- Informatica reported record first quarter revenues of $109.1 million, up 5% from the prior year quarter.
- Income from operations grew 21% year-over-year to $15 million.
- Non-GAAP net income grew over 9% to $17.1 million or $0.18 per diluted share.
Extreme Networks reported financial results for its third quarter ended March 29, 2009. Revenue was $77.2 million compared to $82 million in the prior year. Non-GAAP net income was $1.2 million or $0.01 per share, excluding restructuring and share-based compensation charges. On a GAAP basis, the net loss was $2.2 million or $0.02 per share. Cash and investments totaled $120.8 million as of quarter end. The company continues to deliver new products to meet demand in carrier, enterprise and data center markets during a challenging period.
- Intel reported first quarter revenue of $7.1 billion, down 13% from the previous quarter and 26% from the previous year.
- Gross margin was 46%, down 7 points from the previous quarter.
- Operating income was $670 million, down 56% from the previous quarter.
- Net income was $647 million, up 176% from the previous quarter.
LogicVision reported its financial results for the first quarter of 2009. Revenue was $3.1 million, similar to the previous quarter. The company had a net loss of $104,000 compared to a net loss of $782,000 in the previous quarter. Operating expenses were $2.6 million. Cash and investments totaled $6.9 million at the end of the quarter. For the second quarter, the company expects revenue between $2.9-3 million and a net loss between $100,000-0. Guidance for cash at the end of Q2 is $5.5-6 million.
TechTarget Sec Filing 8k Notice Of Delisting Or Failure To Satisfy A Continue...Manya Mohan
TechTarget received a letter from Nasdaq indicating that it is not in compliance with SEC filing requirements due to failing to file its annual report for 2008 on time. The company has 60 days to submit a plan to regain compliance and 180 days total to become current in its reporting or risk being delisted. TechTarget anticipates making all necessary filings as soon as possible to become current again.
- Mellanox Technologies reported financial results for Q1 2009 with revenues of $22.6 million, gross margins of 76.3%, and operating income of $2.7 million.
- On a non-GAAP basis, the company grew net income to $5.2 million compared to $4.4 million in Q4 2008.
- Unit shipments increased 5.6% sequentially and the company maintained solid cash and investment balances of $186.9 million despite the economic downturn.
- Advanced Analogic Technologies Inc. filed an 8-K report announcing financial results for Q1 2009, with net revenue of $16.5 million, down 34% from Q1 2008.
- The company reported a net loss of $5.2 million, or $0.12 per diluted share for Q1 2009, compared to net income of $0.4 million in Q1 2008.
- On a non-GAAP basis, excluding certain items, the net loss was $3.5 million, or $0.08 per diluted share for Q1 2009.
Avocent Corporation reported financial results for the first quarter of 2009. Net sales declined 11% to $126.1 million compared to the first quarter of 2008. The company reported a GAAP net loss of $42.6 million due to a $55 million non-cash write down of goodwill. Operational net income was $11.2 million, down from $14.5 million in the prior year. LANDesk sales grew 18% to $34.5 million and operational profit was a record for the first quarter. Avocent provided an outlook for the second quarter of 2009 with revenues expected between $126-134 million and operational EPS between $0.26-0.36.
- Fairchild Semiconductor reported financial results for Q3 2009 with sales up 19% sequentially and 23% lower than Q3 2008
- Net income was $2.7M compared to a net loss of $24.9M last quarter and net income of $26.7M in Q3 2008
- Channel inventories decreased $11M from last quarter and are at a record low of 9.6 weeks
- Adjusted net income was $14.9M compared to an adjusted net loss of $3.5M last quarter
- Cash flow from operations was $46M and free cash flow through the first three quarters of 2009 is a record level
Extreme Networks reported financial results for its third quarter ended March 29, 2009. Revenue was $77.2 million compared to $82 million in the prior year. Non-GAAP net income was $1.2 million or $0.01 per share, excluding restructuring and share-based compensation charges. On a GAAP basis, the net loss was $2.2 million or $0.02 per share. Cash and investments totaled $120.8 million as of quarter end. The company continues to deliver new products to meet demand in carrier, enterprise and data center markets during a challenging period.
- Intel reported first quarter revenue of $7.1 billion, down 13% from the previous quarter and 26% from the previous year.
- Gross margin was 46%, down 7 points from the previous quarter.
- Operating income was $670 million, down 56% from the previous quarter.
- Net income was $647 million, up 176% from the previous quarter.
LogicVision reported its financial results for the first quarter of 2009. Revenue was $3.1 million, similar to the previous quarter. The company had a net loss of $104,000 compared to a net loss of $782,000 in the previous quarter. Operating expenses were $2.6 million. Cash and investments totaled $6.9 million at the end of the quarter. For the second quarter, the company expects revenue between $2.9-3 million and a net loss between $100,000-0. Guidance for cash at the end of Q2 is $5.5-6 million.
TechTarget Sec Filing 8k Notice Of Delisting Or Failure To Satisfy A Continue...Manya Mohan
TechTarget received a letter from Nasdaq indicating that it is not in compliance with SEC filing requirements due to failing to file its annual report for 2008 on time. The company has 60 days to submit a plan to regain compliance and 180 days total to become current in its reporting or risk being delisted. TechTarget anticipates making all necessary filings as soon as possible to become current again.
- Mellanox Technologies reported financial results for Q1 2009 with revenues of $22.6 million, gross margins of 76.3%, and operating income of $2.7 million.
- On a non-GAAP basis, the company grew net income to $5.2 million compared to $4.4 million in Q4 2008.
- Unit shipments increased 5.6% sequentially and the company maintained solid cash and investment balances of $186.9 million despite the economic downturn.
- Advanced Analogic Technologies Inc. filed an 8-K report announcing financial results for Q1 2009, with net revenue of $16.5 million, down 34% from Q1 2008.
- The company reported a net loss of $5.2 million, or $0.12 per diluted share for Q1 2009, compared to net income of $0.4 million in Q1 2008.
- On a non-GAAP basis, excluding certain items, the net loss was $3.5 million, or $0.08 per diluted share for Q1 2009.
Avocent Corporation reported financial results for the first quarter of 2009. Net sales declined 11% to $126.1 million compared to the first quarter of 2008. The company reported a GAAP net loss of $42.6 million due to a $55 million non-cash write down of goodwill. Operational net income was $11.2 million, down from $14.5 million in the prior year. LANDesk sales grew 18% to $34.5 million and operational profit was a record for the first quarter. Avocent provided an outlook for the second quarter of 2009 with revenues expected between $126-134 million and operational EPS between $0.26-0.36.
- Fairchild Semiconductor reported financial results for Q3 2009 with sales up 19% sequentially and 23% lower than Q3 2008
- Net income was $2.7M compared to a net loss of $24.9M last quarter and net income of $26.7M in Q3 2008
- Channel inventories decreased $11M from last quarter and are at a record low of 9.6 weeks
- Adjusted net income was $14.9M compared to an adjusted net loss of $3.5M last quarter
- Cash flow from operations was $46M and free cash flow through the first three quarters of 2009 is a record level
NETGEAR reported financial results for the first quarter of 2009 with net revenue of $152.0 million, down from $198.2 million in the first quarter of 2008. Net income was $42,000 compared to $11.2 million in the first quarter of 2008. For the second quarter of 2009, NETGEAR expects net revenue in the range of $135-145 million with non-GAAP operating margin of 3-5%. NETGEAR launched 14 new products in the first quarter and saw continued market shift to 11n WiFi products.
- Texas Instruments reported financial results for the first quarter of 2009 with revenue of $2.09 billion and net income of $17 million.
- Revenue and earnings declined significantly from the prior year and previous quarter due to lower demand across all segments, though results exceeded expectations.
- TI reduced inventory by $277 million and worked with distributors to reduce channel inventory by $132 million during the quarter.
Dime Community Bancshares reported earnings for the quarter ended March 31, 2009. Net income was $2.9 million, or $0.09 per diluted share, compared to $5.3 million, or $0.16 per diluted share, in the previous quarter. Earnings were impacted by $5 million in OTTI charges on securities and $4.1 million in loan loss provisions and credit costs. Excluding these items, earnings per share would have been $0.21, in line with previous guidance. Non-performing loans remained low at 0.40% of total loans and core deposits grew 10% from the previous year.
ADTRAN reported financial results for the second quarter of 2009 with sales of $121.5 million, down from $131.2 million in the same period of 2008. Net income was $18.8 million compared to $22.4 million last year. Earnings per share were $0.30 compared to $0.34 last year. The company's growth businesses grew both sequentially and year-over-year to a record level, representing 54% of revenues. The board of directors also declared a quarterly cash dividend of $0.09 per share.
Acuity Brands reported financial results for the fourth quarter and full fiscal year 2009. Net sales declined 19% in the fourth quarter and 18% for the full year due to a significant decline in construction activity. The company realized cost savings from streamlining efforts which helped operating margins. For fiscal year 2010, Acuity Brands expects continued difficult market conditions with mid-teens declines, but believes initiatives to drive growth like investments in innovative products and expansion in key markets will help outperform overall market declines.
- Manpower Inc. reported net earnings of $2.3 million for Q1 2009, down 96.9% from $75.5 million in Q1 2008. Revenues decreased 32.3% to $3.6 billion.
- The company incurred a $6.9 million restructuring charge related to severances, office closures, and consolidations.
- Right Management, the career transition and organizational consulting company, had an outstanding quarter assisting over 60,000 people and contributing significant earnings.
- Despite the difficult economic environment, the company anticipates maintaining profitability in Q2 2009.
(1) Alliance Fiber Optic Products reported financial results for the first quarter of 2009 with revenues of $7.6 million, a 19% decrease from the first quarter of 2008. (2) The company recorded net income of $302,000 for the quarter, its 12th consecutive profitable quarter. (3) While revenues declined from the previous quarter, management expects revenues to increase sequentially in the second quarter based on input from customers and current backlog.
- Mattel reported financial results for the first quarter of 2009, with worldwide net sales down 15% compared to the first quarter of 2008.
- The operating loss for the quarter was $55.2 million, compared to an operating loss of $36.5 million in the first quarter of 2008.
- Gross sales for core brands like Barbie were down 5% worldwide, Hot Wheels were down 3% worldwide, and Fisher-Price Core was down 17% worldwide.
UPS reported lower earnings for Q1 2009 compared to the prior year due to declining global economic activity reducing revenue and profits across all business segments. Revenue fell 13.7% to $10.9 billion while adjusted diluted EPS fell 40% to $0.52. UPS took actions to cut costs and maintain strong cash flows of $1.9 billion despite the difficult operating environment. While guidance for Q2 2009 was lowered due to continuing economic weakness, UPS is making strategic investments and remains financially strong.
This document is Visteon Corporation's annual report (Form 10-K) filed with the SEC for the fiscal year ending December 31, 2004. It provides an overview of Visteon, which is a leading global supplier of automotive systems, modules and components. It operates in two business segments: Automotive Operations and Glass Operations. Financial information about the segments can be found in the notes to the consolidated financial statements. The report also discusses trends in the automotive parts industry, such as ongoing consolidation, increasing competitive pressures on vehicle manufacturers, the globalization of suppliers, and increasing demand for safety and environmentally-friendly products.
This document is Micron Technology's annual report on Form 10-K filed with the SEC for the fiscal year ended September 2, 1999. It provides an overview of Micron's business operations, including that it designs, develops, manufactures and markets semiconductor memory and personal computer systems. It has two primary operating segments - Semiconductor operations and PC operations. The report discusses Micron's key products, manufacturing process, facilities and joint ventures in its Semiconductor operations segment. It also discusses its PC systems and services offered in its PC operations segment.
- The document is a Form 10-K annual report filed by Unisys Corporation with the US Securities and Exchange Commission for the fiscal year ending December 31, 2006.
- Unisys operates two business segments - Services and Technology. The Services segment provides consulting, outsourcing, and other services, while the Technology segment develops servers and related products.
- As of December 31, 2006 Unisys had approximately 31,500 employees and major facilities around the world, including 21 in the US and 23 outside the US. No single customer accounted for over 10% of revenue.
The document is a Form 8-K filed by Lear Corporation with the SEC on February 17, 2009 reporting events from February 12, 2009. It summarizes that on February 12th:
- The Lear Board amended the company's by-laws and corporate governance guidelines to adopt a majority voting standard for uncontested director elections beginning in 2010. Directors must receive more votes "for" than "against" to be elected.
- The amendments also require any incumbent director not elected to promptly resign, and the board will decide whether to accept the resignation within 90 days.
Revenues for Realogy Corporation were $1.3 billion for the third quarter of 2008. The company reported a net loss of $50 million for the quarter. Key factors negatively impacting results included $45 million in non-cash losses from Realogy's investment in its loan origination joint venture and $15 million in restructuring charges. Realogy's real estate transaction volumes and home sale prices declined compared to the prior year, consistent with broader housing market trends. The company remained focused on reducing costs through initiatives that have already improved profitability by over $350 million.
This document is Micron Technology's annual report on Form 10-K filed with the SEC for the fiscal year ending August 30, 2001. It provides an overview of Micron's business operations, including that it designs, develops and manufactures dynamic random access memory (DRAM) and static random access memory (SRAM) semiconductor products. DRAM sales represented approximately 87% of Micron's net sales in 2001. It also discusses recent acquisitions and divestitures, including the sale of its PC operations in May 2001 and acquisition of KMT Semiconductor in April 2001.
Western Union reported first quarter 2009 results with the following highlights:
- Revenue of $1.2 billion, down 5% from the prior year quarter but flat on a constant currency basis.
- EPS of $0.32, up 19% from the prior year quarter, driven by cost reductions and strong transaction growth.
- Operating income margin of 28%, up from 24% in the prior year quarter, aided by timing of investments.
- The company continued expanding distribution through new agreements with major banks and retailers.
- For the full year, Western Union expects a constant currency revenue decline of 2-5% and reaffirmed its outlook for 27% operating margin and EPS of $1.16-$1
M&T Bank Corporation reported its financial results for the first quarter of 2009. Net income was $64 million, down from $202 million in the first quarter of 2008. Earnings per share were $0.49. The results were impacted by $32 million in impairment charges on investment securities and a higher provision for credit losses of $158 million. However, core deposits grew by $1.7 billion or 20% annualized. Noninterest income declined from the prior year, but residential mortgage banking revenues reached a record high. Overall, M&T remained profitable in the quarter despite challenges in the broader economy.
Brown & Brown Inc. reported a 1% increase in net income for the third quarter of 2009 compared to the same period in 2008. Total revenue decreased 1% for the quarter. Net income for the first nine months of 2009 was up slightly compared to the same period last year, while total revenue increased slightly. The company stated that results reflected a challenging operating environment with declines in insurable exposure units and soft market rates.
- Facebook filed an 8-K form with the SEC reporting its financial results for Q2 2012.
- Key highlights include revenue of $1.18B (up 32% YoY), a net loss of $157M (compared to a profit of $240M in Q2 2011), and monthly active users reaching 955M (up 29% YoY).
- The loss was largely due to $1.3B in share-based compensation from pre-IPO restricted stock units that became exercisable. Excluding this, non-GAAP net income was $295M.
ScanSource, a distributor of technology products, reported financial results for its third quarter of fiscal year 2009. Net sales decreased 24.2% to $390 million compared to the previous year. Net income decreased 16.3% to $9.2 million. The company also forecasted that revenue for the next quarter could range from $390-430 million.
Datalink reported financial results for the third quarter of 2009 with the following highlights:
- Revenues were $42.7 million, down from $50 million in the same quarter of 2008.
- On a GAAP basis, there was a net loss of $84,000 or $0.01 per share, compared to net earnings of $1.1 million or $0.08 per share in Q3 2008.
- On a non-GAAP basis, there was net earnings of $116,000 or $0.01 per share, compared to $1.3 million or $0.11 per share in Q3 2008.
- For the fourth quarter, Datalink
Zimmer Holdings Inc. reported financial results for the first quarter of 2009. Net sales decreased 6.3% to $993 million due to declines in the Americas and Europe. Diluted earnings per share were $0.91 reported and $0.95 adjusted, an 8.7% decrease adjusted. The company reaffirmed its full-year sales and earnings guidance, expecting sales growth of 1-3% constant currency and adjusted diluted EPS of $3.85 to $4.00.
NETGEAR reported financial results for the first quarter of 2009 with net revenue of $152.0 million, down from $198.2 million in the first quarter of 2008. Net income was $42,000 compared to $11.2 million in the first quarter of 2008. For the second quarter of 2009, NETGEAR expects net revenue in the range of $135-145 million with non-GAAP operating margin of 3-5%. NETGEAR launched 14 new products in the first quarter and saw continued market shift to 11n WiFi products.
- Texas Instruments reported financial results for the first quarter of 2009 with revenue of $2.09 billion and net income of $17 million.
- Revenue and earnings declined significantly from the prior year and previous quarter due to lower demand across all segments, though results exceeded expectations.
- TI reduced inventory by $277 million and worked with distributors to reduce channel inventory by $132 million during the quarter.
Dime Community Bancshares reported earnings for the quarter ended March 31, 2009. Net income was $2.9 million, or $0.09 per diluted share, compared to $5.3 million, or $0.16 per diluted share, in the previous quarter. Earnings were impacted by $5 million in OTTI charges on securities and $4.1 million in loan loss provisions and credit costs. Excluding these items, earnings per share would have been $0.21, in line with previous guidance. Non-performing loans remained low at 0.40% of total loans and core deposits grew 10% from the previous year.
ADTRAN reported financial results for the second quarter of 2009 with sales of $121.5 million, down from $131.2 million in the same period of 2008. Net income was $18.8 million compared to $22.4 million last year. Earnings per share were $0.30 compared to $0.34 last year. The company's growth businesses grew both sequentially and year-over-year to a record level, representing 54% of revenues. The board of directors also declared a quarterly cash dividend of $0.09 per share.
Acuity Brands reported financial results for the fourth quarter and full fiscal year 2009. Net sales declined 19% in the fourth quarter and 18% for the full year due to a significant decline in construction activity. The company realized cost savings from streamlining efforts which helped operating margins. For fiscal year 2010, Acuity Brands expects continued difficult market conditions with mid-teens declines, but believes initiatives to drive growth like investments in innovative products and expansion in key markets will help outperform overall market declines.
- Manpower Inc. reported net earnings of $2.3 million for Q1 2009, down 96.9% from $75.5 million in Q1 2008. Revenues decreased 32.3% to $3.6 billion.
- The company incurred a $6.9 million restructuring charge related to severances, office closures, and consolidations.
- Right Management, the career transition and organizational consulting company, had an outstanding quarter assisting over 60,000 people and contributing significant earnings.
- Despite the difficult economic environment, the company anticipates maintaining profitability in Q2 2009.
(1) Alliance Fiber Optic Products reported financial results for the first quarter of 2009 with revenues of $7.6 million, a 19% decrease from the first quarter of 2008. (2) The company recorded net income of $302,000 for the quarter, its 12th consecutive profitable quarter. (3) While revenues declined from the previous quarter, management expects revenues to increase sequentially in the second quarter based on input from customers and current backlog.
- Mattel reported financial results for the first quarter of 2009, with worldwide net sales down 15% compared to the first quarter of 2008.
- The operating loss for the quarter was $55.2 million, compared to an operating loss of $36.5 million in the first quarter of 2008.
- Gross sales for core brands like Barbie were down 5% worldwide, Hot Wheels were down 3% worldwide, and Fisher-Price Core was down 17% worldwide.
UPS reported lower earnings for Q1 2009 compared to the prior year due to declining global economic activity reducing revenue and profits across all business segments. Revenue fell 13.7% to $10.9 billion while adjusted diluted EPS fell 40% to $0.52. UPS took actions to cut costs and maintain strong cash flows of $1.9 billion despite the difficult operating environment. While guidance for Q2 2009 was lowered due to continuing economic weakness, UPS is making strategic investments and remains financially strong.
This document is Visteon Corporation's annual report (Form 10-K) filed with the SEC for the fiscal year ending December 31, 2004. It provides an overview of Visteon, which is a leading global supplier of automotive systems, modules and components. It operates in two business segments: Automotive Operations and Glass Operations. Financial information about the segments can be found in the notes to the consolidated financial statements. The report also discusses trends in the automotive parts industry, such as ongoing consolidation, increasing competitive pressures on vehicle manufacturers, the globalization of suppliers, and increasing demand for safety and environmentally-friendly products.
This document is Micron Technology's annual report on Form 10-K filed with the SEC for the fiscal year ended September 2, 1999. It provides an overview of Micron's business operations, including that it designs, develops, manufactures and markets semiconductor memory and personal computer systems. It has two primary operating segments - Semiconductor operations and PC operations. The report discusses Micron's key products, manufacturing process, facilities and joint ventures in its Semiconductor operations segment. It also discusses its PC systems and services offered in its PC operations segment.
- The document is a Form 10-K annual report filed by Unisys Corporation with the US Securities and Exchange Commission for the fiscal year ending December 31, 2006.
- Unisys operates two business segments - Services and Technology. The Services segment provides consulting, outsourcing, and other services, while the Technology segment develops servers and related products.
- As of December 31, 2006 Unisys had approximately 31,500 employees and major facilities around the world, including 21 in the US and 23 outside the US. No single customer accounted for over 10% of revenue.
The document is a Form 8-K filed by Lear Corporation with the SEC on February 17, 2009 reporting events from February 12, 2009. It summarizes that on February 12th:
- The Lear Board amended the company's by-laws and corporate governance guidelines to adopt a majority voting standard for uncontested director elections beginning in 2010. Directors must receive more votes "for" than "against" to be elected.
- The amendments also require any incumbent director not elected to promptly resign, and the board will decide whether to accept the resignation within 90 days.
Revenues for Realogy Corporation were $1.3 billion for the third quarter of 2008. The company reported a net loss of $50 million for the quarter. Key factors negatively impacting results included $45 million in non-cash losses from Realogy's investment in its loan origination joint venture and $15 million in restructuring charges. Realogy's real estate transaction volumes and home sale prices declined compared to the prior year, consistent with broader housing market trends. The company remained focused on reducing costs through initiatives that have already improved profitability by over $350 million.
This document is Micron Technology's annual report on Form 10-K filed with the SEC for the fiscal year ending August 30, 2001. It provides an overview of Micron's business operations, including that it designs, develops and manufactures dynamic random access memory (DRAM) and static random access memory (SRAM) semiconductor products. DRAM sales represented approximately 87% of Micron's net sales in 2001. It also discusses recent acquisitions and divestitures, including the sale of its PC operations in May 2001 and acquisition of KMT Semiconductor in April 2001.
Western Union reported first quarter 2009 results with the following highlights:
- Revenue of $1.2 billion, down 5% from the prior year quarter but flat on a constant currency basis.
- EPS of $0.32, up 19% from the prior year quarter, driven by cost reductions and strong transaction growth.
- Operating income margin of 28%, up from 24% in the prior year quarter, aided by timing of investments.
- The company continued expanding distribution through new agreements with major banks and retailers.
- For the full year, Western Union expects a constant currency revenue decline of 2-5% and reaffirmed its outlook for 27% operating margin and EPS of $1.16-$1
M&T Bank Corporation reported its financial results for the first quarter of 2009. Net income was $64 million, down from $202 million in the first quarter of 2008. Earnings per share were $0.49. The results were impacted by $32 million in impairment charges on investment securities and a higher provision for credit losses of $158 million. However, core deposits grew by $1.7 billion or 20% annualized. Noninterest income declined from the prior year, but residential mortgage banking revenues reached a record high. Overall, M&T remained profitable in the quarter despite challenges in the broader economy.
Brown & Brown Inc. reported a 1% increase in net income for the third quarter of 2009 compared to the same period in 2008. Total revenue decreased 1% for the quarter. Net income for the first nine months of 2009 was up slightly compared to the same period last year, while total revenue increased slightly. The company stated that results reflected a challenging operating environment with declines in insurable exposure units and soft market rates.
- Facebook filed an 8-K form with the SEC reporting its financial results for Q2 2012.
- Key highlights include revenue of $1.18B (up 32% YoY), a net loss of $157M (compared to a profit of $240M in Q2 2011), and monthly active users reaching 955M (up 29% YoY).
- The loss was largely due to $1.3B in share-based compensation from pre-IPO restricted stock units that became exercisable. Excluding this, non-GAAP net income was $295M.
ScanSource, a distributor of technology products, reported financial results for its third quarter of fiscal year 2009. Net sales decreased 24.2% to $390 million compared to the previous year. Net income decreased 16.3% to $9.2 million. The company also forecasted that revenue for the next quarter could range from $390-430 million.
Datalink reported financial results for the third quarter of 2009 with the following highlights:
- Revenues were $42.7 million, down from $50 million in the same quarter of 2008.
- On a GAAP basis, there was a net loss of $84,000 or $0.01 per share, compared to net earnings of $1.1 million or $0.08 per share in Q3 2008.
- On a non-GAAP basis, there was net earnings of $116,000 or $0.01 per share, compared to $1.3 million or $0.11 per share in Q3 2008.
- For the fourth quarter, Datalink
Zimmer Holdings Inc. reported financial results for the first quarter of 2009. Net sales decreased 6.3% to $993 million due to declines in the Americas and Europe. Diluted earnings per share were $0.91 reported and $0.95 adjusted, an 8.7% decrease adjusted. The company reaffirmed its full-year sales and earnings guidance, expecting sales growth of 1-3% constant currency and adjusted diluted EPS of $3.85 to $4.00.
Polycom reported financial results for the second quarter of 2009. Revenue was $230.7 million, down from $271.6 million in the prior year. Video solutions revenue grew 18% year-over-year while voice revenue stabilized. Network systems revenue returned to quarterly growth and video communications revenue returned to sequential growth. Non-GAAP net income was $24.3 million compared to $30.7 million in the previous year. Management believes customer demand is improving and the company is positioned for long-term growth through sales execution, network systems solutions, strategic partnerships, and cloud-based opportunities.
Eaton Corporation reported financial results for the first quarter of 2009. Net loss was $50 million, or $0.30 per share, compared to net income of $247 million, or $1.64 per share in Q1 2008. Sales declined 20% to $2.8 billion due to the global recession. However, operating cash flow was near record at $107 million. For 2009, Eaton expects its end markets to decline 15-16% and has lowered its guidance range to $2.10-$2.60 net income per share and $2.50-$3.00 operating earnings per share.
Datalink Corporation reported financial results for the second quarter of 2009 with the following highlights:
- Revenues for Q2 2009 were $43.7 million, down 11.7% from $49.7 million in Q2 2008. However, revenues increased 9.6% sequentially from Q1 2009.
- Net income for Q2 2009 was $283,000 or $0.02 per share, compared to net income of $979,000 or $0.08 per share in Q2 2008.
- Non-GAAP net income for Q2 2009 was $595,000 or $0.05 per share, compared to $1.3 million or $0.10 per
Q2 2009 Earning Report of Datalink Corp.Manya Mohan
Datalink Corporation reported its financial results for the second quarter of 2009. Revenue was $43.7 million, up 10% from the first quarter but down from $49.7 million in the second quarter of 2008. Net income was $283,000 or $0.02 per share. The company expects revenues in the third quarter to be between $41-45 million with GAAP earnings of -$0.01 to $0.04 per share and non-GAAP earnings of $0.01 to $0.06 per share. While the economy remains challenging, the company saw increases in customer support revenues, virtualization activity, and tools-based services engagements.
First Cash Financial Services reported first quarter 2009 earnings per share of $0.32 from continuing operations, exceeding analyst estimates. Total earnings per share were $0.38. The company opened 18 new stores, reaffirmed full-year 2009 EPS guidance of $1.36-$1.38, and expects to open 55-60 new stores in Mexico for the year.
- Stamps.com reported financial results for the first quarter of 2009, with PC Postage revenue of $18.3 million, up 1% from the first quarter of 2008. Excluding an enhanced promotion channel, PC Postage revenue increased 6% year-over-year.
- Total revenue was $20 million, down 5% from the first year quarter due to a strategic reduction in spending on the PhotoStamps business.
- GAAP net income was $1.2 million, or $0.07 per share. Excluding non-cash stock compensation and a tax adjustment, non-GAAP net income per share was $0.13.
- The company saw reasonable performance in its
Cooper Industries reported financial results for the first quarter of 2009. Revenues decreased 19% to $1.26 billion due to weakness in global markets. Earnings per share from continuing operations were $0.48, but were $0.47 excluding restructuring charges and a tax item. The company generated a record $137 million in free cash flow. For 2009, earnings per share are forecast to be $2.30 to $2.60 excluding restructuring, and revenues are expected to decline 17-21% compared to 2008.
This document is an 8-K filing by Lakeland Financial Corporation announcing its earnings for the first quarter of 2009. Net income was $3.9 million compared to $5.2 million for the same period in 2008. The company also maintained its quarterly dividend of $0.155 per share. Average total loans increased 18% year-over-year and net interest income grew 17% driven by loan growth. However, provisions for loan losses also increased due to higher charge-offs and economic conditions. Non-interest income declined due to mortgage servicing impairment, while non-interest expense rose 11% primarily from increased regulatory and legal expenses.
Micron Technology announced a restructuring plan in response to declining demand and oversupply in the NAND flash memory market. As part of the plan, Micron's NAND flash joint venture with Intel will shut down production at Micron's Boise, Idaho fabrication facility, reducing output by 35,000 wafers per month. Micron also plans to reduce its global workforce by approximately 15% over the next two years. The company expects $60 million in restructuring costs but anticipates $175 million in annual cash operating margin benefits from the plan.
Badger Meter reported record first quarter earnings and earnings per share for the period ended March 31, 2009. Net earnings were $6,973,000, a 15.8% increase from the first quarter of 2008, and diluted earnings per share were $0.47, a 14.6% increase. Sales were lower at $65,324,000, down 4.5% from the first quarter of 2008, due entirely to a decline in industrial product sales. Margins increased due to cost reduction initiatives and lower commodity prices.
Omniture reported financial results for the third quarter of 2009. Revenue increased 13% compared to the third quarter of 2008 to $87.9 million. However, GAAP net loss was $8.5 million compared to a net loss of $17.3 million in the prior year due to $5.3 million in acquisition-related expenses from its pending acquisition by Adobe. Non-GAAP net income was $12.3 million. Cash flow from operations was $19.1 million and cash on hand was $145.3 million at the end of the quarter.
First Commonwealth Financial Corporation reported financial results for the first quarter of 2009. Core net income decreased 25.1% from the first quarter of 2008 to $8.1 million due to an increase in provisions for credit losses and higher expenses, partly offset by higher net interest income and lower taxes. Net charge-offs increased to $19.5 million in the first quarter. Non-performing loans decreased $26.9 million. First Commonwealth recognized $9.9 million in impairment losses relating to trust preferred securities and bank equity securities.
- Fastenal Company reported financial results for the first quarter of 2009, with net sales decreasing 13.6% from the prior year quarter to $489 million. Net earnings decreased 28.5% to $48.7 million.
- Daily sales growth rates declined significantly across all store categories and time periods compared to the prior year, reflecting the negative impact of the weak economy on Fastenal's industrial production-focused business.
- Fastenal took actions to manage costs and cash flow in response to the challenging environment, including slowing new store openings and reducing headcount growth. However, inventory reductions were less than desired.
- The company generated strong operating cash flow of $93.5 million in the quarter
Cintas Corporation reported financial results for its fiscal year ended May 31, 2009. Revenue decreased 4% to $3.8 billion due to a steep decline in the US economy and job losses. Net income was $226 million, down 33% from the prior year. Excluding restructuring and impairment charges, earnings per share were $1.83 for the year and $0.38 for the fourth quarter. Despite lower profits, Cintas generated $11 million more in free cash flow than the prior year and strengthened its balance sheet. The company expects results to improve when economic conditions and job growth recover.
Baxter International Inc. reported financial results for the third quarter of 2009. Net income grew 12% to $530 million compared to the third quarter of 2008. Earnings per share increased 18% to $0.87. Excluding special charges, adjusted net income increased 6% and adjusted earnings per share grew 11%. Baxter provided guidance for the fourth quarter and full year 2009, expecting continued sales and earnings growth.
This document is an 8-K filing by First State Bancorporation reporting their financial results for the first quarter of 2009. It summarizes that they had a net loss of $24.4 million compared to net income of $3.9 million in the same period in 2008, largely due to increased provision for loan losses. Core deposits increased by $158.9 million while loans decreased by $50.5 million. They also signed an agreement to sell their Colorado branches which will boost capital ratios.
1) Sandy Spring Bancorp reported net income of $1.0 million for Q1 2009, down from $8.2 million in Q1 2008.
2) The provision for loan and lease losses was $10.6 million for Q1 2009 due to risk rating downgrades and specific reserves for residential real estate development loans.
3) Noninterest expenses decreased 2% from Q1 2008 and customer funding sources increased 8% from both Q1 and Q4 2008 due to growth in money market accounts.
The document is a Form 8-K filed by Micron Technology, Inc. with the SEC on April 2, 2008 reporting their financial results for the second quarter of fiscal year 2008.
The key details are:
1) Micron reported net sales of $1.4 billion for the second quarter, down 11% from the previous quarter due to lower selling prices, partially offset by increased production.
2) They recorded a non-cash goodwill impairment charge of $463 million due to their market capitalization falling below book value.
3) Excluding this charge, their net loss would have been $0.41 per diluted share or $314 million, compared to a loss of $
Similar to Q1 2009 Earning Report of Informatica Corp. (20)
Daimler reported its Q3 2009 results, with the automotive market continuing to experience a slump. Key points include:
- Group sales were €19.3 billion in Q3, with an EBIT of €0.5 billion excluding special items.
- Mercedes-Benz Cars achieved a positive EBIT of €355 million in Q3 due to the availability of new models and cost measures.
- Daimler Trucks reported an EBIT loss of €127 million in Q3 due to weak demand and charges from repositioning.
- Daimler aims to further improve earnings in Q4 through new models and ongoing efficiency programs.
A. Schulman reported fiscal fourth-quarter and full-year 2009 results, with strong margins and excellent liquidity. For the quarter, gross margins reached 16.3% compared to 12.1% last year. North America approached break-even despite lower volumes. Cash on hand exceeded $228 million with over $300 million available in credit lines. For the full year, net sales were $1.28 billion, down 35.5% from last year. Gross margins increased to 13.3% from 11.8% last year, and income from continuing operations was $11.2 million.
BB&T Corporation presented its fourth quarter 2009 investor presentation. The presentation highlighted BB&T's strategic acquisition of Colonial Bank, which enhanced its franchise in key Southeastern markets. The Colonial transaction was deemed financially attractive and expected to be accretive to earnings, exceeding BB&T's merger criteria. BB&T has a proven track record of successfully integrating acquisitions and anticipated achieving annual cost savings of $170 million from the Colonial deal.
Boston Scientific reported financial results for the third quarter of 2009. Net sales increased 3% to $2.025 billion and adjusted EPS was $0.19. Reported GAAP EPS was $0.13. The company maintained its leadership in the worldwide DES market with a 41% share. Worldwide CRM product sales increased 8% and Endosurgery sales increased 8%. Guidance for Q4 2009 estimates net sales of $2.025-$2.125 billion and adjusted EPS of $0.17-$0.21. Full year 2009 guidance estimates net sales of $8.134-$8.234 billion and adjusted EPS of $0.75-$0.79.
Boston Scientific reported financial results for the third quarter of 2009. Net sales increased 3% to $2.025 billion and adjusted EPS was $0.19. Reported GAAP EPS was $0.13. The company maintained its leadership in the worldwide DES market with a 41% share. Worldwide CRM product sales increased 8% and Endosurgery sales increased 8%. Guidance for Q4 2009 estimates net sales of $2.025-$2.125 billion and adjusted EPS of $0.17-$0.21. Full year 2009 guidance estimates net sales of $8.134-$8.234 billion and adjusted EPS of $0.75-$0.79.
This document is Atheros Communications' quarterly report filed with the SEC for the quarter ended September 30, 2009. It includes Atheros' condensed consolidated financial statements, with assets of $676 million and liabilities of $103 million. It also provides management's discussion of the company's financial condition and operating results, and discusses risks including the economic downturn and competition in the wireless LAN market. The report includes certifications of the CEO and CFO regarding financial controls.
- The document is Apple Inc.'s Form 10-Q quarterly report filed with the SEC for the quarter ended June 27, 2009.
- It provides Apple's condensed consolidated financial statements and notes to the financial statements for the quarter.
- The financial statements show that Apple's net sales increased 12% to $8.3 billion for the quarter compared to $7.5 billion in the same quarter the previous year, while net income increased 15% to $1.2 billion from $1.1 billion.
Hancock Holding Company announced its financial results for the third quarter of 2009. Net income increased 10.7% from the previous quarter to $15.2 million. Key factors were lower loan loss provisions and an expanded net interest margin. Non-performing assets rose slightly while net charge-offs decreased. Total assets declined 3.4% but the company remained well capitalized, with tangible equity ratio rising to 8.71%.
This document provides an agenda and highlights for Walgreen Co.'s 4th quarter and fiscal year 2009 conference call with investors. It includes introductions, a discussion of 4Q and FY performance and strategies, financial results, and a Q&A session. Key metrics highlighted are 7.6% sales growth and a 1.5% decline in net earnings for 4Q, and 7.3% sales growth and a 7% decline in net earnings for FY2009. The document also outlines Walgreen's strategies around healthcare reform, the flu season, and expanding their business model.
1) Infosys Technologies reported financial results for the quarter ending September 30, 2009, with revenues of $1.154 billion, a 5.1% decline from the previous year. Net income was $317 million, a 0.9% decline.
2) For the quarter ending December 31, 2009, Infosys expects revenues between $1.155-1.165 billion, a 1.4-0.5% decline from the previous year, and earnings per share of $0.50, a 13.8% decline.
3) For the full fiscal year ending March 31, 2010, Infosys expects revenues between $4.60-4.62 billion, a 1
Marriott International reported financial results for the third quarter of 2009. Key highlights include:
- Revenue declined to $2.5 billion compared to $3 billion in Q3 2008 due to weaker demand.
- Net income declined 57% to $53 million compared to the prior year.
- REVPAR declined 23.5% worldwide and 20.6% in North America.
- The company added 79 new properties and expects to open over 33,000 new rooms in 2009.
PepsiCo held its 2009 Q3 earnings call on October 8, 2009. In the call, PepsiCo reaffirmed its guidance for 2009 of mid-to-high single digit constant currency net revenue and core EPS growth. PepsiCo also set a 2010 target of 11-13% core constant currency EPS growth, assuming the closing of acquisitions of PBG and PAS in early 2010. PepsiCo reported 5% constant currency net revenue growth and 8% core constant currency EPS growth in Q3 2009. PepsiCo highlighted investments planned for 2010 in areas such as R&D, emerging markets, brands, IT infrastructure, sustainability, and developing its employees.
- Alcoa held its 3rd quarter 2009 earnings conference call on October 7, 2009
- The call discussed Alcoa's financial results for the 3rd quarter of 2009 as well as the current state and outlook of the aluminum market
- Key highlights included income from continuing operations of $73 million, revenue up 9% sequentially, and initiatives offsetting currency and energy headwinds
The Pepsi Bottling Group reported third quarter 2009 results. Comparable diluted EPS was $1.06 and reported diluted EPS was $1.14. Currency neutral operating income grew 10% compared to the prior year on a comparable basis, while reported operating income declined 4% due to foreign exchange impacts. The company remains on track to achieve full-year 2009 guidance of $2.30-$2.40 diluted EPS at the high end of the range and has raised operating free cash flow guidance to approximately $550 million.
- Jean Coutu Group reported an increase in sales and revenues for the second quarter of 2010 compared to the same period last year. Total sales increased 7.7% to $549 million while revenues from franchising increased 7.3% to $608.7 million.
- Net earnings for the quarter were $14.9 million compared to a net loss of $39.1 million in the previous year. Earnings per share were $0.07 compared to a loss per share of $0.16 last year.
- Rite Aid also reported financial results for the second quarter, with revenues of $6.3 billion and a net loss of $116 million. Rite Aid revised its guidance
Minerva plc presented preliminary results for the year ended 30 June 2009. Key points included successfully restructuring and extending £750 million in loan facilities with no scheduled maturities in the current or next fiscal year. Development projects such as The Walbrook and St. Botolphs were on time and on budget. Tenant interest was improving for office developments in London's financial district despite a difficult real estate market.
This document is Worthington Industries' quarterly report filed with the SEC for the quarter ended August 31, 2009. It includes financial statements and notes for the quarter, as well as a discussion of financial results by management. Some key details include:
- Net sales for the quarter were $417.5 million, down from $913.2 million in the prior year quarter. The company reported a net loss of $4.5 million compared to net income of $79.7 million in the previous year.
- Inventories totaled $232.9 million as of August 31, 2009, down from $270.6 million as of May 31, 2009 as the company worked to reduce inventory levels.
The document provides the agenda and highlights from Walgreen Co.'s 4th quarter and fiscal year 2009 conference call with analysts held on September 29, 2009. It discusses 4th quarter and fiscal year financial results including net sales growth of 7.6% and 7.3% respectively, adjusted earnings per share of $0.44 and $2.02, and prescription sales growth. The document also summarizes Walgreen's strategies around healthcare reform, the H1N1 flu pandemic, expanding health services and 90-day prescriptions to lower costs.
This document is TRC Companies Inc's annual report on Form 10-K for the fiscal year ending June 30, 2009. It provides an overview of the company's business operations, financial highlights, services offered, clients, competition, backlog, employees, contracts with government agencies, regulatory matters, properties, legal proceedings, and financial data. Key information includes descriptions of TRC's engineering, environmental and construction management services, major clients in transportation, energy and development sectors, and discussions of financial results, market risks, and legal cases.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
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China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Calculation of compliance cost: Veterinary and sanitary control of aquatic bi...Alexander Belyaev
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13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
Budgeting as a Control Tool in Government Accounting in Nigeria
Being a Paper Presented at the Nigerian Maritime Administration and Safety Agency (NIMASA) Budget Office Staff at Sojourner Hotel, GRA, Ikeja Lagos on Saturday 8th June, 2024.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
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A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
In World Expo 2010 Shanghai – the most visited Expo in the World History
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China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Importance of community participation in development projects.pdf
Q1 2009 Earning Report of Informatica Corp.
1. UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): April 23, 2009
INFORMATICA CORPORATION
(Exact name of Registrant as specified in its charter)
State of Delaware 0-25871 77-0333710
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification Number)
100 Cardinal Way
Redwood City, California 94063
(Address of principal executive offices and zip code)
(650) 385-5000
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of
the following provisions:
Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
2. Item 2.02 Results of Operations and Financial Condition.
On April 23, 2009, Informatica Corporation issued a press release reporting its results for the first quarter ended March 31, 2009. A copy of
the press release issued by Informatica Corporation concerning the foregoing results is furnished herewith as Exhibit 99.1 and is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release dated April 23, 2009 reporting Informatica Corporation’s results for the first quarter ended March 31, 2009.
3. SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, hereunto duly authorized.
Date: April 23, 2009 INFORMATICA CORPORATION
By: /s/ EARL E. FRY
Earl E. Fry
Chief Financial Officer, Executive Vice
President and Secretary
4. EXHIBIT INDEX
Exhibit No. Description
99.1 Press Release dated April 23, 2009 reporting Informatica Corporation’s results for the first quarter ended March 31, 2009.
5. Exhibit 99.1
Debbie Walery Stephanie Wakefield
Contacts:
Public Relations Senior Director, Investor Relations
+ 1 650 385 5735 +1 650 385 5261
dwalery@informatica.com swakefield@informatica.com
INFORMATICA REPORTS RECORD FIRST QUARTER REVENUES OF $109.1 MILLION
Achieves Operating Income Growth of 21%
REDWOOD CITY, Calif., April 23, 2009 — Informatica Corporation (NASDAQ: INFA), the leading independent provider of enterprise data
integration software and services, today announced financial results for the first quarter ended March 31, 2009.
Revenues for the first quarter of 2009 were $109.1 million, up five percent from the $103.7 million recorded in the first quarter of 2008.
License revenues for the first quarter were $44.1 million, compared to $44.2 million recorded in the first quarter of 2008. Total revenues were
negatively impacted by currency fluctuations. Using currency exchange rates from the first quarter of 2008, total revenues would have been
$6.4 million higher in the first quarter of 2009.
Income from operations for the first quarter, calculated in accordance with U.S. generally accepted accounting principles (GAAP), was a
first quarter record $15.0 million, up 21 percent from $12.4 million in the first quarter of 2008. GAAP income from operations was negatively
impacted by currency fluctuations. Using currency exchange rates from the first quarter of 2008, GAAP income from operations would have
been $0.8 million higher in the first quarter of 2009.
GAAP net income for the first quarter of 2009 was $11.1 million or $0.12 per diluted share, in comparison to $11.2 million or $0.12 per
diluted share in the first quarter of 2008. For the three-month periods ended March 31, 2008 and March 31, 2009, earnings per diluted share is
calculated on an “if converted” basis, including the add-back of $1.1 million of interest and convertible notes issuance cost amortization, net of
income taxes.
Non-GAAP income from operations for the first quarter of 2009 was $23.6 million, up 28 percent from $18.5 million in the first quarter of
2008. Non-GAAP net income for the first quarter of 2009 was $17.1 million or $0.18 per diluted share, up over nine percent from $15.7 million
or $0.16 per diluted share in the first quarter of 2008. Non-GAAP income from
6. operations and non-GAAP net income exclude charges and tax benefits related to the amortization of acquired technology and intangible assets,
facilities restructurings, and share-based payments. A reconciliation of GAAP results to non-GAAP results is included below.
“Our record first quarter results reaffirm our sound strategy and the Informatica team’s operational discipline, particularly in light of the
current global economic recession,” said Sohaib Abbasi, chairman and CEO of Informatica. “With our singular focus and track record of
continual innovation, we are well-positioned with a compelling value proposition. Our strongest-ever product portfolio enables our customers
to “do more with less” while aligning IT with top business imperatives.”
Significant milestones achieved since January 2009 include:
Signed repeat business with 190 customers. Customers continue to derive considerable value from their investments in Informatica
•
solutions. Repeat customers included Amtrak, Chinabond, EchoStar Communications, New York Police Department, Union Bank of
California, Virgin Media, and Vivo Celular.
Added 212 new customers. Informatica increased its customer base this quarter to 3,664 companies including a first quarter record 59
•
new Informatica customers and 153 customers added through the Applimation acquisition. New customers include Aeropostale,
Arbonne International, Bank of the West, Delta Dental Plan of Michigan, Kredyt Bank SA Centrala, Key Energy, and Yale University.
Acquired Applimation to grow Data Integration Platform leadership by incorporating application Information Lifecycle Management
•
(ILM) into our technology portfolio, thus expanding our addressable market to encompass an adjacent growth category. Informatica’s
application ILM products manage various phases of the application data lifecycle, from testing to archiving. Application ILM reduces
storage cost and total-cost-of-ownership associated with enterprise business applications, such as ERP, CRM, HR, and SCM.
Informatica On Demand Data Loader named ‘Best Data Integration Tool’ on Force.Com AppExchange by salesforce.com
•
customers. Informatica On Demand Data Loader garnered more four and five star reviews than any other integration product in its
category. Over 100 companies around the world now use
7. Informatica On Demand to integrate their Salesforce CRM applications and Force.com platform with their back office systems.
Delivered the Informatica Platform. Informatica Platform leverages our broadest-ever product portfolio, and provides well-
•
differentiated value: comprehensive, unified, open, and economical.
Three Informatica customers named as “Computerworld Laureate” finalists for 2009. The Defense Health Services Systems,
•
LinkShare and the U.S. Departments of Defense and Veterans Affairs were chosen in a select group of finalists due to their
contributions for the betterment of society through exceptional use of information technology.
Conference Call and Webcast
Informatica will discuss its first quarter 2009 results on a conference call today beginning at 2:00 p.m. PDT. A live Webcast of the conference
call will be available at http://www.informatica.com/investor. A replay of the call will also be available by dialing 617-801-6888, reservation
number 62285694.
About Informatica
Informatica Corporation (NASDAQ: INFA) is the leading independent provider of enterprise data integration software and services. With
Informatica, organizations can gain greater business value by integrating their information assets across the enterprise. More than 3,600
companies worldwide rely on Informatica to reduce the cost and expedite the time to address data integration needs of varying complexity and
scale. For more information, call +1 650 385 5000 (1-800-653-3871 in the U.S.), or visit www.informatica.com.
8. INFORMATICA CORPORATION
GAAP TO NON-GAAP RESULTS
(in thousands, except per share data)
(unaudited)
Three Months Ended
March 31,
2009 2008
GAAP Net income $ 11,059 $ 11,224
Plus:
Amortization of acquired technology 1,557 620
Amortization of intangible assets 2,051 362
Facilities restructuring charges 809 947
Share-based payments 4,199 4,114
Tax benefit of amortization of intangible assets and restructuring charges (1,653) (752)
Tax benefit of share-based payments (889) (802)
Non-GAAP Net income $ 17,133 $ 15,713
Three Months Ended
March 31,
2009 2008
Diluted net income per share: *
Diluted GAAP Net income per share $ 0.12 $ 0.12
Plus:
Amortization of acquired technology 0.02 0.01
Amortization of intangible assets 0.02 —
Facilities restructuring charges 0.01 0.01
Share-based payments 0.04 0.04
Tax benefit of amortization of intangible assets and restructuring charges (0.02) (0.01)
Tax benefit of share-based payments (0.01) (0.01)
Diluted Non-GAAP Net income per share $ 0.18 $ 0.16
Shares used in computing diluted GAAP Net income per share 100,430 103,727
Shares used in computing diluted Non-GAAP Net income per share 100,841 104,706
* Diluted EPS is calculated under the “if converted” method for the three months ended March 31, 2009 and 2008. This includes the add-
back of $1.1 million of interest and convertible notes issuance cost amortization, net of applicable income taxes for both periods.
Non-GAAP Financial Information
To supplement the Company’s condensed consolidated financial statements presented on a GAAP basis, Informatica uses non-GAAP financial
measures of net income, income from operations and net income per share. These measures are adjusted to exclude the charges and expenses
discussed above. The Company believes the disclosure of such non-GAAP financial measures is appropriate to enhance an overall
understanding of its historical financial
9. performance. These adjustments to the Company’s GAAP results are made with the intent of providing both management and investors a more
complete understanding of the Company’s underlying operational results, trends, and marketplace performance. Informatica believes that the
inclusion of these non-GAAP financial measures provides consistency and comparability with its historical financial results, as well as
comparability to similar companies in the Company’s industry, many of which present similar non-GAAP financial measures to investors. In
addition, these non-GAAP financial measures are among the primary indicators management uses as a basis for its planning and forecasting of
future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income,
income from operations, or net income per share prepared in accordance with GAAP in the U.S.
Forward Looking Statements
This press release contains forward-looking statements relating to Informatica’s opportunity for growth in the data integration market,
Informatica’s integration of Applimation, and expected benefits to our customers and products. Such statements involve risks and uncertainties,
and actual results may differ materially from the results described in this press release. The potential risks and uncertainties that could cause
actual results to differ include, among others, risks related to (1) competition with larger companies that have longer operating histories and
greater financial, technical, marketing, and other resources; (2) uncertainty in the state of IT spending and the continued growth in the market
for data integration solutions in general; (3) successful integration of Applimation’s products and employees and achievement expected
synergies; and (4) lack of control regarding our strategic partners’ devotion of adequate resources to promote, sell, implement, and support our
products. Additional risks and uncertainties are included under the caption “Risk Factors” in Informatica’s report on Form 10-K for the year
ended December 31, 2008 which is on file with the SEC and is available on the Company’s investor relations website at
http://www.informatica.com/. All information provided in this release is as of April 23, 2009 and Informatica undertakes no duty to update this
information.
###
Note: Informatica and Informatica On Demand Data Loader are trademarks or registered trademark of Informatica Corporation in the United
States and in jurisdictions throughout the world. All other company and product names may be trade names or trademarks of their respective
owners.
10. INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
(unaudited)
Three Months Ended
March 31,
2009 2008
Revenues:
License $ 44,059 $ 44,209
Service 64,999 59,501
Total revenues 109,058 103,710
Cost of revenues:
License 748 693
Service 18,472 19,785
Amortization of acquired technology 1,557 620
Total cost of revenues 20,777 21,098
Gross profit 88,281 82,612
Operating expenses:
Research and development 18,183 17,724
Sales and marketing 41,438 42,787
General and administrative 10,806 8,369
Amortization of intangible assets 2,051 362
Facilities restructuring charges 809 947
Total operating expenses 73,287 70,189
Income from operations 14,994 12,423
Interest income and other, net 886 3,558
Income before income taxes 15,880 15,981
Income tax provision 4,821 4,757
Net income $ 11,059 $ 11,224
Basic net income per common share $ 0.13 $ 0.13
Diluted net income per common share (1) $ 0.12 $ 0.12
Shares used in computing basic net income per common share 86,862 88,128
Shares used in computing diluted net income per common share 100,430 103,727
(1) Diluted EPS is calculated under the “if converted” method for the three months ended March 31, 2009 and 2008. This includes the add-
back of $1.1 million of interest and convertible notes issuance cost amortization, net of applicable income taxes for both periods.
11. INFORMATICA CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
March 31, December 31,
2009 2008
(unaudited)
Assets
Current assets:
Cash and cash equivalents $ 123,349 $ 179,874
Short-term investments 296,527 281,055
Accounts receivable, net of allowances of $2,761 and $2,558 respectively 65,921 87,492
Deferred tax assets 24,112 22,336
Prepaid expenses and other current assets 16,384 12,498
Total current assets 526,293 583,255
Property and equipment, net 8,469 9,063
Goodwill and intangible assets, net 286,382 254,592
Long-term deferred tax assets 10,682 7,294
Other assets 8,302 8,908
Total assets $ 840,128 $ 863,112
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable and other current liabilities $ 58,792 $ 71,282
Accrued facilities restructuring charges 20,151 19,529
Deferred revenues 121,469 120,892
Total current liabilities 200,412 211,703
Convertible senior notes 201,000 221,000
Accrued facilities restructuring charges, less current portion 41,866 44,939
Long-term deferred revenues 6,245 8,847
Long-term income taxes payable 21,200 20,668
Stockholders’ equity 369,405 355,955
Total liabilities and stockholders’ equity $ 840,128 $ 863,112
12. INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Three Months Ended
March 31,
2009 2008
Operating activities:
Net income $ 11,059 $ 11,224
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 1,353 1,401
Gain on early extinguishment of debt (337) —
Share-based payments 4,199 4,114
Deferred income taxes (1,469) (188)
Tax benefits from stock option plans 672 2,961
Excess tax benefits from share-based payments (397) (2,335)
Amortization of intangible assets and acquired technology 3,608 982
Non-cash facilities restructuring charges 809 947
Other non-cash items 610 (652)
Changes in operating assets and liabilities:
Accounts receivable 23,730 26,678
Prepaid expenses and other assets (3,612) (3,952)
Accounts payable and other current liabilities (20,499) (16,201)
Income taxes payable 665 435
Accrued facilities restructuring charges (3,219) (2,347)
Deferred revenues (4,291) 5,979
Net cash provided by operating activities 12,881 29,046
Investing activities:
Purchases of property and equipment (577) (1,071)
Purchases of investments (146,227) (60,054)
Payment of investment in equity interests — (3,000)
Maturities and sales of investments 129,945 124,120
Business acquisition, net of cash acquired (32,976) —
Net cash provided by (used in) investing activities (49,835) 59,995
Financing activities:
Net proceeds from issuance of common stock 6,967 13,757
Repurchases and retirement of common stock (5,910) (6,349)
Repurchases of convertible senior notes (19,200) —
Excess tax benefits from share-based payments 397 2,335
Net cash provided by (used in) financing activities (17,746) 9,743
Effect of foreign exchange rate changes on cash and cash equivalents (1,825) 2,256
Net increase (decrease) in cash and cash equivalents (56,525) 101,040
Cash and cash equivalents at beginning of period 179,874 203,661
Cash and cash equivalents at end of period $ 123,349 $304,701
13. INFORMATICA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
(unaudited)
Three Months Ended Three Months Ended
March 31, 2009 March 31, 2008
GAAP Adjustments(1) Non-GAAP GAAP Adjustments(1) Non-GAAP
Revenues:
License $ 44,059 $ — $ 44,059 $ 44,209 $ — $ 44,209
Service 64,999 — 64,999 59,501 — 59,501
Total revenues 109,058 — 109,058 103,710 — 103,710
Cost of revenues:
License 748 — 748 693 — 693
Service 18,472 (531) 17,941 19,785 (546) 19,239
Amortization of acquired technology 1,557 (1,557) — 620 (620) —
Total cost of revenues 20,777 (2,088) 18,689 21,098 (1,166) 19,932
Gross profit 88,281 2,088 90,369 82,612 1,166 83,778
Operating expenses:
Research and development 18,183 (1,118) 17,065 17,724 (1,064) 16,660
Sales and marketing 41,438 (1,367) 40,071 42,787 (1,373) 41,414
General and administrative 10,806 (1,183) 9,623 8,369 (1,131) 7,238
Amortization of intangible assets 2,051 (2,051) — 362 (362) —
Facilities restructuring charges 809 (809) — 947 (947) —
Total operating expenses 73,287 (6,528) 66,759 70,189 (4,877) 65,312
Income from operations 14,994 8,616 23,610 12,423 6,043 18,466
Interest income and other, net 886 — 886 3,558 — 3,558
Income before income taxes 15,880 8,616 24,496 15,981 6,043 22,024
Income tax provision 4,821 2,542 7,363 4,757 1,554 6,311
Net income $ 11,059 $ 6,074 $ 17,133 $ 11,224 $ 4,489 $ 15,713
Net income per share:
Basic $ 0.13 $ 0.20 $ 0.13 $ 0.18
Diluted (2) $ 0.12 $ 0.18 $ 0.12 $ 0.16
Weighted shares used to compute net
income per share:
Basic 86,862 86,862 88,128 88,128
Diluted 100,430 411(3) 100,841 103,727 979(3) 104,706
(1) The following table summarizes the Non-GAAP adjustments for the respective periods presented:
Three Months Ended
March 31,
2009 2008
Net income, GAAP basis $ 11,059 $ 11,224
Amortization of acquired technology 1,557 620
Amortization of intangible assets 2,051 362
Facilities restructuring charges 809 947
Share-based payments 4,199 4,114
Tax benefit for amortization of intangible assets and restructuring charges (1,653) (752)
Tax benefit of share-based payments (889) (802)
Net income, Non-GAAP basis $ 17,133 $ 15,713
(2) Diluted EPS is calculated under the “if converted” method for the three months ended March 31, 2009 and 2008. This includes the add-
back of $1.1 million of interest and convertible notes issuance cost amortization, net of applicable income taxes for both periods.
(3) Anti-diluted shares generated from the unrecognized share-based payments under the “treasury stock method” have been added back to
the non-GAAP diluted weighted shares due to non-GAAP results excluding the share-based payments.