Ardence Software Streaming Wins Computerworld Horizon Award
Ardence, Inc., which enables breakthrough IT-management and user benefits through on-demand delivery of the operating system and applications from networked storage, today announced its software-streaming technology has been recognized by IDG's Computerworld, a leading IT industry newspaper, in its first annual Computerworld Horizon Awards.
The Computerworld Horizon Awards acknowledge leading-edge technologies developed by research labs and private companies. Nominations were reviewed and scored by a panel of ten independent judges. Based on their evaluations, Computerworld selected companies whose products demonstrate measurable business value to end-user organizations. The winning products are new to the marketplace or still in development and show considerable promise to solve real-world business problems.
"This year's Horizon Award honorees exemplify the most notable technologies that will potentially impact both consumers and enterprises in the coming years," said Don Tennant, editor-in-chief of Computerworld. Ardence software streaming received Honorable Mention.
"This is very encouraging and we certainly concur with the judges' view on the potential impact that Ardence software streaming can have in the coming years. Earning this distinction from a leading publication such as Computerworld is another significant validation of our software as game-changing technology that provides companies with a much better, more cost-effective way to manage their desktops and servers," said Richard J. Davis, Chairman, CEO and President of Ardence.
The Horizon Award is the most recent accolade Ardence has received for its software-streaming technology. The Massachusetts Innovation & Technology Exchange (MITX) named Ardence the Best Technology Operations Application at the recent 2005 MITX awards.
Ardence software-streaming solutions enable companies to centralize IT management of both the operating system and applications while providing users with speed, flexibility, and dependability - at a cost far less than any comparable approach. Ardence streams both the operating system and applications from networked storage, providing significant economic, system-management and end-user benefits at the desktop and the data center. Ardence solutions are deployed world-wide in call centers, school systems and universities, U.S. government agencies, retail enterprises and financial services.
The Horizon Award winners were profiled in a special report in the September 12 issue of Computerworld. For more information, visit: www.computerworld.com.
Monitronics Announces Results for Fourth Quarter and Fiscal Year Ended June 30, 2005
DALLAS -- Monitronics International, Inc., a leading national provider of security alarm monitoring services, today announced its financial results for the fourth quarter and fiscal year ended June 30, 2005.
Fourth Quarter Results
Total revenues were $42.1 million in the three months ended June 30, 2005 compared to $39.0 million for the three months ended June 30, 2004, which was an increase of $3.1 million, or 8%.
Earnings before interest, taxes, depreciation and amortization ("EBITDA") were $29.4 million for the three months ended June 30, 2005 compared to $28.0 million for the three months ended June 30, 2004, which was an increase of $1.4 million, or 5%.
The Company reported a net loss of $16.5 million in fiscal year 2005 compared to breakeven for fiscal 2004. The loss in fiscal 2005 was primarily due to the Company recording a $15.2 million valuation allowance against its deferred tax asset. The valuation allowance was established in accordance with Financial Accounting Standard Board Statement No. 109, Accounting for Income Taxes, as a result of experiencing a cumulative loss before income taxes for the three-year period ending June 30, 2005 and concluding that it was more likely than not that the deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which temporary differences become deductible.
Total revenues were $165.5 million in fiscal year 2005 compared to $150.3 million in fiscal year 2004, which was an increase of $15.2 million, or 10%.
EBITDA was $115.6 million in fiscal year 2005 compared to $107.8 million in fiscal year 2004, which was an increase of $7.8 million, or 7%.
Net loss was $19.2 million in fiscal year 2005 compared to net loss of $4.7 million in fiscal year 2004, which was an increase of $14.5 million. The loss in fiscal 2005 was primarily due to the Company recording a $15.2 million valuation allowance against our deferred tax asset. The valuation allowance was established in accordance with Financial Accounting Standard Board Statement No. 109, Accounting for Income Taxes, as a result of experiencing a cumulative loss before income taxes for the three-year period ending June 30, 2005 and concluding that it was more likely than not that the deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which temporary differences become deductible.
James R. Hull, Chief Executive Officer of Monitronics commented, "This year we have reported a slight increase in the 12-month attrition rate to 13.3% as a reaction to a change in the renewal policy and we expected that change to be temporary as we cancelled a specific, small number of accounts ahead of schedule." Mr. Hull continued, "It appears now that the change was temporary. We continue to make progress reducing attrition as the trailing three-month annualized attrition rate has decreased from a peak of 15.4% for the three months ended December 31, 2004 to an annualized attrition rate of 12.2% for the three months ended June 30, 2005."
EBITDA represents a non-GAAP (Generally Accepted Accounting Principles) financial measure. EBITDA is a key performance measure used in the security alarm monitoring industry and is one of the financial measures, subject to adjustments, by which our covenants are calculated under the agreements governing our debt obligations. EBITDA does not represent cash flow from operations as defined by GAAP, should not be construed as an alternative to net income, and is indicative neither of our operating performance nor of cash flows available to fund all of our cash needs. A table reconciling this measure to the appropriate GAAP measure is included in this press release.
Infotrieve Joins the Oracle® PartnerNetwork to Provide Integrated Scientific Data Management Solution
Infotrieve, Inc., (www.infotrieve.com) a global provider of content management technology and information services, today announced it has joined the Oracle(R) PartnerNetwork to provide customers in the life sciences and other R&D-intensive industries an integrated scientific data management solution. As a member, Infotrieve will act as an Oracle Database reseller and have the capability to deliver implementation efficiencies and cost-savings to customers who purchase the Infotrieve Electronic Laboratory Notebook (ELN) software solution.
"Becoming a partner in the Oracle PartnerNetwork provides Infotrieve the opportunity to expand our customer base in partnership with a recognized industry leader," said Wes Crews, president and chief executive officer at Infotrieve. "A robust database is an integral piece of our electronic laboratory notebook solution. Our relationship with Oracle allows us to provide its leading Oracle Database product directly to our clients, making the Infotrieve/ELN investment cost-effective and easy to manage."
The Infotrieve/ELN, named "Top Data Management Product" for two consecutive years by Scientific Computing & Instrumentation Magazine, is an enterprise software package that allows content to be securely collected, analyzed, stored, and shared. Customers in the biopharmaceutical, packaged foods, energy and consumer goods industries, can access and exchange experimental data while streamlining the scientific process. The Infotrieve/ELN also offers electronic witnessing and digital signature capabilities compliant with the U.S. Food and Drug Administration's Code of Federal Regulations 21 Part 11 (21 CFR 11).
"We are extremely excited to have Infotrieve join the OPN program," said Ron Huddleston, Senior Director of ISV Channels, North America, Oracle. "Infotrieve powered by Oracle brings together two leaders in the Life Science and R&D industries."
Research organizations can benefit from improved efficiencies and cost savings by working directly with Infotrieve as the primary contact for database and software inquiries. The Oracle partnership gives Infotrieve customers access to Oracle resources, including 24-hour technical support, education services, and upgrades. Infotrieve plans to leverage these rich resources to better serve its growing ELN customer base.
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