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News Article | February 20, 2017
Site: globenewswire.com

BEIJING, Feb. 20, 2017 (GLOBE NEWSWIRE) -- ATA Inc. ("ATA" or the "Company") (Nasdaq:ATAI), a leading provider of advanced testing technologies and testing-related services in China, today announced unaudited financial results for its fiscal third quarter ended December 31, 2016 (“Third Quarter 2017”). Third Quarter 2017 Financial and Operating Highlights (percentage changes and comparisons against the fiscal third quarter ended December 31, 2015 (“Third Quarter 2016”)) Mr. Kevin Ma, ATA’s Chairman and Chief Executive Officer, stated, “We were pleased to continue delivering strong operating results in the Third Quarter 2017, as exam volumes from our traditional testing services business continued to grow with substantial growth in the Fund Practitioner Certification Exam, the National Unified Certified Public Accountants (“CPA”) exam, and the National Tour Guide Qualification Examination, among others. On October 15-16, 2016, we successfully delivered the CPA exam to about 2.2 million test takers. This marks the fifth consecutive year ATA has administered the CPA exam through its nationwide test delivery platform. On November 5, 2016, we also successfully delivered the National Tour Guide Qualification Examination, which was the first exam administered by the China National Tourism Administration nationwide, across 32 provinces, municipalities and autonomous regions in China. With these recent positive developments, we remain confident in our superior ability to administer large-scale computer-based tests across China. During the quarter, revenue from the Fund Practitioner Certification Exam doubled from the prior-year quarter, and we continued to see steady growth in our private sector due to our strengthening partnerships with large enterprises that have come to rely on ATA’s quality service and excellent reputation to better serve our customers during their external/internal recruiting and selection process.” Operating Review In Third Quarter 2017, ATA delivered a total of 7.0 million billable tests, compared to 5.1 million billable tests in Third Quarter 2016. The Company had a network of 3,105 authorized test centers throughout China as of December 31, 2016, which the Company believes is the largest test center network in China operated by a commercial testing service provider. ATA has delivered approximately 87.7 million billable tests since it began operations in 1999. Third Quarter 2017 For Third Quarter 2017, ATA’s total net revenues increased 23.5% to RMB273.5 million (US$39.4 million), from RMB221.4 million in Third Quarter 2016. This was driven by increased volumes from both new and existing exams such as the Fund Practitioners Certification Exam, the CPA exam, the National Tour Guide Qualification Exam, the Qualification Exam for Housing and Urban-Rural Construction Field Professionals, and revenue contributions from the CTA exam, which was held in Third Quarter 2017 versus Fourth Quarter 2016 in the previous fiscal year. Gross profit for Third Quarter 2017 was RMB138.9 million (US$20.0 million), an increase of 26.6% from RMB109.7 million in the Third Quarter 2016. Gross margin was 50.8% in the Third Quarter 2017, compared to 49.5% in the Third Quarter 2016. The increase in gross margin was primarily due to the change in revenue mix. Income from operations in Third Quarter 2017 was RMB93.8 million (US$13.5 million), an increase of 34.1% from RMB69.9 million in Third Quarter 2016. Net income attributable to ATA Inc. for Third Quarter 2017 was RMB75.4 million (US$10.9 million), an increase of 52.8% from RMB49.4 million in Third Quarter 2016. For the Third Quarter 2017, basic and diluted earnings per common share attributable to ATA Inc. were both RMB1.65 (US$0.24), compared to RMB1.08 in the Third Quarter 2016. Basic and diluted earnings per ADS attributable to ATA Inc. were both RMB3.30 (US$0.48) in Third Quarter 2017, compared to RMB2.16 in Third Quarter 2016. Non-GAAP Measures Adjusted net income attributable to ATA Inc. for Third Quarter 2017, which excludes share-based compensation expense and foreign currency exchange loss (non-GAAP), increased 48.9% to RMB76.5 million (US$11.0 million), from RMB51.4 million in the prior-year period. Basic and diluted earnings per common share attributable to ATA Inc. excluding share-based compensation expense and foreign currency exchange loss (non-GAAP) for the Third Quarter 2017 were both RMB1.67 (US$0.24). Basic and diluted earnings per ADS attributable to ATA Inc. excluding share-based compensation expense and foreign currency exchange loss (non-GAAP) for Third Quarter 2017 were both RMB3.34 (US$0.48), compared to RMB2.24 in the prior-year period. Please see the note about non-GAAP measures and the reconciliation table at the end of this press release. Other Data The number of weighted average ADSs used to calculate both basic and diluted earnings per ADS for Third Quarter 2017 was 22.9 million. Each ADS represents two common shares. Balance Sheet Highlights As of December 31, 2016, ATA’s cash and cash equivalents were RMB247.7 million (US$35.7 million); working capital was RMB206.7 million (US$29.8 million); and total shareholders’ equity was RMB442.6 million (US$63.7 million), compared to RMB247.7 million, RMB245.8 million, and RMB394.2 million, respectively, as of March 31, 2016. Guidance for Fiscal Year 2017 and for Fourth Quarter 2017 For the Fourth Quarter 2017, ATA expects net revenues of between RMB26.0 million and RMB31.0 million. For Fiscal Year 2017, ATA expects net revenues of between RMB455.0 million and RMB475.0 million and non-GAAP net income attributable to ATA Inc. of between nil and RMB10.0 million, primarily due to the impairment loss of RMB21.9 million related to the previously announced equity method investment in an associated company as well as impact from the Company’s planned investment of around RMB20.0 million in the abovementioned K-12 education assessment project in Fiscal Year 2017. These are ATA’s current projections, which are subject to change. You are cautioned that the operating results in Third Quarter 2017 are not necessarily indicative of operating results for any future periods. Conference Call and Webcast Information (With Accompanying Presentation) ATA will host a conference call at 8 a.m. Eastern Time on Tuesday, February 21, 2017, during which management will discuss the results of Third Quarter 2017. To participate in the conference call, please use the following dial-in numbers about 10 minutes prior to the scheduled conference call time: A live webcast of the conference call can be accessed at the investor relations section of ATA’s website at www.atai.net.cn or by clicking the following link: https://www.webcaster4.com/Webcast/Page/274/19455 . An accompanying slide presentation in PDF format will also be made available 30 minutes prior to the conference call on the same investor relations section of ATA’s website. To listen to the webcast, please visit ATA’s website a few minutes prior to the start of the call to register, download, and install any necessary audio software. A replay will be available shortly after the call on the investor relations section of ATA's website and will remain available for 90 days. About ATA Inc. ATA is a leading provider of advanced testing technologies in China. The Company offers comprehensive services for the creation and delivery of assessments based on its proprietary testing technologies and test delivery platform. ATA’s testing technologies are used for professional licensure and certification tests in various industries, including information technology services, banking, teaching, asset management, insurance, and accounting. As of December 31, 2016, ATA's test center network comprised 3,105 authorized test centers located throughout China. The Company believes that it has the largest test center network of any commercial testing service provider in China. ATA has delivered more than 87.7 million billable tests since ATA started operations in 1999. For more information, please visit ATA’s website at www.atai.net.cn. Cautionary Note Regarding Forward-looking Statements This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terms such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "future," "intend," "look forward to," "outlook," "plan," "should," "will," and similar terms and include, among other things, the Company’s guidance relating to anticipated financial and operating results for the Fourth Quarter 2017 and Fiscal Year 2017 and statements regarding market demand and trends, the delivery of and expansion of region coverage for various new exams including the Qualification Exam for Housing and Urban-Rural Construction Field Professionals, the anticipated benefits of listing of ATA Online on the New Third Board and the completion of its private placement transaction, the plan of investment in the K-12 education assessment and recruitment sectors, the anticipated benefits of investment by a strategic investor in ATA Learning Data & Technology (Beijing) Limited and the Company’s future growth and results of operations. The factors that could cause the Company’s actual financial and operating results to differ from what the Company currently anticipates can include its ability to meet challenges associated with its rapid expansion, its ability to meet the expectations of current and future clients, its ability to deploy new test titles, its ability to win new enterprise contracts, its ability to convert its existing contracts into actual revenues, the economy of China, uncertainties with respect to the China’s legal and regulatory environments, and other factors stated in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”). The financial information contained in this release should be read in conjunction with the consolidated financial statements and related notes included in the Company’s annual report on Form 20-F for its fiscal year ended March 31, 2016, and other filings that ATA has made with the SEC. The filings are available on the SEC’s website at www.sec.gov and at ATA’s website at www.atai.net.cn. For additional information on the risk factors that could adversely affect the Company’s business, financial condition, results of operations, and prospects, please see the "Risk Factors" section of the Company's Form 20-F for the fiscal year ended March 31, 2016. The preliminary results for Third Quarter 2017 remain subject to the finalization of the Company’s year-end closing and reporting processes. The forward-looking statements in this release involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about ATA and the markets in which it operates. The Company undertakes no obligation to update forward-looking statements, which speak only as of the date of this release, to reflect subsequent events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, the Company cannot assure you that its expectations and assumptions will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Currency Convenience Translation The Company's financial information is stated in Renminbi (“RMB”), the currency of the People’s Republic of China. The translation of RMB amounts for Third Quarter 2017 ended December 31, 2016, into U.S. dollars are included solely for the convenience of readers and have been made at the rate of RMB6.9430 to US$1.00, the noon buying rate as of December 30, 2016, in New York for cable transfers in RMB per U.S. dollar as set forth in the H.10 weekly statistical release of the Federal Reserve Board. Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate, or to be the amounts that would have been reported under U.S. GAAP. About Non-GAAP Financial Measures To supplement ATA's consolidated financial information presented in accordance with U.S. generally accepted accounting principles ("GAAP"), ATA uses the following non-GAAP financial measures: net income (loss) excluding share-based compensation expense and foreign currency exchange gain or loss, and basic and diluted earnings (losses) per common share and ADS excluding share-based compensation expense and foreign currency exchange gain or loss. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. ATA believes these non-GAAP financial measures provide meaningful supplemental information about its performance by excluding share-based compensation expense and foreign currency exchange gains or losses, which may not be indicative of its operating performance. ATA believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to ATA's historical performance. ATA computes its non-GAAP financial measures using a consistent method from period to period. ATA believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using non-GAAP net income (loss) excluding share-based compensation expense and foreign currency exchange gains or losses and basic and diluted earnings (losses) per common share and per ADS excluding share-based compensation expense and foreign currency exchange gain or loss is that share-based compensation charges and foreign currency exchange gains or losses have been, and are expected to continue to be for the foreseeable future, a significant recurring expense in ATA's business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The table captioned "Reconciliations of Non-GAAP Measures to the Most Comparable GAAP Measures" shown at the end this news release has more details on the reconciliations between GAAP financial measures that are most directly comparable to the non-GAAP financial measures used by ATA.


News Article | February 20, 2017
Site: globenewswire.com

BEIJING, Feb. 20, 2017 (GLOBE NEWSWIRE) -- ATA Inc. ("ATA" or the "Company") (Nasdaq:ATAI), a leading provider of advanced testing technologies and testing-related services in China, today announced unaudited financial results for its fiscal third quarter ended December 31, 2016 (“Third Quarter 2017”). Third Quarter 2017 Financial and Operating Highlights (percentage changes and comparisons against the fiscal third quarter ended December 31, 2015 (“Third Quarter 2016”)) Mr. Kevin Ma, ATA’s Chairman and Chief Executive Officer, stated, “We were pleased to continue delivering strong operating results in the Third Quarter 2017, as exam volumes from our traditional testing services business continued to grow with substantial growth in the Fund Practitioner Certification Exam, the National Unified Certified Public Accountants (“CPA”) exam, and the National Tour Guide Qualification Examination, among others. On October 15-16, 2016, we successfully delivered the CPA exam to about 2.2 million test takers. This marks the fifth consecutive year ATA has administered the CPA exam through its nationwide test delivery platform. On November 5, 2016, we also successfully delivered the National Tour Guide Qualification Examination, which was the first exam administered by the China National Tourism Administration nationwide, across 32 provinces, municipalities and autonomous regions in China. With these recent positive developments, we remain confident in our superior ability to administer large-scale computer-based tests across China. During the quarter, revenue from the Fund Practitioner Certification Exam doubled from the prior-year quarter, and we continued to see steady growth in our private sector due to our strengthening partnerships with large enterprises that have come to rely on ATA’s quality service and excellent reputation to better serve our customers during their external/internal recruiting and selection process.” Operating Review In Third Quarter 2017, ATA delivered a total of 7.0 million billable tests, compared to 5.1 million billable tests in Third Quarter 2016. The Company had a network of 3,105 authorized test centers throughout China as of December 31, 2016, which the Company believes is the largest test center network in China operated by a commercial testing service provider. ATA has delivered approximately 87.7 million billable tests since it began operations in 1999. Third Quarter 2017 For Third Quarter 2017, ATA’s total net revenues increased 23.5% to RMB273.5 million (US$39.4 million), from RMB221.4 million in Third Quarter 2016. This was driven by increased volumes from both new and existing exams such as the Fund Practitioners Certification Exam, the CPA exam, the National Tour Guide Qualification Exam, the Qualification Exam for Housing and Urban-Rural Construction Field Professionals, and revenue contributions from the CTA exam, which was held in Third Quarter 2017 versus Fourth Quarter 2016 in the previous fiscal year. Gross profit for Third Quarter 2017 was RMB138.9 million (US$20.0 million), an increase of 26.6% from RMB109.7 million in the Third Quarter 2016. Gross margin was 50.8% in the Third Quarter 2017, compared to 49.5% in the Third Quarter 2016. The increase in gross margin was primarily due to the change in revenue mix. Income from operations in Third Quarter 2017 was RMB93.8 million (US$13.5 million), an increase of 34.1% from RMB69.9 million in Third Quarter 2016. Net income attributable to ATA Inc. for Third Quarter 2017 was RMB75.4 million (US$10.9 million), an increase of 52.8% from RMB49.4 million in Third Quarter 2016. For the Third Quarter 2017, basic and diluted earnings per common share attributable to ATA Inc. were both RMB1.65 (US$0.24), compared to RMB1.08 in the Third Quarter 2016. Basic and diluted earnings per ADS attributable to ATA Inc. were both RMB3.30 (US$0.48) in Third Quarter 2017, compared to RMB2.16 in Third Quarter 2016. Non-GAAP Measures Adjusted net income attributable to ATA Inc. for Third Quarter 2017, which excludes share-based compensation expense and foreign currency exchange loss (non-GAAP), increased 48.9% to RMB76.5 million (US$11.0 million), from RMB51.4 million in the prior-year period. Basic and diluted earnings per common share attributable to ATA Inc. excluding share-based compensation expense and foreign currency exchange loss (non-GAAP) for the Third Quarter 2017 were both RMB1.67 (US$0.24). Basic and diluted earnings per ADS attributable to ATA Inc. excluding share-based compensation expense and foreign currency exchange loss (non-GAAP) for Third Quarter 2017 were both RMB3.34 (US$0.48), compared to RMB2.24 in the prior-year period. Please see the note about non-GAAP measures and the reconciliation table at the end of this press release. Other Data The number of weighted average ADSs used to calculate both basic and diluted earnings per ADS for Third Quarter 2017 was 22.9 million. Each ADS represents two common shares. Balance Sheet Highlights As of December 31, 2016, ATA’s cash and cash equivalents were RMB247.7 million (US$35.7 million); working capital was RMB206.7 million (US$29.8 million); and total shareholders’ equity was RMB442.6 million (US$63.7 million), compared to RMB247.7 million, RMB245.8 million, and RMB394.2 million, respectively, as of March 31, 2016. Guidance for Fiscal Year 2017 and for Fourth Quarter 2017 For the Fourth Quarter 2017, ATA expects net revenues of between RMB26.0 million and RMB31.0 million. For Fiscal Year 2017, ATA expects net revenues of between RMB455.0 million and RMB475.0 million and non-GAAP net income attributable to ATA Inc. of between nil and RMB10.0 million, primarily due to the impairment loss of RMB21.9 million related to the previously announced equity method investment in an associated company as well as impact from the Company’s planned investment of around RMB20.0 million in the abovementioned K-12 education assessment project in Fiscal Year 2017. These are ATA’s current projections, which are subject to change. You are cautioned that the operating results in Third Quarter 2017 are not necessarily indicative of operating results for any future periods. Conference Call and Webcast Information (With Accompanying Presentation) ATA will host a conference call at 8 a.m. Eastern Time on Tuesday, February 21, 2017, during which management will discuss the results of Third Quarter 2017. To participate in the conference call, please use the following dial-in numbers about 10 minutes prior to the scheduled conference call time: A live webcast of the conference call can be accessed at the investor relations section of ATA’s website at www.atai.net.cn or by clicking the following link: https://www.webcaster4.com/Webcast/Page/274/19455 . An accompanying slide presentation in PDF format will also be made available 30 minutes prior to the conference call on the same investor relations section of ATA’s website. To listen to the webcast, please visit ATA’s website a few minutes prior to the start of the call to register, download, and install any necessary audio software. A replay will be available shortly after the call on the investor relations section of ATA's website and will remain available for 90 days. About ATA Inc. ATA is a leading provider of advanced testing technologies in China. The Company offers comprehensive services for the creation and delivery of assessments based on its proprietary testing technologies and test delivery platform. ATA’s testing technologies are used for professional licensure and certification tests in various industries, including information technology services, banking, teaching, asset management, insurance, and accounting. As of December 31, 2016, ATA's test center network comprised 3,105 authorized test centers located throughout China. The Company believes that it has the largest test center network of any commercial testing service provider in China. ATA has delivered more than 87.7 million billable tests since ATA started operations in 1999. For more information, please visit ATA’s website at www.atai.net.cn. Cautionary Note Regarding Forward-looking Statements This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terms such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "future," "intend," "look forward to," "outlook," "plan," "should," "will," and similar terms and include, among other things, the Company’s guidance relating to anticipated financial and operating results for the Fourth Quarter 2017 and Fiscal Year 2017 and statements regarding market demand and trends, the delivery of and expansion of region coverage for various new exams including the Qualification Exam for Housing and Urban-Rural Construction Field Professionals, the anticipated benefits of listing of ATA Online on the New Third Board and the completion of its private placement transaction, the plan of investment in the K-12 education assessment and recruitment sectors, the anticipated benefits of investment by a strategic investor in ATA Learning Data & Technology (Beijing) Limited and the Company’s future growth and results of operations. The factors that could cause the Company’s actual financial and operating results to differ from what the Company currently anticipates can include its ability to meet challenges associated with its rapid expansion, its ability to meet the expectations of current and future clients, its ability to deploy new test titles, its ability to win new enterprise contracts, its ability to convert its existing contracts into actual revenues, the economy of China, uncertainties with respect to the China’s legal and regulatory environments, and other factors stated in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”). The financial information contained in this release should be read in conjunction with the consolidated financial statements and related notes included in the Company’s annual report on Form 20-F for its fiscal year ended March 31, 2016, and other filings that ATA has made with the SEC. The filings are available on the SEC’s website at www.sec.gov and at ATA’s website at www.atai.net.cn. For additional information on the risk factors that could adversely affect the Company’s business, financial condition, results of operations, and prospects, please see the "Risk Factors" section of the Company's Form 20-F for the fiscal year ended March 31, 2016. The preliminary results for Third Quarter 2017 remain subject to the finalization of the Company’s year-end closing and reporting processes. The forward-looking statements in this release involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about ATA and the markets in which it operates. The Company undertakes no obligation to update forward-looking statements, which speak only as of the date of this release, to reflect subsequent events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, the Company cannot assure you that its expectations and assumptions will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Currency Convenience Translation The Company's financial information is stated in Renminbi (“RMB”), the currency of the People’s Republic of China. The translation of RMB amounts for Third Quarter 2017 ended December 31, 2016, into U.S. dollars are included solely for the convenience of readers and have been made at the rate of RMB6.9430 to US$1.00, the noon buying rate as of December 30, 2016, in New York for cable transfers in RMB per U.S. dollar as set forth in the H.10 weekly statistical release of the Federal Reserve Board. Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate, or to be the amounts that would have been reported under U.S. GAAP. About Non-GAAP Financial Measures To supplement ATA's consolidated financial information presented in accordance with U.S. generally accepted accounting principles ("GAAP"), ATA uses the following non-GAAP financial measures: net income (loss) excluding share-based compensation expense and foreign currency exchange gain or loss, and basic and diluted earnings (losses) per common share and ADS excluding share-based compensation expense and foreign currency exchange gain or loss. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. ATA believes these non-GAAP financial measures provide meaningful supplemental information about its performance by excluding share-based compensation expense and foreign currency exchange gains or losses, which may not be indicative of its operating performance. ATA believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to ATA's historical performance. ATA computes its non-GAAP financial measures using a consistent method from period to period. ATA believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using non-GAAP net income (loss) excluding share-based compensation expense and foreign currency exchange gains or losses and basic and diluted earnings (losses) per common share and per ADS excluding share-based compensation expense and foreign currency exchange gain or loss is that share-based compensation charges and foreign currency exchange gains or losses have been, and are expected to continue to be for the foreseeable future, a significant recurring expense in ATA's business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The table captioned "Reconciliations of Non-GAAP Measures to the Most Comparable GAAP Measures" shown at the end this news release has more details on the reconciliations between GAAP financial measures that are most directly comparable to the non-GAAP financial measures used by ATA.


News Article | February 20, 2017
Site: globenewswire.com

BEIJING, Feb. 20, 2017 (GLOBE NEWSWIRE) -- ATA Inc. ("ATA" or the "Company") (Nasdaq:ATAI), a leading provider of advanced testing technologies and testing-related services in China, today announced unaudited financial results for its fiscal third quarter ended December 31, 2016 (“Third Quarter 2017”). Third Quarter 2017 Financial and Operating Highlights (percentage changes and comparisons against the fiscal third quarter ended December 31, 2015 (“Third Quarter 2016”)) Mr. Kevin Ma, ATA’s Chairman and Chief Executive Officer, stated, “We were pleased to continue delivering strong operating results in the Third Quarter 2017, as exam volumes from our traditional testing services business continued to grow with substantial growth in the Fund Practitioner Certification Exam, the National Unified Certified Public Accountants (“CPA”) exam, and the National Tour Guide Qualification Examination, among others. On October 15-16, 2016, we successfully delivered the CPA exam to about 2.2 million test takers. This marks the fifth consecutive year ATA has administered the CPA exam through its nationwide test delivery platform. On November 5, 2016, we also successfully delivered the National Tour Guide Qualification Examination, which was the first exam administered by the China National Tourism Administration nationwide, across 32 provinces, municipalities and autonomous regions in China. With these recent positive developments, we remain confident in our superior ability to administer large-scale computer-based tests across China. During the quarter, revenue from the Fund Practitioner Certification Exam doubled from the prior-year quarter, and we continued to see steady growth in our private sector due to our strengthening partnerships with large enterprises that have come to rely on ATA’s quality service and excellent reputation to better serve our customers during their external/internal recruiting and selection process.” Operating Review In Third Quarter 2017, ATA delivered a total of 7.0 million billable tests, compared to 5.1 million billable tests in Third Quarter 2016. The Company had a network of 3,105 authorized test centers throughout China as of December 31, 2016, which the Company believes is the largest test center network in China operated by a commercial testing service provider. ATA has delivered approximately 87.7 million billable tests since it began operations in 1999. Third Quarter 2017 For Third Quarter 2017, ATA’s total net revenues increased 23.5% to RMB273.5 million (US$39.4 million), from RMB221.4 million in Third Quarter 2016. This was driven by increased volumes from both new and existing exams such as the Fund Practitioners Certification Exam, the CPA exam, the National Tour Guide Qualification Exam, the Qualification Exam for Housing and Urban-Rural Construction Field Professionals, and revenue contributions from the CTA exam, which was held in Third Quarter 2017 versus Fourth Quarter 2016 in the previous fiscal year. Gross profit for Third Quarter 2017 was RMB138.9 million (US$20.0 million), an increase of 26.6% from RMB109.7 million in the Third Quarter 2016. Gross margin was 50.8% in the Third Quarter 2017, compared to 49.5% in the Third Quarter 2016. The increase in gross margin was primarily due to the change in revenue mix. Income from operations in Third Quarter 2017 was RMB93.8 million (US$13.5 million), an increase of 34.1% from RMB69.9 million in Third Quarter 2016. Net income attributable to ATA Inc. for Third Quarter 2017 was RMB75.4 million (US$10.9 million), an increase of 52.8% from RMB49.4 million in Third Quarter 2016. For the Third Quarter 2017, basic and diluted earnings per common share attributable to ATA Inc. were both RMB1.65 (US$0.24), compared to RMB1.08 in the Third Quarter 2016. Basic and diluted earnings per ADS attributable to ATA Inc. were both RMB3.30 (US$0.48) in Third Quarter 2017, compared to RMB2.16 in Third Quarter 2016. Non-GAAP Measures Adjusted net income attributable to ATA Inc. for Third Quarter 2017, which excludes share-based compensation expense and foreign currency exchange loss (non-GAAP), increased 48.9% to RMB76.5 million (US$11.0 million), from RMB51.4 million in the prior-year period. Basic and diluted earnings per common share attributable to ATA Inc. excluding share-based compensation expense and foreign currency exchange loss (non-GAAP) for the Third Quarter 2017 were both RMB1.67 (US$0.24). Basic and diluted earnings per ADS attributable to ATA Inc. excluding share-based compensation expense and foreign currency exchange loss (non-GAAP) for Third Quarter 2017 were both RMB3.34 (US$0.48), compared to RMB2.24 in the prior-year period. Please see the note about non-GAAP measures and the reconciliation table at the end of this press release. Other Data The number of weighted average ADSs used to calculate both basic and diluted earnings per ADS for Third Quarter 2017 was 22.9 million. Each ADS represents two common shares. Balance Sheet Highlights As of December 31, 2016, ATA’s cash and cash equivalents were RMB247.7 million (US$35.7 million); working capital was RMB206.7 million (US$29.8 million); and total shareholders’ equity was RMB442.6 million (US$63.7 million), compared to RMB247.7 million, RMB245.8 million, and RMB394.2 million, respectively, as of March 31, 2016. Guidance for Fiscal Year 2017 and for Fourth Quarter 2017 For the Fourth Quarter 2017, ATA expects net revenues of between RMB26.0 million and RMB31.0 million. For Fiscal Year 2017, ATA expects net revenues of between RMB455.0 million and RMB475.0 million and non-GAAP net income attributable to ATA Inc. of between nil and RMB10.0 million, primarily due to the impairment loss of RMB21.9 million related to the previously announced equity method investment in an associated company as well as impact from the Company’s planned investment of around RMB20.0 million in the abovementioned K-12 education assessment project in Fiscal Year 2017. These are ATA’s current projections, which are subject to change. You are cautioned that the operating results in Third Quarter 2017 are not necessarily indicative of operating results for any future periods. Conference Call and Webcast Information (With Accompanying Presentation) ATA will host a conference call at 8 a.m. Eastern Time on Tuesday, February 21, 2017, during which management will discuss the results of Third Quarter 2017. To participate in the conference call, please use the following dial-in numbers about 10 minutes prior to the scheduled conference call time: A live webcast of the conference call can be accessed at the investor relations section of ATA’s website at www.atai.net.cn or by clicking the following link: https://www.webcaster4.com/Webcast/Page/274/19455 . An accompanying slide presentation in PDF format will also be made available 30 minutes prior to the conference call on the same investor relations section of ATA’s website. To listen to the webcast, please visit ATA’s website a few minutes prior to the start of the call to register, download, and install any necessary audio software. A replay will be available shortly after the call on the investor relations section of ATA's website and will remain available for 90 days. About ATA Inc. ATA is a leading provider of advanced testing technologies in China. The Company offers comprehensive services for the creation and delivery of assessments based on its proprietary testing technologies and test delivery platform. ATA’s testing technologies are used for professional licensure and certification tests in various industries, including information technology services, banking, teaching, asset management, insurance, and accounting. As of December 31, 2016, ATA's test center network comprised 3,105 authorized test centers located throughout China. The Company believes that it has the largest test center network of any commercial testing service provider in China. ATA has delivered more than 87.7 million billable tests since ATA started operations in 1999. For more information, please visit ATA’s website at www.atai.net.cn. Cautionary Note Regarding Forward-looking Statements This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terms such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "future," "intend," "look forward to," "outlook," "plan," "should," "will," and similar terms and include, among other things, the Company’s guidance relating to anticipated financial and operating results for the Fourth Quarter 2017 and Fiscal Year 2017 and statements regarding market demand and trends, the delivery of and expansion of region coverage for various new exams including the Qualification Exam for Housing and Urban-Rural Construction Field Professionals, the anticipated benefits of listing of ATA Online on the New Third Board and the completion of its private placement transaction, the plan of investment in the K-12 education assessment and recruitment sectors, the anticipated benefits of investment by a strategic investor in ATA Learning Data & Technology (Beijing) Limited and the Company’s future growth and results of operations. The factors that could cause the Company’s actual financial and operating results to differ from what the Company currently anticipates can include its ability to meet challenges associated with its rapid expansion, its ability to meet the expectations of current and future clients, its ability to deploy new test titles, its ability to win new enterprise contracts, its ability to convert its existing contracts into actual revenues, the economy of China, uncertainties with respect to the China’s legal and regulatory environments, and other factors stated in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”). The financial information contained in this release should be read in conjunction with the consolidated financial statements and related notes included in the Company’s annual report on Form 20-F for its fiscal year ended March 31, 2016, and other filings that ATA has made with the SEC. The filings are available on the SEC’s website at www.sec.gov and at ATA’s website at www.atai.net.cn. For additional information on the risk factors that could adversely affect the Company’s business, financial condition, results of operations, and prospects, please see the "Risk Factors" section of the Company's Form 20-F for the fiscal year ended March 31, 2016. The preliminary results for Third Quarter 2017 remain subject to the finalization of the Company’s year-end closing and reporting processes. The forward-looking statements in this release involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about ATA and the markets in which it operates. The Company undertakes no obligation to update forward-looking statements, which speak only as of the date of this release, to reflect subsequent events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, the Company cannot assure you that its expectations and assumptions will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Currency Convenience Translation The Company's financial information is stated in Renminbi (“RMB”), the currency of the People’s Republic of China. The translation of RMB amounts for Third Quarter 2017 ended December 31, 2016, into U.S. dollars are included solely for the convenience of readers and have been made at the rate of RMB6.9430 to US$1.00, the noon buying rate as of December 30, 2016, in New York for cable transfers in RMB per U.S. dollar as set forth in the H.10 weekly statistical release of the Federal Reserve Board. Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate, or to be the amounts that would have been reported under U.S. GAAP. About Non-GAAP Financial Measures To supplement ATA's consolidated financial information presented in accordance with U.S. generally accepted accounting principles ("GAAP"), ATA uses the following non-GAAP financial measures: net income (loss) excluding share-based compensation expense and foreign currency exchange gain or loss, and basic and diluted earnings (losses) per common share and ADS excluding share-based compensation expense and foreign currency exchange gain or loss. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. ATA believes these non-GAAP financial measures provide meaningful supplemental information about its performance by excluding share-based compensation expense and foreign currency exchange gains or losses, which may not be indicative of its operating performance. ATA believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management's internal comparisons to ATA's historical performance. ATA computes its non-GAAP financial measures using a consistent method from period to period. ATA believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using non-GAAP net income (loss) excluding share-based compensation expense and foreign currency exchange gains or losses and basic and diluted earnings (losses) per common share and per ADS excluding share-based compensation expense and foreign currency exchange gain or loss is that share-based compensation charges and foreign currency exchange gains or losses have been, and are expected to continue to be for the foreseeable future, a significant recurring expense in ATA's business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The table captioned "Reconciliations of Non-GAAP Measures to the Most Comparable GAAP Measures" shown at the end this news release has more details on the reconciliations between GAAP financial measures that are most directly comparable to the non-GAAP financial measures used by ATA.


OTTAWA, ONTARIO--(Marketwired - Feb. 16, 2017) - PhytoPain Pharma Inc. (PPP), a subsidiary of Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (CSE:TBP)(CSE:TBP.CN), a pharmaceutical company focused on developing and commercializing therapeutic cannabis-based products for the treatment of pain is pleased to announce that the Therapeutic Products Directorate (TPD) of Health Canada has approved its Phase I clinical study of smoked cannabis. Tetra has worked with Algorithme Pharma, an Altasciences company, for the preparation of the Clinical Trial Application (CTA) for the conduct of a Double-Blind Phase I Study to Assess Safety, Tolerability, Pharmacodynamics and Pharmacokinetics of Single and Multiple Daily Ascending Doses of Cannabis (Delta-9-tetrahydrocannabinol/ Cannabidiol) by Smoking/Inhalation in Healthy Male and Female Volunteers. The CTA was submitted to Health Canada and the research ethics review board in December 2016. On January 3, 2017, the clinical trial received approval from the Institutional Review Board. TPD issued a Letter of Authorization for the conduct of the Phase I clinical trial on February 16, 2017. Algorithme Pharma will be initiating the clinical trial activities in the coming weeks. ²We are very pleased to announce the authorisation of the Phase I clinical trial by TPD. This is an important milestone in the clinical development of smoked Cannabis in North America and we are proud to be working with Algorithme pharma, a Clinical Research Organization with many years of experience and expertise in the conduct of Phase I clinical studies,² said Dr. Chamberland, Chief Science Officer. "This trial is part of Tetra's commitment to develop medical Cannabis as a prescription drug for patients. The outcome of this trial is going to have significant implications in medical Cannabis research as it is a first pharmaceutical clinical trial assessing the effects of smoked Cannabis on cognitive function in healthy volunteers" said Mr. Rancourt, Chief Executive Officer Earlier this month, Tetra and IntelGenx announced the co-development of Dronabinol AdVersa® Mucoadhesive controlled-release tablet for the management of Breakthrough Cancer Pain. The significant advantage of the Mucoadhesive technology was demonstrated in a Phase I clinical trial. The study demonstrated the delayed-release of THC avoids a rapid increase in the blood. ²With both of these products in clinical development, Tetra is on track with its objective to bring Cannabis-based prescription drugs to the market. Both of these products are promising alternatives in the battle for the reduction of opioids and improving quality of life in patients with chronic pain², added Dr. Chamberland. The Canadian Securities Exchange ("CSE") has not reviewed this news release and does not accept responsibility for its adequacy or accuracy. Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a licence for the production of medical marijuana; failure to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.


OTTAWA, ONTARIO--(Marketwired - Feb. 16, 2017) - PhytoPain Pharma Inc. (PPP), a subsidiary of Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (CSE:TBP)(CSE:TBP.CN)(OTC PINK:GRPOF), a pharmaceutical company focused on developing and commercializing therapeutic cannabis-based products for the treatment of pain is pleased to announce that the Therapeutic Products Directorate (TPD) of Health Canada has approved its Phase I clinical study of smoked cannabis. Tetra has worked with Algorithme Pharma, an Altasciences company, for the preparation of the Clinical Trial Application (CTA) for the conduct of a Double-Blind Phase I Study to Assess Safety, Tolerability, Pharmacodynamics and Pharmacokinetics of Single and Multiple Daily Ascending Doses of Cannabis (Delta-9-tetrahydrocannabinol/ Cannabidiol) by Smoking/Inhalation in Healthy Male and Female Volunteers. The CTA was submitted to Health Canada and the research ethics review board in December 2016. On January 3, 2017, the clinical trial received approval from the Institutional Review Board. TPD issued a Letter of Authorization for the conduct of the Phase I clinical trial on February 16, 2017. Algorithme Pharma will be initiating the clinical trial activities in the coming weeks. ²We are very pleased to announce the authorisation of the Phase I clinical trial by TPD. This is an important milestone in the clinical development of smoked Cannabis in North America and we are proud to be working with Algorithme pharma, a Clinical Research Organization with many years of experience and expertise in the conduct of Phase I clinical studies,² said Dr. Chamberland, Chief Science Officer. "This trial is part of Tetra's commitment to develop medical Cannabis as a prescription drug for patients. The outcome of this trial is going to have significant implications in medical Cannabis research as it is a first pharmaceutical clinical trial assessing the effects of smoked Cannabis on cognitive function in healthy volunteers" said Mr. Rancourt, Chief Executive Officer Earlier this month, Tetra and IntelGenx announced the co-development of Dronabinol AdVersa® Mucoadhesive controlled-release tablet for the management of Breakthrough Cancer Pain. The significant advantage of the Mucoadhesive technology was demonstrated in a Phase I clinical trial. The study demonstrated the delayed-release of THC avoids a rapid increase in the blood. ²With both of these products in clinical development, Tetra is on track with its objective to bring Cannabis-based prescription drugs to the market. Both of these products are promising alternatives in the battle for the reduction of opioids and improving quality of life in patients with chronic pain², added Dr. Chamberland. The Canadian Securities Exchange ("CSE") has not reviewed this news release and does not accept responsibility for its adequacy or accuracy. Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company, through its wholly-owned subsidiary, GrowPros MMP Inc., to obtain a licence for the production of medical marijuana; failure to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.


News Article | February 15, 2017
Site: www.businesswire.com

ARLINGTON, Va.--(BUSINESS WIRE)--The Consumer Technology Association (CTA)TM today announced that CES AsiaTM 2017 is set for another showstopping, record smashing year. Four months out from the third annual event, nearly 10,500 net square meters (112,902 net square feet) of exhibit space have been sold, up 10 percent from this time last year. Owned and produced by the Consumer Technology Association (CTA)™ and co-produced by Shanghai Intex Exhibition Co., Ltd, CES Asia 2017 will take place June 7-9, 2017, in Shanghai, China at the Shanghai New International Expo Centre (SNIEC). More than 200 notable companies are already slated to exhibit at CES Asia 2017, including Audio-Technica, Baidu, Continental Automotive Holding, Digital China, DJI, Fossil/Misfit, Garmin, Gibson Brands, Haier, Huawei, Intel, LeEco, Monster, NavInfo, Onkyo, OtterBox, Pioneer, Scosche, Suning, UPS, USPS, Valeo, Volvo, Voxx, Wacom and Yuneec. More information on exhibiting companies will be posted on CESAsia.com in the coming weeks. “CES Asia is a fast growing technology tradeshow,” said Karen Chupka, senior vice president, CES and corporate business strategy, CTA. “The growth we’ve seen with this event is indicative of the rapidly growing Asian market and involvement of multiple technology industries debuting groundbreaking innovations. Our show is becoming a must-attend event for companies from around the world to launch new products and create lasting partnerships in the Asian market.” Ultimately, CES Asia 2017 is expected to draw more than 30,000 attendees and more than 1,100 global media to cover some 450 exhibiting companies showcasing innovation across 19 product categories, including major growth areas such as drones, the Internet of Things (IoT) and virtual reality. Registration for CES Asia 2017 is now open. For more information on how to exhibit or register, please visit CESAsia.com. Note to Editors: Journalists traveling from outside of China will require a J-1 or J-2 visa. For questions about exhibiting at CES Asia, contact Brian Moon at bmoon@cta.tech or +1 703-907-4351. Owned and produced by the Consumer Technology Association (CTA)TM and co-produced by Shanghai Intex Exhibition Co., Ltd (Shanghai Intex), CES Asia is the premier event for the consumer technology industry, showcasing the full breadth and depth of the innovation value-chain in the Asian marketplace. Key global businesses come to this new event to grow and reinforce their brand by showcasing the latest products and technologies to consumer tech industry executives, foreign buyers, international media and a limited number of consumers from China. Attendees have exclusive access to some of the largest brands from China and around the world, while celebrating the innovation that defines the consumer technology sector. Consumer Technology Association (CTA)TM is the trade association representing the $292 billion U.S. consumer technology industry, which supports more than 15 million U.S. jobs. More than 2,200 companies – 80 percent are small businesses and startups; others are among the world’s best known brands – enjoy the benefits of CTA membership including policy advocacy, market research, technical education, industry promotion, standards development and the fostering of business and strategic relationships. CTA also owns and produces CES® – the world’s gathering place for all who thrive on the business of consumer technologies. Profits from CES are reinvested into CTA’s industry services. Shanghai Intex Exhibition Co., Ltd was originally the exhibition organizing business of Intex Shanghai, a pioneering exhibition organizer established in 1995. Shanghai Intex is jointly overseen by the China Council for the Promotion of International Trade (CCPIT) Shanghai and PNO Exhibition Investment (Dubai) Limited. Starting in 1998, Shanghai Intex has organized over 100 trade shows and conferences with a sum total exhibition space in excess of 2 million sqm. Shanghai Intex is comprised of professional teams with a wealth of experience in organizing major international events, covering the creative industry, healthcare, lifestyle, advanced manufacturing and consumer electronics.


News Article | February 16, 2017
Site: www.prweb.com

Spring break cash awaits a lucky educator with California Casualty’s next $2,500 Academic Award. The deadline to enter is March 10, 2017, at http://www.calcasacademicaward.com. The $2,500 Academic Award was created in 2012 to give public K-12 teachers, who often spend $500 to $1,000 of their own funds each year, a financial break buying necessities for students and projects. This will be the 13th Academic Award given since the program began. Illinois special education teacher Sharon H. will be able to set up an interactive listening center with the award she received in January. Another recent winner, Eduardo N., was able to purchase important chemistry equipment for his California high school science classes. New Jersey’s Tony M. bought exercise and workout equipment for physical education classes at the middle school where he teaches. “Working with educators for over 65 years, we’ve heard over and over how much they spend preparing their classrooms and helping students,” said California Casualty Sr. Vice President Mike McCormick. “This award is one of the many ways we show support and give thanks for what they do.” California Casualty is ready to pick up the cost for classroom supplies and materials. The deadline for the next $2,500 Academic Award is Friday, March 10, with a winner announced in April. Visit http://www.calcasacademicaward.com to enter. Eligibility requires membership in the AEA, CTA, NEA (National Education Association), or referral by a current member of the state NEA affiliate or one of our other participating educator associations including: ACSA, CASE, COSA, KASA, NASA, UAESP or UASSP. Headquartered in San Mateo, California, with Service Centers in Arizona, Colorado and Kansas, California Casualty provides auto and home insurance to educators, firefighters, law enforcement and nurses across the country. Founded in 1914, California Casualty has been led by four generations of the Brown family. To learn more about California Casualty, or to request an auto insurance quote, please visit http://www.calcas.com or call 1.800.800.9410.


BARCELONA, SPAIN and CAMBRIDGE, MA--(Marketwired - February 24, 2017) - Oryzon Genomics ( : ORY) (ISIN Code: ES0167733015), a public clinical-stage biopharmaceutical company leveraging epigenetics to develop therapies in diseases with strong unmet medical need, today reported financial results for the fourth quarter of 2016 and provided an update on the Company's recent developments. The company successfully completed the Phase I/IIA clinical trial in acute leukemia of its epigenetic drug ORY-1001; data was presented at the ASH-2016 Conference in December in San Diego, providing a demonstration of biological proof of concept and allowing the characterization of the first clinical responses. These and other data contributed to the decision by our licensee Roche to start a new Phase I clinical trial in small cell lung cancer patients. Under the terms of the License Agreement, this clinical trial and all subsequent trials will be funded entirely by Roche. ORY-2001 has continued its satisfactory progression in the MAD phase of the Phase I clinical trial in healthy volunteers. ORY-2001 is the first ever Histone Demethylase inhibitor being explored in CNS disorders, with a particular emphasis in Alzheimer's disease and Multiple Sclerosis. This program should be Phase II ready in the first half of 2017. The company has continued its experimental work in preclinical models of Alzheimer's disease and other CNS indications and has done substantial advances in the characterization of the mechanism of action of ORY-2001 in the EAE Multiple Sclerosis model. This broadens the therapeutic indication's potential for the Clinical Development Plan of this drug. ORY-3001, the company's third LSD1 inhibitor, in preclinical development for the treatment of a non-oncological yet undisclosed orphan disease, continues its favorable progression through the regulatory tox. package. This program should be IND/CTA ready in the first half of 2017. Collaboration revenue was $0.03 million and $0.8 million for the last 3 and 12 months ended December 31, 2016, respectively, as compared to $0.9 million and $4.6 million for the last 3 and 12 months ended December 31, 2015 respectively. The period-over-period decreases reflect decreased recognition of deferred revenue from upfront payments and research and development revenue related to the Company's collaboration with Roche. Research and development (R&D) expenses were $1.7million and $5.5 million for the last 3 and 12 months ended December 31, 2016, respectively, as compared to $0.7 million and $4.1 million for the last 3 and 12 months ended December 31, 2015 respectively. The $1.0 million increase was driven primarily by accelerated R&D efforts in the ORY-2001 program. General and administrative expenses were $1.0 million and $5.0 million for the last 3 and 12 months ended December 31, 2016, respectively, as compared to $1.5 million and $4.6 million for the last 3 and 12 months ended December 31, 2015 respectively. This decrease is primarily due to the fact that during the fourth quarter of 2015 the company incurred in specific expenses related with the activities to list the company in the Spanish Stock market. Net loss was -$1.4 million and -$5.7 million for the last 3 and 12 months ended December 31, 2016 (-$0.20 and -$0.21 per share) respectively, compared to a net loss of -$0.7 million and -$1.1 million the last 3 and 12 months ended December 31, 2015 (-$0.03 and -$0.04 per share) respectively. Cash, cash equivalents and marketable securities were $28.7 million as of December 31, 2016, compared to $23.7 million as of December 31, 2015. Oryzon closed a tranche of Debt Funding round in 2016 of $16.6 million. Founded in 2000 in Barcelona, Spain, Oryzon (ISIN Code: ES0167733015) is a clinical stage biopharmaceutical company considered as the European champion in Epigenetics. The company has one of the strongest portfolios in the field and a clinical asset already partnered with Roche. Oryzon's LSD1 program is currently covered by + 20 patent families and has rendered two compounds in clinical trials. In addition, Oryzon has ongoing programs for developing inhibitors against other epigenetic targets. The company has a strong technological platform for biomarker identification and performs biomarker and target validation for a variety of malignant and neurodegenerative diseases. Oryzon's strategy is to develop first in class compounds against novel epigenetic targets through Phase II clinical trials, at which point it is decided on a case-by-case basis to either keep the development in-house or to partner or outlicense the compound for late stage development and commercialization. The company has offices in Barcelona and Cambridge, Massachusetts. For more information, visit www.oryzon.com. This communication contains forward-looking information and statements about Oryzon Genomics, S.A., including financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Forward-looking statements are statements that are not historical facts and are generally identified by the words "expects", "anticipates", "believes", "intends", "estimates" and similar expressions. Although Oryzon Genomics, S.A. believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Oryzon Genomics, S.A. shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Oryzon Genomics, S.A., that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the documents sent by Oryzon Genomics, S.A. to the Comisión Nacional del Mercado de Valores, which are accessible to the public. Forward-looking statements are not guarantees of future performance. The auditors of Oryzon Genomics, S.A, have not reviewed them. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. All subsequent oral or written forward-looking statements attributable to Oryzon Genomics, S.A. or any of its members, directors, officers, employees or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. All forward-looking statements included herein are based on information available to Oryzon Genomics, S.A. on the date hereof. Except as required by applicable law, Oryzon Genomics, S.A. does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This press release is not an offer of securities for sale in the United States. The Company's securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of the Company's securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company or the selling security holder, as applicable, that will contain detailed information about the Company and management, as well as financial statements.


News Article | February 17, 2017
Site: www.businesswire.com

ARLINGTON, Va.--(BUSINESS WIRE)--The Consumer Technology Association (CTA) TM heeft bekendgemaakt dat CES Asia TM 2017 opnieuw records gaat verbreken. Met nog vier maanden te gaan tot de derde editie is al 10.500 vierkante meter aan exporuimte verkocht. Dat is tien procent meer dan vorig jaar rond deze tijd. CES Asia 2017, dat wordt geproduceerd door eigenaar Consumer Technology Association (CTA)™ en co-producent Shanghai Intex Exhibition Co., Ltd, vindt van 7 tot 9 juni 2017 plaats in Shanghai in het Shanghai New International Expo Centre (SNIEC). Deze bekendmaking is officieel geldend in de originele brontaal. Vertalingen zijn slechts als leeshulp bedoeld en moeten worden vergeleken met de tekst in de brontaal, die als enige rechtsgeldig is.


News Article | February 15, 2017
Site: www.businesswire.com

SAN FRANCISCO--(BUSINESS WIRE)--SmartBeings, Inc., developers of WooHoo, the world’s first AI-based interactive and affordable smart home hub designed to simplify smart living, have been named an "Innovation Award Honoree for Outstanding Design & Engineering in Consumer Products” by It Is Innovation (i3), the official publication of the “Consumer Technology Association (CTA)™”. Focusing on a digital solution covering IoT, personalization, communication, smart-home automation, online shopping, information, and daily tasks along with connectivity - the foundation for the Personalized Connected Lifestyle. SmartBeings is defining and moving forward in becoming the market leader for the “Personalized Connected Lifestyle” segment. While exhibiting at the Consumer Electronics Show (CES) in Las Vegas last month, SmartBeings received 5.8 million social media impressions, emerging as one of the top IoT products to watch for in 2017. What are experts saying? Engadget – “SmartBeings’ gadget is basically an Echo on steroids” CNET – “WooHoo rolls every smart home product ever into one AI helper Digital Trends - “It’s a friend by day and a guardian at night for both home-based customers and businesses.” Dealerscope - “…incredibly customizable and multi-functional.” “With the Smart Home market being saturated by products that all do the same thing –answer questions, play music and interact with additional smart devices – consumers are overwhelmed and quite frankly dissatisfied,” said Joseph Santos, SmartBeings’ Chief Digital and Marketing Officer. “The key thing that has been missing is not just the ability to link every smart device together through a single interface, but the ability to easily customize and tailor those devices to work symbiotically with each consumer’s unique lifestyle. That’s what separates WooHoo from the rest of the market, and why we saw success at CES.” WooHoo’s integrated WiFi, BLE, Zigbee, Zwave, and 4G LTE options give the device the ability to integrate and pair with a plethora of current and future smart devices. Additionally, the cloud-based online platform enables users to manage, control and track devices, as well as view in-depth analytics that truly support a “personalized connected lifestyle.” “To help further strengthen ourselves in the market, we are currently discussing with several potential investors to bring significant value add-on’s for IoT startups like ours,” said Keith Williams, SmartBeings’ Global Vice President of Business Development and Strategic Partnerships. To arrange for interviews and/or private demonstrations of SmartBeings’ WooHoo product, please contact Michael Wertheim at mwertheim@aboutsage.com or 240-461-7276 or Kerry Lynn Bohen at kbohen@aboutbwf.com or 703-533-4823.

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