News Article | February 28, 2017
Spezzare lo stampo dei blade proprietari e di costo elevato offrendo un costo di acquisto migliore e maggiore densità, prestazioni ed efficienza energetica rispetto alle soluzioni rack e ai server OCP SAN JOSE, California, 28 febbraio 2017 /PRNewswire/ -- Super Micro Computer, Inc. (NASDAQ: SMCI), azienda leader globale nelle tecnologie di calcolo, storage, connettività di rete, comprese quelle ecologico per il calcolo ha annunciato la presentazione del nuovo server SuperBlade® server che offre una struttura di costo iniziale per l'acquisto migliore rispetto a quella dei blade tradizionali, delle soluzioni con montaggio su rack e di quelle OCP con le densità e l'efficienza operativa dei blade in un'architettura aperta abilitata per Rack Scale Design. Il nuovo SuperBlade® 8U supporta sia la generazione attuale che quelle nuove di server blade basati su processore Intel® Xeon® con gli switch 100G EDR InfiniBand e Omni-Path più veloci per aziende di grande importanza oltre che per applicazioni per centri dati. Sfrutta inoltre gli stessi switch Ethernet, i moduli di gestione del telaio e il software del MicroBlade® di successo per avere una maggiore affidabilità, capacità di manutenzione e costi contenuti. Porta al massimo le prestazioni e l'efficienza energetica con processori DP e MP fino a 205 watt in blade a mezza altezza e a tutta altezza, rispettivamente. Il nuovo fattore di forma più piccolo SuperBlade 4U ottimizza la densità e l'efficienza energetica abilitando fino a 140 server con processore doppio o 280 server con processore singolo per rack 42U. "Il nostro nuovo SuperBlade ottimizza non soltanto il costo totale di proprietà, ma anche il costo iniziale di acquisto con densità del server leader di settore e prestazioni massime per watt, per piede quadrato e per dollaro," ha dichiarato Charles Liang, Presidente e Amministratore Delegato di Supermicro. "Il nostro SuperBlade 8U è anche il primo e unico sistema blade che supporta CPU Xeon fino a 205 W, drive NVMe e switch 100G EDR IB o Omni-Path garantendo che questa architettura è ottimizzata per il presente e per il futuro per i progressi tecnologici del futuro, compresi i processori di prossima generazione Intel Skylake." Intel e Xeon sono marchi o marchi registrati della Intel Corporation negli Stati Uniti e in altre nazioni.
News Article | March 2, 2017
CAMBRIDGE, Mass., March 02, 2017 (GLOBE NEWSWIRE) -- BeiGene, Ltd. (NASDAQ:BGNE), a clinical-stage biopharmaceutical company developing innovative molecularly-targeted and immuno-oncology drugs for the treatment of cancer, today announced that it will present data from the Phase IB dose expansion study of RAF dimer inhibitor BGB-283 in patients with B-RAF or K-RAS/N-RAS mutated solid tumors in an oral presentation during a Clinical Trials Plenary Session at the 2017 American Association for Cancer Research (AACR) Annual Meeting. In addition, the company expects a decision in the first quarter of 2017 from its partner Merck KGaA on its continuation option to develop and commercialize BGB-283 outside China after Merck’s review of Phase I data. At AACR, BeiGene will also present three posters related to its pipeline agents, BGB-A317 (PD-1 antibody), BGB-3111 (BTK inhibitor), and BGB-A425 (Tim-3 antibody). The AACR Annual Meeting will take place April 1-5 in Washington, DC. Details for the oral presentation and posters are provided below. Further details can be found on the AACR website. Title: A Phase IB study of RAF dimer inhibitor BGB-283 in patients with B-RAF or K-RAS/N-RAS mutated solid tumors Abstract #2010: Hu N. et al., BTK inhibitor BGB-3111 demonstrates anti-tumor activity in solid tumor models. Mon., Apr. 3, 8:00 AM -12:00 PM Abstract #5626: Luo L. et al., Investigation of T cell activation by anti-human PD-1 antibodies Nivolumab, Pembrolizumab and BGB-A317 using tumor-infiltrating lymphocytes (TILs) from colorectal cancer and colorectal liver metastasis patients. Wed., Apr. 5, 8:00 AM – 12:00 PM Discovered by BeiGene scientists, BGB-283 is a novel RAF inhibitor with unique RAF dimer and EGFR inhibition activities. BGB-283 has shown antitumor activities in preclinical models and in cancer patients not only in tumors with BRAF V600E mutation but also those with non-V600E BRAF mutations and KRAS/NRAS mutations. BGB-283 was partnered with Merck KGaA in 2013 prior to the initiation of its clinical development. Pursuant to the license agreements for territories in and outside China respectively, BeiGene has exclusive development and commercial rights to BGB-283 in China, and Merck KGaA has an exclusive license to develop and manufacture BGB-283, and, subject to the exercise of a continuation option based on review of Phase I data, to commercialize and manufacture BGB-283 in markets outside of China. BeiGene retained the responsibility to perform pre-specified Phase 1 clinical trials and if Merck KGaA exercises its continuation option, it will pay BeiGene a continuation fee based on the costs of conducting the relevant trials, subject to a certain cap. If Merck KGaA does not exercise its continuation option, the ex-China agreement will terminate in its entirety except for certain provisions that will survive the termination. BeiGene is a global, clinical-stage, research-based biotechnology company focused on molecularly targeted and immuno-oncology cancer therapeutics. With a team of over 300 scientists, clinicians and staff in mainland China, the United States, Australia and Taiwan, BeiGene is advancing a pipeline consisting of novel oral small molecules and monoclonal antibodies for cancer. BeiGene is working to create combination solutions aimed to have both a meaningful and lasting impact on cancer patients. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including statements regarding the timing of Merck KGaA’s decision to exercise its continuation option to develop and commercialize BGB-283 outside China after Merck’s review of Phase I data. Actual results may differ materially from those indicated in the forward-looking statements as a result of various important factors, including BeiGene's ability to demonstrate the efficacy and safety of its drug candidates; the clinical results for its drug candidates, which may not support further development; actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials; BeiGene's ability to achieve market acceptance in the medical community necessary for commercial success; BeiGene's ability to obtain and maintain protection of intellectual property for its technology and drugs; BeiGene's reliance on third parties to conduct preclinical studies and clinical trials; BeiGene’s limited operating history and BeiGene's ability to obtain additional funding for operations and to complete the development and commercialization of its drug candidates, as well as those risks more fully discussed in the section entitled “Risk Factors” in BeiGene’s most recent quarterly report on Form 10-Q, as well as discussions of potential risks, uncertainties, and other important factors in BeiGene's subsequent filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this press release, and BeiGene undertakes no duty to update such information unless required by law.
News Article | February 28, 2017
Il brise le moule des conceptions de lames propriétaires au coût élevé, offre un meilleur coût d'acquisition ainsi qu'une densité, des performances et une efficacité énergétique plus élevées que des serveurs montés en rack et OCP SAN JOSÉ, Californie, le 28 février 2017 /PRNewswire/ -- Super Micro Computer, Inc. (NASDAQ : SMCI), un chef de file mondial dans les technologies de calcul, de stockage et de réseau, et notamment d'informatique verte, a annoncé son nouveau serveur SuperBlade® qui offre une meilleure structure de coût d'acquisition initial que les conceptions en lames, montées sur rack et OCP traditionnelles, avec la densité et l'efficacité opérationnelle des lames dans une architecture ouverte compatible avec Rack Scale Design. Le nouveau SuperBlade® 8U prend en charge les générations actuelles et nouvelles des serveurs lames basés sur les processeurs Intel® Xeon® avec les commutateurs EDR InfiniBand et Omni-Path 100G les plus rapides pour les applications essentielles à la mission de l'entreprise et celles des centres de données. Il exploite également les mêmes commutateurs Ethernet, modules de gestion des châssis et logiciels que le remarquable MicroBlade®, pour une fiabilité, une facilité de maintenance et une accessibilité améliorées. Il maximise les performances et l'efficacité énergétique avec les processeurs DP et MP jusqu'à 205 watts dans des lames demi-hauteur et pleine hauteur, respectivement. Le nouveau SuperBlade 4U au facteur de forme plus petit maximise la densité et l'efficacité énergétique tout en autorisant jusqu'à 140 serveurs biprocesseurs ou 280 serveurs monoprocesseurs par rack 42U. La conception de l'infrastructure partagée du nouveau SuperBlade permet une efficacité énergétique maximale en réduisant la consommation jusqu'à 20 pour cent, la densité à la pointe de l'industrie de 7 systèmes de racks 1U et réduit le câblage de 96 pour cent. Le SuperBlade exploite la gestion basée sur Redfish et le Rack Scale Design de Supermicro pour permettre la gestion des systèmes ouverts à grande échelle. « Notre nouveau SuperBlade optimise non seulement le TCO, mais également le coût d'acquisition initial avec la meilleure densité de serveurs de l'industrie et un rendement maximal par watt, par pied carré et par dollar », a déclaré Charles Liang, président et PDG de Supermicro. « Notre SuperBlade 8U est également le premier et unique système qui prend en charge des CPU Xeon jusqu'à 205 W, des disques NVMe et des commutateurs EDR IB 100G ou Omni-Path, garantissant que cette architecture est optimisée pour aujourd'hui et viable pour la prochaine génération d'avancées technologiques, y compris les processeurs Intel Skylake de prochaine génération. » Pour obtenir plus d'informations sur la gamme complète des solutions à hautes performances et à haut rendement pour les serveurs, le stockage et le réseau de Supermicro, visitez le site www.supermicro.com. Suivez Supermicro sur Facebook et Twitter pour obtenir les dernières nouvelles et annonces. Supermicro® (NASDAQ : SMCI), l'innovateur majeur de technologies à hautes performances et à haut rendement pour les serveurs, est le principal fournisseur du serveur évolué Building Block Solutions® pour les centres de données, l'informatique dans le nuage, l'informatique d'entreprise, l'Hadoop/Big Data, l'HPC et les systèmes embarqués du monde entier. Supermicro agit pour protéger l'environnement dans le cadre de son programme « We Keep IT Green® » et propose les solutions les plus efficaces d'un point de vue énergétique et les plus écologiques du marché. Supermicro, SuperBlade, MicroBlade, Building Block Solutions et We Keep IT Green sont des marques commerciales et/ou des marques commerciales déposées appartenant à Super Micro Computer, Inc. Intel et Xeon sont des marques de commerce ou des marques déposées d'Intel Corporation aux États-Unis et dans d'autres pays. Les autres marques, noms et marques commerciales appartiennent tous à leurs propriétaires respectifs.
News Article | February 24, 2017
Company Posts Fiscal Q2 Sales and Revenue Gains; Wins Expanded Lockheed Martin Contract; Steadily Progressing Toward Goal of Achieving Cash-Flow Positive Operations FRANKLIN, INDIANA--(Marketwired - Feb. 24, 2017) - IBC Advanced Alloys Corp. ("IBC" or the "Company") (TSX VENTURE:IB)(OTCQB:IAALF) announces its financial results for fiscal second quarter of 2017. The Company reported higher sales and revenue, an improved gross margin, and a significant narrowing of its operating loss in the quarter ended December 31, 2016, all as compared to the prior-year period. In a separate announcement (see this), the Company released the details of a $2.6 million production contract from Lockheed Martin. The contract represents a 16% increase over IBC's previous contract with Lockheed Martin in the number of Beralcast® beryllium-aluminum alloy components IBC will make for use in the F-35 Joint Strike Fighter aircraft. The Company's fiscal second quarter 2017 financial statements and management's discussion and analysis are available for review at www.sedar.com. Below are some highlights of the results. "I was pleased to see higher sales and revenue numbers in the quarter as we continue to steadily progress toward our goal of achieving cash-flow positive operations in 2017," said Major General Duncan Heinz (USMC, Ret.), IBC's President and Chief Executive Officer. "Trends across both business segments are increasingly positive. Demand continues to grow for our innovative Beralcast® products made by our Engineered Materials division, as evidenced by the double-digit increase in parts called for in the new Lockheed Martin contract, as well as in the sharply higher orders we are receiving from the semiconductor manufacturing industry. In our Copper Alloys division, our plastic mold tooling business is showing consistent growth, and we are pleased to see an uptick in orders from the oil and gas industry." The General added: "We also are pleased to be approaching the final stages of completing our capital improvements program, which is designed to help us improve yields, boost capacities, lower costs, and open up new sales opportunities." For more information on IBC and its innovative alloy products, go here. On Behalf of the Board of Directors: IBC is a leading beryllium and copper advanced alloys company serving a variety of industries such as defense, aerospace, automotive, telecommunications, precision manufacturing, and others. IBC's Copper Division manufactures and distributes a variety of copper alloys as castings and forgings, including beryllium copper, chrome copper, and aluminum bronze. IBC's Engineered Materials Division makes the Beralcast® family of alloys, which can be precision cast and are used in an increasing number of defense, aerospace, and other systems, including the F-35 Joint Strike Fighter. IBC's has production facilities in Indiana, Massachusetts, Pennsylvania, and Missouri. The Company's common shares are traded on the TSX Venture Exchange under the symbol "IB" and the OTCQB under the symbol "IAALF". This news release was prepared by management of IBC, which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control including: the impact of general economic conditions in the areas in which the Company or its customers operate, including the semiconductor manufacturing and oil and gas industries, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, limited availability of raw materials, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing activities therefore the Company's future results, performance or achievements could differ materially from those expressed in these forward-looking statements. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
News Article | March 2, 2017
Gemäß der konsequenten und langjährigen Umsetzung dieser Strategie in vorherigen Fonds beabsichtigt Sofinnova Partners, mit Sofinnova IB I als Gründungs- und Leadinvestor in Start-ups und Corporate Spin-offs in Europa und Nordamerika zu investieren. Das Unternehmen will sich dabei auf die Unterstützung visionärer Unternehmen konzentrieren, die mit Innovationen einen Paradigmenwechsel vom Labor bis hin zum Endanwendermarkt anstreben. Sofinnova IB I ist als Investition in 8 bis 10 Unternehmen während der nächsten 3 bis 4 Jahre vorgesehen. Betreut wird dieser Fond von einem erfahrenen und engagierten Team, dem zunächst Denis Lucquin, Managing Partner, Joško Bobanović, Partner, und Michael Krel, Principal, angehören. Denis Lucquin, Managing Partner von Sofinnova Partners, sagte: „Wir freuen uns sehr über den Erfolg dieses ersten Abschlusses. Unsere seit 2009 gesammelten Erfahrungen fanden großen Anklang bei den Investoren. Mit Investitionen in diesem Sektor, z. B. in Avantium, die eine vollständig biologische Kunststoffflasche entwickelt haben und jetzt eine Börseneinführung an der Euronext planen, bis hin zum neusten DNA Script, das die DNA-Synthese revolutioniert, hat sich Sofinnova Partners einen Ruf als Pionierinvestor erworben, der auf einem umfassenden Verständnis der Dynamik in diesem aufstrebenden Markt beruht. Mit der Einrichtung dieses sehr speziellen Fonds haben wir heute einen weiteren wichtigen Schritt in unserer Entwicklung auf dem industriellen Biotechnikmarkt getan.“ Über Sofinnova Partners Sofinnova Partners ist eine der führenden europäischen Kapitalbeteiligungsgesellschaften mit Spezialisierung auf Life Sciences. Die Gesellschaft hat ihren Sitz in Paris, Frankreich und vereint 12 erfahrene Investmentexperten aus ganz Europa, den USA und China. Das Unternehmen konzentriert sich auf Paradigmenwechsel-Technologien an der Seite von visionären Unternehmern. Sofinnova Partners sucht nach Start-ups und Corporate Spin-offs, in die es als Gründungs- und Leadinvestor investieren kann. In den letzten 40 Jahren hat das Unternehmen in rund 500 Unternehmen investiert und so Marktführer auf der ganzen Welt geschaffen. Heute hat Sofinnova Partners ein verwaltetes Vermögen von über 1,6 Mrd. Euro. Weitere Informationen finden Sie unter: www.sofinnova.fr
News Article | February 21, 2017
ANN ARBOR, Mich.--(BUSINESS WIRE)--ACSI Funds, a data-driven asset manager, has opened up its flagship ETF, the American Customer Satisfaction Core Alpha ETF (Bats: ACSI), for commission-free trading through Interactive Brokers. ACSI Funds’ partnership with Interactive Brokers, which makes the ETF accessible to clients of Interactive Brokers without trade commissions, is reflective of its mission to provide low-cost, quality investment solutions to retail investors. The ETF weights companies based on their customer satisfaction score, which the firm believes to be a leading indicator of future revenue growth and earnings performance. “ACSI Funds leverages proprietary data that quantifies customer satisfaction to deliver investment products to our clients,” Phil Bak, CEO of ACSI Funds, says. “The American Customer Satisfaction Core Alpha ETF is designed to deliver our strategy to investors as efficiently as possible. By offering the ETF commission-free on Interactive Brokers, investors can not only leverage the technological breakthroughs and cost efficiencies of the ETF vehicle, but can also utilize Interactive Brokers’ intuitive interface and advanced technology without having to pay any trade commissions to access the ACSI ETF.” ACSI Funds launched ACSI, its inaugural exchange-traded fund, in November 2016 and joins five other ETF providers currently available commission-free at Interactive Brokers. ACSI Funds and Interactive Brokers will host a webinar this Thursday, Feb. 23 at noon EST to further discuss ACSI Funds’ differentiated investment strategy. Please visit ACSIFunds.com for more information. ACSI Funds is a boutique asset manager that creates investment products based upon proprietary customer satisfaction data from the nationally recognized American Customer Satisfaction Index (ACSI). The ACSI was created in 1994 by Dr. Claes Fornell, University of Michigan Professor Emeritus, and measures over 350 brands, engaging over 100,000 household customers each year to identify trends in customer satisfaction and provide benchmarking insights for companies, industry trade associates, and government agencies. ACSI Funds was named ETF Innovation of the Year at the 2017 Fund Action ETF Innovation Awards. The firm and the American Customer Satisfaction Core Alpha ETF were also nominated for the 2017 ETF.com Awards as the most innovative new ETF and the new ETF issuer of the year. Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 120 markets in numerous countries and currencies from a single IB Universal Account℠ to customers worldwide. They service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Their four decades of focus on technology and automation have enabled them to equip their customers with a uniquely sophisticated platform to manage their investment portfolios at extremely low cost relative to the financial services industry. They strive to provide their customers with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at the lowest possible prices. An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus or summary prospectus contain this and other important information about the Fund and are available at acsietf.com or by calling 734.882.2401. Please read the prospectus or summary prospectus carefully before investing. The securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion. The Index relies heavily on proprietary quantitative models as well as information and data supplied by third parties (Models and Data). Because the Index is composed based on such Models and Data, when such Models and Data prove to be incorrect or incomplete, the Index and Fund may not perform as expected. As with all index funds, the performance of the Fund and its Index may differ from each other for a variety of reasons. For example, the Fund incurs operating expenses and portfolio transaction costs not incurred by the Index. In addition, the Fund may not be fully invested in the securities of the Index mat all times or may hold securities not included in the Index. Investments involve risk. Principal loss is possible. The Fund has the same risks as the underlying securities traded on the exchange through the day. Redemptions are limited and commissions are charged on each trade, and ETFs may trade at a premium or discount to their net asset value. Shares of the American Customer Satisfaction Index ETF may be sold throughout the day on the exchange through any brokerage account. However, shares may only be redeemed directly from the Fund by Authorized Participants, in very large creation/redemption units. There can be no assurance that an active trading market for shares of an ETF will develop or be maintained. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index used as a benchmark. The American Customer Satisfaction Investable Index uses an objective, rules-based methodology to measure the performance of large capitalization U.S.-listed companies whose customers have been surveyed and who have been assigned a customer satisfaction score by ACSI, LLC. The Index utilizes sector constraints to reflect the overall U.S. large cap market, and weights securities based on the Customer Satisfaction Data. It is not possible to invest directly in an index. The American Customer Satisfaction Core Alpha ETF is distributed by Quasar Distributors, LLC. ACSI Funds, a registered investment adviser, serves as investment adviser to the American Customer Satisfaction Core Alpha ETF and is paid a fee for its services.
News Article | March 2, 2017
PARIS--(BUSINESS WIRE)--Sofinnova Partners, a leading European venture capital firm specialized in life sciences, today announced the first closing of Sofinnova Industrial Biotech I (Sofinnova IB I) at €106 million. The fund, dedicated to renewable chemistry, follows a series of 9 investments in the sector since 2009, and places Sofinnova Partners at the forefront of this promising emerging market. Sofinnova IB I will be invested in start-ups along the value chain from the transformation of renewable raw materials, like agricultural waste or C0 , to renewable end-products such as bio-plastics and other bio-sourced materials. It will equally look at technologies coming from advances in synthetic biology and alike. The investment thesis is based on growing market demand for innovative, renewable products leveraging non-fossil raw materials and novel technologies to produce better performing or cheaper, sustainable alternatives. Pursuing the strategy applied consistently over the years with previous funds, Sofinnova Partners will seek to invest Sofinnova IB I as a founding and lead investor in start-ups and corporate spin-offs, in Europe and North America. The focus of the fund will consist in backing visionary entrepreneurs aiming at developing paradigm changing innovations from lab to the end users market. Sofinnova IB I will seek to invest in 8 to 10 companies during the next 3 to 4 years. It will leverage an experienced and dedicated team, initially composed of Denis Lucquin, Managing Partner, Joško Bobanović, Partner, and Michael Krel, Principal. For this substantial first closing, Sofinnova IB I attracted premier investors, predominantly European institutions and major international industrial players, from energy, chemical and agricultural sectors, including several returning investors from the seed fund raised in 2012 in the same sector: Sofinnova Green Seed Fund. Denis Lucquin, Managing Partner at Sofinnova Partners, said, “We are very pleased with the success of this first closing. The experience accumulated since 2009 resonated well with the investors. With investments in the sector ranging from Avantium, developing an entirely bio-based plastic bottle and now planning an IPO on Euronext, to the most recent DNA Script, revolutionizing DNA synthesis, Sofinnova Partners stands as a pioneer investor, benefitting from an acute understanding of the dynamics at work in this emerging sector. With establishment of this entirely dedicated fund, we have reached today a further important step in our development in industrial biotech.” About Sofinnova Partners Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, the firm brings together 12 highly experienced investment professionals from all over Europe, the US and China. The firm focuses on paradigm shifting technologies alongside visionary entrepreneurs. Sofinnova Partners seeks to invest as a founding and lead investor in start-ups and corporate spin-offs, and has backed nearly 500 companies over more than 40 years, creating market leaders around the globe. Today, Sofinnova Partners has over €1.6 billion under management. For more information, please visit: www.sofinnova.fr
News Article | February 23, 2017
KUALA LUMPUR, Malaysia, Feb. 23, 2017 /PRNewswire/ -- Mont'Kiara International School (M'KIS) officially announces its first school-wide open day to be held on March 24th, 2017. Located in the predominantly expatriate suburb of Mont'Kiara, the open day is being held during school hours, from 8:30 am to 12:30 pm. This whole school open day will allow potential and current families to see M'KIS in action. A customized registration platform has been created for parents to register their attendance for the event. M'KIS' Director of Marketing and Communications, Mr. Darren Brews, mentioned, "As a community-based school, we believe it is important to open our doors to our neighbors. We are proud and very excited about this opportunity to showcase our wonderful school, our amazing students and, our talented faculty. This open day is a celebration of our dedication to excellence, diversity, and community." M'KIS is licensed by the Ministry of Education (MOE), Malaysia, and certified by the Malaysian Certification Agency (MQA). M'KIS is accredited by the Western Association of Schools and Colleges (WASC) and has been an authorized IB World School since 2000. M'KIS has been consistently rated a five-star school since 2009 by the Ministry of Education, Malaysia. Delivering a North American Curriculum, M'KIS offers both IB and non-IB pathways. Building upon its longstanding history of excellence with the IB Diploma Programme, M'KIS is officially a candidate school* for the International Baccalaureate (IB) Primary Years Programme (PYP) and Middle Years Programme (MYP). IB World Schools share a common philosophy -- a commitment to improve the teaching and learning of a diverse and inclusive community of students by delivering challenging, high quality programmes of international education that share a powerful vision.** *Only schools authorized by the International Baccalaureate can offer any of its four academic programmes: the Primary Years Programme (PYP), the Middle Years Programme (MYP), the Diploma Programme or the IB Career-related Certificate (IBCC). Candidate status gives no guarantee that authorization will be granted. For further information about the IB and its programmes, visit www.ibo.org The International Baccalaureate aims to develop inquiring, knowledgeable and caring young people who help to create a better and more peaceful world through intercultural understanding and respect. To this end the organization works with schools, governments and international organizations to develop challenging programmes of international education and rigorous assessment. These programmes encourage students across the world to become active, compassionate and lifelong learners who understand that other people, with their differences, can also be right.
News Article | March 1, 2017
EL SEGUNDO, Calif., March 01, 2017 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD) today reported results for the fourth quarter and year ended December 31, 2016. Fourth Quarter of Fiscal 2016 compared to Fourth Quarter of Fiscal 2015 _______ * The Company provides Non-GAAP measures as a supplement to financial results based on accounting principles generally accepted in the United States (“GAAP”). A reconciliation of the Non-GAAP measures to the most directly comparable GAAP measures is included at the end of the release. “Delivery on our program commitments in 2016 led to the accomplishment of several major program milestones and key wins of technology development contracts,” said Eileen Drake, CEO and President of Aerojet Rocketdyne Holdings, Inc. “Our improvement initiatives continued to gain momentum throughout the year, evidence of their effectiveness can be seen in our solid operating results. A strong finish in the fourth quarter generated annual sales growth coupled with solid margins and strong free cash flow providing me with confidence that the strategy that we have adopted provides a framework for growth and long-term stakeholder value creation.” _______ (1) Retirement benefit expense is net of cash funding to the Company’s tax-qualified defined benefit pension plan which are recoverable costs under the Company’s U.S. government contracts. The Company funded $(0.6) million and $27.5 million to its tax-qualified defined benefit pension plan that was recoverable in the Company’s fiscal 2016 U.S. government contracts for the three and twelve months ended December 31, 2016, respectively. The increase in net sales during the fourth quarter of fiscal 2016 compared to the fourth quarter of fiscal 2015 was primarily due to an increase of $38.8 million on space launch programs primarily driven by increased deliveries on the RL10 program, and the transition of the Commercial Crew Development program from development activities to initial production. Further, as a result of the 2016 calendar, Aerojet Rocketdyne had 53 weeks of operations in fiscal 2016 compared to 52 weeks of operations in fiscal 2015. The additional week of operations, which occurred in the fourth quarter of fiscal 2016 totaling to $32.2 million in additional net sales, is included in the above discussion of program changes. The increase in net sales in fiscal 2016 compared to fiscal 2015 was primarily due to the following (i) an increase of $95.0 million on space launch programs primarily driven by increased deliveries on the RL10 program, and the transition of the Commercial Crew Development program from development activities to initial production and (ii) an increase of $37.2 million on air defense programs primarily driven by the transition of the PAC-3 contracts to full-rate production. These factors were partially offset by a decrease of $36.8 million in the various Standard Missile contracts primarily from the timing of deliveries on the Standard Missile-3 Block IB contract and Standard Missile MK72 booster contract. Further, as a result of the 2016 calendar, Aerojet Rocketdyne had 53 weeks of operations in fiscal 2016 compared to 52 weeks of operations in fiscal 2015. The additional week of operations, which occurred in the fourth quarter of fiscal 2016 totaling to $32.2 million in additional net sales, is included in the above discussion of program changes. The increase in the segment margin before environmental remediation provision adjustments, retirement benefit expense, Rocketdyne purchase accounting adjustments, and unusual items in the fourth quarter of fiscal 2016 compared to the fourth quarter of fiscal 2015 was primarily due to (i) favorable contract performance on tactical defense programs as a result of increased deliveries and the fourth quarter of fiscal 2015 results included program loss reserves associated with program risks; (ii) improved Terminal High Altitude Area Defense (“THAAD”) program performance as a result of efficiencies and the retirement of contract manufacturing risks; (iii) favorable contract performance on the Atlas V program as a result of manufacturing efficiencies on increased sales volume; and (iv) unfavorable overhead rate reserve adjustments in the fourth quarter of fiscal 2015. Segment margin before environmental remediation provision adjustments, retirement benefit expense, Rocketdyne purchase accounting adjustments, and unusual items in fiscal 2016 compared to fiscal 2015 was relatively unchanged. Items that had a significant impact include the following: (i) favorable contract performance in fiscal 2016 on the THAAD program as a result of operating performance and lower overhead costs; (ii) a gross contract benefit in fiscal 2015 associated with the Antares AJ-26 Settlement Agreement; and (iii) cost growth and manufacturing inefficiencies in fiscal 2016 on electric propulsion contracts. The following table summarizes the Company’s backlog: Total backlog includes both funded backlog (unfilled orders for which funding is authorized, appropriated and contractually obligated by the customer) and unfunded backlog (firm orders for which funding has not been appropriated). Indefinite delivery and quantity contracts and unexercised options are not reported in total backlog. Backlog is subject to funding delays or program restructurings/cancellations which are beyond the Company’s control. During the second quarter of fiscal 2015, the Company recognized net sales of $42.0 million associated with a land sale of approximately 550 acres which resulted in a pre-tax gain of $30.6 million. Included in the income (loss) from continuing operations before income taxes for the periods presented was as follows: _______ (1) Retirement benefit expense is net of cash funding to the Company’s tax-qualified defined benefit pension plan which are recoverable costs under the Company’s U.S. government contracts. The Company funded $(0.6) million and $27.5 million to its tax-qualified defined benefit pension plan that was recoverable in the Company’s fiscal 2016 U.S. government contracts for the three and twelve months ended December 31, 2016, respectively. The Company’s debt principal activity during fiscal 2016 was as follows: As of December 31, 2016, the Company had $304.7 million of available borrowings under its Senior Credit Facility. In December 2016, the Company notified holders of its 4 1/ % Debentures that the Company would redeem, on February 3, 2017, all of their 4 1/ % Debentures at a purchase price equal to 100% of the principal amount of the 4 1/ % Debentures to be redeemed, plus any accrued and unpaid interest. In January 2017, $35.6 million of the 4 1/ % Debentures (the entire amount outstanding as of December 31, 2016) were converted to 3.9 million shares of common stock. The Company’s tax-qualified pension plans’ assets were as follows: As of December 31, 2016, the Company’s unfunded pension obligation for the tax-qualified pension plan was $548.2 million. The changes in the pension obligation for the tax-qualified pension plan since December 31, 2015 were as follows (in millions): _______ (1) The Company’s effective rate of return on plan assets was 10.8% during fiscal 2016. (2) The decrease in the discount rate was due to lower market interest rates used to determine the Company’s pension obligation. The discount rate was 4.02% as of December 31, 2016 compared to 4.36% as of December 31, 2015. The Company expects to make cash contributions of approximately $72 million to its tax-qualified defined benefit pension plan in fiscal 2017 of which $37.0 million is expected to be recoverable in the Company’s U.S. government contracts in fiscal 2017 with the remaining $35.0 million being potentially recoverable in the Company’s U.S. government contracts in the future. During fiscal 2016, the Company made cash contributions of $32.8 million to its tax-qualified defined benefit pension plan of which $27.5 million was recoverable in the Company’s U.S. government contracts in fiscal 2016 with the remaining $5.3 million being potentially recoverable in the Company’s U.S. government contracts in the future. On January 20, 2016, the Company’s board of directors approved a change in the Company’s fiscal year-end from November 30 of each year to December 31 of each year. The fiscal year of the Company’s subsidiary, Aerojet Rocketdyne, ends on the last Saturday in December. The audited results for the month ended December 31, 2015 will be included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016. This release may contain certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such statements in this release and in subsequent discussions with the Company’s management are based on management’s current expectations and are subject to risks, uncertainty and changes in circumstances, which cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. All statements contained herein and in subsequent discussions with the Company’s management that are not clearly historical in nature are forward-looking and the words “anticipate,” “believe,” “expect,” “estimate,” “plan,” and similar expressions are generally intended to identify forward-looking statements. A variety of factors could cause actual results or outcomes to differ materially from those expected and expressed in the Company’s forward-looking statements. Some important risk factors that could cause actual results or outcomes to differ from those expressed in the forward-looking statements include, but are not limited to, the following: Aerojet Rocketdyne Holdings, Inc., headquartered in El Segundo, California, is an innovative technology-based manufacturer of aerospace and defense products and systems, with a real estate segment that includes activities related to the entitlement, sale, and leasing of the company’s excess real estate assets. More information can be obtained by visiting the company’s website at www.aerojetrocketdyne.com. _______ (1) Retirement benefit expense is net of cash funding to the Company’s tax-qualified defined benefit pension plan which are recoverable costs under the Company’s U.S. government contracts. The Company funded $(0.6) million and $27.5 million to its tax-qualified defined benefit pension plan that was recoverable in the Company’s fiscal 2016 U.S. government contracts for the three and twelve months ended December 31, 2016, respectively. The Company evaluates its operating segments based on several factors, of which the primary financial measure is segment performance. Segment performance represents net sales from continuing operations less applicable costs, expenses and unusual items relating to the segment operations. Segment performance excludes corporate income and expenses, unusual items not related to the segment operations, interest expense, interest income, and income taxes. The Company believes that segment performance provides information useful to investors in understanding its underlying operational performance. Specifically, the Company believes the exclusion of the items listed above permits an evaluation and a comparison of results for ongoing business operations. It is on this basis that management internally assesses the financial performance of its segments. Use of Unaudited Non-GAAP Financial Measures In addition to segment performance (discussed above), the Company provides the Non-GAAP financial measure of its operational performance called Adjusted EBITDAP. The Company uses this metric to measure its operating performance. The Company believes that to effectively compare core operating performance from period to period, the metric should exclude items relating to retirement benefits, significant non-cash expenses, the impacts of financing decisions on the earnings, and items incurred outside the ordinary, ongoing and customary course of its operations. Accordingly, the Company defines Adjusted EBITDAP as GAAP income (loss) from continuing operations before income taxes adjusted by interest expense, interest income, depreciation and amortization, retirement benefit expense, and unusual items which the Company does not believe are reflective of such ordinary, ongoing and customary activities. Adjusted EBITDAP does not represent, and should not be considered an alternative to, net income (loss) as determined in accordance with GAAP. _______ (1) Retirement benefit expense is net of cash funding to the Company’s tax-qualified defined benefit pension plan which are recoverable costs under the Company’s U.S. government contracts. The Company funded $(0.6) million and $27.5 million to its tax-qualified defined benefit pension plan that was recoverable in the Company’s fiscal 2016 U.S. government contracts for the three and twelve months ended December 31, 2016, respectively. In addition to segment performance and Adjusted EBITDAP, the Company provides the Non-GAAP financial measures of free cash flow and net debt. The Company uses these financial measures, both in presenting its results to stakeholders and the investment community, and in its internal evaluation and management of the business. Management believes that these financial measures are useful because it presents the Company’s business using the same tools that management uses to gauge progress in achieving its goals. (1) Free Cash Flow, a Non-GAAP financial measure, is defined as cash flow from operating activities less capital expenditures. Free Cash Flow should not be considered in isolation, as a measure of residual cash flow available for discretionary purposes, or as an alternative to cash flows from operations presented in accordance with GAAP. The Company believes Free Cash Flow is useful as it provides supplemental information to assist investors in viewing the business using the same tools that management uses to gauge progress in achieving the Company’s goals. Because the Company’s method for calculating the Non-GAAP measures may differ from other companies’ methods, the Non-GAAP measures presented above may not be comparable to similarly titled measures reported by other companies. These measures are not recognized in accordance with GAAP, and the Company does not intend for this information to be considered in isolation or as a substitute for GAAP measures.
News Article | February 15, 2017
Rumours suggest that Nokia is planning to bring back their iconic Nokia 3310 phone. Mobile users of a certain age have been getting very excited on social media about the return of this sturdy, reliable handset. If you were in the market for a new phone in the year 2000, then the 3310 may have been on your wish-list. But when Newsbeat contacts Nokia about the rumours, the company refused to comment. "Though we're as excited as everyone else to hear their news, as we have often said about such stories, we do not comment on rumour or speculation," a spokesperson tells us. It may seem unlikely in the world of Android and iPhones that anyone would want a 17-year-old handset that was best known for playing Snake, but the experts believe there is a place in the market. "I'm fairly confident my grandmother could use a 3310, but she wouldn't know where to start with an iPhone or Android," Alistair Charlton, deputy technology editor at the IB Times, tells Newsbeat. "You can take a £20 phone to a festival and leave your expensive, glass-fronted iPhone at home. "Backpackers and the like probably appreciate them too, given their tough build, cheap price and long battery life." And let's not forget, when Adele revealed the video for Hello back in 2015, she was seen in it making a call on a retro flip phone - not a smart device. Around that time, the media reported a rise in people seeking old phones, as the 1990s were firmly back in fashion and people like Rihanna were walking round chatting on a chunky mobile. So it's not just a phone for drug dealers, as many Twitter users seem to think. Alistair also backs the author of the original source of the 3310 rumours, VentureBeat writer Evan Blass, as a credible source for technology leaks. He describes the journalist as "a renowned tech leaker who is often accurate with his predictions." But Alistair also says that to succeed in the current market, Nokia will need to update the 3310's basic features to be relevant in 2017. "We don't communicate through calls and SMS as much as we did in the days of the 3310," he says. "If it had an internet connection and access to WhatsApp and Facebook Messenger, then maybe it has a place." Find us on Instagram at BBCNewsbeat and follow us on Snapchat, search for bbc_newsbeat