News Article | April 28, 2017
In an analysis of Medicare billing data submitted by more than 2,300 United States physicians, researchers have calculated the average number of surgical slices, or cuts, made during Mohs micrographic surgery (MMS), a procedure that progressively removes thin layers of cancerous skin tissue in a way that minimizes damage to healthy skin and the risks of leaving cancerous tissue behind. The study, the researchers say, serves as a first step towards identifying best practices for MMS, as well as identifying and informing physicians who may need re-training because their practice patterns deviate far from their peers. A report of the study, published in the journal JAMA Dermatology April 28, suggests that identifying and informing high outlier physicians of their extreme practice patterns can enable targeted re-training, potentially sparing patients from substandard care. The analysis is part of a medical quality improvement project called "Improving Wisely," funded by the Robert Wood Johnson Foundation and based at The Johns Hopkins University. The initiative focuses on developing and using individual physician-level measures to collect data and improve performance. The U.S. Centers for Medicare and Medicaid Services provided broad access to their records for the study. "The project aims to work by consensus, encouraging outliers to seek educational and re-training tools offered by their professional society," says Martin Makary, M.D., M.P.H., professor of surgery at the Johns Hopkins University School of Medicine and the paper's co-senior author. "That's the spirit of medicine's heritage of learning from the experience of other physicians." He estimates that the initiative could result in Medicare savings of millions of dollars. Ideally, says Makary, those who perform MMS make as few cuts or slices as possible to preserve as much normal tissue as possible while ensuring complete removal of cancers. As each layer of skin is removed, it is examined under a microscope for the presence of cancer cells. However, there can be wide variation in the average number of cuts made by a physician. Measuring a surgeon's average number of cuts was recently endorsed by the American College of Mohs Surgery (ACMS) as a clinical quality metric used to assess its members. "Outlier practice patterns in health care, and specifically Mohs surgery, can represent a burden on patients and the medical system," says John Albertini, M.D., immediate past president of the American College of Mohs Surgery and the paper's other senior author. "By studying the issue of variation in practice patterns, the Mohs College hopes to improve the quality and value of care we provide our patients." Taking their cue from that support, Makary and his research team analyzed Medicare Part B claims data from January 2012 to December 2014 for all physicians who received Medicare payments for MMS procedures on the head, neck, genitalia, hands and feet. These regions of the body account for more than 85 percent of all MMS procedures reimbursed by Medicare during those years. A total of 2,305 physicians who performed MMS were included in the analysis. The researchers also gathered the following data for each physician: sex, years in practice, whether the physician worked in a solo or group practice, whether the physician was a member of ACMS, whether the physician practiced at an Accreditation Council for Graduate Medical Education site for MMS, volume of MMS operations, and whether the physician practiced in an urban or rural setting. Physicians had to perform at least 10 MMS procedures each year to be included in the analysis. The researchers found that the average number of cuts among all physicians was 1.74. The median was 1.69 and the range was 1.09 to 4.11 average cuts per case. Of the 2,305 physicians who performed MMS during each of the three years studied, 137 were considered extremely high outliers during at least one of those years. An extremely high outlier was defined as having a personal average of greater than two standard deviations, or 2.41 cuts per case, above all physicians in the study. Forty-nine physicians were persistently high outliers during all three years. Physicians in solo practice were 2.35 times more likely to be a persistent high outlier than those in a group practice; 4.5 percent of solo practitioners were persistent high outliers compared to 2.1 percent of high outlier physicians who performed MMS in a group practice. Volume of cases per year, practice experience and geographic location were not associated with being a high outlier. Low extreme outliers, defined as having an average per case in the bottom 2.5 percent of the group distribution, also were identified. Of all physicians in the study, 92 were low outliers in at least one year and 20 were persistently low during all three years. Potential explanations for high outliers include financial incentive, because the current payment model for MMS pays physicians who do more cuts more money, Makary says. These charges are ultimately passed on to Medicare Part B patients, who are expected to pay 20 percent of their health care bill. Low outliers may be explained by incorrect coding, overly aggressive initial cuts, or choice of tumors for which MMS is not necessary, he says. Although the study was limited by lack of information about each patient's medical history, or the diameter or depth of each cut, Makary says it's a meaningful step toward identifying and mitigating physician outliers. "Developing standards based on physicians' actual experience and practices is the home-grown approach needed now to improve health care and lower costs of care," says Makary. Other authors on this paper include Aravind Krishnan, Tim Xu, Susan Hutfless and Angela Park of the Johns Hopkins University School of Medicine; Thomas Stasko of the University of Oklahoma; Allison T. Vidimos of the Cleveland Clinic; Barry Leshin of The Skin Surgery Center; Brett M. Coldiron of the University of Cincinnati Hospital; Richard G. Bennett of Bennett Surgery Center in Santa Monica, California; and Victor J. Marks and Rebecca Brandt of the American College of Mohs Surgery. Funding for this study was provided by a grant from the Robert Wood Johnson Foundation (grant No. 73417) and the American College of Mohs Surgery.
News Article | May 2, 2017
Google has officially released the May 2017 Android security patch, which is the first one since the release of Android 7.1.2 Nougat. The update, which is now available for supported Pixel and Nexus devices, includes fixes to minor bugs and several security issues. Google has provided both the over-the-air form and factory image form of the latest Android security patch. The update contains two security patch level strings, namely 2017-05-01, which is a partial update for current and known security issues, and 2017-05-05, which is the complete security patch for May. Google discussed the various bugs and issues that the security patch fixed in the Android Security Bulletin that accompanied the update. According to Google, the most severe security issue that the patch fixes is a critical vulnerability that allows hackers to execute remote code on a target Android device. The code can be initiated through various means, including web browsing, email, and MMS, when processing media files on vulnerable Android smartphones and tablets. Google, however, was quick to note that there have been no reports on a user exploiting the vulnerability, or any of the other newly reported issues included in the security update. There are 20 issues fixed for the 2017-05-01 string and 98 issues fixed for the 2017-05-05 string. Google encouraged all users of Pixel and Nexus devices to install the latest security patch to protect themselves from possible security breaches. Users can simply wait for the update to arrive to their device for easy installation. Users who would like to receive the update right away can manually download and install the over-the-air or factory image versions of the security update. However, installing the security update through a factory image will wipe a device clean with the installation of a fresh version of the smartphone or tablet's system. The supported devices for the update are the Pixel, Pixel XL, Pixel C, Nexus 6P, Nexus 5X, Nexus Player, Nexus 6, Nexus 9 LTE, and Nexus 9 Wi-Fi. The first six devices are required to be on Android 7.1.2 Nougat, while the last three devices are required to be on the lower Android 7.1.1 Nougat. Users should take advantage and appreciate these security updates while they can, especially for owners of the older Nexus models. It was previously reported that Nexus 9 and Nexus 6 owners will stop receiving security updates starting October 2017. The devices have already stopped receiving Android updates in October 2016. Nexus 6P and Nexus 5X owners should only expect Android updates until September 2017 and security updates until September 2018. Owners of the Pixel and Pixel XL, the latest devices released by Google, will only receive Android updates until October 2018 and security updates until October 2019. Last month, Google released the developer preview of Android 8.0 O, revealing several features that will be included in the upcoming major version. Among these features are adaptive icons for apps, autofill support, battery life improvements, more lock screen customization options, multi-display support, and many more. © 2017 Tech Times, All rights reserved. Do not reproduce without permission.
News Article | April 29, 2017
In an analysis of Medicare billing data submitted by more than 2,300 United States physicians, researchers have calculated the average number of surgical slices, or cuts, made during Mohs micrographic surgery (MMS), a procedure that progressively removes thin layers of cancerous skin tissue in a way that minimizes damage to healthy skin and the risks of leaving cancerous tissue behind.
News Article | April 24, 2017
On the occasion of the publication of this press release, Abdeslam Ahizoune, Chairman of the Management Board, stated: "In a context marked by a tightening of environmental and competition regulations, Maroc Telecom Group good results for this first quarter of 2017 prove the relevance of its development model, which is based on an effective commercial dynamic that is centered on technological innovation and services adapted to the needs of its customers. In a parallel fashion, the Group pursues its costs optimization, to sustain its margin rates and strengthen its profitability. Its investment capacity, which is thus preserved, enables the Group to pursue a strategy whereby it stands out for the quality of its networks and services in its markets both in Morocco and in the Sub-Saharan Africa." * The exceptional items corresponding to the capital gain on the disposal of real estate for 295 million Moroccan Dirhams at the first quarter of 2016 and restructuring costs for 183 million Moroccan Dirhams at the first quarter of 2017 The number of Group subscribers reached more than 54 million at end March 2017, up 2.7% over one year, mainly driven by the growth of the Mobile and Internet customers in Niger, Ivory Coast, Togo and Gabon thanks to continuous market share gains. As of end of March, 2017, Maroc Telecom Group reported consolidated revenues(3) totaling 8,517 million Dirhams, down 2.7% (-1.9% at constant exchange rates), notably due to the unfavorable calendar effect and important reductions in call termination rates in Morocco and internationally. At end of March 2017, Maroc Telecom Group earnings from operations before depreciation and amortization (EBITDA) amounted to 4,242 million Dirhams, up 0.7% from the previous year (+1.4% at constant exchange rates). This performance is explained by the intensification of programs seeking to cut operating costs, which drop by 2.0% at constant exchange rates, and the favorable impact of the reduction in mobile termination rates in the African subsidiaries. The EBITDA margin has risen by 1.6 pt in a year, and established to the high level of 49.8%. At end of March 2017, consolidated earnings from operations(4) (EBITA) for Maroc Telecom Group stand at 2,466 million Dirhams, including 183 million Dirhams of restructuring costs relative to the voluntary redundancy plan launched in Morocco at the end of 2016. Excluding this one off impact and the capital gain realized following the disposal of a real estate asset in the first quarter of 2016 (295 million Moroccan Dirhams), Maroc Telecom Group EBITA rose by 2.1% at constant exchange rates, due to the 1.4% improvement in EBITDA. The voluntary redundancy plan in Morocco launched in December 2016 has benefited a total of 1,017 employees, for a global cost of 569 million Dirhams. For the first quarter 2017, the Group share of net income came to 1,366 million Dirhams, after booking restructuring costs in the amount of 128 million Moroccan Dirhams after tax. Apart from this effect and the real estate capital gain realized in the first quarter of 2016, the group share of net income rose by 8.7% (at constant exchange rates), notably due to the success of the restructuring of the new subsidiaries which net income, in total, is positive now. Cash flows from operations (CFFO)(5) are down 49% as compared with the same period of 2016, to 1,350 million Dirhams, after making payment of 435 million Dirhams for licenses in the Ivory Coast and Togo and of 553 million Dirhams for the voluntary redundancy plan in Morocco. The remaining part of the restructuring charge will be disbursed in the second quarter of 2017. During the first quarter of 2017, operations in Morocco generated revenues of 5,024 million Dirhams, down 2.6% as a result of the reduction in revenues from the Mobile (- 3.6%) and Fixed (-1.2%) activities in rather unfavorable regulatory and competition contexts. The re-establishment of a 20% asymmetry on mobile call termination rates as from the beginning of March and the incoming international revenue decrease are partially offset by the upturn of both mobile (+58%) and fixed data revenues (+7%). Earnings from operations before depreciation and amortization (EBITDA) stand at 2,643 million Dirhams, down slightly by 1.4% vs the same period of the previous year, thanks to the 1.8% reduction in operating costs reflecting the first positive effects of the voluntary redundancy plan. The EBITDA margin rose by 0.6 pt and reached a high level of 52.6%. Earnings from operations (EBITA) was 1,534 million Dirhams, following the booking of an additional restructuring charge of 183 million Dirhams, connected with the voluntary redundancy plan. Aside from this effect, EBITA in Morocco would have dropped by just 2.8%, due to the 1.4% reduction in EBITDA and the 1.4% rise in amortization expenses following the major investments pursed by Maroc Telecom to modernize its networks and deploy 4G+. During the first three months of 2017, cash flows from operations in Morocco stood at 988 million Dirhams, due to the payment of 553 million Dirhams in indemnities under the scope of the voluntary redundancy plan. Restructuring operations aside, these flows dropped by just 2.0% due to the reduction in EBITDA and the 20% rise in investments. As of March 31, 2017, the Mobile subscriber base(6) reached 18.4 million, up 0.3% in a year, thanks to the 4.0% rise in postpaid subscribers, whilst the prepaid remained stable (-0.1%). With the establishment of a 20% asymmetry on termination rates in favor of competing operators since March 1st, 2017 and a decrease in incoming international traffic, Mobile revenues came to 3,275 million Dirhams, down 3.6% over the same period of last year. The outgoing revenues invoiced to customers are up by a solid 2.1% thanks to the success of Maroc Telecom mobile data offers which more than offset the drop in Voice, despite the unfavorable calendar effect. Blended ARPU(8) for the first three months of 2017 was 56.6 Dirhams, down by 4.1% compared to the same period in 2016. The rise in data services(9) continued with an 85% increase in traffic and a 19% increase in the mobile Internet customer base, supported by the rapid expansion of 3G and 4G+ networks covering 87% and 74% of the population respectively. At the end of March 2017, the Fixed-line subscribers base reached 1,670 thousand lines, up 4.0%, mainly driven by the Residential segment, which increased its subscribers numbers by 6.0%. The ADSL subscriber base continued to rise with close to 1.3 million subscribers, up 9.4% over the year. During the first quarter of 2017, Fixed-line and Internet businesses in Morocco booked revenues of 2,214 million Dirhams, down 1.2% compared with the same period of 2016, primarily due to the reduction in the international transit business, which had small margins. Growth of Fixed-line data remains solid, rising by 7.1% during the first quarter of 2017. During the first quarter of 2017, the Group's international activities recorded revenues of 3,766 million Dirham, down 2.5% as a result of unfavorable calendar and foreign exchange impacts, as well as major reductions in call termination rates. Outside the impact of these factors, the revenues of the African subsidiaries are up 1.6%, a similar performance to that of the fourth quarter of 2016, thanks to gains in market share and growth in Data usage. For the same period, earnings from operations before depreciation and amortization (EBITDA) came to 1,599 million Dirham, up 4.2% (+6.3% at constant exchange rates), due to the improvement by 2.4 points in the gross margin rates, particularly following the reduction in call termination rates and the efforts made to optimize operating costs, which are down 1.6%. Earnings from operations (EBITA) for the first quarter of 2017 came to 932 million Dirhams, showing a sharp rise by 12.2% at constant exchange rates, after adjusting for the capital gain of 295 million Dirhams realized during the first quarter 2016 following the disposal of a real estate asset. The corresponding operating margin stood at 24.7%, up 2.8 points at constant exchange rates, thanks to the 0.4% reduction in amortization expense. Cash flows from operations (CFFO) on international business came to 362 million Dirhams following the payment made of 435 million Dirham for licenses in the Ivory Coast and Togo. Aside from these exceptional items, and the capital gain realized in the first quarter of 2016, the CFFO of the African subsidiaries is up 1.1%. (1) Fixed exchange rate upheld for MAD / Ouguiya / CFA franc. (2) CAPEX corresponds to the acquisition of tangible and intangible assets over the period. 3) Maroc Telecom consolidates the following companies in its financial statements: Mauritel, Onatel, Gabon Telecom, Sotelma and Casanet as well as the new African subsidiaries (Ivory Coast, Benin, Togo, Niger, Central African Republic) and Prestige Telecom which provides IT services to those companies since their acquisition on January 26, 2015. (4) EBITA corresponds to EBIT before the amortization of intangible assets acquired through business combinations, before impairment of goodwill and other intangibles acquired through business combinations, and before other income and charges related to financial investments and to transactions with shareholders (except when recognized directly in equity). (5) CFFO comprises pretax net cash flows from operations (see the statement of cash flows), dividends received from affiliates, and unconsolidated equity interests. CFFO also comprises net capital expenditure, which corresponds to net uses of cash for acquisitions and disposals of property, plant, equipment, and intangible assets. (6) The active customer base is made up of prepaid customers who have made or received a voice call (other than from public telecommunications network operators (ERPT) or from their customer services centers) or have made an SMS/MMS or used Data services, with the exception of technical exchanges of information with ERPT departments, during the past three months, and postpaid customers who have not terminated their agreements. (7) The active customer base for 3G and 4G+ mobile Internet includes holders of a postpaid subscription agreement (with or without a voice offer) and holders of a prepaid Internet subscription agreement who have made at least one top-up during the past three months or whose top-up is still valid and who have used the service during this period. (8) ARPU is defined as revenues (generated by inbound and outbound calls and by data services) net of promotional offers, excluding roaming and equipment sales, divided by the average customer base for the period. In this instance, blended ARPU combines both prepaid and postpaid segments. (9) Mobile data revenues include revenues from all non-voice services billed (SMS, MMS, mobile Internet, etc.), including the valuation of Mobile Internet access and SMS included in all Maroc Telecom postpaid rate plans and Jawal passes. (10) The broadband customer base includes ADSL access and connections leased to Morocco and also includes the CDMA customer base for its historical subsidiaries. Forward-looking statements. This press release contains forward-looking statements concerning the financial position, earnings from operations, strategy, and outlook of Maroc Telecom, as well as the impact of certain operations. Although Maroc Telecom may base its forward-looking statements on what it considers to be reasonable assumptions, those statements do not guarantee the future performance of the Company. The actual results may be very different from the forward-looking statements because of a number of risks and uncertainties, both known and unknown. The majority of these risks are beyond our control, namely the risks described in public documents filed by Maroc Telecom with the Autorité Marocaine du Marché des Capitaux (www.ammc.ma) and the Autorité des Marchés Financiers (www.amf-france.org). These documents are also available in French on our website (www.iam.ma ). This press release contains forward-looking information that cannot be measured until its publication date. Maroc Telecom in no way commits to supplementing, updating, or modifying these forward-looking statements as a result of new information, future events or any other reason, subject to the applicable regulations and especially to Articles III.2.31 et seq. of the circular of the Moroccan Securities Regulator (Autorité Marocaine du Marché des Capitaux) and to Articles 223-1 et seq. of the General Regulation of the French Financial Market authority (Autorité des Marchés Financiers, or AMF). Maroc Telecom is a full-service telecommunications operator in Morocco and leader in all its Fixed-Line, Mobile and Internet business sectors. It has expanded internationally and it now has a presence in ten African countries. Maroc Telecom is listed on both the Casablanca and Paris exchanges, and its majority shareholders are the Société de Participation dans les Télécommunications (SPT*) (53%) and the Kingdom of Morocco (30%). *SPT is a company incorporated under Moroccan law and controlled by Etisalat.
News Article | May 4, 2017
Dow-Key® Microwave, part of the Microwave Products Group (MPG) - a subsidiary of Dover Corporation, to exhibit solutions up to 40 GHz at AUVSI Xponential: Microwave Products Group Booth 420. On May 8, 2017, the largest global community of leaders in drones, intelligent robotics and unmanned systems will come together to shape the future of our industry. AUVSI Xponential 2017 will equip you with insights, solutions and opportunities for the industry’s newest developments and challenges. This year, AUVSI Xponential will be held in Dallas, Texas, on May 8-11 at the Kay Bailey Hutchison Convention Center with Dow-Key® Microwave - the oldest continuously operating switch manufacturer in the United States, showcasing a broad array of high quality and reliable 40 GHz electro-mechanical switches, in addition to, switch solutions such as the Reliant Switch™ and Miniature MS-Series Matrix used for Automated Test applications. Dow-Key® Microwave is committed to providing a wide selection of coaxial switch options operating up to 40 GHz, which can be configured for a variety of ATE and military applications. Our 40 GHz switching solutions “are legacy products proven over and over again, which supports high speed testing and application that operates from 28 GHz and up to 40 GHz such as millimeter wave drones and devices designed for the 5G network,” said Sara Nazemzadeh, Dow-Key® Microwave’s Matrix Product Sales Manager. This product line is also offered both with terminated or non-terminated RF ports, catering to applications that may need the transition line to be terminated. For applications, on the lower end of the 5G spectrum, “We are excited to showcase our newest generation of switch matrix product line, the Miniature MS-series (MMS). It is an ideal solution for routing RF signals in test and measurement applications up to 26.5 GHz or to use as a VNA port extender. The MMS-Series comes equipped with the user’s choice of high performance Reliant Switches™ in a compact enclosure, taking minimal real estate space in a test lab” said Sara Nazemzadeh. Furthermore, “the Reliant Switch™ design features a guaranteed insertion loss repeat-ability of 0.03 dB across the entire frequency band of DC to 26.5 GHz, and it comes with an extended life of a minimum of 10 Million Life Cycles for SPDT’s and 5 Million Life Cycles for SP6T’s, which is perfect for high density and high repeat-ability RF test applications.” For more information please visit Dow-Key® Microwave at Microwave Products Group Booth 420. About Dow-Key® Microwave Corporation As the world’s largest manufacturer of electromechanical switches, Dow-Key® Microwave Corporation is committed to providing unparalleled customer service, competitive pricing, on-time delivery and products that are distinguished by quality and reliability. Founded in 1945, Dow-Key® is the oldest continuously operating switch manufacturer in the United States. Today, the company is part of the Microwave Products Group, a subsidiary of Dover Corporation. Dover is a multi-billion dollar, diversified manufacturer of a wide range of proprietary electronic components and systems
News Article | May 3, 2017
Text My Main Number is a USA based business messaging service provider. The representative of the company announced to offer landline texting service to B2C industry vertical in the USA in their budget. -- Text My Main Number is a USA based business messaging service provider. The company offers a unique mode of communication called,. This business communication solution text enables the landline number of a company which subscribes to use this service. This text-enabled landline number then can be used for 2-way communication. This means the landline number can be used for both, calling and texting. Yes, the text-enabled landline numbers can send and receive the text messages as well as MMS over landline numbers. The representative of the company made an announcement about their different packages of landline messaging service which can be used by the B2C industry verticals in the USA. The representative of the company further shared that this package are customized by keeping the communication need of the different customers. Also, they have designed these packages in a way that those fit into the budget of the people.As per the shared details, the landline texting service can be used by following industry verticals to leverage texting related benefits:· Hotels and restaurants· Hospitals· Pharmacy company and individual pharmacist· Schools, colleges, coaching classes and other educational institutes· Insurance agencies· Law firms· Concierge services· Emergency help line numbers· Hair salon, spa and beauticians· Boutique owners· And many moreThe packages are defined in a way that each B2C owner can utilize this unique communication model to empower their business brand among the competitors. The company has defined 3 different packages which start at as low as 25 USD/Month. Furthermore, the spokesperson of the company shared with the media that they also offer custom packages. This custom package can be as low as 15 USD/Month, in case, some professionals are looking for very basic SMS to Landline Services. This unique package has made the brand of Text My Main Number different from its competitors.According to the further information shared by the representative of Text My Main Number, they have designed these packages to ensure each B2C owner can utilize this amazing business messaging service as per his or her individual requirement. There can be a few people who need to share a few numbers of SMS to their customers so they don't need to pay higher prices because their usage is limited. Furthermore, there are a few businesses such as a multispecialty hospital; they may require unlimited texting service as they have to send messages in bulk. In all packages, they can receive unlimited SMS to Landline of the company.The representative of the company further shared that their representatives will provide free consultation service to help interested customers choosing the best package for them. Text My Main Number provides a free trial for 30 days worth 200 USD to experience the business messaging solution.To know more about their rates of landline texting service, please visit http://textmymainnumber.com/
News Article | April 24, 2017
« Dans un contexte marqué par un durcissement de l'environnement réglementaire et concurrentiel, les bons résultats du groupe Maroc Telecom pour ce premier trimestre 2017 démontrent la pertinence de son modèle de développement basé sur une dynamique commerciale efficace, centrée sur l'innovation technologique et des services répondant aux attentes de ses clients. Le Groupe poursuit en parallèle l'optimisation de ses coûts, pour soutenir ses marges et renforcer sa profitabilité. Sa capacité d'investissement, ainsi préservée, lui permet de poursuivre sa stratégie de différentiation par la qualité de ses réseaux et de ses services sur ses marchés aussi bien au Maroc qu'en Afrique subsaharienne.» Le nombre de clients du Groupe dépasse 54 millions à fin mars 2017, en progression de 2,7% sur un an, tiré essentiellement par la croissance des parcs Mobile et Internet au Niger, en Côte d'Ivoire, au Togo et au Gabon grâce à des gains continus de part de marché. Au cours du premier trimestre 2017, les activités au Maroc ont généré un chiffre d'affaires de 5 024 millions de dirhams, en recul de 2,6%, sous l'effet de la baisse des revenus des activités Mobile (-3,6%) et Fixe (-1,2%) dans des environnements concurrentiels et réglementaires peu favorables. La réinstauration d'une asymétrie de 20% sur les terminaisons d'appels Mobile depuis début Mars et la baisse du revenu international entrant sont partiellement compensées par l'essor du chiffre d'affaires Data aussi bien Mobile (+ 58%) que Fixe (+7%). L'essor des services Data(9) se poursuit avec une hausse de 85% du trafic et de 19% du parc Internet Mobile, soutenu par l'expansion rapide des réseaux 3G et 4G+ qui couvrent respectivement 87% et 74% de la population. Au cours du premier trimestre 2017, les activités du Groupe à l'International ont enregistré un chiffre d'affaires de 3 766 millions de dirhams, en baisse de 2,5% en raison d'effets de calendrier et de change défavorables et suite à d'importantes baisses des tarifs de terminaison d'appel. Hors ces effets, le chiffre d'affaires des filiales africaines ressort en hausse de 1,6%, soit un rythme similaire à celui du quatrième trimestre 2016, grâce à des gains de parts de marché et la croissance des usages Data. (1) Maintien d'un taux de change constant MAD/Ouguiya/Franc CFA. (2) Les CAPEX correspondent aux acquisitions d'immobilisations corporelles et incorporelles comptabilisées sur la période. 3) Maroc Telecom consolide dans ses comptes les sociétés Mauritel, Onatel, Gabon Telecom, Sotelma et Casanet ainsi que les nouvelles filiales africaines (en Côte d'Ivoire, Bénin, Togo, Niger, Centrafrique et Prestige Telecom qui fournit des services IT à ces dernières) depuis leur acquisition le 26 janvier 2015. (4) L'EBITA correspond au résultat opérationnel avant les amortissements des actifs incorporels liés aux regroupements d'entreprises, les dépréciations des écarts d'acquisition et autres actifs incorporels liés aux regroupements d'entreprises et les autres produits et charges liés aux opérations d'investissements financiers et aux opérations avec les actionnaires (sauf lorsqu'elles sont directement comptabilisées en capitaux propres). (5) Le CFFO comprend les flux nets de trésorerie provenant des activités d'exploitation avant impôts, tels que présentés dans le tableau des flux de trésorerie, ainsi que les dividendes reçus des sociétés mises en équivalence et des participations non consolidées. Il comprend aussi les investissements industriels nets, qui correspondent aux sorties nettes de trésorerie liée aux acquisitions et cessions d'immobilisations corporelles et incorporelles. (6) Le parc actif est constitué des clients prépayés, ayant émis ou reçu un appel voix (hors appel en provenance de l'ERPT concerné ou de ses Centres de Relations Clients) ou émis un SMS/MMS ou ayant fait usage des services Data (hors échanges de données techniques avec le réseau de l'ERPT concerné) durant les trois derniers mois, et des clients postpayés non résiliés. (7) Le parc actif de l'Internet Mobile 3G et 4G+ inclut les détenteurs d'un contrat d'abonnement postpayé (couplé ou non avec une offre voix) et les détenteurs d'une souscription de type prépayé au service Internet ayant effectué au moins une recharge durant les trois derniers mois ou dont le crédit est valide et qui ont utilisé le service durant cette période. (8) L'ARPU se définit comme le chiffre d'affaires (généré par les appels entrants et sortants et par les services de données) net des promotions, hors roaming et ventes d'équipement, divisé par le parc moyen de la période. Il s'agit ici de l'ARPU mixte des segments prépayé et postpayé. (9) Le revenu Data mobile inclut le chiffre d'affaires de l'ensemble des services non-voix (SMS, MMS, internet mobile, etc.) y compris la valorisation de l'accès Internet Mobile et SMS inclus dans tous les forfaits postpayés et les Pass Jawal de Maroc Telecom. (10) Le parc haut débit inclut les accès ADSL et les liaisons louées au Maroc et inclut également le parc CDMA pour les filiales historiques. Déclarations prospectives. Le présent communiqué de presse contient des déclarations et éléments de nature prévisionnelle relatifs à la situation financière, aux résultats des opérations, à la stratégie et aux perspectives de Maroc Telecom ainsi qu'aux impacts de certaines opérations. Même si Maroc Telecom estime que ces déclarations prospectives reposent sur des hypothèses raisonnables, elles ne constituent pas des garanties quant à la performance future de la société. Les résultats effectifs peuvent être très différents des déclarations prospectives en raison d'un certain nombre de risques et d'incertitudes connus ou inconnus, dont la plupart sont hors de notre contrôle, notamment les risques décrits dans les documents publics déposés par Maroc Telecom auprès du l'Autorité Marocaine du Marché des Capitaux (www.ammc.ma) et de l'Autorité des Marchés Financiers (www.amf-france.org), également disponibles en langue française sur notre site (www.iam.ma). Le présent communiqué de presse contient des informations prospectives qui ne peuvent s'apprécier qu'au jour de sa diffusion. Maroc Telecom ne prend aucun engagement de compléter, mettre à jour ou modifier ces déclarations prospectives en raison d'une information nouvelle, d'un évènement futur ou de tout autre raison, sous réserve de la réglementation applicable notamment les articles III.2.31 et suivants de la circulaire de l'Autorité Marocaine du Marché des Capitaux et 223-1 et suivants du règlement général de l'Autorité des Marchés Financiers. Maroc Telecom est un opérateur global de télécommunications au Maroc, leader sur l'ensemble de ses segments d'activités, Fixe, Mobile et Internet. Il s'est développé à l'international et est aujourd'hui présent dans dix pays en Afrique. Maroc Telecom est coté simultanément à Casablanca et à Paris et ses actionnaires de référence sont la Société de Participation dans les Télécommunications (SPT)* (53%) et le Royaume du Maroc (30%).
News Article | May 6, 2017
US Service Provider DCC Selects BroadForward for Next Generation HSS and DSC US service provider Digital Communication Consulting (DCC) enables 4G data and VoLTE services using the Summa Networks Home Subscriber Server (HSS) and the BFX Diameter Signaling Controller (DSC) delivered by BroadForward. Amersfoort, Netherlands, May 06, 2017 --( DCC is a Mobile Virtual Network Enabler (MVNE) which provides cellular communications for carriers with IoT/M2M or Voice and Data needs. DCC offers a range of 2G/3G/LTE core services which include SMS, MMS, Voice, Data, IMS-VoLTE as well as USSD and OTA. Additionally DCC produces and profiles SIMs that are ready for CDMA, GSM, LTE and IMS-VoLTE. DCC has customers in North America, South America, Europe and in the Asia-Pacific region. The Next Generation HSS is a flexible software solution combining the NextGen HSS/HLR application function from Summa Networks with the BFX Diameter Signaling Controller of BroadForward. This integrated solution provides DCC with a highly flexible HSS, which is ideally suited for the MVNO/MVNE and M2M market. It is designed to overcome the limitations and disadvantages of traditional HSS products regarding flexibility, virtualization, cost of scaling and vendor lock-in. Jake Brown, CEO for DCC commented, “The BroadForward-Summa Networks HSS solution is not only highly cost-effective, it is ideal for an agile service provider such as DCC. Especially the combination of a software based design with feature rich HSS/HLR service capabilities allows us to extend our functionality according to our needs for now and the future. This product actually provides the flexibility demanded by MVNO/MVNE players, and helps service providers to overcome the typical barriers of the traditional HLR and HSS products.” About BroadForward BroadForward is the leading expert in Diameter routing and interworking for 2G/3G, 4G/LTE, IMS, Fixed, Wi-Fi, Number Portability and M2M networks. BroadForward’s BFX is the Next Generation Diameter Signaling Controller, enabling routing and interworking for Diameter, RADIUS, SS7, ENUM and IT protocols. BroadForward’s Next Generation HSS-HLR solution enables central subscriber management across GSM, UMTS, LTE, IMS, Wi-Fi and M2M networks. This solution is the result of a joint project with technology partner Summa Networks. Website: www.broadforward.com About DCC Digital Communications Company (DCC) is a full-service mobile and wireless communications solutions provider. We can help you achieve faster growth, greater flexibility, and higher profitability from your wireless network. The Geo diverse IPX interconnectivity allows for 2G/3G/LTE roaming (SS7, DSS, GRX, DSS-Bearer, SMS-IG, and MMS-IG. Data clearing services are also offered as well as NRTRDE. We provide multiple paths for maximum protection. You can trust DCC to address your unique challenges and provide a superior wireless experience. Let us help you maintain your competitive edge. We provide high-quality, dependable solutions, including Geo diverse data centers, SIM design profiling, fully featured 2G/3G/4G/LTE switching platforms, multi-IMSI steering platforms, and more. We design our unique products with HA and according to industry standard protocols. We create solutions to be scalable and utilize best practice design. Our goal is to provide products that fully meet your needs and exceed your expectations. Website: www.dccllc.net Amersfoort, Netherlands, May 06, 2017 --( PR.com )-- Digital Communication Consulting, LLC (DCC), a US based full-service mobile and wireless communications solutions provider, announced it has gone live with the Next Generation HSS and DSC delivered by BroadForward. This solution provides DCC with essential capabilities for offering the LTE and IMS services to its MVNO customers.DCC is a Mobile Virtual Network Enabler (MVNE) which provides cellular communications for carriers with IoT/M2M or Voice and Data needs. DCC offers a range of 2G/3G/LTE core services which include SMS, MMS, Voice, Data, IMS-VoLTE as well as USSD and OTA. Additionally DCC produces and profiles SIMs that are ready for CDMA, GSM, LTE and IMS-VoLTE. DCC has customers in North America, South America, Europe and in the Asia-Pacific region.The Next Generation HSS is a flexible software solution combining the NextGen HSS/HLR application function from Summa Networks with the BFX Diameter Signaling Controller of BroadForward. This integrated solution provides DCC with a highly flexible HSS, which is ideally suited for the MVNO/MVNE and M2M market. It is designed to overcome the limitations and disadvantages of traditional HSS products regarding flexibility, virtualization, cost of scaling and vendor lock-in.Jake Brown, CEO for DCC commented, “The BroadForward-Summa Networks HSS solution is not only highly cost-effective, it is ideal for an agile service provider such as DCC. Especially the combination of a software based design with feature rich HSS/HLR service capabilities allows us to extend our functionality according to our needs for now and the future. This product actually provides the flexibility demanded by MVNO/MVNE players, and helps service providers to overcome the typical barriers of the traditional HLR and HSS products.”About BroadForwardBroadForward is the leading expert in Diameter routing and interworking for 2G/3G, 4G/LTE, IMS, Fixed, Wi-Fi, Number Portability and M2M networks. BroadForward’s BFX is the Next Generation Diameter Signaling Controller, enabling routing and interworking for Diameter, RADIUS, SS7, ENUM and IT protocols.BroadForward’s Next Generation HSS-HLR solution enables central subscriber management across GSM, UMTS, LTE, IMS, Wi-Fi and M2M networks. This solution is the result of a joint project with technology partner Summa Networks. Website: www.broadforward.comAbout DCCDigital Communications Company (DCC) is a full-service mobile and wireless communications solutions provider. We can help you achieve faster growth, greater flexibility, and higher profitability from your wireless network. The Geo diverse IPX interconnectivity allows for 2G/3G/LTE roaming (SS7, DSS, GRX, DSS-Bearer, SMS-IG, and MMS-IG. Data clearing services are also offered as well as NRTRDE. We provide multiple paths for maximum protection. You can trust DCC to address your unique challenges and provide a superior wireless experience. Let us help you maintain your competitive edge.We provide high-quality, dependable solutions, including Geo diverse data centers, SIM design profiling, fully featured 2G/3G/4G/LTE switching platforms, multi-IMSI steering platforms, and more. We design our unique products with HA and according to industry standard protocols. We create solutions to be scalable and utilize best practice design. Our goal is to provide products that fully meet your needs and exceed your expectations. Website: www.dccllc.net Click here to view the list of recent Press Releases from BroadForward
News Article | April 25, 2017
Record revenue, up 63% over prior year GAAP net income, GAAP EPS, and record adjusted EBITDA exceed estimates ANDOVER, Mass., April 25, 2017 (GLOBE NEWSWIRE) -- Mercury Systems, Inc. (NASDAQ:MRCY) (www.mrcy.com), reported operating results for the third quarter of fiscal 2017, ended March 31, 2017. Management Comments “The third quarter was another significant milestone toward achieving our objectives for fiscal 2017,” said Mark Aslett, Mercury’s President and Chief Executive Officer. “During the quarter we delivered a very strong financial performance with record revenues while our profitability exceeded estimates. Year-over-year revenues and GAAP net income both grew more than 60%. Additionally, on February 1, 2017 we raised net proceeds of $215.7 million through a very successful stock offering, replenishing our capacity to invest in future growth both organically and through continued acquisitions. Finally, on April 3, 2017 we closed the acquisition of Delta Microwave, adding new capabilities, scale and breadth to Mercury's existing RF, microwave and millimeter wave portfolio, while further expanding our addressable market,” Aslett concluded. Third Quarter Fiscal 2017 Results Total Company third quarter fiscal 2017 revenues were $107.3 million, compared to $65.9 million in the third quarter of last fiscal year. These results include approximately $6.4 million of revenue attributable to the CES business, which was acquired in the second quarter of fiscal 2017. GAAP net income for the third quarter of fiscal 2017 was $7.0 million, or $0.16 per share, compared to $4.4 million, or $0.13 per share for the third quarter of fiscal 2016. Adjusted earnings per share (“adjusted EPS”) were $0.29 per share for the third quarter of fiscal 2017, compared to $0.25 per share in the third quarter of fiscal 2016. All per share information is presented on a fully diluted basis and fiscal 2017 includes the effect of our recent stock offering. Third quarter fiscal 2017 adjusted EBITDA for the Company was $25.0 million, compared to $14.6 million for the third quarter of fiscal 2016. The third quarter fiscal 2017 adjusted EBITDA includes approximately $1.5 million associated with the CES business. Cash flows from operating activities in the third quarter of fiscal 2017 were a net inflow of $24.9 million, compared to a net inflow of $4.4 million in the third quarter of fiscal 2016. Free cash flow, defined as cash flow from operating activities less capital expenditures, was a net inflow of $11.9 million in the third quarter of fiscal 2017, compared to a net inflow of $2.6 million in the third quarter of fiscal 2016. Bookings Total bookings for the third quarter of fiscal 2017 were $106.5 million, yielding a book-to-bill ratio of 1.0 for the quarter and representing a 32% increase compared to $80.8 million in bookings for the third quarter of fiscal 2016. Backlog Mercury’s total backlog at March 31, 2017 was $318.0 million, a $98.3 million increase from a year ago. Of the March 31, 2017 total backlog, $270.7 million represents orders expected to be shipped over the next 12 months. Business Outlook This section presents our current expectations and estimates, given current visibility, on our business outlook for the current fiscal quarter and fiscal year 2017. It is possible that actual performance will differ materially from the estimates given, either on the upside or on the downside. Investors should consider all of the risks with respect to these estimates, including those listed in the Safe Harbor Statement below and in our periodic filings with the U.S. Securities and Exchange Commission, and make themselves aware of how these risks may impact our actual performance. For the fourth quarter of fiscal 2017, revenues are forecasted to be in the range of approximately $112 million to $116 million. GAAP net income for the fourth quarter is expected to be approximately $6.5 million to $7.7 million, assuming no restructuring, acquisition, or additional financing related expenses in the period. GAAP EPS and adjusted EPS are expected to be in the range of $0.14 to $0.16 and $0.26 to $0.29 per share, respectively, assuming an effective tax rate of 35% and a 47.3 million diluted weighted average share count. Adjusted EBITDA for the fourth quarter of fiscal 2017 is expected to be in the range of $24.8 million to $26.7 million. For the full fiscal year 2017, before adding the impact of Delta Microwave, we now expect revenue to be between $400 million and $404 million, up from our prior expectation of $377 million to $384 million. Including Delta Microwave, total revenue for fiscal 2017 is now expected to be approximately $405 million to $409 million, with total GAAP net income of $22.6 million to $23.8 million, or $0.52 to $0.55 per share. Total adjusted EBITDA for the full fiscal year is now expected to be approximately $91.0 million to $92.9 million, representing approximately 22.5% to 22.7% of revenue. Adjusted EPS for fiscal 2017 is expected to be approximately $1.08 to $1.11 per share, assuming an effective tax rate of 35% and a 43.1 million diluted weighted average share count. Recent Highlights March – Mercury Systems announced the Ensemble® HDS9624 Secure Rack Server to address the need for rack servers with system security features that can be forward deployed or sold to allies under Foreign Military Sales (FMS) or Direct Commercial Sales (DCS) programs. In addition to the unique security features, Mercury's new product line is the only rack server that includes both ruggedization and a fully trusted supply chain for both hardware and software. March – Mercury announced volume production of its newest high density secure memory device, embedding 8GB of double data rate third-generation synchronous dynamic random-access memory (DDR3 SDRAM) in a military-hardened ball grid array (BGA) package. Available in both x64 and x72 architectures, Mercury's latest product is the defense industry's highest capacity ruggedized memory device. March – Mercury announced it received a follow-on five year sole source basic ordering agreement (BOA) from the U.S. Navy to deliver advanced Digital RF Memory (DRFM) subsystems supporting jamming in a multi-threat environment. Valued at up to $152 million, the order was received in the Company's fiscal 2017 third quarter and provides for research and development, production, engineering services and ongoing support. Work will be performed at the Company's Cypress, Calif. facility with a period of performance from March 2017 through February 2022. March – Mercury announced the Defense industry's first double data rate fourth-generation synchronous dynamic random-access memory (DDR4) high density secure memory device. Replacing up to eighteen industrial or commercial DDR4 devices with a single military-hardened component, Mercury delivers space savings up to 75% in a ball grid array (BGA) package with data transfer speeds up to 3200 Mb/s. February – Mercury announced it received a 2016 Enterprise Supplier Recognition Award from Northrop Grumman. Presented at a ceremony during Northrop Grumman's recent Global Partner Forum, the award recognizes Mercury for competitive advantage and enterprise-level supply chain excellence that add value to Northrop's programs. February – Mercury announced the launch of its Mercury Mission Systems (MMS) product line to address the immediate needs for safety-critical solutions for mission computing, avionics and platform management in the defense and commercial aerospace markets. MMS products feature not only the highest level of design assurance but also a full set of supporting software that reduces integration time and effort. The product line includes solutions from the former CES Creative Electronic Systems, S.A. located in Geneva, Switzerland, acquired by Mercury on November 4, 2016. February – Mercury announced it that its Chelmsford, Mass. facility recently received the Category 1A Trusted Supplier accreditation for design capability from the U.S. Defense Department's Defense Microelectronics Activity (DMEA). This expands upon the previously received Category 1A accreditation for broker, packaging, assembly, and test at Mercury's Phoenix, Ariz. facility, and is part of Mercury's overall strategy to be the leading commercial provider of trusted and secure sensor and mission processing subsystems. February – Mercury announced it received a $4.1 million follow-on order from a leading defense prime contractor for wideband millimeter wave transceivers for a homeland security high-resolution imaging application. The order was booked in the Company's fiscal 2017 third quarter and is expected to be shipped over the next several quarters. January – Addressing the need for tighter in-vehicle security, Mercury announced the CANGuard™ security suite, a unique software solution designed to protect automotive vehicle data networks. The Company also announced that it has entered into a licensing agreement with a leading automotive electronics manufacturer to enable the integration of CANGuard software into existing vehicle control units as well as future units. January – Mercury announced that it priced its previously announced underwritten public offering at $33.00 per share and increased the size of the offering to 6,000,000 shares of its common stock. The offering included a 30-day option for the underwriters to purchase up to an additional 900,000 shares of common stock at the same per share price, which was exercised. The offering closed on February 1, 2017. January – Mercury announced it received a $2.4 million follow-on order from a leading defense prime contractor to supply frequency conversion modules for an Electronic Warfare (EW) service life extension program. The order was booked in the Company's fiscal 2017 second quarter and is expected to be shipped over the next several quarters. January – Mercury announced it recently received $6.9 million in orders relating to a sensor processing application for fighter aircraft. The orders were booked in the Company's fiscal 2017 second quarter. January – Mercury announced it received a $24.4 million follow-on order from a leading defense prime contractor for integrated radio frequency (RF) and digital subsystems for an electronic warfare (EW) application. The order, which includes an option to purchase additional units, was booked in the Company's fiscal 2017 second quarter and is expected to be shipped over the next several quarters. Mercury will host a conference call and simultaneous webcast on Tuesday, April 25, 2017, at 5:00 p.m. ET to discuss the third quarter fiscal 2017 results and review its financial and business outlook going forward. To join the conference call, dial (877) 303-6977 in the USA and Canada, or (760) 298-5079 in all other countries. Please call five to ten minutes prior to the scheduled start time. The live audio webcast can be accessed from the 'Events and Presentations' page of Mercury's website at www.mrcy.com/investor. A replay of the webcast will be available two hours after the call and archived on the same web page for six months. Use of Non-GAAP Financial Measures In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the Company provides adjusted EBITDA, adjusted income, adjusted earnings per share “adjusted EPS”, and free cash flow, which are non-GAAP financial measures. Adjusted EBITDA, adjusted income, and adjusted EPS exclude certain non-cash and other specified charges. Free cash flow is defined as cash flow from operating activities less capital expenditures. The Company believes these non-GAAP financial measures are useful to help investors understand its past financial performance and prospects for the future. However, these non-GAAP measures should not be considered in isolation or as a substitute for financial information provided in accordance with GAAP. Management believes these non-GAAP measures assist in providing a more complete understanding of the Company’s underlying operational results and trends, and management uses these measures along with the corresponding GAAP financial measures to manage the Company’s business, to evaluate its performance compared to prior periods and the marketplace, and to establish operational goals. A reconciliation of GAAP to non-GAAP financial results discussed in this press release is contained in the attached exhibits. Mercury Systems – Innovation That Matters™ Mercury Systems (NASDAQ:MRCY) is a leading commercial provider of secure sensor and mission processing subsystems. Optimized for customer and mission success, Mercury’s solutions power a wide variety of critical defense and intelligence programs. Headquartered in Andover, Mass., Mercury is pioneering a next-generation defense electronics business model specifically designed to meet the industry’s current and emerging technology needs. To learn more, visit www.mrcy.com. This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to fiscal 2017 business performance and beyond and the Company’s plans for growth and improvement in profitability and cash flow. You can identify these statements by the use of the words “may,” “will,” “could,” “should,” “would,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” “likely,” “forecast,” “probable,” “potential,” and similar expressions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, continued funding of defense programs, the timing and amounts of such funding, general economic and business conditions, including unforeseen weakness in the Company’s markets, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, changes in, or in the U.S. Government’s interpretation of, federal export control or procurement rules and regulations, market acceptance of the Company's products, shortages in components, production delays due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions and restructurings, or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, changes to export regulations, increases in tax rates, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, unanticipated costs under fixed-price service and system integration engagements, and various other factors beyond our control. These risks and uncertainties also include such additional risk factors as are discussed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2016. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made. Mercury Systems, Innovation That Matters, Ensemble and CANGuard are trademarks of Mercury Systems, Inc. Other product and company names mentioned may be trademarks and/or registered trademarks of their respective holders.
News Article | May 4, 2017
RESTON, Va.--(BUSINESS WIRE)--MAXIMUS (NYSE: MMS), a leading provider of government services worldwide, today reported financial results for the three and six months ended March 31, 2017. Highlights for the second quarter of fiscal year 2017 include: For the second quarter of fiscal 2017, revenue increased 3% to $622.0 million compared to $606.5 million reported for the same period last year driven by the Health Services Segment. Most of the revenue growth in the quarter was organic, which was partially offset by a 2% decline from unfavorable foreign currency translation. On a constant currency basis, revenue would have increased 4% compared to the same period last year. Total company operating margin for the second quarter of fiscal 2017 was 12.9% compared to 12.8% for the same period last year. For the second quarter of fiscal 2017, net income attributable to MAXIMUS totaled $52.5 million (or $0.80 of diluted earnings per share). This was better than expected, driven by favorable results on several volume-based contracts in both the U.S. Federal Services and Health Services segments. This compares to diluted earnings per share of $0.74 for the second quarter of fiscal 2016, which benefited from out-of-period revenue and pre-tax income of $15.2 million (or $0.16 of diluted earnings per share) from two previously disclosed contract amendments in the Health Services Segment. Health Services Segment revenue for the second quarter of fiscal 2017 increased 6% to $349.0 million compared to $330.6 million reported for the same period last year. Most of the growth in the quarter was organic, which was offset by a 3% decline from unfavorable foreign currency translation. On a constant currency basis, revenue growth would have been 9%. Operating margin for the second quarter of fiscal 2017 was 16.2% compared to 17.2% reported in the prior-year period. As previously disclosed, the second quarter of last year benefited from $15.2 million of out-of-period revenue and pre-tax income related to two items: an $8.6 million change order on a large U.S. contract and $6.6 million resulting from contract modifications on the U.K. Health Assessment Advisory Service. U.S. Federal Services Segment revenue for the second quarter of fiscal 2017 decreased 3% to $145.4 million compared to $150.2 million reported for the same period last year. As previously disclosed, the lower revenue was largely a result of a contract cancellation for a program with the U.S. Department of Veterans Affairs. This contract ended in April of this year. Operating margin for the second quarter was 12.1% compared to 10.0% reported for the prior-year period. The margin expansion was driven by favorable results from several volume-based contracts. Human Services Segment revenue for the second quarter of fiscal 2017 increased 2% to $127.7 million compared to $125.7 million for the same period last year. Nearly all growth in the quarter was organic, which was partially offset by expected decreases in the Company's United Kingdom operations. The anticipated ramp down of the U.K. Work Programme unfavorably impacted both revenue and operating income in the second quarter of fiscal 2017. Operating margin for the second quarter was 7.5% and comparable to 7.8% for the same period last year. Year-to-date signed contract awards at March 31, 2017 totaled $1.5 billion and includes a three-year contract extension with the State of New York. In addition, contracts pending (awarded but unsigned) totaled $155.1 million. The sales pipeline at March 31, 2017 was $3.3 billion (comprised of approximately $0.6 billion in proposals pending, $0.9 billion in proposals in preparation, and $1.9 billion in opportunities tracking). This compares to a pipeline of $4.0 billion at December 31, 2016. The sequential decline is principally due to contracts converting to new awards and, to a lesser extent, procurement delays, contract losses, cancellations and no bids. Cash and cash equivalents at March 31, 2017 totaled $94.9 million. For the three months ended March 31, 2017, cash flows from operations totaled $65.7 million, with free cash flow of $60.5 million. At March 31, 2017, Days Sales Outstanding (DSOs) were 69 and within the Company’s expected range. On February 28, 2017, MAXIMUS paid a quarterly cash dividend of $0.045 per share. On April 11, 2017, the Company announced a $0.045 per share cash dividend, payable on May 31, 2017 to shareholders of record on May 15, 2017. MAXIMUS is raising the bottom end of its fiscal 2017 earnings guidance and now expects GAAP diluted earnings per share to range between $3.00 and $3.10 for fiscal 2017. This compares to the Company's prior range of $2.90 to $3.10. MAXIMUS is reiterating its revenue guidance and continues to expect revenue to range between $2.425 billion and $2.475 billion for fiscal 2017. The Company is also reiterating its cash flow guidance and continues to expect cash flows from operations to range between $230 million and $280 million and free cash flow to range between $170 million and $220 million for fiscal 2017. The Company’s guidance does not include any future acquisitions or future legal expenses or recoveries. "We are pleased to be raising the lower end of our earnings guidance for fiscal year 2017 as a result of good performance and some expected tax benefits," commented MAXIMUS CEO Richard A. Montoni. "In addition, the extension of our contract with New York through 2020 is confirmation of our pledge to continue providing high-quality services to the state. During the quarter, we closed out contract year two of the U.K. Health Assessment Advisory Service. We successfully completed more than a million assessments in our second contract year, and we remain on track to achieve our financial and operational objectives for this program." MAXIMUS will host a conference call this morning, May 4, 2017, at 9:00 a.m. (ET). The call is open to the public and is available by webcast at http://investor.maximus.com or by phone at: For those unable to listen to the live call, a replay will be available through May 18, 2017. Callers can access the replay by calling: Since 1975, MAXIMUS has operated under its founding mission of Helping Government Serve the People®, enabling citizens around the globe to successfully engage with their governments at all levels and across a variety of health and human services programs. MAXIMUS delivers innovative business process management and technology solutions that contribute to improved outcomes for citizens and higher levels of productivity, accuracy, accountability and efficiency of government-sponsored programs. With more than 18,000 employees worldwide, MAXIMUS is a proud partner to government agencies in the United States, Australia, Canada, Saudi Arabia and the United Kingdom. For more information, visit maximus.com. We utilize non-GAAP measures where we believe it will assist the user of our financial statements in understanding our business. The presentation of these measures is meant to complement, and not replace, other financial measures in this document. The presentation of non-GAAP numbers is not meant to be considered in isolation, nor as alternatives to revenue growth, cash flows from operations or net income as measures of performance. These non-GAAP measures, as determined and presented by us, may not be comparable to related or similarly titled measures presented by other companies. In this press release, we use the non-GAAP measures of organic revenue growth, constant currency movement and free cash flow. A description of these measures, including a description of our use of these measures and our methodology for calculating them, is included in our most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission on November 21, 2016. We have included a reconciliation of free cash flow to cash flows from operations in this press release. Statements that are not historical facts, including statements about the Company’s confidence and strategies and the Company’s expectations about revenues, results of operations, profitability, future contracts, market opportunities, market demand or acceptance of the Company’s products are forward-looking statements that involve risks and uncertainties. These uncertainties could cause the Company’s actual results to differ materially from those indicated by such forward-looking statements and include reliance on government clients; risks associated with government contracting; risks involved in managing government projects; legislative changes and political developments; opposition from government unions; challenges resulting from growth; adverse publicity; and legal, economic, and other risks detailed in Exhibit 99.1 to the Company’s most recent Annual Report filed with the Securities and Exchange Commission, found on maximus.com.