|
|
|
|
India unveils prototype of $35 tablet computer (AP)AP - It looks like an iPad, only it's 1/14th the cost: India has unveiled the prototype of a $35 basic touchscreen tablet aimed at students, which it hopes to bring into production by 2011.Source: Yahoo! News: Technology News | 23 Jul 2010 | 4:19 am Microsoft fourth quarter boosted by Office, Windows sales - BusinessWeek
Source: Sci/Tech - Google News | 23 Jul 2010 | 4:06 am Darth Bank RobberA bank robber dressed as Darth Vader took ripped off a bank in Long Island on Thursday, armed with a semiautomatic (not a lightsaber -- fraud!). 'Darth Vader' Robs Bank on Long Island (Thanks, David!)...Source: RSS feed - channel BNBlogTech | 23 Jul 2010 | 4:01 am Darth Bank Robber A bank robber dressed as Darth Vader took ripped off a bank in Long Island on Thursday, armed with a semiautomatic (not a lightsaber -- fraud!). 'Darth Vader' Robs Bank on Long Island (Thanks, David!)
 Source: Boing Boing | 23 Jul 2010 | 4:01 am AT&T: Enterprise Loves the iPad [Digital Daily]
“One thing that’s been encouraging and a bit surprising so far is the level of interest from business customers,” Lindner said during the company’s earnings call Thursday. “… Right from the beginning with the iPad, we’ve had a number of our business customers express interest. A number of them have trials going on. … Businesses see the opportunity in many cases to use the iPad potentially in place of laptops for many of their people that travel.” That’s a very different reception than the one given the original iPhone, as Lindner noted. “When we first introduced the iPhone, the businesses — and in particular CIOs at the — of our business customers were reluctant, and they kind of pushed back on bringing the iPhone into their infrastructure,” he said. “And over time that’s — as you know, has changed dramatically, and now we have businesses that are developing applications and putting their own applications and content down on the iPhone base within their companies.” Lindner’s final take on the iPad’s performance to date: “So far it’s been very good.” I’ll say. AT&T says it activated 400,000 to 500,000 iPad 3Gs in the device’s first two months at market. Source: All Things Digital | 23 Jul 2010 | 4:00 am Faceplant Adds Missing Features to FaceTime
Unlike the most basic chat client, FaceTime has no list of online contacts, no way to leave a message for an offline user. Faceplant is an app (yet to be approved) and service which fixes this. It integrates with your contacts and checks to see if any of them also has Faceplant installed. If so, they show up in a list, and you can call them from there. If they’re offline, you can leave them a video “voice-mail” to be picked up later. These messages can be sent over 3G or Wi-Fi, and the recipient will get a pop-up notification when they receive it. This looks like a must-have app for iPhone 4 owners, but suffers from the same problem as any such application: As it isn’t built in, people will have to go out and install it. And if me-too versions start to appear in the App Store to confuse people, the necessary critical-mass will never be achieved. Faceplant [Faceplantapp via TUAW] See Also:
Follow us for real-time tech news: Charlie Sorrel and Gadget Lab on Twitter.. 
Source: Wired: Gadget Lab | 23 Jul 2010 | 3:50 am The Best Of The iPhone 4 Spoofs [Videos]Okay, after our last post on Darth Vader and the iPhone 4, we’re getting pinged way too fast with all the videos we left out but should have included. So behold: the best of the iPhone 4 videos. If you have any others you know of, be sure to let us know and we’ll throw them in here.
Information provided by CrunchBase      
Source: TechCrunch | 23 Jul 2010 | 3:50 am Vodafone says revenues resumed growing in Q1 (AP)AP - Vodafone Group PLC, the world's largest mobile telephone company, said Friday that revenues grew nearly 1 percent on a comparable basis in its first quarter, the first period of growth since the recession hit.Source: Yahoo! News: Technology News | 23 Jul 2010 | 3:44 am Taiwan, Japan to develop broadband technologies (AP)AP - Three big Japanese corporations may join Taiwan in developing cutting-edge broadband technologies that will allow them to jointly tap China's vast telecommunications market, an official said Friday.Source: Yahoo! News: Technology News | 23 Jul 2010 | 3:42 am Facebook CEO Zuckerberg to guest star on 'The Simpsons' - Los Angeles Times
Source: Sci/Tech - Google News | 23 Jul 2010 | 3:22 am Darth Vader Calls Apple About His iPhone 4 Antenna [Video]
The Taiwanese video features Bill Gates (or some other Microsoft guy) as Darth Vader. Vader also plays a pivotal role in new video today by Russell Arch. No, it’s not as good as the Taiwanese one (nor the iPhone vs. EVO videos), but it’s still pretty funny. It starts off slow, but it gets good at the end. The choice lines:
See also: The Best Of The iPhone 4 Spoofs
Information provided by CrunchBase      
Source: TechCrunch | 23 Jul 2010 | 3:21 am YouTube Play jury selected and ready to view your work(Cross-posted from the YouTube Blog) Today, we’re unveiling the jury for YouTube Play, which includes some of the world’s leading artists, from international film festival winners and renowned photographers to performance and video artists on the cutting edge of art. YouTube Play jurors include musician and performance artist Laurie Anderson; musical group Animal Collective; visual artists Douglas Gordon, Ryan McGinley, Marilyn Minter and Takashi Murakami; artists and filmmakers Shirin Neshat, Apichatpong Weerasethakul and Darren Aronofsky; and graphic designer Stefan Sagmeister, with Guggenheim Chief Curator and Deputy Director Nancy Spector serving as jury chairperson. Over the course of the next few months, these jurors will watch countless hours of videos submitted by the international YouTube community and select the most creative and inspiring work to showcase at the Guggenheim museums in October. Already, this campaign has drawn some remarkable talent, and we’re looking forward to seeing more of your submissions in our quest to find the most creative video art in the world and showcase it alongside van Gogh and Picasso. The deadline for getting your videos in is July 31. For more information about the jurors and to learn more about how to participate, check out youtube.com/play. Posted by Ed Sanders, Senior Marketing Manager    
 Source: The Official Google Blog | 23 Jul 2010 | 3:00 am Buckyballs Detected In SpaceRhodin writes "Fullerenes, also known as buckminsterfullerenes or 'buckyballs,' were detected about 6,500 light years from Earth in the cosmic dust of Tc 1 (PDF; abstract), an object known as a planetary nebula. 'We found what are now the largest molecules known to exist in space,' said astronomer Jan Cami of the University of Western Ontario, Canada, and the SETI Institute in Mountain View, Calif. 'We are particularly excited because they have unique properties that make them important players for all sorts of physical and chemical processes going on in space.'" (More, below.)
Read more of this story at Slashdot.
Source: Slashdot | 23 Jul 2010 | 2:54 am TABLE-Kainos -6-month parent forecastPARENT-ONLY EARNINGS ESTIMATES (in billions of yen unless specified)Source: RSS feed - channel BNewsTech | 23 Jul 2010 | 2:15 am TABLE-Kainos -2010/11 parent forecastPARENT-ONLY EARNINGS ESTIMATES (in billions of yen unless specified)Source: RSS feed - channel BNewsTech | 23 Jul 2010 | 2:15 am New World Cinema: What Do You Think of *TRON Legacy*?TRON Legacy, upcoming sequel of the 80's geek classic starring Jeff Bridges, which did a lot to introduce the concept of virtual worlds to a mass audience, has a new trailer: I bet the original has a lot...Source: RSS feed - channel BNBlogTech | 23 Jul 2010 | 2:03 am New Customer LG Display Won in Korea by Innovation Framework Technologies, Planisware PartnerNEW YORK, July 23 /PRNewswire/ -- Innovation Framework Technologies, the premier supplier of innovation management solutions, announces a new joint customer with its partner, Planisware, the leading provider of world-class project and portfolio management (PPM) solutions for companies across myriad industries - including pharmaceutical, biotechnology, medical device, energy, aerospace and defense and automotive. The Korean electronics company LG Display selected IFT's NPD solution, based on Planisware, for supporting its entire R&D management process. This new customer is testament to the strength of the Innovation Framework Technologies (IFT) and Planisware relationship, launched over three years ago. IFT, formed by the historic executive team of Artemis - a once arch-competitor of Planisware - and particularly present in the High-Tech industry, selected Planisware's technology to start their new company Innovation Framework Technologies (IFT) in 2006. For Patrick Ternier, CEO of IFT, said: "We could have gone for any platform in the market, given our experience, background and reputation, but after a comprehensive analysis of the available software, we found that Planisware's technology was by far the best choice." IFT provides a configured solution of Planisware based on its own vision of "innovation excellence" for hi-tech industries, combining software, practices and processes from best-in-class research such as the work of Innovation Gurus like Drs Cooper and Edgett with which IFT has historic ties. IFT and Planisware's approach to the expanding "innovation" market are thus deeply complementary with capabilities and practices that can address a very large range of customers' requirements. Thanks to this approach, IFT has been able to successfully gain new customers in the US, Europe Korea and Japan, and also works collaboratively with Planisware to secure high-profile reference clients in these markets. "I believe that in the market today, the complementary approaches Planisware and IFT have been developing since the partnership inception makes both our solutions in the forefront of PPM excellence and a must look for any company willing to bring its innovation processes to the next level," adds Pierre Demonsant, CEO of Planisware. IFT and Planisware are planning to increase further their global presence in new countries as well as expand existing joint sales and marketing operations. The ongoing partnership is instrumental to IFT and Planisware future growth in these regions. About Innovation Framework Technologies: Innovation Framework Technologies helps companies dramatically improve their innovation performance by implementing management software that delivers best-practice business processes for the complete innovation and new product development value chain: idea management, strategic and technology roadmapping, portfolio management, resource capacity planning, innovation opportunity analysis, Stage-Gate(TM) governance and project management. With headquarters in New York and Paris, and offices in Seoul and Tokyo, IFT operates throughout America, Europe, Asia and the Middle East. Please visit: www.innovation-framework.com About Planisware(TM): Planisware is the leading global provider of world-class project & portfolio management solutions. Planisware's acclaimed configurability accommodates the company's global customers across a variety of industries - including pharmaceutical, medical device, biotechnology, energy, aerospace and defense, automotive, and high-tech - and empowers users to align the solution with key business programs and portfolio management processes. With more than 150,000 users worldwide and a 99% customer retention rate, Planisware has been recognized as an industry leader by several esteemed analysts, as well as has achieved Stage-Gate Ready(TM) and SAP® integration certifications. *(LOGO 72dpi: Send2Press.com/mediaboom/10-0723-innovframe_72dpi.jpg) This release was issued on behalf of the above organization by Send2Press(R), a unit of Neotrope(R). http://www.Send2Press.com SOURCE Innovation Framework TechnologiesSource: RedOrbit News - Technology | 23 Jul 2010 | 2:00 am The Lives Our Mothers Leave Us, a book about mother-daughter relationshipsIn between blogging and exercising this summer, I've been reading chapters from a book called The Lives Our Mothers Leave Us by Patti Davis, who is the daughter of Ronald and Nancy Reagan. The book is...Source: RSS feed - channel BNBlogTech | 23 Jul 2010 | 1:55 am The Lives Our Mothers Leave Us, a book about mother-daughter relationships In between blogging and exercising this summer, I've been reading chapters from a book called The Lives Our Mothers Leave Us by Patti Davis, who is the daughter of Ronald and Nancy Reagan. The book is based on the idea that mothers and daughters are inextricably linked and that, around the age of 40, most daughters come full circle in accepting the parts of themselves that were formed by their moms. She explores this realization through the stories of two dozen women, mostly actors and authors, including Whoopi Goldberg, Alice Hoffman, Judy Garland's daughter Lorna Luft, and Anna Quindlen.
As daughters, we bounce off our mothers in ways that are both mysterious and ancient. Even in anger — maybe especially then — we're tethered to them. My mother and I have never been mild with one another. Whether we were miles apart and blaming each other or strongly and lovingly bonded together, our emotions burned up the color chart. Nothing was ever gray. It's not the most well-written book in the world, but I have found these anecdotes of how these famous daughters dealt with their mothers' imperfections to be helpful benchmarks in observing my own relationship with my mother. Davis is neither preachy nor pedantic; she's simply giving us vignettes from different women's lives, and I like that.
The Lives Our Mothers Leave Us Cheers and jeers for Apple at iPad's second Asia launch (AFP)
Source: Yahoo! News: Technology News | 23 Jul 2010 | 1:53 am UPDATE 2-Vodafone returns to organic service revenue growthLONDON, July 23 (Reuters) - Vodafone , the world's largest mobile operator by sales, has returned to growth for the first time since the economic downturn hit due to improvements in Germany, Britain and...Source: RSS feed - channel BNewsTech | 23 Jul 2010 | 1:45 am Graphene Oxide Gets GreenRice researchers show environmentally friendly ways to make it in bulk, break it down"We can make you and we can break you." If Rice University scientists wrote country songs, their ode to graphene oxide would start something like that. But this song wouldn't break anybody's heart.A new paper from the lab of Rice chemist James Tour demonstrates an environmentally friendly way to make bulk quantities of graphene oxide (GO), an insulating version of single-atom-thick graphene expected to find use in all kinds of material and electronic applications.A second paper from Tour and Andreas Lüttge, a Rice professor of Earth science and chemistry, shows how GO is broken down by common bacteria that leave behind only harmless, natural graphite.The one-two punch appears online this week in the journal ACS Nano."These are the pillars that make graphene oxide production practical," said Tour, Rice's T.T. and W.F. Chao Chair in Chemistry as well as a professor of mechanical engineering and materials science and of computer science. The GO manufacturing process was developed as part of a research project with M-I SWACO, a Houston-based producer of drilling fluids for the petrochemical industry that hopes to use graphene to improve the productivity of wells. (Read about that here.)Scientists have been making GO since the 19th century, but the new process eliminates a significant stumbling block to bulk production, Tour said. "People were using potassium chlorate or sodium nitrates that release toxic gases – one of which, chlorine dioxide, is explosive," he said. "Manufacturers are always reluctant to go to a large scale with any process that generates explosive intermediates."Tour and his colleagues used a process similar to the one they employed to unzip multiwalled nanotubes into graphene nanoribbons, as described in a Nature paper last year. They process flakes of graphite – pencil lead – with potassium permanganate, sulfuric acid and phosphoric acid, all common, inexpensive chemicals."Many companies have started to make graphene and graphene oxide, and I think they're going to be very hard pressed to come up with a cheaper procedure that's this efficient and as safe and environmentally friendly," Tour said.The researchers suggested the water-soluble product could find use in polymers, ceramics and metals, as thin films for electronics, as drug-delivery devices and for hydrogen storage, as well as for oil and gas recovery.Though GO is a natural insulator, it could be chemically reduced to a conductor or semiconductor, though not without defects, Tour said.With so many potential paths into the environment, the fate of GO nanomaterials concerned Tour, who sought the advice of Rice colleague Lüttge.Lüttge and Everett Salas, a postdoctoral researcher in his lab and primary author of the second paper, had already been studying the effects of bacteria on carbon, so it was simple to shift their attention to GO. They found bacteria from the genus Shewanella easily convert GO to harmless graphene. The graphene then stacks itself into graphite."That's a big plus for green nano, because these ubiquitous bacteria are quickly converting GO into an environmentally benign mineral," Tour said.Essentially, Salas said, Shewanella have figured out how to "breathe" solid metal oxides. "These bacteria have turned themselves inside out. When we breathe oxygen, the reactions happen inside our cells. These microbes have taken those components and put them on the outside of their cells."It is this capability that allows them to reduce GO to graphene. "It's a mechanism we don't understand completely because we didn't know it was possible until a few months ago," he said of the process as it relates to GO.The best news of all, Lüttge said, is that these metal-reducing bacteria "are found pretty much everywhere, so there will be no need to 'inoculate' the environment with them," he said. "These bacteria have been isolated from every imaginable environment – lakes, the sea floor, river mud, the open ocean, oil brines and even uranium mines."He said the microbes also turn iron, chromium, uranium and arsenic compounds into "mostly benign" minerals. "Because of this, they're playing a major role in efforts to develop bacteria-based bioremediation technologies."Lüttge expects the discovery will lead to other practical technologies. His lab is investigating the interaction between bacteria and graphite electrodes to develop microbe-powered fuel cells, in collaboration with the Air Force Office of Scientific Research and its Multidisciplinary University Research Initiative (MURI). ---On the Net:Rice UniversitySource: RedOrbit News - Science | 23 Jul 2010 | 1:41 am Customers Less Tolerant Of Employee Rudeness Than IncompetenceStudy shows that incivility isn't tolerated -- even when the employee is being reprimanded for poor customer serviceRude behavior among employees can negatively affect consumer perceptions -- even when the incivility isn't directed at the customer, reveals new research from the University of Southern California Marshall School of Business.Across a range of industries, including restaurants, banks, government offices, retail stores and universities, consumers frequently report seeing employees behaving badly toward other employees, including derogatory comments or inappropriate gestures."These findings underscore the need for organizations to promote employee civility," said Deborah MacInnis, Professor of Business Administration at the USC Marshall School of Business and Vice Dean for Research and Strategy. "Training employees to treat one another well enhances the bottom line because of its impact on customer behavior."Across four studies appearing the August 2010 issue of the Journal of Consumer Research, MacInnis and co-authors Christine Porath, former Assistant Professor of Management and Organization at USC Marshall and Assistant Professor of Management at Georgetown University, and Valerie Folkes, USC Associates Chair in Business Administration and Professor of Marketing at USC Marshall, examined how consumers witnessing acts of employee incivility may extend their experiences to more general feelings about the company.They found that people witnessing employee incivility -- in this case, a store manager calling an employee an "idiot" -- were faster to jump to negative conclusions about the company than those who witnessed employee incompetence.Surprisingly, the researchers found that customers turned against the company even in instances when the rude employee was trying to help the customer. In one of the studies, people who had to wait several minutes as an employee gossiped on the phone still formed negative impressions of the company when the employee was reprimanded rudely by another employee in front of them."Whereas one might anticipate that incivility directed at consumers has extremely negative effect, we show that consumers are also negatively affected when they are mere observers of incivility between employees," the authors write.The authors suggest ways for corporations to promote employee civility: "Several methods include selecting for and training in civility, setting zero-tolerance expectations and reprimanding incivility before it festers."---On the Net:University of Southern CaliforniaJournal of Consumer ResearchSource: RedOrbit News - Science | 23 Jul 2010 | 1:35 am Defence firm launches iPhone for missile trainingThe Patriot anti-missile system now has its own iPhone app, developed by US defence firm Raytheon. The BBC reports. Patriot Crew Drill is a multiple-choice game, designed as a refresher tool for missile...Source: RSS feed - channel BNBlogTech | 23 Jul 2010 | 1:14 am Digital Distribution Numbers Speak To Health of PC Game IndustryAn anonymous reader writes with this quote from PC Authority: "Over the years many voices have declared PC gaming dead. We have seen developers abandon the platform for consoles, citing piracy as the cause. Game stores have slowly relegated PC games from prime shelf position to one tucked away in the back corner — even Microsoft dumped AAA PC game developers from the company. It seems, though, that the demise of the PC as a games platform has been exaggerated, because until very recently sales data ignored digital distribution, with the latest data released by US company NPD revealing that 48% of PC unit sales in the US in 2009 were digital. That translates to 21.3 million games downloaded in the US. Interestingly, although 48% of games were sold online, it only worked out as 36% of the revenue. This highlights the fact that it isn't just convenience that has PC gamers shopping online; it is also that games are generally cheaper than in stores."
Read more of this story at Slashdot.
Source: Slashdot | 23 Jul 2010 | 1:14 am BP accused of trying to silence science on spillThe head of the American Association of Professors accused BP Friday of trying to buy the silence of scientists and academics to protect itself after the Gulf oil spill, in a BBC interview.Source: RSS feed - channel BNewsTech | 23 Jul 2010 | 1:12 am Pharma Foods Int'l -2009/10 parentPARENT-ONLY EARNINGS ESTIMATES (in billions of yen unless specified)Source: RSS feed - channel BNewsTech | 23 Jul 2010 | 1:10 am Facebook Customers Can't Get No Satisfaction on PCW Podcast #86 (PC World)PC World - The PCWorld Podcast is back to tickle your tympanic membranes with talk of the latest Facebook customer satisfaction survey, the new Dell Streak and Fall camera announcements.Source: Yahoo! News: Technology News | 23 Jul 2010 | 1:08 am Algorithms Aren't Evil [Voices]By Jason Fry, Blogger, Reinventing the Newsroom Recently I’ve been quoted a fair amount about Demand Media and other so-called content farms, and come to accept that my initial description of Demand Media as “how our profession ends” will follow me around forever. (The Web is the end of forgetting, after all.) My views of content farms and what they do has become more nuanced since then, but so be it — I wrote it, after all. Read the rest of this post on the original site Source: All Things Digital | 23 Jul 2010 | 1:04 am The Ever-Arrogant Apple [Voices]By Ken Segall, Blogger, Ken Segall’s Observatory Following the Antennagate news conference, certain critics quickly concluded that Apple was acting like its usual arrogant self. I couldn’t agree more. How dare Apple think they can make this problem go away with a free case that makes the problem go away. Read the rest of this post on the original site Source: All Things Digital | 23 Jul 2010 | 1:03 am Why Editing Could Make a Comeback [Voices]By Alexis Madrigal, Senior Editor, The Atlantic There was a time, say around 1985, when Americans discovered “desktop publishing.” Suddenly, *anyone* could make a newsletter or a flyer. And boy, did they, in MacPublisher and Pagemaker and a host of less illustrious products. Read the rest of this post on the original site Source: All Things Digital | 23 Jul 2010 | 1:02 am Stop! Restricted Site! With No Facebook or G-Chat at Work, It’s All Hands on Deck For the City’s Ruling Class [Voices]By Leon Neyfakh, Writer, New York Observer One morning not long ago, a team of analysts at a major New York bank walked into work and found their lives turned upside down. The IT department had set up Web-browsing restrictions on all of their computers. Suddenly the young financiers could not access their personal email accounts. Suddenly they could not G-chat. Read the rest of this post on the original site Source: All Things Digital | 23 Jul 2010 | 1:01 am Surprised By Apple iPad, Forrester To Increase Tablet Forecast [Voices]By Eric Savitz, Blogger and Columnist, Barron’s, Tech Trader Daily To reflect the strong sales of the Apple (AAPL) iPad, the market research firm Forrester plans to revise upward its old forecast for the tablet computer market. In a blog post, analyst Sarah Rotman Epps writes that the iPad is “defying common assumptions about consumer technology adoption.” Epps notes that in her original forecast for the tablet market, published in June, she predicted U.S. consumers would buy 3.5 million tablets in 2010 and 8.4 million in 2011 – and that 59 million Americans would own one by 2015. While Apple said it sold 3.27 million iPads in the June quarter, Epps notes that her forecast includes only the U.S., while Apple is selling the device in multiple markets. Read the rest of this post on the original site Source: All Things Digital | 23 Jul 2010 | 1:00 am Tim O'Reilly Says You Should Give Up Some Privacy to Help Save the World [Voices]By Marshall Kirkpatrick, Vice President of Content Development, ReadWriteWeb Tim O’Reilly was recently at the US Department of Health and Human Services (DHS), talking about the kinds of things that could be done “if we could use medicare data like Google uses clickstream data.” The response was a very cautious one. Read the rest of this post on the original site Source: All Things Digital | 23 Jul 2010 | 1:00 am UPDATE 1-Salamander shifts drilling after dry Vietnam wellsLONDON, July 23 (Reuters) - Asia-focused oil and gas company Salamander Energy will shift its drilling campaign from the Vinh Chau basin after a second well it drilled there also proved dry.Source: RSS feed - channel BNewsTech | 23 Jul 2010 | 12:40 am HTC CEO Peter Chou at D8: The Full, Uncut Video [D8 Conference]
As promised, All Things Digital is posting the full videos from our eighth D: All Things Digital conference, held in early June. Here’s Walt Mossberg’s interview with HTC CEO Peter Chou, who heads the Taiwan-based smartphone maker. As Digital Daily’s John Paczkowski wrote in June: “Over the past few years, Chou has transformed HTC from a contract handset manufacturer into a smartphone powerhouse, a company that ranks behind only Nokia (NOK), Research in Motion (RIMM) and Apple (AAPL) in global smartphone shipments. That’s quite an achievement and one attributable to the very early, savvy bet Chou made on Google’s (GOOG) Android mobile operating system. But that same bet has gotten HTC into trouble as well, most notably a high-profile lawsuit from Apple alleging that a number of HTC’s Android devices infringe patents related to the iPhone’s graphical user interface, underlying architecture and hardware.” Oh, that…which is all discussed in the full video of the D8 interview session with Chou. [ See post to watch video ] Want to see it bigger? Click here. Note: We’ll be posting full D8 videos on Mondays and Thursdays. Next up: Ford (F) CEO Alan Mulally. Source: All Things Digital | 23 Jul 2010 | 12:26 am Unique coral reef spurs Mexico tourism battleA 20,000 year-old coral reef, the only one in the Gulf of California, is at the center of a dispute over a huge tourist development which could draw thousands to a remote part of Mexico.Source: RSS feed - channel BNewsTech | 23 Jul 2010 | 12:24 am HP Wants To Become Apple. WebOS Is The Key
Based on what we’re hearing, HP has been having similarly themed meetings in recent months. They want to transform themselves — from HP, the successful tech juggernaut, into Apple, the sexy one. When you think of HP, what do you think of? For most consumers it’s either printers and sort of crappy, cheap computers that you get at Best Buy. But that’s not what HP aspires to be anymore, sources familiar with HP’s thinking are telling us. They want to be Apple. They want be the makers of high-quality consumer gadgets all connected by way of a digital ecosystem. An ecosystem they own and operate. One tied together by webOS. While it should hardly be surprising to hear that any company wants to be Apple given that company’s recent success, HP is one of a very few — and actually maybe the only company with the required assets to potentially pull off such a makeover. Of course, that doesn’t mean they’ll be able to — but it’s possible. And they know that, and that’s exactly what their strategy is going forward, apparently. On the face of it, it may not seem to make a lot of sense. After all, HP makes nearly double the revenue that Apple does each quarter. But despite this, it’s Apple that actually makes more profit. And it’s Apple that has more than double the market cap of HP. In the eyes of investors, Apple is the up-and-coming rockstar, HP is the aging one. And they’re closely tied to their counterpart, Microsoft, who is also seen as aging. And that’s what HP is trying to break away from. WebOS is the key to all of this. It’s the software layer that HP’s hardware has been lacking — forcing them to go with Microsoft instead. But the Palm acquisition in April changed all of that. From the moment that happened, HP has made no secret that the reason for the deal was to “double-down” on webOS. Just listen to what HP executive Todd Bradley had to say today at the Fortune Brainstorm Tech conference in Aspen, CO. “I think you’ll see us with a family of slate products, clearly Microsoft for the enterprise, and a webOS product,” Bradley said. “Our focus is working with still our largest software partner, Microsoft, to create a tablet, a slate, for the enterprise business,” he continued. What he’s doing there is carefully positioning HP’s relationship with Microsoft on new products going forward as being focused on the enterprise side of things. Previously, it was stated HP would do a Windows-powered slate for consumers. That is no longer the case. That tablet will be built to run webOS. Does that mean HP is going to ditch Windows altogether anytime soon? Of course not. As the largest maker of PCs, HP is Microsoft’s largest customer. But for the new products HP is planning, it’s going to be all webOS. And on the desktop side of things, they’re working on webOS-syncing software that will run on Windows (and Macs), we hear. So again, they’re basically trying to recreate the ecosystem that Apple has. HP executive Jon Rubinstein (the CEO of Palm) also confirmed at the same event today that webOS 2.0 is coming later this year. This new version is likely to be the first one that will start to tie all of these HP products together.
Speaking of Rubinstein, his pedigree here can’t be overlooked. He was the executive at Apple in charge of the iPod until he left in 2006. He’s the one who oversaw the framework for the ecosystem Apple has in place today. There was some talk leading up to the Palm acquisition if Rubinstein would stay or go — he’s apparently onboard with this new “let’s turn HP into Apple” idea. That shouldn’t be surprising given that this was the basic strategy at Palm with the Pre. But Palm failed simply because they didn’t have the resources to do what they wanted to do (challenge Apple’s iPhone directly). HP does — and then some. And while HP is not a player in the mobile space right now, they plan to be once again with webOS. From what we’re hearing, HP wants to create a seamless experience for all of their hardware. That’s PCs to notebooks to netbooks to tablets to mobile phones to printers. And they want to do so with a much more controlled product line than they’ve previously had. They want to move towards more premium products, ones with higher margins. That will make the profits go up, just as it has with Apple. Of course, whether or not HP can make any of this happen is a pretty big “if.” One obvious problem with them being Apple is that they don’t have their own retail stores, like Apple does. HPs are sold everywhere from Best Buy to Costco, but those stores tend to attract people looking for bargains. And those that aren’t, buy Macs there. Second, HP’s strategy in mobile phones will meet resistance not only from the iPhone, but from Google’s Android phones. But Google appears to be positioning Android as the sort-of Windows of the smartphone era. That is, they’re all about getting their software as widely distributed as possible. Like Microsoft with PCs, Google don’t make their own hardware for Android (though they had a hand in designing the Nexus One, which is all but dead now). HP would be making its own hardware to run webOS. Again, like Apple. Android also poses a potential threat in the tablet field. But again, Google won’t be making this hardware. As I said at the beginning, because HP is a hardware maker that just happened to purchase a great piece of software in webOS, they have a shot at pulling off what Apple has. Whereas most other rivals, even Google, cannot. Android may be ubiquitous by this time next year, but the experience won’t be as seamless as it is within Apple’s ecosystem. And, HP hopes, their ecosystem. As Apple has proven, people are willing to pay a premium for that. This is HP’s big bet on the future. They’re betting on the Apple way. And that’s the right way for them to bet because they’re a hardware company. With a shift towards mobile starting to take place, as well as new products like tablets starting to rise, HP seems smart to get ahead of this trend. They’re not Microsoft or Google where profits are in licenses and advertising, respectively. With the webOS buy, they’re much closer to Apple. The profits there are in premium products, buoyed by the seamless ecosystem. That’s where HP is heading. [images: AMC]      
Source: TechCrunch | 23 Jul 2010 | 12:19 am India develops world's cheapest "laptop" at $35 (Reuters)Reuters - India has come up with the world's cheapest "laptop," a touch-screen computing device that costs $35.Source: Yahoo! News: Technology News | 23 Jul 2010 | 12:08 am India develops world's cheapest "laptop" at $35NEW DELHI (Reuters) - India has come up with the world's cheapest "laptop," a touch-screen computing device that costs $35.Source: RSS feed - channel BNewsTech | 23 Jul 2010 | 12:08 am World's First Molten-Salt Solar Plant OpensAn anonymous reader writes "Sicily has just announced the opening of the world's first concentrated solar power (CSP) facility that uses molten salt as a heat collection medium. Since molten salt is able to reach very high temperatures (over 1000 degrees Fahrenheit) and can hold more heat than the synthetic oil used in other CSP plants, the plant is able to continue to produce electricity long after the sun has gone down. The Archimede plant has a capacity of 5 megawatts with a field of 30,000 square meters of mirrors and more than 3 miles of heat collecting piping for the molten salt. The cost for this initial plant was around 60 million Euros."
Read more of this story at Slashdot.
Source: Slashdot | 22 Jul 2010 | 11:49 pm New Disney Haunted Mansion movie to be produced by Guillermo del ToroHere's an exciting announcement -- Disney is making a feature film based on the Haunted Mansion, the greatest dark-ride ever conceived, to be directed written and produced by Guillermo del Toro. This...Source: RSS feed - channel BNBlogTech | 22 Jul 2010 | 11:40 pm New Disney Haunted Mansion movie to be produced by Guillermo del Toro Here's an exciting announcement -- Disney is making a feature film based on the Haunted Mansion, the greatest dark-ride ever conceived, to be Yes, I want to believe. Oh please, oh please, oh please, make a movie as kick-ass as the ride. Haunted Mansion Inspires New Movie by The Walt Disney Studios and Guillermo del Toro Source: Boing Boing | 22 Jul 2010 | 11:40 pm Australian government blocks out 90% of document on web-spying plansAustralia's web-censors have outdone themselves. After Stephen Conroy (the Australian minister notorious for proposing the Great Firewall of Australia) promised greater transparency in his government's efforts to regulate the Internet, they replied to a Freedom of Information request on plans to monitor Australians' internet traffic with a document that was 90 percent blacked out:(Thanks, Itsumishi!)
Source: Boing Boing | 22 Jul 2010 | 11:35 pm Australian government blocks out 90% of document on web-spying plansAustralia's web-censors have outdone themselves. After Stephen Conroy (the Australian minister notorious for proposing the Great Firewall of Australia) promised greater transparency in his government's...Source: RSS feed - channel BNBlogTech | 22 Jul 2010 | 11:35 pm Projection Scale Also Has A 550lb CapacityWhen I first saw a photo of this scale with a built-in projector I was going to joke that it was the perfect bathroom accessory for the morbidly obese who weren’t able to see the readout on a conventional...Source: RSS feed - channel BNBlogTech | 22 Jul 2010 | 11:30 pm Can you audit the software that goes in your body?The Software Freedom Law Center's latest white-paper, "Killed by Code: Software Transparency in Implantable Medical Devices," examines the strange circumstances around pacemakers and other implanted medical devices. Regulators like the FDA inspect the hardware designs for these devices in great detail, but the crucial software that runs the devices is a closed book -- a proprietary secret that's only ever called in for examination when the devices start to crash, with disastrous circumstances.Killed by Code: Software Transparency in Implantable Medical Devices (via /.)
(Image: Medtronic EnRhythm Pacing System, a Creative Commons Attribution (2.0) image from winton's photostream)
Can you audit the software that goes in your body?The Software Freedom Law Center's latest white-paper, "Killed by Code: Software Transparency in Implantable Medical Devices," examines the strange circumstances around pacemakers and other implanted medical...Source: RSS feed - channel BNBlogTech | 22 Jul 2010 | 11:27 pm Sealing tape that looks like hingesMmiinn's XTape is clear adhesive tape printed with trompe-l'il hinges, to make it appear that your boxes are sealed with brass hardware. They ship next autumn. XTape (via Super Punch) This is Spinal...Source: RSS feed - channel BNBlogTech | 22 Jul 2010 | 11:18 pm Sealing tape that looks like hinges Mmiinn's XTape is clear adhesive tape printed with trompe-l'œil hinges, to make it appear that your boxes are sealed with brass hardware. They ship next autumn. XTape (via Super Punch) Source: Boing Boing | 22 Jul 2010 | 11:18 pm MACH ART Paradox Reverse Flowing Hourglass Just Might Turn Back TimeBy Andrew Liszewski You can file this one under desk crap, but as desk crap goes, it’s a rather clever combination of an hourglass ’sand’ timer and those immiscible liquid devices. Instead...Source: RSS feed - channel BNBlogTech | 22 Jul 2010 | 11:17 pm Wikileaks: the dramatic balletJohannes Grenzfurthner from Austrian mad arts collective Monochrom closed out this year's HOPE conference in NYC with a dramatic presentation about, um, Wikileaks. And unicorns. monochrom: "Wikileaks: The Ballet" (feat. Unicorns) @ The Next HOPE Conference Source: Boing Boing | 22 Jul 2010 | 11:05 pm AT&T Profit Up 26%;Contract Subscriber Growth Slows - Wall Street Journal
Source: Sci/Tech - Google News | 22 Jul 2010 | 10:52 pm Apple Automatically Refunding iPhone 4 Bumper Purchases (Mashable)Mashable - Have you bought an iPhone 4 bumper case? It's time to get your money back, as Apple has started automatically processing refunds for customers who bought the bumper cases via online Apple Store.Source: Yahoo! News: Technology News | 22 Jul 2010 | 10:47 pm Wipro profit up 31 pct to $284M on strong demand (AP)AP - Indian software services firm Wipro Ltd. said quarterly profit jumped 31 percent to 13.19 billion rupees ($284 million), beating expectations, as India's No. 3 outsourcer ramped up staffing to meet strong global demand.Source: Yahoo! News: Technology News | 22 Jul 2010 | 10:42 pm Halo: Reach Forge World - GamePro.com
Source: Sci/Tech - Google News | 22 Jul 2010 | 10:26 pm TABLE-India's Biocon June qtr consol net up 33 pct, lags f'cast(Versus the same period a year earlier, in million rupees unless stated)Source: RSS feed - channel BNewsTech | 22 Jul 2010 | 10:06 pm July 23, 1996: Stand By ... HDTV Is on the AirNorth Carolina's WRAL-HD becomes the first U.S. television station to broadcast a high-definition signal.
Source: Wired Top Stories | 22 Jul 2010 | 10:00 pm Time, Life and Mad Men They don't call The New York Times "The Gray Lady" for nothing, and it isn't like the Gray Lady to shill for a television show. That said, the paper's "Mad Men City" series is a swell look back at the New York City of the early-to-mid '60s, timed to coincide with this weekend's Season 4 premiere of AMC's "Mad Men." (Okay, so technically it's under the umbrella of the paper's "City Room" blog.) Today's installment has it all, nostalgically speaking: A black-and-white print ad from the venerable Benton & Bowles shop for the now-defunct Eastern Airlines, with copy referring to a woman as a "pretty chick." Other entries have focused on the East Side eatery Jimmy's La Grange -- a place so fantastically specific that you had to eat what Jimmy ordered for you, and it was usually Chicken Kiev -- and the ultra-swanky Time & Life Building. For you kids, Life was a magazine. Time still is. But it's hard not to read the name as a commentary on how swiftly time passes in a place like New York, and how thoroughly it effaces what's gone before.
Source: Boing Boing | 22 Jul 2010 | 9:55 pm Here’s the latest Tron Legacy trailer and you must watch itPrediction: Tron Legacy will be the best sci-fi movie of 2010 that doesn’t rhyme with preception.
Source: CrunchGear | 22 Jul 2010 | 9:48 pm Wipro Records 31% YoY Growth in Profit After Tax in Q1 FY11BANGALORE, India and EAST BRUNSWICK, N.J., July 22 /PRNewswire-FirstCall/ -- Wipro Limited (NYSE: WIT) today announced financial results under International Financial Reporting Standards (IFRS) for its first fiscal quarter ended June 30, 2010. Highlights of the Results: Results for the Quarter ended June 30, 2010 IT Services Revenue on a Non-GAAP constant currency was $1,218 million, with a sequential increase of 4.4%. On a YoY basis, the increase in IT Services Revenue on a Non-GAAP constant currency basis was 16.6%.Total Revenues were 72.36 billion ($1.56 billion(1)), representing an increase of 16% over the same period last year.IT Services Revenue in dollar terms was $1,204 million, a sequential increase of 3.2% and YoY increase of 16.6%.Net Income was 13.19 billion ($284 million(1)), representing an increase of 31% over the same period last year.Non-GAAP Adjusted Net Income (excluding impact of accelerated amortization of stock based compensation) was 13.06 billion ($281 million(1)), representing an increase of 30% over the same period last year. IT Services Revenues were 55.00 billion ($1,185 million(1)), representing an increase of 14% over the same period last year.IT Services Earnings Before Interest and Tax (EBIT) was 13.5 billion ($291 million(1)), representing an increase of 26% over the same period last year.IT Services added 22 new clients in the quarter.Net addition of 4,854 employees in the current quarter.IT Products recorded a 13% growth in Revenues over the same period last year. Consumer Care and Lighting Revenue grew 23% over the same period last year and EBIT grew 11%Performance for the quarter ended June 30, 2010 and Outlook for the quarter ending September 30, 2010 Azim Premji Chairman of Wipro, commenting on the results said - "We are seeing strong demand environment across our industry verticals despite macro challenges. We added the highest number of billable employees ever, in this quarter. Our guidance reflects this momentum - for the quarter ended September 30, 2010, we expect revenues from our IT Services business to be in the range of $1,253 million to $1,277 million, a sequential increase of 4.1% to 6.1%*" Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro, said - "We delivered ahead of the top end of our guidance in constant currency with a sequential growth of 4.4% and saw yet another quarter of margin expansion with a 30 basis points increase despite the head winds of wage increase and a decline in price realization. We have also given Restricted Stock Units and progressions effective July 1, 2010." * Guidance is based on the following constant currency exchange rates: GBP/USD at 1.48, Euro/USD at 1.27, AUD/USD at 0.87, USD/INR at 45.68 Wipro Limited Total Revenue for the quarter ended June 30, 2010 was 72.36 billion ($1.56 billion(1)), representing an increase of 16% over the same period last year. Net Income for the quarter ended June 30, 2010 was 13.19 billion ($284 million(1)), representing an increase of 31% over the same period last year. Non-GAAP Adjusted Net Income (excluding impact of accelerated amortization of stock based compensation) for the quarter ended June 30, 2010 was 13.06 billion ($281 million(1)), representing an increase of 30% over the same period last year. Earnings Per Share for the quarter ended June 30, 2010 were 5.42 ($0.12(1)). Non-GAAP Adjusted Earnings Per Share (excluding the impact of accelerated amortization of stock based compensation) for the quarter ended June 30, 2010 were 5.37 ($0.12(1)), representing an increase of 29% over the same period last year. Please see the table on page 8 for a reconciliation between (i) IFRS Net Income and non-GAAP Adjusted Net Income (excluding the impact of stock-based compensation) and (ii) IFRS IT Services Revenue and IT Services Revenue on a non-GAAP constant currency basis. IT Services (76% of Total Revenue and 93% of Operating Income for the quarter ended June 30, 2010) Our IT Services business segment recorded Revenue of 55.00 billion ($1,185 million(1)) for the quarter ended June 30, 2010, representing an increase of 14% over the same period last year. EBIT for this segment was 13.50 billion ($291 million(1)) for the quarter ended June 30, 2010, representing an increase of 26% over the same period last year. Our Operating Income to Revenue for this segment was 24.5% for the quarter ended June 30, 2010. We had 112,925 employees as of June 30, 2010, an increase of 4,854 people this quarter. Wipro's capability to be a transformational partner to our clients coupled with global domain expertise helped us secure several large deals this quarter. During the quarter Wipro Technologies and Citibank signed an agreement for Wipro to take over the ownership and management of Citibank's data center in Meerbusch Germany, a suburb of Dusseldorf. In conjunction with the transaction, Citibank will lease back office and data center space from Wipro for at least 30 months and Wipro will provide Citibank with facilities management and physical infrastructure management services during the period. The Meerbusch Germany data center will be Wipro's first facility in Europe and will enable the Company to offer a full portfolio of Infrastructure Management Solutions to its European and global clients. Wipro has signed a multi-year Transformation deal with Magyar Telekom (MT), a subsidiary of Deutsche Telekom and the largest Telecom Service Provider in Hungary. With this project, Wipro & Magyar Telekom enter into a strategic relationship with the objective of leveraging Wipro's global transformation experiences to provide comprehensive range of business & technology services. In line with Wipro's strategy to expand global delivery footprint, Wipro will set up a Hungarian Operations Center in Budapest. We also signed a multi-year deal with one of the largest oil and gas companies to provide managed services across the global functions application landscape. This includes applications across HR, Finance, IT, Corporate, Legal, Corporate Services, Real Estate, and Health Services functions. The India & Middle East region registered growth across the board and saw some good traction in the Government segment. Key wins in the region include the Crime and Criminal Tracking Network (CCTNS) project from the Ministry of Home Affairs and a build and operate contract for State Data Center project from Tamil Nadu Government. Other wins in the region included a multi-year total outsourcing win at TVS Sundaram & Sons and an IT Infrastructure deal from a Telecom Service Provider in the Middle East. Wipro launched two productized services in support of implementations of SAP® applications: an enterprise information management (EIM) service for customers in the oil & gas and process industries and a customer care and billing service for customers in the utilities industry. The best-practices based services are aimed at helping customers implement SAP applications faster, leading to reduced time to value and total cost of ownership. The services were showcased at the SAPPHIRE® NOW conference 2010. In line with the Wipro's globalization strategy and building on the company's rapid expansion plans in Korea, Wipro announced the opening of the company's new office at Seoul and the appointment of the Country Head for South Korea. Awards and Recognition This quarter, Wipro's Identity Access Management (IAM) Solution IDAM-in-a-Rack was recognized by two organizations. The Global Product Excellence Award 2010 identified the solution under the 'Identity Management Solution' Category. The solution was also honored with the 'Best Innovation Award in Identity Access Management Category' by the analyst group KuppingerCole at the European Identity Conference 2010 recently in Munich. Wipro was named as the 2009 'Partner in Progress' by Leading Retailer Sears Holdings Corporation. This award is presented annually to a select group of supplier companies that provide Sears Holdings with quality products and services, from apparel, appliances and tools to marketing, facilities design and technology. Less than one percent of Sears Holdings' over 30,000 suppliers earn the coveted award each year. Wipro received the award for demonstrating the highest level of commitment, quality and innovation in technology. Wipro also won the Technology Solution Excellence award at Cisco Partner Summit at San Francisco, for its Loss Prevention Solution. Wipro was also honored with two SAP® Pinnacle Awards in the categories "IT Outsourcing Partner of the Year" and "Run SAP Partner of the Year". SAP Pinnacle Awards are granted to leading SAP partners that have excelled in enhancing the customer experience, addressing critical issues such as accelerating co-innovation and improving return on investment. Wipro attained the 'Platinum' Partner Status, which is the top tier, in the EMC Global Alliance program. With this enhanced status Wipro will continue to offer more innovative service offerings and best-in-class solutions around EMC's industry leading information infrastructure technology to help customers achieve critical IT efficiencies. IT Products (11% of Total Revenue and 2% of Operating Income for the quarter ended June 30, 2010) Our IT Products segment recorded Revenue of 8.32 billion ($179 million(1)) for the quarter ended June 30, 2010, representing an increase of 13% over the same period last year. EBIT for this segment was 337 million ($7.3 million(1)) for the quarter ended June 30, 2010. The ratio of Operating Income to Revenue for this segment was 4.0% for the quarter ended June 30, 2010. Return on Average Capital Employed (ROCE) for our IT Services and Products segment was 42% on an annualized basis for the quarter ended June 30, 2010 Consumer Care and Lighting (9% of Total Revenue and 6% of Operating Income for thequarter ended June 30, 2010) Our Consumer Care and Lighting business segment recorded Revenue of 6.41 billion ($138 million(1)) for the quarter ended June 30, 2010, representing an increase of 23% over the same period last year. EBIT for this segment was 879 million ($19 million(1)) for the quarter ended June 30, 2010, representing an increase of 11% over the same period last year. Our Operating Income to Revenue for this segment was 13.7% for the quarter ended June 30, 2010. ROCE for this segment was 17% on an annualized basis for the quarter ended June 30, 2010, compared to 17% for the same period last year. About Non-GAAP financial measures This press release contains non-GAAP financial measures within the meaning of Regulation G and Item 10(e) of Regulation S-K. Such non-GAAP financial measures are measures of our historical or future performance, financial position or cash flows that are adjusted to exclude or include amounts that are excluded or included, as the case may be, from the most directly comparable financial measure calculated and presented in accordance with IFRS. The table on page 8 provides our Adjusted Net Income for the period, which is a non-GAAP measure that excludes the impact of accelerated amortization in respect of stock options that vest in a graded manner, and our IT Services Revenue on a constant currency basis, which is a non-GAAP measure that is calculated by translating IT Services Revenue from the current reporting period into U.S. dollars based on the currency conversion rate in effect for the prior reporting period. These Non-GAAP financial measure are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, the most directly comparable financial measure calculated in accordance with IFRS, and may be different from non-GAAP measures used by other companies. In addition to these non-GAAP measure, the financial statements prepared in accordance with IFRS and the reconciliation of these non-GAAP financial measures with the most directly comparable IFRS financial measure should be carefully evaluated. We believe that the presentation of this Non-GAAP Adjusted Net Income, when shown in conjunction with the corresponding IFRS measure, provides useful information to investors and management regarding financial and business trends relating to its Net Income for the period. We consider a stock option award with a graded vesting schedule to be in substance a single award not multiple stock option awards. Further, we consider the services of the employee in each year covered by the stock option award to be equally valuable and accordingly believes that the straight line amortization reflects the economic substance of the stock option awards. However, we record the related stock compensation expenses on an accelerated amortization basis for IFRS reporting. Therefore, we believe that making available an adjusted net income number that excludes the impact of accelerated amortization from Net Income provides useful supplemental information to both management and investors about our financial and business trends. For our internal budgeting process, our management also uses financial statements that exclude the impact of accelerated amortization relating to stock options that vest in a graded manner. Our management of the Company also uses Non-GAAP Adjusted Net Income, in addition to the corresponding IFRS measure, in reviewing our financial results. A material limitation associated with the use of Non-GAAP Adjusted Net Income as compared to the IFRS measure of Net Income is that it does not include costs which are recurring in nature and may not be comparable with the calculation of Net Income for other companies in our industry. We compensate for these limitations by providing full disclosure of the effects of this non-GAAP measure, by presenting the corresponding IFRS financial measure and by providing a reconciliation to the corresponding IFRS measure. We believe that the presentation of IT Services Revenue on a non-GAAP constant currency basis, when shown in conjunction with the corresponding IFRS measure, provides useful information to investors and management regarding financial and business trends relating to our IT Services Revenue. As noted above, IT Services Revenue on a non-GAAP constant currency basis is calculated by translating IT Services Revenue from the current reporting period into U.S. dollars based on the currency conversion rate in effect for the prior period. We refer to growth rates in constant currency so that business results may be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance. Our results for the quarter ended June 30, 2010, computed under IFRS, along with our individual business segment reports, are available in the Investors section of our website at www.wipro.com. Quarterly Conference Calls We will hold conference calls today at 02:00 p.m. Indian Standard Time (04:30 a.m. US Eastern Time) and at 6:45 p.m. Indian Standard Time (9:15 a.m. US Eastern Time) to discuss our performance for the quarter and answer questions sent to email ID: rajendra.shreemal@wipro.com or sridhar.ramasubbu@wipro.com. An audio recording of the management discussions and the question and answer session will be available online and will be accessible in the Investor Relations section of our website at www.wipro.com. About Wipro Limited Wipro provides comprehensive IT solutions and services, including systems integration, information systems outsourcing, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro Limited is the first PCMM Level 5 and SEI CMM Level 5 certified IT Services company globally. Wipro's IT Services business was assessed at Level 5 for CMMI V 1.2 across Offshore and Onsite development centers. Wipro also has a strong presence in niche market segments of Infrastructure Engineering and Consumer Products & Lighting. Wipro's American Depositary Shares (ADSs) are listed on the New York Stock Exchange, and our equity shares are listed in India on the Stock Exchange - Mumbai, and the National Stock Exchange. For more information, please visit our websites at www.wipro.com, www.wiprocorporate.com and www.wipro.in Contact for Investor Relations Contact for Media & Press Rajendra Kumar Shreemal Sachin Mulay Vice President Head - Corporate Brand & Communication Phone: +91-80-2844-0079 +91-80-2505-6110 Fax: +91-80-2844-0051 +91-80-2844-0350 rajendra.shreemal@wipro.com sachin.mulay@wipro.com Sridhar Ramasubbu Vice President Phone: +1 408-242-6285 sridhar.ramasubbu@wipro.com Forward-looking and Cautionary Statements In addition to historical information, this press release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are, by their nature, inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf. (1) For the convenience of the reader, the amounts in Indian rupees in this release have been translated into United States dollars at the noon buying rate in New York City on June 30, 2010, for cable transfers in Indian rupees, as certified by the Federal Reserve Board of New York, which was US $1=46.41. However, the realized exchange rate in our IT Services business segment for the quarter ended June 30, 2010 was US$1=45.69 WIPRO LIMITED AND SUBSIDIARIES CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (Rupees in millions, except share and per share data, unless otherwise stated) As of March 31, As of June 30, ------------ -------------- 2010 2010 2010 ---- ---- ---- Convenience translation into US$ in millions --------- ASSETS ------ Goodwill 53,802 55,283 1,191 Intangible assets 4,011 3,949 85 Property, plant and equipment 53,458 52,557 1,132 Investment in equity accounted investees 2,345 2,502 54 Derivative assets 1,201 2,139 46 Non-current tax assets 3,464 3,436 74 Deferred tax assets 1,686 1,909 41 Other non-current assets 8,784 10,778 232 ----- ------ --- Total non-current assets 128,751 132,553 2,856 ------- ------- ----- Inventories 7,926 8,936 193 Trade receivables 50,928 52,103 1,123 Other current assets 21,106 21,132 455 Unbilled revenues 16,708 21,095 455 Available for sale investments 30,420 64,858 1,398 Current tax assets 6,596 6,675 144 Derivative assets 2,615 1,242 27 Cash and cash equivalents 64,878 34,195 737 ------ ------ --- Total current assets 201,177 210,236 4,530 - TOTAL ASSETS 329,928 342,789 7,386 ======= ======= ===== EQUITY ------ Share capital 2,936 4,899 106 Share premium 29,188 27,871 601 Retained earnings 165,789 178,976 3,856 Share based payment reserve 3,140 2,683 58 Other components of equity (4,399) (4,327) (93) Shares held by controlled trust (542) (542) (12) ---- ---- --- Equity attributable to the equity holders of the company 196,112 209,560 4,515 Non-controlling Interest 437 520 11 Total equity 196,549 210,080 4,527 ------- ------- ----- LIABILITIES ----------- Long -term loans and borrowings 18,107 21,733 468 Deferred tax liabilities 380 360 8 Derivative liabilities 2,882 3,196 69 Non-current tax liability 3,065 3,568 77 Other non-current liabilities 3,233 3,183 69 Provisions 503 562 12 Total non-current liabilities 28,170 32,602 702 ------ ------ --- Loans and borrowings and bank overdrafts 44,404 37,168 801 Trade payables and accrued expenses 38,748 41,294 890 Unearned revenues 7,462 7,293 157 Current tax liabilities 4,850 5,424 117 Derivative liabilities 1,375 1,326 29 Other current liabilities 6,499 5,670 122 Provisions 1,871 1,932 42 Total current liabilities 105,209 100,107 2,157 ------- ------- ----- TOTAL LIABILITIES 133,379 132,709 2,859 ------- ------- ----- TOTAL EQUITY AND LIABILITIES 329,928 342,789 7,386 ======= ======= ===== WIPRO LIMITED AND SUBSIDIARIES CONDENSED CONSOLIDATED INTERIM STATEMENTS OF INCOME (Rupees in millions, except share and per share data, unless otherwise stated) Three months ended June 30, 2009 2010 2010 ---- ---- ---- Convenience translation into US $ in millions Gross revenues 63,868 71,906 1,549 Cost of revenues (43,247) (48,647) (1,048) Gross profit 20,621 23,259 501 Selling and marketing expenses (4,239) (5,387) (116) General and administrative expenses (3,552) (3,838) (83) Foreign exchange gains/ (losses), net (1,406) 458 10 Results from operating 11,424 14,493 312 Finance expenses (640) (403) (9) Finance and other income 995 1,351 29 Share of profits of equity accounted associates 114 157 3 Profit before tax 11,893 15,598 336 Income tax expense (1,740) (2,345) (51) Profit for the period 10,153 13,253 286 ------ ------ --- Attributable to: Equity holders of the company 10,104 13,186 284 Non-controlling interest 49 67 1 Profit for the period 10,153 13,253 286 ====== ====== === Earnings per equity share: Basic 4.16 5.42 0.12 Diluted 4.14 5.42 0.12 Weighted average number of equity shares used in computing EPS earnings per equity share Basic 2,426,935,053 2,433,563,597 2,433,563,597 Diluted 2,443,236,059 2,434,085,523 2,434,085,523 Additional Information Segment Revenue IT Services 48,266 55,002 1,185 IT Products 7,337 8,320 179 IT Services & Products 55,603 63,322 1,364 Consumer Care and Lighting 5,198 6,414 138 Others 1,661 2,628 57 Total 62,462 72,363 1,559 Operating Income IT Services 10,698 13,502 291 IT Products 292 337 7 IT Services & Products 10,990 13,839 298 Consumer Care and Lighting 792 879 19 Others (358) (225) (5) Total 11,424 14,493 312 Reconciliation of adjusted Non-GAAP profit to profit as per IFRS Profit for the period attributable to Equity holders of the Company 10,104 13,186 284 Adjustments : Accelerated amortization of stock options that vest in a graded manner (27) (122) (3) Non-GAAP adjusted profit 10,077 13,064 281 ====== ====== === Reconciliation of Non-GAAP Constant Currency IT Services Revenue to IT Services Revenue as per IFRS ($MN) IT Services Revenue as per IFRS 1,204 Effect of Foreign currency exchange movement (14) Non-GAAP Constant Currency IT Services Revenue based on previous quarter exchange rates 1,218 IT Services Revenue as per IFRS 1,204 Effect of Foreign currency exchange movement - Non-GAAP Constant Currency IT Services Revenue based on previous year exchange rates 1,203 SOURCE Wipro LimitedSource: RedOrbit News - Technology | 22 Jul 2010 | 9:47 pm Female Adult Home Entertainment Units Turned into Dueling Weaponry
Enjoy the totally non-NSFW video titled "Dildo Knight Destroys Opponent." (thanks, Antinous!)
Disney About To Acquire Playdom
Some sources have said the deal is signed and in the closing process. Others say it hasn’t been signed yet and could still unravel. Disney is already an investor in Playdom – last month we reported that Disney’s Steamboat Ventures participated in a new injection of $33 million into the company. Playdom has raised a total of $76 million, and the most recent valuation of the company was around $345 million. We’ve heard a wide range of speculation on the price Disney is paying for Playdom but haven’t confirmed anything yet. It’s probably safe to assume it’s a multiple of that $345 million valuation, though. Zynga, Playdom’s much larger competitor, has likely been valued at more than $2 billion in recent financings. Does the deal make sense for Disney? There are a number of arguments that it does. Disney is weak in the social space, and despite making investments in MMOs, such a the acquisition of Club Penguin in 2007, digital revenues continue to make up a tiny percentage of overall revenue. Disney has exceptional brands, from characters to movies, that can benefit from having social games being built around them. Social games generate revenue, sometimes lots of it, and it’s also free marketing. Expect to see social games around movies being released in advance in the future. Earlier this month Disney acquired Tapulous.      
Source: TechCrunch | 22 Jul 2010 | 9:41 pm Beans are bullets: War-era food posters
Cory Bernat has curated an extensive online image gallery of war-era government posters related to food, food production, farming, backyard gardening, and rationing. The images come from the US National Agricultural Library. One thing I noticed: the large number of posters promoting vegetarian protein sources, in order to conserve meat. Another: you know how gluten-free diets are more common nowadays? You'll find many posters in this collection referencing "wheatless" diets, and promoting other carbs like potatoes and corn. And finally, some of these would fit in quite well with my colleague Mark's Made By Hand book. Below, the poster from which the title of this gallery came: "Beans are Bullets." (via Bibliodyssey)
Microsoft confirms Windows Phone 7 launch partners, will include Asus, Dell, HTC, LG & SamsungSection: Communications, Cellphones, Smartphones, Mobile  The holiday season is going to be here before we know it, and for phone geeks, that means we have the launch of Windows Phone 7 to look forward to. Sadly though, while we have been seeing a fair amount of Phone 7 related news lately, we are still missing quite a bit. Most notably—a solid release date. That said, Microsoft has recently confirmed a list of hardware partners that we can expect to see devices from. The list contains five companies in total and while there is not one that is overly surprising to see, it does still give us something to dream about. So without further adeiu—the list contains Asus, Dell, LG, HTC and Samsung. All of which are said to have something in the works and will have it rolled out for the launch later in the year. So in theory, we should be seeing at least five Windows Phone 7 devices hit the market before years end. Though, its still a bit early and things can change. Of course, it almost goes without saying, but if anything changes lets hope its to add to the list as opposed to remove from the list. Either way though, its looking good so far. Read [Pocket-Lint]
Full Story » | Written by Robert Nelson for Gadgetell. | Comment on this Article » Source: Gadgetell | 22 Jul 2010 | 9:30 pm The Real Story Behind Facebook Stories - PC World
Source: Sci/Tech - Google News | 22 Jul 2010 | 9:02 pm BlackBerry Gets Its Own “Death Grip” App
As you’re undoubtedly aware by now, “death grip” is the term given to smartphone signal loss when a phone is held in your hand a certain way (that covers the antenna). Notably, this has been an issue with the iPhone 4. But Apple called a press conference a week ago to basically say that the problem isn’t unique to their device. And in fact, they showed that it affects other devices by rivals as well. One of those was a BlackBerry device. And RIM was not too pleased about that. But other than issue a stern statement citing RIM as a “global leader in antenna design” (and potentially taking down videos showing the death grip) we haven’t seen much out of them to prove how good their antennas actually are. That’s what this app intends to do. While the release doesn’t mention “death grip” specifically, it’s clear what this is aimed at. Fixmo’s co-founder Rick Segal cites the “noise and unfair implications leveled at Research In Motion” as the basis for this app. The pitch to me was more straightforward, “We also have a feature that encourages you to try out different ‘death grips’ on the BlackBerry to see resulting fluctuations in antenna signal strength.” Something tells me we won’t be seeing an app like this in Apple’s App Store anytime soon. But if you want to try it out for BlackBerry, you can go here on your BlackBerry web browser. Information provided by CrunchBase      
Source: TechCrunch | 22 Jul 2010 | 8:55 pm Alien Swarm Can Be Played As a Terrifying FPSAndrewGOO9 writes "With a few simple commands from the developer console, Alien Swarm can go from being played as an isometric top-down shooter to a first-person perspective. Surprisingly easy, it does make the game, which was released for free via Steam earlier this week, a lot more terrifying. But, anyone who is at home playing games like Modern Warfare or Halo should have no problem slaughtering their way through wave after wave of creatures. In fact, it poses the potential to make the game easier for people who would've otherwise struggled with the overhead view."
Read more of this story at Slashdot.
Source: Slashdot | 22 Jul 2010 | 8:41 pm Halo: Reach edition Xbox 360 looks snazzy, costs four hundy
They say it’s a limited edition, but “limited” in this case probably means limited to like a million. The console will actually make a cameo in the game, which seems a little weird to me. But I’m probably never going to play Reach, so I’ll never know how it is.
Source: CrunchGear | 22 Jul 2010 | 8:31 pm Baidu hacker lawsuit can proceed in US court (AFP)
Source: Yahoo! News: Technology News | 22 Jul 2010 | 8:24 pm Samsung YP-MB2, the Galaxy S PMP, details emergeSection: Audio, Home Audio, Portable Audio, Video, Portable Video, Communications, Smartphones
Samsung has plans to launch the Galaxy S in the form of a PMP dubbed the Samsung YP-MB2. Basically, it would be a slimmed down version of the Galaxy S smartphone without the call feature. In terms of specs, the PMP features a 3MP camera, 4 inch Super AMOLED touch screen, GPS, digital compass, WiFi connectivity, Bluetooth connectivity, operates on Android 2.1, Android market access, and a DMB receiver. Just by looking at the specs, it sounds like a pretty solid device and could give the iPod Touch a run for its money, especially in the States. However, there is no word on availability at this time, but the expected price point is 299,000 won, which is about $250. Via [Samsung Hub] Full Story » | Written by Natesh Sood for Gadgetell. | Comment on this Article » Source: Gadgetell | 22 Jul 2010 | 8:21 pm New Halo: Reach Xbox to Sport 360 Design, Custom SoundA $400 Xbox 360 package contains a Halo-themed console design, two controllers and the hotly anticipated first-person shooter.
Source: Wired Top Stories | 22 Jul 2010 | 8:00 pm Dell Inc. paying $100 million in SEC deal (AP)AP - Computer maker Dell Inc. is paying $100 million to settle civil charges that it fraudulently used payments from Intel to pump up its profits to meet Wall Street targets over five years, the government announced Thursday.Source: Yahoo! News: Technology News | 22 Jul 2010 | 7:39 pm Wooden USB sticks might give you splinters
I have to tell you, even if you don’t want to buy one of their USB sticks, you have to check out the manufacturers site. Roadkill carpet.
Source: CrunchGear | 22 Jul 2010 | 7:30 pm The Funded’s Adeo Ressi: VCs Are Living On Borrowed TimeThe Funded’s Adeo Ressi’s prediction that 2010 will be the year of the angel investor, seems to be coming true.In the second quarter, venture capitalists invested $6.5 billion, an impressive 34% increase from the prior quarter. Not so impressive? The amount of money they pulled in. According to Thomson Reuters and the National Venture Capital Association, venture capital funds only raised $1.9 billion in the second quarter— a 48% drop from the prior quarter. While VC fundraising can be somewhat cyclical, $1.9 billion is far lower than any quarter during the recession. In fact, that’s the lowest level raised in roughly seven years.
According to Ressi, the investment landscape is dramatically shifting, as venture capital becomes a less prominent asset class and a new generation of entrepreneurs-turned-angel investors fill the power vacuum. Amusingly, he says, he knows more and more venture capitalists who are tackling smaller angel investments, as they adapt to this new paradigm. See video above. We’ll be sure to get the other side of this debate on an upcoming episode of TechCrunch NOW. (Note: Great news! You can now now subscribe to the daily RSS/Podcast feed of TechCrunch Now by clicking on these links: Information provided by CrunchBase      
Source: TechCrunch | 22 Jul 2010 | 7:28 pm CloudCanvas Launches HTML5 Image Creation And Editing Suite
CloudCanvas allows both novice doodlers and expert designers to create, store, edit and embed images into the suite. The suite, which supports both vector and bitmap images, includes a standard roster of simple image tools similar to offline image editing suites (i.e. Photoshop), including polygons, circles, painting, layers, brushes and others. And the suite includes more advanced editing tools such as bezier curves, blurring, drop shadow and bevel filters. Additionally, CloudCanvas is integrated with Google Images search and DeviantArt libraries to import images into the suite and includes over 30,000 clipart and templates within the suite. The suite also includes 500 fonts ready to use on the web and support saving in PNG and SVG formats. The virtue of CloudCanvas is that it supports HTML5; and doesn’t run on Flash. CloudCanvas even has an iPad optimized version for touch drawing and illustrating, allowing you to take images right from the desktop to your handheld and back seamlessly. While CloudCanvas is free, the site will eventually include premium features and media sales, such as fonts and stock photography, in the future. As a special incentive for trying the suite out, CloudCanvas is offering a prize of $500 for each of the best three original images created with the product by September 12th, 2010. Of course, there are other powerful browser-based editing suites that CloudCanvas will compete against, including Aviary, and Photoshop itself.
Information provided by CrunchBase      
Source: TechCrunch | 22 Jul 2010 | 7:21 pm AT&T Q2 results: 3.2 million iPhone activations, $30.8 billion in revenueSection: Business News, Communications, Cellphones, Cellular Providers
It looks like AT&T had a pretty solid second quarter in terms of revenue, iPhone activations, profit, etc. The giant wireless company activated over 3.2 million iPhones, which is a company record, and the iPhone 4 was only available four days into Q2. In terms of revenue, AT&T raked in $30.8 billion, but that’s actually only up 0.6% from the previous year. It added over 1.6 million new wireless subscribers meaning a grand total of 90.1 million customers for AT&T. In addition, it announced a 27% growth in wireless data revenues. No matter how many people complain AT&T has inferior service, people continue to stick with AT&T and many people continue to ink new contracts. Hopefully AT&T will continue to see big returns in Q3. Check out the full press release below. Read [AT&T]
Full Story » | Written by Natesh Sood for Gadgetell. | Comment on this Article » Source: Gadgetell | 22 Jul 2010 | 7:12 pm TEXT-Australia's Sonic Healthcare confirms FY guidanceSYDNEY, July 23 (Reuters) - For a full statement, please click on: http://pdf.reuters.com/asxnews/asxnews.asp?i=43059c3bf0e37541&u= urn:newsml:reuters.com:20100723:ASX_2A599525Source: RSS feed - channel BNewsTech | 22 Jul 2010 | 7:11 pm Driverless vehicles begin trek from Italy to China
The project has been in the lab and driving around locally for some time now, but they think it’s time to take it to the next level. The project lead, Alberto Broggi, said:
He puts driverless vehicles at about 20 years off, which seems like a long time to me. But 10 years is way too soon. I’m going with 15. The project will be two pairs of vans, with the robo-vans following the driven vans — which will be carrying technicians in case the robo-vans break down. Since they’ll be driving on populated roads and the chances of error and danger are pretty high, there will be a driver in each robo-van as well, waiting to take over at the push of a button. They intend to drive all the way from Parma, Italy, to China — at between 30 and 37MPH, which is about as fast as the vans can go. Sounds pretty cool to me (and a bit like a Top Gear episode), but it probably will get pretty boring being the backup guy during the long stretches. [via Techdirt; image: Antonio Calanni/AP]
Source: CrunchGear | 22 Jul 2010 | 7:00 pm Seagate predicts the coming of hybrid hard drives
In a recent interview, a representative from Seagate stated that the future of hard drive technology lies in the so-called “hybrid” technology. In this case, “hybrid” refers to the concept of using a flash memory buffer to increase the read/write speed, without increasing the RPM. Seagate actually has developed one of these new hybrid drives, the 2.5-inch Momentus, and the rep from Seagate said that they are already experiencing high demand for the new technology. Seagate acknowledges that SSD drives still have some benefits over the hybrid technology, but the cost per gigabyte could help the new technology take over 80% of the market by 2015. Of course, in 5 years, there will probably be some other storage technology we’ll all be talking about. [via XbitLabs]
Source: CrunchGear | 22 Jul 2010 | 7:00 pm Talking about the Barbie Video Girl Doll with Paul Carr (another doll) Make no mistake, we get some weird stuff sent to TCHQ, especially when it's addressed to our Belgian reporter, Robin Wauters. Which is why I always make a point of opening his mail before it's sent on.
Today, though, was a special day.
Today, wrapped innocently in tissue paper, came "Barbie Video Girl": a genuine Barbie doll, featuring a hidden webcam in her neck. It's hard to get across in text alone how messed up this thing is, so I hopped on to Skype with CrunchGear's John Biggs in New York for the first episode of a new video segment I'm calling "What's Fucked Up In Toys... With John Biggs."
Slightly NSFW video below.
Source: CrunchGear | 22 Jul 2010 | 6:45 pm Amazon Strikes Sweet Exclusive Deal – Good For Them, Bad For Consumers
Picture all the e-books that are out there as being in a big pie. Amazon is cutting a piece of the pie out and putting it in their own pan. Pretty soon, the other players will be furiously cutting their own pieces out of the pie and isolating them in their own pans. The end result is a messy and fractured marketplace that’s difficult and confusing for consumers to navigate.      
Source: TechCrunch | 22 Jul 2010 | 6:32 pm Amazon strikes sweet exclusive deal – good for them, bad for consumers
That said, it’s an inevitable step, and it’s far from unprecedented. This kind of thing has been going on since the first marketplaces, where one merchant said to the farmer bringing his beets to market: “Look, you’ve got the best beets, I’ve got the best shopfront. You know it, I know it — let’s make a deal. We’ll clean up.” Except they spoke in Latin, or Linear B or something. Point is that exclusivity happens, and the end result is that everyone steps up and the whole market gets better. But in the meantime, beets are going to be expensive. Exclusive deals on this or that store, including the Kindle, are nothing new. It’s just that now, as the e-book market heats up, there’s going to be some real competition for talent, and talent is going to start pushing for deals as well. Sure, they want to sell as many copies as possible, but limiting it to one e-book store isn’t going to rock their boat too much, and I’m sure Amazon will be paying a nice up-front. Over the next two years, we’ll see a huge migration of famous authors to major e-book brands. Like Stephen King? If you want him in e-book form, you need a Kindle. That sort of exclusivity is easy to grasp and will likely stay around for a while. I’m just concerned that it ends up being a negative for the end user. If the big players expect best-seller readers to switch to e-books, this is a bad way of going about it. Joe Danielle-Steel-Reader is going to be angry when he finds that he is unable to get certain authors on his e-reader, or that he has to sign up at a new store and give his credit card information all over again. Sure, you can get Nook, Kindle, or Kobo for lots of devices, but who wants to deal with a whole new interface and store for this or that author or book? For the titles selling millions, it’s going to be more convenient for him to buy an actual paperback — portable, DRM-free, and region-agnostic. Kindle may end up the iTunes of e-books, but until it’s really settled (as seems to be the case with music), there will be troubles.
Of course, Amazon and the others (as well as authors and agents) are sure to be aware of this problem. The “exclusive” deals going on are likely to be limited in key ways, though this one (for 20 classic books at first) is for a full two-year period of exclusivity. Seems a bit over the top. I think publishers and authors are going to end up doing something a little less drastic in future exclusive deals. First three months? First 50,000 copies? Until the author or agent says so? It’ll probably be a contract-specific parameter, which may actually end up confusing the matter further until it’s standardized. I’d like the “first X copies” one, personally — it encourages everyone involved to push as hard as they can. Predictably, dead-tree publishers are raising a stink. They’re incensed that agents would make these deals on the side without consulting them or working out their cut. Better get used to it, guys. That club you’re wielding against the new wave of distribution is getting smaller every day. It’s going to be chaotic in this business for the next couple years, for more reasons than those I’ve mentioned. A turbulent market is a hard one for consumers to navigate, unless of course they read this website, in which all secrets are revealed. The move to digital distribution is still wreaking havoc on the music industry, and the TV and movie industries are only faring marginally better. Hopefully the book and publishing industry will have smoother sailing. [via Electronista]
Source: CrunchGear | 22 Jul 2010 | 6:30 pm Officials extol Twitter's decision as sign of Utah's tech strength - Deseret News
Source: Sci/Tech - Google News | 22 Jul 2010 | 6:09 pm Motorola Droid X is now able to be rootedSection: Communications, Cellphones, Cellular Providers, Smartphones
So much for eFuse supposedly rendering the Motorola Droid X “unrootable.” A person named Birdman has come up with a root process for the Droid X in a 27 step process. Does the root actually work? Here is a comment from a forum user:
Looks like we have a winner in Birdman’s Droid X root. In case you want to try it out, follow the steps in the link below, but proceed with caution because if something goes wrong, you are liable. Read [AllDroid Forums] Full Story » | Written by Natesh Sood for Gadgetell. | Comment on this Article » Source: Gadgetell | 22 Jul 2010 | 6:02 pm Is Sony developing a new laser to replace Blu-ray?
To be fair, Sony only announced they were developing the laser — they didn’t actually say anything about bringing it to market, or even if it is intended to replace the current Blu-ray format. What they did reveal is that the new laser is capable of reading a disk that has 20 times the capacity of the current generation of optical storage. This means that a blue-violet based player could have more then 50 movies on one disk, or (even more likely) fit an entire season of a TV show on one disk. That would certainly help clean up my Netflix queue! [via Slashdot]
Source: CrunchGear | 22 Jul 2010 | 6:00 pm 'Action Chick' Looks at Comic-Con's Geek GirlsFierce female characters are gaining traction in the pop-culture landscape, but even in 2010 guys still outnumber women when it comes to starring roles in movies, TV, comics and video games. Several Comic-Con International panels will offer updates on the state of the geek girl this weekend.
Source: Wired Top Stories | 22 Jul 2010 | 6:00 pm Flaming Helmets, Dancing Tanks at Russian Arms ExpoIn the long and storied history of the Russian ballet, there have been many legendary names: Mikhail Baryshnikov, Alexander Godunov, Olga Spesivtseva. Now, a new icon must be carved into this list of greats: Boris the Tank Driver.
Source: Wired Top Stories | 22 Jul 2010 | 6:00 pm KISSmetrics: A Conversion Funnel Tool That Gives Your Site A Memory
At this point, KissMetrics is built around one type of analysis: the conversion funnel, which shows you how many users are dropping off during your signup flows (and can hopefully help you figure out why). You can customize these graphs by tracking different variables, but Cofounder Hiten Shah says that you won’t find a dizzying array of other options. The goal, he says, was to get this one key tool to work very well before branching out (though other tools will follow). KissMetrics started off around two years ago as an analytics service for Facebook applications, but shifted to its broader current model after noticing how many companies were building their analytics tools in-house. That story may sound familiar: the founders of Mixpanel, another analytics company, drew similar inspiration from their time at Slide. So how does KissMetrics differ from Mixpanel and the other analytics services that are already out there? Shah says that other services generally track clicks and events, but that they don’t track users. KissMetrics, on the other hand, can be used to track the activity of a user even before they’ve even joined your site — it essentially builds an anonymous history for each user, and then associates that history with their username once they create an account. For example, if you were to visit a site five times without converting, but then visited a sixth time and did convert, the site’s owners can use KissMetrics to look back at the history of the first five visits to try to identify where they went wrong. While this technology could potentially be used for things like cross-site advertising, Shah says KissMetricsonly creates these user histories on a per-site basis (he explains that this minimizes privacy issues). In the future, he says that KissMetrics products will evolve toward helping optimize marketing and customer acquisition. The service is free for the first thirty days, then offers tiered monthly pricing plans based on how many events you’ll be tracking. These plans begin at $149 a month and go up to $699, with custom plans for especially large sites. KissMetrics’ advisors include Eric Ries, Sean Ellis, Jeff Veen, Jeff Hammerbacher, and Ed Baker (CEO of Friend.ly), many of whom have extensive experience in analytics.
Information provided by CrunchBase      
Source: TechCrunch | 22 Jul 2010 | 5:48 pm Seth Rogen Talks Green Hornet's Fast Cars, 3-D SecretsWired.com catches up with Seth Rogen at Comic-Con 2010 to hear about the production of The Green Hornet and his role as the masked vigilante.
Source: Wired Top Stories | 22 Jul 2010 | 5:40 pm SFLC Wants To Avoid Death by Codeforegather writes "The Software Freedom Law Center has released some independent research on the safety of software close to our hearts, that inside of implantable medical devices like pacemakers and insulin pumps. It turns out that nobody is minding the store at the regulatory level and patients and doctors are blocked from examining the source code keeping them alive. From the article: 'The Food and Drug Administration (FDA) is responsible for evaluating the risks of new devices and monitoring the safety and efficacy of those currently on market. However, the agency is unlikely to scrutinize the software operating on devices during any phase of the regulatory process unless a model that has already been surgically implanted repeatedly malfunctions or is recalled. ... Despite the crucial importance of these devices and the absence of comprehensive federal oversight, medical device software is considered the exclusive property of its manufacturers, meaning neither patients nor their doctors are permitted to access their IMD's source code or test its security.'"
Read more of this story at Slashdot.
Source: Slashdot | 22 Jul 2010 | 5:37 pm THQ promises not to make mediocre games anymore
Curran had some really strong statements to make about how competitive the gaming market is days, and admitted that their games haven’t always been the best. In fact, he went so far as to admit that in the past, their games have been rushed to market before they were ready. It’s good to know that THQ has several new titles coming out this year, including WWE Smackdown vs RAW, Red Faction: Armageddon, and Saints Row 3. We’ll see once the reviews come out rather they are sticking to their promises. [via Gamerzines]
Source: CrunchGear | 22 Jul 2010 | 5:30 pm Mixed-Media Artists Reanimate Night of the Living DeadGeorge Romero's ground-breaking 1968 horror classic Night of the Living Dead is reanimated by nearly 150 international artists in a new DVD compilation premiering Thursday night at Comic-Con International.
Source: Wired Top Stories | 22 Jul 2010 | 5:20 pm Cam Girl Barbie: Seriously Mattel, What Were You Thinking? [Video]
Today, though, was a special day. Today, wrapped innocently in tissue paper, came “Barbie Video Girl”: a genuine Barbie doll, featuring a hidden webcam in her necklace. It’s hard to get across in text alone how messed up this thing is, so I hopped on to Skype with CrunchGear’s John Biggs in New York for the first episode of a new video segment I’m calling “What’s Fucked Up In Toys… With John Biggs.” Slightly NSFW video below.      
Source: TechCrunch | 22 Jul 2010 | 5:17 pm Apple Is Not the New Microsoft. And, Yet ...Apple reported record revenues earlier this week, but Microsoft had a blowout quarter of its own, reporting revenues Thursday of $16.04 billion -- enough to keep the Redmond giant ahead of the Cupertino company in this particular financial metric. But that's not the whole story.
Source: Wired Top Stories | 22 Jul 2010 | 5:05 pm MagicJack Femtocell delayed, but still coming this year You may remember at CES this year we had a chance to meet with MagicJack and see the prototype for their Femtocell technology, which they said would be coming out in the first half of the year. Well they missed their projected launch date, but it's looking like the Femtocell product may still be coming this year.
Source: CrunchGear | 22 Jul 2010 | 5:00 pm Intel Designs a Slick Touchscreen Cash Register
If you think Intel chips are just for PCs, take a look at this touchscreen kiosk that the company has created for retailers. The hulk of metal, plastic and glass looks like a Star Trek prop but it promises to replace the traditional CRT monitors with green-tinted screens that are still at the check out point in most stores. The kiosk tries to bring the best features of online shopping, such as recommendations, history and easy check-out to retail stores, says Ryan Parker, director of marketing and architecture. We first wrote about this last year but Intel had a polished and slicker-than-ever demo ready Wednesday. When a customer swipes a card or slides their purchase across the horizontal screen, the display will show the price and payment options –which include the option to pay by cellphone. As you scan the items, the kiosk also makes recommendations on what else you can buy and gives you a quick snapshot of it. The entire kiosk is powered by Intel’s Core2Duo processors and it uses a solid state drive that helps the overall system work faster and consume less power than existing registers. The chips also include Intel’s vPro technology, a virtualization technology that Intel builds into the chip itself, to make it secure and easy to manage. The whole set-up is pretty neat, especially when you compare it to the self-check out counters at a Safeway or Lowes. But I can also see something like this potentially slowing down the check out process and longer lines at exit are not something consumers want. Intel says it retailers don’t have to buy this whole idea as it is. They can pick the pieces they want and integrate it into their existing stores. See Also:
Photo: Stefan Armijo/Wired.com 
Source: Wired: Gadget Lab | 22 Jul 2010 | 4:59 pm Another 20 million users in just 7 months, Pandora swings for fencesSection: Audio, Home Audio, Portable Audio, Communications, Mobile  Pandora is now calling the tune, or tunes as the case may be. The company is adding users like mad, adding 20 million, yes million, users since December of ‘09. More over, the company that most people stream music for free is now profitable. How is that possible? Like Netflix, it is pursuing a path of get on everything. “If it is electric, get Pandora on it” seems to be the mantra at the company. Just last week, I saw a toaster with a decal about Pandora being on board. From TVs to Fords to mobile phones and computers, Pandora has become the app darling and a killer feature to have. Being on everything means more people have the chance to become Pandora customers. The numbers say this thinking is working. It took the company a year to move from 20 to 40 million users (2009); then just six months later, another 20 million users are jamming to the companies clever tunes playlist. Mobile is a big part of their success. While the company didn’t break it out, the fantastic iPhone, Android and webOS apps make listening to “your” music easier than actually listening to locally saved music, plus users don’t have to buy anything. With an audience of this size, the company is looking at increasingly clever ways to monetize them. Recently, using user data and geographic location, the company was able to send out an email to targeted, nearby fans of Aimee Mann to pump up a gig. The result of the test was impressive. With Pandora’s massive user base, we don’t expect them to slow down any time soon. Oh, and I didn’t really see a toaster sporting Pandora, but I suspect that is a couple of weeks out. Read: [TechCrunch]
Full Story » | Written by JG Mason for Gadgetell. | Comment on this Article » Source: Gadgetell | 22 Jul 2010 | 4:55 pm Wallow in Microsoft's Q4 Glory: The Show-Me-the-Money Slides [BoomTown]
As it turned out, Microsoft (MSFT) blew past even the sunniest Wall Street expectations in its fourth-quarter earnings. Spurred by a robust PC upgrade cycle, net income rose to $4.5 billion, or 51 cents a share, from $3 billion, and revenue to $16.04 billion from $13.1 billion. Analysts had been expecting earnings of 46 cents a share on $15.2 billion in revenue. (Even losses from the Online Services Division were lower than the previous quarter, dropping from $731 million to $696 million–although this quarter’s losses were more than the same quarter a year ago, which were $585 million.) BoomTown was on a plane jetting to Aspen for the Fortune Brainstorm Tech conference, so I missed liveblogging the management call this afternoon (sorry, Frank!). Here are the software giant’s slides of the financial results to peruse at your leisure: Source: All Things Digital | 22 Jul 2010 | 4:55 pm RealNetworks Names Bob Kimball President and CEO [Voices]By Beth Callaghan RealNetworks announced today that effective immediately, Bob Kimball has been named President and CEO of the company. Kimball has been serving as President and Acting CEO since January of this year, after Founder Rob Glaser stepped down as CEO. Kimball formerly served as the company’s senior legal executive. He joined Real in 1999. Source: All Things Digital | 22 Jul 2010 | 4:53 pm Doc on Comics God Grant Morrison Fires Up FandomWe interview Patrick Meaney -- and show off an exclusive clip from his new documentary on mind-warping writer Grant Morrison.
Source: Wired Top Stories | 22 Jul 2010 | 4:52 pm Sony's Blue-Violet Laser the Future Blu-ray?JoshuaInNippon writes "Japanese researchers from Sony and Tohoku University announced the development of a 'blue-violet ultrafast pulsed semiconductor laser,' which Sony is aiming to use for optical disks. The new technology, with 'a laser wavelength of 405 nanometers in the blue-violet region' and a power out put 'more than a hundred times the world's highest output value for conventional blue-violet pulse semiconductor lasers,' is believed to be capable of holding more than 20 times the information of current Blu-ray technology, while retaining a practical size. Japanese news reports have speculated that one blue-violet disk could be capable of holding more than 50 high-quality movie titles, easily fitting entire seasons of popular TV shows like 24. When the technology may hit markets was not indicated."
Read more of this story at Slashdot.
Source: Slashdot | 22 Jul 2010 | 4:50 pm Feds Bust Chinese Firm's Hybrid Car Data Heistcoondoggie writes "An FBI investigation has led a Michigan couple to be charged with stealing hybrid car information from GM to use in a Chinese auto outfit. A federal indictment charged Yu Qin, aka Yu Chin, 49, and his wife, Shanshan Du, aka Shannon Du, 51, of Troy, Michigan with conspiracy to possess trade secrets without authorization, unauthorized possession of trade secrets, and wire fraud. One of the individuals was also charged with obstruction of justice, said Barbara McQuade, United States Attorney for the Eastern District of Michigan in a statement. GM estimates that the value of the stolen documents is over $40 million."
Read more of this story at Slashdot.
Source: Slashdot | 22 Jul 2010 | 4:03 pm Droid X: “Print to Retail” feature sends photos directly to CVS or Costco for printingSection: Communications, Smartphones, Mobile
Via [AndroidGuys] Full Story » | Written by Robert Nelson for Gadgetell. | Comment on this Article » Source: Gadgetell | 22 Jul 2010 | 3:44 pm Palm’s Jon Rubinstein: WebOS 2.0 coming “later this year”
When HP snatched up Palm, the webOS community feared the worst. Was webOS doomed to be shelved, with HP tearing Palm apart solely for their patents? Within days, however, HP confirmed that they had no plans to abandon webOS or Palm’s smartphone business — in fact, HP wanted to put webOS onto a bunch of other devices, like printers and tablets. Further proving that webOS isn’t dead, Jon Rubinstein just casually dropped a mention of “webOS 2.0″ on a panel at the Fortune Brainstorm Tech conference, saying that it’d be coming “later this year”. Alas, outside of the name (and that it’ll presumably contain at least some of the foundation for webOS-powered tablets), we don’t know a whole lot about it. What’s going to warrant the big jump up to version 2.0? Let us know your guesses down in the comments below.
Source: MobileCrunch | 22 Jul 2010 | 3:39 pm NetChoice Concerned over Competing Online Privacy ProposalCongressional Hearing Fails to Fully Explore the Unintended Consequences for Consumers and Small Businesses WASHINGTON, July 22 /PRNewswire-USNewswire/ -- The House Committee on Energy and Commerce Subcommittee on Commerce, Trade, and Consumer Protection today explored the BEST PRACTICES Act of 2010, introduced on July 20 by Representative Bobby Rush (D-Ill.). NetChoice has serious concerns over the potential negative impact that enactment of the legislation could have on the entire Internet commerce community. "Today's hearing confirmed that the legislation is a top-down mandate for regulating the flow of information online," said Steve DelBianco, executive director of NetChoice. "While it is important to develop strong protections for online privacy, the proposed legislation is less about best practices and more about required restrictions." One element of the proposal calling for a safe harbor "choice program" is no real choice for online businesses, who will be forced to participate to avoid costly lawsuits enabled by the bill's private right of action. As the overseer of the safe harbor program, the Federal Trade Commission will have broad powers to define and approve self-regulatory programs, effectively transforming the FTC into the port authority of the Internet. Similar to a discussion draft released by Reps. Boucher and Stearns, the bill uses exceptions for legitimate business operations, but these exceptions are much too narrow. For instance, the "Operational Purpose" still would not permit the use of covered information for marketing to existing customers. Additional consent should not be required when a business does follow-up marketing to customers with whom it has already established a business relationship. The proposal also fails to provide meaningful protection for small businesses. The legislation would not apply to entities that collect information from fewer than 15,000 people, but the size of a business is not necessarily defined by the number of customers they have. NetChoice looks forward to continued open and thoughtful consideration of this matter without undue pressure to find quick fixes. NetChoice is an advocacy organization that fights threats to online commerce and promotes policies that protect Internet innovation and communication on a state, federal and international basis. The Washington, DC-based group protects Internet commerce-driven competition and battles rules that hinder consumer choice and hurt small businesses. For more information, see www.netchoice.org. SOURCE NetChoiceSource: RedOrbit News - Technology | 22 Jul 2010 | 3:36 pm Palm HP gives away Pres to everyone at Brainstorm conference
I doubt they’re going to convert many (if any) of the audience, but let’s be honest, there are probably a lot of Pres sitting around so it’s a pretty microscopic gesture in terms of cost, while the benefit is a few hundred influential people have a hands-on experience with their flagship OS.
Source: MobileCrunch | 22 Jul 2010 | 3:35 pm Hyperfast Star Kicked Out of Milky WayNew Hubble observations suggest a dramatic origin story for one of the fastest stars ever detected, involving a tragic encounter with a black hole, a lost companion and swift exile from the galaxy.
Source: Wired Top Stories | 22 Jul 2010 | 3:30 pm MagicJack Femtocell delayed, but still coming this year
There’s been some controversy and problems of course, the CTIA says that the product is illegal, MagicJack says it’s not, and the FCC is still deciding what’s going to happen. Assuming the FCC says that the product is legal, MagicJack has itself well positioned through a recent merger with the company responsible for inventing VoIP in the first place. It’s definitely going to be interesting to see what happens, and if MagicJack wins, prepaid cell phones are going to get a whole lot more popular. [via Business Insider]
Source: MobileCrunch | 22 Jul 2010 | 3:28 pm Microsoft: Be What’s Next…what?Section: Business News, Communications, Cellphones, Smartphones, Computers
Microsoft is reportedly changing its tagline to “Be What’s Next.” This move was announced recently at its annual Microsoft Global Exchange event. It was also thought that Microsoft was going to change up logos for its products, but Microsoft denied those assertions. However, the new tagline is here to stay and will be used every once in a while on various products. Maybe Microsoft is looking to change things up and have a refreshed tagline for its impending Windows Phone 7 launch. It’s a unique and different tagline to say the least and saying it aloud sounds weird. Hopefully Microsoft will shed some perspective about the tagline soon enough. Via [Engadget] Full Story » | Written by Natesh Sood for Gadgetell. | Comment on this Article » Source: Gadgetell | 22 Jul 2010 | 3:20 pm Safari Privacy Bug May Be Leaking Your Datarichi writes "If you use Safari, your browser may be leaking your private information to any website you visit. Jeremiah Grossman, the CTO of WhiteHat Security, has discovered some Very Bad News. I have some analysis and other reactions over at my Computerworld blog. The potential for spam and phishing is huge. A determined attacker might even be able to steal previously-entered customer data." In short, autofill for Web forms is enabled by default in Safari 4 / 5 (and remotely exploitable), and the data that this feature has access to includes the user's local address book — even if the information has never been entered into a Web form.
Read more of this story at Slashdot.
Source: Slashdot | 22 Jul 2010 | 3:18 pm STMicroelectronics Reports 2010 Second Quarter and First Half Financial ResultsGENEVA, July 22 /PRNewswire-FirstCall/ -- STMicroelectronics (NYSE: STM) reported financial results for the second quarter and first half ended June 26, 2010. Second quarter net revenues increased 27% on a year-over-year basis, with all regions and market segments, excluding Telecom, posting double-digit revenue growth. Regional growth was led by the Americas with sales growth of 45%, followed by Greater China-South Asia with a 39% increase in net revenues. President and CEO Carlo Bozotti commented, "ST posted another quarter of improvement in the Company's financial performance, with revenues, gross margin, operating and net income all showing progressive strengthening sequentially and year-over-year. "We were particularly pleased with demand for both IMS and ACCI. In combination, IMS and ACCI delivered sales growth of 51% year-over-year and 16% sequentially. Obviously, we are not satisfied with the results in wireless. However, we are encouraged by ST-Ericsson's progress in achieving key design-wins as well as restructuring, towards a progressive recovery. "Gross margin increased 60 basis points sequentially to 38.3% due to manufacturing efficiencies and product innovation. This improvement comes on top of the first quarter sequential increase of 70 basis points. ------------------ (*)Adjusted operating margin attributable to ST, adjusted EPS (diluted) and net financial position are non-U.S. GAAP measures. Adjusted operating margin attributable to ST is calculated as operating income before impairment and restructuring charges (excluding 50% of ST-Ericsson JVS) / reported revenues excluding 50% of ST-Ericsson JVS revenues. Please refer to Attachment A for additional information explaining why the Company believes these measures are important and for a reconciliation to U.S. GAAP. "Net income of $356 million reflected the gain on the sale of Numonyx to Micron as well as the improving profitability of our core businesses. As our results demonstrate, we are well positioned to achieve our financial targets as evidenced by the 7.7% adjusted operating margin attributable to ST in the second quarter.* "Thanks to our consistent focus on cash generation, we have further strengthened our net financial position to over $700 million compared to $420 million at the end of 2009."* Second Quarter Review ST's net revenues for the second quarter of 2010 totaled $2,531 million and included sales recorded by ST-Ericsson as consolidated by ST. Net revenues increased 8.9% sequentially, mainly reflecting ACCI and IMS product segments registering better than seasonal sequential revenue growth trends while the Company's Wireless segment decreased by 10.5%. On a year-over-year basis, all market segments, except Telecom, posted growth with Automotive increasing by 48%, Industrial by 43%, Consumer by 42% and Computer by 23%. Telecom declined by 3%. Distribution, increased 81%, reflecting continued strong global demand. Sequentially, all market segments, except Telecom, increased with Consumer higher by 15%, Industrial by 11%, Automotive by 10% and Computer by 6%. Telecom decreased by 2%. Distribution increased sequentially by 22%. Net Revenues By Market Segment /Channel (a) Q2 2010 Q1 2010 Q2 2009 (In %) Market Segment / Channel: Automotive 14% 14% 12% Computer 12% 12% 13% Consumer 13% 12% 11% Industrial & Other 8% 8% 8% Telecom 32% 35% 41% Total OEM 79% 81% 85% --------- --- --- --- Distribution 21% 19% 15% ------------ --- --- --- (a) Sales recorded by ST-Ericsson and consolidated by ST are included in Telecom and Distribution. Gross margin in the second quarter of 2010 was 38.3%, 60 basis points higher than the 37.7% reported in the first quarter of 2010, mainly due to manufacturing efficiencies and product innovation. As anticipated, ST's manufacturing performance continued to improve in the second quarter. Gross margin increased 1,220 basis points in comparison to the year-ago period level of 26.1% principally reflecting a return to normal fab loading as well as ongoing improvement from new products. Combined SG&A and R&D expenses were $895 million in the second quarter of 2010, compared to $876 million in the prior quarter and $896 million in the year-ago quarter. Combined operating expenses, as a percentage of sales, were 35.4% vs. 37.7% in the prior quarter, and 45.0% in the year-ago quarter. Related to the Company's cost-realignment initiatives, ST posted second quarter restructuring and impairment charges of $12 million. ST posted restructuring and impairment charges of $33 million and $86 million in the prior quarter and year-ago period, respectively. ------------------ (*)Adjusted operating margin attributable to ST, adjusted EPS (diluted) and net financial position are non-U.S. GAAP measures. Adjusted operating margin attributable to ST is calculated as operating income before impairment and restructuring charges (excluding 50% of ST-Ericsson JVS) / reported revenues excluding 50% of ST-Ericsson JVS revenues. Please refer to Attachment A for additional information explaining why the Company believes these measures are important and for a reconciliation to U.S. GAAP. Revenues and Operating Results by Product Segment The following table provides a breakdown of revenues and operating results by product segment. Operating Q2 Q2 Q1 Q1 Q2 Q2 Segment 2010 2010 2010 2010 2009 2009 (In Million US$) Net Operating Net Operating Net Operating Income Income Income Revenues (Loss) Revenues (Loss) Revenues (Loss) ACCI (a) 1,045 99 909 48 712 (71) IMS (a) 945 137 811 92 605 (22) Wireless (b) 525 (137) 587 (116) 650 (126) Others (c)(d) 16 (8) 18 (44) 26 (209) ------ --- --- --- --- --- ---- TOTAL 2,531 91 2,325 (20) 1,993 (428) ----- ----- --- ----- --- ----- ---- ACCI (Automotive/Consumer/Computer/Communication Infrastructure Product Groups) second quarter net revenues increased 46.8% year-over-year to $1,045 million, driven by strong growth in all product groups. Sequentially, ACCI grew net revenues 15.0% led by the Consumer and Automotive product groups. ACCI posted operating income of $99 million, compared to income of $48 million in the prior quarter and a loss of $71 million in the year-ago quarter. Second quarter ACCI operating margin improved sequentially to 9.5% from 5.3%. IMS (Industrial and Multisegment Product Sector) second quarter net revenues increased 56.3% year-over-year to $945 million, driven by strong growth in all product groups and in distribution. Sequentially, IMS grew net revenues 16.6% led by microcontrollers and analog and power discrete products. IMS operating income continued to increase, reaching $137 million in the second quarter, and compares to income of $92 million in the prior quarter and a loss of $22 million in the year-ago quarter. Second quarter IMS operating margin improved sequentially to 14.4% from 11.3%. Mr. Bozotti commented, "Innovative products continue to drive revenue momentum. In the second quarter, several new product areas, including advanced 55nm set-top-box solutions that offer our customers top performance at low power and leading-edge functionality, such as 3D graphics and 3D video; 32-bit microcontrollers; as well as power and analog grew significantly. "Important milestones and design wins were also achieved in the quarter such as our gyroscope family entering volume production. Our gyroscope technology is quite broad with target applications including smartphones, robotics, navigation, cameras, gaming and medical devices. In addition, our automotive 32-bit MCU family had continued success with major design-wins, including a body electronics platform from a leading OEM. We also enlarged our general-purpose 32-bit MCU family, sampling to lead customers the STM32L series, the industry's first ultra-low-power ARM® Cortex(TM)-M3 microcontroller delivering industry-leading energy-saving performance." ----------------- (a)Reflecting the transfer of a small business unit from ACCI to IMS as of January 1, 2010, the Company has reclassified prior period revenues and operating income results of ACCI and IMS. (b) Starting February 3, 2009, "Wireless" includes the portion of sales and operating results of the ST-Ericsson joint venture as consolidated in the Company's revenues and operating results, as well as other items affecting operating results related to the wireless business. (c) Net revenues of "Others" includes revenues from sales of Subsystems, assembly services and other revenues. (d) Operating income (loss) of "Others" includes items such as unused capacity charges, impairment, restructuring charges and other related closure costs, start-up and phase-out costs, and other unallocated expenses such as: strategic or special research and development programs, certain corporate-level operating expenses, patent claims and litigations, and the other costs that are not allocated to product groups, as well as operating earnings or losses of the Subsystems and Other Products Group. "Others" includes $0 million, $1 million and $123 million of unused capacity charges in the second and first quarters of 2010 and second quarter of 2009, respectively; and $12 million, $33 million and $86 million of impairment and restructuring charges in the second and first quarters of 2010 and second quarter of 2009, respectively. Wireless net revenues in the second quarter decreased 19.3% year-over-year to $525 million, reflecting ST-Ericsson's continued portfolio transition, weaker-than-expected performance in Asia and some supply limitations, which were only partially offset by positive performance of certain EDGE products. Wireless operating loss in the second quarter was $137 million compared to an operating loss of $116 million and $126 million in the prior and year-ago quarters, respectively, due to lower revenues which were partially mitigated by restructuring initiatives completed to date. Wireless operating loss in the second quarter of 2010 excludes $6 million in restructuring charges related to ST-Ericsson. ST recorded $74 million of income in the second quarter of 2010, $72 million and $109 million in the prior quarter and year-ago period, respectively, reflecting the net results attributable to non-controlling interest, mainly related to the ST-Ericsson joint venture. This amount is posted below operating results in ST's Consolidated Income Statement and reflects Ericsson's 50% share in the joint venture's results, as consolidated by ST. For additional information, including key design wins, on ST-Ericsson, see www.stericsson.com Net Results ST reported a net gain of $264 million on equity investments and divestiture mainly due to the sale of the Company's 48.6% stake in Numonyx to Micron Technology. In connection with the sale, the Numonyx senior credit facility that was supported by ST's guarantee of $225 million was repaid. Looking forward, ST expects to benefit from the release of $250 million of cash that is currently restricted and the future opportunity to monetize the shares of Micron stock. ST reported net income of $356 million in the second quarter of 2010, or $0.39 per diluted share, compared to a net income of $57 million in the prior quarter and a net loss of $318 million in the year-ago period. On an adjusted basis, excluding restructuring charges and the net gain on the Numonyx divestiture, ST reported second quarter 2010 net income of $159 million, or $0.18 diluted per share compared to $62 million, or $0.07 diluted per share in the first quarter of 2010.* For the 2010 second quarter, the effective average exchange rate for the Company was approximately $1.35 to euro 1.00 compared to $1.39 to euro 1.00 for the 2010 first quarter and $1.34 to euro 1.00 for the 2009 second quarter. Cash Flow and Balance Sheet Highlights Net operating cash flow was $212 million, including the sale of $67 million of receivables by ST-Ericsson, and increased significantly in comparison to the year-ago period total of $45 million. For the first half of 2010, net operating cash flow was $388 million.* Capital expenditures were $134 million during the second quarter of 2010 compared to $74 million in the year-ago period. For the 2010 first half, capital expenditures totaled $313 million, somewhat below the Company's targeted level, due to extended lead times for capital equipment. Inventory was $1.30 billion at quarter end, compared to $1.27 billion at March 27, 2010 and $1.45 billion at June 27, 2009. In the second quarter inventory turns improved to 4.8 compared to 4.6 and 4.1 in the prior and year-ago quarter, respectively. ________ (*)Adjusted net earnings, net operating cash flow, net financial position and RONA attributable to ST are non-U.S. GAAP measures. For additional information, please refer to Attachment A. Excluding Micron shares currently held as marketable securities, ST's net financial position significantly improved to a net cash position of $702 million at June 26, 2010 compared to $566 million at March 27, 2010 and $205 million at June 26, 2009. ST's cash and cash equivalents, short-term deposits, marketable securities (current and non-current, excluding Micron shares) and restricted cash equaled $2.73 billion. Excluding cash and cash equivalents and marketable securities of $40 million related to ST-Ericsson as consolidated by ST, $250 million restricted cash deposit as collateral for the Hynix-Numonyx loan and $57 million of non-current marketable securities, the Company's liquidity totaled $2.38 billion. Total debt was $2.03 billion. Total equity was $7.84 billion, including non-controlling interest of $1.04 billion. Based on net asset turns of approximately 1.5, the Company posted a return on net assets (RONA) attributable to ST in the second quarter of 11.9%.* Legal proceedings with respect to the collection of approximately $358 million due to ST by Credit Suisse pursuant to the FINRA award are continuing. First Half 2010 Results Net revenues for the first half of 2010 increased 32.9% to $4,856 million from $3,653 million in the year-ago period mainly due to significantly better industry conditions and good performance of the Company's customers and product portfolio. Gross margin was 38.0% of net revenues, compared to 26.2% of net revenues for the 2009 first half, reflecting significantly improved fab loading and performance of the product portfolio. Net income, as reported, was $413 million in the first half of 2010, or $0.46 diluted per share, compared to a net loss of $860 million, or $0.98 per share in the first half of 2009. On an adjusted basis, excluding impairment, restructuring charges and a net gain on equity investment divestiture, ST reported in the first half of 2010 a net income of $221 million, or $0.25 diluted per share compared to a first half of 2009 loss of $510 million, or $0.58 per share, both net of related taxes.* On a year-over-year basis, the effective average exchange rate for the Company was approximately $1.37 to euro 1.00 for the first half of 2010, compared to $1.33 to euro 1.00 for the first half of 2009. First Half 2010 Revenue and Operating Results by Product Segment ---------------------------------------------------------------- In Million US$ First Half 2010 First Half 2009 Product Segment Net Revenues Operating Net Revenues Operating Income Income (Loss) (Loss) ACCI 1,955 147 1,332 (99) IMS 1,755 228 1,110 (17) Wireless 1,112 (253) 1,169 (233) Others 34 (51) 42 (472) ------ --- --- --- ---- TOTAL 4,856 71 3,653 (821) ----- ----- --- ----- ---- Third Quarter 2010 Business Outlook Mr. Bozotti stated, "We expect sequential revenue growth of between 2% and 7%, which equates to solid growth of 13% to 19% when compared to the year-over-year period. Gross margin should improve to about 38.8%, plus or minus 1 percentage point. "As we did in the first half of 2010, we continue to increase capacity to support the strong demand of our customers and are encouraged by the quality of our backlog. ________________ (*)Adjusted net earnings, net operating cash flow, net financial position and RONA attributable to ST are non-U.S. GAAP measures. For additional information, please refer to Attachment A. "In addition, we made significant progress during the first half of 2010 with respect to enhancing our product portfolio, improving our financial performance and strengthening our financial position. Looking ahead to the second half of the year, we expect to see further positive progression in our performance." This outlook is based on an assumed effective currency exchange rate of approximately $1.32 = euro 1.00 for the 2010 third quarter, which reflects an assumed exchange rate of $1.23 = euro 1.00 combined with the impact of existing hedging contracts. The third quarter will close on September 25, 2010. Recent Corporate Developments On May 7, following the announcement by Micron Technology of the closing of its acquisition of Numonyx Holdings B.V., STMicroelectronics announced that in connection with the sale of its 48.6% stake in Numonyx, ST had received the following consideration: 66.88 million shares of Micron common stock, which are held as marketable securities. A substantial portion of such Micron shares is hedged; future full ownership of the Numonyx M6 facility in Catania, Italy, which ST has committed to contribute to a new photovoltaic joint initiative among Enel, Sharp and ST; and in connection with the transaction, ST has a payable of $77.8 million due to Francisco Partners at the end of the shares lock-up period. Also, at closing of this transaction, the senior credit facility that was supported by ST's guarantee of $225 million was repaid in full. On May 25, ST announced that all of the proposed resolutions were approved at the Company's Annual General Meeting (AGM), which was held in Amsterdam, the Netherlands, on May 25, 2010. The main resolutions, proposed by the Supervisory Board, and approved by shareholders were: Approval of the Company's 2009 statutory accounts reported in accordance with International Financial Reporting Standards (IFRS);The reappointment for a three-year term, expiring at the 2013 Annual General Meeting, for the following members of the Supervisory Board: Mr. Raymond Bingham and Mr. Alessandro Ovi; and The distribution of an annual cash dividend of US$0.28 per share, to be paid in four equal quarterly installments. On June 24, ST announced the publication of the Company's 2009 Corporate Responsibility Report. The report, which covers all of ST's activities and sites in 2009, contains detailed indicators of the Company's performance across the full range of Social, Environmental, Health & Safety, and Corporate Governance issues and reaffirms ST's long-established commitment to serving its stakeholders with integrity, transparency and excellence. Q2 2010 Products, Technology and Design Wins Automotive, Consumer, Computer and Communication Infrastructure (ACCI) Product Highlights In automotive electronics ST had continued success with its 32-bit Power Architecture® SPC56 family of automotive microcontrollers (MCUs) with:a major powertrain platform design win from a leading tier-one OEM, based on ST's recently announced 55nm (nanometer) embedded Flash technology;two body-control application design wins based on its SPC560B MCU family in North America; and a major design win in Europe for safety applications. Also in body electronics, ST's latest-generation VIPower(TM) (Vertical Intelligent Power) technology gained a design win for a light-control module from a major Korean car maker.Additionally, ST strengthened its leadership in advanced safety applications, in partnership with Mobileye, with the development of the third generation of its EyeQ3 safety processor with four times more computational power than the previous generation, plus support for USB, FlexRay and Ethernet communications.In automotive infotainment ST gained an important design win for its leading-edge multi-standard (AM/FM, DAB, HD) radio-receiver DSP from a major OEM in Germany targeting new platforms for a major car maker, expected to begin production in 2013. ST strengthened its leadership position in navigation with production deployment of its Cartesio+ processor SoC enabling cost-optimized dashboard systems combining navigation technology with infotainment features. In consumer applications In set-top box (STB) chips:ST gained significant design wins for its cost-effective integrated STi7162 / STi7167 platforms in terrestrial and cable STB markets, and for its STi7141 DOCSIS platform in Europe and China;ST delivered its first platforms for the DVB-T2 digital-terrestrial HDTV market in the UK, and delivered integrated DVB-S2 STi7111 platforms in large volume for HD+ / CI+ deployment in Central Europe;ST is ramping up in production of its STi5189 cost-optimised satellite demodulator and MPEG2 decoder platform for markets in India and Latin America, in addition to significantly contributing to the first deployment of HDTV STBs in India;By the end of Q2, cumulative shipments of ST's state-of-the-art 55nm STB platforms reached more than 10 million units.In integrated digital TV (iDTV) and monitor applications: ST gained several design-wins for an enhanced version of its FLI7510 SoC, which enables 3D TV in a single-chip for 120Hz mainstream iDTVs. The integration, processing power and flexibility of the 'Freeman' family of SoCs has allowed ST to gain traction in the integrated broadcast and broadband-Internet iDTV market.ST achieved two design-wins for its FLI326xx Faroudja(TM)-based display controllers for LCD TVs, and three design wins at tier-one customers for its high-end STDP802x Faroudja-based LCD-controller SoC family, which offers advanced color processing and DisplayPort and HDMI receivers.Additionally, ST's proposed iDP (internal DisplayPort) interface standard for use in next generation LCD TVs, in cooperation with LG Display, was adopted by VESA (The Video Electronics Standards Association).In audio ICs:ST strengthened its leadership position in flat-panel TVs for its family of Sound Terminal ICs, gaining design wins with two key players in China. Cumulative shipments in 2010 for Sound Terminal ICs have already exceeded 25 million units.ST announced production availability of an analog-input 2x100W class-D power amplifier, extending its range of devices that deliver audiophile sound quality. In communications infrastructure and computer peripheral applications ST announced full availability of a 32nm platform for the design and development of application-specific integrated circuits (ASICs) for networking applications. Central to the platform is the industry's first Serializer-Deserializer (SerDes) IP available in 32nm 'bulk' silicon.ST unveiled the SPEAr1300 architecture that will be the backbone for new members of its SPEAr® family of microprocessors, targeting high-performance connectivity and embedded applications. ST has already gained a design win for this family from a major communications-infrastructure OEM.ST gained two design wins for motor-controller ICs implemented in the Company's BCD technology from two leading customers, for next-generation enterprise and desktop hard-disk drive applications.Industrial and Multisegment Sector (IMS) Product Highlights In MEMS (Micro Electro-Mechanical Systems) Highlights includedseveral design wins for accelerometers with leading mobile device makers, who selected ST's MEMS because of the chip's extremely low current consumption and embedded motion processing features; design wins for 3-axis gyroscopes with several top-tier mobile phone makers;starting high-volume production of three-axis digital gyroscopes to be used in next-generation smartphones; and qualification from Japanese game manufacturer for two-axis analog gyroscopes. ST also introduced new products includingthe LIS3DH 3-axis digital-output accelerometer that combines drastically reduced power consumption, miniature footprint and enhanced functions; and the L3G4200DH high-performance three-axis digital-output gyroscope embedding power-management capabilities for new applications and advanced user interfaces in gaming, motion tracking and image stabilization.In high-performance analog ICs and other sensor devices ST gained design wins for its smart reset ICs from two leading mobile-phone makers and from an HDD maker for a pressure sensor.ST also launched several new devices includingan IC that simplifies the design of power management, monitoring and safety equipment, by allowing direct and accurate measurement of current in power lines operating at up to 70V;a super-small power-efficient digital temperature sensor allowing portable devices to benefit from features such as intelligent thermal protection.In power conversion ICs ST unveiled the SPV1020, the industry's first IC to combine important power-optimization and power-conversion functions for solar generators. ST's new FlexSPIN SPIbus-configurable multi-motor driver IC entered into full production.ST achieved key design wins from a major CFL (compact fluorescent lamp) manufacturer for a large European retail store chain and from a major worldwide appliance manufacturer for its new SmartDRIVE family. In addition, ST gained multiple design-ins from OEMs in the US and Asia for power devices for single-board computer designs. In power transistors ST dramatically increased achievable power density with its latest generation MDmesh(TM) V power MOSFETs with new advanced high-performance 1mm-high power package, developed in cooperation with Infineon. The new devices have already received first pre-production orders.ST gained design wins in automotive, lighting and other applications, orders for MDmesh V transistors for solar power inverter modules, and qualification at a major US plasma-generator maker and at several broadcast customers.In power rectifiers ST gained multiple design wins for its ULVF(TM) family of Schottky rectifiers, which offer high power density and an ultra-low forward voltage drop, boosting output power efficiency to meet eco-design initiatives such as 80 PLUS. In ESD (Electro-Static Discharge) protection and EMI filtering applications ST has accelerated the extension of its product range for ICs housed in ultra-compact packages, dedicated to portable applications such as mobile phones, displays and digital still cameras. These new packages can offer space saving up to 80% compared to market standards. In subsystem products ST gained a design win and initial orders for a turn-key Bluetooth-modem module for industrial and consumer markets. The device includes an STM32 MCU and STLC2500 Bluetooth IC and has the world's smallest form factor, only 10 x 13mm.In general-purpose microcontrollers (MCUs) ST announced sampling to lead customers of the STM32L series - the industry's first ultra-low-power ARM® Cortex(TM)-M3 microcontrollers. The STM32L series, which combines a dedicated low-leakage 130nm process technology and an optimized power-saving architecture to deliver industry-leading energy-saving performance, is part of ST's EnergyLite(TM) platform of ultra-low-power products. Full production started of the STM8L ultra low-power MCU family, also featuring ST's EnergyLite technology to minimize power consumption in all operating modes.ST revealed details of the new STM8T141 touch-sensor controller, which can improve the performance and styling of mobile products. The controller allows replacement of traditional buttons with a touch sensor for the power-on/off control or to trigger wake-up from battery-saving sleep modes.In secure ICs ST released details of the recent certification of the ST23YR80 secure dual MCU for formal EAL6+ Common criteria certification, delivering maximum protection for secure documents such as ID cards and biometric passports.Technology Highlights ST, IBM, Samsung and GLOBALFOUNDRIES announced collaboration to synchronize manufacturing facilities for the production of advanced chips based on 28nm process technology. Fab synchronization helps ensure chip designs can be produced at multiple sources with no redesign required.ST, Freescale, Infineon, NXP and Bosch's Automotive Electronics Division, announced the formation of a consortium to jointly investigate and standardize the acceptance of alternatives for high-lead solder for attaching die to semiconductor packages during manufacturing. The five-company consortium is known as the DA5 (Die Attach 5).ST-Ericsson Highlights ST-Ericsson announced: The introduction of its T6718 feature-rich mobile-internet platform, which enables the development of cost-effective and power-efficient multimedia TD-HSPA handsets aimed at the Chinese market; The expansion of its x500 family of smartphone platforms, which includes the U8500 and U5500, to enable mobile-device manufacturers to quickly develop a range of smartphones covering different price points and supporting different access technologies. Design wins for ST-Ericsson included: Two leading handset manufacturers chose ST-Ericsson's E49xx solution for entry phones.Samsung selected ST-Ericsson's multimedia EDGE platform, the E4908, to underpin its Champ (GT-C3300K) touch-screen handset, which was launched in Africa, the Middle East, Latin America, Asia and Europe. The E4908 is a cost-effective and highly integrated single-chip platform designed for high-value entry devices, equipped with excellent multimedia and connectivity features, such as a touch screen, a camera, a video player, full-speed USB, stereo Bluetooth and FM radio.The U6715 smartphone-for-all solution has been selected by four customers in Asia. Some of the customers are using the U6715 solution in multiple models. ST-Ericsson's connectivity portfolio is gaining further momentum in Asia. The Company's connectivity products have been adopted by two customers as part of the complete U8500 smartphone platform.ST-Ericsson also achieved multiple design wins for its M570 advanced modem solution, supporting HSPA+, and the M720, supporting LTE. It announced a partnership with Sagem Wireless for the commercial launch of multimode LTE/HSPA+ products during 2010. Nokia recently awarded ST-Ericsson a number of design-wins, selecting its HSPA+ and LTE modem solutions for new products, as well as new design wins related to the U8500 solution.All of STMicroelectronics' press releases are available at www.st.com/stonline/press/news/latest.htm. All of ST-Ericsson's press releases are available at www.stericsson.com/press/press_releases.jsp. VIPower, Faroudja, SPEAr, MDmesh and EnergyLite are trademarks of STMicroelectronics. All other trademarks or registered trademarks are the property of their respective owners. Use of Supplemental Non-U.S. GAAP Financial Information This press release contains supplemental non-U.S. GAAP financial information, including adjusted operating income (loss), adjusted net earnings (loss), adjusted net earnings (loss) per share, net operating cash flow and net financial position. Readers are cautioned that these measures are unaudited and not prepared in accordance with U.S. GAAP and should not be considered as a substitute for U.S. GAAP financial measures. In addition, such non-U.S. GAAP financial measures may not be comparable to similarly titled information by other companies. See Attachment A of this press release for a reconciliation of the Company's non-U.S. GAAP financial measures to their corresponding U.S. GAAP financial measures. To compensate for these limitations, the supplemental non-U.S. GAAP financial information should not be read in isolation, but only in conjunction with the Company's consolidated financial statements prepared in accordance with U.S. GAAP. Forward-looking information Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities Exchange Act of 1934, each as amended) that are based on management's current views and assumptions, and are conditioned upon and also involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those in such statements due to, among other factors: Significant changes in demand in the key application markets and from key customers served by our products, which make it extremely difficult to accurately forecast and plan our future business activities. In particular, following a period of significant order cancellations, we are currently experiencing a strong surge in customer demand, which has led to capacity constraints in certain applications;our ability to utilize and operate our manufacturing facilities at sufficient levels to cover fixed operating costs during periods of reduced customer demand, as well as our ability to ramp up production efficiently and rapidly to respond to increased customer demand, in an intensely cyclical and competitive industry, and the financial impact of obsolete or excess inventories if actual demand differs from our expectations;our ability to successfully integrate the acquisitions we pursue, in particular the successful integration and operation of the ST-Ericsson Wireless joint venture, which represents a significant investment and risk for our business; failure by ST-Ericsson to complete its on-going restructuring initiatives or to successfully compete in a rapidly changing market moving from hardware to more software-driven technology solutions, which may result in significant additional impairment and restructuring charges;our ability to compete in the semiconductor industry since a high percentage of our costs are fixed and are incurred in currencies other than U.S. dollars, especially in light of the volatility in the foreign exchange markets and, more particularly, in the U.S. dollar exchange rate as compared to the other major currencies we use for our operations;the outcome of ongoing litigation as well as any new litigation to which we may become a defendant; changes in our overall tax position as a result of changes in tax laws or the outcome of tax audits, and our ability to accurately estimate tax credits, benefits, deductions and provisions and to realize deferred tax assets;the impact of intellectual property ("IP") claims by our competitors or other third parties, and our ability to obtain required licenses on reasonable terms and conditions; product warranty or liability claims based on epidemic failures or recalls by our customers for a product containing one of our parts;our ability in an intensively competitive environment to secure customer acceptance and to achieve our pricing expectations for high-volume supplies of new products in whose development we have been, or are currently, investing;availability and costs of raw materials, utilities, third-party manufacturing services, or other supplies required by our operations; andchanges in the political, social or economic environment, including as a result of military conflict, social unrest and/or terrorist activities, economic turmoil, as well as natural events such as severe weather, health risks, epidemics, earthquakes, volcano eruptions or other acts of nature in, or affecting, the countries in which we, our key customers or our suppliers, operate. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of our business to differ materially and adversely from the forward-looking statements. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as "believes," "expects," "may," "are expected to," ", "should," "would be," "seeks" or "anticipates" or similar expressions or the negative thereof or other variations thereof or comparable terminology, or by discussions of strategy, plans or intentions. Some of these risk factors are set forth and are discussed in more detail in "Item 3. Key Information -- Risk Factors" included in our Annual Report on Form 20-F for the year ended December 31, 2009, as filed with the SEC on March 10, 2010. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed or expected. We do not intend, and do not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances. STMicroelectronics Conference Call and Webcast Information The management of STMicroelectronics will conduct a conference call and webcast on July 23, 2010 at 9:00 a.m. U.S. Eastern Time / 3:00 p.m. CET, to discuss its operating performance for the second quarter of 2010. The conference call and webcast will be available via the Internet by accessing: http://investors.st.com. Those accessing the webcast should go to the Web site at least 15 minutes prior to the call, in order to register, download and install any necessary audio software. The webcast and conference call will be available until July 30, 2010. About STMicroelectronics STMicroelectronics is a global leader serving customers across the spectrum of electronics applications with innovative semiconductor solutions. ST aims to be the undisputed leader in multimedia convergence and power applications leveraging its vast array of technologies, design expertise and combination of intellectual property portfolio, strategic partnerships and manufacturing strength. In 2009, the Company's net revenues were $8.51 billion. Further information on ST can be found at www.st.com. (Attachment A) STMicroelectronics Supplemental Non-U.S. GAAP Financial Information U. S. GAAP - Non-U.S. GAAP Reconciliation In Million US$ Except Per Share Data Readers are cautioned that the supplemental non-U.S. GAAP information presented in this press release is unaudited and subject to inherent limitations. Such non-U.S. GAAP information is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for U.S. GAAP measurements. Also, our supplemental non-U.S. GAAP financial information may not be comparable to similarly titled non-U.S. GAAP measures used by other companies. Further, specific limitations for individual non- U.S. GAAP measures, and the reasons for presenting non-U.S. GAAP financial information, are set forth in the paragraphs below. To compensate for these limitations, the supplemental non-U.S. GAAP financial information should not be read in isolation, but only in conjunction with our consolidated financial statements prepared in accordance with U.S. GAAP. Adjusted operating income (loss) is used by our management to help enhance an understanding of ongoing operations and to communicate the impact of the excluded items. Adjusted operating income (loss) excludes impairment, restructuring charges and other related closure costs. Adjusted operating income attributable to ST is calculated as reported operating income/loss before impairment and restructuring charges excluding 50% of ST-Ericsson JVS operating income/loss before restructuring. Adjusted operating margin attributable to ST is calculated as adjusted operating income attributable to ST over reported revenues excluding 50% of ST-Ericsson JVS revenues. Return on net assets (RONA) attributable to ST is calculated as annualized adjusted operating income attributable to ST overreported net assets excluding 50% of ST-Ericsson JVS net assets. Adjusted net earnings and earnings per share (EPS) are used by our management to help enhance an understanding of ongoing operations and to communicate the impact of the excluded items. Adjusted earnings exclude impairment, restructuring charges and other related closure costs attributable to parent Company's shareholders, the impact of equity investment divestiture, other-than-temporary impairment (OTTI) charges on financial assets, net of the relevant tax impact. In Q210, it also excludes the net gain related to the sale of Numonyx to Micron. The Company believes that these non-GAAP financial measures provide useful information for investors and management because they measure the Company's capacity to generate profits from its business operations, excluding the effect of acquisitions and expenses related to the rationalizing of its activities and sites that it does not consider to be part of its on-going operating results, thereby offering, when read in conjunction with the Company's GAAP financials, (i) the ability to make more meaningful period-to- period comparisons of the Company's on-going operating results, (ii) the ability to better identify trends in the Company's business and perform related trend analysis, and (iii) an easier way to compare the Company's results of operations against investor and analyst financial models and valuations, which usually exclude these items. Q2 2010 Gross Profit Operating Net Earnings Corresponding (US$ millions and Income EPS cents per share) (Loss) (Loss) (diluted) U.S. GAAP 968 91 356 0.39 ---- Impairment & Restructuring 12 8 Equity Investment Divestiture (265) Estimated Income Tax Effect 60 ---------------- --- Non-U.S GAAP 968 103 159 0.18 ------------ --- --- --- ---- Q1 2010 Gross Profit Operating Net Earnings Corresponding (US$ millions and cents per Income EPS share) (Loss) (Loss) (diluted) U.S. GAAP 876 (20) 57 0.06 ---- Impairment & Restructuring 33 20 Estimated Income Tax Effect (15) ---------------- --- Non-U.S GAAP 876 13 62 0.07 ------------ --- --- --- ---- Q2 2009 Gross Profit Operating Net Earnings Corresponding (US$ millions and cents per Income share) (Loss) (Loss) EPS U.S. GAAP 520 (428) (318) (0.36) ----- Impairment & Restructuring 86 74 Other-Than- Temporary- Impairment 13 Estimated Income Tax Effect (12) ----------- --- Non-U.S GAAP 520 (342) (243) (0.28) ------------ --- ---- ---- ----- (Attachment A - continued) Net financial position: resources (debt), represents the balance between our total financial resources and our total financial debt. Our total financial resources include cash and cash equivalents, net of bank overdrafts, if any, current and non-current marketable securities excluding Micron shares received in connection with the sales of Numonyx, short-term deposits and restricted cash, and our total financial debt includes the current portion of long-term debt and long-term debt, all as reported in our consolidated balance sheet. We believe our net financial position provides useful information for investors because it gives evidence of our global position either in terms of net indebtedness or net cash by measuring our capital resources based on cash, cash equivalents and marketable securities and the total level of our financial indebtedness. Net financial position is not a U.S. GAAP measure. Net Financial Position (in US$ millions) June 26, March 27, June 27, 2010 2010 2009 Cash and cash equivalents, net of bank overdrafts 1,268 1,423 1,685 Marketable securities, current (a) 1,094 1,037 759 Short-term deposits 62 0 0 Restricted cash 250 250 250 Marketable securities, non-current (a) 57 47 170 Total financial resources 2,731 2,757 2,864 ----- ----- ----- Current portion of long- term debt (802) (904) (174) Long-term debt (1,227) (1,287) (2,485) ------ Total financial debt (2,029) (2,191) (2,659) -------------------- ------ ------ ------ Net financial position 702 566 205 ---------------------- --- --- --- (a) Excludes Micron shares received in connection with the sale of Numonyx in Q210. Net operating cash flow is defined as net cash from operating activities minus net cash used in investing activities, excluding payment for purchases of and proceeds from the sale of marketable securities (both current and non-current), short-term deposits and restricted cash. We believe net operating cash flow provides useful information for investors and management because it measures our capacity to generate cash from our operating and investing activities to sustain our operating activities. Net operating cash flow is not a U.S. GAAP measure and does not represent total cash flow since it does not include the cash flows generated by or used in financing activities. In addition, our definition of net operating cash flow may differ from definitions used by other companies. Net Operating Cash Flow (in US$ millions) Q2 2010 Q1 2010 Q2 2009 Net cash from (used in) operating activities 361 393 156 Net cash from (used in) investing activities (300) (245) 111 Payment for purchases of (proceeds) from sale of current 151 28 (251) and non-current marketable securities and short-term deposits, net Net operating cash flow 212 176 16 ----------------------- --- --- --- Net operating cash flow (ex M&A) 212 176 45 -------------------------------- --- --- --- STMicroelectronics N.V. SELECTED CASH FLOW DATA ----------------------- Q2 Q1 Q2 Cash Flow Data (in US$ millions) 2010 2010 2009 -------------------------------- ----- ----- ----- Net Cash from operating activities 361 393 156 ---------------------------------- --- --- --- Net Cash from (used in) investing activities (300) (245) 111 -------------------------------------------- ---- ---- --- Net Cash used in financing activities (167) (264) (71) ------------------------------------- ---- ---- --- Net Cash increase (decrease) (155) (165) 205 ---------------------------- ---- ---- --- Q2 Q1 Q2 Selected Cash Flow Data (in US$ millions) 2010 2010 2009 ----------------------------------------- ----- ----- ----- Depreciation & amortization 309 310 335 ----------------------------------------- --- --- --- Payment for Capital expenditures (134) (179) (74) -------------------------------- ---- ---- --- Dividends paid to shareholders (62) (26) (34) ------------------------------ --- --- --- Change in inventories, net (75) (28) 245 -------------------------- --- --- --- STMicroelectronics N.V. CONSOLIDATED BALANCE SHEETS March December As at June 26, 27, 31, In million of U.S. dollars 2010 2010 2009 (Unaudited) (Unaudited) (Audited) ASSETS ====== Current assets: Cash and cash equivalents 1,268 1,423 1,588 Restricted cash 250 - - Short-term deposits 62 - - Marketable securities 1,557 1,037 1,032 Subordinated notes 78 - - Trade accounts receivable, net 1,442 1,426 1,367 Inventories, net 1,302 1,265 1,275 Deferred tax assets 177 216 298 Assets held for sale 29 30 31 Other receivables and assets 651 628 753 Total current assets 6,816 6,025 6,344 Goodwill 1,041 1,055 1,071 Other intangible assets, net 771 810 819 Property, plant and equipment, net 3,618 3,802 4,081 Long-term deferred tax assets 414 422 333 Equity investments 66 267 273 Restricted cash 0 250 250 Non-current marketable securities 246 47 42 Other investments and other non- current assets 300 471 442 6,456 7,124 7,311 Total assets 13,272 13,149 13,655 LIABILITIES AND SHAREHOLDERS' EQUITY ============================= Current liabilities: Current portion of long-term debt 802 904 176 Trade accounts payable 1,346 1,065 883 Other payables and accrued liabilities 1,197 1,064 1,049 Dividends payable to shareholders 185 - 26 Deferred tax liabilities 10 7 20 Accrued income tax 124 126 126 Total current liabilities 3,664 3,166 2,280 Long-term debt 1,227 1,287 2,316 Reserve for pension and termination indemnities 280 300 317 Long-term deferred tax liabilities 21 25 37 Other non-current liabilities 239 334 342 1,767 1,946 3,012 Total liabilities 5,431 5,112 5,292 Commitment and contingencies Equity Parent company shareholders' equity Common stock (preferred stock: 540,000,000 shares authorized, not issued; common stock: Euro 1.04 nominal value, 1,200,000,000 shares authorized, 910,339,305 shares issued, 881,251,879 shares outstanding) 1,156 1,156 1,156 Capital surplus 2,497 2,489 2,481 Accumulated result 2,828 2,778 2,723 Accumulated other comprehensive income 627 860 1,164 Treasury stock (308) (375) (377) ---- ---- ---- Total parent company shareholders' equity 6,800 6,908 7,147 Noncontrolling interest 1,041 1,129 1,216 Total equity 7,841 8,037 8,363 Total liabilities and equity 13,272 13,149 13,655 ------ ------ ------ STMicroelectronics N.V. Consolidated Statements of Income (in million of U.S. dollars, except per share data ($)) Three Months Ended ------------ (Unaudited) (Unaudited) ----------- ----------- June 26, June 27, 2010 2009 ---- ---- Net sales 2,507 1,970 Other revenues 24 23 NET REVENUES 2,531 1,993 Cost of sales (1,563) (1,473) GROSS PROFIT 968 520 Selling, general and administrative (302) (286) Research and development (593) (610) Other income and expenses, net 30 34 Impairment, restructuring charges and other related closure costs (12) (86) Total Operating Expenses (877) (948) OPERATING INCOME (LOSS) 91 (428) Other-than-temporary impairment charge on financial assets - (13) Interest income, net 1 1 Loss on equity investments and gain on investment divestiture 264 (49) Loss on financial instruments, net (8) - INCOME (LOSS) BEFORE INCOME TAXES 348 (489) AND NONCONTROLLING INTEREST Income tax benefit (expense) (66) 62 --- --- INCOME (LOSS) BEFORE NONCONTROLLING INTEREST 282 (427) Net loss attributable to noncontrolling interest 74 109 --- --- NET INCOME (LOSS) ATTRIBUTABLE TO PARENT COMPANY 356 (318) === ==== EARNINGS (LOSS) PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY SHAREHOLDERS 0.40 (0.36) EARNINGS (LOSS) PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY SHAREHOLDERS 0.39 (0.36) NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING 912.1 876.6 DILUTED EARNINGS (LOSS) PER SHARE STMicroelectronics N.V. Consolidated Statements of Income (in million of U.S. dollars, except per share data ($)) Six months ended ---------------- (Unaudited) (Unaudited) ----------- ----------- June 26, June 27, 2010 2009 ---- ---- Net sales 4,818 3,627 Other revenues 38 26 NET REVENUES 4,856 3,653 Cost of sales (3,011) (2,696) GROSS PROFIT 1,845 957 Selling, general and administrative (583) (566) Research and development (1,189) (1,168) Other income and expenses, net 43 98 Impairment, restructuring charges and other related closure costs (45) (142) Total Operating Expenses (1,774) (1,778) OPERATING INCOME (LOSS) 71 (821) Other-than-temporary impairment charge on financial assets - (72) Interest income, net 4 2 Loss on equity investments and gain on investment divestiture 259 (281) Loss on financial instruments, net (11) (8) INCOME (LOSS) BEFORE INCOME TAXES 323 (1,180) AND NONCONTROLLING INTEREST Income tax benefit (expense) (55) 157 --- --- INCOME (LOSS) BEFORE NONCONTROLLING INTEREST 268 (1,023) Net loss attributable to noncontrolling interest 145 163 --- --- NET INCOME (LOSS) ATTRIBUTABLE TO PARENT COMPANY 413 (860) === ==== EARNINGS (LOSS) PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY SHAREHOLDERS 0.47 (0.98) EARNINGS (LOSS) PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY SHAREHOLDERS 0.46 (0.98) NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING 913.2 875.5 DILUTED EARNINGS (LOSS) PER SHARE SOURCE STMicroelectronicsSource: RedOrbit News - Technology | 22 Jul 2010 | 3:12 pm Measuring the Earth's ForestsThe first global map of the heights of Earth's forests will help scientists fill gaps in their accounting of the planet's inventory of carbon dioxide.Source: Discovery News - Top Stories | 22 Jul 2010 | 3:09 pm AOL Offers New Mobile Portal, App - PC World
Source: Sci/Tech - Google News | 22 Jul 2010 | 3:01 pm Science Article Has Implications For All Rapidly Developing FieldsNIH struggle holds lessons for decision-makers in numerous research arenasGlobal climate change and other fast-developing scientific fields can take a cue from a prolonged process that eventually led to a workable compromise regarding the release of new data by human genome researchers.A new study by a Washington University in St. Louis School of Law professor in the July 23 issue of the journal "Science" chronicles a 15-year struggle around the competing needs inherent in data-release decisions.In the first comprehensive examination of its kind, Jorge Contreras, JD, explains that the U.S. government must weigh the rights of researchers, also called data producers, against those of data users. The scientific community needs the latest data as soon as possible in order to drive further research. But researchers may want time to prepare for publication and apply for patents.The result is a balancing act between the interests of these two groups. Although Contreras' study focuses on human genome research, the same dilemma holds true for research in many other areas of study."I think you must have a compromise. Otherwise these commons, or bodies of data, aren't going to be created," Contreras says.NASCENT FIELD DEMANDS NEW POLICIESAt the dawn of human genome research two decades ago, more than 1,000 researchers were working around the globe. To facilitate knowledge sharing, the U.S. government sought to coordinate their efforts.In the past, government-funded human genome researchers had a 12-to-18 month latency period between the generation of data and its required release.In 1992, the National Institutes of Health (NIH) and the Department of Energy (DOE) reduced that period to six months. Four years later, government and scientific leaders determined that six months was still too large a gap.They then decided that human genome research findings must be released prior to publication, within 24 hours after generation. The legacy of that determination, called the "Bermuda Accord," still affects genomic research projects today and makes it difficult for data generators to publish their findings before competitors who have free access to their data."While it would be preferable, from a pure scientific advancement standpoint, to have every piece of data released immediately to the public, that doesn't give data-generating scientists the opportunity to publish and advance their careers through publication," Contreras says.The agreement also inhibits the ability of researchers to obtain patents, as patents cannot be obtained on information that is already known to the public.COMPROMISE RESOLVES SOME PUBLISHING ISSUES, STILL THWARTS PATENTINGWith the arrival of the 21st century, genomic research began to evolve from sequencing to associating variants in the genome with specific traits and conditions, known as genome-wide association studies (GWAS). This development brought about a 2007 compromise decision, in which the NIH again altered its rules.The newer policy, which applies only to GWAS, still requires quick data release but it also prevents users from publishing the data or presenting related information for up to 12 months. The shift is significant in that GWAS now make up a large portion of human genome research.Still in effect, this set of rules allows GWAS researchers time to publish their own work. In the meantime, other scientists can use the data for their research and future publications.The 2007 policy does not improve the likelihood of scientists patenting their work, but that issue is secondary to publication for most researchers, according to Contreras.Contreras sees implications for his study in numerous scientific fields beyond genomics, including not only global climate change, but also chemistry and astronomy."As policy makers begin to develop commons in different areas, rather than going back to the drawing board and starting from scratch, they'll be able to look at this systematic analysis of how timing variables have played a role in genome science, and take it from there," Contreras says.---On the Net:Washington University in St. LouisScienceSource: RedOrbit News - Science | 22 Jul 2010 | 2:50 pm Amazon's Profit Rises 45%, but Results Miss Forecasts - New York Times
Source: Sci/Tech - Google News | 22 Jul 2010 | 2:50 pm Robot Learns to Flip PancakesA robot learning to flip pancakes from Sylvain Calinon on Vimeo. Flipping a pancake seems like one of those things you can do when you are just barely awake and still to get your morning caffeine. Not so, if you are a robot. Then learning how to flip a pancake is quite a task and it can take 50 tries to get it right. Two researchers at the Italian Institute of Technology–Petar Kormushev and Sylvain Calinon–taught a robot the technique. The robot needs to hold its hand stiff to throw the pancake in the air and then flex the hand so it can catch the pancake without having it bounced off the pan. Initially, one of the researchers holds the robot’s arm to show it how it is done, after which the robot tries it. For the demonstration, the researchers used an artificial pancake that’s solid and, as you can see in the video above, clunks every time it hits the pan or elsewhere. The robot itself is from Barrett Technology, a company that makes an advanced robotic arm called WAM. The WAM arm has near zero backflash or friction so it makes very smooth movements. It can have up to seven degrees of freedom so it offers a range of motions that’s similar to what a human arm can do. The researchers hope to present the learning from the robot’s efforts at a conference in October. And if you are wondering, what exactly this experiment has achieved, the answer involves the application of algorithms that help learn by imitation and reinforcement. Video credits: Petar Kormushev and Sylvain Calinon/Italian Institute of Technology See Also:
Source: Wired: Gadget Lab | 22 Jul 2010 | 2:41 pm Warmer Climate Entails Increased Release Of Carbon Dioxide By Inland LakesMuch organically bound carbon is deposited on inland lake bottoms. A portion remains in the sediment, sometimes for thousands of years, while the rest is largely broken down to carbon dioxide and methane, which are released into the atmosphere. Swedish researchers have shown that carbon retention by sediment is highly temperature-sensitive and that a warmer climate would result in increased carbon dioxide emissions to the atmosphere. The study is published in the current issue of the journal Nature.Particles of different kinds – including microscopic algae, other plankton and humus from surrounding land areas – are continuously deposited on lake bottoms. The breakdown of a portion of this matter by bacteria in the sediment contributes significantly to atmospheric carbon dioxide. Lake sediment nevertheless constitutes an important "carbon sink," serving to store – sometimes for a very long time – a significant portion of the carbon-containing material that does not decompose.To date, it has been unclear to what extent organic, carbon-containing material remains on lake bottoms, as opposed to being broken down. A group of researchers under the leadership of Professor Lars Tranvik at the Department of Limnology at Uppsala University has found a strong connection between the carbon dioxide production of lake sediment and bottom-water temperature."What we have discovered is that a very similar temperature-dependence relationship holds for a wide range of lake-sediment types," says doctoral student Cristian Gudasz, who was responsible for data collection and evaluation. "Temperature affects carbon-dioxide production in much the same way regardless of a lake's nutrient content and geographic location and the chemical composition of the sediment."The discovery of a broadly robust temperature-dependence relationship set the stage for an investigation of the effect of temperature on lake sediment in the boreal forest zone that runs through Eurasia and North America and contains millions of lakes. The annual rate at which bound carbon is deposited as sediment in the lakes of the boreal zone will fall by 4-27 per cent, depending on which climate forecasts are borne out, over the next hundred years. The production of carbon dioxide by lake sediment will increase correspondingly, resulting in higher levels of emissions to the atmosphere.It is becoming increasingly clear that inland water systems play an important role in the global carbon cycle, in spite of the fact that they only cover 3 percent of the land area of the Earth. The study under consideration demonstrates how the role of inland water systems can be expected to change in response to climate change.---On the Net:Uppsala UniversityNatureSource: RedOrbit News - Science | 22 Jul 2010 | 2:38 pm Scientists Discover How Deadly Fungal Microbes Enter Host CellsA research team led by scientists at the Virginia Bioinformatics Institute (VBI) at Virginia Tech has discovered a fundamental entry mechanism that allows dangerous fungal microbes to infect plants and cause disease. The discovery paves the way for the development of new intervention strategies to protect plant, and even some animal cells, from deadly fungal infections. The findings are published in the July 23 edition of the journal Cell.The researchers have revealed how special disease-related proteins, known as effectors, blaze a trail into cells. Fungi and fungal-like microbes known as oomycetes produce effector molecules that penetrate cells and switch off the host's defense system. Once the host's immune system has been disabled, the fungus or oomycete swiftly follows up, breaking and entering the cell and unleashing disease.The pathogens in question, which include the microbe that caused the Irish potato famine in the nineteenth century, cause billions of dollars of losses for commercial farmers worldwide in crops such as soybean. They are also responsible for potentially fatal infectious diseases in humans.Said Brett Tyler, professor at VBI and the leader of the project, "Our breakthrough finding is that these dangerous disease-causing proteins must bind a specific lipid molecule found on the cell surface before they can enter the cell."In a previous study, Tyler and other researchers had pinpointed specific regions of the effector proteins that are intimately involved in breaking and entry of the cell. The new study shows that these regions on the effector proteins bind the lipid phosphatidylinositol 3-phosphate and that this binding is essential for the proteins to enter the cells. Adds Tyler, "The nasty proteins enter by hitching a ride on a lipid raft, a region of the cell's outer membrane that can be internalized by the cell. The lipid acts as a bridge between the effector protein and the raft, and in doing so help to unlock the door for entry of the disease-causing proteins into the cell."Intriguingly, the researchers have also identified two methods to block the entry process that could lead to new disease interventions against infection in medicine and agriculture. Shiv Kale, a graduate student at VBI and one of the lead authors on the study, remarked: "We were able to block the entry process of the disease-related proteins using two types of inhibitors. The first group of inhibitors covers the lipid so that the pathogen cannot get access to it. The second jams the site on the protein that normally binds the lipid."The scientists were also able to show that the entry process into some human cells takes place by the same mechanism. Said VBI Associate Professor Chris Lawrence, who collaborated on the study, "Our finding that the entry of the effectors into human cells can be blocked with small molecules suggest that it may be possible to find new strategies to combat several debilitating human diseases, in addition to treating plant diseases."---On the Net:Virginia TechSource: RedOrbit News - Science | 22 Jul 2010 | 2:35 pm Rumor: Verizon’s FiveSpot hotspot modem to launch next month along with 5GB of prepaid data for $80Section: Communications, Cellular Providers, Broadband Cards, Mobile  More rumors on the Verizon front, this time they are dealing with prepaid data and the FiveSpot mobile hotspot modem. According to the details of the rumor, both are expected to come available sometime in late August. Or more specifically the data rumors are suggested for August 23rd. As for what may be coming, a larger prepaid data plan. As of now the prepaid data offerings from Verizon come in two flavors—100MB and 1GB. But what if you want more, well, Verizon may have a 5GB option which will set you back $80 per month. Otherwise, the FiveSpot mobile hotspot modem that was recently revealed should be coming available. Though at present the rumors have not mentioned any exact date. That said, it looks like this device, the one you see in the image above will replace the current MiFi. No word yet on how much the FiveSpot will be selling for, but given its expected to replace the MiFi its logical to think it will be similarly priced—$49.99 on a two year agreement. Via [Engadget]
Full Story » | Written by Robert Nelson for Gadgetell. | Comment on this Article » Source: Gadgetell | 22 Jul 2010 | 2:33 pm Why Designers Hate CrowdsourcingAn anonymous reader writes "Since Wired's Jeff Howe coined the term in 2006, 'crowdsourcing' has been a buzzword in the tech industry, and a business model on the rise. 99designs.com is a site that hosts design contests for small businesses requiring relatively smaller design projects. Anyone can submit their near finished pieces of work to the contests, but only one winner gets paid. Forbes covers just why established graphic designers are so angry at this business model's catching on."
Read more of this story at Slashdot.
Source: Slashdot | 22 Jul 2010 | 2:33 pm DemandTec Announces Fifth Annual Scholarship Competition and Charter SponsorsSAN MATEO, Calif., July 22 /PRNewswire-FirstCall/ -- DemandTec, Inc. (Nasdaq: DMAN), a global leading provider of predictive merchandising, marketing, trade, and shopper analytics solutions for the retail value chain, today announced the details of its fifth annual DemandTec Retail Challenge, a nationwide scholarship competition incorporating math, science, and business disciplines for high school students. The goal of the DemandTec Retail Challenge is to raise awareness of applied math, science, and business concepts among high school students. The competition is conducted through an online business simulation where high school seniors compete for scholarship awards toward the college of their choice. "Statistics show that American students experience a sharp drop-off in math and science skills after elementary school, and our goal is to promote interest in these two critical subjects," said Dan Fishback, DemandTec's President and Chief Executive Officer. "The DemandTec Retail Challenge is our way of educating high school students on why math and science matter in the business world and the many career choices available to them if they continue their studies in these areas." Presented with the sales, pricing, merchandising, and inventory history of a hypothetical assortment of retail products for a fictional retailer, teams are responsible for maximizing that retailer's profits by making daily pricing and inventory decisions. Using a modified version of DemandTec retail analytic software, students use historical data to create statistical models of consumer behavior and then make decisions each day as they are given additional information. Inventory lead times vary by product, like those in the real world of retail, requiring students to plan accordingly. At the end of a two-week simulation, each team's pricing and purchase decisions are evaluated, and the three teams in each region with the highest profits advance to the Regional Finals, where they present their analysis to a panel of judges. For the second straight year NASDAQ will be hosting the DemandTec Retail Challenge at NASDAQ OMX Stock Market in New York City on January 10, 2011, where the top 10 regional winning teams will compete in a Grand Championship round for the chance to win an additional scholarship prize and ring the NASDAQ closing bell. "We are excited to be hosting the DemandTec Retail Challenge Grand Championship round again this year. Last year's students worked so intensely on their simulation, and having them be part of the closing bell ceremony was a truly enriching experience for not only the students but also for members of the NASDAQ team," said Bruce Aust, Executive Vice President, Corporate Client Group for NASDAQ OMX. The regional rounds of the DemandTec Retail Challenge are supported by corporate and individual sponsors. To date, DemandTec has secured four regional sponsors, including Giant Eagle, Netezza, Target Corporation, and Tops Markets. The deadline for participating as a sponsor is August 30, 2010 and becoming a sponsor requires only a minimal financial and time investment. "We are thrilled to contribute to such an important corporate citizenship program," said Stephanie White, Vice President of Sales Systems & Operations for Giant Eagle Inc. "The DemandTec Retail Challenge is a unique program that incorporates real world business experience and learning, with collaboration and fun." Originating in 2005, the DemandTec Retail Challenge began as a local competition in the San Francisco Bay Area and has flourished to a nationwide event. Since its inception, more than $100,000 in scholarship money has been awarded. Learn more about the DemandTec Retail Challenge and how to become a sponsor, or register for a free informative webinar scheduled on July 28, 2010 at 11:00am Pacific, 2:00pm Eastern. Twitter: twitter.com/RetailChallenge Facebook: facebook.com/DTRetailChallenge About DemandTec DemandTec (NASDAQ: DMAN) enables retailers and consumer products companies to optimize merchandising and marketing decisions, individually or collaboratively, to achieve their sales volume, revenue, shopper loyalty, and profitability objectives. DemandTec software services utilize DemandTec's science-based software platform to model and understand consumer behavior. DemandTec customers include more than 230 leading retailers and consumer products manufacturers such as Ahold USA, Best Buy, ConAgra Foods, Delhaize America, General Mills, H-E-B Grocery Co., Hormel Foods, Monoprix, PETCO, Safeway, Sara Lee, Target, The Home Depot, Wal-Mart and WH Smith. Connected via the DemandTec TradePoint Network(TM), DemandTec customers have collaborated on over 3.2 million trade deals. Media Contact: Armen Najarian, DemandTec, Inc. (650) 645-7170 armen.najarian@demandtec.com Investor Contact: Tim Shanahan, DemandTec, Inc. (650) 645-7103 tim.shanahan@demandtec.com SOURCE DemandTec, Inc.Source: RedOrbit News - Technology | 22 Jul 2010 | 2:32 pm Cymer Reports Second Quarter 2010 Operating ResultsSAN DIEGO, July 22 /PRNewswire-FirstCall/ -- Cymer, Inc. (Nasdaq: CYMI), the world's leading supplier of light sources used by chipmakers to create advanced semiconductor chips, today announced operating results for the second quarter ended June 30, 2010. (Logo: http://photos.prnewswire.com/prnh/20090406/LA94420LOGO) (Logo: http://www.newscom.com/cgi-bin/prnh/20090406/LA94420LOGO) For the second quarter of 2010: net income totaled $21,212,000 equal to $0.70 per share (diluted), compared to net income of $525,000, equal to $0.02 per share (diluted) in the second quarter of 2009 and net income of $16,005,000, equal to $0.53 per share (diluted), in the first quarter of 2010. revenue totaled $131,864,000 compared to revenue of $62,433,000 in the second quarter of 2009, and revenue of $113,781,000 in the first quarter of 2010.Commenting on second quarter results, Bob Akins, Cymer's chief executive officer, said, "Second quarter revenue increased 16 percent over the first quarter of 2010. The increase was attributable to higher light source sales, increased pulse utilization, a larger percentage of ArF pulses, and the first TCZ silicon crystallization tool sale. Customer adoption of OnPulse continued to increase, and we now have over 50 percent of our active installed base under OnPulse coverage. We are pleased with the selections of the XLR600ix for immersion lithography in all three chipmaking sectors and we shipped our first extreme ultraviolet (EUV) pilot source to ASML in April," said Akins. "This month, we announced the introduction of the world's first field-selectable 30 to 50 watt KrF light source, the ELS 7010x. We also shipped our second EUV pilot source to ASML, and a second TCZ silicon crystallization tool to another display maker in Asia," concluded Akins. In the second quarter of 2010, the company shipped 30 light sources, of which 20 were ArF immersion and 10 were KrF. The company installed 30 light sources at chipmaker locations during the quarter. The company reported gross profit of $69.5 million for the second quarter of 2010, yielding a 53 percent gross margin. Total operating expenses, which include research and development and selling and administrative expenses, were $38.3 million. In the second quarter, the company continued to increase its investment in EUV source development and commercialization. Total operating income was $31.2 million or approximately 24 percent of revenue. The second quarter effective tax rate was 32 percent. As of June 30, 2010, cash and investments totaled $154.0 million. Deep ultraviolet (DUV) bookings for the second quarter of 2010 totaled $139.6 million, resulting in a book-to-bill ratio of 1.09. Seventy one percent of the light source bookings in the second quarter were ArF immersion and 24 percent were KrF. The company ended the quarter with a DUV backlog of approximately $55.6 million, with ArF immersion light sources comprising approximately 90 percent of the value of sources in backlog. Company Outlook Commenting on the outlook, Akins stated, "Chipmakers in all three sectors continue to increase their technology and capacity investment in ArF immersion lithography as well as KrF capacity additions as they expand factory capability and utilization. We believe our Installed Base Products and DUV light sources are well positioned to capture an increased share of this investment. Our EUV investment is focused on ongoing performance improvement and delivery of additional pilot sources to ASML, integrating these sources into their EUV scanners, and ensuring field readiness to support sources at chipmaker sites, as well as beginning the initial design of our next generation EUV source for higher volume manufacturing." Based on information available at this time, Cymer is providing the following guidance for the third quarter of 2010: Revenue to be in the range of $132 to $138 million. Gross margin to be approximately 51 percent. R&D expenses to be approximately $25 million.SG&A expenses to be approximately $17 million.The effective tax rate to be approximately 32 percent.Cymer's management will hold a conference call at 2:00 pm (PDT) today, July 22, 2010, to discuss second quarter 2010 operating results and third quarter 2010 guidance. This press release, the conference call and accompanying slides may be accessed on the investor relations page of the company's Web site at www.cymer.com. Forward Looking Statements Statements in this press release that are not strictly historical in nature are forward-looking statements. These statements include, but are not limited to statements regarding the continuing increased adoption of OnPulse, the continuing increased investment in EUV source commercialization and development, the industry's transition to EUV lithography and the statements under the caption "Company Outlook" above. These statements are predictions based on current information and expectations and involve a number of risks and uncertainties. In addition, statements regarding backlog and book-to-bill ratios should not be read as predictions or projections of future performance. Actual events or results may differ materially from those projected in any of such statements due to various factors, including but not limited to: the demand for semiconductors in general, and, in particular, for leading-edge devices with smaller geometries; cyclicality in the market for semiconductor manufacturing equipment; the timing of customer orders, shipments and acceptances; delays or cancellations by customers of their orders; the performance and market acceptance of the company's new products or technologies; new and enhanced product offerings by competitors; the company's ability to meet its production and product development schedules; the rate at which semiconductor manufacturers adopt new technologies and purchase and take delivery of photolithography tools from the company's customers; the company's ability to secure adequate supplies of critical components for its advanced products; the company's ability to manage its expense levels and unanticipated expenses; the company's ability to achieve its forecasted gross margin which includes its ability to absorb manufacturing costs; the company's ability to align its cost structure with forecasted business levels; the company's ability to manage its foreign currency exposure; the performance and conditions in the United States and world financial markets; the policies and actions of the United States and other governments; and general economic conditions. For a discussion of these and other factors which may cause our actual events or results to differ from those projected, please refer to the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q, as well as other subsequent filings with the Securities and Exchange Commission (SEC). You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release. About Cymer Cymer, Inc. (Nasdaq: CYMI) is the market leader in developing light sources, used by chipmakers worldwide to pattern advanced semiconductor chips. Cymer's light sources have been widely adopted by the world's top chipmakers and the company's installed base comprises approximately 3,300 systems. Continuing its legacy of leadership, Cymer is currently pioneering the industry's transition to EUV lithography, the next viable step on the technology roadmap for the creation of smaller, faster chips. The company is headquartered in San Diego, Calif., and supports its customers from numerous offices around the globe. Cymer maintains a Web site to which it regularly posts press releases, SEC filings, and additional information about Cymer. Interested persons can also subscribe to automated e-mail alerts or RSS feeds. Please visit www.cymer.com. Cymer and all other Cymer product or service names used herein are either registered trademarks or trademarks of Cymer, Inc. Any other marks mentioned herein are the property of their respective holders. CYMER, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) Three Months Ended June 30, -------- 2010 2009 Revenues: Product sales $131,864 $62,319 Product sales -related party - 114 --- --- Total revenues 131,864 62,433 ------- ------ Cost of revenues 62,373 38,311 ------ ------ Gross profit 69,491 24,122 ------ ------ Operating expenses: Research and development 21,617 14,285 Sales and marketing 6,332 3,947 General and administrative 10,346 6,430 Restructuring - - --- --- 0 Total operating expenses 38,295 24,662 ------ ------ Operating income (loss) 31,196 (540) ------ ---- Other income (expense): Foreign currency exchange gain (loss) (160) 455 Interest and other income 173 418 Interest and other expense (139) (90) ---- --- Total other income (expense) -net (126) 783 ---- --- Income (loss) before income tax expense (benefit) 31,070 243 ------ --- Income tax expense (benefit) 9,858 452 ----- --- Net income (loss) $21,212 ($209) ======= ===== Net loss attributable to noncontrolling interest in subsidiary - 734 --- --- Net income (loss) attributable to Cymer, Inc. $21,212 $525 ------- ---- Earnings (loss) per share: Basic earnings (loss) per share $0.71 $0.02 Weighted average common shares outstanding- basic 29,716 29,680 ====== ====== Diluted earnings (loss) per share $0.70 $0.02 ----- ----- Weighted average common shares outstanding- diluted 30,127 29,845 ====== ====== Six Months Ended June 30, -------- 2010 2009 Revenues: Product sales $245,645 $118,614 Product sales -related party - 318 --- --- Total revenues 245,645 118,932 ------- ------- Cost of revenues 119,338 73,269 ------- ------ Gross profit 126,307 45,663 ------- ------ Operating expenses: Research and development 41,502 32,728 Sales and marketing 11,466 7,910 General and administrative 19,557 13,674 Restructuring - 8,407 --- ----- Total operating expenses 72,525 62,719 ------ ------ Operating income (loss) 53,782 (17,056) ------ ------- Other income (expense): Foreign currency exchange gain (loss) (56) (1,478) Interest and other income 313 1,021 Interest and other expense (316) (853) ---- ---- Total other income (expense) -net (59) (1,310) --- ------ Income (loss) before income tax expense (benefit) 53,723 (18,366) ------ ------- Income tax expense (benefit) 16,654 (6,061) ------ ------ Net income (loss) $37,069 ($12,305) ======= ======== Net loss attributable to noncontrolling interest in subsidiary 148 1,343 --- ----- Net income (loss) attributable to Cymer, Inc. $37,217 ($10,962) ------- -------- Earnings (loss) per share: Basic earnings (loss) per share $1.25 ($0.37) Weighted average common shares outstanding- basic 29,856 29,664 ====== ====== Diluted earnings (loss) per share $1.23 ($0.37) ----- ------ Weighted average common shares outstanding- diluted 30,194 29,664 ====== ====== CYMER, INC. CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) ----------- June 30, December 31, 2010 2009 ---- ---- ASSETS Current assets: Cash and cash equivalents $78,809 $118,381 Restricted cash 4,984 1,200 Short-term investments 75,231 62,895 Accounts receivable - net 114,380 76,792 Accounts receivable -related party - 732 Inventories 202,966 185,077 Deferred and prepaid income taxes 48,035 45,689 Prepaid expenses and other assets 14,301 12,121 ------ ------ Total current assets 538,706 502,887 Property and equipment-net 102,066 106,755 Long-term investments - 5,167 Deferred income taxes 29,652 26,998 Goodwill 8,833 8,833 Intangible assets-net 7,986 8,327 Other assets 5,200 5,951 ----- ----- Total assets $692,443 $664,918 ======== ======== LIABILITIES Current liabilities: Accounts payable $31,908 $21,756 Accounts payable -related party 127 9,284 Accrued warranty 11,985 16,640 Accrued payroll and benefits 22,726 16,434 Deferred and accrued income taxes 5,191 12,363 Deferred revenue 20,810 22,339 Accrued and other current liabilities 11,527 4,807 ------ ----- Total current liabilities 104,274 103,623 Accrued income taxes 14,612 11,562 Deferred revenue 681 525 Other liabilities 6,324 7,570 Total liabilities 125,891 123,280 ======= ======= EQUITY Cymer, Inc. stockholders' equity: Preferred stock - - Common stock 43 43 Additional paid-in capital 607,788 598,314 Treasury stock at cost (492,890) (473,580) Accumulated other comprehensive loss (8,356) (8,280) Retained earnings 459,967 422,750 ------- ------- Total Cymer, Inc. stockholders' equity 566,552 539,247 Noncontrolling interest - 2,391 --- ----- Total equity 566,552 541,638 ------- ------- Total liabilities and equity $692,443 $664,918 ======== ======== CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (unaudited) Six months Ended June 30, -------- 2010 2009 Operating activities: Net income (loss) $37,069 ($12,305) Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Depreciation and amortization 9,789 11,672 Stock-based compensation 5,180 2,169 Bad debt expense (696) 1,218 Excess tax benefits from stock option exercises (1,370) (42) Provision for deferred income taxes (3,669) 493 Loss on disposal or impairment of property and equipment 61 584 Change in assets and liabilities: Restricted cash (3,754) - Accounts receivable (36,676) 16,637 Accounts receivable -related party 732 546 Inventories (17,745) 18,358 Prepaid expenses and other assets (1,434) 1,108 Income taxes receivable - (9,085) Accounts payable 12,520 (4,071) Accounts payable -related party (9,157) (763) Accrued expenses and other liabilities 5,998 (20,959) Deferred revenue (1,362) (1,173) Income taxes payable and accrued income taxes (3,895) (2,146) ------ ------ Net cash (used in) provided by operating activities (8,409) 2,241 ------ ----- Investing activities: Acquisition of property and equipment (7,879) (4,063) Purchases of investments (57,880) (26,147) Proceeds from sold or matured investments 50,659 22,329 ------ ------ Net cash used in investing activities (15,100) (7,881) ------- ------ Financing activities: Proceeds from issuance of common stock 3,017 1,360 Purchase of non-controlling interest (1,456) - Repayment of convertible subordinated note - (140,722) Excess tax benefits from stock option exercises 1,370 42 Repurchase of common stock into treasury (19,310) - ------- --- Net cash used in financing activities (16,379) (139,320) ------- -------- Effect of exchange rate changes on cash and cash equivalents 316 (1,982) --- ------ Net decrease in cash and cash equivalents (39,572) (146,942) Cash and cash equivalents at beginning of the period 118,381 252,391 ------- ------- Cash and cash equivalents at end of the period $78,809 $105,449 ======= ======== Supplemental disclosure of cash flow information: Interest paid $196 $2,654 ==== ====== Income taxes paid $24,143 $5,990 ======= ====== Supplemental disclosure of non cash operating, investing and financing activities: Net (decrease) increase in acquisition of property and equipment included in accounts payable ($2,268) $330 ======= ==== Net (decrease) increase in in- transit proceeds from issuance of common stock ($81) $45 ==== === SOURCE Cymer, Inc.Source: RedOrbit News - Technology | 22 Jul 2010 | 2:25 pm Laplink® Releases Classic Software Updated for Windows® 7BELLEVUE, Wash., July 22 /PRNewswire/ -- Laplink Software has released its updated version of Laplink Gold®, improving the classic software for Windows 7 and 64-bit users, including the ability to remotely control and interact with PCs through firewalls and proxy settings automatically. Now compatible with any 64-bit Windows operating system, Laplink Gold for Windows 7 features an updated version of the Remote Control option for improved connections with versions of Windows that do not support remote connectivity. The updated version also features a new Laplink Remote Desktop, which allows screen sharing between PCs for improved interactive remote sessions. "This release has been much anticipated by Laplink and our customers," said Laplink CEO Thomas Koll. "We're excited to bring the benefits of our Laplink Gold product to Windows 7 users." A new feature, Laplink Remote Desktop, allows for connection to PCs running Laplink Gold and Windows (XP and later) with screen sharing. Of course users will still have the choice of a previously existing remote control option. The updated software also uses Laplink patented SpeedSync® and SmartXChange® technologies to synchronize files and folders quickly and easily. After the initial synchronization, SpeedSync will transfer only the changed portion of a file for each future sync, making the transfer as fast as possible. SmartXChange provides fast and easy bi-directional sync between folders where only the newest file is transferred, so that each PC has the most current version of the file. Laplink has been the industry standard for remote PC connectivity since it introduced the first bi-directional parallel cable communications in 1989. With Laplink Gold, users are able to automatically back up or synchronize files and folders, quickly transfer files of any size from one PC to another, remotely control, support and maintain their PCs from anywhere, even remotely restart. Laplink Gold works no matter where you are or where your PCs are. "Today, it is imperative for PC users to have safe and secure access to all of their PCs or servers from anywhere," continued Koll. "Now, more than ever, our customers will have complete access and control when they need it most." Laplink Gold for Windows 7 is priced at $89.95 (79.95 EUR, 56.95 GBP) and is available at www.laplink.com and soon from most major software retailers. Users of older versions are eligible to purchase an upgrade for only $69.95 (59.95 EUR, 39.95 GBP). About Laplink Software, Inc. For nearly 30 years, Laplink has been the leader in providing software used for PC migration, remote access, file transfer, and synchronization. The privately-held company was founded in 1983 and is headquartered in Bellevue, Washington. Additional information and images can be found online at Laplink's Media Center: http://www.laplink.com/media. SOURCE Laplink SoftwareSource: RedOrbit News - Technology | 22 Jul 2010 | 2:23 pm Consumer Watchdog Repeats Request for Google Wi-Spy Hearing in Congressional Testimony About Federal Use of Web 2.0 TechnologyWASHINGTON, July 22 /PRNewswire-USNewswire/ -- Consumer Advocate John M. Simpson today repeated Consumer Watchdog's call for Congressional hearings into the Google Wi-Spy scandal during testimony about federal agency use of Web 2.0 technology. The hearing was before the Subcommittee on Information Policy, Census and National Archives of the House Committee on Oversight and Government Reform. Noting that the nonpartisan, nonprofit public interest group has urged the House Energy and Commerce Committee to hold hearings, Simpson said, "We have called for Congressional hearings into the scandal and I respectfully repeat that request today." Turning to federal agency use of Web 2.0 - such services as Google's YouTube, Facebook and Twitter -- he said the technology offers "powerful and valuable tools," but added a caveat. "They should be used carefully, however, without unduly favoring a particular provider and there must be explicit warnings when a consumer leaves an official government site," Simpson said. "Most importantly, however, Congress must enact meaningful privacy legislation to safeguard consumers as they use these online services that have become known as Web 2.0.. During his opening remarks Simpson made three points: "First, as I saw personally when I took vacation time to campaign for Barack Obama in Missouri, Web 2.0 tools are powerful indeed. It is no surprise they have been adopted by federal agencies. They certainly improve government transparency, responsiveness and citizen involvement. I think they are particularly attractive to young people. All this is to the good. "Second, on the downside, many of these technologies raise substantial challenges to consumers' privacy. Given the appalling track record of Facebook and Google in this area -- one only need to think of Wi-Spy and the launch of Google Buzz or Facebook's unilateral revision of privacy policies -- to see that these companies do not have consumer privacy high on their list of priorities. Consumer Watchdog, formerly the Foundation for Taxpayer and Consumer Rights is a nonprofit, nonpartisan consumer advocacy organization with offices in Washington, DC and Santa Monica, Ca. Consumer Watchdog's website is www.consumerwatchdog.org. Visit our new Google Privacy and Accountability Project website: http://insidegoogle.com. SOURCE Consumer WatchdogSource: RedOrbit News - Technology | 22 Jul 2010 | 2:22 pm Family Chats Can Help Students Learn, Especially In Richer CountriesTaking the time to talk to your children about current events like the Gulf Oil spill -- and using mathematical terms to do so – can help students develop better reasoning and math skills and perform better in school, according to a study by a University at Buffalo professor."When families chat about societal issues, they often create simple mathematical models of the events," says Ming Ming Chiu, a professor of learning and instruction at UB's Graduate School of Education with extensive experience studying how children from different cultures and countries learn. "Unlike casual chats, these chats about societal issues can both show the real-life value of mathematics to motivate students and improve their number sense."The findings, published in the current issue of Social Forces, an international journal of sociology, was the first international study on how conversations among family members affect students' mathematical aptitude and performance in school. Chiu's findings were based on data from the Organization for Economic Cooperation and Development; its Program for International Student Assessment collected almost 110,000 science test scores and questionnaires from 15-year-olds from 41 countries, including 3,846 from the U.S.Interestingly, Chiu found that family chats about society and current events are uncommon, regardless of ethnic background or level of affluence. "They occur less than once a month for 58 percent of the children in the 41 countries," he says. "Students in richer countries, richer families, or with two parents do not have more family chats about societal issues than other students do."However, Chiu's findings conclude that the impact of chats and other family involvement is much greater in more affluent countries than those in developing countries. So these discussions often do more good in families within richer countries."In rich countries, most students have rulers, books, calculators and other physical resources, but they do not spend much time with their parents (family involvement)," he says, "So family involvement becomes more important to student learning in richer countries."Chiu, whose previous published research includes how overconfidence can stunt reading skills among teenagers, used the data to make the following recommendations for parents and teachers:• Chat with children about current social and political events. Chiu suggested creating simple mathematical models of current events ("The BP oil spill leaks 1 ½ million gallons of oil a day for 80 days. Half of 80 is 40, so 1 ½ times 80 is 80 plus 40 or 120 million gallons of oil spilling into the gulf."). These models or meaningful computations allow children to use their basic math skills in a concrete way that not only gets them to practice their math faculties, but also shows how math can help put the world in a more understandable context.• Use familiar terms to describe quantities. For example, ask children to estimate how many gallons it would take to fill up their house, apartment or swimming pool.• Ask for and listen to children's ideas about current events. Chiu says the research suggests that children's reasoning skills improve when their parents ask them what they would do if they faced a similar situation. ("How would you solve the oil spill?") Can they explain their decisions? ("Does burning the oil help?") Can they compare the real costs of different solutions? ("Does it cost less to burn the oil or use booms to contain it?")The University at Buffalo is a premier research-intensive public university, a flagship institution in the State University of New York system and its largest and most comprehensive campus. UB's more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.---On the Net:University at BuffaloSocial ForcesSource: RedOrbit News - Science | 22 Jul 2010 | 2:18 pm How Do Cells Die? Biophotonic Tools Reveal Real-Time Dynamics In Living ColorNew method can facilitate customized molecular medicineApoptosis, programmed cell death, is essential to normal development, healthy immune system function, and cancer prevention. The process dramatically transforms cellular structures but the limitations of conventional microscopy methods have kept much about this structural reorganization a mystery.Now, in research featured on the cover of the current issue of Proceedings of the National Academy of Sciences, University at Buffalo scientists have developed a biophotonic imaging approach capable of monitoring in real-time the transformations that cellular macromolecules undergo during programmed cell death.The work could help realize the potential of customized molecular medicine, in which chemotherapy, for example, can be precisely targeted to cellular changes exhibited by individual patients. It can also be a valuable drug development tool for screening new compounds."This new ability provides us with a dynamic mapping of the transformations occurring in the cell at the molecular level," says study co-author Paras N. Prasad, PhD, executive director of the UB Institute for Lasers, Photonics and Biophotonics (ILPB) and SUNY Distinguished Professor in the departments of Chemistry, Physics, Electrical Engineering and Medicine. "It provides us with a very clear visual picture of the dynamics of proteins, DNA, RNA and lipids during the cell's disintegration."Prasad notes that molecular medicine, in which treatments or preventive measures can be tailored to cellular properties exhibited by individual patients, depends on much better methods of visualizing what's happening during critical cellular processes."This research helps improve our understanding of cellular events at the molecular level," he says. "If we know that specific molecular changes constitute an early signature of a disease, or what changes may predispose a patient to that disease, then we can take steps to target treatment or even prevent the disease from developing in the first place."To capture the cellular images, the interdisciplinary UB team of biologists, chemists and physicists, led by Prasad, utilized an advanced biophotonic approach that combines three techniques: a nonlinear, optical imaging system (CARS or Coherent anti-Stokes Raman scattering), TPEF (two-photon excited fluorescence), which images living tissue and cells at deep penetration and Fluorescence Recovery after Photobleaching to measure dynamics of proteins."For the first time, this approach allows us to monitor in a single scan, four different types of images, characterizing the distribution of proteins, DNA, RNA and lipids in the cell," says Aliaksandr V. Kachynski, PhD, research associate professor at the ILPB and co-author.The resulting composite image integrates in one picture the information on all four types of biomolecules, with each type of molecule represented by a different color: proteins in red, RNA in green, DNA in blue and lipids in grey, as shown on the PNAS cover.Multiplex imaging provided new information on the rate at which proteins diffuse through the cell nucleus, the UB scientists say.Before apoptosis was induced, the distribution of proteins was relatively uniform, but once apoptosis develops, nuclear structures disintegrate, the proteins become irregularly distributed and their diffusion rate slows down, says Artem Pliss, PhD, research assistant professor at the ILPB and co-author on the paper."This research gives us the unique ability to study and improve our understanding of individual subcellular structures and the transformations they go through," says Pliss.Such precise information will be especially useful for monitoring how specific cancer drugs affect individual cells."For example, say drug therapy is being administered to a cancer patient; this system will allow for the monitoring of cellular changes throughout the treatment process," notes Kachynski. "Clinicians will be able to determine the optimal conditions to kill a cancer cell for the particular type of disease. An improved understanding of the drug-biomolecule interactions will help discover the optimal treatment doses so as to minimize side effects."Andrey Kuzmin, PhD, research assistant professor at the ILPB and co-author, adds that a new paper from the UB team, forthcoming in Biophysical Journal, further extends this work."The benefits of the UB multiplex imaging system and its molecular selectivity have been further extended into a new fundamental cellular study, structural reorganization throughout the mitotic cell cycle," he says.The work was supported by a grant from the John R. Oishei Foundation of Buffalo, N.Y.The researchers are active participants in the strategic strength in Integrated Nanostructured Systems identified in the UB 2020 strategic plan for academic, research and service excellence.The University at Buffalo is a premier research-intensive public university, a flagship institution in the State University of New York system and its largest and most comprehensive campus. UB's more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.---On the Net:University at BuffaloProceedings of the National Academy of SciencesSource: RedOrbit News - Science | 22 Jul 2010 | 2:16 pm Google introduces “direct access numbers” for Google VoiceSection: Communications, Cellphones, Cellular Providers, Smartphones, Web, Google  In order to make calls connect faster when using Google Voice, Google is updating the Google Voice app with something it likes to call “direct access numbers.” Designed for use on Android and BlackBerry devices, direct access numbers basically assigns your contacts with a special, unique number. In the past, every call made through Google Voice would have to be placed through Google servers first before being connected with the person who you’re trying to call. However, with direct access numbers, each contact has a unique number meaning the device can bypass accessing Google servers for every call placed. Simply navigate to the Android Market and update your already existing Google Voice app, or download the Google Voice app. If you are interested in using Google Voice on your BlackBerry smartphone, you will need to navigate to m.google.com/voice first and download the app. Just as a reminder, Google Voice is available for anyone in the United States, but isn’t available in other countries just yet. Via [Google Voice Blog] Full Story » | Written by Natesh Sood for Gadgetell. | Comment on this Article » Source: Gadgetell | 22 Jul 2010 | 2:15 pm Microsoft Reports Record Fourth-Quarter ResultsREDMOND, Wash., July 22 /PRNewswire-FirstCall/ -- Microsoft Corp. today announced record fourth-quarter revenue of $16.04 billion for the quarter ended June 30, 2010, a 22% increase from the same period of the prior year. Operating income, net income and diluted earnings per share for the quarter were $5.93 billion, $4.52 billion and $0.51 per share, which represented increases of 49%, 48% and 50%, respectively, when compared with the prior year period. (Logo: http://photos.prnewswire.com/prnh/20000822/MSFTLOGO) (Logo: http://www.newscom.com/cgi-bin/prnh/20000822/MSFTLOGO) "This quarter's record revenue reflects the breadth of our offerings and our continued product momentum," said Peter Klein, chief financial officer. "The revenue growth, combined with our ongoing cost discipline, helped us achieve another quarter of margin expansion." Product momentum continued during the quarter with the successful launch of Office 2010 and strong performance from existing products including Windows 7, which has sold more than 175 million licenses to date, Windows Server, Xbox, and Bing, which achieved its 13th consecutive month of share gain. "We saw strong sales execution across all of our businesses, particularly in the enterprise with Windows 7 and Office 2010," said Kevin Turner, chief operating officer. "Our transition to cloud services is well underway with offerings like Windows Azure and our Business Productivity Online Services, and we look forward to continuing our product momentum this fall with the upcoming launches of Windows Phone 7 and Xbox Kinect." For the fiscal year ended June 30, 2010, Microsoft reported record revenue of $62.48 billion, a 7% increase from the prior year. Operating income, net income and diluted earnings per share for the year were $24.10 billion, $18.76 billion and $2.10, which represented increases of 18%, 29% and 30%, respectively, when compared with the prior year. Business Outlook Microsoft offers updated operating expense guidance of $26.9 billion to $27.3 billion for the full year ending June 30, 2011. Webcast Details Peter Klein, chief financial officer, Frank Brod, chief accounting officer, and Bill Koefoed, general manager of Investor Relations, will host a conference call and webcast at 2:30 p.m. PDT (5:30 p.m. EDT) today to discuss details of the company's performance for the quarter and certain forward-looking information. The session may be accessed at http://www.microsoft.com/msft. The webcast will be available for replay through the close of business on July 22, 2011. About Microsoft Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential. Forward-Looking Statements Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors such as: challenges to Microsoft's business model;intense competition in all of Microsoft's markets;Microsoft's continued ability to protect its intellectual property rights;claims that Microsoft has infringed the intellectual property rights of others;the possibility of unauthorized disclosure of significant portions of Microsoft's source code;actual or perceived security vulnerabilities in Microsoft products that could reduce revenue or lead to liability;improper disclosure of personal data could result in liability and harm to Microsoft's reputation;outages and disruptions of services provided to customers directly or through third parties if Microsoft fails to maintain an adequate operations infrastructure;government litigation and regulation affecting how Microsoft designs and markets its products;Microsoft's ability to attract and retain talented employees;delays in product development and related product release schedules;significant business investments that may not gain customer acceptance and produce offsetting increases in revenue;unfavorable changes in general economic conditions, disruption of our partner networks or sales channels, or the availability of credit that affect demand for Microsoft's products and services or the value of our investment portfolio;adverse results in legal disputes;unanticipated tax liabilities;quality or supply problems in Microsoft's consumer hardware or other vertically integrated hardware and software products;impairment of goodwill or amortizable intangible assets causing a charge to earnings;exposure to increased economic and regulatory uncertainties from operating a global business;geopolitical conditions, natural disaster, cyber attack or other catastrophic events disrupting Microsoft's business; andacquisitions and joint ventures that adversely affect the business.For further information regarding risks and uncertainties associated with Microsoft's business, please refer to the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Microsoft's SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting Microsoft's Investor Relations department at (800) 285-7772 or at Microsoft's Investor Relations Web site at http://www.microsoft.com/msft. All information in this release is as of July 22, 2010. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations. Microsoft Corporation Income Statements (In millions, except per share amounts) Three Months Ended June 30, ------------------ 2010 2009 ---- ---- Revenue $16,039 $13,099 Operating expenses: Cost of revenue 3,170 2,586 Research and development 2,350 2,225 Sales and marketing 3,602 3,192 General and administrative 987 1,069 Employee severance - 40 --- --- Total operating expenses 10,109 9,112 ------ ----- Operating income 5,930 3,987 Other income (expense) 94 155 --- --- Income before income taxes 6,024 4,142 Provision for income taxes 1,506 1,097 ----- ----- Net income $4,518 $3,045 ====== ====== Earnings per share: Basic $0.52 $0.34 ===== ===== Diluted $0.51 $0.34 ===== ===== Weighted average shares outstanding: Basic 8,712 8,901 ===== ===== Diluted 8,821 8,928 ===== ===== Cash dividends declared per common share $0.13 $0.13 ===== ===== Twelve Months Ended June 30, ------------------- 2010 2009 (1) ---- ------- Revenue $62,484 $58,437 Operating expenses: Cost of revenue 12,395 12,155 Research and development 8,714 9,010 Sales and marketing 13,214 12,879 General and administrative 4,004 3,700 Employee severance 59 330 --- --- Total operating expenses 38,386 38,074 ------ ------ Operating income 24,098 20,363 Other income (expense) 915 (542) --- ---- Income before income taxes 25,013 19,821 Provision for income taxes 6,253 5,252 ----- ----- Net income $18,760 $14,569 ======= ======= Earnings per share: Basic $2.13 $1.63 ===== ===== Diluted $2.10 $1.62 ===== ===== Weighted average shares outstanding: Basic 8,813 8,945 ===== ===== Diluted 8,927 8,996 ===== ===== Cash dividends declared per common share $0.52 $0.52 ===== ===== (1) Derived from audited financial statements Microsoft Corporation Balance Sheets (In millions) June 30, June 30, 2010 2009 (1) ---- ------- Assets Current assets: Cash and cash equivalents $5,505 $6,076 Short-term investments (including securities loaned of $62 and $1,540) 31,283 25,371 ------ ------ Total cash, cash equivalents, and short-term investments 36,788 31,447 Accounts receivable, net of allowance for doubtful accounts of $375 and $451 13,014 11,192 Inventories 740 717 Deferred income taxes 2,184 2,213 Other 2,950 3,711 ----- ----- Total current assets 55,676 49,280 Property and equipment, net of accumulated depreciation of $8,629 and $7,547 7,630 7,535 Equity and other investments 7,754 4,933 Goodwill 12,394 12,503 Intangible assets, net 1,158 1,759 Deferred income taxes - 279 Other long-term assets 1,501 1,599 ----- ----- Total assets $86,113 $77,888 ======= ======= Liabilities and stockholders' equity Current liabilities: Accounts payable $4,025 $3,324 Short-term debt 1,000 2,000 Accrued compensation 3,283 3,156 Income taxes 1,074 725 Short-term unearned revenue 13,652 13,003 Securities lending payable 182 1,684 Other 2,931 3,142 ----- ----- Total current liabilities 26,147 27,034 Long-term debt 4,939 3,746 Long-term unearned revenue 1,178 1,281 Deferred income taxes 229 - Other long-term liabilities 7,445 6,269 Commitments and contingencies Stockholders' equity: Common stock and paid-in capital - shares authorized 24,000; outstanding 8,668 and 8,908 62,856 62,382 Retained deficit, including accumulated other comprehensive income of $1,055 and $969 (16,681) (22,824) ------- ------- Total stockholders' equity 46,175 39,558 ------ ------ Total liabilities and stockholders' equity $86,113 $77,888 ======= ======= (1) Derived from audited financial statements Microsoft Corporation Cash Flows Statements (In millions) Three Months Ended June 30, ------------------ 2010 2009 ---- ---- Operations Net income $4,518 $3,045 Adjustments to reconcile net income to net cash from operations: Depreciation, amortization, and other noncash items 718 681 Stock-based compensation 482 416 Net recognized losses (gains) on investments and derivatives 114 1 Excess tax benefits from stock-based compensation (7) (4) Deferred income taxes (483) 300 Deferral of unearned revenue 9,682 8,355 Recognition of unearned revenue (7,055) (6,348) Changes in operating assets and liabilities: Accounts receivable (4,144) (1,820) Other current assets 114 (767) Other long-term assets (80) (114) Other current liabilities 1,352 453 Other long-term liabilities 393 (357) --- ---- Net cash from operations 5,604 3,841 ----- ----- Financing Short-term borrowings (repayments), maturities of 90 days or less, net (545) (489) Proceeds from issuance of debt, maturities longer than 90 days 1,575 4,468 Repayments of debt, maturities longer than 90 days (1,088) (228) Common stock issued 912 143 Common stock repurchased (3,839) (22) Common stock cash dividends (1,130) (1,158) Excess tax benefits from stock-based compensation 7 4 Other 10 (19) --- --- Net cash from (used in) financing (4,098) 2,699 ------ ----- Investing Additions to property and equipment (758) (867) Acquisition of companies, net of cash acquired - (41) Purchases of investments (4,174) (15,325) Maturities of investments 1,005 4,522 Sales of investments 2,420 3,704 Securities lending payable (2,612) 150 ------ --- Net cash used in investing (4,119) (7,857) Effect of exchange rates on cash and cash equivalents (37) 108 --- --- Net change in cash and cash equivalents (2,650) (1,209) Cash and cash equivalents, beginning of period 8,155 7,285 ----- ----- Cash and cash equivalents, end of period $5,505 $6,076 ====== ====== Twelve Months Ended June 30, ------------------- 2010 2009 (1) ---- ------- Operations Net income $18,760 $14,569 Adjustments to reconcile net income to net cash from operations: Depreciation, amortization, and other noncash items 2,673 2,562 Stock-based compensation 1,891 1,708 Net recognized losses (gains) on investments and derivatives (208) 683 Excess tax benefits from stock-based compensation (45) (52) Deferred income taxes (220) 762 Deferral of unearned revenue 29,374 24,409 Recognition of unearned revenue (28,813) (25,426) Changes in operating assets and liabilities: Accounts receivable (2,238) 2,215 Other current assets 420 (422) Other long-term assets (223) (273) Other current liabilities 1,295 (3,371) Other long-term liabilities 1,407 1,673 ----- ----- Net cash from operations 24,073 19,037 ------ ------ Financing Short-term borrowings (repayments), maturities of 90 days or less, net (991) 1,178 Proceeds from issuance of debt, maturities longer than 90 days 4,167 4,796 Repayments of debt, maturities longer than 90 days (2,986) (228) Common stock issued 2,311 579 Common stock repurchased (11,269) (9,353) Common stock cash dividends (4,578) (4,468) Excess tax benefits from stock-based compensation 45 52 Other 10 (19) --- --- Net cash from (used in) financing (13,291) (7,463) ------- ------ Investing Additions to property and equipment (1,977) (3,119) Acquisition of companies, net of cash acquired (245) (868) Purchases of investments (30,168) (36,850) Maturities of investments 7,453 6,191 Sales of investments 15,125 19,806 Securities lending payable (1,502) (930) ------ ---- Net cash used in investing (11,314) (15,770) Effect of exchange rates on cash and cash equivalents (39) (67) --- --- Net change in cash and cash equivalents (571) (4,263) Cash and cash equivalents, beginning of period 6,076 10,339 ----- ------ Cash and cash equivalents, end of period $5,505 $6,076 ====== ====== (1) Derived from audited financial statements Microsoft Corporation Segment Revenue and Operating Income (Loss) (In millions) Three Months Ended June 30, -------- 2010 2009 ---- ---- Revenue ------- Windows & Windows Live Division $4,548 $3,169 Server and Tools 4,012 3,528 Online Services Division 565 501 Microsoft Business Division 5,250 4,567 Entertainment and Devices Division 1,600 1,257 Unallocated and other 64 77 --- --- Consolidated $16,039 $13,099 ======= ======= Operating Income (Loss) ----------------------- Windows & Windows Live Division $3,063 $1,929 Server and Tools 1,546 1,206 Online Services Division (696) (585) Microsoft Business Division 3,284 2,706 Entertainment and Devices Division (172) (141) Corporate-level activity (1,095) (1,128) ------ ------ Consolidated $5,930 $3,987 ====== ====== Twelve Months Ended June 30, ------------------- 2010 2009 ---- ---- Revenue ------- Windows & Windows Live Division $18,491 $14,974 Server and Tools 14,866 14,191 Online Services Division 2,199 2,121 Microsoft Business Division 18,642 18,910 Entertainment and Devices Division 8,058 8,035 Unallocated and other 228 206 --- --- Consolidated $62,484 $58,437 ======= ======= Operating Income (Loss) ----------------------- Windows & Windows Live Division $12,977 $9,982 Server and Tools 5,491 4,803 Online Services Division (2,355) (1,652) Microsoft Business Division 11,776 11,664 Entertainment and Devices Division 679 108 Corporate-level activity (4,470) (4,542) ------ ------ Consolidated $24,098 $20,363 ======= ======= MICROSOFT CORPORATION FINANCIAL HIGHLIGHTS This document contains statements that are forward-looking. These statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements in this document. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. Summary (In millions, Three except per Months share Ended Percentage amounts and percentages) June 30, Change ------------- -------- ------ 2010 2009 Revenue $16,039 $13,099 22% Operating income $5,930 $3,987 49% Diluted earnings per share $0.51 $0.34 50% ---------- ----- ----- --- (In millions, Twelve except per Months share Ended Percentage amounts and percentages) June 30, Change ------------- -------- ------ 2010 2009 Revenue $62,484 $58,437 7% Operating income $24,098 $20,363 18% Diluted earnings per share $2.10 $1.62 30% ---------- ----- ----- --- Three months ended June 30, 2010 compared with three months ended June 30, 2009 Revenue increased mainly due to strong sales of Windows 7 and the 2010 Microsoft Office system, which were released in fiscal year 2010, and PC market improvement. Operating income increased reflecting the change in revenue, offset in part by higher operating expenses. Cost of revenue increased $584 million or 23%, primarily reflecting increased online costs, increased royalty costs and charges resulting from the discontinuation of the KIN phone.Sales and marketing expenses increased $410 million or 13%, primarily reflecting increased advertising and marketing of Windows 7.Research and development expenses increased $125 million or 6%, primarily reflecting the capitalization of certain software development costs related to Windows 7 product development in the prior year.General and administrative expenses decreased $82 million or 8% due mainly to decreased legal charges.Diluted earnings per share increased reflecting increased net income and the repurchase of 380 million shares during fiscal year 2010. Twelve months ended June 30, 2010 compared with twelve months ended June 30, 2009 Revenue increased mainly due to strong sales of Windows 7 and PC market improvement. Operating income increased reflecting the change in revenue, offset in part by higher operating expenses. Sales and marketing expenses increased $335 million or 3%, primarily reflecting increased advertising and marketing of Windows 7 and Bing and increased sales force expenses related to Windows 7.General and administrative expenses increased $304 million or 8% due mainly to increased legal charges and transition expenses associated with the inception of the Yahoo! Commercial Agreement, offset in part by a reduction in headcount-related expenses.Cost of revenue increased $240 million or 2%, primarily reflecting increased online costs and charges resulting from the discontinuation of the KIN phone, offset in part by decreased Xbox 360 console costs and reductions in other costs due to resource management efforts.Research and development expenses decreased $296 million or 3%, primarily reflecting a decrease in third-party development and programming costs and increased capitalization of certain software development costs.Diluted earnings per share increased reflecting increased net income and the repurchase of 380 million shares during fiscal year 2010. SEGMENT PRODUCT REVENUE/OPERATING INCOME (LOSS) ----------------------------------------------- The revenue and operating income (loss) amounts in this section are presented on a basis consistent with accounting principles generally accepted in the U.S. and include certain reconciling items attributable to each of the segments. Certain corporate-level activity has been excluded from our segment operating results and is presented separately. Prior period amounts have been recast to conform to the way we internally managed and monitored performance at the segment level during the current period. Windows & Windows Live Division (In millions, Three except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Revenue $4,548 $3,169 44% Operating income $3,063 $1,929 59% --------- ------ ------ --- (In millions, Twelve except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Revenue $18,491 $14,974 23% Operating income $12,977 $9,982 30% --------- ------- ------ --- Windows & Windows Live Division ("Windows Division") offerings consist of premium and standard edition Windows operating systems and online software and services through Windows Live. Premium Windows operating systems are those that include additional functionality and are sold at a price above our standard editions. Premium editions include Windows 7 Home Premium, Windows 7 Professional, Windows 7 Ultimate, Windows 7 Enterprise, Windows Vista Business, Windows Vista Home Premium, Windows Vista Ultimate, and Windows Vista Enterprise. Standard editions include Windows 7 Starter, Windows 7 Home Basic, Windows Vista Starter, Windows Vista Home Basic, and Windows XP Home. Windows Live primarily generates revenue from online advertising. Windows Division revenue growth is largely correlated to the growth of PC purchases from original equipment manufacturers ("OEMs") that pre-install versions of Windows operating systems because the OEM channel accounts for approximately 80% of total Windows Division revenue. The remaining approximately 20% of Windows Division revenue ("other revenue") is generated by commercial and retail sales of Windows and online advertising from Windows Live. Three months ended June 30, 2010 compared with three months ended June 30, 2009 Windows Division revenue increased due to strong sales of Windows 7 and PC market improvement. We estimate total worldwide PC shipments from all sources grew approximately 22% to 24%. OEM revenue increased $1.1 billion or 46%, while OEM license units increased 26%. The OEM revenue increase was driven by PC market growth, higher Windows attach rates across business and consumer segments and the mix of versions of Windows licensed, partially offset by PC market strength in emerging markets versus developed markets. Prior year OEM revenue reflects $273 million of revenue deferred in connection with sales of Windows Vista with a guarantee to be upgraded to Windows 7 at minimal or no cost upon general availability. Other revenue increased $262 million or 36% driven primarily by commercial and retail sales of Windows 7. Windows Division operating income increased as a result of increased revenue, offset in part by higher operating expenses. Research and development expenses increased $89 million or 38%, reflecting capitalization of certain software development costs related to Windows 7 product development in the prior year. Cost of revenue increased $83 million or 24%, primarily driven by increased traffic acquisition costs and royalties. Sales and marketing expenses increased $77 million or 12% reflecting increased advertising and marketing of Windows 7. Twelve months ended June 30, 2010 compared with twelve months ended June 30, 2009 Windows Division revenue increased primarily as a result of strong sales of Windows 7 and PC market improvement. We estimate total PC shipments from all sources grew approximately 16% to 18%. OEM revenue increased $2.6 billion or 22%, while OEM license units increased 21%. The OEM revenue increase was driven by PC market growth, higher Windows attach rates across consumer and business segments, the restoration of normal OEM inventory levels, and the mix of versions of Windows licensed, offset in part by PC market changes, including stronger growth of emerging markets versus developed markets and of consumer PCs versus business PCs. Prior year OEM revenue reflects the $273 million revenue deferral discussed above. This amount was subsequently recognized in fiscal year 2010. Other revenue increased $912 million or 29% driven primarily by Windows 7 retail sales. Windows Division operating income increased as a result of increased revenue, offset in part by higher operating expenses. Cost of revenue increased $296 million or 22%, primarily driven by increased traffic acquisition costs, royalties and other product costs. Sales and marketing expenses increased $256 million or 11% reflecting increased advertising and marketing of Windows 7. Server and Tools (In millions, Three except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Revenue $4,012 $3,528 14% Operating income $1,546 $1,206 28% --------- ------ ------ --- (In millions, Twelve except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Revenue $14,866 $14,191 5% Operating income $5,491 $4,803 14% --------- ------ ------ --- Server and Tools licenses products, applications, tools, content, and delivers Enterprise Services, all of which are designed to make information technology professionals, developers, and their systems more productive and efficient. Server and Tools product and service offerings consist of Windows Server, Microsoft SQL Server, Windows Azure and other cloud and server offerings. We also offer developer tools, training and certification. Enterprise Services comprise Premier product support services and Microsoft Consulting Services. Server product offerings can be run on-site, in a partner-hosted environment, or in a Microsoft-hosted environment. We use multiple sales channels, including pre-installed OEM versions, sales through partners and sales directly to end customers. Approximately 50% of Server and Tools revenue comes from annuity volume licensing agreements, approximately 30% is purchased through transactional volume licensing programs, retail packaged product and licenses sold to OEMs, and the remainder comes from Enterprise Services. Three months ended June 30, 2010 compared with three months ended June 30, 2009 Server and Tools revenue increased reflecting growth in product revenue and Enterprise Services revenue. Product revenue increased $463 million or 17%, driven primarily by growth in Windows Server, SQL Server and Enterprise CAL Suites revenue, reflecting continued adoption of Windows platform applications. Enterprise Services revenue grew $21 million or 3%, primarily due to growth in Premier product support services, offset in part by decreased consulting services. Server and Tools revenue for the fourth quarter of fiscal year 2010 included a favorable foreign currency exchange impact of $70 million. Server and Tools operating income increased primarily due to revenue growth, offset in part by increased operating expenses. Cost of revenue increased $72 million or 11%, reflecting increased services costs and online and product costs. Sales and marketing expenses increased $55 million or 5%, primarily due to increased corporate and partner marketing expenses. General and administrative expenses increased $29 million. Twelve months ended June 30, 2010 compared with twelve months ended June 30, 2009 Server and Tools revenue increased mainly reflecting growth in product revenue. Product revenue increased $652 million or 6%, driven primarily by growth in Windows Server, SQL Server and Enterprise CAL Suites revenue, reflecting increased revenue from annuity volume licensing agreements and continued adoption of Windows platform applications, offset in part by a decline in developer tools revenue. Enterprise Services revenue was relatively flat, with growth in Premier product support services nearly offset by decreased consulting services. Server and Tools operating income increased due mainly to revenue growth and reduced research and development expenses, offset in part by increased cost of revenue. Research and development expenses decreased $38 million or 2%, primarily driven by reduced third-party development and programming costs and headcount-related expenses, offset in part by increased hosting, localization and lab costs. Cost of revenue increased $25 million. Online Services Division (In millions, Three except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Revenue $565 $501 13% Operating loss $(696) $(585) (19)% --------- ----- ----- ---- (In millions, Twelve except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Revenue $2,199 $2,121 4% Operating loss $(2,355) $(1,652) (43)% --------- ------- ------- ---- Online Services Division ("OSD") consists of an online advertising platform with offerings for both publishers and advertisers, online information offerings, such as Bing, and the MSN portals and channels around the world. We earn revenue primarily from online advertising, including search, display, and advertiser and publisher tools. Revenue is also generated through subscriptions and transactions generated from online paid services and from MSN narrowband Internet access subscribers ("Access"). Yahoo! Commercial Agreement On December 4, 2009, we entered into a definitive agreement with Yahoo! whereby Microsoft will provide the exclusive algorithmic and paid search platform for Yahoo! websites. We believe this agreement will allow us over time to improve the effectiveness and increase the value of our search offering through greater scale in search queries and an expanded and more competitive search and advertising marketplace. Three months ended June 30, 2010 compared with three months ended June 30, 2009 OSD revenue increased primarily as a result of increased online advertising revenue, offset in part by decreased Access revenue. Online advertising revenue increased $79 million or 19% to $494 million, reflecting higher search and display advertising revenue, offset in part by decreased advertiser and publisher tools revenue. Access revenue decreased $14 million or 33%, reflecting continued migration of subscribers to broadband or other competitively-priced service providers. OSD operating loss increased due to increased cost of revenue and research and development expenses, offset in part by increased revenue. Cost of revenue increased $157 million, primarily driven by Yahoo! reimbursement and implementation costs, as well as online traffic acquisition costs. Research and development expenses increased $39 million or 14%, also primarily due to Yahoo! reimbursement and implementation costs and third-party development and programming costs. Twelve months ended June 30, 2010 compared with twelve months ended June 30, 2009 OSD revenue increased reflecting increased online advertising revenue, offset in part by decreased Access revenue. Online advertising revenue increased $146 million or 8% to $1.9 billion, reflecting higher search and display advertising revenue, offset in part by decreased advertiser and publisher tools revenue. Access revenue decreased $57 million or 31%, reflecting continued migration of subscribers to broadband or other competitively-priced service providers. OSD operating loss increased due to increased operating expenses, offset in part by increased revenue. Cost of revenue increased $565 million, primarily driven by higher online traffic acquisition costs and Yahoo! reimbursement and implementation costs. General and administrative expenses increased $136 million due mainly to transition expenses associated with the inception of the Yahoo! Commercial Agreement. Sales and marketing expenses increased $56 million or 5% due mainly to increased marketing of Bing, offset in part by decreased headcount-related expenses. Microsoft Business Division (In millions, Three except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Revenue $5,250 $4,567 15% Operating income $3,284 $2,706 21% --------- ------ ------ --- (In millions, Twelve except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Revenue $18,642 $18,910 (1)% Operating income $11,776 $11,664 1% --------- ------- ------- --- Microsoft Business Division ("MBD") offerings consist of the Microsoft Office system and Microsoft Dynamics business solutions. Microsoft Office system products are designed to increase personal, team, and organization productivity through a range of programs, services, and software solutions. Microsoft Office system offerings generate over 90% of MBD revenue. Microsoft Dynamics products provide business solutions for financial management, customer relationship management, supply chain management, and analytics applications for small and mid-size businesses, large organizations, and divisions of global enterprises. We evaluate our results based upon the nature of the end user in two primary parts: business revenue, which includes Microsoft Office system revenue generated through volume licensing agreements and Microsoft Dynamics revenue; and consumer revenue, which includes revenue from retail packaged product sales and OEM revenue. Three months ended June 30, 2010 compared with three months ended June 30, 2009 MBD revenue increased primarily reflecting sales of the 2010 Microsoft Office system, which was launched during the fourth quarter. Consumer revenue increased $357 million or 51% due to sales of the 2010 Microsoft Office system and growth in the PC market. Business revenue increased $326 million or 8%, primarily reflecting licensing of the 2010 Microsoft Office system to transactional business customers, growth in multi-year licensing revenue and a 4% increase in Microsoft Dynamics revenue. MBD revenue for the fourth quarter of fiscal year 2010 included a favorable foreign currency exchange impact of $108 million. MBD operating income increased due mainly to increased revenue, offset in part by increased operating expenses. Sales and marketing expenses increased $67 million or 6%, primarily driven by an increase in corporate marketing activities. Cost of revenue increased $63 million or 21%, primarily driven by increased traffic acquisition costs and increased costs of providing services. These increases were offset in part by a $22 million decrease in research and development expenses. Twelve months ended June 30, 2010 compared with twelve months ended June 30, 2009 MBD revenue decreased primarily as a result of the net deferral of $254 million of revenue related to eligible sales of the 2007 Microsoft Office system with a guarantee to be upgraded to the 2010 Microsoft Office system at minimal or no cost (the "Office 2010 Deferral"). Consumer revenue decreased $166 million or 5%, primarily due to the Office 2010 Deferral, offset in part by growth in the PC market and sales of the 2010 Microsoft Office system, which was launched during the fourth quarter. Business revenue decreased $102 million or 1%, primarily reflecting a decline in licensing of the 2007 Microsoft Office system to transactional business customers, offset in part by growth in multi-year volume licensing agreement revenue and licensing of the 2010 Microsoft Office system to transactional business customers. Microsoft Dynamics revenue remained flat. MBD operating income increased due mainly to decreased operating expenses, offset in part by decreased revenue. Sales and marketing expenses decreased $266 million or 6%, primarily driven by a decrease in corporate marketing activities. Research and development expenses decreased $187 million or 11%, primarily as a result of capitalization of certain Microsoft Office system software development costs and lower headcount-related expenses. General and administrative expenses decreased $53 million or 18% primarily due to expenses in the prior year associated with the acquisition of Fast Search & Transfer ASA and lower headcount-related expenses. These decreases were offset in part by a $126 million or 11% increase in cost of revenue, primarily driven by increased traffic acquisition costs and increased costs of providing services. Entertainment and Devices Division (In millions, Three except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Revenue $1,600 $1,257 27% Operating income (loss) $(172) $(141) (22)% --------- ----- ----- ---- (In millions, Twelve except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Revenue $8,058 $8,035 0% Operating income (loss) $679 $108 529% --------- --- --- --- Entertainment and Devices Division ("EDD") offerings include the Xbox 360 platform (which includes the Xbox 360 gaming and entertainment console, Xbox 360 video games, Xbox LIVE, and Xbox 360 accessories), the Zune digital music and entertainment platform ("Zune"), PC software games, online games and services, Mediaroom (our Internet protocol television software), the Microsoft Surface computing platform, Windows Mobile and Embedded device platforms, application software for Apple's Macintosh computers, Microsoft PC hardware products, and other devices. EDD is also responsible for all retail sales and marketing for Microsoft Office and Windows operating systems. Three months ended June 30, 2010 compared with three months ended June 30, 2009 EDD revenue increased reflecting an increase in Xbox 360 platform and PC game revenue and increased revenue from the non-gaming portion of the business. Xbox 360 platform and PC game revenue increased $228 million or 30%, primarily reflecting increased Xbox 360 consoles sold and increased Xbox LIVE revenue, partially offset by decreased revenue per console. We shipped 1.5 million Xbox 360 consoles during the fourth quarter of fiscal year 2010, compared with 1.2 million Xbox 360 consoles during the fourth quarter of fiscal year 2009. Non-gaming revenue increased $115 million or 23%, primarily reflecting increased sales of Windows Embedded device platforms. EDD revenue for the fourth quarter of fiscal year 2010 included a favorable foreign currency exchange impact of $52 million. EDD operating loss increased primarily reflecting increased operating expenses, offset in part by increased revenue. Cost of revenue increased $251 million or 38% primarily from charges resulting from the discontinuation of the KIN phone and increased royalty costs resulting from increased Xbox LIVE digital marketplace third-party content sales. Sales and marketing expenses increased $73 million or 29% primarily due to increased Xbox 360 platform marketing activities. Research and development expenses increased $48 million or 10%, primarily reflecting increased third-party development and programming costs and increased headcount-related expenses. Twelve months ended June 30, 2010 compared with twelve months ended June 30, 2009 EDD revenue was nearly flat reflecting increased revenue from the non-gaming portion of the business, partially offset by decreased revenue from Xbox 360 platform and PC games. Non-gaming revenue increased $35 million or 1% primarily reflecting increased sales of Windows Embedded device platforms, offset in part by decreased Zune and Windows Mobile revenue. Xbox 360 platform and PC game revenue decreased $12 million, primarily reflecting a reduction in Xbox 360 consoles sold and revenue per console, offset in part by increased Xbox LIVE revenue. We shipped 10.3 million Xbox 360 consoles during the fiscal year 2010, compared with 11.2 million Xbox 360 consoles during fiscal year 2009. EDD operating income increased due to reduced operating expenses. Cost of revenue decreased $528 million or 11%, primarily due to lower Xbox 360 console costs, offset in part by increased royalty costs resulting from increased Xbox LIVE digital marketplace third-party content sales and charges resulting from the discontinuation of the KIN phone. Research and development expenses decreased $34 million or 2%, primarily reflecting decreased third-party development and programming costs. Corporate-Level Activity (In millions, Three except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Corporate- level activity (1,095) $(1,128) 3% ----------- ------ ------- --- (In millions, Twelve except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Corporate- level activity $(4,470) $(4,542) 2% ---------- ------- ------- --- Certain corporate-level activity is not allocated to our segments, including costs of: broad-based sales and marketing; product support services; human resources; legal; finance; information technology; corporate development and procurement activities; research and development; legal settlements and contingencies; and employee severance. Three months ended June 30, 2010 compared with three months ended June 30, 2009 Corporate-level expenses decreased due mainly to a reduction in legal charges and employee severance charges, offset in part by increased costs associated with broad-based sales and marketing activities. Legal charges were approximately $97 million compared to $193 million in the prior year. Twelve months ended June 30, 2010 compared with twelve months ended June 30, 2009 Corporate-level expenses decreased due mainly to employee severance charges of $330 million incurred in the prior year, decreased partner payments, and reductions in other costs due to resource management efforts. These decreases in expenses were offset in part by an increase in legal charges and costs associated with broad-based sales and marketing activities. Legal charges were approximately $533 million compared to $283 million in the prior year. OPERATING EXPENSES ------------------ Cost of Revenue (In millions, Three except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Cost of revenue $3,170 $2,586 23% As a percent of revenue 20% 20% 0ppt -------- --- --- ---- (In millions, Twelve except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Cost of revenue $12,395 $12,155 2% As a percent of revenue 20% 21% (1)ppt -------- --- --- ------ Cost of revenue includes: manufacturing and distribution costs for products sold and programs licensed; operating costs related to product support service centers and product distribution centers; costs incurred to include software on PCs sold by OEMs, to drive traffic to our websites and to acquire online advertising space ("traffic acquisition costs"); costs incurred to support and maintain Internet-based products and services; warranty costs; inventory valuation adjustments; costs associated with the delivery of consulting services; and the amortization of capitalized research and development costs. Cost of revenue increased reflecting higher online costs, mainly Yahoo! reimbursement and implementation costs and traffic acquisition costs, as well as increased royalty costs resulting from increased Xbox LIVE digital marketplace third-party content sales and charges resulting from the discontinuation of the KIN phone. For the full fiscal year, these costs were offset in part by lower Xbox 360 console costs and reductions in other costs due to resource management efforts. Research and Development (In millions, Three except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Research and development $2,350 $2,225 6% As a percent of revenue 15% 17% (2)ppt -------- --- --- ------ (In millions, Twelve except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Research and development $8,714 $9,010 (3)% As a percent of revenue 14% 15% (1)ppt -------- --- --- ------ Research and development expenses include payroll, employee benefits, stock-based compensation expense, and other headcount-related expenses associated with product development. Research and development expenses also include third-party development and programming costs, localization costs incurred to translate software for international markets and the amortization of purchased software code and services content. Three months ended June 30, 2010 compared with three months ended June 30, 2009 Research and development expenses increased, primarily reflecting the capitalization of certain software development costs related to Windows 7 product development in the prior year. Twelve months ended June 30, 2010 compared with twelve months ended June 30, 2009 Research and development expenses decreased, primarily reflecting decreased third-party development and programming costs and the capitalization of certain Microsoft Office system software development costs. These decreases were offset in part by the capitalization of certain software and development costs related to Windows 7 product development in the prior year. Sales and Marketing (In millions, Three except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Sales and marketing $3,602 $3,192 13% As a percent of revenue 22% 24% (2)ppt -------- --- --- ------ (In millions, Twelve except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 Sales and marketing $13,214 $12,879 3% As a percent of revenue 21% 22% (1)ppt -------- --- --- ------ Sales and marketing expenses include payroll, employee benefits, stock-based compensation expense, and other headcount-related expenses associated with sales and marketing personnel and the costs of advertising, promotions, trade shows, seminars, and other programs. Sales and marketing expenses increased, primarily reflecting increased advertising and marketing of Windows 7 and Bing and increased sales force expenses related to Windows 7. General and Administrative (In millions, Three except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 General and administrative $987 $1,069 (8)% As a percent of revenue 6% 8% (2)ppt -------- --- --- ------ (In millions, Twelve except Months percentages) Ended Percentage ------------- June 30, Change -------- ------ 2010 2009 General and administrative $4,004 $3,700 8% As a percent of revenue 6% 6% 0ppt -------- --- --- ---- General and administrative expenses include payroll, employee benefits, stock-based compensation expense and other headcount-related expenses associated with finance, legal, facilities, certain human resources and other administrative headcount, and legal and other administrative fees. Three months ended June 30, 2010 compared with three months ended June 30, 2009 General and administrative expenses decreased in nearly all expense categories, including decreased legal charges and a 4% reduction in headcount-related expenses. Twelve months ended June 30, 2010 compared with twelve months ended June 30, 2009 General and administrative expenses increased due to increased legal charges, as discussed above within Corporate-Level Activity, and transition expenses associated with the inception of the Yahoo! Commercial Agreement. These increases were offset in part by a 6% reduction in headcount-related expenses. Employee Severance In January 2009, we announced and implemented a resource management program to reduce employee headcount. We completed this program in fiscal year 2010, reducing our overall headcount by approximately 5,300 in various functions, including research and development, marketing, sales, finance, legal, human resources, and information technology. During fiscal years 2010 and 2009, we recorded employee severance expense of $59 million and $330 million, respectively. OTHER INCOME (EXPENSE) AND INCOME TAXES --------------------------------------- Other Income (Expense) The components of other income (expense) were as follows: (In millions, Three except Months percentages) Ended Percentage ------------- ------ ---------- June 30, Change -------- ------ 2010 2009 Dividends and interest income $239 $179 34% Interest expense (37) (19) (95)% Net recognized gains (losses) on investments 49 (72) * Net gains (losses) on derivatives (163) 71 * Net gains (losses) on foreign currency 25 46 (46)% remeasurements Other (19) (50) 62% ----- --- --- Total $94 $155 (39)% --- --- (In millions, Twelve except Months percentages) Ended Percentage ------------- ------ ---------- June 30, Change -------- ------ 2010 2009 Dividends and interest income $843 $744 13% Interest expense (151) (38) (297)% Net recognized gains (losses) on investments 348 (125) * Net gains (losses) on derivatives (140) (558) 75% Net gains (losses) on foreign currency 1 (509) * remeasurements Other 14 (56) * ----- --- --- Total $915 $(542) * --- ----- * Not meaningful Three months ended June 30, 2010 compared with three months ended June 30, 2009 Dividends and interest income increased primarily due to higher average portfolio investment balances, offset in part by lower yields on our fixed-income investments. Interest expense increased due to our issuance of long-term debt in May 2009. Net recognized gains on investments increased primarily due to lower other-than-temporary impairments and higher gains on sales of investments in the current period as compared to the prior period. Other-than-temporary impairments were $33 million during the three months ended June 30, 2010, as compared with $108 million during the three months ended June 30, 2009 and decreased primarily due to improvements in market conditions. Net losses on derivatives increased primarily due to losses on commodity, equity and interest rate derivatives as compared to gains in the prior period and higher losses on foreign currency contracts in the current period. Twelve months ended June 30, 2010 compared with twelve months ended June 30, 2009 Dividends and interest income increased primarily due to higher average portfolio investment balances, offset in part by lower yields on our fixed-income investments. Interest expense increased due to our issuance of long term debt in May 2009. Net recognized gains on investments increased primarily due to lower other-than-temporary impairments, offset in part by lower gains on sales of investments in the current period. Other-than-temporary impairments were $69 million during fiscal year 2010, as compared with $862 million during fiscal year 2009 and decreased primarily due to improvements in market conditions. Net losses on derivatives decreased due to gains on equity and interest rate derivatives as compared to losses in the prior period and lower losses on commodity and foreign currency contracts in the current period Net gains from foreign currency remeasurements were insignificant in fiscal year 2010 compared to net losses of $509 million in the prior year, which had resulted from the strengthening of the U.S. dollar in the prior year. For fiscal year 2010, other includes a gain on the divestiture of Razorfish. Income Taxes Our effective tax rate was 25% for both the three and twelve months ended June 30, 2010, as compared with 27% for both the three and twelve months ended June 30, 2009. The fiscal year 2010 rate reflects a higher mix of foreign earnings taxed at lower rates. UNEARNED REVENUE ---------------- Unearned revenue at June 30, 2010 comprised mainly unearned revenue from volume licensing programs. Unearned revenue from volume licensing programs represents customer billings for multi-year licensing arrangements paid for either upfront or annually at the beginning of each billing coverage period and accounted for as subscriptions with revenue recognized ratably over the billing coverage period. Unearned revenue at June 30, 2010 also included payments for: post-delivery support and consulting services to be performed in the future, Xbox LIVE subscriptions; unspecified upgrades/enhancements of Microsoft Internet Explorer on a when-and-if-available basis for Windows XP; Microsoft Dynamics business solutions products; technology guarantee programs, including the 2010 Microsoft Office technology guarantee program; and other offerings for which we have been paid upfront and earn the revenue when we provide the service or software, or otherwise meet the revenue recognition criteria. The following table outlines the expected future recognition of unearned revenue as of June 30, 2010: (In millions) ------------- Three Months Ending, September 30, 2010 $5,150 December 31, 2010 4,239 March 31, 2011 2,815 June 30, 2011 1,448 Thereafter 1,178 ---------- ----- Total $14,830 ------- CASH FLOWS ---------- Three months ended June 30, 2010 compared with three months ended June 30, 2009 Cash flow from operations increased $1.8 billion, reflecting payment of $1.0 billion to the Internal Revenue Service in the prior year as a result of our settlement of the 2000-2003 audit examination along with increased cash received from customers due to strong sales in the current year. Cash used for financing was $4.1 billion in the three months ended June 30, 2010 as compared with cash provided by financing of $2.7 billion in the prior fiscal year. This decrease in cash flow was due to a $3.8 billion increase in stock repurchases along with a $2.9 billion decrease in proceeds from issuances of debt with maturities longer than 90 days. Cash used for investing decreased $3.7 billion due to a $6.4 billion decrease in cash used for combined investment purchases, sales, and maturities partially offset by a $2.8 billion decrease in securities lending activities. Twelve months ended June 30, 2010 compared with twelve months ended June 30, 2009 Cash flow from operations increased $5.0 billion, primarily due to payment of $4.1 billion to the Internal Revenue Service in the prior year as a result of our settlement of the 2000-2003 audit examination along with increased cash received from customers in the current year. Cash used for financing increased $5.8 billion, primarily due to a $5.6 billion decrease in net cash proceeds from issuance and repayments of short-term and long-term debt. Financing activities also included a $1.9 billion increase in cash used for common stock repurchases, which was offset in part by a $1.7 billion increase in cash received from common stock issued. Cash used for investing decreased $4.5 billion due to a $3.3 billion decrease in cash used for combined investment purchases, sales, and maturities along with a $1.1 billion decrease in additions to property and equipment . SOURCE Microsoft Corp.Source: RedOrbit News - Technology | 22 Jul 2010 | 2:15 pm Lender Processing Services, Inc. Reports Strong Second Quarter EarningsJACKSONVILLE, Fla., July 22 /PRNewswire-FirstCall/ -- Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology and services to the mortgage and real estate industries, today reported consolidated revenues of $599.1 million for the second quarter of 2010, a decrease of 2.3% compared to the second quarter of 2009; however, net earnings of $80.4 million or 85 cents per diluted share in the second quarter of 2010 increased from $75.2 million or 78 cents per diluted share in the prior year quarter. Adjusted net earnings for the second quarter of 2010 were $84.0 million, or 89 cents per diluted share, compared to $79.8 million, or 83 cents per diluted share in the second quarter of 2009. Adjusted net earnings in the current quarter include an adjustment for purchase price amortization of 4 cents per diluted share while the prior year quarter included a similar adjustment of 5 cents per diluted share. "LPS had a strong quarter despite very difficult conditions in both the origination and default markets and a sustained challenging macro-economic environment. LPS, with its comprehensive end-to-end solutions for the mortgage and real estate industries, remains well positioned for a solid 2010 and to continue to grow profitably in 2011 and beyond," said Lee A. Kennedy, Executive Chairman of LPS. "Our Mortgage Processing business delivered another strong quarter and while our Loan Facilitation and Default Services businesses were both impacted by sluggish industry trends, we continued to expand market share in both areas," added Jeff Carbiener, President and CEO of LPS. Operating income of $148.4 million in the quarter increased from $143.7 million in the second quarter of 2009 and operating margins improved by 140 basis points to 24.8%. Adjusted free cash flow (net cash provided by operating activities minus certain non-recurring expenses and additions to property, equipment and computer software) for the first half of 2010 was $149.5 million compared to $160.2 million in the first half of 2009 primarily due to higher capital expenditures as well as from timing differences in our working capital components. Technology, Data and Analytics (TD&A) Revenues for the segment were $185.2 million compared to $171.9 million in the second quarter of 2009 while operating income of $64.8 million compared to $55.1 million in the prior year period. Mortgage Processing revenues of $102.4 million were 14.3% above the second quarter of 2009 primarily due to higher activity-based fees as well as professional services and license revenues. Other TD&A revenues of $82.9 million compared to $82.3 million in the same period last year. Overall operating income for TD&A grew 17.6% primarily due to higher contributions from Mortgage Processing somewhat offset by lower contributions from our Desktop business due to investments in key implementations for top-tier financial institutions and also from our Data & Analytics businesses. Loan Transaction Services (LTS) Revenues for the segment were $415.5 million compared to $448.0 million in the second quarter of 2009 and operating income of $101.6 million compared to $109.6 million in the prior year quarter. While Loan Facilitation Services revenues of $140.5 million declined 5.4% year-over-year, they compared favorably to the Mortgage Bankers Association's (MBA) estimate of overall originations being lower by 20% year-over-year. This positive variance was primarily due to market share gains in our settlement services and appraisal offerings. Default Services revenues of $275.0 million declined 8.2% compared to the second quarter of 2009, due to a decline in industry foreclosure starts of 16.0% for the same period, per LPS's Mortgage Monitor report, which were driven by a broader industry slowdown. Overall operating income for LTS was lower mainly due to lower contributions from Default Services partly offset by higher income in Loan Facilitation services. Corporate and Other Net corporate expenses in the second quarter of 2010 were $18.0 million compared to $21.0 million in the prior year quarter primarily due to lower incentive compensation costs. The company noted that it had repurchased 1.6 million shares for $57.4 million in the second quarter. Following these purchases, $68.8 million remained available under the previous authorization. Also, the company announced that its Board of Directors had authorized a new share repurchase program of $150 million for a one year period that replaced the previous authorization. Outlook "Second quarter and first half 2010 results were solid given the challenges in our specific markets and the broader economic environment. LPS with its market-leading presence remains well positioned to grow revenue and earnings in the second half of 2010 as well as in 2011," said Jeff Carbiener. "Based on trends in the first half of 2010 and the outlook for the remainder of the year for the origination and default markets, we now expect full year 2010 revenues to grow 3%-6% compared to 2009. Also, we continue to expect full year 2010 adjusted earnings to be in the $3.49-$3.56 per diluted share range with third quarter adjusted earnings in the 88-90 cents per diluted share range." Use of Non-GAAP Financial Information Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, LPS reports several non-GAAP measures, including "adjusted net earnings" (GAAP net earnings adjusted for the impact of certain non-recurring adjustments, if applicable, plus the after-tax purchase price amortization of intangible assets added through acquisitions), "adjusted net earnings per diluted share" (adjusted net earnings divided by diluted weighted average shares), and "adjusted free cash flow" (net cash provided by operating activities less additions to property, equipment and computer software, as well as non-recurring adjustments, if applicable). LPS provides these measures because it believes that they are helpful to investors in comparing year-over-year performance in light of certain non-recurring charges, and to better understand our financial performance, competitive position and future prospects. Non-GAAP measures should be considered in conjunction with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP net earnings. A reconciliation of these non-GAAP measures to related GAAP measures is included in the attachments to this release. Conference Call and Webcast LPS will host a conference call to discuss these results on Friday, July 23, 2010, at 8:00 a.m. EDT. Interested parties are invited to listen to the live webcast by logging on to the Investor Relations section at www.lpsvcs.com. Supplemental materials will be available on the website. Those wishing to participate via the conference call may do so by calling 866-823-5035. A replay of the webcast will be available on the website shortly after the call where it will be archived for one month. A replay of the conference call will be available through July 30, 2010 by dialing 888-203-1112 (access code: 7113478). To access a printer friendly version of this release and accompanying exhibits, go to http://www.lpsvcs.com/investor. About Lender Processing Services Lender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, workflow automation (Desktop), servicing, portfolio retention and default, augmented by the company's award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS's Mortgage Servicing Package (MSP). LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, visit www.lpsvcs.com. Forward-Looking Statements This press release contains forward-looking statements that involve a number of risks and uncertainties. Those forward-looking statements include all statements that are not historical facts, including statements about our beliefs and expectations. Forward-looking statements are based on management's beliefs, as well as assumptions made by and information currently available to management. Because such statements are based on expectations as to future economic performance and are not statements of historical fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to: our ability to adapt our services to changes in technology or the marketplace; the impact of adverse changes in the level of real estate activity on demand for certain of our services; our ability to maintain and grow our relationships with our customers; the effects of our substantial leverage on our ability to make acquisitions and invest in our business; changes to the laws, rules and regulations that regulate our businesses as a result of the current economic and financial environment; changes in general economic, business and political conditions, including changes in the financial markets; the impact of any potential defects, development delays, installation difficulties or system failures on our business and reputation; risks associated with protecting information security and privacy; and other risks and uncertainties detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K, the Company's subsequent reports on Form 10-Q and other filings with the Securities and Exchange Commission. Exhibit A LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES Consolidated Statements of Earnings (Unaudited) Three months Six months ended ended June 30, June 30, -------- -------- 2010 2009 2010 2009 ---- ---- ---- ---- (In thousands) Processing and services revenues $599,081 $613,171 $1,191,475 $1,142,988 Cost of revenues 390,847 404,014 786,869 758,716 ------- ------- ------- ------- Gross profit 208,234 209,157 404,606 384,272 Selling, general and administrative expenses 59,815 65,431 120,535 136,609 ------ ------ ------- ------- Operating income 148,419 143,726 284,071 247,663 Other income (expense): Interest income 300 442 923 966 Interest expense (18,615) (21,625) (37,460) (43,539) Other expense, net 119 (13) 123 (14) --- --- --- --- Total other income (expense) (18,196) (21,196) (36,414) (42,587) ------- ------- ------- ------- Earnings from continuing operations before income taxes and equity in losses of unconsolidated entity 130,223 122,530 247,657 205,076 Provision for income taxes 49,810 46,866 94,728 78,441 ------ ------ ------ ------ Earnings from continuing operations before equity in losses of unconsolidated entity 80,413 75,664 152,929 126,635 Equity in losses of unconsolidated entity - - - (37) --- --- --- --- Earnings from continuing operations 80,413 75,664 152,929 126,598 Discontinued operation, net of tax - - - (504) --- --- --- ---- Net earnings 80,413 75,664 152,929 126,094 Noncontrolling minority interest - (424) - (808) --- ---- --- ---- Net earnings attributable to Lender Processing Services, Inc. $80,413 $75,240 $152,929 $125,286 ======= ======= ======= ======== Net earnings per share -diluted from continuing operations $0.85 $0.78 $1.60 $1.31 Net earnings per share -diluted from discontinued operation - - - - --- --- --- --- Net earnings per share -diluted $0.85 $0.78 $1.60 $1.31 ===== ===== ===== ===== Weighted average shares outstanding -diluted 94,910 96,133 95,660 95,709 ====== ====== ====== ====== Exhibit B LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited) June 30, December 2010 31, 2009 --------- -------- (In thousands) Assets Current assets: Cash and cash equivalents $108,593 $70,528 Trade receivables, net of allowance for doubtful accounts 383,821 401,333 Other receivables 3,932 3,770 Prepaid expenses and other current assets 35,146 26,985 Deferred income taxes 44,377 47,528 Total current assets 575,869 550,144 ------- ------- Property and equipment, net of accumulated depreciation 122,230 113,108 Computer software, net of accumulated amortization 202,646 185,376 Other intangible assets, net of accumulated amortization 60,841 72,796 Goodwill 1,166,142 1,166,142 Other non-current assets 107,448 109,738 ------- ------- Total assets $2,235,176 $2,197,304 ========== ========== Liabilities and Equity Current liabilities: Current portion of long-term debt $110,100 $40,100 Trade accounts payable 46,194 38,166 Accrued salaries and benefits 34,854 54,376 Recording and transfer tax liabilities 14,038 15,208 Due to affiliates - 3,321 Other accrued liabilities 149,108 151,601 Deferred revenues 52,849 66,602 ------ ------ Total current liabilities 407,143 369,374 ------- ------- Deferred revenues 36,404 37,681 Deferred income taxes, net 73,695 65,215 Long-term debt, net of current portion 1,176,700 1,249,250 Other non-current liabilities 19,818 19,926 Total liabilities 1,713,760 1,741,446 --------- --------- Equity: Preferred stock $0.0001 par value; 50 million shares authorized, none issued at June 30, 2010 or December 31, 2009, respectively - - Common stock $0.0001 par value; 500 million shares authorized, 97.8 million and 97.0 million shares issued at June 30, 2010 and December 31, 2009, respectively 10 10 Additional paid-in capital 199,769 173,424 Retained earnings 464,936 330,963 Accumulated other comprehensive loss (2,928) (7,630) Treasury stock $0.0001 par value; 3.9 million and 1.2 million shares at June 30, 2010 and December 31, 2009, respectively (140,371) (40,909) -------- ------- Total equity 521,416 455,858 ------- ------- Total liabilities and equity $2,235,176 $2,197,304 ========== ========== Exhibit C LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows (Unaudited) Six Months ended June 30, ---------------- 2010 2009 ---- ---- (In thousands) Cash flows from operating activities: Net earnings attributable to Lender Processing Services, Inc. $152,929 $125,286 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 47,294 47,579 Amortization of debt issuance costs 2,317 2,645 Gain on sale of discontinued operation - (2,574) Deferred income taxes, net 9,023 (651) Stock-based compensation cost 13,837 13,302 Tax benefit associated with equity compensation 162 (1,356) Equity in losses of unconsolidated entity - 37 Noncontrolling minority interest - 808 Changes in assets and liabilities, net of effects of acquisitions: Trade receivables 17,512 (76,919) Other receivables (162) 10,264 Prepaid expenses and other assets (13,699) (11,599) Deferred revenues (15,031) (158) Accounts payable and other liabilities (7,513) 97,606 ------ ------ Net cash provided by operating activities 206,669 204,270 Cash flows from investing activities: Additions to property and equipment (23,371) (23,201) Additions to capitalized software (33,795) (25,206) Acquisition of title plants - (9,395) Acquisitions, net of cash acquired - (16,403) Proceeds from sale of discontinued operation, net of cash distributed - (32,638) --- ------- Net cash used in investing activities (57,166) (106,843) Cash flows from financing activities: Debt service payments (2,550) (143,481) Stock options exercised 10,906 109 Tax benefit associated with equity compensation (162) 1,356 Cash dividends paid (18,956) (19,134) Treasury stock purchases (97,698) - Contingent payments related to acquisitions (2,978) - ------ --- Net cash used in financing activities (111,438) (161,150) Net increase (decrease) in cash and cash equivalents 38,065 (63,723) Cash and cash equivalents, beginning of period 70,528 125,966 ------ ------- Cash and cash equivalents, end of period $108,593 $62,243 ======== ======= Supplemental disclosures of cash flow information: Cash paid for interest $36,558 $41,828 ======= ======= Cash paid for taxes $71,332 $47,862 ======= ======= Non-cash redistribution of assets to FIS $- $434 === ==== Non-cash consideration received from sale of discontinued operation $- $40,310 === ======= Non-cash consideration issued in acquisition of business $- $(5,162) === ======= Exhibit D LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES SUPPLEMENTAL FINANCIAL INFORMATION - UNAUDITED (In thousands) Six months ended June 30, ---------------- 2010 2009 6/30/2010 3/31/2010 ---- ---- --------- --------- Revenues -Continuing 1. Operations Technology, Data and Analytics (TD&A): Mortgage Processing $199,990 $180,717 $102,356 $97,634 Other TD&A 164,680 151,051 82,852 81,828 ------- ------- ------ ------ Total 364,670 331,768 185,208 179,462 ------- ------- ------- ------- Loan Transaction Services: Loan Facilitation Services 287,085 267,724 140,471 146,614 Default Services 543,717 554,843 275,046 268,671 ------- ------- ------- ------- Total 830,802 822,567 415,517 415,285 ------- ------- ------- ------- Corporate and Other (3,997) (11,347) (1,644) (2,353) ------ ------- ------ ------ Total Revenue $1,191,475 $1,142,988 $599,081 $592,394 ========== ========== ======== ======== Revenue Growth from Prior Year Period Technology, Data and Analytics: Mortgage Processing 10.7% 11.4% 14.3% 7.1% Other TD&A 9.0% 31.0% 0.6% 19.1% --- ---- --- ---- Total 9.9% 19.5% 7.7% 12.2% --- ---- --- ---- Loan Transaction Services: Loan Facilitation Services 7.2% 2.9% -5.4% 23.0% Default Services -2.0% 51.5% -8.2% 5.2% ---- ---- ---- --- Total 1.0% 31.3% -7.3% 10.9% --- ---- ---- ---- Corporate and Other n/m n/m n/m n/m --- --- --- --- Total Revenue 4.2% 27.4% -2.3% 11.8% === ==== ==== ==== Depreciation and Amortization - 2. Continuing Operations Depreciation and Amortization $30,773 $29,505 $15,780 $14,993 Purchase Price Amortization 12,602 15,487 5,884 6,718 Other Amortization 3,919 2,582 1,976 1,943 ----- ----- ----- ----- Total Depreciation and Amortization $47,294 $47,574 $23,640 $23,654 ======= ======= ======= ======= Stock Compensation 3. Expense Stock Compensation Expense, Excluding Acceleration Charges $13,837 $12,503 $7,280 $6,557 Stock Acceleration Expense - 799 - - --- --- --- --- Total Stock Compensation Expense $13,837 $13,302 $7,280 $6,557 ======= ======= ====== ====== 12/31/2009 9/30/2009 6/30/2009 3/31/2009 ---------- --------- --------- --------- Revenues -Continuing 1. Operations Technology, Data and Analytics (TD&A): Mortgage Processing $104,184 $102,973 $89,567 $91,150 Other TD&A 85,247 83,313 82,322 68,729 ------ ------ ------ ------ Total 189,431 186,286 171,889 159,879 ------- ------- ------- ------- Loan Transaction Services: Loan Facilitation Services 142,919 136,657 148,510 119,214 Default Services 278,647 303,823 299,534 255,309 ------- ------- ------- ------- Total 421,566 440,480 448,044 374,523 ------- ------- ------- ------- Corporate and Other (2,864) (7,339) (6,762) (4,585) ------ ------ ------ ------ Total Revenue $608,133 $619,427 $613,171 $529,817 ======== ======== ======== ======== Revenue Growth from Prior Year Period Technology, Data and Analytics: Mortgage Processing 17.9% 23.2% 9.1% 13.7% Other TD&A 40.3% 50.5% 37.9% 23.5% ---- ---- ---- ---- Total 27.0% 34.1% 21.3% 17.7% ---- ---- ---- ---- Loan Transaction Services: Loan Facilitation Services 70.3% 55.9% 25.8% -16.1% Default Services 14.3% 25.6% 51.9% 51.0% ---- ---- ---- ---- Total 28.7% 33.7% 42.1% 20.4% ---- ---- ---- ---- Corporate and Other n/m n/m n/m n/m --- --- --- --- Total Revenue 28.3% 32.7% 35.3% 19.4% ==== ==== ==== ==== Depreciation and Amortization - 2. Continuing Operations Depreciation and Amortization $15,932 $15,894 $15,431 $14,074 Purchase Price Amortization 7,654 7,608 7,404 8,083 Other Amortization 1,713 1,542 753 1,829 ----- ----- --- ----- Total Depreciation and Amortization $25,299 $25,044 $23,588 $23,986 ======= ======= ======= ======= Stock Compensation 3. Expense Stock Compensation Expense, Excluding Acceleration Charges $7,678 $7,062 $6,459 $6,044 Stock Acceleration Expense - - - 799 --- --- --- --- Total Stock Compensation Expense $7,678 $7,062 $6,459 $6,843 ====== ====== ====== ====== Exhibit E LENDER PROCESSING SERVICES, INC. AND SUBSIDIARIES NON-GAAP FINANCIAL INFORMATION - UNAUDITED (In thousands, except per share data) Six months ended June 30, ---------------------- 2010 2009 6/30/2010 ---- ---- --------- EBIT -Continuing 1. Operations Consolidated Revenue $1,191,475 $1,142,988 $599,081 Cost of Sales 786,869 758,716 390,847 Selling, General and Administrative Expenses 120,535 136,609 59,815 ------- ------- ------ Operating Income 284,071 247,663 148,419 Less Non-recurring Charges: Restructuring Costs - 8,186 - Acceleration of Performance-Based Shares - 799 - EBIT, as adjusted $284,071 $256,648 $148,419 EBIT Margin, as adjusted 23.8% 22.5% 24.8% ==== ==== ==== Depreciation and Amortization $47,294 $47,574 $23,640 ======= ======= ======= Technology, Data and Analytics Revenue $364,670 $331,768 $185,208 Cost of Sales 206,112 189,392 100,317 Selling, General and Administrative Expenses 39,877 33,890 20,066 ------ ------ ------ Operating Income 118,681 108,486 64,825 Less Non-recurring Charges: Restructuring Costs - - - Acceleration of Performance-Based Shares - - - EBIT, as adjusted $118,681 $108,486 $64,825 EBIT Margin, as adjusted 32.5% 32.7% 35.0% ==== ==== ==== Depreciation and Amortization $32,585 $33,816 $16,047 ======= ======= ======= Loan Transaction Services Revenue $830,802 $822,567 $415,517 Cost of Sales 584,716 580,285 292,107 Selling, General and Administrative Expenses 45,655 54,423 21,798 ------ ------ ------ Operating Income 200,431 187,859 101,612 Less Non-recurring Charges: Restructuring Costs - - - Acceleration of Performance-Based Shares - - - EBIT, as adjusted $200,431 $187,859 $101,612 EBIT Margin, as adjusted 24.1% 22.8% 24.5% ==== ==== ==== Depreciation and Amortization $10,935 $9,734 $5,749 ======= ====== ====== Corporate and Other Revenue $(3,997) $(11,347) $(1,644) Cost of Sales (3,959) (10,961) (1,577) Selling, General and Administrative Expenses 35,003 48,296 17,951 ------ ------ ------ Operating Income (35,041) (48,682) (18,018) Less Non-recurring Charges: Restructuring Costs - 8,186 - Acceleration of Performance-Based Shares - 799 - EBIT, as adjusted $(35,041) $(39,697) $(18,018) Depreciation and Amortization $3,774 $4,024 $1,844 ====== ====== ====== Net Earnings - 2. Reconciliation Net Earnings $152,929 125,286 $80,413 Less Non-recurring Charges: Restructuring Costs, net of tax - 5,055 - Acceleration of Performance-Based Shares, net of tax - 493 - --- --- --- Net Earnings, as adjusted 152,929 130,834 80,413 Purchase Price Amortization, net of tax (1) 7,781 9,563 3,633 Adjusted Net Earnings $160,710 $140,397 $84,046 ======== ======== Adjusted Net Earnings Per Diluted Share $1.69 $1.47 $0.89 ===== ===== ===== Diluted Weighted Average Shares 95,660 95,709 94,910 ====== ====== ====== Cashflow - 3. Reconciliation Cash Flows from Operating Activities: Net Earnings $152,929 $125,286 $80,413 Less Non-recurring Charges: Restructuring Costs, net of tax - 4,304 - --- ----- --- Net Earnings, as adjusted 152,929 129,590 80,413 Adjustments to reconcile net earnings to net cash provided by operating activities: Non-cash adjustments 72,633 59,790 34,591 Working capital adjustments (18,893) 19,194 (17,375) -------- Net cash provided by operating activities 206,669 208,574 97,629 ------- ------- ------ Capital expenditures included in investing activities (57,166) (48,407) (29,122) Adjusted Net Free Cash Flow $149,503 $160,167 $68,507 ======== ======== ======= 3/31/2010 12/31/2009 9/30/2009 --------- ---------- --------- EBIT -Continuing 1. Operations Consolidated Revenue $592,394 $608,133 $619,427 Cost of Sales 396,022 403,174 409,113 Selling, General and Administrative Expenses 60,720 64,059 66,671 ------ ------ ------ Operating Income 135,652 140,900 143,643 Less Non-recurring Charges: Restructuring Costs - - - Acceleration of Performance-Based Shares - - - EBIT, as adjusted $135,652 $140,900 $143,643 EBIT Margin, as adjusted 22.9% 23.2% 23.2% ==== ==== ==== Depreciation and Amortization $23,654 $25,299 $25,044 ======= ======= ======= Technology, Data and Analytics Revenue $179,462 $189,431 $186,286 Cost of Sales 105,795 107,368 105,651 Selling, General and Administrative Expenses 19,811 18,571 18,256 ------ ------ ------ Operating Income 53,856 63,492 62,379 Less Non-recurring Charges: Restructuring Costs - - - Acceleration of Performance-Based Shares - - - EBIT, as adjusted $53,856 $63,492 $62,379 EBIT Margin, as adjusted 30.0% 33.5% 33.5% ==== ==== ==== Depreciation and Amortization $16,538 $18,066 $17,595 ======= ======= ======= Loan Transaction Services Revenue $415,285 $421,566 $440,480 Cost of Sales 292,609 298,723 311,230 Selling, General and Administrative Expenses 23,857 25,681 27,665 ------ ------ ------ Operating Income 98,819 97,162 101,585 Less Non-recurring Charges: Restructuring Costs - - - Acceleration of Performance-Based Shares - - - EBIT, as adjusted $98,819 $97,162 $101,585 EBIT Margin, as adjusted 23.8% 23.0% 23.1% ==== ==== ==== Depreciation and Amortization $5,186 $5,281 $5,295 ====== ====== ====== Corporate and Other Revenue $(2,353) $(2,864) $(7,339) Cost of Sales (2,382) (2,917) (7,768) Selling, General and Administrative Expenses 17,052 19,807 20,750 ------ ------ ------ Operating Income (17,023) (19,754) (20,321) Less Non-recurring Charges: Restructuring Costs - - - Acceleration of Performance-Based Shares - - - EBIT, as adjusted $(17,023) $(19,754) $(20,321) Depreciation and Amortization $1,930 $1,952 $2,154 ====== ====== ====== Net Earnings - 2. Reconciliation Net Earnings $72,516 $74,901 $75,542 Less Non-recurring Charges: Restructuring Costs, net of tax - - - Acceleration of Performance-Based Shares, net of tax - - - --- --- --- Net Earnings, as adjusted 72,516 74,901 75,542 Purchase Price Amortization, net of tax (1) 4,148 4,726 4,698 Adjusted Net Earnings $76,664 $79,627 $80,240 Adjusted Net Earnings Per Diluted Share $0.80 $0.82 $0.83 ===== ===== ===== Diluted Weighted Average Shares 96,416 96,781 96,399 ====== ====== ====== Cashflow - 3. Reconciliation Cash Flows from Operating Activities: Net Earnings $72,516 $74,901 $75,542 Less Non-recurring Charges: Restructuring Costs, net of tax - - - --- --- --- Net Earnings, as adjusted 72,516 74,901 75,542 Adjustments to reconcile net earnings to net cash provided by operating activities: Non-cash adjustments 38,042 60,281 32,279 Working capital adjustments (1,518) 13,369 (16,954) ------- Net cash provided by operating activities 109,040 148,551 90,867 ------- ------- ------ Capital expenditures included in investing activities (28,044) (30,913) (19,455) Adjusted Net Free Cash Flow $80,996 $117,638 $71,412 ======= ======== ======= 6/30/2009 3/31/2009 --------- --------- EBIT -Continuing 1. Operations Consolidated Revenue $613,171 $529,817 Cost of Sales 404,014 354,702 Selling, General and Administrative Expenses 65,431 71,178 ------ ------ Operating Income 143,726 103,937 Less Non-recurring Charges: Restructuring Costs - 8,186 Acceleration of Performance-Based Shares - 799 EBIT, as adjusted $143,726 $112,922 EBIT Margin, as adjusted 23.4% 21.3% ==== ==== Depreciation and Amortization $23,588 $23,986 ======= ======= Technology, Data and Analytics Revenue $171,889 $159,879 Cost of Sales 98,929 90,463 Selling, General and Administrative Expenses 17,824 16,066 ------ ------ Operating Income 55,136 53,350 Less Non-recurring Charges: Restructuring Costs - - Acceleration of Performance-Based Shares - - EBIT, as adjusted $55,136 $53,350 EBIT Margin, as adjusted 32.1% 33.4% ==== ==== Depreciation and Amortization $16,441 $17,375 ======= ======= Loan Transaction Services Revenue $448,044 $374,523 Cost of Sales 311,349 268,936 Selling, General and Administrative Expenses 27,064 27,359 ------ ------ Operating Income 109,631 78,228 Less Non-recurring Charges: Restructuring Costs - - Acceleration of Performance-Based Shares - - EBIT, as adjusted $109,631 $78,228 EBIT Margin, as adjusted 24.5% 20.9% ==== ==== Depreciation and Amortization $5,126 $4,608 ====== ====== Corporate and Other Revenue $(6,762) $(4,585) Cost of Sales (6,264) (4,697) Selling, General and Administrative Expenses 20,543 27,753 ------ ------ Operating Income (21,041) (27,641) Less Non-recurring Charges: Restructuring Costs - 8,186 Acceleration of Performance-Based Shares - 799 EBIT, as adjusted $(21,041) $(18,656) Depreciation and Amortization $2,021 $2,003 ====== ====== Net Earnings - 2. Reconciliation Net Earnings $75,240 $50,046 Less Non-recurring Charges: Restructuring Costs, net of tax - 5,055 Acceleration of Performance-Based Shares, net of tax - 493 --- --- Net Earnings, as adjusted 75,240 55,594 Purchase Price Amortization, net of tax (1) 4,572 4,991 Adjusted Net Earnings $79,812 $60,585 Adjusted Net Earnings Per Diluted Share $0.83 $0.64 ===== ===== Diluted Weighted Average Shares 96,133 95,284 ====== ====== Cashflow - 3. Reconciliation Cash Flows from Operating Activities: Net Earnings $75,240 $50,046 Less Non-recurring Charges: Restructuring Costs, net of tax - 4,304 --- ----- Net Earnings, as adjusted 75,240 54,350 Adjustments to reconcile net earnings to net cash provided by operating activities: Non-cash adjustments 31,700 28,090 Working capital adjustments 21,957 (2,763) ------ Net cash provided by operating activities 128,897 79,677 ------- ------ Capital expenditures included in investing activities (25,836) (22,571) Adjusted Net Free Cash Flow $103,061 $57,106 ======== ======= Notes: (1) Purchase price amortization, net of tax represents the periodic amortization of intangible assets acquired through business acquisitions primarily relating to customer lists, trademarks and non-compete agreements. SOURCE Lender Processing Services, Inc.Source: RedOrbit News - Technology | 22 Jul 2010 | 2:11 pm Can I Buy You A Drink? Genetics May Determine Sensitivity To Other People's Drinking BehaviorYour friend walks into a bar to meet you for happy hour. He sidles up to the bar and orders a drink — does that make you more likely to get a drink yourself? According to new findings reported in Psychological Science, a journal of the Association for Psychological Science, genetics may determine the extent to which you are influenced by social drinking cues — signals such as advertisements, drinks placed on a bar, and seeing other people around you drinking.Drinking alcohol increases levels of dopamine — a brain chemical that causes pleasure and makes us feel good. The dopamine D4 receptor gene (DRD4) has been shown to be involved in motivation of seeking out rewards. Research has suggested that carrying a specific form (or variant) of this gene — one that includes seven or more repeats of a certain section of the gene — may be associated with craving caused by alcohol-related cues. Psychological scientist Helle Larsen from Radboud University in The Netherlands and her colleagues wanted to investigate if this 7-repeat gene variant plays a role in how an individual responds to alcohol-related cues.For this experiment, volunteers were brought into a laboratory bar (a room set up to look like a Dutch pub) to supposedly rate a series of commercials. After the volunteers rated a number of them, they were told there would be a 30-minute break — and that during this break, they could help themselves to any of the alcoholic and nonalcoholic drinks that were available at the bar. Confederates (participants who knew what the study was about) were trained to order drinks immediately — they were to initiate drink ordering and the researchers observed which volunteers followed their lead. In addition, saliva samples were obtained from the participants for DNA analysis.The results showed an effect between how much the confederate drank and the gene variant on volunteers' alcohol consumption: When the confederate was seen consuming three or four drinks, carriers of the 7-repeat form of the gene drank more than twice as many glasses of alcohol than did noncarriers of the gene variant. However, when the confederate consumed only one drink, there was no difference in alcohol consumption between carriers and noncarriers. These findings suggest that individuals carrying this form of the DRD4 gene may be more sensitive than noncarriers to other people's drinking behavior.The authors note, "Carrying the DRD4 7-repeat genotype may increase the risk for extensive alcohol use or abuse when spending time with heavy-drinking peers." They conclude, "Whether or not people are wired to adapt their drinking to the choice and pace of others may partly depend on their genetic susceptibility to drinking cues."---On the Net:Association for Psychological SciencePsychological ScienceSource: RedOrbit News - Science | 22 Jul 2010 | 2:09 pm 3 Georgian Leaders Sign Vienna Declaration, Strengthen Call For Science-Based Drug PolicyFirst Lady Sandra Roelofs, Deputy Chairman of Parliament George Tsereteli and Vice Minister of Labor, Health and Social Affairs Irakli Giorgobiani show support for evidence-based drug policySandra Roelofs, First Lady of Georgia; George Tsereteli, Georgia's Deputy Chairman of Parliament; and Irakli Giorgobiani, Georgia's Vice Minister of Labour, Health and Social Affairs, today signed the Vienna Declaration, the official declaration of the XVIII International AIDS conference (AIDS 2010) in Vienna, Austria.The Vienna Declaration (www.viennadeclaration.com) is a scientific statement seeking to improve community health and safety by calling for the incorporation of scientific evidence into illicit drug policies. More than 12,580 people – including Nobel laureates and leaders in science, medicine and public policy – have signed the declaration since it was launched three weeks ago. The Declaration was published in the Lancet medical journal to coincide with AIDS 2010."Georgia supports evidence- based policy in our efforts to protect community health and safety," said Roelofs, the wife of Mikheil Saakashvili, President of Georgia. "Our signatures on the Vienna Declaration reinforce our recognition that harm reduction can provide numerous benefits and highlights the need to design policies that align with emerging science."Georgia is moving forward with activities that are intended to ensure safer and healthier communities across the country by taking action in three priority areas: prevention, treatment and enforcement."The health of Georgians is paramount and therefore we are looking at many ways to improve the well-being of all of our citizens, including those facing challenges such as substance use and HIV," said Giorgobiani.Added Tsereteli: "We believe a scientific approach to drug policy is the way forward. We will move in support of evidence-based research and policy to optimize investments in public health, improve existing policies, and adopt much more effective and relevant legislation."In some areas of rapid HIV spread, such as Eastern Europe and Central Asia, injecting drug use is the primary cause of new HIV infections. In some countries, people who use drugs are threatened with arrest, incarceration and worse, and therefore are reluctant to access the necessary public health services."Misguided drug policies fuel the AIDS epidemic and result in violence, increased crime rates and destabilization of entire states – yet there is no evidence that they have reduced rates of drug use or drug supply," said AIDS 2010 Chair Dr. Julio Montaner, President of the IAS and Director of the BC Centre for Excellence in HIV/AIDS. "I welcome the endorsement of the Vienna Declaration from these Georgian leaders; it provides great hope for the future in an area of the world being devastated by the HIV and AIDS epidemic."In much of the world, the current approach to drug policy is ineffective because it neglects proven and evidence-based interventions, while pouring a massive amount of public funds and human resources into expensive and futile enforcement measures. Legal barriers to scientifically proven prevention services such as needle programmes and opioid substitution therapy (OST) mean hundreds of thousands of people become infected with HIV and Hepatitis C (HCV) every year. In some areas of the world, the criminalization of people who inject drugs has also resulted in record incarceration rates placing a massive burden on taxpayers. An emphasis on criminalization produces a cycle of disease transmission, breaking homes and destroying livelihoods."Georgia is at risk of rising HIV rates due to epidemics in neighboring countries and a high rate of injection drug use, so it is gratifying to see this type of leadership and deep support for evidence-based policy-making in this area," said Dr. Evan Wood, the chair of the Vienna Declaration writing committee and founder of the International Centre for Science in Drug Policy (ICSDP).The Vienna Declaration calls on governments and international organizations to take a number of steps, including: * undertake a transparent review the effectiveness of current drug policies; * implement and evaluate a science-based public health approach to address the harms stemming from illicit drug use; * scale up evidence-based drug dependence treatment options; * abolish ineffective compulsory drug treatment centres that violate the Universal Declaration of Human Rights; and * unequivocally endorse and scale up funding for the drug treatment and harm reduction measures endorsed by the World Health Organization (WHO) and the United Nations.The declaration also calls for the meaningful involvement of people who use drugs in developing, monitoring and implementing services and policies that affect their lives.The Vienna Declaration is one step in pushing for support of science-based approaches to dealing with illicit drugs. The signature-gathering process aims to galvanise scientists and others working in illicit drug policy and place real and sustained pressure on policymakers to meaningfully consider the scientific evidence regarding the limited beneficial impact and negative unintended consequences of conventional illicit drug policies.The impact of the Vienna Declaration will be measured over the coming years, and progress reports on the adoption of evidence-based policies will be presented at subsequent International AIDS Conferences. The adoption of the Vienna Declaration's recommendations among high-level policymakers at the local, national, and international levels will also be tracked by the International Centre for Science in Drug Policy.The Vienna Declaration was drafted by an international team of scientists and other experts. It was initiated by the IAS, the International Centre for Science in Drug Policy (ICSDP), and the BC Centre for Excellence in HIV/AIDS based in Vancouver, British Columbia.Those wishing to sign on may visit www.viennadeclaration.com, where the full text of the declaration, along with a list of authors, is available. The two-page declaration references 28 reports, describing the scientific evidence documenting the effectiveness of public health approaches to drug policy and the negative consequences of approaches that criminalize drug users.---On the Net:International AIDS SocietyThe LancetSource: RedOrbit News - Science | 22 Jul 2010 | 2:07 pm Groundbreaking Sandia Study Ties Climate Uncertainties To Economies Of US StatesCalifornia, Pacific Northwest and Colorado achieve positive net impacts; other states languishA climate-change study at Sandia National Laboratories that models the near-term effects of declining rainfall in each of the 48 U.S. continental states makes clear the economic toll that could occur unless an appropriate amount of initial investment — a kind of upfront insurance payment — is made to forestall much larger economic problems down the road.Why tie climate change to economics?“Absent any idea of costs, the need to address climate change seems remote and has a diluted sense of urgency,” study lead George Backus said.The Sandia study uses probability techniques familiar to insurance companies. Tables place dollar estimates on the effects of climate change in the absence of mitigation or other policy initiatives over the 2010-2050 time period.The analysis is based upon results delivered by a variety of computational models reported by the Intergovernmental Panel on Climate Change’s Fourth Assessment Report. From those, the Sandia report estimates the range of precipitation conditions — from lows to highs — that could occur across the states. The study then presents the consequence of those levels of precipitation on the states’ economies.“On the one hand, there’s a lot of uncertainty in quantifying climate change,” said Backus. “Everyone sees that. It’s this uncertainty that presents the greatest difficulty for policy makers. If society knew how change would exactly unfold, we could undertake adaptation and mitigation responses.”Yet, Backus and his team wrote in the introduction to their paper, in other areas of interest to society, “despite uncertainty about the future, cost-benefit analyses are conducted on a daily basis as aids for policymakers on issues of critical importance to the nation such as health care, social security and defense.”By summarizing consequences over the range of predicted change — from the smallest to the greatest — the Sandia study is able to present a coherent grouping of results. Then, using well-accepted computer models, the study projects the net effect of climate change on a state’s agricultural and industrial base, and the subsequent movement of populations for livable wages.California, the Pacific Northwest and Colorado, for example, are the only states in the study that seem to benefit overall from the variation in precipitation that climate change might engender. That is because population would leave those states whose economy is hit hardest by reduced water availability, moving into and stimulating the economies of the less-affected states.While the uncertainty in climate change predictions are often given as a reason by those skeptical of climate change to ignore the problem because of the wide range of model results, the study’s authors take a point of view more common to insurance companies.In insurance, Backus said, greater uncertainty means greater risk. In such cases, insurance companies merely reflect the higher risk in a higher insurance premium. For example, the rates for well-understood risks, such as taking a commercial airline flight, are far lower than those for less-understood risks, such as taking a privately funded rocket flight.“One can emphasize the limitations of climate-change models, if one wants,” said Backus. “But the real effect of that is to accentuate risk. To an insurance company, it would mean an area is more dangerous, not less. The proper action for those who want to halt government initiatives in climate policies is to reduce the uncertainty, not raise it. They need to demonstrate, if possible, that the future climatic conditions will remain below dangerous levels.”Thus far, the only existing models say that if nothing is done now, “by the time the negative effects of climate change significantly affect populations, it will be too late to prevent the escalating damage,” Backus said.Though the study stops short of applying its techniques to address effective mitigation techniques, its writers mention the early building of sea walls against the expected rise of oceans, planting crops resistant to drought and removing carbon from the atmosphere through reforestation or geological sequestration.A further limitation is that the study only considers the impacts of near-term climate change on the U.S., disregarding worldwide impacts. It also has the imprecisions that result from neglecting a large number of influencing factors. It does not provide a risk analysis or reliability study of amelioration techniques. But the study concludes that “the larger challenge lies not in the technical difficulties of such [analyses] but rather in the communication of the risk and uncertainty in a manner that connects to the vital concerns of the policymakers.”The take-away point from the study? “It is the uncertainty associated with climate change that validates the need to act protectively and proactively.”---On the Net:Sandia National LaboratoriesSource: RedOrbit News - Science | 22 Jul 2010 | 2:02 pm WordPress Creator GPL Says WP Template Must Be GPL'dAn anonymous reader writes "Matt Mullenweg (the creator of open source blog software WordPress), after review by various legal experts, is sticking to his guns that themes and plugins that 'extend' WordPress violate the GPL if they are not themselves distributed under the GPL. Matt has gone so far as to post this on Twitter. According to Matt, the premium template called Thesis should be under the GPL and the owner is not happy about it. WordPress is willing to sue the maker of Thesis theme for not following GPL licensing. The webmasters and Thesis owners are also confused with new development. Mark Jaquith wrote an excellent technical analysis of why WordPress themes inherit the GPL. This is why even if Thesis hadn't copy-and-pasted large swathes of code from WordPress (and GPL plugins) its PHP would still need to be under the GPL."
Read more of this story at Slashdot.
Source: Slashdot | 22 Jul 2010 | 1:48 pm Guillermo Del Toro Will Rebuild Disney's Haunted Mansion in 3-DGuillermo Del Toro heads up Disney's Haunted Mansion movie project, which will be based on the theme-park attraction the director called "the most precious real estate on earth."
Source: Wired Top Stories | 22 Jul 2010 | 1:46 pm Buckyballs Found in SpaceThe discovery of these carbon structures in space could have a profound impact on our understanding of chemistry in the cosmos.Source: Discovery News - Top Stories | 22 Jul 2010 | 1:40 pm An eraser can save your memories, when its actually a USB flash driveSection: Gadgets / Other, Peripherals, Storage  When is an eraser good at saving things? Simple, when its actually a USB flash drive in disguise. And that is just the case with the Eraser USB Stick. Of course there is more to this as its not just another novelty USB flash drive that you can buy use and then stop liking in a few weeks. Instead this one is part of greater good and being used as part of a campaign for Alzheimer’s Awareness. Product [Ads Of The World] Via [Gizmodo]
Full Story » | Written by Robert Nelson for Gadgetell. | Comment on this Article » Source: Gadgetell | 22 Jul 2010 | 1:22 pm Flipboard iPad app goes from fascination to mockery in a snap - Washington Post
Source: Sci/Tech - Google News | 22 Jul 2010 | 12:46 pm The iPhone 4 “End Call” Antenna sticker becomes real
In the wake of antennagate, that little antenna-bridging “End Call” sticker you see up above has been all the rage. Really, its been everywhere. Digg! Reddit! Your dad’s Tumblr! The one place it hasn’t been, however, is on an iPhone. The image up above is obviously just a Photoshop-job, and, as far as we can tell, the clever soul who came up with the gag didn’t think to make it an actual product. Don’t worry, though — someone else has.
At-home sticker maker StickKing on Etsy jumped at the opportunity to make the whole thing real. Fortunately, unlike the fake one up above, this one won’t set you back 29 bucks. This one’ll only cost you about $4 — and thats for four of them. Unless you’ve got four iPhones, that means you’ve got some extras. Give’m to your friends! Stick’em on your dog! Better yet, give me one!
Source: MobileCrunch | 22 Jul 2010 | 12:36 pm Motorola Droid X Gets Rooted
Hardcore Android fans have been leery of the Motorola Droid X because of the chip and bootloader combination in the device that could potentially brick it if custom versions of the Android operating system are loaded on it. But now, they are a step closer to doing just that. The Droid X forum has posted step-by-step directions for rooting the Droid X–the Android equivalent of jailbreaking a device to get complete control. Rooting the device also lets users get rid of bloatware on their phones and tweak some of the features that they wouldn’t have access to otherwise. The $200 Droid X (after a $100 rebate and with a Verizon wireless contract) hit retail shelves on July 15. The phone has a 4.3-inch screen and a 1 GHz processor. It launched with Android 2.1 operating system. It is expected to get an upgrade to Android 2.2 Froyo in the summer. But last week, Android geeks found that Motorola has made it difficult for hackers to mod the Droid X by using a bootloader and chip combination that could potentially brick the phone if it is broken. The Droid X’ processor includes a feature called “eFuse” that’s intended to make it easier to tweak the chip’s power and memory after it is shipped. However, eFuse only allows the device to start up when Motorola’s software is installed, squashing hackers’ hopes that they can quickly get custom ROMs on the device. Rooting the Droid X is the first step towards being able to port a custom ROM on the phone. So far, based on the feedback in the forums, the Droid X root seems to work well. It will be interesting to see how soon the Android community can break the eFuse lock and port a custom ROM on the Droid X. See Also:
Photo: Droid X (Stefan Armijo/Wired.com) 
Source: Wired: Gadget Lab | 22 Jul 2010 | 12:09 pm Exploding Moss Launch System RevealedThe plants employ essentially the same type of propulsion mechanism that jellyfish and squid use to move through water.Source: Discovery News - Top Stories | 22 Jul 2010 | 12:01 pm Kin of the Living Dead: Microsoft updates the Kin
As much as we like to imagine that this is the work of some obsessed Kin engineer lurking around his team’s abandoned building, writing line after line of code in between passes of the security camera, that’s probably not the case. More likely: this was all sealed up before things got hairy, so they went ahead and pushed it out — the last beep before the Kin’s final flatline. Either way, the update is pretty minor: it adds Twitter avatars to the KIN loop, allows you to link Twitter accounts to contacts, and just offers up better Twitter integration all around. In other words, it’s proooobably not something that would have saved the Kin from its near-immediate demise. [Via WMPowerUser]
Source: MobileCrunch | 22 Jul 2010 | 11:45 am Solar Lightbulbs Could Replace Kerosene LanternsNew solar lightbulbs from Denver startup Nokero could be the final nail in kerosene's coffin.Source: Discovery News - Top Stories | 22 Jul 2010 | 11:17 am Altered photos found on BP site - Washington Post
Source: Sci/Tech - Google News | 22 Jul 2010 | 10:59 am Storm Could Delay Efforts to Seal BP WellA potential cyclone may move into the Gulf and stall BP's operations by 10 to 14 days.Source: Discovery News - Top Stories | 22 Jul 2010 | 10:27 am 2010 EMEA Scholars’ Retreat: top CS students share their impressionsBack in June, our Zurich engineering headquarters welcomed 100 of EMEA’s brightest computer science students to our annual Europe, Middle East and Africa Scholars’ Retreat. Recipients of the Google Europe Scholarship for Students with Disabilities joined Anita Borg Memorial Scholars and Finalists for three days of workshops, technical talks, poster sessions, networking events and, of course, lots of fun! Check out our video below to hear from scholars and speakers in their own words:Our academic scholarships are designed to support a new generation of talented, diverse computer scientists from all backgrounds. If you want to learn more, visit www.google.com/university/emea for a complete list of scholarships, grants and other opportunities available to students and academics. Posted by Caitlin Pantos, University Programs Specialist   
 Source: The Official Google Blog | 22 Jul 2010 | 10:09 am Caterpillars Move Guts-FirstX-ray analysis shows the insects slide their guts ahead before moving the rest of their body in a unique form of motion that may inspire new robot designs.Source: Discovery News - Top Stories | 22 Jul 2010 | 10:00 am Stonehenge Twin Found Near Ancient MonumentA wooden version of the world-famous stone structure has been discovered by British archaeologists.Source: Discovery News - Top Stories | 22 Jul 2010 | 9:25 am India’s New Android Tablet Looks Pretty Great
If you thought then Droid X was big, check out the Olivepad from India’s Olive Telecom. The 7-inch tablet, halfway in size between a smartphone and an iPad, will actually make phone calls (although we’d suggest a headset of some kind unless you want to attract amused stares). The Android 2.1 tablet actually looks pretty sweet, with 3.5G HSUPA, GPS, Bluetooth, Wi-Fi and even a TV-tuner. It trumps the iPad in two areas: a 3 megapixel camera and a USB port (mini). Memory is limited, with just half a gig of RAM (expandable via SD-card) and the screen resolution is an acceptable-for-the-size 800 x 480 pixels. What I like most about it is that it has a measure of honesty. While the EVO and other Android phones are really a little to large to call phones, the Olivepad is a flat-out tablet with a vestigial phone attached. The price, when it launches in India in August, will be somewhere around $500. That makes the iPad look pretty cheap (but then, the iPad won’t fit in your pocket). And one more thing: The Olivepad plays Flash. Olive Telecom Launches India’s First 3G Tablet [Olive Telecom Via Engadget and Times of India] See Also:
Follow us for real-time tech news: Charlie Sorrel and Gadget Lab on Twitter. 
Source: Wired: Gadget Lab | 22 Jul 2010 | 9:12 am How Do Oil Skimmers Work?In the wake of the Deepwater Horizon disaster, oil skimming innovations have revved up in a field that hasn't changed much in 20 years.Source: Discovery News - Top Stories | 22 Jul 2010 | 8:58 am Plane Lands Like a Bird on a WireThe design could allow robotic planes better maneuverability and the ability to recharge batteries by alighting on lines.Source: Discovery News - Top Stories | 22 Jul 2010 | 8:13 am AT&T put their name down for 8 million Windows Phone 7 devices
Michael Gartenberg — technology columnist to the stars — tweeted out today that a trusted source told him that AT&T have signed up for eight million WP7 devices — which is approximately one million times more than the number of Kins sold. To put that number in perspective, Apple moved about that many iPhones in the last quarter. Now, I can’t say how quickly AT&T expect to move those numbers, but they wouldn’t be expecting anything near the speed with which the iPhone sells. The point here is that AT&T have enough faith in the platform that they reckon they can move that much. Of course, it it won’t be the networks that will decide the success of the platform; that part of the story lies in the hands of consumers and developers. [via Slash Gear]
Source: MobileCrunch | 22 Jul 2010 | 7:58 am Flush it Real Good: HighDro Power Turns Waste Water into Electricity
Broadbent is a graduate of the De Montfort University in Leicester (that’s pronounced “lester”) in England. His device uses the energy of the waste water as it falls through the pipes, just like a hydroelectric dam, only smaller and not flooding valleys and forcing people to move out. The HighDro Power isn’t meant for the home. Rather, it would be inserted into the plumbing of commercial buildings, taking the fast moving water from long soil pipes and converting them to energy via four blades which turn a turbine. By Broadbent’s reckoning, the device would save $1,400 in electricity costs per year in a seven-story building. The neat part is that the box is made from off-the-shelf parts along with sections that Broadbent put together in a fab-lab using lasers, CNC-milling and vacuum forming machines. In larger production, then, it should be cheap enough to pay for itself very quickly, and in places like hotels, with their endlessly-emptying baths and showers, it could even turn into a money-maker as the energy is sold back to the grid. Waste Not Want Not with DMU Student’s Electric Idea [Creative Boom via Core77] See Also:
Follow us for real-time tech news: Charlie Sorrel and Gadget Lab on Twitter. 
Source: Wired: Gadget Lab | 22 Jul 2010 | 7:49 am Protective Keyboard Cases Signal End of Civilization
When you’re a professional gadget blogger, you see a lot of oddities. None of them, though, makes me weep for the future of the human race more than the keyboard case, a sleeve designed to protect possibly the hardiest piece of computer hardware you own. These two cases, from WaterField Designs, happen to be for the ridiculously resilient, tough and lightweight aluminum bluetooth keyboard from Apple, but their absolute wrongness would apply to any keyboard. But first, lets look at just what perils await a poor keyboard in the horrific depths of your bag. Let’s assume that you don’t throw in handfuls of grit and half-eaten packs of Cheetos into your bag along with your more valuable goods. Perhaps you may have tossed in some keys? Or a picnic knife has worked its way loose? While a cellphone or tablet computer may risk a scratch to its screen, a scrape on a keyboard won’t make any difference. Who cares if the home keys get a chunk taken out, or the back of the ‘board gets dirtied up? Just typing on the thing with your filthy hands probably does more damage. And then, why are you carrying a keyboard in the first place? Perhaps you are on a business trip and plan to do some heavy work on your iPad? Then pack the keyboard in with your clothes. Otherwise, you don’t even need that keyboard. Your laptop has one built-in, remember, and you probably aren’t carrying a desktop machine on the road. Even so, I guess there must be a market for such things, and this is what causes the tears of pity and sorrow to moisten my normally parched, cracked ducts. If you are in fact thinking of wasting some money, you can have the budget Keyboard Socket for $15, cut from the finest “scratch-free material”, or opt for the Keyboard Slip, a $30 case fashioned from ballistic nylon with a padded interior. What’s more, “a piping trimmed edge let’s [sic] you chose [sic] to add a splash of bold color, or to stay under the radar with subdued tones.” Cheeky! Keyboard Slip [WaterField Designs via MacUser] Keyboard Socket [WaterField Designs] Follow us for real-time tech news: Charlie Sorrel and Gadget Lab on Twitter. 
Source: Wired: Gadget Lab | 22 Jul 2010 | 7:13 am Droid X has fallen to the rooters
Those of you that got their hands on one before the inventory inexplicably ran out, can now revel in the news that your new handsets can now run all those super-special, root only applications that your friends have been rubbing your face in all week. Now, just to remind all of you that this doesn’t mean that the kill switch has been overcome, nor that custom bootloaders are even yet possible. Rooting is just the first steps of a challenging journey fraught with great peril. So what are you waiting for, people? Step-by-step instructions are available over at All Droid. BYO command line. [via Android Central]
Source: MobileCrunch | 22 Jul 2010 | 7:11 am Footprint Fossils Analyzed for Ancient Human GaitResearchers compare the gait and foot structure of modern humans to a collection of 1.5 million year old footprints discovered in Kenya.Source: Discovery News - Top Stories | 22 Jul 2010 | 6:33 am Skype for iPhone Now Runs in Background, Replaces Phone App
Now you can all but replace you regular cellphone service. Skype v2.0.1 will run constantly in the background, listening for calls and messages, and will alert you when one comes in. To answer, you just tap the button that pops up. And while Skype doesn’t (yet) have access to the front-facing camera for video calls, it will work over 3G. In fact, Skype has abandoned its plans to charge for calls over 3G in the future. With many cellphone plans offering so many voice minutes that they seem almost endless, you may wonder why Skype is worth the bother. The main benefit is in making cheap international calls using Skype Out, which lets you call regular phones. And when iOS 4 finally lands on the iPad, you’ll be able to make calls wherever you are, without any kind of phone contract. The new Skype is available now, as a free download in the App Store. Skype [iTunes] Skype now supports multitasking, no additional charges for calling over 3G [Skype Blog] See Also:
Follow us for real-time tech news: Charlie Sorrel and Gadget Lab on Twitter.. 
Source: Wired: Gadget Lab | 22 Jul 2010 | 6:05 am WD-40 Celebrates Old-Age with 1950s-Style Can
Next to duct-tape, WD-40 is probably the most important tool in any MacGyver’s kit. It can be used and misused for almost any purpose, from lubricating bike chains (bad: it will just clean off any grease you have) through winter-proofing old car-ignition systems (good: What did you think the “WD” stands for, anyway) to making a tasty cake-frosting (what?). WD-40 has been around since 1953, and now the company is “celebrating” (read “promoting”) with a Now & Then Twin Pack of the water-dispersing stuff. In the pack you get the boring modern-day can along with another tin in the original black and yellow livery. The pack is apparently a limited edition, but as it is available in Walmart, we wonder just how limited that might be. Go pick one up and marvel that the Flux-Capacitor, the thing that makes time travel possible, was invented just two years later. Coincidence? I don’t think so. 50+ Years, 2,000+ Uses [WD-40 via the Giz] See Also: Follow us for real-time tech news: Charlie Sorrel and Gadget Lab on Twitter. 
Source: Wired: Gadget Lab | 22 Jul 2010 | 5:18 am Compass, an Elegant Fold-Up Stand for iPad
Twelvesouth’s Compass stand looks more like a medical instrument than an iPad accessory, but that’s what it is. The divider-shaped unit splits in the middle and the legs splay to make a rather sleek-looking tripod. Two little “feet” flip out from the “ankles” to support the iPad’s lower edge, and a soft circular pad caresses its back whether in portrait or landscape position. The stand is good for typing, too. See the extra little foot contained in the, erm, upper thigh of the main leg? That pops out to support the iPad at a much shallower angle. Twelvesouth has a history of making fair-priced, well-designed Apple accessories, from the simple BookArc MacBook stand to the BassJump sub-woofer that backs up the MacBook’s own little speakers. And at $40 the Compass is eminently affordable, especially when compared to the cheap plastic tat available for similar prices. What really stands out about the Compass (apart from its looks) is that it folds up into such a portable package. When scissored shut, it is barley an inch wide and even comes with its own little carrying case. I’ll stick with my Gorillapod solution for now, though, as it double-duty as a camera stand and, as it is pretty much all plastic-coated, there’s no chance of scratches. Compass [Twelvesouth] See Also:
Follow us for real-time tech news: Charlie Sorrel and Gadget Lab on Twitter. 
Source: Wired: Gadget Lab | 22 Jul 2010 | 4:55 am
|
Apple (AAPL) says 
FaceTime is pretty typical of an Apple consumer-level application: it is insanely polished, easy to use and high on the wow-factor, but lacking in the most basic features. That’s just what Faceplant adds.
Regardless of what you think about the whole iPhone 4 antenna debate, there’s no denying that it’s fueling a massive amount of creativity on the Internet. We’ve got the 
In season 1 of AMC’s hit show Mad Men, Rachel Menken 
The federal government has censored approximately 90 per cent of a secret document outlining its controversial plans to snoop on Australians' web surfing, obtained under freedom of information (FoI) laws, out of fear the document could cause "premature unnecessary debate".
In 2008, the Supreme Court of the United States' ruling in Riegel v. Medtronic, Inc. made people with IMDs even more vulnerable to negligence on the part of device manufacturers.4 Following a wave of high-profile recalls of defective IMDs in 2005, the Court's decision prohibited patients harmed by defects in FDA-approved devices from seeking damages against manufacturers in state court and eliminated the only consumer safeguard protecting patients from potentially fatal IMD malfunctions: product liability lawsuits. Prevented from recovering compensation from IMD-manufacturers for injuries, lost wages, or health expenses in the wake of device failures, people with chronic medical conditions are now faced with a stark choice: trust manufacturers entirely or risk their lives by opting against life-saving treatment.
Disney and social gaming startup 
Reading over the press release for the new “Antenna Meter” application for RIM’s BlackBerry devices, I’ll admit that I was bored. Okay, so it’s exactly what it says it is: an antenna meter. But aha! The two companies behind the app, 
Yep, a wooden USB drive — we’ve 
On today’s episode of 
Amazon announced today that it had reached an agreement with Andrew Wylie, head of the successful New York agency whose 
I think at one time or another, we’ve all bought a game and been disappointed in the quality. Perhaps you bought the game because it was a tie in to something you liked (the Evil Dead games in my case) or because you were fooled by clever product descriptions. For whatever reason, you bought the game, and it was a disappointment. Well, in a recent interview, THQ’s VP of Global Publishing Ian Curran has come out and said that spending development dollars on a mediocre title equals death in the marketplace. I say good, publishers should be punished for releasing crap.
Make no mistake, we get some 
It turns out that the Droid X has a pretty neat little feature. It was not exactly hidden but I suspect some may have overlooked it, myself included. The feature—a “Print to Retail” option for sharing photos. Or in this case, sending photos. Anyway, the Droid X will send your camera images to your local CVS or Costco for printing and pickup. Its simple enough to use in that you click “Share” and then “Print to Retail.” From there you enter a zip code and are presented with locations to choose from. Of course, the catch here is that you then have to pick the prints up. In the end, a nice little perk for those who like to have real pictures to have and hold. Plus with the 8 megapixel camera on the Droid X you are likely to have some nice pictures as a result.
The giveaways continue! 
Hooo-ee! AT&T have clearly got high hopes for Microsoft’s upcoming mobile OS reboot, 
When you pull the chain on your cistern, you are literally flushing energy down the toilet. Tom Broadbent’s HighDro Power takes that energy and turns it into electricity.
One of the “tent-poles” of Apple’s iOS4 is multitasking, and one of the biggest features of iOS multitasking is letting VoIP applications continue to run in the background, alerting you when a call comes in, for instance. Until today, though, this has been largely moot as the big daddy of VoIP – Skype – had not been updated to use this new feature.
