Featured Suppliers:
Sponsored Links
Technology Solutions Company
News and Blogs
Total : 46 View more »
QinetiQ North America: QinetiQ North America Announces Former Deputy National Security Advisor Will Lead Its Technology Solutions Group
www.marketwire.com
MCLEAN, VA--(Marketwire - November 3, 2009) - QinetiQ North America today announced that Dr. J.D. Crouch II has been appointed president of its Technology Solutions Group. Dr. Crouch has served as the company's executive vice president for strategic development since May 11, 2009, leading the
http://www.marketwire.com/press-release/Qinetiq-North-America-LSE-QQ-1069696.html
CIOs are followers, not leaders
www.computerweekly.com | Sep 29, 2009
Fujitsu Technology Solutions has warned that excessive caution amongst CIOs and IT directors could be hampering innovation as research showed that just one...
http://www.computerweekly.com/Articles/2009/09/29/237909/cios-are-followers-not-leaders.htm
Avnet and Kodak Service Agreement Enhances Customer Service and Choice
www.itbprinter.com
Bracknell, Berkshire, UK: 2 November, 2009 - Avnet Technology Solutions, a value-added distributor of enterprise computing products and an operating group of Avnet, Inc. (NYSE:AVT) today announced that it has signed a service agreement with Kodak, the world’s foremost imaging innovator.
Fujitsu raises the stakes in virtualization and energy efficiency at Gitex 2009
www.ameinfo.com | Sep 8, 2009
Fujitsu Technology Solutions will utilize its presence at Gitex 2009 to leverage its latest virtualization and energy efficient solution in form of the Dynamic Cube.
News from Zibb.com
Total : 83 View more »
Stockguru.com: Biomedical Technology Solutions Holdings Inc. is in the StockGuru Spotlight for
Nov 05, 2009 (M2 PRESSWIRE via COMTEX) --
DALLAS, TEXAS : StockGuru announces that Biomedical Technology Solutions Holdings Inc. (OTCBB: BMTL) is in the StockGuru Spotlight. Biomedical Technology Solutions Holdings, Inc., located in Englewood, Colorado sells the Demolizer II through its wholly owned subsidiary Biomedical Technology Solutions, Inc. BMTS' patented Demolizer Technology converts infectious biomedical waste into non-infectious material. BMTS' products provide biomedical waste treatment solutions for the over 1,000,000 low to medium volume medical waste generators in the US and a global market five times larger than the US.
On Wednesday, the company put out news announcing the introduction of the Demolizer II System into the Geisinger Health organization for the onsite treatment of biomedical waste. The Geisinger Health System is one of the nation's leading fully integrated health services organizations. Founded in 1915, Geisinger is a physician-led health care system, dedicated to health care, education, research and service spanning 43 counties in Pennsylvania and serving over 2.6 million people in primarily rural communities.
Shares for Biomedical Technology Solutions Holdings Inc. (OTCBB: BMTL) were up during the afternoon of trading on Wednesday and closed slightly up at closing.
To view our StockGuru Spotlight on Biomedical Technology Solutions Holdings Inc. (OTCBB: BMTL), please visit: http://www.stockguru.com
What is the StockGuru Spotlight? The StockGuru Spotlight features stocks that we expect some action in. Generally speaking we expect a strong showing in the market based on the market, our knowledge of the stock and the buzz in the markets. Many times these will be stocks that have big news out recently, there is fresh interest in getting the word out on these stocks or we hear a buzz in our day to day contacts on these stocks. If we think it is going to move or see action, we put it in the StockGuru Spotlight. If we are compensated for a stock in the Spotlight, it will be clearly disclosed within this Spotlight Announcement.
If you think a company should be featued in the StockGuru Spotlight, please let us know. If you are a key person for a publicly traded company, we can consider your company for either a StockGuru Spotlight or a StockGuru Profile. Please contact our Publisher John Pentony at the john@stockguru.com. You may also telephone John Pentony at (469) 252-3031.
Stockguru.com ("SG") provides its members with the latest news, press releases, and research reports for all the companies highlighted on the site. SG utilizes information believed to be reliable herein prepared all material. The information contained herein is not guaranteed by SG to be accurate, and should not be considered to be all-inclusive. The owner, publisher, editor and their associates are not responsible for errors and omissions. They may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. Any opinions expressed are subject to change without notice. SG encourages readers and investors to supplement the information in these reports with independent research and other professional advice. All information on featured companies is provided by the companies profiled, or is available from public sources and SG makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies or the information contained herein. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. SG is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed onhttp://www.Stockguru.com or mentioned herein.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected", "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies= annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and SG undertakes no obligation to update such statements. Pentony Enterprises LLC is occassionally compensated for coverage. When this is the case, we indicate clearly with a disclosure of all compensation received in the past and present, plus we also disclose any anticipated compensation in the future. Compensation is typically in cash. Sometimes a third party shareholder pays us in free trading shares. Sometimes a company pays us in restricted shares. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
CONTACT: John Pentony, Publisher, Stockguru.com Tel: +1 469 252 3031 e-mail: john@stockguru.com
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
Tags: advisor annual report biomedical broker colorado dealer education e-mail health investment investment opinion market medical pennsylvania products publisher research securities technology web
Companies: BioMedical Technology Solutions Holdings Inc (BMTL)
Avnet Technology Solutions: Avnet and Kodak Service Agreement Enhances Customer Service and Choice
Bracknell, Berkshire, UK, Nov 02, 2009 (M2 PRESSWIRE via COMTEX) --
Avnet Technology Solutions, a value-added distributor of enterprise computing products and an operating group of Avnet, Inc. (NYSE:AVT) today announced that it has signed a service agreement with Kodak, the world's foremost imaging innovator. Under the terms of the agreement, Kodak will service the majority of document scanners distributed by Avnet in the UK and Ireland for various manufacturers, enhancing Avnet's existing service offerings in these regions. Further European countries will be added to the agreement later in the year.
"In today's tough economic climate our channel partners need value-added services that will help them increase revenue, retain existing customers and deliver a competitive advantage. Avnet's service agreement with Kodak enables resellers to offer a fully rounded solution that will differentiate them from their competitors, increase the value of their sales and provide a stream of regular renewals revenue," explained Mark Hawkins, Head of Strategic Alliances, Document Management Technology, Avnet Technology Solutions, EMEA.
"As a services-focused organisation with a dedicated and award-winning global services and support infrastructure, Kodak will enable Avnet to provide a comprehensive, single-source service offering covering the majority of our major document scanning brands. Avnet's vendor neutral position remains unchanged. We have taken a great deal of care in the drafting of our agreement with Kodak to ensure that our business partnerships with our other document scanner manufacturers remain both protected and unaltered. Our sales team will remain focused on creating sales opportunities for document scanners regardless of the manufacturer," Hawkins continued.
Kodak also offers service capabilities across a wide range of products, not distributed by Avnet, within the IT sector, and Avnet's channel partners will now be able to extend their portfolio to include these additional services. The ability to deliver an increased choice of service support from Kodak adds increased value to Avnet's channel partners' offering.
"This is an exciting development for Kodak, as it strengthens our existing relationship with Avnet, one of Kodak's leading distributors in EAMER by giving our joint channel partners access to a broader range of Kodak services. Like Avnet, Kodak understands what the channel is trying to achieve, and our goal is to help partners get there faster. Post-sale services help our channel partners maximise their relationship with their most valuable asset, the end user," concluded David Brown, EAMER Business Services Director, Business Solutions and Services Group, Kodak.
About Kodak
As the world's foremost imaging innovator, Kodak helps consumers, businesses, and creative professionals unleash the power of pictures and printing to enrich their lives. To learn more, visit http://www.kodak.comand follow our blogs and more at http://www.kodak.com/go/followus. More information about KODAK Document Imaging Scanners and Services is available at www.kodak.com/go/docimaging.
About Avnet Technology Solutions
Avnet Technology Solutions is an operating group of Phoenix-based Avnet, Inc. As a global technology sales and marketing organization, Avnet Technology Solutions has sales divisions focused on specific customer segments and a select line card strategy enabling an exceptional level of attention to the needs of its customers and suppliers. For fiscal year 2009, the group served customers in more than 30 countries and generated US $7 billion in annual revenue. Visit: www.ts.avnet.com/emea/
About Avnet
Avnet Inc. (NYSE:AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology in the world. Avnet accelerates its partners' success by connecting the world's leading technology suppliers with a broad base of more than 100,000 customers and providing cost-effective, value-added services and solutions. For the fiscal year ended June 26, 2009, Avnet generated revenue of $16.23 billion. For more information, visit www.avnet.com.
CONTACT: Kirsten Klatt, European Marketing & Communications Director, Avnet Technology Solutions, EMEA e-mail: Kirsten.klatt@avnet.com Tel: +49 (0) 2153 733 328 Sarah Chidgey, Head of PR, Essential Communications Tel: +44 (0) 1635 43967 WWW: http://www.essential-communications.com
((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.
Tags: business business services communications computer data storage distributor e-mail ireland knowledge management marketing nyse products revenue sales technology web
Companies: Avnet, Inc. (AVT), Technology Solutions Co. (TSCC)
Cincinnati Bell Inc. Reports Third Quarter 2009 Results - Zibb.com
CINCINNATI, Nov 04, 2009 (BUSINESS WIRE) --
--Revenue of $338 million down 3 percent to last year and up 3 percent sequentially;
--Adjusted EBITDA of $120 million flat to last year and up 2 percent sequentially;
--Returned $58 million to shareholders - $25 million of share repurchases and $33 million of debt repurchases at a 24 percent discount;
--Completed $500 million issuance in October 2009 of 81/4% Senior Notes due 2017 to call the company's outstanding 71/4% Senior Notes due 2013 -- eliminating all significant debt maturities until 2014;
--Named recently as service provider partner to the newly formed Virtual Computing Environment Coalition, a joint venture including Cisco, EMC and VMware;
--Reiterates 2009 guidance
Cincinnati Bell Inc. (NYSE:CBB) today announced third quarter 2009 net income of $28 million, or 12 cents diluted earnings per share, which is a per share increase of 18 percent compared to the third quarter of 2008 and 7 percent versus the second quarter of 2009. Total revenues for the third quarter 2009 of $338 million decreased 3 percent from the third quarter of 2008 but increased 3 percent sequentially. Operating income of $73 million, which includes a $5 million loss on sale of wireless spectrum, decreased $7 million or 8 percent compared to the third quarter 2008, and decreased $2 million or 3 percent compared to the second quarter 2009. Adjusted earnings before interest, taxes, depreciation and amortization(1) (Adjusted EBITDA) of $120 million was comparable to last year and up $2 million or 2 percent sequentially.
"Despite the continuing difficult economic climate, we are pleased that our revenue increased compared to the second quarter, driven by growth in our Technology Solutions and Wireless businesses. This enabled us to deliver the same level of Adjusted EBITDA that we generated last year," said Jack Cassidy, president and chief executive officer. "Now that we have refinanced our 2013 debt, we have a significant amount of operating and financial flexibility. This flexibility will allow us to focus our efforts on investing and growing our data center business, which over the last few years has performed extremely well and was recently recognized as a service provider partner to the newly formed Virtual Computing Environment Coalition. This joint venture includes Cisco, EMC and VMware and will provide private virtualized cloud services. We believe this partnership will continue to help transform and further grow our data center business."
Quarterly Highlights
-- Quarterly revenue from Technology Solutions totaled $78 million, reflecting a year-over-year increase in data center and managed services revenue of $3 million or 10 percent and an increase in revenue from telecom and IT equipment of $2 million or 5 percent. The growth in the data center business was the primary contributor to the 16 percent increase in Adjusted EBITDA for Technology Solutions. On a sequential quarterly basis, revenue and Adjusted EBITDA increased 18 percent and 21 percent, respectively, due to increased equipment sales.
-- Wireless service revenue in the third quarter 2009 was $72 million compared to $74 million in the prior year quarter. Higher data revenue, driven by smartphone subscriber growth, was more than offset by lower voice revenue resulting from a year-over-year decline in postpaid voice minutes of use per subscriber. Cincinnati Bell's focus on smartphone subscriber growth resulted in an additional 6,000 smartphone subscribers in the third quarter of 2009.
-- Cincinnati Bell continued to repurchase common stock under the program authorized by its Board of Directors in February 2008. In the third quarter of 2009, common stock repurchases totaled 7 million shares for $25 million. Since the program's inception, the company has purchased 44 million shares for $136 million, representing 18 percent of shares outstanding at the end of 2007 and leaving $14 million to be spent in the fourth quarter to complete the program.
-- The company's net debt(2) decreased by $86 million from the third quarter of 2008 to $1.89 billion, dropping below $1.9 billion for the first time in 10 years. Free cash flow(3) of $35 million for the third quarter of 2009 increased $12 million from the prior year period.
Financial and Operations Review
"This quarter's profitability clearly shows the results of the aggressive expense reductions we took in the first half of the year, which enabled us to improve our Adjusted EBITDA margin by almost a full percentage point and deliver the same Adjusted EBITDA versus the prior year on lower revenue," said Gary Wojtaszek, chief financial officer. "We also continued to focus on managing our balance sheet by completing an additional $25 million of share repurchases, opportunistically purchasing $33 million of debt at a 24 percent discount, and, in October 2009, refinancing $440 million of debt with a very attractive $500 million 8 1/4% senior notes offering that doesn't mature until 2017."
Wireline Segment
Third quarter 2009 revenue totaled $191 million, a decrease of $10 million or 5 percent from a year ago. The cost reduction programs initiated by the company caused operating income of $66 million and Adjusted EBITDA of $93 million to both be flat compared to the third quarter of 2008.
Year-over-year total access line loss in the third quarter 2009 was 6.8 percent, consistent with the overall loss experienced over the past year. Growth in residential and business access lines in the company's expansion markets continued to partially offset the impact of a loss of access lines in its traditional service area.
Wireless Segment
Quarterly revenue from the Wireless segment of $78 million decreased $3 million or 4 percent compared to the prior year, and increased $1 million or 2 percent versus the second quarter of 2009. Third quarter 2009 operating income of $4 million includes a $5 million loss on the sale of wireless spectrum for the Indianapolis, Indiana region, and is the primary cause of the $7 million operating income decrease compared to the third quarter of 2008. Adjusted EBITDA of $19 million decreased by $2 million compared both to the prior year and the second quarter of 2009.
Postpaid subscriber average revenue per user (ARPU) in the third quarter was $49.27 compared to $48.82 a year ago and included data ARPU growth of 23 percent. This improvement reflects positive momentum in acquiring smartphone subscribers. Prepaid ARPU was $28.70, up $2.37 year-over-year.
Technology Solutions Segment
Technology Solutions quarterly revenue of $78 million increased $5 million or 7 percent from the third quarter of 2008, which includes an increase in data center and managed services revenue of $3 million or 10 percent year-over-year. Operating income of $7 million and Adjusted EBITDA of $12 million were both up 16 percent from a year ago, driven by the increased data center revenue.
Compared to the second quarter of 2009, revenue increased $12 million or 18 percent due to increased equipment sales, as customer demand for IT equipment that had been suppressed by the economy began to be realized in the third quarter of 2009. Operating income and Adjusted EBITDA were both up $2 million sequentially due to the increased equipment sales and lower operating costs.
Data center utilization was 80 percent on 271,000 square feet of data center space at September 30, 2009 compared to 88 percent on 202,000 square feet at the end of the third quarter of 2008.
2009 Outlook
Cincinnati Bell reaffirms its guidance for 2009:
Category 2009 Guidance
Revenue $1.3 - $1.4 billion
Adjusted EBITDA Approx. $480 million*
Free Cash Flow Approx. $150 million*
*Plus or minus 2 percent
Conference Call/Webcast
Cincinnati Bell will host a conference call today at 10:00 a.m. (ET) to discuss its results for the third quarter of 2009. A live webcast of the call will be available via the Investor Relations section of www.cincinnatibell.com. The conference call dial-in number is (866) 780-1233. Callers located outside of the U.S. and Canada may dial (816) 581-1571. A taped replay of the conference call will be available one hour after the conclusion of the call until 5:00 p.m. on November 18, 2009. For U.S. callers, the replay will be available at (888) 203-1112. For callers outside of the U.S. and Canada, the replay will be available at (719) 457-0820. The replay reference number is 1849573. An archived version of the webcast will also be available in the Investor Relations section of www.cincinnatibell.com.
Safe Harbor Note
Certain of the statements and predictions contained in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act. In particular, statements, projections or estimates that include or reference the words "believes," "anticipates," "plans," "intends," "expects," "will," or any similar expression fall within the safe harbor for forward-looking statements contained in the Reform Act. Actual results or outcomes may differ materially from those indicated or suggested by any such forward-looking statement for a variety of reasons, including, but not limited to: changing market conditions and growth rates within the telecommunications industry or generally within the overall economy; changes in competition in markets in which the company operates; pressures on the pricing of company products and services; advances in telecommunications technology; the ability to generate sufficient cash flow to fund the company's business plan, repay the company's debt and interest obligations, and maintain its networks; the ability to refinance indebtedness when required on commercially reasonable terms; changes in the telecommunications regulatory environment; changes in the demand for the company's services and products; the demand for particular products and services within the overall mix of products sold, as the company's products and services have varying profit margins; the company's ability to introduce new service and product offerings on a timely and cost effective basis; work stoppage caused by labor disputes; restrictions imposed under various credit facilities and debt instruments; the company's ability to attract and retain highly qualified employees; the company's ability to access capital markets and the successful execution of restructuring initiatives; changes in the funded status of the company's retiree pension and healthcare plans; disruption in operations caused by a health pandemic, such as the H1N1 influenza virus; changes in the company's relationships with current large customers, a small number of whom account for a significant portion of company revenue; and disruption in the company's back-office information technology systems, including its billing system. More information on potential risks and uncertainties is available in recent filings with the Securities and Exchange Commission, including Cincinnati Bell's Form 10-K report, Form 10-Q reports and Form 8-K reports. The forward-looking statements included in this release represent company estimates as of November 3, 2009. Cincinnati Bell anticipates that subsequent events and developments will cause its estimates to change.
Use of Non-GAAP Financial Measures
This press release contains information about adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA), net debt, free cash flow, and net income excluding special items. These are non-GAAP financial measures used by Cincinnati Bell management when evaluating results of operations and cash flow. Management believes these measures also provide users of the financial statements with additional and useful comparisons of current results of operations and cash flows with past and future periods. Non-GAAP financial measures should not be construed as being more important than comparable GAAP measures. Detailed reconciliations of Adjusted EBITDA, net debt, free cash flow, and net income excluding special items to comparable GAAP financial measures have been included in the tables distributed with this release and are available in the Investor Relations section of www.cincinnatibell.com.
(1)Adjusted EBITDA provides a useful measure of operational performance. The company defines Adjusted EBITDA as GAAP operating income plus depreciation, amortization, restructuring charges, asset impairments, and other special items. Adjusted EBITDA should not be considered as an alternative to comparable GAAP measures of profitability and may not be comparable with the measure as defined by other companies.
(2)Net debt provides a useful measure of liquidity and financial health. The company defines net debt as the sum of the face amount of short-term and long-term debt and unamortized premium and/or discount, offset by cash and cash equivalents.
(3)Free cash flow provides a useful measure of operational performance, liquidity and financial health. The company defines free cash flow as cash provided by (used in) operating, financing and investing activities, adjusted for the issuance and repayment of debt, debt issuance costs, the repurchase of common stock, and the proceeds from the sale or the use of funds from the purchase of business operations. Free cash flow should not be considered as an alternative to net income (loss), operating income (loss), cash flow from operating activities, or the change in cash on the balance sheet and may not be comparable with free cash flow as defined by other companies. Although the company feels that there is no comparable GAAP measure for free cash flow, the attached financial information reconciles free cash flow to the net increase (decrease) in cash and cash equivalents.
Net income excluding special items provides a useful measure of operating performance. Net income excluding special items should not be considered as an alternative to comparable GAAP measures of profitability and may not be comparable with net income excluding special items as defined by other companies.
About Cincinnati Bell Inc.
With headquarters in Cincinnati, Ohio, Cincinnati Bell (NYSE: CBB) provides integrated communications solutions--including local, long distance, data, Internet, and wireless services--that keep residential and business customers in Greater Cincinnati and Dayton connected with each other and with the world. In addition, businesses nationwide ranging in size from start-up companies to large enterprises turn to Cincinnati Bell for efficient, scalable office communications systems as well as complex information technology solutions including data center and managed services. Cincinnati Bell conducts its operations through three business segments: Wireline, Wireless, and Technology Solutions. For more information, visit www.cincinnatibell.com.
Cincinnati Bell Inc.
Consolidated Statements of Income
(Unaudited)
(Dollars in millions, except per share amounts)
Three Months Nine Months
Ended September 30, Change Ended September 30, Change
2009 2008 $ % 2009 2008 $ %
Revenue $ 337.7 $ 346.5 $ (8.8 ) (3%) $ 990.8 $ 1,046.2 $ (55.4 ) (5%)
Costs and expenses
Cost of services and products 152.9 154.8 (1.9 ) (1%) 431.0 473.6 (42.6 ) (9%)
Selling, general and administrative 64.7 71.5 (6.8 ) (10%) 209.4 213.8 (4.4 ) (2%)
Depreciation and amortization 41.2 38.7 2.5 6% 122.0 113.7 8.3 7%
Restructuring charges (gains) 0.9 1.7 (0.8 ) (47%) (5.5 ) 27.1 (32.6 ) n/m
Loss on sale of asset and asset impairment 4.8 - 4.8 n/m 4.8 1.2 3.6 n/m
Operating income 73.2 79.8 (6.6 ) (8%) 229.1 216.8 12.3 6%
Interest expense 31.5 35.0 (3.5 ) (10%) 94.6 106.1 (11.5 ) (11%)
Other income, net (7.7 ) (1.0 ) (6.7 ) n/m (7.4 ) (2.4 ) (5.0 ) n/m
Income before income taxes 49.4 45.8 3.6 8% 141.9 113.1 28.8 25%
Income tax expense 21.7 19.2 2.5 13% 59.1 48.0 11.1 23%
Net income 27.7 26.6 1.1 4% 82.8 65.1 17.7 27%
Preferred stock dividends 2.6 2.6 - 0% 7.8 7.8 - 0%
Net income applicable to common shareowners $ 25.1 $ 24.0 $ 1.1 5% $ 75.0 $ 57.3 $ 17.7 31%
Basic earnings per common share $ 0.12 $ 0.10 $ 0.35 $ 0.24
Diluted earnings per common share $ 0.12 $ 0.10 $ 0.34 $ 0.23
Weighted average common shares outstanding (in
millions)
- Basic 209.0 233.7 215.7 240.6
- Diluted 213.2 239.2 218.1 247.0
Cincinnati Bell Inc.
Income Statement by Segment
(Unaudited)
(Dollars in millions)
Three Months Nine Months
Ended September 30, Change Ended September 30, Change
2009 2008 $ % 2009 2008 $ %
Wireline
Revenue
Voice - local service $ 83.0 $ 96.0 $ (13.0 ) (14%) $ 260.8 $ 295.9 $ (35.1 ) (12%)
Data 70.4 68.8 1.6 2% 211.0 204.3 6.7 3%
Long distance and VoIP 24.0 24.8 (0.8 ) (3%) 72.0 73.7 (1.7 ) (2%)
Other 13.5 11.0 2.5 23% 36.4 31.8 4.6 14%
Total revenue 190.9 200.6 (9.7 ) (5%) 580.2 605.7 (25.5 ) (4%)
Operating costs and expenses
Cost of services and products 62.8 67.5 (4.7 ) (7%) 188.8 201.4 (12.6 ) (6%)
Selling, general and administrative 35.1 40.2 (5.1 ) (13%) 111.5 118.7 (7.2 ) (6%)
Depreciation and amortization 26.5 25.7 0.8 3% 77.7 75.9 1.8 2%
Restructuring charges (gains) 1.0 1.6 (0.6 ) (38%) (5.5 ) 26.0 (31.5 ) n/m
Asset impairment - - - n/m - 1.2 (1.2 ) n/m
Total operating costs and expenses 125.4 135.0 (9.6 ) (7%) 372.5 423.2 (50.7 ) (12%)
Operating income $ 65.5 $ 65.6 $ (0.1 ) 0% $ 207.7 $ 182.5 $ 25.2 14%
Wireless
Revenue
Service $ 71.6 $ 74.2 $ (2.6 ) (4%) $ 214.1 $ 218.5 $ (4.4 ) (2%)
Equipment 6.1 6.6 (0.5 ) (8%) 16.4 19.1 (2.7 ) (14%)
Total revenue 77.7 80.8 (3.1 ) (4%) 230.5 237.6 (7.1 ) (3%)
Operating costs and expenses
Cost of services and products 42.0 41.7 0.3 1% 121.9 122.3 (0.4 ) 0%
Selling, general and administrative 16.8 18.6 (1.8 ) (10%) 50.8 52.2 (1.4 ) (3%)
Depreciation and amortization 9.7 8.7 1.0 11% 29.3 26.3 3.0 11%
Restructuring charges - 0.1 (0.1 ) n/m - 0.5 (0.5 ) n/m
Loss on sale of asset 4.8 - 4.8 n/m 4.8 - 4.8 n/m
Total operating costs and expenses 73.3 69.1 4.2 6% 206.8 201.3 5.5 3%
Operating income $ 4.4 $ 11.7 $ (7.3 ) (62%) $ 23.7 $ 36.3 $ (12.6 ) (35%)
Technology Solutions
Revenue
Telecom and IT equipment distribution $ 45.2 $ 43.1 $ 2.1 5% $ 109.4 $ 142.9 $ (33.5 ) (23%)
Data center and managed services 28.1 25.6 2.5 10% 83.4 72.2 11.2 16%
Professional services 5.1 4.6 0.5 11% 15.1 11.4 3.7 32%
Total revenue 78.4 73.3 5.1 7% 207.9 226.5 (18.6 ) (8%)
Operating costs and expenses
Cost of services and products 56.7 53.4 3.3 6% 146.1 171.7 (25.6 ) (15%)
Selling, general and administrative 10.0 9.8 0.2 2% 32.6 29.7 2.9 10%
Depreciation and amortization 5.0 4.3 0.7 16% 14.8 11.4 3.4 30%
Restructuring charges - - - n/m - 0.4 (0.4 ) n/m
Total operating costs and expenses 71.7 67.5 4.2 6% 193.5 213.2 (19.7 ) (9%)
Operating income $ 6.7 $ 5.8 $ 0.9 16% $ 14.4 $ 13.3 $ 1.1 8%
Cincinnati Bell Inc.
Segment Information
(Unaudited)
(Dollars in millions)
Three Months Nine Months
Ended September 30, Change Ended September 30, Change
2009 2008 $ % 2009 2008 $ %
Revenue
Wireline $ 190.9 $ 200.6 $ (9.7 ) (5%) $ 580.2 $ 605.7 $ (25.5 ) (4%)
Wireless 77.7 80.8 (3.1 ) (4%) 230.5 237.6 (7.1 ) (3%)
Technology Solutions 78.4 73.3 5.1 7% 207.9 226.5 (18.6 ) (8%)
Eliminations (9.3 ) (8.2 ) (1.1 ) 13% (27.8 ) (23.6 ) (4.2 ) 18%
Total revenue $ 337.7 $ 346.5 $ (8.8 ) (3%) $ 990.8 $ 1,046.2 $ (55.4 ) (5%)
Cost of Services and Products
Wireline $ 62.8 $ 67.5 $ (4.7 ) (7%) $ 188.8 $ 201.4 $ (12.6 ) (6%)
Wireless 42.0 41.7 0.3 1% 121.9 122.3 (0.4 ) 0%
Technology Solutions 56.7 53.4 3.3 6% 146.1 171.7 (25.6 ) (15%)
Eliminations (8.6 ) (7.8 ) (0.8 ) 10% (25.8 ) (21.8 ) (4.0 ) 18%
Total cost of services and products $ 152.9 $ 154.8 $ (1.9 ) (1%) $ 431.0 $ 473.6 $ (42.6 ) (9%)
Selling, General and Administrative
Wireline $ 35.1 $ 40.2 $ (5.1 ) (13%) $ 111.5 $ 118.7 $ (7.2 ) (6%)
Wireless 16.8 18.6 (1.8 ) (10%) 50.8 52.2 (1.4 ) (3%)
Technology Solutions 10.0 9.8 0.2 2% 32.6 29.7 2.9 10%
Corporate and eliminations 2.8 2.9 (0.1 ) (3%) 14.5 13.2 1.3 10%
Total selling, general $ 64.7 $ 71.5 $ (6.8 ) (10%) $ 209.4 $ 213.8 $ (4.4 ) (2%)
and administrative
Depreciation and Amortization
Wireline $ 26.5 $ 25.7 $ 0.8 3% $ 77.7 $ 75.9 $ 1.8 2%
Wireless 9.7 8.7 1.0 11% 29.3 26.3 3.0 11%
Technology Solutions 5.0 4.3 0.7 16% 14.8 11.4 3.4 30%
Corporate - - - n/m 0.2 0.1 0.1 100%
Total depreciation and amortization $ 41.2 $ 38.7 $ 2.5 6% $ 122.0 $ 113.7 $ 8.3 7%
Restructuring, Loss on Sale of Asset and Asset Impairment
Wireline $ 1.0 $ 1.6 $ (0.6 ) n/m $ (5.5 ) $ 27.2 $ (32.7 ) n/m
Wireless 4.8 0.1 4.7 n/m 4.8 0.5 4.3 n/m
Technology Solutions - - - n/m - 0.4 (0.4 ) n/m
Corporate (0.1 ) - (0.1 ) n/m - 0.2 (0.2 ) n/m
Total restructuring, $ 5.7 $ 1.7 $ 4.0 n/m $ (0.7 ) $ 28.3 $ (29.0 ) n/m
loss on sale of asset
and asset
impairment
Operating Income
Wireline $ 65.5 $ 65.6 $ (0.1 ) 0% $ 207.7 $ 182.5 $ 25.2 14%
Wireless 4.4 11.7 (7.3 ) (62%) 23.7 36.3 (12.6 ) (35%)
Technology Solutions 6.7 5.8 0.9 16% 14.4 13.3 1.1 8%
Corporate (3.4 ) (3.3 ) (0.1 ) 3% (16.7 ) (15.3 ) (1.4 ) 9%
Total operating income $ 73.2 $ 79.8 $ (6.6 ) (8%) $ 229.1 $ 216.8 $ 12.3 6%
Cincinnati Bell Inc.
Segment Metric Information
(Unaudited)
September 30, December 31,
2009 2008
(in thousands)
Local access lines 737.8 779.7
DSL subscribers 234.5 233.2
Postpaid wireless subscribers 383.5 403.7
Prepaid wireless subscribers 152.8 146.9
Total wireless subscribers 536.3 550.6
Consumer long distance lines 338.5 352.7
Business long distance lines 177.4 178.9
Total long distance lines 515.9 531.6
Data Center and Managed Services
Raised floor (in square feet) 271,000 209,000
Utilization rate 80% 88%
Cincinnati Bell Inc.
Local Access Line Detail
(Unaudited)
(In thousands)
2007 2008 2009
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
Local Access Lines
In-Territory:
Primary Residential 499.1 484.8 468.4 454.2 441.2 427.6 414.5 403.6 392.2 382.8 371.6
Secondary Residential 36.2 34.9 33.4 32.0 30.7 29.5 28.4 27.2 25.8 24.8 23.6
Business/ Other 287.6 287.7 286.9 285.8 284.3 283.4 280.2 277.7 274.3 271.5 268.9
Total In-Territory 822.9 807.4 788.7 772.0 756.2 740.5 723.1 708.5 692.3 679.1 664.1
Out-of-Territory:
Primary Residential 29.4 30.7 32.0 32.7 32.8 32.7 33.7 34.9 35.4 34.8 34.3
Secondary Residential 1.2 1.3 1.3 1.3 1.4 1.3 1.3 1.3 1.3 1.2 1.2
Business/ Other 22.4 24.2 26.7 28.3 30.2 31.2 33.3 35.0 36.3 37.4 38.2
Total Out-of-Territory 53.0 56.2 60.0 62.3 64.4 65.2 68.3 71.2 73.0 73.4 73.7
Total Access Lines 875.9 863.6 848.7 834.3 820.6 805.7 791.4 779.7 765.3 752.5 737.8
Cincinnati Bell Inc.
Net Debt Calculation
(Unaudited)
(Dollars in millions)
September 30, December 31, Change
2009 2008 $ %
Credit facility, revolver $ 85.7 $ 73.0 $ 12.7 17%
Credit facility, tranche B term loan 205.4 207.0 (1.6 ) (1%)
7 1/4% Senior Notes due 2013 439.9 439.9 - 0%
8 3/8% Senior Subordinated Notes due 2014 570.4 572.7 (2.3 ) 0%
7% Senior Notes due 2015 252.5 257.2 (4.7 ) (2%)
7 1/4% Senior Notes due 2023 40.0 50.0 (10.0 ) (20%)
Accounts receivable securitization facility 85.9 75.0 10.9 15%
Various Cincinnati Bell Telephone notes 207.5 230.0 (22.5 ) (10%)
Capital leases and other debt 56.7 55.6 1.1 2%
Net unamortized premium 0.3 0.3 - 0%
Total debt 1,944.3 1,960.7 (16.4 ) (1%)
Less: Interest rate swap asset and adjustment (15.4 ) (22.4 ) 7.0 (31%)
Less: Cash and cash equivalents (37.5 ) (6.7 ) (30.8 ) n/m
Net debt (as defined by the company) $ 1,891.4 $ 1,931.6 $ (40.2 ) (2%)
Credit facility availability $ 98.2 $ 151.4 $ (53.2 ) (35%)
Cincinnati Bell Inc.
Consolidated Statements of Cash Flows
(Unaudited)
(Dollars in millions)
Three Months Nine Months
Ended September 30, Ended September 30,
2009 2008 2009 2008
Cash provided by operating activities $ 79.8 $ 78.4 $ 250.3 $ 266.3
Capital expenditures (47.5 ) (55.5 ) (141.7 ) (158.7 )
Acquisitions of businesses - - (3.4 ) (21.6 )
Proceeds from sales of wireless spectrum 5.6 - 5.8 -
Other, net - - 0.8 1.0
Cash used in investing activities (41.9 ) (55.5 ) (138.5 ) (179.3 )
Change in corporate credit and receivables facilities, net 52.0 (3.0 ) 23.6 28.0
Repayment of debt (27.4 ) (12.8 ) (32.4 ) (57.4 )
Debt issuance costs - - (4.4 ) -
Preferred stock dividends (2.6 ) - (7.8 ) (7.8 )
Common stock repurchase (25.0 ) (20.5 ) (59.4 ) (67.5 )
Other, net - - (0.6 ) (0.4 )
Cash used in financing activities (3.0 ) (36.3 ) (81.0 ) (105.1 )
Net increase (decrease) in cash and cash equivalents 34.9 (13.4 ) 30.8 (18.1 )
Cash and cash equivalents at beginning of period 2.6 21.4 6.7 26.1
Cash and cash equivalents at end of period $ 37.5 $ 8.0 $ 37.5 $ 8.0
Reconciliation of GAAP Cash Flow to
Free Cash Flow (as defined by the company)
Net increase (decrease) in cash and cash equivalents $ 34.9 $ (13.4 ) $ 30.8 $ (18.1 )
Less adjustments:
Issuance of long-term debt and change in corporate credit and (52.0 ) 3.0 (23.6 ) (28.0 )
receivables facilities, net
Repayment of debt 27.4 12.8 32.4 57.4
Debt issuance costs - - 4.4 -
Common stock repurchase 25.0 20.5 59.4 67.5
Acquisitions of businesses - - 3.4 21.6
Free cash flow (as defined by the company) $ 35.3 $ 22.9 $ 106.8 $ 100.4
Income tax payments $ 0.2 $ - $ 5.3 $ 1.9
Cincinnati Bell Inc.
Free Cash Flow (as defined by the company)
(Unaudited)
(Dollars in millions)
Free Cash Flow for the three months ended September 30, 2008 $ 22.9
Decrease in Adjusted EBITDA (0.1 )
Decrease in capital expenditures 8.0
Proceeds received from terminated swaps in 2009 2.7
Decrease in interest payments 7.3
Proceeds from sale of wireless spectrum 5.6
Change in working capital and other (11.1 )
Free Cash Flow for the three months ended September 30, 2009 $ 35.3
Free Cash Flow for the nine months ended September 30, 2008 $ 100.4
Decrease in Adjusted EBITDA (8.4 )
Data center customer prepayment received in 2008 (21.5 )
Decrease in capital expenditures 17.0
Proceeds received from terminated swaps in 2009 13.2
Decrease in interest payments 15.0
Proceeds from sales of wireless spectrum 5.8
Change in working capital and other (14.7 )
Free Cash Flow for the nine months ended September 30, 2009 $ 106.8
Cincinnati Bell Inc.
Capital Expenditures
(Unaudited)
(Dollars in millions)
Three Months Ended
Sep 30, 2009 Jun 30, 2009 Mar 31, 2009 Dec 31, 2008 Sep 30, 2008
Wireline $ 35.4 $ 37.3 $ 29.2 $ 33.2 $ 22.5
Wireless 8.1 4.2 5.6 16.6 9.7
Technology Solutions 3.9 6.9 10.7 22.1 23.1
Corporate 0.1 0.1 0.2 0.3 0.2
Total capital expenditures $ 47.5 $ 48.5 $ 45.7 $ 72.2 $ 55.5
Cincinnati Bell Inc.
Reconciliation of Adjusted EBITDA (Non-GAAP) to Operating Income
(GAAP)
(Unaudited)
(Dollars in millions)
Three Months Ended September 30, 2009
Wireline Wireless Technology Corporate Total
Solutions Company
Operating Income (GAAP) $ 65.5 $ 4.4 $ 6.7 $ (3.4 ) $ 73.2
Add:
Depreciation and amortization 26.5 9.7 5.0 - 41.2
Restructuring charges (gains) and loss on sale of asset 1.0 4.8 - (0.1 ) 5.7
Adjusted EBITDA (Non-GAAP) $ 93.0 $ 18.9 $ 11.7 $ (3.5 ) $ 120.1
Three Months Ended September 30, 2008
Wireline Wireless Technology Corporate Total
Solutions Company
Operating Income (GAAP) $ 65.6 $ 11.7 $ 5.8 $ (3.3 ) $ 79.8
Add:
Depreciation and amortization 25.7 8.7 4.3 - 38.7
Restructuring charges 1.6 0.1 - - 1.7
Adjusted EBITDA (Non-GAAP) $ 92.9 $ 20.5 $ 10.1 $ (3.3 ) $ 120.2
Year-over-year dollar change in Adjusted EBITDA $ 0.1 ($1.6 ) $ 1.6 ($0.2 ) ($0.1 )
Year-over-year percentage change in Adjusted EBITDA 0 % (8 %) 16 % 6 % 0 %
Nine Months Ended September 30, 2009
Wireline Wireless Technology Corporate Total
Solutions Company
Operating Income (GAAP) $ 207.7 $ 23.7 $ 14.4 $ (16.7 ) $ 229.1
Add:
Depreciation and amortization 77.7 29.3 14.8 0.2 122.0
Restructuring charges (gains) and loss on sale of asset (5.5 ) 4.8 - - (0.7 )
Adjusted EBITDA (Non-GAAP) $ 279.9 $ 57.8 $ 29.2 $ (16.5 ) $ 350.4
Nine Months Ended September 30, 2008
Wireline Wireless Technology Corporate Total
Solutions Company
Operating Income (GAAP) $ 182.5 $ 36.3 $ 13.3 $ (15.3 ) $ 216.8
Add:
Depreciation and amortization 75.9 26.3 11.4 0.1 113.7
Restructuring and asset impairment charges 27.2 0.5 0.4 0.2 28.3
Adjusted EBITDA (Non-GAAP) $ 285.6 $ 63.1 $ 25.1 $ (15.0 ) $ 358.8
Year-over-year dollar change in Adjusted EBITDA ($5.7 ) ($5.3 ) $ 4.1 ($1.5 ) ($8.4 )
Year-over-year percentage change in Adjusted EBITDA (2 %) (8 %) 16 % 10 % (2 %)
Cincinnati Bell Inc.
Reconciliation of Adjusted EBITDA (Non-GAAP) Excluding Stock
Compensation Expense to Operating Income (GAAP)
(Unaudited)
(Dollars in millions)
Three Months
Ended September 30, Change
2009 2008 $ %
Operating Income (GAAP) $ 73.2 $ 79.8 $ (6.6 ) (8%)
Add:
Depreciation and amortization 41.2 38.7 2.5 6%
Restructuring charges and loss on sale of asset 5.7 1.7 4.0 n/m
Adjusted EBITDA (Non-GAAP) 120.1 120.2 (0.1 ) 0%
Add:
Stock compensation expense 1.6 1.4 0.2 14%
Adjusted EBITDA excluding stock compensation expense (Non-GAAP) $ 121.7 $ 121.6 $ 0.1 0%
Nine Months
Ended September 30, Change
2009 2008 $ %
Operating Income (GAAP) $ 229.1 $ 216.8 $ 12.3 6%
Add:
Depreciation and amortization 122.0 113.7 8.3 7%
Restructuring charges (gains), loss on sale of asset and asset (0.7 ) 28.3 (29.0 ) n/m
impairment
Adjusted EBITDA (Non-GAAP) 350.4 358.8 (8.4 ) (2%)
Add:
Stock compensation expense 6.3 5.1 1.2 24%
Adjusted EBITDA excluding stock compensation expense (Non-GAAP) $ 356.7 $ 363.9 $ (7.2 ) (2%)
Cincinnati Bell Inc.
Normalized Statements of Operations (Non-GAAP) - Reconciliation
to Reported Results
(Unaudited)
(Dollars in millions, except per share amounts)
Special Items
Three Restructuring Loss on Gain on Three
Months Charges Sale of Asset Debt Months
Ended Extinguishment Ended
September 30, September 30,
2009 2009
(GAAP) Before
Special
Items
(Non-GAAP)
A B C
Revenue $ 337.7 $ - $ - $ - $ 337.7
Costs and expenses
Cost of services and products 152.9 - - - 152.9
Selling, general and administrative 64.7 - - - 64.7
Depreciation and amortization 41.2 - - - 41.2
Restructuring charges 0.9 (0.9 ) - - -
Loss on sale of asset 4.8 - (4.8 ) - -
Operating income 73.2 0.9 4.8 - 78.9
Interest expense 31.5 - - - 31.5
Other income, net (7.7 ) - - 7.6 (0.1 )
Income before income taxes 49.4 0.9 4.8 (7.6 ) 47.5
Income tax expense 21.7 0.4 1.9 (3.0 ) 21.0
Net income 27.7 0.5 2.9 (4.6 ) 26.5
Preferred stock dividends 2.6 - - - 2.6
Net income applicable to common shareowners $ 25.1 $ 0.5 $ 2.9 $ (4.6 ) $ 23.9
Weighted average diluted common shares 213.2 213.2 213.2 213.2 213.2
Diluted earnings per common share $ 0.12 $ 0.00 $ 0.01 $ (0.02 ) $ 0.11
Normalized results have been adjusted for the following (pretax
adjustments are tax effected at 40%):
A Charge related to voluntary early retirement program for union and
management employees.
B Loss on the sale of wireless spectrum for the Indianapolis, Indiana
region.
C Gain on extinguishment of a portion of the 7 1/4% Senior Notes due
2023 and Cincinnati Bell Telephone notes.
Cincinnati Bell Inc.
Normalized Statements of Operations (Non-GAAP) - Reconciliation
to Reported Results
(Unaudited)
(Dollars in millions, except per share amounts)
Special Items
Three Restructuring Gain on Three
Months Charges Debt Months
Ended Extinguishment Ended
September 30, September 30,
2008 2008
(GAAP) Before
Special
Items
(Non-GAAP)
A B
Revenue $ 346.5 $ - $ - $ 346.5
Costs and expenses
Cost of services and products 154.8 - - 154.8
Selling, general and administrative 71.5 - - 71.5
Depreciation and amortization 38.7 - - 38.7
Restructuring charges 1.7 (1.7 ) - -
Operating income 79.8 1.7 - 81.5
Interest expense 35.0 - - 35.0
Other income, net (1.0 ) - 0.9 (0.1 )
Income before income taxes 45.8 1.7 (0.9 ) 46.6
Income tax expense 19.2 0.7 (0.4 ) 19.5
Net income 26.6 1.0 (0.5 ) 27.1
Preferred stock dividends 2.6 - - 2.6
Net income applicable to common shareowners $ 24.0 $ 1.0 $ (0.5 ) $ 24.5
Weighted average diluted common shares 239.2 239.2 239.2 239.2
Diluted earnings per common share $ 0.10 $ 0.00 $ 0.00 $ 0.10
Normalized results have been adjusted for the following (pretax
adjustments are tax effected at 40%):
A Charge related to voluntary early retirement program for union and
management employees.
B Gain on extinguishment of a portion of the 8 3/8% Senior
Subordinated Notes due 2014 and 7 1/4% Senior Notes due 2013.
Cincinnati Bell Inc.
Normalized Statements of Operations (Non-GAAP) - Reconciliation
to Reported Results
(Unaudited)
(Dollars in millions, except per share amounts)
Special Items
Nine Restructuring Loss on Gain on Nine
Months Gains Sale of Debt Months
Ended Asset Extinguishment Ended
September 30, September 30,
2009 2009
(GAAP) Before
Special
Items
(Non-GAAP)
A B C
Revenue $ 990.8 $ - $ - $ - $ 990.8
Costs and expenses
Cost of services and products 431.0 - - - 431.0
Selling, general and administrative 209.4 - - - 209.4
Depreciation and amortization 122.0 - - - 122.0
Restructuring gains (5.5 ) 5.5 - - -
Loss on sale of asset 4.8 - (4.8 ) - -
Operating income 229.1 (5.5 ) 4.8 - 228.4
Interest expense 94.6 - - - 94.6
Other income, net (7.4 ) - - 7.4 -
Income before income taxes 141.9 (5.5 ) 4.8 (7.4 ) 133.8
Income tax expense 59.1 (2.2 ) 1.9 (3.0 ) 55.8
Net income 82.8 (3.3 ) 2.9 (4.4 ) 78.0
Preferred stock dividends 7.8 - - - 7.8
Net income applicable to common shareowners $ 75.0 $ (3.3 ) $ 2.9 $ (4.4 ) $ 70.2
Weighted average diluted common shares 218.1 218.1 218.1 218.1 218.1
Diluted earnings per common share $ 0.34 $ (0.01 ) $ 0.01 $ (0.02 ) $ 0.32
Normalized results have been adjusted for the following (pretax
adjustments are tax effected at 40%):
A Curtailment gains primarily related to changes in the pension and
postretirement plans announced in February 2009, and charges
related to voluntary early retirement program for union and
management employees.
B Loss on the sale of wireless spectrum for the Indianapolis, Indiana
region.
C Gain on extinguishment of a portion of the 7 1/4% Senior Notes due
2023 and Cincinnati Bell Telephone notes.
Cincinnati Bell Inc.
Normalized Statements of Operations (Non-GAAP) - Reconciliation
to Reported Results
(Unaudited)
(Dollars in millions, except per share amounts)
Special Items
Nine Restructuring Asset Gain on Nine
Months Charges Impairment Debt Months
Ended Extinguishment Ended
September 30, September 30,
2008 2008
(GAAP) Before
Special
Items
(Non-GAAP)
A B C
Revenue $ 1,046.2 $ - $ - $ - $ 1,046.2
Costs and expenses
Cost of services and products 473.6 - - - 473.6
Selling, general and administrative 213.8 - - - 213.8
Depreciation and amortization 113.7 - - - 113.7
Restructuring charges 27.1 (27.1 ) - - -
Asset impairment 1.2 - (1.2 ) - -
Operating income 216.8 27.1 1.2 - 245.1
Interest expense 106.1 - - - 106.1
Other income, net (2.4 ) - - 2.2 (0.2 )
Income before income taxes 113.1 27.1 1.2 (2.2 ) 139.2
Income tax expense 48.0 10.8 0.5 (0.9 ) 58.4
Net income 65.1 16.3 0.7 (1.3 ) 80.8
Preferred stock dividends 7.8 - - - 7.8
Net income applicable to common shareowners $ 57.3 $ 16.3 $ 0.7 $ (1.3 ) 73.0
Weighted average diluted common shares 247.0 247.0 247.0 247.0 247.0
Diluted earnings per common share $ 0.23 $ 0.07 $ 0.00 $ 0.00 $ 0.30
Normalized results have been adjusted for the following (pretax
adjustments are tax effected at 40%):
A Charge related to voluntary early retirement program for union and
management employees.
B Asset impairment charge for discontinued software.
C Gain on extinguishment of a portion of the 8 3/8% Senior
Subordinated Notes due 2014 and 7 1/4% Senior Notes due 2013.
Cincinnati Bell Inc.
Reconciliation of Adjusted EBITDA (Non-GAAP) Guidance to
Operating
Income (GAAP) Guidance
(Unaudited)
(Dollars in millions)
2009 Operating Income (GAAP) Guidance $ 320
Add:
Depreciation and amortization 160
Restructuring gains (5 )
Loss on sale of asset 5
2009 Adjusted EBITDA Guidance $ 480 *
* Plus or minus 2 percent.
SOURCE: Cincinnati Bell Inc.
Cincinnati Bell Inc. Investor / Media contact Kurt Freyberger, 513-397-1055 kurt.freyberger@cinbell.com
Tags: acquisition billing business canada ceo conference consumer corporate debt dollar dsl earnings ebitda economy environment expansion gaap health healthcare indiana information technology internet joint venture labor local market note nyse partnership president products profit rates refinancing residential restructuring revenue sales sec-8k securities securitization software tax taxes technology telecom telecommunications unions wireless wireline
Companies: Cincinnati Bell, Inc. (CBB)
BMTS Announces the Introduction of the Demolizer II System Into the Geisinger Health System -
ENGLEWOOD, CO, Nov 04, 2009 (MARKETWIRE via COMTEX) --
Biomedical Technology Solutions Holdings, Inc. ("BMTS" or the "Company"; www.bmtscorp.com) (OTCBB: BMTL) is pleased to announce the introduction of the Demolizer(R) II System into the Geisinger Health organization for the onsite treatment of biomedical waste.
The Geisinger Health System is one of the nation's leading fully integrated health services organizations. Founded in 1915, Geisinger is a physician-led health care system, dedicated to health care, education, research and service spanning 43 counties in Pennsylvania and serving over 2.6 million people in primarily rural communities.
The Demolizer(R) II is a safe and simple biomedical waste treatment system ideally suited to meet the unique needs of clinics in rural areas where the cost, both financial and environmental, of traditional transport and offsite disposal can be prohibitive. Cost savings from adoption of the Demolizer(R) II are expected to be significant. More importantly, the Demolizer(R) II is an environmentally responsible alternative treatment system approved by the Commonwealth of Pennsylvania that eliminates the need for onsite storage between pickups and substantially lowers the environmental impact associated with proper treatment and disposal of biomedical waste.
Geisinger Health has been repeatedly lauded for its best practices -- finding innovative solutions to provide high quality healthcare at costs well below average. Their success in these areas has been featured by President Obama in his address to the AMA, Time Magazine, U.S. News and World Report, CNN, the Philadelphia Inquirer and others.
Don Cox, President and CEO of BMTS, explains, "With Geisinger Health's longstanding reputation for value and quality, the decision to introduce the Demolizer II is a major milestone for our organization. This is another validation that our Demolizer(R) II System can deliver real cost savings and environmental benefits for the over one million biomedical waste generators in the U.S."
About Biomedical Technology Solutions Holdings, Inc.
Biomedical Technology Solutions Holdings, Inc., located in Englewood, Colorado sells the Demolizer(R) II through its wholly owned subsidiary Biomedical Technology Solutions, Inc. BMTS' patented Demolizer(R) Technology converts infectious biomedical waste into non-infectious material. BMTS' products provide biomedical waste treatment solutions for the over 1,000,000 low to medium volume medical waste generators in the US and a global market five times larger than the US. For more information, visit our investor relations page at www.bmtscorp.com.
About the Demolizer(R) II
The Demolizer(R) II is the GREEN alternative to biomedical waste disposal. The device is the only patented, portable, and self-contained system able to process both sharps and typical red bag biomedical waste onsite. The processed waste is rendered sterile and discarded as common trash eliminating up to 100% of the cost associated with its disposal. The Demolizer(R) II meets or exceeds all EPA and CDC guidelines and is approved or meets treatment requirements in 47 states after review by 78 governmental agencies. The device uses no chemicals or liquids, plugs into a normal outlet through a surge protector, and automatically records and prints state required documentation. The Demolizer(R) II provides a safer, more environmentally GREEN method for biomedical waste disposal.
Safe Harbor for Forward-Looking Statements
The statements contained in this press release may include certain projections and 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. Such statements involve a number of risks and uncertainties. Such statements reflect the Company's current views with respect to future events and financial performance. No assurances can be given however, that these events will occur or that such expectations will be achieved and that actual results could differ materially from those described. Actual results of future operations of Biomedical Technology Solutions Holdings, Inc. may differ materially from those indicated by these forward-looking statements as a result of various important factors.
Contact: David Kempf COO/CFO 303 653-0100
SOURCE: Biomedical Technology Solutions Holdings
Tags: adoption biomedical ceo chemicals colorado education health healthcare magazine market medical pennsylvania president products research technology
Companies: BioMedical Technology Solutions Holdings Inc (BMTL)
Web Sites
Total : 2,323 View more »
http://www.lesswatts.org
www.lesswatts.org
http://www.lesswatts.org Open Source Technology Center, Intel Corporation Introduction Saving power is a hot topic all over the Internet. For some it's longer battery life, for ...
http://www.lesswatts.org/documentation/LessWatts.org-whitepaper.pdf
Sydney Technology Solutions - Home
We at Sydney Technology Solutions (STS) offer you a team of business dedicated, experienced computer network and IT engineers, who will help solve your problems in a professional and timely manner.
Infosecurity Europe - Press Releases
www.infosec.co.uk
Europe's most comprehensive gathering of information security professionals. With an unrivalled free education programme and showcasing the most diverse range of new and innovative IT Security products and services.
http://www.infosec.co.uk/page.cfm/T=m/Action=Press/PressID=1045
White paper: Microsoft Exchange Solution Reviewed Progamm
sp.ts.fujitsu.com
Fujitsu ETERNUS DX80 Storage System 4000 Mailboxes Clustered Continuous Replication Exchange 2007 Storage Solution White paper: Microsoft Exchange Solution Reviewed Progamm
https://sp.ts.fujitsu.com/dmsp/docs/wp-ms-espr-eternus-dx80.pdf
Web Sites
powered by 
Total : 236,000,000 View more »
EDGAR ONLINE - TECHNOLOGY SOLUTIONS COMPANY - SEC FILINGS
www.edgar-online.com
technology solutions company: tscc (pink sheets)
Technology Solutions Company
company.monster.com
Job Description Intro. Delivering business benefits through the application of information technology, Technology Solutions Company (TSC) is a consulting and systems integration ...
Technology Solutions Company - Company Profile on LinkedIn
www.linkedin.com
This is the limited version of the Technology Solutions Company company profile: Join LinkedIn or Sign In to see more information. Technology Solutions Company provides business ...
http://www.linkedin.com/companies/technology-solutions-company
Invalid Ticker Symbol - Yahoo! Finance
finance.yahoo.com
See the company profile for ** SEE<TSCC.PK> (TSCC) including business summary, industry/sector information, number of employees, business summary, corporate governance, key ...
News from Zibb.com
- Stockguru.com: Biomedical Technology Solutions Holdings Inc. is in the StockGuru Spotlight for
- Avnet Technology Solutions: Avnet and Kodak Service Agreement Enhances Customer Service and Choice
- Cincinnati Bell Inc. Reports Third Quarter 2009 Results - Zibb.com
- BMTS Announces the Introduction of the Demolizer II System Into the Geisinger Health System -
Explore Related Topics
Explore Related Products
Jobs
Forensic Technology Solutions ("FTS") - Senior Associate - JobSearch
Forensic Technology Solutions - Senior Associate PricewaterhouseCoopers is looking Senior Assoicates to join the Forensic Technology Solutions ("FTS") team. The FTS group is part of CFR Forensic Services and specilises in the forensic capture and analysis of electronic data.
.NET Winforms Developer at Cincinnati Bell Technology Solutions in Cincinnati, OH | Jobster
.NET, Winforms Cincinnati Bell Technology Solutions is currently seeking a .NET Winforms Developer for a position located downtown. This position will develop .NET applications on a Windows platform. Qualifications include: * 2 to 3 years of experien...
Company:(Cincinnati Bell) Jobs | Jobster
.NET Framework, C#, ASP.NET, CSS Cincinnati Bell Technology Solutions is currently seeking a .NET Web Developer/Designer for a position in Cincinnati, OH The..
Events
pl_app_111708
www.xilinx.com
Join Xilinx and partners for a FREE technical seminar on high-performance system design at a location near you. Meet with our experts and see live demonstrations of Xilinx FPGAs in action.
EC -
Previously Mr Murphy spent 18 years at General Electric, where he provided financial leadership for several major divisions including Land Combat Systems, Group Sourcing, and Military Engines Operations for GE Aircraft Engines.
TSAM 2009: Technology Solutions for Asset Management
www.bobsguide.com
TSAM North America, taking place on the 15th September 2009 at the Hyatt Regency Jersey City, will provide fabulous, global knowledge exchange for investment management practitioners who hold strategic responsibility for their company’s technology and operations.
http://www.bobsguide.com/cgi-bin/guide/event.pl?ID=bg&ev_key=1056