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  • A123 Systems (AONE) Expands Partnership With SAIC Motor To Address Lithium Ion Battery Technology Demand In China

    Today, A123 Systems, Inc. announced a planned expansion of its partnership with SAIC Motor Corporation Limited, which is China's largest automaker. This will build on the existing partnership that was established between the two companies back in 2009, when Advanced Traction battery Systems (ATBS), a battery pack joint venture company, was formed.

    Under a new framework agreement, A123 and SAIC Motor will carry out a feasibility study defining the business plan and investment requirement for a jointly developed battery manufacturing facility in China. It is anticipated that the proposed facility will serve the local market with an initial focus on transportation; this will enable A123 to meet the increasing demand for advanced lithium ion battery technology more quickly and cost-effectively. The agreements setting forth the terms and conditions for the proposed facility and its operations, currently in negotiations, are expected to be completed by September 2012.

    Since the formation of ATBS, A123 has been a strong partner for SAIC Motor, supplying lithium ion battery systems for three of SAIC's electric vehicles. SAIC sees potential for A123's technology across several different Chinese markets, and the company anticipates that the expanded partnership will provide SAIC with increased opportunity to benefit from the rising demand for advanced lithium ion phosphate solutions.

    SAIC Motor leads the Chinese auto market. The company's total vehicle production exceeded 4 million vehicles in 2011.

    A123 Systems, Inc. is a leader in developing and manufacturing advanced lithium ion batteries and energy storage systems for transportation, electric grid and commercial applications. The company's Nanophosphate lithium iron phosphate technology, built on novel nanoscale materials initially developed at the Massachusetts Institute of Technology, is designed to deliver high power and energy density, improved safety and extended life. Leveraging cutting-edge technology, quality manufacturing and expert systems integration capabilities, A123 delivers innovative solutions that enable customers to create and market next-generation products. For further information, visit a123systems.com.

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Tags: AONEQ
    Mar 02 5:51 PM | Link | Comment!
  • EDGAR (EDGR) Posts Q4, Full-year Financial Results

    Financial results reflect significant growth in full-year 2011, posts record revenues

    EDGAR® Online Inc., a premier provider of fundamental financial data, analytics and disclosure management services, today announced its unaudited financial results for the fourth quarter and full-year ended December 31, 2011.

    Total revenues were $7.6 million for the fourth quarter ended December 31, 2011, compared to $4.9 million for the comparable quarter of 2010; fourth-quarter adjusted EBITDA was $0.8 million compared to a net loss of $(1.3 million) for the quarter ended December 31, 2010. For full-year 2011, EDGAR reported total revenues of $27.8 million compared to $19.5 million for 2010; adjusted EBITDA was ($3.6 million) for the year ended December 31, 2011, compared to ($1.9 million) for full-year 2010.

    EDGAR reported an operating loss was of ($0.6 million) for the fourth quarter of 2011 compared to a loss of ($3.1 million) for the same quarter last year. Full-year 2011 operating loss was ($9.6 million) as compared to a loss of ($6.9 million) for the year ended December 31, 2010.

    The company reported deferred revenue of $4.0 million at December 31, 2011, compared to $4.5 million reported at December 31, 2010.

    As of December 31, 2011, EDGAR had cash, cash equivalents and short-term investments totaling $5.6 million compared to $11 million at December 31, 2010. At December 31, 2011, the company had term loan outstanding of $1.7 million and a $3.0 million revolving credit facility.

    The company's full-year performance reflects its implementation and execution of initiatives designed to promote growth.

    "I am pleased to report that EDGAR Online experienced tremendous growth in 2011," Robert J. Farrell, EDGAR's president and CEO stated in the press release. "In addition to generating record revenues for the year, we implemented the infrastructure and added the human talent necessary to support future growth and product evolution. The value propositions embodied in our data & analytics products, disclosure management solutions, and software businesses position EDGAR Online to expand and gain market share. In 2012 we will leverage our industry recognized expertise in XBRL and disclosure management to deliver innovative solutions to professionals who both produce and consume financial information, with a particular focus on the areas of governance, risk and compliance."

    EDGAR anticipates annual revenue growth of more than 35 percent in 2012 as compared to 2011 revenue.

    For more information visit www.edgar-online.com

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Tags: EDGR
    Mar 02 1:44 PM | Link | Comment!
  • EGain Communications Corp. (EGAN) Award-Winning Knowledge Management Solution Selected By Union Bank, N.A.

    Today, eGain Communications announced that Union Bank, N.A. has selected eGain's platform to implement its enterprise-wide customer-facing knowledge strategy. Union Bank, a full-service commercial bank, provides its customers with an assortment of financial services tailored for individuals, small businesses, middle-market companies, and major corporations, including banking, asset management, brokerage, loans, investments, and insurance. Union Bank is a member of the Mitsubishi UFJ Financial Group.

    Desiring to leverage existing knowledge sources and integrate them into a single platform, Union Bank selected eGain for its comprehensive multichannel customer interaction platform as well as its market leadership, which is supported by marquee financial services clients and top ratings from leading technology analysts. In addition to creating a layer of guided navigation, thereby improving accessibility and customer experience, the bank additionally desired to tightly integrate the knowledge capability with its CRM environment to improve the productivity of its customer service specialists. Multilingual content management was also an essential need, as Union Bank is a global organization with a Japanese parent. The bank additionally wanted the capability to easily activate new customer points of contact like e-mail, Web, social and mobile.

    eGain leads the industry in providing cloud and on-site customer interaction hub software. For more than 10 years, the company's solutions have improved customer experience, service, and sales across Web, social, and phone channels, and eGain has transformed fragmented sales engagement and customer service operations into unified Customer Interaction Hubs for hundreds of the world's largest companies.

    For more information, visit the company's Web site at www.eGain.com

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Tags: EGAN
    Mar 01 4:22 PM | Link | Comment!
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