Tech News
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Facebook Welcomes Bit9 + Carbon Black into ThreatExchange Community
Published: Thursday, October 29, 2015 | By: GlobalNewswireWALTHAM, Mass., Oct. 29, 2015 (GLOBE NEWSWIRE) -- Bit9® + Carbon Black® the leader in Next-Generation Endpoint Security (NGES), today announced it has joined Facebook's ThreatExchange, a community of leading organizations dedicated to sharing threat data using a structured, easy-to-use API. Bit9 + Carbon Black is the first organization to integrate ThreatExchange data into a product and user interface.
In joining Facebook's ThreatExchange, Bit9 + Carbon Black is part of a community comprising more than 100 top companies, including Facebook, Dropbox, Pinterest, PayPal and Microsoft.Starting today, Carbon Black customers may choose to enable receipt of threat intelligence from the Facebook ThreatExchange and, optionally, integrate that intelligence into their alerting infrastructures. When combined with Carbon Black's continuous endpoint recording and real-time threat intelligence, Facebook's ThreatExchange data further empowers security teams to correlate data to improve detection capabilities and dramatically reduce incident response times.
Mark Hammell, manager of the Threat Infrastructure team at Facebook, summarized the benefits of the integration with Carbon Black in a Facebook post today. The full post is below.
"We are stronger together," said Ben Johnson, Bit9 + Carbon Black's chief security strategist. "The Facebook ThreatExchange continues the industry movement toward unified defense. Through sharing intelligence and other cyber-defense knowledge, especially through automated means, our community as a whole is much stronger and better able to protect vital information."
Industry-first Access
All customers using Carbon Black, the industry's leading endpoint detection and response solution, now have access to the "Traffic Light Protocol White" (TLP White) data in the ThreatExchange. This information is provided to Carbon Black customers via the Bit9 + Carbon Black Threat Intelligence Cloud. TLP White threat indicators include domain names, IPs and hashes.
Additional Access via Connector
Carbon Black customers already active in the Facebook ThreatExchange may install a "connector" to access additional ThreatExchange data using their own member credentials. This connector enables members of the Facebook Threat Exchange to import threat indicators from the ThreatExchange, including domain names, IPs, hashes, and behavioral indicators, into Carbon Black. The Facebook ThreatExchange and its members provide and maintain this data. This connector requires an access token to the Facebook ThreatExchange API. Facebook ThreatExchange members may click here to download the Carbon Black connector for Facebook ThreatExchange.
Carbon Black customers interested in gaining access to this additional threat intelligence are encouraged to apply for the Facebook ThreatExchange beta program. For more information on how to apply, click here.
Full Text of Facebook Post by Mark Hammell:
Scaling ThreatExchange with Product Integration
ThreatExchange has grown quickly since we opened up the application process in August. We now have over 130 companies on the platform and more than 2.5 million daily API calls.
From the start, scale has been an ongoing objective for ThreatExchange to maximize the value of the information shared by the community. As an API-based platform, ThreatExchange was intentionally built to support a wide distribution of available threat intelligence and easily fit within existing workflows. Product integration will continue to play an important role in making it easier for more people to share and use threat intelligence.
Integration with Carbon Black
Today, we're excited to share that not only is Bit9 + Carbon Black already contributing valuable threat intelligence to ThreatExchange, but Carbon Black customers can now choose to receive data from ThreatExchange through the Carbon Black interface. They also have the option to integrate ThreatExchange data into their existing alerting infrastructures.
This means you can leverage the indicators of compromise (IOC) from ThreatExchange against the rich endpoint data available from Carbon Black. It's a powerful combination of IOCs from ThreatExchange with free and easy malware hunting!
About Bit9 + Carbon Black
Bit9 + Carbon Black is the market leader in Next-Generation Endpoint Security. We have sold more licenses, have more experience, and more customers than any other NGES company because our solution is the most effective way to prevent, detect and respond to advanced threats that target users, servers, and fixed-function devices. That's why more than 60 MSSP and IR leaders, including Dell SecureWorks, EY, Optiv and Solutionary, have chosen our technology as a key component of their security offerings, and 25 of the Fortune 100 rely on us as a critical element of their advanced threat defense and compliance strategies. By the end of 2015, we expect to achieve 70 percent growth, 7 million+ software licenses sold, and almost 2,000 customers worldwide. We were voted Best Endpoint Protection by security professionals in the SANS Institute's Best of 2014 Awards, and a 2015 SANS survey found that 68 percent of IR professionals are using or evaluating Carbon Black.
Bit9 and Carbon Black are registered trademarks of Bit9, Inc. All other company or product names may be the trademarks of their respective owners.CONTACT: Kevin Flanagan Bit9 + Carbon Black +1 781-856-2589 kflanagan@bit9.com Kristina LeBlanc MediaLink Group +1 508-930-5636 kristinawleblanc@gmail.com
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Rapid7 Honored with STAR Award for Services Excellence at TSW 2015 Service Transformations Conference
Published: Thursday, October 29, 2015 | By: GlobalNewswireBOSTON, Oct. 29, 2015 (GLOBE NEWSWIRE) -- Rapid7, Inc. (NASDAQ:RPD), a leading provider of security data and analytics solutions, has been named the winner of the Fall 2015 Technology Services Industry Association (TSIA) STAR Award for Innovation in Enabling Customer Outcomes/Customer Success & Support, SMB Level. The award was announced on October 21 at the Technology Services World (TSW) 2015 Service Transformations conference in Las Vegas.
The TSIA STAR Award for Innovation in Enabling Customer Outcomes/Customer Success & Support recognizes the company that demonstrates the most innovative approach, through customer success and support services, to assisting customers in realizing the maximum business value from the use of its products.
Rapid7 provides security data and analytics solutions and services to help organizations reduce the risk of breach, detect and investigate cyber attacks, and build effective security programs. The Company was recognized for its unified Customer Success organization, which includes Sales Engineering, Global Services, Customer Success Management, and Learning & Support functions. Working together across these functions, the collective team helps align priorities to drive adoption, promote learning, and value realization, which enables customers to improve their overall security posture.
"Helping our customers mitigate risk is the driving principle behind everything we do. We know that constantly innovating, adapting to the threat landscape, and giving customers the support and knowledge they need is critical to their success," said Mike McKee, senior vice president of Services and Customer Support. "Building meaningful customer partnerships is at the center of our core values and has always been key to Rapid7's business growth."
"Now in its 25th year, the STAR Awards program has become a long-standing honor in the technology services industry, recognizing organizations that set the standard for leadership and dedication to this important market space," said J.B. Wood, president and CEO of TSIA. "Rapid7 has clearly demonstrated its high-level commitment to delivering world-class results, and it is truly an honor to recognize them for their dedication to excellence."
Companies seeking the STAR Award undergo a rigorous evaluation process, with the winners selected by TSIA's service discipline advisory board members. Since its inception in 1990, the STAR Awards have become one of the highest honors in the technology services industry, acknowledging the contribution of companies of all sizes to the continual improvement of technology services delivery industry-wide. For information on the STAR Awards, go to www.tsia.com/awards_and_certifications/star_awards.html
About Rapid7
Rapid7 is a leading provider of security data and analytics solutions that enable organizations to implement an active, analytics-driven approach to cyber security. We combine our extensive experience in security data and analytics and deep insight into attacker behaviors and techniques to make sense of the wealth of data available to organizations about their IT environments and users. Our solutions empower organizations to prevent attacks by providing visibility into vulnerabilities and to rapidly detect compromises, respond to breaches, and correct the underlying causes of attacks. Rapid7 is trusted by more than 4,150 organizations across 90 countries, including 34% of the Fortune 1000. To learn more about Rapid7 or get involved in our threat research, visit www.rapid7.com.
About TSIA
The Technology Services Industry Association (TSIA) is the world's leading organization dedicated to advancing the business of technology services. Technology services organizations large and small look to TSIA for world-class business frameworks, best practices based on real-world results, detailed performance benchmarking, exceptional peer networking opportunities, and high-profile certification and awards programs. TSIA corporate members represent the world's top technology companies as well as scores of innovative small and mid-size businesses in four major markets: enterprise IT and telecom, consumer technology, healthcare and healthcare IT, and industrial equipment and technology. TSIA's editorial blog, Inside Technology Services, is widely recognized by technology service professionals for providing thought leadership and insights into industry trends and best practices. Visit us at www.tsia.com, follow us on Twitter @TSIACommunity, or connect with us on LinkedIn and Google+.
CONTACT: Media Contact for Rapid7: Rachel Adam Rapid7, Senior PR Manager +1 (857) 415-4443 press@rapid7.com Media Contact for TSIA: Trisha Bright 858-674-5491 trisha.bright@tsia.com
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Edgewater Retains Financial Advisor to Evaluate AMERI and Lone Star Proposals
Published: Monday, November 2, 2015 | By: GlobalNewswireWAKEFIELD, Mass., Nov. 2, 2015 (GLOBE NEWSWIRE) -- Edgewater Technology, Inc. (NASDAQ:EDGW), a leading consulting firm that helps business leaders drive transformational change through its unique selection of business and technology services and specialized product-based solutions, today announced that its Board of Directors has retained Signal Hill Capital Group LLC to serve as financial advisor to the Company.
Signal Hill, along with legal advisors, Hinckley, Allen & Snyder LLP and Jones Day, will assist Edgewater's Board of Directors in evaluating the unsolicited all-stock proposal received from AMERI Holdings, Inc. The Board of Directors is reviewing the AMERI Holdings proposal to determine the course of action that it believes is in the best interests of the Company and all of its stockholders.
The Board of Directors is also aware of the effort by a Company stockholder, Lone Star Value Investors, LP, and others to solicit stockholder consents to remove certain directors from the Board and to implement certain other proposals regarding the Company. The Board and Company management value input from all of the Company's stockholders. The Board, with advice from its financial and legal advisors, will evaluate the Lone Star proposals and provide recommendations to stockholders regarding the associated consent solicitation based on the best interests of the Company and all of its stockholders.
The Board of Directors will complete its evaluation of these matters in due course and will advise stockholders of the outcome of its review at that time.
Additional Information
In connection with the consent solicitation initiated by Lone Star Value Investors, LP, the Company may file a consent revocation statement and other documents regarding the Lone Star proposals with the SEC and may mail a consent revocation statement and a consent revocation card to each stockholder of record entitled to deliver a written consent with respect to the Lone Star proposals. STOCKHOLDERS ARE ENCOURAGED TO READ ANY CONSENT REVOCATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The final consent revocation statement, if any, may be mailed to stockholders. Investors and security holders will be able to obtain the documents free of charge at the SEC's website, www.sec.gov, from Edgewater at its website, www.edgewater.com, or 200 Harvard Mill Square, Suite 210, Wakefield, Massachusetts 01880, Attention: Corporate Secretary.
Participants in Solicitation
The Company and its directors and executive officers may be deemed to be participants in the solicitation of consent revocations in connection with the Lone Star proposals. Information concerning the Company's participants is set forth in the proxy statement, dated April 22, 2015, for its 2015 Annual Meeting of Stockholders as filed with the SEC on Schedule 14A. Additional information regarding the interests of participants of the Company in any solicitation of consent revocations in connection with the Lone Star proposals and other relevant materials, if any, will be filed with the SEC when they become available.
About Edgewater
Edgewater (NASDAQ:EDGW) helps business leaders drive transformational change through its unique selection of business and technology services and specialized product-based solutions.
Classic consulting disciplines (such as business advisory, process improvement, organizational change management, M&A due diligence, and domain expertise) are blended with technical services (such as digital transformation, technical roadmaps, data and analytics services, custom development, and system integration) to help organizations get the most out of their existing IT assets while creating new digital business models.
Delivering both on premise and in the cloud, Edgewater partners with Oracle and Microsoft to offer Business Analytics, BI, ERP, and CRM solutions. Edgewater Ranzal, an Oracle Platinum Consulting Partner, provides Business Analytics solutions leveraging Oracle EPM, BI, and Big Data technologies. As an award-winning Microsoft partner, Edgewater Fullscope delivers Dynamics AX ERP, Business Intelligence, and CRM solutions, with a specialty in manufacturing.
CONTACT: INVESTOR CONTACT: Edgewater Technology, Inc. Timothy R. Oakes Phone: 781-246-6984 E-mail: toakes@edgewater.com MEDIA CONTACT: Sard Verbinnen & Co Bryan Locke / Debbie Miller Phone: (312) 895-4700 E-mail: blocke@sardverb.com / dmiller@sardverb.com
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3D Systems Launches 3D Printing Lab With U.S. Army
Published: Friday, October 30, 2015 | By: GlobalNewswire- Army lab acquires wide range of 3DS technology for joint materials and applications research
- Army and 3DS scientists to work together on-site at Aberdeen Proving Ground to develop, evaluate, and qualify new materials
- Army 'Open Campus' effort catalyzes innovations for American soldiers and industry through public/private partnership
ROCK HILL, S.C., Oct. 30, 2015 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD) announced today a partnership with the U.S. Army Research Laboratory (ARL), the nation's premier research center for land forces, to jointly develop 3D printing technology and materials for automotive, medical, wearable, aerospace, and other commercial and defense applications at the Army's Aberdeen Proving Ground in Maryland.
As part of this agreement, 3DS personnel will serve as guest researchers on-site at Aberdeen Proving Ground to collaborate with the Army's material scientists. Together, Army and 3DS researchers will tap ARL's expansive high-tech materials characterization toolset, as well as bring together scores of leading polymer and metals scientists from the government and industry. 3DS will also work with the Army on hybridized manufacturing applications using 3D printing to allow for logistics innovations such as in-field manufacturing and efficient depot-level repair.
"Additive manufacturing is redefining what is possible. Novel materials research will enable areas like 3D printed electronics and multi-functional structures. The development of hybridized manufacturing technologies will allow in-field manufacturing, efficient depot-level repair and a reduction of the Army's overall logistics burden," said Larry (LJ) Holmes, the Army Research Laboratory's Principal Investigator in this effort. "Equipping our soldiers with the most cutting edge technology requires innovations throughout our supply chain. We are pleased to embark on this cooperative R&D agreement, which will undoubtedly unlock new scientific discoveries and industrial innovation."
Additionally, under the lab's new Open Campus initiative, various companies, universities, and government agencies can apply to access the ARL's newly acquired inventory of 3D printer technologies from 3DS, including a host of the latest state-of-the-art Stereolithography, Direct Metal Printing, and MultiJet Printing machines.
"The United States Army is both a leader and innovator in adopting 3D printing technology," said Neal Orringer, 3DS' Vice President of Alliances and Partnerships. "Through its Open Campus initiative, the ARL is not only advancing high-tech collaboration, but also—more importantly— breaking new ground in fielding new materials and systems that support American soldiers, and we are proud to be the Army's partner."
Development and qualification of new materials and printer technologies under this agreement will enable adoption of this technology within the Army, its industrial base and that of other industries.
ARL will showcase its 3D printing research facilities at its Open Campus Open House on November 3 – 4, 2015 at its Aberdeen Proving Ground campus in Maryland. The event will introduce members of the international science and technology community to the ARL's research scientists and engineers and its specialized laboratory facilities that are available to support joint research. More information can be found here.
Learn more about 3DS' commitment to manufacturing the future today at www.3dsystems.com.
About 3D Systems
3D Systems provides the most advanced and comprehensive 3D digital design and fabrication solutions available today, including 3D printers, print materials and cloud-sourced custom parts. Its powerful ecosystem transforms entire industries by empowering professionals and consumers everywhere to bring their ideas to life using its vast material selection, including plastics, metals, ceramics and edibles. 3DS' leading personalized medicine capabilities include end-to-end simulation, training and planning, and printing of surgical instruments and devices for personalized surgery and patient specific medical and dental devices. Its democratized 3D digital design, fabrication and inspection products provide seamless interoperability and incorporate the latest immersive computing technologies. 3DS' products and services disrupt traditional methods, deliver improved results and empower its customers to manufacture the future now.
Leadership through Innovation and Technology
- 3DS invented 3D printing with its Stereolithography (SLA) printer and was the first to commercialize it in 1989.
- 3DS invented Selective Laser Sintering (SLS) printing and was the first to commercialize it in 1992.
- 3DS invented and commercialized its patented, ground-breaking force-feedback haptic devices in 1993.
- 3DS invented the ColorJet Printing (CJP) class of 3D printers and was the first to commercialize 3D powder-based systems in 1994.
- 3DS invented MultiJet Printing (MJP) printers and was the first to commercialize it in 1996.
- 3DS pioneered virtual surgical simulation (VSSTM) and virtual surgical planning (VSP®) as part of its portfolio of leading 3D healthcare products and services.
- 3DS pioneered scan-based design with the release of the patented Geomagic Design X (XOR) software in 2006.
Today its comprehensive range of 3D printers is the industry's benchmark for production-grade manufacturing in aerospace, automotive, patient specific medical device and a variety of consumer, electronic and fashion accessories.
More information on the company is available at www.3dsystems.com.
CONTACT: Investor Contact: Stacey Witten Email: investor.relations@3dsystems.com Media Contact: Timothy Miller Email: Press@3dsystems.com
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Prime Numbers Technology Releases Contract Monitoring
Published: Monday, November 2, 2015 | By: GlobalNewswireMILFORD, Mass., Nov. 2, 2015 (GLOBE NEWSWIRE) -- Prime Numbers Technology (PNT), long-standing provider of data analysis solutions, and the independent development force behind industry-leading travel reporting and benchmarking platform, Prime Analytics, has today announced the release of its latest data analysis tool: Contract Monitoring. This release marks the second phase of PNT's contract and vendor analysis software, Prime Sourcing, which was unveiled late 2014.
Contract Monitoring is a contract definition tool which builds upon the analytic framework established in Prime Sourcing's first module, Dynamic Analysis. Within the tool, users are guided through an intuitive configuration and contract data loading interface, which provides real-time feedback and validates entries against historical data and PNT's proprietary rules engine. Once contract data and discounts are loaded into Contract Monitoring, they become fully functional components within Dynamic Analysis, offering further dissection and benchmarking of contract performance.
"At its core, Contract Monitoring is an agreement optimization tool," explained Doug Vasquez, Vice President, Software Development at Prime Numbers Technology. "On a corporate direct level, businesses can explore the performance of their current and historical contracts, which can assist in discount negotiation and preferred vendor analysis. Through the interface, corporations can further visualize the 'Where?' and 'Why?' of their current contract performance, and learn exactly which factors can help their company improve, or stay on track."
Travel management companies (TMCs) can also leverage Contract Monitoring to gain new perspective into agency-wide contracts and supplier agreements. By defining targets for their contract and discount goals, TMCs can track the effectiveness of their negotiated agreements to reveal hidden potential for greater ROI, as well as supplier discounts.
"This new module of Prime Sourcing is a powerful tool for corporations and TMCs alike, and we're looking forward to seeing how users interact with the tool," added Vasquez. "We'll be utilizing user feedback to fine-tune the last module of Prime Sourcing – Contract Modeling – which is planned for release in 2016."
Prime Sourcing's first modules, Contract Monitoring and Dynamic Analysis, are available for TMC and corporate commercial licensing now. For more information, including demonstration and licensing inquiries, please visit www.primenumberstechnology.com.
About Prime Numbers Technology
Prime Numbers Technology (PNT) is dedicated to helping clients drive significant savings in business spend through industry-recognized data analytics and benchmarking solutions. PNT is in continuous development for a comprehensive suite of solutions including data analytics and benchmarking, dashboards, policy management, best practices and ROI maximization. PNT technology is licensed by some of the most recognized names in business travel, with global representation by many Fortune 250 corporations and top 10 travel management companies. PNT is a division of Atlas Travel & Technology Group Inc., based in Milford, MA. For more information on Prime Numbers Technology, please visit www.primenumberstechnology.com.CONTACT: Andrew Carriere Marketing & Communications Coordinator Atlas Travel & Technology Group Inc. +1 (508) 488-1260 Andrew.Carriere@atlastravel.com
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Next Generation Crucial BX200 SSD is an Ideal Hard Drive Replacement
Published: Tuesday, November 3, 2015 | By: GlobalNewswireKey Messages:
- BX200 SSD allows users to load applications in seconds
- Compared to hard drives, computers will boot up almost instantly
- Applications will accelerate in speed
Multimedia Elements:
BOISE, Idaho and GLASGOW, United Kingdom, Nov. 3, 2015 (GLOBE NEWSWIRE) -- Crucial, a leading global brand of memory and storage upgrades, today announced the new Crucial® BX200 solid state drive (SSD), which offers substantial yet affordable performance gains compared to a standard hard drive. The drive, designed for consumers and SMBs, allows users to load applications in seconds, boot up almost instantly, and accelerate every day applications.
The new BX200 provides sequential read and write speeds up to 540 MB/s and 490 MB/s respectively on all types of data, as well as random read and write speeds up to 66k and 78k IOPS respectively. Additionally, when compared to a typical hard drive, the new BX200 is more than 13 times fasteri and 40 times more energy efficientii for almost instantaneous access to data, resulting in longer battery life and a cooler, quieter system. The new drive utilizes a Silicon Motion SM2256 Controller and is coupled with Micron verified firmware, allowing users to upgrade their existing infrastructure at an affordable price, which is a great alternative to buying a whole new system.
"The new Crucial BX200 SSD is an ideal solution for consumers whose computers are slowed down by an old or inadequate hard drive," said Jonathan Weech, senior worldwide product manager, Crucial. "This SSD is the perfect blend of performance and value, allowing a user to get more done and have more fun. Installing a BX200 will help users enjoy their computers again."
Robert Fan, vice president and general manager of Silicon Motion U.S.A., said, "We are excited about our latest partnership with Crucial on the new BX200 SSD. Our high-performance and low power consumption SM2256 controller combined with Micron 16nm TLC NAND helps make the BX200 reliable, fast, energy efficient and affordable."
Available now in a 2.5-inch form factor, the Crucial BX200 SSD is offered in 240GB, 480GB and 960GBiii with MSRPs of $84.99, $149.99 and $299.99, respectively, and is available at crucial.com. The new drive is supported by the Crucial Storage Executive tool, is backed by a limited three-year warranty, and is compatible with both PC and Mac® systems. The BX200 also comes standard with Acronis® True Image™ HD data migration software that moves all files, operating systems, settings and programs from an existing hard drive to the newly installed SSD. For more information about Crucial SSDs, please visit www.crucial.com/bx200.
Follow us online!
Facebook: www.facebook.com/crucialmemory
Twitter: www.twitter.com/crucialmemory
YouTube™: www.youtube.com/crucialmemoryAbout Crucial
Crucial is a global brand of Micron Technology, Inc. Crucial products include award-winning solid state drives (SSDs) and DRAM for more than 50,000 desktops, laptops, servers, workstations, and other systems. Crucial products are available worldwide at leading retail and e-tail stores, commercial resellers, and system integrators. For more information or support, visit www.crucial.com.
About Micron
Micron Technology, Inc. is one of the world's leading providers of advanced semiconductor solutions. Through its worldwide operations, Micron manufactures and markets a full range of DRAM, NAND and NOR flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products. Micron's common stock is traded on the NASDAQ under the MU symbol. To learn more about Micron Technology, Inc., visit www.micron.com.
©2015 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Neither Crucial nor Micron Technology, Inc. is responsible for omissions or errors in typography or photography. Micron, the Micron logo, Crucial, and the Crucial logo are trademarks of Micron Technology, Inc. Acronis® and True Image™ are registered trademarks or trademarks of Acronis International GmbH or its affiliates in the United States and other countries. All other trademarks are the property of their respective owners.
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i Performance level based on comparative benchmark scores of the Crucial BX200 SSD and the Western Digital® Caviar Blue™ WD10EZEX internal hard drive. Actual performance level may vary based on benchmark used and individual system configuration. Test setup: 256GB Crucial m4 SSD as the primary storage drive, paired with a 960GB Crucial BX200 SSD and a 1TB Western Digital Caviar Blue internal hard drive as secondary drives (each secondary drive tested separately). All tests conducted on an Asus® Maximus VII Gene motherboard, Intel® i7-4790K 4.0GHz processor, SAPPHIRE Radeon HD 3870 video card, BIOS Rev. 2801, and Windows® 7 Pro 64-bit operating system using PCMark Vantage HDD test suite. Benchmark testing conducted September 2015.
ii Active average power use comparison based on published specs of the 960GB Crucial BX200 SSD and the 1TB Western Digital Caviar Blue internal hard drive.
iii 1 GB equals 1 billion bytes. Actual usable capacity may vary.CONTACT: Media Contact: US Contact: Brittany Hendrickson InkHouse Media + Marketing +1 (415) 299-6370 crucial@inkhouse.com www.crucial.com
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BMC Named Mobby Award Winner for Best Collaboration and Teamwork App
Published: Tuesday, November 3, 2015 | By: GlobalNewswireHOUSTON, Nov. 3, 2015 (GLOBE NEWSWIRE) -- BMC, the global leader in software solutions for IT, has been named the winner of the Best Collaboration and Teamwork App in the 2015 Mobby Awards. Selected from a pool of more than 150 nominated apps, the award honors BMC MyEBC, a mobile application designed to deliver an exceptional customer experience for those visiting the company's executive briefing center in Houston.
The MyEBC app provides a holistic approach to the customer's visit with BMC including personalized access to all logistical and content details associated with the visit such as agendas, speaker bios, travel information, presentations and related post briefing collateral.
"At BMC we strive to create intuitive solutions, centered on specific needs that enable our customers to be more productive. MyEBC does just that, and we are excited to be recognized by the industry," said Karen Bintz, area vice president, customer experience, BMC. "The BMC MyEBC app redefines how executive briefing centers can bring digital transformation to life and sets the standard for customer-facing enterprise apps."
MyEBC was developed in collaboration with Appirio's top coder community. "Appirio's developer community is comprised of some of the most talented programming and design experts in the world," says Tom Scott, vice president at Appirio. "We are proud to be a trusted BMC partner and are excited to have been given the opportunity to help build an innovative business application that delivers exceptional customer experiences and interactions."
The Mobby Awards celebrate the best mobile apps for work and productivity across the world. For a list of winners, visit http://tabbyawards.com/business/2015-winners/.
About BMC
BMC is a global leader in software solutions that help IT transform traditional businesses into digital enterprises for the ultimate competitive advantage. Our Digital Enterprise Management set of IT solutions is designed to make digital business fast, seamless, and optimized. From mainframe to mobile to cloud and beyond, we pair high-speed digital innovation with robust IT industrialization—allowing our customers to provide intuitive user experiences with optimized performance, cost, compliance, and productivity. BMC solutions serve more than 15,000 customers worldwide including 82 percent of the Fortune 500.BMC – Bring IT to Life
BMC, BMC Software, the BMC logo, and the BMC Software logo are the exclusive properties of BMC Software Inc., are registered or pending registration with the U.S. Patent and Trademark Office, and may be registered or pending registration in other countries. All other BMC trademarks, service marks, and logos may be registered or pending registration in the U.S. or in other countries. All other trademarks or registered trademarks are the property of their respective owners. © Copyright 2015 BMC Software, Inc.
CONTACT: Editorial contacts: Tami Casey BMC D: 408.571.7131 M: 650.293.7219 Tami_Casey@bmc.com Jenn Zimmer Eastwick Communications D: 415.820.4175 bmc@eastwick.com
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Centage Corporation Continues Rapid Growth Driven by Demand for Cloud-Based Budgeting Solutions
Published: Tuesday, November 3, 2015 | By: GlobalNewswireNATICK, Mass., Nov. 3, 2015 (GLOBE NEWSWIRE) -- Centage™ Corporation, a leading provider of budgeting and forecasting software (Budget Maestro™) for small and medium sized businesses, today announced the company has continued its double digit growth, as market demand for innovative cloud-based budgeting solutions expands. The company's cloud-based Budget Maestro solution has generated five times more revenue in Q3 of this year than for the same period last year. The extraordinary adoption of the cloud platform has also driven a 130% increase in cloud software sales year to date.
Centage remains committed to delivering the financial and operational insight organizations need to improve business performance, and has also garnered independent industry recognition for its efforts.
Notable industry recognition for 2015 include:- Awarded Microsoft Gold Competency for application development;
- Designated a Core Vendor in BPM Partners 2015 BPM Pulse report;
- Selected as a 2015 Golden Bridge Awards finalist for "Innovation in Business Process Management" with Analytics Maestro and "Best Deployment", based on a successful customer case study with M3 Midstream; and,
- Named a finalist nominee in CPA Practice Advisor's annual Innovation Awards.
"Top performing organizations look for solutions that can provide the essential information and process flows needed to effectively and efficiently plan, budget, and forecast", noted Nick Castellina, Senior Research Director, Aberdeen Group. "Part of the solution selection equation is deployment method. Due to cost concerns, easy implementation, and recurring updates, cloud technology has been an attractive alternative to spreadsheets, for organizations that are looking to improve their FP &A processes."
"We have more 7,000 users worldwide across industries including manufacturing, healthcare and non-profit", said Barry Clapp, President & CEO of Centage. "While Budget Maestro's growth has been nearly 30% per year of late, we were constrained by not offering the alternative of cloud access to the product. Since we offered it, adoption and growth has wildly exceeded our expectations. Our customers and market face challenges that demand timely, agile, flexible budgeting, planning and forecasting, and that also enable involvement of a broader number of managers in the process. The budget itself, and financial reports, need to be easily modifiable and should be accessible on whatever technology platform that the customers desire. Adding cloud access continues our mission to make our best in class tool affordable and easy to deploy."
As part of the company's ongoing commitment to ensuring customer success, Centage also introduced a new cloud-based training portal. The Training Center is an extension of the company's "Center of Excellence" program and complements existing educational resources. The complimentary resource for Budget Maestro users is designed to serve as, a study guide for new users, to reinforce what was learned during initial implementation, and as an independent resource for on-demand training.
For more information on Centage follow us on Twitter @Centage or visit our blog http://centage.com/Blog/.
About Centage
Budget Maestro® by Centage is an easy-to-use, scalable, automated budgeting, planning, and forecasting application. It is designed for small to mid-market companies and automates many of the time-consuming and error-prone activities associated with using spreadsheets to generate accurate budgets and forecasts. It features built in financial and business logic that allow users to build and update their budgets and forecasts and never worry about formulas, functions, links or any custom programming. It is the only solution in the market that offers synchronized P &L, Balance Sheet, and Cash Flow reporting that generate automatically and seamlessly update. Budget Maestro serves more than 7,000 users worldwide. Visit us at www.centage.com. For more information follow us on Twitter @Centage or visit our blog http://blog.centage.com/ for the latest insights on budgeting and forecasting strategies.
Centage and Budget Maestro are registered trademarks of Centage.CONTACT: David Winterhalter dwinterhalter@centage.com (508) 948-0088
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Johnson Smith Company(TM) Expands Relationship with Yes Lifecycle Marketing
Published: Tuesday, November 3, 2015 | By: GlobalNewswireCHICAGO, Nov. 3, 2015 (GLOBE NEWSWIRE) -- Yes Lifecycle Marketing, an Infogroup company and multichannel marketing solutions provider, today announced the Johnson Smith Company™ has expanded their relationship with Yes Lifecycle Marketing to include full-service marketing capabilities - analytics, strategy, data and database marketing technology - across their brands.
As one of America's oldest catalog and internet retailers, headquartered in Bradenton, FL, the Johnson Smith Company, relies on Yes Lifecycle Marketing to provide data-driven, actionable insights, and state-of-the-art technology solutions to ensure they are meeting the demands of their customers. By implementing a Marketing Opportunity Diagnosis, Yes Lifecycle Marketing's Agency Services was able to equip the Johnson Smith Company with a comprehensive customer data analysis in order to quantify and fuel revenue growth opportunities.
"Yes Lifecycle Marketing has provided us with the insights and guidance to help lead our business into becoming a better multichannel cataloger," said Johnson Smith Company's, Ellen Pullman, Director of Marketing. "They understand our customers, our business and our vision."
Key reasons the Johnson Smith Company selected Yes Lifecycle Marketing include:- Innovative data and analytics solutions
- Thought Leadership
- Database marketing expertise
- Responsiveness and collaboration of the client service team
"The Johnson Smith Company has long been a household name in cataloging for novelties, gifts and collectibles," said Michael Fisher, president of Yes Lifecycle Marketing. "We are thrilled to be an integral partner as the Johnson Smith Company further evolves into a multichannel marketer."
"Yes Lifecycle Marketing is well positioned to help traditional cataloguers adapt to the multichannel age of marketing," said Mike Iaccarino, CEO and Chairman, of Infogroup. "Our expertise as a services and technology partner gives clients the opportunity to facilitate progress and develop strategies that impact the bottom line."
About Johnson Smith CompanyFounded in 1904 by Alfred Johnson Smith in Australia and launched in the United States in 1914, is celebrating its 97th anniversary in 2011. Based in Bradenton, Florida, The Johnson Smith Company serves millions of people through its four catalogs and complementary web sites - The Lighter Side (www.LighterSide.com), Things You Never Knew Existed (www.ThingsYouNeverKnew.com), Betty's Attic (www.BettysAttic.com), and Full of Life (www.FullOfLife.com). The Johnson Smith Company is a member of The Direct Marketing Association, American Catalog Association, The New England Mail Order Association, the Manatee (Fla.) Chamber of Commerce and Better Business Bureau. Find out more information at: www.johnsonsmith.com.
About Yes Lifecycle MarketingYes Lifecycle Marketing provides solutions that orchestrate cross-channel marketing communications to drive results and revenue. This is accomplished by leveraging technology, data, analytics, creative, and strategy to activate and optimize insights-driven, real-time, relevant communications. This holistic approach gives marketers the ability to source a full-service offering of best-of-breed technology and solutions from a single vendor in order to achieve their desired outcomes across all on and offline channels. To learn more, call 1-877-937-6245, email sales@yeslifecyclemarketing.com or visit www.yeslifecyclemarketing.com.
About InfogroupInfogroup is a marketing services and analytics provider that delivers best in class data-driven customer-centric technology solutions. Our data and software-as-a-service (DaaS & SaaS) offerings help clients of all sizes, from small companies to FORTUNE 100TM enterprises, increase their sales and customer loyalty. Infogroup provides both digital and traditional marketing channel expertise that is enhanced by access to our proprietary data on 235MM individuals and 24MM businesses, which is distributed real-time to our clients. For more information, visit: www.infogroup.com.
CONTACT: Sarah Dietze Phone: 312-241-1471 E-mail: sarah.dietze@walkersands.com
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Epiq Systems Reports Third Quarter 2015 Results and Updates Fiscal Year 2015 Outlook
Published: Tuesday, November 3, 2015 | By: GlobalNewswireKANSAS CITY, Kan., Nov. 3, 2015 (GLOBE NEWSWIRE) -- Epiq Systems, Inc. (NASDAQ:EPIQ), a leading global provider of integrated technology solutions for the legal profession, today announced results for its third quarter ended September 30, 2015 and updated its full year financial outlook for 2015. Epiq will hold a conference call today at 4:30 pm ET to review its results (details below).
Summary Results (Unaudited) Three months ended Sept. 30 Nine months ended Sept. 30 (In millions, except share count and per share data) 2015 2014 2015 2014 Segment Operating Revenue Technology $91.8 $69.1 $255.0 $228.8 Bankruptcy & Settlement Administration $39.5 $34.8 $114.6 $106.8 Total Operating Revenue $131.3 $103.9 $369.6 $335.6 Net Income (Loss)(1) ($19.2) $5.0 ($20.7) ($0.7) Net Income (Loss) Per Diluted Share(1) ($0.52) $0.14 ($0.57) ($0.02) Adjusted EBITDA(2) $29.7 $23.7 $75.9 $71.8 Adjusted Net Income(2) $9.0 $6.5 $21.4 $20.7 Adjusted Earnings Per Diluted Share(2) $0.24 $0.18 $0.58 $0.59 Adjusted Diluted Shares (in thousands) 37,055 36,288 36,995 35,339 Net Cash from Operating Activities $18.9 $18.6 $46.8 $37.4 (1) Includes impact of a GAAP net non-cash tax charge of $19.0 million related to establishing a full valuation allowance against U.S. deferred tax assets. The impact of this charge to net loss per diluted share is $0.52 for the three and nine months ended September 30, 2015. The valuation allowance is included in "Provision for (benefit from) income taxes" in the Condensed Consolidated Statements of Operations. (2) Adjusted net income, adjusted EBITDA and adjusted earnings per share are all non-GAAP financial measures. See the accompanying tables herein for information regarding these measures and reconciliation to the most comparable GAAP measure. Q3 Financial Overview
Third quarter 2015 operating revenue increased 26%, or 16% excluding operating revenue from recently acquired Iris Data Services, compared to the third quarter 2014 driven by both of Epiq's operating segments. Technology segment operating revenues increased 33%, or 17% excluding operating revenue from Iris, compared to the prior year quarter while Bankruptcy and Settlement Administration operating revenue increased 14%. Consolidated adjusted EBITDA increased 25% from $23.7 million in the third quarter 2014 and rose 20% from $24.7 million in Q2 2015 and 39% from $21.4 million in Q1 2015. Quarterly adjusted EPS of $0.24 per diluted share increased 33% compared to the prior year quarter and rose 33% from $0.18 in Q2 2015 and 60% from $0.15 in Q1 2015.
Recent Company Highlights
- Launch of a full-service eDiscovery office in Frankfurt, including managed services through Iris Data Services, a comprehensive document review center, and data processing and hosting in a world-class data center.
- Retained as call center provider to support the U.S. Office of Personnel Management's (OPM) response to cybersecurity incidents earlier this year impacting 21.5 million individuals.
- Recently elected independent directors, Kevin L. Robert and Douglas M. Gaston, have been newly appointed as chairs of the Audit Committee and Compensation Committee, respectively, and the Board of Directors is exploring the addition of new independent directors.
- Declared dividend of $0.09 per share, Epiq's 22nd consecutive quarterly dividend, payable November 16, 2015 to shareholders of record at the close of business October 15, 2015.
"Epiq delivered a strong quarter of growth in operating revenue, adjusted EBITDA and adjusted EPS reflecting both organic growth and the first full quarter of Iris Data Services revenue as we finalize the integration of that organization into Epiq's global footprint. We see Iris's leading managed services offering being a key part of our eDiscovery growth strategy and market differentiation," said Tom W. Olofson, chairman and CEO, Epiq Systems.
"Epiq continues to be a preferred strategic partner for complex legal matters. The pace of data breaches, regulatory investigations and a healthy environment for corporate M&A provide favorable indicators of global demand for our services. While Epiq continues to gain market share and achieve revenue growth, we are very focused on improving margins and profitability in 2015. We have identified and are implementing a range of initiatives to better leverage our global resources, optimize efficiency and improve our cost structure."
Segment Review
Technology Segment (eDiscovery) Three months ended Sept. 30 Nine months ended Sept. 30 (In millions)(Unaudited) 2015 2014 2015 2014 Operating Revenue $91.8 $69.1 $255.0 $228.8 Adjusted EBITDA $26.3 $20.5 $68.6 $63.3 Operating Revenue Mix By Service Type Electronically Stored Information (ESI) 62% 63% 60% 57% Document Review 38% 37% 40% 43% By Region North America 78% 74% 78% 80% Europe and Asia 22% 26% 22% 20% Epiq's Technology segment provides integrated technology solutions for electronic discovery (eDiscovery), including global electronically stored information (ESI, which includes Iris eDiscovery managed services) and global document review. Revenue growth within Technology (excluding Iris) was 17% for the third quarter and 33% for the segment including Iris. Operating revenue from international eDiscovery increased by $2.4 million compared to the prior year quarter reflecting growth in both document review and ESI service revenues from new and existing clients. On a pro forma basis and excluding Iris Data Services, international eDiscovery represented 25% of Technology segment operating revenue compared to 26% in the prior year quarter. While pricing pressure in North American ESI services continued to impact operating margins, Technology segment adjusted EBITDA increased 28% compared to the third quarter 2014 primarily due to increased demand for ESI and document review services worldwide in addition to initiatives to drive cost control and increased efficiency.
Bankruptcy and Settlement Administration Segment Three months ended Sept. 30 Nine months ended Sept. 30 (In millions)(Unaudited) 2015 2014 2015 2014 Operating Revenue $39.5 $34.8 $114.6 $106.8 Adjusted EBITDA $13.9 $12.7 $36.1 $38.5 Bankruptcy and Settlement Administration segment third quarter operating revenue increased 14% compared to the prior year period, driven primarily by 29% growth in Settlement Administration. A low level of Chapter 11 bankruptcy filings persisted in the third quarter, a trend that is expected to continue for the remainder of 2015. Epiq continues to secure non-traditional work and ongoing projects from current clients to supplement operating revenue in this segment. Segment Adjusted EBITDA increased 9% from the prior year quarter due to increased revenue from Settlement Administration services and activity from existing Bankruptcy engagements and non-traditional clients.
GAAP Non-Cash Tax Charge
For the third quarter 2015, Epiq recorded a net non-cash tax charge of $19 million as a valuation allowance against deferred tax assets related to its U.S. operations. The impact of this charge to net loss per diluted share is $0.52 for the three and nine months ended September 30, 2015. Third quarter 2015 tax expense was $22 million, which includes the discrete impact of establishing a full valuation allowance against U.S net deferred tax assets. The establishment of a valuation allowance does not impact cash flows, nor does Epiq expect it to preclude the use of loss carryforwards or other deferred tax assets in the future, including the expected realization of approximately $23 million related to the April 2015 acquisition of Iris Data Services.
2015 Financial Guidance Update
Based on Epiq's current assessment, the Company is updating full year 2015 operating revenue to range between $495 million and $505 million, adjusted EBITDA between $105 million to $108 million and adjusted EPS between $0.82 and $0.85.
Management will provide a more detailed discussion of its 2015 outlook and a general 2016 outlook during the earnings conference call today at 4:30 p.m. ET (3:30 p.m. CT).
CONFERENCE CALL INFORMATION Call Dial in: (877) 303-6311 or (631) 813-4730 Webcast URL: http://www.epiqsystems.com/investors/corporate-overview/ Audio replay: (855) 859-2056, ID# 59972387, available through Nov. 10, 2015 About Epiq Systems
Epiq Systems is a leading global provider of integrated technology solutions for the legal profession, including electronic discovery, bankruptcy, and class action and mass tort administration. We offer full-service capabilities to support litigation, investigations, financial transactions, regulatory compliance and other legal matters. Our innovative technology and services, deep subject-matter expertise and global presence spanning 45 countries served from 20 locations allow us to provide secure, reliable solutions to the worldwide legal community. Visit us at www.epiqsystems.com.
Use of Non-GAAP Financial Measures
This press release includes the following non-GAAP financial measures: (i) adjusted net income (net income adjusted for amortization of acquisition intangibles, share-based compensation, intangible asset impairment expense, acquisition and related expense, one-time technology expense, loan fee amortization, litigation expense, timing of recognition of expense, reorganization expense, gain or loss on disposition of assets, strategic review expense, and the effect of tax adjustments that are outside of Epiq Systems' anticipated effective tax rate, all net of tax), (ii) adjusted earnings per share, calculated as adjusted net income on a fully diluted per share basis, and (iii) adjusted EBITDA (net income adjusted for depreciation and amortization, share-based compensation, intangible asset impairment expense, acquisition and related expense, one-time technology expense, net expense related to financing, litigation expense, timing of recognition of expense, reorganization expense, gain or loss on disposition of assets, strategic review expense, and provision for (benefit from) income taxes). Income taxes typically represent a complex element of a company's income statement and effective tax rates can vary widely between different periods. Epiq Systems uses an approximate statutory tax rate of 40% to reflect income tax effects in the presentation of its adjusted net income and adjusted net income per share. Utilization of an approximate statutory tax rate for presentation of the non-GAAP measures is done to allow a consistent basis for investors to understand financial performance of the company across historical periods.
Although Epiq Systems reports its results using GAAP, Epiq Systems also uses non-GAAP financial measures when management believes those measures provide useful information for its shareholders. These non-GAAP financial measures are intended to supplement the GAAP financial information by providing additional insight regarding results of operations and to allow a comparison with other companies, many of whom use similar non-GAAP financial measures to supplement their GAAP results. Certain items are excluded from these non-GAAP financial measures to provide additional comparability measures from period to period. These non-GAAP financial measures will not be defined in the same manner by all companies and may not be comparable to other companies. These non-GAAP financial measures are reconciled in the accompanying tables to the most directly comparable measures as reported in accordance with GAAP, and should be viewed in addition to, and not in lieu of, such comparable financial measures.
Forward-looking and Cautionary Statements
This press release includes forward-looking statements. These forward-looking statements include, but are not limited to any projection or expectation of earnings, revenue or other financial items; the plans, strategies and objectives of management for future operations; factors that may affect our operating results; new products or services; the demand for our products and services; our ability to consummate acquisitions, successfully integrate them into our operations and achieve expected synergies; future capital expenditures; effects of current or future economic conditions or performance; industry trends and other matters that do not relate strictly to historical facts or statements of assumptions underlying any of the foregoing. These forward-looking statements are based on our current expectations. In this press release, we make statements that plan for or anticipate the future. Forward-looking statements may be identified by words or phrases such as "believe," "expect," "anticipate," "should," "planned," "may," "estimated," "goal," "objective," "seeks," and "potential" and variations of these words and similar expressions or negatives of these words. Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, provide a "safe harbor" for forward-looking statements. Because forward-looking statements involve future risks and uncertainties, listed below are a variety of factors that could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in our forward-looking statements. These factors include (1) failure to keep pace with technological changes and significant changes in the competitive environment, (2) risks associated with cyber-attacks, interruptions or delays in services at data centers, (3) risks of errors or failures of software or services, (4) interruptions or delays in service at data centers we utilize for delivery of our services, (5) undetected errors in, and failure of operation of, software products releases, (6) our reliance on third-party hardware and software, (7) failure of our financial, operating and information systems to operate as intended, (8) our inability to attract, develop and retain executives and other qualified employees, (9) risks associated with the integration of acquisitions into our existing business operations, (10) risks associated with our international operations, (11) lack of protection of our intellectual property through patents and formal copyright registration, (12) risks of litigation against us for infringement of proprietary rights, (13) material changes in the number of bankruptcy filings, class action filings or mass tort actions each year, or changes in government legislation or court rules affecting these filings, (14) any material non-cash write-downs based on impairment of our goodwill, (15) fluctuations in our quarterly results that could cause fluctuations in the market price of our common stock, (16) our inability to maintain compliance with debt covenant ratios, (17) risks associated with indebtedness and interest rate fluctuations, (18) risks associated with provisions of our articles of incorporation that prevent a takeover of Epiq, (19) overall strength and stability of general economic conditions, both in the United States and in the global markets, (20) the impact of our current review process of strategic alternatives, and (21) other risks detailed from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. In addition, there may be other factors not included in our Securities and Exchange Commission filings that may cause actual results to differ materially from any forward-looking statements. We undertake no obligation to update publicly or revise any forward-looking statements contained herein to reflect future events or developments, except as required by law.
EPIQ SYSTEMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 REVENUE: Operating revenue $131,325 $103,955 $369,637 $335,626 Reimbursable expenses 11,210 7,051 29,936 23,707 Total Revenue 142,535 111,006 399,573 359,333 OPERATING EXPENSE: Direct cost of operating revenue (exclusive of depreciation and amortization shown separately below) 64,420 48,193 183,350 163,361 Reimbursable expenses 10,712 6,827 28,506 23,064 Selling, general and administrative expense 42,267 35,332 126,104 125,870 Depreciation and software and leasehold amortization 9,787 9,693 28,050 27,648 Amortization of identifiable intangible assets 5,831 3,184 13,326 9,470 Impairment of goodwill and identifiable intangible assets -- -- 1,162 -- Fair value adjustment to contingent consideration 19 -- (1,182) 1,142 Other operating expense, net 1,308 215 4,306 792 Total Operating Expense 134,344 103,444 383,622 351,347 OPERATING INCOME 8,191 7,562 15,951 7,986 INTEREST EXPENSE (INCOME): Interest expense 5,374 3,945 15,083 12,674 Interest income (17) (4) (22) (17) Net Interest Expense 5,357 3,941 15,061 12,657 INCOME (LOSS) BEFORE INCOME TAXES 2,834 3,621 890 (4,671) PROVISION FOR (BENEFIT FROM) INCOME TAXES 22,014 (1,389) 21,578 (3,964) NET INCOME (LOSS) ($19,180) $5,010 ($20,688) ($707) NET INCOME (LOSS) PER COMMON SHARE INFORMATION: Basic ($0.52) $0.14 ($0.57) ($0.02) Diluted ($0.52) $0.14 ($0.57) ($0.02) WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING: Basic 36,706 35,780 36,509 35,339 Diluted 36,706 36,288 36,509 35,339 Cash dividends declared per common share $0.09 $0.09 $0.27 $0.27 EPIQ SYSTEMS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands) September 30, December 31, 2015 2014 ASSETS: Cash and cash equivalents $12,616 $54,226 Trade accounts receivable, net 146,260 117,854 Property and equipment, net 80,493 70,579 Internally developed software, net 15,742 14,713 Goodwill 478,773 404,187 Other intangibles, net 49,964 29,605 Other 42,658 47,088 Total Assets $826,506 $738,252 LIABILITIES: Current liabilities, excluding debt $59,469 $53,395 Indebtedness 398,925 313,481 Other non-current liabilities 67,754 46,439 Total Equity 300,358 324,937 Total Liabilities and Equity $826,506 $738,252 EPIQ SYSTEMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands) Nine Months Ended September 30, 2015 2014 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss ($20,688) ($707) Non-cash adjustments to loss: Depreciation and amortization 41,376 37,118 Other, net 37,357 7,445 Changes in operating assets and liabilities, net Trade accounts receivable (13,413) 11,469 Other, net 2,164 (17,961) Net cash provided by operating activities 46,796 37,364 CASH FLOWS FROM INVESTING ACTIVITIES: Property and equipment; and internally developed software (22,449) (28,815) Cash paid for business acquisitions, net of cash acquired (124,550) (302) Other 110 597 Net cash used in investing activities (146,889) (28,520) CASH FLOWS FROM FINANCING ACTIVITIES: Net change in indebtedness 71,042 (8,942) Common stock repurchases (4,151) (3,982) Cash dividends paid (9,929) (9,544) Payment of acquisition-related liabilities (92) (4,963) Debt issuance costs (1,681) (837) Other, net 3,760 11,356 Net cash provided by (used in) financing activities 58,949 (16,912) Effect of exchange rate changes on cash (466) (137) NET DECREASE IN CASH AND CASH EQUIVALENTS ($41,610) ($8,205) EPIQ SYSTEMS, INC. RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA (Unaudited) (In thousands) Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 NET INCOME (LOSS) ($19,180) $5,010 ($20,688) ($707) Plus: Depreciation and amortization expense 15,619 12,877 41,375 37,118 Share-based compensation expense 3,557 703 10,483 4,979 Intangible asset impairment expense -- -- 1,162 -- Acquisition and related expense (1) 1,325 454 3,240 2,254 One-time technology expense (2) -- 639 -- 4,284 Expense related to financing, net (3) 5,331 3,788 14,825 12,425 Litigation (recovery) expense, net (4) 29 12 (475) 1,581 Timing of recognition of expense (5) -- -- (290) -- Reorganization expense (6) 479 1,230 2,451 13,152 (Gain) Loss on disposition of assets -- (175) (13) 176 Strategic review expense 530 527 2,209 527 Provision for (benefit from) income taxes 22,014 (1,389) 21,578 (3,964) 48,884 18,666 96,545 72,532 ADJUSTED EBITDA $29,704 $23,676 $75,857 $71,825 (1) Acquisition and related expense includes one-time costs associated with acquisitions and fair value adjustments to contingent consideration. (2) One-time technology related costs associated with security and consolidation of data centers from acquisitions. (3) Expense related to financing is net of interest income. (4) Litigation expense and recovery related to significant one-time matters. (5) Adjustment to match timing of expenses to be consistent with timing of GAAP revenue and recoveries for settlement administration matters. (6) Expenses primarily related to one-time charges for post-employment benefits. EPIQ SYSTEMS, INC. RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED NET INCOME (Unaudited) (In thousands, except per share data) Three months ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 NET INCOME (LOSS) ($19,180) $5,010 ($20,688) ($707) Plus (net of tax) (1) : Amortization of acquisition intangibles 3,499 1,910 7,996 5,682 Share-based compensation 2,134 421 6,290 2,987 Intangible asset impairment expense -- -- 697 -- Acquisition and related expense (2) 795 304 1,970 1,453 One-time technology expense (3) -- 383 -- 2,570 Loan fee amortization and write-off 279 217 1,272 1,117 Litigation (recovery) expense, net (4) 17 150 (7) 1,375 Timing of recognition of expense (5) -- -- (174) -- Reorganization expense (6) 287 738 1,470 7,891 (Gain) Loss on disposition of assets -- (104) (8) 106 Strategic review expense 318 316 1,325 316 Effective tax rate adjustment (7) 20,882 (2,837) 21,222 (2,095) 28,211 1,498 42,053 21,402 ADJUSTED NET INCOME $9,031 $6,508 $21,365 $20,695 ADJUSTED EARNINGS PER SHARE – DILUTED $0.24 $0.18 $0.58 $0.59 (1) Individual adjustments are calculated using a tax rate of 40%. (2) Acquisition and related expense includes one-time costs associated with acquisitions and fair value adjustments to contingent consideration. (3) One-time technology related costs associated with security and consolidation of data centers from acquisitions. (4) Litigation expense or recovery related to significant one-time matters. (5) Adjustment to match timing of expenses to be consistent with timing of GAAP revenue and recoveries for settlement administration matters. (6) Expenses primarily related to one-time charges for post-employment benefits. (7) The effective tax rate adjustment reflects a non-GAAP provision for income taxes at a tax rate of 40%. EPIQ SYSTEMS, INC. OPERATING REVENUE (Unaudited) (In thousands) Three months ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Technology $91,847 $69,139 $255,029 $228,831 Bankruptcy 21,047 20,538 58,758 61,793 Settlement Administration 18,431 14,278 55,850 45,002 Total Bankruptcy and Settlement Administration 39,478 34,816 114,608 106,795 TOTAL OPERATING REVENUE $131,325 $103,955 $369,637 $335,626 EPIQ SYSTEMS, INC. ADJUSTED EBITDA (Unaudited) (In thousands) Three months ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Technology $26,308 $20,487 $68,559 $63,322 Bankruptcy and Settlement Administration 13,938 12,675 36,119 38,529 Unallocated Corporate (1) (10,542) (9,486) (28,821) (30,026) TOTAL ADJUSTED EBITDA $29,704 $23,676 $75,857 $71,825 (1) Unallocated corporate adjusted EBITDA excludes expenses related to share-based compensation, impairment expense related to acquired intangible assets, acquisition and related expense, including fair value adjustments to contingent consideration, one-time technology expense, non-routine litigation expense or recovery, timing of recognition of expense, gain or loss on disposition of assets, strategic review expense, and one-time reorganization expense. EPIQ SYSTEMS, INC. CALCULATION OF NET LOSS PER SHARE AND DILUTED ADJUSTED EARNINGS PER SHARE (Unaudited) (In thousands, except per share data) Three months ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 NET INCOME (LOSS) ($19,180) $5,010 ($20,688) ($707) BASIC WEIGHTED AVERAGE SHARES 36,706 35,780 36,509 35,339 Adjustment to reflect share-based awards -- 508 -- -- DILUTED WEIGHTED AVERAGE SHARES 36,706 36,288 36,509 35,339 NET INCOME (LOSS) PER SHARE – DILUTED ($0.52) $0.14 ($0.57) ($0.02) ADJUSTED NET INCOME $9,031 $6,508 $21,365 $20,695 BASIC WEIGHTED AVERAGE SHARES 36,706 35,780 36,509 35,339 Adjustment to reflect share-based awards 349 508 486 -- DILUTED WEIGHTED AVERAGE SHARES(1) 37,055 36,288 36,995 35,339 ADJUSTED EARNINGS PER SHARE - DILUTED $0.24 $0.18 $0.58 $0.59 (1) Diluted weighted average shares outstanding for the three and nine months ended September 30, 2015 and 2014 include the dilutive impact of share-based awards due to adjusted net income reported for the respective periods. CONTACT: Investor Contacts Kelly Bailey Epiq Systems 913-621-9500 ir@epiqsystems.com Chris Eddy Catalyst Global 212-924-9800 epiq@catalyst-ir.com
- Launch of a full-service eDiscovery office in Frankfurt, including managed services through Iris Data Services, a comprehensive document review center, and data processing and hosting in a world-class data center.
