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T & K Futures and Options, Inc. Announces PFGBest Discount Silver and Gold Bullion Division

May 20, 2012 By Leave a Comment

T & K Futures and Options, Inc. Announces PFGBest Discount Silver and Gold Bullion Division










Port St. Lucie, FL (PRWEB) October 26, 2010

T & K Futures and Options, Inc. has expanded its product offerings to include gold and silver bullion. Obtain silver and gold eagles from the U.S. Mint, South African Gold Krugerrands, Canadian Gold Maple Leafs and Austrian Philharmonics from our new discount gold and silver bullion division. Investors have been flocking to gold and silver investments recently pushing prices to record highs.

Current investment demand for gold and silver bullion is most likely tied to the recent decline in the value of the U.S. dollar. Much of this devaluation can be tied to the U.S. Government’s quantitative easing formula which is being used to help prop up the financial system. Quantitative easing refers to the massive money printing regimen currently being pursued by the U.S. Treasury Department. Eventually, this should lead to massive inflation and gold and silver bullion is considered by many to be an excellent hedge against inflation. Visit http://www.tkfutures.com/buying_gold_bullion.htm to learn more about owning physical gold bullion.

Many other commodity markets are already showing signs of inflation such as the grain and food markets. Corn, soybeans and wheat futures prices recently hit two year highs. Sugar and cocoa futures prices hit 30 year highs earlier in the year. Cotton rallied to a futures price not seen since 1995 recently. Coffee futures prices hit 12 year highs lately as well. Food inflation may already be upon us and energy inflation seems to be coming next as crude oil prices continue to hold around $ 80 a barrel in spite of 27 year highs in inventories in the United States. Visit http://www.tkfutures.com/education.htm to learn more about the futures and options markets.

Silver bullion demand is also on the rise as silver is considered an inflationary hedge in the same way gold is. Silver also has many industrial uses in computers, cell phones, plasma televisions and many other electronic applications. Silver may be the better value than gold because gold is near all time highs, while silver futures prices would have to double from where they are currently to match the $ 50 an ounce level that it hit 30 years ago. Visit http://www.tkfutures.com/buying_silver_bullion.htm to learn more about silver.

The author of this article is a 17 year veteran of the gold and silver futures and options markets and the president of T & K Futures and Options, Inc. Visit http://www.tkfutures.com/silver.htm to learn more about silver and gold futures and options. Gold and silver bullion investing should be considered a high risk investment because they are highly volatile and have wide price swings on a daily basis. Futures, options and foreign exchange products carry significant risk of loss and only risk capital should be used. Pat performance is not indicative of future results.

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.









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Vocus Announces Results for Third Quarter 2010

May 19, 2012 By Leave a Comment

Vocus Announces Results for Third Quarter 2010













A leading provider of on-demand software for public relations management. Follow us on Twitter: @Vocus


Lanham, MD (PRWEB) October 26, 2010

Vocus, Inc. (NASDAQ: VOCS), a leading provider of on-demand software for public relations management, announced today financial results for the third quarter ended September 30, 2010.

“I am very pleased with the results for the third quarter and the continued acceleration in our business as evidenced by our strong top-line growth and record net adds,” said Rick Rudman, President and CEO of Vocus, Inc. “Non-GAAP revenue grew 19% for the quarter which represents our fifth consecutive quarter of accelerating growth. While we are very pleased with our financial results, perhaps more exciting is the demand we are seeing for our recently launched social media software which we believe underscores a fundamental shift in PR and marketing towards a more integrated approach focused on earned visibility and social networks. This is positioning us well for continued growth.”

Financial Highlights

Income Statement

    Non-GAAP revenue for the third quarter of 2010 was $ 25.1 million, a 19% increase over the same period last year. See Other Supplemental Information for further discussion of non-GAAP measures;
    GAAP revenue for the third quarter of 2010 was $ 24.7 million, a 17% increase over the same period last year;
    Non-GAAP income from operations for the third quarter of 2010 was $ 3.9 million compared to $ 4.0 million for the same period last year. Non-GAAP net income for the third quarter of 2010 was $ 4.1 million, or $ 0.21 per diluted share, compared to $ 3.5 million, or $ 0.17 per diluted share, for the same period last year;
    GAAP loss from operations for the third quarter of 2010 was $ (957,000), compared to GAAP income from operations of $ 160,000 for the same period last year. GAAP net loss for the third quarter of 2010 was $ (742,000), or $ (0.04) per diluted share, compared to $ (382,000), or $ (0.02) per diluted share, for the same period last year.

Balance Sheet and Other Financial Information

    Total deferred revenue as of September 30, 2010 was $ 47.6 million which does not include $ 475,000 of the unamortized non-GAAP acquisition related adjustment to deferred revenue;
    Cash from operations for the nine months ended September 30, 2010 was $ 12.0 million;
    Free cash flow for the nine months ended September 30, 2010 was $ 11.0 million. See Other Supplemental Information for further discussion of non-GAAP measures;
    Purchased 354,487 shares of common stock during the third quarter under the stock repurchase program at an aggregate cost of $ 5.2 million.

Recent Business Highlights


    Added a record 579 net new subscription customers during the quarter compared to 240 net new subscription customers added during the same period last year and ended the quarter with 7,752 total active subscription customers;
    Signed subscription agreements with new and existing customers including City of Gatlinburg, Clif Bar & Company, Dow Corning, Envergure, Groupe Volkswagen France, Hormel Foods, Make-A-Wish Foundation of America, MrsPinkelmeyer.com, PowerScout Sports, SunTrust Banks, U-Pack Moving & MoveBuilder, U.S. Department of Energy and World Travel and Tourism Council;
    Announced a partnership with LegalZoom to provide companies filing for incorporation using LegalZoom.com with a PRWeb news release in order to optimize search results and generate internet visibility;
    Expanded the distribution and visibility of PRWeb in the financial community through its partnership with FinancialContent by providing PRWeb’s premium news releases to its financial network of publishers and media outlets;
    Earned several corporate awards and distinctions including recognition by Deloitte as one of North America’s 500 fastest growing technology companies and inclusion in the Software 500, a ranking of the world’s largest software companies.

Guidance

Vocus is providing, for the first time, guidance for the fourth quarter and revising guidance for the full year 2010 based on information as of October 26, 2010:

    For the fourth quarter of 2010, non-GAAP revenue is expected to be in the range of approximately $ 25.9 million to $ 26.1 million. For the fourth quarter of 2010, GAAP revenue is expected to be in the range of approximately $ 25.6 million to $ 25.8 million. Non-GAAP EPS is expected to be in the range of $ 0.17 to $ 0.18 assuming an estimated non-GAAP weighted average 19.8 million diluted shares outstanding and an estimated non-GAAP effective tax rate of 0%. Stock-based compensation, amortization of intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs are expected to be $ 0.22 per share. GAAP EPS is expected to be in the range of $ (0.05) to $ (0.04) assuming an estimated weighted average 17.8 million basic and diluted shares outstanding;
    For the full year of 2010, non-GAAP revenue is expected to be in the range of $ 97.5 million to $ 97.7 million. For the full year of 2010, GAAP revenue is expected to be in the range of approximately $ 96.4 million to $ 96.6 million. Non-GAAP EPS is expected to be in the range of $ 0.69 to $ 0.70 assuming an estimated non-GAAP weighted average 19.8 million diluted shares outstanding and an estimated non-GAAP effective tax rate of 5%. Stock-based compensation, amortization of intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs are expected to be $ 0.90 per share. GAAP EPS is expected to be in the range of $ (0.21) to $ (0.20) assuming an estimated weighted average 17.9 million basic and diluted shares outstanding. Free cash flow is expected to range from $ 12.5 million to $ 13.5 million.
Conference Call Information

Vocus will discuss the financial results and business highlights of the third quarter 2010 in a conference call at 4:30 p.m. ET, or 1:30 p.m. PT, today. Investors are invited to listen to a live audio web cast of the conference call on the Investor Relations section of the Company’s website at http://onlinepressroom.net/vocus/ir/webcast/. A replay of the webcast will be available approximately one hour after the conclusion of the call and will remain available for 30 calendar days following the conference call. An audio replay of the conference call will also be available approximately two hours after the conclusion of the call. The audio replay will be available until November 2, 2010 at 11:59 p.m. ET and can be accessed by dialing (888) 203-1112 or (719) 457-0820 and entering conference number 4278790.

About Vocus, Inc.

Vocus, Inc. (NASDAQ: VOCS) is a leading provider of on-demand software for public relations management. Our web-based software suite helps organizations of all sizes to fundamentally change the way they communicate with both the media and the public, optimizing their public relations and increasing their ability to measure its impact. Our on-demand software addresses the critical functions of public relations including media relations, news distribution and news monitoring. We deliver our solutions over the Internet using a secure, scalable application and system architecture, which allows our customers to eliminate expensive up-front hardware and software costs and to quickly deploy and adopt our on-demand software. Vocus is used by more than 7,700 organizations worldwide and is available in seven languages. Vocus is based in Lanham, MD with offices in North America, Europe and Asia. For more information, please visit http://www.vocus.com or call (800) 345-5572.

This release contains “forward-looking” statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These are statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “expects,” “projects,” “anticipates,” “estimates,” “believes,” “intends,” “plans,” “should,” “seeks,” and similar expressions. This press release contains forward-looking statements relating to, among other things, Vocus’ expectations and assumptions concerning future financial performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual future results to differ materially from those projected or contemplated in the forward-looking statements. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in Vocus’ filings with the Securities and Exchange Commission.

The risks and uncertainties referred to above include, but are not limited to, risks associated with possible fluctuations in our operating results and rate of growth, our history of operating losses, interruptions or delays in our service or our Web hosting, our business model, breach of our security measures, the emerging market in which we operate, our relatively limited operating history, our ability to hire, retain and motivate our employees and manage our growth, competition, our ability to continue to release and gain customer acceptance of new and improved versions of our service, successful customer deployment and utilization of our services, fluctuations in the number of shares outstanding, our ability to integrate acquisitions, foreign currency exchange rates and interest rates.

 

 

Vocus, Inc. and Subsidiaries       Condensed Consolidated Balance Sheets    (dollars in thousands)   

December 31, 2009

  

September 30, 2010

               

Cash and cash equivalents

 $ 85,817 $ 87,493

Short-term investments

  17,851  5,683

Accounts receivable, net

  18,245  13,564

Current portion of deferred income taxes

  685  685

Other current assets

  1,753  2,831       124,351  110,256  1,001  -  4,666  5,609  3,980  7,811Goodwill  17,090  26,401Deferred income taxes, net of current portion   7,459  7,676Other assets  693  202      $ 159,240 $ 157,955                

Accounts payable and accrued expenses

 $ 6,771 $ 9,584  197  183  46,789  47,076       53,757  56,843  48  227  93  2,011  -  946

Deferred revenue, net of current portion

  961  517       54,859  60,544              199  201  149,279  159,373

Treasury stock

  (14,914)  (28,417)  305  20  (30,488)  (33,766)       104,381  97,411      $ 159,240 $ 157,955    

 

               

 

 

 

          $         21,042

$

24,701

$

62,532

$

70,753Cost of revenues 3,861 4,906 11,615 14,064     Gross profit 17,181 19,795 50,917 56,689Operating expenses:        Sales and marketing 10,189 12,341 29,895 36,236Research and development 1,150 1,561 3,445 4,216General and administrative 5,206 6,230 15,437 17,257Amortization of intangible assets         476 620 1,456 1,682     Total operating expenses 17,021 20,752 50,233 59,391Income (loss) from operations 160 (957) 684 (2,702)Other income (expense):        Interest and other income 52 52 382 130Interest expense (10) (10) (23) (30)     Income (loss) before provision (benefit) for income taxes 202 (915) 1,043 (2,602)Provision (benefit) for income taxes 584 (173) 2,246 676     Net loss$ (382)$ (742)$ (1,203)$ (3,278)     Net loss per share:        Basic$ (0.02)$ (0.04)$ (0.07)$ (0.18)Diluted $ (0.02)$ (0.04)$ (0.07)$ (0.18)                  Weighted average shares outstanding used in computing per share amounts:         Basic 18,092,595 17,836,960 18,021,737 17,950,905Diluted  18,092,595 17,836,960 18,021,737 17,950,905         

 

                

 

 

 

 Cash flows from operating activities:        Net loss

$

(382)

$

(742)

$

(1,203)

$

(3,278)Adjustments to reconcile net loss to net cash provided by operating activities:         Depreciation and amortization  878 1,225 2,697 3,150Excess tax benefits from equity awards (1,941) - (4,449) (727)Other non-cash charges, net 2,051 3,417 8,224 9,367

Changes in operating assets and liabilities

 2,049 (1,495) 7,600 3,536     Net cash provided by operating activities  2,655 2,405 12,869 12,048Cash flows from investing activities:         Business acquisitions, net of cash acquired - - - (8,921)

Net change in investments

 (904) 2,961 3,144 13,158Purchases of property, equipment and software, net (417) (236) (1,143) (1,393)

Software development costs

 (51) - (142) (414)     Net cash provided by (used in) investing activities  (1,372) 2,725 1,859 2,430Cash flows from financing activities:        Purchases of common stock  (10) (5,191) (4,131) (13,503)

Proceeds from exercise of stock options

 76 280 1,849 386Excess tax benefits from equity awards 1,941 - 4,449 727

Payments on notes payable and capital lease obligations

 (23) (63) (202) (260)     Net cash provided by (used in) financing activities  1,984 (4,974) 1,965 (12,650)Effect of exchange rate changes on cash and cash equivalents  (39) 357 (38) (152)     Net increase in cash and cash equivalents  3,228 513 16,655 1,676Cash and cash equivalents, beginning of period  78,856 86,980 65,429 85,817     Cash and cash equivalents, end of period $ 82,084$ 87,493$ 82,084$ 87,493     

 


Other Supplemental Information

We define non-GAAP income from operations as income from operations excluding stock-based compensation, amortization of acquired intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs. We define non-GAAP net income as net income excluding stock-based compensation, amortization of acquired intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs. Amortization of intangible assets recorded in connection with our acquisitions consist primarily of non-compete agreements, trade names, purchased technology and customer relationships that are not expected to be replaced when fully amortized, as a depreciable tangible asset might. Companies record stock-based compensation by applying varying valuation methodologies and subjective assumptions to different types of equity awards. Acquisition related expenses consist of costs incurred during the reporting period in connection with our acquired businesses. Adjustments to deferred revenue reflect the reductions in the fair value of the acquired company’s deferred revenue due to purchase accounting. Adjustments to contingent consideration reflect the changes in fair value as of each reporting date from the fair value of the contingent consideration recorded on the acquisition date. Management uses non-GAAP income from operations and non-GAAP net income to evaluate operating performance, to determine incentive compensation and to prepare operating budgets and determine the appropriate levels of capital investments. Management also believes the exclusion of stock-based compensation, amortization of acquired intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs allows management and investors to make meaningful comparisons between our operating results and those of other companies, as well as providing a consistent comparison of our relative historical financial performance. However, management believes that non-GAAP income from operations and non-GAAP net income are subject to material limitations since they may not be indicative of ongoing operating results.

We define free cash flow as cash flow from operations less net capital expenditures and capitalized software development costs plus the excess tax benefits from equity awards. Management considers free cash flow to be a liquidity measure which provides useful information to management and investors regarding our ability to generate cash from operations that is available for acquisitions and other investments. Management also uses free cash flow as a measure to evaluate performance and determine incentive compensation. Our definition of free cash flow may be different from definitions used by other companies.

Management compensates for the limitations in the use of non-GAAP financial measures by also utilizing GAAP financial measures and by providing investors with a detailed reconciliation between our GAAP and non-GAAP financial results. Investors are advised to carefully review and consider this information as well as the GAAP financial results that are disclosed in our SEC filings.

 

              

 

   Reconciliation of GAAP revenues to non-GAAP revenues:        GAAP revenues$ 21,042$ 24,701$ 62,532$ 70,753Effect of acquisition related adjustments to deferred revenue - 400 - 800     Non-GAAP revenues$ 21,042$ 25,101$ 62,532$ 71,553              Reconciliation of GAAP income (loss) from operations to non-GAAP income from operations:         

Income (loss) from operations

$

160

$

(957)

$

684

$

(2,702)Effect of acquisition related adjustments to deferred revenue - 400 - 800Stock-based compensation  3,357 3,237 9,546 9,419Amortization of intangible assets 

476

 

669

 1,456 1,768Fair value adjustments to contingent consideration - 481 - 481Acquisition related expenses - 25 - 1,013     Non-GAAP income from operations$ 3,993$ 3,855$ 11,686$ 10,779              Reconciliation of GAAP net loss to non-GAAP net income:         Net loss$ (382)$ (742)$ (1,203)$ (3,278)Effect of acquisition related adjustments to deferred revenue - 400 - 800Stock-based compensation  3,357 3,237 9,546 9,419Amortization of intangible assets 476 

669

 1,456 1,768Fair value adjustments to contingent consideration - 481 - 481Acquisition related expenses - 25 - 1,013     Non-GAAP net income$ 3,451$ 4,070$ 9,799$ 10,203              Non-GAAP net income per share:         Non-GAAP diluted $ 0.17$ 0.21$ 0.50$ 0.52         Weighted average shares outstanding used in computing per share amounts:         Non-GAAP diluted 19,771,096 19,716,033 19,567,328 19,805,972         Reconciliation of GAAP diluted weighted average shares outstanding to non-GAAP diluted weighted average shares outstanding:         Diluted weighted average shares outstanding 18,092,595 17,836,960 18,021,737 17,950,905Treasury stock effect of outstanding equity securities and effect of stock-based compensation 1,678,501 1,879,073 1,545,591 1,855,067     Non-GAAP diluted weighted average shares outstanding  19,771,096 19,716,033 19,567,328 19,805,972     Supplemental information of stock-based compensation included in:         Cost of revenues $ 398$ 318$ 1,141$ 1,248Sales and marketing  1,025 954 2,874 2,368Research and development  256 363 727 1,154General and administrative  1,678 1,602 4,804 4,649     Total stock-based compensation$ 3,357$ 3,237$ 9,546$ 9,419     Reconciliation of cash flow from operations to free cash flow:         Net cash provided by operating activities$ 2,655$ 2,405$ 12,869$ 12,048Purchases of property, equipment and software, net (417) (236) (1,143) (1,393)Software development costs (51) - (142) (414)Excess tax benefits from equity awards 1,941 - 4,449 727     Free cash flow$ 4,128$ 2,169$ 16,033$ 10,968     

 


# # #











Attachments


































Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.









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Vocus Announces Results for Third Quarter 2010

May 19, 2012 By Leave a Comment

Vocus Announces Results for Third Quarter 2010













A leading provider of on-demand software for public relations management. Follow us on Twitter: @Vocus


Lanham, MD (PRWEB) October 26, 2010

Vocus, Inc. (NASDAQ: VOCS), a leading provider of on-demand software for public relations management, announced today financial results for the third quarter ended September 30, 2010.

“I am very pleased with the results for the third quarter and the continued acceleration in our business as evidenced by our strong top-line growth and record net adds,” said Rick Rudman, President and CEO of Vocus, Inc. “Non-GAAP revenue grew 19% for the quarter which represents our fifth consecutive quarter of accelerating growth. While we are very pleased with our financial results, perhaps more exciting is the demand we are seeing for our recently launched social media software which we believe underscores a fundamental shift in PR and marketing towards a more integrated approach focused on earned visibility and social networks. This is positioning us well for continued growth.”

Financial Highlights

Income Statement

    Non-GAAP revenue for the third quarter of 2010 was $ 25.1 million, a 19% increase over the same period last year. See Other Supplemental Information for further discussion of non-GAAP measures;
    GAAP revenue for the third quarter of 2010 was $ 24.7 million, a 17% increase over the same period last year;
    Non-GAAP income from operations for the third quarter of 2010 was $ 3.9 million compared to $ 4.0 million for the same period last year. Non-GAAP net income for the third quarter of 2010 was $ 4.1 million, or $ 0.21 per diluted share, compared to $ 3.5 million, or $ 0.17 per diluted share, for the same period last year;
    GAAP loss from operations for the third quarter of 2010 was $ (957,000), compared to GAAP income from operations of $ 160,000 for the same period last year. GAAP net loss for the third quarter of 2010 was $ (742,000), or $ (0.04) per diluted share, compared to $ (382,000), or $ (0.02) per diluted share, for the same period last year.

Balance Sheet and Other Financial Information

    Total deferred revenue as of September 30, 2010 was $ 47.6 million which does not include $ 475,000 of the unamortized non-GAAP acquisition related adjustment to deferred revenue;
    Cash from operations for the nine months ended September 30, 2010 was $ 12.0 million;
    Free cash flow for the nine months ended September 30, 2010 was $ 11.0 million. See Other Supplemental Information for further discussion of non-GAAP measures;
    Purchased 354,487 shares of common stock during the third quarter under the stock repurchase program at an aggregate cost of $ 5.2 million.

Recent Business Highlights


    Added a record 579 net new subscription customers during the quarter compared to 240 net new subscription customers added during the same period last year and ended the quarter with 7,752 total active subscription customers;
    Signed subscription agreements with new and existing customers including City of Gatlinburg, Clif Bar & Company, Dow Corning, Envergure, Groupe Volkswagen France, Hormel Foods, Make-A-Wish Foundation of America, MrsPinkelmeyer.com, PowerScout Sports, SunTrust Banks, U-Pack Moving & MoveBuilder, U.S. Department of Energy and World Travel and Tourism Council;
    Announced a partnership with LegalZoom to provide companies filing for incorporation using LegalZoom.com with a PRWeb news release in order to optimize search results and generate internet visibility;
    Expanded the distribution and visibility of PRWeb in the financial community through its partnership with FinancialContent by providing PRWeb’s premium news releases to its financial network of publishers and media outlets;
    Earned several corporate awards and distinctions including recognition by Deloitte as one of North America’s 500 fastest growing technology companies and inclusion in the Software 500, a ranking of the world’s largest software companies.

Guidance

Vocus is providing, for the first time, guidance for the fourth quarter and revising guidance for the full year 2010 based on information as of October 26, 2010:

    For the fourth quarter of 2010, non-GAAP revenue is expected to be in the range of approximately $ 25.9 million to $ 26.1 million. For the fourth quarter of 2010, GAAP revenue is expected to be in the range of approximately $ 25.6 million to $ 25.8 million. Non-GAAP EPS is expected to be in the range of $ 0.17 to $ 0.18 assuming an estimated non-GAAP weighted average 19.8 million diluted shares outstanding and an estimated non-GAAP effective tax rate of 0%. Stock-based compensation, amortization of intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs are expected to be $ 0.22 per share. GAAP EPS is expected to be in the range of $ (0.05) to $ (0.04) assuming an estimated weighted average 17.8 million basic and diluted shares outstanding;
    For the full year of 2010, non-GAAP revenue is expected to be in the range of $ 97.5 million to $ 97.7 million. For the full year of 2010, GAAP revenue is expected to be in the range of approximately $ 96.4 million to $ 96.6 million. Non-GAAP EPS is expected to be in the range of $ 0.69 to $ 0.70 assuming an estimated non-GAAP weighted average 19.8 million diluted shares outstanding and an estimated non-GAAP effective tax rate of 5%. Stock-based compensation, amortization of intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs are expected to be $ 0.90 per share. GAAP EPS is expected to be in the range of $ (0.21) to $ (0.20) assuming an estimated weighted average 17.9 million basic and diluted shares outstanding. Free cash flow is expected to range from $ 12.5 million to $ 13.5 million.
Conference Call Information

Vocus will discuss the financial results and business highlights of the third quarter 2010 in a conference call at 4:30 p.m. ET, or 1:30 p.m. PT, today. Investors are invited to listen to a live audio web cast of the conference call on the Investor Relations section of the Company’s website at http://onlinepressroom.net/vocus/ir/webcast/. A replay of the webcast will be available approximately one hour after the conclusion of the call and will remain available for 30 calendar days following the conference call. An audio replay of the conference call will also be available approximately two hours after the conclusion of the call. The audio replay will be available until November 2, 2010 at 11:59 p.m. ET and can be accessed by dialing (888) 203-1112 or (719) 457-0820 and entering conference number 4278790.

About Vocus, Inc.

Vocus, Inc. (NASDAQ: VOCS) is a leading provider of on-demand software for public relations management. Our web-based software suite helps organizations of all sizes to fundamentally change the way they communicate with both the media and the public, optimizing their public relations and increasing their ability to measure its impact. Our on-demand software addresses the critical functions of public relations including media relations, news distribution and news monitoring. We deliver our solutions over the Internet using a secure, scalable application and system architecture, which allows our customers to eliminate expensive up-front hardware and software costs and to quickly deploy and adopt our on-demand software. Vocus is used by more than 7,700 organizations worldwide and is available in seven languages. Vocus is based in Lanham, MD with offices in North America, Europe and Asia. For more information, please visit http://www.vocus.com or call (800) 345-5572.

This release contains “forward-looking” statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These are statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “expects,” “projects,” “anticipates,” “estimates,” “believes,” “intends,” “plans,” “should,” “seeks,” and similar expressions. This press release contains forward-looking statements relating to, among other things, Vocus’ expectations and assumptions concerning future financial performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual future results to differ materially from those projected or contemplated in the forward-looking statements. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in Vocus’ filings with the Securities and Exchange Commission.

The risks and uncertainties referred to above include, but are not limited to, risks associated with possible fluctuations in our operating results and rate of growth, our history of operating losses, interruptions or delays in our service or our Web hosting, our business model, breach of our security measures, the emerging market in which we operate, our relatively limited operating history, our ability to hire, retain and motivate our employees and manage our growth, competition, our ability to continue to release and gain customer acceptance of new and improved versions of our service, successful customer deployment and utilization of our services, fluctuations in the number of shares outstanding, our ability to integrate acquisitions, foreign currency exchange rates and interest rates.

 

 

Vocus, Inc. and Subsidiaries       Condensed Consolidated Balance Sheets    (dollars in thousands)   

December 31, 2009

  

September 30, 2010

               

Cash and cash equivalents

 $ 85,817 $ 87,493

Short-term investments

  17,851  5,683

Accounts receivable, net

  18,245  13,564

Current portion of deferred income taxes

  685  685

Other current assets

  1,753  2,831       124,351  110,256  1,001  -  4,666  5,609  3,980  7,811Goodwill  17,090  26,401Deferred income taxes, net of current portion   7,459  7,676Other assets  693  202      $ 159,240 $ 157,955                

Accounts payable and accrued expenses

 $ 6,771 $ 9,584  197  183  46,789  47,076       53,757  56,843  48  227  93  2,011  -  946

Deferred revenue, net of current portion

  961  517       54,859  60,544              199  201  149,279  159,373

Treasury stock

  (14,914)  (28,417)  305  20  (30,488)  (33,766)       104,381  97,411      $ 159,240 $ 157,955    

 

               

 

 

 

          $         21,042

$

24,701

$

62,532

$

70,753Cost of revenues 3,861 4,906 11,615 14,064     Gross profit 17,181 19,795 50,917 56,689Operating expenses:        Sales and marketing 10,189 12,341 29,895 36,236Research and development 1,150 1,561 3,445 4,216General and administrative 5,206 6,230 15,437 17,257Amortization of intangible assets         476 620 1,456 1,682     Total operating expenses 17,021 20,752 50,233 59,391Income (loss) from operations 160 (957) 684 (2,702)Other income (expense):        Interest and other income 52 52 382 130Interest expense (10) (10) (23) (30)     Income (loss) before provision (benefit) for income taxes 202 (915) 1,043 (2,602)Provision (benefit) for income taxes 584 (173) 2,246 676     Net loss$ (382)$ (742)$ (1,203)$ (3,278)     Net loss per share:        Basic$ (0.02)$ (0.04)$ (0.07)$ (0.18)Diluted $ (0.02)$ (0.04)$ (0.07)$ (0.18)                  Weighted average shares outstanding used in computing per share amounts:         Basic 18,092,595 17,836,960 18,021,737 17,950,905Diluted  18,092,595 17,836,960 18,021,737 17,950,905         

 

                

 

 

 

 Cash flows from operating activities:        Net loss

$

(382)

$

(742)

$

(1,203)

$

(3,278)Adjustments to reconcile net loss to net cash provided by operating activities:         Depreciation and amortization  878 1,225 2,697 3,150Excess tax benefits from equity awards (1,941) - (4,449) (727)Other non-cash charges, net 2,051 3,417 8,224 9,367

Changes in operating assets and liabilities

 2,049 (1,495) 7,600 3,536     Net cash provided by operating activities  2,655 2,405 12,869 12,048Cash flows from investing activities:         Business acquisitions, net of cash acquired - - - (8,921)

Net change in investments

 (904) 2,961 3,144 13,158Purchases of property, equipment and software, net (417) (236) (1,143) (1,393)

Software development costs

 (51) - (142) (414)     Net cash provided by (used in) investing activities  (1,372) 2,725 1,859 2,430Cash flows from financing activities:        Purchases of common stock  (10) (5,191) (4,131) (13,503)

Proceeds from exercise of stock options

 76 280 1,849 386Excess tax benefits from equity awards 1,941 - 4,449 727

Payments on notes payable and capital lease obligations

 (23) (63) (202) (260)     Net cash provided by (used in) financing activities  1,984 (4,974) 1,965 (12,650)Effect of exchange rate changes on cash and cash equivalents  (39) 357 (38) (152)     Net increase in cash and cash equivalents  3,228 513 16,655 1,676Cash and cash equivalents, beginning of period  78,856 86,980 65,429 85,817     Cash and cash equivalents, end of period $ 82,084$ 87,493$ 82,084$ 87,493     

 


Other Supplemental Information

We define non-GAAP income from operations as income from operations excluding stock-based compensation, amortization of acquired intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs. We define non-GAAP net income as net income excluding stock-based compensation, amortization of acquired intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs. Amortization of intangible assets recorded in connection with our acquisitions consist primarily of non-compete agreements, trade names, purchased technology and customer relationships that are not expected to be replaced when fully amortized, as a depreciable tangible asset might. Companies record stock-based compensation by applying varying valuation methodologies and subjective assumptions to different types of equity awards. Acquisition related expenses consist of costs incurred during the reporting period in connection with our acquired businesses. Adjustments to deferred revenue reflect the reductions in the fair value of the acquired company’s deferred revenue due to purchase accounting. Adjustments to contingent consideration reflect the changes in fair value as of each reporting date from the fair value of the contingent consideration recorded on the acquisition date. Management uses non-GAAP income from operations and non-GAAP net income to evaluate operating performance, to determine incentive compensation and to prepare operating budgets and determine the appropriate levels of capital investments. Management also believes the exclusion of stock-based compensation, amortization of acquired intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs allows management and investors to make meaningful comparisons between our operating results and those of other companies, as well as providing a consistent comparison of our relative historical financial performance. However, management believes that non-GAAP income from operations and non-GAAP net income are subject to material limitations since they may not be indicative of ongoing operating results.

We define free cash flow as cash flow from operations less net capital expenditures and capitalized software development costs plus the excess tax benefits from equity awards. Management considers free cash flow to be a liquidity measure which provides useful information to management and investors regarding our ability to generate cash from operations that is available for acquisitions and other investments. Management also uses free cash flow as a measure to evaluate performance and determine incentive compensation. Our definition of free cash flow may be different from definitions used by other companies.

Management compensates for the limitations in the use of non-GAAP financial measures by also utilizing GAAP financial measures and by providing investors with a detailed reconciliation between our GAAP and non-GAAP financial results. Investors are advised to carefully review and consider this information as well as the GAAP financial results that are disclosed in our SEC filings.

 

              

 

   Reconciliation of GAAP revenues to non-GAAP revenues:        GAAP revenues$ 21,042$ 24,701$ 62,532$ 70,753Effect of acquisition related adjustments to deferred revenue - 400 - 800     Non-GAAP revenues$ 21,042$ 25,101$ 62,532$ 71,553              Reconciliation of GAAP income (loss) from operations to non-GAAP income from operations:         

Income (loss) from operations

$

160

$

(957)

$

684

$

(2,702)Effect of acquisition related adjustments to deferred revenue - 400 - 800Stock-based compensation  3,357 3,237 9,546 9,419Amortization of intangible assets 

476

 

669

 1,456 1,768Fair value adjustments to contingent consideration - 481 - 481Acquisition related expenses - 25 - 1,013     Non-GAAP income from operations$ 3,993$ 3,855$ 11,686$ 10,779              Reconciliation of GAAP net loss to non-GAAP net income:         Net loss$ (382)$ (742)$ (1,203)$ (3,278)Effect of acquisition related adjustments to deferred revenue - 400 - 800Stock-based compensation  3,357 3,237 9,546 9,419Amortization of intangible assets 476 

669

 1,456 1,768Fair value adjustments to contingent consideration - 481 - 481Acquisition related expenses - 25 - 1,013     Non-GAAP net income$ 3,451$ 4,070$ 9,799$ 10,203              Non-GAAP net income per share:         Non-GAAP diluted $ 0.17$ 0.21$ 0.50$ 0.52         Weighted average shares outstanding used in computing per share amounts:         Non-GAAP diluted 19,771,096 19,716,033 19,567,328 19,805,972         Reconciliation of GAAP diluted weighted average shares outstanding to non-GAAP diluted weighted average shares outstanding:         Diluted weighted average shares outstanding 18,092,595 17,836,960 18,021,737 17,950,905Treasury stock effect of outstanding equity securities and effect of stock-based compensation 1,678,501 1,879,073 1,545,591 1,855,067     Non-GAAP diluted weighted average shares outstanding  19,771,096 19,716,033 19,567,328 19,805,972     Supplemental information of stock-based compensation included in:         Cost of revenues $ 398$ 318$ 1,141$ 1,248Sales and marketing  1,025 954 2,874 2,368Research and development  256 363 727 1,154General and administrative  1,678 1,602 4,804 4,649     Total stock-based compensation$ 3,357$ 3,237$ 9,546$ 9,419     Reconciliation of cash flow from operations to free cash flow:         Net cash provided by operating activities$ 2,655$ 2,405$ 12,869$ 12,048Purchases of property, equipment and software, net (417) (236) (1,143) (1,393)Software development costs (51) - (142) (414)Excess tax benefits from equity awards 1,941 - 4,449 727     Free cash flow$ 4,128$ 2,169$ 16,033$ 10,968     

 


# # #











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Vocus Announces Results for Third Quarter 2010

May 19, 2012 By Leave a Comment

Vocus Announces Results for Third Quarter 2010













A leading provider of on-demand software for public relations management. Follow us on Twitter: @Vocus


Lanham, MD (PRWEB) October 26, 2010

Vocus, Inc. (NASDAQ: VOCS), a leading provider of on-demand software for public relations management, announced today financial results for the third quarter ended September 30, 2010.

“I am very pleased with the results for the third quarter and the continued acceleration in our business as evidenced by our strong top-line growth and record net adds,” said Rick Rudman, President and CEO of Vocus, Inc. “Non-GAAP revenue grew 19% for the quarter which represents our fifth consecutive quarter of accelerating growth. While we are very pleased with our financial results, perhaps more exciting is the demand we are seeing for our recently launched social media software which we believe underscores a fundamental shift in PR and marketing towards a more integrated approach focused on earned visibility and social networks. This is positioning us well for continued growth.”

Financial Highlights

Income Statement

    Non-GAAP revenue for the third quarter of 2010 was $ 25.1 million, a 19% increase over the same period last year. See Other Supplemental Information for further discussion of non-GAAP measures;
    GAAP revenue for the third quarter of 2010 was $ 24.7 million, a 17% increase over the same period last year;
    Non-GAAP income from operations for the third quarter of 2010 was $ 3.9 million compared to $ 4.0 million for the same period last year. Non-GAAP net income for the third quarter of 2010 was $ 4.1 million, or $ 0.21 per diluted share, compared to $ 3.5 million, or $ 0.17 per diluted share, for the same period last year;
    GAAP loss from operations for the third quarter of 2010 was $ (957,000), compared to GAAP income from operations of $ 160,000 for the same period last year. GAAP net loss for the third quarter of 2010 was $ (742,000), or $ (0.04) per diluted share, compared to $ (382,000), or $ (0.02) per diluted share, for the same period last year.

Balance Sheet and Other Financial Information

    Total deferred revenue as of September 30, 2010 was $ 47.6 million which does not include $ 475,000 of the unamortized non-GAAP acquisition related adjustment to deferred revenue;
    Cash from operations for the nine months ended September 30, 2010 was $ 12.0 million;
    Free cash flow for the nine months ended September 30, 2010 was $ 11.0 million. See Other Supplemental Information for further discussion of non-GAAP measures;
    Purchased 354,487 shares of common stock during the third quarter under the stock repurchase program at an aggregate cost of $ 5.2 million.

Recent Business Highlights


    Added a record 579 net new subscription customers during the quarter compared to 240 net new subscription customers added during the same period last year and ended the quarter with 7,752 total active subscription customers;
    Signed subscription agreements with new and existing customers including City of Gatlinburg, Clif Bar & Company, Dow Corning, Envergure, Groupe Volkswagen France, Hormel Foods, Make-A-Wish Foundation of America, MrsPinkelmeyer.com, PowerScout Sports, SunTrust Banks, U-Pack Moving & MoveBuilder, U.S. Department of Energy and World Travel and Tourism Council;
    Announced a partnership with LegalZoom to provide companies filing for incorporation using LegalZoom.com with a PRWeb news release in order to optimize search results and generate internet visibility;
    Expanded the distribution and visibility of PRWeb in the financial community through its partnership with FinancialContent by providing PRWeb’s premium news releases to its financial network of publishers and media outlets;
    Earned several corporate awards and distinctions including recognition by Deloitte as one of North America’s 500 fastest growing technology companies and inclusion in the Software 500, a ranking of the world’s largest software companies.

Guidance

Vocus is providing, for the first time, guidance for the fourth quarter and revising guidance for the full year 2010 based on information as of October 26, 2010:

    For the fourth quarter of 2010, non-GAAP revenue is expected to be in the range of approximately $ 25.9 million to $ 26.1 million. For the fourth quarter of 2010, GAAP revenue is expected to be in the range of approximately $ 25.6 million to $ 25.8 million. Non-GAAP EPS is expected to be in the range of $ 0.17 to $ 0.18 assuming an estimated non-GAAP weighted average 19.8 million diluted shares outstanding and an estimated non-GAAP effective tax rate of 0%. Stock-based compensation, amortization of intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs are expected to be $ 0.22 per share. GAAP EPS is expected to be in the range of $ (0.05) to $ (0.04) assuming an estimated weighted average 17.8 million basic and diluted shares outstanding;
    For the full year of 2010, non-GAAP revenue is expected to be in the range of $ 97.5 million to $ 97.7 million. For the full year of 2010, GAAP revenue is expected to be in the range of approximately $ 96.4 million to $ 96.6 million. Non-GAAP EPS is expected to be in the range of $ 0.69 to $ 0.70 assuming an estimated non-GAAP weighted average 19.8 million diluted shares outstanding and an estimated non-GAAP effective tax rate of 5%. Stock-based compensation, amortization of intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs are expected to be $ 0.90 per share. GAAP EPS is expected to be in the range of $ (0.21) to $ (0.20) assuming an estimated weighted average 17.9 million basic and diluted shares outstanding. Free cash flow is expected to range from $ 12.5 million to $ 13.5 million.
Conference Call Information

Vocus will discuss the financial results and business highlights of the third quarter 2010 in a conference call at 4:30 p.m. ET, or 1:30 p.m. PT, today. Investors are invited to listen to a live audio web cast of the conference call on the Investor Relations section of the Company’s website at http://onlinepressroom.net/vocus/ir/webcast/. A replay of the webcast will be available approximately one hour after the conclusion of the call and will remain available for 30 calendar days following the conference call. An audio replay of the conference call will also be available approximately two hours after the conclusion of the call. The audio replay will be available until November 2, 2010 at 11:59 p.m. ET and can be accessed by dialing (888) 203-1112 or (719) 457-0820 and entering conference number 4278790.

About Vocus, Inc.

Vocus, Inc. (NASDAQ: VOCS) is a leading provider of on-demand software for public relations management. Our web-based software suite helps organizations of all sizes to fundamentally change the way they communicate with both the media and the public, optimizing their public relations and increasing their ability to measure its impact. Our on-demand software addresses the critical functions of public relations including media relations, news distribution and news monitoring. We deliver our solutions over the Internet using a secure, scalable application and system architecture, which allows our customers to eliminate expensive up-front hardware and software costs and to quickly deploy and adopt our on-demand software. Vocus is used by more than 7,700 organizations worldwide and is available in seven languages. Vocus is based in Lanham, MD with offices in North America, Europe and Asia. For more information, please visit http://www.vocus.com or call (800) 345-5572.

This release contains “forward-looking” statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These are statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “expects,” “projects,” “anticipates,” “estimates,” “believes,” “intends,” “plans,” “should,” “seeks,” and similar expressions. This press release contains forward-looking statements relating to, among other things, Vocus’ expectations and assumptions concerning future financial performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual future results to differ materially from those projected or contemplated in the forward-looking statements. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in Vocus’ filings with the Securities and Exchange Commission.

The risks and uncertainties referred to above include, but are not limited to, risks associated with possible fluctuations in our operating results and rate of growth, our history of operating losses, interruptions or delays in our service or our Web hosting, our business model, breach of our security measures, the emerging market in which we operate, our relatively limited operating history, our ability to hire, retain and motivate our employees and manage our growth, competition, our ability to continue to release and gain customer acceptance of new and improved versions of our service, successful customer deployment and utilization of our services, fluctuations in the number of shares outstanding, our ability to integrate acquisitions, foreign currency exchange rates and interest rates.

 

 

Vocus, Inc. and Subsidiaries       Condensed Consolidated Balance Sheets    (dollars in thousands)   

December 31, 2009

  

September 30, 2010

               

Cash and cash equivalents

 $ 85,817 $ 87,493

Short-term investments

  17,851  5,683

Accounts receivable, net

  18,245  13,564

Current portion of deferred income taxes

  685  685

Other current assets

  1,753  2,831       124,351  110,256  1,001  -  4,666  5,609  3,980  7,811Goodwill  17,090  26,401Deferred income taxes, net of current portion   7,459  7,676Other assets  693  202      $ 159,240 $ 157,955                

Accounts payable and accrued expenses

 $ 6,771 $ 9,584  197  183  46,789  47,076       53,757  56,843  48  227  93  2,011  -  946

Deferred revenue, net of current portion

  961  517       54,859  60,544              199  201  149,279  159,373

Treasury stock

  (14,914)  (28,417)  305  20  (30,488)  (33,766)       104,381  97,411      $ 159,240 $ 157,955    

 

               

 

 

 

          $         21,042

$

24,701

$

62,532

$

70,753Cost of revenues 3,861 4,906 11,615 14,064     Gross profit 17,181 19,795 50,917 56,689Operating expenses:        Sales and marketing 10,189 12,341 29,895 36,236Research and development 1,150 1,561 3,445 4,216General and administrative 5,206 6,230 15,437 17,257Amortization of intangible assets         476 620 1,456 1,682     Total operating expenses 17,021 20,752 50,233 59,391Income (loss) from operations 160 (957) 684 (2,702)Other income (expense):        Interest and other income 52 52 382 130Interest expense (10) (10) (23) (30)     Income (loss) before provision (benefit) for income taxes 202 (915) 1,043 (2,602)Provision (benefit) for income taxes 584 (173) 2,246 676     Net loss$ (382)$ (742)$ (1,203)$ (3,278)     Net loss per share:        Basic$ (0.02)$ (0.04)$ (0.07)$ (0.18)Diluted $ (0.02)$ (0.04)$ (0.07)$ (0.18)                  Weighted average shares outstanding used in computing per share amounts:         Basic 18,092,595 17,836,960 18,021,737 17,950,905Diluted  18,092,595 17,836,960 18,021,737 17,950,905         

 

                

 

 

 

 Cash flows from operating activities:        Net loss

$

(382)

$

(742)

$

(1,203)

$

(3,278)Adjustments to reconcile net loss to net cash provided by operating activities:         Depreciation and amortization  878 1,225 2,697 3,150Excess tax benefits from equity awards (1,941) - (4,449) (727)Other non-cash charges, net 2,051 3,417 8,224 9,367

Changes in operating assets and liabilities

 2,049 (1,495) 7,600 3,536     Net cash provided by operating activities  2,655 2,405 12,869 12,048Cash flows from investing activities:         Business acquisitions, net of cash acquired - - - (8,921)

Net change in investments

 (904) 2,961 3,144 13,158Purchases of property, equipment and software, net (417) (236) (1,143) (1,393)

Software development costs

 (51) - (142) (414)     Net cash provided by (used in) investing activities  (1,372) 2,725 1,859 2,430Cash flows from financing activities:        Purchases of common stock  (10) (5,191) (4,131) (13,503)

Proceeds from exercise of stock options

 76 280 1,849 386Excess tax benefits from equity awards 1,941 - 4,449 727

Payments on notes payable and capital lease obligations

 (23) (63) (202) (260)     Net cash provided by (used in) financing activities  1,984 (4,974) 1,965 (12,650)Effect of exchange rate changes on cash and cash equivalents  (39) 357 (38) (152)     Net increase in cash and cash equivalents  3,228 513 16,655 1,676Cash and cash equivalents, beginning of period  78,856 86,980 65,429 85,817     Cash and cash equivalents, end of period $ 82,084$ 87,493$ 82,084$ 87,493     

 


Other Supplemental Information

We define non-GAAP income from operations as income from operations excluding stock-based compensation, amortization of acquired intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs. We define non-GAAP net income as net income excluding stock-based compensation, amortization of acquired intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs. Amortization of intangible assets recorded in connection with our acquisitions consist primarily of non-compete agreements, trade names, purchased technology and customer relationships that are not expected to be replaced when fully amortized, as a depreciable tangible asset might. Companies record stock-based compensation by applying varying valuation methodologies and subjective assumptions to different types of equity awards. Acquisition related expenses consist of costs incurred during the reporting period in connection with our acquired businesses. Adjustments to deferred revenue reflect the reductions in the fair value of the acquired company’s deferred revenue due to purchase accounting. Adjustments to contingent consideration reflect the changes in fair value as of each reporting date from the fair value of the contingent consideration recorded on the acquisition date. Management uses non-GAAP income from operations and non-GAAP net income to evaluate operating performance, to determine incentive compensation and to prepare operating budgets and determine the appropriate levels of capital investments. Management also believes the exclusion of stock-based compensation, amortization of acquired intangible assets, acquisition related expenses, the effect of adjustments to deferred revenue related to purchase accounting and adjustments to the fair value of contingent consideration for earn-outs allows management and investors to make meaningful comparisons between our operating results and those of other companies, as well as providing a consistent comparison of our relative historical financial performance. However, management believes that non-GAAP income from operations and non-GAAP net income are subject to material limitations since they may not be indicative of ongoing operating results.

We define free cash flow as cash flow from operations less net capital expenditures and capitalized software development costs plus the excess tax benefits from equity awards. Management considers free cash flow to be a liquidity measure which provides useful information to management and investors regarding our ability to generate cash from operations that is available for acquisitions and other investments. Management also uses free cash flow as a measure to evaluate performance and determine incentive compensation. Our definition of free cash flow may be different from definitions used by other companies.

Management compensates for the limitations in the use of non-GAAP financial measures by also utilizing GAAP financial measures and by providing investors with a detailed reconciliation between our GAAP and non-GAAP financial results. Investors are advised to carefully review and consider this information as well as the GAAP financial results that are disclosed in our SEC filings.

 

              

 

   Reconciliation of GAAP revenues to non-GAAP revenues:        GAAP revenues$ 21,042$ 24,701$ 62,532$ 70,753Effect of acquisition related adjustments to deferred revenue - 400 - 800     Non-GAAP revenues$ 21,042$ 25,101$ 62,532$ 71,553              Reconciliation of GAAP income (loss) from operations to non-GAAP income from operations:         

Income (loss) from operations

$

160

$

(957)

$

684

$

(2,702)Effect of acquisition related adjustments to deferred revenue - 400 - 800Stock-based compensation  3,357 3,237 9,546 9,419Amortization of intangible assets 

476

 

669

 1,456 1,768Fair value adjustments to contingent consideration - 481 - 481Acquisition related expenses - 25 - 1,013     Non-GAAP income from operations$ 3,993$ 3,855$ 11,686$ 10,779              Reconciliation of GAAP net loss to non-GAAP net income:         Net loss$ (382)$ (742)$ (1,203)$ (3,278)Effect of acquisition related adjustments to deferred revenue - 400 - 800Stock-based compensation  3,357 3,237 9,546 9,419Amortization of intangible assets 476 

669

 1,456 1,768Fair value adjustments to contingent consideration - 481 - 481Acquisition related expenses - 25 - 1,013     Non-GAAP net income$ 3,451$ 4,070$ 9,799$ 10,203              Non-GAAP net income per share:         Non-GAAP diluted $ 0.17$ 0.21$ 0.50$ 0.52         Weighted average shares outstanding used in computing per share amounts:         Non-GAAP diluted 19,771,096 19,716,033 19,567,328 19,805,972         Reconciliation of GAAP diluted weighted average shares outstanding to non-GAAP diluted weighted average shares outstanding:         Diluted weighted average shares outstanding 18,092,595 17,836,960 18,021,737 17,950,905Treasury stock effect of outstanding equity securities and effect of stock-based compensation 1,678,501 1,879,073 1,545,591 1,855,067     Non-GAAP diluted weighted average shares outstanding  19,771,096 19,716,033 19,567,328 19,805,972     Supplemental information of stock-based compensation included in:         Cost of revenues $ 398$ 318$ 1,141$ 1,248Sales and marketing  1,025 954 2,874 2,368Research and development  256 363 727 1,154General and administrative  1,678 1,602 4,804 4,649     Total stock-based compensation$ 3,357$ 3,237$ 9,546$ 9,419     Reconciliation of cash flow from operations to free cash flow:         Net cash provided by operating activities$ 2,655$ 2,405$ 12,869$ 12,048Purchases of property, equipment and software, net (417) (236) (1,143) (1,393)Software development costs (51) - (142) (414)Excess tax benefits from equity awards 1,941 - 4,449 727     Free cash flow$ 4,128$ 2,169$ 16,033$ 10,968     

 


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Chinese Professor First to Participate in Franklin University Exchange Visitor Program

May 18, 2012 By Leave a Comment

Chinese Professor First to Participate in Franklin University Exchange Visitor Program










Columbus, OH (PRWEB) October 27, 2010

Franklin University, one of the leading educators of working adults in Central Ohio, is pleased to announce the arrival of Professor Weihua Peng, Associate Professor at the Sichuan Business Vocational College in Chengdu, People’s Republic of China, as Franklin’s first Exchange Visitor Scholar.

Recently designated by the U.S. Department of State (DOS) as a sponsor within the DOS Exchange Visitor Program (J-Visa), Franklin’s DOS designation covers the following categories: college/university students, short-term scholars, professors, and specialists.

Professor Peng will be an exchange visitor scholar on Franklin University’s Main Campus in downtown Columbus, Ohio, for six months, collaborating in various projects with three Franklin faculty members: Dr. Douglas Ross, MBA and M.S. in Marketing and Communication Program Chair; Dr. Souren Soumbatiants, Program Chair of Business Economics; and Dr. Wenxia Wu, Health and Public Administration faculty member. Professor Peng will also work closely with Dr. Silvia Jiménez-Hyre, Associate Dean of the Office of International Services & Programs and Responsible Officer for the Exchange Visitor Program.

Professor Peng serves as Associate Professor at the Sichuan Business Vocational College in Chengdu, People’s Republic of China. While in the U.S. and at Franklin University, she will be engaged in collaborative research and curricular development in the areas of American foreign trade policy and analysis of the U.S. market. Peng will also collaborate on research related to curriculum development and cross-cultural teaching strategies. Professor Peng will also work with the Franklin faculty to develop pedagogical strategies to better prepare faculty members for endeavors that include teaching abroad.

Franklin University staff and faculty members welcomed Professor Peng to the University’s campus on    Oct. 18. Her first two weeks at Franklin will consist of an extensive orientation to the campus and Central Ohio before she begins her work here.    

The purpose of the Exchange Visitor Program, administered by the Department of State under the provisions of the Mutual Educational and Cultural Exchange Act of 1961, as amended, is to increase mutual understanding through educational and cultural exchanges between the people of the U.S. and people of other countries. The Exchange Visitor Program provides foreign nationals opportunities to participate in exchange programs in the United States with the expectation that upon completion of their exchange programs, they will return home to share their experiences.

The U.S. Department of State designates U.S. organizations such as government agencies, academic institutions, educational and cultural organizations, and corporations to administer exchange visitor programs. These organizations are known as sponsors. Sponsors screen and select exchange visitors to participate in their programs based on the regulations governing the exchange activity and stated in 22 CFR Part 62. Sponsors provide participants pre-arrival information, an orientation, and monitor their activities throughout their exchange programs.

Students

Students are eligible for an exchange visitor visa if at any time during their college studies they are financed by the U.S. government, the student’s home government, an international organization, or are funded substantially from any source other than personal or family funds. Under certain circumstances, work permission is allowed. Prospective Students must contact the Office of International Services & Programs at Franklin University for more information.

Short-Term Scholars

Short-Term Scholars are permitted to participate in lecturing, observing, and consulting in seminars, workshops, conferences, study tours, professional meetings, or similar types of educational and professional activities for a period of up to six months.

Professors

This designation allows for exchange opportunities in research, teaching, lecturing, observing, or consultation at the Franklin University campuses and locations. A professor or research scholar in this category is given up to five years to complete teaching and research objectives, among others.

Specialists

The specialist category allows experts in a field of specialized knowledge or skill to come to the United States to observe, consult, or demonstrate special skills for a period up to one year.

About Franklin University

Founded in 1902, Franklin University is one of the leading and most experienced educators of adult students. Annually, more than 11,000 students attend Franklin, both at its Main Campus in downtown Columbus, Ohio, three Central Ohio locations, and at its newest location in Indianapolis, in addition to online. Franklin offers 27 undergraduate majors as well as three graduate programs and graduates more than 1,500 students annually. The University’s MBA Program is offered internationally through agreements with institutions in Europe, the Middle East, and Asia. Further information regarding Franklin University can be found at http://www.franklin.edu.

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Lingo24 Wins HSBC Business Thinking Award

May 16, 2012 By Leave a Comment

Lingo24 Wins HSBC Business Thinking Award











Christian Arno, Centre, with HSBC Chief Executive John Rendall (Left) and Gavin Esler


(PRWeb UK) October 29, 2010

Lingo24, a professional translation services provider from Scotland, has won HSBC’s prestigious Business Thinking Award for the Scotland and Northern Ireland region. The company now joins the other regional finalists at a gala event, taking place in Hong Kong on December 6th.

The HSBC Business Thinking initiative is designed to promote and support businesses in trading internationally, with Edinburgh-based Lingo24 recognised as being among the most innovative and forward-thinking business in the Scotland and Northern Ireland region.

Prior to Tuesday’s final, the six regional finalists were taken on a thought-exchange trip to Istanbul, which was not only a chance for them to swap ideas and build relationships with each other, but also network with local business people. Lingo24 is already negotiating partnerships with some top companies in Turkey on the back of this trip, and has translated its website into Turkish.

The awards ceremony was held at Hopetoun House in South Queensferry on Tuesday 26th October, with Newsnight host Gavin Esler presenting the awards. Esler commented that the judges had praised “Lingo24’s foundation of a strong international culture…and its innovation in promoting the foreign language internet.”

Lingo24 founder Christian Arno said: “For Lingo24 to have won is testament to our innovation within the translations market. I’m delighted and proud to receive this sort of recognition.”

Arno launched Lingo24 in 2001, initially as a small home-based online business operated from his parents’ home in Aberdeen. Lingo24 now has 140 full-time employees across the globe, with its headquarters located in Edinburgh’s New Town. And with clients in over sixty countries and a global network of over 4,000 freelance translators, Lingo24 is on course for a turnover of £5m in 2010 and is gearing up to launch new hubs in the Asia-Pacific (APAC) region in early 2011. Lingo24 specialise in everything from website translation and document translation, to brand-name checking and multilingual SEO.

“Being involved with Business Thinking has already opened doors for us in Europe”, says Arno. “And winning this award will help Lingo24 tap into further new markets in Asia. I sincerely hope Lingo24 can lead the way for Scottish businesses to prosper in international markets.”

The other winner from the region was Bio Technics, an Aberdeenshire-based environmental technology company, and both companies will receive up to £5 million in lending and a financial reward of up to £100,000.

Lingo24 and Bio Technics will now join the sixteen winners from the other eight regions across the UK, to compete for the main prize in Hong Kong in early December.

HSBC Chief Executive, John Rendall, said: HSBC Chief Executive, John Rendall, said: “The standard of entries to the Business Thinking initiative was incredibly high, and the judging panel faced a very difficult decision in deciding which companies should win. Bio Technics and Lingo24 are truly ‘thinking’ businesses, with an innovative approach and a compelling business case, reflecting their learnings from the Thought Exchange.

“The winners are a great example of companies in Scotland that are looking beyond domestic markets to develop their business, and we urge other companies in the region to consider the opportunities that may lie overseas for them.”

About Lingo24

Lingo24 is a global language translation company, with 140 full-time employees spread across three continents. Launched in 2001 by Christian Arno, Lingo24 now has clients in over sixty countries and is on course for a turnover of £5m in 2010.

For photos, interviews or for any further information, please contact:

Paul Sawers

Communications Executive

Lingo24

t. 020 7952 7742

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IBC Advanced Alloys Announces 2010 Financial Results

May 15, 2012 By Leave a Comment

IBC Advanced Alloys Announces 2010 Financial Results











IBC Advanced Alloys Corp. President and CEO Anthony Dutton


Vancouver, BC (Vocus) October 31, 2010

IBC Advanced Alloys Corp. (TSX-V: IB) (“IBC” or the “Company”), an integrated manufacturer and distributor of advanced nonferrous alloys and related products, has released its audited financial results for the year ended June 30, 2010.

Fiscal 2010 Financial Highlights

    Fourth quarter sales increased to $ 4.57 million, up 75% compared to the fourth quarter in fiscal 2009 and 13% higher than third quarter sales.
    Year to date sales increased $ 14.93 million, up 29% compared to fiscal 2009.
    Loss for the year was $ 4.1 million, down 72% from fiscal 2009.
    Cash and cash equivalents at June 30, 2010 were $ 5.53 million, reflecting the closing of a prospectus offering in March 2010.

Business Highlights

“The June 30, 2010 quarter recognized IBC’s continued growth with revenues at our manufacturing facilities steadily increasing. The scope of our operations has significantly increased with the acquisition of our beryllium-aluminum division, and our operating results are expected to improve in fiscal 2011 with its further integration,” said Mr. Anthony Dutton, President and CEO of IBC. “In this most recent quarter, we focused on reorganizing and streamlining our manufacturing operations for maximum production efficiencies,” continued Dutton, “and are also planning significant plant and equipment upgrades for the upcoming year, which are also expected to improve our operating results in fiscal 2011.”

In March 2010, IBC completed a short-form prospectus offering that raised gross proceeds of $ 10.2 million and net cash proceeds of $ 9.1 million. The offering provided funds to acquire and expand Beralcast® Corporation, finance business development programs and fund exploration work on the Company’s mineral properties.

The Company has begun the relocation process for its beryllium-aluminum division to a new facility in Wilmington, Massachusetts. The move is expected to be completed by the end of January 2011 and will reduce delivery times to customers and provide space to expand production capacity. The Company estimates that relocation costs will be less than the estimated amount indicated in the short-form prospectus.

The Company is also forging ahead with is research initiatives to increase demand for beryllium and beryllium oxide. In the fourth quarter, the Company extended its research agreement with Purdue University, until the end of the year, to complete the current phase of research in developing a new type of beryllium oxide. IBC expects its research initiatives will better identify and inform potential industry partners in order to expand technologies and increase beryllium demand.

Further to the Company’s June 30, 2010 MD&A, Vangold Resources Ltd. (“Vangold”), a company with a director and a significant shareholder in common with IBC, held 25,609,746 of the Company’s common shares. Under a plan of arrangement, Vangold distributed these shares to its shareholders, although the shares were placed into escrow. The distribution of the shares was effectively deferred until November 23, 2010, when all of the IBC shares formerly held by Vangold will be released from escrow. The release of these common shares from escrow could have a temporarily adverse effect on the market for the Company’s shares.

For full particulars, please refer to our audited consolidated financial statements, MD&A and annual information form for the year ended June 30, 2010, filed on SEDAR and available at http://www.sedar.com.

About IBC Advanced Alloys Corp.

IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications, and a range of industrial applications. IBC has 81 employees and is headquartered in Vancouver, Canada with production facilities in Indiana, Massachusetts, Pennsylvania and Missouri. Additionally, IBC owns prospective beryllium properties in the Western US covering approximately 9,500 hectares. IBC is creating a dynamic global beryllium and advanced alloys company. IBC’s common shares are traded on the TSX Venture Exchange under the symbol “IB”.

See IBC on Facebook.

For additional information please contact:

IBC Advanced Alloys Corp.

Ian Tootill, Director of Corporate Communications

(604) 685-6263 ext 110

Website: http://www.ibcadvancedalloys.com

This news release was prepared by management of IBC, which takes full responsibility for its contents. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Legal Notice Regarding Forward Looking Statements

This disclosure contains certain forward-looking statements including expectations about future operating results and the benefits of relocating our beryllium-aluminum division that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing operations and mineral exploration, therefore the Company’s future results, performance or achievements could differ materially from those expressed in these forward-looking statements will transpire. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.

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K-Tron International Ranked 46th In Delotte’s 2010 Greater Philadelphia Fast 50

May 14, 2012 By Leave a Comment

K-Tron International Ranked 46th In Delotte’s 2010 Greater Philadelphia Fast 50










Pitman, NJ (PRWEB) November 3, 2010

K-Tron International today announced that it ranked number 46 on the 2010 Greater Philadelphia Fast 50, Deloitte’s ranking of 50 of the fastest-growing technology, life sciences and clean technology companies in the Greater Philadelphia region. Rankings are based on percentage of fiscal year revenue growth during the period from 2005–2009. K-Tron grew 60 percent during this period.

K-Tron’s Chief Financial Officer, Robert Wisniewski, credited both internal growth and a string of highly successful acquisitions for the company’s 60 percent revenue growth. “This award illustrates the high level of performance Hillenbrand, Inc. saw in K-Tron, which led it to acquire the company on April 1, 2010,” he said.

He added, “Hillenbrand views K-Tron as a long-term growth platform. The company plans to leverage our market-leading technologies and systems knowledge, applying Hillenbrand’s core competencies in strategy management, lean business principles and talent development, to fuel that growth.”

“K-Tron International and the other 2010 Greater Philadelphia Fast 50 winners forged ahead in a challenging economic environment to realize exceptional growth,” said Tara L. Weiner, managing partner, Greater Philadelphia region, Deloitte. “Deloitte commends K-Tron for this impressive accomplishment.”

This is K-Tron’s second consecutive year as a Greater Philadelphia Fast 50 award winner. The company ranked 40th in 2009. For details on the 2010 Greater Philadelphia Fast 50, including selection and qualifying criteria, visit http://www.deloitte.com/us/phillyfast50

About Hillenbrand, Inc. and K-Tron International

Hillenbrand (http://www.HillenbrandInc.com) is a diversified enterprise with multiple subsidiaries focused around two separate operating businesses. Batesville Casket (http://www.batesville.com) is a leader in the North American death care industry through the sale of funeral services products, including burial caskets, cremation caskets, containers and urns, selection room display fixturing, and other personalization and memorialization products. K-Tron International (http://www.ktroninternational.com) is a recognized leader in the design, production, marketing and servicing of bulk solids material handling equipment and systems. The company serves many different industrial markets through two product lines. The Process Group focuses primarily on feeding and pneumatic conveying equipment, doing business under two main brands: K-Tron Feeders (http://www.ktron.com) and K-Tron Premier (http://www.ktronpremier.com). The Size Reduction Group concentrates on size reduction equipment, conveying systems and screening equipment, operating under three brands: Pennsylvania Crusher (http://www.penncrusher.com), Gundlach (http://www.gundlachcrushers.com) and Jeffrey Rader (http://www.jeffreyrader.com).

As used in this document, “Deloitte” means Deloitte LLP. Please see http://www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.

K-TRON INTERNATIONAL, INC.        

Routes 55 & 553, PO Box 888                

Pitman, NJ 08071-0888            

(856) 589-0500                                                        

FAX (856) 582-7968

http://www.ktroninternational.com

E-mail: ktii(at)ktron(dot)com    

Contact:

Robert E. Wisniewski

Senior Vice President and Chief Financial Officer

Tel: (856) 256-3311    

E-mail: rwisniewski(at)ktron(dot)com

Disclosure Regarding Forward-Looking Statements

Throughout this release, we make a number of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including the anticipated effect of the acquisition on Hillenbrand’s future results. As the words imply, forward-looking statements are statements about the future, as contrasted with historical information. Our forward-looking statements are based on assumptions and current expectations of future events that we believe are reasonable, but by their very nature they are subject to a wide range of risks. If our assumptions prove inaccurate or unknown risks and uncertainties materialize, actual results could vary materially from Hillenbrand’s expectations and projections.

Words that could indicate we’re making forward-looking statements include the following:

intend, believe, plan, expect, may, goal, would, become, pursue, estimate, will, forecast, continue, could, targeted, encourage, promise, improve, progress, potential, should

This isn’t an exhaustive list, but is simply intended to give you an idea of how we try to identify forward-looking statements. The absence of any of these words, however, does not mean that the statement is not forward-looking.

Here’s the key point: Forward-looking statements are not guarantees of future performance, and our actual results could differ materially from those set forth in any forward-looking statements. Any number of factors — many of which are beyond our control — could cause our performance to differ significantly from those described in the forward-looking statements. These factors include, but are not limited to: recent global market and economic conditions, including those related to the credit markets; volatility of our investment portfolio; adverse foreign currency fluctuations; ongoing involvement in claims, lawsuits and governmental proceedings related to operations; labor disruptions; our ability to execute a successful integration of K-Tron International; the dependence of our business units on relationships with several large national providers; increased costs or unavailability of raw materials; continued fluctuations in mortality rates and increased cremations; competition from nontraditional sources in the funeral services business; ongoing antitrust litigation; cyclical demand for industrial capital goods; and certain tax-related matters. For a more in-depth discussion of these and other factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions under the heading “Risk Factors” in item 1A of Hillenbrand’s Annual Report on Form 10-K for the year ended September 30, 2009, filed with the Securities and Exchange Commission (SEC) November 24, 2009; K-Tron’s Annual Report on Form 10-K for the year ended January 2, 2010, filed with the SEC March 15, 2010; and our current report on Form 8-K, filed with the SEC July 6, 2010. The company assumes no obligation to update or revise any forward-looking information.

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Vocus Announces Schedule of Upcoming Financial Conferences

May 8, 2012 By Leave a Comment

Vocus Announces Schedule of Upcoming Financial Conferences











A leading provider of on-demand software for public relations management. Follow us on Twitter: @Vocus

Lanham, MD (PRWEB) November 3, 2010

Vocus (NASDAQ: VOCS) a leading provider of on-demand software for public relations management, announced today that Vocus executives will participate in the following upcoming financial conferences.

Wells Fargo Securities Technology, Media & Telecom Conference

November 9, 2010, 2:40pm (ET)

New York, NY

2010 RBC Capital Markets Software as a Service Conference

November 18, 2010

New York, NY

Interested parties will be able to listen to and view Vocus’ presentations by logging on through the Investor Relations section of Vocus’ website at http://onlinepressroom.net/vocus/ir/.

About Vocus

Vocus, Inc. (NASDAQ: VOCS) is a leading provider of on-demand software for public relations management. Our web-based software suite helps organizations of all sizes to fundamentally change the way they communicate with both the media and the public, optimizing their public relations and increasing their ability to measure its impact. Our on-demand software addresses the critical functions of public relations including media relations, news distribution and news monitoring. We deliver our solutions over the Internet using a secure, scalable application and system architecture, which allows our customers to eliminate expensive up-front hardware and software costs and to quickly deploy and adopt our on-demand software. Vocus is used by more than 7,700 organizations worldwide and is available in seven languages. Vocus is based in Lanham, MD with offices in North America, Europe and Asia. For more information, please visit http://www.vocus.com or call (800) 345-5572.

This release contains “forward-looking” statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These are statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “expects,” “projects,” “anticipates,” “estimates,” “believes,” “intends,” “plans,” “should,” “seeks,” and similar expressions. This press release contains forward-looking statements relating to, among other things, Vocus’ expectations and assumptions concerning future financial performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause actual future results to differ materially from those projected or contemplated in the forward-looking statements. Forward-looking statements may be significantly impacted by certain risks and uncertainties described in Vocus’ filings with the Securities and Exchange Commission.

The risks and uncertainties referred to above include, but are not limited to, risks associated with possible fluctuations in our operating results and rate of growth, our history of operating losses, interruptions or delays in our service or our Web hosting, our business model, breach of our security measures, the emerging market in which we operate, our relatively limited operating history, our ability to hire, retain and motivate our employees and manage our growth, competition, our ability to continue to release and gain customer acceptance of new and improved versions of our service, successful customer deployment and utilization of our services, fluctuations in the number of shares outstanding, our ability to integrate acquisitions, foreign currency exchange rates and interest rates.

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Values Bring Tourism Back to Puerto Vallarta and to Playa del Sol Costa Sur

May 6, 2012 By

Values Bring Tourism Back to Puerto Vallarta and to Playa del Sol Costa Sur











Private beach at Playa del Sol Costa Sur


(Vocus) November 4, 2010

Great service and added values with better rates than ever in Puerto Vallarta Hotels. Just the perfect getaway for a family vacation; beautiful beaches, good food and a very safe destination.

“There are better values now for visitors here in Puerto Vallarta than we have seen in many years,” says Dennis Whitelaw, President of the Puerto Vallarta Conventions and Visitors Bureau.

Whitelaw says tourists are now steadily returning to Puerto Vallarta beach resorts and to many other popular Mexican destinations following a severe, two-year decline in Mexico’s tourism industry which follows only oil exports as a foreign exchange source for the country. In large part, the tourists are back in Puerto Vallarta in response to attractive discounts on hotel pricing and tours. Whitelaw estimates that hotel room pricing has been reduced by an average of fifteen to twenty percent in Puerto Vallarta hotels over the last two years. Even greater discounts are available for many of the tours that bring Puerto Vallarta visitors up into the jungled mountains for canopy rides or out onto the bay for a day’s escape to a beach village for lunch.    Restaurants have also pulled back from any price increases and some have added attractively priced specials to compete for the more than 3.4 million visitors who come each year to Puerto Vallarta.

Two years ago, Puerto Vallarta hotels entered an intense drought in bookings, with many hotels registering double digit reductions. Whitelaw says, “In 2009, Puerto Vallarta hotel occupancies were off by about 25 percent from our peak in 2008. This season (2010-1011), it looks like we will be up by about 10 percent over last year and by the 2011 – 2012 high season, Puerto Vallarta hotels could see nearly a full recovery.”

But what exactly has Puerto Vallarta been recovering from? Beginning in 2008, the town suffered a perfect storm that combined the global recession with rumors of swine flu and reports of drug wars in Mexico. The swine flu rumors were just that, and the drug related violence has been focused primarily in Mexico’s border zone, although media coverage in the U.S. has often failed to distinguish between the conflicted areas to the north and the tranquil beach destinations such as Puerto Vallarta to the south.

“Most U.S. residents in Puerto Vallarta feel safer here than in their home cities,” according to Gelsey Fadul, Marketing Director for Playa del Sol Costa Sur, a Howard Johnson Hotel on the beach about ten minutes south of town.

Fadul says, “We have had to reduce pricing in order to compete for every booking, just like everyone else in this business. But it’s working. Our occupancies will be almost back to normal this high season. It’s a great time to enjoy Puerto Vallarta because it’s the same beautiful place but everything has been re-priced to compete in these new market conditions.”

At Playa del Sol Costa Sur, located on a secluded beach along the rugged and beautiful South Shore of Puerto Vallarta’s Banderas Bay, Fadul says that the Mexican market for hotel accommodations “remained loyal and active” during the two years in which Americans and Canadians stayed at home. “The national market here really helped tremendously, especially in the summer months when we don’t see that many people from the States and Canada, even during good years.”

Fadul notes that the long term outlook for Puerto Vallarta hotels is excellent. “We are investing in a major renovation at the hotel, simply because we know that Puerto Vallarta has all of the features necessary to compete very successfully in the tourism market. There will always be surprises in this business, but Puerto Vallarta is in a ‘sweet spot’ location with wonderful people, perfect weather and a gorgeous bay surrounded by green mountains. If we price it right, Puerto Vallarta will always be a great value – a magnet for people looking for a tropical getaway close to home.”

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