Infraline Press Release – Successful EPC Contracting in India: Addressing Fiscal and Legal Challenges, Nov 5-7, 2009, Mumbai
Posted on 2009 under Communications, News | No Comment2 Sep
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Successful EPC Contracting in India – Addressing Fiscal and Legal Challenges |
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Infraline in association with its Knowledge Partners, BMR Advisors and Trilegal are organizing yet another Workshop on ‘Successful EPC Contracting – Fiscal & Legal Challenges’, in Mumbai on 5th, 6th and 7th of November, 2009.
This would be the 6th such workshop in the series of highly acclaimed and successful events held since 2005 across the country. The workshop would be lead by renowned Tax and Legal experts viz Mr Sujit Ghosh, Partner BMR Advisors & Head of Infrastructure Practice (core competence Indirect taxes), Mr Gokul Chaudhri, Partner BMR Advisors and Head of Energy Practice (core competence Corporate Taxes) and Mr Akshay Jaitley, Founding Partner at Trilegal (core competence legal documentation of EPC contacts).
Unlike other years, the present workshop would aim to deliberate entirely on controversial Fiscal and Legal issues that are being increasingly witnessed by the Industry. While we are in the midst of finalizing the course content, an indicative list of some of the issues, that the Faculty would seek to address are as follows:
In addition, the high-point of the event would be a simulation of real-life EPC contract bid planning and presentation (from fiscal and legal perspective only), involving interactive role played by (bidding teams comprising the participants) for the entire duration of Day 3 of the program . The objective of the interactive case studies would be to enable application of the understanding and knowledge gained at the workshop in preparation and delivery of an effective bid/implementation of a project, in a simulated environment. The group dynamics involved in the bid preparation and the subsequent presentation of the bid by the selected bidding team would help participants gain a practical insight on construction and evaluation of a successful EPC bid. While we are in the process of preparing the detailed course agenda, you may consider blocking your diaries in advance. We look forward to your patronage. For further details please contact: Pryas Jain |
Press Release – AMD’s World Renowned ATI RadeonT HD 4800 Series Found In High Performance iMac and Mac Pro Computers Complements Snow Leopard With OpenCL
Posted on 2009 under Communications, News | No Comment31 Aug
NEWS RELEASE
AMD’s World Renowned ATI Radeon ™ HD 4800 Series Found in High Performance iMac and Mac Pro Computers Complements Snow Leopard with OpenCL
— Leading ATI Radeon™ graphics with OpenCL deliver high performance for next
Generation Mac operating system —
Mumbai, India, August 31, 2009 : AMD (NYSE: AMD) today announced that the world renowned ATI Radeon™ HD 4800 series, now found in some of the highest performance iMac and Mac Pro configurations, complements Snow Leopard’s fully compliant OpenCL Version 1.0 implementation. As an open standard specification, OpenCL is a key enabler of ATI Stream technology, which allows developers to create highly efficient applications balanced across CPU and GPU resources for superior performance running on Snow Leopard systems.
“Software developers can better serve end-users through open standards and OpenCL, a major component of Snow Leopard, that enables AMD’s ATI Stream technology to accelerate mainstream applications through the processing the power of a GPU,” said Rick Bergman, senior vice president and general manager, AMD Products Group. “Whether you’re enjoying HD multimedia content or playing the newest games, the ATI Radeon™ HD 4870 and ATI Radeon™ HD 4850 in the latest Mac Pro and iMac help ATI Stream-enabled applications run faster.”
- ATI Radeon HD 4870 graphics are available in the latest Mac Pro, while the ATI Radeon HD 4850 graphics power the latest iMac. Designed as high-performance parts for the ATI Radeon™ HD 4000 family of products, these feature-rich graphics processors redefine computer entertainment with advanced capabilities including support for the latest games and a home theater-quality HD multimedia experience on HD-capable monitors for use at work, at home or at play.
- ATI Stream technology leverages multi-core CPU and GPU architectures to accelerate the execution of stream-enabled highly parallel functions enabling software developers to enable improved performance and interactivity across a broad range of OpenCL capable compute platforms.
Resources
- ATI Stream technology
- ATI Radeon™ graphics processors
- Performance benefits and competitive results for ATI Radeon
About AMD
Advanced Micro Devices (NYSE: AMD) is an innovative technology company dedicated to collaborating with customers and technology partners to ignite the next generation of computing and graphics solutions at work, home and play. For more information, visit www.amd.com.
© 2009 Advanced Micro Devices, Inc. AMD, the AMD Arrow logo, ATI, the ATI logo, Radeon and combinations thereof are trademarks of Advanced Micro Devices, Inc. Other names are for informational purposes only and may be trademarks of their respective owners.
Media Contacts
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Rasick Gowda: +91 9448236720 The PRactice |
Yogesh Gupta : +91 9833045003 The PRactice |
Press Release: NETAPP SHARES ITS CLOUD STRATEGY, ENABLES TCL TO DELIVER INFRASTRUCTURE & SERVICES FOR THE CLOUD
Posted on 2009 under Communications, News | No Comment27 Aug
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NETAPP SHARES ITS CLOUD STRATEGY, ENABLES TCL TO DELIVER INFRASTRUCTURE & SERVICES FOR THE CLOUD
Works with best-of-breed technology/ channel partners & service providers to tap the vast opportunities in cloud services in India
MUMBAI/ BENGALURU, India—August 27, 2009 — NetApp (NASDAQ: NTAP) today shared its cloud strategy with industry-leading Information Technology (IT) vendors and enterprise Value Added Resellers (VARs) to tap the vast opportunities in cloud services in India. According to an IDC study[1], around 40% of Indian enterprises are considering the adoption of cloud services to save costs and compete in the challenging market environment.
NetApp’s announcement was made along with Tata Communications Ltd, who are providing cloud infrastructure on NetApp platform. Global service providers and system integrators are also leveraging NetApp technology to create cloud service offerings for their own enterprise customers.
“NetApp believes that because there are several elements that must come together to create a cloud infrastructure, no single vendor is able to adequately address each and every layer,” said Surajit Sen, Director – Channels, Marketing & Alliances, NetApp India. “It’s imperative that customers identify the right partners that can provide the services, technology, and integration necessary for their unique cloud needs. Today’s announcement not only spotlights the best-of-breed partners that NetApp has cultivated to help customers, but also helps validate our technology offering for the cloud thanks to the many service providers and system integrators who are leveraging NetApp solutions.”
Speaking on the occasion, Alok Bardiya, Vice President Managed Services, Marketing & Alliances, Tata Communications Ltd., said: “Tata Communications Ltd. has built its global hosting, on-demand storage services based on leading technologies and industry practices. Using NetApp for our cloud-based services allows us to easily manage and monitor our infrastructure to provide secure, 24×7x365 availability and lower costs for our enterprise customers while relieving them of the day-to-day management of their IT infrastructure. Together with NetApp we enable our customers to flexibly support their business requirements today and then quickly scale up or down as their business needs change, paying only for what they need.”
Following is an overview of some of the partners and customers NetApp is working with to enable the cloud. To watch a video and hear what they’re saying about their relationship with NetApp and the company’s strategy and approach to cloud computing, click here.
TECHNOLOGY PARTNERS
NetApp works closely with the industry’s leading IT vendors to provide joint customers with the solutions and infrastructure needed to enable the cloud. These technology partners include vendors who provide leading management, server, application, software, and networking technologies and solutions that all leverage the power of virtualization to help deliver a service-oriented dynamic data center.
Cisco
“As shared cloud infrastructures grow, customers demand the peace-of-mind to know that their business critical data and information is secured and isolated from the virtual server all the way down to the storage stack. Cisco is working with industry leading companies like NetApp to ensure interoperability for dynamic networking and unified computing solutions to help enterprise customers benefit from their enterprise clouds.”
- Naresh Wadhwa, President & Country Manager – Cisco India & SAARC
VMware
“With VMware® vSphere™ 4 and NetApp storage technologies, enterprises can build and operate a virtualized, services-based data center to more rapidly address changes in business requirements, meet the demand for 24×7 business resiliency, and drastically reduce costs. VMware vSphere 4 allows IT to virtualize and allocate resources on demand and complements the special cloud benefits of NetApp storage. VMware and NetApp together help enable the next generation of flexible, reliable enterprise IT services with the efficiency, control, and choice that cloud computing offers.”
- T Srinivasan, Managing Director, VMware India & SAARC
BMC Software
"The benefits of cloud computing—improved business agility, self-service, reduced capex—are well documented, but they can only be truly recognized with a comprehensive business service management strategy that reduces risk and drives compliance. Together, BMC and NetApp are providing IT organizations and service providers with a comprehensive, integrated service and storage management solution for cloud and virtual environments."
- Kia Behnia, chief technology officer for BMC Software
Brocade
“A powerful and flexible IT infrastructure must be in place to deliver upon the key requirements of an IT-as-a-service model. In support of this emerging trend, Brocade intends to work with industry partners such as NetApp through our Network Infrastructure as a Service (NIaaS) technology platform, which is designed to support a heterogeneous environment and interoperate seamlessly with multiple manufacturer products and all virtualization software offerings. Brocade and NetApp have long shared a goal of helping our mutual customers drive out costs, improve agility, and increase reliability, and this collaboration is the latest example of that.”
- Dave Stevens, vice president and chief technology officer for Brocade
Citrix
“Citrix Cloud Center (C3) integrated with NetApp storage systems provides cloud providers with a robust platform for delivering infrastructure as a service. As the foundation for Citrix C3, XenServer and Citrix Essentials enable cloud service providers to seamlessly leverage the advanced NetApp storage capabilities across their cloud platform, reducing the time and cost to deploy highly scalable and elastic services.”
- Frank Artale, vice president of business development for Citrix Systems, Inc.
Computer Associates
“CA and NetApp are excited about how enterprises and cloud computing providers utilize automation and virtualization to drive business value in the next-generation data center and achieve lean IT. Storage is a key part of the overall IT-as-a-service value. We look forward to continued collaboration that integrates CA’s business-driven automation and assurance offerings with NetApp’s storage management solutions to help customers create and leverage a cloud-based business service across multiple infrastructure elements, including storage. This comprehensive approach to cloud management will further help improve productivity and service quality, provide increased agility, and reduce risks.”
- Roger Pilc, corporate senior vice president and general manager for CA’s Infrastructure Management and Automation business unit
Fujitsu America
“As data center dynamics shift to a service-oriented infrastructure, Fujitsu is committed to providing customers with a complete and well-rounded technology infrastructure for the cloud. In order to deliver cloud solutions to our customers, we work closely with some of the industry’s leading virtualization technology providers such as NetApp.”
- Richard McCormack, senior vice president, Product & Solution Marketing for Fujitsu America
Microsoft
“Microsoft and NetApp provide powerful solutions for building and managing private cloud infrastructures. We’re helping innovative organizations transition to private cloud computing environments by providing them with the required combination of virtualization, service-oriented management systems, and a scale-out application model. With NetApp storage and Microsoft® virtualizations solutions, customers can deploy cost-effective and efficient data center infrastructure that provides fast response to their businesses’ needs.”
- Zane Adam, senior director, virtualization and management for Microsoft Corp.
SAP
“SAP® Business ByDesign leverages NetApp to provide our customers with a complete, integrated on-demand software-as-a-service (SaaS) solution. With the NetApp platform we are able to quickly provision our internal storage resources, enabling customers to accelerate deployment of their SaaS solution. In addition we can quickly conduct disk-to-disk backup, providing our customers with access to their data on demand. With the help of NetApp our customers experience the reliability and efficiency that they have come to expect from services leveraging cloud principles in internal IT systems.”
- Bernd Himmelsbach, director of SAP Business ByDesign Infrastructure Management for SAP
ENTERPRISE VARs
Enterprise VARs are integral components of NetApp’s success today. NetApp and its channel partners have been working closely to deliver a broad set of virtualization solutions to help customers achieve a cost-efficient data center. Many of these partners share NetApp’s vision of the cloud and will continue the close collaboration to serve their customers.
Avnet Technology Solutions
"Our reseller partners have the choice of selling or leasing equipment to their customers, or simply taking advantage of our infrastructure-as-a-service offering. Our partners can offer their customers the benefits of a data center without the capital expenditure and issues of having to own and operate one. These cloud services become just an expense item for our partners’ end customers, not an ongoing challenge of managing infrastructure and finding and retaining good people."
- Stephen Lester, director of IT for Avnet Technology Solutions
INX
“INX is pleased to partner with NetApp as a strategic cloud computing partner. INX leverages NetApp technology to offer both internal and external cloud computing services to our clients in the form of dynamic data center architecture, hosted production and disaster recovery services, and in managed services. NetApp also plays a pivotal role in driving efficiencies in our internal operations, which also helps us to better address our clients’ challenges.”
- Mark Hilz, president and chief operating officer for INX
Long View
"NetApp is a strategic cloud computing partner for Long View. With NetApp storage and data management we can build a service-based and virtualized dynamic infrastructure that forms the foundation for efficient internal or external cloud solutions for our enterprise customers. We look forward to continued collaboration with NetApp to bring automated cloud services to our customers to improve business agility and reduce data center costs.”
- Dan Sottile, senior vice president, North America Sales, Marketing, and Business Development for Long View
SERVICE PROVIDERS DELIVERING ENTERPRISE CLOUD SERVICES
Some of the world’s leading service providers utilize NetApp storage and data management solutions at the core of their cloud service offerings. By leveraging NetApp’s unique technologies and solutions for the cloud, service providers are able to provide their customers with competitive service-level agreements, faster service delivery, and lower costs. NetApp is committed to providing its service provider customers with tailored solutions and technologies that address their customers’ unique cloud infrastructure requirements.
Joyent
“At Joyent, we leverage NetApp’s storage solutions to deliver the core of our Cloud Storage product lineup. More and more enterprises are transitioning to the cloud. Joyent is focused on ensuring that when our customers make this transition they do not have to give up high-performance, reliable, enterprise-class storage and disaster recovery tools. NetApp storage allows these customers to take their business-critical apps from their data center to the Joyent Cloud.”
- Mark Mayo, vice president of Engineering for Joyent, Inc.
Rackspace
"Rackspace relies on NetApp storage and data management technology for a variety of hosting options. NetApp is a key component in powering The Rackspace Cloud, our cloud division. With NetApp we can create a virtual, shared, and dynamic infrastructure with extremely high
utilization. This allows us to provide industry-leading cost efficiencies to our customers. Rackspace also uses NetApp to provide Dedicated NAS services to Enterprise Managed Hosting customers seeking a dedicated file storage and data protection solution."
- John Engates, chief technology officer for Rackspace
Siemens IT Solutions and Services, Inc.
“Our NetApp platform provides Siemens IT Solutions and Services with advanced capabilities, including storage virtualization, thin provisioning (FlexVol®), data deduplication, file consolidation, disk-based recovery, remote replication, cloning, ATA support, and multiple connectivity choices—all in a single, unified platform. They are foundation technologies for our infrastructure-as-a-service and private cloud capabilities. These features, when leveraged with virtualization, create the structure for a dynamic storage environment that can be provisioned based on business needs in real time.”
- John Hill, chief technology officer for Siemens IT Solutions and Services, Inc.
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Terremark
“Terremark has leveraged NetApp’s technology to deliver reliable storage and disaster recovery solutions for many years. As a recognized leader in cloud computing, we feel that the features, reliability, efficiency and manageability of NetApp technologies complement Terremark’s ability to deliver advanced cloud-based services to enterprise-class customers.”
- Tom Mays, senior vice president for Terremark
T-Systems
“T-Systems provides over 170 enterprise customers worldwide with cloud services for key applications like SAP® and Microsoft® Exchange with our Dynamic Services offering. Together with our technology partners we are able to achieve 90% service infrastructure utilization, allowing us to pass on both cost savings and higher service levels to our customers. In fact, our customers see up to 30% reduction in cost using Dynamic Services vs. in-house hosting. Furthermore, our customers benefit from integrated data protection and secure multi-tenancy while we are able to flexibly scale IT resources up and down in a matter of hours rather than days or weeks. NetApp is an essential component to enabling all of these benefits by regularly and reliably delivering on our specific requirements.”
- Olaf Heyden, member of the Board of Management T-Systems for ICT Operations
SYSTEM INTEGRATORS DELIVERING ENTERPRISE CLOUD SERVICES
NetApp provides its system integrator customers with the storage infrastructure for their cloud service offerings. As a result these system integrators are able to deliver the unique solutions that an enterprise environment demands.
Accenture
“Accenture’s clients have many requirements for cloud infrastructures, including economy of implementation, simplicity of operation, high-performance, multi-application processing, and assured data security. Accenture and its technology partners such as NetApp are committed to delivering this combination to enable our clients to reduce costs while improving responsiveness and performance.”
- John Kaltenmark, managing director for Accenture Technology Consulting
Avanade
“Enterprises look to cloud computing to reduce costs and deliver critical performance requirements through shared environments. Avanade and NetApp collaborated to shift one of the world’s largest exchange environments to a virtualized, shared infrastructure. The move delivers reliable service levels, even during rapid shifts in locations and activity.”
- Tyson Hartman, chief technology officer and vice president of Enterprise Technology Solutions for Avanade
CSC
“CSC collaborates with NetApp to deploy CSC Dynamic Desktop to help clients drive additional cost and complexity out of their virtual desktop IT environment and deliver optimized computing capacity. To date, the companies have jointly developed and delivered cloud-enabled solutions, integrated data center solutions, high-performance computing systems, and managed infrastructure services. We are very pleased to be working with world-class technology partners such as NetApp to provide customers with sound business solutions backed by an experienced IT services leader.”
- Russ Owen, president of CSC’s Managed Services Sector
Unisys
“Unisys is pleased to partner with NetApp to provide the federal sector with an innovative utility storage service offering. This scalable ‘pay-as-you-go’ solution allows clients to access their data with the assurance that their assets are securely managed within a proven and structured delivery framework. This unique offering provides significant flexibility and cost benefits to clients and positions NetApp and Unisys as leading providers of secure data center transformation solutions for the federal government.”
- Venkatapathi Puvvada, managing partner, Horizontal Services and chief technology officer for Unisys
Discuss this news in the NetApp community, where you can exchange thoughts and ideas on a variety of topics with our community members. Collaborate with our company; engage in conversation with NetApp leaders and employees; and participate in our passion to go further, faster. Join now at www.netapp.com/us/communities.
Additional Resources
Additional resources to be included in August 25 version of press release.
About NetApp
NetApp creates innovative storage and data management solutions that accelerate business breakthroughs and achieve outstanding cost efficiency. Discover our passion for helping companies around the world go further, faster at www.netapp.com.
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###
Press Contact:
Arati Bam
NetApp
+91-9845288554
Rishar Raviraj
Adfactors PR
+91-9819825369
rishar.raviraj@adfactorspr.com
Forward-Looking Statement
In addition to historical information, this document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein represent NetApp’s beliefs regarding future events, many of which are, by their nature, inherently uncertain and outside NetApp’s control. Forward-looking statements include, but are not limited to, statements regarding NetApp’s market opportunities and competitive strengths as well as its strategies, plans, and objectives and other statements that are not historical facts.
NetApp cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the adverse global economic and market conditions, risks associated with the anticipated growth in network storage and content delivery markets, NetApp’s ability to deliver new product architectures and enterprise service offerings, and other important factors as described in NetApp’s reports and documents filed from time to time with the Securities and Exchange Commission. NetApp disclaims any obligation to update and revise the forward-looking statements contained in these materials based on new information or otherwise.
NetApp, the NetApp logo, Go further, faster, and FlexVol are trademarks or registered trademarks of NetApp, Inc. in the United States and/or other countries. Microsoft is a registered trademark of Microsoft Corporation. SAP is a registered trademark of SAP AG. VMware is a registered trademark of VMware, Inc. All other brands or products are trademarks or registered trademarks of their respective holders and should be treated as such.
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[1] IDC, Market Evolution and Trends for Cloud Computing: Asia / Pacific End-User Study, 2009, Doc# AP6291IDS
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Salesforce.com Press Release: Salesforce.com Announces FiscalSecond Quarter Results
Posted on 2009 under Communications, News | No Comment21 Aug
Salesforce.com Announces Fiscal Second Quarter Results
Company Raises FY2010 Revenue and EPS Guidance
India, Aug 21, 2009
- Record Revenue of $316 Million, up 20% Year-Over-Year
- Record GAAP EPS of $0.17, up 113% Year-Over-Year
- GAAP Operating Margin of 9.3%, up from 6.1% a Year Ago
- 3,900 Net New Customers During the Quarter
- Total Customers at 63,200, up 32% Year-Over-Year
- Total Cash and Marketable Securities of $1.03 Billion, up $207 Million Year-Over-Year
- Company Raises FY2010 Revenue Guidance to $1.27 Billion to $1.28 Billion
- Company Raises FY2010 EPS Guidance to $0.60 to $0.61
Salesforce.com (NYSE: CRM), the enterprise cloud computing company, today announced results for its fiscal second quarter ended July 31, 2009.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050216/SFW105LOGO)
"We are pleased to report record revenue and GAAP earnings per share for our fiscal second quarter," said Marc Benioff, chairman and CEO, salesforce.com. "We added 3,900 net new customers, bringing our total to more than 63,000, with our Service Cloud turning in its best quarter ever."
Salesforce.com delivered the following results for the second quarter:
Revenue: Total Q2 revenue was $316.1 million, an increase of 20% on a year-over-year basis. Subscription and support revenues were $293.4 million, an increase of 22% on a year-over-year basis. Professional services and other revenues were $22.6 million, a decrease of 3% on a year-over-year basis.
Earnings per Share: Q2 GAAP diluted earnings per share were approximately $0.17, including approximately $20.9 million in stock based compensation expense and approximately $2.2 million in amortization of purchased intangibles related to previously announced acquisitions. For purposes of the Q2 GAAP EPS calculations, there was an average of approximately 127 million diluted shares outstanding during the quarter.
Customers: Net paying customers rose approximately 3,900 during the quarter to finish at approximately 63,200. Compared with the year ago quarter, net paying customers have grown by approximately 15,500 or 32%.
Cash: Cash from operations for the fiscal second quarter was approximately $45.9 million, down 14% year-over-year. Total cash, cash equivalents and marketable securities finished the quarter at approximately $1.03 billion, an increase of approximately $207 million from the year prior.
Deferred Revenue: Deferred revenue on the balance sheet as of July 31, 2009 was $549 million, an increase of 14% on a year-over-year basis.
As of August 20, 2009, salesforce.com is initiating guidance for its third quarter, fiscal year 2010. For its full fiscal year 2010, the company is raising its prior revenue guidance and EPS guidance.
Q3 FY10: Revenue for the company’s third fiscal quarter is projected to be in the range of approximately $323 million to approximately $324 million. GAAP diluted EPS is expected to be in the range of approximately $0.15 to approximately $0.16. Stock based compensation expense is expected to be approximately $20 million, and amortization of purchased intangibles of previously announced acquisitions is expected to be approximately $2.2 million. For purposes of the Q3 GAAP EPS calculation, the company is expecting an average diluted shares count of approximately 128 million shares, a GAAP tax rate of approximately 42% and a noncontrolling interest expense of approximately $600,000.
Full Year FY10: The company today is raising the full year revenue guidance it provided on May 21, 2009, with revenue now expected to be approximately $1.27 billion to approximately $1.28 billion. The company is also raising its earnings outlook for the full year, expecting GAAP diluted EPS to be in the range of approximately $0.60 to approximately $0.61. Stock based compensation expense is expected to be approximately $86 million, and amortization of purchased intangibles of previously announced acquisitions is currently expected to be approximately $9.3 million. For purposes of the full fiscal year 2010 GAAP EPS calculation, the company is expecting an average diluted shares count of approximately 127 million shares, a GAAP tax rate of approximately 42%, and a noncontrolling interest expense of approximately $2.8 million.
Quarterly Conference Call
Salesforce.com will host a conference call to discuss its second quarter fiscal 2010 results at 2:00 p.m. Pacific Daylight Time today. A live audio webcast of the conference call, together with detailed financial information, can be accessed through the company’s Investor Relations Web site at http://www.salesforce.com/investor. In addition, an archive of the webcast can be accessed through the same link. Participants who choose to call in to the conference call can do so by dialing domestically 866-901-SFDC or 866-901-7332 and internationally 706-902-1764. A replay will be available at (800) 642-1687 or (706) 645-9291, passcode 23838830, until midnight (EDT) September 10, 2009.
About salesforce.com
Salesforce.com is the enterprise cloud computing company. The company’s portfolio of Salesforce CRM applications, available at http://www.salesforce.com/products/, has revolutionized the ways that companies collaborate and communicate with their customers across sales, marketing and service. The company’s Force.com Platform (http://www.salesforce.com/platform/) enables customers, partners and developers to quickly build powerful business applications to run every part of the enterprise in the cloud. Based on salesforce.com’s (http://salesforce.com) real-time, multi-tenant architecture, Salesforce CRM and Force.com offer the fastest path to customer success with cloud computing.
As of July 31, 2009, salesforce.com manages customer information for approximately 63,200 customers including Allianz Commercial, Dell, Dow Jones Newswires, Japan Post, Kaiser Permanente, KONE, and SunTrust Banks.
Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase salesforce.com applications should make their purchase decisions based upon features that are currently available. Salesforce.com has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol "CRM". For more information please visit http://www.salesforce.com, or call 1-800-NO-SOFTWARE.
"Safe harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements about expected revenue and GAAP earnings per share for the third fiscal quarter of 2010 and for the full fiscal year 2010, and our expected tax rate, stock based compensation expense, amortization expense, noncontrolling interest expense, and shares outstanding, the achievement of which involve risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.
The risks and uncertainties referred to above include – but are not limited to – risks associated with possible fluctuations in our financial and operating results, rate of growth and anticipated revenue run rate; errors, interruptions or delays in our service or our Web hosting; breaches of our security measures; the financial impact of any future acquisitions; the nature of our business model; 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 existing and future services; changes in our sales cycle; competition; various financial aspects of our subscription model; unexpected increases in attrition or decreases in new business; the emerging market in which we operate; our ability to hire, retain and motivate our employees and manage our growth; changes in our customer base; technological developments; regulatory developments; litigation; unanticipated changes in our effective tax rate; and fluctuations in the number of shares we have outstanding, the price of such shares, foreign currency exchange rates, interest rates, and general developments in the economy, financial markets, and credit markets.
Further information on these and other factors that could affect our financial results is included in the reports on Forms 10-K, 10-Q and 8-K and in other filings we make with the Securities and Exchange Commission from time to time, including our Form 10-Q that will be filed for the quarter ended July 31, 2009 and our Form 10-K for the fiscal year ended January 31, 2009. These documents are available on the SEC Filings section of the Investor Information section of our website at www.salesforce.com/investor.
Salesforce.com, inc. assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
Copyright (c) 2009 salesforce.com, inc. All rights reserved. Salesforce and the "no software" logo are registered trademarks of salesforce.com, inc., and salesforce.com owns other registered and unregistered trademarks. Other names used herein may be trademarks of their respective owners.
salesforce.com, inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(Unaudited)
Three Months Ended Six Months Ended
July 31, July 31,
------------------ -----------------
2009 2008 2009 2008
---- ---- ---- ----
Revenues:
Subscription and support $293,440 $239,720 $575,208 $465,061
Professional services and other 22,621 23,357 45,777 45,638
------ ------ ------ ------
Total revenues 316,061 263,077 620,985 510,699
Cost of revenues (1):
Subscription and support 38,971 30,668 75,999 59,378
Professional services and other 23,525 23,423 48,297 46,011
------ ------ ------ ------
Total cost of revenues 62,496 54,091 124,296 105,389
Gross profit 253,565 208,986 496,689 405,310
Operating expenses (1):
Research and development 31,103 24,033 62,687 43,800
Marketing and sales 146,214 130,774 284,481 253,478
General and administrative 46,759 38,081 89,909 76,513
------ ------ ------ ------
Total operating expenses 224,076 192,888 437,077 373,791
Income from operations 29,489 16,098 59,612 31,519
Interest, net 7,454 6,708 11,776 13,430
Other expense (1,072) (840) (701) (1,603)
------ ---- ---- ------
Income before provision for income
taxes and noncontrolling interest 35,871 21,966 70,687 43,346
Provision for income taxes (14,030) (10,558) (29,853) (20,869)
------- ------- ------- -------
Consolidated net income 21,841 11,408 40,834 22,477
Less: Net income attributable to
noncontrolling interest (643) (1,412) (1,200) (2,926)
---- ------ ------ ------
Net income attributable to
salesforce.com $21,198 $9,996 $39,634 $19,551
======= ====== ======= =======
Earnings per share - basic
and diluted:
Basic net income per share
attributable to salesforce.com
common shareholders $0.17 $0.08 $0.32 $0.16
Diluted net income per share
attributable to salesforce.com
common shareholders $0.17 $0.08 $0.31 $0.16
Shares used in computing basic net
income per share 123,846 120,863 123,526 120,321
Shares used in computing diluted
net income per share 126,566 125,626 125,894 125,091
(1) Amounts include stock-based
expenses, as follows:
Cost of revenues $3,171 $2,657 $6,327 $5,332
Research and development 2,950 2,259 6,034 4,358
Marketing and sales 9,317 8,749 19,259 16,870
General and administrative 5,439 5,219 10,920 10,389
salesforce.com, inc.
Condensed Consolidated Statements of Operations
As a percentage of total revenues:
(Unaudited)
Three Months Ended Six Months Ended
July 31, July 31,
-------- --------
2009 2008 2009 2008
---- ---- ---- ----
Revenues:
Subscription and support 93% 91% 93% 91%
Professional services and other 7 9 7 9
--- --- --- ---
Total revenues 100 100 100 100
Cost of revenues:
Subscription and support 12 12 12 12
Professional services and other 8 9 8 9
--- --- --- ---
Total cost of revenues 20 21 20 21
Gross profit 80 79 80 79
Operating expenses:
Research and development 10 9 10 8
Marketing and sales 46 50 46 50
General and administrative 15 14 14 15
--- --- --- ---
Total operating expenses 71 73 70 73
Income from operations 9 6 10 6
Interest, net 2 2 2 2
Other expense 0 0 (1) 0
--- --- --- ---
Income before provision for
income taxes and
noncontrolling interest 11 8 11 8
Provision for income taxes (4) (3) (5) (3)
--- --- --- ---
Consolidated net income 7 5 6 5
Less: Net income attributable to
noncontrolling interest 0 (1) 0 (1)
--- --- --- ---
Net income attributable
to salesforce.com 7% 4% 6% 4%
=== === === ===
Stock-based expenses as a
percentage of total revenues,
as follows:
Cost of revenues 1% 1% 1% 1%
Research and development 1 1 1 1
Marketing and sales 3 3 3 3
General and administrative 2 2 2 2
salesforce.com, inc.
Condensed Consolidated Balance Sheets
(in thousands)
July 31, January 31,
2009 2009
---- ----
(unaudited)
-----------
Assets
Current assets:
Cash and cash equivalents $246,169 $483,834
Short-term marketable securities 173,957 213,769
Accounts receivable, net 168,842 266,555
Deferred commissions 36,370 39,384
Deferred income taxes 26,827 31,900
Prepaid expenses and other current
assets 49,153 33,115
------ ------
Total current assets 701,318 1,068,557
Marketable securities, noncurrent 610,280 184,962
Fixed assets, net 96,470 77,027
Deferred commissions, noncurrent 15,457 17,699
Deferred income taxes, noncurrent 29,865 26,589
Capitalized software, net 28,981 29,989
Goodwill 44,872 44,872
Other assets, net 29,284 30,127
------ ------
Total assets $1,556,527 $1,479,822
========== ==========
Liabilities and stockholders' equity
Current liabilities:
Accounts payable $13,389 $16,379
Accrued expenses and other current
liabilities 157,604 163,205
Income taxes payable 2,759 3,619
Deferred revenue 538,836 583,763
------- -------
Total current liabilities 712,588 766,966
Income taxes payable, noncurrent 16,579 12,490
Long-term lease liabilities and other 14,796 7,616
Deferred revenue, noncurrent 10,174 10,263
------ ------
Total liabilities 754,137 797,335
salesforce.com stockholders' equity:
Common stock 124 123
Additional paid-in capital 727,533 648,724
Accumulated other comprehensive loss (2,016) (2,905)
Retained earnings 65,476 25,842
------ ------
Total stockholders' equity
controlling interest 791,117 671,784
Total stockholders' equity
noncontrolling interest 11,273 10,703
------ ------
Total stockholders' equity 802,390 682,487
------- -------
Total liabilities and stockholders'
equity $1,556,527 $1,479,822
========== ==========
salesforce.com, inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
Three Months Ended Six Months Ended
July 31, July 31,
------------------- -----------------
2009 2008 2009 2008
---- ---- ---- ----
Operating activities:
Consolidated net income $21,841 $11,408 $40,834 $22,477
Adjustments to reconcile net
income to net
cash provided by operating
activities:
Depreciation and amortization 12,144 8,870 24,289 17,028
Amortization of deferred
commissions 15,315 13,907 30,261 28,630
Expenses related to stock-
based awards 20,877 18,884 42,540 36,949
Excess tax benefits from
employee
stock plans (15,687) (11,843) (25,135) (24,541)
Changes in assets and
liabilities:
Accounts
receivable, net (22,816) (3,073) 97,870 73,079
Deferred commissions (14,136) (14,232) (25,005) (26,882)
Prepaid expenses and other
current assets 1,308 (978) (1,819) (6,093)
Other assets 2,683 1,738 (118) 2,514
Accounts payable (2,368) (5,507) (2,990) 6,330
Accrued expenses and other
current liabilities 27,057 24,652 8,120 8,764
Deferred revenue (363) 9,249 (45,016) (1,348)
------ ------ ------- -------
Net cash provided by
operating activities 45,855 53,075 143,831 136,907
------ ------ ------- -------
Investing activities:
Changes in marketable securities (138,393) (25,118) (381,031) (8,578)
Capital expenditures (19,328) (13,036) (32,756) (37,213)
-------- ------- -------- -------
Net cash used in investing
activities (157,721) (38,154) (413,787) (45,791)
-------- ------- -------- -------
Financing activities:
Proceeds from the exercise of
stock options 5,139 22,525 14,307 34,010
Excess tax benefits from employee
stock plans 15,687 11,843 25,135 24,541
Principal payments on capital
lease obligations (2,258) - (3,506) (5)
-------- --- -------- ---
Net cash provided by
financing activities 18,568 34,368 35,936 58,546
------ ------ ------ ------
Effect of exchange rate changes (2,238) (794) (3,645) (1,714)
------ ---- ------ ------
Net (decrease) increase in cash
and cash equivalents (95,536) 48,495 (237,665) 147,948
Cash and cash equivalents,
beginning of period 341,705 378,548 483,834 279,095
------- ------- ------- -------
Cash and cash equivalents,
end of period $246,169 $427,043 $246,169 $427,043
======== ======== ======== ========
salesforce.com, inc.
Additional Metrics
(Unaudited)
July 31, April 30, Jan 31, Oct 31, Jul 31, Apr 30,
2009 2009 2009 2008 2008 2008
---- ---- ---- ---- ---- ----
Full Time
Equivalent
Headcount 3,653 3,607 3,566 3,318 3,046 2,864
Financial data
(in thousands):
Cash, cash
equivalents
and
marketable
securities $1,030,406 $983,824 $882,565 $804,606 $823,417 $750,633
Deferred
revenue,
current and
noncurrent $549,010 $549,373 $594,026 $469,534 $479,546 $470,297
Three Months Ended Six Months Ended
July 31, July 31,
---------------- ----------------
2009 2008 2009 2008
---- ---- ---- ----
Revenues by geography
(in thousands):
Americas $226,008 $188,563 $446,658 $366,934
Europe 55,992 49,356 107,594 94,520
Asia Pacific 34,061 25,158 66,733 49,245
------ ------ ------ ------
$316,061 $263,077 $620,985 $510,699
======== ======== ======== ========
As a percentage of
total revenues:
Revenues by geography:
Americas 72% 72% 72% 72%
Europe 18 19 17 19
Asia Pacific 10 9 11 9
--- --- --- ---
100% 100% 100% 100%
=== === === ===
Regards,
Nandita
Nandita Kanwar
Account Manager
Vox Public Relations
9811996827
E-mail: nanditak@voxpr.co.in
2nd Floor, TDI Centre
Plot no. 7
Jasola
New Delhi – 110025
[Press Release] IET to host International Conference on Cloud Computing on September 15-16, 2009 in Bangalore
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