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PR Newswire

L-com Launches Ruggedized USB 3.0 Cable Assemblies with Die-Cast Shells and Thumbscrews

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IRVINE, California, May 8, 2020 /PRNewswire/ — L-com, an Infinite Electronics brand and a preferred manufacturer of wired and wireless connectivity products, announced today that it has launched a new series of ruggedized USB 3.0 cables that feature die-cast metal back shells and optional thumbscrews that are commonly used in machine vision applications. 

L-com’s new CAU3DCVIS-series cables were developed to address demanding connectivity applications including industrial and factory automation, process engineering, machine vision, data acquisition and PLC communications.

These unique and hard to find cables feature specialized die-cast back shells with optional thumbscrews for securing the connectors to ensure connectivity is not disrupted in the event of pull or impact. The cables are available off-the-shelf with the following connector combinations: Type-A male to Micro-B male, Type-A male to Type-C male and Type-A male to Type-B male. Other features include black PVC cable jackets, double shielding and 22AWG power conductors which provide maximum USB power transfer.

“Our new ruggedized USB 3.0 cables are perfect for use in industrial settings where high vibration, impacts and other harsh conditions prevail. These unique cables can be mated to any standard USB 3.0 Type-A jack and allow for the use of thumbscrews for applications requiring extra secure connections,” said Dustin Guttadauro, Product Line Manager.

L-com’s new ruggedized USB 3.0 cable assemblies with die-cast back shells are in-stock and available for immediate shipment.

About L-com:

L-com, a leading manufacturer of wired and wireless connectivity products, offers a wide range of solutions and unrivaled customer service for the electronics and data communications industries. The company’s product portfolio includes cable assemblies, connectors, adapters, antennas, enclosures, surge protectors and more. L-com is headquartered in North Andover, Mass., is ISO 9001: 2015 certified and many of its products are UL® recognized. L-com is an Infinite Electronics brand.

About Infinite Electronics:

Based in Irvine, Calif., Infinite Electronics offers a broad range of components, assemblies and wired/wireless connectivity solutions, serving the aerospace/defense, industrial, government, consumer electronics, instrumentation, medical and telecommunications markets. Infinite’s brands include Pasternack, Fairview Microwave, L-com, MilesTek, Aiconics, KP Performance Antennas, PolyPhaser, Transtector, RadioWaves, ShowMe Cables, INC-Installs and Integra Optics. Infinite Electronics serves a global engineering customer base with deep technical expertise and support, with one of the broadest inventories of products available for immediate shipment.

Press Contact:

Peter McNeil
L-com
17792 Fitch
Irvine, CA
978-682-6936

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PR Newswire

51job, Inc. Reports First Quarter 2020 Financial Results

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SHANGHAI, May 8, 2020 /PRNewswire/ — 51job, Inc. (Nasdaq: JOBS) (“51job” or the “Company”), a leading provider of integrated human resource services in China, announced today its unaudited financial results for the first quarter of 2020 ended March 31, 2020.

First Quarter 2020 Financial Highlights:

  • Net revenues decreased 13.2% over Q1 2019 to RMB791.1 million (US$111.7 million)
  • Online recruitment services revenues decreased 10.8%
  • Other human resource related revenues decreased 18.2%
  • Income from operations was RMB170.0 million (US$24.0 million)
  • Fully diluted earnings per share was RMB3.02 (US$0.43)
  • Excluding share-based compensation expense, gain from foreign currency translation and change in fair value of equity securities investment, as well as the related tax effect of these items, non-GAAP adjusted fully diluted earnings per share was RMB3.27 (US$0.46), which exceeded the Company’s expectations
  • Cash and short-term investments balance increased to RMB11,231.1 million (US$1,586.1 million) as of March 31, 2020

Commenting on the results, Rick Yan, President and Chief Executive Officer of 51job, said, “Despite a decline in revenues and profitability in the first quarter that reflected the significant impact of the COVID-19 pandemic on economic activity and recruitment market demand in China, I’m very proud of how quickly our 51job team has rallied together to adapt to these unprecedented circumstances.  Tapping into our large HR services ecosystem of innovative solutions and strategic partners, we are assisting and supporting employers, workers and job seekers in every possible way, including contactless services such as online job fairs, AI assessment and video interviewing.  Although companies have resumed operations and employees have returned to work, the current market sentiment is still cautious and uncertain due to the ongoing pandemic and its unpredictable consequences on China and globally.  But we have confidence in our proven business model, and with our ample financial resources, we remain committed to leading with high quality services, improving the user experience and driving operational excellence, all of which will position and strengthen 51job to capture more opportunities in the future.”

First Quarter 2020 Unaudited Financial Results

Net revenues for the first quarter ended March 31, 2020 were RMB791.1 million (US$111.7 million), a decrease of 13.2% from RMB911.9 million for the same quarter in 2019.

Online recruitment services revenues for the first quarter of 2020 were RMB547.0 million (US$77.3 million), representing a 10.8% decrease from RMB613.4 million for the same quarter of the prior year.  The decline was due to the disruptive social and economic impact of the COVID-19 pandemic on companies in China, including temporary office and facility closures, travel restrictions and quarantines, which hindered business operations, reduced recruitment demand and curtailed employer spending on the Company’s online recruitment platforms in the first quarter of 2020.

Other human resource related revenues for the first quarter of 2020 decreased 18.2% to RMB244.1 million (US$34.5 million) from RMB298.5 million for the same quarter in 2019.  The decrease was primarily due to fewer in-person training seminars and recruitment events conducted in the first quarter of 2020 as a result of the COVID-19 pandemic and the restrictions instituted on public gatherings.

Gross profit for the first quarter of 2020 was RMB536.8 million (US$75.8 million) compared with RMB662.5 million for the same quarter of the prior year.  Gross margin, which is gross profit as a percentage of net revenues, was 67.9% in the first quarter of 2020 compared with 72.7% for the same quarter in 2019.  The decrease in gross margin was primarily due to a lower level of revenues in the first quarter of 2020 while cost of services increased 2.0% from the year-ago quarter, mainly as a result of greater employee compensation expenses which were largely offset by less direct costs related to training and recruitment events.

Operating expenses for the first quarter of 2020 decreased 3.2% to RMB366.8 million (US$51.8 million) from RMB379.0 million for the same quarter in 2019.  Sales and marketing expenses for the first quarter of 2020 decreased 4.3% to RMB276.2 million (US$39.0 million) from RMB288.7 million for the same quarter of the prior year primarily due to a decrease in performance-based bonuses and selling expenses, which was partially offset by greater spending on advertising and promotion activities.  General and administrative expenses for the first quarter of 2020 were RMB90.6 million (US$12.8 million), slightly higher than RMB90.2 million for the same quarter of the prior year.

Income from operations for the first quarter of 2020 was RMB170.0 million (US$24.0 million) compared with RMB283.5 million for the first quarter of 2019.  Operating margin, which is income from operations as a percentage of net revenues, was 21.5% in the first quarter of 2020 compared with 31.1% for the same quarter in 2019.  Excluding share-based compensation expense, operating margin would have been 26.2% in the first quarter of 2020 compared with 34.3% for the same quarter in 2019.

The Company recognized a gain from foreign currency translation of RMB10.2 million (US$1.4 million) in the first quarter of 2020 compared with RMB13.8 million in the first quarter of 2019 primarily due to the impact of the change in exchange rate between the Renminbi and the U.S. dollar on the Company’s U.S. dollar cash deposits.

In the first quarter of 2020, the Company recognized a mark-to-market, non-cash gain of RMB9.9 million (US$1.4 million) associated with a change in fair value of equity securities investment in Huali University Group Limited, which is traded on the Hong Kong Stock Exchange.

Other income in the first quarter of 2020 included local government financial subsidies of RMB4.5 million (US$0.6 million) compared with RMB62.5 million in the first quarter of 2019.

Net income attributable to 51job for the first quarter of 2020 was RMB205.2 million (US$29.0 million) compared with net loss of RMB(84.8) million for the same quarter in 2019.  Fully diluted earnings per share for the first quarter of 2020 was RMB3.02 (US$0.43) compared with loss per share of RMB(1.38) for the same quarter in 2019.

In the first quarter of 2020, total share-based compensation expense was RMB37.1 million (US$5.2 million) compared with RMB29.3 million in the first quarter of 2019.

Excluding share-based compensation expense, gain from foreign currency translation, and changes in fair value of equity securities investment and convertible senior notes, as well as the related tax effect of these items, non-GAAP adjusted net income attributable to 51job for the first quarter of 2020 was RMB222.3 million (US$31.4 million) compared with RMB349.5 million for the first quarter of 2019.  Non-GAAP adjusted fully diluted earnings per share was RMB3.27 (US$0.46) in the first quarter of 2020 compared with RMB5.33 in the first quarter of 2019.

As of March 31, 2020, cash and short-term investments totaled RMB11,231.1 million (US$1,586.1 million) compared with RMB9,940.6 million as of December 31, 2019.

Business Outlook

Based on current market and operating conditions, the Company’s net revenues target for the second quarter of 2020 is in the estimated range of RMB775 million to RMB825 million (US$109.5 million to US$116.5 million). Excluding share-based compensation expense, any gain or loss from foreign currency translation and any change in fair value of equity securities investment, as well as the related tax effect of these items, the Company’s non-GAAP fully diluted earnings target for the second quarter of 2020 is in the estimated range of RMB4.35 to RMB4.85 (US$0.61 to US$0.68) per share, which factors in the receipt of local government financial subsidies of approximately RMB120 million (US$17.4 million) in the second quarter of 2020. The Company expects total share-based compensation expense in the second quarter of 2020 to be in the estimated range of RMB37 million to RMB39 million (US$5.2 million to US$5.5 million). The above forecast reflects 51job’s current and preliminary view, which is subject to change and substantial uncertainty.

Guidance for earnings per share is provided on a non-GAAP basis due to the inherent difficulty in forecasting the future impact of certain items, such as gain/loss from foreign currency translation and change in fair value of equity securities investment. The Company is not able to provide a reconciliation of these non-GAAP items to expected reported GAAP earnings per share, without unreasonable efforts, due to the unknown effect and potential significance of such future impact.

Currency Convenience Translation

For the convenience of readers, certain Renminbi amounts have been translated into U.S. dollar amounts at the rate of RMB7.0808 to US$1.00, the noon buying rate on March 31, 2020 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal Reserve Board.

Conference Call Information

The Company’s management will hold a conference call at 9:00 p.m. Eastern Time on May 7, 2020 (9:00 a.m. Beijing / Hong Kong time zone on May 8, 2020) to discuss its first quarter 2020 financial results, operating performance and business outlook.  To dial in to the call, please use the following telephone numbers:

US: +1-888-346-8982
International: +1-412-902-4272
Hong Kong: +852-3018-4992
Conference ID: 51job

The call will also be available live and on replay through 51job’s investor relations website, http://ir.51job.com.

Use of Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with United States Generally Accepted Accounting Principles (“GAAP”), 51job uses non-GAAP financial measures of income before income tax expense, income tax expense, adjusted net income, adjusted net income attributable to 51job and adjusted earnings per share, which are adjusted from results based on GAAP to exclude share-based compensation expense, gain from foreign currency translation, and changes in fair value of equity securities investment and convertible senior notes, as well as the related tax effect of these items.  The Company believes excluding share-based compensation expense and its related tax effect from its non-GAAP financial measures is useful for its management and investors to assess and analyze the Company’s core operating results as such expense is not directly attributable to the underlying performance of the Company’s business operations and do not impact its cash earnings.  The Company believes excluding gain from foreign currency translation, and changes in fair value of equity securities investment and convertible senior notes, as well as the related tax effect, from its non-GAAP financial measures is useful for its management and investors as such translation, mark-to-market gain or loss is not indicative of the Company’s core business operations and will not result in cash settlement nor impact the Company’s cash earnings.  51job also believes these non-GAAP financial measures excluding share-based compensation expense, gain from foreign currency translation, and changes in fair value of equity securities investment and convertible senior notes, as well as the related tax effect of these items, are important in helping investors to understand the Company’s current financial performance and future prospects and to compare business trends among different reporting periods on a consistent basis.  The presentation of these additional measures should not be considered a substitute for or superior to GAAP results or as being comparable to results reported or forecasted by other companies.  The non-GAAP measures have been reconciled to GAAP measures in the attached financial statements.

About 51job

Founded in 1998, 51job is a leading provider of integrated human resource services in China.  With a comprehensive suite of HR solutions, 51job meets the needs of enterprises and job seekers through the entire talent management cycle, from initial recruitment to employee retention and career development.  The Company’s main online recruitment platforms (http://www.51job.com, http://www.yingjiesheng.com, http://www.51jingying.com, http://www.lagou.com, and http://www.51mdd.com), as well as mobile applications, connect millions of people with employment opportunities every day.  51job also provides a number of other value-added HR services, including business process outsourcing, training, professional assessment, campus recruitment, executive search and compensation analysis.  51job has a call center in Wuhan and a nationwide network of sales and service locations spanning more than 30 cities across China.

Contact

Linda Chien
Investor Relations, 51job, Inc.
Tel: +86-21-6879-6250
Email: ir@51job.com

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “targets, “confident” and similar statements. Among other things, statements that are not historical facts, including statements about 51job’s beliefs and expectations, the business outlook and quotations from management in this announcement, as well as 51job’s strategic and operational plans, are or contain forward-looking statements.  51job may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties.  All forward-looking statements are based upon management’s expectations at the time of the statements and involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: execution of 51job’s strategies and business plans; growth and trends of the human resource services industry in China; market acceptance of 51job’s products and services; competition in the industry; 51job’s ability to control costs and expenses; 51job’s ability to retain key personnel and attract new talent; relevant government policies and regulations relating to 51job’s industry, corporate structure and business operations; seasonality in the business; fluctuations in the value of the Renminbi against the U.S. dollar and other currencies; risks related to acquisitions or investments 51job has made or will make in the future; accounting adjustments that may occur during the quarterly or annual close or auditing process; and fluctuations in general economic and business conditions in China and globally, including the impact of the coronavirus or other pandemic.  Further information regarding these and other risks are included in 51job’s filings with the U.S. Securities and Exchange Commission.  All information provided in this press release and in the attachments is as of the date of the press release and based on assumptions that 51job believes to be reasonable as of this date, and 51job undertakes no obligation to update any forward-looking statement, except as required under applicable law.

51job, Inc.

Consolidated Statements of Operations and Comprehensive Income

For the Three Months Ended

March 31, 2019

March 31, 2020

March 31, 2020

(In thousands, except share and per share data)

(unaudited)

(unaudited)

(unaudited)

RMB

RMB

US$ (Note 1)

Revenues:

   Online recruitment services

613,376

547,017

77,254

   Other human resource related revenues

298,485

244,094

34,473

Net revenues

911,861

791,111

111,727

Cost of services (Note 2)

(249,364)

(254,303)

(35,914)

Gross profit

662,497

536,808

75,813

Operating expenses:

   Sales and marketing (Note 3)

(288,728)

(276,192)

(39,006)

   General and administrative (Note 4)

(90,243)

(90,642)

(12,801)

Total operating expenses

(378,971)

(366,834)

(51,807)

Income from operations

283,526

169,974

24,006

Gain from foreign currency translation

13,780

10,171

1,436

Interest and investment income, net

32,556

44,315

6,258

Change in fair value of equity securities investment

—

9,891

1,397

Change in fair value of convertible senior notes

(418,786)

—

—

Other income, net

62,328

4,335

612

Income (Loss) before income tax expense

(26,596)

238,686

33,709

Income tax expense

(60,056)

(36,771)

(5,193)

Net income (loss)

(86,652)

201,915

28,516

Net loss attributable to non-controlling interests

1,836

3,331

470

Net income (loss) attributable to 51job, Inc.

(84,816)

205,246

28,986

Net income (loss)

(86,652)

201,915

28,516

Other comprehensive income (loss)

(318)

308

43

Total comprehensive income (loss)

(86,970)

202,223

28,559

Earnings (Loss) per share:

   Basic

(1.38)

3.07

0.43

   Diluted (Note 5)

(1.38)

3.02

0.43

Weighted average number of common shares outstanding:

   Basic

61,645,331

66,802,054

66,802,054

   Diluted

61,645,331

68,005,680

68,005,680

Notes:

(1) The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB7.0808

to US$1.00 on March 31, 2020 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical

release of the Federal Reserve Board.

(2) Includes share-based compensation expense of RMB4,661 and RMB5,917 (US$836) for the three months ended 

March 31, 2019 and 2020, respectively.

(3) Includes share-based compensation expense of RMB4,007 and RMB5,087 (US$718) for the three months ended

March 31, 2019 and 2020, respectively.

(4) Includes share-based compensation expense of RMB20,618 and RMB26,120 (US$3,689) for the three months ended

March 31, 2019 and 2020, respectively.

(5) Diluted loss per share for the three months ended March 31, 2019 was calculated in accordance with the

“if converted” method. The potential conversion of the convertible senior notes was excluded in the computation of diluted

loss per share for the three months ended March 31, 2019 because the effect would be anti-dilutive. The impact of share

options was also excluded in the computation of diluted loss per share for the three months ended March 31, 2019

because the effect would be anti-dilutive. On April 15, 2019, the convertible senior notes matured, and the note holders

requested the conversion of the senior notes into 4,035,664 shares.

51job, Inc.

Reconciliation of GAAP and Non-GAAP Results

For the Three Months Ended

March 31, 2019

March 31, 2020

March 31, 2020

(In thousands, except share and per share data)

(unaudited)

(unaudited)

(unaudited)

RMB

RMB

US$ (Note 1)

GAAP income (loss) before income tax expense

(26,596)

238,686

33,709

Add: Share-based compensation

29,286

37,124

5,243

Less: Gain from foreign currency translation

(13,780)

(10,171)

(1,436)

Less: Change in fair value of equity securities investment

—

(9,891)

(1,397)

Add: Change in fair value of convertible senior notes

418,786

—

—

Non-GAAP income before income tax expense

407,696

255,748

36,119

GAAP income tax expense

(60,056)

(36,771)

(5,193)

Tax effect of non-GAAP line items

8

(31)

(4)

Non-GAAP income tax expense

(60,048)

(36,802)

(5,197)

Non-GAAP adjusted net income

347,648

218,946

30,922

Non-GAAP adjusted net income attributable to 51job, Inc.

349,484

222,277

31,392

Non-GAAP adjusted earnings per share:

   Basic

5.67

3.33

0.47

   Diluted (Note 2)

5.33

3.27

0.46

Weighted average number of common shares outstanding:

   Basic

61,645,331

66,802,054

66,802,054

   Diluted

67,336,334

68,005,680

68,005,680

Notes:

(1) The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB7.0808

to US$1.00 on March 31, 2020 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical

release of the Federal Reserve Board.

(2) Diluted earnings per share for the three months ended March 31, 2019 was calculated in accordance with the “if

converted” method. This included the add-back of interest expense of RMB9,403 related to the convertible senior notes

to the numerator of non-GAAP adjusted net income attributable to 51job for the three months ended March 31, 2019.

The maximum number of 4,035,672 potentially converted shares related to the convertible senior notes was added to the

denominator of diluted common shares for the three months ended March 31, 2019. On April 15, 2019, the convertible

senior notes matured, and the note holders requested the conversion of the senior notes into 4,035,664 shares.

51job, Inc.

Consolidated Balance Sheets

As of

December 31,
2019

March 31,
2020

March 31,
2020

(In thousands, except share and per share data)

(unaudited)

(unaudited)

(unaudited)

RMB

RMB

US$ (Note 1)

ASSETS

Current assets:

Cash

2,294,904

2,899,211

409,447

Restricted cash

66,169

3,085

436

Short-term investments

7,645,686

8,331,892

1,176,688

Accounts receivable (net of allowance of RMB21,952 and

  RMB19,344 as of December 31, 2019 and March 31, 2020,

  respectively)

266,437

211,017

29,801

Prepayments and other current assets

669,208

184,437

26,047

Total current assets

10,942,404

11,629,642

1,642,419

Non-current assets:

Long-term investments

1,482,544

1,495,713

211,235

Property and equipment, net

271,932

268,239

37,883

Goodwill

1,036,124

1,036,124

146,329

Intangible assets, net

203,162

192,612

27,202

Right-of-use assets

320,809

313,250

44,239

Other long-term assets

10,420

12,537

1,770

Deferred tax assets

22,147

24,527

3,464

Total non-current assets

3,347,138

3,343,002

472,122

Total assets

14,289,542

14,972,644

2,114,541

LIABILITIES, MEZZANINE EQUITY AND EQUITY

Current liabilities:

Accounts payable

48,114

75,234

10,625

Salary and employee related accrual

162,775

111,389

15,731

Taxes payable

267,596

131,891

18,627

Advance from customers

1,108,518

979,627

138,350

Lease liabilities, current

34,817

35,591

5,026

Other payables and accruals

1,211,642

1,924,001

271,721

Total current liabilities

2,833,462

3,257,733

460,080

Non-current liabilities:

Lease liabilities, non-current

50,763

45,775

6,465

Deferred tax liabilities

214,307

209,679

29,612

Total non-current liabilities

265,070

255,454

36,077

Total liabilities

3,098,532

3,513,187

496,157

Mezzanine equity:

Redeemable non-controlling interests

216,974

213,298

30,123

Shareholders’ equity:

Common shares (US$0.0001 par value: 500,000,000 shares

  authorized, 66,784,688 and 66,902,685 shares issued and

  outstanding as of December 31, 2019 and March 31, 2020,

  respectively)

53

54

8

Additional paid-in capital

4,901,466

4,967,497

701,545

Statutory reserves

17,930

17,930

2,532

Accumulated other comprehensive income

254,524

254,832

35,989

Retained earnings

5,774,358

5,979,604

844,481

Total 51job, Inc. shareholders’ equity

10,948,331

11,219,917

1,584,555

Non-controlling interests

25,705

26,242

3,706

Total equity

10,974,036

11,246,159

1,588,261

Total liabilities, mezzanine equity and equity

14,289,542

14,972,644

2,114,541

Note (1): The conversion of Renminbi amounts into U.S. dollar amounts is based on the noon buying rate of RMB7.0808 to US$1.00

on March 31, 2020 in New York for cable transfers of Renminbi as set forth in the H.10 weekly statistical release of the Federal

Reserve Board.

Cision View original content:http://www.prnewswire.com/news-releases/51job-inc-reports-first-quarter-2020-financial-results-301054710.html

Source: 51job, Inc.

PR Newswire

Ribbon Announces Management Change

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WESTFORD, Mass., May 8, 2020 /PRNewswire/ — Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real time communications software and network solutions to service providers, enterprises, and critical infrastructure sectors, today announced that the President and CEO of ECI Telecom Ltd. (“ECI”), Darryl Edwards, has departed Ribbon at the end of April as planned. Since the completion of the combination of Ribbon and ECI on March 3, 2020, Mr. Edwards has been an advisor to Bruce McClelland, CEO and President of Ribbon.

Mr. Edwards joined ECI in June 2012, with the goal of re-establishing ECI’s reputation for innovation and breaking boundaries in the telecommunications industry. Under his leadership, ECI has made significant investments in research and development and refreshed its product portfolio with new packet and optical product lines, making the transition to software defined networking (SDN) and network functions virtualization (NFV).

“We’re immensely grateful for the great work that Darryl has done in cementing ECI’s place as an innovation leader in the packet and optical networking space,” said Mr. McClelland.  “We are now very focused on executing on our strategy to significantly scale the ECI business by leveraging the strong foundation that Ribbon has with major Service Providers and Enterprise customers around the world, particularly as we enter the 5G networking era.”

“It has been a great pleasure to lead ECI for the past eight years. During this time, the industry has changed dramatically, and so did ECI,” added Mr. Edwards. “When I became CEO of ECI, we had to re-assert ECI’s innovation and put it back at the heart of the company. We’ve since become a pioneer in the industry, supporting a large number of customers, helping them realize their ambitions with our unique elastic network philosophy and approach. The merger with Ribbon is a natural and positive next step for ECI as it looks to continue to expand its global presence.” 

About Ribbon
Ribbon Communications (Nasdaq: RBBN), which recently merged with ECI Telecom Group, delivers global communications software and network solutions to service providers, enterprises and critical infrastructure sectors. We engage deeply with our customers, helping them modernize their networks for improved competitive positioning and business outcomes in today’s smart, always-on and data-hungry world. Our innovative, end-to-end solutions portfolio delivers unparalleled scale, performance, and agility, including core to edge IP solutions, UCaaS/ CPaaS cloud offers, leading-edge software security and analytics tools, as well as packet and optical networking leveraging ECI’s Elastic Network technology.  To learn more about Ribbon, visit rbbn.com and for more information about our packet and optical networking portfolio, visit ecitele.com.

Important Information Regarding Forward-Looking Statements  
 The information in this release contains forward-looking statements regarding future events that involve risks and uncertainties. All statements other than statements of historical facts contained in this release are forward-looking statements. The actual results of Ribbon Communications may differ materially from those contemplated by the forward-looking statements. For further information regarding risks and uncertainties associated with Ribbon Communications’ business, please refer to the “Risk Factors” section of Ribbon Communications’ most recent annual or quarterly report filed with the SEC. Any forward-looking statements represent Ribbon Communications’ views only as of the date on which such statement is made and should not be relied upon as representing Ribbon Communications’ views as of any subsequent date. While Ribbon Communications may elect to update forward-looking statements at some point, Ribbon Communications specifically disclaims any obligation to do so.

Investor Relations
Monica Gould
+1 (212) 871-3927
IR@rbbn.com      

North American Press
Dennis Watson
+1 (214) 695-2224
dwatson@rbbn.com 

APAC, CALA & EMEA Press
Catherine Berthier
+1 (646) 741-1974
cberthier@rbbn.com 

Analyst Relations
Michael Cooper
+1 (708) 383-3387
mcooper@rbbn.com

Logo: https://techent.tv/wp-content/uploads/2020/05/ribbon-announces-management-change.jpg 

Source: Ribbon Communications Inc.

PR Newswire

Redtea Mobile Supports the Implementation of Integrated nuSIM for IoT

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SINGAPORE, May 7, 2020 /PRNewswire/ — Redtea Mobile, the pioneering connectivity solution provider has today announced that it has developed the trusted application to support the implementation launch of nuSIM solution, the integrated SIM for IoT, which brings clear benefits for cost efficiency, power consumption, and overall design simplicity, by moving the SIM function into the chipset.

The joint solution that for the first time fully integrates SIM functionality on a Qualcomm chipset has been developed in accordance with Deutsche Telekom’s open nuSIM specification. It consists of a nuSIM operating system from Redtea Mobile in a Quectel BG95 module which contains a Qualcomm LTE 9205 chipset. The new nuSIM chipsets will be an integral part of low-cost devices used in mobile IoT applications with a long life-span, such as asset trackers or smart sensors. 

“An important aspect of our vision is providing easy orchestration means for IoT devices to enjoy easy deployment and ubiquitous connectivity. In this case, the trusted application is the nuSIM operating system, which has been developed by us according to Deutsche Telekom’s open nuSIM specification,” says Xiaodong Guo, VP of Strategic Partnerships & Projects at Redtea Mobile. “It provides all functionality to receive an encrypted nuSIM profile and securely process the contained elements so that the result delivers the functionality of the classical SIM. “

Since introducing nuSIM initiative at the beginning of last year, Deutsche Telekom has worked with various industry leading partners including Redtea Mobile, on the basis of an open specification to demonstrate our shared value to the ecosystem from concept stage to real implementations.

“Redtea Mobile is on a mission to simplify connectivity for a more productive world. We are proud to have been working with Deutsche Telekom and world leading companies including Qualcomm and Quectel in the respective fields of IoT chipsets, modules and digital security. Through our joint efforts, mobile operator data is added in a secure process at the time of module or device manufacturing. The end customer gets instant connectivity without any additional steps,” adds Dr. Hui Jin, Co-founder and CEO at Redtea Mobile.

About Redtea Mobile

Redtea Mobile is a pioneering connectivity service provider established to develop eSIM core technology and make it valuable for industry verticals in regard to connectivity efficiency. By taking care of the complicated details of communications infrastructure and how cellular network works, Redtea is providing its customers (including mobile operators, device OEMs, chipset and module manufacturers) with a packaged connectivity service that is flexible, reliable, scalable, and simple enough to use, and has embedded its connectivity capability into over 250 million devices with global network resources covering 100+ countries and regions. Redtea is committed to being the world’s leading CaaS (Connectivity-as-a-Service) company that makes connectivity into utility. For more information, please visit www.redteamobile.com 

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PR Newswire

Get your spyglass out! Educational detective game launches worldwide for curious kids to play at home

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The Wollstonecraft Detective Agency: Thrilling adventure for young sleuths teaches coding, history and features famous women in STEM

VICTORIA, British Columbia, May 7, 2020 /PRNewswire/ — Best-selling children’s book series The Wollstonecraft Detective Agency is now available as a seriously fun, mystery-solving game for ages 9 and up.

“Parents and teachers are looking for high-quality, interactive resources for kids to explore from home right now,” says Mike Wozniewski, President of Hololabs, the innovative studio that released the game this week. “The Wollstonecraft Detective Agency helps children hone their reading, logic and computer programming skills by solving mysteries alongside famous historical figures.”

Set in fascinating 1820s London, this new mobile game takes players into the world of a young Mary Shelley and Ada Lovelace (the first computer programmer) as they search for clues and catch “clever criminals”. Humour, exploration and intrigue draw young players into brainteasers, with stories that celebrate science, history and friendship. 

Available now in App Stores, this educational and playful game includes more than 20 original mysteries written by the original series author Jordan Stratford and showcases 19th century female scientists, writers and inventors. “When my daughter was 9, I wanted her to have real-life role models in STEM,” says Stratford. “The game complements the book series in the recognition that kids can change the world with their curiosity and imagination.”

Players can put their detective skills to the test learning to code on Ada’s “bleh” machine (based on the world’s first computer), investigating suspicious crates on the Thames, questioning witnesses at a popular Piccadilly tea salon and puzzling over broken printing presses in Fleet Street. Children can even collect and listen to tracks on Ada’s augmented reality “Music Machine”.

Features

  • 20+ hours of story-based gameplay, plus endlessly replayable content
  • 100+ new vocabulary words and history facts to discover and collect
  • Historical content with a focus on famous female scientists
  • Whimsical design with beautifully-detailed London neighbourhoods
  • Multiple Mini-Activities: Hidden object searches, repair puzzles and pop “quizzlers”

Parents, teachers and kids can download a light version of the game for free to mobile devices right here:

iOS: https://apps.apple.com/app/the-wollstonecraft-agency/id1411451823?mt=8 
Android: https://play.google.com/store/apps/details?id=org.hololabs.wda

There are no subscription fees or ads. Unlock the full experience with a one-time purchase.

Trailer: http://www.youtube.com/watch?v=7aqt87UTPKQ 
Presskit: http://wollstonecraft.com/presskit.html 
Instagram: @wollstonecraft_game 
Twitter: @WollstDetAgency

Mike Wozniewski, +1-888-800-7746, info@hololabs.org

Photo – https://techent.tv/wp-content/uploads/2020/05/get-your-spyglass-out-educational-detective-game-launches-worldwide-for-curious-kids-to-play-at-home.jpg

PR Newswire

AUTOCRYPT Joins Car Connectivity Consortium (CCC)

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SEOUL, South Korea, May 7, 2020 /PRNewswire/ — AUTOCRYPT announced that the company has joined Car Connectivity Consortium (CCC), a cross-industry organization advancing global technologies for smartphone-centric car connectivity solutions, as the first cybersecurity company from the Asia Pacific. 

The consortium focuses on developing digital keys that let drivers to easily lock and unlock their cars, as well as starting the engine and sharing access to families or valets, using their smartphones. The goal is to make it possible for the drivers to simply connect and ride, no matter the device or vehicle.

By joining the consortium, AUTOCRYPT will contribute its technical expertise and participate in various projects related to digital key solutions performance evaluation and in establishing the international technical standards, commercialization, and enhancing the convenience of car-device connectivity. This comes with exchanging technologies between more than 120 global leading companies including BMW, Volvo, Hyundai, Volkswagen, Ford, Toyota, along with Apple, Samsung, LG Electronics, and Deutsche Telekom.

“The digital key itself became critical as it not only replaces the existing physical key but also oversees the convenience and safety of cars and driving”, said Daniel ES Kim, CEO of AUTOCRYPT. “Since the smart key security we provide to the United States, China, South Korea, Australia, and New Zealand is for certain OEMs, by joining the consortium and cooperating with the industry leaders, we believe that this advancing digital key solution of AUTOCRYPT’s will offer a secured environment regardless of vehicles and mobile devices and continue to lead the market.”

To date, AUTOCRYPT has been active by utilizing the provision of V2D communications, MaaS, and security services including authentication, authorization, certificate management within V2D infrastructures that are CCC compliant and interoperable. Moreover, AUTOCRYPT has proactively engaged in the development of the industry by participating in Penta Security’s projects with Hubject, International Transport Forum (OECD), and 5GAA. 

About AUTOCRYPT

As a leader in transportation security technologies, AUTOCRYPT’s mission is to enable safe transportation and mobility alike by focusing on securing connected vehicles.  Initially developed in-house at Penta Security in 2007, AUTOCRYPT spun off as a separate entity in 2019, carrying over more than a decade’s worth of experience and expertise.  Recognized as the “Best Auto Cybersecurity Product/Solution” by TU-Automotive, AUTOCRYPT continues to expand its global presence and offerings, providing comprehensive transportation security through a multi-layered, holistic approach.  AUTOCRYPT’s solution and services are utilized throughout various projects in support of securing in-vehicle networks as well as C-ITS related technologies, including V2X, RSU-based communications, and PKI.  Moreover, AUTOCRYPT enables secure EV charging through Plug&Charge (PnC), a simplified communications solution, as well as a secure mobility data platform and complementary fleet management systems.  For more information on AUTOCRYPT, visit www.autocrypt.io. For partnership inquiries, email marketing@autocrypt.io.

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PR Newswire

CooTek to Announce First Quarter 2020 Unaudited Financial Results on May 15, 2020

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SHANGHAI, May 7, 2020 /PRNewswire/ — CooTek (Cayman) Inc. (NYSE: CTK) (“CooTek” or the “Company”), a fast-growing global mobile internet company, today announced that it will report its unaudited financial results for the first quarter 2020 ended March 31, 2020, before the open of U.S. markets on Friday, May 15, 2020.

CooTek’s management team will host an earnings conference call at 8:00 AM U.S. Eastern Time on Friday, May 15, 2020 (8:00 PM Beijing Time on the same day).

Dial-in details for the earnings conference call are as follows:

United States:

1-888-346-8982

Hong Kong:

800-905-945

Mainland China:

4001-201-203

International:

1-412-902-4272

Please dial in 15 minutes before the call is scheduled to begin and provide the passcode to join the call.

A telephone replay of the call will be available after the conclusion of the conference call until 7:59 AM ET on May 22, 2020:

United States:

1-877-344-7529

International:

1-412-317-0088

Passcode:

10143997

A live and archived webcast of the conference call will be available on the Investor Relations section of CooTek’s website at https://ir.cootek.com/.

About CooTek (Cayman) Inc.

CooTek is a fast-growing mobile internet company with a global vision, offering mobile applications. Our mission is to empower everyone to enjoy relevant content seamlessly. The Company’s user-centric and data-driven approach has enabled it to release appealing products to capture mobile internet users’ ever-evolving content needs and helps it rapidly attract targeted users. CooTek has developed and brought to market content-rich mobile applications, focusing on three categories: online literature, casual games and scenario-based mobile apps.

For more information on CooTek, please visit https://ir.cootek.com/

For more information, please contact:

CooTek (Cayman) Inc.
Mr. Jacky Lin
ir@cootek.com

Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com  

In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

Cision View original content:http://www.prnewswire.com/news-releases/cootek-to-announce-first-quarter-2020-unaudited-financial-results-on-may-15-2020-301054506.html

PR Newswire

The outstanding camera phone – TECNO CAMON 15 Premier allows you to experience brilliant photography with big screen, big memory and big battery

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HONG KONG, May 6, 2020 /PRNewswire/ — The CAMON 15 series smartphone from TECNO Mobile (www.TECNOMobile.com) has begun its official sale, which means it’s time to dive deeper into this device that many people have heard so much about. Aside from its ultra-high resolution 64-megapixel camera, what are the features that make this phone the mobile photography powerhouse we’ve heard of from the first wave of pre-release users?

When speaking of the CAMON 15, two technologies must be mentioned that put it at the leading position in the market with its quad-camera smartphone technology: Ultra HD, and Super Night Mode. Powered by a 64MP Sony camera, Ultra HD is next-generation resolution performance, giving images that can be scaled up and zoomed in without sacrificing clarity. Meanwhile, Super Night Mode has everything to achieve that level of clarity even after nightfall, using TAIVOS™ technology to tame the wilderness that night shots have traditionally been for camera phone users, reducing noise and optimizing exposure levels with 15-frame synth.

With these two doing the heavy lifting, the CAMON 15 still manages to go further with the type of supporting features that help smartphone users get more out of their cameras in different shooting environments.

6.6’FHD+ Real Fullview, true big screen

While most of the competitors are equipped with 6.2″ or maybe to 6.5″ as the largest, the TECNO CAMON 15 Premier’s screen has a 6.6″ Perfect Full view, giving users a wider, clearer, and more colorful visual experience. The 91.2% super screen ratio and unibody pop-up camera design helps actualize the dream of an immersive, full view, cinematic experience. Users can enjoy a truly boundless screen.

The super big screen enables the 115-degree Super Wide-Angle visibility to be fully viewed. While taking photos with the 115° Super Wide Angle, it is needless to worry about failing to fully capture the grand scenery. The anti-distortion feature allows the scene be recorded as seen in reality.

128GB ROM + 6GB RAM, 4000mAh long-lasting battery, Powerful Performance

TECNO CAMON 15 Premier is armed with 128GB ROM + 6GB RAM and a 4000mAh long-lasting battery. 128GB ROM offers more space to store data, and relieves users of the need to frequently clean-up to get more storage. 6GB RAM provides a stable and highly efficient performance. Multitasking and gaming has become faster and smoother.

The 4000mAh powerful battery satisfies users’ need for a stable power supply in work and daily life.

Photo – https://photos.prnasia.com/prnh/20200506/2796215-1-a?lang=0
Photo – https://photos.prnasia.com/prnh/20200506/2796215-1-b?lang=0
Photo – https://photos.prnasia.com/prnh/20200506/2796215-1-c?lang=0

PR Newswire

Baidu to Report First Quarter 2020 Financial Results on May 18, 2020

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BEIJING, May 6, 2020 /PRNewswire/ — Baidu, Inc. (Nasdaq: BIDU), a leading search engine, knowledge and information centered Internet platform and AI company, today announced that it will report its financial results for the first quarter ended March 31, 2020, after the U.S. market closes on May 18, 2020. Baidu’s management will hold an earnings conference call at 9:15 PM on May 18, 2020, U.S. Eastern Time (9:15 AM on May 19, 2020, Beijing Time).

Please register in advance of the conference call using the link provided below. Upon registering, you will be provided with participant dial-in numbers, Direct Event passcode and unique registrant ID by email.

For pre-registration, please click http://apac.directeventreg.com/registration/event/7490173. It will automatically direct you to the registration page of “Baidu Q1 2020 Earnings Conference Call”, where you may fill in your details for RSVP. If it requires you to enter a participant conference ID, please enter “7490173”.

In the 10 minutes prior to the call start time, you may use the conference access information (including dial-in number(s), Direct Event passcode and unique registrant ID) provided in the confirmation email that you have received following your pre-registration.

Additionally, a live and archived webcast of this conference call will be available at http://ir.baidu.com.

A replay of the conference call may be accessed by phone at the following number until May 26, 2020:

International:

+61 2 8199 0299

Passcode:

7490173

About Baidu

Baidu, Inc. is a leading search engine, knowledge and information centered Internet platform and AI company. Baidu aims to make the complicated world simpler through technology. Baidu’s ADSs trade on the NASDAQ Global Select Market under the symbol “BIDU”. Currently, ten ADSs represent one Class A ordinary share.

For investor inquiries, please contact:

Investors Relations, Baidu, Inc.
Tel: +86-10-5992-8888
Email: ir@baidu.com

Cision View original content:http://www.prnewswire.com/news-releases/baidu-to-report-first-quarter-2020-financial-results-on-may-18-2020-301053793.html

Source: Baidu, Inc.

PR Newswire

Meete launched a program to support small and medium shops in Hanoi and Ho Chi Minh

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  • The non-profit program aims to join hands with the Government to support 2,000 stores to overcome difficulties by granting free services to both ensure macroeconomic stability and employment for workers.
  • This program will provide a (zero fee) solution that allows stores to create short-term cash flows during the social distancing period because of the COVID-19 pandemic.

HO CHI MINH CITY, Vietnam, May 6, 2020 /PRNewswire/ — Meete mobile application – Nguyen Group Joint Stock Company officially announced on April 22, 2020 that the company will start the program to support 2,000 small and medium-sized merchants in the food / drink / fashion / beauty / tourism industries in Hanoi and Ho Chi Minh under two forms: (1) free service grants with a total value of VND 3 billion and (2) – zero fee gift voucher sales targeted at VND 7.2 billion for merchants on Meete website.

Meete launched a program to support small and medium shops in Hanoi and Ho Chi Minh
Meete launched a program to support small and medium shops in Hanoi and Ho Chi Minh

Based on studies from National Economics University in Vietnam, so far on April 1st, 2020, 34,7% of businesses in Vietnam have been closed. Most of them, which are of low to medium scale, have not been able to access affordable bank’s interest rate policy due to lacking financial reports and other terms, as a result many merchants have to exit or shut down their business entirely. Hence, this program was initialized with the proactive attitude of the Vietnamese startup community to share the responsibilities of the government in balancing macroeconomic situations. This program is expected to help sustain merchant’s business in tough times by providing short term cash flow via gift vouchers sales and ensure jobs availability to decrease the Government support expenditure.

The program includes 2 methods, in detail:

The first one encourages merchants by granting free services to reduce operation costs at the re-opening period. These packages are the result of a corporation between service providing units such as wifi marketing, delivery, reservation, advertisement, product marketing, CRM, … , which is 10 – 30 million VND of value each one. Merchants can actively search for detailed information on Meete website. Currently, there are more than 30 partners supporting for the program, such as Địa Điểm Ăn Uống, Movad, VNwifi, Ahamove, … up to total of 1 billion VND out of expected goal of 3 billion VND. 

Merchant responds positively with these services due to its practicality and assurance of no extra fee. “Losing 30-50% total revenue compared to months before the quarantine period is the current situation of Otoké Chicken and Chewy Junior bakery. Our prior solution would be cutting off labor and reducing 40% salary, pushing delivery, setting up a discount program. The problem of every project is the limited budget, hence, this support service package will minimize the cost of delivery, advertisement, … especially, we aim to launch a cash gift voucher program, so that if we earn customer’s support, revenue in the short-term would increase without exceeding the budget and more employees would be cut off for the next 3 months.” said Mai Trường Giang – CEO TG FOOD.

Second method involves providing short-term operating cash flow solutions during the temporary quarantine period so that merchants could spend more on employment, rentals, …etc through customers purchasing in advance gift vouchers on Meete that could be used after the quarantine. These gift vouchers are to be purchased at a discount and can be used as e-gifts. Moreover, customers will receive cash back sponsored by Meete’s payment partner Zalo Pay up to 1 million VND depending on the purchase value. It is targeted that the total revenue will be up to 7.2 billion VND for merchants participating (zero fee on participating merchants). Currently, there are more than 100 merchants registered for gift voucher sales, and more than 30 organizations and communities join in and spread the program’s message.

“More and more Facebook & Zalo groups created by CEOs and manager stores to transfer and pass their businesses and even to express their fear of bankruptcy. ZaloPay decides to support Meete since they understand this program’s practicality, and is willing to shoulder the pressure of low-to-medium merchants. We believe that by standing together, we can come through this tough quarantine time.” said Ms Trang – Zalo Pay Marketing representative.

Let’s say a low-to-medium merchant owns 25 staffs, 2,000 merchants supported will result in saving 50,000 jobs. This will make a huge impact on the government’s public expenditure, while a lot of macroeconomy support projects remain in the planning stage.

Within the purpose of supporting the society through the severe effects of COVID-19, consumers and merchants can donate to the Ministry of Health’s Fighting COVID-19 fund via Meete website. Meete expects to raise 60 million VND funding for the next 2 months. 

Mr. Nguyễn Cảnh Dương – Nguyen Group CEO sharing “Individual and companies have been fighting with difficulties never happened with precedents. The business community in Vietnam is mostly of low-to-medium scale, which easily being affected by external threats, and Meete has stepped up with this zero-fee program to support and encourage merchants with managing cashflow solutions in short-term. By that, we hope to strengthen the relationship between Customer and Business, Business and Business, all together we will go through tough times and activate the spirit of Viet Nam startup, and associate with the government to settle the current situation.”

Meete Introduction:

Meete is a Marketing & Sales solution for local merchants, developed on both mobile application and website platforms, and has presence in HCM city and Hanoi. Meete supports merchants in broadening and maximizing touchpoints with the customer niches by means of advanced technical tools such as distributing discount vouchers to customers, managing reservations, CRM (Customer Relationship Management), food delivery and many more media services. Meete end-users will be the customers of merchants. By using Meete, they have access to exclusive deals from Meete merchants.

Photo – https://photos.prnasia.com/prnh/20200504/2793349-1?lang=0