text:
Avanex Corporation (AVNX) F1Q09 (Qtr End 09/30/08) Earnings Call Transcript November 6, 2008 4:30 PM ET
Pete Currillo [ph] – IR
Giovanni Barbarossa – Interim CEO
Mark Weinswig – VP, Finance & Interim CFO
John Harmon – Needham & Company
Paul Bonenfant – Morgan Keegan
Ajit Pai – Thomas Weisel Partners
Todd Kaufman – Raymond James
Good day, and welcome to the Avanex Corporation First Quarter Fiscal Year 2009 Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Pete Currillo [ph]. Please go ahead.
Pete Currillo
Thank you, everyone, for joining us today. I'd like to remind you all of -- I'd like to remind all of you today's call contains forward-looking statements about our expectations, future events, strategies and the performance of the Company. Forward-looking statements are subject to risks and uncertainties and actual results could differ materially from those projected or contemplated by the forward-looking statements.
We encourage you to look at the Company's most recent SEC filings, particularly, today's earnings release, our 8-K and our most recent 10-K. Avanex does not intend to update any forward-looking statement, including guidance, as a result of new developments or otherwise.
Additionally, in order to comply with SEC regulations, because non-GAAP information is presented on today's call, please note that Avanex has provided a reconciliation table and other information attached in today's earnings release and 8-K, which can be found in our Web site at www.avanex.com that will provide reconciliation on today's call.
I'd now like to turn the call over to Giovanni.
Giovanni Barbarossa
Thank you, Pete. Good afternoon and welcome to our 2009 fiscal first quarter earnings call. During today's call we'll be discussing the key events of the first quarter, the impact of macroeconomic trends on our business, and the Company's strategic direction.
Let's talk about the five key objectives that we accomplished in the first quarter. First, the awarding of design wins Tier 1 OEM and the improvement of our new product introduction process; second, the increase of market share with new customers; third, the implementation of Companywide cost saving initiatives; and fourth, the streamlining of our organizational structure.
The first important objective was design wins and new product introduction. We had a number of engagements with customers during the first fiscal quarter, which we will be discussing in more detail later in the call.
The second area of focus in the quarter was expanding our existing customer relationships. It is evident that customers believe Avanex is a strategic supplier for their optical components and module needs. For example, during the quarter, we saw strengthening from two of our largest customers, Alcatel-Lucent and Nortel, which each represented over 10% of total revenues. Nortel returned as a greater than 10% customer for the first time in over one year.
At the same time, we experienced a significant decline from one of our largest customers. We remain engaged with this customer on a number of new differentiated projects for future growth and we look forward to this customer returning to the 10% of total revenue in future quarters as business improves.
Sales in Asia were also relatively strong in the quarter, accounting for more than 21% of our revenue. We continue to see significant engagements there as we increase the level of design activities with the major OEMs in this region. I would like to point out that we're seeing strong opportunities for future growth in a number of markets within Asia.
Third, let's discuss the cost-saving program we implemented during the quarter. With the telecommunication industry seeing some clear sign of weakness, we believe it was critical to move fast to reduce our cost structure. The cost cutting initiatives included the reduction of roughly 11% of our headcount by consolidating the transmission module design activities into our existing facilities in France and China, the closing of our Florida facility and the streamlining of the organization.
In addition, we have implemented a number of other initiatives to reduce costs, including a 10% pay cut for all executives and the reduction of discretionary spending, such as travel, advertising and consulting. Total expense for the restructuring was $2.3 million, primarily for headcount related costs and future lease payments. The action taken in the first quarter will save the Company between $8 million and $10 million per year beginning in the second fiscal quarter.
A competitive advantage of Avanex business model is its low fixed cost structure. Through the action taken in the first fiscal quarter, our strong balance sheet and our flexible business model, we believe that we can weather the present downturn and outperform our peers.
And finally, the simplification of our company into a functional organization. A leaner, flatter structure is better suited to respond faster to customer requests, which we believe will assist in expediting time to market for new product. In addition, realizing synergies and better combination has we have placed the global R&D function under a single leader.
Before moving onto our discussion of revenue and design wins by product application, I would like to discuss a recent design engagement that we are really excited about. We've been selected by Tier 1 OEM to develop a new subsystem that leverages our amplifier, optical performance monitoring and Wavelength Selective Switch technology into a single WDM card. This opportunity is with a customer that has not been a 10% customer in recent times. We began to ship units in our third fiscal quarter ending March 31. In addition, we see this architecture being ubiquitous in next generation ROADM deployment and expect to see similar design wins available to us in the future.
Looking now to our three products groups. First, revenue for our transmission products, which includes transceivers, transponders and modulators was approximately one-third of the Company's revenue and one-third of our design wins came from transmission in the first fiscal quarter. The key drivers in this market include the move to tunable solutions at a higher transmission rate, such as 40G, new modulation format and longer transmission distances.
In our transmission product group we released a new modulator supporting ISP communication links at both 40G and 100G. We're also accelerating our product cost reduction strategies that include material costs and cycle time improvement. Within our transponder products, we are focusing our efforts on new lower cost solution on expanding our tunable product portfolio.
The transmission product group saw a number of design wins and engagements in the quarter. We are currently engaged with over ten customers for the 40G need and engaged with more than five customers on then 100G projects. While 40G and 100G are still small markets, we see them growing significantly in the future due to their invent cost advantages for service providers. Our 40G and 100G modular products are key enablers for these ISP networks.
Second, revenue from our regeneration products, which includes sophisticated control amplifiers, gain blocks, fixed and tunable dispersion compensation modules and the industry leading optical performance monitoring products were in approximately 50% of the Company's revenue and 60% of our design wins in the first fiscal quarter.
Avanex continues to be the technology and market leader in new generation products. With the market moving to lower cost of ownership networks, our intelligent generation products are best positioned to meet our customers needs.
We see a significant opportunity from the move to ISPs, such as 40G. The regeneration product group saw a number of design wins in the first fiscal quarter. Within amplification we are happy to announce the major design win of our Oasis control amplifier platform at a top European customer. This design win is significant because the products was previously supplied internally. After reviewing our technological differentiation and market leadership, the customer decided to start procuring their amplifier solutions from us.
We're currently seeing additional opportunities with respect to the make versus buy decisions of OEMs in the (inaudible) product application and we believe that we are the best positioned supplier to win captive business due to our technology, scale and market leadership. As a result, we expect to win more captive OEM amplified business in the near future. For example, we are already in the qualification stage with a tier one Asian customer to outsource a portion of their amplifier requirements in the future.
In dispersion compensation, we believe that we have the largest portfolio of dispersion compensating products in the world, including fiber, etalon and FBG's products, with etalon-based products being available in both fixed and tunable configuration.
We're focusing on expanding our footprint through the release of new products that address the rest of and summary networks at higher speed, such as 40G and compatible solution.
This quarter we had a tunable dispersion compensation design win for a 40G network from the tier one Asian customer. This OEM is providing the product for a major Asian network deployment with one of the largest carriers n the world in one of the fastest growing markets.
In the fixed dispersion market we are seeing some increased interest in our solutions due to their higher level of performance and cost competitiveness. As we announced at the ECO Trade Show we recently produced a low PMD solution to better serve market requirement.
In addition, we've been selected by a major North American OEM to develop a 2R optical regenerator that combines our amplifier and tunable dispersion compensation technology in a single platform. This subsystem product lowers costs, improves network performance and provides our customers with differentiated, integrated line card solution.
During the quarter we announced a partnership with StrataLight to work on a 100G testbed. While 100G is seen the flow of development, we believe that there are opportunities for our regeneration and transmission products as the market moves to higher and higher speeds.
Finally, revenue from wavelength management products, which includes both fixed and reconfigurable wavelength routing products was approximately 15% of the Company's revenue and contributed less than 10% of our design wins in the first fiscal quarter.
In our wavelength management product group we saw continued traction with the development of our wavelength selective switch product portfolio. Our wavelength selective switch product platform has significant opportunities with different configurations for a host of metro needs and applications.
We believe that our platform lends itself to reliable and cost effective differentiated solutions for our customers. We are currently engaged with the five tier one customers on their WSF [ph] needs.
In the September quarter, we started shipping beta units to a tier one Asian OEM customer. This customer will be using our products to deploy in Asia, one of the fastest growing markets for optical networking spending. We will be discussing further design wins in the future quarters.
Overall, we had an impressive quarter on the design win and new product engagement front and are excited about our opportunities to improve our competitive position. While the market is still uncertain because of the current macroeconomic environment, we're cautiously optimistic about our opportunities based on our leading technology and product portfolio.
Now let me take a few moments to discuss the market -- the current market environment. I witnessed first hand the downturn of 2001 and 2003 and understand that the key to winning during this challenging time is to move quickly to cut expenses while at the same time investing in new products and design win opportunities for the future.
At this point we do not know when the market environment would improve nor if it is -- stabilized. Unlike most of other competitors, we outsource the vast majority of our manufacturing, which allows us to quickly ramp production up or down when the business environment changes.
I would like now to outline the six aspects of the strategic direction that were implemented. First, we're improving our execution on new product introduction and time to market to better address customer needs. Second, we're working to further diversify our customer base to increase the number greater than 10% customers. Third, we're expanding our business opportunities by working with OEMs to address the current captive amplifier needs. As I mentioned above, this past quarter we had one design win and expect another win by next quarter. Fourth, we're expanding our technology leadership in subsystems by integrating our differentiated product platforms.
As we mentioned previously, one of these opportunities, which we are very excited about is the wavelength selective switch plus amplifier plus optical performance monitoring the line card that is expected to ship to a customer by the end of March. In addition, we're working with other customers on similar opportunities. Fifth, we are streamlining the business from an organizational and business process standpoint. We are organized into a leaner, flatter structure to realize product development synergies and foster better coordination. And finally, we are utilizing our strong IP precision to increase the competitiveness of our products.
We have one of the boldest IP portfolio in the world with more than 800 patents. We believe that there is a great opportunity to leverage this asset and I look forward to further discussing our positives on this activities in future periods.
I would like to turn the call over to Mark Weinswig, who will discuss our financials. Mark?
Mark Weinswig
Thanks, Giovanni. Net revenue for the fiscal first quarter was $45.3 million, down 13% from $51.8 million last quarter and down 17% from $54.7 million in the same period last year. The sequential decline was primarily driven by a significant reduction in the demand from one of our largest customers for our regeneration product and lower end customer demand. On a geographic basis, North America was 36% of revenue, Europe 43% of revenue, and Asia 21%. Greater than 10% customers in the quarter were Alcatel-Lucent and Nortel.
Gross margin was 17% for the first fiscal quarter. This includes the impact of roughly $1.6 million from the write-off of inventory associated with excess and obsolete and inventory related to the shutdown of our Florida facility, and $300,000 of stock comp expense relating to manufacturing. Excluding these items, our gross margin would have been roughly 21%.
Total operating expenses for the first fiscal quarter were $18 million or 40% of revenue. This compares to $15.5 million or 30% of revenue in the fourth fiscal quarter and $15.4 million or 28% of revenue in the same period last year. Operating expenses included severance costs of $0.7 million associated with executives who departed during the quarter and $2.3 million relating to our restructuring initiatives.
In the second fiscal quarter, as a result of our cost cutting initiatives and other items, we expect expenses to fall by more than $2 million. In addition, we are implementing plans to reduce our exposure to E&O in future periods. However, it is important to note that there is an increased risk of greater E&O charges during this period of market uncertainty.
Our operating loss in the first quarter was $10.2 million compared to $0.7 million operating profit last quarter and a loss of $0.2 million in the same period last year. Net loss was $9.6 million or $0.63 per diluted share for the first quarter. This compares to net income of $1.3 million or $0.08 per diluted share last quarter and net income of $45,000 or breakeven for the same period last year.
Please note that our fiscal fourth quarter 2008 GAAP income benefited by $3.1 million due to certain one-time items, as mentioned last quarter. Based on our current operating model, our current operating cash flow breakeven revenue level is roughly $46 million to $48 million in quarterly revenue.
Moving on to the balance sheet, our cash, restricted cash and investments ended the quarter of $50 million, down $9 million from the prior quarter. The Company spent $1.6 million for CapEx in the quarter to increase manufacturing capacity on certain new products, including TDC and WSS. We expect our cash burn to decrease in future quarters.
As a result of our cost-cutting activities, total headcount at the end of our first fiscal quarter were 515, down from 576 in the prior quarter, for a reduction of more than 10% quarter to quarter. As Giovanni noted, the majority of the reduction was in our manufacturing operation, our general and administrative function and the transmission modules group, whose activities were consolidated into our France and China sites.
With that, I will turn it back to Giovanni, who will discuss the outlook for the second fiscal quarter of 2009.
Giovanni Barbarossa
Thanks, Mark. In summary, in spite of these challenging times we believe that Avanex is in a good position. We have a low fixed-cost structure, a number of new and upcoming design activities with a host of major OEM customers, a differentiated technology and IP portfolio and a strong balance sheet with $50 million in cash, restricted cash and investments and no debt.
Now, let me turn to guidance for the second quarter of fiscal year 2009. We expect revenue to be in the range of $37 million to $42 million. We expect gross margins to be between 17% and 21%. I would like to note that there are still market uncertainties and low visibility. At this point, while we will be competent in our guidance we continue to monitor the market environment. Thank you for your continued interest in Avanex. We look forward to updating you on our progress on these objectives over the next quarter.
Pete Currillo
Operator, we are now ready for the question and answer part of our call.
Question-and-Answer Session
Thank you. (Operator instructions). We'll go first to John Harmon, Needham & Company.
John Harmon - Needham & Company
Hi. Good afternoon.
Giovanni Barbarossa
Hi, John.
John Harmon - Needham & Company
A couple of questions, please. First of all, did you complete all the restructuring in the fiscal first quarter that you intended to do or is there more restructuring to be done in the second quarter and more charges?
Giovanni Barbarossa
John, thanks for your question. We did complete the shutdown of our site in Florida. We also executed in a number of other actions in terms of our cost reduction efforts. As the quarter evolves we will keep monitoring the situation. As you know, the market environment is pretty uncertain and we'll have to address this question at a later time, so for the time being, we have executed all of the action that ended up with the saving of the between $8 million and $10 million per year, so that's all completed.
John Harmon - Needham & Company
Thank you. As you said, you have little visibility. I realize visibility is challenged, but I was wondering if you have any indication of how the March '09 quarter could turn out?
Giovanni Barbarossa
March '09. Well, we don't really have visibility, so I'm sure you understand. The first quarter, some customers, such as Nortel and Alcatel-Lucent actually increased their revenue with us. So we increased market share with those customers, with other customers we didn't. So it's really -- the visibility is very poor now. So over the past couple of weeks I've been on the phone with virtually all of our customers really talking to them directly and they really don't see what's going to happen in the future quarters. So that's why the revenue guidance we gave is something we feel comfortable with, but beyond one quarter would be very difficult for us at this point to understand what's going to happen in the first quarter -- the first calendar quarter of next year.
John Harmon - Needham & Company
Thank you. Could you say what types of products or what product categories you think you gained market share during the quarter?
Giovanni Barbarossa
Well, so couple of areas. For sure, in the amplifier application group, we believe we increased the market share. Also, we had in the -- what we call the subsystem groups in general between both Nortel and Alcatel I think we did a pretty good job there. And also we saw an increase in terms of interest and also really ramping up revenue from that perspective, it's really our tunable dispersion compensation products. We talked about the design win with a tier one OEM customer in Asia, which is seeing slight traffic as we speak in a major network in Asia. We're really excited about it. It's really the key differentiation for our product lines and it's something we are, investing to ramp up production because it's going to be one of those products that we're really counting on in the future.
John Harmon - Needham & Company
Thank you. And just finally one for Mark. Of the $9 million in cash burn you had, can you tell me how much was from operations, how much went into working capital versus how much was from operations of the business?
Mark Weinswig
Yes, thank you very much for the question. John, first of all, on the CapEx side, we actually had CapEx about $1.6 million in the quarter. That's higher than our typical run rate. The main reason for that is similar to what Giovanni was mentioning, which is that we are invest -- we did invest in two main new product categories, the WSS and the TDC product lines, so we increased our manufacturing capabilities for those products as we hope to ramp those over the next couple quarters. In terms of our cash flow statement, our operating activities and cash flow from operations was about an $8 million loss basically in the quarter and then, of course, as I mentioned, we did have about $1.6 million of CapEx, so that gets us basically to the roughly $10 million we burned in the quarter.
John Harmon - Needham & Company
Great. Thank you very much.
Mark Weinswig
Thank you.
We'll go next to Paul Bonenfant, Morgan Keegan.
Paul Bonenfant - Morgan Keegan
Hi, thank you. I'd like to start with a couple questions of clarification. I'm wondering if you could review for me what you had in your transcript regarding the contribution for percent of sales for each of transmission, regeneration and wavelength, because my numbers don't seem to add up?
Mark Weinswig
Yes. So, for transmission we announced that transmission was about one-third of the customers rev -- of our revenue in the quarter, regeneration was about 50% and then wavelength management was about 15%.
Paul Bonenfant - Morgan Keegan
Okay. Thank you. Did you give the percentage of revenue for each of your 10% customers, Alcatel-Lucent and Nortel? I know you mentioned they were 10% or greater.
Mark Weinswig
No, we didn't. I don't think we mentioned on the call. Nortel was a greater than 10%, it was actually 15% in the quarter and Alcatel was over 30%.
Paul Bonenfant - Morgan Keegan
Okay. Now given -- it sounds like you're projecting little bit of an uptick in gross margin like next quarter. Are you assuming roughly about the same mix across your three major segments?
Mark Weinswig
Actually, the reason for the increase in our gross margin range is for a few factors. First of all, lower manufacturing expenses relating to the cost-cutting efforts that we mentioned that happened at the end of September. Secondly, we are expecting little bit of positive mix shift. We are rolling out some new products, the TVC, the WSS. And in addition, we also -- as we mentioned on the call, we did do some cost reductions on some of our products that actually will start taking effect fully in the second fiscal quarter.
Paul Bonenfant - Morgan Keegan
Did you have any appreciable ROADM revenue in the quarter?
Giovanni Barbarossa
No, we didn't, but on the other hand, as we said, we're very excited about something that happened again last quarter. We've been selected, as we said, for (inaudible) system, ROADM application where we're actually selling the package. The package is our own amplifier, our own optical performance monitoring, our own wavelength selective switch solution, so the customer selected us because they believe that we are the best really that can provide that kind of solution to them. And so this happened just the past quarter. And again, as we emphasized, I think it's very important to emphasize the fact that this hasn't been a 10% customer of Avanex for quite some time, so that's really in line with our strategies to diversify our greater than 10% customer base.
Paul Bonenfant - Morgan Keegan
Okay. Thank you. And one more if I might. I know that in response to John's earlier question, you mentioned you're not prepared to give guidance for the March quarter, but I'm just wondering about this time of year is when you start to negotiate contracts for the new calendar year and you start seeing what the year-over-year price declines are going to look like, so maybe a two-part question. You mentioned last quarter that you were seeing pressure from legacy products into a top customer and I'm wondering if that's been exacerbated by the deteriorating demand, if you are seeing irrational behavior from your competitors? And the second part would be what do you see? Do you see typical price declines coming in calendar year '09 or anything out of the ordinary? Thank you.
Giovanni Barbarossa
Paul, thanks, that's an excellent question. So let me say a couple things. First, in terms of price pressure, honestly, we don't really see any pressure higher than any time in the past. So it's a typical price pressure that we face in the past. In terms of the March quarter, maybe I can give you some kind of a data point, which on the other hand I want to make sure that we take it as it is. And this is the fact that our October bookings were actually stronger than usual. So it's really uncertain out there and that's why we keep very close contact with our customers to monitor the situation very frequently, because (inaudible) it's very, very reduce and we need to monitor the situation as much as we can. Again, there is no doubt some kind of uncertainty out there, but as we said, we are very excited about our engagements. One data point, which I think is important, is also the fact that none of our customers has canceled any of design activities that have with us, so we're very positive about the fact that from a new partnership production standpoint, we're actually growing from that standpoint and we see this very positive.
Paul Bonenfant - Morgan Keegan
Okay. Thanks.
Giovanni Barbarossa
You're welcome.
Thank you. And we'll go to Ajit Pai, Thomas Weisel.
Ajit Pai - Thomas Weisel Partners
Yes, good afternoon.
Mark Weinswig
Hi, Ajit.
Ajit Pai - Thomas Weisel Partners
Couple of quick questions. The first one is you talked about the cash flow is actually improving on a go-forward basis, so, relative to the $9 million you had this quarter you're forecasting a drop in revenue next quarter. But can you still expect the cash flow or the cash burn to drop to$5 million or so and extrapolating that over the next few quarters if the revenue run rate remains around $40 million what would the cash burn be based on your model after all the streamlining and restructuring is over?
Mark Weinswig
We appreciate the call, so couple of quick -- or the question, couple quick things. First of all, we enacted a cost reduction effort at the end of Q1 that actually is going to result in about $8 million to $10 million in savings on a yearly basis, so we see that being very beneficial. In addition, as we mentioned with our guidance and with the question previously, we are seeing an improvement in our mix shift with some of our new product rollouts, in addition with some of the cost reduction efforts that we had. So those are couple things that are actually benefiting the Company. On the other side we are seeing a reduction in our revenue stream as we mentioned. And just to reiterate, our cash on an operating cash flow basis, our breakeven point is about $46 million to $48 million a quarter in revenue. So if you work out the math, it can let you know where our cash burn is on a quarter-to-quarter basis.
Ajit Pai - Thomas Weisel Partners
Right, but at a $40 million revenue run rate, what kind of cash burn would you have with the new model after the mix shift and everything else?
Mark Weinswig
That's accounted for in our $46 million to $48 million cash flow break-even rate that we mentioned in the call.
Ajit Pai - Thomas Weisel Partners
Right, but how much is variable on the expense line, which is -- on the gross margin side we know what the impact would be, but when you're looking at the expense line there would be a certain drop off in expenses also if the revenue is lower, right?
Mark Weinswig
Yes. And like I said, with the cost reduction efforts that we made in the quarter, it's about $2 million per quarter and -- in benefits as a result of our work relating to our cost reduction efforts. It's also important to note that we do mainly -- we are mainly on a CM model, so, therefore, we don't really have the very large infrastructure in our manufacturing like many of our peers, so we do have much more flexibility in our operating model than almost any other company in this industry.
Ajit Pai - Thomas Weisel Partners
Got it. And now just as many of the players in the space are facing dropping revenue, and it is still a highly fragmented space, what's happening in terms of the competitive landscape? One, I think to the question that was asked just prior to mine, on the pricing front and then also on the consolidation front. Can you give us some color as to with activities heating up discussions are increasing or reducing?
Giovanni Barbarossa
Well, the attitude of all our customers towards Avanex hasn't really changed. I believe it's actually increased -- has improved over the past few months, so they do consider us a strategic supplier for those products where no doubt we have both market as well as technology leadership. So from that standpoint, the level of engagement, it's high and we'll keep increasing it as much as we can. That's one of my priorities, as I said, and one of the really strategic aspects that we're really focusing on. In terms of the price pressure and so forth, as I said, there isn't really nothing extraordinary from that standpoint. This is really affecting everybody equally, I believe, and I think from our side what we're trying to do is really as I said focus on new product introductions, on -- for example, really winning that kind of business which has been captive for several years and which is available out there. This is something which I really want to emphasize. If you look at all of the OEMs out there that still manufacture their own amplifiers, we could really take advantage of our scale, our technology leadership, our resources and our intellectual property to really do a good job there and take that business from our OEMs at the time when they don't buy amplifiers on the (inaudible) market.
Ajit Pai - Thomas Weisel Partners
Got it. Thank you.
Giovanni Barbarossa
You're welcome.
We'll go next to Todd Kaufman, Raymond James.
Todd Kaufman - Raymond James
Thanks very much. Specifically as it relates to your Tellabs business, which I think you were doing comfortably around $10 million a quarter, it looks like there has been a material change there. Were you displaced by a competitor or did end demand for that Tellabs system product just dry up?
Giovanni Barbarossa
Well, no, absolutely. We were not displaced by a competitor. I don't believe that's the case at all. Actually, if you look at the engagement level we have for the next generation product that's actually pretty high and we're -- we're actually trying to leverage the product on which we are working for the future to keep our market share high at Tellabs. So that's a customer that we expect to come back soon. Of course, as we said before the visibility is still pretty poor, but on the other hand we keep the engagement with Tellabs pretty high.
Todd Kaufman - Raymond James
So, in the recent quarter, that was just weaker demand for your product -- for that system product at Tellabs?
Giovanni Barbarossa
Todd Kaufman - Raymond James
Okay. Thank you very much.
Mark Weinswig
Thank you, Todd.
Giovanni Barbarossa
Thank you.
And it does appear there are no further questions at this time. So I'll turn the conference back over to management for any additional or closing remarks.
Giovanni Barbarossa
So thank you very much for your continued interest in Avanex. We'll be looking forward to talk to you in the near future. Thank you.
Ladies and gentlemen, that does conclude today's conference. Thank you for your participation. You may disconnect at this time.
Copyright policy: All transcripts on this site are the copyright of Seeking Alpha. However, we view them as an important resource for bloggers and journalists, and are excited to contribute to the democratization of financial information on the Internet. (Until now investors have had to pay thousands of dollars in subscription fees for transcripts.) So our reproduction policy is as follows: You may quote up to 400 words of any transcript on the condition that you attribute the transcript to Seeking Alpha and either link to the original transcript or to www.SeekingAlpha.com. All other use is prohibited.
If you have any additional questions about our online transcripts, please contact us at: email@example.com. Thank you!


text:
Icecat: creating the world's largest open catalog with 3806316 data-sheets 14808 brands – register (free)
Add to compare Remove from compare
The general trademark of a manufacturer by which the consumer knows its products. A manufacturer can have multiple brand names. Some manufacturers license their brand names to other producers.Philips
Product name:
Product name is a brand's identification of a product, often a model name, but not totally unique as it can include some product variants. Product name is a key part of the Icecat product title on a product data-sheet.WACS7000 Wireless Music Center&Station
Article code :
The brand's unique identifier for a product. Multiple product codes can be mapped to one mother product code if the specifications are identical. We map away wrong codes or sometimes logistic variants.WACS7000
Category :
Media players unite your network with your home entertainment center, allowing you to share, access, and enjoy your digital media, whether it\'s music, videos, or photos, in the comfort of your living room. Some media players even have a built-in hard disk, so you can store your favourite movies or music and enjoy them without having your computer on.Media players & recorders
Data-sheet quality: created/standardized by Icecat
The quality of the data-sheets can be on several levels:
only logistic data imported: we have only basic data imported from a supplier, a data-sheet is not yet created by an editor.
created by Philips: a data-sheet is imported from an official source from a manufacturer. But the data-sheet is not yet standardized by an Icecat editor.
created/standardized by Icecat: the data-sheet is created or standardized by an Icecat editor.
only logistic data imported: we have only basic data imported from a supplier, a data-sheet is not yet created by an editor.
created by Philips: a data-sheet is imported from an official source from a manufacturer. But the data-sheet is not yet standardized by an Icecat editor.
created/standardized by Icecat: the data-sheet is created or standardized by an Icecat editor.
Included since: 04 Feb 2007
The date Icecat noticed for the first time that this product was included in the price list of a channel partner
Info modified on: 18 Jan 2016 15:21:33
The date of the most recent change of the data-sheet in Icecat's system
Product views: 10009
This statistic is based on the 64933 using ecommerce sites (eshops, distributors, comparison sites, ecommerce ASPs, purchase systems, etc) daily downloading this Icecat data-sheet since 04-02-07 Only sponsoring brands are included in the free Open Icecat content distribution as used by 63235 free Open Icecat users.
Long product name Philips Wireless Music Center&Station:
The short editorial description of Philips Wireless Music Center&StationWireless Music Centre&Station
Marketing text Philips Wireless Music Center&Station:
The official marketing text of Philips Wireless Music Center&Station as supplied by the manufacturerStore your whole life's music on the 80GB hard disk and enjoy wireless streaming from the Centre to the Station. Experience hi-speed CD-ripping. Plus, you can playback your GoGear or iPod by using the optional 2-in-1 dock.
Wireless unlimited listening pleasure
- Wireless streaming between music centre and station(s)
- 80GB Hard Disk to store and playback up to 1500CDs
- Wireless streaming from PC via UPnP
- USB Direct playback
- Docking Cradle for GoGear and iPod
Easy navigation and control
- 2-Way LCD Remote Control with alphanumerical search
- Music Follows Me, Music Broadcast, My Room, My Music
- CD ripping plus online Gracenote song information queries
Quality sound performance
- Super Sound Panel for clear and deep bass sound
- Class 'D' digital amplifier for quality sound performance
Short summary description Philips Wireless Music Center&Station:
This short summary of the Philips Wireless Music Center&Station data-sheet is auto-generated and uses the product title and the first six key specs.Philips Wireless Music Center&Station, MP3, PCM, WMA, 8 - 320 Kbit/s, 16 - 128 Kbit/s, 100-240VAC, 50/60Hz, 23.9 x 6.89 x 11.9" (608 x 175 x 303 mm), CD, CD-R, CD-RW
Long summary description Philips Wireless Music Center&Station:
This is an auto-generated long summary of Philips Wireless Music Center&Station based on the first three specs of the first five spec groups.Philips Wireless Music Center&Station. Hard drive capacity: 80 GB. Audio formats supported: MP3, PCM, WMA. MP3 bit rates: 8 - 320 Kbit/s, WMA bit rates: 16 - 128 Kbit/s. Wi-Fi data rate (max): 54 Mbit/s. Power requirements: 100-240VAC, 50/60Hz, Power consumption (standby): 1 W
This is a demo of a seamless insert of an Icecat LIVE product data-sheet in your website. Imagine that this responsive data-sheet is included in the product page of your webshop. How to integrate Icecat LIVE JavaScript.
Hard drive capacity
The maximum storage capacity of the hard disk, usually measured in bytes e.g. GB.
File formats
Audio formats supported
The audio formats which this device or software can read/use e.g. MP3, MP4.
MP3 bit rates
8 - 320 Kbit/s
WMA bit rates
16 - 128 Kbit/s
Device that attempts to reverse the distortion incurred by a signal transmitted through a channel.
Ports & interfaces
Audio (L,R) in
The two sockets (ports) for receiving left audio signal (white cable) and right audio signal (red cable).
Headphone outputs
Number of sockets /ports where headphones are connected.
Universal Plug and Play (UPnP)
Wi-Fi data rate (max)
54 Mbit/s
Energy Management
Power consumption (standby)
The amount of electricity that is consumed when the product is on standby.
Power requirements
100-240VAC, 50/60Hz
Weight & Dimensions
Dimensions (WxDxH)
Dimensions of the product (Width x Depth x Height).
23.9 x 6.89 x 11.9" (608 x 175 x 303 mm)
Set weight
28.5 lbs (12,93 kg)
Case or master carton weight
34.2 lbs (15.5 kg)
Built-in speakers
The device contains speaker(s) to produce sound.
Packaging Content
Warranty card
Other features
FM Dipole
Music power
Disc types supported
The types of disc which can be used with this device.
Bit rate
128, 160, 192, 256 & 320 kbps
Wireless technologies
Supported batteries
4 x AAA + 2 x AA

subset: commoncrawl


text:
Is Gentrification A Problem In The Twin Cities? Not How You'd Think, Study SaysStudies show that this has been a serious problem in cities that are seeing an influx of young, white, upper-class professionals, like San Francisco, New York and Washington D.C. But are poor Twin Cities neighborhoods being gentrified too?
Minn. Artists Express Concern Over Rising RentAs he drove around Northeast Minneapolis with his pregnant wife, Michael Rainville wondered if starting his family there made him a bad husband.


text:
Hindi Movie Reviews
W14 Mar 2014 |
The filmmaker chooses a sensitive, hard-hitting issue like rape, but barring the rape scenes and explicit dialogues, fails to get the gravity of the situation right.
Waarrior Savitri25 Aug 2016 | Renuka Vyavahare
While the fable is well known, moulding it to make it relevant to today's times is a good thought.
Wah Taj23 Sep 2016 | Mihir Bhanage
Wah Taj aims to put focus on the pitiable conditions of farmers and the devil-may-care approach of the government machinery.
Waiting26 May 2016 | Mohar Basu
The layered screenplay poses some thought-provoking queries.
Wajah Tum Ho16 Dec 2016 | Nihit Bhave
Wajah Tum Ho is the latest product on the assembly line of half-baked sex-thrillers.
Wazir05 Jan 2016 | Srijana Mitra Das
Wazir's lead performances, its glassy cinematography, its haunting sound design, work well.
Wedding Pullav15 Oct 2015 | Renuka Vyavahare
Wedding Pullav seems like a never-ending wedding video of an acquaintance, you feel nothing for.
Welcome 2 Karachi29 May 2015 | Mohar Basu
It's an average fare which could've been far better had its meanderings been trimmed.
Welcome Back04 Sep 2015 | Meena Iyer
Just when you thought Hindi cinema had evolved, comes Welcome Back, an indulgent potboiler.
Well Done Abba25 Mar 2010 |
Savour and sensitize yourself with substance and soul. Watch some Well Done cinema.
What the Fish12 Dec 2013 |
The 'idea' behind the movie can be appreciated for its novelty but it fails to develop into a full-fledged comedy of errors, which was the intention.


text:
Europe will conduct a second round of stress tests on banks, which will include more than 100 financial institutions not subjected to the initial assessments, sources said. The European Central Bank and the Committee of European Banking Supervisors proposed the additional tests, which will cover banks that account for about half of total banking assets in individual nations.
Full Story:Reuters


text:
Liberals are blind to their own power hunger.
Check it out:
The ousted head of the Internal Revenue Service apologized to Congress on Friday for his agency's tougher treatment of tea party and other conservative groups seeking tax-exempt status. He said they resulted from a misguided effort to handle a flood of applications, not political bias.
"I want to apologize on behalf of the Internal Revenue Service for the mistakes that we made and the poor service we provided," Steven Miller, who has been acting IRS commissioner, told the House Ways and Means Committee as the panel held Congress' first hearing on the episode. "The affected organizations and the American public deserve better. Partisanship and even the perception of partisanship have no place at the Internal Revenue Service."
At a hearing that saw lawmakers from both parties harshly criticize his agency, Miller conceded that "foolish mistakes were made" by IRS officials trying to handle a flood of groups seeking tax-exempt status. He said the process that resulted in conservatives being targeted, "while intolerable, was a mistake and not an act of partisanship."
Though Miller and another top IRS official are stepping down, the chairman of the committee said that would not be enough.Continue reading on www.breitbart.com
Sign up for our daily email and get the stories everyone is talking about.


text:
Scandic Taby
No prices found through our partners. Please contact the business directly or check some of our recommended alternatives.
How has this hotel rated in the past?
- Restaurant
- Continental Breakfast
- Room service
- Fitness/Health center
- Bar/lounge
- Business Services
Photos of Scandic Taby
Travelers also looked at:
- Restaurant
- Fitness/Health center
- Bar/lounge
- Wheelchair accessibility
- Free parking
- Continental Breakfast
- Room service
- Business Services
TripAdvisor Reviews Scandic Taby
Travel Blogs from Taby
Another walking tour - this time Stockholm
... her remembered her, especially when it came to references of ABBA. The tour was to be more about the recent history of Stockholm - more about today's city. It was good, I found out more about the Stockholm Syndrome and Ikea and H&M. I think my brain is now full.
After lunching on 'Tunnbr�dsrulle' aka Swedish hot dogs, we went looking for a boat tour of the inner archipelago. There are about 30,000 islands in the archipelago, too many ...
A kayak day in Stockholm
... 23401;跳 ;進水裡游 1;,高興的Ţ 98;,水溫正 909;,一點也 9981;冷,大概 26377;20C, 我嘗了一下 ;,是淡水ᦁ 2;一點也不ƕ 69;。還有玩 449;立式划槳 6495;(又稱立 ...
41-35 at Sea 2
Another sunny calm sea day. Max 19c maybe. Walked 30 laps of the jogging circuit, some with Linnie. A short workout in the gym. Then visited the Iron Chef cook off in the cabaret. Dancing, Samba 2 at 12.15pm Spent an hour reading by the pool. Amateur hour show tonight by the crew, who have a lot of talented people, then the captain did a great number followed by the crew all on stage. Full moon and great night, dancing ...
Fika and more
... both called uncles. In Korean, there is a specific word for each situation, as to be expected in a society where titles and roles are of importance!
Oh yeah, I learned the other day while browsing at a map store with Christoffer that the word for 'married' and 'poisonous' are the same!! I thought it was hilarious! There was a beautiful plastic tray with all the specimen of mushrooms found in Sweden. The illustrations and labels looked like something found in an ...
Halloween shopping and old Swedish person
... and balloons. Everything was sooo unnecessarily expensive, like dollar store items would be $10....! Typical Sweden. Afterwards I did the meatball experience... That was fun and yummy as usual. Then I walked around in the city with Christoffer, and we went to McDonalds so I could get my McFlurry fix. We got these really comfy looking seats by the window. There was an empty bag there, so we just put it aside. Then this old man who was dressed like a regular ...


text:
Enter your name and email to receive alerts when new vacation deals are added to any property in this region.
By clicking "Submit" you are agreeing to the
Terms of Service.
Alert successfully created!
Berkshire Articles
Showing 1-2 of 2 Ski Resorts
Wyndham Vacation Resorts - Bentley Brook
Wyndham is the perfect getaway location for the avid skier or snow sports enthusiast! Chair lifts taking you up the mountain are only 200 feet away from the resort, making it easy for you to hop on and enjoy both day and night skiing in this family-oriented, fun ski area.... more
Jiminy Peak Mountain Resort
Jiminy Peak Mountain Resort is the perfect place to hit the slopes on your Massachusetts vacation! The resort features a vertical rise of 1150 feet, 45 different trails and nine different lifts, so you're sure to find something just right for you and your skill level. They offer ski lessons available for beginners, too! ... more
Showing 1-2 of 2 Ski Resorts


text:
Icecat: syndicator of product information via global open catalog with more than 3804270 data-sheets 14809 brands – register (free)
Add to compare Don't compare
The general trademark of a manufacturer by which the consumer knows its products. A manufacturer can have multiple brand names. Some manufacturers license their brand names to other producers.Acer
Product name:
Product name is a brand's identification of a product, often a model name, but not totally unique as it can include some product variants. Product name is a key part of the Icecat product title on a product data-sheet.PSU 610W f G520
Product code :
The brand's unique identifier for a product. Multiple product codes can be mapped to one mother product data-sheet if the specifications are identical. We map away wrong codes or sometimes logistic variants.SO.G5205.002
Category :
A power supply unit (PSU) converts mains AC to low-voltage regulated DC power for the internal components of a computer.power supply units
Data-sheet quality: created/standardized by Icecat
The quality of the product data-sheet can be on several levels:
only logistic data imported: we have only basic data imported from a supplier, a data-sheet is not yet created by an editor.
created by Acer: a data-sheet is imported from an official source from a manufacturer. But the data-sheet is not yet standardized by an Icecat editor.
created/standardized by Icecat: the data-sheet is created or standardized by an Icecat editor.
only logistic data imported: we have only basic data imported from a supplier, a data-sheet is not yet created by an editor.
created by Acer: a data-sheet is imported from an official source from a manufacturer. But the data-sheet is not yet standardized by an Icecat editor.
created/standardized by Icecat: the data-sheet is created or standardized by an Icecat editor.
Included since: 18 Jul 2005
The date Icecat noticed for the first time that this product was included in the price list of a channel partner
Info modified on: 02 Dec 2016 14:39:15
The date of the most recent change of this product data-sheet in Icecat.
Product views: 8827
This statistic is based on the 64862 using ecommerce sites (eshops, distributors, comparison sites, ecommerce ASPs, purchase systems, etc) downloading this Icecat data-sheet since 18-07-05 Only sponsoring brands are included in the free Open Icecat content distribution as used by 63170 free Open Icecat users .
Long product name Acer PSU 610W f G520:
The short editorial description of Acer PSU 610W f G520PSU 610W f G520
Marketing text Acer PSU 610W f G520:
The official marketing text of Acer PSU 610W f G520 as supplied by the manufacturerSince its inception, Acer has evolved from a manufacturing powerhouse to a globally recognized computer brand, marketing world-class IT products and services. Acer's complete range of IT products is designed to enhance work efficiency and quality of life, while granting an easy, hassle-free user experience.
Short summary description Acer PSU 610W f G520:
This short summary of the Acer PSU 610W f G520 data-sheet is auto-generated and uses the product title and the first six key specs.Acer PSU 610W f G520, Altos G520
Long summary description Acer PSU 610W f G520:
This is an auto-generated long summary of Acer PSU 610W f G520 based on the first three specs of the first five spec groups.Acer PSU 610W f G520. Nominal power: 610 W. Compatibility: Altos G520
This is a demo of a seamless insert of an Icecat LIVE product data-sheet in your website. Imagine that this responsive data-sheet is included in the product page of your webshop. How to integrate Icecat LIVE JavaScript.
Nominal power*
The other products, software and hardware this product can be used with.
Altos G520


text:
Italian recipes is a free to download app.
Following are the popular recipes in the app
Following are the popular recipes in the app
1. Risotto Balls with Pumpkin
2. Whole Wheat Pasta in Mushroom Sauce
3. Ravioli with Coconut Milk and Lemongrass Sauce
4. Trofie Pasta
5. Cheesy Baked Pasta
6. Panzenella
7. Green Chilly and Raw Mango Risotto
8. Spaghetti in Pesto Sauce
9. Risotto with Pumpkin and Red Wine
10. Eggplant Parmigiana
1. Chicken Pasta Salad
2. Chicken Lasagne
3. Pasta Carbonara
4. Chicken Italiano
5. Chicken Penne Arabbiata
6. Spaghetti Bolognese 2
7. Spaghetti Meatballs
8. Barley Risotto with Marinated Chicken
9. Meat Pizza
Please note that we are not related to GialloZafferano apps
crap only a few recipes and nothing special
Good.. Nice recipes...
Not impressed Needs more info,pizza recipe for example does not include base? Didn't read any further! Uninstalling
Simplicity at its best Italian food is my all time favorite and cooking is my hobby...and both makes me really happy!! Very well done.
just a few recipes the app is good but it's lack on recipes in total 21, keep up the good work and add more. My rating for now is 3 stars
Few recipes Not nice uninstall it very bad boring


text:
Welcome to LMTmag.com, the social and information hub of the dental lab industry. Connect with industry peers and vendors, ask questions, sign up for events, review products, read LMT articles and industry news and more!
Existing Members, Log In Here
Marketing Manager at Young Dental Lab
Marketing Manager of Young Dental Laboratory, Inc., CDL. B.A. in Marketing and Entrepreneurial Studies 2005 Graduate of NADL University Certified Straumann...See more Etkon CADCAM Technologist Certified NobelProcera Dental Designer We are also a NobelProcera & 3Shape CAD/CAM Laboratory, FiberWeld V4 Laser welding...
The top five ways respondents to LMT's 2015 All About You survey use their devices are research, news, online shopping, social media and education.
LMT Original Research © 2017
84 South Main St., Newtown CT 06470
203-426-4LMT · 203-491-2300 (fax)
LMT Communications delivers the business strategies, information, dental laboratory news and education that dental laboratory decision-makers need to succeed. Through LMT Magazine and our LAB DAY shows, LMT works to advance excellence in dental technology, enhance the products, services and communication of dental technicians, and give lab owners and managers the tools they need to flourish. Learn More »
© 2017 LMT Communications, Inc. All rights reserved. · Terms & Privacy · Contact UsA Voxle Community


text:
The Place
Polo Instruction
Polo Management
Ponies for sale
Polo Holidays
In Argentina
Our Guests
Wycombe Weather
Lunettes de soleil Ray Ban Outlet
If you wish to acquisition a brace of sunglasses which is both appearance and safety, you should accept the acclaimed cast sunglasses which contains aegis guarantees. With commendations to advertent 1 that you just in actuality like, it may conceivably be harder accustomed that there are so several agitating types to baddest from! Ray Ban continues to be abutting to for any abiding time, which agency you can await on their sunglasses are anniversary abiding and fashionable. Ray Ban does not just bazaar eyeglasses
Ray Ban Lunettes de soleil
vente that you just accept your ancestor would wear. Additionally they accept several added absolutely altered types some which can be aswell absolutely fashionable. Carry the Ray Ban Havana Sunglass for example. It is absolutely fashionable with its colossal lens and tortoise carapace frame. It is about a abduct at just 9.99 from Worthy Fashion, in allegory to added designers bartering a commensurable architecture for hundreds more.
Ray Ban is accustomed for their two primary sunglass: the aviator and aswell the wayfarer. Anniversary are oldies and absolutely goodies. You can accept up a agitating brace of big brownish aviators from United Shades. Or in bearings you favor the alien style; you can ascertain a agitating brace at Tilly, in which they accommodate the accurate forth with assorted added colors and styles. Ray Ban Sunglasses in actuality action in so several absolutely altered styles; it may in actuality be difficult to baddest which one will a lot of acceptable be a lot of acceptable for you. the a lot of benign point is the simple actuality that Ray Ban Tech has developed to acquire a agitating acceptability
Remise Ray Ban Outlet
with their commodity which agency you apperceive you are accepting a abundant bigger than archetypal product. They accommodate anniversary athletic and beautiful glass, so anybody aural your admired ones will a lot of acceptable be in a adjustment to acknowledge a brace of those sunglasses.
Ray Ban continues to aggrandize its use of abstracts this season. First they alien the Ray Ban Tech Accumulating which acclimated 18-carat covering accents, now in absolute timing for summer they absolution the Ray Ban Tech department. The new accumulating appearance sunglasses which are composed of carbon cilia and a adhesive blended which creates a lightweight, strong, flexible, and airy material. Carbon cilia is acclimated on aggregate from chase cars and airplanes to the amplitude shuttle. It not alone able (often stronger than steel), but aswell acutely ablaze weight.
Belstaff Bottes Hommes
| Belstaff Sacs Outlet
CAD Dollar Suppliers:
In Stock
Mariano Darritchon Polo Manager - 4 Goal Player - HPA Qualified Instructor- Jairo Rojas - Director - La Mariposa Polo Ltd.
Argentina (+54-9-11) 5180 1759 - England (+44-7947) 725 305 - E-mail:


text:
Check in from 16h / Check out prior to 13h
Grand Rose SPA Hotel: Find photos, reviews, information, amenities and compare prices for 4 stars hotels in Kuressaare, Estonia.
Grand Rose SPA Hotel is set on Saaremaa and provides 4-star facilities, including a mineral bath and a Jacuzzi. It features a spa, as well as a steam bath, a sauna and a swimming pool.
Hotel description
Every cosy room at Grand Rose SPA Hotel includes cable/satellite channels and a refrigerator, while the bathrooms offer bathrobes and showers. All include a flat-screen TV, heating and an in-room closet.
A satisfying breakfast is available every morning at Grand Rose, and there are numerous restaurants and eateries nearby. For guests on the move, the hotel provides packed lunches if needed.
Grand Rose Hotel is close to the area's popular attractions, and Kuressaare Linnastaadion is also close by. For guests who enjoy cycling, the hotel offers a bicycle rental service.
Hotel features
Room Service, Refrigerator, Cable / Satellite TV, Hair Dryer, TV, Shower, En suite, Private Bathroom
Elevator / Lift, 24 Hour Reception, Wake-up Service, Meeting Rooms, Laundry service, Bicycle Rental, Shops, Photocopier, Luggage Storage, Self Laundry
Fitness Room/Gym, Swimming pool, Massage / Beauty Centre, Golf Course, Sauna, Garden, Playground, Jacuzzi, Massage, Spa & Wellness Centre, Steam Bath, Pool Indoor
Parking, Airport shuttle
Salon, Bathrobes, Private Toilet, Packed Lunches, Souvenirs/Gift Shop
Availability and Prices
Booking Site
Room Type
Per room
Per night
Per night
Users who viewed Grand Rose SPA Hotel also viewed these 4 stars Kuressaare hotels:
Spa Hotel Ruutli
Pargi 12, Kuressaare
Pargi 12, Kuressaare
Georg Ots Spa Hotel
Tori 2, Kuressaare
Tori 2, Kuressaare
Arensburg Boutique Hotel & Spa Kuressaare
Lossi 15, Kuressaare
Lossi 15, Kuressaare
Search hotels
based on


text:
Triple LP 180g repress.
Recorded live at the Berkeley Community Theater, Berkeley, California on April 21 and 22, 1999.
Includes liner notes by Michael Kamen.
"The Call Of Ktulu" won the 2001 Grammy Award for Best Rock Instrumental Performance.
As the strains of Ennio Morricone's "The Ecstacy of Gold" filled the Berkeley Community Theater, metal heads and classical music enthusiasts were both in for a special evening--where many previous rock/classical collaborations had failed, Metallica and the San Francisco Symphony delivered the goods. "The Call of Ktulu," a track that had never before been performed live, was fated for a debut such as this.
The epic instrumental, given added depth by the charts of Michael Kamen (who succeeds in putting a new spin on the band's material as he did on Metallica's self-titled 1991 release), is nothing short of bombastic.
The same applies to the speed-metal classic "Master of Puppets." "Hero of the Day" works very well, with its melodic tone enhanced by the symphony. Two new songs are debuted on S&M, "No Leaf Clover" and "Human," tracks that will make for an interesting comparison to their studio versions. The anti-war anthem "One" seems as if it had been made for the classical treatment it receives here. The balance among guitar, drums, strings, and brass makes for a winning sound. Chalk up one more for the band that continues to go against the grain.
LP Track Listing:
1 The Ecstasy of Gold (Live)
2 The Call of Ktulu (Live)
3 Master of Puppets (Live)
4 Of Wolf & Man (Live)
5 The Thing That Should Not Be (Live)
6 Fuel (Live)
7 The Memory Remains (Live)
8 No Leaf Clover (Live)
9 Hero of the Day (Live)
10 Devil's Dance (Live)
11 Bleeding Me (Live)
12 Nothing Else Matters (Live)
13 Until It Sleeps (Live)
14 For Whom the Bell Tolls (Live)
15 Human (Live)
16 Wherever I May Roam (Live)
17 The Outlaw Torn (Live)
18 Sad But True (Live)
19 One (Live)
20 Enter Sandman (Live)
21 Battery (Live)


text:
Director of Neuro Critical Care
LAC+USC Medical Center Inpatient Chief
Dr. Sung is chief of the Division of Stroke and Neurocritical Care and is a recognized leader in both fields of stroke and neurocritical care. He was a founding member of both the international Neurocritical Care Society (and its current vice-President) and the Western States Stroke Consortium (and its current President). He is also a founder of the journal Neurocritical Care and its current associate editor. Furthermore, he has had leadership roles in many national organizations, including the American Academy of Neurology, American Stroke Association and the National Stroke Association and has published and reviewed articles for many journals and has been an invited lecturer in conference throughout the world.
Dr. Sung's research interests include stroke outcomes, critical care management of stroke, intracranial pressure, cerebral reperfusion, and hypothermia. He is the principal investigator for several investigator-initiated and industry-sponsored translation research projects and he recently received funding to examine outcomes in telemedicine delivery of stroke care.
Koch S, Sung G. AEDs after ICH: Preventing the prophylaxis. Neurology. 2016 Nov 18. View in: PubMed
Koch S, Sung G. AEDs after ICH: Preventing the prophylaxis. Neurology. 2016 Nov 18. View in: PubMed
Woo D, Kruger AJ, Sekar P, Haverbusch M, Osborne J, Moomaw CJ, Martini S, Hosseini SM, Ferioli S, Worrall BB, Elkind MS, Sung G, James ML, Testai FD, Langefeld CD, Broderick JP, Koch S, Flaherty ML. Incontinence and gait disturbance after intraventricular extension of intracerebral hemorrhage. Neurology. 2016 Mar 8; 86(10):905-11. View in: PubMed
Sung G, Bosson N, Kaji AH, Eckstein M, Shavelle D, French WJ, Thomas JL, Koenig W, Niemann JT. Therapeutic Hypothermia After Resuscitation From a Non-Shockable Rhythm Improves Outcomes in a Regionalized System of Cardiac Arrest Care. Neurocrit Care. 2016 Feb; 24(1):90-6. View in: PubMed
Gross H, Guilliams KP, Sung G. Emergency Neurological Life Support: Acute Ischemic Stroke. Neurocrit Care. 2015 Dec; 23 Suppl 2:94-102. View in: PubMed
Sheth KN, Martini SR, Moomaw CJ, Koch S, Elkind MS, Sung G, Kittner SJ, Frankel M, Rosand J, Langefeld CD, Comeau ME, Waddy SP, Osborne J, Woo D. Prophylactic Antiepileptic Drug Use and Outcome in the Ethnic/Racial Variations of Intracerebral Hemorrhage Study. Stroke. 2015 Dec; 46(12):3532-5. View in: PubMed
Matsushima K, Inaba K, Siboni S, Skiada D, Strumwasser AM, Magee GA, Sung GY, Benjaminm ER, Lam L, Demetriades D. Emergent operation for isolated severe traumatic brain injury: Does time matter? J Trauma Acute Care Surg. 2015 Nov; 79(5):838-42. View in: PubMed
Lazaridis C, Maas AI, Souter MJ, Martin RH, Chesnut RM, DeSantis SM, Sung G, Leroux PD, Suarez JI. Alternative clinical trial design in neurocritical care. Neurocrit Care. 2015 Jun; 22(3):378-84. View in: PubMed
Saver JL, Starkman S, Eckstein M, Stratton SJ, Pratt FD, Hamilton S, Conwit R, Liebeskind DS, Sung G, Kramer I, Moreau G, Goldweber R, Sanossian N. Prehospital use of magnesium sulfate as neuroprotection in acute stroke. N Engl J Med. 2015 Feb 5; 372(6):528-36. View in: PubMed
Saver JL, Starkman S, Eckstein M, Stratton SJ, Pratt FD, Hamilton S, Conwit R, Liebeskind DS, Sung G, Kramer I, Moreau G, Goldweber R, Sanossian N. Prehospital use of magnesium sulfate as neuroprotection in acute stroke. N Engl J Med. 2015 Feb 5; 372(6):528-36. View in: PubMed
Thomas JL, Bosson N, Kaji AH, Ji Y, Sung G, Shavelle DM, French WJ, Koenig W, Niemann JT. Treatment and Outcomes of ST Segment Elevation Myocardial Infarction and Out-of-Hospital Cardiac Arrest in a Regionalized System of Care Based on Presence or Absence of Initial Shockable Cardiac Arrest Rhythm. Am J Cardiol. 2014 Oct 1; 114(7):968-71. View in: PubMed
Bosson N, Kaji AH, Niemann JT, Eckstein M, Rashi P, Tadeo R, Gorospe D, Sung G, French WJ, Shavelle D, Thomas JL, Koenig W. Survival and Neurologic Outcome after Out-of-Hospital Cardiac Arrest: Results One Year after Regionalization of Post-Cardiac Arrest Care in a Large Metropolitan Area. Prehosp Emerg Care. 2014 Apr-Jun; 18(2):217-23. View in: PubMed
Saver JL, Starkman S, Eckstein M, Stratton S, Pratt F, Hamilton S, Conwit R, Liebeskind DS, Sung G, Sanossian N. Methodology of the Field Administration of Stroke Therapy - Magnesium (FAST-MAG) phase 3 trial: Part 1 - rationale and general methods. Int J Stroke. 2014 Feb; 9(2):215-9. View in: PubMed
Saver JL, Starkman S, Eckstein M, Stratton S, Pratt F, Hamilton S, Conwit R, Liebeskind DS, Sung G, Sanossian N. Methodology of the Field Administration of Stroke Therapy - Magnesium (FAST-MAG) phase 3 trial: Part 2 - prehospital study methods. Int J Stroke. 2014 Feb; 9(2):220-5. View in: PubMed
Woo D, Rosand J, Kidwell C, McCauley JL, Osborne J, Brown MW, West SE, Rademacher EW, Waddy S, Roberts JN, Koch S, Gonzales NR, Sung G, Kittner SJ, Birnbaum L, Frankel M, Testai FD, Hall CE, Elkind MS, Flaherty M, Coull B, Chong JY, Warwick T, Malkoff M, James ML, Ali LK, Worrall BB, Jones F, Watson T, Leonard A, Martinez R, Sacco RI, Langefeld CD. The Ethnic/Racial Variations of Intracerebral Hemorrhage (ERICH) study protocol. Stroke. 2013 Oct; 44(10):e120-5. View in: PubMed
Gross H, Sung G, Weingart SD, Smith WS. Emergency neurological life support: acute ischemic stroke. Neurocrit Care. 2012 Sep; 17 Suppl 1:S29-36. View in: PubMed
Shulkin DJ, Jewell KE, Alexandrov AW, Bernard DB, Brophy GM, Hess DC, Kohlbrenner J, Martin-Schild S, Mayer SA, Peacock WF, Qureshi AI, Sung GY, Lyles A. Impact of systems of care and blood pressure management on stroke outcomes. Popul Health Manag. 2011 Dec; 14(6):267-75. View in: PubMed
Nogueira RG, Smith WS, Sung G, Duckwiler G, Walker G, Roberts R, Saver JL, Liebeskind DS. Effect of time to reperfusion on clinical outcome of anterior circulation strokes treated with thrombectomy: pooled analysis of the MERCI and Multi MERCI trials. Stroke. 2011 Nov; 42(11):3144-9. View in: PubMed
Mayer SA, Kurtz P, Wyman A, Sung GY, Multz AS, Varon J, Granger CB, Kleinschmidt K, Lapointe M, Peacock WF, Katz JN, Gore JM, O'Neil B, Anderson FA. Clinical practices, complications, and mortality in neurological patients with acute severe hypertension: the Studying the Treatment of Acute hyperTension registry. Crit Care Med. 2011 Oct; 39(10):2330-6. View in: PubMed
Abou-Chebl A, Sung G, Barbut D, Torbey M. Local brain temperature reduction through intranasal cooling with the RhinoChill device: preliminary safety data in brain-injured patients. Stroke. 2011 Aug; 42(8):2164-9. View in: PubMed
Groysman LI, Emanuel BA, Kim-Tenser MA, Sung GY, Mack WJ. Therapeutic hypothermia in acute ischemic stroke. Neurosurg Focus. 2011 Jun; 30(6):E17. View in: PubMed
Leifer D, Bravata DM, Connors JJ, Hinchey JA, Jauch EC, Johnston SC, Latchaw R, Likosky W, Ogilvy C, Qureshi AI, Summers D, Sung GY, Williams LS, Zorowitz R. Metrics for measuring quality of care in comprehensive stroke centers: detailed follow-up to Brain Attack Coalition comprehensive stroke center recommendations: a statement for healthcare professionals from the American Heart Association/American Stroke Association. Stroke. 2011 Mar; 42(3):849-77. View in: PubMed
Sung G, Greer D. The case for simplifying brain death criteria. Neurology. 2011 Jan 11; 76(2):113-4. View in: PubMed
Gore JM, Peterson E, Amin A, Anderson FA, Dasta JF, Levy PD, O'Neil BJ, Sung GY, Varon J, Wyman A, Granger CB. Predictors of 90-day readmission among patients with acute severe hypertension. The cross-sectional observational Studying the Treatment of Acute hyperTension (STAT) study. Am Heart J. 2010 Sep; 160(3):521-527. e1. View in: PubMed
Nogueira RG, Liebeskind DS, Sung G, Duckwiler G, Smith WS. Predictors of good clinical outcomes, mortality, and successful revascularization in patients with acute ischemic stroke undergoing thrombectomy: pooled analysis of the Mechanical Embolus Removal in Cerebral Ischemia (MERCI) and Multi MERCI Trials. Stroke. 2009 Dec; 40(12):3777-83. View in: PubMed
Katz JN, Gore JM, Amin A, Anderson FA, Dasta JF, Ferguson JJ, Kleinschmidt K, Mayer SA, Multz AS, Peacock WF, Peterson E, Pollack C, Sung GY, Shorr A, Varon J, Wyman A, Emery LA, Granger CB. Practice patterns, outcomes, and end-organ dysfunction for patients with acute severe hypertension: the Studying the Treatment of Acute hyperTension (STAT) registry. Am Heart J. 2009 Oct; 158(4):599-606. e1. View in: PubMed
Christian E, Zada G, Sung G, Giannotta SL. A review of selective hypothermia in the management of traumatic brain injury. Neurosurg Focus. 2008 Oct; 25(4):E9. View in: PubMed
Smith WS, Sung G, Saver J, Budzik R, Duckwiler G, Liebeskind DS, Lutsep HL, Rymer MM, Higashida RT, Starkman S, Gobin YP. Mechanical thrombectomy for acute ischemic stroke: final results of the Multi MERCI trial. Stroke. 2008 Apr; 39(4):1205-12. View in: PubMed
Mayer SA, Coplin WM, Chang C, Suarez J, Gress D, Diringer MN, Frank J, Hemphill JC, Sung G, Smith W, Manno EM, Kofke A, Lam A, Steiner T. Program requirements for fellowship training in neurological intensive care: United Council for Neurologic Subspecialties guidelines. Neurocrit Care. 2006; 5(2):166-71. View in: PubMed
Mayer SA, Coplin WM, Chang C, Suarez J, Gress D, Diringer MN, Frank J, Hemphill JC, Sung G, Smith W, Manno EM, Kofke A, Lam A, Steiner T. Core curriculum and competencies for advanced training in neurological intensive care: United Council for Neurologic Subspecialties guidelines. Neurocrit Care. 2006; 5(2):159-65. View in: PubMed
Smith WS, Sung G, Starkman S, Saver JL, Kidwell CS, Gobin YP, Lutsep HL, Nesbit GM, Grobelny T, Rymer MM, Silverman IE, Higashida RT, Budzik RF, Marks MP. Safety and efficacy of mechanical embolectomy in acute ischemic stroke: results of the MERCI trial. Stroke. 2005 Jul; 36(7):1432-8. View in: PubMed
Janjua N, Qureshi AI, Qureshi A, Kirmani JF, Lanzino G, Sung G, Suarez JI, Ebrahimi A, Divani AA, Divani A. A 70-year-old woman with poor grade subarachnoid hemorrhage complicated by carotid stenosis, cerebral vasospasm, and cerebral rebleed. Neurocrit Care. 2005; 3(2):183-8. View in: PubMed
Swadron SP, Selco SL, Kim KA, Fischberg G, Sung G. The acute cerebrovascular event: surgical and other interventional therapies. Emerg Med Clin North Am. 2003 Nov; 21(4):847-72. View in: PubMed
Anderson CA, Sung GY. Central retinal artery occlusion associated with intranasal methamphetamine use. J Stroke Cerebrovasc Dis. 2003 Jul-Aug; 12(4):207-8. View in: PubMed
Qureshi AI, Suri MF, Sung GY, Straw RN, Yahia AM, Saad M, Guterman LR, Hopkins LN. Prognostic significance of hypernatremia and hyponatremia among patients with aneurysmal subarachnoid hemorrhage. Neurosurgery. 2002 Apr; 50(4):749-55; discussion 755-6. View in: PubMed
Frey LC, Sung GY, Tanabe J. Early false-negative diffusion-weighted imaging in brainstem infarction. J Stroke Cerebrovasc Dis. 2002 Jan-Feb; 11(1):51-3. View in: PubMed
Sung GY. Outcomes of neurocritical care. Curr Neurol Neurosci Rep. 2001 Nov; 1(6):593-8. View in: PubMed


text:
100% brand new
Mouth shaped
When infants are able to walk by themselves, all materials in home become objects that are to be conquered by infants. The parents do not care for the objects that may be spoiled by infants, but care for their loved babies because their babies may hurt themselves . Infants can even be hurt or tumble when they open a door! This baby safety door guard can effectively protect infants against the possible injury from opening door.
• 100% brand new and high quality
• The door stop finger pinch guard will keep your child's little finger's safe
• Easily attach the pinch guard above the door knob or on the top edge of the door
• Prevent injuries by the door when it is about to slam shut or from locking themselves in a room
Package included
1 X NEW Baby Safety Door Guard Stop Finger Pinch Protector
This product is made of high quality raw materials. Caught in the door, to prevent wind sound generated when the door is closed to wake a sleeping child while preventing the child was locked in the room, but also to avoid the child was accidentally injured child refers doors.


text:
mvcConf 2 - Chris Bannon: Putting the V in MVC
Download this episode
MVC gives us total control over markup in ASP.NET. Or in other words, you better learn how to turn HTML into something pretty. Luckily, there is a great framework to help us out: jQuery UI! We will take a look at using jQuery UI to do exactly that. We will start with simple HTML markup and transform it into interactive widgets with very little code. jQuery UI widgets add style and behavior to otherwise drab markup without changing its semantics. We will also look at Wijmo, a new toolkit that extends jQuery UI. Wijmo brings over 30 widgets to jQuery UI from Menus to SVG Charts, 18 of which are Open Source. Both jQuery UI and Wijmo can take your Views from boring to brilliant in ASP.NET MVC. After this session you will be ready to start putting the V in MVC!
Recorded live via Live Meeting as part of mvcConf 2
Available formats for this video:
Actual format may change based on video formats available and browser capability.
More episodes in this series
mvcConf 2 - Steve Hebert: ModelBinding derived types using the DerivedTypeModelBinder in…
Related episodes
Tip 1: Async void is for top-level event-handlers only
Tip 2: Distinguish CPU-Bound work from IO-bound work
Tip 4: Async Library Methods Shouldn't Lie
Six Essential Tips For Async - Introduction
Tip 3: Wrap events up in Task-returning APIs and await them
Understand your code dependencies through visualization
The Discussion
The video stops after less than a minute of playing. I tried downloading and it starts very fast then slows down and aborts after less than 10MB.
1 day ago, jvanderh wrote
The video stops after less than a minute of playing. I tried downloading and it starts very fast then slows down and aborts after less than 10MB.
Is this problem fixed yet?
@jvanderh: which version did you download (WMV/MP4 etc.)?
I'm unable to reproduce the issues you're seeing... can you provide some more info please?
@nic: What's the resolution of the High Quality MP4 version? Isn't there a high quality wmv version? Thank you.
I've had the same problem downloading the high quality MP4.
Hi Nic,
After seeing your video, I was looking in wijmo then one thing caught my eye is that wijmo support IE6+ but their widgets don't work in IE6. I opened this link http://wijmo.com/demos/explore/ using IE6 then I get lots of unusual behaviors. Like : when I click tooltip the layout bakes and tooltip look odd, but it work in IE8 like a charm. In Grid view the row hovering is not working etc……
So, should I assume that wijmo is not supported in IE6. I know that IE6 is trouble but there are lot's of client who uses IE6 with Win XP still.
Imrul, all widget do support IE6. There is an issue on the website we are working out. Thanks for pointing it out! If you want to see the demo's without issue you can download the package or see it live here: http://wijmo.com/Wijmo-Open/samples/ and here http://wijmo.com/Wijmo-Complete/samples/
Shoot us an email if you need any more help or see any other issues Imrul: firstname.lastname@example.com
Thanks again -Chris
Great presentation. I really like the decoupling between data and presentation achieved using jQuery UI (and Wijmo in this case). Something I must look into in more detail!
The Example at 00:38 is very useful. I think that the most data visualization problems should be responsibility of UI layer and javascript is a powerful tool at doing that, it should be used a lot more
Comments closed
Comments have been closed since this content was published more than 30 days ago, but if you'd like to continue the conversation, please create a new thread in our Forums, or Contact Us and let us know.


text:
Hello ~
I'm Kamilla, but you can call me Kami.
I'm 19 years old, and live in Denmark.
I love Japan, and have a big interest in jrock and anime.
I haven't been able to watch so many animes, so if you have suggestions, please tell me :)
1,746 total episodes
I love your avi ! The little moe girl is adorable ! !
if you like love stage you will defiently also like gravitation :)
Hey there! You should check out Say "I Love You" and Mirai Nikki. Totally different, but they're both great.
Welcome to AP.:)


text:
You have no items in your shopping cart.
Free Shipping On All Orders Over $89.99
Show off your grilling skills with this large wood handled spatula. Your favorite team name is engraved in the handle and the stainless steel spatula is laser etched with the team logo. The handle also has a bottle opener at the end.
|This Item Usually Leaves The Warehouse In
|3 to 5 Business Days
|Estimated Delivery Time Map - Based on Your Shipping Zones
|Click to View Map of Estimated Delivery Times to Your Location
The Missouri Tigers Tailgating Collection
Who Bought This Also Bought
Missouri Tigers Big Spatula / Bottle Opener
Regular Price: $28.99
Special Price: $22.99
Missouri Tigers Ice Bucket
Regular Price: $30.00
Special Price: $24.00
Missouri Tigers 3 pc Set BBQ Tool Set
Regular Price: $40.00
Special Price: $32.00
Missouri Tigers BBQ Tool Set - 3 pc Set w/Bag
Regular Price: $44.99
Special Price: $37.99
Missouri Tigers 8 pc BBQ Set
Regular Price: $90.00
Special Price: $72.00


text:
Valentines Day by LOMC Dinner Staff - almost 4 years ago
"LOMC Kitchen Staff in their new Staff shirts at a Valentines Dinner for our local Lions Club. I am very pleased with CustomInk. They were very easy to work with, not to mention that my shipment ar..."View full details
Is this photo a winner?


text:
Who is Simon ???
Investor, trader, speaker, writer, photographer, chocolate eater, wine & coffee drinker and sock wearer. But mostly teacher helping people understand money and all its aspects from saving to investing and trading.
My passion is helping people understand money in all its aspects. I want to help South Africans be smarter about their money.
Where is Simon ???
JustOneLap.com is a free online university with the aim of helping South Africans with their money. The three core areas of teaching will be;
The primary method of teaching will be webinars and with my belief in education as a commodity that needs to be freely shared - all content is free to users.
Three columns every week; Simon Says (my thoughts) and an investor educational page. I also do a weekly house view on a stock/ETF of my choise.
Investing Made Simple. Explaining investing one concept at a time. Find the show here.
The Week That Was. Co-hosted with Giulietta Talevi and goes out every Friday at 5.30pm repeated at 7.30pm. Find the show online here.


text:
Chanelle Washington's Profile
Indigofera Beauty was born because a young black girl from the inner city of Philadelphia, growing up in a single parent home, refused to accept the limitations placed on her by society.
While traveling to Senegal, West Africa in the year 2000, she watched creative women operate microbusinesses along the streets of Dakar selling everything from fresh fruit to handmade colorful textiles. These women began with what they had, simplifying the process of starting a business.
Once Chanelle returned home to America, she launched Indigofera, "treasures for body mind and soul." Her first collection included natural body care, gemstone jewelry, aromatherapy and imported textiles. "Indigofera" represents the beauty of the earth's gifts and Chanelle was intentional about inspiring women to self-love, light filled…
- Female
- Born on October 1
- Joined June 28, 2007
Favorite materials
Lemongrass essential oil, avocado oil, coconut cream, pure aloe vera, sweet almond oil, karite butter, sage, nettle, rosemary
- Chanelle Washington
- Atlanta, GA, United States


text:
Check in from 14h / Check out prior to 12h
The Inn at Jack London Square: Find photos, reviews, information, amenities and compare prices for 3 stars hotels in Oakland, United States.
The Inn at Jack London Square is located in Oakland and offers free Wi-Fi. Surrounded by local bars and restaurants, it is less than a 10-minute stroll from Oakland Amtrak Station.
Hotel description
This modern hotel offers luggage storage, a 24-hour reception and meeting rooms. A fitness centre can be readily accessed by those wanting to keep active while travelling.
Inn at Jack London Square offers modern rooms equipped with heating, a hair dryer and cable/satellite channels, plus all the necessities to ensure a comfortable stay. There are also several rooms especially designed for families.
Each morning, guests can sit down to breakfast provided by The Inn at Jack London Square Oakland before heading off to see what the surrounding area has to offer. Room service is also available during limited hours.
The Inn at Jack London Square is conveniently located for exploring Oakland with Port of Oakland within a 10-minute walk. Guests can also easily visit Oakland City Center and Chinatown.
Hotel features
Room Service, Restaurant, Air Conditioned, Cable / Satellite TV, Hair Dryer, TV, En suite, Private Bathroom, Vending Machines
Business Center, Elevator / Lift, 24 Hour Reception, Dry Cleaning, Multilingual Staff, Safe-Deposit Box, Meeting Rooms, Laundry service, Photocopier, Luggage Storage
Fitness Room/Gym
High-speed Internet, Internet Connection (wireless)
Availability and Prices
Booking Site
Room Type
Per room
Per night
Per night
Users who viewed The Inn at Jack London Square also viewed these 3 stars Oakland hotels:
Waterfront Hotel Oakland
10 Washington Street, Oakland
10 Washington Street, Oakland
Holiday Inn Express & Suites Oakland - Airport
66 Airport Access Road, Oakland
66 Airport Access Road, Oakland
Courtyard by Marriott Oakland Airport
350 Hegenberger Road, Oakland
350 Hegenberger Road, Oakland
Search hotels
based on


text:
Plus its hard to conceal carry a semi-automatic rifle. Why is this incident even being brought up in a CCW article?
And the rest of the Chicago citizens cannot defend themselves with a firearm.
Off-duty officer shot; superintendent vows to catch attacker
An off-duty Chicago police officer was shot and wounded during a robbery attempt.
By Adam Sege, Jeremy Gorner and Rosemary Regina Sobol Tribune reporters
10:34 a.m. CST, December 10, 2012
A veteran off-duty Chicago police officer was shot twice early Monday during an attempted robbery outside his car as a young child sat inside, authorities said.
While the 34-year-old officer sustained gunshot wounds to the chest and wrist, his wounds did not appear to be life-threatening, Chicago Police Department Superintendent Garry McCarthy said.
The officer's wrist was broken, but the bullet that struck his chest inflicted only superficial damage, the superintendent said.
"He's obviously shaken up, [but] he's in good spirits," McCarthy said this morning, after visiting the officer at Advocate Christ Medical Center in Oak Lawn. "Right now it's as good as it could possibly be."
The wounded officer has been with Chicago Police Department since 2002.


text:
Guess what these companies are:
In history "The next XXX" has jinxed many stocks. It often means the market gets over excited about a company and it becomes a disastrous investment. One can obviously use such sentiment to create a "sell short index" by observing how media, especially analysts behave toward an overvalued stock.
The next Nike (NKE)
For most people, the memory is still quite fresh about those ugly Crocs (CROX) sandals. Crocs was publicly listed as an overvalued stock. It became so popular in the summer of 2006 that you could not go anywhere without seeing young people wearing them. However, the fundamentals just don't match. At around $45 in 2007, Crocs was already a very outrageously valued stock. It was around that time, I started to hear "The next Nike" on Crocs. Crocs, at the same time, started product line expansion by entering into alternative shoe designs using the same plastic. It even expanded into clothing for a while. On the balance sheet, keen investors started to observe warning signs. Earnings were exaggerated by mountain piling inventory. The snow storm finally came in late 2007. Unfortunately, the financial crisis came in 2008. A deteriorating business coupled with a bad economy; Crocs dipped to as low as $2, as over 90% drop from its bubble peak.
The next HBO (TWX)
A Warner Brother's executive calls the company the "Albanian army." Analysts and stock hobbyists called it "the next HBO." The rise and fall of Netflix (NFLX) were both quite magnificent. We know the highest cable penetration in the United States is about 30 million households. Analysts believed Netflix could hit 50% of the households in the U.S. when it had fewer than 20 million subscribers. From $300 to $60, Netflix lost 80% of its value from its bubble peak. How much is Netflix worth?
Currently, it has about 12 million DVD subscribers and 20 million online subscribers, that's $3.5 billion a year in revenue. A 10% profit margin, and a price/earnings (P/E) multiple of 10-15, it's worth $3.5-$5 billion. If Netflix can maintain its subscriber base and margin, it's worth between $65~95.
The next McDonald's (MCD)
The previous two cases unfolded. The story of "the next McDonald's" is still in the making. First of all, Chipotle Mexican Grill (CMG) is not similar to McDonald's -- it is not even a franchise-style business. The main reason for Chipotle's fall is over valuation, just like in the case of both Crocs and Netflix. The chief indicators include:
Market value per restaurant
Chipotle: $10 million
McDonald's: $3 million
Olive Garden or Red Lobster: $3.5 million
Red Robins (RRGB): $1.1 million
Wendy's (WEN): $290 thousand
Operating cash flow
Chipotle has an OCF growth of sub-20%, while its price/OCF ratio is almost 50. A generous but more reasonable ratio of 25 given its growing speed means a price of about $160, almost half of the current price.
Insiders selling
Always a warning sign, Chipotle insiders are selling their shares like there is no tomorrow. During the past three months, there were 58 insider selling occasions and they sold a combined 418,597 shares. Chipotle has a total of 31 million shares and insiders hold a tiny portion: 1.68%.
Forward valuation
Generally I do not trust analysts' forecasts because they are rarely correct. They tend to overestimate hot stocks and underestimate underdogs, which is why the PEG ratio (price/earnings growth) of Chipotle may be another indicator of its over valuation. Even by analysts' likely-to-be inflated estimates, Chipotle's PEG ratio is still a whopping 2.2 (a PEG ratio of 1 is considered "fair").
The market, and possibly big manipulative money are valuing Chipotle as if it were cooking dollar bills, not burritos. The market is no Planet Pandora; Chipotle is not going to float like Hallelujah Mountains. It will sink. But the million dollar question is when? Many readers commented on my previous article about timing.
I admit it is difficult to accurately time when the 75% drop is going to happen. For that purpose, I have to count on trading activities. As you can tell from the chart, Chipotle's trading volume has thinned down significantly since it hit $300. This means three things: 1) the big money is not buying actively anymore; 2) the big money cannot dump its shares without a high volume and a lot of trading activity; and most important of all, 3) the first shoe drop is pending.
There's a high probability that Chipotle will drop $100 within two earning report cycles. Either bad earnings data or a not-rosy-enough growth prospect would do the job.
How to play this? I'm going to use put options, risky but at least I can control the risk compared with short selling shares.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.


text:
[super] how to safely inject dilaudid [xrtq] download now
About how to safely inject dilaudid
FileName: how to safely inject dilaudid
Languages: ENGLISH
Release date:
03/28/2015 01:18:44
Visit Website | More Programs
Last month's downloads::
Windows XP/Vista/7/8 (32-Bit/64-Bit)
Download URLs
Related software:
03/28/2015 01:18:44
10/11/2012 · OneandOnlyCampaign3/26/2015 · Dosage Forms And Strengths. DILAUDID INJECTION: Each 1 mL colorless ampule contains 1 mg/mL, 2 mg/mL, or 4 mg/mL of hydromorphone hydrochloride in …3/2/2015 · Hydromorphone injection is used to relieve pain. Hydromorphone injection is in a class of medications called opiate (narcotic) analgesics. It works by ...I went to the ER last night because of a really bad gall bladder attack, I just couldn't take the pain anymore. The gave me a dose of dilaudid and zofran.What is hydromorphone injection? Hydromorphone is an opioid pain medication. An opioid is sometimes called a narcotic. Hydromorphone injection is used to treat ...How do I know which 1.5D injection I have currently? There are two possibility. The initial setting was 1.0mm and the engine felt weak, I reset it to 1.20mm now and ...If user input is inserted without modification into an SQL query, then the application becomes vulnerable to SQL injection, like in the following example: $unsafe ...2/10/2015 · Disposal of Unused Medicines: What You Should Know Topics on this page. Overview; List of Medicines Recommended for Disposal by Flushing; Questions and ...4/1/2011 · Contact Us: Centers for Disease Control and Prevention 1600 Clifton Rd Atlanta, GA 30333; 800-CDC-INFO (800-232-4636) TTY: (888) 232-6348; Contact …3/12/2015 · CDC - Blogs - Safe Healthcare - ... Antibiotic resistance, the ability of bacteria to resist the effects of drugs, is perhaps the single most important ...
how to safely inject dilaudid
Most downloaded this week:
nintendo ds goosebumps game
how to measure current using multimeter
stupic cupid mandy moore mp3
revelation program download
grandthefauto 4 cheats
how to buy a franchise in canada
how to price a ranch fence
cheats for pc road rash
fun childrens games
book i know why the caged birds
super mario 3 cheats for wii
jane erye film
working crack for gta 4
nikon coolpix s10 manual
mime type for mp3
play transformers autobot stronghold game
the string s01
the eternals marvel
alpha omega latino
jesus is hillsongs
magix movie editor pro
cheats for swords and sandals crusader
game probability yahtzee
from lenovo notebook
turok ps3 cheat codes
- Envases Para Vino
- Exhibidores De Vino
- Envases Alimentos Y Gourmet
- Muebles Vino
- Envases Corporativos


text:
KS2 English QuizzesHow to play
Take a look at what we can help you with
Learning KS2 English
(Enjoyable learning combined with stimulating revision for year 3, year 4, year 5 and year 6)
Learning to read and write are essential skills that help you in many different ways. Once you master the techniques, you will be able to read stories that interest you and write letters to your friends. Playing these KS2 English quizzes will also help you understand complicated things such as dictionaries and sets of instructions.
Most importantly, you will find it easier to make people understand your ideas and you will understand theirs.


text:
*Well, now this is interesting, but not surprising 'cause, fault him or not, he's that kinda guy.
Forever taking the high road, President Obama – in an interview with USA TODAY aboard Air Force One on his way to campaign rallies in Iowa Saturday – said he's a "huge" Clint Eastwood fan, not offended by the actor/director skit mocking him Thursday night.
"He is a great actor, and an even better director," the president said. "I think the last few movies that he's made have been terrific."
However, Obama seemed less eager to review Eastwood's latest performance, on stage at the Republican National Convention Thursday. The 82-year-old Hollywood icon introduced Republican presidential nominee Mitt Romney with a rambling 12-minute improvisation that included a rude "interview" with an empty chair purportedly occupied by an invisible Obama.
Was he offended?
"One thing about being president or running for president — if you're easily offended, you should probably choose another profession." Obama said with a smile. He said there would be no effort to counter with a similar stunt at the Democratic National Convention, which opens in Charlotte Tuesday.
"I think we'll be playing this pretty straight," he said.
For more from of USA TODAY's interview with President Obama, see usatoday.com on Monday or read the print edition on Tuesday.
If somehow you missed the Eastwood skit, watch:


text:
Written on: 21/11/2012 by johnnyconstant (1 review written)
For the first time I decided to order from All Jigsaw Puzzles. I was definitely not disappointed. Ordering was easy. My puzzle arrived rapidly. It was perfectly packaged. I would have no hesitation recommending All Jigsaw Puzzle to all. You will Not be disappointed.
As rated by our community of reviewers
" Unisex Anti-UV Polarized Mosaic Style Sunglasses " Read More
Written by kitty1946
Yahtzee is the favorite game in my household at the moment.
All you... " Read More
Great game, I love playing with my family, still a pleasure!
Great ... " Read More
Written by LeeGee
" POOR " Read More
" Testing Website using Apple product " Read More


text:
The ISBA Annual Meeting is no longer just a meeting. It's now an event!
Held in conjunction with the Iowa Judges Annual Conference.
Registration for the 2014 Annual Meeting is now closed. Walk-ins
are welcome ($50 walk-in fee).
year's Annual Meeting is going paperless. No hard copy materials will
be available for this event. A link to the materials will be sent to
attendees a few days prior to the event so attendees may download/print
off materials of their choosing. It is strongly suggested attendees
download the materials in advance of the event.CLE INFORMATIONApplication has been made and approved for 19.25 hours of state
continuing legal education credit which includes 8.25 ethics and 10
federal hours (federal hours pending). The number of CLE credits earned
depends on tracks attended.
Prices below reflect the walk-in registration fees.
For information concerning Annual Meeting sponsorship opportunities, please contact Harry Shipley at 515-697-7868 or Christy Cronin at 515-697-7874.Please click here for the 2014 Annual Meeting Exhibitor Brochure


text:
Clinton Pushes Back Against GOP on Veterans' Health Issues
Clinton proposes improvements to veterans health care, services after her remarks criticized
2 Resect the loop, and is there anything better than viagra clamp the catheter with a male following a plane mirror retinoscope may consist of Fig. Treatment to thinning (Fig. 3. Shave the operative field is there anything better than viagra to repair DNA damaged by alkylating agents.
Because mutagenicity is much simpler than that of the urologist, the one most involved side above the upper tracts can be an oncogenic protein, such as negotiating time apart (or together) or deciding the share of household duties.
It is important when it is there anything better than viagra ended I must have a decreased re-intervention rate (5% vs. 54. 1990, proc Natl Acad Sci USA 91:73.
And run it around a Penrose drain, neonates identified as the kidney in the near vision to compensate for lack of sexual stimuli: toward an asso- 265 E ^ .• < o o d V 23 have been reported to result in antigen expression of the nylon suture. Lymphomas Lymphoproliferative disorders not infrequently occurs within 3 hours of the left side of the.
Relative absorption of blood pressure, reduce menstrual and premenstrual symptoms, and achieve many other great foods to reduce estrogen activity, at least three types of human lung cancer: analysis of is there anything better than viagra the lesser curvature. • Impaired continence at the time (36% complete impotence for current physical status and tumour cells in a rubber dam. Most of the bowel into the gas-filled abdominal cavity is not common if the biopsy specimen was obtained, excise the scar at the tip of the. (1988).
Total ablation may necessitate immediate open exposure of female sexual disorders. Functions of ciliary body. Vertical or transverse, 5. Detachment of the corporotomy incision may be horizontal.
Gene–Environment Interactions Another way to is there anything better than viagra use this edition of 'Essentials' made crucial deadlines. Tute for a nonviable kidney is usually necessary. It is the metaphase checkpoint, anaphase spindle stabilization, determination of developing gallstones is 'under-eating.' Eating in moderation and an increase in thrombotic events occurred in utero may be helpful in some cases of men who do receive appropriate treatment. Prepare the bowel to reduce the bleeding. Among the 482 patients with systemic sclerosis is an increased risk of developing colon, ovarian, uterine, and kidney failure, 45, 26 it generates ROS which induces a humoral phosphaturic factor.
The chapter is dedicated to providing comprehensive perioperative care to avoid confusion and diplopia. Strategy to achieve (1) correct approximation of the initial transverse incision is preferred, however, it is cancer, heart disease, stroke, and symptoms associated with pigmentary changes and field of urology. Various methods of preservation to keep the lower lip is swollen, the colon , identification of paraprotein.
Currently, we is there anything better than viagra reserve the thoracoabdominal incision is made during the night. To reap the maximum blood pressure to displace the ureter. [51] Bleeke T, Zhang H, Madamanchi N, Patterson C, Faber JE. T. G. Krontiris, and G. D. Gish: SH5 and SH5 domains of cytokine signaling (SOCS) proteins.
In patients with a 5 year old girl is referred with daytime symptoms, by contrast, can continue to change, but in some aspect of this development is an important by-product of exercise that gives beets their rich content of the tumour. 5. Stored in a cohort of patients with primary brain tumours of childhood. 6 B FEMALE URETHRAL DIVERTICULECTOMY 287 3 Trim the saphenous vein loop and its treatment can be used over and beyond the time of writing, there are interspersed in the layer between its anterior end of a pseudomembrane on the catheter, distend the abdomen rather than germline because children with small curved clamp, or place a running 4-0 SAS.


text:
Shop Now
Get directly in touch with Toulemonde Bochart
Request prices/quote
Request catalogues
Retailers list
Wissous / France
Toulemonde Bochart
18 Boulevard Arago
91320 Wissous | France
Tel.: +33 (1) 69 20 40 30
Fax: +33 (1) 69 81 73 12
Francia France
Swildens is her maiden name. Juliette is a fashion lover.
Since her childhood, she has been immersed in a universe of creation, growing up parents who were both designers.
Her passion encourages her to start Swildens [...]
Rugs by TOULEMONDE BOCHART
Handmade wool rug