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Gilat Satellite Networks Ltd. (NASDAQ:GILT)
Q2 2010 Earnings Call Transcript
August 10, 2010 09:30 am ET
Tom Watts - Watts Capital Partners
Amiram Levinberg - CEO
Ari Krashin - CFO
James Breen - William Blair
Welcome to Gilat Satellite Networks Second Quarter 2010 Results Conference Call. All participants are present in listen-only mode. Following managements formal presentation, instructions will be given for the question-and-answer session. (Operator Instructions)
As a reminder this conference is being recorded August 10, 2010. I would now like to turn the call to Tom Watts from Watts Capital Partners to read the Safe Harbor statement. Tom, please go ahead.
Tom Watts
Thank you. Good morning and good afternoon. Thank you for joining us today for Gilat's second quarter 2010 results conference call. A recording of this call will be available beginning at approximately 12:00 PM Eastern Time today, August 10, 2010 through August 12, 2010 at 12:00 PM. Our earnings press release and website provide details on accessing the archived call.
Investors are urged to read the forward-looking statements in our earnings release that say that statements made on this earnings call, which are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.
All forward-looking statements, including statements regarding future financial operating results, involve risks and uncertainties, and contingencies many of which are beyond the control of Gilat and which may cause actual results to differ materially from anticipated results.
Gilat is under no obligation to update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise, and we expressly disclaim any obligation to do so. More detailed information about risk factors can be found in our report, filed with the Securities and Exchange Commission.
That said, on the call this morning is Amiram Levinberg, Gilat's Chairman of the Board and Chief Executive Officer, and Ari Krashin, Chief Financial Officer. Amiram, please go ahead.
Amiram Levinberg
Thank you, Tom. Good day, everyone. I would like to begin today's call with the highlights of the quarter, which include corporate updates of the settlement agreement, a run down of our second quarter results, followed by a more detailed review of our business during the quarter. Following the quarterly review, I will take you through the detailed financial results. We will then open the call for questions.
In the second quarter, revenues decreased compared to the second quarter 2009, and we finished with the loss of $1.4 million. During this period, we continued to increase our R&D expenses as planned. The effect of this was somewhat offset by the improvement in the growth margin, which grew compared to the respective quarter in 2009.
Today we also published a press release announcing that we signed a settlement agreement with each of the purchasers against whom we had filed lawsuit in 2008. You will recall that the lawsuit were filed against the parties that had guaranteed the payments of approximately $47 million as a termination fee under the merger agreement that was approved by the company's shareholders in July 2008.
Under the terms of the settlement agreement, the investors will pay Gilat an aggregate approximately $20 million over the half of which will be paid by October 3, 2010 and the remainder could be paid in installment ending in October 2013. The settlement agreement will reach as part of a mediation proceedings that began in April 2009.
The agreement has being signed those certain formalities such as filings in the Israeli court, still need to be completed. As its common settlement document agreement, we are bound by terms of confidentiality and so I trust you would appreciate that I can't provide details beyond our press release on this matter.
The quarter was also highlighted by the completion of the acquisition RaySat Antenna Systems. This is following the announcement we have on March 17 that we reached an agreement to acquire the company. As a reminder, RaySat Antenna Systems provided low profile and light weight antennas as various complete system solutions to the rapidly growing SatCom on The Move market.
The antennas are critical in meeting the stringent requirement of the US DoD which is already a customer operator antenna system. The product portfolio includes different sized antenna to meet varying customer requirements. Following the closing of the acquisition on July 1st, the US operations of RaySat antenna system now operates under the basic integrated government solutions as the international business operates within Gilat's world wide operations. SIGS was established during 2009 to provide fully integrated end-to-end communication solutions for defense, intelligence, homeland security, public safety, federal and civilian government agencies.
As part of the RaySat Antenna Systems deal, we also entered into a definitive agreement to acquire from its sister company RaySat, a research and development center in Bulgaria in addition to certain intellectual property rights. The R&D center will continue to focus on the development of state-of-the-art, low profile antenna systems for Ku, Ka and X-band for the SatCom On The Move market and has award leading grow profile antenna design team of over 60 skilled engineers out of approximately 100 employees in total.
This second acquisition is almost completed waiting for certain approvals required in Bulgaria. We are very excited about the acquisition and expect this move to assist us in expanding our penetration of the defense and government sectors world wide. The market condition in the US continues to be challenging, and there was a decline in second quarter revenues from the US compared to the comparable quarter in 2009. Having said that, we continue to sign new contracts and extensions to existing contracts, during the quarter. Spacenet announced actually today that we signed a contract with Valero to serve as a provider for to serve as a provider for managed network services and also connectivity to its nation wide rented wholesale locations.
I will talk a bit more about this and the managed network services market later in the call.
On the international front, we announced several new contracts in Africa and Asia during the quarter, VTI in Vietnam, ETC in Ethiopia and a deployment of satellite network for defense and homeland security application in Asia.
Revenues in Africa grew this quarter, compared to the comparable quarter in 2009, though this was offset by lower results in the other regions. Our operations in Columbia and in Peru are stable; we are also meeting the operational parameters in our Columbian operations and receiving the subsidy in a timely manner.
Moving the financial indicator summary slide, revenue for the quarter or second quarter of 2010 were $51.8 million, a decline compared to the $56 million in the second quarter of 2009.
We continue to increase our growth R&D expenses by about $700,000, which is inline with our plan for 2010. We were able to improve our growth margins this quarter to 32.6% compared to 30.4% in the second quarter of 2009.
Our cash balances also increased by close to $10 million this quarter, mainly due to exceptional collection. We had a growth in bookings this past quarter and these increased both sequentially compared to Q1 and compared to Q2, 2009. This is a good sign for us looking forward and we hope this is an indicator regarding business for the second half of 2010.
I will discuss the Q2, 2010 results in more detail later in the call.
Getting into a little more detail on our business during the second quarter, I will begin with the developed markets; I will begin with the developed markets.
In Q2 Spacenet signed extension to existing gaming contract, covering three states. This continues to be an important market for us in the US. Our relation with the US gaming industry also opened opportunities in the international market. As these same players often offers services in other markets.
Emergency response and disaster recovery also continues to be an important market for us. These type of application is seen in federal, state and local government as well as enterprises in [telecomm] An example of these type of deployment is an extension contract we have seen this past quarter for AT&T for management and control of their switches as part of their faster service.
Faster EBIT, fast automatic restoration of voice and data, service network elements to an area affected by the disaster be it natural or man made. On the second quarter of 2010, we had several contract expansions as well as new enterprise customers some example of these include (inaudible) and Centerpoint Energy.
In some of these cases, this was for prime connectivity or where the frequency is always being given to provide communication network. Just for reference, this is what we typically provide for the gaming industry. Yesterday, we announced that we signed a contract where we would serve a broadband managed service provider for Valero's nationwide wholesale locations. This will be for primary retail applications and natural back up with up to 4000 locations.
Spacenet would be offering to reassign managed network services with high EBITDA sale and satellite connectivity based on the present core platform. Application in real time include the internet, intranet access, point of sale and credit debit transaction, ATM or Automatic Tank Gauge ATG, WiFi, store royalty program and video security.
Below is the long time customer of Spacenet satellite connectivity and we are very happy with our managed network solution has been chosen by them as well.
This leads me to the managed network services market in general. The US telecom landscape is highly fragmented with particularly no single entity able to provide nationwide connectivity, when a wholly owned wire line infrastructure, the results of a large number of Telco operator, with one report stating over 270 such operators, for these reasons many enterprises prefer to have managed network services, where as single entity managed the connectivity to the branches or enterprise side.
In most cases there is broadband connectivity to these sides, but of various levels of the liability and managing the multiple communication providers is complex task.
Spacenet has been entering these market space usually together with Satellite technology providing a hybrid solution, often based on our premium product. During 2010 we, have expanded our offering to also provide connectivity on pure terrestrial technology even without satellite.
In the beginning of the year, we announced such a deal with Regis for over 7000 sites. We see this market as adjacent to Spacenet's existing market and we have many of the core strengths needed to succeed it.
As I have mentioned before Prysm Pro is one of these being an enabler to provide such services. The recent award of the innovation product of the year for the DC area by SmartVideo was an indication that this product is perceived and satellite not only as a other satellite only product but rather as a solution for the main stream managed network services market.
Now turning to the emerging market, during the quarter, we announced several new projects and activities in Africa and Asia for a variety of applications we saw new networks deployed for enterprise gaming government and defense applications. As I said before, we had a relatively strong quarter in Africa, compared with the second quarter of 2009. One of our announcement was for the satellite network equipment to Ethiopia's SchoolNet project, this is an expansion of an existing deployment and we are proud to be part of initiative structured base.
We also had another large deployment in Africa for gaming this quarter. In this case it was a Turkey project for about 1000 site to be deployed within three months. It was a difficult project to deliver on, as it was in very challenging environment; we were still able to complete it successfully and on time.
We also announced several deals in Asia this quarter. In Vietnam, we are deploying a SkyEdge II network for Vietnam telecom international (NYSEARCA:VTI) a subsidiary of VNPT Vietnam's National Telecommunication service provider. This network will operate all VINASAT-1, the first Vietnamese communication satellite. And we provide a wide range of applications such as broadband intent access, GSM recording and private leased circuits.
Government sometimes (inaudible) to launch a national satellite, as a means to initiate better telecommunication services, and especially broadband connectivity in their respective countries. We have seen several such initiatives such as Vietnam and continue to see these national satellite projects in other regions as well.
For those of you [review] presentation in front of them you can see another deployment in Asia. The picture is from Gorak Shep which is the last village in Nepal on the Everest track before the Everest base camp. It's over 5100 meters elevation. The Gorak Shep VSAT installation is one of the highest in the world. VSAT which enables code from mobile phones and fixed telephony into any location worldwide hosts numerous visitors year long and is part of Nepal Telecom's larger Gilat Network deployment announced last year.
We also announced that we'll be providing network for defense and homeland security in another Asian country because of the nature of this deal we cannot disclose the name of the country, we are being seen for the last year or two more demand for defense and homeland security from the international market and this is an encouraging side. So while the US defense market is largest in the world, we see the growth for defense applications outside the US strong.
That concludes our business overview now before I turn the call over to Ari Krashin I just want to give a small update. I will be relocating to the US while continuing to act as our CFO. This will enable us to increase our efforts to focus on the US DoD market and especially looking for M&A target. This also means that for the US investors it will also be easier to make and on the same time zone as most of you, I am sure you will enjoy your new location, Ari, and now let's review the financials.
Ari Krashin
Thank you, Amiram. for the second quarter of 2010 Gilat's revenues totaled $51.8 million, a year-over-year declined from Q2 2009 $56 million and a quarter-over-quarter decline for Q1 $57.1 million. On a more positive note our quarter-over-quarter and year-over-year bookings have increased so we are hopeful that revenue will be stronger in the second half of the year. Gilat maintains plan investment program in the quarter with growth R&D up $4.7 million, similar to the first quarter was up from the Q2 2009, $4.1 million.
The project that we are investing in are augmenting the capabilities of our corn products as well as creating new products that would expect to begin contributing to revenues growth as early as 2011.
In addition to our internal R&D, Gilat acquisition of RaySat Antenna Systems plus RaySat advanced research facilities in Bulgaria should further explain Gilat product pipeline over the next 12 months to 24 months.
Despite the revenue decline in the quarter, Gilat margin remain robust, gross margin of 32.5% increase will get to Q2 2009 30.4%, gross margin always vary quarter-to-quarter this on our mix between equipment and services revenue. However, the gross margin trends that Gilat has achieved throughout the economic cycle underscores our commitment to further discipline and cost control.
Last quarter we indicated that we incurred over $350,000 of legal and professional fees in connection with the definitive agreement we signed both at RaySat Antenna Systems and RaySat Bulgaria.
In Q2, we incurred additional transaction related expenses of approximately $200,000 to close the acquisition, these expenses should not continue into Q3. Although, we were able to reduce SG&A in the quarter to $14.8 million for Q1, $15.1 million. However, SG&A has increased year-over-year for Q2 2009, $14.4 million this was mainly as a result of the legal and professional fees mentioned above. GAAP operating income for the quarter came in at the north of $1.4 million; deterioration from both Q2 2009 was north of $0.5 million and Q1 in break even level. Give our cost control during the quarter the increased loss of knew almost (slowly) to the lower revenues in the quarter.
Our GAAP net income for the quarter was a loss of $1.3 million or $0.03 per diluted share, compared to Q2 2009 loss of $1.2 million or $0.03 per diluted share, on an non-GAAP basis net income for the quarter was a loss $0.9 million or $0.02 per diluted shared compared to loss of $1 million or $0.02 per diluted share in the same quarter of 2009.
Last acquisition further reinforced focused on some acquisition today, cash balances in Q2 rose to $154.6 million due to positive cash flow of operation approximately $7.9 million as a result of exceptional collections here in this quarter our cash balances available in the third quarter are expected to decrease reflecting the closing of RaySat Antenna Systems and RaySat Bulgaria transaction in an aggregate amount of $30 million and the repayment of the loan from [bank loan] in the month of $4 million in accordance with the repayment schedule.
Our present (Inaudible) at the end of the quarter were $43.9 million representing DSO of $76 million this represents an improvement from previous quarter mainly as the result of our efforts to manage our working capital in focus and payment term, our share holders equity at the end of the quarter totaled $231.7 million, now I would like to turn the call back to Amiram.
Amiram Levinberg
Thank you, Ari. To summarize our call we have a year-over-year decline in revenue each quarter. We continue to increase our R&D spending as planned we improved our gross margins this quarter compared Q2 2009. Our balance sheet remained strong and this quarter we had an increase in our cash. We started settlement agreements with each of the purchasers against whom we had filed a lawsuit in 2008.
This should enable us to now focus all of our management attention to implementing our strategy and on our ongoing business. The quarter was highlighted by completing the acquisition of RaySat Antenna System. This acquisition is part of our focused on the defense and military market. We experience challenging business condition in most of the world region but there are signs that economic activity is improving and the satellite capacity in some region is becoming less. Our bookings increased this quarter so looking into the second half of 2010, we are cautiously optimistic but the business would be better than the third half, this concludes our review, we would now like to open the floor for questions. Operator please.
Question-and-answer session
(Operators Instructions) The first question is from James Breen of William Blair. Please go ahead.
James Breen - William Blair
Thanks for taking my question. Just with respect to the business trends, obviously we saw revenue down this quarter, can you talk about sort of the combination of things that caused that and then where you see the momentum building in the second half is it did you see freight pressure on existing products or is it just competition from other providers? Thanks.
Amiram Levinberg
No I don't think that is competition from other providers and certainly not pressure on price that we saw our growth margin actually increased, its more kind of economical situation in many part of the world having said that bookings actually increased both in the US and in the international market so and that declined for both Q1 and also for the whole half of the year, we also saw couple of million slip into Q3 results no good reason you are going to end of the quarter issue, but as a trend I would say is that bookings were higher in the first half this quarter compared to the previous and second quarter as compared to the comparable results as I understand I would like to be cautiously optimistic that second half of the year should actually look better than first half of the year
James Breen - William Blair
And did you see any large adverse effects, just the currency fluctuations within the quarter?
Amiram Levinberg
Not really the currency fluctuations did not have a significant effect on us. And basically we have lots of expenses in Israeli shekels. However, we used to hedge kind of half a year ahead of time, obviously most of our revenues are in US dollars so most expenses in Israeli currency called shekel, most revenues in US dollars and we try to hedge usually half the year down the road. So, now I wouldn't say that the fluctuation in currencies has a lot of effect on us at this point of time.
James Breen - William Blair
And then just one last question. With respect to your different business lines, where are you seeing the most momentum right now or the greatest amount of sales going forward?
Amiram Levinberg
I would think that Latin America is I think most of the momentum. Africa is kind of relatively small so these are momentums; they are also however it is not a very big portion in our part.
(Operator Instructions) There are no further questions at this time. Before I ask Mr. Levinberg to go ahead with his closing statement, I would like to remind participants that a replay of this call is scheduled to begin two hours after the conference. In the US, please call 1-888-295-2634. In Israel, please call 03-925-5930. Internationally, please call 9-723-925-5930. Additionally, a replay of this call be available on the company's website, www.gilat.com. Mr. Levinberg, would you like to make your concluding statement sir?
Amiram Levinberg
Yes. We'd just like to thank you all for joining us for this quarter's call. Good afternoon and good bye.
Thank you. This concludes Gilat's Satellite Networks second quarter 2010 results conference call. Thank you for your participation. You may go ahead and disconnect.
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text: Florida's One-Stop Source for Used Heavy EquipmentFlorida businesses rely on Ring Power to meet their needs reliably and economically. Ring Power® offers all types of heavy equipment, including earthmoving, paving and material handling machines. Our diverse inventory of used Heavy Equipment has the perfect machine to suit your needs. Heavy Equipment from Our Rental Fleet to YouRing Power frequently rotates late-model heavy equipment out of our rental fleet and into our used inventory. Our rental equipment is expertly maintained by our team of skilled service technicians. Whether you purchase used heavy equipment in Jacksonville or elsewhere in Florida, you want to know the machine's work history. Ring Power maintains extensive records for all used heavey equipment, so you can see at a glance an item's work hours and servicing history. All equipment from our rental fleet is thoroughly serviced and brought to "zero defect" status before sale, so each machine is ready to provide exceptional performance from their first day on the job.Check Our Inventory of Used Heavy EquipmentOrlando, Tampa, Jacksonville—no matter where you do business you'll find Ring Power has the used heavy equipment you need. Our inventory of used equipment includes machines for every imaginable industry. Check our listings for machines such as: • Articulated trucks• Backhoe loaders• Excavators• Gradall telescopic excavator• Integrated tool carriers• Landfill / soil compactors• Multiterrain loaders• Off-road dump trucks• On-road dump trucks• Tractors• Tractors scrapers• Water trucks• Water wagons• Wheel dozers• Wheel loadersCheck our used heavy equipment listings regularly. Ring Power rotates equipment out of our rental fleet frequently, so new listings are always appearing in our used inventory. Contact our knowledgeable and friendly customer service representatives to as for detailed information on listed equipment.Used Heavy Equipment PartsFlorida companies rely on our extensive heavy equipment parts inventory for accurate and speed delivery of replacement parts. In addition, we store a wide array of used heavy equipment attachments for sale or rent, so you're always just a phone call away from the specialized attachment you need.Financing Used Heavy EquipmentTallahassee construction firms, forestry companies and mining ventures across Florida demand the most affordable prices on used equipment. Ring Power's used inventory is competitively priced and reliable.Even used heavy equipment can put a dent in your operating budget, so Ring Power offers flexible financing on our used inventory. Whether you're buying a fleet of used heavy equipment in Tampa or a single water wagon in Orlando, we'll create a financing package with your needs in mind.Contact Ring Power today to discuss all your used heavy equipment needs.


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Las Brisas Resort Ixtapa: Find photos, reviews, information, amenities and compare prices for 5 stars hotels in Ixtapa Zihuatanejo, Mexico.
Located in Ixtapa Zihuatanejo, Las Brisas Resort Ixtapa provides 5-star accommodation, as well as outdoor tennis courts. A short walk from Vista Hermosa Beach, it offers modern rooms equipped with a radio, a private bathroom and a mini bar.
Hotel description
The hotel features a range of facilities, including 24-hour room service, a kids pool and a golf course. Attentive and professional team members are available 24-hours a day.
Las Brisas Resort Ixtapa features rooms equipped with a telephone, plus all the necessities to ensure an enjoyable stay.
A satisfying breakfast is served each morning at Las Brisas Resort Ixtapa, and there are numerous restaurants and eateries nearby.
The hotel is an ideal place to discover Ixtapa Island and Marina Ixtapa Golf Club, as well as everything the local area has to offer. Ixtapa-Zihuatanejo International Airport is within a 20-minute drive.
Hotel features
Room Service, Air Conditioned, Mini Bar, TV, En suite, Private Bathroom
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Fitness Room/Gym, Swimming pool, Tennis Courts, Golf Course, Garden, Spa & Wellness Centre
Private Toilet, Child Pool, Picnic Area/Tables, Souvenirs/Gift Shop
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Anne Hayward is an experienced painter and printmaker whose work has been exhibited at the Royal Academy of Arts and the British Library.
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Sia Gets Her Glamour Shots in 'Move Your Body' Lyric VideoThere are chunky cellphones, crimped hair and more.
Perez Hilton's Daily Update: Coachella Owner Denies Claims He Is Anti-LGBTQHis response comes after Coachella fans started to reconsider their support of the festival.
Sia Shares Lyric Video for 'Never Give Up'It adds to the already powerful message the song conveys.
Top Pop Culture Moments Of 20162016 was a year of exciting pop culture moments. From the Academy Awards to the unlikely election of Donald Trump, and the mannequin challenge, these are the top pop culture moments of the year.
Perez Hilton's Daily Update: The Kardashians Don't Want Blac Chyna To Trademark Her Married NameThe Kardashian sisters wasted no time filing a legal opposition to Blac Chyna's attempt to trademark her married name
Sia Separates from Husband of Two Years"After much soul searching and consideration we have made the decision to separate as a couple," said the pair.
Listen to Sia's New Song 'Angel by the Wings'Otto Bell's The Eagle Huntress tells the story of a 13 year old girl from Mongolia who tries to be the first eagle hunter in her country.
Sia Releases Encouraging Single 'Never Give Up'The track appears on the 'Lion' soundtrack.
Sia, Miguel & Queen Latifah Team for 'Satisfied' on 'Hamilton' MixtapeLin-Manuel Miranda is prepping a mixtape inspired by his Tony Award-winning musical, Hamilton and it's filled with high profile contributions.
Sia Shares Best Halloween SiasA lot of people are dressing up as Sia for Halloween.
Sia's Theatrical Arena Spectacle DazzlesMiguel and AlunaGeorge opened the show.
Sia's Theatrical Arena Spectacle DazzlesMiguel and AlunaGeorge opened the show.


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Word mark
Trademark: 'TRILICONE'
On 19. 5. 2000 the community trademark application no. 001667393 was filed for TRILICONE (Word mark) by Turtle Wax, Inc. before the OAMI.The goods and services in respect of which registration of the trademark was sought are in class 3. The current status of the trademark is registered.
Status is 'Registered'
The Community Trade Mark has been registered for the European Union.
|13. 8. 2001
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How Far Have You Gone To Catch Pokémon?
There's no shortage of odd, funny and even risky tales of the lengths people will go to find Pokémon. At San Diego Comic-Con, we asked people the oddest things they've done to catch 'em all.
Forbes contributor Paul Tassi thinks it's back to WWII.


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May 3 - June 3, 2014
The Warehouse
1119 South Saint Mary's, San Antonio, Texas 78215 Get directions
Shannon Crider, recent Texas Biennial artist, presents her first solo exhibition with French & Michigan Gallery. Inspired by the play Antigone, Crider creates a large work referencing the Sophocles story. Please RSVP at firstname.lastname@example.com


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A bachelor's degree is a post-secondary degree awarded after completed 120 credits. It usually takes eight semesters to complete a Bachelor's degree. While completing an undergraduate course, candidates have to study general courses and chose a major specific subject. A Bachelor's degree can also be called a baccalaureate in certain countries.
Business classes may be taken to help enhance another area of study, or they may prepare students for a career in a large corporation, small organization, or in a start-up business. Courses are offered at institutions all over the world.
France offers a superb higher education system to not only its citizens but also foreigners. The country's dynamic culture attracts foreign students and those interested in pursuing international courses. France has a tradition of scientific and technological innovation. This ensures that scholars fully utilize their creativity.
At the foot of the French Alps rest Grenoble City. It is the capital of the department of Isere. Grenoble has over 140,000 inhabitants. The University of Grenoble has several campus and colleges scattered around the city.
Request Information Bachelor Degrees in Business in Grenoble in France 2017
GGSB's Bachelor in International Business aims at training students for positions of responsibility in an international business environment. By the end of the program students will be able to understand the differences between global and regional markets and to communicate effectively in a business context. [+]
Program description:
Classes are taught in English. Students may follow the program in Grenoble or Paris.
During the 3 years of training, students will develop their business and management knowledge and skills in a global context. For a better understanding of the international environment, in semester 1 of the final year, students have the opportunity of studying at one of GGSB's partner campuses. Students may also choose a major in the final year.
Career opportunities:
This program leads to many career opportunities:
- Financial Management
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Entry requirements:... [-]
The IDRAC Bachelor is a 3 year education program in Marketing and Business Development offered by IDRAC on each of its 10 campuses in France. This Bachelor is taught in French and in English and offers the students [+]
This program trains in 5 years tomorrow's business managers of international corporations. With at least 18 months of on-the-field experience and 18 months abroad, the students smoothly integrate the management [+]


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Weight Loss & Diet Tips
Harvest-Inspired Salads to take you from Summer into Fall
If there's a farmer's market in your area, let your weekly Fresh and Free Additions plan write itself—with bright bushels of fresh seasonal veggies! Here are a few easy harvest-time salad ideas to inspire your next meal.read more
Real Members Share why they Picked Jenny Craig
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Small Ballerina Bowl
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Skultuna Small Ballerina Bowl Polished brass small ballerina bowl. The convex bottom allows the bowl to sway and dance when touched. Clean with mild metal polish and soft cloth. 4.13 inches (diameter) x 1.37 inches (height).
Returns must be postmarked within seven days from the time you receive your order. Items should be returned in original and unused condition with all ByGeorge and designer garment tags still attached. If tags are removed, the item will not be accepted for return. Returns that are damaged or soiled will not be accepted and will be sent back to the customer and a refund refused. Where provided, belts and any designer packaging such as authenticity cards, dust bags, shoeboxes and leather tags should be included with your return. All returns must be approved by ByGeorge.
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Berkeley Lab Opens First Phase of FLEXLAB, a New Laboratory for Energy-Efficient Buildings
Lawrence Berkeley National Laboratory (Berkeley Lab) recently opened the first two testbeds of FLEXLAB, the Facility for Low Energy eXperiments in Buildings. FLEXLAB is a set of testbeds for studying and demonstrating energy-efficient building technologies. Constructed within an existing building, they will allow Berkeley Lab researchers and their partners to study and demonstrate energy-efficient lighting systems and to collaborate in the design of the next generation of energy-efficient, automatically monitored and controlled buildings.
The interior testbeds are the Lighting and Plug Load Testbed and the Virtual Design Testbed. Each is reconfigurable, and can be divided into zones and outfitted as offices. This fall, researchers in Berkeley Lab's Environmental Energy Technologies Division (EETD) held a series of workshops to acquaint potential users with FLEXLAB, which will eventually include additional testbeds in a new outdoor facility. Participants included a broad cross-section of industry, utilities, the U.S. Department of Energy, state and local governments, manufacturers, and the architectural and engineering design community.
"These new testbeds will provide the building industry and the architecture and engineering community with a heavily instrumented facility for developing and validating the performance of new energy-efficient technologies," said Cindy Regnier, the Technical Manager of the FLEXLAB facility. "They will also help them develop integrated building system solutions for reducing energy and resource use and maximizing human comfort in buildings."
The Interior Testbeds Are Ready for Use
The Lighting and Plug Loads Testbed is a densely instrumented living laboratory that can be used to test real-life office environments, allowing for a wide variety of control strategies, ranging from fully automated control to manual control by occupants.
Users can monitor every change in the power use and lighting conditions of the testbed, continuously and in real-time. Every duplex power outlet is individually monitored and can be turned on or off by occupants or be programmed for other controls, such as those that respond to occupancy.
In the Virtual Design Testbed, users will design and develop advanced energy-efficient buildings in a collaborative setting. Participants present in the room, as well as those joining meetings remotely, will put up and modify ideas, share data, and develop designs collaboratively, using building design and simulation tools such as the recently released Simergy tool, which provides a graphical user interface to EnergyPlus. This testbed will be used to help develop interoperable software tools used throughout the building lifecycle from building design through operations.
New Exterior Testbed Construction Is Next
Outside this building, construction teams have begun building four testbeds. When complete, EETD researchers and their public- and private-sector research partners will be able to swap out building components and systems, and then measure, analyze, and improve their performance under real conditions (see rendering). FLEXLAB's exterior facility will be completed late in 2013. The interior and exterior testbeds are comprised of 9,000 square feet of floor space, and are funded by the American Reinvestment and Recovery Act (ARRA) through the U.S. Department of Energy.
In the new exterior facility, each testbed will be reconfigurable—depending on the research plan, users will be able replace windows, walls, access floor, lighting, HVAC systems, and other elements with prototypes for testing. The interior spaces will be reconfigurable—they can be divided into zones and outfitted as offices.
One testbed can be rotated to different orientations with respect to the sun, to adjust the structure's solar exposure as desired. It can reset its position every 60 seconds to align with solar orientation to measure how sun position impacts energy use and interior conditions.
Another double-height testbed is designed to test technologies designed for two-story structures, with applications that include big-box retail environments. These modules will also test technologies such as skylights and clerestories.
Diverse instrumentation in the testbeds will allow users to remotely monitor and control a wide range of variables, from energy use to exterior weather to interior comfort conditions such as temperature, pressure, and humidity. Occupancy sensors, air-flow and room pressure measurements, lighting and glare, and thermal conditions are among the factors that the facility's instrumentation can monitor.
"To develop the extremely energy-efficient, comfort-maximizing buildings of the future," says Regnier, "building designers and developers are moving toward integrated systems, real-time monitoring of building conditions, and advanced control algorithms that optimize both energy use and interior conditions for maximum comfort."
"In this new facility," she continues, "we will have the fine level of data collection and analysis we need, along with the ability to adjust and configure every aspect of the test spaces to develop, field-test, and prove out new technologies, as well as to solve fundamental problems in design and operations that we need to move the building industry to a new level of consistent energy savings."
Total ARRA funding is 15.7 million dollars. Stantec Architecture is the architect of record, with mechanical and electrical engineering provided by Integral Group and structural engineering by Tipping Mar.
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Product & Brand Information
- Item # 494092
- Adjustable ankle strap with buckle closure
- Approx. ¾" platform height
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To show off your tricks and skills, Spartoo.co.uk proposes for both professionals and amateurs and children and adults a line of skate shoes straight from the biggest brands. Each season you'll find the latest arrivals from Globe, DVS, Etnies, DC Shoes and Vans.
Technical improvements are at the service of performance. Here's how the brands design their products. Durable materials, shock-absorbing soles that offer grip to the board and excellent breathability are the principal characteristics of models made for riders.
Skate shoes are as stylish as ever! Bright colours, arty patterns, and creative designs are the fashionable touches which make skate shoes an excellent choice for the city. As such, brands have to keep in mind not only performance, but style as well, to create models which are perfect for any occasion. Skate fashion, or when passion for sports inspires our wardrobes! And if you are looking for a very popular model like Converse One Star or Vans Authentic, Spartoo UK has it!
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The Arlington police detective who was shot in the leg two weeks ago in Saginaw says he is getting better every day.
Bond has been set at $1 million for a hospitalized North Texas teenager charged with killing a 6-year-old neighbor and wounding an officer.
The veteran Arlington police officer shot while trying to serve warrants on the man suspected of killing a 6-year-old North Texas girl has been released from the hospital.
The 17-year-old North Texas man charged with killing his 6-year-old neighbor left a sealed envelope inside his house addressed to his mother with the words, "I love you, I'm sorry," according to a search warrant...
The parents of murdered 6-year-old Alanna Gallagher, whose body was found wrapped in a tarp on a North Texas street, are speaking out to the media, describing the main suspect in the case as a "monster."


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Let's verify how this strategy helps us meet our outlined objectives. The first, was to reduce our break-even point. The table below gives the value of our overall position, stock and options, at the November expiration. Note that there are 2 columns for the short 35 calls since we wrote 2 of these for every 100 shares that we own.
Notice that the total value of the position reaches $40.00 if BBB rallies back to $35. Since our original cost was $40, this means that we have reduced our break-even from our cost of $40 to $35. This is good.
Our second objective was to limit the amount of new capital allocated to this position. In fact, we did not have to commit any new capital to this trade. We purchased 4 calls at a cost of $1,200, but simultaneously wrote 8 calls that brought in the same amount. Cash required: none. Note that quite often this strategy can be initiated for a small debit or a small credit. The small credit is a plus, but a small debit should not be a deal breaker. Given the advantages of the repair strategy, it is definitely worth paying $0.10 or $0.20 per share.
Lastly, our third objective was to avoid increasing the overall risk of the position. For the repair strategy to work, the underlying stock has to rally at least part way back to its original cost. What if it remains at its current price, or continues to fall? If BBB remains at its current price of $30, at the November expiration all of the options will expire worthless. The cost of entering into this strategy was nil, and its ending value is the same. So we may have wasted a little of our time, but there is no financial harm done. Finally, as BBB continues on its downward journey, the strategy does not help (all of the calls still expire worthless) but it does not add to the position's risk. For every dollar BBB falls below $30 we will lose an additional $400, much less than if we had doubled-up.
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Your prayer needs are very important to us. The Prayer Line Ministry will keep you in their prayers.
Your contribution to our Church will be an enduring symbol of your faith and devotion, and will benefit the St. John Baptist Church now, at its inception, and for years to come.
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CBP air interdiction agents track a group racing back to Mexico; suspected drug smugglers; a murder suspect is stopped at the port of entry.
A load of weapons on its way to Mexico is intercepted; a narcotics stash house; surveillance on the banks of the Rio Grande.
New agents get their first taste of action; officers seize tens of thousands of dollars in suspected drug cartel money; special agents seek out corruption within their ranks.


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Please join Rockin' in Rhythm:node/69 host David Cummings and his guest Twin Cities musician and writer Les Block.
This Thursday, November 18, the whole first hour of Encuentro:http://www.kfai.org/encuentro will feature a special section in observance of the 100th anniversary of the beginning of the Mexican Revolution (officially marked on November 20th, 1910).
It will present some of the best known corridos (ballads) by which the Mexican people chronicled the Revolution's most important events and have
This Sunday, August 23, Encuentro:http://www.kfai.org/encuentro will present the classic recording of "Misa Campesina Nicaragüense", the work that, through the liturgical use of folk music and traditional genres, embodies basic tenets of liberation theology: The preferential option for the poor and, most importantly, the Christian mission to bring justice to the poor and oppressed, particul
On two consecutive programs, Thursday, November 14, and Thursday, November 21, Encuentro will present "No basta rezar: La música de la Teología de la Liberación" (To pray is not enough: The music of Liberation Theology). These programs will feature Latin American folk music and songs that have formed a sort of "songbook" for the movement in the Catholic church that has come to be known as "Liberation Theology", and will play examples from a number of Latin American masses that capture this movement, with a special emphasis on the "Misa Campe
The Music of jazz pianist Randy Weston will be featured on Rhythm and Grooves:node/63 (10:30 PM – Midnight, Tuesdays) February 12.
North Country Bandits are guests Wednesday night on KFAI's "Live From Studio 5!" Don't miss this show. You can hear it live on FM at 10pm at 90.3fm or 106.7fm or on the Internet at kfai.org. Don't worry, if you miss the show you can hear it for up to two weeks any time from anywhere in the world at http://www.kfai.org/node/28988
The North Country Bandits are no stranger to KFAI.
Don't dive, but rather CANNONBALL into the New Year with a night of the NOW sound on Jet Set Planet:node/94.
The Pines were a special guest on Pam Without Boundaries on Tuesday, June 5, 2007 as they played songs from their debut release on Red House Records, Sparrows in the Bell.
Local group The Pines join Pam on Monday, January 30th, 11am, to give a preview of their new album, "Dark So Gold," out January 31st.
David Huckfelt and Benson Ramsey are the founding members of The Pines, signed to Red House Records in 2006. "Dark So Gold," their third album, marks a physical growth in the band from duo to seven members.
Tune in to Freewheelin':http://www.kfai.org/freewheelin between 9:00-11:00 Monday morning, October 19 as host Jackson Buck presents an in-studio performance by roots-artists The Pines:http://www.thepinesmusic.com.
The Pines have just released their new CD Tremolo on Red House Records:http://http://redhouserecords.com/Pines.html and will host a CD Release Party at the Cedar Cultural
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Showing Results: Most Recent
This review is from: ThinkPad Twist S230u (33476LU) Intel Core i7 8 GB Memory 500 GB HDD + 24 GB SSD HDD 12.5" Tablet PC Windows 8 Pro 64-bit
Pros: Price, size, touch screen, keyboard
Cons: Battery life, Lenovo support, touch pad, reliability
Other Thoughts: I wouldn't do it again. I went with this ThinkPad over several Dell models thinking it would be made better and Lenovo support would be better. I was wrong on both. From the very first day it had a problem waking up from standby mode, it would just hang for a while and then reboot, causing me to lose anything that was open and not saved. Also, the touch pad was acting erratically. I should have returned it at that point. Instead I called Lenovo Support and then the problems began. They overnighted a box to me and I shipped it to the depot for repair. When I got it back 2 days later, nothing was fixed so I sent it in a second time. This time around one of the issues were fixed but not the other one and new problems were introduced. Also most parts have already been replaced for no reason - motherboard, keyboard and keyboard bezel, hard drive, all to no avail. I just got off the phone with Lenovo again and it seems that they are unable to resolve this, which renders the warranty on the machine useless. I am not sure what to do next...READ FULL REVIEW
This review is from: Ballistix Sport XT 16GB (4 x 4GB) 240-Pin DDR3 SDRAM DDR3 1600 (PC3 12800) Desktop Memory Model BLS4K4G3D169DS3
Pros: Good memory overall
Cons: None
Other Thoughts: The memory went into some work systems used for heavy duty graphics processing. So far it's been working great. I haven't been able to really challenge it either but I've had no issues whatsoever. If it works the same way and lasts it wil be perfect. So far 5 eggsREAD FULL REVIEW
This review is from: Fosmon 7-Port USB 2.0 Hub with Built-in USB Cables - Black
Pros: Does what it says
Cons: None so farREAD FULL REVIEW


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Comment Re:In an ideal world... (Score 5, Informative) 396
In the K-12 district for which I work, there have ~600 staff (teachers/non-teachers), ~7800 student users and about 3000 workstations + notebooks. We're a Windows (XP for educational software product requirements) shop and run AD. In the past two years we've reigned in administrative users [even I, the sysadmin, run as a limited user on my workstation] and implemented a fairly detailed SRP White Listing. These two changes alone greatly reduced not only issues with crap-ware infections, but greatly reduced technician support time requirements.
The vast majority of our users [excluding the students who can no longer run proxy software] Do. Not. Fucking. Hate. Us. You would be surprised how happy people are when their computers "just work" and don't require cleaning/futzing every couple weeks.


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Most funds down or flat
Around 70% of funds reported flat or negative performance for the week ending 28 September 2012, according to figures reported to the Absolute UCITS database.
The median of the 363 alternative UCITS funds that reported data during the reporting period was down 26 basis points.
The worst performing single manager fund during the reporting period, and for the second consecutive week, was the MS Algebris Global Financials Fund which lost 5.24%. The Algebris fund follows a global equity strategy.
The global equity median was down 0.96% for the reporting period and was one of the worst performing sectors


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Engines Complete Listing
This is a concise listing of all engines. For more detail click on the name of the engine.
You can also do a SEARCH on these listings.
|Aston Martin Vantage 8 2008 Aston Martin Vantage eight 4.3 L engine, 12k original miles. US $2,850.00 Firm
|BMC 999 short stroke inline Bonneville record holding 1 liter BMC 5 port US $9,000 obo
|BMW M12/7 Original parts €15,000 Euro
|Buick-Menard IRL Indycar Engine Buick-Menard Buick_Menard IRL Indycar Used Engine US $14,500.00
|Chevy 2002 GEN II IRL 700 HP 2002 CHEVY IRL (INDY CAR) RACE ENGINES,FOURTEEN TO CHOOSE FROM, 700 HORSEPOWER US $20,000 FIRM
|Chevy 2002 Indy Car Engine 2002 Indy Car Engine With Known History US $16,000 Reasonable Offers Considered
|Chevy 381 ci Chevy Drag Engine Professionally Built Drag Engine 381 ci US $15,000 OBO
|Chevy LS1 5.0L Aluminum GM LS1 5.0L, DYNO TIME ONLY US $9,950
|Chevy LS2 6.0L Aluminum GM LS2 6.0L, DYNO TIME ONLY US $20,500
|Chevy Small Block 355 Sm Block Chevy. US $5,500 OBO
|Chrysler Chrysler Alan Johnson 526 Hemi engine with Whipple Blower US $150,000
|Cosworth 3.5 DFR xx US $39.000
|Cosworth BDG BDG ready to go US $45,000 or
|Cosworth BDJ Cosworth BDJ US $4,800
|Cosworth DTM Cosworth DTM US $25,000
|Cosworth EAA Cosworth Vega 2.0L (EAA) engine for your unique project(s). US $1,600 neg.
|Cosworth KF Opel DTM DTM US $25,000
|Coventry Climax FPF MK1 Coventry Climax FPF MK1 #FPF 430/3/1203 US $4,500 Neg.
|FORD 4 Cam 32 Valve Indy Car Engine 1965 -1966 - 1967 DOHC FORD INDY ENGINE US $27,500.00
|Ford 347- 585HP Road Race engine Ford 347 -585HP Road Racing Engine US $15,000.00 OBO
|Ford 351 SVO Alky Drag Ford Inj Alky 351,SVO,Yates,Tit Valves,850+HP $5000.00 US $5,000.00
|Ford BDA Iconic Ford race motor from the 70's US $12,500
|Ford Modular 4V 5.0L Ford Modular 4V V8 Dyno Time Only US $15,500
|Ford kent 1600 cc FF stock Formula Ford 1600cc kent motor with Zero time on recent tune up. US $5,000.00
|Ford twincam Fresh Wenz Ford twincam 195+ hp US $25,000.00
|JUDD JUDD EV 72 This EV Enjine which is in a spledid state is the all over the world US $60,000
|Lotus 1.6 Twincam Lotus 1,6 Long Block Complete engine and gearbox US $9,500
|Lotus Twin-Cam 1.5-liter Ford Twin-Cam, all-new bottom end, 180 hp US $12,500 OBO PRICE REDUCED!
|MGB 1800 5 main bearing 5 main bearing MGB 1800cc (+0.030) race engine built by Ed Pink Racing. US $25,000.00 OBO
|Offy 90 c.i. Rare, one of only two 1946 Offy engines produced for Indy US $30,000 OBO
|Pontiac Trans am Call me for details and video of the engine running. US $5,000
|Porsche 1967 911 2.0 long block great project for restoration US $10,000 obo
|Porsche 356 One of a Kind 356 Porsche Outlaw Engine US $15,000
|Porsche 911 3.5 RSR Andial built Porsche 911 RSR 3.5 twin plug endurance race engine US $30,000 OBO
|Renault Clio R3 ready to ride. €3,500 Euro
|Renault Megane 2.0 F4A Ready to race €6,500 Euro zł
|Renault Sport Type F4R FRS Formula Renault 2000 Engine US $7,500.00 OBO
|Toyota 4A-GE Toyota Atlantic Engine for sale - Lower Price US $5,000
|Toyota 4AGE Complete Atlantic Setup plug and play 18,999 Australia Dollars