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Check Point Software Technologies (NASDAQ:CHKP)
Q3 2006 Earnings Call
October 19, 2006 8:30 am ET
Anne Marie McCauley – Director of Investor Relations
Eyal Desheh – Executive Vice President, Chief Financial Officer
Jerry Ungerman – Vice Chairman
Gil Shwed – Founder, Chairman and Chief Executive Officer
Sterling Auty – JP Morgan
Walter Pritchard – SG Cowan
Todd Raker – Deutsche Bank
Gregg Moskowitz – Susquehanna Financial Group
Shaul Eyal – CIBC World Markets
Robert Breza – RBC Capital Markets
Sarah Friar – Goldman Sachs
Edward Maguire – Merrill Lynch
Christopher Hovis – Morgan, Keegan and Company
Katherine Egbert – Jefferies and Company
Dino Diana – UBS Securities LLC
Ehud Eisenstein – Oscar Gruss & Son
Good morning everyone, my name is Brianna and I will be your conference operator today. At this time I would like to welcome everyone to the Check Point Software 2006 Q3 earnings conference call. Operator instructions. It is now my please to turn the floor over to your host, Anne Marie McCauley. Ma'am, you may begin your conference.
Anne Marie McCauley – Director of Investor Relations
Thank you, Operator. Good morning and afternoon. I'm Anne Marie McCauley, Director of Investor Relations for Check Point Software. Thank you for joining us to discuss the Q3 2006 results. As a reminder, this call is being webcast live from our web site and is being recorded. To access the live webcast and replay information, please visit the Company's web site at www.checkpoint.com/ir. The replay will be available through November 2. If you would like to reach us after the call, please contact the Investor Relations Department at 650 628 2050. On the call with me today is Gil Shwed, Chairman and CEO; Jerry Ungerman, Vice Chairman; and Eyal Desheh, Executive Vice President and CFO.
Before we start our management presentation I would like to read the following disclaimer. During the course of this call the Company will make certain forward-looking statements. Forward-looking statements include statements regarding Check Point's expectations and beliefs regarding operating results for the fourth quarter of 2006; initiatives to increase revenue; the competitive position of and capabilities of Check Point's products; trends toward larger transactions, Check Point's ability to compete in sales to government agencies, and Check Point's plans to enhance its product architecture and expand the specific accounts and partner program. Other statements which may be made in response to questions which refer to our beliefs, plans, expectations or intentions are also forward-looking statements for purposes of the Safe Harbor provided by the Securities Litigation Reform Act. Because these statements pertain to future events, they are subject to various risks and uncertainties, and actual results could differ materially from Check Point's current expectations and beliefs.
Factors that could cause or contribute to such differences include, but are not limited to, the impact on revenues of general market conditions in the Company's industry; the mix of sales of new products and long-term subscriptions; economic and political uncertainties; the impact of political change and weaknesses in various regions of the world, including the further escalation of hostilities or acts of terrorism in Israel; the inclusion of network security functionality and third-party hardware or system software; any foreseen and unforeseen developmental or technological difficulties with regard to Check Point's products; changes in the competitive landscape, including new competitors or the impact of competitive pricing and products; rapid technological advances or changes in customer requirements to which Check Point is unable to respond expeditiously, if at all; a shift in demand for products such as Check Point's; factors affecting third parties with which Check Point has formed business alliances; timely availability, features, performance and customer acceptance of Check Point's new and existing products; the amount of equity-based compensation charges; the ability to recognize deferred revenues and other factors and risks discussed in Check Point's annual report on Form 20-F for the year ended December 31, 2005, which is on file with the Securities and Exchange Commission.
Check Point assumes no obligation to update information concerning its expectations. Now, let me turn the call over to Eyal Desheh for financial review.
Eyal Desheh – Executive Vice President, Chief Financial Officer
Thank you very much, Anne Marie. Good morning and afternoon everyone. Let me share with you the results of a good quarter and provide some more details on the financials. Our Q3 results came in at the high end of our projections and demonstrated annual growth in revenues and non-GAAP profit. We experienced healthy interest in our new perimeter security product line, especially the UTM offering, which had favorable results, tied to enhancement we made through subscriptions, support and service initiatives which can be seen (inaudible) YoverY increase in service (inaudible).
Our consumer business generated nice growth and is now available in all major retail stores, and we have noted for many quarters that we have experienced continued success in our SmartDefense program. As a reminder, our quarterly results for 2006 include the impact of SFAS123R, the inclusion of equity compensation in expenses in the P&L and our GAAP financial results. In our press release, which has been posted on our website at www.checkpoint.com, we are presenting GAAP and non-GAAP results and reconciliation tables which highlight this data. Let me share with you the financial details for Q3 2006. Revenues for Q3 were $142.5 million compared to $141 million in Q3 2005 and $139 million in Q2 this year. GAAP net income for Q3 2006 was $71 million compared to $79 million in Q3 2005 and compared to $66 million in Q2 this year. Equity?based compensation expenses accounted for $6.5 million in this quarter. Non-GAAP net income was $79 million compared to $80 million in Q3 2005 and grew 3% over Q2 this year. Operating expenses for Q3 were $72.1 million. Non-GAAP operating expenses were $64.1 million compared to $58 million in Q3 last year and compared to $64 million in Q2 this year. The annual increase in expenses is a result of growth in head count mostly in R&D, sales and technical services. Our total headcount grew by more than 100 employees this year and is now over 1,500.
Total operating income was $70 million and non-GAAP operating income was $78 million, down from $83 million in Q3 2005 and up 5% from $75 million last quarter. Our effective income tax rate was stable at approximately 17%. GAAP earnings per diluted shares for Q3 of 2006 was $0.31, the same as $0.31 last year and was up 15% from $0.27 last quarter. Equity-based compensation had a $0.03 impact on GAAP EPS. Finally, non-GAAP EPS for Q3 2006 was $0.34 compared to $0.32 both last year and last quarter, an increase of 6%. Deferred revenues this quarter were $173.4 million, an increase of $29 million or 20% over Q3 2005, and only a slight decrease of $3.1 million or 2% compared to last quarter which was less than our historical seasonal decrease.
DSO for Q3 were 60 days compared to 54 days in Q3 2005 and 55 days in Q2. In Q2, we generated cash from operations of $75 million excluding share repurchase. Our cash and investment balance at the end of the quarter was $1.6 billion. During Q3, we purchased approximately 11.5 million shares for a total cost of roughly $201 million as part of our expanded share repurchase program. Our Q3 revenues again were well diversified, with America contributing 46% of revenues, EMEA contributing 41% and Asia Pacific and Japan region contributed 13% to our revenues this quarter. For Q3, our emerging products contributed approximately 30% of our product revenues. In Q3 our large orders which are greater than $50,000 accounted for roughly 27% of total orders. In Q3, we had seven deals between $500,000 and $1 million and five deals which were greater than $1 million. This brings the large deal count for the year to 18 deals in the range of $500,000 to $1 million and 12 deals greater than $1 million. This is from the beginning of the year.
These kind of large deals are a result of successful initiatives with large accounts whereby Check Point becomes the major provider of network security solutions. We'll continue to grow our install base, adding 21,000 gateways, bringing the total to over 528,000 security gateways. In summary, we are pleased with the financial results we posted this quarter. Our working environment has not changed dramatically in 2006 and we believe that our performance and execution has improved and we are headed into the final quarter of the year with a robust product portfolio. I will now let Jerry and Gil speak more about our business and our plans. Jerry, please go ahead.
Jerry Ungerman – Vice Chairman
Thank you Eyal, hello everyone. Thank you for taking the time to be on the call with us today. Following Eyal's review of our financial highlights, I would like to focus my comments on some business highlights for the quarter that we think are important aspects of our growth strategy. First, we have collaborated with Intel in developing high performance security. Working together, our software engineers and Intel's hardware engineers modified the Dual?Core Intel Xeon Processors 5100 bios to deliver optimized performance for our security solutions. As a result, Check Point has achieved an industry first 10Gb per second using an open server approach, a speed unmatched by any other software security vendor. This approach allows customers the flexibility of software with the higher performance of hardware at an unbeatable price performance ration.
Second we announced that we were awarded the EAL4 US Government certification for all four critical network security categories: firewalls, VPN, IDS/IPS and remote management. Check Point products meet and exceed the stringent requirements established by government standards, government approval processes and security industries test. With this certification we believe we are the only security company to offer government agencies a complete certified, unified security architecture. This should allow us to compete more effectively and sell to government agencies all over the world which highly value this certification.
During the quarter, we also hosted the Check Point Experience Event for partners and users in Asia Pacific, which included technical and business discussions and product demonstrations to improve technical know-how and expertise for attendees. We had record attendance at close to 700 participants. Our new collaborative enterprise support program, CES, was expanded into the Asia Pacific region during the quarter based on the initial success of the new support program we launched in Europe in Q2. This is the new support program and is a combination of subscription and support delivered jointly by Check Point and our partners. It is designed to add more value to customers and partners by improving the support our customers receive.
Finally, we won a number of awards during the quarter, for both our consumer products and new UTM solutions that are focused on providing not only the best security but also solutions that are easy to use and cost effective – a compelling combination. While we still have much to as we move into Q4 and the next year, we are pleased with the initial success across a number of new initiatives. A key component of our growth strategy is our unified security architecture, which is resonating not only with customers and partners but is a concept being embraced by many industry analyst firms. In fact, just last month Gartner held a conference focused on the importance of customers having a security architecture and the need for flexibility to deal with the dynamics of evolving security threats. The initial acceptance of our new VPN?1 UTM solution was positive and we were also pleased with our results across all geographical and market segments, especially with the improvements in our business results in Japan, which is primarily the result of the restructuring we began implementing this year in addition to bringing on our new country manager this quarter.
Europe also turned in a very nice performance during the quarter. In summary, we still have to focus on our execution of these many new initiatives as well as launching some additional ones that we believe over time will result in the top line growth consistent with our strategy that we have been discussing with you this year. Thank you again for being on the call with us today and I would now like to turn the call over to Gil Shwed.
Gil Shwed – Founder, Chairman and Chief Executive Officer
Thank you, Jerry, and good afternoon everyone. We're pleased with the solid results generated in Q1, especially given that it's specifically a seasonally low, slow quarter. Many of our highlighted financial metrics increased compared to last quarter and we had annual growth in key areas, including revenues, deferred revenues and non-GAAP EPS. Furthermore, we came in at the higher end of our projection. Another favorable trend in the quarter was the continued success of our unified security architecture. We have been working with many customers around the world to endorse the Check Point Unified Security Architecture as the framework for their security infrastructure. During Q1 we saw an increasing number of major customers endorsing it and placing multi?year procurement projects with us.
These include customers from different sectors and different parts of the world. Examples include one of the world's largest global financial institutions, one of the world's largest publishing sectors, a nationwide utility company, a global sales chain, one of the world's largest shipping companies and a few government agencies where we displaced competitors. These are a few examples of customers that participated in our strategic program.
Going forward, we intend to continue to enhance our architecture. We will extend our architecture to additional security segments and we will expand our strategic account programs around the world. Finally, we intend to continue and work with our channel partners to deliver these values to customers of all sizes.
Now let me share with you our results of financial targets for Q4 2006. We expect Q4 revenues to be in the range of $153-166 million. GAAP EPS is expected to be between $0.34 and $0.37 and non-GAAP EPS, excluding the effect of stock-based compensation and exposition related charges is expected to be in the range of $0.37 to $0.41. In summary, we will continue to execute on our architectural plan and hope that these efforts will drive our business in the coming quarters and coming years. Thank you again for participating in this call, and with that I would like to open the call for your questions.
Question-and-Answer Session
Operator instructions. Our first question comes from Sterling Auty – JP Morgan.
Q – Sterling Auty – JP Morgan
I missed it as you went through, can you describe the geographic performance that you saw? Specifically what you saw in north America and what you saw in Europe?
A - Eyal Desheh
First of all, I'm very pleased to say that all our geographies performed well this quarter. I think most notably we had a very nice performance coming from Europe. In Q3 (inaudible) is usually slow in Europe. We had a very nice pick up in business over there. We have had a very nice improvement in Japan, Jerry mentioned, due to a management change that is already delivering. Our Japan business is beginning to grow again. Asia, mostly, or China, Korea and Taiwan is all very well. America has done fairly well also, but I think the geographical highlights were Europe and Japan.
Q – Sterling Auty – JP Morgan
If you gave the geographic splits I'll get them off the transcript, if not if you could repeat them that would be great. The other question is on worldwide sales – there have been some articles in North America about potential changes that you might consider here. Can you review what you've done here in North America so far and what additional changes we might expect?
A – Gil Shwed
I don't know what this article refers to, but generally we intend to keep the structure that we have and we intend to keep investing in our channel partners to put a lot of focus on some of our strategic accounts. I don't know, Jerry, about major changes other than that.
A – Jerry Ungerman
I'll address it, because I've been working on it and been involved with a lot of our partners on it. As we said before, it's just a continued evolution. It's not North America only, this is all worldwide, it's all global. We had consistent programs of what we're doing regarding our relationship at the partner level. The investment we make, the investment they make and how we're doing. It's just an ongoing continuing thing that we've been doing for my eight years here. I don't know if the article said it that way, but I read it that way because that's what we talked about. It's just a continuation of – you know, being 100% indirect, our channel partners are very important to us as we always focus on them. If the world changes, the dynamics, the flexibility you need to have requires changes and modifications and improvements in programs and that's what he's doing and that's what we're doing, but it's all over the world. It's not just North America.
Q – Sterling Auty – JP Morgan
Then lastly, can you address the competitive landscape? It seems like Juniper may still be struggling with some of their IDT types of initiatives. Does that give you an opportunity to pick up a little market share?
A – Jerry Ungerman
I was going to say, the competitive market share is about the same. Maybe we are there specifically, but I still think Cisco still is our number one competitor in the marketplace. I don't think we see Juniper as much as we used to. I don't think they're doing as well. I don't know about any specific product area, because we generally just look at ours and how we're doing and what we're doing in the marketplace and our competitive wins etc. It's still a very competitive marketplace but there's not many of us out there any more. With us being left as the only true, major software security vendor for the network infrastructure, I think we're in a very good position. We need to keep on putting together our programs and our execution plans and executing to them. Gil talked about some of the new things we'll be doing down the road at a high level. I think it well positions us in the eyes of the customers on a global basis, as we can see in some of our very large orders we're winning and I think we'll continue to win to expand our offering in the months and the quarters in years to come.
Our next question comes from Walter Pritchard – SG Cowan.
Q - Walter Pritchard – SG Cowan
Jerry, you mentioned off hand some changes in (inaudible) in Asia. We've started to hear a little bit about how that will be rolled into North America I believe maybe in this quarter or the beginning of 2007. Could you go into more specifics on the changes there and specifically how it impacts your numbers. It appears that line has been relatively flat for quite a while and it picked up a bit this quarter.
A – Jerry Ungerman
Yes it did, Walter. We don't know what we're going to do on North America. On the support programs, we have multiple support programs on each region. It depends upon the customers, the environment, the partners and who is providing what. It's all focused on how to get the highest levels of customer satisfaction which I think we do a pretty good job on in North America and the rest of the world. It's a new program that combines partner support and Check Point support. I think traditionally, either the partner would give support or we would give support. We always provided the underlying software subscription, as you know. What we did, and in Europe it was very well received, and it went into Asia Pacific this last quarter, is we offered a new option which is a combination of getting support from both the partner and Check Point. The subscription still comes from us but now the support is combined it makes it very seamless and easy for the customers. We'll evaluate that in North America too. If it makes sense here, we can either roll out that program or some modified program that is applicable to the specific market, but yes, that did drive the growth of our support revenue. We think it's improved customer satisfaction significantly and the partner satisfaction, in that we can work so closely together to provide frontline support as opposed to just back line support.
Q - Walter Pritchard – SG Cowan
Eyal, on the buyback, you bought back more this quarter than you had in the past couple. You had about (300 or so million?) left on the buyback. Could you just tell us of the $1.7 billion or so in cash you have on the balance sheet, how much do you look at it as needing to reserve for operating the business and keeping options open on acquisitions?
A - Eyal Desheh
This money and additional cash flow that we generate every quarter is there to increase and expand our business status, that is primarily the reason why the money is there. The improvement can come from bottom line EPS (inaudible) or from possible acquisitions in the future so I don't think it's relevant to discuss how much exactly that we need to run the business. We're cash flow positive on every day and every week, the money is reserved to invest in the future and I think we'll be able to do this wisely.
Our next question comes from Todd Raker – Deutsche Bank.
Q - Todd Raker – Deutsche Bank
Given the strength in Europe and Japan, can you comment on any FX impact this quarter and what the impact would have been on the revenue line?
A - Eyal Desheh
The foreign exchange impact in the quarter on the revenue line is minimal. Most of our sales are denominated in US dollars. We did have some impact from the (inaudible) which was re-evaluated and that's stronger versus the dollar this quarter as part of our expenses of course in Israel. That probably had an impact of about half a million dollars on expense increase, but that's basically it.
Q - Todd Raker – Deutsche Bank
Large deals really picked up nicely this quarter relative to your trends in the first two quarters. Can you give us a little bit more insight in terms of customer verticals or geographic verticals in terms of where you're seeing the larger deals?
A – Gil Shwed
I think I might have alluded to that in my text and I gave a few examples. I think if you remember the examples, the examples were from all over. We had the major shipping company, one of the world's largest financial institutions, one of the worlds largest food companies, a few government agencies and a few more so I mean as you can see it's not necessarily one – it's all over the matter. We had a few technology companies, one or two in the quarter and bigger ones in previous quarters. It's not coming from just one sector.
A – Jerry Ungerman
It is global.
Q - Todd Raker – Deutsche Bank
Last question. If you look at your unified security architecture, clearly you guys tried to buy (inaudible) and you couldn't get that done for rhyme or reason. Are there any product holes within your offerings today and how do you guys look at smaller technology acquisitions for the end of year strategy here longer term?
A – Gil Shwed
I'll try to answer that. First, I mean, architecture doesn't necessarily mean that we need a supermarket that has everything. If you look at the industry we are in, there are 600 security companies. We're not trying to say that we're providing the framework or the architecture or we're going to compete or have what each one of these 600 companies have. We are going to add the framework, we are going to add the basics, we are going to get something that through our optic alliance can connect to many, many other products. Included in the detection prevention is a technology that we did put on our roadmap and it's still there and we're still committed to that architectural solution. It will get there sooner or later. What we are looking at right now is not just to strengthen the existing framework, but to expand the framework and for additional areas that we can add. We cannot discuss which areas yet, but we are researching multiple areas. We are starting to have more time for execution and I'm sure that in the next – every quarter out of the next few quarters, we are going to see more and more and more progress coming in that direction.
Our next question comes from Gregg Moskowitz – Susquehanna Financial Group.
Q - Gregg Moskowitz – Susquehanna Financial Group
Getting back to Europe and the strength you saw there, from what I can tell it looks like about a 5% sequential increase and that's the first time that you have seen growth in Q3 sequentially in about six years. I'm sure the support program did help somewhat, but I'm just wondering if you can give any more color in terms of what else you would attribute that strength to. Also, if there are any particular reasons within Europe that kind of drove more growth?
A – Gil Shwed
I must say it's a little bit hard for me to quantify the extra strength we saw, because in Europe it was still the summer quarter, people were still on vacations and we saw that as well. I think some of it is attributable to the new collaborative enterprise support programs that we had. That was still growing the support revenue. I think they help in having a better relationship with the channel and working better with the channel and the customer presenting a more unified front, being closer to the customers and so on. This has additional benefits that are hard to quantify. Some of the strength in Q3 was things that didn't come in Q2, because I think Q2 wasn't the strongest we wanted. I have something that came from the first half of the year. Overall, because in Europe we sold very nice growth YoverY and QoverQ, even beyond that. Part of that would be the ongoing build up that we have in our programs and products. Jerry, I don't know if you have more?
A – Jerry Ungerman
No, I think that's spot on exactly what's happening in the marketplace about execution and timing and things are happening. We need to continue to stay focused in the same regard and continue with new initiatives and new programs. I like the direction we're going.
Our next question comes from Shaul Eyal - CIBC World Markets.
Q - Shaul Eyal - CIBC World Markets
Good quarter, guys. A couple of quick questions, for the next quarter are we still expecting the same breakout between the product subscription and services for the most part?
A - Eyal Desheh
We hope to increase the product line so I would try to make a precise forecast. We would like to see some more products and licenses in Q4.
A – Gil Shwed
Q4 is a little bit stronger, usually, on the license products side and on the other hand, we expect to continue to see growth in the support side. I think we'll just see the continuous trends that we've seen.
Q - Shaul Eyal - CIBC World Markets
As you look at the number of wins you've had this quarter, are these mainly displacements or just new customers being brought on board?
A – Gil Shwed
It's a combination. I think we have all of that. There is some of it in displacements of competitors, most of it is new projects and some of it is architectural wins that are very important. It's not just the size of the initial order that we get, it's the fact that these customers commit to a three year procurement plan from us and that's very helpful in forming the relationship. All the cases I mentioned all generated between hundreds of thousands to millions of dollars and over the last quarter they also generated over a million dollars in revenues in the quarter. It wasn't necessarily the end game, there is much more to come in the next two to three years.
Q - Shaul Eyal - CIBC World Markets
What's the current status with Sourcefire? Obviously the acquisition didn't take place, what is the current thinking and status?
A – Gil Shwed
As I said before, we are still committed to our roadmap in terms of intrusion detection, intrusion prevention technology and having the best parts of our portfolio and parts of our products in different and various ways – right now we don't have a specific announcement to make, but I hope that we'll have something soon and we will notify how we intend to deliver then.
Operator instructions. Our next question comes from Robert Breza – RBC Capital Markets.
Q - Robert Breza – RBC Capital Markets
Jerry, you talked about some of the new initiatives – could you talk about maybe at a high level what those might be and where you're going? Do those initiatives, when you look at the guidance range, it widened this quarter relative to the last couple of quarters. Is it predicated on these new initiatives taking hold or what was the main driver behind the widening of the guidance range and what might it impact you at the high or the low end?
A - Eyal Desheh
I will take the last one and Jerry will take the first part of the question. Regarding guidance, this is not unusual. This is more of the ranges we have been providing. The future is hard to predict so we want to be careful. We wanted to try and beat you guys each time with our reporting, so that's why we're having a broad guidance. Just to make sure that we see what you see and the predictability in this market is not becoming simple, it's not becoming more complicated. I'll let Jerry talk about the initiatives.
A – Gil Shwed
One more think, Q4 tends to be the most back-end loaded quarter with a very strong finish and that poses a big reach factor, it also poses the biggest topside, it's also expected to be good. We are very optimistic going into it but once you get a quarter like that, it obviously decreases the range of guidance and that means we have to take multiple scenarios into account. Hopefully we will be within that range. Hopefully we will be at the upper end of the range, but none of that is guaranteed, as we all know.
A – Jerry Ungerman
I agree with everything Eyal and Gil just said, because it is a very dynamic business, and you guys know this. That's not a surprise. We have a number of initiatives and we talked about them not only during the remarks we made – the prepared remarks and in advance, but also in the last few quarters. It stems off the macro view, our vision of this unified security architecture. But then, we've done a number of things, both on the consumer side and the enterprise side with new products, technologies and solutions, UTM, the power. There have been more options this quarter with some of the new suites that we have, but it's not only products, it's also our restructuring that we've done and new initiatives we've put in place, like the CES program that the talked about, the collaborative enterprise support, the new strategic account program that we talked about just briefly and Eyal and Gil both talked about the number of very large transactions, multi-year transactions that we're winning, that provide a much broader set of security technologies. That's what we're focused on. We have to continue to execute on all these fronts, not only the ones we've already announced and had in place, but additional ones that you'll see this quarter and going into next year, where there's a lot of things we're going to be doing to take advantage of our market position and where we are, and our relationship with our partners and our customers. It's a challenge, but it's a good market. We've got a good company with good technology and good people and we just need to execute accordingly.
Our next question comes from Sarah Friar - Goldman Sachs.
Q - Sarah Friar - Goldman Sachs
Just a bigger picture question around what sort of growth rate we could look at for Check Point. Obviously this year has been a changing year for you where you have had to regroup. You are talking about the new initiatives you are putting in place. It is still a decelerating year from a growth rate perspective. As you look at 2007, can you give us any sense for what you think is a more long term, stable growth rate that you can think about for the company?
A – Gil Shwed
First, this year I think we are running at a relatively stable rate compared to last year in terms of revenues, and we do see growth in EPS which I think is always positive. We are putting together right now all of our work plans for next year. It would be a little bit premature to put down both the new initiative or new strategic areas and the core business projections or how they come together. I hope that we'll be able to do more of that at the beginning of Q1 as we finalize those plans and we will be able to share more of them. Obviously we're doing everything we can to both improve execution, expand our leadership in our core market as well as invest in additional security markets that will make our unified security architecture broader into multiple segments.
Q - Sarah Friar - Goldman Sachs
Quickly, on COGs in the quarter, your cost of goods went up. Is that a facet of more appliances being sold, or was it the uptake in support and training? I guess the question is for next quarter, should we expect a similar level for gross margins or should we expect that to pick back up again?
A - Eyal Desheh
The level and the percentage wise, we could expect something similar. We have some (inaudible) solutions and we are beginning to see some more demand for that. That is the result of the small up tick that we had in cost of goods. Q4 is expected to be like this proportionately but probably it will be a little hard to predict the exact mix. It shouldn't make a substantial difference on the percentages.
Q - Sarah Friar - Goldman Sachs
Okay, so similar to what we saw in the third quarter?
A - Eyal Desheh
Our next question comes from Edward Maguire - Merrill Lynch.
Q - Edward Maguire - Merrill Lynch
A question on the US federal government business. Have you had previous EAL 4 certifications for the business? And could you talk about any plans to invest around the business to take advantage of or increase your sales to the US government?
A – Jerry Ungerman
Yes we have, and I think I've said this before, but our tipping of sectors is on a worldwide basis, not just the US government. The worldwide governments are very important. The certification is used all over the world. I think our two largest sectors are government and financial. We do have a very big team of not only our people, but also partners in Washington DC, that work with all the agencies, both civilian and defense. We're just excited about this, because like I said it's the first one to get all four different levels certified. We're even going for additional certifications beyond this that I think well positions us in all governments around the world to be the primary, premier, major supplier of the unified security architecture that uses different technologies incorporated in it. This is a big step for us in enhancing the certifications that we do have and have had, and we're going to go beyond that. This is going to be a very good sector for us on a worldwide basis.
Q - Edward Maguire - Merrill Lynch
Just a follow-up on investing in the business, you know, your head count is up. Could you talk about where you've been adding heads and where you hope to build out the organization over the next couple of quarters?
A - Eyal Desheh
Most of the people were added in R&D or in our sales. That's across the map in all geographies. We'll be hiring most of those people and we've talked about a plan to do this at the beginning of the year. We're executing and also in our services and support. We have a very nice increase in our service business and service revenues and we are hiring some people to make this happen. It's – in the business producing area, as you would call it, that's where most of these people were. Next year, I think we've said it a number of times on this call already, we're talking about next quarter and right now, and come the end of the year we'll talk about 2007.
Our next question comes from Christopher Hovis – Morgan, Keegan and Company.
Q - Christopher Hovis – Morgan, Keegan and Company
Nice quarter. A couple of quick questions – one, I think, Gil, you mentioned that you had multi year commitments for some of the unified security architecture wins. Can you talk to us about what that implies. Does it mean future product purchases or just technical support and subscriptions?
A – Gil Shwed
It's a combination between various levels, but we do have a strategic program in which the customer does a multi-year procurement agreement, and this agreement usually they get it every year. Of course, the subscription service is usually a service at a relatively high level. They also get every year additional products for their procurement, so most of these contracts are like this. Sometimes you will see the subscription and services portion – that depends on the deferred revenue, the products which are not in the deferred revenue, but are generally structured on such things.
Q - Christopher Hovis – Morgan, Keegan and Company
So future product does not show up on the balance sheet or income statement?
A – Gil Shwed
No, future product does not.
Q - Christopher Hovis – Morgan, Keegan and Company
Eyal, on operating cash flow, it was down YoverY. Can you talk about what's going on there?
A - Eyal Desheh
Yes. Nothing much. As you probably noticed, the end of the quarter happened to be on a weekend. We'll probably collect on what – or I've already collected some of what was missed immediately at the beginning of Q4. This is just in between quarters, nothing dramatic. The quarter wasn't more back end loaded than usual. It was even a little less back end loaded than usual. It's just some collection that moved from one quarter to the other because of the weekend it happened to be.
Our next question comes from Katherine Egbert – Jefferies and Company.
Q - Katherine Egbert – Jefferies and Company
Quick question on the OEM side, you didn't mention what percentage they were of business, so if you could do that? Then also, as you roll out some new initiatives, would you say that you were doing more through the OEM channels?
A – Gil Shwed
The OEM channel has not been a significant channel for us for many years. We do work with what you can call OEMs or what we call (compliance partners?) to supply joint solutions, usually through what we call a 'meeting the channel' model in which the channel buys the hardware, the client provider buys the software from Check Point and we sell very little to these companies directly. As a percentage, I don't remember what was the appliance percentage of our business. Eyal, do you have a sense?
A - Eyal Desheh
The ones we sold directly or the ones that…?
A – Gil Shwed
No, overall?
A - Eyal Desheh
Overall from product sales, about 70% of that is in conjunction with partners. Actually, we sell most of the software.
Our next question comes from Dino Diana – UBS Securities LLC.
Q - Dino Diana – UBS Securities LLC
You were able to reverse a prior negative trend in the first half of the year. It was total bookings, it was down 5% in the first half of the year and now it's up 6% in Q3. Part of that was just getting total revenues to stabilize, but the bigger part than deferred revenue, can you talk to us about what contribution was, say from SmartDefense and the changes you made in support? And what the other moving parts in that was?
A - Eyal Desheh
All our annuity based sales are moving into deferred revenues when they're booked and then they're being amortized over the period of the agreement, which is mostly one year. Very few are over (inaudible) in one year and what we have on the SmartDefense, we had a record quarter this quarter. Of course we're getting more business than we're recognizing because it's growing all the time. It always lags and there's more in deferred than we had recognized this quarter, but we're never breaking down these numbers precisely. So we're not going to start now.
Q - Dino Diana – UBS Securities LLC
Is it fair to say that SmartDefense was the bigger driver of the deferred revenue increase?
A - Eyal Desheh
I don't think so.
Q - Dino Diana – UBS Securities LLC
In terms of your long term operating margin model, when you look a few years out, some people would argue that mid-50% margins are hard to maintain. What is your overall view on what these should trend to longer term?
A - Eyal Desheh
First I would say we'll probably have a lot of the highest margins in our industry or maybe the highest, which is a result of our very efficient business model, very well-run business model. We know that a very high margin depends on the type of business model that we're running and could change with the mix of products. Right now it is reflective of the type of product and the mix of products that we sell. This could change, if that mix will change in the future.
Q - Dino Diana – UBS Securities LLC
Are you any more willing to give up operating margins to get revenue growth?
A - Eyal Desheh
It's not a trade off.
A – Gil Shwed
It's not a trade off, we will invest in whatever we think makes sense. The focus is on things that are increasing, things that generate more business and that will go for the top line and the bottom line. Luckily for us so far, in the softer business, things that grow top line also grow bottom line in a pretty nice way. We're not married to or don't have necessarily a target where we need to be X percent profitable. We are committed to running an efficient and effective business.
Our final question comes from Ehud Eisenstein – Oscar Gruss & Son.
Q - Ehud Eisenstein – Oscar Gruss & Son
Do you have any updates on the VP marketing position?
A – Gil Shwed
In general, I don't comment about internal affairs. That I think summarizes that.
A - Eyal Desheh
Thank you very much, everyone. We were happy to have you participate in our conference call. If you want to speak to management or investor relations following this call, please call our investor relations department at 650-628-6250 and we'll be happy to take your calls and call you back. Thank you very much and have a nice and a wonderful day.
Thank you. This does conclude today's Check Point Software conference call. You may now disconnect, and have a wonderful day.
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text:
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subset: commoncrawl


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Craig M. Favor
Master's Thesis submitted to the Faculty of the Virginia Tech in partial fulfillment of the requirements for the degree of
Master of Science
Civil Engineering
Thomas M. Murray, Chair
David E. Allen
Richard M. Barker
Raymond H. Plaut
April 11, 1997
Blacksburg, Virginia
Aerobics dance floors often produce annoying floor vibrations in adjacent parts of a building due to the rhythmic impact of the aerobicists. Various types of shock absorbing aerobics and dance floors are widely used to prevent injuries to the participants, but the floors may not prevent vibrations in adjacent areas of the building. The purpose of this investigation is to evaluate a temporary "floating" concrete aerobics floor designed to prevent the force and vibrations induced by rhythmic exercises from being transmitted to the existing building floor system.
The test floor is a concrete slab mounted on pressurized air springs. A series of tests was conducted to determine the vibration characteristics of the floor and the forces transferred to the supporting floor system. Experienced aerobicists compared the response of the "floating" floor to existing aerobics floors.
Based on the experimental results, vibration characteristics and a prediction of the force transmitted to the supporting floor by the "floating" floor system were determined. Recommendations are made in terms of the feasibility of the "floating" floor concept, additional testing to be performed, and possible applications.
List of attached files
File Name Size (Bytes) APP-A.PDF 93,652 Bytes APP-B.PDF 683,931 Bytes CH1.PDF 68,085 Bytes CH2.PDF 79,506 Bytes CH3.PDF 136,594 Bytes CH4.PDF 9,475 Bytes ETD.PDF 19,401 Bytes REFERNCE.PDF 9,322 Bytes VITA.PDF 4,439 Bytes
The author grants to Virginia Tech or its agents the right to archive and display their thesis or dissertation in whole or in part in the University Libraries in all forms of media, now or hereafter known. The author retains all proprietary rights, such as patent rights. The author also retains the right to use in future works (such as articles or books) all or part of this thesis or dissertation.
Send Suggestions or Comments to firstname.lastname@example.com


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Best Of :: Arts & Entertainment
Spin the FM dial and there's no shortage of reggae music to be heard. Commercial juggernaut WEDR-FM (99.1) gives time to the latest hits out of Kingston, a slew of local pirate stations pump out a steady diet of gruff dancehall, and Saturday afternoon's reggae showcase on WDNA-FM (88.9) usually opens with the sweetly skanking rhythms of ska. Amid all this competition, though, WLRN's overnight institution Clint O'Neil stands out for the very reason he's remained a beloved favorite of his listeners since he first hit the airwaves in 1979: He plays everything, from late-Sixties rock-steady classics through mid-Seventies roots tunes, right up to the latest records out of Jamaica. The one common denominator is that they're all songs O'Neil loves. And in a world of computer-generated playlists and corporate radio consultants, when even the pirate broadcasters often sound market-driven, that's no small feat. If he feels like spinning a solid half-hour of the Meditations' rippling melodies, that's just what he's going to do. Praise Jah, indeed.
Theatergoers found a lot of reasons to dislike Paul Tei this season. He played a cold-blooded child killer in New Theatre's Never the Sinner and a hot-blooded serial killer in GableStage's Popcorn. But he is so good at being bad that you can't really hold it against him. Tei is the kind of actor who looks at a role not only as an opportunity to perform but also as an opportunity to create a role. Consequently he can portray several different degenerates, and his performances never overlap. As Wayne, the gun-toting redneck in Popcorn, Tei kept us riveted to our seats -- appalled and laughing. As Richard Loeb, a wealthy young Chicago man who, along with his lover, kills a young boy on a Nietzsche-inspired whim, he was equally appalling. But Tei never let audiences simply dislike his characters. With his willingness to take risks and push the boundaries of character definition, he could make Ted Bundy funny. For example, in Never the Sinner, he dared to play this insolent, arrogant murderer as childlike and capricious -- clubbing a kid in the head one moment and going out for hot dogs the next. Tei's topnotch acting transformed these two good plays into excellent ones.
An actor's success in a dramatic role can fall into one of two categories: the ability to make the unbelievable believable, and the ability to make the believable unbelievably incredible. Bridget Connors managed to do both in her role as a young Jewish woman dying of a terminal illness. That's the believable part. Rachel's plight easily could have been a case study in Harold S. Kushner's book When Bad Things Happen to Good People. She expressed all the predictable emotions and asked all the right metaphysical questions. The not-so-believable part is the conversion experience she had, which was facilitated by her sister, a devout member of the Christian Science faith. Believable or unbelievable, Connors brought something magical to the role from the moment she stepped onstage. Her ability to be simultaneously earthy and ethereal left theatergoers feeling as though they were seeing a tragedy for the first time.
Let's give it up, finally, for the Big Dog, Joe Rose. The former Miami Dolphin wide receiver is as close to a Miami sports institution as we have at this time, at least since Dan Marino and Don Shula have retired. Hard to believe in a way. Rose hardly distinguished himself as an athlete. (His greatest claim to fame, which he'll gladly tell you about, is catching Marino's first touchdown pass.) But as a broadcaster Rose has developed into a welcome, humorous personality, the ex-jock with a soft spot for the underdog. In his appearances on WQAM, on WTVJ-TV (Channel 6), and hosting numerous charity roasts, Rose plays the doofus, willingly attracting abuse from his co-workers, especially his linemates on the First Team, WQAM's very listenable morning sports-talk show. Clearly, though, Rose is no idiot. Compared with other sports clowns, such as former Steeler QB Terry Bradshaw, we'll take the underdog every time.
With the closing of the Alliance Cinema on Lincoln Road, it looked as though this category would be consigned to the cultural graveyard. Conventional wisdom had it that nobody could withstand the gravitational pull of the multiplex. Besides that, it seemed as if an audience for art movies simply didn't exist in Miami -- or didn't exist in large-enough numbers to make financial ends meet. But that didn't deter Cesar Hernandez-Canton, Johnny Calderin, and Ray Garcia (also operators of the Absinthe House Cinematheque in Coral Gables). In January of this year they opened the 103-seat, nonprofit Mercury Theatre to high hopes if not huge crowds. Although the opening was a year later than planned, the delay actually may have worked in their favor. Their hopes of riding the entrepreneurial wave in Miami's Upper Eastside created by restaurateur Mark Soyka were enhanced by giving Soyka (the restaurant) a chance to develop a following, which it has. With Soyka (the man) as landlord, Hernandez-Canton, Calderin, and Garcia remade an old warehouse adjacent to the restaurant, featuring amenities such as tables and chairs in the lobby, twenty-foot ceilings, unusual concession delicacies, and gallery space. Soyka installed a fountain outside and added more tables and chairs. Voila! An oasis was born. Films are screened twice nightly during the week. Matinees are added on the weekends. Yes, the movies don't change all that frequently, but it sure beats the only attractions formerly available in the neighborhood: streetwalkers and strip clubs.
In 1988 Ramon Cernuda presided over an auction of paintings held at the Cuban Museum of Art and Culture. The works were created by Cuban artists who had not broken with the Castro regime. The new owner of Manuel Mendive's Pavo Real promptly stepped outside and set it ablaze in the presence of cheering protesters. (Twice the museum was severely damaged by bombs.) A year later the feds accused Cernuda of purchasing Cuban art in violation of the embargo; they raided his Brickell Avenue condo and confiscated 240 paintings. A federal judge angrily denounced the seizure and ordered the works returned. Today the backsides of those paintings display U.S. Treasury/Customs Service seals, the same ones used to label intercepted drugs. Who would have thought that eleven years later, Cernuda would be opening an art gallery specializing in Cuban art from the island, smack in the middle of Coral Gables. This past fall Cernuda Arte made its debut with an exhibition of Cuban originals by masters such as Amelia Pelaez, Wifredo Lam, and Carlos Enriquez. Currently the gallery represents six working artists. Two of them, Demi and Sinuhé Vega, are based in Miami. The others create in Cuba. They are Flora Fong, Juan Roberto Diago, Alfredo Sosabravo, and Rigoberto Pelaez. "We are very open about what we do," Cernuda says. Boy, have times changed.


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"For Colored Girls": Watch The Trailer, See The Film
My mind was silent, but my heart was racing as I watched the trailer for Tyler Perry's "For Colored Girls," a film based on Ntozake Shange's choreopoem For Colored Girls Who Have Considered Suicide When the Rainbow is Enuf. The trailer seems so powerful that I no longer have any doubt that Perry handled this acclaimed work with care. Oh why can't Nov. 5 be tomorrow so I can see this important film already? I'm going to read the original one more time to prepare myself. Will you see "For Colored Girls"?


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The modern house style is designed by Residential Attitudes. This Empire House is a part of the Perry Lakes Stadium Redevelopment in Perth, Australia. It's just talk all about how to maximize the space with an airy and clean interior. The...[Read More]
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text: Hi I reported a possible problem with snapshot 24/08/07...for cups, while I was waiting for a reply I downloaded 1.4 Beta and had similar error. I am withdrawing my question from your mailing list to ponder and will not seek to report it as a bug. I have decided to stick with Linux for the moment, for personal reasons. Yep I am impatient. cheerio ____________________________________________________________________________________ Sick of deleting your inbox? Yahoo!7 Mail has free unlimited storage. http://au.docs.yahoo.com/mail/unlimitedstorage.html


text:
- Home
- News
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- Opinion
- Obituaries
- Features
- Special Sections
- Classifieds
- Public Notices
The wait is nearly over for the much anticipated groundbreaking for the Ark Encounter project coming to Williamstown.
Ken Ham, president and CEO of Answers in Genesis, announced during a Feb. 27 live web conference that enough money had been raised for the Ark Encounter bond offering to allow the release of the funds to start construction of the Ark.
If you currently subscribe or have subscribed in the past to the Grant County News, then simply find your account number on your mailing label and enter it below.
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text:
Fivemiletown's Carroll looks to step out of famous brother's shadow
Once upon a time, a certain R Carroll was partly responsible for keeping Manchester United at the top of the English game. Now, almost a generation later, another R Carroll – Roy's younger brother Ricky – is charged with doing similar for Fivemiletown United.
It has been a promising beginning to the hot-shot striker's debut campaign at Valley Stadium, notching a total of seven goals in his first seven games.
This form has not been reflected by the team's overall standing, currently camped in the bottom half of Mid Ulster Intermediate A with two wins from four, but there is genuine hope that the return of a familiar face in the New Year could change all that.
Fivemiletown boss Davy McQuigg said: "We got Ricky from Lisbellaw United at the right time for us. We are missing Stevie Erskine till January – he broke his leg last season around April time after we foolishly let him play in the reserves when he was coming back from a knee injury.
"Stevie was our top scorer, and I've no doubt he'll strike up a great pairing with Ricky. "But at the minute, we are having to adapt to a new system with the one striker and the five in midfield, with two pushing up now and again to make it a 4-3-3."
Fivemiletown's additional summer recruits Johnny Turley (ex-Derrychara United), Johnny McMahon (ex-Caledon Rovers) and Ricky McLaughlin (ex-Orchard Farm) all make that transition a feasible possibility, and while the club may not be rocketing up the table just yet, they have more than held their own on a match-by-match basis.
For instance, their 3-1 defeat by high-fliers Tandragee Rovers wasn't as straightforward as it appeared, with Fivemiletown hanging at 2-1 until the final seconds.
Elsewhere, McQuigg's side have shown they can be formidable on the goal-scoring front when they find their form, as Lurgan United found out to their cost as Fivemiletown smashed seven without reply against them in the second round of the Marshall Cup.
The other cup competitions haven't favoured Fivemiletown so well, with them exiting the Mid Ulster Cup after a 3-2 defeat to Valley Rangers at the weekend, and getting put out of the Bob Radcliffe Cup following a 3-1 defeat by Dungannon Swifts Reserves.
The one competition they may well have a genuine hope in is the Marshall Cup, with Division 3 strugglers Santos providing their third round opposition.
McQuigg told The Park: "It looks an easy draw on paper, but I have never seen a match won on paper. Sometimes you're actually better getting a tougher draw, as the underdogs usually seem to rise to the occasion in a cup match.
"It would be great to get a proper run in one of the cups, and the Marshall Cup and Premier Cup are our best chances."
That theory will be put to test this weekend, when regular Intermediate A title challengers Camlough Rovers host Fivemiletown in the Premier Cup first round.
But despite McQuigg's desire to flourish in knockout competition, the priority, as with most managers, is progress in the league.
And for McQuigg, progress represents mid-table at the very least.
He added: "The talk is that six teams will go down at the end of this season, with the restructuring of the league, so we have to make sure that we aren't in that bottom six. I am confident that is a realistic target for this team."
Belfast Telegraph Digital


text:
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Dizzy Daisy Down-town was one of the first hostels to open in Krakow. In five years of our existence, we have provided 1000s of individuals from all over the planet a comfortable stay in our city, and hence the popularity and renowned name of Dizzy Daisy among tourists and backpackers.
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August 22, 2012
Mattsson's two lead 3-2 win for Minutewomen
SMITHFIELD, R.I. - The UMass women used three first-half goals, including two from sophomore Moa Mattsson , to post a 3-2 win over Bryant on Wednesday afternoon.
Following their first victory of 2012, the Minutewomen move to 1-1, while the Bulldogs fall to 1-1.
UMass opened the scoring in the 24th minute. Freshman Jen Coppola collected a pass from Jess Howe in the midfield at the top right corner of the 18-yard box and took a touch before driving a shot past Lauren Viverito for her first career goal.
Then in the 42nd minute, Mattsson brought the advantage to 2-0. After receiving a feed from sophomore Emily Benjamin, Mattsson fired a blast from 35 yards out that sailed into the top of the Bryant net.
The Bulldogs managed to pull back to within one, less than two minutes later. On a direct kick from the left side of the goal, Alex Bengston drove the ball off the post and in.
The Minutewomen countered with another tally from Mattsson, taking just 21 seconds to answer, going back up by two, 3-1. Collecting a through ball from sophomore Alyssa D'Arcy, she slipped past the Bulldogs back line and beat Vierito for her second of the contest.
Early in the second half, Bryant made it a one-goal game once again. Ari Goldberg converted on a penalty kick, knocking her shot off the crossbar and iin the 55th minute
For a second straight game, Minutewomen senior Stephanie Gordon posted a career-high in saves, finishing with 16 as the Bulldogs held a 28-12 shot advantage. Viverito made five stops for Bryant.


text:
National Police Week: Remember To Thanks Those In Blue
May 15-21 is set aside each year as National Police Week. All across the nation this week police officers and their families will remember and honor those who have fallen, making the ultimate sacrifice while serving and protecting us and so should we.
Often we take for granted what they do but did you know according to the National Law Enforcement Officers Memorial Fund --officer fatalities to date this year in the United States total 71, a 20 percent increase over last year. Deaths of officers by gunfire alone have seen a 57 percent increase compared to this time last year.


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About This Course
"In this course, you will learn the language of business: Accounting. Similar to a language class, you will learn to read and understand financial statements and what goes into making them. We will also examine the financial impact of business decisions from a biblical perceptive to help you prepare to be an effective Christian business leader."
Course Details
Code / Name: BUAC 241 – Principles of Accounting 1 (4 credits)
Description: A study of the fundamental accounting procedures using journals, ledgers, and financial statements to complete the accounting cycle. Emphasis is on the sole proprietorship form of business organization in both service and merchandising enterprises. Accounting concepts are examined for presentation of financial statements in accordance with generally accepted accounting principles.
Prerequisite(s): BUMG 112 and BUMI 161, or consent of the instructor
Required Text(s): Please use the online campus bookstore to locate required textbooks for the course. Make sure that you search using the correct course code and look for the course with the "OL" suffix in the drop-down list. (See Textbook Ordering Help.)


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Wildcats Post Seven Wins at Woodman Classic
Wildcats Post Seven Wins at Woodman Classic
April 13, 2013
Post-Meet Notes | Complete Results
WICHITA, Kan. – The Kansas State track and field team stayed close to home this week after a series of meets in Arizona and Texas recently as the Wildcats took on a number of regional teams at the K.T. Woodman Classic in Wichita. The Wildcats left Cessna Stadium with seven victories on a day that saw a number of fast times due to the high tailwinds during the competition to go with a handful of big throws and jumps in the field events.
All three of the wins on the men's side came in the field events as senior pole vaulter Cameron Savage continued his recent success. For the third meet in a row Savage improved on his best mark while at K-State clearing the bar at a height of 5.16 meters (16-11.00). That marks ties him for third place in school history as well. Sophomore Tommy Brady was close behind him in fifth place with a clearance of 4.71 meters (15-05.50).
Ryan Hershberger posted the first win of the day for the men in the shot put as he tallied a toss of 17.23 meters (56-06.50) as he was about a foot off of his best mark of the season.
Newcomer Jharyl Bowry had a big mark in the long jump to get a win for the Wildcats. The junior college national champion a year, Bowry had a leap of 7.61 meters (24-11.75) but the mark was not eligible for records at K-State as it was wind-aided with gusts of 5.0 meters per second at the time of his jump. It would have ranked as a season best mark and improve his standing on the all-time list at K-State.
The Wildcats dominated the men's long jump with freshmen Ifeanyi Otuonye and Tyris Jefferson finishing second and third behind Bowry, respectively. Both of their marks were wind-aided as well.
On the women's side the wins were more on the sprints side with the Wildcats winning both the 4x100 and 4x400 relays.
The group of Ashley Williams, Richelle Farley, Erica Twiss and Jasmine Gibbs combined to run 45.44 seconds in the 4x100 and win fairly handily with Missouri State finishing second in 46.08. K-State dominated the 4x400 as well winning by more than three seconds with Sonia Gaskin, Sarah Kolmer, Williams and Tia Gamble combining to run 3:47.63 in the windy conditions.
K-State's other win in the sprints came from Gaskin in the 400 meters. The mid-distance runner broke away from her usual 800 meters for individual races to run the 400 and posted a win in 54.21 seconds to rank in the top 10 in school history. Fellow freshman Gamble finished sixth in the 400 meters.
Redshirt freshman Dani Winters posted the other victory for the women as she had her best mark ever in the shot put. Winters won with a toss of 15.61 meters (51-02.75) to crush the field and win by nearly 10 feet. Her mark also ranks fifth in school history as it is an improvement of more than two feet.
The throwing events were an area where the Wildcats saw a lot of success on the weekend with Winters finishing fifth in the discus. She was joined by Jacquelyne Leffler in second and Jessica Carter in third. For the men Alex Roe finished fourth in the hammer throw, and Hershberger took third in the discus. Freshman Sara Savatovic took second in the women's hammer throw.
K-State also had some of its distance runners in action over the weekend with some competing Friday night under the lights to open the meet with sophomore Erika Schiller highlighting the performances with a new personal record in the 1,500 meters to finish sixth. Redshirt freshman Celsey Beneda had a PR as well in the women's javelin on Friday night.
The Wildcats will be spread across the country next week with some headed to the annual Kansas Relays in Lawrence while another larger group is headed to the West Coast for a series of meet. K-State will compete in the Mt. SAC Relays, Cal State L.A. Twilight Open and Long Beach Invitational.


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Frustrated teacher can't find work
by Renee Chandel — Maine
A woman I talked to was preoccupied with preparing to bring home a new cat, however, she gave me her whole attention when I told her I was fighting to keep good jobs from leaving Maine. She nodded as she looked over the issues we fight for, telling me that she's "in education." I asked her if she's a teacher, she told me she's been looking for work for over a year now. "I'll take anything," she said, "Secretary, retail, anything. I'm certified to teach Special Education." "That must be frustrating," I said, "To spend all that time and money studying in college and then not to have work available." She told me that her doctor told her she would never get through college, needing to have surgery every other week, but she did it, earned her degree in five years. She still has surgery every other week and she pays $400 per month for regular health care, which doesn't include dental, optical, etc.
Tags: Education, good jobs, Health Care


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Latest New International 'Prometheus' Trailer Shows Nearly Too Much
by Alex Billington
April 29, 2012
Source: YouTube
"Not a map, an invitation." I've hesitated numerous times posting this trailer, but here it is anyway. But my suggestion is - do not watch this trailer. Fox has released another extended three-minute trailer for Ridley Scott's Prometheus, his return to sci-fi that looks spectacular so far. While the other trailers revealed a few months back seemed to show a lot, this one proves that there's still many more secrets and twists yet to be seen, but that's exactly why this is showing too much. At this point, I don't want to see too much more footage that'll ruin it, instead I'd rather see the entire movie - and be blown away then. That said, have at it!
Watch the new extend UK trailer for Ridley Scott's Prometheus, from YouTube, if you want to:
We're trying not to figure out too much about this in advance, but they keep giving us big hints and teases of some very fascinating things, in both trailers. "If you don't stop it, there won't be any home to go back to!"
Prometheus is directed by legendary Oscar nominated filmmaker Ridley Scott, who started it all with Alien and Blade Runner, also directing Thelma & Louise, Gladiator, Black Hawk Down, Kingdom of Heaven, American Gangster, Body of Lies and Robin Hood most recently. The screenplay was originally written by Jon Spaihts (The Darkest Hour), then updated by Damon Lindelof of "Lost" and Cowboys & Aliens, Star Trek 2. Fox has Prometheus set to hit theaters in 3D starting June 8th this summer. Visit Weyland Corp.
Follow Alex's main profile on :


text: On 10.08.2008 11:21, Stefan Reinauer wrote: > Carl-Daniel Hailfinger wrote: >> On 04.08.2008 00:19, ron minnich wrote: >> >>> I like the change but please, NOBODY ack this until you test it on >>> something! this is a far-reaching change. >>> >> >> Indeed. Did you find time to test it? >> Inline and attached is the updated patch against svn HEAD for your >> convenience. >> >> Regards, >> Carl-Daniel >> >> The named unions in the device tree code are obnoxious and degrade >> readability. Move to anonymous unions. >> >> Build tested on all targets. Boot tested on qemu. >> >> Signed-off-by: Carl-Daniel Hailfinger >> <c-d.hailfinger.devel.2006 at gmx.net> > > Please prepare the same patch for v2, too. We should not have the > device tree code diverge too much before v3 actually becomes usable. Sure. But please spare me the task of running abuild for the v2 patch. I simply don't have enough CPU power for that. I have no idea whether ROMCC can handle anonymous unions, though, so there might be unwanted side effects. And older gcc versions which are usable with v2 might be broken by that change. And then there's the question of whether we want to commit Ron's v3 device tree/pci changes to v2 as well. While I think they were really great for v3 and I appreciate them, I'd like to be conservative regarding v2 changes. Thoughts? Still think the anonymous union stuff is v2 material? Regards, Carl-Daniel -- http://www.hailfinger.org/


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Academic Staff Representatives Council Meeting
November 16, 2006
The academic staff representatives met in
Growth Agenda: President Reilly is looking for support from community and business leaders but also from faculty and academic staff senates before this initiative goes to the legislature. He is apparently planning to visit a number of institutions and communities around the state asking for resolutions or letters in support of the growth agenda. Some faculty and academic staff senates have already passed such resolutions. My understanding of what was passed has been conditional on funding to support the new initiatives. No one is enthusiastic about doing even more with even less funding.
LAB Report: A committee has been formed to give UW System staff and the Board of Regents advice on how to respond to the report. Regent Tom Loftus will chair the committee. Regent Loftus was the architect of the sick leave conversion plan when it was passed by the state legislature. Dennis Shaw, (UW-Stout), will represent academic staff on the committee. Apparently the proposal for capping sick leave conversion is no longer in the report as it goes forward. The emphasis will be on better reporting of sick leave when it is used. UW System's formal response to the report is due in June.
Compensation/Pay Plan: The UW System recommendations for the pay plan will come to the Board of Regents at the December meeting. At the last BOR the Regents were told that faculty are 8.5% behind their peers, academic staff are 12 % and administrators are 16% behind. However, at today's meeting it was stated that academic staff are more like 23% behind their market comparison group, It was also somewhat confirmed that it is not an urban legend that APAS Hayes-Hill pay ranges are too low by one pay range (i.e. Grade 5 should really be paid as the Grade 6 pay range). Percentages that will be put forward may be between 4.2%-5.23% but this part is still in process.
Climate Study: There will be a system wide survey of everyone (not a sampling) of the climate on diversity throughout the system, including religious affiliation and social class. It will begin in Fall 2007 and end in Fall 2008. Afterwards each campus will receive its own report about itself and will receive aggregate data. This will be funded through cost sharing between the campuses and system.
Criminal Background Check: We were told that the UW System policy will go to the Regents at their December meeting for their approval but the individual campus implementation policies will not need to be in place until May 1, 2007.
Academic Staff Leadership Conference: UW Superior will host this on June 28-29, 2007. The theme is Growth: Personal, Professional and Economic. As soon as there is a website for the conference, I will forward it to all academic staff.
Regent Committee on Faculty and Academic Staff Disciplinary Process: Two concerns were raised. One question was whether the prior policies had been applied as intended, thus making a new UWS 7 and 11 unnecessary. The second was continuing concerns about the places where the phrase "charged with" still appears. Regent Spector said that after Board of Regents approval the policies will go to the Education Committee in the state legislature for comments and possible hearings. If there are no objection, the policies can be promulgated by publication. If there are objections, the polices will go to a joint legislative committee.
The next meeting will be a teleconference on December 16, 2007.
Judy Blackstone, Academic Staff Representative
Board of Regents meeting
November 9 and 10, 2006
At the Business, Finance and Audit Committee, UW System began presenting its rationale for pay plan increases for university employees. Regents were told that in comparison to salaries at peer institutions, faculty are 8.5% behind, academic staff are 12% behind and administrators are 16 % behind. Apparently there had been feedback that saying we needed to stay comparable to our peers wasn't persuasive as a reason for pay increases. What happened was a panel of speakers from various campuses talking about how low salaries impacted their ability to recruit and to retain quality faculty, staff and administrators. Among the points raised, they cited the cost of having to search multiple times for the same position if the original search did not yield qualified candidates, the frustration and cost of being turned down by a first, second, and third candidate choice because the money being offered was too low, and the difficulty of coming up with money for a counter offer when an employee is being wooed by another institution. One faculty department chair talked about our system almost being like a farm team, developing talent that is then hired away by others.
Regent Mark Bradley asked the speakers how they then do come up with money to meet outside offers or to offer a competitive salary for a new hire. He was told that IAS are hired at lower rates and that some positions are being held open to provide some flexibility.
The presentation we watched relied heavily on anecdotal and individual experiences/examples. The pay plan recommendations will be given to this committee at the December meeting.
Judy Blackstone, Academic Staff Representative


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This hotel is an interesting mix of old and new. Our room was located in the new, modern section of the hotel. Friends we were travelling with had a room in the older section and found it to be quite cold. I had problems with...More
Getting you more information on this room
Getting you more information on this room
"Take the one-bedroom apartment. We paid 200 euros for the night and it was worth every penny and more."
"If there are any rooms with windows looking out onto the Street and which give you natural light take them."


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Soldiers, veterans, Family members and others from across the tricommunity area came together to bid farewell to Armor School commandant and 48th Chief of Armor Brig. Gen. Leopoldo Quintas July 25 at Derby Auditorium.
Quintas arrived at Fort Benning in September 2013, and said the team at the Armor School has made numerous accomplishments since his arrival.
"I've been part of a fantastic team that has achieved a lot in the short time that I've been here," Quintas said. "In the area of doctrine, we've fundamentally rewritten the way that we fight and we've captured lessons learned from 13 years of war to make our doctrine relevant to the future, both in the near term and the long term. ... In organization, we've reorganized here at Fort Benning to provide better training and leader development. We've also proposed how to reorganize parts of the Army to be a better warfighting organization.
"In the area of training, we continue to pursue mastery of the skills that we're responsible for, and we've come a long way in providing that to the Army. In the area of materiel, in an era of decreasing resources and an Army that's getting smaller, we've helped to set the priorities for those things that are most important to the Army as we look at future warfare. In leader development, we've come a long way in outlining the appropriate career path and managing personnel so that those individual Soldiers, NCOs and officers are best developed as individuals and best developed for the Army."
Maj. Gen. Scott Miller, the Maneuver Center of Excellence commanding general, spoke during the ceremony, and said the MCoE will miss the entire Quintas Family.
"One of the things you don't necessarily like to do is to say farewell to somebody, particularly somebody whose contribution, from a Family perspective and an individual perspective, to the MCoE, Fort Benning and the outside community is so substantial that you know as this individual departs, there's going to be a break in continuity in what this individual provides," Miller said.
Miller said Quintas has been an exceptional asset to Fort Benning, not just to the Armor School, but the entire MCoE.
"Even though (Quintas) is the armor commandant, he's a general officer at the MCoE, and he's focused on preparing our Army, bettering our forces for the battles our nation must face and protecting and defense of the Constitution of the United States of America," Miller said. "If he didn't tell me he was an Armor officer, I wouldn't know. I wouldn't know because I think he cares as much about an Infantry squad as he does a tank crew or a Field Artillery unit. ... For that, I give Lee the maximum thanks."
Quintas departs Fort Benning to serve as the deputy commanding general of 1st Armored Division at Fort Bliss, Texas.
"We're really going to miss being at Fort Benning with this fantastic local community, but we are looking forward to moving back to a division that has an outstanding reputation as an organization," Quintas said. "I'm looking forward to getting back to troops who are preparing to deploy and taking what I've learned here and putting it to best use to help leaders and Soldiers accomplish their mission."
Brig. Gen. Dennis McKean, now the deputy commanding general of 1st Armored Division at Fort Bliss, has been selected to serve as the next Armor School commandant and chief of Armor.
Quintas said McKean is a great choice to lead the Armor School as the Army faces future challenges.
"The Army is in a transitional period - there are decreasing resources available to our organization, so we're facing some very hard decisions, whether it's in terms of how we're going to organize, how we're going to equip or how we're going to train," Quintas said. "Those decisions will be made in the next year and will have a significant impact on the next fight we may find m ourselves in. So, as I talk to Brig. Gen. McKean, a great officer and exactly the right person to be coming in as the commandant of the Armor School, I think those are some of the challenges he'll face.
"He's in for a great ride as a fellow Cavalryman. I hope he enjoys the experience and gets to know the local leadership and the citizens here and around Fort Benning. (I hope) he trusts the current leadership that has been at this mission for a while and he'll apply his experiences, which are many and relevant, to continue to evolve the MCoE."


text:
Need Appliance Repair Help? Ask a Technician for Answers ASAP
Thanks for the question.
Open the door can you hear the click from the door switch
Pull the dryer out and check this thermal fuse, unplug the dryer and join the two wires together if it starts up replace the thermal fuse. tape the wires so they cant touch anything first,
This is it here , pull the plug and check this fuse, you can join the wires together to try it, tape the wires fist before you try it if it starts replace the fuse.
Take the console panel off and check this start switch it should make contact when you push the start button.


text:
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text:
Photos: Scratch Burrito & Happy Tap opens today in Berkeley
All photos by Lori Midson.
Earlier today, just minutes before Scratch Burrito & Happy Tap opened in Berkeley, exec chef-owner Clay Markwell was peering over his kitchen crew, advising them how to wrap, roll and twist the corners on the aluminum foil that hug the bulging burritos emerging from the kitchen. By noon, an hour after Scratch opened, there was a line of hungry curiosity seekers jonesing for those burritos, all of which, says Markwell, who used to cook at TAG, "map back to different cultures and cuisines."
See also: - Clay Markwell opening Scratch Burrito & Happy Tap in the former Shazz space - Benny Kaplan, former chef of Shazz Cafe, opening Wafflich on Tennyson Street - Denver's five best breakfast burritos
There are eight burritos total, all priced at $9.50, and the ingredients -- many of them procured from nearby farms and producers -- zigzag from adobo pork and grilled vegetable quinoa salad to tandoori lamb swaddled with curried brown rice, dill pickle salad, raita with cilantro and crisped onions; they're all partnered with a seasonal side salad, the ingredients of which may come from Golden Acre Farm, located in Golden and owned by Jason Plotkin, who plans to stop by the restaurant every Saturday after the farmers' market.
"He's a great guy and his produce his awesome, so he's going to be dropping off whatever he has -- anything and everything -- and that will give us a chance to play around in the kitchen," says Markwell, whose staff includes Vicki Roopai, who also cooks at Hapa; Tim Rohr, the former kitchen manager at TAG; and Joe Stone, most recently the chef de cuisine at Ernie's Bar & Pizza. "I've got a great crew -- we're all industry people -- and we just want to have fun and deliver scratch-made food to your mouth," he adds.
The menu, which also pimps housemade empanadas and salads, is reinforced by a strong beer and cocktail list, courtesy of Tyler Lewis, who also came to Scratch from TAG. His cocktails, which number eleven, are all $7 -- and you can also buy pitchers of them for $30 each -- a move that should be a big hit with imbibers. "I wanted to make the cocktail list really approachable but still push the envelope a bit, and I think they're really well-priced, especially since we're using a lot of small-batch Colorado spirits, making our own syrups, squeezing our own juices and pretty much doing everything in house -- and I love the idea of hanging out on the patio with a pitcher of cocktails," says Lewis.
The space, bedecked with a hackberry wood community table in the bar, acid-washed concrete floors, intricate metal work, canning jars vased with cacti, an open kitchen and chalkboard menus, is a vast improvement from its earlier days as Shazz Cafe, and the patio, strewn with picnic tables, is bound to see its share of lingerers, who can also play a game of bags in the parking lot.
Scratch is open Tuesday through Friday for lunch and dinner; Saturday for breakfast, lunch and dinner; and on Sunday, breakfast is available until 11:30 a.m., and lunch until 3 p.m.
Here's a sneak peek of the space, the cocktails and the burritos...
All photos by Lori Midson.
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Colors Cold Spring Harbor
Dear Fellow Curlies,
Has anyone been to Joy for a haircut at Colors? I received a gift certificate in the mail.
I see a few good reviews posted.
Please let me know what you think.
i'm bumping this thread as i'd like more input on joy's cuts -- how long do they last, what type of curl do you have, have you gone back for 2nd, 3rd, etc.... cuts?
scorpiocurls, did you ever go? what did you think?
(i love my stylist but unless i win lotto i most likely will have to find someone less expensive.)
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Mr. BARTON of Texas. Mr. Speaker, Taiwan President Ma Ying-jeou will be inaugurated for the second and final time on Sunday, May 20th. In addition to its continued democratic development, Taiwan has undergone numerous unprecedented economic, travel and tourism changes--between itself and mainland China--since President Ma first took office four years ago.
In July 2008, just over two months after taking office, President Ma launched the first regularized direct flights across the Taiwan Strait since the end of the Chinese Civil War in 1949. Such flights now number 558 per week, having greatly eased the burdens of Taiwanese living and working in mainland China. It's also made life much easier for American tourists and businesspeople crossing the Strait instead of having to change planes in Hong Kong, or another third party port, as they once did.
And in 2010, Taiwan enacted its Economic and Cooperation Framework Agreement (ECFA) with mainland China that zeroed out tariffs on a number of Taiwan exports to the mainland. Further ECFA liberalizations will follow. ECFA's allowed Taiwan companies to tap mainland consumer markets while allowing them to stay in Taiwan and trade from their own home base. ECFA's further offered Taiwanese greater consumer choice at more affordable prices, while additionally uncovering opportunities for U.S. companies that have operations on both sides of the Taiwan Strait. It's thus no wonder the American Chamber of Commerce in Taipei has, after years of calling for such changes, wholeheartedly applauded President Ma's economic openings. Slowly but surely, Taiwan's steadily reinserting itself into the global economic supply chain, strongly making its case for a resumption of Trade and Investment Framework Agreement talks with the United States.
The influx of mainland Chinese tourists to Taiwan, allowed since 2008, has boosted the island's economy while also exposing mainlanders to Taiwan's free society and vibrant democracy. This fact was most notable during Taiwan's January 14th presidential and legislative elections won by President Ma and his Kuomintang (KMT) Chinese party. Visiting mainlanders were mesmerized by Taiwan's televised debates and dueling public events, and their some of their cohorts back home even took to blogging about it. Last year, 1.8 million mainland Chinese tourists visited Taiwan. That's 30% of all 6.08 million tourists who visited Taiwan in 2011.
On this, his second inauguration, I ask my colleagues to not only congratulate President Ma on his inauguration, but also on his openings to mainland China that have not just benefited Taiwan companies and consumers, but also U.S. economic interests and enterprises in the region.
Source: http://thomas.loc.gov


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On Fri, Nov 12, 2010 at 2:25 PM, Frederic Breitwieser
<frederic at woodbridgedata dot com> wrote:
> I'm curious if any of you might have successfully connected on of these
> newer Android phones to m0n0wall via the ptpp VPN.
> We have many internal applications that are used and granting access by VPN
> to these devices would open a whole new world for us.
> Particularly, the Sprint Epic 4G (Samsung) device.
> I've tried the built-in VPN client of the EPIC however it doesn't connect.
> Windows and Linux desktops connect just dandy from anywhere so I'm guessing
> it might be the built-in VPN client?
I believe it may vary depending on the Android version. I have an
iPhone personally which works no problem, but I know there are some
Android compatibility issues noted here that are the same on all
m0n0wall versions.
Pretty sure that is not consistent across all Android versions,
explaining Neil's experience.