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CAMBRIDGE, England, April 24 /PRNewswire-FirstCall/ — Autonomy’s first quarter conference call will be available live at on April 24, 2008, at 9:30 a.m. BST/4:30 a.m. EDT/1:30 a.m. PDT.
Autonomy Corporation plc , a global leader in infrastructure software, today reported financial results for the first quarter ended March 31, 2008.
Financial Highlights

Three Months
Ended
(unaudited)
March March
31, 31,
2008 2007
Results in US$ ($’000s except per share) $’000 $’000

105,088 65,475
Revenues
Gross profit 93,464 60,010
(adjusted)*
Gross profit margin 89% 92%
(adjusted)*
Profit from operations 31,069 18,539
(adjusted)*
Profit before tax 31,136 19,518
(adjusted)*
Net profit 21,684 13,340
(adjusted)*.

Gross profit 88,184 58,110
(IFRS)
Gross profit margin 84% 89%
(IFRS)
Profit from operations 24,236 15,450
(IFRS)
Profit before tax 23,613 16,080
(IFRS)
Net profit 16,445 10,990
(IFRS).

EPS
- basic $ 0.10 $ 0.07
(adjusted)*.
- diluted $ 0.10 $ 0.07
(adjusted)*

- basic $ 0.08 $ 0.06
(IFRS)
- diluted $ 0.08 $ 0.06
(IFRS)

———–

* Adjusted results exclude the share of loss of associates, post-acquisition restructuring costs and non-cash charges, namely the amortization of purchased intangibles, share-based compensation and non-cash translational foreign exchange gains and losses and associated tax effects. See reconciliations on page 5.
First Quarter 2008 Highlights

- Record revenues, up 61% from Q1 2007 including strong
organic growth and contribution from acquisitions

- 20th consecutive quarter of year-on-year growth

- Organic IDOL growth of 16% from Q1 2007

- Licence revenue up 21% from Q1 2007

- Profit before tax (IFRS) up 47% from Q1 2007 to $23.6
million

- Net profit (IFRS) up 50% from Q1 2007 to $16.4 million

- Operational gearing sees operating margins (adjusted) at
30%, from 28% in Q1 2007

- Average selling price for meaning-based computing at
$380,000 (Q1 2007: $385,000)

- 12 OEM deals signed including new deals and extensions with
Oracle, Symantec, Tumbleweed and Openwave

- Gross margins (adjusted) at 89%, up from 88% in Q4 2007

- Fully-diluted EPS (adjusted) up 43% from Q1 2007

- Blue chip first quarter wins include MetLife, JC Penney,
Reuters, Dow Jones, Costco, Wolters Kluwer, Fortis Investments,
Michelin, Danske Bank, T Rowe Price, Barclays Capital, Johnson
Controls, Connecting for Health, Allstate, Pepsi, JP Morgan Chase and
Dupont

- Positive cashflow generated from operations of $25.1
million, up from $20.0 million in Q1 2007

- Cash balance of $95.5 million at quarter end and no net debt

Commenting on the results, Dr. Mike Lynch, Group CEO of Autonomy said today: “We are witnessing continued strength as the momentum of the unstructured information revolution continues. Recent analyst reports acknowledge this development, placing Autonomy in the number one slot across a range of seemingly distinct software sectors, which are all united by the value of Autonomy’s ability to understand meaning.”
Dr. Lynch continued: “Q1 unfolded as expected with its usual seasonality. At the same time various sectors shifted spending from general IT to regulatory and litigation-related purchases, making the direct effect of the sub-prime crisis a net positive for our business. Our regulatory, compliance and government-driven prospects, which account for the significant majority of our revenues, are proving robust.”
Dr. Lynch concluded, “We have decided to maintain our conservative view on prospects, which we will review if, as expected, current strength continues. While the current economic conditions bring a degree of uncertainty to businesses, we have seen no negative changes from the model outlined at the beginning of 2008. We will continue to monitor the situation closely as the year unfolds, although currently our strong fundamental market dynamics suggest that we have good reason to be confident in the current outlook for the business.”
First Quarter Financial Highlights
Revenues for the first quarter of 2008 totalled $105.1 million, up 61% from $65.5 million for the first quarter of 2007 driven by strong organic growth and the contribution from ZANTAZ. In the first quarter of 2008, Americas revenues of $63.9 million represented 61% of total revenues and Rest of World revenues of $41.2 million represented 39% of total revenues (see note 2). The quarter demonstrated its traditional seasonal effects in revenue, profitability and deferred revenue movements.
Gross profits (adjusted) for the first quarter of 2008 were $93.5 million, up 56% from $60.0 million in the first quarter of 2007. Gross margins (adjusted) were 89% in the first quarter of 2008, versus 92% in the first quarter of 2007. Gross profits (IFRS) for the first quarter of 2008 were $88.2 million, up 52% from $58.1 million in the first quarter of 2007. Gross margins (IFRS) for the first quarter of 2008 were 84%, compared to 89% in the first quarter of 2007. Gross margins decreased in the third quarter of 2007 following the acquisition of ZANTAZ in July 2007, but have increased as planned in each subsequent quarter as a result of the integration of ZANTAZ and the transition of the core ZANTAZ business to higher margin sales.
Net profit (adjusted) for the first quarter of 2008 was $21.7 million, or $0.10 per diluted share, compared to net profit (adjusted) of $13.3 million, or $0.07 per diluted share, for the first quarter of 2007. Net profit (IFRS) for the first quarter of 2008 was $16.4 million, or $0.08 per diluted share, compared to net profit (IFRS) of $11.0 million, or $0.06 per diluted share, for the first quarter of 2007.
Cash balances were $95.5 million at March 31, 2008, an increase of $2.9 million from the prior quarter. Movements in cash flow during the quarter reflect a combination of strong cash generation from operating activities and proceeds from exercise of share options, offset by the quarterly repayment of Autonomy’s bank loan and instalment tax payments. Although the company noticed some customers delay payments until immediately after quarter end, in light of recent receipts cash collection continues to be strong. Autonomy has no net debt.
Receivables at March 31, 2008, were $111.8 million, compared to $110.5 million for the prior quarter. Accounts receivable days sales outstanding were 91 days at March 31, 2008, compared to 83 days at December 31, 2007. Deferred revenues were $93.6 million at March 31, 2008, compared with $97.9 million at December 31, 2007, including normal seasonality.
Although IFRS disclosure provides investors and management with an overall view of Autonomy’s financial performance, Autonomy believes that it is important for investors to also understand the performance of Autonomy’s fundamental business without giving effect to certain specific, non-recurring and non-cash charges. Consequently, the non-IFRS (adjusted) results exclude share of loss of associates, post-acquisition restructuring costs and non-cash charges for the amortization of purchased intangibles, share-based compensation, foreign exchange gains and losses and associated tax effects. Management uses the adjusted results to assess the financial performance of Autonomy’s operational business activities.
Q1 Product Sales
Autonomy’s infrastructure technology continued to be adopted by enterprises around the globe to process information across all internal and external data formats and sources, in virtually every vertical market. During the first quarter of 2008, major customer wins included: Costco, Allstate, Wolters Kluwer, Dow Jones, Fortis Investments, HBO, Michelin, Danske Bank, Logitech, MetLife, JP Morgan Chase, Jane’s, JC Penney, T.Rowe Price, Barclays Capital, ABB, Dupont, TNT, Ernst & Young, Statoil, Pepsi, Mazda, Ameriprise and Linklaters. Q1 2008 business also included new and repeat licenses with multiple government, defence and intelligence agencies around the globe such as the US Army, US Marines, US DOJ, UK Land Registry, UK Home Office and the Northern Ireland Police, and in countries as diverse as the Netherlands, Singapore, Hungary, Germany, Spain, Mexico, Canada and South Africa. Repeat business from existing customers accounted for approximately 45% of revenue for the quarter.
Strategic Partnerships and OEMs
Autonomy’s OEM Program continued to grow during Q1 2008. Agreements were signed with 12 customers during the quarter, including new and extended agreements with Oracle, Symantec, Tumbleweed, Filetech and Openwave.
Q1 Corporate Developments
During the first quarter of 2008 Autonomy continued to extend its market leadership with the introduction of key new and upgraded technologies, including:
- New advanced features for Autonomy’s IDOL Pan-Enterprise Search
platform - the first unified platform to transcend all file types,
operating systems, and language barriers for business and legal
search - such as Drag and Drop Personalization; IDOL Deep Video
Indexing Advanced Features; Geo-Cluster Maps; Intent-Based Ranking;
Interlinking; Multi-Dimensional Index & Query Throttling; and
Quantum Clustering.

- The industry’s first electronic discovery of VMware virtual
environments, extending Autonomy ZANTAZ’s lead in discovering over
1,000 types of electronically stored information.

- Compliance with the newly-released EDRM XML standards for electronic
discovery, supporting interoperability and faster, more efficient
e-discovery.

- Autonomy etalk’s Qfiniti Web Access, an enhanced secure and robust
thin-client user interface for accessing the etalk Intelligent Contact
Center solutions suite, eliminating time-consuming installation and
extending customer service compliance and quality management to
globally distributed offices and external business partners in the
most cost-effective manner.

During the first quarter Autonomy was recognized in multiple ways for its
market leadership and unmatched technology, including:

- Dr Mike Lynch, Autonomy’s founder and CEO, being named the winner of
the highly coveted Innovator of the Year award for pioneering new
approaches to search and information processing technology at The
European business Leaders Awards 2008.

- Being named leader in the February 2008 Forrester Wave(TM): Message
Archiving Hosted Services, Q1 2008 report, wherein “[Forrester] found
that Autonomy ZANTAZ leads the pack with strong search functionality
and vision for its services.”

- Being named a leader in the February 2008 Forrester Wave(TM): Message
Archiving Software, Q1 2008 report, and thus the only leader in both
of Forrester’s two main reports on the sector.

- Autonomy etalk’s Qfiniti Enterprise receiving a 2007 Product of the
Year Award from Technology Marketing Corporation (TMC) Customer
Interaction Solutions magazine.

- Being selected as one of the “100 Companies that Matter in Knowledge
Management” by KMWorld, a leading industry publication, for the eighth
consecutive year.

- Recognition from Ovum, the independent analyst and consulting company,
as the leader in the enterprise information access market, ranked by
its market position and breadth of functional scope and
appropriateness for the enterprise.

About Autonomy Corporation plc

Autonomy Corporation plc is a global leader in infrastructure software for the enterprise and is spearheading the meaning-based computing movement. Autonomy’s technology forms a conceptual and contextual understanding of any piece of electronic data including unstructured information, be it text, email, voice or video. Autonomy’s software powers the full spectrum of mission-critical enterprise applications including information access technology, BI, CRM, KM, call center solutions, rich media management, information risk management solutions and security applications, and is recognized by industry analysts as the clear leader in enterprise search.
Autonomy’s customer base comprises of more than 17,000 global companies and organizations including: 3, ABN AMRO, AOL, BAE Systems, BBC, Bloomberg, Boeing, Citigroup, Coca Cola, Daimler Chrysler, Deutsche Bank, Ericsson, Ford, GlaxoSmithKline, Lloyds TSB, NASA, Nestle, the New York Stock Exchange, Reuters, Shell, T-Mobile, the U.S. Department of Energy, the U.S. Department of Homeland Security and the U.S. Securities and Exchange Commission. Autonomy also has over 350 OEM partners and more than 400 VARs and Integrators, numbering among them leading companies such as BEA, business Objects, Citrix, EDS, IBM Global Services, Novell, Satyam, Sybase, Symantec, TIBCO, Vignette and Wipro. The company has offices worldwide.
The Autonomy Group includes: ZANTAZ, the leader in the archiving, e-Discovery and Proactive Information Risk Management (IRM) markets; Cardiff, a leading provider of Intelligent Document solutions; etalk, award-winning provider of enterprise-class contact center products, Virage, a visionary in rich media management and security and surveillance technology and Meridio, a leading provider of records management software.
Autonomy and the Autonomy logo are registered trademarks or trademarks of Autonomy Corporation plc. All other trademarks are the property of their respective owners.
AUTONOMY CORPORATION plc

CONSOLIDATED INCOME STATEMENTS

(in thousands, except per share amounts)

Three Months
Ended
(unaudited)
March March
31, 2008 31, 2007
$’000 $’000
Revenues (see note
2) 105,088 65,475
Cost of revenues (excl.
amortisation) (11,624) (5,465)
Amortization of purchased
intangibles (5,280) (1,900)
Total cost of
revenues (16,904) (7,365)
Gross
profit 88,184 58,110
Operating expenses:
Research and
development (19,788) (13,606)
Sales and
marketing (33,043) (22,562)
General and administrative
(11,145) (6,080)
Other
costs
Post-acquisition restructuring
costs (300) -
Profit (loss) on foreign
exchange 328 (412)
Total operating
expenses (63,948) (42,660)
Profit from
operations 24,236 15,450
Share of loss of
associate (690) (349)
Interest
receivable 723 1,503
Interest
payable (656) (524)
Profit before income
taxes 23,613 16,080
Income taxes (see note
3) (7,168) (5,090)
Net
profit 16,445 10,990
Basic earnings per
share $ 0.08 $ 0.06
Diluted earnings per share
$ 0.08 $ 0.06
Weighted average number of ordinary shares
outstanding 213,431 188,866
Weighted average number of ordinary
shares outstanding, assuming dilution 217,541 191,986

Reconciliation of Adjusted Financial Measures

$’000 $’000
Gross profit
……………………………………… 88,184 58,110
Amortization of purchased
intangibles……………………………. 5,280 1,900
Gross profit
(adjusted)…………………………….. 93,464 60,010

Profit before income
taxes……………….. ……………… 23,613 16,080
(Profit) loss on foreign
exchange………………………………. (328) 412
Amortization of purchased
intangibles……………………………. 5,280 1,900
Share of loss of
associate……………………………… 690 349
Share-based compensation (see note
4)………………….. ………… 1,581 777
Post-acquisition restructuring
costs………………………………….. 300 -
Profit before tax
(adjusted)…………………………….. 31,136 19,518
Provision for income
taxes…………………………………. (9,452) (6,178)
Net profit
(adjusted)…………….. …………….. 21,684 13,340

Profit from
operations…………………………….. 24,236 15,450
(Profit) loss on foreign
exchange………………………………. (328) 412
Amortization of purchased
intangibles……………………………. 5,280 1,900
Share-based compensation (see note
4)……………………………….. 1,581 777
Post-acquisition restructuring
costs…………………………………. 300 -
Profit from operations
(adjusted)……………. ……………. 31,069 18,539

AUTONOMY CORPORATION plc

CONSOLIDATED BALANCE SHEETS

(in thousands, except share data)

As at
(unaudited)
March 31, December
2008 31, 2007
$’000 $’000
ASSETS
Non-current assets:

Goodwill………………………………… 821,700 820,147
Other intangible
assets…………………………………. 110,950 113,956
Property and equipment,
net……………………………………. 28,935 28,788
Equity and other
investments
……………………………………….. 13,390 20,010
Deferred tax
asset………………………………….. 8,112 8,862
Total non-current
assets…………………………………. 983,087 991,763
Current assets:
Trade receivables,
net…………………….. ……………. 111,771 110,468
Other
receivables…………………………….. 22,694 21,019
Total trade and other
receivables…………………………….. 134,465 131,487

Inventory….. 514 583
Cash and cash
equivalents……………………………… 95,486 92,571
Total current
assets………………………………….. 230,465 224,641
TOTAL
ASSETS…………………. …………….. 1,213,552 1,216,404

CURRENT LIABILITIES
Trade
payables……………………………….. (12,676) (11,595)
Other
payables……………………………….. (19,492) (29,374)
Total trade and other
payables……………………………….. (32,168) (40,969)
Bank
loan…………………………………… (10,637) (10,638)
Tax
liabilities……………………………… (12,917) (20,118)
Deferred
revenue………………………………… (80,213) (77,491)

Provisions…………….. …………….. (995) (1,099)
Total current
liabilities…………………………….. (136,930) (150,315)
Net current
assets…………………………………… 93,535 74,326

NON-CURRENT LIABILITIES
Bank
loan………………………………….. (34,572) (37,231)
Deferred
revenue………………………………… (13,351) (20,389)
Other
payables……………………………….. (11,107) (9,899)

Provisions………………………………… (109) (257)
Total non-current
liabilities…………………………….. (59,139) (67,776)
Total
liabilities…………………………….. (196,069) (218,091)
NET
ASSETS…………………………………..1,017,483 998,313

Shareholders’ equity:
Ordinary shares
(1)……………………………………….. 1,201 1,196
Share premium
account…………………………………. 785,444 780,888
Capital redemption
reserve…………………………………….. 135 135
Own
shares………………………………….. (943) (981)
Merger
reserve………………… …………….. 27,589 27,589
Stock compensation
reserve………………….. …………… 10,981 9,438
Revaluation
reserve………………………………… 3,566 10,163
Translation
reserve………………….. …………… 25,101 23,801
Retained
earnings……………………………….. 164,409 146,084
TOTAL
EQUITY…………………………………. 1,017,483 998,313

————

(1) At March 31, 2008, 600,000,000 ordinary shares of nominal value 1/3 pence each authorized, 213,754,957 issued and outstanding; as of December 31, 2007, 600,000,000 ordinary shares of nominal value 1/3 pence each authorized, 213,066,320 issued and outstanding.
AUTONOMY CORPORATION plc

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Three Months
Ended
(unaudited)
March March
31, 2008 31,
2007
$’000 $’000
Cash flows from operating activities:
Profit from
operations………………………………. 24,236 15,450
Adjustments for:
Depreciation and
amortization……………… …………… 9,696 3,217
Share based
compensation…………….. …………….. 1,581 777
Foreign currency
movements………………………………….. (328) 412
Operating cash flows before movements in working
capital………………………………… 35,185 19,856
Changes in operating assets and liabilities
(net of impact of acquisitions):
Receivables…………………………… (3,021) 5,656

Inventories…………………………………. 69 249

Payables…………………………………. (7,120) (5,727)
Cash generated by
operations………………………………. 25,113 20,034
Income taxes (paid)
received……………………………….. (11,454) 23
Net cash provided by operating
activities………………………… 13,659 20,057

Cash flows from investment activities:
Interest
received……………………. 723 1,503
Purchase of property, plant and
equipment………………………………… (3,838) (1,005)
Purchase of
investments……………………………… (650) -
Expenditure on product
development……………………………… (3,015) (858)
Acquisition of subsidiaries, net of cash
acquired………………………………… (5,422) (1,657)
Net cash used in investing
activities………………………………..(12,202) (2,017)

Cash flows from financing activities:
Proceeds from issuance of shares, net of issuance
costs……………………………. 4,434 10,491
Interest on bank
loan…………………………………….. (656) (524)
Repayment of bank
loan…………………………………….. (2,675) (4,083)
Net cash provided by financing
activities………………………………. 1,103 5,884

Net increase in cash and cash
equivalents……………………………… 2,560 23,924
Beginning cash and cash
equivalents………………………………. 92,571 121,059
Effect of foreign exchange on cash and cash
equivalents……………….. 355 69
Ending cash and cash
equivalents………………. ……………. 95,486 145,052

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

(in thousands)

Capital
Ordinary Share redemption Own Merger
shares premium reserve shares reserve Sub-total
$’000 $’000 $’000 $’000 $’000 $’000
At 1 January
2008………….. 1,196 780,888 135 (981) 27,589 808,827
Retained
profit……………. - - - - - -

Stock
compensation…….. - - - - - -
Share options exercised 5 4,556 - - - 4,561
EBT options exercised.. - - - 38 - 38
Deferred tax on stock
options - - - - - -
Revaluation of
equity investment…. - - - - - -
Translation of
overseas operations - - - - - -
At 31 March
2008…. 1,201 785,444 135 (943) 27,589 813,426

Sub-total Stock Revaluation
comp’n Translation Retained
Forwarded reserve reserve reserve earnings Total
$’000 $’000 $’000 $’000 $’000 $’000
At 1 January 808,827 9,438 10,163 23,801 146,084 998,313

2008
Retained - - - - 16,445 16,445
profit………………………………
Stock
compensation - 1,581 - - - 1,581
Share options
exercised… 4,561 - - - 4,561
EBT options
exercised .. 38 (38) - - - -
Deferred tax
on stock options…. - - - - 1,880 1,880
Revaluation
of equity
investment…. - - (6,597) - - (6,597)
Translation of
overseas
operations - - - 1,300 - 1,300
At 31 March 813,426 10,981 3,566 25,101 164,409 1,017,483
2008

AUTONOMY CORPORATION plc
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - UNAUDITED
1. Basis of presentation

The accompanying quarterly consolidated financial statements of Autonomy Corporation plc have been prepared in conformity with the recognition and measurement criteria of International Financial Reporting Standards (”IFRS”) as adopted by the EU. The accounting policies applied are consistent in all material respects with those applied in the Company’s Annual Report for the year ended December 31, 2007. Whilst the financial information included in this quarterly announcement has been computed in accordance with International Financial Reporting Standards (IFRSs) and IAS 34 Interim financial reporting, this announcement does not itself contain all of the disclosures required by IFRSs and IAS 34.
Quarterly information is unaudited, but reflects all normal adjustments which are, in the opinion of management, necessary to provide a fair statement of results and the company’s financial position for and as at the periods presented. The results of operations for the three months ended March 31, 2008, are not necessarily indicative of the operating results for future operating periods. The quarterly financial statements should be read in connection with the company’s audited Consolidated Financial Statements and the notes thereto for the year ended December 31, 2007. These have been delivered to the Registrar of Companies and the auditor’s report thereon was unqualified, did not draw attention to any matters by way of emphasis and did not contain statements under s237(2) or (3) Companies Act 1985.
These financial statements for the three months ended March 31, 2008, are unaudited and do not constitute statutory financial statements within the meaning of section 240 of the Companies Act 1985. This announcement was approved by the Board of Directors on April 24, 2008. The financial information for the year ended December 31, 2007 is derived from the statutory accounts for that year which have been delivered to the Registrar of Companies. The auditors reported on those accounts; their report was unqualified and did not contain a statement under s237(2) or (3) Companies Act 1985.
2. Geographical information
The following table provides an analysis of the group’s sales by geographical market based upon the location of the Group’s customers:
Three Months
Ended
(unaudited)
March March 31,
31,2007 2008
$’000 $’000

Revenue by region:
(restated)
63,902 38,555
Americas…………………
Rest of 41,186 26,920
World………….
105,088 65,475
Total……

The quarterly report in Q1 2007 presented the above on the basis of the location of the Group’s assets. As noted in the 2007 annual report the directors have changed the presentation as they believe the revised presentation to be more appropriate under IAS 14. The financial impact of this restatement has been to reallocate approximately $2.7m of revenues from Americas to the Rest of World for the quarter ended March 31, 2007.
3. Income taxes

Three Months
Ended
(unaudited)
March March
31, 31,
2008 2007
Tax charge by region: $’000 $’000
4,758 4,023
UK………………………………………………………….
2,410 1,067
Foreign……………………………………………………..
7,168 5,090
Total……………………………………………………….

4. Share based compensation

Share based compensation charges have been charged in the income statement within the following functional areas:
Three Months
Ended
(unaudited)
March March
31, 31,
2008 2007
$’000 $’000
Research and 522 256
development………………………………………………………….
Sales and 854 420
marketing……………………………………………………………
General and administrative 205 101
………………………………………………………………..
Total share based compensation 1,581 777
charge…………………………………………..

INDEPENDENT REVIEW REPORT TO AUTONOMY CORPORATION PLC

We have been engaged by the company to review the condensed set of financial statements in the quarterly financial report for the three months ended March 31, 2008, which comprises the income statement, the balance sheet, the statement of changes in equity, the cash flow statement and related notes 1 to 4. We have read the other information contained in the quarterly financial report and considered whether it contains any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements.
This report is made solely to the company in accordance with International Standard on Review Engagements 2410 issued by the Auditing Practices Board. Our work has been undertaken so that we might state to the company those matters we are required to state to them in an independent review report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company, for our review work, for this report, or for the conclusions we have formed.
Directors’ responsibilities
The quarterly financial report is the responsibility of, and has been approved by, the directors.
As disclosed in note 1, the annual financial statements of the company are prepared in accordance with the recognition and measurement criteria of IFRSs as adopted by the European Union. The condensed set of financial statements included in this quarterly financial report have been prepared in accordance with the accounting policies the group intends to use in preparing its next annual financial statements.
Our responsibility
Our responsibility is to express to the Company a conclusion on the condensed set of financial statements in the quarterly financial report based on our review.
Scope of Review
We conducted our review in accordance with International Standard on Review Engagements (UK and Ireland) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Auditing Practices Board for use in the United Kingdom. A review of quarterly financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK and Ireland) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying quarterly financial information is not prepared, in all material respects, in accordance with the recognition and measurement criteria of IFRSs as adopted for use in the EU and the basis set out in note 1.
Deloitte & Touche LLP
Chartered Accountants and Registered Auditor
April 24, 2008
Cambridge, UK

Financial Media Contacts: Analyst and Investor Contacts:
Edward Bridges/Haya Chelhot Sushovan Hussain, Chief Financial
Officer
Financial Dynamics
Autonomy Corporation plc
44(0)20-7831-3113 44(0)1223-448-000

Autonomy Corporation plc

NEW YORK, April 23 /PRNewswire/ — Underscoring the growing need for linking information on the SEC EDGAR database with financial information, Standard & Poor’s Compustat(R) and The Wharton School announced today that WRDS (Wharton Research Data Services) will now include S&P’s Filing Dates Database on its platform. The new database integrates SEC filings and filing dates, as well as certain extracted information, with existing Compustat fundamental and market data and provides WRDS users with new abilities to conduct research and analysis.
S&P’s Filing Dates Database, a joint development between Standard & Poor’s and Alon Financial Consulting LLC, which specializes in helping quantitative money managers find new sources of alpha as well as improve their existing models, maps SEC EDGAR filings and dates for all Compustat companies with market values above $1 million, for both active and inactive companies. It enables users to specify the dates on which relevant information became available to the market on the SEC EDGAR database. For example, researchers can find out when accruals, proxy statements, board resignations and other items were captured by the SEC EDGAR database. Researchers can also identify all Compustat companies that had an occurrence of a certain event included in the Filing Dates database between certain dates. Unlike traditional systems which only include matching CIK identifiers for active companies, the Filing Dates database contains both active and inactive companies, thereby removing a potential survivorship bias from research design.
The S&P’s Filing Dates Database includes all SEC EDGAR filings for S&P companies, their filing dates, and, where appropriate, the report date. In addition, it contains the end-of-period date for 10-Q and 10-K forms, the date on which the event occurred on Form 8-K, and the annual meeting of shareholders date for proxy statements. The database also includes the reasons for the Form 8-K filings by using the SEC categorization process.
WRDS offers a comprehensive, Web-based data management system that allows faculty, students and researchers to easily retrieve information from a wide variety of financial, economic, and marketing data sources. It is recognized around the world by the academic and financial research community as the leading business intelligence tool.
Data and content offerings on the WRDS platform have grown by more than 800% since inception. More than 225 top-tier business schools, universities and research institutions currently subscribe to WRDS, including The Federal Reserve Bank of New York, the Securities & Exchange Commission, and seven out of the eight Ivy League institutions. Much of WRDS’ recent growth has been among international and non-academic institutions, with more than 25 of the most recent subscribers being non-U.S. and federal institutions.
For more information, visit for Standard & Poor’s and for Wharton Research Data Services.
About Standard & Poor’s
Standard & Poor’s, a division of The McGraw-Hill Companies , is the world’s foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries and markets, Standard & Poor’s is an essential part of the world’s financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit .
About the Wharton School and WRDS
The Wharton School of the University of Pennsylvania — founded in 1881 as the first collegiate business school — is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. The most comprehensive source of business knowledge in the world, Wharton bridges research and practice through its broad engagement with the global business community. The school has more than 4,600 undergraduate, MBA, executive MBA, and doctoral students; more than 8,000 annual participants in executive education programs; and an alumni network of more than 82,000 graduates.
WRDS was developed in 1993 as a resource for Wharton faculty. It has grown to become a dedicated network of member institutions. This hosted data service has become the locus for quantitative data research and is recognized by the academic and financial research community around the world as the leading business intelligence tool. Today the WRDS community consists of scores of prominent universities, research institutions and non-profit organizations.
About Alon Financial Consulting, LLC
Alon Financial Consulting LLC (Alon) was established in 2007 to engage in consulting projects to firms in the financial services industry. Alon specializes in helping quantitative money managers in finding new sources of alpha as well as improving on their existing models. Alon uses its expertise in the intersection of accounting and finance, its deep knowledge of SEC filings and its ability to perform text mining to examine new and unexplored sources of information for investors. Alon’s team of consultants spans leading authorities in the fields of accounting, finance and text mining.
Standard & Poor’s

NEW YORK, April 22 /PRNewswire/ — The Conference Board announced today that the leading index for Germany declined 0.9 percent and the coincident index increased 0.1 percent in February.
— In February, the leading index fell sharply again as stock prices,
new orders in investment goods and consumer confidence all made large
negative contributions to the index. In the six months since August
2007, the leading index has declined by 2.6 percent (about a -5.1
percent annual rate), down substantially from the first half of 2007
when its six-month growth rate reached about 4.5 to 5.0 percent
(annual rate). The leading index has been down or flat in five of
the last six months, and the weaknesses among the leading indicators
have become more widespread than the strengths in recent months.

— The coincident index, a measure of current economic activity,
increased again in February. Positive contributions from employed
persons and manufacturing sales more than offset a large decline in
retail sales. Between August 2007 and February 2008, the coincident
index increased by 0.8 percent (about a 1.6 percent annual rate),
essentially the same as in the previous six months. In addition, the
strengths among the coincident indicators have remained more
widespread than the weaknesses in recent months.

— After fluctuating around a slightly rising trend from February 2006
through July 2007, the leading index has fallen sharply in the past
seven months. The coincident index has continued to grow steadily
in recent months, but its growth rate has declined since the first
quarter of 2007. At the same time, real GDP growth has slowed to a
1.1 percent annual rate during the fourth quarter, below the 1.7
percent average annual rate for the second and third quarters. The
recent behavior of the leading and coincident indexes so far
continues to suggest that the German economy is likely to continue
growing at a slow pace in the near term.

LEADING INDICATORS. Two of the seven components in the leading index increased in February. The positive contributors to the leading index- in order from the largest positive contributor to the smallest- are inventory change series*, and gross enterprises and properties income*. Negative contributors-in order from largest to smallest- are stock prices, new orders in investment goods industries, consumer confidence, yield spread, and new residential construction orders*.
With the 0.9 percent decrease in February, the leading index now stands at 97.2 (1990=100). Based on revised data, this index declined 0.9 percent in January and remained unchanged in December. During the six-month span through February, the leading index decreased 2.6 percent, with two of the eight components increasing (diffusion index, six-month span equals 28.6 percent).
*See notes under data availability
COINCIDENT INDICATORS. Three of the four components that make up the coincident index increased in February. The positive contributors to the coincident index were manufacturing sales, employed persons, and industrial production. Retail trade declined in February.
With the 0.1 percent increase in February, the coincident index now stands at 110.6 (1990=100). Based on revised data, this index increased 0.4 percent in January and increased 0.2 percent in December. During the six-month period through February, the coincident index increased 0.8 percent, with three of the four components increasing (diffusion index, six-month span equals 75.0 percent).
* See notes under data availability.
ABOUT THE CONFERENCE BOARD. Founded in 1916, The Conference Board is the premier business membership and research network. The Conference Board has become a global leader in helping executives build strong professional relationships, expand their business knowledge and find solutions to a wide range of business challenges. The Board’s Economics Program, is a recognized source of forecasts, economic analysis and objective indicators such as the Leading Economic Indicators and the Consumer Confidence Index.
This role is part of a long tradition of research and education that stretches back to the compilation of the first continuous measure of the cost of living in the United States in 1919. In 1995, The Conference Board assumed responsibility for computing the composite indexes from the U.S. Department of Commerce. The Conference Board now produces business cycle indexes for the U.S., Australia, France, Germany, Korea, Japan, Mexico, Spain and the U.K. To subscribe to any of these indexes, please contact customer service at 212-339-0345, or email .
Website:
The next release is scheduled for Tuesday, May 20, 2008 at 9:30 A.M. ET (3:30 P.M. CET)
The Conference Board

EDISON, N.J., April 22 /PRNewswire/ — Niteo Partners, an NEC Company, will introduce new solutions as part of their Platinum Sponsorship of the Cognos Forum 2008 in Las Vegas, NV on May 12-15.
Niteo was recently named Cognos North American Services Partner of the Year. The solutions to be featured are part of Niteo’s ‘Standardize, Optimize, and Visualize’ campaign.
Niteo Partners new solutions focus on three major competitive objectives for BI and EP to maximize the ROI for customer performance management investments:
Standardize: Establishing an enterprise BI platform to achieve consistent, actionable information throughout the enterprise.
Optimize: Streamlining and improving the enterprise planning, budgeting and forecasting processes by linking plan vs. actual performance for Finance, HR, Sales, Supply Chain and Operations.
Visualize: Delivering advanced performance dashboards and scorecards at the strategic, executive and operational levels to provide actionable insight into all levels of organizational performance.
“Niteo provides the expertise to get the desired ROI from your performance management investment,” noted Senior Vice President of Client Services Frank Bianchi, Niteo Partners. “We standardize your enterprise platforms, optimize critical business processes, and enable customers to visualize the performance potential of their organization.”
Niteo’s offerings and additional details will be available at the Forum Platinum Sponsor Booth #2. The Forum schedule for Niteo presentations is available at .
About Niteo Partners:
Niteo Partners, a consulting and systems integration firm, leverages both business expertise and technology to deliver innovative solutions for Global 2000 companies. A wholly-owned subsidiary of NEC Corporation of America, Niteo Partners offers solutions in business Intelligence, Corporate Performance Management, Operational and Financial Dashboards, Enterprise Planning and Migration Services. Niteo has sales and solution centers in the United States and utilizes a dual-shore capability in Chennai to create additional value and cost savings to their clients.
Niteo’s solutions provide clients with tangible business value from the latest technologies. By dramatically improving the quality and analysis of information, clients make smarter decisions, faster. For more information on our services, please visit .
About NEC Corporation of America
NEC Corporation of America is a leading technology provider of network, IT and identity management solutions. Headquartered in Irving, Texas, NEC Corporation of America is a North America subsidiary of NEC Corporation, a Global 200 company founded in 1899, which delivers technology and professional services ranging from server and storage technologies, virtualization and digital cinema solutions to biometric security, optical network, radio communications and IP voice and data systems. NEC Corporation of America serves carrier, SMB and large enterprise clients across multiple vertical industries. For more information, please visit .
(C) 2008 NEC is a registered trademark of NEC Corporation. All Rights Reserved.
Media Contact:
Michael Clark
Niteo Partners
379 Thornall Street
Edison NJ 07960
732-767-0400

Niteo Partners

LONG BEACH, N.Y., April 22 /PRNewswire-FirstCall/ — Planet Payment, Inc. , a leading international multi-currency payment and data processor, today announced that the Company has completed the purchase of the assets of the e-Commerce processing business formerly known as iPay. The sale of the assets, by Pay By Touch Payment Solutions, Inc. (”PBTPS”), a New Castle, Delaware-based payments company, was approved by the United States Bankruptcy Court for the Central District of California on April 21, 2008.
The iPay technology acquired is used by merchants to facilitate the acceptance of credit and debit cards as payment for goods and services, principally sold over the Internet, or in other non-face-to-face transactions. Concurrent with the acquisition, the Company completed a $3 million private placing of Convertible Promissory Notes with US-based private equity firm Camden Partners, an existing investor in the Company.
Under the terms of the transaction, Planet Payment paid total consideration of $1 million in cash for substantially all of the tangible assets, intellectual property and licenses comprising the iPay processing business, including the Internet payment gateway and related technology, web-based merchant transaction reporting module, credit card chargeback management systems, associated hardware and equipment, as well as the iPay facilities in New Castle, Delaware. The acquisition also includes the agent bank and small direct merchant portfolios comprising the iPay processing business. In addition, Planet Payment anticipates paying an additional $200,000-$300,000 for existing contracts, licenses and new arrangements, thereby raising the total cost of the transaction to $1.2 million - $1.3 million.
Planet Payment hired approximately 35 seasoned payments professionals that operated the iPay business for PBTPS that will complement Planet Payment’s existing employee base. The Company believes that this additional talent pool can help the Company grow and execute its international business plans.
Planet Payment anticipates investing an additional $200,000 over and above the acquisition to cover anticipated IT and other infrastructure upgrades. Planet Payment expects the iPay business to be close to break even in 2008 and, given the anticipated additional revenue generated by growth, as well as cost savings from expected synergies and consolidation of functions, to be a contributor to earnings in 2009.
The Company estimates that over the first twelve months, the agent bank portfolio, comprising more than 20 banks and in excess of 4,000 merchants, as well as the direct merchant portfolio, which includes approximately 850 merchants, will together generate processing volume in excess of $1 billion and contribute approximately $7 million in net revenue to Planet Payment.
Commenting on the transaction, Philip Beck, Chairman and CEO of Planet Payment said, “Planet Payment is delighted to welcome the iPay team to Planet Payment. We believe that with the transaction announced today, we have added a core group of experienced payment professionals that will complement our seasoned team.
“The assets that we have acquired will enable Planet Payment to better meet the demands and e-commerce processing needs of customers worldwide with a more robust suite of products and services. We believe that the iPay technology will help fill a market need internationally, specifically in the Asia Pacific region, where merchants have fewer options for Internet gateways that help facilitate e-commerce transactions. We are looking forward to working with the merchants and banks that are our new customers and can assure them that we are committed to achieving a seamless transition and continuity of payment services. We believe that the assets that we have acquired provide value to both our customers and shareholders, which exceed the total price of the transaction.”
Concurrently with the acquisition, the Company raised $3,000,000 (before expenses) in a private placing of Convertible Promissory Notes, with the US private equity firm Camden Partners, an existing investor in the Company. The Convertible Promissory Notes, have a 4-year term and are convertible into an aggregate of 1,333,333 Common Shares at a conversion price of $2.25 per share. The Notes carry an interest rate of 8% per annum and are convertible at any time at the option of the Noteholders, or automatically upon the achievement of certain milestones by the Company, namely a qualified US IPO, or the achievement of certain liquidity and market value in the trading of the Company’s Common Shares.
Philip Beck added, “We greatly appreciate the continued support from Camden Partners, who not only alerted us to the acquisition opportunity, but also provided the necessary financing and working capital to allow the Company to execute its business plan.”
Planet Payment, Inc.
Philip D. Beck, Chairman & CEO / Tel: 1 516 670 3200
Joel Mayer, Director of Corporate Development

Redleaf Communications Ltd (in the UK)
Emma Kane / Samantha Robbins / Tel: 44 20 7822 0200
Henry Columbine

ICR, Inc. (in the USA) Tel: 1 203 682 8200
Brian Prenoveau, CFA / Ashley Ammon MacFarlane

Canaccord Adams Limited Tel 44 20 7050 6500
Mark Williams

About Planet Payment(R)

Planet Payment’s Common shares trade on AIM under the symbols PPT for unrestricted Common shares and PPTR for Reg S Common shares.
Planet Payment enables processors, acquiring banks and their merchants to accept, process and reconcile credit card transactions in multiple currencies, allowing cardholders to view prices and settle transactions in their native currency. The Pay in Your Currency service is a component of Planet Payment’s suite of multi-currency processing solutions, which include a multi-currency pricing e-commerce service and a Dynamic Currency Conversion service. Planet Payment also recently launched BuyVoice(TM), a mobile payment and commerce solution, which allows merchants to accept payments and sell product to customers using any mobile or landline phone.
Planet Payment is headquartered in New York and has offices in Atlanta, Beijing, Bermuda, London, New Castle, Delaware, Hong Kong, Shanghai and Singapore.
Forward-Looking Statements. Information contained in this announcement may include ‘forward-looking statements’. All statements other than statements of historical facts included herein, including, without limitation, those regarding the financial position, business strategy, plans and objectives of management for future operations of both Planet Payment and the acquired business, which is the subject of the acquisition (including development plans and objectives relating to Planet Payment’s and such acquired business) are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Planet Payment’s present and future business strategies, the assets acquired, contracts assumed and personnel hired and the environment in which Planet Payment expects to operate in future, which assumptions may or may not be fulfilled in practice. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the risk that implementation, adoption and offering of the service by processors, acquirers, merchants and others may take longer than anticipated, or may not occur at all, regulatory changes, particularly in China and changes in card association regulations and practices; general economic risk and volume of international travel and commerce and others. Additional risks may arise with respect to the acquired assets and assumed contracts of which Planet Payment is not fully aware at this time. These forward-looking statements speak only as to the date of this announcement and cannot be relied upon as a guide to future performance. Planet Payment expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.
Planet Payment, Inc.

NEW YORK, April 28 /PRNewswire/ —

- Former Thomson President & CEO Richard J. Harrington Appointed Chairman

- Former Reuters Media Managing Director Monique Villa Appointed CEO

Thomson Reuters (NYSE: TRI; TSX: TRI; LSE: TRIL: Nasdaq: TRIN), the
world’s leading source of intelligent information for businesses and
professionals, today announced the new leadership team for the its
foundation. With the approval of the foundation’s trustees, Richard J.
Harrington, former Thomson president and chief executive officer, has been
appointed foundation chairman. Monique Villa, former managing director at
Reuters Media, has been appointed chief executive officer of the foundation.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080424/NYTH069LOGO )

Thomas H. Glocer, chief executive officer of Thomson Reuters, said, “I am
truly delighted that Dick Harrington and Monique Villa have accepted these
roles. Together they will bring a huge amount of expertise, creativity,
experience and ideas to the foundation. The foundation underpins Thomson
Reuters business strategy with a central commitment to the communities in
which we do business.”
“In building on the heritage of three decades of the Reuters Foundation,
and by leveraging the broader assets and capabilities of our enlarged global
business, Dick and Monique will be able to drive the work of the foundation
forward, expanding its influence and work across the globe.”
Mr. Harrington added, “I’m honored to continue my tenure with Thomson
Reuters in this capacity and thank Geert Linnebank for his vision and
leadership as previous chairman of the foundation. During my tenure at
Thomson, we developed an outstanding track record for making a difference in
the communities in which we operate. I am confident we can uphold that
tradition while supporting the historic priorities of the foundation.”
Ms. Villa said, “I am hugely excited by the opportunity to help lead and
develop the foundation, to extend its global reach and impact, and utilize
the tremendous skills and expertise within Thomson Reuters. Through various
supported initiatives, the foundation will provide knowledge, information and
support to diverse communities in which we operate, giving them the means and
a voice with which to make a difference.”
Reuters Foundation runs four core programs: journalism training, Reuters
AlertNet (www.alertnet.org), the inception and creation of Aswat al Iraq
(www.aswataliraq.info) and part-funding of the Reuters Institute for the
Study of Journalism at the University of Oxford. It is expected to continue
to run these programs while expanding to take on more initiatives to reflect
the expertise, global community and strategic business goals of Thomson
Reuters.

The foundation’s strategic and operational goals are overseen by its
board of trustees, which in addition to Mr. Harrington includes Geert
Linnebank, the former chairman; David Craig, Thomson Reuters chief strategy
officer who oversees management of the foundation’s activities; David
Schlesinger, Thomson Reuters editor in chief; as well as independent
directors Lawton Fitt, Kenneth Olisa and Sir Crispin Tickell.

Reuters Foundation is registered as a charity in England and Wales, UK,
registered number 1082139. Established in November 1982, the trustees
determined that the priorities of the charity were to be the advancement of
education, humanitarian aid and the environment. Reuters Foundation
Consultants Limited is a wholly owned subsidiary of the above company.
Reuters Foundation is the sole member of Reuters Foundation Inc., a New York
not-for-profit corporation which holds 501c3 status.

Community Engagement at Thomson Reuters

Working in partnership with community organizations and charities, the
people at Thomson Reuters provide valuable support by sharing time,
expertise, skills and resources, while also building their own skills and
awareness of social issues. Thomson Reuters is committed to using its
specialized knowledge, information, technology and resources to develop
robust programs that help individuals, families and communities reach their
full potential. Thomson Reuters staff have developed many exciting programs
to share skills - some outstanding examples from the last 12 months are
published at:
http://www.thomsonreuters.com/about/corp_responsibility/community/.

About Thomson Reuters

Thomson Reuters is the world’s leading source of intelligent information
for businesses and professionals. We combine industry expertise with
innovative technology to deliver critical information to leading decision
makers in the financial, legal, tax and accounting, scientific, healthcare
and media markets, powered by the world’s most trusted news organization.
With headquarters in New York and major operations in London and Eagan,
Minnesota, Thomson Reuters employs more than 50,000 people in 93 countries.
Thomson Reuters shares are listed on the New York Stock Exchange (NYSE: TRI);
Toronto Stock Exchange (TSX: TRI); London Stock Exchange (LSE: TRIL); and
Nasdaq (Nasdaq: TRIN). For more information, go to www.thomsonreuters.com.

About Richard Harrington

Prior to his appointment as Chairman of the foundation, Mr. Harrington
was president and chief executive officer of The Thomson Corporation. During
his 10 years as CEO, Mr. Harrington led the transformation of Thomson from a
diverse holding company with interests in publishing into an integrated
operating company to a leading global provider of electronic information,
software and services to business and professional customers. Under his
direction, Thomson’s market value more than tripled and the company became a
celebrated case study in how a large business can adapt quickly and
repeatedly to take advantage of changing markets.

Prior to becoming CEO of The Thomson Corporation, Mr. Harrington held a
number of senior leadership positions within the company, including CEO of
Thomson Newspapers, and CEO of Thomson Professional Publishing.

Mr. Harrington serves on the boards of directors of Xerox Corporation
(NYSE: XRX) and the Norwalk Community College Foundation. He also sits on
advisory boards associated with the William F. Achtmeyer Center for Global
Leadership at Dartmouth’s Tuck business School, the College of Business
Administration at the University of Rhode Island (URI) and the President’s
Council at URI.

He has received many honors during his career. In 2007, he received the
“Legend in Leadership” award from the Yale University Chief Executive
Leadership Institute; the “CEO of the Year” award from the Executive Council,
and the “Man of the Year” award from the National Executive Council for his
many philanthropic activities.

About Monique Villa

Monique Villa was formerly managing director of Reuters Media. She is a
business leader with broad international media industry experience and a
strong record of success in launching high profile initiatives and growing
revenues. Ms. Villa is also chairman of Action Images, a specialist sports
photography agency acquired by Reuters in September 2005.

Ms. Villa joined Reuters in 2000 and has since then been managing the
picture and text news business for the Reuters News Agency. Ms. Villa has
been instrumental in transforming the picture business and negotiated
important deals for Media and Editorial, including the recent partnership
with the International Herald Tribune to jointly produce their print and
online business pages.

Prior to joining Reuters, Ms. Villa was with Agence France Presse (AFP)
where she held a number of senior journalistic and management positions. As a
correspondent with AFP she reported for a number of years from Paris and
Rome, became deputy head of its political news service, then Bureau Chief for
UK and Ireland, based in London. In 1996, she became director of strategy and
business development at the headquarters in Paris, with responsibility for
AFP’s major partnerships worldwide.

Ms. Villa studied Law and Political Science and has a Diploma from the
Paris Centre de Formation Des Journalistes.

CONTACTS
Fred Hawrysh
Global Director, Corporate Affairs
1-203-539-8314
fred.hawrysh@thomsonreuters.com

Victoria Brough
Head of Corporate Communications, EMEA
44-(0)-207-542-8762
victoria.brough@thomsonreuters.com

Frank DeMaria
Global Director, Media Relations
1-646-223-5507
frank.demaria@thomsonreuters.com

Web site: http://www.thomsonreuters.com
http://www.alertnet.org
http://www.aswataliraq.info
http://www.thomsonreuters.com/about/corp_responsibility/community

Thomson Reuters

NEW YORK, April 28 /PRNewswire-FirstCall/ — Howard Ullman, Chairman of CHDT Corp. (BULLETIN BOARD: CHDO) () will be updating the investment community through his personal profile on MyWallst.net available at . The dynamic profile will include exclusive interviews with Mr. Ullman, company blogs on which investors can comment, his personal stock watchlist and photos of company products.
Visit Mr. Ullman’s profile at .
Stay updated about CHDT Corp., ask Mr. Ullman a question, post a comment on his personal page, join CHDT Corp.’s message board to discuss company activity with other interested parties, and join his financial social network today. CHDT Corp. will also participate in the website’s banner advertising program, with a full splash page describing the company and its products, as well as dynamic quotes.
About WallSt.net:
is owned and operated by WallStreet Direct, Inc., a wholly owned subsidiary of Financial Media Group, Inc. (). The Web site is a leading provider of timely business news, executive interviews, multimedia content, and research tools. Financial Media Group, Inc. also owns , a financial social network for investors, and Financial Filings Corp. (), a provider of compliance solutions to publicly traded companies. We have received two thousand five hundred dollars from CHDT Corporation for media and advertising services. In addition to WallSt.net, WallStreet Direct, Inc. owns and operates WallStRadio (), a business and finance podcast Web site.
About CHDT Corp.
CHDT Corporation is a management company, providing services and taking an active role in the management and direction of all business units that could benefit from cumulative business experience in a variety of industries. Common components operated at the corporate level are human resources, financial services, accounting services, legal services, budgetary control, marketing support, information technology, and systems support. By providing these corporate services for the business units, each unit is charged with focusing on planned revenue growth. See for more information about the company and and for information on our current product offerings.
CONTACT: Jane Klein

954-252-3440

CHDT Corp.

NEW YORK, April 30 /PRNewswire/ — TCS Financial Solutions, the strategic business unit of Tata Consultancy Services (TCS), dedicated to providing business application solutions to the banking, insurance and capital markets industries, announced today that TCS BaNCS Core Banking is developing additional functionality in support of US regulatory compliance requirements.
TCS BaNCS Core Banking supports the core processing of a number of the world’s most innovative banks, providing a modern next generation banking platform that supports full lifecycle banking across multiple channels. TCS BaNCS Core Banking automates every aspect of a bank’s operating environment by integrating front, middle, and back office processes. As well as being technically efficient with substantially lower processing costs this real-time, multilingual and multicurrency system supports 24/7, event driven transaction processing.
TCS Financial Solutions has been investing heavily in its US compliance Financial Solutions portfolio for over a 12 month period. To improve its competitive strength TCS Financial Solutions has now engaged with Sheshunoff Consulting Technology to bring the US Compliance portion of TCS BaNCS Core Banking to full market readiness.
According to Robert Hunt, a Research Director in the Retail Banking Practice at TowerGroup, “Most US mid-tier and larger banks continue to process their core systems using systems developed in the 1980s. These systems have become increasingly difficult to maintain and several large banks are now considering replacing their core systems. As banks undertake the replacement effort, they will evaluate systems from both US-based and global core banking systems vendors. This evaluation must consider the ability of the systems to meet US legal and regulatory requirements. It makes perfect sense then, for leading global vendors such as TCS Financial Solutions to work with a US-based firm that has expertise in regulatory requirements to ensure their systems are fully compliant.”
“With the assistance of Sheshunoff Consulting Technology we are developing an advanced set of regulatory compliance processes to attach to TCS BaNCS Core Banking platform,” states N. Ganapathy Subramaniam, President, TCS Financial Solutions. “This long term strategy will assist clients to minimize compliance risks and respond to regulatory compliance policies and procedures in a prompt and effective manner.”
Gabrielle Sheshunoff, CEO, Sheshunoff Consulting Technology adds: “Sheshunoff has been assisting banks throughout the US to achieve regulatory compliance and security best practice. We are delighted to be working with TCS Financial Solutions dedicated team of highly respected banking and IT practitioners to drive synergies forward with our compliance expertise and TCS BaNCS Core Banking business application.”
TCS BaNCS Core Banking also recently secured its position in the Leader’s quadrant of Gartner’s Magic Quadrant for International Retail Core Banking, 2008. In addition, the latest International Banking Systems 2007 Sales League Table recognized TCS BaNCS as the No.2 best selling Universal Banking Solution and No.3 best selling Retail/Private Banking Solution in the world.
About Sheshunoff Consulting Technology
For over 30 years, the experienced consultants at Sheshunoff Consulting Technology have been serving a wide range of banking clients. Sheshunoff experts help banking institutions improve profitability, optimize business process, manage risk, maximize technology, meet regulatory requirements and identify their best opportunities for growth. Sheshunoff is widely recognized as a trusted advisor to the banking industry, providing institutions the tools they need to meet their business goals and improve performance.
About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. Our mission is to provide best of breed solutions that will drive growth, reduce costs, mitigate risk and offer a faster speed to market for our clients. With a global customer base in excess of 250 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. A part of the Tata Group, India’s largest industrial conglomerate, TCS has over 111,000 of the world’s best trained IT consultants in 50 countries. The company generated consolidated revenues of US $5.7 billion for fiscal year ended 31 March 2008 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at
TCS Financial Solutions