Sunday, February 15, 2009
WATG Makes a Strong Push!!!
Wonder Auto Technology Group continues to move forward. The stock and the investment starts to take shape for 2009.
Tuesday, January 27, 2009
XTO Energy
XTO Energy Monetizes and Resets 37% of 2009 Hedge Position
FORT WORTH, Texas, Jan. 14 /PRNewswire-FirstCall/ -- XTO Energy Inc. (NYSE: XTO) announced today that over the past thirty days it has entered into early settlement and reset arrangements with respect to 37% of its 2009 commodity hedge volumes. As a result of these early settlements, the Company realized about $900 million of after-tax proceeds which it used to reduce its outstanding debt. The Company expects to end the first quarter of 2009 with net debt of approximately $11 billion. The net effect of the early settlements is to accelerate cash receipts, while maintaining the Company's full hedge position against further declines in oil and natural gas prices during the year. For accounting purposes, the commodity hedge gains and losses will be recognized in the underlying production quarter.
"These hedge monetizations and the resulting debt repayment highlight our ongoing commitment to financial strength in these uncertain times," stated Bob R. Simpson, Chairman and Founder. "By executing these transactions, the Company has already accomplished the lion's share of our announced minimum debt reduction of $1.25 billion. With our strong cash margins and expansive development inventory, XTO maintains maximum flexibility for growing long-term shareholder value."
XTO Energy Inc. is a domestic natural gas producer engaged in the acquisition, exploitation and development of quality, long-lived oil and natural gas properties in the United States.
This release can be found at http://www.xtoenergy.com
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include estimates and give our current expectations or forecasts regarding our financial performance, future financial strength, planned debt reduction, cash margins, long-term shareholder value and future hedging. Although we believe our forward-looking statements are reasonable, they can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Further information on risks and uncertainties is available in the Company's filings with the Securities and Exchange Commission, which are incorporated by this reference as though fully set forth herein.
SOURCE XTO Energy Inc.
FORT WORTH, Texas, Jan. 14 /PRNewswire-FirstCall/ -- XTO Energy Inc. (NYSE: XTO) announced today that over the past thirty days it has entered into early settlement and reset arrangements with respect to 37% of its 2009 commodity hedge volumes. As a result of these early settlements, the Company realized about $900 million of after-tax proceeds which it used to reduce its outstanding debt. The Company expects to end the first quarter of 2009 with net debt of approximately $11 billion. The net effect of the early settlements is to accelerate cash receipts, while maintaining the Company's full hedge position against further declines in oil and natural gas prices during the year. For accounting purposes, the commodity hedge gains and losses will be recognized in the underlying production quarter.
"These hedge monetizations and the resulting debt repayment highlight our ongoing commitment to financial strength in these uncertain times," stated Bob R. Simpson, Chairman and Founder. "By executing these transactions, the Company has already accomplished the lion's share of our announced minimum debt reduction of $1.25 billion. With our strong cash margins and expansive development inventory, XTO maintains maximum flexibility for growing long-term shareholder value."
XTO Energy Inc. is a domestic natural gas producer engaged in the acquisition, exploitation and development of quality, long-lived oil and natural gas properties in the United States.
This release can be found at http://www.xtoenergy.com
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include estimates and give our current expectations or forecasts regarding our financial performance, future financial strength, planned debt reduction, cash margins, long-term shareholder value and future hedging. Although we believe our forward-looking statements are reasonable, they can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Further information on risks and uncertainties is available in the Company's filings with the Securities and Exchange Commission, which are incorporated by this reference as though fully set forth herein.
SOURCE XTO Energy Inc.
VMware
VMware Q4 Strong but Expects Future Revenue Drop
Recession sees customers pull in their horns, but the vendor will soldier on.
January 26, 2009By Richard Adhikari: More stories by this author:
VMware ended 2008 on a strong note but gave ominous guidance for 2009, echoing what many other firms have said in reporting their fourth quarter 2008 numbers.
Non-GAAP net income for the quarter ended December 31, 2008 was $142 million, or 36 cents per diluted share, up about 38 percent year-over-year (YoY) over the 2007 figure of $103 million or 26 cents per diluted share.
For the year, non-GAAP net income was $416 million, or $1.05 cents per diluted share. This was 41 percent higher YoY than the $295 million, or 82 cents per diluted share, chalked up in 2007. U.S. revenues for 2008 grew 37 percent to $988 million YoY while international revenues grew 48 percent to $893 million YoY.
Quarterly revenues overall totaled $515 million, up 25 percent YoY. Revenues for all of 2008 totaled $1.9 billion, up 42 percent YoY. The company beat Wall St. analysts' estimates of 26 cents a share on revenue of $510 million. "License revenues were at their highest levels in company history in Q4 2008," VMware (NYSE: VMW) President and CEO Paul Maritz told a conference call with analysts.
For more stories on this topic:
However, despite IDC's predictions that 2009 will be a good year for virtualization, VMware warned of a bad first quarter during the conference call on Monday. It predicts a nearly eight percent slide in quarterly revenue to $475 million.
"We believe customers will be more conservative in budgets in early 2009, and are planning our business for $475 million in revenue in Q1, implying a 10 percent decline year over year in revenue," Maritz said.
Economic uncertainty will cause the first quarter slide, Maritz said. "We've never seen this level of uncertainty before," Maritz said. "CFOs across the board are trying to preserve cash and keep as many options open as possible."
VMware expects enterprise licensing agreements and service revenues to fall in the first quarter of 2009. However, it will not veer from its strategic initiatives as laid out during its VMworld 2008 annual user conference in September.
VMware has a strong balance sheet, finishing the year with more than $1.8 billion in cash and $870 million in deferred revenue with no long-term debt.
Strategic initiatives
These are the Virtual Datacenter Operating System (VDC-OS), its vCloud initiative, and the vClient initiative. "We've had leading service providers, including SunGard and Terremark (NASDAQ: TMRK), use vCloud," Maritz said. The vCloud initiative aims to let users transfer data between datacenters on-premise and in the cloud.
Microsoft's (NASDAQ: MSFT) looming presence in the virtualization market continues to bedevil VMware, which was forced by market pressures to sign on to its arch-rival's third-party server virtualization validation program (SVVP) in August.
Maritz made a point of noting VMware's leadership in the industry. "We are not yet seeing major losses to competition," he said. "The major concern is the economy." Maritz also said 65 percent of customers now say they have a VMware first policy for purchases, up from 46 percent in Q4 2007.
But Maritz, who is known for his competitiveness, is not taking anything for granted. "The first order of business is surviving and thriving in what promises to be hard economic times," he said.
To that end, he has cut, and plans to continue cutting, expenses, postponed merit increases, and is planning to roll out new products for 2009. "We and our partners are preparing a banquet for customers in VDC-OS," he said. "We're also preparing management and automation solutions and extending them to availability and security in 2009."
VMware will also extend virtualization to mobile phones, update its vCloud offerings and will complete centralized management.
In addition, VMware will spend money strategically. "We'll continue to make hires, but in the most strategic areas where payback will be very short, such as in areas where we have little or no presence," he said.
TAGS: virtualization, VMWare, EMC, earnings
Recession sees customers pull in their horns, but the vendor will soldier on.
January 26, 2009By Richard Adhikari: More stories by this author:
VMware ended 2008 on a strong note but gave ominous guidance for 2009, echoing what many other firms have said in reporting their fourth quarter 2008 numbers.
Non-GAAP net income for the quarter ended December 31, 2008 was $142 million, or 36 cents per diluted share, up about 38 percent year-over-year (YoY) over the 2007 figure of $103 million or 26 cents per diluted share.
For the year, non-GAAP net income was $416 million, or $1.05 cents per diluted share. This was 41 percent higher YoY than the $295 million, or 82 cents per diluted share, chalked up in 2007. U.S. revenues for 2008 grew 37 percent to $988 million YoY while international revenues grew 48 percent to $893 million YoY.
Quarterly revenues overall totaled $515 million, up 25 percent YoY. Revenues for all of 2008 totaled $1.9 billion, up 42 percent YoY. The company beat Wall St. analysts' estimates of 26 cents a share on revenue of $510 million. "License revenues were at their highest levels in company history in Q4 2008," VMware (NYSE: VMW) President and CEO Paul Maritz told a conference call with analysts.
For more stories on this topic:
However, despite IDC's predictions that 2009 will be a good year for virtualization, VMware warned of a bad first quarter during the conference call on Monday. It predicts a nearly eight percent slide in quarterly revenue to $475 million.
"We believe customers will be more conservative in budgets in early 2009, and are planning our business for $475 million in revenue in Q1, implying a 10 percent decline year over year in revenue," Maritz said.
Economic uncertainty will cause the first quarter slide, Maritz said. "We've never seen this level of uncertainty before," Maritz said. "CFOs across the board are trying to preserve cash and keep as many options open as possible."
VMware expects enterprise licensing agreements and service revenues to fall in the first quarter of 2009. However, it will not veer from its strategic initiatives as laid out during its VMworld 2008 annual user conference in September.
VMware has a strong balance sheet, finishing the year with more than $1.8 billion in cash and $870 million in deferred revenue with no long-term debt.
Strategic initiatives
These are the Virtual Datacenter Operating System (VDC-OS), its vCloud initiative, and the vClient initiative. "We've had leading service providers, including SunGard and Terremark (NASDAQ: TMRK), use vCloud," Maritz said. The vCloud initiative aims to let users transfer data between datacenters on-premise and in the cloud.
Microsoft's (NASDAQ: MSFT) looming presence in the virtualization market continues to bedevil VMware, which was forced by market pressures to sign on to its arch-rival's third-party server virtualization validation program (SVVP) in August.
Maritz made a point of noting VMware's leadership in the industry. "We are not yet seeing major losses to competition," he said. "The major concern is the economy." Maritz also said 65 percent of customers now say they have a VMware first policy for purchases, up from 46 percent in Q4 2007.
But Maritz, who is known for his competitiveness, is not taking anything for granted. "The first order of business is surviving and thriving in what promises to be hard economic times," he said.
To that end, he has cut, and plans to continue cutting, expenses, postponed merit increases, and is planning to roll out new products for 2009. "We and our partners are preparing a banquet for customers in VDC-OS," he said. "We're also preparing management and automation solutions and extending them to availability and security in 2009."
VMware will also extend virtualization to mobile phones, update its vCloud offerings and will complete centralized management.
In addition, VMware will spend money strategically. "We'll continue to make hires, but in the most strategic areas where payback will be very short, such as in areas where we have little or no presence," he said.
TAGS: virtualization, VMWare, EMC, earnings
Wonder Auto Technology Group
Market Report -- In Play (WATG)January 21, 2009 11:16 AM ET
Wonder Auto Technology Inc (WATG) Stock Quote, Chart, News, Add to Watchlist
Wonder Auto Tech lowers FY08 and FY09 revs guidance Co sees FY08 revs over $140 mln, down from prior guidance of over $150 mln, vs $140.52 mln First Call consensus and FY09 revs over $200 mln, down from prior guidance of $220-230 mln, vs $192.93 mln First Call consensus. "The global economy has shown a downturn trend after the subprime mortgage crisis in 2008, which has led to a slowdown of the growth rate for China's domestic auto market and export market. Accordingly, the company has adjusted its perspective performance because of the weak fourth quarter financials affected by the changing environment, but we will still be able to maintain a growth rate of 37% for the whole of 2008."
Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.
Read more In Play articles
Back to News Home
Wonder Auto Technology Inc (WATG) Stock Quote, Chart, News, Add to Watchlist
Wonder Auto Tech lowers FY08 and FY09 revs guidance Co sees FY08 revs over $140 mln, down from prior guidance of over $150 mln, vs $140.52 mln First Call consensus and FY09 revs over $200 mln, down from prior guidance of $220-230 mln, vs $192.93 mln First Call consensus. "The global economy has shown a downturn trend after the subprime mortgage crisis in 2008, which has led to a slowdown of the growth rate for China's domestic auto market and export market. Accordingly, the company has adjusted its perspective performance because of the weak fourth quarter financials affected by the changing environment, but we will still be able to maintain a growth rate of 37% for the whole of 2008."
Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.
Read more In Play articles
Back to News Home
Wonder Auto Technology Group
Wonder Auto Technology Announces Adjustments to 2008 and 2009 Guidance
BEIJING, Jan. 21 /PRNewswire-Asia-FirstCall/ -- Wonder Auto Technology, Inc., (Nasdaq: WATG) a leading manufacturer of automotive electrical and suspension parts in China, today announced its adjustments of the 2008 and 2009 Guidance. -- For 2008 guidance, the sales revenue is expected to be over $140
million, reflecting a 37% YoY increase.
-- For 2009 guidance, the sales revenue is expected to be over $200
million, reflecting a 40% YoY increase.
Mr. Qingjie Zhao, chairman and CEO of Wonder Auto Technology, Inc. stated that "The global economy has shown a downturn trend after the subprime mortgage crisis in 2008, which has led to a slowdown of the growth rate for China's domestic auto market and export market. Accordingly, the company has adjusted its perspective performance because of the weak fourth quarter financials affected by the changing environment, but we will still able to maintain a growth rate of 37% for the whole of 2008."
Mr. Zhao continued, "The company has instituted a company-wide cost savings program to reduce various expenses and has, through its Research and Development efforts, implemented some technology innovations, raising production efficiency. The Chinese government has instituted a series of policies to stimulate internal consumer markets, promote automobile sales, improve auto financing and support the development of alternative energy vehicles. With 85% of our total revenue generated from China's market, and a continuous focus on the development of low-emission vehicle parts, we are very confident that we will maintain our fast-growing momentum in this market and will continue to provide favorable returns to our investors by implementing the competitive strategy of "Lower Cost Orientation," accelerating development of alternative energy vehicle parts and introducing new products, all resulting in us gaining more customers."
About Wonder Auto
Based in Jinzhou City, Liaoning, China, Wonder Auto Technology, Inc., through its Chinese subsidiaries, designs, develops, manufactures and sells automotive electrics, suspension products and engine accessories. Wonder Auto was ranked second in sales revenue in the China market for automotive alternator and starter in 2007. With respective 5 different series and over 150 models of alternators, 70 models of starters, various suspension, engine related parts, the Company supplies to a wide range of automakers, engine producers and auto parts suppliers both domestically and internationally. Wonder Auto's main customers include Beijing Hyundai Motor Company, Shenyang Aerospace Mitsubishi Motors Engine Manufacturing Co., Ltd., Harbin Dongan Automotive Engine Manufacturing Co., Ltd., Tianjin FAW Xiali Automotive Co., Ltd, Shanghai VW and Weifang Diesel Engine. For more information, please log on to http://www.watg.cn .
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward- looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products, product defects and any related product recall; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors and risks mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2007 and any subsequent SEC filings. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law. For further information, please contact:
Wonder Auto Technology, Inc.
Lydia Zhao
Assistant CFO
Tel: +86-10-8478-5339
Cell: +86-130-2118-4792
Email: lydiaz@watg.cn
Yechon Xie
Investor Relations Manager
Tel: +86-416-266-1186
Cell: +86-137-0006-1685
Email: ycxie@watg.cn
SOURCE Wonder Auto Technology, Inc.
BEIJING, Jan. 21 /PRNewswire-Asia-FirstCall/ -- Wonder Auto Technology, Inc., (Nasdaq: WATG) a leading manufacturer of automotive electrical and suspension parts in China, today announced its adjustments of the 2008 and 2009 Guidance. -- For 2008 guidance, the sales revenue is expected to be over $140
million, reflecting a 37% YoY increase.
-- For 2009 guidance, the sales revenue is expected to be over $200
million, reflecting a 40% YoY increase.
Mr. Qingjie Zhao, chairman and CEO of Wonder Auto Technology, Inc. stated that "The global economy has shown a downturn trend after the subprime mortgage crisis in 2008, which has led to a slowdown of the growth rate for China's domestic auto market and export market. Accordingly, the company has adjusted its perspective performance because of the weak fourth quarter financials affected by the changing environment, but we will still able to maintain a growth rate of 37% for the whole of 2008."
Mr. Zhao continued, "The company has instituted a company-wide cost savings program to reduce various expenses and has, through its Research and Development efforts, implemented some technology innovations, raising production efficiency. The Chinese government has instituted a series of policies to stimulate internal consumer markets, promote automobile sales, improve auto financing and support the development of alternative energy vehicles. With 85% of our total revenue generated from China's market, and a continuous focus on the development of low-emission vehicle parts, we are very confident that we will maintain our fast-growing momentum in this market and will continue to provide favorable returns to our investors by implementing the competitive strategy of "Lower Cost Orientation," accelerating development of alternative energy vehicle parts and introducing new products, all resulting in us gaining more customers."
About Wonder Auto
Based in Jinzhou City, Liaoning, China, Wonder Auto Technology, Inc., through its Chinese subsidiaries, designs, develops, manufactures and sells automotive electrics, suspension products and engine accessories. Wonder Auto was ranked second in sales revenue in the China market for automotive alternator and starter in 2007. With respective 5 different series and over 150 models of alternators, 70 models of starters, various suspension, engine related parts, the Company supplies to a wide range of automakers, engine producers and auto parts suppliers both domestically and internationally. Wonder Auto's main customers include Beijing Hyundai Motor Company, Shenyang Aerospace Mitsubishi Motors Engine Manufacturing Co., Ltd., Harbin Dongan Automotive Engine Manufacturing Co., Ltd., Tianjin FAW Xiali Automotive Co., Ltd, Shanghai VW and Weifang Diesel Engine. For more information, please log on to http://www.watg.cn .
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward- looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products, product defects and any related product recall; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in China; any statements of belief or intention; any of the factors and risks mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2007 and any subsequent SEC filings. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law. For further information, please contact:
Wonder Auto Technology, Inc.
Lydia Zhao
Assistant CFO
Tel: +86-10-8478-5339
Cell: +86-130-2118-4792
Email: lydiaz@watg.cn
Yechon Xie
Investor Relations Manager
Tel: +86-416-266-1186
Cell: +86-137-0006-1685
Email: ycxie@watg.cn
SOURCE Wonder Auto Technology, Inc.
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