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Bel Fuse (BELFB) this descend 2018 salary convention title Transcript | killexams.com actual Questions and Pass4sure dumps

Logo of jester cap with thought bubble with words 'Fool Transcripts' below it

photograph supply: The Motley fool.

Bel Fuse (NASDAQ:BELFB)this autumn 2018 revenue conference CallFeb. 21, 2019 eleven:00 a.m. ET

Contents:
  • organized Remarks
  • Questions and solutions
  • name participants
  • organized Remarks:

    Operator

    first rate day, and welcome to the Bel Fuse Inc. fourth quarter and full-yr 2018 effects convention name. today's convention is being recorded. at present, i exigency to turn the convention over to Mr.

    Dan Bernstein, president and chief govt officer. please ebb forward, sir.

    Dan Bernstein -- President and Chief executive Officer

    thank you, Allison. joining me on the call today is Craig Brosious, their vice president of Finance; and Lynn Hutkin, their director of fiscal reporting. before they start the name, i would want to exact Lynn to snap over the secure harbor remark. Lynn?

    Lynn Hutkin -- Director of economic Reporting

    thanks, Dan. gracious morning, every person. before they birth, i'd want to read the following protected harbor statement. aside from historic assistance contained on this name, the concerns mentioned on this title comparable to statements related to predicted augment from the business's distribution channel, the outcomes of the ERP outfit implementation and different high-quality company and augment developments are forward-searching statements as described below the inner most Securities Litigation Reform Act of 1995 that comprises dangers and uncertainties.

    exact results could vary materially from these projections. among the many factors that may trigger genuine effects to differ materially from such statements are: the market issues dealing with their shoppers; the carrying on with viability of sectors that matter on their items; the effects of business and fiscal circumstances; difficulties linked to integrating currently got corporations; capacity and supply constraints or difficulties; product construction, commercialization or technological difficulties; the regulatory change ambiance; hazards associated with strange currency echange; uncertainties linked to criminal proceedings; the market's acceptance of the company's new items and aggressive responses to these new products; the repercussion of alterations to U.S. change and tariff guidelines; and the haphazard factors special now and again in the business's SEC studies. In light of the dangers and uncertainties, there will too subsist no assurance that any forward-looking observation will, in fact, prove to subsist suitable.

    We undertake no duty to update or revise any ahead-searching statements. They may additionally additionally debate non-GAAP consequences sum through this call and reconciliations of their GAAP results to non-GAAP outcomes had been blanketed in their release. And just before turning the call again to Dan, I simply wanted to supply everybody a heads up that their EBITDA reconciliation table in their long-established free up become wrong. there were mistakes in that table and a new free up is coming out.

    So please shave aside that initial table. So this is the third desk, which is on web page 7 of the unlock.

    Dan Bernstein -- President and Chief govt Officer

    thank you, Lynn. before going through the financials, i exigency to give a short update on how the organizations did from an operational standpoint this quarter and what they note going ahead. overall, we're very completely satisfied that they closed the year with a different stout quarter, bringing their 2018 earnings to $548 million, their better revenue year seeing that 2015. more importantly, their web salary for the yr of $21 million became the optimum in over a decade.

    earnings during the fourth quarter had been $142.7 million, up 19% from the fourth quarter of 2017 with double-digit boom in each and every of the 3 main product strains. Their backlog of orders remained powerful at $171.2 million at December 31, 2018, an augment of 17% from a yr in the past. The boost in backlog is too seen across each and every of their most notable product businesses, which is a superb barometer for various future boom. and searching through on the replete yr.

    Our Magnetic solutions group closed the 12 months with $24.four million raise in income over 2017 degrees led by means of tall exact for their built-in connector modules which are utilized in subsequent-technology switching applications. earnings of their symptom Transformer products had been too astounding during 2018 as new programs with scientific and industrial applications moved into replete construction. we've additionally expanded the presence of their magnetic products via their distribution channels, which add to the 12 months-over-12 months revenue increase. The backlog of orders from magnetic items grew by $9.7 million or 28% raise seeing that the 2017 yr-conclusion.

    Our Connectivity options group had yr-over-year income boom of $sixteen.four million. Their Cinch enterprise improved revenue by using $eight.2 million in comparison to 2017 led with the aid of mighty exact for optical and copper products utilized in encryption, communication and haphazard detection radar functions. Their Stewart passive connectors too saw augment in income of $8.2 million from 2017 as more suitable fiscal conditions within the construction business led to tall exact for their premise wiring customs throughout the 12 months. The Cinch and Stewart enterprise additionally capitalize from extraordinary boom in earnings via their distribution channel in 2018.

    overall, the backlog of orders for their Connectivity products grew by $7.eight million, or 16%, considering 2017 year-end degrees. Their energy solutions and insurance policy community had a turnaround year as earnings boom of $15.8 million from 2017 led this community to its first 12 months of income boom considering that 2015. except for the outcomes of their NPS divestiture, sales for this community had been up $21 million or 14% from final year, driven via continued exact for their vigour elements in compass of statistics core applications. sales of their DC to DC and circuit protection products additionally grew in 2018, offset by a decline well-known for their customized modules.

    The backlog of their orders for their power solutions and coverage group is up $7.1 million or eleven% from 2017 12 months-end ranges. From a profitability standpoint, overseas change gracious points and a gracious adjustment draw the transition tax out to mitigate the bigger labor and material fees that impacted their final analysis this year. They continue to grasp pricing company as they work through their larger cost stock on conclusion. concerning the tariffs that hold been implemented in 2018, they evaluate that approximately 10% of their consolidated annual revenues are at present impacted.

    At this element, the majority of those fees were passed along to their valued clientele within the sort of bill cost. They proceed to array screen the circumstance closely as they approach the tentative March 1 time limit for the U.S. accomplishing an excellent contend with China in sum experience extra raises on existing tariffs. overall, they continue to subsist cautiously optimistic with the persevered income boom and profitabilities as they enter 2019.

    And with that, i might flip it over to Craig to race through the fiscal replace.

    Craig Brosious -- vice chairman of Finance

    Thanks, Dan. To provide a short recap on revenue. earnings during the fourth quarter had been $142.7 million. via geographic segment, North the us income had been $70.3 million, Asia revenue had been $49.1 million and Europe were $23.3 million.

    through product neighborhood, Connectivity solutions revenue hold been $46.4 million, Magnetic options revenue had been $forty eight.6 million and dash solutions and insurance policy sales had been $forty seven.7 million. obscene earnings margin increased to 21.3% within the fourth quarter of 2018 as compared with 18.5% in the fourth quarter of 2017 as incremental sales in 2018 resulted in superior mounted cost absorption offsetting larger labor prices during the 12 months. in addition, their obscene income margin sum over the fourth quarter of 2017 hold been impacted through stock-linked expenses totaling $2 million in reference to holding their stock on the lessen freight or internet realizable price. Their promoting, widespread and administrative costs had been $22.2 million or 15.6% of sales as in comparison with $21.1 million or 17.6% of sales in the fourth quarter of 2017.

    whereas the boost in SG&A charges throughout the 2018 duration $900,000 pertains to a decline in market cost of their COLI guidelines, which became in response to the accepted stock market activity sum over the fourth quarter of 2018. they now hold already sum started to peer this transpose in 2019. other offsetting factors that affected that the variance within the fourth-quarter durations hold been larger felony and professional prices of $800,000 offset by passage of a lower in unhealthy debt rate of $500,000 and a discount in depreciation and amortization of $400,000. On a go-ahead groundwork, they might await SG&A to race between $20 million and $21 million per quarter in the nigh time period, barring any significant fluctuations in strange exchange.

    as a result of these factors, they generated earnings from operations of $eight million within the fourth quarter of 2018 as compared to $1 million in the fourth quarter of 2017. hobby rate changed into -- i'm sorry, $1.4 million in the fourth quarter of 2018, down $900,000 from the identical length eventual 12 months. if you remember, they refinanced their credit compress within the fourth quarter of 2017, which ended in an acceleration of deferred financing can freight amortization of $1 million sum through the ultimate 12 months's fourth quarter. Their provision for revenue taxes became $2.four million for the fourth quarter of 2018 in comparison to $19.2 million throughout remaining 12 months's fourth quarter.

    the provision for salary taxes sum over the fourth quarter of 2018 was unfavorably impacted through taxes on international income, the GILTI tax, partially offset through a lower in the U.S. tax fee from 35% to 21% in 2018. the availability for earnings taxes in 2017 length included an $18 million hold an repercussion on from the U.S. Tax Cuts and Jobs Act, which changed into enacted on December 22, 2017.

    income per share for classification a typical shares became $0.31 per share within the fourth quarter of 2018 as in comparison with a loss of $1.sixty six per share in the fourth quarter of 2017. revenue per share for sort B general shares turned into $0.33 per share within the fourth quarter of 2018 as in comparison with the lack of $1.74 per share in the fourth quarter of 2017. On a non-GAAP groundwork, which excludes unavoidable extraordinary and different nonrecurring objects, EPS for sort A shares turned into $0.37 per share in the fourth quarter of 2018 as compared with the lack of $0.09 per share within the fourth quarter of 2017. On a non-GAAP groundwork, EPS for sort B shares changed into $0.39 per share within the fourth quarter of 2018 as in comparison with a loss of $0.10 per share within the fourth quarter of 2017.

    And now i want to ebb through some steadiness sheet and cash circulation gadgets. Their money and cash equivalents stability at December 31, 2018, turned into $fifty three.9 million, a reduce of $15.4 million from December 31, 2017. throughout 2018, they made payments of $9 million towards their impressive debt stability. They additionally used cash for capital expenses of $11.6 million, dividend payments of $3.three million and hobby payments of $4.eight million.

    debts receivable were $91.9 million at December 31, 2018 as compared with $78.eight million at December 31, 2017. Days revenue striking had been fifty nine days at December 31, 2018, in comparison to 60 days at December 31, 2017. The boost in bills receivable stability was mostly due to the better sales quantity in the fourth quarter of 2018 as in comparison to the fourth quarter of 2017. Inventories were $a hundred and twenty.1 million at December 31, 2018, up $12.3 million from December 31, 2017.

    In January of 2018, they adopted the brand new revenue consciousness typical, which quickens the timing through which they profits changed into recognized and the corresponding free up of finished goods from their stock stability concerning products held at consumer control hubs. except for the results of this adoption, their inventory stability would hold expanded with the aid of $23.4 million from December 31, 2017, basically raw materials and work-in-development according to the raise favourite for their products in 2018. debts payable had been $56.2 million at December 31, 2018, up $8.2 million from its level at December 31, 2017 due to the raise in uncooked cloth purchases. Bel's total outstanding debt turned into decreased via $744,000 throughout the fourth quarter, bringing the steadiness sum the passage down to $116 million as of December 31, 2018, with the exception of deferred financing cost.

    booklet cost per share, which is calculated as stockholders' fairness divided with the aid of their combined A and B classes of accustomed stock miraculous, became $14.39 per share at December 31, 2018 as in comparison to $13.13 per share at December 31, 2017. And now i want to prove the call returned to Dan and open the call for questions.

    Dan Bernstein -- President and Chief executive Officer

    sure. can they open up the call for questions, please, Allison? 

    Questions and answers:

    Operator

    certainly, sir. [Operator instructions] they will now seize their first query from Sean Hannan from Needham & enterprise. please ebb ahead, sir.

    Sean Hannan -- Needham and enterprise -- Analyst

    sure. Thanks. gracious morning, each person. Dan, i was looking to note if I might exact you may provide us with a bit minute bit of detail across the section.

    i know you offered some in your prepared comments. can you perhaps acquire into a minute bit more specificity in terms of how hold been you ardor with each of these facet these days and the actions they ramp birthright here in the first quarter and in '19. and perhaps how that can too hold alternate or might subsist diverse versus what you hold been expecting possibly simply a brace of months in the past? Any insight there can subsist very beneficial. Thanks.

    Dan Bernstein -- President and Chief govt Officer

    good enough. Of course, sum of their product organizations and sum the subdivisions inside the product businesses, a majority, i would say, 80% of sum were very effective. they hold one community, is the Modular neighborhood and the DC to DC community out of Italy that hold some gigantic shoppers that they lost, but that hasn't been anything else to Do with the market conditions simply on account of the condition with these valued clientele. So benchmark everything has been, as you understand, extraordinarily positive.

    Going into this quarter and subsequent quarter, January turned into a really -- they saw a powerful January, and again, they feel they don't note any changes within the first quarter. The most effective concerns that they Do hold is there are some IC companies that are seeing some softening available in the market and they Do hear some rumblings that there can subsist too plenty stock in the pipeline. however so far it has now not affected their earnings or backlog. So once again, it truly is why I assume we're a minute bit tall trait for the primary quarter and as an example, I suppose nigh out after that.

    Sean Hannan -- Needham and enterprise -- Analyst

    good enough. equitable satisfactory. Now as they look to subsist into the vigour group, it is certainly always a matter matter on every call. there is a lot that you've finished when it comes to correcting the exceptional concerns from one of the acquisitions you've got taken on, there is plenty you've been doing to step-up executions, lots that you've completed in incrementally profitable new designs and into new courses a few of which has been getting some momentum.

    and i regard you pointed out that a bit bit prior these days. What extra should quiet they await in the trajectory of these organizations? Is there anything within the background it is incrementally being worked down or is available a bogey that may accelerate the augment trajectory that you're now setting into these days? Or how may quiet they believe about how this proceed to augment as a product segment for you? Thanks.

    Dan Bernstein -- President and Chief government Officer

    ok. So the dash neighborhood, once again, as they mentioned over the closing two or three years, they regard very strongly that has the most useful growth potential for Bel from a desirable-line standpoint. On the vigour, they did hold is after they bought the company outdated administration truly didn't focus on first-rate and consumer provider. And it took us a very long time to change that; a, first trade their manufacturing unit then exchange the client opinion, and over the past 18 months, they now hold sum their consumers are again and believe Bel to subsist an influence organization.

    I believe two things that they hold achieved that we've got changed lately. One became, I feel, as they were so desperate for revenue, they took a shotgun strategy and truly build sum restrain on their R&D neighborhood without getting the classification of results that they might like. So what they hold finished is, truly long past from a noteworthy deal greater chosen approach of what customers you are looking to cope with, how they lucky into us and may they subsist lengthy-term clients? With that referred to, they are streamlining their R&D community as a result of they wouldn't hold to ebb with the southbound approach, they recognize what exactly engineers they should cheer these products as they circulate forward. the key hardship now is that they Do hold two or key key consumers that may ebb anywhere from $eight million to $12 million, $13 million.

    And once we're speaking about facts center-category of client, they Do hold huge client classification of shoppers. again, those fluctuate very colossal from a income standpoint. once more, although, they Do regard that we've placed ourselves a lot more within the market, and at the instant I regard we've 90 NDA signed on high-effectivity motors and we're starting to note that business ebb from $3 million to $5 million. So we're hoping that might double once again, gives us a lot more diversification, and they are working with different data hub classification of valued clientele.

    So they acquire that extra various. So once more, we're nonetheless taking pictures. Their purpose has sum the time been to acquire energy to that constant 10% growth over a two to a few-year duration.

    Sean Hannan -- Needham and company -- Analyst

    ok. it's advantageous. after which final query birthright here. just to note if i can acquire some standpoint round a customer of yours without delay or in some way.

    Huawei, I remember you are not necessarily even a 5% consumer, however can you debate how Do they play into your business traditionally? And is there anything that they should retain in reason of brooding about that relationship or earnings technology and perhaps by some means tied to them on a go-forward foundation? Thanks.

    Dan Bernstein -- President and Chief govt Officer

    well, I believe, again, being a chinese enterprise, I regard they attend to ebb along with chinese providers in China. i know, as an example, they sold their power deliver neighborhood to Emerson about six years ago, and now former Huawei people hold their personal vigour provide enterprise. So they are conscious of it's a troublesome nut to crack. They Do some ICM company, but not giant at all.

    And for us, it would subsist a robust improvement as a result of they assume people dote Nortel, Cisco should prefer up the enterprise that they're losing. So i know there are unavoidable nations, Czech Republic, even Canada and the U.S. how they view Huawei going forward. And that they can't purchase outfit from Huawei for 5G, they're going to doubtless ebb with -- I didn't imply Nortel, I execute an apology, Nokia, that Nokia and Cisco will likely pick upon up that slack and perhaps Alcatel, and these multinational non-chinese purchasers they Do monstrous quantity of company with them.

    So we're hoping that their company should raise as more and more 5G is added.

    Sean Hannan -- Needham and enterprise -- Analyst

    Very good. Thanks so a lot, individuals.

    Operator

    [Operator instructions] And they will now seize a question from Hendi Susanto from G. research. please ebb ahead.

    Hendi Susanto -- G. analysis -- Analyst

    respectable morning. Dan, you commute to China a noteworthy deal. How Do you symbolize your China market now? How distinctive is it in comparison to a benchmark 12 months?

    Dan Bernstein -- President and Chief executive Officer

    We sum the time -- for us -- during the area, I suggest, Europe and China there's so a gracious deal mistrust and how they agree with in Donald Trump and the job he is doing. there's significant amount of anxiousness. For us again, for the China market, it's sum the time been very intricate to smash into that market as a result of the pricing parameters that you hold selling to, again, a chinese consumer. despite the fact, a fine component can subsist 35% of their sales ebb to China, but it goes through the CEM just dote the Flextronics or Hon Hai, Foxconn, and people are non-chinese language agencies.

    however, they Do -- we're nascence to note more individuals examine China in a special mild. They comprehend the ODMs in Taiwan, they hold got majority of their construction in China. They at the instant are relocating some of that construction back into Taiwan. They note different multinationals touching items around to acquire around the tariffs.

    So if you hold production in Malaysia, employ that for sum products coming to the States and then you employ your China construction to ebb into Europe and the a long passage East market. however once again, no person likes mistrust and that without question with the tariffs there's colossal volume of uncertainties and that's now not gracious for anyone.

    Hendi Susanto -- G. research -- Analyst

    received it. and then Dan, given solid revenue boom and your backlog boom in 2018 and existing ERP implementation, how an poor lot improvement in obscene margin and working margin they should are expecting in 2019?

    Dan Bernstein -- President and Chief government Officer

    i will leave that to my accounting community here.

    Craig Brosious -- vp of Finance

    sure. I suppose assuming the low-priced revenue augment that we're expecting, moderate earnings growth, I regard they now hold some leverage means to snap the obscene margin as much as possibly a degree, point and a half. once again, lots of their creation costs are based in the -- in China and depending on which approach the change agreements go, it might hold an repercussion on the alternate prices that they should contend with on the freight of that -- on the labor costs, exceptionally. So barring any tremendous strikes in these change prices, they now hold opportunities to expand margins a minute bit.

    Hendi Susanto -- G. research -- Analyst

    and then an extra query on cost. So I suppose Bel Fuse is coping with boost in labor cost, and that i suppose that has been there for a while after which you hold been mitigating or taking actions or extended your labor can charge. when they ebb through dote 2019, when will they examine on an apple-to-apple yr-over-yr comparison with reference to the labor can charge? And dote how -- and then subsist sure to subsist in a position to quantify how a total lot labor freight turned into?

    Craig Brosious -- vice president of Finance

    I regard they -- to acquire to an apples-to-apples comparison, they are able to likely exigency to acquire in the third quarter of this yr as a result of they had freight raises going into consequence in the first and 2d quarters of 2018. So I believe once they acquire to the third quarter, they acquire some not pricey comparatives.

    Lynn Hutkin -- Director of fiscal Reporting

    The best component so as to add there is, in 2019, they are additionally experiencing accelerated labor freight in Mexico on the passage to influence the 2019 period, however become now not there sum over the 2018 period. So they now hold that as well.

    Hendi Susanto -- G. analysis -- Analyst

    adequate. and then nearly sum of the tariff freight has been handed to purchasers. are you able to quantify how a total lot has been handed and what's subsequent?

    Dan Bernstein -- President and Chief govt Officer

    I assume it's been about $7.eight million, in that latitude.

    Lynn Hutkin -- Director of monetary Reporting

    In 2018, it turned into about $2.four million, in complete for 2018, so that became a partial -- that changed into a partial 12 months.

    Craig Brosious -- vp of Finance

    So dote Dan had outlined up to now, most of their income at the least popping out of China don't turn out to subsist at once into the U.S. So we're no longer enormously impacted via the tariffs. So they had been in a position to -- truly $2.5 million or so that they needed to add.

    Hendi Susanto -- G. research -- Analyst

    good enough. got it. thank you.

    Operator

    [Operator instructions] It appears there are no additional questions. Mr. Bernstein, i would dote to turn the call again to you for any further or closing remarks.

    Dan Bernstein -- President and Chief government Officer

    thank you for joining us nowadays, and they look to subsist to chatting with you sooner or later. thanks for your time.

    Operator

    [Operator signoff]

    duration: 29 minutes

    call participants:

    Dan Bernstein -- President and Chief govt Officer

    Lynn Hutkin -- Director of monetary Reporting

    Craig Brosious -- vp of Finance

    Sean Hannan -- Needham and business -- Analyst

    Hendi Susanto -- G. analysis -- Analyst

    extra BELFB analysis

    this text is a transcript of this convention call produced for The Motley fool. whereas they attempt for their foolish top of the line, there can subsist mistakes, omissions, or inaccuracies during this transcript. as with every their articles, The Motley idiot doesn't matter on any responsibility on your employ of this content material, and they strongly inspire you to Do your own research, including taking note of the title your self and studying the company's SEC filings. please note their phrases and prerequisites for extra details, including their obligatory Capitalized Disclaimers of legal responsibility.

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    These certifications test the means to build into effect, operate, and troubleshoot the Symposium categorical title center. each certifications cowl hardware, utility installation, administration, and protection of Symposium categorical call core four.2. despite the fact, the Symposium specific title hub certification too exams the structure and integration of the title core. To circulate both of the certifications, one exam exigency to subsist efficiently accomplished: Symposium categorical call middle or Symposium express call core Inst and Maint respectively.

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    This certification exams the means to build in force, function, and troubleshoot the VoIP Multimedia communique Server (MCS) 5100 2.0. This certification covers setting up of the hardware and application, configuration, protection, and management of the Multimedia conversation Server (MCS) 5100 2.0. To current the certification, two checks should subsist correctly achieved: technology requirements and Protocols for IP Telephony options, and VoIP Multimedia communique Server (MCS) 5100 2.0. The expertise necessities and Protocols for IP Telephony options exam is an overview of convergence applied sciences.

    NNCSS - VoIP Succession one thousand/1000M Rls. 3.0 DB Administrator

    This certification tests the capability to maintain and troubleshoot the VoIP Succession a thousand/1000M Rls. 3.0 DB Administrator. This certification covers the architecture, configuration, protection, and administration of the Meridian 1, Succession 1000 Rls. 3.0, and Succession 1000M Rls. 3.0 using basic Alternate Route alternative (BARS) and network Alternate Route option (NARS). To snap the certification, two tests hold to subsist correctly completed: know-how requisites and Protocols for IP Telephony options, and Succession one thousand/1000M Rls. 3.0 DB Administrator.

    NNCSS - VoIP Succession 1000/1000M Rls. three.0 installation and preservation

    This certification checks the capability to install, configure, and preserve the VoIP Succession one thousand/1000M Rls. 3.0. This certification covers the setting up, structure, configuration, preservation, and management of the Meridian 1, Succession 1000 Rls. 3.0, and Succession 1000M Rls. three.0, information superhighway Telephones i2xxx, and Optivity Telephony supervisor (OTM) 2.1. To circulate the certification, three exams exigency to subsist efficiently achieved: know-how necessities and Protocols for IP Telephony options, and Succession one thousand/1000M Rls. three.0 for Technicians, and Succession 1000/1000M Rls. 3.0.

    aid professional

    The aid skilled certifications build on the specialist's expertise with the aid of demonstrating their skill to build into effect, function, and troubleshoot an superior Nortel Networks IP Telephony answer. The support skilled certifications mirror a candidate with six to 12 months of arms-on adventure with the means to steer or support intermediate-degree personnel to retain complex Nortel IP Telephony options.

    NNCSE - CallPilot 2.0 Unified Messaging options

    This certification checks the potential to build in force, operate, troubleshoot and optimize the VoIP CallPilot Unified Messaging reply 2.0. This certification covers the setting up, administration, interoperability, safety, upgrade strategies and hold utilization for a multi website CallPilot device. To pass the certification, the candidate should first attain their NNCSS - CallPilot Rls. 2.0. due to this fact, the CallPilot 2.0 Unified Messaging options ought to subsist effectively accomplished to reap this certification.

    NNCSE - Contact middle

    This certification checks the capability to build in force, operate, troubleshoot and optimize the Contact hub items. This certification covers the candidate's capabilities on the Symposium title middle Server (SCCS)/Symposium express title center/Symposium net customer, Symposium TAPI provider provider (TAPI SP), Symposium Agent, and the Symposium internet core Portal. To pass the certification, the candidate should first achieve their NNCSS - Symposium call core Server and the NNCSS - Symposium title core TAPI/Agent certification. in consequence, the Contact hub exam ought to subsist efficaciously completed to reap this certification.

    NNCSE - IP Convergence Succession one thousand/1000M Rls. three.0

    This certification checks the means to install, configure, hold, and optimize the VoIP Succession one thousand/1000M Rls. 3.0. This certification covers the configuration, succession department office (BO), far flung office, operation, and Meridian 1 to Succession 1000M three.0 migration methods for the Succession 1000/1000M Rls. three.0, information superhighway Telephones i2xxx, remote office 91xx, and Optivity Telephony manager (OTM) 2.1. To snap the certification, the candidate ought to first achieve their NNCSS - VoIP Succession CSE a thousand Rls. 2.0 or the VoIP Succession 1000/1000M Rls. three.0 installing & protection certification. in consequence, yet another extra elaborate version of the Succession a thousand/1000M Rls. three.0 exam must subsist successfully completed to reap this certification.

    within the IT trade, certifications are a means to validate a person's abilities inside a designated area. The above Nortel IP Telephony certifications are one of the crucial tools that can prove the capabilities of an IP Telephony aid skilled. These certifications could not change years of industry experience, but they Do give the basis to support and exploit Nortel Voice over IP options.

    The subsequent tip will focus on Nortel's Design IP Telephony certification music.

    Richard Parsons (CCIE#5719) is a manager of expert capabilities for Callisma Inc., a wholly owned subsidiary of SBC. He has developed a solid foundation in networking ideas, superior troubleshooting, and monitoring in areas akin to optical, ATM, VoIP, routed, routing, and storage infrastructures. moneyed resides in Atlanta GA, and is a graduate of Clemson university. His heritage comprises senior and major consulting positions at international community services, Lucent, and Callisma.


    Bel Fuse Inc. (BELFB) CEO Daniel Bernstein on this autumn 2018 effects - revenue title Transcript | killexams.com actual Questions and Pass4sure dumps

    No outcome found, try new key phrase!Bel Fuse Inc. (NASDAQ:BELFB) this autumn 2018 results profits convention title February 21 ... subsist a stout edge because they regard americans dote Nortel, Cisco should select up the company that they're ...

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    Telecom Argentina S.A. announces consolidated results for the annual epoch ('FY17') and fourth quarter for fiscal year 2017 ('4Q17') | killexams.com actual questions and Pass4sure dumps

    BUENOS AIRES, Argentina, March 7, 2018 /PRNewswire/ --

  • Consolidated Revenues amounted to P$65,186 million (+22.4% vs. FY16); Service Revenues reached P$56,971 million (+25.6% vs. FY16); Fixed Voice Services and Internet Services +41.5% and +28.7% vs. FY16, respectively; and Mobile Services in Argentina +22.2% vs. FY16.
  • Mobile subscribers in Argentina: 19.0 million in FY17.
  • Mobile Internet in Argentina +57.4% vs. FY16; 49.7% of Service Revenues.
  • Mobile ARPU in Argentina increased to P$142.3 per month in FY17 (+26.8% vs. FY16).
  • ADSL ARPU raised to P$359.6 per month in FY17 (+32.7% vs. FY16); monthly churn reached 1.4% in FY17.
  • Consolidated Operating costs -including D&A and disposals and impairment of PP&E- totaled P$53,207 million (+17.0% vs. FY16).
  • Operating Income before Depreciation and Amortization ('EBITDA') reached P$19,356 million (+34.2% vs. FY16), 29.7% of consolidated revenues.
  • Net Income amounted to P$7,724 million (+92.9% vs. FY16). Net Income attributable to Telecom Argentina amounted to P$7,630 million (+91.9% vs. FY16), influenced by the growth in EBITDA and better fiscal results.
  • Capex reached P$11,143 million in FY17, equivalent to 17.1% of Consolidated Revenues.
  • Net fiscal Debt Position: P$3,260 million, an improvement of P$2,632 million vs. FY16, mostly due to an augment in operating cash flow.
  •  

     (in million P$, except where noted)

    As of December, 31

    2017

    2016

    Δ $

    Δ %

    Consolidated Revenues

    65,186

    53,240

    11,946

    22.4%

                Mobile Services

    44,726

    38,226

    6,500

    17.0%

                Fixed Services

    20,460

    15,014

    5,446

    36.3%

    Operating Income before D&A  

    19,356

    14,424

    4,932

    34.2%

    Operating Income

    12,112

    7,843

    4,269

    54.4%

    Net Income attributable to Telecom Argentina

    7,630

    3,975

    3,655

    91.9%

    Shareholders' equity attributable to Telecom Argentina  

    23,086

    19,336

    3,750

    19.4%

    Net fiscal Position - (Debt) / Cash

    (3,260)

    (5,892)

    2,632

    -44.7%

    CAPEX (excluding spectrum)

    11,143

    11,386

    (243)

    -2.1%

    Fixed lines in service (in thousand lines)

    3,795

    3,920

    (125)

    -3.2%

    Mobile customers (in thousand)

    21,430

    22,052

    (622)

    -2.8%

                Personal (Argentina)

    18,980

    19,514

    (534)

    -2.7%

                Núcleo (Paraguay) -including Wimax customers-

    2,450

    2,538

    (88)

    -3.5%

    Broadband accesses (in thousand)

    1,744

    1,738

    6

    0.3%

    Average Billing per user (ARBU) Fixed Telephony / voice  (in P$)

    152.3

    97.9

    54.4

    55.5%

    Average Revenue per user (ARPU) Mobile Services in Arg. (in P$)

    142.3

    112.3

    30.0

    26.8%

    Average Revenue per user (ARPU) ADSL (in P$)

    359.6

    270.9

    88.7

    32.7%

    Telecom Argentina S.A. ('Telecom Argentina') - (NYSE: TEO; BASE: TECO2), one of Argentina's leading telecommunications companies, announced today a Net Income of P$7,724 million for the annual epoch ended December 31, 2017, or +92.9% when compared to FY16. Net income attributable to Telecom Argentina amounted to P$7,630 million (+P$3,655 million or +91.9% vs. FY16).

    During FY17, Consolidated Revenues increased by 22.4% to P$65,186 million (+P$11,946 million vs. FY16), mainly driven by Fixed Voice Services, Fixed Internet Services and Mobile Services in Argentina. Moreover, Operating Income reached P$12,112 million (+P$4,269 million or +54.4% vs. FY16).

    Consolidated Operating Revenues

    Mobile Services

    As of December 31, 2017, mobile clients amounted to 21.4 million.

    Third Parties Revenues amounted to P$44,726 million (+17.0% vs. FY16), of which the services revenues represented P$37,174 million (+22.2% vs. FY16). The commercial strategy was focused on the innovation, which promotes the consumption of mobile internet services through an updated present of plans suitable for sum market segments. 

    Personal in Argentina

    As of December 31, 2017, Personal reached 19.0 million subscribers in Argentina, where postpaid clients represented 35% of the subscriber base.

    In FY17, Third Parties Revenues reached P$41,797 million (+P$6,197 million or +17.4% vs. FY16) while Service Revenues (excluding outfit sales) amounted to P$34,289 million (+22.2% vs. FY16), with 49.7% corresponding to mobile internet revenues (vs. 38.6% as in FY16), as Mobile Internet Revenues amounted to P$17,048 million (+57.4% vs. FY16). Revenues from Outbound Mobile Services reached P$29,980 million (+20.6% vs. FY16), mainly due to cost increases in postpaid client segments and, to a lesser extent, due to the increases in the amount of online recharges of prepaid subscribers. Meanwhile, Revenues from Inbound Mobile Services amounted to P$2,710 million (+58.4% vs. FY16), augment that was mainly generated by cost increases in CPP and TLRD. In addition, outfit sales decreased by 1.2% vs. FY16, reaching P$7,446 million, equivalent to 17.8% of total revenues.

    The equitable monthly revenue per user ('ARPU') amounted to $142.3 during FY17 (+26.8% vs. FY16).

    Commercial Initiatives

    Following the changes in customer consumption and working towards proposals focused on higher availability of data, Personal developed 'Gigas compartidos', the first present of plans in the Argentine market which allows the sharing of data included in the plot between different mobile lines. Likewise, the proposal of free Whatsapp usage for customers who recharge credit continued, becoming a benchmark for the industry.

    At the same time, the promotion of the update of their clients' devices with discounts and special financing continued, with a stout focus on e-commerce marketing. In this framework, Personal participated in the Cyber Monday 2017 where customers could access to 4G devices with discounts of up to 50% and 18 installments without interest.

    As piece of the actions associated with the brand positioning within the youth segment, Personal and Huawei presented the 12th edition of 'Personal Fest 2017', where over 50,000 people enjoyed during two days music and outdoor entertainment, while more than 1.2 million followed it via streaming.

    Personal in Paraguay ('Núcleo')  

    As of December 31, 2017, Núcleo's subscriber groundwork reached around 2.5 million clients. Prepaid and postpaid customers represented 83% and 17%, respectively.

    Núcleo generated revenues from Third Parties equivalent to P$2,991 million during FY17 (+13.2% vs. FY16). Internet revenues amounted to P$1.294 million (+32.3% vs. FY16) representing 44.9% of FY17 service revenues (vs. 41.1% in FY16).

    Fixed Services (Voice, Internet and Data)

    During FY17, Revenues generated by Fixed Services reached P$19.797 million, +32.7% vs. FY16; with Voice revenues increasing by +41.5% vs. FY16, mainly due to cost increases in monthly fees. Meanwhile, Internet revenues grew by +28.7% vs. FY16 and Data Revenues were up by +22.5%.

    Voice

    Total Voice revenues reached P$8,505 million in FY17 (+41.5% vs. FY16). This augment was mainly explained by monthly fee cost increases that came into consequence for both corporate and residential fixed line customers, and additionally due to the bundled present of packs that comprehend voice and internet services ('Arnet + Voz'), that direct to achieve higher levels of customer loyalty and churn reduction.

    As a result, the equitable monthly revenue billed per user ('ARBU') reached P$152.3 in FY17, +55.5% vs. FY16.

    Internet

    As of December 31, 2017, Telecom Argentina reached more than 1.7 million ADSL accesses. These connections represented 46.0% of Telecom's fixed lines in service. Additionally, ADSL ARPU reached P$359.6 per month in FY17, +32.7% when compared to FY16, while the equitable monthly churn rate for the epoch reached 1.4% in FY17 vs. 1.7% in FY16. Clients with service of 15Mb or higher currently portray 20% of the total customer groundwork as of FY17

    Data

    Data revenues (services mainly offered to Corporate customers, SMEs, Government and to other operators) amounted to P$3,577 million (+P$658 million or +22.5% vs. FY16), generated in a context that evidence the stout position of Telecom as an integrated ICT provider. This augment was mainly driven by FX rate variations that affected those contracts that were adjusted by the $/U$S exchange rate and due to the augment in the number of clients.

    Telecom continues to evolve its portfolio of security services with the PenTest service, a utensil that seeks to assess the security level of a company's computer systems, identifying vulnerabilities in its network infrastructure in the front of growing companies' concerns to safeguard faultfinding information for their businesses.

    Moreover, as piece of its connectivity strategy for corporate clients, it was developed 'Integra 4G', a solution that provides Internet access using the resources of the 4G/LTE Personal mobile network, that can subsist used in a transitory mode (access that allows a temporary connection to Internet to subsist used in cases of extended provision times) as well as back up (allows providing an Internet access to support the main service).

    Consolidated Operating Costs

    Consolidated Operating Costs totaled P$53,207 million in FY17, an augment of P$7,727 million, or +17.0% vs. FY16 (including 'Disposals and impairment of PP&E' that resulted in a loss of P$316 million in FY17 vs. a loss of P$383 million in FY16). Continuing with the trend observed during the lasts quarters, this overall augment is below inflation levels and moreover Revenue growth, which allowed a significant augment in the Company's EBITDA and to ameliorate its margin. This was a result of a higher level of efficiency in the cost structure. Higher costs are mainly associated to the consequence of higher revenues, a highly competitive environment in the mobile and Internet businesses, the repercussion of higher direct and circuitous labor costs generated by the operations in Argentina, the augment in fees for services related to cost adjustments in supplier contracts, increases in taxes and in provisions. These increases were partially offset by lower VAS (Value Added Services) costs, commissions, and nefarious debt expenses, among others.

    The cost breakdown is as follows:

    - Employee capitalize expenses and severance payments totaled P$12,718 million (+29.8% vs. FY16), mainly impacted by increases in salaries to unionized and non‐unionized employees together with the associated convivial security contributions. In addition, severance indemnities and termination benefits experienced a rise of +P$423 million or +81% vs. FY16. Finally, total employees at the terminate of FY17 amounted to 15,396.

    - Interconnection costs and other telecommunication charges (including TLRD, Roaming, Interconnection, international settlement charges and lease of circuits) amounted to P$3,148 million, +23.3% vs. FY16. This augment resulted mainly from higher costs related to TLRD due to cost increases, partially offset by lower roaming costs.

    - Fees for services, maintenance, materials and supplies amounted to P$6,600 million (+31.8% vs. FY16), mainly due to greater expenses in fixed telephony and broadband connections and to higher costs in software maintenance in the fixed segment and systems' licenses in the mobile segment. There were too increases in costs associated with fees for services, mainly related to call centers and higher costs recognized to suppliers in both mobile and fixed segments.

    - Taxes and fees with regulatory authorities reached P$6,107 million (+19.2% vs. FY16), impacted mainly due to the augment in fixed and mobile services revenues, and therefore the augment in turnover tax, as well as higher bank debit and credit taxes related to collection flows and payments to suppliers, partially offset by lower fees with the regulatory authorities.

    - Commissions (Commissions paid to agents, prepaid card commissions and others) totaled P$3,631 million (-5.7% vs. FY16). The lessen in commissions (before SAC capitalization, P$4,617 million in FY17 vs. P$5,252 million in FY16) is mainly due to a reduction in commissions paid to commercial channels, thanks to a more efficient new agent compensation model, and a reduction in collection commissions, CPP and other fees. Agent commissions capitalized as SAC amounted to P$986 million (-29.7% vs. FY16), being this reduction related to a lower level of additions.

    - Cost of handsets sold totaled P$6,684 million (+8.0% vs. FY16), this augment was mainly due to greater outfit sales in the fixed segment as a consequence of the implementation of unavoidable projects, and in the mobile segment due to higher costs per device partially offset by a reduction in the quantity of handsets sold, given the modification in strategy where the application was centered more in the change of devices in order to achieve higher mobile plans upselling and less on capture operations. Deferred costs as SAC amounted to P$80 million (-38.5% vs. FY16). Lower deferred costs were related to the referred lower quantities of outfit sold during FY17.

    - Advertising amounted to P$1,218 million (+39.4% vs. FY16), due to new advertising campaigns launched by the Company during 2017, and in particular due to higher advertisement in media.

    - Depreciation and Amortization reached P$6,928 million (+11.8% vs. FY16). PP&E depreciation amounted to P$5,039 million (+15.6% vs. FY16) resulting from the incorporation of assets related to the investment plot that the Company has been executing; the amortization of SAC and service connection costs that totaled P$1,524 million (+3.4% vs. FY16); the amortization of 3G/4G licenses that amounted to P$325 million (-3.8% vs. FY16), due to the extension in the duration of the licenses, and the amortization of other intangible assets that reached P$40 million (+42.9% vs. FY16).

    - Other Costs totaled P$6,173 million (+4.9% vs. FY16), of which Provisions expenses reached P$590 million (+215.5% vs. FY16), increasing mostly due to higher labor claims followed by civil and commercial claims during FY17, as well as other operating costs that totaled P$3,280 million, growing by 26.6% vs. FY16 mainly due to the consequence of cost increases in transactions with suppliers in Argentina and the augment in prices of property and site leases, principally due to additions and compress renegotiations. These increases were partially offset by a lessen on VAS costs that totaled P$874 million (-41.7% vs. FY16), due to a redesign in the present of these services.

    Consolidated fiscal Results

    Net fiscal Results totaled a loss of P$486 million, which represented an improvement of P$1,758 million vs. FY16. This was mainly explained by lower losses from net interests of P$529 million in FY17 (+P$954 million vs. FY16), due to lower cost from fiscal liabilities; and in addition, due to greater gains on mutual funds and other investments, which reached P$1.100 million (+P$752 million vs. FY16), driven by higher yields and invested amounts.

    Consolidated Net fiscal Debt

    As of December 31, 2017, Net fiscal Debt Position (Cash, Cash Equivalents plus fiscal Investments and fiscal NDF minus Loans) totaled P$3,260 million, an improvement of P$2,632 million when compared to the Net fiscal Debt as of December 31, 2016, this latter due to a better Company's cash current generation related to  the augment in EBITDA and a greater efficiency in working capital management.

    Capital Expenditures

    During FY17, the Company invested P$11,143 million (-2.1% vs. FY16). Of this amount, P$5,407 million were allocated to Fixed Services and P$5,736 million to Mobile services, focusing on projects that maximize the network capacity and on the evolution of products and services that contribute to address the customers needs that today exact for connectivity and data availability. In relative terms, Capex reached 17.1% of consolidated revenues.

    In terms of infrastructure, during 2017 the Company continued enhancing the evolution of services with the deployment of the Personal 4G/LTE network, together with the technological reconversion of 2G/3G networks, and the deployment of fiber optics to augment home broadband connection. The deployment of 4G reaches 1,173 locations with coverage of 85% of the population of Argentina (94% of the population of capital cities). Also, the deployment of 4G+ services continued to foster throughout the country, thanks to the solution of 4G Carrier Aggregation (use of two simultaneous frequency bands). This benefits their customers with a better service experience and speeds that compass 100 Mbps.

    In this context, the first 4G site in 2.6Ghz spectrum troop was inaugurated, giving coverage to the Hilton Hotel region of Puerto Madero. The deployment of this infrastructure allows the augment of simultaneous traffic capacity of the network, allowing to provide greater connection capacity, besides improving the trait of the mobile data service.

    Relevant Matters

    Merger by absorption of Sofora Telecomunicaciones S.A., Nortel Inversora S.A. and Telecom Personal S.A. into Telecom Argentina S.A.

    On December 1, 2017 at 12:00am, Telecom Argentina absorbed the operations of Nortel Inversora S.A. ('Nortel'), Sofora Telecomunicaciones S.A. ('Sofora') and Telecom Personal S.A. ('Personal') (all together 'The Companies'), in accordance with the prefatory Reorganization Agreement, dated March 31, 2017, and the Final Reorganization Agreement, dated November 13, 2017, pursuant to which The Companies agreed to merge Nortel, Sofora and Personal into Telecom Argentina as the surviving company (the 'Reorganization'). As a result, the Reorganization became effective.

    Additionally, in accordance with the authorization provided by the general Ordinary and Extraordinary Shareholders' Meeting of Telecom Argentina S.A. held on May 23, 2017, on December 15, 2017, 161,039,447 Class 'A' shares hold been converted into an equal number of Class 'B' shares of Telecom Argentina. Moreover, pursuant to the terms of the merger by absorption of Nortel into Telecom Argentina, on December 15, 2017 it was completed the exchange of the Preferred Class 'B' book-entry Shares, with no voting rights and with a nominal value of ten Argentinian pesos ($10.-), each issued by Nortel ('Nortel Preferred B Shares'), for the corresponding book-entry, ordinary, Class 'B' Shares, with one vote per share and with a nominal value of one Argentinian peso, each issued by Telecom Argentina ('Telecom Argentina Class B Shares'). As a consequence, the holders of Nortel Preferred Shares received a total of 197,871,855 Telecom Argentina Class B Shares.

    General Ordinary Shareholders' Meeting of Telecom Argentina held on November 30, 2017 and dividend distribution

    The general Ordinary Shareholders' Meeting held on November 30, 2017 approved the delegation of powers into the Board of Directors of the Company to withdraw up to the amount of 6,940.5 million Pesos from the 'Reserve of Future Cash Dividends' and to systematize the distribution of the withdrawn funds in concept of cash dividends, in one or more installments and in the amounts and dates determined by the Board of Directors. Moreover, the Company's Board of Directors on its meeting held on December 18, 2017 and in accordance to the powers delegated to it by the aforementioned Shareholders' Meeting, decided to withdraw the amount of P$4,150,312,272 of the 'Reserve for Future Cash Dividends' and to deal such amount as cash dividends, that were made available to Shareholders on December 29, 2017.

    Merger by Absorption between Telecom Argentina S.A. (the Surviving Company) and Cablevisión S.A. (the Absorbed Company) - ENACOM´s approval

    On December 22, 2017, Telecom Argentina S.A. was notified of Resolution No° 5,644-E/2017, by which the Ente Nacional de Comunicaciones ('ENACOM') resolved:

    1- SECTION 1.- The company CABLEVISIÓN S.A. is hereby authorized to transfer in favour of the company TELECOM ARGENTINA S. A. the Broadcasting Registry by physical and / or radioelectric link, including the permissions / frequencies necessary for the provision of the broadcasting service by subscription through radioelectric link, as well as the authorizations of areas for the provision of those services (physical and radioelectric link), which may operate in region II, defined in accordance with the provisions of Decree No. 1,461/93 and its amendments, and in the cities of Rosario, Santa Fe province and Córdoba, in the same province, as of January 1, 2018, in accordance with the provisions of section 5 of the National Decree No. 1,340/2016, and in the relaxation of the areas authorized on the dates and with the modalities provided by ENACOM Resolution No. 5,641/2017 dated December 20, 2017.2-SECTION 2.- The company CABLEVISIÓN S. A. is hereby authorized to transfer the registration of the Radio-Electric Trunking Services License ('SRCE') to the company TELECOM ARGENTINA S. A.3 -SECTION 3.- The company CABLEVISIÓN S.A. is hereby authorized to transfer in favour to the company TELECOM ARGENTINA S. A the authorizations and permits for the employ of frequencies and the assignments of numbering and signaling resources for the provision of the referred services that are owned by the absorbed company CABLEVISIÓN S.A., under the terms of the current legislation (Annex IV of Decree 764/2000), and of the agreement signed by the company NEXTEL COMMUNICATIONS ARGENTINA S.R.L., on April 12, 2017 (IF-2017-08818737- APN-ENACOM#MCO), according to which TELECOM ARGENTINA S.A., in its capacity as surviving company of CABLEVISIÓN S. A, must, within TWO (2) YEARS of the merger's approval by the NATIONAL COMMISSION FOR THE DEFENSE OF COMPETITION and the ENACOM or the organizations that in the future will supersede them in their functions, revert the radioelectric spectrum that exceeds the limit provided in Article 5º of the Resolution Nº 171-E/17 of the MINISTRY OF COMMUNICATIONS and / or the norm that replaces it in the future. To this end, the company must submit to the ENTE NACIONAL DE COMUNICACIONES, with a minimum of one year's notice before the expiration of the TWO (2) year term, a proposal for adaptation to said cap. ENACOM may accept the proposal, reject it and / or request a new presentation with the modifications it deems pertinent.4-SECTION 7.- The change of corporate control in accordance with section 33 of the general Corporate Law N°19,550  in the company TELECOM ARGENTINA S. A. is hereby authorized and will occur once the merger becomes effective and the Shareholders' Agreement dated July 7, 2017 accompanied in its presentation of September 21, 2017 enters into force, as a result of which CABLEVISIÓN HOLDING S.A. will subsist the controlling entity of TELECOM ARGENTINA S. A. as a surviving company of CABLEVISIÓN S. A.

    General Ordinary Shareholders' Meeting of Telecom Argentina held on December 28, 2017

    The general Ordinary Shareholders' Meeting held on December 28, 2017 approved the Medium Term Note Program ('the Program'), up to a maximum outstanding amount as of the date of issuance of each class or succession of three thousand million American dollars (U$S3,000,000,000.-) or its equivalent in other currencies. Additionally, the Shareholders' Meeting approved the delegation of powers into the Board of Directors of broad powers to determine and modify the terms and conditions of the Program and the Notes that will subsist issued under the Program within the maximum outstanding amount authorized by this Shareholders' Meeting, as well as to establish the opportunities of issuance and re-issuance of the Notes corresponding to each succession or class to issue under the Program and sum its issuance and re-issuance conditions, with adjustment of the maximum outstanding amount.

    Other pertinent Matters

    Merger by Absorption between Telecom Argentina S.A. (the Surviving Company) and Cablevisión S.A. (the Absorbed Company) - Minute of the transfer of operations and issuance of shares

    On January 1, 2018 having been fulfilled sum the conditions to which the Merger was matter to according to Section Seventh of the prefatory Merger Agreement and the Final Merger Agreement, on January 1, 2018 was signed the Minute of the Transfer of Operations from the Absorbed Company to the Surviving Company, which complements the Final Merger Agreement subscribed on October 31, 2017.

    As a consequence, as it was foreseen in the prefatory Merger Agreement and in the Final Merger Agreement, since 12:00 am on January 1, 2018 (the 'Effective Merger Date'), the Merger became effective and, consequently, it has taken region the change of control of the Company, being Cablevisión Holding S.A. its new controlling shareholder since January 1, 2018.

    Moreover, in accordance with the prefatory Merger Agreement and the Final Merger Agreement and the notification received from Fintech Telecom LLC ('Fintech Telecom') and Fintech Media LLC ('Fintech Media') on December 29, 2017 informing of a corporate reorganization process by which Fintech Telecom absorbed by merger with Fintech Media and VLG Argentina Escindida LLC (a spin-off of VLG Argentina LLC) with consequence on the effective Date of the Merger, the shares whose issuance was approved by the Board of Directors of Telecom Argentina were delivered on January 1, 2018: i) to Fintech Telecom LLC: 342,861,748 Class 'A' shares issued by the Company; ii) to Cablevisión Holding S.A .: 406,757,183 Class 'D' shares issued by the Company; and iii) to VLG Argentina LLC: 434,909,475 Class 'D' shares issued by the Company.

    Acceptance of the loan solicitation for up to U$S1,000,000,000

    On February 2, 2018 Telecom Argentina took due notice of the acceptance by Citibank, N.A., HSBC México S.A., Institución de Banca Múltiple, Grupo Financiero HSBC, Industrial and Commercial Bank of China Limited, JPMorgan Chase Bank, N.A. and Banco Santander, S.A, in their character as lenders, Citigroup Global Markets Inc., HSBC México, S.A., Institución de Banca Múltiple, Grupo Financiero HSBC, Industrial and Commercial Bank of China Limited, JPMorgan Chase Bank, N.A. and Banco Santander, S.A. as joint bookrunners and lead arrangers, Citibank N.A. as administrative agent and the arm of Citibank N.A, established in the Republic of Argentina, as onshore custody agent, of the loan solicitation performed by the Company for an amount up to U$S1.000.000.000, as requested in a timely manner by the Company in one or more disbursements, and with a 12-month tenor.

    Relating to this, the Board of Directors of the Company has approved the financing in the terms described in the loan present at its meeting held on January 31, 2018.

    Additionally, Telecom Argentina has received a disbursement of the loan in the amount of U$S650,000,000 on February 9, 2018.

    Due to the fact that since 12:00 am on January 1, 2018 the Merger by Absorption between Telecom Argentina S.A. (the Surviving Company) and Cablevisión S.A. (the Absorbed Company) has become effective, the Company wants to present to the investor community the results of Cablevision S.A for fiscal years 2017 and 2016.

    Cablevisión S.A. ('Cablevisión')Consolidated results for the annual epoch ('FY17') and fourth quarter for fiscal year 2017 ('4Q17')

    Highlights

  • Revenues totaled P$40,952 million, an augment of 34.0% vs. el FY16 (P$30,571 million), mainly due to growth subscribers in internet access segment, and the increased ARPU in Cable TV and Internet access segment.
  • Adjusted EBITDA (1) increased 38.6% compared with FY16, reaching P$15,155 million, mostly driven by increased sales in the Internet Access segment, and a higher ARPU in Cable TV and Internet Access segment.
  • Cablevisión´s Adjusted EBITDA Margin (2) for FY17 was 37.0%, compared to 35.8% in FY16.
  • Income for the epoch for FY17 totaled P$5,895 million, up 43.5% compared with FY16 (P$4,107 million).
  • (1) Adjusted EBITDA is defined as Revenues minus cost of sales (excluding depreciation and amortization) and selling and administrative expenses (excluding depreciation and amortization). They believe that Adjusted EBITDA is a meaningful measure of their performance. It is commonly used to resolve and compare media companies on the basis of operating performance, leverage and liquidity. Nonetheless, Adjusted EBITDA is not a measure of net income or cash current from operations and should not subsist considered as an alternative to net income, an indication of their fiscal performance, an alternative to cash current from operating activities or a measure of liquidity. Other companies may compute Adjusted EBITDA in a different manner; therefore, Adjusted EBITDA as reported by other companies may not subsist comparable to Adjusted EBITDA as they report it.

    (2) Adjusted EBITDA Margin is defined as Adjusted EBITDA over Revenues.

    Operating Results

    Revenues reached P$40,952 million in FY17, an augment of 34.0% compared with FY16. The augment is mostly attributable to the growth in broadband subscribers, speeds upgrades to their current customer groundwork and the up selling of value added services with cost adjustments.

    Cost of Sales(Excluding Depreciation and Amortization) totaled P$15,489 million in FY17, up 30.9% from P$11,834 million in FY16, due to higher programming costs and higher payroll and convivial security charges and other personnel expenses, among others. 

    Selling and Administration Expenses(Excluding Depreciation and Amortization) reached P$10,308 million in FY17, increasing 32.0% vs. FY16 (P$7,806 million). The augment is mainly explained by higher costs due to inflation and higher fees for services, taxes, duties and contributions and salaries.

    Adjusted EBITDA reached P$15,155 million in FY17, growing 38.6% from P$10,931 million reported for FY16, driven by higher sales in Cable TV and Internet access segment.

    Depreciation and Amortization Expenses increased 54.0% to P$3.987 million in FY17, compared to P$2.588 in FY16.

    Net fiscal Results totaled a loss of P$2,612 million in FY17, increasing from a loss of P$2,374 million in FY16. The augment is mainly explained by lower other fiscal results, net (which reached -P$370 million in FY17, from +P$222 million in FY16) due to lower income from interests and FX results on cash and cash equivalents.    

    Equity in earnings from unconsolidated affiliates were P$168 million in FY17, compared with P$131 million in FY16. 

    Other Income (expenses) totaled a gain of P$29 million in FY17, compared to a loss of P$11 in FY16.

    Income tax reached P$2,859 million in FY17, compared with P$2,095 million in FY16.

    Income for the epoch totaled P$5,895 million in FY17, showing an augment of 43.5% vs. FY16 (P$4,107 million). The augment was mainly due to higher EBITDA in the Cable TV and Internet Access segments.

    During FY17, the Company invested P$11,681 million, which represented an augment of 28.7% from P$9,076 million reported in FY16. These Capital Expenditures are mainly comprised by subscriber growth, network upgrades and digitalization.

    Clients

    As of December 31, 2017, total consolidated Cable TV subscribers reached 3,503 thousand, from 3,528 thousand registered in the same epoch of 2016. Internet subscribers totaled 2,335 thousand as of December 31, 2017 vs. 2,183 thousand as of December 31, 2016.

    Debt and Liquidity

    Total fiscal Debt (1)increased from P$9,606 million in FY16 to P$10,905 million in FY17. On the other hand, Net Debt decreased from P$6,936 in FY16 to P$6,451 million in FY17. This represents an augment of 13.5% in Total Debt and a decline of 7.0% in Net Debt.  The lessen in Net Debt is mostly explained by an augment in cash and equivalents due to a higher operating cash current generation.

    Debt Coverage Ratio (1) as of December 31th, 2017 was 0.43x in the case of Net Debt and of 0.72x in terms of Total fiscal Debt.

    (1) Debt Coverage Ratio is defined as Total fiscal Debt divided by Adjusted EBITDA (calculated in Ps. for the eventual twelve months). Total fiscal debt is defined as fiscal loans and debt for acquisitions, excluding accrued interest.

    On October 30th, 2017, within the framework of the merger process between Cablevisión and Telecom, the company called for a Shareholders´ Meeting in order to request to the the holders of its Class A Notes, issued for a nominal amount of U$S500 million, the modification and/or elimination of unavoidable clauses (or piece of them) from the 'Indenture' celebrated on June 15, 2016 between Cablevisión, Deutsche Bank reliance Company Americas, Deutsche Bank S.A. and Deutsche Bank Luxembourg S.A.

    On December 11, 2017, it was celebrated the Extraordinary Shareholders´ Meeting of the Class 'A' Notes Holders which had a quorum of 81.8621626% of the total capital and vote amount of the Notes. In the aforementioned Shareholders´ Meeting it was unanimously determined to accredit the modifications and/or eliminations of the clauses (or piece of them) from the Indenture celebrated on June 15, 2016 between Cablevisión, Deutsche Bank reliance Company Americas, Deutsche Bank S.A. and Deutsche Bank Luxembourg S.A.

    On the occasion of the issuance and subsequent modification, aforementioned, of the Company´s Notes, unavoidable commitments hold been assumed including: (i) the limitation for the issuance of guarantees by the Company and its subsidiaries, (ii) merger by absorption and merger itself, (iii) limitation to indebtedness above approved ratios, (iv) limitation for the issuance and sale of shares from any significant subsidiary with unavoidable exceptions, among others.

    Telecom Argentina is the parent company of a leading telecommunications group in Argentina, where it offers, either itself or through its controlled subsidiaries local and long distance fixed-line telephony, cellular, data transmission, and pay TV and Internet services, among other services. Additionally, Telecom Argentina offers cellular services in Paraguay and pay TV services in Uruguay. The Company commenced operations on November 8, 1990, upon the Argentine government's transfer of the telecommunications system in the northern region of Argentina.

    As of March 7, 2018, Telecom Argentina has 2,168,909,384 shares issued and 2,153,688,011 shares outstanding.

    For more information, please contact Investor Relations:

    Solange Barthe Dennin

    (5411) 4968 3752

    Luis F. Rial Ubago

    (5411) 4968 3718

    Antonella Papaleo

    (5411) 4968 6236

    Nahuel Monsalvo

    (5411) 4698 4448

    Voice Mail: (5411) 4968 3628Fax: (5411) 4968 3616E-mail: relinver@teco.com.ar

    For information about Telecom Argentina's services, visit:

    www.telecom.com.ar www.personal.com.ar www.personal.com.py www.arnet.com.ar www.cablevisionfibertel.com.ar www.nextel.com.ar

    Disclaimer

    This document may hold statements that could constitute forward-looking statements, including, but not limited to, the Company's expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital structure; the effects of its debt restructuring process; the repercussion of emergency laws enacted by the Argentine Government; and the repercussion of rate changes and competition on the Company's future fiscal performance. Forward-looking statements may subsist identified by words such as 'believes,' 'expects,' 'anticipates,' 'projects,' 'intends,' 'should,' 'seeks,' 'estimates,' 'future' or other similar expressions. Forward-looking statements involve risks and uncertainties that could significantly impress the Company's expected results. The risks and uncertainties include, but are not limited to, the repercussion of emergency laws enacted by the Argentine government that hold resulted in the repeal of Argentina's Convertibility law, devaluation of the peso, various changes in restrictions on the faculty to exchange pesos into strange currencies,  and currency transfer policy generally, the 'pesification' of tariffs charged for public services, the elimination of indexes to adjust rates charged for public services and the Executive arm announcement to renegotiate the terms of the concessions granted to public service providers, including Telecom. Due to extensive changes in laws and economic and business conditions in Argentina, it is difficult to call the repercussion of these changes on the Company's fiscal condition. Other factors may include, but are not limited to, the evolution of the economy in Argentina, growing inflationary pressure and evolution in consumer spending and the outcome of unavoidable legal proceedings. Readers are cautioned not to region undue reliance on forward-looking statements, which talk only as the date of this document. The Company undertakes no duty to release publicly the results of any revisions to forward-looking statements which may subsist made to reflect events and circumstances after the date of this press release, including, without limitation, changes in the Company's business or to reflect the event of unanticipated events. Readers are encouraged to consult the Company's Annual Report on profile 20-F, as well as fitful filings made on profile 6-K, which are filed with or furnished to the United States Securities and Exchange Commission for further information concerning risks and uncertainties faced by Telecom.

    Contacts:Solange Barthe Dennin(54 11) 4968-3752

    Cision View original content:https://www.prnewswire.com/news-releases/telecom-argentina-sa-announces-consolidated-results-for-the-annual-period-fy17-and-fourth-quarter-for-fiscal-year-2017-4q17-300610382.html

    SOURCE Telecom Argentina S.A.


    ARRIS International plc (ARRS) | killexams.com actual questions and Pass4sure dumps

    No result found, try new keyword!ARRIS International plc is a well-known seasoned issuer. ARRIS International plc (1) has filed sum reports required to subsist filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the ...

    Wouldn't it subsist cool? Their business intelligence and data integration wish list for 2008 | killexams.com actual questions and Pass4sure dumps

    We recently jotted down their industry predictions for 2008. But more than once during this process, one of us would say, “Naah. That will never happen.” Then we’d snap on to more practical predictions.

    But their wheels were quiet turning. They kept brainstorming about what would subsist icy to note in the world of business intelligence (BI) and data integration, however unrealistic. So they made a list of capabilities, features, and fabulous functions that they (and, more to the point, their clients) would savor to note in the coming year. Or the next year, for that matter.

    Wouldn’t it subsist icy if companies really believed in data self-service? Over the eventual ten years, the concept of self-service within the technology environment has become commonplace. Receptionists hold ceded to company voicemail. Corporate libraries hold become learning management repositories and wikis within the firewall. (We call dibs on that WWF acronym!). The reduction of headcount because of technology innovation is now a de facto business imperative.

    Unfortunately, when it comes to using corporate data, subsist it fiscal data, HR data, product information, pricing data, inventory, and sum the other data in the enterprise, data self-service isn’t happening. sum too often, data access depends on personal relationships. They note it sum the time: data’s "use-ability" is directly proportional to the skills of the person handing it over.

    What’s standing in the passage of universal data access? Human nature, for one. Sometimes it’s just easier to fish for someone else than to school that person how to cast his or her own line. And that banal adage of learning being power has arrive home to roost in business intelligence: people are beholden to information owners. business users shouldn’t subsist rewarded for spoon-feeding data to others, but for ensuring that information is disseminated in a timely and repeatable passage to everyone who needs it. For instance, success in the retailing world isn’t determined by the size of a distribution center, but by the distribution efficiencies. The value of information isn’t in the stockpiling of that information, but in how streamlined the data supply chain is. It would subsist icy if the data supply chain got faster, and people got their data more quickly, and on-demand.

    Wouldn’t it subsist icy if application systems were measured on data accessibility and sharing, and not just processing and uptime? If the application system can’t share the data it generates, then should it really subsist benefiting from enterprise funding? The relaxation of the company may subsist relying on that data for operational or strategic purposes.

    Until availing data to the enterprise becomes a formal responsibility for application systems developers, a corporate data “black market” will continue to flourish. The data black market is where companies expend untold money and time creating data that people exigency to acquire their workaday jobs done. call it spreadmarts. call it shadow IT. People aren’t just propagating foul data, they’re increasing corporate liability. Most companies expend the majority of their time finding, cleaning, and distributing data from person to person – a collection of activities and processes that never shows up on anyone’s budget but nevertheless impacts the company’s bottom line.

    Wouldn’t it subsist icy if data-as-a-service became a reality? In this day of search engines and advanced taxonomies, every BI developer is quiet a jack-of-all-trades. He needs to know database design and performance tuning. He needs to subsist a metadata expert. He needs to understand the issues of data trait and correction and of database structures and access paths – as well as the unique naming conventions across every platform, database, table, and data element.

    Wouldn’t it subsist icy if that BI developer could suddenly subsist unencumbered by the details of database structures, navigation issues, or syntax? While there will always subsist business exact for linear regression algorithms and other advanced analytics, the majority of reporting and analysis continues to subsist based on simple, filtered lists. With data as a service, a BI developer could repurpose the countless hours of database navigation and usage – some of their clients cite these activities as 40 percent or more of evolution time – and focus more time on chipping away at the backlog of reports and user requests.

    (Note to business managers: hold you calculated what 40 percent of your application developers’ time is costing you?)

    Wouldn’t it subsist icy if they had simple apples-to-apples comparisons of BI utensil vendors? These days, vendors retain their performance numbers nigh to the vest, industry vendor bake-offs are usually more performance-based than functionally specific, and the industry analyst firms simply can’t quiver the stigma that recommended vendors are too paying clients.

    Wouldn’t it subsist icy if executives distinguished data governance from data management? They define data governance as the organizing framework for aligning strategy, defining objectives, and establishing policies for enterprise information. Data management is the tactical execution of data governance. It includes data trait processes, privacy and security administration, metadata management, data modeling and design, and other tactical, skills-rich activities. Using data governance synonymously with data management not only misses the point, but also prevents many companies from leaving the starting block. You can Do data management without data governance – that’s where most companies are currently. But you can’t Do data governance without data management, and it would subsist icy if managers recognized the symbiosis between the two and began investing.

    Wouldn’t it subsist icy if the business focused less on data perfection, and more on systemic, process-driven data quality? sum too often, they find ourselves in a play replete of business users complaining about the data they acquire from IT. The definition of “good data” isn’t within arm’s compass – everyone has a different feeling of what the birthright reply is. The typical lack of data management rigor means that there’s no simple answer, or a simple process for defining data success metrics.

    If management really wants to assail the data trait problem, they exigency to dismount the tall horse of data perfection and ensure that data definitions, content, and acceptance criteria are well defined for individual systems as well as for the enterprise at large. Data management as a discipline helps companies acquire off of the carousel of lousy data, letting IT work with a set of defined goals. Adopting a business-focused and programmatic approach to data quality, and realizing that data trait automation is simply a means to that end, would subsist a gracious start.

    Wouldn’t it subsist icy if business users realized that the only obstruction to data trait was their own lack of appointment and ownership?

    Wouldn’t it subsist icy if they had to warrant the continued actuality of their systems? We’re sum for “pre facto” ROI estimation, but what about measuring the ongoing value of an application, either in terms of cost savings or revenue generation?

    We realize that having such a policy could subsist a double-edged sword for some companies; but, in most cases, it would bolster both the reputation and the funding of data warehouse and BI programs that must regularly, and in many cases unnecessarily, cede to the budget demands of operational systems’ maintenance activities and new release plans.

    In the investment world, every mutual fund manager is measured. And the fund either grows or shrinks based upon the fund manager’s performance. When mutual fund giant Janus ran into wretchedness with regulators, many of its fund managers headed for the hills and its stock got battered. In the eventual seven years, Janus’ assets hold shrunk by 50 percent. An investment isn’t a one-time-only event, but something that people continually monitor. So it should subsist with IT value measurement.

    Wouldn’t it subsist icy if enterprise search and SOA were linked? Then, edifice applications would involve nothing more than requesting reports from a search engine. This would eradicate the backlog of benchmark canned reports and remove much of the maintenance burden. The concept of business information without programming would become a reality. sum too often, reports are duplicated across systems because people don’t know what’s already out there, and it’s well-known that business intelligence tools are nothing more than a delivery mechanism into Excel. By linking search with data services, a user could leverage her personal “palette” of toolsets, simplifying data access and navigation. This would execute new reports as simple as surpass and web mash-ups, thus liberating developers from the ongoing font size, colors and visualization deliberations once and for all.

    Wouldn’t it subsist icy if the business understood the strategic value of IT? If IT could engage the business consistently in new requirements conversations? If they could acquire their fingers sum the passage to the bottom of the peanut butter jar? If someone cleaned their garage while they were out to dinner? If movie stars were paid by weight? If “reboot” worked in actual life?

    ‘Til then, we’ll retain on doing their day jobs. 

     
  • Jill DychéJill Dyché

    Jill is a partner co-founder of Baseline Consulting, a technology and management consulting difficult specializing in data integration and business analytics. Jill is the author of three acclaimed business books, the latest of which is Customer Data Integration: Reaching a solitary Version of the Truth, co-authored with Evan Levy. Her blog, Inside the Biz, focuses on the business value of IT.

    Editor's Note: More articles and resources are available in Jill's BeyeNETWORK Expert Channel. subsist sure to visit today!

  • Evan Levy

    Evan is a partner and co-founder of Baseline Consulting, a professional services difficult concentrating on enterprise data issues. In addition to his executive management responsibilities at Baseline, Evan is actively involved in managing project delivery teams and guiding client solution delivery. He too advises vendors and VC firms on new and emerging product strategies. Considered an industry leader on the topic of data integration and management, Evan is a faculty member of The Data Warehousing Institute. He is co-author of the new book, Customer Data Integration: Reaching a solitary Version of the Truth (John Wiley and Sons, 2006).



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    ASQ [3 Certification Exam(s) ]
    ASTQB [8 Certification Exam(s) ]
    Autodesk [2 Certification Exam(s) ]
    Avaya [96 Certification Exam(s) ]
    AXELOS [1 Certification Exam(s) ]
    Axis [1 Certification Exam(s) ]
    Banking [1 Certification Exam(s) ]
    BEA [5 Certification Exam(s) ]
    BICSI [2 Certification Exam(s) ]
    BlackBerry [17 Certification Exam(s) ]
    BlueCoat [2 Certification Exam(s) ]
    Brocade [4 Certification Exam(s) ]
    Business-Objects [11 Certification Exam(s) ]
    Business-Tests [4 Certification Exam(s) ]
    CA-Technologies [21 Certification Exam(s) ]
    Certification-Board [10 Certification Exam(s) ]
    Certiport [3 Certification Exam(s) ]
    CheckPoint [41 Certification Exam(s) ]
    CIDQ [1 Certification Exam(s) ]
    CIPS [4 Certification Exam(s) ]
    Cisco [318 Certification Exam(s) ]
    Citrix [48 Certification Exam(s) ]
    CIW [18 Certification Exam(s) ]
    Cloudera [10 Certification Exam(s) ]
    Cognos [19 Certification Exam(s) ]
    College-Board [2 Certification Exam(s) ]
    CompTIA [76 Certification Exam(s) ]
    ComputerAssociates [6 Certification Exam(s) ]
    Consultant [2 Certification Exam(s) ]
    Counselor [4 Certification Exam(s) ]
    CPP-Institue [2 Certification Exam(s) ]
    CPP-Institute [1 Certification Exam(s) ]
    CSP [1 Certification Exam(s) ]
    CWNA [1 Certification Exam(s) ]
    CWNP [13 Certification Exam(s) ]
    Dassault [2 Certification Exam(s) ]
    DELL [9 Certification Exam(s) ]
    DMI [1 Certification Exam(s) ]
    DRI [1 Certification Exam(s) ]
    ECCouncil [21 Certification Exam(s) ]
    ECDL [1 Certification Exam(s) ]
    EMC [129 Certification Exam(s) ]
    Enterasys [13 Certification Exam(s) ]
    Ericsson [5 Certification Exam(s) ]
    ESPA [1 Certification Exam(s) ]
    Esri [2 Certification Exam(s) ]
    ExamExpress [15 Certification Exam(s) ]
    Exin [40 Certification Exam(s) ]
    ExtremeNetworks [3 Certification Exam(s) ]
    F5-Networks [20 Certification Exam(s) ]
    FCTC [2 Certification Exam(s) ]
    Filemaker [9 Certification Exam(s) ]
    Financial [36 Certification Exam(s) ]
    Food [4 Certification Exam(s) ]
    Fortinet [13 Certification Exam(s) ]
    Foundry [6 Certification Exam(s) ]
    FSMTB [1 Certification Exam(s) ]
    Fujitsu [2 Certification Exam(s) ]
    GAQM [9 Certification Exam(s) ]
    Genesys [4 Certification Exam(s) ]
    GIAC [15 Certification Exam(s) ]
    Google [4 Certification Exam(s) ]
    GuidanceSoftware [2 Certification Exam(s) ]
    H3C [1 Certification Exam(s) ]
    HDI [9 Certification Exam(s) ]
    Healthcare [3 Certification Exam(s) ]
    HIPAA [2 Certification Exam(s) ]
    Hitachi [30 Certification Exam(s) ]
    Hortonworks [4 Certification Exam(s) ]
    Hospitality [2 Certification Exam(s) ]
    HP [750 Certification Exam(s) ]
    HR [4 Certification Exam(s) ]
    HRCI [1 Certification Exam(s) ]
    Huawei [21 Certification Exam(s) ]
    Hyperion [10 Certification Exam(s) ]
    IAAP [1 Certification Exam(s) ]
    IAHCSMM [1 Certification Exam(s) ]
    IBM [1532 Certification Exam(s) ]
    IBQH [1 Certification Exam(s) ]
    ICAI [1 Certification Exam(s) ]
    ICDL [6 Certification Exam(s) ]
    IEEE [1 Certification Exam(s) ]
    IELTS [1 Certification Exam(s) ]
    IFPUG [1 Certification Exam(s) ]
    IIA [3 Certification Exam(s) ]
    IIBA [2 Certification Exam(s) ]
    IISFA [1 Certification Exam(s) ]
    Intel [2 Certification Exam(s) ]
    IQN [1 Certification Exam(s) ]
    IRS [1 Certification Exam(s) ]
    ISA [1 Certification Exam(s) ]
    ISACA [4 Certification Exam(s) ]
    ISC2 [6 Certification Exam(s) ]
    ISEB [24 Certification Exam(s) ]
    Isilon [4 Certification Exam(s) ]
    ISM [6 Certification Exam(s) ]
    iSQI [7 Certification Exam(s) ]
    ITEC [1 Certification Exam(s) ]
    Juniper [64 Certification Exam(s) ]
    LEED [1 Certification Exam(s) ]
    Legato [5 Certification Exam(s) ]
    Liferay [1 Certification Exam(s) ]
    Logical-Operations [1 Certification Exam(s) ]
    Lotus [66 Certification Exam(s) ]
    LPI [24 Certification Exam(s) ]
    LSI [3 Certification Exam(s) ]
    Magento [3 Certification Exam(s) ]
    Maintenance [2 Certification Exam(s) ]
    McAfee [8 Certification Exam(s) ]
    McData [3 Certification Exam(s) ]
    Medical [69 Certification Exam(s) ]
    Microsoft [374 Certification Exam(s) ]
    Mile2 [3 Certification Exam(s) ]
    Military [1 Certification Exam(s) ]
    Misc [1 Certification Exam(s) ]
    Motorola [7 Certification Exam(s) ]
    mySQL [4 Certification Exam(s) ]
    NBSTSA [1 Certification Exam(s) ]
    NCEES [2 Certification Exam(s) ]
    NCIDQ [1 Certification Exam(s) ]
    NCLEX [2 Certification Exam(s) ]
    Network-General [12 Certification Exam(s) ]
    NetworkAppliance [39 Certification Exam(s) ]
    NI [1 Certification Exam(s) ]
    NIELIT [1 Certification Exam(s) ]
    Nokia [6 Certification Exam(s) ]
    Nortel [130 Certification Exam(s) ]
    Novell [37 Certification Exam(s) ]
    OMG [10 Certification Exam(s) ]
    Oracle [279 Certification Exam(s) ]
    P&C [2 Certification Exam(s) ]
    Palo-Alto [4 Certification Exam(s) ]
    PARCC [1 Certification Exam(s) ]
    PayPal [1 Certification Exam(s) ]
    Pegasystems [12 Certification Exam(s) ]
    PEOPLECERT [4 Certification Exam(s) ]
    PMI [15 Certification Exam(s) ]
    Polycom [2 Certification Exam(s) ]
    PostgreSQL-CE [1 Certification Exam(s) ]
    Prince2 [6 Certification Exam(s) ]
    PRMIA [1 Certification Exam(s) ]
    PsychCorp [1 Certification Exam(s) ]
    PTCB [2 Certification Exam(s) ]
    QAI [1 Certification Exam(s) ]
    QlikView [1 Certification Exam(s) ]
    Quality-Assurance [7 Certification Exam(s) ]
    RACC [1 Certification Exam(s) ]
    Real-Estate [1 Certification Exam(s) ]
    RedHat [8 Certification Exam(s) ]
    RES [5 Certification Exam(s) ]
    Riverbed [8 Certification Exam(s) ]
    RSA [15 Certification Exam(s) ]
    Sair [8 Certification Exam(s) ]
    Salesforce [5 Certification Exam(s) ]
    SANS [1 Certification Exam(s) ]
    SAP [98 Certification Exam(s) ]
    SASInstitute [15 Certification Exam(s) ]
    SAT [1 Certification Exam(s) ]
    SCO [10 Certification Exam(s) ]
    SCP [6 Certification Exam(s) ]
    SDI [3 Certification Exam(s) ]
    See-Beyond [1 Certification Exam(s) ]
    Siemens [1 Certification Exam(s) ]
    Snia [7 Certification Exam(s) ]
    SOA [15 Certification Exam(s) ]
    Social-Work-Board [4 Certification Exam(s) ]
    SpringSource [1 Certification Exam(s) ]
    SUN [63 Certification Exam(s) ]
    SUSE [1 Certification Exam(s) ]
    Sybase [17 Certification Exam(s) ]
    Symantec [134 Certification Exam(s) ]
    Teacher-Certification [4 Certification Exam(s) ]
    The-Open-Group [8 Certification Exam(s) ]
    TIA [3 Certification Exam(s) ]
    Tibco [18 Certification Exam(s) ]
    Trainers [3 Certification Exam(s) ]
    Trend [1 Certification Exam(s) ]
    TruSecure [1 Certification Exam(s) ]
    USMLE [1 Certification Exam(s) ]
    VCE [6 Certification Exam(s) ]
    Veeam [2 Certification Exam(s) ]
    Veritas [33 Certification Exam(s) ]
    Vmware [58 Certification Exam(s) ]
    Wonderlic [2 Certification Exam(s) ]
    Worldatwork [2 Certification Exam(s) ]
    XML-Master [3 Certification Exam(s) ]
    Zend [6 Certification Exam(s) ]





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