Mar 10, 2010, post by awatrobski
KeyOn informed that it was notified by the Rural Utilities Service that its applications under the Broadband Initiatives Program of the American Recovery and Reinvestment Act of 2009 were not awarded.
Despite the fact that all 11 of KeyOn’s applications had advanced to the due diligence phase in Round One, the RUS did not advance any of the company’s applications to an award.
KeyOn Communications Holdings is one of the largest providers of wireless broadband, satellite and voice over Internet protocol (VoIP) services in the United States, primarily targeting underserved markets with populations generally less than 50,000. KeyOn offers broadband services with VoIP and satellite video services to both residential and business subscribers across 11 Western and Midwestern states.
The company also informed that it will host a conference call on March 8, 2010, at 4:15 p.m. EST, during which KeyOn’s CEO Jonathan Snyder will provide an update on the Round One process and announce its intentions for Round Two of the BIP. There will be a Q & A session at the end of the presentation.
The details of the investor presentation are given on the KeyOn.com.
Participants are encouraged to call/log in at least 10 minutes prior to the beginning of the call.
A replay of the conference call will be available following the presentation at the Investor Relations tab on KeyOn Communications’ Web site.
Mar 10, 2010, post by awatrobski
Several telecom industry players and observers are still uncertain as to the government’s plans and goals in regards to its revealed plans to “open Canada’s doors further to venture capital and to foreign investment in key sectors, including the satellite and telecommunications industries, giving Canadian firms access to the funds and expertise they need”.
The plans were contained in a broad policy statement contained in the Speech from the Throne, delivered to the Parliament March 3.
As specifics from the 2010 federal budget were tabled the next day, however, it seemed that the easing of foreign ownership rules would apply only to satellites, and the ownership status of private satellites licensed in Canada to deliver media services like satellite TV.
A spokesperson for the Ministry of Finance said following the budget it expects “to deliver more clarity” on the topic and timing of anticipated changes to investment rules “in the next few weeks” adding that “the budget is referring to satellite providers – Canadian telecommunications companies offering services using satellites.”
Commenting on the broad statements contained in the Throne Speech, Chris Peirce, Chief Corporate Officer, MTS Allstream, informed “Elimination of the foreign investment restrictions is a key ingredient to building a truly competitive digital economy characterized by the early offer and adoption of new technology across the economy. We look forward to learning the details on how the government intends to move forward with this important initiative.”
A Bell spokesperson stated that the company is “not opposed to a review of the regulations – increased possibility of investment in our company supports our focus on broadband innovation and investment” but added that “we would like to understand what the government is trying to achieve in its review – details are few, so we look forward to hearing more about the process”.
A spokesperson for the Canadian Wireless Telecommunicationss Association (CWTA) told Mediacaster Magazine that “Foreign ownership is not a file that the Association has been working on on behalf of our various members.”
Ottawa-based Telesat, one of the top five commercial satellite companies worldwide, informed it was pleased to hear about the decision.
“Telesat strongly supports the government’s decision to remove the foreign investment restrictions for our industry,” Telesat Chief Executive Daniel S. Goldberg said in a release. “Although Telesat has invested billions of dollars in its satellite fleet to date, we need to continue to increase our scale in an industry where size confers key competitive advantages. By removing the investment restrictions, Telesat will be a more effective global competitor and able to invest in new and advanced technologies for the benefit of all Canadians.”
Telesat operates 12 satellites, with two more under construction, and manages the operations of 13 additional satellites for third parties. Bsed in Ottawa, Telesat is privately held. Its principal shareholders are Canada’s Public Sector Pension Investment Board and Loral Space & Communications Inc.
Loral and PSP Investments acquired 100 percent of the stock of Telesat Canada from BCE for $ 3.25 billion CDN in October 2007.
At the time, Loral and PSP Investments were to hold a 64 percent and 36 percent economic interest, respectively, in the new company. Consistent with Canadian law of the day, Loral’s total voting equity will be 33.3 percent, with PSP Investments and other Canadian investors having 66.7 percent.
Telesat reported 787 million Canadian dollars ($748 million at Dec. 31 exchange rates) in revenue for 2009, an 11 percent increase over 2008. More than half the company’s revenue came from broadcasting.
Bell TV plans to use all the capacity on the Nimiq 6 satellite, scheduled for launch in 2012.
U.S.-based EchoStar, with satellite TV provider Dish Network, has purchased 100 percent of the capacity of Telesat’s Nimiq 5, now in operation, for the entirety of its anticipated 15-year service life.
Mar 10, 2010, post by awatrobski
HEICO Corporation (NYSE:HEI-A) (NYSE:HEI) informed that its Electronic Technologies Group acquired substantially all of the assets and certain liabilities of dB Control, a rapidly growing and leading producer of Traveling Wave Tube Amplifiers (“TWTA”), Microwave Power Modules (“MPM”) and other high-power devices used in both defense and commercial applications.
Terms and financial details were not disclosed. HEICO stated that it expects the acquisition to be accretive to its earnings within the next twelve months.
dB Control’s TWTAs and MPMs are used predominantly in radar, electronic warfare, on-board jamming and countermeasure systems in aircraft, ships and detection platforms deployed by U.S. and allied non-U.S. military forces. The company also produces high-voltage power supplies found in satellite communication, medical and industrial x-ray systems. dB Control adds to HEICO’s existing presence in high-voltage, microwave and high-power design and production on various programs.
dB Control’s products are typically associated with radar-enabled high-power threat detection, avoidance and targeting platforms such as the Predator, Reaper, Fire Scout, Sky Warrior and Global Hawk Unmanned Aerial Vehicles (“UAV”) or “drone” aircraft. dB Control’s products are also used onboard the MH-60 Knighthawk/Seahawk helicopters, B-52, AC-130, MC-130, MC-12 Project Liberty and other aircraft. In addition, dB Control systems are utilized by ship-borne radar, such as high-power “sea skimming” missile radar.
Founded in 1990 and based in Fremont, CA, dB Control employs approximately 125 people. Joseph Hajduk, dB Control’s CEO and co-founder, will remain with the business in the same role as prior to the purchase. HEICO also stated that it does not expect material staff turnover following the acquisition.
Laurans A. Mendelson, HEICO’s Chairman and Chief Executive Officer, stated, “dB Control is a unique company which offers HEICO more participation in a growing part of both U.S. and non-U.S. defense budgets. In the U.S. Department of Defense Quadrennial Defense Review released two weeks ago, the Department of Defense made clear its intention to continue to rely more on high power radar and electronic warfare systems by dramatically increasing the size of its UAV fleet and by adding to other threat detection capabilities. We believe dB Control’s strong position in these growing markets, combined with its high technology capabilities, should provide for additional growth.”
Mr. Mendelson stated, “We are especially pleased to add Joe Hajduk and dB Control’s talented team members to our growing company. dB Control’s commitment to high quality and its growth-focused culture are a perfect fit with HEICO.”
Joseph Hajduk informed, “We felt that HEICO would be ideal due to our similar approaches to business. HEICO understands design and production for high reliability and is committed to ensuring that our customers continue to receive the service for which we are known.”
HEICO has two classes of common stock traded on the NYSE. Both classes, the Class A Common Stock (HEI.A) and the Common Stock (HEI), are virtually identical in all economic respects. The only difference between the share classes is the voting rights. The Class A Common Stock (HEI.A) receives 1/10 vote per share and the Common Stock (HEI) receives one vote per share.
There are currently approximately 15.7 million shares of HEICO’s Class A Common Stock (HEI.A) outstanding and 10.4 million shares of HEICO’s Common Stock (HEI) outstanding. The stock symbols for HEICO’s two classes of common stock on most web sites are HEI.A and HEI. However, some web sites change HEICO’s Class A Common Stock stock symbol (HEI.A) to HEI/A or HEIa.
HEICO Corporation is engaged primarily in certain niche segments of the aviation, defense, space and electronics industries through its Hollywood, FL-based HEICO Aerospace Holdings Corp. subsidiary and its Miami, FL-based HEICO Electronic Technologies Corp. subsidiary. HEICO’s consumers include a majority of the world’s airlines and airmotives as well as numerous defense and space contractors and military agencies worldwide in addition to medical, telecommunication and electronic equipment manufacturers.
Certain statements in this press release constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO’s actual results may differ materially from those expressed in or implied by those forward-looking statements as a result of factors including, but not limited to: lower demand for commercial air travel or airline fleet changes, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase to our costs to complete contracts; governmental and regulatory demands, export policies and restrictions, reductions in defense, space or homeland security spending by U.S. and/or foreign consumers or competition from existing and new competitors, which could reduce our sales; HEICO’s ability to introduce new products and product pricing levels, which could reduce our sales or sales growth; HEICO’s ability to make acquisitions and achieve operating synergies from acquired businesses, customer credit risk, interest rates and economic conditions within and outside of the aviation, defense, space and electronics industries, which could negatively impact our costs and revenues; and HEICO’s ability to maintain effective internal controls, which could adversely affect our business and the market price of our common stock. Parties receiving this material are encouraged to review all of HEICO’s filings with the Securities and Exchange Commission, including, but not limited to filings on Form 10-K, Form 10-Q and Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
