Posts tagged: chief-executive

Zayo Group All Set to Acquire FiberGate

By admin, June 6, 2012 11:02 am

Zayo Group?(News – Alert) is all set to acquire FiberGate, Inc., a Washington, D.C. metro area provider of dark fiber services.

The privately -owned Zayo Group, which is a national provider of fiber-based bandwidth infrastructure, network-neutral colocation and interconnection services, has already executed a definitive agreement in this regard.

The transaction, subject to customary approvals, will be funded from cash on hand and is expected to close by the end of the third quarter, 2012.

Zayo previously announced its agreement to acquire AboveNet, which is anticipated to close this summer.

The acquisition of FiberGate is expected to add 130,000 fiber miles to Zayo’s metro network in and around the nation’s capital.

The current FiberGate network also includes 315 on-net buildings and two recently completed expansions to Frederick and Baltimore, Maryland.

“The Washington, D.C. / Northern Virginia area is a uniquely important geography for government, data centers and Internet connectivity,” said Dan Caruso?(News – Alert), chief executive officer of Zayo Group, in a statement.

Caruso said that the combination of AboveNet’s and FiberGate’s networks will create an extensive fiber footprint in this strategic bandwidth corridor.

“I am proud of the business we have built including great customer relationships and an extensive fiber network,” said Bill Boyle, CEO of FiberGate, who co-founded the business in 1995 and has been CEO from inception. In March 2010, justin bieber songs lyrics movies performed the final party in version K naan with “Wavin ‘ Flag”..

“Government has long been our sweet spot, but in recent years we have broadened our reach to carriers and enterprises,” said Boyle.

“The simplicity of FiberGate’s business model combined with its excellent inventory data makes it a straightforward business to integrate,” emphasized Caruso.

Earlier in May, Cbeyond?(News – Alert), Inc. had announced a formal agreement with Zayo.

?This partnership will enable Cbeyond to leverage Zayo’s infrastructure to bring high-speed bandwidth connectivity to small and medium sized businesses via dark fiber.

Edited by Brooke Neuman

General Cable Corporation to acquire alcan cable, the wire and cable business of Rio Tinto plc

By admin, May 22, 2012 12:02 pm

Tuesday, May 22, 2012

General Cable Corporation (NYSE: BGC) (the Company) announced today that it has agreed to acquire Alcan Cable, the wire and cable business of Rio Tinto plc (Rio Tinto) (LSE: RIO). The purchase price is $185 million in cash, subject to customary adjustments primarily related to working capital levels at closing as provided in the definitive purchase agreement. The Company expects to use its Asset Based Revolving Credit Facility to principally fund the transaction. The transaction is expected to close in the second half of 2012, subject to receipt of regulatory approval.

Alcan Cable employs approximately 1,050 associates in its aluminum cable manufacturing and distribution facilities servicing the energy and construction markets in the United States , Canada , Mexico , and China. In 2011, Alcan Cable reported operating margins in the low single digit range. On an annual basis, the Company estimates the acquisition will contribute approximately $650-700 million in revenues at current metal prices. Over a cycle, Alcan Cable’s operating margin profile is expected to be consistent with the Company’s existing North American businesses as manufacturing, logistics, and purchasing synergies are realized. With these synergies, an improving North American market and an accelerating greenfield operation in China, the transaction is expected to create shareholder value in the near term.

“I have long admired Alcan Cable and their singular and long standing focus on being superb at their craft. Alcan Cable’s STABILOY? and NUAL? brand names are the gold standard for quality, packaging, and service in the North American aluminum cable industry. In addition, they are highly skilled in aluminum rod manufacturing and have built a state of the art facility in China that is successfully penetrating the domestic construction cable market. Alcan Cable’s rich history, like General Cable’s, exceeds 100 years. We look forward to sharing best practices and creating fresh career opportunities for the very dedicated and professional Alcan Cable team,” said Gregory B. Kenny, President and Chief Executive Officer of General Cable .

Gregory J. Lampert , President and Chief Executive Officer, General Cable North America , noted that, “The addition of aluminum construction cables further expands the range of products we offer to distributors serving electrical and industrial contractors and increases our capacity to efficiently serve our electric utility customers with transmission and distribution products.”

“Alcan Cable China has a 430,000 square foot, vertically integrated manufacturing plant in Tianjin, China and eight regional sales offices. Alcan Cable China is highly complementary to our two long standing partnerships in China representing a new route to market for our full range of products. The addition of Alcan Cable Mexico combined with our existing manufacturing capability in the country further enhances our ability to service the Mexican market,” said Mathias F. casino . Sandoval , President and Chief Executive Officer, General Cable Rest of World.

Source:?General Cable

Houston Wire & Cable Company Reports Results for the First Quarter of 2012

By admin, May 11, 2012 1:01 pm

Friday, May 11, 2012

HOUSTON, TX–(Marketwire – May 10, 2012) – Houston Wire & Cable Company (NASDAQ: HWCC) (the “Company”) announced operating results for the first quarter ended March 31, 2012.

Selected highlights were:
•Sales of $94.5 million
•Gross margin reached 22.4%
•Operating margins reached 7.2%
•Net income of $4.0 million
•Diluted EPS of $0.23
•Declared dividends totaling $0.09 cents per share

Jim Pokluda, President and Chief Executive Officer, commented, “I am pleased that our sales in the quarter rebounded from the fourth quarter of 2011, increasing 8%, albeit falling short of the prior year period by just over 5%. Comparisons for the first half of 2012 are difficult, because the 2011 period experienced significant project billings and strong MRO demand from formerly delayed work during the recession. Typically, on a sequential basis, sales performance in the first quarter is similar to that of the fourth quarter in the prior year. Although both project and MRO sales were down on a year-over-year basis, I believe our sequential growth, to be a positive indicator of improving market conditions.

“We have continued to invest in additional sales and marketing resources and expanded our product line. The mechanical product is now being housed in four additional distribution facilities and electrical wire is now being carried in one more facility. All business development initiatives drove continued market penetration and resulted in 107 new customers being added during the quarter.”

First Quarter Summary

Overall market strength remained intact and project activity within the five long-term growth initiatives of Utility Power Generation, Environmental Compliance, Engineering & Construction, Industrials and LifeGuard™, our proprietary private-label product, remained a significant component of overall revenue. New project opportunities and sales increased as a result of several small to medium sized orders from plant expansions and upgrades. However total project sales compared to the prior year period, decreased approximately 5% for the quarter due to a reduction in “mega” project billings.

Sales activity in the Repair and Replacement market, also referred to as Maintenance, Repair and Operations (MRO), was down approximately 5% versus the prior year period, which was primarily due to the slow start in activity during the first two months of the quarter. Management also estimates that copper fluctuations had little or no impact on revenues during the quarter.

While gross margins fell slightly on a sequential basis, the resulting 22.4% was still higher than the prior year period and continued the recent upward trend.

Operating expenses increased 1.7% or $0.2 million from the prior year period, primarily the result of costs associated with a higher headcount and higher levels of consulting and professional fees. The sequential increase in sales, coupled with our continuing focus on expense control, moved operating margins up 110 basis points sequentially to 7.2%. The resulting operating income at $6.8 million was up 28.2% sequentially.

Interest expense of $0.3 million was lower than the prior year period, as average debt levels fell from $55.4 million in 2011 to $47.6 million in the first quarter of 2012 and the effective interest rate declined from 2.3% in 2011 to 2.1% in 2012. The effective tax rate for the quarter of 38.6% remained in line with the 2011 annual rate, but was up slightly from the 38.4% level in 2011, primarily due to the impact of higher state income taxes.

Net income increased sequentially by 31.6% to $4.0 million, showing the leverage of our model. Diluted earnings per share were $0.23, compared to the $0.17 on a sequential basis.

Conference Call

The Company will host a conference call to discuss first quarter results on Thursday, May 10, 2012 at 10:00 a.m., C.T. Hosting the call will be James Pokluda, President and Chief Executive Officer and Nicol Graham, Vice President and Chief Financial Officer.

A live audio web cast of the call will be available on the Investor Relations section of the Company’s website, houwire.com.

Approximately two hours after the completion of the live call, a telephone replay will be available until casino online May 17, 2012.

Replay Dial In: 855.859.2056
?International Replay: 404.537.3406
?Confirmation Code: 77394778

About the Company

With over 35 years experience in the industry, Houston Wire & Cable Company is one of the largest providers of wire and cable in the U.S. market. Headquartered in Houston, Texas, the Company has sales and distribution facilities strategically located throughout the nation.

Standard stock items available for immediate delivery include continuous and interlocked armor, instrumentation, medium voltage, high temperature, portable cord, power cables, private branded products, including LifeGuard™, a low-smoke, zero-halogen cable, mechanical wire and cable and related hardware, including wire rope, lifting products and synthetic rope and slings.

Comprehensive value-added services include same-day shipping, knowledgeable sales staff, inventory management programs, just-in-time delivery, logistics support, customized internet-based ordering capabilities and 24/7/365 service.

Forward-Looking Statements

This release contains comments concerning management’s view of the Company’s future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and projections about future events may, and often do, vary materially from actual results.

Other risk factors that may cause actual results to differ materially from statements made in this press release can be found in the Company’s Annual Report on Form 10-K and other documents filed with the SEC. These documents are available under the Investor Relations section of the Company’s website at houwire.com.

Any forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation to publicly update such statements.

Click here for full report

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Source: Marketwire

Integra Telecom Appoints Ken Smith as Executive Vice President of Sales

By admin, April 25, 2012 3:09 pm

Integra Telecom Inc., a provider of fiber-based, business-grade networking, communications and cloud solutions, recently announced that it has appointed Ken Smith as executive vice president of Sales. A 30-year veteran of sales in the telecommunication industry, Smith will be responsible for preparing and implement ing sales strategies in order to drive the company’s revenue and further expand its operations in unexplored territories.

Smith has held various leader positions in companies like CenturyLink, Inc at ICG Communications, Inc., Broadwing (News – Alert) Communications, LLC, MCI Worldcom, and AT&T. At Integra, he will replace Karen Clauson and will report to Kevin O’Hara, CEO of the company.

“The executive vice president, sales position will serve as a critical element to Integra’s management team and sales organization. We’re pleased to have an industry veteran like Ken fill this role,” said Kevin O’Hara, chief executive officer of Integra Telecom (News – Alert). “Ken’s vast telecommunications and leadership experience will prove invaluable in driving the company’s sales and revenue growth.”

Integra Telecom connects businesses by providing enterprise-grade networking, communications and cloud solutions to business and carrier customers in 35 markets 11 Western states, including Arizona, California, Colorado, Idaho, Minnesota, Montana, Nevada, North Dakota, Oregon, Utah and Washington. The company delivers a full range of managed network services over its reliable and secure network, including Ethernet and transport data networking, a comprehensive suite of enterprise voice services, high speed Internet, VPN and security solutions.

In related news, Integra Telecom Inc., recently unveiled Wavelength Services, which offers high-bandwidth transport and point-to-point connectivity for business continuity, disaster recovery and long-distance data center networking. Thanks to the services, wholesale and enterprise customers now have a scalable, fully managed, end-to-end optical solution.

Officials with Integra pointed out that Wavelength Services are ideal for carriers and multi-location business customers, such as those within the healthcare and financial industries, who require high-speed, point-to-point network connectivity up to 10Gbps between offices, data centers or disaster recovery facilities.

Edited by Jennifer Russell

Zayo Group Looks to Extend Fiber Optic Network with AboveNet Acquisition

By admin, March 19, 2012 3:50 pm

In an effort to expand its high-bandwidth fiber optic footprint, privately-held Zayo Group (News – Alert) on Monday agreed to acquire fellow network operator AboveNet for around $2.2 billion.

AboveNet chief executive Bill LaPerch said that combining the assets of the two telecom companies will enable Zayo to meet the expanding bandwidth needs of its enterprise and carrier customers.

The all-cash offer of $84 per share represents a 13 percent premium over AboveNet’s closing price on Friday, and more than 20 percent more than the average trading price over the last two months. AboveNet shares gradually climbed in recent weeks after rumors of a potential sale began to circulate. Shares are up more than 13 percent on the day.

Bloomberg (News – Alert) reports that Zayo is paying 11 times AboveNet’s earnings before interest, taxes, depreciation and amortization – significantly less than the median of 16 in the previous five deals involving Internet services companies.

To help finance the deal, Zayo received fresh capital commitments from private equity firm GTCR and current investor Charlesbank Capital Partners. Colorado-based Zayo held around $26 million in cash and short-term investments as of the end of 2010.

“We have been looking for opportunities to make investments in the bandwidth infrastructure space and believe the exceptional leadership and assets of the combined company creates an excellent opportunity for our firm,” Phil Canfield, Principal at GTCR, noted in a statement.

In an interesting twist, AboveNet is given a 30-day “go shop” period, in which they are allowed to enter into alternative acquisition discussions with other parites. En av fordelarna med slots spel och andra spelautomater online online ar just de manga fina erbjudanden som delas ut av natcasinon.. Zayo retains the right to match any offer that AboveNet receives.

However, the chances are good no other party steps in to make a competing offer. AboveNet reportedly put itself on the block last year but then halted the search for a buyer after no one met its $80 per share minimum asking price, sources close to the situation told Bloomberg.

The deal is expected to close in mid-2012, pending customary approvals. Alternatively, when resume is called it evaluates to the arguments passedto the next buy-detox.com ..

Edited by Jennifer Russell

Encore Wire Presenting at Sidoti & Company’s Institutional Investor Forum

By admin, March 13, 2012 5:47 am

Tuesday, Mar 13, 2012

Encore Wire Corporation (NASDAQ Global Select: WIRE) announced today that the Company’s Chief Financial Officer, Mr. Frank J. Bilban, will be presenting at Sidoti & Company’s Sixteenth Annual New York Institutional Investor Forum on Monday, March 19th, at 9:20 a.m. Eastern Time.

Daniel L. Jones, President and Chief Executive Officer of Encore Wire Corporation, said, “We are pleased to be presenting at Sidoti & Company’s Sixteenth Annual New York Institutional Investor Forum at The Grand Hyatt Hotel in New York. The Sidoti conferences draw hundreds of institutional investors from across the country. We have presented at their conferences in the past and look forward to meeting with numerous investors at this conference.”

Encore Wire Corporation manufactures a broad range of electrical building wire for use in interior wiring in commercial and industrial buildings, homes, apartments and manufactured housing.

The matters discussed in this news release, other than the historical financial information, including statements about the copper pricing environment, profitability and shareholder value, may include forward-looking statements that involve risks and uncertainties, including payment of future dividends, future purchases of stock, fluctuations in the price of copper and other raw materials, the impact of competitive pricing and other risks detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission. casino online . Actual results may vary materially from those anticipated.

Source: Business Wire

Southern Telecom Aids Tower Cloud with Fiber Network Build-Out

By admin, February 16, 2012 5:35 am

Tower Cloud, a fiber optic and wireless backhaul network provider, has announced that is has picked Southern Telecom, a wholly owned subsidiary of Southern Company, for long-haul fiber optic services in the state of Georgia.

This new partnership will enable Tower Cloud to make use of Southern Telecom assets, to enhance its market value and also to speed development of new markets in Georgia and throughout its Southeast network. The company will also receive maintenance support and the ability to rapidly extend its network.

“Tapping Southern Telecom’s long-haul fiber solution will provide a critical link in Tower Cloud’s Ethernet backhaul network expansion,” said Ron Mudry, chief executive officer of Tower Cloud.

Mudry said that their expanded network will extend 4G LTE (News – Alert) broadband services to wireless customers in communities throughout south Georgia, providing blazing fast access and content delivery to their mobile devices.

Southern Telecom’s network in the Southeast is spread throughout Georgia, Florida and Alabama. It is a trusted resource for its service provider customers, offering 1,300 route miles of fiber optic connectivity.

“Tower Cloud is a strong addition to the Southern Telecom customer roster. We anticipate ongoing expansion of the network, as demand for more fiber will only increase,” said Leif Ericson, business development manager with Southern Telecom.

Leveraging pure Ethernet broadband technologies, Tower Cloud operates a fiber-focused network to backhaul voice, video and data from cell sites for wireless carriers.

TMCnet had previously reported that Tower Cloud announced the launch of its wireless backhaul infrastructure network for three wireless carrier 3G and 4G networks in Atlanta.

The company was also in the news for securing $49 million in additional equity to fuel expansion and growth of its 4G wireless backhaul networks.

Jyothi Shanbhag is a contributing editor for TMCnet. To read more of Jyothi’s articles, please visit her columnist page.

Edited by Jennifer Russell

General Cable Superconductor Successfully Tests Conductus 2G HTS Wire from STI

By admin, January 20, 2012 4:57 pm

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General Cable Corporation to Webcast Discussion of its Fourth Quarter 2011 Results

By admin, January 18, 2012 5:33 am

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Telx’ C3 Data Centers Selected by SunStream Networks

By admin, December 21, 2011 7:18 pm

Telx, a leading company offering advanced data center services, recently announced that its carrier-neutral C3 (News – Alert) Cloud Connection Center has been selected by SunStream Networks, a provider of private cloud network services over a fiber optic infrastructure.

SunStream will deploy C3 data centers in San Francisco to reduce application latency while boosting availability and uptime.

With C3 Cloud Connection Center, SunStream Networks is able to offer its customers affordable approach to private cloud computing, and save its customers typically 40-60 percent on the cost of traditional IT cloud infrastructure builds.

“Our colocation partnership with Telx gives SunStream Networks a competitive advantage in that we can deploy cross-connects to our customers faster and at a greater cost savings,” said Mark Graham, president and chief executive officer at SunStream Networks. “For example, before selecting Telx, we had to go through as many as five different companies and wait up to 45 days to deploy a single cross-connect for a customer.”

He added, “Now we order a cross-connect directly from Telx, who can quickly provision it at its C3 Cloud Connection Center in less than five days. That efficiency, in time to deployment, translates to a higher level of customer service.”

“Being able to deploy cross connects quickly and efficiently is paramount to delivering our services cost effectively,” Graham said. “Speed, efficiency and redundancy are very important to our success. htmThe first time most people think about healthcare in america is with their first car or home.. Along with this exam, the driver is to demonstrate how to inspect the vehicle and conduct a brake test prior to best-driving-school.com it.. The connectivity advantage we gain through our partnership with Telx enables us to bring our hosted cloud computing model to our customers at LAN speed, so we can deliver on the promise of cloud computing as a faster and more efficient way to work.”

He continued, “Also, with Telx we can assure our customers that their cloud-based data will never migrate outside of the U.S. and will remain in local pipes for the highest level of network performance.”

“Telx is proud to welcome SunStream Networks to our global ecosystem of cloud networking providers at 200 Paul Avenue,” said Darryl Brown (News – Alert), director of Cloud, Media and SaaS for Telx. “Within our secure, carrier-neutral C3 data center in San Francisco, SunStream Networks can quickly and conveniently build out its private cloud infrastructure and ensure the consistent, high level of performance its customers expect.”

Rahul Arora is a TMCnet contributor. best online casino . He has worked as an editor and freelance writer for several reputed organizations in India. To read more of his articles, please visit his columnist page.

Edited by Jennifer Russell