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Roth Capital is Positive on Multimedia Games

Posted by vanlalthlana | 31/03/09 | Tagged Multimedia

Justin Kuepper

Multimedia Games Inc. (NASDAQ: MGAM) shares opened lower despite positive comments out of an analyst. Roth Capital noted that, according to an Associated Press article, a judge ruled that the White Hall gambling center in Alabama, where the company owns 400 out of 950 total charity bingo games, can re-open without the threat of another raid by the Governor’s Task Force on Illegal Gambling. Despite the legal uncertainty, the firm continues to find shares undervalued and maintains a buy rating.

Multimedia Games’ earnings dropped to a loss in the fourth quarter of 2008 after the company saw lower gaming revenues and higher operating expenses, according to their 10-Q filing with the SEC. The cost of gaming equipment and systems rose from $790,000 to $1.8 million, while SG&A expenses rose $40,000 and amortization and depreciation rose $20,000. Combined, this led to a loss of $0.22 per share compared to $0.01 per share in 2007.

On the balance sheet, Multimedia Games has a strong cash position of $2.94 million, but has long-term debt of over $66 million. Given that the company has $143 million in shareholders’ equity, the debt load isn’t at a high level, but the lack of income in the long-term could pose problems down the road. However, many investors remain confident that the company can quickly return to profitability through a cost-cutting and restructuring program.

Multimedia Games announced late last year that it engaged in an ongoing review in order to reduce its annual SG&A expenses by $5 million. Meanwhile, the company also announced reductions in its headcount last month by about 16 percent. These changes should help the company reduce its expenses for the first quarter of 2009, while also aggressively moving forward with their plans for market expansion and gaming equipment sales.

Shares of Multimedia Games dropped $0.03, or $0.03, to $2.04 in mid-day trading.

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SUNNYVALE, Calif., Mar 30, 2009 (BUSINESS WIRE) ——Augments QuickLogic 2nd generation Visual Enhancement Engine (VEE: undefined, undefined, undefined%) Proven System Block (PSB: 35.15, -0.63, -1.76%) with Micron CellularRAM(R: 26.93, -1.33, -4.71%) framebuffer to enhance display viewability while lowering system power

Demonstrating its continued commitment to providing innovative solutions to the mobile device market, QuickLogic Corporation (NASDAQ:QUIK) today announced that it has chosen Micron Technology, Inc., for its CellularRAM mobile memory technology. QuickLogic has chosen Micron’s CellularRAM technology to serve as the framebuffer in its latest ArcticLink II VX4 solution platforms. By using the CellularRAM framebuffer, the ArcticLink II VX family enables designers to use lower cost displays without integrated framebuffers. The QuickLogic solution refreshes the display directly, allowing the mobile processor to be turned off, resulting in increased battery life.

CellularRAM memory devices are a hybrid of the SRAM and DRAM features, combining low power consumption with high-speed read and write functions. QuickLogic chose Micron’s CellularRAM technology, developed specifically for handset and mobile devices, because of its power efficiency as well as its scalability in terms of cost and density. “We were able to use the appropriate memory density for the application and use case requirements of the fast-growing handheld and mobile device market,” said Brian Faith, QuickLogic’s vice president of worldwide marketing.

For Micron, working with QuickLogic reinforces the company’s commitment to memory innovation for the mobile market. “We are excited to be working with QuickLogic to support their innovative application with our CellularRAM technology,” said Eric Spanneut, director of mobile memory marketing for Micron. “This new use case creates significant opportunities for Micron in a high-growth segment of the mobile device market.”

VX4 Family

QuickLogic developed the VX4 solution platforms in response to growing demand for its Visual Enhancement Engine (VEE: undefined, undefined, undefined%) technology among users of Qualcomm’s latest Mobile Station Modem(TM: 63.61, -1.87, -2.86%) (MSM(TM: 63.61, -1.87, -2.86%)) MSM7xxx-series and MSM8xxx-series mobile processors, including the recently announced Snapdragon family. The VX family embeds the 2nd generation VEE PSB, a VESA-compatible MDDI PSB and programmable fabric. Micron’s CellularRAM serves as a 24-bit color depth framebuffer ranging from Wide QVGA (400×240) to Wide SVGA (1024×600) resolution.

The VEE PSB improves the user’s viewing experience while extending system battery life by allowing reduction in the energy use of a mobile device’s biggest consumer, the backlight. In addition to the high-performance features of Micron’s CellularRAM, the inherent low-power of the technology further reduces system power. According to Faith, “By moving the framebuffer from either the processor or display to the ArcticLink II VX solution platform, we can conserve processor power consumption when the display is showing static information such as graphical user interfaces, while avoiding costly framebuffer memory in the displays themselves.”

Availability

The ArcticLink II VX4 solution platforms will begin sampling to early adopters in August 2009, with general samples in September 2009, and are scheduled for production availability in December 2009. QuickLogic expects to be delivering Customer Specific Standard Products (CSSPs) based on the platforms to lead OEMs and ODMs in the same timeframe.

About QuickLogic

QuickLogic Corporation (NASDAQ:QUIK) is the inventor and pioneer of innovative, customizable semiconductor solutions for mobile and portable electronics OEMs and ODMs. These silicon plus software solutions are called Customer Specific Standard Products (CSSPs). CSSPs enable our customers to bring their products to market more quickly and remain in the market longer, with the low power, cost and size demanded by the mobile and portable electronics market. For more information about QuickLogic and CSSPs, visit www.quicklogic.com.

(C: 2.35, -0.29, -10.98%)2009 QuickLogic Corporation. All rights reserved.

QuickLogic is a registered trademark, and the QuickLogic logo is a trademark of QuickLogic Corporation. CellularRAM is a registered trademark of Micron Technology, Inc., inside the U.S. and a trademark of Qimonda AG outside the U.S. All other brands or trademarks are the property of their respective holders and treated as such.

Code: QUIK-G

SOURCE: QuickLogic Corporation

   QuickLogic Corporation
   Andrea Vedanayagam, 408-990-4000
   Director, Corporate Communications
   andrea@quicklogic.com
Copyright Business Wire 2009

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Apple filing details safe touch-screen navigation system

Posted by vanlalthlana | 31/03/09 | Tagged Input Devices

By Sam Oliver

An interesting but at times erratic patent filing from Apple published for the first time this week describes a proprietary in-car navigation system focused on maintaining driver safety while a vehicle is in motion.

The 11-page filing starts off by noting that the use of a conventional navigation system in a moving vehicle often raises safety concerns, particularly if the driver of the vehicle is attempting to operate the navigation system while simultaneously operating the vehicle.

“Many navigation systems use knobs and pushbuttons for entering destination and other information for use in determining driving directions,” Apple says. “The accurate use of such input devices may force the driver to take her eyes off the road, resulting in a potentially hazardous condition.”

The company goes on to explain that conventional solutions to this safety problem detect when the navigation system is being operated while the vehicle is moving and display a warning message notifying the user that operating the navigation system while the vehicle is moving is dangerous.

“Some conventional solutions may request that the user acknowledge the warning by pressing a pushbutton, for example. Once acknowledged, the navigation system typically becomes operable to the driver,” the filing says. “Also, there are few safety concerns with a passenger in the vehicle operating the navigation system while the vehicle is moving. For passengers, the warnings may be unnecessary or irritating, and locking down the operation of the navigation system would prevent the passenger from operating the navigation system regardless of whether it was safe to do so.”

Apple’s solution to the problem calls for a smarter touchscreen-based navigation system that may be either a self-mounted handheld device like an iPhone or one that’s hardwired into the car. Either could tie into various forms of sensors and I/O devices such as a speaker and a microphone to facilitate voice-enabled functionalities, such as navigation, stereo, and phone functions. A loud speaker could also be included to facilitate hands-free voice command functionalities, such as voice activated entry for requesting driving directions.

However, the heart of the filing is focused on assuring that drivers don’t distract themselves while driving by fidgeting with the touch-screen. It details numerous methods of locking down the system while a vehicle is in motion, or, alternatively, authorizing only the front seat passenger to control the system.

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The Insignia digital camcorder obviously isn’t going to be the most amazing HD camera, but it’s a pretty good one if you’re on a budget.

Product: Insignia 5-megapixel high-definition digital camcorder.

Features: Has 8x digital zoom and records video in 720p high definition. Also takes still photos, records audio and plays MP3s. Has a three-inch LCD swivel screen. Comes with USB, A/V and HDMI cables, as well as a wall charger, wrist strap and carrying pouch.

Price: List price is $149.99. On sale at Best Buy for $127.49

Ups: Real simple to take video and photos with it, and the quality was pretty good. Has plenty of options for creative effects, like shooting in black and white, sepia, or putting a cartoon border around a photo. I had no problem connecting it to my computer and saving the videos.

Downs: It says it has 64 megabytes of internal memory. After taking four really short videos and eight photos, the camera said there wasn’t enough internal memory to take any more video. When I got home and added up the size of the files, I had used only about 33 megabytes. But that bummer can be easily fixed if you throw in an SD card to expand the memory.

I also had a hard time figuring out what button to press to get to the menu options screen to change settings or delete a file. The quick start booklet was no help. It wasn’t intuitive and I had to pop in the CD and read the digital instructions to figure it out.

Bottom line: Overall I really liked it. It’s obviously not going to be the most amazing HD camera, but it’s a pretty good one to buy if you’re on a budget.

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Rave Computer, based in Sterling Heights, said last week it will be the information-technology systems integrator and sole provider of industrial computers for the Valentine Robotics Vision & Systems Group, also in Sterling Heights.

Rave has developed advanced technology solutions and configured five base systems, designed to be cost-effective and provide optimal performance to Valentine’s end robotics products.

“Rave Computer’s partnership with Valentine further solidifies Rave’s presence in the IT integration market,” said Joe Borowicz, chief financial officer, Rave Computer.

Valentine Robotics benefits by having a local partner that can be leveraged for its IT knowledge.

X-Rite to aid institute

X-Rite Inc., the world leader in color management, measurement and communication technologies, has announced that it is partnering with Clemson University’s new Sonoco Institute of Packaging Design and Graphics to provide the school’s students, faculty, research staff and corporate partners with the technology and knowledge resources to pursue education and spearhead research in packaging science and technology.

X-Rite will assist with every facet of color reproduction, from inspiration and design to output, for projects that represent real-world packaging workflows.

The new institute, which will open Tuesday, establishes the nation’s first formal collaboration between the disciplines of packaging science and graphic communications.

As the new think tank for the packaging industry, the institute will provide a focus on innovation for the next generation of packaging professionals and will place Clemson University among the institutions serving the future of the printing and packaging industries.

“The Sonoco Institute at Clemson is poised to be the one of the most color-controlled facilities in the industry, and X-Rite’s solutions are key to our success. From the tight calibration of all the projectors, displays and monitors, to the digital calibration of plates and color formulation quality control, X-Rite’s solutions will play a crucial role at every step,” said Chip Tonkin, director of the Sonoco Institute.

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Fred’s focuses on consumables, posts profit

Posted by vanlalthlana | 30/03/09 | Tagged Consumables

By Cecile B. Corral

Memphis, Tenn. – Showing modest but consistent growth rates over other more discretionary merchandise areas, the consumables category and pharmacy remain focal points going forward at Fred’s Inc. with expanded product assortments and allocated space in the works in 2009.

The 663-unit regional discount department store chain, which operates in 15 Southeastern states, said that the company is avidly exploring new store layouts that better position consumables and the in-store pharmacy this year, executives said during its fourth-quarter and yearend earnings call today with analysts.

Bruce Efird, president and who also became the chain’s ceo in February, said Fred’s has a pilot program for updating the store layout. Changes include switching to a single automatic door entrance, an uncluttered customer space, wider aisles, relocating pharmacy to the front, giving added exposure to seasonal merchandise, and anchoring the store corners with “strong traffic-generating departments to improve traffic flow.” He said of the latter, “this includes expanded consumables with an emphasis on food expansion.”

For the fourth quarter ended Jan. 31, Fred’s posted a profit of $2.3 million, or 6 cents per share, versus of loss of $4.4 million, or 11 cents per share, in the prior 4Q. Sales fell 5% to $494.1 million, primarily due to the closings of a net 55 stores and 12 pharmacies.

Profit for the fiscal year jumped 55% to $16.6 million, or 42 cents per share. Sales rose 1.1% to $1.8 billion.

For the year, food and tobacco comprised 15.5% of sales mix, a step up from the prior year when the category made up 14.2%. For the quarter, food and tobacco rang in 15% of the sales mix, compared to 13.8% in the prior fourth quarter.

But just as food and consumables grew, soft lines – which includes apparel — shrank as a portion of sales. For the year soft lines decreased to 8.6% from 9.9% the previous year, and in the fourth quarter also sank to 8.8% from 10% the same period in 2007.

Efird is one example of recent leadership shifts for 2009. Fred’s recently implemented new leadership in several areas, including merchandising, marketing, real estate, store operations and store development. Leadership shifts include internal realignments, expanded existing roles and new outside talents.

“This realignment of responsibilities and new talent is bringing new energy into our organization,” Efird said.

Like many of its competitors, Fred’s is approaching its 2009 real estate plans more conservatively than in the past. New store openings include 12 to 16 new units and 10 to 14 new pharmacies, as well as an accelerated remodel program – which includes expanded consumables departments — that calls for updating 30 stores.

Closings this year will range from three to 10 stores and 5 to 15 pharmacies

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Poor business software costs £64bn a year: survey

Posted by vanlalthlana | 30/03/09 | Tagged Business Software

By Steve Evans

UK business should learn from consumer tech, says report

Business software that is difficult to use is costing UK firms an estimated £64bn a year, equivalent to 2.8 billion wasted hours, according to a new report by e-document and printing software vendor Global Graphics.

The majority (77%) of respondents said they found business software difficult to use, citing too much functionality and a lack of training as their primary concerns. The survey found that workers want software developers to put more effort into making their products easier to use.

UK workers find consumer technology such as iPods, digital TV and games consoles much easier to use than office applications.

Gary Fry, CEO of Global Graphics, said that business software developers could learn a lot from the consumer space. “Organisations invest millions on training their employees how to use business software. Yet employees are using Facebook, MySpace, iPhones and digitalising their music without any training at all.

“Consumer technology companies make money by attracting as many users as possible and that means making products easy to use. By making business software as easy to use as consumer technology, employees are more efficient and less frustrated while companies benefit from lower training costs and higher productivity,”

Unintuitive software is costing 69% of UK workers up to an hour a week, while 23% claim to be losing up to five hours every week. According to Global Graphics, this equates to £64bn a year in lost revenue. An average of 111 minutes is wasted every week, which represents 5.1% of the working week. 5% of the UK’s 2008 GDP works out at £63.758bn.

Fry said: “The warning to developers of business software is clear; take a leaf out of the consumer world and make your software easier to use. Make sure it quickly and easily does exactly what the user wants, and focus on that instead of adding more and more features and functions that only a handful of ‘power-users’ will ever need.”

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