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mmO2 on Thursday announced that its UK business, BT Cellnet, has signed a 10-year strategic IT agreement with IBM, worth up to STG50 million in its first year. BT Cellnet aims to build better customer service and business support capability, and has chosen IBM Global Services to design, build and manage the IT systems infrastructure to support its development of voice, text and mobile Internet markets over the next decade. The first phase of the agreement will focus on the integration of existing systems during 2002, including the Genie mobile service and process support for customer care, e-payment, product and services development.
Altamedius, a provider of payment intermediation technology, said it has become the first Irish company to join the PayCircle Consortium, a global mobile commerce alliance founded by Hewlett-Packard, Lucent Technologies, Oracle, Siemens and Sun Microsystems. PayCircle was set-up earlier this year with the aim of providing mobile device users worldwide with a standard way of making mobile payments.
TheStreet.com announced its financial results for the quarter ended 31 March 2002, which included its fourth consecutive quarter of subscription revenue growth. Net revenue was USD4.1 million, while net loss under generally accepted accounting principles was USD3.7 million, or USD0.16 per share, for the quarter, comparing favourably with USD7.2 million, or USD0.26 per share for the first quarter 2001. Total cash burn in the first quarter 2002 was USD2.6 million, a decrease of 58 percent from the last quarter when it was USD6.1 million.
WBT Systems on Thursday announced that the Costa Rican telecommunications and utility company, ICE Telecommunicaciones, has implemented TopClass 6, the latest release of WBT Systems' TopClass eLearning Suite, to manage and deliver its entire e-learning programme.
EDS on Thursday launched E-vis 4.0, developed in conjunction with Microsoft on the .NET platform. E-vis 4.0 is advanced collaboration, conferencing, and visualisation software that can integrate with XML Web services based on industry standards. It allows for a community of users, including both technical and non-technical participants as well as supply-chain partners, to collaborate in product development globally and in real time.
Network Associates announced that for the first quarter ended 31 March 2002, consolidated net revenue was USD220.7 million. Excluding McAfee.com, Network Associates reported first quarter net revenue of USD201.9 million. On a consolidated basis, Network Associates' first quarter net earnings were USD15.8 million, or USD0.10 per share. The pro forma net earnings for the first quarter, excluding McAfee.com, were USD15.9 million or USD0.09 per share.
McAfee.com announced revenues for the fiscal first quarter 2002 of USD18.8 million, up USD5.9 million from the same period last year, representing year-over-year revenue growth of 46 percent. First quarter revenue increased slightly over fourth quarter revenues of USD18.6 million. Pro-forma net income for the quarter, excluding a credit related to stock-based compensation, the amortisation of intangibles and charges related to the tender offer, was USD3.9 million or USD0.08 per share. Net income for the quarter, including such charges, was USD5.5 million or USD0.11 per diluted share. McAfee also announced that it is finally recommending acceptance of the buy-out offer from Network Associates, which is worth USD225 million in stock.
Data storage company Iomega Corporation announced that its new line of network attached storage (NAS) file servers is now shipping in the US. The Iomega servers have capacities of up to 480GB and models that feature hot-swappable drives.
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