Key Developments For Ness Technologies, Inc.
Ness Technologies, Inc. (NSTC.O) (Nasdaq)
Pannon Awards Significant Deal to Ness Technologies, Inc.
Ness Technologies, Inc. announced that leading mobile telecommunications provider, Pannon (the Hungarian member of Telenor Group) has chosen Ness to deliver a strategic Customer Relationship Management (CRM) solution. The significant engagement is the first phase of what is expected to be a longer term relationship.
Ness Technologies, Inc. Wins $17 Million Land Registry Contract In Slovakia
Ness Technologies, Inc. announced that it has won a public tender to provide online land registry (cadastre) services to the Geodesy, Cartography and Cadastre Authority of the Slovak Republic. Ness competed on the tender in cooperation with a partner, DWC Slovakia, which will provide hardware for the deal, while Ness will provide intellectual property, software development, system integration and support services. Ness' portion of the three year deal is valued at EUR13 million, or $20 million, including VAT, which corresponds to EUR11 million, or $17 million, excluding VAT. Over the next 36 months, the engagement team will centralize Slovakia's currently distributed real estate cadastre information system, thus creating a unified and data-consistent source of land registry information.
Ness Technologies, Inc. Lowers FY 2009 Revenue Outlook; Sees FY 2009 EPS At Lower End Of Prior Outlook; Comments On Q4 2009 Revenue Outlook; To Restructure Some Small Business Units; To Incur Charge
Ness Technologies, Inc. lowered its fiscal 2009 guidance of revenues to the range of $540 million to $550 million to account for the Company's revenue shortfall in the third quarter 2009 and anticipated top line pressure in the fourth quarter 2009, both primarily attributable to the protracted deep economic recession in Europe. This revenue level implies diluted earnings per share (EPS) at the lower end of prior guidance of $0.40 to $0.60 for the 'business as usual' scenario for the fourth quarter. The Company intends to restructure some small business units which are not contributing due to their small scale, and also to restructure certain projects in order to expand profitability in the future. The Company expects to take a restructuring charge of $7 to $9 million. This charge is excluded from the Company's non-GAAP guidance. According to Reuters Estimates, analysts were expecting the Company to report revenue of $589 million and EPS of $0.46 for fiscal 2009; revenue of $169 million for the fourth quarter 2009.
Ness Technologies, Inc. Wins Tender With Israel Electric Corporation
Ness Technologies, Inc. announced that it has won, together with other companies, a tender to implement and test SAP systems at Israel Electric Corporation (IEC). Ness also won a tender for training and deployment of these systems. This is an expansion of an SAP deployment and implementation project completed by Ness for IEC a few months ago. The project is valued at tens of millions of Israeli Shekels. The project will include expansion and deepening of additional modules within the SAP system, including a working process management module in SAP Project Systems (PS) that will include, in the first phase, management of Emergency Economy projects as defined by the government, and will be expanded in the future to all projects, as well as a time reporting system that provides a complementary interface to PS. The modules that will be expanded also include a maintenance module for the IEC's production and transformation divisions, which will include the operation of IEC's power stations. The implementation, testing and training project will enable IEC to integrate several systems and modules into one SAP integrated system, saving cost and streamlining their working processes.
Ness Technologies, Inc. Launches ASM And The Sixth Sense
Ness Technologies, Inc. announced the launch of two systems that help fight terror and crime in urban areas. The first system is ASM - Area Smart Monitoring, and the second is The Sixth Sense, a system that identifies suspicious persons in an urban scene.
