HAWTHORNE, Nev., Aug. 23, 2017 /PRNewswire/ — The Nevada Governor’s Office of Economic Development (GOED) and the Nevada Institute for Autonomous Systems (NIAS) has teamed up with Microsoft’s Unmanned Aerial System (UAS) research team to test Artificial Intelligence (AI) in their 16 ½ -foot, 12 ½- pound sailplane.

Manpowered Sailplane launch

The sailplane that Microsoft is testing in Nevada relies on a battery to run onboard computational equipment and controls such as the rudder, plus radios to communicate with the ground. It also has a motor so that a pilot can take over manual operation when necessary.  But once it’s up in the air, the UAS demonstrated its ability to operate on its own, finding and using thermals to travel without the aid of the motor or a person.

Simple and complex Unmanned Aerial System (UAS) testing was conducted at the Hawthorne Advanced Drone Multiplex (HADM) Test Range located at Hawthorne, Nevada.  HADM is a 230-square mile area where a variety of UAS applications can be tested including AI.  NIAS manages the FAA-designated Nevada UAS Test Site which includes HADM and other UAS test ranges across Nevada.  The Microsoft operation was based at the Hawthorne Industrial Airport where preliminary tests were made.  Subsequent tests were conducted at an area east of Walker Lake around six miles from the airport.  The team flew three different sail planes that reached an altitude of approximately 1700 feet flying almost two dozen Nevada UAS Test Site Certification of Authorization (COA) flights from August 7-11, 2017. 

“Innovative AI technology like what Microsoft tested with NIAS is clearly where the most dramatic global UAS Industry disruptions will occur.  When you think of artificial intelligence or AI, there are many perspectives on the value-add to the UAS Industry.  Very evident to me, developing and testing AI, or machine learning technology, is going to have multiple applications that will significantly benefit the UAS Industry and the American way of life.  This is one of the most exciting developments I have seen over the past several years in Nevada and globally,” said Dr. Chris Walach, Director of the FAA-designated Nevada UAS Test Site.

“Microsoft researchers have created a system that uses artificial intelligence to keep the sailplane in the air without using a motor, by autonomously finding and catching rides on naturally occurring thermals, like how wild birds stay aloft.  Birds do this seamlessly, and all they’re doing is harnessing nature and they do it with a peanut-sized brain,” says Ashish Kapoor, a principal Microsoft researcher.

Nevada wholeheartedly supports the growth of the Unmanned Aerial System industry, and teaming with global technology leader Microsoft to perform these Nevada-based tests speaks to our leadership role with the global community.  Governor Sandoval and our Legislature expect us to engage in the growth of transformative technologies and I am grateful for the opportunity afforded by Microsoft to team and to do just that,” said Tom Wilczek, Industry Specialist for the Nevada Aerospace and Defense Industry for the Governor’s Office of Economic Development.

About GOED: Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and Governor Brian Sandoval to restructure economic development in the state. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development. More information on the Governor’s Office of Economic Development can be viewed at www.diversifynevada.com

About the Nevada Institute for Autonomous Systems (NIAS): On behalf of the Nevada Governor’s Office of Economic Development, NIAS helps to grow the Nevada Unmanned Aerial Systems (UAS) Industry through business teaming, collaborating with primary research institutions on UAS research and development, and enhancing the Nevada UAS Industry knowledge base to attract new and permanent business, create jobs in the State of Nevada, and help facilitate full and safe UAS integration into the National Airspace System.  Learn more at www.nias-uas.com or www.flynevada.com

 

 

AI controlled Sailplane in action

NIAS - Microsoft Collaboration

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SOURCE Nevada Institute for Autonomous Systems (NIAS)

BRISBANE, Calif., Aug. 23, 2017 /PRNewswire/ — Pramata, the leading commercial relationship operations company, today announced its Summer ’17 Release which features a new suite of applications that leverage machine learning and built-in analytics to gain valuable new insights from customer, partner and supplier data. By combining a software platform and human-assisted artificial intelligence (AI), Pramata customers can now quickly operationalize commercial relationship data and deliver it to sales, legal, and finance teams to maximize revenue, compliance, and operational efficiencies. In addition, new visualization capabilities and dashboards bring the data to life in a way that highlights new revenue moments, and is easily shared and pushed across teams and business functions.

“The first company to create a solution that scales and enforces contracts compliance with artificial intelligence is going to revolutionize post sales commercial relationships the same way the Sales Force Automation Platform vendors revolutionized lead and funnel management,” said Dana Therrien, Research Director, Sales Operations Strategies at SiriusDecisions.

“The magic of Pramata is that they give me the data I need, pulled from my customer contracts and systems across my business, to drive revenue and reduce risk,” said Dan Carr, Vice President of Sales Operations, Comcast Business. “The new dashboard and visualization features in the Summer ’17 release will help us move even faster and gain even more customer value.”

“Most software products give you tools and then ask you and your teams to do all the work populating the tools with your data,” said Justin Schweisberger, Pramata’s Chief Product Officer. “Pramata is the only business application that combines the software platform, analytics and normalized customer data to make an immediate business impact and capture each revenue moment. The addition of human-assisted AI ensures customer data is always complete, accurate and up-to-date, and our new applications solve targeted business problems resulting from gaps in the customer lifecycle.”  

New Suite of Analytic Applications
Pramata was designed to help large enterprises grow their most valuable commercial relationships by unlocking critical information in existing contracts and combining it with data from business systems such as CRM, CPQ, CLM and billing. Deployed in dashboards targeted toward specific business problems, the new application suite allows for better management of commercial relationships data and more focused, actionable decision-making. The first set of applications available are:

  • Renewal Manager, which proactively manages renewals and expirations to drive revenue retention and expansion. It identifies true expiration dates from across multiple contract-related documents and ensures accurate renewals by identifying and adhering to contract-specific renewal notice periods and notification requirements. It automatically notifies account teams and key stakeholders of upcoming trigger dates via email alerts and social messaging tools.
  • Revenue Opportunity Manager, which enables customers to maximize revenue and profit, and align pricing strategy based on financial terms in contracts.  It supports reporting on contract non-performance to drive profitable renegotiations and renewals and gives visibility into rebate payment trends and sales volume trends.  It also allows execution of accurate price increases (CPI, performance, and usage-based) and penalty assessments across the customer base.
  • M&A Integration Manager, which enables customers to leverage contract and transactional information to accelerate merger and acquisition integration.  It identifies gaps and overlaps in the customer base and products sold across the entities to be merged.  It also allows for identification of risky and non-standard provisions in acquired entities’ contracts and rapidly identifies contracts to be renegotiated or terminated.  Finally, it allows customers to drive rapid operational integration of newly acquired customers.
  • Risk Scoring Manager, which allows customers to quantify, measure and minimize risk in trading-partner relationships. It supports assignment of risk scoring to multiple provisions per contract and enables the implementation of a compound weighted risk score and risk heat map to identify risky contracts. It also helps drive the process to systematically identify and eliminate or minimize risky terms during contract renegotiations, minimizing corporate risk.
  • Commitment & Entitlement Tracker, which allows customers to track performance of trading partners against operational metrics defined in contracts. It supports tracking and measuring purchase/billing performance against purchase volume, purchase ratio and market share commitments and enables tracking customer-specific royalty payment requirements as stipulated in contracts. It also enables tracking of customer-specific rebate tiers and percentages as well as transactional overage data to support the assessment of overage charges.

The Summer ’17 Release also includes a highly secure customer-specific quoting application that can be deployed within Pramata customers’ configure price quoting (CPQ) platforms. The enhancements allow sales professionals to better find contracts, terms, and pricing directly in their CPQ systems during the quoting process.

Pramata’s approach to digitizing commercial contracts is centered around analytics and human-assisted AI, which takes the benefits of automation technology and merges them with expert institutional knowledge. These two factors are essential to accessing high quality data needed for companies to maximize the benefits of AI. The Summer ’17 Release further expands Pramata’s roots within the human-assisted AI method with enhanced capabilities such as such as integrated QA, rapid AI training, and an expanded data set.  

Transitioning to Amazon AWS
In addition to the Summer ’17 Release, Pramata also announced that over the next few months, it is transitioning its cloud operations to Amazon AWS, fully adopting virtualization as its primary cloud strategy. With its data and software being used by more companies, across more systems, the move provides Pramata access to the plethora of managed services by AWS. It will also result in a Pramata cloud that is even more performant, stable, and scalable.

World-class brands, including CenturyLink, Comcast Business, FICO, HPE, NCR, Novelis, Medtronic and Vertafore have chosen Pramata’s platform to grow value throughout the customer lifecycle and position themselves for future business transformation. Many of these companies have seen an average increase in customer retention of 4.5 percent and an increase in revenue by millions of dollars per year using Pramata’s platform.

Availability
Pramata’s Summer ’17 Release and the new Analytic Applications are available as an invite-only beta for current customers today, and will become available to the remaining install base over the next six months. Learn more about the Pramata Summer ’17 Release https://www.pramata.com/summer-17-innovations.  

About Pramata
Headquartered in Brisbane, Calif., with offices in Kansas City and Bangalore, Pramata digitizes and operationalizes the details of commercial relationships for maximizing revenue, reducing risk and driving business efficiencies for the world’s largest enterprises. For more information, visit www.pramata.com.

Elise Chambers
Bateman Group, on behalf of Pramata

echambers@bateman-group.com

 

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SOURCE Pramata

LOS ANGELES, Aug. 23, 2017 /PRNewswire/ — Open Influence, a data-driven global influencer marketing company, today announced the launch of its OpenWorks platform, which offers a suite of tools designed to accommodate the needs of smaller brands and those new to influencer marketing.

 (PRNewsfoto/Open Influence)

The new offering allows users to access Open Influence’s proprietary technology stack that leverages Amazon Rekognition and other artificial intelligence tools to analyze more than 70 million pieces of content from over 300,000 influencers. With more than 15 million unique search terms, Open Influence’s self-serve platform enables brands to identify new influencers, and build their own influencer community around their specific needs.

Expanding upon Open Influence’s client base of large brands including Bose, Coca-Cola, Disney, Nestle, Puma, Toyota, Verizon and more, the OpenWorks platform was created to meet the growing demand from brands with limited budget and influencer marketing experience.

“We’ve received so much interest from small and mid-sized advertisers that don’t have the resources or otherwise aren’t a fit for our full-service offering, and launching a self-serve platform seemed like the best way to make influencer marketing accessible to those companies.” said Eric Dahan, co-founder and chief executive officer of Open Influence.”We look at it as a community building tool that allows brands to build and manage their key influencer relationships directly.”

Open Influence is headquartered in Los Angeles with offices in San Francisco, Chicago, New York, Milan and London, and plans to open offices in Hong Kong and the United Arab Emirates in the coming months.

For more information on Open Influence and its portfolio of services please visit www.openinfluence.com.  

About Open Influence
Open Influence is a data-driven global influencer marketing company that helps brands and advertisers engage and grow their desired audiences through social media. Open Influence is both platform and talent agnostic, and works with the entire spectrum of influencers; from social celebrities to micro-influencers. The company’s proprietary platform boasts the industry’s largest collection of influencer data, and leverages machine learning and image recognition to analyze more than 70 million pieces of content from over 300,000 influencers and counting. Open Influence provides customized end-to-end influencer marketing solutions for brands on both an entirely outsourced and a-la-carte basis. Its team collaborates closely with every client to develop award-winning creative strategies, and its advanced audience analytics allow brands to target based on location, education, age, gender, consumer preferences and more. Headquartered in Los Angeles with satellite offices across the globe, Open Influence offers support in 15 languages and has managed campaigns for top brands from a variety of industries including Bose, Coca-Cola, Disney, Nestle, Puma, Toyota and Verizon.

Media Contact
Troy Marderosian
(310) 777-7546
openinfluence@pmbcgroup.com

 

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SOURCE Open Influence

Stock Market Symbols
GIB (NYSE)
GIB.A (TSX)
www.cgi.com/newsroom

HELSINKI, Finland, Aug. 22, 2017 /PRNewswire/ – CGI (NYSE: GIB) (TSX: GIB.A) today announced an all-cash tender offer of €4.55 per share to acquire through its wholly owned subsidiary CGI Nordic Investments Limited, all outstanding shares of Affecto Plc, a leading provider of business intelligence and enterprise information management solutions and services. Affecto's Board of Directors is unanimously recommending that its shareholders accept CGI's offer, which represents a total price of €98 million, or approximately C$146 million, a 29.3% premium to its closing price on August 21, 2017. The company currently trades under the symbol AFE1V on the Nasdaq Helsinki exchange. The tender offer is subject to a number of conditions, including approval by the relevant regulatory authorities, such as competition authorities, and CGI gaining control of more than 90% of the outstanding shares of Affecto. The transaction is expected to close in Q1 F2018.

Adding to CGI's recognized digital expertise in analytics and data science, Helsinki-based Affecto would bring more than 1000 highly-skilled professionals from across 18 offices in Finland, Sweden, Norway, Denmark as well as Poland, Latvia and Lithuania. With robust strategic consulting, system integration, cloud, data analytics and digital transformation capabilities, Affecto will further complement CGI's global expertise across several in-demand digital transformation areas. Over the last twelve months, Affecto has generated revenue of €119.8 million.

"The offer to merge with Affecto aligns with CGI's plan to profitably double the company in five to seven years through a combination of acquisitions and organic growth," said George D. Schindler, CGI President and Chief Executive Officer. "In turn, for the benefit of our respective clients, CGI brings Affecto depth and end-to-end capabilities, including access to a network of global and onshore delivery centers, robust intellectual property portfolio, managed services and high-end IT consulting. We will continue to implement an established build-and-buy strategy that adds to our strength in the Nordics and around the globe."

"We look forward to welcoming Affecto professionals into the CGI family as member-owners, sharing and collaborating as highly skilled innovators that are focused on delivering value to clients," said Heikki Nikku, CGI President of Nordics operations. "By merging with the global reach and resources of CGI, the powerful combination creates unique career opportunities for CGI professionals in the Nordics as we pursue profitable future growth together."

About CGI in the Nordics
With nearly 8,000 professionals in 55 offices across Denmark, Estonia, Finland, Norway and Sweden, CGI has a strong local presence across the Nordic IT services market. With a deep commitment to being the best in our industry across the Nordics and around the world, CGI serves as a market leader in end-to-end IT and business consulting services, solutions and outsourcing services. CGI's Nordic operation serves thousands of clients in public and private organisations to help them achieve operational efficiencies while harnessing innovation to better serve the digital needs of their customers and citizens

This press release is not intended to form the basis of any investment decision. It does not constitute an offer or invitation for the sale or purchase of any securities, businesses and/or assets or any recommendation or commitment by CGI or any other person and neither this press release, nor its contents nor any other written or oral information made available in connection with the transaction shall form the basis of any contract. This press release has been prepared without reference to the particular investment objectives, financial situation, taxation position or particular needs of the reader.

About CGI
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 70,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as 150 IP-based services and solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com.

About Affecto
Affecto is a Northern European full-stack data house with expertise in data intensive technologies. Their expertise ranges from enterprise information management to artificial intelligence. Affecto creates business value for its customers by helping them become data driven, thus transforming their businesses. Affecto has long term, committed customer relationships with a large number of essential Northern European companies as well as public institutions. Affecto has a local presence with 18 offices forming a powerful grid, and is a unique home for our 1000+ employees.

Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are "forward-looking information" within the meaning of Canadian securities laws. These statements and this information represent CGI's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving IT industry; general economic and business conditions; foreign exchange and other risks identified in the press release, in CGI's annual and quarterly Management's Discussion and Analysis ("MD&A"), in CGI's Annual Report, in CGI's Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in the Company's Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The words "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan," and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.

 

SOURCE CGI Group Inc.

Customized Keyboard Themes and Stickers Are Now Available on the FC Barcelona Mobile Keyboard App

SAN JOSE, Calif., Aug. 22, 2017 /PRNewswire/ — FC Barcelona Keyboard, the new Keyboard App of FC Barcelona, will be available today. The app has been developed by Kika, a leader in mobile communications. The FCB Keyboard app will be offering Barça fans a novel way to celebrate their team and moments with stickers and customized keyboard themes. Featuring your favorite players from FC Barcelona, imagine boasting to your friends when Messi scores a goal! While nothing is more satisfying than bragging to your friends on how your team is better by using the customized stickers, the FCB Keyboard is more than that. It also has ability to get team related news real-time.

“We are always aspiring to be the best ambassador for football in the Digital World,” said Russell Stopford, Digital Director, FC Barcelona. “In FC Barcelona we are always looking for new and creative ways to engage our fans. The Barca mobile keyboard app is a fun way for fans to interact while watching coverage of our games.”

FC Barcelona partnered with Chinese company, Kika Tech to develop this new and amazing app. Kika’s mission is to provide users with a seamless mobile experience that allows them to freely express their ideas. The Kika ecosystem includes its award-winning, Kika Emoji Keyboard app, which has received Google’s Best of 2016 and Top Developer in 2015. Kika partnerships include Huawei, ZTE, 20th Century Fox and Warner Bros., amongst others. Kika has also been ranked a top productivity app in more than 77 countries. With 400M downloads and 60M MAU, it’s not surprising that leading mobile manufacturers and movie studios partner with the company.

“A major way that fans communicate is through stickers.” said Bill Hu, Co-Founder and CEO, Kika Tech. “This keyboard will add some fun and new unique options for Barca fans’ to engage with each other and express their enthusiasm for their favorite team and players.”

About FC Barcelona

FC Barcelona was founded on November 29, 1899 by initiative of a Swiss gentleman called Hans Maximilian Gamper, popularly known as Joan Gamper. Since it was founded, the club has had 44 different presidents. From Walter Wild to Josep Maria Bartomeu, Barca has grown into a massive social phenomenon that reaches far beyond the bounds of mere sport. The club has grown along with the city around it, and has come to represent Barcelona and Catalonia all around the world.

FC Barcelona now has more members than any other football club in the world and its achievements have also made it one of the most successful. The many famous victories and all-time greats that have played for the club (Kubala, Cruyff, Maradona, Romario, Rivaldo, Ronaldinho, Messi, and so many more) form an important part of the Barca legacy. But these would be no more than historical anecdotes if it wasn’t for the extraordinary social reality behind the events.

About Kika Tech

Say it with Kika! Make everyday interactions more engaging and fun with Kika. Integrating into smart devices, Kika enhances self-expression that goes beyond mobile platforms. By leveraging artificial intelligence (AI), Kika enriches the emotional connection between individuals in this technology driven world. Keep up to date with Kika on FacebookLinkedInInstagram, and Twitter.

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SOURCE Kika Tech Inc

LONDON, August 22, 2017 /PRNewswire/ —

StoryStream, the content acceleration experts, announced today that it has raised £1.2M additional funding, led by MMC Ventures, to advance its offering with Artificial Intelligence (AI).

     (Logo: http://mma.prnewswire.com/media/546252/StoryStream_Logo.jpg )

With this latest investment, StoryStream will use AI to accelerate the efficiency of finding, managing and deploying content to power engaging content experiences for brands, whilst unlocking valuable insights for marketers.

To lead the AI philosophy at StoryStream the company also hired Dr. Janet Bastiman as its Chief Science Officer to head a new team based in its London office, which opened earlier this year.

Dr. Bastiman is a veteran C-level executive with a Ph.D. in computational neuroscience and 10 years’ experience in leading technical departments and shaping future technical strategy.

She has held several CIO and CTO positions at SmartFocus, SnapRapid and Salon Software Solutions and brings a wealth of knowledge and insight to achieve excellent results in various sectors of the IT industry.

“Marketers are increasingly thinking about how AI can be leveraged to improve operations and boost revenue,” said Alex Vaidya, CEO & Co-Founder, StoryStream. “We wanted to make that an accessible reality for marketers. It was important for us to have talent in-house in order to design unique, specialist technology that can keep up with the demands of our clients. Original AI technology will become a game changer for the business.”

“It’s an exciting time to be working in the AI industry,” said Dr. Bastiman. “StoryStream is heading down a very interesting path in terms of its product offerings, and I’m excited to help forge transformative technology that will shape the future of marketing”.

With this latest fundraise StoryStream has secured a total of £3million today with MMC Ventures. It closed its Series A funding round at £1.8m in April 2016.

Jon Coker, Co-Managing Partner at MMC Ventures, said “Marketers are dealing with ever increasing amounts of content related to their brand and there are few enterprise tools that have the ability to manage brand and customer content at scale, in real-time, across multiple channels. We believe this problem is well suited to AI and StoryStream’s offering and we are excited to be backing StoryStream’s continued commitment to it.”

About StoryStream 

StoryStream accelerates the speed of finding, managing and publishing content so marketers can focus on creating engaging, in-the moment brand experiences for customers.

The StoryStream Content Acceleration PlatformTM can instantly centralise and display all of your social media, advocacy and review content to engage visitors and move them through their
buying journey.

The fully managed StoryStream Studios service works with brands of all sizes, as an extension of their marketing team, to optimise how they use content and prove ROI; from implementing
content curation solutions and managing social feeds to providing engagement strategy guidance.

StoryStream works with some of the world’s most forward-thinking brands such as Porsche, Volvo, STA Travel and Co-Operative, to accelerate how they use content for maximum business results.

For more information, please visit www.story-stream.com or call us on +44-(0)-203-637-1169.

@StoryStreamUK | LinkedIn | Facebook | Instagram

About MMC Ventures 

Founded in 2000, MMC Ventures is a London-based venture capital firm investing in high-growth technology businesses that have the potential to change the future of financial services, the workplace and retail environment. MMC has invested in more than 50 companies and focuses on enterprise software and consumer internet investments. MMC currently has over £190 million under management and is investing £20 million+ annually.

MMC’s existing portfolio includes; Appear Here, Bloom & Wild, CloudSense, Elder, Gousto, Interactive Investor, Masabi, NewVoiceMedia, Signal Media, SafeGuard, Sky-Futures, Small World FS and Tyres on the Drive.

http://www.mmcventures.com @MMC_Ventures

Media Contact

Rebecca Moorcroft
rebecca.moorcroft@story-stream.com
+44-(0)-203-637-1169

SOURCE StoryStream

BEIJING, Aug. 22, 2017 /PRNewswire/ — Cheetah Mobile Inc. (NYSE: CMCM) (“Cheetah Mobile” or the “Company”), a leading mobile internet company that aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform, today announced its unaudited consolidated financial results for the second quarter ended June 30, 2017.

Second Quarter 2017 Financial Highlights

  • Total revenues increased by 14.8% year over year to RMB1,201.6 million (US$177.2 million), mostly driven by the Company’s growth in mobile revenues, which achieved a record high during the second quarter of 2017. 
  • Operating profit increased to RMB66.2 million (US$9.8 million) from an operating loss of RMB63.0 million in the same period last year.  Non-GAAP operating profit increased by 254.3% year over year to RMB90.4 million (US$13.3 million).  In particular, operating profit for the Company’s utility products and related services business increased by 50.6% year over year to RMB212.8 million (US$31.4 million) in the second quarter of 2017, primarily driven by the Company’s effort in optimizing its utility products’ cost and expense structure. 
  • Net income attributable to Cheetah Mobile shareholders increased to RMB70.2 million (US$10.4 million) from a net loss attributable to Cheetah Mobile shareholders of RMB150.5 million in the same period last year.  Non-GAAP net income attributable to Cheetah Mobile shareholders increased to RMB94.4 million (US$13.9 million) from a non-GAAP net loss attributable to Cheetah Mobile shareholders of RMB61.9 million in the same period last year.
  • The Company generated RMB194.7 million (US$28.7 million) of net cash from operating activities and RMB185.1 million (US$27.3 million) of free cash flow1 in the second quarter of 2017.

[1] Free cash flow is defined as net cash generated by operating activities less capital expenditure

Second Quarter 2017 Key Operating Metrics

  • The number of global mobile monthly active users (“Mobile MAUs”) was 581.3 million in June 2017. The number of Mobile MAUs from markets outside of China, or overseas markets, accounted for 77.3% of the total number of Mobile MAUs in June 2017.

Mr. Sheng Fu, Cheetah Mobile’s Chief Executive Officer, stated, “Our second quarter results remain stable and were in line with management expectations. We have been making adjustments to our utility products and realigning our cost structure.  As a result, we continued to generate robust operating profit and cash flow from our utility product business during the second quarter of 2017. Also during the quarter, our mobile game business grew considerably on both top and bottom lines as we continued to expand our game portfolio with new mobile game introductions in early 2017. In addition, we further increased Live.me’s user engagement and user stickiness through continued product improvement and content enrichment. We are confident that we remain on track to build a sustainable growth model for the long term.”

Mr. Vincent Jiang, Cheetah Mobile’s Chief Financial Officer, commented, “We made a concerted effort in controlling our utility products’ cost and expenses in the second quarter of 2017. As a result, our operating profit and net cash generated from operating activities for the quarter grew significantly both year over year and quarter over quarter. For the second half of 2017, we have a clear strategy to maintain our utility products’ profitability and at the same time grow our Live.me and mobile game businesses. 

Because our various business lines are in different phases of growth, in the first quarter of 2017, we reported our revenues according to business lines to help investors better understand our businesses. As we increasingly evaluate our utility products and related services separately from the rest of our business lines to assess their performance and allocate resources, in the second quarter of 2017, we will report our utility products and related services as one operating segment and consolidate our remaining businesses, including our content-driven products and mobile game businesses into one segment called the mobile entertainment business.”

Second Quarter 2017 Consolidated Financial Results

REVENUES

Total revenues increased by 14.8% year over year and 0.9% quarter over quarter to RMB1,201.6 million (US$177.2 million) in the second quarter of 2017. 

  • Revenues from utility products and related services, which includes mobile utility applications, internet browsers and PC security software, decreased by 13.3% year over year while remaining relatively stable quarter over quarter at RMB820.3 million (US$121.0 million) in the second quarter of 2017.  The year-over-year decrease was primarily due to a decrease in PC revenues as internet traffic in China continuously migrates from PC to mobile devices. Revenues from the Company’s mobile utility products remained stable year over year.    
  • Revenues from the mobile entertainment business, which includes Live.me, News Republic, and mobile games, increased by 270.5% year over year and 2.1% quarter over quarter to RMB371.0 million (US$54.7 million). The year-over-year increase was primarily driven by a rapid growth in Live.me’s broadcasting revenue and the Company’s enriched mobile game portfolio as a result of its continuous new mobile game introductions earlier this year. The quarter-over-quarter increase was primarily driven by the growth in the mobile game business.

By platform, revenues generated from the mobile business increased by 34.5% year over year and 3.0% quarter over quarter to RMB1,038.8 million (US$153.2 million) in the second quarter of 2017, primarily driven by the rapid growth of the Company’s Live.me business in overseas markets and the increase in its mobile game revenues.

By region, revenues generated from overseas markets increased by 50.3% year over year and remained relatively flat quarter over quarter at RMB842.9 million (US$124.3 million) in the second quarter of 2017.  

COST OF REVENUES AND GROSS PROFIT

Cost of revenues increased by 30.0% year over year and remained flat quarter over quarter at RMB461.1 million (US$68.0 million) in the second quarter of 2017.  The year-over-year increase was primarily driven by the increased investment in the Company’s content-driven products including Live.me and News Republic.

Non-GAAP cost of revenues increased by 29.8% year over year while remaining relatively flat quarter over quarter at RMB460.2 million (US$67.9 million) in the second quarter of 2017.

Gross profit increased by 7.0% year over year and 1.1% quarter over quarter to RMB740.5 million (US$109.2 million) in the second quarter of 2017.  Non-GAAP gross profit increased by 7.1% year over year and 1.0% quarter over quarter to RMB741.3 million (US$109.4 million) in the second quarter of 2017.

OPERATING INCOME AND EXPENSES

Total operating expenses decreased by 10.7% year over year and 4.6% quarter over quarter to RMB674.2 million (US$99.5 million) in the second quarter of 2017.  Total non-GAAP operating expenses decreased by 2.3% year over year and 4.7% quarter over quarter to RMB650.9 million (US$96.0 million) in the second quarter of 2017.

  • Research and development (R&D) expenses decreased by 26.6% year over year and 12.7% quarter over quarter to RMB167.0 million (US$24.6 million) in the second quarter of 2017, primarily due to lower R&D personnel costs of the Company’s utility products, partially offset by increased R&D personnel costs of its artificial intelligence technologies and content-driven products. Non-GAAP R&D expenses, which exclude share-based compensation expenses, decreased by 8.4% year over year and 10.2% quarter over quarter to RMB163.2 million (US$24.1 million) in the second quarter of 2017.
  • Selling and marketing expenses remained relatively flat year over year and quarter over quarter at RMB413.1 million (US$60.9 million) in the second quarter of 2017. The Company shifted some of its selling and marketing budget from its utility products to its content-driven products.  Non-GAAP selling and marketing expenses, which exclude share-based compensation expenses, remained relatively flat year over year while decreasing by 1.5% quarter over quarter to RMB408.2 million (US$60.2 million) in the second quarter of 2017.
  • General and administrative expenses decreased by 37.8% year over year and 3.5% quarter over quarter to RMB100.0 million (US$14.8 million) in the second quarter of 2017. The year-over-year decrease was primarily due to high professional service fees recorded in the second quarter of 2016 in connection with certain acquisition activities. Non-GAAP general and administrative expenses, which exclude share-based compensation expenses, decreased by 30.5% year over year and 4.6% quarter over quarter to RMB85.4 million (US$12.6 million) in the second quarter of 2017.

Operating profit increased to RMB66.2 million (US$9.8 million) in the second quarter of 2017 from an operating loss of RMB63.0 million in the same period last year and an operating profit of RMB26.3 million in the previous quarter.

Non-GAAP operating profit increased by 254.3% year over year and 78.4% quarter over quarter to RMB90.4 million (US$13.3 million) in the second quarter of 2017.

Starting from the second quarter of 2017, the Company will report its operating profit along the following segments:

  • ŸOperating profit for utility products and related services increased by 50.6% year over year and 18.8% quarter over quarter to RMB212.8 million (US$31.4 million) in the second quarter of 2017, mainly due to the Company’s effort in optimizing its utility products’ cost and expense structure. 
  • ŸOperating loss for the mobile entertainment business was RMB122.1 million (US$18.0 million) in the second quarter of 2017, mainly due to the Company’s increased investments in its content-driven products. The Company had operating losses of RMB106.2 million in the same period last year and RMB128.5 million in the previous quarter. 

Share-based compensation expenses decreased by 72.7% year over year while remaining relatively flat quarter over quarter at RMB24.2 million (US$3.6 million) in the second quarter of 2017. 

OTHER INCOME, NET

Other income, net was RMB23.7 million (US$3.5 million) in the second quarter of 2017, primarily due to gains from disposals of certain investment assets in the second quarter of 2017.

NET INCOME ATTRIBUTABLE TO CHEETAH MOBILE SHAREHOLDERS

Net income attributable to Cheetah Mobile shareholders was RMB70.2 million (US$10.4 million) in the second quarter of 2017 as compared to a net loss attributable to Cheetah Mobile shareholders of RMB150.5 million in the same period last year and a net income attributable to Cheetah Mobile shareholders of RMB91.2 million in the previous quarter.

Non-GAAP net income attributable to Cheetah Mobile shareholders was RMB94.4 million (US$13.9 million) as compared to a non-GAAP net loss attributable to Cheetah Mobile shareholders of RMB61.9 million in the same period last year and a non-GAAP net income attributable to Cheetah Mobile shareholders of RMB115.6 million in the previous quarter.

NET INCOME PER ADS

Diluted income per ADS in the second quarter of 2017 was RMB0.47 (US$0.07) as compared to diluted loss per ADS of RMB1.08 in the prior year period and diluted income per ADS of RMB0.64 in the previous quarter.

Non-GAAP diluted income per ADS in the second quarter of 2017 was RMB0.64 (US$0.09) as compared to non-GAAP diluted loss per ADS of RMB0.44 in the prior year period and non-GAAP diluted income per ADS of RMB0.81 in the previous quarter.

ADJUSTED EBITDA

Adjusted EBITDA (Non-GAAP) increased by 87.1% year over year and 45.0% quarter over quarter to RMB126.6 million (US$18.7 million) in the second quarter of 2017.

CASH AND CASH EQUIVALENTS, RESTRICTED CASH AND SHORT-TERM INVESTMENTS BALANCE

As of June 30, 2017, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB2,383.3 million (US$351.5 million). 

CASH FLOW FROM OPERATING ACTIVITIES AND FREE CASH FLOW

In the second quarter of 2017, the Company generated RMB194.7 million (US$28.7 million) of net cash from operating activities and RMB185.1 million (US$27.3 million) of free cash flow.

SHARES ISSUED AND OUTSTANDING

As of June 30, 2017, the Company had a total of 1,436,330,950 Class A and Class B ordinary shares issued and outstanding. One ADS represents 10 Class A ordinary shares.

Business Outlook

For the third quarter of 2017, the Company expects its total revenues to be between RMB1,150 million (US$170 million) and RMB1,210 million (US$178 million), representing a year-over-year increase of 2% to 7%. This estimate represents management’s preliminary view as of the date of this release, which is subject to change.

Recent Developments

Departure of the Company’s Senior Vince President
Cheetah Mobile today announced that Mr. Yong Chen has resigned as Senior Vice President of the Company for personal reasons, effective June 30, 2017.     

Live.me Business’s New Financing
On April 28, 2017, Live.me Inc., which operates Live.me, a live video streaming application, raised new funds from a group of investors. The new funding is presented as redeemable non-controlling interests on the Company’s balance sheet as of June 30, 2017. 

Conference Call Information

The Company will hold a conference call on Tuesday, August 22, 2017 at 7:00 a.m. Eastern Time or 7:00 p.m. Beijing Time to discuss the financial results. Listeners may access the call by dialing the following numbers:

International:  +1-412-902-4272
United States Toll Free:  +1-888-346-8982
China Toll Free:  4001-201203
Hong Kong Toll Free:  800-905945
Conference ID:  Cheetah Mobile

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.cmcm.com/.

Exchange Rate

This press release contains translations of certain Renminbi amounts into U.S. dollars at specified rates solely for the convenience of readers.  Unless otherwise noted, all translations from Renminbi to U.S. dollars in this press release were made at a rate of RMB6.7793 to US$1.00, the exchange rate in effect as of June 30, 2017 as set forth in the H.10 statistical release of the Federal Reserve Board.  Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate, or to be the amounts that would have been reported under accounting principles generally accepted in the United States of America (“U.S. GAAP”).

About Cheetah Mobile Inc.

Cheetah Mobile is a leading mobile internet company.  It aims to provide leading apps for mobile users worldwide and connect users with personalized content on the mobile platform. Cheetah Mobile’s products, including its popular utility applications Clean Master, Security Master and Battery Doctor, help make users’ mobile internet experience smarter, speedier, and safer. Leveraging the success of its utility applications, Cheetah Mobile has launched its line of mobile content-driven applications, including News Republic and Live.me. 

Cheetah Mobile provides its advertising customers, which include direct advertisers and mobile advertising networks through which advertisers place their advertisements, with direct access to highly targeted mobile users and global promotional channels, which are capable of delivering targeted content to hundreds of millions of users.  

Safe Harbor Statement

This press release contains forward-looking statements.  These statements, including management quotes and business outlook, constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995.  These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Such statements involve inherent risks and uncertainties.  A number of factors could cause actual results to differ materially from those contained in the forward-looking statements, including but are not limited to the following: Cheetah Mobile’s growth strategies; Cheetah Mobile’s ability to retain and increase its user base and expand its product and service offerings; Cheetah Mobile’s ability to monetize its platform; Cheetah Mobile’s future business development, financial condition and results of operations; competition with companies in a number of industries including internet companies that provide online marketing services and internet value-added services; expected changes in Cheetah Mobile’s revenues and certain cost or expense items; and general economic and business condition globally and in China.  Further information regarding these and other risks is included in Cheetah Mobile’s filings with the U.S. Securities and Exchange Commission.  Cheetah Mobile does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Use of Non-GAAP Financial Measures

To supplement Cheetah Mobile’s consolidated financial information presented in accordance with U.S. GAAP, Cheetah Mobile uses the following non-GAAP financial measures:

  • Non-GAAP cost of revenues reflects cost of revenues excluding the portion of share-based compensation expenses allocated to cost of revenues.
  • Non-GAAP gross profit reflects gross profit excluding the portion of share-based compensation expenses allocated to gross profit.
  • Non-GAAP operating income and expenses reflect operating income and expenses excluding the portion of share-based compensation expenses allocated to operating expenses.
  • Non-GAAP operating profit reflects operating profit excluding share-based compensation expenses.
  • Non-GAAP net income attributable to Cheetah Mobile shareholders is net income attributable to Cheetah Mobile shareholders excluding share-based compensation expenses.
  • Non-GAAP diluted earnings per ADS is non-GAAP net income attributable to Cheetah Mobile shareholders excluding net income attributable to redeemable noncontrolling interests, divided by weighted average number of diluted ADSs.
  • ŸAdjusted EBITDA is earnings before interest, taxes, depreciation, amortization, other non-operating income and share-based compensation expenses.
  • Free cash flow is net cash generated by operating activities less capital expenditure.

The Company believes that separate analysis and exclusion of share-based compensation expenses and the use of Adjusted EBITDA add clarity to the constituent parts of its performance from the cash perspective.  The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance.  It uses the non-GAAP financial measures for planning, forecasting and measuring results against the forecast.  The Company believes that non-GAAP financial measures are useful supplemental information for investors and analysts to assess its operating performance without the effect of share-based compensation expenses, which have been and will continue to be significant recurring expenses in its business.  However, the use of non-GAAP financial measures has material limitations as an analytical tool.  One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company’s net income for the period.  In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies.  In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP.  For more information on these non-GAAP financial measures, please see the tables captioned “Cheetah Mobile Inc.  Reconciliations of GAAP and Non-GAAP Results” and “Cheetah Mobile Inc. Reconciliation of Net Income Attributable to Cheetah Mobile Shareholders to Adjusted EBITDA (Non-GAAP)” at the end of this release.

Investor Relations Contact
Cheetah Mobile Inc.
Helen Jing Zhu
Tel: +86 10 6292 7779 ext. 1600
Email: helenjingzhu@cmcm.com

ICR, Inc.
Xueli Song
Tel: +1 (646) 417-5395
Email: IR@cmcm.com

 

CHEETAH MOBILE INC.

Condensed Consolidated Balance Sheets

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”)

As of

31-Dec-16

30-Jun-17

30-Jun-17

 RMB 

RMB

USD

ASSETS

Current assets:

Cash and cash equivalents

1,411,000

1,848,638

272,689

Restricted cash

167,751

94,146

13,887

Short-term investments

361,499

440,472

64,973

Accounts receivable

600,885

576,355

85,017

Prepayments and other current assets

571,306

501,812

74,021

Due from related parities

44,278

92,838

13,694

Deferred tax assets

15,527

Total current assets

3,172,246

3,554,261

524,281

Non-current assets:

Property and equipment, net

117,439

100,044

14,757

Intangible assets, net 

227,251

174,464

25,735

Goodwill

943,922

925,049

136,452

Investment in equity investees

100,063

95,271

14,053

Other long term investments

877,094

839,934

123,897

Due from related parities

3,078

454

Deferred tax assets

74,809

97,423

14,371

Other non-current assets

28,310

28,933

4,268

Total non-current assets

2,368,888

2,264,196

333,987

Total assets

5,541,134

5,818,457

858,268

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ EQUITY

Current liabilities: 

Bank loans

379,544

381,565

56,284

Accounts payable

194,882

163,638

24,138

Accrued expenses and other current liabilities

1,359,758

1,203,332

177,501

Deferred revenue

48,661

43,635

6,437

Due to related parties

71,167

74,640

11,010

Income tax payable

12,209

12,929

1,907

Total current liabilities

2,066,221

1,879,739

277,277

Non-current liabilities: 

Bank loans

118,797

96,465

14,229

Deferred revenue

6,001

5,448

804

Deferred tax liabilities

112,438

109,127

16,097

Other non-current liabilities

36,499

30,883

4,555

Total non-current liabilities

273,735

241,923

35,685

Total liabilities

2,339,956

2,121,662

312,962

Mezzanine equity

Redeemable noncontrolling interests

309,073

45,591

Shareholders’ equity:

Ordinary shares

230

232

34

Treasury stock

(178,991)

(178,991)

(26,403)

Additional paid-in capital

2,725,675

2,785,161

410,832

Retained earnings

237,293

402,620

59,390

Accumulated other comprehensive income

228,145

181,659

26,797

Total Cheetah Mobile shareholders’ equity

3,012,352

3,190,681

470,650

Noncontrolling interests

188,826

197,041

29,065

Total equity

3,201,178

3,387,722

499,715

Total liabilities, mezzanine equity and equity

5,541,134

5,818,457

858,268

 

CHEETAH MOBILE INC.

Condensed Consolidated Statements of Comprehensive Income (Loss)

(Unaudited, amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share(or ADS) data)

For The Three Months Ended

30-Jun-16

31-Mar-17

30-Jun-17

30-Jun-17

RMB

RMB

RMB

USD

Revenues

1,046,664

1,190,703

1,201,561

177,239

Utility products and related services 

946,198

827,225

820,342

121,007

Mobile entertainment

100,137

363,468

371,034

54,730

Others

329

10

10,185

1,502

Cost of revenues (a)

(354,710)

(457,953)

(461,089)

(68,014)

Gross profit

691,954

732,750

740,472

109,225

Operating income and expenses: 

Research and development (a)  

(227,496)

(191,367)

(166,983)

(24,631)

Selling and marketing (a) 

(407,206)

(414,264)

(413,116)

(60,938)

General and administrative (a) 

(160,735)

(103,588)

(99,996)

(14,750)

Impairment of goodwill and intangible assets

(172)

(25)

Other operating income

40,446

2,784

6,022

888

Total operating income and  expenses

(754,991)

(706,435)

(674,245)

(99,456)

Operating (loss) profit

(63,037)

26,315

66,227

9,769

Other income (expense):

Interest income, net

2,715

1,616

3,380

499

Changes in fair value of redemption right and put options granted

(308)

(233)

82

12

Settlement and changes in fair value of contingent consideration

(664)

(790)

(8,224)

(1,213)

Foreign exchange gain (loss), net

486

1,213

(6,627)

(978)

Impairment of investments

(95,206)

Losses from equity method investments, net

(6,070)

(367)

(477)

(70)

Other income, net

17,620

67,708

23,659

3,490

(Loss) Income before taxes

(144,464)

95,462

78,020

11,509

Income tax expenses 

(1,964)

(4,912)

(4,664)

(688)

Net (loss) income

(146,428)

90,550

73,356

10,821

Less: net income (loss) attributable to noncontrolling interests 

4,022

(679)

3,157

466

Net (loss) income attributable to Cheetah Mobile shareholders

(150,450)

91,229

70,199

10,355

(Losses) Earnings per share

Basic 

(0.11)

0.07

0.05

0.01

Diluted 

(0.11)

0.06

0.05

0.01

(Losses) Earnings per ADS

Basic 

(1.08)

0.66

0.48

0.07

Diluted 

(1.08)

0.64

0.47

0.07

Weighted average number of shares outstanding

Basic 

1,391,355,172

1,387,446,596

1,392,558,263

1,392,558,263

Diluted 

1,391,355,172

1,422,443,105

1,430,957,071

1,430,957,071

Weighted average number of ADSs used in computation

Basic 

139,135,517

138,744,660

139,255,826

139,255,826

Diluted 

139,135,517

142,244,310

143,095,707

143,095,707

Other comprehensive income (loss), net of tax

Foreign currency translation adjustments

54,165

(8,517)

(38,948)

(5,745)

Unrealized loss on available-for-sale securities, net

(389)

Other comprehensive income (loss) 

53,776

(8,517)

(38,948)

(5,745)

Total comprehensive (loss) income

(92,652)

82,033

34,408

5,076

Less: Total comprehensive income attributable to
noncontrolling interests

7,117

119

1,380

204

Total comprehensive (loss) income attributable to
Cheetah Mobile shareholders

(99,769)

81,914

33,028

4,872

(a) Share-based compensation expenses

Cost of revenues

140

934

872

129

Research and development

49,410

9,571

3,802

561

Selling and marketing

1,300

(188)

4,956

731

General and administrative

37,707

14,051

14,552

2,147

Total

88,557

24,368

24,182

3,568

 

CHEETAH MOBILE INC.

Reconciliation of GAAP and Non-GAAP Results

(Unaudited, in’000, except for per share data and percentage)

For The Three Months Ended June 30, 2017

GAAP

% of Net

Share-based 

% of Net

Non-GAAP

% of Net

Non-GAAP

Result

Revenues

Compensation

Revenues

Result

Revenues

Result ($)

Revenues

1,201,561

1,201,561

177,239

Cost of revenues

(461,089)

38.4%

872

0.1%

(460,217)

38.3%

(67,886)

Gross profit

740,472

61.6%

872

0.1%

741,344

61.7%

109,353

Research and development 

(166,983)

13.9%

3,802

0.3%

(163,181)

13.6%

(24,070)

Selling and marketing 

(413,116)

34.4%

4,956

0.4%

(408,160)

34.0%

(60,207)

General and administrative 

(99,996)

8.3%

14,552

1.2%

(85,444)

7.1%

(12,604)

Impairment of goodwill and intangible assets

(172)

0.0%

0.0%

(172)

0.0%

(25)

Other operating income

6,022

0.5%

0.0%

6,022

0.5%

888

Total operating income and expenses

(674,245)

56.1%

23,310

1.9%

(650,935)

54.2%

(96,018)

Operating profit 

66,227

5.5%

24,182

2.0%

90,409

7.5%

13,336

Net income attributable to Cheetah Mobile shareholders

70,199

5.8%

24,182

2.0%

94,381

7.9%

13,922

Diluted earnings per ordinary share (RMB)

0.05

0.01

0.06

Diluted earnings per ADS (RMB)

0.47

0.17

0.64

Diluted earnings per ADS (USD)

0.07

0.02

0.09

For The Three Months Ended March 31, 2017

GAAP

% of Net

Share-based 

% of Net

Non-GAAP

% of Net

Result

Revenues

Compensation

Revenues

Result

Revenues

Revenues

1,190,703

1,190,703

Cost of revenues

(457,953)

38.5%

934

0.1%

(457,019)

38.4%

Gross profit

732,750

61.5%

934

0.1%

733,684

61.6%

Research and development 

(191,367)

16.1%

9,571

0.8%

(181,796)

15.3%

Selling and marketing 

(414,264)

34.8%

(188)

0.0%

(414,452)

34.8%

General and administrative 

(103,588)

8.7%

14,051

1.2%

(89,537)

7.5%

Other operating income

2,784

0.2%

0.0%

2,784

0.2%

Total operating income and expenses

(706,435)

59.3%

23,434

2.0%

(683,001)

57.4%

Operating profit

26,315

2.2%

24,368

2.0%

50,683

4.3%

Net income attributable to Cheetah Mobile shareholders

91,229

7.7%

24,368

2.0%

115,597

9.7%

Diluted earnings per ordinary share (RMB)

0.06

0.02

0.08

Diluted earnings per ADS (RMB)

0.64

0.17

0.81

For The Three Months Ended June 30, 2016

GAAP

% of Net

Share-based 

% of Net

Non-GAAP

% of Net

Result

Revenues

Compensation

Revenues

Result

Revenues

Revenues

1,046,664

1,046,664

Cost of revenues

(354,710)

33.9%

140

0.0%

(354,570)

33.9%

Gross profit

691,954

66.1%

140

0.0%

692,094

66.1%

Research and development 

(227,496)

21.7%

49,410

4.7%

(178,086)

17.0%

Selling and marketing 

(407,206)

38.9%

1,300

0.1%

(405,906)

38.8%

General and administrative 

(160,735)

15.4%

37,707

3.6%

(123,028)

11.8%

Other operating income

40,446

3.9%

0.0%

40,446

3.9%

Total operating income and expenses

(754,991)

72.1%

88,417

8.4%

(666,574)

63.7%

Operating (loss) profit

(63,037)

6.0%

88,557

8.5%

25,520

2.4%

Net loss attributable to Cheetah Mobile Shareholders

(150,450)

14.4%

88,557

8.5%

(61,893)

5.9%

Diluted (losses) earnings per ordinary share (RMB)

(0.11)

0.07

(0.04)

Diluted (losses) earnings per ADS (RMB)

(1.08)

0.64

(0.44)

 

CHEETAH MOBILE INC.

Information about Segment 

(Unaudited, in’000, except for percentage)

For The Three Months Ended June 30, 2017

Utility Products and
Related Services

Mobile Entertainment

Others 

Unallocated*

Consolidated

RMB

RMB

RMB

RMB

RMB

USD

Revenue

820,342

371,034

10,185

1,201,561

177,239

Operating profit (loss)

212,849

(122,069)

(371)

(24,182)

66,227

9,769

Operating margin

25.9%

(32.9)%

(3.6)%

5.5%

5.5%

For The Three Months Ended March 31, 2017

Utility Products and
Related Services

Mobile Entertainment

Others 

Unallocated*

Consolidated

RMB

RMB

RMB

RMB

RMB

Revenue

827,225

363,468

10

1,190,703

Operating profit (loss)

179,158

(128,478)

3

(24,368)

26,315

Operating margin

21.7%

(35.3)%

30.0%

2.2%

For The Three Months Ended June 30, 2016

Utility Products and
Related Services

Mobile Entertainment

Others 

Unallocated*

Consolidated

RMB

RMB

RMB

RMB

RMB

Revenue

946,198

100,137

329

1,046,664

Operating profit (loss)

141,368

(106,228)

(9,620)

(88,557)

(63,037)

Operating margin

14.9%

(106.1)%

(2924.0)%

(6.0)%

* Unallocated expenses refer to SBC expenses that are not allocated to individual segments.

 

Cheetah Mobile Inc.

Revenues Generated from PC-based and Mobile-based Applications and Services

(Unaudited, in ‘000)

For The Three Months Ended

30-Jun-16

31-Mar-17

30-Jun-17

30-Jun-17

RMB

RMB

RMB

USD

PC

274,329

182,337

162,771

24,010

Mobile

772,335

1,008,366

1,038,790

153,229

Total

1,046,664

1,190,703

1,201,561

177,239

 

Cheetah Mobile Inc.

Revenues Generated from Domestic and Overseas Markets

(Unaudited, in ‘000)

For The Three Months Ended

30-Jun-16

31-Mar-17

30-Jun-17

30-Jun-17

RMB

RMB

RMB

USD

Domestic

485,972

342,383

358,655

52,904

Overseas

560,692

848,320

842,906

124,335

Total

1,046,664

1,190,703

1,201,561

177,239

 

CHEETAH MOBILE INC.

Reconciliation from Net Income Attributable to Cheetah Mobile Shareholders to Adjusted EBITDA (Non-GAAP)

(Unaudited, in ‘000)

For The Three Months Ended

30-Jun-16

31-Mar-17

30-Jun-17

30-Jun-17

RMB

RMB

RMB

USD

Net (loss) income attributable to Cheetah Mobile shareholders

(150,450)

91,229

70,199

10,355

Add:

  Income tax expenses

1,964

4,912

4,664

688

  Interest income, net

(2,715)

(1,616)

(3,380)

(499)

  Depreciation and amortization

42,126

36,595

36,166

5,335

  Net income (loss) attributable to noncontrolling interests 

4,022

(679)

3,157

466

  Other non-operating expense (income), net

84,142

(67,531)

(8,413)

(1,241)

  Share-based compensation 

88,557

24,368

24,182

3,568

Adjusted EBITDA

67,646

87,278

126,575

18,672

 

View original content:http://www.prnewswire.com/news-releases/cheetah-mobile-announces-second-quarter-2017-unaudited-consolidated-financial-results-300507573.html

SOURCE Cheetah Mobile

MALVERN, Pa., Aug. 22, 2017 /PRNewswire-iReach/ — Zoomi, the leading Artificial Intelligence-based learning analytics company, was named one of the “Top 20 Training Delivery Companies” in the country by TrainingIndustry.com for their award-winning Artificial Intelligence-informed eLearning platform. The top 20 list of learning providers is compiled by TrainingIndustry.com to help professionals identify the ‘best of the best’ when selecting an outsourcing training partner.

“It is a tremendous validation for us at Zoomi to be recognized by TrainingIndustry.com,” said Zoomi President and General Manager, William McColgan. “When we started down this path in 2012, one of our biggest hurdles was convincing L&D departments that the things we claimed are even possible. We knew there was value here, but it seemed too far-fetched to many of the folks we spoke to working in the field. We have seen a sea change in the past 18 months, and are very glad to see the market come around to the potential of AI for learning.”

Selection to the 2017 Top 20 Training Delivery Companies List was based on the following criteria:

  • Value of platform features and capabilities
  • Quality of analytics and reporting
  • Company size and growth potential
  • Quality of clients
  • Geographic and vertical reach

“The inaugural Top 20 Training Delivery Companies List is a resource for organizations that need a delivery partner with extensive knowledge of learning technologies and a strong set of features and capabilities to bring their training content to life,” said Doug Harward, CEO of Training Industry, Inc. “We’re pleased to add this sector to our Top Training Companies lists in recognition of the speed of change and breadth of options available to learning professionals from training delivery companies.”

About Zoomi

Zoomi, a performance optimization data analytics company, brings together the disciplines of predictive and prescriptive analytics, machine learning, and data mining to glean insights and intelligence about a learner’s behavior, cognitive, and engagement preferences to synchronize learning with business outcomes. Zoomi’s first-to-market technology delivers measurable ROI for corporate training and education programs. The company was founded in January 2015 by a global team of industry-leading engineers, developers, and designers. For more information or to request a demo, visit www.zoomiinc.com.

About Training Industry, Inc. 

Training Industry spotlights the latest news, articles, case studies and best practices within the training industry and publishes annual Top 20 and Watch List reports covering many sectors of interest to the corporate training function. Our focus is on helping dedicated businesses and training professionals get the information, insight and tools needed to more effectively manage the business of learning. 

Media Contact: Joanna Miller, Zoomi, 855-955-3444, info@zoomiinc.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Zoomi

OYSTER BAY, N.Y., Aug. 22, 2017 /PRNewswire/ — The Internet of Things (IoT) ecosystem is set to bring forth a myriad of new technologies, devices, and communication protocols, all fighting for dominance as established and new vendor entrants attempt to get a bigger slice of the market. However, ABI Research believes that it is also evolving at such a rapid pace that its future will bring forth a whole new spectrum of data analytics and related services. This is not only set to transform the IoT landscape but also shift the focus of how companies operate in the coming years by emphasizing data exchange as a new form of currency.

ABI Research  www.abiresearch.com (PRNewsFoto/ABI Research)

A significant percentage of companies are witnessing this shift but very few of them have a strategy in place. Even leading vendors across multiple sectors are aware that they are sitting on a treasure trove of customer and machine data but are unable to monetize it to its full potential.  

“IoT data sharing, exchanging, and even selling initiatives will not be just additional aspects of the IoT environment. These services are actually the next evolutionary step”, comments Dimitrios Pavlakis, Industry Analyst at ABI Research. “From the creation of application enablement platforms and innovative management services, to artificial intelligence and machine vision applications, we will experience transformative data governance and exchange services between all intertwined verticals.”

A few industry leaders are taking active steps to address these future opportunities while driving this transformation. Gemalto’s IoT platform allows for both original equipment manufacturers and cloud service providers to implement flexible monetization models. Ericsson is also at the forefront of monetizing the IoT, tackling connectivity, data management, and analytics. Bosch’s platform bridges open source applications and open standards with cloud services and IoT projects. ABI Research forecasts that in 2017 the total installed base of connected devices will reach 27 billion.  This number is expected to hit 55 billion by 2022, further fueling the IoT shift.

These findings are from ABI Research’s IoT Data Exchange Services (https://www.abiresearch.com/market-research/service/robotics/) report. This report is part of the company’s M2M, IoT & IoE (https://www.abiresearch.com/market-research/service/m2m-iot-ioe/) research  service, which includes research, data, and analyst insights.

About ABI Research

ABI Research stands at the forefront of technology market intelligence, providing business leaders with comprehensive research and consulting services to help them implement informed, transformative technology decisions. Founded more than 25 years ago, the company’s global team of senior and long-tenured analysts delivers deep market data forecasts, analyses, and teardown services. ABI Research is an industry pioneer, proactively uncovering ground-breaking business cycles and publishing research 18 to 36 months in advance of other organizations. For more information, visit www.abiresearch.com.

 

Contact Info

Americas            

EMEA/APAC

Deborah Petrara      

Denise Duffy

Tel: +1.516.624.2558   

Tel: +44.203.326.0142

pr@abiresearch.com   

duffy@abiresearch.com

 

View original content with multimedia:http://www.prnewswire.com/news-releases/iot-data-exchanges-services-set-to-transform-iot-landscape-300507545.html

SOURCE ABI Research

Stock Market Symbols
GIB (NYSE)
GIB.A (TSX)
www.cgi.com/newsroom

HELSINKI, Finland, Aug. 22, 2017 /PRNewswire/ – CGI (NYSE: GIB) (TSX: GIB.A) today announced an all-cash tender offer of €4.55 per share to acquire through its wholly owned subsidiary CGI Nordic Investments Limited, all outstanding shares of Affecto Plc, a leading provider of business intelligence and enterprise information management solutions and services. Affecto's Board of Directors is unanimously recommending that its shareholders accept CGI's offer, which represents a total price of €98 million, or approximately C$146 million, a 29.3% premium to its closing price on August 21, 2017. The company currently trades under the symbol AFE1V on the Nasdaq Helsinki exchange. The tender offer is subject to a number of conditions, including approval by the relevant regulatory authorities, such as competition authorities, and CGI gaining control of more than 90% of the outstanding shares of Affecto. The transaction is expected to close in Q1 F2018.

Adding to CGI's recognized digital expertise in analytics and data science, Helsinki-based Affecto would bring more than 1000 highly-skilled professionals from across 18 offices in Finland, Sweden, Norway, Denmark as well as Poland, Latvia and Lithuania. With robust strategic consulting, system integration, cloud, data analytics and digital transformation capabilities, Affecto will further complement CGI's global expertise across several in-demand digital transformation areas. Over the last twelve months, Affecto has generated revenue of €119.8 million.

"The offer to merge with Affecto aligns with CGI's plan to profitably double the company in five to seven years through a combination of acquisitions and organic growth," said George D. Schindler, CGI President and Chief Executive Officer. "In turn, for the benefit of our respective clients, CGI brings Affecto depth and end-to-end capabilities, including access to a network of global and onshore delivery centers, robust intellectual property portfolio, managed services and high-end IT consulting. We will continue to implement an established build-and-buy strategy that adds to our strength in the Nordics and around the globe."

"We look forward to welcoming Affecto professionals into the CGI family as member-owners, sharing and collaborating as highly skilled innovators that are focused on delivering value to clients," said Heikki Nikku, CGI President of Nordics operations. "By merging with the global reach and resources of CGI, the powerful combination creates unique career opportunities for CGI professionals in the Nordics as we pursue profitable future growth together."

About CGI in the Nordics
With nearly 8,000 professionals in 55 offices across Denmark, Estonia, Finland, Norway and Sweden, CGI has a strong local presence across the Nordic IT services market. With a deep commitment to being the best in our industry across the Nordics and around the world, CGI serves as a market leader in end-to-end IT and business consulting services, solutions and outsourcing services. CGI's Nordic operation serves thousands of clients in public and private organisations to help them achieve operational efficiencies while harnessing innovation to better serve the digital needs of their customers and citizens

This press release is not intended to form the basis of any investment decision. It does not constitute an offer or invitation for the sale or purchase of any securities, businesses and/or assets or any recommendation or commitment by CGI or any other person and neither this press release, nor its contents nor any other written or oral information made available in connection with the transaction shall form the basis of any contract. This press release has been prepared without reference to the particular investment objectives, financial situation, taxation position or particular needs of the reader.

About CGI
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 70,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as 150 IP-based services and solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com.

About Affecto
Affecto is a Northern European full-stack data house with expertise in data intensive technologies. Their expertise ranges from enterprise information management to artificial intelligence. Affecto creates business value for its customers by helping them become data driven, thus transforming their businesses. Affecto has long term, committed customer relationships with a large number of essential Northern European companies as well as public institutions. Affecto has a local presence with 18 offices forming a powerful grid, and is a unique home for our 1000+ employees.

Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are "forward-looking information" within the meaning of Canadian securities laws. These statements and this information represent CGI's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving IT industry; general economic and business conditions; foreign exchange and other risks identified in the press release, in CGI's annual and quarterly Management's Discussion and Analysis ("MD&A"), in CGI's Annual Report, in CGI's Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in the Company's Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The words "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan," and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.

 

SOURCE CGI Group Inc.