Cvent 2013 revenue up 33% year-over-year

Cvent, Inc. (NYSE: CVT) said its total 2013 revenue was USD111.1m, an increase of 33 percent from 2012.

Platform subscription revenue was USD77.4m, an increase of 32 percent from 2012, while marketing solutions revenue was USD33.7m, an increase of 36 percent from 2012.

GAAP operating loss was USD(2.0)m, compared to operating income of USD7.9m in 2012, and non-GAAP operating income was USD7.3m, compared to USD14.9m in 2012.

Cvent is a leading cloud-based enterprise event management platform. Cvent offers software solutions to event planners for online event registration, venue selection, event management, mobile apps for events, e-mail marketing and web surveys.

FalconStor Software Q4 2013 revenues down 35%

FalconStor Software, Inc. (NASDAQ: FALC) said that total revenues for the fourth quarter of 2013 were USD14.6m, a decrease of 35 percent from USD22.5m in the same period a year ago.

GAAP loss from operations for the fourth quarter of 2013 was USD1.0m, compared with an operating loss of USD1.7m for the fourth quarter of 2012. GAAP net income for the quarter was USD0.9m compared with a net loss of USD2.3m for the same period a year ago.

Non-GAAP income from operations was USD0.8m for both the fourth quarter of 2013 and 2012. Non-GAAP net income was USD0.6m, or USD0.01 per share, in the fourth quarter of 2013, compared with a non-GAAP net income of USD0.1m, or USD0.00 per share, in the fourth quarter of 2012. Non-GAAP results exclude the effects of stock-based compensation, costs associated with the company´s investigations, litigation and settlement related costs, restructuring costs, certain tax items, the effects of preferred stock and the gain on the sale of Blue Whale.

For the year ended December 31, 2013, total revenues were USD58.6m, a decline of 22% from USD75.4m for the same period a year ago.

Founded in 2000, FalconStor Software offers an award-winning platform for data migration, business continuity, disaster recovery, optimized backup and deduplication. The company is headquartered in Melville, N.Y. with offices throughout Europe and the Asia Pacific region. For more information, visit www.falconstor.com

UK to spend over $24bn on upgrading and improving road network until 2021

Britain’s road network is to benefit from major improvements over the next 8 years and road building companies are advised to prepare for a huge increase in work as a result of a GBP24bn investment in the road network, the UK government’s Department for Transport revealed on Monday.

The government is to triple funding on upgrades and improvements to the UK’s road network until 2021, reportedly the largest investment made in the UK’s road network since the 1970s.

Locked-in funding commitments of an annual spend of GBP3bn on improvements and maintenance for the strategic network alone will support almost 30,000 new jobs in the construction sector.

Major improvements will be made to strategic roads from 2015 to 2020/21 as a result of an investment of GBP10.7bn and the government is also planning to spend GBP6.1bn on resurfacing 80% of the strategic network. A further GBP6bn will be being spent on repairing potholes on local authority roads.

Under the spending reforms, the Highways Agency will be turned into a government-owned company, which will help to improve commercial efficiency and cut running costs. It is anticipated that road users in Britain will benefit from a more effective road network and will have a greater say in how the roads operate. Also, taxpayers are expected to benefit from savings of at least GBP2.6bn over the next 10 years.

The long-term funding was announced in the 2013 Spending Review along with the Department for Transport’s ‘Action for Roads’, a command paper that sets out the long-term vision for the road network from 2015. The funding is expected to provide the security for road building contractors to be able to make commercial decisions.

Roads Minister Robert Goodwill said:

“Funding certainty is critical to the construction industry in planning for the future and that is exactly what the government has delivered – with GBP24bn secure investment over 6 years and GBP50bn for the strategic road network over the next 15 years. However, we need to make sure everyone is ready to deliver the massive programme of investment that we need to keep Britain’s roads moving.

“To do that, we need to make sure we have the right people and equipment in place to deliver the 53 road schemes in preparation right now, plus the next generation of improvements over the next 7 years. This means taking on more apprentices and making sure suppliers have the capacity to deal with the increase in demand. If we get this right, this will provide road users with a high performing network that can cope with the expected 43% increase in traffic over the coming decades that will help boost economy growth and deliver more efficient roads for motorists.”

Ubiquity Broadcasting begins negotiations to acquire ZUUS Media

Irvine-based Ubiquity Broadcasting Corp. (OTC: UBIQ) said it has entered into a non-binding term sheet to acquire ZUUS Media, a next generation media company operating the ZUUS multi-platform music video network.

ZUUS offers four genre-specific music television channels (ZUUS Country, ZUUS Latino, ZUUS Hip Hop + R&B and ZUUS Hits), currently available in US households. The network also presents over 150 curated digital video channels available across Mobile, Tablet, Web, Facebook, and Connected TV platforms.

In addition to its extensive catalogue of premium music videos, ZUUS produces and broadcasts original content, including live footage, behind-the-scenes access, interviews, artist-hosted shows, and more. The acquisition is expected to create cross-selling opportunities for Ubiquity´s core product and service segments.

Based in Irvine, CA. Ubiquity is a vertically integrated, technology-focused media company focused in five specific areas with a robust portfolio of patents and intellectual property. For more information go to www.ubiquitycorp.com.

ZUUS is the premier “lean-back” destination in the world of music video entertainment. Its website is at www.zuus.com.

Southwest Airlines uses PASSUR to improve turn times at airports

10 February 2014

PASSUR Aerospace, Inc (OTC: PSSR) said that Southwest Airlines has contracted for the surface management module of PASSUR Integrated Traffic Management for 35 US airports across its network to streamline turn times, reduce fuel burn, and enhance on time performance.

The PASSUR Surface Management solution assists Southwest in achieving shorter taxi-in and taxi-out times, and a quicker transition from arrival to departure for an aircraft, resulting in lower costs and emissions from engine fuel burn, less time for passengers spent on the ground in the aircraft, and greater “aircraft utilization” (hours an airplane spends in the air flying passengers). The surface solution is part of an integrated, gate-to-gate traffic management platform that optimizes the entire lifecycle of a flight.

PASSUR Aerospace is an aviation business intelligence and Big Data company that provides predictive analytics built on proprietary algorithms and the concurrent integration and simultaneous mining of multiple databases. Its website is at www.passur.com.

Anaren shareholders approve merger agreement

Anaren, Inc. (NASDAQ: ANEN) said the company´s shareholders approved the adoption of an agreement and plan of merger among ANVC Holding Corp., ANVC Merger Corp. (the merger sub), and the company, in which the merger sub will be merged with and into the company, with the company continuing as the surviving corporation.

Holders of 12,018,121 shares of company common stock, representing approximately 89% of the shares of company common stock outstanding as of the record date of December 18, 2013 for the special meeting, were present in person or by proxy. Holders of 11,512,181 shares voted in favor of adopting the merger agreement, representing approximately 99% of the shares that were voted, and approximately 86% of the shares outstanding as of the record date. The company´s shareholders also approved, by non-binding advisory vote, specified compensation arrangements that may be payable to the company´s named executive officers in connection with consummation of the merger with a vote of 9,529,234 shares, representing approximately 83% of the shares that were voted and approximately 71% of the shares outstanding as of the record date.

The transaction is still subject to certain other customary closing conditions.

Anaren designs, develops, manufactures and sells highly integrated microwave components, assemblies and subsystems for the wireless communications, satellite communications and defense electronics markets. For more information on Anaren´s products, visit www.anaren.com.

Founded in 1992 and headquartered in New York, Veritas Capital is a leading private equity investment firm that invests in companies that provide critical products and services to government and commercial customers worldwide. For more information, visit http://www.veritascapital.com.

Delta names new executive vice president, COO

10 February 2014

Delta Air Lines´ (NYSE: DAL) board of directors has approved the appointment of Wayne Gilbert West to executive vice president and chief operating officer effective March 1, 2014.

West will succeed Stephen E. Gorman who will retire after leading Delta´s operations divisions since 2007.

Delta Air Lines serves nearly 165 million customers each year. Additional information is available on delta.com, Twitter @Delta, Google.com/+Delta, Facebook.com/delta and Delta´s blog takingoff.delta.com.

Transition Networks names new vice president of international sales

Communications Systems, Inc. (NASDAQ: JCS) subsidiary Transition Networks Inc. said that Kevin Martin has been named its new vice president of international sales.

Martin will be responsible for expanding the sales channel and driving revenue growth in the Asian, European and Latin American regions. He reports to Scott Otis, Transition Networks president and general manager.

Prior to his time with Overture, Martin held sales leadership positions at World Wide Packets, Ciena, Cascade Communications, Northern Telecom and other telecommunications equipment manufacturers. He also ran his own consulting business for six years selling to major telecom companies in Europe.

Transition Networks is an industry leader with over 25 years of experience designing fibre integration products that deliver the security and reliability for today´s networks while future-proofing for tomorrow as well. offering support for multiple protocols. Based in Minneapolis, Transition Networks distributes hardware-based connectivity solutions exclusively through a network of resellers in 50 countries.