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Cloud boosts SAP revenue, even as demand falls in Asia

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SAP reported strong growth in cloud subscription and support revenue in the first quarter, even as the company saw a decline in software and cloud subscription revenue in the Asia-Pacific and Japan region.

The business software company said Friday that total revenue grew 7 percent to €3.6 billion (US$4.6 billion), according to IFRS (international financial reporting standards).

The company’s profit for the quarter was €520 million, an increase of 17 percent from a year earlier.

Software and software-related service revenue was €2.9 billion, up 11 percent year on year, while revenue from software and cloud subscriptions grew 19 percent to €794 million. Support revenue grew 8 percent year on year to €2.1 billion.

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From: http://www.pcworld.com/article/2035751/cloud-boosts-sap-revenue-even-as-demand-falls-in-asia.html#tk.rss_all

Business, Finance, Occupation & Industry

Nokia Earnings Disappoint, Windows Phones Fall Short

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By 24/7 Wall St.

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Nokia Corp. (NYSE: NOK) had another rough quarter. The numbers show the company still cannot make progress against powerful competition from Apple Inc. (NASDAQ: AAPL) and Samsung.

The new Windows phones from Nokia and Microsoft Corp. (NASDAQ: MSFT) have not sold well, which is a blow to the fortunes of both companies. Microsoft’s success in the PC sector has begun to disappear, leaving mobile as one of the few industries in which it can grow.

According to the Nokia earnings announcement:

Nokia Group non-IFRS EPS in Q1 2013 was EUR -0.02; reported EPS was EUR -0.07.
– Nokia Group achieved underlying operating profitability for the third consecutive quarter, with a Q1 non-IFRS operating margin of 3.1%.
– Devices & Services achieved underlying profitability for the second consecutive quarter, with a Q1 non-IFRS operating margin of 0.1%. Devices & Services benefitted from a strong focus on cost as well as the reversal of approximately EUR 50 million of previously recognized inventory related allowances in Q1.
– Nokia Siemens Networks achieved underlying profitability for the fourth consecutive quarter, with a Q1 non-IFRS operating margin of 7.0%. Nokia Siemens Networks benefitted from strong gross margin performance in Q1.

Nokia Group net sales in Q1 2013 were EUR 5.9 billion
– Devices & Services Q1 net sales decreased 25% quarter-on-quarter to EUR 2.9 billion.
– Lumia Q1 volumes increased 27% quarter-on-quarter to 5.6 million units, reflecting increasing momentum.
– Mobile Phones Q1 volumes decreased 30% quarter-on-quarter to 55.8 million units, reflecting competitive industry dynamics and an estimated higher than normal seasonal decline in the market addressable by Mobile Phones.
– Nokia Siemens Networks net sales decreased 30% quarter-on-quarter to EUR 2.8 billion, reflecting industry seasonality

Those numbers were below expectations.

Filed under: 24/7 Wall St. Wire, PC Companies, Technology Companies, Wireless Tagged: AAPL, MSFT, NOK

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From: http://www.dailyfinance.com/2013/04/18/nokia-earnings-disappoint-windows-phones-fall-short/

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What Is Important in the Financial World (4/18/2013)

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By 24/7 Wall St.

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German Economic Recovery

One German research firm expects the nation’s economy to rebound this year and next. However, the rebound will be very modest. It will not be anywhere near those expected in the United States or China. The European Union’s troubles will be too much of a drag. Ifo says of the German economy:

An upwards tendency re-emerged in the German economy in spring 2013. The situation in the financial markets has eased thanks to subsiding uncertainty regarding the future of the European Monetary Union. The headwind in the world economy has also tailed off somewhat. The institutes expect gross domestic product in Germany to increase by 0.8% this year (68%-projection interval: 0.1% to 1.5%) and by 1.9% next year. The number of unemployed should continue to fall to an annual average of 2.9 million this year and 2.7 million in 2014.

Student Loan Burden

Students with large loan burdens, because of the debt taken on for their educations, likely are not buyers of expensive items such as homes and cars. Perhaps all of their debt makes them less attractive candidates for loans. Or, they may believe their obligation will leave them bankrupt. The results of a study by the New York Fed show what almost everyone with a high school education knows about student loan debt:

Student loans have soared in popularity over the past decade, with the aggregate student loan balance, as measured in the FRBNY Consumer Credit Panel, reaching $966 billion at the end of 2012. Student debt now exceeds aggregate auto loan, credit card, and home-equity debt balances—making student loans the second largest debt of U.S. households, following mortgages. Student loans provide critical access to schooling, given the challenge presented by increasing costs of higher education and rising returns to a degree. Nevertheless, some have questioned how taking on extensive debt early in life has affected young workers’ post-schooling economic activity.

The population of these people is large enough that their troubles could be an economic headwind in the next several years, particularly because so many of them also have been unable to find jobs.

Disappointing Nokia Earnings

Nokia Corp. (NYSE: NOK) had another rough quarter. The numbers show the company still cannot make progress against powerful competition from Apple Inc. (NASDAQ: AAPL) and Samsung. The new Window’s phones from Nokia and Microsoft Corp. (NASDAQ: MSFT) have not sold well, which is a blow to the fortunes of both companies. Microsoft’s success in the PC sector has begun to disappear, leaving mobile as one of the few industries in which it can grow. According to the Nokia earnings announcement:

Nokia Group non-IFRS EPS in Q1 2013 was EUR -0.02; reported EPS was EUR -0.07.
– Nokia Group achieved underlying operating profitability for the third consecutive quarter, with a Q1 non-IFRS operating margin of 3.1%.
– Devices & Services achieved underlying profitability for the second consecutive quarter, with a Q1 non-IFRS operating margin of 0.1%. Devices & Services benefitted from a strong focus on cost as well as the reversal of

From: http://www.dailyfinance.com/2013/04/18/what-is-important-in-the-financial-world-4182013/

Business, Finance, Occupation & Industry

Sify Technologies to Announce FY 2012 Financial Results for Year Ended March 31, 2013 on Thursday, A

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By Business Wirevia The Motley Fool

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Sify Technologies to Announce FY 2012 Financial Results for Year Ended March 31, 2013 on Thursday, April 18, 2013

CHENNAI, India–(BUSINESS WIRE)– Sify Technologies Limited (NASDAQ NM: SIFY), a leader in Managed Enterprise, Network, IT and Software services in India with global delivery capabilities and a pioneer in consumer internet services, today announced that it will report its unaudited IFRS financial results for the full year ended, March 31, 2013 on Thursday, April 18, 2013 before the market opens.

In conjunction with the announcement, Sify will host a conference call at 8:30 AM ET with Mr. Raju Vegesna, Chairman of the Board, Mr. Kamal Nath, Chief Executive Officer and Mr. MP Vijay Kumar, Chief Financial Officer. Interested parties may participate by dialing 877-407-8031 (Toll Free in the U.S. or Canada) or +1-201-689-8031 (international), which will also be simultaneously broadcast live over the Internet at www.sifycorp.comorhttp://www.investorcalendar.com. Please allow extra time prior to the call to visit the site and download the streaming media software required to listen to the Internet broadcast.

The online archive of the Web cast will be available shortly after the conference call, or investors can listen to the replay by dialing 877-660-6853 (Toll Free in the U.S. or Canada) or +1-201-612-7415 (International) and entering conference ID number 412446. Please allow for some time post conference call to access the archive of the Web cast. The replay is available until 11:59 PM on April 25, 2013.

About Sify Technologies

Sify is among the largest Managed Enterprise, Network and IT Services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common telecom data network infrastructure reaching more than 1000 cities and towns in India.

A significant part of the company’s revenue is derived from Corporate Enterprise Services, which include Network and IT services, Connectivity, Security, Network management services, Enterprise applications, Hosting and Remote Infrastructure Management Services. Sify is a recognized ISO 9001:2008 certified service provider for network operations, data center operations and customer support, and for provisioning of VPNs, Internet bandwidth, VoIP solutions and integrated security solutions, and ISO / IEC 20000 – 1:2005 and ISO/IEC 27001:2005 certified for Internet Data Center operations. Sify has also built a credible reputation in the emerging Cloud Computing market and is today regarded as a domain leader. Sify has licenses to operate NLD (National Long Distance) and ILD (International Long Distance) services and offers VoIP back haul to long distance subscriber telephony

From: http://www.dailyfinance.com/2013/04/11/sify-technologies-to-announce-fy-2012-financial-re/

Business, Finance, Occupation & Industry

STENTYS Reports 2012 Financial Results

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By Business Wirevia The Motley Fool

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STENTYS Reports 2012 Financial Results

  • Further sales growth while controlling costs
  • Solid cash position to support clinical and commercial development
  • Michel Darnaud appointed Chairman of the Board of Directors

PRINCETON, N.J. & PARIS–(BUSINESS WIRE)– STENTYS (FR0010949404 – STNT), a medical technology company commercializing, in Europe, the world’s first and only Self-Apposing® stent to treat acute myocardial infarction (AMI), today announced its audited annual results for the 2012 financial year to 31 December 2012 as approved by the Board of Directorson 27 March 2013.

  • 2012 annual results: further sales growth while controlling costs

€ thousands – IFRS*

     

31 December 2012

…read more
Source: FULL ARTICLE at DailyFinance
Business, Finance, Occupation & Industry

Resolution Limited Lifts Dividend By 6% to Yield 7.7%

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By Maynard Paton, The Motley Fool

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LONDON — The shares of Resolution  rallied 6 pence to 274 pence during early London trade this morning after the life and pensions group improved its annual dividend by 6%.

The full-year payout was raised from 19.89 pence to 21.14 pence per share, to give the shares a 7.7% yield.

The dividend lift accompanied 2012 results that showed underlying IFRS operating profits before tax rising from 277 million pounds to 309 million pounds.

The figures also revealed group new business of 1.2 billion pounds on an annual premium equivalent basis, as well as a 2 billion-pound capital adequacy at the group’s Friends Life subsidiary.

Andy Briggs, the chief executive of Resolution, said:

The Group has made good operational and financial progress in 2012 and, importantly, sustainable free surplus has improved.

Our strategic outlook is attractive, we have scale businesses and our delivery in 2012 has given us competitive advantage so we are well placed for the key market trends. I am confident that we are creating a sustainable business that will improve returns for shareholders.

Briggs also admitted the dividend would be held at 21.14 pence per share from 2012, with “the expectation that a progressive dividend be considered once sustainable cash generation reaches the 400 million pounds per annum distribution target.”

Last year’s “sustainable free surplus” came in at 300 million pounds.

Of course, whether a 7.7% income from what could well be a standstill dividend is enough to make Resolution a buy right now is something only you can decide.

But if you already own Resolution shares and are looking for an alternative income opportunity, this exclusive in-depth report reviews a different yield possibility.

Indeed, this alternative offers a 5.7% income, might be worth 850 pence versus around 700 pence now — and has been declared the “Motley Fool’s Top Income Stock For 2013!”

Just click here for the report — it’s free.

The article Resolution Limited Lifts Dividend By 6% to Yield 7.7% originally appeared on Fool.com.

Maynard does not own any share mentioned in this article.
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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Should You Buy Aviva Today?

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By Royston Wild, The Motley Fool

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LONDON — In my opinion investors should resist ploughing their cash into Aviva while uncertainty over the firm’s future dividend policy continues to swirl.

The insurer is currently undergoing severe restructuring work to transform its complex, multi-layered structure into a sole operating company with associated subsidiaries, in an effort to stymie recent heavy losses. But I believe Aviva’s metamorphosis still has a long way to go, which could result in further earnings pressure and, thus, pressure shareholder payouts again.

But bear with me, as I believe that there are other fantastic opportunities with which to significantly bolster your investment income, which I’ll mention in a minute.

Dividends could yet take another bashing
Aviva has traditionally been a popular pick with investors seeking to enhance their income, with shareholder payouts well ahead of those offered by the rest of the U.K. blue-chip stable. Indeed, expected dividend yields of 6.6% and 6.8% for 2013 and 2014 respectively compare favorably with the current 3.5% FTSE 100 average.

Despite this, Aviva has, in recent times, taken the scythe to dividends, as earnings have come under pressure — indeed, annual dividends have been slashed three times since the turn of the Millennium. And last year’s full-year payout of 19 pence represented a gargantuan 27% drop from the 2011 equivalent.

City brokers expect the dividend to pick up this year and next, to 21.6 pence and 22.1 pence, correspondingly, although better income growth prospects can probably be sought elsewhere. And even though dividend coverage of 2.1 times and 2.2 times for these years is above the generally regarded safety mark of 2, renewed earnings pressure could put these modest projected payout increases in jeopardy.

Heavy 2012 losses could spill over into coming years
The insurer announced earlier this month that IFRS operating profit before tax slumped 15% last year, to £2.1 billion, with life insurance and general insurance slumping 5% and 4%, respectively, to £1.8 billion and £893 million.

Transformation work should push basic earnings per share marginally higher in 2013 and 2014, according to broker forecasts, to 45.7 pence and 49.5 pence, from 44.7 pence last year. Last year’s reading was down from 53.8 pence in 2011.

These earnings predictions leave the firm currently trading on a P/E ratio of 6.8 and 6.3 for this year and next, well below the life insurance sector average of 12.7.

However, Aviva’s recent dividend record leaves a lot to be desired compared with its peers, making the current rating fully justified in my opinion. Do not be surprised to see dividend forecast cuts in the near future should the firm’s already lowly earnings growth projections fail to materialise.

Bolster your investment income with the Fool
Although Aviva is a risky pick for income investors at present, there are plenty of other FTSE 100 winners available to really jump start your investment income. So, check out this brand new and exclusive report covering a multitude of other premium payers …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Medworxx Inc. Files Year-End Financial Statements and Management's Discussion and Analysis

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By Business Wirevia The Motley Fool

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Medworxx Inc. Files Year-End Financial Statements and Management’s Discussion and Analysis

Medworxx files year-end statements with record revenues as the company continues to expand internationally

TORONTO–(BUSINESS WIRE)– Medworxx Inc. (“Medworxx“) (TSXV:MWX), a leader in clinical patient flow, and compliance and education solutions, announced today it has filed with the Canadian securities authorities its Consolidated Financial Statements and Management’s Discussion and Analysis report for the year ended December 31, 2012. These documents may be viewed under the Company’s profile at www.sedar.com.

Highlights of the results for the year ended December 31, 2012 include:

  • Revenue for the year ended December 31, 2012 was $6,071,224, representing an increase of 26.5% over revenues of $4,799,961 for the previous year. The increase is attributable primarily to growth in the Patient Flow platform of 34.4% and the Compliance and Education platform of 29.6%. Revenue for the quarter ended December 31, 2012 was $1,316,548, representing an increase of 5.4% over revenue of $1,249,655, in the same quarter last year.
  • The Company incurred a net loss of $103,201 for the year ended December 31, 2012 as compared to net income of $28,144 for the year ended December 31, 2011. The loss this year is well within the Company’s budgeted results and reinforces the Company’s focus on growing revenue and investing in building sales and partner channels for the Medworxx Patient Flow platform.
  • EBITDA (a non-IFRS measure), defined as Earnings before Interest, Taxation, Depreciation, and Amortization, for the year ended December 31, 2012 was $260,190 as compared to EBITDA of $355,533 for the same period last year, representing a decrease of $95,343. The losses are a direct result of the company’s plan to invest in building sales and partner channels for the Medworxx Patient Flow platform.
  • Adjusted EBITDA (a non-IFRS measure), defined as Earnings before Interest, Taxation, Depreciation, Amortization, and Stock Option Expense, for the year ended December 31, 2012 was $467,096 as compared to $460,283 for the same period last year, representing an improvement of $6,813.
  • On May 24, 2012, the Company completed a brokered private placement that yielded gross proceeds of $3,106,496. Net proceeds from the issuance were $2,715,379. The Company proposes to use the proceeds of the private placement for general working capital purposes, to build sales and partner …read more
    Source: FULL ARTICLE at DailyFinance
Business, Finance, Occupation & Industry

Gemalto Full Year 2012 Results

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By Business Wirevia The Motley Fool

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Gemalto Full Year 2012 Results

  • Record revenue at over € 2.2 billion, up +9%, and double-digit growth anticipated in 2013
  • Profit from ongoing operations up +26%, surpassing the €300 million objective a year in advance
  • Platforms & Services revenue up +26%, with double-digit growth in all segments

To better assess past and future performance, the income statement is presented on an adjusted basis (see page 2 “Basis of preparation of financial information”). Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable IFRS measures and should be read only in conjunction with the consolidated financial statements. The reconciliation with the IFRS income statement is presented in Appendix 2. The statement of financial position is prepared in accordance with IFRS, and the cash position variation schedule is derived from the IFRS cash flow statement.

AMSTERDAM–(BUSINESS WIRE)– Regulatory News:

Gemalto (Euronext NL0000400653 – GTO), the world leader in digital security today announces its results for the full year 2012.

 

Key figures of the adjusted income statement

…read more
Source: FULL ARTICLE at DailyFinance
Business, Finance, Occupation & Industry

Prudential Raises Its Dividend By 16%

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By Sam Robson, The Motley Fool

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LONDON — Shares in Prudential   lifted 2.8%, or 29 pence, to 1,058 pence in early trade this morning, as the insurer released its full-year results for 2012. 

In a fortnight that has seen rivals Aviva and RSA Insurance cut their dividends, Prudential raised their full-year dividend by 15.9% from 25.19 pence in 2011, to 29.19 pence per share.

Operating profit increased by 25% to come in at a very healthy £2.53bn, while total pre-tax profit jumped 54%, standing at 2.81 billion pounds. Management pointed toward the addition of over one million customers in Asia, as operating profit in the region was reported as 988 million pounds, a 26% lift on the previous year.

On a European embedded value (EEV), new business profit was up 14% to 2.45 billion pounds, with Asia seeing an 18% increase to 1.27 billion pounds.

Group chief executive Tidjane Thiam commented:

Prudential has produced a strong performance in 2012. Globally, we have around 24 million insurance customers and have continued to provide each of them with products and services that they value highly, delivering on our promise to offer quality savings and protection products. In 2012, we added more than one million new customers in Asia, while in the US we sold more than 200,000 new policies. In the UK, where we have 7 million customers, we are one of the largest providers of annuities and in 2012 we paid £2.9 billion in income to our annuitants.

On the future of the company, Thiam went on to say:

The quality of our products, the strength of our multi-channel distribution platform, and our ability to innovate and develop creative solutions to meet our customers’ needs, translate over time into profitable and sustainable growth for the company. Our focus on capital and risk management has allowed us to deliver both growth and cash to shareholders, despite a challenging macroeconomic environment. Our business in Asia has continued to demonstrate the benefits of both its scale and its diversification, by growing strongly on each of our three key performance metrics: new business profit, IFRS operating profit and cash.

Additionally, today Prudential announced the appointment of a new independent non-executive director. Anthony John Liddell Nightingale, CMG, has high-level, Asia-focused experience, and was previously managing director of Jardine Matheson, the diversified Asia-focused business group, from 2006 until he retired in March 2012. Nightingale replaces Keki Dadiseth, who is retiring from the Board on 1 May 2013 after eight years’ service.

Today’s boost on the stock market means that the shares have now increased fivefold from their 2009 low of 206p only five years ago. If you’re looking for companies that have strong potential to soar in price, then we’ve pinpointed our favorite growth share from the FTSE 100. Our analysts have produced a free report in which they evaluate its finances and risks, and its growth prospects going forward. Simply click here to get your copy delivered to your inbox immediately — it’s completely free.

The article Prudential Raises Its Dividend By 16% originally appeared on Fool.com.

…read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Jackson® Reports 2012 Record IFRS Net Income of $992.0 Million

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By Business Wirevia The Motley Fool

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Jackson ® Reports 2012 Record IFRS Net Income of $992.0 Million

  • Record 2012 IFRS1 net income of $992.0 million, up 73.0%
  • Record total sales and deposits2 of $25.5 billion, up 11.3%
  • Year-end 2012 IFRS assets total $165.4 billion, up from $119.0 billion at year-end 2011
  • Year-end 2012 regulatory adjusted capital of $4.7 billion, up from $3.9 billion at year-end 2011

LANSING, Mich.–(BUSINESS WIRE)– Jackson National Life Insurance Company® (Jackson) reported record IFRS net income of $992.0 million for full-year 2012, up from $572.8 million in full-year 2011, driven primarily by higher fee income from variable annuities.

Jackson, an indirect wholly owned subsidiary of the United Kingdom’s Prudential plc (NYS: PUK) , increased total IFRS assets to $165.4 billion3 at the end of 2012, up from $119.0 billion at the end of 2011. As of December 31, 2012, the company had $4.7 billion of regulatory adjusted capital, more than eight times the minimum regulatory requirement.4

On September 4, 2012, Jackson completed the acquisition of SRLC America Holding Corp. (SRLC) from Swiss Re Life Capital Ltd (Swiss Re) for an initial consideration of $587.3 million.5 SRLC was the U.S. holding company of Reassure America Life Insurance Company (REALIC), which was merged into Jackson on December 31, 2012. The acquisition helps diversify Jackson’s sources of earnings by increasing the amount of income generated from stable life insurance profits.

“In 2012, Jackson had a successful year and we are pleased with the progress that has been made on several fronts. During the year, we delivered record IFRS profits and record sales despite the challenges that the industry faces from the current low-interest rate environment. We completed the acquisition of SRLC which has broadened our policyholder base and enhanced the resilience of our earnings. We launched a new variable annuity product, Elite Access®, which provides tax-efficient access to alternative investments. And, most importantly, we maintained a strong capital position throughout the entire year. There is good momentum within our businesses and we are well positioned as we move into 2013,” said Mike Wells, Jackson’s president and chief executive officer.

Financial Strength

During 2012, all four primary rating agencies—A.M. Best, Standard & Poor’s, Fitch Ratings and Moody’s Investors Service, Inc.—affirmed …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

DBV Technologies reports Full Year 2012 financial results and provides R&amp;D update

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By Business Wirevia The Motley Fool

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DBV Technologies reports Full Year 2012 financial results and provides R&D update

  • 50% enrollment reached in ‘VIPES’ phase IIb clinical study, the largest ever international efficacy study for the treatment of peanut allergy

BAGNEUX, France–(BUSINESS WIRE)– Regulatory News:

DBV Technologies (Paris:DBV) (Euronext: DBV – ISIN: FR0010417345), creator of Viaskin®, a new standard in the treatment of allergy, announced today its full year 2012 results, approved by the Board of Directors on March 1st, 2013. DBV also provided an R&D update, most notably the ‘VIPES‘ phase IIb clinical study of Viaskin® Peanut, the largest global trial in desensitization of peanut-allergic children and adults.

Dr. Pierre-Henri Benhamou, Chairman & CEO of DBV Technologies, commented: “DBV has dramatically evolved in 2012, with the IPO providing sufficient financing for our corporate goals. Throughout the year, we have also met many other important milestones, thrusting DBV into 2013 on very solid grounds. Clinical development will be a key focus in 2013, starting today with the achievement of 50% enrollment in “VIPES“. Throughout this year, we also expect significant increase of pharmaceutical and business development efforts in preparation for future commercialization.”

Full year 2012 results

…read more
Source: FULL ARTICLE at DailyFinance

Summary financial information (IFRS – reviewed by statutory auditors)
In million euros  
News, Politics, Government

Nokia Needs To Sustain Lumia Momentum In 2013

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By Trefis Team, Contributor   Nokia’s announced a strong set of results Thursday, finishing what has been a very volatile year for the company with a net profit in the final quarter. While Lumia shipment volume of 4.4 million units was more than 4 times the same in the year-ago quarter, the newly launched full-touch Asha phones saw close to 45% growth in unit sales sequentially. The strong Lumia performance, together with a sustained high demand for Asha smartphones in the emerging markets, helped the company maintain underlying profitability for the full year despite reporting losses in the first half of the year. A big reason for Nokia’s relative outperformance in the second half has also been the ongoing turnaround at its infrastructure JV with Siemens, Nokia Siemens Networks, which reported an all-time high operating margin (non-IFRS) of 14.4% last quarter.
Source: FULL ARTICLE at Forbes Latest

News, Politics, Government

Nokia Gets A Boost As Its Infrastructure JV Returns To Strength On LTE Wins

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By Trefis Team, Contributor While the spotlight has been mainly on Nokia’s smartphone business of late as the company negotiates a tricky turnaround with its Windows Phone-based Lumia series, its oft-ignored telecom joint venture with Siemens seems to be finally turning the corner. Nokia Siemens Networks, the 50:50 JV between Nokia and Siemens, recently issued positive guidance for the fourth quarter 2012 announcing that its operating margins (non-IFRS) will exceed its previous guidance on the higher end by at least 100 basis points.
Source: FULL ARTICLE at Forbes Latest