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Apple's New iPod Nano Causes Waves Around the Web
News and reviews of Apple's second generation iPod nano have been spreading around the web like wildfire - some positive and some negative. Find out what the world has been saying about the newest Apple on the block.
London, United Kingdom, September 19, 2006 --(PR.COM)-- Apple's new iPod nano is the sleekest and most colorful nano yet. Unlike the first gen, which was limited to white and black only, the new nano is also available in pink, green, and blue. Beneath the hood, the new unit has also had an upgrade in power, featuring up to 8GB of memory to store a massive 2,000 songs.
It has become journalistic tradition on the web to follow every new Apple release with either extreme praise and hardened cynicism, and this new model has not been the exception. Blompo.com has been following every step at http://www.blompo.com/product.php?product=32, and can attest that reactions to this particular release have been more polarised than most.
The excitement surrounding this new Apple product started with MacDailyNews.com, who reported the following predictions of industry analyst Shaw Wu: "An interesting data point we have picked up on the new Nanos is a new magnesium-based casing,. We believe this new casing will improve scratch-resistance, durability, and help lower Apple's support and warranty costs." Wu said that he expected the iPod Nano to arrive in the second half of September. As it turned out, Apple if anything beat Wu's predictions, announcing the second generation early on in the second week of September - on September the 12th.
The first person to break the news of the actual launch on the web was James Kim of the CNET Alpha Blog, who said lovingly: "So, in addition to the boost in capacity, the new Nano is all about improvement: improved durability, sleekness, and battery; some wish-list features such as gapless playback; and of course, an array of color choices." Geekzone.co.nz was equally quick off the mark and equally praising: "The new iPod nano supports gapless playback, and includes Apples Auto-Sync technology that automatically downloads a users digital music collection, photos or podcasts onto iPod nano and keeps it up-to-date whenever iPod nano is plugged into a Mac or Windows computer using USB 2.0."
Even at this early stage though, the cynics were there to bring us back down to earth. The UK's T3 Magazine said: "As bastions of jaw-dropping design Apple slightly disappointed with its new spectrum of iPod nanos. See, when the nano first launched in September 2005 its shockingly slim body left the world smitten, but these colourful updates don't come close to replicating that love-struck sensation." AppleInsider.com were also happy to point out some negatives: "Although the new nano is precisely the same height and width of its predecessor, Apple has conveniently (for its margins) offset the dock connector by about a millimeter, making the new nano completely incompatible with the first-generation iPod nano dock."
But the world got its first hands-on-reviews of the iPod nano from the 13th of September and these have almost all been positive. "The nano is nearly perfect; it is amazingly small and packs almost all of the features of the iPod photo and a few more." said ArsTechnica.com, also adding however that it suffered from "its lack of Firewire, lack of compatibility with older accessories, and no current support for video output".
DigitalTrends.com didn't hold back its praise: "The newly 'remastered' iPod nano is yet another awesome product from Apple. The new design is a refreshing change from the scratch-prone and fingerprint-attracting construction of the original iPod nano.", and CNET Asia was no less loving: "The second-generation Apple iPod nano is like the successful offspring of an iPod mini and a first-generation iPod nano. It's small, stylish, user-friendly, and competitively priced--a great player all around and suitable for a variety of users."
The comparison between the iPod nano and the discontinued iPod mini was inevitable, and CNET was not the only one to make it. Here's PlayListMag.com: "The second-generation iPod nano is both a welcome step back to the more colorful (and scratch-resistant) days of the iPod mini and a moderate step forward in functionality. This middle-child iPod feels and looks great with its rugged aluminum finish and bright display."
mp3.com were slightly more refined than their competitors, instead taking a rather neutral ground in their review: "The 2G Nano doesn't really bring anything new to the table in the fast-advancing world of MP3 players, but the improvements over the original are certainly welcome." Also slightly less overwhelmed was PC Magazine, who pointed out minor problems with loud volumes: "the sound quality is very good until you push the volume near the limit", but they weren't about to take the wind from Apple's sails: "When all is said and done, the second-gen iPod nano is an excellent product. It is slim, attractive, sturdy, and easy to use, not to mention the excellent integration with iTunes."
Overall, most of the reviews of the new second generation Apple iPod Nano have been exactly the way Steve Jobs would have hoped, but the world has forgotten its initial love affair with the iPod nano and this time round is not afraid to come out and criticise its shortcomings. This is a market that now has alternatives, and if you are looking for an MP3 player the iPod nano isn't necessarily the only or best option available to you.
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AutoZone 4th Quarter Sales up 3.0%; Adjusted EPS up 14.6%
MEMPHIS, Tenn., Sept. 19, 2006 (PRIMEZONE) -- AutoZone, Inc. (NYSE:AZO) today reported net sales of $1.939 billion for its fourth quarter (16 weeks) ended August 26, 2006, up 3.0% from fiscal fourth quarter 2005. Same store sales, or sales for stores open at least one year, were down 0.9% for the quarter.
Net income for the quarter increased 3.3% over the same period last year to $213.5 million, while diluted earnings per share increased 9.6% to $2.92 per share from $2.66 per share reported in the year-ago quarter.
Under its share repurchase program, AutoZone repurchased 3.7 million shares of its common stock for $340.0 million during the fourth quarter, at an average price of $91 per share. For the fiscal year ended August 26, 2006, AutoZone repurchased 6.2 million shares of its common stock for $578.1 million, at an average price of $93 per share.
For the quarter, gross profit, as a percentage of sales, was 49.7% (versus 48.7% last year). The Company's improvement in gross margin has largely been due to the Company's ongoing category management initiatives which include management of procurement costs, continued optimization of merchandise assortment, and an ongoing focus on direct importing initiatives. Additionally, operating expenses, as a percentage of sales, were 30.4% (versus 30.0% last year). A portion of the increase in operating expenses this year reflected $5.2 million in share-based expenses resulting from the adoption of the Financial Accounting Standards Board ("FASB") Statement No. 123(R), "Share-Based Payments." Excluding this non-comparable expense item, adjusted operating expenses were 30.1% (versus 30.0% last year) or 12 basis points over last year. Higher occupancy costs versus last year contributed to the increase in comparable operating expenses.
Excluding this quarter's share-based charges and last year's discrete tax benefit, adjusted net income increased 8.1%, while adjusted diluted earnings per share of $2.96 were up 14.6% versus the year-ago quarter.
The Company's adjusted inventory per store level, including supplier owned pay-on-scan inventory, as of August 26, 2006, was $501 thousand versus $494 thousand last year. Net inventory, defined as merchandise inventories less accounts payable, increased on a per store level to $38 thousand from $34 thousand last year.
"While we are pleased with this past quarter's bottom line results, and we are encouraged with the progress we are making on the major initiatives launched at the beginning of the year, we were not satisfied with this quarter's sales performance. Our ongoing initiatives, which focus on improving the customer shopping experience, resulted in measurable increases in customer service metrics throughout the year. While the financial burdens faced by our customers have been well-documented by many retailers, we continue to believe there are many opportunities to further improve our sales performance for the future," said Bill Rhodes, President and Chief Executive Officer.
During the quarter ended August 26, 2006, AutoZone opened 69 new stores, closed 1 store, and replaced 7 stores in the U.S. while additionally opening 8 new stores in Mexico. Additionally, the Company re-opened 4 U.S. stores closed due to hurricane-related damage. For the year, AutoZone opened 185 stores, closed 2 stores, and replaced 18 stores, while additionally opening 19 new stores in Mexico. As of August 26, 2006, the Company had 3,771 stores in 48 states plus the District of Columbia and Puerto Rico in the U.S. and 100 stores in Mexico.
AutoZone is the nation's leading retailer of automotive parts and accessories. Each store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Many stores also have a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, and service stations. AutoZone also sells the ALLDATA brand diagnostic and repair software. On the web, AutoZone sells diagnostic and repair information, and auto and light truck parts through www.autozone.com. AutoZone does not derive revenue from automotive repair or installation.
AutoZone will host a conference call this morning, Tuesday, September 19, 2006, beginning at 10:00 a.m. (EDT) to discuss the fourth quarter results. Investors may listen to the conference call live and review supporting slides on the AutoZone corporate website, www.autozoneinc.com by clicking "Investor Relations," "Conference Calls." The call will also be available by dialing (210) 839-8923. A replay of the call and slides will be available on AutoZone's website. In addition, a replay of the call will be available by dialing (203) 369-0972 through Monday, September 25, 2006, at 11:59 p.m. (EDT).
This release includes certain financial information not derived in accordance with generally accepted accounting principles ("GAAP"). These non-GAAP measures include adjusted inventory, adjusted inventory per store, adjusted debt, adjusted debt/EBITDAR, adjusted rent expense, adjusted operating expense, adjusted operating profit, adjusted income before taxes, adjusted income taxes, adjusted net income, adjusted basic earnings per share, and adjusted diluted earnings per share. The Company believes that the presentation of these non-GAAP measures provides information that is useful to investors as it indicates more clearly the Company's comparative year-to-year operating results, but this information should not be considered a substitute for any measures derived in accordance with GAAP. Management manages the Company's debt levels to a ratio of adjusted debt to EBITDAR and manages cash flows available for share repurchase by monitoring cash flows before share repurchases, as shown on the attached tables. This is important information for the Company's management of its debt levels and share repurchases. We have included a reconciliation of this information to the most comparable GAAP measures in the accompanying reconciliation tables.
Certain statements contained in this press release are forward-looking statements. Forward-looking statements typically use words such as "believe," "anticipate," "should," "intend," "plan," "will," "expect," "estimate," "project," "positioned," "strategy," and similar expressions. These are based on assumptions and assessments made by our management in light of experience and perception of historical trends, current conditions, expected future developments and other factors that we believe to be appropriate. These forward-looking statements are subject to a number of risks and uncertainties, including without limitation: competition; product demand; the economy; the ability to hire and retain qualified employees; consumer debt levels; inflation; weather; raw material costs of our suppliers; energy prices; war and the prospect of war, including terrorist activity; availability of consumer transportation; construction delays; access to available and feasible financing; and changes in laws or regulations. Forward-looking statements are not guarantees of future performance and actual results; developments and business decisions may differ from those contemplated by such forward-looking statements, and such events could materially and adversely affect our business. Forward-looking statements speak only as of the date made. Except as required by applicable law, we undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results may materially differ from anticipated results. Please refer to the Risk Factors section of AutoZone's Form 10-K for the fiscal year ended August 27, 2005, for more information related to those risks.
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HONG KONG, Oct. 5 (Xinhuanet) -- About four months after the equestrian event of the 2008 Beijing Olympics was decided to be staged in Hong Kong, the local organizing committee for the sport was formally set up here on Wednesday.
The committee announced after its first meeting that the Chief Executive of the Hong Kong Special Administrative Region Government (HKSAR) Hon Donald Tsang would be the patron and the Chief Secretary Rafael Hui for Administration would be the president.
The committee, a decision-making body for the organization of the 2008 Olympic and Paralympic equestrian events, also has four vice-presidents as follows: Hon Patrick Ho, the secretary of Home Affairs of HKSAR; Hon Timothy Fok, president of the Olympic committee of Hong Kong, China; Yang Shu'an, executive vice-president of Beijing Organizing Committee for the 29th Olympiad; and Ronald Arculli, Chairman of Hong Kong jockey club.
Hui and the four other officials heading up the committee werepresent at the news conference after the meeting. Hui said he was pleased with the progress made in the meeting.
"The task of delivering the 2008 Olympic and Paralympic equestrian events begins today, " said Hui.
"It will be a major job, building quality venues and providing the support infrastructure in the right way at the right time.
"But the continuous efforts and support from different parties and major stakeholders will ensure that we meet our targets, " added Hui.
He said the meeting had confirmed the terms of reference of theequestrian committee and agreed to establish an executive body, Equestrian Committee (Hong Kong) of Beijing Organizing Committee for the Games of the XXIX Olympiad, which will be in the form of alimited company registered under the Companies Ordinance of Hong Kong.
An open exercise will soon be conducted to recruit the chief executive officer of the company, added Hui.
Meanwhile, the committee also agreed in principle during the meeting to further study the proposal of setting up a trust fund to promote community participation for the events.
The decision of staging the equestrian events of the Beijing Games in Hong Kong was announced by the International Olympic Committee after talks between Games organizers and the International Equestrian Federation in Singapore on July 8.
During the past four months, IOC members visited Hong Kong for several times, among which an official visit led by IOC Coordination Commission Chairman Hein Verbruggen gave Hong Kong thumbs-up for the preparations.
"We were very impressed by the proposed venues for the equestrian competitions in Hong Kong and the preparatory work there", said Verbruggen in a statement after the visit ended.
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LISBON, Oct. 4 (Xinhuanet) -- Portugal, Italy and the Netherlands can assure their qualification for the Germany 2006 World Cup on Saturday by only obtaining a point in their respective matches of the European heat, two rounds prior to its completion.
Portugal, leading Group 3 with 24 points, five more than Slovakia and Russia in the second and third positions apiece- will meet Liechtenstein, which is in the penultimate position of the group. Portugal need only to draw at Aveiro to qualify for Germany2006.
In the same situation is Italy which leads Group 5 with 17 points, five more points than its group rivals Norway (second) and Slovenia (third).
Italy will meet Slovenia on Saturday at Palermo and a draw would be sufficient to win a ticket to Germany.
On the other hand, the Netherlands, the leader of Group 1 with 28 points, has a four-point advantage over its nearest rival Czech Republic.
Both teams will meet in an away match at Prague and a draw would suffice for the Dutch to qualify to next year's World Cup.
Should they qualify they would join the teams that have alreadyqualified for Germany 2006: Argentina, Brazil, Iran, Mexico, Saudi Arabia, South Korea and United States.
Germany, as the hosts, directly qualified to the tournament without having to participate in the qualifiers. Enditem
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