QWEST REPORTS FIRST QUARTER 2009 RESULTS

April 29, 2009

• Achieves substantial increase in adjusted free cash flow
• Strong growth in net income and EPS
• Continued revenue growth in Business Markets supported by demand for data and IP services
• Steady demand for consumer broadband services
• Solid progress on wireless transition
• Margins improve in each business segment on strong cost controls
  
  
  
  DENVER, April 29, 2009 - Qwest Communications International Inc. (NYSE:Q) today reported financial results for the first quarter 2009. In the quarter, net income was $206 million, an increase of 37 percent compared to $150 million for the first quarter of 2008. Earnings per share for the quarter were 12 cents, a 50 percent increase from the first quarter of 2008. The current quarter results reflect a strong contribution from each business segment. Earnings per share were impacted by an increase in non-cash pension and OPEB expense, which was offset by a lower tax rate and reduced net interest expense. First quarter 2009 results include a 1 cent per share charge for severance, realignment and restructuring cost compared to 2 cents per share in the first quarter of 2008.
  
  Revenue in the quarter was $3.2 billion, a decline of 7 percent compared to $3.4 billion in the first quarter of 2008 and a decline of 4 percent compared to the fourth quarter of 2008. As expected, Qwest’s move from a wireless MVNO model to a reseller model beginning in the third quarter of 2008 impacted reported revenue comparisons in the period. Excluding wireless MVNO services, revenues decreased 5 percent vs. the first quarter of 2008 and declined 3 percent sequentially. Adjusted EBITDA for the quarter was $1.15 billion, flat to year-ago results and a 3 percent decline compared to $1.18 billion in the fourth quarter. In the first quarter of 2009, adjusted EBITDA includes approximately $50 million of incremental non-cash pension and OPEB expenses. The adjusted EBITDA margin percentage expanded to 36.1 percent in the period compared to 33.6 percent in the first quarter of 2008 and 35.6 percent in the fourth quarter. Adjusted free cash flow for the quarter was $339 million compared to $56 million reported in the first quarter of 2008.
  
  In the first quarter, Qwest continued to demonstrate steady progress on profitability goals with all segments reporting year-over-year and sequential improvement in segment margin percentages. The company continued to achieve solid demand for data and Internet services across all segments. Business Markets revenue growth is once again expected to have outperformed the industry in the first quarter. Qwest added 42,000 net new broadband customers in the quarter. Demand was fueled by expanded availability of higher speeds offered with fiber-based services. Qwest transitioned nearly 100,000 customers from its wireless MVNO operation to the Verizon Wireless resale platform in the quarter and reported 30,000 net wireless additions. Qwest has announced that it expects to terminate its wireless MVNO services in October of this year. Qwest also reported strong growth in video subscribers, adding 34,000 customers in the quarter through its partnership with DIRECTV.
  
  “Disciplined execution and focus on cost controls have produced a strong start to the year given the current economic climate”, said Edward A. Mueller, Qwest Chairman and CEO. “We are seeing tangible results from our focus on our key strategies to perfect the customer experience, including demand for our leading data services and strong results from our partnerships. We continue to tightly manage spending and investments to preserve financial strength and mitigate near-term economic pressures.”
  
  CONSOLIDATED FINANCIAL RESULTS
  Unaudited (in millions, except per share amounts)
  
  1Q 2009 4Q 2008 Change 1Q 2008 Change
  Operating Revenue $3,173 $3,315 (4)% $3,399 (7)%
  Income before Income Taxes 298 290 3% 245 22%
  Net Income 206 177 16% 150 37%
  Net Income per Diluted Share $0.12 $0.10 20% $0.08 50%
  

Revenue
Total revenue for the first quarter of $3.2 billion reflects 5 percent year-over-year growth in data, Internet and video revenue, which was offset by a decline of 11 percent in voice revenue and lower wireless revenue. Data and Internet revenue growth was the result of strong service revenue growth in both Business Markets and Mass Markets. Voice revenue results reflect lower access lines and the company’s efforts to improve the profitability of its wholesale long-distance business, while wireless results include the impact from the migration to the resale platform.

Expense

First-quarter operating expenses of $2.6 billion decreased 9 percent compared to the year-ago period. Expense reductions were broad based including both facility and employee-related costs. At the end of the period, Qwest had approximately 32,800 employees compared to 36,500 at the end of the first quarter of 2008, a 10 percent reduction.

Net Income

Net income for the quarter was $206 million compared to $177 million in the fourth quarter and $150 million in the first quarter of 2008. Net income this quarter reflects an effective income tax rate of 31 percent compared to 39 percent in the year-ago period. The lower rate is primarily due to the reversal of reserves for uncertain tax positions. Qwest currently expects its effective income tax rate will return to more normal levels in the remaining quarters of the year.

SEGMENT FINANCIAL RESULTS

Business Markets

The Business Markets segment delivered solid performance under more challenging market conditions in the quarter. Business Markets revenue totaled $1.0 billion, an increase of 3 percent year over year and a decline of 3 percent from the fourth quarter. Top-line performance reflects continued growth in recurring services revenue offset by lower equipment revenue. Excluding equipment revenue, Business Markets revenue increased 2 percent annually and 1 percent over the fourth quarter. Strategic product revenue increased by 23 percent year over year while voice revenue declined 5 percent.

Segment income was $396 million in the quarter, a 6 percent increase year over year and in line with the fourth quarter. Operating expenses were up 1 percent year over year but decreased 5 percent from the fourth quarter mostly due to lower employee-related expenses and lower equipment costs. The segment income was 38.9 percent of revenues in the quarter, compared to 37.8 percent in the first quarter of 2008 and 37.5 percent in the fourth quarter.

Mass Markets

The Mass Markets segment produced solid broadband and video subscriber growth, and strong progress on expense initiatives largely offset revenue pressures. Revenue for Mass Markets was $1.3 billion, a decrease of 11 percent year over year and a decline of 4 percent sequentially. Revenue results were impacted by continued access line losses and the wireless migration. Excluding wireless MVNO services, Mass Markets revenue decreased 6 percent year over year and 1 percent sequentially. In the first quarter, data, Internet and video revenues improved 5 percent annually on continued subscriber growth.

At the end of the first quarter, Qwest was serving 2.9 million broadband subscribers, which is an increase of 7 percent from the year-ago period. The video subscriber base was 832,000 at the end of the period, an increase of 21 percent from the first quarter of 2008. Mass market access lines were 7.5 million at the end of the quarter and declined at an annual rate of 11.4 percent in the period. The total wireless base at the end of the first quarter was 747,000, with about 60 percent of customers being served on the Verizon Wireless platform.

Mass Markets segment income was $724 million, which was flat with the year-ago period and a decline of 2 percent sequentially. Operating expenses declined 21 percent compared to the first quarter of 2008 and 6 percent sequentially due to lower marketing expenses, reduced wireless MVNO operating costs and lower network operations costs. Segment margin percentage of 54.7 percent increased from both the 48.6 percent reported in the year-ago period and 53.5 percent reported in the fourth quarter.

Wholesale Markets

Wholesale Markets segment revenue was lower in the quarter due to lower long-distance volumes and a decline in access revenue. Revenue was impacted by the company’s continued focus on improving wholesale profitability. Wholesale reported first quarter revenue of $752 million, a decline of 11 percent compared to the first quarter of 2008 and a 5 percent decline from the fourth quarter. Compared to the year-ago period, data and Internet revenue was essentially flat, while voice revenue declined 19 percent.

A more profitable revenue mix and strong expense controls largely offset the impact of lower revenue. Wholesale segment income for the quarter was $475 million, a decline of 2 percent from the first and fourth quarter of 2008. Segment income was 63.2 percent of revenues in the first quarter, an increase from 57.5 percent in the first quarter a year ago and 61.7 percent in the fourth quarter.

Cash Flow and Capital Spending

Adjusted free cash flow for the quarter of $339 million was substantially ahead of the year-ago period and was particularly strong in light of typical first quarter seasonal effects including annual bonus payments and semi-annual debt interest payments. These impacts were more than offset by improved cash from operations, lower capital investment spending and reduced working capital requirements due to improved collections and extended days payable outstanding.
Capital spending in the quarter was $334 million, a decrease of 20 percent from the year-ago quarter and 7 percent sequentially. The decline in capital expenditures was mostly due to project timing. A significant portion of capital investment continues to be focused on broadband expansion, including fiber to the node.

Balance Sheet

In the first quarter, Qwest retired approximately $230 million of maturing debt. At the end of the quarter, the company had gross debt outstanding of $13.3 billion. With cash and cash equivalents of $541 million, net debt was $12.8 billion, a decline of nearly $200 million from the fourth quarter of 2008. The ratio of net debt to annualized adjusted EBITDA for the quarter was approximately 2.8 compared to a ratio of 2.9 in the year-ago period and the fourth quarter.

Earlier this month Qwest sold 8.375 percent, 7-year notes at its Qwest Corporation subsidiary. The debt securities have an aggregate principal value of $811 million and the sale netted $738 million in cash proceeds for Qwest. The company also expanded its undrawn revolving credit facility to $910 million, an increase of $60 million.

Shareholder Returns

During the first quarter, Qwest paid a dividend of 8 cents per share, returning nearly $140 million to shareholders. On April 15, Qwest’s Board of Directors approved the payment of a second quarter dividend of 8 cents per share. The dividend will be paid on June 12, 2009, to shareholders of record as of May 22, 2009.

Guidance

Qwest continues to expect full year 2009 adjusted free cash flow will be $1.4 to $1.5 billion. Full year adjusted EBITDA is expected to be $4.2 to $4.4 billion, inclusive of an expected increase in non-cash pension and OPEB expense of $200 million. Capital expenditures are expected to be $1.8 billion or lower.

Conference Call Today
As previously announced, Qwest will host a conference call for investors and the media today at 9 a.m. EDT. A live webcast, including a simultaneous slide presentation, and replay of the call is available at www.qwest.com/about/investor/events. Additional quarterly historical financial information can be found at www.qwest.com/about/investors/financial/index.

(Click here for financial tables)

About Qwest
Customers coast to coast turn to Qwest's industry-leading national fiber-optic network and world-class customer service to meet their communications and entertainment needs. For residential customers, Qwest offers a new generation of fiber-optic high-speed Internet service, as well as digital home phone, Verizon Wireless, and DIRECTV services. Qwest is also the choice of 95 percent of Fortune 500 companies, offering a full suite of network, data and voice services for small businesses, large businesses, government agencies and wholesale customers. Additionally, Qwest participates in Networx, the largest communications services contract in the world, and is recognized as a leader in the network services market by a leading technology industry analyst firm.


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Forward-Looking Statement Note

This release may contain projections and other forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by us with the Securities and Exchange Commission, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including but not limited to: access line losses due to increased competition, including from technology substitution of our access lines with wireless and cable alternatives, among others; our substantial indebtedness, and our inability to complete any efforts to further de-lever our balance sheet; adverse results of increased review and scrutiny by media and others (including any internal analyses) of financial reporting issues and practices or otherwise; rapid and significant changes in technology and markets; any adverse developments in commercial disputes or legal proceedings; potential fluctuations in quarterly results; volatility of our stock price; intense competition in the markets in which we compete including the effects of consolidation in our industry; changes in demand for our products and services; acceleration of the deployment of advanced new services, such as broadband data, wireless and video services, which could require substantial expenditure of financial and other resources in excess of contemplated levels; higher than anticipated employee levels, capital expenditures and operating expenses; adverse changes in the regulatory or legislative environment affecting our business; changes in the outcome of future events from the assumed outcome included in our significant accounting policies; our ability to utilize net operating losses in projected amounts; and continued unfavorable general economic conditions, including the current financial crisis.

The information contained in this release is a statement of Qwest’s present intention, belief or expectation and is based upon, among other things, the existing regulatory environment, industry conditions, market conditions and prices, the economy in general and Qwest’s assumptions. Qwest may change its intention, belief or expectation, at any time and without notice, based upon any changes in such factors, in Qwest’s assumptions or otherwise. The cautionary statements contained or referred to in this release should be considered in connection with any subsequent written or oral forward-looking statements that Qwest or persons acting on its behalf may issue. This release may include analysts’ estimates and other information prepared by third parties for which Qwest assumes no responsibility.

Qwest undertakes no obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements and other statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

By including any information in this release, Qwest does not necessarily acknowledge that disclosure of such information is required by applicable law or that the information is material.


The marks that comprise the Qwest logo are registered trademarks of Qwest Communications International Inc. in the U.S. and certain other countries.


Contact Information Media ContactDiane Reberger303-992-1662diane.reberger@qwest.com Investor ContactKurt Fawkes800-567-7296

FIS REPORTS STRONG EARNINGS GROWTH

April 28, 2009

Adjusted EPS of $0.31, up 19.2%; Adjusted EBITDA margin of 22.7%, up 100 basis points; Free cash flow increases to $119 million

Jacksonville, Fla. – Fidelity National Information Services, Inc. (NYSE:FIS), a leading global provider of technology services to financial institutions, today reported financial results for the quarter ended March 31, 2009.
Consolidated revenue of $797.8 million declined 3.9% in U.S. dollars and increased 0.3% in constant currency compared to $830.3 million in the first quarter of 2008. Non-GAAP adjusted net earnings increased 19.2% to $0.31 per share in U.S. dollars, compared to $0.26 in the prior year, and increased 23.1% in constant currency. The increase is attributable to improved operating performance, lower interest expense and a lower share count, partially offset by a slightly higher tax rate. GAAP net earnings from continuing operations attributable to common stockholders totaled $34.3 million, or $0.18 per share compared to $0.06 per share in the prior period. Free cash flow (cash from operations less capital expenditures) was $119.2 million compared with $4.9 million in the prior year quarter.
“FIS’s strong first quarter performance in the midst of ongoing economic uncertainty reflects the continued solid execution of our business plan and the strength of our operating model,” stated William P. Foley, II, executive chairman of FIS.
“We are very pleased with the strong growth in earnings, profit margins and free cash flow,” stated Lee A. Kennedy, president and chief executive officer. “Despite very difficult market conditions, our disciplined focus on improving efficiency and managing costs drove a 100 basis point improvement in our EBITDA margin, and contributed to the 19.2% increase in earnings per share. Although we expect challenging market conditions to persist throughout 2009, we remain confident in our ability to achieve solid earnings growth and strong free cash flow.”
Supplemental InformationConsolidated revenue in the first quarter of 2009 was $797.8 million, compared with $830.3 in the prior year quarter, a decrease of 3.9% in U.S. dollars. Excluding a $34.9 million unfavorable impact of foreign currency resulting from a strengthening of the U. S. dollar, consolidated revenue increased 0.3% driven by strong growth in International. Financial Solutions revenue declined 3.2% to $271.3 million compared to $280.4 million in the prior period, as increased demand for risk management and commercial outsourcing services was offset by lower software license and professional services revenue; Payment Solutions revenue declined 2.3% to $364.7 million compared to $373.3 million in the 2008 quarter, due primarily to a $9.7 million decline in the company’s retail check guarantee business. Excluding Check Services’ revenue from both periods, Payment Solutions revenue increased 0.4%; International revenue declined 8.3% to $162.3 million in U.S. dollars, compared to $176.9 million in the prior year quarter. International revenue increased 11.5% in constant currency, driven by 16.3% growth in payments and 4.5% growth in financial solutions.
Adjusted EBITDA increased 0.7% to $181.2 million in the first quarter of 2009 compared to $180.0 million in the 2008 quarter. The adjusted EBITDA margin improved 100 basis points to 22.7% compared to 21.7% in the prior-year quarter, driven by increased operating leverage and ongoing expense management. Financial Solutions EBITDA declined 2.9% to $102.0 million, due primarily to a decline in high margin software sales. The 37.6% margin was comparable to the prior period; Payment Solutions EBITDA increased 11.5% to $95.2 million, and the margin increased 320 basis points to 26.1%. The improvement is attributable to increased operating efficiency; International EBITDA decreased 8.6% to $23.4 million due to a $5.2 million unfavorable currency impact. The International margin of 14.4% was comparable to prior year.
The effective tax rate in the first quarter of 2009 was 34.5% compared to 33.1% in the first quarter of 2008.
Balance SheetFIS had $272.0 million in cash and cash equivalents at March 31, 2009. The company repaid $54.0 million of debt during the first quarter, reducing total debt outstanding to $2.46 billion, of which $2.1 billion has been swapped to fixed interest rates. The effective interest rate was 5.2% as of March 31, 2009.
Continuing an intensive focus on capital spending, capital expenditures totaled $45.3 million in the quarter, which is a 42% reduction from the $78.3 million spent in the prior year.
Acquisition UpdateOn April 1, 2009, FIS announced plans to acquire Metavante Technologies, Inc. (NYSE:MV). The transaction is subject to approval by FIS and Metavante shareholders, receipt of regulatory approvals and the satisfaction of customary closing conditions. Subject to receiving the required approvals, FIS expects to complete the transaction in the third quarter of 2009.
2009 OutlookFIS reaffirmed its full year outlook for adjusted net earnings of $1.60 to $1.66 per share. This guidance does not reflect the proposed acquisition of Metavante. FIS will update its fiscal 2009 guidance to include Metavante’s results following the completion of the transaction. Use of Non-GAAP Financial InformationGenerally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, the company has provided non-GAAP financial measures which it believes are useful to help investors better understand its financial performance, competitive position and prospects for the future. These non-GAAP measures include earnings before interest, taxes and amortization (EBITDA), adjusted net earnings, and free cash flow. Adjusted EBITDA excludes the impact of merger and acquisition and integration expenses, LPS spin-off related costs, certain stock compensation charges and certain other costs. Adjusted net earnings exclude the after-tax impact of merger and acquisition and integration expenses, LPS spin-off related costs, certain stock compensation charges, acquisition related amortization and certain other costs. Any non-GAAP measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP net earnings. Further, FIS’s non-GAAP measures may be calculated differently from similarly-titled measures of other companies. A reconciliation of these non-GAAP measures to related GAAP measures is included in the press release attachments. Conference Call and WebcastFIS will host a call with investors and analysts to discuss first quarter 2009 results on Wednesday, April 29, 2009, beginning at 8:30 a.m. Eastern daylight time. To register for the live event and to access a supplemental slide presentation, go to the Investor Relations section at http://www.fidelityinfoservices.com/ and click on “Events and Multimedia.” A webcast replay will be available on FIS’ Investor Relations website, and a telephone replay will be available through May 13, 2009, by dialing 800-475-6701 (USA) or 320-365-3844 (International). The access code will be 996633. To access a PDF version of this release and accompanying financial tables, go to http://www.investor.fidelityinfoservices.com/.
About Fidelity National Information Services, Inc.Fidelity National Information Services, Inc. (NYSE: FIS), a member of the S&P 500 Index, is a leading provider of core processing for financial institutions; card issuer and transaction processing services; and outsourcing services to financial institutions and retailers. FIS has processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10 and was ranked the number one banking technology provider in the world by American Banker and the research firm Financial Insights in the 2008 FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 14,000 financial institutions in more than 90 countries worldwide. For more information on Fidelity National Information Services, please visit http://www.fidelityinfoservices.com/.
Forward-Looking StatementsThis press release contains forward-looking statements, including certain plans, expectations, goals and projections, and statements about FIS’s acquisition of Metavante, which are subject to numerous assumptions, risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. The risks and uncertainties that forward-looking statements are subject to include, without limitation: changes in general economic, business and political conditions, including changes in the financial markets; the effect of governmental regulations, including the possibility that there are unexpected delays in obtaining regulatory approvals; the failure to obtain required transaction approvals from FIS’s and Metavante’s shareholders; the effects of our substantial leverage which may limit the funds available to make acquisitions and invest in our business; the risks of reduction in revenue from the elimination of existing and potential customers due to consolidation in the banking, retail and financial services industries or due to financial failures suffered by firms in those industries; actions that may be taken by the competitors, customers and suppliers of FIS or Metavante that may cause the transaction to be delayed or not completed; failures to adapt our services to changes in technology or in the marketplace; our potential inability to find suitable acquisition candidates or difficulties in integrating acquisitions; competitive pressures on product pricing and services; and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission. All forward-looking statements included in this document are based on information available at the time of the document. FIS assumes any obligation to update any forward-looking statement.

STERICYCLE, INC. REPORTS RESULTS FOR FIRST QUARTER 2009

April 28, 2009

Lake Forest, Illinois, April 28, 2009—Stericycle, Inc. (NASDAQ:SRCL), today reported financial results for the first quarter of 2009.

Revenues for the quarter ended March 31, 2009 were $277.1 million, up 8.8% from $254.8 million in the same quarter last year. Acquisitions less than 12 months old contributed approximately $19.8 million to the growth in revenues for the quarter. Revenues increased 15.1% compared to the first quarter of 2008 when adjusted for the unfavorable foreign exchange impact of $16.1 million. Gross profit was $127.8 million, up 12.5% from $113.6 million in the same quarter last year. Gross profit as a percent of revenue was 46.1% versus 44.6% in the first quarter of 2008.

Net income for the first quarter of 2009 was $40.7 million or $0.47 per diluted share compared with net income of $31.7 million or $0.35 per diluted share for the first quarter of 2008. Net income for the first quarter of 2008 included the effect of $3.3 million of charges related to an arbitration settlement and net income for the first quarter of 2009 included the effect of $0.4 million of charges related to the adoption of FAS 141R expensing of acquisition transaction related expenses. Adjusted for these charges, the earnings per diluted share increased from $0.39 in the first quarter of 2008 to $0.47 in the first quarter of 2009 or 20.8%.

Cash flow from operations was $76.0 million for the first quarter of 2009. Cash flow and increased loan balances were used to strengthen our business by acquisitions, international investments, capital expenditures and funding share repurchases.

For more information about Stericycle, please visit our website at http://www.stericycle.com/.

Safe Harbor Statement: Statements in this press release may contain forward-looking statements that involve risks and uncertainties, some of which are beyond our control (for example, general economic conditions). Our actual results could differ significantly from the results described in the forward-looking statements. Factors that could cause such differences include changes in governmental regulation of medical waste collection and treatment and increases in transportation and other operating costs, as well as the other factors described in our filings with the U.S. Securities and Exchange Commission. As a result, past financial performance should not be considered a reliable indicator of future performance, and investors should not use historical trends to anticipate future results or trends. We make no commitment to disclose any subsequent revisions to forward-looking statements.

Source : http://www.stericycle.com/.

Wisconsin Energy Honored Again as One of 'World's Most Ethical Companies'

MILWAUKEE, April 15, 2009 /PRNewswire-FirstCall via COMTEX/ -- For the second year in a row, Ethisphere magazine has named Wisconsin Energy Corporation (NYSE: WEC) as one of the World's Most Ethical Companies. Wisconsin Energy joined honorees such as Pepsi, McDonalds, Starbucks, Mattel, Aflac and Johns Hopkins Hospital on Ethisphere's 2009 honor roll. In March, Wisconsin Energy also was named - for the second year in a row - one of the nation's best corporate citizens by Corporate Responsibility Officer magazine. "We're delighted to be included on the 2009 list of most ethical companies," said Gale Klappa, chairman, president and chief executive officer. "This recognition underscores our commitment to conduct business with the highest level of integrity." Ninety-nine global companies, across 35 business sectors, were selected for inclusion in the 2009 list, which recognizes companies that demonstrate leadership in ethical business practices. Ethisphere used researchers and analysts to scrutinize more than 10,000 companies, reviewing each company's code of ethics, litigation and regulatory histories, and investment in innovation and sustainable business practices. "Ethisphere applauds this year's recipients for standing out among the crowd and putting ethics first," said Stefan Linssen, managing editor. Published quarterly, Ethisphere magazine addresses ethics, governance and compliance matters. Wisconsin Energy Corporation (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving more than 1.1 million electric customers in Wisconsin and Michigan's Upper Peninsula and more than 1 million natural gas customers in Wisconsin. The company's principal utilities are We Energies and Edison Sault Electric. The company's non-utility businesses include renewable energy technology and real estate development. Wisconsin Energy Corporation (www.wisconsinenergy.com), a component of the S&P 500, has more than $12 billion of assets, and approximately 5,000 employees and 48,000 stockholders of record. About Ethisphere Institute


The research-based Ethisphere Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. The Institute's associated membership group, the Ethisphere Council, is a forum for business ethics that includes more than 200 leading corporations, universities and institutions. The Ethisphere Council is dedicated to the development and advancement of individuals on its membership council through increased efficiency, innovation, tools, mentoring, advice, and unique career opportunities. Ethisphere Magazine, which publishes the globally recognized World's Most Ethical Companies Ranking(TM), is the quarterly publication of the Institute. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.org. SOURCE Wisconsin Energy Corporation

Wisconsin Energy Honored Again as One of 'World's Most Ethical Companies

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MILWAUKEE, April 15, 2009 /PRNewswire-FirstCall via COMTEX/ -- For the second year in a row, Ethisphere magazine has named Wisconsin Energy Corporation (NYSE: WEC) as one of the World's Most Ethical Companies. Wisconsin Energy joined honorees such as Pepsi, McDonalds, Starbucks, Mattel, Aflac and Johns Hopkins Hospital on Ethisphere's 2009 honor roll. In March, Wisconsin Energy also was named - for the second year in a row - one of the nation's best corporate citizens by Corporate Responsibility Officer magazine. "We're delighted to be included on the 2009 list of most ethical companies," said Gale Klappa, chairman, president and chief executive officer. "This recognition underscores our commitment to conduct business with the highest level of integrity." Ninety-nine global companies, across 35 business sectors, were selected for inclusion in the 2009 list, which recognizes companies that demonstrate leadership in ethical business practices. Ethisphere used researchers and analysts to scrutinize more than 10,000 companies, reviewing each company's code of ethics, litigation and regulatory histories, and investment in innovation and sustainable business practices. "Ethisphere applauds this year's recipients for standing out among the crowd and putting ethics first," said Stefan Linssen, managing editor. Published quarterly, Ethisphere magazine addresses ethics, governance and compliance matters. Wisconsin Energy Corporation (NYSE: WEC), based in Milwaukee, is one of the nation's premier energy companies, serving more than 1.1 million electric customers in Wisconsin and Michigan's Upper Peninsula and more than 1 million natural gas customers in Wisconsin. The company's principal utilities are We Energies and Edison Sault Electric. The company's non-utility businesses include renewable energy technology and real estate development. Wisconsin Energy Corporation (www.wisconsinenergy.com), a component of the S&P 500, has more than $12 billion of assets, and approximately 5,000 employees and 48,000 stockholders of record. About Ethisphere Institute
window.google_render_ad();
The research-based Ethisphere Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. The Institute's associated membership group, the Ethisphere Council, is a forum for business ethics that includes more than 200 leading corporations, universities and institutions. The Ethisphere Council is dedicated to the development and advancement of individuals on its membership council through increased efficiency, innovation, tools, mentoring, advice, and unique career opportunities. Ethisphere Magazine, which publishes the globally recognized World's Most Ethical Companies Ranking(TM), is the quarterly publication of the Institute. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.org. SOURCE Wisconsin Energy Corporation

D&B Schedules First Quarter 2009 Earnings Release and Teleconference

SHORT HILLS, N.J.--(BUSINESS WIRE)--Apr. 17, 2009-- D&B (NYSE: DNB), the leading provider of global business information, tools and commercial insight, has announced that first quarter 2009 earnings results are scheduled to be released after the financial markets close on Wednesday, April 29, 2009. A copy of the earnings release will be posted on D&B’s investor relations Web site at http://investor.dnb.com.
An earnings teleconference is scheduled for Thursday, April 30, 2009, at 10:00 a.m. (Eastern Time). Steve Alesio, chairman and chief executive officer of D&B, will host the call. Mr. Alesio's remarks will be followed by a question-and-answer period.
A live Webcast of the teleconference can be accessed on D&B’s investor relations Web site and a replay will be available after the conclusion of the live call.

Cognizant Reports Fourth Quarter and Year-end 2008 Results Fourth Quarter Revenue Up 26% Year-over-year and 2.5% SequentiallyFullyear Revenue Increase

Teaneck, NJ – February 13, 2009 – Cognizant Technology Solutions Corporation (NASDAQ: CTSH), a leading provider of information technology, consulting and business process outsourcing services, today announced its financial results for the quarter and year ended December 31, 2008.
Highlights – Fourth Quarter 2008
Quarterly revenue rose to $753.0 million, up 26% from the year-ago quarter.
Quarterly diluted EPS on a GAAP basis was $0.38, compared to $0.32 in the year-ago quarter.
Quarterly diluted EPS on a non-GAAP basis, which excludes stock-based compensation and stock-based Indian fringe benefit tax expenses, was $0.41, compared to $0.36 in the year-ago quarter.
Fourth quarter 2008 GAAP and non-GAAP diluted EPS includes the negative impact of $0.03 in non-operating foreign currency exchange losses.
Revenue for the fourth quarter of 2008 rose to $753.0 million, up 2.5% from $734.7 million in the third quarter of 2008, and up 26% from $600.0 million in the fourth quarter of 2007. GAAP net income was $112.3 million or $0.38 per diluted share compared to $96.3 million, or $0.32 per diluted share, in the fourth quarter of 2007. Diluted earnings per share on a non-GAAP basis were $0.41. GAAP operating margin for the quarter was 18.9%. Excluding stock based compensation expense of $10.9 million and stock-based Indian fringe benefit taxes of $0.7 million, non-GAAP operating margin was 20.5%, above the Company’s targeted 19-20% range. Earnings for the quarter include $11.4 million, or $0.03 per share, of non-operating foreign currency exchange losses primarily resulting from the weakness in the British Pound during the period. Reconciliations of non-GAAP financial measures to GAAP operating results and diluted EPS are included at the end of this release.
"We are pleased with our fourth quarter and full year 2008 financial performance. We exceeded our most recent revenue guidance and continued to generate industry-leading growth," said Francisco D’Souza, President and CEO of Cognizant. “The Cognizant value proposition stems from our deep understanding of the industry-specific and cyclical issues our clients confront. Our 2008 results demonstrate that even in the face of significant economic headwinds, clients turn to Cognizant as a trusted advisor to help them improve business performance and tap into new growth opportunities in an evolving economy.”
Mr. D’Souza continued: "As we look forward to 2009, we will continue to reinvest in our business in order to capitalize on opportunities for continued growth and increased market share. We are committed to maintaining our culture of openness and transparency and our tradition of the highest standards of ethics and corporate governance in our dealings with customers, employees, shareholders and other stakeholders."
Highlights – Full Year 2008
Revenue increased to $2.816 billion, up 32% from the previous year.
Diluted EPS on a GAAP basis was $1.44, compared to $1.15 in the previous year.
Diluted EPS on a non-GAAP basis, which excludes stock-based compensation and stock-based Indian fringe benefit tax expenses, was $1.59, compared to $1.27 in the previous year.
Revenue for 2008 increased to $2.816 billion, up 32% from $2.136 billion for 2007. GAAP net income was $430.8 million, or $1.44 per diluted share, compared to $350.1 million, or $1.15 per diluted share, for 2007. Diluted earnings per share on a non-GAAP basis were $1.59. GAAP operating margin was 18.3%. Excluding stock-based compensation expense of $43.9 million and stock-based Indian fringe benefit taxes of $8.1 million, non-GAAP operating margin was 20.2%. Reconciliations of these non-GAAP financial measures to GAAP operating results and diluted EPS are included in the table at the end of this release.
2009 Outlook – First Quarter & Full Year
Based on current global economic weakness and recent customer feedback, the Company is now providing the following guidance:
First quarter 2009 revenue anticipated to be at least $735 million.
First quarter 2009 diluted EPS is expected to be $0.37 to $0.38 on a GAAP basis and $0.41 to $0.42 on a non-GAAP basis, which excludes $0.04 of estimated stock-based compensation and stock-based Indian fringe benefit tax expense.
Fiscal 2009 revenue expected to be at least $3.1 billion, up at least 10% compared to 2008.
Fiscal 2009 diluted EPS expected to be at least $1.54 on a GAAP basis, and at least $1.72 on a non-GAAP basis, which excludes $0.18 of estimated stock-based compensation and stock-based Indian fringe benefit tax expense.
Due to current volatility in the currency markets, EPS guidance excludes any non-operating foreign currency exchange gain or loss.
"During 2008 we managed prudently, expanded selectively, and reinvested succinctly to maintain our industry-leading growth and distinct competitive differentiation," concluded Gordon Coburn, Chief Financial and Operating Officer. "In addition, we finished the year with the strongest balance sheet in our history, including over $924 million in cash and short-term/long-term investments. We believe that Cognizant is well-positioned to face the global economic challenges of the coming year and to continue to deliver value to our customers and, thereby, our shareholders."
Conference Call :
Cognizant will host a conference call February 13, at 9:00 a.m. (ET) to discuss the Company’s quarterly and year-end results. To listen to the call, please dial (800) 374-0467 domestically or (706) 679-3288 internationally and provide the conference ID number: 82223433. The call will also be broadcast live via the Internet at Cognizant’s web site, www.cognizant.com. Please go to the web site at least fifteen minutes prior to the call to register, download and install any necessary audio software. A replay will be made available on the web site at www.cognizant.com or by calling (800) 642-1687 for domestic callers and (706) 645-9291 for international callers and entering “82223433” from two hours after the end of the call until 11:59 p.m. (ET) on February 20, 2009.