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Just like you never want to hear a doctor say "oops" in the operating room, you never want to see a going-concern statement
in a financial report about a company you own. Accountants throw these in when they've been over the books, talked to customers,
and checked the horoscopes and have concluded there is "substantial doubt" about a company's ability to remain in business.
In short, don't blame the accountants if the company files for bankruptcy protection.
You¿d reckon that a going-concern
statement would be enough to send investors running to the exits, but it's not. True, many large institutions automatically
bail when an existing company gets slapped with one of these, but many individuals (often wrongly) take a chance they know
more than the bean counters.
During the tech boom of the late 1990s, many companies actually went public even though they had been hit with going-concern statements. Many of those companies subsequently disappeared. Enough said.
Home / Markets / Industries / Telecom
Thursday, July 24, 2008
Ericsson wins prime integrator revenue assurance contract with Telefonica across Latin America
Comtex
STOCKHOLM, SWEDEN, Jul 24, 2008 (MARKET WIRE via COMTEX) ----Ericsson (NASDAQ: ERIC) will provide business consulting and systems integration services for Telefonica's fixed and mobile operations across Latin America, allowing Telefonica to improve control of its revenue streams.
Under the agreement, Ericsson will provide business consulting services including financial-risk evaluation and revenue assurance life-cycle management, supported by technical analysis. Ericsson will also provide systems integration services such as design, adaptation and integration of customized Revenue Assurance solutions for Telefonica's Latin American operations.
Ericsson's transformation project and solution will enable Telefonica to gain greater control of its operations and prevent the recurrence of inconsistencies that adversely affect revenue.
Luis Miguel Gilperez, Wireless Executive Director Telefonica Latin America Group, says: "As a long-term partner, Ericsson understands our specific needs and has detailed knowledge of our business processes, making it the perfect choice to take on the prime integrator role to drive and manage this complex transformation project and deliver us a competitive edge."
Ingemar Naeve, President of Ericsson Iberia , says: "We are proud to continue our long-running partnership with global customer Telefonica. Our expertise in business consulting and systems integration, together with our deep knowledge of Telefonica's infrastructure and technology, will help Telefonica increase revenue control for both fixed and mobile sides across its Latin American operations.
"This milestone contract reaffirms Ericsson's position as the leading provider of telecom services. The deal also underlines the importance of the prime integrator role to drive and manage these kinds of complex transformation projects," Naeve says.
Based on its technology leadership and expertise in business and technology consulting, network deployment and systems integration, Ericsson is well-positioned to take on the role of prime integrator
Ericsson Business Consulting provides leading companies in the telecom, media and internet industries with advisory services for business strategy, service and application development, operational efficiency and revenue management. Ericsson has carried out more than 700 business consulting projects around the world and is a leading provider of business consultancy services.
Ericsson's Systems Integration organization delivers more than 1000 systems integration projects per year in multivendor and multiple-technology environments. Projects range from single-solution integration projects to end-to-end solution transformation projects.
Notes to editors: Ericsson's standard multimedia content is available at the broadcast room: www.ericsson.com/broadcast_room Ericsson Global Services - strengthening operator competitiveness www.ericsson.com/ericsson/press/facts_figures/doc/global_services.pdf
Ericsson is the world's leading provider of technology and services to telecom operators. The market leader in 2G and 3G mobile technologies, Ericsson supplies communications services and manages networks that serve more than 195 million subscribers. The company's portfolio comprises mobile and fixed network infrastructure and broadband and multimedia solutions for operators, enterprises and developers. The Sony Ericsson joint venture provides consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of 'communication for all' through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 70,000 employees generated revenue of USD 27.9 billion (SEK 188 billion) in 2007. Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is listed on OMX Nordic Exchange Stockholm and NASDAQ.
For more information, visit www.ericsson.com or www.ericsson.mobi.
FOR FURTHER INFORMATION, PLEASE CONTACT Ericsson Media Relations Phone: +46 8 719 69 92 E-mail: press.relations@ericsson.com
Copyright Copyright Hugin AS 2008. All rights reserved.
SOURCE: Ericsson
Copyright 2008 Market Wire, All rights reserved.
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