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TMNG Global Reports 2009 Second Quarter Results
By TMNG Press Releases @ 4:05 PM :: 462 Views

Overland Park, KS – August 13, 2009 – TMNG Global (Nasdaq: TMNG), a leading provider of management consulting and software solution services to the global communications, media and entertainment industries, reported financial results for its 2009 second quarter ended July 4, 2009. 

 

Revenues in the second quarter of 2009 were $16.8 million, compared to revenues of $20.6 million in the second quarter of 2008 and $14.2 million in the first quarter of 2009. While year-over-year revenue comparisons continued to be affected by reduced customer spending in light of global macroeconomic trends, as well as unfavorable foreign exchange impact, the 19% sequential improvement reflects the Company’s focus on larger, long-term engagements. During the quarter, TMNG’s gross margin was 43.6%, compared with 46.2% in the second quarter of 2008 and 38.6% in the first quarter of 2009. The five percentage point sequential improvement in gross margin was due to the increase in utilization of consultants as a result of revenue growth, as well as a slight shift in project mix due to an increase in strategy engagements.   

 

TMNG Global reported a net loss of ($0.4) million, or ($0.01) per diluted share for the second quarter of 2009, compared to a net loss of ($8.9) million, or ($0.25) per diluted share in last year’s second quarter.  The 2008 second quarter included a non-cash goodwill impairment charge of $9.1 million. After adjusting for the after tax impact of non-cash charges, including the impairment charge, realized gains on auction rate securities, depreciation, amortization and share-based compensation, non-GAAP adjusted net income was $0.6 million, or $0.02 per diluted share, during the second quarter of 2009.  The comparable non-GAAP adjusted net income for the second quarter of fiscal 2008 was $2.1 million, or $0.06 per diluted share.  

 

TMNG Global generated cash flow from operations of $3.2 million in the second quarter of 2009, compared to $4.3 million in last year’s second quarter.

 

“TMNG executed very well on its strategic imperatives which include cementing engagements with our top revenue generating clients while continuing our targeted cost reductions.  These combined efforts translated to sequential revenue growth and positive cash flow from operations,” said Richard Nespola, TMNG Global Chairman and CEO. “We saw solid sequential revenue gains across each of our core practice areas, and our margins and key operating metrics all showed improvement.  Our markets remain unpredictable and challenging, but based upon client activity we hope to sustain these improvements over the near term while looking to capitalize more fully on our broadened portfolio of offerings and enhanced operating leverage as the economy improves.”

 

Financial Results for the Twenty-Six Weeks Ended July 4, 2009

For the twenty-six weeks ended July 4, 2009, revenues were $31.0 million, compared with $42.1 million in the comparable year-ago period. TMNG Global’s gross margin was 41.3% during the twenty-six weeks ended July 4, 2009, compared with 46.6% in the comparable year-ago period. 

 

Net loss for the twenty-six weeks ended July 4, 2009 was ($2.5) million or ($0.07) per diluted share, compared with a net loss of ($8.6) million or ($0.24) per diluted share in the comparable year-ago period. GAAP results included the goodwill impairment charge in the second quarter of 2008, as discussed above. The non-GAAP adjusted net loss, adjusted for the after tax impact of non-cash expenses, including the impairment charge, realized gains on auction rate securities, depreciation and amortization expense, and share-based compensation, was approximately ($0.7) million, or ($0.02) per diluted share, for the twenty-six weeks ended July 4, 2009.  The comparable non-GAAP adjusted net income for the twenty-six weeks ended June 28, 2008 was $4.4 million, or $0.12 per diluted share.

 

For the twenty-six weeks ended July 4, 2009, cash flow from operations was $0.5 million, compared to $6.8 million in the comparable year-ago period.

 

In addition to reporting net loss and net loss per share on a GAAP basis, this press release contains certain non-GAAP adjustments which are described in the schedule entitled “Reconciliation of GAAP Net Loss to Non-GAAP Adjusted Net Income (Loss)” that accompanies this press release.  In making these non-GAAP adjustments, the Company took into account certain non-cash expenses and benefits, including tax effects as applicable, and the impact of certain items that are generally not expected to be on-going in nature.  Management believes the exclusion of these items provides a useful basis for evaluating underlying business performance, but should not be considered in isolation and is not in accordance with, or a substitute for, evaluating Company performance utilizing GAAP financial information.  The Company believes that providing such adjusted results allows investors and other users of the Company’s financial statements to better understand TMNG Global’s comparative operating performance for the periods presented.

 

TMNG Global’s management uses the non-GAAP financial measure in its own evaluation of the Company’s performance, particularly when comparing performance to the prior year’s period and on a sequential basis.  TMNG Global’s non-GAAP measure may differ from similar measures by other companies, even if similar terms are used to identify such measures.  Although TMNG Global’s management believes the non-GAAP financial measure is useful in evaluating the performance of its business, TMNG Global acknowledges that items excluded from such measure have a material impact on the Company’s net loss and net loss per share calculated in accordance with GAAP.  Therefore, management uses non-GAAP measures in conjunction with GAAP results.  Investors and other users of our financial information should also consider the above factors when evaluating TMNG Global’s results.

 

Conference Call

The Company will host a conference call at 5:00 p.m. ET today to discuss 2009 second quarter results. Investors can access the conference call via a live webcast on the Company’s website, www.tmng.com, or by dialing 800-860-2442 in the United States or 412-858-4600 from international locations and referencing the TMNG Global call. A replay of the conference call will be archived on the Company’s website for one week. Additionally, a replay of the call will be available by dialing 877-344-7529, pass code 432696, through August 20, 2009.

 


About TMNG Global

TMNG Global (NASDAQ: TMNG) is a leading provider of professional services to the converging communications industry. Its companies, TMNG, CSMG, and Cartesian, and its base of over 500 consultants, have provided strategy, management, and technical consulting, as well as products and services, to more than 1200 communications service providers, entertainment, media, and technology companies and financial services firms worldwide.  The company is headquartered in Overland Park, Kansas, with offices in Boston, Chicago, London, New Jersey, New York, Shanghai and Washington, D. C.

 

Cautionary Statement Regarding Forward Looking Information

 

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  In particular, any statements that do not relate to historical or current facts constitute forward-looking statements, including any statements contained herein regarding expectations with respect to the Company’s future business, financial condition and results of operations. Forward-looking statements are subject to known and unknown risks, uncertainties, and contingencies, many of which are beyond the Company’s control, which may cause actual results, performance, or achievements to differ materially from those projected or implied in such forward-looking statements. Factors that might affect actual results, performance, or achievements include, among other things, the ability of the Company to successfully integrate recent acquisitions, conditions in the telecommunications industry, overall economic and business conditions (including the worsening of conditions in the credit markets and in general economic conditions), the demand for the Company’s services (including the slowing of client decisions on proposals and project opportunities along with scope reduction of existing projects), the level of cash and non-cash expenditures incurred by the Company, technological advances and competitive factors in the markets in which the Company competes, and the factors described in this press release and in TMNG Global’s filings with the Securities and Exchange Commission, including the risks described in TMNG Global’s periodic reports filed with the SEC, including, but not limited to, “Cautionary Statement Regarding Forward Looking Information” under Part I of its Annual Report on Form 10-K for the fiscal year ended January 3, 2009 and subsequent periodic reports containing updated disclosures of such risks. These filings are available at the SEC’s web site at www.sec.gov. TMNG Global does not intend to update these forward-looking statements and undertakes no duty to any person to provide any such update under any circumstances.

 

 THE MANAGEMENT NETWORK GROUP, INC.
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                 (In thousands, except per share data)
                              (unaudited)

                                  Thirteen Weeks     Twenty-six Weeks
                                       Ended               Ended
                                ------------------  ------------------
                                 July 4,  June 28,   July 4,  June 28,
                                  2009      2008      2009      2008
                                --------  --------  --------  --------

Revenues                       $ 16,825  $ 20,576  $ 31,022  $ 42,117

Cost of services (includes net
  non-cash share-based
  compensation expense of $80
  and $189 for the thirteen
  weeks ended July 4, 2009 and
  June 28, 2008, respectively
  and $168 and $382 for the
  twenty-six weeks ended July 4,
  2009 and June 28, 2008,
  respectively)                    9,490    11,072    18,208    22,486
                                --------  --------  --------  --------

Gross Profit                      7,335     9,504    12,814    19,631

Operating Expenses:

  Selling, general and
   administrative (includes net
   non-cash share-based
   compensation expense of $163
   and $407 for the thirteen
   weeks ended July 4, 2009 and
   June 28, 2008, respectively
   and $383 and $843 for the
   twenty-six weeks ended
   July 4, 2009 and June 28,
   2008, respectively)             7,354     8,120    14,762    16,962
Goodwill impairment                         9,079               9,079
Intangible asset amortization       491     1,246       965     2,494
                                --------  --------  --------  --------
Total operating expenses          7,845    18,445    15,727    28,535
                                --------  --------  --------  --------
Loss from operations               (510)   (8,941)   (2,913)   (8,904)
Other income (expense):
  Interest income                     56       211       138       517
  Interest expense                   (17)                (25)
  Other income                        83                 106
                                --------  --------  --------  --------
Total other income                  122       211       219       517
                                --------  --------  --------  --------
Loss before income tax
  provision                         (388)   (8,730)   (2,694)   (8,387)
Income tax benefit (provision)       38      (160)      160      (242)
                                --------  --------  --------  --------
Net loss                       $   (350) $ (8,890) $ (2,534) $ (8,629)
                                ========  ========  ========  ========

Net Loss per common share:
  Basic and diluted             $  (0.01) $  (0.25) $  (0.07) $  (0.24)
                                ========  ========  ========  ========

Weighted average shares used in
  calculation of net loss per
  basic and diluted common share  34,791    36,117    34,772    36,225
                                ========  ========  ========  ========



                  THE MANAGEMENT NETWORK GROUP, INC.
                CONDENSED CONSOLIDATED BALANCE SHEETS
                            (In thousands)
                             (unaudited)

                                                     July 4,   Jan. 3,
                                                      2009      2009
                                                    --------  --------
                                    ASSETS

CURRENT ASSETS:
  Cash and cash equivalents                         $  9,537  $  5,956
  Short-term investments                               7,375
  Receivables:
   Accounts receivable                                 9,466     8,247
   Accounts receivable -- unbilled                     5,264     4,540
                                                    --------  --------
                                                      14,730    12,787
   Less: Allowance for doubtful accounts                (358)     (379)
                                                    --------  --------
  Net receivables                                     14,372    12,408
  Prepaid and other current assets                     1,541     1,653
                                                    --------  --------
    Total current assets                              32,825    20,017

NONCURRENT ASSETS:
  Property and equipment, net                          2,147     1,801
  Goodwill                                             7,812     6,240
  Licenses and identifiable intangible assets, net     3,841     4,842
  Noncurrent investments                               6,823    13,404
  Other noncurrent assets                                502       410
                                                    --------  --------
Total Assets                                       $ 53,950  $ 46,714
                                                    ========  ========

          LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
  Trade accounts payable                            $  1,294  $  1,138
  Accrued payroll, bonuses and related expenses        5,051     4,053
  Other accrued liabilities                            3,788     3,010
  Deferred revenue                                     1,560       476
  Accrued contingent consideration                       161       161
  Unfavorable and other contractual obligations          706       697
  Current borrowings                                   4,845
                                                    --------  --------
    Total current liabilities                         17,405     9,535

NONCURRENT LIABILITIES:
  Unfavorable and other contractual obligations          820     1,062
  Noncurrent borrowings                                          1,485
  Other noncurrent liabilities                         1,173     1,006
                                                    --------  --------
    Total noncurrent liabilities                       1,993     3,553

Total stockholders' equity                           34,552    33,626
                                                    --------  --------
Total Liabilities and Stockholders' Equity         $ 53,950  $ 46,714
                                                    ========  ========


                  THE MANAGEMENT NETWORK GROUP, INC.
RECONCILIATION OF GAAP NET LOSS TO NON-GAAP ADJUSTED NET INCOME (LOSS)
                              (unaudited)
                 (in thousands, except per share data)


                                  Thirteen Weeks     Twenty-six Weeks
                                       Ended               Ended
                                ------------------  ------------------
                                 July 4,  June 28,   July 4,  June 28,
                                   2009     2008      2009      2008
                                --------  --------  --------  --------

Reconciliation of GAAP net loss
  to non-GAAP adjusted net
  income (loss):
  GAAP net loss                 $   (350) $ (8,890) $ (2,534) $ (8,629)
                                --------  --------  --------  --------

  Realized gain on auction rate
   securities                        (82)               (105)
  Goodwill impairment                        9,079               9,079
  Depreciation and amortization      860     1,594     1,656     3,186
  Non-cash share based
   compensation expense              243       596       551     1,225
  Tax effect of applicable
   non-GAAP adjustments              (62)     (252)     (220)     (511)
                                --------  --------  --------  --------
   Adjustments to GAAP net loss      959    11,017     1,882    12,979
                                --------  --------  --------  --------
Non-GAAP adjusted net income
  (loss)                        $    609  $  2,127  $   (652) $  4,350
                                ========  ========  ========  ========


Reconciliation of GAAP net loss
  per diluted common share to
  non-GAAP adjusted net income
  (loss) per diluted common
  share:
  GAAP net loss per diluted
   common share                 $  (0.01) $  (0.25) $  (0.07) $  (0.24)
                                --------  --------  --------  --------

  Realized gain on auction rate
   securities                      (0.00)              (0.00)
  Goodwill impairment                         0.25                0.25
  Depreciation and amortization     0.02      0.05      0.05      0.09
  Non-cash share based
   compensation expense             0.01      0.02      0.01      0.03
  Tax effect of applicable
   non-GAAP adjustments            (0.00)    (0.01)    (0.01)    (0.01)
                                --------  --------  --------  --------
   Adjustments to GAAP net loss
    per diluted common share        0.03      0.31      0.05      0.36
                                --------  --------  --------  --------
Non-GAAP adjusted net income
(loss) per diluted common
  share                         $   0.02  $   0.06  $  (0.02) $   0.12
                                ========  ========  ========  ========

Weighted average shares used in
  calculation of diluted net
  income (loss) per share         34,791    36,117    34,772    36,225
                                ========  ========  ========  ========

 

 


Contact:

Brainerd Communicators
Media
Ray Yeung
yeung@braincomm.com
Jo Anne Barrameda
barrameda@braincomm.com
Investors
Corey Kinger
kinger@braincomm.com
212.986.6667
TMNG Global Announces Scheduling of Second Quarter 2009 Earnings Release and Conference Call
By TMNG Press Releases @ 9:00 AM :: 500 Views

Overland Park, KS – July 28, 2009 – TMNG Global (Nasdaq: TMNG), a leading provider of management consulting services to the global communications, media and entertainment industries, today announced it will host a conference call to discuss second quarter 2009 financial results on Thursday, August 13, 2009 at 5:00 p.m. ET.

A news release outlining the second quarter 2009 results will be distributed at approximately 4:00 p.m. ET on August 13, 2009 and will also be available on the “Investor Relations” portion of TMNG’s Web site, www.tmng.com.

To participate on the live call, investors should dial 800-860-2442 in the United States or 412-858-4600 from international locations and reference the TMNG Global call approximately ten minutes prior to the start time. In addition, the call will be available via live webcast over the Internet on the “Investor Relations” portion of TMNG’s corporate Web site, www.tmng.com.  Investors should go to the Web site approximately 10 minutes prior to the start time of the call to register.

An on-line archive of the call will be available at www.tmng.com for one week. Additionally, a replay of the call will be available by dialing 877-344-7529, pass code 432696, through August 20, 2009.

About TMNG Global

TMNG Global (NASDAQ: TMNG) is a leading provider of professional services to the converging communications industry. Its companies, TMNG, CSMG, and Cartesian, and its base of over 600 consultants, have provided strategy, management, and technical consulting, as well as products and services, to more than 1200 communications service providers, entertainment, media, and technology companies and financial services firms worldwide. The company is headquartered in Overland Park, Kansas, with offices in Boston, Chicago, London, New Jersey, New York, Shanghai and Washington, D.C.

# # #

CONTACT: 

Brainerd Communicators

Ray Yeung / Jo Anne Barrameda (Media)    

yeung@braincomm.com / barrameda@braincomm.com

Corey Kinger (Investors)

kinger@braincomm.com

212.986.6667

TMNG Global Reports 2009 First Quarter Results
By TMNG Press Releases @ 3:13 PM :: 971 Views

Overland Park, KS – May 14, 2009 – TMNG Global (Nasdaq: TMNG), a leading provider of management consulting and software solution services to the global communications, media and entertainment industries, reported financial results for its 2009 first quarter ended April 4, 2009. 

Revenues in the first quarter of 2009 were $14.2 million, compared to revenues of $21.5 million in the first quarter of 2008 and $14.4 million in the fourth quarter of 2008. Revenue comparisons continued to be affected by reduced customer spending in light of global macroeconomic trends, as well as unfavorable foreign exchange impact. During the quarter, TMNG’s gross margin was 38.6%, compared with 47.0% in the first quarter of 2008 and 39.8% in the fourth quarter of 2008. The decrease in gross margin in the first quarter of 2009 was primarily due to declines in strategy project revenues and the Company’s pricing on larger, long-term engagements.

TMNG Global reported a net loss of $(2.2) million, or $(0.06) per diluted share for the first quarter of 2009, compared to net income of $0.3 million, or $0.01 per diluted share in last year’s first quarter.  After adjusting for the after tax impact of non-cash charges, including depreciation, amortization and share-based compensation, the non-GAAP adjusted net loss was $(1.3) million, or $(0.04) per diluted share, during the first quarter of 2009.  The comparable non-GAAP adjusted net income for the first quarter of fiscal 2008 was $2.2 million, or $0.06 per diluted share.  

“The first quarter results reflect the challenging environment that we expected, but also indicate that our strategies focused on cementing significant engagements with our top-revenue generating customers while closely managing costs are beginning to bear fruit,” said Richard Nespola, TMNG Global Chairman and CEO. “Our core management consulting business showed solid growth during the first quarter compared to the fourth quarter. While that growth was offset by a tough marketplace in strategy consulting, we believe we are in position to improve bottom-line results as the impact of our recent revenue ramp in management consulting and cost reductions begin to take hold in the second quarter.  We are also encouraged by the traction we are beginning to see with our Ascertain software offering in the U.S., with our first domestic deployment imminent and a major pilot poised for expansion.  The path through 2009 will continue to be a bumpy one, but we are cautiously optimistic given how the business has responded to our revenue growth and cost reduction initiatives. We will continue to manage to a goal of achieving positive cash flows from operations in 2009 and a resumption of top-line growth as the year progresses.”

In addition to reporting net (loss) income and net (loss) income per share on a GAAP basis, this press release contains certain non-GAAP adjustments which are described in the schedule entitled “Reconciliation of GAAP Net (Loss) Income to Non-GAAP Adjusted Net (Loss) Income” that accompanies this press release.  In making these non-GAAP adjustments, the Company took into account certain non-cash expenses and benefits, including tax effects as applicable, and the impact of certain items that are generally not expected to be on-going in nature.  Management believes the exclusion of these items provides a useful basis for evaluating underlying business performance, but should not be considered in isolation and is not in accordance with, or a substitute for, evaluating Company performance utilizing GAAP financial information.  The Company believes that providing such adjusted results allows investors and other users of the Company’s financial statements to better understand TMNG Global’s comparative operating performance for the periods presented.

TMNG Global’s management uses the non-GAAP financial measure in its own evaluation of the Company’s performance, particularly when comparing performance to the prior year’s period and on a sequential basis.  TMNG Global’s non-GAAP measure may differ from similar measures by other companies, even if similar terms are used to identify such measures.  Although TMNG Global’s management believes the non-GAAP financial measure is useful in evaluating the performance of its business, TMNG Global acknowledges that items excluded from such measure have a material impact on the Company’s net (loss) income and net (loss) income per share calculated in accordance with GAAP.  Therefore, management uses non-GAAP measures in conjunction with GAAP results.  Investors and other users of our financial information should also consider the above factors when evaluating TMNG Global’s results.

Conference Call

The Company will host a conference call at 5:00 p.m. ET today to discuss 2009 first quarter results. Investors can access the conference call via a live webcast on the Company’s website, www.tmng.com, or by dialing 800-860-2442 in the United States or 412-858-4600 from international locations and referencing the TMNG Global call. A replay of the conference call will be archived on the Company’s website for one week. Additionally, a replay of the call will be available by dialing 877-344-7529, pass code 418740, through May 21, 2009.

About TMNG Global

TMNG Global (NASDAQ: TMNG) is a leading provider of professional services to the converging communications industry. Its companies, TMNG, CSMG, and Cartesian, and its base of over 500 consultants, have provided strategy, management, and technical consulting, as well as products and services, to more than 1200 communications service providers, entertainment, media, and technology companies and financial services firms worldwide.  The company is headquartered in Overland Park, Kansas, with offices in Boston, Chicago, London, New Jersey, New York, Shanghai and Washington, D. C.

Cautionary Statement Regarding Forward Looking Information

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  In particular, any statements that do not relate to historical or current facts constitute forward-looking statements, including any statements contained herein regarding expectations with respect to the Company’s future business, financial condition and results of operations. Forward-looking statements are subject to known and unknown risks, uncertainties, and contingencies, many of which are beyond the Company’s control, which may cause actual results, performance, or achievements to differ materially from those projected or implied in such forward-looking statements. Factors that might affect actual results, performance, or achievements include, among other things, the ability of the Company to successfully integrate recent acquisitions, conditions in the telecommunications industry, overall economic and business conditions (including the recent worsening of conditions in the credit markets and in general economic conditions), the demand for the Company’s services (including the recent slowing of client decisions on proposals and project opportunities along with scope reduction of existing projects), the level of cash and non-cash expenditures incurred by the Company, technological advances and competitive factors in the markets in which the Company competes, and the factors described in this press release and in TMNG Global’s filings with the Securities and Exchange Commission, including the risks described in TMNG Global’s periodic reports filed with the SEC, including, but not limited to, “Cautionary Statement Regarding Forward Looking Information” under Part I of its Annual Report on Form 10-K for the fiscal year ended January 3, 2009 and subsequent periodic reports containing updated disclosures of such risks. These filings are available at the SEC’s web site at www.sec.gov. TMNG Global does not intend to update these forward-looking statements and undertakes no duty to any person to provide any such update under any circumstances.

(Please see attached financial tables)      

THE MANAGEMENT NETWORK GROUP, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(unaudited)
Thirteen Weeks Ended Thirteen Weeks Ended
April 4, March 29,
2009 2008
Revenues  $              14,197  $              21,541
Cost of services (includes net non-cash share-based compensation expense of $88 and $193 for the thirteen weeks ended April 4, 2009 and March 29, 2008, respectively) 8,718 11,414
Gross Profit 5,479 10,127
Operating Expenses:
Selling, general and administrative (includes net non-cash share-based compensation expense of $220 and $436 for the thirteen weeks ended April 4, 2009 and March 29, 2008, respectively) 7,408 8,842
Intangible asset amortization 474 1,248
Total operating expenses 7,882 10,090
(Loss) income from operations (2,403) 37
Other income:
    Interest income 82 306
    Other, net 15  
        Total other income 97 306
(Loss) income before income tax provision (2,306) 343
Income tax benefit (provision) 122 (82)
Net (loss) income  $              (2,184)  $                   261
   
Net (loss) income per common share:
Basic and diluted  $                (0.06)  $                  0.01
Weighted average shares used in calculation of net (loss) income per common share:
Basic 34,752 36,343
Diluted 34,752 36,490
THE MANAGEMENT NETWORK GROUP, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(unaudited)
April 4, January 3,
2009 2009
ASSETS
CURRENT ASSETS:
Cash and cash equivalents  $                   5,854  $                   5,956
Receivables:
Accounts receivable 10,952 8,247
Accounts receivable — unbilled 4,733 4,540
15,685 12,787
Less: Allowance for doubtful accounts (380) (379)
Net receivables 15,305 12,408
Prepaid and other current assets 1,984 1,653
Total current assets 23,143 20,017
NONCURRENT ASSETS:
Property and equipment, net 1,717 1,801
Goodwill 6,331 6,240
Licenses and identifiable intangible assets, net 4,282 4,842
Noncurrent investments 13,824 13,404
Other noncurrent assets 447 410
Total Assets  $                 49,744  $                 46,714
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Trade accounts payable  $                   1,424  $                   1,138
Accrued payroll, bonuses and related expenses 3,871 4,053
Other accrued liabilities 2,798 3,010
Deferred revenue 1,577 476
Accrued contingent consideration 161 161
Unfavorable and other contractual obligations 698 697
Total current liabilities 10,529 9,535
NONCURRENT LIABILITIES:
Unfavorable and other contractual obligations 934 1,062
Noncurrent borrowings 4,844 1,485
Other noncurrent liabilities 907 1,006
Total noncurrent liabilities 6,685 3,553
Total stockholders’ equity 32,530 33,626
Total Liabilities and Stockholders’ Equity  $                 49,744  $                 46,714
THE MANAGEMENT NETWORK GROUP, INC.
RECONCILIATION OF GAAP NET (LOSS) INCOME TO NON-GAAP ADJUSTED NET (LOSS) INCOME
(unaudited)
(in thousands, except per share data)
Thirteen Weeks Ended Thirteen Weeks Ended
April 4,   March 29,
2009 2008
Reconciliation of GAAP net (loss) income to non-GAAP adjusted net (loss) income:
GAAP net (loss) income  $            (2,184)  $                261
Realized gain on auction rate securities                     (23)
Depreciation and amortization                     796                 1,592
Non-cash share based compensation expense                     308                    629
Tax effect of applicable non-GAAP adjustments                   (158)                  (259)
Adjustments to GAAP net (loss) income                     923                 1,962
Non-GAAP adjusted net (loss) income  $            (1,261)  $             2,223
Reconciliation of GAAP net (loss) income per diluted common share to non-GAAP adjusted net (loss) income per diluted common share:
GAAP net (loss) income per diluted common share  $              (0.06)  $               0.01
Realized gain on auction rate securities 0.00
Depreciation and amortization                    0.02                   0.04
Non-cash share based compensation expense                    0.01                   0.02
Tax effect of applicable non-GAAP adjustments                  (0.01)                 (0.01)
Adjustments to GAAP net (loss) income per diluted common share                    0.02                   0.05
Non-GAAP adjusted net (loss) income per diluted common share  $              (0.04)  $               0.06
Weighted average shares used in calculation of diluted net (loss) income per common share 34,752 36,490


# # #

 

 

CONTACT: 

Brainerd Communicators

Ray Yeung / Jo Anne Barrameda (Media)    

yeung@braincomm.com / barrameda@braincomm.com

Corey Kinger (Investors)

kinger@braincomm.com

212.986.6667

TMNG Global Announces Scheduling of First Quarter 2009 Earnings Release and Conference Call
By TMNG Press Releases @ 1:31 PM :: 530 Views

Overland Park, KS – May 4, 2009 – TMNG Global (Nasdaq: TMNG), a leading provider of management consulting services to the global communications, media and entertainment industries, today announced it will host a conference call to discuss first quarter 2009 financial results on Thursday, May 14, 2009 at 5:00 p.m. ET.

A news release outlining the first quarter 2009 results will be distributed at approximately 4:00 p.m. ET on May 14, 2009 and will also be available on the “Investor Relations” portion of TMNG’s Web site, www.tmng.com.

To participate on the live call, investors should dial 800-860-2442 in the United States or 412-858-4600 from international locations and reference the TMNG Global call approximately ten minutes prior to the start time. In addition, the call will be available via live webcast over the Internet on the “Investor Relations” portion of TMNG’s corporate Web site, www.tmng.com.  Investors should go to the Web site approximately 10 minutes prior to the start time of the call to register.

An on-line archive of the call will be available at www.tmng.com for one week. Additionally, a replay of the call will be available by dialing 877-344-7529, pass code 418740, through May 21, 2009.

About TMNG Global

TMNG Global (NASDAQ: TMNG) is a leading provider of professional services to the converging communications industry. Its companies, TMNG, CSMG, and Cartesian, and its base of over 600 consultants, have provided strategy, management, and technical consulting, as well as products and services, to more than 1200 communications service providers, entertainment, media, and technology companies and financial services firms worldwide. The company is headquartered in Overland Park, Kansas, with offices in Boston, Chicago, London, New Jersey, New York, Shanghai and Washington, D.C.

# # #

CONTACT: 

Brainerd Communicators

Ray Yeung / Jo Anne Barrameda (Media)    

yeung@braincomm.com / barrameda@braincomm.com

Corey Kinger (Investors) kinger@braincomm.com

212.986.6667

Cartesian Wins Prestigious Queen’s Award for Enterprise Innovation
By TMNG Press Releases @ 3:00 AM :: 648 Views
Cartesian Wins Prestigious Queen’s Award for Enterprise Innovation

LONDON, 21 April 2009 - Cartesian Limited, a TMNG Global company and leading specialist technology consulting firm for the telecoms industry, today announced that it has received a celebrated Queen’s Award for Enterprise. Cartesian, which provides software and services to blue-chip telecommunications providers, won the award in the Innovation category for its software suite, Ascertain™.

In the UK alone, there are over 100 million fixed and mobile phone lines generating over 700 million call minutes and 150 million text messages daily.  Ensuring that the charges for these are correctly calculated and that all are put onto customer bills is highly complex.  Cartesian developed the Ascertain software to enable telecoms service providers to improve customer billing accuracy.  Ascertain provides sophisticated controls to ensure that customers are not overcharged, and that service providers do not lose revenue through under billing.  Through Ascertain, telecoms operators are saving millions of pounds in revenues that previously were not recouped.

Commenting on the receipt of the award, Alan Strong, co-founder of Cartesian said:

“We are honoured to receive the Queen’s Award, the most prestigious business accolade in the UK. The Cartesian team has been helping telecoms operators with their complex problems for many years now and we are thrilled that our pioneering work has been recognised in this way.”  

Development of the Ascertain software suite began nearly ten years ago and initially focused on provision of sophisticated, comprehensive control to assure the accuracy of the billing process. Improvements and enhancements have been made continuously since then and Ascertain now provides a software framework within which Cartesian have developed a range of solutions from revenue management through to provisioning.

Janos Sivo, co-founder of Cartesian commented:

“As the telecoms business is rapidly evolving and customer billing and service becomes more complex, we are continuing to invest and innovate to ensure that we provide the ongoing support that our customers need – allowing them to improve the service they offer to their customers as well as protect their bottom line.”

Founded in 1996 by four telecoms professionals, Cartesian has since grown to a team of about one hundred people.  The company is achieving considerable commercial success for its consulting services as well as its Ascertain software capability, with a proven track record on creating and retaining satisfied customers. 

Contact details
For further information, please contact:
Cartesian Limited
Bill Hill, Director
07770 637825 (mobile)
020 7643 5555 (switchboard)
bill.hill@cartesian.co.uk

Brainerd Communicators
Ray Yeung / Jo Anne Barrameda (Media)
yeung@braincomm.com
barrameda@braincomm.com

Notes for Editors

About Cartesian Limited, a TMNG Global Company
Cartesian, a TMNG Global company (NASDAQ: TMNG), is a technical consulting and software development company, delivering products and services to the telecoms industry. Cartesian’s expertise covers networks, engineering, and technology, through to revenue assurance and billing. Ascertain is Cartesian’s widely-deployed suite of software tools which address the revenue assurance, data integrity and provisioning needs of telecoms operators. More information on Cartesian can be found at http://www.cartesian.co.uk.

Cartesian was founded in 1996. It is based in Holborn, London and employs approximately 100 people.  Turnover last year was approximately £12 million. Its customers are the major telecoms and broadband operators in the UK and rest of Europe.

The Queen’s Awards are the leading business awards in the UK. Awards are given in the Innovation category for those firms who have demonstrated clear innovation which has led to significant commercial success.
TMNG Global Appoints A. Reza Jafari to Board of Directors
By TMNG Press Releases @ 9:00 AM :: 706 Views

TMNG Global Appoints A. Reza Jafari to Board of Directors

 

Overland Park, KS – April 20, 2009 – TMNG Global (NASDAQ: TMNG), a leading provider of management consulting services to the communications, media and entertainment industries, today announced the appointment of  A. Reza Jafari, Chairman and CEO of e-Development International, to the Company’s Board of Directors.  Mr. Jafari will serve on the Board’s Compensation Committee and Nominating & Corporate Governance Committee.  This appointment brings the number of independent directors on TMNG Global’s Board to five members on its seven-member Board.

 

“We are delighted to welcome Reza to the Board,” said Richard P. Nespola, Chairman & CEO of TMNG Global. “Reza’s proven track record and experience, especially in international markets, complements and reinforces TMNG’s unique positioning as the industry leader in the consulting arena with a focus on the converging communications industry.”

 

With more than 30 years experience in IT services, competitive telecoms, media and entertainment and education industries, Mr. Jafari brings a wealth of industry expertise to the TMNG Board.  In his current leadership position at e-Development International, Mr. Jafari manages a portfolio of business relationships and interests which include advising established and start-up companies and organizations across IT services and mobile communications businesses.

 

Prior to his current role, Mr. Jafari served as the Chairman and Managing Director of NeuStar International; and the Chairman and CEO of The Omega Partners.  He has also held various senior executive positions at Electronic Data Systems Corporation (EDS an HP Company) including the President of Global Industry Group for Communications, Media and Entertainment industries.


He also currently serves as the Vice Chairman of the Board of Gigafone, a mobile advertising firm based in the Netherlands. On the industry association front, Mr. Jafari is the Chairman of the Board of ITU TELECOM; a board member of the India, China and America (ICA) Institute and a member of the Dean's Council, Kelley School of business, Indiana University.

 

About TMNG Global

TMNG Global (NASDAQ: TMNG) is a leading provider of professional services to the converging communications industry. Its companies, TMNG, CSMG, and Cartesian and its base of over 600 consultants, have provided strategy, management, and technical consulting, as well as products and services, to more than 1200 communications service providers, entertainment, media, and technology companies and financial services firms worldwide. The company is headquartered in Overland Park, Kansas, with offices in Boston, London, New Jersey, Shanghai and Washington, D.C.

 

CONTACT:    
The Management Network Group, Inc.
Debby Brannon
debby.brannon@tmng.com
800.876.5329

Brainerd Communicators
Ray Yeung / Jo Anne Barrameda (Media)
yeung@braincomm.com
barrameda@braincomm.com

Corey Kinger (Investors)
kinger@braincomm.com
212.986.6667
Cartesian And Unitymedia Sign Contract for the Implementation of DigitalRoute’s MediationZone® Solution Coupled with Cartesian’s Ascertain® Revenue Assurance Solution
By TMNG Press Releases @ 7:00 AM :: 773 Views
Cartesian And Unitymedia Sign Contract for the Implementation of DigitalRoute’s MediationZone® Solution Coupled with Cartesian’s Ascertain® Revenue Assurance Solution

Overland Park, KS – April 6, 2009– Cartesian, a TMNG Global company providing technical consulting, software development and revenue assurance professional services,  together with DigitalRoute, the leading provider of embedded and standalone mediation and data integration software, today announced that they have signed a contract with Unitymedia, Europe’s third largest cable-based media and communications services provider based in Cologne, Germany, for the implementation of a turnkey mediation system (DigitalRoute’s MediationZone) coupled with relevant revenue assurance tools (Cartesian’s Ascertain®).

Unitymedia selected DigitalRoute’s MediationZone for its flexible architecture, ease of deployment and ease-of-use. MediationZone is replacing a legacy mediation system and will form a horizontal data integration layer across all of Unitymedia’s network technologies and services.  The systematic monitoring of usage information through the Ascertain revenue assurance tools will provide the required certainty of data, system and process integrity.

“We are impressed with DigitalRoute’s MediationZone providing advanced off-the-shelf mediation functionality and Cartesian’s Ascertain revenue assurance tool providing a continuous audit trail,” said Kamran Ziaee, Vice President Information Systems at Unitymedia. “The combination of MediationZone, Ascertain and Cartesian’s proven domain competence were significant factors in our decision making process,” he adds.

“The respective positioning of DigitalRoute and Cartesian is 100% complementary bringing together a world-class data integration platform with revenue assurance capabilities, strong system integration knowledge and domain expertise,” said Dr. Janos Sivo, Managing Director at Cartesian.

“The fact that the fast growing cable-based media and communications services provider Unitymedia chooses DigitalRoute’s MediationZone as the single mediation platform in open competition provides a proof point for our technological superiority and attractiveness of our value proposal. We are looking forward to the long term contribution we can make to help Unitymedia achieving their business targets,” said Jan Karlsson, Chief Executive Officer at DigitalRoute.

About Cartesian, a TMNG Global Company
Cartesian, a TMNG Global company, is a technical consulting and software development company, delivering products and services to the telecoms industry. Cartesian's expertise covers networks, engineering, and technology, through to revenue assurance and billing. Ascertain is Cartesian’s widely-deployed suite of software tools which address the revenue assurance, data integrity and provisioning needs of telecoms operators. More information on Cartesian can be found at http://www.cartesian.co.uk.

About DigitalRoute AB
DigitalRoute was founded in 2000 to provide best-of-breed mediation to telecom network and service providers worldwide. DigitalRoute’s MediationZone supports any combination of offline and online/active/bi-directional mediation of voice, data and content services, with carrier-grade functionality and unparalleled flexibility. There are more than 110 MediationZone deployments across Europe, Africa, the Middle East, North America, South America, Asia and Oceania. More information on DigitalRoute can be found at http://www.digitalroute.com.  

About Unitymedia
Unitymedia is Europe’s third largest cable-based media and communications services provider and the first truly integrated cable network in Germany. Headquartered in Cologne, it operates in Hesse and North Rhine-Westphalia, the most densely populated regions of Germany which produce about one third of Germany’s GDP. In addition to analogue cable services, Unitymedia is a leading provider of integrated triple play services, driving subscriber growth across digital television, broadband Internet and Telephony. As of 31 December 2008, Unitymedia had approximately 4.6 million basic cable subscribers, 568k Digital TV Pay revenue generating units (RGUs), 630k Internet RGUs and 363k Telephony RGUs. More information on Unitymedia can be found at http://www.unitymedia.de.

CONTACT:    
The Management Network Group, Inc.
Debby Brannon
debby.brannon@tmng.com
800.876.5329

Brainerd Communicators
Ray Yeung / Jo Anne Barrameda (Media)
yeung@braincomm.com
barrameda@braincomm.com

Corey Kinger (Investors)
kinger@braincomm.com
212.986.6667

TMNG Global and Adaption Technologies to Demonstrate Two New Cable Software Offerings at 2009 Cable Show
By TMNG Press Releases @ 7:00 AM :: 690 Views

TMNG Global and Adaption Technologies to Demonstrate Two New Cable Software Offerings at 2009 Cable Show

Ascertain® and Rialto® Solutions Vital for Capturing Cable Revenues in Challenging Economic Times

Overland Park, KS – Tuesday March 31, 2009– TMNG Global (NASDAQ: TMNG), a leading provider of management consulting services to the communications, media and entertainment industries, and Adaption Technologies, a leading innovator of tools that simplify the delivery of IP based services, announce the unveiling of two new software solutions at The Cable Show 2009, booth #2405, Hall B, held at the Washington DC Convention Center on April 1-3.  TMNG Global will debut its flagship Ascertain® Software Solutions, a unified revenue assurance and cost management platform.  Adaption Technologies will showcase its Rialto® offering, a BSS/OSS software platform for the commercial business SIP-based VoIP market. Both solutions are available for commercial use for the cable and broadband industry.

“In these challenging economic times, cable operators need to be laser focused on capturing new revenues and improving operational efficiencies,” said Bill Opet, Senior Vice President at TMNG Global.  “In addition to announcing the commercial availability of Ascertain®, we’ve teamed with Adaption Technologies to showcase their Rialto® VOIP solution. The combination of proven revenue assurance capabilities of Ascertain® with a program to expand the market penetration of cable VoIP services with Rialto® is a first for the industry. 

Featured demonstrations at the TMNG Global booth will include software solutions to help cable operators capture new revenues, expand market share, improve operational efficiencies, reduce revenue leakage, and drive new cash flow:

 

  • TMNG Global will demonstrate its Ascertain® Software Solutions – a unified platform for implementing revenue assurance, data integrity, partner settlement management, and cost management solutions for cable triple-play carriers.  These Ascertain® revenue assurance and cost management tools address the cash flow optimization needs of cable companies, providing rating accuracy, customer data reconciliation, analysis and reconciliation of event records, processing authentication and monitoring of trends and volumes.

 

  • Adaption Technologies will debut its Rialto® solution – a complete BSS / OSS software platform that can be easily customized and integrated with a cable operator’s existing infrastructure.  The operating platform simplifies the sales, deployment, activation and self-care complexities associated with enterprise VoIP.  This software solution will enable a service provider to drive new revenues through the sale of SIP-based VoIP services to medium-size commercial customers.

“For cable operators to successfully offer SIP-based VoIP services to the broadest available commercial business market, automation is necessary to rapidly increase revenues and to reduce the costs of service delivery,” said Keith Roberts, President of Adaption Technologies. “We look forward to strengthening our partnership with TMNG Global at The Cable Show and showcasing our Rialto® software offering that will enable cable operators to easily and quickly deploy an automated and robust SIP-based VoIP offering for the commercial business market.”

Visit the TMNG Global booth #2405 for a demonstration.  More information on these cable solutions can found at www.tmng.com/ascertain and www.adpt-tech.com.

###

About TMNG Global

TMNG Global (NASDAQ: TMNG) is a leading provider of professional services to the converging communications industry. Its companies, TMNG, CSMG, Cartesian and TWG Consulting, and its base of over 600 consultants, have provided strategy, management, and technical consulting, as well as products and services, to more than 1200 communications service providers, entertainment, media, and technology companies and financial services firms worldwide. The company is headquartered in Overland Park, Kansas, with offices in Boston, Chicago, London, New Jersey, New York, Shanghai and Washington, D.C.

About Adaption Technologies

Adaption Technologies is a leading innovator of tools that simplify the delivery of IP based services and enable service providers increased speed to market, flexibility, scalability and value, along with a powerful suite of service administration and e-commerce tools for self service by end users.  With more than 150 years of combined experience in changing the ways businesses employ technology, Adaption Technologies brings a highly refined perspective to the current state of IP services and the untapped potential that remains.  The company is headquartered in The Woodlands, TX, with offices in Tulsa and Denver, and data centers in Dallas and Chicago.

 

CONTACT:

The Management Network Group, Inc.

Debby Brannon

debby.brannon@tmng.com

800.876.5329

 

Adaption Technologies

Eric Strickland

estrickland@adpt-tech.com

918.877.1130

 

Brainerd Communicators, Inc.

Ray Yeung / Jo Anne Barrameda (Media)

yeung@braincomm.com / barrameda@braincomm.com

 

Corey Kinger (Investors)

kinger@braincomm.com

212.986.6667

TMNG Global Expands Offering to Help Companies Drive Cash Flow Improvements
By TMNG Press Releases @ 9:00 AM :: 631 Views

Proprietary Suite of Assessment Tools Offer Comprehensive Review of Existing Systems and Processes to Accelerate Cash Flow Improvements

Overland Park, KS – Wednesday March 26, 2009– TMNG Global (NASDAQ: TMNG), a leading provider of management consulting services to the communications, media and entertainment industries, today announced an expansion of its proprietary methodologies and toolsets to help companies increase revenues and drive cash flow improvements.    Specifically, the expanded offering comprises TMNG eLexiconTM, TMNG QBCTM (Quality Business Controls), TMNG QSATM (Quality Systems Audit) and Ascertain™.

“In this challenging economic environment, driving cash flow improvements is the top-of-mind issue,” said Rich Nespola, CEO of TMNG Global.  “Aside from cost-cutting, forward-thinking companies need a new approach and new tools to improve cash flow, drive revenues and conserve cash.  By taking a proactive approach in reviewing existing business and operating models, service providers can potentially recover millions of dollars annually by properly addressing gaps in their CAPEX and OPEX processes.”

To help companies drive cash flow improvements, TMNG Global has created a tailored offering based on its proven proprietary methodologies and toolsets that begins with issue identification through solution implementation. This proprietary methodology is a proven process that guarantees success and allows TMNG to assess systems and processes in an efficient, timely manner; while minimizing the impact on a company.

  • TMNG eLexiconTM is a web-based, comprehensive business requirements framework of over 5,000 requirements across 46 categories which enables a thorough assessment of system requirements and operational efficiencies.
  • TMNG QBCTM comprises a multi-dimensional revenue integrity discipline that identifies service activation and revenue process problems, their root causes and enables the design and implementation of solutions.
  • TMNG QSATM provides a comprehensive and rigorous evaluation of an organization’s information technology systems, as scored against industry best-practice benchmarks.
  • Ascertain™ is a flexible, configurable revenue management and data integrity toolset that provides timely evaluation of processes, metrics and control points; which when used following cash flow changes, monitors and maintains the gains.

“The current economic environment is forcing all service providers to evaluate and scrutinize all of their business processes and systems to improve bottom line performance,” said Robert Pons, SVP - Capital Markets, TMNG Global.  “These toolsets, combined with the in-depth operational expertise and successful track record of TMNG Global, has proven to be the winning formula to enable our clients to generate significant cash flow improvements.”

TMNG Global’s proven methodology focuses on taking a proactive approach to the following five imperatives for improving cash flow:

  • Assess existing order-to-cash process
  • Ensure accuracy in monitoring the network-to-bill process
  • Systems must properly support business and operational processes
  • Proactive management of controls, measurement and reports
  • Manage partner settlements across entire value chain

TMNG Global possesses the depth of strategic and operational expertise with communications, media and technology companies to address the most complex strategic challenges and operational efficiencies; ensuring an accelerated and optimized approach to improved cash flow.

More information on TMNG Global’s approach to cash flow improvement can be found at www.tmng.com

About TMNG Global

TMNG Global (NASDAQ: TMNG) is a leading provider of professional services to the converging communications industry. Its companies, TMNG, CSMG, Cartesian and TWG Consulting, and its base of over 600 consultants, have provided strategy, management, and technical consulting, as well as products and services, to more than 1200 communications service providers, entertainment, media, and technology companies and financial services firms worldwide. The company is headquartered in Overland Park, Kansas, with offices in Boston, Chicago, London, New Jersey, New York, Shanghai and Washington, D.C.

CONTACT:   

The Management Network Group, Inc.                                  

Debby Brannon

debby.brannon@tmng.com  

800.876.5329 

 

Brainerd Communicators

Ray Yeung / Jo Anne Barrameda (Media)                                        yeung@braincomm.com / barrameda@braincomm.com

Corey Kinger (Investors)

kinger@braincomm.com

212.986.6667

TMNG Global Launches Initiative to Support Application Process for Companies Seeking Grants from Federal Broadband Stimulus Programs
By TMNG Press Releases @ 7:00 AM :: 535 Views

Overland Park, KS – March 18, 2009 – CSMG, the strategy division of TMNG Global (NASDAQ: TMNG), a leading provider of management consulting services to the communications, media and entertainment industries, today announced a targeted initiative to support clients seeking funding from recently announced Federal broadband stimulus programs.

This offering builds upon TMNG Global’s deep expertise in helping companies assess rural broadband business cases through its proprietary financial models and research sources, and its success in supporting past policy arguments and grant applications for clients with the Federal Communications Commission (FCC) and the Rural Utilities Service (RUS).

The American Recovery and Reinvestment Act provides $7.2B in grants and loans for domestic broadband projects that extend or enhance broadband service availability.  Telecommunication service providers, utilities, infrastructure owners, local governments, non-profits, and community organizations are all eligible to receive funding.  CSMG is prepared to serve companies seeking to apply for these funds through strategic, public good and economic analysis, business case development, operational planning, and grant application development.

“This is an unprecedented opportunity to obtain grant money to address an important social and economic issue for a large variety of players,” said Richard Nespola, CEO of TMNG Global.  “Companies seeking grant monies will need to understand that this is a political process and their application will need to prove that they are not only a viable business but are committed to the long-term investment, economic development and social requirements of the bill.”

The guidelines set forth in the stimulus legislation offers funding to a broad range of potential projects.  Support may be extended to wireless and wireline technologies, access and core network investment, and multiple target user groups spanning residential, business, education, and public safety customers.  Suitability for funding will differ based on specific geographic, market, competitive, and economic conditions.  Detailed analysis and expert support through the grant application development process will therefore be critical to success. 

CSMG will support clients to develop detailed grant applications addressing each of these key questions.

Opportunity Assessment: Which geographies and communities are most underserved? What is the level of competition and market need? Which technologies should be employed? What are the optimal economic and operational models?

Business Case Development: What are the capital requirements? How much funding is required from the government? How much is private? What are the operating expenses and forecasted returns? Is the project one that is viable and sustainable after government support? Is it clear that the project needs public support to be commercially viable?

Public Good Summary: What benefits for the community will be achieved? How many jobs will be created? What are the economic multipliers of this activity?

CSMG is able to support application development on a turnkey basis in conjunction with its legal and network design partners or flexibly execute specific elements of each application as required by clients.

For more information, visit www.csmg-global.com.

About TMNG Global

TMNG Global (NASDAQ: TMNG) is a leading provider of professional services to the converging communications industry. Its companies, TMNG, CSMG, and Cartesian, and its base of over 600 consultants, have provided strategy, management, and technical consulting, as well as products and services, to more than 1200 communications service providers, entertainment, media, and technology companies and financial services firms worldwide. The company is headquartered in Overland Park, Kansas, with offices in Boston, Chicago, London, New Jersey, New York, Shanghai and Washington, D.C.

 

CONTACT:        

The Management Network Group, Inc.

Debby Brannon

debby.brannon@tmng.com      

800.876.5329        

Brainerd Communicators

Ray Yeung / Jo Anne Barrameda (Media)                                                             yeung@braincomm.com / barrameda@braincomm.com                                                                                  

Corey Kinger (Investors)

kinger@braincomm.com

212.986.6667

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