Category Archives: General

‫ثلثا الرؤساء التنفيذيين للبنوك في الشرق الأوسط يواجهون خطر فقدان وظائفهم؛ وفقًا للبحث الذي أجرته مؤسسة “Metin Mitchell”

دبي، الإمارات العربية المتحدة، 14 فبراير 2018/PRNewswire/ —

قد يواجه ثلثا الرؤساء التنفيذيين للبنوك (71%) في الشرق الأوسط مخاطر فقدان وظائفهم بسبب عدم إدارتهم لمخاطر الأمن السيبراني بفاعلية.

تظهر الأبحاث أن 29% فقط من البنوك التي تمتلك أصولاً تتجاوز 10 مليار دولار أمريكي في منطقة الشرق الأوسط لديها مديرً أمن معلومات (CISO) يتبع الرئيس التنفيذي مباشرة – وهذا مؤشر رئيس بين متخصصي الأمن السيبراني على أن المؤسسة تتعامل مع هذه التهديدات وتديرها بجدية. هناك أكثر من ثلث مديري أمن المعلومات (35%) ليس لديهم خط اتصال مباشر مع كبار المسؤولين التنفيذيين.

وقد أجرت البحث مؤسسة ميتين ميتشل آند كومباني “Metin Mitchell & Co” وشمل 49 بنكًا مؤهلاً في تسع دول. لم تحقق أي دولة أداءً بارزًا؛ وسجلت قطر أعلى أداء بنسبة (40%)، تليها المملكة العربية السعودية (38%).

وفي معرض تعليقه على هذا الحدث، صرح ميتين ميتشيل -مؤسس الشركة التي تتخذ من دبي مقراً لها وتتخصص في الأبحاث التنفيذية للخدمات المالية بالشرق الأوسط- قائلاً “حتى يكون لخبراء الأمن السيبراني تأثير على البنوك، فهم بحاجة إلى ما هو أبعد من المهارات الفنية – إذ أنهم بحاجة إلى التعبير عن أنفسهم بقوة وامتلاك مهارات العمل. ويجب أن يمتلكوا القدرة على التواصل الفعال مع الرؤساء التنفيذيين ومجلس الإدارة حول المخاطر التي تواجه عوائد الأعمال والمساهمين على حدٍ سواء. ويجب كذلك أن تتوفر لهم الميزانية المطلوبة والقدرة للتأثير على صناعة القرار من أجل الحد من تلك المخاطر. كم عدد مديري أمن المعلومات اليوم في الشرق الأوسط الذين يمتلكون القدرات للقيام بذلك؟ والأهم من ذلك، كم عدد من لديهم القدرة على فعل ذلك واتباع نهج متعدد الأنظمة للأمن السيبراني؟ إن قوة استعداد الرئيس التنفيذي وبراعة تعامل فريقه مع الهجمات السيبرانية سوف يحددان ما إذا كان الرئيس التنفيذي سيحتفظ بوظيفته عند تعرض أحد البنوك للهجوم”.

وفي هذا الإطار يشرح ريف ميويس -خبير الحوكمة لدى اتحاد تدقيق ومراقبة أنظمة المعلومات (إيساكا ISACA)، ومؤلف ومستشار أمن سيبراني لدى مؤسسة ميتين ميتشل آند كومباني- أهمية مديري أمن المعلومات الذين يتبعون الرئيس التنفيذي قائلاً إن “هناك نقص في مهارات الأمن السيبراني. ففي سوق يتنافس على الموارد، فإن أفضل الكفاءات تتوجه للمؤسسات الأكثر جاذبية للعمل بها. ومسؤولو الأمن ليسوا مثل الأشخاص العاديين. فهم ليسوا مهتمين بالقطاع الذي تعمل به أو حجم الحركة أو الأرباح. فهم يريدون معرفة إن كانت مؤسستك تمتلك أساسيات الأمن. هل من المحتمل أن تواصل مزاولة عملك في غضون سنوات قليلة؟ من بين أيسر الطرق لمعرفة ذلك هو أن تسأل، هل مدير أمن المعلومات يتبع مجلس الإدارة – وفي حالة الخدمات المالية فإن الشخص الذي يتبعونه سيكون الرئيس التنفيذي”.

وقد دشنت مؤسسة Metin Mitchell & Co خدمة أمن سيبراني متخصصة لتوظيف كبار الكفاءات في مجال الأمن السيبراني وتقديم الاستشارات حول أنسب طرق الهيكلة الإداريةلكفاءات الأمن السيبراني وإدارتها.

ملاحظات للمحررين 

1- بحث حول أهم المخاطر المصرفية لعام 2017/18

بحث شركة إرنست ويونغ لعام 2017 حول أهم خمس أولويات استراتيجية للبنوك من خلال استطلاعهم حول التوقعات المصرفية العالمية لكبار المسؤولين التنفيذيين فيما يُقارب 300 بنك حول العالم

  • إدارة مخاطر السمعة، بما في ذلك مخاطر السلوك والمخاطر الثقافية
  • الوفاء بالامتثال للوائح التنظيمية ومعايير الإبلاغ
  • تعزيز أمن البيانات والأمن السيبراني
  • تلبية متطلبات نسبة رأس المال والسيولة والروافع المالية
  • توظيف واستبقاء المواهب الأساسية

تقرير Banking Journal بشأن مخاطر البنوك الرئيسة في عام 2018 يوضح ما يلي

“الأمن السيبراني يواصل كونه بؤرة تركيز رئيسة على المخاطر بالنسبة للمؤسسات المالية بجميع أحجامها. يقول دينيس هيلد، مدير إداري في مجال استشارات المخاطر، ومتخصص في الخدمات المالية في  “كرو هوروث” المحدودة، إن جزءًا من المخاوف التي تمتد إلى عام 2018 تتعلق بدورة حياة التهديد بالمخاطر والمرحلة الحالية من السيبرانية في هذا التطور. وواصل قائلًا “لا يشكل ذلك نضجًا فيما يتعلق بالتوقعات التنظيمية وإدارة المخاطر الفعالة”.

2- أبحاث الأمن السيبراني

أجرت شركة ميتين ميتشيل آند كومباني بحثًا في شهر ديسمبر 2017 ويناير 2018 فيما يتعلق

  • بالمسميات الوظيفية لكبار مسؤولي الأمن السيبراني
  • الجهات التي يرفع هؤلاء المسؤولون التقارير إليها

شمل البحث البنوك التي تزيد أصولها عن 10 مليار دولار، وكانت هذه البنوك في البحرين ومصر والأردن والكويت ولبنان وعمان وقطر والإمارات العربية المتحدة والمملكة العربية السعودية.

3- ميتين ميتشيل آند كومباني (Metin Mitchell & Co)

ميتين ميتشيل آند كومباني هي شركة استشارية في مجال البحث التنفيذي والإدارة يقع مقرها في دبي وتعمل في منطقة الشرق الأوسط وشمال أفريقيا. وهي متخصصة في تعيين أعضاء مجلس الإدارة والرؤساء التنفيذيين وغيرهم من كبار أعضاء فرق إدارة الشركات.

وقد أصدرت تقريرين، وهما (ما هي الأمور التي تساهم في تميز الرئيس التنفيذي السعودي؟)What makes an Outstanding Saudi Chief Executive? و(طرق صعود المرأة السعودية إلى القمة)Roads to the Top for Saudi women.

المصدر: شركة ميتين ميتشيل آند كومباني DMCC.

The DigitalTown SmartWeb

Building a global consumer Internet that is Intuitive, Personalized and Secure

SEATTLE, Feb. 13, 2018 (GLOBE NEWSWIRE) —  DigitalTown, Inc. (OTC:DGTW), the leading provider of People-centric Solutions for Smart Cities, provided a condensed update on the status of the SmartWeb initiative and the start of Blockchain tokenization of the Company’s domain name portfolio.

In May 2017, DigitalTown launched an initiative called SmartWeb to make an Internet that is more intuitive, personalized and secure through the use of the new descriptive domain name extensions. Developed in cooperation with selected ICANN-accredited registries, each network of descriptive domain names is paired with an intuitive software platform that is connected through one single login that works across the entire network using a unified SmartWallet for managing shared services such as identity, preferences and payments. Each platform is designed to support Blockchain-based shared ownership and shared governance.

.CITY Network
The .CITY network is the flagship of DigitalTown. The company currently controls 13,742 development-grade .CITY domains that map to major population centers around the world. The DigitalTown City platform provides a web-based SmartSearch engine where residents and visitors search, connect, share and shop local. The web platform integrates with mobile applications for iOS and Android that can be branded in the identity of each city. Austin.city will be featured at the South by Southwest (SXSW) festival starting March 9 in Austin, Texas.

.LAW Network launches as Got.Law
One of the first vertical initiatives of DigitalTown was the legal vertical. This was made possible through the acquisition of the assets of JustLegal in November 2017. DigitalTown controls 3,441 .LAW domains mapping to major population centers with legal economies, e.g. Denver.Law and is currently rolling out legal service provider discovery portals in cooperation with independent attorneys and local Bar associations under the umbrella brand Got.Law. By using the Got.Law platform consumers can schedule appointments, complete live video consults, and pay lawyers.

.MENU Network launches as Smart.Menu
DigitalTown has partnered with the .MENU registry to create Smart.Menu, a turn-key platform that equips any provider of prepared foods with the ability to create an interactive and searchable Smart.Menu portal, including the ability to search down to the ingredient level. Patrons can also use the platform to book tables and place online orders with participating restaurants. Smart.Menu currently maintains searchable menus for 1.6 million restaurants.

.BIBLE Network launches as Your.Bible
Developed in cooperation with the American Bible Society (ABS), the oldest and largest Bible society in the United States, DigitalTown’s Your.Bible software platform empowers ministry organizations to produce easy to use websites for content and transactions.  The platform was released in January and is being marketed by ABS.

.FASHION Network
Currently in the concept stage, the planned development seeks to connect local consumers with peer-to-peer fashion marketplaces where they can rent and purchase used and new fashion directly from local providers. DigitalTown controls 5,464 .FASHION domains that map to major population centers. The platform is expected to launch under the umbrella brand name My.Fashion.

.FIT Network
Currently in concept stage, the planned development seeks to connect local consumers with fitness professionals in their community for online scheduling and purchase of personal training services and fitness centers. As of February 2018, DigitalTown owns 5,699 .FIT domains, mapping to major population centers. The platform is expected to launch under the umbrella brand name Get.Fit.

.SHOP Network
Currently in development, Smart.Shop enables merchants to activate their own branded merchant portal using the .SHOP domain extension. Consumers are able to search for products across multiple online storefronts and place orders using their SmartWallet on a single login. The platform is currently in development in cooperation with the .SHOP registry, with a pilot operating in London.

.WEDDING Network
The planned development seeks to connect local consumers with local wedding planners, while providing direct booking with local hotels, catering and related services.  As of February 2018, DigitalTown owns 5,830 .WEDDING domains mapping to major population centers around the world, e.g. Bali.Wedding, as well as premium domains such as Destination.Wedding, Christian.Wedding, Catholic.Wedding and Budget.Wedding. The platform is expected to launch under the umbrella brand name Your.Wedding.

.WORK Network
DigitalTown is currently exploring a development partnership with a developer of Smart employment portals that uses Artificial Intelligence (AI) and social media tools to match candidates to local job opportunities.  As of February 2018, DigitalTown owns 13,713 .WORK domains mapping largely to population centers around the world. The platform is expected to launch under the umbrella brand name Get.Work.

.BAYERN, .BOSTON, .LONDON, .MIAMI, .NRW Networks
DigitalTown is working with region-specific registry operators to bring DigitalTown to regional markets, while leveraging their local domain extensions. As part of these strategic initiatives, DigitalTown owns portfolios across,.BAYERN (2000 domains), .BOSTON (16,978 domains), .LONDON (27,465 domains), .MIAMI (5,494 domains), and  .NRW (1000 domains).  Geographic domains held are mainly the most common first names and last names for the region and intended for use as branded permanent digital addresses for residents of these cities, powered by DigitalTown.

Rob Monster, CEO of DigitalTown commenting on the SmartWeb progress explained, “The new domain extension economy will benefit greatly from a unified architecture that both streamlines adoption by merchants and publishers, but also empowers consumers to engage with these services on a frictionless basis. We believe that domain investors have greatly undervalued the potential of the new domain extensions to improve people’s lives, while also empowering businesses to more effectively compete.  As with the .CITY portals, for cases where a single domain investor does not acquire a domain, we foresee potential for local vertically-focused Marketing Cooperatives that are jointly owned through Blockchain, Denver.Law, Seattle.Fit, Chicago.Menu, Bali.Wedding, Miami.Work, etc.”

DigitalTown’s domain portfolios were acquired on exceptionally favorable terms due to combination of the (1) the size of the portfolio acquisitions, (2) DigitalTown’s operating plan, and (3) strategic relationships with the registry operators. In December 2017, Minds and Machines (LSE:MMX), who operates a number of the most promising domain extensions, made a strategic investment in DigitalTown in order to accelerate market development of these domain networks as industry standards, e.g. LAW for the Legal profession.

For more information about DigitalTown, or to learn about pre-sale and partnership opportunities for the SmartWeb, visit on the web at DigitalTown.com or contact the company at info@digitaltown.com.

About DigitalTown
DigitalTown, Inc. (OTC :DGTW) empowers Smart Cities to succeed in the Digital Age. The company provides turn-key hosted solutions to power “Digital Towns”, which improve Quality of Life for residents and visitors through locally owned solutions for economic development, civic engagement and digital inclusion for cities around the world. For more information about the company, please visit www.digitaltown.com.

Safe Harbor Language: Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act 1995. Readers are cautioned not to place undue reliance on forward-looking statements. DigitalTown, Inc. undertakes no obligation to update any such statements to reflect actual events.

Media Contacts:

Rob Monster, CEO
+1-425-295-4564; rob@digitaltown.com

Mimecast Announces Third Quarter 2018 Financial Results

  • Total revenue of $67.3 million grew 39% yoy on a GAAP basis and 36% in constant currency
  • Added 1,100 new customers. Total customers 29,200 globally
  • Revenue retention rate of 111%
  • Gross profit percentage of 74%
  • GAAP EPS of $(0.05) per diluted share, Non-GAAP EPS of $0.03 per diluted share

LEXINGTON, Mass., Feb. 12, 2018 (GLOBE NEWSWIRE) — Mimecast Limited (NASDAQ:MIME), a leading email and data security company, today announced financial results for the third quarter ended December 31, 2017.

“I’m very pleased with our high quality customer growth in the third quarter.  Mimecast’s platform of services is appealing to organizations of all sizes seeking to bolster their cyber resilience,” stated Peter Bauer, CEO of Mimecast.

Mimecast’s CFO Peter Campbell noted, “We executed well against our financial targets in the third quarter.  We delivered results that exceeded our revenue guidance and was at the high end of the guided range for adjusted EBITDA.”

Third Quarter 2018 Financial Highlights

  • Revenue: GAAP revenue for the third quarter of 2018 was $67.3 million, an increase of 39% compared to $48.3 million of GAAP revenue in the third quarter of 2017. Revenue on a constant currency basis increased 36% compared to the third quarter of 2017.
  • Customers: Added 1,100 net new customers in the third quarter of 2018. We now serve over 29,200 organizations globally.
  • Revenue Retention Rate: Revenue retention rate was 111% in the third quarter of 2018, consistent with the prior quarter.
  • Gross Profit Percentage: Gross profit percentage was 74% in the third quarter of 2018, up from 73% in the third quarter of 2017.
  • GAAP Net Loss: GAAP net loss was $2.6 million, or $(0.05) per diluted share, based on 57.5 million weighted-average shares outstanding.
  • Adjusted EBITDA: Adjusted EBITDA was $6.7 million, representing an Adjusted EBITDA margin of 10.0%, up from 7.6% in the third quarter of 2017.
  • Non-GAAP Net Income: Non-GAAP net income was $1.6 million, or $0.03 per share, based on 61.2 million diluted shares outstanding.
  • Free Cash Flow and Cash and Investments: Mimecast generated $4.5 million of free cash flow in the third quarter of 2018, up from $2.2 million in the third quarter of 2017. Cash and investments as of December 31, 2017 were $128.9 million.

Reconciliations of the non-GAAP financial measures provided in this press release to their most directly comparable GAAP financial measures are provided in the financial tables included at the end of this press release. An explanation of these measures and how they are calculated is also included below under the heading “Non-GAAP Financial Measures.”

Third Quarter 2018 Business Highlights                       

  • Sales of Targeted Threat Protection grew rapidly as 1,700 new and existing customers adopted the service in the third quarter.  In total, more than 15,100 customers now use the service.
  • A total of 29% of customers used Mimecast in conjunction with Microsoft® Office 365™ during the third quarter compared to 26% in the second quarter of 2018. Approximately 8,600 customers of all sizes have selected Mimecast to enhance their security, archive their data, and to provide uptime assurance for their Office 365 investments.
  • Stephen Ward joined Mimecast’s Board of Directors. Stephen brings more than 20 years of experience in physical security, personal protection, fraud, cybersecurity and technology risk acquired throughout his career in both the private sector and as a special agent with the U.S. Secret Service.  Currently he serves as the Chief Information Security Officer at TIAA.
  • Mimecast strengthened its leadership team with the additions of Janet Levesque as Senior Vice President of Systems, Risk and Security and Marc French as Chief Trust Officer and Data Protection Officer.
  • In January 2018, Mimecast opened a new North American Headquarters in Lexington, MA. The 79,000 square foot facility doubles the companies available space in the region.
  • Mimecast was named a top place to work in Massachusetts for 2017 by The Boston Globe.

Business Outlook
Mimecast is providing guidance for the fourth quarter and fiscal year 2018. Additionally, we are introducing a range for 2019 revenue growth.

Fourth Quarter 2018 Guidance:
For the fourth quarter of 2018, constant currency revenue growth is expected to be in the range of 28% to 29% and revenue is expected to be in the range of $71.1 million to $71.8 million. Our guidance is based on exchange rates as of January 31, 2018 and includes a positive impact of $3.9 million related to the weakening of the U.S. dollar compared to the prior year.

Adjusted EBITDA for the fourth quarter is expected to be in the range of $5.4 million to $6.4 million.

Full Year 2018 Guidance:
For the full year 2018, revenue is expected to be in the range of $259.6 million to $260.3 million or 36% growth in constant currency.  Foreign exchange rate fluctuations are positively impacting this guidance by an estimated $4.9 million related to the weakening of the U.S. dollar with respect to the British Pound and the South African Rand versus the prior year. Relative to the prior annual guidance we provided in November, foreign exchange rate fluctuations are positively impacting this guidance by an estimated $3.5 million.   Adjusted EBITDA is expected to be in the range of $23.9 million to $24.9 million.

GAAP net loss is the most comparable GAAP measure to Adjusted EBITDA. Adjusted EBITDA differs from GAAP net loss in that it excludes depreciation and amortization, share-based compensation expense, interest income and interest expense, the provision for income taxes and foreign exchange (expense) income. Mimecast is unable to predict with reasonable certainty the ultimate outcome of these exclusions without unreasonable effort. Therefore, Mimecast has not provided guidance for GAAP net loss or a reconciliation of forward-looking Adjusted EBITDA guidance to GAAP net loss.

Conference Call and Webcast Information
Mimecast will host a conference call to discuss these financial results for investors and analysts at 4:30 pm EDT (UTC-05:00) on February 12, 2018.  To access the conference call, dial (844) 815-2878 for the U.S. and Canada and (615) 800-6885 for international callers and enter conference ID# 1575108. The call will also be webcast live on the investor relations section of the Company’s website http://investors.mimecast.com.  An audio replay of the call will be available two hours after the live call ends by dialing (855) 859-2056 for U.S. and Canada or (404) 537-3406 for international callers, and entering conference ID# 1575108.  In addition, an archive of the webcast will be available on the investor relations section of the company’s website http://investors.mimecast.com.

About Mimecast Limited
Mimecast Limited (NASDAQ:MIME) makes business email and data safer for more than 29,200 customers and millions of employees worldwide. Founded in 2003, the Company’s next-generation cloud-based security, archiving and continuity services protect email, and deliver comprehensive email risk management in a single, fully-integrated subscription service. Mimecast reduces email risk and the complexity and cost of managing the array of point solutions traditionally used to protect email and its data. For customers that have migrated to cloud services like Microsoft® Office 365™, Mimecast mitigates single vendor exposure by strengthening security coverage, combating downtime and improving archiving.

Mimecast and the Mimecast logo are registered trademarks of Mimecast. All other third-party marks and logos contained in this press release are the property of their respective owners.

Safe Harbor for Forward-Looking Statements
Statements in this press release regarding management’s future expectations, beliefs, intentions, goals, strategies, plans or prospects, including, without limitation, the statements relating to Mimecast’s future financial performance on both a GAAP and non-GAAP basis under the heading “Business Outlook” above, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words “predicts,” “plan,” “expects,” “anticipates,” “believes,” “goal,” “target,” “estimate,” “potential,” “may,” “might,” “could,” “see,” “seek,” “forecast,” and similar words. Mimecast intends all such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors detailed in Mimecast’s filings with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, Mimecast’s actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. Mimecast is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures
We have provided in this release financial information that has not been prepared in accordance with GAAP. We use these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures provided in the financial statement tables included below in this press release.

Revenue Constant Currency Growth Rate. We believe revenue constant currency growth rate is a key indicator of our operating results. We calculate revenue constant currency growth rate by translating revenue from entities reporting in foreign currencies into U.S. dollars using the comparable foreign currency exchange rates from the prior fiscal period. To determine projected revenue growth rates on a constant currency basis for the fourth quarter and full year 2018, expected revenue from entities reporting in foreign currencies will be translated into U.S. dollars using the comparable prior year period’s monthly average foreign currency exchange rates.

Adjusted EBITDA and Adjusted EBITDA margin. We believe that Adjusted EBITDA and Adjusted EBITDA margin are key indicators of our operating results. We define Adjusted EBITDA as net loss, adjusted to exclude: depreciation and amortization, share-based compensation expense, interest income and interest expense, the provision for income taxes and foreign exchange (expense) income predominantly related to the elimination of intercompany balances. We define Adjusted EBITDA margin as Adjusted EBITDA over revenue in the period.

Non-GAAP net income. We define non-GAAP net income as net loss less share-based compensation expense and the related income tax effects of excluding share-based compensation expense. We consider this non-GAAP financial measure to be a useful metric for management and investors because it excludes the effect of share-based compensation expense and related income tax effects so that our management and investors can compare our recurring core business net results over multiple periods. There are a number of limitations related to the use of non-GAAP net income versus net loss calculated in accordance with GAAP. For example, as noted above, non-GAAP net income excludes share-based compensation expense and related income tax effects. In addition, the components of the costs that we exclude in our calculation of non-GAAP net income may differ from the components that our peer companies exclude when they report their non-GAAP results of operations. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP net income and evaluating non-GAAP net income together with net loss calculated in accordance with GAAP.

Free cash flow. We define free cash flow as net cash provided by operating activities minus capital expenditures. We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that, after the acquisition of property and equipment, can be used for strategic opportunities, including investing in our business, and strengthening the balance sheet. Analysis of free cash flow facilitates management’s comparisons of our operating results to competitors’ operating results. A limitation of using free cash flow versus the GAAP measure of net cash provided by operating activities as a means for evaluating our company is that free cash flow does not represent the total increase or decrease in the cash balance from operations for the period because it excludes cash used for capital expenditures during the period. Management compensates for this limitation by providing information about our capital expenditures on the face of the cash flow statement and in the liquidity and capital resources discussion included in our annual and quarterly reports filed with the Securities and Exchange Commission.

MIMECAST LIMITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(unaudited)

  Three months ended December 31,     Nine months ended December 31,  
    2017     2016       2017     2016  
Revenue $ 67,272 $ 48,333 $ 188,496 $ 134,154
Cost of revenue 17,728 13,144 49,523 36,860
Gross profit 49,544 35,189 138,973 97,294
Operating expenses
Research and development 10,005 5,889 26,188 15,986
Sales and marketing 31,190 25,336 88,904 69,665
General and administrative 9,478 6,994 26,629 20,047
Total operating expenses 50,673 38,219 141,721 105,698
Loss from operations (1,129 ) (3,030 ) (2,748 ) (8,404 )
Other income (expense)
Interest income 301 164 854 307
Interest expense (56 ) (61 ) (156 ) (244 )
Foreign exchange (expense) income (864 ) (81 ) (2,059 ) 6,734
Total other income (expense), net (619 ) 22 (1,361 ) 6,797
Loss before income taxes (1,748 ) (3,008 ) (4,109 ) (1,607 )
Provision for income taxes 845 362 1,723 1,216
Net loss $ (2,593 ) $ (3,370 ) $ (5,832 ) $ (2,823 )
Net loss per ordinary share
Basic and diluted $ (0.05 ) $ (0.06 ) $ (0.10 ) $ (0.05 )
Weighted-average number of ordinary shares outstanding:
Basic and diluted 57,505 54,949 56,944 54,625

MIMECAST LIMITED
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
 (unaudited)

As of December 31,       As of March 31,  
2017   2017  
Assets  
Current assets
Cash and cash equivalents $ 75,990 $ 51,319
Short-term investments 52,905 60,347
Accounts receivable, net 53,796 44,358
Prepaid expenses and other current assets 10,269 10,054
Total current assets 192,960 166,078
Property and equipment, net 86,894 32,009
Intangible assets, net 10,279 1,590
Goodwill 5,612 5,363
Other assets 1,564 312
Total assets $ 297,309 $ 205,352
Liabilities and shareholders’ equity
Current liabilities
Accounts payable $ 5,989 $ 3,558
Accrued expenses and other current liabilities 28,755 20,713
Deferred revenue 102,740 84,159
Current portion of capital lease obligations 1,180 233
Current portion of long-term debt 187 1,725
Total current liabilities 138,851 110,388
Deferred revenue, net of current portion 16,684 11,189
Long-term capital lease obligations 2,766 245
Construction financing lease obligation 36,776
Other non-current liabilities 5,797 1,538
Total liabilities 200,874 123,360
Commitments and contingencies
Shareholders’ equity
Ordinary shares, $0.012 par value, 300,000,000 shares authorized; 57,811,668
and 55,901,996 shares issued and outstanding as of December 31, 2017
and March 31, 2017, respectively
694 671
Additional paid-in capital 202,281 183,752
Accumulated deficit (99,953 ) (94,017 )
Accumulated other comprehensive loss (6,587 ) (8,414 )
Total shareholders’ equity 96,435 81,992
Total liabilities and shareholders’ equity $ 297,309 $ 205,352

MIMECAST LIMITED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)

Three months ended December 31,     Nine months ended December 31,  
2017   2016       2017   2016  
Operating activities                                
Net loss $ (2,593 ) $ (3,370 ) $ (5,832 ) $ (2,823 )
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization 4,719 3,042 12,578 8,703
Share-based compensation expense 3,142 3,641 8,698 7,949
Provision for doubtful accounts 30 33 142 83
Loss (gain) on disposal of fixed assets 1 2 1 (3 )
Other non-cash items 27 30 191 66
Unrealized currency loss (gain) on foreign denominated transactions 629 14 1,427 (6,293 )
Changes in assets and liabilities:
Accounts receivable (7,162 ) (6,820 ) (7,593 ) (6,038 )
Prepaid expenses and other current assets 1,147 (828 ) (627 ) 509
Other assets 9 1 42 (38 )
Accounts payable (733 ) 22 760 2,451
Deferred revenue 12,272 9,453 19,717 15,204
Accrued expenses and other liabilities 1,165 609 2,121 2,847
Net cash provided by operating activities 12,653 5,829 31,625 22,617
Investing activities  
Purchases of investments   (23,468 ) (57,514 ) (47,989 ) (57,514 )
Maturities of investments   16,308 54,808
Purchases of property, equipment and capitalized software   (8,186 ) (3,628 ) (21,589 ) (13,357 )
Payments for acquisitions (1,381 ) (5,574 ) (1,381 ) (5,574 )
Net cash used in investing activities (16,727 ) (66,716 ) (16,151 ) (76,445 )
Financing activities  
Proceeds from issuance of ordinary shares 3,084 402 9,520 1,963
Payments on debt (553 ) (1,139 ) (1,631 ) (3,629 )
Payments on capital lease obligations (227 ) (416 )
Net cash provided by (used in) financing activities 2,304 (737 ) 7,473 (1,666 )
Effect of foreign exchange rates on cash 832 (1,015 ) 1,724 (2,784 )
Net (decrease) increase in cash and cash equivalents (938 ) (62,639 ) 24,671 (58,278 )
   
Cash and cash equivalents at beginning of period 76,928 110,501 51,319 106,140
Cash and cash equivalents at end of period $ 75,990 $ 47,862 $ 75,990 $ 47,862

Key Performance Indicators
In addition to traditional financial metrics, such as revenue and revenue growth trends, we monitor several other non-GAAP financial measures and non-financial metrics to help us evaluate growth trends, establish budgets, measure the effectiveness of our sales and marketing efforts and assess operational efficiencies. The key performance indicators that we monitor are as follows:

Three months ended December 31,   Nine months ended December 31,  
2017   2016   2017   2016  
(dollars in thousands)   (dollars in thousands)  
Revenue constant currency growth rate (1) 36 % 39 % 40 % 36 %
Revenue retention rate (2) 111 % 112 % 111 % 112 %
Total customers (3) 29,200 24,900 29,200 24,900
Gross profit percentage 74 % 73 % 74 % 73 %
Adjusted EBITDA (1) $ 6,732 $ 3,653 $ 18,528 $ 8,248

 

(1) Adjusted EBITDA and revenue constant currency growth rates are non-GAAP measures. For a reconciliation of Adjusted EBITDA and revenue constant currency growth rates to the nearest comparable GAAP measures, see “Reconciliation of Non-GAAP Financial Measures” below.
(2) We calculate our revenue retention rate by annualizing constant currency revenue recorded on the last day of the measurement period for only those customers in place throughout the entire measurement period. We include add-on, or upsell, revenue from additional employees and services purchased by existing customers. We divide the result by revenue on a constant currency basis on the first day of the measurement period for all customers in place at the beginning of the measurement period. The measurement period is the trailing twelve months. The revenue on a constant currency basis is based on the average exchange rates in effect during the respective period.
(3) Reflects the customer count on the last day of the period rounded to the nearest hundred customers. We define a customer as an entity with an active subscription contract as of the measurement date. A customer is typically a parent company or, in a few cases, a significant subsidiary that works with us directly.

Reconciliation of Non-GAAP Financial Measures

The following table presents a reconciliation of revenue growth rate, as reported to revenue constant currency growth rate:

Three months ended December 31, Nine months ended December 31,
2017   2016 2017   2016  
(dollars in thousands)
Reconciliation of Revenue Constant Currency Growth Rate:               
Revenue, as reported $ 67,272 $ 48,333 $ 188,496 $ 134,154
Revenue year-over-year growth rate, as reported 39 % 30 % 41 % 28 %
Estimated impact of foreign currency fluctuations (3 )% 9 % (1 )% 8 %
Revenue constant currency growth rate 36 % 39 % 40 % 36 %

The following table presents a reconciliation of Net loss to Adjusted EBITDA:

Three months ended December 31,   Nine months ended December 31,  
2017     2016   2017     2016  
(in thousands)  
Reconciliation of Adjusted EBITDA:    
Net loss $ (2,593 ) $ (3,370 ) $ (5,832 ) $ (2,823 )
Depreciation and amortization 4,719 3,042 12,578 8,703
Interest (income) expense, net (245 ) (103 ) (698 ) (63 )
Provision for income taxes 845 362 1,723 1,216
Share-based compensation expense 3,142 3,641 8,698 7,949
Foreign exchange expense (income) 864 81 2,059 (6,734 )
Adjusted EBITDA $ 6,732 $ 3,653 $ 18,528 $ 8,248

The following table presents a reconciliation of Net loss to Non-GAAP net income (in thousands, except per share amounts):

Three months ended December 31,   Nine months ended December 31,  
2017     2016   2017     2016  
Reconciliation of Non-GAAP Net Income:    
Net loss $ (2,593 ) $ (3,370 ) $ (5,832 ) $ (2,823 )
Share-based compensation expense 3,142 3,641 8,698 7,949
Provision for income taxes (1) 1,076 (206 ) (731 ) (411 )
Non-GAAP net income (1) $ 1,625 $ 65 $ 2,135 $ 4,715
Non-GAAP net income per ordinary share – basic $ 0.03 $ 0.00 $ 0.04 $ 0.09
Non-GAAP net income per ordinary share – diluted $ 0.03 $ 0.00 $ 0.04 $ 0.08
Weighted-average number of ordinary shares used in
computing Non-GAAP net income per ordinary share:
Basic 57,505 54,949 56,944 54,625
Diluted 61,222 59,755 60,918 58,545

 

(1) Non-GAAP net income excludes the impact of excess tax benefits resulting from share option exercises which were recorded on a GAAP basis.  Without the availability of excess tax benefits on a non-GAAP basis, our non-GAAP US tax provision utilizes net operating loss carryforwards to offset current year taxable income. We have not yet completed a full assessment of potential limitations under Section 382 of the Internal Revenue Code of 1986, as amended, and the finalization of a study may result in an adjustment to or limitation on the amount of net operating loss carryforwards we use.

The following table presents a reconciliation of Net cash provided by operating activities to Free Cash Flow (in thousands):

Three months ended December 31,   Nine months ended December 31,  
2017     2016   2017     2016  
Reconciliation of Free Cash Flow:                                    
Net cash provided by operating activities $ 12,653 $ 5,829 $ 31,625 $ 22,617
Purchases of property, equipment and capitalized software (8,186 ) (3,628 ) (21,589 ) (13,357 )
Free Cash Flow $ 4,467 $ 2,201 $ 10,036 $ 9,260

Share-based compensation expense for the three and nine months ended December 31, 2017 and 2016 (in thousands):

Three months ended December 31,   Nine months ended December 31,  
2017   2016   2017   2016  
Cost of revenue $ 344 $ 730 $ 786 $ 1,201
Research and development 663 735 1,946 1,468
Sales and marketing 1,195 1,531 3,265 3,637
General and administrative 940 645 2,701 1,643
Total share-based compensation expense $ 3,142 $ 3,641 $ 8,698 $ 7,949

Revenue Constant Currency Growth Rate reconciliation (dollars in millions):

Three months ended December 31, Nine months ended December 31,  
2017     2016     % Change 2017     2016   % Change
Total revenue as reported $ 67.3 $ 48.3 39 % $ 188.5 $ 134.2 41 %
Estimated impact of foreign currency fluctuations (3 )% (1 )%
Total revenue constant currency growth rate 36 % 40 %
Exchange rate for period      
USD 1.000 1.000 1.000 1.000
GBP 1.328 1.244 1.305 1.331
ZAR 0.073 0.072 0.075 0.070
AUD 0.769 0.749 0.770 0.751

Mimecast Social Media Resources

Press Contact
Alison Raymond Walsh
Press@Mimecast.com
617-393-7126

Investor Contact
Robert Sanders
Investors@Mimecast.com
617-393-7074

فلائی ناس كى بین الاقوامی وسعت پاکستان تک

ریاض – 11 فروری

فلائى ناس نے 15 فروری 2018 سے سعودی عرب اور پاکستان کے درمیان نئی پروازوں کو شروع كرنےکا اعلان کیا ہے۔   سعودى عرب اور پاکستان کے درمیان علاقائی رابطوں کو بهتر بنانے كے سلسلے میں  فلائی ناس نے نئی منزلوں تک  پروازوں کے آغاز کر نے كا فيصله كيا ہے۔

(Logo: http://photos.prnewswire.com/prnh/20161004/414891LOGO )

ان پروازوں کے لئے جدید اور یکتا سہولیات سے مزین ایربس 320 اور بوینگ 767    طیارےاستعمال کئے جائیں گے۔ بکنگ کے لئے بکنگ ایجنٹ کے علاوہ سمارٹ فون اور فلائی ناس کی ویب سائٹ کی سہولت بھی دستیاب ہو گی –

فلائی ناس مندرجہ بالا پروازوں کے علاوہ  زائیرین حج و عمرہ کے لئے  بھی خصوصی کشش رکھتا ہے – فلائى ناس  کام یا حج اور عمرہ کے لئے سعودی عرب کے مسافروں کی خدمت کرتی ہے، اور یہ مسافروں کے لئے مزید سہولیات فراہم کرے گی تا کہ بہت آسانی سے سعودی عرب کے مختلف علاقوں تک پہنچ سكيں- مزید براں اندرون ملک (سعودى عرب) کے مختلف 17 شہروں تک فوری  رسائی کے لئے فلائی ناس کی مزيد پروازیں بهى دستیاب ہوں گی ۔

اپنے بین الاقوامی توسیعی منصوبے  کے سلسلہ میں فلائی ناس کے چیف ایگزیکیٹو آفیسر بندر المهنا ا پنے خیالات کا اظہار کرتے ہوئے فرماتے ہیں “ہم اپنے معزز مسافروں کی ضروریات   کے مطابق اپنے دائرہ کار کو بڑھاتے رہیں گے،حالیاً ہم ایشیا اور افریقہ میں نئی منزلوں کو پانے کے عمل سے گذر رہے ہیں-  2017 میں ہم  کانو ،  نائیجیریا تک رسائی حاصل کر چُکے ہیں  اور 2018 میں پاکستان ، انڈیا اور الجیریا کے مختلف شہروں تک پہنچیں  گے”

ہمارا عہد ہے که سال  2018 همارى بین الاقوامى وسعتوں اور  نئی منزلوں  کے حصول کا سال ثابت ہو گا،  ہم یہ بھی وعدہ کرتے ہیں کے فلائی ناس نے گذشتہ 10 سال میں جو معیارقائم کيا ہے اسے برقرار رکھا جائے گا۔

فلائی ناس مندرجہ ذیل پروازوں کا آغاز کر رہا ہے :

15 فروری 2018 سے  ریاض – لاہور اور  ریاض – اسلام آباد

15 فروری 2018 سے  دمام – لاہور

17 فروری 2018 سے  جدہ –لاہور

فلائى ناس کے بارے میں:

فلائى ناس ایک سعودی قومی ایئر لائن ہے، جس میں 30 ائربس A320 طیارے کے بیڑے كو دو كلاسوں کے ساتھ ڈیزائن کیا گیا ہے: بزنس کلاس اور اكانومى کلاس-  اور ہفتے ميں 1000 سے زيادہ پروازيں مملكت  کے اندر مختلف  17 شهروں اور 17 بين الاقوامی منزلوں تک  جاتى هيں ۔ 2007 ء میں فلائى ناس کے آغاز سے، فلائى ناس نے 32 کروڑ سے زائد مسافروں كى ریاض، جدہ، دمام اور ابہا کے اہم ہوائی اڈوں سے کامیابی سے خدمت کی ہے۔
فلائى ناس بہترین قیمتوں پر بہترین خدمات فراہم کرنے کى خواہاں ہے اور اس كى  سپر کسٹمر سروس کے نتیجے میں فلائى ناس نے مسلسل تين سالوں 2015، 2016 اور 2017 کے لئے مشرق وسطی میں بہترین کم قیمت ایئر لائن کا  ورلڈ ٹریول ایوارڈز كا اعزاز حاصل کیا ہے اور  2017  سکائى ٹریکس “Skytrax” کا ایوارڈ بھی حاصل کيا۔

مزید معلومات کے لئے،  فلائى ناس ویب سائٹ پر جائیں:

 www.flynas.com

flynas Expands Its International Reach to Pakistan

RIYADH, Saudi Arabia, February 12, 2018/PRNewswire/ –In its ongoing plans to expand its reach in Asia and open new strategic and international routes, flynas, announces its new flights between the kingdom and Pakistan starting February 15th  2018.

(Logo: http://photos.prnewswire.com/prnh/20161004/414891LOGO )

flynas will launch flights from Dammam, Riyadh and Jeddah to both Lahore and Islamabad and will commence on the 15th of February with flights from Riyadh to Lahore. Riyadh to Islamabad flights will follow on the 16th of February, along with flights from Dammam to Lahore. While flights from Jeddah to Lahore will launch on the 17th of February.

flynas flights between the Kingdom and Pakistan will utilize A320 fleet, and new B767 aircraft. Booking can be made through flynas’ smartphone application, travel agents, and the flynas website.

These new flynas routes will serve business travelers from and to Saudi Arabia, as well as Hajj and Umrah visitors. It will also connect passengers to many different cities within the Kingdom with flynas’ network, which includes 17 domestic destinations.

Commenting on the ongoing expansion, flynas CEO Bander Al-Mohanna said: “Ever since flynas was established over10 years ago, we have been continuously finding new opportunities and reaching new destinations, in order to deliver the best services and connectivity to our dear guests.

“We continue our journey with consumers, promising 2018 to be the year of expansion, to cater to their needs and aspirations to reach further domestic and international destinations.”

About Flynas 

flynas is a Saudi-national airlines, with a fleet of 31 airbus A320 that consists of two classes: business and economy, and operates more than 1000 weekly flights. flynas offers flights to 17 domestic destinations and 53 international destinations. Since its establishment in 2007, flynas has offered its services to more than 32 million passengers, whom have been successfully transported from hub-airports in Riyadh, Jeddah, Dammam and Abha. flynas is committed to its stellar on time performance and customer services, which led to it winning the best low-cost airline in the region at the World Travel Awards for three consecutive years (2015, 2016, 2017), as well as winning Skytrax for 2017.

For more information, please visit the website http://www.flynas.com

Source: flynas

ایپکس شپنگ نے سی آر آئی گروپ کی اینٹی-برائبری مینجمنٹ سرٹیفکیشن کے لیے عمل کاآغاز کردیا

اخلاقی اقدار پرکھڑا دبئی میں قائم لاجسٹکس ادارہ آئی ایس او 37001:2016 اے بی ایم ایس معیار پر درج ہوتا ہوا

لندن، 9 فروری 2018ء/پی آرنیوزوائر/– کارپوریٹ ریسرچ اینڈانوسٹی گیشنز پرائیوٹ لمیٹڈ (سی آر آئی گروپ) نےآج اعلان کیا ہے کہ دبئی، متحدہ عرب امارات میں قائم ایپکس شپنگ سروسز ایل ایل سی نے آئی ایس او 37001 اینٹی -برائبری مینجمنٹ سسٹم اسٹینڈرڈ سرٹیفکیشن حاصل کرنے کے لیے سی آر آئی سرٹیفکیشن سروسز سے معاہدہ کرلیا ہے۔https://prnewswire2-a.akamaihd.net/p/1893751/sp/189375100/thumbnail/entry_id/0_2as0f0d4/def_height/400/def_width/400/version/100012/type/1

https://mma.prnewswire.com/media/431851/Corporate_Research_and_Investigations_Logo.jpg

اپنے اسٹیک ہولڈرز کے لیے پیغام میں ایپکس شپنگ نے کہا ہےکہ سرٹیفکیشن ادارے کو “اپنے انسداد-رشوت ستانی اور انسداد-بدعنوانی پروگرام کے نفاذ” میں سہولت دے گی اور “میری ٹائم اینٹی-کرپشن نیٹ ورک (ایم اے سی این) میں ایپکس شپنگ سروسز ایل ایل سی کی متحرک انداز میں شرکت کے لیے اہلیت کے معیار کو بھی بہتر بنائے گی۔”

لندن میں قائم سی آر آئی گروپ دیانت میں مطلوبہ احتیاط، ملازمت میں پس منظر کی جانچ، تھرڈ پارٹی خطرے کے انتظام اور تکمیل اور دیگر پیشہ ورانہ تفتیشی تحقیقی خدمات پیش کرنے والا عالمی ادارہ ہے۔ 2016ء میں ادارے نے 3پی آر ایم-سرٹیفائیڈ اور 3پی آر ایم-کوالیفائیڈ سمیت پروگراموں میں سی آر آئی سرٹیفکیشن اور ماہرین کی تربیت فراہم کرنے کے لیے اپنا اینٹی-برائبری اینڈ اینٹی کرپشن سینٹر فار ایکسی لینس (ABAC®CoE) جاری کیا۔

ظفر انجم، گروپ چیف ایگزیکٹو آفیسر سی آر آئی گروپ نے کہا کہ “ہماری نظریں ایپکس شپنگ کے ساتھ کام کرنے پر مرکوز ہیں اور ہم آئی ایس او 37001:2016 کے ذریعے انہیں اپنےاہداف حاصل کرنے میں مدد دینے سے وابستہ ہیں، ایسے معیارات جو دنیا بھر میں  160 سے زیادہ ممالک میں تسلیم اور استعمال کیے جاتے ہیں۔

آئی ایس او 37001:2016 سرٹیفکیشن

حال ہی میں قائم کردہ آئی ایس او 37001 معیار انسداد رشوت ستانی کے انتظام کا نظام لاگو کرنے میں مدد دینے کے لیے تیار کیا گیا ہے جو عالمی اداروں کو مختلف اقدامات کے سلسلے کی صراحت فراہم کرتا ہے جو کسی ادارے کو رشوت ستانی سے تحفظ، سراغ اور نمٹنے کے لیے درکار ہوتے ہیں ۔

سی آرآئی سرٹیفکیشن کے آڈیٹرز اور تجزیہ کاروں نے ایسے اقدامات تیار کیے جو موجودہ انتظامی عمل اور ضابطوں میں شامل ہوتے ہیں، بشمول ایک انسداد-رشوت ستانی پالیسی، جن میں تکمیل احکامات کی تربیت، تمام عملے کو پالیسی اور پروگرام کی اطلاع ، خطرے کا جائزہ فراہم کرنے، مطلوبہ احتیاط کا اہتمام، داخلی ضابطوں کا نفاذ اور اطلاع دینے اور تفتیش کرنے کے عمل کی تیاری فراہم کرنا شامل ہے۔

ایک بیان میں ایپکس شپنگ کے مالکان نے کہا کہ “سی آر آئی گروپ کارپوریٹ سچائی کے شعبے میں صف اول کا ادارہ ہے اوران کی سرٹیفکیشن ایپکس شپنگ کو کاروباری اخلاقیات کی راہ میں مہر تصدیق فراہم کرتی ہے۔”

سی آر آئی گروپ کے بارے میں

گزشتہ 28 سالوں میں سی آر آئی گروپ ادارہ جاتی تفتیش اور خطرات سے نمٹنے میں ایک عالمی رہنما کی حیثیت سے ابھراہے، جو چھ براعظموں میں نامور صارفین کے لیے خدمات فراہم کر رہا  ہے۔ سی آر آئی گروپ قانونی تکمیل، مالیاتی نتیجہ خیزی اور بیرونی شراکت داروں، رسد کنندگان اور کسی انجمن سے منسلک ہونے کے خواہشمند صارفین کے لیے تکمیل کی سطحیں قائم کرکے کاروباروں کو تحفظ دیتا ہے۔

رابطہ سی آر آئی گروپ:
انیل سوناگر
مارکیٹنگ مینیجر
کارپوریٹ ریسرچ اینڈ انوسٹی گیشنز پرائیوٹ لمیٹڈ
917-918، لبرٹی ہاؤس، ڈی آئی ایف سی، دبئی، متحدہ عرب امارات
ٹیلی فون: 3589884 4 971+| ٹیلی فون: 521042433 971+
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