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OKChain Testnet Now Live – with its First DeFi Application OKEx DEX

VALLETTA, Malta, Feb. 11, 2020 (GLOBE NEWSWIRE) — OKEx (www.okex.com), the world largest cryptocurrency spot and derivatives exchange, announced the launch of OKChain, an OKEx-owned commercial public blockchain, in order to contribute to the community with more decentralized applications. At the same time, OKEx also rolled out OKEx DEX, the first decentralized application based on OKChain. To ensure a better trading experience and liquidity, OKEx DEX supports real-time settlement in a trustless environment.

OKChain is a Cosmos SDK-based public chain developed by OKEx. It supports various decentralized applications and allows users to issue their own cryptocurrencies, create trading pairs, and trade freely on it. Thanks to its multi-chain structure, the efficiency and scaling of application development are significantly improved. OKChain separates data into three layers: block, operations and off-chain data, which can improve the system consensus speed and expand data dimensions on chain.

Adopting a Delegated Proof of Stake (DPOS) consensus mechanism, OKEx has issued OKT as native token of OKChain. The issuance of OKT will be on the genesis block and node block, and is expected to increase by 1-5% every year.

“We believe decentralized finance is the key to financial inclusion and financial freedom for all. That’s why we have longed for unleashing the power of DeFi. OKChain is huge milestone for us, meaning that we are now able to provide an open, low-cost, and autonomous ecosystem for everyone to enjoy the benefits blockchain and decentralization brings,” said Jay Hao, CEO of OKEx. “Blockchain development keeps bringing me new experiences and surprises. Today, when we talk about blockchain, it is way beyond just bitcoin and the major ERC-20 tokens. As a leading player in the industry, we hope OKChain will become an inspiration for more innovations and will attract more talents to join the blockchain revolution with us.”

OKEx DEX – The first decentralized application on OKChain
Besides OKChain, OKEx DEX, the decentralized exchange arm of OKEx, is also an innovation not to be missed.

For further details please refer here.

About OKEx
OKEx is a world-leading digital asset exchange headquartered in Malta, offering comprehensive digital asset trading services including fiat-to-token trading, spot trading, futures trading, and perpetual swap trading to traders globally with blockchain technology. Currently, the exchange offers over 400 token and futures trading pairs enabling users to optimize their strategies.

Philips announces DEFINE GPS global multicenter study to assess outcomes of PCI procedures guided by integrated iFR and interventional X-ray images

February 11, 2020 

  • Randomized controlled trial with up to 3,000 participants at 75 sites to compare outcomes between physiological guidance by iFR data co-registered on the angiogram (interventional X-ray image) versus the standard of care use of an angiogram alone
  • Percutaneous coronary intervention (PCI) is one of the main treatment options to open narrowed coronary arteries of the heart in patients with coronary artery disease

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced a new randomized controlled trial to assess patient outcomes after receiving a percutaneous coronary intervention (PCI) guided by Philips’ unique co-registration platform, which combines data of an instant wave-Free Ratio (iFR) measurement and the angiogram (interventional X-ray image), compared with today’s standard of care treatment guided by an angiogram alone. PCI is one of the main treatment options to open narrowed coronary arteries of the heart in patients with coronary artery disease.

European and US guidelines already endorse the use of coronary physiologic measurements with iFR and Fractional Flow Reserve (FFR) for diagnostic purposes to determine the significance of a narrowed coronary artery. The DEFINE GPS (Distal Evaluation of Functional performance with Intravascular sensors to assess the Narrowing Effect: Guided Physiologic Stenting) study will be the first time that the use of iFR in conjunction with the Philips Image-Guided Co-registration System (SyncVision) is evaluated for PCI guidance and the optimization of treatment outcomes.

PCI is an image-guided, minimally invasive treatment to open a coronary artery blockage (stenosis) that is causing a reduced blood flow (ischemia) to heart tissue. Under the current standard of care, clinicians navigate a balloon catheter and coronary stent to the treatment area using interventional X-ray guidance (coronary angiography). In the study, an iFR pullback measurement, which uses pressure wires to map the pressure profile of the disease distribution along the length of the affected vessel, will be overlaid on the X-ray image to guide treatment. iFR is a next-generation physiologic measurement that uses the same pressure guide wires and equipment as FFR but avoids the administration of hyperemic agents to patients.

“PCI has made a major positive impact on many coronary artery disease patients’ lives,” said Allen Jeremias, MD of St. Francis Hospital, Roslyn, NY, and Cardiovascular Research Foundation, New York, NY, U.S. and principal investigator of the DEFINE GPS study. “However, when we look back at all the major, high-quality stent trials over the past 20 years we see that around 20-30% of patients continue to have recurring chest pain at one year after receiving treatment. With the DEFINE PCI study we observed that the current approach to PCI has limitations for identifying the locations of physiologically significant arterial lesions. With DEFINE GPS we will be able to determine if a physiology-based PCI approach results in superior patient outcomes when compared with standard angioplasty.”

“As coronary stenting is applied to increasingly complex patients, it is essential that we ensure that all segments of coronary artery disease that need treatment are treated, a process that we believe can be facilitated by iFR assessment of the entire coronary artery, co-registered to the angiogram.” said Dr. Gregg W. Stone, chairman of the DEFINE GPS trial, Director of Academic Affairs for the for the Mount Sinai Heart Health System, Professor of Medicine (Cardiology) and Professor of Population Health Sciences and Policy at the Zena and Michael A. Wiener Cardiovascular Institute, Icahn School of Medicine at Mount Sinai, New York, NY. “We are thrilled to be able to examine the extent to which this technique improves patient outcomes in the large-scale DEFINE GPS trial.”

The global multicentre, prospective, randomized controlled DEFINE GPS study will investigate the impact of iFR Co-registration on both outcomes and cost effectiveness. The primary endpoint is target vessel failure (a composite of cardiac death, target vessel Myocardial Infarction and ischemia-driven target vessel revascularization) or rehospitalization for progressive or unstable ischemia at two years.

“iFR continues to be adopted into clinical practice, with mounting evidence that this innovative technology contributes to improving outcomes, reducing costs [1, 2, 3] and enhancing the patient experience,” said Chris Landon, Senior Vice President and General Manager Image Guided Therapy Devices, Philips. “This major study will provide a definitive answer to the question of the overall improvement resulting from the use of a functional guidance strategy on patient outcomes and cost.”

The Philips Image-Guided Co-registration System (SyncVision) is part of Philips’ unique portfolio of systems, smart devices, software and services in image-guided therapy, which combine to provide healthcare providers with sophisticated, procedure-oriented solutions.

The DEFINE GPS study is sponsored by Philips with the Cardiovascular Research Foundation overseeing core lab and clinical event committee activities. The first patients will be recruited in the second half of 2020.

[1] Davies JE, et al. Use of the Instantaneous Wave-free Ratio or Fractional Flow Reserve in PCI. N Engl J Med. 2017 May 11;376(19):1824-1834.
[2] Gotberg M, et al. iFR Swedeheart Investigators. Instantaneous Wave-free Ratio versus Fractional Flow Reserve to Guide PCI. N Engl J Med. 2017 May 11;376(19):1813-1823.
[3] Tonino, et al. Fractional Flow Reserve Versus Angiography for Guiding Percutaneous Coronary Intervention. N Engl J Med. 2009;360(3):213-224.

For further information, please contact:

Mark Groves
Philips Global Press Office
Tel: +31 631 639 916
Email: mark.groves@philips.com
Twitter: mark_groves

Fabienne van der Feer
Philips Image Guided Therapy
Tel: +31 622 698 001
Email: fabienne.van.der.feer@philips.com
Twitter: FC_Feer

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2019 sales of EUR 19.5 billion and employs approximately 80,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.


Teledyne CARIS’ HIPS and SIPS 11.3 release introduces revolutionary AI approach to cleaning sonar noise

Teledyne CARIS’ HIPS & SIPS 11.3 release

HIPS & SIPS 11.3 uses an AI solution to classify and clean sonar noise

FREDERICTON, New Brunswick, Feb. 11, 2020 (GLOBE NEWSWIRE) — Teledyne CARIS, a Teledyne Technologies [NYSE:TDY] company, is pleased to announce the release of HIPS and SIPSTM 11.3. This new software upgrade will introduce the first-ever COTS (commercial-off-the-shelf) release of an AI solution for classifying and cleaning sonar noise.

Teledyne CARIS seeks to reduce significantly the need for manual cleaning and to move data swiftly from acquisition to review. The Sonar Noise Classifier automatically identifies the vast majority of sonar noise, resulting in a reduction of manual cleaning effort by a factor of up to 10x at an accuracy of 95%. This allows the hydrographer to focus more time on other important aspects of the survey and processing workflow.

This new approach to clean sonar noise is powered by the CARIS Mira AI engine, a new cloud-based platform to host current and future AI solutions. CARIS Mira AI also provides a flexible package capable of scaling with data processing needs. All data directed to the CARIS Mira AI platform is anonymized, randomized and encrypted before transmission. For additional security, no data remains stored on the cloud following the AI classification process.

“By leveraging deep learning techniques, Teledyne CARIS is poised to bring fundamental change to how sonar data is processed. The use of AI opens exciting opportunities for the future of hydrographic survey, from automated processing pipelines for crowd sourced bathymetry, to feature detection for charting,” said Karen Cove, Senior Product Manager.

For more information on the Sonar Noise Classifier catch Product Manager for New Initiatives, Burns Foster presenting “AI in Three Dimensions” at CHC 2020, Quebec City, March 24-26.

Teledyne CARIS is part of the Teledyne Imaging group. For 40 years, Teledyne CARIS has been the leading developer of marine mapping software. We offer a highly effective solution for near real-time processing, robust quality control of sonar data, and the creation and distribution of maps, charts, and digital datasets.

Teledyne Imaging is a group of leading-edge companies aligned under the Teledyne umbrella. Teledyne Imaging forms an unrivalled collective of expertise across the spectrum with decades of experience. Individually, each company offers best-in-class solutions. Together, they combine and leverage each other’s strengths to provide the deepest, widest imaging and related technology portfolio in the world. From aerospace through industrial inspection, radiography and radiotherapy, geospatial surveying, and advanced MEMS and semiconductor solutions, Teledyne Imaging offers world-wide customer support and the technical expertise to handle the toughest tasks. Their tools, technologies, and vision solutions are built to deliver to their customers a unique and competitive advantage.

For more information, contact:

Jennifer Parham, Marketing Manager, Geospatial
Teledyne Optech
+1 905 660 0808

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/df292cde-ef25-44fc-a0ab-06922b6bc989

Ingredion Incorporated Reports Fourth Quarter and Full-Year 2019 Results

  • Fourth quarter 2019 reported and adjusted EPS* were both $1.61, compared with $1.36 and $1.61 in the fourth quarter 2018
  • Full-year 2019 reported and adjusted EPS were $6.13 and $6.65, down from $6.17 and $6.92 in the year-ago period
  • Net sales presentation excludes shipping and handling costs, which are now reported in cost of sales
  • 2020 reported EPS expected to be in the range of $6.48-$7.10 and adjusted EPS expected to be in the range of $6.60-$7.20

WESTCHESTER, Ill., Feb. 11, 2020 (GLOBE NEWSWIRE) — Ingredion Incorporated (NYSE: INGR), a leading global provider of ingredient solutions to diversified industries, today reported results for the fourth quarter and full-year 2019. The results, reported in accordance with U.S. generally accepted accounting principles (“GAAP”) for 2019 and 2018, include items that are excluded from the non-GAAP financial measures that the Company presents.

“For the second consecutive quarter, we delivered net sales growth by taking pricing actions across our business which more than offset significant foreign currency challenges. We also grew our global specialties portfolio, led by double digit growth in Latin America. Global volumes were flat, however, due to the continued challenging macroeconomic environment in Asia-Pacific and Europe,” said Jim Zallie, Ingredion’s president and chief executive officer.

“In 2019, we progressed our Driving Growth Roadmap by advancing on-trend specialty growth platforms, including significant investments in plant-based proteins and sugar reduction capabilities. Our specialties portfolio now represents 30 percent of total net sales,” Zallie continued.

“Throughout the year, we also streamlined our organization achieving significant improvements in operational efficiencies and delivering nearly $75 million of run-rate savings against our $30 million – $40 million Cost Smart savings target for 2019. We have broadened and accelerated our transformation efforts, and as a result are increasing our three year Cost Smart savings program target to $150 million by 2021.”

“We are confident in our long-term profit growth outlook and remain focused on executing against our strategic plan to drive growth and increase shareholder value,” Zallie concluded.

*Adjusted diluted earnings per share (“adjusted EPS”), adjusted operating income, adjusted effective income tax rate and adjusted cash flow from operations are non-GAAP financial measures. See section II of the Supplemental Financial Information entitled “Non-GAAP Information” following the Condensed Consolidated Financial Statements included in this press release for a reconciliation of these non-GAAP financial measures to the most directly comparable U.S. GAAP measures.

Diluted Earnings Per Share (EPS)

4Q18 4Q19 2018 2019
Reported EPS $1.36 $1.61 $6.17 $6.13
Acquisition/Integration Costs $0.01 $0.03
Restructuring/Impairment Costs $0.23 $0.18 $0.71 $0.65
Other Matters $0.01 $(0.19) $0.04 $(0.16)
Adjusted EPS** $1.61 $1.61 $6.92 $6.65

**Totals may not foot due to rounding

Estimated factors affecting change in reported and adjusted EPS

4Q19 2019
Margin (0.03) (0.25)
Volume 0.11 0.19
Foreign exchange (0.12) (0.49)
Other income (0.06) (0.10)
Total operating items (0.10) (0.65)
Other non-operating income (0.01) (0.05)
Financing costs 0.01 0.05
Shares outstanding 0.04 0.41
Tax rate 0.07 (0.04)
Non-controlling interest (0.01) 0.01
Total non-operating items 0.10 0.38
Total items affecting EPS (0.27)

Financial Highlights

  • At December 31, 2019, total debt and cash and short-term investments were $1.8 billion and $268 million, respectively, versus $2.1 billion and $334 million, respectively, at December 31, 2018. Cash and short-term investments reductions were primarily driven by pay down of debt.
  • Cash from operations at 2019 year-end was $680 million, down $23 million from the year-ago period, driven by lower net income.
  • Net financing costs were $19 million or $2 million lower in the fourth quarter than the year-ago period, driven by lower interest expense, and $81 million or $5 million lower for the full year of 2019 versus 2018, driven by lower currency exchange impact.
  • Reported and adjusted effective tax rates for the quarter were 25.2 percent and 24.2 percent, respectively, compared to 29.7 percent and 27.4 percent, respectively, in the year-ago period. The improvement quarter over quarter was driven by the revaluation of the Mexican peso against U.S. dollar-denominated balances in Mexico and a reduced valuation allowance on the net deferred tax assets of a foreign subsidiary.
  • The 2019 full-year reported and adjusted effective tax rates were 27.1 percent and 26.3 percent, respectively, compared to 26.9 percent and 25.8 percent, respectively, in 2018.
  • Full-year capital investment cash flows were $328 million, down $22 million from the year-ago period. Full-year 2019 capital commitments were $347 million, as we continue to invest in growth platforms.

Business Review

Total Ingredion

$ in millions 2018 Net sales FX Impact Volume Price mix 2019 Net sales % change
Fourth quarter 1,537 -56 68 1,549 1 %
Full-year 6,289 -292 -52 264 6,209 -1 %

Net Sales

  • Fourth quarter net sales were up slightly compared to the year-ago period. Favorable price mix, primarily due to foreign exchange and raw material pricing pass through, more than offset foreign currency exchange impact.
  • Full-year net sales were slightly down compared to the year-ago period. Substantial changes in foreign currency exchange rates and volume reduction due to the cessation of Stockton wet milling were partially offset by favorable price mix.
  • The Company changed its presentation of shipping and handling charges. Net sales presentation excludes shipping and handling costs, which are now reported as part of cost of sales.

Operating income

  • Reported and adjusted operating incomes for the quarter were $170 million and $168 million, an increase of 8 percent and a decrease of 5 percent, respectively, from the same period last year. The increase in reported operating income was primarily due to indirect tax credits recorded in Brazil, while the decrease in adjusted operating income was primarily due to challenges in Asia-Pacific from the impact of trade disputes and higher input costs.
  • Full-year 2019 reported and adjusted operating incomes were $664 million and $705 million, respectively, a decrease of 6 percent and 8 percent, respectively, compared to $703 million of reported operating income and $767 million of adjusted operating income for 2018. The decrease was largely attributable to foreign exchange impacts and higher raw material and production costs, partially offset by improved price mix.
  • Fourth quarter reported operating income was slightly higher than adjusted operating income by $2 million, as a $22 million benefit from indirect tax credits recorded in Brazil partially offset $16 million of restructuring charges associated with Cost Smart and $4 million of integration and other costs.
  • Full-year reported operating income was lower than adjusted operating income by $41 million as $57 million of restructuring charges related to Cost Smart and $6 million of integration and other costs, were partially offset by a $22 million benefit from indirect tax credits recorded in Brazil.

North America

$ in millions 2018 Net sales FX Impact Volume Price mix 2019 Net sales % change
Fourth quarter 917 -23 28 922 1 %
Full-year 3,857 -10 -82 69 3,834 -1 %

Operating income

  • Fourth quarter operating income was $113 million, a decrease of $1 million from a year ago due to higher net corn costs, partially offset by favorable pricing.
  • Full-year operating income was $522 million, a decrease of $23 million from a year ago due to the higher net cost of corn and higher inventory and production costs partially offset by favorable pricing.

South America

$ in millions 2018 Net sales FX Impact Volume Price mix 2019 Net sales % change
Fourth quarter 245 -46 23 39 261 7 %
Full-year 988 -200 21 151 960 -3 %

Operating income

  • Fourth quarter operating income was $35 million, an increase of $4 million from a year ago. Favorable pricing and higher volumes more than offset higher net corn costs and currency impacts.
  • Full-year operating income was $96 million, a decrease of $3 million from a year ago due to foreign exchange impacts and higher net corn costs, which were partially offset by favorable pricing actions.


$ in millions 2018 Net sales FX Impact Volume Price mix 2019 Net sales % change
Fourth quarter 220 2 1 -9 212 -4 %
Full-year 837 -15 -1 2 823 -2 %

Operating income

  • Fourth quarter operating income was $22 million, down $7 million from a year ago due to increased net corn cost in Australia and continuing impact of trade disputes, which have increased input costs and intensified competitive pressure on price mix.
  • Full-year operating income was $87 million, down $17 million from a year ago. Specialty volume growth was more than offset by higher regional input costs, increased net corn cost in Australia and foreign exchange impacts.

Europe, Middle East, and Africa (EMEA)

$ in millions 2018 Net sales FX Impact Volume Price mix 2019 Net sales % change
Fourth quarter 155 -12 11 154 -1 %
Full-year 607 -67 10 42 592 -2 %

Operating income

  • Fourth quarter operating income was $28 million, down $2 million from a year ago due to higher raw material costs across the region partially offset by price mix.
  • Full-year operating income was $99 million, down $17 million from a year ago. The decrease was due to higher raw material costs and unfavorable foreign exchange impacts, driven primarily by the Pakistan rupee, which was partially offset by improved price mix.

Dividends and Share Repurchases

  • In September 2019, the Company increased the quarterly dividend to $0.63 per share from $0.625 per share, and paid dividends of $174 million in 2019.
  • Impact of our prior year share repurchase program, which was effective November 4, 2018, was a benefit of $0.04 per share in the fourth quarter and $0.41 per share for the full year.

2020 Outlook
The Company expects 2020 reported EPS in the range of $6.48-$7.10 compared to reported EPS of $6.13 in 2019, and adjusted EPS to be in the range of $6.60-$7.20 compared to adjusted EPS of $6.65 in the prior year. This expectation excludes acquisition-related, integration and restructuring costs, as well as any potential impairment costs. Compared with last year, the 2020 full-year outlook assumes: North America operating income increases driven by favorable price mix; South America operating income increases driven by improved price mix and higher volumes; Asia-Pacific and EMEA operating incomes are expected to modestly increase driven by higher volumes and improved price mix; an adjusted effective tax rate range of approximately 26.0-27.0 percent; and continued mid to high single digit specialty ingredients net sales growth.

Cash from operations in 2020 is expected to be in the range of $640 million to $710 million. Committed capital investments are anticipated to be between $285 million to $305 million.

Conference Call and Webcast Details
Ingredion will conduct a conference call today at 9 a.m. ET (8 a.m. CT) hosted by Jim Zallie, The call will be webcast in real time and will include a visual presentation accessible through the Ingredion website at https://ir.ingredionincorporated.com/, in the “Events and Presentations” section, under “News and Events.” The presentation will be available to download a few hours prior to the start of the call. A replay of the webcast will be available for a limited time at https://ir.ingredionincorporated.com/.

Upcoming Communications
Jim Zallie, president and chief executive officer; James Gray, executive vice president and chief financial officer; and Jorgen Kokke, executive vice president, global specialties, will participate in the Consumer Analyst Group of New York (CAGNY) conference on Tuesday, February 18, 2020 at 3 p.m. ET in Boca Raton, Florida. The presentation will be available on the Company’s website,
https://ir.ingredionincorporated.com/, in the “Events and Presentations” section, under “News and Events.”

Ingredion Incorporated (NYSE: INGR) headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With annual net sales over $6 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredients solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion Idea Labs® innovation centers around the world and more than 11,000 employees, the Company co-creates with customers and fulfills its purpose of bringing together the potential of people, nature and technology to create ingredient solutions that make life better. Visit ingredion.com for more information and the latest Company news.

Forward-Looking Statements
This news release contains or may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends these forward-looking statements to be covered by the safe harbor provisions for such statements.

Forward-looking statements include, among others, any statements regarding the Company’s prospects or future financial condition, earnings, revenues, tax rates, capital expenditures, cash flows, expenses or other financial items, including the Company’s expectations regarding 2020 reported and adjusted EPS, 2020 operating income, 2020 adjusted effective tax rate, 2020 cash from operations, and 2020 committed capital investments; any statements concerning the Company’s prospects or future operations, including management’s plans or strategies and objectives therefor; and any assumptions, expectations or beliefs underlying the foregoing.

These statements can sometimes be identified by the use of forward looking words such as “may,” “will,” “should,” “anticipate,” “assume,” “believe,” “plan,” “project,” “estimate,” “expect,” “intend,” “continue,” “pro forma,” “forecast,” “outlook,” “propels,” “opportunities,” “potential,” “provisional,” or other similar expressions or the negative thereof. All statements other than statements of historical facts in this release or referred to in this release are “forward-looking statements.”

These statements are based on current circumstances or expectations, but are subject to certain inherent risks and uncertainties, many of which are difficult to predict and are beyond our control. Although we believe our expectations reflected in these forward-looking statements are based on reasonable assumptions, investors are cautioned that no assurance can be given that our expectations will prove correct.

Actual results and developments may differ materially from the expectations expressed in or implied by these statements, based on various factors, including changing consumption preferences including those relating to high fructose corn syrup; the effects of global economic conditions and the general political, economic, business, market conditions that affect customers and consumers in the various geographic regions and countries in which we buy our raw materials or manufacture or sell our products, including, particularly, economic, currency and political conditions in South America and economic and political conditions in Europe, and the impact these factors may have on our sales volumes, the pricing of our products and our ability to collect our receivables from customers; future financial performance of major industries which we serve and from which we derive a significant portion of our sales, including, without limitation, the food, beverage, paper and corrugated, and brewing industries; the uncertainty of acceptance of products developed through genetic modification and biotechnology; our ability to develop or acquire new products and services at rates or of qualities sufficient to meet expectations; changes in government policy, law or regulations and costs of legal compliance, including with respect to environmental compliance; increased competitive and/or customer pressure in the corn-refining industry and related industries, including with respect to the markets and prices for our primary products and our co-products, particularly corn oil; the availability of raw materials, including potato starch, tapioca, gum Arabic and the specific varieties of corn upon which some of our products are based our ability to pass along potential increases in the cost of corn or other raw materials to customers; energy costs and availability, including energy issues in Pakistan; our ability to contain costs, achieve budgets and to realize expected synergies, including with respect to our ability to complete planned maintenance and investment projects on time and on budget, achieving expected savings under our Cost Smart program as well as with respect to freight and shipping costs; the behavior of financial and capital markets, including with respect to foreign currency fluctuations, fluctuations in interest and exchange rates and market volatility and the associated risks of hedging against such fluctuations; our ability to successfully identify and complete acquisitions or strategic alliances on favorable terms as well as our ability to successfully integrate acquired businesses or implement and maintain strategic alliances and achieve anticipated synergies with respect to all of the foregoing; operating difficulties, including with respect to information technology systems, processes and sites as well as boiler reliability; our ability to maintain satisfactory labor relations; the impact that weather, natural disasters, war or similar acts of hostility, acts and threats of terrorism, the outbreak or continuation of pandemics and other significant events could have on our business; tariffs, quotas, duties, taxes and income tax rates, particularly United States tax reform enacted in 2017; and our ability to raise funds at reasonable rates.

Our forward-looking statements speak only as of the date on which they are made and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement as a result of new information or future events or developments. If we do update or correct one or more of these statements, investors and others should not conclude that we will make additional updates or corrections. For a further description of these and other risks, see “Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2018 and our subsequent reports on Form 10-Q and Form 8-K.

  Tiffany Willis, 708-551-2592
Media:  Becca Hary, 708-551-2602

Ingredion Incorporated (“Ingredion”)
Condensed Consolidated Statements of Income
(in millions, except per share amounts) Three Months Ended
December 31,
Year Ended
December 31,
2019 2018 2019 2018
Net sales $ 1,549 $ 1,537 1 % $ 6,209 $ 6,289 (1 %)
Cost of sales 1,226 1,217 4,897 4,921
Gross profit 323 320 1 % 1,312 1,368 (4 %)
Operating expenses 153 146 5 % 610 611 0 %
Other income, net (16 ) (3 ) (19 ) (10 )
Restructuring/impairment charges 16 19 57 64
Operating income 170 158 8 % 664 703 (6 %)
Financing costs, net 19 21 81 86
Other, non-operating expense (income), net (1 ) 1 (4 )
Income before income taxes 151 138 9 % 582 621 (6 %)
Provision for income taxes 38 41 158 167
Net income 113 97 16 % 424 454 (7 %)
Less: Net income attributable to non-controlling interests 4 3 11 11
Net income attributable to Ingredion $ 109 $ 94 16 % $ 413

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Teledyne e2v to continue to develop and manufacture high specification CCD image sensors

Wafers being transferred into a Silicon furnace

CCD wafers entering the Si furnace as part of the fabrication process

CHELMSFORD, United Kingdom, Feb. 11, 2020 (GLOBE NEWSWIRE) — Teledyne e2v, part of the Teledyne Imaging group, stated today that it will continue its role as a long-term partner in the development, fabrication, and supply of CCD detectors to the high science market – including space exploration, Earth observation, and ground-based scientific endeavours in the fields of microscopy, spectroscopy and astronomy.

As a longstanding supplier to the European Space Agency (ESA), NASA, ESO, and JAXA, e2v understands well the required diligence of delivering science-level visible detection to an environment where detectors and systems simply must work.

Miles Adcock, President of space and quantum at e2v commented, “It is incredible to think how the invention of the CCD more than 50-years ago would lead not only to a multi-billion-dollar-a-year imaging industry but also enable the discovery of distant worlds, and provide the improved understanding of life-sciences that we enjoy today.”

While other technology companies have migrated to CMOS technology over continuing development of CCD technology, Teledyne Imaging, through its European business, e2v, and with Teledyne DALSA’s foundry in Bromont, Canada, will continue to supply high quality, mission critical CCD detectors to enable the most demanding of imaging applications. In addition, the group will continue to invest in complementary technologies such as CMOS, x-ray, spectroscopy, and infrared technologies, providing a well-balanced set of business lines to address a growing customer base across existing and emerging markets.

Teledyne e2v is a part of the Teledyne Imaging group. Their innovations lead developments in healthcare, life sciences, space, transportation, defense and security, and industrial markets. Teledyne e2v’s unique approach involves listening to the market and application challenges of customers and collaborating with them to provide innovative standard, semi-custom or fully custom imaging solutions, bringing increased value to their systems.

Teledyne Imaging is a group of leading edge companies aligned under the Teledyne umbrella. Teledyne Imaging forms an unrivalled collective of expertise across the spectrum with decades of experience. Individually, each company offers best-in-class solutions. Together, they combine and leverage each other’s strengths to provide the deepest, widest imaging and related technology portfolio in the world. From aerospace through industrial inspection, scientific research, spectroscopy, radiography and radiotherapy, geospatial surveying, and advanced MEMS and semiconductor solutions, Teledyne Imaging offers worldwide customer support and the technical expertise to handle the toughest tasks. Their tools, technologies, and vision solutions are built to deliver a unique and competitive advantage.

Teledyne e2v reserves the right to make changes at any time without notice.

Mark Bown, Marketing Manager, Space Imaging
Phone: +44 (0) 1245 453 576

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b7e3d905-095a-4591-8960-cfda958af1dd

Degreed and LearnUpon Partner to Unify Best-in-Class Learning Experience and Learning Management Systems

Deep integration of Degreed’s learning experience platform and LearnUpon’s learning management system offers joint customers a streamlined learning and development solution

PLEASANTON, Calif., Feb. 11, 2020 (GLOBE NEWSWIRE) — Degreed, the workforce learning experience and skill-tracking platform, and LearnUpon, an award-winning learning management system, announced a new strategic partnership that offers the power of both SaaS products through a single solution.

With LearnUpon, companies can create, manage, and track formal workforce learning, such as mandatory or optional training. Degreed provides a single app where workers can find, access, and track formal training, like courses built in LearnUpon, along with informal learning resources, like videos, podcasts, or articles they use in the flow of work.

LearnUpon’s powerful, easy-to-use LMS makes the learning administrator’s job easier while Degreed’s innovative learning experience platform (LXP) amplifies employee engagement with learning by connecting development opportunities to daily work habits and longer-term career goals. Combined, they address the growing challenges of agile creation and adoption of learning resources.

Key benefits of the Degreed + LearnUpon partnership include:

  • One unified learning experience. Users and admins can search, access, and track all relevant learning through one solution.
  • One vendor to manage. Clients can get the most admin-friendly LMS and the most advanced LXP with a single procurement process.
  • One support system. Clients and their end-users get committed, knowledgeable support from customer-obsessed experts on both platforms.

“As businesses look to right-size their learning technology ecosystems, this partnership brings together a best-in-class LMS and the industry’s leading LXP to provide an unrivaled learning experience for our joint customers,” said Brendan Noud, CEO of LearnUpon. “Our combined solution simplifies learning processes, for both admins and learners. It’s easy to use, better integrated, and our dedicated customer focus ensures that LearnUpon and Degreed’s teams deliver an amazing customer experience.”

With Degreed’s unified search, data-powered learning plans, and collaboration tools, everyone can curate or crowdsource their own learning plans as easily as they browse the internet. And through Degreed’s unique, embedded skill ratings and analytics, and its new Total Talent networks, HR and business leaders gain new visibility into the capabilities and gaps of their internal and external workforce.

“We’re not simply offering a seamless integration with LearnUpon—we’re also providing a seamless buying process. Now Degreed can help clients streamline their technology investments and vendor management without sacrificing on user experience, product features, or innovation,” said Chris McCarthy, CEO of Degreed. “Businesses need more than just an engaging learning experience. They need tools that enable their learning and HR teams to adapt more quickly to constantly shifting opportunities. That’s what Degreed + LearnUpon (as well as our recent acquisition of Adepto) is all about.”

To learn more about how you can right-size your learning investments with Degreed and LearnUpon, click here.

About Degreed

Degreed is the workforce upskilling platform for one in three Fortune 50 companies. We integrate and curate all the resources people use to learn — including learning management systems and millions of courses, videos, articles, books, and podcasts. Then we use behavioral and data science to analyze everyone’s skills, and to automatically personalize development based on their jobs, strengths, and goals. Founded in 2012, Degreed is headquartered in Pleasanton, California, with additional offices in Salt Lake City, New York, London, Amsterdam, and Brisbane.

Learn more about Degreed: Website | YouTube | LinkedIn | Twitter

About LearnUpon

LearnUpon LMS is a powerful platform with a practical approach to learning. By combining industry-leading capabilities, unmatched ease of use, and unrivaled customer support, organizations can manage, track, and achieve their diverse learning goals—all through a single, powerful solution. Trusted by over 1,000 customers worldwide, LearnUpon is one of the fastest growing LMSs in the world. Founded in 2012, LearnUpon is headquartered in Dublin, with additional offices in Philadelphia, Sydney, and Belgrade.

Learn more about LearnUpon: Website | Facebook | LinkedIn | Twitter

Note to editors: Trademarks and registered trademarks remain the property of their respective owners.

Media Contacts:

Sarah Danzl
Director of Communications, Degreed

Caroline Lawless
Content Marketing Manager, LearnUpon

Asia Pacific Sourcing Slowed in Q4 by China, HK Uncertainty

Despite slump in managed services, as-a-service soars 26% and accounts for record share of region’s combined market

SYDNEY, Australia, Feb. 10, 2020 (GLOBE NEWSWIRE) — The Asia Pacific outsourcing market, buffeted by uncertainty over China trade and civil unrest in Hong Kong, slowed in the fourth quarter, although cloud-based solutions helped buoy results, according to the latest state-of-the-industry report from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of US $5 million or more, found Asia Pacific’s combined market (managed services and cloud-based as-a-service) slowed to US $2.05 billion of ACV, down 4 percent from the prior quarter, but up 2 percent over a strong 2018 fourth quarter. Despite a declining trend the last two quarters, it was the fifth straight quarter the region has exceeded US $2 billion in combined market ACV.

Managed services slumped 41 percent, to $413 million, in the fourth quarter, as most countries showed declines, with the exception of China, which saw continuing strong demand for applications and infrastructure services. The region’s largest market, Australia-New Zealand (ANZ), saw year-over-year managed services ACV decline for the third straight quarter. It was the region’s worst ACV performance in this segment since the first quarter of 2017, while the number of contracts signed in the quarter (34) was the lowest number since the end of 2016.

The as-a-service segment, however, rose 26 percent, to a record $1.64 billion, and, with the slump in managed services, accounted for a record 80 percent of the combined market for the quarter. Both Infrastructure as a Service (IaaS), up 24 percent, to US $1.38 billion, and Software as a Service (SaaS), up 35 percent, to $252 million, established quarterly records.

“In the middle of last year, we observed a bit of a slowdown in China that affected the large public cloud infrastructure players,” said Scott Bertsch, partner and head of ISG Asia Pacific. “The U.S.-China trade negotiations caused the industry to hesitate on technology purchases.”

The impact was felt mainly in the managed services segment. Bertsch said the last two quarters have “ticked steadily downward from the lofty levels we saw over the last two years,” when the region posted several US $700-million-plus quarters in managed services. Robust demand for as-a-service solutions, Bertsch said, is helping the region weather the economic uncertainty.

Full-Year 2019 Results

For the full year, Asia Pacific’s combined market delivered strong double-digit growth, with ACV of US $8.8 billion, up a resounding 20 percent over the prior year. It was the first time the region exceeded $8 billion of annual ACV. Compared with three years ago, the region’s combined market has more than doubled, ISG noted.

Managed services advanced 10 percent, to $2.8 billion, its best result since 2014, fueled by strong demand from the region’s two largest vertical markets—manufacturing and telecommunications, which helped offset weaker results in the banking, financial services and insurance (BFSI) sector. IT outsourcing (ITO) led the pack for managed services in 2019, with ACV of US $2.3 billion, up 12 percent over the prior year, largely on the strength of growing demand for application development and maintenance (ADM) services, whose ACV rose 27 percent.

Among geographies, India produced the region’s best results, bolstered by several large contract renewals during the year. ANZ, on the other hand, had its weakest ACV performance since 2003, and its lowest contract volume since 2008.

As-a-service, meanwhile, grew 25 percent in 2019, to a record $6.04 billion. This segment now accounts for nearly 69 percent of the region’s combined market, compared with only 49 percent just three years ago. IaaS advanced 25 percent, surpassing US $5 billion for the first time, at US $5.18 billion, and SaaS rose 22 percent, to US $860 million, for the year.

Global Forecast

ISG is forecasting the global market for cloud-based services will grow 23.5 percent in 2020, and the market for managed services will grow 3.2 percent.

About the ISG Index™

The ISG Index™ is recognized as the authoritative source for marketplace intelligence on the global technology and business services industry. For 69 consecutive quarters, it has detailed the latest industry data and trends for financial analysts, enterprise buyers, software and service providers, law firms, universities and the media. In 2016, the ISG Index was expanded to include coverage of the fast-growing as-a-service market, measuring the significant impact cloud-based services are having on digital business transformation. ISG also provides ongoing analysis of automation and other digital technologies in its quarterly ISG Index presentations.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 70 of the top 100 enterprises in the world, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

Press Contacts:

Will Thoretz, ISG
+1 203 517 3119

Jim Baptiste, Matter Communications for ISG
+1 978 518 4527