LONDON, UK / ACCESSWIRE / August 31, 2016 / Active Wall St. blog coverage looks at the headline from Apple Inc. (NASDAQ: AAPL). On August 30, 2016, The European Commission ordered the Irish government to recover a record 13 billion Euros ($14.5 billion) plus interest from Apple Inc. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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The executive arm of the European Union stated that Ireland granted undue tax advantage to the iPhone maker, allowing it to pay an effective corporate tax rate of 1% on its European profits in 2003 down to 0.005% in 2014. Ireland and Apple both disagreed with the decision and would appeal against it.

“Member states cannot give tax benefits to selected companies – this is illegal under EU state aid rules,” said Commissioner Margrethe Vestager, “The Commission’s investigation concluded that Ireland granted illegal tax benefits to Apple, which enabled it to pay substantially less tax than other businesses over many years.”

The Tax Arrangement

Apple incorporated subsidiaries in Ireland, but the company has stated that they are not tax-resident in the country. About 90% of its foreign profits are sent to Ireland and then channelled to its subsidiaries which have no tax residence.

Source: European Union

Vestager said that Apple was allowed to allocate almost all sales profits to a head office that “only existed on paper”. This head office “has no employees, it has no premises, and it has no real activities,” she also stated,”The head office was subject to no tax in Ireland or elsewhere.”

Apple first relocated its overseas operations to Ireland in 1980, and signed up an arrangement with the Irish authorities in 1991, until 2007, allowing the company to pay a much lower corporate tax rate in some years; as low as 2%. The tax rate under the deal was far less than the country’s standard corporate tax rate of 12.5%, already the lowest in the EU, and substantially lower than the 35% tax rate in the U.S.

Low income taxes are the cornerstone of Irish economic policy, drawing a number of foreign companies looking to lower their tax bill. According to the American Chamber of Commerce in Ireland, more than 700 U.S. companies have units there, employing 140,000 people.

The Tax Precedent

The Apple case may set a precedent on tax collections, amid a recent crackdown from European Commission on a number of companies to investigate “state aid” provisions. In October 2015, the Commission ordered Luxembourg and the Netherlands to recover €20million to €30 million in unpaid tax from Fiat Chrysler Automobiles N.V. and Starbucks Corp., respectively, in order to remove the unfair competitive advantage they have enjoyed and to restore equal treatment with other companies in similar situations. In December 2015, the commission opened investigations into Luxembourg’s tax agreements with McDonald’s Corp. In January, 2016, the commission ordered Belgium to recover approximately 700 million euros from 35 large companies.

‘Profound and harmful effect’

Apple said the decision would be harmful for jobs.

“The European Commission has launched an effort to rewrite Apple’s history in Europe, ignore Ireland’s tax laws and upend the international tax system in the process,” the company said in a statement, “The Commission’s case is not about how much Apple pays in taxes, it’s about which government collects the money. It will have a profound and harmful effect on investment and job creation in Europe.”

The Irish government held a similar view.

“I disagree profoundly with the Commission,” said Ireland’s finance minister, Michael Noonan, in a statement, “The decision leaves me with no choice but to seek cabinet approval to appeal. This is necessary to defend the integrity of our tax system; to provide tax certainty to business; and to challenge the encroachment of EU state aid rules into the sovereign member state competence of taxation.”

The U.S. Treasury Department, which has pushed back hard against the EU state-aid probes, said the commission’s actions “could threaten to undermine foreign investment, the business climate in Europe, and the important spirit of economic partnership between the U.S. and the EU.”

Enough in Bank

Although the amount demanded is the highest ever in a state-aid case, it is unlikely to be a major issue for Apple, the world’s richest. As of last month, Apple had $232 billion of cash and marketable securities, with about $214 billion of that being held overseas. The expected appeal and the subsequent final decision at the EU courts may be a process, with the final amount Apple required to pay would not be finalized until then. The money can be held in escrow pending a ruling.

Stock Performance

Apple’s stock is down 0.77%, finishing yesterday’s trading session at $106.00 on a total volume of 24.81 million shares traded. Shares of the company have gained 8.24% in the last 3 months and 6.42% in the previous 6 months. Additionally, since the start of the year, Apple’s stock has advanced 2.42%. The company’s shares are trading at a PE ratio of 12.38.

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The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

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ReleaseID: 444556

LONDON, UK / ACCESSWIRE / August 31, 2016 / Active Wall St. announces its post-earnings coverage on Tiffany & Co. (NYSE: TIF). The company announced its second quarter fiscal 2016 (Q2 FY16) and first six months (H1 FY16) earnings on August 25th, 2015. The luxury jewelry retailer reported a 1.0% y-o-y growth in its net earnings in Q2 FY16, primarily on higher gross margins. Register with us now for your free membership at: http://www.activewallst.com/register/.

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Earnings Numbers

During the reported quarter, Tiffany reported net sales of $931.6 million which was 6% lower than $990.5 million recorded in prior-year period and marginally below market expectation of $933.0 million. The company’s GAAP diluted net earnings improved to $105.7 million, or $0.84 per share, in the second quarter of fiscal 2016, from $104.9 million, or $0.81 per share, in the corresponding period of fiscal 2015. The market had expected the company to report GAAP diluted net earnings of $0.71 per share.

However, Tiffany’s non-GAAP diluted net earnings in Q2 FY16 declined 5% on y-o-y basis from $111.2 million, or $0.86 per share, in the year ago period.

For H1 FY16, the company’s Worldwide net sales fell 7% on y-o-y basis to $1.82 billion while, comparable store sales declined 9% on y-o-y basis. Tiffany’s GAAP net earnings for first half of fiscal 2016 stood at $193.2 million, or $1.53 per diluted share, versus $209.7 million, or $1.62 per diluted share, in the comparable prior year period.

Additionally, the jewelry designer and retailer’s gross margin improved to 61.9% in Q2 FY16 from 59.9% in the comparable prior year quarter. Tiffany’s gross margin for H1 FY16 also improved to 61.6% from 59.5% in H1 FY 15. The company attributed this improvement to lower input costs and various steps undertaken by the company to optimize product sales mix and increase in pricing of products.

“The global environment continues to reflect well known challenges that we believe have had broad effects on spending by local customers, as well as foreign tourists, especially from China,” said Tiffany’s Chief Executive Officer Frederic Cumenal in his statement, “We are managing expenses efficiently.”

In Q2 FY 15, Tiffany inaugurated four company-owned stores whereas it pulled shutters on one at an existing location. The company has self-operated 311 stores as on July 31, 2016, of which 125 are in Americas, 83 in Asia-Pacific, 55 in Japan, 43 in Europe, and five in the UAE.

Region-Wise

Tiffany’s total sales in the Americas were $434 million in Q2 FY16 and $837 million in H1 FY16, both lower by 9% on y-o-y basis from their corresponding prior year period. Furthermore, the comparable Americas store sales during Q2 FY16 and H1 FY16 declined 9% and 10%, respectively.

In the Asia-Pacific region, total sales were down 6% on y-o-y basis to $230 million in Q2 FY16 and 7% on y-o-y basis to $469 million in H1 FY16. The company’s sales growth in China and Korea was offset by significant decline in the Hong Kong market and moderate declines in most other markets.

In Q2 FY16, total sales in Europe fell 12% on y-o-y basis to $111 million, due to a 17% y-o-y decline in comparable store sales. Additionally, the company witnessed an 11% y-o-y decline in its total sales to $208 million in H1 FY16, attributable to a 16% y-o-y in comparable store sales in the reported period.

For Tiffany, Japan was a silver lining where total sales grew 10% on a y-o-y basis to $138 million in Q2 FY16 and 9% on y-o-y basis to $269 million in H1 FY16, primarily due to comparable store sales growth of 13% and 12% in the respective periods.

Balance Sheet and Cash Flows

As on July 31, 2016, net inventories were $2.32 billion, down 1% on a y-o-y basis from $2.36 billion as on July 31, 2015. Tiffany made capital expenditures of $101 million in H1 FY16, marginally above $98 million incurred during H1 FY15.

Additionally, the company cash and cash equivalents and short-term investments amounting to $720.1 million as on July 31, 2016, compared to $771.4 million recorded as on July 31, 2015.

Share Repurchases

Tiffany repurchased 1.1 million shares of its common stock for an average cost of $63 per share approximately during the reported quarter. Additionally, the company has bought back 12.3 million shares at an average price of $65 per share approximately during the first half of fiscal 2016.

On July 31, 2016, Tiffany still has $344 million remaining under its $500 million common stock repurchase program that ends on January 31, 2019.

Earnings Outlook

The company’s management has retained its full year earnings guidance for fiscal 2016 and expects worldwide net sales to decline to a low single-digit percentage from fiscal 2015. They also anticipate earnings per diluted share to fall by a mid-single-digit percentage from fiscal 2015 with adjusted earnings per diluted share to be $3.83.

Stock Performance

Tiffany’s shares ended 1.37% lower finishing the trading session at $71.98 on August 30, 2016. The stock recorded a total volume of 2.11 million shares, which was higher than its 3 months average volume of 2.09 million shares. In the last one month and the previous three months, the company’s share price has gained 13.02% and 16.33%, respectively. Currently, the stock traded at a P/E ratio of 20.67.

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Active Wall Street (AWS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. AWS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

AWS has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email info@activewallst.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by AWS. AWS is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

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This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither AWS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.activewallst.com/disclaimer/.

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SOURCE: Active Wall Street

ReleaseID: 444567

NEW YORK, NY / ACCESSWIRE / August 31, 2016 / The S&P/TSX Composite Index rose by as much as 0.70 percent in early trading Tuesday before settling to close at 14,684.85, up 0.02 percent and up approximately 0.7 percent in the month of August. Major gains by Potash Corp. of Saskatchewan Inc. and Agrium Inc., who are amidst merger talks, were offset by declines by gold miners. The TSX materials sector was the biggest loser Tuesday with a decline of 1.99 per cent, as Barrick Gold Corp. and Goldcorp Inc. both fell over 4.7 percent.

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Potash Corporation of Saskatchewan Inc. (TSX: POT)

Get Your Up-To-Date Potash Corp. of Saskatchewan Research Report at www.rdinvesting.com/company/POT.

Potash Corporation of Saskatchewan’s shares soared 11.48 percent to close at C$23.3 a share Tuesday. The stock traded between C$20.84 and C$23.62 on volume of 8.88 million shares traded. On Tuesday, the company and Agrium Inc. stated that they were in talks regarding a potential merger. The merger would create a fertilizer and farm retailer that would own over 50 percent of North American potash capacity. “Opportunities for cost synergies make sense to us, but we have a harder time justifying the market optimism, we think the opportunity for (potash) price hikes are limited,” said Jaffrey Stafford, an analyst at Morningstar. Shares of Potash Corp. of Saskatchewan are down approximately 1.69 percent year-to-date and are up roughly 14.5 percent in the past month.

Argonaut Gold Inc. (TSX: AR)

Get Your Up-To-Date Argonaut Gold Research Report at www.rdinvesting.com/company/AR.

Argonaut Gold’s shares fell 10.99 percent to close at C$3.16 a share Tuesday. The stock traded between C$3.12 and C$3.53 on volume of 1.76 million shares traded. The company reported revenue of $39.1-million from sales of 30,355 gold ounces at an average price of $1,258 per gold ounce and 56,827 silver ounces at an average price of $17 per silver ounce in the second quarter of 2016. Shares of Argonaut Gold have gained approximately 165.5 percent year-to-date, but have fallen roughly 11.7 percent in the past month.

Eastern Platinum Ltd. (TSX: ELR)

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Eastern Platinum’s shares gained 12.90 percent to close at C$0.70 a share Monday. The stock traded between C$0.64 and C$0.71 on volume of 194,533 shares traded. The company reported a net loss of $25.5 million for the second quarter of 2016, which included a $23.3-million impairment charge on its Crocodile River mine. The company’s cash and short-term investments totaled $45.8-million with a net working capital of $52.4-million at the end of the second quarter of 2016. Shares of Eastern Platinum have fallen approximately 16.7 percent year-to-date and are down roughly 17.7 percent in the past month.

Ritchie Bros. Auctioneers (TSX: RBA)

Get Your Up-To-Date Ritchie Bros. Research Report at www.rdinvesting.com/company/RBA.

Ritchie Bros. Auctioneers shares spiked 24.21 percent to close at C$46.74 a share Tuesday. The stock traded between C$43.47 and C$47.05 on volume of 1.25 million shares traded. On Tuesday, the company announced an agreement to acquire IronPlanet, a leading on-line marketplace for used heavy equipment and other durable asset sales, for approximately $758.5 million. Additionally, the company announced that it has entered into a strategic partnership agreement with Caterpillar Inc. Shares of Ritchie Bros. Auctioneers have gained approximately 40.2 percent year-to-date and are up roughly 7.9 percent in the past month.

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ReleaseID: 444562

LAS VEGAS, NV / ACCESSWIRE / August 31, 2016 / The progress biotechnology companies have been making towards fighting cancer, Peter Evans of the UK Times, sees a number of companies expanding their portfolio with potential new drug combinations that may “finally beat cancer”.

Larger drug makers are scouring development, preclinical and clinical biotechs looking for emerging treatments and drugs that could in concert with their IPs could beat cancer.

This could have significant implications for innovative new approaches, like Propanc Health Group Corporation’s lead product, PRP. The Company announced earlier this summer that they have engaged the services of two advisory firms in North America, Maxim Group LLC and Partner International Inc., to explore potential strategic partnering opportunities for the company’s PRP treatment.

Propanc Health Group Corporation (PPCH), an emerging healthcare company focusing on development of new and proprietary treatments for cancer patients suffering from solid tumors such as pancreatic, ovarian and colorectal cancers.

The Company aims to fast track the development of proenzyme related oncology products into clinical trials initially for pancreatic and ovarian cancers, followed by colorectal cancer. According to Global Analyst Reports, the combined world market for pancreatic, ovarian and colorectal cancers are expected to reach over $12 billion by 2020.

Propanc (PPCH) has just announced significant progress of development activities ahead of the First-In-Man studies for their PRP treatment.

First-In-Man studies are exactly what they sound like, the first studies on human subjects, in some circles it is referred to as Phase 0.

Why is this big?

Because this means PPCH is close to becoming a clinical stage biotechnology company. This is a major milestone on the horizon. There are several markers in between which should make for exciting announcement and could help bring this oversold company back to its 2015 highs.

Point is, Propanc is sitting at a bottom, and has a litany of positive announcements ahead potentially. Now would be a great time to buy your tickets for what should be a fun ride up heading into next year’s trials.

Lpath, Inc. (LPTN) has been climbing since the company said it was awarded a government grant to develop its pain treatment, Lpathomab.

Arrowhead Pharmaceuticals, Inc. (ARWR) was initiated with Buy rating and $15 (112% upside) price target by Cantor Fitzgerald.

Reata Pharmaceuticals, Inc. (RETA) has seen a ton of insider buying recently which could be a harbinger for some near term success.

Regenxbio, Inc. (RGNX) has been on a roll since releasing their financials a couple weeks ago, and show no signs of slowing down.

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ReleaseID: 444576

WOBURN, MA / ACCESSWIRE / August 31, 2016 / S.P.O. GLOBAL Inc. (OTC: SPOM), an emerging technology company wishes to update all its shareholders on the unsolicited offer it received.

SPO Global is continuing its discussions on the possible acquisition of the company, and can confirm that it has now been approached by a new party with a possible financial offer that the company is considering. More information will be released on the conclusion of any transaction.

SPO Global is pleased to announce that it has had an outstanding month on the sales activity, with numerous new business wins. The company is firing ahead on all cylinders and is on target for a record year of sales.

SPO Global in August has valued its potential sales from global customers’ requests in August at $184,000.

Owen Dukes CEO stated, “This has been an amazing month with world leading enterprises from the USA and the Asia responding to our marketing campaign with serious potential business opportunities. We are in the process of quoting for two major USA Local Government cities, and are concluding a contract with one of the largest oil complexes in the world based in Kuwait.”

Owen Dukes further stated, “The value of business coming in, and the growing list of customers verifies the substantial value of our IP. I believe the market cap at the moment grossly undervalues the real worth of our company at this present moment.”

For more information on SPO Global visit: http://www.spoglobal.com/.

About
S.P.O. Global Inc.

S.P.O. (SOFTWARE PERFORMANCE OPTIMIZATION) GLOBAL INC, is an emerging technology company that is focused on selling its unique performance testing optimization and monitoring software IP for all enterprise applications. The focus of SPO is to build the company into a major player in this exciting billion dollar market.

SPO Global recently purchased the technology company Reflective Solutions Ltd that sells its unique IP software to major enterprises in North America and Europe.

The principle software products of Reflective Solutions is “Stress Tester” a robust Performance Stress testing solution for large enterprise applications and its new product “Sentinel” that is providing enterprise customers an intelligent monitoring solution 24 / 7 software as a service ( SAS)

SPO Global recently released its annual financials which can be found on the OTC MARKETS web site at http://www.otcmarkets.com/stock/SPOM/profile.

For more information on SPO Global visit: http://www.spoglobal.com/.

This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, expectations regarding the successful expansion of our product base, profitability, market acceptance of our products and new product applications, timing of new product launches, product performance, size of prospective markets, marketing strategies, success of our restructured operations and plans, our ability to generate fees or raise capital to support our business operations and plan, the sufficiency and availability of working capital, changes in economic conditions generally and in more specifically, the introduction of competing products, changes in our operating strategy or development plans, patent protection for our products and technologies, changes in economic conditions generally and in more specifically, in the markets we operate, changes in technology, legislative or regulatory changes that affect us. We undertake no obligation to revise or update any
forward-looking statement for any reason.

SOURCE: S.P.O. Global Inc.

ReleaseID: 444570

StorageReview Benchmarks the Fastest OLTP and OLAP Results from Mangstor’s NX-Series Storage Arrays Using Mellanox’s End-to-End RoCE Solution

AUSTIN, TX and SUNNYVALE, CA / ACCESSWIRE / August 31, 2016 / Mangstor Inc., a leading developer of high performance, next-generation, non-volatile memory storage solutions, and Mellanox® Technologies, Ltd. (NASDAQ: MLNX), a leading supplier of high-performance, end-to-end interconnect solutions for datacenter servers and storage systems, jointly announced today extensions to the Mangstor NX-Series storage array portfolio that deliver industry-leading clustered database workloads using a Mellanox 100Gb/s Remote Direct Memory Access (RDMA) network.

Mangstor’s award-winning NX-Series storage array platform is available in configurations of 10.8TB and 21.6TB of usable capacity, and supports industry standard Ethernet connectivity with network speeds up to 100Gb/s using Mellanox’s end-to-end RDMA over Ethernet (RoCE) solution featuring ConnectX-4 Network Interface Cards (NICs), Spectrum switch, and LinkX cables. The result is an NVMe over Fabric (NVMf) storage solution that provides high bandwidth, low latency flash storage connectivity using minimal server compute resources.

StorageReview labs benchmarked the scalable NX6325 Storage Array in a 32-node virtualized Percona MySQL cluster that distributed the dataset, tempDB file, and log files across 330GB volumes. Testing was performed across a range of nodes, from 4 to 32. Outstanding transactional performance, with low latency, was seen across the range of testing. The NX-Series array delivered a total aggregate performance of more than 38,000 transactions per second (TPS) in the 32-node test.

These results represented over 2.5x faster performance than the next closest shared storage array tested by StorageReview. The latency not only performed extremely well under load, but maintained consistent overall MySQL transactional latency of 14.3ms for a 4 Virtual Machine (VM) node cluster to 26.6ms for a 32 VM node cluster. Though the load ramped up by 8x when going from 4-node to 32-node testing, the latency did not even double. The full test results are available at http://www.storagereview.com/mangstor_nx6325_nvmf_array_review.

“Reducing time to results of MySQL database applications is key to increasing business efficiency for many companies. Low latency data response times from storage enables more OLTP transactions per second without increasing user response times,” said Paul Prince, CTO for Mangstor. “We’re particularly pleased with these results as it shows the ability to bring the fantastic performance of Mangstor NVMf storage to an environment using a cluster of Virtual Machines. This now means that companies choosing to operate MySQL in a virtualized environment can benefit from NVMf storage performance.”

“Using RoCE to transfer data from application servers to storage servers in high-speed and low latency scale-out architectures, bypasses the lower level SCSI transport layer, which eliminates bottlenecks and maximizes overall datacenter efficiencies,” said Motti Beck, senior director enterprise market development at Mellanox. “This joint NVMf storage solution allows customers to fully leverage their existing datacenter infrastructure and operational practices over 10/25/40/50/100 GbE networks.”

The solution features Mangstor’s TITAN NVMf storage software enabling IT managers to dynamically provision shared flash storage via a REST-based API and GUI tools so that large clusters of NVMf storage can be managed efficiently to meet the needs of scalable database cluster environments.

NX-Series Storage Arrays are available through Mangstor’s worldwide sales channel of distributors, resellers, system integrators and manufacturing representatives. Product information is available at www.mangstor.com.

All trademarks, registered trademarks, and/or
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About Mangstor Inc.

Mangstor Inc., founded in 2012 and headquartered in Austin, Texas, is a leading developer of next generation non-volatile memory storage products optimized for low latency, high performance applications. Its product portfolio includes MX-Series PCIe NVMe SSDs, NX-Series NVMf storage arrays, and TITAN NVMf storage target software. First presented at last year’s Flash Memory Summit, the NX6320 array with TITAN software earned a Best of Show award as the Most Innovative Flash Memory Technology, and the first available storage array solution for NVMf.

About Mellanox

Mellanox Technologies is a leading supplier of end-to-end InfiniBand and Ethernet interconnect solutions and services for servers and storage. Mellanox interconnect solutions increase data center efficiency by providing the highest throughput and lowest latency, delivering data faster to applications and unlocking system performance capability. Mellanox offers a choice of fast interconnect products: adapters, switches, software, cables and silicon that accelerate application runtime and maximize business results for a wide range of markets including high-performance computing, enterprise data centers, Web 2.0, cloud, storage and financial services. More information is available at: www.mellanox.com.

Mangstor Media Contact:

Scott Harlin
Director of Marketing Communications
714-619-1795
sharlin@mangstor.com

Mellanox Media Contacts:

Allyson Scott
McGrath/Power Public Relations and Communications
408-727-0351
allysonscott@mcgrathpower.com

Israel
PR Contact:

Sharon Levin
Gelbart Kahana Investor Relations
+972-3-6070567
sharonl@gk-biz.com

SOURCE: Mangstor Inc.

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