Tag Archives: Troy

AT&T Upgrades Network In Southeast Michigan

DETROIT — AT&T Inc. says it has upgraded its wireless network within southeast Michigan.

The improvements include adding greater capacity or bandwidth and speeds to cell towers within Oakland, Macomb, Wayne, Lapeer and Washtenaw counties.

The bandwidth upgrades were made in the following communities within these counties:

* Lapeer County: Lapeer

* Macomb County: Eastpointe, Fraser, Mt. Clemens, Warren (three sites)

* Oakland County: Berkley, Birmingham, Farmington Hills (two sites), Highland Township (two sites), Madison Heights, Novi, Rochester, Southfield (two sites) and Troy

* Washtenaw County: Ypsilanti

* Wayne County: Livonia, Plymouth, Detroit (two sites), Dearborn Heights (three sites)

Earlier this year AT&T also announced a nearly 100-site bandwidth expansion within southeast Michigan. And in May the company announced a 60-site upgrade.

“Our Michigan employees are focused on bringing a better mobile experience to southeast Michigan and across the state,” AT&T Michigan President Jim Murray said. “Our investment in the local wireless network is one way we’re accomplishing that. We’re seeing increased data usage across our mobile network, especially at big events. In fact, data on our mobile network has increased about 250,000 percent since 2007, and the majority of that traffic is video.”

For more information, visit http://about.att.com.

Roush Opens New Engineering Center in Troy

LIVONIA — The automotive firm Roush recently opened its first Oakland County technical center bringing expanded engineering design and development services dedicated to hybrid and electric vehicles, electric propulsion and battery systems, autonomous vehicles, advanced software development and data analytics.

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LG Chem Launches Residential Battery Systems in North America

TROY — LG Chem Ltd., a manufacturer of lithium-ion batteries for automotive, stationary and consumer applications, has launched new residential battery systems in the North American market.

The launch follows successful completion of UL certification and represents LG Chem’s initial foray into the North American residential market. The home energy storage systems are already being sold in Australia, Germany, Italy, Japan, and the United Kingdom.

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ManagedWay Partners with Canada151, Expanding North American Services

TROY — ManagedWay, the Troy-based provider of telecommunications, cloud and colocation services, announced today that it has established a Point-of-Presence at the Canada151 Data Centers in Toronto, enabling fast, reliable service between the U.S. and Canada.

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AT&T Brings Faster Network to More Than 100 Michigan Sites

DETROIT — AT&T Inc. has activated upgrades to bring faster speeds to nearly 100 cell sites around the state.

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New software from solidThinking

TROY — The engineering technology provider Altair announced new releases of its solidThinking Design Suite, including solidThinking Inspire 2017 and solidThinking Evolve 2017.

The company said the new product design software improves usability and adds  multiple new features that have been requested by customers.

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New Supercomputing Cloud Software From Altair

TROY — The Troy-based engineering technology developer Altair says it is rolling out PBS Cloud, its latest appliance system to further cloud computing for organizations.

Altair PBS Cloud runs high-performance computing appliances for both public clouds, private clouds, and bare-metal infrastructure. Altair will release Altair PBS Cloud in the first quarter of 2017 following conclusion of a private preview.

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Spanish Auto Supplier To Expand In Michigan

LANSING — The Madrid, Spain-based auto supplier Corporación Gestamp will expand its global operations at three Michigan locations, state and local government officials announced this week.

The international supplier of automotive chassis, bumpers, hinges and other components, plans to invest $158 million at its plants in Chelsea and Mason, and an additional $700,000 at its North American headquarters in Troy. A total of 235 jobs will be created at the Chelsea and Mason plants, and another 60 new jobs in Troy.

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Repatriation of Cash Brings Syntel Loss

TROY — The Troy-based IT services company Syntel Inc. (Nasdaq: SYNT) reported a loss of $217.2 million or $2.58 a share, compared to net income of $77.7 million or 92 cents a share a year earlier, in the third quarter ended in Sept. 30.

Revenue fell 5 percent to $241.3 million from $253.6 million a year earlier.

For the nine months, the loss was $105.4 million or $1.25 a share, vs. net income of $178.3 million or $2.12 a share a year earlier. Revenue for the nine months was $726.6 million, up from $714 million.

The decline in profitability was the product of repatriation of cash held overseas, resulting in a one-time tax expense of $271 million. The company’s gross margin was 39.2 percent of sales vs. 42.4 percent a year earlier, and the company saw sharply higher selling, general and administrative expenses, at 12.2 percent of sales, up from 6 percent a year earlier.

“Market conditions were challenging during the third quarter as macroeconomic, business and regulatory uncertainty impacted customer spending in what is typically a seasonally strong period,” said Syntel CEO and President Nitin Rakesh. “Despite this, we continued to see some signs of stabilization in our insurance segment, including in the personal lines sub-industry.”

The company declared a one-time cash dividend of $15 a share to its shareholders during the quarter.

Based on current trends and an exchange rate assumption of 67 Indian rupees to the dollar, the Company currently expects 2016 revenue of $960 million to $970 million and loss per share in the range of 65 to 75 cents.

To listen to a conference call discussing the results, call (855) 859-2056 in the United States or (404) 537-3406 elsewhere and enter the pass code 97795475.

More at http://www.syntelinc.com.