- Consolidated service revenue of $333.2 million grew 9.5% year-over-year
- GAAP operating margin of 6.8%; adjusted operating margin of 7.1% excluding net restructuring charges of $1.2 million
- GAAP diluted earnings per share of $0.21; adjusted earnings per share of $0.23 excluding restructuring and related charges
- Backlog at approximately $3.74 billion, up 23.8% from the December quarter one year ago, with a net book-to-bill ratio of 1.50

BOSTON, Jan. 30, 2012 (CRWENEWSWIRE) — PAREXEL International Corporation (NASDAQ:PRXL) today announced its financial results for the second quarter ended December 31, 2011.

For the three months ended December 31, 2011, PAREXEL’s consolidated service revenue increased by 9.5% to $333.2 million compared with $304.4 million in the prior year period. On a same store basis, excluding $1.4 million of service revenue in the prior year quarter related to subsequently divested Early Phase units, revenue increased 10.0%. On a year-over-year basis, foreign exchange had a de minimus impact on service revenue in the current quarter. The Company reported operating income under Generally Accepted Accounting Principles (GAAP) of $22.6 million, or 6.8% of consolidated service revenue, in the second quarter of Fiscal Year 2012, versus GAAP operating income of $28.2 million, or 9.3% of consolidated service revenue, in the same quarter of the prior fiscal year. GAAP net income for the quarter ended December 31, 2011 totaled $12.9 million, or $0.21 per diluted share, compared with GAAP net income of $16.8 million, or $0.28 per diluted share, for the quarter ended December 31, 2010. GAAP net income in the quarter decreased by 23.1% year-over-year, and earnings per diluted share decreased by 25.0%.

In Fiscal Years 2012 and 2011, the financial results for the respective December quarters each included special items, as detailed in the financial charts within this press release. Excluding the impact of these special items, adjusted operating income in the second quarter of Fiscal Year 2012 was $23.8 million, or 7.1% of consolidated service revenue. Excluding these special items in the prior year period, adjusted operating income was $27.6 million, or 9.1% of consolidated service revenue. On this adjusted basis, operating income in the quarter ended December 31, 2011 declined 14.0% year-over-year. Adjusted net income in the current and prior periods (which excludes the special items referenced above) was $13.9 million, or $0.23 per diluted share in the quarter ended December 31, 2011, and was $17.2 million, or $0.29 per diluted share in the quarter ended December 31, 2010. Using adjusted numbers in both periods, net income in the current quarter declined by 19.5% year-over-year, and adjusted earnings per diluted share declined by 20.7%.

The Company reported significant progress with regard to its initiative to reduce Days Sales Outstanding (DSO), which declined 10 days on a sequential basis to 57 days.

On a segment basis, consolidated service revenue for the second quarter of Fiscal Year 2012 was $247.9 million in Clinical Research Services (CRS), $38.5 million in PAREXEL Consulting and Medical Communications Services (PCMS), and $46.8 million in Perceptive Informatics.

For the six months ended December 31, 2011, consolidated service revenue was $647.9 million versus $600.2 million in the prior year period, an increase of 8.0%. GAAP operating income for the current six-month period was $35.0 million, or 5.4% of service revenue, compared with GAAP operating income of $58.2 million, or 9.7% of service revenue in the prior year period. GAAP net income for the six months ended December 31, 2011 was $22.5 million, or $0.37 per diluted share, compared with GAAP net income of $34.6 million, or $0.58 per diluted share, in the prior year period. Excluding the impact of special items as detailed in the attached financial charts in both six month periods, operating income was $38.9 million or 6.0% of consolidated service revenue for the six months ended on December 31, 2011, compared with $57.2 million or 9.5% of consolidated service revenue for the six months ended on December 31, 2010. On an adjusted basis, net income for the six months ended December 31, 2011 was $25.6 million, or $0.43 per diluted share, compared with $34.7 million or $0.58 per diluted share in the comparable prior year six month period.

Backlog at the end of December was approximately $3.74 billion, an increase of 23.8% year-over-year. The reported backlog included gross new business wins in the quarter of $622.2 million, cancellations of $121.7 million, a negative impact from foreign exchange rates of $29.7 million, and a downward backlog adjustment of $3.8 million related to dispositions in the Early Phase business. The net book-to-bill ratio was 1.50 in the quarter.

Mr. Josef H. von Rickenbach, PAREXEL’s Chairman and Chief Executive Officer stated, “In the second quarter, we continued our positive momentum, demonstrating solid achievements in a number of key financial and operational areas. On a sequential basis, highlights included accelerated revenue growth for the Company overall, an improved operating margin, and earnings per share that were in line with our projections. Our progress was broad-based, with each of our three reporting segments delivering higher gross margins on a sequential basis. This was the result of improved operating leverage, further benefits of productivity and efficiency initiatives, and the impact of recent restructuring activities. We also generated healthy cash flow from operations, related in part to a substantial reduction in net receivables and a corresponding decrease in DSO.”

Mr. von Rickenbach continued, “We are starting to hit our stride with recently-awarded strategic accounts, and with another quarter of strong new business wins in our backlog, I believe that we are well-positioned to deliver on our goals for Fiscal Year 2012. Operationally, we are committed to meeting the challenges of accelerating revenue growth, and we will continue to put into place the necessary resources to meet client and shareholder expectations for Fiscal Year 2012 and beyond.”

The Company issued forward-looking guidance for the third quarter of Fiscal Year 2012 (ending March 31, 2012), for Fiscal Year 2012, and for Calendar Year 2012. The Company expects to report consolidated service revenue for the third quarter (ending March 31, 2012) in the range of $350 to $358 million, GAAP earnings per diluted share in the range of $0.28 to $0.30, and adjusted earnings per diluted share in the range of $0.30 to $0.32 (which exclude the impact of restructuring and related charges). For Fiscal Year 2012, consolidated service revenue is expected to be in the range of $1.360 to $1.375 billion, GAAP earnings per diluted share in the range of $1.01 to $1.09, and adjusted earnings per diluted share in the range of $1.09 to $1.17 (which exclude the impact of restructuring and related charges). Previously issued guidance for Fiscal Year 2012 was for service revenue in the range of $1.355 to $1.385 billion, GAAP earnings per diluted share in the range of $0.99 - $1.14, and adjusted earnings per diluted share in the range of $1.07 to $1.22 (which exclude the impact of restructuring and related charges). For Calendar Year 2012, consolidated service revenue is expected to be in the range of $1.445 to $1.480 billion, GAAP earnings per share are expected to be in the range of $1.31 to $1.47, and adjusted earnings per diluted share are expected to be in the range of $1.33 to $1.47 (excluding the impact of restructuring and related charges).

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), the Company uses certain non-GAAP financial measures. The Company believes that presenting the non-GAAP financial measures contained in this press release assists investors and others in gaining a better understanding of its core operating results and future prospects, especially when comparing such results to previous periods or forecasted guidance, because such measures exclude items that are outside of the Company’s normal operations and/or, in certain cases, are difficult to forecast accurately for future periods. Management uses non-GAAP financial measures, in addition to the measures prepared in accordance with GAAP, as the basis for measuring the Company’s core operating performance and comparing such performance to that of prior periods and to the performance of its competitors for the same reasons stated above. Such measures are also used by management in its financial and operating decision-making. Non-GAAP financial measures are not meant to be considered superior to or a substitute for the Company’s results of operations prepared in accordance with GAAP.

A conference call to discuss PAREXEL’s second quarter earnings, business, and financial outlook will begin at 10:00 a.m. ET on Tuesday, January 31, 2012 and will be broadcast live over the internet via webcast. The webcast may be accessed in the “Upcoming Events” portion of the main page of the Investor Relations section of the Company’s website at www.PAREXEL.com. Users should follow the instructions provided to assure that the necessary audio applications are downloaded and installed. A replay of this webcast will be archived on the website approximately two hours after the call and will continue to be accessible for approximately one year following the live event. To participate via telephone, dial +1 408-940-3886 and ask to join the PAREXEL quarterly conference call.

The Company notes that Fiscal Year 2011 numbers have been reclassified to conform to the current year’s presentation. A slide depicting the reclassified numbers for Fiscal Year 2011, in addition to other trended financial information, may be found in the Investor Relations section of the Company’s website under the “Additional Financials” section.

About the Company

PAREXEL International Corporation is a leading global bio/pharmaceutical services organization, providing a broad range of knowledge-based contract research, consulting, and medical communications services to the worldwide pharmaceutical, biotechnology and medical device industries. Committed to providing solutions that expedite time-to-market and peak-market penetration, PAREXEL has developed significant expertise across the development and commercialization continuum, from drug development and regulatory consulting to clinical pharmacology, clinical trials management, medical education and reimbursement. Perceptive Informatics, Inc., a subsidiary of PAREXEL, provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 71 locations throughout 52 countries around the world, and has approximately 11,300 employees. For more information about PAREXEL International visit www.PAREXEL.com.

PAREXEL is a registered trademark of PAREXEL International Corporation, and Perceptive Informatics is a trademark of Perceptive Informatics, Inc. All other names or marks may be registered trademarks or trademarks of PAREXEL International Corporation, Perceptive Informatics, Inc. or their respective owners and are hereby acknowledged.

This release contains “forward-looking” statements regarding future results and events, including, without limitation, statements regarding expected financial results, future growth and customer demand. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words “believes,” “anticipates,” “plans,” “expects,” “intends,” “appears,” “estimates,” “projects,” “will,” “would,” “could,” “should,” “targets,” and similar expressions are also intended to identify forward-looking statements. The forward-looking statements in this release involve a number of risks and uncertainties. The Company’s actual future results may differ significantly from the results discussed in the forward-looking statements contained in this release. Important factors that might cause such a difference include, but are not limited to, risks associated with: actual operating performance; actual expense savings and other operating improvements resulting from recent and anticipated restructurings, including the anticipated additional restructuring charges of approximately $2.0 million in the third quarter of Fiscal Year 2012; the loss, modification, or delay of contracts which would, among other things, adversely impact the Company’s recognition of revenue included in backlog; the Company’s dependence on certain industries and clients; the Company’s ability to win new business, manage growth and costs, and attract and retain employees; the Company’s ability to complete additional acquisitions and to integrate newly acquired businesses or enter into new lines of business; the impact on the Company’s business of government regulation of the drug, medical device and biotechnology industry; consolidation within the pharmaceutical industry and competition within the biopharmaceutical services industry; the potential for significant liability to clients and third parties; the potential adverse impact of health care reform; and the effects of exchange rate fluctuations and other international economic, political, and other risks. Such factors and others are discussed more fully in the section entitled “Risk Factors” of the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2011 as filed with the SEC on November 9, 2011, which “Risk Factors” discussion is incorporated by reference in this press release. The Company specifically disclaims any obligation to update these forward-looking statements in the future. These forward-looking statements should not be relied upon as representing the Company’s estimates or views as of any date subsequent to the date of this press release.

Source: PAREXEL International Corporation

CONTACTS:

James Winschel, Senior Vice President and Chief Financial Officer
Jill Baker, Corporate Vice President, Investor Relations
+1-781-434-4118

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Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at http://crwenewswire.com/disclaimer). Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings Inc. (CRWE.OB) is a media-advertisement and newswire company. Crown Equity Holdings Inc. (CRWE.OB), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (CRWE.OB) advertises for a particular client, Crown Equity Holdings Inc. (CRWE.OB) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period.

PHILADELPHIA — (CRWENEWSWIRE) — Lannett Company, Inc. (NYSE AMEX:LCI) today announced that it has received approval from the U.S. Food and Drug Administration (FDA) of its supplemental Abbreviated New Drug Application (ANDA) for Phentermine HCl Capsules, 15 mg. Sales of Phentermine HCl Capsules, 15 mg, at Average Wholesale Price (AWP) were approximately $11 million for the year ending December 2011, according to Wolters Kluwer. Additional sales of this drug are made through bariatric centers. The company expects to commence shipping the product shortly.

“We have a deep pipeline that includes several late-stage, large market opportunity drugs, and an active product development program focused on expanding our pain management franchise,” said Arthur P. Bedrosian, president and chief executive officer of Lannett. “Over the past seven months we have received nine product approvals, which included one New Drug Application, one supplemental ANDA and seven ANDAs. We especially would like to thank our local FDA representatives, as well as the reviewers at the Office of Generic Drugs, who were helpful in getting these products approved.”

Phentermine Hydrochloride (HCl) is indicated for the short-term management of obesity.

About Lannett Company, Inc.:

Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of indications. For more information, visit the company’s website at www.lannett.com.

This news release contains certain statements of a forward-looking nature relating to future events or future business performance. Any such statements, including, but not limited to, successfully commercializing Phentermine HCl 15 mg Capsules, whether expressed or implied, are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, the difficulty in predicting the timing or outcome of FDA or other regulatory approvals or actions, the ability to successfully commercialize products upon approval, Lannett’s estimated or anticipated future financial results, future inventory levels, future competition or pricing, future levels of operating expenses, product development efforts or performance, and other risk factors discussed in the company’s Form 10-K and other documents filed with the Securities and Exchange Commission from time to time. These forward-looking statements represent the company’s judgment as of the date of this news release. The company disclaims any intent or obligation to update these forward-looking statements.

Source: Lannett Company, Inc.

Contact:

PondelWilkinson Inc.
Robert Jaffe, 310-279-5980

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Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at http://crwenewswire.com/disclaimer). Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings Inc. (CRWE.OB) is a media-advertisement and newswire company. Crown Equity Holdings Inc. (CRWE.OB), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (CRWE.OB) advertises for a particular client, Crown Equity Holdings Inc. (CRWE.OB) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period.

World Leader in Transportation and Information Solutions Forms Manufacturing Agreement With Global EMS Provider

TORONTO, Jan. 31, 2012 (CRWENEWSWIRE) — SMTC Corporation (Nasdaq:SMTX) (TSX:SMX.TO) (”SMTC”), a global electronics manufacturing services provider, and Alstom Transport, a global leader in transport, train and track, today announced the completion of a signed contract agreement to manufacture Alstom’s leading edge transportation technology systems and products.

Alstom Transport is the world’s only manufacturer able to master all businesses of the rail sector, offering a complete range of high performance applications: rolling stock, infrastructures, information systems, services and turnkey solutions. With a market share of 12% and sales of 5.6 billion Euros, Alstom Transport is number one worldwide in the high and very high speed train sector and ranks second worldwide in the urban transport market, regional trains, signalling, infrastructure equipment and all associated services.

Through this new contract, SMTC will provide Alstom Transport with a range of electronic manufacturing and integrated service solutions at their Markham, Canada facility in order to support Alstom Transport’s range of complex transportation, signalling and information systems. These services will include NPI (New Product Introduction), PCBA (Printed Circuit Board Assembly), module level assembly, system integration and test. In addition, SMTC will support Alstom Transport’s US content requirements by producing controlled products at their manufacturing facility in San Jose, California.

“This highly complex marketplace of leading edge transportation technology is a strategic focus for SMTC. We have made significant investments in talent, process and manufacturing technologies to support our growing customer base for these complex products,” said Paul Blom, Executive Vice President of Operation for SMTC. “Alstom Transport is an industry leader with a reputation for creating innovative technologies, and we are excited to have been selected by them to industrialize and manufacture their new products.”

About SMTC Corporation: SMTC Corporation, founded in 1985, is a global provider of flexible and customized electronics manufacturing services (EMS) including PCBA production, systems integration and testing, enclosure fabrication, as well as design, engineering and supply chain management services. SMTC facilities span a broad footprint in Mexico, United States, Canada and China, with more than 1,875 full-time employees. SMTC services extend over the entire electronic product life cycle, from the development and introduction of new products through to the growth, maturity and end-of-life phases. SMTC offers fully integrated contract manufacturing services with a distinctive approach to global original equipment manufacturers (OEMs) and emerging technology companies primarily within industrial, medical, computing and communication market segments.

SMTC is a public company incorporated in Delaware with its shares traded on the Nasdaq National Market System under the symbol SMTX and on the Toronto Stock Exchange under the symbol SMX. For further information on SMTC Corporation, please visit our website at www.smtc.com (http://www.smtc.com/)

About Alstom Transport

As part of a sustainable mobility commitment, Alstom Transport designs and offers the most complete range of systems, equipment and services on the railway market. With a 12% market share and a 5.6 billion euro turnover, Alstom is the leading producer of high and very high speed trains and the world’s second largest supplier of urban transport solutions (tramways and metros), signalling, infrastructure equipment, and services.

The increasing complexity of technical solutions and infrastructure projects is leading many customers to demand comprehensive solutions. Present in over 60 countries with 25,500 employees, Alstom Transport is capable of managing an entire transport system and offering turnkey solutions, from rolling stock and signalling to infrastructure and services.

Source: SMTC Corporation

Contact:

Investor Relations information:
Claude Germain
President and Chief Executive Officer
Telephone: (905) 413.1272
Email: investorrelations@smtc.com
Public Relations information:
Tom Reilly
Director of Marketing
Telephone: (905) 413.1188
Email: public.relations@smtc.com

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THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!

Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at http://crwenewswire.com/disclaimer). Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings Inc. (CRWE.OB) is a media-advertisement and newswire company. Crown Equity Holdings Inc. (CRWE.OB), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (CRWE.OB) advertises for a particular client, Crown Equity Holdings Inc. (CRWE.OB) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period.

HOUSTON, Jan. 30, 2012 (CRWENEWSWIRE) — PanGeo Subsea Inc. (PanGeo) and Global Geophysical Services Inc (NYSE:GGS), two leading geophysical service and technology providers, announced that they have entered into an agreement for the development and commercialization of the Acoustic Zoom(R) product line.

Acoustic Zoom(R) uses steered beams of acoustic energy to produce 3D seismic images of the subsurface with higher definition than can be attained with conventional seismic migration techniques. Acoustic Zoom(R) offers the potential for providing new insight into the internal character of petroleum reservoirs. The development partners believe this technique will be particularly well suited to the unconventional “tight” reservoirs such as the Eagle Ford formation of South Texas and the Marcellus shale play (Appalachia) where understanding natural and stimulated fractures of the reservoir can be a key to optimal petroleum production.

Under the scientific direction of Dr. Jacques Guigne, PanGeo has successfully commercialized the use of acoustic beam steering methods within their geotechnical product line Acoustic Corer. “It is a natural continuation along this technology development path to apply similar scientific principles to petroleum reservoirs. The combination of PanGeo’s Acoustic Zoom(R) intellectual property and signal processing know-how along with GGS’s premier seismic data acquisition capabilities is expected to bring the new product line to market at an accelerated pace than would otherwise have been possible,” noted Dr. Guigne.

Tom Fleure, Global’s Senior Vice President of Geophysical Technologies noted, “Upon commercialization, Acoustic Zoom(R) will offer GGS clients the opportunity to focus their analysis on specific areas of interest within a larger data volume. Doing so would be analogous to applications of enhanced MRI techniques in the medical profession. Applying the technique across Global’s expansive unconventional resource data library holds unique opportunities for value creation for our customers.”

An Acoustic Zoom(R) project of 12.5 sq. km has already been jointly acquired by the parties over GGS’s Wrangler 3D multi-client survey in Wilson County Texas over the prolific Eagle Ford (shale), Austin Chalk (chalk), and Buda (limestone) formations. Over two terabytes of data were acquired using a custom array of 4000 receivers with frequencies of up to 170 Hz recorded. Initial results are very encouraging as the data undergoes continued processing by the Acoustic Zoom geoscience team.

Under this agreement GGS becomes a minority shareholder in the jointly owned entity Acoustic Zoom Inc., formed in Newfoundland, Canada.

About PanGeo Subsea Inc.

PanGeo Subsea is a technology development and service delivery company specializing in 3D and 4D subsea acoustic imaging. The company delivers solutions that mitigate risk and create value for oil and gas, offshore renewable energy and other industries including mining and military applications. PanGeo Subsea is a privately held company formed in 2006 between Guigne International Limited and Pan Maritime Energy Services Inc., with venture capital investment by Energy Ventures AS. In July 2009, PanGeo Subsea welcomed Lime Rock Partners and CTTV Investments LLC, the venture capital arm of Chevron. For more information, visit: www.Pangeosubsea.com

About Global Geophysical Services, Inc.

GGS provides an integrated suite of Geoscience solutions to the global oil and gas industry including high-resolution RG-3D Reservoir Grade(R) seismic data acquisition, Multi Client data library products, micro seismic monitoring, seismic data processing, data analysis, and interpretation services. GGS combines experience, innovation, operational safety, and environmental responsibility with leading edge geophysical technology to facilitate successful E&P execution. GGS’ combined product and service offerings provide the ability to Gain InSight™ in the exploration and production of hydrocarbons. GGS is headquartered in Houston, Texas. To learn more about GGS, visit: www.GlobalGeophysical.com.

Source: Acoustic Zoom Inc.

CONTACT:

Prof. Jacques Yves Guigne
Executive Director
Chief Scientist
Mobile# +1 709 7498951
jguigne@nl.rogers.com

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THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!

Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at http://crwenewswire.com/disclaimer). Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings Inc. (CRWE.OB) is a media-advertisement and newswire company. Crown Equity Holdings Inc. (CRWE.OB), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (CRWE.OB) advertises for a particular client, Crown Equity Holdings Inc. (CRWE.OB) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period.