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- 01/09/19--05:42: Mobile Accelerators Market to Reach US$ 16,625.9 Mn by 2026 - TMR
- 01/09/19--05:42: Acuity Brands Reports Fiscal 2019 First Quarter Results
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Canadian shares look headed for a positive start on Wednesday, tracking higher U.S. and Canadian futures and cues from Asia and Europe, amid rising optimism about the U.S. and China striking a trade deal ahead of expiry of the 90-day truce.
Reported by RTTNews 2 hours ago.
Increase in smartphone usage and increased internet accessibility in developing countries driving the global mobile accelerators market
Albany, New York, Jan. 09, 2019 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research, the global mobile accelerators market was valued at US$ 1,264.3 Mn in 2016 and is expected to expand at a CAGR of 28.6% from 2018 to 2026, reaching US$ 16,625.9 Mn by the end of the forecast period. According to the report, Asia Pacific was the largest contributor in terms of revenue to the mobile accelerators market in 2016. This is primarily due to strong adoption of smartphones and increasing usage of mobile applications among end-users across the region.
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*Increase in smartphone usage and increased internet accessibility in developing countries driving the global mobile accelerators market*
Increase in smartphone usage and increased internet accessibility in developing countries are the major factors expected to fuel the growth of the mobile accelerators market across the globe. The rise in adoption of mobile applications has been driven by a significant increase in the usage of smartphones. Smartphones have enabled the new trend of content consumption via screens. They make a significant volume of applications available. Furthermore, mobile video usage continues to rise with the widespread use of tablets. The technologically improved devices have enriched user expectations regarding application performance in terms of speed, auto upgrade, etc. Thus, it is anticipated to create new demand for mobile accelerators among consumers. Apart from this,the mobile accelerator market is also being fueled by increasing accessibility of the internet in developing nations. Developing countries are receiving government support for the development of electronic infrastructure, which includes Internet connectivity. Thus, the use of mobile accelerators is expected to rise with an increase in the use of the Internet across the world.This in turn is expected to drive the mobile accelerators market during the forecast period.
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*Mobile Accelerators Market: Scope of the Report*
The global market for mobile accelerators is segmented on the basis of component, app type, end-user, and geographic regions. On the basis of component, the market has been segmented into source optimization, network optimization, and client/device optimization. In 2017, source optimization segment accounted for the largest share in terms of revenue of the global mobile accelerators market. Furthermore, client/device optimization segment is expected to gain major market share throughout the forecast period. On the basis of app type, the global mobile accelerators market has been segmented into gaming, business, education, travel, entertainment, banking, health & fitness, e-commerce, social networking, and location based service app. In 2017, gaming segment accounted for the largest market share in terms of revenue of the global mobile accelerators market. Furthermore, e-commerce app type segment is expected to gain major market share throughout the forecast period. Based on end-user, the global mobile accelerators market has been categorized into content providers, service providers, and network infrastructure providers. Among them, network infrastructure providers segment is expected to expand at a higher compound annual growth rate during the forecast period. Service providers segment is expected to have moderate growth during the forecast period. However, content providers segment held major market share in 2017, and is estimated to dominate throughout the forecast period.
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Based on geography, the global mobile accelerators market has been bifurcated into North America, Asia Pacific, Europe, South America, and Middle East & Africa. Among these regions, the market for mobile accelerators in Asia Pacific is expected to hold its dominant position throughout the forecast period. However, North America and Europe are also expected to contribute significant market share during the forecast period. Furthermore, the markets in Middle East & Africa and South America are anticipated to expand at a significant growth rate during the forecast period.
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*Global Mobile Accelerators Market: Competitive Dynamics*
Major providers of mobile accelerators have started partnering with other ecosystem players in order to broaden their customer base and increase their product/service compatibility. Major technologically established players have started investing in smaller companies to develop strategic partnerships and harness benefits for the future.
The global mobile accelerators market includes different players such as RapidValue IT Services Private Limited, Flash Networks Ltd., Instart Logic Inc., Cloudflare Inc., ITway Solutions LTD., Equinix, Inc., Limelight Networks Inc., IBM Corporation, Salesforce.com, Inc., and Akamai Technologies, Inc.
*Mobile accelerators market has been segmented as below:*
*Market Segmentation: Global Mobile Accelerators Market*
· Source Optimization
· Network Optimization
· Client/Device Optimization
*By App Type*
· Health & Fitness
· Social Networking
· Location Based Service Apps
· Content Providers
· Service Providers
· Network Infrastructure Providers
*In addition, the report provides analysis of the mobile accelerators market with respect to the following geographic segments:*
· North America
· The U.S.
· Rest of North America
· The U.K.
· Rest of Europe
· Asia Pacific (APAC)
· Rest of Asia Pacific
· Middle East & Africa (MEA)
· South Africa
· Rest of MEA
· South America
· Rest of South America
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Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
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Transparency Market Research
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*Research Blog:* http://www.techyounme.com/ Reported by GlobeNewswire 2 hours ago.
Record First Quarter Net Sales and Diluted EPS
ATLANTA, Jan. 09, 2019 (GLOBE NEWSWIRE) -- Acuity Brands, Inc. (NYSE: AYI) (“Company”) today announced fiscal 2019 first quarter net sales of $932.6 million, an increase of $89.8 million, or 10.7 percent, compared with the year-ago period. Operating profit for the first quarter of fiscal 2019 was $116.4 million, a decrease of $3.8 million, or 3.2 percent, over the year-ago period. Net income for the first quarter of fiscal 2019 was $79.6 million, an increase of 11.3 percent compared with the prior-year period. The increase in net income resulted primarily from a lower provision for income taxes. Fiscal 2019 first quarter diluted earnings per share (“EPS”) of $1.98 increased 16.5 percent compared with $1.70 for the year-ago period reflecting both an increase in net income and lower average shares outstanding due to repurchases of the Company’s stock during the prior twelve-month period.
Adjusted diluted EPS for the first quarter of fiscal 2019 increased 19.6 percent to $2.32 compared with adjusted diluted EPS of $1.94 for the year-ago period. Adjusted operating profit for the first quarter of fiscal 2019 decreased $1.4 million, or 1.0 percent, to $134.1 million, or 14.4 percent of net sales, compared with the year-ago period adjusted operating profit of $135.5 million, or 16.1 percent of net sales. Adjusted results are non-GAAP financial measures that exclude the impact of acquisition-related items, amortization expense for acquired intangible assets, share-based payment expense, and special charges for streamlining activities. Management believes these items impacted the comparability of the Company's results and that adjusted financial measures enhance the reader’s overall understanding of the Company's current financial performance by making results comparable between periods. A reconciliation of adjusted financial measures to the most directly comparable U.S. GAAP measure is provided in the tables at the end of this release.
Vernon J. Nagel, Chairman, President, and Chief Executive Officer of Acuity Brands, commented, “Our first quarter performance was solid despite continuing inflationary cost pressures. We have taken several actions to address these cost issues, including price increases and productivity improvements. Further, our top line growth this quarter continued our long trend of outpacing the overall growth rates of the markets we serve, and diluted earnings per share rose nearly 17 percent while adjusted diluted earnings per share increased approximately 20 percent. Our significant growth in net sales this quarter was due in large part from continued efforts to expand our customer base and the introduction of new products and solutions. Net sales through our independent sales network, which historically comprises approximately 70 percent of our total net sales, were up 10 percent in the first quarter compared with the year ago period, primarily as demand for lighting solutions used in small and medium sized lighting projects improved as well as continued strong growth for our building management solutions. This was partially offset by continued weak demand for larger non-residential lighting projects as well as continued product substitution to lower priced alternatives for certain lighting products. During the quarter, we implemented two price increases to recover higher costs for both components and other input items due to inflation as well as government tariffs enacted on certain Chinese-sourced finished goods and components. While we believe that some of the increase in net sales was due in part to customers buying products in advance of the effective dates of these announced price increases, it is impossible to quantify the exact impact this had on our first quarter sales growth or the impact from a potential pull-forward of sales from the second quarter.”
Mr. Nagel continued, “Our adjusted gross profit and margin were negatively impacted by higher input costs for certain items, including electronic and oil-based components, freight, and certain other commodity-related items such as steel. Many of these items experienced dramatic increases in price in the last half of our fiscal 2018 due to several economic factors, including new tariffs and wage inflation caused by tight labor markets. We estimate that the inflationary impact of these items reduced our gross profit in the quarter by approximately $16 million and lowered our gross profit margin by approximately 170 basis points. We believe that the benefit of our recent price increases will better offset higher input costs in our second fiscal quarter and beyond. Our first quarter gross profit margin increased 60 basis points on a sequential basis from the fourth quarter of fiscal 2018 on lower revenues, primarily due to an improvement in sales channel mix and actions to improve our cost structure.”
Fiscal 2019 first quarter results were impacted by the adoption of Accounting Standards Codification 606, Revenue from Contracts with Customers (“ASC 606”), which resulted in a decrease to revenues, gross profit, and operating profit of $2.4 million, $1.1 million, and $1.2 million, respectively, during the three months ended November 30, 2018. Additionally, fiscal 2018 results were restated to reflect the impact of adopting Accounting Standards Update No. 2017-07, Compensation — Retirement Benefits (Topic 715): Improving the Presentation of Net Table of Contents 29 Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (“ASU 2017-07”). Upon adoption of ASU 2017-07, prior year’s first quarter reported operating profit and other expense both increased $1.6 million. The provisions of ASU 2017-07 had no impact to previously reported net income or earnings per share.
The 10.7 percent year-over-year increase in fiscal 2019 first quarter net sales was primarily due to an approximate 11 percent increase in sales volume and a 1 percent favorable impact of acquired revenues from acquisitions net of lost revenues from divestitures, partially offset by the 1 percent combined unfavorable impact of the adoption of ASC 606 and changes in foreign exchange rates. The net change in product prices and mix of products sold (“price/mix”) was flat year over year.
Gross profit for the first quarter of fiscal 2019 increased $17.6 million, or 5.0 percent, to $367.5 million compared with $349.9 million in the prior-year period due to higher sales volumes and productivity improvements, partially offset by higher material, component, and freight costs. Fiscal 2019 first quarter gross profit margin of 39.4 percent declined 210 basis points compared with prior year’s gross profit margin, while adjusted gross profit margin of 39.5 percent declined 200 basis points compared with the year-ago period. Selling, distribution, and administrative (“SD&A”) expenses for the first quarter of fiscal 2019 were $250.1 million compared with $229.5 million in the prior-year period. The increase in SD&A expenses was primarily due to an increase in freight and commission expense to support the greater sales volume, higher employee related costs, and expenses associated with acquired businesses.
The Company recognized a pre-tax special charge of $1.0 million during the first quarter of fiscal 2019, primarily related to moving costs associated with the previously announced transfer of activities from a planned facility closure. In the first quarter of the prior fiscal year, the Company recorded a pre-tax special charge of $0.2 million consisting primarily of severance and employee-related benefit costs for the elimination of certain positions following a realignment of the Company's operating structure.
Net cash provided by operating activities totaled $131.8 million for the first quarter of fiscal 2019 compared with $139.8 million for the year-ago period. Cash and cash equivalents at the end of the first quarter of fiscal 2019 totaled $214.8 million, an increase of $85.7 million since the beginning of the fiscal year. During the first quarter of fiscal 2019, the Company spent $25 million to repurchase two hundred thousand shares of Acuity Brands common stock under its authorized stock repurchase program.
Mr. Nagel commented, “We remain cautiously optimistic for fiscal 2019 and do not believe that the demand outlook has meaningfully changed since our prior outlook provided in early October 2018. Our wide and varied base of customers generally remains positive about current year growth prospects. Many customers continue to have record backlogs though they too are concerned about the timing of releases, particularly for larger projects, and the potential impact of tariffs and inflation on overall demand. Third-party forecasts and leading indicators continue to suggest that the North American lighting market, the Company’s primary market, should grow in the low-single digit range in fiscal 2019.”
Mr. Nagel continued, “Our focus in fiscal 2019 is to garner additional top-line growth driven primarily by outperforming the growth rates of the markets we serve through execution of our previously announced growth strategies, continue to improve the mix of products and solutions sold as we execute our tiered solutions strategy, and leverage our fixed cost infrastructure to achieve targeted incremental margins to improve our overall profitability.”
Mr. Nagel concluded, “We continue to believe the lighting and lighting-related industry as well as building management systems have the potential to experience solid growth over the next decade, particularly as owners and users of lighting equipment and buildings see the potential to transform those investments into strategic assets by deploying our distinctive solutions. We believe we are uniquely positioned to fully participate in this exciting industry.”
*Conference Call *
As previously announced, the Company will host a conference call to discuss first quarter results today, January 9, 2019, at 10:00 a.m. ET. Interested parties may listen to this call live today or hear a replay at the Company's Web site: www.acuitybrands.com.
*About Acuity Brands*
Acuity Brands, Inc. (NYSE: AYI) is the North American market leader and one of the world’s leading providers of lighting and building management solutions. With fiscal year 2018 net sales of $3.7 billion, Acuity Brands currently employs approximately 13,000 associates and is headquartered in Atlanta, Georgia with operations throughout North America, and in Europe and Asia. The Company’s products and solutions are sold under various brands, including Lithonia Lighting®, Holophane®, Aculux®, American Electric Lighting®, Antique Street Lamps™, Atrius™, DGLogik™, Distech Controls®, DTL®, eldoLED®, Gotham®, Healthcare Lighting®, Hydrel®, Indy™, IOTA®, Juno®, Lucid®, Mark Architectural Lighting™, nLight®, Peerless®, RELOC® Wiring, ROAM®, Sensor Switch®, Sunoptics® and Winona® Lighting. Visit us at www.acuitybrands.com.
*Non-GAAP Financial Measures*
This news release includes the following non-GAAP financial measures: "adjusted gross profit,"“adjusted gross profit margin,” “adjusted SD&A expenses,” “adjusted operating profit,” “adjusted operating profit margin,” “adjusted net income,” and “adjusted diluted EPS.” These non-GAAP financial measures are provided to enhance the reader's overall understanding of the Company's current financial performance and prospects for the future. Specifically, management believes that these non-GAAP measures provide useful information to investors by excluding or adjusting items for acquisition-related items, amortization of acquired intangible assets, share-based payment expense, which is used as a method to improve retention and align the interests of key leaders of acquired businesses with those of the Company’s shareholders, and special charges associated with efforts to streamline the organization that we execute on an ongoing basis and to integrate acquisitions. Management typically adjusts for these items for internal reviews of performance and uses the above non-GAAP measures for baseline comparative operational analysis, decision making, and other activities. Management believes these non-GAAP measures provide greater comparability and enhanced visibility into the Company’s results of operations as well as comparability with many of its peers, especially those companies focused more on technology and software.
Non-GAAP financial measures included in this news release should be considered in addition to, and not as a substitute for or superior to, results prepared in accordance with GAAP. The most directly comparable GAAP measures for adjusted gross profit and adjusted gross profit margin are “gross profit” and “gross profit margin,” respectively, which include the impact of acquisition-related items. The most directly comparable GAAP measure for adjusted SD&A expenses is “SD&A expenses,” which includes amortization of acquired intangible assets and share-based payment expense. The most directly comparable GAAP measures for adjusted operating profit and adjusted operating profit margin are “operating profit” and “operating profit margin,” respectively, which include the impact of acquisition-related items, amortization of acquired intangible assets, share-based payment expense, and special charges. The most directly comparable GAAP measures for adjusted net income and adjusted diluted EPS are “net income” and “diluted EPS,” respectively, which include the impact of acquisition-related items, amortization of acquired intangible assets, share-based payment expense, and special charges. A reconciliation of each measure to the most directly comparable GAAP measure is available in this news release. The Company’s non-GAAP financial measures may not be comparable to similarly titled non-GAAP financial measures used by other companies, have limitations as an analytical tool, and should not be considered in isolation or as a substitute for GAAP financial measures.
*Forward Looking Information*
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that may be considered forward-looking include statements incorporating terms such as "expects,""believes,""intends,"“estimates,” “forecasts,” "anticipates,"“could,” “may,” “should,” “suggests,” “remain,” and similar terms that relate to future events, performance, or results of the Company and specifically include statements made in this press release regarding: the amount of the increase in net sales due to customers buying products in advance of the effective dates of announced price increases; the estimated inflationary impact of economic factors on our adjusted gross profit and adjusted gross profit margin; the benefit of recently implemented price increases will more fulsomely offset higher input costs in the second fiscal quarter and beyond; third-party forecasts and leading indicators continue to suggest that the North American lighting market should grow in the low single-digit range in fiscal 2019; the Company’s focus in fiscal 2019 to garner additional top-line growth by outperforming the growth rate of its markets, improving the mix of products and solutions, and leveraging its fixed cost infrastructure to achieve targeted incremental margins to improve the Company’s overall profitability; prospects for continued future profitable growth; and potential for overall demand in the Company’s end markets to experience solid growth over the next decade as well as the Company’s position to fully participate in such growth. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the historical experience of Acuity Brands and management's present expectations or projections. These risks and uncertainties include, but are not limited to, customer and supplier relationships and prices; competition; ability to realize anticipated benefits from initiatives taken and timing of benefits; market demand; litigation and other contingent liabilities; trade policies; labor markets; and economic, political, governmental, and technological factors affecting the Company. Please see the other risk factors more fully described in the Company’s SEC filings including risks discussed in Part I, “Item 1a. Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended August 31, 2018. The discussion of those risks is specifically incorporated herein by reference. Management believes these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and management undertakes no obligation to update publicly any of them in light of new information or future events.
*ACUITY BRANDS, INC.*
*CONSOLIDATED BALANCE SHEETS*
*(In millions, except share data)*
2018* *August 31,
Cash and cash equivalents $ 214.8 $ 129.1
Accounts receivable, less reserve for doubtful accounts of $1.3 and $1.3, respectively 556.7 637.9
Inventories 420.2 411.8
Prepayments and other current assets 60.1 32.3
Total current assets 1,251.8 1,211.1
Property, plant, and equipment, at cost:
Land 22.7 22.9
Buildings and leasehold improvements 186.8 189.1
Machinery and equipment 522.9 516.6
Total property, plant, and equipment 732.4 728.6
Less - Accumulated depreciation and amortization (449.4 ) (441.9 )
Property, plant, and equipment, net 283.0 286.7
Goodwill 966.9 970.6
Intangible assets, net 489.5 498.7
Deferred income taxes 2.9 2.9
Other long-term assets 21.2 18.8
Total assets $ 3,015.3 $ 2,988.8
*LIABILITIES AND STOCKHOLDERS’ EQUITY*
Accounts payable $ 389.7 $ 451.1
Current maturities of long-term debt 0.4 0.4
Accrued compensation 39.7 67.0
Other accrued liabilities 222.2 164.2
Total current liabilities 652.0 682.7
Long-term debt 356.3 356.4
Accrued pension liabilities 62.5 64.6
Deferred income taxes 88.7 92.5
Self-insurance reserves 8.1 7.9
Other long-term liabilities 96.8 67.9
Total liabilities 1,264.4 1,272.0
Preferred stock, $0.01 par value; 50,000,000 shares authorized; none issued - -
Common stock, $0.01 par value; 500,000,000 shares authorized; 53,733,561 and
53,667,327 issued, respectively 0.5 0.5
Paid-in capital 910.2 906.3
Retained earnings 2,060.6 1,999.2
Accumulated other comprehensive loss (121.0 ) (114.8 )
Treasury stock, at cost - 13,874,079 and 13,676,689 shares, respectively (1,099.4 ) (1,074.4 )
Total stockholders’ equity 1,750.9 1,716.8
Total liabilities and stockholders’ equity $ 3,015.3 $ 2,988.8
*ACUITY BRANDS, INC.*
*CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME **(Unaudited)*
*(In millions, except per-share data)*
*Three Months Ended*
2018* *November 30,
Net sales $ 932.6 $ 842.8
Cost of products sold 565.1 492.9
Gross profit 367.5 349.9
Selling, distribution, and administrative expenses 250.1 229.5
Special charge 1.0 0.2
Operating profit 116.4 120.2
Other expense (income):
Interest expense, net 8.7 8.1
Miscellaneous expense, net 1.3 1.2
Total other expense 10.0 9.3
Income before income taxes 106.4 110.9
Income tax expense 26.8 39.4
Net income $ 79.6 $ 71.5
Earnings per share:
Basic earnings per share $ 1.99 $ 1.71
Basic weighted average number of shares outstanding 40.0 41.9
Diluted earnings per share $ 1.98 $ 1.70
Diluted weighted average number of shares outstanding 40.1 42.1
Dividends declared per share $ 0.13 $ 0.13
Net income $ 79.6 $ 71.5
Other comprehensive income (loss) items:
Foreign currency translation adjustments (8.8 ) (10.5 )
Defined benefit plans, net 2.6 1.6
Other comprehensive loss, net of tax (6.2 ) (8.9 )
Comprehensive income $ 73.4 $ 62.6
Certain prior-period amounts have been restated to conform to the current year presentation.
*ACUITY BRANDS, INC.*
*CONSOLIDATED STATEMENTS OF CASH FLOWS **(Unaudited)*
2018* *November 30,
Cash Flows from operating activities:
Net income $ 79.6 $ 71.5
Adjustments to reconcile net income to net cash provided by (used for)
Depreciation and amortization 21.3 19.0
Share-based payment expense 7.8 8.5
Loss on sale or disposal of property, plant, and equipment 0.4 0.1
Deferred income taxes (0.1 ) (0.1 )
Change in assets and liabilities, net of effect of acquisitions, divestitures,
and exchange rate changes:
Accounts receivable 102.0 57.6
Inventories (9.2 ) (11.1 )
Prepayments and other current assets (14.8 ) (9.3 )
Accounts payable (61.5 ) (32.5 )
Other current liabilities (1.6 ) 25.5
Other 7.9 10.6
Net cash provided by operating activities 131.8 139.8
Cash flows from investing activities:
Purchases of property, plant, and equipment (14.0 ) (10.3 )
Other investing activities 2.7 -
Net cash used for investing activities (11.3 ) (10.3 )
Cash flows from financing activities:
Borrowings on credit facility 55.4 -
Repayments of borrowings on credit facility (55.4 ) -
Repayments of long-term debt (0.1 ) (0.1 )
Repurchases of common stock (25.0 ) -
Proceeds from stock option exercises and other 0.1 0.8
Payments for employee taxes on net settlement of equity awards (3.9 ) (6.0 )
Dividends paid (5.2 ) (5.5 )
Net cash used for financing activities (34.1 ) (10.8 )
Effect of exchange rate changes on cash and cash equivalents (0.7 ) (1.2 )
Net change in cash and cash equivalents 85.7 117.5
Cash and cash equivalents at beginning of period 129.1 311.1
Cash and cash equivalents at end of period $ 214.8 $ 428.6
ACUITY BRANDS, INC.*
*Reconciliation of Non-U.S. GAAP Measures*The table below reconciles certain GAAP financial measures to the corresponding non-GAAP measures:
(In millions, except per share data)
Three Months Ended Increase
2018 November 30,
Net sales $ 932.6 $ 842.8 $ 89.8 10.7 %
Gross profit (GAAP) $ 367.5 $ 349.9
Add-back: Acquisition-related items ^(1) 1.2 -
Adjusted Gross profit (Non-GAAP) $ 368.7 $ 349.9 $ 18.8 5.4 %
Percent of net sales 39.5 % 41.5 % (200 ) bps
Selling, distribution, and administrative (SD&A) expenses (GAAP) $ 250.1 $ 229.5
Less: Amortization of acquired intangible assets (7.7 ) (6.6 )
Less: Share-based payment expense (7.8 ) (8.5 )
Adjusted SD&A expenses (Non-GAAP) $ 234.6 $ 214.4 $ 20.2 9.4 %
Percent of Sales 25.2 % 25.4 % (20 ) bps
Operating profit (GAAP) $ 116.4 $ 120.2
Add-back: Amortization of acquired intangible assets 7.7 6.6
Add-back: Share-based payment expense 7.8 8.5
Add-back: Acquisition-related items ^(1) 1.2 -
Add-back: Special charge 1.0 0.2
Adjusted operating profit (Non-GAAP) $ 134.1 $ 135.5 $ (1.4 ) (1.0 %)
Percent of Sales 14.4 % 16.1 % (170 ) bps
Net income (GAAP) $ 79.6 $ 71.5
Add-back: Amortization of acquired intangible assets 7.7 6.6
Add-back: Share-based payment expense 7.8 8.5
Add-back: Acquisition-related items ^(1) 1.2 -
Add-back: Special charge 1.0 0.2
Total pre-tax adjustments to net income 17.7 15.3
Income tax effect (4.5 ) (5.3 )
Adjusted net income (Non-GAAP) $ 92.8 $ 81.5 $ 11.3 13.9 %
Diluted earnings per share (GAAP) $ 1.98 $ 1.70
Adjusted diluted earnings per share (Non-GAAP) $ 2.32 $ 1.94 $ 0.38 19.6 %
^(1) Acquisition-related items include profit in inventory. Contact:
Dan Smith, 404-853-1423
*email@example.com* Reported by GlobeNewswire 2 hours ago.
Europe’s smallest country, Monaco, is about the same size as Cheung Chau – but 6,209 Hong Kongs would fit inside Russia. Eight of the world’s 10 fattest populations live in South Pacific island nations. An A-Z of national dishes – how many have you tried? The highest point in the Maldives, the world’s flattest country, is a man-made 5.1 metre mound located at the eighth hole of Villingili Golf Course. Saint Lucia is the only country named after a woman and Burkina...
Reported by S.China Morning Post 2 hours ago.
· Deliveroo, the $2 billion British food delivery startup being eyed for acquisition by Uber, has lost one of its most senior executives.
· Roy Blanga was previously chief operating officer and left in December, sources told Business Insider.
· Deliveroo has appointed another executive, Rohan Pradhan, as his successor.
· Uber was in early-stage talks to acquire Deliveroo late last year, per media reports and sources.
Britain's $2 billion food delivery startup Deliveroo has lost one of its most senior executives.
Former chief operating officer Roy Blanga left the firm in December, a source with knowledge of the matter said. Business Insider understands that Blanga's departure was announced internally around spring.
Deliveroo confirmed Blanga's departure, and said it had promoted another executive, Rohan Pradhan, to replace him as COO. Blanga did not respond to a request for comment. The source said Blanga was currently exploring his options.
Blanga was previously international vice president of northern Europe at discount giant Groupon, joining Deliveroo in 2015. He led Deliveroo's global expansion when the delivery startup raised $100 million to launch outside Europe.
Pradhan, his successor, previously led Deliveroo Editions, its pop-up kitchens that help restaurants meet demand for takeout orders.
Deliveroo is one of the best-funded startups in the UK, with almost $1 billion in investment and a $2 billion valuation. Its core offering is the Deliveroo app, which allows customers to order takeaway from a broad range of local restaurants, most of which don't have an in-house delivery service. Contracted Deliveroo "riders" deliver the food by bicycle or motorbike.
Its American CEO and cofounder, Will Shu, started the company after being frustrated as a City banker with the poor choice of takeaway food available in London.
While Deliveroo isn't available in the US, Bloomberg reported in September 2018 that Uber was considering acquiring the firm to bolster its UberEats food delivery business.
Sources confirmed that Deliveroo had fielded several acquisition offers, but suggested Will Shu was unlikely to sell. Shu subsequently told Business Insider that his company was not for sale, and insiders have said that any offer from Uber would need to be in the $4 billion to $6 billion range.
According to its 2017 accounts, Deliveroo is growing quickly but also losing large amounts of money. Its revenue for the year grew 116% to £277 million ($361 million) in 2017, on a pre-tax loss of £184.7 million ($241 million).
*SEE ALSO: How Deliveroo went from being the idea of a hungry banker to a $2 billion food delivery giant coveted by Uber*
Join the conversation about this story »
NOW WATCH: We tested out $30 tiny spy cameras from Amazon by spying on our co-workers Reported by Business Insider 2 hours ago.
BRUSSELS - Unemployment in the eurozone fell in November, data showed on Wednesday, as joblessness in Europe neared pre-crisis levels.
Reported by Bangkok Post 1 hour ago.
DGAP-News: Smartcool Systems Inc. / Key word(s): Miscellaneous
09.01.2019 / 14:45
The issuer is solely responsible for the content of this announcement.
Vancouver, British Columbia--(Newsfile Corp. - January 9, 2019) - Ted Konyi, CEO, Smartcool Systems Inc. (TSXV: SSC) (OTC Pink: SSCFF) (FSE: R3W) is pleased to announce that sales for the 4^th Quarter 2018 exceeded $2,400,000 CDN. This is the highest quarterly sales achieved in the company's history.
'I'm extremely excited about the sales that our team has achieved last quarter. It is becoming clear to me that these sales are not an anomaly. The sales funnel has continued to grow and we are seeing that advance into the first quarter with many multilocation opportunities proceeding to rollout of our technologies.' explained CEO Konyi 'Total Energy Concepts (TEC) continues to accelerate their sales and has developed its sales funnel at an unprecedented rate. Activity in the UK continues to grow and should produce a substantial result for 2019'
Damian Smith, President of TEC commented 'The cost of electricity and the cost to maintain equipment seems to be increasing exponentially, which means more expenses for a company's bottom line. What TEC brings to the table not only helps business cut expenses, save energy, and improve efficiency and infrastructure, but we also bring years of engineering expertise to ensure what we bring to the customer is the best possible solution that will improve the bottom line and energy efficiency immediately. And with our $0 capital required procurement option, we can deliver positive cash flow results month after month, year after year. The time is now to save energy and help business owners give their business a raise!'
In the US, TEC is also benefiting from the REAP Grant program that has been extended to 2023, which can pay for up to 25% of energy efficiency project costs in rural communities. The program has already provided funding for some TEC projects and others are being considered.
Smartcool is currently negotiating sales channels with major companies and distributers in Europe, Asia and around the world that, if successful, should add to the overall revenue and profitability in 2019.
Smartcool Systems Inc. provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3, ESM and ECOHome are Smartcool's unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by up to 40%.
Total Energy Concepts (TEC), a wholly owned subsidiary of Smartcool, is a national leader in Power Protection, Energy Management, Power Quality, Facility Grounding, and Lighting Solutions that help companies improve their bottom line by reducing expenses that drastically cut into company profits. TEC focuses on a holistic approach to energy efficiency with proprietary technologies for power factor correction and third party technologies including LED, voltage conditioning and intelligent motor controls.
For more information please visit www.smartcool.net and www.totalenergyconcepts.com
Vice President, Investor Relations
TEL +1 604 904 8632 EMAIL firstname.lastname@example.org
Legal Notice Regarding Forward Looking Statements
This news release contains 'forward looking statements'. Forward-looking statements are projections of financial performance or future events. Forward-looking statements can be identified by the use of words such as 'expect', 'anticipate', 'intend', 'plan', 'believe', 'estimate' and words of similar meaning. Forward-looking statements are based on management's current expectations and assumptions and they are subject to risks that may cause actual results to differ materially from those expressed or implied by such forward looking statements. Forward-looking statements in this news release include those concerning the company's belief in the growth opportunities in the Israel. These statements are subject to risks that may cause the actual results to be materially different in future periods from those expressed or implied by such forward looking statements. Risks that may prevent or delay the forward looking statements from coming to fruition as anticipated include the availability of working capital, risks inherent in product development, as well as market factors that may increase costs or time to market. It is our policy not to update forward looking statements except to the extent required under applicable securities laws. Further information on the Company is available at www.sedar.com or at the Company's website, www.smartcool.net.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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09.01.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Company: Smartcool Systems Inc.
End of News DGAP News Service Reported by EQS Group 1 hour ago.
MagTek’s mDynamo Contact EMV Card Reading Module Secures Customer Data in Touch Dynamic’s Rugged Quest III
SEAL BEACH, Calif. (PRWEB) January 09, 2019
MagTek, a global leader in retail electronic payments and security technology, and Touch Dynamic, a leading manufacturer of all-in-one point of sale (POS) systems, small form factor PCs, rugged tablets and POS peripherals, are excited to announce Quest III, a rugged POS tablet. Quest III brings a touch screen device with EMV Level 3 certification into the marketplace.
Mobile payment applications and environments, from medical facilities to the outdoor elements of a home delivery solution, will benefit from Quest III. This rugged mobile payment tablet features WiFi and Bluetooth LE communications, a 7” projected capacitive touch screen, and MagTek’s mDynamo, a modularized EMV card reader with an attached encrypting IntelliHead, securing both contact EMV and magnetic stripe transactions.
“Teaming up with MagTek is a perfect fit for us as we provide rugged and secure mobile payment hardware to our customers,” said Craig Paritz, President, of Touch Dynamic. “Innovative hardware design sets our products apart, and MagTek’s mDynamo supports our high standards with the highest card data security.”
“We’re truly excited to partner with Touch Dynamic in selecting mDynamo,” says Tom Coduto, Vice President and General Manager of MagTek’s OEM Business Solutions. “Mobile POS needs can vary widely in the marketplace, which is why we take pride in partnering with Touch Dynamic and their ability to meet such a broad range of needs in a compact solution with Quest III.”
Quest III advances the capabilities of accepting payments with both encrypting magstripe and contact EMV acceptance. In addition to the data security provided by mDynamo, Quest III offers low power consumption, more storage and memory, and is compatible with both Android and Windows operating systems. Behind the scenes, the dedicated teams at Touch Dynamic and MagTek offer expert integration and product support for Quest III, offering easy implementation into a merchant’s environment for a dynamic payment terminal.
To learn more about MagTek’s mDynamo, visit http://www.magtek.com or stop by Booth #4173 at the NRF Convention and Expo 2019, at the Jacob Javits Convention Center, New York City, NY on January 13 - 15. To learn more about Touch Dynamic visit http://www.touchdynamic.com.
Since 1972, MagTek has been a leading manufacturer of electronic devices and systems for the reliable issuance, reading, transmission and security of cards, checks, PINs and other identification documents. Leading with innovation and engineering excellence, MagTek is known for quality and dependability. Its products include secure card readers, check scanners, PIN pads and distributed credential issuing systems. These products are used worldwide by financial institutions, retailers, hotels, law enforcement agencies and other organizations to provide secure and efficient electronic payment and identification transactions.
Today, MagTek continues to innovate with the development of a new generation of security centric products secured by MagneSafe®. By leveraging strong encryption, secure tokenization, real time authentication and dynamic payment card data, MagneSafe products enable users to assess and validate the trustworthiness of credentials used for online identification, payment processing, and other high-value electronic transactions.
MagTek is based in Seal Beach, California and has sales offices throughout the United States, Europe, and Asia, with independent distributors in over 40 countries. For more information, please visit http://www.magtek.com.
About Touch Dynamic
Founded in August of 2001, Touch Dynamic is an ISO 9001:2015 certified manufacturer of all-in-one touch terminals, small form factor PCs, touch screen monitors and mobile POS devices for a variety of industries. We understand the demands on our channel partners and provide unique products and additional value-added services to help them meet the specific needs of their customers. For more information, visit http://www.touchdynamic.com Reported by PRWeb 1 hour ago.
CALGARY, Alberta, Jan. 09, 2019 (GLOBE NEWSWIRE) -- *Voyageur Minerals Ltd*. (TSX.V:VM) (the “Company” or “Voyageur”) is pleased to announce that it has created its new radiological contrast pharmaceutical joint venture company. The company, named ImagingX Pharmaceuticals Inc. (“ImagingX”), is owned by Voyageur and Chief Medical Supply Ltd (“Chief”) as to 50% each.
With a view to ultimately becoming the lowest cost producer of barium contrast suspension products in North America and Europe, ImagingX is taking the following steps to move into cash flow:
1. 2,000,000 grams of USP Barium Sulfate has been sourced from third party sources to be used for initial product formulation and near term sales.
2. ImagingX is preparing the application for its product registration number from Health Canada. The estimated time line for approval is 90 days. Upon receipt of this registration number, ImagingX can begin Canadian sales and distribution. Cash flow should be realized shortly thereafter.
3. ImagingX is currently working on its formulation for its initial barium contrast product.
4. ImagingX is assembling a marketing and sales team.
The joint venture plans on targeting markets with both government run health care systems and private clinics. The following markets will be pursued in the very near term after Canadian sales commence:North America, Europe, Brazil, Argentina, Costa Rica, Panama, Colombia, South Africa, Russia, Israel, Turkey, Jordan, Qatar, Kuwait, UAE, Malaysia, Singapore, Hong Kong, China, Japan, Philippines, Brunei, South Korea, Australia and New Zealand.
Voyageur is responsible for providing USP barium sulfate to the joint venture. Voyageur has 100% ownership of two high grade barium sulfate deposits, allowing the joint venture to have the lowest cost barium sulfate in the current market place.Barium sulfate makes up approximately 98% of the cost of the ingredients in barium contrast suspension products. Owning the only pharmaceutical grade barite project outside of China will allow the joint venture to become a very competitive pharmaceutical contrast company in the market.
ImagingX will be the only Canadian pharmaceutical barium producer since the closure of the Brookfield pharmaceutical barite mine in Nova Scotia. Until Voyageur is able to produce pharmaceutical grade barite from its own properties, the North American barium contrast market is 100% reliant upon imports of high end USP barite from China.
*About Chief Medical Supply:*
Chief provides high quality, competitively priced pharmaceuticals and hemodialysis products to pharmacies and hospitals across Canada. Operating from both its 33,000 square-foot plant in Calgary, Alberta and its 90,000 square-foot facility in Mississauga, Ontario, Chief is able to supply products coast-to-coast. Chief has both drug and medical device establishment licenses issued by Health Canada.
Chief has the ability to turnkey production of ImagingX barium contrast products in their Health Canada and FDA approved manufacturing facilities.
*About Voyageur Minerals *
Voyageur is a Calgary based company which owns 100% interest in three barium sulfate deposits including two properties suitable in grade for the industrial barite market place, and interests two high grade lithium brine project in Utah, USA.
Voyageur's business plan is to develop its barite deposit at Frances Creek, BC, Canada, for near term cash flow, while it continues exploration for critical and strategic minerals. The Frances Creek project is moving forward to manufacture pharmaceutical grade barium sulfate and high purity Blanc fixe barium sulfate for the paint and plastic markets.
The Company’s qualified person as defined by NI 43-101, Mr. Brad Willis has reviewed this news release and approved it.
*For further information, please contact:*
John Rucci, CEO
Cell (403) 383-8588
Office (587)-779-6166 Steven R. Livingston, VP Finance
Cell (403) 471-1659
*Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.*
*Cautionary Note Regarding Forward-Looking Statements *
This news release contains forward-looking statements relating to the Qualifying Transaction, including statements regarding the acquisition of future assets, the discovery and commercialization of commercial quantities of industrial minerals, the successful commercialization of the Company’s assets, expected operational activities, other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: the risk that the assets do not provide commercial quantities or grades of marketable minerals, that even if they do contain commercial quantities of marketable minerals that the Company will not be able to economically produce such discoveries, the existence of commercial grades of commercial minerals, timing of obtaining required approvals, competition in the pharmaceutical space, the ability to create a saleable product, the state of the economy in general and capital markets in particular, investor interest in the business and future prospects of the Company.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above. Reported by GlobeNewswire 1 hour ago.
Pregnancy Care Products Market (By Product - Stretch Mark Minimizer, Breast Cream, Toning/Firming Lotion, Itching Prevention Cream, Nipple Protection Cream, Body Restructuring Gel, Stressed Leg Product) - Global Industry Size, Share, Trends and Forecast 2018 - 2026
LOS ANGELES, Jan. 09, 2019 (GLOBE NEWSWIRE) -- The global *pregnancy care products market* size is anticipated to around USD 34.2 million by 2026, this market is anticipated to grow with 5.5% CAGR during the forecast time period. Expanding mindfulness with respect to utilization of individual consideration products amid pregnancy and high selection of natural products are driving the market.*Download Report Sample For Better Understanding@ https://www.acumenresearchandconsulting.com/request-sample/945 *
A move in trend toward selection of natural maternity individual consideration products inferable from security worries over compound based products is changing the situation of the general market. Moreover, new and in addition existing players are acquainting natural or home grown variations with increment their market nearness and product situating. Likewise, rising mindfulness and expanding impact of promoting and web based life crusades are boosting the selection of pregnancy care products.
Doctors don't suggest the utilization of specific synthetic concoctions, for example, retinol, salicylic corrosive, beta hydroxy acids and toluene amid pregnancy as they represent a risk to both mother and infant. This has blocked the development of substance based pregnancy care products.
Stretchmark minimizers is the biggest section of the worldwide pregnancy care products advertise inferable from rising worry of stretchmarks amid growth period. Bosom creams and conditioning/firming salves are required to encounter worthwhile demand over the gauge time frame attributable to expanding mindfulness and rising center regarding post pregnancy body. Asia Pacific rose as the prevailing provincial market inferable from most noteworthy number of pregnancies and rising perception with respect to reception of pregnancy care products.
*VIEW FULL REPORT WITH COMPLETE TOC@ https://www.acumenresearchandconsulting.com/pregnancy-care-products-market *
The global pregnancy care products market is segmented into product and region. On the basis of product, the global pregnancy care products market is segmented into stretch mark minimizer, breast cream, toning/firming lotion, itching prevention cream, nipple protection cream, body restructuring gel, and stressed leg product. On the basis of region the global pregnancy care products market is segmented into Latin America, Europe, Asia Pacific, North America, and Median East & Africa.
Stretchmark minimizers developed as the biggest fragment in the worldwide market in 2018. High utilization of stretchmark minimizers as a preventive measure is one of the key elements adding to the portion's predominance. Expanding mindfulness with respect to pregnancy care over the figure time frame is foreseen to drive showcase development. The breast cream sub-segment is relied upon to show quickest development rate in the pregnancy care products market. This is related with rising worries of breast wellbeing amid pregnancy and amid lactation period. A lady experiences a few physiological changes amid pregnancy, incorporating change in breast estimate, particularly amid the principal trimester. Appropriate breast care is firmly exhorted amid incubation period to guarantee legitimate sustaining after conveyance. Ill-advised consideration may prompt issues, for example, flexibility, listing, and straightening of breasts.
The worldwide market is ruled by Asia Pacific and the district is required to hold its strength during the forthcoming years. Rising need for pregnancy care products, disposable income, higher birth rate, and developing mindfulness among would-be guardians are scratch factors contributing toward regional development. Nations, for example, India, China, and Japan have a huge populace base, which makes the client base for these products a lot bigger. The district has been seeing a change in outlook in client purchasing conduct with expanding disposable income. Forceful showcasing embraced by organizations to bring issues to light dimensions is likewise catalysing development. Latin America and MEA are relied upon to show a critical development rate over the coming years attributable to rising worries over pre-natal and post-natal consideration. This, combined with expanding birth rate, is probably going to support appropriation of pregnancy care products in the locale.
The key players catering to the global pregnancy care products market are Expanscience Laboratories, Inc., Mama Mio U.S. Inc., Novena Maternity, E.T. Browne Drug Co., Inc., Noodle & Boo and Clarins Group are a few of the main players in the worldwide market. The players are continuously developing and innovating new products to meet the competitive environment. Partnerships with other industry members, need in R&D, and product separation are among the key techniques received by market players for increasing focused edge. Significant strategic initiatives undertaken by global businesses include partnerships, new product launch, acquisitions.
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*Browse More Press Releases: **http://trendsdesk.com/* Reported by GlobeNewswire 1 hour ago.
German imports fell unexpectedly in November, outstripping a drop in exports and widening the trade surplus, data showed on Wednesday, in a further sign that Europe's largest economy is likely to post meagre growth in the fourth quarter of 2018.
Reported by Reuters India 29 minutes ago.
Deal makers record worst year in a decade as global M&A market underperforms for fifth straight quarter
ARLINGTON, Va., Jan. 09, 2019 (GLOBE NEWSWIRE) -- The global M&A market continues to struggle to add value, and buyer performance has been in steady decline since a 2015 peak, according to long-term data compiled by leading global advisory, broking and solutions company, Willis Towers Watson (NASDAQ: WLTW) and Cass Business School. After 2018 saw deal makers underperform in terms of shareholder value for an unprecedented fifth consecutive quarter and record their worst annual performance in a decade, what can potential acquirers expect in 2019?According to the latest results from Willis Towers Watson’s Quarterly Deal Performance Monitor (QDPM), Asia Pacific acquirers have shown the worst annual performance of all regions with an underperformance of 17.1 percentage points (pp) below the regional MSCI Index, followed by an underperformance by North American acquirers of 3.8 pp below their regional index. Europe was the only region to see its acquiring companies outperform their regional index over the course of 2018, by 5.9 pp.
“The market stress that characterized 2018 will persist, with rising regulatory uncertainty, ongoing trade and tariff negotiations, including Brexit talks and the U.S.-China trade disputes, making it ever more challenging to deliver deals successfully,” said David Hunt, senior director, Willis Towers Watson’s mergers and acquisitions team. “However, with the strategic imperative for deals remaining strong, we think there’s a realistic chance that deal makers will do better next year as long as acquirers pick their targets carefully for growth.”
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
* Global M&A deals —
points)* 3.2 4.0 2.7 –0.7 4.5 5.5 10.1 5.4 –1.3 –3.0
*The figures in the table show the annual median-adjusted performance of all acquirers.
*2019 M&A predictions*
Based on short- and long-term trends revealed by the data, as well as conversations with clients, here are Willis Towers Watson’s five M&A predictions for 2019:
1. *Things can only get better in 2019**:* 2018 was a tough year for deal makers, who recorded their worst annual performance since the financial crisis in 2008. Although complex headwinds remain, we are optimistic that the market will bottom out in 2019 and, supported by more clarity over the direction of the U.S. administration and Brexit, improve the position of buyers in achieving better value from their deals.2. *U.S. M&A market will remain steady, but foreign deals will fall**:* We expect to see a global decline in the number of cross-border deals due to regulatory constraints fueled by an increasing trend toward protectionism. This will lead to a more defensive strategy of domestic consolidation, for which some nations will be better equipped. The U.S. domestic M&A market, for example, has traditionally shown itself to be very robust, so we expect volumes to remain stable as acquirers focus their firepower on domestic targets.3. *No uptick is expected in Asia Pacific**:* As well as a significant drop in deal volume, Asia Pacific acquirers recorded the worst annual performance of all regions in 2018, with an underperformance of 17.1 pp below the regional MSCI Index. We expect M&A activity from Chinese companies to be muted in 2019, impacting volumes across the Asia Pacific region.4. *Outside interest in the U.K. remains strong:* While ongoing uncertainty around Brexit is likely to translate into less M&A activity for U.K. companies in 2019, the positive results enjoyed by non-U.K. acquirers when buying in the U.K. will see Britain remain one of the most popular M&A target nations.5. *Mega deals continue to struggle:* There were 17 mega deals in 2018 (those valued at over $10 billion), which underperformed the market by 14.5 pp, the worst performance of all deal types. Global political uncertainty, from trade wars and growing protectionism to Brexit, will continue in 2019 and negatively impact mega deals in particular, as buyers will be cautious of transactions that take a long time to complete in a volatile deal making environment.
“Technology disruption, changing consumer behavior, the slowdown in the growth of emerging markets and record cash reserves will drive companies to get into the M&A market,” said Hunt. “With many targets looking more expensive than they were during previous M&A peaks, such as in 1999 during the dot-com boom and in 2008 before the global financial crisis, there has never been a more important time for decision makers to focus on target selection, diligence and execution before jumping into a deal if they are to give themselves the best chance of success.”
*Willis Towers Watson QDPM methodology*
· All analysis is conducted from the perspective of the acquirer.
· Share-price performance within the quarterly study is measured as a percentage change in share price from six months prior to the announcement date to the end of the quarter.
· All deals where the acquirer owned less than 50% of the shares of the target after the acquisition were removed; hence, no minority purchases have been considered. All deals where the acquirer held more than 50% of target shares prior to the acquisition have been removed; hence, no remaining purchases have been considered.
· Only completed M&A deals with a value of at least $100 million that meet the study criteria are included in this research.
· Deal data are sourced from Refinitiv.
*About Willis Towers Watson M&A*
Willis Towers Watson’s M&A practice combines our expertise in risk and human capital to offer a full range of M&A services and solutions covering all stages of the M&A process. We have particular expertise in the areas of planning, due diligence, risk transfer and post-transaction integration, areas that define the success of any transaction.
*About Willis Towers Watson*
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has over 40,000 employees serving in more than 140 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.
*Media contact *
Ed Emerman: +1 609 275 5162
firstname.lastname@example.org Reported by GlobeNewswire 20 minutes ago.
Euronews spoke to Chris Marsden, the co-author of a study into how we can monitor efforts by social networks such as Facebook and Youtube to regulate disinformation on their own platforms.
Reported by euronews 7 minutes ago.
*London, January 9^th 2019*
Asper Investment Management has appointed David Walker as a Senior Advisor to its board of directors.
David will work with Asper’s leadership team, providing strategic advice on business development and institutional relations. He was previously a Private Equity Director at BMO Global Asset Management; he has also held leadership positions within the European Investment Bank and EIF, including Head of Infrastructure Funds, Climate Change and Environment Division from 2010 to 2015. David also sits on the Advisory Council of the WWF in Scotland.
Luigi Pettinicchio, CEO of Asper said “we are absolutely delighted to work with David! As a previous investor in the Asper funds, David knows our team and our investment approach very well. Most importantly, he is a leading figure in the European sustainable investment space and brings into Asper a wealth of experience and precious network resources”.
David Walker further commented: “Asper is one of the few renewable energy investment managers in Europe with both a focus on greenfield development, and experience building industrial scale asset platforms. This team is therefore well positioned to generate significant impact through its investments at a time when sustainable infrastructure development and climate change mitigation have become ever more urgent. I’m really looking forward to helping this highly motivated and energetic team grow and achieve full potential”.
www.asper-im.com Reported by GlobeNewswire 20 minutes ago.
Austria has issued its highest warning for avalanches while food had to be trucked in to an Alpine village in Bavaria for residents stuck in their homes. At least 14 people have died, and more snow is forecast.
Reported by Deutsche Welle 35 minutes ago.
The sudden stratospheric warming in the Arctic which sparked the cold snap across Europe happened again this Christmas so we could be in store for a repeat of the same weather patterns
Reported by Bristol Post 4 minutes ago.
Dublin, Jan. 09, 2019 (GLOBE NEWSWIRE) -- The "Tractor Market in Europe - Industry Outlook and Forecast 2018-2023" report has been added to *ResearchAndMarkets.com's* offering.The tractor market in Europe is expected to reach volumes of around 350 thousand units by 2023, growing at a CAGR of more than 5% during 2018-2023.
The increasing use of advanced machinery in agricultural activities such as plowing the fields to get them ready for crop sowing is one of the major drivers of the tractor market in Europe. The growing demand for agriculture equipment such as rotavators and combines and effective monetary policies will augment the development of the global market. The latest mandate of the Mother Regulation for the manufactures as well as the requirements of the farmers and farm landholders who choose agriculture tractors based on usage and the land area will propel the growth of the market in the European region.The implementation of stringent safety regulations such as TMR, diesel emission norms, and ABS mandatory will encourage the leading vendors to launch innovative, new products in the European market. The key players are capitalizing on the finance schemes and offer to boost sales to clear their inventories in the European market.
Focus on emission standards as per the research analysts, also predicts that the mandate regarding stage v diesel engine and emission norms will surge the sales in the European market during the forecast period. The growing demand for farming equipment due to an increase in the total factor productivity in farming, reduction in post-harvest loss, value addition to the agricultural raw materials, and better quality of agricultural products will boost the demand in the tractor market in Europe.
The increasing investments towards the development of farming machines for the use of plowing, planting, harrowing, tilling, and disking will result in rising revenues in the European market. The implementation of GPS, telematics, and remote sensors in tractors with the collaboration of large smart tech companies will revolutionize the market over the next few years.
*Tractor Market in Europe - Dynamics*
The growing focus on automation and reduction of labor costs is encouraging farmers to adopt mechanization and augmenting the growth of the tractor market in Europe. The development of precision farming process will result in easier farm scanning, crop scouting, and farm machinery maintenance in the European market. The trend of increasing minimum wages will force many agricultural communities to strategize on containing the labor cost and focus on automation and development of advanced machinery in the European market.
The adoption of mechanization by large enterprises is estimated to potentially eliminate the labor job by around 40% by 2025 and can offer cost savings up to about 20%, offering a boost in operating margins by between 10-15% in the European market. Countries such as Romania, Latvia, Lithuania, the UK, and Bulgaria are amongst the highest minimum wage paying regions in the European market. Such increase in overall cost will propel the demand in the tractor market in Europe.
*Key Vendor Analysis*
The tractor market in Europe witnesses the presence of established players in various segments including open fields and vineyards that control the competition in the market. The leading vendors are focusing on improving the aftersales services to increase customer brand loyalty and boost the demand for their products in the European market.The leading companies are introducing the concept of autonomous technology in agriculture tractors to sustain the competition in the European market. The integration of advanced technologies such as auto-steering and telematics will revolutionize the tractor market in Europe during the forecast period.
*The major vendors in the European market are:*
· Deere & Company
· CNH Industrial
*Other prominent vendors include:*· SDF
· Argo Tractors
· Lovol Arbos Group
*Key Topics Covered:**1 Research Methodology*
*2 Research Objectives*
*3 Research Process*
*4 Report Coverage*
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
*5 Report Assumptions & Caveats*
5.1 Key Caveats
5.4 Currency Conversion
5.5 Market Derivation
*6 Market at a Glance*
*8 Market Dynamics*
8.1 Market Growth Enablers
8.2 Market Growth Restraints
8.3 Market Opportunities & Trends
*9 Agriculture Tractor Market in Europe*
9.1 Market Overview
9.2 Type-Approval (Mother) Regulations in Europe
9.3 Porter's Five Forces Analysis
*10 Agriculture Tractor market in Europe by Wheel Drive*
10.1 Market Overview
10.2 Agriculture Tractor Market in Europe By 2WD Tractors
10.3 Agriculture Tractor Market In Europe By 4WD Tractors
*11 Agriculture Tractor Market in Europe by HP*
11.1 Market Overview
11.2 Agriculture tractor market in Europe by 11.3 Agriculture tractor market in Europe by 40-100 HP
11.4 Agriculture tractor market in Europe by >100 HP
11.5 Agriculture tractor market in Europe by 4WD
*12 Agriculture tractor Market In Europe by Major Countries*
*13 Agriculture Tractor Market in UK*
*14 Agriculture Tractor Market in Germany*
*15 Agriculture Tractor Market in France*
*16 Agriculture Tractor Market in Russia*
*17 Agriculture Tractor Market in Italy*
*18 Agriculture Tractor Market In Belgium*
*19 Agriculture Tractor Market in Poland*
*20 Agriculture Tractor Market in Turkey*
*21 Agriculture Tractor Market in the Netherlands*
*22 Agriculture Tractor Market in Spain*
*23 Competitive Landscape*
*24 Key Company Profiles*
24.1 Deere & Company
24.2 CNH Industrial
*25 Other Prominent Vendors*
25.3 Argo Tractors
25.4 Lovol Arbos
25.7 Mahindra & Mahindra
*26 Report Summary*
26.1 Key Takeaways
26.2 Qualitative Summary: Agriculture Tractor Market in Europe
26.3 Quantitative Summary: Agriculture Tractor Market in EuropeFor more information about this report visit https://www.researchandmarkets.com/research/tscclk/european_tractor?w=12
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Related Topics: Tractors Reported by GlobeNewswire 20 minutes ago.
Paul Lawrie says it is "unlikely" he will ever captain Europe's Ryder Cup team but believes Padraig Harrington is a "brilliant appointment".
Reported by BBC News 15 minutes ago.
Paul Lawrie says it is "unlikely" he will ever captain Europe's Ryder Cup team but believes Padraig Harrington is a "brilliant appointment".
Reported by BBC Sport 12 minutes ago.
· *Simon Holden, Goldman Sach's vice chairman for investment banking in Europe, the Middle East, and Africa, has retired from the bank after 18 years.*
· *Holden was one of the key Goldman bankers responsible for covering Japanese technology conglomerate SoftBank. *
Simon Holden, an 18-year veteran of Goldman Sachs' banking division and a key banker responsible for the firm's relationship with Japanese technology conglomerate SoftBank, has retired from the firm.
Holden was most recently the bank's vice chairman for investment banking in Europe, the Middle East and Africa, according to a memo sent late last year and viewed by Business Insider.
He previously served as chief operating officer of the investment banking division.
Prior to that, he served in a variety of senior roles in the bank's technology, media and telecom banking group. He joined Goldman as an executive director in 2000 and became partner in 2006.
Goldman has held a key role advising SoftBank over the last several years, including acting as the lead financial advisor to its $100 billion Vision Fund. The bank also served as the lead underwriter for the initial public offering for SoftBank's Japanese wireless business in December.
Join the conversation about this story » Reported by Business Insider 13 minutes ago.