Based on server count data, the gaming industry in China saw continued momentum in the first quarter of 2011. Server counts for most major games were stable or increased compared to the previous quarter. This suggests the overall Chinese gaming industry may see a rebound in 2011 after some concerns about a slowdown. The report analyzes server count trends for several major gaming companies in China and believes these counts can provide a directional sense of industry health.
The document provides quarterly financial results for several companies. It shows that most companies reported increased sales, profits, and operating profits for the quarter ending September 2011 compared to the same quarter last year. For example, Kajaria Ceramics' sales rose 42.55% and net profit increased 41.89%. Praj Industries also saw significant jumps in its total revenue, net profit, and operating profit. Similarly, most other companies featured reported higher financial figures for the latest quarter compared to the previous year.
- Chana futures prices fell by Rs 26 to Rs 4,726 per quintal due to continued profit-booking by speculators at higher levels.
- Prices of red Chilli and Jeera fell by Rs 100 per quintal due to weak domestic and export demand.
- The daily agri report provides the opening, high, low, closing prices and trends of various commodities such as soybean, chana, jeera, chilli and recommends trading strategies based on technical analysis.
DAILY AGRI REPORT BY EPIC RESEARCH- 1 NOVEMBER 2012Epic Research
Chilli futures prices rose by 1.71% due to strong export and domestic demand coupled with limited supply. Soybean prices are expected to fall as the trend is bearish; traders are advised to sell on rises. Overall, most agricultural commodities traded lower with the exceptions of jeera and wheat which saw modest gains.
Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, NSE Tips, BSE Tips, COMEX Tips, PCG Pack and NCDEX Tips. We provide services in equity, commodity and Forex market.
Chana futures prices rose 1.12% on good demand and restricted arrivals in the physical market. Jeera futures fell by 1.68% as traders booked profits after recent gains, but slow sowing in Gujarat due to low monsoon rains limited the price fall. The report provides the daily opening, high, low, closing and change in prices for various agricultural commodities and futures, along with charts and analysis on Soybean and Chana trends.
Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, NSE Tips, BSE Tips, COMEX Tips, PCG Pack and NCDEX Tips. We provide services in equity, commodity and Forex market.
- Turmeric futures prices fell by Rs 20 per quintal due to profit-taking and higher carry-forward stocks, though lower cultivation area this year limited gains.
- U.S. corn and soybean production took hits in 2012 due to drought, with corn down 13% to 10.8 billion bushels despite record planting acreage.
- The daily agri report provides market statistics and charts for commodities like soybeans, chana, jeera and recommends strategies like buying soybeans on dips.
Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, NSE Tips, BSE Tips, COMEX Tips, PCG Pack and NCDEX Tips. We provide services in equity, commodity and Forex market.
The document provides quarterly financial results for several companies. It shows that most companies reported increased sales, profits, and operating profits for the quarter ending September 2011 compared to the same quarter last year. For example, Kajaria Ceramics' sales rose 42.55% and net profit increased 41.89%. Praj Industries also saw significant jumps in its total revenue, net profit, and operating profit. Similarly, most other companies featured reported higher financial figures for the latest quarter compared to the previous year.
- Chana futures prices fell by Rs 26 to Rs 4,726 per quintal due to continued profit-booking by speculators at higher levels.
- Prices of red Chilli and Jeera fell by Rs 100 per quintal due to weak domestic and export demand.
- The daily agri report provides the opening, high, low, closing prices and trends of various commodities such as soybean, chana, jeera, chilli and recommends trading strategies based on technical analysis.
DAILY AGRI REPORT BY EPIC RESEARCH- 1 NOVEMBER 2012Epic Research
Chilli futures prices rose by 1.71% due to strong export and domestic demand coupled with limited supply. Soybean prices are expected to fall as the trend is bearish; traders are advised to sell on rises. Overall, most agricultural commodities traded lower with the exceptions of jeera and wheat which saw modest gains.
Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, NSE Tips, BSE Tips, COMEX Tips, PCG Pack and NCDEX Tips. We provide services in equity, commodity and Forex market.
Chana futures prices rose 1.12% on good demand and restricted arrivals in the physical market. Jeera futures fell by 1.68% as traders booked profits after recent gains, but slow sowing in Gujarat due to low monsoon rains limited the price fall. The report provides the daily opening, high, low, closing and change in prices for various agricultural commodities and futures, along with charts and analysis on Soybean and Chana trends.
Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, NSE Tips, BSE Tips, COMEX Tips, PCG Pack and NCDEX Tips. We provide services in equity, commodity and Forex market.
- Turmeric futures prices fell by Rs 20 per quintal due to profit-taking and higher carry-forward stocks, though lower cultivation area this year limited gains.
- U.S. corn and soybean production took hits in 2012 due to drought, with corn down 13% to 10.8 billion bushels despite record planting acreage.
- The daily agri report provides market statistics and charts for commodities like soybeans, chana, jeera and recommends strategies like buying soybeans on dips.
Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, NSE Tips, BSE Tips, COMEX Tips, PCG Pack and NCDEX Tips. We provide services in equity, commodity and Forex market.
The daily agri report summarizes developments in commodity markets. Soybeans rose for the third day due to signs of sustained demand from China, the world's largest importer. Wheat and corn prices also climbed. Domestic demand is expected to increase chana prices during the festive season. The report provides opening, high, low, closing and last traded prices for various commodities, and technical analysis indicating some commodities are in a consolidating trend. Charts of soybean and chana prices are also included.
The document provides a daily agri report dated 26th December 2012. It summarizes that soybean futures in South Africa advanced 1% as traders deemed recent declines excessive. It also notes that cardamom prices in India rose due to restricted arrivals and good demand. The report includes closing prices and changes for various agricultural commodities. Charts are provided analyzing the daily trends in soybeans and chana.
- Soybean prices fell to their lowest in almost five months due to slower demand from China and improved crop prospects in South America, while corn prices rose and wheat fell.
- Trading of soybean oil declined due to a lack of buying support in the physical market and weak global cues, despite earlier gains driven by strong foreign markets.
- The report provides the daily opening, high, low, closing, and change in prices for various agricultural commodities, along with charts and analysis of trends for soybeans and chickpeas. It recommends buy and sell strategies for different commodities.
The Knights of Columbus 2011 Investment Review provides information about their investment strategy and performance. They focus on investing in investment grade corporates and agencies across sectors as well as high quality mortgage securities. They avoid risky investments like junk bonds, derivatives, and structured products. Over 2011, their total assets grew to $18 billion with 87.5% in bonds, 2.1% in stocks, and the remainder in real estate and other assets. Their annualized returns over various periods exceeded their peers, with strong credit ratings reflecting their conservative approach.
The document discusses forward-looking statements and risks associated with them. It provides an overview of Atmos Energy, including its scope of operations across 12 states in the utility segment and 22 states in the nonutility segment. It also summarizes Atmos Energy's financial and operational performance over time, including earnings growth, dividend increases, and acquisition history such as the purchase of TXU Gas.
harrah's entertainment DB_HOS_GAM_11_17_05finance25
Gary Loveman is the Chairman, Chief Executive Officer and President of Harrah's Entertainment, Inc. Harrah's is the largest provider of branded casino entertainment with over $8 billion in annual revenues. It has a diverse portfolio of casino properties across the United States and is the only investment-grade gaming company. Harrah's utilizes customer loyalty programs, sophisticated marketing capabilities, and decision science to drive organic growth through increased cross-market visitation and same-store sales. The company has a pipeline of new development projects to further expand its business.
1) The document presents projected financial statements for Abu Capital Ltd from 2000-2005 including income statements, balance sheets, and assumptions.
2) Key projections include annual revenue growth of 9.1-11.1% annually, gross margins around 45%, EBITDA margins around 27%, and net income growth resulting in net margins of 8.2-9.7% over the period.
3) The balance sheet forecasts increasing assets from $1.3 billion to $2.1 billion with property, plant, and equipment as the largest asset, and increasing shareholders' equity from $670 million to $1.2 billion over the period.
DAILY AGRI REPORT BY EPIC RESEARCH- 5 DECEMBER 2012 Epic Research
The daily agri report summarizes commodity market activity for jeera, soybean, and chana. Jeera futures prices recovered due to short-covering and improved spot demand. Soybean prices are consolidating and the trend is viewed as sideways. Chana prices are declining and the trend is considered bearish. The report provides opening, high, low, closing prices and trading strategies for various commodities.
This daily agri report provides market summaries and trading recommendations for various agricultural commodities. Key points include:
- NCDEX has withdrawn special margins on wheat, chickpea and rapeseed as prices have declined.
- Agricultural commodities like soybean and chickpeas saw higher growth in trade values on commodity exchanges in the first half of the fiscal year compared to bullion, but this trend may not continue as agri prices have softened in the past month while gold and silver have risen.
- Daily market statistics and charts are provided for various commodities, along with analysis and strategies such as selling soybean on rises and buying chickpeas on dips.
The document contains two methods for repaying a loan. Method 1 repays the principal of $75 million in full in the 7th period, with interest-only payments for the first 6 periods at 11.5% annually. Method 2 repays $5 million per period plus interest at 13.5% annually over 7 periods, fully repaying the $100 million principal. The total repayment under Method 1 is $135.375 million and under Method 2 is $180.325 million.
Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Currency Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, NSE Tips, BSE Tips, COMEX Tips, PCG Pack NCDEX Tips and Free Stock Tips. We provide services in equity, commodity and Forex market.
This document provides highlights and financial results from Localiza Rent a Car S.A.'s 2006 presentation. Some key points:
1. The company experienced strong growth in 2006 with a 31% increase in average fleet size and 29% revenue growth.
2. Profitability also increased with net income growing 32% and EBITDA margin declining slightly from 32.6% to 27.3%.
3. Localiza continued to invest heavily in expanding its footprint, doubling used car points of sale and increasing rental locations by 24%.
4. The company maintained a consistent spread between return on invested capital and weighted average cost of capital, generating increased economic value added of 29.9% in
National Commodity and Derivatives Exchange (NCDEX) has reduced the special margin requirement to 20% from 40% on long positions of turmeric contracts. Wheat futures are likely to decline further due to expected rise in supplies, softening global prices, and a stronger rupee. Soybean futures look downward trending and bearish, with a strategy to sell on rises. Chana futures look sideways trending and in a consolidation phase, with a strategy to sell on rises.
The document discusses the history and role of the United States Marines. It details some of the major wars Marines have fought in, such as World War II and the Vietnam War. It also lists some of the vehicles and weapons Marines use in combat, including tanks, armored personnel carriers, Humvees, and assault rifles. The document explains that Marines fight to keep their homeland safe and protect their families. It notes that people join the Marines because they are highly respected and want to serve their country, and that boot camp is a challenging 12-week process to become a Marine.
There are three main types of anime: films shown in theaters with the highest budgets and quality, OVAs or original video animations similar to TV miniseries with continuous plotlines across episodes, and TV series of lower quality but with standalone episodes. One of the document's favorite animes is Bleach, about Ichigo who gains soul reaper powers from Rukia to fight hollows. Adult Swim is Cartoon Network's late night programming block featuring more mature animated content.
El documento habla sobre las fracturas de diáfisis femoral. Menciona que son más frecuentes en jóvenes y requieren tratamiento quirúrgico temprano. Describe la clasificación de Winquist para estas fracturas y que el método de tratamiento preferido es el clavo de Kuntscher, un método quirúrgico mínimamente invasivo. Finalmente, identifica posibles complicaciones asociadas con estas fracturas y su tratamiento.
The document provides information about the Access to Language summer language program in 2010, including locations in Boston, San Diego, and Tampa. It offers programs in accommodations, classes consisting of 20 lessons from Monday to Friday, and various extracurricular activities in Tampa, San Diego, and Boston. The duration is packages of 2, 3, or 4 weeks for ages 14 to 18 starting July 4th and ending July 31st. Additional services include private high school placement, college placement, and study abroad programs.
This document discusses the importance of clear communication and proper use of language. It notes that ambiguous or convoluted language can lead to misunderstandings. Politicians in particular may stretch the meaning of words to achieve their goals. The document also provides an example of a letter that has been rearranged to demonstrate how changing the order of words can alter the meaning. It emphasizes that communication requires reception and understanding by the intended audience.
- Embraer delivered 28 commercial jets and sold 17 E-Jets in 3Q11, reaching 1,018 firm orders total. Six additional orders were placed with GECAS in October.
- Revenue was US$3.78 billion year-to-date, with a gross margin of 22.5%. Net income was US$126 million excluding deferred taxes.
- The firm order backlog reached US$16 billion as of 3Q11, and Embraer delivered its 800th E190 jet to China Southern Airlines during the quarter.
The daily agri report summarizes developments in commodity markets. Soybeans rose for the third day due to signs of sustained demand from China, the world's largest importer. Wheat and corn prices also climbed. Domestic demand is expected to increase chana prices during the festive season. The report provides opening, high, low, closing and last traded prices for various commodities, and technical analysis indicating some commodities are in a consolidating trend. Charts of soybean and chana prices are also included.
The document provides a daily agri report dated 26th December 2012. It summarizes that soybean futures in South Africa advanced 1% as traders deemed recent declines excessive. It also notes that cardamom prices in India rose due to restricted arrivals and good demand. The report includes closing prices and changes for various agricultural commodities. Charts are provided analyzing the daily trends in soybeans and chana.
- Soybean prices fell to their lowest in almost five months due to slower demand from China and improved crop prospects in South America, while corn prices rose and wheat fell.
- Trading of soybean oil declined due to a lack of buying support in the physical market and weak global cues, despite earlier gains driven by strong foreign markets.
- The report provides the daily opening, high, low, closing, and change in prices for various agricultural commodities, along with charts and analysis of trends for soybeans and chickpeas. It recommends buy and sell strategies for different commodities.
The Knights of Columbus 2011 Investment Review provides information about their investment strategy and performance. They focus on investing in investment grade corporates and agencies across sectors as well as high quality mortgage securities. They avoid risky investments like junk bonds, derivatives, and structured products. Over 2011, their total assets grew to $18 billion with 87.5% in bonds, 2.1% in stocks, and the remainder in real estate and other assets. Their annualized returns over various periods exceeded their peers, with strong credit ratings reflecting their conservative approach.
The document discusses forward-looking statements and risks associated with them. It provides an overview of Atmos Energy, including its scope of operations across 12 states in the utility segment and 22 states in the nonutility segment. It also summarizes Atmos Energy's financial and operational performance over time, including earnings growth, dividend increases, and acquisition history such as the purchase of TXU Gas.
harrah's entertainment DB_HOS_GAM_11_17_05finance25
Gary Loveman is the Chairman, Chief Executive Officer and President of Harrah's Entertainment, Inc. Harrah's is the largest provider of branded casino entertainment with over $8 billion in annual revenues. It has a diverse portfolio of casino properties across the United States and is the only investment-grade gaming company. Harrah's utilizes customer loyalty programs, sophisticated marketing capabilities, and decision science to drive organic growth through increased cross-market visitation and same-store sales. The company has a pipeline of new development projects to further expand its business.
1) The document presents projected financial statements for Abu Capital Ltd from 2000-2005 including income statements, balance sheets, and assumptions.
2) Key projections include annual revenue growth of 9.1-11.1% annually, gross margins around 45%, EBITDA margins around 27%, and net income growth resulting in net margins of 8.2-9.7% over the period.
3) The balance sheet forecasts increasing assets from $1.3 billion to $2.1 billion with property, plant, and equipment as the largest asset, and increasing shareholders' equity from $670 million to $1.2 billion over the period.
DAILY AGRI REPORT BY EPIC RESEARCH- 5 DECEMBER 2012 Epic Research
The daily agri report summarizes commodity market activity for jeera, soybean, and chana. Jeera futures prices recovered due to short-covering and improved spot demand. Soybean prices are consolidating and the trend is viewed as sideways. Chana prices are declining and the trend is considered bearish. The report provides opening, high, low, closing prices and trading strategies for various commodities.
This daily agri report provides market summaries and trading recommendations for various agricultural commodities. Key points include:
- NCDEX has withdrawn special margins on wheat, chickpea and rapeseed as prices have declined.
- Agricultural commodities like soybean and chickpeas saw higher growth in trade values on commodity exchanges in the first half of the fiscal year compared to bullion, but this trend may not continue as agri prices have softened in the past month while gold and silver have risen.
- Daily market statistics and charts are provided for various commodities, along with analysis and strategies such as selling soybean on rises and buying chickpeas on dips.
The document contains two methods for repaying a loan. Method 1 repays the principal of $75 million in full in the 7th period, with interest-only payments for the first 6 periods at 11.5% annually. Method 2 repays $5 million per period plus interest at 13.5% annually over 7 periods, fully repaying the $100 million principal. The total repayment under Method 1 is $135.375 million and under Method 2 is $180.325 million.
Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Currency Tips, Commodity Tips, MCX Tips, Equity Tips, Tips, Intraday Tips, NSE Tips, BSE Tips, COMEX Tips, PCG Pack NCDEX Tips and Free Stock Tips. We provide services in equity, commodity and Forex market.
This document provides highlights and financial results from Localiza Rent a Car S.A.'s 2006 presentation. Some key points:
1. The company experienced strong growth in 2006 with a 31% increase in average fleet size and 29% revenue growth.
2. Profitability also increased with net income growing 32% and EBITDA margin declining slightly from 32.6% to 27.3%.
3. Localiza continued to invest heavily in expanding its footprint, doubling used car points of sale and increasing rental locations by 24%.
4. The company maintained a consistent spread between return on invested capital and weighted average cost of capital, generating increased economic value added of 29.9% in
National Commodity and Derivatives Exchange (NCDEX) has reduced the special margin requirement to 20% from 40% on long positions of turmeric contracts. Wheat futures are likely to decline further due to expected rise in supplies, softening global prices, and a stronger rupee. Soybean futures look downward trending and bearish, with a strategy to sell on rises. Chana futures look sideways trending and in a consolidation phase, with a strategy to sell on rises.
The document discusses the history and role of the United States Marines. It details some of the major wars Marines have fought in, such as World War II and the Vietnam War. It also lists some of the vehicles and weapons Marines use in combat, including tanks, armored personnel carriers, Humvees, and assault rifles. The document explains that Marines fight to keep their homeland safe and protect their families. It notes that people join the Marines because they are highly respected and want to serve their country, and that boot camp is a challenging 12-week process to become a Marine.
There are three main types of anime: films shown in theaters with the highest budgets and quality, OVAs or original video animations similar to TV miniseries with continuous plotlines across episodes, and TV series of lower quality but with standalone episodes. One of the document's favorite animes is Bleach, about Ichigo who gains soul reaper powers from Rukia to fight hollows. Adult Swim is Cartoon Network's late night programming block featuring more mature animated content.
El documento habla sobre las fracturas de diáfisis femoral. Menciona que son más frecuentes en jóvenes y requieren tratamiento quirúrgico temprano. Describe la clasificación de Winquist para estas fracturas y que el método de tratamiento preferido es el clavo de Kuntscher, un método quirúrgico mínimamente invasivo. Finalmente, identifica posibles complicaciones asociadas con estas fracturas y su tratamiento.
The document provides information about the Access to Language summer language program in 2010, including locations in Boston, San Diego, and Tampa. It offers programs in accommodations, classes consisting of 20 lessons from Monday to Friday, and various extracurricular activities in Tampa, San Diego, and Boston. The duration is packages of 2, 3, or 4 weeks for ages 14 to 18 starting July 4th and ending July 31st. Additional services include private high school placement, college placement, and study abroad programs.
This document discusses the importance of clear communication and proper use of language. It notes that ambiguous or convoluted language can lead to misunderstandings. Politicians in particular may stretch the meaning of words to achieve their goals. The document also provides an example of a letter that has been rearranged to demonstrate how changing the order of words can alter the meaning. It emphasizes that communication requires reception and understanding by the intended audience.
- Embraer delivered 28 commercial jets and sold 17 E-Jets in 3Q11, reaching 1,018 firm orders total. Six additional orders were placed with GECAS in October.
- Revenue was US$3.78 billion year-to-date, with a gross margin of 22.5%. Net income was US$126 million excluding deferred taxes.
- The firm order backlog reached US$16 billion as of 3Q11, and Embraer delivered its 800th E190 jet to China Southern Airlines during the quarter.
The sales and profits of HCL Technologies increased substantially in the second quarter of FY2012 compared to the same period last year. Net profit increased 104% to Rs. 3975.5 million. Operating profit rose 81% to Rs. 5806 million. Petronet LNG also saw significant growth with sales up 75.52% and net profit increasing 98.54% to Rs. 2603.31 million. In contrast, Chennai Petroleum Corporation reported a loss for the quarter, with net profits declining over 300% to Rs. -3002.3 million, compared to a profit of Rs. 1465.2 million in the prior year.
The document contains several charts showing version distribution and release data over time for various software applications and systems. The charts show the percentage of users or hosts on specific versions as well as the number of releases over time, with many following a long tail distribution where older versions persist in significant numbers and newer versions are adopted gradually.
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- Embraer reported financial results for the first quarter of 2011 with revenues of $1.77 billion (R$3.34 billion), a 20.2% gross margin, and net income of $174 million (R$208 million).
- Key orders in the quarter included 20 E-Jets for Alitalia and 10 E-Jets for Dniproavia.
- The firm order backlog reached $16 billion at the end of the quarter, providing visibility for future deliveries.
- Embraer reaffirmed its full year 2011 guidance with expected revenues of $5.6 billion, EBIT of $420 million, and EBITDA of $610 million.
- Embraer reported financial results for the first quarter of 2011 with revenues of $1.77 billion (R$3.34 billion), a 20.2% gross margin, and net income of $174 million (R$208 million).
- Key commercial aircraft orders in the quarter included 20 E-Jets for Alitalia and 10 E-Jets for Dniproavia.
- The firm order backlog reached $16 billion at the end of the quarter, providing visibility for future deliveries.
- Embraer reaffirmed its full year 2011 guidance with expected revenues of $5.6 billion, EBIT of $420 million, and EBITDA of $610 million.
CCR's 2Q06 results showed an 8.8% increase in net operating income compared to 2Q05, reaching R$512.8 million, with the number of electronic toll collection users increasing 25.3% to 599 thousand. Total costs increased 17.5% compared to 2Q05. EBIT decreased 4.8% to R$174.7 million due to factors including traffic, operating costs and financial results. CCR's entrance to the IBOVESPA stock index in March 2006 and prepayment of foreign currency debt were highlighted as subsequent positive events.
The document provides an overview of Tele2 AB's financial performance in Q4 2012. Some key points:
- Tele2 added 0.7 million mobile customers in Q4, reaching a total of 38.2 million customers.
- Net sales grew 6% to SEK 11.275 billion in Q4. EBITDA was SEK 2.672 billion, a 24% margin.
- In Russia, strong customer growth of 373,000 led to a 22.7 million subscriber base. EBITDA margin was stable at 37%.
- In Sweden, mobile service revenue grew 5% despite prepaid decline. EBITDA was SEK 859 million at a 29% margin.
- In
Apresentação Institucional RI - Maio 2012Embraer RI
The document outlines Embraer's corporate and business strategy, product portfolio, financial results, and market outlook. The key points are:
1) Embraer's strategy focuses on organic growth, margin enhancement, diversification, and excellence in customer experience.
2) Their commercial and executive jet deliveries have grown steadily since 2007. Financial revenues have also increased each year.
3) Embraer forecasts over 7,000 new jet deliveries valued at $320 billion in the 30-120 seat market segment through 2030.
4) Their diverse product portfolio spans light executive jets to large commercial aircraft. Over 100 airlines in 48 countries operate E-Jets.
- The company reported financial results for the second quarter of 2011, with revenues of $1.97 billion, a 45 aircraft delivery total, and 62 E-Jets sold.
- Gross margins increased to 24.3%, EBITDA was $197 million with a margin of 12.2%, and net income was $126 million.
- The outlook for 2011 was revised upward, with estimated revenues of $5.8 billion, EBIT of $465 million, EBITDA of $700 million, and margins of 8% and 12% respectively. Research spending was confirmed at $90 million while development was lowered to $160 million.
- The company reported financial results for the second quarter of 2011, with revenues of $1.97 billion, a 45 aircraft delivery total, and 62 firm E-Jet orders.
- Recent highlights included new orders from airlines and leasing companies, customer base expansion, and cooperation agreements.
- The presentation revised full-year 2011 outlook with increased expected revenues to $5.8 billion, EBIT to $465 million, and EBITDA to $700 million. Research spending is projected to remain $90 million while development spending will decrease to $160 million.
Can You Commercialize Your WordPress Plugingarthkoyle
The document discusses commercializing a WordPress plugin. It covers analyzing the market size for plugins, determining an appropriate price point to charge users, and creating a pro forma income statement to estimate profitability. It also provides tips for developing customer support strategies, systems for managing sales and operations, and addressing common issues entrepreneurs may face like marketing, customer satisfaction, and legal structure. The overall presentation provides guidance on evaluating the commercial potential of a WordPress plugin and operating a business around selling plugins.
Apple reported its financial results for the fourth quarter of 2011, with total revenue of $28.27 billion, a 1% sequential increase from the previous quarter and a 39% increase from the same quarter in 2010. iPhone sales increased 16% year-over-year to $11 billion despite a 16% decline in units sold, while iPad sales more than doubled year-over-year to $6.87 billion with over 11 million units sold, a 20% increase from the previous quarter. Overall revenue grew for all operating segments, particularly in Asia Pacific where revenue increased 139% year-over-year.
The document provides quarterly financial results for several companies. For SAIL, total revenue increased marginally in the September 2011 quarter compared to the prior year. Net profit declined 54.62% and operating profit decreased. For Goodyear India, revenue grew 15.82% in the September 2011 quarter while net profit declined 15.77% and operating profit decreased. For Hatsun Agro Products, revenue increased 12.64% in the September 2011 quarter and operating profit grew 46.21% compared to the prior year.
Western Digital reported higher revenue and unit shipments in Q1 FY2008 compared to the same period last year. Revenue increased 40% to $1.77 billion driven by a 7% increase in average selling price and 29% more hard drive units shipped. Gross margin improved to 18.3% from 17.3% a year ago. Total inventory increased significantly to support future demand, leading to lower inventory turns. Capital expenditures also increased substantially to $163 million to expand production capacity.
The document provides information on SNC's performance in various business segments in 2011-2012. It summarizes key financial data on sales, earnings, and ratios for the home appliance and automotive segments. The document also outlines SNC's plans to invest in two new subsidiaries, International Techno Pipe and SNC Creativity Anthology, to expand into manufacturing of home appliance parts and automotive components.
This document provides an overview of People's Bank of Georgia, the largest bank in the country. It discusses the bank's branch and ATM network across Georgia, regional coverage, management structure, retail and corporate banking services, social projects, IT infrastructure, subsidiaries, financial performance, and future plans. People's Bank aims to provide universal banking services throughout Georgia and be the backbone of the country's economy through its extensive branch network and focus on customers.
This document discusses using data visualization in JavaScript. It provides examples of how visualizing sales data from multiple branches over time can reveal patterns that are not obvious from the raw numbers, such as different cities responding differently to price changes. Visualizing utility meter reading data also found evidence of fraud by showing readings clustered at tariff boundaries. Correlating movements in securities can help with diversifying investments and reducing risk.
4Q11 Results
- The company delivered a total of R$326 million in projects in 2011, including 854 units in the Jardim Paradiso project.
- Inventory at market price totaled R$166 million for 1,350 units as of 4Q11, with the majority located in the capital region of Rio de Janeiro.
- The company's land bank consisted of projects totaling over 3 million square meters that could generate R$3.1 billion in potential sales value, with the Cidade Paradiso project representing the largest share.
4Q11 Results
- The company delivered a total of R$326 million in projects in 2011, including 854 units in the Jardim Paradiso project.
- Inventory at market price totaled R$166 million for 1,350 units as of 4Q11, with 89% located in the capital region and metropolitan area of Rio de Janeiro.
- The company's land bank consisted of projects totaling R$3.1 billion in potential sales value across Rio de Janeiro and Sao Paulo states.
Mobile internet market in china leo wangAppLeap Inc.
This document discusses the mobile internet in China. It notes that mobile internet is about connected users rather than just internet on mobile devices. It provides statistics on the growth of mobile internet users and activities in China from 2009-2010. It discusses the roles of various players like telecom carriers, handset makers, and application developers. It argues that application developers are actually dominating the mobile internet industry through thousands of simple applications. It emphasizes that innovation alone is not key - execution is most important. It also discusses some emerging areas like mobile payments and augmented reality. Finally, it provides an overview of PreAngel, a startup accelerator founded by Leo Wang that invests in early-stage mobile internet startups.
The document analyzes download data from various app stores, including the Google Android Market. It finds that in the Android Market, 20% of free apps and 80% of paid apps have been downloaded less than 100 times worldwide. Only two paid Android apps have over 500,000 downloads, while six iPhone apps reach that level in the US alone in two months. The refresh rate of top charts is also higher in the iPhone App Store, with 94 distinct top 10 apps in a month compared to 26 in Android Market.
This document summarizes app store market data from Distimo. It finds that the Google Android Market has surpassed the Apple App Store for iPhone in free apps. By May 2011, Android Market is projected to be the largest store overall. It also notes that Apple iPad's App Store grew significantly in its first year but will soon face competition from BlackBerry and Google tablets. Many top iPad publishers already have apps on other platforms.
The document is an industry report on the Chinese gaming market that provides an analysis of server count data from major gaming companies in China. The report finds a 70% correlation between server counts and user activity numbers reported by companies. Server count checks conducted by the analyst in the first quarter of 2011 suggest continued momentum in the industry, with improved usage across most major games. This indicates the Chinese gaming industry may see a rebound in 2011 from any slowdown concerns, which could boost share prices of gaming companies.
1. April 5, 2011
Industry Report
Think Entertainment: Gaming Reason for Report:
China Gaming: Server Checks Suggest Continued Industry Update
Atul Bagga
Industry Momentum
415-249-6362, abagga@thinkequity.com
THINK SUMMARY:
We believe that server checks could directionally give a good sense to
investors about the games performance in any given period; in our analysis we
found 70% correlation to server count and APA for the four publically listed
gaming companies. Our server checks suggest that Q1 was likely a strong
quarter for most of the games companies in China. Given continued
momentum in the gaming industry, coupled with some of the strong games
launches scheduled for 2011, leads us to believe that the overall Chinese
gaming industry could see a rebound in 2011, which we believe could allay
some investors' concern around an industry slowdown and help drive multiple
expansion for Chinese gaming shares.
KEY POINTS:
• While we acknowledge that server data alone cannot accurately predict the
game performance; our analysis finds approximately 70% correlation of
server count with the usage (APA), and we believe that server data could be
a good directional indicator of the health of games.
• Our server checks suggest that a few of Perfect World's games have made a
healthy comeback in 1Q11 after declining usage in 2H10. Similarly, Shanda's
Legend of Mir 2 and World of Legend seem to have stabilized in 1Q11 after
steep decline in 1H10. ChangYou's TLBB and Giant's ZT series games seem
to have seen stable server growth in 1Q11.
• Valuation multiple on Chinese game shares seem to bake in a lot of
negativity around a potential slowdown in the space and potential
government regulations changes. We like investment in CYOU shares ahead
of the DMD release and in NTES shares driven by, in our view, a strong
pipeline of games.
Please see analyst certification (Reg. AC) and other important disclosures on pages 11-12 of this report.
2. April 5, 2011
Industry Report
While we acknowledge that server count alone may not accurately predict the game usage in a given period, we believe
that server data gives a good sense directionally about the game usage during a given period. Based on our server count
data and the companies’ reported data around APA, we found 70% correlation between the two.
Exhibit 1: Correlation Between APA And Server Count
Q/Q Growth 3Q10 Q/Q Growth 3Q10
GAME PWRD GA CYOU GAME PWRD GA CYOU
APA Growth -5% -11% 4% -6% 2% 10% 13% 3%
Server Count Growth 2% -7% 6% 5% 3% 11% 6% 14%
R2: 47%;
Correlation: 69%
Source: Company reports, ThinkEquity LLC Proprietary Server Checks
We conduct server counts in China every couple of weeks. During 1Q11, the game usages seemed to have improved
across all games. Our checks suggest that a few of Perfect World’s games had what we viewed as a nice rebound in 1Q
after declining usage in 2H10. Likewise, Shanda’s Legend of Mir series and World of Legend usage seem to be stabilizing
as well after a steep decline in 2010. ChangYou’s TLBB and Giant’s ZT Series games seem to have remained stable in
1Q11.
Page 2
5. April 5, 2011
Industry Report
Exhibit 3: Server Count Of Key Games – ChangYou
600
500
400
TLBB
300 Blade Online
ZHYX
200
100
0
Nov-10
Jun-10
Jul-10
Jan-11
Mar-10
Apr-10
May-10
Aug-10
Sep-10
Oct-10
Dec-10
Feb-11
Mar-11
Source: ThinkEquity LLC Proprietary Checks
Exhibit 4: Server Count Of Key Games – Giant Interactive
80
70
60
ZT Online
50 ZT Classic
40 ZT Green
30 ZT2
ZT Green Tencent
20
10
0
Nov-10
Jun-10
Jul-10
Jan-11
Mar-10
Apr-10
May-10
Aug-10
Sep-10
Oct-10
Dec-10
Feb-11
Mar-11
Source: ThinkEquity LLC Proprietary Checks
Page 5
6. April 5, 2011
Industry Report
Exhibit 5: Server Count Of Key Games – NetEase
500
450
400 FWJ
350 WWJ3
300 WWJ2
250 TX2
200 WoW
150 Fly for Fun
100 WWJ Genesis
50
0
Nov-10
Jun-10
Jul-10
Jan-11
Mar-10
Apr-10
May-10
Aug-10
Sep-10
Oct-10
Dec-10
Feb-11
Mar-11
Source: ThinkEquity LLC Proprietary Checks
Exhibit 6: Server Count Of Key Games – Perfect World
140
LOMA
120
Zhu Xian
100 PW2
80 Chi Bi
Foresaken World
60 Fantasy Zhu Xian
40 World of Immortals
Dragon Excalibur
20
Battle of Immortals
0
Nov-10
Jun-10
Jul-10
Jan-11
Mar-10
Apr-10
May-10
Aug-10
Sep-10
Oct-10
Dec-10
Feb-11
Mar-11
Source: ThinkEquity LLC Proprietary Checks
Page 6
7. April 5, 2011
Industry Report
Exhibit 7: Server Count Of Key Games – Shanda Games
300
250
200 Legend of Mir 2
AION
150
Maple Story
100 Dragon Nest
50
0
Nov-10
Jun-10
Jul-10
Jan-11
Mar-10
Apr-10
May-10
Aug-10
Sep-10
Oct-10
Dec-10
Feb-11
Mar-11
Source: ThinkEquity LLC Proprietary Checks
VALUATION
Given what we view as strong server data, we believe that the gaming industry has maintained momentum in 1Q11.
Additionally, we expect industry growth to pick up with the launch of a few highly anticipated games, including DMD, World
of Warcraft Cataclysm, Swordsman Online, among others. On the other hand, Chinese gaming shares trade at a
significant discount to the U.S. gaming and Chinese internet media multiples—Chinese gaming shares trade at an
average 11x PE on 2011E EPS with 37% expected revenue growth in 2011 (7.7x for the shares that trade on U.S.
exchanges, per FactSet data); versus U.S. gaming companies’ shares trading at 12x with a flat revenue growth projection
in 2011; versus Chinese Internet companies’ shares trading at a 35x PE with a 40% revenue growth projection in 2011,
which we believe reflects the negative sentiment toward the gaming shares (see Exhibit 8). We believe that an industry
growth rebound in 2011 could allay some of the investors’ concerns around the growth potential and drive multiple
expansions for the Chinese gaming shares.
Page 7
9. April 5, 2011
Industry Report
VALUATION
Valuation for CYOU Shares
We maintain our Buy rating on CYOU shares, with a $40 price target, based on a 9.1x PE (net of cash) on our 2011E EPS
versus 7.7x average for shares of the peer group. We believe that a premium multiple is appropriate given our view of the
company's strong positioning (strong development capability and strong platform from its association with SOHU).
Valuation for NTES Shares
We maintain our Buy rating on NTES shares with a $55 price target, based on a 14x PE (net of cash) on our 2011 EPS
estimate (versus 7.7x average for the shares of the Chinese gaming peer group, 19x for the diversified Chinese gaming
and Internet group shares, and 35x for the broader Chinese internet and media group shares), which we believe is
appropriate, given what we view as the company's strong pipeline and strong publishing platform.
Valuation for GAME Shares
We are incrementally positive on stabilizing Mir 2 performance and a healthy pipeline, and we reiterate our Buy rating on
GAME shares with a price target of $8, which is based on an approximate 8x PE (net of cash) on our 2011 EPS estimate.
We believe that an 8x multiple (roughly in line with an average multiple of 7.7x for shares of the peer group multiple) is
appropriate given slightly higher risks with existing franchises.
Valuation for GA Shares
We are positive on an investment in GA shares given our view of a stabilizing ZT franchise and maintain our Hold rating
with a price target to $8, which is predicated at a 13x PE on our 2011E EPS of $0.62 (6x PE net of cash) versus 14x for
the peer group (7.7x net of cash). We believe that a small discount to the peer group shares is appropriate given the
company’s dependence on a major franchise.
Valuation for PWRD Shares
We are optimistic about the company's international strategy and the longer-term prospect, given what we believe is a
strong pipeline for 2011/2012—Swordsman Online, Sword Heaven Dragon Saber, Empire of Immortals, Torchlight,
Meteor Online, and a couple unnamed games. We reiterate are Hold rating on PWRD shares with a price target of $24
predicated on a P/E multiple of approximately 8x our 2011E EPS (net of cash), roughly in line with an average 7.7x PE
multiple for shares of companies in the Chinese gaming group, which we believe is appropriate given higher risks related
to disruption in the company's existing franchises.
Valuation for NCTY Shares
Trading below cash (cash in hand at $9.15 per share), NCTY shares may look inexpensive. However, given our view of
the company's relatively weaker positioning in China (no track record of a successful game over the last 12 months and a
relatively weaker pipeline) and potential for more distraction stemming from its global strategy and given our expectation
of cash burn, we base our price target of $4.50 per share on about 50% of the cash in hand.
Page 9
10. April 5, 2011
Industry Report
RISKS TO PRICE TARGETS
• Gaming continues to be a hit-or-miss-driven business, and predicting successful titles versus
unsuccessful titles is extremely difficult. The risk is especially high for the new and unproven IPs, and a
company's reliance on the new IPs and the titles in the established franchises to reach the revenue target opens it
to risk of a revenue miss.
• Macro headwinds and popularity of the used games and free-to-play online games. Given the current macro
headwinds, used games and free-to-play online games create higher substitute competition for video games.
• The industry is dependent on the console cycle; unexpected start of the new console cycle will likely
constrain the revenue growth and affect profitability of gaming vendors.
• Foreign currency exchange risk. These companies generate revenue from international operations, which
exposes the companies to foreign currency exchange risk
Page 10
11. April 5, 2011
Industry Report
COMPANIES MENTIONED IN THIS REPORT:
Company Exchange Symbol Price Rating
Activision Blizzard, Inc. NASDAQ ATVI $11.01 Buy
Amazon.com, Inc. NASDAQ AMZN $182.94 Buy
Apple Inc. NASDAQ AAPL $341.19 Buy
Baidu, Inc. NASDAQ BIDU $143.11 Buy
Changyou.com Limited NASDAQ CYOU $33.42 Buy
Ctrip.com International, Ltd. NASDAQ CTRP $42.84 Buy
Electronic Arts Inc. NASDAQ ERTS $19.69 Buy
Expedia, Inc. NASDAQ EXPE $22.43 Hold
Giant Interactive Group, Inc. NYSE GA $7.38 Hold
Google, Inc. NASDAQ GOOG $587.68 Buy
NetEase.com, Inc. NASDAQ NTES $51.71 Buy
Netflix, Inc. NASDAQ NFLX $244.72 Buy
OpenTable, Inc. NASDAQ OPEN $108.87 Hold
Orbitz Worldwide, Inc. NYSE OWW $3.55 Hold
Perfect World Co., Ltd. NASDAQ PWRD $22.36 Hold
priceline.com Incorporated NASDAQ PCLN $518.59 Buy
Shanda Games NASDAQ GAME $6.32 Buy
Shanda Interactive Entertainment Limited NASDAQ SNDA $43.83 Hold
Shutterfly, Inc. NASDAQ SFLY $50.09 Hold
SINA Corporation NASDAQ SINA $116.56 Hold
Take-Two Interactive Software NASDAQ TTWO $15.10 Buy
The9 Limited NASDAQ NCTY $6.62 Sell
THQ, Inc. NASDAQ THQI $4.48 Hold
Travelzoo Inc. NASDAQ TZOO $76.29 Buy
VistaPrint Ltd. NASDAQ VPRT $52.90 Buy
Yahoo! NASDAQ YHOO $16.87 Buy
Zoo Entertainment, Inc. NASDAQ ZOOG $4.44 Buy
Important Research Disclosures
Analyst Certification
I, Atul Bagga, hereby certify that all of the views expressed in this research report accurately reflect my personal views about the subject
securities and issuers. I also certify that no part of my compensation was, is, or will be directly or indirectly related to the specific
recommendations or views expressed in this research report.
The analyst(s) responsible for preparing this report has/have received compensation based on various factors, including the firm's total
revenues, a portion of which is generated by investment banking activities.
ThinkEquity LLC and/or an affiliate managed or co-managed a public offering of securities for Zoo Entertainment, Inc. in the past 12
months.
ThinkEquity LLC makes a market in Activision Blizzard, Inc., Changyou.com Limited, Electronic Arts Inc., Giant Interactive Group, Inc.,
Shanda Games, The9 Limited, NetEase.com, Inc., Perfect World Co., Ltd., Shanda Interactive Entertainment Limited, THQ, Inc.,
Take-Two Interactive Software, Zoo Entertainment, Inc., Google, Inc., Apple Inc., Baidu, Inc., Ctrip.com International, Ltd., SINA
Corporation, Amazon.com, Inc., Expedia, Inc., OpenTable, Inc., Netflix, Inc., Orbitz Worldwide, Inc., priceline.com Incorporated, Shutterfly,
Inc., Travelzoo Inc., VistaPrint Ltd., and Yahoo! securities; and/or associated persons may sell to or buy from customers on a principal
basis.
ThinkEquity LLC has made affirmative disclosures concerning each of the covered securities mentioned in this report, including analyst
holdings (if any), rating definitions and overall ratings distributions. These disclosures can be found in the most recent complete research
report for each of the respective companies. Reports are available upon request.
Rating Definitions
Page 11
12. April 5, 2011
Industry Report
Effective October 7, 2009, ThinkEquity LLC moved from a four-tier Buy/Accumulate/Source of Funds/Sell rating system to a three-tier
Buy/Hold/Sell system. The new ratings appear in our Distribution of Ratings, Firmwide chart. To request historical information, including
previously published reports or statistical information, please call: 866-288-8206, or write to: Director of Research, ThinkEquity LLC, 600
Montgomery Street, San Francisco, California, 94111.
Buy: ThinkEquity expects the stock to generate positive risk-adjusted returns of more than 10% over the next 12 months. ThinkEquity
recommends initiating or increasing exposure to the stock.
Hold: ThinkEquity expects the stock to generate risk-adjusted returns of +/-10% over the next 12 months. ThinkEquity believes the stock
is fairly valued.
Sell: ThinkEquity expects the stock to generate negative risk-adjusted returns of more than 10% during the next 12 months. ThinkEquity
recommends decreasing exposure to the stock.
Distribution of Ratings, Firmwide
ThinkEquity LLC
IB Serv./Past 12 Mos.
Rating Count Percent Count Percent
BUY [B] 149 66.80 24 16.11
HOLD [H] 72 32.30 0 0.00
SELL [S] 2 0.90 0 0.00
This report does not purport to be a complete statement of all material facts related to any company, industry, or security mentioned. The
information provided, while not guaranteed as to accuracy or completeness, has been obtained from sources believed to be reliable. The
opinions expressed reflect our judgment at this time and are subject to change without notice and may or may not be updated. Past
performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or
implied, is made regarding future performance. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state in which said offer, solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. This research report was originally prepared and distributed to institutional clients
of ThinkEquity LLC. Recipients who are not market professionals or institutional clients of ThinkEquity LLC should seek the advice of their
personal financial advisors before making any investment decisions based on this report. Additional information on the securities
referenced is available upon request. In the event that this is a compendium report (covers more than six ThinkEquity LLC-covered
subject companies), ThinkEquity LLC may choose to provide specific disclosures for the subject companies by reference. To request
more information regarding these disclosures, please call: 866-288-8206, or write to: Director of Research, ThinkEquity LLC, 600
Montgomery Street, San Francisco, California, 94111. Stocks mentioned in this report are not covered by ThinkEquity LLC unless
otherwise mentioned. Member of FINRA and SIPC. Copyright 2011 ThinkEquity LLC, A Panmure Gordon Company
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