This annual report summarizes Arrow Electronics' performance in 2005. Some key details include:
- Arrow is a global provider of electronic components and computer products with over 56,400 employees and 530,000 customers.
- In 2005, Arrow's sales grew to $11.2 billion, up from $10.6 billion in 2004. Net income increased to $253.6 million from $207.5 million.
- Arrow focuses on four strategic pillars - organic sales growth, operational excellence, strengthening its financial position, and building a global team.
- In 2005, Arrow gained market share in every business and expanded its global network to 270 locations in 53 countries and territories.
The document discusses the 2008 results and 2009 plan for an institutional business. Some key points include:
- Excellent top-line growth and solid core earnings were achieved in 2008.
- Premiums, fees and other revenues are projected to increase from $16.5-$16.7 billion in 2008 to $17.3-$17.7 billion in 2009. However, operating earnings are expected to decline slightly to $1.6-$1.66 billion due to lower investment income and expense management.
- The business will focus on maintaining fundamentals, investing in growth opportunities, aggressively managing expenses, and communicating their value proposition in 2009.
sunoco Merrill Lynch Global Energy Mid and Small Cap Conference Presentationfinance6
The document provides an overview of Sunoco's operations and financial performance. It summarizes Sunoco's capital employed across its business segments. It also discusses Sunoco's response to challenging market conditions, including optimizing refining operations and maximizing the value of non-refining businesses. Additionally, it emphasizes maintaining financial flexibility and liquidity.
Public Service Enterprise Group held an investor meeting in Boston on February 13, 2008 to discuss the company's strategic overview and performance. PSEG reported strong earnings growth in 2007 and provided guidance for continued earnings growth in 2008. The company emphasized addressing New Jersey's clean energy goals through initiatives like the Regional Greenhouse Gas Initiative and expanding its nuclear, solar, and peaking generation capacity. Climate change was highlighted as a defining issue that creates both environmental responsibilities and business opportunities for PSEG.
The document summarizes CenterPoint Energy's annual report for shareholders. It discusses the company's solid financial performance in 2007, with operating income growing 13.5% and dividends increasing 13%. It highlights achievements and growth across the company's various energy delivery businesses, including natural gas distribution, interstate pipelines, and field services. It also covers the company's focus on meeting future energy needs through investments in infrastructure, energy efficiency, and renewable energy while creating long-term shareholder value.
Centex Corporation presented at the JP Morgan Basics & Industrials Conference on June 3-4, 2008. In fiscal year 2008, Centex's priorities were to reduce its land position, sell existing homes, reduce unsold inventory, generate cash, and structure itself for future profitability. Centex also discussed trends signaling the bottom of the housing market, steps it was taking to restore profitability, and its strategy for concentrating investments and market share in core regions to improve margins and returns over the long term.
Omnicom reported strong financial results for 1994, with worldwide billings growing 16% and net income increasing 27%. All of Omnicom's major advertising agencies - BBDO Worldwide, DDB Needham, and TBWA - experienced significant new business wins and creative successes. Looking ahead, Omnicom expects continued growth fueled by increased brand building expenditures and an improved global economic environment.
- Starbucks opened 16,680 stores globally in fiscal 2008, including 15,011 internationally, generating $10.4 billion in total revenues, a 10% increase over the previous year [Paragraph 1]
- Components of Starbucks' 2008 revenue included retail (84%), licensing (12%), and foodservice/other (4%). The US accounted for 76% of revenues while international was 20% [Paragraph 3]
- In fiscal 2008, Starbucks focused on coffee, customers, and community by launching new coffee offerings and rewards programs, and emphasizing ethical sourcing and social responsibility through initiatives like Shared Planet [Paragraphs 5-7]
Starbucks had a very successful fiscal year 2007, with revenue reaching $9.4 billion and net earnings of $673 million. However, the company saw slowing customer traffic in U.S. stores. In response, Starbucks' CEO Howard Schultz will lead a transformation of the company to refocus on coffee quality and the customer experience. Plans include improving U.S. stores, expanding internationally, and renewing Starbucks' heritage and innovation. Schultz is confident these steps will ensure long-term success and deliver value for customers, partners, and shareholders.
The document discusses the 2008 results and 2009 plan for an institutional business. Some key points include:
- Excellent top-line growth and solid core earnings were achieved in 2008.
- Premiums, fees and other revenues are projected to increase from $16.5-$16.7 billion in 2008 to $17.3-$17.7 billion in 2009. However, operating earnings are expected to decline slightly to $1.6-$1.66 billion due to lower investment income and expense management.
- The business will focus on maintaining fundamentals, investing in growth opportunities, aggressively managing expenses, and communicating their value proposition in 2009.
sunoco Merrill Lynch Global Energy Mid and Small Cap Conference Presentationfinance6
The document provides an overview of Sunoco's operations and financial performance. It summarizes Sunoco's capital employed across its business segments. It also discusses Sunoco's response to challenging market conditions, including optimizing refining operations and maximizing the value of non-refining businesses. Additionally, it emphasizes maintaining financial flexibility and liquidity.
Public Service Enterprise Group held an investor meeting in Boston on February 13, 2008 to discuss the company's strategic overview and performance. PSEG reported strong earnings growth in 2007 and provided guidance for continued earnings growth in 2008. The company emphasized addressing New Jersey's clean energy goals through initiatives like the Regional Greenhouse Gas Initiative and expanding its nuclear, solar, and peaking generation capacity. Climate change was highlighted as a defining issue that creates both environmental responsibilities and business opportunities for PSEG.
The document summarizes CenterPoint Energy's annual report for shareholders. It discusses the company's solid financial performance in 2007, with operating income growing 13.5% and dividends increasing 13%. It highlights achievements and growth across the company's various energy delivery businesses, including natural gas distribution, interstate pipelines, and field services. It also covers the company's focus on meeting future energy needs through investments in infrastructure, energy efficiency, and renewable energy while creating long-term shareholder value.
Centex Corporation presented at the JP Morgan Basics & Industrials Conference on June 3-4, 2008. In fiscal year 2008, Centex's priorities were to reduce its land position, sell existing homes, reduce unsold inventory, generate cash, and structure itself for future profitability. Centex also discussed trends signaling the bottom of the housing market, steps it was taking to restore profitability, and its strategy for concentrating investments and market share in core regions to improve margins and returns over the long term.
Omnicom reported strong financial results for 1994, with worldwide billings growing 16% and net income increasing 27%. All of Omnicom's major advertising agencies - BBDO Worldwide, DDB Needham, and TBWA - experienced significant new business wins and creative successes. Looking ahead, Omnicom expects continued growth fueled by increased brand building expenditures and an improved global economic environment.
- Starbucks opened 16,680 stores globally in fiscal 2008, including 15,011 internationally, generating $10.4 billion in total revenues, a 10% increase over the previous year [Paragraph 1]
- Components of Starbucks' 2008 revenue included retail (84%), licensing (12%), and foodservice/other (4%). The US accounted for 76% of revenues while international was 20% [Paragraph 3]
- In fiscal 2008, Starbucks focused on coffee, customers, and community by launching new coffee offerings and rewards programs, and emphasizing ethical sourcing and social responsibility through initiatives like Shared Planet [Paragraphs 5-7]
Starbucks had a very successful fiscal year 2007, with revenue reaching $9.4 billion and net earnings of $673 million. However, the company saw slowing customer traffic in U.S. stores. In response, Starbucks' CEO Howard Schultz will lead a transformation of the company to refocus on coffee quality and the customer experience. Plans include improving U.S. stores, expanding internationally, and renewing Starbucks' heritage and innovation. Schultz is confident these steps will ensure long-term success and deliver value for customers, partners, and shareholders.
The document summarizes an analyst day presentation for Cummins' Components Segment. It includes an agenda for the day's presentations and discussions on the company's turbo technologies, fuel systems, filtration, and emission solutions business units. It provides overviews of each business unit, highlighting their technology leadership, growth opportunities in emerging markets and through new products, and prospects for improving financial performance and earnings growth.
ARC Resources - February 2013 Investor PresentationARC Resources
ARC Resources provides an investor presentation detailing its oil and gas reserves, production growth, and financial performance. Some key points include:
- ARC's proved plus probable reserves totaled 607 million barrels of oil equivalent as of December 31, 2012.
- Between 2012 and 1997, ARC grew its proved plus probable reserves at a compound annual growth rate of 18%.
- ARC replaced over 200% of its 2012 production at a finding and development cost of $9.34 per barrel of oil equivalent.
This document is Parker Hannifin Corporation's 2002 Annual Report. The summary provides an overview of Parker's financial performance for fiscal years 2002, 2001, and 2000. It also discusses Parker's strategies to improve customer service, accelerate financial performance, and drive profitable growth. Parker aims to be the leading provider of motion and control systems through innovation, strategic acquisitions, and developing new markets.
Apresentação do Presidente, José Sergio Gabrielli de Azevedo, na Câmara de Co...Petrobras
The summary includes:
1. Petrobras' planned investments of US$174.4 billion from 2009-2013, with over 40% allocated to exploration and production.
2. Goals to increase domestic oil and gas production significantly by 2013 and 2020 through development of pre-salt reservoirs and international operations.
3. Plans to substantially increase local content in equipment and services from 57% in 2003 to 75% by emphasizing development of Brazilian suppliers.
For the six months ended 31 December 2011:
- Revenue decreased 25% to $252.4 million due to lower volumes, prices and sales adjustments. Mine EBITDA decreased 69% to $29 million.
- A $91.2 million non-cash foreign exchange loss resulted in a net loss of $113.5 million.
- Group attributable PGM production decreased 14% to 215,453 ounces. Operations faced challenges including safety stoppages, support installation issues, and industrial action. Costs increased substantially at Kroondal and Marikana due to lower production.
- Mimosa continued strong performance while Everest and tailings operations faced cost pressures and negative margins. The interim results reflect a challenging
United Health Group Financial Performance at a Glancefinance3
This document provides an overview of the financial performance of UnitedHealth Group for 2004, 2003, and 2002. Revenues increased to $37.2 billion in 2004 from $28.8 billion in 2003. Earnings from operations grew to $4.1 billion from $2.9 billion. Net earnings increased to $2.6 billion from $1.8 billion. All four of the company's business segments saw increases in revenues and earnings from operations over the periods shown. Cash flows from operating activities rose to $4.1 billion in 2004 from $3 billion in 2003.
Detour Gold Corporation presents information on its Detour Lake gold mine in Canada. Detour Lake is described as Canada's largest pure gold play, with 15.6 million ounces of reserves and an average annual production of 657,000 ounces over a 21.5 year mine life. The presentation provides details on the mine plan, processing facilities, tailings management, and financial analysis, with commercial production expected to begin in Q1 2013.
1) The document discusses 3M's strategy for growth through customer value enhancement, continued commitment to operational excellence, and plans to drive higher earnings.
2) 3M aims to grow its core business, pursue complementary acquisitions, build new businesses through adjacencies and emerging business opportunities, and focus on international growth.
3) Near term actions to drive growth include capital investments in core manufacturing capacity expansions, 2006 acquisitions mostly of small companies, and a manufacturing strategy focused on strategic needs in the core or near adjacencies through bolt-on acquisitions.
XTO Energy had a successful 2001, exceeding expectations with record cash flow of $4.49 per share, daily gas production growth of 21%, and proved reserves growth of 19% to 2.68 trillion cubic feet equivalent. The company deployed $395 million in development expenditures to grow production and reserves organically while also acquiring new properties. XTO Energy is well positioned for continued growth and strong returns in 2002 with over 1.5 trillion cubic feet equivalent of potential future reserves and a visible path to exceptional growth.
GE- Goldman Sachs Fourth Annual Alternative Energy Conference Manya Mohan
This document provides a summary of Goldman Sachs' ecomagination initiative to reduce greenhouse gas emissions and drive innovation in environmental technologies. It outlines Goldman's goals to grow low-carbon revenues to $25 billion by 2010, double research spending to $1.5 billion, and reduce greenhouse gas emissions 1% annually. The document highlights several low-carbon technologies Goldman is developing, such as more efficient aircraft engines, wind turbines, LED lighting, and energy storage batteries. It also discusses partnerships to implement smart grid and renewable energy projects.
- Alltel Corporation completed the spin-off of its wireline business and merger with Valor Communications in July 2006, focusing the company solely on wireless services.
- Alltel agreed to divest certain wireless operations in Minnesota and in markets in Arkansas, Kansas, and Nebraska as a condition of regulatory approval for acquisitions.
- For the first half of 2007, Alltel reported service revenues of $3.85 billion, operating income of $866 million, and net income of $486 million.
The document provides a summary of Citigroup's financial results for the third quarter of 2011. Key points include:
- Net credit losses declined 41% year-over-year as credit trends continued to improve. Loan loss reserves remained high at $32.1 billion or 5.1% of total loans.
- Citigroup maintained a strong capital base with a Tier 1 Common ratio of 11.7% and ample liquidity resources of $300 billion.
- Holdings now represents 15% of Citigroup's balance sheet as the wind down continued, while Citicorp saw total loans increase 13% year-over-year with continued investments in its core businesses.
1) ROCKWOOL International reported financial results for the first 9 months of 2012, with net sales increasing 8% to DKK 10.7 billion and EBIT rising 42% to DKK 814 million compared to the same period in 2011.
2) For the full year 2012, the company expects net sales to increase 6% and profit after minority interests to be at least DKK 700 million.
3) Thomas Kähler will not stand for re-election as Chairman of the Board in April 2013 after serving as Chairman since 2004 and on the Board since 1977.
CenterPoint Energy's annual report summarizes its performance in 2006. The company reported $432 million in net income and delivered strong returns for shareholders. It operates electric transmission and distribution utilities serving millions, as well as natural gas distribution, interstate pipelines, field services, and competitive gas sales businesses across several states. In 2006 it invested in infrastructure and pursued rate agreements to support future growth and regulatory certainty across its diverse energy delivery operations.
HMS Group is a leading pump manufacturer and provider of flow control solutions in Russia and the CIS (Commonwealth of Independent States). It was founded in 1993 and has since grown organically and through acquisitions to become a vertically integrated provider serving the oil and gas, power generation, and water utility sectors. In 2011, HMS Group completed an IPO on the London Stock Exchange, raising $360 million and achieving a post-IPO valuation of $967 million.
The document provides guidance for the company's 2008 financial year. It summarizes the company's accomplishments in 2007, including reducing debt by over $2.5 billion. It outlines the company's assumptions for 2008 including natural gas and oil hedge positions. The document discusses the company's 2008 capital program and core earnings and cash flow estimates, forecasting net income between $760-835 million and discretionary cash between $235-450 million. It also summarizes the pipeline business unit's accomplishments in 2007 and growth backlog increasing to $3 billion.
Arrow Electronics had a record year in 2006 with $13.6 billion in sales, a nearly 22% increase over 2005. Some key highlights included operating income increasing nearly 27% to $622 million and net income per share of $2.92 compared to $2.18 in 2005. The company continued to expand its global electronic components and enterprise computing solutions businesses.
Ecolab is a leading global provider of cleaning, sanitizing, pest elimination, maintenance and repair products and services. It operates in over 40 countries directly and serves customers in over 100 countries total. Ecolab's common stock is publicly traded on the NYSE and Pacific Exchange. The document provides an overview of Ecolab's business descriptions, financial highlights for 2000-1999 including net sales, income from continuing operations, diluted income per share, and dividends declared per share. It also includes graphs showing trends in these financial metrics from 1996-2000.
- AREVA presented its 2008 annual results, reporting revenue growth of 10.4% but a decline in net income due to provisions for the Olkiluoto-3 nuclear project.
- Key highlights included a 21.1% increase in backlog to €48.2 billion and the signing of over €10 billion in new contracts.
- While divisions such as Front End and Reactors & Services saw increased revenue and profits, earnings were hurt by higher OL3 provisions and losses in other areas.
- The company outlined its strategic priorities of growing its business while maintaining financial strength through cost reductions and asset sales.
Arrow Electronics had a record year in 2007, with sales of $16 billion, an 18% increase over 2006. Productivity among employees also rose 11%. The company continues to invest in growing both its Global Components and Enterprise Computing Solutions businesses. It aims to drive industry-leading performance while also investing for long-term growth. Arrow is transforming its systems to operate more efficiently on a global scale through an ERP initiative.
This document provides an earnings report for Northrop Grumman Corporation for Q2 2008. It includes highlights from the CEO on sales growth, earnings per share, share repurchases, backlog, and new business awards. The COO highlights provide program updates, including milestones for the LHD-8 amphibious assault ship. Sales and operating margin rates are presented for each business segment for Q2 2008 and full year 2008 estimates. Cash flow details and the company's 2008 outlook are also summarized, along with definitions of non-GAAP financial measures used in the presentation.
This document provides an earnings summary and outlook for Northrop Grumman Corporation for Q2 2008. It discusses 10% sales growth and 10% growth in fully diluted EPS. The backlog is $67B and new business awards total $7.5B year-to-date. Program updates are provided for LHD-8 and sales, operating margins, cash flows, and 2008 outlook are presented. Non-GAAP measures are also defined.
The document summarizes an analyst day presentation for Cummins' Components Segment. It includes an agenda for the day's presentations and discussions on the company's turbo technologies, fuel systems, filtration, and emission solutions business units. It provides overviews of each business unit, highlighting their technology leadership, growth opportunities in emerging markets and through new products, and prospects for improving financial performance and earnings growth.
ARC Resources - February 2013 Investor PresentationARC Resources
ARC Resources provides an investor presentation detailing its oil and gas reserves, production growth, and financial performance. Some key points include:
- ARC's proved plus probable reserves totaled 607 million barrels of oil equivalent as of December 31, 2012.
- Between 2012 and 1997, ARC grew its proved plus probable reserves at a compound annual growth rate of 18%.
- ARC replaced over 200% of its 2012 production at a finding and development cost of $9.34 per barrel of oil equivalent.
This document is Parker Hannifin Corporation's 2002 Annual Report. The summary provides an overview of Parker's financial performance for fiscal years 2002, 2001, and 2000. It also discusses Parker's strategies to improve customer service, accelerate financial performance, and drive profitable growth. Parker aims to be the leading provider of motion and control systems through innovation, strategic acquisitions, and developing new markets.
Apresentação do Presidente, José Sergio Gabrielli de Azevedo, na Câmara de Co...Petrobras
The summary includes:
1. Petrobras' planned investments of US$174.4 billion from 2009-2013, with over 40% allocated to exploration and production.
2. Goals to increase domestic oil and gas production significantly by 2013 and 2020 through development of pre-salt reservoirs and international operations.
3. Plans to substantially increase local content in equipment and services from 57% in 2003 to 75% by emphasizing development of Brazilian suppliers.
For the six months ended 31 December 2011:
- Revenue decreased 25% to $252.4 million due to lower volumes, prices and sales adjustments. Mine EBITDA decreased 69% to $29 million.
- A $91.2 million non-cash foreign exchange loss resulted in a net loss of $113.5 million.
- Group attributable PGM production decreased 14% to 215,453 ounces. Operations faced challenges including safety stoppages, support installation issues, and industrial action. Costs increased substantially at Kroondal and Marikana due to lower production.
- Mimosa continued strong performance while Everest and tailings operations faced cost pressures and negative margins. The interim results reflect a challenging
United Health Group Financial Performance at a Glancefinance3
This document provides an overview of the financial performance of UnitedHealth Group for 2004, 2003, and 2002. Revenues increased to $37.2 billion in 2004 from $28.8 billion in 2003. Earnings from operations grew to $4.1 billion from $2.9 billion. Net earnings increased to $2.6 billion from $1.8 billion. All four of the company's business segments saw increases in revenues and earnings from operations over the periods shown. Cash flows from operating activities rose to $4.1 billion in 2004 from $3 billion in 2003.
Detour Gold Corporation presents information on its Detour Lake gold mine in Canada. Detour Lake is described as Canada's largest pure gold play, with 15.6 million ounces of reserves and an average annual production of 657,000 ounces over a 21.5 year mine life. The presentation provides details on the mine plan, processing facilities, tailings management, and financial analysis, with commercial production expected to begin in Q1 2013.
1) The document discusses 3M's strategy for growth through customer value enhancement, continued commitment to operational excellence, and plans to drive higher earnings.
2) 3M aims to grow its core business, pursue complementary acquisitions, build new businesses through adjacencies and emerging business opportunities, and focus on international growth.
3) Near term actions to drive growth include capital investments in core manufacturing capacity expansions, 2006 acquisitions mostly of small companies, and a manufacturing strategy focused on strategic needs in the core or near adjacencies through bolt-on acquisitions.
XTO Energy had a successful 2001, exceeding expectations with record cash flow of $4.49 per share, daily gas production growth of 21%, and proved reserves growth of 19% to 2.68 trillion cubic feet equivalent. The company deployed $395 million in development expenditures to grow production and reserves organically while also acquiring new properties. XTO Energy is well positioned for continued growth and strong returns in 2002 with over 1.5 trillion cubic feet equivalent of potential future reserves and a visible path to exceptional growth.
GE- Goldman Sachs Fourth Annual Alternative Energy Conference Manya Mohan
This document provides a summary of Goldman Sachs' ecomagination initiative to reduce greenhouse gas emissions and drive innovation in environmental technologies. It outlines Goldman's goals to grow low-carbon revenues to $25 billion by 2010, double research spending to $1.5 billion, and reduce greenhouse gas emissions 1% annually. The document highlights several low-carbon technologies Goldman is developing, such as more efficient aircraft engines, wind turbines, LED lighting, and energy storage batteries. It also discusses partnerships to implement smart grid and renewable energy projects.
- Alltel Corporation completed the spin-off of its wireline business and merger with Valor Communications in July 2006, focusing the company solely on wireless services.
- Alltel agreed to divest certain wireless operations in Minnesota and in markets in Arkansas, Kansas, and Nebraska as a condition of regulatory approval for acquisitions.
- For the first half of 2007, Alltel reported service revenues of $3.85 billion, operating income of $866 million, and net income of $486 million.
The document provides a summary of Citigroup's financial results for the third quarter of 2011. Key points include:
- Net credit losses declined 41% year-over-year as credit trends continued to improve. Loan loss reserves remained high at $32.1 billion or 5.1% of total loans.
- Citigroup maintained a strong capital base with a Tier 1 Common ratio of 11.7% and ample liquidity resources of $300 billion.
- Holdings now represents 15% of Citigroup's balance sheet as the wind down continued, while Citicorp saw total loans increase 13% year-over-year with continued investments in its core businesses.
1) ROCKWOOL International reported financial results for the first 9 months of 2012, with net sales increasing 8% to DKK 10.7 billion and EBIT rising 42% to DKK 814 million compared to the same period in 2011.
2) For the full year 2012, the company expects net sales to increase 6% and profit after minority interests to be at least DKK 700 million.
3) Thomas Kähler will not stand for re-election as Chairman of the Board in April 2013 after serving as Chairman since 2004 and on the Board since 1977.
CenterPoint Energy's annual report summarizes its performance in 2006. The company reported $432 million in net income and delivered strong returns for shareholders. It operates electric transmission and distribution utilities serving millions, as well as natural gas distribution, interstate pipelines, field services, and competitive gas sales businesses across several states. In 2006 it invested in infrastructure and pursued rate agreements to support future growth and regulatory certainty across its diverse energy delivery operations.
HMS Group is a leading pump manufacturer and provider of flow control solutions in Russia and the CIS (Commonwealth of Independent States). It was founded in 1993 and has since grown organically and through acquisitions to become a vertically integrated provider serving the oil and gas, power generation, and water utility sectors. In 2011, HMS Group completed an IPO on the London Stock Exchange, raising $360 million and achieving a post-IPO valuation of $967 million.
The document provides guidance for the company's 2008 financial year. It summarizes the company's accomplishments in 2007, including reducing debt by over $2.5 billion. It outlines the company's assumptions for 2008 including natural gas and oil hedge positions. The document discusses the company's 2008 capital program and core earnings and cash flow estimates, forecasting net income between $760-835 million and discretionary cash between $235-450 million. It also summarizes the pipeline business unit's accomplishments in 2007 and growth backlog increasing to $3 billion.
Arrow Electronics had a record year in 2006 with $13.6 billion in sales, a nearly 22% increase over 2005. Some key highlights included operating income increasing nearly 27% to $622 million and net income per share of $2.92 compared to $2.18 in 2005. The company continued to expand its global electronic components and enterprise computing solutions businesses.
Ecolab is a leading global provider of cleaning, sanitizing, pest elimination, maintenance and repair products and services. It operates in over 40 countries directly and serves customers in over 100 countries total. Ecolab's common stock is publicly traded on the NYSE and Pacific Exchange. The document provides an overview of Ecolab's business descriptions, financial highlights for 2000-1999 including net sales, income from continuing operations, diluted income per share, and dividends declared per share. It also includes graphs showing trends in these financial metrics from 1996-2000.
- AREVA presented its 2008 annual results, reporting revenue growth of 10.4% but a decline in net income due to provisions for the Olkiluoto-3 nuclear project.
- Key highlights included a 21.1% increase in backlog to €48.2 billion and the signing of over €10 billion in new contracts.
- While divisions such as Front End and Reactors & Services saw increased revenue and profits, earnings were hurt by higher OL3 provisions and losses in other areas.
- The company outlined its strategic priorities of growing its business while maintaining financial strength through cost reductions and asset sales.
Arrow Electronics had a record year in 2007, with sales of $16 billion, an 18% increase over 2006. Productivity among employees also rose 11%. The company continues to invest in growing both its Global Components and Enterprise Computing Solutions businesses. It aims to drive industry-leading performance while also investing for long-term growth. Arrow is transforming its systems to operate more efficiently on a global scale through an ERP initiative.
This document provides an earnings report for Northrop Grumman Corporation for Q2 2008. It includes highlights from the CEO on sales growth, earnings per share, share repurchases, backlog, and new business awards. The COO highlights provide program updates, including milestones for the LHD-8 amphibious assault ship. Sales and operating margin rates are presented for each business segment for Q2 2008 and full year 2008 estimates. Cash flow details and the company's 2008 outlook are also summarized, along with definitions of non-GAAP financial measures used in the presentation.
This document provides an earnings summary and outlook for Northrop Grumman Corporation for Q2 2008. It discusses 10% sales growth and 10% growth in fully diluted EPS. The backlog is $67B and new business awards total $7.5B year-to-date. Program updates are provided for LHD-8 and sales, operating margins, cash flows, and 2008 outlook are presented. Non-GAAP measures are also defined.
Deutsche bank 8th annual russia one on-one conference, лондонevraz_company
This document provides an overview of EVRAZ Group, a world-class steel and mining company. Some key points:
- EVRAZ is one of the largest steel producers globally and a leader in markets like Russia, CIS, Europe, and North America.
- In 2009, EVRAZ produced over 15 million tons of crude steel and over 14 million tons of rolled steel products.
- EVRAZ has implemented cost-cutting measures and production optimizations to maintain its low-cost position. This has helped stabilize operations during the economic crisis.
- The mining segment has remained EBITDA positive due to self-sufficiency in raw materials and benefitting from higher iron ore and coal prices.
The document is a presentation by Tim Solso, Chairman and CEO of Cummins, at Baird's 2005 Industrial Conference. It summarizes Cummins' financial performance and commitments, including exceeding targets for revenue growth, EBIT margin, capital expenditures, debt ratios, and returns. It outlines strategies to increase profitability, reduce debt, invest in growth areas, and create shareholder value. Cummins is well positioned for future growth in emerging markets like China and India. The presentation also discusses strategies for heavy duty engines, components and distribution businesses, and preparations for 2007 emissions regulations.
The document is a presentation by Tim Solso, Chairman and CEO of Cummins, at Baird's 2005 Industrial Conference. It summarizes Cummins' financial performance and commitments, including exceeding targets for revenue growth, EBIT margin, capital expenditures, debt ratios, and returns. It outlines strategies to increase profitability, reduce debt, invest in growth, and create shareholder value. Key markets like North America heavy-duty trucks and emerging markets are growing significantly. Cummins is well-positioned for future emissions regulations and global trends.
Mohawk Industries is one of the world's leading flooring companies. It produces a full line of flooring products including carpet, rugs, ceramic tile, laminate, stone, wood, resilient and carpet cushion. In 2007, Mohawk acquired Columbia Flooring and its hardwood flooring plants, expanding Mohawk's capabilities in that category. While the US flooring industry faced challenges in 2007 from a slowing housing market, high material costs and energy prices, Mohawk delivered solid financial results including $7.6 billion in net sales and $706.8 million in net earnings through its diverse product portfolio and business segments. Mohawk continued investing in its brands and production capabilities to position itself for long-term growth despite
Mohawk Industries is one of the world's leading flooring companies. It produces a full line of flooring products including carpet, rugs, ceramic tile, laminate, stone, wood, resilient and carpet cushion. In 2007, Mohawk acquired Columbia Flooring and its hardwood flooring plants, expanding Mohawk's capabilities in that category. While the US flooring industry faced challenges in 2007 from a slowing housing market, high material costs and energy prices, Mohawk delivered solid financial results including $7.6 billion in net sales and $706.8 million in net earnings through its diverse product portfolio and operations in both North America and Europe. Mohawk aims to maintain investments in its brands and pursue further expansion opportunities
This document is Jacobs' 2001 annual report. It summarizes that Jacobs had record revenues of $4 billion and net income of $87.8 million in 2001. It also had a backlog of $5.9 billion, up $500 million from 2000. The report discusses Jacobs' strategic acquisitions in Europe that expanded its international operations and discusses its commitment to safety and satisfied clients.
This document is Jacobs' 2001 annual report. It summarizes that in 2001 Jacobs set new records for revenue ($4 billion) and net income ($87.8 million). It also achieved a backlog of $5.9 billion, an increase of $500 million over 2000. The report discusses Jacobs' strategic acquisitions that expanded its international operations in Europe and Canada. It emphasizes Jacobs' commitment to safety and high client satisfaction. Finally, it expresses confidence that Jacobs' business model and core values will allow it to continue prospering in an uncertain economic climate.
The document provides highlights from Rohm and Haas' 2002 annual report. It discusses Rohm and Haas' positive working relationship with Jacobs that has enabled fast-track projects around the world. It also provides selected financial highlights showing increases in revenues, net earnings, assets, and backlog from 2000 to 2002. The report discusses the company's strategic growth through acquisitions, integration of acquired companies, and debt reduction. Market conditions and outlook are also summarized for various industries.
The document provides highlights from Rohm and Haas' 2002 annual report. It summarizes that Rohm and Haas achieved record revenues of $4.6 billion and record net income of $109.7 million in fiscal year 2002, an increase over 2001. Total backlog also increased from $5.9 billion in 2001 to $6.7 billion in 2002. The company focused on debt reduction after several acquisitions. Markets like refining, buildings and infrastructure, federal programs and pharmaceuticals were active in 2002 and projected to continue growing. The annual report discusses the company's strategic growth, market climate, client satisfaction, safety performance, leadership and growing client relationships.
Tim Solso, Chairman and CEO of Cummins, presented at Citigroup's 19th Annual Global Industrial Manufacturing Conference. Over the past several years, Cummins has delivered on its financial commitments, growing revenue significantly above targets and improving margins and returns. Moving forward, Cummins aims to further increase profitability, reduce debt, invest in growth opportunities, and deliver increased shareholder value.
Tim Solso, Chairman and CEO of Cummins, presented at Citigroup's 19th Annual Global Industrial Manufacturing Conference. Over the past several years, Cummins has delivered on its financial commitments, growing revenue significantly above targets and improving margins and returns. Moving forward, Cummins aims to further increase profitability, reduce debt, invest in growth opportunities, and deliver shareholder value through dividends and share repurchases. Cummins is well positioned for future success, especially in emerging markets like China and India, despite challenges like emissions regulations.
The 2001 annual report discusses Group 1 Automotive's record financial and operational results for the year. Revenues increased 11% to over $3.9 billion while earnings per share grew 38% to $2.59. The company benefited from a diversified revenue mix, with 40% of revenues and 85% of profits coming from areas other than new vehicle sales. Going forward, Group 1 plans to pursue additional acquisitions to take advantage of opportunities in the automotive retailing industry.
Alterra Power Corporation presents information on its renewable energy assets and growth plans. Alterra currently owns and manages over 500 MW of renewable energy capacity across wind, hydro, and geothermal power in Canada and Iceland. The company aims to almost double its EBITDA by 2015 through expanding its existing facilities and developing new projects. Alterra provides details on its operating assets, development pipeline, growth strategy, and leadership team to position itself as a leading renewable energy company.
Ecolab is a leading global developer and marketer of cleaning, sanitizing, and maintenance products and services. It serves customers in over 160 countries and employs over 20,000 associates worldwide. Ecolab sells products through its large direct sales force and assists customers in meeting their cleaning and sanitation needs. In 2002, Ecolab's net sales increased 47% to $3.4 billion and net income increased 11% to $209.8 million.
Similar to arrow electronics annual reports 2005 (20)
This document provides consolidated financial highlights for Burlington Northern Santa Fe Corporation for the years 1991-1995. Some key points:
- Revenues grew from $4.559 billion in 1991 to $6.183 billion in 1995. Operating income improved from a loss of $239 million in 1991 to income of $526 million in 1995, excluding unusual merger-related charges.
- Net income was $92 million in 1995 but would have been $416 million without accounting changes and debt retirement costs related to the merger.
- Capital expenditures were $1.042 billion in 1995 and are planned to be nearly $1.7 billion in 1996 to support revenue growth and cost reduction initiatives.
This document summarizes the financial performance of Burlington Northern Santa Fe Corporation for the years 1992-1996. It reports that in 1996:
- Operating income increased 14% to $1.75 billion compared to 1995 on a comparable basis.
- Revenues reached $8.19 billion despite a drop in agricultural commodities revenues.
- Operating expenses were $178 million below 1995 levels, lowering the operating ratio to 78.6%.
- Net income grew 21% to $889 million, or $5.70 per share, compared to $733 million in 1995.
This annual report summarizes Burlington Northern Santa Fe Corporation's financial and operational performance in 1998. Some key highlights include:
- Revenues reached a record $8.94 billion, a 6.8% increase over 1997.
- Adjusted operating income grew 16% to a record $2.16 billion.
- Adjusted net income exceeded $1.12 billion, a 19% improvement over 1997.
- The operating ratio improved to 75.9%, nearly 2 points better than 1997's adjusted ratio.
- Safety continued to improve, with reductions in reportable injuries and rail accidents.
Burlington Northern Santa Fe Corporation's 1999 Annual Report summarizes the company's performance in 1999 and compares it to 1994, the year before the BNSF merger. Key points:
1) BNSF achieved record results in safety, customer service, efficiency and financial performance in 1999 compared to 1994.
2) Safety metrics like lost workdays and injuries dropped significantly. Customer service improved with 91% on-time performance. Operating expenses per ton-mile dropped 20-25%.
3) Financial results were also much stronger, with operating income reaching a record $2.24 billion, up 14% annually from 1994. The operating ratio improved 9 points to 75.4%.
Burlington Northern Santa Fe Corporation's 2000 Annual Report summarizes the company's performance for the year. Key points include:
- Revenues grew to $9.2 billion while operating expenses only increased 1% despite a $230 million rise in fuel costs.
- Intermodal revenues increased 6% to a record level while safety and efficiency improvements were made.
- However, weak coal demand, high fuel prices, and a slow US economy impacted results for the year.
- Over the past five years since the Burlington Northern and Santa Fe merger, significant progress has been made in safety, service, efficiency and financials.
This document is the 2001 Annual Report to Shareholders for Burlington Northern Santa Fe Corporation. It contains the following key information:
1) The CEO discusses BNSF's progress on its strategic priorities of People, Growth, Ease of Doing Business, Service, and Efficiency in 2001, noting challenges from the economic slowdown but some record achievements.
2) Safety improvements were made but injuries remained level, while discussions progressed with unions on safety agreements.
3) Revenues were flat in 2001 due to economic conditions, but some business lines like Mexico grew, and new customers and services helped capture additional market share.
4) Financial results disappointed expectations for revenue and operating ratio goals, though costs
BNSF is a major railroad network in the United States that transports a variety of goods. In 2003, BNSF saw revenue growth of 5% driven by strong intermodal growth, though on-time performance fell short of goals. Safety performance reached record levels with injury rates down significantly. Looking forward, BNSF aims to continue revenue growth through initiatives like expanding intermodal capacity and pursuing market-based pricing across all business lines.
Burlington Northern Santa Fe Corporation reported earnings of $0.36 per diluted share for the first quarter of 2001, compared to $0.55 per diluted share for the same period in 2000. Freight revenues were $2.26 billion, up slightly due to a 4% increase in ton-miles. Operating expenses increased 7% to $1.87 billion due to higher fuel costs, severe winter weather, and increased energy costs. The operating ratio was 81.5% compared to 77.3% in 2000. Revenue from agricultural commodities increased 11% while industrial revenues declined 3% and coal revenues declined 1% compared to the first quarter of 2000.
The document is Burlington Northern Santa Fe Corporation's 2nd Quarter 2001 Investors' Report. It summarizes that:
1) Earnings were $0.50 per diluted share compared to $0.53 per diluted share in the same period last year, with revenues remaining even despite 2% higher ton-miles.
2) Operating expenses were $65 million higher due to factors like flooding in the Midwest and higher fuel costs.
3) Operating income decreased to $428 million from $483 million last year, and the operating ratio increased to 80.9% from 78.4% last year.
The document is Burlington Northern Santa Fe Corporation's third quarter 2001 investors' report. Key points:
- Earnings per share were $0.58 compared to $0.64 in third quarter 2000. Freight revenues were $2.31 billion, even with last year.
- Operating expenses were higher by $69 million due to increased compensation, benefits, and fuel costs. Operating income was $502 million versus $571 million in 2000.
- 4.1 million shares were repurchased in the quarter, bringing the total under the buyback program to 101.1 million shares.
- The report provides financial statements and statistics on revenues, expenses, operations, and capital expenditures for
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2001. It includes key financial information such as earnings results for Q4 and full year 2001, operating revenues and expenses, balance sheet information, and cash flow information. Specifically, it notes that Q4 2001 earnings were $0.46 per share including workforce reduction costs, or $0.57 per share excluding those costs. For the full year, earnings were $1.87 per share including unusual items, or $2.08 per share excluding unusual items. It also highlights free cash flow of $443 million for the full year, up 3% from 2000.
1. Burlington Northern Santa Fe reported first quarter 2002 earnings of $0.45 per share, up from $0.34 per share in first quarter 2001, which included non-recurring losses.
2. Freight revenues decreased 6% to $2.14 billion due to softer demand across all major product sectors and mild winter weather reducing coal shipments.
3. Operating expenses decreased 4% to $1.8 billion due to reductions in fuel costs, compensation, and equipment rents, partially offsetting the revenue decline.
Burlington Northern Santa Fe reported earnings of $0.51 per share for Q2 2002, up slightly from $0.50 per share in Q2 2001. Freight revenues were $2.18 billion, down 3% from the previous year, with declines in coal, agricultural products, and industrial products offsetting growth in consumer products. Operating expenses decreased 2% despite lower fuel prices, helping maintain the operating ratio at 81.4%. The company also repurchased 4.2 million shares during the quarter.
The document is Burlington Northern Santa Fe Corporation's third quarter 2002 investors' report. It includes:
- BNSF reported earnings of $0.51 per share for Q3 2002, even with adjusted earnings of $0.56 per share for the same period in 2001.
- Freight revenues were $2.28 billion for Q3 2002, even with adjusted revenues of $2.28 billion for Q3 2001.
- Operating income decreased to $421 million for Q3 2002 compared to adjusted operating income of $470 million for Q3 2001, with the operating ratio increasing to 81.6% from 79.4%.
This document provides an annual investors' report for Burlington Northern Santa Fe Corporation for 2002. It includes:
1) Key financial highlights for Q4 2002 including $0.54 earnings per share, $2.27 billion in freight revenues, and $436 million in operating income.
2) Annual 2002 results including $2.00 earnings per share, $8.87 billion in freight revenues, and $1.66 billion in operating income.
3) Details of common stock repurchases totaling approximately 116 million shares under their repurchase program.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
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arrow electronics annual reports 2005
1. A journey powered by
people, excellence, and growth
Arrow eleCTroniCs, inC.
AnnuAl reporT 2005
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • iii
2. Arrow Electronics is a global provider of products, services, and
solutions to industrial and commercial users of electronic
components and computer products. Headquartered in Melville,
New York, Arrow serves as a supply channel partner for nearly 600
suppliers and more than 130,000 original equipment manufacturers,
contract manufacturers, and commercial customers through a global
network of more than 270 locations in 53 countries and territories.
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • iv
3. ,400 eXeCuTiVe leADersHip
nuMBer oF eMploYees FinAnCiAl HigHligHTs
PAgE 2
Daniel W. Duval
30,000
nuMBer oF CusToMers
Chairman sHAreHolDer leTTer
600
nuMBer oF suppliers PAgE 3
William E. Mitchell
270
worlDwiDe loCATions people
President and Chief Executive Officer
page 10
2005 sAles eXCellenCe
page 12
Worldwide Electronic Components
$8.5 billion growTH
page 14
Worldwide Computer Products
non-gAAp FinAnCiAl
$2.7 billion inForMATion
PAgE 8
AnnuAl reporT on
ForM 10-K
PAgE 9
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 •
4. Financial Highlights
(In thousands except per share data)
2005(a)
For the year ended 2004(b) 2003(c)
$11,164,196
Sales $0,646,3 $8,528,33
480,258
Operating income 439,338 84,045
253,609
Net income 207,504 25,700
Net income per share:
2.15
Basic .83 .26
2.09
Diluted .75 .25
At year-end
$6,044,917
Total assets $5,509,0 $5,343,690
2,372,886
Shareholders’ equity 2,94,86 ,505,33
119,803
Common shares outstanding 5,938 00,57
(a) Operating income and net income include (b) Operating income and net income include an (c) Operating income and net income include an
an acquisition indemnification credit of $.7 acquisition indemnification credit, due to a acquisition indemnification charge, due to a
million ($.3 million net of related taxes or $.0 change in estimate, of $9.7 million ($.09 and change in estimate, of $3.0 million ($.3 per
per share on a basic basis) and restructuring $.08 per share on a basic and diluted basis, share), restructuring charges of $38.0 million
charges of $2.7 million ($7.3 million net of respectively), restructuring charges of $.4 ($27. million net of related taxes or $.27 per
related taxes or $.06 and $.05 per share on million ($6.9 million net of related taxes or $.07 share), and an integration charge associated
a basic and diluted basis, respectively). Net and $.06 per share on a basic and diluted with the acquisition of the Industrial Electronics
income also includes a loss on prepayment of basis, respectively), an integration credit, due Division of Agilysys, Inc. of $6.9 million ($4.8
debt of $4.3 million ($2.6 million net of related to a change in estimate, of $2.3 million ($.4 million net of related taxes or $.05 per share).
taxes or $.02 and $.0 per share on a basic million net of related taxes or $.0 per share), Net income also includes a loss on prepayment
and diluted basis, respectively) and a loss of and an impairment charge of $0.0 million of debt of $6.6 million ($3.9 million net of
$3.0 million ($.03 per share) on the write-down ($.09 and $.08 per share on a basic and diluted related taxes or $.04 per share).
of an investment. basis, respectively). Net income also includes
a loss on prepayment of debt of $33.9 million
($20.3 million net of related taxes or $.8 and
$.6 per share on a basic and diluted basis,
respectively) and a loss of $.3 million ($.0 per
share) on the write-down of an investment.
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 2
5. william e. Mitchell
President and Chief Executive Officer
To our shareholders
Three years ago, we developed our strategic framework for pursuing our goal
of becoming the clear number one provider of products and services in our
industry and a premium investment for our shareholders. Since then, we have
grown our sales by nearly $4 billion, a compound annual growth rate of more
than 5 percent and the equivalent of adding a Fortune 500 company. Net
income has climbed from $5 million in 2002 to $265 million in 2005.*
Our success has been driven by our focus on the four pillars of our strategy:
) grow our sales organically and faster than the markets we serve
2) Achieve operational excellence through continuous process improvement
3) Strengthen our financial position by delivering profitable growth that exceeds sales
growth and by improving our balance sheet
4) Build a global management team and engage every employee through
shared leadership.
* See page 8 for a reconciliation of this non-gAAP financial information. ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 3
6. Today, we lead our industry in operating income, and manufacturing services – that accelerate the
cash flow generation, net income, and return on journey to market of electronic products and enterprise
invested capital. In 2005, Arrow Electronics: computing solutions.
• grew sales from $0.6 billion in 2004 to $.2 billion Industry experts estimate that technology manufacturers
in 2005 and gained market share in every business purchased $300 billion of electronic components
in 2005. These manufacturers design and produce
• generated operating income of $49 million, a
products that range from household appliances to
more than nine percent increase when compared to
wireless networks. To serve this market, we combine
our 2004 results*
Arrow’s global capabilities with local market expertise
• Increased net income per share to $2.8 from in North America, Europe, and Asia Pacific.
$.97 in 2004*
Arrow North American Components (NAC) serves
• generated more than $400 million in cash flow an estimated $60 billion market and is the largest
from operations, more than double our cash flow electronic components distributor in the region. In
in 2004 2005, NAC generated sales of $3.8 billion, and grew
market share in our key product categories. NAC
• Reduced net debt to its lowest level in eight years
showed the best operating results since the boom
through the prepayment of $79 million of debt
years of 999 and 2000, with the highest operating
• Set a new record for reducing the working capital
income, the lowest expense ratios, and the highest
required to support a dollar of sales – from $0.20
return on working capital. Asset management reached
per dollar in 2004 to less than $0.8 per dollar by
new records of performance while customer satisfaction
the end of the fourth quarter of 2005
rates rose. With this strong foundation, NAC is targeting
• Delivered a return on invested capital of 0.2 end markets such as industrial, automotive, lighting,
percent and our return on invested capital has and medical systems where the electronic component
now exceeded our cost of capital for the past content in manufacturing continues to grow.
eight consecutive quarters.
In Europe, despite the challenging macroeconomic
We have developed a business model that will deliver conditions and a declining market for components,
more consistent financial results across the industry we posted sales of more than $3 billion and gained
cycles. Our strong financial foundation enables us to share in key markets including the Nordic and
invest in capabilities that will drive future growth. Eastern European regions. Our strategy for serving
this $40 billion components market is to combine a
growth in every business…
Pan-European support structure that reduces our
We serve two core customer segments – original
costs and drives regional supplier relationships
equipment and contract manufacturers of technology
with an extensive local sales and marketing network.
products and value-added resellers serving the
During 2005, in anticipation of the continued migration
enterprise computing market. Our two major businesses
of manufacturing to Eastern Europe, we expanded our
provide products and solutions – including technical
local sales organization and now have nine locations
design, materials management, inventory planning,
serving manufacturers in this region.
Arrow worldwide
Argentina, Australia, Austria, Belarus, Belgium, Bosnia and
Herzegovina, Brazil, Bulgaria, Canada, China, Croatia, Czech
Republic, Denmark, Egypt, England, Estonia, Finland, France,
germany, greece, Hong Kong, Hungary, India, Ireland, Israel,
Italy, Korea, Latvia, Lithuania, Malaysia, Mexico, Netherlands,
New Zealand, Norway, Philippines, Poland, Portugal, Romania,
Russian Federation, Scotland, Serbia and Montenegro,
Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden,
Switzerland, Taiwan, Thailand, Turkey, Ukraine, United States
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 4 * See page 8 for a reconciliation of this non-gAAP financial information.
7. “ Today, we lead our industry in
”
operating income, cash flow generation, net
income, and return on invested capital.
…reinforced through service and
By 2008, the Asia Pacific region will account for close
operational excellence…
to 60 percent of the global consumption of components,
creating an estimated $70 billion market. In the past Our commitment to service excellence begins with our
three years, we have more than doubled the size of our customers and anticipating their changing needs. With
business, posting 2005 sales of $.5 billion. Today, we the initiation of environmental regulations restricting the
serve a broad base of more than 0,000 customers. In use of hazardous substances in Europe (RoHS), and
2005, we added or expanded our franchises with more with regulations pending in other regions, customers
than 5 key suppliers. In China, now the third largest face new challenges during product design. Selection
semiconductor consumer in the world, we opened of environmentally compliant components and computer
three new sales locations and two new distribution products has an immediate effect on today’s design
centers. In December, we completed the purchase of decisions for tomorrow’s products. By leveraging our
70.7 percent of Ultra Source Technology Corporation, a design information and component-selection tools
leading distributor in Taiwan and a provider of consumer and by including compliance data, we offer customers
digital technology to manufacturers. Ultra Source solutions that reduce the risks of product delays and
strengthens our position in Taiwan, an important non-compliant inventory.
gateway to the greater China market.
Annually, our businesses around the globe manage
With the increasing requirements for information millions of customer and supplier transactions, and we
storage, security solutions, and enterprise management ship more than 29 billion units. We simplify the supply
applications, the global market for enterprise computing chain for our customers and suppliers by managing
has grown to more than $00 billion. Today, an its complexity, enabling them to bring their products
estimated 5 percent of this market is served through to market faster and more profitably. That demands
the distributor-to-reseller channel. Arrow Enterprise flawless execution and operational excellence at all
Computing Solutions (ECS) provides servers, storage levels in the organization. In early 2005, we launched
solutions, software, training, and services to value- Lean Sigma to focus on the continuous improvement
added resellers as they develop enterprise solutions of core processes. Since its inception, more than ,00
for their end customers. In North America, ECS has employees have completed varying levels of training, and
delivered 8 consecutive quarters of year-over-year 40 teams around the globe have led projects aimed at
operating income growth, posting 2005 sales of driving growth, operational excellence, and profitability.
$2.4 billion. In 2005, we embarked on our first Operational excellence is a continuous journey, and we
international expansion of this business with the will continue to connect process improvements directly
acquisition of DNSint.com Ag, a leading provider of to our customers’ specific requirements. The leadership
Sun Microsystems and security products and solutions our employees demonstrate as they plan and execute
in Europe. As the demand for computing solutions these projects is an example of our shared leadership
grows globally, we anticipate additional opportunities to strategy in action.
expand this business.
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 5
8. executive Committee
6 9
1) peter s. Brown 6) germano Fanelli
10
7 senior Vice president, general president, Arrow eMeAsA
Counsel and secretary
7) Brian p. Mcnally
8
3 2) J. edward Coleman president, Arrow north
president, Arrow enterprise American Components
Computing solutions
1 8) Jan M. salsgiver
5 3) Michael J. long executive Vice president,
president, north America and Arrow eMeAsA
Asia/pacific Components
2 9) Mark settle
4) Bhawnesh C. Mathur Vice president and Chief
senior Vice president and information officer
4 Chief supply Chain officer
10) susan M. suver
5) paul J. reilly Vice president, global
senior Vice president and Human resources
Chief Financial officer
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 6
9. “ We simplify the supply chain for our
customers and suppliers by managing its complexity,
”
enabling them to bring their products to
market faster and more profitably.
…powered by Arrow people… employees annually reaffirm their commitment to
the Code. For the third time, in recognition of our
Building a strong management team is the
commitment to ethics, Arrow was named to the
cornerstone of our shared leadership strategy. In
“00 Best Corporate Citizens” listing by Business
2005, we welcomed two executives to our Executive
Ethics magazine. This annual listing recognizes
Committee. To drive innovation and integration
publicly traded U.S. companies that excel at serving
across our supply chain solutions, we appointed
stakeholders with excellence and integrity.
Bhawnesh C. Mathur to the newly created position
of Chief Supply Chain Officer. Bhawnesh, former Powering our journey forward is the talent and energy
Executive Vice President at Sanmina-SCI, oversees of our more than ,000 employees. It is a testament
our information technology, logistics, and supply to their commitment that Arrow Electronics was named
chain solutions functions. J. Edward Coleman, former for the ninth time to Fortune magazine’s list of America’s
Chairman and Chief Executive Officer of CompuCom Most Admired Companies. In this year’s annual report,
Systems, Inc., joined Arrow as President of Enterprise we want to give you a “behind-the-scenes” look at how
Computing Solutions. Ed will lead our efforts to build they deliver results for our customers and suppliers.
on the success of our North American business and In addition to their hard work, our employees generously
international expansion. lent their support in the face of the Indian Ocean
tsunami and Hurricane Katrina disasters. Together with
Early in 2006, we announced the appointment of
Arrow, they raised more than $600,000 for the victims
Richard S. Hill, Chairman and Chief Executive Officer
and provided special services to customers and suppliers
of Novellus Systems, Inc., to our Board of Directors.
in the affected areas.
Rick has significant global and industry experience
and will be a valuable addition to our Board and its Our journey to be the clear number one provider of
committees. As we welcomed new leaders, we also products, services, and solutions continues in 2006.
recognized the contributions of Professor Richard S. It is powered by the dedication of our people, our
Rosenbloom, a longtime Arrow Board member, who progress toward financial and service excellence,
retired in 2005. For more than 3 years, Arrow and the significant growth opportunities in the
benefited from his counsel and business expertise. markets we serve.
On behalf of Arrow’s senior management team, I
want to thank Professor Rosenbloom for his service.
…with strong traditions for the journey forward.
william e. Mitchell
Ethics has long been a part of the fabric of our
President and Chief Executive Officer
company. In 2004, we established a Worldwide Code
of Business Conduct and Ethics, and all Arrow
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 7
10. A journey powered by
people, excellence, and growth
Every day, when customers and suppliers
require dependable services and solutions, they
turn to one of our more than 11,000 employees.
From answering customer questions to developing
global supply chain solutions, our employees
demonstrate the highest level of service excellence.
They helped drive our performance in 2005, a year
in which Arrow Electronics continued to lead the
electronics distribution industry in financial results.
Our employees’ commitment to service excellence
combined with our strong financial results enable us
to capitalize on the growth potential in a more than
$400 billion global marketplace. Arrow Electronics is
well positioned for the journey forward – powered
by people, excellence, and growth.
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 8
12. proDuCTiViTY
(Sales in thousands per employee)
people
the design cycle for electronic products
Each day, our more than ,000 employees
and enterprise computing solutions.
arrive at work ready to deliver the highest
level of service to our more than 30,000
In San Diego, as a wireless device
customers and nearly 600 suppliers
manufacturer prepares for prototype
around the globe.
production, the Arrow sales team has been
working behind the scenes to find sources
In Beijing, a customer needs to find a
for components and to suggest alternatives
component solution that will improve the
that will improve the device’s performance.
sound quality of a new MP3 player. Arrow
The team then plans an inventory strategy
engineers use their extensive knowledge of
for full-scale manufacturing across multiple,
component technology to recommend an
global locations. At Arrow’s nearly 250
audio processor recently developed by an
sales locations worldwide, more than 3,200
Arrow supplier. In Asia Pacific, Arrow leads
salespeople create custom solutions that
the industry in providing technical services
launch new products faster and gain our
by combining the talent of our engineering
customers a competitive advantage.
staff with the resources of more than ,200
engineers through our network of independent
When a customer needs product
design houses.
immediately, a distribution center employee
in Venlo, Netherlands quickly responds,
At our Storage Solutions Laboratory in
shipping the product for next-day delivery.
Minneapolis, an Arrow systems engineer
From 9 distribution and value-added
recreates the information demands of a large
centers worldwide, Arrow employees
hospital, enabling a value-added reseller to
manage more than four million shipments
test storage solutions. From answering
annually and provide services that range
technical questions to solving complex
from simple pick-and-ship orders to complex
design challenges, our more than 600
computer integrations.
technical experts around the globe work
with customers and suppliers to shorten
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 0 INC. • ANNUAL REPORT 2005 • 0
ARROW ELECTRONICS,
13. “ In 2005, we received more than 60 awards from customers
and suppliers naming Arrow as a valued and preferred
”
provider of services and solutions. Each time a customer or
supplier recognizes our contributions, working behind the scenes
is a team of Arrow employees committed to excellence.
seiFe TeKlu, senior sYsTeMs engineer, TesTs
inForMATion MAnAgeMenT soluTions AT Arrow’s
MinneApolis sTorAge soluTions lABorATorY.
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 •
14. operATing inCoMe
(In millions)
excellence
Each day, our employees manage tens Our CPI strategy begins by identifying
of thousands of transactions for both process improvements that have a
customers and suppliers. We process nearly direct impact on customer and supplier
35,000 customer invoices daily. Our core satisfaction and on our growth and
processes demand flawless execution to profitability goals. Projects around the
ensure superior service for Arrow customers globe span from improving how we respond
and suppliers. to customers’ requests for pricing to how
we ship products to customers. Generating
Our journey to excellence depends on millions of dollars in incremental revenue,
continuously improving every aspect of CPI teams have streamlined and improved
our daily work and operations. Early in core sales processes, including quoting
2005, we launched Lean Sigma Continuous prices, registering designs with suppliers,
Process Improvement (CPI). Lean Sigma renewing service contracts, and managing
CPI combines the Six Sigma principles the transfer of business across regions.
of process accuracy with the Lean Increasing the efficiency of our distribution
Manufacturing principles of speed and centers, teams have launched process
flexibility. Throughout the year, more than improvements across multiple aspects
1,100 employees completed varying levels of our warehouse operations – from the
of Lean Sigma training, and more than 40 handling of pick-and-ship orders, to
project teams developed new approaches increasing inventory turns, to reducing
to processes central to serving customers freight costs. Increasingly, customers are
and suppliers. now asking for our support as they launch
their own CPI initiatives.
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 2 INC. • ANNUAL REPORT 2005 • 2
ARROW ELECTRONICS,
15. “
Arrow CPI teams start by focusing on the needs of our
customers and suppliers to streamline our operations and
”
processes for consistent service delivery. Their accomplishments
demonstrate our belief that practicing shared leadership
unleashes the power of our employees to contribute to
business results.
pierre reiJnen, worK prepArATion operATor,
MoniTors proDuCT sHipMenTs FroM Arrow’s
DisTriBuTion FACiliTY in Venlo, neTHerlAnDs.
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 3
16. in Arrow’s sAn Diego
oFFiCe, TonY pHipps,
FielD ACCounT MAnAger,
TiFFAni rileY-gAFFneY,
onsiTe represenTATiVe, AnD
sTeVe gAuVin, FielD
sAles represenTATiVe,
plAn An inVenTorY
sTrATegY For A CusToMer.
sAles
(In billions)
gro w t h
In North America and Europe, we serve
Powering our journey primarily through
a broad customer base that includes
organic growth, we have increased our sales
small-to-large manufacturers in the
by more than $3.8 billion in three years, a
automotive, aerospace, communications,
compound annual growth rate of more than
industrial equipment, medical instrumentation,
15 percent. In 2005, our sales growth again
and general electronic product markets.
outpaced market growth, and we gained
The industrial equipment market represents
share in every major business and region.
one of Arrow’s largest end markets in
By providing products and solutions from
these regions. Many of these customers
the very earliest stages of new product
manufacture equipment across multiple
design to final product delivery, we build
locations and require sophisticated
partnerships with our customers that drive
inventory forecasting and materials
their business results.
management support. From electronically
connecting their demand to Arrow
From consumer electronics to factory
systems to managing in-plant stores,
automation, the conversion of mechanical
our solutions ensure a consistent flow of
and electrical devices to electronics
materials for just-in-time manufacturing.
continues, driving consumption of
Medical equipment and instrumentation
electronic components to $300 billion in
has emerged as an expanding market in
2005. In enterprise computing, a growing
both regions. From X-ray equipment to
demand for real-time information and
ultrasound systems, the conversion to
regulatory requirements for information
digital applications increases the demand for
storage and security has created a more
components. The combination of our design
than $100 billion global market. In each
services and our ability to remove costs
region and business, we target our sales
from manufacturing creates a competitive
solutions to meet the specialized needs
edge for medical manufacturers.
of growing end markets.
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 4 INC. • ANNUAL REPORT 2005 • 4
ARROW ELECTRONICS,
17. “
In 2005, value-added resellers purchased nearly $5 billion in servers,
storage solutions, software, and integration services from distributors.
Arrow enterprise Computing solutions assists resellers in
every aspect of serving their end customers – from technical
training, to software services, to complete systems integrations.
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 5
18. in Arrow’s BeiJing, CHinA oFFiCe,
glArie gAo, FielD AppliCATion
engineer, weiKA wAng, TeCHniCAl
serViCe MAnAger, AnD lisA Jin,
FielD AppliCATion engineer,
worK on A new proDuCT Design.
neT inCoMe
(In millions)
Every day, new consumer electronic levels continues to grow as the need for
products are introduced, from educational data on demand and secure information
toys to hand-held navigation systems. One management increases. This increases
of the fastest growing markets for both the the need for server, storage, software, and
manufacturing and increased consumption service solutions. Capitalizing on these
of consumer products is the Asia Pacific opportunities, Arrow Enterprise Computing
region. While Asia Pacific manufacturers Solutions has delivered 18 consecutive
support the world’s demand for consumer quarters of year-over-year operating income
and wireless products, this large electronic growth and 11 consecutive quarters of
product manufacturing base supports year-over-year sales growth.
growing local demand for communications,
data processing, and industrial equipment, In 2005, North America represented an
as well as an emerging automotive estimated 55 percent of the global market for
manufacturing market. By organizing our enterprise computing purchases through the
Asia/Pacific sales teams to serve distinct distributor channel. This channel has been
markets and key technologies, we have expanding in Europe, which now represents
doubled the size of our business during the more than 25 percent of the global market.
past three years. Our 2005 acquisition of DNSint.com AG, a
leading provider of Sun Microsystems and
The demand for enterprise computing security products and solutions in Europe,
solutions from small to large companies, positions us to capitalize on the growth of
hospitals, educational and financial enterprise computing solutions in this region.
institutions, and governments at all
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 6 INC. • ANNUAL REPORT 2005 • 6
ARROW ELECTRONICS,
19. “
Electronic products require power, passives, electromechanical
devices, and connectors (PEMCO). with 2005 sales of
$2 billion, Arrow is now the number one, global
distributor of peMCo products.
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 7
20. non-gAAp FinAnCiAl inForMATion
The noted references in the shareholder letter to operating income, net income, and net income per diluted share were each adjusted
for certain charges, credits, and losses that impact the comparability of our results of operations. These charges, credits, and losses
arise out of the company’s acquisitions of other companies, the company’s efficiency enhancement initiatives, the sale of property,
impairment charges, the prepayment of debt, and the write-down of investments. This financial information has not been prepared
in accordance with generally accepted accounting principles (gAAP). The following table sets forth reconciliations of operating
income, net income, and net income per diluted share, prepared in accordance with gAAP, to operating income, net income, and net
income per diluted share, each as adjusted.
We believe that such non-gAAP financial information may be useful to investors to assist in assessing and understanding our
operating performance and the underlying trends in our business because management considers the charges, credits, and losses
referred to above to be outside our core operating results. This non-gAAP financial information is among the primary indicators
management uses as a basis for evaluating our financial and operating performance. In addition, our Board of Directors may use
this non-gAAP financial information in evaluating management performance and setting management compensation.
The presentation of this non-gAAP financial information is not meant to be considered in isolation or as a substitute for, or
alternative to, operating income, net income, and net income per diluted share determined in accordance with gAAP. Analysis
of results and outlook on a non-gAAP basis should be used as a complement to, and in conjunction with, data presented in
accordance with gAAP.
(In thousands except per share data)
2005 2004 2003
Year ended December 3,
Operating income, as reported $439,338 $84,045
$480,258
Acquisition indemnification charge (credit) (9,676) 3,002
(1,672)
Restructuring charges ,39 37,965
12,716
Integration charge (credit) (2,323) 6,904
–
Impairment charge 9,995 –
–
$491,302 $448,725 $241,916
Operating income, as adjusted
Net income, as reported $207,504 $25,700
$253,609
Acquisition indemnification charge (credit) (9,676) 3,002
(1,267)
Restructuring charges 6,943 27,44
7,310
Integration charge (credit) (,389) 4,822
–
Impairment charge 9,995 –
–
Loss on prepayment of debt 20,297 3,930
2,596
Write-down of investments ,38 –
3,019
$265,267 $234,992 $74,598
Net income, as adjusted
Net income per diluted share, as reported $.75 $.25
$2.09
Acquisition indemnification charge (credit) (.08) .3
–
Restructuring charges .06 .27
.05
Integration charge (credit) (.0) .05
–
Impairment charge .08 –
–
Loss on prepayment of debt .6 .04
.01
Write-down of investments .0 –
.03
$2.18 $1.97 $.74
Net income per diluted share, as adjusted
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • 8
22. www.arrow.com
E Cover and editorial section are printed on paper purchased
from mills that practice sustainable forestry. The financial
section is printed on 100 percent recycled paper containing
30 percent post-consumer recycled content.
ARROW ELECTRONICS, INC. • ANNUAL REPORT 2005 • ii