Dover Corporation reported financial results for the first quarter of 2006 with record revenue of $1.67 billion, a 22% increase over the first quarter of 2005. Earnings per share increased 40% to $0.65 compared to $0.47 in the prior year. All of Dover's business segments experienced revenue, earnings, margin and backlog growth. The company also reported a strong quarter for free cash flow and reduced its net debt to capital ratio.
Programa Lighting Design Workshop @eme3 2013 Alberto Barberá
El taller de diseño de iluminación del festival Eme3 (21-25 Junio 2013) propone una experiencia de la luz aplicada a un contexto fascinante: El antiguo recinto industrial de Fabra i Coats en el distrito de Sant Andreu (Barcelona)
Programa Lighting Design Workshop @eme3 2013 Alberto Barberá
El taller de diseño de iluminación del festival Eme3 (21-25 Junio 2013) propone una experiencia de la luz aplicada a un contexto fascinante: El antiguo recinto industrial de Fabra i Coats en el distrito de Sant Andreu (Barcelona)
Se describirá cómo desarrollar un portal web accesible desde el principio, introduciendo la accesibilidad desde la fase de diseño.
Se describirá un modelo en tres fases: diseño, implementación y gestión, estando presente en cada una de ellas la accesibilidad, describiendo el tipo de profesionales necesarios.
Se verán las ventajas de un desarrollo inicial accesible frente a un portal no accesible que se hace un trabajo de “accesibilización” posterior.
The objective of this white paper is to provide inputs and intelligence for the manufacturing activities in India for the solar PV ecosystem – for both crystalline and thin film technologies while addressing the question of which technology is most suitable under Indian conditions from a regulatory, financial and technical perspective. The topics discussed spans the entire value chain which includes
c-Si Value Chain
Polysilicon
Wafer
Cells
Modules
Thin Film Technologies
a-Si
CdTe
CIGS/CIS
detailed technological comparison of the available module technologies i.e. c-Si and Thin Film has been undertaken along with a comparative analysis of the financials that goes into the manufacturing of modules using either technology.
In addition to the traditional manufacturing options in the value chain, the paper provides critical insight into other, lesser treaded avenues such as raw material manufacturing, machineries and equipment manufacture and other non-core solar products such as glasses, solar grade cables etc. The report is rounded off with an insightful analysis of the policy regime existent in terms of what has been done and what needs to be done to nurture the development of a complete solar PV ecosystem
- See more at: http://www.eai.in/ref/wp/analysis-of-manufacturing-opportunities-in-the-solar-pv-value-chain.html
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
2. Forward Looking Statements
We want to remind everyone that our comments may
contain certain forward-looking statements that are
inherently subject to uncertainties. We caution everyone
to be guided in their analysis of Dover Corporation by
referring to our Form 10-K for a list of factors that could
cause our results to differ from those anticipated in any
such forward looking statements.
We would also direct your attention to our internet site,
www.dovercorporation.com, where considerably more
information can be found.
2
3. Dover’s 2006 Performance YTD
Earnings Per Share Performance 2006 Q 1 Highlights
0.70
Revenue $1.7 billion + 22%
0.65
0.60
EPS $0.65 + 40%
0.55
Organic Growth 16.3%
0.50
0.45
Segment Margin 13.9% + 230 bps
0.40
0.35 Operating Leverage 24.2%
0.30
0.25
Revenue, earnings, margins, and
0.20
backlogs up at all segments.
0.15
Bookings up at 5 out of 6.
0.10
0.05
0.00
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2004 2005 2006 YTD 3
4. Results From Continuing Operations
Q1 2006 Q1 2005 % Change
Revenue $1,668.4 $1,367.8 22%
EBT $191.6 $127.6 50%
Earnings $133.5 $95.4 40%
EPS $0.65 $0.47 40%
Bookings $1,842.3 $1,503.3 23%
Backlog $1,424.5 $1,105.0 29%
Record Revenue, Backlog and Bookings
SFAS 123(R) expense was $5.1 million, net of tax or $0.025 EPS in Q1 2006
($ in millions except per share figures)
4
5. Performance Counts
Targets Q1 2006 Q1 2005
Inventory turns* 8 6.1 4.8
Earnings growth 10% 40% 15%
Operating margin 15% 13.9% 11.6%
Working capital as
% of revenue* 20% 19.7% 23.8%
ROI (Operating) 25% 24.4% 21.7%
* Annualized
5
6. Diversified
($ in millions) Q1 2006 Q1 2005 % Change
Revenue $199.9 $185.1 8%
Income $22.7 $20.4 11%
Operating Margin 11.3% 11.0%
Revenue, earnings and margin growth influenced by
market strength and operational efficiencies.
Industrial Equipment: Revenue +5%; Earnings +4%
Strong revenue gains in the commercial aerospace market,
partially offset by a soft powersports market.
Earnings up and margins flat due to business mix.
Process Equipment: Revenue +16%; Earnings +47%
Strong HVAC, Boiler, and Oil and Gas markets primary revenue
growth factors.
Positive leverage on increased revenue, pricing adjustments
and productivity gains.
6
7. Electronics
($ in millions) Q1 2006 Q1 2005 % Change
Revenue $216.9 $135.1 61%
Income $21.0 $10.5 100%
Operating Margin 9.7% 7.8%
Knowles and Colder acquisitions drove revenue, earnings and margin
growth, despite higher acquisition-related amortization charges. Order
levels remained at the brisk level experienced in the previous quarter
with broad strength in military, aerospace, commercial, telecom and
medical markets.
Components: Revenue +87%; Earnings +340%
Acquisitions and improved margins in core companies drove revenue and income
growth.
Continued margin improvements and strong bookings at the hearing aid, microphone,
crystal, ceramic and microwave product businesses.
Commercial Equipment: Revenue -5%; Earnings -50%
Revenue and earnings declined in the ATM business, offsetting gains in fluid
dispensing.
Strong ATM order activity in March resulted in healthy backlog going into the second
quarter.
7
8. Industries
($ in millions) Q1 2006 Q1 2005 % Change
Revenue $216.4 $201.8 7%
Income $27.5 $22.3 23%
Operating Margin 12.7% 11.1%
Revenue increases primarily due to strong bulk and waste
transportation markets including market share gains. Improved
operating efficiencies resulted in positive operating leverage for the
quarter.
Mobile Equipment Group: Revenue +14%; Earnings +52%
Commercial transportation strength across all market segments drove
revenue and earnings growth.
Earnings improved for the fifth consecutive quarter on higher revenues
and improved leverage.
Service Equipment Group: Revenue - 5%; Earnings -13%.
Volume shortfall due to continued weakness in the automotive service
industry, principally the vehicle wash market.
Earnings negatively impacted by revenue decline and closing costs
associated with a facility shutdown.
8
9. Resources
($ in millions) Q1 2006 Q1 2005 % Change
Revenue $425.2 $356.3 19%
Income $82.8 $62.7 32%
Operating Margin 19.5% 17.6%
Record revenue, earnings, margin, bookings, backlog, inventory velocity,
and working capital reflected strength in most markets although
automotive and retail fueling were a bit soft. All companies continue to
expand their efforts in lean manufacturing and global sourcing.
Oil & Gas Equipment Group: Revenue +41%; Earnings +59%
Select capacity additions underway - reviewing need for additional investments.
Increased global demand, coupled with market/political uncertainties has led to high
energy prices and a positive impact.
Fluid Solutions: Revenue +6%; Earnings +6%
Softness in retail fueling offset continued strength in other markets particularly railroad
transport.
Material Handling: Revenue +15%; Earnings +18%
Softness in automotive sector more than offset by market growth in other areas.
9
10. Systems
($ in millions) Q1 2006 Q1 2005 % Change
Revenue $181.3 $155.9 16%
Income $27.0 $22.0 22%
Operating Margin 14.9% 14.1%
Margin increased on volume leverage and continued emphasis on
productivity programs. Backlog was up 79% over prior year quarter,
reflecting strength in both groups.
Food Equipment: Revenue + 20%; Earnings +36%
Revenue increase driven by strong supermarket equipment sales.
Margin improvement due to positive leverage in supermarket and foodservice
equipment.
Bookings increased significantly over prior year quarter.
Packaging Equipment: Revenue +8%; Earnings +5%
Leverage hurt by exceptional prior period comparisons in the beverage
machinery markets.
Strong increase in bookings over prior year quarter.
10
11. Technologies
($ in millions) Q1 2006 Q1 2005 % Change
Revenue $431.8 $336.0 29%
Income $50.6 $20.9 142%
Operating Margin 11.7% 6.2%
Revenue and earnings increase reflects continued strength in primary
markets served, particularly related to test handling; solder equipment
and product identification companies.
Circuit Assembly & Test (CAT): Revenue +43%; Earnings +366%
Strong market activity carryover from the fourth quarter of 2005. Record
results from test handling and solder equipment companies.
Order activity positive with backlog up 24% from year-end.
Product Identification & Printing (PIP): Revenue + 5%; Earnings +30%
Strong first quarter of 2006, compared to traditionally slow first quarter, with
all regions reporting gains.
Good spending controls across all companies while investing in new
products, geographic markets and synergies.
11
12. First Quarter Overview
Revenue Growth Current Quarter
Organic Growth 16%
Acquisitions 7%
Currency Translation -1%
Total 22%
Free Cash Flow (defined as Cash from operations less Capex)
Strong quarter at 4.4% of revenue
Full year expectations: 8% - 9% of revenue
YTD Capital Expenditures: $39.2 million - up 50% over prior year
Acquisitions
Two add-ons (Electronics) for $14 million, net of cash
Net Debt to Capital Ratio
Currently 24.2%, down from YE 2005 at 28.8%
Effective Tax Rate (ETR)
First quarter : 30.3% vs. 25.2% prior year.
The 2006 increase is largely due to a $5.5 million benefit in 2005 related to a favorable
tax court decision.
Full year rate expected to remain in the range of 28 --30%.
Closed previously announced sale of Tranter PHE for $153 million; gain
net of tax, was $85.1 million. 12