Expeditors International of Washington, Inc. announced financial results for the first quarter of 2003, with net earnings increasing 13% to $25.1 million compared to $22.2 million in the same quarter of 2002. Revenues increased 16% to $170 million and operating income rose 15% despite challenges from the global situation. Diluted earnings per share grew 15% to $0.23 per share.
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
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@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.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
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
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 can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
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.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
1. EARNINGS RELEASE
By: Expeditors International of Washington, Inc.
1015 Third Avenue, Suite 1200
Seattle, Washington 98104
CONTACT: R. Jordan Gates
Chief Financial Officer
(206) 674-3427 FOR IMMEDIATE RELEASE
EXPEDITORS ANNOUNCES EARNINGS PER SHARE INCREASE OF 15%
SEATTLE, WASHINGTON – May 7, 2003, Expeditors International of Washington, Inc. (NASDAQ:EXPD) today
announced net earnings of $25,119,000 for the first quarter of 2003, compared with $22,230,000 for the same quarter of
2002, an increase of 13%. Net revenues for the first quarter increased 16% to $170,026,000 as compared with
$146,706,000 reported for the first quarter of 2002. Total revenues and operating income were $556,346,000 and
$37,529,000 for the first quarter of 2003 compared with $449,540,000 and $32,646,000 for the same quarter of 2002,
increases of 24% and 15%, respectively. Diluted net earnings per share for the first quarter was $.23 as compared with
$.20 for the same quarter in 2002, an increase of 15%. The company also reported that same store net revenues and
operating income increased 16% and 15%, respectively during the first quarter of 2003 as compared with the same period
in 2002.
“In light of everything that has transpired since our last earnings release, we believe that these results are more than
respectable,” said Peter J. Rose, Chairman and Chief Executive Officer. “In fact, we think they are nothing short of
amazing. The world situation provided plenty of challenges during the first quarter, but our employees, particularly those
in the Far and Middle East, were equal to the task. As always, these results are really about their extraordinary efforts to
serve our customers,” Rose continued.
“This first quarter of 2003 saw strong year over year growth in each month. However, the end of quarter rush that we
usually expect in late March did not materialize in 2003. Much as we may all wish for an easy life, it seems very likely
that business uncertainty is the order of the day. That having been said, we accept that good companies are strengthened
by meeting and defeating strong challenges. We haven’t shrunk from a challenge yet and we don’t intend to start now,”
Rose concluded.
Expeditors is a global logistics company headquartered in Seattle, Washington. The company employs trained
professionals in 168 offices and 13 international service centers located on six continents linked into a seamless
worldwide network through an integrated information management system. Services include air and ocean freight
forwarding, vendor consolidation, customs clearance, marine insurance, distribution and other value added international
logistics services.
2. Expeditors International of Washington, Inc.
1st Quarter 2003 Earnings Release
May 7, 2003
Expeditors International of Washington, Inc.
Financial Highlights
Three months ended
March 31, 2003 and 2002
Unaudited
(in 000's of US dollars except share data)
Three Months Three Months
Ended Ended
March 31, 2003 March 31, 2002 % Increase
Revenues $556,346 $449,540 24%
Net Revenues $170,026 $146,706 16%
Operating Income $37,529 $32,646 15%
Net Earnings $25,119 $22,230 13%
Diluted Earnings per share $.23 $.20 15%
Basic Earnings per share $.24 $.22 9%
Diluted weighted average
shares outstanding 108,724,489 108,840,858
Basic weighted average
shares outstanding 104,318,328 103,381,112
Certain 2002 amounts have been reclassified to conform to the 2003 presentation.
All 2002 share and per share information have been adjusted to reflect a 2-for-1 stock split effected June 2002.
New Office Opened in the 1st Quarter of 2003
UNITED STATES
Austin, Texas
Investors may submit written questions via e-mail to: investor@expeditors.com
Or by fax to (206) 674-3459
Questions received by the end of business on May 8, 2003 will be considered in management’s
8-K “Responses to Selected Questions” expected to be filed on or about May 12, 2003.
07-May-2003 Expeditors International of Washington, Inc. Page 2 of 6
3. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.
AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(In thousands, except share data)
(Unaudited)
March 31, December 31,
Assets 2003 2002
Current assets:
Cash and cash equivalents $272,245 $211,859
Short-term investments 46 87
Accounts receivable, net 358,645 385,864
Other current assets 10,487 7,676
Total current assets 641,423 605,486
Property and equipment, net 233,742 204,966
Goodwill, net 5,725 5,299
Deferred Federal and state income taxes 10,504 11,008
Other assets 21,274 53,189
$912,668 $879,948
Liabilities and Shareholders' Equity
Current liabilities:
Short-term debt 525 1,319
Accounts payable 257,964 248,302
Accrued expenses, primarily salaries and related costs 76,832 79,847
Deferred Federal and state income taxes 12,854 9,678
Federal, state and foreign income taxes 12,191 16,990
Total current liabilities $360,366 $356,136
Shareholders' equity:
Preferred stock, par value $.01 per share.
Authorized 2,000,000 shares; none issued -- --
Common stock, par value $.01 per share.
Authorized 320,000,000 shares; issued
and outstanding 104,446,479 shares at
March 31, 2003 and 104,220,940
shares at December 31, 2002 1,044 1,042
Additional paid-in capital 23,674 21,701
Retained earnings 537,155 512,036
Accumulated other comprehensive loss (9,571) (10,967)
Total shareholders' equity 552,302 523,812
$912,668 $879,948
Certain 2002 amounts have been reclassified to conform to the 2003 presentation.
Note: All 2002 share and per share amounts have been adjusted for the 2-for-1 stock split effective June 2002.
07-May-2003 Expeditors International of Washington, Inc. Page 3 of 6
4. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.
AND SUBSIDIARIES
Condensed Consolidated Statements of Earnings
(In thousands, except share data)
(Unaudited)
Three months ended
March 31,
2003 2002
Revenues:
Airfreight $266,814 $225,581
Ocean freight and ocean services 190,345 145,388
Customs brokerage and import services 99,187 78,571
Total revenues 556,346 449,540
Operating expenses:
Airfreight consolidation 201,340 166,554
Ocean freight consolidation 147,853 109,729
Customs brokerage and import services 37,127 26,551
Salaries and related costs 93,540 80,829
Rent and occupancy costs 10,995 9,725
Depreciation and amortization 5,779 5,661
Selling and promotion 5,307 4,438
Other 16,876 13,407
Total operating expenses 518,817 416,894
Operating income 37,529 32,646
Interest expense (48) (66)
Interest income 980 1,444
Other, net 790 1,257
Other income, net 1,722 2,635
Earnings before income taxes 39,251 35,281
Income tax expense 14,132 13,051
Net earnings $25,119 $22,230
Diluted earnings per share $0.23 $0.20
Basic earnings per share $0.24 $0.22
Weighted average diluted shares outstanding 108,724,489 108,840,858
Weighted average basic shares outstanding 104,318,328 103,381,112
Certain 2002 amounts have been reclassified to conform to the 2003 presentation.
Note: All 2002 share and per share amounts have been adjusted for the 2-for-1 stock split effective June 2002.
07-May-2003 Expeditors International of Washington, Inc. Page 4 of 6
5. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.
AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Three months ended
March 31,
2003 2002
Operating Activities:
Net earnings $25,119 $22,230
Adjustments to reconcile net earnings to net
cash provided by operating activities:
Provision for losses on accounts receivable 198 (124)
Deferred income tax expense 2,944 4,070
Tax benefits from employee stock plans 2,157 3,008
Depreciation and amortization 5,779 5,661
Gain on sale of property and equipment (43) (1,478)
Other 983 250
Changes in operating assets and liabilities:
Decrease (increase) in accounts receivable 27,554 (3,951)
Increase in other current assets (1,027) (1,249)
Increase in accounts payable and
other current liabilities 314 15,233
Net cash provided by operating activities 63,978 43,650
Investing Activities:
Decrease (increase) in short-term investments 34 (22)
Purchase of property and equipment (4,545) (4,833)
Proceeds from sale of property and equipment 6 3,526
Cash paid for note receivable secured by real estate - (296)
Other 213 75
Net cash used in investing activities (4,292) (1,550)
Financing Activities:
Borrowings (repayments) of short-term debt, net (849) 339
Proceeds from issuance of common stock 1,792 2,447
Repurchases of common stock (1,974) (402)
Net cash provided by (used in) financing activities (1,031) 2,384
Effect of exchange rate changes on cash 1,731 (260)
Increase in cash and cash equivalents 60,386 44,224
Cash and cash equivalents at beginning of period 211,859 218,677
Cash and cash equivalents at end of period 272,245 262,901
Interest and taxes paid:
Interest 46 65
Income tax 14,041 3,831
Certain 2002 amounts have been reclassified to conform to the 2003 presentation.
Non-Cash Investing Activities - Cash held in escrow of $30,954 was applied toward the
purchase of land and a building in January 2003.
07-May-2003 Expeditors International of Washington, Inc. Page 5 of 6
6. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. AND SUBSIDIARIES
Business Segment Information
(In thousands)
(Unaudited)
United Other Far Australia/ Latin Middle Elimi- Consoli-
States N. America East Europe New Zealand America East nations dated
Three months ended
March 31, 2003
Revenues from unaffiliated
customers $ 120,829 17,455 285,880 89,495 6,389 7,886 28,412 556,346
Transfers between
geographic areas $ 6,468 412 1,472 2,354 919 900 712 (13,237) -
Total revenues $ 127,297 17,867 287,352 91,849 7,308 8,786 29,124 (13,237) 556,346
Net revenues $ 69,305 9,945 46,611 30,336 3,923 3,125 6,781 170,026
Operating income $ 11,378 1,845 19,055 3,425 666 590 570 37,529
Identifiable assets
at quarter end $ 432,480 73,099 147,783 208,328 14,426 9,170 27,382 912,668
Capital expenditures $ 2,273 227 997 766 10 82 190 4,545
Depreciation and amortization $ 3,045 355 729 1,161 144 121 224 5,779
Equity $ 552,302 54,173 125,563 45,543 9,880 1,690 4,156 (241,005) 552,302
Three months ended
March 31, 2002
Revenues from unaffiliated
customers $ 108,700 14,383 225,961 65,293 4,647 6,868 23,688 449,540
Transfers between
geographic areas $ 5,363 436 1,412 2,226 902 812 600 (11,751) -
Total revenues $ 114,063 14,819 227,373 67,519 5,549 7,680 24,288 (11,751) 449,540
Net revenues $ 62,507 8,276 40,200 23,872 3,137 2,816 5,898 146,706
Operating income $ 9,533 1,341 17,020 2,230 669 232 1,621 32,646
Identifiable assets
at quarter end $ 423,411 33,402 117,894 119,133 10,962 9,317 24,510 (4,052) 734,577
Capital expenditures $ 1,314 182 622 2,092 134 40 449 4,833
Depreciation and amortization $ 3,189 368 688 875 111 170 260 5,661
Equity $ 441,932 16,156 111,069 33,287 7,440 537 8,818 (177,307) 441,932
Certain 2002 amounts have been reclassified to conform to the 2003 presentation.
07-May-2003 Expeditors International of Washington, Inc. Page 6 of 6