Expeditors International of Washington announced record quarterly earnings for the third quarter of 2000. Net earnings increased 44% to $25.6 million compared to $17.8 million in the third quarter of 1999. Total revenues grew 17% to $475.4 million and operating income rose 40% to $39.7 million. For the first nine months of the year, net earnings increased 41% to $57.1 million on total revenue growth of 20% and operating income growth of 38%. The company was pleased with the results which it attributed to the hard work of its over 7,000 employees worldwide.
Expeditors International of Washington, 4th98qerfinance39
Expeditors International of Washington reported financial results for the fourth quarter and full year of 1998. For the fourth quarter, net earnings increased 8% to $13.9 million and diluted EPS rose 10% to $0.53. For the full year, net earnings grew 23% to $47.3 million and diluted EPS increased 22% to $1.78. The company saw increases in revenues, operating income, and same store growth for both the quarter and full year. Chairman and CEO Peter Rose commented that 1998 was challenging but the company delivered solid results through its global network and core values.
Expeditors International of Washington, 2nd98qerfinance39
Expeditors International announced a 36% increase in net earnings for the second quarter of 1998 compared to the same period in 1997. Total revenues increased 7% and operating income increased 27% for the quarter. For the first six months of 1998, net earnings rose 39% and operating income increased 36% compared to the first half of 1997. The company was satisfied with the results despite various global economic challenges during the periods.
Expeditors International of Washington, 2nd00qerfinance39
- Expeditors International announced a 37% increase in quarterly net earnings to $18.1 million compared to $13.2 million in the same quarter the previous year.
- Total revenues for the quarter increased 22% to $404.5 million while operating income rose 34% to $27.7 million.
- For the six month period, net earnings increased 38% to $31.5 million, total revenues grew 22% to $753.5 million, and operating income increased 37% to $48.6 million.
Expeditors International of Washington, 4th99qerfinance39
Expeditors International of Washington announced record quarterly and annual financial results for 1999. Key highlights include:
- Quarterly net earnings increased 33% to $18.6 million compared to $13.9 million in the prior year. Diluted EPS increased 31% to $0.34.
- For the full year, net earnings increased 25% to $59.2 million and diluted EPS increased 24% to $1.10.
- Revenues increased across all business segments for the quarter and full year, with total revenues up 37% and 36% respectively.
- The company's CEO attributed the strong results to fundamentals and dedication to providing world-class customer service.
Expeditors International of Washington, 3rd98qerfinance39
Expeditors International announced record quarterly earnings for the third quarter of 1998. Net earnings increased 21% compared to the same quarter of 1997. Total revenues and operating income increased 10% and 17% respectively. For the nine months ended September 30, 1998, net earnings increased 30% and total revenues and operating income increased 10% and 27% respectively compared to the same period in 1997. The company's chairman stated that these results reflect the company's commitment to providing high quality service to customers.
Expeditors International of Washington, 1st00qerfinance39
Expeditors International announced a 40% increase in net earnings for the first quarter of 2000 compared to the same period in 1999. Net revenues increased 22% to $115.5 million while operating income rose 42% to $20.9 million. The company saw increases in airfreight, ocean freight, and customs brokerage revenues which contributed to the strong financial results. The CEO attributed the record quarterly performance to the hard work of employees around the world.
Expeditors International of Washington, 2nd99qerfinance39
Expeditors International announced a 19% increase in quarterly net earnings to $13.2 million, up from $11.1 million in the same quarter the previous year. Total revenues grew 37% to $331.98 million for the quarter. For the first six months of the year, net earnings rose 19% to $22.75 million while total revenues increased 32% to $615.69 million, reflecting strong growth. The company's CEO commented that the results were due to hard work amid challenges of focusing on consistent customer service and real profits rather than revenue growth at the expense of losses.
- Morgan Stanley Dean Witter reported net income of $1.075 billion for Q1 2001, down 30% from $1.544 billion in Q1 2000. Diluted earnings per share were $0.94, down 30% from $1.34 in Q1 2000.
- Revenues decreased 14% to $6.385 billion due to difficult markets negatively impacting several businesses, though fixed income and equity trading performed well.
- Return on equity was 23% and the company remains focused on reducing expenses while maintaining client services in challenging market conditions.
Expeditors International of Washington, 4th98qerfinance39
Expeditors International of Washington reported financial results for the fourth quarter and full year of 1998. For the fourth quarter, net earnings increased 8% to $13.9 million and diluted EPS rose 10% to $0.53. For the full year, net earnings grew 23% to $47.3 million and diluted EPS increased 22% to $1.78. The company saw increases in revenues, operating income, and same store growth for both the quarter and full year. Chairman and CEO Peter Rose commented that 1998 was challenging but the company delivered solid results through its global network and core values.
Expeditors International of Washington, 2nd98qerfinance39
Expeditors International announced a 36% increase in net earnings for the second quarter of 1998 compared to the same period in 1997. Total revenues increased 7% and operating income increased 27% for the quarter. For the first six months of 1998, net earnings rose 39% and operating income increased 36% compared to the first half of 1997. The company was satisfied with the results despite various global economic challenges during the periods.
Expeditors International of Washington, 2nd00qerfinance39
- Expeditors International announced a 37% increase in quarterly net earnings to $18.1 million compared to $13.2 million in the same quarter the previous year.
- Total revenues for the quarter increased 22% to $404.5 million while operating income rose 34% to $27.7 million.
- For the six month period, net earnings increased 38% to $31.5 million, total revenues grew 22% to $753.5 million, and operating income increased 37% to $48.6 million.
Expeditors International of Washington, 4th99qerfinance39
Expeditors International of Washington announced record quarterly and annual financial results for 1999. Key highlights include:
- Quarterly net earnings increased 33% to $18.6 million compared to $13.9 million in the prior year. Diluted EPS increased 31% to $0.34.
- For the full year, net earnings increased 25% to $59.2 million and diluted EPS increased 24% to $1.10.
- Revenues increased across all business segments for the quarter and full year, with total revenues up 37% and 36% respectively.
- The company's CEO attributed the strong results to fundamentals and dedication to providing world-class customer service.
Expeditors International of Washington, 3rd98qerfinance39
Expeditors International announced record quarterly earnings for the third quarter of 1998. Net earnings increased 21% compared to the same quarter of 1997. Total revenues and operating income increased 10% and 17% respectively. For the nine months ended September 30, 1998, net earnings increased 30% and total revenues and operating income increased 10% and 27% respectively compared to the same period in 1997. The company's chairman stated that these results reflect the company's commitment to providing high quality service to customers.
Expeditors International of Washington, 1st00qerfinance39
Expeditors International announced a 40% increase in net earnings for the first quarter of 2000 compared to the same period in 1999. Net revenues increased 22% to $115.5 million while operating income rose 42% to $20.9 million. The company saw increases in airfreight, ocean freight, and customs brokerage revenues which contributed to the strong financial results. The CEO attributed the record quarterly performance to the hard work of employees around the world.
Expeditors International of Washington, 2nd99qerfinance39
Expeditors International announced a 19% increase in quarterly net earnings to $13.2 million, up from $11.1 million in the same quarter the previous year. Total revenues grew 37% to $331.98 million for the quarter. For the first six months of the year, net earnings rose 19% to $22.75 million while total revenues increased 32% to $615.69 million, reflecting strong growth. The company's CEO commented that the results were due to hard work amid challenges of focusing on consistent customer service and real profits rather than revenue growth at the expense of losses.
- Morgan Stanley Dean Witter reported net income of $1.075 billion for Q1 2001, down 30% from $1.544 billion in Q1 2000. Diluted earnings per share were $0.94, down 30% from $1.34 in Q1 2000.
- Revenues decreased 14% to $6.385 billion due to difficult markets negatively impacting several businesses, though fixed income and equity trading performed well.
- Return on equity was 23% and the company remains focused on reducing expenses while maintaining client services in challenging market conditions.
- Disney reported higher earnings per share (EPS) for the second quarter and first half of fiscal year 2004 compared to the previous year, led by growth in operating income at Media Networks, Parks and Resorts, and Consumer Products segments.
- Cash flow from operations for the first half of 2004 was $2.5 billion, more than double the prior year period. Free cash flow for the first half was $2 billion compared to $481 million in the previous year.
- Disney expects full year EPS growth of 50% or more excluding potential impacts like the sale of Disney Stores, and double-digit average annual EPS growth from 2004 through 2007.
Expeditors International of Washington, 3rd99qerfinance39
Expeditors International of Washington reported a 25% increase in net earnings for Q3 1999 compared to Q3 1998. Total revenues increased 40% and operating income increased 27% for the quarter. For the first nine months of 1999, net earnings rose 22% while revenues increased 35% and operating income rose 24% compared to the same period in 1998. The company attributed its strong financial results to the dedication of its employees during a challenging period marked by natural disasters.
Expeditors International of Washington, 3rd01qerfinance39
- Expeditors International of Washington reported a 7% increase in net earnings for Q3 2001 compared to Q3 2000, reaching a record quarterly net of $27.4 million.
- Net revenues increased 4% for Q3 2001 while total revenues decreased 10% and operating income increased 6% compared to the same period last year.
- For the first nine months of 2001, net earnings increased 23% year-over-year, with net revenues up 14% and operating income rising 19%.
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.
- Bank of America reported $4.2 billion in net income for Q1 2009, down from the previous quarter but up from the same period last year. Revenue was $36.1 billion, a record high.
- Results included Merrill Lynch revenues and expenses following the acquisition. Global Markets reported record results despite $1.7 billion in capital markets disruption charges.
- Mortgage banking income was $3.3 billion, up significantly year-over-year, driven by higher home loan production volumes from Countrywide and low interest rates.
This document is Burlington Northern Santa Fe Corporation's annual investors' report for 2005. Some key points:
- BNSF achieved record quarterly and annual revenue and earnings per share in 2005. Fourth quarter earnings were $1.13 per share, up 24% from 2004. Annual earnings were a record $4.01 per share.
- Freight revenues for the fourth quarter of 2005 increased 18% to $3.45 billion compared to 2004. For the full year, freight revenues increased 17% to $12.6 billion.
- Operating income for the fourth quarter was $800 million, up 20% from 2004. For 2005, operating income increased 73% to $2.92
The Walt Disney Company reported higher earnings for the third quarter and first nine months of fiscal year 2004 compared to the prior year periods. Diluted earnings per share grew 21% for the quarter and between 96-110% year-to-date, driven by operating income growth at Media Networks, Parks and Resorts, and Consumer Products segments. Segment operating income increased 14% for the quarter and 53% year-to-date. However, Studio Entertainment segment operating income declined for the quarter due to weaker theatrical performance and higher costs. Excluding the impact of consolidating Euro Disney and Hong Kong Disneyland, net borrowings decreased $2.4 billion from the prior year through use of free cash flow to repay debt.
Clear Channel Communications reported financial results for the third quarter of 2002, with revenues increasing 2% to $2.34 billion and EBITDA rising 11% to $616 million. Free cash flow grew substantially, increasing 108% to $419 million. Radio revenues were up 11% and EBITDA increased 18%, while Outdoor revenues increased 12% but EBITDA declined 3%. Entertainment revenues declined 16% and EBITDA declined 18%. The company expects fourth quarter 2002 EBITDA to be in the range of $525-550 million, an increase of 10% for the full year compared to 2001.
In the quarter ended December 31, 2002:
- Revenues increased 6% to $7.5 billion while net income decreased 41% to $256 million compared to the previous year.
- Earnings per share were $0.13, down from $0.21 in the prior year quarter, due to one-time charges including a $83 million write-off related to United Airlines.
- Excluding one-time items, earnings per share increased 13% to $0.17 from $0.15 in the prior year.
This document provides quarterly financial data for Citigroup, including:
1) Income statements for Citigroup's major business segments broken down by product and region, showing revenues, expenses, profits.
2) Key metrics for Citigroup as a whole, including revenues, income, earnings per share, assets, equity.
3) Specific data on performance of Citigroup's Global Consumer credit card business, including revenues, expenses, profits, and effects of securitization activities.
News Corporation reported a 31% increase in operating income to $719 million for the quarter ended September 30, 2003 compared to $548 million for the same quarter the previous year. Revenue increased 22% to $4.6 billion. Net profit increased $260 million to $422 million. The increases were driven by strong performance in filmed entertainment, cable network programming, newspapers and magazines. The company also added nearly 300,000 subscribers for its new SKY Italia direct broadcast satellite television segment.
Commerce Bancshares reported earnings of $0.66 per share for the third quarter of 2009, up from $0.48 per share in the previous quarter. Net income increased 40% to $51.6 million compared to $37 million in the prior quarter. Total revenue grew 4% while expenses were well controlled. The company strengthened its balance sheet by increasing tangible common equity and loan loss reserves while improving its liquidity and capital positions. Total assets were $18 billion as of September 30, 2009.
Citigroup reported quarterly financial results, with net income of $3.92 billion for 3Q 2002, a 23% increase over 3Q 2001. Core income, which excludes certain items, was $3.79 billion for 3Q 2002, up 17% from the prior year. Diluted earnings per share on net income were $0.76 for the quarter, rising 25% year-over-year, while diluted EPS on core income increased 19% to $0.74. Citigroup operates as a global financial services company with over 200 million customer accounts in more than 100 countries.
Expeditors International of Washington, 3rd08qerfinance39
Expeditors International of Washington reported record quarterly profits for Q3 2008. Net earnings increased 15% to $85.6 million compared to $74.3 million in Q3 2007. Total revenues grew 11% to $1.56 billion while operating income rose 13% to $135.4 million. For the first nine months of 2008, net earnings increased 12% to $223.3 million and revenues grew 14% to $4.33 billion, reflecting strong growth across all business segments. The company attributed its strong results to its unique culture and business model focused on long-term profitability rather than short-term gains.
Morgan Stanley Dean Witter reported record first quarter net income of $1.5 billion, up 49% from the previous year, with record net revenues of $7.4 billion. Earnings per share were up 52% to $1.34. The Securities division achieved net income of $1.24 billion, up 54%, driven by record results in equities trading, investment banking, and asset management. Asset Management reported a 48% increase in net income to $158 million, with record assets under management of $455 billion. Credit Services net income was up 15% to $142 million, with record transaction volumes and consumer loan balances.
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.
Raytheon Reports 2004 Second Quarter Resultsfinance12
Raytheon reported second quarter earnings for 2004. Revenues increased 11% to $4.9 billion due to growth across several business segments. However, earnings per share were $0.22 due to one-time charges related to settling a class action lawsuit and retiring debt. Excluding these charges, earnings per share were $0.35. Free cash flow increased to $818 million compared to the prior year. Looking ahead, Raytheon expects full year revenues of $20 billion and earnings per share between $0.79-0.89 or $1.30-1.40 excluding the class action settlement charges.
- News Corporation reported record revenue and operating income for the fourth fiscal quarter and full year ended June 30, 2004.
- Fourth quarter revenue increased 20% to $5.5 billion and operating income increased 31% to $747 million. Full year revenue increased 20% to $21 billion and operating income increased 21% to a record $3.1 billion.
- Net profit increased 57% for the full year to a record $1.6 billion, driven by double-digit growth across most business segments, including filmed entertainment, cable networks, and newspapers.
news corp 1st Qtr - FY05 - September 30, 2004 - US Dollars finance9
The document summarizes News Corporation's earnings for the quarter ended September 30, 2004. Key points include:
- Revenue increased 12% to $5.2 billion and operating income increased 12% to $805 million, driven by growth across multiple segments.
- Net profit increased 27% to $536 million, up from $422 million in the prior year.
- Several segments saw double-digit operating income growth, including Cable Network Programming, Television, Newspapers, and Magazines and Inserts.
Masco Corporation's 2001 annual report summarizes the company's financial results and business operations for the year. Key points include:
- Net sales reached a record $8.3 billion, up 15% from 2000, though net income declined to $199 million due to a $344 million non-cash investment write-down. Excluding special items, net income declined 21% to $543 million.
- The company achieved record operating profit exceeding $1 billion despite economic challenges. Capital expenditures totaled $274 million.
- Sales growth was driven by acquisitions expanding the cabinets/related products and installation/services segments, though plumbing product sales declined 5%.
- Most of Masco's
Expeditors International of Washington, 1st01qerfinance39
Expeditors International of Washington, Inc. announced a 58% increase in net earnings for the first quarter of 2001 compared to the same period in 2000. Net revenues increased 26% while operating income rose 48%. However, Expeditors lost its contract to be the US customs broker for Ford Motor Corporation, eliminating 110 jobs in its Detroit office. While the financial impact is limited, Expeditors is committed to helping its displaced employees through transfers or continued pay if they cannot relocate. Strong first quarter results were driven by increased revenues across all business segments, but the loss of the Ford contract was difficult both financially and personally.
Expeditors International of Washington, 1st05qerfinance39
Expeditors International of Washington reported a 19% increase in net earnings for the first quarter of 2005 compared to the same period in 2004. Net revenues increased 14% to $230.7 million, while operating income rose 18% to $57.6 million. The company opened several new offices globally during the quarter and saw revenue and operating income growth across all regions and business segments. Chairman and CEO Peter Rose attributed the strong results to the company's focus on customer service and technological solutions to meet customer needs.
- Disney reported higher earnings per share (EPS) for the second quarter and first half of fiscal year 2004 compared to the previous year, led by growth in operating income at Media Networks, Parks and Resorts, and Consumer Products segments.
- Cash flow from operations for the first half of 2004 was $2.5 billion, more than double the prior year period. Free cash flow for the first half was $2 billion compared to $481 million in the previous year.
- Disney expects full year EPS growth of 50% or more excluding potential impacts like the sale of Disney Stores, and double-digit average annual EPS growth from 2004 through 2007.
Expeditors International of Washington, 3rd99qerfinance39
Expeditors International of Washington reported a 25% increase in net earnings for Q3 1999 compared to Q3 1998. Total revenues increased 40% and operating income increased 27% for the quarter. For the first nine months of 1999, net earnings rose 22% while revenues increased 35% and operating income rose 24% compared to the same period in 1998. The company attributed its strong financial results to the dedication of its employees during a challenging period marked by natural disasters.
Expeditors International of Washington, 3rd01qerfinance39
- Expeditors International of Washington reported a 7% increase in net earnings for Q3 2001 compared to Q3 2000, reaching a record quarterly net of $27.4 million.
- Net revenues increased 4% for Q3 2001 while total revenues decreased 10% and operating income increased 6% compared to the same period last year.
- For the first nine months of 2001, net earnings increased 23% year-over-year, with net revenues up 14% and operating income rising 19%.
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.
- Bank of America reported $4.2 billion in net income for Q1 2009, down from the previous quarter but up from the same period last year. Revenue was $36.1 billion, a record high.
- Results included Merrill Lynch revenues and expenses following the acquisition. Global Markets reported record results despite $1.7 billion in capital markets disruption charges.
- Mortgage banking income was $3.3 billion, up significantly year-over-year, driven by higher home loan production volumes from Countrywide and low interest rates.
This document is Burlington Northern Santa Fe Corporation's annual investors' report for 2005. Some key points:
- BNSF achieved record quarterly and annual revenue and earnings per share in 2005. Fourth quarter earnings were $1.13 per share, up 24% from 2004. Annual earnings were a record $4.01 per share.
- Freight revenues for the fourth quarter of 2005 increased 18% to $3.45 billion compared to 2004. For the full year, freight revenues increased 17% to $12.6 billion.
- Operating income for the fourth quarter was $800 million, up 20% from 2004. For 2005, operating income increased 73% to $2.92
The Walt Disney Company reported higher earnings for the third quarter and first nine months of fiscal year 2004 compared to the prior year periods. Diluted earnings per share grew 21% for the quarter and between 96-110% year-to-date, driven by operating income growth at Media Networks, Parks and Resorts, and Consumer Products segments. Segment operating income increased 14% for the quarter and 53% year-to-date. However, Studio Entertainment segment operating income declined for the quarter due to weaker theatrical performance and higher costs. Excluding the impact of consolidating Euro Disney and Hong Kong Disneyland, net borrowings decreased $2.4 billion from the prior year through use of free cash flow to repay debt.
Clear Channel Communications reported financial results for the third quarter of 2002, with revenues increasing 2% to $2.34 billion and EBITDA rising 11% to $616 million. Free cash flow grew substantially, increasing 108% to $419 million. Radio revenues were up 11% and EBITDA increased 18%, while Outdoor revenues increased 12% but EBITDA declined 3%. Entertainment revenues declined 16% and EBITDA declined 18%. The company expects fourth quarter 2002 EBITDA to be in the range of $525-550 million, an increase of 10% for the full year compared to 2001.
In the quarter ended December 31, 2002:
- Revenues increased 6% to $7.5 billion while net income decreased 41% to $256 million compared to the previous year.
- Earnings per share were $0.13, down from $0.21 in the prior year quarter, due to one-time charges including a $83 million write-off related to United Airlines.
- Excluding one-time items, earnings per share increased 13% to $0.17 from $0.15 in the prior year.
This document provides quarterly financial data for Citigroup, including:
1) Income statements for Citigroup's major business segments broken down by product and region, showing revenues, expenses, profits.
2) Key metrics for Citigroup as a whole, including revenues, income, earnings per share, assets, equity.
3) Specific data on performance of Citigroup's Global Consumer credit card business, including revenues, expenses, profits, and effects of securitization activities.
News Corporation reported a 31% increase in operating income to $719 million for the quarter ended September 30, 2003 compared to $548 million for the same quarter the previous year. Revenue increased 22% to $4.6 billion. Net profit increased $260 million to $422 million. The increases were driven by strong performance in filmed entertainment, cable network programming, newspapers and magazines. The company also added nearly 300,000 subscribers for its new SKY Italia direct broadcast satellite television segment.
Commerce Bancshares reported earnings of $0.66 per share for the third quarter of 2009, up from $0.48 per share in the previous quarter. Net income increased 40% to $51.6 million compared to $37 million in the prior quarter. Total revenue grew 4% while expenses were well controlled. The company strengthened its balance sheet by increasing tangible common equity and loan loss reserves while improving its liquidity and capital positions. Total assets were $18 billion as of September 30, 2009.
Citigroup reported quarterly financial results, with net income of $3.92 billion for 3Q 2002, a 23% increase over 3Q 2001. Core income, which excludes certain items, was $3.79 billion for 3Q 2002, up 17% from the prior year. Diluted earnings per share on net income were $0.76 for the quarter, rising 25% year-over-year, while diluted EPS on core income increased 19% to $0.74. Citigroup operates as a global financial services company with over 200 million customer accounts in more than 100 countries.
Expeditors International of Washington, 3rd08qerfinance39
Expeditors International of Washington reported record quarterly profits for Q3 2008. Net earnings increased 15% to $85.6 million compared to $74.3 million in Q3 2007. Total revenues grew 11% to $1.56 billion while operating income rose 13% to $135.4 million. For the first nine months of 2008, net earnings increased 12% to $223.3 million and revenues grew 14% to $4.33 billion, reflecting strong growth across all business segments. The company attributed its strong results to its unique culture and business model focused on long-term profitability rather than short-term gains.
Morgan Stanley Dean Witter reported record first quarter net income of $1.5 billion, up 49% from the previous year, with record net revenues of $7.4 billion. Earnings per share were up 52% to $1.34. The Securities division achieved net income of $1.24 billion, up 54%, driven by record results in equities trading, investment banking, and asset management. Asset Management reported a 48% increase in net income to $158 million, with record assets under management of $455 billion. Credit Services net income was up 15% to $142 million, with record transaction volumes and consumer loan balances.
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.
Raytheon Reports 2004 Second Quarter Resultsfinance12
Raytheon reported second quarter earnings for 2004. Revenues increased 11% to $4.9 billion due to growth across several business segments. However, earnings per share were $0.22 due to one-time charges related to settling a class action lawsuit and retiring debt. Excluding these charges, earnings per share were $0.35. Free cash flow increased to $818 million compared to the prior year. Looking ahead, Raytheon expects full year revenues of $20 billion and earnings per share between $0.79-0.89 or $1.30-1.40 excluding the class action settlement charges.
- News Corporation reported record revenue and operating income for the fourth fiscal quarter and full year ended June 30, 2004.
- Fourth quarter revenue increased 20% to $5.5 billion and operating income increased 31% to $747 million. Full year revenue increased 20% to $21 billion and operating income increased 21% to a record $3.1 billion.
- Net profit increased 57% for the full year to a record $1.6 billion, driven by double-digit growth across most business segments, including filmed entertainment, cable networks, and newspapers.
news corp 1st Qtr - FY05 - September 30, 2004 - US Dollars finance9
The document summarizes News Corporation's earnings for the quarter ended September 30, 2004. Key points include:
- Revenue increased 12% to $5.2 billion and operating income increased 12% to $805 million, driven by growth across multiple segments.
- Net profit increased 27% to $536 million, up from $422 million in the prior year.
- Several segments saw double-digit operating income growth, including Cable Network Programming, Television, Newspapers, and Magazines and Inserts.
Masco Corporation's 2001 annual report summarizes the company's financial results and business operations for the year. Key points include:
- Net sales reached a record $8.3 billion, up 15% from 2000, though net income declined to $199 million due to a $344 million non-cash investment write-down. Excluding special items, net income declined 21% to $543 million.
- The company achieved record operating profit exceeding $1 billion despite economic challenges. Capital expenditures totaled $274 million.
- Sales growth was driven by acquisitions expanding the cabinets/related products and installation/services segments, though plumbing product sales declined 5%.
- Most of Masco's
Expeditors International of Washington, 1st01qerfinance39
Expeditors International of Washington, Inc. announced a 58% increase in net earnings for the first quarter of 2001 compared to the same period in 2000. Net revenues increased 26% while operating income rose 48%. However, Expeditors lost its contract to be the US customs broker for Ford Motor Corporation, eliminating 110 jobs in its Detroit office. While the financial impact is limited, Expeditors is committed to helping its displaced employees through transfers or continued pay if they cannot relocate. Strong first quarter results were driven by increased revenues across all business segments, but the loss of the Ford contract was difficult both financially and personally.
Expeditors International of Washington, 1st05qerfinance39
Expeditors International of Washington reported a 19% increase in net earnings for the first quarter of 2005 compared to the same period in 2004. Net revenues increased 14% to $230.7 million, while operating income rose 18% to $57.6 million. The company opened several new offices globally during the quarter and saw revenue and operating income growth across all regions and business segments. Chairman and CEO Peter Rose attributed the strong results to the company's focus on customer service and technological solutions to meet customer needs.
Expeditors International of Washington, 3rd06qerfinance39
Expeditors International of Washington, Inc. announced a 32% increase in third quarter net earnings compared to the same period last year. Net revenues increased 20% and operating income rose 31%. For the first nine months of 2006, net earnings increased 49% on net revenue growth of 24% and a 48% rise in operating income. The company's chairman stated that the results demonstrate real substance from market share expansion and productivity gains across all geographic segments and products.
Expeditors International of Washington, 2nd05qerfinance39
Expeditors International of Washington, Inc. announced a 19% increase in net earnings for the second quarter of 2005 compared to the same period in 2004. Net revenues increased 13% and operating income rose 17%. For the first six months of 2005, net earnings were up 19% and net revenues increased 13% compared to the first half of 2004. The company attributed the strong financial results to increased demand from customers in retail rushing imports from China ahead of new trade restrictions.
Expeditors International of Washington, 4th04qerfinance39
Expeditors International of Washington reported quarterly and annual earnings for 2004. For the fourth quarter, net earnings increased 20% to $43.6 million compared to the same period in 2003. For the full year, net earnings rose 28% to $156.1 million. Revenues and operating income increased for both the quarter and year compared to 2003. The company was pleased with its performance in overcoming challenges in 2004 through the efforts of its global workforce.
Danaher Corporation announced record first quarter results for 2004 with net earnings of $145.2 million, a 41% increase over the first quarter of 2003. Diluted earnings per share were $0.90, up 38% from $0.65 in the prior year. Total sales increased 29% to $1.543 billion due to 12.5% core revenue growth, 12% growth from acquisitions, and 4.5% from currency gains. The company saw continued strength across most businesses and end markets.
Morgan Stanley Dean Witter announced its third quarter 2000 financial results. Net income increased 28% to $1.246 billion compared to the third quarter of 1999. Earnings per share were up 31% to $1.09. Net revenues grew 18% to $6.294 billion. All business segments saw increases in net income compared to the prior year quarter, with particularly strong growth in Asset Management (+62%) and Credit Services (+10%). For the first nine months of the year, net income increased 35% and earnings per share grew 38% compared to the same period in 1999.
Expeditors International of Washington, 4th03qerfinance39
Expeditors International of Washington, Inc. announced their quarterly and annual earnings for 2003. For the 4th quarter of 2003, net earnings increased 1% to $36.4 million compared to the same quarter of 2002. For the full year of 2003, net earnings rose 8% to $122 million compared to 2002. The company saw increases in revenues, operating income, and earnings per share for both the quarter and full year. The results were positively impacted by improvements in technology and tax changes, but the quarter faced difficult year-over-year comparisons due to disruptions in 2002. The company was satisfied with the results and had opened a new office in Costa Rica during the quarter.
Chiquita Brands International announced a proposed restructuring of $862 million in publicly-held debt discussed in the annual report. If successful, the restructuring would convert a significant portion of the debt into common equity, diluting existing shareholders. The restructuring process is still in the early stages and will continue past the customary May date for the annual shareholder meeting, which has been rescheduled for September 12, 2001. Shareholders will receive proxy materials in advance of the September meeting. The company's website and SEC filings provide information on the restructuring, operations, and other developments.
Expeditors International of Washington, 3rd04qerfinance39
Expeditors International of Washington reported record quarterly earnings for Q3 2004. Net earnings increased 32% to $43.1 million compared to $32.6 million in Q3 2003. Revenues increased 26% to $897.2 million driven by a 27% increase in airfreight tonnage and 24% increase in ocean container volume. For the first nine months of 2004, net earnings rose 32% to $112.6 million while revenues increased 26% to $2.38 billion, reflecting strong volume growth across all regions.
- The Walt Disney Company reported higher earnings for both the fiscal year and quarter ended September 30, 2004 compared to the prior year. Earnings per share for the year increased 72% to $1.12, driven by operating income growth across all segments.
- For the quarter, EPS increased 25% to $0.25, helped by income growth at Media Networks, Parks and Resorts, and Consumer Products, partially offset by a decrease at Studio Entertainment.
- All business segments saw increased revenues and operating income for the year, with the exception of Studio Entertainment which saw a revenue decline but operating income growth. Cash flow from operations reached record levels for the company.
Expeditors International of Washington, 2nd97qerfinance39
Expeditors International of Washington, Inc. announced record financial results for the second quarter and first half of 1997, with significant increases in key metrics compared to the same periods in 1996. Net earnings increased 52% for the quarter and 50% year-to-date, driven by 45% and 43% increases in net revenues, respectively. The company opened new offices in Ireland and India during the quarter and saw continued growth across all business segments and regions. Chairman and CEO Peter Rose attributed the strong results to the company's global network and ability to gain market share while maintaining profitability and cost control.
The document is Morgan Stanley Dean Witter's 2000 annual report which summarizes the company's strong financial performance. It discusses record earnings of $5.5 billion, a 15% increase in diluted earnings per share to $4.73, and a return on equity of 31%. All three of the company's core business lines - securities, asset management, and credit services - achieved record net income for the year. The annual report emphasizes the company's focus on clients and leveraging its strengths to create a new financial services firm positioned for continued success in the future.
2 cash flow and financial statement analysisMalinga Perera
This document discusses various financial analysis tools and ratios used to analyze a company's cash flows, financial statements, and overall financial health. It defines key terms like operating activities, investing activities, financing activities, common stock, preferred stock, equity, assets, and liabilities. It also explains different types of financial ratios used to evaluate a company's profitability, liquidity, asset management, financial structure, and cash flows. These ratios include the current ratio, quick ratio, debt-to-equity ratio, times interest earned ratio, debtors' turnover ratio, and inventory turnover ratio.
Clear Channel Communications reported first quarter 2001 results with net revenues up 108% to $1.6 billion and EBITDA up 70% to $404 million compared to first quarter 2000. While most segments saw declines in revenue and operating cash flow due to difficult year-over-year comparisons, after-tax cash flow per share increased 2% to $0.52. The company withdrew full-year guidance due to uncertainty but forecasted a 1% increase in after-tax cash flow per share for the second quarter.
Expeditors International of Washington, 1st06qerfinance39
Expeditors International of Washington, Inc. announced a 70% increase in net income for the first quarter of 2006 compared to the same period in 2005. Net revenues increased 28% while operating income increased 69%. The company saw increases in airfreight tonnage and new business which offset a marginal decrease in airfreight yields. Strong performance was achieved despite implementing a new accounting rule requiring stock options to be expensed.
The Walt Disney Company reported sharply higher earnings for the first quarter of fiscal year 2004, ended December 31, 2003. Earnings per share increased to $0.33 from $0.05 in the prior year quarter, driven by growth across all business segments. Revenues increased 19% to $8.5 billion due to strong performance of home entertainment releases from Studios and higher affiliate fees and advertising at Media Networks. The company expects continued earnings growth of over 30% for fiscal year 2004.
Expeditors International of Washington, 4th02qerfinance39
Expeditors International of Washington, Inc. announced quarterly earnings of $35,996,000 for Q4 2002, a 33% increase over Q4 2001. Net revenues increased 30% to $201,602,000. For the full year 2002, net earnings increased 16% to $112,529,000 and net revenues grew 12% to $682,213,000. The company's CEO attributed the strong results to the tremendous efforts of employees in serving customers during an unprecedented period with many disruptions.
Expeditors International of Washington, 1st03qerfinance39
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.
This document provides financial information for ColdFront, including income statements, balance sheets, statements of cash flows, and ratio analyses for the years 2019, 2018, and 2017. Key highlights include ColdFront experiencing a significant increase in net income and earnings per share in 2019 compared to previous years. Ratio analyses show improvements in return on equity and working capital in 2019 as well.
Similar to Expeditors International of Washington, 3rd00qer (20)
This document provides an overview of Constellation Brands, Inc., a leading producer and marketer of beverage alcohol. It discusses Constellation's financial highlights, major acquisitions, product portfolio breakdown, and growth strategies. Constellation has achieved strong growth through focus on higher-margin categories like imported beer, fine wine, and U.K. wholesale operations. The company aims to continue expanding in fast-growing segments and meet long-term sales and earnings targets through strategic acquisitions and execution of proven strategies.
1) Constellation Brands is a leading producer and marketer of beverage alcohol brands in North America and the UK.
2) In 2002, Constellation Brands reported gross sales of $3.6 billion, net sales of $2.8 billion, operating income of $342 million, and net income of $136 million.
3) As the second largest supplier of wine, beer, and distilled spirits in the US, Constellation Brands has a broad portfolio of brands that provides opportunities to satisfy consumer preferences across multiple categories of beverage alcohol.
Constellation Brands had strong financial performance in fiscal year 2003. Net sales increased 5% to $2.7 billion and net income grew 22% to $192 million. Earnings per share also increased 16% to $2.07. The company has a broad portfolio of over 200 wine, beer, and spirits brands that makes it unique among global beverage alcohol companies. Its acquisition of BRL Hardy in 2003 is expected to further accelerate sales and earnings growth going forward.
Constellation Brands experienced strong growth in fiscal year 2004. Net sales increased 30% to $3.5 billion and net income grew 39% to $266 million. Operating profit margins improved by 80 basis points. The acquisition of BRL Hardy expanded Constellation's portfolio of wines, particularly Australian wines, and strengthened its global distribution network. Constellation reorganized its global wine operations into six regional companies to better leverage its broader portfolio and drive financial results.
Constellation Brands is a leading international producer and marketer of beverage alcohol brands across wine, spirits, and imported beer. In FY2005, Constellation Brands achieved record sales, net income, earnings per share and other financial metrics. Net sales surpassed $4 billion for the first time, representing a 15% increase over the prior year. Net income grew 25% compared to the prior year. The last three quarters of FY2005 each exceeded $1 billion in net sales. The company's strategy focuses on using its broad product portfolio, geographic diversity, and operational scale to deliver long-term value and growth for shareholders.
Constellation Brands is a leading international marketer of beverage alcohol brands with a broad portfolio across wine, spirits and imported beer categories. It has a portfolio of more than 200 well-known and iconic brands. It has 10,000 employees located across various locations globally including its corporate offices near Rochester, New York. It leverages innovation, dedication, insight and vision to strengthen its brands and business through product development, partnerships, consumer insights and strategic focus.
Constellation Brands had a dynamic fiscal 2007 with strategic changes including acquiring Vincor, forming a joint venture with Grupo Modelo, and announcing the acquisition of SVEDKA vodka. While most business segments performed as expected, growth in the UK was slowed by an Australian wine surplus. Constellation revised its long-term organic growth targets due to changes in accounting and potential higher interest and tax rates. The company believes opportunities remain to create shareholder value through efficiency gains, product development, infrastructure investment, and small acquisitions.
Constellation Brands has cultivated its business over 63 years, evolving into one of the world's leading producers and marketers of beverage alcohol. In fiscal 2008, Constellation enhanced its portfolio focus on higher-growth premium categories through acquisitions like SVEDKA vodka and the Clos du Bois wine portfolio. Constellation also realigned business units and sold lower-margin brands to improve its competitive position and financial performance.
Expeditors International of Washington, Inc. announced a 20% increase in their semi-annual cash dividend from $0.10 per share to $0.12 per share. The increased dividend will be payable on June 17, 2002 to shareholders of record as of June 3, 2002. Expeditors is a global logistics company headquartered in Seattle, Washington that employs professionals in 167 offices worldwide to provide freight forwarding, customs clearance, and other international logistics services.
Expeditors International of Washington, Inc. announced a 38% increase in their semi-annual cash dividend from $0.08 per share to $0.11 per share. The increased dividend will be payable on June 15, 2004 to shareholders of record as of June 1, 2004. Expeditors is a global logistics company headquartered in Seattle, Washington that employs trained professionals in offices and international service centers around the world to provide freight forwarding, customs clearance, and other value added logistics services.
Expeditors International of Washington, Inc. announced a semi-annual cash dividend of $0.11 per share payable on December 15, 2004 to shareholders of record as of December 1, 2004. Expeditors is a global logistics company headquartered in Seattle, Washington that employs trained professionals in 170 offices and 12 international service centers located on six continents linked through an integrated information management system to provide air and ocean freight forwarding, vendor consolidation, customs clearance, marine insurance, distribution and other value added international logistics services.
Expeditors International of Washington, Inc. announced a 36% increase in their semi-annual cash dividend from $0.11 per share to $0.15 per share. The increased dividend will be payable on June 15, 2005 to shareholders of record as of June 1, 2005. Expeditors is a global logistics company headquartered in Seattle, Washington that employs trained professionals in 159 offices worldwide to provide freight forwarding, customs clearance, and other international logistics services.
Expeditors International of Washington, Inc. announced a 46% increase in their semi-annual cash dividend from $0.15 per share to $0.22 per share. The increased dividend will be payable on June 15, 2006 to shareholders of record as of June 1, 2006. Expeditors is a global logistics company headquartered in Seattle, Washington that employs trained professionals in offices worldwide to provide freight forwarding, customs clearance, and other international logistics services.
Glenn M. Alger, President and Chief Operating Officer of Expeditors International of Washington, Inc., a global logistics company, announced his plans to retire in 2007 after 25 years with the company. Alger expressed pride in helping grow Expeditors from 20 employees to over 11,000 worldwide. Peter J. Rose, Chairman and CEO, thanked Alger for his dedication and integral role in the company's success, though noted regional presidents and other leaders are prepared to continue Expeditors' operations and standards without disruption.
Expeditors International of Washington, Inc. announced a 27% increase in their semi-annual cash dividend from $0.11 per share to $0.14 per share. The increased dividend will be payable on June 15, 2007 to shareholders of record as of June 1, 2007. Expeditors is a global logistics company headquartered in Seattle, Washington with over 172 offices worldwide providing freight forwarding, customs clearance, and other international logistics services.
Expeditors International has been named as a defendant along with seven other global logistics companies in a federal antitrust class action lawsuit filed in New York. The lawsuit alleges that the defendants engaged in anti-competitive practices. Expeditors believes the allegations have no merit and will vigorously defend itself against the claims.
Expeditors International of Washington, Inc. appoints Bradley S. Powell as their new Chief Financial Officer. Powell has over 20 years of finance experience including roles as CFO at two other publicly-traded companies. Expeditors' President and COO Jordan Gates says Powell was the right person for the role given his demonstrated experience and attitude. Powell will start on October 1st and focus on training in Expeditors' operations and financial departments to understand their business practices and culture.
The Board of Directors of Expeditors International of Washington, Inc. voted to modify the company's Equal Employment Opportunity (EEO) policy statement to expressly include the words "sexual orientation". This change was in response to a shareholder proposal requesting this modification in the company's proxy statement for the last three years. After reviewing voting results from their most recent proxy statement in light of a recent bylaw change, the Board determined the proposal had passed and unanimously approved the requested change to the EEO statement.
Expeditors International of Washington, 1st97qerfinance39
The document summarizes Expeditors International's financial results for the first quarter of 1997. Net earnings increased 48% to $5.6 million compared to $3.8 million in the first quarter of 1996. Net revenues increased 42% to $57.7 million. Operating income rose 55% to $8.6 million. Same store net revenues and operating income increased 30% and 50% respectively.
Expeditors International of Washington, 05/14/97divfinance39
Expeditors International announced a 25% increase in their semi-annual cash dividend to $0.05 per share. For the first quarter of 1997, the company's net earnings increased 48% compared to the previous year and net earnings per share increased 47%. Expeditors is a global logistics company headquartered in Seattle that saw revenues of $730 million and net earnings of $24 million for the year 1996.
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.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
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.
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Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
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. 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 RECORD EARNINGS; EARNINGS INCREASE 44%
SEATTLE, WASHINGTON – November 7, 2000, Expeditors International of Washington, Inc. (NASDAQ:EXPD) today
announced record quarterly net earnings of $25,642,000 for the third quarter of 2000, compared with $17,839,000 for the
same quarter of 1999, an increase of 44%. Net revenues for the third quarter of 2000 increased 26% to $151,325,000 as
compared with $119,719,000 reported for the third quarter of 1999. Total revenues and operating income were
$475,363,000 and $39,667,000 in 2000 compared with $406,139,000 and $28,397,000 for the same quarter of 1999,
increases of 17% and 40%, respectively. Diluted net earnings per share for the third quarter were $.47 as compared with
$.33 for the same quarter in 1999, an increase of 42%. The company also reported that same store net revenues and
operating income increased 25% and 39%, respectively, for the third quarter of 2000 when compared with 1999.
For the nine months ended September 30, 2000, net earnings rose to $57,097,000 from $40,589,000 in 1999, an increase of
41%. Net revenues for the nine months increased to $394,911,000 from $318,362,000 for 1999, up 24%. Total revenues
and operating income for the nine months were $1,228,903,000 and $88,306,000 in 2000 compared with $1,021,832,000
and $63,812,000 for the same period in 1999, increases of 20% and 38%, respectively. Diluted net earnings per share for
the first three quarters of 2000 were $1.05 as compared with $.75 for the same period of 1999, an increase of 40%. Same
store net revenues and operating income increased 23% and 38%, respectively, for the nine months ended September 30,
2000, when compared with the same period of 1999.
“We are obviously pleased with these results, and more importantly, with how we achieved them, ” commented Peter J.
Rose, Chairman and Chief Executive Officer. “Our employees, and we now have over seven thousand professionals
working with us, gave 110%, just as they always have. When it comes to generating profitable growth, they have proven
that ‘bottom-up buy-in’ from individuals who directly benefit from their sustained efforts will outperform those subjected
to “top-down” directives spewing from the remote command center. We really have nothing more to sell than the
collective efforts of our employees and our culture recognizes this fact.”
“We are further delighted that those who failed to believe – and you know who you are - were caught just a little short
following our mid-October pre-release of these record results. We don’t model our business after anyone else and we
don’t believe that it is possible to understand us by looking elsewhere. For those who evaluate us based upon our historical
achievements --and we know who you are-- we will continue to work hard to meet the test. We also want to thank our
customers who continue to place confidence in each one of our 160 excellent offices – and we all know where they are –
centered throughout the globe,” Rose concluded.
Expeditors is a global logistics company. Headquartered in Seattle, Washington, the company employs trained
professionals in 160 offices and 11 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.
3rd Quarter 2000 Earnings Release
November 7, 2000
Expeditors International of Washington, Inc.
Financial Highlights
Three months and Nine months ended
September 30, 2000 and 1999
Unaudited
(in 000's of US dollars except share data)
Three months ended Nine months ended
September 30 September 30
% %
Inc. Inc.
2000 1999 2000 1999
Revenues $475,363 $406,139 17% $1,228,903 $1,021,832 20%
Net revenues $151,325 $119,719 26% $394,911 $318,362 24%
Operating income $39,667 $28,397 40% $88,306 $63,812 38%
Net earnings $25,642 $17,839 44% $57,097 $40,589 41%
Diluted earnings
per share $.47 $.33 42% $1.05 $.75 40%
Basic earnings
per share $.50 $.35 43% $1.12 $.81 38%
Diluted weighted
average shares
outstanding
54,844,898 54,095,025 54,613,677 53,761,888
Basic weighted
average shares 51,396,972 50,381,950 51,059,861 50,014,832
outstanding
Note to investing public: Please see attached statement of Policy Regarding Public Disclosure of
Corporate Information.
New Offices Opened in the 3rd Quarter of 2000
Asia Europe North America
Saipan, Mariana Islands Bordeaux, France Kansas City, MO
Savannah, GA
Washington, D.C.
3. Expeditors International of Washington, Inc.
1015 Third Avenue, Suite 1200
Seattle, Washington 98104
POLICY REGARDING PUBLIC DISCLOSURE OF CORPORATE INFORMATION
As a result of the October 23, 2000 effective date for SEC Regulation FD, Expeditors is taking this opportunity
to announce a formal policy regarding public disclosure of corporate information. Expeditors has consistently
refused to comment on the financial projections of individual stock analysts and has always avoided selectively
giving information to current or potential shareholders. Effective with the press release for third quarter 2000
earnings issued with this policy statement, Expeditors will handle requests for corporate information as follows:
All requests for corporate information concerning Expeditors' operations must be submitted in writing. This
policy applies equally to securities analysts, current shareholders and potential shareholders. Requests can be
made by mail or courier to Expeditors International of Washington, Inc., 1015 Third Avenue, Suite 1200,
Seattle, Washington 98104 Attention: Chief Financial Officer, by faxing the request to 206-674-3459, or by
email to investor@expeditors.com.
Written responses to selected inquiries will be released to the public by a posting on the internet at
www.investor.expeditors.com and by simultaneous filing with the SEC under Item 9 on Form 8-K. Except in
the case of inquiries following the quarterly earnings press release, the selected responses, if any, will become
available before the market opens on the first business day after the 15th of the month. Selected answers to
inquiries directed at quarterly financial performance received by the close of the first full business day after the
press release is issued will become available within the following forty-eight hours.
Any other analyst or investor contacts, whether by telephone or in person, will be conducted with the
understanding that questions directed at ongoing operations will not be discussed. Management will limit
responses to discussions of previously disclosed information, including informational discussions directed to the
history and operating philosophy of the company and an understanding of the global logistics industry and its
competitive environment.
Expeditors will, of course, make public disclosures at other times as required by law or commercial necessity.
The company reserves the right to report any non-written contact when the intent appears to be to obtain
selective disclosure in violation of this policy and the spirit of regulation FD.
4. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.
AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(In thousands, except share data)
September 30, December 31,
2000 1999
Assets
(Unaudited)
Current assets:
Cash and cash equivalents $142,998 $71,183
Short-term investments 230 1,171
Accounts receivable, net 364,879 314,789
Deferred Federal and state income taxes - -
Other current assets 17,435 15,566
Total current assets 525,542 402,709
Property and equipment, net 103,941 105,905
Deferred Federal and state income taxes 8,614 5,584
Other assets 22,737 21,263
$660,834 $535,461
Liabilities and Shareholders' Equity
Current liabilities:
Short-term borrowings 4,524 19,442
Accounts payable 249,384 184,805
Income taxes payable 18,084 11,081
Deferred Federal and state income taxes 7,466 3,232
Other current liabilities 41,508 34,516
Total current liabilities $320,966 $253,076
Shareholders' equity:
Preferred stock, par value $.01 per share.
Authorized 2,000,000 shares; none issued -- --
Common stock, par value $.01 per share.
Authorized 160,000,000 shares; issued
and outstanding 51,420,571 shares at
September 30, 2000 and 50,644,407
shares at December 31, 1999 514 507
Additional paid-in capital 37,921 29,729
Retained earnings 310,712 257,198
Accumulated other comprehensive loss (9,279) (5,049)
Total shareholders' equity 339,868 282,385
$660,834 $535,461
Certain 1999 amounts have been reclassified to conform to the 2000 presentation.
Note: All 1999 share and per share amounts have been adjusted for the 2-for-1 stock split effective June 1, 1999.
07-Nov-2000 Expeditors International of Washington, Inc. Page 4 of 7
5. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.
AND SUBSIDIARIES
Condensed Consolidated Statements of Earnings
(In thousands, except share data)
(Unaudited)
Three months ended Nine monthes ended
September 30, September 30,
2000 1999 2000 1999
Revenues:
Airfreight $277,658 $248,215 $722,311 $637,521
Ocean freight and ocean services 142,818 111,365 355,032 260,672
Customs brokerage and import services 54,887 46,559 151,560 123,639
Total revenues 475,363 406,139 1,228,903 1,021,832
Operating expenses:
Airfreight consolidation 215,798 200,846 564,386 507,280
Ocean freight consolidation 108,240 85,574 269,606 196,190
Salaries and related costs 77,431 64,019 213,115 176,025
Rent 4,722 4,560 14,030 13,238
Depreciation and amortization 5,620 5,359 16,758 15,232
Selling and promotion 5,026 4,399 14,401 12,244
Other 18,859 12,985 48,301 37,811
Total operating expenses 435,696 377,742 1,140,597 958,020
Operating income 39,667 28,397 88,306 63,812
Interest expense (164) (326) (276) (733)
Interest income 1,819 488 3,939 1,623
Other, net (56) (17) (280) 240
Other income, net 1,599 145 3,383 1,130
Earnings before income taxes 41,266 28,542 91,689 64,942
Income tax expense 15,624 10,703 34,592 24,353
Net earnings $25,642 $17,839 $57,097 $40,589
Diluted earnings per share $0.47 $0.33 $1.05 $0.75
Basic earnings per share $0.50 $0.35 $1.12 $0.81
Diluted weighted average shares outstanding 54,844,898 54,095,025 54,613,677 53,761,888
Basic weighted average shares outstanding 51,396,972 50,381,950 51,059,861 50,014,832
Certain 1999 amounts have been reclassified to conform to the 2000 presentation.
Note: All 1999 share and per share amounts have been adjusted for the 2-for-1 stock split effective June 1, 1999.
07-Nov-2000 Expeditors International of Washington, Inc. Page 5 of 7
6. EXPEDITORS INTERNATIONAL OF WASHINGTON, INC.
AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Three months ended Nine months ended
September 30, September 30,
2000 1999 2000 1999
Operating Activities:
Net earnings $25,642 $17,839 $57,097 $40,589
Adjustments to reconcile net earnings to net
cash provided by operating activities:
Provision for losses on
accounts receivable 1,888 400 2,714 1,539
Deferred income tax expense (benefit) 1,087 (788) 3,632 (1,176)
Tax benefits from employee stock plans 925 1,691 7,740 9,150
Depreciation and amortization 5,620 5,359 16,758 15,232
Other 130 121 621 515
Changes in operating assets and liabilities:
Increase in accounts receivable (59,015) (48,166) (50,315) (78,219)
Increase (decrease) in other current assets 2,769 5,080 (2,282) (6,405)
Increase in accounts payable and other
current liabilities 41,561 31,709 76,187 49,766
Net cash provided by operating activities 20,607 13,245 112,152 30,991
Investing Activities:
Decrease (increase) in short-term investments 2 (963) 935 (746)
Purchase of property and equipment (5,756) (5,955) (17,095) (18,628)
Other (12) (1,840) (1,666) (5,130)
Net cash used in investing activities (5,766) (8,758) (17,826) (24,504)
Financing Activities:
Short-term borrowings, net 2,014 (15,545) (14,738) 4,543
Proceeds from issuance of common
stock 6,095 4,758 9,700 7,892
Repurchases of common stock (5,740) (308) (9,241) (3,587)
Dividends paid - - (3,583) (2,503)
Net cash provided (used) by financing
activities 2,369 (11,095) (17,862) 6,345
Effect of exchange rate changes on cash (2,815) 318 (4,649) (1,655)
Increase (decrease) in cash and cash equivalents 14,395 (6,290) 71,815 11,177
Cash and cash equivalents at beginning
of period 128,603 66,896 71,183 49,429
Cash and cash equivalents at end
of period $ 142,998 $ 60,606 $ 142,998 $ 60,606
Interest and taxes paid:
Interest 9 324 166 701
Income tax 3,464 3,251 15,412 17,236
Certain 1999 amounts have been reclassified to conform to the 2000 presentation.
07-Nov-2000 Expeditors International of Washington, Inc. Page 6 of 7
7. 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
September 30, 2000
Revenues from unaffiliated
customers $ 113,263 9,436 272,906 55,324 3,758 3,667 17,009 475,363
Transfers between
geographic areas $ 6,813 344 998 2,408 831 674 758 (12,826) -
Total revenues $ 120,076 9,780 273,904 57,732 4,589 4,341 17,767 (12,826) 475,363
Net revenues $ 65,138 6,538 42,229 26,825 2,880 2,232 5,483 151,325
Operating income $ 9,927 1,088 19,568 6,616 566 443 1,459 39,667
Identifiable assets
at quarter end $ 337,122 22,483 139,799 104,978 9,540 9,388 19,596 17,928 660,834
Capital expenditures $ 2,896 557 845 684 115 234 425 5,756
Depreciation and amortization $ 3,081 292 961 801 143 88 254 5,620
Equity $ 339,868 4,094 105,011 27,237 6,447 757 5,279 (148,825) 339,868
Three months ended
September 30, 1999
Revenues from unaffiliated
customers $ 91,296 6,175 242,252 46,931 3,546 2,155 13,784 406,139
Transfers between
geographic areas $ 5,352 309 859 1,947 876 549 626 (10,518) -
Total revenues $ 96,648 6,484 243,111 48,878 4,422 2,704 14,410 (10,518) 406,139
Net revenues $ 54,691 4,503 28,058 24,030 2,933 1,299 4,205 119,719
Operating income $ 9,434 671 11,385 5,354 608 123 822 28,397
Identifiable assets
at quarter end $ 277,390 17,155 94,804 93,175 9,518 5,625 14,927 16,984 529,578
Capital expenditures $ 2,986 361 613 848 219 84 844 5,955
Depreciation and amortization $ 2,946 154 914 843 158 66 278 5,359
Equity $ 267,397 2,467 70,875 22,798 6,095 (365) 2,608 (104,478) 267,397
Nine months ended
September 30, 2000
Revenues from unaffiliated
customers $ 315,385 24,015 668,687 151,743 10,416 10,274 48,383 1,228,903
Transfers between
geographic areas $ 16,681 890 2,802 6,714 2,375 1,950 2,286 (33,698) -
Total revenues $ 332,066 24,905 671,489 158,457 12,791 12,224 50,669 (33,698) 1,228,903
Net revenues $ 177,181 17,560 96,353 74,726 8,435 5,847 14,809 394,911
Operating income $ 23,121 2,207 40,113 16,639 1,743 1,092 3,391 88,306
Identifiable assets
at quarter end $ 337,122 22,483 139,799 104,978 9,540 9,388 19,596 17,928 660,834
Capital expenditures $ 8,704 1,437 2,761 2,493 368 476 856 17,095
Depreciation and amortization $ 9,344 815 2,749 2,404 413 235 798 16,758
Equity $ 339,868 4,094 105,011 27,237 6,447 757 5,279 (148,825) 339,868
Nine months ended
September 30, 1999
Revenues from unaffiliated
customers $ 256,085 17,012 575,834 124,970 9,254 5,092 33,585 1,021,832
Transfers between
geographic areas $ 13,033 725 2,449 5,230 2,332 1,382 1,304 (26,455) -
Total revenues $ 269,118 17,737 578,283 130,200 11,586 6,474 34,889 (26,455) 1,021,832
Net revenues $ 147,317 12,248 72,234 64,514 7,907 3,445 10,697 318,362
Operating income $ 19,599 1,745 26,233 12,908 1,489 230 1,608 63,812
Identifiable assets
at quarter end $ 277,390 17,155 94,804 93,175 9,518 5,625 14,927 16,984 529,578
Capital expenditures $ 10,068 1,024 2,120 2,753 482 246 1,935 18,628
Depreciation and amortization $ 8,452 442 2,496 2,429 457 182 774 15,232
Equity $ 267,397 2,467 70,875 22,798 6,095 (365) 2,608 (104,478) 267,397
Certain 1999 amounts have been reclassified to conform to the 2000 presentation.
07-Nov-2000 Expeditors International of Washington, Inc. Page 7 of 7