The document reports on Honeywell's financial results for the first quarter of 2009. Key points include:
- Sales were $7.6 billion, with earnings per share of $0.54 and free cash flow of $232 million.
- Results were in line with expectations given tougher market conditions. The outlook for 2009 EPS is $2.85 to $3.20.
- Cost reduction efforts including repositioning projects benefited results amid challenging markets across many segments.
The document summarizes Tele2's financial and operational results for the third quarter of 2009. It reports that all regions performed solidly, with continued growth in customer numbers in Nordic, Russia, and Central Europe. Russia added over 1 million new customers, including 742,000 from new regions launched in the quarter. The financial review shows increased sales and profits compared to the same period last year.
The document provides a summary of Union Pacific's first quarter 2009 earnings results. Key points include:
- Earnings per share were down 15% from the previous year.
- Operating ratio improved to 80.3% due to lower fuel prices, price increases, and improved productivity despite volume declines of 21%.
- Expenses declined faster than revenues, with fuel expenses down 60% and other cost-cutting measures reducing purchased services and materials by 15% and compensation and benefits by 5%.
- The company is well positioned for future growth when economic conditions improve due to ongoing operating initiatives and a strong balance sheet.
Embraer delivered a record 91 aircraft in the 4th quarter of 2009, surpassing its delivery guidance for the full year. Revenue for 2009 met guidance and was $5.47 billion. EBIT margin was 6.1% for 2009, impacted by a $103 million provision related to a customer bankruptcy, but would have been 8% otherwise. Cash generation was strong in the 4th quarter, resulting in $382.6 million in free cash flow for the quarter and ending 2009 with a net cash position of $503.3 million.
UAL Corporation reported financial results for the fourth quarter of 2008. Some key points:
- The company reported a pre-tax loss of $547 million excluding special items, and $1.3 billion including special items.
- Domestic passenger revenue per seat mile increased 6.7% year-over-year due to capacity reductions. International and regional passenger revenue per seat mile also increased.
- Non-fuel operating costs per seat mile increased only 1.6% year-over-year despite an 11.7% reduction in capacity, showing good cost control.
- The company raised $390 million in cash through financing activities and expects to raise an additional $350 million in early 2009 to
- TriQuint announces its financial results for the first quarter of 2009, with revenue up 7% year-over-year to $118.9 million despite a 20% sequential decline.
- The company reduced inventory by $19.8 million from the previous quarter and had a book to bill ratio of 1.14.
- For the second quarter of 2009, TriQuint estimates revenue between $140-150 million, with non-GAAP net income expected to range between $0.02-0.04 per share.
- Michelin's net sales for the first half of 2009 were €7.1 billion, down 13.4% from the first half of 2008, due to a 23% decline in unit sales caused by falling tire demand globally except in China.
- The operating margin was 4.0% before non-recurring items, down 4.6 points from the first half of 2008, as operating income fell 60.2% to €282 million due to lower unit sales and higher unused capacity costs.
- Michelin reported a net loss of €122 million for the first half after €292 million in restructuring costs for plans in France and North America to increase competitiveness.
This document provides a summary of SAP AG's preliminary fourth-quarter and full-year 2009 results. It includes an overview of SAP's income statement, balance sheet, cash flow analysis, and U.S. GAAP to IFRS reconciliation for 2009. Additionally, it provides SAP's business outlook for 2010, expecting full-year non-IFRS total revenue to grow by 5-7% at constant currencies and non-IFRS operating profit to grow by 9-12% at constant currencies.
Dover Corporation reported third quarter 2008 results with revenue increasing 5% year-over-year to $2 billion and earnings per share increasing 13% to $1.01. Free cash flow was up 4% to $306 million for the quarter. Segment margins increased slightly to 15.9% while organic growth was 2.8% and acquisition growth was 1.7%. The company completed its $500 million share repurchase program for the quarter, repurchasing $114 million in shares. Integration and synergy programs contributed $0.05 per share for the quarter and $0.11 per share year-to-date.
The document summarizes Tele2's financial and operational results for the third quarter of 2009. It reports that all regions performed solidly, with continued growth in customer numbers in Nordic, Russia, and Central Europe. Russia added over 1 million new customers, including 742,000 from new regions launched in the quarter. The financial review shows increased sales and profits compared to the same period last year.
The document provides a summary of Union Pacific's first quarter 2009 earnings results. Key points include:
- Earnings per share were down 15% from the previous year.
- Operating ratio improved to 80.3% due to lower fuel prices, price increases, and improved productivity despite volume declines of 21%.
- Expenses declined faster than revenues, with fuel expenses down 60% and other cost-cutting measures reducing purchased services and materials by 15% and compensation and benefits by 5%.
- The company is well positioned for future growth when economic conditions improve due to ongoing operating initiatives and a strong balance sheet.
Embraer delivered a record 91 aircraft in the 4th quarter of 2009, surpassing its delivery guidance for the full year. Revenue for 2009 met guidance and was $5.47 billion. EBIT margin was 6.1% for 2009, impacted by a $103 million provision related to a customer bankruptcy, but would have been 8% otherwise. Cash generation was strong in the 4th quarter, resulting in $382.6 million in free cash flow for the quarter and ending 2009 with a net cash position of $503.3 million.
UAL Corporation reported financial results for the fourth quarter of 2008. Some key points:
- The company reported a pre-tax loss of $547 million excluding special items, and $1.3 billion including special items.
- Domestic passenger revenue per seat mile increased 6.7% year-over-year due to capacity reductions. International and regional passenger revenue per seat mile also increased.
- Non-fuel operating costs per seat mile increased only 1.6% year-over-year despite an 11.7% reduction in capacity, showing good cost control.
- The company raised $390 million in cash through financing activities and expects to raise an additional $350 million in early 2009 to
- TriQuint announces its financial results for the first quarter of 2009, with revenue up 7% year-over-year to $118.9 million despite a 20% sequential decline.
- The company reduced inventory by $19.8 million from the previous quarter and had a book to bill ratio of 1.14.
- For the second quarter of 2009, TriQuint estimates revenue between $140-150 million, with non-GAAP net income expected to range between $0.02-0.04 per share.
- Michelin's net sales for the first half of 2009 were €7.1 billion, down 13.4% from the first half of 2008, due to a 23% decline in unit sales caused by falling tire demand globally except in China.
- The operating margin was 4.0% before non-recurring items, down 4.6 points from the first half of 2008, as operating income fell 60.2% to €282 million due to lower unit sales and higher unused capacity costs.
- Michelin reported a net loss of €122 million for the first half after €292 million in restructuring costs for plans in France and North America to increase competitiveness.
This document provides a summary of SAP AG's preliminary fourth-quarter and full-year 2009 results. It includes an overview of SAP's income statement, balance sheet, cash flow analysis, and U.S. GAAP to IFRS reconciliation for 2009. Additionally, it provides SAP's business outlook for 2010, expecting full-year non-IFRS total revenue to grow by 5-7% at constant currencies and non-IFRS operating profit to grow by 9-12% at constant currencies.
Dover Corporation reported third quarter 2008 results with revenue increasing 5% year-over-year to $2 billion and earnings per share increasing 13% to $1.01. Free cash flow was up 4% to $306 million for the quarter. Segment margins increased slightly to 15.9% while organic growth was 2.8% and acquisition growth was 1.7%. The company completed its $500 million share repurchase program for the quarter, repurchasing $114 million in shares. Integration and synergy programs contributed $0.05 per share for the quarter and $0.11 per share year-to-date.
The document summarizes Daimler's Q1 2009 results. Key points include:
- EBIT fell to minus €1.4 billion from €2 billion in Q1 2008 due to lower unit sales from the economic crisis.
- Net profit decreased from €1.3 billion to minus €1.3 billion.
- Daimler finalized its separation from Chrysler through an agreement that releases it from liabilities and requires cash payments of €0.6 billion through 2011.
- Countermeasures have been initiated to reduce expenses by €4 billion.
The document is the transcript from Cummins Inc.'s third quarter 2008 earnings teleconference call. It provides an overview of Cummins' financial performance in Q3 2008, including revenue growth of 12% and EBIT margin of 10.3%. Segment results are also summarized, with the Engine segment seeing 6% revenue growth and the Power Generation segment seeing 14% revenue growth. Guidance for full year 2008 is also provided, with revenue growth expected at 12% and EBIT margin of 10%.
1) Marshall Larsen, Chairman, President and CEO of Bank of America, spoke at the 35th Annual Investment Conference in San Francisco on September 21, 2005.
2) The document contains forward-looking statements and cautions readers that actual results may differ due to risks and uncertainties.
3) It provides an overview of Goodrich Corporation, describing it as one of the largest worldwide aerospace suppliers with the broadest portfolio of products and over 130 years of operating history.
Embraer released its first quarter 2010 results according to US GAAP standards. Key highlights included:
- Jet deliveries totaled 41 aircraft, including 21 commercial jets.
- Backlog remained strong at $16 billion, over 3 times annual revenue.
- Net sales were $990 million with gross margin improved to 21.7% from 18.2% in Q1 2009.
- EBIT and EBITDA margins were 5.8% and 8.1% respectively, in line with guidance.
- Net income was $35.3 million compared to a $23.4 million loss in Q1 2009.
The document provides an overview of Goodrich Corporation and its outlook for 2005. It discusses Goodrich's leadership positions in key aerospace markets, balanced business mix across military, commercial original equipment and aftermarket channels, and expectations for low single-digit growth in military/space and around 12% and 5% growth respectively in commercial OE production and the commercial aftermarket. It also contrasts the current commercial aerospace cycle with the prior cycle, noting a more measured growth rate for OE production and a significantly larger fleet to fuel aftermarket strength.
This document provides a summary of Goodrich Corporation's presentation at the Gabelli 11th Annual Aircraft Supplier Conference in New York on September 8, 2005. Goodrich is one of the largest aerospace suppliers worldwide with over 22,100 employees. It has leadership positions in key aerospace markets such as nacelles, engines, sensors, and avionics. New programs like the Airbus A380 and Boeing 787 are expected to provide significant future sales growth opportunities. Goodrich aims to achieve top quartile returns through balanced growth, operational excellence, and effective resource allocation.
Tenneco Inc. held a first quarter 2009 conference call to discuss financial results and outlook. Revenue declined 38% from the prior year due to a 51% drop in North American light vehicle production and 48% decline in European production. EBIT was a loss of $13 million compared to earnings of $39 million in the prior year. Management discussed actions taken to reduce costs, improve cash flow, and maintain liquidity. They expect capital expenditures of $160 million for 2009, down from $221 million in 2008.
- Revenue and earnings for the company increased in the first quarter compared to the prior year.
- Earnings per share were $0.77, up 20% from the prior year.
- The company is increasing its full year 2006 earnings forecast to a range of $3.82 to $3.97 per share.
The document provides an overview of Goodrich Corporation, an aerospace company:
1) Goodrich has leadership positions in key aerospace markets and its portfolio includes nacelles, engines, sensors, avionics, and other products.
2) The company sees balanced growth opportunities across commercial and military markets as well as original equipment and aftermarket sales.
3) Major new programs like the Airbus A380 and Boeing 787 are expected to provide significant future sales as Goodrich supplies various components for these aircraft.
The document discusses Goodrich Corporation, a major aerospace supplier with over $4.7 billion in sales in 2004 and leadership positions in key markets. It outlines Goodrich's growth strategies including new program wins on aircraft like the Airbus A380 and Boeing 787, as well as emerging opportunities in defense, homeland security, and commercial aftermarket services. The presentation also emphasizes Goodrich's focus on operational excellence initiatives to drive costs savings and manufacturing efficiencies.
- Juniper Networks reported its financial results for the first quarter of 2009, with revenue of $764 million, down 7% year-over-year due to challenging economic conditions. Non-GAAP operating margin was 16.4% and non-GAAP EPS was $0.17.
- For the second quarter of 2009, Juniper expects flat to down revenue of $740-780 million, with non-GAAP EPS of $0.16 to $0.18, and operating expenses slightly lower year-over-year.
- Juniper maintains a strong balance sheet with $2.3 billion in cash and no debt to navigate the economic downturn while continuing to invest in R&D.
AES Brasil Group is a major electricity distribution and generation company in Brazil with 7 million clients. In 2008, AES Brasil had R$3.2 billion in Ebitda and R$1.7 billion in net income. It has significant market share in distribution but smaller shares in generation. The document provides an overview of AES Brasil's operations, investments, financial performance, regulatory environment and key subsidiaries such as AES Eletropaulo and AES Tietê.
- BTU International Inc. filed a quarterly report on Form 10-Q for the period ending March 29, 2009.
- For the quarter, BTU reported a net loss of $4.6 million compared to net income of $99,000 in the same period the previous year.
- Net sales decreased to $9.8 million for the quarter from $16.6 million in the previous year's first quarter.
- Crane Co.'s net sales decreased 18% in Q1 2009 compared to Q1 2008, with declines across all business segments. Net income declined 52% over the same period.
- As of March 31, 2009, Crane Co.'s cash and cash equivalents totaled $210 million, accounts receivable was $325 million, and order backlog for aerospace and electronics was $396 million.
- In Q1 2009, Crane Co. generated $15 million in cash from operating activities. However, it used $21 million in cash for financing activities, including paying dividends and reacquiring shares.
This document is a Form 10-Q quarterly report filed by Mack-Cali Realty Corporation with the SEC for the quarterly period ended March 31, 2009. The summary is:
1) Mack-Cali Realty Corporation reported total revenues of $186.7 million for the quarter, with net income of $14.6 million.
2) As of March 31, 2009, the company's total assets were $4.4 billion, total liabilities were $2.5 billion, and total equity was $1.9 billion.
3) During the quarter, the company repaid $199.7 million of senior unsecured notes and had a net decrease in cash and cash
The document discusses how to achieve growth through connecting with stakeholders physically, rationally, and emotionally using experiential communication. It argues this can be done through brand touchpoints, which are points of communication where stakeholders experience a brand through aesthetics, interactions, marketing communications, and workflow. The document promotes a company called Mountain Stream Group that can help integrate communications disciplines to connect with stakeholders through various services.
Continental AG saw a significant decline in sales and earnings in Q1 2009 due to the slump in the global auto market. Sales fell 35.2% to €4.3 billion while EBIT turned negative at -€165 million, down from €456.7 million in Q1 2008. Both the Automotive and Rubber Groups were affected, with sales down 40% and 22% respectively. The company was still able to meet financial covenant requirements and expects sales and profits to improve in Q2 despite continued difficult market conditions.
Web Systems Architecture by Moshe KaplanMoshe Kaplan
If you are planning a large scale web site, or consider how to take you site to the next level, you should have participated in this workshop. Feel free to connect for further details.
Cepheid reported financial results for the first quarter of 2009 with total revenue of $38.8 million, down from $44.8 million in the same period of 2008. The net loss was $7.4 million compared to a net loss of $1.9 million last year. Clinical reagents sales grew 79% year-over-year and helped offset declines in other business areas. For the full year 2009, the company expects total revenue between $164-174 million and a net loss of $0.42-0.47 per share.
This document is CBL & Associates Properties, Inc.'s 10-Q filing for the quarter ending March 31, 2009. It includes:
1) Condensed consolidated financial statements such as the balance sheet, income statement, and statement of cash flows for the quarter;
2) Notes to the financial statements providing additional information; and
3) Certification by management of the accuracy of the financial reporting.
Bank of America reported first quarter 2009 results. Net income was $4.2 billion with diluted EPS of $0.44. Revenue was a record $36.1 billion driven by strong results in global markets and mortgage banking. Provision for credit losses increased to $13.4 billion as reserves were strengthened. Bank of America remains committed to supporting customers and clients during the economic downturn.
CIT Group reported a loss of $1.30 per share for the first quarter of 2009, with results impacted by high credit costs including loan loss reserves, and margin compression from tight credit markets. CIT made progress transferring assets into CIT Bank and raising over $700 million in deposits, while estimated capital ratios were 9.3% for Tier 1 and 13.0% for Total Capital. New business volume was $2.4 billion for the quarter, down from prior periods, reflecting weak market conditions. Credit quality deteriorated, with non-accrual loans up and net charge-offs increased to 2.78% of average loans. Expenses declined from prior periods due to restructuring.
The document summarizes Daimler's Q1 2009 results. Key points include:
- EBIT fell to minus €1.4 billion from €2 billion in Q1 2008 due to lower unit sales from the economic crisis.
- Net profit decreased from €1.3 billion to minus €1.3 billion.
- Daimler finalized its separation from Chrysler through an agreement that releases it from liabilities and requires cash payments of €0.6 billion through 2011.
- Countermeasures have been initiated to reduce expenses by €4 billion.
The document is the transcript from Cummins Inc.'s third quarter 2008 earnings teleconference call. It provides an overview of Cummins' financial performance in Q3 2008, including revenue growth of 12% and EBIT margin of 10.3%. Segment results are also summarized, with the Engine segment seeing 6% revenue growth and the Power Generation segment seeing 14% revenue growth. Guidance for full year 2008 is also provided, with revenue growth expected at 12% and EBIT margin of 10%.
1) Marshall Larsen, Chairman, President and CEO of Bank of America, spoke at the 35th Annual Investment Conference in San Francisco on September 21, 2005.
2) The document contains forward-looking statements and cautions readers that actual results may differ due to risks and uncertainties.
3) It provides an overview of Goodrich Corporation, describing it as one of the largest worldwide aerospace suppliers with the broadest portfolio of products and over 130 years of operating history.
Embraer released its first quarter 2010 results according to US GAAP standards. Key highlights included:
- Jet deliveries totaled 41 aircraft, including 21 commercial jets.
- Backlog remained strong at $16 billion, over 3 times annual revenue.
- Net sales were $990 million with gross margin improved to 21.7% from 18.2% in Q1 2009.
- EBIT and EBITDA margins were 5.8% and 8.1% respectively, in line with guidance.
- Net income was $35.3 million compared to a $23.4 million loss in Q1 2009.
The document provides an overview of Goodrich Corporation and its outlook for 2005. It discusses Goodrich's leadership positions in key aerospace markets, balanced business mix across military, commercial original equipment and aftermarket channels, and expectations for low single-digit growth in military/space and around 12% and 5% growth respectively in commercial OE production and the commercial aftermarket. It also contrasts the current commercial aerospace cycle with the prior cycle, noting a more measured growth rate for OE production and a significantly larger fleet to fuel aftermarket strength.
This document provides a summary of Goodrich Corporation's presentation at the Gabelli 11th Annual Aircraft Supplier Conference in New York on September 8, 2005. Goodrich is one of the largest aerospace suppliers worldwide with over 22,100 employees. It has leadership positions in key aerospace markets such as nacelles, engines, sensors, and avionics. New programs like the Airbus A380 and Boeing 787 are expected to provide significant future sales growth opportunities. Goodrich aims to achieve top quartile returns through balanced growth, operational excellence, and effective resource allocation.
Tenneco Inc. held a first quarter 2009 conference call to discuss financial results and outlook. Revenue declined 38% from the prior year due to a 51% drop in North American light vehicle production and 48% decline in European production. EBIT was a loss of $13 million compared to earnings of $39 million in the prior year. Management discussed actions taken to reduce costs, improve cash flow, and maintain liquidity. They expect capital expenditures of $160 million for 2009, down from $221 million in 2008.
- Revenue and earnings for the company increased in the first quarter compared to the prior year.
- Earnings per share were $0.77, up 20% from the prior year.
- The company is increasing its full year 2006 earnings forecast to a range of $3.82 to $3.97 per share.
The document provides an overview of Goodrich Corporation, an aerospace company:
1) Goodrich has leadership positions in key aerospace markets and its portfolio includes nacelles, engines, sensors, avionics, and other products.
2) The company sees balanced growth opportunities across commercial and military markets as well as original equipment and aftermarket sales.
3) Major new programs like the Airbus A380 and Boeing 787 are expected to provide significant future sales as Goodrich supplies various components for these aircraft.
The document discusses Goodrich Corporation, a major aerospace supplier with over $4.7 billion in sales in 2004 and leadership positions in key markets. It outlines Goodrich's growth strategies including new program wins on aircraft like the Airbus A380 and Boeing 787, as well as emerging opportunities in defense, homeland security, and commercial aftermarket services. The presentation also emphasizes Goodrich's focus on operational excellence initiatives to drive costs savings and manufacturing efficiencies.
- Juniper Networks reported its financial results for the first quarter of 2009, with revenue of $764 million, down 7% year-over-year due to challenging economic conditions. Non-GAAP operating margin was 16.4% and non-GAAP EPS was $0.17.
- For the second quarter of 2009, Juniper expects flat to down revenue of $740-780 million, with non-GAAP EPS of $0.16 to $0.18, and operating expenses slightly lower year-over-year.
- Juniper maintains a strong balance sheet with $2.3 billion in cash and no debt to navigate the economic downturn while continuing to invest in R&D.
AES Brasil Group is a major electricity distribution and generation company in Brazil with 7 million clients. In 2008, AES Brasil had R$3.2 billion in Ebitda and R$1.7 billion in net income. It has significant market share in distribution but smaller shares in generation. The document provides an overview of AES Brasil's operations, investments, financial performance, regulatory environment and key subsidiaries such as AES Eletropaulo and AES Tietê.
- BTU International Inc. filed a quarterly report on Form 10-Q for the period ending March 29, 2009.
- For the quarter, BTU reported a net loss of $4.6 million compared to net income of $99,000 in the same period the previous year.
- Net sales decreased to $9.8 million for the quarter from $16.6 million in the previous year's first quarter.
- Crane Co.'s net sales decreased 18% in Q1 2009 compared to Q1 2008, with declines across all business segments. Net income declined 52% over the same period.
- As of March 31, 2009, Crane Co.'s cash and cash equivalents totaled $210 million, accounts receivable was $325 million, and order backlog for aerospace and electronics was $396 million.
- In Q1 2009, Crane Co. generated $15 million in cash from operating activities. However, it used $21 million in cash for financing activities, including paying dividends and reacquiring shares.
This document is a Form 10-Q quarterly report filed by Mack-Cali Realty Corporation with the SEC for the quarterly period ended March 31, 2009. The summary is:
1) Mack-Cali Realty Corporation reported total revenues of $186.7 million for the quarter, with net income of $14.6 million.
2) As of March 31, 2009, the company's total assets were $4.4 billion, total liabilities were $2.5 billion, and total equity was $1.9 billion.
3) During the quarter, the company repaid $199.7 million of senior unsecured notes and had a net decrease in cash and cash
The document discusses how to achieve growth through connecting with stakeholders physically, rationally, and emotionally using experiential communication. It argues this can be done through brand touchpoints, which are points of communication where stakeholders experience a brand through aesthetics, interactions, marketing communications, and workflow. The document promotes a company called Mountain Stream Group that can help integrate communications disciplines to connect with stakeholders through various services.
Continental AG saw a significant decline in sales and earnings in Q1 2009 due to the slump in the global auto market. Sales fell 35.2% to €4.3 billion while EBIT turned negative at -€165 million, down from €456.7 million in Q1 2008. Both the Automotive and Rubber Groups were affected, with sales down 40% and 22% respectively. The company was still able to meet financial covenant requirements and expects sales and profits to improve in Q2 despite continued difficult market conditions.
Web Systems Architecture by Moshe KaplanMoshe Kaplan
If you are planning a large scale web site, or consider how to take you site to the next level, you should have participated in this workshop. Feel free to connect for further details.
Cepheid reported financial results for the first quarter of 2009 with total revenue of $38.8 million, down from $44.8 million in the same period of 2008. The net loss was $7.4 million compared to a net loss of $1.9 million last year. Clinical reagents sales grew 79% year-over-year and helped offset declines in other business areas. For the full year 2009, the company expects total revenue between $164-174 million and a net loss of $0.42-0.47 per share.
This document is CBL & Associates Properties, Inc.'s 10-Q filing for the quarter ending March 31, 2009. It includes:
1) Condensed consolidated financial statements such as the balance sheet, income statement, and statement of cash flows for the quarter;
2) Notes to the financial statements providing additional information; and
3) Certification by management of the accuracy of the financial reporting.
Bank of America reported first quarter 2009 results. Net income was $4.2 billion with diluted EPS of $0.44. Revenue was a record $36.1 billion driven by strong results in global markets and mortgage banking. Provision for credit losses increased to $13.4 billion as reserves were strengthened. Bank of America remains committed to supporting customers and clients during the economic downturn.
CIT Group reported a loss of $1.30 per share for the first quarter of 2009, with results impacted by high credit costs including loan loss reserves, and margin compression from tight credit markets. CIT made progress transferring assets into CIT Bank and raising over $700 million in deposits, while estimated capital ratios were 9.3% for Tier 1 and 13.0% for Total Capital. New business volume was $2.4 billion for the quarter, down from prior periods, reflecting weak market conditions. Credit quality deteriorated, with non-accrual loans up and net charge-offs increased to 2.78% of average loans. Expenses declined from prior periods due to restructuring.
Alliance Data reported first quarter results with revenues down 4% reported but up 4% on a constant currency basis. Adjusted EBITDA was down 8% reported but only down 2% on a constant currency basis. Cash EPS was up 19% to $1.19. Loyalty Services Canada had its strongest first quarter with revenue up 17% and adjusted EBITDA up over 50%. Epsilon Marketing Services saw 60% of its segment with double digit growth in database, analytics, and digital services. Private label services revenue and adjusted EBITDA were up while credit was down. Alliance Data maintained its full-year cash EPS guidance of at least $5.15, an increase of 17%.
Carlisle Companies reported a 22% decline in first quarter net sales to $511.1 million compared to the prior year. Net income declined 65% to $10 million due to declining sales volumes, especially in the Construction Materials and Transportation Products segments. Cash flow from operations increased to $63.5 million. The company expects sales to decline 20-25% for the full year and is implementing cost cutting measures to maintain margins.
- The Pepsi Bottling Group reported first quarter 2009 results, with worldwide comparable operating profit growth of 10% and reported diluted EPS of $0.27.
- PBG raised its full-year 2009 EPS guidance to $2.20-$2.30, up from previous guidance, and raised operating free cash flow guidance to $500 million.
- First quarter results exceeded profit and earnings targets due to successful execution of global pricing strategies and cost savings initiatives despite challenging market conditions.
Cooper Industries reported financial results for the first quarter of 2009. Revenues decreased 19% to $1.26 billion due to weakness in global markets. Earnings per share from continuing operations were $0.48, but were $0.47 excluding restructuring charges and a tax item. The company generated a record $137 million in free cash flow. For 2009, earnings per share are forecast to be $2.30 to $2.60 excluding restructuring, and revenues are expected to decline 17-21% compared to 2008.
The Coca-Cola Company reported first quarter 2009 results with 2% worldwide unit case volume growth and currency neutral operating income growth exceeding its long-term target. Revenue decreased 3% to $7.1 billion due to negative foreign exchange impact. EPS was $0.58 but was $0.65 excluding items. The company gained volume and value share globally and productivity initiatives are on track to deliver $500 million in annual savings by 2011. International results were mixed with growth in Eurasia & Africa, Latin America, and Pacific offset by declines in Europe and North America due to economic challenges.
Canadian National Railway Company reported financial results for the first quarter of 2009 with the following highlights:
- Revenues were $1,859 million, down slightly from $1,927 million in the first quarter of 2008.
- Net income was $424 million, up 36% compared to $311 million in the previous year.
- Earnings per share increased to $0.91 from $0.64 in the first quarter of 2008.
GE reported preliminary third quarter 2009 results with earnings of $2.5 billion, down 45% from the prior year. Revenue declined 20% to $37.8 billion due to lower sales at Industrial and Financial Services. Industrial segment profit rose 4% driven by gains at Infrastructure, Media, and Commercial & Industrial. Capital Finance segment profit fell 87% to $263 million. Cash flow from operating activities was $11.5 billion year-to-date, down 16% compared to prior year. The company continued restructuring efforts and investing for the long-term while executing through the recession.
This document summarizes an earnings conference call for the first quarter of 2009. It includes cautionary statements about forward-looking projections and defines adjusted earnings as a non-GAAP measure. The document highlights that FPL Group had strong overall results for the quarter and is well positioned given policy trends. It also notes that FPL saw improved earnings despite economic challenges, while NextEra Energy Resources' growth was driven by new investments. Key provisions of the American Recovery and Reinvestment Act that could benefit renewable energy are also summarized.
Duke Realty reported first quarter 2019 results, with FFO per share of $0.71, in line with expectations. To strengthen its balance sheet, Duke raised $575 million through a common stock offering, completed $156 million in secured debt financing, and repurchased $170 million of debt. Duke also reaffirmed its 2019 FFO guidance range despite economic challenges.
The document provides financial information for Jones Lang LaSalle's first quarter 2009 earnings call. It includes reconciliations of GAAP net loss to adjusted figures, summaries of revenue and earnings by segment, details of cost cutting measures, debt covenant metrics, and a list of new client wins in their Global Corporate Solutions division. The financial results showed a net loss of $61.5M for the quarter, though adjustments for items like restructuring charges brought the adjusted net loss to $16.3M. Segments like the Americas saw revenue and earnings growth while others like Europe declined. The company also outlined steps taken to reduce costs like staff cuts, discretionary spending cuts, and reduced capital expenditures.
Honeywell provided its 2009 outlook, with consolidated sales expected to be $33.6-$35.3 billion, down (8%)-(4%) from 2008. Segment profit is expected to be $4.4-$4.8 billion, down (8%)-(0%) from 2008. EPS is forecast at $3.20-$3.55, down (15%)-(6%) from 2008. Key assumptions include developed markets GDP declining (2%)-(1%) and emerging markets growing 7-8%. Productivity actions aim to generate $0.8 billion in savings through initiatives like functional transformation and the Honeywell Operating System.
Dover Corporation reported third quarter 2008 results with revenue increasing 5% year-over-year to $2 billion and earnings per share increasing 13% to $1.01. Free cash flow was up 4% to $306 million for the quarter. Segment margins increased slightly to 15.9% while organic growth was 2.8% and acquisition growth was 1.7%. The company completed its $500 million share repurchase program for the quarter, repurchasing $114 million in shares.
Dover Corporation reported third quarter 2008 results with revenue increasing 5% year-over-year to $2 billion and earnings per share increasing 13% to $1.01. Free cash flow was up 4% to $306 million for the quarter. Segment margins increased slightly to 15.9% while organic growth was 2.8% and acquisition growth was 1.7%. The company completed its $500 million share repurchase program for the quarter, repurchasing $114 million in shares. Integration and synergy programs contributed $0.05 per share for the quarter and $0.11 per share year-to-date.
ITW is facing challenges from the deteriorating global economic environment and recession. In Q4 2008, revenues declined 6% and income declined 38% due to weak end markets. For 2009, ITW forecasts further revenue declines of 12-6% and income declines of 29-51% compared to 2008.
To respond, ITW will employ its 80/20 process and tools to reduce costs. It will also utilize its strong financial position and generate cash flow. ITW will remain focused on customers and innovation and take a long-term view, despite short-term difficulties. The company is prepared to respond effectively to the challenges through proven management and business processes.
The document is Honeywell's 3Q 2006 earnings release. Key details include:
- Sales grew 15% to $7.952B in 3Q 2006 compared to 3Q 2005, with 9% organic growth.
- Segment profit increased 19% and EPS grew 22% year-over-year.
- All business segments experienced sales and segment profit growth.
- Honeywell raised the high end of its full-year 2006 EPS guidance range to $2.51-2.53 per share.
This document provides an earnings presentation for Xerox for the fourth quarter of 2008. It includes summaries of Xerox's financial performance, business metrics, cash flow, earnings, and guidance. Key points include total revenue declining 10% year-over-year for Q4 2008 (5% at constant currency) due to deteriorating global economies; adjusted EPS of $0.30 for Q4 excluding restructuring charges; and guidance of around $1.00 EPS for full-year 2009 based on continued economic pressure.
Dover Corporation reported financial results for Q4 2008 and full year 2008. Q4 revenue declined 8% year-over-year due to softness across segments except Fluid Management. Full year revenue grew 3% driven by Fluid Management growth offsetting weakness elsewhere. Integration and restructuring programs achieved savings and positioned the company for continued improvements in 2009 despite challenging market conditions. Guidance for 2009 anticipates an 11-13% revenue decline but maintained strong free cash flow and earnings.
Dover Corporation reported financial results for Q4 and full year 2008. Q4 revenue declined 8% year-over-year to $1.7 billion due to weakness across several segments. However, full year revenue grew 3% to $7.6 billion driven by strong performance in fluid management. Earnings per share from continuing operations grew 3% in Q4 and 11% for the full year. Free cash flow was strong at $227.9 million for Q4 and $834.6 million for the full year.
Dover Corporation reported financial results for Q4 and full year 2008. Q4 revenue declined 8% year-over-year to $1.7 billion due to weakness across several segments. However, full year revenue grew 3% to $7.6 billion driven by strong performance in fluid management. Earnings per share grew 3% in Q4 and 11% for the full year. Free cash flow was strong at $227.9 million for Q4 and $834.6 million for the full year.
This document provides an overview of Northrop Grumman Corporation's financial performance in Q1 2006 and outlook for 2006. It summarizes sales growth, operating margins, cash from operations, and guidance for each of its business segments. Non-GAAP measures like segment operating margin are also defined and reconciled.
The document summarizes Rockwell Automation's fiscal year 2009 second quarter conference call. It provides key financial details such as a 25% year-over-year sales decline to $1.058 billion resulting in a decrease in operating earnings. Segment operating margins contracted across all segments due to the significant revenue decline and unfavorable mix. Regional sales decreased the most in Canada and EMEA. The document also included safe harbor statements and notices regarding non-GAAP financial information.
Dover Corporation is a $7 billion global provider of industrial products, fluid management, engineered systems and electronic technologies. In 2008, Dover exceeded 3 of its 5 performance targets and achieved strong free cash flow of $834.6 million. Looking ahead, Dover is focused on cost savings initiatives, restructuring programs, and strategic capital allocation to deliver solid results in a challenging economic environment. Guidance for 2009 anticipates an 11-13% decline in total revenue but maintains a target for free cash flow to remain above 10% of revenue.
Dover Corporation is a $7 billion global provider of industrial products, fluid management, engineered systems, and electronic technologies. In 2008, Dover exceeded 3 of its 5 performance targets and achieved 3% earnings growth and 15.3% operating margins. For 2009, Dover expects revenues to decline 11-13% due to weakness in core markets, while pursuing restructuring efforts and synergies to offset declines and deliver EPS of $2.75-$3.05. Dover will continue strategic capital allocation including acquisitions and share repurchases.
Unisys reported its first-quarter 2009 financial results, with revenue declining 15% year-over-year to $1.1 billion due to weakness in the global economy. However, the company made progress on its turnaround efforts by reducing operating expenses by 24% and improving services operating margins. Cash flow also significantly improved compared to the prior year. Looking ahead, Unisys will continue executing its turnaround priorities to drive cost efficiencies and margin improvements in order to navigate the challenging business environment.
The document discusses UBS Aerospace and Defense's Boston Investor Day presentation from May 14, 2008. It notes that certain statements made are forward-looking and subject to risks and uncertainties. It then provides an overview of Goodrich Corporation, highlighting its portfolio attributes, strategic imperatives, and recent highlights. The presentation discusses trends in commercial and defense aerospace markets and Goodrich's positioning and growth opportunities in these markets.
The document is Honeywell's earnings release for the first quarter of 2008. It reports strong financial results including 11% sales growth and 16% increase in segment profit. All of Honeywell's business segments experienced growth in the quarter. The release also updates guidance for full-year 2008, moving to the high end of the previous EPS range.
CP's first quarter 2009 earnings review showed:
- Revenues were down 13% due to an 18.6% decline in carloads and 22.4% drop in revenue ton-miles from volume declines and negative mix changes.
- Operating expenses were managed well through cost control initiatives, offsetting some of the revenue declines and limiting the operating income decrease to 35%.
- The company is focused on further reducing structural costs through process improvements and efficiency gains to strengthen performance.
The document is a summary of WEG's Q3 2009 conference call discussing financial results. It notes that while the downturn was swift, recovery is gradual. Gross revenues were down 14% year-over-year due to impacts across markets, though margins are recovering faster through improved efficiency. Quarterly highlights show decreases in gross operating revenue but increases in gross margin and net income. Cost reductions and mix improvements helped profitability. Cash generation was strong and debt levels decreased. Capacity expansion investments continued with strict controls to maximize returns. Contact information is provided for further questions.
The document is the transcript from Dow Chemical's 1Q 2009 earnings conference call held on April 30, 2009. In the call, Dow Chemical discusses its recent achievements including renegotiating financing for the Rohm and Haas acquisition and announcing a plan to sell assets to strengthen its balance sheet. Dow also discusses its 1Q 2009 financial results, cost reduction efforts, and integration progress for the Rohm and Haas acquisition.
The document provides an overview of a global supplier of emission and ride control systems, including financial performance, strategic initiatives to drive growth, new product pipelines, opportunities in emerging markets, and efforts to reduce costs through restructuring and lean manufacturing. It outlines the company's plan to achieve double-digit revenue growth through capturing demand for new emissions technologies, expanding in Asia and with growing automakers. The company also aims to enhance profitability by introducing new aftermarket products and optimizing its global manufacturing footprint.
Similar to Q1 2009 Earning Report of Honeywell International Inc. (20)
Daimler reported its Q3 2009 results, with the automotive market continuing to experience a slump. Key points include:
- Group sales were €19.3 billion in Q3, with an EBIT of €0.5 billion excluding special items.
- Mercedes-Benz Cars achieved a positive EBIT of €355 million in Q3 due to the availability of new models and cost measures.
- Daimler Trucks reported an EBIT loss of €127 million in Q3 due to weak demand and charges from repositioning.
- Daimler aims to further improve earnings in Q4 through new models and ongoing efficiency programs.
A. Schulman reported fiscal fourth-quarter and full-year 2009 results, with strong margins and excellent liquidity. For the quarter, gross margins reached 16.3% compared to 12.1% last year. North America approached break-even despite lower volumes. Cash on hand exceeded $228 million with over $300 million available in credit lines. For the full year, net sales were $1.28 billion, down 35.5% from last year. Gross margins increased to 13.3% from 11.8% last year, and income from continuing operations was $11.2 million.
BB&T Corporation presented its fourth quarter 2009 investor presentation. The presentation highlighted BB&T's strategic acquisition of Colonial Bank, which enhanced its franchise in key Southeastern markets. The Colonial transaction was deemed financially attractive and expected to be accretive to earnings, exceeding BB&T's merger criteria. BB&T has a proven track record of successfully integrating acquisitions and anticipated achieving annual cost savings of $170 million from the Colonial deal.
Brown & Brown Inc. reported a 1% increase in net income for the third quarter of 2009 compared to the same period in 2008. Total revenue decreased 1% for the quarter. Net income for the first nine months of 2009 was up slightly compared to the same period last year, while total revenue increased slightly. The company stated that results reflected a challenging operating environment with declines in insurable exposure units and soft market rates.
Boston Scientific reported financial results for the third quarter of 2009. Net sales increased 3% to $2.025 billion and adjusted EPS was $0.19. Reported GAAP EPS was $0.13. The company maintained its leadership in the worldwide DES market with a 41% share. Worldwide CRM product sales increased 8% and Endosurgery sales increased 8%. Guidance for Q4 2009 estimates net sales of $2.025-$2.125 billion and adjusted EPS of $0.17-$0.21. Full year 2009 guidance estimates net sales of $8.134-$8.234 billion and adjusted EPS of $0.75-$0.79.
Boston Scientific reported financial results for the third quarter of 2009. Net sales increased 3% to $2.025 billion and adjusted EPS was $0.19. Reported GAAP EPS was $0.13. The company maintained its leadership in the worldwide DES market with a 41% share. Worldwide CRM product sales increased 8% and Endosurgery sales increased 8%. Guidance for Q4 2009 estimates net sales of $2.025-$2.125 billion and adjusted EPS of $0.17-$0.21. Full year 2009 guidance estimates net sales of $8.134-$8.234 billion and adjusted EPS of $0.75-$0.79.
This document is Atheros Communications' quarterly report filed with the SEC for the quarter ended September 30, 2009. It includes Atheros' condensed consolidated financial statements, with assets of $676 million and liabilities of $103 million. It also provides management's discussion of the company's financial condition and operating results, and discusses risks including the economic downturn and competition in the wireless LAN market. The report includes certifications of the CEO and CFO regarding financial controls.
- The document is Apple Inc.'s Form 10-Q quarterly report filed with the SEC for the quarter ended June 27, 2009.
- It provides Apple's condensed consolidated financial statements and notes to the financial statements for the quarter.
- The financial statements show that Apple's net sales increased 12% to $8.3 billion for the quarter compared to $7.5 billion in the same quarter the previous year, while net income increased 15% to $1.2 billion from $1.1 billion.
Hancock Holding Company announced its financial results for the third quarter of 2009. Net income increased 10.7% from the previous quarter to $15.2 million. Key factors were lower loan loss provisions and an expanded net interest margin. Non-performing assets rose slightly while net charge-offs decreased. Total assets declined 3.4% but the company remained well capitalized, with tangible equity ratio rising to 8.71%.
This document provides an agenda and highlights for Walgreen Co.'s 4th quarter and fiscal year 2009 conference call with investors. It includes introductions, a discussion of 4Q and FY performance and strategies, financial results, and a Q&A session. Key metrics highlighted are 7.6% sales growth and a 1.5% decline in net earnings for 4Q, and 7.3% sales growth and a 7% decline in net earnings for FY2009. The document also outlines Walgreen's strategies around healthcare reform, the flu season, and expanding their business model.
1) Infosys Technologies reported financial results for the quarter ending September 30, 2009, with revenues of $1.154 billion, a 5.1% decline from the previous year. Net income was $317 million, a 0.9% decline.
2) For the quarter ending December 31, 2009, Infosys expects revenues between $1.155-1.165 billion, a 1.4-0.5% decline from the previous year, and earnings per share of $0.50, a 13.8% decline.
3) For the full fiscal year ending March 31, 2010, Infosys expects revenues between $4.60-4.62 billion, a 1
Marriott International reported financial results for the third quarter of 2009. Key highlights include:
- Revenue declined to $2.5 billion compared to $3 billion in Q3 2008 due to weaker demand.
- Net income declined 57% to $53 million compared to the prior year.
- REVPAR declined 23.5% worldwide and 20.6% in North America.
- The company added 79 new properties and expects to open over 33,000 new rooms in 2009.
PepsiCo held its 2009 Q3 earnings call on October 8, 2009. In the call, PepsiCo reaffirmed its guidance for 2009 of mid-to-high single digit constant currency net revenue and core EPS growth. PepsiCo also set a 2010 target of 11-13% core constant currency EPS growth, assuming the closing of acquisitions of PBG and PAS in early 2010. PepsiCo reported 5% constant currency net revenue growth and 8% core constant currency EPS growth in Q3 2009. PepsiCo highlighted investments planned for 2010 in areas such as R&D, emerging markets, brands, IT infrastructure, sustainability, and developing its employees.
- Alcoa held its 3rd quarter 2009 earnings conference call on October 7, 2009
- The call discussed Alcoa's financial results for the 3rd quarter of 2009 as well as the current state and outlook of the aluminum market
- Key highlights included income from continuing operations of $73 million, revenue up 9% sequentially, and initiatives offsetting currency and energy headwinds
The Pepsi Bottling Group reported third quarter 2009 results. Comparable diluted EPS was $1.06 and reported diluted EPS was $1.14. Currency neutral operating income grew 10% compared to the prior year on a comparable basis, while reported operating income declined 4% due to foreign exchange impacts. The company remains on track to achieve full-year 2009 guidance of $2.30-$2.40 diluted EPS at the high end of the range and has raised operating free cash flow guidance to approximately $550 million.
- Jean Coutu Group reported an increase in sales and revenues for the second quarter of 2010 compared to the same period last year. Total sales increased 7.7% to $549 million while revenues from franchising increased 7.3% to $608.7 million.
- Net earnings for the quarter were $14.9 million compared to a net loss of $39.1 million in the previous year. Earnings per share were $0.07 compared to a loss per share of $0.16 last year.
- Rite Aid also reported financial results for the second quarter, with revenues of $6.3 billion and a net loss of $116 million. Rite Aid revised its guidance
Minerva plc presented preliminary results for the year ended 30 June 2009. Key points included successfully restructuring and extending £750 million in loan facilities with no scheduled maturities in the current or next fiscal year. Development projects such as The Walbrook and St. Botolphs were on time and on budget. Tenant interest was improving for office developments in London's financial district despite a difficult real estate market.
This document is Worthington Industries' quarterly report filed with the SEC for the quarter ended August 31, 2009. It includes financial statements and notes for the quarter, as well as a discussion of financial results by management. Some key details include:
- Net sales for the quarter were $417.5 million, down from $913.2 million in the prior year quarter. The company reported a net loss of $4.5 million compared to net income of $79.7 million in the previous year.
- Inventories totaled $232.9 million as of August 31, 2009, down from $270.6 million as of May 31, 2009 as the company worked to reduce inventory levels.
The document provides the agenda and highlights from Walgreen Co.'s 4th quarter and fiscal year 2009 conference call with analysts held on September 29, 2009. It discusses 4th quarter and fiscal year financial results including net sales growth of 7.6% and 7.3% respectively, adjusted earnings per share of $0.44 and $2.02, and prescription sales growth. The document also summarizes Walgreen's strategies around healthcare reform, the H1N1 flu pandemic, expanding health services and 90-day prescriptions to lower costs.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
South Dakota State University degree offer diploma Transcriptynfqplhm
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13 Jun 24 ILC Retirement Income Summit - slides.pptxILC- UK
ILC's Retirement Income Summit was hosted by M&G and supported by Canada Life. The event brought together key policymakers, influencers and experts to help identify policy priorities for the next Government and ensure more of us have access to a decent income in retirement.
Contributors included:
Jo Blanden, Professor in Economics, University of Surrey
Clive Bolton, CEO, Life Insurance M&G Plc
Jim Boyd, CEO, Equity Release Council
Molly Broome, Economist, Resolution Foundation
Nida Broughton, Co-Director of Economic Policy, Behavioural Insights Team
Jonathan Cribb, Associate Director and Head of Retirement, Savings, and Ageing, Institute for Fiscal Studies
Joanna Elson CBE, Chief Executive Officer, Independent Age
Tom Evans, Managing Director of Retirement, Canada Life
Steve Groves, Chair, Key Retirement Group
Tish Hanifan, Founder and Joint Chair of the Society of Later life Advisers
Sue Lewis, ILC Trustee
Siobhan Lough, Senior Consultant, Hymans Robertson
Mick McAteer, Co-Director, The Financial Inclusion Centre
Stuart McDonald MBE, Head of Longevity and Democratic Insights, LCP
Anusha Mittal, Managing Director, Individual Life and Pensions, M&G Life
Shelley Morris, Senior Project Manager, Living Pension, Living Wage Foundation
Sarah O'Grady, Journalist
Will Sherlock, Head of External Relations, M&G Plc
Daniela Silcock, Head of Policy Research, Pensions Policy Institute
David Sinclair, Chief Executive, ILC
Jordi Skilbeck, Senior Policy Advisor, Pensions and Lifetime Savings Association
Rt Hon Sir Stephen Timms, former Chair, Work & Pensions Committee
Nigel Waterson, ILC Trustee
Jackie Wells, Strategy and Policy Consultant, ILC Strategic Advisory Board
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
2. Forward Looking Statements
This report contains “forward-looking statements” within the meaning of Section
21E of the Securities Exchange Act of 1934. All statements, other than
statements of fact, that address activities, events or developments that we or
our management intend, expect, project, believe or anticipate will or may occur
in the future are forward-looking statements. Forward-looking statements are
based on management’s assumptions and assessments in light of past
experience and trends, current economic and industry conditions, expected
future developments and other relevant factors. They are not guarantees of
future performance, and actual results, developments and business decisions
may differ from those envisaged by our forward-looking statements. Our
forward-looking statements are also subject to risks and uncertainties, which
can affect our performance in both the near- and long-term. We identify the
principal risks and uncertainties that affect our performance in our Form 10-K
and other filings with the Securities and Exchange Commission.
1Q 2009 Earnings Release
2
April 24, 2009
3. Overview
• 1Q Results In Line
– $7.6B Sales, $0.54 Earnings Per Share, $232M Free Cash Flow
– Tougher End-Market Conditions
– FY09 EPS Outlook $2.85 - $3.20
• Benefiting From Productivity Actions
– Executing Repositioning Projects
– HOS, FT, VPD™ Benefits
– Fixed Cost, Discretionary Spend, Investment Prioritization Focus
• Continued Seed Planting
– Repositioning: $44 Million ($0.04 EPS) Actions in 1Q
– Technology: SmartPathTM Ground-Based Augmentation System
– Energy Efficiency: US Army Corps of Engineers Contract
Tougher Conditions, Aggressive Cost Actions
1Q 2009 Earnings Release
3
April 24, 2009
5. Market Assumptions Update
2009 February 23 Current
Business
Drivers Update Update
Flight Hours (2)% (4)%
AT&R
OE Deliveries 0% to 5% 0% to 5%
TFE Flight Hours (15)% (15)%
B&GA
OE Deliveries (5)% to (10)% (25)%+
Defense DOD Budget 3% 3%
US/EU Housing Sales No Recovery No Recovery
US/EU Non-Res Downturn Downturn
ACS – Developed
Retrofit / Regulation Stable Stable
Industrial Cap/Op Ex Cautious Weakening
Res Soft; Non-
ACS – Emerging New Construction Moderating
Res Stable
Europe Auto Sales (15)% to (20)% (15)% to (20)%
Turbocharging Europe Diesel Penetration (1) pts (5) pts
Small Engine Shift (4) pts (6) pts
UOP Refining / Gas / Petrochem Slowing Slowing
Biggest Changes: Commercial Aero, Europe Turbo
1Q 2009 Earnings Release
5
April 24, 2009
6. Aerospace
Financial Highlights
($M)
1Q08 1Q09 V
Sales $ 3,030 $ 2,759 (9)% • Sales down 9%, Organic (ex. CS) down 5%
- Air Transport & Regional down 17%,
Segment 563 488 (13)% Organic down 7%
Profit
OE (24)%, flat Organic
Margin 18.6% 17.7% (90) bps
Aftermarket (11)% (Flight Hours down 4.5%)
- Business & General Aviation down 19%
OE (14)%
Business Highlights Aftermarket (25)%
- Defense & Space up 4%
+ Strong Defense & Space Performance
• Segment Profit down 13%
+ Cost Actions
90 bps Margin Contraction
– AT&R Flight Hours - Further Declines
+ Productivity, Net
– B&GA OE – Significant Customer
– Mix
Reschedules
– Volume
Executing In Difficult Environment
1Q 2009 Earnings Release
6
April 24, 2009
7. Automation And Control Solutions
Financial Highlights
($M)
1Q08 1Q09 V
• Sales down 6%
Sales $ 3,180 $ 3,001 (6)%
(3)% Organic
Segment 328 311 (5)% +7% Acquisition Impact
(9)% F/X Impact
Profit
Margin 10.3% 10.4% 10 bps - Products down 5%
(8)% Organic
Challenging March Conditions
- Solutions down 6%
Business Highlights
+5% Organic
Growth Across All Regions
+ Solutions Backlog Execution (4)% Organic Orders
+ Cost Actions
• Segment Profit down 5%
+ Europe flat, Asia up Organically
10 bps Margin Expansion
– Solutions Orders Delays + Productivity, Net
– Products 1Q Exit Rates – Volume
– Product / Solutions Mix
Good Results Despite Slowing Growth
1Q 2009 Earnings Release
7
April 24, 2009
8. Transportation Systems
Financial Highlights
($M)
1Q08 1Q09 V
Sales $ 1,276 $ 756 (41)% • Sales down 41%
F/X Impact (6)%
Segment 149 (3) (102)%
- Turbo down 53%
Profit
Lower Passenger and Commercial
Margin 11.7% (0.4)% (1210) bps Production Volumes; European Consumer
Shift
- CPG down 3%
Volume Growth More Than Offset By Pass-
Business Highlights
Through of Raw Material Declines
- Friction Materials down 35%
+ Cost Actions
Volume and FX
+ CPG Performance
– Weak Global OE Production • Segment Profit down 102%
1210 bps Margin Contraction
– Turbo Customer Launch Delays
+ Productivity, Net
– Consumer Shift Impacting Penetration
– Turbo Volume
Unprecedented Turbo Declines
1Q 2009 Earnings Release
8
April 24, 2009
9. Specialty Materials
Financial Highlights
($M)
1Q08 1Q09 V
Sales $ 1,409 $ 1,054 (25)% • Sales down 25%
- UOP down 27%
Segment 265 125 (53)%
Tough catalyst sales comparison with
Profit
1Q08
Margin 18.8% 11.9% (690) bps
- Resins and Chemicals down 35%
Strong volume offset by formula pricing
impacts
Business Highlights - Specialty Products down 24%
Weak Electronic Materials
+ Cost Actions
• Segment Profit down 53%
+ R&C Ammonium Sulfate Volumes
690 bps Margin Contraction
– UOP Comparisons
+ Productivity
– Semiconductor Segment Demand – Volume
– UOP Mix
UOP Comparisons, Formula Pricing Impacts
1Q 2009 Earnings Release
9
April 24, 2009
10. 2009 Financial Outlook
2009
Guidance
($B)
Aerospace $ 11.5 - 11.9
ACS 12.8 - 13.1
Transportation 3.2 - 3.4
Specialty Materials 4.6 - 4.7
Total Sales $ 32.3 - 33.2
Aerospace $ 2.0 2.2
-
ACS 1.4 1.5
-
Transportation 0.1 0.2
-
Specialty Materials 0.6 0.6
-
Total Segment Profit $ 4.1 4.4
-
Net Income $ 2.2 2.4
-
EPS $ 2.85 3.20
-
Free Cash Flow > 100% Net Income
Reflects Market Conditions
1Q 2009 Earnings Release
10 Excludes impact of acquisition related costs (FAS 141(R)) April 24, 2009
12. Summary
• 1Q Results In Line
– Additional $44M Repositioning Funded
• Adjusting 2009 Outlook to Reflect Market Declines
– Commercial Aerospace (AT&R Flight Hours, Business Jet OE)
– Transportation Systems (European OE)
• Organization Committed to Cost and Earnings Delivery
– FY09 EPS Outlook $2.85 - $3.20
Tougher Conditions, Aggressive Cost Actions
1Q 2009 Earnings Release
12
April 24, 2009
13. Appendix
Reconciliation of non-GAAP Measures
to GAAP Measures
1Q 2009 Earnings Release
13
April 24, 2009
14. Reconciliation of Segment Profit to Operating Income and
Calculation of Segment Profit and Operating Income Margin
1Q08 1Q09
($M )
Sales $8,895 $7,570
Cost of Products and Services Sold (6,672) (5,756)
Selling, General and Administrative Expenses (1,255) (1,152)
Operating Income $968 $662
Stock Based Compensation (1) 41 42
(1, 2)
Repositioning and Other 213 117
(1)
Pension and OPEB Expense 27 55
Segment Profit $1,249 $876
Operating Income $968 $662
÷ Sales $8,895 $7,570
Operating Income Margin % 10.9% 8.7%
Segment Profit $1,249 $876
÷ Sales $8,895 $7,570
Segment Profit Margin % 14.0% 11.6%
(1 Included in co st o f pro ducts and services so ld and selling, general and administrative expenses
)
(2) Includes repo sitio ning, asbesto s, enviro nmental expenses and equity inco me (beginning 1 /2008)
/1
1Q 2009 Earnings Release
14
April 24, 2009
15. Reconciliation of Free Cash Flow to Cash Provided by Operating
Activities and Calculation of Cash Flow Conversion
1Q08 1Q09
($M )
Cash Provided by Operating Activities $721 $341
Expenditures for Property, Plant and Equipment (150) (109)
Free Cash Flow 571 232
Cash Provided by Operating Activities $721 $341
÷ Net Income 643 397
Operating Cash Flow Conversion % 112% 86%
Free Cash Flow $571 $232
÷ Net Income 643 397
Free Cash Flow Conversion % 89% 58%
1Q 2009 Earnings Release
15
April 24, 2009
16. Reconciliation of Segment Profit to Operating Income and
Calculation of Segment Profit and Operating Income Margin
2008 2009E
($B)
Sales $36.6 $32.3 - $33.2
Cost of Products and Services Sold (28.0) (24.4) - (24.9)
Selling, General and Administrative Expenses (5.0) (4.4) - (4.6)
Operating Income $3.6 $3.5 - $3.7
Stock Based Compensation (1) 0.1 ~0.1
Repositioning and Other (1, 2) 1.0 0.3 - 0.4
Pension and OPEB Expense (1) 0.1 ~0.2
Segment Profit $4.8 $4.1 - 4.4
Operating Income $3.6 $3.5 - $3.7
÷ Sales $36.6 $32.3 - $33.2
Operating Income Margin % 9.8% ~11.0%
Segment Profit $4.8 $4.1 - 4.4
÷ Sales $36.6 $32.3 - $33.2
Segment Profit Margin % 13.3% 12.8 - 13.4%
(1 Included in co st o f pro ducts and services so ld and selling, general and administrative expenses
)
(2) Includes repo sitio ning, asbesto s, enviro nmental expenses and equity inco me (beginning 1 /2008)
/1
1Q 2009 Earnings Release
16
April 24, 2009