Acme United Corporation reported financial results for the second quarter of 2009, with net sales decreasing 16% compared to the second quarter of 2008. Net income also declined, falling 22% compared to the previous year's second quarter. Gross margins declined due to fixed costs being spread over lower sales, a weaker Canadian dollar, and changes in product mix. While costs were reduced in many areas, the company continued funding new product development. The company's debt declined due to working capital reductions and earnings.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
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• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
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The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
1. FORM 8-K
ACME UNITED CORP - ACU
Filed: July 17, 2009 (period: July 17, 2009)
Report of unscheduled material events or corporate changes.
2. Table of Contents
8-K - FORM 8-K
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL
CONDITION.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
SIGNATURES
EXHIBIT INDEX
EX-99 (EXHIBIT 99.1)
3. ================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (date of earliest event reported): July 17, 2009
ACME UNITED CORPORATION
(Exact name of registrant as specified in its charter)
------------------
Connecticut 001-07698 06-0236700
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) file number) Identification No.)
60 Round Hill Road, Fairfield, Connecticut 06824
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (203) 254-6060
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[_] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
(1)
Source: ACME UNITED CORP, 8-K, July 17, 2009
4. ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On July 17, 2009, Acme United Corporation (the "Company") issued a press release
announcing its financial results for the quarter ended June 30, 2009. A copy of
the press release is attached as Exhibit 99.1 to this current report.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
Exhibit Number Description
-------------- -----------
99.1 Press release dated July 17, 2009.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ACME UNITED CORPORATION
By /s/ WALTER C. JOHNSEN
------------------------------
Walter C. Johnsen
Chairman and
Chief Executive Officer
Dated: July 17, 2009
By /s/ PAUL G. DRISCOLL
------------------------------
Paul G. Driscoll
Vice President and
Chief Financial Officer
Dated: July 17, 2009
(2)
Source: ACME UNITED CORP, 8-K, July 17, 2009
5. EXHIBIT INDEX
Exhibit Number Description
-------------- -----------
99.1 Press release dated July 17, 2009.
(3)
Source: ACME UNITED CORP, 8-K, July 17, 2009
6. EXHIBIT 99.1
ACME UNITED CORPORATION NEWS RELEASE
--------------------------------------------------------------------------------
CONTACT: Paul G. Driscoll
Acme United Corporation
60 Round Hill Road Fairfield, CT 06824
Phone: (203) 254-6060 FAX: (203) 254-6521
--------------------------------------------------------------------------------
FOR IMMEDIATE RELEASE July 17, 2009
-------------------------------------
ACME UNITED CORPORATION REPORTS 15% DECLINE IN SECOND QUARTER EARNINGS PER SHARE
FAIRFIELD, CONN. - July 17, 2009 - Acme United Corporation (NYSE
AMEX:ACU) today announced that net sales for the second quarter ended June 30,
2009 were $19.2 million, compared to $22.7 million in the comparable period of
2008, a decrease of 16% (13% in local currency). Net income was $1,341,000, or
$.40 per diluted share, for the quarter ended June 30, 2009, compared to
$1,730,000 or $.47 per diluted share for the comparable period last year, a
decrease of 22% in net income and 15% in diluted earnings per share.
Net sales for the six months ended June 30, 2009 were $30.5 million,
compared to $37.0 million in the same period in 2008, a decrease of 18% (14% in
local currency). Net income for the six months ended June 30, 2009 was
$1,383,000, or $.41 per diluted share, compared to $2,482,000, or $.68 per
diluted share in the comparable period last year, a 44% decrease in net income
and 40% in diluted earnings per share. The lower net income is primarily the
result of lower sales, partially offset by savings resulting from our cost
savings plan.
Net sales for the quarter ended June 30, 2009 in the U.S. segment
decreased 17% compared to the same period in 2008. Net sales for the six months
ended June 30, 2009 in the U.S. segment decreased 19% compared to the same
period in 2008. Net sales in Canada for the three and six months ended June 30,
2009 decreased by 12% and 17%, respectively, in U.S. dollars but declined
approximately 1% for both periods respectively, in local currency compared to
the same periods in 2008. European net sales for the three and six months ended
June 30, 2009 decreased 3% and 5%, respectively, in U.S. dollars compared to the
same periods in 2008 but increased 11% and 9% respectively, in local currency.
Sales in Europe increased (in local currency) primarily due to increased
distribution of manicure products.
(1)
Source: ACME UNITED CORP, 8-K, July 17, 2009
7. Gross margins were 37.1% in the second quarter of 2009 versus 39.3% in
the comparable period last year. For the first six months of 2009, gross margins
were 37.4% compared to 40.3% in the same period in 2008. The gross margin
decline for the three and six month periods was primarily due to fixed costs
spread over lower sales, the weaker Canadian dollar which raised the cost of
products in our Canadian segment and product mix.
Walter C. Johnsen, Chairman and CEO said, "Our sales have been impacted
by weak demand due to the economic downturn. We have reduced costs in many
areas, but continue to fund new product development. The earnings in the second
quarter reflect aggressive attention to costs. Our debt has declined due to
working capital reductions and earnings. We believe we are well positioned to
take advantage of market opportunities during the coming quarters."
The Company's bank debt less cash on June 30, 2009 was $8.9 million
compared to $11.3 million on June 30, 2008. During the 12 month period ended
June 30, 2009, Acme purchased 208,065 shares of its common stock for
approximately $1.9 million and paid $700,000 in dividends. As of June 30, 2009,
there were 124,335 shares that may be purchased under the outstanding stock
repurchase programs.
ACME UNITED CORPORATION is a leading worldwide supplier of innovative
cutting, measuring and safety products to the school, home, office and
industrial markets.
Forward-looking statements in this report, including without
limitation, statements related to the Company's plans, strategies, objectives,
expectations, intentions and adequacy of resources, are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties including, without limitation, the following: (i) the Company's
plans, strategies, objectives, expectations and intentions are subject to change
at any time at the discretion of the Company; (ii) the impact of current
uncertainties in global economic conditions and the ongoing financial crisis
affecting the domestic and foreign banking system and financial markets,
including the impact on the Company's suppliers and customers (iii) currency
fluctuations (iv) the Company's plans and results of operations will be affected
by the Company's ability to manage its growth, and (v) other risks and
uncertainties indicated from time to time in the Company's filings with the
Securities and Exchange Commission.
# # #
(2)
Source: ACME UNITED CORP, 8-K, July 17, 2009
8. ACME UNITED CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
SECOND QUARTER REPORT 2009
(Unaudited)
Quarter Ended Quarter Ended
Amounts in $000's except per share data June 30, 2009 June 30, 2008
--------------------------------------------------------------------------------------------------------------
Net sales $ 19,161 $ 22,708
Cost of goods sold 12,056 13,790
---------------- ----------------
Gross profit 7,105 8,918
Selling, general, and administrative expenses 5,086 6,121
---------------- ----------------
Income from operations 2,019 2,797
Interest expense (44) (121)
Interest income 31 31
---------------- ----------------
Net interest expense (13) (90)
Other income (expense) 30 (24)
---------------- ----------------
Total other income (expense) 17 (114)
Pre-tax income 2,036 2,683
---------------- ----------------
Income tax expense 695 953
---------------- ----------------
Net income $ 1,341 $ 1,730
================ ================
Shares outstanding - Basic 3,325 3,518
Shares outstanding - Diluted 3,388 3,665
Earnings per share basic $ 0.40 $ 0.49
Earnings per share diluted 0.40 0.47
(3)
Source: ACME UNITED CORP, 8-K, July 17, 2009
9. ACME UNITED CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
SECOND QUARTER REPORT 2009 (cont.)
(Unaudited)
Six Months Ended Six Months Ended
Amounts in $000's except per share data June 30, 2009 June 30, 2008
--------------------------------------------------------------------------------------------------------------
Net sales $ 30,458 $ 36,977
Cost of goods sold 19,056 22,073
---------------- ----------------
Gross profit 11,402 14,904
Selling, general, and administrative expenses 9,302 11,039
---------------- ----------------
Income from operations 2,100 3,865
Interest expense (86) (255)
Interest income 66 69
---------------- ----------------
Net interest expense (20) (186)
Other income 19 162
---------------- ----------------
Total other (expense) (1) (24)
Pre-tax income 2,099 3,841
---------------- ----------------
Income tax expense 716 1,358
---------------- ----------------
Net income $ 1,383 $ 2,483
================ ================
Shares outstanding - Basic 3,336 3,519
Shares outstanding - Diluted 3,396 3,666
Earnings per share basic $ 0.41 $ 0.71
Earnings per share diluted 0.41 0.68
(4)
Source: ACME UNITED CORP, 8-K, July 17, 2009
10. ACME UNITED CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
SECOND QUARTER REPORT 2009
(Unaudited)
Amounts in $000's June 30, 2009 June 30, 2008
---------------------------------------------------------------------------------------------------------
Assets:
Current assets:
Cash $ 3,228 $ 3,703
Accounts receivable, net 18,467 20,852
Inventories 19,299 21,458
Prepaid and other current assets 961 1,121
-------------------- --------------------
Total current assets 41,955 47,134
Property and equipment, net 2,249 2,479
Long term receivable 1,919 -
Other assets 2,509 1,927
-------------------- --------------------
Total assets $ 48,632 $ 51,540
==================== ====================
Liabilities and stockholders' equity:
Current liabilities
Accounts payable $ 4,276 $ 6,623
Other current liabilities 6,131 4,631
Bank debt due June 30, 2010 12,122 -
-------------------- --------------------
Total current liabilities 22,529 11,253
Bank debt due June 30, 2010 - 14,992
Other non current liabilities 1,995 551
-------------------- --------------------
24,524 26,796
Total stockholders' equity 24,108 24,744
-------------------- --------------------
Total liabilities and stockholders' equity $ 48,632 $ 51,540
==================== ====================
(5)
_______________________________________________
Created by 10KWizard www.10KWizard.com
Source: ACME UNITED CORP, 8-K, July 17, 2009