- Net revenue for the fourth quarter of fiscal 2017 was $602 million, an increase of 6% from the same quarter last year. Earnings per share excluding special items was $0.63, an increase of 29% from the previous year.
- The company returned $169 million to shareholders in the form of dividends ($93 million) and stock repurchases ($76 million). Trailing twelve month free cash flow was $784 million, or 34% of revenue.
- Guidance for the first quarter of fiscal 2018 forecasts revenue between $555-595 million and earnings per share between $0.52-0.58 excluding special items. End market demand is expected to decline in automotive, industrial
SGS 2021 Full Year Results Alternative Performance MeasuresSGS
We've delivered a strong financial performance in 2021, making significant progress on our new strategic plan.
#SGS #SGSGroup #WeAreSGS #FinancialResults
A solid first half; strong operations, strong cash flow. #BP has announced its #financial #results for the second quarter and half year of 2017.
The main points of the results are:
• Underlying replacement cost (RC) #profit for the second quarter was $0.7 billion.
• Second-quarter operating #cash flow, excluding Gulf of Mexico oil spill payments, was $6.9 billion. Including these payments, operating cash flow for the quarter was $4.9 billion.
• #Dividend unchanged at 10 cents per share.
• Second-quarter Upstream #production was 10% higher than in the same period in 2016; first-half production was 6% higher.
• Upstream major projects on track; two new projects sanctioned in quarter; significant #gas discoveries in #Senegal and #Trinidad announced; $753 million exploration write-off, predominantly in #Angola.
• In Downstream, first-half #fuels marketing earnings around 20% higher than in the first half of 2016.
SGS 2022 Full Year Results Alternative Performance Measures ReportSGS
This document presents and defines the Group’s alternative performance measures (APMs), not defined by IFRS which are used
to evaluate financial and operational performance. Where relevant, a reconciliation to the information included in our IFRS consolidated
financial statements is presented. Management deems these performance measures as a useful source of information when taking
strategic decisions and managing the operations. These APMs are disclosed in the annual report, the half year report and other external
communications to investors, as well as available under: www.sgs.com/en/our-company/investor-relations/reports-and-presentations
Rexnord Corporation (RXN) First Quarter Fiscal Year 2017 Earnings Release Rexnord
1Q results in line on operating basis Net sales decline 3%, including 2% drag from RHF product line exit –core sales(1)decline 1% S(1)f$$fff Adjusted EPS(1)of $0.35 includes $0.03 per share from timing of tax benefit Closed acquisition of Cambridge, enhancing consumer-facing end-market exposure Reduced outstanding debt by $100 million, eliminating all principal repayments before maturity WMfldddjii Water Management reflects steady nonresdemand, project timing Favorable growth outlook continues for US nonresidential construction end markets Investing in key new product introductions scheduled over coming 6-18 months Process & Motion Control core growth comparison improves Global aftermarket revenue increases as industrial distribution sell-through stabilizes Cambridge delivers solid contribution in initial quarter, integration on track Re-affirming guidance for fiscal 2017 Adjusted EPS of $1.47-1.57 End markets generally consistent with expectations –impact of weaker markets diminishing Supply chain optimization & footprint repositioning on track to deliver $30 million annual savings
2. Safe Harbor
2
This presentation contains forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements include, without limitation, the Company’s projections and statements
regarding revenue, gross margin, earnings per share, capital expenditures and other financial and business
metrics. These statements involve risks and uncertainties that could cause actual results to differ
materially from expectations. Please refer to the Company’s Annual Report on Form 10-K for the fiscal
year ended June 25, 2016 for a description of some of the risk factors that could cause actual results to
differ materially from such forward-looking statements.
All forward-looking statements included in this presentation are made as of the date hereof and based on
the information available to the Company as of the date hereof. The Company assumes no obligation to
update any forward-looking statement.
3. Fiscal 2017 Fourth Quarter Results Summary
• Net Revenue of $602 million
• Gross Margin of 67.2% (excluding special items); 65.4% (GAAP)
• Earnings Per Share of $0.63 (excluding special items); $0.57 (GAAP)
• Returned $169 million to shareholders
• Dividend payout: $93 million
• Stock repurchases: $76 million
• TTM1 Free Cash Flow of $784 million, 34% of TTM revenue
• Quarterly dividend increased 9% to $0.36 per share
3
1TTM: Trailing Twelve Months
Note: Free Cash Flow = Cash Flow from Operations – Net Capital Expenditures
Net Capital Expenditures = Gross Capital Expenditures – Asset Sales
5. $738M
$784M
Fiscal 2017 Fourth Quarter Results vs. Last Year
5
$566M
$602M
+6%
FY16 Q4 FY17 Q4
Revenue Earnings per Share
(Excluding Special Items2)
TTM1 Free Cash Flow3
1TTM: Trailing Twelve Months
2Special Items definition in appendix
3Free Cash Flow: Cash Flow from Operations – Net Capital Expenditures
Net Capital Expenditures: Gross Capital Expenditures – Asset Sales
FY16 Q4 FY17 Q4
+6%
$0.49
$0.63+29%
FY16 Q4 FY17 Q4
6. Automotive Industrial Comms &
Data Center
Consumer Computing
FY16 Q4 and FY17 Q4 Revenue*
Fiscal 2017 Fourth Quarter Results by End Market
6
20%
29%
21%
25%
5%
FY17 Q4 Revenue: $602M
Consumer
Automotive
Industrial
Communications & Data Center
Computing
Note: Due to nature of our general purpose products, estimates by Major Markets are imprecise
*FY17 Q4 YoY Revenue Growth without accounting transition: Automotive +11%, Industrial +12%, Comms & Data Center +3%, Consumer -12%, Computing +22%
+12%
+18%
+8%
-10%
+28%
7. Fiscal 2018 First Quarter Guidance
FY18 Q1 Guidance
Revenue $555M – $595M
Gross Margin
65% – 68% GAAP excl. Special Items2
(63% – 66% GAAP)
Earnings Per
Share
$0.52 – $0.58 GAAP excl. Special Items2
($0.48 – $0.54 GAAP)
Gross Capital
Expenditures
Target range
of 1 – 3% of revenue
7
2Special Items definition in Appendix
3 Excludes impact of FY17 Q4 revenue for transition to sell-in revenue accounting
Note: Maxim Integrated’s business outlook does not include the potential impact of any restructuring activity, acquisitions, or other business combinations that
may be completed during the quarter.
FY18 Q1 End Market Guidance vs. FY17 Q43
▪ Automotive: Down
▪ Industrial: Down
▪ Comms & Data Center: Down
▪ Consumer: Up
▪ Computing: Strongly Down
14. 14
Appendix
2Special Items: intangible asset amortization; accelerated depreciation; acquisition-related inventory write-up; impairment of long-lived assets;
impairment of goodwill and intangible assets; severance and restructuring; acquisition-related costs; contingent consideration adjustments
relating to certain acquisitions; expected loss on rent expense for vacated office space; loss related to sale of land and buildings; impairment of
investments in privately-held companies; tax provision impacts due to fixed asset tax basis adjustment relating to prior year depreciation
expense.
15. Reconciliation of GAAP vs. GAAP Excluding Special Items (Unaudited)
15
June 24, March 25, June 25, June 24, June 25,
2017 2017 2016 2017 2016
Reconciliation of GAAP gross profit to GAAP gross profit excluding special items:
GAAP gross profit 393,666$ 366,904$ 347,027$ 1,446,480$ 1,244,388$
GAAP gross profit % 65.4% 63.1% 61.3% 63.0% 56.7%
Special items:
Intangible asset amortization 11,064 11,064 11,829 46,485 55,030
Accelerated depreciation (1) — 1,103 4,098 3,459 53,827
Other cost of goods sold (2) — — — — 6,123
Total special items 11,064 12,167 15,927 49,944 114,980
GAAP gross profit excluding special items 404,730$ 379,071$ 362,954$ 1,496,424$ 1,359,368$
GAAP gross profit % excluding special items 67.2% 65.2% 64.1% 65.2% 61.9%
Reconciliation of GAAP operating expenses to GAAP operating expenses excluding
special items:
GAAP operating expenses 194,288$ 192,652$ 224,654$ 751,703$ 930,539$
Special items:
Intangible asset amortization 2,050 2,348 2,538 9,189 12,205
Impairment of long-lived assets (3) — 1,000 429 7,517 160,582
Impairment of goodwill and intangible assets — — 27,602 — 27,602
Severance and restructuring 1,175 450 4,149 12,453 24,479
Other operating expenses (income), net (4) 1,923 1,704 4,962 (22,944) (50,389)
Total special items 5,148 5,502 39,680 6,215 174,479
GAAP operating expenses excluding special items 189,140$ 187,150$ 184,974$ 745,488$ 756,060$
Reconciliation of GAAP net income (loss) to GAAP net income excluding special
items:
GAAP net income (loss) 163,309$ 140,213$ 92,339$ 571,613$ 227,475$
Special items:
Intangible asset amortization 13,114 13,412 14,367 55,674 67,235
Accelerated depreciation (1) — 1,103 4,098 3,459 53,827
Other cost of goods sold (2) — — — — 6,123
Impairment of long-lived assets (3) — 1,000 429 7,517 160,582
Impairment of goodwill and intangible assets — — 27,602 — 27,602
Severance and restructuring 1,175 450 4,149 12,453 24,479
Other operating expenses (income), net (4) 1,923 1,704 4,962 (22,944) (50,389)
Interest and other expense (income), net (5) (90) (48) (247) (5,661) 194
Pre-taxtotal special items 16,122 17,621 55,360 50,498 289,653
Fiscal year 2015 & 2014 research & development taxcredits — — — — (2,475)
Other income taxeffects and adjustments (6) 499 1,957 (7,228) (11,465) (43,392)
GAAP net income excluding special items 179,930$ 159,791$ 140,471$ 610,646$ 471,261$
GAAP net income per share excluding special items:
Basic 0.64$ 0.56$ 0.49$ 2.16$ 1.65$
Diluted 0.63$ 0.56$ 0.49$ 2.12$ 1.63$
Shares used in the calculation of earnings per share excluding special items:
Basic 282,747 282,903 285,354 283,147 285,081
Diluted 287,494 287,882 288,544 287,974 289,479
(2) Includes expense related to a patent license settlement.
(6) Includes taxeffect of pre-taxspecial items and miscellaneous taxadjustments.
Year Ended
(in thousands, except per share data)
ANALYSIS OF GAAP VERSUS GAAP EXCLUDING SPECIAL ITEMS DISCLOSURES
(Unaudited)
Three Months Ended
(1) Includes building and equipment accelerated depreciation related to the San Jose and Dallas manufacturing facilities.
(4) Includes gain on sale of micro-electromechanical systems (MEMS) business line during the first quarter of fiscal year 2017, gain on sale of energy metering business during the third quarter
of fiscal year 2016, loss (gain) relating to sale of assets, and expected loss on lease abandonment.
(3) Includes impairment of investments in privately-held companies and other equipment impairment charges relating to the San Antonio wafer manufacturing facility.
(5) Includes gain on sale of shares received for the sale of the wafer manufacturing facility in San Antonio, Texas.