Sigma Agriscience acquires agricultural solutions company AM-AG
HOUSTON, Jan. 19, 2018 /PRNewswire/ -- Sigma Agriscience, a manufacturer of granular biofertilizers and biostimulants, today announced the company has acquired a controlling interest in AM-AG, an international marketer and distributor of agriculture products with operations in Latin America and the U.S.
Spirit AeroSystems to Release Fourth Quarter and Full-Year 2017 Financial Results Feb. 2
WICHITA, Kan., Jan. 19, 2018 /CNW/ -- Spirit AeroSystems Holdings, Inc. [NYSE: SPR] will release its fourth quarter and full-year 2017 financial results at 6:30 a.m. Central Time Friday, Feb. 2, 2018.
Spirit AeroSystems to Release Fourth Quarter and Full-Year 2017 Financial Results Feb. 2
WICHITA, Kan., Jan. 19, 2018 /PRNewswire/ -- Spirit AeroSystems Holdings, Inc. [NYSE: SPR] will release its fourth quarter and full-year 2017 financial results at 6:30 a.m. Central Time Friday, Feb. 2, 2018.
2018 Charity Preview Generates $5.1M for Detroit Children's Charities
DETROIT, Jan. 19, 2018 /PRNewswire/ -- The heart of the Motor City and the soul of Motown took center stage tonight as nearly $5.1M was raised for children's charities at the 2018 North American International Auto Show's (NAIAS) Charity Preview at Cobo Center. In all, over 13,000 people attended the black-tie gala, recognized as the largest annual single-night fundraiser in the world. Sponsored by Axalta Coating Systems for the third consecutive year, Charity Preview has raised nearly $118M for southeastern Michigan children's charities since the Detroit Auto Dealers Association established the gala 42 years ago. "Earlier in the week, we saw a powerful lineup of products and leaders come together to advance our industry's mobility-focused future," said 2018 NAIAS Chairman Ryan LaFontaine. "Tonight, we see that same industry and our entire Motor City rally around the most vulnerable within our community." The event directly benefits a wide range of children's charities, helping to fund services for children of all ages from birth to 18. Beneficiaries of NAIAS Charity Preview include: Boys & Girls Clubs of Southeastern Michigan Boys Hope Girls Hope Detroit Children's Center The Children's Hospital of Michigan Foundation Detroit Auto Dealers Association Charitable Foundation Fund Detroit PAL Judson Center March of Dimes Metro Detroit The iconic group, The Four Tops, will help celebrate the night of kids, cars and Motown with a special performance on Cobo's Atrium stage at 9 p.m. The Detroit Auto Dealers Association (DADA) presented a $75,000 gift to the Motown Museum during The Four Tops' performance. Charity Preview builds on Preview Week's momentum of global vehicle and technology reveals and industry-shaping announcements. With an expanded AutoMobili-D showcase, featuring 240 brands with 57 startups, the exposition is a full overview of the automotive ecosystem under one roof. AutoMobili-D remains open at NAIAS for the first weekend of the Public Show for the Future Automotive Career Exposition, which starts tomorrow Jan. 20 at 9 a.m. and continues through Sunday, Jan. 28. Ticket prices and general show information, including transportation and parking can be found at naias.com. About the North American International Auto ShowNow in its 30th year as an international event, the NAIAS is among the most prestigious auto shows in the world, providing unparalleled access to the automotive products, technologies, people and ideas that matter most â up close and in one place. Administered by executive director Rod Alberts, the NAIAS is one of the largest media events in North America, and the only auto show in the United States to earn an annual distinguished sanction of the Organisation Internationale des Constructeurs d'Automobiles, the Paris-based alliance of automotive trade associations and manufacturers from around the world. For more information, visit naias.com. Follow us on Twitter, Facebook and Instagram for highlights and updates. 2018 NAIAS Dates: The Gallery â Saturday, January 13, 2018AutoMobili-D â Sunday-Sunday, January 14-21, 2018Press Preview â Sunday-Tuesday, January 14-16, 2018Industry Preview â Wednesday-Thursday, January 17-18, 2018 Charity Preview â Friday, January 19, 2018Public Show â Saturday-Sunday, January 20-28, 2018 View original content with multimedia:http://www.prnewswire.com/news-releases/2018-charity-preview-generates-51m-for-detroit-childrens-charities-300585543.html SOURCE North American International Auto Show
QNB Group: Financial Results for the Year Ended 31 December 2017
DOHA, Qatar--(BUSINESS WIRE)-- QNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the year ended 31 December 2017.
Citigroup Reports Fourth Quarter 2017 Financial Results
NEW YORK--(BUSINESS WIRE)-- Citigroup Inc. (NYSE: C)
MSC Reports Fiscal 2018 First Quarter Results
MELVILLE, N.Y. and DAVIDSON, N.C., Jan. 10, 2018 /PRNewswire/ --
Insteel Industries Reports First Quarter 2018 Results
MOUNT AIRY, N.C., Jan. 18, 2018 /PRNewswire/ -- Insteel Industries, Inc. (NasdaqGS: IIIN) today announced financial results for its first quarter ended December 30, 2017. First Quarter 2018 Results Net earnings for the first quarter of fiscal 2018 increased to $8.1 million, or $0.42 per diluted share, from $4.5 million, or $0.23 per share, in the same period a year ago. Insteel's earnings for the current year quarter benefited from a $3.7 million, or $0.19 per share gain on the remeasurement of deferred tax liabilities and a $0.5 million, or $0.03 per share reduction in income taxes related to the lower corporate tax rate enacted under the Tax Cuts and Jobs Act in December 2017. Excluding the deferred tax gain, Insteel's effective tax rate decreased to 24.9% from 33.7% in the prior year quarter reflecting the reduction in the federal statutory rate to 21% from 35% for the remaining three quarters of fiscal 2018. Insteel's first-quarter results were unfavorably impacted by narrower spreads between selling prices and raw material costs, partially offset by higher shipments and lower manufacturing costs on the higher production volume relative to the prior year quarter. Net sales increased 4.1% to $97.7 million from $93.9 million in the prior year quarter, reflecting a 1.3% increase in shipments and a 2.8% increase in average selling prices. Shipments increased 1.7% sequentially from the fourth quarter of fiscal 2017 while average selling prices decreased 0.8% due to competitive pricing pressures. Gross margin narrowed 200 basis points to 11.9% from 13.9% in the prior year quarter due to the reduction in spreads. Cash flow from operations increased to $14.8 million from $3.9 million in the prior year quarter primarily due to the relative changes in net working capital, which provided $4.7 million of cash while using $4.6 million in the prior year quarter. Capital Allocation and Liquidity Capital expenditures for the first quarter of fiscal 2018 increased to $6.1 million from $5.4 million in the prior year quarter. Capital outlays for fiscal 2018 are expected to total up to $21.0 million largely related to additional investments in engineered structural mesh manufacturing capabilities, the purchase of the leased Houston facility and further upgrades of production technology and information systems. Insteel ended the quarter debt-free with $37.2 million of cash and cash equivalents, and no borrowings outstanding on its $100.0 million revolving credit facility. Following the end of the quarter, on January 5, 2018 Insteel paid a special cash dividend totaling $19.0 million, or $1.00 per share, to shareholders of record as of December 20, 2017, marking the third consecutive year in which a special dividend has been paid. Outlook "We are encouraged by the improving demand trends during the first quarter following the weakness we experienced over the second half of fiscal 2017," commented H.O. Woltz III, Insteel's president and CEO. "As we move into the second quarter, however, we expect our results will be affected by the usual weather-related slowdown in construction activity. "Looking ahead to the remainder of fiscal 2018, the leading indicators for the construction sector are signaling continued growth which should drive improvement in our volumes, spreads and costs. We also expect to benefit from our recent acquisition of Ortiz Engineered Products as we intensify our efforts to penetrate the rebar market with the substitution of engineered structural mesh for cast-in-place applications and leverage our newly combined engineering and sales capabilities." Conference Call Insteel will hold a conference call at 10:00 a.m. ET today to discuss its first quarter financial results. A live webcast of this call can be accessed on Insteel's website at https://insteelgcs.gcs-web.com/ and will be archived for replay until the next quarterly conference call. About Insteel Insteel is the nation's largest manufacturer of steel wire reinforcing products for concrete construction applications. Insteel manufactures and markets PC strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement. Insteel's products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. Headquartered in Mount Airy, North Carolina, Insteel operates ten manufacturing facilities located in the United States. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "believes," "anticipates," "expects," "estimates," "appears," "plans," "intends," "may," "should," "could" and similar expressions are intended to identify forward-looking statements. Although we believe that our plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, they are subject to a number of risks and uncertainties, and we can provide no assurances that such plans, intentions or expectations will be implemented or achieved. Many of these risks and uncertainties are discussed in detail, and are updated from time to time in our filings with the U.S. Securities and Exchange Commission (the "SEC"), in particular in our Annual Report on Form 10-K for the year ended September 30, 2017. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All forward-looking statements speak only to the respective dates on which such statements are made and we do not undertake any obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect any future events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law. It is not possible to anticipate and list all risks and uncertainties that may affect our future operations or financial performance; however, they include, but are not limited to, the following: general economic and competitive conditions in the markets in which we operate; changes in the spending levels for nonresidential and residential construction and the impact on demand for our products; changes in the amount and duration of transportation funding provided by federal, state and local governments and the impact on spending for infrastructure construction and demand for our products; the cyclical nature of the steel and building material industries; credit market conditions and the relative availability of financing for us, our customers and the construction industry as a whole; fluctuations in the cost and availability of our primary raw material, hot-rolled steel wire rod, from domestic and foreign suppliers; competitive pricing pressures and our ability to raise selling prices in order to recover increases in raw material or operating costs; changes in United States or foreign trade policy affecting imports or exports of steel wire rod or our products; unanticipated changes in customer demand, order patterns and inventory levels; the impact of fluctuations in demand and capacity utilization levels on our unit manufacturing costs; our ability to further develop the market for engineered structural mesh ("ESM") and expand our shipments of ESM; potential difficulties that may be encountered in integrating the acquired assets of Ortiz Engineered Products, Inc. into our existing business and realizing the anticipated synergies; legal, environmental, economic or regulatory developments that significantly impact our operating costs; unanticipated plant outages, equipment failures or labor difficulties; and the "Risk Factors" discussed in our Annual Report on Form 10-K for the year ended September 30, 2017 and in other filings made by us with the SEC. INSTEEL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands except for per share data) (Unaudited) Three Months Ended December 30, December 31, 2017 2016 Net sales $ 97,741 $ 93,888 Cost of sales 86,080 80,878 Gross profit 11,661 13,010 Selling, general and administrative expense 5,763 6,264 Restructuring charges, net - 48 Other expense (income), net 19 (10) Interest expense 28 34 Interest income (76) (52) Earnings before income taxes 5,927 6,726 Income taxes (2,184) 2,266 Net earnings $ 8,111 $ 4,460 Net earnings per share: Basic $ 0.43 $ 0.23 Diluted 0.42 0.23 Weighted average shares outstanding: Basic 19,041 18,980 Diluted 19,224 19,209 Cash dividends declared per share $ 1.03 $ 1.28 INSTEEL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) (Unaudited) December 30, September 30, December 31, 2017 2017 2016 Assets Current assets: Cash and cash equivalents $ 37,336 $ 32,105 $ 57,020 Accounts receivable, net 39,769 40,284 44,155 Inventories 70,918 81,853 61,590 Other current assets 5,101 5,949 3,258 Total current assets 153,124 160,191 166,023 Property, plant and equipment, net 102,891 98,670 92,332 Intangibles, net 10,634 7,913 8,774 Goodwill 8,293 6,965 6,965 Other assets 9,698 9,334 8,463 Total assets $ 284,640 $ 283,073 $ 282,557 Liabilities and shareholders' equity Current liabilities: Accounts payable $ 30,992 $ 33,651 $ 29,001 Accrued expenses 5,411 8,667 8,394 Dividends payable 19,612 - 24,298 Total current liabilities 56,015 42,318 61,693 Other liabilities 16,515 17,379 15,888 Shareholders' equity: Common stock 19,041 19,041 18,985 Additional paid-in capital 70,052 69,817 68,056 Retained earnings 124,350 135,851 119,476 Accumulated other comprehensive loss (1,333) (1,333) (1,541) Total shareholders' equity 212,110 223,376 204,976 Total liabilities and shareholders' equity $ 284,640 $ 283,073 $ 282,557 INSTEEL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Three Months Ended December 30, December 31, 2017 2016 Cash Flows From Operating Activities: Net earnings $ 8,111 $ 4,460 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 3,176 3,018 Amortization of capitalized financing costs 16 16 Stock-based compensation expense 235 257 Deferred income taxes (2,069) 1,187 Loss on sale and disposition of property, plant and equipment 17 36 Increase in cash surrender value of life insurance policies over premiums paid (256) (73) Net changes in assets and liabilities (net of assets and liabilities acquired): Accounts receivable, net 515 3,234 Inventories 10,935 9,596 Accounts payable and accrued expenses (6,793) (17,412) Other changes 877 (425) Total adjustments 6,653 (566) Net cash provided by operating activities 14,764 3,894 Cash Flows From Investing Activities: Capital expenditures (6,080) (5,417) Acquisition of business (3,300) - Proceeds from surrender of life insurance policies 41 - Increase in cash surrender value of life insurance policies (194) (221) Net cash used for investing activities (9,533) (5,638) Cash Flows From Financing Activities: Proceeds from long-term debt 90 97 Principal payments on long-term debt (90) (97) Cash received from exercise of stock options - 35 Payment of employee tax withholdings related to net share transactions - (144) Net cash used for financing activities - (109) Net increase (decrease) in cash and cash equivalents 5,231 (1,853) Cash and cash equivalents at beginning of period 32,105 58,873 Cash and cash equivalents at end of period $ 37,336 $ 57,020 Supplemental Disclosures of Cash Flow Information: Cash paid during the period for: Income taxes, net $ (7) $ 44 Non-cash investing and financing activities: Purchases of property, plant and equipment in accounts payable 1,005 1,487 Declaration of cash dividends to be paid 19,612 24,298 Restricted stock units and stock options surrendered for withholding taxes payable - 144 IIIN â E View original content with multimedia:http://www.prnewswire.com/news-releases/insteel-industries-reports-first-quarter-2018-results-300582537.html SOURCE Insteel Industries, Inc.
Wealth Management: What All Investors Should Know About Investment Funds
Investment funds are one of the best-recommended options, while it approaches wealth management. They are widely available at a number of price points, making them ideal for investors while they are expert or novice in investment. Investors can choose to invest in funds, in the industries and products they are interested in. They also have the option of the funds that are timed according to their individual needs, especially if they are approaching retirement age.
Chart Patterns - Commodity Market
The chart pattern is one of the most important parts of commodity trade market. The main thing of technical analysis is the price patterns repeat itself which means pattern and setup are repeated function in the commodity market. This pattern gives us important clue about the direction of price movement in any commodity chart. By recognizing the chart pattern we can predict how price will move in near future. There are many types of chart pattern in this market, we can implement those pattern in our chart to improve our trading style. Most of the chart patterns work smoothly in the commodity market. There is a high probability that chart pattern will follow the past movement. This is why chat patterns tools are so much profitable tools in the commodity market. Though they have the high probability to work out in the real market but sometimes those patterns do not work in the commodity market. That’s why you have to be more concern about the chart patterns. When you are using chart pattern analysis you need to be alert all the time.
Investments – The Key To Your Financial Independence
July 4, 2017 /Kysha Wheeler/ -- Being a slave to debt or a lousy job is not exactly how we planned our adult lives. When we were kids we were all taught that working hard would pay off big time some day. Now, reality has sunk in and…. it sucks. Most jobs barely pay enough to cover the essentials and very few of us can afford to allow one pay check to meet the other. But all is not lost. With the very little we make, we can start earning real rewards if we master the fine art of making investments. Most millionaires will readily admit that investing wisely is the best option for individuals working to improve their finances.
5 Key Investing Stages To Help You Achieve Financial Freedom
Sept. 18, 2017 /Lydia Wanjiru/ -- If you want to succeed financially, you must invest. Plan your financial short-term and long-term goals and objectives. It is no brainer that every journey must have a destination. In your financial journey, you need to put into consideration a number of things to achieve your goals at the end of it. This guide will give you a number of steps to take to help you to achieve financial security. 1. Establish your financial position To invest requires you to save money. To decide how much and where to invest, you need to do the basic self-financial analysis. You need to answer a number of questions like: • How much money do you have? • What assets do you possess and how much are they bringing? • How much money do you owe in terms of mortgages, personal loans, student loans, credit cards among others? It also involves doing future financial projections and deviations. For example, will the income remain steady, increase or decrease? Are there financial variations you are likely to encounter in the future? It also includes doing a past performance analysis in regards to money. Consider whether you are a thrift spender or a miser, check how you handle risk and emergency situations. This analysis is meant to help you establish what habits to keep and what to let go of. To succeed in savings and investments, you need sacrifice and discipline. 2. Develop an investment plan There is an old adage that goes, “failure to plan is planning to fail”. Making a plan helps you to make SMART choices. You need to set clear goals and objectives and the timeline to achieve them. Investing SMART means being Specific on what you are aiming to achieve financially. Being able to ensure that the goals are Measurable and Achievable. Being Realistic and Relevant on your financial goals and also get Time-oriented goals. Develop a SWOT analysis. This involves analyzing your financial strengths, weaknesses, opportunities, and threats. When you put that into consideration, you are able to make sound financial decisions. 3. Find a financial expert to guide you on the best investments for you A financial expert can help streamline your saving and investment choices. It is also imperative to seek the advice of a financial expert to help you make the right choices that most fit you, to know the right investments to make and to set realistic financial goals for yourself. 4. Choose the best Investment After knowing what you want and where you want to go, it’s time to take the leap. This step involves diversifying and choosing your investment portfolio. It involves buying stocks, bonds, investing in real estate, starting an income generating activity among others. 5. Review your savings and investments It is good to occasionally review the steps as it will help you know whether you are moving in the right direction or you have detoured. Do regular reviews of the performance of your different strategies and find out how they are performing. Savings and investment like any journey are bound to encounter potholes like inflation, price fluctuations, and volatility; but don’t lose focus of the ultimate goal. Get a financial advisor to explain to you the impact it may have on your investments and the right moves to make.
Outrage over Tim Hortons’ cuts goes national, 50 actions planned outside locations from Halifax to Vancouver by Leadnow and the Fight for $15 and Fairness
Tom Golisano Launches New Campaign - Tax My Property Fairly - to Help Homeowners in Upstate New York Fight for Fair Property Taxes
EY Geostrategic Business Group launches to actively work with businesses to find new growth opportunities and navigate geopolitical landscape