Wednesday, May 24 2017 - 9:30pm
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Wednesday, May 24 2017 - 12:00pm
$ADM said, excluding specified items, adjusted segment operating profit was $573MM in 1Q16, down $319MM. Effective tax rate for 1Q16 was 25% compared to 29% in 1Q15, largely due to differing geographic mix of earnings. The company expects its effective tax rate to be at the lower end or below the 28-30% range in 2016.
In 1Q18, $GES’ revenue in Asia was up 17% in US dollars and 16% in constant currency. In the Americas, retail revenues and comparable sales, including ecommerce, decreased 15% in US dollars and in constant currency. This decline was driven by declines in traffic and by lower average unit retail prices as well as softness in ecommerce.
During 1Q18, $GES opened 18 directly-operated stores in Europe on a net basis. The company added new stores to its fleet in Italy, France, Spain, Portugal, UK, Germany, Belgium, Sweden, Turkey and Poland. $GES has decided to accelerate its store openings in Europe from 60 stores to 70 stores in FY18.
Online vehicle auction and remarketing services provider $CPRT reported higher 3Q17 earnings, helped by higher revenue. Net income rose 22.35% to $90.54MM or $0.38 per share from $74MM or $0.32 per share a year ago. Total service revenues and vehicle sales grew 7.67% to $373.86MM from $347.2MM in 3Q16. Excluding items, $CPRT earned $0.37 per share.
$NTAP sees the opportunity to access new markets and new geographies using both software and hardware. The company has succeeded in some of the SmartCity projects going on in Asia-Pacific using a new type of integrator that combines $NTAP’s storage with other components of a broadbased SmartCity solution.
$NTAP had a good quarter in public sector representing both market share gains and execution by field organizations. The outlook for public sector depends on the budget that the new administration passes. The company has a broad book of business in the public sector market and demonstrates leadership in this area.