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Revenues of $GRUB soared 39% in 1Q17 to $156.1MM, as the food delivery service posted a 78% jump in net income of $17.7MM from $9.9MM a year ago. Earnings rose to $0.20 per diluted share from $0.12 a share, as Grubhub saw a 26% rise in active diners of 8.75MM for the quarter.
$XRX said it expects fiscal 2018 GAAP earnings from continuing operations to be in the range of $2.30 per share to $2.50 per share. Adjusted earnings are estimated to be between $3.50 per share and $3.70 per share. Fully year non-GAAP operating margin is forecasted to be in the range of 13% to 14%.
$XRX, the photocopier company, reported improved financial results in 4Q17. Net loss narrowed to $0.76 per share from $3.3 per share last year. Non-GAAP earnings moved up 4% to $1.04 per share. Revenues came in at $2.75Bil, broadly unchanged from the prior-year level. Financial performance has been impacted by high costs and muted sales growth.
$WEX invited certain prospective lenders to a meeting scheduled for Jan. 8, 2018 for the purpose of considering potential amendments to its credit facility, including a repricing of the company’s existing $1.185Bil Term Loan B and a potential $100MM increase to its Term Loan B.
$WU's subsidiary Western Union Financial Services, Inc. agreed to a consent order with the New York Department of Financial Services. This agreement resolves an investigation by NYDFS into deficiencies in compliance programs during 2004-2012. Under the terms, WUFSI will pay a total of $60MM to NYDFS to resolve violations of New York law.
During 2Q18, $RECN’s revenue in the US increased by 1.5% YoY, reflecting increased activity and bill rates in several of the company's largest markets. International revenue improved by 24.7% YoY, reflecting strength in the UK, Ireland and Sweden practices. Revenue in Europe grew 20.9% YoY, excluding revenue attributable to taskforce.
$RECN reported net income of $8.1MM or $0.27 per share in 2Q18 compared to $5.7MM or $0.16 per share in 2Q17. Revenue increased by 6.2% to $156.7MM compared to 2Q17. Excluding taskforce's revenue of $3.7MM in the quarter, revenue was up 3.7%.
$XRX announced that Jonathan Christodoro, former MD of Icahn Capital LP, resigned from the Xerox BoD. The standstill arrangement between Xerox and the Icahn Group entered into on June 27, 2016 was terminated, and Xerox received notice from Icahn Group of its nomination of four director candidates to stand for election at the 2018 Annual Meeting.
$WU announced that Française des Jeux (FDJ), the fourth largest national lottery in the world, will offer Western Union money transfers across the globe through a digital service using the Western Union mobile app and over 31,000 FDJ terminals across France.
$RECN completed the acquisition of Accretive Solutions, Inc. $RECN plans to transition Accretive's business into the $RECN brand over the next 6-9 months, with the exception of Countsy, which will operate as a standalone business. $RECN expects the transaction to increase revenue by approx. $65-70MM and EBITDA by $6.5-7.5MM after 9-12 months.
$IDCC's patent licensing subsidiaries have signed a multi-year, worldwide, non-exclusive patent license with LG Electronics. The deal also commits the parties to explore cooperation for projects related to the research and development of video and sensor technology for connected and autonomous vehicles.
$IDCC expects 4Q17 revenue of $180-210MM, including recurring revenue of $90-97MM. Total revenue guidance for the period includes non-recurring revenue attributable to the expected recognition of the remaining portion of the non-refundable prepaid balance on a patent license agreement scheduled to expire at the end of 2017.
Events company $VVI has appointed Virginia Henkels as an independent director of its Board of Directors, effective immediately. Earlier, Henkels served Swift Transportation Company as EVP, CFO and Treasurer. Prior to that, she held various leadership positions at Honeywell International.
$WEX said it is eligible to support U.S. government card and payment services through its partnership with Citibank N.A., which was awarded one of two contracts for GSA SmartPay 3. The new program runs through 2031 and Citi and $WEX will remain among an exclusive group of providers of card and payment services.