IT Services, Cloud and Managed Services M&A Update Q1 2015

Size: px
Start display at page:

Download "IT Services, Cloud and Managed Services M&A Update Q1 2015"

Transcription

1 Technology and Digital Media Investment Banking M&A Advisory IT Services, Cloud and Managed Services M&A Update Q April 3, 2015 Generation Equity Advisors, LLC 8560 W. Sunset Blvd, Suite 500 West Hollywood, CA (310) TechMediaMergers.com

2 Generation Equity Advisors is an independent investment banking and M&A advisory firm focused exclusively on the global Software, IT Services and Digital Media industry sectors. We cover the IT Services sector comprehensively including companies that provide cloud services, systems integrators, IT consultants, hosting/data centers, VAR s and managed services firms. We advise buyers and sellers of companies and efficiently execute M&A transactions that help increase shareholder value. Our professionals have advised on $20+ billion in M&A transactions to date and have current clients and relationships globally with software, IT services and digital media companies as well as leading private equity firms. Aaron Solganick, CEO Generation Equity Advisors 8560 West Sunset Blvd, Suite 500 West Hollywood, CA (310) x101 Table of Contents: M&A Update: M&A Mania Page 3 IT Services M&A Update: Q1 Transactions Page 4 Average M&A Valuation Multiples Page 7 IT Services Public Company Valuation Table Page 8 IPO Spotlight: GoDaddy Page 9 M&A Spotlight: All Covered/Preferred Networks Page 10 M&A Spotlight: Stefanini / IHM Page 11 M&A Spotlight: Ingram Micro/Tech Data Page 12 Sources for our research and data include: Dealogic, Thompson Reuters, Company Websites, SEC Filings DISCLAIMER The information contained herein is of a general nature and is not intended to address the circumstances of any particular company, individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. We perform our own research and also use third party research. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. This is not an offer or recommendation to buy or sell securities nor is it a recommendation to merge, acquire, sell or exit a specific company or entity. We do not hold any equity or debt position in any of the securities listed herein as of the date of this report. Generation Equity Advisors, LLC Page 2

3 M&A Mania: Deal Activity Hits 8-year High Global merger activity is off to the best annual start since 2007 as deal making momentum has carried into this year. According to data from Dealogic, the first three months of 2015 got off to a strong start with $902.2 billion in announced M&A, the highest Q1 total since 2007 ($1.08 trillion). 14 deals with a value of $10 billion+ were announced ($267.4 billion), the most in a first quarter since 2006 (15 deals). Global M&A volume was up 23% in Q from the first quarter last year ($732.8 billion). According to the global M&A activity data for Q released by Thomson Reuters, the total number of announced deals also jumped from 8,237 in 2014 to 9,165 in Both these factors made Q the best first quarter for the M&A industry since 2007 in terms of announced deals. U.S. M&A activity had its largest first quarter since 2000 with $414.7 billion, and it was the best first quarter ever for Asia (non-japan) M&A with $199.7 billion. Cross-border M&A also performed well, reaching $315.2 billion - the highest first quarter volume since 2007 when activity reached $357.9 billion, according to Dealogic. Technology was the leading sector for cross-border activity (416 deals). NXP Semiconductors (Netherlands) $16.7 billion bid for Freescale Semiconductor, an exit for Blackstone, Carlyle, Permira, and TPG Capital, will be the largest cross border Technology deal involving a European buyer or target, on record. Volume from $1 billion+ deals reached $624.1 billion in Q1 2015, and accounted for 69% of M&A volume in all sectors. Average deal size for global M&A increased 22% year-on-year to $211 million in Q1 2015, up from $173 million in Q and the highest Q1 average since 2007 ($223 million). Average deal size for $1bn+ deals was $4.0bn, up 10% on 1Q 2014 ($3.6bn) and the highest 1Q average since 2009 ($6.1bn) Deals valued at $1bn or less totaled $278.1bn and were 31% share of total volume in 1Q 2015 and the highest 1Q volume since 2011 ($312.2bn) Cash only payments increased to $392.8 billion in Q1 2015, up 32% from $298.2 billion in Q Payment using only Common Shares totaled $115.9 billion in Q1 2015, down slightly from Q ($117.6 billion). One area that did see swift declines, however, was private equity. Dealogic noted $35.25 billion of PE-backed buyout activity in the first three months of 2015, compared to $63.78 billion in Q That s a dollar decline of 44.7%, while the number of deals fell by 7.3%.

4 IT Services M&A Update Q is off to a strong start in terms of deals announced within the IT Services industry sector. The following were announced M&A transactions for the first quarter: January All Covered, a division of Konica Minolta Business Solutions U.S.A., Inc. (Konica Minolta) and one of the nation s leading IT Services companies, has acquired the assets of Preferred Networks Corporation of Atlanta. The company s clients will now be serviced by the All Covered IT Services division of KMBS, giving All Covered a stronger foothold in the greater Atlanta area. The acquisition became official January 1, Terms of the deal were undisclosed. January SMS Systems Maintenance Services, a portfolio company of Thomas H. Lee Partners and Summit Partners, acquired Prob-Solve Group, which provides managed IT support and solutions, to deepen its presence in the European market. January KPMG acquired Trusteq Oy to strengthen its IT security services capabilities in Finland; this is KPMG's third recent IT security acquisition following Quibera and P3 Consulting. January Datapipe acquired GoGrid as part of a strategic initiative to enable enterprise clients to better architect, deploy and manage multi-cloud hybrid IT solutions. GoGrid Provides cloud computing and Infrastructure-as-a-Service for businesses around the globe. January Tech Mahindra augments its core banking expertise, acquires banking IT services firm SOFGEN Holdings Ltd. for an undisclosed amount. Tech Mahindra Ltd. a specialist in digital transformation, consulting and business re-engineering announced that it has signed a definitive agreement to acquire SOFGEN Holdings Limited (SOFGEN), a niche consulting and services company with worldwide presence specializing in Private Wealth, Commercial and Retail Banking solutions. The transaction is expected to close by March 2015, subject to regulatory approvals. SOFGEN has 450+ employees with 20+ Tier 1 client relationships. Delivering solutions in and around core banking the company has the 2nd largest pool of Avaloq consultants in the world and is Temenos most prolific partner. With this acquisition, Tech Mahindra will have the capability to offer a unique combination of Change the Bank and Run the Bank services to Retail banking, Private Banking and Wealth Management customers globally. January Matchtech Group announced its intent to acquire Networkers International Plc for $99 million to expand its geographic footprint and strengthen its IT specialty. Networkers International PLC sources, recruits, and supplies IT personnel across various industries in the United Kingdom and internationally. It represents a multiple of 0.4x EV/LTM Revenues and 9.1x EV/LTM EBITDA. January The Aldridge Company acquired TWIST Solutions to quickly scale its operations and better serve the SME market. Twist Solutions provides managed IT and cloud services to small to mid-sized businesses/organizations. Generation Equity Advisors, LLC Page 4

5 January DLT Solutions, a leading value-added reseller in government information technology (IT) software and services, today announced that it has been acquired by private equity firm Millstein & Co. January Cal Net acquired Velocity Network Solutions to strengthen its market position on the West Coast and bolster its service offering through Velocity's managed services portfolio. Velocity Network Solutions offers managed IT services that range from help desk support to strategic guidance to offsite backup and disaster recovery. January Potomac Equity Partners invested in Orion Systems to augment its portfolio of technology companies and provide capital to enable the Company to capitalize on the adoption of cloud-based solutions. Orion Systems Integrators provides IT services and systems integration services, such as program management, solution architecture, implementation and Oracle, MSFT and SAP solutions. February Hitachi Systems agreed to acquire Cosmic Blue to expand its presence in Europe, marking the Company's seventh acquisition in twelve months. Offers IT services which includes system design and construction, cloud services and data center services. Hitachi Data Systems also announced the acquisition of oxya SAS to bolster its managed services portfolio and add SAP expertise to its capabilities. oxya provides IT deployment, administration, and management services for SAP solutions. February Brazil based Stefanini IT Solutions merged with IHM Engenharia. Stefanini currently operates in 34 countries and generates approximately 40% of its combined revenues. In 2014, the group announced revenues of 2.35bn reais (US$870mn), up 11% year-on-year. Similar growth is expected for this year. February Cognizant Technology Solutions signed a partnership agreement to take over CNO IT Services to bolster its presence in India. Cognizant will receive over 600 IT professionals from CNO. CNO IT Services is an India-based subsidiary of CNO Financial Group, a publicly-traded life and health insurance company based in the US. February Telicity Group, a UK-based data center provider, has agreed to acquire Interxion for $2.6 billion to capitalize on increased demand for data services and storage fueled by cloud computing and mobile. Interxion Holding NV provides carrier-neutral colocation data center services and managed services comprising systems monitoring, systems management, engineering support and storage services. February Zayo Group, a provider of infrastructure solutions, agreed to acquire Latisys for $675 million from Great Hill Partners to strengthen its infrastructure services and expand its datacenter portfolio to 45 facilities. February Intellinet, a provider of management consulting and Microsoft-centric services, entered an agreement to acquire Innovative Computer Systems to enhance its managed services portfolio. Innovative Computer Systems provides IT consulting services and managed services such as server, SQL, backup and virtual server maintenance and monitoring services. Generation Equity Advisors, LLC Page 5

6 February Marco, a provider of business IT consulting services and AV and document management services, acquired Solbrekk to augment its managed IT services division and expand its hosted and cloud service offerings. February Ernst & Young entered an agreement to acquire C3 Business Solutions to expand its service offering to include the delivery of hosted cloud solutions and infrastructure managed services. C3 Business Solutions provides information management, analytics, and business intelligence consulting services. February Aon Hewitt acquired Kloud Ltd. to meet increased foreign demand for Workday consulting services. Through the acquisition of Kloud, Aon Hewitt is the largest provider of Workday services in Europe. February MegaPath sells its managed services business to GTT Communications MegaPath Corporation, one of the leading providers of voice, data, security and cloud services in North America, today announces that the company is selling its managed services business division to GTT Communications, Inc. (NYSE: GTT), a leading global cloud networking provider to multinational clients. The parties expect to close on April 1, 2015, after obtaining regulatory approvals. GTT will pay $144.8 million in cash and $7.5 million in GTT common stock to acquire MegaPath s Managed Services division, which provides private networking, access services, and managed security services to over 500 large enterprise clients. March Denovo, a leading provider of Oracle JD Edwards ERP cloud hosting, consulting and managed services, announced that M/C Partners, a private equity firm based in Boston, has invested in and acquired a majority interest in Denovo. The financing will enable Denovo to make acquisitions and invest in the development of its cloud and managed services offerings while providing liquidity for its founders. The terms of the transaction were not disclosed. March 2015 PCM, Inc. (PCMI) announced that it has completed its acquisition of certain assets of En Pointe Technologies Sales, Inc. ( En Pointe ), one of the nation's largest independent IT solutions providers, headquartered in Southern California. PCM announced on March 16, 2015 that it had entered into an agreement to acquire the assets of En Pointe s IT solutions provider business, excluding current tangible assets, such as accounts receivable and inventory. Under the terms of the agreement, PCM paid an initial purchase price of $15 million in cash and will pay certain contingent earn-out consideration over a three year period. The assets were acquired by an indirect whollyowned subsidiary of PCM, which subsidiary now operates under the En Pointe brand. March Arrow Electronics (NYSE:ARW), a global solution provider with $22.8B annual revenue, announced today that it was acquiring value-added distributor immixgroup for an undisclosed amount. immixgroup, #37 on the CRN SP500 list, was reported by the Washington Business Journal to have posted $920 million in revenue for Once the transaction is closed in Q2, immixgroup will retain its focus on the government market and operate as subsidiary of Arrow. According to USAspending.gov, immixgroup had $418.3 million in federal sales in FY2014. Arrow expects the acquisition to be $0.10 to $0.14 accretive to EPS, excluding the impact of amortization. Generation Equity Advisors, LLC Page 6

7 March Ingram Micro Inc. (NYSE: IM) announced the acquisition of Tech Data's Peruvian and Chilean Businesses to expand its reach in fast-growing, high-value Latin America market. The acquisition, which closed March 16th, is expected to add more than $270 million annually to Ingram Micro's revenue and be slightly accretive to 2015 consolidated non-gaap earnings per diluted share. The acquisition complements Ingram Micro's existing operations in Peru and Chile and immediately delivers increased reach and scale in the region, which has consistently been a top performer for the company. In addition to delivering cost synergies through merger and integration of the two businesses in each country, the acquisition is expected to drive further strong growth in Technology Solutions, while increasing penetration into additional service opportunities in Mobility, Supply Chain Solutions and Cloud. Average M&A Valuation Multiples as of Q IT Services Cloud, Managed and Hosting Services VAR Enterprise Value/Revenue (ttm) Enterprise Value/EBITDA (ttm) 0.4x to 1.4x 1.1x 2.5x 0.2x - 0.4x 6.4x to 13.4x 8.4x x 6.8x 8.3x Generation Equity Advisors, LLC Page 7

8 Publicly Traded IT Services Firms Valuation Table CONSULTING Ticker Stock Price Market Cap EV/Revenue EV/EBITDA Advisory Board Co. ABCO B Charles River Associates Intl CRAI M FTI Consulting FCN B Hackett Group HCKT M Huron Consulting Group HURN B Information Services Group III M Navigant Consulting NCI M Resources Connection RECN M Average SYSTEMS INTEGRATORS Ticker Stock Price Market Cap EV/Revenue EV/EBITDA Cap Gemini CAP.PA B CIBER CBR M CGI Group GIB B Edgewater Technology EDGW M Hackett Group HCKT M Perficient PRFT M Average OUTSOURCING Ticker Stock Price Market Cap EV/Revenue EV/EBITDA Accenture ACN ATOS ATO.PA B Computer Services Corp. CSC B HP HP B IBM IBM B igate Corp. IGTE B Unisys UIS B Average OFFSHORE Ticker Stock Price Market Cap EV/Revenue EV/EBITDA Cognizant Technology Solutions CTSH B igate Corp. IGTE B Infosys INFY B Syntel SYNT B Virtusa VRTU B Wipro WIT B Average VAR Ticker Stock Price Market Cap EV/Revenue EV/EBITDA CDW CDW B eplus PLUS M Insight Enterprises NSIT B Systemax SYX M Note: Stock Prices and Market Data as of March 31, 2015 Average Generation Equity Advisors, LLC Page 8

9 IPO Spotlight GoDaddy IPO values company at $4.5 billion Web hosting company GoDaddy Inc. has priced its initial public offering at $20 per share, above its previously indicated $17 to $19 per share range, valuing it at around $4.5 billion, including debt, according to underwriting sources. At this price, the IPO would raise $440 million. A GoDaddy spokesman did not immediately respond to a request for comment. Shares in GoDaddy started trading on Wednesday and listed on the New York Stock Exchange under the symbol "GDDY." GoDaddy, whose Super Bowl commercials once featured race car driver Danica Patrick and super model Bar Rafaeli but have since been toned down its advertising, added more than 1.1 million customers last year. The company was founded in 1997 and in 2011 was acquired by a private equity consortium led by KKR & Co LP and Silver Lake Partners LP for $2.25 billion, including debt. It has since expanded from its roots in internet domains to provide services to small and mediumsized businesses such as website building and web hosting. GoDaddy's revenue has risen about 52 percent in last three years to about $1.4 billion and net loss has narrowed to $143.3 million in 2014, from $279 million in The company had about $1.3 billion in long term debt on an adjusted basis, as of Dec. 31. It competes with Endurance, United Internet, Web.com and companies like Amazon.com Inc, Google Inc and Microsoft Corp, which have recently entered the domain name registration business. GoDaddy filed for an IPO in 2006 and later withdrew it, citing unfavorable market conditions, the same year Google Inc launched its free web hosting service, Google Page Creator. Morgan Stanley, JP Morgan Securities and Citigroup were lead underwriters to the IPO. Source: Reuters - Generation Equity Advisors, LLC Page 9

10 M&A Spotlight All Covered Acquires IT Services Firm Preferred Networks Corporation Foster City, Calif. and Ramsey, New Jersey - January 30, All Covered, a division of Konica Minolta Business Solutions U.S.A., Inc. (Konica Minolta) and one of the nation s leading IT Services companies, has acquired the assets of Preferred Networks Corporation of Atlanta. The company s clients will now be serviced by the All Covered IT Services division of KMBS, giving All Covered a stronger foothold in the greater Atlanta area. The acquisition became official January 1, Terms of the deal were undisclosed. "We are excited to begin 2015 with news of this acquisition," says Todd Croteau, president of All Covered. "Preferred Networks Corporation has developed an outstanding model of delivering cloud technologies, data backup solutions and managed IT services to its customers in the Atlanta area. The company s mission and services align perfectly with All Covered s commitment to providing unmatched IT services to organizations across all industries. In addition to gaining Preferred Networks Corporation s clients, All Covered also expands their capabilities with a talented group of IT services professionals that understand the wide range of technology demands facing businesses today. All of Preferred Networks Corporation s employees were retained in the acquisition, including David Webster, the company s founder and president. Since its inception in 2007, Preferred Networks Corporation has built a reputation locally for delivering top-of-the-line IT services to customers in the greater Atlanta area. Beginning with contract-based managed IT services as its core offering, Preferred Networks Corporation added cloud and desktop services in The company s Infrastructure-as-a-Service (IaaS) cloud offering focuses on hosted applications, backup and disaster recovery services, and Citrix XenApp virtual apps that allow companies to reduce or eliminate large investments on IT infrastructure and allow them to access data from anywhere in the world. For more information, please go to: Generation Equity Advisors, LLC Page 10

11 M&A Spotlight Stefanini IT Solutions announces merger with IHM Engenharia February 3, Brazilian IT services multinational Stefanini has started off 2015 with its engines on full-throttle. The company announced it is merging its operations with IHM Engenharia, a Brazil-based multi-sector engineering services firm, according to a Stefanini statement. The merger is aimed at increasing Stefanini's footprint in the industrial segment and follows the company's credo of joining forces with or acquiring companies whose portfolio complements that of Stefanini. Transaction consideration was not disclosed. The transaction is still subject to regulatory approvals. At a year-end press conference in December, CEO Marco Stefanini underlined that during 2015 the company would be resuming the previous year's rate of mergers and acquisitions, both in Brazil and abroad. Founded in 1994, IHM Engineering operates in the segments of mining, metals, chemicals, paper, agribusiness, food, automotive, power, and oil & gas, among others. Initially, the focus will be on areas where the two companies have direct operations and offices in Brazil. The partnership will then be successively extended to Latin America and other regions. For IHM, the deal allows it to take advantage of Stefanini's comprehensive international clout in order to expand outside Brazil. For more than two years, Stefanini has been ranked by Brazilian think-tank Fundação Dom Cabral as the most "globalized" Brazilian IT company and is the fourth most "international" IT company in the country, according to the latest ranking. Stefanini currently operates in 34 countries which generate some 40% of its revenues. In 2014, the group collected revenues of 2.35bn reais (US$870mn), up 11% year-on-year. Similar growth is expected for this year. For more information, go to: and Generation Equity Advisors, LLC has advised Stefanini for buy-side M&A services in a previous transaction.

12 M&A Spotlight March 18, Ingram Micro Inc. (NYSE: IM) announced that it is further expanding its reach in the fast-growing and high-value Latin American market with the acquisition of Tech Data's Peruvian and Chilean businesses. The acquisition, which closed March 16th, is expected to add more than $270 million annually to Ingram Micro's revenue and be slightly accretive to 2015 consolidated non-gaap earnings per diluted share. The acquisition complements Ingram Micro's existing operations in Peru and Chile and immediately delivers increased reach and scale in the region, which has consistently been a top performer for the company. In addition to delivering cost synergies through merger and integration of the two businesses in each country, the acquisition is expected to drive further strong growth in Technology Solutions, while increasing penetration into additional service opportunities in Mobility, Supply Chain Solutions and Cloud. "This acquisition is an excellent complement to our existing operations in Latin America," said Alain Monié, Ingram Micro CEO. "Latin America is consistently one of our top performing regions and the addition of these businesses to our current operations in Peru and Chile further reinforces to our customers and vendors Ingram Micro's established position and commitment to providing world class, supply-chain and technology services in emerging markets." For more information, go to: Generation Equity Advisors, LLC Page 12

13 Generation Equity Advisors, LLC is an independent investment bank and M&A advisory firm focused exclusively on the global Software, IT Services, Internet and Digital Media industry sectors. We advise buyers and sellers of companies and efficiently execute transactions to increase shareholder value. Our professionals have advised on $20+ billion in M&A transactions to date and have current relationships globally with companies as well as leading private equity firms. Please contact for information regarding this report or to inquire about an M&A transaction: Aaron Solganick, CEO Generation Equity Advisors, LLC 8560 W. Sunset Blvd, Suite 500 West Hollywood, CA (310) TechMediaMergers.com Follow Us on Twitter: TechMediaMerger Generation Equity Advisors, LLC Page 13

IT Services, Cloud and Managed Services M&A Update February 2015

IT Services, Cloud and Managed Services M&A Update February 2015 Technology and Digital Media Investment Banking M&A Advisory IT Services, Cloud and Managed Services M&A Update February 2015 February 16, 2015 Generation Equity Advisors, LLC 8560 W. Sunset Blvd, Suite

More information

IT Services, Cloud and Managed Services M&A Update Q2 2015

IT Services, Cloud and Managed Services M&A Update Q2 2015 Technology and Digital Media Investment Banking + M&A Advisory IT Services, Cloud and Managed Services M&A Update Q2 2015 July 9, 2015 Generation Equity Advisors, LLC 8560 W. Sunset Blvd, Suite 500 West

More information

IT Services, Cloud and Managed Services M&A Update July / August 2014

IT Services, Cloud and Managed Services M&A Update July / August 2014 Technology and Digital Media Investment Banking M&A Advisory IT Services, Cloud and Managed Services M&A Update July / August 2014 August 29, 2014 Generation Equity Advisors, LLC 8560 W. Sunset Blvd, Suite

More information

Digital Media M&A Update January 2015

Digital Media M&A Update January 2015 Technology and Digital Media Investment Banking M&A Advisory Digital Media M&A Update January 2015 January 29, 2015 Generation Equity Advisors, LLC 8560 W. Sunset Blvd, Suite 500 West Hollywood, CA 90069

More information

Everest Group PEAK Matrix for Enterprise Cloud Application Services

Everest Group PEAK Matrix for Enterprise Cloud Application Services Everest Group PEAK Matrix for Enterprise Cloud Application Services Focus on Accenture November 2014 Copyright 2014 Everest Global, Inc. This document has been licensed for exclusive use and distribution

More information

Willis makes firm offer to buy Gras Savoye at year-end 2015, to expand its fully integrated multinational offering to clients

Willis makes firm offer to buy Gras Savoye at year-end 2015, to expand its fully integrated multinational offering to clients News Release Contact: Media: Investors: Paul Platt (Willis) +44 20 3124 7659 Paul.Platt@willis.com Céline Meslier (Gras Savoye) +33 (0)1 41 3 55 02 celine.meslier@grassavoye.com Peter Poillon +1 212 915

More information

ACE TO ACQUIRE CHUBB FOR $28.3 BILLION IN CASH AND STOCK

ACE TO ACQUIRE CHUBB FOR $28.3 BILLION IN CASH AND STOCK ACE TO ACQUIRE CHUBB FOR $28.3 BILLION IN CASH AND STOCK Complementary Businesses and Skills Will Create Global P&C Industry Leader with Superior Product, Customer and Distribution Channel Capabilities

More information

Oracle to Acquire MICROS

Oracle to Acquire MICROS Oracle to Acquire MICROS Adds Innovative Hospitality and Retail Technology Vendor to Expand Oracle into More Industries June 23, 2014 Additional Information and Where to Find It > This document does not

More information

2015 Fourth Quarter and Full Year Results Acquisition of TransFirst

2015 Fourth Quarter and Full Year Results Acquisition of TransFirst Acquisition of TransFirst January 26, 2016 2016 Total System Services, Inc. All rights reserved worldwide. > CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This presentation contains statements that

More information

Quarterly Technology M&A Review

Quarterly Technology M&A Review Quarterly Technology M&A Review Q3 2011 Overall Q3 Technology M&A kept pace with a strong Q2 and proved to be an impressive quarter in terms of both aggregate count and value, totaling 937 announced transactions

More information

Morgan Stanley Reports Second Quarter 2015:

Morgan Stanley Reports Second Quarter 2015: Media Relations: Michele Davis 212-761-9621 Investor Relations: Kathleen McCabe 212-761-4469 Morgan Stanley Reports Second Quarter 2015: Net Revenues of $9.7 Billion and Earnings per Diluted Share of $0.85

More information

Morgan Stanley Reports Third Quarter 2015:

Morgan Stanley Reports Third Quarter 2015: Media Relations: Michele Davis 212-761-9621 Investor Relations: Kathleen McCabe 212-761-4469 Morgan Stanley Reports Third Quarter 2015: Net Revenues of $7.8 Billion and Earnings per Diluted Share of $0.48

More information

Equifax Reports Fourth Quarter and Full Year 2008 Results; Provides First Quarter 2009 Guidance

Equifax Reports Fourth Quarter and Full Year 2008 Results; Provides First Quarter 2009 Guidance 1550 Peachtree Street, N.W. Atlanta, Georgia 30309 NEWS RELEASE Contact: Jeff Dodge Tim Klein Investor Relations Media Relations (404) 885-8804 (404) 885-8555 jeff.dodge@equifax.com tim.klein@equifax.com

More information

FOR IMMEDIATE RELEASE

FOR IMMEDIATE RELEASE FOR IMMEDIATE RELEASE O-I REPORTS FULL YEAR AND FOURTH QUARTER 2014 RESULTS O-I generates second highest free cash flow in the Company s history PERRYSBURG, Ohio (February 2, 2015) Owens-Illinois, Inc.

More information

Morgan Stanley Reports Full-Year and Fourth Quarter 2010:

Morgan Stanley Reports Full-Year and Fourth Quarter 2010: Media Relations: Jeanmarie McFadden 212-761-2433 Investor Relations: Celeste Mellet Brown 212-761-3896 Morgan Stanley Reports Full-Year and Fourth Quarter 2010: Full-Year Net Revenues of $31.6 Billion

More information

Quarterly Technology M&A Review

Quarterly Technology M&A Review Quarterly Technology M&A Review Q4 01 Technology M&A deal value increased considerably in Q4 01, while deal count dipped to the lowest level since Q4 010. Normalized to remove the impact of Softbank s

More information

Financial Information

Financial Information Financial Information Solid results with in all key financial metrics of 23.6 bn, up 0.4% like-for like Adjusted EBITA margin up 0.3 pt on organic basis Net profit up +4% to 1.9 bn Record Free Cash Flow

More information

Navigant Consulting (NCI)

Navigant Consulting (NCI) UNIVERSITY OF OREGON INVESTMENT GROUP 2-4-11 Financials Navigant Consulting (NCI) Stock Data Price (52 weeks) 8.30-14.50 Symbol/Exchange NCI/NYSE Beta.81 Shares Outstanding 50.52 M Average daily volume

More information

Attunity Acquires Appfluent, a Leading Provider of Strategic Solutions that Optimize the Economics and Performance of Big Data Analytics and Hadoop

Attunity Acquires Appfluent, a Leading Provider of Strategic Solutions that Optimize the Economics and Performance of Big Data Analytics and Hadoop Attunity Acquires Appfluent, a Leading Provider of Strategic Solutions that Optimize the Economics and Performance of Big Data Analytics and Hadoop Appfluent s software provides unprecedented visibility

More information

FOSSIL GROUP, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS; Fourth Quarter Net Sales of $1.065 Billion; Diluted EPS Increases 12% to $3.

FOSSIL GROUP, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS; Fourth Quarter Net Sales of $1.065 Billion; Diluted EPS Increases 12% to $3. FOSSIL GROUP, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2014 RESULTS; Fourth Quarter Net Sales of $1.065 Billion; Diluted EPS Increases 12% to $3.00 Fiscal Year 2014 Net Sales Increase 8% to $3.510 Billion;

More information

Apptix Sells Public Cloud Business Funds MSP Growth Strategy

Apptix Sells Public Cloud Business Funds MSP Growth Strategy Apptix Sells Public Cloud Business Funds MSP Growth Strategy Herndon, VA and Oslo, Norway September 9, 2015 Apptix (OSE: APP), the premier provider of managed and hosted solutions, today announced it sold

More information

Morgan Stanley Reports Fourth Quarter and Full Year 2015:

Morgan Stanley Reports Fourth Quarter and Full Year 2015: Media Relations: Michele Davis 212-761-9621 Investor Relations: Kathleen McCabe 212-761-4469 Morgan Stanley Reports Fourth Quarter and Full Year 2015: Fourth Quarter Net Revenues of $7.7 Billion and Earnings

More information

Morgan Stanley Reports First Quarter 2015:

Morgan Stanley Reports First Quarter 2015: Media Relations: Michele Davis 212-761-9621 Investor Relations: Kathleen McCabe 212-761-4469 Morgan Stanley Reports First Quarter 2015: Net Revenues of $9.9 Billion and Earnings per Diluted Share from

More information

2015 M&A Outlook Survey Report

2015 M&A Outlook Survey Report 2015 M&A Outlook Survey Report The Boom is Back: M&A Reemerges as Leading Growth Strategy kpmg.com Foreword M&A in the U.S. has finally reached prerecession levels. Deal value in the first three quarters

More information

RCS Capital to acquire J.P. Turner & Company L.L.C. and J.P. Turner & Company Capital Management, LLC. January 17, 2014

RCS Capital to acquire J.P. Turner & Company L.L.C. and J.P. Turner & Company Capital Management, LLC. January 17, 2014 RCS Capital to acquire J.P. Turner & Company L.L.C. and J.P. Turner & Company Capital Management, LLC January 17, 2014 1 Cautionary Note Regarding Forward-Looking Statements Information set forth herein

More information

Intertrust N.V. announces the indicative price range, offer size, start of offer period and publication of prospectus of its planned IPO

Intertrust N.V. announces the indicative price range, offer size, start of offer period and publication of prospectus of its planned IPO This press release and the information contained herein are not for distribution in or into the United States of America (including its territories and possessions, any state of the United States of America

More information

2012 Letter from Our Chief Executive Officer

2012 Letter from Our Chief Executive Officer 2012 Letter from Our Chief Executive Officer Our strong performance in fiscal 2012 demonstrates that our growth strategy enabled us to further differentiate Accenture in the marketplace and deliver significant

More information

IBM Business Partners: Top Five Best Practices for Maximizing Your Success Selling IBM Software

IBM Business Partners: Top Five Best Practices for Maximizing Your Success Selling IBM Software IBM Business Partners: Top Five Best Practices for Maximizing Your Success Selling IBM Software Judith Hurwitz President and CEO Marcia Kaufman COO and Principal Analyst Sponsored by IBM Introduction IBM

More information

Envestnet to Acquire Yodlee

Envestnet to Acquire Yodlee For Immediate Release Envestnet to Acquire Yodlee Combination accelerates the transformation of financial technology by delivering better relationships and greater lifetime value by connecting financial

More information

Mergers and Acquisitions Trends in the Global Property and Casualty Insurance Industry

Mergers and Acquisitions Trends in the Global Property and Casualty Insurance Industry Mergers and Acquisitions Trends in the Global Property and Casualty Insurance Industry Improving Industry Health to Bolster Global Merger Activity in 2014 NC3B-F1 January 2013 Contents Section Slide Number

More information

Agreement to Acquire 100% Ownership of Protective Life Corporation

Agreement to Acquire 100% Ownership of Protective Life Corporation [Unofficial Translation] June 4, 2014 Koichiro Watanabe President and Representative Director The Dai-ichi Life Insurance Company, Limited Code: 8750 (TSE First section) Agreement to Acquire 100% Ownership

More information

Formal script: Call to order, introductions, matters for vote.

Formal script: Call to order, introductions, matters for vote. 1 Formal script: Call to order, introductions, matters for vote. 2 Before I get started, you should know that the presentation you are about to hear contains forward looking statements. As you should read

More information

How to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell

How to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell Case Study - 2012 How to improve the Banco Santander Brasil business model by analyzing opportunities of Cross Sell Is it possible to increase client relationship efficiency and revenue by collect, analyze

More information

EMC 2 (EMC) Analyst: Saheb Saini Fall 2013. Recommendation: SELL Target Price until (06/30/2015): $24.51

EMC 2 (EMC) Analyst: Saheb Saini Fall 2013. Recommendation: SELL Target Price until (06/30/2015): $24.51 Recommendation: SELL Target Price until (06/30/2015): $24.51 1. Reason for Recommendation: Over the past three years, EMC has recorded higher revenue growth each year, and this will likely continue in

More information

Software Testing Market India

Software Testing Market India Software Testing Market India July 2014 Executive Summary Market Software Testing market in India was valued at ~ INR xx bn in 20-- and is projected to grow at a CAGR of ~ x1% between 20--- and 20-- Over

More information

FOURTH QUARTER NET INCOME INCREASES 12% TO A RECORD $5.32 BILLION FOURTH QUARTER EPS OF $1.02, UP 12% REVENUES INCREASE 9% TO $21.

FOURTH QUARTER NET INCOME INCREASES 12% TO A RECORD $5.32 BILLION FOURTH QUARTER EPS OF $1.02, UP 12% REVENUES INCREASE 9% TO $21. FOURTH QUARTER NET INCOME INCREASES 12% TO A RECORD $5.32 BILLION FOURTH QUARTER EPS OF $1.02, UP 12% REVENUES INCREASE 9% TO $21.9 BILLION CITIGROUP 2004 NET INCOME OF $17.0 BILLION, EPS OF $3.26 REVENUES

More information

Corporate Presentation. Southern Cone / Andean CEO Conference May, 2012

Corporate Presentation. Southern Cone / Andean CEO Conference May, 2012 Corporate Presentation Southern Cone / Andean CEO Conference May, 2012 Our Company 2 Company overview Largest Latin American IT Services provider and an undisputed leader in systems integration, support

More information

W.W. Grainger, Inc. First Quarter 2015 Results Page 1 of 9

W.W. Grainger, Inc. First Quarter 2015 Results Page 1 of 9 W.W. Grainger, Inc. First Quarter 2015 Results Page 1 of 9 News Release GRAINGER REPORTS RESULTS FOR THE 2015 FIRST QUARTER Revises 2015 Guidance Quarterly Summary Sales of $2.4 billion, up 2 percent Operating

More information

Tenet, United Surgical Partners International and Welsh Carson to Create the Nation s Largest Ambulatory Surgery Platform

Tenet, United Surgical Partners International and Welsh Carson to Create the Nation s Largest Ambulatory Surgery Platform NEWS RELEASE Tenet, United Surgical Partners International and Welsh Carson to Create the Nation s Largest Ambulatory Surgery Platform Tenet and USPI to Combine Their Ambulatory Surgery and Imaging Centers

More information

Barracuda Networks, Inc. NYSE: CUDA. February 2014

Barracuda Networks, Inc. NYSE: CUDA. February 2014 Barracuda Networks, Inc. NYSE: CUDA February 2014 Safe Harbor This presentation and the accompanying oral presentation contain forward-looking statements that are based on our management s beliefs and

More information

For personal use only

For personal use only Integrated Research Limited (IRI) FY2015 Annual General Meeting 13 November, 2015 ABN: 76 003 588 449 9 of the top 10 US banks 4 of the world s 10 largest companies 6 of the 10 biggest stock exchanges

More information

Consulting & Professional Services M&A Market Q2 2015

Consulting & Professional Services M&A Market Q2 2015 KPMG Corporate Finance LLC Consulting & Professional Services M&A Quarterly Newsletter Consulting & Professional Services M&A Market Q2 205 The Consulting and Professional Services industry has continued

More information

SOFTWARE CEO GUIDE: Valuation Analysis Online Marketing Software

SOFTWARE CEO GUIDE: Valuation Analysis Online Marketing Software SOFTWARE CEO GUIDE: Valuation Analysis Online Marketing Software TTM CAGR Valuation Analysis FTM GP RR Published July 2014, Copyright From the Partners Determining the value of a private software company

More information

Investor Presentation

Investor Presentation Investor Presentation June 2015 Safe Harbor Statement Statements in this presentation, which are not historical facts, may be deemed to be "forward looking statements. Actual and anticipated future results

More information

EQUITY RESEARCH. S&P Sector Information Technology Industry Software/Computer Services. (Million) (Billion) Bloomberg Yield Forward

EQUITY RESEARCH. S&P Sector Information Technology Industry Software/Computer Services. (Million) (Billion) Bloomberg Yield Forward M.A. W M.A. WRIGHT FUND EQUITY RESEARCH Robert J. Schafer Siebel Systems Inc. NYSE: SEBL Buy schafrob@rice.edu March 05, 2002 MARKET DATA Price 3-05- 02 Close $32.94 52-Wk Range Low Mid- Sept. 12.24 to

More information

Hitachi Transfers Hard Disk Drive Business to Western Digital

Hitachi Transfers Hard Disk Drive Business to Western Digital FOR IMMEDIATE RELEASE Hitachi Transfers Hard Disk Drive Business to Western Digital Irvine, Calif., U.S., and Tokyo, Japan, March 7, 2011 --- Western Digital Corporation (NYSE: WDC, WD ) and Hitachi, Ltd.

More information

LOGO BUSINESS SOLUTIONS

LOGO BUSINESS SOLUTIONS LOGO BUSINESS SOLUTIONS Analyst Presentation for FY 2014 Gülnur Anlaş Chief Financial Officer February 16, 2015 12 1 Disclaimer This presentation contains information and analysis on financial statements

More information

TRANSFORMING FOR SUCCESS: CONTINUOUS VALUE CREATION

TRANSFORMING FOR SUCCESS: CONTINUOUS VALUE CREATION TRANSFORMING FOR SUCCESS: CONTINUOUS VALUE CREATION Brian Shea President, Investment Services Suresh Kumar Chief Information Officer November 12, 2013 The Investments Company for the World Leading Servicer

More information

GOLDMAN SACHS REPORTS THIRD QUARTER LOSS PER COMMON SHARE OF $0.84

GOLDMAN SACHS REPORTS THIRD QUARTER LOSS PER COMMON SHARE OF $0.84 The Goldman Sachs Group, Inc. 200 West Street New York, New York 10282 GOLDMAN SACHS REPORTS THIRD QUARTER LOSS PER COMMON SHARE OF $0.84 NEW YORK, October 18, 2011 - The Goldman Sachs Group, Inc. (NYSE:

More information

Verifone Reports Results for the Second Quarter of Fiscal 2016

Verifone Reports Results for the Second Quarter of Fiscal 2016 Verifone Reports Results for the Second Quarter of Fiscal 2016 SAN JOSE, Calif. (BUSINESS WIRE) Verifone (NYSE: PAY), a world leader in payments and commerce solutions, today announced financial results

More information

TO ACQUIRE FROM MICROSOFT CORPORATION

TO ACQUIRE FROM MICROSOFT CORPORATION TO ACQUIRE FROM MICROSOFT CORPORATION AUGUST 11, 2009 MAURICE LÉVY CHAIRMAN AND CEO, PUBLICIS GROUPE DAVID KENNY MANAGING PARTNER, VIVAKI JEAN-MICHEL ETIENNE EXECUTIVE VP, GROUP CFO 1 Disclaimer Certain

More information

Cloud Computing in Banking

Cloud Computing in Banking Financial Services the way we see it Cloud Computing in Banking What banks need to know when considering a move to the cloud Contents 1 Overview 3 2 Why Cloud Computing for Banks? 4 2.1 Cost Savings and

More information

Digital Customer Engagement

Digital Customer Engagement Digital Customer Engagement First Analysis Investment Banking Industry Update July 2013 Industry Focus: Wave of Consolidation Changing Landscape for Digital Customer Engagement Solutions With the global

More information

What We Are Announcing

What We Are Announcing What We Are Announcing GXS and Inovis announced on that we intend to merge our businesses The terms of the transaction are not disclosed publicly because both companies are privately held Industry transforming

More information

New Developments in Overseas Insurance Business ~ Agreement to Acquire 100% Ownership of a Listed

New Developments in Overseas Insurance Business ~ Agreement to Acquire 100% Ownership of a Listed New Developments in Overseas Insurance Business ~ Agreement to Acquire 100% Ownership of a Listed U.S. Life Insurance Group, StanCorp Financial Group, Inc. ~ July 24, 2015 Meiji Yasuda Life Insurance Company

More information

November, 16th & 17th, 2011

November, 16th & 17th, 2011 November, 16th & 17th, 2011 Company Overview Largest Latin American IT Services provider and an undisputed leader in systems integration, support and IT Outsourcing Independent service provider with world-class

More information

INFORMATION SERVICES GROUP ANNOUNCES SECOND QUARTER FINANCIAL RESULTS

INFORMATION SERVICES GROUP ANNOUNCES SECOND QUARTER FINANCIAL RESULTS Press Contact: Barry Holt 203-517-3110 bholt@informationsg.com Investor Contact: David Berger 203-517-3104 dberger@informationsg.com INFORMATION SERVICES GROUP ANNOUNCES SECOND QUARTER FINANCIAL RESULTS

More information

Timing is Everything

Timing is Everything Timing is Everything Understanding Multiples and Negotiating the Valuation Landscape By Paul Greenhow and David Townley Significant property and casualty insurance broker transactions have recently occurred,

More information

2013 Letter from Our Chairman & CEO

2013 Letter from Our Chairman & CEO 2013 Letter from Our Chairman & CEO In fiscal 2013, we extended our track record of creating exceptional shareholder value. Pierre Nanterme Chairman & CEO Delivering in fiscal 2013 In fiscal 2013, Accenture

More information

Morgan Stanley Reports First Quarter Net Income of $848 Million; Return on Equity of 16%

Morgan Stanley Reports First Quarter Net Income of $848 Million; Return on Equity of 16% Contact: Investor Relations Media Relations William Pike Ray O Rourke 212-761-0008 212-761-4262 For Immediate Release Morgan Stanley Reports First Quarter Net Income of $848 Million; Return on Equity of

More information

Q1 Fiscal Year 2016 Earnings Conference Call

Q1 Fiscal Year 2016 Earnings Conference Call NASDAQ: CMCO Q1 Fiscal Year 2016 Earnings Conference Call July 31, 2015 Timothy T. Tevens President & Chief Executive Officer Gregory P. Rustowicz Vice President - Finance & Chief Financial Officer 2015

More information

Media Contact: Mike Conway Director, Corporate Communications Sherwin-Williams Direct: 216.515.4393 Pager: 216.422.3751 mike.conway@sherwin.

Media Contact: Mike Conway Director, Corporate Communications Sherwin-Williams Direct: 216.515.4393 Pager: 216.422.3751 mike.conway@sherwin. The Sherwin-Williams Company Reports First Quarter 2012 Financial Results Consolidated net sales increased 15.1% to a record $2.14 billion Diluted net income per common share increased 50.8% to a record

More information

EARNINGS RELEASE FOR IMMEDIATE RELEASE EXPEDITORS REPORTS FOURTH QUARTER 2014 EPS OF $0.51 PER SHARE 1

EARNINGS RELEASE FOR IMMEDIATE RELEASE EXPEDITORS REPORTS FOURTH QUARTER 2014 EPS OF $0.51 PER SHARE 1 By: Expeditors International of Washington, Inc. 1015 Third Avenue, Suite 1200 Seattle, Washington 98104 EARNINGS RELEASE CONTACTS: R. Jordan Gates Bradley S. Powell President and Chief Operating Officer

More information

Reduce Risk and Increase Speed Using Gartner's Guide for Salesforce.com Implementation Partners

Reduce Risk and Increase Speed Using Gartner's Guide for Salesforce.com Implementation Partners G00255286 Reduce Risk and Increase Speed Using Gartner's Guide for Salesforce.com Implementation Partners Published: 21 August 2013 Analyst(s): Frances Karamouzis, Patrick J. Sullivan The adoption of salesforce.com

More information

M&A Overview September 2014. Enterprise Applications

M&A Overview September 2014. Enterprise Applications asasa M&A Overview Enterprise Applications 17 Woodstock Street, London, W1C 2AJ Suite 200, 1 Sutter St, San Francisco, CA 94104, US Our Enterprise Applications report covers the two and a half year period

More information

Atos to acquire Bull to create a European global leader in Cloud, IT Security solutions, and Big Data. May 26 th, 2014

Atos to acquire Bull to create a European global leader in Cloud, IT Security solutions, and Big Data. May 26 th, 2014 Atos to acquire Bull to create a European global leader in Cloud, IT Security solutions, and Big Data May 26 th, 2014 Disclaimer This document contains further forward-looking statements that involve risks

More information

ZS Executive Summary

ZS Executive Summary ZS Executive Summary Diamonds in the Rough: ZS Research on SMB Cloud Channel Preferences Three things tech vendors need to know of channel partners in defining cloud service programs for SMBs John DeSarbo

More information

Walmart reports Q1 FY 16 EPS of $1.03

Walmart reports Q1 FY 16 EPS of $1.03 Walmart reports Q FY 6 EPS of.03 Q diluted EPS from continuing operations was.03, within guidance of 0.95 to.0. Currency negatively impacted EPS by approximately 0.03. Walmart U.S..% comp includes positive

More information

IT OUTSOURCING STUDY GERMANY/AUSTRIA 2015 MANAGEMENT SUMMARY

IT OUTSOURCING STUDY GERMANY/AUSTRIA 2015 MANAGEMENT SUMMARY IT OUTSOURCING STUDY GERMANY/AUSTRIA 2015 MANAGEMENT SUMMARY Whitelane Research / Navisco AG - Sourcing Professionals 1 MANAGEMENT SUMMARY The 2015 German/Austrian IT Outsourcing Study, conducted by Whitelane

More information

US PE/VC Benchmark Commentary Quarter and Year Ending December 31, 2013

US PE/VC Benchmark Commentary Quarter and Year Ending December 31, 2013 US PE/VC Benchmark Commentary Quarter and Year Ending December 31, 2013 In 2013, US private equity and venture capital turned in their best annual performance since 2006 and 1999, respectively. Strong

More information

Re: Agreement to Commence the Process for the Acquisition of Amlin, a UK Insurance Holding Company by Mitsui Sumitomo Insurance

Re: Agreement to Commence the Process for the Acquisition of Amlin, a UK Insurance Holding Company by Mitsui Sumitomo Insurance September 8, 2015 MS&AD Insurance Group Holdings, Inc. Re: Agreement to Commence the Process for the Acquisition of Amlin, a UK Insurance Holding Company by Mitsui Sumitomo Insurance Mitsui Sumitomo Insurance

More information

Power Matters. Acquisition of PMC. October 19, 2015

Power Matters. Acquisition of PMC. October 19, 2015 Power Matters Acquisition of PMC October 19, 2015 Disclaimer Cautionary Note Concerning Forward-Looking Statements Statements in this presentation regarding Microsemi s offer to acquire PMC-Sierra Inc.

More information

PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%)

PEER GROUPS CMP MARKET CAP EPS P/E (X) P/BV(X) DIVIDEND Company Name (Rs.) Rs. in mn. (Rs.) Ratio Ratio (%) BUY CMP 170.30 Target Price 196.00 GEOMETRIC LTD Result Update (CONSOLIDATED): Q2 FY16 DECEMBER 17 th 2015 ISIN: INE797A01021 12 th h, 2013 Index Details Stock Data Sector IT Consulting & Software BSE

More information

ClickSoftware Technologies Ltd. (NasdaqGS: CKSW) Company Presentation

ClickSoftware Technologies Ltd. (NasdaqGS: CKSW) Company Presentation ClickSoftware Technologies Ltd. (NasdaqGS: CKSW) Company Presentation Presentation Outline Company Overview Market and Leadership Position Customers and Partners The Need and Our Solution Return on Investment

More information

Earnings Release. Investor Relations HIGHLIGHTS. Brasil Insurance discloses its 4Q10 results

Earnings Release. Investor Relations HIGHLIGHTS. Brasil Insurance discloses its 4Q10 results Investor Relations Bruno Padilha de Lima Costa Investor Relations Officer (55 21) 3433-5060 ri@brasilinsurance.com.br 4Q10 Earnings Conference Call Thursday, March 31, 2010 Portuguese 10:00 a.m. (BR);

More information

UK ICT Outsourcing Service Provider Performance and Satisfaction (SPPS) Study: 2013

UK ICT Outsourcing Service Provider Performance and Satisfaction (SPPS) Study: 2013 A STUDY BY KPMG UK ICT Outsourcing Service Provider Performance and Satisfaction (SPPS) Study: 2013 A study of the UK Information and Communication Technology (ICT) Outsourcing Market and its Service Providers

More information

Market Capitalization $30.5 Billion

Market Capitalization $30.5 Billion BUY HOLD SELL A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F Annual Dividend Rate BUY BUY RATING SINCE 09/12/2013 TARGET PRICE $14.28 WIT BUSINESS DESCRIPTION Wipro Limited operates as an information technology

More information

Garmin Reports Best Quarter and Best Year in Company History, Announces Share Repurchase Program, Offers 2008 Guidance

Garmin Reports Best Quarter and Best Year in Company History, Announces Share Repurchase Program, Offers 2008 Guidance INVESTOR CONTACT: Polly Schwerdt Phone 913/397-8200 E-Mail investor.relations@garmin.com MEDIA CONTACT: Ted Gartner Phone 913/397-8200 E-Mail media.relations@garmin.com Garmin Reports Best Quarter and

More information

NetApp Announces Results for Third Quarter Fiscal Year 2013

NetApp Announces Results for Third Quarter Fiscal Year 2013 NetApp Announces Results for Third Quarter Fiscal Year 2013 Reports Q3 FY 13 Revenues of $1.630 Billion; Non-GAAP Earnings per Share of $0.67 February 13, 2013 View Financial Tables (PDF) Sunnyvale, Calif.

More information

Recognized Leader in Human Capital Management. Paul Lacy President Mark Julien Chief Financial Officer 1

Recognized Leader in Human Capital Management. Paul Lacy President Mark Julien Chief Financial Officer 1 Recognized Leader in Human Capital Management Paul Lacy President Mark Julien Chief Financial Officer 1 Safe Harbor Statement This presentation may contain forward-looking statements that involve a number

More information

For personal use only

For personal use only Integrated Research Limited (IRI) FY2015 Annual Financial Results August, 2015 ABN: 76 003 588 449 9 of the top 10 US banks 4 of the world s 10 largest companies 6 of the 10 biggest stock exchanges 7 of

More information

Belden. Leading the Way to an Interconnected World. August 2015. 2015 Belden Inc. belden.com @BeldenInc

Belden. Leading the Way to an Interconnected World. August 2015. 2015 Belden Inc. belden.com @BeldenInc Belden Leading the Way to an Interconnected World August 2015 2015 Belden Inc. belden.com @BeldenInc Belden s Business Transformation Portfolio Expansion Market and Geographic Footprint Talent/ Leadership

More information

Management Commentary. Second Quarter 2015 Results

Management Commentary. Second Quarter 2015 Results Management Commentary Second Quarter 2015 Results The RetailMeNot, Inc. ( RetailMeNot ) earnings call will begin on August 5, 2015 at 7:00am central time (8:00am eastern time) and will include prepared

More information

Full Year Results 2014

Full Year Results 2014 Full Year Results 2014 18 March 2015 Conference call on FY Results 2014 Corporate Finance & Investor Relations AGENDA FY 2014 results presentation Highlights 2014 Financials 2014 Outlook 2015 Appendix

More information

GOLDMAN SACHS REPORTS FIRST QUARTER EARNINGS PER COMMON SHARE OF $4.02

GOLDMAN SACHS REPORTS FIRST QUARTER EARNINGS PER COMMON SHARE OF $4.02 The Goldman Sachs Group, Inc. 200 West Street New York, New York 10282 GOLDMAN SACHS REPORTS FIRST QUARTER EARNINGS PER COMMON SHARE OF $4.02 NEW YORK, April 17, 2014 - The Goldman Sachs Group, Inc. (NYSE:

More information

LADENBURG THALMANN REPORTS FOURTH QUARTER AND FULL YEAR 2008 RESULTS. 2008 Revenues Increase 26% Due to Acquisitions

LADENBURG THALMANN REPORTS FOURTH QUARTER AND FULL YEAR 2008 RESULTS. 2008 Revenues Increase 26% Due to Acquisitions FOR IMMEDIATE RELEASE Contact: Paul Caminiti/Carrie Bloom/Jonathan Doorley Sard Verbinnen & Co 212/687-8080 LADENBURG THALMANN REPORTS FOURTH QUARTER AND FULL YEAR 2008 RESULTS 2008 Revenues Increase 26%

More information

FOSSIL GROUP, INC. REPORTS THIRD QUARTER 2014 RESULTS. Third Quarter Net Sales Increase 10% to $894 Million; Diluted EPS Increases 24% to $1.

FOSSIL GROUP, INC. REPORTS THIRD QUARTER 2014 RESULTS. Third Quarter Net Sales Increase 10% to $894 Million; Diluted EPS Increases 24% to $1. FOSSIL GROUP, INC. REPORTS THIRD QUARTER RESULTS Third Quarter Net Sales Increase 10% to $894 Million; Diluted EPS Increases 24% to $1.96 Updates Full Year Guidance and Provides Fourth Quarter Guidance

More information

Intel Reports Second-Quarter Results

Intel Reports Second-Quarter Results Intel Corporation 2200 Mission College Blvd. Santa Clara, CA 95054-1549 CONTACTS: Mark Henninger Amy Kircos Investor Relations Media Relations 408-653-9944 480-552-8803 mark.h.henninger@intel.com amy.kircos@intel.com

More information

GOLDMAN SACHS REPORTS FIRST QUARTER EARNINGS PER COMMON SHARE OF $5.94 AND INCREASES THE QUARTERLY DIVIDEND TO $0.65 PER COMMON SHARE

GOLDMAN SACHS REPORTS FIRST QUARTER EARNINGS PER COMMON SHARE OF $5.94 AND INCREASES THE QUARTERLY DIVIDEND TO $0.65 PER COMMON SHARE The Goldman Sachs Group, Inc. 200 West Street New York, New York 10282 GOLDMAN SACHS REPORTS FIRST QUARTER EARNINGS PER COMMON SHARE OF $5.94 AND INCREASES THE QUARTERLY DIVIDEND TO $0.65 PER COMMON SHARE

More information

3 rd Quarter 2014 Earnings Conference Call Transcript

3 rd Quarter 2014 Earnings Conference Call Transcript 3 rd Quarter 2014 Earnings Conference Call Transcript Overview*: BDC reported 3Q14 consolidated revenues of $613.1M, income from continuing operations of $50.4M and diluted EPS from continuing operations

More information

Morgan Stanley Reports First Quarter 2016:

Morgan Stanley Reports First Quarter 2016: Media Relations: Michele Davis 212-761-9621 Investor Relations: Kathleen McCabe 212-761-4469 Morgan Stanley Reports First Quarter 2016: Net Revenues of $7.8 Billion and Earnings per Diluted Share of $0.55

More information

For personal use only

For personal use only Prophecy International Holdings Ltd. Ed Reynolds Chairman 1 Legal Disclaimer This presentation has been prepared by Prophecy International Holdings Limited. The information in this presentation is of a

More information

First-Quarter 2014 Financial Results

First-Quarter 2014 Financial Results First-Quarter 2014 Financial Results www.unisys.com/investor Ed Coleman Chairman & CEO Janet Haugen SVP & CFO April 22, 2014 Disclaimer Statements made by Unisys during today's presentation that are not

More information

MORGAN STANLEY Financial Supplement - 4Q 2015 Table of Contents

MORGAN STANLEY Financial Supplement - 4Q 2015 Table of Contents Page # MORGAN STANLEY Financial Supplement - 4Q 2015 Table of Contents 1. Quarterly Consolidated Financial Summary 2. Quarterly Consolidated Income Statement Information 3. Quarterly Consolidated Financial

More information

Announcement of Completion of Heraeus Holding GmbH s Dental Materials Business Share Purchase

Announcement of Completion of Heraeus Holding GmbH s Dental Materials Business Share Purchase July 1, 2013 Mitsui Chemicals, Inc. Announcement of Completion of Heraeus Holding GmbH s Dental Materials Business Share Purchase Mitsui Chemicals, Inc. (Toshikazu Tanaka, President & CEO) announced in

More information

CITIGROUP REPORTS FOURTH QUARTER 2011 NET INCOME OF $1.2 BILLION OR $0.38 PER SHARE 1, COMPARED TO $1.3 BILLION OR $0.43 IN FOURTH QUARTER 2010

CITIGROUP REPORTS FOURTH QUARTER 2011 NET INCOME OF $1.2 BILLION OR $0.38 PER SHARE 1, COMPARED TO $1.3 BILLION OR $0.43 IN FOURTH QUARTER 2010 On February 9, 2012, Citi announced an adjustment to its fourth quarter and full year 2011 financial results to reflect an additional $209 million of after-tax ($275 million pre-tax) charges to increase

More information

NetSuite: Global Leader in Cloud ERP

NetSuite: Global Leader in Cloud ERP NetSuite: Global Leader in Cloud ERP NYSE : N As of April 28, 2015 Safe Harbor Statement This presentation contains forward-looking statements that involve risks, uncertainties and assumptions relating

More information

Walmart reports Q3 FY 16 EPS of $1.03, Walmart U.S. added $2.7 billion in sales, comp sales of 1.5%

Walmart reports Q3 FY 16 EPS of $1.03, Walmart U.S. added $2.7 billion in sales, comp sales of 1.5% Walmart reports Q3 FY 6 EPS of.03, Walmart U.S. added 2.7 billion in sales, comp sales of.5% Q3 diluted EPS from continuing operations was.03, benefited by approximately 0.04 from an adjustment for certain

More information

Herald Investment Management June 2015. Herald Investment Management Ltd is authorised and regulated by the Financial Conduct Authority

Herald Investment Management June 2015. Herald Investment Management Ltd is authorised and regulated by the Financial Conduct Authority Herald Investment Management June 2015 Herald Investment Management Ltd is authorised and regulated by the Financial Conduct Authority This presentation is intended for professional investors only Investors

More information

Peter Duflo Managing Partner

Peter Duflo Managing Partner Virtual IT in the Cloud By Mike Pellegrino, who is the former CIO at Sun Products, CIO at Frontier Communications, VP of IT at FujiFilm Holdings America and now a strategic IT consultant and President

More information