Driving Shareholder Value

Save this PDF as:
Size: px
Start display at page:

Download "Driving Shareholder Value"

Transcription

1 Driving Shareholder Value Business Model and Capital Allocation Strategy Wolfgang Nickl CFO, Western Digital September 13, 2012

2 SAFE HARBOR Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning our expected financial results, our business model and financial goals and our capital allocation strategy. These forward-looking statements are based on management s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including the impact of continued uncertainty and volatility in global economic conditions; supply and demand conditions in the hard drive industry; uncertainties concerning the availability and cost of commodity materials and specialized product components; actions by competitors; unexpected advances in competing technologies; uncertainties related to the development and introduction of products based on new technologies and expansion into new data storage markets; business conditions and growth in the various hard drive markets; pricing trends and fluctuations in average selling prices; and compliance with regulatory conditions imposed on us by the Chinese Ministry of Commerce. More information about the other risks and uncertainties that could affect our business are listed in our filings with the Securities and Exchange Commission (the SEC ) and available on the SEC s website at including our Annual Report on Form 10-K filed with the SEC on August 17, 2012, to which your attention is directed. In addition, our long-term financial goals included in this presentation are based upon a variety of estimates and assumptions which may not be realized and, in addition to the risks identified above, are inherently subject to business, economic, competitive, industry, regulatory, market and financial uncertainties, many of which are beyond our control. There can be no assurance that the assumptions made in preparing our long-term financial goals will prove accurate or will be achieved. The assumptions our management used as a basis for the long-term financial goals are not facts and should not be relied upon as being necessarily indicative of future results, and investors are cautioned not to place undue reliance on the these long-term financial goals. The forward-looking statements, including the long-term financial goals included in this presentation, speak only as of the date hereof. We do not intend, and we undertake no duty, to update these forward-looking statements to reflect subsequent events or circumstances; however, we may update our business outlook or long-term financial goals or any portion thereof at any time in our discretion. 2

3 SAFE HARBOR Non-GAAP Financial Measures This presentation also includes the following financial measures that are not defined in accordance with U.S. generally accepted accounting principles: non-gaap earnings per share and free cash flow. Non-GAAP earnings per share is a non-gaap financial measure defined as earnings per share before any unusual or non-recurring charges or any tax impact related to those charges. The non-gaap earnings per share information included in this presentation is provided on a forward-looking basis and excludes certain items such as amortization of intangibles and the diluted impact of sales of drives to Toshiba in connection with our divestiture transaction. Because we cannot forecast these items with certainty or accuracy based on information known to us at this time, we are unable to provide a reconciliation to the most directly comparable GAAP financial measure. The impact of these excluded items may cause non-gaap earnings per share to differ materially from earnings per share calculated in accordance with GAAP. Free cash flow is a non-gaap financial measure defined as cash flows from operations less capital expenditures. We consider free cash flow to be useful as an indicator of our overall liquidity, as the amount of free cash flow generated in any period is representative of cash that is available for strategic opportunities including, among others, investing in the Company's business, making strategic acquisitions, strengthening the balance sheet, repaying debt and repurchasing stock. We also believe that free cash flow is one of several benchmarks used by investors for comparison of our liquidity with other companies in our industry, although our measure of free cash flow may not be directly comparable to similar measures reported by other companies. Free cash flow should not be construed as an alternative to cash flows from operations or other cash flow measurements determined in accordance with GAAP. A reconciliation of free cash flow as provided in this presentation on a historical basis to cash flows from operations, the most directly comparable GAAP financial measure, is included in the slide captioned Appendix. Our long-term financial goals for free cash flow are presented on a forward-looking basis and exclude estimates for capital expenditures. Because we cannot forecast this measure with certainty or accuracy based on information known to us at this time, we are unable to provide a reconciliation to the most directly comparable GAAP financial measure. The impact of excluding this item may cause free cash flow to differ materially from cash flows from operations calculated in accordance with GAAP. 3

4 AGENDA Topics years of profitable growth FY 13 forecast ROIC management Economic profit levers New business model Capital allocation strategy 4

5 10 YEAR HISTORY Cost Leadership + Diversification + Strategic Acquisitions = Profitable Growth Free Cash Flow in $M $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 FCF in $M GM% 35% 30% 25% 20% 20 15% 15 10% 10 Gross Margin $400 $200 5% 5 $0 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 0% 0 5 Note: FY12 excludes the effect to free cash flow of the $585M of assumed debt as a result of the HGST acquisition on March 8, Free cash flow is a non-gaap financial measure defined as cash flow s from operations less capital expenditures. A reconciliation of cash flow from operations to free cash flow s for the periods presented is set forth in the Appendix

6 Business Segment Trends Quality + Portfolio = Customer Preference 70 F1Q03 Units (M) 70 F4Q12 Units (M) % TAM = 53 TAM = 157 WDC share = 16% WDC share = 45% % 30 27% % 45% 10 28% 10 44% 0 CE Desktop Notebook Branded Enterprise 0 CE Desktop Notebook Branded Enterprise Rest of Market Western Digital 6

7 SHAREHOLDER RETURN Strategy Resulted in 25% CAGR in WDC Stock 1,200 1,000 WDC S&P (200) Source: Yahoo! Finance 7

8 FY13 FORECAST $10 Non GAAP EPS $16.00 $14.00 $12.00 $10.00 $8.00 $8.61 $10.00 $6.00 $4.00 $2.00 $0.00 FY2012 Vol&Mix Cost Price Opex Financial FY2013 Key Initiatives Investments: Thin and light, Cloud, SSD, Connected Life Cost opportunities: Sourcing, utilization, freight, areal density deployment Capital investments focused on: Technology and flexibility Capital allocation strategy 8 Non-GAAP EPS is a non-gaap financial measure defined as EPS before any unusual or non-recurring charges or any tax impact related to those charges. Because we cannot forecast these items with certainty or accuracy based on information known to us at this time, we are unable to provide a reconciliation to the most directly comparable GAAP financial measure. The impact of these excluded items may cause non-gaap earnings per share to differ materially from earnings per share calculated in accordance with GAAP.

9 ROIC MANAGEMENT Key Financial Driver of Business Model 40% 35% Operating Margin 30% 25% 20% 15% 10% Semiconductor WDC Economic profit when expressed in $ terms 5% 0% Invested Capital Turns Distribution Hurdle rate 20% WACC 11% 9

10 ECONOMIC PROFIT LEVERS Basis for Value Based Management Revenue Customer delight Product innovation (7-platter, Hybrid, 5 mm, ) Volume price mix Adjacent businesses (SSD, Connected Life, ) NOPAT COGS Recovery from the flood (component mix, utilization, freight, AD deployment) Focus on quality Economic Profit Charge for Invested Capital OPEX Fixed Capital Working Capital Future efficiency potential Focus on variability of model Target utilization: 90% 95% Optimal level of automation Industry leading productivity metrics Cash conversion cycle Distribution of excess cash WACC Leverage 10

11 BUSINESS MODEL Significant Opportunity Pre-Acquisition New Model Comments Gross Margin (% of revenue) OPEX (% of revenue) 18% - 23% 27% - 32% 9% - 10% 10% - 12% Varies by business unit New businesses alter model ~$550m per quarter for FY 13/14 ~2/3 for research & development Tax Rate (% of PTI) 6% - 9% 7% - 10% Without potential future repatriation CAPEX (% of revenue) CCC (days) 7% - 8% 5% - 7% Modest volume growth assumptions technology investments / transitions Continued strong focus on working capital efficiency Our long-term financial goals are based upon a variety of estimates and assumptions w hich may not be realized. The assumptions our management used as a basis for the long-term financial goals are not facts and should not be relied upon as being necessarily indicative of future results. The company does not intend, and undertakes no duty, to update these long-term financial goals to reflect subsequent events or circumstances; however, the company may update these long-term financial goals or any portion thereof at any time at its discretion. 11

12 CAPITAL ALLOCATION STRATEGY Focused on Shareholder Value Key Financial Considerations Minimum cash for operations and contingencies Focus on CAPEX and CCC Investment grade leverage Rigorous, DCF based review of acquisitions Executive compensation aligned to Economic Profit Mix of buybacks / dividends Cash Return to Shareholders Targeting to return 50% of FCF Additional $1.5b share buyback authorization Quarterly dividend of $0.25 share buybacks dividends multiple of FCF 12

13 Thank you

14 Appendix Free cash flow is a non-gaap financial measure defined as cash flows from operations less capital expenditures. A reconciliation of cash flow from operations to free cash flow for the periods presented is below: 14

Mitel Q3 2015 Earnings Call Presentation. November 5, 2015

Mitel Q3 2015 Earnings Call Presentation. November 5, 2015 Mitel Q3 2015 Earnings Call Presentation November 5, 2015 Safe Harbor Statement Forward Looking Statements This presentation contains projections and other forward-looking statements regarding future events

More information

4Q and FYE 2014 Results Conference Call

4Q and FYE 2014 Results Conference Call A global environmental technology company focused on air pollution control, energy, fluid handling and filtration industries 4Q and FYE 2014 Results Conference Call March 5, 2015 1 Safe Harbor Statement

More information

APX GROUP HOLDINGS, INC. REPORTS FIRST QUARTER 2014 FINANCIAL RESULTS

APX GROUP HOLDINGS, INC. REPORTS FIRST QUARTER 2014 FINANCIAL RESULTS APX GROUP HOLDINGS, INC. REPORTS FIRST QUARTER 2014 FINANCIAL RESULTS 1st Quarter Financial Highlights Total revenues of $130.2 million for the first quarter 2014, an increase of 21.8%, compared to $106.9

More information

Driving Datacenter Change

Driving Datacenter Change Driving Datacenter Change Storage Opportunities in the Cloud Mike Cordano President, HGST, a Western Digital company September 13, 2012 SAFE HARBOR Forward Looking Statements These presentations contain

More information

First Quarter 2015 Earnings Conference Call. April 28, 2015

First Quarter 2015 Earnings Conference Call. April 28, 2015 First Quarter 2015 Earnings Conference Call April 28, 2015 Forward-looking Statements This presentation contains forward-looking statements. These forward-looking statements include statements related

More information

Veritiv Corporation 2Q14 Financial Results. August 13, 2014

Veritiv Corporation 2Q14 Financial Results. August 13, 2014 Veritiv Corporation 2Q14 Financial Results August 13, 2014 Safe Harbor Provision Certain statements contained in this presentation regarding Veritiv Corporation s (the Company ) future operating results,

More information

Hewlett-Packard Separation Will Create Two New Industry-Leading Public Companies

Hewlett-Packard Separation Will Create Two New Industry-Leading Public Companies Hewlett-Packard Separation Will Create Two New Industry-Leading Public Companies Investor Presentation October 6, 2014 Safe harbor This presentation contains forward-looking statements that involve risks,

More information

APX GROUP HOLDINGS, INC. REPORTS FIRST QUARTER 2015 RESULTS

APX GROUP HOLDINGS, INC. REPORTS FIRST QUARTER 2015 RESULTS APX GROUP HOLDINGS, INC. REPORTS FIRST QUARTER 2015 RESULTS First Quarter 2015 Financial and Portfolio Highlights APX Group Reports Total Revenue of $149.9 Million, up 14.9% Year over Year Adjusted EBITDA

More information

FREQUENTLY ASKED QUESTIONS

FREQUENTLY ASKED QUESTIONS Q1: What is being announced today? A1: HGST, a wholly owned subsidiary of Western Digital Corporation, has completed the acquisition of Amplidata, a privately-held developer of object storage software

More information

Lockheed Martin Corporation

Lockheed Martin Corporation Lockheed Martin Corporation Portfolio Shaping Actions & 2 nd Quarter 2015 Financial Results July 20, 2015 11:00 am EDT Webcast login at www.lockheedmartin.com/investor Webcast replay & podcast available

More information

Revenue and Gross Margin

Revenue and Gross Margin Units (in millions) Market Share Amounts in millions; except per share amounts, Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY12 6 ASP, percentages. FY08 FY09 FY09 FY09 FY09 FY10 FY10 FY10 FY10

More information

2015 Fourth Quarter Earnings. January 28, 2016

2015 Fourth Quarter Earnings. January 28, 2016 2015 Fourth Quarter Earnings January 28, 2016 Safe Harbor Statement Forward-Looking Statements Information in this presentation contains forward-looking statements. Any statements about our expectations,

More information

FISCAL Q3 2016 SUPPLEMENTAL FINANCIAL INFORMATION

FISCAL Q3 2016 SUPPLEMENTAL FINANCIAL INFORMATION FISCAL Q3 2016 SUPPLEMENTAL FINANCIAL INFORMATION April 29, 2016 Safe Harbor Statement This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933

More information

Sanford C. Bernstein Strategic Decisions Conference. May 2014. Tom Lynch Chairman and Chief Executive Officer

Sanford C. Bernstein Strategic Decisions Conference. May 2014. Tom Lynch Chairman and Chief Executive Officer Sanford C. Bernstein Strategic Decisions Conference May 2014 Tom Lynch Chairman and Chief Executive Officer FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES Forward-Looking Statements -- This presentation

More information

Zynga Q1 14 Financial Results April 23, 2014

Zynga Q1 14 Financial Results April 23, 2014 Zynga Q1 14 Financial Results April 23, 2014 1 Table of Contents Discussion of Q1 14 Performance Q2 14 and FY2014 Financial Outlook GAAP to Non-GAAP Reconciliation 2 Management Team Don Mattrick Chief

More information

Performance Food Group Company Reports First-Quarter Fiscal 2016 Earnings

Performance Food Group Company Reports First-Quarter Fiscal 2016 Earnings NEWS RELEASE For Immediate Release November 4, 2015 Investors: Michael D. Neese VP, Investor Relations (804) 287-8126 michael.neese@pfgc.com Media: Joe Vagi Manager, Corporate Communications (804) 484-7737

More information

Sierra Wireless Reports Second Quarter 2015 Results

Sierra Wireless Reports Second Quarter 2015 Results Sierra Wireless Reports Second Quarter 2015 Results Q2 2015 revenue of $158 million; 17% year-over-year growth Record revenue of $158.0 million, an increase of 17.0% compared to Q2 2014 Non-GAAP earnings

More information

Lockheed Martin Corporation

Lockheed Martin Corporation Lockheed Martin Corporation 4 th Quarter 2015 Financial Results Conference Call 11:00 am EST Webcast login at www.lockheedmartin.com/investor Webcast replay & podcast available by 2:00 p.m. EST at www.lockheedmartin.com/investor.

More information

Monster Worldwide, Inc. Q1 2014 Financial Highlights

Monster Worldwide, Inc. Q1 2014 Financial Highlights Monster Worldwide, Inc. Q1 2014 Financial Highlights May 1, 2014 Safe Harbor Statement The statements in this presentation that are not strictly historical, including without limitation statements regarding

More information

VMW Q1-2015 Earnings Conference Call. 2014 VMware Inc. All rights reserved.

VMW Q1-2015 Earnings Conference Call. 2014 VMware Inc. All rights reserved. VMW Q1-2015 Earnings Conference Call 2014 VMware Inc. All rights reserved. Speakers Slide 2 Paul Ziots VP, Investor Relations Pat Gelsinger CEO Carl Eschenbach President & COO Jonathan Chadwick CFO & COO

More information

MOUNTAIN VIEW, Calif. April 18, 2013 - Google Inc. (NASDAQ: GOOG) today announced financial results for the quarter ended March 31, 2013.

MOUNTAIN VIEW, Calif. April 18, 2013 - Google Inc. (NASDAQ: GOOG) today announced financial results for the quarter ended March 31, 2013. Google Inc. Announces First Quarter 2013 Results MOUNTAIN VIEW, Calif. April 18, 2013 - Google Inc. (NASDAQ: GOOG) today announced financial results for the quarter ended March 31, 2013. "We had a very

More information

Three Months Ended March 31, 2015 Revenues $ 15,420 $ 17,258 Increase in revenues year over year 19% 12%

Three Months Ended March 31, 2015 Revenues $ 15,420 $ 17,258 Increase in revenues year over year 19% 12% Exhibit 99.1 Google Inc. Announces First Quarter 2015 Results MOUNTAIN VIEW, Calif. April 23, 2015 - Google Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended. Google s

More information

EMC Q1 2014 Financial Results

EMC Q1 2014 Financial Results EMC Q1 2014 Financial Results Tony Takazawa Vice President, Global Investor Relations April 23, 2014 1 Forward-Looking Statements This presentation contains forward-looking statements as defined under

More information

Financial Translation. Pierre Courduroux Senior Vice President and Chief Financial Officer

Financial Translation. Pierre Courduroux Senior Vice President and Chief Financial Officer Financial Translation Pierre Courduroux Senior Vice President and Chief Financial Officer Forward-Looking Statements Certain statements contained in this presentation are forward-looking statements, such

More information

HP Q4 FY15 Earnings Announcement

HP Q4 FY15 Earnings Announcement HP Q4 FY15 Earnings Announcement November 24, 2015 http://www.hp.com/investor/home Forward-looking statements This presentation contains forward-looking statements that involve risks, uncertainties and

More information

Jefferies Healthcare Conference

Jefferies Healthcare Conference Jefferies Healthcare Conference Marc Naughton Executive Vice President and Chief Financial Officer June 2, 2015 Safe Harbor Statement This presentation may contain forward-looking statements, including

More information

Hewlett Packard Securities Analyst Meeting 2015. #hpesam2015

Hewlett Packard Securities Analyst Meeting 2015. #hpesam2015 Hewlett Packard Securities Analyst Meeting 2015 #hpesam2015 1 Financial Review Tim Stonesifer Executive Vice President and Chief Financial Officer 2 Hewlett Packard Enterprise is an attractive investment

More information

617-444-3913 617-274-7130 AKAMAI REPORTS SECOND QUARTER 2015 FINANCIAL RESULTS

617-444-3913 617-274-7130 AKAMAI REPORTS SECOND QUARTER 2015 FINANCIAL RESULTS FOR IMMEDIATE RELEASE Contacts: Jeff Young Tom Barth Media Relations Investor Relations Akamai Technologies Akamai Technologies 617-444-3913 617-274-7130 jyoung@akamai.com tbarth@akamai.com AKAMAI REPORTS

More information

Financial Outlook* Michael Bell Executive Vice President and Chief Financial Officer CIGNA Corporation

Financial Outlook* Michael Bell Executive Vice President and Chief Financial Officer CIGNA Corporation Financial Outlook* Michael Bell Executive Vice President and Chief Financial Officer CIGNA Corporation *Information presented as of November 21, 2008 Agenda 2008 & 2009 Financial Outlook Critical Success

More information

Overview Presentation to Investors. November 2015

Overview Presentation to Investors. November 2015 Overview Presentation to Investors November 2015 Forward-Looking Statements Statements about future results made in this presentation constitute forward-looking statements within the meaning of the Private

More information

Challenging quarter for Mobile Devices. Daily order rates improving. Free Cash Flow > Net Income. FCT acquisition. Page 3

Challenging quarter for Mobile Devices. Daily order rates improving. Free Cash Flow > Net Income. FCT acquisition. Page 3 August 7, 2013 Page 1 Statements in this release that are not historical are forward-looking and are subject to various risks and uncertainties that could cause actual results to vary materially from those

More information

Lockheed Martin Corporation

Lockheed Martin Corporation Lockheed Martin Corporation 3 rd Quarter 2015 Financial Results Conference Call 11:00 am EDT Webcast login at www.lockheedmartin.com/investor Webcast replay & podcast available by 2:00 p.m. EDT at www.lockheedmartin.com/investor.

More information

DELL INC. Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data and percentages) (unaudited)

DELL INC. Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data and percentages) (unaudited) Condensed Consolidated Statement of Income and Related Financial Highlights (in millions, except per share data and percentages) Three Months Ended % Growth Rates August 2, May 3, August 3, 2013 2013 2012

More information

First Quarter 2015 Earnings Conference Call. May 12, 2015

First Quarter 2015 Earnings Conference Call. May 12, 2015 First Quarter 2015 Earnings Conference Call May 12, 2015 Forward Looking Statements Statements made in this presentation that relate to our future performance or future financial results or other future

More information

Fourth Quarter 2015 Earnings Release February 3, 2016

Fourth Quarter 2015 Earnings Release February 3, 2016 Fourth Quarter 2015 Earnings Release February 3, 2016 Alexander M. Cutler Forward-looking Statements and Non-GAAP Financial Information This presentation or the comments we make on our call today contain

More information

2015 20 th Anniversary of RCI s IPO Two decades of innovation in the adult club segment of the hospitality industry

2015 20 th Anniversary of RCI s IPO Two decades of innovation in the adult club segment of the hospitality industry 2015 20 th Anniversary of RCI s IPO Two decades of innovation in the adult club segment of the hospitality industry NASDAQ: RICK 4Q15 & FY15 Earnings Conference Call December 14, 2015 www.rcihospitality.com

More information

Second Quarter 2014 Earnings Conference Call. July 24, 2014

Second Quarter 2014 Earnings Conference Call. July 24, 2014 Second Quarter 2014 Earnings Conference Call July 24, 2014 Safe Harbor Statement & Non-GAAP Information Safe Harbor Statement This presentation contains forward-looking statements within the meaning of

More information

Annual Meeting of Shareholders

Annual Meeting of Shareholders Annual Meeting of Shareholders William M. Brown Chairman, President & Chief Executive Officer 10/24/2014 1 Forward-looking statements Statements in this presentation that are not historical facts are forward-looking

More information

Q3 2013 Financial Highlights. October 16, 2013

Q3 2013 Financial Highlights. October 16, 2013 October 16, 2013 This presentation contains non-gaap measures relating to the company's performance. You can find the reconciliation of these measures to the nearest comparable GAAP measures in the appendix

More information

First-Quarter 2016 Performance Review

First-Quarter 2016 Performance Review First-Quarter 2016 Performance Review Dennis Muilenburg Chairman, President and Chief Executive Officer Greg Smith Chief Financial Officer Executive Vice President, Corporate Development & Strategy April

More information

BlackBerry Reports Strong Software Revenue and Positive Cash Flow for the Fiscal 2016 First Quarter

BlackBerry Reports Strong Software Revenue and Positive Cash Flow for the Fiscal 2016 First Quarter FOR IMMEDIATE RELEASE June 23, BlackBerry Reports Strong Software Revenue and Positive Cash Flow for the Fiscal 2016 First Quarter Waterloo, ON BlackBerry Limited (NASDAQ: BBRY; TSX: BB), a global leader

More information

2015, PAYCHEX, Inc. All rights reserved. Third Quarter Highlights and Financial Results Fiscal 2016

2015, PAYCHEX, Inc. All rights reserved. Third Quarter Highlights and Financial Results Fiscal 2016 Third Quarter Highlights and Financial Results Fiscal 2016 Forward Looking Statements You should be aware that certain written and oral statements made by management may constitute forward-looking statements

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

HP Inc. Reports Hewlett-Packard Company Fiscal 2015 Full-Year and Fourth Quarter Results

HP Inc. Reports Hewlett-Packard Company Fiscal 2015 Full-Year and Fourth Quarter Results HP Inc. 1501 Page Mill Road Palo Alto, CA 94304 hp.com News Release HP Inc. Reports Hewlett-Packard Company Fiscal 2015 Full-Year and Fourth Quarter Results Editorial contacts HP Inc. Media Relations MediaRelations@hp.com

More information

BlackBerry Reports 2015 Fiscal First Quarter GAAP Profitability

BlackBerry Reports 2015 Fiscal First Quarter GAAP Profitability NEWS RELEASE FOR IMMEDIATE RELEASE June 19, BlackBerry Reports 2015 Fiscal First Quarter GAAP Profitability Waterloo, ON BlackBerry Limited (NASDAQ: BBRY; TSX: BB), a global leader in mobile communications,

More information

Canadian Tire Corporation 2014 Second Quarter Financial Results

Canadian Tire Corporation 2014 Second Quarter Financial Results Canadian Tire Corporation 2014 Second Quarter Financial Results August 7, 2014 Forward looking information This document contains forward-looking statements that reflect management s current expectations

More information

Q3 2014 Financial Highlights. October 15, 2014

Q3 2014 Financial Highlights. October 15, 2014 October 15, 2014 This presentation contains non-gaap measures relating to the company's performance. You can find the reconciliation of these measures to the nearest comparable GAAP measures in the appendix

More information

Investor Presentation

Investor Presentation Investor Presentation November 2015 Forward Looking Statements This presentation contains statements regarding the pending sale of our information management business to The Carlyle Group, which may be

More information

Alphabet Announces Fourth Quarter and Fiscal Year 2015 Results

Alphabet Announces Fourth Quarter and Fiscal Year 2015 Results Exhibit 99.1 Alphabet Announces Fourth Quarter and Fiscal Year 2015 Results MOUNTAIN VIEW, Calif. February 1, 2016 Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter

More information

Qualcomm and China s National Development and Reform Commission Reach Resolution. - NDRC Accepts Qualcomm s Rectification Plan -

Qualcomm and China s National Development and Reform Commission Reach Resolution. - NDRC Accepts Qualcomm s Rectification Plan - FOR IMMEDIATE RELEASE Qualcomm Contacts: Tina Asmar Corporate Communications Phone: 1-858-845-5959 email: corpcomm@qualcomm.com Warren Kneeshaw Investor Relations Phone: 1-858-658-4813 e-mail: ir@qualcomm.com

More information

NEWS RELEASE New York - AG Toronto FR May 10, 2016 Frankfurt FMV Mexico - AG. First Majestic Reports First Quarter Financial Results

NEWS RELEASE New York - AG Toronto FR May 10, 2016 Frankfurt FMV Mexico - AG. First Majestic Reports First Quarter Financial Results FIRST MAJESTIC SILVER CORP. Suite 1805 925 West Georgia Street Vancouver, B.C., Canada V6C 3L2 Telephone: (604) 688-3033 Fax: (604) 639-8873 Toll Free: 1-866-529-2807 Web site: www.firstmajestic.com; E-mail:

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

4 th Quarter 2010 Earnings Supplemental Information. March 31, 2010

4 th Quarter 2010 Earnings Supplemental Information. March 31, 2010 4 th Quarter 2010 Earnings Supplemental Information March 31, 2010 Safe Harbor Statement Investors are urged to review Rite Aid s SEC filings. Statements, estimates, targets, projections and other information

More information

INVESTOR PRESENTATION. June 8, 2015

INVESTOR PRESENTATION. June 8, 2015 INVESTOR PRESENTATION June 8, 2015 Forward Looking Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the

More information

Midwest Investment Conference

Midwest Investment Conference June 22 2016 Midwest Investment Conference Lee D. Rudow President and CEO Michael J. Tschiderer Chief Financial Officer 1 Safe Harbor Statement This presentation contains forward looking statements within

More information

Duke Energy Corporation Non-GAAP Reconciliations Second Quarter Earnings Review & Business Update August 6, 2015

Duke Energy Corporation Non-GAAP Reconciliations Second Quarter Earnings Review & Business Update August 6, 2015 Duke Energy Corporation Non-GAAP Reconciliations Second Quarter Review & Business Update August 6, 2015 Adjusted Diluted per Share (EPS) The materials for Duke Energy Corporation s (Duke Energy) Second

More information

A X A L T A C O A T I N G S Y S T E M S. Q1 2016 FINANCIAL RESULTS April 28, 2016

A X A L T A C O A T I N G S Y S T E M S. Q1 2016 FINANCIAL RESULTS April 28, 2016 A X A L T A C O A T I N G S Y S T E M S Q1 2016 FINANCIAL RESULTS April 28, 2016 Legal Notices Forward-Looking Statements This presentation and the oral remarks made in connection herewith may contain

More information

PAYCHEX, INC. REPORTS SECOND QUARTER RESULTS

PAYCHEX, INC. REPORTS SECOND QUARTER RESULTS PAYCHEX, INC. REPORTS SECOND QUARTER RESULTS December 19, 2014 SECOND QUARTER FISCAL 2015 HIGHLIGHTS Total service revenue increased 10% to $665.9 million. Payroll service revenue increased 4% to $411.2

More information

ABB Next Level Accelerating sustainable value creation

ABB Next Level Accelerating sustainable value creation Eric Elzvik, CFO, Capital Markets Day, London, ABB Next Level Accelerating sustainable value creation Slide 1 Important notices Presentations made during Capital Markets Day 2014 include forward-looking

More information

Lockheed Martin 4 th Quarter 2014 Financial Results Conference Call

Lockheed Martin 4 th Quarter 2014 Financial Results Conference Call Lockheed Martin 4 th Quarter 2014 Financial Results Conference Call January 27, 2015 11:00 a.m. EST Webcast login at www.lockheedmartin.com/investor Webcast replay & podcast available by 2:00 p.m. EST

More information

Waste Management Announces Fourth Quarter and Full Year 2007 Earnings. Increases Earnings per Diluted Share by 32.6% in Fourth Quarter of 2007

Waste Management Announces Fourth Quarter and Full Year 2007 Earnings. Increases Earnings per Diluted Share by 32.6% in Fourth Quarter of 2007 For Further Information: Waste Management, Inc. Analysts: Greg Nikkel - 713.265.1358 Media: Lynn Brown - 713.394.5093 Web site: http://www.wm.com Waste Management Announces Fourth Quarter and Full Year

More information

Carbonite Reports Record Revenue for Second Quarter of 2014

Carbonite Reports Record Revenue for Second Quarter of 2014 Carbonite Reports Record Revenue for Second Quarter of 2014 BOSTON, MA July 29, 2014 - Carbonite, Inc. (NASDAQ: CARB), a leading provider of hybrid backup and recovery solutions for businesses, today announced

More information

STANLEY BLACK & DECKER. Don Allan Senior Vice President & CFO Raymond James 36th Annual Institutional Investors Conference Monday, March 2, 2015

STANLEY BLACK & DECKER. Don Allan Senior Vice President & CFO Raymond James 36th Annual Institutional Investors Conference Monday, March 2, 2015 STANLEY BLACK & DECKER Don Allan Senior Vice President & CFO Monday, March 2, 2015 Cautionary Statements This presentation contains forward-looking statements, that is, statements that address future,

More information

Q2 2014 FINANCIAL RESULTS CONFERENCE CALL

Q2 2014 FINANCIAL RESULTS CONFERENCE CALL Q2 2014 FINANCIAL RESULTS CONFERENCE CALL TUESDAY, JULY 22, 2014 2:00 P.M. PACIFIC TIME 1 Forward Looking Statements Information, statements and projections contained in these presentation slides and related

More information

ebay Inc. Reports Second Quarter Results

ebay Inc. Reports Second Quarter Results July 16, 2014 Reports Second Quarter Results Enabled Commerce Volume Growth of 26% Revenue Growth of 13% Company Buys Back $1.7 Billion in Stock GAAP and Non-GAAP EPS Growth of 9% SAN JOSE, Calif.--(BUSINESS

More information

ENDURING VALUES. INSPIRED PERFORMANCE. Fourth Quarter FY 2016 Earnings Conference Call

ENDURING VALUES. INSPIRED PERFORMANCE. Fourth Quarter FY 2016 Earnings Conference Call ENDURING VALUES. INSPIRED PERFORMANCE. Fourth Quarter FY 2016 Earnings Conference Call May 25, 2016 Forward-Looking Statements All statements made on this call that do not directly and exclusively relate

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

Q1-2014 Financial Results Conference Call

Q1-2014 Financial Results Conference Call May XX 9th March 2014 2013 Q1-2014 Financial Results Conference Call 2 Speakers Live Dial-in Information Replay Dial-in Information Q4-2013 Conference and webcast details David Reis Erez Simha CEO CFO

More information

Vivint Wireless Internet Update. September 23, 2015

Vivint Wireless Internet Update. September 23, 2015 Vivint Wireless Internet Update September 23, 2015 preliminary statement This presentation includes forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 including

More information

4Q15 Earnings February 2016

4Q15 Earnings February 2016 4Q15 Earnings February 2016 Forward-Looking Statements The statements contained in this presentation that refer to plans and expectations for the next quarter, the full year or the future are forward-looking

More information

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts)

CORNING INCORPORATED AND SUBSIDIARY COMPANIES CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts) CONSOLIDATED STATEMENTS OF INCOME (Unaudited; in millions, except per share amounts) Three months ended Nine months ended 2013 2012 2013 2012 sales $ 2,067 $ 2,038 $ 5,863 $ 5,866 Cost of sales 1,166 1,149

More information

IBM REPORTS 2015 FOURTH-QUARTER AND FULL-YEAR RESULTS

IBM REPORTS 2015 FOURTH-QUARTER AND FULL-YEAR RESULTS IBM REPORTS 2015 FOURTH-QUARTER AND FULL-YEAR RESULTS Fourth-Quarter 2015: o Diluted EPS from continuing operations: - Operating (non-gaap): $4.84, down 17 percent; impact of 20 points from prior year

More information

ITW Conference Call Third Quarter 2013

ITW Conference Call Third Quarter 2013 ITW Conference Call Third Quarter 2013 October 22, 2013 SOLID GROWTH. STRONG RETURNS. BEST-IN-CLASS OPERATOR. Forward-Looking Statements Safe Harbor Statement This conference call contains forward-looking

More information

Global Telecom & Technology Reports Fourth Quarter and Full Year 2010 Results

Global Telecom & Technology Reports Fourth Quarter and Full Year 2010 Results Global Telecom & Technology Reports Fourth Quarter and Full Year 2010 Results MCLEAN, Va. (BUSINESS WIRE Global Telecom & Technology, Inc. ( GTT, (OTCBB: GTLT, a global telecommunications carrier and leading

More information

N E W S R E L E A S E

N E W S R E L E A S E N E W S R E L E A S E FOR IMMEDIATE RELEASE Contact: Steven E. Nielsen, President and CEO H. Andrew DeFerrari, Senior Vice President and CFO (561) 627-7171 DYCOM INDUSTRIES, INC. ANNOUNCES FISCAL 2016

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

CFO Commentary on Full Year 2015 and Fourth-Quarter Results

CFO Commentary on Full Year 2015 and Fourth-Quarter Results Intel Corporation 2200 Mission College Blvd. Santa Clara, CA 95054-1549 CFO Commentary on Full Year 2015 and Fourth-Quarter Results Summary The fourth quarter was a strong finish to the year with record

More information

IntercontinentalExchange Fourth Quarter & Year-End 2008. Earnings Presentation February 10, 2009

IntercontinentalExchange Fourth Quarter & Year-End 2008. Earnings Presentation February 10, 2009 IntercontinentalExchange Fourth Quarter & Year-End 20 Earnings Presentation February 10, 2009 Forward-Looking Statements Forward-Looking Statements This presentation may contain forward-looking statements

More information

Lockheed Martin 4 th Quarter 2013 Financial Results Conference Call

Lockheed Martin 4 th Quarter 2013 Financial Results Conference Call Lockheed Martin 4 th Quarter 2013 Financial Results Conference Call January 23, 2014 3:00 p.m. EST Webcast login at www.lockheedmartin.com/investor Webcast replay & podcast available by 8:00 p.m. EST January

More information

Waste Management Announces Second Quarter Earnings

Waste Management Announces Second Quarter Earnings FOR IMMEDIATE RELEASE Waste Management Announces Second Quarter Earnings Collection and Disposal Income from Operations Grows 3.4% HOUSTON July 26, 2012 Waste Management, Inc. (NYSE: WM) today announced

More information

MEMP 2016 Guidance. Supplemental Materials. January 27, 2016 www.memorialpp.com

MEMP 2016 Guidance. Supplemental Materials. January 27, 2016 www.memorialpp.com MEMP 2016 Guidance Supplemental Materials January 27, 2016 www.memorialpp.com Forward-Looking & Other Cautionary Statements This presentation and the oral statements made in connection therewith contain

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

CNO to Sell Closed Block Life Insurance Subsidiary to Wilton Re March 3, 2014

CNO to Sell Closed Block Life Insurance Subsidiary to Wilton Re March 3, 2014 CNO to Sell Closed Block Life Insurance Subsidiary to Wilton Re March 3, 2014 Forward-Looking Statements Certain statements made in this presentation should be considered forward-looking statements as

More information

Filed by Mitel Networks Corporation Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the

Filed by Mitel Networks Corporation Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Filed by Mitel Networks Corporation Pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934 Subject Company: Polycom, Inc.

More information

Third Quarter 2015 Earnings Conference Call. 21 August 2015

Third Quarter 2015 Earnings Conference Call. 21 August 2015 Third Quarter 2015 Earnings Conference Call 21 August 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the

More information

HILLENBRAND A GLOBAL DIVERSIFIED INDUSTRIAL COMPANY

HILLENBRAND A GLOBAL DIVERSIFIED INDUSTRIAL COMPANY HILLENBRAND A GLOBAL DIVERSIFIED INDUSTRIAL COMPANY PURSUING GROWTH BUILDING VALUE Hillenbrand Participants Joe Raver President and Chief Executive Officer Kristina Cerniglia Senior Vice President and

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

Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935

Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935 For Immediate Release Contact: Ken Bond Deborah Hellinger Oracle Investor Relations Oracle Corporate Communications 1.650.607.0349 1.212.508.7935 ken.bond@oracle.com deborah.hellinger@oracle.com ORACLE

More information

2011 Annual Stockholder Meeting October 12, 2011

2011 Annual Stockholder Meeting October 12, 2011 2011 Annual Stockholder Meeting October 12, 2011 Jeff Henley Chairman of the Board Safe Harbor Statement Statements in this presentation relating to Oracle's or its Board of Directors

More information

SAP The World s Leading Business Software Company

SAP The World s Leading Business Software Company SAP The World s Leading Business Software Company Luka Mucic, Member of the Executive Board of SAP SE, CFO and COO, SAP SE Munich, September 24, 2014 Safe Harbor Statement Any statements contained in this

More information

IBM REPORTS 2016 SECOND-QUARTER EARNINGS Continued Strong Growth in Strategic Imperatives Led by IBM Cloud

IBM REPORTS 2016 SECOND-QUARTER EARNINGS Continued Strong Growth in Strategic Imperatives Led by IBM Cloud IBM REPORTS 2016 SECOND-QUARTER EARNINGS Continued Strong Growth in Strategic Imperatives Led by IBM Cloud Highlights Diluted EPS: GAAP of $2.61; Operating (non-gaap) of $2.95 Revenue from continuing operations

More information

Citrix Revises Outlook Due to Accelerated Share Repurchase Program

Citrix Revises Outlook Due to Accelerated Share Repurchase Program FOR IMMEDIATE RELEASE For media inquiries, contact: Eric Armstrong, Citrix Systems, Inc. (954) 267-2977 or eric.armstrong@citrix.com For investor inquiries, contact: Eduardo Fleites, Citrix Systems, Inc.

More information

Silicon Motion Announces Results for the Period Ended December 31, 2015

Silicon Motion Announces Results for the Period Ended December 31, 2015 Silicon Motion Announces Results for the Period Ended December 31, 2015 NEWS RELEASE Financial Highlights Net sales increased 3% quarter-over-quarter to US$98.0 million from US$95.4 million in 3Q15 Gross

More information

Salesforce Announces Fiscal 2016 First Quarter Results Becomes First Enterprise Cloud Computing Company to Reach $6 Billion Revenue Run Rate

Salesforce Announces Fiscal 2016 First Quarter Results Becomes First Enterprise Cloud Computing Company to Reach $6 Billion Revenue Run Rate John Cummings Salesforce Investor Relations 415-778-4188 jcummings@salesforce.com Chi Hea Cho Salesforce Public Relations 415-281-5304 chcho@salesforce.com Salesforce Announces Fiscal 2016 First Quarter

More information

PAYCHEX, INC. REPORTS FOURTH QUARTER AND FISCAL 2015 RESULTS

PAYCHEX, INC. REPORTS FOURTH QUARTER AND FISCAL 2015 RESULTS PAYCHEX, INC. REPORTS FOURTH QUARTER AND FISCAL 2015 RESULTS July 1, 2015 FOURTH QUARTER AND FULL YEAR FISCAL 2015 HIGHLIGHTS Total service revenue increased 8% to $681.4 million for the fourth quarter;

More information

CONE Midstream Partners LP. 1Q 2016 Earnings May 5, 2016

CONE Midstream Partners LP. 1Q 2016 Earnings May 5, 2016 CONE Midstream Partners LP 1Q 2016 Earnings May 5, 2016 Disclaimer Forward Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. Statements

More information

Walmart reports Q2 FY 16 EPS of $1.08, updates guidance Walmart U.S. delivered 1.5% comps, and improved customer experience scores

Walmart reports Q2 FY 16 EPS of $1.08, updates guidance Walmart U.S. delivered 1.5% comps, and improved customer experience scores Walmart reports Q2 FY 6 EPS of.08, updates guidance Walmart U.S. delivered.5% comps, and improved customer experience scores Q2 diluted EPS from continuing operations was.08. Currency exchange rates negatively

More information

First Quarter 2015 Earnings Conference Call. 20 February 2015

First Quarter 2015 Earnings Conference Call. 20 February 2015 First Quarter 2015 Earnings Conference Call 20 February 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning

More information

ADP REPORTS FOURTH QUARTER AND FISCAL 2011 RESULTS; PROVIDES FISCAL 2012 GUIDANCE

ADP REPORTS FOURTH QUARTER AND FISCAL 2011 RESULTS; PROVIDES FISCAL 2012 GUIDANCE FOR IMMEDIATE RELEASE ADP REPORTS FOURTH QUARTER AND FISCAL 2011 RESULTS; PROVIDES FISCAL 2012 GUIDANCE For the Year, Revenues Rise 11%, 6% Organic; EPS from Continuing Operations up 6% (excluding certain

More information

Discover Financial Services Planned Acquisition of The Student Loan Corporation. September 20, 2010

Discover Financial Services Planned Acquisition of The Student Loan Corporation. September 20, 2010 Discover Financial Services Planned Acquisition of The Student Loan Corporation September 20, 2010 Notice The following slides are part of a presentation by Discover Financial Services (the "Company")

More information