Sightseeing News

The Habit Restaurants, Inc. to Announce Fourth Quarter and Full Year 2018 Financial Results on February 28, 2019
IRVINE, Calif., Feb. 15, 2019 (GLOBE NEWSWIRE) -- The Habit Restaurants, Inc. (Nasdaq:HABT) (“The Habit”), today announced that it plans to release its fourth quarter and full year 2018 financial results for the period ended December 25, 2018 on February 28, 2019 shortly after the market closes.
Posted on February 15, 2019, 9:05 pm
Holiday Inn® Charlotte Center City Presents 2019 Winter Wedding Show
CHARLOTTE, N.C., Feb. 15, 2019 (GLOBE NEWSWIRE) -- Recently engaged couples and guests are invited to experience what makes the Holiday Inn® Charlotte Center City such a unique wedding venue on Thursday, February 21, 2019 from 5:30 to 7:30 PM. The hotel will host “Let Love Soar!”, a Winter Wedding Show, where attendees can spend the evening touring the Holiday Inn® Charlotte Center City Hotel’s Rooftop Siena and elegant ballrooms, sampling hors d’oeuvres, refreshments and wedding cake, meet our Preferred Partners and more.
Posted on February 15, 2019, 8:00 pm
Connecticut’s Largest Fishing & Hunting Show Coming March 29-31 To Connecticut Convention Center
HARTFORD, Conn., Feb. 15, 2019 (GLOBE NEWSWIRE) -- The “22nd Northeast Fishing & Hunting Show” is coming Friday, March 29 through Sunday, March 31, 2019 to the Connecticut Convention Center, 100 Columbus Blvd. in Hartford. Connecticut’s largest fishing and hunting show is for the entire family and for longtime enthusiasts as well as anyone who wants to learn more about outdoor adventure.
Posted on February 15, 2019, 2:52 pm
“Novaturas” will hold an Investor Conference Webinar to introduce the unaudited financial results for the fourth quarter of 2018 and the year 2018
AB “Novaturas” invites shareholders, investors, analysts and other stakeholders to join its investor conference webinar scheduled on the February 20, 2019 at 9.30 am (EET). The presentation will be held in English.
Posted on February 15, 2019, 7:11 am
“Novaturas“ turnover in January 2019
In January 2019 “Novaturas” turnover was EUR 9.3 million and was 26% higher compared to January 2018.
Posted on February 15, 2019, 7:01 am
Next Games Corp.: Financial Statements Bulletin January-December 2018
Next Games Corporation Company Release 15 February 08:00 EET
Posted on February 15, 2019, 6:00 am
Next Games: Conclusion of Consultation Proceedings According to the Company’s Cost Review Program
Next Games Corporation Company Release February 15, 2019 at 08:00 a.m. (EET)Next Games has concluded the consultation proceedings concerning the company’s staff as announced on 10 January 2019 as part of the company’s program to to review the cost structure of the company’s operations and streamline its operational model.As a result of the consultation proceedings, which commenced on 17 January 2019, the company is now implementing a new organizational structure with the aim of decreasing time-to market for its upcoming products, increasing performance as well as improving its product development process. As a result of the measures taken as part of the program, the company scales down the number of staff from 143 at the end of year 2018, to 117 employees during the first half of 2019. While some positions will cease to exist in the organization as part of the change, the company is also looking to hire key talent for certain specific positions during the first half of 2019. The company continues to execute the cost review program, which is expected to generate significant cost savings during the full year 2019 compared to 2018. Through the continued implementation of the program during 2019, the company estimates annual cost savings in the range of 4-8 million euros during the full year 2019.Next Games CEO Teemu Huuhtanen: “By ending the consultation proceedings with our personnel, we are moving to the implementation phase of our new operational model. The company is extremely grateful to have a very committed and highly-skilled staff. We will together continue our transformation into an even more agile and resilient team and execute on our mission to create long-lasting mobile entertainment.“
Posted on February 15, 2019, 6:00 am
Next Games: Changes in Management Team
Next Games Corporation Company Release February 15, 2019 at 08:00 a.m. (EET)Emmi Kuusikko, the company’s Chief Product Officer and member of Next Games Management Team, is stepping down from her role to pursue new challenges. As of 15 February, 2019 the Management Team consists of Teemu Huuhtanen (CEO), Annina Salvén (CFO), Saara Bergström (CMO), Kalle Hiitola (CTO) and Joonas Viitala (COO). The members of the Management Team report to the CEO, Teemu Huuhtanen.Next Games CEO Teemu Huuhtanen: “I’m grateful to Emmi Kuusikko, our Chief Product Officer, for her contribution to the company, as she is heading to new challenges. Emmi has had an important role in scaling up our product pipeline and developing our ways of working in the games organization.”Next Games CPO Emmi Kuusikko: "I am grateful for the past 1,5 years with Next Games. It’s a privilege to have had the opportunity to work with some of the world’s biggest entertainment brands translating them into mobile games. The Next Games team is talented and passionate, and I will cherish the experience while it’s time for me to move on. I want to thank the Next Games Management team and Board of Directors, and especially the game teams for the amazing journey. I am confident the company is on a good path to build great games for players to enjoy for years to come."Additional information:Saara BergströmCMOinvestors@nextgames.com+358 (0)50 483 3896Certified Adviser: Danske Bank A/S, Finland branch, tel. +358 10 546 7938About Next Games
Posted on February 15, 2019, 6:00 am
Jefferson Lines Moves to MATBUS Location in Fargo
MINNEAPOLIS, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Jefferson Lines is moving its local depot to the MATBUS Station located at 502 Northern Pacific (NP) Avenue, Fargo, ND starting February 19, 2019. The new centralized location provides a convenient and accessible interface with Fargo-Moorhead’s MATBUS system, allowing passengers, including university students, to conveniently connect with Jefferson’s many routes. Julia Bommelman, Fargo Transit Director, states, “MATBUS is excited to provide passengers expanded travel opportunities by creating a partnership with Jefferson Lines. Effective February 19, 2019, Jefferson Lines will begin operations from the Ground Transportation Center (GTC), allowing MATBUS passengers, area residents and visitors the opportunity to travel outside the Fargo-Moorhead area to destinations served by Jefferson Lines. MATBUS is looking forward to broadening travel choices for everyone.” "Our growing partnership with the Fargo-Moorhead community and local transit has allowed Jefferson to establish a centralized location to which we can serve our passengers more effectively,” shares Steve Woelfel, President and CEO of Jefferson Lines. “We look forward to working with MATBUS to create a welcoming and accommodating space for all our passengers and community alike.” The new joint depot location is full service including ticket sales, passenger pick up/drop off and package express. In addition, the Ground Transportation Center is scheduled to be renovated this year and will include updated amenities for its customers. About Jefferson Lines: With over 100 years of experience, Jefferson Lines is one of the largest and most established motor coach operators in the country, being founded in 1919. Jefferson provides cross‐state transportation throughout America’s Heartland, serving over 3,000 locations across the United States, Canada, and Mexico. Our area of service expands over 14 states from Wisconsin to Washington and Minnesota to Oklahoma. CONTACT INFORMATIONMedia Contact:Kevin Pursey612-359-3420kpursey@jeffersonlines.com
Posted on February 14, 2019, 11:29 pm
Churchill Downs Incorporated 2018 Fourth Quarter and Full Year Financial Results Conference Call Invitation
LOUISVILLE, Ky., Feb. 14, 2019 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (“CDI” or “the Company”) announced today that the Company will release fourth quarter and full year 2018 financial results after the market closes on Wednesday, February 27, 2019, and host a related conference call to discuss the quarter on Thursday, February 28, 2019, at 9 a.m. ET. Investors and other interested parties may listen to the teleconference by accessing the online, real-time webcast of the call at http://ir.churchilldownsincorporated.com/events.cfm or by calling (877) 372-0878 and entering the conference ID number 3994597 at least 10 minutes before the appointed time. International callers should dial (253) 237-1169. An online replay of the call will be available at http://ir.churchilldownsincorporated.com/events.cfm by noon ET on Thursday, February 28, 2019. A copy of CDI’s news release announcing quarterly results and relevant financial and statistical information about the period will be accessible at www.churchilldownsincorporated.com. About Churchill Downs Incorporated  Churchill Downs Incorporated ("CDI") (Nasdaq: CHDN), headquartered in Louisville, Ky., is an industry leading racing, gaming and online entertainment company anchored by our iconic flagship event – The Kentucky Derby. We are the largest legal online account wagering platform for horseracing in the U.S., through our ownership of TwinSpires.com. We are also a leader in brick-and-mortar casino gaming with approximately 9,500 gaming positions in seven states. We have launched our BetAmerica Sportsbook at our two Mississippi casino properties and have announced plans to enter additional U.S. online real-money sports betting and gaming markets. Derby City Gaming, the first historical racing machine (“HRM”) facility in Louisville, was opened in September 2018 with 900 HRM machines. Additional information about CDI can be found online at www.churchilldownsincorporated.com. Contact:  Nick Zangari(502) 394-1157Nick.Zangari@kyderby.com  
Posted on February 14, 2019, 9:30 pm
Del Frisco’s Restaurant Group, Inc. to Announce Fourth Quarter and Fiscal Year 2018 Results on March 12, 2019
IRVING, Texas, Feb. 14, 2019 (GLOBE NEWSWIRE) -- Del Frisco’s Restaurant Group, Inc. (“Del Frisco’s” or the “Company”) (NASDAQ: DFRG) today announced that it will host a conference call to discuss financial results for its fourth quarter and fiscal year ended December 25, 2018 on Tuesday, March 12, 2019 at 7:30 AM Central Time. A press release with fourth quarter and fiscal year 2018 financial results will be issued prior to the conference call that same day. The conference call can be accessed live over the phone by dialing 323-794-2423. A replay will be available afterwards and can be accessed by dialing 412-317-6671; the passcode is 1070307. The replay will be available until Tuesday, March 19, 2019. The conference call will also be webcast live from our corporate website at www.DFRG.com under the investor relations section. An archive of the webcast will also be available through the corporate website shortly after the conference call has concluded. About Del Frisco’s Restaurant Group, Inc.Based in Irving, Texas, Del Frisco's Restaurant Group, Inc. is a collection of 73 restaurants across 16 states and Washington, D.C., including Del Frisco's Double Eagle Steakhouse, Del Frisco's Grille, Barcelona Wine Bar, and bartaco. Del Frisco's Double Eagle Steakhouse serves flawless cuisine that's bold and delicious, and offers an extensive award-winning wine list and level of service that reminds guests that they're the boss. Del Frisco's Grille is modern, inviting, stylish, and fun, taking the classic bar and grill to new heights, and drawing inspiration from bold flavors and market-fresh ingredients. Barcelona serves tapas, both simple and elegant, using the best seasonal picks from local markets and unusual specialties from Spain and the Mediterranean, and offers an extensive selection of wines from Spain and South America featuring over 40 wines by the glass. bartaco combines fresh, upscale street food and award-winning cocktails made with artisanal spirits and freshly-squeezed juices with a coastal vibe in a relaxed environment. For further information about our restaurants, to make reservations, or to purchase gift cards, please visit: www.DelFriscos.com, www.DelFriscosGrille.com, www.BarcelonaWineBar.com, and www.bartaco.com. For more information about Del Frisco's Restaurant Group, Inc., please visit www.DFRG.com. Investor Relations Contact:Raphael Gross203-682-8253investorrelations@dfrg.com Media Relations Contact:Alecia Pulman203-682-8200DFRGPR@icrinc.com 
Posted on February 14, 2019, 9:15 pm
CAMP CORRAL APPOINTS THREE NEW MEMBERS TO BOARD OF DIRECTORS
Golden Corral President and CEO Lance Trenary appointed chairmanRaleigh, N.C., Feb. 14, 2019 (GLOBE NEWSWIRE) -- Camp Corral, a free summer camp for children of wounded, injured, ill and fallen military service members, announced today that three new members will be joining the board of directors: Tony Jeffreys, Adam Daland and Mary Beth Ormiston. Current board member Lance Trenary has been elected chairman. “We are thrilled to welcome these new members to our board and look forward to incorporating their unique expertise,” said Leigh Longino, CEO of Camp Corral. “Their experience ranges from financial and fundraising to camp management, and I am confident that these new additions to the team will propel us forward as an organization and allow us to change the lives of even more military children.” Tony Jeffreys has over 25 years of Fortune 500 and nonprofit experience. He’s earned a reputation as a strong leader with expertise and skills in team building, motivational training, managing/directing, fundraising and mentoring. Jeffreys holds a Bachelor of Science from Springfield College and earned his Master of Business Administration and Master of Health Administration from Pfeiffer University. Adam Daland is a vice president of Investors Management Company (IMC), where he focuses on company and financial analysis. He has served as a volunteer on the Camp Corral Finance Committee for the past two years. Daland earned his undergraduate degree in linguistics from the University of North Carolina at Chapel Hill (UNC). He also holds a master’s in accounting from the UNC Kenan-Flagler Business School. Mary Beth Ormiston is currently the owner of MBO Consulting LLC where she provides enterprise risk management consulting services for youth-serving and family organizations. She has over 35 years of experience in summer camp management, including risk management for YMCA’s, Boys and Girls Clubs, Jewish Community Centers and camps. Ormiston graduated from the University of Northern Iowa where she majored in Speech Communications. Lance Trenary is President and CEO of Golden Corral Corporation, which he joined more than 30 years ago. He currently serves on the Founder’s Circle of Project Healing Waters, an organization dedicated to the physical and emotional rehabilitation of wounded or disabled military service personnel. He also holds several leadership roles on industry boards and executive committees. Trenary attended the executive management program at Harvard University and the University of North Carolina at Chapel Hill’s Kenan-Flagler Business School. Camp Corral’s board of directors helps support the organization’s vision, mission and fund-raising goals. For more information about Camp Corral, visit www.campcorral.org. About Camp Corral Camp Corral, a 501(c)(3) tax-exempt, nonprofit corporation, is a free, one-of-a-kind summer camp for children of wounded, injured, ill wounded and fallen military service members. Since its founding in 2011 by Golden Corral, Camp Corral has grown to 21 camp sessions in 17 states and has served more than 21,000 children. Although any child ages 8 to 15 from a military family is eligible, registration priority is given to children of wounded, disabled or fallen military service members. For more information, visit www.campcorral.org. ### CONTACT: Brianna LaRouche 336-553-1706 blarouche@rlfcommunications.com
Posted on February 14, 2019, 6:34 pm
More Nonstops from Austin! Spirit Airlines Begins Flying from Texas’ Capital City, Adds Another Nonstop Route
MIRAMAR, Fla., Feb. 14, 2019 (GLOBE NEWSWIRE) -- Spirit Airlines is celebrating its inaugural service from Austin with the announcement of yet another daily nonstop route, this time to Atlanta!  The announcement comes on the same day the airline begins nonstop daily service from Austin-Bergstrom International Airport (AUS) to eight cities across the United States.  Spirit now offers nonstop flights from Austin to Baltimore/Washington, Chicago, Denver, Detroit, Fort Lauderdale, Las Vegas, New Orleans and Orlando.  In just a few short months, on May 2, Spirit will begin nonstop service between Austin and Los Angeles.   Then on May 23, Spirit will roll out nonstop flights to Atlanta, eventually providing Austin nonstop flights to 10 major metropolitan areas and connections throughout the airline’s growing domestic and international network.  The airline celebrated its first flights from Austin with a special donation to a local non-profit organization serving Austin-area children.  The Spirit Airlines Charitable Foundation provided Kids in a New Groove with a $10,000 donation to further its mission of providing foster children with musical mentorships and tutoring.  The donation is a part of Spirit Airlines’ initiative to give back in the communities it serves. “We are excited to launch our inaugural service from Austin and give back to a worthy organization like Kids in a New Groove,” said John Kirby, Spirit Airlines’ Vice President of Network Planning. “Texas’ capital city is booming, and Spirit Airlines is thrilled to announce Atlanta as our tenth non-stop destination from the live music capital of the world.  We are confident our new Guests in Central Texas will recognize that Spirit provides the best value in the sky with low fares, an on-time operation, and signature service.” “Central Texas travelers will benefit from Spirit Airlines’ distinctive service,” said Jim Smith, Executive Director of Austin-Bergstrom International Airport. “This expands our travel options and we welcome Spirit to the airport.” Austin (AUS) to/from:Starts:Frequency:Baltimore, MD/Washington, DC (BWI)February 14, 2019DailyChicago, IL (ORD)February 14, 2019DailyDenver, CO (DEN)February 14, 2019DailyDetroit, MI (DTW)February 14, 2019DailyFort Lauderdale, FL (FLL)February 14, 2019DailyLas Vegas, NV (LAS)February 14, 2019DailyOrlando, FL (MCO)February 14, 2019DailyNew Orleans, LA (MSY)February 14, 2019DailyLos Angeles, CA (LAX)May 2, 2019DailyAtlanta, GA (ATL)May 23, 2019Daily Spirit Airlines was recently named 2018 Value Airline of the Year by Air Transport World.  The airline is making good on its promise to offer the best value in the sky by maintaining one of the most on-time operations in the United States and adding high-speed Wi-Fi to its entire fleet.  In addition to Austin, Spirit recently announced they would be serving Raleigh-Durham, Indianapolis, and Charlotte as well as expanding service in Jamaica and Puerto Rico.  Austin joins Houston and Dallas as the third destination for Spirit in the Lone Star State.  About Spirit Airlines:  Spirit Airlines (NYSE: SAVE) is committed to delivering the best value in the sky. We are the leader in providing customizable travel options starting with an unbundled fare. This allows every Guest to pay only for the options they choose — like bags, seat assignments and refreshments — something we call À La Smarte. We make it possible for our Guests to venture further and discover more than ever before. Our Fit Fleet® is one of the youngest and most fuel-efficient in the U.S. We operate more than 600 daily flights to 73 destinations in the U.S., Latin America and the Caribbean, and are dedicated to giving back and improving the communities we serve. Come save with us at spirit.com. At Spirit Airlines, we go. We go for you. CONTACT: Contact: Derek Dombrowski (305) 916-6065 derek.dombrowski@spirit.com
Posted on February 14, 2019, 3:30 pm
Date of Transaction 14 February 2019
Viðskipti fruminnherja/Transaction of primary insider Auðkenni útgefanda/Trade ticker:ICEAIR Nafn útgefanda/Issuer:Icelandair Group                                                                                                                                                                                                                                                                                                                Dagsetning tilkynningar/Date of announcement:14.02.2019 Nafn fruminnherja/Name primary insider:Ásthildur Otharsdottir                                                                                                                                 Tengsl fruminnherja við útgefanda/Insider's relation with the issuer:Stjórnarmaður                                                                                                                                             Dagsetning viðskipta/Date of transaction:14.02.2019 Tímasetning viðskipta/Time of transaction:12:05 Tegund fjármálagernings/Type of financial instrument:Hlutabréf                                                                                                                                                      Kaup eða sala/Buy or Sell:Kaup                                                                                                                                                              Fjöldi hluta/Number of shares:625.000 Verð pr. Hlut/Price per share:8,01 Fjöldi hluta í eigu fruminnherja eftir viðskipti/Primary insider's holdings after the transaction:625.000 Fjöldi hluta sem fruminnherji á kauprétt að/Primary insider's option holdings after the transaction: Fjöldi hluta fjárhagslega tengdra aðila eftir viðskipti/Related parties' holdings after the transaction: Dagsetning lokauppgjörs*/Date of settlement*: Athugasemdir*/Comments*: Attachment AsthildurOtharsdottir
Posted on February 14, 2019, 12:50 pm
Annual General Meeting 08 March 2019
ICELANDAIR GROUP HF. – ANNUAL GENERAL MEETING 08 MARCH 2019Hilton Reykjavik Nordica at 4.00 pm Draft Agenda   The Board of Director’s report on the Company’s operations in the past year shall be presentedConfirmation of annual accounts and decision on the handling of profit or loss of the financial yearDecision on payments to board membersProposals of the Board of Directors regarding the remuneration policyElection of the Board of DirectorsElection of auditorProposed changes to the Articles of Association Proposal to reduce share capital- cancellation of own shares which causes changes in Art.2 in the Company’s Articles of Association. Proposal to establish a nomination committee where the shareholders meeting elects two members and the Board of Directors nominates one member. Election of two members of the Nomination committeeAuthorization to purchase treasury sharesAny other lawfully submitted business Proposals   Annual Accounts (Item 2) The Board of Directors proposes to the Annual General Meeting that the Annual Accounts of the Company for 2019 will be approved. Dividends payments (Item 2) The Board of Directors proposes to the Annual General Meeting that no dividends will be paid for 2018 financial year. Remuneration to Board Members (Item 3) The Board of Directors proposes to the Annual General Meeting that remuneration to Board Members and Sub-Committee Members shall be the same as they were last year: Each Board Member will receive ISK 330,000 per month, the Chairman will receive ISK 660,000 per month, the Deputy Chairman will receive ISK 495,000 per month, Sub-Committee Members will receive ISK 120,000, the Chairman of the Audit Committee will receive ISK 275,000 per month and the Chairman of the Compensation Committee will receive ISK 150,000 per month.  The Board of Directors will decide on compensation for the members nominated by shareholders in the nomination committee.  Compensation will be paid on hourly basis.   Remuneration Policy (Item 4) The Board of Directors proposes to the Annual General Meeting that the following sentence will be added to Article 6 of the Remuneration Policy “The Bonus cannot be higher than 25% of the employee’s annual salary” In addition the word “Annual General Meeting” in Paragraph 3 in Article 7 will be changed to “Shareholders’ Meeting”.  Otherwise the Remuneration Policy will be unaltered. Auditors (Item 6) The Board of Directors proposes to the Annual General Meeting that KPMG hf. will be the Company’s auditors. Proposed changes to the Articles of Association (Item 7) The Board of Directors proposes to the Annual General Meeting that the following changes will be made immediately to the Articles of Association of the Company: Proposal to reduce share capital due to the purchase of own shares according to buy-back programme Proposal to reduce share capital by ISK 187,339,347 (item 7a.) of nominal value and that own shares in the same amount will be cancelled.  If the proposal is accepted the Art.2 of the Company’s Articles of Association changes and the total number of shares in the Company wil be reduced from ISK 5,000,000,000 of nominal value to ISK 4,812,660,653.  Proposal to establish a nomination committee (item 7b.) where the shareholders meeting elects two members and the Board of Directors nominates one member: The two following articles will be added to the Articles of Association: “4.28 Nomination Committee The Company shall operate a nomination committee which has the role to be advisory in the selection of members of the Board of Directors and it will bring its proposals for the AGM or other Shareholders’ meetings where election to the Board of Directors is on the agenda. The nomination committee shall put forward its rationalised opinion concurrently to the notification of the AGM or as soon as possible in conjunction with other shareholder meetings.  The committee’s opinion shall be made available to shareholders in the same way as other proposals to be submitted to the meeting.  The committee operates according to rules of procedures which are set by the committee itself and approved by the Board of Directors.  The nomination committee shall make changes to its rules of procedures accordingly or put them forward unaltered and have approved by the Board of Directors annually. 4.29 Appointment of the Nomination Committee The nomination committee shall consist of three members.  The Shareholders’ meeting shall elect two members, one man and one woman, which are nominated by shareholders.  When the Shareholders’ Meeting has elected members, the Board of Directors will nominate one member to the committee. All members shall be independent of the Company and its executives.  The member nominated by the  Board of Directors shall be independent of the Company’s’ largest shareholders.  The same criteria shall apply to the assessment of independence of Committee members as to the assessment of the independence of Board Members according to The Guidelines on Corporate Governance issued by the Iceland Chamber of Commerce, SA Business Iceland and Nasdaq Iceland.” Purchase of treasury shares (Item 9) The Board of Directors of Icelandair Group proposes to the Annual General Meeting that the Company will be authorized to purchase in the next 18 months up to 10% of its own shares in accordance with Article 55 of the Icelandic Companies Act No 2/1995 in order to establish a market making agreement for issued shares in the Company or to set up a formal buy-back programme. It is not allowed to purchase such shares at a higher rate than the last spot market rate or the highest bid in the trading system of a regulated market where the shares are traded.  Such purchases are however authorized if they are executed by a market maker in accordance with Article 116 of the Act on Securities Trading or in accordance with Item 1, Paragraph 3, Article 115, and Paragraph 2, Article 119 of the Act on Securites Transactions and regulations implemented on the basis of Articles 118 and 131 of the same Act. All of the current members of the Board of Directors, except for Asthildur Otharsdottir, intend to seek renewed mandate as board members from shareholders at the meeting.   For further information:  Ari Guðjónsson, General CouncilEmail: ari@icelandairgroup.is or Tel: 354-66-2188 Attachment Remuneration Policy 2019
Posted on February 14, 2019, 12:07 pm
Viking Line's Year-End Report January - December 2018
Viking Line Abp       FINANCIAL STATEMENT RELEASE          14.2.2019, 9.00 AM VIKING LINE’S YEAR-END REPORT JANUARY – DECEMBER 2018 Consolidated sales of the Viking Line Group during the financial year January 1–December 31, 2018 were 497.8 million euros (EUR 513.6 M for January 1–December 31, 2017). Other operating revenue amounted to EUR 0.3 M (1.7). Operating income totalled EUR 9.3 M (10.0). Net financial items totalled EUR -2.8 M (-3.4). Consolidated income before taxes amounted to EUR 6.5 M (6.6). Income after taxes totalled EUR 5.5 M (5.3). Competition in Viking Line's service area entails continued pressure on prices and volumes, which will have an adverse effect on net sales revenue per passenger. Income during the third quarter will be crucial to the Group’s earnings for the full financial year. The currency trend for the Swedish krona affects the Group’s results. Fixed-price agreements related to a portion of the Group’s bunker consumption for 2019 mitigate the risk of higher bunker costs. The Board of Directors' assessment is that operating income for 2019 will remain on a par with operating income for 2018 or improve. At this stage, however, this forecast is subject to the uncertainty factors mentioned above. SALES AND EARNINGS FULL CALENDAR YEARConsolidated sales of the Viking Line Group during the financial year January 1–December 31, 2018 were 497.8 million euros (EUR 513.6 M for January 1–December 31, 2017). Other operating revenue amounted to EUR 0.3 M (1.7). Operating income totalled EUR 9.3 M (10.0). Net financial items totalled EUR -2.8 M (-3.4). Consolidated income before taxes amounted to EUR 6.5 M (6.6). Income after taxes totalled EUR 5.5 M (5.3). During the report period, passenger-related revenue was EUR 450.3 M (467.5), while cargo revenue amounted to EUR 45.3 M (43.8). Net sales revenue was EUR 362.0 M (372.6). Due to lower operating expenses compared to the previous year, consolidated income for 2018 improved somewhat despite lower sales. Consolidated operating expenses decreased by 2.9 per cent to EUR 329.2 M (339.1). Bunker expenses increased by 8.6 per cent to EUR 50.8 M (46.7). The weak Swedish krona had a negative impact on consolidated income. The placing in service of the vessel Viking FSTR, which operated on the Helsinki–Tallinn route during the period April 10–October 16, 2017, increased consolidated sales and capacity during 2017 but did not contribute materially to income. FOURTH QUARTERDuring the fourth quarter, October 1–December 31, 2018, consolidated sales was EUR 119.8 M (EUR 121.5 M for October 1–December 31, 2017). Fourth quarter operating income amounted to EUR 1.6 M (3.7). SERVICES AND MARKET TRENDS The Viking Line Group provides passenger and cargo carrier services using seven vessels on the northern Baltic Sea. The Group’s vessels served the same routes as in 2017. During the period April 10–October 16, 2017, capacity on the Helsinki–Tallinn route increased with the leased vessel Viking FSTR. Viking FSTR was not in service during 2018. The number of passengers on Viking Line’s vessels during the report period was 6,411,537 (6,881,149). The Group had a total market share in its service area of approximately 32.4 per cent (34.5). Viking Line’s cargo volume was 128,549 cargo units (127,668). Viking Line achieved a cargo market share of approximately 17.8 per cent (18.7). The number of cars transported was 704,799 (762,253). INVESTMENTS AND FINANCING The Group’s investments amounted to EUR 15.9 M (34.7), of which EUR 4.3 M was related to capitalized costs for vessel under construction. The Group’s total investments represent 3.2 per cent of sales (6.8). On December 31, 2018, the Group’s non-current interest-bearing liabilities amounted to EUR 103.5 M (127.0). The equity/assets ratio was 49.4 per cent, compared to 46.2 per cent a year earlier. At the end of December 2018, the Group’s cash and cash equivalents amounted to EUR 61.8 M (68.0). Unutilized credit lines in the Group totalled EUR 15.1 M on December 31, 2018 (EUR 0.1 M). Net cash flow from operating activities amounted to EUR 33.0 M (31.8). Net cash flow from investing activities was EUR -13.5 M (-30.8) and net cash flow from financing activities amounted to EUR -25.7 M (-27.9). RISK FACTORS Fluctuations in bunker (vessel fuel) prices have a direct impact on the Group’s earnings. In order to offset the risk of higher bunker prices, the Group has entered into fixed-price agreements related to a portion of its bunker consumption during 2017, 2018 and 2019. The Group is also exposed to various financial risks, among them fluctuations in currency exchange rates. Revenue is generated in euros and Swedish kronor. Most operational influx of cash and cash equivalents consists of euros. Purchase prices of goods for sale and bunker are affected by other currencies, especially the US dollar. The Group endeavours to maintain good liquidity in order to be prepared to deal with adverse changes in operational cash flow. SUSTAINABILITY REPORT The Sustainability Report for 2018 is published as part of Viking Line’s Annual Report. Information about Viking Line’s sustainability work is also available on Vikingline.com. ORGANIZATION AND PERSONNEL The average number of Group employees was 2,671 (2,746), of whom 2,005 (2,048) worked for the parent company. Shipboard personnel totalled 2,037 (2,086) and land-based personnel totalled 634 (660). In addition to the Group’s own employees, the Viking XPRS was crewed by an average of 242 (248) people employed by a staffing company. At the end of 2018, the total number of Group employees was 2,874 (2,889), of which 2,299 (2,238) resided in Finland. The number residing in Sweden was 453 (527). There were 111 (116) employees residing in Estonia and 11 (8) in other countries. CORPORATE GOVERNANCE STATEMENT Viking Line applies the Finnish Corporate Governance Code, which was approved by the Securities Market Association. The Code entered into force on January 1, 2016, and is available on the Securities Market Association’s website, Cgfinland.fi. Viking Line complies with the Code in full. The Corporate Governance Statement for 2018 is published as part of Viking Line’s Annual Report. Information about Viking Line’s corporate governance is available on Vikingline.com. EVENTS AFTER THE BALANCE SHEET DATE The Board of Directors of the Company is not aware of any major events after the balance sheet date that might influence the financial statements. OUTLOOK FOR 2019 Competition in Viking Line's service area entails continued pressure on prices and volumes, which will have an adverse effect on net sales revenue per passenger. Income during the third quarter will be crucial to the Group’s earnings for the full financial year. The currency trend for the Swedish krona affects the Group’s results. Fixed-price agreements related to a portion of the Group’s bunker consumption for 2019 mitigate the risk of higher bunker costs. The Board of Directors' assessment is that operating income for 2019 will remain on a par with operating income for 2018 or improve. At this stage, however, this forecast is subject to the uncertainty factors mentioned above. THE BOARD’S PROPOSAL ON DISTRIBUTION OF EARNINGS According to the balance sheet of Viking Line Abp on December 31, 2018, unrestricted equity totalled EUR 76,137,466.51. The Board of Directors proposes to the Annual General Meeting that: A dividend of EUR 0.20 per share be paid, totalling       EUR  2,160,000.00Remaining unrestricted equity                                      EUR  73,977,466.51 No material changes in the Company’s financial position have occurred after the end of the financial year. In the assessment of the Board of Directors, the dividend is justifiable in light of the demands with respect to the size of the equity capital which are imposed by the nature, scope, financing and risks associated with the business. CONSOLIDATED INCOME STATEMENT    Oct 1, 2018–Oct 1, 2017–Jan 1, 2018–Jan 1, 2017–EUR MDec 31, 2018Dec 31, 2017Dec 31, 2018Dec 31, 2017     SALES119.8121.5497.8513.6     Other operating revenue0.10.40.31.7     Expenses    Goods and services33.233.6135.8140.9Salary and other employment benefit expenses28.529.5117.3120.6Depreciation, amortization and impairment losses5.96.023.825.2Other operating expenses50.649.0211.8218.5 118.2118.1488.8505.2     OPERATING INCOME1.63.79.310.0     Financial income0.10.02.42.2Financial expenses-0.8-1.8-5.2-5.6     INCOME BEFORE TAXES0.91.96.56.6     Income taxes-0.2-0.5-1.0-1.3     INCOME FOR THE PERIOD0.71.55.55.3          Income attributable to:    Parent company shareholders0.71.55.55.3     Earnings per share before and after dilution, EUR0.060.140.510.49     CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME  Oct 1, 2018–Oct 1, 2017–Jan 1, 2018–Jan 1, 2017–EUR MDec 31, 2018Dec 31, 2017Dec 31, 2018Dec 31, 2017     INCOME FOR THE PERIOD0.71.55.55.3     Items that may be reclassified to the income statement      Translation differences0.2-0.5-0.8-0.6Changes in the fair value of investments available for sale-0.7-0.7     Items that will not be reclassified to the income statement    Changes in the fair value of financial assets recognized at   fair value through other comprehensive income4.1-4.1-     Other comprehensive income4.20.33.30.1     COMPREHENSIVE INCOME FOR THE PERIOD4.91.88.85.4          Comprehensive income attributable to:    Parent company shareholders4.91.88.85.4     CONSOLIDATED BALANCE SHEET        EUR M  Dec 31, 2018Dec 31, 2017     ASSETS         Non-current assets    Intangible assets  3.22.5Land  0.60.6Buildings and structures  7.78.6Renovation costs for rented properties  2.52.7Vessels  281.2294.6Machinery and equipment  4.95.2Advance payments  25.921.6Financial assets recognized at fair value through    other comprehensive income  32.0-Investments available for sale  -27.9Total non-current assets  358.0363.5     Current assets    Inventories  16.317.3Income tax assets  0.41.6Trade and other receivables  30.734.3Cash and cash equivalents  61.868.0Total current assets  109.2121.1     TOTAL ASSETS  467.2484.6     EQUITY AND LIABILITIES         Equity    Share capital  1.81.8Reserves  5.81.7Translation differences  -2.3-1.7Retained earnings  225.3222.2Equity attributable to parent company shareholders  230.7224.1     Total equity  230.7224.1     Non-current liabilities    Deferred tax liabilities  37.537.0Non-current interest-bearing liabilities  103.5127.0Total non-current liabilities  141.0164.1     Current liabilities    Current interest-bearing liabilities  23.523.5Income tax liabilities  0.3-Trade and other payables  71.673.0Total current liabilities  95.596.5     Total liabilities  236.5260.6     TOTAL EQUITY AND LIABILITIES  467.2484.6     CONSOLIDATED CASH FLOW STATEMENT      Jan 1, 2018–Jan 1, 2017–EUR M  Dec 31, 2018Dec 31, 2017     OPERATING ACTIVITIES         Income for the period  5.55.3Adjustments      Depreciation, amortization and impairment losses  23.825.2  Capital gains/losses from non-current assets  -0.1-1.1  Other items not included in cash flow  0.90.6  Interest expenses and other financial expenses  4.04.7  Interest income and other financial income  -0.1-0.2  Dividend income  -2.3-2.0  Income taxes  1.01.3     Change in working capital      Change in trade and other receivables  3.61.8  Change in inventories  1.00.8  Change in trade and other payables  -1.10.3     Interest paid  -3.6-4.2Financial expenses paid  -0.6-0.8Interest received  0.00.0Financial income received  0.10.1Taxes paid  1.0-0.1     NET CASH FLOW FROM    OPERATING ACTIVITIES  33.031.8     INVESTING ACTIVITIES    Investments in vessels  -9.2-9.5Investments in other intangible and tangible assets  -2.3-2.8Advance payments  -4.3-22.4EU funding  -0.8Investments in financial assets recognized at fair value    through other comprehensive income  0.0-Investments in investments available for sale  --0.1Divestments of other intangible and tangible assets  0.11.1Divestments of financial assets recognized at fair value    through other comprehensive income  0.0-Divestments of investments available for sale  -0.0Dividends received  2.32.0     NET CASH FLOW FROM INVESTING ACTIVITIES  -13.5-30.8     FINANCING ACTIVITIES    Principal payments, non-current liabilities  -23.5-23.6Dividends paid  -2.2-4.3     NET CASH FLOW FROM FINANCING ACTIVITIES  -25.7-27.9     CHANGE IN CASH AND CASH EQUIVALENTS  -6.2-26.9Cash and cash equivalents at the beginning of the period  68.094.9     CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD  61.868.0   STATEMENT OF CHANGES IN CONSOLIDATED EQUITY    Equity attributable to parent company shareholders        Share TranslationRetainedTotalEUR M
Posted on February 14, 2019, 7:00 am
INTERIM REPORT 1-12/2018: Net sales increased by 74% in a year of corporate acquisitions and great changes, but exceptionally large non-recurring items reduced profitability, profit guidance specified
NoHo Partners Plc INTERIM REPORT 14 FEBRUARY 2019 at 8:00 NOHO PARTNERS INTERIM REPORT FOR 1 JANUARY-31 DECEMBER 2018 Net sales increased by 74% in a year of corporate acquisitions and great changes, but exceptionally large non-recurring items reduced profitability - profit guidance for 2019 specified NET SALES AND INCOME The Group's Income for October-December of 2018 Entire Group: The Group's net sales were MEUR 98.4 (MEUR 54.4), growth of 80.9 per cent. EBITDA was MEUR 7.3 (MEUR 7.7), decrease of 6.1 per cent. Operating profit was MEUR 2.6 (MEUR 4.3), decrease of 39,0 per cent. Restaurant business: The net sales of the restaurant business segment were MEUR 67.6 (MEUR 34.4), growth of 96.8 per cent. EBITDA was MEUR 4.7 (MEUR 5.9), decrease of 19.8 per cent. Operating profit was MEUR 1.2 (MEUR 3.5), decrease of 67.6 per cent. Labour hire business: The net sales of the labour hire business segment were MEUR 34.2 (MEUR 23.4), growth of 46.1 per cent. EBITDA was MEUR 2.5 (MEUR 1.9), growth of 30.1 per cent. Operating profit was MEUR 1.5 (MEUR 0.8), growth of 90.2 per cent. The Group's Income for January-December 2018 Entire Group: The Group's net sales were MEUR 323.2 (MEUR 185.9), growth of 73.9 per cent. EBITDA was MEUR 28.4 (MEUR 22.4), growth of 26.8 per cent. Operating profit was MEUR 7.2 (MEUR 10.8), decrease of 33.2 per cent. Restaurant business: The net sales of the restaurant business segment were MEUR 209.7 (MEUR 122.2), growth of 71.7 per cent. EBITDA was MEUR 19.6 (MEUR 16.3), growth of 20.3 per cent. Operating profit was MEUR 2.2 (MEUR 6.9), decrease of 68.1 per cent. Labour hire business: The net sales of the labour hire business segment were MEUR 127.1 (MEUR 75.6), growth of 68.1 per cent. EBITDA was MEUR 8.8 (MEUR 6.6), growth of 32.6 per cent. Operating profit was MEUR 5.0 (MEUR 3.8), growth of 29.6 per cent. Figures in parentheses refer to the period last year, unless otherwise stated. SUMMARY Between January and December, net sales increased by 73.9 per cent and EBITDA by 26.8 per cent, and operating profit decreased by 33.2 per cent from the corresponding period the previous year. In October-December, net sales increased by 80.9 per cent, EBITDA decreased by 6.1 per cent and operating profit decreased by 39,0 per cent from the corresponding period in the previous year. The result of the 2018 financial period was encumbered by exceptionally large non-recurring items due to transactions. The factors affecting the result of the restaurant business in the review period included the integration costs of the Royal Ravintolat purchase, investments in international business as well as the sale, closure and concept reinvention of unprofitable business units. There were a total of approximately MEUR -2.1 of non-recurring items with a negative effect on the result, in addition to which there were approximately MEUR -2.8 of non-recurring items that affected the operating profit. The net sales effect of the discontinued restaurant units in the 2018 financial period was approximately MEUR 12, and negative EBITDA was approximately MEUR 2. The nearly MEUR 3.6 sales profit from the sale of SuperPark shares, which took place in April 2018, had a positive impact on the result of the review period. In the 2018 financial period, the labour hire segment carried out significant corporate acquisitions and investments in order to list Smile Henkilöstöpalvelut Oyj on the Nasdaq Helsinki Ltd Stock Exchange. Costs connected to the cancelled IPO amounted to approximately MEUR 1.75, which included over EUR 800,000 of other operating expenses and over EUR 900,000 of finance costs. Expenses associated with corporate acquisitions that affected the EBITDA amounted to approximately EUR 400,000. In addition to these, the sales prices of corporate acquisitions carried out during the financial period were adjusted in financial income for approximately MEUR 1.2 and in finance costs for approximately EUR 100,000. Especially in the restaurant business, most of the profits are made at the end of the year due to the seasonal nature of the business. PROSPECTS FOR 2019 PROFIT GUIDANCE (AS OF 14 FEBRUARY 2019): NoHo Partners estimates that the Group's net sales and profitability will increase this year. The Group aims to achieve, after eliminations, a total net sales of approximately MEUR 390 and a profit margin of approximately 5.8 per cent (approximately MEUR 22.5) by the end of 2019. The restaurant segment aims to achieve net sales of approximately MEUR 250 and a profit margin of over 6 per cent (over MEUR 15). The labour hire segment aims to achieve net sales of approximately MEUR 150 and a profit margin of approximately 5 per cent (approximately MEUR 7.5). The long-term goal of the Group is to achieve net sales of over MEUR 600 and a profit margin of approximately 7.5 per cent by the end of 2021. The restaurant segment aims to achieve net sales of approximately MEUR 350 and a profit margin of approximately 8 per cent. The labour hire segment aims to achieve net sales of approximately MEUR 300 and a profit margin of approximately 6.5 per cent. The Group will update the estimate for the financial period on an annual basis in conjunction with the publication of the result for the fourth quarter. KEY FIGURES      NoHo Partners Group in total      (EUR thousand) 10-12/2018 10-12/2017 1-12/2018 1-12/2017 KEY FIGURES, entire Group      Turnover 98,382 54,391 323,158 185,856 EBITDA 7,272 7,748 28,410 22,404 EBITDA, % 7.4% 14.2% 8.8% 12.1% Operating profit 2,644 4,334 7,190 10,767 Operating profit, % 2.7% 8.0% 2.2% 5.8% Review period result 2,571 1,485 4,231 5,492 To shareholders of the parent company 2,203 1,635 3,494 5,058 To minority shareholders 368 -150 737 434 Earnings per share (euros) to the 0,12 0,10 0,19 0,30 shareholders of the parent company    138,500 43,649 Interest-bearing net liabilities    184.3% 93.1% Gearing ratio, %    24.6% 35.3% Equity ratio, %    5.2% 10.7% Return on investment, % (p.a.) 945 262 2,478 1,099 Restaurant business      (EUR thousand) 10-12/2018 10-12/2017 1-12/2018 1-12/2017 Turnover 67,650 34,378 209,725 122,174 EBITDA 4,747 5,918 19,643 16,325 EBITDA, % 7.0% 17.2% 9.4% 13.4% Operating profit 1,151 3,548 2,206 6,920 Operating profit, % 1.7% 10.3% 1.1% 5.7%       KEY FIGURES      Material margin, % 75.5% 76.0% 73.9% 74.1% Staff expenses, % 33.2% 27.8% 32.1% 28.0% Labour hire business      (EUR thousand) 10-12/2018 10-12/2017 1-12/2018 1-12/2017 Turnover 34,153 23,384 127,090 75,612 EBITDA 2,525 1,940 8,753 6,603 EBITDA, % 7.4% 8.3% 6.9% 8.7% Operating profit 1,493 785 4,970 3,834 Operating profit, % 4.4% 3.4% 3.9% 5.1%       KEY FIGURES      Staff expenses, % 81.7% 84.4% 82.4% 83.7% Key figures for the labour hire segment with the reference data adjusted* Labour hire business      (EUR thousand) 10-12/2018 10-12/2017 1-12/2018 1-12/2017 Turnover 34,153 23,025 127,090 74,366 EBITDA 2,525 1,581 8,753 5,412 EBITDA, % 7.4% 6.9% 6.9% 7.3% Operating profit 1,493 785 4,970 3,834 Operating profit, % 4.4% 3.4% 3.9% 5.2%       KEY FIGURES      Staff expenses, % 81.7% 85.7% 82.4% 85.1% *) The labour hire reference data for 2017 presented in the table has been adjusted to correspond to the application method of the IFRS 15 standard adopted in the labour hire segment in 2018. CEO AKU VIKSTRÖM 2018 was the beginning of a new era In January-December 2018, the net sales of our Group increased by almost 74 per cent and EBITDA by almost 27 per cent, and the operating profit decreased by over 33 per cent from the previous financial period. The result of the review period was affected by exceptionally large non-recurring items due to significant transactions and operational efficiency measures in Finland and abroad. In many ways, the 2018 financial period was the beginning of a new era for our Group. In April, we expanded our restaurant business to the international market in Denmark and, in June, we became one of the biggest restaurant groups in the Nordic countries by merging with Royal Ravintolat. In November 2018, we announced our new name, NoHo Partners Plc (Nordic Hospitality Partners), our new strategy and our goals. We created a new company and identity that portrays our strengths and future goals better than ever. The 2018 financial period was encumbered by exceptionally large non-recurring items due to the attempted initial public offering of Smile Henkilöstöpalvelut, restructuring of the restaurant portfolio, organisational rearrangement and transactions of international business. With target-oriented changes, there were a total of approximately MEUR -2.1 of non-recurring items affecting EBITDA and with a negative effect on the result of the 2018 financial period, in addition to which there were approximately MEUR -2.8 of non-recurring items that affected the operating profit. The result for the review period was also affected by, for example, Smile's IPO expenses of approximately MEUR 1.75. The sale of SuperPark Oy in the second quarter had a positive impact on the result for the financial period. At the end of 2018, the restaurant business segment was organised according to the four business areas: food restaurants, nightclubs and pubs, fast casual and international restaurants. As expected, the fourth quarter was good in the food restaurants and fast casual segments, thanks to the continued rising trend of eating out. The nightclub and pub business fell slightly short of expectations compared to the corresponding period last year. Its Christmas season was more moderate than the previous year, where the people celebrated 100 years of Finnish independence and used the services of nightclubs and pubs in record-breaking numbers. In our other main market area, in Tampere, the extensive alterations in the city centre due to the tram project also partly reduced the consumption of our restaurant services. Our international restaurant business was encumbered by new transactions, starting costs and investments in organisational reinforcement. We believe that these actions will translate to profitable growth in the first half of 2019. Determined start for new strategy and profit improvement programmes We updated our new strategy of profitable growth in the fourth quarter of the year. Its key aims are profitable growth in Finnish growth centres and large events organically through new establishments and corporate acquisitions as well as digitally, international expansion to the Northern European market as well as profitable growth in labour hire services organically and through corporate acquisitions. Our strategy of profitable growth is supported by the short and long-term profit improvement programmes. The short-term (2018-2019) profit improvement programmes include the integration of Royal Ravintolat, restructuring of the restaurant portfolio and the core business development programme, all of which have started out effectively. The integration of Royal Ravintolat is proceeding according to schedule and is estimated to bring about at least MEUR 6 of synergy benefits for the Group by the end of 2019. The consolidation of management and administration (synergy value MEUR +1) was fully completed in the second half of 2018, as were the centralisation of purchase and procurement as well as negotiation of better purchase contracts (synergy value MEUR +1.5). The new, more flexible staffing structure and operating model will be introduced in the first quarter of 2019, and its results (synergy value MEUR +3.5) will start to show starting from the second quarter. The restructuring and revamping of our restaurant portfolio will enable us to focus on our core business and its profitable growth. In the second half of 2018, we closed 23 unprofitable restaurant units with significantly lower competitiveness due to their location, lease or competitive conditions. The closed units include Bella Roma, Colorado Bar & Grill and Tammergolf restaurant in Tampere, Beefking and Lietsunkulma in Lielahti, Wäinö in Hämeenlinna, Bella Roma in Lappeenranta, Enso in Helsinki, American Diners in Citykäytävä and Easton, Colorado Bar & Grill in Hernesaaren Ranta, Thai Papayas in Herttoniemi and Hernesaaren Ranta, Hieta, Royal Crowne Plaza, Svenska Klubben, Ooh la laa, Hanko Sushi in Ruokolahti, Pepe Lopez and Café Europa in Pori, Hunaja in Lappeenranta, Bar Soolo in Kotka and Sinisoihtu in Rauma. The combined operational net sales effect of all these units for the entire financial period is approximately MEUR 12, and their removal also eliminates approximately MEUR 2 of negative EBITDA. The core business development programme seeks organic growth and allocates resources more strongly into the profitability of core business. The company's extensive brand portfolio and partner model enable the local and profitable reinvention of concepts as well as the creation of new business ideas. Examples include Sikke's (to be opened in place of Sandro in Eira), Hanko Sushi (opened in place of Thai Papaya in Lempäälä), Hanko Sushi (opened in place of Mura Sushi in Ruka), Pizzeria Luca (to be opened in place of Purpur in Tampere) and Taqueria el Rey (to be opened in place of Patrona in Helsinki). The company's commercial organisation has been strengthened, and the sales functions have been concentrated in Helsinki. Smile Henkilöstöpalvelut still growing faster than the rest of the sector 2018 was another time of strong and profitable growth for our labour hire business. In 2014, when Smile Henkilöstöpalvelut joined the company, its net sales were approximately MEUR 6.8, whereas now, in the 2018 financial period, the net sales reached MEUR 127.1. The net sales of Smile Henkilöstöpalvelut increased almost 68 per cent from the previous year, EBITDA by almost 33 per cent and operating profit by almost 30 per cent. When the result is adjusted with costs connected to the IPO, the comparable EBITDA improved by approximately 45 per cent and the operating profit by approximately 51 per cent. In 2018, Smile acquired several companies specialised in labour hire for industry, construction and logistics, such as Kymppi Service Oy, Jobio companies and Adicio Oy, which specialises in the import of foreign construction labour as well as Job Services Two Oy and Job Services Three Oy, which are focused on construction industry labour needs, in particular. In addition to the corporate acquisitions, organic growth, especially in the restaurant and hospitality sector (HoReCa), served as an engine for the strong growth. Although the Smile IPO at the Nasdaq Helsinki Ltd Stock Exchange was cancelled in the fourth quarter, Smile achieved a comparable result and benefited from the process in many ways. The entire organisation was subjected to a critical review, which leaves the company's operations on stronger foundations than ever before. Towards the end of the year, Smile focused on enhancing and harmonising its internal processes. The company invested in brand work and new digital solutions, which are intended in future to make the recruitment process faster for the employees and employers. Smile also launched a direct recruitment service: Smile Rekry finds its clients experts and executives for sales, marketing, ICT and administrative positions. New sectors and services are constantly being mapped. Future growth potential is seen in the logistics sector, in particular. 2019 looks bright for Smile. The labour hire sector is believed to continue its growth, although the availability of labour is slowing the market slightly. The availability issue will be resolved, for example, through the foreign labour import services of Smile Import and active cooperation with educational institutes. The company wants to grow organically and, as in previous years, more quickly than the market. We aim to carry out corporate acquisitions and thus continue to consolidate the market. The company makes a good profit and cash flow, and good options are seen for financing its growth. New strategy and financial goals to guide operations We updated the new long-term financial goals in the fourth quarter of 2018. We aim to achieve net sales of over MEUR 600 and a profit margin of approximately 7.5 per cent by the end of 2021. By the end of the 2019 financial period, we will seek net sales of approximately MEUR 250 and a profit margin of over 6 per cent in the restaurant segment and net sales of approximately MEUR 150 and a profit margin of approximately 5 per cent in the labour hire segment. Relative to the strong cash flow of 2019, our debt ratio is good and our MEUR 139 net liabilities are controlled. At the core of our profitable growth is international expansion - in 2019, we will focus on profitable growth in Denmark and expansion to a new market in Northern Europe in accordance with our strategy. After a year of many changes, we have started the journey towards our new goals. In the long term, the core of profitable growth includes investing in sales and marketing with digital solutions, selected big and profitable new projects as well as garnishing an international growth platform. Aku Vikström, CEO DIVIDEND On 31 December 2018, NoHo Partners Plc's distributable assets were EUR 73,177,641.92, of which the share from the profit for the financial period is EUR 4,092,561.33. There have been no significant changes to the company's financial situation since the end of the financial period. NoHo Partners Plc's Board of Directors proposes to the Annual General Meeting to be held on 24 April 2019 that EUR 0.34 (EUR 0.33) per share, a total of EUR 6,423,397.98 (18,892,347 shares), be paid as the dividend for the financial period ended on 31 December 2018 based on the adopted balance sheet. CASH FLOW, INVESTMENTS AND FINANCING The Group's operating net cash flow in January-December 2018 was MEUR 18.7 (MEUR 17.8). Growth investments made during the past review period included the opening of Hanko Sushi restaurants in Lempäälä and Ruka, the concept reinvention of restaurant Henkka in Tampere and the changing of the Group name to NoHo Partners Plc. The Group's interest-bearing net liabilities at the end of December 2018 were MEUR 138.5 (MEUR 43.6). The net finance costs in January-December 2018 were MEUR 2.5 (MEUR 1.1). Equity ratio was 24.6% (35.3%) and gearing ratio was 184.3% (93.1%). NOHO PARTNERS PLC'S FINANCIAL REPORTING IN 2019 NoHo Partners Group's 2018 annual report will be published during week 13. The interim reports for 2019 will be published as follows: January-March on Tuesday 07/05/2019 at 8:00amJanuary-June on Tuesday 06/08/2019 at 8:00amJanuary-September on Tuesday 05/11/2019 at 8:00am NoHo Partners Plc's Annual General Meeting will be held in Tampere on Wednesday 24/04/2019. The invitation to the general meeting will be published during week 13. PRESS CONFERENCE FOR MEDIA AND ANALYSTS AT 9:30 AM There will be a press conference for media and analysts today, Thursday 14 February 2019, starting 9:30 am at Pörssiklubi at Fabianinkatu 14 A, 4th floor, 00100 Helsinki. NoHo Partners Plc's CEO Aku Vikström and Smile Henkilöstöpalvelut Oyj's CEO Sami Asikainen will present the result for the review period and speak about topical issues and future prospects. The presentation material and a video recording will become available on the company website later today. The full NoHo Partners interim report for January-December 2018 is appended to this release in PDF format. The interim report is also available on the company's website at www.noho.fi. NOHO PARTNERS PLC Board of Directors APPENDIX: NoHo Partners Plc Interim Report 2018 Additional information: Aku Vikström, CEO, tel +358 44 011 1989 Jarno Suominen, CFO, tel +358 40 721 5655 Distribution: NASDAQ Helsinki Major mediawww.noho.fi NoHo Partners Plc is a Finnish group established in 1996, specialising in restaurant services and labour hire. The company, which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include over 200 restaurants in Finland and Denmark. Well-known restaurant concepts of the company include Elite, Savoy, Teatteri, Yes Yes Yes, Stefan's Steakhouse, Palace, Löyly, Hanko Sushi and Cock's & Cows. In 2018, NoHo Partners Plc's net sales were MEUR 323.2 and EBITDA MEUR 28.4. Depending on the season, the Group employs approximately 4,000 people when converted into full-time workers. NoHo Partners Plc's subsidiary Smile Henkilöstöpalvelut Oyj employed approximately 10,000 people during the 2018 financial period. NoHo Partners corporate website: www.noho.fiNoHo Partners consumer websites: www.ravintola.fi and www.royalravintolat.fiSmile Henkilöstöpalvelut: www.smilepalvelut.fi Attachment NoHo_Partners_Plc_Interim_Report_2018.pdf
Posted on February 14, 2019, 6:01 am
Wingstop Inc. to Announce Fourth Quarter and Full Year 2018 Financial Results on February 27, 2019
DALLAS, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Wingstop Inc. (NASDAQ: WING) (the “Company” or “Wingstop”) today announced that it will host a conference call and webcast to discuss its fourth quarter and full year 2018 financial results on Wednesday, February 27, 2019 at 4:30 PM EST. Hosting the conference call will be Charlie Morrison, Chairman and Chief Executive Officer, and Michael Skipworth, Executive Vice President and Chief Financial Officer. A press release with fourth quarter and full year 2018 financial results will be issued that same day, shortly after the market closes. The conference call can be accessed live by dialing 1-201-689-8562. A replay will be available two hours after the call and can be accessed by dialing 1-412-317-6671; the passcode is 13687555. The replay will be available through Wednesday, March 6, 2019. The conference call will also be webcast live and later archived on the investor relations section of Wingstop’s corporate website at ir.wingstop.com under the ‘News & Events’ section. About Wingstop Founded in 1994 and headquartered in Dallas, Texas, Wingstop Inc. (NASDAQ:WING) operates and franchises more than 1,200 restaurants across the United States and nine other countries around the world. The Wing Experts’ menu features classic and boneless wings with 11 bold, distinctive flavors including Original Hot, Cajun, Atomic, Mild, Lemon Pepper, Hawaiian, Garlic Parmesan, Hickory Smoked BBQ, Louisiana Rub, Spicy Korean Q, and Mango Habanero. Wingstop’s wings are always cooked to order, hand-sauced and tossed and served with our fresh-cut, seasoned fries and made-from-scratch Ranch and Bleu Cheese dips. The Company has grown its domestic same store sales for 15 consecutive years, has been ranked #3 on the “Top 100 Fastest Growing Restaurant Chains” by Nation’s Restaurant News (2016), was ranked #7 on the “Top 40 Fast Casual Chains” by Restaurant Business (2016), and was named “Best Franchise Deal in North America” by QSR magazine (2014). For more information visit www.wingstop.com or www.wingstopfranchise.com. Follow us on facebook.com/Wingstop and Twitter @Wingstop. Media Contact Brian Bell972-707-3956bbell@wingstop.com Investor Contact Ted McHugh and Lauren Tarola917-530-7792WingstopFinComm@edible-inc.com 
Posted on February 13, 2019, 9:05 pm
RLH Corporation Finished 2018 With 167 New Franchise Agreements
Company Expects to Execute 160 to 200 Franchise Agreements in 2019DENVER, Feb. 13, 2019 (GLOBE NEWSWIRE) -- RLH Corporation (NYSE:RLH) announced today it has achieved a record 167 executed hotel franchise agreements in 2018. Specifically, the Company signed 37 mid and upscale hotels and 130 select service hotels in addition to acquiring over 350 select service franchise agreements with the acquisition of Knights Inn. RLH Corporation now encompasses over 85,500 rooms; an increase of 24% from 2017 and upscale brands now comprise 8% of the Company’s hotels.    “2018 was an outstanding and transformational year for the Company,” said RLH Corporation President and Chief Executive Officer Greg Mount. “We intensified our focus and invested incremental expert resources on our franchise business, especially on the human capital front. We also began seeing meaningful improvement to the velocity and volume of our franchise agreement signings. These important shifts in focus, leadership and strategy will serve us well, as we continue to progress to a fully asset light franchise company. We are particularly encouraged by the interest in our mid and upscale brands.” During 2018 the Company signed agreements for four Hotel RLs, including one on Miami Beach, Florida. It opened its first resort hotel with The Island in Fort Walton Beach, FL and opened Signature San Francisco, the first from this refreshed brand. In addition during 2018, RLH Corporation sold nine owned hotels for over $116 million in gross proceeds. In order to concentrate even more of their available resources on the franchise business, the company has transitioned four of the remaining owned hotels to third-party managers in anticipation of future sales.  The Company is experiencing continued strong interest in its franchises into 2019 and is providing guidance of 160 to 200 executed agreements for the year.  As previously communicated, the Company’s franchise development efforts are being intensified on its mid and upscale brands. You can refer to the Company’s most recent investor presentation to learn more about RLH’s long term outlook here: http://ir.redlion.com. Learn more about franchising with RLH Corporation, visit franchise.rlhco.com. We don’t wait for the future. We create it. About RLH CorporationRed Lion Hotels Corporation is an innovative hotel company doing business as RLH Corporation and focuses on the franchising, management and ownership of upscale, midscale and economy hotels. The company focuses on maximizing return on invested capital for hotel owners across North America through relevant brands, industry-leading technology and forward-thinking services. For more information, please visit the company's website at www.rlhco.com. Social Media:www.Facebook.com/myhellorewards www.Twitter.com/myhellorewards www.Instagram.com/myhellorewards www.Linkedin.com/company/rlhco  Investor Relations Contact: Evelyn InfurnaInvestor Relations 203-682-8265investorrelations@rlhco.com  Media Contact:Dan Schacter   Director, Social Engagement and Public Relations509-777-6222dan.schacter@rlhco.com RLH Corporation 2018 Brand Growth Upscale        Hotel RL1Red Lion HotelRed Lion Inn & SuitesSignatureSettle InnOtherTotalBeginning Property Count7 38 36 0 3 18 102 Opened3 14 12 1 0 0 30 Change in Brand0 0 (1)1 (1)(1)(2)Terminated(2)(6)(4)0 (2)(4)(18)Ending Property Count8 46 43 2 0 13 112         Development Executions 5191210037 1 - There are 7 Hotel RL's executed and scheduled to open in the future.          Select Service        Americas and Canadas Best Value InnKnights InnCountry HearthGuestHouseSignature InnOtherTotalBeginning 850 0 41 29 3 55 978 Opened23 366 3 1 1 1 395 Change in Brand(1)0 17 2 0 (16)2 Terminated(95)(34)(8)(5)(1)(17)(160)Ending777 332 53 27 3 23 1,215         Development Executions 881225401130           
Posted on February 13, 2019, 9:00 pm
inCruises International Expands to Argentina and Peru
SAN JUAN, Puerto Rico, Feb. 13, 2019 (GLOBE NEWSWIRE) -- In 2016, inCruises International, the world’s largest cruise membership club, embarked on unprecedented global expansion, a move designed to provide more people around the world with the opportunity to travel affordably and profitably. This month, two new countries in Latin America have been added to the company’s portfolio: Argentina and Peru. The announcement means that people in Argentina and Peru with entrepreneurial ambitions can join Independent Representatives across the globe who earn income by selling inCruises exclusive Cruise Membership Club. “We’re honored to welcome two new countries in Latin America to the inCruises family,” CEO of inCruises International Michael Hutchison said. “One of the greatest assets of our company is to give people and families a dependable vehicle to realize their potential and to celebrate their accomplishments while seeing the world. We’re grateful that the culture, focus, and passion of people in Argentina and Peru align with the values of our company.” CEO Michael Hutchison went on to say. “I was grateful to personally meet our team including Mr. Agustin Bermejo, Mr. Marcos Heredia, Mr. Adrian Prieto, Ms. Sara Cisneres and Mr. Ray Apaza. Our partnership with our Independent Representatives is the key for our continuing success globally and we are lucky to be surrounded with such nice and hard-working Partners. I was also excited to visit Buenos Aires and Lima for the first time. I can’t wait to go back in April.” “Adding Argentina and Peru is expected to bolster the region’s economy through business opportunities and increased cruise tourism. Plus, the Galapagos Islands off of Ecuador and trek to Machu Picchu in Peru are a must-see for outdoor lovers.  And finally, a Round-the-Horn cruise takes passengers from Brazil south to the tip of Argentina before exploring the fjords of Chile.” said VP of Communications Abel Prieto. For more information about inCruises, visit: www.incruises.comLinkedInTwitter About inCruises International Since launching its flagship membership in 2015, inCruises International has grown to become the premier cruise membership club with Members and Partners in over 178 countries all over the world. Today, with more than 130,000+ Members and over 40,000+ Partners, inCruises is making a measurable difference in the lives of its Members and is committed to ethically providing a business ownership opportunity to its growing Partner team. Through an unwavering commitment to excellence, inCruises is attracting a new global market of mostly first-time passengers on amazing cruise vacations. Members enjoy access to 5000+ of the most desirable cruise travel destinations and ocean ports around the world. Those who are interested in building an independent business, can also become Independent Representatives and sell Cruise vacation memberships to similar cruise travel enthusiasts. The company is also committed to positive global corporate citizenship by supporting the Ocean Cleanup Project and the Make-a-Wish Foundation. To share in the experience, please visit our Business and Membership opportunity at https://www.incruises.com CONTACT: Contact: legal@incruises.com
Posted on February 13, 2019, 5:36 pm
Gaming and Leisure Properties, Inc. Announces Fourth Quarter and Full Year 2018 Results
- Record Revenues for the Fourth Quarter and Full Year -- Establishes 2019 First Quarter and Full Year Guidance - WYOMISSING, Pa., Feb. 13, 2019 (GLOBE NEWSWIRE) -- Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) (the “Company”), the first gaming-focused real estate investment trust (“REIT”) in North America, today announced results for the quarter and full year ended December 31, 2018. Chief Executive Officer, Peter M. Carlino, commented, “The fourth quarter of 2018 once again demonstrated the strength and consistency of our operating model as we generated record revenues for the fourth quarter and full year.  Our growing diversified portfolio of regional gaming assets is managed by the top operators in the industry and continues to produce one of the triple-net REIT sector's most stable cash flow streams.  In 2018, we completed $1.5 billion of value creating investments, further strengthening our position as the leading owner of regional gaming real estate.  These transactions further diversified our portfolio with two new tenants, which added 8 new properties and increased annual real estate revenue by $155 million. Throughout 2019 we will remain focused on identifying and pursuing portfolio enhancing accretive transactions and prudently managing our balance sheet and capital structure.” Financial Highlights   Three Months Ended  December 31, Year Ended December 31,         (in millions, except per share data) 2018Actual 2017Actual 2018Actual 2017ActualTotal Revenue $303.3  $240.7  $1,055.7  $971.3 Net Income $45.9  $93.3  $339.5  $380.6 Funds From Operations (1) $97.4  $118.5  $465.4  $481.7 Adjusted Funds From Operations (2) $181.6  $165.3  $683.6  $669.5 Adjusted EBITDA (3) $258.0  $219.9  $926.6  $884.6          Net income, per diluted common share $0.21  $0.43  $1.58  $1.79 FFO, per diluted common share $0.45  $0.55  $2.17  $2.26 AFFO, per diluted common share $0.84  $0.77  $3.18  $3.15  _______________________________________ (1) Funds from operations (“FFO”) is net income, excluding (gains) or losses from sales of property and real estate depreciation as defined by NAREIT. (2) Adjusted funds from operations (“AFFO”) is FFO, excluding stock based compensation expense, amortization of debt issuance costs, bond premiums and original issuance discounts, other depreciation, amortization of land rights, straight-line rent adjustments, direct financing lease adjustments, losses on debt extinguishment, retirement costs and goodwill impairment charges reduced by capital maintenance expenditures. (3) Adjusted EBITDA is net income, excluding interest, taxes on income, depreciation, (gains) or losses from sales of property, stock based compensation expense, straight-line rent adjustments, direct financing lease adjustments, the amortization of land rights, losses on debt extinguishment, retirement costs and goodwill impairment charges. Transaction Update During the fourth quarter the Company acquired the real property assets of 5 casino properties from Tropicana Entertainment, Inc. and leased these assets to Eldorado Resorts, Inc. (NASDAQ: ERI) (“ERI”) and initiated a mortgage loan for a sixth property to ERI. In addition, the Company acquired the real property assets of Plainridge Park Casino from Penn National Gaming, Inc. (NASDAQ: PENN) (“PENN”) and amended the Pinnacle Entertainment Master Lease. Lastly, the Company initiated a mortgage loan to Boyd Gaming Corporation (NYSE: BYD) (“BYD”) for the acquisition of Belterra Park.  The following table summarizes the annualized cash revenue related to the completion of these transactions: Closing Date Tenant/Mortgagee Initial Annualized Incremental ContractualCash Revenue (in thousands)October 1, 2018 ERI $110,000 October 15, 2018 PENN $38,900 October 15, 2018 BYD $6,409  Portfolio Update The Company recorded a non-cash goodwill impairment charge of $59.5 million in connection with its operations at Hollywood Casino Baton Rouge. This charge was driven by general market deterioration in the Baton Rouge region and the smoking ban in East Baton Rouge Parish casinos that went into effect during the second quarter of 2018, both of which significantly impacted the Company's forecasted cash flows for this property. GLPI's primary business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. As of December 31, 2018, GLPI's portfolio consisted of interests in 46 gaming and related facilities, including the TRS Properties, the real property associated with 33 gaming and related facilities operated by PENN, the real property associated with 6 gaming and related facilities operated by ERI (including one mortgaged facility), the real property associated with 4 gaming and related facilities operated by BYD (including one mortgaged facility) and the real property associated with the Casino Queen in East St. Louis, Illinois. These facilities are geographically diversified across 16 states and contain approximately 23.5 million square feet. Balance Sheet Update The Company had $25.8 million of unrestricted cash and $5.9 billion in total debt at December 31, 2018.  The Company’s debt structure as of December 31, 2018 was as follows:   As of December 31, 2018  Interest Rate Balance    (in thousands)Unsecured $1,175 Million Revolver (1) 3.922% $402,000 Unsecured Term Loan A-1 (1) 4.004% $525,000 Senior Unsecured Notes Due 2020 4.875% 1,000,000 Senior Unsecured Notes Due 2021 4.375% 400,000 Senior Unsecured Notes Due 2023 5.375% 500,000 Senior Unsecured Notes Due 2025 5.250% 850,000 Senior Unsecured Notes Due 2026 5.375% 975,000 Senior Unsecured Notes Due 2028 5.750% 500,000 Senior Unsecured Notes Due 2029 5.300% 750,000 Capital Lease 4.780% 1,112 Total long-term debt   $5,903,112 Less: unamortized debt issuance costs, bond premiums and original issuance discounts   (49,615)Total long-term debt, net of unamortized debt issuance costs, bond premiums and original issuance discounts   $5,853,497  _______________________________________ (1)   The rate on the term loan facility and revolver is LIBOR plus 1.50%. The Company's revolver matures on May 21, 2023 and the incremental term loan of $525.0 million matures on April 28, 2021. As of December 31, 2018, the Company had $213.7 million remaining for issuance under the ATM Program and had not entered into any forward sale agreements. No shares were issued under the ATM Program during the quarter ended December 31, 2018. Dividends On October 12, 2018, the Company’s Board of Directors declared the fourth quarter 2018 dividend.  Shareholders of record on December 14, 2018 received $0.68 per common share, which was paid on December 28, 2018.  The Company anticipates the following schedule regarding dividends to be paid in 2019: Payment DatesMarch 22, 2019June 28, 2019September 20, 2019December 27, 2019 Guidance The table below sets forth current guidance targets for financial results for the 2019 first quarter and full year, based on the following assumptions: Includes the full year impact of the transaction closed on October 1, 2018, with Tropicana and the impact of the transactions closed on October 15, 2018 with PENN, PNK, and BYD;Reported range of revenue (excluding and including annual tenant escalators) from real estate of approximately $1,026.2 to $1,031.8 million for the year and $255.7 million for the first quarter (no additional escalators during the first quarter), consisting of:   ThreeMonthsEndingMarch 31,2019 Full Year EndingDecember 31, 2019(in millions) FirstQuarter Full Year RangeCash Revenue from Real Estate      PENN $202.6  $812.4  $816.5 ERI 27.5  110.0  110.4 BYD 25.6  103.9  105.0 Casino Queen 3.6  14.5  14.5 PENN non-assigned land lease (0.7) (2.9) (2.9)Total Cash Revenue from Real Estate $258.6  $1,037.9  $1,043.5        Non-Cash Adjustments      Straight-line rent $(8.6) $(34.6) $(34.6)Land leases paid by tenants 5.7  22.9  22.9 Total Revenue from Real Estate as Reported $255.7  $1,026.2  $1,031.8  Adjusted EBITDA from the TRS Properties of approximately $30.7 million for the year and $8.2 million for the first quarter;Blended income tax rate at the TRS Properties of 33%;LIBOR is based on the forward yield curve; andThe basic share count is approximately 214.5 million shares for the year and 214.5 million shares for the first quarter and the fully diluted share count is approximately 215.3 million shares for the year and 215.1 million shares for the first quarter.   Three Months EndingMarch 31, Full Year Ending December 31,     (in millions, except per share data) 2019Guidance 2018Actual 2019 Guidance Range 2018ActualTotal Revenue $288.5  $244.1  $1,154.1  $1,159.8  $1,055.7            Net Income $106.0  $96.8  $431.9  $441.6  $339.5 Losses from dispositions of property —  —  —    0.3 Real estate depreciation 55.7  25.1  220.6  220.6  125.6 Funds From Operations (1) $161.7  $121.9  $652.5  $662.2  $465.4 Straight-line rent adjustments 8.6  16.6  34.6  34.6  61.9 Direct financing lease adjustments —  18.2  —  —  38.4 Other depreciation 2.9  2.8  9.9  9.9  11.4 Amortization of land rights 3.1  2.7  12.3  12.3  11.3 Amortization of debt issuance costs, bond premiums and original issuance discounts 2.9  3.3  11.5  11.5  12.2 Stock based compensation 3.7  4.0  15.0  15.0  11.2 Losses on debt extinguishment —  —  —  —  3.5 Retirement costs —  —  —  —  13.1 Goodwill impairment charges —  —  —  —  59.5 Capital maintenance expenditures (0.9) (0.8) (3.5) (3.5) (4.3)Adjusted Funds From Operations (2) $182.0  $168.7  $732.3  $742.0  $683.6 Interest, net 76.4  53.6  306.4  306.4  245.9 Income tax expense 1.3  1.5  5.0  5.0  5.0 Capital maintenance expenditures 0.9  0.8  3.5  3.5  4.3 Amortization of debt issuance costs, bond premiums and original issuance discounts
Posted on February 13, 2019, 12:00 pm
NEXT GAMES CORPORATION - TRANSITION TO IFRS REPORTING
Next Games Corporation Company Release 13 February 2019 at 13:00 EET On January 10, 2019, Next Games published preliminary information prepared in accordance with the FAS standard concerning its financial performance for fourth quarter 2018 and announced that the company will transition from Finnish Accounting Standard (FAS) to International Financial Reporting Standards (IFRS) reporting. Previously Next Games has prepared its published financial statements in accordance with Finnish Accounting Standards (FAS). Next Games has prepared the following unaudited IFRS financial information to provide its investors comparative information on Next Games’ previously published consolidated statement of comprehensive income, consolidated statement of financial position and key figures for the years ended December 31, 2016 and December 31, 2017 and the six month periods ended June 30, 2016, December 31, 2016, June 30, 2017, December 31, 2017 and June 30, 2018 as well as consolidated statement of financial position as at the transition date to IFRS January 1, 2016. Key differences to the Finnish Accounting Standards resulting from the transition to IFRS are described in accompanying notes to this company release. For additional information on the historical financial information prepared in accordance with FAS, refer to the audited historical consolidated financial statements and the unaudited half year consolidated financial information of Next Games on the company's website at www.nextgames.com. The financial information included in this release is unaudited except for the consolidated statement of financial position information for the year ended 2016 and 2017. As part of the accounting standard change, Next Games changed the presentation of expenses of the consolidated statement of comprehensive income from classification based on nature to classification based on function. Therefore, also the FAS income statement figures are unaudited from financial years 2016 and 2017. Next Games publishes its full-year financial bulletin on February 15, 2019. Key Financial Figures (IFRS) 1000 EUR1.1-31.12.20181.7-31.12.20181.1-30.6.20181.1-31.12.20171.7-31.12.20171.1-30.6.20171.1-31.12.20161.7-31.12.20161.1-30.6.2016Revenue, gross bookings and gross Margin         Revenue35,245 24,768 10,477 32,466 13,014 19,452 31,112 18,326 12,786 Gross bookings35,788 25,339 10,449 30,930 12,641 18,289 33,594 19,828 13,766 Gross Profit21,294 15,260 6,034 19,308 8,118 11,190 16,870 9,828 7,043           Operating profit and adjusted Operating Profit         Operating profit (loss)-16,914 -11.961 -4,954 -5,072 -4,202 -870 -2,192 1,593 -3,785 Depreciation and amortisation (excluding IFRS 16)1,654 -1,513 140 382 132 251 244 122 123 Adjusted operating profit (loss)-15,261 -10,447 -4,814 -4,690 -4,070 -619 -1,948 1,714 -3,662                     As percentage of revenue         Gross Profit (%)60%62%58%59%62%58%54%54%55%Operating profit margin (%)-48%-48%-47%-16%-32%-4%-7%9%-30%Adjusted Operating Profit (%)-43%-42%-46%-14%-31%-3%-6%9%-29% 2018 Consolidated statement of comprehensive income Jan 1 – Jun 30, 2018 EUR thousand FASTotal IFRS adjustmentsIFRS     Jan 1 – Jun 30, 2018 Jan 1 – Jun 30, 2018 Revenue from contracts with customers 10 477 10 477 Cost of revenue -4 382-60-4 443 Gross profit 6 094-606 034 Other operating income 45 45 Research and development costs -6 6473 092-3 555 Sales and marketing costs -5 338-68-5 405 Administrative costs -2 14572-2 073 Operating profit  -7 9903 036-4 954 Finance income 722 722 Finance costs -1 461995-466 Finance costs - net -740995255       Share of associates' profit/loss  -116-116       Profit before taxes -8 7303 915-4 815 Income taxes     Change in deferred tax 9-742-733 Total income tax expense 9-742-733       Profit for the period -8 7213 173-5 547       Total comprehensive income for the period -8 7213 173-5 547  Consolidated balance sheet June 30, 2018 EUR thousand FASTotal IFRS adjustmentsIFRS     June 30, 2018 June 30, 2018 Assets     Non-current assets     Intangible assets 6 6643 2299 893 Goodwill 7902 5543 344 Property, plant and equipment2321 4341 666 Investments 63-630 Share of associates  393393 Long-term debtors 669 669 Deferred tax assets 2 785-8891 896 Non-current assets total 11 2046 65817 863       Current assets     Trade and other receivables 6 368-96 359 Cash and cash equivalents 16 940 16 940 Current assets total 23 308-923 300       Total assets 34 5136 65041 162       Equity and liabilities     Shareholders’ equity     Share capital 80 80 Invested non-restricted equity reserve53 30758953 897 Retained earnings -16 7552 922-13 832 Profit (loss) for the period -8 7213 173-5 547 Shareholders’ equity 27 9126 68534 597       Liabilities     Non-current liabilities     Governmental agency loan 663-35628 Non-current liabilities total 663-35628       Current liabilities     Governmental agency loan 112 112 Deferred revenue 886 886 Trade payables 2 042
Posted on February 13, 2019, 11:00 am
Canada Jetlines and Québec City Airport Sign Agreement
QUEBEC CITY, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Canada Jetlines Ltd. (JET: TSX-V) (JETMF: OTCQB) (the “Company” or “Jetlines”) and the Québec City Jean Lesage International Airport (YQB) (the “Québec City airport”, “YQB” or the “airport”) are pleased to announce they have reached an agreement in principle. Canada Jetlines intends to provide future ultra-low fare service from the airport. In 2017, Québec City Jean Lesage International Airport doubled its capacity by opening a brand-new international terminal. Since its privatization in 2000, the airport has tripled its traffic going from 643,000 passengers to 1.8 million in 2018. YQB remains one of the fastest growing airports in Canada, with an annual compound passenger growth rate of 7.2% per year for the last 15 years. Québec City has long been recognized as a premium tourist destination for Canadians, Americans, and international visitors. In 2016, Québec City had over 4 million tourists and that number continues to increase annually. Jetlines is excited about its plans to come into the market and provide a low-cost alternative to locals and tourists alike. Javier Suarez, Jetlines CEO, stated “Québec City is an exciting addition to our future route network that will provide more Canadians with diversified and low-cost alternatives to explore this beautiful country. Jetlines plans to offer domestic as well as international flights. Québec City is also home to world-class tourism infrastructure and has been an increasingly popular destination for many travelers in recent years. This partnership will allow us to tap into the market opportunity available and stimulate demand for more travel, which Jetlines will be able to leverage to grow its business.” “We salute Canada Jetlines' willingness to serve the passengers of Québec City. This decision aligns perfectly with our development strategy to improve accessibility to Québec City, increase the region’s connections to the rest of the world, and support its economic growth, visibility and prestige”, said Gaëtan Gagné, President and CEO of YQB. “Bringing a low-cost option to Québec City was one of our top priority for the future and one of the reasons why we’ve expanded our terminal. I am delighted to see that this strategy is paying off and we welcome Jetlines with enthusiasm”, he concluded. The Company’s ability to service this airport is subject to the completion of the airline licensing process and the receipt of applicable regulatory approvals. About Canada Jetlines Ltd. Canada Jetlines is set to become Canada’s first true Ultra-Low Cost Carrier (ULCC) airline, with plans to operate flights across Canada and provide non-stop service from Canada to the United States, Mexico and the Caribbean. The Company plans to commence operations with the Airbus A320 fleet, the most widely used aircraft for ultra-low cost carriers worldwide. Jetlines is led by a board and management team with extensive experience and expertise in low-cost airlines, start-ups and capital markets. The Company was granted an unprecedented exemption from the Government of Canada that will permit it to conduct domestic air services while having up to 49% foreign voting interests. For more information on Jetlines, please visit our website at www.jetlines.ca. ON BEHALF OF THE BOARD "Mark J. Morabito"Executive Chairman Canada Jetlines is part of the King & Bay group of companies. King & Bay is a merchant bank that specializes in identifying, funding, developing and supporting growth opportunities in the resource, aviation, and technology sectors. For more information, please contact:Toll Free: 1-833-226-5387Email: investor.relations@jetlines.ca Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, statements with respect to the routes and airports that Jetlines intends to service, Jetlines ability to operate from these airports, and operate these routes successfully, the commencement of operations and the success of expected future operations of the Company. In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things the receipt of financing to commence airline operations, the accuracy, reliability and success of the Jetlines’ business model; the timely receipt of governmental approvals; the timely commencement of operations by Jetlines and the success of such operations; the legislative and regulatory environments of the jurisdictions where the Jetlines will carry on business or have operations; the impact of competition and the competitive response to the Jetlines’ business strategy; and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to, the ability to obtain financing at acceptable terms and in a timely manner to meet aircraft lease, regulatory and other financial commitments required for start-up, the impact of general economic conditions, domestic and international airline industry conditions, future relations with SmartLynx, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement Jetlines’ operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; risks related to disputes under the agreement with Boeing to acquire 737-Max aircraft, and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking information. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Posted on February 13, 2019, 10:30 am
Monolithic Power Systems Announces Results for the Fourth Quarter and Year Ended December 31, 2018, and an Increase in Quarterly Cash Dividend
KIRKLAND, Wash., Feb. 12, 2019 (GLOBE NEWSWIRE) -- Monolithic Power Systems, Inc. (MPS) (Nasdaq: MPWR), a leading company in high performance analog solutions, today announced financial results for the quarter and year ended December 31, 2018. The Company also announced that its Board of Directors has approved an increase in the quarterly cash dividend from $0.30 per share to $0.40 per share. The first quarter dividend of $0.40 per share will be paid on April 15, 2019 to all stockholders of record as of the close of business on March 29, 2019. The results for the quarter ended December 31, 2018 are as follows: Revenue was $153.5 million for the quarter ended December 31, 2018, a 4.0% decrease from $160.0 million for the quarter ended September 30, 2018 and an 18.6 % increase from $129.4 million for the quarter ended December 31, 2017.GAAP gross margin was 55.1% for the quarter ended December 31, 2018, compared with 55.0% for the quarter ended December 31, 2017.Non-GAAP (1) gross margin was 55.6% for the quarter ended December 31, 2018, excluding the impact of $0.5 million for stock-based compensation expense and $0.2 million for the amortization of acquisition-related intangible assets, compared with 55.7% for the quarter ended December 31, 2017, excluding the impact of $0.4 million for stock-based compensation expense and $0.5 million for the amortization of acquisition-related intangible assets.GAAP operating expenses were $51.5 million for the quarter ended December 31, 2018, compared with $46.1 million for the quarter ended December 31, 2017.Non-GAAP (1) operating expenses were $38.7 million for the quarter ended December 31, 2018, excluding $14.3 million for stock-based compensation expense and $1.5 million for deferred compensation plan income, compared with $33.9 million for the quarter ended December 31, 2017, excluding $11.5 million for stock-based compensation expense and $0.8 million for deferred compensation plan expense.GAAP operating income was $33.1 million for the quarter ended December 31, 2018, compared with $25.1 million for the quarter ended December 31, 2017.Non-GAAP (1) operating income was $46.6 million for the quarter ended December 31, 2018, excluding $14.8 million for stock-based compensation expense, $0.2 million for the amortization of acquisition-related intangible assets and $1.5 million for deferred compensation plan income, compared with $38.2 million for the quarter ended December 31, 2017, excluding $11.9 million for stock-based compensation expense, $0.5 million for the amortization of acquisition-related intangible assets and $0.8 million for deferred compensation plan expense.GAAP interest and other expense, net was $0.4 million for the quarter ended December 31, 2018, compared with interest and other income, net of $1.6 million for the quarter ended December 31, 2017.Non-GAAP (1) interest and other income, net was $1.6 million for the quarter ended December 31, 2018, excluding $2.0 million for deferred compensation plan expense, compared with $1.0 million for the quarter ended December 31, 2017, excluding $0.6 million for deferred compensation plan income.GAAP income before income taxes was $32.7 million for the quarter ended December 31, 2018, compared with $26.7 million for the quarter ended December 31, 2017.Non-GAAP (1) income before income taxes was $48.2 million for the quarter ended December 31, 2018, excluding $14.8 million for stock-based compensation expense, $0.2 million for the amortization of acquisition-related intangible assets and $0.5 million for deferred compensation plan expense, compared with $39.2 million for the quarter ended December 31, 2017, excluding $11.9 million for stock-based compensation expense, $0.5 million for the amortization of acquisition-related intangible assets, and $0.1 million for deferred compensation plan expense.GAAP net income was $27.6 million and GAAP earnings per share were $0.61 per diluted share for the quarter ended December 31, 2018. Comparatively, GAAP net income was $12.1 million and GAAP earnings per share were $0.27 per diluted share for the quarter ended December 31, 2017.Non-GAAP (1) net income was $44.6 million and non-GAAP earnings per share were $0.99 per diluted share for the quarter ended December 31, 2018, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan expense and related tax effects, compared with non-GAAP net income of $36.3 million and non-GAAP earnings per share of $0.82 per diluted share for the quarter ended December 31, 2017, excluding stock-based compensation income, amortization of acquisition-related intangible assets, net deferred compensation plan expense and related tax effects. The results for the year ended December 31, 2018 are as follows: Revenue was $582.4 million for the year ended December 31, 2018, a 23.7% increase from $470.9 million for the year ended December 31, 2017.GAAP gross margin was 55.4% for the year ended December 31, 2018, compared with 54.8% for the year ended December 31, 2017.Non-GAAP (1) gross margin was 55.9% for the year ended December 31, 2018, excluding the impact of $1.9 million for stock-based compensation expense and $0.8 million for the amortization of acquisition-related intangible assets, compared with 55.6% for the year ended December 31, 2017, excluding the impact of $1.7 million for stock-based compensation expense and $2.1 million for the amortization of acquisition-related intangible assets.GAAP operating expenses were $209.2 million for the year ended December 31, 2018, compared with $180.9 million for the year ended December 31, 2017.Non-GAAP (1) operating expenses were $151.1 million for the year ended December 31, 2018, excluding $58.7 million for stock-based compensation expense and $0.6 million for deferred compensation plan income, compared with $127.1 million for the year ended December 31, 2017, excluding $51.0 million for stock-based compensation expense and $2.8 million for deferred compensation plan expense.GAAP operating income was $113.5 million for the year ended December 31, 2018, compared with $77.4 million for the year ended December 31, 2017.Non-GAAP (1) operating income was $174.3 million for the year ended December 31, 2018, excluding $60.6 million for stock-based compensation expense, $0.8 million for the amortization of acquisition-related intangible assets and $0.6 million for deferred compensation plan income, compared with $134.9 million for the year ended December 31, 2017, excluding $52.6 million for stock-based compensation expense, $2.1 million for the amortization of acquisition-related intangible assets and $2.8 million for deferred compensation plan expense.GAAP interest and other income, net was $5.0 million for the year ended December 31, 2018, compared with $5.5 million for the year ended December 31, 2017.Non-GAAP (1) interest and other income, net was $6.0 million for the year ended December 31, 2018, excluding $1.0 million for deferred compensation plan expense, compared with $3.0 million for the year ended December 31, 2017, excluding $2.5 million for deferred compensation plan income.GAAP income before income taxes was $118.5 million for the year ended December 31, 2018, compared with $82.9 million for the year ended December 31, 2017.Non-GAAP (1) income before income taxes was $180.4 million for the year ended December 31, 2018, excluding $60.6 million for stock-based compensation expense, $0.8 million for the amortization of acquisition-related intangible assets and $0.4 million for deferred compensation plan expense, compared with $137.9 million for the year ended December 31, 2017, excluding $52.6 million for stock-based compensation expense, $2.1 million for the amortization of acquisition-related intangible assets, and $0.2 million for deferred compensation plan expense.GAAP net income was $105.3 million and GAAP earnings per share were $2.36 per diluted share for the year ended December 31, 2018. Comparatively, GAAP net income was $65.2 million and GAAP earnings per share were $1.50 per diluted share for the year ended December 31, 2017.Non-GAAP (1) net income was $166.8 million and non-GAAP earnings per share were $3.74 per diluted share for the year ended December 31, 2018, excluding stock-based compensation expense, amortization of acquisition-related intangible assets, net deferred compensation plan expense and related tax effects, compared with non-GAAP net income of $127.5 million and non-GAAP earnings per share of $2.93 per diluted share for the year ended December 31, 2017, excluding stock-based compensation income, amortization of acquisition-related intangible assets, net deferred compensation plan expense and related tax effects. The following is a summary of revenue by end market for the periods indicated (in thousands):              Three Months Ended December 31, Year Ended December 31, End Market  2018  2017  2018  2017 Computing and storage $  43,537 $  26,679 $  159,121 $  100,782 Automotive    22,221    15,846    80,078    53,888 Industrial    26,928    16,160    88,472    62,896 Communications    20,147    15,857    70,589    63,606 Consumer    40,664    54,888    184,122    189,757 Total $  153,497 $  129,430 $  582,382 $  470,929           The following is a summary of revenue by product family for the periods indicated (in thousands):              Three Months Ended December 31, Year Ended December 31, Product Family  2018  2017  2018  2017 DC to DC  $  143,021 $  119,161 $  537,512 $  431,861 Lighting Control     10,476    10,269    44,870    39,068 Total  $  153,497 $  129,430 $  582,382 $  470,929           “Despite uncertainty in the macro economy, we expect to continue winning market share in cloud computing, automotive and telecommunication markets. We believe our future is bright," said Michael Hsing, CEO and founder of MPS. Business Outlook The following are MPS’ financial targets for the first quarter ending March 31, 2019: Revenue in the range of $138 million to $144 million. GAAP gross margin between 54.8% and 55.4%. Non-GAAP (1) gross margin between 55.3% and 55.9%, which excludes an estimated impact of stock-based compensation expenses of 0.5%. GAAP research and development (“R&D”) and selling, general and administrative (“SG&A”) expenses between $55 million and $59 million. Non-GAAP (1) R&D and SG&A expenses between $38 million and $40 million, which excludes an estimate of stock-based compensation expenses in the range of $17.0 million to $19.0 million. Total stock-based compensation expense of $17.6 million to $19.6 million. Interest and other income, net, of $1.4 million to $1.6 million before foreign exchange gains or losses. Fully diluted shares outstanding between 44.7 million and 45.7 million. (1) Non-GAAP net income, non-GAAP earnings per share, non-GAAP gross margin, non-GAAP R&D and SG&A expenses, non-GAAP operating expenses, non-GAAP interest and other income, net, non-GAAP operating income and non-GAAP income before taxes differ from net income, earnings per share, gross margin, R&D and SG&A expenses, operating expenses, interest and other income, net, operating income and income before taxes determined in accordance with Generally Accepted Accounting Principles in the United States (GAAP). Non-GAAP net income and non-GAAP earnings per share exclude the effect of stock-based compensation expense, amortization of acquisition-related intangible assets, deferred compensation plan income/expense and related tax effects. Non-GAAP gross margin excludes the effect of stock-based compensation expense and amortization of acquisition-related intangible assets. Non-GAAP operating expenses exclude the effect of stock-based compensation expense and deferred compensation plan income/expense. Non-GAAP interest and other income, net excludes the effect of deferred compensation plan income/expense. Non-GAAP operating income excludes the effect of stock-based compensation expense, amortization of acquisition-related intangible assets and deferred compensation plan income/expense. Non-GAAP income before taxes excludes the effect of stock-based compensation expense, amortization of acquisition-related intangible assets and deferred compensation plan income/expense. Projected non-GAAP gross margin excludes the effect of stock-based compensation expense. Projected non-GAAP R&D and SG&A expenses exclude the effect of stock-based compensation expense. These non-GAAP financial measures are not prepared in accordance with GAAP and should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A schedule reconciling non-GAAP financial measures is included at the end of this press release. MPS utilizes both GAAP and non-GAAP financial measures to assess what it believes to be its core operating performance and to evaluate and manage its internal business and assist in making financial operating decisions. MPS believes that the inclusion of non-GAAP financial measures, together with GAAP measures, provides investors with an alternative presentation useful to investors' understanding of MPS' core operating results and trends. Additionally, MPS believes that the inclusion of non-GAAP measures, together with GAAP measures, provides investors with an additional dimension of comparability to similar companies. However, investors should be aware that non-GAAP financial measures utilized by other companies are not likely to be comparable in most cases to the non-GAAP financial measures used by MPS. Conference CallMPS plans to conduct an investor teleconference covering its financial results at 2:00 p.m. PT / 5:00 p.m. ET, February 12, 2019. To access the conference call and the following replay of the conference call, go to http://ir.monolithicpower.com and click on the webcast link. From this site, you can listen to the teleconference, assuming that your computer system is configured properly. In addition to the webcast replay, which will be archived for all investors for one year on the MPS website, a phone replay will be available for seven days after the live call at (404) 537-3406, code number 8037138. This press release and any other information related to the call will also be posted on the website. Safe Harbor StatementThis press release contains, and statements that will be made during the accompanying teleconference will contain, forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including, among other things, (i) projected revenues, GAAP and non-GAAP gross margin, GAAP and non-GAAP R&D and SG&A expenses, stock-based compensation expenses, interest and other income, and diluted shares outstanding, (ii) our outlook for the long-term prospects of the company, including our performance against our business plan, revenue growth in certain of our market segments, our continued investment into R&D, expected revenue growth, customers' acceptance of our new product offerings, the prospects of our new product development, and our expectations regarding market and industry segment trends and prospects, (iii) our ability to penetrate new markets and expand our market share, (iv) the seasonality of our business, (v) our ability to reduce our expenses, and (vi) statements of the assumptions underlying or relating to any statement described in (i), (ii), (iii), (iv), or (v). These forward-looking statements are not historical facts or guarantees of future performance or events, are based on current expectations, estimates, beliefs, assumptions, goals, and objectives, and involve significant known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from the results expressed by these statements. Readers of this press release and listeners to the accompanying conference call are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ include, but are not limited to, our ability to attract new customers and retain existing customers; acceptance of, or demand for, MPS' products, in particular the new products launched recently, being different than expected; our ability to efficiently and effectively develop new products and receive a return on our R&D expense investment; our ability to increase market share in our targeted markets; competition generally and the increasingly competitive nature of our industry; any market disruptions or interruptions in MPS' schedule of new product development releases; adverse changes in production and testing efficiency of our products; our ability to realize the anticipated benefits of companies and products that we acquire, and our ability to effectively and efficiently integrate these acquired companies and products into our operations; our ability to manage our inventory levels; adverse changes in laws and government regulations, such as tariffs on imports of foreign goods, including in foreign countries where MPS has offices or operations; adverse events arising from orders of governmental entities, including such orders that impact our customers, and adopting of new or amended accounting standards; the effect of catastrophic events; adequate supply of our products from our third-party manufacturing partners; the risks, uncertainties and costs of litigation in which we are involved; the outcome of any upcoming trials, hearings, motions and appeals; the adverse impact on MPS' financial performance if its tax and litigation provisions are inadequate; adverse changes or developments in the semiconductor industry generally, which is cyclical in nature; difficulty in predicting or budgeting for future customer demand and channel inventories, expenses and financial contingencies; the ongoing consolidation of companies in the semiconductor industry; and other important risk factors identified in MPS' Securities and Exchange Commission (SEC) filings, including, but not limited to, our annual report on Form 10-K filed with the SEC on March 1, 2018 and our quarterly report on Form 10-Q filed with the SEC on November 2, 2018. The forward-looking statements in this press release and statements made during the accompanying teleconference represent MPS' projections and current expectations, as of the date hereof, not predictions of actual performance. MPS assumes no obligation to update the information in this press release or in the accompanying conference call. About Monolithic Power SystemsMonolithic Power Systems, Inc. (MPS) provides small, highly energy efficient, easy-to-use power solutions for systems found in industrial applications, telecom infrastructures, cloud computing, automotive, and consumer applications. MPS' mission is to reduce total energy consumption in its customers' systems with green, practical, compact solutions. The company was founded by Michael Hsing in 1997 and is based in the United States. MPS can be contacted through its website at www.monolithicpower.com or its support offices around the world. Monolithic Power Systems, MPS, and the MPS logo are registered trademarks of Monolithic Power Systems, Inc. in the U.S. and trademarked in certain other countries. Contact:Bernie BlegenChief Financial OfficerMonolithic Power Systems, Inc.408-826-0777investors@monolithicpower.com   Monolithic Power Systems, Inc. Condensed Consolidated Balance Sheets (Unaudited, in thousands, except par value)    December 31,   2018   2017 ASSETS    Current assets:    Cash and cash equivalents$  172,704  $  82,759 Short-term investments   204,577     216,331 Accounts receivable, net    55,214     38,037 Inventories   136,384     99,281 Other current assets   11,931     12,762 Total current assets   580,810     449,170 Property and equipment, net   150,001     144,636 Long-term investments   3,241     5,256 Goodwill   6,571     6,571 Acquisition-related intangible assets, net   111     951 Deferred tax assets, net   16,830     15,917 Other long-term assets   35,868     30,068 Total assets$  793,432  $  652,569      LIABILITIES AND STOCKHOLDERS’ EQUITY    Current liabilities:    Accounts payable$  22,678  $  22,813 Accrued compensation and related benefits   18,799     15,597 Accrued liabilities   38,962     27,507 Total current liabilities   80,439     65,917 Income tax liabilities   34,375     31,621 Other long-term liabilities   38,525     33,024 Total liabilities   153,339     130,562 Stockholders' equity:      Common stock and additional paid-in capital, $0.001 par value; shares authorized:       150,000; shares issued and outstanding:  42,505 and 41,614, respectively   450,908     376,586 Retained earnings    194,728     143,608 Accumulated other comprehensive income (loss)   (5,543)    1,813 Total stockholders’ equity   640,093     522,007 Total liabilities and stockholders’ equity$  793,432  $  652,569       Monolithic Power Systems, Inc.Condensed Consolidated Statements of Operations(Unaudited, in thousands, except per share amounts)  Three Months Ended December 31, Year Ended December 31,  2018   2017   2018   2017 Revenue $  153,497  $  129,430  $  582,382  $  470,929 Cost of revenue 
Posted on February 12, 2019, 9:01 pm
BJ’s Restaurants, Inc. Announces Date for Fourth Quarter and Fiscal Year 2018 Earnings Release and Conference Call
HUNTINGTON BEACH, Calif., Feb. 12, 2019 (GLOBE NEWSWIRE) -- BJ’s Restaurants, Inc. (NASDAQ: BJRI) today announced that it will release its fourth quarter and fiscal year 2018 results after the market closes on Thursday, February 21, 2019. The Company will host an investor conference call at 2:00 p.m. (Pacific) that same day. The conference call will be broadcast live over the Internet. To listen to the conference call, please visit the “Investors” page of the Company’s website located at http://www.bjsrestaurants.com several minutes prior to the start of the call to register and download any necessary audio software. An archive of the presentation will be available for 30 days following the call. BJ’s Restaurants, Inc. (“BJ’s”) is a national brand with brewhouse roots and a menu with over 140 offerings where craft matters. BJ’s broad menu has something for everyone: slow-roasted entrees, like prime rib, BJ’s EnLIGHTened Entrees® including Cherry Chipotle Glazed Salmon, signature deep dish pizza and the often imitated, but never replicated world-famous Pizookie® dessert. BJ’s has been a pioneer in the craft brewing world since 1996, and takes pride in serving BJ’s award-winning proprietary handcrafted beers, brewed at its brewing operations in five states and by independent third-party craft brewers. The BJ’s experience offers high-quality ingredients, bold flavors, moderate prices, sincere service and a cool, contemporary atmosphere. Founded in 1978, BJ’s owns and operates 202 casual dining restaurants. All restaurants offer dine-in, take-out, delivery and large party catering. BJ’s restaurants are located in 27 states: Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia and Washington. For more BJ’s information, visit http://www.bjsrestaurants.com.   For further information, please contact Greg Levin of BJ’s Restaurants, Inc. at (714) 500-2400 or JCIR at (212) 835-8500 or at bjri@jcir.com.
Posted on February 12, 2019, 6:00 pm



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