Collaborating Authors

Samsung Electronics' (SSNLF) Management on Q3 2016 Results - Earnings Call Transcript


This decrease was mainly due to the Note 7 issue, despite the increase of sales in the memory and OLED businesses. The gross profit for the quarter was KRW18.4 trillion, about KRW1.7 trillion year-on-year decrease. But the gross profit margin as a percent of sale held steady due to higher gross profits from the sales expansion of premium products in the OLED and consumer electronics businesses. Our SG&A expenditures increased Y-on-Y, mainly due to the recall cost related to Note 7. The operating profit decreased by KRW2.2 trillion, year on year to KRW5.2 trillion, and the operating profit margin declined by 3.4 percentage points to 10.9%. The earnings of the component business decreased marginally year on year due to price correction of DRAM during the first half of this year. However, on Q-on-Q basis, this operating profit increased due to sales expansion of high-end products such as SSD, flexible OLED under the stabilized ASP environment. In the set business, earnings declined in the IM division due to the loss resulting from the Note 7 issue, but the consumer electronics business continued to grow year on year, driven by the sales growth of SUHD TVs and premium home appliance products. In this quarter's strengthening of the Korean won against the major currencies such as U.S. dollar and euro had a negative impact on the operating profit quarter on quarter. We figured it's approximately KRW700 billion effect, mostly on the component business. The non-operating profit was KRW540 billion, mainly from the sales of various investments including investments in ASML. Now I would like to address the business outlook. In the fourth quarter we expect the overall earnings to improve year on year. The mobile business is expected to recover its earnings to the similar level as 4Q last year through solid S7 sales, while earnings in the component business is projected to improve year on year. For the semiconductor business, we expect the earnings to improve due to the sales expansion of the V-NAND-based SSD. For the display business, we expect the earnings to improve also from LCD business recovery year on year.

The Cartel: Collusion Between Germany's Biggest Carmakers

Der Spiegel International

Sometimes big things are hidden behind much smaller things. For instance, one of the biggest secrets of the German automotive industry lies behind the mechanism that opens and closes a convertible top at the push of a button. Daimler, BMW, Audi, Porsche and Volkswagen are engaged in cutthroat competition to produce the best cars. At least that's the story often told by auto company CEOs, economists and politicians. It's a narrative about the beneficial effect of the market economy, which is based on competition among companies.

Schindler Holding's (SHLAF) CEO Thomas Oetterli on Q1 2017 Results - Earnings Call Transcript


Welcome to the Schindler Conference Call on key figures for the First Quarter 2017. I'm here together with Erich Ammann, our CFO we will go into all financial details later during the call. As an introduction to the remark it is fair to say that we continued our successful plan of the last year as we kept our direction towards top-line growth and also higher profitability. Let's have a closer look on our highlights of the first quarter 2017 on slide two. We made further operational and strategic progress. First, we were able to confirm our growth path. Orders received increased by 5.9% in local currencies and also operating revenue rose by 3.8% in local currencies. Operating revenue was therefore within our guidance of 3% to 5% growth in 2017. Our investments into our geographic diversification mainly into our strategic markets were paying off. Second, we also continued to improve our profitability. The EBIT margin increased to 11.5% and even 11.7% before restructuring costs. Net profit stayed flat at CHF179 million due to some temporary booking losses on the ALSO exchangeable bond. Third, we made further progress in our strategic initiatives. We are on track with our globally harmonized modular product platforms, but it is still a long way to go to finalize this, and we were also able to successfully launch our new Internet of Elevator and Escalator Solutions, Schindler Ahead. Yesterday, we launched officially our new Schindler Ahead initiative and I would like to stay a little bit with that topic. As you can see on slide number 3, we will create significant customer benefits in the future. We increased the uptime of our equipment with predictive maintenance, we offer comprehensive insights about all type of information of the equipment for a better building, maintenance and management, and we generate convenience with superior customer service by interactive and personalized passenger experience. On slide four, you find the solution concept of our enhanced service offerings. There are four elements to be mentioned. First the Cube, The Cube enables machine intelligence, all relevant machine data are collected, filtered and transmitted to the cloud platform. The Cube is an intelligent device, not only a transmitter or a gateway, as we can run apps and stream multimedia content and handle emergency calls. The second topic is the cloud platform. The cloud platform creates real time insights.

Cognex (CGNX) Robert J. Willett on Q1 2016 Results - Earnings Call Transcript


Currently at this time, all participants are in a listen-only mode. Later, we will conduct the question-and-answer session and instructions will follow at that time. Also, as a reminder, this conference call is being recorded. I would now like to turn the call over to your host to Richard Morin. Thank you, and good evening, everyone. Earlier today, we issued a news release announcing Cognex's earnings for the first quarter of 2016, and we've also filed our quarterly report on Form 10-Q. For those of you who have not yet seen these materials, both are available on our website at They contain highly detailed information about our financial results. During tonight's call, we may use a non-GAAP financial measure, if we believe it is useful to investors, or if we believe it will help investors better understand our results or business trends. For your reference, you can see a reconciliation of certain items from GAAP to non-GAAP in Exhibit 2 of the earnings release. I'd like to emphasize that any forward-looking statements we made in the earnings release or any that we may make during this call are based upon information that we believe to be true as of today. Things often change and actual results may differ materially from those projected or anticipated. You should refer to the company's SEC filings, including our most recent Form 10-K, for a detailed list of these risk factors. Now, I'll turn the call over to Cognex's Chairman, Dr. Bob Shillman.

Automotive: Accelerating disruption through creative destruction


Thanks to the rise of electric vehicles, digital and new ownership models, the automotive market was already facing unprecedented disruption. As this article explains, the impact of COVID-19 on newcar sales accelerates the need for radical change – now is the time to turbocharge transformation efforts and seize opportunities to thrive in a post-ICE era. Manufacturers (OEMs) had to react immediately to secure their financial liquidity, their operations, the health of their employees, and the value of basic capital assets to guarantee their immediate survival. As the broader crisis stabilizes, they face the pressing question of how to stay competitive and successful during and after the recovery, against the backdrop of a transforming market. Unlike in previous recoveries, when buyers start returning to the market in greater numbers in two to three years, ongoing industry disruption will have advanced sufficiently to change their buying behavior.