BGS
Norway
BGS
Norway

Time filter

Source Type

News Article | May 11, 2017
Site: www.prnewswire.com

The growth in membership coincides with the introduction of traditional "tapping" ceremonies when eligible students are "tapped" or invited to join Beta Gamma Sigma. The ceremonies are carried out by Martin Markowitz, senior associate dean of Rutgers Business School-New Brunswick and Helen Pensavalle and Michelle Tomitz of the undergraduate student services staff. "Becoming the Beta Gamma Sigma Gold Chapter brings recognition to our students and our program excellence," Markowitz said. "The students in our chapter not only demonstrate superior academic skills but also exhibit enthusiasm to help others." Beta Gamma Sigma is open to students whose academic performance puts them in the top 10 percent of their class. Membership in the honor society is considered the highest recognition business students anywhere in the world can receive for their academic achievements. "This is a huge accomplishment for the New Brunswick chapter," Pensavalle said. "It is a reflection of the hard work, devotion and determination put forth by the BGS student board members and all involved." "In the past few years, we find that students are working harder to make the top 10 percent so they can be invited to join. It's a win-win situation," she said. "Our students continue to amaze me. No matter how high you raise the bar, they don't give up, they just reach higher." The Gold Chapter Award reflects the strong membership at Rutgers Business School as well as the community service events performed by students in the chapter. Pensavalle said students perform two community service events a year. In 2016, the chapter held a fund-raiser on Rutgers Day to benefit The Make-a-Wish Foundation for children with life-threatening illnesses. "We have worked to create a scholarly identity among our members by providing ceremonial, community service, social, and school-wide support activities in which our BGS members could participate," Markowitz said. "We are very proud of our students' accomplishments." In addition to being recognized as the top chapter in the world by Beta Gamma Sigma, Rutgers Business School will receive a $1,500 scholarship to be awarded to one chapter member. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/beta-gamma-sigma-honor-society-at-rutgers-wins-gold-chapter-award-300456299.html


News Article | May 10, 2017
Site: www.businesswire.com

CINCINNATI--(BUSINESS WIRE)--Belcan, LLC today announced several new senior hires in its recently launched Belcan Government Services (BGS) group. They include Rodney Hite, Vice President, Growth and Strategy; Clint Green, Vice President, Technology and Innovation, and Bob Kwaja, Vice President, Finance. “We have assembled an impressive senior team right out of the gate, whose deep sector experience will be a great asset to our Government Services clients as we continue to increase our market presence,” said Lee Shabe, President of Belcan Government Services. “I look forward to working with Rodney, Clint, and Bob as we continue to build our government-focused professional services, engineering services, and managed services offerings.” Belcan’s newly formed Government Services segment was established to create a global portfolio of government IT and cyber security offerings, while providing a platform for exceptional customer service. Rodney Hite, Vice President, Growth and Strategy: As the Vice President, Growth and Strategy, Mr. Hite will be responsible for the creation and implementation of the overall growth strategy for professional services and managed service offerings to Federal Government organizations. For more than 20 years, Mr. Hite served as a US Army Special Forces operator with duties including operations management, military intelligence, and medical practitioner in areas such as Bosnia-Herzegovina, Afghanistan, and Iraq. Following his retirement from the military, Mr. Hite has held various positions in military-related private sector companies. Most recently, he was Vice President of Analytic Solutions for the United States Special Operations Command (USSOCOM). He previously was a Planning and Operations Manager on an irregular warfare support program in support of the Joint IED Defeat Organization (JIEDDO) in counter-terrorist missions. He also served as Vice President of Products, Services and Support for Saffron Technology, a complex analytics software organization, as well as Operations and Integration Manager at Data Tactics for the Tactical Cloud Integration Lab for the Army. Mr. Hite is a graduate of Liberty University as well as multiple military leadership courses. Clint Green, Vice President, Technology and Innovation: As Vice President, Technology and Innovation, Mr. Green will be responsible for providing the technical roadmap for BGS in support of Federal Government customers. Mr. Green has more than 20 years of experience in the technology industry, supporting companies ranging from OEMs to large services integrators (LSIs) to start-ups. He was most recently the director of Advanced Analytic Strategies and Development at ViON. He also previously was Vice President of Global Services at Koverse, a large data and analytics start-up; Vice President and Chief Technology Officer (CTO) at L-3 National Security Solutions, and CTO at Ascolta. Bob Kwaja, Vice President, Finance: As Vice President, Finance, Mr. Kwaja will be responsible for managing and overseeing all finance, contracts, pricing, procurement, and accounting functions, as well as M&A activities for BGS. Mr. Kwaja brings more than 10 years of investment banking, corporate finance, and operational experience in the Aerospace, Defense, and Government (ADG) sector. He previously held the position of Senior Corporate Financial Analyst at Schafer, where he was involved in several of the company’s acquisitions, divestitures, and refinancing activities. Additionally, Mr. Kwaja was Vice President at Bluestone Capital Partners, a boutique investment bank exclusively focused on ADG. Mr. Kwaja received a Bachelor of Science degree in finance from the Robert H. Smith School of Business, University of Maryland. Belcan is a global supplier of engineering, technical recruiting, and IT services to customers in the aerospace, defense, industrial, and government sectors. Belcan engineers better outcomes through adaptive and integrated services—from jet engines, airframe, and avionics to heavy vehicles, chemical processing, and cybersecurity. Belcan takes a partnering approach to provide customer-driven solutions that are flexible, scalable, and cost-effective. Belcan’s unique capabilities have led to continuous growth and success for nearly 60 years. For more information, please visit www.belcan.com


News Article | May 4, 2017
Site: phys.org

Dubbed FIONA, the device is designed to measure the mass numbers of individual atoms of superheavy elements, which have higher masses than uranium. "Once we have determined those mass numbers, we will use FIONA to learn about the shape and structure of heavy nuclei, guide the search for new elements, and to give us better measurements for nuclear fission and related processes in nuclear physics and nuclear chemistry research," said Kenneth Gregorich, a senior scientist in Berkeley Lab's Nuclear Science Division who has been involved in building and testing FIONA. FIONA's full name is "For the Identification Of Nuclide A." The "A" is a scientific symbol representing the mass number—the sum of protons, which are positively charged, and neutrons, which do not have an electric charge— in the nucleus of an atom. The proton count, also known as the atomic number, is unique for each element and is the basis for the arrangement of elements in the periodic table. FIONA builds on a long history of expertise in heavy element discoveries and nuclear physics research at Berkeley Lab. The Lab's scientists have been involved in the discovery of 16 elements and also various forms of elements, known as isotopes, which have different numbers of neutrons. Nuclear physicists have used the known masses of radioactive decay "daughter atoms" as a framework for determining the masses for these heavier "parent" elements. Previous experiments have also helped to home in on the masses of some of the superheavy elements. But determining the mass number of some of the heaviest elements has remained out of reach because it is challenging to produce isolated atoms and to measure them before they rapidly decay. FIONA's measurements are expected to provide a better fundamental understanding of the makeup of these manufactured superheavy atomic nuclei. "We will be exploring the limits of nuclear stability, answering basic questions such as how many protons you can put in a nucleus," Gregorich said. A holy grail in this field is to reach the so-called "island of stability," an as-yet unexplored realm in the chart of nuclei where human-made isotopes are theorized to be long-lived. "We will perhaps be probing the edge of this 'island'—informing theories that predict such things so they can be refined," Gregorich said. FIONA was installed in November 2016 at Berkeley Lab's 88-Inch Cyclotron, which produces intense particle beams for nuclear physics experiments and to test the radiation-hardness of computer chips for use in satellites, and has since undergone a range of tests to prepare it for a first round of experiments this summer. FIONA is an enhancement to a long-running machine called the Berkeley Gas-filled Separator (BGS) that separates atoms of superheavy elements from other types of charged particles. "The separator's job is to separate the heavy elements of interest from the beam and other unwanted reaction products," Gregorich said, and FIONA is designed to move the desired atoms away from this "noisy" environment and to quickly measure them within about 10 thousandths of a second. This is important because the human-made superheavy elements discovered so far have very short half-lives, in some cases decaying down to lighter elements on scales measured in thousandths of a second. FIONA components include a new shielding wall that is designed to reduce background noise from other charged particles, a specialized trapping mechanism for atoms, and a sensitive silicon-based detector array that can measure the energy, position, and timing of the decay of radioactive atoms. Several components of FIONA were constructed under contract with Argonne National Laboratory, and the mass analyzer was designed and built at Berkeley Lab. "The design for FIONA is practical, flexible, and unique," Gregorich said. "We were looking at different ways to perform mass separation, and everything else was either more expensive or more difficult." The initial beams that will be produced at the 88-Inch Cyclotron for the early FIONA experiments will use an isotope of calcium that is accelerated to strike a target containing a heavy element—typically human-made americium, which is heavier than plutonium. This bombardment fuses some of the atomic nuclei to produce even heavier atoms. Jackie Gates, a staff scientist in the Nuclear Science Division and a leader of the FIONA team, said, "Some other devices have a much higher mass resolution but a lower efficiency—FIONA will have the highest efficiency." This higher efficiency means that FIONA can isolate and measure more atoms of a specific superheavy element in a given time than comparable devices. Even so, the creation of the heaviest atoms yet discovered is challenging: Of all the particles pouring through the separator, perhaps one in a quintillion (one followed by 18 zeros) reaching the experiment will form a superheavy element of interest. That translates into the production of possibly one atom of interest per day, and several detections will be needed to determine the mass number, Gates said. After separation in the Berkeley Gas-filled Separator, atoms of interest are trapped, bunched, and cooled in a device known as a radiofrequency quadrupole trap. They are then sent through the FIONA mass separator, which contains crossed electric and magnetic fields. In the separator, the ions take on a looping trajectory, sending them to the detector with positions determined by their mass-to-charge ratio. The position in the detector at which the superheavy element radioactive decay is detected gives the mass number. FIONA's commissioning should wrap up this spring, Gates said, and one of the headline experiments for the new device will be to study decay processes associated with element 115, recently named moscovium (its periodic table symbol is "Mc"). "The Berkeley Gas-filled Separator gave us 20 years of science," Gates said, "and now we are looking at extending this another 10 to 20 years with FIONA." Explore further: Isotope program provides target material for the discovery of superheavy elements


LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global polymer-based solubility enhancement excipients market for OSDF to grow at a CAGR of almost 17% during the forecast period, according to their latest report. The research study covers the present scenario and growth prospects of the global polymer-based solubility enhancement excipients market for OSDF for 2017-2021. The report segments the market based on type, which includes copovidone, HPMC, Polymethacrylates, HPMCAS, PVP, HPC, and Polyvinyl caprolactam-polyvinyl acetate-polyethylene glycol copolymer. The global polymer-based solubility enhancement excipients market for OSDF is expected to grow at a rapid rate following the global receptivity for drug-solubility enhancing techniques. The pharmaceutical industry is on the ascendant, catering to the global demand for solubility enhancement polymer-based excipients to synchronize with APIs. Looking for more information on this market? Request a free sample report Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Technavio chemicals and materials analysts highlight the following three factors that are contributing to the growth of the global polymer-based solubility enhancement excipients market for OSDF: The global polymer-based solubility enhancement excipients market for OSDF will grow at a CAGR of approximately 17% during the forecast period, which reflects the pipeline of drug entities under development. Further, the fact that poor solubility is one of the most common attributes of modern day drug entities gives the global polymer-based solubility enhancement excipients market for OSDF an opportunity to capitalize on the concern. Chandrakumar Badala Jaganathan, a lead plastics, polymers, and elastomers research analyst at Technavio, says, “Many new drugs are in the discovery and enhancement phase, combined with the currently available drugs, are categorized under BGS CLASS II and IV. This categorization reveals that low-solubility drugs constitute 76%-82% of total drugs in the pharmaceutical industry.” The increasing number of aging population in every country has contributed significantly to the pharmaceutical industry. Globally, the proportion of older persons in contrast with relatively young individuals is growing faster, thereby accentuating the need for the pharmaceutical sector to stay one step ahead in its approach. “The need to improve the longevity of the cohort of people will require potent drug formulations, which will propel the growth of the global polymer-based solubility enhancement excipients market for OSDF during the forecast period,” adds Chandrakumar. Solid dispersion is an approach to enhance the solubility of poorly soluble drugs as the solubility of drug molecules ultimately decides the therapeutic influence of a drug. The use of this technology accounted for over 82% of the market revenue in 2016. Further, continuous advancements in the field of technology pertaining to polymer-based solubility enhancement excipients give the industry a strong driving factor to capitalize on the opportunities that the industry offers. The improvement in dissolution and bioavailability of drugs using solid dispersion technology makes the receptivity of the technology a driver for the global polymer-based solubility enhancement excipients market for OSDF. Furthermore, the use of spray drying and hot-melt extrusion technologies has played a part in driving the industry. Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like metals and minerals, specialty chemicals, and olefins. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently. Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at media@technavio.com.


DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Argentina Market Report for Dental Bone Graft Substitutes 2017 - MedCore" report to their offering. Though autografts represent a prospective bone graft material option, monetizing their worth is complicated as autograft materials are not purchased. Instead, the autograft market is evaluated separately from the various alternatives that have a price attached to their worth. The xenograft market is dominated by a number of local companies, providing inexpensive products than those offered by international brands such as Geistlich. With inexpensive options available in a cost-sensitive country, the xenograft market is set to continuing growing over the forecast period. The total market is expected to grow primarily driven by the increasing number of dental implant treatments and an increasing acceptance of bone grafting. The growth of the dental bone grafting market is very closely linked to the growth of the dental implant industry. As the economy continues to recover, the dental BGS market growth will increase as a greater number of patients who had previously postponed dental treatments receive the procedure. Dental bone grafting procedures are typically associated with dental implants to restore the edentulous area of a missing tooth. Dental implants require sufficient bone tissue in the jawbone to support the implant and ensure proper integration into the mouth. If a patient has endured being toothless (edentulism) for a prolonged period, they run a high probability of having insufficient bone tissue. In this case, they ideally required a bone graft in order to maximize the outcome of a dental implant surgery. The bone grafting market is segmented on the basis of the material's origins. Dental bone graft procedures include autografts, allografts, xenografts and synthetics. For more information about this report visit http://www.researchandmarkets.com/research/2g3kqf/argentina_market


News Article | April 17, 2017
Site: www.businesswire.com

PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE:BGS) announced today that it has scheduled a conference call to discuss the Company’s first quarter 2017 financial results on Thursday, May 4, 2017 at 4:30 p.m. ET. Hosting the call will be Robert C. Cantwell, Chief Executive Officer and Amy J. Chiovari, Interim Chief Financial Officer. The call will be webcast live from B&G Foods’ website at www.bgfoods.com under “Investor Relations—Company Overview.” The call can also be accessed live over the phone by dialing (877) 440-5804 for U.S. callers or (719) 325-4804 for international callers. A replay of the call will be available two hours after the call and can be accessed by dialing (844) 512-2921 or (412) 317-6671 for international callers; the password is 3906951. The replay will be available from May 4, 2017 through May 18, 2017. Investors may also access a web-based replay of the call at the Investor Relations section of B&G Foods’ website, www.bgfoods.com. The Company intends to issue a press release with the first quarter 2017 financial results via Business Wire after the market close on Thursday, May 4, 2017. B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emeril’s, Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc, Las Palmas, Le Sueur, MacDonald’s, Mama Mary’s, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Spice Islands, Spring Tree, Sugar Twin, Tone’s, Trappey’s, TrueNorth, Underwood, Vermont Maid, Victoria, Weber and Wright’s. B&G Foods also sells and distributes Static Guard, a household product brand.


News Article | April 21, 2017
Site: www.businesswire.com

DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Brazil Market Report for Dental Bone Graft Substitutes 2017 - MedCore" report to their offering. Though autografts represent a prospective bone graft material option, monetizing their worth is complicated as autograft materials are not purchased. Instead, the autograft market is evaluated separately from the various alternatives that have a price attached to their worth. The xenograft market is dominated by a number of local companies, providing less expensive products than those offered by international brands such as Geistlich. As the economy continues to recover, the dental BGS market growth will increase as a greater number of patients who had previously postponed dental treatments receive the procedure. Dental bone grafting procedures are typically associated with dental implants to restore the edentulous area of a missing tooth. Dental implants require sufficient bone tissue in the jawbone to support the implant and ensure proper integration into the mouth. If a patient has endured being toothless (edentulism) for a prolonged period, they run a high probability of having insufficient bone tissue. In this case, they ideally required a bone graft in order to maximize the outcome of a dental implant surgery. The bone grafting market is segmented on the basis of the material's origins. Dental bone graft procedures include autografts, allografts, xenografts and synthetics. For more information about this report visit http://www.researchandmarkets.com/research/c9s4xs/brazil_market


The recent program returned a large number of high grade intercepts which are now being incorporated into an updated Mineral Resource Estimate which is anticipated to be released in the third quarter. Highlights from the program included: "We are very pleased with the large number of high grade results over significant widths reported as part of the infill and extensional drilling campaign at Bagassi South", commented John Dorward, President and CEO of Roxgold. "The consistency of mineralized intervals on the QV1 and QV Prime structures is encouraging as we prepare an updated mineral resource estimate in the third quarter with a feasibility study for Bagassi South in the fourth quarter". The latest drilling program totalled 29,160 meters over 134 holes at Bagassi South with 117 holes drilled along the QV1 structure and 17 holes drilled along the QV Prime structure ("QV'" or "QV Prime"). The program was primarily designed to infill the QV1 structure with sufficient additional intercepts to support the conversion of the existing inferred Mineral Resource Estimate ("MRE") to indicated status, ahead of its potential inclusion in a feasibility study which is currently scheduled to be completed in the fourth quarter of 2017. The current MRE at Bagassi South features an inferred MRE of 563,000 tonnes at 12.14 gpt for 220,000 ounces of gold (please see press release dated April 18, 2017). A secondary goal of the program was to test the extent of the recently identified mineralized shoot along the QV' structure which is located approximately 130 meters to the north east of QV1. The QV' structure accounts for approximately 10,000 ounces of the global Bagassi South inferred MRE and the structure remains open down plunge along the contact between the basalt flows and the Bagassi granite. The drilling results from QV1 confirm the continuity of mineralization from near surface to a vertical depth of approximately 425 meters where the structure was intersected by hole YRM-17-DD-234, the deepest hole drilled along the QV1 structure. Significant widths of over 13 meters were encountered with numerous high grade gold results including 25.0 gpt Au over 13.4m which included 595 gpt over 0.4m in diamond drill hole YRM-17-DD-BGS-164 and 156.3 gpt Au over 1.5m including 220.0 gpt Au over 1.1m in diamond drill hole YRM-17-DD-BGS-199. Regionally, the Bagassi South structures are located in the footwall of the Yaramoko shear zone and hosted within the Bagassi granite which are similar geological and structural settings as those observed at 55 Zone. For a longitudinal section of today's QV1 results please refer to the following link (Figure 1) Highlights of the QV1 results included in this release are outlined in Table 1 below. For a full listing of results from the recent program please refer to the following link (Table 1) The drilling at QV' was designed to better define and extend the mineralized shoot down plunge to follow up previous high grade results including 12.5 gpt Au over 3.7m in diamond drill hole YRM-14-DD-BGS-051 and 36.7 gpt Au over 4.5m in hole YRM-14-DD-BGS-056 (see press release dated September 8, 2014). A total of 17 holes were drilled along the QV Prime structure in the 2017 program accounting for approximately 5,150 meters of the 29,160 meters Bagassi South drilling program. The mineralized shoot along the QV Prime structure is located along the same lithological contact controlling the QV1 mineralization. For a longitudinal section of today's QV' results please refer to the following link (Figure 2) Highlights of the QV' results included in this release are outlined in Table 2 below. For a full listing of results from the recent program please refer to the following link (Table 2) Exploration activities are expected to increase in 2017 to support the Company's organic growth strategy with an approved budget of $8 million. At 55 Zone, a further round of drilling, totaling approximately 11,000 meters, will be undertaken in the second and third quarters. This program will primarily target resource growth at depth, below and west of the Q4 2016 drilling program. A ground geophysical survey campaign commenced in early February and will consist of two pole-dipole gradient surveys and two conventional induced-polarization ("IP") surveys. The largest pole-dipole survey will be covering an area along the Yaramoko Shear Zone that includes both the 55 Zone and Bagassi South deposits and will aim to outline the western extension of the gold hosting structures as well as sub-parallel structures between the two deposits and south of the Bagassi South QV1 structure. The first conventional IP survey will be conducted over the Boni Shear Zone, a regional structure which hosts Semafo's Siou deposit to the north of Yaramoko. The second conventional IP survey will be conducted over a granite-mafic volcanic contact located west of 55 Zone and Bagassi South that exhibits similar structural settings as the Yaramoko Shear Zone. The ground geophysical survey anomalies will be followed-up by Reverse Circulation ("RC") and Diamond Drilling ("DD") programs in the third and fourth quarter of 2017 following the completion of the 55 Zone and Bagassi South drilling programs. Yan Bourassa, P.Geo, VP Geology for Roxgold Inc., a Qualified Person within the meaning of National Instrument 43-101, has verified and approved the technical disclosure contained in this press release. This includes the QA/QC, sampling, analytical and test data underlying the information. For more information on the Company's QA/QC and sampling procedures, please refer to the Company's AIF dated April 5, 2016. The holes were drilled with NQ2 sized diamond drill bits for drill holes reported in this press release. Company personnel are located at the drill site. Employees of Roxgold conducted all logging and sampling. The core was logged, marked up for sampling using standard lengths of two metres outside of the "zone" and adjusted to lithological contacts up to one metre within the "zone". Samples are then cut into equal halves using a diamond saw. One half of the core was left in the original core box and stored in a secure location at the Roxgold camp within the Yaramoko area. The other half was sampled, catalogued and placed into sealed bags and securely stored at the site until it was shipped to Activation Laboratories located in Ouagadougou (the "Lab"). The core was dried and crushed by the Lab and a 150 gram pulp was prepared from the coarse crushed material. The Lab then conducted routine gold analysis using a 50 gram charge and fire assay with an atomic absorption finish. Samples returning over 5.0 g/t were also analysed by gravimetric analysis. Quality control procedures included the systematic insertion of blanks, duplicates and sample standards into the sample stream. In addition, the Lab inserted its own quality control samples. Roxgold is a gold mining company with its key asset, the high grade Yaramoko Gold Mine, located in the Houndé greenstone region of Burkina Faso, West Africa. Roxgold trades on the TSX under the symbol ROXG and as part of the Nasdaq International Designation program with the symbol OTC: ROGFF. This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws ("forward-looking statements"). Such forward-looking statements include, without limitation: statements with respect to Mineral Reserves and Mineral Resource estimates, future production and life of mine estimates, future capital and operating costs and expansion and development plans, These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the estimation of Mineral Resources and Mineral Reserves, the realization of resource estimates and reserve estimates, gold metal prices, the timing and amount of future exploration and development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs, the availability of necessary financing and materials to continue to explore and develop the Yaramoko Gold Project in the short and long-term, the progress of exploration and development activities, the receipt of necessary regulatory approvals, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: changes in market conditions, unsuccessful exploration results, possibility of project cost overruns or unanticipated costs and expenses, changes in the costs and timing of the development of new deposits, inaccurate reserve and resource estimates, changes in the price of gold, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.


News Article | February 21, 2017
Site: www.businesswire.com

PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE:BGS) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.465 per share of common stock. The dividend is payable on May 1, 2017 to shareholders of record as of March 31, 2017. At the closing market price of the common stock on February 21, 2017, the current dividend rate represents an annualized yield of 3.9%. This is the 50th consecutive quarterly dividend declared by the Board of Directors since B&G Foods’ initial public offering in October 2004. B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emeril’s, Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc, Las Palmas, Le Sueur, MacDonald’s, Mama Mary’s, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Spice Islands, Spring Tree, Sugar Twin, Tone’s, Trappey’s, TrueNorth, Underwood, Vermont Maid, Victoria, Weber and Wright’s. B&G Foods also sells and distributes Static Guard, a household product brand.


News Article | February 23, 2017
Site: www.businesswire.com

PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE:BGS) today announced financial results for the fourth quarter and full year 2016. Highlights (vs. prior year quarter and prior full year where applicable): “In 2016, much of our year was focused on the Green Giant integration, including the relaunch of the iconic Green Giant brand with a new and exciting marketing campaign and the introduction of several new and innovative products that have been a hit with consumers. We also continued to execute a key tenet of our growth strategy by completing two acquisitions in the fourth quarter; the spices & seasonings business of ACH Food Companies and the Victoria brand. Our base business, however, was not immune to the top-line challenges affecting our industry,” stated Robert C. Cantwell, President and Chief Executive Officer of B&G Foods. * Please see “About Non-GAAP Financial Measures and Items Affecting Comparability” below for the definition of the non-GAAP financial measures “adjusted net income,” “adjusted diluted earnings per share,” “base business net sales,” “EBITDA” and “adjusted EBITDA,” as well as information concerning certain items affecting comparability and reconciliations of the non-GAAP terms to the most comparable GAAP financial measures. “In just over two years we have nearly doubled the size of the B&G Foods, and with rapid growth comes significant challenges but also significant opportunities. For 2017 our top priorities are to deliver superior customer service, stabilize our core portfolio of brands through strategic and tactical marketing support, continue to harness the power and positive momentum of the Green Giant brand to drive top-line growth, and successfully integrate our two most recent acquisitions. We have a significant amount of work ahead of us in 2017, but my confidence in our team and our ability to deliver results and achieve our goals is as strong as ever. I look forward to another successful year for B&G Foods and our stockholders.” Financial Results for the Fourth Quarter of 2016 Net sales increased $71.4 million, or 20.8%, to $413.7 million for the fourth quarter of 2016 from $342.3 million for the fourth quarter of 2015. An additional month of net sales of Green Giant, acquired on November 2, 2015, contributed $46.5 million to net sales for the quarter. In addition, net sales of the spices & seasonings business, acquired on November 21, 2016, and net sales of Victoria, acquired on December 2, 2016, contributed $28.2 million and $3.2 million, respectively, to the Company’s net sales for the quarter. Base business net sales for the fourth quarter of 2016 decreased $5.6 million, or 1.6%, to $335.7 million from $341.3 million for the fourth quarter of 2015. The $5.6 million decrease was attributable to a decrease in unit volume of $2.2 million, or 0.6%, and a decrease in net pricing of $3.6 million, or 1.1%, partially offset by the favorable impact of currency fluctuations on foreign sales of approximately $0.2 million, or 0.1%. A little more than half of the Company’s base business net sales decline during the fourth quarter was attributable to a challenging competitive environment for its syrup brands, which in the aggregate declined $3.1 million for the quarter. The decline was primarily attributable to pure maple syrup price deflation due to the strength of the U.S. dollar relative to the Canadian dollar, which has resulted in increased competition in the maple syrup category and contractually mandated price reductions with certain of the Company’s foodservice customers. Gross profit increased $18.3 million, or 20.7%, to $106.9 million for the fourth quarter of 2016 from $88.6 million for the fourth quarter of 2015. Gross profit expressed as a percentage of net sales decreased to 25.8% in the fourth quarter of 2016 from 25.9% in the fourth quarter of 2015, a decrease of 0.1 percentage points. Selling, general and administrative expenses increased $22.2 million, or 60.6%, to $58.8 million for the fourth quarter of 2016 from $36.6 million for the fourth quarter of 2015, primarily due to the Green Giant acquisition. The increase was attributable to increases in consumer marketing of $19.5 million, warehousing expenses of $4.1 million, acquisition-related expenses of $2.7 million, partially offset by decreases in general and administrative expenses of $3.6 million (primarily related to the timing of accruals for performance based compensation), and selling expenses of $0.5 million (which includes a $1.0 million decrease in salesperson compensation partially offset by a $0.5 million increase in brokerage expenses). Expressed as a percentage of net sales, selling, general and administrative expenses increased 3.5 percentage points to 14.2% for the fourth quarter of 2016 from 10.7% for the fourth quarter of 2015. Net interest expense increased $1.6 million, or 9.6%, to $18.9 million for the fourth quarter of 2016 from $17.3 million in the fourth quarter of 2015. The increase was primarily attributable to additional indebtedness outstanding during the fourth quarter of 2016 as compared to the fourth quarter of 2015 as a result of the Green Giant acquisition, the spices & seasonings acquisition and the Victoria acquisition. The Company’s reported net income under U.S. generally accepted accounting principles (GAAP) was $13.6 million, or $0.20 per diluted share, for the fourth quarter of 2016, as compared to reported net income of $11.0 million, or $0.19 per diluted share, for the fourth quarter of 2015. The Company’s adjusted net income for the fourth quarter of 2016, which excludes the after-tax impact of the amortization of acquisition-related inventory step-up and other acquisition-related expenses was $19.4 million, or $0.29 per adjusted diluted share. The Company’s adjusted net income for the fourth quarter of 2015, which excludes an acquisition-related adjustment to deferred taxes, the after-tax impact of the amortization of acquisition-related inventory step-up, other acquisition-related expenses and distribution restructuring expenses, was $25.0 million, or $0.43 per adjusted diluted share. For the fourth quarter of 2016, adjusted EBITDA (which excludes the impact of the amortization of acquisition-related inventory step-up and other acquisition-related expenses), decreased 7.4% to $62.4 million from $67.4 million for the fourth quarter of 2015. Net sales increased $424.9 million, or 44.0%, to $1,391.3 million for fiscal 2016 from $966.4 million for fiscal 2015. An additional ten months of net sales of Green Giant, acquired on November 2, 2015, and an additional almost six months of net sales of Mama Mary’s, acquired on July 10, 2015, contributed $397.6 million and $19.4 million, respectively, to net sales for fiscal 2016. In addition, net sales of the spices & seasonings business, acquired on November 21, 2016, and net sales of Victoria, acquired on December 2, 2016, contributed $28.2 million and $3.2 million, respectively, to the overall net sales increase. Base business net sales for fiscal 2016 decreased $20.0 million, or 2.1%, to $942.3 million from $962.3 million for fiscal 2015. The $20.0 million decrease was attributable to a decrease in unit volume of $13.5 million, or 1.4%, a decrease in net pricing of $6.0 million, or 0.6%, and the negative impact of currency fluctuations on foreign sales of approximately $0.5 million, or 0.1%. A primary driver of the decline in base business net sales for fiscal 2016 was the Company’s syrup business. The Company’s syrup brands have been experiencing a challenging competitive environment and the net sales of those brands declined in the aggregate $7.7 million for the year. The decline was primarily attributable to maple syrup price deflation due to the strength of the U.S. dollar relative to the Canadian dollar, which has resulted in increased competition in the maple syrup category and contractually mandated price reductions with certain of the Company’s foodservice customers. Another significant factor in the decline in base business net sales for fiscal 2016 was the TrueNorth brand, which declined $6.4 million, or 33.9%. The TrueNorth net sales decline was primarily the result of historically high almond prices in 2015. In response to increased almond costs, the Company increased the selling price for TrueNorth products, which had a negative impact on consumer demand. Although the Company has rolled back pricing as almond prices have begun to return to historical norms, consumer demand has not returned to prior levels. Base business net sales were also negatively impacted by net sales of the Company’s Ortega products, which decreased $3.7 million, or 2.6%. A portion of the decrease was attributable to the effects of the product recall we announced in November 2014, which caused an increase in net sales of Ortega in fiscal 2015 due to customers restocking inventory of products affected by the recall, partially offset by $1.2 million of customer refunds related to the recall. $1.5 million of the decrease in net sales of Ortega was due to a net pricing decrease in fiscal 2016. Gross profit increased $158.4 million, or 54.7%, to $448.0 million for fiscal 2016 from $289.6 million for fiscal 2015. Gross profit expressed as a percentage of net sales increased to 32.2% in fiscal 2016 from 30.0% in fiscal 2015, an increase of 2.2 percentage points. The increase in gross profit percentage was primarily driven by the acquisition of Green Giant. Gross profit percentage was also positively impacted by decreased costs for commodities, packaging and distribution for the base business and improved product mix, which was partially offset by the unfavorable impact the decrease in base business sales volume had on cost absorption, a net reduction in base business pricing, and the impact of the write-off of Rickland Orchards inventory in connection with the Company’s decision to discontinue the brand. Selling, general and administrative expenses increased $68.9 million, or 65.0%, to $174.8 million for fiscal 2016 from $105.9 million for fiscal 2015, primarily due to the Green Giant acquisition. Acquisition-related expenses and distribution restructuring expenses increased $10.0 million for the year. The remaining $58.9 million of the increase was attributable to increases in consumer marketing of $41.6 million, selling expenses of $8.7 million (which includes a $7.5 million increase in brokerage expenses and a $1.2 million increase in salesperson compensation), warehousing expenses of $7.4 million and general and administrative expenses of $1.2 million (primarily related to compensation). Expressed as a percentage of net sales, selling, general and administrative expenses increased 1.5 percentage points to 12.5% for fiscal 2016 from 11.0% for fiscal 2015. Net interest expense increased $23.4 million, or 45.6%, to $74.5 million for fiscal 2016 from $51.1 million in fiscal 2015. The increase was primarily attributable to additional indebtedness outstanding during fiscal 2016 as compared to fiscal 2015 as a result of the Green Giant acquisition, the spices & seasonings acquisition and the Victoria acquisition. The Company’s reported net income under GAAP was $109.4 million, or $1.73 per diluted share, for fiscal 2016, as compared to reported net income of $69.1 million, or $1.22 per diluted share, for fiscal 2015. The Company’s adjusted net income for fiscal 2016, which excludes an intangible asset impairment-related adjustment to deferred taxes resulting from the Company’s decision to discontinue the Rickland Orchards brand, the after-tax impact of the non-cash impairment charge and the related loss on disposal of inventory, loss on extinguishment of debt, the amortization of acquisition-related inventory step-up, other acquisition-related expenses and distribution restructuring expenses, was $131.1 million, or $2.07 per adjusted diluted share. The Company’s adjusted net income for fiscal 2015, which excludes the acquisition-related adjustment to deferred taxes and the after-tax impact of the amortization of acquisition-related inventory step-up, other acquisition-related expenses and distribution restructuring expenses and the loss on product recall, was $86.8 million, or $1.53 per adjusted diluted share. For fiscal 2016, adjusted EBITDA (which excludes the impact of the amortization of acquisition-related inventory step-up, the non-cash intangible asset impairment charge and related loss on disposal of inventory, loss on product recall and other acquisition-related and distribution restructuring expenses), increased 47.9% to $322.0 million from $217.8 million for full year 2015. For full year 2017, net sales is expected to be approximately $1.64 billion to $1.68 billion, consumer marketing spending is expected to be approximately $75.0 million to $80.0 million, with approximately 35% of the total spending occurring in the first quarter of 2017, adjusted EBITDA is expected to be approximately $360.0 million to $375.0 million and adjusted diluted earnings per share is expected to be $2.13 to $2.27. B&G Foods provides earnings guidance only on a non-GAAP basis and does not provide a reconciliation of the Company’s forward-looking adjusted EBITDA and adjusted diluted earnings per share guidance to the most directly comparable GAAP financial measures because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including adjustments that could be made for deferred taxes; loss on extinguishment of debt; acquisition-related expenses, gains and losses; intangible asset impairment charges and related asset write-offs; loss on product recalls; restructuring expenses; and other charges reflected in our reconciliation of historic non-GAAP financial measures, the amounts of which, based on past experience, could be material. For additional information regarding B&G Foods’ non-GAAP financial measures, see “About Non-GAAP Financial Measures and Items Affecting Comparability” below. B&G Foods will hold a conference call at 4:30 p.m. ET today, February 23, 2017. The call will be webcast live from B&G Foods’ website at www.bgfoods.com under “Investor Relations—Company Overview.” The call can also be accessed live over the phone by dialing (888) 282-4056 for U.S. callers or (913) 312-0850 for international callers. A replay of the call will be available two hours after the call and can be accessed by dialing (844) 512-2921 for U.S. callers or (412) 317-6671 for international callers; the password is 6779173. The replay will be available from February 23, 2017 through March 9, 2017. Investors may also access a web-based replay of the call at the Investor Relations section of B&G Foods’ website, www.bgfoods.com. About Non-GAAP Financial Measures and Items Affecting Comparability “Adjusted net income,” “adjusted diluted earnings per share,” “base business net sales” (net sales without the impact of acquisitions until the acquisitions are included in both comparable periods and without the impact of discontinued brands), “EBITDA” (net income before net interest expense, income taxes, depreciation and amortization and loss on extinguishment of debt), and “adjusted EBITDA” (EBITDA as adjusted for cash and non-cash acquisition-related expenses, gains and losses (which may include third party fees and expenses, integration, restructuring and consolidation expenses and amortization of acquired inventory fair value step-up); intangible asset impairment charges and related asset write-offs; loss on product recalls, including customer refunds, selling, general and administrative expenses and the impact on cost of sales; and distribution restructuring expenses) are “non-GAAP financial measures.” A non-GAAP financial measure is a numerical measure of financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in B&G Foods’ consolidated balance sheets and related consolidated statements of operations, comprehensive income, changes in stockholders’ equity and cash flows. Non-GAAP financial measures should not be considered in isolation or as a substitute for the most directly comparable GAAP measures. The Company’s non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The Company uses “adjusted net income,” “adjusted diluted earnings per share,” and “base business net sales,” which are calculated as reported net income, reported diluted earnings per share and reported net sales adjusted for certain items that affect comparability. These non-GAAP financial measures reflect adjustments to reported net income, diluted earnings per share and net sales to eliminate the items identified above. This information is provided in order to allow investors to make meaningful comparisons of the Company’s operating performance between periods and to view the Company’s business from the same perspective as the Company’s management. Because the Company cannot predict the timing and amount of these items, management does not consider these items when evaluating the Company’s performance or when making decisions regarding allocation of resources. Additional information regarding EBITDA and adjusted EBITDA, and a reconciliation of EBITDA and adjusted EBITDA to net income and to net cash provided by operating activities is included below for the fourth quarter and full year of 2016 and 2015, along with the components of EBITDA and adjusted EBITDA. Also included below are reconciliations of the non-GAAP terms adjusted net income, adjusted diluted earnings per share and base business net sales to the most directly comparable measure calculated and presented in accordance with GAAP in the Company’s consolidated balance sheets and related consolidated statements of operations, comprehensive income, changes in stockholders’ equity and cash flows. B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emeril’s, Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc, Las Palmas, Le Sueur, MacDonald’s, Mama Mary’s, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Spice Islands, Spring Tree, Sugar Twin, Tone’s, Trappey’s, TrueNorth, Underwood, Vermont Maid, Victoria, Weber and Wright’s. B&G Foods also sells and distributes Static Guard, a household product brand. Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” The forward-looking statements contained in this press release include, without limitation, statements related to B&G Foods’ net sales, consumer marketing spending, adjusted EBITDA, adjusted diluted earnings per share and overall expectations for fiscal 2017. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of B&G Foods to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “projects,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in B&G Foods’ filings with the Securities and Exchange Commission, including under Item 1A, “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and in its subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. B&G Foods undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Loading BGS collaborators
Loading BGS collaborators