Wilton, CT, United States
Wilton, CT, United States

The Cannondale Bicycle Corporation, is an American division of Canadian conglomerate Dorel Industries that supplies bicycles. It is headquartered in Wilton, Connecticut with manufacturing and assembly facilities in China and Taichung, Taiwan. Wikipedia.


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News Article | November 3, 2016
Site: www.marketwired.com

- Third quarter operating profit improves in all segments year-over-year MONTREAL, QUEBEC--(Marketwired - Nov. 3, 2016) - Dorel Industries Inc. (TSX:DII.B)(TSX:DII.A) today announced results for the third quarter and nine months ended September 30, 2016. Third quarter revenue was US$671.3 million, down 1.2% from US$679.3 million from the corresponding quarter last year. Adjusted net income was US$20.6 million or US$0.63 per diluted share, compared to adjusted net income of US$15.5 million or US$0.48 per diluted share a year ago. Reported net income was US$15.9 million or US$0.49 per diluted share, compared to a reported net loss of US$8.8 million or US$0.27 per diluted share last year. For the nine months, revenue was US$1.95 billion, a decrease of 3.0% compared to US$2.01 billion last year. Adjusted net income increased to US$54.9 million or US$1.68 per diluted share, compared to adjusted net income of US$43.9 million or US$1.35 per diluted share a year ago. Reported net loss year-to-date was US$6.0 million or US$0.19 per diluted share, compared to net income of US$19.1 million or US$0.59 per diluted share in 2015. The Company is presenting adjusted financial information, excluding the impairment losses on goodwill and intangible assets, restructuring, other costs and remeasurement of forward purchase agreement liabilities, as it believes this provides a more meaningful comparison of its core business performance between the periods presented. These previously announced items are detailed in the attached tables of the press release and the third quarter includes restructuring, other costs and losses on the remeasurement of forward purchase agreement liabilities totaling US$6.4 million pre-tax or US$0.14 per diluted share. Contained within this press release are reconciliations of non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP. "Third quarter earnings improvements were led by on-going gains at Dorel Home Furnishings, higher gross margins at Dorel Juvenile, as well as a strong performance at Pacific Cycle and reduced bicycle industry discounting at Cycling Sports Group (CSG). In addition, the progress during the first nine months in all of our businesses has bolstered our financial position. Year-over-year nine month cash flows from operating activities improved by US$93.5 million, due primarily to enhanced management of our inventory levels. This has resulted in a significant strengthening in our financial position," commented Martin Schwartz, Dorel President and CEO. Third quarter revenue grew US$22.5 million or 13.6% to US$188.0 million. All divisions recorded year-over-year revenue improvement due to strong on-line sales, which represented 44% of total segment sales compared to 37% of sales in 2015. For the nine months, on-line sales represented 43% of total segment sales compared to 34% a year ago. Sales to the brick and mortar channel were flat during the quarter. For the nine months, revenue grew US$44.9 million or 9.3% to US$525.9 million, driven by on-going e-commerce growth, far exceeding reductions in brick and mortar sales. All divisions contributed to the substantial operating profit growth of 65.0% for the quarter and 65.5% year-to-date, mainly driven by e-commerce sales at improved margins. This was partly offset by, among other items, higher selling and general and administrative expenses in line with the segment's sales increase, including increased spending on information technology to support e-commerce growth. Third quarter revenue declined US$14.7 million or 5.9% to US$232.6 million and by US$62.1 million or 7.9% to US$724.8 million year-to-date. Organic revenue, excluding the impact of foreign exchange and planned reductions in third party sales at Dorel Juvenile China, declined by approximately 0.5% for the quarter and 1.7% for the nine months. For both periods, sales were higher in Latin America, but this was more than offset by declines in the U.S. and European markets. Notwithstanding the lower sales at Dorel Juvenile Europe, the division's operating profit was considerably above expectations. Operating profit for the quarter rose by US$9.6 million to US$12.4 million and by US$10.8 million to US$37.5 million for the nine months. Excluding restructuring and other costs, adjusted operating profit increased by 72.6% to US$13.6 million for the quarter and by 46.1% to US$48.9 million year-to-date, driven by higher margins due to favourable product mix and better pricing and production and purchasing improvements. US$2.0 million of this increase resulted from the net effect of lower costs for post-retirement benefits in the U.S. mainly offset by higher product liability costs. Several new products across various platforms were introduced at the Cologne, Germany international juvenile trade show where Dorel Juvenile was again a major exhibitor. The segment was also present at last month's ABC Kids Expo in Las Vegas. Among the new products launched during the third quarter were the Maxi Cosi Adorra travel system in the U.S., to be rolled out next year in all markets; additions to the Quinny Rachel Zoe collection as well as a new Infanti car seat and travel system in Brazil and Chile. The Safety 1st "Grow and Go" and "Continuum" convertible car seats continue to drive strong growth in the U.S. and Canada and will be introduced in Latin America next year. Third quarter revenue decreased by US$15.8 million or 5.9% to US$250.7 million and by approximately 6.2% after removing the impact of varying foreign exchange rates year-over-year. During the quarter, the CSG International business transitioned from a licensing revenue recognition model to a distribution platform where shipments are recognized as net sales and associated expenses in cost of sales. Previously, these costs were netted in licensing and commission income. Excluding the revenue recognition change in the third quarter of 2016 and the foreign exchange rate variations, organic revenue declined by 10.7%. Year-to-date revenue decreased US$42.8 million or 5.7% to US$703.7 million and by approximately 4.7% after excluding the impact of varying foreign exchange rates year-over-year. Organic revenue declined by approximately 6.4% when removing the impact of the change in the revenue recognition model and the variations of foreign exchange rates. For the quarter and nine months, the segment's lower sales can be attributed to a softer global bike market and changes in the North American independent bicycle dealer (IBD) retail environment as outlined in the outlook section of this press release. Operating profit rose by US$26.0 million to US$5.8 million for the quarter and adjusted operating profit increased by 0.9% to US$10.9 million when excluding impairment losses, restructuring and other costs. The year-over-year increased operating profit was mainly driven by margin improvement at all divisions, particularly Pacific Cycle due to their new product introduction success and logistics efficiencies, and Caloi, as a result of price increases. Less discounting aided by reduced inventory levels at CSG also contributed to the improvement. The segment also reduced working capital and increased cash flow. Year-to-date reported operating loss was US$38.9 million compared to a profit of US$2.5 million in 2015. Excluding impairment losses, restructuring and other costs, nine month adjusted operating profit declined by 34.9% to US$21.4 million. During the third quarter and nine months ended September 30, 2016, the Company's effective tax rates were expenses representing 18.7% and (35.5%) respectively compared to prior year's recovery of 20.6% for the quarter and year-to-date expense of 13.1%. Excluding income taxes on impairment losses, restructuring and other costs, the adjusted tax rate for the quarter was an expense of 20.4% compared to last year's recovery of 1.1% and an expense of 20.1% for the nine months of 2016 against an expense of 10.9% in 2015. Excluding the impact of impairment losses on goodwill and intangibles assets, restructuring and other costs and remeasurement of forward purchase agreement liabilities, the Company has stated that for the full year it expects its annual tax rate to be between 15% and 20%. Dorel's Board of Directors declared its regular quarterly dividend of US$0.30 per share on the outstanding number of the Company's Class A Multiple Voting Shares, Class B Subordinate Voting Shares, Deferred Share Units and cash-settled Performance Share Units. The dividend is payable on December 1, 2016 to shareholders of record as at the close of business on November 17, 2016. "Dorel's outlook for the balance of 2016 remains unchanged from the second quarter, led by Home Furnishings which is poised to improve operating profit by 50% over prior year. The momentum of the segment's positive performance will continue, though the pace of fourth quarter improvement will slow compared to prior quarters," stated Mr. Schwartz. "In Juvenile, our turnaround from last year is on-track, and as stated after the second quarter, we expect the year to finish with improved adjusted earnings in the second half. Our third quarter was better than originally expected, consequently expectations are that the fourth quarter will be similar to last year's. "In Dorel Sports, we are expecting a significant change in IBD retailers' purchasing patterns with fourth quarter orders moving to the first quarter of 2017. Therefore it is expected that there will be a reduction in second half CSG shipments which should result in year-over-year growth in the first half of 2017. For the Sports segment overall we believe the positive trend on adjusted operating profit will continue in the fourth quarter which will result in improved earnings compared to last year's fourth quarter," concluded Mr. Schwartz. Dorel Industries Inc. will hold a conference call to discuss these results today, November 3, 2016 at 1:00 P.M. Eastern Time. Interested parties can join the call by dialing 1-877-223-4471. The conference call can also be accessed via live webcast at http://www.dorel.com/eng/events. If you are unable to call in at this time, you may access a recording of the meeting by calling 1-800-585-8367 and entering the passcode 77134917 on your phone. This recording will be available on Thursday, November 3, 2016 as of 4:00 P.M. until 11:59 P.M. on Thursday, November 10, 2016. Complete condensed consolidated interim financial statements as at September 30, 2016 will be available on the Company's website, www.dorel.com, and will be available through the SEDAR website. Dorel Industries Inc. (TSX:DII.B)(TSX:DII.A) is a world class juvenile products and bicycle company. The Company's safety and lifestyle leadership is pronounced in both its Juvenile and Bicycle categories with an array of trend-setting, innovative products. Dorel Juvenile's powerfully branded products include global juvenile brands Safety 1st, Quinny, Maxi-Cosi and Tiny Love, complemented by regional brands such as Cosco, Bébé Confort and Infanti. In Dorel Sports, brands include Cannondale, Schwinn, GT, Mongoose, Caloi, IronHorse and SUGOI. Dorel Home Furnishings markets a wide assortment of both domestically produced and imported furniture products, principally within North America. Dorel Industries Inc. has annual sales of US$2.7 billion and employs approximately 10,000 people in facilities located in twenty-five countries worldwide. Certain statements included in this press release may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. Except as may be required by Canadian securities laws, Dorel does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements, by their very nature, are subject to numerous risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results could differ materially from Dorel's expectations expressed in or implied by such forward-looking statements and that the objectives, plans, strategic priorities and business outlook may not be achieved. As a result, Dorel cannot guarantee that any forward-looking statement will materialize, or if any of them do, what benefits Dorel will derive from them. Forward-looking statements are provided in this press release for the purpose of giving information about Management's current expectations and plans and allowing investors and others to get a better understanding of Dorel's operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking statements for any other purpose. Forward-looking statements made in this press release are based on a number of assumptions that Dorel believed were reasonable on the day it made the forward-looking statements. Factors that could cause actual results to differ materially from Dorel's expectations expressed in or implied by the forward-looking statements include: general economic conditions; changes in product costs and supply channels; foreign currency fluctuations; customer and credit risk, including the concentration of revenues with a small number of customers; costs associated with product liability; changes in income tax legislation or the interpretation or application of those rules; the continued ability to develop products and support brand names; changes in the regulatory environment; continued access to capital resources and the related costs of borrowing; changes in assumptions in the valuation of goodwill and other intangible assets; and there being no certainty that Dorel's current dividend policy will be maintained. These and other risk factors that could cause actual results to differ materially from expectations expressed in or implied by the forward-looking statements are discussed in Dorel's annual Management Discussion and Analysis and Annual Information Form filed with the applicable Canadian securities regulatory authorities. The risk factors outlined in the previously-mentioned documents are specifically incorporated herein by reference. Dorel cautions readers that the risks described above are not the only ones that could impact it. Additional risks and uncertainties not currently known to Dorel or that Dorel currently deems to be immaterial may also have a material adverse effect on Dorel's business, financial condition or results of operations. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. As a result of impairment losses, restructuring and other costs and remeasurement of forward purchase agreement liabilities incurred in both 2016 and 2015, the Company is including in this press release the following non-GAAP financial measures: "adjusted cost of sales", "adjusted gross profit", "adjusted operating profit", "adjusted finance expenses", "adjusted income before income taxes", "adjusted income taxes expense", "adjusted tax rate", "adjusted net income", and "adjusted earnings per basic and diluted share". The Company believes that this results in a more meaningful comparison of its core business performance between the periods presented. These non-GAAP financial measures do not have a standardized meaning prescribed by GAAP and therefore are unlikely to be comparable to similar measures presented by other issuers. Contained within this press release are reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP. The detail of impairment losses, restructuring and other costs and remeasurement of forward purchase agreement liabilities are presented below:


When David Crane stepped down late last year as president and CEO of energy company NRG (after holding the role for more than a decade), the renewables industry was very interested in his next move. As GTM's Julia Pyper reported, "Under Crane’s leadership, NRG launched a multi-pronged clean energy business with a unique focus on distributed, customer-centric products and services. Crane had a vision to transition the company from a traditional fossil-fuel power producer into a clean technology powerhouse. He wanted to make NRG the Google of energy." Unfortunately, the stock market and NRG's board didn't come around to that idea, and he was allowed to step down/fired. Would Crane end up leading a more patient, more renewables-friendly utility? Helming a startup and bringing his utility savvy to a new company? Leading a renewables advocacy effort? (SEIA has a recent opening.) Actually, David Crane will be joining Pegasus Capital Advisors as its senior operating executive. Craig Cogut founded Pegasus, a $2 billion private equity fund that specializes in "sourcing, buying, and building middle-market companies that compete on the basis of sustainability and resource efficiency." The Guardian referred to Cogut as "one of the founding fathers of private equity as a co-founder of Apollo Global Management." The firm's investments include Universal Lubricants, Molycorp Minerals, Lighting Science, iGPS, Traxys, Cannondale Bicycle Corporation, Jenzabar, PSI and Carol's Daughter. Green Charge Networks named Tim Larrison as its new CFO. Green Charge claims to be "the largest provider of commercial energy storage in the United States with more than 45 megawatt-hours of energy storage projects in operation or under construction." Earlier this year, Jeff St. John reported that "Green Charge Networks and Stem have been racing each other for the title of top behind-the-meter battery startup -- and for funding to back their no-money-down deals for customers." Larrison joins Green Charge from YGEA Holding, "a subsidiary of Yingli Solar where he was CFO and board director, responsible for the day-to-day financial and administrative management of the company  and North American finance initiatives." Mark Osborne of PV Tech writes, "As the dust settles on SunEdison’s Chapter 11 bankruptcy, it's time to get back to focusing on another technically bankrupt former solar market leader, Yingli Green Energy," noting, "In stark contrast to the media storm over the rise and fall of SunEdison, the precarious financial position of Yingli Green has been well documented in 2015, yet the company has said very little publicly about its finances since its third-quarter earnings call way back in early December 2015." General Fusion, a Canadian startup working to harness fusion power, named Bruce Colwill, formerly of Neuromed Pharmaceuticals, as CFO. The company named Jean-François Béland as VP of government relations and corporate affairs. Most recently, Béland was executive VP of Areva Canada. The company claims to be developing "the fastest, most practical, and lowest-cost path to commercial fusion energy" and is funded by Chrysalix Energy Venture Capital, Bezos Expeditions, Khazanah Nasional Berhad, Cenovus Energy, GrowthWorks, Braemar Energy Ventures, BDC, Entrepreneurs Fund, SET Ventures, Sustainable Development Technology Canada and NRC-IRAP.  Stephen Lacey reported on a brief from think tank Third Way noting that private investors have committed $1.3 billion to support nearly 50 startups working on commercializing new reactor designs across the U.S. and Canada. Former GTM Editor Michael Kanellos asked (now-DOE Secretary) Ernie Moniz in 2009 if we'd see fusion reactors anytime soon. Moniz, who was running  MIT's Energy Initiative at the time, looked Kanellos up and down and said, "Not in your lifetime." Canadian Solar, a solar panel manufacturer and developer, named Jianyi Zhang as senior VP, general counsel and chief compliance officer. Most recently, Zhang served, consecutively, as senior advisor to Chinese law firms of Jingtian & Gongcheng Law Firm, Runbo Law Firm, East Associates Law Firm and East & Concord Partners in Beijing. Before that, Zhang held a senior assistant general counsel position at Wal-Mart Stores. Michael Ratliff joined Enbala as executive VP of product. Most recently Ratliff was the CTO and senior VP of engineering at Comverge. Jeff St. John recently reported on Enbala's software platform to control pumps, refrigerators and other devices in ways that can turn them into fast-responding grid assets. Tantalus Systems, a maker of smart grid communications, named Hugo Hodge, Jr. as the company’s executive VP and GM, Caribbean Basin. Hodge most recently served as executive director and CEO of the Virgin Islands Water and Power Authority. Nearly half of California's oil is produced using enhanced oil recovery, which pumps steam into the ground to release oil. GlassPoint generates this steam with concentrated solar power rather than gas. The company is expanding to Bakersfield, Calif. and adding Michelle McGarry as director of project development, Americas. Previously, McGarry was a director of downstream consulting for IHS and held engineering and business development roles at Shell and WorleyParsons. Olu Adeoye, previously with oil companies such as Chevron and Shell, joins as California program manager. McGarry notes, “The single largest operating cost for a heavy oilfield in California is fuel purchase for steam generation." Kelcy Pegler Jr. resigned as CEO of NRG Home Solar, according to sources close to the company. With former CEO David Crane gone, there was little appetite for residential solar at NRG Energy, which acquired Pegler's 475-employee firm Roof Diagnostics Solar in April 2014. Sources also tell GTM that NRG Home Solar just laid off its San Diego solar installation crews. Also resigning from NRG recently was Robyn Beavers, the "founder and leader of the newly formed Station A Group, a microgrid skunk works within the power company." Tom Doyle, the CEO of NRG Renew, has left that firm. Recently, GTM also reported that Steve McBee, CEO at NRG Home for a little more than a year, will be leaving NRG. According to Power Finance & Risk, Denise Wilson, the executive VP and president of Alternative Energy Services, recently left the firm as well. As GTM's Stephen Lacey just reported, Rhone Resch, the man who's steered the U.S. solar industry's top lobbying group for a dozen years, is leaving his position at the end of May. Resch led national advocacy efforts during some of the most important moments for the American solar industry, including the passage of the eight-year federal Investment Tax Credit in 2008, passage of the stimulus package in 2009, and the most recent renewal of the Investment Tax Credit last December.


News Article | November 3, 2016
Site: www.marketwired.com

- Le profit opérationnel du troisième trimestre s'améliore pour toutes les divisions par rapport à l'exercice précédent - La division Dorel Mobilier de maison enregistre un autre excellent trimestre - Les résultats obtenus depuis le début de l'exercice renforcent la situation financière de la Société MONTRÉAL, QUÉBEC--(Marketwired - 3 nov. 2016) - La société Les Industries Dorel Inc. (TSX:DII.B)(TSX:DII.A) a annoncé aujourd'hui les résultats de son troisième trimestre et de la période de neuf mois clos le 30 septembre 2016. Le chiffre d'affaires s'est établi à 671,3 millions de dollars US au troisième trimestre, en baisse de 1,2 % par rapport à celui de 679,3 millions de dollars US réalisé lors du trimestre correspondant du précédent exercice. Le bénéfice net ajusté s'est élevé à 20,6 millions de dollars US, soit 0,63 $ US par action après dilution, comparativement à un bénéfice net ajusté de 15,5 millions de dollars US, ou 0,48 $ US par action après dilution, un an auparavant. Le bénéfice net déclaré s'est établi à 15,9 millions de dollars US, soit 0,49 $ US par action après dilution, comparativement à une perte nette déclarée de 8,8 millions de dollars US, ou 0,27 $ US par action après dilution, au troisième trimestre de l'exercice 2015. Pour les neuf premiers mois de l'exercice, le chiffre d'affaires s'est établi à 1,95 milliard de dollars US, soit un recul de 3,0 % par rapport au chiffre d'affaires de 2,01 milliards de dollars US réalisé douze mois plus tôt. Le bénéfice net ajusté a progressé pour atteindre 54,9 millions de dollars US, soit 1,68 $ US par action après dilution, comparativement à un bénéfice net ajusté de 43,9 millions de dollars US, ou 1,35 $ US par action après dilution, un an auparavant. La perte nette déclarée depuis le début de l'exercice s'est chiffrée à 6,0 millions de dollars US, soit 0,19 $ US par action après dilution, comparativement à un bénéfice net de 19,1 millions de dollars US, ou 0,59 $ US par action après dilution, en 2015. La Société présente de l'information financière ajustée qui exclut les pertes de valeur du goodwill et des immobilisations incorporelles, les frais de restructuration et autres coûts ainsi que la réévaluation des passifs au titre de contrats d'achat à terme de gré à gré parce qu'elle estime que l'exclusion de ces éléments permet de comparer de façon plus explicite la performance de ses activités princi pales d'une période à l'autre. Ces éléments précédemment annoncés sont présentés en détail dans les tableaux joints au présent communiqué et le troisième trimestre comprend des frais de restructuration et autres coûts ainsi que des pertes sur réévaluation des passifs au titre de contrats d'achat à terme de gré à gré d'un montant total de 6,4 millions de dollars US avant impôts, ou 0,14 $ US par action après dilution. Le présent communiqué comprend les rapprochements entre ces mesures financières non conformes aux PCGR et les mesures financières qui sont les plus directement comparables calculées conformément aux PCGR. « L'amélioration des bénéfices au troisième trimestre est attribuable à des gains continus à la division Dorel Mobilier de maison, à une hausse des marges brutes à la division Dorel Produits de puériculture, de même qu'à une solide performance de l'unité d'exploitation Pacific Cycle et à une réduction des rabais accordés dans l'industrie des bicyclettes à l'unité d'exploitation Cycling Sports Group (« CSG »). Par ailleurs, les progrès réalisés au cours des neuf premiers mois dans l'ensemble de nos secteurs d'activité ont solidifié notre situation financière. Les flux de trésorerie générés par les activités opérationnelles au cours des neuf premiers mois ont augmenté de 93,5 millions de dollars US par rapport au précédent exercice, en raison principalement d'une meilleure gestion des niveaux de stocks. Ces résultats ont permis de renforcer de manière importante notre situation financière, » a commenté Martin Schwartz, président et chef de la direction de Dorel. Le chiffre d'affaires a progressé de 22,5 millions de dollars US, ou 13,6 %, au troisième trimestre pour atteindre 188,0 millions de dollars US. Toutes les unités d'exploitation de la division ont amélioré leur chiffre d'affaires par rapport au précédent exercice grâce à la vigueur des ventes en ligne qui ont représenté 44 % des ventes totales de la division, comparativement à 37 % des ventes en 2015. Pour les neuf premiers mois de l'exercice, les ventes en ligne ont représenté 43 % des ventes totales de la division, comparativement à 34 % un an plus tôt. Les ventes réalisées auprès des détaillants traditionnels sont demeurées stables durant le trimestre. Pour les neuf premiers mois de l'exercice, le chiffre d'affaires a augmenté de 44,9 millions de dollars US, soit 9,3 %, pour s'établir à 525,9 millions de dollars US, stimulé par la croissance continue du commerce électronique qui a plus que largement compensé le recul des ventes effectuées auprès des détaillants traditionnels. L'ensemble des unités d'exploitation a contribué à la croissance substantielle du profit opérationnel de la division, une croissance qui atteint 65,0 % pour le trimestre et 65,5 % depuis le début de l'exercice, et qui est attribuable principalement aux marges plus élevées réalisées sur les ventes en ligne. Ces résultats ont été en partie contrebalancés, entre autres, par une hausse des frais de vente, généraux et administratifs qui cadre avec la progression des ventes de la division, et qui inclut une augmentation des dépenses liées aux technologies de l'information visant à soutenir la croissance du commerce électronique. Le chiffre d'affaires a reculé de 14,7 millions de dollars US, soit 5,9 %, au troisième trimestre pour s'établir à 232,6 millions de dollars US, et depuis le début de l'exercice, il a fléchi de 62,1 millions de dollars US, ou 7,9 %, pour s'établir à 724,8 millions de dollars US. Si l'on exclut l'incidence des fluctuations des taux de change et la réduction planifiée des ventes réalisées par Dorel Juvenile Chine auprès de tierces parties, le chiffre d'affaires a diminué d'environ 0,5 % pour le trimestre et de 1,7 % depuis le début de l'exercice, sur une base comparable. Pour les deux périodes, les ventes ont enregistré une hausse en Amérique latine, mais cette progression a été plus que contrebalancée par des baisses sur les marchés américains et européens. Malgré le recul des ventes de Dorel Juvenile Europe, le profit opérationnel de l'unité d'exploitation a été considérablement supérieur aux attentes. Le profit opérationnel a augmenté de 9,6 millions de dollars US au troisième trimestre pour atteindre 12,4 millions de dollars US, et a progressé de 10,8 millions de dollars US depuis le début de l'exercice pour s'élever à 37,5 millions de dollars US. Si l'on exclut les frais de restructuration et autres coûts, le profit opérationnel ajusté a augmenté de 72,6 % pour atteindre 13,6 millions de dollars US au troisième trimestre, et a progressé de 46,1 % depuis le début de l'exercice pour se chiffrer à 48,9 millions de dollars US, grâce à un accroissement des marges attribuable à une composition des ventes plus favorables, des prix de vente plus avantageux et des améliorations apportées aux activités de production et d'approvisionnement. 2,0 millions de dollars US de cette augmentation résulte de l'impact net d'une baisse des coûts au titre des avantages complémentaires de retraite aux États-Unis, principalement contrebalancé par une hausse des coûts associés à la responsabilité civile produits. Plusieurs nouveaux produits issus de différentes plateformes ont été présentés dans le cadre de la foire commerciale internationale de produits pour enfants de Cologne, en Allemagne, où Dorel Produits de puériculture a de nouveau tenu un stand d'envergure. La division a également participé à la foire ABC Kids Expo qui a eu lieu le mois dernier à Las Vegas. On compte parmi les nouveaux produits lancés au cours du troisième trimestre le système de voyage Adorra de Maxi Cosi aux États-Unis et qui sera distribué l'an prochain dans l'ensemble des marchés, des ajouts à la collection Rachel Zoe de Quinny de même qu'un nouveau siège d'auto et système de voyage de marque Infanti au Brésil et au Chili. Les sièges d'auto transformables « Grow and Go » et « Continuum » de la marque Safety 1st continuent de soutenir une forte croissance aux États-Unis et au Canada et seront lancés sur les marchés d'Amérique latine l'an prochain. Le chiffre d'affaires a reculé de 15,8 millions de dollars US, ou 5,9 %, au troisième trimestre pour s'établir à 250,7 millions de dollars US. Si l'on exclut l'incidence des fluctuations des taux de change d'un exercice à l'autre, le recul du chiffre d'affaires s'établit à environ 6,2 %. Durant le trimestre, les activités de l'unité d'exploitation CSG International sont passées d'un modèle de comptabilisation des produits de licence à une plateforme de distribution en vertu de laquelle les livraisons sont comptabilisées comme des ventes nettes et les charges connexes dans le coût des produits vendus. Antérieurement, ces coûts étaient déduits des produits de droits de licence et commissions. Si l'on exclut cette modification apportée à la comptabilisation des produits au troisième trimestre de 2016 ainsi que les fluctuations des taux de change, le chiffre d'affaires a reculé d'environ 10,7 % sur une base comparable. Depuis le début de l'exercice, le chiffre d'affaires a reculé de 42,8 millions de dollars US, soit 5,7 %, pour s'établir à 703,7 millions de dollars US. Si l'on exclut l'incidence des fluctuations des taux de change d'un exercice à l'autre, le recul du chiffre d'affaires s'établit à environ 4,7 %. Sur une base comparable, le chiffre d'affaires a baissé d'environ 6,4 % si l'on exclut l'impact de la modification apportée au modèle de comptabilisation des produits et des fluctuations des taux de change. Pour le trimestre et les neuf premiers mois de l'exercice, le recul des ventes de la division est attribuable à une conjoncture moins favorable sur le marché mondial des bi cyclettes et à des changements dans le réseau des détaillants de bicyclettes indépendants (« DBI ») nord-américains, comme il est expliqué à la section du présent communiqué traitant des perspectives. Le profit opérationnel a augmenté de 26,0 millions de dollars US au troisième trimestre pour atteindre 5,8 millions de dollars US, tandis que le profit opérationnel ajusté a progressé de 0,9 % pour se chiffrer à 10,9 millions de dollars US, si l'on exclut les pertes de valeur, frais de restructuration et autres coûts. L'augmentation du profit opérationnel, d'un exercice à l'autre, était principalement attribuable à une amélioration des marges dans l'ensemble des unités d'exploitation, et particulièrement à l'unité d'exploitation Pacific Cycle en raison du succès remporté avec le lancement de nouveaux produits et de gains de productivité logistique, ainsi qu'à l'unité d'exploitation Caloi, grâce à des hausses des prix de vente. La diminution des rabais accordés, jumelée à des niveaux de stocks réduits à l'unité d'exploitation CSG, a également contribué à l'amélioration. La division a aussi réduit son fonds de roulement et accru ses flux de trésorerie. Depuis le début de l'exercice, la perte opérationnelle déclarée s'élevait à 38,9 millions de dollars US, comparativement à un profit de 2,5 millions de dollars US en 2015. Si l'on exclut les pertes de valeur, frais de restructuration et autres coûts, le profit opérationnel ajusté pour les neuf premiers mois de l'exercice a baissé de 34,9 % pour s'établir à 21,4 millions de dollars US. Le taux d'imposition effectif de la Société a donné lieu à des charges de 18,7 % au troisième trimestre et de 35,5 % pour les neuf premiers mois de l'exercice, comparativement à un recouvrement de 20,6 % et une charge de 13,1 %, respectivement, pour le trimestre et la période de neuf mois clos le 30 septembre 2015. Si l'on exclut l'impôt sur les pertes de valeur, les frais de restructuration et autres coûts, le taux d'imposition ajusté de la Société a donné lieu à une charge de 20,4 % pour le trimestre, comparativement à un recouvrement de 1,1 % lors du précédent exercice, et à une charge de 20,1 % pour les neuf premiers mois de 2016, comparativement à une charge de 10,9 % pour la période correspondante en 2015. La Société a fait savoir qu'elle s'attend à ce que son taux d'imposition annuel pour l'ensemble de l'exercice se situe dans une fourchette de 15 % à 20 %, si l'on exclut l'incidence des pertes de valeur du goodwill et des immobilisations incorporelles, des frais de restructuration et autres coûts ainsi que de la réévaluation des passifs au titre de contrats d'achat à terme de gré à gré. Le conseil d'administration de Dorel a déclaré son dividende trimestriel régulier de 0,30 $ US par action sur les actions à droit de vote plural de catégorie A, les actions à droit de vote subalterne de catégorie B, les unités d'actions différées et les droits différés à la valeur des actions réglés en espèces en circulation de la Société. Le dividende sera payable le 1er décembre 2016 aux actionnaires inscrits aux registres de la Société à la fermeture des bureaux le 17 novembre 2016. « Les perspectives de Dorel pour la portion restante de l'exercice 2016 demeurent inchangées par rapport à celles énoncées au deuxième trimestre, et il est toujours prévu que la division Dorel Mobilier de maison améliore son profit opérationnel de 50 % par rapport au précédent exercice. La division continuera à bénéficier d'une dynamique favorable et à afficher une performance positive, bien que le rythme d'amélioration au quatrième trimestre ralentira par rapport aux précédents trimestres, » a déclaré M. Schwartz. « Le redressement entrepris l'an dernier à la division Dorel Produits de puériculture progresse comme prévu et, comme nous l'avions indiqué après la fin du deuxième trimestre, nous nous attendons à clore l'année avec de bons résultats, notamment avec une amélioration des bénéfices ajustés dans la seconde moitié de l'exercice. Les résultats obtenus au troisième trimestre ont été supérieurs à nos prévisions de sorte que nous nous attendons à ce que le quatrième trimestre affiche des résultats similaires à ceux du précédent exercice. « À la division Dorel Sports, nous anticipons un changement important dans les habitudes d'approvisionnement des DBI qui fera en sorte que les commandes du quatrième trimestre seront reportées au premier trimestre de 2017. Par conséquent, nous devons nous attendre à une réduction des livraisons de l'unité d'exploitation CSG dans la seconde moitié de l'exercice qui devrait donner lieu à une croissance dans la première moitié de 2017 par rapport à l'exercice précédent. Pour la division Dorel Sports dans son ensemble, nous croyons que la tendance positive que suit le profit opérationnel ajusté se poursuivra au quatrième trimestre, ce qui entraînera une amélioration des bénéfices par rapport au quatrième trimestre du précédent exercice, » a conclu M. Schwartz. Les Industries Dorel Inc. tiendra une conférence téléphonique aujourd'hui, le 3 novembre 2016 à 13 h, heure de l'Est, pour discuter de ces résultats. Les personnes intéressées peuvent se joindre à l'appel en composant le 1-877-223-4471. Il sera également possible de participer à la conférence en direct sur le Web en se rendant à http://www.dorel.com/fre/events. Si vous êtes dans l'impossibilité d'y participer, vous pourrez avoir accès à un enregistrement de la conférence téléphonique en téléphonant au 1-800-585-8367 et en entrant le code 77134917 sur votre clavier téléphonique. L'enregistrement sera accessible à compter de 16 h, le jeudi 3 novembre 2016 jusqu'à 23 h 59 le jeudi 10 novembre 2016. Des états financiers intermédiaires consolidés résumés complets au 30 septembre 2016 seront disponibles sur le site Web de la Société, www.dorel.com, et seront mis à votre disposition sur le site Web des systèmes SEDAR. Les Industries Dorel Inc. (TSX:DII.B)(TSX:DII.A) est une société de produits de puériculture et de bicyclettes de classe mondiale. Le leadership de la Société en matière de sécurité et de style de vie est particulièrement marqué dans ces catégories de produits qui comptent une multitude d'articles novateurs qui définissent les tendances. La division Dorel Produits de puériculture possède un portefeuille de marques de grande notoriété, notamment les marques mondiales Safety 1st, Quinny, Maxi-Cosi et Tiny Love, auxquelles s'ajoutent des marques régionales comme Cosco, Bébé Confort et Infanti. Les marques de Dorel Sports comprennent Cannondale, Schwinn, GT, Mongoose, Caloi, IronHorse et SUGOI. Dorel Mobilier de maison commercialise, principalement en Amérique du Nord, un vaste assortiment de produits d'ameublement pour la maison dont certains fabriqués aux États-Unis et au Canada et d'autres importés. Les Industries Dorel Inc., dont le chiffre d'affaires annuel atteint 2,7 milliards de dollars US, compte environ 10 000 employés qui œuvrent dans des installations réparties dans vingt-cinq pays à travers le monde. Certains des énoncés contenus dans le présent communiqué de presse peuvent constituer des « énoncés prospectifs » au sens de la législation canadienne sur les valeurs mobilières applicable. Sous réserve de ce qui pourrait être exigé par les lois canadiennes sur les valeurs mobilières, Dorel n'assume aucune obligation de mettre à jour ou de réviser les énoncés prospectifs, que ce soit à la suite de nouveaux r enseignements, d'événements futurs ou autrement. De par leur nature, les énoncés prospectifs sont assujettis à de nombreux risques et incertitudes, et ils sont fondés sur plusieurs hypothèses qui laissent entrevoir la possibilité que les résultats réels pourraient ne pas correspondre, pour l'essentiel, aux attentes de Dorel telles qu'elles sont exprimées de manière explicite ou implicite dans ces énoncés, et que les objectifs, plans, priorités stratégiques et perspectives commerciales pourraient ne pas se matérialiser. Par conséquent, Dorel ne peut garantir qu'un énoncé prospectif se matérialisera ou, s'il se matérialise, ce que Dorel en bénéficiera. Les énoncés prospectifs sont présentés dans le présent communiqué de presse aux fins de communiquer des renseignements sur les attentes et les plans actuels de la direction et de permettre aux investisseurs et à d'autres personnes de mieux comprendre le contexte d'exploitation de Dorel. Cependant, le lecteur est mis en garde qu'il pourrait ne pas être opportun d'utiliser ces énoncés prospectifs à d'autres fins. Les énoncés prospectifs contenus dans le présent communiqué de presse sont fondés sur plusieurs hypothèses que Dorel estimait raisonnables le jour où elle les a exprimés. Les facteurs susceptibles de faire varier de façon importante les résultats réels par rapport aux attentes de Dorel exprimées directement ou de manière implicite dans les énoncés prospectifs sont notamment les suivants : la conjoncture économique générale; des changements survenus dans les coûts des produits et les réseaux d'approvisionnement; les fluctuations des devises; le risque lié à la clientèle et au crédit y compris la concentration de revenus auprès d'un petit nombre de clients; les coûts associés à la responsabilité civile produits; les changements intervenus à la législation fiscale ou l'interprétation ou l'application de ces règles; la capacité continue de mettre au point des produits et de soutenir les noms de marques; des changements apportés dans l'environnement réglementaire; un accès continu aux ressources en capital et les coûts des emprunts relatifs; des changements survenus aux hypothèses servant à l'évaluation du goodwill et d'autres actifs incorporels; et il n'y a aucune certitude que la politique de dividendes actuelle de Dorel sera maintenue. Ces facteurs de risque et d'autres facteurs de risque susceptibles de faire varier considérablement les résultats réels par rapport aux attentes exprimées directement ou de manière implicite dans les énoncés prospectifs sont discutés dans le rapport de gestion annuel et dans la notice annuelle de Dorel qui ont été déposés auprès des autorités canadiennes en valeurs mobilières compétentes. Les facteurs de risque qui ont été soulignés dans les documents précédemment mentionnés sont intégrés par renvoi au présent communiqué de presse. Dorel met en garde le lecteur sur le fait que les risques décrits précédemment ne sont pas les seuls susceptibles d'avoir des répercussions. D'autres risques et incertitudes dont Dorel n'a pas connaissance à l'heure actuelle ou que Dorel estime non importants peuvent aussi avoir une incidence défavorable importante sur ses activités, sa situation financière ou ses résultats opérationnels. Compte tenu de ces risques et incertitudes, les investisseurs ne devraient pas se fier de manière indue aux énoncés prospectifs pour en prédire les résultats réels. En raison des pertes de valeur, des frais de restructuration et autres coûts ainsi que de la réévaluation des passifs au titre de contrats d'achat à terme de gré à gré engagés en 2016 et 2015, la Société inclut dans le présent communiqué des mesures financières non conformes aux PCGR, à savoir le « coût des produits vendus ajusté », le « profit brut ajusté », le « profit opérationnel ajusté », les « frais financiers ajustés », le « bénéfice avant impôts sur le résultat ajusté», les « impôts sur le résultat ajustés », le « taux d'imposition ajusté», le « bénéfice net ajusté » et le « bénéfice par action ajusté de base et dilué ». La Société estime que cette information permet de comparer de façon plus explicite la performance de ses activités principales d'une période à l'autre. Ces mesures financières non conformes aux PCGR n'ont pas de signification normalisée prescrite par les PCGR et, par conséquent, il est peu probable qu'elles puissent être comparées à des mesures semblables présentées par d'autres émetteurs. Le présent communiqué de presse comprend les rapprochements entre ces mesures financières non conformes aux PCGR et les mesures financières qui sont les plus directement comparables calculées conformément aux PCGR. Tableaux de rapprochement des mesures financières non conformes aux PCGR: Tableaux de rapprochement des mesures financières non conformes aux PCGR: Les détails relatifs aux pertes de valeur, aux frais de restructuration et autres coûts ainsi qu'à la réévaluation des passifs au titre de contrats d'achat à terme de gré à gré comptabilisés sont présentés ci-dessous : Tableaux de rapprochement des mesures financières non conformes aux PCGR: Tableaux de rapprochement des mesures financières non conformes aux PCGR:


News Article | November 28, 2016
Site: www.marketwired.com

MONTRÉAL, QUÉBEC--(Marketwired - 28 nov. 2016) - La société Les Industries Dorel Inc. (TSX:DII.B)(TSX:DII.A) a annoncé aujourd'hui le départ de Jean-Claude Jacomin, président du groupe et chef de la direction de la division Dorel Produits de puériculture. « Nous remercions Jean-Claude pour ses années de service dévoué au sein de Dorel et lui souhaitons la meilleure des chances pour l'avenir, » a déclaré Martin Schwartz, président et chef de la direction de Dorel. Les Industries Dorel Inc. (TSX:DII.B)(TSX:DII.A) est une société de produits de puériculture et de bicyclettes de classe mondiale. Le leadership de la Société en matière de sécurité et de style de vie est particulièrement marqué dans ces catégories de produits qui comptent une multitude d'articles novateurs qui définissent les tendances. La division Dorel Produits de puériculture possède un portefeuille de marques de grande notoriété, notamment les marques mondiales Safety 1st, Quinny, Maxi-Cosi et Tiny Love, auxquelles s'ajoutent des marques régionales commeCosco, Bébé Confort et Infanti. Les marques de Dorel Sports comprennent Cannondale, Schwinn, GT, Mongoose, Caloi, IronHorse et SUGOI. Dorel Mobilier de maison commercialise aussi, principalement en Amérique du Nord, un vaste assortiment de produits d'ameublement pour la maison dont certains fabriqués aux États-Unis et au Canada et d'autres importés. Les Industries Dorel Inc., dont le chiffre d'affaires annuel atteint 2,7 milliards de dollars US, compte environ 10 000 employés qui oeuvrent dans des installations réparties dans vingt-cinq pays à travers le monde. Certains des énoncés contenus dans le présent communiqué de presse peuvent constituer des « énoncés prospectifs » au sens de la législation canadienne sur les valeurs mobilières applicable. Sous réserve de ce qui pourrait être exigé par les lois canadiennes sur les valeurs mobilières, Dorel n'assume aucune obligation de mettre à jour ou de réviser les énoncés prospectifs, que ce soit à la suite de nouveaux renseignements, d'événements futurs ou autrement. De par leur nature, les énoncés prospectifs sont assujettis à de nombreux risques et incertitudes, et ils sont fondés sur plusieurs hypothèses qui laissent entrevoir la possibilité que les résultats réels pourraient ne pas correspondre, pour l'essentiel, aux attentes de Dorel telles qu'elles sont exprimées de manière explicite ou implicite dans ces énoncés, et que les objectifs, plans, priorités stratégiques et perspectives commerciales pourraient ne pas se matérialiser. Par conséquent, Dorel ne peut garantir qu'un énoncé prospectif se matérialisera ou, s'il se matérialise, ce que Dorel en bénéficiera. Les énoncés prospectifs sont présentés dans le présent communiqué de presse aux fins de communiquer des renseignements sur les attentes et les plans actuels de la direction et de permettre aux investisseurs et à d'autres personnes de mieux comprendre le contexte d'exploitation de Dorel. Cependant, le lecteur est mis en garde qu'il pourrait ne pas être opportun d'utiliser ces énoncés prospectifs à d'autres fins. Les énoncés prospectifs contenus dans le présent communiqué de presse sont fondés sur plusieurs hypothèses que Dorel estimait raisonnables le jour où elle les a exprimés. Les facteurs susceptibles de faire varier de façon importante les résultats réels par rapport aux attentes de Dorel exprimées directement ou de manière implicite dans les énoncés prospectifs sont notamment les suivants : la conjoncture économique générale; des changements survenus dans les coûts des produits et les réseaux d'approvisionnement; les fluctuations des devises; le risque lié à la clientèle et au crédit y compris la concentration de revenus auprès d'un nombre restreint de clients; les coûts associés à la responsabilité civile produits; les changements intervenus à la législation fiscale, ou l'interprétation ou l'application de ces règles; la capacité continue de mettre au point des produits et de soutenir les marques de commerce; des changements apportés dans l'environnement réglementaire; un accès continu aux ressources en capital et les coûts des emprunts relatifs; des changements survenus aux hypothèses servant à l'évaluation du goodwill et d'autres éléments d'actifs incorporels; et il n'y a aucune certitude que la politique de dividendes actuelle de Dorel sera maintenue. Ces facteurs de risque et d'autres facteurs de risque susceptibles de faire varier considérablement les résultats réels par rapport aux attentes exprimées directement ou de manière implicite dans les énoncés prospectifs sont discutés dans le rapport de gestion annuel et dans la notice annuelle de Dorel qui ont été déposés auprès des autorités canadiennes en valeurs mobilières compétentes. Les facteurs de risque qui ont été soulignés dans les documents précédemment mentionnés sont intégrés par renvoi au présent communiqué de presse. Dorel met en garde le lecteur sur le fait que les risques décrits précédemment ne sont pas les seuls susceptibles d'avoir des répercussions. D'autres risques et incertitudes dont Dorel n'a pas connaissance à l'heure actuelle ou que Dorel estime non importants peuvent aussi avoir une incidence défavorable importante sur ses activités, sa situation financière ou ses résultats opérationnels. Compte tenu de ces risques et incertitudes, les investisseurs ne devraient pas se fier de manière indue aux énoncés prospectifs pour en prédire les résultats réels.


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

OLATHE, Kan.--(BUSINESS WIRE)--Garmin International Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), today announced sponsorship of nine professional cycling teams in 2017, including five world tour teams and four mountain biking teams. Garmin will continue to sponsor the Cannondale-Drapac Pro Cycling Team and the Movistar Team, and welcomes the Astana Pro Team, FDJ Pro Team and Team Dimension Data for Qhubeka this year. Additionally, Garmin will continue its support of the following mountain biking teams: Trek Factory Racing, CLIF Pro Team, CUBE Action Team and Scott-SRAM. “Garmin started sponsoring professional cycling teams nearly a decade ago, and we are excited to continue our commitment to the sport,” said Jon Cassat, Garmin vice president of communications. “As a leader in cycling technology, we are proud to provide the teams with top-of-the-line products – from GPS bike computers to cycling awareness accessories and multisport GPS watches – for training, racing and adventure in between.” Several teams will be equipped with Garmin products to increase performance and help provide a safer cycling environment. Edge® cycling computers will provide data and key metrics to cyclists, as well as GPS and navigational support. The world’s first cycling radar, Varia™, will warn of vehicles approaching from behind, while a tail light brightens and flashes to alert drivers of a cyclist ahead. Additionally, many of the sponsored teams will use Garmin Forerunner® GPS running watches, fēnix® multisport GPS watches and a range of vívo activity trackers which will monitor the distance cyclists travel, the calories they burn and how much sleep they get every night. The teams will also benefit from the Garmin Index™ smart scale that measures weight, body fat, skeletal muscle mass and more. The ever-expanding Garmin fitness segment develops technologies to enhance and promote healthy and active lifestyles. Whether users are cyclists, runners, swimmers, multi-sport athletes, or simply looking to stay active throughout the day, there is a product that can help them reach their health and fitness goals. For decades, Garmin has pioneered new GPS navigation and wireless devices and applications that are designed for people who live an active lifestyle. Garmin serves five primary business units, including automotive, aviation, fitness, marine, and outdoor recreation. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, contact the Media Relations department at 913-397-8200, or follow us at facebook.com/garmin, twitter.com/garmin, or youtube.com/garmin. Garmin International Inc. is a subsidiary of Garmin Ltd. (Nasdaq: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademark of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved. This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 26, 2015, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.


News Article | September 30, 2016
Site: motherboard.vice.com

I was 50 miles or so into one morning's ride, pedaling up an exurban hill, the third hard climb in succession, in the lowest gear, uncharted territory where every stroke pushes you maybe three inches forward. It must have been quite a sight for the wealthy denizens of rural-ish New York, to look outside the windows of their rumpus rooms to see a tall gangly weirdo in aerodynamic spandex drooling and swearing at himself as Porsche SUVs and ants raced past. The only solace I remember feeling was the knowledge that, were I to eventually fall over, not quite dead but already locked in rigor mortis, I'd at least live out my final moments on someone's plush lawn. I should say right away that this story, nominally a bicycle review, started with a Facebook post. My recent 29th birthday coincided with an increased consumption of mountain bike magazines and the realization that, thanks to the years I've lived so far and the coming slow decline of my body's general condition until my eventual death, I've only got about 10 good years of legs left. I have woken up every day for the last three months terrified that I am going to be too old to ride bikes well by the time I can afford them. Now, I don't currently own a mountain bike, but do live in Brooklyn, which has a noted dearth of mountains, and this all means I've been spending the rare evening at home putting things on Netflix that I don't care about expressly so I can stop rewinding while I read about suspension geometry and wonder if I'm going to live long enough to shred again. I have become the itchy-scratchy stressball of neuroses that the quantified-self industry subsists on. Earlier this year I again started using an app called Strava, which tracks your runs or rides in detail for $9 a month, which is perfect for charting your training gains—or losses, as we slide over the peak of our biological fitness and testosterone production and all that jazz and accelerate toward soft-gutted daddom. I love Strava—it's one of the rare apps I am a Premium Subscriber of—but one of its central features drives me completely insane: As it charts your rides around wherever you go, you'll occasionally come across a "segment": a route, selected for being a challenging climb or open room for sprinting or an otherwise notable stretch of road, for which there is a leaderboard of every person to ever time themselves riding across it. And there's the rub: Since I didn't keep up training through the last seven years of avant-garde living, and never invested in some sort of experimental gene-editing tech, I figured I had about a couple years left to try be #1—King of the Mountain, or KOM, in bike parlance—on one of these goddamn segments. So I might as well start now. Of all the bikes I've owned over the years, I'm currently down to two: a 1985 Cannondale road bike that I spent a bunch of money to get running again and now don't ride because it's too fragile for Brooklyn's bombed-out roadways, and an All-City singlespeed cyclocross bike, which makes for a simple, reliable all-weather commuter, and because it's basically the road equivalent of a BMX bike, is the perfect companion for ripping around the city like an obnoxious maniac. I think it's my favorite bike I've ever owned. But all-out speed is far from its forte, and after giving what I thought was perfect, all-green-light effort on my favorite sprint climb in Brooklyn and only charting #33 all-time—and subsequently getting owned in the following 3.3 mile loop of Prospect Park, where cyclists actually have gears and wear kits more aerodynamic than a tank top and jean shorts—I did what every grumpy person on Earth does and posted an exasperated, complain-y Facebook post saying I needed to find a new bike. By chance, Patrick "Tree" Miller, a friend from our UCSB bike club, Kroozer $kid Nation, now works as the road R&D technician for Specialized, a top-tier bike company based in California's Bay Area. After "liking" my existential crisis, he said he could perhaps help me get some sort of Tour de France-winning bicycle for review. Considering this week's luxury theme week on Motherboard is focused on how the rich buy more time for themselves, I figured I could take the whole thing literally and see if I could buy my way to the top of Strava—to dope with money, if you want. And that's how I found myself a few weeks later at Bicycle Habitat, a high-end shop in Manhattan, getting my sad sack of bones poked and prodded and measured so I could be custom fitted to an S-Works Tarmac, Specialized's top-flight race bike, which costs a mere $9500 or so. This model could go right off the showroom floor and win a pro race. I'd love to call it the Ferrari of bicycles, but I'm guessing the Italian bike companies would be annoyed with me, so we could call it the McLaren (with whom Specialized has a partnership with). Describing it feels most like describing a car from the Fast and the Furious: the frame is made of FACT 11r carbon fiber (one better than the 10r used on cheaper multi-thousand-dollar models), the carbon wheels and cranks have CeramicSpeed bearings, and the damn thing has a SRAM Red eTap electronic wireless drivetrain because cables are ugly and heavy and come on the damn shifters are wireless! The problem with a bike this advanced and this fast is simple: Everyone on Earth wants to race you, but more on that in a bit. Let's just leave it at this: I could ride this bike for the rest of my life and never be fast enough for it. Unlike most other sports, which feature organic moves that you could at least imagine seeing in nature—running, jumping, throwing, dunking—cycling is inherently mechanical. The core measure of strength for cycling is wattage, or how much power your spinning legs can produce over time like any old generator. Everything else—the aerodynamic suits, the carbon fiber, the wackadoodle helmets—are all in service of maximizing the efficient usage of those watts. Because riding means doing the same exact motion a hundred times a minute for hours on end, efficiency starts with ensuring the bike fits properly. I spent two or three hours with David, an actual legit racer who also works at Bicycle Habitat strapping jamokes like me to their fancy bikes to make sure they don't blow up their ligaments as they pedal around. Dialing in precise and efficient kinematics starts with the feet: David measured the size and orientation of my feet, dialed in the positioning of the cleats on my shoes, and then measured my flexibility and range of motion from ankles on up. This took about an hour and a half, after which I was able to finally hop on the bike (well, on a stand) and test things out. After adjusting the seat, swapping handlebars, moving the stem, and adding a shim to the shoe of my short leg, David converted me from a flailing Tasmanian Devil to a dialed rider with consistent, mechanical pedal stroke like an oil derrick, or the diesel engine in a cargo ship, or some other similarly powerful thing. And with that done, and now having gotten to know each other in a far more personal fashion than I anticipated, David bid me au revoir. I've been run over by enough cars to know it sucks—especially when it's two in the morning in East LA and you've already skidded through your back tire to show off for attractive pedestrians and a taxi driver decides you are the one in the group that needs to inspect his bumper—but usually it's the bike that takes the brunt of it. Wobbling into traffic, all I hoped for was to get it home in one piece. It took about a block to realize the pitfalls of trying to commute about on a modern race bike. Putting aside the separate set of shoes for a moment, it's impossible to ride slow because it's so light that it'd rather float off into a cloud than track straight. (I think it's about 15 or 16 pounds, although I've always had a policy of not weighing my bikes because knowing they could be lighter gets expensive quickly.) Plus, even with a pretty understated paint job, the Tarmac is still a bat signal for every pumped-up rider, from messengers to Citi bikers, who want to say they beat some dude on a fancy bike, even if that means running through lights and traffic to win. Riding through the crowded streets of lower Manhattan, I slowed to a crawl to keep anyone from dying on my watch. As soon as I got to the Williamsburg bridge, though, it was on. David warned me that the bike would take off whether I was on it or not, and that's more or less what my first experience pushing it was like. I zipped up the climb without even realizing my legs were moving, passing a couple dozen bikes on the way to the top. Later, I found I cut 35 seconds off my best time. Success! And then I saw I was ranked 430/9300. Hell. The next evening, I went for my first actual ride on the Tarmac. When I spoke to Specialized about my review being more of my own personal battle against time itself, they offered to also let me test out the company's Evade skinsuit, which the company claims is the most aerodynamic (well, fastest) skinsuit on the market. All I know is that it's a skin-tight jumpsuit that costs $500 and really should only be worn during professional time trials. But if I'm gonna dope with money, I might as well let it all hang out. Riding a $9500 bicycle slowly through traffic in Williamsburg, Brooklyn—a neighborhood with a complicated relationship with both wealth and non-fixed gear bikes—while wearing a skinsuit elicits a response from passersby similar to what I'd imagine it'd be like to get oiled up and nude and drive a Lamborghini convertible through Beverly Hills: People are sure you're some sort of insane rich asshole, but there are so many around that it's not worth much more than a raised eyebrow. Look at how much fun we're having! No computers to look at or anything! I'm surely letting The Fear grab hold as I'm thinking this—who really gives a shit, I suppose—but as in the Lambo scenario, all I want to is let it rip on the highway and feel the wind glide around my glistening body. Fast bikes should be ridden fast, and that's what I'm here to do. I've ridden all manner of bikes all my life, but never got too seriously into racing because it's not cheap. But the real beauty of it is just riding for, and sometimes against, yourself, hearing the tires hum on the pavement and not much else because the wind is whistling in your ears. This first ride out on the Tarmac, doing a couple laps of Prospect Park, whose inner loop is usually blocked off for cyclists and runners, I felt more at peace than I have in quite some time. It was kind of embarrassing how much I was giggling, to be honest. Of course, I can and have done the exact same on the bike of a mere mortal, but the prospect of riding the Tarmac was enough to get me more readily over the hump of riding through five miles of traffic and bombed-out roads for the smooth ring of the park before work. Plus, while I knew I'd never get to the top of the charts in the park because people actually race there, on a random evening I was still fast enough to kick everyone's ass by a wide enough margin to almost make good on the promise made by the $10,000+ of gear I was zipping around on. And when I got home, already giddy from numb legs from the ride, I got the results from Strava: a sweet, sweet flood of PRs, which are signified by a tiny medal made of pixels and sweet, sweet dopamine. Better yet, with my muscles pumped up by cold hard cash, on my favorite uphill sprint, I'd hit the lights on Vanderbilt Ave perfectly and managed to jump from #33 to #9 out of 7575. Success! Who needs to exercise when you can be rich? I'll sum up the next few weeks by saying this: I never again got a clear shot at the Vanderbilt hill. I also hit a plateau where I wasn't training as hard as I'd like—thank you, Strava, for being an endless reminder of that—and not getting enough miles in to make up the difference in bulk. Every time I hopped on the bike my legs felt dead, and 10 miles in would loosen up, only to wear down after another five or so. I felt bad, and old, and crappy after every ride, compounded by feeling like a poser for riding a professional bike at particularly amateurish speeds. Cycling takes an ENORMOUS amount of time. Training properly means getting up at dawn, sliding into more spandex, and pedaling for as much as the day allows. For someone who works 55-60 hours a week, finding 10 more to sit in the saddle wasn't easy. And that doesn't count all the time spent eating. I think I burn around 350 calories for every 10 miles for ridden, which, considering I'm already a slender man, means shoving a lot of random crap in my piehole just to keep up. I suppose if I was really rich I could also afford some sort of insane nutrition program, but for now I've got a body built by protein powder and pasta. Yum. I did have one bright spot in my quest for a KOM: At the end of my morning ride is a short, curving sprint that I came within a couple seconds of winning on my first attempt with the Tarmac. After a bunch of botched attempts and general sadness, one day I hit the start perfectly, sprinting THWACK THWACK THWACK through the gears—SRAM's eTap drivetrain shifts in a very direct fashion, and I am now addicted to it—until a semi truck in front of me moved to block the inside line of the turn. Figuring that, after whole weeks of failure, I'd either get the KOM or just go ahead and die already, I went the long way around the truck and blessedly the rest of the road was free, and I took it home to victory. Well, actually, I tied two other people and it's only 0.2 miles long but fuck it, I've got a crown on my profile baby! I figured I'd try to get one last KOM before I sent the Tarmac back. One day, I got a similar run of good lights leading up to another short sprint, and I went for it. I knew I'd put on more speed than usual—I got one more THWACK in—and the light at the finish line was green. Smooth sailing. And then someone on a bike ran their red light right into my path and stopped. While the Tarmac has surprisingly good brakes for a carbon-wheeled bike, there's only so much stopping skinny tires can do, and I managed to leave about a 100 foot skid on the pavement before colliding with the other cyclist at… like three miles an hour. After a series of back and forth apologies, I pedaled home and decided to hang it up. It left me in a weird spot: Yes, buying my way out of training worked, that's for sure. But the joy of riding a slow bike fast is a far different experience than riding the fastest bike as fast as I could, all the time, with people trying to race me everywhere I went. I figured it was time to hang it up before I died. Or so I thought! See, Specialized's PR folks, knowing that I was going to try to race around Brooklyn, also wanted me to test their new Roubaix, a less-aggressive bike that's designed more for smoothing out bumpy roads. (Hence why it's named after basically the most hellish race ever. If you haven't seen it, watch this video.) This new model has a shock called a FutureShock, which Specialized codesigned with McLaren, that features 20mm of travel below the stem. In addition, the seatpost is mounted deep in the frame to give 20mm of flex for your butt to move back and forth over the bumps, and the model I had came with disc brakes, which are a godsend in the stop-and-go of the city. It's kinda weird for a fast road bike, but make no mistake, there are a ton of eyes on it in the cycling world. The Tarmac is best described as some sort of high-end knife—precise, perfectly honed, dangerous in the wrong hands, but ultimately familiar—the Roubaix was the bike people talked to me about, including one friendly UPS driver who just about lost his damn mind over it. My buddy Tree—he's 6'7", if you're wondering—set it up with wider tires so I could skid and jump on it and generally be a psycho, which was freeing because unlike the Tarmac, I had an excuse for not being the fastest person in the whole damn city. Excuses, it turns out, are a freeing luxury all their own. But still, this is meant to be a bike for racing through the rough stuff, so to put it through its paces, I took it on a tour of east Brooklyn's worst roads, including about 15 miles of riding in high-speed traffic over ruts and cracks and gaps and speedbump-sized bumps. At one point Google Maps sent me onto an expressway near JFK airport—I was literally just trying to ride to the beach—and I had to hop over a five-foot sewage hole while going 25 miles an hour in traffic doing twice that. I would describe that situation as "not fun," especially because it knocked both of my water bottles off the bike with 30 miles to go, but not because of the bike, which handled the roads with aplomb, where a traditional road bike might have either bucked me off or merely buckled. Specialized's tagline for the Roubaix is something like "smoother is faster," which is true, but "smoother means not dying" is even more true and a good reason for me to like this bike. I will say that getting out of the saddle to pump or sprint on a bike with suspension in the handlebars isn't really my cup of tea—I yank the bars a lot and they bounce too much for me, and I had a persistent issue with the stem rotating out of alignment, but I think that was an issue with the stem and not the suspension cartridge—but that is also not quite the point of a bike like this. If we can go back to the beginning for a moment, time is luxury, sure, but it's also about time well spent. Perhaps it was solely due to my newfound zeal for life following the Rockaway expressway incident, but being able to finish the ride on a bike that was faster than anything else I encountered, but to do so with a modicum of comfort and relaxation, was pretty great. I don't think anyone else on the bike paths is furiously riding an internal race against existentialism, so if I can win and not shake my teeth losing doing so, I'll take it. If we can return to how, on the Tarmac, I'd ended up nearly dying at three miles an hour. I, emboldened by wine the evening prior, had picked a lake north of NYC that seemed reasonable to ride to, and woke up the next day earlier than I should have and took off solo. Once you cross the George Washington Bridge on a weekend morning, you enter into a whole new world, one populated by men in their 30s and 40s, clad in tight-fitting, garish clothing, all riding bikes you only read about in magazines up a wonderfully smooth, rolling highway to stop at one bike-friendly cafe or another before turning back. Parking the Tarmac in an unlocked gaggle of bikes worth at least $150,000 in total, I felt like I'd snuck into a club no one actually knows about. Making up for a bit of imposter anxiety the only way I knew how, I'd spent a good 15 miles racing some guy back and forth, hovering behind him like a psycho—I really probably should have said "hello," sorry dude—to pass him on the downhills, gears shifting with incredibly satisfying THWACK THWACK THWACKs. Eventually, he took a different turn than I, which was good because I was already worn out just 45 miles in, a good 35 miles or so from home. After huffing it over some hills to find this stupid lake, I turned back and ended up lost on a far hillier route than I anticipated, at which point you found me wondering if my legs might just end. I seriously thought about ditching the Tarmac, calling an Uber, and figuring out how to apologize to Specialized or disappear and never write this stupid article ever. I made it to the top of that hill, and there was another one. And at that, I had to laugh, because suffering is pretty damn fun when, in the cosmic scheme of things, it's just suffering while riding a pinnacle of engineering while lost somewhere in rich person land, thankful as hell that I wasn't wasting my day staring at a screen. I'd like to think that, even through all that suffering, I managed to still put up a good time considering I was riding a prohibitively expensive bicycle made of helium. But, sadly enough, at one point when I'd stopped to refill some water I'd forgotten to unpause the app. The worst, most fun stretch I'd had in this entire exercise didn't even get tracked, and I'll never know how well I did. But, as these things go, that was the time I most clearly remember. Luxury Week is a series about our evolving views of what constitutes luxury. Follow along here.


News Article | November 1, 2016
Site: www.prweb.com

Consumers occupy a central role in today’s healthcare system. Although U.S. hospitals and health systems recognize this role, few have put strategies in place to understand and meet consumers’ changing expectations, according to a new analysis by Kaufman, Hall & Associates, LLC, a leading provider of strategic, capital, financial, and transaction advisory services, software tools, and data analytics, in partnership with Cadent Consulting Group, LCC, a consulting firm focused on consumer strategies for profitable growth. The survey gathered responses from more than 100 U.S. hospitals and health systems, finding that a large gap exists between the priority placed on consumerism and organizations’ ability to apply consumer insights to healthcare service design. Common barriers offered by respondents include resistance to change, lack of urgency, competing priorities, and data challenges. The findings are a study in contrasts: The report also provides examples of successful consumer-focused practices. “Emerging leaders recognize that in today’s healthcare environment, consumerism it is not a program or a problem to be solved, but a key to growth,” said Paul Crnkovich, Managing Director, at Kaufman Hall. “Typically, successful organizations start with a high-impact focus area while laying the foundation for broader consumer-centric capabilities.” “Our findings show that healthcare executives recognize the many operational areas that require consumer insights, from strategic planning to site selection,” said Ken Harris, Managing Partner, Cadent Consulting Group. “The next step is for organizations to establish clear strategic and business-unit goals that ensure consumer-centric insights are developed and applied across the enterprise.” Kaufman Hall’s 2016 State of Consumerism in Healthcare report establishes a baseline for healthcare’s transition toward a stronger consumer orientation, while providing examples of how to make that transition more effectively. To access the full report, visit kaufmanhall.com/consumer. About Kaufman Hall Kaufman Hall provides management consulting services and enterprise performance management software that help organizations realize sustained success amid changing market conditions. Since 1985, we have been a trusted advisor to hospitals and health systems, helping them incorporate proven methods into their strategic planning and financial management processes and quantify the financial impact of their plans to consistently achieve their goals. Kaufman Hall helps clients identify and execute strategic initiatives that drive market and financial performance; provides financial advisory services to clients seeking capital; prepares and implements integrated strategic, financial, and capital plans; designs comprehensive capital allocation processes; and assists in the evaluation, structuring, and negotiation of partnership and divestiture opportunities. Additionally, we provide sophisticated, integrated, and intuitive software solutions for long-range planning, budgeting, forecasting, reporting, capital planning, profitability, and cost management on a single platform. About Cadent Consulting Group Cadent Consulting Group is a results focused marketing & sales consulting and analytics firm started by the founders/partners of Cannondale Associates/Kantar Retail. The Partners at Cadent are highly experienced business leaders with line management backgrounds and across-the-store, multi-channel category experience. Cadent develops strategies for growth supported by in-depth analytics and research for practical execution. Success for Cadent’s clients is measured the only way that matters: profitable and sustainable growth.


A bicycle is disclosed having a control system with a user interface and an active suspension system. The control system includes a one or more sensors arranged to measure and transmit a signal indicative of the terrain over which the bicycle is being ridden. The active suspension system includes a valve box that is fluidly coupled to each chamber of the lower cylinder. An orifice in the valve box is changed in size in response to a signal from a sensor associated with the front wheel that changes the response of the suspension system due to changing terrain conditions. The user interface includes a selection device mounted to the handlebars that allows the user to change parameters of the active suspension system during operation of the bicycle.


Unlimited Biking offers new Cannondale bikes in a range of options to meet the needs of every bike rider.


News Article | November 2, 2016
Site: www.newsmaker.com.au

This report studies Kid Bicycle in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with production, price, revenue and market share for each manufacturer, covering  Islabike  Ridgeback  Specialized Bicycle Components  Raleigh  Saracen  Boardman bikes  Mongoose  Weeride  Giant  Schwinn  SCOTT Sports  Cannondale  Trek Market Segment by Regions, this report splits Global into several key Regions, with production, consumption, revenue, market share and growth rate of Kid Bicycle in these regions, from 2011 to 2021 (forecast), like  North America  Europe  China  Japan  Southeast Asia  India Split by product type, with production, revenue, price, market share and growth rate of each type, can be divided into  Type I  Type II  Type III Split by application, this report focuses on consumption, market share and growth rate of Kid Bicycle in each application, can be divided into  Application 1  Application 2  Application 3 Global Kid Bicycle Market Research Report 2016  1 Kid Bicycle Market Overview  1.1 Product Overview and Scope of Kid Bicycle  1.2 Kid Bicycle Segment by Type  1.2.1 Global Production Market Share of Kid Bicycle by Type in 2015  1.2.2 Type I  1.2.3 Type II  1.2.4 Type III  1.3 Kid Bicycle Segment by Application  1.3.1 Kid Bicycle Consumption Market Share by Application in 2015  1.3.2 Application 1  1.3.3 Application 2  1.3.4 Application 3  1.4 Kid Bicycle Market by Region  1.4.1 North America Status and Prospect (2011-2021)  1.4.2 Europe Status and Prospect (2011-2021)  1.4.3 China Status and Prospect (2011-2021)  1.4.4 Japan Status and Prospect (2011-2021)  1.4.5 Southeast Asia Status and Prospect (2011-2021)  1.4.6 India Status and Prospect (2011-2021)  1.5 Global Market Size (Value) of Kid Bicycle (2011-2021) 7 Global Kid Bicycle Manufacturers Profiles/Analysis  7.1 Islabike  7.1.1 Company Basic Information, Manufacturing Base and Its Competitors  7.1.2 Kid Bicycle Product Type, Application and Specification  7.1.2.1 Type I  7.1.2.2 Type II  7.1.3 Islabike Kid Bicycle Production, Revenue, Price and Gross Margin (2015 and 2016)  7.1.4 Main Business/Business Overview  7.2 Ridgeback  7.2.1 Company Basic Information, Manufacturing Base and Its Competitors  7.2.2 Kid Bicycle Product Type, Application and Specification  7.2.2.1 Type I  7.2.2.2 Type II  7.2.3 Ridgeback Kid Bicycle Production, Revenue, Price and Gross Margin (2015 and 2016)  7.2.4 Main Business/Business Overview  7.3 Specialized Bicycle Components  7.3.1 Company Basic Information, Manufacturing Base and Its Competitors  7.3.2 Kid Bicycle Product Type, Application and Specification  7.3.2.1 Type I  7.3.2.2 Type II  7.3.3 Specialized Bicycle Components Kid Bicycle Production, Revenue, Price and Gross Margin (2015 and 2016)  7.3.4 Main Business/Business Overview  7.4 Raleigh  7.4.1 Company Basic Information, Manufacturing Base and Its Competitors  7.4.2 Kid Bicycle Product Type, Application and Specification  7.4.2.1 Type I  7.4.2.2 Type II  7.4.3 Raleigh Kid Bicycle Production, Revenue, Price and Gross Margin (2015 and 2016)  7.4.4 Main Business/Business Overview  7.5 Saracen  7.5.1 Company Basic Information, Manufacturing Base and Its Competitors  7.5.2 Kid Bicycle Product Type, Application and Specification  7.5.2.1 Type I  7.5.2.2 Type II  7.5.3 Saracen Kid Bicycle Production, Revenue, Price and Gross Margin (2015 and 2016)  7.5.4 Main Business/Business Overview  7.6 Boardman bikes  7.6.1 Company Basic Information, Manufacturing Base and Its Competitors  7.6.2 Kid Bicycle Product Type, Application and Specification  7.6.2.1 Type I  7.6.2.2 Type II  7.6.3 Boardman bikes Kid Bicycle Production, Revenue, Price and Gross Margin (2015 and 2016)  7.6.4 Main Business/Business Overview  7.7 Mongoose  7.7.1 Company Basic Information, Manufacturing Base and Its Competitors  7.7.2 Kid Bicycle Product Type, Application and Specification  7.7.2.1 Type I  7.7.2.2 Type II  7.7.3 Mongoose Kid Bicycle Production, Revenue, Price and Gross Margin (2015 and 2016)  7.7.4 Main Business/Business Overview  7.8 Weeride  7.8.1 Company Basic Information, Manufacturing Base and Its Competitors  7.8.2 Kid Bicycle Product Type, Application and Specification  7.8.2.1 Type I  7.8.2.2 Type II  7.8.3 Weeride Kid Bicycle Production, Revenue, Price and Gross Margin (2015 and 2016)  7.8.4 Main Business/Business Overview  7.9 Giant  7.9.1 Company Basic Information, Manufacturing Base and Its Competitors  7.9.2 Kid Bicycle Product Type, Application and Specification  7.9.2.1 Type I  7.9.2.2 Type II  7.9.3 Giant Kid Bicycle Production, Revenue, Price and Gross Margin (2015 and 2016)  7.9.4 Main Business/Business Overview  7.10 Schwinn  7.10.1 Company Basic Information, Manufacturing Base and Its Competitors  7.10.2 Kid Bicycle Product Type, Application and Specification  7.10.2.1 Type I  7.10.2.2 Type II  7.10.3 Schwinn Kid Bicycle Production, Revenue, Price and Gross Margin (2015 and 2016)  7.10.4 Main Business/Business Overview  7.11 SCOTT Sports  7.12 Cannondale  7.13 Trek

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