HRI
Jhunsi, India
HRI
Jhunsi, India

Time filter

Source Type

WASHINGTON, DC--(Marketwired - Feb 16, 2017) - Organic & Natural Health Association (Organic & Natural Health) hosted its second annual national conference Jan. 24-25 at the Pink Shell Beach Resort & Spa in Fort Myers, Florida, with 52 members and guests in attendance and announced a new nutrient initiative for 2017, in addition to a partnership with HRI Labs for a first-of-its-kind pesticide product testing program for members. Coming off a successful yearlong consumer education program, "The Power of D," that garnered more than 35 million media impressions promoting the benefits of vitamin D and encouraging consumers to get their levels tested as part of an international population-based nutrient study with research partner GrassrootsHealth, Organic & Natural Health announced it will continue to run consecutive nutrient campaigns as part of its consumer education initiative with a new nutrient focus each year under the updated campaign name, "The Power of Nutrients" (www.nutrientpower.org). The 2017 nutrient campaign will focus on omega-3 DHA and EPA and will leverage the expertise of Organic & Natural Health's Scientific Advisory Board to bring consumer attention to research backing the health benefits of omega-3 and the importance of self-testing, showing consumers how to use the omega-3 index, developed by William S. Harris, PhD, FAHA, to determine adequate levels of DHA and EPA in the bloodstream. The advisory board is led by Dr. Joseph Mercola and expert members include: Dr. Dana Cohen, Dr. Geo Espinosa, David Foreman, R.Ph., Dr. Dennis Goodman, Dr. Christine Horner, James LaValle, R.Ph., CCN, Dr. Michael Murray, N.D., and Dr. Ken Redcross. Organic & Natural Health is partnering with GrassrootsHealth, which will run the omega-3 nutrient field study and testing program being developed in partnership with member organizations Aker Bio Marine and Natural Partners' NP Script, its online patient dispensary that will enroll practitioners into the program concurrent to Organic & Natural Health's consumer awareness campaign to encourage individual participation. The at-home, self-test will determine omega-3 DHA and EPA levels as well as vitamin D levels. The program and awareness campaign launches this spring. "There are so many variables with nutrient studies it's important to do field studies to collect as much data as possible. By measuring omega-3, DHA and EPA levels along with vitamin D serum levels, we can help to pinpoint exactly what's working and what combinations of these nutrients are needed for improved outcomes for a variety of health conditions," said Carole Baggerly, director of GrassrootsHealth. "Because we are partnering with Organic & Natural Health Association we will be able to publish peer-reviewed research on the health outcomes of combining omega-3 and vitamin D supplementation." Organic & Natural Health also announced its partnership with HRI Labs to test its members' raw ingredients and finished products for pesticide residue. Organization members are being invited to voluntarily test their ingredients and products, with board member Patrick Sullivan Jr., president of Jigsaw Health, being the first to voluntarily put his product line through the testing. "As an industry we need to be proactively transparent about looking for extremely harmful and dangerous pesticides like glyphosate in our own products," said Karen Howard, CEO and executive director of Organic & Natural Health Association. "This is just one of our pro-active steps in effectively eliminating pesticides from organic and natural source materials and part of Organic & Natural Health's membership requirements to be in pursuit of non-GMO status." Organic & Natural Health will host its next conference Jan. 23-24, 2018, at the Pink Shell Beach Resort & Spa in Fort Myers, Florida. To become a member call 202-660-1345 or apply online at: http://www.organicandnatural.org.


News Article | February 28, 2017
Site: www.prnewswire.co.uk

THE 370-ROOM HARD ROCK HOTEL MALTA IS SLATED TO OPEN IN 2020 ORLANDO, Florida, Feb. 28, 2017 /PRNewswire/ -- Hard Rock International announces plans to open its third European resort, following debuts in Ibiza and Tenerife. Projected to open in 2020, the seafront Hard Rock Hotel Malta will feature 370 rooms, including 110 suites offering balcony views. The upcoming project will be part of a new mix-used development called db City Centre, which includes a shopping mall, luxury residences and modern office spaces, in the highly sought after area of St. George's Bay, St. Julian's. Hard Rock Hotel Malta is being developed in collaboration with the Malta-based Seabank Group, a partner of Hard Rock for more than 15 years. "Seabank is recognized as one of the most established hospitality companies on the island with more than 30 years of experience, which includes the ongoing management of Malta's existing Hard Rock Cafes," says Marco Roca, executive vice president of global hotel development at Hard Rock International. "Malta draws in travelers from around the world given its central Mediterranean location, idyllic charm, rich cultural history and vast array of activities – from scuba diving to exploring prehistoric temples – and we are thrilled to be part of a project that will provide travelers and locals with the country's first true entertainment destination." The upcoming Hard Rock Hotel Malta will pay homage to the 19th century British military accommodation quarters building which will be a key feature of the project's design and layout. Prior to opening, the historic site will be restored to its original glory. "In the past few years we've seen Malta's tourism sector on a steady rise, with the destination reporting nearly two million visitors in 2016," says Arthur Gauci, chief executive officer of Seabank Group. "As the world takes notice and Maltese tourism booms, we're thrilled to work with Hard Rock to bring an upscale and never-before-seen experience to the island." Catering to the unique needs of international business and leisure travelers, Hard Rock Hotel Malta will have no shortage of amenities to offer. The hotel will host various high-end food and beverage establishments, including a multi-course signature restaurant and a rooftop lounge complete with Skybar. Guests seeking to relax and retune will enjoy numerous pools and the 16,000 square feet full-service Rock Spa, as well as the state-of-the-art Body Rock fitness center. The upcoming project is set to also host a broad range of events and groups with more than 37,000 square feet of planned function space, including the largest convention center on the island. From conception to completion, the project is expected to generate 1,500 new direct jobs, and an even higher number of indirect employment opportunities. Through music appreciation and an imaginative environment, Hard Rock Hotels & Casinos delivers products for the varied aspects of life – work, play and personal sanctuary. For more information or to book a stay at any of the Hard Rock Hotels & Casinos, please visit www.hardrockhotels.com. With venues in 74 countries, including 174 cafes, 24 hotels and 11 casinos, Hard Rock International (HRI) is one of the most globally recognized companies. Beginning with an Eric Clapton guitar, Hard Rock owns the world's greatest collection of music memorabilia, which is displayed at its locations around the globe. Hard Rock is also known for its collectible fashion and music-related merchandise, Hard Rock Live performance venues and an award-winning website. HRI owns the global trademark for all Hard Rock brands. The company owns, operates and franchises Cafes in iconic cities including London, New York, San Francisco, Sydney and Dubai. HRI also owns, licenses and/or manages hotel/casino properties worldwide. Destinations include the company's two most successful Hotel and Casino properties in Tampa and Hollywood, Fl., both owned and operated by HRI parent company The Seminole Tribe of Florida, as well as other exciting locations including Bali, Chicago, Cancun, Ibiza, Las Vegas, Macau and San Diego. Upcoming new Hard Rock Cafe locations include Valencia, Innsbruck, Yangon and Chengdu. New Hard Rock Hotel projects include Abu Dhabi, Atlanta, Berlin, Dubai, London, Los Cabos, New York City, and Shenzhen, Dalian and Haikou in China. For more information on Hard Rock International, visit www.hardrock.com. The db Group (formerly known as the Seabank Group) is now Malta's leading driver in the tourism, hospitality and leisure market. Started off by Silvio Debono, a waiter, the Group now operates its own chain of db Hotels, has been successfully running the Hard Rock Cafe franchise from three outlets for the last fifteen years and has widened its portfolio to include contract catering, healthcare services, and construction amongst others.


MINNEAPOLIS, Feb. 20, 2017 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (OTCQB:BSGM), a medical device company developing the PURE EP(TM) System, a proprietary platform designed to address an unmet technology need for the $4 billion electrophysiology (EP) marketplace, announced that the manuscript entitled, “Novel Electrophysiology Signal Recording System Enables Specific Visualization of Purkinje Network and Other High-Frequency Signals” published in the Journal of the American College of Cardiology (JACC): Clinical Electrophysiology is in the top 5 most read, discussed and shared articles in 2016. BioSig Executive Chairman, Kenneth Londoner stated, “BioSig is very honored to have this article recognized by the Clinical Electrophysiology community. We have paid special focus on EP signals which are difficult to detect in today’s practice; and we are committed to continuing efforts toward our goal of improving upon diagnoses and ablation treatments for patients with complex arrhythmias.” Please visit link to Top Read Articles in JACC 2016. About BioSig Technologies BioSig Technologies is a medical device company developing a proprietary technology platform designed to improve the $4 billion electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP(TM) System. BioSig’s technology has been developed to address an unmet need in a large and growing market. The PURE EP System is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia. Data from the 2016 HRI Global Opportunities in Medical Devices & Diagnostics report shows the global Electrophysiology (EP) market revenues will grow nearly 10% annually, from currently $4 billion to approximately $6 billion by 2020 with accompanying procedure growth close to 10% annually, from 865,000 patients in 2015 to 1,350,000 in 2020. BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance and CE Mark for the PURE EP System. The Company has achieved proof of concept validation and tested its prototype at the University of California at Los Angeles (UCLA) Cardiac Arrhythmia Center, and has performed pre-clinical studies at Mayo Clinic in Minnesota and Mount Sinai Hospital in NY. The company continues to perform research and development studies in the form of an Advanced Research Program at Mayo Clinic which began in June 2016. Other prestigious cardiac arrhythmia centers including Texas Cardiac Arrhythmia Institute and UH Case Medical Center in Cleveland also play an important role in the PURE EP technology.


News Article | February 15, 2017
Site: www.prweb.com

The University of North Carolina at Greensboro (UNCG) and Phillips Foundation today officially launched the Guilford County Healthy Relationships Initiative (HRI), an original program to promote happy, healthy and safe relationships and improve quality of life across Guilford County. At a launch event held at UNCG’s new Leonard J. Kaplan Center for Wellness, the HRI team unveiled the program’s three-pronged public health approach focused on community mobilization, social marketing and educational programming. In addition, HRI introduced a month-long series of kick-off events, including a community date night, educational workshops and a family fun day at local YMCA branches. “Traditionally, relational health has been viewed as a private matter, and as a result, individuals haven’t had access to the support and resources they need to form and foster positive relationships,” said Dr. Christine Murray, director of HRI and associate professor in UNCG’s Department of Counseling and Educational Development. “HRI is changing the conversation so that relationships are seen as an important public health issue. Our goal is to be a go-to community resource for individuals, couples and families across the county.” HRI is guided by a steering committee that represents 21 community organizations. These partnerships will allow the initiative to reach a broad audience and host engaging programs and events, most of which will be offered free to the public. In addition to public programming, HRI offers free online toolkits, as well as training for Guilford County professionals. “Unhealthy relationships, particularly within families, threaten the stability of our society’s foundation,” said Elizabeth Phillips, executive director of Phillips Foundation. “With the integration of the HRI’s programming and ‘upstream’ interventions into the service platforms of our partner organizations, we plan to democratize best practices and resources from the clinic environment to the broader community. Phillips Foundation is excited to help launch this initiative to enhance a positive culture across Guilford County that values healthy relationships, ultimately preventing trauma and dysfunction in the home.” While the initial implementation plan focuses on the next four years, the long-term goal is to create a lasting, sustainable initiative that can serve as a resource for Guilford County residents and a model for communities across the United States. To learn more about HRI and upcoming events, visit guilfordhri.org. About The University of North Carolina at Greensboro The University of North Carolina at Greensboro, located in the Piedmont Triad region of North Carolina, is a high-research activity university as classified by the Carnegie Foundation. Founded in 1891 and one of the original three UNC system institutions, UNCG is one of the most diverse universities in the state with more than 19,600 students and 2,500 faculty and staff members representing more than 90 nationalities. With 86 undergraduate degrees in over 100 areas of study, as well as 52 master’s and 28 doctoral programs, UNCG is consistently recognized nationally among the top universities for academic excellence and value, with noted strengths in education, health and wellness, the performing arts, business and the arts and sciences, among others. For additional information, please visit uncg.edu and follow UNCG on Facebook, Twitter and Instagram. About Phillips Foundation Founded in 2002 and fully funded in 2014, the Phillips Foundation represents the philanthropic legacy of its founder, Kermit G. Phillips II, a successful real estate entrepreneur from Greensboro, N.C. The current Board of Trustees leverages the Phillips Foundation as a catalytic capital platform through which they support positive change through impact investing, strategic grants, and original programs. For more information, visit PhillipsFoundationNC.org. Phillips Foundation currently does not accept unsolicited grant applications.


Minneapolis, MN, Feb. 21, 2017 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (OTCQB: BSGM), a medical device company developing the PURE EP(TM) System, a proprietary platform designed to address an unmet technology need for the $4 billion electrophysiology (EP) marketplace, announced that the manuscript entitled, “Novel Electrophysiology Signal Recording System Enables Specific Visualization of Purkinje Network and Other High-Frequency Signals” published in the Journal of the American College of Cardiology (JACC): Clinical Electrophysiology is in the top 5 most read, discussed and shared articles in 2016. BioSig Executive Chairman, Kenneth Londoner stated, “BioSig is very honored to have this article recognized by the Clinical Electrophysiology community. We have paid special focus on EP signals which are difficult to detect in today’s practice; and we are committed to continuing efforts toward our goal of improving upon diagnoses and ablation treatments for patients with complex arrhythmias.” Please visit link to Top Read Articles in JACC 2016 BioSig Technologies is a medical device company developing a proprietary technology platform designed to improve the $4 billion electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig Technologies is preparing to ommercialize its PURE EP(TM) System. BioSig’s technology has been developed to address an unmet need in a large and growing market. The PURE EP System is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia. Data from the 2016 HRI Global Opportunities in Medical Devices & Diagnostics report shows the global Electrophysiology (EP) market revenues will grow nearly 10% annually, from currently $4 billion to approximately $6 billion by 2020 with accompanying procedure growth close to 10% annually, from 865,000 patients in 2015 to 1,350,000 in 2020. Procedure growth in the United States alone is projected at an 11.0% annual rate, from 250,000 in 2015 to 422,000 in 2020; accompanied by an 11.7% growth in revenues, from $1.85 billion in 2015 to $3.220 billion in 2020. BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance and CE Mark for the PURE EP System. The Company has achieved proof of concept validation and tested its prototype at the University of California at Los Angeles (UCLA) Cardiac Arrhythmia Center, and has performed pre-clinical studies at Mayo Clinic in Minnesota and Mount Sinai Hospital in NY. The company continues to perform research and development studies in the form of an Advanced Research Program at Mayo Clinic which began in June 2016. Other prestigious cardiac arrhythmia centers including Texas Cardiac Arrhythmia Institute and UH Case Medical Center in Cleveland also play an important role in the PURE EP technology.


Minneapolis, MN, Feb. 21, 2017 (GLOBE NEWSWIRE) -- BioSig Technologies, Inc. (OTCQB: BSGM), a medical device company developing the PURE EP(TM) System, a proprietary platform designed to address an unmet technology need for the $4 billion electrophysiology (EP) marketplace, today announced that its President & CEO, Mr. Gregory Cash will present at SeeThruEquity 3rd Annual Innovations Investor Conference on Wednesday, February 22, 2017 at the W Hotel South Beach, Miami. During the conference Mr. Cash will deliver the Company’s corporate presentation and discuss recent business highlights. Management will also be available for one-on-one meetings. To arrange a meeting with management, please contact Ms. Lora Mikolaitis lmikolaitis@biosigtech.com. BioSig Technologies is a medical device company developing a proprietary technology platform designed to improve the $4 billion electrophysiology (EP) marketplace (www.biosigtech.com). Led by a proven management team and a veteran, independent Board of Directors, Minneapolis-based BioSig Technologies is preparing to commercialize its PURE EP(TM) System. BioSig’s technology has been developed to address an unmet need in a large and growing market. The PURE EP System is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during procedures to diagnose and treat patients with abnormal heart rates and rhythms. BioSig’s main goal is to deliver technology to improve upon catheter ablation treatments for the prevalent and deadly arrhythmias, Atrial Fibrillation and Ventricular Tachycardia. Data from the 2016 HRI Global Opportunities in Medical Devices & Diagnostics report shows the global Electrophysiology (EP) market revenues will grow nearly 10% annually, from currently $4 billion to approximately $6 billion by 2020 with accompanying procedure growth close to 10% annually, from 865,000 patients in 2015 to 1,350,000 in 2020. Procedure growth in the United States alone is projected at an 11.0% annual rate, from 250,000 in 2015 to 422,000 in 2020; accompanied by an 11.7% growth in revenues, from $1.85 billion in 2015 to $3.220 billion in 2020. BioSig has partnered with Minnetronix on technology development and is working toward FDA 510(k) clearance and CE Mark for the PURE EP System. The Company has achieved proof of concept validation and tested its prototype at the University of California at Los Angeles (UCLA) Cardiac Arrhythmia Center, and has performed pre-clinical studies at Mayo Clinic in Minnesota and Mount Sinai Hospital in NY. The company continues to perform research and development studies in the form of an Advanced Research Program at Mayo Clinic which began in June 2016. Other prestigious cardiac arrhythmia centers including Texas Cardiac Arrhythmia Institute and UH Case Medical Center in Cleveland also play an important role in the PURE EP technology.


NEW YORK, Dec. 15, 2016 /PRNewswire/ -- According to PwC's Health Research Institute (HRI), 2017 will be a year dominated by the continued shift toward value within healthcare as the industry adapts to a new era under the administration of President-elect Donald J. Trump. Traditional...


News Article | February 15, 2017
Site: www.businesswire.com

NASHVILLE, Tenn.--(BUSINESS WIRE)--Harris Research, Inc. (HRI), parent company of home service franchise brands Chem-Dry Carpet and Upholstery Cleaning and N-Hance Wood Refinishing reported that new franchise agreements signed in 2016 was the highest in the past ten years. Increased consumer spending on home services, growing popularity of healthier and more environmentally friendly services, stronger brand differentiation and smart investments in key areas of the business were significant contributors to the increased consumer demand and franchise sales. The company expects these factors to continue to drive strong results in 2017, projecting over 230 in combined franchise sales again for this year. Chem-Dry and N-Hance sold more than 230 franchise units combined in 2016 across the U.S. and Canada. N-Hance ended the year with 97 new agreements while Chem-Dry finished the year with 135 new franchise sales — marking the fifth straight year Chem-Dry sold over 100 units and helping N-Hance more than double its system size over the last four years. “Consumer spending on home improvement and repair continues to experience annual growth as home owners are seeing increased equity value in their homes and are viewing them as great investments, many times choosing to modify existing properties rather than move or build new homes,” said HRI President and CEO Dan Tarantin. “As a result, our franchisees are having success in their markets, with both N-Hance and Chem-Dry franchisees having realized substantial revenue growth, and our system is growing, having achieved record combined franchise unit sales for the past decade. The future of the home services and remodeling industry remains strong and vibrant and our goal is to continue to be the industry leader in innovation, quality of work, customer service and healthfulness.” Over the last several years, HRI has invested in additional support and key personnel for both brands to strengthen its offerings and provide new resources for franchisees, including enhanced start-up training for new owners and advanced national marketing tools to help them drive more business. HRI also continues to make significant investments in the area of research and development that has resulted in the launch of more than 20 proprietary new and improved products to its line of superior-performing solutions and leading edge equipment – the foundation for what allows franchise owners to deliver a superior customer experience. Across the two franchise brands, there are more than 4,000 technicians and customer service representatives employed by its network of independently owned and operated units. The 2016 unit sales growth for both Chem-Dry and N-Hance created an estimated 500 new jobs. Similar job growth is projected for 2017 as the HRI brands are looking to add more operators and locations in prime markets across the country, with the greatest focus being on unserved areas. “We’re recognizing and celebrating a number of important milestones in our business. In addition to achieving the record growth we saw in 2016 and welcoming large numbers of outstanding new operators to our system, Chem-Dry is celebrating its 40th anniversary this year,” said Tarantin. “This year, we also expect N-Hance to surpass the 500-unit threshold, which is very exciting for a relatively young and fast-growing brand. I think our growth and success is tied to the fact that both N-Hance and Chem-Dry offer unique, high quality products and services that fit the discerning, healthier mindset and lifestyle of today’s customers — and we see that trend continuing in 2017 and beyond, which should continue to fuel strong growth for both of our brands.” Chem-Dry uses a green-certified solution and proprietary deeper-cleaning Hot Carbonating Extraction (HCE) process to create healthier homes and workplaces. In a study by an independent lab, Chem-Dry’s HCE cleaning method was found to remove 98 percent of common household allergens from carpets and upholstery and 89 percent of airborne bacteria when a sanitizer was added. As part of the brand’s Healthy Home initiative, it now has 42 Green Certified products. N-Hance uses proprietary solutions and refinishing techniques to restore the natural beauty of your hardwood floors, cabinets, doors and trims – at a more affordable cost than traditional remodels such as re-facing or replacing cabinets. N-Hance can also change the color of your wood surfaces to provide a whole new look with a factory-quality finish that reduces bacteria growth by 99 percent. For more information on N-Hance and Chem-Dry franchise opportunities, please visit www.nhancefranchise.com and www.chemdryfranchise.com. Harris Research is a portfolio company of Baird Capital Partners. HRI is the owner of the Chem-Dry and N-Hance franchise businesses. Chem-Dry is the world’s leading carpet and upholstery cleaning service with a network of 3,000 units in over 50 countries serving over 11,000 homes and businesses a day worldwide. Its green-certified solution and proprietary Hot Carbonating Extraction cleaning process provide a deeper clean, allow surfaces to dry faster, and leave homes healthier. N-Hance Wood Refinishing is the #1 wood refinishing company in the United States, with more than 400 locations across the U.S., Canada, Australia and New Zealand. N-Hance can restore the natural beauty of your hardwood floors, cabinets, doors and trims or can change the color of your wood surfaces to provide a whole new look with a factory-quality finish. The company’s proprietary products and refinishing techniques shorten the process and decrease the mess, offering a more convenient way to refinish your wood surfaces. Founded in 2001, N-Hance Wood Refinishing is a trusted partner of the Home Depot, with a presence in more than 1,400 locations.


BONITA SPRINGS, Fla.--(BUSINESS WIRE)--Herc Holdings Inc. (NYSE: HRI) (“Herc Holdings” or the “Company”) today reported preliminary financial results for the fourth quarter and full year ended December 31, 2016. Equipment rental revenues were $356.7 million and total revenues were $405.2 million in the fourth quarter of 2016, compared with $359.2 million and $422.4 million, respectively, for the same period last year. The Company reported a net loss of $14.0 million, or $0.49 per diluted share, for the fourth quarter, compared to net income of $78.2 million, or $2.68 per diluted share, for the same period last year. The fourth quarter net loss was primarily attributed to increased costs resulting from the spin-off and stand-alone costs, including an increase in interest expense and depreciation. Although upstream oil and gas markets continued to be a challenge, the year-over-year decline in these markets in the fourth quarter was less than in the third quarter. In addition, in 2015, we recognized a gain of $50.9 million on the sale of operations in France and Spain, which were divested in October 2015. “This year was a critical milestone in our ongoing business transformation process,” said Larry Silber, president and chief executive officer. “Our strategy, which includes a number of initiatives, programs and actions, is beginning to show results on behalf of our customers, employees and shareholders. In the fourth quarter, we achieved growth in equipment rental revenues in our key markets of 6.2% and improved pricing in those markets by 1.5% compared with the prior year. “The ongoing shift in our fleet mix is positioning our business for long-term success. The rollout of our ProContractor Tools™ and ProSolutions™ equipment and services expands and diversifies our fleet and enhances our ability to provide a wide array of equipment to meet our customers’ equipment needs. In addition, new and upgraded technologies, including our ProControl™ telematics system that rolled out in the fourth quarter, further enhances the value we offer customers. We remain confident in our business strategy, our people and the growth opportunities ahead,” said Silber. The Company has filed a Form 12b-25 with the Securities and Exchange Commission (“SEC”) today providing for a 15-day extension for filing its Annual Report on Form 10-K for the year ended December 31, 2016 (the “Form 10-K”). On June 30, 2016, the Company separated from Hertz Rental Car Holding Company, Inc. (the “Spin-Off”). Typically, a new public company is not required to report on the effectiveness of its internal control over financial reporting (“ICFR”) in its first year-end report. However, due to the structure of the Spin-Off, even though the Company is considered the spinnee or divested entity for accounting purposes, management nevertheless is required to assess and report for the first time on the Company’s ICFR as of December 31, 2016 based on management’s risk assessment and lower materiality levels as a stand-alone company. Because a significant number of business process controls had to be established, documented and tested for the first time, management was not able to complete this assessment by March 1, 2017, the deadline for filing the Form 10-K. Although management has not finalized its assessment of the effectiveness of the Company’s ICFR, the Company believes management’s assessment will conclude that the Company did not maintain effective ICFR as of December 31, 2016, because material weaknesses that existed at the time of the Spin-Off were not fully remediated and because management identified new material weaknesses relating to ineffective controls over revenue recognition and the ineffective design of controls over certain IT systems that are relevant to the preparation of the Company’s financial statements. Management may identify other material weaknesses in the Company’s ICFR as management completes its assessment of ICFR. While material weaknesses create a reasonable possibility that a misstatement in financial reporting may go undetected, after review and analysis, no restatement of or other material adjustments, or revisions to previously issued financial statements, or to the results reported in this press release, currently are expected to be required. The Company expects to finalize its financial results and assessment of ICFR and file its Form 10-K within the prescribed time allowed pursuant to Rule 12b-25. Please refer to the Form 12b-25 filed with the SEC today for additional information. Under the terms of the indenture for its senior notes, the Company gave notice of the redemption of $61.0 million in aggregate principal amount of the 2022 senior notes and $62.5 million in aggregate principal amount of the 2024 senior notes at a redemption price of 103% of the aggregate principal amount plus accrued and unpaid interest. The Company intends to draw down on its asset-backed loan facility to fund the redemption price. The redemption date will be March 10, 2017. “Our 2017 guidance is based on a 3.5% growth rate in the North American equipment market and the anticipated positive impact of our strategic initiatives. We plan to continue to adjust our fleet mix as we grow the fleet during the year and drive improvement in our utilization rates. We are confident that we have the right strategy and the right fleet plan to take advantage of market growth while improving our profitability and achieving adjusted EBITDA growth,” added Silber. Based on the Company’s planning assumptions, full year 2017 guidance is as follows: The Company does not provide forward-looking guidance for certain financial measures on a GAAP basis or a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures on a forward-looking basis because it is unable to predict certain items contained in the GAAP measures without unreasonable efforts. Certain items that impact net income (loss) cannot be predicted with reasonable certainty, such as restructuring and restructuring related charges, special tax items, borrowing levels (which affect interest expense), gains and losses from asset sales, the ultimate outcome of pending litigation and spin-related costs. Herc Holdings’ fourth quarter 2016 earnings webcast will be held on March 1, 2017, at 8:30 a.m. U.S. Eastern Time. Interested U.S. parties may call +1-877-883-0383 and international participants should call +1-412-902-6506, using the access code: 0404317. Please dial in at least 10 to 15 minutes before the call start time to ensure that you are connected to the call and to register your name and company. Those who wish to listen to the live conference call and view the accompanying presentation slides should visit the Events and Presentations tab of the Investor Relations section of the Company’s website at IR.HercRentals.com. The press release and presentation slides for the call will be posted to this section of the website prior to the call. A replay of the conference call will be available via webcast on the company website at IR.HercRentals.com, where it will be archived for two weeks after the call. A telephonic replay will be available for one week. To listen to the archived call by telephone, U.S. participants should dial + 1-877-344-7529 and international participants + 1-412-317-0088 and enter conference ID number 10099578. Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with approximately 270 company-operated locations, principally in North America. With more than 50 years of experience, Herc Holdings is a full-line equipment-rental supplier in key markets, including commercial and residential construction, industrial and manufacturing, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture, as well as refineries and petrochemicals. The equipment rental business is supported by ProSolutions™ (our industry-specific solutions-based services), and our professional grade tools, commercial vehicles, and pump, power and climate control product offerings, all of which are aimed at helping customers work more efficiently, effectively and safely. The Company has approximately 4,800 employees. Herc Holdings’ 2016 total revenues were approximately $1.6 billion. All references to “Herc Holdings” or the “Company” in this press release refer to Herc Holdings Inc. and its subsidiaries, unless otherwise indicated. For more information on Herc Holdings and its products and services, visit: www.HercRentals.com. In this release we refer to the following operating measures: The financial results discussed in this press release are preliminary and unaudited and subject to change as the Company’s financial results are finalized. The financial information included in this press release is based upon the condensed, consolidated and combined financial statements of the Company which are presented on a basis of accounting that reflects a change in reporting entity and have been adjusted for the effects of the spin-off, which effected our separation from Hertz Rental Car Holding Company, Inc. (“New Hertz”). These financial statements represent only those operations, assets, liabilities and equity that form Herc Holdings on a stand-alone basis. Since the spin-off occurred on June 30, 2016, the financial statements represent the carve-out financial results for the Company for the first six months of 2016, including spin-off impacts through June 30, 2016, and actual results for the second half of 2016, including the three months ended December 31, 2016. All prior period amounts represent carve-out financial results. This release contains statements, including those under “2017 Guidance” and “Bond Redemption” that are not statements of historical fact, but instead are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We caution readers not to place undue reliance on these statements, which speak only as of the date hereof. There are a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those suggested by our forward-looking statements, including: All forward-looking statements are expressly qualified in their entirety by such cautionary statements. We do not undertake any obligation to release publicly any update or revision to any of the forward-looking statements. In addition to results calculated according to accounting principles generally accepted in the United States (“GAAP”), the Company has provided certain information in this release which is not calculated according to GAAP (“non-GAAP”), such as adjusted EBITDA. Management uses these non-GAAP measures to evaluate operating performance and period-over-period performance of our core business without regard to potential distortions, and believes that investors will likewise find these non-GAAP measures useful in evaluating the Company’s performance. These measures are frequently used by security analysts, institutional investors and other interested parties in the evaluation of companies in our industry. Non-GAAP measures should not be considered in isolation or as a substitute for our reported results prepared in accordance with GAAP and, as calculated, may not be comparable to similarly titled measures of other companies. For the definitions of these terms, further information about management’s use of these measures as well as a reconciliation of these non-GAAP measures to the most comparable GAAP financial measures, please see the supplemental schedules that accompany this release. EBITDA and adjusted EBITDA are not recognized terms under GAAP and should not be considered in isolation or as a substitute for our reported results prepared in accordance with GAAP. Further, since all companies do not use identical calculations, our definition and presentation of these measures may not be comparable to similarly titled measures reported by other companies. EBITDA and Adjusted EBITDA - EBITDA represents the sum of net income (loss), provision for income taxes, interest expense, net, depreciation of revenue earning equipment and non-rental depreciation and amortization. Adjusted EBITDA represents EBITDA plus the sum of merger and acquisition related costs, restructuring and restructuring related charges, spin-off costs, non-cash stock based compensation charges, loss on extinguishment of debt, impairment charges, gain on the disposal of a business and certain other items. Management uses EBITDA and adjusted EBITDA to evaluate operating performance and period-over-period performance of our core business without regard to potential distortions, and believes that investors will likewise find these non-GAAP measures useful in evaluating the Company’s performance. These measures are frequently used by security analysts, institutional investors and other interested parties in the evaluation of companies in our industry. However, EBITDA and adjusted EBITDA do not purport to be alternatives to net earnings as an indicator of operating performance. Additionally, neither measure purports to be an alternative to cash flows from operating activities as a measure of liquidity, as they do not consider certain cash requirements such as interest payments and tax payments. The reconciliation of EBITDA and adjusted EBITDA to net income (loss) is presented below (in millions):


News Article | February 22, 2017
Site: www.businesswire.com

BONITA SPRINGS, Fla.--(BUSINESS WIRE)--Herc Holdings Inc. (NYSE:HRI) will host a live webcast discussion of its 2016 fourth quarter financial results on Wednesday, March 1, 2017, beginning at 8:30 a.m., U.S. Eastern Time. The company plans to issue a press release with financial results prior to the call on Wednesday. Shareholders and other interested parties may participate in the call by using the following dial-in numbers: Please dial in at least 10 to 15 minutes before the call start time to ensure that you are connected to the call and to register your name and company. Those who wish to listen to the live conference call and view the accompanying presentation slides should visit the Events and Presentations tab of the Investor Relations section of the company’s website at IR.HercRentals.com. The press release and presentation slides for the call will be posted to this section of the website prior to the call. A replay of the conference call will be available via webcast on the company website at IR.HercRentals.com, where it will be archived for two weeks after the call. A telephonic replay will be available for one week. To listen to the archived call by telephone, U.S. participants should dial + 1-877-344-7529 and international participants + 1-412-317-0088 and enter conference ID number 10099578. Herc Holdings Inc., which operates through its Herc Rentals Inc. subsidiary, is one of the leading equipment rental suppliers with approximately 270 company-operated locations, principally in North America. With more than 50 years of experience, Herc Holdings is a full-line equipment-rental supplier in key markets, including commercial and residential construction, industrial and manufacturing, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture, as well as refineries and petrochemicals. The equipment rental business is supported by ProSolutionsTM (our industry-specific solutions-based services), and our professional grade tools, commercial vehicles, and pump, power and climate control product offerings, all of which are aimed at helping customers work more efficiently, effectively and safely. The company has approximately 4,800 employees. Herc Holdings’ 2015 total revenues were nearly $1.7 billion. All references to “Herc Holdings” or the “Company” in this press release refer to Herc Holdings and its subsidiaries, unless otherwise indicated. For more information on Herc Holdings and its products and services, visit: www.HercRentals.com.

Loading HRI collaborators
Loading HRI collaborators