News Article | February 28, 2017
LISLE, Ill.--(BUSINESS WIRE)--Molex has earned recognition as a Partner-level supplier for 2016 in the John Deere Achieving Excellence Program. The Partner-level status is Deere & Company’s highest supplier rating and is reserved for suppliers who go above and beyond performance standards, reaching world-class levels, and have a measurable effect on customer satisfaction. The electronic components and solutions provider was selected for the honor in recognition of its dedication to providing products and service of outstanding quality as well as its commitment to continuous improvement. Company employees accepted the recognition at the John Deere Supplier Conference on January 11 in Moline, IL. Molex participates in the John Deere Achieving Excellence (AE) program at the John Deere Electronic Solutions (JDES) division in Fargo, ND. “Molex is proud to be recognized by Deere & Company for our efforts to maintain a successful business relationship and contribute to the superior level of quality of its products and services,” said Bruce Lindahl, worldwide account manager, Molex. “The Achieving Excellence Program provides an outstanding framework for teamwork and communication as we pursue a shared vision and commitment to continuous improvement.” Suppliers who participate in the Achieving Excellence program are evaluated annually in several key performance categories, including quality, cost management, delivery, technical support and wavelength, which is a measure of a supplier’s initiative to support the business relationship. John Deere Supply Management created the program in 1991 to provide a supplier evaluation and feedback process that promotes continuous improvement. Molex brings together innovation and technology to deliver electronic solutions to customers worldwide. With a presence in more than 40 countries, Molex offers a full suite of solutions and services for many markets, including data communications, consumer electronics, medical, industrial, automotive, and commercial vehicle. For more information, please visit www.molex.com. Molex is a registered trademark of Molex, LLC in the United States of America and may be registered in other jurisdictions.
News Article | February 21, 2017
News Article | February 23, 2017
HIPOWER SYSTEMS, a manufacturer of power-generation and power distribution equipment in the U.S. and Canada, today announced it will be showcasing its portable generators and other equipment at CONEXPO-CON/AGG, March 7-11, 2017 in Las Vegas. The company’s exhibit will be at Booth B8205 in the Bronze Lot, which is located on the south end of the Convention Center adjacent to South Road. The display will include diesel generators with engines from John Deere and Yanmar, as well as one of HIPOWER SYSTEMS’ clean-burning, energy efficient Waukesha natural gas generators. “For construction-related industries, from mining to utilities and beyond, dependability and longevity of power supply is paramount,” said HIPOWER SYSTEMS President Rafael Acosta. “We are pleased to have the opportunity to showcase our top-quality, field-proven equipment for the benefit of attendees.” Although HIPOWER SYSTEMS’ parent firm, HIMOINSA, entered the U.S. market barely a decade ago, the company’s equipment has already gained a stellar reputation for being reliable in the harshest of conditions, with designs that facilitate easy maintenance, portability, parallel configurations, and other high-demand features. "As a leading global manufacturer, HIPOWER SYSTEMS offers a full line of power products—from prime portable power systems and industrial standby generators to power distribution equipment, cables and accessories—something for everyone at this show,” said Josh Mosko, HIPOWER SYSTEMS VP of Sales & Marketing. “We look forward to speaking with clients and attendees to discuss how we can add value and engineer a solution to meet their needs and the needs of their customers with reliable, quality equipment.” For the show, the company selected generators in a broad range of power ratings, from 40 to 408 KW. All are powered by radiator-cooled, EPA-compliant* industrial engines driving a four-pole, three-phase alternator with IP23 protection. Display models are built with HIPOWER SYSTEMS’ industry-leading enclosures, which feature compact footprints, sound dampening, oil-resistant, washable rock-wool insulation, watertight, easy-access doors, and convenient power distribution panels with Camlok connectors and receptacles. All are also NEMA 3R and/or NEMA 4X, UL50 rated, making them perfectly suited to the rigors of outdoor usage. HRYW-50: Rated at 40 KW prime, the HRYW-50 is powered by a reliable Yanmar industrial diesel engine and certified by the Canadian Standards Association. It measures approximately 3’ x 7’ and weighs 2600 pounds. HRJW-145: Rated at 117 KW prime, the HRJW-145 is powered by a top-rated John Deere diesel engine and certified by the Canadian Standards Association. It measures approximately 4’ x 9’ and weighs 5300 pounds. HRJW-205: Rated at 165 KW prime, the HRJW-165 is powered by a top-rated John Deere diesel engine and certified by the Canadian Standards Association. It measures approximately 4’ x 11’ and weighs 6800 pounds. HRNG-510: Rated at 408 KW prime, the HRNG-510 is powered by a super-energy-efficient, EPA certified, Waukesha industrial gaseous engine, making it both environmentally friendly and cost-effective to operate. It measures approximately 7’ x 19’ and weighs 23,000 pounds. HIPOWER SYSTEMS (a division of Himoinsa, S.L.; a member of the YANMAR Co. Ltd group of companies) is the principal supplier of power distribution and prime, standalone power-generation equipment and packages to the U.S. and Canadian markets, serving the Residential, Commercial and Industrial sectors including the Agriculture, Telecommunications, Health Care and Oil & Gas Industries. The company builds and customizes backup generators, diesel generators, natural gas generators and alternative bi-fuel generator sets from 8 KW to 3 MW with a complete range of accessories, including automatic transfer switches, paralleling switchgear, UL tanks, enclosures and power distribution equipment. In North America and throughout the globe, our rental packages and power distribution equipment are recognized as the best power solution source for emergency and disaster relief. For more information, visit http://www.hipowersystems.com.
News Article | March 2, 2017
— This report studies sales (consumption) of Outdoor Power Equipment in Global market, especially in United States, China, Europe, Japan, focuses on top players in these regions/countries, with sales, price, revenue and market share for each player in these regions, covering Market Segment by Regions, this report splits Global into several key Regions, with sales (consumption), revenue, market share and growth rate of Outdoor Power Equipment in these regions, from 2011 to 2021 (forecast), like Split by product Types, with sales, revenue, price and gross margin, market share and growth rate of each type, can be divided into Lawnmowers Turf & Grounds Equipment Trimmers & Edgers Other Products Split by applications, this report focuses on sales, market share and growth rate of Outdoor Power Equipment in each application, can be divided into Application 1 Application 2 Application 3 Global Outdoor Power Equipment Sales Market Report 2016 1 Outdoor Power Equipment Overview 1.1 Product Overview and Scope of Outdoor Power Equipment 1.2 Classification of Outdoor Power Equipment 1.2.1 Lawnmowers 1.2.2 Turf & Grounds Equipment 1.2.3 Trimmers & Edgers 1.2.4 Other Products 1.3 Application of Outdoor Power Equipment 1.3.1 Application 1 1.3.2 Application 2 1.3.3 Application 3 1.4 Outdoor Power Equipment Market by Regions 1.4.1 United States Status and Prospect (2011-2021) 1.4.2 China Status and Prospect (2011-2021) 1.4.3 Europe Status and Prospect (2011-2021) 1.4.4 Japan Status and Prospect (2011-2021) 1.5 Global Market Size (Value and Volume) of Outdoor Power Equipment (2011-2021) 1.5.1 Global Outdoor Power Equipment Sales and Growth Rate (2011-2021) 1.5.2 Global Outdoor Power Equipment Revenue and Growth Rate (2011-2021) 7 Global Outdoor Power Equipment Manufacturers Analysis 7.1 John Deere 7.1.1 Company Basic Information, Manufacturing Base and Competitors 7.1.2 Outdoor Power Equipment Product Type, Application and Specification 18.104.22.168 Type I 22.214.171.124 Type II 7.1.3 John Deere Outdoor Power Equipment Sales, Revenue, Price and Gross Margin (2011-2016) 7.1.4 Main Business/Business Overview 7.2 TORO 7.2.1 Company Basic Information, Manufacturing Base and Competitors 7.2.2 114 Product Type, Application and Specification 126.96.36.199 Type I 188.8.131.52 Type II 7.2.3 TORO Outdoor Power Equipment Sales, Revenue, Price and Gross Margin (2011-2016) 7.2.4 Main Business/Business Overview 7.3 MTD 7.3.1 Company Basic Information, Manufacturing Base and Competitors 7.3.2 135 Product Type, Application and Specification 184.108.40.206 Type I 220.127.116.11 Type II 7.3.3 MTD Outdoor Power Equipment Sales, Revenue, Price and Gross Margin (2011-2016) 7.3.4 Main Business/Business Overview 7.4 Craftsman 7.4.1 Company Basic Information, Manufacturing Base and Competitors 7.4.2 Nov Product Type, Application and Specification 18.104.22.168 Type I 22.214.171.124 Type II 7.4.3 Craftsman Outdoor Power Equipment Sales, Revenue, Price and Gross Margin (2011-2016) 7.4.4 Main Business/Business Overview 7.5 Black & Decker(Stanley) 7.5.1 Company Basic Information, Manufacturing Base and Competitors 7.5.2 Product Type, Application and Specification 126.96.36.199 Type I 188.8.131.52 Type II 7.5.3 Black & Decker(Stanley) Outdoor Power Equipment Sales, Revenue, Price and Gross Margin (2011-2016) 7.5.4 Main Business/Business Overview 7.6 Briggs & Stratton 7.6.1 Company Basic Information, Manufacturing Base and Competitors 7.6.2 Million USD Product Type, Application and Specification 184.108.40.206 Type I 220.127.116.11 Type II 7.6.3 Briggs & Stratton Outdoor Power Equipment Sales, Revenue, Price and Gross Margin (2011-2016) 7.6.4 Main Business/Business Overview 7.7 Blount 7.7.1 Company Basic Information, Manufacturing Base and Competitors 7.7.2 Machinery & Equipment Product Type, Application and Specification 18.104.22.168 Type I 22.214.171.124 Type II 7.7.3 Blount Outdoor Power Equipment Sales, Revenue, Price and Gross Margin (2011-2016) 7.7.4 Main Business/Business Overview 7.8 Ariens 7.8.1 Company Basic Information, Manufacturing Base and Competitors 7.8.2 Product Type, Application and Specification 126.96.36.199 Type I 188.8.131.52 Type II 7.8.3 Ariens Outdoor Power Equipment Sales, Revenue, Price and Gross Margin (2011-2016) 7.8.4 Main Business/Business Overview 7.9 Remington 7.9.1 Company Basic Information, Manufacturing Base and Competitors 7.9.2 Product Type, Application and Specification 184.108.40.206 Type I 220.127.116.11 Type II 7.9.3 Remington Outdoor Power Equipment Sales, Revenue, Price and Gross Margin (2011-2016) 7.9.4 Main Business/Business Overview 7.10 MAT Engine Technologies 7.10.1 Company Basic Information, Manufacturing Base and Competitors 7.10.2 Product Type, Application and Specification 18.104.22.168 Type I 22.214.171.124 Type II 7.10.3 MAT Engine Technologies Outdoor Power Equipment Sales, Revenue, Price and Gross Margin (2011-2016) 7.10.4 Main Business/Business Overview 7.11 Brinly-Hardy 7.12 McLane 7.13 Sun Joe 7.14 American Lawn Mower 7.15 Husqvarna 7.16 STIHL 7.17 EMAK 7.18 Honda 7.19 Makita 7.20 ECHO For more information, please visit https://www.wiseguyreports.com/sample-request/751452-global-outdoor-power-equipment-sales-market-report-2016
News Article | February 28, 2017
ROCHELLE PARK, N.J.--(BUSINESS WIRE)--ORBCOMM Inc. (Nasdaq:ORBC), a global provider of Machine-to-Machine (M2M) and Internet of Things (IoT) solutions, today announced that its Chief Financial Officer, Robert Costantini, will be participating in the 38th Annual Raymond James Institutional Investors Conference at the JW Marriott Grande Lakes in Orlando, Florida. Mr. Costantini will be presenting on Monday, March 6 at 7:30 AM Eastern Time. The audio portion of the presentation can be accessed at http://wsw.com/webcast/rj104/orbc. ORBCOMM Inc. (Nasdaq: ORBC) is a leading global provider of Machine-to-Machine (M2M) and Internet of Things (IoT) communication solutions and the only commercial satellite network dedicated to M2M. ORBCOMM’s unique combination of global satellite, cellular and dual-mode network connectivity, hardware, web reporting applications and software is the M2M industry’s most complete service offering. Our solutions are designed to remotely track, monitor, and control fixed and mobile assets in core vertical markets including transportation & distribution, heavy equipment, industrial fixed assets, oil & gas, maritime, mining and government. With close to two decades of innovation and expertise in M2M, ORBCOMM has more than 1.72 million subscribers with a diverse customer base including premier OEMs such as Caterpillar Inc., Doosan Infracore America, Hitachi Construction Machinery Co., Ltd., John Deere, Komatsu Ltd., and Volvo Construction Equipment, as well as end-to-end solutions customers such as C&S Wholesale, Canadian National Railways, CR England, Hub Group, KLLM Transport Services, Marten Transport, Swift Transportation, Target, Tropicana, Tyson Foods, Walmart, Union Pacific Railroad and Werner Enterprises. For more information, visit www.orbcomm.com. Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, objectives and expectations for future events and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Such forward-looking statements, including those concerning the Company’s expectations, are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from the results, projected, expected or implied by the forward-looking statements, some of which are beyond the Company’s control, that may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. In addition, specific consideration should be given to various factors described in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and elsewhere in our Annual Report on Form 10-K, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law.
News Article | February 28, 2017
ROCHELLE PARK, N.J.--(BUSINESS WIRE)--ORBCOMM Inc. (NASDAQ:ORBC), a global provider of Internet of Things (IoT) solutions, today announced financial results for the fourth quarter and full year ended December 31, 2016. The following financial highlights are in thousands of dollars. “In 2016 we continued to introduce innovative solutions for transportation, logistics and heavy equipment, which we expect will continue to positively impact the business in 2017 and beyond. These include several new products, customers, partners, and geographic territories,” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “We continue to leverage the strong momentum for IoT as companies across all industries are adopting IoT solutions central to their core strategy. We believe we are in a strong position to execute on these new opportunities.” “In the fourth quarter Service Revenues increased 8.4% to $29.4 million, capping off a strong 2016 that saw Service Revenues increase 13% overall lifted by both acquisitions and organic growth,” said Robert Costantini, ORBCOMM’s Chief Financial Officer. “Adjusted EBITDA for the quarter of $12.5 million at improving margins of 26.6% was driven by high incremental margin Service Revenues.” For more information on recent highlights, please visit www.orbcomm.com. For the fourth quarter ended December 31, 2016, Service Revenues were up 8% over the prior year period to $29.4 million. The increase in Service Revenues in Q4 this year was driven by both organic growth and our most recent acquisitions. Organic growth of 4% benefited from the OG2 satellite constellation as well as our growing subscriber base across multiple lines of business. For the full year 2016, Service Revenues were $112.9 million compared to $100.0 million in 2015, an increase of $12.9 million or 12.9%. Product Sales during the fourth quarter of 2016 were $17.4 million compared to $17.9 million during the same period last year, decreasing ($0.5) million or 2.5%. Product Sales were lower largely due to the timing of deployments and delays in obtaining the required LTE product certifications, which resulted in a shift of about 10,000 units of backlog or $3-4 million to the first quarter of 2017. Product Sales for the full year 2016 were $73.9 million compared to $78.3 million in 2015, a decrease of ($4.5) million or 5.7%. Total Revenues of $46.8 million for the fourth quarter ended December 31, 2016 were up $1.8 million or 4.1% compared to $45.0 million during the same period of 2015. Total Revenues for the full year 2016 were $186.7 million compared to $178.3 million in 2015, an increase of 4.7%, led by double digit Service Revenue growth. Total Cost of Revenues and Operating Expenses for the fourth quarter of 2016 were $47.5 million compared to $42.6 million during the same period in 2015. Cost of Revenues, exclusive of Depreciation and Amortization, increased $1.0 million or 2.8% year-over-year largely due to higher Cost of products sold. For the quarter, Cost of services, excluding Depreciation and Amortization, increased 2.8% to $9.6 million and as a percentage of Service Revenues decreased to 32.6% or 170 basis points lower than the fourth quarter of 2015 improving Service margins this quarter to 67.4%. Operating Expenses for the full year were higher primarily due to higher Depreciation and Amortization and non-labor related SG&A expenses. For the full year, Selling, general and administrative expense and Product development expenses increased 4.5% to $53.2 million. Total Cost of Revenues and Operating Expenses for the full year 2016 were $201.2 million or 8.5% higher than last year’s $185.5 million. However, Total Cost of Revenues and Operating Expenses, exclusive of Depreciation and Amortization, decreased $0.5 million or 0.3% compared to last year, and as a percentage of Total Revenues declined to 84.8% from 89.1% last year. Fiscal 2016 results include an impairment charge of ($10.7) million to write-off the net book value of one of the in-orbit OG2 satellites as of September 30, 2016 that was launched in July 2014 where communication was lost. The loss of this one satellite is not expected to have a material impact on network communications services or our financials going forward. The Company believes the loss of communication is likely specific to this one satellite. Income (Loss) Before Income Taxes, Net Income (Loss), and Earnings Per Share Income (Loss) Before Income Taxes for the fourth quarter of 2016 was a ($2.9) million loss, compared to the $1.2 million profit for the fourth quarter of 2015. For the full year 2016, the Loss Before Income Taxes was ($22.7) million compared to a loss of ($11.8) million in 2015, reflecting higher Depreciation and Amortization of ($16.2) million in 2016, partially offset by a lower satellite impairment charge in 2016 of $2.1 million. Net (Loss) Income attributable to ORBCOMM Inc. Common Stockholders was ($3.2) million Net Loss for the fourth quarter of 2016, compared to Net Income of $0.2 million for the same period in 2015. Basic EPS was a loss of ($0.05) per share for the fourth quarter of 2016 versus $0.00 per share for the same period last year. Net (Loss) attributable to ORBCOMM Inc. Common Stockholders was ($23.5) million for the full year 2016 compared to a loss of ($13.3) million in 2015. Basic EPS was a loss of ($0.33) per share for the full year 2016 versus a loss of ($0.19) per share for 2015. Net Income (Loss) – Ex-Items, attributable to ORBCOMM Inc. Common Stockholders and Basic EPS – Ex-Items are non-GAAP financial measures used by the Company. Please see the financial tables at the end of the release for a reconciliation of Net Income (Loss) – Ex-Items, attributable to ORBCOMM Inc. Common Stockholders and Basic EPS – Ex-Items. EBITDA for the fourth quarter of 2016 was $10.5 million compared to $9.5 million in the fourth quarter of 2015. For the full year 2016, EBITDA was $28.5 million compared to $19.4 million in 2015, an increase of $9.1 million or 46.7%. Adjusted EBITDA of $12.5 million for the fourth quarter of 2016 was 4.9% higher than last year’s $11.9 million in the fourth quarter. Adjusted EBITDA as a percentage of Total Revenues for the quarter was 26.6% or 21 basis points better than last year’s fourth quarter. For the full year 2016, Adjusted EBITDA was $47.3 million compared to $42.3 million for 2015, an increase of $4.9 million or 11.7%. Adjusted EBITDA as a percentage of Total Revenues for the full year was 25.3% or 157 basis points better than last year. EBITDA and Adjusted EBITDA are non-GAAP financial measures used by the Company to measure operating performance and the quality of earnings. Please see the financial tables at the end of the release for a reconciliation of EBITDA and Adjusted EBITDA. At December 31, 2016, Cash and Cash Equivalents totaled $25.0 million, compared to $28.1 million at December 31, 2015 that included $1.0 million in Restricted Cash, decreasing ($3.1) million. The cash decline was partially offset by the $28.9 million of Cash generated by operations for 2016. Cash invested in Capital Expenditures was ($28.4) million, of which ($8.3) million was due to the completion of milestone and insurance payments for the OG2 program related to the final launch in late 2015 and includes ($1.6) million of capitalized interest. In addition, we paid ($3.8) million for the Skygistics acquisition in the second quarter of 2016. ORBCOMM will host a conference call and webcast for the investment community this morning at 8:30 AM ET. Senior management will review the results, discuss ORBCOMM’s business, and address questions. To access the call, domestic participants should dial 1-888-312-3052 at least ten minutes prior to the start of the call. International callers should dial 1-719-325-2298. To hear a live web simulcast or to listen to the archived webcast following completion of the call, please visit the Company’s website at http://investors.orbcomm.com and then select “News & Events” to access the link to the call. To listen to a replay of the conference call, please visit https://event.mymeetingroom.com/Public/WebRegistration/Y29uZmVyZW5jZUlkPTYwNTA3ODgmdHlwZT1yZXBsYXkmbGFuZ3VhZ2U9ZW5nbGlzaA The replay will be available from approximately 1:30 PM ET on February 28, 2017, through 1:30 PM ET on March 14, 2017. ORBCOMM Inc. (Nasdaq: ORBC) is a leading global provider of Machine-to-Machine (M2M) communication solutions and the only commercial satellite network dedicated to M2M. ORBCOMM’s unique combination of global satellite, cellular and dual-mode network connectivity, hardware, web reporting applications and software is the M2M industry’s most complete service offering. Our solutions are designed to remotely track, monitor, and control fixed and mobile assets in core vertical markets including transportation & distribution, heavy equipment, industrial fixed assets, oil & gas, maritime, mining and government. With close to two decades of innovation and expertise in M2M, ORBCOMM has more than 1.7 million subscribers with a diverse customer base including premier OEMs such as Caterpillar Inc., Doosan Infracore America, Hitachi Construction Machinery Co., Ltd., John Deere, Komatsu Ltd., and Volvo Construction Equipment, as well as end-to-end solutions customers such as C&S Wholesale, Canadian National Railways, CR England, Hub Group, KLLM Transport Services, Marten Transport, Swift Transportation, Target, Tropicana, Tyson Foods, Walmart, Union Pacific Railroad and Werner Enterprises. For more information, visit www.orbcomm.com. Certain statements discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to our plans, estimates, objectives and expectations for future events, as well as projections, business trends and other statements that are not historical facts. Such forward-looking statements are subject to known and unknown risks and uncertainties, some of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include but are not limited to: demand for and market acceptance of our products and services and our ability to successfully implement our business plan; our dependence on our subsidiary companies (Market Channel Affiliates (MCAs)) and third party product and service developers and providers, distributors and resellers (Market Channel Partners (MCPs)) to develop, market and sell our products and services, especially in markets outside the United States; substantial losses we have incurred and may continue to incur; the inability to effect suitable investments, alliances and acquisitions, and even if we are able to make acquisitions, the failure to integrate and effectively operate the acquired businesses and the exposure to additional risks, such as unexpected costs, contingent or other liabilities, or weaknesses in internal controls, and issues related to non-compliance with domestic and foreign laws, particularly in acquisitions of foreign businesses; our dependence on a few significant customers for a substantial portion of our revenues, including key customers such as Caterpillar Inc., Komatsu Ltd., Hub Group, Onixsat and Satlink S.L.; our ability to expand our business outside the United States, including risks related to the economic, political and other conditions in foreign countries in which we do business, including fluctuations in foreign currency exchange rates; our dependence on a few significant vendors, service providers or suppliers, as well as the loss or disruption or slowdown in the supply of products and services these key vendors, such as our SkyWave business’s dependence on its commercial relationship with Inmarsat plc and the services provided by Inmarsat plc, including the continued availability of Inmarsat plc’s satellites, the supply of subscriber communicators from Sanmina Corporation and Quake Global, or the supply of application specific integrated circuits (ASICs) from S3 Group; competition from existing and potential telecommunications competitors, including terrestrial and satellite-based network providers, some of whom provide wireless network services to our customers in connection with our products and services; our reliance on intellectual property rights and the risk that we, our MCAs, our MCPs and our customers may infringe on the intellectual property rights of others; inability to operate due to changes or restrictions in the political, legal, regulatory, government, administrative and economic conditions and developments in the United States and other countries and territories in which we provide our services; legal proceedings; the failure of our system or reductions in levels of service due to technological malfunctions or deficiencies or other events, such as in-orbit satellite failures, reduced performance of our existing satellites, or man-made or natural disasters and other extreme events; rapid and significant technological changes, pricing pressures and other competitive factors; cybersecurity risks; and the terms of our credit agreement, under which we currently have borrowed $150 million and may borrow up to an additional $10 million, that could restrict our business activities or our ability to execute our strategic objectives or adversely affect our financial performance. In addition, specific consideration should be given to various factors described in Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, and elsewhere in our Annual Report on Form 10-K, and other documents, on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise any forward-looking statements or cautionary factors, except as required by law. The following table reconciles our Net Income attributable to ORBCOMM Inc. to EBITDA and Adjusted EBITDA for the periods shown: ORBCOMM publicly reports its financial information in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). To facilitate external analysis of the Company’s operating performance, ORBCOMM also presents financial information that are considered “non-GAAP financial measures” under Regulation G and related reporting requirements promulgated by the Securities and Exchange Commission. Non-GAAP measures should be considered in addition to, and not as a substitute for, or superior to, Net Income or other measures of financial performance prepared in accordance with GAAP and may be different than those presented by other companies. EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin are not performance measures calculated in accordance with GAAP and are therefore considered non-GAAP measures. A reconciliation table is presented above. EBITDA is defined as earnings attributable to ORBCOMM Inc. before interest income (expense), loss on debt extinguishment, provision for income taxes and depreciation and amortization. ORBCOMM believes EBITDA is useful to its management and investors in evaluating operating performance because it is one of the primary measures used to evaluate the economic productivity of the Company’s operations, including its ability to obtain and maintain its customers, its ability to operate its business effectively, the efficiency of its employees and the profitability associated with their performance. It also helps ORBCOMM’s management and investors to meaningfully evaluate and compare the results of the Company’s operations from period to period on a consistent basis by removing the impact of its financing transactions and the depreciation and amortization impact of capital investments from its operating results. In addition, ORBCOMM management uses EBITDA in presentations to its board of directors to enable it to have the same measurement of operating performance used by management and for planning purposes, including the preparation of the annual operating budget. The Company also believes that Adjusted EBITDA, defined as EBITDA adjusted for stock-based compensation expense, noncontrolling interests, impairment loss, non-capitalized satellite launch and in-orbit insurance, insurance recovery, and acquisition-related and integration costs, is useful to investors to evaluate the Company’s core operating results and financial performance because it excludes items that are significant non-cash or non-recurring expenses reflected in the Condensed Consolidated Statements of Operations. Adjusted EBITDA Margin equals Adjusted EBITDA divided by Total Revenues. The following table reconciles our Net Income (Loss) attributable to ORBCOMM Inc. Common Stockholders to Net Income (Loss) – Ex-Items, attributable to ORBCOMM Inc. Common Stockholders and Basic EPS to Basic EPS – Ex-Items for the periods shown: Net Income (Loss) – Ex-Items attributable to ORBCOMM Inc. Common Stockholders is defined as Net Income (Loss) attributable to ORBCOMM Inc. Common Stockholders, excluding Impairment Loss-satellite network, and Acquisition-related and integration costs. Basic EPS – Ex-Items is defined as Basic EPS excluding Impairment Loss-satellite network, and Acquisition-related and integration costs. Net Income (Loss) – Ex-Items attributable to ORBCOMM Inc. Common Stockholders and Basic EPS – Ex-Items are non-GAAP financial measures used by the Company. These non-GAAP financial measures are used as a means to evaluate period-to-period comparisons. These non-GAAP measures are presented in this press release as management believes that they will provide investors with a means of evaluating, and an understanding of how management evaluates, the Company’s performance and results on a comparable basis that is not otherwise apparent on a GAAP basis, since many non-recurring, infrequent or non-cash items that management believes are not indicative of the core performance of the business may not be excluded when preparing financial measures under GAAP. These non-GAAP measures should not be considered in isolation from, as substitutes for, or superior to financial measures prepared in accordance with GAAP, or may be different from similarly titled measures reported by other companies. A reconciliation table is presented above.
News Article | March 1, 2017
The Jensen Maritime-designed Earl W. Redd, the first tractor tugboat in America to enter service in compliance with the U.S. Environmental Protection Agency (EPA)’s Tier IV environmental standards by use of a Selective Catalytic Reduction (SCR) system, was christened earlier this month by owner Harley Marine Services Inc., of Seattle. An SCR system scrubs emissions by converting nitrogen oxide (NOx) into ammonia, which is then absorbed by ceramic bricks built into the engines. The technology significantly reduces the amount of NOx, particulate matter and hydrocarbons released into the environment, and makes the 120-foot vessel one of the cleanest-running tugboats in terms of marine emissions. Built at Diversified Marine Inc.’s shipyard in Portland, Ore., the Earl W. Redd is the first of seven such tugs in development by Jensen. “With six more Tier IV tugboat designs slated for release soon, Jensen is leading the industry in the production of environmentally friendly designs balanced with high-quality performance,” said Jensen’s Johan Sperling, vice president. “The completion of this tug is a continuation of our commitment to meet the industry’s demands for strong, yet nimble, vessels with quality design.” Jensen also equipped the Earl W. Redd with modern Rolls-Royce US 255-P30-FP Z-drive propulsion and two Caterpillar 3516E diesel engines, for a rated 5,000 horsepower. Two, 125 kilowatt-hour (kW) John Deere generator sets provide the tug’s electrical power. Jensen designed the vessel to carry up to 128,000 gallons of fuel; 6,534 gallons of fresh water; 1,137 gallons of lube oil; and 1,263 gallons of hydraulic oil. The towing gear consists of a Markey, double-drum, towing winch, with 2,600 feet of towing wire mounted on the stern and a Markey ship-assist hawser winch on the bow. A large pilot house provides all-around visibility, and the deckhouse has an open feel with a large mess and lounge area along with accommodations for a 10-person crew. Following the christening, the Earl W. Redd joined Harley’s Olympic tug-and-barge operations along the U.S. West Coast, including in Alaska, the Puget Sound and on the Columbia River. Seattle-based Jensen Maritime Consultants Inc. is a naval architecture and marine engineering firm owned by Crowley Maritime Corporation. The company offers a diverse range of consulting, design and engineering services developed from more than 50 years of experience working around the world. Jensen is a recognized leader in the design of all types of vessels and has built a favorable reputation on a long history of successful designs and conversions with close attention to engineering basics. The company's services include detail and conceptual design and engineering, vessel modifications, lofting, regulatory and shipyard liaison as well as on-site consulting services and on-location assistance anywhere in the world. Additional information about Jensen can be found at jensenmaritime.com. For more information about Jensen’s 125-year old parent company, Crowley, please visit crowley.com.
News Article | February 28, 2017
This program recognizes dedication, quality, and continuous improvement. DORVAL, QC, Feb. 28, 2017 /PRNewswire/ - Dicom Transportation Group has earned recognition for the second year in a row as a Partner-Level Supplier in the John Deere Achieving Excellence Program. The...
John Deere | Date: 2013-03-15
Self-powered apparatus are disclosed. An example apparatus includes a front chassis portion and a rear chassis portion. The front chassis portion is to be coupled to the rear chassis portion. The front chassis portion is substantially the same as the rear chassis portion. When the front and rear chassis portions are coupled, the front chassis portion includes a first end of the apparatus and the rear chassis portion includes a second end of the apparatus.
News Article | February 16, 2017
Research and Markets has announced the addition of the "Electric Vehicles for Construction, Agriculture and Mining 2017-2027" report to their offering. Electric vehicles for construction, agriculture and mining will be a $81 billion market in 2027. Komatsu, John Deere, Caterpillar, and others manufacture the big vehicles - mainly hybrid - while other manufacturers offer smaller, pure-electric versions. Pure electric is a legal requirement indoors. Outdoors, fuel saving and better performance attracts. Cranes and man lifters have many applications. Their production volumes are larger than most people realise. So it is with the electric versions set for 165,000 to be sold in 2027. This is an industry about to change radically. For example, in mining, over 90% of the world's mines are open cast. They are often in remote places up to 4000 meters above sea level, where shipping diesel can cost more than buying it. Consequently, there is now a move to have 350 kW giant haul trucks working the floor and separately the top of the mine with electric rail-veyors lifting the ore from bottom to top. In an all-electric solution new pollution laws can be met, image improved and money saved, the electricity coming from the mine's own wind turbines and photovoltaics. Battery swapping and fast charging of those batteries means 350 kWh batteries suffice - big but no larger than those in other EV sectors. The new report explains all this and gives detailed forecasts, comparisons and assessments. It shows how mines will electrify much more but only after the current bust period of the boom-and-bust that characterises this industry. It shows why the ubiquitous tractor in agriculture will, at last, be electric in volume quantities by 2027 and how new forms of vehicle design are coming. Benchmarking from the 46 categories of electric vehicle that the analyst forecasts, the report explains what new technologies will arrive and why. Supercapacitors, new power components, greater modularisation and integration will transform this industry. The report draws on interviews and results of many recent conferences on these sectors. For more information about this report visit http://www.researchandmarkets.com/research/r666v9/electric_vehicles