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DUBLIN, 28-Feb-2017 — /EuropaWire/ — Medtronic plc (NYSE:MDT) today announced an economic analysis of five-year data showing that patients with mild heart failure who get cardiac resynchronization therapy (CRT) devices early in their treatment live longer and that implanting these devices is cost-effective, compared to optimal medical therapy. Results from the REVERSE (REsynchronization reVErses Remodeling in Systolic left vEntricular dysfunction) trial were published in the Journal of the American College of Cardiology: Heart Failure. CRT is an established treatment for indicated patients with heart failure that has been demonstrated to improve survival and quality of life, and reduce hospitalizations. However, despite significant clinical evidence and guideline recommendations in support of CRT, studies have shown the therapy to be underutilized in eligible patients1. REVERSE is the largest study to assess the long-term clinical impact and survival benefit of devices combining CRT with a defibrillator compared with CRT pacemakers. It is also the first study to show the cost-effectiveness of CRT when implanted earlier in the disease state. “These new data expand upon the current evidence and guidelines for the treatment of heart failure, by showing that CRT in patients with mildly symptomatic heart failure is beneficial, both from a clinical perspective, as well as from a financial perspective,” said Michael R. Gold, M.D., Ph.D., chief of cardiology, Michael E Assey Professor of Medicine at the Medical University of South Carolina. “REVERSE confirms that implanting CRT earlier slows the progression of heart failure, reduces heart failure-related hospitalizations and deaths, and prolongs life, all while being very cost-effective.” REVERSE was a prospective, randomized, double-blind study of 610 patients with mild heart failure (those designated New York Heart Association Class I/II) from North America and Europe. All patients were implanted with a CRT-pacemaker (CRT-P) or -defibrillator (CRT-D) and randomly assigned (2:1) to either CRT-ON or CRT-OFF. Previously published REVERSE findings showed a trend that CRT-ON increased survival by nearly 23 percent (52.5 percent vs. 29.7 percent, p=0.21), leading to an expected survival rate of 9.76 years for CRT-ON versus 7.5 years for CRT-OFF2. Based on these findings, the new analysis shows – for the first time under the Medicare setting – that CRT is a cost-effective option for patients with mild heart failure: CRT-ON yields an incremental cost effectiveness ratio (ICER) of $8,840 per Quality-Adjusted Life Year (QALY) gained over a patient’s lifetime, compared to CRT-OFF. (ICER is a statistic that summarizes the cost-effectiveness of a healthcare intervention, and QALY is a measure of the quantity and quality of life.) Additionally, REVERSE has shown that CRT-D provides a significant improvement in survival – 2.77 additional years of life – compared to CRT-P devices2. This benefit results in a first-of-its-kind finding that CRT-D is a cost-effective alternative to CRT-P, yielding an ICER of $43,678/QALY gained over the patient’s lifetime, lower than the benchmark for therapy cost effectiveness of other serious chronic conditions that cost at least $50,000 per QALY gained. Thus, while CRT-D costs more than CRT-P, the added 2.77 years of life justify the additional cost over a patient’s lifetime2. Finally, these analyses show CRT delays disease progression, which means that initially implanting a CRT-D is essentially cost-neutral compared to implanting an ICD and implanting a CRT-D later, when the disease worsens. With early CRT-D implantation slowing disease progress and increasing survival, and without any discounting of future benefits and cost applied, early CRT-D led to 1.24 years of additional survival, resulting in an ICER of $1,829 per year of life gained. “While CRT has long been established as a therapy that significantly improves outcomes for patients with heart failure, it is consistently underutilized,” said David Steinhaus, M.D., vice president and general manager of the Heart Failure business, and medical director for the Cardiac Rhythm and Heart Failure division of Medtronic. “Not only does REVERSE demonstrate the clinical benefit of CRT, it also quantifies the economic value of CRT, providing hospital systems with valuable information to help make informed decisions about CRT as a treatment option and the optimal timing of CRT for patients with heart failure. Ultimately, the goal is to increase value by improving patient outcomes and optimizing costs.” In collaboration with leading clinicians, researchers and scientists worldwide, Medtronic offers the broadest range of innovative medical technology for the interventional and surgical treatment of cardiovascular disease and cardiac arrhythmias. The company strives to offer products and services of the highest quality that deliver clinical and economic value to healthcare consumers and providers around the world. About Medtronic Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world’s largest medical technology, services and solutions companies – alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 88,000 people worldwide, serving physicians, hospitals and patients in approximately 160 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together. Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic’s periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results. 1 Fonarow GC, Yancy CW, Albert NM, et al. Improving the Use of Evidence-Based Heart Failure Therapies in the Outpatient Setting: (IMPROVE HF). Circulation. August 10, 2010;122(6):585-96. 2 Gold MR, Padhair A, Mealing S, et al. Long-Term Extrapolation of Clinical Benefits Among Patients With Mild Heart Failure Receiving Cardiac Resynchronization Therapy: Analysis of the 5-Year Follow-Up from the REVERSE Study. JACC Heart Fail. 2015 Sep;3(9):691-700.


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

TULSA, Okla.--(BUSINESS WIRE)--WPX Energy (NYSE:WPX) reported record oil output during the last quarter of 2016, spurring its plan to grow oil production and EBITDAX at a compound annual growth rate of 30-40 percent from 2017-2020 on a pro forma basis that assumes the closing of a previously announced acquisition. Fourth-quarter 2016 oil production averaged 44,700 barrels per day, which was 15 percent higher than the third quarter. First sales from accelerating the completion of the Williston DUC inventory drove the increase. “Operationally, we hit the mark in the fourth quarter and achieved more than we set out to do by bringing some of our expected oil volume growth online ahead of schedule,” said Rick Muncrief, chairman, president and chief executive officer. “We accomplished this even as we continue to do the necessary work to build an even deeper portfolio of projects that drive sustained, profitable growth. Our overriding objective is long-term value creation on a per share basis,” Muncrief added. WPX reported an unaudited fourth-quarter 2016 net loss attributable to common shareholders of $175 million, or a loss of $0.51 per share on a diluted basis, primarily associated with non-cash net losses from the company’s hedge book that result when rising commodity prices are higher than underlying contractual prices. The company’s adjusted net loss in fourth-quarter 2016 was $54 million, or a loss of $0.16 per share. A reconciliation accompanies this release, as well as additional financial results. During the fourth quarter, WPX also initiated a process to evaluate strategic options for midstream infrastructure in the Delaware Basin specifically focused on crude oil gathering and natural gas processing. These options include the potential for a joint venture. WPX expects to complete this process by the end of second-quarter 2017. Similar to its hedging strategy to protect revenues, WPX also has worked to control costs by implementing a supply chain management function over the past two years. The capability has allowed WPX to self-source completions in the Delaware and Williston basins. Approximately 70 percent of WPX’s 2017 D&C costs are currently under contract, which helps mitigate potential inflation as demand for oilfield services increases. WPX completed its third Wolfcamp D and second Wolfcamp X/Y delineation wells in the fourth quarter. The three Wolfcamp D wells in Eddy and Loving counties validate the presence of Wolfcamp D throughout WPX’s Stateline acreage. The X/Y delineation work validates the presence of the X/Y in both the Stateline and Rustler Breaks areas. The third D well – the Pecos State 46-5H – produced 1,628 Boe/d (22 percent oil) over 30 days of initial production at an average flowing tubing pressure of 3,069 PSI. The second X/Y well – the Pecos State 46-6H – produced 1,780 Boe/d (50 percent oil) over 30 days of initial production at an average flowing tubing pressure of 1,802 PSI. During the fourth quarter, WPX dedicated three rigs in the Delaware to a nine-well spacing test in the upper and lower Wolfcamp A. The project is designed to validate 80-acre spacing in both the upper and lower Wolfcamp A, which would result in 16 wells per drilling spacing unit. Initial flowback on these wells is expected to start in late March, with anticipated first sales in April. Initial oil flows on WPX’s new Delaware crude gathering system started on Dec. 28. WPX already has 13 wells tied into the system. Work on the 50-mile crude line will continue throughout the year. The system has a planned capacity of 100,000 barrels of oil per day. In the Williston Basin, WPX completed a total of 19 Williston DUCs during full-year 2016, including 14 in the fourth quarter. Nine 3-mile laterals on the Peterson, North Segment and Olive Mae pads had a combined average peak rate of 1,900 Boe/d. Ten 2-mile laterals on the Wells, Helena Ruth Grant and Owl Comes Out pads had a combined average peak rate of nearly 2,600 Boe/d. According to publicly reported information, WPX’s new Williston wells in 2016 ranked first in the basin for cumulative oil production over 90-day and 180-day periods. The 90-day data was derived from more than 400 locations, including nine WPX wells. The 180-day data was derived from nearly 250 locations, including six WPX wells. These results highlight the success of how WPX continues to evolve its completion designs. In the San Juan Basin, WPX’s six-well pad in the West Lybrook unit now has cumulative 180-day production of more than 1 million Boe (70% oil), which represents an average of approximately 1,000 Boe/d per well. Also, two successful step-out delineation wells in the Kimbeto Wash and North Escavada areas have cumulative 160-day production of more than 250,000 boe (71% oil), which represents a combined average of approximately 875 Boe/d per well. After the first of this year, WPX announced the acquisition of 18,100 net acres in Reeves, Loving, Ward and Winkler counties in Texas, which includes 920 gross undeveloped locations in the geologic sweet spot of the Delaware Basin and approximately 6,500 Boe/d (55% oil) of production. There is an existing two-rig program on the acreage, which WPX plans to continue following the expected close of the transaction before the end of first-quarter 2017. WPX’s proved reserves at Dec. 31, 2016, were 346.4 MMBoe. For the first time, at least 50 percent of proved reserves were oil. Excluding Piceance, the company replaced its overall 2016 production at a rate of 317 percent. Approximately 65 percent of WPX’s reserves are oil and natural gas liquids, up significantly from 37 percent at year-end 2015 prior to the divestiture of the company’s Piceance Basin subsidiary. Permian proved reserves increased 56 percent from a year ago to 143.5 MMBoe at year-end 2016. Williston proved reserves grew 13 percent to 104.9 MMBoe. San Juan proved reserves went up 5 percent to 91 MMBoe. Oil sales of $173 million accounted for 75 percent of WPX’s fourth-quarter total product revenues of $231 million. Quarterly oil revenue grew by 40 percent vs. the same period in 2015 driven by higher average prices and production volumes. WPX’s fourth-quarter 2016 net loss of $175 million was primarily driven by $148 million of unrealized non-cash net losses from its hedge book that resulted from forward commodity price increases. The company decreased lease operating expense by 15 percent per Boe vs. the same period a year ago, but the improvement was offset by increased production taxes and GP&T expenses. Fourth-quarter G&A included $11 million of costs for both severance expense and an additional expense related to the employee annual incentive program for performance that significantly exceeded 2016 targets. The adjusted net loss from continuing operations (a non-GAAP financial measure that excludes certain items typically excluded from published analyst estimates) in the fourth quarter was $54 million, or a loss of $0.16 per share. Adjusted EBITDAX (a non-GAAP financial measure) for the fourth quarter was $135 million. Reconciliations for non-GAAP financial measures accompany this press release. For full-year 2016, WPX reported a net loss attributable to common shareholders of $641 million, or a loss of $2.05 per share; an adjusted net loss from continuing operations of $255 million, or a loss of $0.82 per share; and adjusted EBITDAX of $475 million. The reported full-year loss also was driven by hedge book losses, as well as higher DD&A expenses from the company’s shift to oil. Reconciliations for non-GAAP financial measures accompany this press release. For full-year 2016, the weighted average gross sales price – prior to revenue deductions – for oil decreased 8 percent to $37.26 per barrel vs. a year ago. Natural gas prices decreased 12 percent to $2.14 per Mcf. NGL prices increased 5 percent to $15.68 per barrel. Prices for all three commodities showed improvement in the fourth quarter of the year, led by oil at an average of $42.93 per barrel. Fourth-quarter 2016 oil output of 44,700 was up 16 percent vs. a year ago and 8 percent higher than WPX’s previous quarterly high of 41,500 bbl/d in first-quarter 2016. The increase was driven by activity in the Williston Basin as WPX brought its inventory of drilled-but-uncompleted wells onto first sales. Total company production volumes of 88.7 Mboe/d in fourth-quarter 2016 were up 9 percent vs. a year ago and 5 percent higher than third-quarter 2016. Liquids volumes accounted for 62 percent of production in fourth-quarter 2016, up considerably from 36 percent a year ago prior to the company’s disposition of its Piceance subsidiary. Year-over-year total production increased 19 percent to 84.6 Mboe/d in 2016, driven by the benefit of a full year of Delaware Basin volumes. WPX has now posted double-digit oil volume growth in each of the past five years. Results for 2015 include a partial year of Delaware volumes following WPX’s acquisition of RKI Exploration & Production, LLC in August 2015. *Notes: 2015 results exclude Piceance Basin volumes that were divested and only reflect a partial year of Delaware Basin activity following the purchase of RKI E&P in third-quarter 2015. NM denotes a percentage change that is immaterial or not meaningful. Total capital spending for full-year 2016 was $584 million, including $84 million in land purchases and $27 million in Piceance activity that was reimbursed in conjunction with the divestiture of that business. Overall, WPX participated in the completion of 131 gross (71.29 net) wells in 2016, including 36 gross (21.99 net) in the fourth quarter. WPX operates in the core of the Permian’s world-class Delaware Basin, where the company is nearing completion of a bolt-on acquisition that will increase its acreage position in the basin by more than 15 percent. The previously announced acquisition encompasses 18,100 net acres, 920 gross undeveloped locations and 6,500 Boe/d (55 percent oil) of existing production. Delaware production averaged 25.1 Mboe/d in the fourth quarter. WPX’s quarterly oil volumes in the basin increased 32 percent vs. the same period a year ago. WPX plans to invest $480-$510 million in the Delaware this year on a pro forma basis (assuming the close of the pending acquisition) to complete an estimated 85-100 wells. The company has five rigs deployed in the basin. WPX also plans to continue the existing two-rig program associated with its acquisition of bolt-on acreage. Three of the rigs on WPX’s existing acreage are currently drilling extended-length (1.5 to 2 mile) laterals. Roughly forty percent of the company’s Delaware wells in its 2017 drilling plan are extended-length laterals. WPX’s Williston Basin production comes from the Bakken and Three Forks formations. Approximately 85 percent of the production stream is oil. Williston Basin production averaged 28.8 Mboe/d in the fourth quarter as oil volumes rose 39 percent vs. the third-quarter of 2016. Full-year production in the basin averaged 25.0 Mboe/d. WPX completed 14 wells from its Williston DUC inventory in the fourth quarter, comprised of six Bakken wells and eight Three Forks wells. Ten of the wells were two-mile laterals. Four of the wells were three-mile laterals. WPX had 12 spuds in the basin during the fourth quarter, all of which were 2-mile laterals. Spud-to-rig-release times averaged less than 15 days per well, including the company’s two fastest wells in the basin. WPX plans to invest $240-$260 million in the basin this year to complete an estimated 38-42 wells. The company has two rigs deployed in the basin. WPX produces oil in the southern end of the San Juan Basin from the Gallup Sandstone and has a legacy natural gas position in the northern end of the basin, including considerable dry Mancos upside. San Juan Basin production averaged 31.9 Mboe/d in the fourth quarter as oil volumes rose 21 percent vs. the third-quarter of 2016. Full-year production in the basin was slightly higher at 32.2 Mboe/d. Subsequent to the close of the quarter, WPX drilled its fastest well in the basin to date. The company recently drilled a 1.5-mile lateral in just 5.8 days. WPX plans to invest $150-$170 million in the basin this year to complete an estimated 40-46 wells. The company has one rig deployed in the basin. Most of the 2017 drilling plan is focused on the West Lybrook unit where WPX has eight pads built and rig-ready. WPX’s 2017 pro forma projections are based on the assumed closing of a previously announced bolt-on acquisition in the Delaware Basin. The parties expect to close the transaction by the end of the first quarter. WPX’s 2017 budget for drilling and completions is $870-$940 million to support a 10-rig program. More than half of the capital is targeted for development in the Delaware Basin. The company plans to spend an additional $35-$45 million to continue the build out of its oil gathering system in the basin. WPX expects total production in 2017 of 103-113 Mboe/d, including 52-56 Mbbl/d of oil. Projected 2017 oil volumes represent 30 percent growth vs. 2016. Oil growth is expected to accelerate in the second half of the year based on the timing of anticipated first sales, which is driven by pad drilling and the batching of completions to facilitate operational efficiencies. Cash operating expense (not including DD&A) is estimated at $9-$10.50 per Boe this year. Additional information about WPX’s 2017 pro forma guidance is available in a slide presentation at www.wpxenergy.com. WPX’s total liquidity at the close of business on Dec. 31, 2016, was approximately $1.45 billion, including $959 million of available revolver capacity and $496 million in unrestricted cash and cash equivalents. For 2017, WPX has 39,554 barrels per day of oil hedged at a weighted average price of $50.93 per barrel. WPX also has 170,000 MMBtu per day of natural gas hedged at a weighted average price of $3.02 per MMBtu. For 2018, WPX has 30,000 barrels per day of oil hedged at a weighted average price of $54.61 per barrel. WPX also has 155,000 MMBtu per day of natural gas hedged at a weighted average price of $2.98 per MMBtu. The company’s next debt maturity does not occur until 2020. In the fourth quarter of 2016, WPX redeemed the remaining balance ($125 million) of its 2017 notes. The company’s next webcast takes place on Feb. 23 beginning at 10 a.m. Eastern. Investors are encouraged to access the event and the corresponding slides at www.wpxenergy.com. A limited number of phone lines also will be available at (844) 215-3288. International callers should dial (615) 247-5915. The conference identification code is 48875328. WPX plans to file its 2016 Form 10-K with the Securities and Exchange Commission this week. Once filed, the document will be available on the SEC and WPX websites. WPX is an oil-focused energy company with operations in the Permian, Williston and San Juan basins. The company is one of the 20 largest U.S. producers based on total assets and market capitalization. WPX has eight rigs deployed and has engaged in more than $6 billion of transactions since mid-2014 to vastly increase its long-term oil drilling inventory. This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Statements regarding future drilling and production are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to, the volatility of oil, natural gas and NGL prices; uncertainties inherent in estimating oil, natural gas and NGL reserves; drilling risks; environmental risks; and political or regulatory changes. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date of this press release, even if subsequently made available by WPX Energy on its website or otherwise. WPX Energy does not undertake and expressly disclaims any obligation to update the forward-looking statements as a result of new information, future events or otherwise. Investors are urged to consider carefully the disclosure in our filings with the Securities and Exchange Commission, available from us at WPX Energy, Attn: Investor Relations, P.O. Box 21810, Tulsa, Okla., 74102, or from the SEC’s website at www.sec.gov. Additionally, the SEC requires oil and gas companies, in filings made with the SEC, to disclose proved reserves, which are those quantities of oil and gas, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible – from a given date forward, from known reservoirs, under existing economic conditions, operating methods, and governmental regulations. The SEC permits the optional disclosure of probable and possible reserves. From time to time, we elect to use “probable” reserves and “possible” reserves, excluding their valuation. The SEC defines “probable” reserves as “those additional reserves that are less certain to be recovered than proved reserves but which, together with proved reserves, are as likely as not to be recovered.” The SEC defines “possible” reserves as “those additional reserves that are less certain to be recovered than probable reserves.” The Company has applied these definitions in estimating probable and possible reserves. Statements of reserves are only estimates and may not correspond to the ultimate quantities of oil and gas recovered. Any reserve estimates provided in this presentation that are not specifically designated as being estimates of proved reserves may include estimated reserves not necessarily calculated in accordance with, or contemplated by, the SEC’s reserves reporting guidelines. Investors are urged to consider closely the disclosure in our SEC filings that may be accessed through the SEC’s website at www.sec.gov. The SEC’s rules prohibit us from filing resource estimates. Our resource estimations include estimates of hydrocarbon quantities for (i) new areas for which we do not have sufficient information to date to classify as proved, probable or even possible reserves, (ii) other areas to take into account the low level of certainty of recovery of the resources and (iii) uneconomic proved, probable or possible reserves. Resource estimates do not take into account the certainty of resource recovery and are therefore not indicative of the expected future recovery and should not be relied upon. Resource estimates might never be recovered and are contingent on exploration success, technical improvements in drilling access, commerciality and other factors.


News Article | February 28, 2017
Site: www.prweb.com

Mesa Cold Storage, a leading temperature controlled 3rd party logistics company serving the Southwestern U.S. has completed its phase I implementation of Cadence WMS. The comprehensive system went live in Q4 2016 and has rapidly produced significant operational improvements and customer service enhancements. Cadence offers many advantages in a cold storage facility with its real-time, complete RF operational system. Customer service has been enhanced via the Cadence 24/7 web-access portal which frees service reps to resolve issues without tedious manual data entry. The system also automates service billing; provides electronic appointments and dock door scheduling; and systematically manages documents through Cadence Doc Link. Mesa’s EDI integration requirements are also provided by Cadence. “Cadence gives us the ability to further automate processes and do the work one-time…right,” explained Mesa’s CFO, Sherry Perry. “We continue to value Cadre Technologies as a long-term partner.” Mesa Cold Storage has worked with Cadre for many years, operating Accuplus 3PL WMS and LogiView logistics visibility and execution system. “Mesa Cold Storage’s commitment to implementing the latest technology demonstrates their vision and leadership in the cold storage industry,” said Daryl Grove, Cadre’s executive vice president. “We look forward to working with Mesa as a customer for life.” About Mesa Cold Storage Mesa is headquartered in its 3.2 million cubic foot warehouse in Tolleson, Arizona and operates three additional cold storage facilities in Mesa, AZ; Albuquerque, NM and Fullerton, CA. The logistics company provides temperature controlled distribution, transportation, cross-docking, lumping/reworks, freeze-down and logistics consulting. About Cadre Technologies Cadre Technologies is a leading innovator of software for fulfillment and logistics operations including warehouse management, transportation management and online collaboration. Products include LogiView, SaaS based supply chain control tower, Cadence Warehouse Management System and Accuplus 3rd Party Logistics WMS. The company is based in Denver, Colorado with offices in Lenexa, Kansas and Baltimore, Maryland. Cadre is a FOG Software Group company, part of Constellation Software Inc. (TSX:CSU). For more information, visit http://www.cadretech.com.


MONACO, Feb. 22, 2017 (GLOBE NEWSWIRE) -- Navios Maritime Holdings Inc. (“Navios Holdings” or “the Company”) (NYSE:NM), a global, vertically integrated seaborne shipping and logistics company, today reported financial results for the fourth quarter and year ended December 31, 2016. Angeliki Frangou, Chairman and Chief Executive Officer, stated “Navios Holdings is positioned to capture any market recovery. In 2016, we reduced expected 2017 breakeven by $28.0 million through a number of actions, including purchasing, at a discount, (i) about $60.0 million in face value of our unsecured bonds and (ii) $61.1 million of par outstanding Series G and H ADSs. We also reduced the average charter rate for our charter-in fleet by $2,170 per day and cash requirements for servicing commercial bank debt. Our scale provides industry leading operating efficiencies, with Opex about 37% below industry averages and G&A among the lowest of our publicly listed shipping peers.” Angeliki Frangou continued, “We are pleased that we have removed the uncertainty regarding our iron ore port in South America.  The London arbitration tribunal has ruled in favor of Navios Logistics - that the Vale 20-year port services contract remains in full force and effect.  The Vale minimum guarantee, for 4 million of the 10 million tons of annual capacity, should generate about $35.0 million in annual EBITDA. Over the 20-year term of the contract, this minimum guarantee should generate about $1.0 billion in EBITDA.” $27.0 million agreement to sell certain loans to Navios Maritime Partners L.P. (“Navios Partners”) Navios Holdings has agreed to sell to Navios Partners certain loans previously funded by Navios Holdings to Navios Europe Inc. for $27.0 million. The sale proceeds would be: (i) $4.05 million in cash and (ii) approximately 13.1 million common units of Navios Partners. Following the completion of this transaction, Navios Holdings would own approximately a 30.9% interest in Navios Partners, including the general partner interest. The aggregate loan balances sold as of February 2017 amounted to $21.4 million. Navios Partners may require Navios Holdings, under certain conditions, to repurchase the loans after the third anniversary of the date of the sale based on the then outstanding balance of the loans. On December 21, 2016, a London arbitration tribunal ruled the 20-year contract (the “Contract”) between Corporacion Navios S.A. and Vale International S.A. (“Vale”) for the iron ore port under construction to be in full force and effect. After receiving written notice from Vale repudiating the Contract, Navios Logistics initiated arbitration proceedings in London pursuant to the dispute resolution provisions of the Contract. On December 21, 2016, the arbitration tribunal issued its decision that the Contract remains in full force and effect. The arbitration tribunal also determined that Navios Logistics may elect to terminate the Contract if Vale were to further repudiate or renounce the Contract and then would be entitled to damages calculated by reference to guaranteed volumes and agreed tariffs for the remaining period of the Contract. On February 10, 2017, a New York arbitration tribunal ruled in favor of Navios Logistics on a dispute with Vale regarding the termination date of a COA contract. Vale has been ordered to pay Navios Logistics $21.5 million, compensating for all unpaid invoices, late payment of invoices, and legal fees incurred. On December 15, 2016, Navios Logistics entered into a loan facility for an amount of $25.0 million for general corporate purposes. The loan was fully drawn in December 2016. The loan bears interest at a rate of LIBOR plus 325 basis points. Navios Holdings controls a fleet of 66 operating vessels totaling 6.7  million dwt, of which 40 are owned and 26 are chartered-in under long-term charters (collectively, the "Core Fleet"). The fleet consists of 21 Capesize, 23 Panamax, 20 Ultra Handymax and two Handysize vessels and the current average age of operating fleet is 7.8 years. As of February 6, 2017, Navios Holdings has chartered-out 19.5% of available days for 2017 (excluding index and profit sharing days). The average contracted daily charter-in rate for the long-term charter-in vessels for 2017 is $12,214. The above figures do not include the fleet of Navios Logistics and vessels servicing contracts of affreightment. Exhibit II provides certain details of the Core Fleet of Navios Holdings. It does not include the fleet of Navios Logistics. EBITDA, Adjusted EBITDA, Adjusted Net Loss and Adjusted Basic Loss per Share are non-U.S. GAAP financial measures and should not be used in isolation or as substitution for Navios Holdings’ results calculated in accordance with U.S. GAAP. See Exhibit I under the heading, “Disclosure of Non-GAAP Financial Measures,” for a discussion of EBITDA, Adjusted EBITDA, Adjusted Net Loss and Adjusted Basic Loss per Share of Navios Holdings (including Navios Logistics), and EBITDA of Navios Logistics (on a stand-alone basis), and a reconciliation of such measures to the most comparable measures calculated under U.S. GAAP. Fourth Quarter 2016 and 2015 Results (in thousands of U.S. dollars, except per share data and unless otherwise stated): The fourth quarter 2016 and 2015 information presented below was derived from the unaudited condensed consolidated financial statements for the respective periods. (1) Adjusted EBITDA, Adjusted Net Loss and Adjusted Basic Loss per Share for the three months ended December 31, 2016 exclude debt extinguishment gains of $13.2 million. Adjusted Basic Loss per Share for the three months ended December 31, 2016 also exclude a gain of $46.6 million following the completion of the Series G and Series H Exchange Program. (2) Adjusted EBITDA, Adjusted Net Loss and Adjusted Basic Loss per Share for the three months ended December 31, 2015 exclude $17.5 million non-cash guarantee loss relating to Navios Partners. Adjusted Net Loss and Adjusted Basic Loss per Share for the three months ended December 31, 2015 also exclude $15.2 million of accelerated amortization of intangibles. Revenue from drybulk vessel operations for the three months ended December 31, 2016 was $56.5 million as compared to $59.3 million for the same period during 2015. The decrease in drybulk revenue was mainly attributable to a decrease in available days of our fleet by 700 days, mainly due to a decline in short-term charter-in fleet available days, partially mitigated by the increase in the Time Charter Equivalent (“TCE”) rates achieved. Revenue from the logistics business was $43.0 million for the three months ended December 31, 2016, as compared to $52.4 million for the same period of 2015. This decrease was mainly attributable to the decrease in time charter, voyage and port terminal revenues, partially mitigated by an increase in sales of products in the liquid terminal. Net Loss of Navios Holdings was $14.4 million and $60.6 million for the three months ended December 31, 2016 and 2015, respectively. Net Loss was affected by items described in the table above. Excluding these items, Adjusted Net Loss of Navios Holdings for the three months ended December 31, 2016 was $27.6 million as compared to $27.9 million for the same period of 2015. The $0.3 million decrease in Adjusted Net Loss was mainly due to (i) a $3.7 million decrease in depreciation and amortization; (ii) a $2.5 million decrease in share-based compensation expense; and (iii) a $0.3 million decrease in amortization for deferred drydock and special survey costs. This decrease in Adjusted Net Loss was partially mitigated by (i) a $4.5 million decrease in Adjusted EBITDA; and (ii) a decrease in income tax benefit of $1.7 million. Net loss of Navios Logistics was $5.7 million for the three month period ended December 31, 2016, as compared to net income of $1.4 million for the same period in 2015. Adjusted EBITDA of Navios Holdings for the three months ended December 31, 2016 decreased by $4.5 million to $29.1 million as compared to $33.6 million for the same period of 2015. The $4.5 million decrease in Adjusted EBITDA was primarily due to (i) a $12.2 million decrease in revenue; (ii) a $3.2 million decrease in equity in net earnings from affiliated companies; and (iii) a $1.9 million increase in direct vessel expenses (excluding the amortization of deferred drydock and special survey costs). This decrease was partially mitigated by (i) a $5.9 million decrease in time charter, voyage and logistics business expenses; (ii) a $3.6 million decrease in general and administrative expenses (excluding share-based compensation expenses); (iii) a $2.6 million decrease in net income attributable to the noncontrolling interest; and (iv) a $0.7 million decrease in other expense, net. EBITDA of Navios Logistics was $7.1 million for the three month period ended December 31, 2016, as compared to $15.9 million for the same period in 2015. Year Ended December 31, 2016 and 2015 Results (in thousands of U.S. dollars, except per share data and unless otherwise stated): The information for the year ended December 31, 2016 and 2015 presented below was derived from the unaudited condensed consolidated financial statements for the respective periods. (1) Adjusted EBITDA, Adjusted Net Loss and Adjusted Basic Loss per Share for the year ended December 31, 2016 exclude (a) debt extinguishment gains of $29.1 million and (b) non-cash losses of $8.0 million relating to our share in Navios Partners. Adjusted Net Loss and Adjusted Basic Loss per Share for the year ended December 31, 2016 also exclude $13.0 million of accelerated amortization of intangibles. Adjusted Basic Loss per Share for the year ended December 31, 2016 also exclude a gain of $46.6 million following the completion of the Series G and Series H Exchange Program. (2) Adjusted EBITDA, Adjusted Net Loss and Adjusted Basic Loss per Share for the year ended December 31, 2015 exclude (a) $18.8 million non-cash guarantee loss relating to Navios Partners and (b) $1.8 million non-cash loss on available-for-sale securities. Adjusted Net Loss and Adjusted Basic Loss per Share for the year ended December 31, 2015 also exclude $9.3 million of accelerated amortization of intangibles. Revenue from drybulk vessel operations for the year ended December 31, 2016 was $199.5 million as compared to $229.8 million for the same period during 2015. The decrease in drybulk revenue was mainly attributable to (i) a decrease in available days of our fleet by 1,879 days, mainly due to a decrease in short-term charter-in fleet available days; and (ii) the decrease in the freight market. Revenue from the logistics business was $220.3 million for the year ended December 31, 2016 as compared to $251.0 million for the same period of 2015. This decrease was mainly attributable to a decrease in the cabotage fleet's operating days, a decrease in sales of products in the liquid terminal and a decrease in products transported in the dry port terminal. Net Loss of Navios Holdings was $75.8 million and $134.1 million for the year ended December 31, 2016 and 2015, respectively. Net Loss was affected by items described in the table above. Excluding these items, Adjusted Net Loss of Navios Holdings for the year ended December 31, 2016 was $83.9 million as compared to $104.3 million for the same period of 2015. The $20.4 million decrease in Adjusted Net Loss was mainly due to (i) a decrease in depreciation and amortization of $10.3 million; (ii) an increase in Adjusted EBITDA of $10.6 million; (iii) a decrease in interest expense and finance cost, net of $2.1 million; and (iv) a decrease in share based compensation expenses of $2.3 million. This decrease in Adjusted Net Loss was partially mitigated by (i) an increase in income tax of $4.5 million; and (ii) an increase of $0.4 million in amortization for deferred drydock and special survey costs. Net income of Navios Logistics was $10.2 million for the year ended December 31, 2016, as compared to $22.2 million for the same period in 2015. Adjusted EBITDA of Navios Holdings for the year ended December 31, 2016 increased by $10.6 million to $144.0 million as compared to $133.4 million for the same period of 2015. The $10.6 million increase in Adjusted EBITDA was primarily due to (i) a $72.8 million decrease in time charter, voyage and logistics business expenses; (ii) a $14.7 million decrease in other expense, net; (iii) a $6.7 million decrease in general and administrative expenses (excluding share-based compensation expenses); (iv) a $4.3 million decrease in net income attributable to the noncontrolling interest; and a (v) $1.4 million decrease in direct vessel expenses (excluding the amortization of deferred drydock and special survey costs). This overall increase of $99.9 million was set off by (i) a $61.0 million decrease in revenue; and (ii) a $28.3 million decrease in equity in net earnings from affiliated companies. EBITDA of Navios Logistics was $68.1 million for the year ended December 31, 2016, as compared to $80.5 million for the same period in 2015. The following table reflects certain key indicators indicative of the performance of the Navios Holdings' dry bulk operations (excluding the Navios Logistics fleet) and its fleet performance for the three month period and year ended December 31, 2016 and 2015, respectively. As previously announced, Navios Holdings will host a conference call today, February 22, 2017, at 8:30 am ET, at which time Navios Holdings' senior management will provide highlights and commentary on earnings results for the fourth quarter and year ended December 31, 2016. A supplemental slide presentation will be available on the Navios Holdings website at www.navios.com under the "Investors" section by 8:00 am ET on the day of the call. Conference Call details: Call Date/Time: Wednesday, February 22, 2017, at 8:30 am ET Call Title: Navios Holdings Inc. Q4 2016 Financial Results Conference Call US Dial In: +1.877.480.3873 International Dial In: +1.404.665.9927 Conference ID: 56941796 The conference call replay will be available shortly after the live call and remain available for one week at the following numbers: US Replay Dial In: +1.800.585.8367 International Replay Dial In: +1.404.537.3406 Conference ID: 56941796 This call will be simultaneously Webcast. The Webcast will be available on the Navios Holdings website, www.navios.com, under the "Investors" section. The Webcast will be archived and available at the same Web address for two weeks following the call. Navios Maritime Holdings Inc. (NYSE:NM) is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of dry bulk commodities including iron ore, coal and grain. For more information about Navios Holdings please visit our website: www.navios.com. Navios South American Logistics Inc. is one of the largest logistics companies in the Hidrovia region of South America, focusing on the Hidrovia region river system, the main navigable river system in the region, and on cabotage trades along the eastern coast of South America. Navios Logistics serves the storage and marine transportation needs of its petroleum, agricultural and mining customers through its port terminals, river barge and coastal cabotage operations. For more information about Navios Logistics please visit its website: www.navios-logistics.com. Navios Partners (NYSE:NMM) is a publicly traded master limited partnership which owns and operates container and dry bulk vessels. For more information, please visit its website at www.navios-mlp.com. Navios Acquisition (NYSE:NNA) is an owner and operator of tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals. For more information about Navios Acquisition, please visit its website: www.navios-acquisition.com. Navios Maritime Midstream Partners L.P. is a publicly traded master limited partnership which owns and operates crude oil tankers under long-term employment contracts. For more information, please visit its website at www.navios-midstream.com. This press release and our earnings call contain and will contain forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including 2017 cash flow generation, future contracted revenues, potential capital gains, our ability to take advantage of dislocation in the market, and Navios Holdings' growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as “may,” “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenue and time charters. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Navios Holdings at the time these statements were made. Although Navios Holdings believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Holdings. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to uncertainty relating to global trade, including prices of seaborne commodities and continuing issues related to seaborne volume and ton miles, our continued ability to enter into long-term time charters, our ability to maximize the use of our vessels, expected demand in the dry cargo shipping sector in general and the demand for our Panamax, Capesize and UltraHandymax vessels in particular, fluctuations in charter rates for dry cargo carriers vessels, the aging of our fleet and resultant increases in operations costs, the loss of any customer or charter or vessel, the financial condition of our customers, changes in the availability and costs of funding due to conditions in the bank market, capital markets and other factors, increases in costs and expenses, including but not limited to: crew wages, insurance, provisions, port expenses, lube oil, bunkers, repairs, maintenance, and general and administrative expenses, the expected cost of, and our ability to comply with, governmental regulations and maritime self-regulatory organization standards, as well as standard regulations imposed by our charterers applicable to our business, general domestic and international political conditions, competitive factors in the market in which Navios Holdings operates; risks associated with operations outside the United States; and other factors listed from time to time in Navios Holdings' filings with the Securities and Exchange Commission, including its Form 20-F’s and Form 6-K’s. Navios Holdings expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Holdings' expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Holdings makes no prediction or statement about the performance of its common stock. (1) Includes expenses of Navios Logistics of $16.9 million and $19.7 million for the three months ended December 31, 2016 and 2015 and $76.0 million and $82.0 million for the year ended December 31, 2016 and 2015, respectively. (2) Includes expenses of Navios Logistics of $4.0 million and $3.4 million for the three months ended December 31, 2016 and 2015 and $14.3 million and $14.0 million for the year ended December 31, 2016 and 2015, respectively. (3) Income/ (Loss) attributable to Navios Holdings common stockholders for the three month ended December 31, 2016, and for the year ended December 31, 2016, have been impacted following the completion of the Series G and Series H Exchange Program. EBITDA, Adjusted EBITDA, Adjusted Net Loss and Adjusted Basic Loss per Share are “non-U.S. GAAP financial measures” and should not be used in isolation or considered substitutes for net income/ (loss), cash flow from operating activities and other operations or cash flow statement data prepared in accordance with generally accepted accounting principles in the United States. EBITDA represents net (loss)/income attributable to Navios Holdings' common stockholders before interest and finance costs, before depreciation and amortization, before income taxes and before stock-based compensation. Adjusted EBITDA represents EBITDA, excluding certain items as described under “Earnings Highlights”. Adjusted Loss and Adjusted Basic Loss per Share, represent Net Loss and Basic Loss per Share, excluding certain items as described under “Earnings Highlights”. We use EBITDA and Adjusted EBITDA as liquidity measures and reconcile EBITDA and Adjusted EBITDA to net cash provided by operating activities, the most comparable U.S. GAAP liquidity measure. EBITDA is calculated as follows: net cash provided by operating activities adding back, when applicable and as the case may be, the effect of (i) net increase/(decrease) in operating assets, (ii) net (increase)/decrease in operating liabilities, (iii) net interest cost, (iv) deferred finance charges and gains/(losses) on bond and debt extinguishment, (v) provision for losses on accounts receivable, (vi) equity in affiliates, net of dividends received, (vii) payments for drydock and special survey costs, (viii) noncontrolling interest, and (ix) loss on sale and reclassification to earnings of available-for-sale securities and impairment charges. Navios Holdings believes that EBITDA and Adjusted EBITDA are a basis upon which liquidity can be assessed and represents useful information to investors regarding Navios Holdings’ ability to service and/or incur indebtedness, pay capital expenditures, meet working capital requirements and pay dividends. Navios Holdings also believes that EBITDA and Adjusted EBITDA are used (i) by prospective and current lessors as well as potential lenders to evaluate potential transactions; (ii) to evaluate and price potential acquisition candidates; and (iii) by securities analysts, investors and other interested parties in the evaluation of companies in our industry. EBITDA and Adjusted EBITDA are presented to provide additional information with respect to the ability of Navios Holdings to satisfy its respective obligations, including debt service, capital expenditures, working capital requirements and pay dividends. While EBITDA and Adjusted EBITDA are frequently used as measures of operating results and the ability to meet debt service requirements, the definitions of EBITDA and Adjusted EBITDA used here may not be comparable to those used by other companies due to differences in methods of calculation. EBITDA and Adjusted EBITDA have limitations as an analytical tool, and therefore, should not be considered in isolation or as a substitute for the analysis of Navios Holdings’ results as reported under U.S. GAAP. Some of these limitations are: (i) EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, working capital needs; (ii) EBITDA and Adjusted EBITDA do not reflect the amounts necessary to service interest or principal payments on our debt and other financing arrangements; and (iii) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future. EBITDA and Adjusted EBITDA do not reflect any cash requirements for such capital expenditures. Because of these limitations, among others, EBITDA and Adjusted EBITDA should not be considered as a principal indicator of Navios Holdings’ performance. Furthermore, our calculation of EBITDA and Adjusted EBITDA may not be comparable to that reported by other companies due to differences in methods of calculation. Navios Logistics EBITDA is used to measure its operating performance. The following tables provide a reconciliation of EBITDA and Adjusted EBITDA of Navios Holdings (including Navios Logistics) and EBITDA of Navios Logistics on a stand-alone basis: Navios Holdings Reconciliation of EBITDA and Adjusted EBITDA to Cash from Operations Navios Holdings Reconciliation of EBITDA and Adjusted EBITDA to Cash from Operations


MONACO, Feb. 22, 2017 (GLOBE NEWSWIRE) -- Navios Maritime Partners L.P. (“Navios Partners” or the “Company”) (NYSE:NMM) announced today that it has agreed to acquire from Navios Maritime Holdings Inc. (“Navios Holdings”) (NYSE:NM) a 47.5% participation interest that Navios Holdings indirectly owns in certain loan facilities previously made to Navios Europe Inc. (the “Transaction”). The purchase price is $27.0 million, payable in the form of (1) $4.05 million in cash and (2) approximately 13.1 million common units of NMM.  The loans being purchased have an aggregate balance of $21.4 million as of February 2017, earn interest at 12.7% annually and mature no later than December 2023 with an estimated nominal value of $51.3 million.  Navios Partners may require Navios Holdings, under certain conditions, to repurchase the loans after the third anniversary of the date of the sale based on the then outstanding balance of the loans. The Conflicts Committee of Navios Partners, comprised of independent directors, negotiated and approved the terms of the Transaction with the assistance of the Conflicts Committee's outside financial and legal advisors.  In approving the Transaction, the Conflicts Committee determined that the Transaction was fair to Navios Partners and in the best interest of Navios Partners and its unitholders. Duff & Phelps, LLC served as financial advisor, and Gibson, Dunn & Crutcher, LLP, served as legal counsel, to the Conflicts Committee. Navios Partners (NYSE:NMM) is a publicly traded master limited partnership which owns and operates container and dry bulk vessels. For more information, please visit our website at Forward-Looking Statements This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events including Navios Partners’ 2017 cash flow generation, future contracted revenues, future distributions and its ability to have a dividend going forward, opportunities to reinvest cash accretively in a fleet renewal program or otherwise, potential capital gains, our ability to take advantage of dislocation in the market and Navios Partners’ growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as “may”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates”, and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding expected revenue and time charters. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Navios Partners at the time these statements were made. Although Navios Partners believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Navios Partners. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainty relating to global trade, including prices of seaborne commodities and continuing issues related to seaborne volume and ton miles, our continued ability to enter into long-term time charters, our ability to maximize the use of our vessels, expected demand in the dry cargo shipping sector in general and the demand for our Panamax, Capesize, UltraHandymax and Container vessels in particular, fluctuations in charter rates for dry cargo carriers and container vessels, the aging of our fleet and resultant increases in operations costs, the loss of any customer or charter or vessel, the financial condition of our customers, changes in the availability and costs of funding due to conditions in the bank market, capital markets and other factors, increases in costs and expenses, including but not limited to: crew wages, insurance, provisions, port expenses, lube oil, bunkers, repairs, maintenance and general and administrative expenses, the expected cost of, and our ability to comply with, governmental regulations and maritime self-regulatory organization standards, as well as standard regulations imposed by our charterers applicable to our business, general domestic and international political conditions, competitive factors in the market in which Navios Partners operates; risks associated with operations outside the United States; and other factors listed from time to time in Navios Partners’ filings with the Securities and Exchange Commission, including its Form 20-Fs and Form 6-Ks. Navios Partners expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Navios Partners’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Navios Partners makes no prediction or statement about the performance of its common units.


News Article | February 28, 2017
Site: www.prweb.com

Albuquerque, NM, February 27, 2017 – Adventure Dental, Vision & Orthodontics and Molina Healthcare are co-hosting a Wellness Day on March 4, 2017 from 10:00 a.m. to 3:00 p.m. at Adventure’s Albuquerque location; 5000 Menaul Blvd. on the southwest corner of San Mateo and Menaul Blvds. The goal of the Wellness Day is to raise awareness about the benefits of preventative care and to expand care access to children and adults not currently taking advantage of services they are qualified to receive. Wellness Day attendees will enjoy a variety of fun and educational activities while taking advantage of a long list of needed wellness services, including: Over 65 percent of New Mexico’s children are currently enrolled in Medicaid. Because of the importance of regular wellness care for childhood development, Medicaid covers pediatric wellness exams plus twice annual dental check-ups, all medically required dental treatment, annual eye exams and glasses for children needing a vision correction. Despite this coverage, the majority of children enrolled in Medicaid are not receiving the care for which they are eligible. In studies by the Department of Health and Human Services and George Washington University, less than half of Medicaid enrolled children ages 1-20 received preventative dental or vision care in a 12 month period: Medicaid-enrolled adults are also falling short in terms of preventative care costing the U.S. healthcare system billions each year. Wellness fairs are a proven way to expand care access and educate the public on the importance of regular health screening. Adventure and Molina Healthcare are committed to driving community wellness to Albuquerque families. About Adventure Dental, Vision & Orthodontics Adventure Dental, Vision & Orthodontics is 100% focused on delivering quality care to children in underserved communities. With offices nationwide, Adventure Dental, Vision and Orthodontics has been helping children ages six months through 20 years gain access to the care they need since 2006. Their kid-friendly offices and caring staff take the fear out of dental visits, making it fun, easy and affordable for children to thrive. About Molina Healthcare of New Mexico Since 1998, Molina Healthcare of New Mexico has been providing government-funded care for low-income individuals. Our mission is to provide quality health care to people receiving government assistance As of December 2016, the company serves approximately 254,000 members through Medicaid, Medicare and Health Insurance Marketplace programs across New Mexico. Molina’s state provider network includes 2,276 primary care physicians, 9,200 specialists and 72 hospitals. Additionally, Molina owns and operates a primary care clinic in Albuquerque. Visit molinahealthcare.com and connect with us on Facebook, Twitter, Instagram and YouTube.


News Article | March 2, 2017
Site: www.businesswire.com

OKLAHOMA CITY--(BUSINESS WIRE)--Sonic Corp. (NASDAQ:SONC), the nation's largest chain of drive-in restaurants, today announced the completion of its previously announced refranchising initiative. The Company also announced that it will release results for the quarter ended February 28, 2017, after the market close on March 28, 2017. "We are pleased to have completed our refranchising effort ahead of schedule," said Cliff Hudson, Sonic Corp. CEO. “We look forward to improved capital efficiency for our business, as well as increased growth of the brand. As a part of the divestiture, franchisees have committed to developing new drive-ins in refranchised markets, allowing us to continue to increase our systemwide sales and brand footprint over the next few years. Our franchisees’ financial commitment reflects their confidence in the Sonic brand and our differentiated long-term strategy to increase sales, profits and, in turn, shareholder value.” The Company will host a conference call to review financial results on Tuesday, March 28, 2017, at 5:00 p.m. ET. The conference call can be accessed live over the phone by dialing (877) 545-1402 or (719) 325-4771 for international callers. A replay will be available one hour after the call and can be accessed by dialing (844) 512-2921 or (412) 317-6671 for international callers; the conference ID is 8513191. The replay will be available until Tuesday, April 4, 2017. An online replay of the conference call will be available approximately two hours after the conclusion of the live broadcast. A link to this event will be available on the investor section of the company's website, www.sonicdrivein.com. SONIC, America's Drive-In is the nation's largest drive-in restaurant chain serving approximately 3 million customers every day. More than 90 percent of SONIC's 3,500 drive-in locations are owned and operated by local business men and women. For 64 years, SONIC has delighted guests with signature menu items, 1.3 million drink combinations and friendly service by iconic Carhops. Since the 2009 launch of SONIC's Limeades for Learning philanthropic campaign in partnership with DonorsChoose.org, SONIC has donated $7.4 million to public school teachers nationwide to fund essential learning materials and innovative teaching resources to inspire creativity and learning in today's youth. To learn more about Sonic Corp. (NASDAQ/NM:SONC), please visit http://sonicdrivein.com and please visit or follow us on Facebook and Twitter. To learn about SONIC's Limeades for Learning initiative, please visit Limeadesforlearning.com.


News Article | February 28, 2017
Site: www.businesswire.com

OKLAHOMA CITY--(BUSINESS WIRE)--SONIC® Drive-In (NASDAQ: SONC) is offering guests delicious morning choices with new Breakfast Deals starting at 99 cents until 10 a.m. everyday. The deal includes the choice of SONIC’s highly anticipated Pancake on a Stick and other unique menu options like the Lil’ Breakfast Griller™, Jr. Breakfast Burritos and Large Regular and Specialty Drinks. Pancake on a Stick, a past fan favorite, is making a comeback at local drive-ins. This irresistible breakfast mashup is a breakfast sausage link wrapped in a warm, fluffy pancake and served on a stick with a side of sweet, maple syrup. For SONIC’s morning Breakfast Deals, guests can get their own Pancake on a Stick for $1.99; a Lil’ Breakfast Griller, with Bacon or Sausage for $1.49; or a Jr. Breakfast Burrito for only 99 cents until 10 a.m. Large Regular and Specialty Drinks are always available starting at 99 cents during our Morning Drink Stop®. “Our Pancake on a Stick is the ultimate breakfast combination, with a pancake wrapped around a savory sausage, that’s perfect for guests on the go,” said Scott Uehlein, vice president of product innovation and development at SONIC. “The new Breakfast Deals, including the Pancake on a Stick, give guests the chance to customize their morning with a variety of their favorite breakfast items.” SONIC’s Breakfast Deals are available only for a limited time at participating locations, so wake up early to rise and dine with your breakfast favorites. SONIC, America's Drive-In is the nation's largest drive-in restaurant chain serving approximately 3 million customers every day. More than 90 percent of SONIC's 3,500 drive-in locations are owned and operated by local business men and women. For 64 years, SONIC has delighted guests with signature menu items, 1.3 million drink combinations and friendly service by iconic Carhops. Since the 2009 launch of SONIC's Limeades for Learning® campaign in partnership with DonorsChoose.org, SONIC has donated $7.4 million to public school teachers' classrooms nationwide to fund essential learning materials and innovative teaching resources to inspire creativity and learning in their students. To learn more about Sonic Corp. (NASDAQ/NM: SONC), please visit sonicdrivein.com and please visit or follow us on Facebook and Twitter. To learn about SONIC's Limeades for Learning initiative, please visit LimeadesforLearning.com.


MONACO, Feb. 16, 2017 (GLOBE NEWSWIRE) -- Navios Maritime Holdings Inc. ("Navios Holdings") (NYSE:NM) announced today that it will host a conference call on Wednesday, February 22, 2017 at 8:30 am ET, at which time Navios Holdings' senior management will provide highlights and commentary on earnings results for the fourth quarter and year ended December 31, 2016. The Company will announce earnings results for the fourth quarter and year ended December 31, 2016, prior to the conference call. A supplemental slide presentation will be available on the Navios Holdings website at www.navios.com under the "Investors" section by 8:00 am ET on the day of the call. Conference Call details: Call Date/Time: Wednesday, February 22, 2017 at 8:30 am ET Call Title: Navios Holdings Q4 2016 Financial Results Conference Call US Dial In: +1.877.480.3873 International Dial In: +1.404.665.9927 Conference ID: 5694 1796 The conference call replay will be available shortly after the live call and remain available for one week at the following numbers: US Replay Dial In: +1.800.585.8367 International Replay Dial In: +1.404.537.3406 Conference ID: 5694 1796 This call will be simultaneously Webcast. The Webcast will be available on the Navios Holdings website, www.navios.com, under the "Investors" section. The Webcast will be archived and available at the same Web address for two weeks following the call. About Navios Maritime Holdings Inc. Navios Maritime Holdings Inc. (NYSE:NM) is a global, vertically integrated seaborne shipping and logistics company focused on the transport and transshipment of drybulk commodities including iron ore, coal and grain. For more information about Navios Holdings please visit our website: www.navios.com.


News Article | March 3, 2017
Site: marketersmedia.com

Situated in Farmington, New Mexico, the Dependable Maytag Home Appliance Center, a kitchen and laundry specialist, launched an improved customer appliance servicing and repair department. This department provides customers with on-call technical service, readily available parts and same-day service to reduce the downtime of appliances.Farmington, United States - March 2, 2017 /PressCable/ — Based in Farmington, New Mexico, the Dependable Maytag Home Appliance Center, a kitchen and laundry product specialist has launched a new improved customer appliance servicing and repair department. Backed by the skills of a team of full-time on-call technicians waiting to assist customers, this department also has access to the center’s warehouse of readily available parts to reduce appliance downtime. Plus, the center offers a same day service for most servicing and appliance repairs. More information is available at http://farmingtonmaytag.com. Launched in March 2017, the new improved customer appliance servicing and repair department believes that good old-fashion customer service continues long after buying a product. As such, the store’s specially trained service technicians can handle the maintenance and repair needs for any appliance whether it’s in or out of warranty. The Dependable Maytag home Appliance Center offers customers servicing and repair options for washers, dryers, refrigerator and coolers, as well as cooktops, ranges, ovens, and microwaves. In fact, any appliance the store sells can receive servicing. The center also provides customers with delivery and installation of products they buy and spare parts. Looking to deliver a stress-free solution to appliance servicing and repairs, the Dependable Maytag Home Appliance Center offers protection packages and extended servicing plans to all customers. These packages and plans cover all appliances during the warranty period and long after the manufacturer’s warranty runs out. Plus, extended servicing plans often prevent appliance break-down and give customer’s peace-of-mind. Priding itself on delivering one-on-one personalized service, the Dependable Maytag Home Appliance Center offer customer’s service not found in larger, department stores. Plus, this store stocks popular brands such as Estate, KitchenAid, Maytag and Whirlpool for all kitchen and laundry needs. The store’s staff also work within a customer’s needs, budget and lifestyle when helping them to find the right appliance. A spokesperson for the Farmington Maytag Home Appliance Center said,” Our store has more 5-star online reviews that any other dealer in the area because we treat every service call as a new appliance sale. We have been in the industry for over 30 years. Our service center has three full-time technicians, and they are always on call. Our warehouse has parts that will fit most common repair jobs. We offer same day service on nearly every repair call.” To find out more about the Dependable Maytag Home Appliance Center call (505) 327-2800 or visit http://farmingtonmaytag.com. Contact Info:Name: Dave SchritterEmail: daveschritter@farmingtonmaytag.comOrganization: Dependable Maytag Home Appliance CenterAddress: 2800 East 20th Street, Farmington, NM 87402, United StatesPhone: +1-505-327-2800For more information, please visit http://www.farmingtonmaytag.com/Source: PressCableRelease ID: 174603

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