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

Union Pacific Railroad is the principal operating company of Union Pacific Corporation (NYSE: UNP). One of America's most recognized companies, Union Pacific Railroad connects 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain. From 2007-2016, Union Pacific invested approximately $34 billion in its network and operations to support America's transportation infrastructure. The railroad's diversified business mix includes Agricultural Products, Automotive, Chemicals, Coal, Industrial Products and Intermodal. Union Pacific serves many of the fastest-growing U.S. population centers, operates from all major West Coast and Gulf Coast ports to eastern gateways, connects with Canada's rail systems and is the only railroad serving all six major Mexico gateways. Union Pacific provides value to its roughly 10,000 customers by delivering products in a safe, reliable, fuel-efficient and environmentally responsible manner. This presentation and related materials contain statements about the Company's future that are not statements of historical fact, including specifically the statements regarding the Company's expectations with respect to economic conditions and demand levels; its ability to generate financial returns, improve network performance and customer service; implementation of corporate strategies; and providing excellent service to its customers and returns to its shareholders.  These statements are, or will be, forward-looking statements as defined by the Securities Act of 1933 and the Securities Exchange Act of 1934.  Forward-looking statements also generally include, without limitation, information or statements regarding:  projections, predictions, expectations, estimates or forecasts as to the Company's and its subsidiaries' business, financial, and operational results, and future economic performance;  and management's beliefs, expectations, goals, and objectives and other similar expressions concerning matters that are not historical facts. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times that, or by which, such performance or results will be achieved.  Forward-looking information, including expectations regarding operational and financial improvements and the Company's future performance or results are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statement.  Important factors, including risk factors, could affect the Company's and its subsidiaries' future results and could cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements.  Information regarding risk factors and other cautionary information are available in the Company's Annual Report on Form 10-K for 2016, which was filed with the SEC on February 3, 2017.  The Company updates information regarding risk factors if circumstances require such updates in its periodic reports on Form 10-Q and its subsequent Annual Reports on Form 10-K (or such other reports that may be filed with the SEC). Forward-looking statements speak only as of, and are based only upon information available on, the date the statements were made.  The Company assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information.  If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements.  References to our website are provided for convenience and, therefore, information on or available through the website is not, and should not be deemed to be, incorporated by reference herein. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/union-pacific-corporation-declares-second-quarter-2017-dividend-300456229.html


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

"The driving of the final rail spike defined Union Pacific as the economic engine that connected people, moved goods and transformed America's progress," said Scott Moore, Union Pacific senior vice president - Corporate Relations. "We look forward to honoring the communities and railroad development that played critical roles in our country's growth and way of life." Union Pacific representatives presented Sacramento Mayor Darrell Steinberg with a commemorative golden spike in nearly the exact location where 1860s California Governor Leland Stanford broke ground for CP in Sacramento. The presentation was webcasted on Facebook Live, launching Union Pacific's two-year celebration of the Great Race to Promontory. The company introduced up.com/goldenspike, an interactive website illustrating the journey through 46 communities profoundly impacted by the railroad. The site features rare photographs and animated maps illustrating how America was built. Union Pacific also launched the following series of activities and celebrations that bring each community's history to life. Union Pacific will host activities and events in the following communities as part of its two-year celebration. More information about Union Pacific's celebration and event schedule is available at up.com/goldenspike.com. Union Pacific Railroad is the principal operating company of Union Pacific Corporation (NYSE: UNP). One of America's most recognized companies, Union Pacific Railroad connects 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain. In the past 10 years, Union Pacific invested approximately $34 billion in its network and operations to support America's transportation infrastructure. The railroad's diversified business mix includes Agricultural Products, Automotive, Chemicals, Coal, Industrial Products and Intermodal. Union Pacific serves many of the fastest-growing U.S. population centers, operates from all major West Coast and Gulf Coast ports to eastern gateways, connects with Canada's rail systems and is the only railroad serving all six major Mexico gateways. Union Pacific provides value to its roughly 10,000 customers by delivering products in a safe, reliable, fuel-efficient and environmentally responsible manner. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/union-pacific-celebrates-the-great-race-to-promontory-300455706.html


News Article | May 17, 2017
Site: www.enr.com

Maine Risbara Brothers Construction Co. is planning to build the Autumn Woods apartment complex in Westbrook. The development will include nine 12-unit buildings, totaling 108 apartments. The project is valued at between $10 million and $15 million. Risbara Brothers Construction Co., Attn: Jeff Dobson, 197 U.S. Route 1, Scarborough, 04070. DR#16-00559454. South Carolina Friends of the Lowcountry Low Line are planning to convert a former rail corridor in Charleston into the Lowcountry Low Line, a public park. The 1.7-mile-long corridor will become green space and trails and include basketball courts, picnic tables and artwork. Fundraising is under way, and further advancement is pending land acquisition of the right-of-way from Norfolk Southern Railway by an August 2017 deadline. The project is valued at between $20 million and $25 million. Friends of the Lowcountry Low Line, Attn: Ginny Deerin, Executive Director, 476 Meeting St., Charleston, 29403. DR#17-00642262. West Virginia The City of Oak Hill is planning to upgrade the Oak Hill Wastewater Treatment Plants. The project entails connecting to and decommissioning Arbuckle’s wastewater treatment plant and sending the flow to the upgraded Minden plant. The project is being designed by The Thrasher Group. The project is valued at $23.6 million. City of Oak Hill, Attn: William Hannabass, City Manager, 100 Kelly Ave., Oak Hill, 25901. DR#12-00479091. Ohio GPD Group Inc. has started installing non-lethal stun fences at four correctional facilities: Warren Correctional Institution, Mansfield Correctional Institution, Marysville Reformatory for Women and Trumbull Correctional Institution. The complexes will either have stun-fence arrays attached to existing good-condition fences or have existing fences replaced with new self-standing complete stun-fence systems. The stun-fence systems will need sufficient power, emergency back-up power and communication-line connections, and must also have the ability to link with camera software and mobile maps. The project is valued at $11.6 million. GPD Group Inc., 5595 Transportation Blvd., Cleveland, 44125. DR#16-00402586. Texas Structure Tone Southwest has started building the Stream Data Center in the Legacy Business Park in Plano. The two-story, 145,000-sq-ft building will have 2 MW of utility feeds from two separate substations. The building was designed by Corgan Associates Inc., and the owner is Stream Realty Partners. The project is valued at $14.5 million. Construction is expected to be completed by October, 2017. Structure Tone Southwest, 3500 Maple Ave., Dallas, 75219. DR#16-00415940. California 6/15 The City of Montclair is seeking bidders to carry out the Monte Vista Ave./Union Pacific Railroad grade separation project. The project will include the grade separation and associated roadway improvements to provide four lanes of traffic and a connector between Monte Vista Ave. and State St. It will entail elevating Monte Vista Ave., closing and removing the existing at-grade crossing, and constructing approaches between Holt St. and Mission Blvd. The project is valued $16.8 million. City of Montclair, 5111 Benito St., Montclair, 91763. DR#06-00764474. Much information for Pulse is derived from Dodge Data & Analytics, the premier project information source in the construction industry. For more information on a project that has a Dodge Report (DR) number or for general information on Dodge products and services, call 1-800-393-6343 or visit the website at www.dodgeleadcenter.com.


If you are unable to participate during the live teleconference, presentation materials and the call will be archived on Union Pacific's website at www.up.com/investor.  An MP3 downloadable audio file will also be available at the same location. Union Pacific Railroad is the principal operating company of Union Pacific Corporation (NYSE: UNP). One of America's most recognized companies, Union Pacific Railroad connects 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain. From 2007-2016, Union Pacific invested approximately $34 billion in its network and operations to support America's transportation infrastructure. The railroad's diversified business mix includes Agricultural Products, Automotive, Chemicals, Coal, Industrial Products and Intermodal. Union Pacific serves many of the fastest-growing U.S. population centers, operates from all major West Coast and Gulf Coast ports to eastern gateways, connects with Canada's rail systems and is the only railroad serving all six major Mexico gateways. Union Pacific provides value to its roughly 10,000 customers by delivering products in a safe, reliable, fuel-efficient and environmentally responsible manner. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/union-pacific-corporation-invites-you-to-join-its-1st-quarter-2017-earnings-release-broadcast-300442756.html


News Article | May 4, 2017
Site: www.businesswire.com

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 first quarter ended March 31, 2017. The following financial highlights are in thousands of dollars. “Our strong sales pipeline resulted in a fast start to 2017, with a record first quarter despite typically being the softest quarter of the year,” said Marc Eisenberg, ORBCOMM’s Chief Executive Officer. “Leveraging our continued technology innovation with new products and increased leadership in our markets, 2017 is shaping up to be a defining year for ORBCOMM.” “Total Revenues for the first quarter reached a record $51.9 million, with a strong backlog entering the second quarter,” said Robert Costantini, ORBCOMM’s Chief Financial Officer. “We generated $12.4 million of Adjusted EBITDA for the quarter, primarily driven by expanding high incremental margin Service Revenues.” For more information on recent highlights, please visit www.orbcomm.com. For the first quarter ended March 31, 2017, Service Revenues reached a record $29.5 million, up 9.7% over the prior year period. The increase in Service Revenues was from both organic growth and our most recent acquisitions, and benefiting from the OG2 satellite constellation as well a growing subscriber base across multiple lines of business. Product Sales during the first quarter of 2017 were a record $22.4 million compared to $16.6 million during the same period last year, increasing $5.8 million or 34.6%. Product Sales deliveries were higher, reflecting orders from existing customers and large orders from new customers. Total Revenues reached a record $51.9 million for the first quarter ended March 31, 2017 were up $8.4 million or 19.2% compared to $43.6 million during the same period of 2016. Total Cost of Revenues and Operating Expenses for the first quarter of 2017 were $52.3 million compared to $43.7 million in 2016, increasing largely by Cost of Revenues increasing $6.6 million mostly due to higher Product Sales, an increase in Depreciation and Amortization of $2.1 million, and higher Selling, General & Administrative costs of $0.5 million. Operating expenses were flat year-over-year excluding the impact of increased Depreciation and Amortization of $2.1 million. Income (Loss) Before Income Taxes, Net Income (Loss), and Earnings Per Share Income (Loss) Before Income Taxes for the first quarter of 2017 was a ($2.7) million loss, compared to the ($1.9) million loss for the first quarter of 2016. Net Loss attributable to ORBCOMM Inc. Common Stockholders was ($3.3) million for the first quarter of 2017, compared to Net Loss of ($2.1) million for the same period in 2016. Basic EPS was a loss of ($0.05) per share for the first quarter of 2017 versus a loss of ($0.03) per share for the same period last year. EBITDA for the first quarter of 2017 was $10.6 million compared to $8.6 million in the first quarter of 2016, an increase of $2.0 million or 22.9%. Adjusted EBITDA of $12.4 million for the first quarter of 2017 was 15.9% higher than last year’s $10.7 million in the first quarter. Adjusted EBITDA as a percentage of Total Revenues for the quarter was 23.9%, down from 24.6%. 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 March 31, 2017, Cash and Cash Equivalents totaled approximately $20.0 million, compared to $25.0 million at December 31, 2016, decreasing nearly ($5.1) million, reflecting ($5.6) million for capital expenditures, offset partially by cash flow from operations. 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 1-866-791-6248 at least ten minutes prior to the start of the call. International callers should dial 1-913-312-1383. 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 Click Here. The replay will be available from approximately 1:30 PM ET on May 4, 2017, through 1:30 PM ET on May 18, 2017. 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 1.77 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 our substantial indebtedness, currently $250 million, including the restrictive covenants under the indenture governing our notes, and other terms that could restrict our business activities or our ability to execute our strategic objectives, limit our operating flexibility or adversely affect our financial performance, all of which could be exacerbated if we incur additional indebtedness. 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 for the year ended December 31, 2016, 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 Loss 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.


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

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 21, 2017
Site: www.businesswire.com

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 senior management team will host a conference call to review results of its fourth quarter and full year ended December 31, 2016, on Tuesday, February 28, 2017, at 8:30 AM ET. ORBCOMM’s financial results for the fourth quarter and full year 2016 will be released on Tuesday, February 28, 2017. Chief Executive Officer Marc Eisenberg and Chief Financial Officer Robert Costantini will host the conference call. 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 this link. 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) 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 1.69 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.


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

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.


Patent
L.B. FOSTER RAIL TECHNOLOGIES Corporation and Union Pacific Railroad | Date: 2015-02-27

A method to determine fuel consumption, energy consumption, or both fuel consumption and energy consumption, during one test train run, or a plurality of test train runs, that is associated with modifying an operating parameter is provided. The method includes determining a reference fuel/energy consumption, and a cumulative ITE for one, or a plurality of reference train runs (CITE_(RR)) over a portion of track, and correcting the reference fuel/energy consumption using the CITE_(RR )of the one, or a plurality of reference train runs, to produce a corrected reference fuel/energy consumption value. The operating parameter is modified, and a modified fuel/energy consumption and cumulative ITE for the one, or a plurality of test train runs (CITE_(TR)), over the portion of track is determined, and a corrected test fuel/energy consumption value is obtained by correcting the modified fuel/energy consumption using the CITE_(TR )of the one, or a plurality of test train runs. The corrected reference fuel/energy consumption value and the test fuel/energy consumption value are then compared to determine the effect of modifying the operating parameter on the fuel/energy consumption during the one test run, or a plurality of test train runs.


News Article | December 15, 2016
Site: www.prweb.com

Perhaps longer than any other American singer and songwriter, Carole King has been a favorite of the Baby-Boom Generation. Her writing and recording career began in 1958 at age 16 writing hits for a wide range of performers from Bobby Vee and Tony Orlando to Aretha Franklin and the Drifters. She hit her peak in 1971 with the mega-hit album "Tapestry" setting new standards for the industry selling over 25 million copies and winning Grammy awards for Record of the Year and Song of the Year. More recently, she and James Taylor completed a Live at the Troubadour reunion tour, and the musical about her life, “Beautiful,” is a Broadway hit in New York and a recent national tour. Understanding Carole’s inspiration is easy when one sees where she lives. King has been at her 128-acre ranch for more than 30 years, but at age 74, has put it on the market. In a remote location near Sun Valley, the ranch is surrounded by national forest lands, private with mountain, forest, creek and river views. The main residence has views overlooking the ranch and the lodge has another five bedrooms and three baths with two stone fireplaces and a commercial kitchen. There are eight guest log cabins for summer guests and hot water and heat for the other structures is provided via the thermal springs that hold a 135-degree temperature year round. Thermal pools for outdoor soaks maintain 108-degrees with a unique cave bath house excavated into the side of a mountain where one can shower among boulders. The new horse stable has six stalls and frost-free water for livestock. There are several farm buildings used for equipment storage near the stable area. For the musician who prefers working from home, there is a free-standing professional recording studio with a guest apartment above. The caretaker's house has another three bedrooms, one full and two half baths with stone fireplace, beamed ceilings and large deck space. Sun Valley was a remote mining area when the Lake Placid Olympic Games of 1932 brought a new popularity to Alpine skiing in the United States. W. Averell Harriman, chief executive of the Union Pacific Railroad, began looking for a place to build a ski resort to increase passenger train service to the West Coast and hired Austrian Count Felix Schaffgotsch to find a site that had mountains, snow and was not too cold. Schaffgotsch recommended the Ketchum area in central Idaho; the resort opened in 1937 with innovations including luxury lodges, the world’s first ski chairlifts, and circular heated swimming pools. Hundreds of newspapers and magazines ran stories of the new resort, almost always accompanied by pictures of attractive swimmers in bathing suits next to the snow-covered hills. Harriman hired Miami Beach promoter Steve Hannigan, who named it “Sun Valley” and brought in stars like Clark Gable, Ernest Hemingway and Errol Flynn to publicize the new resort. Carole King’s Robinson Bar Ranch is listed at $9.9 million by Hall and Hall Real Estate in Ketchum, Idaho. Visit TopTenRealEstateDeals.com for more historic, celebrity and spectacular homes and real estate news.

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