Business Wire

Logitech Grows to Highest Ever Fiscal Year Sales, Up 16%

Del

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the fourth quarter and full year of Fiscal Year 2018, ended March 31, 2018.

For Fiscal Year 2018:

  • Sales were the highest ever at $2.57 billion, up 16 percent in US dollars and 13 percent in constant currency, compared to the prior year.
  • GAAP operating income grew 8 percent to $230 million, compared to $212 million a year ago. GAAP earnings per share (EPS) was $1.23, compared to $1.24 a year ago. Fiscal Year 2018 GAAP EPS was impacted by a $22 million ($0.13 per share) one-time net tax expense following the reduction in the U.S. federal income tax rate and other reforms.
  • Non-GAAP operating income grew 14 percent to $287 million, compared to $252 million a year ago. Non-GAAP EPS grew 13 percent to $1.60, compared to $1.41 a year ago.
  • Cash flow from operations grew 20 percent to $346 million – the highest in eight years.

For Q4 Fiscal Year 2018:

  • Sales grew to $592 million, up 16 percent in US dollars and 9 percent in constant currency, compared to the prior year.
  • GAAP operating income grew to $39 million, and non-GAAP operating income grew to a better-than-expected $55 million.
  • Cash flow from operations reached $90 million.

“Over the past five years we’ve built a business with sustainable growth. We have a resilient and expanding portfolio. We are building five scalable capabilities led by design and engineering,” said Bracken Darrell, Logitech president and chief executive officer. “Fiscal Year 2018 delivered broad-based, double-digit growth led by Gaming and Video Collaboration. Now, as we look to the next five years, we will go on the offense to accelerate the creation of an amazing company.”

Vincent Pilette, Logitech chief financial officer, said, “We’ve delivered a great fiscal year with record sales, and better-than-expected profitability and cash flow from operations. We go into Fiscal Year 2019 with strong momentum, our financial fundamentals in place, and an eye toward shaping the portfolio and reallocating resources to continuously transform.”

Outlook

Logitech confirmed its Fiscal Year 2019 outlook of high single-digit sales growth in constant currency and $310 to $320 million in non-GAAP operating income.

Management Update

On May 2, 2018, L. Joseph Sullivan, the Company’s senior vice president, worldwide operations, announced his retirement and, effective immediately, resigned from the Company’s Group Management Team. The Company accepted this resignation. Mr. Sullivan’s retirement from Logitech will be effective as of February 2, 2019, the end of his contractual notice period.

Prepared Remarks Available Online

Logitech has made its prepared written remarks for the financial results teleconference available online on the Logitech corporate website at http://ir.logitech.com.

Financial Results Teleconference and Webcast

Logitech will hold a financial results teleconference to discuss the results for Q4 and the full Fiscal Year 2018 on Thursday, May 3, 2018 at 8:30 a.m. Eastern Daylight Time and 2:30 p.m. Central European Summer Time. A live webcast of the call will be available on the Logitech corporate website at http://ir.logitech.com.

Use of Non-GAAP Financial Information and Constant Currency

To facilitate comparisons to Logitech’s historical results, Logitech has included non-GAAP adjusted measures, which exclude share-based compensation expense, amortization of intangible assets, purchase accounting effect on inventory, acquisition-related costs, change in fair value of contingent consideration for business acquisition, restructuring charges (credits), gain (loss) on investments in privately held companies, investigation and related expenses, non-GAAP income tax adjustment, and other items detailed under “Supplemental Financial Information” after the tables below. Logitech also presents percentage sales growth in constant currency to show performance unaffected by fluctuations in currency exchange rates. Percentage sales growth in constant currency is calculated by translating prior period sales in each local currency at the current period’s average exchange rate for that currency and comparing that to current period sales. Logitech believes this information, used together with the GAAP financial information, will help investors to evaluate its current period performance and trends in its business. With respect to the Company’s outlook for non-GAAP operating income, most of these excluded amounts pertain to events that have not yet occurred and are not currently possible to estimate

with a reasonable degree of accuracy. Therefore, no reconciliation to the GAAP amounts has been provided for Fiscal Year 2019.

About Logitech

Logitech designs products that have an everyday place in people's lives, connecting them to the digital experiences they care about. More than 35 years ago, Logitech started connecting people through computers, and now it’s a multi-brand company designing products that bring people together through music, gaming, video and computing. Brands of Logitech include Logitech, Ultimate Ears, Jaybird, Logitech G and ASTRO Gaming. Founded in 1981, and headquartered in Lausanne, Switzerland, Logitech International is a Swiss public company listed on the SIX

Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech at www.logitech.com, the company blog or @Logitech.

This press release contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements regarding: our preliminary financial results for the three months and fiscal year ended March 31, 2018, ability to grow and sustain growth, product portfolio, capabilities and their scalability, transformation and creation of an amazing company and its timing, momentum, reallocation of resources, and outlook for Fiscal Year 2019 operating income and sales growth. The forward-looking statements in this release involve risks and uncertainties that could cause Logitech’s actual results and events to differ materially from those anticipated in these forward-looking statements, including, without limitation: if our product offerings, marketing activities and investment prioritization decisions do not result in the sales, profitability or profitability growth we expect, or when we expect it; if we fail to innovate and develop new products in a timely and cost-effective manner for our new and existing product categories; if we do not successfully execute on our growth opportunities or our growth opportunities are more limited than we expect; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if our products and marketing strategies fail to separate our products from competitors’ products; if we do not fully realize our goals to lower our costs and improve our operating leverage; if there is a deterioration of business and economic conditions in one or more of our sales regions or product categories, or significant fluctuations in exchange rates. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in Logitech’s periodic filings with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2017 and our Annual Report on Form 10-K for the fiscal year ended March 31, 2017, available at www.sec.gov, under the caption Risk Factors and elsewhere. Logitech does not undertake any obligation to update any forward-looking statements to reflect new information or events or circumstances occurring after the date of this press release.

Note that unless noted otherwise, comparisons are year over year.

Logitech and other Logitech marks are trademarks or registered trademarks of Logitech Europe S.A and/or its affiliates in the U.S. and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.

       

LOGITECH INTERNATIONAL S.A.

PRELIMINARY RESULTS
(In thousands, except per share amounts) - unaudited
 
Three Months Ended Fiscal Years Ended
March 31, March 31,
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 2018 2017 2018 2017
 
Net sales $ 592,426 $ 510,552 $ 2,566,863 $ 2,221,427
Cost of goods sold 377,617 311,303 1,648,744 1,395,211
Amortization of intangible assets and purchase accounting effect on inventory 2,574   1,470   8,878   6,175  
Gross profit 212,235   197,779   909,241   820,041  
Operating expenses:
Marketing and selling 109,572 99,941 435,489 379,641
Research and development 37,616 33,658 143,760 130,525
General and administrative 23,387 24,683 96,353 100,270
Amortization of intangible assets and acquisition-related costs 2,553 1,279 8,930 5,814
Change in fair value of contingent consideration for business acquisition 1,833 (4,908 ) (8,092 )
Restructuring charges (credits), net   67   (116 ) 23  
Total operating expenses 173,128   161,461   679,508   608,181  
Operating income 39,107   36,318   229,733   211,860  
Interest income 1,872 1,189 4,969 1,452
Other income (expense), net (1,543 ) 734   (2,437 ) 1,677  
Income before income taxes 39,436 38,241 232,265 214,989
Provision for (benefit from) income taxes 5,032   (1,184 ) 23,723   9,113  
Net income $ 34,404   $ 39,425   $ 208,542   $ 205,876  
 
Net income per share :
Basic $ 0.21 $ 0.24 $ 1.27 $ 1.27
Diluted $ 0.20 $ 0.24 $ 1.23 $ 1.24
 
Weighted average shares used to compute net income per share:
Basic 164,374 162,023 164,038 162,058
Diluted 169,387 166,526 168,971 165,540
 
Cash dividend per share $ $ $ 0.63 $ 0.57
 
   
LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS
(In thousands) - unaudited
 
March 31, March 31,
CONDENSED CONSOLIDATED BALANCE SHEETS 2018 2017
 
Current assets:
Cash and cash equivalents $ 641,947 $ 547,533
Accounts receivable, net 214,885 185,179
Inventories 259,906 253,401
Other current assets 56,362   41,732  
Total current assets 1,173,100 1,027,845
Non-current assets:
Property, plant and equipment, net 86,304 85,408
Goodwill 275,451 249,741
Other intangible assets, net 87,547 47,564
Other assets 120,755   88,119  
Total assets $ 1,743,157   $ 1,498,677  
 
Current liabilities:
Accounts payable $ 293,988 $ 274,805
Accrued and other current liabilities 281,732   232,273  
Total current liabilities 575,720 507,078
Non-current liabilities:
Income taxes payable 34,956 51,797
Other non-current liabilities 81,924   83,691  
Total liabilities 692,600 642,566
 
Shareholders' equity:
Registered shares, CHF 0.25 par value: 30,148 30,148
Issued and authorized shares—173,106 at March 31, 2018 and 2017
Conditionally authorized shares—50,000 at March 31, 2018 and 2017
Additional paid-in capital 47,234 26,596
Treasury shares, at cost—8,527 and 10,727 shares at March 31, 2018 and 2017, respectively (165,686 ) (174,037 )
Retained earnings 1,232,316 1,074,110
Accumulated other comprehensive loss (93,455 ) (100,706 )
Total shareholders' equity 1,050,557   856,111  
Total liabilities and shareholders' equity $ 1,743,157   $ 1,498,677  
 
       
LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS
(In thousands) - unaudited
Three Months Ended Fiscal Years Ended
March 31, March 31,
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 2018 2017 2018 2017
 
Cash flows from operating activities:
Net income $ 34,404 $ 39,425 $ 208,542 $ 205,876
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation 11,077 8,642 41,295 41,121
Amortization of intangible assets 4,954 2,749 15,607 9,367
Share-based compensation expense 10,899 9,536 44,138 35,890
Gain on investments in privately held companies (119 ) (22 ) (669 ) (569 )
Deferred income taxes 413 (1,924 ) 7,141 (2,397 )
Change in fair value of contingent consideration for business acquisition 1,833 (4,908 ) (8,092 )
Other (18 ) 107 (11 ) 107
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net 137,665 92,861 (26,363 ) (46,553 )
Inventories 21,739 (234 ) 16,047 (15,428 )
Other assets 2,045 1,037 (16,908 ) (5,309 )
Accounts payable (134,016 ) (84,636 ) 17,695 24,459
Accrued and other liabilities 1,134     (21,632 ) 44,655   49,917  
Net cash provided by operating activities 90,177  

 

  47,742   346,261   288,389  
Cash flows from investing activities:
Purchases of property, plant and equipment (12,155 ) (8,432 ) (39,748 ) (31,804 )
Acquisitions, net of cash acquired (88,323 ) (66,987 )
Investment in privately held companies (360 ) (320 ) (1,240 ) (960 )
Proceeds from return of investment in privately held companies 237
Changes in restricted cash 715
Purchases of short-term investments (6,789 )
Sales of short-term investments 6,789
Purchases of trading investments (3,211 ) (1,184 ) (6,053 ) (7,052 )
Proceeds from sales of trading investments 3,214     1,212   6,423   7,124  
Net cash used in investing activities (12,512 )

 

  (8,724 ) (128,704 ) (98,964 )
Cash flows from financing activities:
Payment of cash dividends (104,248 ) (93,093 )
Payment of contingent consideration for business acquisition (5,000 )
Purchases of registered shares (10,314 ) (20,022 ) (30,722 ) (83,786 )
Proceeds from exercise of stock options and purchase rights 10,963 19,219 41,910 39,574
Tax withholdings related to net share settlements of restricted stock units (4,308 ) (5,358 ) (29,813 ) (18,412 )
Net cash used in financing activities (3,659 ) (6,161 ) (127,873 ) (155,717 )
Effect of exchange rate changes on cash and cash equivalents 3,053     1,098   4,730   (5,370 )
Net increase in cash and cash equivalents 77,059     33,955   94,414   28,338  
Cash and cash equivalents at beginning of period 564,888   513,578   547,533   519,195  
Cash and cash equivalents at end of period $ 641,947   $ 547,533   $ 641,947   $ 547,533  
 
           
LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS
(In thousands) - unaudited
 
NET SALES Three Months Ended Fiscal Years Ended
March 31, March 31,
SUPPLEMENTAL FINANCIAL INFORMATION 2018 2017 Change 2018 2017 Change
 
Net sales by product category:
Pointing Devices $ 129,937 $ 119,313 9 % $ 516,637 $ 501,562 3 %
Keyboards & Combos 136,787 120,488 14 498,472 480,312 4
PC Webcams 31,776 27,015 18 112,147 107,087 5
Tablet & Other Accessories 27,292 17,528 56 107,942 76,879 40
Video Collaboration 54,709 38,711 41 182,717 127,009 44
Mobile Speakers 13,974 39,975 (65 ) 314,817 301,021 5
Audio-PC & Wearables 55,248 60,332 (8 ) 252,330 246,390 2
Gaming 126,763 71,489 77 491,995 314,362 57
Smart Home 15,892 15,594 2 89,373 65,510 36
Other (1) 48   107   (55 ) 433   1,295   (67 )
Total net retail sales $ 592,426   $ 510,552   16 $ 2,566,863   $ 2,221,427   16
__________________
 
(1)   Other category includes products that we currently intend to transition out of, or have already transitioned out of, because they are no longer strategic to our business.
 
       
LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS
(In thousands, except per share amounts) - Unaudited
 
GAAP TO NON GAAP RECONCILIATION (A) Three Months Ended Fiscal Years Ended
March 31, March 31,
SUPPLEMENTAL FINANCIAL INFORMATION 2018 2017 2018 2017
 
Gross profit - GAAP $ 212,235 $ 197,779 $ 909,241 $ 820,041
Share-based compensation expense 971 733 3,733 2,663
Amortization of intangible assets and purchase accounting effect on inventory 2,574   1,470   8,878   6,175  
Gross profit - Non-GAAP $ 215,780   $ 199,982   $ 921,852   $ 828,879  
 
Gross margin - GAAP 35.8 % 38.7 % 35.4 % 36.9 %
Gross margin - Non-GAAP 36.4 % 39.2 % 35.9 % 37.3 %
 
Operating expenses - GAAP $ 173,128 $ 161,461 $ 679,508 $ 608,181
Less: Share-based compensation expense 9,928 8,803 40,405 33,227
Less: Amortization of intangible assets and acquisition-related costs 2,553 1,279 8,930 5,814
Less: Change in fair value of contingent consideration for business acquisition 1,833 (4,908 ) (8,092 )
Less: Restructuring charges (credit), net 67 (116 ) 23
Less: Investigation and related expenses       612  
Operating expenses - Non-GAAP $ 160,647   $ 149,479   $ 635,197   $ 576,597  
 
% of net sales - GAAP 29.2 % 31.6 % 26.5 % 27.4 %
% of net sales - Non - GAAP 27.1 % 29.3 % 24.7 % 26.0 %
 
Operating income - GAAP $ 39,107 $ 36,318 $ 229,733 $ 211,860
Share-based compensation expense 10,899 9,536 44,138 35,890
Amortization of intangible assets 4,954 2,749 15,607 9,367
Purchase accounting effect on inventory 173 789 1,160
Acquisition-related costs 1,412 1,462
Change in fair value of contingent consideration for business acquisition 1,833 (4,908 ) (8,092 )
Restructuring charges (credit), net 67 (116 ) 23
Investigation and related expenses             612  
Operating income - Non - GAAP $ 55,133     $ 50,503     $ 286,655     $ 252,282  
 
% of net sales - GAAP 6.6 % 7.1 % 8.9 % 9.5 %
% of net sales - Non - GAAP 9.3 % 9.9 % 11.2 % 11.4 %
 
Net income - GAAP $ 34,404 $ 39,425 $ 208,542 $ 205,876
Share-based compensation expense 10,899 9,536 44,138 35,890
Amortization of intangible assets 4,954 2,749 15,607 9,367
Purchase accounting effect on inventory 173 789 1,160
Acquisition-related costs 1,412 1,462
Change in fair value of contingent consideration for business acquisition 1,833 (4,908 ) (8,092 )
Restructuring charges (credit), net 67 (116 ) 23
Investigation and related expenses 612
Gain on investments in privately held companies (119 ) (22 ) (669 ) (569 )
Non-GAAP income tax adjustment 4,249   (4,226 )   6,282     (12,875 )
Net income - Non - GAAP $ 54,560   $ 49,362     $ 271,077     $ 232,854  
 
Net income per share:
Diluted - GAAP $ 0.20 $ 0.24 $ 1.23 $ 1.24
Diluted - Non - GAAP $ 0.32 $ 0.30 $ 1.60 $ 1.41
 
Shares used to compute net income per share:
Diluted - GAAP and Non - GAAP 169,387 166,526 168,971 165,540
 
       
LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS
(In thousands) - unaudited
 
SHARE-BASED COMPENSATION EXPENSE Three Months Ended Fiscal Years Ended
March 31, March 31,
SUPPLEMENTAL FINANCIAL INFORMATION 2018 2017 2018 2017
 
Share-based Compensation Expense
Cost of goods sold $ 971 $ 733 $ 3,733 $ 2,663
Marketing and selling 4,417 4,036 17,765 14,723
Research and development 1,584 1,193 6,381 4,200
General and administrative 3,927   3,574   16,259   14,304  
Total share-based compensation expense 10,899 9,536 44,138 35,890
Income tax benefit (4,077 )   (2,444 )   (15,998 ) (8,536 )
Total share-based compensation expense, net of income tax $ 6,822   $ 7,092   $ 28,140   $ 27,354  
 

Note: These preliminary results for the three months and fiscal year ended March 31, 2018 are subject to adjustments, including subsequent events that may occur through the date of filing our Annual Report on Form 10-K.

(A) Non-GAAP Financial Measures

To supplement our condensed consolidated financial results prepared in accordance with GAAP, we use a number of financial measures, both GAAP and non-GAAP, in analyzing and assessing our overall business performance, for making operating decisions and for forecasting and planning future periods. We consider the use of non-GAAP financial measures helpful in assessing our current financial performance, ongoing operations and prospects for the future as well as understanding financial and business trends relating to our financial condition and results of operations.

While we use non-GAAP financial measures as a tool to enhance our understanding of certain aspects of our financial performance and to provide incremental insight into the underlying factors and trends affecting both our performance and our cash-generating potential, we do not consider these measures to be a substitute for, or superior to, the information provided by GAAP financial measures. Consistent with this approach, we believe that disclosing non-GAAP financial measures to the readers of our financial statements provides useful supplemental data that, while not a substitute for GAAP financial measures, can offer insight in the review of our financial and operational performance and enables investors to more fully understand trends in our current and future performance. In assessing our business during the quarter and year ended March 31, 2018, we excluded items in the following general categories, each of which are described below:

Share-based compensation expenses. We believe that providing non-GAAP measures excluding share-based compensation expense, in addition to the GAAP measures, allows for a more transparent comparison of our financial results from period to period. We prepare and maintain our budgets and forecasts for future periods on a basis consistent with this non-GAAP financial measure. Further, companies use a variety of types of equity awards as well as a variety of methodologies, assumptions and estimates to determine share-based compensation expense. We believe that excluding share-based compensation expense enhances our ability and the ability of investors to understand the impact of non-cash share-based compensation on our operating results and to compare our results against the results of other companies.

Amortization of intangible assets. We incur intangible asset amortization expense, primarily in connection with our acquisitions of various businesses and technologies. The amortization of purchased intangibles varies depending on the level of acquisition activity. We exclude these various charges in budgeting, planning and forecasting future periods and we believe that providing the non-GAAP measures excluding these various non-cash charges, as well as the GAAP measures, provides additional insight when comparing our gross profit, operating expenses and financial results from period to period.

Purchase accounting effect on inventory. Business combination accounting principles require us to measure acquired inventory at fair value. The fair value of inventory reflects the acquired company’s cost of manufacturing plus a portion of the expected profit margin. The non-GAAP adjustment excludes the expected profit margin component that is recorded under business combination accounting principles associated with our business acquisitions. We believe the adjustment is useful to investors because such charges are not reflective of our ongoing operations.

Acquisition-related costs and change in fair value of contingent consideration for business acquisition. We incurred expenses and credits in connection with our acquisitions which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. Acquisition related costs include all incremental expenses incurred to affect a business combination. Fair value of contingent consideration is associated with our estimates of the value of earn-outs in connection with certain acquisitions. We believe that providing the non-GAAP measures excluding these costs and credits, as well as the GAAP measures, assists our investors because such costs are not reflective of our ongoing operating results.

Restructuring charges (credits). These expenses are associated with re-aligning our business strategies based on current economic conditions. We have undertaken several restructuring plans in recent years. In connection with our restructuring initiatives, we incurred restructuring charges related to employee terminations, facility closures and early cancellation of certain contracts. We believe that providing the non-GAAP measures excluding these charges, as well as the GAAP measures, assists our investors because such charges (credits) are not reflective of our ongoing operating results in the current period.

Gain (loss) on investments in privately held companies. We recognized gain (loss) related to our investments in various privately-held companies, which varies depending on the operational and financial performance of the privately-held companies in which we invested. We believe that providing the non-GAAP measures excluding these charges, as well as the GAAP measures, assists our investors because such charges are not reflective of our ongoing operations.

Investigation and related expenses. These expenses are forensic accounting, audit, consulting and legal fees related to the Audit Committee’s investigation and the formal investigation by and settlement with the Securities and Exchange Commission (SEC), together with accruals based on settlement with the SEC. We believe that providing the non-GAAP measures excluding these charges, as well as the GAAP measures, assists our investors because such charges are not reflective of our ongoing operations.

Non-GAAP income tax adjustment. Non-GAAP income tax adjustment primarily measures the income tax effect of non-GAAP adjustments excluded above and other events; the determination of which is based upon the nature of the underlying items, the mix of income and losses in jurisdictions and the relevant tax rates in which we operate. For example, we recognized more GAAP income tax expense in the third and fourth quarter of fiscal year 2018 as a result of the U.S. tax reform that we have excluded as a one-time charge on a non-GAAP basis.

Each of the non-GAAP financial measures described above, and used in this press release, should not be considered in isolation from, or as a substitute for, a measure of financial performance prepared in accordance with GAAP. Further, investors are cautioned that there are inherent limitations associated with the use of each of these non-GAAP financial measures as an analytical tool. In particular, these non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles and many of the adjustments to the GAAP financial measures reflect the exclusion of items that are recurring and may be reflected in the Company’s financial results for the foreseeable future. We compensate for these limitations by providing specific information in the reconciliation included in this press release regarding the GAAP amounts excluded from the non-GAAP financial measures. In addition, as noted above, we evaluate the non-GAAP financial measures together with the most directly comparable GAAP financial information.

Additional Supplemental Financial Information - Constant Currency

In addition, Logitech presents percentage sales growth in constant currency to show performance unaffected by fluctuations in currency exchange rates. Percentage sales growth in constant currency is calculated by translating prior period sales in each local currency at the current period’s average exchange rate for that currency and comparing that to current period sales.

(LOGIIR)

Contact information

Logitech International
Ben Lu
Vice President, Investor Relations - USA
510-713-5568
or
Krista Todd
Vice President, External Communications - USA
510-713-5834
or
Ben Starkie,
Corporate Communications - Europe
+41 (0) 79-292-3499

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

American Airlines Announces Nonstop Philadelphia (PHL) to Orlando Melbourne (MLB)21.9.2018 22:13Pressemelding

Glorious beaches by day and theme park fireworks by night just got more convenient for Philadelphia travelers. American Airlines announced today that it will begin nonstop flights to Orlando Melbourne International Airport (MLB) starting February 16, 2019. The Central Florida airport is conveniently located in the heart of the tourism region and is the closest airport to NASA rocket launches, Port Canaveral’s cruises and what critics call “some of the most beautiful beaches Florida has to offer.” The flights will depart Saturdays from Philadelphia at 8:05 a.m., arriving in Florida at 10:48 a.m. The Embraer 175 jet arrival time syncs perfectly with cruise ship noon early boarding. Melbourne Airport Express offers nonstop shuttle service to the port, and all major rental car companies are onsite. The return flight to PHL departs at 11:24 a.m. and arrives in PHL at 1:55 p.m., with enough time to connect to some of American’s largest international destinations, including recently announced

Amy Palladino Joins BCW as Executive Vice President, Managing Director, Corporate Practice21.9.2018 17:43Pressemelding

BCW (Burson Cohn & Wolfe), a leading global communications agency, today announced that Amy Palladino has joined the agency as Executive Vice President, Managing Director in the agency’s U.S. Corporate Practice. Based in New York, Palladino will focus on senior client counsel and executive positioning for the agency’s largest corporate clients. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180921005507/en/ Amy Palladino Joins BCW (Burson Cohn & Wolfe) “Amy is a talented and highly experienced communications executive with a track record of solving clients’ complex challenges and building business through smart, integrated communications approaches,” said Chris Foster, President, North America, BCW. “Her creativity and judgement will be enormously valuable to our current and prospective clients.” Palladino has more than 20 years of experience advising global clients across numerous industries, including technology, healthcar

Heidelberg Engineering Announces the CE-Marking of ANTERION21.9.2018 16:41Pressemelding

Heidelberg Engineering, the leader in diagnostic imaging known for the internationally-acclaimed SPECTRALIS ® retina and glaucoma platform, announces the CE-marking of ANTERION ® – an innovative platform designed to transform anterior segment diagnostics and workflow. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180921005442/en/ The new Heidelberg Engineering ANTERION® provides the most important anterior segment examinations and measurements in one modular, upgradeable platform. (Graphic: Business Wire) The new ANTERION provides the most important anterior segment examinations and measurements in one modular, upgradeable platform. It is a single, workflow-efficient solution that brings together corneal topography and tomography, anterior segment metrics, axial length measurement and IOL calculation to transform the day-to-day routine of busy practices and clinics. Heidelberg Engineering has leveraged its core OCT technolo

Florian Winterstein Becomes New CEO of Jedox21.9.2018 15:46Pressemelding

The supervisory board of Jedox AG, a leading vendor of business intelligence and enterprise planning software, has appointed Florian Winterstein as Chief Executive Officer (CEO) effective October 2, 2018. This nomination will support Jedox’s international growth and a new development phase initiated by its latest fund raising in April 2018 with Iris Capital, eCAPITAL entrepreneurial Partners AG and Wecken & Cie. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180921005416/en/ Florian Winterstein (Photo: Business Wire) With 25 years of experience in strategy consulting and leadership in software and service organizations, Winterstein brings to the company a valuable combination of expertise in cloud solutions, business development, and value creation for customers and partners. As former Chief Strategy Officer of BravoSolution, he positioned the software-as-a-service company as trendsetting digitalization partner, extending it

Takeda Receives Positive CHMP Opinion Recommending ALUNBRIG® (brigatinib) for the Treatment of ALK+ Non-Small Cell Lung Cancer in Patients Previously Treated with Crizotinib21.9.2018 13:30Pressemelding

Takeda Pharmaceutical Company Limited (TSE: 4502) today announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion, recommending the full approval of ALUNBRIG® (brigatinib) as a monotherapy for the treatment of adult patients with anaplastic lymphoma kinase-positive (ALK+) advanced non-small cell lung cancer (NSCLC) previously treated with crizotinib. ALUNBRIG is a tyrosine kinase inhibitor (TKI) designed to target and inhibit the ALK mutation in NSCLC. Approximately three to five percent of NSCLC patients globally have the ALK mutation. If the CHMP opinion is affirmed, and the European Commission approves ALUNBRIG, it will become the only ALK inhibitor available in the European Union as a one tablet per day dose that can be taken with or without food. The randomized, global Phase 2 ALTA trial was designed to investigate the efficacy and safety of ALUNBRIG in patients with locally advanced or metastatic ALK+

Asda Selects HCL Technologies to Help Drive IT Transformation21.9.2018 12:16Pressemelding

HCL Technologies (HCL), a leading global technology company, today announced that it has been selected to help drive IT transformation at the UK’s third-largest grocery retailer, Asda. The three-year application services contract will see HCL transform Asda’s IT Application Services with a new DevOps delivery model to drive data and analytics and support back-office applications through the full lifecycle of development, testing and support. HCL will also build a central data management platform to enable Asda to improve its insight and analytics capabilities. Asda operates more than 600 stores across the UK, employing over 135,000 people. Asda wanted to adopt a more agile approach towards application development and testing. This would allow the company to respond faster to business requirements and reduce time to market, while driving better user experience and satisfaction. HCL was selected due to its extensive expertise in successfully delivering similar large scale IT transformati