Evidence for an Allee effect in a declining fur seal population

Posted On May 9 2021 by

first_imgAllee effects play an important role in the dynamics of many populations and can increase the risk of local extinction. However, some authors have questioned the weight of evidence for Allee effects in wild populations. We therefore exploited a natural experiment provided by two adjacent breeding colonies of contrasting density to investigate the potential for Allee effects in an Antarctic fur seal (Arctocephalus gazella) population that is declining in response to climate change-induced reductions in food availability. Biometric time-series data were collected from 25 pups per colony during two consecutive breeding seasons, the first of which was among the worst on record in terms of breeding female numbers, pup birth weights and foraging trip durations. In previous decades when population densities were higher, pup mortality was consistently negatively density dependent, with rates of trauma and starvation scaling positively with density. However, we found the opposite, with higher pup mortality at low density and the majority of deaths attributable to predation. In parallel, body condition was depressed at low density, particularly in the poor-quality season. Our findings shed light on Allee effects in wild populations and highlight a potential emerging role of predators in the ongoing decline of a pinniped species.last_img read more


Improved lettings and commission rates protect Winkworth from declining sales market

Posted On May 7 2021 by

first_imgUpmarket franchised estate agency chain Winkworth says its perky lettings operation and increased sales commission rates have protected it from the worst of the stalling housing market during the first six months of this year.Winkworth’s network’s revenues from property sales dropped by 7% from £11.6 million to £10.8 million while its lettings turnover increased by 6% from £9.7 million to £10.3 million.Half the company’s income now comes from lettings and property management, it says.This reduction in property sales income is in part due to plummeting prices in the capital, which are down 12% since the Brexit vote.“In the country, prices have remained static, the market being more domestically focussed and less affected by stamp duty changes, as well as affordability ratios looking more attractive,” it says.Winkworth claims that the local knowledge and experience of its franchisees have also helped the firm outperform many of its geographic competitors.The company, whose HQ is off Oxford Street in Central London, has also grown its franchise network and says it is on target to open eight new branches this year.The company has just over 100 offices mainly in London and the Home Counties and says the number of  agents looking to open or convert to a Winkworth office has more than doubled over the past 12 months.“We made good progress in the first half of 2018, not only with a rise in lettings and property management income but also with a sharp increase in new franchise applicants,” says Dominic Agace, Winkworth’s CEO (left).half year results Dominic Agace winkworth September 12, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Agencies & People » Improved lettings and commission rates protect Winkworth from declining sales market previous nextAgencies & PeopleImproved lettings and commission rates protect Winkworth from declining sales marketLatest results for first six months of 2018 reveal sales revenues down 7% as it prepares to open eight new branches this year.Nigel Lewis12th September 201801,146 Viewslast_img read more


UK: Royal Marines Storm Ashore on Sleepy Cornish Beach

Posted On May 4 2021 by

first_img View post tag: Marines Training & Education View post tag: Sleepy View post tag: Cornish Royal Marines stormed ashore on a sleepy Cornish beach as training for the Navy’s key autumn deployment approaches its climax. Green berets from 45 Commando ‘invaded’ Barnpool in Plymouth Sound – one of the final exercises before the Response Force Task Group sails to the Mediterranean for two months of training with international allies.Armed  Royal Marines have landed on a Cornish beach from fast raiding craft as activity grows ahead of Exercise Cougar 12.The manoeuvre this morning, by a contingent of 30 Commandos, was one of several training serials happening around the South West before the largest Royal Navy exercise of 2012.The marines, from Arbroath-based 45 Commando, plunged with training weapons from their rigid inflatable boats into the shallow waters of Barnpool Beach, opposite Plymouth. They are part of more than 3,000 sailors and Marines gearing up for the two-month training deployment to the Mediterranean later this month – this year’s key workout of the UK’s high-readiness task group.Exercise Cougar 12 will see six warships and support vessels, Royal Marine Commandos and six Naval Air Squadrons – making up the Response Force Task Group (RFTG) – train with French and Albanian counterparts.Armed Forces Minister, Andrew Robathan, said:“This exercise by the Royal Marines marks the start of the deployment of the UK’s Response Force Task Group, a flexible, scalable and potent force forming part of our contingent capability.“This Royal Navy deployment, ready and able to respond to emerging events worldwide, will work alongside our allies at a time when international co-operation and joint operations are more important than ever before.”Commodore Paddy McAlpine, Commander UK Task Group, who leads the task group on Exercise Cougar 12, stressed the drills were part of a long-planned training exercise that has been 12 months in the planning and is designed to refresh the Royal Navy and Royal Marines’ amphibious skills following a focus on land-based operations in Afghanistan.Commodore McAlpine said:“My role is to lead the Response Force Task Group and ensure it is an adaptable and integrated force. This is a flexible force which can act as a whole or be split up and respond to any call on its resources. “The Royal Navy is itself a flexible, versatile force and has ships and units worldwide which can also integrate into the task group if needed. It can be adapted to whatever task the Government wants it to do.’’ “Cougar 12 provides us with a superb opportunity to rekindle our amphibious capability after a prolonged period when our focus has been on operations elsewhere. “Commodore McAlpine also said an important part of the role of the task group was to work closely with the French aircraft carrier Charles de Gaulle, and its strike group, as a joint expeditionary force while on Exercise Cougar 12.Brigadier Martin Smith will lead Plymouth-based 3 Commando Brigade during Cougar 12, which will include training landings in Albania. He said today’s exercise by Yankee Company of 45 Commando Royal Marines was useful practice, reinforcing skills such as hovercraft, boat and landing craft handling.Brigadier Smith said:“The South West coast is an ideal environment for preparing for the major Cougar element of landing on Albania’s really challenging coastline and inland. “We are focussed on well-planned training objectives and specific aims which are subtle and the idea is to provide the UK Government with a flexible force which can be inserted into any coastal environment and withdrawn again. My Marines can be on reconnaissance, engage with friendly forces or be directed at targets.”[mappress]Naval Today Staff,October 05, 2012; Image: Royal Navy View post tag: Ashore View post tag: Navy View post tag: beach Back to overview,Home naval-today UK: Royal Marines Storm Ashore on Sleepy Cornish Beach center_img View post tag: Naval View post tag: News by topic October 5, 2012 Share this article UK: Royal Marines Storm Ashore on Sleepy Cornish Beach View post tag: Storm View post tag: Royallast_img read more


Press release: Statement from UK on President Abbas’ comments

Posted On Apr 20 2021 by

first_img Email [email protected] For journalists Further information Follow Minister Burt on Twitter @AlistairBurtUK Media enquiries Follow the Foreign Office on Twitter @foreignoffice and Facebook At a highly sensitive time in the region, when we must all look forwards and work urgently towards a resolution of the longstanding issues between Israel and the Palestinian people, the fundamentals of peace cannot be built on views of the Holocaust which fly in the face of history. Palestinian President Abbas’s comments at the Palestinian National Congress were deeply concerning. Any attempt to justify or explain away any element of the Holocaust is unacceptable. President Abbas has shown a commitment to non-violence and a two-state solution. But his recent rhetoric does not serve the interests of the Palestinian people and is deeply unhelpful to the cause of peace. Minister Burt said: Follow the Foreign Office on Instagram, YouTube and LinkedInlast_img read more


College’s Ireland study abroad program celebrates 40th anniversary

Posted On Jan 26 2021 by

first_imgThis fall marks the 40th anniversary of the Maynooth, Ireland, program at Saint Mary’s, making it the longest-running study abroad program at the College, Karen Chambers, associate professor of psychology and faculty coordinator of the Ireland program said.A week-long celebration of the program’s anniversary is planned in Ireland, Chambers said, including a visit from College President Jan Cervelli, an Ireland tour for program alumnae and a Mass at Maynooth Chapel.“It’s very hard to get a special Mass scheduled there,” she said. “It’s a great honor to be allowed.”The celebration will conclude with a dinner for guests, alumnae and current Ireland program students at Barberstown Castle, Chambers said.Chambers visits Maynooth University — the school where Saint Mary’s students study — every other year, she said. While there, Chambers said, she works with the administrators and professors at Maynooth University to make sure Saint Mary’s students are being taken care of both academically and personally.“With all of our programs, we try to have personal relationships with the people there,” she said. “That helps us help our students while they are abroad.”Chambers said students who participate in the study abroad program reap several benefits, including academic ones.“A fundamental part of a liberal arts education is being able to understand questions from multiple perspectives, and study abroad is living that,” Chambers said. “Academically, students get a richer understanding of culture and the world.”Most of the students who study abroad in Ireland are sophomores living on their own for the first time, Chambers said.“Students learn how to cook, budget and travel on their own. That helps them step up into themselves,” she said. “It’s a personally enriching experience.”Senior Jessica McCartney, who studied in Ireland during her sophomore year, experienced that personal enrichment for herself. She won first prize in the 2016 Study Abroad Essay Competition at Saint Mary’s. The inspiration for her essay came from exploring the world at a young age, she said.“The inspiration came from a quiet moment of awe,” McCartney said. “ … I was overcome with the awareness of where I was and what I was doing. I was seeing the world, and I wasn’t even 20 years old yet. It was a humbling and exhilarating realization. I couldn’t help but put it into words.”Junior Elizabeth “E.V.” Dundon, a student who studied in Ireland last spring said she chose to attend Saint Mary’s specifically because she wanted to study abroad in Ireland and learn more about her heritage. She also said the Irish people are welcoming, helpful and curious to learn more about America.The Ireland program and study abroad provides students with the chance to grow in their self-confidence, Dundon said.“I learned I could easily take care of myself,” she said. “I learned I could take care of myself and not be worried. I learned I can be confident when traveling. I have a boost of confidence and self-assurance.”Tags: Ireland, Maynooth, Saint Mary’s study abroadlast_img read more


HERE ambassador program serves as a reminder to follow guidelines

Posted On Jan 26 2021 by

first_imgAs students navigate their first days back on campus, HERE ambassadors strive to guide the Notre Dame community in protocols designed to help stop the spread of COVID-19.Torence Witherspoon, a HERE ambassador, said the program was created this summer to be a positive force that addresses the needs of students, faculty and staff as they return to campus and adjust to following the many new policies necessary to keep the University open.Karen Sunshine, director of game day hospitality, played an integral role in creating the HERE ambassador program. To fill the ambassador roles, the University pulled approximately 45 employees from different departments — including Special Events and the Morris Inn — whose previous jobs would have been hard to sustain in the era of COVID-19, Sunshine said. These employees then underwent a three-day training program to prepare them to work as ambassadors.“We learned to remind people about new safety measures and direct them to resources — on the website they have some great maps of outdoor spaces, and they have a dashboard that just went up this week of the latest testing data,” said Callee Stirn, a HERE ambassador. “A big part of our job is just being in physical presence to remind people to follow protocol.”Now that students are back on campus and ambassadors are starting to put their training in action, it is becoming evident that the program may adjust, Sunshine said. While she said she believes students are doing a good job wearing masks, there are some instances that need to be better addressed by the ambassador program. Whether this means providing a laundry service to assist students in adequate washing of their masks or helping remind students to sit further apart when eating on the quad.“Our job here is to is to further the goal of staying on campus, not just with the scientific portion of this plan, but also with a PR team in tune with the actual campus climate to make a cultural shift on campus so that we’re all engaging in the right protocols to stay here,” she said.As an ambassador, Witherspoon also understands that life with coronavirus is hard to get used to and requires genuine effort to change normal habits.“We understand that not wearing a mask is not about any disrespect or not wanting to follow the rules,” he said. “It’s simply that you guys are 18 to 22 year olds, and this is not a normal environment for you guys to be in. We understand that, but we also want to succeed in our goal of staying here all semester because we understand the importance of the Notre Dame experience that comes along with the educational experience here. So we’re physical reminders of the HERE policies to help that goal be successful.”As far as the current success, Sunshine, Stirn and Witherspoon all agreed that students, faculty and staff have exceeded expectations for following policies, especially mask wearing.“I think we’re doing a good job,” Witherspoon said, “but that doesn’t mean take your foot off the pedal. With a pandemic, when we’re talking about transmission, 3 to 5% of non-compliance can be an issue. I do think that largely students are doing their best and really want to engage in these protocols so that we can stay here all semester.”In essence, Sunshine said, the ambassador program aims to be the human side of the HERE campaign on campus. Touched by a recent conversation with a student, Sunshine said the program is especially important because it may be what helps campus stay open. Ultimately, students, faculty and staff should have one takeaway about the ambassador program, she said — ambassadors are open, approachable and just trying to make this semester more positive for campus.“When you’re coming in contact with your ambassadors, and they’re encouraging you to put on your mask or to physically distance, it really is because we want to be able to be here and stay here and enjoy this campus for what it is,” Witherspoon said. “We just really believe in what the end goal is here — to stay on campus. As a community, we all have to commit to that.”Tags: COVID-19, HERE ambassadors, HERE campaign, mask wearinglast_img read more


Green Mountain Coffee Roasters Q1 report: sales up, net income down

Posted On Jan 1 2021 by

first_img (6,023 ) 92,579 – (168,619 ) Cash and cash equivalents at beginning of period 241,811 Thirteen 147,036,072 Liabilities assumed in conjunction with acquisitions $ 32,921 147,036,072 Restricted cash and cash equivalents Long-term deferred income taxes, net (3,638 ) Goodwill $ 0.18 23,488 Total stockholders’ equity Proceeds from issuance of common stock under compensation plans Non-GAAP Liabilities and Stockholders’ Equity Net sales 141,374,327 Change in cash balances included in short-term assets held for sale (1,630 ) Total parent stockholders’ equity – 573,935 (2,309 ) 26,997 Cash flows from financing activities: 148,034 (10,167 ) 30,003 Receivables, less uncollectible accounts and return allowances    of $28,989 and $14,056 at December 25, 2010 and    September 25, 2010, respectively 411 – Changes in assets and liabilities, net of effects of acquisition: $ 0.11 2010 49,657 (3,468 ) Income before income taxes – Gross profit – 1,605 1,934 9,961 Adjustments to reconcile net income to net cash  provided by operating activities: 96,262 Preferred stock, $0.10 par value: Authorized – 1,000,000 shares;     No shares issued or outstanding – Stockholders’ equity: Diluted income per share: 1,901 – Current portion of long-term debt 6,846 Net sales $ 0.12 $ 0.11 139,220 Accrued compensation costs $ 1,533 243 335,504 75,750 Selling and operating expenses $ 345,152 SEC Inquiry Expenses 95,577 – – 1,076,541 Current liabilities related to assets held for sale 12,421 December 25, Total current liabilities 5,853 18,066 Current assets: 5,989 53,375 Noncash investing activity: Gross profit 16,384 24,236 – 5,191 Common stock, $0.10 par value: Authorized – 200,000,000 shares;    Issued – 141,569,636 and 132,823,585 shares at December 25, 2010    and September 25, 2010, respectively Loss on disposal of fixed assets Acquisition of Timothy’s Coffee of the World Inc. 3,680 – Non-GAAP – Cash flows from investing activities: (354,544 ) (2,376 ) $ 0.18 $ 10,060 Other income (expense) 17,871 (6,377 ) 216,073 53,375 $ – Thirteen 2010 $ 2,254 (1,250 ) Net cash provided by financing activities 12,421 42,887 (1,048 ) Net cash provided by operating activities Net income 78,448 2,261 Excess tax benefits from equity-based compensation plans $ 1,370,574 (1,605 ) 8,516 weeks ended Income tax payable weeks ended 16,545 December 26, Accounts payable 249,575 (As Restated) Net sales Retained earnings Additional paid-in capital Weighted average shares outstanding – 41,115 24,211 95,577 (354 ) Gain (loss) on foreign currency, net 15,971 Cost of sales 78,448 Net income attributable to GMCR (10,167 ) 14,157 Receivables Income tax expense Thirteen weeks ended December 25, 2010 392 137 34 Other long-term assets 963,367 145 (1,524 ) 469 – General and administrative expenses $ 0.01 – 1,124 Net (decrease) increase in cash and cash equivalents 42,887 (7,811 ) Net Income (16,662 ) Cash and cash equivalents at end of period Less: Net income attributable to noncontrolling interests 19,030 $ – December 25, 25,839 – Basic income per share: – 141,374,327 $ 0.03 298 (As Restated) Cash flows from operating activities: 11,181 14,707 – (375 ) – 430,613 699,245 65,247 $ 0.03 December 25, 2,922 weeks ended Total assets Depreciation 1,605 – $ 4,401 Diluted income per share: 495,269 GREEN MOUNTAIN COFFEE ROASTERS, INC. Unaudited Consolidated Statements of Operations (Dollars in thousands) 10,060 (578 ) Deferred compensation and stock compensation (23,701 ) Proceeds from disposal of fixed assets 185 297,067 43,896 – 269,132 Provision for sales returns 473,749 Capital lease obligations 389,608 12,164 $ – (186,935 ) 2,143 – – $ 2,229 Other long-term liabilities 5 $ 0.02 95,577 Proceeds from issuance of common stock Weighted average shares outstanding 6,377 GAAP (834 ) Other long-term assets, net 137,486,331 Thirteen 6,160 23,079 2,260 – – Fixed asset purchases included in accounts payable  and not disbursed at the end of each year $ 8,350 262,478 81 – 29,828 Other income (expense) Income tax receivable, net 6,752 4,624 Other current assets 141,374,327 – Long-term liabilities related to assets held for sale Net income Operating income Acquisition-related Transaction Expenses 2009 144,414 26,097 (49,422 ) Inventories Amortization of Identifiable Intangibles – 2,143 Net income attributable to GMCR (354 ) Other long-term liabilities $ 1,206 – 25 $ 10,060 21 Amortization of deferred financing fees Current liabilities: Noncontrolling interests Deferred financing fees – 21,885 $ 2,539,253 – (6,377 ) 172,200 130,969,293 – Income taxes receivable – Cost of sales $ 0.02center_img (47,406 ) – (914 ) (955,144 ) Weighted average shares outstanding Current assets held for sale Acquisition- related Transaction Expenses 145 $ – 25 130,969,293 5,252 23,079 725,984 Net cash used in investing activities Operating income Operating income Accounts payable – 137,486,331 249,524 769,401 (41,438 ) 32,669 (154,742 ) Advance on acquisition of Diedrich Coffee, Inc. 288,095 4,377 General and administrative expenses 147,036,072 $ 345,152 (937 ) December 26, Long-term assets held for sale 19,030 Other short-term liabilities 130,969,293 Accrued expenses 258,923 $ 26,075 2010 4,401 144,414 $ 575,027 Provision for doubtful accounts $ 73,192 September 25, Total current assets 78,448 8,668 249,575 – 5,989 (6,023 ) Basic income per share: (8,517 ) Acquisition of LJVH Holdings, Inc. (Van Houtte) GAAP 250 $ – 6,160 $ 10,060 914 Tax benefit from exercise of non-qualified options and  disqualified dispositions of incentive stock options $ 575,027 (354 ) Gain (loss) on foreign currency, net Net income Selling and operating expenses Cost of sales 430,613 – 147,036,072 Amortization of intangibles 430,613 $ 0.03 13,560 – Repayment of long-term debt $ 0.03 Income tax expense 17,871 Interest expense 4,662 – – – 25,072 5,058 213,844 384 GREEN MOUNTAIN COFFEE ROASTERS, INC. GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations (Dollars in thousands) 22,070 220,005 Total liabilities and stockholders’ equity 958,115 141,374,327 (1,048 ) Income before income taxes Loss on financial instruments, net Inventories Assets (7,811 ) – – 23,172 Gain (loss) on financial instruments, net Basic income per share: $ 8,476 167,632 (As Restated) 1,977 Gain (loss) on foreign currency, net Diluted income per share: 3,309 – – $ 0.03 – Net income Excess tax benefits from equity-based compensation plans 24,626 Income tax expense 238,068 19 – 147,036,072 Basic weighted average shares outstanding – (52,145 ) 2009 249,575 6,160 Fixed assets, net 386,416 2,254 $ 16,382 Commitments and contingencies 3,784 (9,987 ) Net Income $ 32,921 – $ 0.07 – $ 2,539,253 25 Other income (expense) 27,521 Gain (loss) on financial instruments, net $ 3,680 $ 3,784 28,520 (2,109 ) Change in restricted cash $ 0.08 – 937,460 Less: Net income attributable to noncontrolling interests (1,124 ) Deferred income taxes 26,231 24,607 (120 ) Proceeds from notes receivable Thirteen (8,745 ) Gross profit 13,282 $ 575,027 $ 0.12 16,382 699,245 – 147,036,072 Cash and cash equivalents Accrued compensation costs Green Mountain Coffee Roasters, Inc., (NASDAQ: GMCR), a leader in specialty coffee and coffeemakers, today announced its fiscal 2011 first quarter results for the thirteen weeks ended December 25, 2010.First Quarter Fiscal 2011 Performance Highlights1* Net sales up 67% over Q1’10* GAAP EPS of $0.02; Non-GAAP EPS of $0.18* GAAP operating income increases 21% over Q1’10; Non-GAAP operating income improves 67% over the year ago quarter.* GAAP net income declined 78% over Q1’10; Non-GAAP net income up 73% over Q1’10First Quarter Fiscal 2011 Results1Net sales for the first quarter of fiscal 2011 increased 67% to $575.0 million as compared to $345.2 million for the first quarter of fiscal 2010. Under Generally Accepted Accounting Principles (GAAP), net income for the first quarter of fiscal 2011 totaled $2.2 million, or $0.02 per diluted share, representing a decrease of 78% as compared to GAAP net income of $10.1 million, or $0.07 per diluted share, for the first quarter of fiscal 2010.The Company’s non-GAAP net income for the first quarter of fiscal 2011 increased 73% to $26.1 million, from non-GAAP net income of $15.1 million in the first quarter of fiscal 2010. Fiscal first quarter 2011 non-GAAP net income excludes pre-tax items of: $11.2 million in Van Houtte transaction-related expenses including the write-off of $2.6 million of deferred financing fees associated with the former credit facility; $6.0 million in legal and accounting-related expenses associated with the SEC inquiry, the Company’s internal investigation and pending litigation; $6.2 million in amortization of identifiable intangibles related to the Company’s acquisitions; and, $5.3 million in realized and unrealized loss on foreign exchange transactions associated with hedging the risk associated with the Canadian dollar purchase price of the Van Houtte acquisition. First quarter 2010 non-GAAP net income excludes pre-tax items of: $5.1 million in transaction-related expenses for the Timothy’s and Diedrich acquisitions and $2.1 million in amortization of identifiable intangibles related to the Company’s prior acquisitions.On the same basis of presentation, GMCR’s non-GAAP earnings per diluted share increased 62% to $0.18 in the first quarter of fiscal 2011 from $0.11 in the first quarter of fiscal 2010.‘With sales growth driven by the strong sales of Keurig Single-Cup brewers and K-Cup portion packs during the holiday season, we are off to a very strong start for fiscal year 2011,’ said Lawrence J. Blanford, GMCR’s president and CEO. ‘With increasing consumer adoption, the Keurig Single-Cup Brewing System, our growing family of brands, and K-Cup portion pack products are changing the way North America prepares and enjoys its coffee and other beverages.’‘Looking forward, we are committed to continuing to represent the best of business in terms of our growth and profitability and our ability to make a positive difference in the world. With our continued growth our ability to make a positive difference continues to increase. We appreciate and thank our enthusiastic consumers, as well as our employees, business partners and other stakeholders, all of whom make our accomplishments possible.’Lavazza Development and Distribution AgreementConsistent with GMCR’s announcement on August 10, 2010 of its entering into a Stock Purchase Agreement with Luigi Lavazza S.p.A (Lavazza), on January 28, 2011, GMCR and its Keurig business unit entered into a multi-year Development and Distribution Agreement with Lavazza. Under the terms of the agreement, Keurig will be the exclusive distributor of new co-developed, Lavazza-manufactured single-serve espresso machines and capsules marketed to home consumers in the United States and Canada. While there is much work to do, GMCR and Lavazza are working towards having the new machines and/or capsules available for the 2012 holiday season.Van Houtte AcquisitionOn December 17, 2010, the Company completed its acquisition of LJVH Holdings, Inc. (’Van Houtte’) for an aggregate cash purchase price of CAD$915 million, or USD$908 million, subject to future adjustment based on Van Houtte’s working capital, net indebtedness and pre-closing taxes as of immediately prior to the acquisition’s closing. GMCR financed the Van Houtte acquisition through a combination of cash on hand and new debt financing.With a goal of bringing focus and expertise to what the Company believes is a strong Canadian opportunity, the former Van Houtte business becomes GMCR’s third business unit, GMCR Canada, or the Canadian business unit (CBU), led by former Van Houtte President and CEO, Gérard Geoffrion as its President.‘Since closing the Van Houtte acquisition, we have been working collaboratively with the Van Houtte management team to explore how best to structure and integrate the business into the GMCR family,’ said Blanford. ‘We are still in the early stages of integration assessment and planning, but we believe we are building momentum quickly.’Fiscal 2011 First Quarter Financial Review1* Approximately 91% of consolidated net sales in the first quarter were from the Keurig brewing system and its recurring K-Cup® portion pack revenue, including Keurig-related accessory sales and royalties from third party licensed roasters.o Net sales from K-Cup portion packs totaled $332.9 million in the quarter, up 89%, or $156.7 million, over the same period in 2010.o In September 2010, the Company announced a price increase on all K-Cup portion packs beginning on October 11, 2010. The Company expects the price increase will be fully implemented by the end of February 2011. In the first quarter of fiscal 2011, the price increase resulted in increased consolidated net sales dollars of approximately 4% over the prior year period.o Net sales from Keurig brewers and accessories totaled $188.0 million in the quarter, up 58%, or $68.6 million, from the prior year period.o Supporting continued growth in K-Cup demand, GMCR shipped 2.2 million Keurig brewers during the first quarter of fiscal 2011. This brewer shipment number does not account for consumer returns to retailers and compares to 1.5 million brewers shipped by GMCR during the first quarter of fiscal 2010. We estimate that GMCR brewer shipments represented approximately 89% of total Keurig Brewed brewers shipped system wide in the period.* First quarter 2011 gross margin was 25.1% of total net sales compared to 27.7% for the corresponding quarter in fiscal 2010. First quarter 2011 gross margin was adversely affected primarily by higher brewer warranty expenses, to a lesser degree, brewer sales returns in the quarter, and higher coffee costs. These adverse effects were partially offset by the price increase on K-Cup portion packs effected beginning October 11, 2010. The increase in warranty expense reduced the fiscal 2011 first quarter’s gross margin by approximately 230 basis points as compared to last year’s first quarter gross margin.* The Company increased its GAAP operating income by 21%, to $23.1 million, in the first quarter of fiscal 2011 as compared to $19.0 million in the year ago quarter.* GMCR’s first quarter fiscal 2011 non-GAAP operating income of $43.9 million increased 67% over non-GAAP operating income in the first quarter of fiscal 2010 of $26.2 million, representing 7.6% of net sales in both first quarters.* The Company’s tax rate for the fiscal first quarter was 81.9% as compared to 43.7% in the prior year quarter reflecting the tax effect of the recognition of the non-deductible acquisition-related expenses incurred during the Company’s fourth quarter of fiscal 2010 and first quarter of fiscal 2011 for the Van Houtte acquisition which closed during the Company’s first quarter of fiscal 2011. The Company’s fiscal 2011 effective tax rate excluding the non-deductible acquisition-related expenses is estimated to be approximately 38.6%.* Diluted weighted average shares outstanding increased 6.9% to 147.0 million in the fiscal first quarter 2011 from 137.5 million in the fiscal first quarter 2010 primarily due to the issuance of 8.6 million shares of common stock to Luigi Lavazza S.p.A on September 28, 2010.Balance Sheet Highlights* Cash and short-term cash investments were $62.9 million at December 25, 2010, up from $4.8 million at September 25, 2010.* Accounts receivable increased 69% year-over-year to $238.1 million at December 25, 2010, from $140.9 million at December 26, 2009, as a result of continuing strong sales during the first quarter of fiscal 2011, particularly within the retail channel where days sales outstanding is higher than other channels.* Inventories were $269.1 million at December 25, 2010 including $35.2 million of inventories acquired as part of the Van Houtte acquisition. This compares to $262.5 million at September 25, 2010. Excluding the acquired Van Houtte inventories during the last week of the first quarter of fiscal 2011, inventories of $233.9 million increased 100% year-over-year from $117.2 million at December 26, 2009, as part of the Company’s effort to ensure sufficient inventories of brewers and K-Cups to meet anticipated consumer demand for the second quarter of fiscal 2011.* Debt outstanding increased to $1.085 billion at December 25, 2010 from $354.5 million at September 25, 2010 as a result of the Company’s acquisition of Van Houtte on December 17, 2010.Business Outlook and Other Forward-Looking InformationCompany Estimates for Fiscal Year 2011The Company provided the following revised and/or first issuance of estimates for its fiscal year 2011 inclusive of its acquisition of Van Houtte.* Total consolidated net sales growth of 75% to 80%.* The Company reaffirmed its 2011 non-GAAP earnings per diluted share range of $1.19 to $1.29 per diluted share, excluding any acquisition-related transaction expenses; legal and accounting expenses related to the SEC inquiry, the Company’s internal investigation and pending litigation; amortization of identifiable intangibles related to the Company’s acquisitions; and, foreign exchange impact of hedging the risk associated with the Canadian dollar purchase price of the Van Houtte acquisition.* Capital expenditures for fiscal 2011 in the range of $245.0 million to $290.0 million, including capital expenditures as a result of the Van Houtte acquisition.Company Estimates for Second Quarter Fiscal Year 2011The Company also provided its first estimates for its second quarter of fiscal 2011 inclusive of its acquisition of Van Houtte:* Total consolidated net sales growth of 92% to 97%.* Non-GAAP earnings per share in the range of $0.38 to $0.42 per diluted share excluding any acquisition-related transaction expenses; legal and accounting expenses related to the SEC inquiry, the Company’s internal investigation and pending litigation; and, amortization of identifiable intangibles related to the Company’s acquisitions.Use of Non-GAAP Financial MeasuresIn addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), the Company provides non-GAAP operating results that exclude certain charges or credits such as acquisition-related transaction expenses, legal and accounting-related expenses associated with the SEC inquiry, the Company’s internal investigation and pending litigation, foreign exchange impact of hedging the risk associated with the Canadian dollar purchase price of the Van Houtte acquisition, and non-cash related items such as amortization of identifiable intangibles. These amounts are not in accordance with, or an alternative to, GAAP. The Company’s management believes that these measures provide investors with transparency by helping illustrate the underlying financial and business trends relating to the Company’s results of operations and financial condition and comparability between current and prior periods. Management uses the measures to establish and monitor budgets and operational goals and to evaluate the performance of the Company. Please see the ‘GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations’ tables that accompany this press release for a full reconciliation the Company’s GAAP to non-GAAP results.Conference Call and WebcastGreen Mountain Coffee Roasters, Inc. will be discussing these financial results with analysts and investors in a conference call and live webcast available via the Internet at 5:30 p.m. ET today, February 2, 2011. Management’s prepared remarks on its quarterly results will be provided via a Current Report on Form 8-K and also posted under the events link in the Investor Relations section of the Company’s website at www.GMCR.com(link is external). As a result, the conference call will include only brief remarks by management followed by a question and answer session. The call along with accompanying slides is accessible, via live webcast from the events link in the Investor Relations portion of the Company’s website at http://investor.gmcr.com/events.cfm(link is external). The Company archives the latest conference call for a period of time. A replay of the conference call also will be available by telephone at (719) 457-0820, Passcode 1857433 from 9:00 p.m. ET on February 2, 2011 through 9:00 PM ET on Sunday, February 6, 2011.GMCR routinely posts information that may be of importance to investors in the Investor Relations section of its website, including news releases and its complete financial statements, as filed with the SEC. The Company encourages investors to consult this section of its website regularly for important information and news. Additionally, by subscribing to the Company’s automatic email news release delivery, individuals can receive news directly from GMCR as it is released.About Green Mountain Coffee Roasters, Inc.As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR), is recognized for its award-winning coffees, innovative brewing technology, and socially responsible business practices. GMCR’s operations are managed through three business units. The Keurig business unit is comprised of Keurig, Incorporated, a wholly owned subsidiary of GMCR. Keurig is a pioneer and leading manufacturer of gourmet single-cup brewing systems for both at-home and away-from home use, predominantly in North America. The Specialty Coffee business unit produces, markets and sells coffee, tea, hot cocoa and other beverages in a variety of packaging formats, including K-Cup® portion packs for Keurig Single-Cup Brewers. The Specialty Coffee business unit’s family of brands includes Green Mountain Coffee®, Tully’s Coffee®, Timothy’s World Coffee®, Diedrich Coffee®, and Coffee People®, as well as its licensed brands of Bigelow®, Caribou Coffee®, Celestial Seasonings®, Emeril’s®, Gloria Jean’s®, Kahlua®, Newman’s Own® Organics and Twinings®. The Canadian business unit, which is primarily the former Van Houtte business, produces, markets and sells Van Houtte®, Brûlerie St. Denis®, Les Cafés Orient Express Coffee®, and Brûlerie Mont Royal® coffees in K-Cup® portion packs and other packaging formats and is responsible for managing the Van Houtte business as well as the grocery channel for all GMCR coffee brand sales in Canada. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in sustainably-grown coffee, and donating at least five percent of its pre-tax profits to social and environmental projects.Forward-Looking StatementsCertain statements contained herein are not based on historical fact and are ‘forward-looking statements’ within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as ‘anticipate,’ ‘believe,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘feel,’ ‘forecast,’ ‘intend,’ ‘may,’ ‘plan,’ ‘potential,’ ‘project,’ ‘should,’ ‘would,’ and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially from those stated here. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact on sales and profitability of consumer sentiment in this difficult economic environment, the Company’s success in efficiently expanding operations and capacity to meet growth, the Company’s success in efficiently and effectively integrating the Company’s acquisitions, the Company’s success in introducing and producing new product offerings, the ability of lenders to honor their commitments under the Company’s credit facility, competition and other business conditions in the coffee industry and food industry in general, fluctuations in availability and cost of high-quality green coffee, any other increases in costs including fuel, Keurig’s ability to continue to grow and build profits with its roaster partners in the At Home and Away from Home businesses, the Company experiencing product liability, product recall and higher than anticipated rates of warranty expense or sales returns associated with a product quality or safety issue, the impact of the loss of major customers for the Company or reduction in the volume of purchases by major customers, delays in the timing of adding new locations with existing customers, the Company’s level of success in continuing to attract new customers, sales mix variances, weather and special or unusual events, the impact of the inquiry initiated by the SEC and any related litigation or additional governmental investigative or enforcement proceedings, as well as other risks described more fully in the Company’s filings with the SEC. Forward-looking statements reflect management’s analysis as of the date of this release. The Company does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.GMCR-C1All comparisons to prior periods reflect restated financial results for those periods as reported in Annual Report on Form 10-K filed December 9, 2010. A complete reconciliation of the Company’s GAAP to non-GAAP results is provided with this announcement.  WATERBURY, Vt.–(BUSINESS WIRE)– 2.2.2011 GREEN MOUNTAIN COFFEE ROASTERS, INC. Unaudited Consolidated Balance Sheets (Dollars in thousands) GREEN MOUNTAIN COFFEE ROASTERS, INC. Unaudited Consolidated Cash Flows (Dollars in thousands) Current deferred income taxes, net – $ 3,819 (2 ) 15,085 $ 0.08 Capital expenditures for fixed assets 141,374,327 53,375 (15,015 ) Net Income $ 345,152 Other short-term liabilities $ – Diluted weighted average shares outstanding 1,977 Gain on foreign currency exchange transactions – 1,206 (163 ) Net change in revolving line of credit $ 11,676 2,964 – 2,143 Net income $ 1,370,574 Selling and operating expenses (5,989 ) Effect of exchange rate changes on cash and cash equivalents 23,172 (1,048 ) Income before income taxes (5,058 ) 355 (2,143 ) $ 2,229 5,058 – 137,486,331 Net income (8,668 ) Net income attributable to GMCR – $ 19,009 – $ 0.01 (354 ) GREEN MOUNTAIN COFFEE ROASTERS, INC. GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations (Dollars in thousands) 5,350 Amortization of Indentifiable Intangibles (1,239 ) – – – (907,895 ) 243 Accumulated other comprehensive income (loss) Supplemental disclosures of cash flow information: weeks ended 26,100 238,055 137 Gain (loss) on financial instruments, net 2010 Less: Net income attributable to noncontrolling interests Other current assets 2,254 $ 0.02 144,414 3,819 2,555 34 – Long-term debt 384 Interest expense 794,500 243 141,374,327 (6,160 ) 644,800 – 117 Weighted average shares outstanding 10,060 130,969,293 (4,923 ) Accrued expenses 130,969,293 Net income General and administrative expenses $ 0.03 137 Intangibles, net $ 15,085 – – 137,486,331 137,486,331 49,279 $ 0.07 Interest expense Thirteen weeks ended December 26, 2009 (8 ) Proceeds from borrowings of long-term debt $ 0.02last_img read more


Business found with broken window, man charged in Johnson City

Posted On Dec 8 2020 by

first_imgThey say items from another business that was broken into were also found with Canfield. The name of that business was not released. JOHNSON CITY (WBNG) — Authorities in Johnson City say officers made a felony arrest early Sunday morning. The Johnson City Police Department says 19-year-old Jason C. Canfield of Johnson City was charged with burglary in the 3rd degree, a class D felony. He was also charged with criminal mischief in the 4th degree, a misdemeanor, they say. The police department says he was taken to Central Arraignment and remanded to the Broome County Jail. Police say officers found a window broken into when they arrived to the scene and they noticed a person running across the hallway from inside the business.center_img Authorities say a K9 unit discovered Canfield hiding in the basement of the business with stolen items. The police department says officers responded to a burglar alarm at a business on Harry L Drive around 1 a.m. The name of the business was not released. The Broome County Sheriff’s Office and New York State Police assisted with the investigation.last_img read more


easyJet connects Pula and Berlin Tegel

Posted On Nov 18 2020 by

first_imgeasyJet, Europe’s leading airline, announced today the launch of a new route from Pula to Berlin Tegel.So now passengers from Croatia, as well as tourists, have the opportunity to use easyJet to connect with Berlin’s new Tegel Airport.In the summer season, Pula and Berlin will be connected three times a week, on Mondays, Fridays and Saturdays, starting on August 03, 2018. easyJet has announced 23 new routes from Berlin Tegel Airport and sold more than 3,8 million seats for the summer season since March 25 to October 27, 2018. easyJet offers a leading network of routes from Berlin with a total of 95 destinations from Tegel and Schönefeld airports, providing great value to business and leisure travelers.“I am pleased to announce today a new route from Pula as part of our expansion at Berlin Tegel Airport. easyJet grows rapidly at Pula Airport since the introduction of our first flight in June 2015, Berlin Tegel is easyJet’s ninth destination from Pula Airport, with existing flights to Europe’s major airports including London Gatwick, Milan Malpensa and Paris Charles de Gaulle . The new Tegel Airport service will complement our existing three-weekly flight from Pula to Berlin Schönefeld and strengthen the connection between Pula and the German capital. ” said Thomas Haagensen, CEO of easyJet EuropeBy the way, easyJet flies on the most popular European routes than any other airline. easyJet flies with a fleet of over 280 aircraft on more than 890 routes to over 140 airports in 31 countries, and perhaps the most important fact is that more than 300 million Europeans live within an hour’s drive of easyJet Airport. Traffic connectivity is the first prerequisite for tourism development, and now we “only” have to sell an authentic story as a motive for coming.last_img read more


Philippine capital to undergo curfew, mall closures as coronavirus deaths rise to six

Posted On Oct 19 2020 by

first_imgTopics : Mayors of Metro Manila’s 16 cities announced nighttime curfews on Saturday and urged shopping malls to close for one month, in a bid to contain the spread of the new coronavirus, as the Philippines reported its sixth death.President Rodrigo Duterte has raised the country’s health emergency status to the highest level and issued quarantine measures in the capital, home to 12 million people.All the measures in the Philippine capital, if implemented fully, would be among the strictest in place in Asia, and come as European countries and the United States battle to contain a pandemic that has killed more than 5,000 worldwide. Mayors will issue local ordinances for the temporary closure of malls and establishments, exempting shops offering essential services like groceries, banks and pharmacies. The capital is home to sprawling shopping malls, some of which are among the largest in the world.The Philippines’ health department on Saturday confirmed one new fatality from the coronavirus outbreak, bringing the total number of deaths to six, a day after the country raised its health emergency status to the highest level.The patient, confined at a government hospital in southern Philippines, died late Friday because of complications from severe pneumonia and acute kidney injury, the health ministry said. The Southeast Asian nation had 64 coronavirus cases as of Friday. center_img “To limit the spread of the virus, we need to limit the movement of people. We are slowing down the movement of people in Metro Manila,” Jose Arturo Garcia, general manager of the Metropolitan Manila Development Authority, told a news conference.Some of the capital’s residents flocked to bus stations and airports ahead of the travel ban that will start Sunday.The president on Thursday issued land and air travel restrictions to and from the capital that will take effect on March 15, and extended school closures to April 12.The nighttime curfew will take effect on March 15 to April 14, but some employees will be exempt, Garcia said, adding that violators will not be reprimanded and not arrested.last_img read more