Quantcast
Channel: Virginia Headlines on One News Page [United States]
Viewing all 42371 articles
Browse latest View live

Lawsuit says man spent 18 days in prisoner transport van

0
0
McLEAN, Va. (AP) — Edward Kovari’s 18-day ordeal began Sept. 12, 2016, when some guys in a van showed up to take him from a jail in Virginia to Texas, where he was wanted on charges that he had stolen a car. But the trip from Winchester, Virginia, to Houston took more than two weeks […] Reported by Seattle Times 8 hours ago.

Governor announces new land conservation strategy

0
0
RICHMOND, Va. (AP) — The state of Virginia is developing a new data-driven way to prioritize what parcels of land should be a top priority for conservation. Gov. Ralph Northam announced the new strategy Tuesday. Matt Strickler is the state’s secretary of natural resources. He says the new analysis method will weigh factors like biodiversity, […] Reported by Seattle Times 7 hours ago.

ATOS : First quarter of 2018

0
0
*Revenue at € 2,945 million*

*+3.7% at constant exchange rates*

*+2.0% organic growth*

* *

*Book to bill ratio at 100%*

* *

*Global partnership with Google Cloud*

*in secure Hybrid Cloud and Artificial Intelligence*

* *

*All 2018 objectives confirmed*

* *

*Paris, April **25, 2018* - Atos, a global leader in digital transformation, today announces the revenue of its first quarter of 2018.

*Q1 2018 r**evenue* was *€ 2,945 million*, *+3.7% at constant exchange rates* and up *+2.0% organically*. The Group strategy focused on Digital Transformation Factory drove growth acceleration in Business & Platform Solutions with an organic growth at +4.8% and in Big Data & Cybersecurity at +14.4%, while Worldline pursued its healthy trend at +5.8%. The Group positioning in Infrastructure & Data Management enabled it to sustain the trend of the Division while this quarter an unexpected management execution issue impacted North America. The Division posted an organic revenue evolution at -1.6%. The Group pursued its strong commercial dynamism with *order entry* at *€ 2,941 million* leading to a *book to bill* ratio of *100%*.

*Thierry Breton*, Chairman and CEO said: "During the first quarter, the Group reached a strong revenue performance despite an unexpected management execution issue in the US where I am currently reinforcing and reshaping the top management team. The Group continues to experience a strong commercial momentum thanks to its large portfolio of innovative offerings, which are fully aligned with the demand of its clients for transformational and automated digital services. As such we confirm all our objectives for 2018. 

We continue to significantly invest in technology either on our own or through partnerships. In this context, I am extremely pleased to announce the first strategic collaboration with Google that I see as another validation and reinforcement of our worldwide leadership in Orchestrated Hybrid Cloud. By leveraging Atos and Google Cloud strengths, we will create global secure solutions including Google Cloud as a preferred public cloud platform in our Orchestrated Hybrid Cloud solution. In addition, running specific Google Machine Learning algorithms under our control in our Data Centers will enable faster and smoother adoption of AI in the most innovative and trusted environment for our customers in specific sectors such as healthcare, connected cars, retail, etc. As such, Atos becomes the "trusted last mile" of the digital information chain, fully addressing customer concerns like secure access to data, critical data localization, and compliance with regulation such as GDPR. I am confident that through the Atos-Google joint go-to-market to the benefit of our customers, this significant partnership will strengthen the growth and profitability of our infrastructure management activity." 

*Q1 2018 revenue performance by Division* 

En millions d'euros *T1 2018* *T1 2017** *% organique*
Infrastructure & Data Management 1,563 1,589 -1.6%
Business & Platform Solutions 799 762 +4.8%
Big Data & Cybersécurity 200 175 +14.4%
Worldline 384 363 +5.8%
*TOTAL GROUPE* *2,945 * *2,888 * *+2.0%*
* A périmètre et taux de change constants après prise en compte des impacts d'IFRS 15

  

In *Infrastructure & Data Management (IDM)*, revenue was *€ 1,563 million*, *-1.6%* organically. In Q1, the Division was impacted by the US. Excluding this impact, the revenue trend of the Division (0% to 1%) was sustained, led by the strong performance in Orchestrated Hybrid Cloud with the ramp-up of large new contracts won last year, especially in France and in the UK, and additional volumes and businesses in Benelux & The Nordics and in Asia Pacific.

In *Business & Platform Solutions (B&PS)* revenue was *€ 799 million*, up *+4.8%* organically. Most geographies recorded a positive growth. Growth acceleration was supported by numerous projects in Digital Transformation Factory in particular in Codex in France and in Germany. In Public & Health, the growth was driven by North America in the Healthcare sector, and by new projects delivered in Germany. In Manufacturing, Retail & Transportation, the Division grew thanks to increasing activity in Germany in Industry 4.0, and in Financial Services with new projects in particular for large French and Dutch banks. 

The business in *Big Data & Cybersecurity (BDS)* remained strong, up *+14.4%* organically at *€ 200 million* in the first quarter of 2018. The growth was primarily led by Big Data thanks to HPC activities with large customers in Manufacturing and Energy sectors in France and with the Jülich Research Center in Germany. Cybersecurity services also contributed to this growth, especially in France and in North America, as well as in Central & Eastern Europe with additional businesses in Mission Critical Systems.

From a contributive perspective to Atos, *Worldline* revenue was *€ 384 million*, improving by *+5.8%* organically.

Merchant Services grew by +6.3% led primarily by Commercial Acquiring in Continental Europe and the increase in the number of payment terminals operated in India. Growth in Financial Processing was up +5.6% driven by increasing volumes and projects in Acquiring Processing. Mobility & e-Transactional Services posted a +5.1% revenue growth thanks to Trusted Digitization services with French government agencies as well as healthcare transactional and tax collection services in Latin America.

A detailed presentation of Worldline's performance during the first quarter of 2018 revenue is available at worldline.com, in the Investors section. 

*Q1 2018 revenue performance by Business Unit* 

En millions d'euros *T1 2018* *T1 2017** *% organique*
Allemagne 507 507 +0.0%
Amérique du Nord 472 487 -2.9%
France 419 399 +5.1%
Royaume-Uni & Irlande 412 407 +1.0%
Benelux & Pays Nordiques 261 260 +0.5%
Autres Entités Opérationnelles 491 466 +5.4%
Worldline 384 363 +5.8%
*TOTAL GROUPE* *2,945* *2,888* *+2.0%*
* A périmètre et taux de change constants après prise en compte des impacts d'IFRS 15

 

During the first quarter of 2018, revenue grew in most Business Units:

· United Kingdom & Ireland thanks to a very strong management execution continued to record a high performance in a complex environment, notably through the delivery of digital transformation projects in B&PS and a strong momentum in IDM offsetting the re-insourcing of parts of the BBC contract;
· France returned to a strong growth with BDS and IDM significantly contributing thanks to several contract ramp-ups;
· in Benelux & The Nordics, revenue slightly increased led by additional businesses in IDM in Public & Health;
· in Other Business Units, all Divisions contributed to the strong growth. B&PS grew with several sports event projects and new contracts in Central & Eastern Europe. BDS revenue increased with additional activities in cybersecurity and HPC. IDM recorded higher volumes in Financial Services in Asia Pacific and additional businesses especially in Italy, India, and Africa;
· in Germany, revenue was stable thanks to a higher level of projects in Digital Transformation Factory in B&PS and HPC activities in BDS compensating for the base effect of two large IDM Transition & Transformation phases completed last year;
· while North America was impacted as already mentioned, a high level of order entry is expected in Q2.
· Worldline recorded a strong performance in all its businesses.

*Commercial activity* 

During the first quarter of 2018, the Group *order entry* reached *€ 2,941 million* representing a *book to bill ratio* of *100%*.

In Q1, new large IDM contracts were signed with new clients, such as in Digital Workplace with a large professional services firm in North America and Scottish Water in the United Kingdom. In addition, the Division renewed large contracts with Hallmark in North America, a large financial institution in Asia, a transportation company in the UK, as well as two groups in the energy and technology sectors in France. New B&PS contracts were signed in Germany in automotive and telecom sectors, and in France in transportation. Big Data & Cybersecurity signed a large contract in cybersecurity with Virginia Information Technologies Agency.

In line with the dynamic commercial activity, the *full backlog* increased by *+1.7%* year-on-year to *€ 22.1 billion* at the end of March 2018, representing *1.9 year of revenue*. The *full qualified pipeline* reached *€ 7.6 billion*, a strong increase by *+9.7%* year-on-year, representing *7.7 months of revenue*. 

*Human resources* 

The *total headcount* of the Group was *97,297* at the end of March 2018, stable compared to 97,267 at the end of December 2017. Excluding scope effects, the decrease was -0.8% over the quarter thanks to the continuous progress in automation and robotization programs.

*Global partnership with Google Cloud to deliver secure Hybrid Cloud, Machine Learning and collaboration solutions to the enterprise* 

Atos has entered into a global agreement with Google Cloud to bring the full capability of Machine Learning and AI to the digital transformation needs of enterprise customers. With its secure Hybrid Cloud solution, Atos data management platform will support clients in meeting their individual requirements for data localization, as well as access and control requirements that European and global regulations demand. 

This agreement will see the creation of global secure solutions in areas such as:

· *Secure Hybrid Cloud:* Atos will develop and expand its Orchestrated Hybrid Cloud solution with Google Cloud as a preferred platform for the public cloud component. The expanded Atos solution will drive hybrid cloud adoption in global enterprises, delivering enhanced security to customers with an advanced and comprehensive set of security features, fully compliant with European (including GDPR) and global regulations as well as customer demand on critical data localization.
· *Data Analytics & Machine Learning:* Atos will reinforce its Machine Learning (ML) global practice by notably including Google Cloud's ML algorithms and APIs to create industry specific solutions and to drive business transformation in global enterprises across multiple verticals such as healthcare, connected car, retail, etc.
· *Digital Workplace: *Atos will develop a G-Suite practice to further enrich its market leading Digital Workplace offering. With this practice, Atos will also leverage Google Cloud's ML and data intelligence to increase the digital workplace automation and enhance user experience and productivity. 

In this context, Atos will establish three new ML/AI R&D centers and customers innovation labs in France, the UK, and the US. 

For more information, please refer to the joint press release with Google 

*2018 objectives* 

The Group confirms all its objectives for 2018:

· *Revenue organic growth*: +2% to +3%.
· *Operating margin*: 10.5% to 11% of revenue.
· *Free cash flow*: circa 60% of operating margin.

*Appendix*

*Revenue and operating margin at constant scope and exchange rates reconciliation*

In € million *Q1 2018* *Q1 2017
Restated for IFRS 15* *% change* *Q1 2017
Reported*
Statutory revenue 2,945 2,955 -0.3% 3,111
Exchange rates effect   -116   -122
         
Revenue at constant exchange rates 2,945 2,839 +3.7% 2,989
         
Scope effect   52   52
Exchange rates effect on acquired/disposed perimeters   -3   -3
*Revenue at constant scope and exchange rates* *2,945 * *2,888 * *+2.0%* *3,038 *
* * * * * * * * * *IFRS 15 adjustment represented a restatement of Q1 2017 accounts of €-156 million for revenue. 

Scope effects amounted to €+52 million for revenue. This was mostly related to the acquisitions of CVC, Pursuit Healthcare Advisors, Conduent's Healthcare Provider Consulting, Conduent's Breakaway Group, First Data Baltics, Digital River, MRL Posnet, Imakumo, zData on one side, and to the disposal of Cheque Service on the other side. 

Exchange rates effect mainly came from the American dollar and to a lesser extent from the British pound and South American currencies depreciating versus Euro.

*Q1 2018 revenue performance by Market* 

En millions d'euros *T1 2018* *T1 2017** *% organique*
Industrie, Distribution & Transports 1,061 1,080 -1.8%
Public & Santé 838 790 +6.1%
Télécoms, Médias & Services aux collectivités 461 479 -3.7%
Services Financiers 585 539 +8.6%
*TOTAL GROUPE* *2,945 * *2,888 * *+2.0%*
* A périmètre et taux de change constants après prise en compte des impacts d'IFRS 15

 

*Conference call* 

Today, Wednesday, April 25, 2018, Thierry Breton and his management team will comment on Atos' first quarter of 2018 revenue and answer questions from the financial community during a *conference call* in English starting at 08:00 am (CET - Paris).

on atos.net, in the Investors section

· by smartphones or tablets through the scan of:
 
· by telephone with the dial-in, 5-10 minutes prior the starting time:

· France             +33 1 76 77 22 74      code 1335931
· UK                   +44 330 336 9105      code 1335931
· US                   +1 929 477 0353        code 1335931

 

After the conference, a replay of the webcast will be available on atos.net, in the Investors section. 

*Forthcoming events* 

May 24, 2018              Annual General Meeting

July 25, 2018               First half 2018 results

October 23, 2018        Third quarter 2018 revenue

*Contacts* 

*Media*:                                    Terence Zakka             +33 1 73 26 40 76

                                                                                  terence.zakka@atos.net

Sylvie Raybaud            +33 6 95 91 96 71

                                                                                  sylvie.raybaud@atos.net

*Investor Relations*:              Gilles Arditti                 +33 1 73 26 00 66

                                                                                   gilles.arditti@atos.net

Benoit d'Amécourt      +33 1 73 26 02 27

                                                                                  benoit.damecourt@atos.net

Aurélie Le Pollès          +33 1 73 26 42 35

aurelie.lepolles@atos.net

*About Atos* 

Atos is a global leader in digital transformation with approximately 100,000 employees in 73 countries and annual revenue of around € 12 billion. European number one in Big Data, Cybersecurity, High Performance Computing and Digital Workplace, the Group provides Cloud services, Infrastructure & Data Management, Business & Platform solutions, as well as transactional services through Worldline, the European leader in the payment industry. With its cutting-edge technologies, digital expertise and industry knowledge, Atos supports the digital transformation of its clients across various business sectors: Defense, Financial Services, Health, Manufacturing, Media, Energy & Utilities, Public sector, Retail, Telecommunications and Transportation. The Group is the Worldwide Information Technology Partner for the Olympic & Paralympic Games and operates under the brands Atos, Atos Consulting, Atos Worldgrid, Bull, Canopy, Unify and Worldline. Atos SE (Societas Europaea) is listed on the CAC40 Paris stock index. www.atos.net - Follow us on @Atos 

*Disclaimers* 

This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group's expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking statements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as market conditions or competitors behaviors. Any forward-looking statements made in this document are statements about Atos' beliefs and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Atos' plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historical information. Actual events or results may differ from those described in this document due to a number of risks and uncertainties that are described within the 2017 Registration Document filed with the Autorité des Marchés Financiers (AMF) on February 26, 2018 under the registration number: D.18-0074. Atos does not undertake, and specifically disclaims, any obligation or responsibility to update or amend any of the information above except as otherwise required by law. This document does not contain or constitute an offer of Atos' shares for sale or an invitation or inducement to invest in Atos' shares in France, the United States of America or any other jurisdiction. 

Revenue organic growth is presented at constant scope and exchange rates and restated for the impact of IFRS 15. 

Business Units include *Germany*,* North America* (USA, Canada, and Mexico), *France*, *United Kingdom & Ireland*, *Worldline*, *Benelux & The Nordics* (Belgium, Denmark, Estonia, Finland, Lithuania, Luxembourg, The Netherlands, Poland, Russia, and Sweden), and *Other Business Units* including Central & Eastern Europe (Austria, Bulgaria, Croatia, Czech Republic, Greece, Hungary, Israel, Italy, Romania, Serbia, Slovakia and Switzerland), Iberia (Spain and Portugal), Asia-Pacific (Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, Taiwan, and Thailand), South America (Argentina, Brazil, Colombia, and Uruguay), Middle East & Africa (Algeria, Benin, Burkina Faso, Egypt, Gabon, Ivory Coast, Kingdom of Saudi Arabia, Lebanon, Madagascar, Mali, Mauritius, Morocco, Qatar, Senegal, South Africa, Tunisia, Turkey and UAE), Major Events, Global Cloud hub, and Global Delivery Centers.

*Attachment*

· Click here for PDF.pdf Reported by GlobeNewswire 7 hours ago.

10. Oakland Raiders: Tremaine Edmunds, LB, Virginia Tech

0
0
Lev says: After Dom went rogue at No. 9, the Raiders were in a great spot at 10. Two elite defenders were sitting there in Edmunds and Florida State safety Derwin James. Edmunds — an absolute athletic freak who’s just… Reported by Harrison Daily 5 hours ago.

Discount mammogram clinics offered in West Virginia in May

0
0
MARTINSBURG, W.Va. (AP) — The West Virginia University Cancer Institute is offering discount mammogram clinics next month. The mammography screening clinics will be held each Saturday in May at the Women’s Imaging Center in Martinsburg. The screenings will be held each Saturday except May 26 at the Women’s Imaging Center in Ranson. The discount program […] Reported by Seattle Times 5 hours ago.

Jeanneau Inboard Powerboats Now Represented by Atlantic Cruising Yachts

0
0
The Jeanneau range of inboard powerboats will be represented by Atlantic Cruising Yachts in the mid-Atlantic region, beginning in April of 2018.

ANNAPOLIS, Md. (PRWEB) April 25, 2018

Atlantic Cruising Yachts, which is headquartered in Annapolis, Maryland, with offices in St. Petersburg and Ft. Lauderdale, Florida will now work with customers in Maryland, Pennsylvania, Delaware, and Northern Virginia for the Jeanneau inboard line.

Already among the top Jeanneau dealers in North America, this positions Atlantic Cruising Yachts to expand their reach throughout the mid-Atlantic.
Jeanneau’s innovative range of high-performance inboard powerboats, which includes the Leader line, the NC line, and the Velasco line, were designed in collaboration with renowned designers and architects such as Garroni Design, and Mickaël Peters Yacht Design.

“We are thrilled to bring this innovative range of powerboats to our customers throughout the Chesapeake Bay and mid-Atlantic,” said Atlantic Cruising Yachts president, Chris Bent. “The style and performance of these lines will elevate powerboating in the region.”

The luxurious and sporty Leader line features express models with high-performance hulls that combine comfortable exteriors with progressive interior layouts. The NC line’s concept is unique with life on one level blending the inside and outside areas in a seamless space. The flybridge line, Velasco, is the ultimate inboard power cruising line, with innovative use of space and premier comfort onboard.

“As a strong leader in the sales and service of Jeanneau Sailboats, I am thrilled to have Atlantic Cruising Yachts as our new dealer for Jeanneau Inboard Powerboats in the Mid-Atlantic”, said Wade Clevenger, Regional Sales Manager, Jeanneau America. “Atlantic Cruising Yachts has a highly-skilled team and they are focused on attracting new customers to the Jeanneau brand.”

“We are very excited to expand our relationship with one of our top performing Jeanneau dealers”, said Nick Harvey, President, Jeanneau America. “Atlantic Cruising Yachts is highly qualified to offer our inboard powerboats and deliver an exceptional customer experience.”

Atlantic Cruising Yachts has received recognition for its innovative ownership programs, like the signature Business Yacht Ownership® program, which can help owners offset their costs with tax advantages and income. The company’s charter management network, Waypoints™, allows owners to charter their yacht from a range of independently owned East Coast and Caribbean locations, with charter and management programs structured to offset the costs with professional management and maintenance.

Atlantic Cruising Yachts has offices in Annapolis, Maryland, and in St. Petersburg and Fort Lauderdale, Florida. The company represents Fountaine Pajot and Jeanneau Yachts. Atlantic Cruising Yachts is considered an innovator in yacht ownership programs, with its signature Business Yacht Ownership® program, which hundreds of yacht owners have used to offset their purchase with tax advantages and income. Reported by PRWeb 6 hours ago.

Northern Virginia Businesses Compete to Raise Funds to Benefit Children Fighting Cancer

0
0
5K Race/Walk to take place Sunday, May 6th at 8:15am

RESTON, Va. (PRWEB) April 25, 2018

Northern Virginia businesses normally compete for clients and customers, but at the Hopecam 5k, they’ll compete to see which can run the fastest, raise the most money or register the most participants to help children with cancer. This year marks the 18th anniversary of the race and the 4th year that Hopecam has included a team competition to create awareness among the community.

Companies such as Vibrent Health, Accenture, Amazon Web Services (AWS), Apptium Technologies, Baker Tilly, Blue Node Solutions, Booz Allen Hamilton, Cooley LLP, Creative Systems and Consulting, The McLean Group, and Revature are all participating in the competition this year to help promote Hopecam and their goal of helping to connect more children this year.

Development Director of Hopecam Lauren Priestas explains, “15,780 children will be diagnosed with cancer this year. Nearly every one of these children will have to be isolated from their friends and unable to attend school as a result of their treatment. Today, thanks to technology, this isolation can be overcome by giving the child a tablet or laptop computer and working with schools to establish a connection with the hospitalized and homebound child. For children who are being treated far from home, Hopecam provides a way to stay in touch with loved ones and support networks. Hopecam is the only charitable organization in the United States that provides this full-spectrum of service to ensure technology is used to bring sick children together with their classrooms and friends.”

Vibrent Health, a precision health technology company located in Fairfax, Virginia, is the title sponsor for this year’s Hopecam 5K. Vibrent Health developed the technology platform for the National Institutes of Health (NIH) AllofUs Research Program (AoURP), which officially expanded its foot print with a nationwide launch on May 6.

“As a digital health solutions company, we are true believers in the power of technology to enhance human connections and improve the quality of life, and we are grateful for the opportunity to be a part of Hopecam and to help children with cancer stay connected with family, friends and classmates while they are on their journey to recovery,” said Praduman Jain, CEO of Vibrent Health sponsors of the Hopecam 5K.

Other sponsors of the race include Amazon Web Services (AWS), Apptium Technologies, Chick-Fil-A Village Commons, Creative Systems and Consulting. Cooley LLP, Dulles Greenway, Earth Networks, The McLean Group, Milestone Communications, Miller, Miller & Canby, ProTech Dental, Stream Valley Veterinary Hospital, and Wax & Oils. Wheat's Landscape once again this year is providing water for the runners, and the Dulles Wegmans and Giant Food have generously donated the snacks and sports drinks.

Entertainment at the race will include a DJ Rock Steady, moonbounce fun, appearances from 501st Star Wars characters, face painting by Pixie Dust Creations, Golly Waffles food truck, balloon twisters and much more.

Hopecam has connected over 1,500 children in 47 states and abroad. It costs approximately $1,000 to connect each child. About 50% of the children live in homes unable to afford Internet, which Hopecam provides at a cost of $500 per year. 70% of the children attend schools eligible for Title 1 financing.

The Hopecam 5K is a USATF certified race-fast and flat for those wanting to set a personal best record. This is also the perfect race for families featuring an easy course for runners and walkers of all ages and fitness levels. This fun, family event is also stroller friendly.

The 18th Annual Hopecam 5k Race/Walk will take place on Sunday, May 6th at 1890 Preston White Drive in Reston, VA. The race will start at 8:15am with registration starting at 7:30am. Participants can register online at http://www.hopecam.org

If you would like more information about this topic, please contact Lauren Priestas at 571-325-2000 or email at info@hopecam.org. Reported by PRWeb 6 hours ago.

Venture Construction Group CEO Stephen Shanton Joins Young Entrepreneur Council

0
0
Award-winning serial entrepreneur accepted into invite-only organization

BURKE, Va. (PRWEB) April 25, 2018

Venture Construction Group (VCG) CEO Stephen Shanton has been accepted into the Young Entrepreneur Council (YEC). The YEC forum provides a platform for select member entrepreneurs to exchange ideas and resources to make high-value connections. YEC is a highly selective, invite-only organization for entrepreneurs, by entrepreneurs. The YEC is known as “the most elite entrepreneurship organization in America,” accepting less than 10 percent of the over 14,000 applications they have received to date. The YEC has been recognized for their expertise by major media outlets including Entrepreneur, Inc., Forbes, Fortune, Fast Company, The Atlantic, Time, Tech Crunch, The Wall Street Journal, Wired, Mashable, The Huffington Post, and many more.

“Everything we do at the YEC is meant to fulfill a social need and promote free enterprise at the same time, while also curating meaningful connections among our generation’s most successful entrepreneurs,” says Scott Gerber, founder of the Young Entrepreneur Council (YEC).

With over 20 years of expertise, Shanton is the CEO and president of Venture Construction Group (VCG), Venture Construction Group of Florida, (VCGFL), and VCG International (VCGI). Venture companies carry the industry leading certifications and accreditations.

Founded in 1998, VCG services commercial and residential properties throughout the East Coast, Greater Mid-Atlantic Region, Gulf Coast, and Midwest. With a commitment to education and dedication to innovation, VCG remains ahead of the curve in adopting new technologies and best practices in construction including drone technology, property management app services and 3rd party consulting. Shanton’s company projects and initiatives been featured in numerous local and national press including: Qualified Remodeler, Roofing Contractor, Professional Roofing, Coatings Pro, Builder, Commercial Construction and Renovation, Roofers Coffeeshop, Construction Business Owner, Roofing- The Industry’s Voice, Builder, InsurerNews.com, The Times Herald, Middleburg Online. A major advocate for philanthropy, giving back is an integral part of the company’s mission. VCG sponsors many community events, nonprofit organizations, foundations and initiatives to improve the lives of others throughout the U.S.

“I am honored to be a part of the YEC. Being connected to other successful entrepreneurs creates a positive impact amongst all of us,” says Stephen Shanton, founder and CEO of Venture Construction Group, Venture Construction Group of Florida, and VCG International.

About Venture Construction Group
Venture Construction Group (VCG) is a leader in residential and commercial construction, roofing, renovations, restoration, storm damage repairs, and 24/7 emergency services. We are a full-service general contractor and assist property owners throughout Connecticut, Delaware, Illinois, Maryland, Massachusetts, New Jersey, New York, Oklahoma, Pennsylvania, Rhode Island, Texas, Virginia, Washington, D.C. Founded in 1998, VCG services commercial and residential properties throughout the East Coast, Greater Mid-Atlantic Region, Gulf Coast, and Midwest. Operational excellence is our mission in every project we undertake, and we pride ourselves on providing exceptional customer service. Venture Construction Group is an exclusive certified National Storm Damage Center Preferred Contractor, Platinum Preferred Certified Contractor with the National Insurance Restoration Council, WindStorm Insurance Network WIND Certified Umpire®, WIND Certified Appraiser®, WIND Certified Fellow®, Certified Member of the United Association of Storm Restoration Contractors, Certified Member of Exterior Insulation and Finish Systems (EIFS) Industry Members Association (EIMA), Certified Member of National Association of Home Builders (NAHB), Owens Corning Platinum Preferred Contractor, Mule-Hide Legacy Contractor, Certified CertainTeed Contractor and Duro-Last Certified Contractor. VCG credentials have been vetted and screened through independent third party Global Risk Management Solutions. With offices nationwide and a solid reputation throughout the country, we are able to respond to your needs with quality, ease, and top-notch service. For more information call 866-459-8348 or visit us online at http://www.VentureConstructionGroup.com

About the Young Entrepreneur Council (YEC)
The Young Entrepreneur Council (YEC) is an invite only organization created by entrepreneurs, for entrepreneurs. The YEC provides a forum for members to exchange ideas and resources, make high-value connections and provide mentorship. The YEC has led various public campaigns to improve access to and policy around entrepreneurship, from the FixYoungAmerica grassroots campaign to the Youth Entrepreneurship Act and, more recently, the launch of BusinessCollective, a virtual mentorship program (in partnership with Citi) that helps millions of aspiring and current entrepreneurs launch and grow new businesses. YEC also launched the MentorshipNetwork so members can give back by working with top organizations, like Junior Achievement, that support the next generation of business leaders. Paying it forward while supporting each other’s growth is integral to YEC’s mission to empower entrepreneurs, who, across the board, believe that doing well and doing good are not mutually exclusive — nor should they be. Learn more at http://www.yec.co.

Media Inquiries:

Erica DiManna
Elev8 Consulting Group
Ph: 386.243.5388
Web: http://www.elev8cg.com

### Reported by PRWeb 6 hours ago.

Woman convicted in screwdriver stabbing death of roommate

0
0
A 38-year-old Virginia Beach, Va., woman was convicted of voluntary manslaughter Tuesday in the screwdriver death of her 65-year-old male roommate. Reported by FOXNews.com 5 hours ago.

BridgeStreet's Bold Technology Platform Attracts Another Industry Leader

0
0
Claire Barrie joins BridgeStreet as new VP Sales for EMEA RESTON, Virginia, April 25, 2018 /PRNewswire/ -- The world of Extended-Stay Accommodations is forever changing. The industry is forced to ... Reported by FinanzNachrichten.de 5 hours ago.

Penn Virginia: Stellar Production Growth To Trigger Stock Upside

0
0
Reported by SeekingAlpha 4 hours ago.

Paya Selects Boomtown Relay as Intelligent Support Platform to Elevate Customer Experience

0
0
Relay is a customer service platform that helps teams efficiently support technology across distributed locations.

(PRWEB) April 25, 2018

Boomtown, an innovative provider of technology support software and services, today announced that Virginia-based Paya (pie-ya), a leading provider of integrated payment processing and business solutions, has selected Boomtown’s Relay platform to elevate Paya’s customer support experience.

With a 25 year history, Paya delivers a solutions platform that reduces complexity and increases business intelligence, ensuring that companies can adapt to changes in technology and the marketplace. As Paya rapidly expands its customer-base, it needed a platform that could keep up with its accelerated growth and align with the company’s focus on fintech innovation. Boomtown’s Relay platform was selected by Paya for core support software to deliver simple, predictive and personalized services at scale.

Boomtown Relay is an intelligent platform for technology support and customer service that creates more efficient agents and happier customers. Relay combines a universal technology dictionary with curated knowledge and insights from millions of support interactions to create an intelligent support system. Relay deploys chatbots to distill and deliver this knowledge in concise and digestible conversational responses to customer service agents or directly to merchant customers across the communication channels they use every day.

Team members across all Paya offices share a unified dashboard to streamline collaboration. With Relay, Paya agents can easily chat and share tickets with sales partners and third-party vendors to streamline cross-organization collaboration. Relay increases context and reduces the multiple handoffs that often plague legacy support systems. Managers get access to actionable insights that identify bottlenecks, flag areas for improvement, and drive continuous innovation and customer success improvement through the Paya ecosystem.

“We work with very established, recognizable brands who expect the best in service. We’re excited to partner with Boomtown to deliver a truly differentiated experience to our partners and merchants while allowing our support teams to be more accessible and efficient,” said Greg Cohen, President of Paya. “Relay aligns with our mission to deliver new technologies to the market and offer innovative, integrated solutions that will help our customers simplify business complexity and concentrate on growing their business.”

Alfred 'Chip' Kahn IV, CEO of Boomtown, adds, “Customer experience is a key differentiator for growing merchant services companies. As a clear leader in payments and service innovation, Paya understands that service delivery has a significant role in establishing and growing brand reputation and business growth. By investing in Boomtown’s intelligent Relay platform, Paya will create exceptional customer experiences, drive more efficient and effective support teams, and cultivate happier customers. We are proud to be a part of Paya’s growing national expansion.”

About Paya

Paya, Inc., provides payment technologies and solutions to businesses of all sizes. Paya’s highly adaptive platform enables businesses to get paid, make payments, and manage their money—simply and securely. With Paya’s solutions, businesses can operate any way and anywhere their customers exist—on site, online, or on the go. Paya’s comprehensive suite of solutions and services delivers easy-to-use payments technology for every stage of a business’s growth. For more than twenty years, Paya has combined its substantial data capabilities with real-time reporting, providing unmatched visibility to cash flow and transaction data for its customers. Paya’s seamless connection to business applications offers valuable business insights that enable customers to run their businesses smarter, so they can run them better. Paya is a GTCR private equity company headquartered in Reston, VA, with offices in Atlanta, GA, and Fort Walton Beach, FL. For more information on Paya, visit http://www.paya.com or follow us on Twitter @PayaHQ, LinkedIn at Paya.com, and Facebook at PayaHQ.

About Boomtown

Boomtown’s mission is to provide a better support experience for businesses. Through our Relay platform, technology solution providers can communicate with their customers in engaging ways, use automation to drive efficiency, and collaborate across organizations to answer questions and resolve issues fast. Learn more about Boomtown Relay at http://www.thinkrelay.com. Reported by PRWeb 4 hours ago.

Don Blankenship, West Virginia Candidate, Lives Near Las Vegas and Mulled Chinese Citizenship

0
0
The former coal mining executive, a strong supporter of President Trump who is running as an “American competitionist,” has refused to disclose his personal finances as required by law. Reported by NYTimes.com 3 hours ago.

'Tea Party Liberal' Promises To Bring A Blue Wave To West Virginia

0
0
Richard Ojeda is a progressive Democrat from coal country who campaigns in combat boots. Supporters say he's the kind of Democrat who might be able to win in a solid Trump state in 2018. Reported by NPR 3 hours ago.

Yamaha Ensembles Win 7 Medals at 2018 Winter Guard International Championships

0
0
At the 2018 Winter Guard International Championships, 7 of the 18 awards were earned by groups exclusively using Yamaha marching instruments

DAYTON, Ohio (PRWEB) April 25, 2018

Yamaha-equipped performers made a strong showing at the 2018 Winter Guard International (WGI) Percussion and Winds World Championships, with 7 of the 18 awards going to groups exclusively using Yamaha marching instruments. The Championships were held at a number of venues located in and around Dayton, Ohio including University of Dayton Arena, Wright State University’s Nutter Center and BB&T Arena at Northern Kentucky University. Since 1998, ensembles using Yamaha equipment have won more than 120 medals in WGI competition.

In a season that runs from January through the April 19-22 World Championships, WGI “Sport of the Arts” events combine theatrics, athletics and musicianship in a unique way, serving as a creative and educational opportunity for thousands of young musicians. The 2018 season featured over 215 ensembles from across the country, and a few around the world.

For decades, WGI’s musical competition focused exclusively on percussion groups; in 2015, the organization added a separate Winds competition, which has been growing in popularity ever since. Ensembles compete in separate Scholastic and Independent divisions, each boasting a range of classes.

“Whether you’re talking about the elite World Class groups or the impressive young performers in WGI’s A and Open classes, the quality of the work by the young musicians, instructors, and their parents is amazing,” said Troy C. Wollwage, percussion marketing manager, Band & Orchestral division, Yamaha Corporation of America. “For decades, we’ve had the honor of watching many of WGI’s top groups use Yamaha percussion instruments as well as pro audio equipment. More recently, with the addition of the Winds division, we’re able to provide quality instruments to even more WGI members.”

The 2018 WGI gold medal winner in Scholastic World, for the second year in a row, was the Chino Hills High School Percussion Ensemble (Calif.). The silver medal in Scholastic World went to the percussion ensemble from the Dartmouth High School (Mass.), and Arcadia High School (Calif.) took the bronze medal. Broken City Percussion (Calif.) won the 2018 bronze medal in Independent World. The silver medal in Independent Open went to Spirit Winter Percussion (Mass.). Impact Percussion (Utah) took the gold medal in Independent 'A' and Florida International University Indoor received the silver medal in the Scholastic 'A' category.

The gold medal winner for the Winds Championship Independent Open class was awarded to Chromium Winds (Illinois). The Independent World silver medal went to Crossmen (Texas). Chromium Winds also took home the Independent Open Fan Favorite award as voted by fans during the weekend.

At the WGI World Championship Finals, Yamaha continued its tradition of awarding scholarships to two deserving WGI performers. The 2018 Yamaha/Dennis DeLucia Scholarship recipient was Colin Bradley from Orange County High School in Orange, Virginia. This scholarship is named for the acclaimed teacher, arranger and clinician who continues to contribute both indoor and outdoor marching music. Jack Higham from Burleson Centennial High School in Burleson, Texas won the 2018 Yamaha Music Education Scholarship, which supports students pursuing careers in music education. “For the entire Yamaha team, awarding these scholarships is always a highlight of the entire year,” Wollwage said. “We’re proud to work for a company that believes in and supports music education.”

In addition to Yamaha providing instruments and sound equipment to many groups competing in WGI this year, dozens of Yamaha Performing Artists took part as instructors, judges, ensemble directors and mentors throughout the season. Jeff Queen, former member of Blast!, provided rudiment lessons to all students and performers who attended the WGI Championships. Staged as a “silent drumline,” students were able to play on Yamaha DTX pads with headphones and hear Jeff’s instruction simultaneously.

Other Yamaha artists included Ian Grom and John Mapes, who worked with Chino Hills and Pulse Percussion; Tony Nunez and Kevin Shah, who directed the award-winning ensemble from Arcadia; Tom Aungst who worked with silver-medalist Dartmouth, and Jason Ihnat who leads Spirit Winter Percussion. “By sharing their time with WGI ensembles, these Yamaha artists not only teach young people how to be better musicians, but they’re also on hand to offer important life lessons about teamwork, discipline and leadership,” Wollwage said.

For more information about Yamaha Percussion, please visit http://4wrd.it/percussionweb

-END-

About Yamaha
Yamaha Corporation of America (YCA) is one of the largest subsidiaries of Yamaha Corporation, Japan and offers a full line of award-winning musical instruments, sound reinforcement, commercial installation and home entertainment products to the U.S. market. Products include: Yamaha acoustic, digital and hybrid pianos, portable keyboards, guitars, acoustic and electronic drums, band and orchestral instruments, marching percussion products, synthesizers, professional digital and analog audio equipment, Steinberg recording products and NEXO commercial audio products, as well as AV receivers, amplifiers, MusicCast wireless multiroom audio systems, Blu-ray/CD players, earphones, headphones, home-theater-in-a-box systems, sound bars and its exclusive line of Digital Sound Projectors. YCA markets innovative, finely crafted technology and entertainment products and musical instruments targeted to the hobbyist, education, worship, music, professional audio installation and consumer markets. Reported by PRWeb 3 hours ago.

TRI Pointe Group, Inc. Reports 2018 First Quarter Results

0
0
*-New Home Deliveries up 22% and New Home Orders up 15% for the Quarter-
**-Backlog Dollar Value up 39% on a 24% Increase in Backlog Units-
**-Homebuilding Gross Margin Percentage Increased 390 Basis Points to 22.7%-
**-Reports Diluted Earnings Per Share of $0.28, up from $0.05 in the Prior Year-*

IRVINE, Calif., April 25, 2018 (GLOBE NEWSWIRE) -- TRI Pointe Group, Inc. (the "Company") (NYSE:TPH) today announced results for the first quarter ended March 31, 2018.

*Results and Operational Data for First Quarter 2018 and Comparisons to First Quarter 2017 *

· Net income available to common stockholders was $42.9 million, or $0.28 per diluted share, compared to $8.2 million, or $0.05 per diluted share
· New home orders of 1,496 compared to 1,299, an increase of 15%
· Active selling communities averaged 129.8 compared to 125.5, an increase of 3%
— New home orders per average selling community were 11.5 orders (3.8 monthly) compared to 10.4 orders (3.5 monthly)
— Cancellation rate remained flat at 14%
· Backlog units at quarter end of 2,143 homes compared to 1,734, an increase of 24%
— Dollar value of backlog at quarter end of $1.4 billion compared to $1.0 billion, an increase of 39%
— Average sales price in backlog at quarter end of $658,000 compared to $585,000, an increase of 12%
· Home sales revenue of $582.6 million compared to $392.0 million, an increase of 49%
— New home deliveries of 924 homes compared to 758 homes, an increase of 22%
— Average sales price of homes delivered of $630,000 compared to $517,000, an increase of 22%
· Homebuilding gross margin percentage of 22.7% compared to 18.8%, an increase of 390 basis points
— Excluding interest and impairments and lot option abandonments, adjusted homebuilding gross margin percentage was 25.2%*
· SG&A expense as a percentage of homes sales revenue of 12.9% compared to 15.7%, a decrease of 280 basis points
· Ratios of debt-to-capital and net debt-to-net capital of 42.9% and 36.9%*, respectively, as of March 31, 2018
· Ended first quarter of 2018 with total liquidity of $917.2 million, including cash of $324.6 million and $592.6 million of availability under the Company's unsecured revolving credit facility
* See "Reconciliation of Non-GAAP Financial Measures"

“2018 is off to a great start,” said TRI Pointe Group Chief Executive Officer Doug Bauer. “Earnings per share for the first quarter of 2018 grew more than five-fold on a year-over-year basis, thanks to significant increases in unit deliveries, average sales prices, and homebuilding gross margins. We saw strong demand throughout the quarter, as evidenced by our absorption rate of 3.8 homes per community per month. This demand was broad based, both from a geographic and segmentation standpoint, which enabled us to raise prices in several of our communities and helped offset cost pressures that the homebuilding industry has been facing. Our legacy assets in California continued to deliver strong results for our company, and I am pleased to report that all of our brands posted year-over-year homebuilding gross margin improvement. With excellent momentum on a number of fronts and a 39% increase to quarter-ending backlog on a dollar value basis, TRI Pointe Group is well positioned to achieve its goals in 2018.”

*First Quarter 2018 Operating Results *

Net income available to common stockholders was $42.9 million, or $0.28 per diluted share, for the first quarter of 2018, compared to net income available to common stockholders of $8.2 million, or $0.05 per diluted share, for the first quarter of 2017.

Home sales revenue increased $190.6 million, or 49%, to $582.6 million for the first quarter of 2018, as compared to $392.0 million for the first quarter of 2017. The increase was primarily attributable to a 22% increase in new home deliveries to 924, and a 22% increase in the average sales price of homes delivered to $630,000, compared to $517,000 in the first quarter of 2017.

New home orders increased 15% to 1,496 homes for the first quarter of 2018, as compared to 1,299 homes for the same period in 2017. Average selling communities increased 3% to 129.8 for the first quarter of 2018 compared to 125.5 for the first quarter of 2017. The Company’s overall absorption rate per average selling community increased 11% for the first quarter of 2018 to 11.5 orders (3.8 monthly) compared to 10.4 orders (3.5 monthly) during the first quarter of 2017.

The Company ended the quarter with 2,143 homes in backlog, representing approximately $1.4 billion. The average sales price of homes in backlog as of March 31, 2018 increased $73,000, or 12%, to $658,000, compared to $585,000 as of March 31, 2017.

Homebuilding gross margin percentage for the first quarter of 2018 increased to 22.7%, compared to 18.8% for the first quarter of 2017. Excluding interest and impairments and lot option abandonments in cost of home sales, adjusted homebuilding gross margin percentage was 25.2%* for the first quarter of 2018, compared to 21.3%* for the first quarter of 2017. The increase in homebuilding gross margin percentage was largely due to the mix of homes delivered, primarily in California.

Selling, general and administrative ("SG&A") expense for the first quarter of 2018 decreased to 12.9% of home sales revenue as compared to 15.7% for the first quarter of 2017 primarily due to increased leverage as a result of a 49% increase in home sales revenue. 

“Our performance this quarter is a testament to the quality of our local leadership teams and the emphasis TRI Pointe Group has put on design and innovation,” said TRI Pointe Group Chief Operating Officer Tom Mitchell. “Housing fundamentals remain strong in the markets in which we build, and we’ve been able to capitalize on this strength by making sure we have the right product in the right location. We have empowered our local teams to run their operations in an entrepreneurial manner, and they in turn have embraced TRI Pointe’s unique approach to homebuilding. This dynamic has been our formula for success for several years now, and we believe it will continue into the future.”

* See “Reconciliation of Non-GAAP Financial Measures”

*Outlook*

For the second quarter of 2018, the Company expects to open 16 new communities, and close out of 19, resulting in 128 active selling communities as of June 30, 2018. In addition, the Company anticipates delivering 50% to 55% of its 2,143 units in backlog as of March 31, 2018 at an average sales price in a range of $620,000 to $630,000. The Company anticipates its homebuilding gross margin percentage will be in a range of 21.0% to 21.5% for the second quarter. Finally, the Company expects its SG&A expense as a percentage of home sales revenue to be in the range of 11.5% to 12.0% for the second quarter.

For the full year 2018, the Company is reiterating its original guidance of growing average selling communities by 5% compared to 2017 and delivering between 5,100 and 5,400 homes at an average sales price of approximately $610,000. The Company is updating its homebuilding gross margin percentage for the full year 2018 to be in the range of 21.0% to 21.5%, raising the low end of its previously stated range of 20.5% to 21.5%. The Company is reiterating its original guidance of SG&A expense as a percentage of home sales revenue to be in the range of 9.9% to 10.3% and its effective tax rate to be in the range of 25% to 26%.

*Earnings Conference Call*

The Company will host a conference call via live webcast for investors and other interested parties beginning at 10:00 a.m. Eastern Time on Wednesday, April 25, 2018. The call will be hosted by Doug Bauer, Chief Executive Officer, Tom Mitchell, President and Chief Operating Officer and Mike Grubbs, Chief Financial Officer.

Interested parties can listen to the call live and view the related presentation slides on the internet through the Investor Relations section of the Company’s website at www.TRIPointeGroup.com. Listeners should go to the website at least fifteen minutes prior to the call to download and install any necessary audio software. The call can also be accessed by dialing 1-877-407-3982 for domestic participants or 1-201-493-6780 for international participants. Participants should ask for the TRI Pointe Group First Quarter 2018 Earnings Conference Call. Those dialing in should do so at least ten minutes prior to the start. The replay of the call will be available for two weeks following the call. To access the replay, the domestic dial-in number is 1-844-512-2921, the international dial-in number is 1-412-317-6671, and the reference code is #13678166. An archive of the webcast will be available on the Company’s website for a limited time.

*About TRI Pointe Group, Inc.*

Headquartered in Irvine, California, TRI Pointe Group, Inc. (NYSE: TPH) is among the largest public homebuilders in the United States. The company designs, constructs and sells premium single-family homes through its portfolio of six quality brands across eight states, including Maracay Homes® in Arizona; Pardee Homes® in California and Nevada; Quadrant Homes® in Washington; Trendmaker® Homes in Texas; TRI Pointe Homes® in California and Colorado; and Winchester® Homes in Maryland and Virginia. Additional information is available at www.TRIPointeGroup.com. Winchester is a registered trademark and is used with permission.

*Forward-Looking Statements*

Various statements contained in this press release, including those that express a belief, expectation or intention, as well as those that are not statements of historical fact, are forward-looking statements. These forward-looking statements may include, but are not limited to, statements regarding our strategy, projections and estimates concerning the timing and success of specific projects and our future production, land and lot sales, operational and financial results, including our estimates for growth, financial condition, sales prices, prospects, and capital spending. Forward-looking statements that are included in this press release are generally accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “future,” “goal,” “guidance,” “intend,” “likely,” “may,” “might,” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “strategy,” “target,” “will,” “would,” or other words that convey future events or outcomes. The forward-looking statements in this press release speak only as of the date of this press release, and we disclaim any obligation to update these statements unless required by law, and we caution you not to rely on them unduly. These forward-looking statements are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. The following factors, among others, may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements: the effect of general economic conditions, including employment rates, housing starts, interest rate levels, availability of financing for home mortgages and strength of the U.S. dollar; market demand for our products, which is related to the strength of the various U.S. business segments and U.S. and international economic conditions; levels of competition; the successful execution of our internal performance plans, including any restructuring and cost reduction initiatives; global economic conditions; raw material prices; oil and other energy prices; the effect of weather, including the re-occurrence of drought conditions in California; the risk of loss from earthquakes, volcanoes, fires, floods, droughts, windstorms, hurricanes, pest infestations and other natural disasters, and the risk of delays, reduced consumer demand, and shortages and price increases in labor or materials associated with such natural disasters; transportation costs; federal and state tax policies; the effect of land use, environment and other governmental regulations; legal proceedings or disputes and the adequacy of reserves; risks relating to any unforeseen changes to or effects on liabilities, future capital expenditures, revenues, expenses, earnings, synergies, indebtedness, financial condition, losses and future prospects; changes in accounting principles; risks related to unauthorized access to our computer systems, theft of our customers’ confidential information or other forms of cyber-attack; and additional factors discussed under the sections captioned “Risk Factors” included in our annual and quarterly reports filed with the Securities and Exchange Commission. The foregoing list is not exhaustive. New risk factors may emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risk factors on our business.

*Investor Relations Contact:*

Chris Martin, TRI Pointe Group
Drew Mackintosh, Mackintosh Investor Relations
InvestorRelations@TRIPointeGroup.com, 949-478-8696

*Media Contact:*
Carol Ruiz, cruiz@newgroundco.com, 310-437-0045

 
*KEY OPERATIONS AND FINANCIAL DATA*
(dollars in thousands)
(unaudited)
 
    *Three Months Ended March 31,*
    *2018*   *2017*   *Change*
Operating Data:            
Home sales revenue   $ 582,572     $ 392,004     $ 190,568  
Homebuilding gross margin   $ 132,070     $ 73,600     $ 58,470  
Homebuilding gross margin %   22.7 %   18.8 %   3.9 %
Adjusted homebuilding gross margin %*   25.2 %   21.3 %   3.9 %
SG&A expense   $ 75,097     $ 61,349     $ 13,748  
SG&A expense as a % of home sales
   revenue   12.9 %   15.7 %   (2.8 )%
Net income available to common
   stockholders   $ 42,880     $ 8,193     $ 34,687  
Adjusted EBITDA*   $ 80,988     $ 27,681     $ 53,307  
Interest incurred   $ 21,520     $ 18,873     $ 2,647  
Interest in cost of home sales   $ 14,229     $ 9,680     $ 4,549  
             
Other Data:            
Net new home orders   1,496     1,299     197  
New homes delivered   924     758     166  
Average sales price of homes delivered   $ 630     $ 517     $ 113  
Average selling communities   129.8     125.5     4.3  
Selling communities at end of period   131     123     8  
Cancellation rate   14 %   14 %   %
Backlog (estimated dollar value)   $ 1,409,042     $ 1,014,163     $ 394,879  
Backlog (homes)   2,143     1,734     409  
Average sales price in backlog   $ 658     $ 585     $ 73  
             
    *March 31,*   *December 31,*    
    *2018*   *2017*   *Change*
Balance Sheet Data:            
Cash and cash equivalents   $ 324,608     $ 282,914     $ 41,694  
Real estate inventories   $ 3,145,555     $ 3,105,553     $ 40,002  
Lots owned or controlled   28,191     27,312     879  
Homes under construction ^(1)   2,282     1,941     341  
Homes completed, unsold   201     269     (68 )
Debt   $ 1,473,074     $ 1,471,302     $ 1,772  
Stockholders' equity   $ 1,963,644     $ 1,929,722     $ 33,922  
Book capitalization   $ 3,436,718     $ 3,401,024     $ 35,694  
Ratio of debt-to-capital   42.9 %   43.3 %   (0.4 )%
Ratio of net debt-to-net capital*   36.9 %   38.1 %   (1.2 )%

^(1) Homes under construction included 80 and 60 models at March 31, 2018 and December 31, 2017, respectively.
* See “Reconciliation of Non-GAAP Financial Measures”

 
*CONSOLIDATED BALANCE SHEETS*
(in thousands, except share amounts)
 
    *March 31,*   *December 31,*
    *2018*   *2017*
*Assets*   (unaudited)    
Cash and cash equivalents   $ 324,608     $ 282,914  
Receivables   55,249     125,600  
Real estate inventories   3,145,555     3,105,553  
Investments in unconsolidated entities   4,699     5,870  
Goodwill and other intangible assets, net   160,827     160,961  
Deferred tax assets, net   73,818     76,413  
Other assets   82,005     48,070  
Total assets   $ 3,846,761     $ 3,805,381  
         
*Liabilities*        
Accounts payable   $ 76,249     $ 72,870  
Accrued expenses and other liabilities   333,190     330,882  
Senior notes   1,473,074     1,471,302  
Total liabilities   1,882,513     1,875,054  
         
Commitments and contingencies        
         
*Equity*        
Stockholders' Equity:        
Preferred stock, $0.01 par value, 50,000,000 shares authorized; no
   shares issued and outstanding as of March 31, 2018 and
   December 31, 2017, respectively   —     —  
Common stock, $0.01 par value, 500,000,000 shares authorized;
   151,922,459 and 151,162,999 shares issued and outstanding at
   March 31, 2018 and December 31, 2017, respectively   1,519     1,512  
Additional paid-in capital   792,369     793,980  
Retained earnings   1,169,756     1,134,230  
Total stockholders' equity   1,963,644     1,929,722  
Noncontrolling interests   604     605  
Total equity   1,964,248     1,930,327  
Total liabilities and equity   $ 3,846,761     $ 3,805,381  

*CONSOLIDATED STATEMENT OF OPERATIONS*
(in thousands, except share and per share amounts)
(unaudited)
 
    *Three Months Ended March 31,*
    *2018*   *2017*
*Homebuilding:*        
Home sales revenue   $ 582,572     $ 392,004  
Land and lot sales revenue   223     578  
Other operations revenue   598     568  
Total revenues   583,393     393,150  
Cost of home sales   450,502     318,404  
Cost of land and lot sales   503     654  
Other operations expense   602     560  
Sales and marketing   38,283     26,700  
General and administrative   36,814     34,649  
Homebuilding income from operations   56,689     12,183  
Equity in (loss) income of unconsolidated entities   (468 )   138  
Other income, net   171     77  
Homebuilding income before income taxes   56,392     12,398  
*Financial Services:*        
Revenues   283     241  
Expenses   137     74  
Equity in income of unconsolidated entities   1,002     266  
Financial services income before income taxes   1,148     433  
*Income before income taxes*   57,540     12,831  
Provision for income taxes   (14,660 )   (4,614 )
Net income   42,880     8,217  
Net income attributable to noncontrolling interests   —     (24 )
Net income available to common stockholders   $ 42,880     $ 8,193  
Earnings per share        
Basic   $ 0.28     $ 0.05  
Diluted   $ 0.28     $ 0.05  
Weighted average shares outstanding        
Basic   151,464,547     158,769,478  
Diluted   152,775,851     159,390,586  

*MARKET DATA BY REPORTING SEGMENT & STATE*
(dollars in thousands)
(unaudited)
 
    *Three Months Ended March 31,*
    *2018*   *2017*
    *New*
*Homes*
*Delivered*   *Average*
*Sales*
*Price*   *New*
*Homes*
*Delivered*   *Average*
*Sales*
*Price*
*New Homes Delivered:*                
Maracay Homes   125     $ 468     119     $ 429  
Pardee Homes   274     659     196     427  
Quadrant Homes   83     739     63     633  
Trendmaker Homes   84     490     106     490  
TRI Pointe Homes   269     708     208     629  
Winchester Homes   89     570     66     524  
Total   924     $ 630     758     $ 517  
                 
                 
    *Three Months Ended March 31,*
    *2018*   *2017*
    *New*
*Homes*
*Delivered*   *Average*
*Sales*
*Price*   *New*
*Homes*
*Delivered*   *Average*
*Sales*
*Price*
*New Homes Delivered:*                
California   400     $ 736     299     $ 570  
Colorado   60     580     30     564  
Maryland   66     544     46     499  
Virginia   23     645     20     582  
Arizona   125     468     119     429  
Nevada   83     503     75     364  
Texas   84     490     106     490  
Washington   83     739     63     633  
Total   924     $ 630     758     $ 517  

*MARKET DATA BY REPORTING SEGMENT & STATE, continued*
(unaudited)
 
    *Three Months Ended March 31,*
    *2018*   *2017*
    *Net New
Home
Orders*   *Average
Selling
Communities*   *Net New
Home
Orders*   *Average
Selling
Communities*
*Net New Home Orders:*                
Maracay Homes   153     13.2     184     16.5  
Pardee Homes   473     32.5     378     28.5  
Quadrant Homes   108     7.0     120     7.5  
Trendmaker Homes   155     29.8     151     32.0  
TRI Pointe Homes   459     33.8     353     29.3  
Winchester Homes   148     13.5     113     11.7  
Total   1,496     129.8     1,299     125.5  
                 
                 
    *Three Months Ended March 31,*
    *2018*   *2017*
    *Net New
Home
Orders*   *Average
Selling
Communities*   *Net New
Home
Orders*   *Average
Selling
Communities*
*Net New Home Orders:*                
California   628     44.5     564     41.5  
Colorado   102     7.0     53     5.0  
Maryland   100     9.5     67     8.0  
Virginia   48     4.0     46     3.7  
Arizona   153     13.2     184     16.5  
Nevada   202     14.8     114     11.3  
Texas   155     29.8     151     32.0  
Washington   108     7.0     120     7.5  
Total   1,496     129.8     1,299     125.5  

*MARKET DATA BY REPORTING SEGMENT & STATE, continued*
(dollars in thousands)
(unaudited)
 
    *As of March 31, 2018*   *As of March 31, 2017*
    *Backlog
Units*   *Backlog
Dollar
Value*   *Average
Sales
Price*   *Backlog
Units*   *Backlog
Dollar
Value*   *Average
Sales
Price*
*Backlog:*                        
Maracay Homes   245     $ 123,617     $ 505     313     $ 153,389     $ 490  
Pardee Homes   608     408,324     672     442     248,621     562  
Quadrant Homes   169     138,025     817     158     111,551     706  
Trendmaker Homes   244     134,632     552     208     107,860     519  
TRI Pointe Homes   667     474,240     711     443     283,986     641  
Winchester Homes   210     130,204     620     170     108,756     640  
Total   2,143     $ 1,409,042     $ 658     1,734     $ 1,014,163     $ 585  
                         
                         
    *As of March 31, 2018*   *As of March 31, 2017*
    *Backlog
Units*   *Backlog
Dollar
Value*   *Average
Sales
Price*   *Backlog
Units*   *Backlog
Dollar
Value*   *Average
Sales
Price*
*Backlog:*                        
California   894     $ 662,008     $ 741     667     $ 421,381     $ 632  
Colorado   142     81,743     576     82     50,100     611  
Maryland   147     83,339     567     123     73,226     595  
Virginia   63     46,865     744     47     35,530     756  
Arizona   245     123,617     505     313     153,389     490  
Nevada   239     138,813     581     136     61,126     449  
Texas   244     134,632     552     208     107,860     519  
Washington   169     138,025     817     158     111,551     706  
Total   2,143     $ 1,409,042     $ 658     1,734     $ 1,014,163     $ 585  

*MARKET DATA BY REPORTING SEGMENT & STATE, continued*
(unaudited)
 
    *March 31,*   *December 31,*
    *2018*   *2017*
*Lots Owned or Controlled^(1):*        
Maracay Homes   3,001     2,519  
Pardee Homes   15,613     15,144  
Quadrant Homes   1,773     1,726  
Trendmaker Homes   1,932     1,855  
TRI Pointe Homes   3,717     3,964  
Winchester Homes   2,155     2,104  
Total   28,191     27,312  
         
         
    *March 31,*   *December 31,*
    *2018*   *2017*
*Lots Owned or Controlled^(1):*        
California   16,140     16,292  
Colorado   782     742  
Maryland   1,445     1,507  
Virginia   710     597  
Arizona   3,001     2,519  
Nevada   2,408     2,074  
Texas   1,932     1,855  
Washington   1,773     1,726  
Total   28,191     27,312  
         
         
    *March 31,*   *December 31,*
    *2018*   *2017*
*Lots by Ownership Type:*        
Lots owned   23,690     23,940  
Lots controlled^(1)   4,501     3,372  
Total   28,191     27,312  

^(1) As of March 31, 2018 and December 31, 2017, lots controlled included lots that were under land option contracts or purchase contracts.

*RECONCILIATION OF NON-GAAP FINANCIAL MEASURES*
(unaudited)

In this press release, we utilize certain financial measures that are non-GAAP financial measures as defined by the Securities and Exchange Commission. We present these measures because we believe they and similar measures are useful to management and investors in evaluating the Company’s operating performance and financing structure. We also believe these measures facilitate the comparison of our operating performance and financing structure with other companies in our industry. Because these measures are not calculated in accordance with Generally Accepted Accounting Principles (“GAAP”), they may not be comparable to other similarly titled measures of other companies and should not be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP.

The following table reconciles homebuilding gross margin percentage, as reported and prepared in accordance with GAAP, to the non-GAAP measure adjusted homebuilding gross margin percentage. We believe this information is meaningful as it isolates the impact that leverage has on homebuilding gross margin and permits investors to make better comparisons with our competitors, who adjust gross margins in a similar fashion.

     
    *Three Months Ended March 31,*
    *2018*   *%*   *2017*   *%*
    (dollars in thousands)
Home sales revenue   $ 582,572     100.0 %   $ 392,004     100.0 %
Cost of home sales   450,502     77.3 %   318,404     81.2 %
Homebuilding gross margin   132,070     22.7 %   73,600     18.8 %
Add: interest in cost of home sales   14,229     2.4 %   9,680     2.5 %
Add: impairments and lot option abandonments   248     0.0 %   288     0.1 %
Adjusted homebuilding gross margin   $ 146,547     25.2 %   $ 83,568     21.3 %
Homebuilding gross margin percentage   22.7 %       18.8 %    
Adjusted homebuilding gross margin percentage   25.2 %       21.3 %    
                     

*RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued)*
(unaudited)

The following table reconciles the Company’s ratio of debt-to-capital to the non-GAAP ratio of net debt-to-net capital. We believe that the ratio of net debt-to-net capital is a relevant financial measure for management and investors to understand the leverage employed in our operations and as an indicator of the Company’s ability to obtain financing.

         
    *March 31, 2018*   *December 31, 2017*
Senior notes   $ 1,473,074     $ 1,471,302  
Total debt   1,473,074     1,471,302  
Stockholders’ equity   1,963,644     1,929,722  
Total capital   $ 3,436,718     $ 3,401,024  
Ratio of debt-to-capital^(1)   42.9 %   43.3 %
         
Total debt   $ 1,473,074     $ 1,471,302  
Less: Cash and cash equivalents   (324,608 )   (282,914 )
Net debt   1,148,466     1,188,388  
Stockholders’ equity   1,963,644     1,929,722  
Net capital   $ 3,112,110     $ 3,118,110  
Ratio of net debt-to-net capital^(2)   36.9 %   38.1 %

^(1) The ratio of debt-to-capital is computed as the quotient obtained by dividing debt by the sum of debt plus equity.
^(2) The ratio of net debt-to-net capital is computed as the quotient obtained by dividing net debt (which is debt less cash and cash equivalents) by the sum of net debt plus equity.

*RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (continued)*
(unaudited)

The following table calculates the non-GAAP financial measures of EBITDA and Adjusted EBITDA and reconciles those amounts to net income, as reported and prepared in accordance with GAAP. EBITDA means net income before (a) interest expense, (b) expensing of previously capitalized interest included in costs of home sales, (c) income taxes and (d) depreciation and amortization. Adjusted EBITDA means EBITDA before (e) amortization of stock-based compensation, (f) impairments and lot option abandonments and (h) restructuring charges. Other companies may calculate EBITDA and Adjusted EBITDA (or similarly titled measures) differently. We believe EBITDA and Adjusted EBITDA are useful measures of the Company’s ability to service debt and obtain financing.

     
    *Three Months Ended March 31,*
    *2018*   *2017*
    (in thousands)
Net income available to common stockholders   $ 42,880     $ 8,193  
Interest expense:        
Interest incurred   21,520     18,873  
Interest capitalized   (21,520 )   (18,873 )
Amortization of interest in cost of sales   14,242     9,687  
Provision for income taxes   14,660     4,614  
Depreciation and amortization   5,488     822  
EBITDA   77,270     23,316  
Amortization of stock-based compensation   3,470     3,841  
Impairments and lot option abandonments   248     321  
Restructuring charges   —     203  
Adjusted EBITDA   $ 80,988     $ 27,681   Reported by GlobeNewswire 3 hours ago.

Lightbridge Chairman Ambassador Graham to Provide Keynote Speech Entitled ‘Global Hotspots from North Korea to Iran’

0
0
Plans to discuss global issues of nuclear proliferation including the non-proliferation and safety benefits of Lightbridge’s advanced metallic nuclear fuel

RESTON, Va., April 25, 2018 (GLOBE NEWSWIRE) -- Ambassador Thomas Graham, Executive Chairman of Lightbridge Corporation (NASDAQ:LTBR), is scheduled to provide the annual international keynote speech to the Frankfort Kentucky Rotary Club, held in connection with Global Connections TV and the Kentucky World Affairs Council, entitled ‘Global Hotspots from North Korea to Iran.’ The presentation is scheduled for 7 pm on April 26, 2018 and will be syndicated to a variety of networks. A link to the event will also be posted to Lightbridge’s website after the event. Ambassador Graham plans to discuss new ways to address issues of nuclear proliferation, including the non-proliferation and safety benefits of Lightbridge’s advanced metallic nuclear fuel.Graham has a long history in nonproliferation, including taking part in every major nuclear arms control negotiation between 1970 and 1997 that involved the United States. He also served as President Bill Clinton’s Special Representative for Arms Control, Non-Proliferation, and Disarmament. In 2017, Graham co-authored with writer Scott Montgomery, “Seeing the Light: The Case for Nuclear Power in the 21st Century,” which lays out in detail why nuclear energy is not just an option but a necessity in the fight against climate change.

Global Connections Television, which is a free public service with host Bill Miller, features in-depth interviews with leaders and officials from the United Nations, governments, private sector and civil society. GCTV episodes, which are privately funded and independently produced, are broadcast around the English-speaking world through cable, satellite, public-access television, and the World Wide Web.

Lightbridge is developing innovative metallic fuel designed to make both existing and new nuclear power plants more efficient and cost-competitive. Lightbridge launched a new joint venture, Enfission, in January to develop, license and sell nuclear fuel assemblies based on Lightbridge’s patented technology in partnership with Framatome, a leader in nuclear fuel, components and reactor services.

*About Lightbridge Corporation*

Lightbridge (NASDAQ:LTBR) is a nuclear fuel technology development company based in Reston, Virginia, USA. The Company develops proprietary next generation nuclear fuel technologies for current and future reactors. The technology significantly enhances the economics and safety of nuclear power, operating about 1000° C cooler than standard fuel. Lightbridge invented, patented and has independently validated the technology, including successful demonstration of the fuel in a research reactor with near-term plans to demonstrate the fuel under commercial reactor conditions. The Company has assembled a world class development team including veterans of leading global fuel manufacturers. Four large electric utilities that generate about half the nuclear power in the US already advise Lightbridge on fuel development and deployment. The Company operates under a licensing and royalty model, independently validated and based on the increased power generated by Lightbridge-designed fuel and high ROI for operators of existing and new reactors. The economic benefits are further enhanced by anticipated carbon credits available under the Clean Power Plan. Lightbridge also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. For more information please visit: www.ltbridge.com.

To receive Lightbridge Corporation updates via e-mail, subscribe at http://ir.ltbridge.com/alerts.cfm.

Lightbridge is on Twitter. Sign up to follow @LightbridgeCorp at http://twitter.com/lightbridgecorp.

*Forward Looking Statements*

With the exception of historical matters, the matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's joint venture operating agreement and other binding agreements with Framatome, the expected cooperation between Framatome and the Company, the ability of commercial nuclear utilities to generate more electricity from their nuclear power plants using Lightbridge fuel, and that the economic and safety benefits of our fuel will encourage greater use of nuclear power. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to, the degree of market adoption of the Company's product and service offerings; market competition; dependence on strategic partners; demand for fuel for nuclear reactors; the Company's ability to manage its business effectively in a rapidly evolving market; as well as other factors described in Lightbridge's filings with the Securities and Exchange Commission. Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. Readers are cautioned not to put undue reliance on forward-looking statements.

*Investor Relations Contact:
*David Waldman/Natalya Rudman
Tel. +1 855-379-9900
ir@ltbridge.com Reported by GlobeNewswire 1 hour ago.

Virginia Police reviewing traffic stop of Paul Richardson

0
0
Reported by Pro Football Talk 1 hour ago.

Budget to draw Virginia Senate back to work on May 14

0
0
RICHMOND, Va. (AP) — The Virginia Senate will consider a new state budget on May 14, nearly a month after the House sent its spending plans over. The Richmond Times-Dispatch reports the Senate has yet to send two House budget bills to its Finance Committee for consideration. Senate Republican leaders opposed to the House Medicaid […] Reported by Seattle Times 19 minutes ago.

Norfolk Southern: 1Q Earnings Snapshot

0
0
NORFOLK, Va. (AP) — Norfolk Southern Corp. (NSC) on Wednesday reported first-quarter earnings of $552 million. The Norfolk, Virginia-based company said it had profit of $1.93 per share. The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share. The railroad posted […] Reported by Seattle Times 1 second ago.
Viewing all 42371 articles
Browse latest View live




Latest Images