Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at email@example.com in case you need any other additional information.
"We had another good quarter, with strong top-line growth and adjusted EPS up 27 per cent, driven primarily by strong operating results," said Mitch Butier, president and CEO. "Label and Graphic Materials delivered high-single digit organic growth and sustained its strong operating margin. Retail Branding and Information Solutions expanded its margin significantly on organic growth of nearly 10 per cent, driven by strength in both RFID and the base business. While, Industrial and Healthcare Materials delivered modest organic growth with margin in line with expectations,"
"Our current year outlook for adjusted earnings has improved despite currency-related headwinds in the back half of the year. Our ability to consistently achieve our strategic and financial goals in the face of significant changes in the macro environment, including the strengthening of the dollar and higher than expected inflation, demonstrates the resilience of our business and the talent of our team," added Butier.
The second quarter Gaap effective tax rate was 31.4 per cent, up from 19.1 per cent in the prior year. The full year Gaap effective tax rate is estimated to be approximately 20 per cent, reflecting the effect of the anticipated third quarter pension contribution, which is expected to be deducted on the company’s 2017 US income tax return. The adjusted non-Gaap tax rate for the reported quarter was 25 per cent, consistent with the company’s previous guidance.
The company realised approximately $9 million in pretax savings in the second quarter, from restructuring, net of transition costs, and incurred pretax restructuring charges of approximately $59 million. Most of these charges relate to severance costs associated with a previously announced restructuring plan in Europe, the vast majority of which will be paid in 2019.
The company expects reported earnings per share of $4.50 to $4.85 in fiscal 2018. This excluding an estimated $1.25 to $1.45 per share for restructuring charges, pension settlement charges, and other items, the company now expects adjusted earnings per share (non-Gaap) of $5.95 to $6.10. (RR)
Fibre2Fashion News Desk – India
| On 11th Jul 2020
The European Commission recently published a set of resources to help ...
| On 11th Jul 2020
Inditex, a Spanish fashion retailer, has announced that to accelerate ...
ING Bank, the fourth-largest bank by assets in Romania, launched its...
The budget will give major impetus to textile and apparel consumption
Md Hanifur Rahman
The level of understanding the job role and organisational requirements...
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016
'Major problem in the textile machinery manufacturing industry is the lack ...
Surat-based Sunrise Imports & Exports Co is a
Epson is a world leader in digital imaging and printing solutions....
Ravi Kant Prakash
A crucial role in the process of fabric manufacturing is played by the...
Directa Plus SpA
Directa Plus is one of the largest producers and suppliers worldwide of...
Biovation II LLC
Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...
Broadcast Wearables Pvt Ltd
Hyderabad-based Broadcast Wearables has come up with the country's first...
Gramin Vikas Evam Chetna Sansthan
Ruma Devi is a jet-setting promoter of artisans who has empowered...
<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...
Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.