Model Airplanes

Safran SA (OTC:SAFRF) Q4 2014 Earnings Conference Call February 25, 2015 2:45 AM ET

Jean-Paul Herteman

Okay, good morning, everybody, whether being there in Paris or being with us online. Very happy to be with you and once again to present you figures and facts about a very good year of Safran.

What can we say regarding 2014? It’s a combination of two big things, first one being truly, deeply investing to prepare our future. I mean executing key strategic engine development programs such like LEAP, Silvercrest, the new family of helicopter turbines, at the same time capturing new opportunities such like participation in the engine of the new Boeing 777X as well as equipment on the new Airbus A330neo investing at historical peak level, both in RD and in industrial capital expenditure to meet both new programs and a ramp-up in production both for engine equipment and other things.

And so 2014 has been a very particular year, very intense in the preparation of our future. And nevertheless we have been happy to deliver very good figures. Revenues up almost 7%, adjusted recurring operating income up 17.4%, even above our guidance. Net income has been growing only by 4.6%, but you have to keep in mind that in 2013 we had the effect of a non-recurring sale of participation that led to a significant boost in profitability. And if we don’t take that into account the growth of net profit 2013 to 2014 has been 17% as well.

We propose

Article source: http://seekingalpha.com/article/2960826-safrans-safrf-ceo-jean-paul-herteman-on-q4-2014-results-earnings-call-transcript

Article source: http://www.perishablepundit.com/index.php?article=3009

Question-and-Answer Session

Operator

Thank you. [Operator Instructions] Our first question comes from Bobby Burleson with Canaccord. Please state your question.

Bobby Burleson

Just wondering about the FX comments, what you would have expected the growth rate to be in 2015 minus FX headwinds, and if there is any kind of, on the parts business or any other metals, any of your other areas, where maybe there is aggressive pricing concerns out of the European competitors?

Avi Reichental

Yes. There are a couple of things, Bobby, to consider here. As we look at FX, we certainly did not foresee the sharp decline in foreign currencies that taps in towards the tail end of the year.

As we look, particularly, at Europe at the moment, we see those headwinds continuing well into the second half of this year. However, we are very pleased with our European performance, notwithstanding these headwinds.

I mean, remember the fourth quarter alone the foreign currency reduced our revenue by some-$6 million, so that can give you an early indication.

However, as we go forward, we think that our EMEA channel is probably our strongest performing channel. They have been sailing all of our products extremely well and we expect that notwithstanding these kinds of headwinds, we will continue to do well in Europe.

However, it does certainly compress growth rates and it will also put some pressure as the year progresses on earnings and we have tried to the best of our ability to factor all those items into our guidance.

If you look at growth

Article source: http://seekingalpha.com/article/2955146-3d-systems-ddd-ceo-avi-reichental-on-q4-2014-results-earnings-call-transcript

Courtesy photo

Lane Motor Museum

On display at Lane Motor Museum in Nashville, Tenn., is a 1922 A.B.C., which was produced by A.B.C. motors. A.B.C. motors made airplane engines, motorcycles and this car, which was powered by flat-twin engines designed by Granville Bradshaw. The model shown above is a two-seater tour, but was also made with four seats. In total, only 1,500 models were made and production ceased in 1925.

Courtesy photo

Lane Motor Museum

 A display of vintage European motorcycles lines the walls at Lane Motor Museum.

Article source: http://www.fortcampbellcourier.com/leisure/article_82e05cb8-bd66-11e4-933c-eb5b5f3e9400.html

GRAHAM DWYER’S WIFE gave evidence in court today about a letter her husband allegedly sent to her last February.

Gemma Dwyer also told the court that she noticed in the summer of 2013 that a spade from their garden was missing.

Leading Gemma Dwyer through her evidence, Sean Guerin SC, prosecuting, asked if it was correct that she was the wife of “the accused man, Graham Dwyer.”

“I am,” she replied.

Mr Dwyer (42) is charged with the murder of Elaine O’Hara at Killakee, Rathfarnham on 22 August 2012, hours after she was discharged from a mental health hospital.

The Cork-born father of three from Kerrymount Close, Foxrock, Dublin has pleaded not guilty to the charges.

Guerin read a letter to the court he said was sent from Mr Dwyer to his wife Gemma on 28 February 2014. The court was told that Mrs Dwyer recognised the handwriting as her husband’s.

Letter 

In the letter, the writer denied involvement in Elaine O’Hara’s murder, calling her “that awful woman”.

“Do not

Article source: http://www.the42.ie/graham-dwyer-trial-elaine-ohara-6-1958954-Feb2015/

13:14 pm: Kisan Yatra — a special travel scheme for farmers finds mention in Rail Minister Suresh Prabhu’s speech

13:13 pm: Skill-development and self-employment to be encouraged on Konkan Railway mode: RM

13:12 pm: Four Railway Research Centres to start in four universities: RM

13:12 pm: 100 DEMUs to be converted to dual fuels: RM

13:10 pm: Investment in Indian Railways is an investment in our future, sustainability says Rail Minister Suresh Prabhu.

13:10 pm: Making efforts to get noise levels of locos to international standards: RM

Scenes from railways stations during presentation of the Railway Budget 2015-16. Photo: Sandeep Saxena

13:10 pm: Water-recycling plants to be set up after a water audit: RM

13:09 pm: 1,000-MV solar plants to be set-up by developers on Railway Pvt. Land and on railway building at own cost: RM

13:08 pm: To impart soft skills to our staff we intend to impart regular training to our staff: RM

13:08 pm: We have set up an environment directive in Railway Board: RM

13:07 pm: Yoga training will be given to railway guards: RM

13:07 pm: Monetisation of Railway resources rather than selling assets will be the focus: RM

13:06 pm: Rs.2,000 cr for Coastal Connectivity Program; Rs.2,500 cr through BOT/Annuity route. 1,000-MW solar plant; 100 DEMUs to dual fuel: RM

13:05 pm: Process and procedures simplified to prevent delays; internal audit of systems

Article source: http://www.thehindu.com/business/budget/full-coverage-railway-budget-2015/article6936262.ece