Bayer Publishes First Quarterly Report of 2015

Bayer has continued to improve its operating performance. Business expansion has occurred in all Consumer Health divisions, especially in Consumer Care where products acquired by Merck & Co., Inc. have contributed. Significant growth in sales and earnings were reported at HealthCare.

The CropScience business were improved over the previous year quarter however overall earnings were down. Performance was steady even in a weaker market environment.

MaterialScience felt an expected slight decline in sales due to lower raw material prices resulting in lower selling prices.

Due to the positive business development seen in the first quarter this year Bayer will be raising their Group guidance for 2015 due to currency effects. Groups sales rose to EUR 12.1 billion. Net income decreased 8.4% to EUR 1.3 billion. EBITDA before special items increased 9.6% to EUR 3 billion and EBIT decreased 4.7% to EUR 2 billion. Core earnings per share raised 7.7% to EUR 2.10.

READ THE FULL MANAGEMENT REPORT

Novartis reports on 2014 progress

Novartis delivered solid sales growth, margin expansion and pipeline progress in 2014, according to a  January 27 news release which also indicated portfolio transformation will focus the company on leading business. 

Net sales and operating income both increased by 1% in 2014 to USD 58 billion and USD 10.7 billion respectively. Net income grew by 12% to USD 10.3 billion. 

Growth products and Emerging Growth Markets continued to drive performance in 2014 Q4 with an increase of 14% to USD 4.7 billion, or 32% of Group net sales. Novartis also saw continued progress in transforming portfolio and increasing productivity with its divestment of Animal Health Division to Eli Lilly and Company, which completed on January 1, 2015. 

READ THE REPORT

PetSmart announces third quarter 2014 results

PetSmart, Inc. announced fiscal results for the third quarter of 2014 last week. The company also provided details on its plans to reduce costs by $200 million through its previously announced profit improvement program. 

Net Sales for the third quarter of 2014 increased 2.6% to $1.7 billion. Services sales grew 6.0% to $195.3 million. 

The company generated $125.3 million in cash flows from operating activities, invested $37.1 million in capital expenditures, distributed $19.4 million in dividends, and made no purchases of PetSmart stock during the quarter. The company ended the quarter with $254.8 million in cash, cash equivilents and restricted cash, and it had no borrowings against its credit facility. 

In the third quarter of 2014, PetSmart announced a profit improvement program designed to fundamentally restructure the cost base of the company as part of a multi-faceted plan to drive future profitability.

As a result of this program, the company expects to fully implement actions by the end of fiscal year 2015 that are expected to result in annual pre-tax cost savings of $200 million. Approximately 60% of the annual savings is expected to be realized in 2015, with the full value realized in 2016. The savings will be realized within both cost of goods sold and operating, general and administrative (OG&A) expenses.

READ THE NEWS RELEASE 

Bayer AG publishes third quarter report for 2014

The Bayer Group continued its strong upward trend in the Life Science business - HealthCare and CropScience - for the third quarter of 2014.

"We saw robust sales growth for our recently launched pharmaceutical products and in our CropScience business in North and Latin America," said Bayer Management Board Chairman, Dr. Marijn Dekkers. 

Sales of the Bayer Group rose by 5.6% in the third quarter of 2014 to EUR 10,187 million. Gross cash flow rose by 9.1% to EUR 1,492 million due to improvement in EBITDA, while cash flow moved ahead by 5.1% to EUR 1,816 million. Net financial debt declined from EUR 9.9 billion on June 20, 2014, to EUR 8.5 billion on September 30, 2014.

Sales in the Consumer Health segment rose by 2.4% to EUR 1,921 million. This increase was driven by the Consumer Care and Animal Health divisions. In the Animal Health Division, sales of the Seresto™ flea and tick collar in Europe developed particularly well. 

READ THE REPORT 

PetSmart Announces Second Quarter 2014 Results

PetSmart Inc. announced its financial results for the second quarter of 2014, and affirmed guidance for the fiscal year 2014. 

Earnings of $0.98 per share were up 10.1% compared to $0.89 per share in the second quarter of 2013. Net income increase 5.1% to $98.1 million, compared to $93.4 million in the prior year period. Net sales for the second quarter of 2014 increase 1.4% to $1.7 billion. Comparable store sales decreased 0.5% with comparable transactions decreasing 2.6%. Services sales, which are included in net sales, grew 4.7% to $214 million. 

"While we face many of the same headwinds affecting other retailers, we continue to deliver extraordinary value to our customer and achieve strong earnings and cash flows," said PetSmart president and CEO David Lenhardt. " We are focused on leveraging our competitive strengths, including superior customer focus and loyalty, and capitalizing on the continued growth of the specialty channel." 

News of the Pet360 acquisition was also announced during the PetSmart quarterly earnings call. Other forward-looking initiatives announced by PetSmart include broadening its assortment of grocery store and mass brands as well as introducing more proprietary and exclusive brands. 

READ THE NEWS RELEASE 

Procter & Gamble focuses on the big brands

Procter and Gamble announced last week it plans to sell or discontinue as many as 100 brands in the next two years to cut costs and focus on its most important products. 

The company hasn't shown any attachment to some of its larger brand names in the past. It has entirely exited the food business, where it once owned big brands like Jif peanut butter, Folgers coffee and Pringles potato chips. Earlier this year, P&G announced it would also be exiting the pet food business, releasing IAMS and Eukanuba from its portfolio.

READ MORE: Mars to buy most of P&G's pet food business for $2.9 billion

The 70-80 brands that remain will have accounted for 90 per cent of the company's sales and more than 95 per cent of its profit in the past three years, said CEO A.G. Lafley.   

READ MORE: P&G Delivers Fiscal Year Commitments; Organic Sales Increase 3%, Core Earnings Per Share up 5%

"In summary, we are going to create a faster growing, more profitable company that is far simpler to manage and operate," said Lafley conference call to discuss fourth-quarter earnings, which beat analysts’ estimates. "This will enable P&G people to be more agile and responsive, more flexible and faster. Less will be much more." 

READ MORE: Procter and Gamble’s CEO is dismantling the behemoth he spent a decade building

READ MORE: P&G Plans to Shed 100 Brands to Focus on Top Performers

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Bayer Animal Health sees positive sales in Q2 2014

The Bayer Group was again successful in the second quarter of 2014. Sales of the Bayer Group rose by 0.9% in the second quarter to EUR 10,458 million (Q2 2013: EUR 10,360). Adjusted for currency and portfolio effects, sales advanced by 6,3%. EBIT rose by 14.5% to EUR 1.473 million (Q2 2013: EUR 1.287 million). 

Gross cash flow in the second quarter of 2014 advanced by 1.5% to EUR 1,705 million (Q2 2013: EUR 1,680 million) due to the improvement in EBITDA, while cash flow moved ahead by 4.2% to EUR 1,601 million (Q2 2013: EUR 1,536 million). Net financial debt increased from EUR 9.1 billion on March 31, 2014 to EUR 9.9 billion on June 30, 2014. 

READ MORE: Stockholders Newsletter Second Quarter 2014

Sales of HealthCare rose in the second quarter by 0.9% to EUR 4,485 million (Q2 2013: EUR 4,800 million). The Animal Health business developed positively with 5% growth to EUR 362 million (Q2 2013: EUR 358 million). The Seresto™ flea and tick collar contributed to this increase, partly on account of volume gains in the United STates. Sales of the Advantage™ line of flea, tick and worm control products showed a slight decrease. 

READ MORE: Bayer continues positive business development

PetSmart Announces First Quarter 2014 Results

PetSmart Inc., announced today financial results for the first quarter of 2014 with reported earnings up 6.1% to $1.04 per share and total sales up 1.1%. 

Net income increased 1.3% to $104 million, compared to $102 million in the first quarter of 2013. Net sales for the first quarter of 2014 increased 1.1% to $1.7 billion. Comparable store sales, or sales in stores open for at least one year, including online sales, fell $0.6%, with comparable transactions decreasing 2.2%. Services sales, which are included in net sales, grew 4.5% to $200 million.

The company generated $137 million in cash flows from operating activities, spent $32 million in capital expenditures, distributed $20 million in dividends and repurchased $130 million of PetSmart stock. PetSmart Inc., ended the quarter with $301 million in cash, cash equivalents and restricted cash and zero borrowings on its credit facility. 

READ THE NEWS RELEASE 

PetSmart, Inc. to Host First Quarter 2014 Earnings Conference Call

PetSmart, Inc. (NASDAQ: PETM) will release its results for the first quarter 2014 before market open onWednesday, May 21, 2014. Additionally, the company will host a conference call on Wednesday, May 21, 2014, beginning at 10:00 a.m. (EDT), to discuss the results of the quarter. To listen to the live call, dial: Within the United States and Canada: (866) 814-1933 Internationally: (703) 639-1365 Conference ID #: 1637996 -or- Listen at www.petm.com A replay of the conference call will be available through June 21, 2014 11:59 p.m. EDT. FOR MORE INFORMATION, CLICK HERE.

Bayer releases 2014 Q1 Financial Report

Bayer released its first quarter financial report this week and the pharmaceutical company is reporting encouraging growth in its sales and earnings. 

Gross cash flow in the first quarter of 2014 rose by 13.3% to €2,048 million due to the improvement in EBITDA. Net cash flow, however, declined to €163 million because more cash was tied up in working capital. 

Net financial debt rose from €6.7 billion on December 31, 2013, to €9.1 billion on March 31, 2014. This increase was driven by the acquisition of Algeta ASA, Norway. 

Sales of the Animal Health Division rose by 8.0% to €330 million. Business with our Advantage™ line of flea, tick and worm control products developed particularly well. 

READ THE REPORT 

PetSmart Reports Results for the Fourth Quarter and Fiscal Year 2013

PetSmart, Inc. announced financial results for the fourth quarter and fiscal year of 2013, last week and  applauded a fourth consecutive year of double-digit earnings per share growth. 

Fourth quarter results report earnings of $1.28 per share were up 19.6% and net income increased 14% to $132 million in the fourth quarter of 2013. Net sales for the fourth quarter of 2013 increased 2.9% to $1.8 billion. 

For the year, the company delivered earnings per share of $4.02, up 18.9%. Comparable store sales grew 2.7% and net sales for the year were $6.0 billion. 

The company generated $615 million in cash flows from operating activities, spent $147 million in capital expenditures, distributed $54 million in dividends and repurchased $464 million in PetSmart stock. 

The financial report also provided guidance for fiscal 2014 which included: Comparable store sales growth of 2-4%; Net sales growth of 4-6%; Earnings per share between $4.42 to $4.54; and Capital expenditures of $150 million to $160 million. 

READ THE NEWS RELEASE

Big Heart Pet Brands reports fiscal 2014 third quarter results

Last month, Big Heart Pet Brands (formerly known as Del Monte Corporation) completed the sale of its Consumer Products business and is now one of the largest standalone pet products companies in the U.S. 

Last week, the company announced its third quarter results for fiscal 2014. Highlights from the report include a net sales increase of 9% to $576 million in pet products, an increase in operating income by 27% to $82 million and adjusted EBITDA increased 15% to $131 million. 

"As a standalone pet products company, Big Hearts Pet Brands will be singularly focused on capturing growth opportunities in the expanding $21 billion U.S. pet products category," said Dave West, president and CEO of Big Heart Pet Brands. "We are uniquely positioned with a powerful and broad portfolio of iconic pet brands, strong position in key pet food categories, robust business fundamentals and a commitment to creating a better future for pets by nurturing the bond between pets and the people who love them." 

READ THE NEWS RELEASE

Del Monte Pet Products relaunches as Big Heart Pet Products

Del Monte Foods Pet Products is rebranding as Big Heart Pet Products. The creation of Big Heart Pet Brands follows the company's sale of its Consumer Products division to Del Monte Pacific Limited. 

The new name reflects the company's singular focus on the pet products market and underscores the company's purpose: nurturing the bond between pets and the people who love them. Big Heart Pet Brands will continue to deliver iconic and well-known brands: Milk-Bone®, Meow Mix®, Natural Balance®, Kibbles 'n Bits®, 9Lives®, Milo's Kitchen®, Pup-Peroni®, Nature's Recipe®, Canine Carry Outs®, Gravy Train®, as well as other brand names.

“As a standalone pet products company, Big Heart Pet Brands will be singularly focused on capturing growth opportunities in the expanding $21 billion pet products category,” said Dave West, president and chief executive officer of Big Heart Pet Brands.

READ THE NEWS RELEASE

Big Heart Pet Brands will host a conference call/webcast and slide presentation to discus its fiscal 2014 third quarter results. The company invites interested parties to listen to its presentation, which will be webcast live on Friday, March 7, 2014 at 8 a.m. Pacific. For more information, CLICK HERE.

PetSmart 3rd Quarter keeps company in black

PetSmart, Inc. announced its financial results for the third quarter of 2013 with earnings of $0.88 per share and net income of $92 million. 

Total sales for the quarter increased 4.0% to $1.7 billion. Comparable store sales, or sales in stores open at least a year, grew 2.7%, including comparable transactions growth of 0.2%. Service sales, which are included in total sales, grew 5.2% to $184 billion. 

The company generated $107 million in cash flows from operating activities, spent $51 million in capitals expenditures, distributed $17 million in dividends and repurchased $30 million of PetSmart stock. The company ended the quarter with $367 million in cash, cash equiviants and restricted cash and zero borrowings on its credit facility. 

READ THE NEWS RELEASE

Bayer continues positive business momentum

The Bayer Group continued its positive business momentum in the third quarter of 2013 with substantial contributions from the Life Science, Healthcare and CropScience sectors. 

"Healthcare registered encouraging growth, largely due to the outstanding sales performance for our new pharmaceutical products," said Bayer Management Board Chairman, Dr. Marijn Dekkers. 

After currency and portfolio adjustments, reported sales of the Bayer Group grew by 6.0%. Earnings before interest and tax improved by a substantial 47.5% to EUR 1,221 million. Gross cash flow moved ahead by 35.9% to EUR 1,367 million, mainly as a result of the significant improvement in EBIT. Net cash flow fell by 13.0% to EUR 1,728 million because less working capital was released than in the prior-year quarter. Net financial debt declined from EUR 9.0 billion on June 30, 2013 to EUR 7.7 billion on Sept. 30, 2013, largely as a result of cash inflows from operating activities. 

For the full report, visit BAYER INVESTOR RELATIONS

PetSmart announces Second Quarter 2013 Results

PetSmart, Inc. released its second quarter 2013 results last week, reporting earnings of $0.89 per share, up 25% compared to $0.71 per share in the second quarter of 2012. Net income totalled $93 million in the second quarter of 2013, compared to $79 million in the same quarter of 2012. 

Total sales for the second quarter of 2013 increased 5.3% to $1.7 billion. Comparable store sales, or sales in stores open at least a year, grew 3.4%, benefitting from comparable transactions growth of 1.0%. Services sales, which are included in total sales, grew 7.3% to $205 million. 

READ THE REPORT 

PetSmart, Inc. to host second quarter 2013 earnings conference call

PetSmart, Inc. will release its results for the second quarter 2013 before market opens on Wednesday, August 21, 2013. Additionally, the company will host a conference call the same day beginning at 10 a.m. (EDT), to discuss the results of the quarter.

To listen to the live call: 
Within the United States and Canada: (866) 219-5631
Internationally: (703) 639-1122
Conference ID #: 1621111

To access the replay: 
Within the United States and Canada: (888) 266-2081
Internationally: (703) 925-2533
Conference ID #: 1621111

The announcement will be archived at www.petm.com

Pethealth Inc. Announces Quarterly Results

The Company is hosting an investor conference call on Thursday, November 10th, 2011, at 10:00AM (EST) which can be accessed at 1-877-240-9772 or on-line at www.pethealthinc.com. For those unable to participate, a replay of the call will be available shortly after the call concludes on the Company's website at www.pethealthinc.com.

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CONSOLIDATED FINANCIAL

 HIGHLIGHTS:                             For three months ended

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('000)                           Sep 30, 2011     Sep 30, 2010     Change %

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Insurance Commissions and

 Fees                           $       5,466    $       5,784          (5)%

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Microchip Technology and Non-

 insurance Revenue                      2,852            2,397           19%

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Total Revenue                           8,318            8,181            2%

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Cost of Goods Sold                      1,461            1,337            9%

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Selling and marketing                   2,724            3,020         (10)%

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Administrative and general              3,252            3,279          (1)%

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Other income                                -                -            -

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Other expenses                            106              (16)         763%

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Total Expenses                          7,543            7,620          (1)%

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Results from operating

 activities                               775              561           38%

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Finance revenue                            15               14            7%

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Finance costs                              (5)             (37)          86%

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Profit before income tax                  785              538           46%

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 Income tax expense                        21              128         (84)%

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Net Income                                764              410           86%

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EPS - Basic (1)                          0.02             0.01          100%

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EPS - Diluted (1)                        0.02             0.01          100%

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EBITDA (2)                              1,239              984           26%

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Adjusted EBITDA (3)                     1,269              929           37%

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Gross Premiums Earned by

 Carriers                              14,289           15,367          (7)%

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(1) Basic and diluted earnings per share are adjusted to reflect the

    dividend payments made during the first quarter of 2011 and 2010. For

    the quarter ended September 30, 2011 the Company had weighted average

    basic common shares of 32,513,568 (2010 - 32,505,235) and fully diluted

    common shares of 37,515,527 (2010 - 37,484,539).

(2) The Company believes the presentation of EBITDA is a useful means of

    providing investors with additional information in reviewing and

    analyzing the Company's operating results. EBITDA is considered to be a

    non-IFRS earnings measure and does not have any standardized meaning

    prescribed by IFRS. It is, therefore, unlikely to be comparable to

    similar measures presented by other issuers. EBITDA is net income

    adjusted for interest, taxes and amortization.

(3) The Company believes the presentation of Adjusted EBITDA is a useful

    means of providing investors with additional information in reviewing

    and analyzing the Company's operating results. Adjusted EBITDA is

    considered to be a non-IFRS earnings measure and does not have any

    standardized meaning prescribed by IFRS. It is, therefore, unlikely to

    be comparable to similar measures presented by other issuers. Adjusted

    EBITDA is EBITDA adjusted for stock option and equity-based compensation

    expense and non-cash translation gains and losses associated with the

    Company's U.S. denominated debt.

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CONSOLIDATEDFINANCIAL

 HIGHLIGHTS:                              For nine months ended

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('000)                           Sep 30, 2011     Sep 30, 2010     Change %

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Insurance Commissions and

 Fees                           $      16,399    $      17,798          (8)%

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Microchip Technology and Non-

 insurance Revenue                      8,047            6,593           22%

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Total Revenue                          24,446           24,391          0.2%

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Cost of Goods Sold                      4,088            3,481           17%

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Selling and marketing                   7,928            9,680         (18)%

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Administrative and general             10,077            9,710            4%

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Other income                                -                -            -

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Other expenses                            147               36          308%

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Total Expenses                         22,240           22,907          (3)%

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Results from operating

 activities                             2,206            1,484           49%

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Finance revenue                            55               41           34%

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Finance costs                             (25)            (134)          81%

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Profit before income tax                2,236            1,391           61%

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 Income tax expense                       315             (284)         211%

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Net Income                              1,921            1,675           15%

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EPS - Basic (1)                          0.04             0.03           33%

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EPS - Diluted (1)                        0.04             0.03           33%

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EBITDA (2)                              3,600            2,747           31%

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Adjusted EBITDA (3)                     3,647            2,735           33%