Miscellaneous Notes 3.18.16

IDEXX 2016 Shareholder Letter CEO Andrew Silvernail

Values are our foundation

“Our culture is to win as a team in a high performance environment where people are inveted to do and be their best every day. Our values are the foundation of our culture and guide our decisions and actions.”


Sherwin Williams 2016 Shareholder Letter CEO Christopher Connor

The world looks different than in December

“In many respects the world looks different today than it did just a few short months ago when the Federal Reserve Bank took its first step toward interest rate normalization. In most advanced economies a modest choppy recovery is expected to continue.”


JA Solar Holdings’ (JASO) Q4 2015 Results Jian Xie — President

Solar shipments are heading to countries throughout Asia

“By geography, Asia continued to drive our growth, but we are seeing traction in new regions. Asia was over 80% of shipment, a dominant number but down from over 90% in Q3. China declined from over 50% of shipments to 44% as other Asia-Pacific regions grew. For instance, we shipped 180 megawatts into the Philippines, a demonstration of our dominant position in the market. We are also growing in other regions in the regions such as Thailand, India, and Australia. ”


FactSet Research Systems’ (FDS) CEO Phil Snow on Q2 2016 Results

Scott Miller

Haven’t seen a dramatic shift in spending

“Not dramatically different than we had seen in the previous quarters. We are – clearly as we’ve said over the last couple of questions, market volatility gets people thinking and pausing a little bit but we haven’t seen a dramatic shift in the spending. When you do see markets go the way they did, in many cases, there is a requirement for more analytics and more data. So we are approaching it from a proactive standpoint and we haven’t really seen a dramatic shift in spending.”


CLARCOR’s (CLC) CEO Chris Conway on Q1 2016 Results

David Fallon

Sales into ag and natural gas didn’t decline as much as expected

“Better than expected financial performance was assisted by higher than expected sales of fuel filtration products into the Ag and construction equipment markets. Although sales in these markets declined 17% from last year’s first quarter, we as we discussed in our January call, had expected sales to drop 25% to 30%. In addition, although sales in our natural gas filtration market declined 12% from last year’s first quarter, we had expected sales to decline 20% to 25%.”


Jeremy’s Miscellaneous Notes


Former GE CEO Jack Welch said the economy is improving

“Today, as I sit here, I’ve spent the last few days at Private Equity firm Clayton Dubilier & Rice, looking at 6 businesses, things are looking up.  It’s clearly a pocket of change, particularly in the last couple of weeks in February and the first couple of weeks in March.  It’s that recent.  It feels a lot better, there’s just no question about it.”

And he says consumers are leading this rebound in economic strength

“We know the consumer has more money now, whether it’s gas prices or employment levels.  You’re getting strength in autos, you’re getting real strength in housing.  And the housing sector spills off into so many businesses.”

Source: Video Interview http://www.dataroma.com/m/art.php?id=4705


JA Solar 1Q13 Earnings Call Notes

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“It’s a real top time for the solar industry. We are encouraged by our solid performance in the first quarter as shipments exceeded the high end of our previous guidance, and that we achieved positive gross margin”

“Shipments for the quarter were 442.7 megawatt, above the high end of our previous guidance of 430 megawatt. This was driven by a stronger performance across key markets, most notably in Japan…We had a strong quarter in Japan in Q1. In the past several quarters, we have been working diligently to deepen our process in the market and have built a solid position there. This allowed us to benefit immensely from an increased efficiency activity in the quarter. In fact, our Japan shipments in Q1 alone were greater than our shipment there for the whole of our 2012. Going forward, we will continue to work closely with our partners in Japan to capitalize on their growing demand for solar energy there.”

“Gross margin was a positive 6% for the quarter, which was encouraging.”

“Europe accounted for 27 of our total shipment in this quarter”

“In Q1, the geographic breakdown of the shipments including modules, cells and tolling was approximately 39% in China, 33.6% to APAC, 26.8% to Europe and the rest of the world accounted for only 0.6%”