LONDON, UK / ACCESSWIRE / June 30, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on The Kroger Co. (NYSE: KR), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=KR, following the Company’s disclosure of its first quarter fiscal 2017 earnings results on June 15, 2017. The grocery store chain surpassed revenue estimates and met earnings expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at: http://protraderdaily.com/register/.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on KR. With the links below you can directly download the report of your stock of interest free of charge at: http://protraderdaily.com/optin/?symbol=KR.

Earnings Reviewed

For the first three months ended May 20, 2017, Kroger’s total sales increased 4.9% to $36.29 billion compared to $34.60 billion in Q1 2016, driven by the recent merger of ModernHEALTH. The Company’s total sales, excluding fuel, increased 2.9% on a y-o-y basis. The Company’s sales numbers were ahead of analysts’ expectations of $35.6 billion.

During Q1 2017, the Company’s gross margin was 22.1% of sales. Excluding fuel, ModernHEALTH, and the LIFO charge, Kroger’s gross margin decreased 45 basis points from the same period last year. The Company recorded $25 million LIFO charge in Q1 2017 compared to a $15 million LIFO charge in Q1 2016.

For the reported quarter, Kroger’s operating, general, and administrative costs as a rate of sales, excluding fuel, ModernHEALTH, and the 2017 adjustment items, increased 27 basis points from Q1 2016. The Company’s FIFO operating margin on a rolling four quarters basis dropped 41 basis points compared to the prior year.

Kroger’s net income for Q1 2017 was $303 million, or $0.32 per diluted share, compared to $696 million, or $0.71 per diluted share, in Q1 2016. The Company’s earnings per diluted share included charges related to the withdrawal liability for certain multi-employer pension funds and a Voluntary Retirement Offering. Excluding the effect of these charges, Kroger’s adjusted net earnings were $546 million, or $0.58 per diluted share, matching Wall Street’s expectations for earnings of $0.58 per share.

Balance Sheet

For the reported quarter, the Company’s net total debt to adjusted EBITDA ratio increased to 2.33 compared to 2.12 during the same period last year. This result was due to the merger with ModernHEALTH and the repurchase of shares. The Company’s return on invested capital for the first quarter, on a rolling four quarter basis, was 12.75%.

On June 22, 2017, Kroger announced that its Board of Directors authorized an incremental $1 billion share repurchase program. The Company’s Board also approved a dividend increase from $0.48 to $0.50 on an annualized basis. The next quarterly dividend of $0.125 per share will be payable on September 01, 2017, to shareholders of record at the close of business on August 15, 2017. The Company noted that its quarterly dividend has grown at a compound annual growth rate of 13.0% since it was reinstated in 2006.

Outlook

Kroger continues to expect identical supermarket sales growth, excluding fuel, of flat to 1% growth for 2017.

Kroger lowered its FY17 GAAP net earnings guidance to the range of $1.74-$1.79 per diluted share. The Company’s adjusted net earnings guidance range is expected in the band of $2.00 to $2.05 per diluted share compared to the previous adjusted net earnings guidance range of $2.21 to $2.25 per diluted share. Kroger continues to expect capital investments excluding mergers, acquisitions, and purchases of leased facilities, to be in the $3.2 billion to $3.5 billion range for FY17.

Stock Performance

At the close of trading session on Thursday, June 29, 2017, Kroger’s stock price slightly declined 0.47% to end the day at $23.24. A total volume of 15.26 million shares were exchanged during the session, which was above the 3-month average volume of 12.98 million shares. The Company’s shares are trading at a PE ratio of 13.99 and have a dividend yield of 2.07%. At Thursday’s closing price, the stock’s net capitalization stands at $21.03 billion.

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SOURCE: Pro-Trader Daily

ReleaseID: 467199

LONDON, UK / ACCESSWIRE / June 30, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Yingli Green Energy Holding Co. Ltd (NYSE: YGE), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=YGE, following the Company’s announcement of its financial results for the first quarter fiscal 2017 (Q1 FY17) on June 15, 2017. The Baoding, China-based Company’s total revenues and gross profit declined on a year-over-year basis during the reported quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at: http://protraderdaily.com/register/.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on YGE. With the links below you can directly download the report of your stock of interest free of charge at: http://protraderdaily.com/optin/?symbol=YGE.

Earnings Reviewed

In Q1 FY17, Yingli Green Energy reported total net revenues of RMB1.24 billion ($179.90 million) compared to RMB2.35 billion recorded at the end of Q1 FY16. Total net revenues numbers for the reported quarter lagged behind market expectations of $186 million. Moreover, the year-over-year decrease in total net revenues was primarily attributed to the decrease of PV module shipment.

The solar power Company reported a net loss attributable to attributable to Yingli Green Energy of RMB184.45 million ($26.80 million) in Q1 FY17 against net income attributable to Yingli Green Energy of RMB79.57 million in Q1 FY16. Non-GAAP net loss for Q1 FY17 came in at RMB191.85 million ($27.87 million) versus non-GAAP net income of RMB73.25 million in Q1 FY16. Furthermore, the Company reported non-GAAP diluted loss per share of RMB1.06 ($0.15) in Q1 FY17 compared to non-GAAP diluted EPS of RMB0.40 in Q1 FY16. Moreover, loss per American Depositary Share (ADS) represented by ten ordinary shares during Q1 FY17 was $1.50 compared to Wall Street’s estimated loss per diluted ADS of $2.27.

Operating Metrics

Yingli Green Energy’s gross profit declined during Q1 FY17 to RMB61.54 million ($8.94 million) from RMB469.28 million in the past year’s comparable quarter. The Company attributed the year-over-year fall in gross profit to a decline in the selling price of the Company’s PV module in Q1 FY17. Meanwhile, gross margin for Q1 FY17 was 5.0%, compared to 20.0% in the year ago same quarter.

The Company’s total operating expenses during Q1 FY17 was RMB165.06 million ($23.98 million), down from RMB282.84 million in the prior year’s same quarter. The Company reported a loss from operations of RMB103.52 million ($15.04 million) during Q1 FY17 versus income from operations of RMB186.45 million in the last year’s same quarter.

For the reported quarter, the Company’s EBITDA came in at RMB101.30 million ($14.72 million) compared to RMB483.10 million in Q1 FY16. Furthermore, total solar module shipments declined during Q1 FY17 to 370.9 MW, from 508.1 MW in Q1 FY16.

Balance Sheet

Yingli Green Energy had cash and cash equivalent balance of RMB791.55 million ($115.00 million) as of March 31, 2017, compared to RMB891.02 million, at the close of books on March 31, 2016. The Company’s long-term borrowing as on March 31, 2017 stood at RMB2.49 billion ($361.92 million) versus RMB2.35 billion as on March 31, 2016. Furthermore, inventories balance as on March 31, 2017, was RMB1.55 billion ($225.58 million), compared to RMB1.42 billion as of March 31, 2016.

Outlook

In its guidance for Q2 FY17, Yingli Green Energy expects total solar module shipments to be in the range of 950 MW to 1,050 MW.

Stock Performance

On Thursday, June 29, 2017, the stock closed the trading session at $2.28, marginally falling 0.87% from its previous closing price of $2.30. A total volume of 23.84 thousand shares have exchanged hands. Yingli Green Energy’s stock price advanced 8.57% in the last one month and 2.70% in the past three months. The stock currently has a market cap of $39.33 million.

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Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

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PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

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ReleaseID: 467191

Plans to Enter Nevada, Oregon, and California Cannabis Markets

BOULDER, CO / ACCESSWIRE / June 30, 2017 / CLS Holdings USA, Inc. (OTCQB: CLSH) (“CLS Holdings” or the “Company,”) a diversified cannabis company operating as Cannabis Life Sciences, announced today that it has entered into a non-binding letter of intent with privately owned Pure Harvest Cannabis Producers, Inc. of Las Vegas, Nevada.

Pure Harvest (www.PureHarvestCannabis.com) is a science-based medical cannabis company led by a team of respected veterans in business and in the cannabis industry. Pure Harvest plans to become a licensed vertically integrated cannabis business involved in all aspects of the cannabis cycle including plant science, cultivation, production, medical and recreational dispensaries, and delivery.

Pure Harvest intends to accomplish this through an active acquisition strategy combined with greenfield development. Pure Harvest has recently signed non-binding letters of intent to acquire two high potential cannabis verticals that operate in Nevada. The CEO of Pure Harvest, David Lamadrid, is expected to join CLS Holdings as the new CEO if and when the transaction is closed.

Upon closing, CLS Holdings is expected to relocate to Las Vegas, Nevada and change its name to “Pure Harvest Cannabis Group, Inc.” The letter of intent is subject to a number of conditions and contingencies, including due diligence to be performed by both parties.

Jeffery Binder, the Chairman of CLS Holdings, who is expected to remain on the combined company’s board of directors stated, “We have been seeking a value add transaction with a company involved in the production and/or distribution of cannabis and are pleased and excited about the potential the Pure Harvest transaction offers our shareholders. We believe that Pure Harvest has an experienced team with strong potential to emerge as one of the most dominant cannabis operators in the Western US.”

About Pure Harvest Cannabis Producers, Inc.:

Pure Harvest is an emerging privately owned development-stage company formed to become a licensed cannabis producer and distributor of high quality cannabis products to support patient wellness and healthy living. Initial target markets include Nevada, Oregon, and California. Pure Harvest has negotiated general business acquisition terms for two Nevada-based cannabis vertical operators under respective non-binding letters of intent. The founders and management team of Pure Harvest are veterans in business and the US cannabis industry with a combined 25 years of experience (www.PureHarvestCannabis.com).

About CLS Holdings:

CLS Holdings USA, Inc. (OTCQB: CLSH) plans to become a diversified cannabis company, specializing in the extraction and conversion of cannabinoids. CLS stands for “Cannabis Life Sciences,” in recognition of the Company’s patent pending proprietary method of extracting various cannabinoids from the marijuana plant and converting them into a higher quality and quantity of products. The Company’s business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services.

Forward-Looking Statements:

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements relate to anticipated future events, future results of operations or future financial performance. These forward-looking statements include, but are not limited to, statements relating to whether certain transactions will be completed, the terms of such transactions, the descriptions of the companies and the business that the target company could bring to CLS Holdings. In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “should,” “intends,” “expects,” “plans,” “goals,” “projects,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these terms or other comparable terminology.

These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements.

We cannot guarantee future results, levels of activity or performance and we cannot guaranty that the proposed transactions described in this press release will occur. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered together with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances or to reflect the occurrence of unanticipated events.

Contact Information

Corporate:
Chairman and CEO
Jeff Binder
jeff@clsholdingsinc.com
888-438-9132

Investors:
Hayden IR
Brett Maas, Managing Partner
brett@haydenir.com
646-536-7331

SOURCE: CLS Holdings USA, Inc.

ReleaseID: 467221

Research Desk Line-up: ModusLink Global Solutions Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 30, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on FedEx Corp. (NYSE: FDX), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=FDX, following the Company’s disclosure of its fourth quarter and fiscal 2017 financial results on June 21, 2017. The Air Delivery & Freight Services Company surpassed top- and bottom-line expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at: http://protraderdaily.com/register/.

Get more of our free earnings reports coverage from other constituents of the Air Delivery & Freight Services industry. Pro-TD has currently selected ModusLink Global Solutions, Inc. (NASDAQ: MLNK) for due-diligence and potential coverage as the Company announced on June 05, 2017, its financial results for Q3 FY17 which ended on April 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on ModusLink Global Solutions when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FDX; also brushing on MLNK. With the links below you can directly download the report of your stock of interest free of charge at:

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http://protraderdaily.com/optin/?symbol=MLNK

Earnings Reviewed

For the three months ended May 31, 2017, FedEx’s revenue totaled $15.73 billion compared to revenue of $13.0 billion in Q4 FY16. The Company’s operating results benefited from higher base rates, increased package volume, and the inclusion of TNT Express results. FedEx’s revenue numbers surpassed analysts’ consensus of $15.56 billion.

For FY17, FedEx’s revenues totaled $60.3 billion compared to revenue of $50.4 billion in FY16.

During Q4 FY17, FedEx’s reported operating income came in at $1.58 billion compared to operating loss of $68 million in Q4 FY16. The Company’s adjusted operating income totaled $1.76 billion compared to $1.51 billion in the prior year’s same quarter. FedEx’s operating margin for Q4 FY17 was 10.1% versus negative operating margin of 0.5% in Q4 FY16. The Company’s adjusted operating margin totaled 11.2% against 11.7% in the year ago comparable period.

FedEx’s net income came in at $1.02 billion, or $3.75 per diluted share, for Q4 FY17 compared to net loss of 70 million, or $0.26 per diluted share, in Q4 FY16. Net income and earnings per share reflected tax benefits of $104 million, or $0.37 per diluted share related to the implementation of new foreign currency tax regulations, the adoption of a new accounting standard for share-based compensation, and certain transactions related to the TNT integration. The Company’s adjusted earnings totaled $4.25 per share compared to $3.30 per diluted share in the year ago same period, handily beating Wall Street’s estimates of $3.89 per share.

For FY17, FedEx’s net income came in at $3.00 billion, or $11.07 per diluted share, compared to $1.82 billion, or $6.51 per diluted share, in Q4 FY16. The Company’s adjusted earnings totaled $12.30 per share compared to $10.8 per dilutes share in the year ago same period.

Segment Results

During Q4 FY17, the Company’s FedEx Express segment generated revenue of $7.18 billion, up 7% compared to $6.72 billion in Q4 FY16. The increase was attributed to higher package volume driven by international export growth of 5% and superior base rates. In the reported quarter, the segment achieved record operating profit of $863 million, while adjusted operating margin climbed to 12.7%.

For Q4 FY17, FedEx’s TNT segment reported revenues of $1.91 billion with an adjusted operating profit of $83 million. The segment’s adjusted operating margin was 4.4%. Adjustments to operating income for the reported quarter included integration and restructuring expenses of $37 million as well as intangible asset amortization of $20 million. FedEx noted that starting the upcoming quarter, the Company will no longer report Express and TNT separately. Instead, it will report the combined results as one FedEx Express segment.

FedEx’s Ground segment reported revenue of $4.68 billion up 9% compared to revenue of $4.29 billion in Q4 FY16. Revenue increased primarily due to higher base rates and average daily package volume growth of 3%. The segment’s operating income grew 7% to $702 million while its operating margin was 15% in the reported quarter. The growth in operating income was attributed to higher yields and volume, partially offset by network expansion and staffing costs as well as increased self-insurance reserves.

During Q4 FY17, FedEx’s Freight segment’s revenue grew 6% on a y-o-y basis to $1.70 billion compared to revenue of $1.61 billion in Q4 FY16. Revenue increased primarily due to higher base rates and average daily package volume growth of 3%. The segment’s operating margin declined 0.7% on a y-o-y basis to 7.8%, due to higher salaries and wages and increased information technology expenses that offset the benefit from the higher base rates.

Outlook

FedEx stated that is unable to forecast fiscal 2018 year-end MTM pension accounting adjustments. As a result, the Company is unable to provide GAAP earnings guidance for FY18.

Before year-end MTM pension accounting adjustments, FedEx’s earnings are projected to be $12.45 to $13.25 per diluted share. The Company’s capital spending for fiscal 2018 is expected to be approximately $5.9 billion, which includes an increase in planned aircraft deliveries to support the FedEx Express fleet modernization program and continued investments in FedEx Ground automation and capacity expansion, including projects deferred from FY17.

FedEx noted that it is targeting operating income improvement at the new FedEx Express segment of $1.2 billion to $1.5 billion in FY20 versus FY17 assuming moderate economic growth as well as current accounting and tax rules.

Cash Matters

During FY17, FedEx’s capital expenditures were $5.1 billion, and several Ground network expansion projects were deferred into FY18 and beyond. The Company repurchased nearly 3 million shares in FY17 at an average price of $172.13. As of May 31, 2017, FedEx had approximately 16 million remaining shares authorized for repurchase.

Stock Performance

FedEx’s share price finished yesterday’s trading session at $215.23, slightly down 0.88%. A total volume of 1.57 million shares have exchanged hands. The Company’s stock price soared 10.85% in the last three months, 14.21% in the past six months, and 43.24% in the previous twelve months. Additionally, the stock surged 15.59% since the start of the year. Shares of the Company have a PE ratio of 19.41 and have a dividend yield of 0.93%. The stock currently has a market cap of $57.73 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 467205

LONDON, UK / ACCESSWIRE / June 30, 2017 / Pro-Trader Daily takes a closer look at Erie Indemnity Co. (NASDAQ: ERIE) as the Company’s stock will begin trading ex-dividend on July 03, 2017. In order to capture the dividend payout, investors must purchase the stock one day prior (excluding weekend) to the ex-dividend date that is by latest end of the trading session on June 30, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at: http://protraderdaily.com/register/.

Today, PRO-TD covers ex-dividend news on ERIE. Get our free coverage by signing up at: http://protraderdaily.com/optin/?symbol=ERIE.

Dividend Declared

As per the Company’s data on April 25, 2017, Erie Indemnity announced that its Board of Directors has declared a quarterly cash dividend of Class A of $0.7825 and Class B of $117.375 per outstanding share of common stock. The dividend is payable on July 20, 2017, to shareholders of record as of the close of business on July 06, 2017.

Erie Indemnity’s indicated dividend represents a yield of 2.48% compared to the average dividend yield for the financial sector of 3.18%. The Company has increased its dividend consecutively for the past 21 years.

Dividend Insights

Erie Indemnity has a dividend payout ratio of 76.7% which reflects that the Company distributes approximately $0.77 for every $1.00 earned. The dividend payout ratio reflects how much money a Company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, or to add to its cash reserves.

According to analysts’ estimates, Erie Indemnity is expected to report earnings of $4.24 in the coming year, which again comfortably covers the Company’s annualized dividend of $3.13.

As on March 31, 2017, Erie Indemnity had cash and cash equivalents worth $110.42 million and its current assets totaling $625.72 million, while current liabilities were $665 million. Having a liquidity pool allows the Company to absorb any fluctuations in earnings and pay its dividend without interruption.

About the Company

Erie Insurance Group, based in Erie, Pennsylvania, is the 10th largest homeowners insurer and 12th largest automobile insurer in the United States based on direct premiums written and the 15th largest property/casualty insurer in the United States based on total lines net premium written. The Group has more than 5 million policies in force and operates in 12 states and the District of Columbia. Erie Insurance Group is a FORTUNE 500 Company.

Recent Development for Erie Insurance

On May 04, 2017, Erie Insurance announced the appointment of Cody Cook as senior vice president, Personal Products. Cook started with ERIE in 2003 in the Actuarial Division, where he spent seven years before being promoted to supervisor of the Pricing and Modeling Section in 2009. For the past seven years, he has served as the private passenger auto vice president and product manager.

Under Cook’s leadership, Erie Insurance has evolved its auto insurance product offerings to meet changing customer needs including helping to develop ERIE Rate Lock®, a feature that protects insurance rates from going up even after a claim until the customer removes a vehicle or adds or removes a driver from the policy, or changes addresses.

Stock Performance

At the closing bell, on Thursday, June 29, 2017, Erie Indemnity’s stock fell 1.27%, ending the trading session at $124.86. A total volume of 26.75 thousand shares have exchanged hands. The Company’s stock price surged 2.87% in the last three months, 10.91% in the past six months, and 27.66% in the previous twelve months. Moreover, the stock rallied 11.04% since the start of the year. The stock is trading at a PE ratio of 30.81 and has a dividend yield of 2.51%. The stock currently has a market cap of $6.57 billion.

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The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

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Research Desk Line-up: Calavo Growers Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 30, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Fresh Del Monte Produce Inc. (NYSE: FDP), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=FDP. Del Monte Pacific Limited and Fresh Del Monte Produce Inc. announced on June 27, 2017, a series of joint ventures (JVs) between the two Companies that would result in expansion of refrigerated offerings sold across all distribution and sales channels. The Companies additionally announced a new retail food and beverage concept modeled after the successful launch of Fresh Del Monte Produce Business in the Middle East. Del Monte Pacific Ltd is 67%-owned by NutriAsia Pacific Ltd and Bluebell Group Holdings, Ltd, which are beneficially-owned by the Campos family of Philippines. For immediate access to our complimentary reports, including today’s coverage, register for free now at: http://protraderdaily.com/register/.

Discover more of our free reports coverage from other companies within the Farm Products industry. Pro-TD has currently selected Calavo Growers, Inc. (NASDAQ: CVGW) for due-diligence and potential coverage as the Company reported on June 06, 2017, its record Q2 FY17 operating results, with virtually all key metrics reaching new all-time, single-period highs. Tune in to our site to register for a free membership, and be among the early birds that get our report on Calavo Growers when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FDP; also brushing on CVGW. Go directly to your stock of interest and access today’s free coverage at:

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The Announcement

The JVs between the two Companies follow the full and final settlement of all active litigations and disputes between Del Monte Pacific Limited, and its subsidiary, Del Monte Foods, Inc., on one hand, and Fresh Del Monte Produce, Inc., on the other hand. The long-standing dispute between the two Companies was regarding the licensing rights and product distribution in different territories and markets around the world.

Fresh Del Monte Produce views this agreement as a step to innovate on a much broader and deeper scale than each firm can achieve individually. A major joint initiative is the introduction of Del Monte branded retail outlets, featuring an assortment of nutritious foods and beverages to meet the elevating demand of consumers for healthier food options. The Companies additionally announced that they will collaborate on several product developments, including an assortment of chilled juices, different varieties of prepared refrigerated fruit snacks and guacamole and avocado products.

The Companies

In the year 1989, America’s Del Monte Corp. divested into two entities, namely, Del Monte Tropical Fruit and Del Monte Foods, where Del Monte Tropical Fruit was renamed to Fresh Del Monte Produce, and was eventually acquired by Abu-Ghazaleh’s group. Post the acquisition by the Group, Fresh Del Monte Produce has grown to become one of the world’s leading vertically integrated producers, marketers, and distributors of fresh and fresh-cut fruits and vegetables, and a leading producer and distributor of ready-to-eat food in Europe, Africa, Middle-East, and countries, which were formerly, the part of the Soviet Union.

Del Monte Pacific Limited, on the other hand, is owned by the Campos family and traces its roots to the business originally set up by Del Monte Corp. in the Philippines in 1926. The Campos family’s NutriAsia, Ltd acquired a controlling stake in the Company in 2006. A major initiative under the joint venture will be the launch of Del Monte branded retail outlets in the US, which will sell an assortment of fresh food and beverages.

This collaboration enables each partner of the venture to share expertise and optimize economies of scale in product development, operations, sourcing, supply chain, marketing, and distribution. Additionally, along with new retail and product ventures, the Companies have also agreed to a long-term mutual supply agreement to boost the expansion of the Del Monte flagship and product sales in different markets around the world.

Last Close Stock Review

On Thursday, June 29, 2017, Fresh Del Monte Produce’s stock closed the trading session at $50.20, marginally down 0.81% from its previous closing price of $50.61. A total volume of 180.60 thousand shares were exchanged during the session. Shares of the Company have a PE ratio of 13.69 and have a dividend yield of 1.20%. The stock currently has a market cap of $2.59 billion.

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NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

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ReleaseID: 467198

Research Desk Line-up: Darden Restaurants Post Earnings Coverage

LONDON, UK, ACCESSWIRE / June 30, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Bob Evans Farms, Inc. (NASDAQ: BOBE), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=BOBE, following the Company’s release of its financial results for the fourth quarter fiscal 2017 (Q4 FY17) and full fiscal 2017 (FY17) on June 15, 2017. The New Albany, Ohio-based Company’s non-GAAP diluted EPS grew on year-over-year basis; outperforming market expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at: http://protraderdaily.com/register/.

Get more of our free earnings reports coverage from other constituents of the Restaurants industry. Pro-TD has currently selected Darden Restaurants, Inc. (NYSE: DRI) for due-diligence and potential coverage as the Company reported on June 27, 2017, its financial results for Q4 FY17 and full year FY17 which ended on May 28, 2017. Register for a free membership today, and be among the early birds that get access to our report on Darden Restaurants when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on BOBE; also brushing on DRI. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

Bob Evans Farms reported net sales continuing operations of $99.92 million in Q4 FY17, which came in below $102.39 million recorded in Q4 FY16. Net sales also fell short of market forecasts of $104.15 million. However, excluding the 14th week benefit in the prior year’s same period, net sales from continuing operations increased 4.9% y-o-y in the 13-week period of the reported period.

The producer and distributor of refrigerated and frozen convenience food reported a GAAP net income from continuing operations of $6.76 million, or $0.33 per diluted share, in Q4 FY17 compared to $5.93 million, or $0.30 per diluted share, in the previous year’s corresponding quarter. The Company’s non-GAAP net income increased during Q4 FY17 to $12.22 million, or $0.61 per diluted share, from $9.53 million, or $0.48 per diluted share, in the prior year’s comparable quarter. Meanwhile, Wall Street had expected the Company to report adjusted net income of $0.42 per diluted share.

During FY17, the Company’s net sales from continuing operations grew 1.9% y-o-y to $394.84 million from $387.62 million in FY16. Excluding the 53rd week during FY16, net sales from continuing operations increased 3.8% in FY17. The Company’s FY17 net income from continuing operations improved to $17.04 million, or $0.85 per diluted share, from $16.21 million, or $0.75 per diluted share, in FY16. The Company’s full year FY17’s non-GAAP net income came in at $47.95 million, or $2.38 per diluted share, up from $43.37 million, or $2.02 per diluted share, in FY16.

Operating Metrics

In Q4 FY17, Bob Evans Farms cost sales were $43.65 million versus $44.81 million in the last year’s same quarter. Selling, general, and administrative expenses increased to $17.06 million in Q4 FY17 from $16.44 million in Q4 FY16. The Company’s non-GAAP operating income improved during Q4 FY17 to $13.84 million, or 13.9% of net sales from $11.31 million, or 11.0% of net sales, in Q4 FY16.

Cash Matters

Cash flow from operation fell to $73.56 million in FY17 from $123.64 million in FY16. Bob Evans Farms had cash and cash equivalents worth $210.89 million at the close of its books on April 28, 2017, compared to $11.61 million as on April 29, 2016.

Sale of Business and Acquisition

On April 28, 2017, the Company completed the sale of Bob Evans restaurants to Golden Gate Capital for $565 million. Net proceeds from the sales are expected to be in the range of $475 million to $485 million. The Company also announced that it had completed the acquisition of Pineland Farms Potato Company for $115 million.

Outlook

In its guidance for full-year FY18, Bob Evans Farms forecasts net sales to be in the range of $464 million to $476 million. EBITDA during FY18 is expected to be between $102 million to $108 million. The Company anticipated GAAP diluted earnings during FY18 to be in the range $2.06 per share to $2.24 per share. Furthermore, the Company has share repurchase authorization of $100 million through calendar 2017.

Stock Performance

On Thursday, June 29, 2017, the stock closed the trading session at $71.74, climbing 1.82% from its previous closing price of $70.46. A total volume of 317.42 thousand shares have exchanged hands. Bob Evans Farms’ stock price skyrocketed 23.33% in the last three months, 48.91% in the past six months, and 109.00% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 49.80%. The stock is trading at a PE ratio of 85.00 and has a dividend yield of 1.90%. At Thursday’s closing price, the stock’s net capitalization stands at $1.42 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

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PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

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For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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ReleaseID: 467204

LONDON, UK / ACCESSWIRE / June 30, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Engility Holdings, Inc. (NYSE: EGL), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=EGL. The Company announced on June 28, 2017, that it has won a $119 million contract with the U.S. Army’s Logistics Modernization Program, where as part of the Contract, Engility will support the LMP to deliver advanced process automation, streamlined operations, and improved logistics. The LMP system currently finds its application in more than 30,000 users at more than 50 Army and DOD locations and interfaces in more than 80 DOD systems. For immediate access to our complimentary reports, including today’s coverage, register for free now at: http://protraderdaily.com/register/.

Discover more of our free reports coverage from other companies within the Staffing & Outsourcing Services industry. Pro-TD has currently selected Paychex, Inc. (NASDAQ: PAYX) for due-diligence and potential coverage as the Company announced on June 28, 2017, its results of operations for Q4 FY17 and full year FY17 which ended on May 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Paychex when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on EGL; also brushing on PAYX. Go directly to your stock of interest and access today’s free coverage at:

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The LMP Mission

The LMP Mission, according to the Company is to sustain, monitor, measure, and improve the modernized national-level logistics Enterprise Resource Planning solution to deliver new and enhanced capabilities via planned increments and to support DOD and Army ERP Integration efforts. Post this announcement, Engility will deliver subject matter expertise and administrative support with program and product management, along with technical expertise, where it has been collaborating with the Program since 1999.

Lynn Dugle, CEO of Engility, stated that mission readiness is an important aspect and the LMP program plays a key role in ensuring that the forces are supported by the most advanced logistics and operations technologies possible. According to the Company, the cost-plus-fixed-fee-contract for new and existing work, awarded in Q2 FY17 has a three-year base and a two-year option.

The DTRA Contract

On May 03, 2017, Engility announced that it has been awarded a $35 million contract to deliver specialized advisory services to the Defense Threat Reduction Agency’s Nuclear Enterprise Support Directorate. The Q1 FY17 win represented a recomplete of existing work, with the cost plus fixed fee contract, that has a one-year base and four option years.

According to the Company, over the past four years, the DTRA has relied on Engility and its team to support their vital mission of nuclear defense. This contract is viewed as a testimony of Engility’s solid work in helping the agency execute the nation’s nuclear strategies. The contract includes delivering modeling and simulation, nuclear and countering weapons of mass destruction exercises, and highly specialized subject matter expertise. The Company will also perform nuclear safety, surety, security, accountability, and reliability activities, including mission assurance assessments, training, information technology services, and acquisition and program management support.

The DoD Contract

Prior to the Logistics Modernization Program announcement, Engility won a $16.2 million contract to support the Office of the Deputy Assistant Secretary of Defense, Systems Engineering, in its mission to help standardize and improve DOD’s systems engineering capabilities, according to the announcement made on June 21, 2017.

Under the contract, Engility will deliver support DASD in managing all DOD programs related to systems engineering, and helping to keep major systems on schedule, while maintaining the budgetary limits. This Q2 FY17 contract represented new work with the DASD, an office within DOD that Engility has partnered with, for over a decade. The cost plus fixed-fee contract had a one-year base with four option years.

Last Close Stock Review

On Thursday, June 29, 2017, the stock closed the trading session at $27.96, marginally up 0.39% from its previous closing price of $27.85. A total volume of 99.43 thousand shares have exchanged hands. Engility’s stock price soared 6.19% in the last one month and 34.17% in the previous twelve months. The stock currently has a market cap of $1.03 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst. for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

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ReleaseID: 467197

LONDON, UK / ACCESSWIRE / June 30, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for 8×8, Inc. (NASDAQ: EGHT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=EGHT. The Company announced on June 28, 2017, that it will partner with Softchoice, a leading North American provider of IT solutions and managed services, to bring integrated, enterprise-grade cloud communications, contact center, and team collaboration solutions to midmarket and enterprise firms. Post this announcement, Softchoice will expand its cloud portfolio by selling 8X8’s industry-leading solutions and services in the United States and Canada. For immediate access to our complimentary reports, including today’s coverage, register for free now at: http://protraderdaily.com/register/.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on EGHT. Go directly to your stock of interest and access today’s free coverage at: http://protraderdaily.com/optin/?symbol=EGHT.

The Announcement

This collaboration between 8X8 and Softchoice highlights the joint focus to deliver the best-quality technology solutions and resources that may assist midmarket and enterprise firms, quickly solve their critical business needs, and eventually, accelerate revenue growth. According to Softchoice, the cloud provides Companies of all sizes with immense opportunity to increase productivity and profitability through improved business communication and collaboration. Softchoice finds 8X8’s offerings complementary to its portfolio and believes that working closely with 8X8 will enable its clients to unleash the potential of their employees and business.

8X8 views this agreement as a step to utilize Softchoice’s extensive scale, reach, and expertise in North America. Currently, with over 1,600 employees, Softchoice manages the technology needs of thousands of corporate and public sector organizations across the United States and Canada. 8X8 plans to deliver the best possible technology solutions at minimal ownership costs. The Company plans to work with Softchoice to manage some of the biggest enterprise collaboration and communications challenges viewed by the current business infrastructure.

Azure-8X8 Collaboration

8X8 is the provider of the world’s first Communications Cloud that combines unified communications, team collaboration, contact center, and analytics, under one single, open, and real-time platform. On June 05, 2017, Azure, the leading European vacation ownership specialist, selected 8X8 to replace its communications platform with integrated, enterprise-grade cloud solutions, namely 8X8 Virtual Office and 8X8 Virtual Contact Center.

Through this agreement, Azure planned to develop customer service solutions in its Malta-based head office, where the Company’s growing UK and Scandinavian membership is supported. This demand for 8X8’s cloud portfolio came on the heels of Azure’s planned expansion to boost its member base in Europe to include Germany, Norway, and Italy. Azure needed a robust communications platform that would allow it to scale its business rapidly, where the 8X8’s innovative communications cloud solutions fulfilled both requirements. The two-stage implementation is set to be completed by the end of 2017.

Other Agreements

The Company reported its full-year FY17 results, on May 25, 2017, with total service revenue of $235.8 million, a 23% increase YOY from full-year FY16. Also, the Company’s net cash generated from operating activities was $28 million in FY17 for the period ended March 31, 2017, against $24 million in FY16.

Prior to the Azure agreement, 8X8 announced on May 31, 2017, that Jenne, Inc., a leading value-added distributor of technology products and solutions, focusing on voice, video, data, networking, premise security and the cloud, has signed an agreement with the Company, pursuant to which Jenne will bring 8×8’s integrated, enterprise-grade cloud communications, contact center, and team collaboration solutions to mid-market and enterprise companies through a value-added distribution model.

Last Close Stock Review

On Thursday, June 29, 2017, the stock closed the trading session at $14.45, dropping 3.99% from its previous closing price of $15.05. A total volume of 465.34 thousand shares have exchanged hands. 8×8, Inc.’s stock price surged 5.86% in the last one month, 2.12% in the past six months, and 2.26% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 1.05%. The stock currently has a market cap of $1.32 billion.

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