B/E Aerospace Record Second Quarter 2014 Financial Results Exceed Expectations; Second Quarter Revenues of $1.1 Billion up 28%; EPS of $1.13, Excluding Items, Up 27% – Yahoo Finance
Power study Porsche also ranked highest among all nameplates in the 2014 J.D. Power Initial Quality Study. The J.D. Power ‘APEAL’ study measures the attitudes of more than 86,000 U.S. customers who purchased or leased a new 2014 model-year vehicle between November 2013 and February 2014. Questions are designed to evaluate ten categories of vehicle performance and design: exterior and interior styling, storage and space, audio/communication/entertainment/navigation (ACEN), seats, heating, ventilation, and air conditioning (HVAC), driving dynamics, engine/transmission, visibility and safety, and fuel economy. Porsche earned 882 points on the 1,000-point scale, compared to the premium industry average of 840.
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UDG Completing Four Entertainment Complexes Featuring Both Casinos and Horse Racing
Located in Austintown, Ohio, the $91 million (construction-related cost) entertainment complex sits on a 195-acre site and includes up to 1,200 VLTs, entertainment bar, sports bar, and a food court with three venues. Designed using Penn National Gamings Hollywood theme which complements the art deco style of the Golden Age of Hollywood, the facility features a 1-mile thoroughbred track for daytime racing with 547 clubhouse seats, 454 trackside seats, 1,000 year-round horse stalls, and a dormitory for the groomsmen. UDG was commissioned to provide master planning, programming, architectural design, back-of-house interior design, construction management, and coordination of interior theming services. Zia Park Hotel will become the new entry feature to the existing Zia Park Racetrack and Casino facility in Hobbs, New Mexico.
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As of June 30, 2014, cash was $216.5 million, net debt, which represents total long-term debt of $2.6 billion less cash, was $2.4 billion, and the Company’s net debt-to-net capital ratio was 45.7 percent. During the quarter the Company increased its revolving credit facility by $450 million to $1.4 billion of which approximately $668 million was drawn. BOOKINGS/BACKLOG Bookings during the second quarter of 2014 were approximately $1.06 billion, an increase of approximately 20 percent as compared with the prior year period. Bookings for the first six months of 2014 increased 29 percent as compared to the prior year period.
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