Here’s Why Investors Will Be Risk-Averse This WeekMore Articles 31 July 2012 On Tuesday, her third quarter earnings were announced and the following subjects were discussed in her earnings. Look ahead. Steven Winoker Sanford C. Bernstein Transfer to ADT: You know what I think it needs to be listed before my questions, just to say congratulations to Ed for your 10-year anniversary that you saved this business. I remember when I was at UTX 10 years ago and all that news broke out and we really worried about the Company’s future. To say congratulations, I just think it is worth noting.Naren K. Gursahaney President of Tyco Security Solutions: Well, as we mentioned in the past, we keep a close eye on our success in those markets where we have very close cable competition and every week we look at our results. When I look specifically at the results of the third quarter and again I feel very good about how we are doing in those markets. There are some specific performance indicators like our Pulse take rate and the upfront dollars we get from our consumers that are higher in those markets than we see in some of the other markets and that I think is a reflection of the fact that there is more marketing around digital services there. So the water level has a bit of a boost. But I still feel pretty good about our performance overall. There is nothing in it that scares me or that worries me. So I still feel very good and, more importantly, I feel good about the products and services that we have to compete on the market with those clubs. Jeffrey Sprague’s Product Power – Vertical Research: Let me add my thanks and congratulations to Ed. I hope you’ll get some good time off but hope you’ll also surface somewhere we can see you early. Just back in the (rein) for a follow-up on ADT and Pulse I think the $45 and $0.12 number you put out is your ARPU dealer account and I suppose that’s a mix of Pulse and non-Pulse. Can you just give us a little insight on where your actual Pulse ARPU runs and I forgot if you name it gold silver bronze but the kind of price ranges that people divide into the different buckets? Frank Sklarsky EVP and CFO: Jeff just to explain the $45.12 amount I gave you for our direct channel, which was new ARPU sales. And that was not a number for the dealer. The Pulse ARPU is consistent with what we’ve seen in the past few quarters floating around the $50 range. I’d say the balance between the specific Select Advantage and Premier is again around 70 percent consistent in the Pick and then it’s kind of building up from that. Still, either on the ARPU side or that combination between Select Advantage and Premier, no significant changes. Jeffrey Sprague Vertical Research: just flipping over to George George, can you share a bit of color on what has powered your business ‘ product strength? Jeffrey Sprague Vertical Research: Then you were able to defend or even raise those margins just on Europe, despite the fact that you are now facing some headwinds of sales there? George R. Oliver President Tyco Fire Protection: If you go back over the last couple of years we’ve done a tremendous amount of work transforming these companies and making sure we’re centered on how we’re expanding profitably within those markets. Looking at our current performance, I can tell across the board that our goods are up modestly compared to the growth service being relatively flat with just slightly down deployment. So overall, considering what’s going on inside Europe, I’d say we’re doing fairly well and I think the work we’ve done to restructure these companies the improvements we’re making and our emphasis on sustainable growth is really paying off and now we’re running with double-digit margins across the board. Antonella Franzen IR: Jeff I’d only add that if you look back, note that those margins were once in the mid-single digit range in the EMEA area and now they’re in the double digits and all that change occurred in an economic environment where we didn’t get any growth in the European region. George R. Oliver – President Tyco Fire Protection: All of Jeff’s companies are in the UK. Continental Europe now operates with double-digit returns through Safety as well as Power. Jeffrey Sprague Vertical Research: I recall one in front of the margins had a minus sign. Golar LNG GmbH. Earnings Call Insights: Average Operating Expenses
Naren K. Gursahaney President of Tyco Security Solutions: Well, as we mentioned in the past, we keep a close eye on our success in those markets where we have very close cable competition and every week we look at our results. When I look specifically at the results of the third quarter and again I feel very good about how we are doing in those markets. There are some specific performance indicators like our Pulse take rate and the upfront dollars we get from our consumers that are higher in those markets than we see in some of the other markets and that I think is a reflection of the fact that there is more marketing around digital services there. So the water level has a bit of a boost. But I still feel pretty good about our performance overall. There is nothing in it that scares me or that worries me. So I still feel very good and, more importantly, I feel good about the products and services that we have to compete on the market with those clubs. Jeffrey Sprague’s Product Power – Vertical Research: Let me add my thanks and congratulations to Ed. I hope you’ll get some good time off but hope you’ll also surface somewhere we can see you early. Just back in the (rein) for a follow-up on ADT and Pulse I think the $45 and $0.12 number you put out is your ARPU dealer account and I suppose that’s a mix of Pulse and non-Pulse. Can you just give us a little insight on where your actual Pulse ARPU runs and I forgot if you name it gold silver bronze but the kind of price ranges that people divide into the different buckets? Frank Sklarsky EVP and CFO: Jeff just to explain the $45.12 amount I gave you for our direct channel, which was new ARPU sales. And that was not a number for the dealer. The Pulse ARPU is consistent with what we’ve seen in the past few quarters floating around the $50 range. I’d say the balance between the specific Select Advantage and Premier is again around 70 percent consistent in the Pick and then it’s kind of building up from that. Still, either on the ARPU side or that combination between Select Advantage and Premier, no significant changes. Jeffrey Sprague Vertical Research: just flipping over to George George, can you share a bit of color on what has powered your business ‘ product strength? Jeffrey Sprague Vertical Research: Then you were able to defend or even raise those margins just on Europe, despite the fact that you are now facing some headwinds of sales there? George R. Oliver President Tyco Fire Protection: If you go back over the last couple of years we’ve done a tremendous amount of work transforming these companies and making sure we’re centered on how we’re expanding profitably within those markets. Looking at our current performance, I can tell across the board that our goods are up modestly compared to the growth service being relatively flat with just slightly down deployment. So overall, considering what’s going on inside Europe, I’d say we’re doing fairly well and I think the work we’ve done to restructure these companies the improvements we’re making and our emphasis on sustainable growth is really paying off and now we’re running with double-digit margins across the board. Antonella Franzen IR: Jeff I’d only add that if you look back, note that those margins were once in the mid-single digit range in the EMEA area and now they’re in the double digits and all that change occurred in an economic environment where we didn’t get any growth in the European region. George R. Oliver – President Tyco Fire Protection: All of Jeff’s companies are in the UK. Continental Europe now operates with double-digit returns through Safety as well as Power. Jeffrey Sprague Vertical Research: I recall one in front of the margins had a m
inus sign. Golar LNG GmbH. Earnings Call Insights: Average Operating Expenses
Brooke Edge More Articles May 31 2012 Rate Expectations Michael Webber Wells Fargo: A couple of questions for you. I wanted to start with the quarter and Brian listed some of the additional costs associated with the Hilli and Gandria that you guys couldn’t capitalize on and then naturally bloated the line item with OpEx. Would you offer a rundown of how much that was and what will happen to a normalized run rate? Brian Tienzo CFO: I think the standardized operating rate would be slightly higher than the Q4 number so $17.16 million to $17.18 million along the lines. And I think from that you can subtract the sort of $10 million as a result of the cost of reactivation of Hilli and Gandria in this case repair costs. Michael Webber-Wells Fargo: you reported that they will start marketing relatively soon. Could you give a little bit about what level of interest I guess? I’m sure you probably already have customers calling you and maybe some context around the expectations of the prices on those assets? Brian Tienzo CFO: I think curiosity has clearly been around for these carriers “we said we’d start promoting them heavily in June. We just complete the conversion now. Obviously we can’t really say something concrete yet simply because we’re not at that point but there’s definitely potential for those guys and quite a lot of them. Brian Tienzo-CFO: I think it’s a method in two directions. Obviously we were referring to LNG Partners and the conversation is continuing. I think that both sets of organizations see the value in this, but in the end we have to compromise on the timeline we will pursue and the price we will settle on. I think this is under pricing, which is already regulated by a fairness opinion on the timing and given that the vessel is now on charter hire to Nusantara Regas, I think we’re expecting the drop-down to take place in the immediate future. Michael Webber Wells Fargo: And to characterize that as an early Q3 occurrence is fair? Brian Tienzo-CFO: maybe. Michael Webber Wells Fargo: Then you said that the price was obviously set by some sort of third party arbiter. Could you talk about Golar a little bit as expectations in terms of what you are taking back stock and equity and most of the breakdown there would be obvious? Doug Arnell-CEO: Do you mean how MLP is going to fund this? Operating Expenses Fotis Giannakoulis Morgan Stanley: Brian I want to follow up on Mike’s operating expenses issue a little bit. Could you send us a number of what the Hilli and Gandria’s costs we could extract from our comparison of earnings were? Brian Tienzo-CFO: I bet you can get $10 back. We effectively budged a number for Hilli and Gandria to reactivate. Both run over budget but it doesn’t matter from a cash perspective, but there are some costs under the accounting principle that you just can’t take to the balance sheet. We went through a technical analysis of these “our professional guys went through it with our accountants and having sat down and walked through it in depth we came to the conclusion that in this case $10 million of those costs are more of maintenance in nature than of a capital project. Fotis Giannakoulis Morgan Stanley: Do we think these two vessels would incur operating costs for the whole year for the second quarter? Brian Tienzo CFO: They are going to incur some operating expenses but the reactivation process is not complete as stated. Having said that much of the costs associated with repair reached Q1 so we wouldn’t expect anywhere near the level of operating costs that we’re seeing in Q2 now. I think there will be some operating costs in Q2 as a result of Khannur being operational, but at the end of the day I think we’re looking at a point about the same as Q4. Brian Tienzo CFO: I mean we never really told anyone that on X date we’re going to drop Khannur or Nusantara Regas Satu, but I guess we just had to complete the conversion first and foremost. That is what we accomplished in March. We don’t have to go through a cycle of obviously towing her to where she’s in Jakarta now and that wasn’t just a few weeks away. Then you’ll just be waiting for the charter readiness note. We did that now and the conversation on a possible dropdown to LNG Partners started as soon as that was completed. Fotis Giannakoulis Morgan Stanley: If you could explain to everyone what the situation was with respect to the GMLP share registration statement? When the shelf was filed, it created some uncertainty at the company. Could you please give us an explanation on that just to have it all clear? Brian Tienzo CFO: The shelf filing we did for LNG Partners effectively opens up the possibility for LNG Partners to arrange financing for their growth. I appreciate that people probably confused LNG Partners as LNG Ltd. and there was certainly an opportunity to raise equity and an option to raise public debt, and to some degree there was also a possibility that LNG Ltd. might eventually sell most of the shareholdings in LNG Partners. I think we’ve all included those simply because it helps LNG Partners to do it. It will cost us nothing more than if we did not include them. We don’t have a roadmap which tells us to sell X number of shares at X rate to fund the projects. It’s just something that allows us to take additional options to fully finance our growth. As I said as an example, I mean we’re putting in the capacity to raise public debt, but we may not be able to use that tool to raise debt. Fotis Giannakoulis Morgan Stanley: The housekeeping is sweet. I’m looking at your industry forecast on Page for a couple of questionsHer address (and job title) may have changed, but the tastes of Markle’s decor may have changed. Continue reading to learn how to decorate her house in Toronto, which Markle might have moved to Frogmore Cottage. 3/3.422 3/3.422 Figure 1 General view of Frogmore Cottage in Windsor England on 10 April 2019. The cottage is a part of Home Park Windsor in Berkshire built on the Frogmore Estate itself. GOR / Getty Images
Pinterest-worthy vignettes Markle created First off what is a vignette? It is a grouping of items in terms of home decor. Markle displayed her ability to create eye-catching vignettes in her home in Toronto, where she lived while shooting Suits. The vignettes were also used when she had an Instagram account (R.I.P.) The now Duchess of Sussex liked to pair books with fresh flowers and candles (more on how Markle later adorned them with books). 3/3.423 3/3.423 Figure 2 Meghan Markle Instagram While we don’t know for sure if Markle’s Frogmore Cottage was adorned with vignettes, we believe that she and Prince Harry’s home added personal touches. Perhaps she made a vignette with candleflowers and a picture of her son Archie Harrison Mountbatten-Windsor and Prince Harry? Or mixed in a couple of wedding pictures? She enjoyed adding mirrors to any room
During her Instagram days, the Duchess of Sussex posted a number of mirror selfies for which we are honored because we had to see her decorating skills. www.instagram.com/p/Bui9icAgRw /? utm source = ig web copy link Figure 3 Mmoplejena Instagram Mirrors are not only functional but make a room look bigger. Not that Markle and Prince Harry need any help to make Frogmore Cottage look bigger (it’s estimated to have 10 bedrooms), but mirrors can add a fun touch to any room. www.instagram.com/p/BuzHRnBADgR/? utm source = ig web copy link Figure 4 Mmopjelena Instagram It would come as no surprise to see Markle’s mirrors from her Frogmore Cottage Toronto home.
The Duchess of Sussex has skilfully furnished her Toronto home with books. Her Instagram had books on the coffee table and in her guest bedroom, but we think Markle scattered them throughout her house in nearly every room. We got a glimpse of the way Markle decorated with books in two Instagram photos of her dog Guy (who must have enjoyed hanging out in the guest bedroom). She didn’t just put books on a shelf that she arranged by making a rainbow look in her guest bedroom on the bookshelves.
3/3.424 3/3.424 Figure 5 Meghan Markle Instagram Markle preferred the color white
The color white played a prominent role in the decoration in Markle’s Toronto home. Markle had a white sofa in her living room with the coziest looking white dining chairs and white bedding. In her home she always preferred white walls. See how Markle adorned here with white shades.