Increased Credit Facilities, Scheduled Conference Calls, New Orders, and Restructuring Programs - Analyst Notes on EnerSys, AMETEK, Embraer, General Cable and TASER
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NEW YORK, July 15, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding EnerSys (NYSE: ENS), AMETEK, Inc. (NYSE: AME), Embraer SA (ADR) (NYSE: ERJ), General Cable Corporation (NYSE: BGC) and TASER International, Inc. (NASDAQ: TASR). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/4794-100free.
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EnerSys Analyst Notes
On July 8, 2014, EnerSys announced that it amended and increased its senior credit facility by $300 million to $650 million. According to the Company, the amended credit facility is comprised of a $500 million revolving line of credit as well as a $150 million incremental term loan, both maturing in September 2018. EnerSys stated that the current interest rate stays at LIBOR plus 1.25%, and can increase based on EnerSys' leverage ratio of debt to EBITDA as defined in the credit facility. EnerSys stated that immediately following the effectiveness of these amendments, there were $160 million of total outstanding borrowings under the credit facility. Commenting on the credit facility amendment, Michael J. Schmidtlein, Senior Vice President and CFO, EnerSys, said "The increased credit facility borrowing capacity provides additional liquidity for funding the expected conversion of the Convertible Notes in 2015." The full analyst notes on EnerSys are available to download free of charge at:
http://www.analystsreview.com/Jul-15-2014/ENS/report.pdf
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AMETEK, Inc. Analyst Notes
On July 10, 2014, AMETEK, Inc. (AMETEK) announced that it will issue its Q2 2014 earnings release on Tuesday, August 5, 2014, before the market opens, followed by a conference call beginning at 8:30 a.m. ET. According to the Company, a live audio webcast of the call will be available on its website. A replay of the call will also be archived on the Company's website where it will remain accessible until the next quarterly earnings call. The full analyst notes on AMETEK are available to download free of charge at:
http://www.analystsreview.com/Jul-15-2014/AME/report.pdf
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Embraer SA (ADR) Analyst Notes
On July 8, 2014, Embraer SA (Embraer) announced that Borajet, a Turkish regional airline, has ratified an agreement for acquiring the Company's four E190 jets as part of an initiative to gradually upgrade its turboprop fleet, add capacity and frequencies, and grow its network from its base at Istanbul's Sabiha Gokcen International Airport. According to the Company, through a third party lease agreement, Borajet will acquire the 100-seat, single-class E190s, with the first E190 revenue flight scheduled to begin in July 2014. John Slattery, Chief Commercial Officer, Embraer Commercial Aviation, said, "We welcome Borajet as the first Turkey-based E-Jet operator. The country has tremendous potential because of the large number of cities that are ideally sized for the E190. The range of the aircraft, its reliability and its trademark level of cabin comfort will be a welcome addition to travelers in the region." The full analyst notes on Embraer are available to download free of charge at:
http://www.analystsreview.com/Jul-15-2014/ERJ/report.pdf
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General Cable Corporation Analyst Notes
On July 9, 2014, General Cable Corporation (General Cable) announced the implementation of a restructuring program to improve profitability and return on invested capital in each of the Company's three reportable segments. According to the Company, the restructuring program is expected to bring ongoing annual savings of approximately $75 million, starting in 2014 with full realization starting in early 2016. Built on the Company's existing productivity and asset optimization plans, the restructuring program is focused on the closure of some underperforming assets and the consolidation and realignment of other facilities. In addition, General Cable announced that it will also implement reductions in selling, general, and administrative (SG&A) expenses globally. The Company also revised its full-year 2014 adjusted operating income guidance to $200-$230 million, down from its previously announced estimate of around $230 million. The full analyst notes on General Cable are available to download free of charge at:
http://www.analystsreview.com/Jul-15-2014/BGC/report.pdf
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TASER International, Inc. Analyst Notes
On July 10, 2014, TASER International, Inc. (TASER) announced that it will release its Q2 2014 results on Wednesday, July 30, 2014, and will also host a conference call to discuss the results on the same day at 11:00 a.m. ET, hosted by TASER CEO Rick Smith and CFO Dan Behrendt. The full analyst notes on TASER are available to download free of charge at:
http://www.analystsreview.com/Jul-15-2014/TASR/report.pdf
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