Post-Doctoral Research Position

first_imgA full time Post-Doctoral research position is available in thelaboratory of Dr. Charles Hong in the Division of Cardiology at theUniversity of Maryland-Baltimore as of June 1, 2018. MD, PhD orMD/PhD scientist is sought to join the emerging field of chemicalgenetics. The Hong lab has identified a number of small moleculesthat specifically perturb embryonic patterning. The first goal ofthe study is to determine how these small molecules function byidentifying their cellular targets using cell biological,biochemical and computational approaches. In addition, sinceaberrant activities of many of developmental pathways are thoughtto play a major role in pathogenesis of variety of human diseases,such as cancer, metabolic and cardiovascular diseases, an importantgoal is to explore therapeutic potential these small molecules invarious murine disease models.Qualifications :Applicants are required to have a Ph.D. or M.D. and expertise intechniques of cell and molecular biology. Depending on backgroundand interest, the post-doc will perform experiments involving drugtarget identification, proteomics, biochemistry, computationalbiology and/or murine or zebrafish disease models. Prior experiencein these methodologies and willingness to learn new techniques arehighly valued.If interested, please email a CV, a short statement of researchinterests, and the names and contact information for threereferences to Charles Hong, MD, PhD atEmail: [email protected](after June 1, 2018; before that date,[email protected])University of Maryland is an Equal Opportunity Employer encouragingexcellence through diversity. Qualified woman and minoritycandidates are encouraged to apply.last_img read more

Green Mountain Coffee 2011 earnings more than double

first_imgBasic income per share: – 2010 Change in restricted cash – $199,501 $27.6Information Systems Technology 1,131,527 $2,650,899 9,617 Source: Green Mountain Coffee Roasters, Inc. November 9, 2011 – – 348,696 Thirteen weeks ended September 24, 2011 212%Royalties Cash and cash equivalents$12,989 $ Increase (decrease) 526 $373.1 (116,653)Income tax receivable, net 24,236 Expenses related to SEC inquiry and pending litigation (2) 8,788 40%Other Products September 25, $138.9 27,184 310,321 1,746,274 $869.6 Receivables, less uncollectible accounts and return allowances – – 672,248 $62.0 2011 $1.3 $26,991 (375,709) Q4 2011 335,504 Fifty-two 17,328 Cash flows from investing activities: (1,630)Total stockholders’ equity$1,912,215 104%Brewers and Accessories 5,191 September 24, (8) Common stock, $0.10 par value: Authorized – 200,000,000 shares; GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations September 25, – 81.8 disqualified dispositions of incentive stock options 1.0 (6,142) Other current assets (66)%Total Net Sales $711.9 Interest expense Loss on extinguishment of debt (4)$0.07 63,487 $41,676 244.4 243 Fifty-two 36,231 904,625 $- % Increase (decrease)K-Cup® Portion Packs Diluted income per share$1.31 Acquisition-related expenses (1) 785 132,210,938 1,199,845 Expenses related to SEC inquiry and pending litigation (2)$0.03 49,279 Non-GAAP operating income$119,139 92,579 Current liabilities related to assets held for sale 9,961 Cash distributions to redeemable noncontrolling interests shareholders Intangibles, net 18,906 (1) Amortization of identifiable intangibles (3)$0.05 Net income attributable to GMCR$75,369 Current assets: 95,150 19,732 Fifty-two (126,205)Proceeds from disposal of fixed assets Current assets held for sale (12,715) weeks ended $834.4 186,418 After tax: 10,575 Net income per common share – basic$0.49 $1,356.8 Income tax expense Operating income Accrued expenses 41,676 Retained earnings Net operating and capital loss carryforwards (4)$(0.05) 44,105 Change in cash balances included in short-term assets held for sale Net cash used in investing activities Description 85 Gain (loss) on financial instruments, net 5,574 113,446 (6,245) 411,727 610 $226.0 Amortization of identifiable intangibles (3) 425,758 – – 2010 (57,657) 169.6 99,349 $1.36 Amortization of intangibles 120.3 (715) (283,444) $79,506 (101,699) – $26,991 Deferred income taxes, net (46,009) Cash flows from financing activities: Stockholders’ equity: – 1,547 $4,401 (237,410)Cash and cash equivalents at beginning of period $ Increase (decrease) Represents legal and accounting expenses related to the SEC inquiry and pending litigation classified as general and administrative expense.(3) September 25, 2010, respectively Fixed asset purchases included in accounts payable 144%Royalties September 24, 100,568 82.2 131,529,412 After tax: (63)%Total Net Sales$2,650.9 Unrealized loss of foreign currency 675 Diluted income per share: (533,435) 159,207,852 – 59%Other Products 137,834,123 Thirteen weeks ended September 25, 2010 Proceeds from issuance of common stock for private placement $19,009 $79,506 September 25, Thirteen Cash paid for income taxes$58,182 1,645 2010Assets $42,313 8.2 Fifty-two weeks ended September 24, 2011 Restricted cash and cash equivalents Commitments and contingencies Represents direct acquisition-related expenses classified as general and administrative expense.(2) 4,895 of $21,407 and $14,056 at September 24, 2011 and 573 GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations 172,200 Represents the write-off of debt issuance costs and original issue discount, net of tax, primarily associated with the extinguishment of the Term B loan under the Credit Agreement.(5) $25.4 weeks ended $8.0Coffee Processing (primarily roasting & grinding equipment) GREEN MOUNTAIN COFFEE ROASTERS, INC.Unaudited Consolidated Statements of Operations(Dollars in thousands except per share data) 5,350 11,752 302,747 $0.60 Proceeds from issuance of common stock under compensation plans September 24, After tax: $27.6 41,339 GREEN MOUNTAIN COFFEE ROASTERS, INC.Unaudited Consolidated Statements of Cash Flows(Dollars in thousands) – Additional paid-in capital The 2011 fiscal year reflects direct acquisition-related expenses of $10.6 million ($8.9 million after-tax); the write-off of deferred financing expenses of $2.6 million ($1.6 million after-tax) on our Former Credit Facility in conjunction with the new financing secured for the Van Houtte acquisition; and the foreign exchange impact of hedging the risk associated with the Canadian dollar purchase price of the Van Houtte acquisition of $5.3 million ($4.0 million after-tax). The 2010 fiscal year represents direct acquisition-related expenses of $18.9 million ($16.8 million after-tax). Direct acquisition-related expenses incurred prior to the closing of the acquisition are tax affected. Generally, upon the close of the acquisition, the direct acquisition-related expenses are nondeductible. Fixed assets, net Noncash investing activity: Amortization of identifiable intangibles (3) 258,923 529,494 220,005 (8,376) 10,573 673,048 – 2010K-Cup® Portion Pack Packaging (354)Loss on foreign currency, net – Amortization deferred financing fees 19,341 $475.5 Supplemental disclosures of cash flow information: 14,973 Total current assets (2,297) – Non-GAAP operating income$428,693 265,511 – 452 GREEN MOUNTAIN COFFEE ROASTERS, INC. 120,583 931,017 Loss on extinguishment of debt (4) $- 139,220 Represents direct acquisition-related expenses classified as general and administrative expense.(2) 92,120 Deferred income taxes, net 193.9 140,000 – 34,613 (52) 355 Proceeds from issuance of common stock for public equity offering – 189,637 General and administrative expenses 238,055 Green Mountain Coffee Roasters, Inc., (GMCR) (NASDAQ: GMCR), a leader in specialty coffee and coffeemakers, today announced its full year and fiscal 2011 fourth quarter results for the thirteen and fifty-two weeks ended September 24, 2011. Earnings more than doubled for the year and revenues increased 95 percent. Those numbers, however, were below analysts’ expectations, especially on the revenue side, and GMCR’s stock fell in after-hours trading nearly 30 percent to $48.11 as of 4:32 pm. http://finance.yahoo.com/q?s=GMCR(link is external)Performance HighlightsFiscal 2011Net sales of $2,650.9 million, up 95% over fiscal 2010GAAP EPS of $1.31 increases 126% over fiscal 2010; non-GAAP EPS of $1.64 increases 113% over a year agoGAAP operating income of $368.9 million increases 166% over fiscal 2010; non-GAAP operating income of $428.7 million improves 148% over a year agoGAAP net income of $199.5 million increases 151% over 2010; non-GAAP net income of $248.9 million up 135% over 2010Fourth Quarter Fiscal 2011Net sales of $711.9 million, up 91% over the same period in fiscal 2010GAAP EPS of $0.47 increases 135% over fourth quarter fiscal 2010; non-GAAP EPS of $0.47 increases 96% over the year ago quarterGAAP operating income of $106.7 million increases 156% over fourth quarter fiscal 2010; non-GAAP operating income of $119.1 million improves 128% over the year ago quarterGAAP net income of $75.4 million increases 179% over Q4’10; non-GAAP net income of $75.3 million increases 126% over Q4’10″With 95% annual revenue growth over last year the business continues to demonstrate extraordinary momentum as a result of broad consumer adoption of the Keurig® Single Cup Brewing system,” said Lawrence J. Blanford , president and CEO of GMCR. “We are seeing continued evidence of strong consumer demand for both brewers and portion packs from our customers and from third party sources that track consumer purchases such as NPD Group and SymphonyIRI Group, Inc. For instance, NPD reports Keurig® Single Cup Brewer unit sales increased 56% in our fiscal 2011 fourth quarter from the same period last year. As an indication of what we believe will be strong holiday consumer demand, for the month of September alone, NPD reports Keurig brewer unit sales are up 73% from the same month in 2010.””Our fiscal fourth quarter revenue growth of 91% was strong. This was off of our estimates as a result of a number of factors including changes in wholesale customer ordering patterns in our grocery and club channels despite steady consumer point-of-sale demand in those channels,” continued Blanford.Blanford concluded, “While like most consumer products companies we are watchful of broader consumer sentiment going into the holidays, we remain confident in the Company’s growth potential and comfortable reiterating our estimate for fiscal year 2012 non-GAAP earnings per diluted share in a range of $2.55 to $2.65.”Fiscal 2011 Financial ReviewNet Sales (in millions) Preferred stock, $0.10 par value: Authorized – 1,000,000 shares; (7,555) (53,703)Net Income$75,821 – (102,297)Inventories 38.5 Loss on extinguishment of debt 298,322 Acquisition-related expenses (1) Loss on disposal of fixed assets Net income attributable to noncontrolling interests $33,312 Redeemable noncontrolling interests $0.58 Amortization of identifiable intangibles (3) (23,528) 575,969 $6,486 Operating income$368,913 – $1,356,775 Issued and outstanding – 154,466,463 and 132,823,585 shares at September 24, 2011 and September 25, 2010, respectively 15,447 2011 Accounts payable (1,339)Repayment of long-term debt $52,169 (67,813) 2011 32.9 $- 474 138,256,219 – 5,017 Long-term liabilities related to assets held for sale (5,294)Income before income taxes Current liabilities: Q4 2010 2,074center_img weeks ended 5,191 5,476 187,016 2010Cash flows from operating activities: 29,484 Non-GAAP net income per share$0.47 Expenses related to SEC inquiry and pending litigation (2)$- provided by operating activities: Depreciation 368,913 Net income$201,048 Inventories 67,813 1,376 6,158 4,401 91%Approximately 83% of consolidated net sales in the fourth quarter were from the Keurig® Single Cup Brewing system and its recurring portion pack sales, including Keurig-related accessory sales, with the remainder of total sales consisting primarily of sales of bagged coffee and revenue from the office coffee services business.The increase in K-Cup® portion pack net sales is driven by a 52 percentage point increase in K-Cup® portion pack sales volume, a 29 percentage point increase in K-Cup® portion pack net price realization due to price increases implemented during fiscal 2011 to offset higher green coffee and other input costs, and a 10 percentage point increase in K-Cup® portion pack net sales due to the acquisition of Van Houtte.GMCR sold 1.3 million Keurig® Single Cup Brewers during the fourth quarter of fiscal 2011. This brewer shipment number does not account for consumer returns to retailers. We estimate that GMCR brewer shipments represented approximately 92% of total brewers shipped with Keurig technology in the period.Royalty revenue declined from the fourth quarter of 2010 due to the acquisition of Van Houtte, which previously paid royalties to GMCR as a third party licensed roaster.Revenue from the Canadian business unit segment, which includes the acquisition of Van Houtte completed on December 17, 2010, contributed approximately $100.4 million to net sales in the fourth quarter of fiscal 2011.Fourth quarter fiscal 2011 gross margin was 35.7% of total net sales compared to 30.4% for the corresponding quarter in fiscal 2010. The elements of the gross margin improvement are primarily:The impact of price increases on K-Cup® portion packs during the fourth quarter of fiscal 2011 improved gross margin by approximately 710 basis points.The benefit from the K-Cup® portion pack price increases was offset by higher green coffee costs in the fourth quarter of fiscal 2011 as compared to the prior year quarter, which decreased the Company’s gross margin by approximately 860 basis points.Gross margin also increased due to a shift in the Company’s sales mix.Net sales from Keurig® Single Cup Brewers and related accessories were lower as a percentage of total Company net sales in the fourth quarter of fiscal 2011 as compared to the fourth quarter of fiscal 2010.The Company sells the majority of Keurig® Single Cup Brewers approximately at cost, or sometimes at a loss when factoring in the incremental costs related to sales, including fulfillment charges, returns and warranty expenses.In the fourth quarter of fiscal 2011, the decrease in Keurig® Single Cup Brewer and accessories net sales as a percentage of total net sales improved the Company’s gross margin by approximately 250 basis points over the fourth quarter of fiscal 2010.The Company’s effective income tax rate was 23.7% for the fourth quarter of fiscal 2011 compared to a 32.0% effective tax rate for the fourth quarter of fiscal 2010. The difference is primarily attributable to the release of valuation allowances related to a $17.7 million capital loss carryforward and a $5.4 million net operating loss carryforward in the fourth quarter of fiscal 2011. In addition, in the fourth quarter of fiscal 2011 as compared to the fourth quarter of fiscal 2010, the Company had a larger percentage of foreign-based sales in Canada, which has a lower corporate tax rate.Diluted weighted average shares outstanding increased 15% to 159.2 million in the fourth quarter of fiscal 2011 from 138.3 million in the fourth quarter of fiscal 2010 primarily due to the issuance of approximately 8.6 million shares of common stock to Luigi Lavazza S.p.A (“Lavazza”) on September 28, 2010 and approximately 10.1 million shares on May 11, 2011 from a public offering and concurrent private placement to Lavazza pursuant to its preemptive rights.Business Outlook and Other Forward-Looking InformationCompany Estimates for First Quarter Fiscal Year 2012The Company is providing initial estimates for its first quarter of fiscal 2012:Fiscal first quarter consolidated net sales growth of 85% to 90%.Fiscal first quarter fully diluted non-GAAP earnings per share in the range of $0.35 to $0.40 per share excluding any acquisition-related transaction expenses; legal and accounting expenses related to the SEC inquiry and the Company’s pending litigation; amortization of identifiable intangibles related to the Company’s acquisitions; and any gain from sale of the Filterfresh U.S.-based coffee services business.Company Estimates for Fiscal Year 2012The Company provided the following estimates for its fiscal year 2012:Total consolidated net sales growth of 60% to 65% from fiscal 2011.Fiscal 2012 non-GAAP earnings per diluted share in a range of $2.55 to $2.65 per diluted share, excluding any acquisition-related transaction expenses; legal and accounting expenses related to the SEC inquiry and the Company’s pending litigation; amortization of identifiable intangibles related to the Company’s acquisitions; and any gain from sale of the Filterfresh U.S.-based coffee services business.For fiscal 2012, we currently expect to invest between $630.0 million to $700.0 million in capital expenditures to support the Company’s future growth. We expect approximately $225.0 million will be spent to increase our portion pack packaging capacity related to our current Keurig® Single Cup Brewing platform, approximately $100.0 million will be spent for portion pack packaging capacity related to our next-generation Keurig® Single Cup Brewing platform, approximately $175.0 million will be spent to expand our physical plants, research and development facilities and office space, approximately $100 million will be spent for coffee processing equipment, and approximately $65.0 million will be spent for information technology infrastructure and systems.Use of Non-GAAP Financial MeasuresIn addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), the Company provides non-GAAP operating results that exclude certain charges or credits such as transaction expenses related to the Company’s acquisitions including the foreign exchange impact of hedging the risk associated with the Canadian dollar purchase price of the Van Houtte acquisition; any gain from sale of the Fitlerfresh U.S.-based coffee services business; legal and accounting expenses related to the SEC inquiry and pending litigation; non-cash related items such as amortization of identifiable intangibles and losses incurred on the extinguishment of debt; and the effect of net operating and capital loss carryforwards, each of which include adjustments to show the tax impact of excluding these items. These amounts are not in accordance with, or an alternative to, GAAP. The Company’s management believes that these measures provide investors with transparency by helping illustrate the underlying financial and business trends relating to the Company’s results of operations and financial condition and comparability between current and prior periods. Management uses the measures to establish and monitor budgets and operational goals and to evaluate the performance of the Company. Please see the “GAAP to Non-GAAP Reconciliation of Unaudited Consolidated Statements of Operations” tables that accompany this document for a full reconciliation the Company’s GAAP to non-GAAP results.Conference Call and WebcastGreen Mountain Coffee Roasters, Inc. will be discussing these financial results with analysts and investors in a conference call and live webcast available via the Internet at 5:00 p.m. ET today, November 9, 2011. Management’s prepared remarks on its quarterly results will be provided via a Current Report on Form 8-K and also posted under the events link in the Investor Relations section of the Company’s website at www.GMCR.com(link is external). As a result, the conference call will include only brief remarks by management followed by a question and answer session. The call along with accompanying slides is accessible via live webcast from the events link in the Investor Relations portion of the Company’s website at http://investor.gmcr.com/events.cfm(link is external). The Company archives the latest conference call for a period of time. A replay of the conference call also will be available by telephone at (719) 457-0820, Passcode 7944796 from 9:00 p.m. ET on November 9, 2011 through 9:00 p.m. ET on Sunday, November 13, 2011.About Green Mountain Coffee Roasters, Inc.As a leader in specialty coffee and coffee makers, Green Mountain Coffee Roasters, Inc. (GMCR) (NASDAQ: GMCR), is recognized for its award-winning coffees, innovative Keurig® Single Cup brewing technology, and socially responsible business practices. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in sustainably-grown coffee, and donating at least five percent of its pre-tax profits to social and environmental projects.GMCR routinely posts information that may be of importance to investors in the Investor Relations section of its website, including news releases and its complete financial statements, as filed with the SEC. The Company encourages investors to consult this section of its website regularly for important information and news. Additionally, by subscribing to the Company’s automatic email news release delivery, individuals can receive news directly from GMCR as it is released.Forward-Looking StatementsCertain statements contained herein are not based on historical fact and are “forward-looking statements” within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “would,” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially from those stated here. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact on sales and profitability of consumer sentiment in this difficult economic environment, the Company’s success in efficiently expanding operations and capacity to meet growth, the Company’s success in efficiently and effectively integrating the Company’s acquisitions, the Company’s success in introducing and producing new product offerings, the ability of lenders to honor their commitments under the Company’s credit facility, competition and other business conditions in the coffee industry and food industry in general, fluctuations in availability and cost of high-quality green coffee, any other increases in costs including fuel, the Company’s ability to continue to grow and build profits in the At Home and Away from Home businesses, the Company experiencing product liability, product recall and higher than anticipated rates of warranty expense or sales returns associated with a product quality or safety issue, the extent to which the data security of the Company’s websites may be compromised, the impact of the loss of major customers for the Company or reduction in the volume of purchases by major customers, delays in the timing of adding new locations with existing customers, the Company’s level of success in continuing to attract new customers, sales mix variances, weather and special or unusual events, the impact of the inquiry initiated by the SEC and any related litigation or additional governmental investigative or enforcement proceedings, as well as other risks described more fully in the Company’s filings with the SEC. Forward-looking statements reflect management’s analysis as of the date of this release. The Company does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.GMCR-C 884 Acquisition-related expenses (1) $0.12 – 47,759 (11,454) (285) Net income attributable to GMCR$75,369 (Dollars in thousands) 25,600 2,584 Other long-term liabilities 386,416 64,457 40,139 Income taxes receivable 648 (188)Tax expense from exercise of non-qualified options and 115.1 Fifty-two weeks ended September 24, 2011 21,034 790 Amortization of identifiable intangibles (3) 16,773 Other income (expense), net 2011 (713)Excess tax benefits from equity-based compensation plans Amortization of identifiable intangibles (3)$0.18 Capital expenditures for fixed assets 1,499,616 43,260 Long-term assets held for sale Diluted income per share$0.47 (5,097) (1,063) Net operating and capital loss carryforwards (4) Non-GAAP net income per share$1.64 10,065 Other current liabilities Accumulated other comprehensive loss 41,007 27,665 (5,349)Accounts payable 106,202 Long-term debt Accrued compensation costs Purchases of short-term investments $1,294.1 Thirteen weeks ended September 24, 2011 14,973 $26,991 $699,245 (8,828) 39,706 $63.1Next Generation Portion Pack Packaging (3,118) Other long-term assets $13.0Manufacturing Facilities & Infrastructure Goodwill % Increase (decrease)K-Cup® Portion Packs$1,704.0 (1) Gross profit $- Net increase (decrease) in cash and cash equivalents 50,000 Net income per common share – diluted$0.47 Provision for sales returns (2,912) Acquisition of Timothy’s Coffee of the World Inc. – (1.9) Represents the amortization of intangibles related to the Company’s acquisitions classified as general and administrative expense.(4) Diluted weighted average shares outstanding (1,187,672) GREEN MOUNTAIN COFFEE ROASTERS, INC.Unaudited Consolidated Balance Sheets(Dollars in thousands) 2,233 Net change in revolving line of credit 153,837,445 Other long-term liabilities 1,041 291,096 Thirteen weeks ended September 24, 2011 $1,370,574 Other investing activities (158) Net income attributable to GMCR$199,501 4,377 22.0 (1,918) and not disbursed at the end of each year$25,737 Represents the amortization of intangibles related to the Company’s acquisitions classified as general and administrative expense.(4) 414.0 Changes in assets and liabilities, net of effects of acquisition: *$0.77 27,523 457,793 213,844 – Non-GAAP net income$75,275 Expenses related to SEC inquiry and pending litigation (2) Expenses related to SEC inquiry and pending litigation (2) (8,376) September 25, $0.24 – No shares issued or outstanding GREEN MOUNTAIN COFFEE ROASTERS, INC. 524.7 (Dollars in thousands) Acquisition-related expenses (6) 262,478 $1,370,574 499 (217)Proceeds from borrowings of long-term debt 91%Brewers and Accessories – 579,219 41,339 13,282 (906,885) 72,297 Non-GAAP net income$248,914 (8,500)Net cash provided by financing activities 23,405 (5,160) – Selling and operating expenses 26,997 – – 8,588 796,375 $0.20 241,811 Cash and cash equivalents at end of period$12,989 2011 Deferred financing fees Cash paid for interest$33,452 (10,692)Other long-term assets, net 2011 106,712 – weeks ended $20,261 14,590 Liabilities assumed in conjunction with acquisitions$- $1,533 $0.20 259,641 Deferred income taxes, net Unrealized (gain) loss on financial instruments, net $21.0Other 495,269 146,214,860 Current portion of long-term debt$6,669 3,292 Total liabilities and stockholders’ equity$3,197,887 7,868 8,110 $373,087 Excess tax benefits from equity-based compensation plans Other current assets 145,000 95%Approximately 84% of consolidated net sales in fiscal 2011 were from the Keurig® Single Cup Brewing system and its recurring portion pack sales, including Keurig-related accessory sales, with the remainder of total sales consisting primarily of sales of bagged coffee and revenue from the office coffee services business.The increase in K-Cup® portion pack net sales is driven by a 76 percentage point increase in K-Cup® portion pack sales volume, an 18 percentage point increase in K-Cup® portion pack net price realization due to price increases implemented during fiscal 2011 to offset higher green coffee and other input costs, and a 10 percentage point increase in K-Cup® portion pack net sales due to the acquisition of Van Houtte.Supporting continued growth in portion pack demand, GMCR sold 5.9 million Keurig® Single Cup Brewers during fiscal 2011. This brewer shipment number does not account for consumer returns to retailers. We estimate that GMCR brewer shipments represented approximately 91% of total brewers shipped with Keurig technology in the year.Royalty revenue declined from 2010 due to the acquisitions of Timothy’s, Diedrich and Van Houtte, all of which previously paid royalties to GMCR as third party licensed roasters.Revenue from the Canadian business unit segment, which includes the acquisition of Van Houtte completed on December 17, 2010, contributed approximately $321.4 million to net sales for the year.Gross profit for fiscal 2011 was $904.6 million, or 34.1% of net sales as compared to $425.8 million, or 31.4% of net sales, in fiscal 2010.The impact of price increases on K-Cup® portion packs during fiscal 2011 improved gross margin by approximately 400 basis points.The benefit from the K-Cup® portion pack price increases was offset by higher green coffee costs in fiscal 2011 as compared to fiscal 2010, which decreased the Company’s gross margin by approximately 330 basis points.Gross margin also increased due to a shift in the Company’s sales mix.Net sales from Keurig® Single Cup Brewers and related accessories were lower as a percentage of total Company net sales in fiscal 2011 as compared to fiscal 2010.The Company sells the majority of Keurig® Single Cup Brewers approximately at cost, or sometimes at a loss when factoring in the incremental costs related to sales, including fulfillment charges, returns and warranty expense.In fiscal 2011, the decrease in Keurig® Single Cup Brewer and accessories net sales as a percentage of total net sales improved the Company’s gross margin by approximately 230 basis points.The Company’s effective income tax rate was 33.6% for fiscal 2011 compared to a 40.3% effective tax rate for fiscal 2010. The difference is primarily attributable to the release of valuation allowances related to a $17.7 million capital loss carryforward and a $5.4 million net operating loss carryforward in the fourth quarter of fiscal 2011. In addition, in fiscal 2011 as compared to fiscal 2010, the Company had a larger percentage of foreign-based sales in Canada which has a lower corporate tax rate.Diluted weighted average shares outstanding increased 10% to 152.1 million in fiscal 2011 from 137.8 million in fiscal 2010 primarily due to the issuance of approximately 8.6 million shares of common stock to Luigi Lavazza S.p.A (“Lavazza”) on September 28, 2010 and approximately 10.1 million shares on May 11, 2011 from a public offering and concurrent private placement to Lavazza pursuant to its preemptive rights. The initial Lavazza sale raised $250.0 million and the May offering raised approximately $688.9 million after deducting underwriting discounts and commissions and offering expenses.The Company allocates at least 5% of its pre-tax profits to social and environmental programs. GMCR estimates that total resources allocated to social and environmental programs totaled approximately $15.2 million for fiscal 2011.Balance Sheet HighlightsAccounts receivable increased 80% year-over-year to $310.3 at September 24, 2011, from $172.2 million at September 25, 2010, reflecting continuing sales growth and the addition of Van Houtte-related accounts receivables.Inventories were $672.2 million at September 24, 2011 including $52.0 million of Van Houtte-related inventories. This compares to $262.5 million at September 25, 2010. The year-over-year increase is comprised of:a $136.5 million, or 295%, increase in raw materials most notably from an increase in green coffee volume and 65% average green coffee cost increase;a $273.3 million, or 126%, increase in finished goods inventory with approximately half of the increase due to K-Cup® portion packs on hand and the other half due to Keurig® Single Cup Brewers and accessories on hand.Debt outstanding increased to $582.6 million at September 24, 2011 from $354.5 million at September 25, 2010 as a result of an increase in the long-term revolver.On October 3, 2011, the Company completed the sale of the Filterfresh U.S.-based coffee services business portion of its Van Houtte acquisition to ARAMARK Refreshment Services, LLC for an aggregate cash purchase price of approximately $145.0 million. As of September 24, 2011, the business was classified as “assets held for sale” in the Company’s financial statements.Capital Expenditures+Following is a summary of the Company’s 2011 and 2010 capital expenditures (in millions): – $338.8 Thirteen weeks ended September 25, 2010 Fifty-two weeks ended September 25, 2010 23,488 152,142,434 10,964 (75)Proceeds from sale of short-term investments 2.9 $4,401 453 $290.3 Income tax payable Contributions to the ESOP Provision for doubtful accounts – 330.8 25,885 18,258 2010Net sales$711,883 Expenses related to SEC inquiry and pending litigation (2) $1.31 Liabilities and Stockholders’ Equity 3,437 weeks ended – 1,192 Adjustments to reconcile net income to net cash (used in) (1,830)Accrued expenses $105,806 Operating income$106,712 Receivables – (14,590)Deferred income taxes (154,208)Acquisition of Diedrich Coffee, Inc., net of cash acquired – (907,835) Acquisition-related expenses (1)$- 254,090 (6,931)Deferred compensation and stock compensation $0.02 Accrued compensation costs (157,329) Net cash provided by (used in) operating activities Total current liabilities Cost of sales 138,772 2,884 Represents the release of the valuation allowance against federal capital loss carryforwards which represents the estimate of the tax benefit for the amount of capital losses that will be utilized in the first quarter of fiscal 2012 on capital gains generated on the sale of Filterfresh and the utilization in fiscal 2011 of net operating loss carryforwards generated from the Filterfresh acquisition.(6) (14,575) 14,524 $0.58 Financing costs in connection with public equity offering (305,261)Acquisition of LJVH Holdings, Inc. (Van Houtte), net of cash acquired 471,374 1,934 $32.6 $172,651 Thirteen weeks ended September 25, 2010 $0.02 $249.5 $134.0+ Note: Capital expenditures do not include capital acquired in the Timothy’s, Diedrich or Van Houtte acquisitions.Fiscal 2011 Fourth Quarter Financial ReviewNet Sales (in millions) 1,788 – $0.20 $201,048 333,835 Basic weighted average shares outstanding Represents the release of the valuation allowance against federal capital loss carryforwards which represents the estimate of the tax benefit for the amount of capital losses that will be utilized in the first quarter of fiscal 2012 on capital gains generated on the sale of Filterfresh and the utilization in fiscal 2011 of net operating loss carryforwards generated from the Filterfresh acquisition. Total assets$3,197,887 27,343 Fifty-two weeks ended September 25, 2010 Fifty-two weeks ended September 24, 2011 11,027 $79,506 $- (25,685) After tax: 133,209 Thirteen – Fifty-two weeks ended September 25, 2010 Proceeds from notes receivable Net operating and capital loss carryforwards (5)$(0.06) 52,228 Acquisition-related expenses (6)$0.10 $138,772 7,829 weeks ended Represents legal and accounting expenses related to the SEC inquiry and pending litigation classified as general and administrative expense.(3) $0.07 473,749 Net operating and capital loss carryforwards (5) Capital lease obligations 789,305 $3.8 28,072 * Does not add due to rounding. Other current liabilities 9,527 862 $79,506 Fifty-two (13.8) September 24, Effect of exchange rate changes on cash and cash equivalentslast_img read more

Arsenal fans panic as Pierre-Emerick Aubameyang deletes club from Instagram after Chinese Super League offers

first_imgArsenal fans panic as Pierre-Emerick Aubameyang deletes club from Instagram after Chinese Super League offers Comment Metro Sport ReporterWednesday 5 Jun 2019 7:29 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link3.8kShares Coming Next The Aubameyang Instagram situation is strange. Losing him wouldn’t be a nightmare as he has massive holes in his game as long as we replace him adequately. We should get around £70m if we did sell him, so I guess roll on signing Carlos Bacca.— Jack (@GuendouziSzn) June 4, 2019 Visit Advertiser website GO TO PAGE Skip Ad Read More About Connatix V67539 Manchester United captain Harry Maguire Full Screen Ok aubameyang has deleted his Instagram picture hope this is not meaning he leaving— Mark smith (@Marksmi14596981) June 4, 2019 / Read More Read More Read More Read More Skip Video Settings It’s understood Arsenal are ready to offer Aubameyang a new three-year contract – and a small pay-rise – to ward off interest from China.Aubameyang has scored 41 goals in 65 appearances since his move from Borussia Dortmund in January 2018 and the Gunners have no intention of selling the prolific attacker. SPONSORED Emery reacts to Arsenal’s 4-1 loss to Chelsea in Europa League finalTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 9:05FullscreenEmery reacts to Arsenal’s 4-1 loss to Chelsea in Europa League finalhttps://metro.co.uk/video/emery-reacts-arsenals-4-1-loss-chelsea-europa-league-final-1935292/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.MORE: Arsenal target Samuel Umtiti tells Barcelona to ignore transfer offers 1 min. story Aubameyang’s Insta profile has ruined my week. Yep, the bloke is leaving us for China.— Basil (@basilabia) June 4, 2019 by Metro Rio Ferdinand tells Ole Gunnar Solskjaer to drop struggling PLAY AUBA’S INSTAGRAM WTF— Liv (@bellerinq) June 4, 2019 Advertisement Arsenal star Pierre-Emerick Aubameyang has received offers from the Chinese Super League (Picture: Getty)Many Arsenal fans are fearing the worst after Pierre-Emerick Aubameyang removed his Instagram picture and bio amid strong interest from the Chinese Super League.Aubameyang, 29, who shared this season’s Premier League Golden Boot with Mohamed Salah and Sadio Mane, was one of Arsenal’s standout players across the campaign, but his future is now in serious doubt.Reports suggest the Gabon striker has received staggering £300,000-a-week offers from both Guangzhou Evergrande and Shanghai SIPG which could potentially see him quit the Gunners this summer.The wage packet would be some improvement on Aubameyang current £190,000-a-week deal in north London and his recent Instagram activity has sent Gooners into meltdown.AdvertisementAdvertisementADVERTISEMENT Advertisement Aubameyang, followed by 8.4 million people, removed his main display picture which showed the forward in an Arsenal shirt and his bio is now just an empty space. Top articles Aubameyang shared the Golden Boot with Salah and Mane this season (Picture: Getty)Arsenal are also fending off interest in Aubameyang’s strike partner, Alexandre Lacazette, with Barcelona reportedly plotting a big-money summer move for the France attacker.Asked about the rumours last week, Lacazette said: ‘If the club is really happy with me and I’m happy, I will stay. In France, they say 27, 28 is one of the best ages in your career.‘I wish it is not the last [good season] at Arsenal and I hope I will be better and better in the next years.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘I am feeling good. I play more with Unai [Emery] and have more confidence with him.‘Even if I can just say “thank you” to Wenger because he brought me into this big club, but I feel better with Unai.‘I finished well and I hope the long break is not going to kill me. I work in training to be ready.’ 1/1 Aubameyang removed his main picture and deleted his bio (Picture: Instagram)While some hope it may have something to do with Arsenal’s 2019/20 kit launch, a number of supporters began speculating that Aubameyang may have played his last game for the club.Here’s how fans reacted on Twitter… Aubameyang has removed Arsenal in his bio & his profile picture from his Instagram page only 12 hours after rumours linking him to China! 🤔💔 #AFC pic.twitter.com/XK6TgsC3gk— NJM™ (@ArsenalHQ19) June 4, 2019last_img read more

Panamanian airline begins direct service to Jamaica

first_imgTourism Minister Edmund Bartlett says COPA Airways has a level of connectivity throughout South America that is unparallel by any other airline of its size.KINGSTON, Jamaica — Panamanian airline COPA Airways has commenced twice weekly direct flights between Panama and Montego Bay.The inaugural service out of the Tocumen International Airport arrived at the Sangster International Airport here on Sunday with approximately 150 passengers.Tourism Minister Edmund Bartlett underscored the importance of partnerships with such airlines, noting that the emerging tourism markets of South America are being viewed by his ministry as a source of inbound air traffic to be tapped into, to cover eventualities within the traditional markets.“So, it is against that background that we looked hard and long, to see what was the best medium, what was the best carrier, what provided the best fit for Jamaica, at this time; what was most cost effective and what would give the efficiencies that we require to enable us to make that incursion and to do it quickly,” he stated.He added that several discussions were held with airlines across South America and, after lengthy deliberations, COPA Airlines was chosen for final negotiations.“Because COPA had a level of connectivity throughout South America unparallel by any other airline of its size,” he explained.COPA flights to Jamaica will mean 10,000 additional airline seats for the upcoming Winter Tourist Season.Jamaica has targeted US$850 million in earnings for the period with a 4.7 percent increase in visitor arrivals.With a fleet of 73 planes, COPA Airlines is projecting that nine new destinations would be added to its present route network by year end.This would provide a total of 293 daily flights to 49 cities in 28 countries across the American continent. Caribbean 360 News LifestyleTravel Panamanian airline begins direct service to Jamaica by: – December 15, 2011 32 Views   no discussions Share Sharecenter_img Share Sharing is caring! Tweetlast_img read more

Klopp calls for end to England’s fixture mayhem

first_imgShare on: WhatsApp London, United Kingdom | AFP |  Liverpool manager Jurgen Klopp on Friday stepped up his calls to protect players from burn-out after claiming England’s festive fixture pile-up was bad for the sport.Klopp is one of a growing number of Premier League managers frustrated by the demands placed on top-flight teams by England’s domestic competitions and television’s unquenchable thirst to show the games.Liverpool are down to 12 fit senior outfield players after a host of injuries in recent weeks, while Tottenham star Harry Kane suffered a torn hamstring on New Year’s Day and Newcastle lost four players in one match.Klopp believes coaches and football people should be included in the discussion with the sport’s governing bodies and television companies to ensure a proper solution can be found.“I told what I had to say to UEFA personally, I told FIFA sometimes in interviews because I don’t know anyone there and I don’t think the Premier League, FA (Football Association) or Football League are in any doubt of my opinion,” Klopp told reporters on Friday.“I just do that not because of me but because I think someone has to speak for the players.“If you have a good friend and you see him twice a year, brilliant. Best time of your life. If you see him every day you think after five days ‘What the heck?’. “But what we do is throw football at the people. How many games were on Boxing Day? There were maybe some men, probably, who watched all of them live.“I don’t think that’s good for their relationship. It’s not good for mine and I already watch a lot of football.”Klopp wants all parties to get together and come up with a sustainable plan and he has volunteered to attend.“The solution is to bring all these people together and try to think one time in all these negotiations about the players,” he added.“Other people are sitting there and they are not football people. We need to talk with football people, I think there is a solution possible.“We love this game but in the end we have to make sure that we can all come through and in the end the best team wins and not the most lucky with injuries. If you need me in the discussion I am pretty much there.”last_img read more

Netizens troll Sarfaraz Ahmed after Misbah-ul-Haq imposes strict rules on diet

first_imgAdvertisement 68lkNBA Finals | Brooklyn Vs77ldWingsuit rodeo📽Sindre E3x6n( IG: @_aubreyfisher @imraino ) 4634zep2Would you ever consider trying this?😱5urtCan your students do this? 🌚1Roller skating! Powered by Firework Pakistan head coach and former batsman Misbah-ul-Haq, has decided to ban biryani and other oil-based red meat dishes for his team to help his players get back into shape. The decision was imposed after the team was declared as one of the most ‘unfit’ sides in the world and the social media didn’t hold back to troll on this issue including their plus sized captain Sarfaraz Ahmed.Advertisement During the 2019 World Cup many people raised questions regarding the Pakistani team’s diet and fitness including their former pacer Shoaib Akhtar, who even called skipper Sarfaraz Ahmed as a ‘fat and unfit’ player after the loss against West Indies in the tournament opener. To make the matter even worse, there were some rumours that the team was seen eating junk food ahead of their match against arch-rivals India. Following their loss in that match, one crying fan complained that the Pakistani cricket board wasn’t aware of the fitness issues in the team. Therefore, Misbah’s decision to ban fat from the diet chart can prove to be a crucial step to reorganize the team under his guidance.Advertisement Our new coach “Misbah ul haq” has banned “Biryani” for cricket team . Oh man! He isn’t coming slow 🔥😎😂#PCB #Misbahulhaq— Wania hassan🇵🇰 (@Kathrin_bridges) September 17, 2019However, the Pakistani people’s love for biryani is a widely known fact and it seems that the cricketers will now have to adjust a life without this delicious item on their menu. But for the netizens, this incident was another opportunity to take a dig at the players on social media. Advertisementlast_img read more

Red Bank Charter School Proposes Expansion

first_imgImpact on public schools is a concernBy John BurtonRED BANK –  A plan to double the size of Red Bank Charter School is necessary in order to meet the needs of the entire community, said Meredith Pennotti, the charter school’s principal.But some traditional public schools supporters fear the increased size would compromise the budgets, resources and extracurricular activities for Red Bank’s diverse school population.And there are the taxpayers, who wonder what it would mean for their property tax bills – should the plan move forward.“The reality is this is not good for the children of Red Bank. It’s not good for the taxpayers of Red Bank. It’s not good for Red Bank,” stressed Jared Rumage, Red Bank superintendent of schools.“We feel we have a model that can be shared more in Red Bank,” for the educational community’s betterment, Pennotti said of the plans.In December, The Red Bank Charter School, 58 Oakland St., submitted a proposal to state Department of Education (DOE) Commissioner David Hespe in Trenton to increase enrollment and facility.Hespe is expected to make his determination toward the end of February, according to DOE spokesman David Saenz.The plan calls for doubling the school’s current student population to 400 from its current 200. That would be done over a three-year period period. In essence, it means adding an additional class of students per grade for the pre-K-8th grade school, according to Pennotti.For the past three years, Pennotti said the wait list for students has been “robust,” roughly 112 students, believing that filling the additional 200 seats is an easy call.The “clincher” for school officials in favor of seeking the expansion, according to Pennotti, was the availability of an adjacent property, 135 Monmouth Street, which the school would use for its S.T.E.M. (science, technology, engineering and math) lab and additional classroom and activity space.Another deciding factor for the school is recent changes in state education policy that allow other factors to be considered when evaluating students’ and families’ socio-economic status as part of admission.Charter school students are selected by an annual lottery, but siblings are accepted without submitting to the lottery. Last year, however, DOE officials changed the lottery to give more weight to family income and other factors, to give those students a better chance to be selected.“This will increase our ability to serve the economically disadvantaged,” Pennotti said.The charter school is increasing its community outreach by mailing a bilingual application to every residence in the community that also makes families aware of the changes in the lottery system, according to Pennotti.Concern about how a proposed expansion of the Red Bank Charter School could impact public schools drew people to the borough’s middle school auditorium Wednesday. They marched to the Borough Council meeting at Borough Hall. Photo: Tina ColellaThe fact that the charter school population is significantly less diverse than the public school population and the community at large has long been a source of contention. Early in the charter school’s history, which was established in 1998, the district Board of Education waged a lengthy and rather bitter legal battle arguing the school allowed for creating a segregated school district, providing for “white flight” from the public school – on the taxpayer’s dime. The lawsuit was eventually unsuccessful and the two entities had entered into a sort of separate peace, letting live and let live, until this development.Increasing the enrollment, fears Rumage, “It is fairly accurate to say that funding would double over that period.” And given the state finances, no one expects funding from Trenton to increase in an appreciable way, he added.The public school district is currently required to provide $1.67 million for the 2015-2016 school year to cover 90 percent of the cost to provide under state guidelines what is determined to be a “thorough and efficient education.” It is up to the charter schools to find the additional 10 percent of the cost and provide and upkeep a facility.Should the state education commissioner allow this plan, departing students will result in less state education aid to the district. And that Rumage maintained, would mean having to raise property taxes, likely to the maximum 5 percent cap, to cover some of the shortfall. And given those limitations, he said, the likely scenario would mean cuts to programs, possibly eliminating positions and abandoning some programs.“It will lead to cuts here that will be devastating,” Rumage said. “I can’t emphasize that enough.”Pennotti countered, saying state aid dollars follow the student, so that money wouldn’t have gone to the district anyway and any decision the charter school makes has no impact on the public school budget.“What happens to the tax rate is the decision the borough makes in its spending,” Pennotti argued, referring to the borough board of education. “We have no input in the school budget.”The charter school was established by activist parents in the late 1990s when Gov. Christine Todd Whitman signed the legislation allowing for such schools to operate. In Red Bank the school was in response to a failing public school district, with rundown facilities and dismal test scores.Charter schools are public schools but have greater freedom and are exempt from much of the bureaucracy that critics say bogs down traditional public education. This freedom, charter school supporters argue, allows for more creative and effective education and gives families a choice.Families braved bitter cold Wednesday night to express concern about proposed plans for a charter school expansion. Photo: Tina ColellaRumage insisted, “I’m not anti-charter school. I’m just anti-expansion,” at this point. He hoped the charter school would postpone the expansion to give the district time to evaluate its situation.Pennotti dismisses the idea of waiting. “Waiting for what?” she asked. “We waited for a promise of a new day from five superintendents,” to turn around the public schools in the 18 years the charter school has been operating. Pennotti maintained her school’s standardized test scores far exceed the public schools’ and “for the sake of the children we have to move forward.”Rumage, who has been in the district for less than two years, fired back that Pennotti and others have mischaracterized the public school students’ achievements. “The big issue here is that people don’t know the full story,” and the strides the public district has been making over the years.The public school disproportionately faces more challenges than the charter school population. Ninety percent of the 1,410 students at the middle and primary schools qualify for (mostly) free and reduced cost lunch, a traditional measure of family income levels. The population also includes 33 percent of students who are limited English language proficient.By contrast, 52 percent of charter school are white (as compared to the 8 percent in the public schools), with a 4 percent population that is limited English-language proficient. The charter school population is 34 percent Hispanic; the public school population is 78 percent Hispanic. The number of charter school students who qualify for the free and reduced cost lunch is currently 38 percent.And some sources indicate that the per pupil funding results in the charter school receiving $2,000 more per student, per year.Julia Sass Rubin, an associate professor at Rutgers University’s Edward J. Bloustein School of Planning and Public Policy, and an adjunct professor at Princeton University, has been studying Red Bank and its Charter School as part of her research on state funding of charter schools. Her analysis indicates the charter school has yet to live up to its potential even with its additional resources and continues to contribute to a segregated school district. “The data is pretty straightforward,” she said. “The district is underfunded relative to the charter school, under the current formula.”And when factoring in other variables, the larger percent of special needs students, among others, the divide is closer to $5,000 more per charter school student. And taking all of that into consideration, Rubin said, “if you look at all of those considerations, the charter school is really underperforming,” she said.In her final analysis, this expansion, “would either be devastating for the district or devastating for the taxpayers.”It should be noted Rubin has her detractors. In response to a report on charter school funding, enrollment and demographics she did with a doctoral candidate Mark Weber last year, the New Jersey Charter School Association, a charter school advocacy group, took Rubin to task. The association accused Rubin of having a personal agenda against charter schools.Rubin, this week denied that, offering, “Am I pro-public schools? Absolutely. But I’m not anti-charter school,” noting her daughter had attended a charter school for couple of years and Rubin had served on a nonprofit board that provided charter school facility funding.Rubin planned on providing her research to local educational and elected officials on Friday.This debate has spilled over into the political arena, as well. Mayor Pasquale Menna at this year’s annual reorganization meeting called it “The elephant in the room.”While the borough council has no formal say in the matter or decision, Menna plans to form a “blue ribbon committee,” of objective educational and financial professionals to evaluate the plan’s impact. Their report will be submitted to the DOE for consideration.In addition, on Wednesday evening the borough council was expected to vote on a nonbinding resolution asking the charter school to delay any actions until more information can be collected.Council sources said there was unanimous and bipartisan support for the resolution.last_img read more

West Kootenay athletes score medal haul at B.C. Seniors Games

first_imgThe team of Rene Forrest, Lee McNeill, Rusty Denny, Blaine Rains and Linc Vital won the team bronze. Lee McNeill added silver for female high pins over average and bronze for female high single over average. Rains won the silver for male high pins over average. Jack Parr captured the bronze for male high pins over average.Marylee Banyard won a handful of medals in the pool, finishing the games with three bronze, two silver and a gold in women’s 75-79 individual medley.Badminton star Roger Kerby won bronze in competitive singles while Clint Saunders captured the bronze in track and field, finishing third in men’s 70-74 javelin. Wife Barb Saunders won four gold on the track while adding a silver medal in the women’s 70-74 200 meters. The gold medals came in 400, 800, 1500 and 5000 meter races.Elizabeth Zemmels won a pair of silver medals in tennis.Golfers Lee Waddell and Lorraine May each won gold in their respective age groups. George Forrest, John Kazakoff, John Van Loon and William Kalyniuk also won net gold medals on the links. Jim Mattice took home a bronze for his gross score.On two wheels, B.C. Senior Games’ rookie Mike Adams won gold, silver and bronze while Olwyn Ringheim won a pair of gold medals in women’s 80-84 category.The 2011 B.C. Seniors Games in the West Kootenay is scheduled for August 16-20.Athletes 55 years and older compete in more than 25 sports from badminton to bocce and slo-pitch to [email protected] By The Nelson Daily SportsIf this keeps up the West Kootenay Boundary Zone Six athletes will no doubt be challenging for top spot when the B.C. Seniors Games rolls into Trail/Castlegar/Nelson in August of 2011.The zone shot up the medal standings like a rocket to record its best finish in years with a whopping 111 medals during the 2010 B.C. Seniors Games Sept. 15-18 in Comox and Campbell River.Vancouver Island North won the overall title with 479 medals. In second was the team from the Fraser Valley followed in third by Lower Mainland. West Kootenay Boundary placed sixth overall.Headlining the medal parade was the bowling team from the Savoy Lanes.The team of Lola Swetlikoe, Audrey Kempin, Jack Parr, Effie Raines, Dawn Williams and spare Lorna Hamilton racked up the gold medal. Williams added a gold as high single at 267 and bronze for female high pins over average.last_img read more

Loe’s star is on the rise

first_imgANAHEIM – Kameron Loe would tell you it’s all been a blur, only that would infer some lengthy period of time that’s gone by quickly. He might honestly say he’s been surprised, but that would indicate he isn’t exactly where he always figured he’d be. Where Loe will be tonight is on the mound for the Texas Rangers, trying to hinder the Angels’ attempt at capturing the American League West title. After just over two years in the Rangers’ minor-league system, the former Granada Hills High and Cal State Northridge standout will be attempting to capture the 10th victory of his rookie season. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREThe top 10 theme park moments of 2019 “I’m really excited about going for my 10th,” Loe said. What the Angels will find tonight not exactly the typical right-hander. First there is his 6-foot-8 size. It can be intimidating. “I hope so anyway,” he said. There is the way he comes at hitters from two different arm angles. His cap will conceal a premature receding hairline and shaven head, though the goatee will be clearly visible. Then back at home is the boa constrictor, that for laughs, he sometimes brings to the clubhouse. center_img Loe, 24, will be making his sixth start of the season tonight since being called up in May and initially getting heavy work out of the bullpen. As a reliever he typically worked late innings, going 5-4 with a 4.17 ERA and one save. His work was strong enough that the Rangers – forever in need of starting pitching and having shuttled ex-Dodgers Chan Ho Park and Pedro Astacio – have given him a late opportunity at showing how he can perform as a starter. “It’s been a pretty successful year for me,” he said. “I’ve had a chance to show the team what I can do and hopefully solidify a spot for myself next year. “I was in the bullpen for quite awhile. It’s always been my goal to be a starter and now I’m trying to take advantage of it.” In his five starts this season, Loe has looked like someone finding themselves a home. He is 4-1 with a 2.32 ERA as a starter. “He’s going to be a starter next year,” said Rangers manager Buck Showalter. Showalter caught himself, like he was worried he’d already given him a spot in next year’s rotation, quickly adding this wasn’t really some late-season audition. “This isn’t exactly a tryout,” he said. “We know he can go out of the bullpen, and now he’s getting a chance to do it as a starter.” Loe credits his success this season – he also made his first career start last year against the Angels after a September call-up, earning a no-decision with four earned runs in four innings – to a familiar name. Rangers pitching coach Orel Hershiser. “It’s really helped working with Orel,” he said. “He’s taught be so much. He works on the mental approach and talks to me about using my legs and arm position.” But one of the first things Hershiser taught Loe was to simply trust his fastball. Hershiser said Loe normally throws in the low 90s, which is neither bad nor outstanding at the major-league level. “We had to take pitches away from him in the bullpen to prove to him his fastball really was good enough at this level,” Hershiser said. “It has real good movement. “In one game he struck out Alex Rodriguez on three fastballs. He never thought he could do that. “In the bullpen he learned his sinking fastball is good enough, now we’re finding out if the rest of his pitches are good enough for him to be a starter.” Hershiser knows Loe’s preference is to be a starter, but also realizes that’s the typical choice of most young pitchers. “I think he’s like a lot of young pitchers and has always wanted to be a starter,” Hershiser said. “Whether that’s the dream or reality is what gets answered at this level. “Every day is a tryout in the majors. Whether you’re a veteran trying to stay here or a young guy coming up from the minors trying to make it.” Loe fairly skyrocketed through the Rangers system after being selected in the 20th round in the 2002 draft. After a short-season rookie year, Loe spent most of the next season at Single-A Stockton. He split ’04 between Double-A Frisco and Triple-A Oklahoma, becoming the organization’s minor-league pitcher of the year, before his September call-up. After spending most of this season with the Rangers, Loe is beginning to feel comfortable at the major-league level. “I had 45-50 innings out of the bullpen and was put into a lot of pressure situations,” he said. “I learned to slow the game down quite a bit. “A lot of it comes just from experience. Before you might get a couple of guys on early with no out and go, ‘Oh, my God, I’m in trouble here. Now I’ve learned to take it one step at a time and it helps to take away the pressure.” Loe hopes a couple of final strong starts will have him penciled in the Rangers rotation going into camp next spring. It has been a furious rise though the Texas system for a 20th-round pick, somehow both surprising and expected. “I had all the confidence in the world in myself, but I didn’t know I would happen this fast,” Loe said. Steve Dilbeck’s column appears in the Daily News four times a week. He can be reached at [email protected] 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more