James A. Wilhelm, President and Chief Executive Officer, said, "I'm pleased to report a successful second quarter with results that were in line with expectations. With a 4% increase in our revenue and a 10% increase in paid exits at same location leases, we believe that the improving trends we noted in the past several quarters are continuing. Total gross profit decreased by 3%, as a 3% increase in same location gross profit was more than offset by the impact of certain anticipated location terminations. Our location and operating profit retention remain strong at 91% and 96% respectively. On the expense side, we're pleased to note that our G&A expense for the second quarter decreased by 5% as we continue to reap the benefits of the technology and process enhancements that we've spoken about repeatedly in the past. In fact, the second quarter G&A decrease would have been 9% had we not spent $0.4 million in the quarter for acquisition-related expenses on a transaction that we did not pursue. While this particular transaction did not proceed, we remain focused on enhancing our underlying, organic growth through significant strategic acquisitions."
Commenting on the Company's recently announced $20 million share repurchase authorization, Wilhelm stated, "We believe our current share price is significantly undervalued, and that buying Company shares therefore is one of the best current uses of our substantial free cash flow. For the year-to-date through the end of July, we have repurchased $2.2 million of common stock. Our relatively low cost of capital, low leverage and strong balance sheet, coupled with ongoing confidence in the business, enable us to return value to our shareholders through the share repurchases while we pursue strategic acquisitions."
Wilhelm concluded by stating, "Based on our first-half results and expectations for the remainder of the year, we're reaffirming our earnings per share guidance of $1.10 - $1.20. With strong first-half free cash flow, we're now expecting full year free cash flow to exceed $20 million."
2011年8月3日星期三
2011年6月15日星期三
City-GHI Stakeholder Meeting Tackles Tax Assessments, Power Outages and Crime Trends
In this economically challenging time, areas of common fiscal concern -- routine and controversial -- dominated the Greenbelt City Council’s joint work session with representatives of the 1,600-unit housing cooperative, Greenbelt Homes, Inc. (GHI), at Monday night’s city-GHI stakeholder meeting.
Seated around a large conference table, Mayor Judith “J” Davis, Mayor Pro Tem Emmett Jordan and other City Council members engaged in an exchange with six of the nine members of the GHI Board of Directors and GHI general manager Gretchen Overdurff, who discussed topics as diverse as walkway lighting, the city’s 75th anniversary celebration, crime, right of ways, snow, water meters and piping.
Lighting
Several GHI board members expressed concern that the well-used inner walkway between 11 Court and 13 Court of Ridge Road that directly connects it to Crescent, near the community center, is poorly lit at night. While GHI normally responds directly to member requests for lighting improvements, the oval strip of land along the pathway is city property.
Overdurff stressed that GHI would share the results of assistant general manager Eldon Ralph’s consultations with a contractor and that GHI would consider helping to pay for improved lighting. Mayor Davis said that the City Council would study walkway usage; replacement of, repairs, or additions to existing lighting infrastructure; as well as survey neighbor opinions about lights.
75th Anniversary Celebration
Mayor Davis briefly listed events planned for the 75th anniversary of the founding of Greenbelt, including a three-day symposium, house and garden tours and a gala dinner. Anniversary committee member and GHI board member, Irv Wartell, reminded everyone about plans to sell commemorative T-shirts and hats.
Mayor Davis noted that the committee selected events from more than 500 suggestions, but she invited other Greenbelters to plan and staff events as well as come up with creative ideas, since volunteers are “what makes Greenbelt, Greenbelt," she said. The mayor also reminded council and GHI that the anniversary celebrates the entire city, not just GHI pioneers and the founding of historic Old Greenbelt, and that the events should include and involve all parts of the city.
GHI president Tokey Boswell stressed the need for volunteer-driven shuttles and parking enforcement during the celebration period to minimize the impact on the center of town.
Crime Trends
Greenbelt police officer Carl H. Schinner reported on the city crime statistics for GHI and Old Greenbelt. He praised the new crime mapping system for spotting trends and stated that this year, so far, there were only six burglaries and eight robberies, including the armed robbery at the Greenbelt Credit Union, which he suggested were relatively low figures compared to the rest of Prince George’s County.
Seated around a large conference table, Mayor Judith “J” Davis, Mayor Pro Tem Emmett Jordan and other City Council members engaged in an exchange with six of the nine members of the GHI Board of Directors and GHI general manager Gretchen Overdurff, who discussed topics as diverse as walkway lighting, the city’s 75th anniversary celebration, crime, right of ways, snow, water meters and piping.
Lighting
Several GHI board members expressed concern that the well-used inner walkway between 11 Court and 13 Court of Ridge Road that directly connects it to Crescent, near the community center, is poorly lit at night. While GHI normally responds directly to member requests for lighting improvements, the oval strip of land along the pathway is city property.
Overdurff stressed that GHI would share the results of assistant general manager Eldon Ralph’s consultations with a contractor and that GHI would consider helping to pay for improved lighting. Mayor Davis said that the City Council would study walkway usage; replacement of, repairs, or additions to existing lighting infrastructure; as well as survey neighbor opinions about lights.
75th Anniversary Celebration
Mayor Davis briefly listed events planned for the 75th anniversary of the founding of Greenbelt, including a three-day symposium, house and garden tours and a gala dinner. Anniversary committee member and GHI board member, Irv Wartell, reminded everyone about plans to sell commemorative T-shirts and hats.
Mayor Davis noted that the committee selected events from more than 500 suggestions, but she invited other Greenbelters to plan and staff events as well as come up with creative ideas, since volunteers are “what makes Greenbelt, Greenbelt," she said. The mayor also reminded council and GHI that the anniversary celebrates the entire city, not just GHI pioneers and the founding of historic Old Greenbelt, and that the events should include and involve all parts of the city.
GHI president Tokey Boswell stressed the need for volunteer-driven shuttles and parking enforcement during the celebration period to minimize the impact on the center of town.
Crime Trends
Greenbelt police officer Carl H. Schinner reported on the city crime statistics for GHI and Old Greenbelt. He praised the new crime mapping system for spotting trends and stated that this year, so far, there were only six burglaries and eight robberies, including the armed robbery at the Greenbelt Credit Union, which he suggested were relatively low figures compared to the rest of Prince George’s County.
2011年5月5日星期四
Range Rover Evoque in 5-door and Coupé forms goes on sale in September 2011
With a choice of three engines, two body styles, three design themes and a wide range of options and accessories, the new Range Rover Evoque offers customers significant choice across a range of price points.
Land Rover has announced that new Range Rover Evoque prices in the UK will start from £27,955 for an eD4 Pure 5-door 6 Speed manual 2WD model. The 4WD equivalent is priced at £28,705. The top-of-the-range Si4 6 Speed automatic Dynamic coupé with LUX pack is available for £44,320.
The Range Rover Evoque will be offered in both 5-door and Coupé forms and will go on-sale from September 2011. A smooth and refined powertrain line-up is available with a choice of state-of-the-art diesel or petrol engines.
The updated 2.2-litre turbodiesel has 150PS or 190PS derivatives. The 2WD (on-sale early 2012) Coupé version combined with the 150 PS 2.2-litre engine is set to achieve sub 130g/km CO2.
The new 240PS 2.0-litre Si4 petrol engine combines direct fuel injection, turbocharging and twin variable valve timing for exceptional driveability and fuel-efficiency and delivers 0-60mph in 7.1 seconds.
In place of a traditional trim hierarchy, customers can choose from three distinct design themes, which include many features as standard. A wide range of personalisation opportunities are also available, allowing customers to fully tailor the Evoque to individual tastes and requirements.
Options available include 12 exterior colours, three contrasting roof treatments, seven alloy wheel designs, 16 contrasting interiors and a full sized, fixed, panoramic glass roof. A new online configurator goes live today, making it simple for customers to create their perfect Range Rover Evoque.
The Range Rover Evoque is available in two body styles – a Coupé and 5-door. The Coupé provides two individual rear seats, with the option of three-seat bench if preferred. The Evoque 5-door extends the appeal of the model even further by offering greater practicality and family appeal. The roofline stands 30mm higher than the Coupé, which delivers extra head and shoulder room for rear seat passengers.
The Range Rover Evoque is available with a choice of powertrains, both petrol and diesel with six-speed manual and automatic transmissions, and, for the first time in a Range Rover, the option of 2WD (front wheel drive) as well as 4WD.
Land Rover has announced that new Range Rover Evoque prices in the UK will start from £27,955 for an eD4 Pure 5-door 6 Speed manual 2WD model. The 4WD equivalent is priced at £28,705. The top-of-the-range Si4 6 Speed automatic Dynamic coupé with LUX pack is available for £44,320.
The Range Rover Evoque will be offered in both 5-door and Coupé forms and will go on-sale from September 2011. A smooth and refined powertrain line-up is available with a choice of state-of-the-art diesel or petrol engines.
The updated 2.2-litre turbodiesel has 150PS or 190PS derivatives. The 2WD (on-sale early 2012) Coupé version combined with the 150 PS 2.2-litre engine is set to achieve sub 130g/km CO2.
The new 240PS 2.0-litre Si4 petrol engine combines direct fuel injection, turbocharging and twin variable valve timing for exceptional driveability and fuel-efficiency and delivers 0-60mph in 7.1 seconds.
In place of a traditional trim hierarchy, customers can choose from three distinct design themes, which include many features as standard. A wide range of personalisation opportunities are also available, allowing customers to fully tailor the Evoque to individual tastes and requirements.
Options available include 12 exterior colours, three contrasting roof treatments, seven alloy wheel designs, 16 contrasting interiors and a full sized, fixed, panoramic glass roof. A new online configurator goes live today, making it simple for customers to create their perfect Range Rover Evoque.
The Range Rover Evoque is available in two body styles – a Coupé and 5-door. The Coupé provides two individual rear seats, with the option of three-seat bench if preferred. The Evoque 5-door extends the appeal of the model even further by offering greater practicality and family appeal. The roofline stands 30mm higher than the Coupé, which delivers extra head and shoulder room for rear seat passengers.
The Range Rover Evoque is available with a choice of powertrains, both petrol and diesel with six-speed manual and automatic transmissions, and, for the first time in a Range Rover, the option of 2WD (front wheel drive) as well as 4WD.
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