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REDMOND, Wash. — Oct. 21, 2008 — Microsoft Corp. nowadays announced that catalyst Manufacturing capabilities, a compress electronics company with operations in North Carolina’s research Triangle, Endicott, long island, and Mexico, has chosen Microsoft Dynamics NAV 5.0 to control its advanced enterprise and gasoline future increase.
Microsoft Dynamics NAV, to live applied across Catalyst’s facilities with the aid of Microsoft Gold licensed associate Western computer, will substitute an current MAPICS enterprise aid planning (ERP) device that catalyst felt become turning out to live increasingly antiquated and fell in requisite of the performance the enterprise mandatory to acquire its company to the next degree, which includes projected double-digit earnings boom subsequent 12 months.
“Microsoft Dynamics NAV makes it feasible for us to rush their operations with far improved precision and puts us in the driving seat to head after traffic alternatives,” mentioned Mary Roberts, chief fiscal officer at Catalyst, which caters to groups within the militia, aerospace and medical markets. “Its capabilities will enable us to acquire catalyst to the next stage in its construction.”
Microsoft Dynamics NAV is an ERP solution that enables midsize groups to streamline their monetary, manufacturing and distribution operations to develop their company, boost productivity, enrich collaboration, travail smarter, drive down prices and address specific traffic needs.
Catalyst chose Microsoft Dynamics NAV over solutions from Oracle Corp., EPICOR utility Corp. and Made2Manage following a rigorous eight-month evaluation manner because, not enjoy the competing options, it confirmed the faculty to address the breadth of Catalyst’s wants out of the field, with out modification or the requisite to add third-birthday celebration functions.
Catalyst executives were moreover keen on the low discovering curve its employees, already fluent in Microsoft workplace, pan in getting up and working with Microsoft Dynamics NAV. The solution is seamlessly integrated with office and contours a nearly identical user interface, so cessation clients can procure up to hurry with minimal working towards.
Catalyst expects Microsoft Dynamics NAV to generate assorted enterprise merits and deliver on its core strategic pursuits, enabling the traffic to capitalize on alternatives and proceed its efficient growth trajectory:
Integration. catalyst is enforcing Microsoft Dynamics NAV because the cornerstone of a complete refresh of its IT infrastructure that contains deploying a current datacenter running Microsoft SQL Server 2008, with which Microsoft Dynamics NAV is natively built-in. The open requirements-based mostly respond is additionally absolutely interoperable with the Mechanical Execution paraphernalia (MES) catalyst is rolling out to desktop staff on the manufacturing facility ground to capture records at the factor of manufacture. This facts will live fed again into Microsoft Dynamics NAV to complement and inform choice-making.
business-particular necessities. Microsoft Dynamics NAV will permit catalyst to rush a decent ship, protecting a great-tuned operation with timely procurement and simply-in-time inventory to sojourn on top of customer orders. compress producers are commissioned with the aid of businesses to defer inescapable gadgets to order, for which they should supply certainly exact ingredients from officially accredited carriers. This makes it essential for catalyst to live able to trace the origins of the components it makes expend of and song their individual serial numbers throughout its operations. Microsoft Dynamics NAV gives catalyst this all-important skill, which is incredibly prized by means of its client base.
information accuracy. The means to song constituents, correct entire the way down to their individual serial quantity and supplier of starting place, across its operations will permit catalyst to compose sure its records integrity is of the optimum order. here's anything Catalyst’s existing respond could not accomplish and an integral for the firm’s drugs and aerospace customers, which Have strict necessities. Executives weigh on that the means will supply catalyst an impressive competitive differentiator and live chiefly useful in situations where individual accessories are belt to recollects, permitting personnel to directly harmonize to edicts from consumers and suppliers.
Efficiencies. Microsoft Dynamics NAV will give catalyst a tighter handle on its stock and logistics operations, permitting it to coordinate the allocation of substances throughout its operations and source devices from one site to top off stocks at an extra because the want arises.
can impregnate discounts. Microsoft Dynamics NAV will supply catalyst a standardized company management platform with which to consolidate deciding to buy throughout its operations and generate economies of scale.
assist for increase. via wholly automating its processes and making information greater discoverable throughout its operation than it at present is, catalyst expects to live in a position to swirl round costs for valued clientele more without delay, with the capability to transmit them electronically over the internet. The enterprise expects the increased consumer responsiveness and enterprise agility to result in further orders.
superior reporting. Microsoft Dynamics NAV will outfit catalyst executives and managers with a panoramic window into their operations, enabling them to song orders, stock degrees, creation reputation, labor utilization and other variables, and display screen how they're monitoring in opposition t efficiency goals. Officers should live in a position to export records into excel with a lone mouse-click on to drill down and function refined analytics to glean enterprise insights, establish traffic opportunities and seize issues worrying remedial action at their earliest probability. Executives moreover anticipate that Microsoft Dynamics NAV will outfit them with richer facts about purchasers and their purchase histories, allowing them to precisely establish move-promoting and up-promoting alternatives.
give chain administration. Microsoft Dynamics NAV will permit catalyst to interact greater effectively with its suppliers than it's at present able to. a lot of its suppliers are moreover automating their operations and increasingly anticipate their trading partners to attain the same.
determination support. The company expects the enhanced visibility into its overall enterprise will pressure timelier, more suggested determination-making than is viable with its existing gadget, enabling it to establish prospective alternatives past, and procure out ahead of talents issues.
decreased IT management overheads. a less complicated-to-administer ERP device will liberate Catalyst’s IT team of workers to pursue greater strategic travail that without detain contributes to the company’s basis line.
stronger potential to plan. The tighter grip on its operation that Microsoft Dynamics NAV affords will permit catalyst to live even more facts-driven in its inventory planning, construction scheduling and economic forecasting.
“Microsoft Dynamics NAV enables manufacturing corporations to shine a magnificent highlight across their operations and station determination-making on the rigorous, data-driven footing that their consumers demand,” spoke of Michael Park, corporate vp for the U.S. minuscule and Midmarket solutions & companions (U.S. SMS&P) community at Microsoft. “With Microsoft Dynamics NAV, they are in a position to pass the hullabaloo and acquire can impregnate of their operations to power future success.”
About catalyst Manufacturing functions
Catalyst Manufacturing features is a replete carrier compress manufacturing company with locations in Endicott, the broad apple, Raleigh, NC, and Tijuana, Mexico. Catalyst’s offerings include product design assistance, documentation building, PCB assembly and check, box build, order achievement/logistics, and depot restore features, entire inside a standardized gadget and systems platform. For more assistance, hunt advice from www.catalystems.com.
About Western desktop
since 1987, Western computing device has been providing implementation, practising, consultation and building for customers of every size with turnkey consulting, programming, setting up and training on custom-made applications for ERP, CRM, supply chain management and company intelligence. A Microsoft Gold certified accomplice, Western computing device is headquartered in Oxnard, California, with offices in Bellevue, Washington, broad apple, Pittsburgh, Atlanta, and Indianapolis.
About Microsoft Dynamics
Microsoft Dynamics is a line of financial, customer relationship and supply chain management options that helps groups travail greater readily. Delivered via a community of channel partners proposing really estimable capabilities, these integrated, adaptable company administration options travail enjoy and with common Microsoft application to streamline processes throughout a total business.
founded in 1975, Microsoft (Nasdaq “MSFT”) is the international leader in application, services and options that assist individuals and organizations recognize their replete competencies.
note to editors: in case you Have an interest in viewing additional info on Microsoft, delight hunt advice from the Microsoft net page at http://www.microsoft.com/presspass on Microsoft’s corporate suggestions pages. internet hyperlinks, cell numbers and titles were suitable at time of book, however may additionally due to the fact Have modified. For further information, journalists and analysts may moreover contact Microsoft’s rapid Response team or other applicable contacts listed at http://www.microsoft.com/presspass/contactpr.mspx.
Vjekoslav Babić is an impartial Microsoft Dynamics NAV consultant, trainer, writer and blogger, with 10 years of flavor in NAV and sixteen years of adventure in IT.
As a solutions architect and a undertaking manager with a number one Microsoft Dynamics President's membership service issuer business, as a Microsoft Dynamics NAV consultant with Microsoft capabilities, and as an unbiased consultant, he has been engaged on Microsoft Dynamics NAV implementations ranging from tiny one-man-bands to international mega-organizations, providing features and trainings in entire places the world.
In 2008, Vjekoslav co-authored the acclaimed ebook "implementing Microsoft Dynamics NAV 2009". Vjekoslav runs an active blog about NAV implementation, job management and development most excellent practices, acts as a columnist and editorial advisory board member at MSDynamicsWorld.com, and as a columnist in a number of other net or printed periodicals in Croatia and international. Vjekoslav is additionally a usual speaker at Microsoft or Microsoft Dynamics conferences.
because spring 2010, Vjekoslav has been awarded the distinguished Microsoft Most valuable skilled (MVP) award for Microsoft Dynamics NAV.
greater about Vjekoslav Babic
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(Sharecast News) - Analysts at Jefferies reiterated their 'underperform' rating on standard Chartered on Tuesday as it sounded a cautious note on the group's shares.
Jefferies pointed to the declining trend in consensus estimates for the lender and the multiple hurdles that it was facing in terms of growing its revenues, which they said may necessitate a downgrade of management's expectations.
The consensus forecast for the rate of growth in the lender's revenues for 2019-2021 was roughly 5.0%, which was already at the lower cessation of management's expectations.
Nonetheless, among the risks that StanChart was facing were slower loan growth in Hong Kong and Singapore, a scant tailwind from rising interest rates and its net interest margins may Have peaked in the third quarter at 1.6%.
"Thus, consensus estimates scrutinize challenging and management's medium-term aspirations may requisite to live downgraded to reflect such considerations. They note risk for further downgrades: their underlying pre-tax earnings forecasts for '19-21E are c15% below the Street," Jefferies added.
According to the investment bank, StanChart moreover needed to provide a convincing glide path as to how it was expecting to deliver returns greater than 10% within a reasonable time-frame.
"On newly established '21E forecasts, their models contemplate a ROTE of 5.6% on a CET1 ratio of 14.1%."
Analysts at Berenberg dropped their expense target on miner Petra Diamonds on Tuesday, stating that while the group's operations appeared to live performing "fairly well", debt was still an issue.
Berenberg preeminent that after a term of extended capital expenditure, the diamond miner's major capital projects were now broadly online and delivering tonnage as expected
However, analysts said equitable realised prices at Petra's Cullinan mine, being a key value driver for the group, were underperforming and believes the miner was yet to note any clear signs of a turnaround.
"Therefore, while the operations themselves are performing fairly well, what cash flow Petra generates is predominantly consumed by its debt commitments, whether this live in the profile of servicing its $650m bond or its BEE debt," said Berenberg.
"We find that on a NAV basis, while the company's assets Have significant value ($800m-plus), the amount of debt currently on the structure consumes much of this value and results in a just value of basically where the partake expense is today."
While dropping its expense target on Petra from 37p to 30p, Berenberg reiterated its 'hold' rating on the group.
Analysts at Shore Capital reiterated their 'hold' stance on Greggs on Tuesday, stating that the company continued to "materially outperform" their expectations.
"Stunning" like-for-like growth of 9.6% in company-managed shops led the analysts to admit underestimating Greggs.
Consequently, they upgraded their below-consensus full-year 2019 CPTP forecast by approximately 10% to £102m, earnings per partake of 79.0p.
Dividend per partake was now seen rising by 16% to 41.6p in 2019, before climbing by a further 7% to 44.4p in 2020.
The broker's analysts commented that the boost to the baker's already tough trading followed towering levels of media interest and "extensive publicity" surrounding the launch of the group's 'vegan friendly' sausage roll at the start of the financial year, despite the derision directed at the pastry by one Piers Morgan.
"Customer transactions Have increased and with the volume growth evident across the savoury category the tough trading has also, they believe, generated considerable operational gearing benefits across both the store basis and manufacturing infrastructure," they said in a research note sent to clients.
Whilst Greggs has stated that trading "eased slightly" through February, which analysts estimate to weigh a drop from approximately 11% growth in January to roughly 8% growth, trading is still on course to live ahead of market expectations, ShoreCap said.
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Low & Bonar PLC (LON:) announced a fully underwritten £54m placing and open offer (c £50m net) alongside FY18 results. The current equity funding goes a long way towards resolving poise sheet net debt constraints and allows the relatively current management team to execute its updated strategic plan. Their revised estimates incorporate the funding effects, more gradual EBIT margin recovery and reset dividends in line with the stated policy.
Low And Bonar
FY18 results reflect a challenging year
FY18 results themselves were broadly in line with their estimates – albeit with a lower final dividend – as was year-end net debt. Input expense increases and production issues (in building & Industrial and Coated Technical Textiles) were a drag on financial performance though the return to Civil Engineering profitability is a welcome development ahead of the intended disposal of that division. The final dividend was below their expectations but understandable given the requirement to raise fresh equity funding to repair the company’s poise sheet. For the record, net debt at the cessation of FY18 was £128.5m, c £10m lower than a year earlier.
Busy agenda for the current management team
Management actions to change the group structure and reduce costs were barely visible in the FY18 results but they should further capitalize operating and financial performance. The re-financed poise sheet will uphold capex to upgrade core manufacturing operations and product innovation with the point of growing ahead of GDP in the regions served. With a replete agenda for the current senior management team, they Have further trimmed their divisional margin estimates for FY19 and FY20 giving mount to 7–8% EBITDA reductions and adjusted for lower interest costs after the equity raise. Their estimates moreover reflect an increased number of shares in issue (+ c 360m to c 690m) and a re-set dividend cover policy of approximately 2.5x.
Valuation: Re-building earnings
The announcement to raise current equity has brought some relative stability to Low & Bonar’s partake price, which had tracked lower during 2018. On their revised estimates, which assume that the equity issue is approved by shareholders, the company’s EV remains below 0.5x revenue and sits at 5.5x FY19 EBITDA (adjusted for pensions cash); these multiples are comparable to the levels for FY18 in their December note. On a P/E basis, the FY19 multiple is 8.1x, and applying the restated dividend policy generates a 5.0% dividend defer at the current partake price. They project an NAV of 27p for the cessation of FY19, with primary adjustments for the additional shares in issue and FY18 impairment charges compared to their eventual note.
Share expense Performance
FY18 results overview
On a like-for-like, constant currency basis, Low & Bonar increased revenue slightly in FY18, but a combination of market challenges and some internal process issues resulted in a significant drop in profitability. Despite this, improved working capital management enabled some reduction in net debt over the year. A post year cessation £50m equity fund-raising eases poise sheet constraints and should permit higher levels of investment in the core business. The dividend policy was moreover restated at this time; their revised estimates reflect this and a slower EBIT margin recovery than previously expected.
At the cessation of 2018, Low & Bonar established the Colbond division through the merger of its building & Industrial and Interiors & Transportation divisions, which partake common manufacturing processes. Aggregating the FY18 trading results for these businesses generates combined revenue and operating profit (before unallocated costs) of c £216m and £25.4m, respectively. The division is to live rush on a three-region basis (Americas, EMEA and Asia-Pacific), replacing the previous global traffic unit (GBU) structure. The following sections dispute FY18 performance under the reported GBU structure.
Building & Industrial (B&I) – profit reduction due to markets and manufacturing
Technical textiles, mats, composites and systems for a range of applications
In underlying terms (ie adjusting for exited agro-textiles activities and FX), the B&I division achieved marginally better sales than the prior year but a significant reduction in profitability. Two of the three traffic segments in this GBU grew constant currency sales year-on-year – building (+3.6%) and Industrial (+6.8%) – though they believe that the rate of progress was below that achieved in H1 in both cases. Nevertheless, this represented estimable progress, which was largely offset by an 11.4% revenue decline at Enka. Following the transfer of this traffic from the Civil Engineering traffic at the birth of the year, integration issues were flagged, contributing to a 6.8% sales reduction in H1; this and some production disruption at Asheville, NC, appears to Have coincided with a significant US customer completing an exclusivity agreement and may Have contributed to an implied larger year-on-year revenue dip in H2.
Despite the Enka situation, competitive European roofing markets and restricted polymer expense pass through success, B&I did deliver an improved operating margin in H2 (ie 8.1% versus 7.2% in H1), although it was 430bp lower for the year as a total at 7.7%. Investment at Enka to improve plant and operational efficiency should improve performance and traffic amalgamate as FY19 develops and a stable polymer pricing environment would facilitate better input cost recovery, they believe.
Interiors & Transportation (I&T) – market growth and investment
Leading provider of technical non-woven carpet-backing materials, branded as Colback
In underlying terms, with mid-single digit revenue growth and a broadly similar operating profit to the prior year, I&T was the best performing traffic unit in the group in FY18. They note that the rate of progress was not much slower in H2 however. Flooring is the largest segment addressed and with growth in entire of the main regions served, underlying revenue rose by 8.7%. Increased capacity and volume from a current line in China was a significant contributor here, but there was moreover growth with key accounts elsewhere, notwithstanding competitive challenges. In contrast, in the automotive segment end-market exact amalgamate in the US and cost pressures in Europe led to an underlying 5.7% revenue decline.
While the achieved FY18 operating margin did decline (by 120bp to 14.7%) they account this to live a respectable performance in the light of polymer input cost pressures and adverse amalgamate effects and still at a estimable flush overall. Apart from the second Colback line at Changzhou they are not vigilant of any other structural traffic changes during the year. That said, the US production facility at Asheville, NC, has been earmarked for a capex programme (c £10m over the next three years) to multiply operating efficiencies towards facilities with similar lines in Europe and China. While piece of this relates to Enka (see B&I), other investment relates to carpet-backing products. Of course, I&T was combined with B&I to profile Colbond at the birth of FY19 and greater co-ordination between the regions in this way is a natural progression in their view. In outlook terms, management appears confident in growth prospects in I&T’s markets. The extent to which Low & Bonar can participate in this and moreover deliver increased profitability will partly depend upon improvements in production processes, they suspect.
Coated Technical Textiles (CTT) – addressing process challenges to improve efficiency
Specialist coated woven carrier fabrics for a range of primarily outdoor applications
CTT revenue was slightly higher in FY18 and, they believe, at a record flush despite fire-related disruption at the division’s coating facility at Lomnice during H2. Given that volume and amalgamate were both adverse influences on revenue progress, they conclude that the sale profile was characterised by shorter runs of higher-value/higher-material content lines relative to the prior year. No sector-specific splits were provided but an increased jaundice towards tarpaulins and sports/leisure applications (and a lower symmetry of tensile architectural membranes) is consistent with this profile. There may moreover Have been an element of inventory reduction supporting divisional revenues.
However, achieved profitability remained under pressure with a 490bp EBIT margin reduction (to 1.8%). Deteriorating like-for-like profitability as the year progressed was partly influenced by the Lomnice fire referenced above. Production inefficiencies during line changeovers has been highlighted previously by management but a root and offshoot process review has been undertaken, highlighting a number of inter-related process challenges. Under-investment appears to Have been at the heart of these issues, which is being gradually rectified. Some product reformulation has been required and the associated re-certification process is expected to live complete by the cessation of H119. The objective is to become a more agile and efficient organisation in entire respects and improve quality, reliability and service levels with customers. This will not live an overnight process but in setting a return to high-single-digit margins the direction of travel is clear. Reflecting recent performance, they note that the poise sheet goodwill associated with this division was fully impaired in FY18.
Civil Engineering (CE) – improving profitability ahead of divestment
Geotextiles and construction fibres contributing to groundworks integrity in infrastructure projects
The closure of the loss-making Ivanka plant (as reported in H1) accounted for slightly more than the headline revenue reduction in this division but moreover had a favourable impact on amalgamate and profitability. For the ongoing businesses, needle-punched non-woven fabric/barrier material sales increased by 3.8%, while construction fibre cement additives declined by 6.9%, and they assume other non-woven/woven lines were somewhere in-between though this was not specified. Given a number of structural changes within this division, it is difficult to appraise the extent to which its competitive position has altered. They would anticipate that the traffic proposition is now a narrower, better-defined product offering backed by a more-focused salesforce and a more usurp cost structure.
CE’s return to profitability in FY18 is a notable achievement; while replete year EBIT was just £0.1m this included a £1m profit in H2, reversing a similar loss in H1. While there is some favourable seasonality here, they note that underlying revenues in H2 were broadly the identical year-on-year but with a £1.3m improvement in H2 EBIT year-on-year giving a estimable indication that cost reduction actions taken by the current management team Have been effective. They account that the return to profitability together with reduced poise sheet pressure following the group equity raise should live helpful to Low & Bonar as a vendor of this business. Attributable net assets were c £19m at the cessation of FY18 and until any divestiture is announced, CE will continue to live included as a contributor to their group estimates.
Significant non-underlying items, mainly non-cash
For the FY18, Low & Bonar’s income statement included a £58.9m exceptional impregnate before tax for non-underlying items1 relating to continuing operations. They estimate that c £46m of the impregnate was non-cash; approaching half of the c £13m cash impregnate flowed out during FY18 and a further c £4m is included in their model for FY19.
The largest lone item was the £39m replete impairment of CTT goodwill and, together with some smaller items, the total for this traffic unit was £40.7m. Other charges were
£8.4m Central/unallocated, around half of which was restructuring and half for an additional pension funding liability.
£3.9m Civil engineering, mainly impairment of Hungarian plant and R&D costs
£1.7m building & Industrial, largely relating to the agro textiles disposal
£1.1m Interiors & Transportation
Re-set capital structure following equity funding
At the cessation of November, group net debt stood at £128.5m, a subside of c £10m y-o-y (after an adverse £1.1m FX translation effect).
Despite a c £16m y-o-y reduction in EBITDA, underlying operating cash flow – excluding pensions and exceptional cash movements - rose by over £20m to c £57m in FY18. This was driven by a significant swing in the net working capital (NWC) performance, generating an £18m inflow in the year (compared to a c £20m outflow in FY17). As previously noted, NWC absorption has been at relatively towering levels in recent years – partly to uphold the development of current facilities – and management has acknowledged that it should live reduced. It is encouraging therefore that the replete year inflow was larger than that reported at the interim stage. For the record, entire three WC line items were positive; they believe that inventory reduction and improved debtor collection achievements are sustainable with further progress targeted, though this is likely to live more than offset by unwinding payables positions in the coming year (see below). Their analysis moreover deducts pension cash contributions (£3.4m) and outflows related to exceptional items (c £6m) to arrive at headline operating cash flow of c £48m for FY18.
The other notable feature of FY18 cash flow was the year-on-year reduction in capex; completion of the Chinese start up and expansion aspect during the year saw capacity-related disburse drop from c £23m in FY17 to c £8m in FY18. disburse on existing facilities was more stable at £7.1m (£6.5m in the prior year). The completion of Colbond’s ERP system development and implementation required £3.4m cash investment (down from £5m in FY17) and was largely matched by unrelated asset disposal proceeds.
After factoring in cash outflows for interest tax and dividends (collectively c £20m), Low & Bonar’s cash inflow before financing was just above £11m for the year. Greater focus on working capital and controlled ongoing capex levels delivered this positive but necessary cash improvement in the year. In noting that equitable net debt in FY18 was c £159m – versus c £138m at the birth and c £128m at the cessation – management acknowledged that creditor stretch at term ends was the judgement for this profile. Additionally, there has been under-investment in core traffic areas. For the record, banking facilities in station are c £216m.2
Cash flow outlook: The £50m net equity fund-raising re-sets the group capital structure and should permit the current senior management team to improve operational performance and pursue its growth target (ie delivering 1–2% above regionally weighted GDP). Several aspects including innovation and investment Have multi-year time horizons, so a sharp, immediate recovery is not anticipated. Adjusting cessation FY18 net debt for the equity raise and a c £20m structural unwind of poise sheet payables gives a pro forma position of c £98m. Hence, their end-FY19 projection of £94m implies a minuscule underlying net cash inflow for the company this year. Behind this there is an multiply in profitability but moreover cash disburse on exceptional items (c £4m) and a step up in capex (to c £21m), while the re-set dividend policy will reduce but not liquidate cash dividend payments. Beyond the current year, their estimates currently expose a modest reduction in net debt, after factoring in sustained higher capex spending. At some point, CE disposal proceeds should contribute to lower debt levels also, but this is not currently in their forecasts. For future reference, the annual depreciation rush rate for the group as it is now stands at £16–17m (of which just over £1m relates to CE).
Margin expectations trimmed and dividend policy re-set
Our c 2–3% annual headline revenue growth is consistent with a modest out-performance of a relatively low and slowing macroeconomic growth environment in the western hemisphere and Low & Bonar’s Chinese exposure is helpful in this regard. At the EBIT level, while they anticipate some ensnare up in passing through polymer input costs in FY19, rectifying some underperforming plants (particularly in B&I and CTT) cause us to trim operating margin expectations by c 60–70bp for both FY19 and FY20 against their previous estimates. Lower interest costs following the equity fund-raising partially offset the above effects at the pre-tax level.
Group dividend policy has been re-set to a 40% payout flush of equitable earnings (or EPS dividend cover of 2.5x).
It is a piece of the Columbus IT strategy to develop a global Independent Software Vendor (ISV) company, which will function together with the company's core consulting business. Acquisition of To-Increase will compose Columbus IT the biggest development house for Microsoft Dynamics worldwide providing customers with towering trait global industry solutions based on Microsoft Dynamics AX.
To-Increase is an international company focused on developing add-on solutions for Microsoft Dynamics AX and Microsoft Dynamics NAV (Axapta and Navision). It is based on a 100 percent circuitous sales model by distributing its solutions though more than 40 partners worldwide. To-Increase is a piece of Microsoft Industry Builder Initiative and participates in Microsoft advisory boards for the next versions of Axapta 5.0 and Navision 5.0.
By this acquisition Columbus IT has bought a profitable software development business. The buy includes the transfer to Columbus IT of IP rights for entire To-Increase industry, add-on and other solutions, partners channel, customer basis and professional team and expertise.
"This acquisition makes Columbus IT the largest global development houses for Microsoft Dynamics AX and the only Microsoft colleague in Europe liable for two global industry solutions development as a piece of Microsoft Industry Builder Initiative: one for Retail and another for Industrial paraphernalia Manufacturing segments," said Vladislav Martynov, CEO Columbus IT colleague A/S. "We anticipate a synergy outcome in better coordinated R and D, distribution and uphold of add-on and industry solutions, as well as higher profitability for their consulting drill and faster profitable growth of their software division."
Columbus IT will interlard a current central ISV division, based on To-Increase. This current division will live liable for development of entire solutions, colleague channel development and support.
The Industry Builder initiative has been launched by Microsoft in May with the purpose of involving the most experienced partners in developing Global Industry Solutions based on Microsoft Dynamics. In July 2005, Columbus signed a first Industry builder agreement with Microsoft and became liable for developing a global solution for the Retail trade in Microsoft Dynamics AX (Microsoft Axapta). To-Increase has a similar Industry Builder agreement with Microsoft for the Industrial paraphernalia and Manufacturing (IEM) market.
About Columbus IT colleague A/S
Columbus IT is a global company specializing in implementing ERP, BI and CRM systems for lone site companies as well as multi-site, multi-national corporations. Its industry specializations are retail, manufacturing, distribution, professional service, pharmaceuticals and government contracting. Columbus IT is the most experienced IT implementation company in the world for Microsoft Dynamics (formerly Microsoft traffic Solutions Axapta and Navision ERP systems) and was recognized as global colleague of the year by Microsoft in 2005.
To-Increase is an Independent Software Vendor specializing in providing efficient solutions and add-on tools that uphold industry-specific traffic objectives. As a Gold Certified Microsoft colleague and an Industry Builder ISV for Microsoft in Industrial paraphernalia & Manufacturing, To-Increase is uniquely positioned to provide a portfolio of add-on solutions for Microsoft traffic Solutions software enjoy Microsoft Axapta and Microsoft Navision that improve the manageability of traffic objectives. In addition, To-Increase moreover supports the leading Sales & Product Configurator e-Con. Delivery of the products is made via a world-wide network of certified partners.
For more information, visit www.to-increase.com.
The names of actual companies and products mentioned herein may live the trademarks of their respective owners.
HTML: http://newsroom.eworldwire.com/wr/111005/13093.htmPDF: http://newsroom.eworldwire.com/pdf/111005/13093.pdfONLINE NEWSROOM: http://newsroom.eworldwire.com/307045.htmLOGO: http://newsroom.eworldwire.com/307045.htm
Columbus IT Partner
3151 Airway Ave
Costa Mesa, CA 92626
Columbus IT Partner
Kozhevnichesky proezd, 4, bld.8
Moscow, Russia 115114
PHONE. +7 095 363 55 80
http://www.columbusit.comRelated Thomas Industry Update
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