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   Strategies & Market TrendsSpeculating in Takeover Targets


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From: richardred4/25/2017 1:10:05 PM
   of 6103
 
STRP- Straight Path Communications is a takeover target dream stock. A huge premium from the beginning, and now a possible bidding war?

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From: richardred4/27/2017 11:44:14 AM
1 Recommendation   of 6103
 
Sold MLHR ANF DSW TLRD today out with good to moderate profits.

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To: richardred who wrote (4431)4/28/2017 10:24:36 AM
From: richardred
   of 6103
 
SOLD PKE trading profit.

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To: richardred who wrote (3836)4/29/2017 11:31:04 AM
From: richardred
   of 6103
 
RE-ARTW has been in sitting in the manure spreader for quite awhile. Maybe just wishful thinking, but almost anything goes for the right price. ARTW most defiantly needs overseas sales in their main business.

Mahindra
Mahindra & Mahindra eyes overseas markets for growth

>snip
The company is banking on technology it got access to through recent stake purchases and product understanding to reach the targets. When Mahindra goes for acquisitions in the farm equipment space, it isn't looking for big deals, but smart buys into what it calls islands of excellences, or companies which can offer it technological capabilities.

On its own, Mahindra would never have gone to Japan. It is the acquisition of a stake in Mitsubishi Agri that gave it a presence in Japa ..

Read more at:
economictimes.indiatimes.comhttp://economictimes.indiatimes.com/news/company/corporate-trends/mahindra-mahindra-eyes-overseas-markets-for-growth/printarticle/58425134.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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To: richardred who wrote (4375)4/29/2017 1:44:03 PM
From: richardred
   of 6103
 
RE-ANIK Speculation - Ties to a leader into diabetes care.

Hyaluronic acid has also been used in the synthesis of biological scaffolds for wound-healing applications. These scaffolds typically have proteins such as fibronectin attached to the hyaluronan to facilitate cell migration into the wound. This is particularly important for individuals with diabetes suffering from chronic wounds

Novo Nordisk's new CEO turns to deals to help revive growth





Novo Nordisk logo is seen in Bagsvaerd outside of Copenhagen, Denmark February 1, 2017. Scanpix Denmark/Liselotte Sabroe via REUTERS



By Ben Hirschler
<span class="articleLocation">Novo Nordisk's ( NOVOb.CO) new chief executive is looking at making acquisitions to broaden the Danish drugmaker's product line-up, in a change of tack that reflects a need for fresh sources of growth at the world's biggest diabetes company.

"Across our business we need to increasingly look for external innovation," Lars Fruergaard Jorgensen, who took over in January, said in an interview on Thursday.

Reuters reported on Wednesday that Novo had approached Global Blood Therapeutics ( GBT.O), a U.S. biotechnology company focused on serious blood disorders, valued at close to $1.5 billion, to discuss a potential takeover.

Jorgensen declined to comment on his interest in the Californian firm but confirmed Novo's biopharmaceuticals business, which includes blood products, was one area where complementary acquisitions were being considered.

"We have strong relationships with hematologists and there could be other products that would be relevant for us to acquire and we are looking for that," he said.

Any deals would most likely be "bolt-ons" rather than anything very large. "In my view we should do smaller deals; low single-digit billions of dollars," he said.

Novo has sat out a rash of deal-making that has gripped the rest of the drugs industry in recent years. Instead, under previous chief executive Lars Rebien Sorensen the company had focused on its market-leading position in making insulin and other diabetes treatments.

But the company's core insulin business has deteriorated recently, with increasing competition squeezing prices, particularly in the United States, sending Novo shares down nearly 40 percent in the past 12 months.

Last month the Danish group warned that sales and profits might actually slip in 2017, a remarkable change in fortune for a company that was previously renowned for its sector-beating growth.

Jorgensen, who began his Novo career more than 25 years ago as a graduate, acknowledges he faces a challenge to reassure investors.

While he believes Novo's existing drug line-up remains strong, in these tougher times the Danish group may increasingly operate like other big drugmakers that routinely make acquisitions to boost growth as key medicines lose momentum.

"We will more and more have to do deals like any other company to make sure we have a broader platform to grow on," Jorgensen said.


Novo's already dominant position in diabetes probably means there are few interesting deal opportunities in that particular area but hemophilia and other blood products is a field of interest, along with obesity.

Novo already has one treatment for obesity, Saxenda, and Jorgensen sees an opportunity to broaden this with further acquisitions, bearing in mind that type 2 diabetes is closely linked to obesity.

Finding such adjacent businesses that will not see Novo stray too far from its core therapy areas is an important consideration, Jorgensen said.

"It is not my ambition to go out and do deals where we would not be bringing significant value in terms of disease understanding, commercial infrastructure or manufacturing. The more of those boxes you can tick the better."

reuters.com


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To: richardred who wrote (4387)4/29/2017 1:52:23 PM
From: richardred
   of 6103
 
RE- INCR speculation
Message 30973486

Quest, LabCorp forge divergent paths through M&A
By Adam Rubenfire | April 12, 2016

Quest Diagnostics and Laboratory Corporation of America battle vigorously for market share in the diagnostic lab industry.

And in recent years, both companies have made significant strides in expanding their businesses by partnering with hospitals. But Quest has concentrated on acquiring health systems' labs, while LabCorp has focused on acquisitions that shore up its technology and the sophistication of its diagnostic services.

Experts say the companies are on distinct paths that will shape the future of the industry's giants, who rank far above any other competitors. Quest's strategy will grow its core business of diagnostic services, while LabCorp's efforts are steering the company toward a future beyond clinical labs.

Madison, N.J.-based Quest has focused on acquiring health systems' laboratory outreach businesses, which are labs that perform services for customers outside of the health system, often for patients seeking a lab order from a personal physician or a provider at a different health system. Quest has engaged in lab services deals with seven systems in the past two years, some of which have included outreach businesses, according to a February securities filing.

“The strategy and future of Quest, at least for the diagnostic industry, is to be significant partners with the hospital and health system,” said Dr. Jon Cohen, senior vice president and group executive at Quest. “We are trying to move away from a vendor relationship.”

Quest has struck deals with several major health systems, acquiring the lab outreach businesses of Hartford HealthCare and MemorialCare Health System, and agreeing to manage laboratory operations at seven Barnabas Health hospitals in Southern California. It moved its clinical trials laboratory services into a joint venture with Quintiles last year.

When Quest manages a hospital's lab, it moves 20% to 30% of tests off-site to its own centralized facilities. Hospital labs perform these services at two to five times Quest's cost. The company can shave as much as 20% of a hospital's lab costs, said Cohen.

Companies such as LabCorp and Quest have more sophisticated technology than most hospital labs and they tend to have more experience negotiating with both private and federal payers, who are paying less for lab tests these days. For many hospitals, labs are an increasingly unattractive service line amid growing cost and utilization pressures.

Shortly after being appointed CEO in 2012, Steve Rusckowski identified a need for Quest to refocus on core diagnostic information services.

“At that time, Quest's management had the foresight to recognize that reimbursement pressures on lab testing would soon trickle down to hospital labs,” Cohen said. “They also recognized that Quest's scale and expertise would afford the opportunity to provide comparable services for much less cost under these changing dynamics.”

Quest's hospital deals tend to be more diverse and complex, and therefore take longer to close, said David Nichols, president of Nichols Management Group, a York Harbor, Maine-based diagnostic lab consultancy. Quest's focus on acquiring outreach businesses' rather than hospitals' full lab operations is likely due to the fact that many hospitals aren't interested in giving up control of their inpatient lab operations, despite cost and utilization challenges. A limited number of health systems will outsource those services to companies like Quest.

By comparison, LabCorp has branched outside of the core laboratory space and invested significantly in clinical trials and drug development with its $5.7 billion acquisition of Covance, as well as other specialty businesses, Cohen pointed out. LabCorp declined to comment on the story.

Burlington, N.C.-based LabCorp has absorbed competitors, including Pathology, a lab known for its women's health services, and LipoScience, which makes specialized cardiovascular diagnostic laboratory tests.

LabCorp recorded $128.6 million in acquisitions last year alone, and has spent about $5.8 billion in cash and equity of $1.8 billion on acquisitions since 2010, most of which can be attributed to Covance.

Most of the company's hospital deals resemble a partnership model, Nichols said, where they agree to manage a lab by placing their own manager. He said these deals have often focused on hospital reference labs, which receive tests from throughout a system.

LabCorp is more disciplined than Quest in its evaluations of potential M&A targets, said Brian Tanquilut, a stock analyst covering healthcare services at Jefferies & Co. But the company is also clearly different from Quest in that it sees a life beyond clinical labs.

“I think it's just a total difference in strategy,” Tanquilut said. “(Quest) honestly believes that you can drive volume growth by going after the hospital opportunity ... (LabCorp has) a broader view of the world in terms of deal sourcing, whereas Quest is primarily still a lab business."

Health system labs are ripe for the picking because many are seeing a steady flow of referrals and volume following consolidation. But Nichols cautioned providers against rushing to sell their lab outreach businesses – a sale will generate quick cash, but the cost of tests within the system will go up significantly, as the lab would still require the same equipment and a similarly sized staff, despite lower volume. Labs have relatively high fixed costs and low variable costs, so they're difficult to downsize, he said.

Nonetheless, the efforts made by both companies to take control of hospital labs should send health system leaders a clear message: bolster your laboratory service lines, make them efficient and competitive, or divest them and exit the lab business.

“Get in or get out of the lab services business,” Nichols said. “We don't see straddling as a good strategy in a market that is increasingly competitive with declining reimbursement.”

modernhealthcare.com

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To: richardred who wrote (3833)4/29/2017 2:50:11 PM
From: richardred
   of 6103
 
RE_MNTX speculation >TEX-focus on aerial work platforms, cranes and materials-processing equipment.
Interest in buying back ASVI?
Possible Buyers shopping list
publicistreport.com

Terex Divests India-Based Compact Construction Business


Mar 28, 2017 Michael Roth





Terex continues its divestment of construction assets to focus on aerial work platforms, cranes and materials-processing equipment.



Terex Corp. has agreed to sell its India-based compact construction business to Manitou BF. Manitou manufactures a wide range of compact construction and material handling equipment. Terex’s India-based unit – Terex Equipment Private Limited – manufactures and sells backhoe loaders, wheel loaders and skid-steer loaders.

The sale is subject to customary closing conditions and is expected to be finalized in the first half of 2017.

“We are pleased to enter into this agreement with Manitou,” said John Garrison, Terex president and CEO. “Manitou is a strong strategic buyer with the resources and desire to further grow the business as an industrial base for Asia and emerging markets. For Terex, the sale of TEPL represents the disposition of the last significant asset held for sale in Terex’s former Construction segment. This is an important milestone in executing on Terex’s commitment to focus our portfolio on those product categories where Terex has a significant presence in the market and that can provide the greatest returns for our shareholders.”

Terex has reduced its product portfolio to focus on aerial work platforms, cranes and material processing products. In 2016, Terex completed the sale of its German compact construction business to Yanmar for $60 million in case, including a manufacturing facility and a parts distribution center in Germany. In January, Terex completed the sale of its Material Handling & Ports Solutions business to Konecranes. In 2014, Terex sold its rigid and articulated hauler business to Volvo CE for $160 million.

rermag.com



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To: richardred who wrote (4441)5/1/2017 10:30:43 PM
From: The Ox
   of 6103
 

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To: richardred who wrote (4430)5/5/2017 10:31:23 AM
From: richardred
1 Recommendation   of 6103
 
MTD is killing it. IMO that's why HBIO needs a parent.

Mettler-Toledo International Inc. Reports First Quarter 2017 Results- - Excellent Sales Growth - -
- - Very Strong Margin Expansion and EPS Growth - -
COLUMBUS, Ohio, May 4, 2017 /PRNewswire/ -- Mettler-Toledo International Inc. (NYSE: MTD) today announced first quarter results for 2017. Provided below are the highlights:

  • Sales in local currency increased 12% in the quarter compared with the prior year. Reported sales increased 10% as currency reduced sales growth by 2% in the quarter.
  • Net earnings per diluted share as reported (EPS) were $3.48, compared with $2.40 in the prior-year period. Adjusted EPS was $3.34, an increase of 36% over the prior-year amount of $2.46. Adjusted EPS is a non-GAAP measure and we have included a reconciliation to EPS on the last page of the attached schedules.
  • First Quarter Results

    Olivier Filliol, President and Chief Executive Officer, stated, "Sales growth in the quarter was excellent with broad-based strength across all regions. Our productivity and margin initiatives continue to yield tangible results driving strong margin expansion and very good growth in EPS. Finally, cash flow generation in the quarter was quite strong."

    EPS in the quarter was $3.48, compared with the prior-year amount of $2.40. Adjusted EPS was $3.34, an increase of 36% over the prior-year amount of $2.46.

    Sales were $594.6 million, a 12% increase in local currency sales, compared with $539.7 million in the prior-year quarter. Reported sales increased 10% as currency reduced sales growth by 2% in the quarter. As compared to the prior year, local currency sales increased 14% in the Americas, 13% in Europe and 9% in Asia / Rest of World. Adjusted operating income amounted to $127.3 million, a 25% increase from the prior-year amount of $102.0 million. Adjusted operating income is a non-GAAP measure, and a reconciliation to earnings before taxes is provided in the attached schedules.

    Outlook

    The Company said that based on its assessment of market conditions today, management anticipates local currency sales growth in 2017 will be approximately 7%. This sales growth is expected to result in Adjusted EPS in the range of $16.95 to $17.15, an increase of 15% to 16%. This compares to previous guidance of Adjusted EPS in the range of $16.55 to $16.75.

    For the second quarter 2017, local currency sales growth is expected to be in the range of 8% to 9% and Adjusted EPS in the range of $3.85 to $3.90, an increase of 20% to 21%.

    While the Company has provided an outlook for Adjusted EPS, it has not provided an outlook for EPS as it would require an estimate of non-recurring items, which are not yet known. The Company noted in making its outlook that economic uncertainty remains in certain regions of the world and market conditions are subject to change.

    Conclusion

    Filliol concluded, "We have a strong start to the year as we capitalize on favorable market conditions and continue to execute well. Our growth initiatives have good momentum and include our Field Turbo investments, Spinnaker sales and marketing initiatives and new product launches. We also continue to make good progress with our margin and productivity initiatives. While current market conditions are positive, we will face more challenging comparisons as the year progresses. With the promising start to the year, we are optimistic that we will deliver a strong performance in 2017."

    Other Matters

    The Company will host a conference call to discuss its quarterly results today (Thursday, May 4) at 5:00 p.m. Eastern Time. To hear a live webcast or replay of the call, visit the investor relations page on the Company's website at www.mt.com/investors. The presentation referenced in the conference call will be located on the website prior to the call.

    METTLER TOLEDO (NYSE: MTD) is a leading global supplier of precision instruments and services. We have strong leadership positions in all of our businesses and believe we hold global number-one market positions in most of them. We are recognized as an innovation leader and our solutions are critical in key R&D, quality control, and manufacturing processes for customers in a wide range of industries including life sciences, food, and chemicals. Our sales and service network is one of the most extensive in the industry. Our products are sold in more than 140 countries and we have a direct presence in approximately 40 countries. With proven growth strategies and a focus on execution, we have achieved a long-term track record of strong financial performance. For more information, please visit www.mt.com.

    Statements in this press release which are not historical facts constitute "forward-looking statements" within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These statements involve known and unknown risks, uncertainties and other factors that may cause our or our businesses' actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or "continue" or the negative of those terms or other comparable terminology. For a discussion of these risks and uncertainties, please see the discussion on forward-looking statements in our current report on Form 8-K to which this release has been furnished as an exhibit. All of the forward-looking statements are qualified in their entirety by reference to the factors discussed under the captions "Factors affecting our future operating results" and in the "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our annual report on Form 10-K for the most recently completed fiscal year, which describe risks and factors that could cause results to differ materially from those projected in those forward-looking statements.




    METTLER-TOLEDO INTERNATIONAL INC.

    CONSOLIDATED STATEMENTS OF OPERATIONS

    (amounts in thousands except share data)

    (unaudited)

























    Three months ended









    Three months ended










    March 31, 2017


    % of sales



    March 31, 2016


    % of sales






















    Net sales



    $594,567


    (a)


    100.0





    $539,674




    100.0



    Cost of sales



    251,667




    42.3





    239,767




    44.4



    Gross profit



    342,900




    57.7





    299,907




    55.6























    Research and development



    31,392




    5.3





    28,973




    5.4



    Selling, general and administrative



    184,172




    31.0





    168,921




    31.3



    Amortization



    10,045




    1.7





    8,424




    1.6



    Interest expense



    7,741




    1.3





    6,580




    1.2



    Restructuring charges



    1,432




    0.2





    880




    0.2



    Other charges (income), net



    (5,730)


    (b)


    (0.9)





    (284)




    (0.1)



    Earnings before taxes



    113,848




    19.1





    86,413




    16.0























    Provision for taxes



    21,382




    3.5





    20,739




    3.8



    Net earnings



    $92,466




    15.6





    $65,674




    12.2























    Basic earnings per common share:



















    Net earnings



    $3.57









    $2.44







    Weighted average number of common shares



    25,932,112









    26,931,293



























    Diluted earnings per common share:



















    Net earnings



    $3.48









    $2.40







    Weighted average number of common



    26,586,061









    27,421,019







    and common equivalent shares







































    Note:



















    (a)

    Local currency sales increased 12% as compared to the same period in 2016.



























    RECONCILIATION OF EARNINGS BEFORE TAXES TO ADJUSTED OPERATING INCOME

























    Three months ended









    Three months ended










    March 31, 2017


    % of sales



    March 31, 2016


    % of sales






















    Earnings before taxes



    $113,848









    $86,413







    Amortization



    10,045









    8,424







    Interest expense



    7,741









    6,580







    Restructuring charges



    1,432









    880







    Other charges (income), net



    (5,730)


    (b)







    (284)







    Adjusted operating income



    $127,336


    (c)


    21.4





    $102,013




    18.9























    Note:



















    (b)

    Other charges (income), net includes a one-time gain of $3.4 million for the three months ended March 31, 2017 relating to the sale of a facility in Switzerland in connection with our initiative to consolidate certain Swiss operations into a new facility.


    (c)

    Adjusted operating income increased 25% as compared to the same period in 2016.










    METTLER-TOLEDO INTERNATIONAL INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (amounts in thousands)

    (unaudited)























    March 31, 2017



    December 31, 2016











    Cash and cash equivalents



    $164,893





    $158,674


    Accounts receivable, net



    439,413





    454,988


    Inventories



    242,375





    222,047


    Other current assets and prepaid expenses



    66,184





    61,075


    Total current assets



    912,865





    896,784












    Property, plant and equipment, net



    572,058





    563,707


    Goodwill and other intangibles assets, net



    644,128





    643,433


    Other non-current assets



    74,713





    62,853


    Total assets



    $2,203,764





    $2,166,777












    Short-term borrowings and maturities of long-term debt



    $19,476





    $18,974


    Trade accounts payable



    137,827





    146,593


    Accrued and other current liabilities



    403,859





    421,948


    Total current liabilities



    561,162





    587,515












    Long-term debt



    944,211





    875,056


    Other non-current liabilities



    258,539





    269,263


    Total liabilities



    1,763,912





    1,731,834












    Shareholders' equity



    439,852





    434,943


    Total liabilities and shareholders' equity



    $2,203,764





    $2,166,777
















    METTLER-TOLEDO INTERNATIONAL INC.

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (amounts in thousands)

    (unaudited)













    Three months ended






    March 31,






    2017


    2016










    Cash flow from operating activities:







    Net earnings



    $92,466


    $65,674


    Adjustments to reconcile net earnings to
    net cash provided by operating activities:













    Depreciation



    7,966


    8,122


    Amortization



    10,045


    8,424


    Deferred tax benefit



    (1,470)


    (3,304)


    Gain on facility sale



    (3,394)


    -


    Other



    3,812


    3,579


    Decrease in cash resulting from changes in







    operating assets and liabilities



    (41,826)


    (40,990)


    Net cash provided by operating activities



    67,599


    41,505










    Cash flows from investing activities:







    Proceeds from sale of property, plant and equipment(a)



    10,003


    135


    Purchase of property, plant and equipment



    (21,015)


    (14,348)


    Acquisitions



    -


    (4,329)


    Net hedging settlements on intercompany loans



    312


    2,128


    Net cash used in investing activities



    (10,700)


    (16,414)










    Cash flows from financing activities:







    Proceeds from borrowings



    472,732


    229,413


    Repayments of borrowings



    (409,881)


    (124,467)


    Proceeds from exercise of stock options



    8,201


    5,909


    Repurchases of common stock



    (124,997)


    (125,000)


    Other financing activities



    -


    (125)


    Net cash used in financing activities



    (53,945)


    (14,270)










    Effect of exchange rate changes on cash and cash equivalents



    3,265


    887










    Net increase in cash and cash equivalents



    6,219


    11,708










    Cash and cash equivalents:







    Beginning of period



    $158,674


    98,887


    End of period



    $164,893


    $110,595


















    RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW









    Net cash provided by operating activities



    $67,599


    $35,700


    Payments in respect of restructuring activities



    2,578


    1,841


    Proceeds from sale of property, plant and equipment



    10,003


    135


    Purchase of property, plant and equipment



    (21,015)


    (14,348)


    Free cash flow



    $59,165


    $23,328










    (a)

    Proceeds from sale of property, plant and equipment includes $9.9 million relating to the sale of a facility in Switzerland in connection with our initiative to consolidate certain Swiss operations into a new facility.






    METTLER-TOLEDO INTERNATIONAL INC.

    OTHER OPERATING STATISTICS





























    SALES GROWTH BY DESTINATION

    (unaudited)



















    Europe


    Americas


    Asia/RoW


    Total

















    U.S. Dollar Sales Growth














    Three Months Ended March 31, 2017



    9%


    14%

    7%


    10%
















    Local Currency Sales Growth














    Three Months Ended March 31, 2017



    13%


    14%

    9%


    12%












































    RECONCILIATION OF DILUTED EPS AS REPORTED TO ADJUSTED DILUTED EPS

    (unaudited)





















    Three months ended








    March 31,








    2017



    2016


    %

    Growth
















    EPS as reported, diluted





    $3.48



    $2.40


    45%
















    Restructuring charges, net of tax





    0.04

    (a)


    0.02

    (a)




    Purchased intangible amortization, net of tax





    0.06

    (b)


    0.04

    (b)




    Income tax expense





    (0.14)

    (c)


    -





    Gain on facility sale





    (0.10)

    (d)


    -



















    Adjusted EPS, diluted





    $3.34



    $2.46


    36%
















    Notes:













    (a)

    Represents the EPS impact of restructuring charges of $1.4 million ($1.1 million after tax) and $0.9 million ($0.7 million after tax) for both the three months ended March 31, 2017 and 2016, respectively, which primarily include employee related costs.

    (b)

    Represents the EPS impact of purchased intangibles amortization, net of tax, of $1.5 million and $1.1 million for the three month periods ended March 31, 2017 and 2016, respectively.

    (c)

    Represents the EPS impact of the difference between our reported tax rate of 19% during the three months ending March 31, 2017 and our estimated annual income tax rate of 22% pertaining to excess tax benefits associated with stock option exercises.

    (d)

    Represents the EPS impact of a one-time gain of $3.4 million ($2.7 million after tax) for the three months ended March 31, 2017 relating to the sale of a facility in Switzerland in connection with our initiative to consolidate certain Swiss operations into a new facility.






    To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/mettler-toledo-international-inc-reports-first-quarter-2017-results-300451942.html

    SOURCE Mettler-Toledo International Inc.


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    To: richardred who wrote (4435)5/8/2017 8:35:33 AM
    From: richardred
       of 6103
     
    Straight Path Communications up another 41 points pre-market. A rumored knock out bid blow by Verizion or is there more to go?

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