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News releases, reports, statements and associated documents from U.S. and international businesses.
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Vishay Intertechnology Automotive Grade IHLP Inductor Offers Operating Temperature to +155 Degree C for Under the Hood Applications
MALVERN, Pennsylvania, March 23 -- Vishay Intertechnology issued the following news release, dated March 21:
Vishay Intertechnology, Inc. (NYSE: VSH) today expanded its offering of Automotive Grade IHLP(R) low profile, high current inductors with a new device in the 2020 case size. The Vishay Dale IHLP-2020BZ-5A combines a high operating temperature to +155 C with a low profile of 2 mm to save space in under the hood automotive applications.
The AEC-Q200 qualified device released today is optimized for energy storage in DC/DC converters up to 2 MHz. It also provides excellent attenuation of noise
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MALVERN, Pennsylvania, March 23 -- Vishay Intertechnology issued the following news release, dated March 21:
Vishay Intertechnology, Inc. (NYSE: VSH) today expanded its offering of Automotive Grade IHLP(R) low profile, high current inductors with a new device in the 2020 case size. The Vishay Dale IHLP-2020BZ-5A combines a high operating temperature to +155 C with a low profile of 2 mm to save space in under the hood automotive applications.
The AEC-Q200 qualified device released today is optimized for energy storage in DC/DC converters up to 2 MHz. It also provides excellent attenuation of noisein high current filtering applications up to the SRF of the inductor. With its high operating temperature, the device is designed for filtering and DC/DC conversion in engine and transmission control units, diesel injection drivers, and entertainment / navigation systems, in addition to noise suppression for motors, windshield wipers, power mirrors and seats, HID and LED lighting, and heating and ventilation blowers.
The IHLP-2020BZ-5A features high efficiency with typical DCR from 7.3 m mu to 181.0 m mu and a wide range of inductance values from 0.47 uH to 10.0 uH. The device provides rated current to 13.43 A and handles high transient current spikes without saturation.
Packaged in a 100 % lead (Pb)-free shielded, composite construction that reduces buzz to ultra low levels, the inductor offers high resistance to thermal shock, moisture, and mechanical shock. The IHLP-2020BZ-5A is RoHS-compliant, halogen-free, and Vishay Green.
Device Specification Table:
See table here (http://www.vishay.com/company/press/releases/2019/IHLP2020BZ5A/)
Molex Named a Derwent Top 100 Global Innovator
LISLE, Illinois, March 23 -- Molex, a manufacturer of total electronic solutions, issued the following news release, dated March 21:
Molex, a leading global manufacturer of electronic solutions, has been named a Derwent Top 100 Global Innovator 2018-19 by Clarivate Analytics. The annual report identifies and celebrates the world's most innovative organizations who successfully develop valuable patented inventions that also have strong commercialization potential based on originality, market reach, and opportunities for spin-off products.
Placement on the list has become a standard measurement
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LISLE, Illinois, March 23 -- Molex, a manufacturer of total electronic solutions, issued the following news release, dated March 21:
Molex, a leading global manufacturer of electronic solutions, has been named a Derwent Top 100 Global Innovator 2018-19 by Clarivate Analytics. The annual report identifies and celebrates the world's most innovative organizations who successfully develop valuable patented inventions that also have strong commercialization potential based on originality, market reach, and opportunities for spin-off products.
Placement on the list has become a standard measurementfor innovation across the world and is recognized as a significant achievement for those who are named. Molex is among the organizations that are solidifying their position by successfully bringing patents to market on a global scale. "Molex has been developing innovative solutions for our customers for more than 80 years," said Joe Nelligan, CEO and President, Molex. "By investing in ongoing R&D and closely collaborating with customers, we can create value not only for our customers but for society as a whole. As technology continues to change, we find that working closely with customers to find solutions to increasingly complex and sophisticated applications across a wide range of industries is, and will continue to be, the reason we are in business. The quality of Molex's patents, as recognized by the Derwent Top 100 Global Innovators award, is therefore a reflection of the value Molex is creating for its customers."
The Derwent Top 100 Global Innovators 2018-19 are from three continents and 12 countries/regions. Japan and the U.S. account for 72 percent of the organizations on the list and Russia is represented for the first time this year. Seven organizations are new to the report.
The Derwent Top 100 Global Innovators methodology is based on four principle criteria: overall patent volume, patent application-to-grant success rate, global reach of the portfolio and patent influence as evidenced by citations. The peer-reviewed methodology was executed using Clarivate solutions including Derwent World Patents Index (DWPI) and Derwent Patent Citations Index (DPCI). The index provides editorially enhanced, authoritative and accurate patent data, and is trusted by more than 40 patent offices worldwide.
To view the full list and report on the Derwent Top 100 Global Innovators program, go to http://www.top100innovators.com. For more information about Molex solutions, please visit http://www.molex.com
Clarivate Analytics:
Clarivate Analytics is a global leader in providing trusted insights and analytics to accelerate the pace of innovation. Building on a heritage going back more than a century and a half, we have built some of the most trusted brands across the innovation lifecycle, including the Web of Science, Cortellis, Derwent, CompuMark, MarkMonitor and Techstreet. Today, Clarivate Analytics is a new and independent company on a bold entrepreneurial mission, to help our clients radically reduce the time from new ideas to life-changing innovations. For more information, please visit http://www.clarivate.com.
McDermott Team Secures Major NLRB Victory for Dycora
CHICAGO, Illinois, March 23 -- McDermott Will and Emery, a law firm, issued the following news release, dated March 15:
A McDermott team secured a major victory before the National Labor Relations Board (NLRB) Division of Judges on behalf of client Dycora Transitional Health (Dycora). The Service Employees International Union (SEIU) alleged that Dycora engaged in unfair labor practices and objectionable conduct preceding a decertification election in May 2018.
Employees at the facility voted overwhelmingly against continued representation by the SEIU. The SEIU then filed unfair labor practices
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CHICAGO, Illinois, March 23 -- McDermott Will and Emery, a law firm, issued the following news release, dated March 15:
A McDermott team secured a major victory before the National Labor Relations Board (NLRB) Division of Judges on behalf of client Dycora Transitional Health (Dycora). The Service Employees International Union (SEIU) alleged that Dycora engaged in unfair labor practices and objectionable conduct preceding a decertification election in May 2018.
Employees at the facility voted overwhelmingly against continued representation by the SEIU. The SEIU then filed unfair labor practicesand objections to the election, which led to a three-day, consolidated trial before an administrative law judge in August 2018.
The judge dismissed all of the SEIU's objections and affirmed the employees' vote to decertify the SEIU.
Ron Holland explains that "this was an important victory and allows Dycora and its employees to move forward and focus on offering exceptional healthcare and living experiences for their residents."
The McDermott team included Holland, Chris Foster and Michael Giambona.
The full opinion is available here (https://www.mwe.com/board-decision-1/).
McDermott Advises BlueGem Capital Partners in Acquisition of the Cosmetic Skin Clinic
CHICAGO, Illinois, March 23 -- McDermott Will and Emery, a law firm, issued the following news release, dated March 12:
International law firm McDermott Will & Emery represented BlueGem Capital Partners LLP, a London-based private equity fund manager, in connection with the bolt-on acquisition of The Cosmetic Skin Clinic for BlueGem's portfolio group, The Private Clinic.
The Private Clinic operates out of 12 clinics nationwide with undisputed leadership in specific areas such as hair transplants, plastic surgery and liposuction. The Company's emphasis on providing a 5-star experience and absolute
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CHICAGO, Illinois, March 23 -- McDermott Will and Emery, a law firm, issued the following news release, dated March 12:
International law firm McDermott Will & Emery represented BlueGem Capital Partners LLP, a London-based private equity fund manager, in connection with the bolt-on acquisition of The Cosmetic Skin Clinic for BlueGem's portfolio group, The Private Clinic.
The Private Clinic operates out of 12 clinics nationwide with undisputed leadership in specific areas such as hair transplants, plastic surgery and liposuction. The Company's emphasis on providing a 5-star experience and absoluteconfidentiality has gained them a following amongst VIPs flying to their Harley Street flagship from all over the world. Since its acquisition by BlueGem in 2008, The Private Clinic has opened 6 new clinics and grown revenue from pound sterling4 million to c. pound sterling18 million in 2018, establishing itself as the leader in the premium sector. The new group will benefit from 35 years of experience and 14 clinics nationwide, including a hospital located in the heart of London.
The Cosmetic Skin Clinic specializes in cutting-edge non-surgical treatments carried out in a state-of-the-art clinic in Buckinghamshire and a second clinic in Central London. The Company has been the No.1 clinic for CoolSculpting(R) in UK and Western Europe for the past 6 years and No.1 Ultherapy(R) provider in the UK and Ireland for 5 years running and in the UK and Europe in 2017/2018.
BlueGem Capital Partners, McDermott's long-standing client, is a London based, pan-European, mid-market private equity Fund specialized in consumer brands. Established in 2007, BlueGem has over 550 million euros of assets under management across two funds. Its portfolio companies include global, well-known brands such as Liberty London, Dr. Vranjes, Jack Wills, Mamas & Papas and QMS and fast growing, exciting brands such as Iconic London, Lateral and Big Fernand. BlueGem is planning to raise its third fund in the second half of 2019, to continue the successful strategy deployed with the previous funds.
The McDermott team advised on all aspects of the acquisition. The deal team was led by Piero Carbone and Calum Thom with support from Elisa De Carolis on finance, Sharon Lamb on healthcare regulatory, Paul McGrath on employment and Rose McSwiney on real estate. The transaction is yet another step in McDermott helping their client to continue their impressive growth trajectory.
McDermott's Corporate & Transactional Practice represents business interests around the world, from global corporations and industry-leading companies to privately funded and entrepreneurial driven enterprises, private equity sponsors and the financial institutions that support them. McDermott consistently ranks in the leading league tables, including Mergermarket, Thomson Reuters, Bloomberg and PitchBook.
FIS Migrates Hosted Core Banking Platform Service for Bank of the West
JACKSONVILLE, Florida, March 23 -- Fidelity National Information Services (better known as FIS), a provider of financial technology solutions, issued the following news release, dated March 21:
FIS(TM) (NYSE: FIS), a global leader in financial services and payment technology, today announced that Bank of the West, an $80-plus billion bank with locations in 24 states across the United States, has moved to a hosted FIS core banking platform.
Moving to an FIS' hosted environment will provide Bank of the West the ability to help meet the future needs of its customers, with the stability and recoverability
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JACKSONVILLE, Florida, March 23 -- Fidelity National Information Services (better known as FIS), a provider of financial technology solutions, issued the following news release, dated March 21:
FIS(TM) (NYSE: FIS), a global leader in financial services and payment technology, today announced that Bank of the West, an $80-plus billion bank with locations in 24 states across the United States, has moved to a hosted FIS core banking platform.
Moving to an FIS' hosted environment will provide Bank of the West the ability to help meet the future needs of its customers, with the stability and recoverabilityof a secure cloud-based environment
"As the banking environment continues to grow more competitive, the tools and services that meet the changing needs of our customers are critical," said Jacob Sorensen, Executive Vice President and Chief Information Officer, Bank of the West.
"We are pleased to support Bank of the West on its growth journey with this powerful core banking solution," said Bruce Lowthers, chief operating officer, Integrated Financial Services Banking, FIS. "By choosing a hosted platform, the bank will gain the capabilities and the flexibility it needs to continue providing its customers with the leading-edge, personalized services they have come to expect, and create a pathway for the adoption of innovative new technologies."
About FIS
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 47,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor's 500(R) Index. For more information about FIS, visit https://www.fisglobal.com.
Denny's Forms New Partnership With Magic Johnson for Its Breakthrough Leadership Training and Development Programs
SPARTANBURG, South Carolina, March 23 -- Denny's, a full-service restaurant chains franchisor and operator, issued the following news release, dated March 18:
Denny's Corporation (NASDAQ: DENN), one of the world's largest full-service family dining chains, today announced a partnership with Earvin "Magic" Johnson. With Johnson's support, Denny's has created an online and multifaceted experiential program to accompany their Breakthrough Leadership Training and Development Program. Denny's focus is on creating and developing careers. Johnson's history as a business leader, entrepreneur, athlete
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SPARTANBURG, South Carolina, March 23 -- Denny's, a full-service restaurant chains franchisor and operator, issued the following news release, dated March 18:
Denny's Corporation (NASDAQ: DENN), one of the world's largest full-service family dining chains, today announced a partnership with Earvin "Magic" Johnson. With Johnson's support, Denny's has created an online and multifaceted experiential program to accompany their Breakthrough Leadership Training and Development Program. Denny's focus is on creating and developing careers. Johnson's history as a business leader, entrepreneur, athleteand philanthropist, complements Denny's commitment to building individuals and strong teams.
"Partnering with Magic is such a natural fit for us," said John Dillon, Senior Vice President and Chief Brand Officer at Denny's. "His business acumen and commitment to building diverse workforces aligns well with Denny's efforts and our passion for supporting the communities we serve. Over the coming months, Denny's looks forward to visiting several communities in which we will provide job opportunities and information about careers in the hospitality industry. Johnson's assistance in our efforts will help us reach a broad audience to share skills and insights that will help them grow personally and professionally."
Denny's Breakthrough Leadership Training and Development program provides Denny's team members with exclusive access to numerous creative and interactive employee engagement curricula, leadership workshops, simulations, games and mobile learning and educational training videos. Several elements of the training program are experiential and designed to be practical and sustainable, reflecting real business and leadership challenges that team leaders face every day. In April 2019, Denny's will be launching a complementary recruiting site highlighting job and career-long opportunities.
"Denny's is doing this right," said Johnson. "Having spent time with the senior leadership team and having witnessed firsthand their commitment to recruiting local talent, training their employees, and making a positive impact in their local communities, it's obvious they are approaching their goals the right way. Magic Johnson Enterprises has always been focused on developing programs that create jobs and careers in the areas in which we invest. Over the coming months, I look forward to participating in Denny's recruiting and training efforts and I am proud to support their team."
"Denny's success and our ability to achieve breakthrough results is directly dependent upon the effectiveness of our leaders and team members," said Chris Bode, Chief Operating Officer at Denny's. "We believe there is a leader inside of everyone. We have had the pleasure of working with Magic Johnson and his Foundation for the past eight years, and we understand and support his commitment to youth and education. We are privileged to have this opportunity to continue working together to recruit and build a best-in-class workforce that will help us foster an environment and culture that will sustain our business for years to come."
In addition to launching the Denny's new recruiting and leadership training program, Denny's teamed up with Magic Johnson earlier this year to develop a regional specialized menu in Southern California. These specialty items come with tips demonstrating health alternatives for classic meals.
About Denny's Corp.
Denny's is one of America's largest full-service family restaurant chains, currently operating over 1,700 franchised, licensed and company-owned restaurants across the United States, Canada, Puerto Rico, New Zealand, Mexico, Costa Rica, Dominican Republic, Honduras, Guam, the United Arab Emirates, Chile, Curacao, El Salvador, and Trinidad and Tobago, and the Philippines. For further information on Denny's, including news releases, please visit the Denny's website at http://www.dennys.com or the brand's social channels via Facebook, Twitter, Tumblr, Instagram, Instagram or YouTube.
About Magic Johnson Enterprises
Magic Johnson Enterprises, formed in 1987, serves as a catalyst for community and economic empowerment by making available high-quality entertainment, products and services that answer the demands of ethnically diverse urban communities. Through investment, partnership and consultation, Magic Johnson Enterprises has a portfolio of companies that strategically work together to reinforce the organization's focus on serving emerging, multicultural communities. Learn more at http://www.magicjohnsonenterprises.com
Cintas Announces Fiscal 2019 Third Quarter Results
CINCINNATI, Ohio, March 23 -- Cintas, a provider of entrance mats, restroom cleaning and supplies, tile and carpet cleaning, promotional products, first aid, safety, fire protection products and services, issued the following news release, dated March 21:
Cintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2019 third quarter ended February 28, 2019.
Revenue for the third quarter of fiscal 2019 was $1.68 billion, an increase of 5.9% over last year's third quarter. The organic growth rate, which adjusts for the impacts of acquisitions and foreign currency exchange rate fluctuations,
... Show Full Article
CINCINNATI, Ohio, March 23 -- Cintas, a provider of entrance mats, restroom cleaning and supplies, tile and carpet cleaning, promotional products, first aid, safety, fire protection products and services, issued the following news release, dated March 21:
Cintas Corporation (Nasdaq: CTAS) today reported results for its fiscal 2019 third quarter ended February 28, 2019.
Revenue for the third quarter of fiscal 2019 was $1.68 billion, an increase of 5.9% over last year's third quarter. The organic growth rate, which adjusts for the impacts of acquisitions and foreign currency exchange rate fluctuations,was 6.0%. In the third quarter of fiscal 2019, the organic growth rate for the Uniform Rental and Facility Services operating segment was 6.2%, and the organic growth rate for the First Aid and Safety Services operating segment was 8.6%. Scott D. Farmer, Cintas' Chairman and Chief Executive Officer, stated, "Customer closures caused by the severe weather and the holiday calendar during the quarter created challenges within our route schedules. Despite these challenges, we still delivered solid organic growth for the quarter."
Gross margin for the third quarter of fiscal 2019 of $755.2 million increased 7.8% from last year's third quarter. Gross margin as a percentage of revenue was 44.9% for the third quarter of fiscal 2019 compared to 44.1% in the third quarter of last fiscal year. Uniform Rental and Facility Services operating segment gross margin as a percentage of revenue also improved 80 basis points from last year's third quarter to 44.9%, and the First Aid and Safety Services operating segment gross margin percentage improved 130 basis points to 48.2%.
Operating income for the third quarter of fiscal 2019 of $278.3 million increased 39.1% from last year's third quarter operating income of $200.0 million. Operating income as a percentage of revenue was 16.5% in the third quarter of fiscal 2019 compared to 12.6% in the third quarter of fiscal 2018. Operating income was negatively impacted by integration expenses related to the G&K Services, Inc. (G&K) acquisition by $0.8 million in the third quarter of fiscal 2019 and $9.8 million in the third quarter of fiscal 2018. Operating income in the third quarter of fiscal 2018 was also reduced $39.7 million by a one-time cash payment to Cintas employees following the enactment of The Tax Cuts and Jobs Act (Tax Act) signed into legislation on December 22, 2017. Excluding the integration expenses related to the G&K acquisition and the one-time cash payment to employees, operating income as a percentage of revenue was 16.6% in the third quarter of fiscal 2019 compared to 15.7% in the third quarter of last fiscal year.
Net income from continuing operations was $200.9 million for the third quarter of fiscal 2019, compared to $295.8 million in the third quarter of fiscal 2018. Earnings per diluted share (EPS) from continuing operations were $1.83 for the third quarter of fiscal 2019, compared to $2.66 in the prior year third quarter. G&K acquisition integration expenses negatively impacted EPS in the third quarter of fiscal year 2019 and 2018 by $0.01 and $0.06, respectively. Earnings per diluted share from continuing operations in the third quarter of fiscal 2018 also included a negative impact of $0.24 from the one-time cash payment to employees and a positive impact of $1.59 from benefits under the Tax Act, primarily due to a one-time revaluation of deferred tax assets and liabilities.
The following table provides a comparison of fiscal 2019 third quarter EPS to fiscal 2018 third quarter EPS:
See table here (https://www.cintas.com/news/press-releases/cintas-announces-fiscal-2019-third-quarter-results/)
