Tag Archives: Company Description

Business, Finance, Occupation & Industry

Buenaventura Announces Contractors Strike at Uchucchacua Mine

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By Business Wirevia The Motley Fool

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Buenaventura Announces Contractors Strike at Uchucchacua Mine

LIMA, Peru–(BUSINESS WIRE)– Compañía de Minas Buenaventura S.A.A. (“Buenaventura”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru‘s largest publicly traded, precious metals mining company announced today that the Uchucchacua contractors began a strike yesterday.

The cited reason for the strike is for obtaining special economic benefits.

The Company would like to point out that annual negotiations between the Contractors with their Unions were closed in January.

The Peruvian Ministry of Labor has denied the proceeding of the strike at this time.

The Company will update accordingly as any developments occur.

Company Description

Compañía de Minas Buenaventura S.A.A. is Peru‘s largest, publicly traded precious metals Company and a major holder of mining rights in Peru. The Company is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines, as well as through its participation in joint exploration projects.

Buenaventura currently operates several mines in Peru (Orcopampa*, Poracota*, Uchucchacua*, Breapampa*, Mallay*, Antapite*, Julcani*, Recuperada*, El Brocal, La Zanja, Coimolache and CEDIMIN*).

The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corporation), an important precious metal producer; 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer, and 49% of Canteras del Hallazgo S.A, owner the Chucapaca project.

For a printed version of the Company’s 2011 Form 20-F, please contact the persons indicated above, or download a PDF format file from the Company’s web site.

(*) Operations wholly owned by Buenaventura

Note on Forward-Looking Statements

This press release may contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning the Company’s, Yanacocha’s and Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to the Company’s, Yanacocha’s and Cerro Verde’s future financial performance. Actual results could differ

From: http://www.dailyfinance.com/2013/04/17/buenaventura-announces-contractors-strike-at-uchuc/

Business, Finance, Occupation & Industry

Grupo Aeroportuario del Pacifico, S.A.B. de C.V. Informs

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By Business Wirevia The Motley Fool

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Grupo Aeroportuario del Pacifico, S.A.B. de C.V. Informs

GUADALAJARA, Mexico–(BUSINESS WIRE)– Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP“) informs that it has been notified that, in the protection proceeding by which the Company had appealed a intermediate decision in the lawsuit filed by Grupo México, S.A.B. de C.V. (“Grupo México”) seeking the declaration of invalidity of the Company’s bylaws, and by virtue of the application of certain federal precedents regarding such protection proceedings, the court granted GAP‘s petition for a suspension of the intermediate court’s decision that had declared invalid Articles X and XII of the Company’s bylaws. The court’s decision of suspension confirms that which is set forth in Article 1343 of the Commercial Code, namely that the lower courts’ decisions at the trial and intermediate level are not carried out until all ordinary and extraordinary measures of redress by GAP have been exhausted.

As a result of this decision, GAP confirms that Articles X and XII of its bylaws remain valid and binding, and, consequently, GAP‘s shareholders are required to adhere to them.

Company Description:

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Bajio, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, GAP‘s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP“.

This press release may contain forward-looking statements. These statements are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates,” “believes,” “estimates,” “expects,” “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial conditions, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors.

From: http://www.dailyfinance.com/2013/04/11/grupo-aeroportuario-del-pacifico-sab-de-cv-informs/

Business, Finance, Occupation & Industry

Grupo Aeroportuario del Pacifico Reports Passenger Traffic Increase of 9.1% for March 2013

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By Business Wirevia The Motley Fool

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Grupo Aeroportuario del Pacifico Reports Passenger Traffic Increase of 9.1% for March 2013

GUADALAJARA, Mexico–(BUSINESS WIRE)– Grupo Aeroportuario del Pacifico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP“) announced today preliminary terminal passenger traffic figures for the month of March 2013 compared to traffic figures for March 2012.

During March 2013, total terminal passengers increased 9.1% compared to the previous year. Domestic passenger traffic increased 9.9%, while international passenger traffic increased 8.0% compared to March 2012.

Recent Events:

Notably, Holy Week / Easter took place during the month of April, in 2012. In 2013, however, Holy Week took place during March, while Easter took place in April. As a result, figures will be comparable in April 2013.

Also during March, it is important to mention the launch of two new routes: the first is Tijuana to Cancun by Volaris and secondly, Los Cabos to Denver, by Southwest Airlines (operated by Air Tran Airways).

Company Description:

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates twelve airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six mid-sized cities: Hermosillo,Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis. In March 2006, GAP‘s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP“.

This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Grupo Aeroportuario del Pacifico, S.A.B. de C.V. Announces

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By Business Wirevia The Motley Fool

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Grupo Aeroportuario del Pacifico, S.A.B. de C.V. Announces

GUADALAJARA, Mexico–(BUSINESS WIRE)– Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP“) announced that based on the press release distributed February 26, 2013, the Company has filed an appeal before a Federal Court challenging the decision of an intermediate appellate court that confirmed the decision of the state civil court of Mexico City that found certain of the Company’s by-laws to be invalid.

As a result, GAP confirms that its by-laws remain valid and binding and consequently, require all of the Company’s shareholders to adhere to the Company’s by-laws.

Company Description:

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico‘s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Bajio, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, GAP‘s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP“.

This press release may contain forward-looking statements. These statements are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates,” “believes,” “estimates,” “expects,” “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial conditions, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that may involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Polypore Earnings Trickle To A Halt

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By Zacks.com

Polypore International, Inc. (PPO) reported its third consecutive earnings miss on February 20, driven by a 6% decline in sales. This prompted analysts to revise their estimates for both 2013 and 2014 significantly lower, sending the stock to a ZacksRank #5 (Strong Sell).
Despite the negative earnings momentum, shares still trade at a premium on a forward price-to-earnings and price-to-book basis. This doesn’t bode well for shares over the next several weeks.
Company Description
Polypore International is a high technology filtration company that develops, manufactures and markets specialized polymer-based microporous membranes used in separation and filtration processes. Its products are used in two primary segments: energy storage (75% of total sales) and separations media (25%).
The company is headquartered in Charlotte, North Carolina and has a market cap of $1.8 billion.
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Fourth Quarter Results
Polypore reported fourth quarter results on February 20. Adjusted earnings per share came in at 33 cents, falling well short of the Zacks Consensus Estimate of 46 cents. It was the company’s third consecutive earnings miss.
Sales declined 6% to $180.2 million, falling well short of the consensus of $191.0 million. The ‘Electronics and Electric Drive Vehicles (EDVs)’ division within the energy storage segment was particularly soft due to weak end-market demand.
Estimates Falling
Following the Q4 earnings miss, analysts revised their estimates significantly lower for both 2013 and 2014. This sent the stock to a Zacks Rank #5 (Strong Sell). The 2013 Zacks Consensus Estimate is now $1.69, down from $2.08 just 30 days ago. And the 2014 consensus is now $2.21, down from $2.73. You can see this sharp decline in the company’s ‘Price & Consensus’ chart: …read more
Source: FULL ARTICLE at Forbes Markets

Business, Finance, Occupation & Industry

Big 5 Hits Home Run As Sales Boom

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By Zacks.com

Big 5 Sporting Goods Corporation (BGFV) recently delivered its third consecutive positive earnings surprise on the back of its largest same-store sales increase in over 10 years. Despite a relatively modest earnings beat, analysts revised their estimates significantly higher for both 2013 and 2014, sending the stock to a ZacksRank #1 (Strong Buy).
The company also announced a 33% increase in its quarterly dividend. It now yields a solid 2.6%. And valuation looks reasonable too with shares trading below the industry median.
Company Description
Big 5 is a sporting goods retailer in the western United States with 414 stores in 12 states. It operates under the “Big 5 Sporting Goods” name. The company was founded in 1955 and is headquartered in El Segundo, California. It has a market cap of $334 million.
Strong Fourth Quarter Results
Big 5 delivered better than expected fourth quarter results on February 26. Earnings per share came in at 19 cents, beating the Zacks Consensus Estimate by a penny. It was the company’s third straight positive earnings surprise.
Net sales increased 7.4% to $243.6 million, ahead of the Zacks Consensus Estimate of $242.0 million. This was driven by a 6.5% increase in same-store sales, which was its largest increase in over 10 years. Meanwhile, the gross profit margin expanded 100 basis points to 32.2% of net sales. On top of this, the company leveraged its selling and administrative expenses, which declined 210 basis points to 29.2% of net sales.
In the press release, the company also announced a 33% increase in its quarterly dividend to 10 cents per share. It now yields a solid 2.6%.
Estimates Surging Higher
Despite a relatively modest EPS beat, analysts revised their estimates significantly higher for both 2013 and 2014, sending the stock to a Zacks Rank #1 (Strong Buy). Over the last 30 days, the 2013 consensus has surged from $0.88 to $1.07. Meanwhile, the 2014 consensus has increased from $1.09 to $1.23.
Based on current consensus estimates, analysts project 47% EPS growth this year and 15% growth next year. The company currently anticipates opening approximately 15-20 new stores in 2013, including three relocations, and closing approximately three relocated stores.
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Reasonable Valuation
Given Big 5’s strong growth projections, you might expect a sky-high P/E multiple. But that’s not the case. Shares trade a relatively modest 14x 12-month forward earnings, a discount to the industry multiple of 16x. And its price to book ratio of 2.0 is well below the 3.3 median for its peers. …read more
Source: FULL ARTICLE at Forbes Markets