Shares of Mondelez International Inc (NASDAQ:MDLZ) ended Wednesday session in red amid volatile trading. The shares closed down -0.15 points or -0.35% at $42.54 with 9.38 million shares getting traded. Post opening the session at $42.66, the shares hit an intraday low of $42.33 and an intraday high of $42.93 and the price vacillated in this range throughout the day. The company has a market cap of $64.87 billion and the numbers of outstanding shares have been calculated to be 1.56 billion shares.
Mondelez International Inc (MDLZ) on Sept. 14, 2016 confirmed a $65 million investment to build a global Research, Development & Quality (RDQ) network of the future. The investment will enable the company to better recruit, retain and develop talent across a range of science and technical disciplines while also creating a stronger presence in both emerging and developed markets. When complete, the redesigned network will consist of a combination of new and existing technical centers that will be more flexible and agile in responding to the company’s growth and innovation needs.
Over the next two years, the company will focus its RDQ network at nine advantaged technical centers, concentrating people and resources into better equipped hubs:
- Mexico City, Mexico
- East Hanover, N.J., United States
- Bournville, United Kingdom
- Reading, United Kingdom
- Wroclaw, Poland
- Thane, India
- Suzhou, China
- Jurong, Singapore
- Curitiba, Brazil
“With these advantaged technical centers, we’re focusing our investment in research, equipment and capabilities to drive innovation to support our growth strategy and innovation, margin and quality platforms,” said Rob Hargrove, Executive Vice President, RDQ. “These hubs will enable improved efficiency, effectiveness and accelerated project delivery, while the increased scale across key markets will provide rapid access to changing consumer needs and trends.”
Shares of Coty Inc (NYSE:COTY) ended Wednesday session in red amid volatile trading. The shares closed down -0.05 points or -0.21% at $24.09 with 8.34 million shares getting traded. Post opening the session at $24.06, the shares hit an intraday low of $23.94 and an intraday high of $24.29 and the price vacillated in this range throughout the day. The company has a market cap of $7.96 billion and the numbers of outstanding shares have been calculated to be 74.01 million shares.
Coty Inc (COTY) on August 16, 2016 announced financial results for the fourth quarter and fiscal year ended June 30, 2016.
Fiscal 2016 Summary
- Net revenues of $4,349.1 million decreased 1% as reported and like-for-like
- Reported operating income of $254.2 million decreased 36% from the prior-year, driven primarily by acquisition related costs
- Adjusted operating income of $622.9 million increased 3% from the prior-year
- Reported net income of $156.9 million decreased 33%, while adjusted net income of $485.2 million increased 19% from the prior-year
- Reported earnings per diluted share of $0.44 decreased 31%, while adjusted earnings per diluted share of $1.37 increased 21% from the prior-year
- Net cash provided by operating activities was $501.4 million compared to $526.3 million in the prior-year, despite an increase in cash acquisition-related costs of over $100 million relative to the prior year
Fourth Quarter Fiscal 2016 Summary
- Net revenues of $1,075.6 million increased 6% as reported and decreased 1% like-for-like
- Reported operating loss of $(2.9) million improved from $(23.4) million in the prior-year period
- Adjusted operating income of $94.2 million increased 19% from $79.2 million in the prior-year period
- Reported net loss of $(31.0) million declined from net income of $21.0 million, while adjusted net income of $45.7 million increased 6% from $43.1 million in the prior-year period
- Reported earnings per diluted share of $(0.09) decreased from $0.05, while adjusted earnings per share of $0.13 increased 8% from $0.12 in the prior-year period
- Net cash provided by operating activities was $56.1 million compared to $138.1 million in the prior-year period
Commenting on Coty’s performance, Bart Becht, Chairman and Interim CEO said: “Fiscal 2016 showed our continued progress in our strategy of building a healthier and better business. In support of this strategy, we are actively preparing for the transformational merger with the P&G Beauty Brands business. During the year, reported revenues were positively impacted by our completed acquisitions, in line with our strategy, but negatively impacted by foreign currency. On a like-for-like basis, we drove net revenue growth in our Power Brands, on which we put disproportionate focus, outperforming the overall business. Reported operating and net income were lowered by acquisition related costs. On an adjusted basis, we generated solid growth in profitability and margins, with strong growth in the full year EPS.