Le Lézard
Classified in: Science and technology, Business
Subjects: EARNINGS, Sales

 NICE Reports 29% Growth in Cloud Revenue For the Full Year 2019


NICE (NASDAQ: NICE) today announced results for the fourth quarter and full year ended December 31, 2019.

Full Year 2019 Financial Highlights

GAAP

Non-GAAP

Record revenue of $1,574 million, growth of 9% year-over-year

Record revenue of $1,577 million, growth of 9% year-over-year

Cloud revenue of $596 million, growth of 29% year-over-year

Cloud revenue of $599 million, growth of 28% year-over-year

Gross margin of 66.2% compared to 65.6% last year

Gross margin of 71.3% compared to 71.0% last year

Record operating income of $239 million compared to $198
million last year, 21% growth year-over-year

Record operating income of $434 million compared to $384
million last year,13% growth year-over-year

Operating margin of 15.2% compared to 13.7% last year

Operating margin of 27.5% compared to 26.4% last year

Record diluted EPS of $2.88 versus $2.52 last year, 14% growth year-over-year

Record diluted EPS of $5.31 versus $4.75 last year, 12% growth year-over-year

Fourth Quarter 2019 Financial Highlights

GAAP

Non-GAAP

Record revenue of $430 million, growth of 5% year-over-year

Record revenue of $431 million, growth of 4% year-over-year

Cloud revenue of $167 million, growth of 27% year-over-year

Cloud revenue of $168 million, growth of 25% year-over-year

Gross margin of 68.1% compared to 66.9% last year

Gross margin of 72.8% compared to 71.9% last year

Record operating income of $78 million compared to $70 million last year

Record operating income of $130 million compared to $119 million last year

Operating margin of 18.0% compared to 17.1% last year

Operating margin of 30.2% compared to 28.8% last year

Diluted EPS of $0.95 versus $0.98 last year

Record diluted EPS of $1.58 versus $1.48 last year

"We are pleased to end the year on a high note with strong overall financial results, which were driven by continued strength in cloud revenue," said Barak Eilam, CEO, NICE. "Our cloud revenue, which represented 38% of total revenues for the full-year 2019 compared to 32% for 2018, is being powered by the ongoing rapid adoption in all market segments of our CXone cloud platform. In 2019, we also maintained a sharp focus on operational efficiency demonstrated by continued strong growth in the operating margin and bottom line earnings per share."

Mr. Eilam continued, "2019 was a pivotal year as it marked the end point of our NICE 2020 plan. We far exceeded the goals we set for ourselves at the onset of NICE 2020, and the success we had is paving the way for NICE 2025. Over the next several years, we will continue to witness rapid changes in our markets, including cloud becoming the default choice for enterprises of all sizes globally, digital engagements growing exponentially and virtually every process being powered by AI and analytics. We are in the driver's seat and in a very strong competitive position to capitalize on these changes taking place with the three most robust platforms in our markets ? CXone for Customer Experience, X-Sight for Financial Crime and Compliance and NICE Investigate for Public Safety."

NICE Investor Day
NICE will be hosting its Investor Day on May 12th in conjunction with its Interactions annual user conference in Las Vegas. The special program for analysts and investors will include meetings with NICE executives, presentations from customers, product and technology sessions, and access to the solutions showcase. If you haven't registered, please email NICE at IR@NICE.com.

Share Repurchase Program
The Company announced that its Board of Directors has authorized a new program to repurchase up to $200 million of its issued and outstanding ordinary shares and ADRs. Repurchases may be made from time to time in the open market or in privately negotiated transactions and will be in accordance with applicable securities laws and regulations. The timing and amount of the repurchase transactions will be determined by management and may depend on a variety of factors, including market conditions, alternative investment opportunities and other considerations. The program does not obligate the Company to acquire any particular amount of ordinary shares and ADRs and the program may be modified or discontinued at any time without prior notice. This new program is in addition to the repurchase program previously authorized by the Company's Board of Directors announced in January 2017, in which approximately $60 miilion remains available for repurchases.

GAAP Financial Highlights for the Fourth Quarter and Full Year Ended December 31:

Revenues: Fourth quarter 2019 total revenues increased 4.7% to $430.2 million compared to $410.8 million for the fourth quarter of 2018.

Full year 2019 total revenues increased 9.0% to $1,573.9 million compared to $1,444.5 million for the full year 2018.

Gross Profit: Fourth quarter 2019 gross profit increased to $292.9 million compared to $274.7 million for the fourth quarter of 2018 and fourth quarter 2019 gross margin also increased to 68.1% compared to 66.9% for the fourth quarter of 2018.

Full year 2019 gross profit and gross margin increased to $1,042.1 million and 66.2%, respectively, compared to $947.7 million and 65.6%, respectively, for the full year 2018.

Operating Income: Fourth quarter 2019 operating income and operating margin increased to $77.6 million and 18.0%, respectively, compared to $70.4 million and 17.1%, respectively, for the fourth quarter of 2018.

Full year 2019 operating income and operating margin increased to $238.7 million and 15.2%, respectively, compared to $197.6 million and 13.7%, respectively, for the full year 2018.

Net Income: Fourth quarter 2019 net income and net income margin were $61.7 million and 14.4%, respectively, compared to $62.3 million and 15.2%, respectively, for the fourth quarter of 2018.

Full year 2019 net income and net income margin increased to $185.9 million and 11.8%, respectively, compared to $159.3 million and 11.0%, respectively, for the full year 2018.

Fully Diluted Earnings Per Share: Fully diluted earnings per share for the fourth quarter of 2019 was $0.95 compared to $0.98 in the fourth quarter of 2018.

Fully diluted earnings per share for the full year 2019 increased to $2.88 compared to $2.52 for the full year 2018.

Operating Cash Flow and Cash Balance: Fourth quarter 2019 operating cash flow was $91.4 million and full year operating cash flow reached $374.2 million. In the fourth quarter, $24.7 million was used for share repurchases and $47.3 million was used for share repurchases for the full year of 2019. As of December 31, 2019, total cash and cash equivalents, short and long term investments were $981.5 million, and total debt was $464.9 million.

Non-GAAP Financial Highlights for the Fourth Quarter and Full Year Ended December 31:

Revenues: Fourth quarter 2019 Non-GAAP total revenues increased to $431.1 million, up 4.3% from $413.4 million for the fourth quarter of 2018.

Non-GAAP total revenues for the full year 2019 increased 8.5% to $1,577.5 million compared to $1,453.4 million for the full year 2018.

Gross Profit: Fourth quarter 2019 Non-GAAP gross profit increased to $313.8 million compared to $297.4 million for the fourth quarter of 2018. Fourth quarter 2019 Non-GAAP gross margin also increased to 72.8% compared to 71.9% for the fourth quarter of 2018.

Full year 2019 Non-GAAP gross profit increased to $1,125.3 million compared to $1,032.0 million and full year 2019 Non-GAAP gross margin also increased 71.3% compared to 71.0% for the full year 2018.

Operating Income: Fourth quarter 2019 Non-GAAP operating income increased to $130.2 million compared to $119.1 million for the fourth quarter of 2018. Fourth quarter 2019 Non-GAAP operating margin also increased to 30.2% compared to 28.8% for the fourth quarter of 2018.

Full year 2019 Non-GAAP operating income and Non-GAAP operating margin increased to $434.4 million and 27.5%, respectively, from $383.5 million and 26.4%, respectively, for the full year 2018.

Net Income: Fourth quarter 2019 Non-GAAP net income and Non-GAAP net income margin increased to $102.6 million and 23.8%, respectively, from $94.3 million and 22.8%, respectively, for the fourth quarter of 2018.

Full year 2019 Non-GAAP net income and Non-GAAP net income margin increased to $343.4 million and 21.8%, respectively, from $300.6 million and 20.7%, respectively, for the full year 2018.

Fully Diluted Earnings Per Share: Fourth quarter 2019 Non-GAAP fully diluted earnings per share increased 6.8% to $1.58, compared to $1.48 for the fourth quarter of 2018.

Full year 2019 Non-GAAP fully diluted earnings per share increased 11.8% to $5.31 compared to $4.75 for the full year 2018.

First Quarter and Full Year 2020 Guidance:

First Quarter 2020: First quarter 2020 Non-GAAP total revenues are expected to be in a range of $406 million to $416 million. First quarter 2020 Non-GAAP fully diluted earnings per share are expected to be in a range of $1.27 to $1.37.

Full Year 2020: Full year 2020 Non-GAAP total revenues are expected to be in a range of $1,690 million to $1,710 million. Full year 2020 Non-GAAP fully diluted earnings per share are expected to be in a range of $5.65 to $5.85.

Quarterly Results Conference Call

NICE management will host its earnings conference call today February 13th, 2020 at 8:30 AM ET, 13:30 GMT, 15:30 Israel, to discuss the results and the company's outlook. To participate in the call, please dial into the following numbers: United States 1-866-804-8688 or +1-718-354-1175, International +44(0)1296-480-100, United Kingdom 0-800-783-0906, Israel 1-809-344-364. The Passcode is 423 238 18. Additional access numbers can be found at http://www.btconferencing.com/globalaccess/?bid=54_attended. The call will be webcast live on the Company's website at https://www.nice.com/investor-relations/upcoming-event. An online replay will also be available approximately two hours following the call. A telephone replay of the call will be available for 7 days after the live broadcast and may be accessed by dialing: United States 1-877-482-6144, International +44(0)20-7136-9233, United Kingdom 0-800-032-9687. The Passcode for the replay is 372 354 60.

Non-GAAP financial measures are included in this press release. Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude share-based compensation, amortization of acquired intangible assets, acquisition related expenses, amortization of discount on long term debt and the tax effect of the Non-GAAP adjustments. Business combination accounting rules require the recognition of a legal performance obligation related to a revenue arrangement of an acquired entity as a liability. The amount assigned to such liability should be based on its fair value at the date of acquisition. The Non-GAAP adjustment for a revenue arrangement is intended to reflect the full amount of such revenue. The Company believes that these Non-GAAP financial measures, used in conjunction with the corresponding GAAP measures, provide investors with useful supplemental information about the financial performance of our business. We believe Non-GAAP financial measures are useful to investors as a measure of the ongoing performance of our business. Our management regularly uses our supplemental Non-GAAP financial measures internally to understand, manage and evaluate our business and to make financial, strategic and operating decisions. These Non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Our Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. These Non-GAAP financial measures may differ materially from the Non-GAAP financial measures used by other companies. Reconciliation between results on a GAAP and Non-GAAP basis is provided in a table immediately following the Consolidated Statements of Income. The Company provides guidance only on a Non-GAAP basis. A reconciliation of guidance from a GAAP to Non-GAAP basis is not available due to the unpredictability and uncertainty associated with future events that would be reported in GAAP results and would require adjustments between GAAP and Non-GAAP financial measures, including the impact of future possible business acquisitions. Accordingly, a reconciliation of the guidance based on Non-GAAP financial measures to corresponding GAAP financial measures for future periods is not available without unreasonable effort.

About NICE
NICE (Nasdaq: NICE) is the worldwide leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE. All other marks are trademarks of their respective owners. For a full list of NICE' marks, please see: http://www.nice.com/nice-trademarks.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements may be identified by words such as "believe," "expect," "seek," "may," "will," "intend," "should," "project," "anticipate," "plan," and similar expressions. Forward-looking statements are based on the current beliefs, expectations and assumptions of the Company's management regarding the future of the Company's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Examples of forward-looking statements include guidance regarding the Company's revenue and earnings and the growth of our cloud, analytics and artificial intelligence business.

Forward looking statements are inherently subject to significant economic, competitive and other uncertainties and contingencies, many of which are beyond the control of management. The Company cautions that these statements are not guarantees of future performance, and investors should not place undue reliance on them. There are or will be important known and unknown factors and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These factors, include, but are not limited to, risks associated with competition, success and growth of the Company's cloud Software-as-a-Service business, cyber security attacks or other security breaches against the Company, privacy concerns and legislation impacting the Company's business, the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners, changes in general economic and business conditions, rapidly changing technology, changes in currency exchange rates and interest rates, difficulties in making additional acquisitions or effectively integrating acquired operations, products, technologies and personnel, successful execution of the Company's growth strategy, the effects of tax reforms and of newly enacted or modified laws, regulation or standards on the Company and its products, and other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC"). You are encouraged to carefully review the section entitled "Risk Factors" in our latest Annual Report on Form 20-F and our other filings with the SEC for additional information regarding these and other factors and uncertainties that could affect our future performance. The forward-looking statements contained in this presentation speak only as of the date hereof, and the Company undertakes no obligation to update or revise them, whether as a result of new information, future developments or otherwise, except as required by law.

###

NICE LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
U.S. dollars in thousands (except per share amounts)
 
 
Quarter ended Year ended
December 31, December 31,

2019

2018

2019

2018

Unaudited

Unaudited

Audited

Audited

 
Revenue:
Product

$ 80,101

$ 92,941

$ 269,100

$ 263,805

Services

183,117

186,073

709,064

719,531

Cloud

166,990

131,815

595,748

461,183

Total revenue

430,208

410,829

1,573,912

1,444,519

 
Cost of revenue:
Product

6,076

7,679

22,926

31,065

Services

54,772

59,087

218,990

229,671

Cloud

76,434

69,389

289,852

236,079

Total cost of revenue

137,282

136,155

531,768

496,815

 
Gross profit

292,926

274,674

1,042,144

947,704

 
Operating expenses:
Research and development, net

52,165

46,807

193,718

183,830

Selling and marketing

106,221

100,421

399,304

370,659

General and administrative

46,841

46,275

168,022

153,323

Amortization of acquired intangible assets

10,107

10,764

42,383

42,276

Total operating expenses

215,334

204,267

803,427

750,088

 
Operating income

77,592

70,407

238,717

197,616

 
Finance and other expense, net

554

1,829

4,444

10,901

 
Income before tax

77,038

68,578

234,273

186,715

Taxes on income

15,295

6,284

48,369

27,377

Net income

$ 61,743

$ 62,294

$ 185,904

$ 159,338

 
Earnings per share:
Basic

$ 0.99

$ 1.01

$ 2.99

$ 2.60

Diluted

$ 0.95

$ 0.98

$ 2.88

$ 2.52

 
Weighted average shares outstanding:
Basic

62,357

61,824

62,120

61,387

Diluted

65,161

63,760

64,661

63,309

NICE LTD. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
U.S. dollars in thousands (except per share amounts)
 
Quarter ended Year ended
December 31, December 31,

2019

2018

2019

2018

GAAP revenues

$ 430,208

$ 410,829

$ 1,573,912

$ 1,444,519

Valuation adjustment on acquired deferred product revenue

-

-

15

97

Valuation adjustment on acquired deferred services revenue

-

44

5

632

Valuation adjustment on acquired deferred cloud revenue

842

2,550

3,534

8,181

Non-GAAP revenues

$ 431,050

$ 413,423

$ 1,577,466

$ 1,453,429

 
 
GAAP cost of revenue

$ 137,282

$ 136,155

$ 531,768

$ 496,815

Amortization of acquired intangible assets on cost of product

(1,134)

(870)

(4,106)

(5,889)

Amortization of acquired intangible assets on cost of services

(1,522)

(1,778)

(6,126)

(5,111)

Amortization of acquired intangible assets on cost of cloud

(15,323)

(15,504)

(60,441)

(53,901)

Valuation adjustment on acquired deferred cost of cloud

532

929

2,425

2,183

Cost of product revenue adjustment (1)

131

(113)

(173)

(360)

Cost of services revenue adjustment (1)

(1,941)

(1,867)

(8,192)

(7,629)

Cost of cloud revenue adjustment (1,2)

(813)

(888)

(2,955)

(4,654)

Non-GAAP cost of revenue

$ 117,212

$ 116,064

$ 452,200

$ 421,454

 
 
GAAP gross profit

$ 292,926

$ 274,674

$ 1,042,144

$ 947,704

Gross profit adjustments

20,912

22,685

83,122

84,271

Non-GAAP gross profit

$ 313,838

$ 297,359

$ 1,125,266

$ 1,031,975

 
 
GAAP operating expenses

$ 215,334

$ 204,267

$ 803,427

$ 750,088

Research and development (1,2)

(2,896)

(1,648)

(8,078)

(8,425)

Sales and marketing (1,2)

(7,468)

(5,371)

(26,679)

(27,650)

General and administrative (1,2)

(11,327)

(8,584)

(35,705)

(23,740)

Amortization of acquired intangible assets

(10,107)

(10,764)

(42,383)

(42,276)

Valuation adjustment on acquired deferred commission

62

322

307

443

Non-GAAP operating expenses

$ 183,598

$ 178,222

$ 690,889

$ 648,440

 
 
GAAP finance & other expense (income), net

$ 554

$ 1,829

$ 4,444

$ 10,901

Amortization of discount on long-term debt

(2,388)

(2,179)

(9,235)

(8,670)

Non-GAAP finance & other expense (income), net

$ (1,834)

$ (350)

$ (4,791)

$ 2,231

 
 
GAAP taxes on income

$ 15,295

$ 6,284

$ 48,369

$ 27,377

Tax adjustments re non-GAAP adjustments

14,142

18,939

47,400

53,352

Non-GAAP taxes on income

$ 29,437

$ 25,223

$ 95,769

$ 80,729

 
 
GAAP net income

$ 61,743

$ 62,294

$ 185,904

$ 159,338

Valuation adjustment on acquired deferred revenue

842

2,594

3,554

8,910

Valuation adjustment on acquired deferred cost of cloud revenue

(532)

(929)

(2,425)

(2,183)

Amortization of acquired intangible assets

28,086

28,916

113,056

107,177

Valuation adjustment on acquired deferred commission

(62)

(322)

(307)

(443)

Share-based compensation (1)

24,314

18,471

80,939

67,223

Acquisition related expenses (2)

-

-

843

5,235

Amortization of discount on long term debt

2,388

2,179

9,235

8,670

Tax adjustments re non-GAAP adjustments

(14,142)

(18,939)

(47,400)

(53,352)

Non-GAAP net income

$ 102,637

$ 94,264

$ 343,399

$ 300,575

 
 
GAAP diluted earnings per share

$ 0.95

$ 0.98

$ 2.88

$ 2.52

 
Non-GAAP diluted earnings per share

$ 1.58

$ 1.48

$ 5.31

$ 4.75

 
Shares used in computing GAAP diluted earnings per share

65,161

63,760

64,661

63,309

 
Shares used in computing non-GAAP diluted earnings per share

65,161

63,760

64,661

63,309

 
NICE LTD. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP RESULTS (continued)
U.S. dollars in thousands
 
 
 
 

(1)

Share-based Compensation
Quarter ended Year to date
December 31, December 31,

2019

2018

2019

2018

 
Cost of product revenue

$ (131)

$ 113

$ 173

$ 360

Cost of services revenue

1,941

1,867

8,192

7,629

Cost of cloud revenue

813

888

2,955

3,020

Research and development

2,896

1,648

8,073

7,354

Sales and marketing

7,468

5,371

26,649

27,455

General and administrative

11,327

8,584

34,897

21,405

$ 24,314

$ 18,471

$ 80,939

$ 67,223

 
 

(2)

Acquisition related expenses
Quarter ended Year to date
December 31, December 31,

2019

2018

2019

2018

 
Cost of cloud revenue

$ -

$ -

$ -

$ 1,634

Research and development

-

-

5

1,071

Sales and marketing

-

-

30

195

General and administrative

-

-

808

2,335

$ -

$ -

$ 843

$ 5,235

 

NICE LTD. AND SUBSIDIARIES

CONSOLIDATED CASH FLOW STATEMENTS
U.S. dollars in thousands
Quarter ended Year ended
December 31, December 31,

2019

2018

2019

2018

Unaudited Unaudited Audited Audited
 
Operating Activities
Net income

$ 61,743

$ 62,294

$ 185,904

$ 159,338

Depreciation and amortization

44,486

42,859

173,230

157,142

Stock based compensation

24,275

18,471

80,864

67,223

Amortization of premium and discount and accrued interest on marketable securities

134

(428)

(53)

(598)

Deferred taxes, net

18,899

2,882

(12,208)

(30,172)

Changes in operating assets and liabilities:
Trade Receivables

(56,763)

(69,500)

(29,863)

(72,583)

Prepaid expenses and other assets

11,977

2,609

(76,180)

(29,852)

Trade payables

5,850

3,082

777

(3,526)

Accrued expenses and other current liabilities

(22,059)

23,916

31,730

48,095

Operating lease right-of-use assets, net

7,262

-

19,104

-

Deferred revenue

499

20,941

13,810

92,768

Long term liabilities

(11)

(810)

(311)

(1,024)

Operating lease liabilities

(6,844)

-

(18,839)

-

Amortization of discount on long term debt

2,388

2,179

9,236

8,670

Other

(387)

408

(3,043)

1,128

Net cash provided by operating activities

91,449

108,903

374,158

396,609

 
Investing Activities
 
Purchase of property and equipment

(5,767)

(9,921)

(27,294)

(31,442)

Purchase of Investments

(125,165)

(145,033)

(619,060)

(429,500)

Proceeds from Investments

79,084

37,378

362,713

137,180

Capitalization of software development costs

(8,739)

(9,299)

(34,679)

(32,225)

Payments for business and asset acquisitions, net of cash acquired

-

270

(25,972)

(104,776)

Net cash used in investing activities

(60,587)

(126,605)

(344,291)

(460,763)

 
Financing Activities
 
Proceeds from issuance of shares upon exercise of share options

717

1,072

5,428

19,048

Purchase of treasury shares

(24,664)

(15,391)

(47,276)

(26,004)

Repayment of short-term bank loan

-

-

-

(8,436)

Capital Lease payments

(185)

(876)

(816)

(876)

Net cash used in financing activities

(24,132)

(15,195)

(42,664)

(16,268)

 
Effect of exchange rates on cash and cash equivalents

754

(1,174)

(979)

(5,781)

 
Net change in cash and cash equivalents

7,484

(34,071)

(13,776)

(86,203)

Cash and cash equivalents, beginning of period

$ 220,839

$ 276,170

$ 242,099

$ 328,302

 
Cash and cash equivalents, end of period

$ 228,323

$ 242,099

$ 228,323

$ 242,099

NICE LTD. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
 
December 31, December 31,

2019

2018

Audited Audited
 
ASSETS
 
CURRENT ASSETS:
Cash and cash equivalents

$ 228,323

$ 242,099

Short-term investments

210,772

243,729

Trade receivables

319,622

287,963

Prepaid expenses and other current assets

116,972

87,450

 
Total current assets

875,689

861,241

 
LONG-TERM ASSETS:
Long-term investments

542,389

244,998

Property and equipment, net

141,647

140,338

Deferred tax assets

30,513

12,309

Other intangible assets, net

411,019

508,232

Operating lease right-of-use assets

106,196

-

Goodwill

1,378,418

1,366,206

Other long-term assets

124,034

74,042

 
Total long-term assets

2,734,216

2,346,125

 
TOTAL ASSETS

$ 3,609,905

$ 3,207,366

 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
CURRENT LIABILITIES:
Trade payables

$ 30,376

$ 29,617

Deferred revenues and advances from customers

245,792

221,387

Current maturities of operating leases

21,519

-

Accrued expenses and other liabilities

391,685

373,908

 
Total current liabilities

689,372

624,912

 
LONG-TERM LIABILITIES:
Deferred revenues and advances from customers

26,045

35,112

Operating leases

103,490

-

Deferred tax liabilities

52,509

44,140

Long-term debt

464,896

455,985

Other long-term liabilities

16,327

30,604

 
Total long-term liabilities

663,267

565,841

 
SHAREHOLDERS' EQUITY

2,257,266

2,016,613

 
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

$ 3,609,905

$ 3,207,366

 


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Junshi Biosciences (HKEX: 1877), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies, announced its audited consolidated annual results of the Company and its...

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Cooper's Hawk Vineyards and Restaurants (CHV), a boutique winery nestled in southwestern Ontario, is leading the pack when it comes to embracing the new virtual reality that is facing wineries and doing it in record time, something that should...

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American Finance Trust, Inc. ("AFIN" or the "Company") announced today that its Board of Directors approved a reduction in the Company's annualized dividend to $0.85 per share from $1.10 per share due to the uncertain and rapidly changing...

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Grupo IDESA, S.A. de C.V. (the "Company") today announced that it has issued a supplement (the "Supplement") to amend the Offering Memorandum dated March 23, 2020 (the "Offering Memorandum") to clarify information about the proposed collateral...

at 12:30
Albertans with legal problems due to COVID-19 are being offered a free resource to get them out of difficulties and on the right track - a free lawyer from Resolve Legal. "People have legal problems and we have answers. We wanted to put those two...

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Stonepeak Infrastructure Partners ("Stonepeak") announced that it has completed the previously announced transaction to acquire TRAC Intermodal ("TRAC"), a leading intermodal infrastructure provider, and its subsidiaries from investment funds managed...



News published on 13 february 2020 at 05:40 and distributed by: