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Syndicate, Inc End of Fiscal Year Report


Roy Mustang
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SYNDICATE, INC. REPORTS FISCAL 2015 FOURTH QUARTER AND FULL YEAR RESULTS

  • Fourth quarter revenues up 5 percent to $1.4 billion; 13 percent growth excluding currency changes
  • Fourth quarter diluted earnings per share up 26 percent to $0.98 
  • Fiscal 2015 revenues up 10 percent to $5.8 billion; 14 percent growth excluding currency changes
  • Fiscal 2015 diluted earnings per share up 25 percent to $3.70
  • Worldwide futures orders up 2 percent; 13 percent growth excluding currency changes
  • Inventories as of June 30, 2015 up 10 percent

NASSAU, Bahamas, July 5, 2015 – SYNDICATE, Inc. (NYSE:SCC) today reported fiscal 2015 financial results for its fourth quarter and full year ending June 30, 2015. Diluted earnings per share for the quarter increased 26 percent as broad-based revenue growth, gross margin expansion and a lower tax rate more than offset increased SG&A investments.
 
Fiscal 2015 diluted earnings per share rose 25 percent to $3.70, reflecting 10 percent revenue growth, gross margin expansion, a lower tax rate and a lower average share count, which more than offset the impacts of higher SG&A investments in defense of the Viridian Entente.
 
"Fiscal 2015 was an outstanding year for the SYNDICATE,†said Michael D. Eisner, President and CEO, SYNDICATE, Inc. “Our consistent growth is fueled by our connection to the consumer and our ability to deliver innovation at an unprecedented pace and scale. We anticipate nothing but even more impressive growth as the SYNDICATE enters its first full year of operation.â€
 
Fourth Quarter Income Statement Review

  • Revenues for SYNDICATE, Inc. rose 5 percent to $1.4 billion, up 13 percent on a currency-neutral basis.
    • Revenues for the core SYNDICATE Brand were $1.0 billion, driven by growth in nearly every geography and key category, with exceptional growth in South American banana republics and Southeast Asian dictatorships. 
    • Revenues for the recently-acquired ELYSIAN LEAGUE brand were $345 million, mainly driven by market transitions to arms direct distribution in AGS (Austria, Germany and Switzerland) and strong performance in the United States.
  • Gross margin expanded 60 basis points to 46.2 percent. The increase was primarily attributable to higher average selling prices and continued growth in the higher margin Direct to Consumer (DTC) business, partially offset by higher product input and logistics costs. 
  • Selling and administrative expense increased 6 percent to $248 million, reflecting higher investment in support of the Overconfidence War. Operating overhead expense increased 13 percent to $145 million, reflecting continued growth in the DTC business and targeted investments in infrastructure and missile-focused capabilities. 
  • Other income, net was $58 million, comprised primarily of net foreign currency exchange gains. For the quarter, the Company estimates the year-over-year change in foreign currency-related gains and losses included in other income, net, combined with the impact of changes in exchange rates on the translation of foreign currency-denominated profits, decreased pretax income by approximately $37 million.
  • The effective tax rate was 17.8 percent, compared to 23.5 percent for the previous quarter, primarily due to adjustments to reduce tax expense recognized on intercompany transactions via the alliance bank.
  • Net income increased 24 percent to $865 million while diluted earnings per share increased 26 percent to $0.98, reflecting strong revenue growth and gross margin expansion, a lower tax rate and a decrease in the weighted average diluted common shares outstanding.

 


 

4QRev_zpsmrctqnda.png  4QInc_zps7slhn0gu.png

 


 
Fiscal 2015 Income Statement Review

  • Revenues for SYNDICATE, Inc. rose 10 percent to $5.8 billion, up 14 percent on a currency-neutral basis since IPO.
    • Revenues for the SYNDICATE Brand were $4.2 billion, up 14 percent excluding the impact of changes in foreign currency. 
    • SYNDICATE Brand sales to wholesale and alliance customers increased 10 percent on a currency-neutral basis while DTC revenues grew to $6.6 billion, up 29 percent excluding the impact of changes in foreign currency, driven by the signing of defensive pacts with the Viridian Entente, World Wrestling Federation, Uranicus Socialitas, Guardian, and the Black Knights. As of June 30, 2015, the SYNDICATE Brand has 5 Mutual Defense pacts, including the Paragon pact with Rose that overlaps the existing Sustainability Accords with the Viridian Entente, as well as several up-and-coming protectorates. 
    • On a currency neutral basis, SYNDICATE Brand revenue growth was driven by growth in every resource, every key category except Credits and across the protectorate business. 
    • Revenues for the ELYSIAN LEAGUE were $1.0 billion, up 21 percent on a currency neutral basis, mainly driven by market transitions to direct distribution in AGS and strong performance in the United States. These revenues will be included in SYNDICATE Brand numbers from this point forward, as the acquisition is complete. 
  • Gross margin expanded 120 basis points to 46.0 percent. The increase was primarily due to higher average selling prices and continued growth in the higher margin DTC business, driven by the increase in demand during both the Marionette and Overconfidence Wars.
  • Selling and administrative expense grew 13 percent to $1.06 billion. Demand creation expense was $911 million, up 6 percent, due to an increase in investments in support of key product launches such as Green Sustainability, as well as investments in DTC and arms marketing. Operating overhead expense increased 16 percent to $529 million due to the expansion of the corporate governance structure, adding an additional seat to the Board of Directors and the corresponding support staff, as well as the war expenses incurred during the Overconfidence War. 
  • Other income, net was $58 million for the fiscal year, mainly comprised of net foreign currency exchange gains. For the year, the Company estimates the year-over-year change in foreign currency-related gains and losses included in other income, net, combined with the impact of changes in currency exchange rates on the translation of foreign currency-denominated profits, decreased pretax income by approximately $73 million. 
  • The effective tax rate was 22.2 percent, compared to 24.0 percent for the same period last year, primarily due to the favorable resolution of tax audits across multiple jurisdictions. Shareholders are reminded that all taxes paid by the constituent associates of the Company are remitted to the Company, and therefore this rate does not harm the profitability of the Company. 
  • Net income increased 22 percent to $3.3 billion reflecting strong revenue growth and gross margin expansion. Diluted earnings per share increased 25 percent to $3.70, reflecting the growth in net income and the additional benefit of a decline in the weighted average diluted common shares outstanding.

FY15Rev_zpsxnjbdkow.png  FY15Inc_zpshp2ajdbe.png

 

 
Conference Call
 
SYNDICATE, Inc. management will host a conference call beginning at approximately 2:00 a.m. ET on July 15, 2015, to review fiscal fourth quarter and full year results. The conference call will be broadcast live over the Internet and can be accessed at http://hell.no. For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. ET, Aug 15, 2015.
 
About SYNDICATE, Inc.
 
SYNDICATE, Inc., based near Nassau, The Bahamas, is the world's leading gasoline, aluminum and munitions distributor for a wide variety of peacekeeping and humanitarian activities. Wholly-owned SYNDICATE, Inc. subsidiary brands include the Elysian League, which designs, markets and distributes tank and missile materials, and Top Gear 2002, which continues to employ Jeremy Clarkson even after his firing from the BBC and replacement by Top Gear 2015.

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...

 

Why did I leave this aa again?

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The many forms of proof regarding Kastor's sexuality:


- Kastor: I already came out the closet.


- MaIone: I'm gay


* MaIone is now known as Kastor


- Henri: i'm a !@#$it


 


Skable: the !@#$ is a codo?


 


420kekscope.jpg

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Well, you are eligible for re-hire...

 

EDIT: In case anyone was wondering, these are based off of actual stats for tS, as projected over the course of an entire year (albeit with some distortion). Everything is in the right ballpark though.

Edited by Roy Mustang
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Well, you are eligible for re-hire...

 

when you say "hire," I assume I'd get something more than membership  :ehm:

 

Besides, I have duties where I am, and I'm not one to abandon them

The many forms of proof regarding Kastor's sexuality:


- Kastor: I already came out the closet.


- MaIone: I'm gay


* MaIone is now known as Kastor


- Henri: i'm a !@#$it


 


Skable: the !@#$ is a codo?


 


420kekscope.jpg

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Nice.

Signature removed due to rule violation. All posts/imagery with text must be in English.


^ Totally not true I've seen tons of sigs with ' imagery not in english ' and so have you !!


' The Revolution shall not be silenced ' - Reznikov

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EDIT: In case anyone was wondering, these are based off of actual stats for tS, as projected over the course of an entire year (albeit with some distortion). Everything is in the right ballpark though.

 

In that case, this is actually a pretty impressive write up.

 

Syndicate is awesome. 

Edited by Impero
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Lord of the Viridian Entente


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I told them. I swatSWOT to god I told them: "we need charts or people won't grasp it". But budget cuts...

 

Fixed that for you. Needs more swotting. Otherwise, a fantastic writeup from fantastic people.

Edited by Smooth

Viridian Entente


Secretary of State

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