Casella reports increase in revenues for FY17

first_imgFiscal Year Ended December 31, 416,054 Three Months EndedDecember 31, 64.3% $(0.29) —%Solid Waste Price3,499 $3,552 CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except for per share data) Unaudited 15,512 $7,798 Restricted assets 61,856 $1,995 — 13,747 13,011 Acquisitions, net of cash acquired(5,056) (1.2)%(Benefit) provision for income taxes(15,814) Vehicles, machinery, equipment and containers10,327 Stock-based compensation6,432 75,356 Fiscal Year Ended December 31, 2017Consolidated Net Leverage Ratio (i)3.68 15,425 (62,102) (54,200)Payments on landfill operating lease contracts(7,240) 1.4%Fuel surcharge and other fees728 Casella Waste Systems Inc,Vermont Business Magazine Casella Waste Systems, Inc (NASDAQ:CWST(link is external)), a regional solid waste, recycling and resource management services company based in Rutland, today reported its financial results for the three and twelve month periods ended December 31, 2017. Casella also provided guidance for the next fiscal year ending December 31, 2018. Revenues were up over 5 percent for the quarter and the year and net income was up for the quarter, but the net loss for the year increased versus 2016. Casella shares are trading at just over $25 and down slightly in after-hours performance and are on the high side of its 52-week range: $12.21 – $27.38.Highlights for the Three and Twelve Months Ended December 31, 2017:Revenues were $151.2 million for the quarter, up $7.4 million, or 5.2%, from the same period in 2016. Revenues were $599.3 million for the fiscal year, up $34.3 million, or 6.1%, from fiscal year 2016.Net income was $20.0 million for the quarter, as compared to a net loss of $(12.0) million for the same period in 2016. Net loss was $(21.8) million for the fiscal year, as compared to a net loss $(6.9) million in fiscal year 2016.Adjusted Net Income Attributable to Common Stockholders* was $4.6 million for the quarter, as compared to $1.9 million for the same period in 2016. Adjusted Net Income Attributable to Common Stockholders was $28.7 million for the fiscal year, as compared to $7.8 million in fiscal year 2016.Adjusted EBITDA was $30.2 million for the quarter, up $0.8 million, or 2.8%, from the same period in 2016. Adjusted EBITDA was $129.0 million for the fiscal year, up $8.4 million, or 7.0%, from fiscal year 2016.Net cash provided by operating activities was $107.5 million for the fiscal year, up $27.1 million, or 33.7%, from fiscal year 2016.Normalized Free Cash Flow was $38.8 million for the fiscal year, up $11.7 million, or 43.1%, from fiscal year 2016.On February 26, 2018, Standard & Poor’s increased our Corporate Credit Rating from ‘B’ to ‘B+’ with a positive outlook.“We had a strong operational quarter and a great year, as we continued to execute well against our key strategies,” said John W. Casella, Chairman and CEO of Casella Waste Systems, Inc. “We remain focused on creating shareholder value through increasing landfill returns, improving collection profitability, creating incremental value through resource solutions, driving general and administrative efficiencies, and strong capital discipline.”“The progress we have made on our strategies can be seen in the positive financial results in the fourth quarter,” Casella said. “Our disciplined solid waste pricing programs continued to add value, with landfill pricing up 3.6% and collection pricing up 3.7%.  This strong pricing was coupled with 2.0% solid waste volume growth, mainly driven by 4.8% growth in landfill volumes as we continued to source new volumes in the tightening northeastern disposal markets, and 1.2% solid waste revenue growth from acquisitions.”“As we first announced in early August 2017, we have adjusted our capital strategy to balance delevering with prudent acquisition or development investments,” Casella said.  “We have set a goal to grow revenues by $20.0 million to $40.0 million per year through acquisition or development activity for the next three years as part of this new strategy.  We are off to a great start with this strategy, with roughly $18.0 million of acquired revenues over the last two months.  During the fourth quarter we completed a small tuck-in hauling acquisition, and in early January 2018 we completed the acquisition of an integrated solid waste company in Western Massachusetts that provides us with a new market entrance and a strategic truck and rail served transfer station that will enable us to direct additional waste volumes to our landfills in New York and Pennsylvania.  Our acquisition pipeline remains robust, and we believe that investing a portion of our excess cash flows to grow our business will create additional shareholder returns through higher cash flow growth rates driven by new revenue streams, internalization to our disposal facilities and cost synergies.”For the fourth quarter, revenues were $151.2 million, up $7.4 million, or 5.2%, from the same period in 2016, with revenue growth mainly driven by robust collection and disposal pricing, strong solid waste volumes, the roll-over impact from acquisitions, and higher volumes in the customer solutions line-of-business, partially offset by lower recycling commodity pricing and volumes. Net income attributable to common stockholders was $20.0 million, or $0.46 per diluted common share, up $32.0 million for the fourth quarter, as compared to net loss attributable to common stockholders of $(12.0) million, or $(0.29) per diluted common share for the same period in 2016. Adjusted Net income Attributable to Common Stockholders was $4.6 million, or $0.11 of Adjusted Diluted Earnings Per Common Share*, for the fourth quarter, compared to Adjusted Net Income Attributable to Common Stockholders of $1.9 million, or $0.05 of Adjusted Diluted Earnings Per Common Share, for the same period in 2016.Operating income was $9.9 million for the fourth quarter, down $(0.1) million from the same period in 2016, whereas Adjusted Operating Income* was $10.3 million for the fourth quarter, down $(0.6) million from the same period in 2016.“During the fourth quarter, operating income was down approximately $2.0 million year-over-year in our recycling business,” Casella said.  “This decline was mainly driven by China’s National Sword program, which imposed strict new contamination standards for recycled commodities and significantly reduced global demand for paper and cardboard products.  This has led to mixed paper price declines of approximately 80% from July 2017 to January 2018, while at the same time our operating costs are up as we have slowed sorting lines and increased labor to produce higher quality end products.  Our mature risk mitigation programs, such as the Sustainability Recycling Adjustment fee, have worked well to offset the majority of commodity price declines during the quarter and we expect these programs to continue to significantly reduce our commodity risk exposure.”For the fiscal year, revenues were $599.3 million, up $34.3 million, or 6.1%, from fiscal year 2016, reflecting the impact of robust collection, disposal and recycling commodity pricing, higher volumes in the Company’s collection, disposal, and customer solutions lines-of-business, and the roll-over impact from acquisitions, partially offset by lower organics volumes.Net loss attributable to common stockholders was $(21.8) million, or $(0.52) per diluted common share, a decrease of $(15.0) million for the fiscal year, as compared to net loss attributable to common stockholders of $(6.8) million, or $(0.17) per diluted common share, for fiscal year 2016. Adjusted Net Income Attributable to Common Stockholders was $28.7 million, or $0.67 of Adjusted Diluted Earnings Per Common Share, for the fiscal year, compared to Adjusted Net Income Attributable to Common Stockholders of $7.8 million, or $0.19 of Adjusted Diluted Earnings Per Common Share, for fiscal year 2016.Operating loss was $(12.6) million for the fiscal year, down $(57.5) million from operating income of $44.9 million in fiscal year 2016, whereas Adjusted Operating Income was $52.8 million for the fiscal year, up $6.9 million from fiscal year 2016.2018 Outlook“Our fiscal year 2018 budget is on track with the fiscal year 2021 strategic plan that we first introduced in August 2017, and reflects continued execution of our key strategies with the goal of driving additional shareholder value,” Casella said. “We remain cautious about near-term headwinds from the recycling business, however we believe that our mature risk mitigation programs will continue to offset the vast majority of commodity price declines and current market conditions are contemplated in our fiscal year 2018 guidance.”The Company provided guidance for the next fiscal year ending December 31, 2018 by estimating results in the following ranges:Revenues between $618 million and $628 million (as compared to $599.3 million in fiscal year 2017);Adjusted EBITDA between $135 million and $139 million (as compared to $129.0 million in fiscal year 2017); andNormalized Free Cash Flow between $42 million and $46 million (as compared to $38.8 million in fiscal year 2017).The Company provided the following assumptions that are built into its outlook:Overall the Company expects revenue growth of between 4.6% and 6.3% in fiscal year 2018.  However, the Company expects that the adoption of the new revenue recognition standard to lower our revenues by approximately 1.5%.  Given this change, the Company expects revenue growth of between 3.1% and 4.8% in fiscal year 2018. In the solid waste business, revenue growth of between 6.0% and 7.5%, with price growth from 2.5% to 3.5%, volume growth from 0.5% to 1.0%, and 3.0% growth from acquisitions already completed.In the recycling business, overall revenue declines of between 15.0% and 20.0%, driven by lower commodity prices, lower volumes and changes in revenue recognition, partially offset by higher processing fees.In the Other segment, overall revenue growth of approximately 5.0%, with growth in the industrial segment for the Customer Solutions group and higher volumes in the Organics group.The budget includes the roll-over impact of acquisitions completed during fiscal year 2017 and in early fiscal year 2018, but does not include any acquisitions that have not yet been completed. Capital expenditures of approximately $65 million, and payments on operating leases of approximately $7.5 million.No material changes in the regional economy from the last 12 months.Adjusted EBITDA and Normalized Free Cash Flow related to the fiscal year ending December 31, 2018 are described in the Reconciliation of 2018 Outlook Non-GAAP Measures section of this press release.Conference call to discuss quarter and fiscal year resultsThe Company will host a conference call to discuss these results on Friday, March 2, 2018 at 10:00 a.m. Eastern Time. Individuals interested in participating in the call should dial (877) 838-4153 or for international participants (720) 545-0037 at least 10 minutes before start time. The call will also be webcast; to listen, participants should visit Casella Waste Systems’ website at http://ir.casella.com(link is external) and follow the appropriate link to the webcast.A replay of the call will be available on the Company’s website, or by calling (855) 859-2056 or (404) 537-3406 (Conference ID8368179) until 12:00 p.m. ET on March 9, 2018.About Casella Waste Systems, Inc.Casella Waste Systems, Inc., headquartered in Rutland, Vermont, provides solid waste management services consisting of collection, transfer, disposal, and recycling services in the northeastern United States. For further information, investors contact Ned Coletta, Chief Financial Officer at (802) 772-2239; media contact Joseph Fusco, Vice President at (802) 772-2247; or visit the Company’s website at http://www.casella.com(link is external).*Non-GAAP Financial MeasuresIn addition to disclosing financial results prepared in accordance with GAAP, the Company also discloses earnings before interest, taxes, and depreciation and amortization, adjusted for accretion, depletion of landfill operating lease obligations, the Southbridge Landfill closure charge, gains on asset sales, development project charge write-offs, contract settlement charges, legal settlement costs, tax settlement costs, bargain purchase gains, asset impairment charges, environmental remediation charges, severance and reorganization costs, expenses from divestiture, acquisition and financing costs, gains on the settlement of acquisition related contingent consideration, fiscal year-end transition costs, proxy contest costs, as well as impacts from divestiture transactions (“Adjusted EBITDA”), which is a non-GAAP financial measure.The Company also discloses earnings before interest and taxes, adjusted for the Southbridge Landfill closure charge, gains on asset sales, development project charge write-offs, contract settlement charges, legal settlement costs, tax settlement costs, bargain purchase gains, asset impairment charges, environmental remediation charges, severance and reorganization costs, expenses from divestiture, acquisition and financing costs, gains on the settlement of acquisition related contingent consideration, fiscal year-end transition costs, proxy contest costs, as well as impacts from divestiture transactions (“Adjusted Operating Income”), which is a non-GAAP financial measure.The Company also discloses net income (loss) attributable to common stockholders, adjusted for the U.S. tax reform impact, the Southbridge Landfill closure charge, gains on asset sales, development project charge write-offs, contract settlement charges, legal settlement costs, tax settlement costs, bargain purchase gains, asset impairment charges, environmental remediation charges, severance and reorganization costs, expenses from divestiture, acquisition and financing costs, gains on the settlement of acquisition related contingent consideration, fiscal year-end transition costs, proxy contest costs, impacts from divestiture transactions, losses on debt modifications, as well as impairment of investments (“Adjusted Net Income Attributable to Common Stockholders”), which is a non-GAAP financial measure.The Company also discloses Adjusted Diluted Earnings Per Common Share, which is Adjusted Net Income Attributable to Common Stockholders divided by Adjusted Diluted Weighted Average Shares Outstanding, which includes the dilutive effect of options and restricted / performance stock units.The Company also discloses net cash provided by operating activities, less capital expenditures (excluding acquisition related capital expenditures), less payments on landfill operating lease contracts, plus proceeds from divestiture transactions, plus proceeds from the sale of property and equipment, plus proceeds from property insurance settlement, plus (less) contributions from (distributions to) noncontrolling interest holders (“Free Cash Flow”), which is a non-GAAP financial measure.The Company also discloses Free Cash Flow plus certain cash outflows associated with landfill closure, site improvement and remediation expenditures, plus certain cash outflows associated with new contract and project capital expenditures, (less) plus cash (inflows) outflows associated with certain business dissolutions, plus cash interest outflows associated with the timing of refinancing transactions (“Normalized Free Cash Flow”), which is a non-GAAP financial measure.The Company also discloses net cash provided by operating activities, plus changes in assets and liabilities, net of effects of acquisitions and divestitures, gains on sale of property and equipment, environmental remediation charges, losses on debt extinguishment, stock based compensation expense, the Southbridge Landfill closure charge, interest expense, cash interest expense, provisions for income taxes, net of deferred taxes and adjustments as allowed by the Company’s credit facility agreement (“Consolidated EBITDA”) and total long-term debt and capital leases, less unencumbered cash and cash equivalents in excess of $2.0 million (“Consolidated Funded Debt, Net” and, divided by Consolidated EBITDA, the “Consolidated Net Leverage Ratio”).Adjusted EBITDA and Adjusted Operating Income are reconciled to net income (loss); while Adjusted Net Income Attributable to Common Stockholders is reconciled to net income (loss) attributable to common stockholders; Adjusted Diluted Earnings Per Common Share is reconciled to diluted earnings per common share; Free Cash Flow and Normalized Free Cash Flow are reconciled to net cash provided by operating activities; and Consolidated Funded Debt, Net is reconciled to total long-term debt and capital leases..The Company presents Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income Attributable to Common Stockholders, Adjusted Diluted Earnings Per Common Share, Free Cash Flow, Normalized Free Cash Flow Consolidated EBITDA, Consolidated Funded Debt, Net and the Consolidated Net Leverage Ratio because it considers them important supplemental measures of its performance and believes they are frequently used by securities analysts, investors and other interested parties in the evaluation of the Company’s results. Management uses these non-GAAP financial measures to further understand its “core operating performance.” The Company believes its “core operating performance” is helpful in understanding its ongoing performance in the ordinary course of operations. The Company believes that providing Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income Attributable to Common Stockholders, Adjusted Diluted Earnings Per Common Share, Free Cash Flow, Normalized Free Cash Flow, Consolidated EBITDA, Consolidated Funded Debt, Net and the Consolidated Net Leverage Ratio to investors, in addition to corresponding income statement and cash flow statement measures, affords investors the benefit of viewing its performance using the same financial metrics that the management team uses in making many key decisions and understanding how the core business and its results of operations has performed. The Company further believes that providing this information allows its investors greater transparency and a better understanding of its core financial performance.Non-GAAP financial measures are not in accordance with or an alternative for GAAP. Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income Attributable to Common Stockholders, Adjusted Diluted Earnings Per Common Share, Free Cash Flow, Normalized Free Cash Flow, Consolidated EBITDA, Consolidated Funded Debt, Net and the Consolidated Net Leverage Ratio should not be considered in isolation from or as a substitute for financial information presented in accordance with GAAP, and may be different from Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income Attributable to Common Stockholders, Adjusted Diluted Earnings Per Common Share, Free Cash Flow, Normalized Free Cash Flow, Consolidated EBITDA, Consolidated Funded Debt, Net and the Consolidated Net Leverage Ratio presented by other companies. 13,528 — 2017 — 10.5%Total revenues$151,223 (37,052) Southbridge Landfill closure charge316 2016Eastern region58.1% 381,973 $0.19 Environmental remediation charge (3)— $— $143,795 3,606 122,605 $0.05 Tax effect (i)206 Adjusted EBITDA$30,230 Other expense (income): Cash and cash equivalents, end of period$1,995 (7,219)Proceeds from the exercise of share based awards1,278 41,233 38,652 — 2016 1.1%Solid waste operations437,130 $(21,799) Other income(368) $(0.29) Three Months Ended December 31, 0.02 1.2% 14,848 51,309 13,747 $60,841 Cash Flows from Investing Activities: 150 (1)       The Company performed a test of recoverability under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 360, which indicated that the carrying value of the Company’s asset group that includes the Southbridge Landfill was no longer recoverable and, as a result, the asset group was assessed for impairment with an impairment charge allocated to the long-lived assets of Southbridge Landfill in accordance with FASB ASC 360. (15,253) — Net income (loss)20,021 $24,363 (4) The Company incurred legal and other transaction costs associated with various matters as part of the Southbridge Landfill closure. $565,030 21.5% 13,148 2,408 7.4% 19,908 176 2016 2017 % of RecyclingOperations Basic earnings per common share$0.48 2016 $120,602 — 41,422 (1.4)%Total Company$7,429 1.0%Processing36 100.0%Components of revenue growth for the three months ended December 31, 2017 compared to the three months ended December 31, 2016 are as follows: 0.02 2017 $(0.17) 2017 9,997 December 31,2017 (0.2)%Customer Solutions1,877 (2) The Company wrote-off deferred costs associated with Southbridge Landfill permitting activities no longer deemed viable. — 1.3% 361,547 LIABILITIES AND STOCKHOLDERS’ DEFICIT (3)The Company recorded an environmental remediation charge associated with the future installation of a municipal waterline. 65,183 (24,550)Total liabilities and stockholders’ deficit $— 44.2%Disposal160,073 84,380 78,588 (2,438) $614,949 88,569 (4,482) (9)Net income (loss) attributable to common stockholders$20,021 (8.3)% 10.6% 73.6% (2,839)Acquisition related additions to property, plant and equipment(469) $599,309 — 1,002 Fiscal Year EndedDecember 31, — (21,799) —% Dilutive effect of options and other stock awards— CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESSUPPLEMENTAL DATA TABLES(Unaudited)(In thousands)Amounts of total revenues attributable to services provided for the three and twelve months ended December 31, 2017 and 2016 are as follows: Other non-current assets 1,589 752 1.1%Solid waste operations112,194 520,085 — 97,565 CURRENT LIABILITIES: (16,765) 24,887 % ofRelatedBusiness — 0.8%Processing1,699 Net cash used in financing activities(31,640) Diluted earnings per common share$0.46 Cash income taxes, net of refunds$146 32,743 21.3%Depreciation and amortization(15,795) 7,696 13,747 62,102 477,576 Three Months EndedDecember 31, Other long-term liabilities CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESRECONCILIATION OF CERTAIN NON-GAAP MEASURES(Unaudited)(In thousands, except for per share data)Following is a reconciliation of Adjusted EBITDA and Adjusted Operating Income from Net income (loss): 9,295 $80,434 (ii)This includes cash outlays associated with the Southbridge Landfill closure charge. 5,921 Fiscal Year EndedDecember 31, 232 Cash and cash equivalents, beginning of period2,544 Fiscal Year EndedDecember 31, $— (0.4)%Volume(1,448) $38,798 43.5%Disposal41,739 9.8%Recycling13,101 Income (loss) before income taxes4,207 2017 3,393 7.4%Customer solutions60,057 Southbridge Landfill closure charge316 $65,183 CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)(In thousands)Note 1:  Southbridge Landfill Closure ChargeIn June 2017, the Company initiated its plan to cease operations of its Subtitle D landfill in Southbridge, Massachusetts (“Southbridge Landfill”). Accordingly, in the three months ended December 31, 2017 and the fiscal year ended December 31, 2017, the Company recorded charges associated with the closure of its Southbridge Landfill as follows: — Proceeds from long-term borrowings185,500 Environmental remediation charge— 2017 4,482 2016Net cash provided by operating activities$28,438 Fiscal Year EndedDecember 31, 0.01 13,747 (i)This includes a contract settlement charge associated with exiting a contract. 583 900 Net loss$(21,799) 52,911 Interest expense, net6,015 $45,845 398,466 2.4%Collection630 $0.67 1,182 (54,200)Payments on landfill operating lease contracts(3,509) Net cash used in investing activities(76,447) 65,953 Cost method investments 2016 9.6%Recycling62,307 $2,544 24,887 2016 24,469 65,183 1,347 8.1% 86,666 $631,512 — 72.6%Organics9,934 Operating income (loss)9,854 Normalized Free Cash Flow$4,419 Supplemental Disclosure of Cash Flow Information: 44.6% 16,432 44,997 $274 $5,373 $(11,974) 6,770 CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESRECONCILIATION OF 2018 OUTLOOK NON-GAAP MEASURES(Unaudited)(In thousands)Following is a reconciliation of the Company’s anticipated Adjusted EBITDA from anticipated Net income for the fiscal year ending December 31, 2018: 503,961 Fiscal Year EndedDecember 31, Accounts payable (i)This includes the interest payment required upon redemption of the senior subordinated notes. 74.4%Solid waste internalization66.5% Total current assets (7,249)Proceeds from sale of property and equipment711 2016 2.2% 62,102 Depreciation and amortization62,102 % of TotalRevenues $27,117 69,675 — — 33,697 21,821 — 6,770 — Total Replacement Capital Expenditures$20,262 Expense from divestiture, acquisition and financing costs176 13,011 $20,347 Interest accretion on landfill and environmental remediation liabilities4,482 $(0.17)U.S. tax reform impact(0.36) Environmental remediation charge— $(6,858)Net income (loss) margin13.2% (9,295)Interest accretion on landfill and environmental remediation liabilities(1,277) Three Months EndedDecember 31, 41,846 2017 (935) Accounts receivable – trade, net 11,567 (38)Additions to property, plant and equipment(64,393) (11,974) (i)The aggregate tax effect of the adjustments, including the impact of deferred tax adjustments. 119,899 Price(497) (1,090)Loss on debt extinguishment— Loss on debt extinguishment— Total stockholders’ deficit 61,856 44,945 517 $(21,799) 8,149 1.55 $2,544 $4,686 2016 42,134 Depreciation and amortization15,795 — 61,196 $(0.52) Changes in assets and liabilities, net of effects of acquisitions and divestitures(4,584) Cash and cash equivalents 918 39,161 $(6,858)Adjustments to reconcile net loss to net cash provided by operating activities: Goodwill 1.1% $36,616 79,243 38,652 3,155 Changes in assets and liabilities, net of effects of acquisitions and divestitures4,584 Total assets 41,422 Deferred income taxes(15,525) 13,011 2016Cash Flows from Operating Activities: Following is the Consolidated Net Leverage Ratio and the reconciliations of Consolidated Funded Debt, Net from long-term debt and capital leases and Consolidated EBITDA from Net cash provided by operating activities: Interest accretion on landfill and environmental remediation liabilities1,277 Fiscal Year EndedDecember 31, 54,478 — $249,640 41,233 100.0% 0.34 Adjusted EBITDA margin20.0% 64.3% — 2016Diluted earnings per common share$0.46 (ii)This includes cash outlays associated with the Southbridge Landfill closure charge. 73.7% (11,824) 56.2% Tax effect— $631,512 (918) — 2017 10.0% $52,776 $0.05 Adjusted Operating Income margin6.8% 1,143 Interest payment on redemption of the senior subordinated notes (i)— 2017 Following is a reconciliation of Adjusted Net Income Attributable to Common Stockholders from Net income (loss) attributable to common stockholders: (62,964)Cash Flows from Financing Activities: 53.8%Western region76.2% 2017 — 5.4%Organics(280) Non-current assets acquired through long-term obligations$3,564 6,282 (608,198)Payments of debt issuance costs(1,452) 141,369 711 (1,090)Other expense, net5,647 Legal and transaction costs (4)316 9,149 Loss on sale of property and equipment(49)Loss on debt extinguishment(517)Stock based compensation(6,432)Southbridge Landfill non-cash charge(63,526)Interest expense, less amortization of debt issuance costs and discount on long-term debt22,468 (574)Southbridge Landfill non-cash closure charge63,526 Other952 Expense from divestiture, acquisition and financing costs176 % of TotalCompanySolid Waste Operations: — Consolidated EBITDA$135,363 21,581 900 Southbridge Landfill closure charge0.01 900 10.4% 20.4% 65,183 — 6,379 Fiscal Year EndedDecember 31, 3.0% 2017 (12.9)% $1,937 $28,740 Three Months EndedDecember 31, Intangible assets, net $62,524 Twelve Months Ended December 31, 2017Net cash provided by operating activities$107,538 $42,712 133,798 73.6%Organics39,815 — 901 (i) The Company’s credit facility agreement requires it to maintain a maximum leverage ratio, to be measured at the end of each fiscal quarter (“Consolidated Net Leverage Ratio”). The Consolidated Net Leverage Ratio is calculated as consolidated long-term debt and capital leases, net of unencumbered cash and cash equivalents in excess of $2,000 (“Consolidated Funded Debt, Net”, calculated at $497,680 as of December 31, 2017, or $497,680 of consolidated funded debt less $0 of cash and cash equivalents in excess of $2.0 million as of December 31, 2017), divided by Consolidated EBITDA. Consolidated EBITDA is based on operating results for the twelve months preceding the measurement date of December 31, 2017. A reconciliation of Net cash provided by operating activities to Consolidated EBITDA is as follows: 42,553 43,028 Adjusted Net Income Attributable to Common Stockholders$4,630 1,362 Adjusted diluted weighted average common shares outstanding43,394 44.0% 0.1%Acquisitions, net divestitures1,299 1,449 (3.6)% Three Months EndedDecember 31, Facilities1,447 Supplemental Disclosure of Non-Cash Investing and Financing Activities: 100.0% 611,892 $143,795 900 Free Cash Flow$3,820 $614,949 (1.0)%Total Recycling(1,945) (0.39) 2017 80,434 2017 128 — 0.32 Environmental remediation charge— 1.3% Amount (3,606)Adjusted Operating Income$10,346 $129,006 — 2017 Environmental remediation charge— $(0.17)Diluted weighted average common shares outstanding43,394 1,656 Other income(368) 6.6% — 3.4% 8.8% (37,862) $15,683 $0.67 Current maturities of long-term debt and capital leases 2016Asset impairment charge (1)$— 900 12,333 Collection$2,322 Southbridge landfill closure charge316 0.02 Following is a reconciliation of Free Cash Flow and Normalized Free Cash Flow from Net cash provided by operating activities: Southbridge Landfill closure charge$316 2.0% 2017 $4,926 2016Net income (loss)$20,021 (64,393) — —%Solid Waste Volume2,065 27.2%Power generation1,254 0.9% 383 1,362 82,426 0.6% $64,393 494 9,295 (9,395)Net cash provided by operating activities107,538 9,646 — 104,417 Following is a reconciliation of Adjusted Diluted Earnings Per Common Share from Diluted earnings per common share: $16,765 Adjusted Diluted Earnings Per Common Share$0.11 % of TotalRevenuesCollection$263,688 150 41,422 $(6,849)Basic weighted average common shares outstanding42,033 61,856 405,188 General and administration20,855 — Replacement Capital Expenditures: Environmental remediation charge— (61,856)Depletion of landfill operating lease obligations(2,812) 15,425 Principal payments on long-term debt(216,966) Provision for income taxes, net of deferred taxes272 Adjustments as allowed by the senior secured credit agreement71,025 0.4%Disposal1,399 2,581 Interest expense, net6,015 Change in restricted cash— — Expense from divestiture, acquisition and financing costs176 — Revenues$151,223 — % of TotalRevenues (9.6)% 0.8%Processing— 2016Total Growth Capital Expenditures$901 (15,253) 1.6%Disposal1,177 27.6% — (7,240) Long-term debt and capital leases, less current maturities 7.6% $(0.52) Total Growth and Replacement Capital Expenditures$21,163 26.7% Project development charge (2)— 74.1% Three Months EndedDecember 31, 2,312 0.9%Total Solid Waste7,777 900 7.1%Customer solutions15,994 2017 % of SolidWasteOperations 176 (Anticipated)Fiscal Year Ending December 31, 2018Net cash provided by operating activities$109,000 – $113,000Capital expenditures(65,000)Payments on landfill operating lease contracts(7,500)Free Cash Flow$36,500 – $40,500Contract settlement charge (i)2,000Landfill closure, site improvement and remediation expenditures (ii)3,500Normalized Free Cash Flow$42,000 – $46,000 Fiscal Year EndedDecember 31, 2016 Adjusted diluted earnings per common share$0.11 — Three Months EndedDecember 31, 2016Net income (loss) attributable to common stockholders$20,021 3.7% 1,220 Loss on debt extinguishment— 9,204 (Anticipated)Fiscal Year Ending December 31, 2018Net income$28,000 – $32,000Interest expense, net25,500Depreciation and amortization65,000Depletion of landfill operating lease obligations11,000Interest accretion on landfill and environmental remediation liabilities5,500Adjusted EBITDA$135,000 – $139,000Following is a reconciliation of Free Cash Flow and Normalized Free Cash Flow from Net cash provided by operating activities: — $5,453 12,333 2016 27.3%Power generation5,375 72.9% 2017 1.0%Processing7,994 Operating expenses: (16,089) (394) Loss on debt extinguishment517 — 8,019 6.7% (935) $(11,974) $10,897 41,587 Expense from divestiture, acquisition and financing costs— Deferred income taxes Diluted weighted average common shares outstanding43,394 (8,146)Payments of debt extinguishment costs— $(11,974) $565,030 0.6% $1,082 2017 CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(In thousands) (7,249)Proceeds from sale of property and equipment54 $48,827 ASSETS — (17,238)Net (decrease) increase in cash and cash equivalents(549) 5.2%Solid Waste Internalization Rates by Region for the three and twelve months ended December 31, 2017 and 2016 are as follows: Depletion of landfill operating lease obligations9,646 % of TotalRevenuesCollection$67,502 —% 2,165 9,204 (15,425) Amortization of debt issuance costs and discount on long-term debt2,692 3,881 (6,364)(Benefit) provision for income taxes(15,814) $(6,849)U.S. tax reform impact(16,089) (6,858)Less: Net loss attributable to noncontrolling interests— 0.1% 1,131 900 (2,165) 8.7% $2,299 Depletion of landfill operating lease obligations2,812 Total current liabilities (12,583) (9,646) $— Other accrued liabilities 1.2% 1.4%Recycling Operations: 0.2% $47,999 (3.3)% Cash interest$25,029 1,068 10,215 2016 41,846 Other current assets Property, plant and equipment, net Fiscal Year EndedDecember 31, $0.19 41,233 December 31,2016CURRENT ASSETS: 100.0% 56.4% $12,223 63.4%Components of capital expenditures for the three and twelve months ended December 31, 2017 and 2016 are as follows (v): 0.8% 41,846 15,046 — $(21,799) Loss (gain) on sale of property and equipment49 2017 9.4%Total revenues$599,309 36,562 — 494 Three Months EndedDecember 31, 3,606 5,832 517 0.6%Commodity price & volume186 Landfill development7,536 Landfill closure, site improvement and remediation expenditures (ii)599 $29,405 29,666 47,081 2,182 $54,200 $(0.52) 154,211 CASELLA WASTE SYSTEMS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands) (v) The Company’s capital expenditures are broadly defined as pertaining to either growth, replacement or acquisition activities. Growth capital expenditures are defined as costs related to development of new airspace, permit expansions, and new recycling contracts along with incremental costs of equipment and infrastructure added to further such activities. Growth capital expenditures include the cost of equipment added directly as a result of organic business growth as well as expenditures associated with adding infrastructure to increase throughput at transfer stations and recycling facilities. Replacement capital expenditures are defined as landfill cell construction costs not related to expansion airspace, costs for normal permit renewals, and replacement costs for equipment due to age or obsolescence. Acquisition capital expenditures, which are not included in the table above, are defined as costs of equipment added directly as a result of new business growth related to an acquisition.Source: RUTLAND, Vt., March 01, 2018 (GLOBE NEWSWIRE) — Casella Waste Systems, Inc www.casella.com(link is external) (394) 14,117 293 Loss on debt extinguishment— Capital expenditures(21,163) 517 604,850 $(0.29) 176 — Cost of operations104,227 Depreciation and amortization15,795 2016 $107,538last_img read more

The leaders of the pack

first_imgWith just one round left to play in the AFL Outer East’s Premier Division home and away season, the Gazette…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription. By Nick Creely last_img

Man fined over abalone

first_imgA 49-YEAR-OLD Warragul man was fined $1000 without conviction in the Korumburra Magistrates’ Court last week (July 20) for taking…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.last_img

Workers with ability

first_imgBy BEN CAMERON OPEN your mind and think outside the square when it comes to the possibility of employing people…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.last_img

Moycullen V Athenry – IFC Final Reaction

first_imgAudio Playerhttps://s3-eu-west-1.amazonaws.com/gbfm.podcasts/Michael+Donnellan.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.Kevin also caught up with the winning Moycullen Captain Mark Lydon… TEAMS Audio Playerhttps://s3-eu-west-1.amazonaws.com/gbfm.podcasts/Mark+Lydon.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.The full story of the game is as follows:FIRST HALF2min – Dessie Connolly opens the scoring on the first attack for Moycullen 0-1 to 0-04min- The young Moycullen full forward Dessie Connolly adds his 2nd 0-2 to 0-06min – Bright start for Moycullen who are running the show early, Peter Cooke adding a fine solo effort. 0-3 to 0-07min – Brian Faherty contiues the Moycullen flow Athenry yet to have a shot 0-4 to 0-010min – Phillip Lydon taps over a free that was won by Sean Kelly 0-5 to 0-013min – Cathal Fahy with a tap over free for a touch on the ground by the Moycullen defender and Athenry are off the mark 0-5 to 0-1.15min – Yelllow card for Moycullen full back Matt Donoghue.15min – Cathal Fahy with another straightforward free and Athenry are more in the game after a slow start 0-5 to 0-223min – the quality of the game has taken a lull slightly. Athenry getting much more in the Moycullen faces but Dessie Connolly who has started well wins a free and Phillip Lydon converts. 0-6 to 0-230min – Dessie Connolly very dangerous inside and adds his 3rd point of the day with a fisted effort, Moycullen lead by 5 in first half injury time 0-7 to 0-2HALF TIMESECOND HALF31min – beautifully struck free from Peter Cooke that he won himself and the perfect start to the 2nd half for Moycullen.34min – GOAL Conor Bohan not happy to take a point bursts through the defence and a nice finish to the left of the goalkeeper. Huge task for Athenry now36min – 2 points in a minute for Athenry, Conor Fahy with a 40meter free and Tom Flynn from play from distance they need to keep that rate up to get back into it.39min – Conor Fahy with his fourth free of the day and that cancels out the goal now for Moycullen, 3 unanswered points.46min – deliberate trip by Athenry’s John Grealish but no black card, just yellow, another case of “why bother?” with that particular rule.49min – The first score in 10mins and its Cathal Fahy the man last to score who gets his first from play and 5th of the day. 1-8 to 0-6.52min – Cathal Fahy’s long range free carries all the way over the bar and we are back to a 4 point game and no score for Moycullen since that goal. 1-8 to 0-7.53min – David Wynn with a left footed free for Moycullen goes straight over to give them a badly needed score their first in 20mins. They lead by 5 with 5min remaining56min – Athenry wing back Mark Healy with the point of the day and a brave fight by Athenry who may need a goal at this stage.59min – 3mins additional time announced as referee James Molloy allows a heavy shoulder to the head on Conor Bohan go unpenalised in the ‘D’60+1min – Peter Cooke finishes off a patient Moycullen move and that will probably be enough.60+2min – Goal chance for Ryan Shaughnessy saved well by Seamus Friel60+3min – Cathal Fahy’s goal shot goes over and back to 4 but no time left for a gallant AthenryFULL TIME – 1-10 to 0-9. A good effort from Athenry in the 2nd half but Moycullen despite a shaky period in the 2nd half win by 4 points and make up for last years final defeat against Killannin. Peter Cooke is named the GBFM man of the match after a good display in midfield and 4 points to his name Maigh Cuilinn regained their senior status after a 1-10 to 0-9 win over Athenry in the Intermediate Football Championship Final on Sunday in Pearse Stadium. The winners led 0-7 to 0-2 at half time and were 9 points clear just 4 minutes into the second half when Conor Bohan rattled the net to leave his side 1-8 to 0-2 ahead but a strong comeback from Athenry led to an exciting finale before Moycullen were eventually crowned Intermediate champions for the first time since 2007. After the game Kevin O’Dwyer spoke to the winning manager Michael Donnellan… print WhatsApp Facebook Twitter Emaillast_img read more

UIW Rallies in Final Seconds to Defeat Nebraska, 74-73

first_imgFreshman Jontrell Walker got the comeback started with a three-pointer to answer Petteway, but they still trailed 71-66 with 33 second left after a free throw by David Rivers.  Traylin Farris cut it to three points with a lay-up and then Shawn Johnson (Gretna, LA/Alief Hastings HS) stole a pass and was fouled attempting a 3-pointer.  He made 2-of-3 to cut the lead to one point.  UIW quickly fouled the Cornhuskers (5-3) and Shavon Shields knocked down a pair of free throws with 16 seconds left. In a game that could have gone either way, the ball bounced the way of the Cardinals (6-1) a few times in the last moments of the game.  UIW was down 67-60 after a Terran Petteway 3-pointer with 2:32 remaining in the game, but never gave up.  “Our guys really hung in there together especially after Denzel (Livingston) fouled out,” said UIW head coach Ken Burmeister.  “It is a great win for UIW, Dr. Agnese and the city of San Antonio.” UIW 74, Nebraska 73LINCOLN, Neb. – Kyle Hittle’s baseline jumper with 3.2 seconds quieted the 10,586 fans at Pinnacle Bank Arena and  capped off a huge upset victory over Nebraska on Wednesday night, 74-73. On the ensuing possession, Johnson was once again fouled on a three-point attempt.  He made the first free throw, missed the second and knocked down the third to make it 73-72 Nebraska with 6.7 seconds left.  The Huskers could not get the ball in bounds and threw it away without anyone touching the ball.  Hittle got the ball off the in-bounds play for UIW, took a dribble to the baseline, rose up and knocked down a tough 13-footer with 3.2 seconds to play.  Petteway’s desperation three-pointer was off the mark for Nebraska. This was the second of seven consecutive games on the road for UIW.  The Cardinals are now off for a week before heading to Grand Canyon University next Wednesday for a 7 p.m. game.center_img The Cardinals shot 48.1 percent from the field, made 8-of-24 from three-point range and were 16-of-22 at the foul line.  Walker led the team with 19 points on 8-of-16 shooting.  Hittle finished with 18 points on 5-of-7 shooting from the field and Johnson added 13 points.  Denzel Livingston added 12 points, six rebounds and five steals before fouling out in the final minute.  Farris came off the bench to score 12 points in just 16 minutes.  Those five players scored every pointfor the Cardinals. The Huskers, an NCAA tournament team in 2013-14, shot 42.3 percent from the field, made 5-of-17 from three-point range and were 24-of-32 at the charity stripe.  Shields had 19 points, nine rebounds and was a perfect 9-for-9 at the foul line.  Petteway added 18 points, eight rebounds, five assists and three steals.  Nebraska had 10 more rebounds than the Cardinals, but also committed two more turnovers. The win was the first ever for the Cardinals against a power conference school.  Even though they started the game slowly falling behind 8-0, they led by one point at the half.  There were a total of five ties and three lead changes in the game.  The Huskers led by 10 points with 12:59 remaining in the game.last_img read more

Teacher laptops to enhance education

first_imgZandile Tanoatsoala, a grade 4 teacher atLotus Gardens Primary School, is alreadyusing a laptop in her classes. Deputy minister Enver Surty and ELRC’sDhana Govender. Government is hoping all teachers will uselaptops. (Images: Bongani Nkosi)MEDIA CONTACTS• Hope MokgatlheMedia Liaison OfficerBasic Education Department+27 12 312 5538 or +27 71 680 6849RELATED ARTICLES• Education focus of Mandela Day 2010• Poor schools score textbooks• SA colleges get $6.7m boost• Ubuntu software for schoolsBongani NkosiSouth Africa’s public schools are moving into a new era of advanced technology, thanks to the new Teacher Laptop Initiative that’s rolling out across the country, allowing teachers to introduce laptops into their classrooms.A partnership between the Department of Basic Education and the private sector, the project is supervised by the Education Labour Relations Council (ELRC).Top-of-the-range Pentium-4 machines, each one internet-ready and with national curriculum lessons and other relevant software installed, will be distributed to schools from 19 JulyGovernment believes the introduction of ICT into all its primary and secondary schools will improve the quality of pupils’ education. Teacher unions are unanimously supporting the initiative, and are hoping it will enhance their members’ teaching skills.“This is a powerful instrument that will help us transform our public education system,” said Dhaya Govender, general secretary of ELRC.The project was launched on 15 July at the Lotus Gardens Primary School in Pretoria West, where teachers are already using the laptops.  ELRC has 18 months to ensure that it’s fully rolled out.Technology in the classroomThere are over 360 000 teachers plying their trade in South Africa’s public schools, and the plan is to give all of them a laptop. “We will ensure that every teacher owns and is able to use a computer,” said Enver Surty, deputy minister of Basic Education.About 125 000 teachers have already received computer training, Surty said, adding that the department is also progressing with the registration of learners into a national database. Some 80% are already in the system.The 12 suppliers to the project, all prominent computer dealers and ISPs, are offering training sessions in the schools. Local companies involved include mobile providers Cell C, Vodacom and MTN, hardware suppliers Lenovo and Sahara Systems, and telecommunications company Telkom, among others.“Our technicians and engineers provide training for teachers, showing them how to use the [installed] applications,” said Dayalan Pillay, a business manager at ICT training company Gijima Ast, also a supplier.Teachers have participated actively in the training sessions, government noted.The Skool websitepA website due to be launched shortly, www.skool.co.za, will become a nerve centre of the initiative and will contain all modules of the school curriculum.“Teachers can set tests using the website. All resources are readily available for the teacher,” Pillay said.Improving communicationGovernment is spending about US$317-million (R2.8-billion) to subsidise the laptops, as well as projectors for classrooms. Teachers will pay a monthly minimum fee for the computers, which will then become their property.Unions see the initiative as a viable platform to improve communication in the teaching sector.“There have been challenges in communicating vital information to the teachers,” said Thobile Ntola, president of the South African Democratic Teachers Union. “The laptops will play a role in bridging this gap.”“We must all rejoice when teachers can use e-mail to communicate with colleagues, exchange ideas, debate and discuss, and be exposed to the world of knowledge using powerful search engines like Google,” said Ezrah Ramasehla, president of the National Association of Professional Teachers of South Africa.last_img read more

Slack Is Releasing Botkit To Make Bots Easier To Build

first_imgWhy Your Company’s Tech Transformation Starts W… How AI is Learning to Play with Words owen thomas These Mistakes Can Derail a Legacy Software Con… Related Posts center_img Tags:#api#April Underwood#Atlassian#Ben Brown#Dylan Field#Figma#Hipchat#HipChat Connect#Howdy#Howdy.ai#messaging apps#Slack#Slack Platform#Slack Technologies#Stewart Butterfield#Team Collaboration Slack, the increasingly popular team-messaging software, wants more developers to build apps that hook into its work-chat software.So it’s announcing new software, Botkit, to simplify the building of such apps; a directory to make it easier to find them; and an investment fund to back developers, particularly ones building apps solely for Slack. (Slack executives are expected to make the announcements at an event in San Francisco Tuesday evening.) See also: For Slack’s App Builders, The Message Is The PlatformSlack is also planning to reveal that it now has 2 million daily active users. While not all of those pay for the service, that represents a healthy audience for app developers, particularly ones that must identify groups of people working together as teams.In other words, Slack is putting together all the pieces needed for a successful platform: distribution, exposure, and tools.The Botkit And Kaboodle Slack “worked closely” on Botkit with Howdy, a startup focused on building chat-based Slack apps, according to April Underwood, Slack’s head of platform. Slack and Howdy are releasing Botkit under an open-source license.“I want every [business-to-business] and enterprise developer to have a bot, and I want that bot to be in Slack,” said Underwood in an interview Tuesday morning.Bots aren’t the only way Slack works with other apps, but they’re perhaps the most intriguing new interface Slack presents. Messaging apps in Asia have shown that users are willing to get updates and even chat with business accounts run by software. With Slack, the notion is that a user who’s chatting with colleagues can easily switch to chatting with a bot without the mental overhead of context switching.Building a bot may sound easy—we’ve been building chat bots since the 1960s, if you remember Eliza, as I do, from the days when you would type in Basic programs from printed computer books.Howdy CEO Ben Brown says it’s harder than it sounds. Coding a bot to send a user a direct message in Slack, for example, requires accessing three different APIs. And simply listening to users requires a bot to constantly monitor Slack channels and parse messages for relevance. Botkit lets developers skip that work and get down to more interesting features—what Brown calls the “functionality and personality” of bots.Brown is also hoping to set standards or “design patterns” for bots. Think of Botkit as baking in some basic etiquette for bots built on top of it. Among other idea, Brown thinks all bots should be able to exchange pleasantries like saying hello, and identify who created them and where their software is running.Underwood says that developers are already building bot-based apps for functions like expense reporting and employee feedback collection.A Platform Which Needs A Few More PlanksThis is pretty much what Slack CEO Stewart Butterfield hinted at two months ago when he said the company’s goal was to make other business apps better, not compete with them.Obviously Slack’s just getting started here. But there are a few more things Slack could be doing to jump-start development on its platform.IdentityOne example of a developer who’s gone all-in with Slack is Figma, a collaborative design app. Figma CEO Dylan Field chose Slack as Figma’s primary sign-in option. It’s easy to see why: Slack accounts usefully define the scope of a specific business team in a way that email-based options like Google Apps or Microsoft’s Azure Active Directory don’t.Underwood said that she primarily expected “Slack-first” developers to use Slack’s login service. For those developers, whose apps live as bots within Slack, it doesn’t make sense to have separate logins. But it will be interesting to see if more developers follow Figma’s example and use Slack login, not because it’s their only option, but because they see it as their best one.PaymentsSlack doesn’t make money directly from developers or apps today. But it does benefit from them. Slack strictly limits the number of “integrations,” or add-on apps, that its free users can use. So there’s a pretty direct link between how Slack makes money from paid subscribers and how many developers are building on top of Slack.Slack has a credit card on file for most if not all of its paid users. Just as with Apple’s App Store and Google Play, it’s intriguing to think what might happen if Slack started letting users buy apps instead of just install them.Slack As A ServiceWhile Botkit simplifies the building of chat bots, it doesn’t actually run the bot for developers. They still have to find a home for it, like Amazon Web Services or Heroku. Slack, whose infrastructure is finely tuned for messaging services, could offer up a version of its own infrastructure for developers. In particular, Slack might share its technologies for signaling, presence detection, and notification delivery.Chatting Up The CompetitionSlack isn’t the only player in the chat wars. Atlassian, which recently went public and is now trading at $5.5 billion, has a team-messaging service named HipChat, which is integrated into its other tools like Jira, a bug-tracking service, and its (mostly awful) wiki software, Confluence. In November, Atlassian released HipChat Connect, an API which allows developers to build more visual apps with distinctive interfaces within HipChat. As Fast Company recently pointed out, Slack and HipChat often end up courting the same developers. But overall, I suspect Slack has the better approach here, by emphasizing the primacy of the message as the universal software interface. (Indeed, Slack might be well-served by deemphasizing its geeky “slash” commands, a legacy of older chat tools that inspired Slack, in favor of chat.)It’s going to be an interesting battle for the hearts, minds, and code of developers. I imagine we’ll have a lot to chat about for a long time to come. Leveraging Big Data that Data Websites Should T…last_img read more

Lukaku: ‘Very important penalty’

first_imgRomelu Lukaku admits his stoppage-time winner was “a very important penalty” for Inter to get the points in Bologna. The Belgian had already tapped in the equaliser after a deflected Roberto Soriano opener. “This was a very important penalty, as we simply had to win today,” Lukaku told Sky Sport Italia after the 2-1 victory. “Bologna played with a lot of intensity and impressed me today, but we had a good team mentality and I’m happy. “I’m pleased to have had such a good start, but I am 26 years old and I need to grow every day, along with the whole team.” Inter have at least temporarily gone top of the table, awaiting Juventus against Torino in the Derby della Mole tonight. “I am not interested in Juve’s results. What’s important to me is that Inter win. We won today and that’s what matters.” Watch Serie A live in the UK on Premier Sports for just £11.99 per month including live LaLiga, Eredivisie, Scottish Cup Football and more. Visit: https://subscribe.premiersports.tv/last_img read more