Western Digital Jumps 5% on Increased FYQ2 Revenue, Profit View

Shares of disk-drive and NAND flash chip maker Western Digital  (WDC) are surging in late trading as the company raises its fiscal Q2 outlook for three months ended in December. In a news release accompanying the company’s analyst day meeting, Western raised its revenue view to $4.75 billion from a prior $4.7 billion, and also raised its gross profit outlook and lowered its estimate for its tax rate: Enabled by continued strong acceptance from customers and favorable mix of its broad product portfolio, solid execution in a favorable market environment, and including the contribution of incremental intellectual property revenue from the new cross license agreement with Samsung Ltd. that was separately announced today, the company expects its second quarter revenue to be approximately $4.75 billion compared to its earlier forecast of approximately flat with first quarter revenue of $4.7 billion. Non-GAAP gross margin is expected to be approximately 36%, versus the earlier forecast of approximately 35%. Non-GAAP operating expenses and net interest expense are expected to be approximately $805 million and $205 million respectively, unchanged from the original forecasts. Non-GAAP tax rate is estimated to be approximately 13%, versus the 14% to 16% range forecasted previously. As a result, the company has increased its forecasted second quarter non-GAAP EPS range to $2.10 to $2.15 from its earlier forecast range of $1.85 to $1.95.

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Imagine Canada

Imagine Canada is a national charitable organization whose cause is Canada’s charities and nonprofits. We support and strengthen charities and nonprofits so they can, in turn, support the Canadians and communities they serve. Charities, Nonprofits, Research, Volunteerism, Governance, Sector Accountabilty, Public Policy, Foundations, Corporate Community Investment, Financial Accountability & Transparency, Ethical Fundraising, Capacity Building, Sector Resources, Philanthropy.

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Nonprofit Management

5 Videos That Show Creative Ways to Market Your Nonprofit

Article | July 28, 2022

Video marketing increases brand engagement, reflects your nonprofit brand personality, and informs the public about your impact. The key is to approach your video marketing strategy in a creative way so you can stand out from the crowd. The following five videos are creative examples from which you can draw inspiration, from capturing your audience’s attention to building strong storylines that deliver information in innovative ways. In each example, we’ll dissect some best practices and learnings you can take away in order to level up your own videos.

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Nonprofit Management

Non-Profits Impacting the Economy

Article | July 15, 2022

While it's obvious how non-profits directly improve people's lives, their positive contributions to the US economy are frequently overlooked. A closer examination reveals that non-profit organizations have a large and far-reaching impact on the American economy. Non-profits, in fact, improve and strengthen local, state, and national economies in a variety of ways, including the following: The more than $826 billion spent on salaries, benefits, and payroll taxes by non-profits each year accounts for a sizable portion of their nearly $2 trillion annual budget. Non-profit employees also pay taxes on their salaries, as well as sales taxes and property taxes on what they own. Non-profits that provide care for children or elderly parents allow family members who would otherwise be responsible for providing care to work outside the home. Non-profit organizations also offer job training and placement services to people who would otherwise be unemployed or underemployed. Non-profits spend nearly $1 trillion on goods and services each year, ranging from large expenses like medical equipment for non-profit hospitals to small purchases like office supplies, food, utilities, and rent. Non-profits have an even greater impact because they generate economic activity and jobs that spread throughout the community. Consider arts programming as one example. By attending a play at a local non-profit community theater, you likely helped local businesses as well as the cast, crew, and administrative staff. Have you paid for parking? Did you purchase the appropriate earrings, shoes, or tie for the occasion? Did you eat before the show or meet up with friends afterwards? If this is the case, you have increased the economic impact of that theater by helping to create more jobs in the local economy while also increasing tax revenue for the local government. Have you ever noticed how local non-profits are frequently mentioned in brochures for local chambers of commerce as a top reason for businesses to locate there? Many cities are proud of their beloved cultural amenities, such as non-profit museums and performing arts centres. Non-profit colleges, which demonstrate the value of an educated workforce, and non-profit healthcare facilities, which reinforce a commitment to well-being, are also common features. While these local icons are rarely labelled as "non-profits" in brochures, business leaders intuitively recognize the enormous value that local non-profits contribute to the community's quality of life.

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Nonprofit Management

5 Easy Ways to Boost Your Nonprofit's Online Presence

Article | July 29, 2022

Marketing is often the last thing most organizations think about when starting off. It makes sense that the most important things to do are develop a business plan, determine your service/product offering, get all your legal and financial ducks in a row, and find a way to go-to-market. However, for non-profit and for-purpose organizations just getting off the ground, one of the most important things to establish is your online image. Things that can be extremely influential in how quickly and effectively you can gain traction digitally are branding, social presence, and content curation.

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Holding the Line: Compliance for Nonprofits

Article | April 26, 2020

When those in the nonprofit sector consider “compliance” the first thing that often comes to mind, and rightly so, is maintaining nonprofit status with the Internal Revenue Service. That makes sense, because failure to properly maintain nonprofit status has significant implications on taxes and can negatively impact fundraising. But compliance for nonprofits shouldn’t stop there. A comprehensive, documented compliance program, that includes privacy, security, marketing, donor and grantee diligence, and vendor management, for example, can go a long way to protecting the organization, its donors, and its constituents.

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Spotlight

Imagine Canada

Imagine Canada is a national charitable organization whose cause is Canada’s charities and nonprofits. We support and strengthen charities and nonprofits so they can, in turn, support the Canadians and communities they serve. Charities, Nonprofits, Research, Volunteerism, Governance, Sector Accountabilty, Public Policy, Foundations, Corporate Community Investment, Financial Accountability & Transparency, Ethical Fundraising, Capacity Building, Sector Resources, Philanthropy.

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Apple iPhone revenue slump results into CEO Tim Cook 15% salary-cut

Apple | January 07, 2017

Apple iPhone sales took a slump, which led to the company not meeting its revenue and profit target for the year 2016. The sales dip has made the Cupertino giant cut its CEO Tim Cook’s pay for year. Cook received $8.75 million (roughly Rs 57.88 crore) in total compensation for 2016, which was $10.28 million in 2015. Earlier, the $10.28 million (roughly) Rs 68.52 crore) pay was declined by the company when Cook assumed office in 2011. However the base salary of CEO rose 50 per cent, up to $3 million. “According to a regulatory filing on Friday, Apple said its annual sales of $215.6 billion were 3.7 per cent below its target of $223.6 billion, and its operating income of $60 billion was 0.5 per cent short of the $60.3 billion target,” The Wall Street Journal reported. Not only Cook, but Apple’s five-most senior executives also observed their total compensation going down for fiscal year 2016, each declining around nine per cent to about $22.8 million from $25 million in the previous year. The fall in revenues has been observed for the first time since 2001. Also this is for the first time when iPhone sales took a dip, ever since the first iPhone device was introduced in 2007.

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UPDATE 1-Vertex issues revenue outlook for cystic fibrosis treatments

Vertex | January 08, 2017

Vertex Pharmaceuticals Inc said on Sunday that it expected full-year 2017 revenue from its Orkambi cystic fibrosis treatment of $1.1 billion to $1.3 billion and revenue from its Kalydeco treatment of $690 million to $710 million. The company provided the outlook in a news release ahead of a presentation on Monday at the annual JPMorgan healthcare conference in San Francisco. The outlook for Orkambi appeared to be below expectations of brokerage firm analysts but closer to levels anticipated by institutional investors, Evercore ISI analyst John Scotti said in a research note after the announcement. The company said it expected later this month to report fourth-quarter Orkambi revenue of about $276 million. If that sales rate continues, the company will achieve at least the low end of its 2017 forecast, analysts at RBC Capital Markets said in a note.

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OCS Group targets Rs 1,000 crore revenue by financial year 2020

OCS | January 08, 2017

Facility management services firm OCS Group (India) expects its revenue to more than double to Rs 1,000 crore in the next three years. "The Bombay High Court has sanctioned the composite scheme of amalgamation and arrangement between Absotherm Facility Management and Cannon Hygiene (India) and OCS Group (India) to facilitate the formation of a single unified Indian entity of the global major OCS Group in facilities management.

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Apple iPhone revenue slump results into CEO Tim Cook 15% salary-cut

Apple | January 07, 2017

Apple iPhone sales took a slump, which led to the company not meeting its revenue and profit target for the year 2016. The sales dip has made the Cupertino giant cut its CEO Tim Cook’s pay for year. Cook received $8.75 million (roughly Rs 57.88 crore) in total compensation for 2016, which was $10.28 million in 2015. Earlier, the $10.28 million (roughly) Rs 68.52 crore) pay was declined by the company when Cook assumed office in 2011. However the base salary of CEO rose 50 per cent, up to $3 million. “According to a regulatory filing on Friday, Apple said its annual sales of $215.6 billion were 3.7 per cent below its target of $223.6 billion, and its operating income of $60 billion was 0.5 per cent short of the $60.3 billion target,” The Wall Street Journal reported. Not only Cook, but Apple’s five-most senior executives also observed their total compensation going down for fiscal year 2016, each declining around nine per cent to about $22.8 million from $25 million in the previous year. The fall in revenues has been observed for the first time since 2001. Also this is for the first time when iPhone sales took a dip, ever since the first iPhone device was introduced in 2007.

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UPDATE 1-Vertex issues revenue outlook for cystic fibrosis treatments

Vertex | January 08, 2017

Vertex Pharmaceuticals Inc said on Sunday that it expected full-year 2017 revenue from its Orkambi cystic fibrosis treatment of $1.1 billion to $1.3 billion and revenue from its Kalydeco treatment of $690 million to $710 million. The company provided the outlook in a news release ahead of a presentation on Monday at the annual JPMorgan healthcare conference in San Francisco. The outlook for Orkambi appeared to be below expectations of brokerage firm analysts but closer to levels anticipated by institutional investors, Evercore ISI analyst John Scotti said in a research note after the announcement. The company said it expected later this month to report fourth-quarter Orkambi revenue of about $276 million. If that sales rate continues, the company will achieve at least the low end of its 2017 forecast, analysts at RBC Capital Markets said in a note.

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OCS Group targets Rs 1,000 crore revenue by financial year 2020

OCS | January 08, 2017

Facility management services firm OCS Group (India) expects its revenue to more than double to Rs 1,000 crore in the next three years. "The Bombay High Court has sanctioned the composite scheme of amalgamation and arrangement between Absotherm Facility Management and Cannon Hygiene (India) and OCS Group (India) to facilitate the formation of a single unified Indian entity of the global major OCS Group in facilities management.

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