TechTarget’s SearchITChannel.com Announces Call for Nominations of Top Projects of 2021 Awards

TechTarget’s SearchITChannel.com Announces Call for Nominations of Top Projects of 2021 Awards

NEWTON, Mass.–(BUSINESS WIRE)–
The editors of TechTarget Inc.’s SearchITChannel.com™ have officially announced the opening of submissions for the SearchITChannelTop Projects of 2021 Awards. The winners will be selected from the projects submitted by VARs, MSPs, systems integrators and other solution provider organizations; by IT vendors on behalf of their channel partners; and by end-user organizations on behalf of their IT services providers. The deadline for submissions is February 4, 2022. Winning projects will be announced on March 22, 2022.

An independent team of judges consisting of industry experts as well as editors from SearchITChannel.com will review and evaluate the nominated projects according to technical innovation, challenges overcome, partnering creativity and business benefits. Winners and runners up will be selected for three business size categories, based on the solution provider organization’s annual revenue:

  • Small business: up to $10 million
  • Mid-sized business: $10 million to $1 billion
  • Large enterprise: more than $1 billion

The full criteria and nomination form for the Top Projects of 2021 Awards can be found by clicking here. Multiple projects may be nominated by a single organization by completing a separate nomination form for each project.

The winning projects will be announced on SearchITChannel.com and its sister site SearchCIO.com™, which together generate more than 650,000 views per month. Coverage of the winners, which will include an in-depth case study and announcements on both sites and in their members-only newsletters, will be visible to thousands of TechTarget members across its network of 140 websites globally.

About SearchITChannel.com

SearchITChannel.com is an online destination for business and technology professionals in the IT services and solutions industry. Our coverage encompasses managed service providers (MSPs), managed security service providers, cloud consultancies, professional services firms, systems integrators and resellers. SearchITChannel content, which attracts more than 200,000 unique visitors per month, includes original editorial features, news and expert advice from MSPs covering both technology and business topics designed to help organizations increase efficiency, profit and growth. More information can be found at searchitchannel.com.

About SearchCIO.com

SearchCIO.com provides technology management strategies designed exclusively for the enterprise CIO. Our award-winning team of editors and industry luminaries offer strategic advice and technology best practices to help streamline global IT operations. Our writers and editors aim to provide strategic guidance to chief information officers (CIOs) and the growing ranks of other executive-level technology decision makers. The site makes three editorial assumptions about our primary reader. First, the CIO role has changed dramatically with the near-universal adoption of digital technologies. Second, as the enterprise’s top technology experts, today’s CIOs have an unprecedented opportunity to drive business strategy and generate digital revenue. Finally, CIOs and business executives need expert information and forward-looking reporting to form a unified and cogent strategy for success. Our aim is to provide prescient and targeted advice on the technologies and strategies that drive business value in the rapidly changing digital business environment. More information can be found at searchcio.com.

About TechTarget

TechTarget (Nasdaq: TTGT) is the global leader in purchase intent-driven marketing and sales services that deliver business impact for enterprise technology companies. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies’ information technology needs. By understanding these buyers’ content consumption behaviors, TechTarget creates the purchase intent insights that fuel efficient and effective marketing and sales activities for clients around the world.

TechTarget has offices in Boston, London, Munich, New York, Paris, San Francisco, Singapore and Sydney. For more information, visit techtarget.com and follow us on Twitter @TechTarget.

(C) 2021 TechTarget, Inc. All rights reserved. TechTarget and the TechTarget logo are registered trademarks, and Search ITChannel.com and SearchCIO.com are trademarks of TechTarget. All other trademarks are the property of their respective owners.

Garrett Mann

Senior Director of Corporate Communications

TechTarget

617-431-9371

[email protected]

KEYWORDS: Massachusetts United States North America

INDUSTRY KEYWORDS: Software Networks Professional Services Internet Blogging Data Management Technology Security Publishing Marketing Advertising Communications Consulting

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Tech Data Capital and Cohesity Deliver Smart Payment Solutions

Through Tech Data Capital, Cohesity end-customers have access to smart, tailored financing options

PR Newswire

FREMONT, Calif. and CLEARWATER, Fla., Oct. 19, 2021 /PRNewswire/ — Tech Data Capital has partnered with Cohesity, a leader in next-gen data management, to offer Cohesity customers smart payment options that enable growth.  Tech Data Capital is a wholly owned subsidiary of Tech Data Corporation, and a part of the TD SYNNEX family, a leading global distributor and solutions aggregator for the IT ecosystem.

“We are proud to partner with Cohesity to bring best in class financing tools, programs and solutions to the channel,” said Wayne Peters, vice president of Financial Solutions, TD SYNNEX.

“By leveraging Tech Data Capital financing, our customers will be provided with additional flexibility to help consume Cohesity’s software based on their individual needs.  We believe this type of program can further support the modernization of software buying; where customers are deploying software either on prem or in the cloud and may have different budget and payment requirements,” said Robert O’Donovan, CFO at Cohesity.       

The benefits to Cohesity customers include:

  • Financing can be used to spread the payments over time, allowing the customer to avoid a large upfront expenditure and stay within budget
  • Not having to reduce the quote due to cost. The customer stays within budget without sacrificing important components of the solution.

Tech Data Capital can help determine the right financing option based on each customer’s need.
To learn more about Tech Data Capital, email [email protected] or call 800-307-4588.

About TD SYNNEX

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the IT ecosystem. We’re an innovative partner helping more than 150,000 customers in 100+ countries to maximize the value of technology investments, demonstrate business outcomes and unlock growth opportunities. Headquartered in Clearwater, Florida, and Fremont, California, TD SYNNEX’ 22,000 co-workers are dedicated to uniting compelling IT products, services and solutions from 1,500+ best-in-class technology vendors. Our edge-to-cloud portfolio is anchored in some of the highest-growth technology segments including cloud, cybersecurity, big data/analytics, IoT, mobility and everything as a service. TD SYNNEX is committed to serving customers and communities, and we believe we can have a positive impact on our people and our planet, intentionally acting as a respected corporate citizen. We aspire to be a diverse and inclusive employer of choice for talent across the IT ecosystem. For more information, visit www.TDSYNNEX.com or follow us on TwitterLinkedInFacebook and Instagram.

Safe Harbor Statement

Statements in this news release that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 involve known and unknown risks and uncertainties which may cause the Company’s actual results in future periods to be materially different from any future performance that may be suggested in this release. The Company assumes no obligation to update any forward-looking statements contained in this release.

© 2021 SYNNEX Corporation. TD SYNNEX, the TD SYNNEX Logo, and all other TD SYNNEX company, product and services names and slogans are trademarks of SYNNEX Corporation. Other names and trademarks are the property of their respective owners.

About Cohesity


Cohesity
 radically simplifies data management. We make it easy to protect, manage, and derive value from data — across the data center, edge and cloud. We offer a full suite of services consolidated on one multicloud data platform: backup and recovery, disaster recovery, file and object services, dev/test, and data compliance, security, and analytics — reducing complexity and eliminating mass data fragmentation. Cohesity can be delivered as a service, self-managed, or provided by a Cohesity-powered partner. 

© 2021 Cohesity, Inc. All rights reserved. Cohesity, the Cohesity logo, Helios, and other Cohesity marks are trademarks or registered trademarks of Cohesity, Inc. in the US and/or internationally. Other company and product names may be trademarks of the respective companies with which they are associated.

Media Contacts

Robyn Itule

Director, Americas Communications
TD SYNNEX, Americas
(727) 275-5236
[email protected] 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/tech-data-capital-and-cohesity-deliver-smart-payment-solutions-301403831.html

SOURCE TD SYNNEX

HarperCollins Publishers Commits to Becoming Carbon Neutral in Direct Emissions In 2022

HarperCollins Publishers Commits to Becoming Carbon Neutral in Direct Emissions In 2022

 

NEW YORK–(BUSINESS WIRE)–
HarperCollins Publishers today announced a global commitment to becoming carbon neutral for its direct operational emissions in 2022. In order to meet this goal, HarperCollins has appointed award-winning sustainability strategy consultancy Brite Green to develop and implement effective sustainability strategies and targets.

HarperCollins will initially focus on Scope 1 and 2 emissions, targeting on-site electricity and fuel energy usage. As part of the News Corp Global Environmental Initiative, HarperCollins is also working toward a goal of achieving net zero carbon emissions across its operational and supply chain by 2050 or earlier, in line with the Paris Agreement.

“As a leading global publishing company, we have a responsibility to mitigate the impact of our business on the environment and to identify ways to improve the sustainability of our industry,” said Brian Murray, President and CEO, HarperCollins Publishers. “We have been successfully reducing our emissions and becoming carbon neutral in Scopes 1 and 2 is the next step in the process. We will continue to work toward our long-term targets and seek to reduce carbon emissions and their associated costs from our business overall.”

HarperCollins has already begun its journey toward becoming carbon neutral, reducing its energy consumption by nearly 30% over the last five years. The company also has Science Based Target Initiative (SBTi) approved goals to further reduce emissions over the coming years—60% reduction across operations and 20% reduction across its supply chain—by 2030 or earlier. These are based on the most stringent 1.5C global temperature rise limit level.

The company aims to work with its current manufacturing partners to jointly help mitigate the industry’s environmental impact, and through industry bodies and its own international sustainability groups seeks to work with suppliers that act in a responsible and sustainable way. Its largest facility, a distribution center in Glasgow, is working to remove plastic from the supply chain, is a ‘zero to landfill’ site, and has been ISO 14001 certified since 2002—the international standard for environmental management. HarperCollins works with printers around the world to set standards and drive environmental responsibility in the key areas of paper sourcing and materials used in the manufacturing of its books through the Book Chain Project. In addition, nearly 100% of all paper purchases bear either an SFI or FSC certification.

“We’re delighted to be working with HarperCollins,” said Darren Chadwick, Managing Partner at Brite Green. “The team have already made excellent progress in reducing their footprint and convening action on sustainability across the publishing industry. We look forward to working with them as they take the significant step of becoming carbon neutral in direct emissions.”

About HarperCollins

HarperCollins Publishers is the second largest consumer book publisher in the world, with operations in 17 countries. With 200 years of history and more than 120 branded imprints around the world, HarperCollins publishes approximately 10,000 new books every year in 16 languages, and has a print and digital catalog of more than 200,000 titles. Writing across dozens of genres, HarperCollins authors include winners of the Nobel Prize, the Pulitzer Prize, the National Book Award, the Newbery and Caldecott Medals and the Man Booker Prize. HarperCollins, headquartered in New York, is a subsidiary of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) and can be visited online atcorporate.HC.com.

Erin Crum

HarperCollins Publishers

212-207-7223

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Publishing Environment Communications Books Entertainment

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BowX Acquisition Corp. Announces Stockholder Approval of Business Combination with WeWork

BowX Acquisition Corp. Announces Stockholder Approval of Business Combination with WeWork

  • Merger is expected to close on or around October 20, 2021
  • Transaction expected to provide WeWork with approximately $1.3 billion in cash, prior to expenses, full amount expected in initial agreement announced on March 26, 2021.
  • Combined company to be named WeWork and will begin trading on the New York Stock Exchange under the ticker “WE” on October 21, 2021

 

MENLO PARK & NEW YORK–(BUSINESS WIRE)–
BowX Acquisition Corp. (NASDAQ: BOWX, BOWXU, AND BOWXW) (“BowX”), a special purpose acquisition company, today announced that in a special meeting held today, its stockholders voted to approve its business combination with WeWork Inc. (“WeWork”), the leading flexible space provider. The business combination was supported by 97.9% of the votes cast at the meeting, representing approximately 77.6% of BowX’s outstanding shares.

The business combination is expected to provide WeWork with the previously announced gross cash proceeds of approximately $1.3 billion, which includes the cash held in the trust account, a fully committed PIPE and an equity backstop facility provided by Cushman & Wakefield. In addition, as previously disclosed, upon the closing of the business combination, WeWork will have access to up to 550,000,000 of senior secured debt in the form of 7.5% senior secured notes pursuant to its amended and restated master senior secured notes note purchase agreement with StarBright WW LP, an affiliate of SoftBank Group Corp.

BowX and WeWork will combine to create the leading publicly traded provider of flexible space and workplace management solutions, with a platform and global network that will ideally position the company to serve the multi-trillion office space market and enable the future of work.

The business combination is expected to close on October 20, 2021, subject to the satisfaction or waiver of all closing conditions. Following the close, WeWork and its common stock and warrants are expected to begin trading on the New York Stock Exchange under the ticker symbol “WE”, on October 21, 2021.

About BowX Acquisition Corp.

BowX Acquisition Corp. is a Special Purpose Acquisition Company formed by management of Bow Capital, including Vivek Ranadivé, and Murray Rode. Bow Capital is a venture capital fund bridging the best of academia, business, and entertainment. Mr. Ranadivé has four decades of experience and is founder and managing director of Bow Capital, as well as previous founder and CEO of TIBCO. Mr. Rode is senior advisor of Bow Capital and former CEO of TIBCO, with over 30 years of experience in tech.

About WeWork

WeWork was founded in 2010 with the vision to create environments where people and companies come together and do their best work. Since opening our first location in New York City, we’ve grown into a global flexible space provider committed to delivering technology-driven flexible solutions, inspiring spaces, and unmatched community experiences. Today, we’re constantly reimagining how the workplace can help everyone, from freelancers to Fortune 500s, be more motivated, productive, and connected. For more information about WeWork, please visit us at https://wework.com.

Forward-Looking Statements

Certain statements made in this press release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Such “forward-looking statements” with respect to the proposed transaction between WeWork and BowX include statements regarding the benefits and timing of the transaction, the anticipated timing of the trading of the combined company and expectations regarding the combined company’s position to serve the multi-trillion office space market and enable the future of work. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “pipeline,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of BowX’s securities, (ii) the risk that the transaction may not be completed by BowX’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by BowX, (iii) the failure to satisfy the conditions to the consummation of the transaction, including receipt of certain governmental and regulatory approvals, (iv) the lack of a third party valuation in determining whether or not to pursue the proposed transaction, (v) the inability to complete the PIPE investment, (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vii) the effect of the announcement or pendency of the transaction on WeWork’s business relationships, operating results, and business generally, (viii) risks that the proposed transaction disrupts current plans and operations of WeWork and potential difficulties in WeWork employee retention as a result of the transaction, (ix) the outcome of any legal proceedings that may be instituted against WeWork or against BowX related to the Merger Agreement or the proposed transaction, (x) the ability to maintain the listing of BowX’s securities on a national securities exchange, (xi) the price of BowX’s securities may be volatile due to a variety of factors, including changes in the competitive and regulated industries in which BowX plans to operate or WeWork operates, variations in operating performance across competitors, changes in laws and regulations affecting BowX’s or WeWork’s business, WeWork’s inability to implement its business plan or meet or exceed its financial projections and changes in the combined capital structure, (xii) changes in general economic conditions, including as a result of the COVID-19 pandemic, and (xiii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the registration statement on Form S-4 discussed above, the proxy statement/prospectus and other documents filed or that may be filed by BowX from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and WeWork and BowX assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither WeWork nor BowX gives any assurance that either WeWork or BowX, or the combined company, will achieve its expectations.

Category: Investor Relations

Source We Work

Investors

Chandler Salisbury

[email protected]

Media

Nicole Sizemore / Julia Sullivan

[email protected]

KEYWORDS: California New York United States North America

INDUSTRY KEYWORDS: Professional Services Other Professional Services Other Construction & Property Commercial Building & Real Estate Finance Construction & Property

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Global Clean Energy Holdings, Inc. Signs Agreement with Pacific Gas & Electric to Develop “Behind the Meter” Cost and Carbon Cutting Energy Projects

Global Clean Energy Holdings, Inc. Signs Agreement with Pacific Gas & Electric to Develop “Behind the Meter” Cost and Carbon Cutting Energy Projects

BAKERSFIELD, Calif.–(BUSINESS WIRE)–Global Clean Energy Holdings, Inc. (OTCQX: GCEH) announced that it has signed a Master Services Agreement with Pacific Gas and Electric Company (NYSE: PCG) under which PG&E will identify, design, and implement renewable generation and energy management projects at GCEH’s Bakersfield Renewable Diesel Refinery to help reduce the refinery’s operating costs and carbon footprint.

  • PG&E’s Sustainable Solutions Turnkey (SST) team will act as the EPC Contractor responsible for the engineering, procurement, construction, commissioning, and permitting for each approved project.
  • Projects under consideration include an onsite solar plant, heat recovery from the hydrotreating process to produce both electrical and process steam generation, lighting, variable frequency drives, energy storage, HVAC upgrades, building controls, boiler plant improvements, etc.
  • These projects are expected to not only help reduce the plant’s operating costs but to also reduce the refinery’s overall carbon intensity (CI), thus increasing the value of the LCFS credits generated from the sale of the plant’s renewable diesel, sustainable aviation fuel, renewable propane, and renewable naphtha.

To kick off this collaboration, PG&E will be issuing a Contract Opportunity Announcement (COA) for a 10 MW solar plant to be located at the refinery site in Bakersfield.

In addition, GCEH has purchased two electric railcar movers for use at the refinery, which are expected to be eligible for substantial cost savings under PG&E’s “EV Fleet” program.

“Combining the talents and extensive experience of GCEH’s energy and sustainability team with that of PG&E’s provides a winning combination in helping the refinery site to be a more profitable and a more sustainable operation, while doing its part to address the impacts of climate change,” said Richard Palmer, CEO of Global Clean Energy Holdings.

“We are thrilled to partner with PG&E on this important group of projects to generate renewable power, and to optimize the integration of various systems and technologies at our Bakersfield Refinery,” said Richard Palmer. “These projects are intended to significantly reduce the refinery’s operating costs and further reduce the carbon intensity of our finished renewable transportation fuels.”

“This is an exciting collaboration,” said Aaron August, Vice President of Business Development and Customer Engagement for PG&E. “Our SST team is perfectly positioned to assist customers like GCEH drive significant cost and carbon reductions behind the meter by designing and installing ‘state of the art’ green energy systems. We’re proud to be doing this kind of work, day in and day out, for our customers.”

About Global Clean Energy Holdings

Global Clean Energy Holdings, Inc. (“GCEH”) is a uniquely positioned vertically integrated renewable fuels company. GCEH’s farm-to-fuel strategy has been in place since the inception of its business, to control the full integration of the entire biofuels supply chain from the development, production, processing, and transportation of feedstocks through to the refining and distribution of renewable fuels. GCEH is retooling and constructing its renewable diesel refinery in Bakersfield, California, which when completed in early 2022 will be the largest renewable fuels facility in the western United States and the largest in the country that produces renewable fuels from non-food-based feedstocks. More information can be found online at www.gceholdings.com.

Forward-Looking Statements

Certain matters discussed in this press release are “forward-looking statements” of Global Clean Energy Holdings, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, the Company’s ability to reduce its operating costs and its carbon intensity, are forward-looking statements and are subject to a number of risks and uncertainties. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the sections titled “Risk Factors” in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.

Global Clean Energy Holdings, Inc.

Natalie Findlay

[email protected]

(424) 318-3518

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Environment Other Energy Transport Utilities Oil/Gas Alternative Energy Energy Logistics/Supply Chain Management Agriculture Natural Resources

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Unleash the New Google Pixel 6 and 6 Pro on Us at T-Mobile, America’s Leader in 5G

Unleash the New Google Pixel 6 and 6 Pro on Us at T-Mobile, America’s Leader in 5G

What’s the news: The fastest Pixels are coming to T-Mobile on the largest and fastest nationwide 5G network and include the Un-carrier’s new Ultra Capacity 5G icon, so customers know when they can tap into blazing 5G speeds. T-Mobile has deals for new and existing customers to get either phone on Us!

Why it matters: People like free phones. People like their phones to go fast.

Who it’s for: Anyone and everyone looking to upgrade to the latest 5G smartphone from Google.

BELLEVUE, Wash.–(BUSINESS WIRE)–
Ok Google. Tell me the best place to get the latest Pixel. T-Mobile (NASDAQ: TMUS) today announced that the Google Pixel 6 and Pixel 6 Pro are both coming to the Un-carrier on October 28 with pre-orders kicking off today. And the Un-carrier has a great deal for both new and existing customers!

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211019006117/en/

Unleash the New Google Pixel 6 and 6 Pro on Us at T-Mobile, America’s Leader in 5G (Photo: Business Wire)

Unleash the New Google Pixel 6 and 6 Pro on Us at T-Mobile, America’s Leader in 5G (Photo: Business Wire)

  • Get the Google Pixel 6 or Pixel 6 Pro on Us (up to $900 off) with 24 monthly bill credits when you trade-in an eligible device on Magenta MAX or get up to $450 off when trading in on ANY plan.
  • Get $500 off Google Pixel 6 or the Pixel 6 Pro with 24 monthly bill credits when adding a line on ANY plan.

“T-Mobile and Google are back at it again, unleashing the fastest Pixels on the largest, fastest and most reliable 5G network,” said Jon Freier, Consumer Group President at T-Mobile. “And we’re not stopping there. These are the first Android devices to showcase the new Ultra Capacity 5G icon, so customers know where they can really fly on our 5G network. And we have offers for both new and existing customers.”

Both of the new Pixels tap into the power of T-Mobile’s 5G network, lighting up Extended Range 5G for broad coverage and Ultra Capacity 5G for super-fast speeds in more places on the nation’s largest, fastest and most reliable nationwide 5G network. And Pixel customers will now be able to see when they are in an areas with Ultra Capacity to hit those super-fast speeds as fast as Wi-Fi. The new Pixels are the first Android devices to showcase the new Ultra Capacity 5G icon.

The new lineup of 5G Pixels sport an all-new design with a metal frame and 3D glass panels on the back. Both the Pixel 6 and 6 Pro are powered by Google’s premium new chip, Tensor, the fastest mobile chip from Google and both run on Android 12. The Google Pixel 6 has a 6.4” FHD+ display with dual rear cameras (12MP ultrawide + 50MP wide lens) and an 8MP front camera. The Pixel 6 comes packed with a 4614 mAh battery to stay powered up on the go. The Google Pixel 6 Pro has a larger 6.7” QHD+ display with triple rear cameras (12MP ultrawide + 50MP wide + 48MP tele lens) and a 11MP front camera. It’s packed with a 5003 mAh battery. Both new smartphones include Google’s latest camera features such as, Magic Eraser which allows customers to perfect their photos by removing photobombers and distractions.

And to save all those sweet photos and videos you’ll be taking with the new Pixels, T-Mobile just rolled out an exclusive Google One cloud storage plan! Customers can sign up for 500GB of storage for just $5 a month — and for a limited time customers get a 30-day free trial. T-Mobile customers can also take it to the next level with 2TB of storage for $10 a month.

The Google Pixel 6 in Sorta Seafoam or Stormy Black and 6 Pro in Cloudy White and Stormy Black are available for pre-order at T-Mobile today, October 19, and in-stores on October 28. New and existing customers, including small businesses, can take advantage of T-Mobile’s offers or pick up the Google Pixel 6 for $25/month ($0 down; full retail price: $599.99) and the Pixel 6 Pro for $31.25/month ($149.99 down; full retail price: $899.99) – all over 24 months for well qualified customers on T-Mobile’s no-interest equipment installment plan.

For more details on the Google Pixel 6 and 6 Pro at T-Mobile, head here: https://www.t-mobile.com/offers/google-phone-deals. For more information on T-Mobile for Business offers, go here: t-mobile.com/business/offers/business-deals-hub. Follow T-Mobile’s Official Twitter Newsroom @TMobileNews to stay up to date with the latest company news.

Pixel 6 Offers: Contact us before cancelling service to continue remaining bill credits, or credits stop & balance on required finance agreement is due (e.g., $899.99 – Pixel 6 Pro). Tax on pre-credit price due at sale. Qualifying credit, service, and trade-in (for $450/$900 offers) or new line (for $500 offer) required. Via trade-in credit (where applicable) and bill credits; must be active and in good standing for credits; allow 2 bill cycles. Max 4/account. 5G coverage not available in some areas, some uses may require certain plan or feature; see T-Mobile.com. Most Reliable: According to an audit report conducted by independent third party umlaut containing crowdsourced data for user experience collected from January to July 2021. Full details at: www.umlaut.com/en/benchmarking/USA. Fastest: ​Based onaverage, overall combined 5G speeds according to Opensignal Awards – USA: 5G User Experience Report October 2021​, based on independent analysis of average speeds from mobile measurements recorded during the period June 14 – September 11, 2021 © 2021 Opensignal Limited. Google One Trial: After free trial, plan automatically renews for $5/mo. on your T-Mobile bill; cancel anytime. See T-Mobile Tuesdays App for details.

About T-Mobile

T-Mobile U.S. Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Sprint. For more information please visit: https://www.t-mobile.com.

Media Contacts

T-Mobile US, Inc. Media Relations

[email protected]

Investor Relations Contact

T-Mobile US, Inc.

[email protected]

https://investor.t-mobile.com

KEYWORDS: Washington United States North America

INDUSTRY KEYWORDS: Other Consumer Technology Mobile/Wireless Telecommunications Internet Hardware Consumer Data Management Consumer Electronics

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Unleash the New Google Pixel 6 and 6 Pro on Us at T-Mobile, America’s Leader in 5G (Photo: Business Wire)
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Intuitive Announces Third Quarter Earnings

SUNNYVALE, Calif., Oct. 19, 2021 (GLOBE NEWSWIRE) — Intuitive (the “Company”) (Nasdaq: ISRG), a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery, today announced financial results for the quarter ended September 30, 2021. All share and per-share information have been retroactively adjusted to reflect a three-for-one stock split.

Q3 Highlights

  • Worldwide da Vinci procedures grew approximately 20% compared with the third quarter of 2020. The third quarter of 2020 reflected significant disruption caused by the COVID-19 pandemic, and the third quarter of 2021 reflected a COVID-19 resurgence, which also significantly impacted our procedures. The compound annual growth rate between the third quarter of 2019 and the third quarter of 2021 was 13%.
  • The Company shipped 336 da Vinci Surgical Systems, an increase of 72% compared with 195 in the third quarter of 2020.
  • The Company grew its da Vinci Surgical System installed base to 6,525 systems as of September 30, 2021, an increase of 11% compared with 5,865 as of the end of the third quarter of 2020.
  • The Company’s stockholders approved a three-for-one split of the Company’s issued and outstanding common stock, which began trading on a split-adjusted basis on October 5, 2021.
  • Third quarter 2021 revenue of $1.40 billion increased 30% compared with $1.08 billion in the third quarter of 2020. The compound annual growth rate between the third quarter of 2019 and the third quarter of 2021 was 12%.
  • Third quarter 2021 GAAP net income was $381 million, or $1.04 per diluted share, compared with $314 million, or $0.87 per diluted share, in the third quarter of 2020.
  • Third quarter 2021 non-GAAP* net income was $435 million, or $1.19 per diluted share, compared with $334 million, or $0.92 per diluted share, in the third quarter of 2020.

Q3 Financial Summary

Gross profit, income from operations, net income, net income per diluted share, and diluted shares are reported on a GAAP and non-GAAP* basis. The non-GAAP* measures are described below and are reconciled to the corresponding GAAP measures at the end of this release.

Third quarter 2021 revenue was $1.40 billion, an increase of 30% compared with $1.08 billion in the third quarter of 2020. The compound annual growth rate between the third quarter of 2019 and the third quarter of 2021 was 12%. Higher third quarter revenue was driven by growth in da Vinci system placements and procedures. Additionally, in conjunction with the Company’s 2020 COVID-19 Customer Relief Program, third quarter 2020 revenue was reduced by $23 million for service fee credits provided to customers.

Third quarter 2021 instruments and accessories revenue increased by 20% to $755 million, compared with $631 million in the third quarter of 2020, primarily driven by approximately 20% growth in da Vinci procedure volume.

Third quarter 2021 systems revenue increased by 55% to $415 million, compared with $268 million in the third quarter of 2020. The Company shipped 336 da Vinci Surgical Systems in the third quarter of 2021, compared with 195 systems in the third quarter of 2020. The third quarter 2021 system shipments included 139 systems shipped under operating lease and usage-based arrangements, compared with 68 systems in the third quarter of 2020.

Third quarter 2021 GAAP income from operations increased to $443 million, compared with $270 million in the third quarter of 2020. Third quarter 2021 GAAP income from operations included share-based compensation expense of $123 million, compared with $107 million in the third quarter of 2020. Third quarter 2021 non-GAAP* income from operations increased to $570 million, compared with $402 million in the third quarter of 2020.

Third quarter 2021 GAAP net income was $381 million, or $1.04 per diluted share, compared with $314 million, or $0.87 per diluted share, in the third quarter of 2020. Third quarter 2021 GAAP net income included excess tax benefits of $42 million, or $0.12 per diluted share, compared with $48 million, or $0.13 per diluted share, in the third quarter of 2020. Third quarter 2021 GAAP net income included other income related to unrealized gains on strategic investments of $8 million, or $0.02 per diluted share, compared with $62 million, or $0.17 per diluted share, in the third quarter of 2020. These benefits are excluded from non-GAAP net income.

Third quarter 2021 non-GAAP* net income was $435 million, or $1.19 per diluted share, compared with $334 million, or $0.92 per diluted share, in the third quarter of 2020.

The Company ended the third quarter of 2021 with $8.2 billion in cash, cash equivalents, and investments, an increase of $485 million during the quarter, primarily driven by cash generated from operations.

“We are pleased with our team’s performance in a complex environment, and we are building upon the robust clinical and technological foundation created over the past 26 years through investment in innovation to drive continued growth,” said Intuitive CEO Gary Guthart.

Additional supplemental financial and procedure information has been posted to the Investor Relations section of the Intuitive website at https://isrg.gcs-web.com/.

Webcast and Conference Call Information

Intuitive will hold a teleconference at 1:30 p.m. PDT today to discuss the third quarter 2021 financial results. The call will be webcast by Nasdaq OMX and can be accessed on Intuitive’s website at www.intuitive.com or by dialing (877) 692-8955 using the access code 5830756.

About Intuitive

Intuitive (Nasdaq: ISRG), headquartered in Sunnyvale, California, is a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery. As part of our mission, we believe that minimally invasive care is life-enhancing care. Through ingenuity and intelligent technology, we expand the potential of physicians to heal without constraints.

Intuitive brings more than two decades of leadership in robotic-assisted surgical technology and solutions to its offerings and develops, manufactures, and markets the da Vinci Surgical System and the Ion endoluminal system.

Da Vinci® and Ion™ are trademarks or registered trademarks of Intuitive Surgical, Inc.

For more information, please visit the Company’s website at www.intuitive.com.

Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements are necessarily estimates reflecting the best judgment of our management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements include, but are not limited to, statements related to our ability to build upon the robust clinical and technological foundation created, our ability to work to broaden our capacity, our ability to invest for future innovation and growth, the expected impacts of the COVID-19 pandemic on our business, financial condition, and results of operations, the potential impact on our procedure volume, our expected business, procedures and procedure adoption, future results of operations, future financial position, our ability to increase our revenues, anticipated costs of revenue, anticipated expenses, our potential tax assets or liabilities, our investments, anticipated cash flows, and statements based on current expectations, estimates, forecasts, and projections about the economies and markets in which we operate and our beliefs and assumptions regarding these economies and markets. These forward-looking statements should be considered in light of various important factors, including, but not limited to, the following: our ability to obtain accurate procedure volume and mix in the midst of the COVID-19 pandemic; the risk that the COVID-19 pandemic could lead to further material delays and cancellations of, or reduced demand for, procedures; curtailed or delayed capital spending by hospitals; disruption to our supply chain, including increased difficulties in obtaining a sufficient amount of materials in the semiconductor and other markets; closures of our facilities; delays in surgeon training; delays in gathering clinical evidence; delays in obtaining new product approvals or clearances from the U.S. Food and Drug Administration due to the effects of the COVID-19 pandemic; the evaluation of the risks of robotic-assisted surgery in the presence of infectious diseases; diversion of management and other resources to respond to COVID-19 outbreaks; the impact of global and regional economic and credit market conditions on healthcare spending; the risk that the COVID-19 virus disrupts local economies and causes economies in our key markets to enter prolonged recessions; healthcare reform legislation in the U.S. and its impact on hospital spending, reimbursement, and fees levied on certain medical device revenues; changes in hospital admissions and actions by payers to limit or manage surgical procedures; the timing and success of product development and market acceptance of developed products; the results of any collaborations, in-licensing arrangements, joint ventures, strategic alliances, or partnerships, including the joint venture with Shanghai Fosun Pharmaceutical (Group) Co., Ltd.; our completion of and ability to successfully integrate acquisitions, including Schölly Fiberoptic’s robotic endoscope business and Orpheus Medical; procedure counts; regulatory approvals, clearances, and restrictions or any dispute that may occur with any regulatory body; guidelines and recommendations in the healthcare and patient communities; intellectual property positions and litigation; competition in the medical device industry and in the specific markets of surgery in which we operate; risks associated with our operations outside of the United States; unanticipated manufacturing disruptions or the inability to meet demand for products; our reliance on sole and single source suppliers; the results of legal proceedings to which we are or may become a party; product liability and other litigation claims; adverse publicity regarding us and the safety of our products and adequacy of training; our ability to expand into foreign markets; the impact of changes to tax legislation, guidance, and interpretations; changes in tariffs, trade barriers, and regulatory requirements; and other risk factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which are based on current expectations and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those risk factors identified under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as updated by the Company’s other filings with the Securities and Exchange Commission. Statements using words such as “estimates,” “projects,” “believes,” “anticipates,” “plans,” “expects,” “intends,” “may,” “will,” “could,” “should,” “would,” “targeted,” and similar words and expressions are intended to identify forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update or release any revisions to these forward-looking statements, except as required by law.

*About Non-GAAP Financial Measures

To supplement its consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in the United States (“GAAP”), the Company uses the following non-GAAP financial measures: non-GAAP gross profit, non-GAAP income from operations, non-GAAP net income, non-GAAP net income per diluted share (“EPS”), and non-GAAP diluted shares. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

The Company uses these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. The Company believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance and liquidity by excluding items such as intangible asset charges, share-based compensation (“SBC”) expenses, and other special items. Intangible asset charges consist of non-cash charges, such as the amortization of intangible assets, as well as in-process R&D charges. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing its performance and when planning, forecasting, and analyzing future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to its historical performance and liquidity. The Company believes these non-GAAP financial measures are useful to investors, because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making, and (2) they are used by institutional investors and the analyst community to help them analyze the performance of the Company’s business.

Non-GAAP gross profit. The Company defines non-GAAP gross profit as gross profit, excluding intangible asset charges, expenses related to SBC, and litigation charges and recoveries.

Non-GAAP income from operations. The Company defines non-GAAP income from operations as income from operations, excluding intangible asset charges, certain acquisition-related items for the re-measurement of contingent consideration, expenses related to SBC, and litigation charges and recoveries.

Non-GAAP net income and EPS. The Company defines non-GAAP net income as net income, excluding intangible asset charges, non-cash impairment charges and recoveries, certain acquisition-related items for the re-measurement of contingent consideration, expenses related to SBC, litigation charges and recoveries, unrealized gains on strategic investments, adjustments attributable to noncontrolling interest in joint venture, net of the related tax effects, and tax adjustments, including the excess tax benefits or deficiencies associated with SBC arrangements, a one-time tax benefit from re-measurement of certain deferred tax assets, and the net tax effects related to intra-entity transfers of non-inventory assets. The Company excludes a one-time tax benefit from re-measurement of certain deferred tax assets, because it is discrete in nature, and excludes the excess tax benefits or deficiencies associated with SBC arrangements as well as the tax effects associated with non-cash amortization of deferred tax assets related to intra-entity non-inventory transfers, because the Company does not believe these items correlate with the on-going results of its core operations. The tax effects of the non-GAAP items are determined by applying a calculated non-GAAP effective tax rate, which is commonly referred to as the with-and-without method. Without excluding these tax effects, investors would only see the gross effect that these non-GAAP adjustments had on the Company’s operating results. The Company’s calculated non-GAAP effective tax rate is generally higher than its GAAP effective tax rate. The Company defines non-GAAP EPS as non-GAAP net income divided by non-GAAP diluted shares, which are calculated as GAAP weighted average outstanding shares plus dilutive potential shares outstanding during the period.

There are a number of limitations related to the use of non-GAAP measures versus measures calculated in accordance with GAAP. Non-GAAP gross profit, non-GAAP income from operations, non-GAAP net income, and non-GAAP EPS exclude items such as intangible asset charges, re-measurement of contingent consideration, SBC, excess tax benefits or deficiencies associated with SBC arrangements, and non-cash amortization of deferred tax assets related to intra-entity transfer of non-inventory assets, which are primarily recurring items. SBC has been, and will continue to be for the foreseeable future, a significant recurring expense in the Company’s business. In addition, the components of the costs that the Company excludes in its calculation of non-GAAP net income and non-GAAP EPS may differ from the components that its peer companies exclude when they report their results of operations. Management addresses these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP net income and non-GAAP EPS and evaluating non-GAAP net income and non-GAAP EPS together with net income and net income per share calculated in accordance with GAAP.

INTUITIVE SURGICAL, INC.
UNAUDITED QUARTERLY CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(IN MILLIONS, EXCEPT PER SHARE DATA)*
 
  Three months ended
  September 30,

2021
  June 30,

2021
  September 30,

2020
Revenue:          
Instruments and accessories $ 755.4     $ 796.4     $ 630.6  
Systems 415.2     439.6     267.8  
Services (1) 232.7     228.0     179.3  
Total revenue 1,403.3     1,464.0     1,077.7  
Cost of revenue:          
Product 355.8     374.0     287.7  
Service 76.1     66.3     65.7  
Total cost of revenue 431.9     440.3     353.4  
Gross profit 971.4     1,023.7     724.3  
Operating expenses:          
Selling, general and administrative 363.3     350.2     298.9  
Research and development 165.5     162.3     155.0  
Total operating expenses 528.8     512.5     453.9  
Income from operations (2) 442.6     511.2     270.4  
Interest and other income, net (3) 18.5     15.0     84.8  
Income before taxes 461.1     526.2     355.2  
Income tax expense (4) 73.9     3.2     38.4  
Net income 387.2     523.0     316.8  
Less: net income attributable to noncontrolling interest in joint venture 6.7     5.8     2.9  
Net income attributable to Intuitive Surgical, Inc. $ 380.5     $ 517.2     $ 313.9  
Net income per share attributable to Intuitive Surgical, Inc.:          
Basic $ 1.07     $ 1.45     $ 0.89  
Diluted (5) $ 1.04     $ 1.42     $ 0.87  
Weighted average shares outstanding:          
Basic 356.8     355.7     352.0  
Diluted 366.8     364.9     361.9  
           
(1) Services revenue includes the effect of the following item:          
Customer relief program $     $     $ (23.1 )
(2) Income from operations includes the effect of the following item:          
Intangible asset charges $ (6.5 )   $ (10.9 )   $ (21.6 )
(3) Interest and other income, net includes the effect of the following item:          
Unrealized gains on strategic investments $ 7.7     $ 0.2     $ 61.7  
(4) Income tax expense (benefit) includes the effect of the following items:          
Excess tax benefits related to share-based compensation arrangements $ (41.9 )   $ (43.6 )   $ (47.9 )
One-time tax benefit from re-measurement of certain deferred tax assets $     $ (66.4 )   $  
(5) Diluted net income per share includes the effect of the following items:          
Customer relief program, net of tax $     $     $ (0.05 )
Intangible asset charges, net of tax $ (0.01 )   $ (0.02 )   $ (0.05 )
Unrealized gains on strategic investments, net of tax $ 0.02     $     $ 0.13  
Excess tax benefits related to share-based compensation arrangements $ 0.12     $ 0.12     $ 0.13  
One-time tax benefit from re-measurement of certain deferred tax assets $     $ 0.18     $  
(*) Shares issued pursuant to the three-for-one stock split of the Company’s issued and outstanding common stock, par value $0.001 per share, were distributed on October 4, 2021, to stockholders of record as of September 27, 2021. All share and per-share information have been retroactively adjusted to reflect the stock split.

INTUITIVE SURGICAL, INC.
UNAUDITED NINE MONTHS ENDED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(IN MILLIONS, EXCEPT PER SHARE DATA)*
 
  Nine months ended
  September 30,
  2021   2020
Revenue:      
Instruments and accessories $ 2,257.7     $ 1,708.9  
Systems 1,223.4     812.1  
Services (1) 678.3     508.3  
Total revenue 4,159.4     3,029.3  
Cost of revenue:      
Product 1,049.1     868.2  
Service 212.6     195.7  
Total cost of revenue 1,261.7     1,063.9  
Gross profit 2,897.7     1,965.4  
Operating expenses:      
Selling, general and administrative 1,039.5     886.1  
Research and development 487.6     445.3  
Total operating expenses 1,527.1     1,331.4  
Income from operations (2) 1,370.6     634.0  
Interest and other income, net (3) 65.5     136.5  
Income before taxes 1,436.1     770.5  
Income tax expense (4) 90.7     67.3  
Net income 1,345.4     703.2  
Less: net income attributable to noncontrolling interest in joint venture 21.4     7.8  
Net income attributable to Intuitive Surgical, Inc. $ 1,324.0     $ 695.4  
Net income per share attributable to Intuitive Surgical, Inc.:      
Basic $ 3.72     $ 1.98  
Diluted (5) $ 3.63     $ 1.93  
Weighted average shares outstanding:      
Basic 355.6     350.5  
Diluted 365.1     360.1  
       
(1) Services revenue includes the effect of the following item:      
Customer relief program $     $ (81.7 )
(2) Income from operations includes the effect of the following item:      
Intangible asset charges $ (25.3 )   $ (47.3 )
(3) Interest and other income, net includes the effect of the following item:      
Unrealized gains on strategic investments $ 22.2     $ 61.7  
(4) Income tax expense includes the effect of the following items:      
Excess tax benefits related to share-based compensation arrangements $ (158.9 )   $ (144.8 )
One-time tax benefit from re-measurement of certain deferred tax assets $ (66.4 )   $  
Discrete tax expense arising from the conclusion of a tax matter $ 11.1     $ 36.8  
(5) Diluted net income per share includes the effect of the following items:      
Customer relief program, net of tax $     $ (0.17 )
Intangible asset charges, net of tax $ (0.06 )   $ (0.11 )
Unrealized gains on strategic investments, net of tax $ 0.05     $ 0.13  
Excess tax benefits related to share-based compensation arrangements $ 0.44     $ 0.40  
One-time tax benefit from re-measurement of certain deferred tax assets $ 0.18     $  
Discrete tax expense arising from the conclusion of a tax matter $ (0.03 )   $ (0.10 )
(*) Shares issued pursuant to the three-for-one stock split of the Company’s issued and outstanding common stock, par value $0.001 per share, were distributed on October 4, 2021, to stockholders of record as of September 27, 2021. All share and per-share information have been retroactively adjusted to reflect the stock split.

INTUITIVE SURGICAL, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(IN MILLIONS)
 
  September 30,

2021
  December 31,

2020
Cash, cash equivalents, and investments $ 8,219.7     $ 6,869.1  
Accounts receivable, net 695.0     645.5  
Inventory 584.9     601.5  
Property, plant, and equipment, net 1,737.9     1,577.3  
Goodwill 344.3     336.7  
Deferred tax assets 411.5     367.7  
Other assets 941.3     771.1  
Total assets $ 12,934.6     $ 11,168.9  
       
Accounts payable and other accrued liabilities $ 1,091.6     $ 1,027.4  
Deferred revenue 383.5     382.4  
Total liabilities 1,475.1     1,409.8  
Stockholders’ equity 11,459.5     9,759.1  
Total liabilities and stockholders’ equity $ 12,934.6     $ 11,168.9  

INTUITIVE SURGICAL, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(IN MILLIONS, EXCEPT PER SHARE DATA)*
 
    Three months ended   Nine months ended
    September 30,

2021
  June 30,

2021
  September 30,

2020
  September 30,

2021
  September 30,

2020
GAAP gross profit   $ 971.4     $ 1,023.7     $ 724.3     $ 2,897.7     $ 1,965.4  
Share-based compensation expense   24.5     21.3     22.6     66.5     59.8  
Intangible asset charges   4.0     5.0     9.9     13.5     29.4  
Non-GAAP gross profit   $ 999.9     $ 1,050.0     $ 756.8     $ 2,977.7     $ 2,054.6  
                     
GAAP income from operations   $ 442.6     $ 511.2     $ 270.4     $ 1,370.6     $ 634.0  
Share-based compensation expense   121.1     109.0     105.8     333.7     292.3  
Intangible asset charges   6.3     10.6     21.6     23.8     47.3  
Litigation recoveries       (0.9 )       (0.9 )   (1.2 )
Acquisition-related items           4.6         7.6  
Non-GAAP income from operations   $ 570.0     $ 629.9     $ 402.4     $ 1,727.2     $ 980.0  
                     
GAAP net income attributable to Intuitive Surgical, Inc.   $ 380.5     $ 517.2     $ 313.9     $ 1,324.0     $ 695.4  
Share-based compensation expense   121.1     109.0     105.8     333.7     292.3  
Intangible asset charges   6.3     10.6     21.6     23.8     47.3  
Litigation recoveries       (0.9 )       (0.9 )   (1.2 )
Acquisition-related items           4.6         7.6  
Unrealized gains on strategic investments   (7.6 )       (61.7 )   (21.9 )   (61.7 )
Tax adjustments (1)   (65.1 )   (158.4 )   (46.0 )   (318.4 )   (180.1 )
Adjustments attributable to noncontrolling interest in joint venture   (0.5 )   (0.4 )   (4.4 )   (1.3 )   (10.7 )
Non-GAAP net income attributable to Intuitive Surgical, Inc.   $ 434.7     $ 477.1     $ 333.8     $ 1,339.0     $ 788.9  
                     
GAAP net income per share attributable to Intuitive Surgical, Inc. – diluted   $ 1.04     $ 1.42     $ 0.87     $ 3.63     $ 1.93  
Share-based compensation expense   0.33     0.29     0.29     0.91     0.81  
Intangible asset charges   0.02     0.03     0.07     0.06     0.13  
Litigation recoveries                    
Acquisition-related items           0.01         0.02  
Unrealized gains on strategic investments   (0.02 )       (0.17 )   (0.06 )   (0.17 )
Tax adjustments (1)   (0.18 )   (0.43 )   (0.14 )   (0.87 )   (0.51 )
Adjustments attributable to noncontrolling interest in joint venture           (0.01 )       (0.03 )
Non-GAAP net income per share attributable to Intuitive Surgical, Inc. – diluted   $ 1.19     $ 1.31     $ 0.92     $ 3.67     $ 2.18  
                     
(1) For the three months ended September 30, 2021, tax adjustments included: (a) excess tax benefits associated with share-based compensation arrangements of $(41.9) million, or $(0.12) per diluted share; (b) tax impact related to intra-entity transfers of non-inventory assets of $7.0 million, or $0.02 per diluted share; and (c) other tax adjustments effects determined by applying a calculated non-GAAP effective tax rate of $(30.2) million, or $(0.08) per diluted share.

For the nine months ended September 30, 2021, tax adjustments included: (a) excess tax benefits associated with share-based compensation arrangements of $(158.9) million, or $(0.44) per diluted share; (b) one-time tax benefit from re-measurement of certain deferred tax assets of $(66.4) million, or $(0.18) per share; (c) tax impact related to intra-entity transfers of non-inventory assets of $20.9 million, or $0.06 per diluted share; and (d) other tax adjustments effects determined by applying a calculated non-GAAP effective tax rate of $(114.0) million, or $(0.31) per diluted share.

(*) Shares issued pursuant to the three-for-one stock split of the Company’s issued and outstanding common stock, par value $0.001 per share, were distributed on October 4, 2021, to stockholders of record as of September 27, 2021. All share and per-share information have been retroactively adjusted to reflect the stock split.

Contact: Investor Relations
(408) 523-2161



Intuitive Announces Executive Leadership Changes

Moves reflect growth and help advance minimally invasive care

  • Marshall Mohr named new EVP for Global Business Services
  • Jamie Samath named CFO
  • Dave Rosa named new Chief Strategy and Growth Officer
  • Henry Charlton named Chief Commercial Officer

SUNNYVALE, Calif., Oct. 19, 2021 (GLOBE NEWSWIRE) — Intuitive (Nasdaq: ISRG), a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery, today announced executive leadership changes that reflect the company’s growth and plans for advancing minimally invasive care globally.

Intuitive has created two new functional organizations: Strategy and Growth, and Global Business Services. These organizations will be led by experienced senior executives who have spent decades with Intuitive. Placing strategy and growth teams within a new organization will create clearer prioritization and stronger alignment for investments in support of the company’s long-term growth plan. Given the opportunities for continued growth, the new global business services organization will serve to align and scale processes, manage multi-year IT roadmaps, better use enterprise data for real-time decision-making, and maintain and execute global facilities and maintenance roadmaps.

The following executives will begin their duties on Jan. 1, 2022:

  • Marshall Mohr will assume the new role of Executive Vice President, Global Business Services, where he will lead Intuitive’s continued growth in infrastructure, processes, and systems and facilities. He has served as Chief Financial Officer for more than 15 years.
  • Jamie Samath will succeed Mohr to become Chief Financial Officer, focusing on Intuitive’s financial performance, growth objectives, and future fiscal trajectory. Samath has been with Intuitive since 2013, managing most of the finance functions during that time.
  • Dave Rosa will assume the new role of Executive Vice President and Chief Strategy & Growth Officer, leading efforts to identify and realize long-term business opportunities, continuing to build the value of Intuitive’s product offerings, and ensuring customers clearly understand the value of Intuitive’s ecosystem in creating successful minimally invasive care programs. Rosa has been with Intuitive for more than 25 years, working across the business.
  • Henry Charlton will succeed Rosa in the role of Chief Commercial Officer, overseeing global sales, regional marketing, commercial learning and enablement, and services. He has been with Intuitive for 18 years in the commercial organization.

“These are outstanding and proven leaders. I am confident they will be effective in pursuing our goal to advance minimally invasive care globally in a highly competitive environment,” said Intuitive CEO Gary Guthart. “Their efforts will help us operate at the larger scale our customers demand globally.”

With strong leadership in new and existing roles, Intuitive will continue to drive measurable improvement in the Quadruple Aim for customers—better patient outcomes, better patient and care team experiences, and lower total cost to treat—and meet the future challenges of healthcare.

Intuitive pioneered the field of robotic-assisted minimally invasive surgery more than two decades ago with the da Vinci surgical system. Since then, more than 8.5 million procedures have been performed using da Vinci systems, with more than 55,000 surgeons worldwide trained on da Vinci systems.

About Intuitive

Intuitive (Nasdaq: ISRG), headquartered in Sunnyvale, Calif., is a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery. As part of our mission, we believe that minimally invasive care is life-enhancing care. Through ingenuity and intelligent technology, we expand the potential of physicians to heal without constraints.

Intuitive brings more than two decades of leadership in robotic-assisted surgical technology and solutions to its offerings, and develops, manufactures, and markets the da Vinci® surgical system and the Ion™ endoluminal system (available only in the U.S.).

About the da Vinci Surgical System

There are several models of the da Vinci surgical system. The da Vinci surgical systems are designed to help surgeons perform minimally invasive surgery. Da Vinci systems offer surgeons high-definition 3D vision, a magnified view, and robotic and computer assistance. They use specialized instrumentation, including a miniaturized surgical camera and wristed instruments (i.e., scissors, scalpels and forceps) that are designed to help with precise dissection and reconstruction deep inside the body.

About Ion

Ion is Intuitive’s robotic-assisted platform for minimally invasive biopsy in the lung. The system features an ultra-thin, ultra-maneuverable catheter that allows navigation far into the peripheral lung and provides the unprecedented stability necessary for precision in biopsy.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding executive leadership changes. These forward-looking statements include statements regarding our future operational and financial performance, product development, market position and business strategy. These statements reflect the best judgment of the Company’s management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These forward-looking statements should, therefore, be considered in light of the risk factors under the heading “Risk Factors” in our report on Form 10-K for the year ended December 31, 2020, as updated by the Company’s other filings with the Securities and Exchange Commission. Statements using words such as “estimates,” “projects,” “believes,” “anticipates,” “plans,” “expects,” “intends,” “may,” “will,” “could,” “should,” “would,” “targeted,” and similar words and expressions are intended to identify forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update or release any revisions to these forward-looking statements, except as required by law.

For more information, please visit the company’s website at www.intuitive.com.

Contact

US/GLOBAL: Global Public Affairs
Intuitive Surgical
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Jeep® Brand Dominates the Sixth Rebelle Rally

Jeep® Wrangler sweeps the podium, Wrangler 4xe is the first electrified vehicle to win the Rebelle Rally

PR Newswire

AUBURN HILLS, Mich., Oct. 19, 2021 /PRNewswire/ —

  • Wrangler 4xe places first and second overall while also taking Bone Stock and Electrified titles
  • Overall, the Jeep Wrangler takes the top three positions and Jeep 4×4 vehicles take five of the top 10 positions
  • Team 4xEventure (team 129) of Nena Barlow and Teralin Petereit and their Jeep Wrangler Rubicon 4xe take overall win along with Bone Stock and Electrified awards
  • The mother and daughter team of Christine and Emily Benzie and their 2021 Jeep Wrangler Rubicon 4xe Team Jeep Thrills (team 177) brought home a strong second place
  • Jeep proudly teamed up with Team Asdzáá Skoden Rebelles (team 160) of Shandiina Peters and Racquel Black, the first all-Navajo team to compete in the Rally
  • Since the Rebelle Rally started six years ago, Jeep 4×4 vehicles have won five of six overall wins
  • Jeep Wrangler 4xe delivers 49 MPGe and 21 miles of all-electric range with no range anxiety

When the dust settled after the sixth Rebelle Rally, Jeep® SUVs overwhelmingly led the pack. The 2021 Jeep Wrangler 4xe is the first electrified vehicle to win the 1,500-mile trek across the Nevada and California deserts, finishing in both first and second place, taking the overall win and the Bone Stock award. In addition, the Jeep Wrangler swept the podium, securing the top three positions, while also taking five of the top 10 spots.

“The Jeep brand continues to dominate for a reason,” said Emily Miller, founder – Rebelle Rally. “Off the showroom floor, a Jeep 4×4 is an exceptionally capable vehicle to take on the Rebelle Rally. The Wrangler 4xe definitely proved itself in an impressive way, taking the top two positions in the overall competition.”

Team 4xEventure (team 129) of Nena Barlow and Teralin Petereit and their Jeep Wrangler Rubicon 4xe took the overall win and Bone Stock award in this year’s Rebelle Rally. The team’s Wrangler Rubicon 4xe was also the top-scoring electrified vehicle. Barlow and Petereit were consistently dominant, taking the most points in four of the seven stages, never scoring lower than third. This is Petereit’s third overall win while placing on the podium in her two other years of competition, making her the most successful Rebelle Rally competitor. 

“The course was more challenging than ever this year, but the Wrangler 4xe made it easy,” said Nena Barlow of Team 4xEventure. “We torqued up dunes and rock-crawled mountains and washes with ease and efficiency. Not to mention, we never lacked for range or power.”

Team Jeep Thrills (team 177) brought home a strong second place. The mother and daughter team of Christine and Emily Benzie and their 2021 Jeep Wrangler Rubicon 4xe took one stage win and never finished out of the top 10. This is their third Rebelle podium in the Bone Stock category, with one win, and their first podium in the overall.  

“The Rubicon 4xe was pure pleasure to drive during the Rally,” said Emily Benzie of Team Jeep Thrills. “The suspension smoothed the many whoops and washouts we encountered in the Nevada and California deserts. On the third day of competition, we opened the Sky One-Touch Power-Top, without having to stop the Jeep, to admire the steep cliff faces of the scenic Titus Canyon in Death Valley, and then closed it as a dust storm began to form on the valley floor. On the last afternoon, the added torque from the Rubicon 4xe electric mode combined with the eight-speed transmission created the perfect machine to tackle the soft sand in the large dunes of the Glamis sand dune complex.”

Jeep proudly teamed up with Team Asdzáá Skoden Rebelles (team 160) of Shandiina Peters and Racquel Black, the first all-Navajo team to compete in the Rally. As Rebelle Rally rookies, they piloted their Jeep Wrangler Rubicon 4xe to a respectable finish of 29th overall. 

“Participating in the Rebelle Rally this year was definitely an unforgettable experience,” said Racquel Black of Team Asdzáá Skoden Rebelles. “Our opportunity and success at the rally came to fruition because of the Jeep brand’s amazing sponsorship of the beautiful and powerful plug-in hybrid Wrangler Rubicon 4xe!”

The Bone Stock designation requires vehicles to be as delivered from the manufacturer, with the only allowances for aftermarket tires and wheels in the factory sizes. New last year, the Electrified Designation applies to EVs, PHEVs and hybrid vehicles. 

“The Jeep brand has supported the Rebelle Rally since the beginning six years ago and, this year, we were excited to showcase the new Wrangler 4xe in the most difficult off-road rally conditions,” said Jim Morrison, Vice President, Jeep Brand North America. “It’s a testament to our teams in the race and our engineering teams at home that this year Jeep Wrangler swept the podium, with two Wrangler 4xe SUVs placing first and second overall, as well taking the Bone Stock and electrified awards without a single issue the entire Rally. Congratulations to everyone who rallied this year.”

As the Jeep brand works toward its ultimate goal of zero-emission freedom, events like the Rebelle Rally are key to prove and showcase both its industry-best 4×4 capability, as well as its class-exclusive, off-road 4xe powertrain. The Jeep Wrangler 4xe delivers 49 MPGe and 21 miles of all-electric range with no range anxiety.

The Jeep Wrangler 4xe’s propulsion system combines two electric motors, a 2.0-liter I-4 engine and eight-speed automatic transmission for nearly silent propulsion and enhanced 4×4 off-road capability, without EV range anxiety. This arrangement enables the Trail Rated Jeep Wrangler 4xe to retain running gear that includes solid front and rear axles, full-time two-speed transfer case, a fully articulating suspension and 30 inches of water fording capability.

The E-Selec modes let the driver tailor the Jeep Wrangler 4xe propulsion to the trip: hybrid, electric and eSave, which conserves the battery pack charge for later use. The Wrangler 4xe’s 17-kilowatt-hour battery pack recharges in approximately two hours on Level 2 (220-volt) power and in about 12 hours on Level 1 (110-volt) household power.

The Rebelle Rally is the longest competitive off-road rally in the United States. Traversing over 2,500 kilometers through Nevada and California’s iconic terrain, it is an endurance competition for women consisting of precision driving and navigating – not fastest speed. The competition is innovative and unique, using maps, compass, roadbooks and strategy – known as Rebelle format. GPS and other electronic devices are strictly prohibited. Remote and off-grid for eight competition days, the Rebelle Rally is considered a proving ground for people, products and stock manufacturer vehicles. To learn more, visit www.rebellerally.com.  

Jeep Brand
Built on 80 years of legendary heritage, Jeep is the authentic SUV with capability, craftsmanship and versatility for people who seek extraordinary journeys. The Jeep brand delivers an open invitation to live life to the fullest by offering a full line of vehicles that continue to provide owners with a sense of security to handle any journey with confidence. Jeep Wave, a premium owner loyalty and customer care program that is available to the entire Jeep lineup, is filled with benefits and exclusive perks to deliver Jeep owners the utmost care and dedicated 24/7 support.

The Jeep vehicle lineup consists of the Cherokee, Compass, Gladiator, Grand Cherokee, Renegade and Wrangler. To meet consumer demand around the world, all Jeep models sold outside North America are available in both left- and right-hand drive configurations. Jeep is part of the portfolio of brands offered by leading global automaker and mobility provider Stellantis. For more information regarding Stellantis (NYSE: STLA), please visit www.stellantis.com.

Follow Jeep and company news and video on:
Company blog: http://blog.stellantisnorthamerica.com
Media website: http://media.stellantisnorthamerica.com
Jeep brand: www.jeep.com
Facebook: www.facebook.com/jeep 
Instagram: www.instagram.com/jeep 
Twitter: www.twitter.com/jeep
YouTube: www.youtube.com/thejeepchannel or https://www.youtube.com/StellantisNA

 

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SOURCE Stellantis

Hygienix Innovation Award Finalist: Glatfelter’s GlatPure™ Back Sheet

CHARLOTTE, N.C., Oct. 19, 2021 (GLOBE NEWSWIRE) — Glatfelter Corporation (NYSE: GLT), a leading global supplier of engineered materials, has been nominated as a top three finalist for the 2021 Hygienix Innovation Award for its sustainable, cellulose-based GlatPure™ back sheet used in Hygiene products. This award promotes innovation within the disposable absorbent hygiene market.

“We are committed to offering our customers materials that are unique in terms of performance, comfort, and raw material composition, and can be responsibly disposed at end-of-life.” said Chris Astley, Senior Vice President and Chief Commercial Officer. “We are proud to be nominated for this prestigious award.”

GlatPure™ is the first breathable, functional, non-leak barrier sheet available on the market that uses cellulose-based fibers and is compliant with the European Single-Use Plastics Directive. Our state-of-the-art back sheet provides customers with a dependable and sustainable solution, while remaining durable, soft, and breathable.

GlatPure™ offers reliable converting and is designed to be combined with Glatfelter’s high-performing absorbent cores and acquisition and distribution layers. Glatfelter will be presenting its innovations at Hygienix, a premier event for absorbent hygiene and personal care markets which is being held November 15-18, 2021 in Scottsdale, AZ.

About Glatfelter

Glatfelter is a leading global supplier of engineered materials. The Company’s high-quality, innovative, and customizable solutions are found in tea and single-serve coffee filtration, personal hygiene, and packaging products as well as home improvement and industrial applications. Headquartered in Charlotte, North Carolina, the Company’s annualized net sales approximate $1 billion with customers in over 100 countries and approximately 2,550 employees worldwide. Operations include twelve manufacturing facilities located in the United States, Canada, Germany, France, the United Kingdom and the Philippines. Additional information about the Company may be found at www.glatfelter.com.

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