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Our Slovakia plant is now approximately at 40% capacity.

We look forward to our partnership with Stellantis going forward.

So our focus remains on operational performance and with punctuality levels increasing by 3% year-on-year.

But the gross margin in the second half, even though it's going down, will stay well within our targeted range.

We made an $83 million bulk payment due on our loans and borrowings on May 2, 2011, and we expect to close this sales transaction on Entrec shortly, which will increase cash by approximately $28 million.

And so in Q3 or in any future quarter, it's quite possible that even if the market is strong that we all of a sudden see a pretty significant pickup in our net deployment just because there were some unique situations that were able to identify or create that just happened to match up with a particular quarter.

Our Cody James and Shyanne brands cover both boots and apparel, and target the men's Western and ladies Western customer, respectively.

So it's according to plan.And if we then look at what we're actually doing, and if I'm going to try to explain, we're focusing on the digital developments and digital availability, accessibility for our customers.

For the 12 months ended 31st of December, we anticipate the following financial results: revenues in the range of $1.656 billion to $1.676 billion; an effective tax rate of approximately 25%; fully diluted share count of approximately 42.3 million; diluted earnings per share of approximately $1.73 to $1.86; and non-GAAP diluted earnings per share in the range of $2.18 to $2.31; and capital expenditures in the range of $45 million to $50 million.

The largest of our selective project, it is designed to drastically reduce the output of fuel oil and increase the yield of light products.

And I believe that in terms of our inventory levels, we have many divisions that are leaner than other divisions, so that we think we have some still improvements to be made there.

Here, we expect to spend between ZAR 500 million to ZAR 1 billion in financial year '23 with peak spend forecast for financial years '25 to '27.

These results were ahead of expectations set out on our last earnings call for volumes at the midpoint of our second and third quarter volumes, which was around 1.7 million short tons.

With established policy teams in place, we believe we are well positioned to engage with government agencies to inform public investment, including grants, tenders and rebate programs and enable our customers to take advantage of these opportunities.

We're pleased to see that industrial customers with mission-critical applications, including aerospace and healthcare customers, began to resume their planned purchasing during the quarter.

These clusters require a staggering amount of high-bandwidth connectivity, all of which needs to be provided at ultra-low latency and high reliability and within a reasonable power outlook.

Financing cross-border trade, insurance, real estate, warehousing and indeed El Paso provides lots of these real estate services on the Mexican side as well, in terms of warehousing and plant location.

We estimate that our second quarter 2016 income from operations will be impacted by lost production, associated cost from this project and other turnaround activity of approximately $35 million.

The rental and utility costs together represent about 29% to 30% I believe in operated hotel revenues.

Investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of Marfrig and could cause results to differ materially from those expressed in such forward-looking statements.

We look forward to talking about our third quarter earnings in November.

And your plans to, A, invest there and B, to be selling processed products down the distribution channel that you now have there?

The lower incentive accruals were partially offset by the true-up of certain other year-end accruals, associated with updated valuations and accounting estimates.

This type of work is a great example of U.S.-based services that we believe will remain onshore regardless of the economic environment.

With regards to 4G, our current view is that, let's say, even if 4G is going to be licensed soon, that on a very short term, there's not going to require a very significant amount of CapEx.

And although only 2 quarters into a 3-year plan, I'm pleased to demonstrate progress in all 5 actionable components.

And so we're now, as soon as those contracts are inked, you'll then have 25 years.

And we expect a lot of the business would be done at MDA in Canada as well.

Looking 3 years ahead from now, we strive for a free cash of at least EUR 1 billion based on a comprehensive plan with well-defined targets across all business areas.

And just on the water handling project that you're undertaking.

Now if the question is specifically around sort of our ability to predict the performance -- our performance in the cloud provider vertical itself, I think any 1 quarter -- a quarter here and there, you're going to see lumpiness, you're going to see variations in the performance just based on their appetite to spend and the -- where they are in certain projects and certain deployments.

We would be focused on high-performance, high-efficiency wafers and we will be target high-end customers.

Together, these investments are expected to generate meaningful EBITDA into 2020.

Our goal is to uncover efficiencies without impacting important growth investments and commitments to Cerner clients.

We anticipate that our full year 2018 cash investment will be in the range of approximately $300 million to $320 million.

We expect our 2017 ROIC to exceed our projected 9.5% weighted average cost of capital by 35% to 45%, demonstrating the value we're creating through our consumer innovation strategy.

And how it might relate to your plans to grow the business?

We like our chances, and we're expecting to retain that customer.

And how is that impacting your outlook for SG&A spending this year?

Well, what I hope I said was that Export Coal pricing, we think for the full year, is going to be flat.

We remain confident in our capital structure as it gives us the flexibility to accommodate all aspects of our capital allocation strategy, which includes investing in our business to drive future growth, a strong dividend and share repurchases.

We spent probably [ 10-foot ] This is, I would say, the majority of the discussions we've had at the Board level is that over the past several years, we've been good forecasters internally of our business.

In terms of EBITDA, the company policy really isn't to forecast out or provide guidance to EBITDA.

Based on our current view of sales activities, our ability to implement our products, the low churn rates we have experienced to date and our cost reduction efforts, we believe we have sufficient cash to carry us into 2022.

And so as soon as trading restrictions lift, we'll quickly return to our margin improvement initiatives.

We are still awaiting the assessments of those tax rulings, but the provision stands.

And it is also important to realize that there was some kind of additional we would believe that had no value claims by MEI in addition to the $53 million that we felt had no values maybe up to $100 million, but we never really gave them any weight in our assessment.

And in terms of the interest expenses, how do you expect that to move in the next 2 years?

The above outlook is based on current market conditions and reflects the company's preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

I think it isn't the volatility, it’s the absolute prices and with Brent as high as it's been and Brazil having it as basically a country wide goal to develop, I think we are quite comfortable that those development plans won't be interrupted unless there was a steep drop in oil prices.

But you're right, September is out there and for me to comment on September is too far out there versus kind of the business outlook.

We'll continue to focus on executing our capital and operating investment strategy, mindful of our goal of protecting our working capital and cash position.

However, looking at the spot rate of our loan portfolio at December 31 of 3.99%, we also expect that loan prepayment activity will remain brisk given the current and continued low interest rate environment.

He will visualize the future for all of us and the COO, Upstream, in charge of exploration and engineering operations, technology, new S-Curve opportunities as well as CFO, who is in charge of finance, money accounting and all things that result from our operations.

It's not smaller than necessarily a Phase III project.

And are you still confident that the project is not really going to impact production rates and the mine plan at Aitik, including the Liikavaara pits?

We expect all these merchandise areas to continue their strong performances into the back half of the year.

Earlier this year, we won a deal to supply 3 large steam turbine driven compressors for an ethylene production plant in North America.

When the debt fully amortizes by 2023, about reissuing debt, upstreaming some of that cash to the parent using that cash for incremental renewable growth.

Quoting activity continues to be robust with customers expressing interest in capacity at both tower plants.

In conversations with clients and prospects alike, we're getting validation that our value proposition and capabilities are addressing a fundamental need as companies are struggling to adapt to new and different customer requirements in a digital and cloud era.

And the business is now expected to go on a trajectory that we've always envisaged in terms of moving forward to work up towards, beyond breakeven.

But with that said, when you look at -- and the number that we've been clear that we are comparing against is adjusted for working capital financing, which is that I believe, the $216 million number that we have on the slide for year-to-date.

Additionally, the downtime with that lease is, I would project, at 6 to 7 months.

Is there any sort of incremental EBITDA you're expecting out of that relationship that you can comment on at this time?

In terms of operational as well as the financial parameters that what are that have gone by in line with what expectations that we had set for ourselves at the beginning of the quarter, has been quite good operationally.

Our balance sheet remains solid, with a net debt-to-total capital ratio of about 28% and available liquidity of about $9 billion.

My second question is given your China business is [indiscernible] scale, what kind of long-term expense ratio expectations do you have for your China business longer term?

We expect to have this pipeline expansion in service in 2017.

The 2 decline projects, 11C and 14D continue their build up to full production as per schedule.

We won't lose sight of that, and it's generating a lot of cash and it's fueling the investment that we can make for our future.

I think that you're going to see currency hedging as a category continue to perform very well in the coming years as more and more advisers are cognizant of the currency risk in their unhedged equity exposures.

The position of intangible assets remains stable because the positions, customer relationship and trademarks from the purchase price allocation are almost written off.

We had a lower tax rate than expected so our EPS was actually slightly ahead of the market at $0.07 on an underlying basis.

Moving forward, we expect many of these headwinds to continue well into fiscal 2023 until longer-than-usual transit times, backlogs and congestion find balance, associated freight and logistics costs normalize and inbound shipping delays subside.

In terms of what we do expect, the market to remain uncertain and of course, we are working with measure that goes from leveraging our Asia supply chain and to responding to price pressure to optimization of our supply chain and synergy with the suppliers that will allow us to manage the situation.

However, the core of this corporate value, the nonfinancial financial capital is, we believe, resided -- staying in the portfolio for the neurology and oncology, which is a summation of the intellectual and human capital.

Let me now turn to Slide 17 for an update to our outlook, including key financial metrics and assumptions for fourth quarter.

And in 2023, we target to reduce the inventory significantly.

First and foremost, I accepted this job because I believe in the market opportunity and the position Odyssey semiconductor holds to deliver value both to customers and to our shareholders.

How do you expect to divide that responsibilities along the way, given that you both have development, leasing and management capabilities, I’m just trying to get a sense of how the partnership will work from logistical standpoint?

I would be interested to know how you think about the 6% to 8% ROE target longer term?

With the curve coming down, the conversations with 40 some odd producers I guess continuing, should we think about these as more incremental projects or do you still see sort of more Laurel Mountain-ish type of potential, singular, large scale projects that may come over the end zone some time in 2011 for instance?

As our results demonstrate, we continue to take action to meet our financial objectives and execute on our growth strategy.

So I would expect that stock repurchases perhaps may not be as strong in the next couple of quarters as they were in the last half of this past year.

Our commentary around Iowa has been that we don't have that forecasted or projected to be a contributor to earnings in the first 6 months of operation for this year.

Can you walk us -- maybe give us a sense of the 2021 goal for proprietary product revenue in the path from the $45 million in '16 to the path in 2021?

The capital costs are estimated at $850 million, which essentially for mine equipment and preproduction stripping.

We have a high utilization model in terms of how we fly the airplanes, and so we have to perform well in the peak.

And I would like to know also what part of sales we can include in our 2020 growth estimates?

Chemed currently has $63.8 million of authorization remaining under this share repurchase plan.

The midpoint of the outlook implies an adjusted EBITDA margin of 34% for 2018, which is an impressive increase of 500 basis points compared to 2017.

We hope to share our plans with investors later this year.

So where we show the range is out to 2023, those do not include any estimates for relicensing or, for that matter, also does not include any of the construction costs related to our Boardman to Hemingway Transmission Line where we also continue to see ongoing successes in attaining milestones and just as it relates Boardman to Hemingway, you didn't ask about that, but we do expect a decision -- or some information coming out of Oregon this year, which we think -- that we know today should be positive and so that's another piece of information to kind of focus on as you look forward as to what our capital costs will be looking at going forward.

However, the Sanlam Group intends to continue with the strategic development of our business and the group, despite this uncertain environment, are maintaining a very disciplined operational focus.

The other question here is about the partnership with [indiscernible] and lot expected [indiscernible] we all very large companies with thousands of people and it takes time to be able to introduce a new product in their product range.

But at this moment, I don't see we will change in foreseeable future, we'll change this -- the dividend policy and there.

The increase in operating expense dollars and as a percentage of net sales for the quarter was mainly due to higher consulting and professional fees associated with our lean and management consultants and SAP implementation project.

Is that -- so you talked about weakness in the category or have you lost some private label business, perhaps even intentionally.

And what are the planned investments to realize this project?