Pace Plc Share Discussion Threads

[freddie01] 06/3/2017 09:20

The Department of Astonishing Optical Illusions loves these clever photos taken by Egyptian photographer Amr Elshamy, who captures stunning wildlife shots using careful lighting, photo sets he built himself, and realistic toy animals.

”One of my dreams to travel the world with my camera, take photos of wildlife animals and under the sea creatures, swimming with whales, dolphins, etc, like National Geographic photographer, so was the purpose of this project to create my own wildlife photography using some animals and sea creatures models in my room studio, until I’m able to do the real thing.”

[alexmcdonald] 05/3/2017 23:10

Back to the UK tomorrow morning then a long drive to Scotland. This has been a fabulous cruise and I would highly recommend it for next year. We saw the Northern lights on 2 consecutive nights. The snow in Norway is pretty good too.
The only negative since we were away is the Arris share price, which should recover in a few months. I wish they paid dividends!!

[freddie01] 05/3/2017 10:46

Catching Light by Satie Sharma on 500px ~ Ladakh, India





Thunderstorm photographed over the Pacific Ocean at night. The photographer and pilot, Santiago Borja, says he was circling around it at 37,000 feet altitude en route to South America when he captured this spectacular view.






The Moeraki boulders present a curious spectacle for inhabitants and tourists alike. Stretched across the sands of Koekohe Beach on the New Zealand coast, they stand isolated and sometimes scattered in clusters. It is believed that they are formed by wave erosion on local mudstone, honing them into a spherical shape.

Local Maori legend posits that stones are the remnants of eel baskets, water gourds, and kumara that washed ashore when Araiteuru - the canoe that originally bore the Maori ancestors to New Zealand - was overturned.

[freddie01] 04/3/2017 08:52

A River Runs

[waggle] 03/3/2017 14:56

so where does this find support, or are we in the hands of the shorters...again

[freddie01] 03/3/2017 08:12

The weight of all the snow in Kyoto was enough to break the nose of this Tengu—but don’t worry it’s fixed!

[freddie01] 02/3/2017 08:29

Kayashima: The Japanese Train Station Built Around a 700-Year-Old Tree

[freddie01] 02/3/2017 08:27

LAKE BLED, Slovenia - After several years, the surface of the Bled lake has frozen again and there are more and more locals who enjoy the rare opportunity of walking across the frozen lake to the picturesque island with a church in the middle.
Image by Franci Ferjan



Cars parked up in the parc ferme prior to the 12th Monte Carlo Historical Rally on in Monte Carlo, Monaco.









As part of a solution to make China more efficient, streamlined, and combat the country’s overpopulation, a company has designed - and is now testing the prototype for - a futuristic suspended bus that can drive over top of traffic and pedestrians. It straddles the cars below, allowing them to pass through as it drives or stops to pick people up. The vehicle runs on a railway and is expected to be able to reach speeds up to 60 km (37 miles) per hour.





Panorama of Coimbra across Mondego River
Coimbra, Portugal

[1gw] 02/3/2017 06:55

Arris 10-K has been published and is available through the main Arris investor page or the SEC filings page.

The details of the 10%+ revenue customers in 2016 are given as:

24% Comcast
16% Charter
13% AT&T

[1gw] 01/3/2017 15:42

A good chance tonight for Bruce McC to comment on the market reaction to the recent results.

I think I might wait for the replay on this occasion.

[freddie01] 28/2/2017 08:42

Aurora Borealis over Iceland



Portal ~ David Young



Marsh Lake in Infrared by Bill Gracey on Flickr.



Royal Azaleas on Mt. Hwangmaesan in South Korea



Vernazza, Cinque Terre, Italy



Milky Way over Spencer Bay, Moosehead Lake, Maine

[laugher] 27/2/2017 20:21

I think that should help. I did wonder when it was delayed whether it would hit 1Q forecasts. Perhaps they'll now have a boost in 2Q? We can but hope! ;o)

[mbhesms] 26/2/2017 13:40

Title: What is an STB?

Link:

Summary: The key features of an STB (receive-, decode-, render-video, UX, DVR/VOD) can now be done by a plethora of consumer devices (TV stick, smartphone, computer, games-machine).

Commentary: There is a more interesting discussion worth reading in the comments section below the article. I think the article lacks a discussion on the importance of interfaces and networks: e.g. all the consumer devices above depend on an IP network, either WiFi, Ethernet or 4G so you still need something if your content is being delivered by IP or MPEG over cable, satellite, DVB-T, or other networks. Another differentiation for an STB has been the effect of smuggling technology into the home to enhance or enable system performance, e.g. more CPU -> better UX, content security features -> HD content available from Disney, etc.

[freddie01] 26/2/2017 10:15

Earth’s South Pole.



Early flight over Mordor



The Bled Castle ~ by Beno Saradzic



“Always Whiter On The Other Side Of The Fence”
Wisconsin Horizons By Phil Koch.



Mt. Kirkjufell at dawn



last natural light refraction through ice

by Denny Bitte

[1gw] 25/2/2017 18:08

Yes, I think you're right. Looking at the transcript again it does look like something yet to hit.

So if they're guiding to 100-200bps on the last 3 quarters (rather than something equivalent to 100-200bps on the full year), then I agree the analyst estimates seem to be building in flat revenues on 2016 2Q-4Q and virtually all of the 150bps mid-point margin compression. And not building in anything for the possible growth referred to.

[andyble] 25/2/2017 17:11

Clutching at straws here perhaps "but we may have some as we continue into the year" might suggest they see it coming and yet to kick in.

[1gw] 25/2/2017 16:20

Andbyle - I got to a similar place on the 2017 estimates (although perhaps with about 100bps of reduction built in rather than 150bps) which is why I am comfortable having bought more, although obviously the share price could do anything in the near term.

What's curious though is that if I apply the same analysis just to 1Q17, using a 150bps (i.e. midpoint) reduction in GM and trying to calculate the reduction in eps vs the 1Q16 guidance Arris gave last year I get an expectation of a 21c reduction in adjusted earnings for the quarter. Whereas in fact they are guiding to almost flat compared to the guidance a year ago (i.e. 36c to 40c adjusted earnings in 1Q17 vs their guidance last year of 37c to 42c in 1Q16).

To be clear:
$1560-1610 revenue guidance for 1Q16 (given with 2015 full year results)
$1435-1485 guidance for 1Q17
$125m reduction in guided revenue
$31m reduction in GM due to revenue shortfall (25% GM x $125m)
$22m reduction in GM due to 150bp reduction in GM (0.015x$1460m)
$53m total reduction in GM
$40m reduction in adjusted earnings (assume 25% non-GAAP tax rate)
$21c reduction in non-GAAP eps (192m shares)

So if that is right, are they saying the gross margin reduction only kicks in from 2Q? Or perhaps are there other things happening in 1Q to hide the GM pressure? I guess 1Q16 was atypical because of the timing of the acquisition so there may have been additional costs in 1Q16 that fed into non-GAAP earnings but which are not going to be in 1Q17 non-GAAP earnings (staff and product lines now redundant for example).

[fefebofespa] 25/2/2017 14:48

Let's invest in Brazil ... PBR Petrobras KKK

[andyble] 25/2/2017 11:42

I have just read the transcript again and am concluding that the feelings about margin pressures have been rather overblown. The eps forecasts seem to assume 150bps off for this, whilst after the first throwaway comment about that I felt they tried to repeatedly step that back to cautionary rather than likely. The share price has almost one for one mapped this margin pressure which feels overharsh. As to impressions about the acquisition, I read more into Arris' excitement and detailed perspective than some of the comments from elsewhere, so I am buying into the rationale and prospects, it feels good and meaningful earnings plus. In conclusion this feels like a cyclogenesis in a teacup which will blow away and so this year should be about beats.