*-- Record Quarterly Revenues Increased 18% on Continued Strong Towable Segment Growth --*
*-- Record Quarterly Diluted EPS of $1.02, Up 67% Over Prior Year --*
*-- Gross Margins Increased 30 Basis Points Over Prior Year --*

FOREST CITY, Iowa, June 20, 2018 (GLOBE NEWSWIRE) -- Winnebago Industries, Inc. (NYSE:WGO), a leading outdoor lifestyle product manufacturer, today reported financial results for the Company's third quarter of Fiscal 2018.

Third Quarter Fiscal 2018 Results
Revenues for the Fiscal 2018 third quarter ended May 26, 2018, were $562.3 million, an increase of 18.0% compared to $476.4 million for the Fiscal 2017 period. Gross profit was $85.5 million, an increase of 20.8% compared to $70.8 million for the Fiscal 2017 period. Gross profit margin was 15.2% in the quarter, an increase of 30 basis points versus 14.9% last year, driven by the continuation of accelerated growth in the Towable segment. Operating income was $48.3 million for the quarter, an improvement of 38.5% compared to $34.9 million in the third quarter of last year. Fiscal 2018 third quarter net income was $32.5 million, an increase of 67.7% compared to $19.4 million in the same period last year. Earnings per diluted share were $1.02, an increase of 67.2% compared to earnings per diluted share of $0.61 in the same period last year. During the quarter, the Company utilized a portion of its tax reform benefit for employee bonuses and making a contribution to its foundation, leading to a one-time expense of $3.4 million, or $0.11 per share, net of tax. Consolidated Adjusted EBITDA was $53.4 million for the quarter, compared to $47.3 million last year, an increase of 12.7% driven by strong Towable segment revenue and profit growth.

President and Chief Executive Officer Michael Happe commented, “Winnebago Industries delivered strong top and bottom-line growth, margin expansion and market share gains in the quarter. New product performance, our evolving portfolio mix, and agility in managing cost pressures all contributed nicely to our third quarter results. The Towable segment saw strong organic top-line growth and increased profitability, in addition to delivering another period of retail market share expansion. Our strong performance to-date in Fiscal 2018 and confidence in our market share trends for Towable RVs is reflected in our capacity expansion efforts during the quarter, as we broke ground on our Winnebago-branded Towable expansion project and started up a new Grand Design RV production line. We look forward to having additional capacity to deliver more of the Towable products our customers love as well as to bring new innovative products to market. Our Motorized business also saw continued progress with adjusted EBITDA strengthening from our previous quarter, as multiple investments in the business start to generate the moderate improvement we anticipated. While inflationary pressures have been building and will continue to do so, our teams are working hard to mitigate these through numerous cost savings initiatives and select price increases where necessary. Our new product launches across both segments are performing well, driving healthy backlog increases, and we remain comfortable with our current dealer inventory levels which are supported by our strong retail performance and increases in market share.”

Mr. Happe added, “During the quarter, and as previously announced, we distributed a portion of our tax reform savings to our hardworking Winnebago Industries employees through one time bonus payments. Additionally, we made a meaningful donation to our Winnebago foundation which will help us, in the future, to give back to the communities in which we operate. As always, I want to thank all of our employees for their dedication and commitment to the future of Winnebago Industries.”

Motorized
In the third quarter, revenues for the Motorized segment were $249.2 million, up 3.1% from the previous year. Segment Adjusted EBITDA was $9.3 million, down 36.0% from the prior year. Adjusted EBITDA margin was 3.7%, a decrease of 230 basis points versus the same period last year, but an improvement of 170 basis points compared to 2.0% in the Second Quarter of Fiscal 2018. The margin impact of the one-time tax reform reinvestments mentioned earlier was dilutive to Adjusted EBITDA by 120 basis points in the quarter.  Backlog increased 31.4% over the prior year, reflecting the strength of our recently introduced products.

Towable
Revenues for the Towable segment were $313.0 million for the quarter, up 33.4% from the previous year, driven by strong organic growth across the Grand Design RV and Winnebago-branded product lines. Segment Adjusted EBITDA was $44.0 million, up 34.4% over the prior year. Adjusted EBITDA margin was 14.1%, an increase of 10 basis points, driven by higher volumes and a favorable product mix. The margin impact of the one-time tax reform investments mentioned earlier was dilutive to Adjusted EBITDA by 60 basis points in the quarter. Backlog remains strong, growing 15.1% and compared to a strong backlog in the prior year, while retail sales continue to yield market share gains by outpacing the industry for both brands.

Balance Sheet and Cash Flow
As of May 26, 2018, the Company had total outstanding debt of $251.8 million ($260.0 million of debt, net of debt issuance costs of $8.2 million) and working capital of $183.4 million. Cash flow from operations was $61.0 million for the nine months ended May 26, 2018.  The ratio of net debt to Adjusted EBITDA was 1.2x as of May 26, 2018.

Tax Reform Impact
The Company recorded a tax rate of 26.4% in the third quarter compared to a rate of 34.6% in the prior year. The reduction in the rate is related to the lower federal tax rate enacted in accordance with the Tax Cuts and Jobs Act.

Quarterly Cash Dividend
On May 23, 2018, the Company’s board of directors approved a quarterly cash dividend of $0.10 per share payable on July 5, 2018, to common stockholders of record at the close of business on June 20, 2018.

Mr. Happe continued, “As we enter the final quarter of Fiscal 2018, there is much to be excited about at Winnebago Industries even as we navigate several external pressures. As mentioned earlier, we experienced inflationary input cost pressures during our fiscal third quarter and we expect those pressures to continue into the fourth quarter.  As always, we will work closely with our supplier base, and internally on cost savings initiatives, to lessen the impacts on our dealer network and end customers of any necessary increases. In the quarter, we announced the launch of an all-electric, zero-emission commercial vehicle platform in conjunction with a strategic partnership with Motiv Power Systems, a U.S. market leader in medium-duty electric vehicle chassis. And earlier this month, but after the close of our fiscal third quarter, we announced our acquisition of Chris-Craft, an iconic marine brand and an industry leader in recreational boating. The addition of a premium marine brand aligns with our strategic initiative to expand the Winnebago Industries portfolio within the outdoor lifestyle market and provides a new revenue platform in an exciting marine market that will enable us to continue to drive improved profitability and shareholder value over the long term. Our improved RV portfolio and strategic investments continue to benefit the business as a whole, and we look forward to realizing the strategic and financial benefits of a broader, more balanced and diversified portfolio of products uniquely positioned across the outdoor lifestyle and leisure travel industries.”

Conference Call
Winnebago Industries, Inc. will conduct a conference call to discuss third quarter Fiscal 2018 results at 9:00 a.m. Central Time today. Members of the news media, investors and the general public are invited to access a live broadcast of the conference call via the Investor Relations page of the Company's website at http://investor.wgo.net. The event will be archived and available for replay for the next 90 days.

About Winnebago Industries
Winnebago Industries, Inc. is a leading U.S. manufacturer of outdoor lifestyle products under the Winnebago, Grand Design and Chris-Craft brands, which are used primarily in leisure travel and outdoor recreation activities. The Company builds quality motorhomes, travel trailers, fifth wheel products and boats. Winnebago Industries has multiple facilities in Iowa, Indiana, Oregon, Minnesota and Florida. The Company's common stock is listed on the New York and Chicago Stock Exchanges and traded under the symbol WGO. Options for the Company's common stock are traded on the Chicago Board Options Exchange. For access to Winnebago Industries' investor relations material or to add your name to an automatic email list for Company news releases, visit http://investor.wgo.net.

Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain. A number of factors could cause actual results to differ materially from these statements, including, but not limited to increases in interest rates, availability of credit, low consumer confidence, availability of labor, significant increase in repurchase obligations, inadequate liquidity or capital resources, availability and price of fuel, a slowdown in the economy, increased material and component costs, availability of chassis and other key component parts, sales order cancellations, slower than anticipated sales of new or existing products, new product introductions by competitors, the effect of global tensions, integration of operations relating to mergers and acquisitions activities, business interruptions, any unexpected expenses related to ERP, risks related to compliance with debt covenants and leverage ratios, and other factors. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company's filings with the Securities and Exchange Commission (SEC) over the last 12 months, copies of which are available from the SEC or from the Company upon request. The Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements contained in this release or to reflect any changes in the Company's expectations after the date of this release or any change in events, conditions or circumstances on which any statement is based, except as required by law.

 

 
*Winnebago Industries, Inc.*
*Condensed Consolidated Statements of Income (Unaudited)*
*(In thousands, except percent and per share data)*
 
    *Three Months Ended*
    *May 26, 2018*   *May 27, 2017*
Net revenues   $ 562,261     100.0 %   $ 476,364     100.0 %
Cost of goods sold   476,747     84.8 %   405,560     85.1 %
Gross profit   85,514     15.2 %   70,804     14.9 %
Operating expenses:                
Selling   13,100     2.3 %   10,141     2.1 %
General and administrative   21,404     3.8 %   15,194     3.2 %
Transaction costs   800     0.1 %   450     0.1 %
Amortization of intangible assets   1,933     0.3 %   10,159     2.1 %
Total SG&A   37,237     6.6 %   35,944     7.5 %
Operating income   48,277     8.6 %   34,860     7.3 %
Interest expense   4,172     0.7 %   5,265     1.1 %
Non-operating income   (100 )   — %   (54 )   — %
Income before income taxes   44,205     7.9 %   29,649     6.2 %
Provision for income taxes   11,684     2.1 %   10,258     2.2 %
Net income   $ 32,521     5.8 %   $ 19,391     4.1 %
Income per common share:                
Basic   $ 1.03         $ 0.61      
Diluted   $ 1.02         $ 0.61      
Weighted average common shares outstanding:                
Basic   31,582         31,587      
Diluted   31,753         31,691      

    *Nine Months Ended*
    *May 26, 2018*   *May 27, 2017*
Net revenues   $ 1,480,641     100.0 %   $ 1,092,183     100.0 %
Cost of goods sold   1,264,635     85.4 %   943,188     86.4 %
Gross profit   216,006     14.6 %   148,995     13.6 %
Operating expenses:                
Selling   37,443     2.5 %   25,564     2.3 %
General and administrative   57,088     3.9 %   37,640     3.4 %
Postretirement health care benefit income                  —     — %   (24,796 )   (2.3 )%
Transaction costs   850     0.1 %   6,374     0.6 %
Amortization of intangible assets   5,921     0.4 %   22,578     2.1 %
Total SG&A   101,302     6.8 %   67,360     6.2 %
Operating income   114,704     7.7 %   81,635     7.5 %
Interest expense   13,871     0.9 %   11,571     1.1 %
Non-operating income   (212 )   — %   (137 )   — %
Income before income taxes   101,045     6.8 %   70,201     6.4 %
Provision for taxes   28,478     1.9 %   23,794     2.2 %
Net income   $ 72,567     4.9 %   $ 46,407     4.2 %
Income per common share:                
Basic   $ 2.30         $ 1.53      
Diluted   $ 2.28         $ 1.52      
Weighted average common shares outstanding:                
Basic   31,617         30,333      
Diluted   31,825         30,448      

Percentages may not add due to rounding differences.

 

 
*Winnebago Industries, Inc.*
*Condensed Consolidated Balance Sheets (Unaudited)*
*(In thousands)*
 
    *May 26,
2018*   *Aug 26,
2017*
ASSETS        
Current assets:        
Cash and cash equivalents   $ 39,029     $ 35,945  
Receivables, net   148,948     124,539  
Inventories   177,378     142,265  
Prepaid expenses and other assets   8,408     11,388  
Total current assets   373,763     314,137  
Total property and equipment, net   82,481     71,560  
Other assets:        
Goodwill   244,684     242,728  
Other intangible assets, net   222,519     228,440  
Investment in life insurance   28,130     27,418  
Deferred income taxes   7,043     12,736  
Other assets   7,090     5,493  
Total assets   $ 965,710     $ 902,512  
         
LIABILITIES AND SHAREHOLDERS' EQUITY        
Current liabilities:        
Accounts payable   $ 88,397     $ 79,194  
Current maturities of long-term debt   —     2,850  
Income taxes payable   6,186     7,450  
Accrued expenses   95,823     77,664  
Total current liabilities   190,406     167,158  
Non-current liabilities:        
Long-term debt, less current maturities   251,798     271,726  
Unrecognized tax benefits   1,703     1,606  
Deferred compensation benefits, net of current portion   15,732     19,270  
Other   250     1,078  
Total non-current liabilities   269,483     293,680  
Shareholders' equity   505,821     441,674  
     Total liabilities and shareholders' equity   $ 965,710     $ 902,512  

 

 
*Winnebago Industries, Inc.*
*Condensed Consolidated Statements of Cash Flows (Unaudited)*
*(In thousands)*
 
    *Nine Months Ended*
    *May 26,
 2018*   *May 27,
 2017*
Operating activities:        
Net income   $ 72,567     $ 46,407  
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation   6,679     5,287  
Amortization of intangible assets   5,921     22,578  
Amortization of debt issuance costs   1,222     889  
LIFO expense   1,238     897  
Stock-based compensation   4,983     2,206  
Deferred income taxes   4,807     6,396  
Postretirement benefit income and deferred compensation expenses   852     (23,687 )
Other   (658 )   (946 )
Change in assets and liabilities:        
Inventories   (36,351 )   (7,497 )
Receivables, prepaid and other assets   (21,275 )   (21,336 )
Income taxes and unrecognized tax benefits   (1,081 )   5,806  
Accounts payable and accrued expenses   24,506     32,778  
Postretirement and deferred compensation benefits   (2,398 )   (2,428 )
Net cash provided by operating activities   61,012     67,350  
         
Investing activities:        
Purchases of property, plant and equipment   (18,123 )   (9,740 )
Proceeds from the sale of property   316     219  
Acquisition of business, net of cash acquired   —     (394,694 )
Other   (83 )   684  
Net cash used in investing activities   (17,890 )   (403,531 )
         
Financing activities:        
Payments for purchase of common stock   (6,481 )   (1,367 )
Payments of cash dividends   (9,557 )   (9,554 )
Payments of debt issuance costs   —     (11,020 )
Borrowings on credit facility   19,700     366,400  
Repayment of credit facility   (43,700 )   (69,400 )
Other   —     (92 )
Net cash (used in) provided by financing activities   (40,038 )   274,967  
         
Net increase (decrease) in cash and cash equivalents   3,084     (61,214 )
Cash and cash equivalents at beginning of period   35,945     85,583  
Cash and cash equivalents at end of period   $ 39,029     $ 24,369  
         
Supplemental cash flow disclosure:        
Income taxes paid, net   $ 24,833     $ 11,811  
Interest paid   $ 11,935     $ 7,288  
Non-cash transactions:        
Issuance of Winnebago common stock for acquisition of business   $ —     $ 124,066  
Capital expenditures in accounts payable   $ 607     $ 279  
Accrued dividend   $ —     $ 3,184  

 

 
*Winnebago Industries, Inc.*
*Supplemental Information by Reportable Segment (Unaudited) - Motorized*
*(In thousands, except unit data)*
 
    *Quarter Ended*    
    *May 26,
 2018* *% of Revenue*   *May 27,
 2017* *% of Revenue*   *Change*
Net revenues   $ 249,245       $ 241,670       $ 7,575   3.1 %
Adjusted EBITDA   9,319   3.7 %   14,567   6.0 %   (5,248 ) (36.0 )%
                   
*Unit deliveries*   *May 26,
 2018* *Product*
*Mix %^(1)*   *May 27,
 2017* *Product*
*Mix %^(1)*   *Change*
Class A   722   25.3 %   797   28.5 %   (75 ) (9.4 )%
Class B   606   21.2 %   471   16.9 %   135   28.7 %
Class C   1,528   53.5 %   1,524   54.6 %   4   0.3 %
Total motorhomes   2,856   100.0 %   2,792   100.0 %   64   2.3 %
                   
                   
    *Nine Months Ended*    
    *May 26,
 2018* *% of Revenue*   *May 27,
 2017* *% of Revenue*   *Change*
Net revenues   $ 641,602       $ 635,732       $ 5,870   0.9 %
Adjusted EBITDA   16,518   2.6 %   36,521   5.7 %   (20,003 ) (54.8 )%
                   
*Unit deliveries*   *May 26,
 2018* *Product*
*Mix %^(1)*   *May 27,
 2017* *Product*
*Mix %^(1)*   *Change*
Class A   2,326   32.8 %   2,263   32.8 %   63   2.8 %
Class B   1,387   19.6 %   1,148   16.6 %   239   20.8 %
Class C   3,372   47.6 %   3,488   50.6 %   (116 ) (3.3 )%
Total motorhomes   7,085   100.0 %   6,899   100.0 %   186   2.7 %
                   
                   
          *As Of*    
*Backlog*^(2)         *May 26,
 2018* *May 27,
 2017*   *Change*
Units         2,155   1,640     515   31.4 %
Dollars         $ 193,079   $ 141,998     $ 51,081   36.0 %
                   
*Dealer Inventory*                  
Units         4,750   4,670     80   1.7 %

(1) Percentages may not add due to rounding differences.
(2) We include in our backlog all accepted orders from dealers generally to be shipped within the next six months. Orders in backlog can be cancelled or postponed at the option of the dealer at any time without penalty and, therefore, backlog may not necessarily be an accurate measure of future sales.

 

 
*Winnebago Industries, Inc.*
*Supplemental Information by Reportable Segment (Unaudited) - Towable*
*(In thousands, except unit data)*
 
    *Quarter Ended*    
    *May 26,
 2018* *% of Revenue*   *May 27,
 2017* *% of Revenue*   *Change*
Net revenues   $ 313,016       $ 234,694       $ 78,322   33.4 %
Adjusted EBITDA   44,042   14.1 %   32,761   14.0 %   11,281   34.4 %
                   
*Unit deliveries*   *May 26,
 2018* *Product*
*Mix %^(1)*   *May 27,
 2017* *Product*
*Mix %^(1)*   *Change*
Travel trailer   6,063   62.1 %   4,359   58.5 %   1,704   39.1 %
Fifth wheel   3,703   37.9 %   3,092   41.5 %   611   19.8 %
Total towables   9,766   100.0 %   7,451   100.0 %   2,315   31.1 %
                   
                   
    *Nine Months Ended*    
    *May 26,
 2018* *% of Revenue*   *May 27,
 2017* *% of Revenue*   *Change*
Net revenues   $ 839,039       $ 456,451       $ 382,588   83.8 %
Adjusted EBITDA   111,636   13.3 %   54,557   12.0 %   57,079   104.6 %
                   
*Unit deliveries*   *May 26,
 2018* *Product*
*Mix %^(1)*   *May 27,
 2017* *Product*
*Mix %^(1)*   *Change*
Travel trailer   16,495   61.3 %   8,914   59.9 %   7,581   85.0 %
Fifth wheel   10,428   38.7 %   5,960   40.1 %   4,468   75.0 %
Total towables   26,923   100.0 %   14,874   100.0 %   12,049   81.0 %
                   
                   
          *As Of*    
*Backlog*^(2)         *May 26,
 2018* *May 27,
 2017*   *Change*
Units         9,968   8,657     1,311   15.1 %
Dollars         $ 313,513   $ 269,965     $ 43,548   16.1 %
                   
*Dealer Inventory*                  
Units         15,986   9,520     6,466   67.9 %

(1) Percentages may not add due to rounding differences.
(2) We include in our backlog all accepted orders from dealers generally to be shipped within the next six months. Orders in backlog can be cancelled or postponed at the option of the dealer at any time without penalty and, therefore, backlog may not necessarily be an accurate measure of future sales.

*Winnebago Industries, Inc.*
*Non-GAAP Reconciliation (Unaudited)*
*(In thousands)*

We have provided non-GAAP financial measures, which are not calculated or presented in accordance with GAAP, as information supplemental and in addition to the financial measures presented in the accompanying news release that are calculated and presented in accordance with GAAP. Such non-GAAP financial measures should not be considered superior to, as a substitute for, or as an alternative to, and should be considered in conjunction with, the GAAP financial measures presented in the news release. The non-GAAP financial measures in the accompanying news release may differ from similar measures used by other companies.

The following table reconciles net income to consolidated Adjusted EBITDA.

    *Quarter Ended*   *Nine Months Ended*
*(In thousands)*   *May 26,
 2018*   *May 27,
 2017*   *May 26,
 2018*   *May 27,
 2017*
Net income   $ 32,521     $ 19,391     $ 72,567     $ 46,407  
Interest expense   4,172     5,265     13,871     11,571  
Provision for income taxes   11,684     10,258     28,478     23,794  
Depreciation   2,351     1,859     6,679     5,287  
Amortization of intangible assets   1,933     10,159     5,921     22,578  
EBITDA   52,661     46,932     127,516     109,637  
Postretirement health care benefit income   —     —     —     (24,796 )
Transaction costs   800     450     850     6,374  
Non-operating income   (100 )   (54 )   (212 )   (137 )
Adjusted EBITDA   $ 53,361     $ 47,328     $ 128,154     $ 91,078  

We have provided non-GAAP performance measures of EBITDA and Adjusted EBITDA as a comparable measure to illustrate the effect of non-recurring transactions occurring during the quarter and improve comparability of our results from period to period. EBITDA is defined as net income before interest expense, provision for income taxes, and depreciation and amortization expense.  We believe EBITDA and Adjusted EBITDA provide meaningful supplemental information about our operating performance because each measure excludes amounts that we do not consider part of our core operating results when assessing our performance. These types of adjustments are also specified in the definition of certain measures required under the terms of our credit facility. Examples of items excluded from Adjusted EBITDA include the postretirement health care benefit income from terminating the plan and transaction costs related to our acquisition of Grand Design.

Management uses these non-GAAP financial measures (a) to evaluate our historical and prospective financial performance and trends as well as its performance relative to competitors and peers; (b) to measure operational profitability on a consistent basis; (c) in presentations to the members of our board of directors to enable our board of directors to have the same measurement basis of operating performance as is used by management in their assessments of performance and in forecasting and budgeting for our company; (d) to evaluate potential acquisitions; and, (e) to ensure compliance with covenants and restricted activities under the terms of our Credit Facility. We believe these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties to evaluate companies in our industry.

Contact: Steve Stuber - Investor Relations - 952-828-8461 - srstuber@wgo.net
Media Contact: Sam Jefson - Public Relations Specialist - 641-585-6803 - sjefson@wgo.net Reported by GlobeNewswire 8 hours ago.

Boaters can enjoy significantly higher data speeds and greater Internet range offshore than cellphones alone provide, in an all-in-one solution

MIDDLETOWN, R.I., June 20, 2018 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq:KVHI), a leading global satellite communications provider, is introducing the TracPhone^® LTE-1 marine communications system designed to provide Internet access in U.S. waters more than 20 miles offshore, with data download speeds up to 100 Mbps. The system, which utilizes LTE Advanced (LTE-A) cellular network technology, is compact and affordable enough for a vast array of small and mid-size recreational boats—including sailboats, center consoles, fishing boats, and more—that until now have had few options besides the boater’s own cellphone for accessing the Internet while on the water. With the TracPhone LTE-1, boaters can access the Internet at twice the range and up to 10 times the data speed of typical cellphone performance offshore, with connectivity for multiple onboard devices.

“We used the TracPhone LTE-1 on our 36 Invincible, Gaff Reflexes, for a saltwater fishing tournament, and we were far enough offshore to where we typically lose signal, but with the LTE-1 we never lost service,” says Kirk Beattie, owner of Preferred Marine Sales Group, in Pompano Beach, FL. “We were streaming music clearer than ever, and Wi-Fi-based telephone and email applications came through with no problem. KVH’s TracPhone LTE-1 is truly impressive equipment: The size is perfect, it can fit on any center console, and you can’t beat the performance and clarity.”

The TracPhone LTE-1 is designed to enable various applications for mobile connectivity, such as streaming HD videos and music; Wi-Fi-based voice, messaging, collaboration, and video applications; browsing the Internet; and posting on social media—all while offshore.

“We believe the TracPhone LTE-1 will be a game changer for boaters who want to stay connected with HD streaming, video chatting, and more,” says Martin Kits van Heyningen, KVH’s chief executive officer. “We’ve taken the same end-to-end approach we use with our satellite-based products to offer the best experience for our customers by providing everything they need—from hardware to airtime—to enjoy fast Internet access on the boat.”

A complete system, the TracPhone LTE-1 includes a high-gain dual antenna array, modem, GPS, and Wi-Fi router inside a 34 cm (13 in) diameter dome. A single cable connects the antenna to a belowdecks Power-over-Ethernet (PoE) injector to provide power to the system. The PoE can also be used to create a local area network (LAN) to facilitate faster data speeds; without the LAN, users can rely solely on the secure Wi-Fi router built into the dome to provide easy, convenient connectivity. The TracPhone LTE-1 uses cellular technology from two of the leading LTE carriers in the U.S., automatically switching between them to ensure the most seamless coverage available.

The TracPhone LTE-1 system is priced at $1,699 MSRP, with a flexible, month-to-month airtime plan providing 20 GB of data for $199 per month with no annual contract; the cost for additional data is $9.99 per gigabyte. The system is designed for use in U.S. waters only (including Hawaii and Alaska), and KVH is exploring expanding the product for use beyond U.S. waters in the future.

KVH is a mobile tech innovator that provides connectivity solutions for commercial maritime, leisure marine, and land mobile applications on vessels and vehicles, including the award-winning TracPhone and TracVision^® product lines, the global mini-VSAT Broadband[sm] network, and AgilePlans™ Connectivity as a Service (CaaS). The company’s Videotel™ business is a market-leading provider of training films, computer-based training, and eLearning for the maritime industry, and its KVH Media Group provides news, sports, and entertainment content with such brands as NEWSlink™ and SPORTSlink™.

For more information: Please visit the *KVH website*, kvh.com/LTE, for details about the TracPhone LTE-1, and follow KVH on *Facebook*, facebook.com/kvhindustries, and *Twitter*, twitter.com/kvh.

Note to editors: High-resolution images of KVH products are available at the *KVH Press Room Image Library*, kvh.com/Press-Room/Image-Library.

*About KVH Industries, Inc.*
KVH Industries, Inc., is a global leader in mobile connectivity and inertial navigation systems, innovating to enable a mobile world. A market leader in maritime VSAT, KVH designs, manufactures, and provides connectivity and content services globally. KVH is also a premier manufacturer of high-performance sensors and integrated inertial systems for defense and commercial applications. Founded in 1982, the company is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL, and more than a dozen offices around the globe.

This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding the expected competitive advantages of the LTE-1 system, expected data speeds over the cellular LTE networks for this system, expected benefits to KVH customers, expected pricing of the new product, and the expected level of coverage provided by LTE carriers. Actual results could differ materially from the forward-looking statements made in this press release. Factors that might cause these differences include, but are not limited to: unanticipated technical and other challenges that arise with LTE service providers; potential demand for data services beyond current expectations, which could exceed system capabilities in certain regions and reduce the attractiveness of the system; the potential introduction of competing systems, which could reduce demand for the LTE-1 system; potential insufficient demand at offered prices; unanticipated technical, legal, and regulatory delays with the LTE carriers, which are beyond KVH control; competition for cellular capacity, which over time could increase costs and decrease service availability; and unanticipated expenses. Other risk factors are discussed in more detail in KVH’s most recent Form
10-K filed with the Securities and Exchange Commission on March 2, 2018. Copies are available through its Investor Relations department and website, http://investors.kvh.com. KVH does not assume any obligation to update its forward-looking statements to reflect new information and developments.

KVH Industries, Inc. has used, registered, or applied to register its trademarks in the U.S.A. and other countries around the world, including but not limited to the following marks: KVH, TracPhone, TracVision, mini-VSAT Broadband, AgilePlans, Videotel, NEWSlink, and SPORTSlink. All other trademarks are the property of their respective companies.

*For further information, please contact:*
Jill Connors
Media Relations & Industry Analyst Manager
KVH Industries, Inc.
Tel: +1 401 851 3824
jconnors@kvh.com Reported by GlobeNewswire 8 hours ago.

Experts at the National Marine Aquarium in Plymouth believe a killer whale is patrolling off the Devon cost after it was filmed by a family who were out in their kayaks over the weekend. Reported by MailOnline 8 hours ago.

– John Farnam appointed to newly created position of Chief Operating Officer –– Bridget Martell, M.D., and Blake Tomkinson, Ph.D., join as Vice Presidents of Clinical Development –

– Registration-directed trial of tipifarnib in HRAS mutant head and neck squamous cell carcinomas (HNSCC) expected to initiate in second half of 2018 –

SAN DIEGO, June 20, 2018 (GLOBE NEWSWIRE) -- Kura Oncology, Inc. (Nasdaq:KURA), a clinical-stage biopharmaceutical company focused on the development of precision medicines for oncology, today announced the appointment of John Farnam to the newly created position of Chief Operating Officer, effective July 1, 2018. In addition, industry veterans Bridget Martell, M.A., M.D., and Blake Tomkinson, Ph.D., MBA, have joined the company as Vice Presidents of Clinical Development.

“This expansion of our leadership team comes at a key inflection point for Kura as we prepare for our first registration-directed trial,” said Troy Wilson, Ph.D., J.D., President and Chief Executive Officer of Kura Oncology. “John comes to us with core strengths in leadership, operations, personnel and program management, and his demonstrated ability to serve as ‘connective tissue’ will help to ensure that all functions at Kura are working together toward achieving our goals. We are also pleased to add Bridget and Blake as experienced, senior-level executives in clinical development at this important stage of our company, with upcoming milestones anticipated for all of our programs.”

Mr. Farnam has served as Vice President of Business Operations at Celgene Receptos since September 2015, where his responsibilities include clinical operations, quality assurance, finance, facilities and professional leadership development. Previously, Mr. Farnam served for 26 years as an officer in the Marine Corps, serving as an FA-18D Squadron Commanding Officer and as the Commanding Officer of Marine Corps Air Station Miramar, where he oversaw operations of the installation and its 2,500 personnel. He retired from the Marine Corps as a Colonel in 2015. Mr. Farnam earned his bachelor’s degree in criminal justice at San Diego State University and his master’s degree in national strategy from the National War College.

Dr. Martell joined Kura with more than 18 years of experience in clinical development, regulatory and medical affairs. She has served in leadership roles of increasing responsibility at Pfizer, Purdue Pharma and Juniper Pharmaceuticals, where she contributed to a number of product approvals. Dr. Martell earned her B.S. in microbiology from Cornell University, her M.A. in molecular immunology from Boston University and her M.D. from the Chicago Medical School. She completed her internship and residency in internal medicine and was an internal medicine chief resident and RWJ Faculty Clinical Scholar at Yale University. She is board certified in both internal and addiction medicine.

Dr. Tomkinson has more than 20 years of experience in the biotechnology and pharmaceutical industry, with research and clinical development experience in virology, immunology and oncology. Most recently, he served as program leader at EMD Serono after more than a decade in project direction and strategy and portfolio management for Sanofi. Dr. Tomkinson received his Ph.D. in Immunology from the University of Massachusetts Medical School and did his post-doctoral research in molecular biology at Brigham and Women’s Hospital and Harvard Medical School. He received his MBA from the University of Colorado, Denver.

*About AIM-HN*

Following a positive Phase 2 trial in HRAS mutant HNSCC and a successful end of Phase 2 meeting with the FDA, Kura is planning to conduct a global, registration-directed trial of its lead drug candidate tipifarnib in at least 59 recurrent or metastatic patients with HRAS mutant HNSCC, called the AIM-HN trial. The primary endpoint of the trial will be objective response rate. Based on feedback from the FDA, the company believes that the single-arm trial, if positive, could support an application for accelerated approval. Kura anticipates that AIM-HN will require fewer than 100 clinical sites worldwide and take approximately two years to enroll. The company expects to initiate the AIM-HN trial in the second half of 2018.

*About Kura Oncology*

Kura Oncology is a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer. The company’s pipeline consists of small molecule drug candidates that target cancer signaling pathways where there is a strong scientific and clinical rationale to improve outcomes by identifying those patients most likely to benefit from treatment. Kura lead drug candidate is tipifarnib, a farnesyl transferase inhibitor, which is currently being studied in multiple Phase 2 clinical trials in solid tumor and hematologic indications. Kura’s pipeline also includes KO-947, an ERK inhibitor, currently in a Phase 1 dose-escalation trial, and KO-539, a menin-MLL inhibitor, currently in preclinical development. For additional information about Kura Oncology, please visit the company’s website at www.kuraoncology.com.

*Forward-Looking Statements*

This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such forward-looking statements include statements regarding, among other things, the efficacy, safety and therapeutic potential of the company’s product candidates, including the lead product candidate tipifarnib, progress and expected timing of Kura Oncology’s drug development programs and clinical trials including the AIM-HN trial, plans regarding future clinical trials and development activities, and the regulatory approval path for tipifarnib. Factors that may cause actual results to differ materially include the risk that compounds that appeared promising in early research or clinical trials do not demonstrate safety and/or efficacy in later preclinical studies or clinical trials, the risk that Kura Oncology may not obtain approval to market its product candidates, uncertainties associated with performing clinical trials, regulatory filings and applications, risks associated with reliance on third parties to successfully conduct clinical trials, the risks associated with reliance on outside financing to meet capital requirements, and other risks associated with the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. You are urged to consider statements that include the words “may,” “will,” “would,” “could,” “should,” “believes,” “estimates,” “projects,” “promise,” “potential,” “expects,” “plans,” “anticipated,” “intends,” “continues,” “designed,” “goal,” or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties the company faces, please refer to the company's periodic and other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Such forward-looking statements are current only as of the date they are made, and Kura Oncology assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

*Contacts*

Company:
Pete De Spain
Vice President, Investor Relations &
Corporate Communications
(858) 500-8803
pete@kuraoncology.com

Investors:
Robert H. Uhl
Managing Director
Westwicke Partners, LLC
(858) 356-5932
robert.uhl@westwicke.com

Media:
Jason Spark
Managing Director
Canale Communications
(619) 849-6005
jason@canalecomm.com Reported by GlobeNewswire 7 hours ago.

UK defence giant BAE Systems has won a contract worth up to $1.2bn (£910m) to build US marine "ocean-capable" amphibious tanks.

BAE beat rival defence company Science Applications International Corp (SAIC) in the bid to become lead contractor.

An initial $198m contract to deliver 30 amphibious combat vehicles (ACVs) by next year has been signed, with another 208 ACVs potentially being built in a deal which would be worth $1.2bn.

*Read more*: BAE Systems picks up £2.4bn in MOD funding for nuclear submarines

The new tanks, which will be built to transport Marines from ship to shore under hostile conditions, will replace an older fleet of assault vehicles that have been in operation since 1972.

In a partnership with Italian company Iveco Defense Vehicles, BAE is scheduled to begin production later this year.

The competition to build the next generation of ACVs opened up in 2011, and SAIC said today that it was "disappointed" its vehicle was not selected.

*Read more*: Chemring nabs ex-Royal Navy officer from BAE Systems to take over top job

Dean Medland, vice president and general manager of Combat Vehicles Amphibious and International at BAE Systems, said: "We are well positioned and ready to build the future of amphibious fighting vehicles for the Marine Corps, having already produced 16 prototypes."

Medland added: "Through this award, we are proud to continue our partnership with the Marine Corps by providing a best-in-class vehicle to support its mission through mobility, survivability and lethality." Reported by City A.M. 7 hours ago.

Experts at the National Marine Aquarium in Plymouth believe a killer whale is patrolling off the Devon cost after it was filmed by a family who were out in their kayaks over the weekend. Reported by MailOnline 1 hour ago.

Design Features and New Capabilities Specifically Address Harsh Chemicals Required for Chemical Manufacturing & Downstream Refining Applications

ARVADA, Colo. (PRWEB) June 20, 2018

Sundyne, a global leader in the design and manufacture of pumps and compressors, today announced a series of enhancements to the ANSIMAG line pumps that are designed to meet and exceed all ASME/ANSI B73.3 and ISO 2858 chemical process pump standards.

Since 1985, more than 50,000 ANSIMAG sealless, non-metallic magnetic drive pumps have been deployed to successfully handle harsh and corrosive chemicals used in a variety of industries, such as:·     Chemical manufacturing (chlor-alkali/chlorine, sodium hydroxide);
·     Downstream refining (sour water, sulfuric acid);
·     Mining applications (cyanide, sulfuric Acid, hydrochloric Acid);
·     Agricultural applications (pesticides & insecticides);
·     Aquatic & marine applications (seawater);
·     and many others…

The new enhancements added to the line of ANSIMAG pumps improve reliability, enhance the pump’s ability to resist chemical attack, and simplify maintenance requirements. New enhancements and design features include:

Fully Encapsulated Mag Drive – this patented technology hermetically seals the inner magnets, isolating them from process fluid, which maintains magnet integrity for the life of the unit.

Fully Supported Impeller – prevents radial deflection when operating at low flow (or off BEP) conditions. This support increases the allowable operating range and reliability of the pump over cantilevered or overhung impeller designs.

Replaceable Impeller – a single piece replaceable impeller is attached to the inner magnet drive via ANSIMAG’s patented tongue and groove system. The separation provides a cost effective approach to warehouse spare parts management and re-rating operations.

Non-Metallic (CFR-ETFE) lined Containment Shell: This innovative rear casing generates zero hysteresis losses during operation, thus eliminating heat generation and reducing energy costs. With a burst pressure of 6X MAWP of the pump, the Kevlar fiber reinforced vinyl ester shell delivers unprecedented reliability, and makes ANSIMAG pumps more energy-efficient than mechanically sealed pumps.

Axial Thrust Washers - increase the allowable operating range over thrust balanced methods. This design increases the pump’s reliability through a positive thrust surface that is unaffected by cavitation, solids or transient suction conditions.

Simple Sealless Design – Consisting of only 9 wetted parts, ANSIMAG pumps can be quickly and easily repaired in the field. Routine maintenance or repairs can be performed without the need for special tools or training.

“The ANSIMAG sealless magnetic drive plastic lined pumps provide affordable replacement options for aging ASME/ANSI B73.3 and ISO 2858 sized pumps, because the line covers a wide range of sizes and standard external dimensions to facilitate replacements without changing piping or baseplates,” said Sundyne’s Chemical and Industrial Business Unit Leader Colin Guppy. “The enhancements we’ve delivered to the pump line increase reliability and provide unsurpassed resistance to chemical attack in a way that makes ANSIMAG pumps a preferred choice for chemical processing applications.”

For more information on ANSIMAG Pumps, please visit: http://www.sundyne.com.

About Sundyne:
Headquartered in Arvada, Colorado, Sundyne is a leading manufacturer of highly reliable and efficient centrifugal pumps and compressors for use in oil and gas production, refining, chemical, petro-chemical, power generation and water processing industries. Sundyne is the world leader in delivering low-flow, high-head integrally geared centrifugal pumps and compressors; as well as safe and efficient sealless magnetic drive pumps. Sundyne pumps and compressors meet stringent API and ISO standards. To learn more about the Sundyne family of precision engineered pumps and compressors, please visit http://www.sundyne.com. Sundyne is owned and operated by Accudyne Industries.

About Accudyne Industries:
Accudyne Industries is a global provider of precision-engineered flow control and compressor systems responsible for powering the world’s most economically vital industries. These process-critical machines deliver unflagging performance in incredibly demanding environments, giving confidence to the mission of their customers. Today, Accudyne is powered by more than 2,800 employees at 13 manufacturing facilities. For more information, visit http://www.accudyneindustries.com.

Contact:
Don Hawkinson
303-929-8156
don(at)hawk3i.com Reported by PRWeb 7 hours ago.

It has been spotted in Plymouth Sound and the unusual sighting has been identified by excited staff at the National Marine Aquarium Reported by West Briton 6 hours ago.

Based on the type of glass, the Fiberglass market is categorized into S-Glass, C-Glass, E-Glass, ECR-Glass, and several other types of glass. Among these, the E-glass and the S-glass segments, collectively held over 60% of the overall market

Albany, New York, June 20, 2018 (GLOBE NEWSWIRE) -- The global *Fiberglass Market* is anticipated to demonstrate a steady growth in the forthcoming year, as reported by Transparency Market Research (TMR). The market’s vendor landscape is features a handful number of prominent players driving the market. Vendors are forecasted to focus on adoption of advanced technology for development of high performing and high quality products, as demanded by consumers. Market participants are additionally seen investing heavily into the research and development of innovative products in order to enrich their product portfolio, and gain strategic advantage over their competitors. Key vendors operating in the global fiberglass market are Shandong Fiberglass Group Co. Ltd., Taishan Fiberglass Inc., Chongqing Polycomp International Corp., Zibo Zhuoyi Fiberglass Material Co. Ltd., and Owens Corning.

*Request A Sample Of Fiberglass Market: **https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1945*

In 2016, the global fiberglass market was estimated to stand at US$7.21 bn. With a steady 4.7% CAGR from 2017 to 2025, the duration of forecast, the market is envisaged to reach US$10.8.

Among the application segments, the automotive industry held more than 25% share of the market in 2016, and the trend is expected to percolate over the forecast duration. As the application segment finds exhaustive use in fiberglass, the automotive sector is predicted to retain its dominance over the coming years.

Among the geographical divisions, North America held a leading position in the global fiberglass market, with over 30% of the market share. The U.S. in North America is touted to be the key country acting as a driving force of this regional market, on account of the presence of established companies in the region.

*View in-depth table of contents for this report @ **https://www.transparencymarketresearch.com/report-toc/1945*

*High Adoption of Glass wool in Construction Activities to Propel Market*

Glass wool is predominantly used in applications of thermal and electrical insulation in the building and construction industry. Glass wool is applied on the attic of the structure which helps maintain as steady temperature inside the building. The market is expected to rise due to increased spending on infrastructure in both developed and developing countries. Additionally, new end use of fiberglass due to its intrinsic properties of lightweight and high strength are being discovered regularly. Fiberglass composites are extensively used in many building applications such as roofs, walls, panels, windows, and ladders. The rise in use of fiberglass in consumer durable products and electronics products is expected to further fuel the fiberglass market over the forecast period.

*Demand for Energy Conservation to Provide Rich Growth Opportunity*

As the significance of renewable energy is being identified across the globe, hefty investments are currently being made towards the installation of new wind turbines. In the residential construction segment for insulation, fiberglass is extensively used to maintain a consistent temperature, which resultantly allows improved comfort and air quality, curtails energy consumption, protects from fire and makes buildings sound proof. All these factors are providing an impetus to the growth of the global fiberglass market in the forthcoming years.

*Request For Multiple Chapters on Fiberglass Market: **https://www.transparencymarketresearch.com/sample/sample.php?flag=MC&rep_id=1945*

*High Demand from Automotive Sector to Stoke Sales*

The use of fiberglass in automobile manufacturing is surging on account of the emergence of stringent standards for emission set by regulatory authorities such as the U.S. EPA and EEA. With fiberglass becoming a key component used in body of vehicles, its demand is surging significantly all over the world. The brisk rise in the demand for new vehicles is additionally expected to aid the growth of this market over the forecast duration.

This review is based on TMR’s report titled, *“Fiberglass Market (By Glass Type - S-Glass, C-Glass, E-Glass, ECR-Glass, Others; Fiber Type - Rovings, Mats, Strands, Fabrics; Technology - Layup, Resin Infusion Molding, Injection Molding, Compression Molding, Filament Winding, Pultrusion, Others; Application - Automotive & Transportation, Aerospace & Defense, Wind Energy, Construction, Marine, Sports & Leisure, Pipe & Tank, Others; Region - North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”*

*Ask for Discount on Premium Research Report (US$ 5795) With Complete TOC:  **https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=1945*

*Top of Form*The market is segmented along the following lines:

*Global Fiberglass Market, By Glass Type*

· S-Glass
· C-Glass
· E-Glass
· ECR-Glass
· Others

*Global Fiberglass Market, By Fiber Type*

· Rovings
· Mats
· Strands
· Fabrics

*Global Fiberglass Market, By Technology*

· Layup
· Resin Infusion Molding
· Injection Molding
· Compression Molding
· Filament Winding
· Pultrusion
· Others

*Global Fiberglass Market, By Application*

· Automotive & Transportation
· Aerospace & Defense
· Wind Energy
· Construction
· Marine
· Sports & Leisure
· Pipe & Tank
· Others

*Browse Popular Research Reports by TMR:*

· *Carbon Fiber Market: **https://www.transparencymarketresearch.com/carbon-fiber-market.html*
· *Graphene Composites Market: **https://www.transparencymarketresearch.com/graphene-composites-market.html*

*About Us*

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

*Contact*

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Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Research Blog: https://cmfenews.com/ Reported by GlobeNewswire 6 hours ago.

NEW YORK, June 20, 2018 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP reminds investors of the important August 6, 2018 lead plaintiff deadline in the class action lawsuit against Aegean Marine Petroleum Network Inc. (“Aegean” or the “Company”) (NYSE:ANW). The lawsuit seeks to recover damages on behalf of those who purchased the securities of Aegean between April 28, 2016 and June 4, 2018, both dates inclusive (the “Class Period”).To join the Aegean class action, and/or if you have information relating to this matter, please visit our AEGEAN SHAREHOLDER PAGE or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com.

According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Aegean had improperly accounted for approximately $200 million of accounts receivable as of December 31, 2017; (2) Aegean failed to maintain effective internal control over financial reporting; and (3) as a result of the foregoing, Defendants’ statements about Aegean’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On June 4, 2018, during aftermarket hours, Aegean revealed “that approximately $200 million of accounts receivable owed to the Company at December 31, 2017 will need to be written off,” as “[t]he transactions that gave rise to the accounts receivable (“the Transactions”) may have been, in full or in part, without economic substance and improperly accounted for in contravention of the Company’s normal policies and procedures.” Aegean further revealed that “[a] number of individuals employed by the Company across multiple functions who are believed to have been involved in the Transactions have been terminated or placed on administrative leave pending the outcome of [an] investigation. The Company has reported its preliminary findings to the SEC and the Department of Justice and intends to cooperate with any resulting investigations.”

On this news, Aegean’s stock fell $2.18 per share, or over 75%, from its previous closing price to close at $0.70 per share on June 5, 2018, damaging investors.

If you wish to serve as lead plaintiff, you must move the Court no later than August 6, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

Please follow us for updates on LinkedIn: https://www.linkedin.com/company/bernstein-liebhard-llp/ and Twitter: https://twitter.com/bernlieb.

ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information

Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
dsadeh@bernlieb.com Reported by GlobeNewswire 5 hours ago.

*METTAWA, Ill. June 20, 2018 - *Forbes Magazine has named Brunswick Corporation (NYSE: BC) among its 500 Best Mid-Sized Employers for 2018.  The Company is ranked No. 168 on the list announced recently by Forbes in partnership with Statista.com.

Brunswick, which was founded nearly 175 years ago, is a leading manufacturer of marine engines, pleasure boats and fitness equipment.  Some of Brunswick's leading brands include Mercury Marine, Boston Whaler, Lund Boats and Life Fitness.  The Company, which had total net sales of $4.5 billion in 2017, has approximately 15,000 employees around the world.

Determined by an anonymous survey of over 30,000 employees at companies with at least 1,000 people (including their subsidiaries), the Forbes list of America's Best Employers identifies companies that employees like to work for and would recommend to others. Brunswick's inclusion on the list distinguishes it from its competitors and recognizes Brunswick employees' dedication to the Company's success.

Brunswick's commitment to its employees is being recognized elsewhere, too, having recently received the 2018 Limelight Award for its Be Your Best well-being program, as well as one of the "Best in Class 401(k) Plans" by PLANSPONSOR. "We are honored and proud to be recognized by Forbes as one of the best employers in the country," said Brunswick Chairman and Chief Executive Officer Mark Schwabero.  "Our dedication to excellence in business, community and family makes Brunswick a supportive and rewarding place to work.  More specifically, we foster a Company culture that our employees truly believe in and offer diverse opportunities for our employees to succeed both personally and professionally.  With this recognition, we celebrate the incredible achievements of our employees, who work hard every day to serve our customers and deliver the best results."

*About Brunswick*
Headquartered in Mettawa, Ill., Brunswick Corporation's  leading consumer brands include Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood, Garelick, Mercury, Quicksilver and Whale marine parts and accessories; Land 'N' Sea, Kellogg Marine, Lankhorst Taselaar, Payne's Marine and BLA parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group  and SCIFIT fitness equipment; and Brunswick billiards tables, accessories and game room furniture. For more information, visit http://www.brunswick.com.

Contact:   Daniel Kubera
    Director - Media Relations and Corporate Communications
Phone:   847-735-4617
Email:    daniel.kubera@brunswick.com Reported by GlobeNewswire 5 hours ago.

Tucked away in the warm waters of the Gulf of Mexico, the world's first known nursery for baby manta rays has been discovered amid the shallow reefs. And marine scientists are excited. Reported by FOXNews.com 4 hours ago.

Reported by SeekingAlpha 5 hours ago.

Scientists published the first hearing tests on a wild population of healthy marine mammals. The tests on beluga whales in Bristol Bay, Alaska, revealed that the whales have sensitive hearing abilities and the number of animals that experienced extensive hearing losses was far less than what scientists had anticipated. Reported by Science Daily 2 hours ago.

KEMP, Texas, June 20, 2018 (GLOBE NEWSWIRE) -- Larson Electronics, an establishment located in Texas with extensive experience as a manufacturer of industrial lighting systems and power distribution stations, announced the release of a powerful explosion proof LED light tower for combustible environments and ATEX/IECEx rated locations. The quadpod light mast can be extended up to 12 feet for elevated illumination and retracted to seven feet for seamless storage or transportation.The EPLX-QP-120W-1XRD3-TRC-100 is designed for wide-area illumination in rugged work sites and locations where volatile (flammable) substances are present. The 120-watt LED light head utilizes AC LEDs, coupled with a robust heat sink, resulting in improved thermal performance and superior illumination. During use, the LED lamp provides up to 12,600 lumens of output with a 110-degree flood beam configuration. This factory sealed unit is compatible with Lutron CL Series dimmers, such as: Diva® CL® dimmer, Ariadni®/Toggler® CL® dimmer, Luméa® CL® dimmer, Maestro® CL® dimmer and Skylark® CL® dimmer. Color temperature variants include 5000K (cool white) or 3000K (warm white).

Connection to power sources is facilitated by a 10-foot 16/3 SOOW cord. The explosion proof LED light tower is offered in the following voltages: 120V, 208V, 220V, 240V and 277V. A compatible cord cap is provided with the lighting system for seamless electrical connections. This NEMA-rated light is protected by a tempered glass lens.

The quadpod light mast is made out of non-sparking aluminum, which reduces risks related to accidental ignition in the hazardous location. The powder-coated surface ensures durability against corrosion, debris and moisture. For transportation around the facility, operators are provided access to two rubber wheels. The quadpod features a stable foundation with four legs in an ‘X’ configuration.

The EPLX-QP-120W-1XRD3-TRC-100 is ideal for high-heat environments, with temperatures ranging between -60°C and +100°C. Applications for the explosion proof LED light tower includes: oil refineries, manufacturing, paint spray booths, chemical processing plants, aviation, aerospace, automotive and more.

*About Larson Electronics LLC:* Larson Electronics LLC is a manufacturer of industrial lighting equipment and accessories. The company offers an extensive catalog of industry-grade lighting and power distribution products for the following sectors: manufacturing, construction, food processing, oil and gas, military, marine and automobile. Customers can benefit from the company’s hands-on, customized approach to lighting solutions. Larson Electronics provides expedited service for quotes, customer support and shipments.

*For further information, please contact:*
Rob Bresnahan, *President and CEO
*Toll-free: 1-800-369-6671
Phone: 214-616-6180
Fax: 903-498-3364
E-mail: sales@larsonelectronics.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/d31c559b-3e24-45a7-9dff-a7cf693a6295 Reported by GlobeNewswire 4 hours ago.

Kurt Hughes has created his 250-square-foot fixed home on the banks of Washington's Columbia River. He wanted to take his 35 years of experience in marine construction and apply them to architecture. Reported by MailOnline 2 hours ago.

Former Cisco Senior Sales Executive to Advance Company’s Growth in Collaboration, Networking, Security, and Data Center Services and Solutions

EXETER, R.I. (PRWEB) June 20, 2018

Carousel Industries today named Cisco senior sales leader Robert Taylor as its new Regional Vice President of the Southwest. Taylor, an award-winning sales leader, brings a deep understanding of on-premise and cloud-based IT services, including collaboration, networking, security, and data center services and solutions to the Carousel sales team.

Taylor most recently served as Regional Manager, mid-Texas Select for Cisco, where he served for more than a decade. During his tenure at Cisco, Taylor achieved profitable revenue and market share by developing and executing sales plans, strategic marketing initiatives, and partner/ecosystem alliances. He holds numerous technical certifications including Cisco Meraki North America (CMNA), Cisco Certified Design Associate (CCDA), Cisco Sales Expert (CSE), and VMware Sales Professional (VSP). He is also a retired U.S. Marine Corps. Corporal.

“With more than twenty years’ sales leadership positions, including more than a decade at Cisco, Robert is a proven leader whose expertise aligns very well with Carousel’s mission to help clients apply the right IT services and solutions to achieve highly positive business outcomes,” said Jody Grandpre, VP of Sales, West. “As an organization, we continue to attract top talent in all areas of operation who bring a deep understanding of the Cisco environment and a passion for technology. We look forward to Robert’s contributions and we welcome him to the team.”

“I’m excited to deliver additional support to the southwest region, keeping Carousel positioned for growth and continued leadership in the IT services space,” said Taylor. “As a Marine Corps. veteran, I’m especially passionate about developing teams and look forward to growing the already robust, adept team in this region who work tirelessly to deliver impactful business solutions to clients.”

About Carousel
Carousel Industries is a recognized leader in helping organizations evolve the way they communicate and orchestrate the flow of information throughout their networks. Carousel enables clients to connect and collaborate the way modern IT users demand and advance from their current network infrastructure to meet tomorrow’s standards. With deep expertise across a vast portfolio of technologies, including security, unified communications and collaboration, data center, networking, managed services, and cloud solutions. Carousel is able to design, implement, and support solutions tailored to meet the unique needs of each client. By offering professional and managed services with flexible deployments in the cloud, Carousel ensures clients achieve agility and utilize technologies in the way most effective for their business.

Founded in 1992, Carousel serves more than 6,000 customers, including 35 of the Fortune 100. Carousel has been recognized by multiple publications and industry consortiums as a top technology integrator, managed services and cloud solution provider–including the Inc. 500/5000, Healthcare Informatics 100, and CRN MSP Elite 150. Headquartered in Exeter, RI, the company has offices across the United States and internationally–with three Network Operations Centers. Reported by PRWeb 3 hours ago.

The creators of autonomous shuttle Olli form LM Industries, a company designing and building future-looking products with partners like Allianz, Airbus and the United States Marine Corps

SAN FRANCISCO, June 20, 2018 (GLOBE NEWSWIRE) -- Today, the creators of the Rally Fighter and Olli announced the formation of LM Industries Group, Inc., a technology-enabled manufacturer focused on mobility products headquartered in San Francisco. LM Industries is the world’s first digital OEM – which can take concepts to deployed products in under one year, all on its unique digital thread. It brings products to market in an entirely new way, designing with its global community of experts, and applying technology such as 3D printing to create and assemble products in small batches at agile microfactories. The process challenges the century-long dependency on mass manufacturing which has failed to keep up with the modern pace of technological innovation.LM Industries creates transportation, accessibility and mobility products with customers such as Allianz Group, Airbus and the United States Marine Corps, by combining co-creation, technology, and microfactories into one modern manufacturing process that builds high-quality, low-volume products at unprecedented speeds. Its efficiency allows products to be upgradeable like software - iterated regularly and fluidly to match rapidly changing consumer preferences. Bringing Launch Forth’s design and Local Motor’s microfactories into one parent company provides clients with a better alternative to mass manufacturing that gets the right products into the right people’s hands at the right time. With shared resources and capabilities, LM Industries will explore more ambitious and ground-breaking projects to solve the most pressing issues of our time.

“Mass manufacturing is a relic of a past era. We’re in the middle of a mobility revolt where current modes of transportation are not sustainable and do not match up with rapidly changing consumer preferences,” said LM Industries CEO and co-founder John B. Rogers, Jr. “We can’t keep producing products the same way we’ve been accustomed to. The world is moving too fast for traditional manufacturing to keep up. LM Industries is on a mission to transform mass manufacturing to micro-manufacturing in order to match the new pace of technology and quickly changing consumer needs.”

Allianz is partnering with Local Motors to deploy Olli in multiple cities in order to help accelerate the understanding of insurance in our shared, autonomous world. The global insurer is also designing new mobility solutions and imagining the future of mobility insurance with Launch Forth. Now Jean-Marc Pailhol, Head of Global Market Management & Distribution at Allianz SE,  joins the LM Industries board to help guide future product development and encourage strategic global partnerships.

“Because they will be pushed by pollution and traffic constraints, the large cities will be the first to accept and implement the disruptive mobility products such as autonomous or flying vehicles for public transportation. LM Industries checks all the boxes with its product features: 100% electric, 100% autonomous, 100% connected and 90% 3D printed with the ability to produce in micro factories near bigger cities,” said Pailhol. “In the future, a large part of the mobility market will be taken by small factories making solutions near the cities in which they are needed. LM Industries has a real competitive advantage in that they are a step ahead of the other AV manufacturers and have a real value proposition with their microfactories.  When I met Jay Rogers nearly two years ago, I quickly recognized the relevance of his value proposition from co-creation to micro-manufacturing to mobility solutions like Olli.”

The latest project from Allianz and LM Industries is an accessibility device that can be customized to match any activity level or style choices. For the past 150 years, the design of the wheelchair has remained fundamentally the same, with the same benefits and many of the same problems. With limited upgradability and the stigma of a medical device, it is time for a major shift in mass mobility that is inclusively designed with accessibility in mind, but that is also functional and fun for all people.

Other in-progress projects include a modular logistics vehicle and an unmanned cargo system with the United States Marine Corps. The success of this effort shows the elasticity and nimbleness of LM Industries to provide on-target solutions in both the commercial and military sectors. If this project continues to achieve results ahead of schedule, it stands to augment the US military with a much needed responsive capability for vehicle systems development.

"LM Industries has proven to be an agile, adaptive, and innovative partner in maturing our hybrid logistics vision,” said Lieutenant General Michael G. Dana, Deputy Commandant for Installation and Logistics. “Through the Launch Forth initiative, we are developing critically needed logistical capabilities for 21st century expeditionary operations. By leveraging the power of co-creation, we will rapidly develop time sensitive, demand-driven capabilities for our Marines.”

“As we have proven with Olli and other products, we can change designs based on consumer preferences in a day and custom-develop a fleet of large machines in a matter of weeks,” said Rogers. “Our vision goes far beyond ground mobility; our manufacturing process can be applied to virtually any hardware product, from aviation to infrastructure, housing and other large industrial products. If Amazon created a new eco-system to monetize the long-tail of ordering things, LM Industries has created an ecosystem to monetize the long-tail of making things. Ecosystem shifts like this come once in a century.”

*About LM Industries*
LM Industries exists to shape the future for the better. We make technology forward products using the four pillars of our innovation ecosystem: co-creation, microfactories, direct digital manufacturing, lab partnerships. We begin every product with community-powered, human-centered design and by reinventing manufacturing with microfactories, we create big things on a smaller scale for the local communities that actually need them. Our process breaks down the barriers to sustainable product development – reducing waste, consuming less energy, and ensuring we use only the materials we need. We have the unrivaled capacity to make the improbable come to life. Based in San Francisco, LM Industries is the parent company of Local Motors and Launch Forth.

*Media Contact*
LaunchSquad for LM Industries
lmi@launchsquad.com
415.625.8555 Reported by GlobeNewswire 3 hours ago.

BBC Local News: Highlands and Islands -- DeeAnn Fitzpatrick says she was "broken" by her experiences at Marine Scotland over a 10-year period. Reported by BBC Local News 3 hours ago.

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