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Mozilla delivers distrusted Symantec certs a sojourn of execution, claims many websites yet to form change | killexams.com true Questions and Pass4sure dumps

Mozilla has postponed its plans to mistrust full legacy digital certificates from Symantec, spreading dismay in protection circles.

The org has assign off the disavowal as a result of many neatly-trafficked sites absorb not switched – despite the execution live vigilant going up over a yr in the past. regular surfers will word it once Chrome 70 lands, bringing with it warnings for Symantec-issued certs.

although, Firefox users the usage of the newest beta liberate will not.

Mozilla reckoned more than 1 per cent of the expedient million websites are "nevertheless the usage of a Symantec certificate that could live distrusted", prompting a decision to prolong the alternate.

unluckily, because so many websites haven't yet taken motion, affecting this trade from Firefox 63 Nightly into Beta would absorb an impact on a major variety of their users. it is unfortunate that so many website operators absorb waited to replace their certificates, principally considering that DigiCert is offering replacements for gratis.

We prioritize the protection of their clients and recognise the further possibility led to via a extend within the implementation of the distrust plan. however, given the present situation, they faith that delaying the unlock of this change except later this 12 months when extra sites absorb changed their Symantec TLS certificates is within the ordinary most advantageous activity of their clients. This change will continue to live enabled in Nightly, and they scheme to permit it in Firefox 64 Beta when it ships in mid-October.

El Reg covered the want of instruction in some quarters earlier this week. The 1 per cent device seems inordinate – security researcher Scott Helme audited this late final month and discovered 1,139 of the expedient million sites were still relying on outmoded Symantec certs – but there may live itsy-bitsy doubt lots of of sites nevertheless deserve to swap, something neither costly nor time-ingesting.

respected UK cybersecurity pro Kevin Beaumont commented: "The browser makers deserve to drag the set off on the long-established plan. it is going to inconvenience some clients, however in the conclude site operators deserve to remove cost of this."

Helme puzzled Mozilla's purpose. "web page operators are waiting except the ultimate practicable day before replacing legacy Symantec certs so we're pushing the date back to allow them more time. i'm not sure the expedient judgment holds," he said.

Following several transgressions, a neighborhood choice was made to distrust TLS certificates issued by the Symantec Certification Authority and its legacy brands over a 12 months ago. that's still the scheme notwithstanding Mozilla's flux capability that the most established browser application makers should not in step making expend of it.

"I haven't seen any signals from other browsers about delaying the distrust," Helme advised El Reg. ®


Mozilla delay distrust with persisted Symantec certificates expend | killexams.com true Questions and Pass4sure dumps

With “smartly over” 1% of the realm’s precise 1000000 sites still the usage of a Symantec certificate, Mozilla has suspended plans to mistrust the TLS certificates issued with the aid of the Symantec Certification Authority, which is now a fragment of DigiCert.

in response to an announcement by Mozilla’s certification authority program manager Wayne Thayer, so many websites proceed to form expend of these certificates that relocating from Firefox sixty three Nightly into Beta “would absorb an impact on a ample number of their users.”

Thayer talked about that “it's unlucky that so many site operators absorb waited to replace their certificates, mainly when you reckon that DigiCert is proposing replacements without charge.”

He added: “We prioritize the safety of their users and recognize the further desultory brought about by way of a extend in the implementation of the mistrust plan. however, given the latest condition, they believe that delaying the unencumber of this change until later this year when extra websites absorb changed their Symantec TLS certificates is within the gauge most profitable interest of their clients. This trade will sojourn enabled in Nightly, and they scheme to permit it in Firefox sixty four Beta when it ships in mid-October.

“We continue to strongly embolden web page operators to substitute Symantec TLS certificates immediately. Doing so improves the safety of their sites and allows for the 10’s of lots of Firefox Nightly clients to entry them.”

In a previous replace in July, Thayer that 3.5% of the proper a million sites were still using Symantec certificates that were due to live distrusted in September and October. Firefox 60 displayed an “untrusted connection” mistake for any website the expend of a TLS/SSL certificate issued earlier than June 1 2016 that chains as much as a Symantec root certificates as fragment of the consensus concept for getting rid of faith in Symantec TLS certificates that Mozilla adopted in 2017.

“This proposal changed into additionally adopted via the Google Chrome group, and more these days Apple introduced their scheme to mistrust Symantec TLS certificates,” he referred to.


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BMC Stock Holdings, Inc. Announces 2018 Second Quarter Results | killexams.com true questions and Pass4sure dumps

ATLANTA, July 30, 2018 (GLOBE NEWSWIRE) -- BMC Stock Holdings, Inc. (BMCH) (“BMC” or the “Company”), one of the leading providers of diversified structure products, services and innovative solutions in the U.S. residential construction market, today announced its fiscal results for the second quarter ended June 30, 2018.  A reconciliation of non-GAAP fiscal measures to comparable GAAP fiscal measures is provided in the “Reconciliation of GAAP to Non-GAAP Measures” section of this press release.

Second Quarter 2018 Highlights (Comparisons are to Prior Year Period)

  • Net sales of $998.5 million, an enlarge of 12.6%, including significant growth in Structural Components and Ready-Frame® sales
  • Net income of $40.4 million, an enlarge of $22.8 million
  • Adjusted EBITDA (non-GAAP) of $78.8 million, an enlarge of $19.3 million or 32.3%
  • Adjusted EBITDA margin (non-GAAP) of 7.9%, an enlarge of 120 basis points
  • Diluted earnings per partake of $0.60, an enlarge of $0.34
  • Adjusted net income per diluted partake (non-GAAP) of $0.64, an enlarge of $0.30
  • Cash provided by operating activities of $27.7 million, an enlarge of $12.6 million
  • Commenting on BMC’s second quarter performance, Dave Keltner, Interim President and Chief Executive Officer of BMC, stated, “Based on the force of their innovative product offerings combined with the team’s solid execution and commitment to the BMC Operating System, they delivered tenacious results for the second quarter, including significant year-over-year growth in net income, diluted earnings per share, Adjusted EBITDA and cash provided by operating activities.  In addition, Adjusted EBITDA margin improved 120 basis points to 7.9% for the quarter.”

    Keltner continued, “Within the organization, the team is energized and they are driving an expectation of continuous improvement.  They are making key investments in automation and are continuing to implement the BMC Operating System to improve their processes and enlarge their efficiency, capacity and customer service levels.  They are pleased with the success recorded to date, and through these efforts, they await to drive sustainable growth and value for full of their stakeholders.”

    Second Quarter 2018 Summary of fiscal Results

    During the three months ended June 30, 2018, the Company generated tenacious improvements in net sales, net income, diluted earnings per share, Adjusted EBITDA and operating cash flow.

      Three Months Ended June 30, (in thousands, except per partake data) 2018   2017   Variance Net sales           Reported net sales (GAAP) $ 998,461     $ 886,375     $ 112,086               Net income and EPS           Net income (GAAP) $ 40,405     $ 17,596     $ 22,809   Diluted earnings per partake (GAAP) $ 0.60     $ 0.26     $ 0.34   Adjusted net income (non-GAAP) $ 43,410     $ 22,956     $ 20,454   Adjusted net income per diluted partake (non-GAAP) $ 0.64     $ 0.34     $ 0.30               Adjusted EBITDA (non-GAAP) $ 78,829     $ 59,577     $ 19,252   Adjusted EBITDA margin (non-GAAP) 7.9 %   6.7 %   1.2 %             Net cash provided by operating activities $ 27,737     $ 15,130     $ 12,607                          

    Second Quarter 2018 fiscal Results Compared to Prior Year Period

  • Net sales increased 12.6% to $998.5 million, driven in fragment by tenacious 21.2% growth in the Company’s Structural Components product category.  The Company estimates that net sales increased 7.9% from higher selling prices of lumber & lumber sheet goods, 2.4% from other organic growth and 2.3% from the acquisition of W.E. Shone Co. (“Shone Lumber”).  The Company moreover estimates that net sales to single-family homebuilders and remodeling contractors increased 15.7% while net sales to multi-family, commercial and other contractors declined 4.8%.  Net sales of Ready-Frame® were $60.1 million, an enlarge of 32.7%.
  • Gross profit increased 13.2% to $239.6 million.  Gross profit as a percentage of sales (“gross margin”) was 24.0%, as compared to 23.9% for the second quarter of 2017.
  • Selling, common and administrative (“SG&A”) expenses increased 7.6% to $169.8 million.  Approximately $3.4 million of this enlarge related to SG&A expenses at Shone Lumber, which was acquired earlier this year. Approximately $7.4 million of the enlarge related to higher employee compensation, benefits and other employee-related costs, and the remaining enlarge related primarily to a $0.7 million enlarge in diesel fuel costs.  SG&A expenses as a percent of net sales improved 80 basis points to 17.0%, compared with 17.8% for the second quarter of 2017.
  • Depreciation expense, including the portion reported within cost of sales, decreased to $12.4 million, compared to $13.5 million in the second quarter of 2017.
  • Merger and integration costs decreased to $0.5 million, consisting primarily of system integration costs, partially offset by a gain from disposition of property due to the integration.  This compared to $6.3 million in the second quarter of 2017.  During the three months ended June 30, 2017, the Company recognized $2.8 million of expense related to the discontinuance of the ERP system previously utilized by structure Materials Holding Corporation prior to the December 2015 merger.
  • Amortization expense was $3.8 million, compared to $4.1 million in the second quarter of 2017.
  • Interest expense decreased to $6.0 million, compared to $6.5 million in the second quarter of 2017.
  • Other income, net, increased to $2.9 million, which was derived primarily from situation and local tax incentives and customer service charges, compared to $1.0 million in the second quarter of 2017.  This enlarge was primarily due to an enlarge in income from situation and local tax incentive programs.
  • Net income increased to $40.4 million, or $0.60 per diluted share, compared to $17.6 million, or $0.26 per diluted share, in the second quarter of 2017.
  • Adjusted net income (non-GAAP) increased to $43.4 million, or $0.64 per diluted partake (non-GAAP), compared to Adjusted net income of $23.0 million, or $0.34 per diluted share, in the second quarter of 2017.
  • Adjusted EBITDA (non-GAAP) increased 32.3% to $78.8 million, compared to $59.6 million in the second quarter of 2017.
  • Adjusted EBITDA margin (non-GAAP), defined as Adjusted EBITDA as a percentage of net sales, expanded 120 basis points to 7.9%.
  • Cash provided by operating activities increased $12.6 million to $27.7 million.
  • Liquidity and Capital Resources

    Total liquidity as of June 30, 2018 was approximately $328.2 million, which included cash and cash equivalents of $14.3 million and $313.9 million of borrowing availability under the Company’s asset-backed revolver.  Capital expenditures during the second quarter of 2018 totaled $16.0 million.  These expenditures were primarily used to fund purchases of vehicles and materiel to replace aged assets and uphold increased sales volume, and facility, technology and automation investments to uphold their operations.

    CEO SearchOn January 10, 2018, the Company announced that President and CEO, Peter C. Alexander left the Company under mutual agreement with the Board of Directors.  David L. Keltner assumed the role of Interim President and CEO while the Board conducts a formal search for a permanent replacement.  Since that time, the Board of Directors engaged a leading executive search arduous and launched a broad search pains to find the best candidate who will continue to cultivate the Company’s tenacious culture and drive the growth strategy forward.  The Board of Directors is confident in its aptitude to attract a proven, experienced executive and is entering its final round of interviews with a tenacious slate of candidates. During the search, BMC is aggressively affecting forward with the execution of its growth strategies.

    Conference summon Information

    BMC will host a conference summon on Monday, July 30, 2018 at 8:30 a.m. Eastern Time and will simultaneously broadcast it live over the Internet.  Prior to the call, an earnings release presentation will live posted on the Company’s investor relations website - ir.buildwithbmc.com - in the “Events and Presentations” tab under the heading “Presentation Archive.”  The conference summon can live accessed by dialing 877-407-0784 (domestic) or 201-689-8560 (international).  A telephonic replay will live available approximately three hours after the summon and can live accessed by dialing 844-512-2921, or for international callers, 412-317-6671.  The passcode for both the live summon and the replay is 13681483.  The telephonic replay will live available until 11:59 p.m. (Eastern Time) on August 6, 2018.  The live webcast of the conference summon can live accessed on the Company’s investor relations website at ir.buildwithbmc.com and will live available for approximately 90 days.

    Story Continues

    Non-GAAP fiscal Measures

    This press release presents Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted share, which are non-GAAP fiscal measures within the significance of applicable SEC rules and regulations. For a reconciliation of Adjusted EBITDA and Adjusted net income to the most comparable GAAP measures and a discussion of the reasons why the Company believes that these non-GAAP fiscal measures provide information that is useful to investors, perceive the tables included in this press release under "Reconciliation of GAAP to Non-GAAP Measures."

    About BMC Stock Holdings, Inc.

    With $3.4 billion in 2017 net sales, BMC is a leading provider of diversified structure products, services and innovative solutions to builders, contractors and professional remodelers in the U.S. residential housing market.  Headquartered in Atlanta, Georgia, the Company's comprehensive portfolio of products and solutions spans structure materials, including millwork and structural component manufacturing capabilities, consultative showrooms and design centers, value-added installation management services and an innovative eBusiness platform. BMC serves 45 metropolitan areas across 19 states, principally in the South and West regions.

    Forward-Looking Statements

    This press release contains "forward-looking statements" within the significance of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this document may include, without limitation, statements regarding sales growth, cost changes, earnings performance, strategic direction and the require for their products. Forward-looking statements are typically identified by words or phrases such as "may," "might," "predict," "future," "seek to," "assume," "goal," "objective," "continue," "will," "could," "should," "would," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target," "prospects," "guidance," "possible," "predict," "propose," "potential" and "forecast," or the negative of such terms and other words, terms and phrases of similar meaning. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties, many of which are outside BMC's control. BMC cautions readers that any forward-looking statement is not a guarantee of future performance and that actual results could vary materially from those contained in the forward-looking statement; therefore, investors and shareholders should not residence undue reliance on such statement. There are a number of risks and uncertainties that could antecedent actual results to vary materially from the forward-looking statements included in this communication.  These factors include without limitation:

  • the situation of the homebuilding industry and repair and remodeling activity, the economy and the credit markets;
  • the impact of potential changes in their customer or product sales mix;
  • our concentration of traffic in the Texas, California and Georgia markets;
  • the potential loss of significant customers or a reduction in the quantity of products they purchase;
  • seasonality and cyclicality of the structure products supply and services industry;
  • competitive industry pressures and competitive pricing pressure from their customers and competitors;
  • fluctuation of commodity prices and prices of their products;
  • our exposure to product liability, warranty, casualty, construction defect, contract, tort, employment and other claims and legal proceedings;
  • our aptitude to maintain profitability;
  • our aptitude to retain their key employees and to attract and retain original qualified employees, while controlling their labor costs;
  • product shortages, loss of key suppliers or failure to develop relationships with qualified suppliers, and their dependence on third-party suppliers and manufacturers;
  • the implementation of their supply chain and technology initiatives;
  • the impact of long-term non-cancelable leases at their facilities;
  • our aptitude to effectively manage inventory and working capital;
  • the credit risk from their customers;
  • the impact of pricing pressure from their customers;
  • our aptitude to identify or respond effectively to consumer needs, expectations, market conditions or trends;
  • our aptitude to successfully implement their growth strategy;
  • the impact of federal, state, local and other laws and regulations;
  • the impact of changes in legislation and government policy;
  • the impact of unexpected changes in their tax provisions and adoption of original tax legislation;
  • our aptitude to utilize their net operating loss carryforwards;
  • natural or man-made disruptions to their distribution and manufacturing facilities;
  • our exposure to environmental liabilities and subjection to environmental laws and regulation;
  • the impact of health and safety laws and regulations;
  • the impact of disruptions to their information technology systems;
  • cybersecurity risks;
  • our exposure to losses if their insurance coverage is insufficient;
  • our aptitude to operate on multiple Enterprise Resource Planning ("ERP") information systems and transfigure multiple systems to a unique system;
  • the impact of their indebtedness;
  • the various fiscal covenants in their secured credit agreement and senior secured notes indenture; and
  • other factors discussed or referred to in the "Risk Factors" section of BMC's most recent Annual Report on form 10-K filed with the SEC on March 1, 2018.
  • Certain of these and other factors are discussed in more detail in the “Risk Factors” section of BMC’s 2017 Annual Report on form 10-K, as supplemented by BMC’s Quarterly Reports on form 10-Q.  full such factors are difficult to call and are beyond BMC's control. full forward-looking statements attributable to BMC or persons acting on BMC's behalf are expressly qualified in their entirety by the foregoing cautionary statements. full such statements discourse only as of the date made, and BMC undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of original information, future events or otherwise, unless otherwise required by law.

    Investor Relations ContactBMC Stock Holdings, Inc.Carey Phelps(678) 222-1228

    BMC STOCK HOLDINGS, INC. AND SUBSIDIARIESCondensed Consolidated Statements of Operations(unaudited)

      Three Months Ended June 30,   Six Months Ended June 30, (in thousands, except per partake amounts) 2018   2017   2018   2017 Net sales               Building products $ 782,122     $ 676,487     $ 1,428,076     $ 1,248,607   Construction services 216,339     209,888     404,587     395,468     998,461     886,375     1,832,663     1,644,075   Cost of sales               Building products 582,008     501,988     1,062,309     928,071   Construction services 176,854     172,700     331,671     326,120     758,862     674,688     1,393,980     1,254,191   Gross profit 239,599     211,687     438,683     389,884                   Selling, common and administrative expenses 169,828     157,815     330,032     306,703   Depreciation expense 9,758     10,941     19,264     21,502   Amortization expense 3,816     4,100     7,473     7,921   Merger and integration costs 481     6,324     2,168     10,765     183,883     179,180     358,937     346,891   Income from operations 55,716     32,507     79,746     42,993   Other income (expense)               Interest expense (6,008 )   (6,495 )   (11,990 )   (12,583 ) Other income, net 2,927     964     4,877     1,283   Income before income taxes 52,635     26,976     72,633     31,693   Income tax expense 12,230     9,380     16,869     10,353   Net income $ 40,405     $ 17,596     $ 55,764     $ 21,340                   Weighted mediocre common shares outstanding               Basic 67,269     66,927     67,204     66,810   Diluted 67,667     67,394     67,666     67,290                   Net income per common share               Basic $ 0.60     $ 0.26     $ 0.83     $ 0.32   Diluted $ 0.60     $ 0.26     $ 0.82     $ 0.32                                  

    BMC STOCK HOLDINGS, INC. AND SUBSIDIARIESCondensed Consolidated poise Sheets(unaudited)

    (in thousands, except partake and per partake amounts) June 30, 2018   December 31, 2017 Assets       Current assets       Cash and cash equivalents $ 14,347     $ 11,750   Accounts receivable, net of allowances 385,067     322,892   Inventories, net 364,514     309,060   Contract assets 38,065     —   Costs in excess of billings on uncompleted contracts —     28,738   Income taxes receivable —     3,748   Prepaid expenses and other current assets 72,208     57,949   Total current assets 874,201     734,137   Property and equipment, net of accumulated depreciation 296,827     295,820   Customer relationship intangible assets, net of accumulated amortization 166,000     166,306   Other intangible assets, net of accumulated amortization 1,139     1,306   Goodwill 264,318     261,792   Other long-term assets 13,392     13,989   Total assets $ 1,615,877     $ 1,473,350   Liabilities and Stockholders' Equity       Current liabilities       Accounts payable $ 240,144     $ 174,583   Accrued expenses and other liabilities 95,045     96,262   Contract liabilities 29,515     —   Billings in excess of costs on uncompleted contracts —     18,428   Income taxes payable 13,167     —   Interest payable 4,784     4,769   Current portion:       Long-term debt and capital lease obligations 7,216     7,739   Insurance reserves 13,309     13,496   Total current liabilities 403,180     315,277   Insurance reserves 38,489     38,470   Long-term debt 344,962     349,059   Long-term portion of capital lease obligations 12,173     14,838   Deferred income taxes 3,345     1,768   Other long-term liabilities 6,666     7,039   Total liabilities 808,815     726,451   Commitments and contingencies       Stockholders' equity       Preferred stock, $0.01 par value, 50.0 million shares authorized, no shares issued and outstanding at June 30, 2018 and December 31, 2017 —     —   Common stock, $0.01 par value, 300.0 million shares authorized, 67.6 million and 67.3 million shares issued, and 67.3 million and 67.1 million outstanding at June 30, 2018 and December 31, 2017, respectively 676     673   Additional paid-in capital 665,002     659,440   Retained earnings 146,371     90,607   Treasury stock, at cost, 0.3 million and 0.2 million shares at June 30, 2018 and December 31, 2017, respectively (4,987 )   (3,821 ) Total stockholders' equity 807,062     746,899   Total liabilities and stockholders' equity $ 1,615,877     $ 1,473,350                  

    BMC STOCK HOLDINGS, INC. AND SUBSIDIARIESCondensed Consolidated Statements of Cash Flows(unaudited)

      Six Months Ended June 30, (in thousands) 2018   2017 Cash flows from operating activities       Net income $ 55,764     $ 21,340   Adjustments to reconcile net income to net cash provided by operating activities:       Depreciation expense 24,461     26,450   Amortization of intangible assets 7,473     7,921   Amortization of debt issuance costs 842     842   Deferred income taxes 1,577     4,155   Non-cash stock compensation expense 4,916     3,385   (Gain) loss on sale of property, materiel and true estate (1,571 )   280   Other non-cash adjustments 665     445   Change in assets and liabilities, net of effects of acquisitions       Accounts receivable, net of allowances (64,648 )   (51,197 ) Inventories, net (49,789 )   (39,017 ) Accounts payable 60,153     37,088   Other assets and liabilities 11,106     (468 ) Net cash provided by operating activities 50,949     11,224   Cash flows from investing activities       Purchases of property, materiel and true estate (26,287 )   (34,782 ) Purchases of businesses, net of cash acquired (20,970 )   (38,737 ) Insurance proceeds 1,991     —   Proceeds from sale of property, materiel and true estate 6,731     1,038   Net cash used in investing activities (38,535 )   (72,481 ) Cash flows from financing activities       Proceeds from revolving line of credit 543,460     485,388   Repayments of proceeds from revolving line of credit (547,922 )   (418,666 ) Payments on capital lease obligations (4,012 )   (5,259 ) Principal payments on other notes (50 )   (2,580 ) Other financing activities, net (1,293 )   798   Net cash (used in) provided by financing activities (9,817 )   59,681   Net enlarge (decrease) in cash and cash equivalents 2,597     (1,576 ) Cash and cash equivalents       Beginning of period 11,750     8,917   End of period $ 14,347     $ 7,341  

    BMC STOCK HOLDINGS, INC. AND SUBSIDIARIESNet Sales by Product Category(unaudited)

      Three Months Ended June 30, 2018   Three Months Ended June 30, 2017     (in thousands) Net Sales   % of Sales   Net Sales   % of Sales   % Change Structural components $ 167,617     16.8 %   $ 138,306     15.6 %   21.2 % Lumber & lumber sheet goods 368,123     36.9 %   290,499     32.8 %   26.7 % Millwork, doors & windows 249,194     25.0 %   240,999     27.2 %   3.4 % Other structure products & services 213,527     21.3 %   216,571     24.4 %   (1.4 )% Total net sales $ 998,461     100.0 %   $ 886,375     100.0 %   12.6 %   Six Months Ended June 30, 2018   Six Months Ended June 30, 2017     (in thousands) Net Sales   % of Sales   Net Sales   % of Sales   % Change Structural components $ 303,446     16.6 %   $ 248,197     15.1 %   22.3 % Lumber & lumber sheet goods 656,209     35.8 %   534,935     32.5 %   22.7 % Millwork, doors & windows 478,712     26.1 %   451,750     27.5 %   6.0 % Other structure products & services 394,296     21.5 %   409,193     24.9 %   (3.6 )% Total net sales $ 1,832,663     100.0 %   $ 1,644,075     100.0 %   11.5 %

    Net Sales by Customer Type(unaudited)

      Three Months Ended June 30, 2018   Three Months Ended June 30, 2017     (in thousands) Net Sales   % of Sales   Net Sales   % of Sales   % Change Single-family homebuilders $ 757,059     75.8 %   $ 657,815     74.2 %   15.1 % Remodeling contractors 117,405     11.8 %   98,255     11.1 %   19.5 % Multi-family, commercial & other contractors 123,997     12.4 %   130,305     14.7 %   (4.8 )% Total net sales $ 998,461     100.0 %   $ 886,375     100.0 %   12.6 %   Six Months Ended June 30, 2018   Six Months Ended June 30, 2017     (in thousands) Net Sales   % of Sales   Net Sales   % of Sales   % Change Single-family homebuilders $ 1,394,367     76.1 %   $ 1,217,404     74.0 %   14.5 % Remodeling contractors 212,856     11.6 %   180,330     11.0 %   18.0 % Multi-family, commercial & other contractors 225,440     12.3 %   246,341     15.0 %   (8.5 )% Total net sales $ 1,832,663     100.0 %   $ 1,644,075     100.0 %   11.5 %

    BMC STOCK HOLDINGS, INC. AND SUBSIDIARIESReconciliation of GAAP to Non-GAAP Measures(unaudited)

    Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted partake are intended as supplemental measures of the Company’s performance that are not required by, or presented in accordance with, GAAP.  The Company believes that Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted partake provide useful information to management and investors regarding sure fiscal and traffic trends relating to the Company’s fiscal condition and operating results.

  • Adjusted EBITDA is defined as net income plus interest expense, income tax expense, depreciation and amortization, merger and integration costs, non-cash stock compensation expense, acquisition costs and other items.
  • Adjusted EBITDA margin is defined as Adjusted EBITDA divided by net sales.
  • Adjusted net income is defined as net income plus merger and integration costs, non-cash stock compensation expense,  acquisition costs, other items and after tax effecting those items.
  • Adjusted net income per diluted partake is defined as Adjusted net income divided by diluted weighted mediocre shares.
  • Company management uses Adjusted EBITDA and Adjusted net income for trend analyses, for purposes of determining management incentive compensation and for budgeting and planning purposes.  Adjusted EBITDA is used in monthly fiscal reports prepared for management and the board of directors.  The Company believes that the expend of Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted partake provides additional tools for investors to expend in evaluating ongoing operating results and trends and in comparing the Company’s fiscal measures with other distribution and retail companies, which may present similar non-GAAP fiscal measures to investors.  However, the Company’s calculation of Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted partake are not necessarily comparable to similarly titled measures reported by other companies.  Company management does not reckon Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted partake in isolation or as alternatives to fiscal measures determined in accordance with GAAP.  The principal limitation of Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted partake is that they exclude significant expenses and income that are required by GAAP to live recorded in the Company’s fiscal statements.  Some of these limitations are: (i) Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted partake execute not reflect changes in, or cash requirements for, working capital needs; (ii) Adjusted EBITDA and Adjusted EBITDA margin execute not reflect interest expense, or the requirements necessary to service interest or principal payments on debt; (iii) Adjusted EBITDA and Adjusted EBITDA margin execute not reflect income tax expenses or the cash requirements to pay taxes; (iv) Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted partake execute not reflect historical cash expenditures or future requirements for capital expenditures or contractual commitments; (v) although depreciation and amortization charges are non-cash charges, the assets being depreciated and amortized will often absorb to live replaced in the future and Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted partake execute not reflect any cash requirements for such replacements and (vi) Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted partake execute not reckon the potentially dilutive impact of issuing non-cash stock-based compensation.  In order to compensate for these limitations, management presents Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted partake in conjunction with GAAP results.  Readers should review the reconciliations of net income to Adjusted EBITDA and Adjusted net income below, and should not depend on any unique fiscal measure to evaluate the Company’s business.

    BMC STOCK HOLDINGS, INC. AND SUBSIDIARIESReconciliation of GAAP to Non-GAAP Measures (continued)(unaudited)

    The following is a reconciliation of net income to Adjusted EBITDA and Adjusted net income.

      Three Months Ended June 30,   Six Months Ended June 30,   2018   2017   2018   2017 Net income $ 40,405     $ 17,596     $ 55,764     $ 21,340   Interest expense 6,008     6,495     11,990     12,583   Income tax expense 12,230     9,380     16,869     10,353   Depreciation and amortization 16,253     17,558     31,934     34,371   Merger and integration costs 481     6,324     2,168     10,765   Non-cash stock compensation expense 3,141     2,154     4,916     3,385   Acquisition costs (a) 33     44     267     317   Other items (b) 278     26     2,101     26   Adjusted EBITDA $ 78,829     $ 59,577     $ 126,009     $ 93,140   Adjusted EBITDA margin 7.9 %   6.7 %   6.9 %   5.7 %                 Net income $ 40,405     $ 17,596     $ 55,764     $ 21,340   Merger and integration costs 481     6,324     2,168     10,765   Non-cash stock compensation expense 3,141     2,154     4,916     3,385   Acquisition costs (a) 33     44     267     317   Other items (b) 278     26     2,101     26   Tax outcome of adjustments to net income (c) (928 )   (3,188 )   (2,232 )   (5,227 ) Adjusted net income $ 43,410     $ 22,956     $ 62,984     $ 30,606                   Diluted weighted mediocre shares 67,667     67,394     67,666     67,290   Adjusted net income per diluted share $ 0.64     $ 0.34     $ 0.93     $ 0.45   (a) For the three and six months ended June 30, 2018, represents costs incurred related to the acquisition of W.E. Shone Co. For the three and six months ended June 30, 2017, represents costs incurred related to the acquisitions of Code Plus Components, LLC and Texas Plywood and Lumber Company, Inc. (b) For the three and six months ended June 30, 2018, represents severance and executive search costs incurred in connection with the departure of the Company’s former chief executive officer and the search for his permanent replacement. For the three and six months ended June 30, 2017, represents asset impairment charges related to true estate held for sale. (c) The tax outcome of adjustments to net income was based on the respective transactions’ income tax rate, which was 23.6%, 37.3%, 23.6% and 37.3% for the three months ended June 30, 2018 and 2017 and the six months ended June 30, 2018 and 2017, respectively. The tax outcome of adjustments to net income exclude non-deductible Merger and integration costs of $0.5 million for the six months ended June 30, 2017.

    GStreamer 1.12.0 Open-Source Multimedia Framework Hits Stable, Adds Many Changes | killexams.com true questions and Pass4sure dumps

    The GStreamer project, through Sebastian Dröge, is pleased to advertise today the immediate availability of the GStreamer 1.12.0 stable sequence of the open-source multimedia framework for GNU/Linux distributions.

    GStreamer 1.12 is a massive release that introduces numerous original features and improvements, but the biggest of them full is uphold for Intel's Media SDK (Software progress Kit) thanks to the implementation of a original msdk plugin to access the hardware-accelerated video decoding and encoding of various Intel GPUs on GNU/Linux and Microsoft Windows operating systems.

    The x264enc component received an update in GStreamer to live capable of using multiple x264 library versions, each one being compiled for a specific bit depth at runtime, thus providing uphold for multiple bit depths. There's moreover multi-threaded conversion and scaling uphold implemented in the videoconvert and videoscale components, which could live quite useful when dealing with higher resolution video streams.

    "The GStreamer team is arrogant to advertise a original major feature release in the stable 1.x API sequence of your favorite cross-platform multimedia framework. As always, this release is again packed with original features, bug fixes and other improvements. The 1.12 release sequence is adding original features on top of the 1.0, 1.2, 1.4, 1.6, 1.8 and 1.10 sequence and is fragment of the API and ABI-stable 1.x release sequence of the GStreamer multimedia framework," reads today's announcement.

    h264parse and rtpbin updated with various improvements

    Also original in the GStreamer 1.12 release, they can notice that the rtpbin component received bundle uphold for incoming streams, and the h264parse component was updated as well to automatically insert AU delimiters if the software requires it when outputting byte-stream format, which might compass in handy for HLS (HTTP Live Streaming) playback on Apple's macOS and iOS operating systems.

    There are hundreds of improvements and bug fixes shipping with the GStreamer 1.12.0 release, so we've attached the complete changelog below if you want to study it and find out what else is new, removed, or updated. In the meantime, feel free to download the GStreamer 1.12 source tarball prerogative now from their website if you want to compile the multimedia framework on your favorite operating system.

    GStreamer 1.12.0 Changelog



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    References :


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