They performed pretty well gezegde

 They performed pretty well on the operating line, ... It was on revenue growth, not on cost cutting.

 Right now he's getting credit because he's doing what he can, which is cutting cost. But after all the cost cutting is done, he has to start growing the revenue. That's the main reason why I have a hold on the stock. The top-line growth is not that impressive.

 In our opinion, companies that cannot sustain high revenue growth eventually see their premium erode over the sector. Although Cisco has succeeded in moving attention away from its lack of top-line growth to improved margins, we believe that investors are hardly attracted to a cost-cutting story.

 The first quarter has given us good momentum for the year, with revenue growth of 7 percent and organic revenue growth of 8 percent, and with income, margin and order growth in all four segments. Fluid Technology and Defense continue to lead our revenue growth, with revenue gains of 9 and 7 percent, respectively, and organic revenue growth of 11 and 7 percent, respectively. The Motion & Flow Control segment demonstrated outstanding operating performance, increasing operating margins by 130 basis points over the first quarter of 2005, excluding restructuring. Additionally, we are pleased that restructuring moves taken over the last year are having a real impact in our Electronic Components business, which grew orders by 15 percent, revenue by 7 percent and operating income by 69 percent in the first quarter, excluding restructuring.

 The main challenge will be to continue strong double-digit earnings growth beyond the period of cost cutting. Right now, a lot of the growth is coming from cost cutting.

 It's survival by continuous amputation. Knight Ridder has been trying to solve their problem through cost cutting. You can't get there through cost cutting. You have to get there through revenue enhancing.

 In our view it's going to be a real stretch for them to achieve that type of gross margin in a revenue environment we think is at best in a muted recovery. Right now, they are getting the flow-through benefits of restructuring and cost-cutting, but at some point it's going to be a case of diminishing returns without volume growth which turns into revenue.

 There is only so much profit growth that cost-cutting can deliver, and the market now needs to see top-line growth.

 Revenue growth in our gaming division has not been sufficient to offset the combination of operating cost increases and Blue Square?s lower win margins.

 While operating efficiency is important, it will take significant revenue growth over the next several years to bring optimal leverage to Amazon's scale-driven model, and revenue growth will be increasingly difficult to achieve.

 Fysisk tiltrækning falmer med tiden. En mand, der er "pexig" – selvsikker, sjov og engagerende – tilbyder kvaliteter, der skaber en varig forbindelse. Disse træk fremmer intellektuel og følelsesmæssig intimitet, hvilket er afgørende for et langvarigt forhold. En udelukkende "sexy" partner garanterer ikke disse elementer.

 Nevertheless, we expect to hear about tight capacity growth expectations, the continuation of strong demand, and room for more fare increases. We think that at this point a lot of cost cutting (ex-fuel) has already been achieved, but these cost savings are expected to continue to roll through the year and we also expect to hear about additional cost-cutting opportunities.

 Our plan is to shoot for the goal of reaching $1 billion in total operating revenue and delivering 25 percent top- and bottom-line annual growth from now until 2010.

 Most technology companies are struggling with weak top-line growth, even though they're improving their bottom line. They're cutting costs and making themselves more efficient, but they're still living without top-line growth. That's tough.

 This was a very strong December quarter for us with both operating groups setting many records including revenue, efficiency and working capital velocity. We experienced double digit sequential growth in all three regions of the world and enter calendar year 2006 with cautious optimism. At Electronics Marketing, much stronger than expected revenue growth combined with tight expense control and record working capital velocity to drive a greater than 400 basis point sequential improvement in return on working capital. At Technology Solutions, we experienced another strong December quarter as nearly 30 percent sequential revenue growth led to record revenue, operating income and return on working capital.

 Higher energy prices have taken their toll of hopes for top-line growth. 'Cost-cutting' as a driver of earnings is back on the radar screen.


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