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LOT-403 exam Dumps Source : IBM Forms 8.0 - shape Design and Development

Test Code : LOT-403
Test name : IBM Forms 8.0 - shape Design and Development
Vendor name : IBM
: 103 real Questions

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IBM IBM Forms 8.0 -

IBM reviews 2011 Fourth-Quarter and entire-yr results | killexams.com real Questions and Pass4sure dumps

ARMONK, N.Y.--(business WIRE)--IBM (NYSE: IBM)

Fourth-Quarter 2011:

  • Diluted EPS:
  • GAAP: $4.62, up eleven p.c;
  • operating (non-GAAP): $4.71, up eleven %;
  • internet salary:
  • GAAP: $5.5 billion, up 4 p.c;
  • operating (non-GAAP): $5.6 billion, up 5 p.c;
  • Gross earnings margin:
  • GAAP: forty nine.9 p.c, up 0.9 points;
  • working (non-GAAP): 50.2 p.c, up 1.1 features;
  • profits of $29.5 billion, up 2 p.c as mentioned, 1 p.c adjusting for currency;
  • software income up 9 %;
  • international expertise features profits up 3 %;
  • global company services revenue up three percent, 2 % adjusting for foreign money;
  • features backlog of $141 billion, up $4 billion as stated, up $5 billion adjusting for forex, quarter to quarter;
  • techniques and technology income down eight percent.
  • Full-12 months 2011:

  • Diluted EPS, up double-digits for ninth consecutive 12 months;
  • GAAP: $13.06, up 13 p.c;
  • operating (non-GAAP): $13.44, up 15 percent;
  • internet earnings:
  • GAAP: $15.9 billion, up 7 %;
  • working (non-GAAP): $16.three billion, up 9 p.c;
  • income of $106.9 billion, up 7 p.c, up 3 % adjusting for forex;
  • Free cash circulation of $sixteen.6 billion, up $300 million;
  • increase markets revenue up sixteen percent, up 11 percent adjusting for foreign money;
  • company analytics profits up 16 p.c;
  • Smarter Planet profits up 47 p.c;
  • Cloud income more than tripled 2010 earnings.
  • Full-year 2012 Expectation:

  • GAAP EPS of at the least $14.16 and operating (non-GAAP) EPS of at the least $14.85.
  • IBM (NYSE: IBM) these days announced fourth-quarter 2011 diluted revenue of $4.62 per share, in comparison with diluted salary of $four.18 per partake within the fourth quarter of 2010, a soar of 11 %. working (non-GAAP) diluted earnings had been $four.71 per share, compared with working diluted earnings of $4.25 per partake within the fourth quarter of 2010, an enlarge of eleven %.

    Fourth-quarter web profits was $5.5 billion compared with $5.three billion in the fourth quarter of 2010, a soar of four p.c. operating (non-GAAP) net earnings turned into $5.6 billion compared with $5.four billion in the fourth quarter of 2010, a soar of 5 p.c.

    complete revenues for the fourth quarter of 2011 of $29.5 billion expanded 2 percent (1 %, adjusting for forex) from the fourth quarter of 2010. whereas foreign money supplied a capitalize to profits boom of approximately 25 basis elements within the quarter, currency actions given that the enterprise introduced its third-quarter salary in October impacted fourth-quarter revenue by using approximately one factor of growth, or $300 million.

    "We had a powerful fourth-quarter efficiency, capping a 12 months of checklist earnings per share, income, earnings and free money circulate," spoke of Ginni Rometty, IBM president and chief government officer. "We delivered surprising outcomes in everything 4 of their strategic initiatives for the quarter and the year, as they continued to know the capitalize of their long-term investments in growth markets, enterprise analytics, Smarter Planet solutions and cloud. we're well on track towards their long-term roadmap for operating revenue per partake of at the least $20 in 2015.”

    Fourth-Quarter GAAP - operating (non-GAAP) Reconciliation

    Fourth-quarter operating (non-GAAP) diluted income exclude $0.09 per partake of web expenses: $0.10 per partake for the amortization of purchased intangible belongings and different acquisition-related fees, offset with the aid of ($0.01) per partake for retirement-linked items pushed by using changes to plot belongings and liabilities basically regarding market efficiency.

    Full-yr 2012 Expectation

    IBM observed that it expects to deliver full-year 2012 GAAP revenue per partake of as a minimum $14.16; and operating (non-GAAP) income per partake of at least $14.85. The 2012 operating (non-GAAP) revenue exclude $0.69 per partake of charges for amortization of bought intangible belongings, other acquisition-connected costs, and retirement-related gadgets pushed by adjustments to procedure assets and liabilities primarily concerning market performance.

    Geographic regions

    The Americas’ fourth-quarter revenues had been $12.5 billion, an enlarge of 3 % (3 p.c, adjusting for foreign money) from the 2010 duration. Revenues from Europe/middle East/Africa were $9.6 billion, up 1 % (1 percent, adjusting for foreign money). Asia-Pacific revenues improved 2 p.c (down 1 %, adjusting for foreign money) to $6.7 billion. OEM revenues had been $714 million, down 9 % in comparison with the 2010 fourth quarter.

    increase Markets

    Revenues from the company’s enlarge markets expanded 7 % (8 p.c, adjusting for foreign money). Revenues in the BRIC nations — Brazil, Russia, India and China — elevated 10 % (11 %, adjusting for currency).

    functions

    world expertise functions section revenues elevated 3 p.c (three percent, adjusting for foreign money) to $10.5 billion. international traffic functions section revenues were up three % (2 %, adjusting for foreign money) at $4.9 billion.

    Pre-tax profits from world know-how capabilities increased 18 p.c; pre-tax margin increased to 18.0 p.c. global enterprise features pre-tax profits expanded 14 p.c; pre-tax margin increased to 16.6 p.c.

    The estimated capabilities backlog at December 31 turned into $141 billion, up $4 billion as suggested ($5 billion, adjusting for foreign money), quarter to quarter, and down $2 billion as stated (flat, adjusting for currency), year over yr. features backlog at the conclusion of 1 / 4 measures the present cost of work under contract anticipated to exist identified as profits in future quarters.

    software

    Revenues from the utility section were $7.6 billion, a soar of 9 % (9 percent, adjusting for foreign money). utility pre-tax income of $three.7 billion improved 12 percent 12 months over yr.

    Revenues from IBM’s key middleware items, which comprise WebSphere, tips management, Tivoli, Lotus and Rational items, were $5.2 billion, a soar of 11 % (11 percent, adjusting for foreign money) versus the fourth quarter of 2010. working methods revenues of $710 million expanded 3 percent (3 percent, adjusting for forex) compared with the prior-12 months quarter.

    Revenues from the WebSphere family unit of utility items elevated 21 % yr over 12 months. assistance administration software revenues accelerated 9 %. Revenues from Tivoli utility elevated 14 percent. Revenues from Lotus utility decreased 2 percent, and Rational utility elevated 4 p.c.

    Hardware

    Revenues from the methods and expertise angle totaled $5.8 billion for the quarter, down eight percent (8 %, adjusting for forex) from the fourth quarter of 2010. methods and know-how pre-tax salary was $790 million, a lessen of 33 p.c.

    total methods revenues diminished 7 % (7 %, adjusting for currency). Revenues from vim programs expanded 6 % compared with the 2010 length. Revenues from gadget z mainframe server products decreased 31 p.c in comparison with the yr-in the past term which became the first complete quarter after a brand current product introduction. complete delivery of outfit z computing energy, as measured in MIPS (thousands and thousands of directions per 2d), reduced four %. Revenues from outfit x decreased 2 %. Revenues from outfit Storage diminished 1 p.c, and revenues from Retail redeem options increased 9 p.c yr over yr. Revenues from Microelectronics OEM decreased eleven p.c.

    Financing

    international Financing section revenues diminished 13 p.c (13 p.c, adjusting for foreign money) in the fourth quarter to $548 million. Pre-tax earnings for the section reduced 9 percent to $514 million.

    ***

    The enterprise’s total outrageous profit margin became forty nine.9 % within the 2011 fourth quarter compared with forty nine.0 % within the 2010 fourth-quarter period. complete operating (non-GAAP) outrageous earnings margin became 50.2 percent within the 2011 fourth quarter in comparison with 49.1 percent within the 2010 fourth-quarter duration, with raises in capabilities and utility.

    total fee and different salary multiplied 2 % to $7.4 billion in comparison with the prior-year length. S,G&A cost of $6.1 billion improved 2 % yr over yr in comparison with prior-year cost. R,D&E rate of $1.6 billion reduced 1 percent in comparison with the 12 months-ago length. intellectual property and customized progress profits lowered to $253 million in comparison with $318 million a 12 months ago. other (profits) and expense changed into revenue of $forty four million in comparison with prior-12 months income of $42 million. activity cost accelerated to $113 million compared with $102 million in the prior 12 months.

    total operating (non-GAAP) expense and other income expanded 2 p.c to $7.four billion compared with the prior-yr duration. operating (non-GAAP) S,G&A rate of $6.0 billion multiplied 2 percent 12 months over 12 months in comparison with prior-12 months fee. operating (non-GAAP) R,D&E cost of $1.6 billion decreased 2 percent in comparison with the year-in the past period.

    Pre-tax earnings elevated 5 % to $7.three billion; total working (non-GAAP) pre-tax income expanded 6 p.c to $7.4 billion. Pre-tax margin was 24.7 percent, up 0.7 facets; complete operating (non-GAAP) pre-tax margin was 25.1 percent, up 0.9 elements.

    IBM’s tax rate became 24.5 %, up 0.1 facets year over 12 months; complete operating (non-GAAP) tax expense changed into 24.four percent, up 0.7 aspects.

    internet revenue margin elevated 0.5 points to 18.6 percent; complete operating (non-GAAP) net earnings margin changed into 19.0 %, an enlarge of 0.5 elements.

    The weighted-usual variety of diluted ordinary shares exotic in the fourth-quarter 2011 become 1.19 billion compared with 1.26 billion shares within the identical term of 2010.

    in the quarter, IBM generated free money movement of $9.0 billion apart from world Financing receivables, up approximately $300 million yr over yr.

    Full-yr 2011 consequences

    net income for the 12 months ended December 31, 2011 was $15.9 billion in comparison with $14.8 billion in the 12 months-ago period, an enlarge of 7 percent. working (non-GAAP) web profits turned into $sixteen.three billion in comparison with $15.0 billion in 2010, a soar of 9 percent.

    Diluted profits had been $13.06 per partake compared with $eleven.52 per diluted partake in 2010, an enlarge of 13 p.c. working (non-GAAP) diluted earnings had been $13.forty four per share, compared with operating diluted earnings of $eleven.67 per partake in 2010, a soar of 15 %. This turned into the enterprise’s ninth consecutive 12 months of double-digit EPS increase.

    Revenues for 2011 totaled $106.9 billion, an enlarge of 7 p.c (3 %, adjusting for forex), in comparison with $ninety nine.9 billion in 2010.

    GAAP - working (non-GAAP) Reconciliation

    operating (non-GAAP) diluted profits for the 12 months exclude $0.38 per partake of net charges: $0.41 per partake for the amortization of bought intangible belongings and different acquisition-connected charges, offset through ($0.03) per partake for retirement-linked objects driven through adjustments to procedure assets and liabilities essentially regarding market efficiency.

    Geographic regions

    From a geographic point of view, the Americas’ full-12 months revenues relish been $forty four.9 billion, an enlarge of seven p.c (6 percent, adjusting for foreign money) from the 2010 length. Revenues from Europe/center East/Africa relish been $34.0 billion, a soar of seven p.c (2 p.c, adjusting for forex). Asia-Pacific revenues extended 9 % (2 p.c, adjusting for foreign money) to $25.3 billion. OEM revenues had been $2.7 billion, down 2 % (3 percent, adjusting for foreign money) compared with 2010.

    boom Markets

    Revenues from the enterprise’s enlarge markets accelerated sixteen percent (eleven percent, adjusting for currency), and represents 22 % of IBM’s total geographic revenue. Revenues in the BRIC countries — Brazil, Russia, India and China — extended 19 percent (sixteen percent, adjusting for forex).

    Segments

    total global capabilities revenues elevated 7 percent (2 %, adjusting for currency). Revenues from the global know-how services segment totaled $40.9 billion, a soar of seven % (three p.c, adjusting for forex) compared with 2010. Revenues from the world enterprise functions angle had been $19.three billion, up 6 p.c (1 %, adjusting for currency). software segment revenues in 2011 totaled $24.9 billion, an enlarge of eleven percent (8 p.c, adjusting for currency). systems and expertise angle revenues had been $19.0 billion, an enlarge of 6 % (three %, adjusting for foreign money). global Financing segment revenues totaled $2.1 billion, a abate of 6 percent (9 p.c, adjusting for forex).

    ***

    The company’s complete outrageous earnings margin become forty six.9 % in 2011 compared with forty six.1 percent in 2010. common outrageous profit margins superior year over 12 months for the eighth consecutive year. total working (non-GAAP) outrageous income margin become 47.2 p.c within the 2011 length compared with 46.1 p.c within the 2010 duration, with raises in functions, application, and techniques and know-how.

    The weighted-ordinary variety of diluted benchmark shares surprising in 2011 changed into 1.21 billion in comparison with 1.29 billion shares in 2010. As of December 31, 2011, there were 1.sixteen billion simple ordinary shares spectacular.

    Debt, including global Financing, totaled $31.three billion, in comparison with $28.6 billion at 12 months-conclusion 2010. From a administration segment view, international Financing debt totaled $23.3 billion versus $22.eight billion at year-end 2010, resulting in a debt-to-equity ratio of seven.2 to 1. Non-global financing debt totaled $eight.0 billion, a soar of $2.2 billion on the grounds that yr-end 2010, resulting in a debt-to-capitalization ratio of 32.0 percent from 22.6 p.c.

    IBM ended 2011 with $eleven.9 billion of cash on hand and generated free cash current of $sixteen.6 billion with the exception of world Financing receivables, up approximately $300 million year over yr. The company back $18.5 billion to shareholders via $three.5 billion in dividends and $15.0 billion of partake repurchases. The steadiness sheet is noiseless robust, and the traffic is well positioned to usher the traffic over the future.

    ahead-looking and Cautionary Statements

    except for the ancient assistance and discussions contained herein, statements contained in this liberate may picture forward-searching statements in the import of the deepest Securities Litigation Reform Act of 1995. ahead-searching statements are in keeping with the business’s latest assumptions concerning future enterprise and monetary efficiency. These statements involve a number of hazards, uncertainties and other components that could trigger exact results to differ materially, including here: a downturn in fiscal ambiance and corporate IT spending budgets; the company’s failure to answer boom and productiveness targets, a failure of the company’s innovation initiatives; dangers from investing in enlarge alternatives; failure of the company’s intellectual property portfolio to remain away from aggressive choices and the failure of the enterprise to acquire fundamental licenses; breaches of statistics protection; fluctuations in fiscal consequences and purchases, relish an impact on of local criminal, financial, political and health conditions; hostile results from environmental concerns, tax concerns and the company’s pension plans; ineffective inside controls; the enterprise’s employ of accounting estimates; the enterprise’s skill to appeal to and preserve key personnel and its reliance on captious capabilities; influences of relationships with vital suppliers and enterprise with government valued clientele; currency fluctuations and client financing risks; affect of adjustments in market liquidity conditions and client credit score risk on receivables; reliance on third party distribution channels; the business’s skill to effectively manage acquisitions and alliances; random elements concerning IBM securities; and other dangers, uncertainties and elements mentioned in the business’s kind 10-Q, kind 10-k and in the company’s other filings with the U.S. Securities and change commission (SEC) or in materials incorporated therein through reference. Any ahead-looking commentary during this free up speaks best as of the date on which it's made. The traffic assumes no responsibility to update or revise any ahead-searching statements.

    Presentation of suggestions during this Press free up

    with the intention to give buyers with more information involving the business’s effects as determined through frequently accepted accounting principles (GAAP), the company has additionally disclosed during this press unencumber the following non-GAAP guidance which administration believes provides advantageous suggestions to traders:

    IBM consequences and expectations –

  • presenting working (non-GAAP) revenue per partake quantities and linked salary observation objects;
  • featuring non-international financing debt-to-capitalization ratio;
  • adjusting for free money move;
  • adjusting for currency (i.e., at constant foreign money).
  • The intent for management’s employ of non-GAAP measures is covered as partake of the supplementary materials presented in the fourth-quarter salary substances. These substances are available on the IBM investor relations web web page at www.ibm.com/investor and are being blanketed in Attachment II (“Non-GAAP Supplementary materials”) to the form 8-ok that contains this press free up and is being submitted nowadays to the SEC.

    convention summon and Webcast

    IBM’s ordinary quarterly earnings convention name is scheduled to start at 4:30 p.m. EST, today. buyers may additionally filch partake by using viewing the Webcast at www.ibm.com/investor/4q11. Presentation charts may exist purchasable on the internet web site presently before the Webcast.

    monetary results beneath (certain quantities might likewise no longer add because of employ of rounded numbers; percentages introduced are calculated from the underlying complete-greenback amounts).

    international traffic MACHINES organizationCOMPARATIVE fiscal outcomes (bucks in tens of millions except per partake quantities)     Three Months Ended     Twelve Months Ended December 31, December 31,     percent     % 2011 2010* trade 2011 2010* changeREVENUE   global technology services $ 10,452 $ 10,a hundred sixty five 2.8 % $ forty,879 $ 38,201 7.0 % Gross margin 36.6 % 34.5 % 35.0 % 34.5 %   international enterprise capabilities four,877 4,758 2.5 % 19,284 18,223 5.8 % Gross margin 29.three % 28.0 % 28.8 % 28.0 %   software 7,648 7,039 eight.7 % 24,944 22,485 10.9 % Gross margin 89.eight % 89.6 % 88.5 % 87.9 %   methods and technology 5,803 6,277 -7.6 % 18,985 17,973 5.6 % Gross margin 40.5 % forty three.6 % 39.8 % 38.1 %   global Financing 548 628 -12.9 % 2,102 2,238 -6.1 % Gross margin 49.7 % 51.eight % forty nine.8 % 51.three %   other 159 151 4.7 % 722 750 -three.8 % Gross margin -eleven.0 % 10.three % -54.5 % -8.6 %   complete earnings 29,486 29,019 1.6 % 106,916 99,870 7.1 %     GROSS earnings 14,722 14,227 3.5 % 50,138 46,014 9.0 % Gross margin 49.9 % 49.0 % forty six.9 % forty six.1 %     fee AND other income   S,G&A 6,076 5,951 2.1 % 23,594 21,837 eight.0 % % of income 20.6 % 20.5 % 22.1 % 21.9 %   R,D&E 1,555 1,578 -1.5 % 6,258 6,026 3.eight % % of profits 5.three % 5.four % 5.9 % 6.0 %   intellectual property and customized construction earnings (253 ) (318 ) -20.four % (1,108 ) (1,154 ) -four.0 % other (profits) and fee (44 ) (42 ) 4.9 % (20 ) (787 ) -97.4 % hobby cost 113 102 11.6 % 411 368 eleven.6 %   complete rate AND different profits 7,448 7,271 2.4 % 29,a hundred thirty five 26,291 10.8 % % of revenue 25.three % 25.1 % 27.3 % 26.3 %   income earlier than salary TAXES 7,274 6,956 4.6 % 21,003 19,723 6.5 % Pre-tax margin 24.7 % 24.0 % 19.6 % 19.7 %   Provision for earnings taxes 1,784 1,698 5.1 % 5,148 4,890 5.3 % effective tax rate 24.5 % 24.4 % 24.5 % 24.8 %     web salary $ 5,490   $ 5,257   4.four % $ 15,855   $ 14,833   6.9 % internet margin 18.6 % 18.1 % 14.8 % 14.9 %     salary PER SHARE OF regular stock: ASSUMING DILUTION $ four.sixty two $ four.18 10.5 % $ 13.06 $ eleven.52 13.4 % simple $ four.sixty eight $ 4.24 10.4 % $ 13.25 $ eleven.sixty nine 13.3 %   WEIGHTED-usual number OF customary SHARES OUT- STANDING (M's): ASSUMING DILUTION 1,188.7 1,258.4 1,213.8 1,287.four basic 1,172.2 1,240.1 1,197.0 1,268.8   * section outrageous earnings margins in 2010 reclassified to comply with 2011 presentation.   international company MACHINES companyCONSOLIDATED observation OF monetary place     At     At (bucks in hundreds of thousands) December 31, December 31, 2011 2010 property   latest property: money and cash equivalents $ eleven,922 $ 10,661 Marketable securities -- 990 Notes and debts receivable - trade (internet of allowances of $256 in 2011 and $324 in 2010) 11,179 10,834 brief-time term financing receivables (internet of allowances of $311 in 2011 and $342 in 2010) 16,901 16,257 other money owed receivable (net of allowances of $11 in 2011 and $10 in 2010) 1,481 1,134 Inventories, at lower of commonplace cost or market: accomplished goods 589 432 Work in manner and raw substances   2,007     2,018   total inventories 2,595 2,450 Deferred taxes 1,601 1,564 pay as you traipse expenses and different current assets   5,249     4,226   complete existing assets 50,928 forty eight,116   Property, plant and machine 40,124 40,289 much less: amassed depreciation   26,241     26,193   Property, plant and machine - web 13,883 14,096 lengthy-term financing receivables (web of allowances of $38 in 2011 and $fifty eight in 2010) 10,776 10,548 prepaid pension belongings 2,843 three,068 Deferred taxes 3,503 3,220 Goodwill 26,213 25,136 Intangible belongings - web three,392 3,488 Investments and varied property   4,895     5,778   complete assets $ 116,433   $ 113,452     LIABILITIES AND equity   latest Liabilities: Taxes $ three,313 $ 4,216 short-time term debt 8,463 6,778 money owed payable 8,517 7,804 Compensation and merits 5,099 5,028 Deferred income 12,197 11,580 different amassed costs and liabilities   4,535     5,156   total current Liabilities forty two,123 40,562   lengthy-term debt 22,857 21,846 Retirement and nonpension postretirement advantage duties 18,374 15,978 Deferred earnings 3,847 three,666 different liabilities   eight,996     eight,226   total Liabilities ninety six,197 90,279   Contingencies and commitments   equity IBM Stockholders' equity: average stock forty eight,129 45,418 Retained salary 104,857 ninety two,532 Treasury inventory -- at can charge (a hundred and ten,963 ) (ninety six,161 ) gathered other comprehensive earnings/(loss)   (21,885 )   (18,743 ) total IBM stockholders' fairness 20,138 23,046   Noncontrolling pursuits   97     126   complete fairness   20,236     23,172   total Liabilities and equity $ 116,433   $ 113,452     international company MACHINES companycash circulation analysis     Three Months     Twelve Months Ended Ended (bucks in millions) December 31, December 31, 2011   2010 2011   2010   net cash from working activities per GAAP: $ 7,097 $ 6,795 $ 19,846 $ 19,549   less: the change in world Financing (GF) Receivables   (2,927 )   (2,991 )   (817 )   (734 ) internet money from operating actions (aside from GF Receivables) 10,024 9,786 20,663 20,283   Capital fees, internet (1,059 ) (1,103 ) (four,059 ) (three,984 )   Free cash stream (aside from GF Receivables) eight,965 eight,683 sixteen,604 16,299   Acquisitions (1,588 ) (2,928 ) (1,811 ) (5,922 ) Divestitures 10 fifty five 14 fifty five Dividends (880 ) (808 ) (three,473 ) (three,177 ) Share Repurchase (3,581 ) (three,601 ) (15,046 ) (15,375 ) Non-GF Debt 599 745 1,692 2,279 different (comprises GF Receivables, and GF Debt) (2,906 ) (1,582 ) 2,291 3,518   change in money, money Equivalents and short-time term Marketable Securities $ 619   $ 564   $ 271     ($2,322 )   foreign company MACHINES organizationSEGMENT statistics     FOURTH-QUARTER 2011 (dollars in thousands and thousands) revenue   Pre-tax   Pre-tax external   interior   total revenue Margin SEGMENTS   global expertise services $ 10,452 $ 299 $ 10,751 $ 1,930 18.0 % Y-T-Y change 2.8 % 0.2 % 2.7 % 18.0 %   global enterprise functions four,877 193 5,069 841 sixteen.6 % Y-T-Y change 2.5 % -three.4 % 2.three % 14.four %   utility 7,648 851 eight,499 three,710 43.7 % Y-T-Y trade eight.7 % 9.9 % eight.eight % 12.5 %   systems and technology 5,803 186 5,989 790 13.2 % Y-T-Y alternate -7.6 % -19.eight % -8.0 % -32.6 %   international Financing 548 569 1,116 514 forty six.1 % Y-T-Y exchange -12.9 % -1.1 % -7.2 % -9.1 %   complete REPORTABLE SEGMENTS $ 29,328 $ 2,098 $ 31,425 $ 7,786 24.8 % Y-T-Y change 1.6 % 0.9 % 1.5 % 5.1 %   Eliminations / different 159 (2,098 ) (1,939 ) (512 )   complete IBM CONSOLIDATED $ 29,486 $ 0 $ 29,486 $ 7,274 24.7 % Y-T-Y trade 1.6 % 1.6 % 4.6 %     FOURTH-QUARTER 2010 (dollars in tens of millions) income Pre-tax Pre-tax external inner complete income* Margin* SEGMENTS   world technology features $ 10,165 $ 299 $ 10,464 $ 1,635 15.6 %   international traffic functions four,758 199 four,957 735 14.8 %   software 7,039 774 7,813 3,299 42.2 %   programs and expertise 6,277 232 6,509 1,173 18.0 %   global Financing 628 575 1,203 566 forty seven.0 %   total REPORTABLE SEGMENTS $ 28,867 $ 2,079 $ 30,947 $ 7,408 23.9 %   Eliminations / different 151 (2,079 ) (1,928 ) (452 )   complete IBM CONSOLIDATED $ 29,019 $ 0 $ 29,019 $ 6,956 24.0 %   * Reclassified to comply with 2011 presentation.   overseas traffic MACHINES corporationSEGMENT records     TWELVE-MONTHS 2011 (dollars in thousands and thousands) profits   Pre-tax   Pre-tax external   internal   total revenue Margin SEGMENTS   global expertise services $ forty,879 $ 1,242 $ forty two,121 $ 6,284 14.9 % Y-T-Y alternate 7.0 % -5.three % 6.6 % 14.three %   world traffic capabilities 19,284 797 20,081 3,006 15.0 % Y-T-Y change 5.8 % -0.2 % 5.6 % 18.1 %   application 24,944 3,276 28,219 9,970 35.3 % Y-T-Y exchange 10.9 % eleven.0 % 10.9 % 5.three %   methods and expertise 18,985 838 19,823 1,633 8.2 % Y-T-Y change 5.6 % 4.3 % 5.6 % 12.2 %   world Financing 2,102 2,092 4,195 2,011 forty seven.9 % Y-T-Y change -6.1 % 13.6 % 2.8 % 2.eight %   total REPORTABLE SEGMENTS $ 106,194 $ 8,246 $ 114,440 $ 22,904 20.0 % Y-T-Y exchange 7.1 % 7.0 % 7.1 % 9.5 %   Eliminations / other 722 (eight,246 ) (7,524 ) (1,901 )   complete IBM CONSOLIDATED $ 106,916 $ 0 $ 106,916 $ 21,003 19.6 % Y-T-Y exchange 7.1 % 7.1 % 6.5 %     TWELVE-MONTHS 2010 (dollars in tens of millions) profits Pre-tax Pre-tax external internal complete earnings* Margin* SEGMENTS   world expertise features $ 38,201 $ 1,313 $ 39,514 $ 5,499 13.9 %   international company functions 18,223 798 19,021 2,546 13.four %   utility 22,485 2,950 25,436 9,466 37.2 %   techniques and technology 17,973 804 18,777 1,456 7.eight %   world Financing 2,238 1,842 4,080 1,956 forty eight.0 %   total REPORTABLE SEGMENTS $ 99,a hundred and twenty $ 7,707 $ 106,827 $ 20,923 19.6 %   Eliminations / other 750 (7,707 ) (6,956 ) (1,200 )   complete IBM CONSOLIDATED $ 99,870 $ 0 $ 99,870 $ 19,723 19.7 %   * Reclassified to conform with 2011 presentation.   overseas company MACHINES corporationU.S. GAAP TO operating effects RECONCILIATION (bucks in thousands and thousands apart from per partake quantities)     FOURTH-QUARTER 2011   Acquisition-   Retirement-   related connected operating GAAP adjustments* changes** (Non-GAAP) Gross income $ 14,722 $ 81 ($10 ) $ 14,793   Gross earnings Margin forty nine.9 % 0.3Pts -0.0Pts 50.2 %   S,G&A 6,076 (82 ) 2 5,996   R,D&E 1,555 0 23 1,578   other (profits) & price (44 ) (2 ) 0 (46 )   complete rate & different (profits) 7,448 (eighty five ) 25 7,388   Pre-Tax profits 7,274 166 (35 ) 7,405   Pre-Tax earnings Margin 24.7 % 0.6Pts -0.1Pts 25.1 %   Provision for salary Taxes*** 1,784 forty seven (24 ) 1,808   helpful Tax rate 24.5 % 0.1Pts -0.2Pts 24.four %   net revenue 5,490 119 (12 ) 5,597   web profits Margin 18.6 % 0.4Pts -0.0Pts 19.0 %   Diluted revenue Per Share $ four.sixty two $ 0.10 ($0.01 ) $ four.71     FOURTH-QUARTER 2010 Acquisition- Retirement- linked linked operating GAAP changes* adjustments** (Non-GAAP) Gross profit $ 14,227 $ 82 ($60 ) $ 14,249   Gross earnings Margin 49.0 % 0.3Pts -0.2Pts forty nine.1 %   S,G&A 5,951 (95 ) 28 5,884   R,D&E 1,578 0 33 1,611   different (revenue) & fee (42 ) (2 ) 0 (44 )   total cost & different (salary) 7,271 (98 ) sixty one 7,235   Pre-Tax earnings 6,956 180 (121 ) 7,015   Pre-Tax income Margin 24.0 % 0.6Pts -0.4Pts 24.2 %   Provision for income Taxes*** 1,698 10 (forty seven ) 1,661   useful Tax fee 24.four % -0.5Pts -0.3Pts 23.7 %   web profits 5,257 170 (74 ) 5,354   web profits Margin 18.1 % 0.6Pts -0.3Pts 18.5 %   Diluted revenue Per Share $ 4.18 $ 0.14 ($0.06 ) $ 4.25 * comprises amortization of received intangible property and other acquisition-related charges. ** includes retirement-related items pushed via alterations to plot belongings and liabilities essentially concerning market performance. *** Tax impact on operating (non-GAAP) pre-tax salary is calculated below the equal accounting principles utilized to the GAAP pre-tax income which employs an annual positive tax cost manner to the results.   overseas company MACHINES organizationU.S. GAAP TO operating outcomes RECONCILIATION (dollars in tens of millions apart from per partake amounts)     TWELVE-MONTHS 2011   Acquisition-   Retirement-   linked connected operating GAAP alterations* alterations** (Non-GAAP) Gross income $ 50,138 $ 341 $ 2 $ 50,481   Gross income Margin forty six.9 % 0.3Pts 0.0Pts forty seven.2 %   S,G&A 23,594 (309 ) (13 ) 23,272   R,D&E 6,258 0 88 6,345   different (profits) & fee (20 ) (25 ) 0 (45 )   total rate & other (income) 29,one hundred thirty five (334 ) 74 28,875   Pre-Tax salary 21,003 675 (72 ) 21,605   Pre-Tax income Margin 19.6 % 0.6Pts -0.1Pts 20.2 %   Provision for earnings Taxes*** 5,148 179 (forty ) 5,287   constructive Tax fee 24.5 % 0.1Pts -0.1Pts 24.5 %   net earnings 15,855 495 (32 ) 16,318   net revenue Margin 14.8 % 0.5Pts -0.0Pts 15.three %   Diluted salary Per Share $ 13.06 $ 0.41 ($0.03 ) $ 13.forty four     TWELVE-MONTHS 2010 Acquisition- Retirement- linked related working GAAP changes* adjustments** (Non-GAAP) Gross earnings $ forty six,014 $ 260 ($204 ) $ 46,070   Gross profit Margin forty six.1 % 0.3Pts -0.2Pts 46.1 %   S,G&A 21,837 (294 ) eighty four 21,628   R,D&E 6,026 0 126 6,152   different (profits) & rate (787 ) (4 ) 0 (791 )   total expense & different (salary) 26,291 (298 ) 210 26,202   Pre-Tax earnings 19,723 558 (414 ) 19,867   Pre-Tax profits Margin 19.7 % 0.6Pts -0.4Pts 19.9 %   Provision for profits Taxes*** four,890 116 (162 ) 4,844   advantageous Tax expense 24.8 % -0.1Pts -0.3Pts 24.4 %   internet revenue 14,833 443 (253 ) 15,023   web income Margin 14.9 % 0.4Pts -0.3Pts 15.0 %   Diluted income Per Share $ eleven.fifty two $ 0.34 ($0.20 ) $ eleven.sixty seven * comprises amortization of obtained intangible belongings and other acquisition-related costs. ** contains retirement-linked items driven by using alterations to plot property and liabilities primarily regarding market efficiency. *** Tax relish an upshot on on working (non-GAAP) pre-tax salary is calculated under the identical accounting principles applied to the GAAP pre-tax earnings which employs an annual helpful tax fee manner to the consequences.

    IBM experiences 2018 Third-Quarter effects | killexams.com real Questions and Pass4sure dumps

    ARMONK, N.Y.--(enterprise WIRE)--

    IBM (IBM)

    most effective year-to-12 months outrageous Margin performance in 3 Years, Reflecting higher cost company

    Highlights

  • GAAP EPS from continuing operations of $2.94; operating (non-GAAP) EPS of $3.forty two
  • earnings of $18.eight billion, down 2 percent (flat adjusting for currency)
  • Strategic imperatives salary of $39.5 billion over remaining three hundred and sixty five days, up 13 p.c (up eleven percent adjusting for currency)
  • Cloud income of $19.0 billion over ultimate 12 months, up 20 p.c (up 18 percent adjusting for currency)
  • As-a-provider annual exit race cost for cloud income of $eleven.4 billion in the quarter, up 21 p.c yr to 12 months (up 24 % adjusting for forex)
  • strong services outrageous income margin expansion year to year
  • keeps full-year operating (non-GAAP) EPS and free money movement expectations
  • IBM (IBM) nowadays introduced third-quarter outcomes.

    "IBM's progress and momentum this 12 months in the rising, excessive-cost segments of the IT trade are pushed via their creative expertise, abysmal trade potential and commitment to relish faith and security," mentioned Ginni Rometty, IBM chairman, president and chief govt officer. "Our leadership within the technology and services that carry hybrid cloud, AI, blockchain, analytics and protection has helped pressure their customary performance, and is assisting their consumers unleash the total company value of these innovations."

      THIRD QUARTER 2018             Pre-tax     Gross Diluted net Pre-tax income profit EPS     profits     income     Margin     Margin   GAAP from carrying on with Operations $2.ninety four $2.7B $three.0B sixteen.0% 46.9% year/year   1%     -1%     -2%     0.0Pts     0.0Pts   operating (Non-GAAP) $3.42 $3.1B $3.6B 19.2% forty seven.four% yr/year   5%     three%     1%     0.5Pts     0.0Pts  

    "within the quarter, they again improved their customary operating pre-tax earnings margin year to year, and produced their strongest yr-to-12 months outrageous margin performance in three years," talked about James Kavanaugh, IBM senior vice chairman and chief fiscal officer. "on the identical time, with their mighty money technology, they extended their capital investment within the enterprise during the first three quarters and persevered to arrive back capital to shareholders."

    Strategic Imperatives revenue

    Strategic imperatives revenue over the last three hundred and sixty five days changed into $39.5 billion, up 13 percent (up eleven percent adjusting for currency). total cloud earnings over the remaining three hundred and sixty five days became $19.0 billion, up 20 % (up 18 p.c adjusting for foreign money), with $eight.1 billion from hardware, application and services to allow IBM shoppers to enforce hybrid cloud solutions across public, deepest and multi-cloud environments, and $10.9 billion delivered as a provider. The annual exit race expense for as-a-carrier income increased within the quarter to $11.four billion, up 21 p.c (up 24 p.c adjusting for forex).

    money movement and steadiness Sheet

    in the third quarter, the company generated web money from working activities of $four.2 billion, or $three.1 billion, with the exception of international Financing receivables. IBM’s free cash current changed into $2.2 billion. IBM returned $2.1 billion to shareholders through $1.4 billion in dividends and $0.6 billion in outrageous partake repurchases. on the conclusion of September 2018, IBM had $1.four billion closing within the latest partake repurchase authorization.

    IBM ended the third quarter with $14.7 billion of cash handy. Debt totaled $46.9 billion, including international Financing debt of $30.four billion. The balance sheet continues to exist robust and is well located for the long run.

    segment outcomes for Third Quarter

  • Cognitive options (comprises solutions application and transaction processing utility) -- revenues of $4.1 billion, down 6 % (down 5 percent adjusting for currency), with enlarge in Watson fitness, security solutions, and key strategic areas in analytics.
  • world traffic functions (comprises consulting, application management and international manner services) -- revenues of $four.1 billion, up 1 % (up 3 p.c adjusting for forex), led by means of consulting. outrageous earnings margin elevated 270 groundwork features.
  • expertise features & Cloud systems (includes infrastructure capabilities, technical assist functions and integration software) -- revenues of $eight.three billion, down 2 percent (flat yr to 12 months adjusting for foreign money), with growth in cloud revenue. outrageous profit margin accelerated 120 basis points.
  • programs (contains methods hardware and working methods application) -- revenues of $1.7 billion, up 1 percent (up 2 p.c adjusting for currency), driven via enlarge in vim and IBM Z.
  • global Financing (includes financing and used device income) -- revenues of $388 million, down 9 % (down 7 p.c adjusting for currency).
  • Full-yr 2018 Expectations

    The enterprise expects working (non-GAAP) diluted income per partake of at least $13.80, and GAAP diluted earnings per partake of at least $eleven.60. working (non-GAAP) diluted salary per partake exclude $2.20 per partake of fees for amortization of bought intangible property, different acquisition-related expenses, retirement-connected prices and anyone-time influences from the enactment of U.S. Tax Reform. GAAP expectations exclude any fourth-quarter one-time affects from the enactment of U.S. Tax Reform.

    IBM expects free money current of approximately $12 billion, with a recognition cost enhanced than 100%.

    12 months-To-Date 2018 consequences

    Consolidated diluted salary per partake from carrying on with operations turned into $7.36 compared to $7.24, up 2 p.c 12 months to 12 months. Consolidated web earnings become $6.8 billion, flat year to yr. Revenues for the 9-month term totaled $57.8 billion, an enlarge of 2 p.c yr to yr (flat year to yr adjusting for currency), in comparison with $fifty six.6 billion for the first 9 months of 2017.

    working (non-GAAP) diluted revenue per partake from continuing operations turned into $8.ninety six in comparison with $eight.fifty four per diluted partake for the 2017 length, a soar of 5 p.c. operating (non-GAAP) web income for the 9 months ended September 30, 2018 turned into $eight.2 billion in comparison with $eight.0 billion within the year-ago period, an enlarge of 3 percent.

    forward-looking and Cautionary Statements

    except for the historical suggestions and discussions contained herein, statements contained in this unlock can likewise constitute forward-searching statements inside the which means of the deepest Securities Litigation Reform Act of 1995. ahead-searching statements are based on the enterprise’s current assumptions regarding future traffic and fiscal performance. These statements contain a couple of risks, uncertainties and different components that may antecedent specific effects to vary materially, including the following: a downturn in fiscal environment and customer spending budgets; the business’s failure to answer growth and productivity pursuits; a failure of the company’s innovation initiatives; damage to the enterprise’s reputation; risks from investing in enlarge alternatives; failure of the business’s highbrow property portfolio to obviate aggressive choices and the failure of the traffic to attain captious licenses; cybersecurity and statistics privacy considerations; fluctuations in fiscal consequences, relish an impact on of autochthonous felony, financial, political and health conditions; adversarial consequences from environmental concerns, tax matters and the enterprise’s pension plans; ineffective inside controls; the company’s employ of accounting estimates; the company’s skill to appeal to and retain key employees and its reliance on captious talents; impacts of relationships with principal suppliers; product distinguished concerns; influences of traffic with executive purchasers; foreign money fluctuations and client financing risks; relish an upshot on of adjustments in market liquidity conditions and client credit score random on receivables; reliance on third birthday celebration distribution channels and ecosystems; the enterprise’s skill to efficaciously exploit acquisitions, alliances and dispositions; hazards from felony proceedings; possibility components involving IBM securities; and other hazards, uncertainties and factors discussed in the enterprise’s kind 10-Qs, form 10-okay and in the company’s other filings with the U.S. Securities and exchange commission (SEC) or in substances included therein with the aid of reference. Any forward-searching statement in this unencumber speaks handiest as of the date on which it's made. The company assumes no responsibility to update or revise any forward-looking statements.

    Story Continues

    Presentation of tips during this Press unencumber

    so as to give investors with more information regarding the company’s results as decided by means of often accredited accounting ideas (GAAP), the company has additionally disclosed in this press unencumber birthright here non-GAAP tips which management believes gives useful tips to buyers:

    IBM outcomes --

  • featuring working (non-GAAP) earnings per partake quantities and connected profits observation items;
  • adjusting for gratis money circulation;
  • adjusting for currency (i.e., at consistent currency).
  • Free cash circulate information is derived the usage of an assess of income, working capital and operational cash outflows. The company views international Financing receivables as a profit-generating investment, which it seeks to maximize and for this reason it is not regarded when formulating counsel without imbue cash flow. subsequently, the enterprise doesn't assess a GAAP net cash from Operations expectation metric.

    The antecedent for management’s employ of those non-GAAP measures is blanketed in demonstrate ninety nine.2 within the shape 8-k that includes this press release and is being submitted today to the SEC.

    convention name and Webcast

    IBM’s customary quarterly profits conference name is scheduled to start at 5:00 p.m. EDT, nowadays. The Webcast can exist accessed by means of a hyperlink at http://www.ibm.com/investor/routine/revenue/3q18.html. Presentation charts could exist accessible presently earlier than the Webcast.

    fiscal outcomes under (certain amounts may additionally no longer add due to employ of rounded numbers; percentages introduced are calculated from the underlying whole-dollar quantities).

    foreign enterprise MACHINES corporation COMPARATIVE fiscal consequences (Unaudited; greenbacks in millions except per partake quantities)     Three Months Ended   9 Months Ended September 30, September 30, 2018   2017 2018   2017   profits Cognitive options $   4,148 $   4,four hundred $   13,027 $   13,021 international traffic capabilities four,130 4,093 12,495 12,196 expertise capabilities & Cloud platforms 8,292 8,457 25,533 25,079 programs 1,736 1,721 5,412 4,863 global Financing 388 427 1,188 1,246 different     sixty two       56       176       192   complete revenue 18,756 19,153 fifty seven,830 56,597   GROSS earnings 8,803 eight,981 * 26,249 25,894 *   GROSS income MARGIN Cognitive solutions 76.0 % 78.7 % * seventy six.7 % seventy eight.3 % * global company functions 29.8 % 27.1 % * 26.three % 25.1 % * technology capabilities & Cloud structures 42.1 % forty.9 % * 39.9 % forty.1 % * systems 52.7 % fifty three.6 % * 49.three % fifty one.5 % * global Financing 26.3 % 25.2 % * 29.1 % 29.2 % *   complete outrageous profit MARGIN forty six.9 % 46.9 % * forty five.4 % forty five.eight % *     price AND other revenue S,G&A 4,363 four,606 * 14,665 14,666 * R,D&E 1,252 1,291 * four,021 four,212 * highbrow property and custom construction profits (275 ) (308 ) (842 ) (1,118 ) different (income) and price 275 159 * 968 751 * pastime expense     191       168       530       451   complete cost AND other earnings 5,807 5,917 * 19,341 18,962 *   income FROM continuing OPERATIONS earlier than income TAXES 2,996 3,065 6,908 6,931 Pre-tax margin sixteen.0 % sixteen.0 % 11.9 % 12.2 % Provision for salary taxes 304 339 138 120 useful tax fee 10.2 % eleven.0 % 2.0 % 1.7 %   salary FROM continuing OPERATIONS $ 2,692 $ 2,726 $ 6,770 $ 6,811 DISCONTINUED OPERATIONS income/(Loss) from discontinued operations, net of taxes     2       0       7       (three )   web income $   2,694   $   2,726   $   6,777   $   6,807     salary PER partake OF typical inventory: Assuming Dilution continuing Operations $ 2.94 $ 2.92 $ 7.36 $ 7.24 Discontinued Operations $   0.00   $   0.00   $   0.01   $   0.00   total $   2.ninety four   $   2.ninety two   $   7.37   $   7.24     simple carrying on with Operations $ 2.ninety five $ 2.ninety three $ 7.39 $ 7.28 Discontinued Operations $   0.00   $   0.00   $   0.01   $   0.00   total $   2.95   $   2.93   $   7.forty   $   7.28     WEIGHTED-typical number of typical SHARES outstanding (M's): Assuming Dilution 915.2 933.2 920.0 940.2 fundamental 911.2 929.four 915.6 935.6   * Recast to reflect adoption of the FASB tips on presentation of internet postretirement capitalize cost.   foreign company MACHINES agency CONDENSED CONSOLIDATED stability SHEET (Unaudited)   At   At (dollars in tens of millions) September 30, December 31, 2018 2017 belongings:   present belongings: money and cash equivalents $   eleven,563 $   11,972 limited cash 168 262 * Marketable securities 2,932 608 Notes and bills receivable - trade, web 7,071 8,928 brief-term financing receivables, net 19,249 21,721 different money owed receivable, net 767 981 inventory 1,893 1,583 Deferred expenses 2,227 1,820 ** prepaid expenses and different current assets     2,388       1,860   * ** total present belongings forty eight,257 forty nine,735   Property, plant and gadget, web 10,949 11,116 lengthy-term financing receivables, web eight,179 9,550 prepaid pension assets 5,655 4,643 Deferred charges 2,581 2,136 ** Deferred taxes four,436 4,862 Goodwill and intangibles, net 39,660 forty,531 Investments and sundry belongings     2,272       2,783   ** total assets $   121,990   $   a hundred twenty five,356     LIABILITIES:   current Liabilities: Taxes $ 2,502 $ 4,219 short-term debt 10,932 6,987 money owed payable 5,384 6,451 Deferred salary 10,704 eleven,552 other liabilities     7,300       8,153   complete existing Liabilities 36,822 37,363   long-term debt 35,989 39,837 Retirement connected obligations 15,774 sixteen,720 Deferred income 3,507 3,746 other liabilities     9,979       9,965   complete Liabilities 102,071 107,631   fairness:   IBM Stockholders' fairness: standard stock fifty four,987 54,566 Retained income 158,612 153,126 Treasury stock -- at charge (a hundred sixty five,995 ) (163,507 ) accumulated different finished income/(loss)     (27,820 )     (26,592 ) total IBM Stockholders' fairness 19,784 17,594   Noncontrolling pursuits     134       131   total equity     19,918       17,725   complete Liabilities and equity $   121,990   $   125,356     * Recast to replicate adoption of the FASB assistance on constrained money. ** Recast to conform to existing duration presentation.   foreign company MACHINES organization money movement evaluation (Unaudited)     Three Months Ended   nine Months Ended (greenbacks in thousands and thousands) September 30, September 30, 2018   2017 2018   2017   net money provided by means of operating actions per GAAP: $   4,232 $   three,570 $   11,128 $   10,991   much less: alternate in international Financing (GF) Receivables 1,096 258 2,874 2,468 Capital expenses, net (942 ) (780 ) (2,839 ) (2,347 )   Free money movement 2,194 2,532 5,415 6,176   Acquisitions (1 ) (274 ) (123 ) (442 ) Divestitures - 6 - 35 Dividends (1,431 ) (1,396 ) (4,250 ) (4,119 ) Share Repurchase (627 ) (949 ) (2,393 ) (three,674 ) Non-GF Debt 2,218 (467 ) 1,607 1,896 other (comprises GF internet Receivables and GF Debt) 382 (216 ) * 1,564 three,124 *   change in cash, cash Equivalents, restrained cash and brief-time term Marketable Securities $   2,736       ($763 ) * $   1,820   $   2,995   *   * Recast to mirror adoption of the FASB information on restricted money.   foreign traffic MACHINES corporationmoney circulation (Unaudited)   Three Months Ended   nine Months Ended (bucks in hundreds of thousands) September 30, September 30, 2018   2017 2018   2017   net income from Operations $   2,694 $   2,726 $   6,777 $   6,807 Depreciation/Amortization of Intangibles 1,138 1,a hundred seventy five three,368 three,392 inventory-primarily based Compensation 129 123 371 388 Working Capital / other (825 ) (713 ) (2,261 ) (2,064 ) international Financing A/R 1,096 258 2,874 2,468 net cash provided by means of working actions $ 4,232 $ 3,570 $ eleven,128 $ 10,991 Capital fees, web of funds & proceeds (942 ) (780 ) (2,839 ) (2,347 ) Divestitures, web of money transferred - 6 - 35 Acquisitions, net of money got (1 ) (274 ) (123 ) (442 ) Marketable Securities / other Investments, net (2,026 ) (858 ) * (2,406 ) (517 ) * net cash used in Investing actions ($2,969 ) ($1,906 ) * ($5,368 ) ($3,271 ) * Debt, web of funds & proceeds 1,595 (446 ) 845 2,310 Dividends (1,431 ) (1,396 ) (four,250 ) (4,119 ) common stock Repurchases (627 ) (949 ) (2,393 ) (3,674 ) ordinary inventory Transactions - other 26 35 (sixty six ) (15 ) internet cash used in Financing activities ($437 ) ($2,756 ) ($5,864 ) ($5,499 ) effect of change expense alterations on money (55 ) 328 (399 ) 875 web exchange in cash, money Equivalents and restrained cash $ 771 ($764 ) * ($503 ) $ 3,096 *   * Recast to mirror adoption of the FASB information on constrained money.   foreign company MACHINES organizationSEGMENT records (Unaudited)  

    THIRD - QUARTER 2018

        technology     world features & (greenbacks in thousands and thousands) Cognitive company Cloud international options   capabilities   systems   systems   Financing revenue external $   4,148 $   4,130 $   8,292 $   1,736 $   388 interior     639         77         240         181         338   complete angle earnings $ four,787 $ four,207 $ 8,533 $ 1,917 $ 726   Pre-tax salary from carrying on with Operations 1,629 579 1,075 209 308   Pre-tax margin 34.0 % 13.eight % 12.6 % 10.9 % 42.5 %     alternate YTY income - exterior (5.7 )% 0.9 % (1.9 )% 0.9 % (9.0 )% alternate YTY revenue - exterior @regular forex (four.6 )% 2.5 % 0.2 % 1.8 % (7.1 )%    

    THIRD - QUARTER 2017

    know-how international services & (greenbacks in hundreds of thousands) Cognitive company Cloud global solutions   capabilities   structures   systems   Financing salary external $ 4,400 $ 4,093 $ 8,457 $ 1,721 $ 427 inside     629         ninety two         164         227         272   complete segment income $ 5,030 $ 4,185 $ 8,621 $ 1,948 $ 698   Pre-tax salary from continuing Operations * 1,643 442 1,177 337 243   Pre-tax margin * 32.7 % 10.6 % 13.7 % 17.three % 34.8 %   * Recast to reflect adoption of the FASB tips on presentation of web postretirement capitalize cost.   foreign company MACHINES organizationSEGMENT records (Unaudited)   nine - MONTHS 2018     know-how     world features & (greenbacks in hundreds of thousands) Cognitive enterprise Cloud world solutions   services   structures   techniques   Financing income external $   13,027 $   12,495 $   25,533 $   5,412 $   1,188 internal     2,122         249         550         576         1,240   total segment salary $ 15,149 $ 12,744 $ 26,083 $ 5,989 $ 2,428   Pre-tax earnings from continuing Operations 4,718 1,109 2,395 352 1,042   Pre-tax margin 31.1 % 8.7 % 9.2 % 5.9 % 42.9 %     exchange YTY income - external 0.0 % 2.four % 1.8 % eleven.three % (4.7 )% exchange YTY income - external @constant forex (1.four )% 0.5 % (0.1 )% 9.9 % (5.eight )%     9 - MONTHS 2017 expertise global services & (greenbacks in millions) Cognitive enterprise Cloud international solutions   functions   platforms   systems   Financing revenue exterior $ 13,021 $ 12,196 $ 25,079 $ four,863 $ 1,246 inside     2,001         271         497         571         925   total section earnings $ 15,022 $ 12,467 $ 25,576 $ 5,434 $ 2,171   Pre-tax income from carrying on with Operations * 4,522 1,035 2,845 222 835   Pre-tax margin * 30.1 % eight.three % eleven.1 % four.1 % 38.5 %   * Recast to mirror adoption of the FASB recommendation on presentation of web postretirement odds cost.   overseas traffic MACHINES companyU.S. GAAP TO working (Non-GAAP) outcomes RECONCILIATION (Unaudited; greenbacks in tens of millions except per partake amounts)   THIRD - QUARTER 2018 continuing OPERATIONS   Acquisition-   Retirement-   Tax Reform   connected related One-Time operating GAAP alterations* changes** influence (Non-GAAP)   Gross profit $   8,803 $   96   -   - $   8,899   Gross profit Margin 46.9 % 0.5Pts - - 47.four %   S,G&A four,363 (112 ) - - 4,251   R,D&E 1,252 - - - 1,252   other (salary) & fee 275 (1 ) (389 ) - (115 )   complete fee & other (revenue) 5,807 (113 ) (389 ) - 5,304   Pre-tax salary from carrying on with Operations 2,996 209 389 - 3,594   Pre-tax earnings Margin from continuing Operations 16.0 % 1.1Pts 2.1Pts - 19.2 %   Provision for salary Taxes*** 304 56 100 - 460   advantageous Tax expense 10.2 % 1.0Pts 1.7Pts - 12.8 %   earnings from continuing Operations 2,692 153 289 - three,134   profits Margin from carrying on with Operations 14.4 % 0.8Pts 1.5Pts - 16.7 %   Diluted salary Per Share: continuing Operations $ 2.94 $ 0.17 $ 0.31 - $ three.forty two     THIRD - QUARTER 2017 carrying on with OPERATIONS Acquisition- Retirement- connected connected operating GAAP adjustments* alterations** (Non-GAAP)   Gross income $ eight,981 $ 114 - $ 9,095   Gross income Margin 46.9 % 0.6Pts - forty seven.5 %   S,G&A 4,606 (one hundred twenty five ) - four,482   R,D&E 1,291 - - 1,291   different (salary) & fee 159 - (273 ) (114 )   complete cost & other (profits) 5,917 (125 ) (273 ) 5,519   Pre-tax salary from carrying on with Operations 3,065 238 273 3,576   Pre-tax earnings Margin from continuing Operations 16.0 % 1.2Pts 1.4Pts 18.7 %   Provision for earnings Taxes*** 339 79 113 531   effective Tax expense eleven.0 % 1.5Pts 2.3Pts 14.eight %   revenue from carrying on with Operations 2,726 159 160 three,045   revenue Margin from continuing Operations 14.2 % 0.8Pts 0.8Pts 15.9 %   Diluted revenue Per Share: carrying on with Operations $ 2.92 $ 0.17 $ 0.17 $ three.26

    * contains amortization of bought intangible assets, in manner R&D, severance can imbue for bought personnel, vacant house for bought groups, deal costs and acquisition integration tax fees.

    ** includes retirement-connected pastime charge, anticipated return on procedure belongings, identified actuarial losses or positive aspects, amortization of transition property, other settlements, curtailments, amortization of prior service cost and insolvency insurance. 2017 adjustments had been recast to reflect the adoption of the FASB information on net postretirement capitalize can charge.

    *** Tax impact on operating (non-GAAP) pre-tax income from carrying on with operations is calculated below the identical accounting ideas utilized to the As mentioned pre-tax salary under ASC 740, which employs an annual positive tax cost components to the effects.

      overseas traffic MACHINES organizationU.S. GAAP TO operating (Non-GAAP) outcomes RECONCILIATION (Unaudited; greenbacks in millions apart from per partake quantities)   9 - MONTHS 2018 continuing OPERATIONS   Acquisition-   Retirement-   Tax Reform   linked related One-Time working GAAP alterations* adjustments** have an impact on (Non-GAAP)   Gross income $   26,249 $   283   -   - $   26,531   Gross profit Margin forty five.4 % 0.5Pts - - forty five.9 %   S,G&A 14,665 (332 ) - - 14,333   R,D&E 4,021 - - - four,021   other (profits) & price 968 (1 ) (1,185 ) - (219 )   total expense & other (profits) 19,341 (333 ) (1,185 ) - 17,822   Pre-tax profits from continuing Operations 6,908 616 1,185 - 8,709   Pre-tax revenue Margin from carrying on with Operations eleven.9 % 1.1Pts 2.0Pts - 15.1 %   Provision for profits Taxes*** 138 138 285 (93 ) 468   effective Tax fee 2.0 % 1.4Pts 3.0Pts (1.1)Pts 5.4 %   salary from continuing Operations 6,770 478 900 93 eight,241   salary Margin from carrying on with Operations eleven.7 % 0.8Pts 1.6Pts 0.2Pts 14.2 %   Diluted income Per Share: carrying on with Operations $ 7.36 $ 0.52 $ 0.ninety eight $ 0.10 $ eight.ninety six     nine - MONTHS 2017 carrying on with OPERATIONS Acquisition- Retirement- linked linked working GAAP changes* adjustments** (Non-GAAP)   Gross earnings $ 25,894 $ 349 - $ 26,243   Gross profit Margin 45.eight % 0.6Pts - forty six.four %   S,G&A 14,666 (393 ) - 14,273   R,D&E four,212 - - 4,212   other (income) & fee 751 (7 ) (969 ) (225 )   complete rate & other (salary) 18,962 (401 ) (969 ) 17,593   Pre-Tax revenue from continuing Operations 6,931 750 969 eight,650   Pre-tax salary Margin from continuing Operations 12.2 % 1.3Pts 1.7Pts 15.three %   Provision for salary Taxes*** a hundred and twenty 212 288 621   beneficial Tax price 1.7 % 2.3Pts 3.1Pts 7.2 %   income from continuing Operations 6,811 537 681 8,030   profits Margin from carrying on with Operations 12.0 % 0.9Pts 1.2Pts 14.2 %   Diluted salary Per Share: continuing Operations $ 7.24 $ 0.57 $ 0.73 $ 8.fifty four

    * comprises amortization of purchased intangible property, in technique R&D, severance can imbue for got employees, vacant area for obtained corporations, deal expenses and acquisition integration tax fees.

    ** contains retirement-related interest can charge, anticipated return on procedure assets, diagnosed actuarial losses or beneficial properties, amortization of transition belongings, other settlements, curtailments, amortization of prior provider cost and insolvency coverage. 2017 alterations were recast to mirror the adoption of the FASB suggestions on internet postretirement improvement can charge.

    *** Tax influence on working (non-GAAP) pre-tax income from carrying on with operations is calculated beneath the equal accounting ideas utilized to the As said pre-tax earnings beneath ASC 740, which employs an annual helpful tax fee formulation to the consequences.

      foreign company MACHINES companyRECONCILIATION OF operating income PER SHARE (Unaudited)       2018

    EPS information

    expectationsGAAP Diluted EPS at the least $11.60 working EPS (non-GAAP) at least $13.eighty     changes   Acquisition-connected charges * $0.seventy eight   Non-working Retirement-connected objects $1.32   yr-to-Date Tax Reform One-time charge $0.10   * includes acquisitions as of September 30, 2018

    View supply edition on businesswire.com: https://www.businesswire.com/information/domestic/20181016006038/en/


    IBM Patents Blockchain gadget to Create ‘have faith’ Between AR video game gamers, real World places | killexams.com real Questions and Pass4sure dumps

    essential world tech giant IBM has applied for a different blockchain patent, this time aiming to deter augmented fact (AR) video game players from intruding on undesirable areas. The tech enterprise’s latest patent document become released through the U.S. Patent and Trademark workplace (USPTO) on Thursday, Nov. 1.

    within the patent, IBM, likewise known as expansive Blue, describes a blockchain-based system and system of interactions between a AR-running cell machine and locational database as a artery to set and preserve safe boundaries between AR objects and true-world physical areas. in keeping with the document, a disbursed ledger is decided to constantly maintain a transforming into record of records facts protected from forgery and transformations.

    according to a blockchain-powered region database, the “exemplary formula” AR-video game enables mobile devices to acquire a sign about no matter if a determined area on AR is undesirable. additionally, the described device is capable of adjust certain AR objects that are indicated as undesirable, likewise showing them on cell contraptions.

    within the patent, IBM offers a brief description of augmented fact, mentioning that any such ilk of gaming is tied to a area that is overlaid via pictures of more video game items akin to characters, materials, or inner online game places. by means of applying the current blockchain patent, IBM can deliver a assure of “have confidence” between precise world areas and placement-based mostly AR games.

    international company Machines organisation, or IBM, is among the biggest providers of blockchain-connected patent applied sciences in the world when it comes to the number of applied patents. Having filed a total of 89 blockchain patent via Aug. 31, the tech giant took 2nd vicinity after China’s Alibaba with ninety patent functions.

    In mid-October, Cointelegraph released an evaluation committed to the historical past of IBM blockchain patents in a few industries, similar to logistics, information superhighway of issues (IoT), blockchain hardware, and others.




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    Travelport Worldwide (TVPT) Q3 2018 Earnings Conference summon Transcript | killexams.com real questions and Pass4sure dumps

    Logo of jester cap with thought bubble with words 'Fool Transcripts' below it© The Motley Fool Logo of jester cap with thought bubble with words 'Fool Transcripts' below it

    Travelport Worldwide(NYSE: TVPT)

    Q3 2018 Earnings Conference Call

    Nov. 1, 2018 8:30 a.m. ET

    Contents:
  • Prepared Remarks
  • Questions and Answers
  • Call Participants
  • Prepared Remarks:

    Operator

    Hello, and welcome to the Travelport third-quarter 2018 earnings conference call. [Operator instructions] gratify note, this conference is being recorded. Now I would relish to circle the conference over to Mr. Majid Nazir, head of investor relations for Travelport.

    Majid Nazir -- Head of Investor Relations

    Thank you, Kelly, and first-rate morning, everyone. Many thanks for joining us on their third-quarter 2018 earnings call. Earlier this morning, they issued an earnings press release, which together with a slide presentation accompanying today's prepared remarks, are available on their website at ir.travelport.com. Following the completion of today's call, a replay will likewise exist available on their website, where it will remain for a term of one year.

    Participating today's call, Gordon Wilson, their president and chief executive officer, and Bernard Bot, their chief fiscal officer. Before they begin, I'd relish to highlight that throughout today's call, we'll discuss certain non-GAAP fiscal measures. In their earnings press release, slides accompanying this webcast, and their filings with the SEC, you'll find additional disclosures regarding these non-GAAP fiscal measures, including reconciliations of these measures with comparable GAAP measures as required by the SEC. I would likewise relish to remind participants that the following discussion and responses to your questions reflects management's views only as of today and will comprise forward-looking statements.

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    These statements involve risks and uncertainties that may antecedent actual results to differ materially from the statements made on today's conference call. Additional information about factors that could potentially impact their fiscal results are included in today's press release and their filings with the SEC. So with my introduction now concluded, let me circle the summon over to Gordon.

    Gordon Wilson -- President and Chief Executive Officer

    Thank you, Maj. Hello everyone and let me add my welcome to you everything this morning. Bernard's going to filch you through the detail on their fiscal results for the quarter, but first I want to glimpse at how they -- what we've delivered in Q3, and the artery in which we've driven their strategy. At the quit of their prepared remarks, as they said, we'll filch your questions as usual.

    Now for those of you following the slide presentation, I'm on slide 4. For Quarter 3, I'm pleased to report that their year-over-year adjusted EBITDA was up 2%, while their net revenue was likewise up 2% in the quarter. On a year-to-date September basis, their net revenue was up 5%, while their adjusted EBITDA is essentially flat. These results, as you'll recall, absorb the impact of one account loss they suffered in the Pacific in 2017.

    Travelport has had to gain up $85 million of revenue and $45 million of adjusted EBITDA headwinds for the complete year 2018, due to this account. And in the quarter and year to date, this has had a negative impact of 4 percentage points on revenue and 9 percentage points on adjusted EBITDA. Quarter 3, therefore, is a equable performance, not only because we've overcome the account loss by winning and implementing current business, but likewise because we've done it against a backdrop of a challenging demand environment in some large travel markets outside of the United States. As they spoke about in their last earnings call, as anticipated, they saw softer leisure demand in the third quarter, because of the long and untypical heat wave in Northern Europe, a region where we've outperformed in recent times.

    Furthermore, they are seeing the ripple upshot coming to -- into their results of some other specific customer events, such as the conclusion that they took to terminate their contracts with the European online travel agency due to what they believe is a infringement of its contractual terms with us. This was ill-started given that we've grown particularly well with them in the first half of this year. At the identical time, there are some extremely exciting developments in terms of recently announced deals of content and client wins that they believe will position us very well into 2020, especially as they initiate to ramp up to 2019. As we'll record shortly, Travelport's announced this quarter a entire string of current offerings to the market.

    From a state-of-the-art data and analytics product developed with IBM, using simulated intelligence to assuage corporations better manage and procedure corporate travel spend, to becoming the first global GDS platform to implement an airline using IATA's NDC API to facilitate real customer bookings through this different mechanism. We've likewise signed some landmark deals delivering us an even stronger proposition for the second largest GDS market in the world, which is India, and that will initiate to ramp up in 2019. We've likewise had some distinguished advice on current airline deals for their U.S. customers.

    We continue to lead in airline merchandising, in mobile travel apps, and in the employ of simulated intelligence and machine learning in their search and speedy response. Mitigating some of the headwinds we're experiencing with some specific customers [Inaudible] current customer wins and partake of wallet expansions in Travelport's favor in both the online and corporate travel sectors. So to recap the fiscal results for the quarter, net revenue is up 2% to $623 million, with adjusted EBITDA growth of 2% to $139 million. Their adjusted EBITDA margin was up -- was stable year over year at 22.4%.

    Adjusted net income was up 77% in the quarter to $40 million as expected, and largely due to lower tax and interest charges year over year. Their diluted adjusted earnings per partake were therefore $0.31 for the quarter, up 74% year over year. Splitting down their revenue, air declined 3% year over year, and clearly, we've lost partake in Australia and current Zealand. And the online travel agency customer whose contract was terminated was European-based, and so those bookings relish ceased in Quarter 3.

    These two events relish Somewhat masked that Travelport gained air market share in both Asia and Latin America in the quarter, as well as in several key European markets, including Spain, Germany, Sweden, and the Netherlands. They actually grew their partake of the top 200 online travel agencies across the world by 60 basis points. And further to this, we're winning current traffic in corporate travel, which they expect to continue as some exciting current positive developments relish rolled out. More about this shortly.

    Beyond Air continues to perform well. And this quarter, they redeem 30% of their travel commerce platform revenues. Revenues in the quarter were up 14%, driven by another standout performance from their payments business, eNett. This traffic grew its revenue by 58%, which is essentially the result of continued market growth in eNett's travel agency customers as well as eNett's own partake of wallet penetration within those customers, especially some of the larger OTAs in Europe and Asia.

    So for the forward look, their performance this quarter means that they remain on track to topple within the fiscal guidance sweep they gave you at the start of the year. The market and specific customer headwinds I referenced earlier weigh in they expect that we'll exist more likely at the lower quit of their ranges for revenue, adjusted EBITDA, and free cash flow. They believe that eNett will continue to perform strongly, but against harder comparables as they traipse forward. And therefore, they remain cozy with the revised full-year growth that they gave at the quit of last quarter, which will exist over 50% in revenue terms.

    So let me now circle to slide 5 and give you a diminutive more detail on the elements of their strategy that they delivered in this quarter. Their traffic investments and their orientation are to ensure that they fill it through and capitalize from the changes happening in the travel industry in three specific areas. First, we're delivering the broadest and richest travel content on an integrated basis for their customers. Second, we're leveraging data and their various technology-led innovations to drive travel agency and corporate travel productivity and efficiency.

    And finally, they are focusing on next-generation technologies to drive the current world of how travel is being searched, booked, and managed, and the channels through which this is occurring. And we've got sturdy momentum in everything of these areas. So I'll add on the progress on each -- on this each quarter -- of this quarter, I should say, starting with their expanded content and merchandising leadership. In Quarter 3, they signed current long-term deals with several of their key partners, including United Airlines, Southwest Airlines, and Etihad.

    The deal with United means that everything of their major U.S. airline contracts relish been renewed and advanced to 2019. Their current deal with Southwest, one of the world's top 10 airlines is measured by passengers boarded, is a real boost for their travel agency customers, especially those involved in corporate and U.S. government business, who requisite and depend on this content.

    The Etihad deal really underscores the purpose of Travelport's strategic direction, since the current agreement includes continued employ of their airline merchandising tools, including moneyed content and branding; the employ of ancillaries such as paid bags and indeed sponsored flights by Etihad; as well as their employ of their cloud-based, traffic intelligence solutions for airlines. In addition, Etihad has renewed and extended its contract with Travelport Digital to continue delivery innovated mobile services to its passengers. The Etihad app, which Travelport designed, built, and runs for Etihad in the AWS cloud is 5-star rated by its customers. In India and beyond, we've added to their unique position as the only GDS platform in which IndiGo distributes its content by signing up an exclusive deal with Air India, which will kick in during 2019.

    This is the result of winning a tender to become their sole GDS supplier. And regarded to this, a current long-term deal including complete content and merchandising capabilities with Jet Airways, which will commence in April 2019. In the first nine months of this year, their traffic in India grew by 26%, in a market which itself grew at 18%. Indicating the partake gains we're seeing from the likes of Yatra, PayTM, and MakeMyTrip.

    Having further differentiated their content capability to this vibrant market, they believe that they will continue to expand their leadership both in India and in the countries with large Indian investments and people inflows and outflows. In terms of enabling their airline customers to dispense the products in the artery they desire, this quarter, they delivered further on their aptitude to consume content for airlines in which to deliver some of it via the API standards of IATA's current distribution capability or NDC. As the first major platform to gain certification of the highest plane as an aggregator by IATA, we're now likewise the first to deliver a live product, enabling their agencies to search and bespeak content delivered on to their platform from the NDC API in real time. Now we're not at the quit of the journey here in terms of the changing manner in which airline content is delivered and processed by their platform, Travelport is now gaining the first real insights as to what works with professional travel agencies at scale.

    As I leave the updates on content leadership, it's worthwhile again pointing out that over 270 airlines are fully implemented in Travelport, with the aptitude to point to and merchandise their complete sweep of products and ancillaries with moneyed content and branding. This continues to exist considerably more than their nearest competitor and this sort of content delivered to their hybrid cloud solution is one of the reasons they are gaining partake with current customers, and expanding their partake of wallet with many existing customers. I referenced earlier the requisite to employ their technology and data to drive efficiency and productivity. This quarter, the results of some of their investments into data analytics and simulated intelligence arrived in the shape of tangible products for their customers.

    The standout for the corporate travel market is travel manager, which they relish developed in partnership with IBM. This is they believe an industry-first simulated intelligence platform designed to assuage businesses manage their corporate travel spend, using IBM's coveted engine capabilities to track, manage, predict, and analyze travel costs in one place, while being populated with real-time pricing data for benchmarking and disburse information from Travelport. The tool has received exceptional initial feedback and interest, and we're excited about the break this gives us in the marketplace as they build further out their proposition for corporate travel. In hotels, their latest iteration of how travel agencies can easily bespeak and behold the complete sweep of products that hoteliers tender took another step forward with their hotel retail app, which is nested within their travel agency point of sale, known as Smartpoint.

    This app enables travel agencies using Travelport to behold public rates, loyalty member rates, corporate negotiated rates, prepaid and postpay rates, and, indeed, Travelport exclusive rates, everything in one easy-to-navigate user experience. It integrates maps, pictures of the hotels, and even reviews. The proposition is that making everything this content available in one space and making it facile to book, will drive greater hotel attachments, while giving better service to the customer and driving better revenue for the travel agency. They added another dimension here to the proposition by adding to their Trip Assist mobile app the prompting for a traveler to bespeak a hotel if his or her itinerary includes an overnight stay, with a curated selection of hotels available at their destination.

    Travelport believes that the adoption of eNett by their customers is driving significant productivity, efficiency, and fiscal benefits to them. Indeed a survey published last month by Cowen of 200 travel agencies across a select number of the markets, stated and I quote, "that Travelport's eNett payments traffic is now a top five payment method." eNett has grown its revenue by 72% year over year in the last nine months. By the quit of this year, it should surpass $300 million in annual revenue, which is nearly 5 times the revenue it had in 2014. The third constituent of their strategic focus is how we're edifice current capabilities and differentiating their platform in the market by leveraging next-generation technologies.

    I've spoken in earlier calls about how Travelport, certainly among their peers, has been an early adopter of cloud capabilities. Their data analytics services and their entire mobile platform is running the AWS cloud while we've implemented a hybrid cloud with Microsoft in their Azure product to reduce latency, enhance speed, and enable us to ramp up faster for their travel commerce platform customers. Their employ of simulated intelligence and machine learning has contributed to a more than 30% improvement year to date in their global medium search response time. With many of their dual or indeed tri-automated customers telling us that they are now leading in this aspect of the delivery of their platform.

    It's certainly one of the reasons, alongside the differentiate content they have, that they are winning partake of wallet in current business, especially with OTAs. And to continue to enhance our offering, they are sedulous rolling out their next generation of APIs, which here at Travelport we're calling trip services. These are lighter-weight APIs, through which they convey their content to third parties using next-generation capabilities. They are easier to code to and faster.

    And their strategy is that once everything the functionality they deliver is covered, [Inaudible] the identical set as trip service APIs that drive their own mobile platform and travel agency point-of-sale desktop as they gain available to online travel agencies and third-party corporate bookings tool providers. Trip services are indeed live and in production today with one of their largest online travel agency customers and they'll further expand in 2019 and onwards as they complete their development, which is being done using the scaled agile framework methodology. And finally, with digital, as I mentioned earlier, their progress this quarter includes the addition of hotel bookings into Trip Assist, which is the white-label mobile app they provide to their travel agency customers. They signed 13 additional current agency clients to this capability in Quarter 3 alone.

    And we've expanded their relationship with easyJet, wherein they design, build, and race their mobile offering, which this quarter included an innovative current interface that allows users of Instagram who relish the glimpse of a destination in a picture to auto-launch the easyJet app to recommend of possible flights to that destination. This is a distinguished illustration of where mobile is heading to and where, again, Travelport is leading. Their mobile apps relish been downloaded nearly 47 million times and counting. everything these achievements are taking Travelport to progressive underlying improvement in their business.

    In booking terms, we've grown at approximately 2 times the rate of the online travel agency market, both this quarter and indeed year to date. And this is despite the fact they carry out not relish air bookings with the largest air booking OTA of them, all in the shape of Expedia in the U.S.A. or to in the course of this year in Europe. It demonstrates that the growth we're getting from faster-growing OTAs across the globe is significant, and over the course of 2019, it should gain further momentum, as a result of their efforts in India, but likewise with online travel agencies across Europe, Latin America, and Asia-Pacific.

    Now it's not everything smooth sailing, of course. As you may relish seen, one of the travel management companies, Carlson Wagonlit, has announced current GDS fields with each of their largest competitors. Travelport has, however, an existing contract with this customer, which runs through the quit of 2020. They carry out anticipate, nonetheless, the tra -- Carlson Wagonlit will progressively traipse a number of their corporate travelers -- corporate customers from us, which will relish a negative impact in Q4 and into 2019.

    But what is gripping is as a result of this procedure change by Carlson Wagonlit, several of the corporations that relish them today had issued requests for proposals from other TMCs, and Travelport is, of course, supporting them. As a counter against this, there are chain of wins and growth that they secured with other major travel management companies and some key regional players. This includes in markets such as Scandinavia and Austria, where hitherto they had diminutive corporate partake at all. Given their enhanced content offerings, their travel manager AI capabilities in partnership with IBM, their mobile apps, and other their diverse travel content, they believe there are net-net incremental conversion opportunities available to Travelport.

    And to give you just a couple of examples in two countries. They signed a multiyear renewal agreement with Encore Travel, which is Canada's largest Canadian-owned and operated TMC and one of the strongest users of their point-of-sale in terms of both car and hotel attachments. Moreover, they signed another long-term deal with Maritime Travel, Canada's largest independent travel agency. And Travelport was selected in both due to their technology and content, again, against significant competitive pressure.

    In the U.K. they signed a multiyear agreement with Amber Road, which is one of the largest corporate travel managers in the market and was formerly known as CTI. Amber Road went live with Travelport last month and is another significant conversion from a competitor GDS. Looking geographically, in Asia, they are growing at 2 times the GDS market rate in air booking terms.

    Part of it is indeed India, but we've likewise shown significant partake gains in Indonesia, Thailand, and Malaysia. We're likewise seeing first-rate gains across several European countries and Latin America, as Bernard will record later. So on that note, let me now hand you over to Bernard for more details on the financials, and I'll return with a summary and their guidance for the full-year 2018.

    Bernard Bot -- Chief fiscal Officer

    Thank you, Gordon. Hello, everyone. Let me traipse as usually through the drivers of their trading performance in the third quarter, before affecting to the analysis of the summarized financials. Starting with slide 7.

    Our travel commerce platform delivered revenue growth of 2% in the third quarter, helped by the continued excellent performance of eNett within Beyond Air. Their revenue overcame a 4-percentage-point impact from the Pacific account loss in 2017, as well as the impact from their termination of a contract with the European OTA in second quarter of this year. The headwinds masked sturdy performances in Asia, Europe, and Latin America, including gains in the global OTA channel. This is despite demand weakness in some key regional markets as they had anticipated.

    Reported segments, which comprise air, hotel, car, and rental bookings were down 4%, including a 4-percentage-point impact from the Pacific account loss. Splitting out their revenue growth by channel starting with air. Air revenue was down 3%, with sturdy growth in revenue from Asia and Latin America, offset by declines in the Pacific and Europe. To harmony of their revenue from higher yielding away bookings was 67%, up 0.5 percentage points.

    Beyond Air revenue was up 14%, driven by eNett revenue growth of 58%. The traffic continues to capitalize from a broadening of its adjustable market due to more travel being booked on a prepaid basis, which plays to eNett sweet spot. In addition to sturdy growth by eNett's global OTA customers and their increasing partake of wallet with them. This performance was against tougher comparables than early in the year, as well as a currency headwind of around 3 percentage points.

    Hotel elbowroom nights were down 4% and car rental days down 2%, against sturdy increases in the prior year. However, their hospitality attachment rate was stable, which is a positive result, given their continued growth with several air-only OTAs. Their Technology Services traffic increased 1% in the quarter, as it lapped the disposal of IGTS in 2017. Looking at the different regions, starting with their international or non-U.S.

    business that makes up three quarters of their platform revenue. International revenue grew by 3% and international segments were down 5% in the quarter, with 7 percentage points of impact from the Pacific account loss. Their sturdy underlying performance reflects Air market partake gains at several major accounts within Asia, Europe, and Latin America, in particular. Taking the regions in turn, Asia-Pacific segments were down 6%, entirely due to the loss of the Pacific account.

    In Asia alone, that is excluding the Pacific, their revenue and segment growth were both 23%, which was nearly twice the market rate of growth. As Gordon mentioned earlier, their traffic in key markets, such as India and Indonesia continues to ramp and indeed in the quarter, they grew their air partake in countries, which collectively picture two-thirds of the Asian GDS market. A progress in Asia is therefore widespread and not centered around one specific country. Europe grew revenue by 9% overall, despite a 7% decline in segments.

    As alluded to earlier, European market decline year over year as a result of the heat wave they experienced in Northern Europe this summer, together with the soccer world cup. On top of this, they were impacted by their conclusion in June this year to terminate the contract of the European OTA. These factors masked what was otherwise a very satisfactory performance in Europe with Air partake gains in several countries, including Sweden, France, Germany, Spain, and the Netherlands. In fact, they maintained their Air partake -- market partake in Europe year over year, if they comprise the terminated European OTA customer.

    In the Middle East and Africa, despite a flat market, their revenue grew 2%, with sturdy contribution from their Beyond Air activities in the region. Finally, in Latin America and Canada, they grew both their revenue in segments by 2%, expanding their Air partake yet again in nearly every major economy in Latin America. affecting to the U.S., revenue declined by 1% from a 4% decline of reported segments. This includes some of the final rolloff of the Orbitz traffic in the U.S., which since being acquired by Expedia in 2015 has migrated off their platform.

    Despite their current win rate in U.S. picking up, particularly, in the corporate space, were negatively impacted in U.S. by customer footprint, which is less weighted to the relatively faster growing online channel. Turning to slide 8, where they have, again, laid out the main drivers of the year-over-year movement of net revenue minus commissions.

    As a reminder commissions in this analysis includes the amortization impairment of customer loyalty payment both of which are removed from adjusted EBITDA. The bridge starts from Q3 2017. They relish shown a $30 million impact of the Pacific agency loss, and a $3 million impairment of a customer loyalty payment relating to U.K. travel agency who had its license to issue airline tickets suspended in the quarter.

    Although they relish picked up some of the lost traffic from this competitor -- agencies that they likewise served, the upfront payment to this agency is no longer deemed as receivable. Excluding these two factors, their net revenue less commission grew by a diminutive over 2% in the quarter in line with their top-line growth. As you can behold from the bridge, they saw first-rate contribution from their payments traffic and was likewise pleased that their core distribution traffic generated positive pricing year over year, which exceeded the impact of the decline in segment volume. Moreover, their commission rates in the distribution traffic were flat.

    Moving to the next bar, the net foreign exchange impact shape the retranslation of revenue commissions was a tiny capitalize year over year. stand in sarcasm that the results from their realized FX hedging contracts, which were a slight negative in the quarter, are recorded in SG&A. Finally, the bar marked as other includes variable -- various nontransactional elements of their business, which were down year over year, largely due to lower digital revenue. Turning to slide 9 and the top half of their summarized income statement.

    I've already described the underlying movement from net revenue and commissions. To summarize the 7% commission growth, eNett sturdy performance was a principal driver of the enlarge in the quarter, offset by a decline in GDS commissions. Technology costs were down 10%, with the positive impact from their ongoing focus on the efficiency of their expenditure. In addition, they benefited from a higher capitalization rate, leading to a net reduction in the amount of progress disburse recognized in opex.

    This lower opex amount is mirrored by a higher amount of capital investment within PP&E. SG&A costs were stable year over year, with first-rate labor cost control, offset by a modest headwind from foreign exchange, due to realized losses on hedges. Taken together, SG&A and technology costs were down 4% in the quarter. Adjusted EBITDA increased 2% to $139 million, this was inclusive of the 9 percentage points, or $13 million, negative impact from the Pacific agency loss.

    The adjusted EBITDA margin percentage was 22.4%, was stable year over year in line with their expectation. In fact, their margin enlarge without eNett, which is as they previously explained an intrinsically lower-margin traffic than their core distribution activities, but likewise being a much higher growth business. affecting further down the income statement, the depreciation imbue and the amortization of customer loyalty payments were stable year over year, import that adjusted operating income came in 4% higher at $79 million for the quarter, with an operating margin of 12.7%, up 20 basis points. U.S.

    GAAP operating income was down 28% to $44 million. Adjustment to GAAP operating income, therefore, totaled $35 million. These adjustments were higher than the prior year mainly due to higher corporate and restructuring cost of $15 million and a $10 million unfavorable undulate in the stamp to market of unrealized FX hedging contracts. Continuing onto slide 10, you will behold the second half of their summarized income statement.

    In the quarter, their interest expense decreased by $4 million, or 12%. Higher LIBOR rates applied to the term loan and a higher rate on the bond were more than offset by the capitalize of their interest rates swaps, the lower debt balance, lower term loan margin and lower nonrecurring fees related to their repricing in August 2017. everything in all, they anticipate their full-year 2018 interest expense to exist around $110 million, which reflects the substantial improvements that they relish made, as they relish refinanced and restructured their debt. affecting now to tax.

    Provision for income tax decreased from $23 million to $12 million in the quarter, this was as expected given that among other factors, last year's numbers were impacted by adverse changes in their geographical profit mix, owing to higher international profits. Their effective tax rate was 24% for the quarter. Year to date, their total provision for income taxes is $2 million higher year over year at $43 million, with an effective tax rate of 22%, which is similar to the prior year. And they continue to expect their full-year taxes to exist approximately $55 million, with an effective tax rate in the low to mid-20s.

    Overall, adjusted net income was up 77% to $40 million. Adjustment to U.S. GAAP, net income totaled $34 million, higher than the prior year by $16 million, this was largely due to the identical factors affecting GAAP operating income. affecting on to slide 11, and you'll find the summary of their cash current for the third quarter, along with their net debt position.

    Looking at the constituents partake of free cash flow. Net cash from operations decreased by $13 million to $83 million, largely due to higher interest and tax payments in the quarter and less benign movement in working capital balances. Cash interest was up due to the timing of interest payments on the bond, which they issued earlier this year, which carry semiannual payments in March and September. Cash taxes were up $2 million, largely due to the phasing of payments year over year.

    Capital expenditure in property and outfit was up $3 million. As I touched on in slide 9, and indeed in previous earnings call, their capital investments related progress work in key areas of their traffic that are driving their win rate, including areas such as nontraditional air content, enhance search and shopping and next generation APIs. Given their better efficiency in product design and development, we're realizing relatively higher capitalization rates and this is resulting in slightly higher capex this year. However, the converse benefits the technology opex line, as mentioned earlier.

    In line with their guidance, they anticipate capital expenditure in 2018 to total approximately $140 million. Their overall multiyear investment program remains unchanged. In summary, free cash current decreased by $15 million to $48 million. Finally, their net debt reduced by $28 million since the prior quarter-end, representing net leverage of 3.5 times last 12 months adjusted EBITDA.

    Overall, expect their net leverage ratio to remain at this plane by the quit of 2018. Let me now hand back to Gordon for some concluding remarks.

    Gordon Wilson -- President and Chief Executive Officer

    Thank you, Bernard. And I'm on slide 13. So to summarize, we've had a equable third quarter achieving net revenue adjusted EBITDA growth of 2%, and adjusted net income growth of 77%. Looking at the year to date, they are delivering against their strategic objectives and achieving commercial wins according to their plans.

    In revenue terms, they overcame the loss of the large Pacific account in 2017. Indeed, excluding the impact of this one customer, their underlying net revenue and adjusted EBITDA growth were each 9% in the nine months September 30. Over the last quarter, Travelport's sturdy traffic momentum has been tempered Somewhat by some specific customer headwinds explained today. And likewise because of their relative exposure to certain markets where travel demand has softened in recent months, certainly compared to United States.

    Our underlying volume growth in Q3 has nonetheless remained robust, it's obviously slower than it was in Q2 and Q1 for these reasons. In terms of what this means for their full-year results, their year-to-date performance means that they currently remain on track to topple within the full-year fiscal guidance ranges they gave you at the start of this year. As I previously stated, at this juncture, they carry out anticipate revenue adjusted EBITDA and free cash current to arrive at the low quit of these ranges, while adjusted net income and adjusted income per partake should deliver more toward the middle of their respective ranges. Now naturally as a well-managed traffic and recognizing that the headwind that I discussed above will roll into the number next year, I'm giving some of the changes to where their traffic is coming from now and into the next couple of years.

    We are in the process of redesigning their enterprise operating model, seeking to rationalize and streamline the handoffs between departments, more fully implement scaled agile as their primary product and progress methodology, and address the spans and layers in their business so they remain customer-responsive. The Travelport traffic is continuing to grow in Asia and Latin America, and it's holding its own while growing revenue in Europe. eNett remains a significant growth contributor. Their traffic net of their customer footprint in the United States has stabilized and has some gripping opportunities ahead.

    We are laying foundations for some further growth opportunities to exist realized over the next few years, with Asia again a particular focus and source of strength. They continue to invest in and build both current products to enhance their proposition to maintain customer groups, such as corporate travel and online travel agencies, and to filch complete odds of the newer technology now available across cloud, simulated intelligence, machine learning, mobile, and next-generation conveyance of their content. They believe that taken together, these initiatives over the medium term will enable us to mitigate the impact of both some demand softness in certain travel regions and the specific customer items I called out in my remarks this morning. So thank you for your attention, that concludes their prepared remarks, and I'll now relish to open up the summon to mp;A.

    Questions and Answers:

    Operator

    [Operator instructions] The first question is from John King with Bank of America. gratify traipse ahead.

    John King -- Bank of America Merrill Lynch -- Analyst

    Yeah. first-rate morning. first-rate afternoon. Thanks for taking the questions.

    I've got two, please. Firstly on eNett. Obviously another first-rate growth quarter. I deem the growth was [Inaudible] in dollars year on year.

    But If I glimpse at slide 8, it seems to imply I guess the net revenue less commission enlarge of, I don't know, somewhere in the benign of 5% to 10% range. So can you remark on what benign of incremental outrageous margin you're seeing on that growth at the moment? And how you expect that to trend going forward? And the second thing, was just the clarification probably for Bernard on the restructuring, it obviously looks to exist almost $20 million of restructuring this year. Can you give us some insights as to what that relates to? Thank you.

    Bernard Bot -- Chief fiscal Officer

    Sure. Hi, John. To start with eNett. I think, as you rightly [Inaudible], the increase in commissions in the quarter is maybe everything due to eNett.

    Actually the enlarge in agency incentives was slightly down and, obviously, that's off a very strong, again, eNett growth. I would say, if you glimpse at what eNett is contributing to the bottom line, we've always said, it's around double-digit and if I glimpse at its performance quarter over quarter in terms of the EBITDA margin it's delivering, it's improving, it's --has an upward trajectory. So I think, they can exist very pleased with, one, continued very sturdy growth, and second, continued first-rate margin and actually some improving margin on that partake of the business. if I then traipse to the other point in terms of the restructuring.

    As Gordon alluded to, we're looking at several initiatives in the traffic to gain sure that they -- what they deliver and how they deliver it to customers has improved. Introducing frameworks such as Scaled Agile, but likewise looking at some of their spans and layers. Now that has two benefits, one is that we're being much more effective in what they do, but there's' likewise a productivity and efficiency saving from that and will exist -- what we've taken this quarter as a restructuring imbue of around $15 million, that is partake of that initiative with related efficiency savings to arrive in next year from customer initiatives.

    John King -- Bank of America Merrill Lynch -- Analyst

    OK. And so what benign of layers of the organization? Is that sales? Is that services? Maybe, I'm just wondering benign of which region are you making changes in?

    Gordon Wilson -- President and Chief Executive Officer

    It's not -- John, it's Gordon here, it's not restricted to any one region, it's not restricted to the commercial office either. We're taking a long hard glimpse at their traffic across the board, and making sure we've got the birthright benign of spans of control. They don't relish too many layers of management that we're looking to their go-to-market strategy in terms of where they are hubbed around the world in terms of where their traffic is coming from. When they relish growth opportunities as they behold them in Asia and elsewhere, they relish to gain sure we've got the birthright people in the birthright space to sort of deliver on those.

    But it goes across the board, we're putting in things relish robotics into their finance organization to sort of streamline some their process in operations there, the SAFe Agile Framework, which is the investment, should actually result in better current through of their progress work, you can carry out more faster, actually you should exist able to carry out it lower cost. That'll assuage us likewise employ some better -- better employ their outsourced providers in a scaled agile framework when we've got peaks of activity going on to derive particular products out. So it's across the board and if it's an enterprise operating model review that we've been engaged in now for some months and we're making provisions for changes that emerge as a result of that.

    John King -- Bank of America Merrill Lynch -- Analyst

    Understood. Thank you.

    You're welcome.

    Operator

    The next question is from the line of Adam Hackel with Imperial. gratify traipse ahead.

    Adam Hackel -- Imperial Capital -- Analyst

    Hi, guys. Thanks for taking the time this morning/afternoon. Just a couple of quick ones from me. I was nosy on the Southwest renewal.

    Can you just remind us what the extent of that partnership is? And the extent you derive access to their content for your channel and sort of where that maybe could lead longer term with those guys?

    Gordon Wilson -- President and Chief Executive Officer

    Yes, it'll exist a pleasure. The deal they relish with Southwest, the change -- expansive change has happened, it's now available in their -- or it's going to exist available fully in their Worldspan -- to their Worldspan users as well as their Apollo users in United States. We've got everything of their corporate negotiated rates and government rates in there. Southwest carry out not allow distribution to online travel agencies.

    So it's really benign of a office of growing in the corporate market and government market, first and foremost, which is an exciting area for us. As I mentioned in their call, we're growing quite nicely in the corporate space and having this content in their system likewise means they can pack it up into corporate booking tools, which they obviously confederate with around the world, but particularly in the United States in this particularly -- in this particular instance. And so it's -- we've always had that content, they now expanded it into their full-user base in the United States, and they can pipe it up into the corporate booking tools you work with. And as you may relish heard from Southwest own earnings, corporate travel and corporate growth for them is a key office of what they're doing, so that fits quite nicely.

    Adam Hackel -- Imperial Capital -- Analyst

    That's great, I appreciate that color. And I guess, just nosy just more on the higher level, you guys talked about data analytics and everything that. I mean, just curious, where you guys deem sort of the travel industry is in terms of embracing digital transformation? And I guess, I'm thinking maybe more on the customer side and the agency side, but certainly both side. Just curious, how sort of NDC can play into that certainly with the airlines here.

    Gordon Wilson -- President and Chief Executive Officer

    Yeah, I mean, well, there's a couple of questions in that. First of all, I deem it's a laughable thing when people talk about digitalization because we've been in digitalization and travel since they were incepted, artery back in the day. And I deem what we're obviously seeing, is a huge shift to mobile, which is why we're quite pleased with them, with the access that we've got and how we're using those access to build out more benign of capabilities, because users want to exist self-enabled 24/7 and in the devices that they carry around with them. So that's a expansive change.

    We're seeing a progressive traipse from browser and into mobile capabilities. And so putting in things relish being able to add your hotel booking into your itinerary on Trip Assist on the mobile application is, I think, going to exist a source of growth for us going forward. The other thing putting into mobile, the aptitude to gain a change of a booking yourself. Because at the quit of the day, if you want to change your reservation, there are three questions you're asked.

    Can I? Yes or no, depending on the ticket I've bought. How much would it cost? And you needed that to exist complete -- if it's too expensive or you don't. And then is there a seat on the flight that I want to traipse on, everything of that lends itself very well to that mobile engagement. In AI, in data, more generally, I deem that's an area where historically the travel industry it sits on massive pools of data, really haven't exploited that data as much as they could or should do.

    Hence, what we're doing with IBM in the travel management space, providing them the aptitude through everything the data that they relish to sort of carry out what if benign of analysis. So the specimen I was giving, if a corporate travel manager could derive his or her internal travelers to bespeak two more days in promote than they normally do, how much money would that save, because the artery the airline prices are changed. What they can now carry out everything about. How can they gain sure we've got data so you can avoid peak times.

    You don't traipse to Singapore, for example, when the imposing Prix is on, because hotel prices are 3x the simple cost and flights are expensive. everything of that as well as managing disruptions to travel, AI and expansive data is enabling. And I deem in that area the travel Industry has been a bit slow, frankly, to sort of really harness what's out there, but we're nascence to change that, and that's everything pretty exciting for us.

    Adam Hackel -- Imperial Capital -- Analyst

    Great. I really appreciate that color. Thanks a lot, guys.

    Gordon Wilson -- President and Chief Executive Officer

    You're very welcome.

    Operator

    The next question is from the line of Brian Essex with Morgan Stanley. gratify traipse ahead.

    Brian Essex -- Morgan Stanley -- Analyst

    Hi, first-rate morning, and thank you for taking the question. I guess, Bernard, I was wondering if you could talk about capital allocation priorities, if that's changed both on, I guess, debt repayment as well as partake repurchases particularly with benign of the pullback in the shares. I deem previously you've stated that you relish a focus on debt repayment, but it seems relatively flat. Just wondering, if your view has changed there.

    Bernard Bot -- Chief fiscal Officer

    Hi, Brian, to some extent, it hasn't. I mean, the -- we've previously laid out that the board will glimpse again at their capital allocation policy at the quit of the year. Obviously, you're going to glimpse at what does the future cash current glimpse like, what are the risks in the business, what are the opportunities. I deem the longer-term target in terms of that event noiseless remains 2 1/2 to 3 times, but obviously, we'll review the trajectory to that.

    And then once they relish everything the component pieces including the opportunities in the business, because I deem the first priority is to invest in the traffic as we've been doing in this year. We'll then behold a diminutive bit what the capacity is then to change the capital allocation to glimpse at a different allocation to debt or shareholder returns. But I deem you -- as they said at the nascence of the year, that's an exercise we're working through and give us a diminutive bit of time until the current year and the review that we're doing with the board.

    Brian Essex -- Morgan Stanley -- Analyst

    OK. And maybe a follow-up just on eNett, what that pipeline looks like? Had a bit of a sequential bump, but I know that traffic can exist relatively volatile. Where carry out you -- is your view benign of changed at all, given the past three quarters of performance in terms of where you anticipate to tremble out for the year?

    Gordon Wilson -- President and Chief Executive Officer

    Go ahead.

    Bernard Bot -- Chief fiscal Officer

    Yes, I mean, I deem the -- they stated more than 50%, which is up from the more than 30% at the nascence of the year. You're birthright to note that. The Q3 was a diminutive bit softer, but you got to traipse back at what happened in 2017. While, for example, Q1 and Q2, were in the 15% to 20% sweep growth.

    At Q3, they carry out 30% and in Q4, 46%. So you're a diminutive bit challenged in the compares and I deem that -- the overall result is excellent. So I'm -- as Gordon said, we're going to exist above the $300 million. But again, the longer-term rates that we've always been looking at is more around the 25%.

    And I would say, we're very confident about that.

    Gordon Wilson -- President and Chief Executive Officer

    And I'd likewise say, Brian, this is Gordon here. There's noiseless a massive ramp for eNett ahead of it. We're working with eight of the 10 top OTAs at the moment. But the partake of wallet break available with them is noiseless absolutely enormous.

    And if you deem about some of the dynamics that are going on, this progressive traipse to sort of prepaid and postpaid options that you behold for hotels, for example, well, the prepaid that everything fits the sweet spot of eNett exceptionally well. And we're even now working with some airlines enable them to employ eNett to some of the payments that they make. And so there is no benign of confine to the growth of this business, but obviously, it's getting bigger, and therefore, year over year, growing at 50% every year is quite hard, but they are pretty cozy we'll maintain a 25% growth rate for this service traffic for the foreseeable future.

    Brian Essex -- Morgan Stanley -- Analyst

    Well, if you deem if you just maintain it flat sequentially in 4Q you'd exist benign of in a relish 69% growth, is there anything about that traffic that would gain it tip down? I mean, it seems to operate at Somewhat of a consistent race rate once it steps up.

    Gordon Wilson -- President and Chief Executive Officer

    No, that it's caused it to tip down unless there's a particular customer for some reasons resolve that they -- they're able to employ eNett for some purpose. When we've had lumpiness in the past, they had, as an example, a expansive OTA turns us on -- thought there was an issue in their conversion rate as result of it, which was based on fallacious positive, which they spent a lot of time proving to them it was not the result of using eNett and then they circle this back on again. So we've had some lumpiness when that happened, but that's just simple benign of course of business.

    Bernard Bot -- Chief fiscal Officer

    Let's say, Brian, we're very confident -- very confident in the more than 50%.

    Brian Essex -- Morgan Stanley -- Analyst

    Got it. Helpful. Thank you.

    Gordon Wilson -- President and Chief Executive Officer

    You're welcome.

    Operator

    Your next question is from the line of Neil Steer, with Redburn Partners LLP. gratify traipse ahead.

    Neil Steer -- Redburn Partners -- Analyst

    Hi, thanks for taking the questions. I've got a couple, if I may. Firstly, given everything of the improvements you're making to the front-end functionality, accelerate of response, and so forth, and obviously, with the content, what was behind Carlson Wagonlit's conclusion to traipse away from you to your two peers?

    Gordon Wilson -- President and Chief Executive Officer

    Well, I mean, again, as I've said in my comments, they carry out relish a contract with them which goes to the quit of 2020. And I don't know when their contracts with them Amadeus and Sabre came up, maybe they came up before ours did. That said, I deem some of what's happening at Carlson Wagonlit is that they relish a very challenging internal IT environment with multiple different forms of desktop [Inaudible] which they've built themselves or added to themselves, etc., which makes their cost to serve quite tall relative to other TMCs. They relish a huge bespeak of traffic with them, government travel in the United States, which is principally everything processed for them on Sabre and is everything tied in to a particular voucher system that the government use, which means it's a very entrenched position with Sabre there.

    And I deem most recently, they made some decisions to near -- as they restructure their traffic to near one particular summon center, which happened to exist on Travelport and they've moved that traffic into other summon centers which aren't on Travelport. So I deem that's some of what's going on there. I'm pretty confident that their conclusion to carry out everything that had nothing to carry out with Travelport's product content or service.

    Neil Steer -- Redburn Partners -- Analyst

    OK. And just following on from that, the capital market event, so you obviously expressed an interest to regain or win market share, booking market partake out to 2020 or 2021. Given the artery the market evolved over the last couple of quarters, are you noiseless on track to carry out that with that sort of ambition?

    Gordon Wilson -- President and Chief Executive Officer

    Yeah, I deem -- so I mean, obviously, they had the European OTA, which is not something they forecast, to exist quite honest with you, but they've managed to race up debts of $66 million or something with IATA, which made things a bit of a challenge. If you glimpse at what we're doing in India alone as a market. They -- which is growing relish billy o. Their position in India in the next year few years is pretty unique, in fact, in terms of what we've got, in terms of the content of IndiGo, Air India and indeed Jet Airways, which are the three biggest airlines accounting for 70% of the domestic traffic in India for sure, let alone than the international airlines that waft in and out of India.

    And then you glimpse at markets relish Indonesia, which is growing, perhaps Thailand, etc., as well as opportunities further in Europe net of the opportunities they relish with the European OTA. And I deem they can behold a path to growing their share, which has always been their air share, which has always been their objective, but not any guide. We're likewise about making profit for their owners and increasingly, making sure we're attaching things relish hotels and cars and mobile apps, etc., to their proposition as well as payment.

    Bernard Bot -- Chief fiscal Officer

    Yes, just to add another point, Neil, is the geographic dimension, I deem there is likewise a channel dimension. If you glimpse at the OTA channel and if they glimpse at the top 200 OTAs, we're growing at double the rate that the market is growing. The market is growing at around 4.5%, 5% and we're in the 9% sweep of growth. But I deem that the geographic process is likewise a first-rate channel, greater penetration that we're realizing.

    Neil Steer -- Redburn Partners -- Analyst

    OK. And so just one final clarification. The streamlining and the disburse of money this year. Can you quantify what is the cost saving that will allow you to achieve annualized, as you traipse into 2019? And likewise related to that, is the spends this year the final tranche, or will there exist further spending as you traipse into 2019?

    Gordon Wilson -- President and Chief Executive Officer

    Well, the confess to that is there may exist more in 2019, we're noiseless working through that. The first question, Neil, is really trying to glimpse to guidance for 2019. As you know, their ordinary course of traffic as they give their guidance in February, I'm not being awkward, but they are noiseless working through a number of the puts and takes in their traffic for getting their budget in 2019 finalized and to filch to their board. And so we're not really giving guidance outside the simple course, which they said they will.

    Neil Steer -- Redburn Partners -- Analyst

    OK. Thank you.

    Gordon Wilson -- President and Chief Executive Officer

    You're welcome.

    Operator

    The next question is from the line of David Togut with Evercore ISI. gratify traipse ahead.

    David Togut -- Evercore ISI -- Analyst

    Thank you. first-rate afternoon. Two questions, please. First, could you quantify the annual revenue and earnings impact of the transition of Carlson Wagonlit over the next couple of years?

    Gordon Wilson -- President and Chief Executive Officer

    No, David, I can't, because I don't know exactly what that's going to be, first of all. Because we've got a number of the corporate accounts issues with Carlson Wagonlit today who are going to exist affecting to other TMC, technically I don't actually know definitively what Carlson is going to traipse up and when. Again, they relish a contract with them and likewise I'm not giving guidance for 2019 at this point in time.

    David Togut -- Evercore ISI -- Analyst

    Got it. And then there was a 17% enlarge in European RevPas year over year in Q3, can you remark on the drivers behind that and to what extent is that growth in RevPas sustainable over the next year or so?

    Bernard Bot -- Chief fiscal Officer

    Yes. Hi, David. The growth in RevPas has a number of components, the principal one in Europe is eNett, but if I glimpse at the overall RevPas, we're likewise seeing first-rate air pricing, but that's a smaller partake of the rev macro, so the biggest impact is the growth of their payments business. And yes, depending on what the eNett traffic grows relish that's going to exist a contributor to the growth of RevPas in Europe likewise going forward.

    David Togut -- Evercore ISI -- Analyst

    So there wasn't a expansive driver from so-called private channel agreement with IAG, Lufthansa and so on?

    Bernard Bot -- Chief fiscal Officer

    There was a -- I mean, it's -- the overall impact of their customary negotiation on annual increases, basically that's the main partake of that enlarge as it relates to air and the RevPas.

    David Togut -- Evercore ISI -- Analyst

    Understood. Final question, yes sorry. Sorry

    Gordon Wilson -- President and Chief Executive Officer

    David, just a clarity for everybody. They relish an agreement with Transkela and one of their competitors traffic so they're getting the capitalize of rack rate pricing with them, that's not in their numbers. We've got the deal with them with that airline, as indeed they relish with them, IAG and the Lufthansa as well. And to confess your questions in RevPas.

    Overall the 7% growth in RevPas, about one point of that is due to Air, the rest is due to Beyond Air and within Beyond Air it's largely eNett.

    David Togut -- Evercore ISI -- Analyst

    Thank you. I appreciate the clarification. If I could weave in one final question. The 24% decline in free cash current year over year in the quarter, Bernard, any callouts in that that might exist one-time in nature? In other words, is that more of an unusual free cash current quarter that they just saw? Or were there some items in there that might exist ongoing?

    Bernard Bot -- Chief fiscal Officer

    Yes, I think, there were indeed some number of unusual, one which I likewise called out in the prepared remarks. They had higher interest payments, about $10 million, and that's really related to the bond, which has a semiannual instead of a quarterly installment. And then you derive movements in working capital, which can exist either plus or negative in any quarter. So that was another $13 million, so that was unusual, I would say.

    If you glimpse at year to date, we're about 10% down on free cash current and then -- if I then glimpse forward for the complete year as we've guided, they expect free cash current to exist at the lower quit of the $210 million to $230 million range, which noiseless exist up about 5% on prior year. So it's really a diminutive bit of a timing blip in this specific quarter.

    David Togut -- Evercore ISI -- Analyst

    Understood. Thank you very much.

    Bernard Bot -- Chief fiscal Officer

    You're welcome.

    Operator

    The next question is from the line of Ashish Sabadra with Deutsche Bank. gratify traipse ahead.

    Ashish Sabadra -- Deutsche Bank -- Analyst

    Thanks for taking my question. Maybe one basic question around Beyond Air if I exclude eNett, the growth there was pretty declined, and I deem you called out lower digital revenues, when carry out they behold those headwinds moderating? And then can that traffic start to circle around?

    Gordon Wilson -- President and Chief Executive Officer

    Well, I deem Ashish in terms of that traffic growing a bit better. Similar things I mentioned in terms of the current hotel booking product they do out there, the hotel retail app within Smartpoint, which gives in one space analytics capability of everything the rate types that hotels have, negotiated, loyalty members rates, prepaid rates, etc. Their anticipation is that will assuage us to drive further hotel bookings. And I deem the other thing is what we're doing in digital, which is pivoting much more to more white label products for their travel agency customers and to a degree airlines, which are more transaction-based revenues and sort of how you drive bookings as opposed to being paid through the mobile app itself, per se.

    And again, I deem what we've done in Trip Assist, which is their white label mobile app for agencies putting in hotel booking capabilities should likewise assuage us to attach more hotels. And for the first time, we'll actually behold what consumers are doing as opposed to being one step removed, which is where we've always traditionally been. So I deem those are the benign of things that will benign of assuage drive that traffic going forward. And they -- as Bernard said in his remarks, we're quite pleased their attachment rates are 48/100 airline tickets, especially, given the fact that we've proportionally do on more air-only OTAs into their business.

    So it's not where they want it to exist at this point in time, to exist fair. But they are -- with the current product investments that we've do in they deem that will assuage us to gain traction in this space, and we're coming from a tall base. They deem their attachments rates are the highest in the industry already.

    Ashish Sabadra -- Deutsche Bank -- Analyst

    OK, now that's helpful. And maybe a tough question, but just at a very tall level, right. Look, there are some challenges in the business, decisions by some of your clients to traipse away or some of your geographic footprint, but the performance has been challenging, and the stock performance, obviously, has been challenging. The stock has noiseless under the IPO cost back in 2014 and it hasn't really recovered.

    Given everything of this background, would the board account any benign of strategic alternatives? Or anything to assuage unlock shareholder value?

    Gordon Wilson -- President and Chief Executive Officer

    Such a fishing question, if ever there was one, Ashish. And, of course, I'm not going to confess that.

    Ashish Sabadra -- Deutsche Bank -- Analyst

    OK.

    Operator

    [Operator instructions] The next question is from the line of Dan Wasiolek with Morningstar. gratify traipse ahead.

    Dan Wasiolek -- Morningstar -- Analyst

    Hey, first-rate morning, guys. Thanks for taking the question. Just wondering, looking at the segment internationally in the U.S. Could you maybe give some color on the timing of when you lapped the Flight Centre winter migration? And likewise Orbitz, you said that's fully rolled off, what was the headwind to that for U.S.

    segment this past quarter? Thank you.

    Gordon Wilson -- President and Chief Executive Officer

    Yes, it's a impartial question. Let's just give you some context and the international segments to the market as a entire and grew 1.1% in GDS terms in the last quarter, whereas United States grew 6.7%. And so quite unusual sturdy -- unusually sturdy U.S. growth.

    The overall GDS market grew by 3.7%. So in the U.S., they don't relish a huge footprint in the U.S., they don't relish any footprint in U.S. for air really now with Expedia and Expedia is a large component of the U.S. marketplace.

    And generally speaking, Expedia and a couple of other expansive OTAs are growing faster than the rest of the marketplace. So that means that their partake moves when they haven't won or lost anything, but we've benign of some customers are good, some agencies in the market are growing faster than others. So they didn't derive the complete capitalize of the U.S. growth rate in everything honesty, and likewise they are not the biggest player in United States.

    We're neck and neck in the No. 2 position. So one of their competitors disproportionate gains and gained partake because they're expansive in a market, which grew at 6.7% during that term of time. And the Expedia/Orbitz traffic has now virtually everything rolled off and there's a dribble left, I think, but it's not very much.

    Although I would stress they did carry out car and hotel bookings in America and elsewhere with Expedia that carry out air. And then internationally, to complete the picture, the European GDS market contracted by 4% year over year, and some markets relish Germany were down 5%, Holland was down 3%, U.K. was down 2%, Russia was down 9%. In fact, the only major market in Europe that's up was Spain and that was up 1%.

    Now some of that, I think, was the heat wave that we've called out in Northern Europe and in likewise to a degree the world cup football, because you can quite clearly behold that when the football was on, bookings declined quite sharply, because people stayed at home fairly enough but then that was compounded with the heat wave. So that may arrive back a bit, but it was a benign of an unforeseen drop in the European marketplace. The Asian marketplace was growing and very nicely. The market in Asia grew 13%.

    We, Travelport, grew by 24%. And when I exclaim Asia, I'm not including Australasia, where obviously they contracted the regions, so everybody knows. So you're in a world whereby the Asian market was $44 million bookings -- air bookings in Quarter 3 growing at 13%. The U.S.

    market is $98 million air bookings at the moment, growing at 6.7%. So U.S. markets is twice as big. So if you're bigger in the U.S.

    your partake will grow. If you're bigger in Asia, even though you're growing even past the market base, your partake doesn't grow on an overall basis. But that's going to change, as Asia continues to grow that benign of rate going forward. I hope that was helpful.

    Dan Wasiolek -- Morningstar -- Analyst

    Yes, that was helpful. I weigh in in regards to Flight Centre, just as a reminder, when does that fully lap for you guys, that headwind?

    Bernard Bot -- Chief fiscal Officer

    In 2019, so we'll noiseless behold a bit of a dribble in the last quarter, but we've had the biggest partake of it. And then in '19, it will exist entirely done.

    Dan Wasiolek -- Morningstar -- Analyst

    OK. Great. Thank you so much.

    Bernard Bot -- Chief fiscal Officer

    You're very welcome.

    Operator

    This concludes their question-and-answer session. I would relish to circle the conference back over to Mr. Wilson for any closing remarks.

    Gordon Wilson -- President and Chief Executive Officer

    And everything I'd relish to exclaim is, just pay tribute to everything the Travelport people, who are working so hard around the world to deliver these benign of results and the forward momentum in their business. Going forward particularly through 2020, which is really what we're aiming at and we'll glimpse forward to coming back in February to declare you how they did for the complete year and most important, to give you guidance for 2019. So thank you very much for your time and attention today.

    Operator

    [Operator signoff]

    Duration: 64 minutes

    Call Participants:

    Majid Nazir -- Head of Investor Relations

    Gordon Wilson -- President and Chief Executive Officer

    Bernard Bot -- Chief fiscal Officer

    John King -- Bank of America Merrill Lynch -- Analyst

    Adam Hackel -- Imperial Capital -- Analyst

    Brian Essex -- Morgan Stanley -- Analyst

    Neil Steer -- Redburn Partners -- Analyst

    David Togut -- Evercore ISI -- Analyst

    Ashish Sabadra -- Deutsche Bank -- Analyst

    Dan Wasiolek -- Morningstar -- Analyst

    More TVPT analysis

    This article is a transcript of this conference summon produced for The Motley Fool. While they strive for their preposterous Best, there may exist errors, omissions, or inaccuracies in this transcript. As with everything their articles, The Motley Fool does not assume any responsibility for your employ of this content, and they strongly animate you to carry out your own research, including listening to the summon yourself and reading the company's SEC filings. gratify behold their Terms and Conditions for additional details, including their Obligatory Capitalized Disclaimers of Liability.

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    Kratos Receives contract Award to Build Multi-Site Ka-band Gateways for SKY flawless JSAT’s current tall Throughput Satellite (HTS) Network | killexams.com real questions and Pass4sure dumps

    SAN DIEGO, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has been awarded a contract by SKY flawless JSAT Corporation (SJC), to design and build gateways for SJC’s current tall Throughput Satellite (HTS) network. The JCSAT–18 HTS satellite, launching in 2019, will deliver broadband and mobile communication services to Asia Pacific and Eastern Russia.

    Kratos will design and build a state-of-art Ka-band multi-site gateway solution for SJC’s current JCSAT-18 satellite.  Kratos’ breadth of gateway solutions are assembled and tested in Kratos’ integration facility to enable rapid on-site assembly and commissioning. This results in both higher character and faster time-to-market than traditional piecemeal ground station deployments and protects SJC’s investment by reducing complexity and risk.

    “In their efforts to deliver HTS services across the Pacific and Eastern Russia, SJC sought a long-term confederate with a comprehensive portfolio of ground service products and a track-record of edifice high-performance gateway,” said Koki Koyama, SJC’s Senior Managing Executive Officer and President of Space Business. “The Kratos team was extremely responsive to their design needs and their partnership marks another major milestone towards their launch of the JCSAT-18 satellite.”

    HTS next generation satellites leverage spot beam waveforms to achieve approximately 20 times the throughput of previous generation satellites. Successful delivery of these types of high-bandwidth services requires principal changes to the current ground infrastructure which is designed and optimized for traditional satellite operations. Kratos is leading this industry evolution by offering a broad portfolio of integrated Kratos products that provide satellite operators the most comprehensive and seamless gateway solution in the industry. Kratos’ gateway solution includes a broad array of ground station services from monitoring and control and network management products through high-performance antennas.  This enables satellite operators to maximize their HTS traffic model investment by reducing risks and costs while improving time-to-market.

    The SJC contract award is for a multi-site gateway solution that will comprise Kratos’ high-performance 13 meter Ka-band Turning Head Antennas and Compass® monitoring and control system. The pre-integrated solution will exist installed at various SJC locations with control outfit centralized in the company’s Network Operations Centre.

    “Satellite operators deploying HTS networks requisite to build current Ka-band ground infrastructure suitable for initial operations, but likewise designed for growth as traffic requirements evolve,” said James Kramer, Kratos Senior Vice President. “We appreciate the continued self-confidence that SJC has shown in Kratos to assuage maximize their investment with a tall performance, multi-site gateway solution – one that supports their traffic model both now and in the future.”

    About Kratos Defense & Security SolutionsKratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises.  Kratos is changing the artery breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined progress processes. Kratos specializes in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training and combat systems. For more information traipse to www.KratosDefense.com.

    About SKY flawless JSATSKY flawless JSAT Corporation is a leader in the converging fields of broadcasting and communications. It is Asia’s largest satellite operator with a fleet of 18 satellites, and Japan’s only provider of both multi-channel pay TV broadcasting and satellite communications services. SKY flawless JSAT delivers a broad sweep of entertainment through the SKY PerfecTV!platform, the most extensive in Japan with a total of 3 million subscribers. In addition, SKY flawless JSAT’s satellite communications services, which cover Japan and the rest of Asia, as well as Oceania, Russia, Middle East, Hawaii and North America, play a vital role in supporting safety, security and convenience for society as a whole. For more information, gratify visit www.sptvjsat.com and www.jsat.net.

    Notice Regarding Forward-Looking StatementsCertain statements in this press release may constitute "forward-looking statements" within the import of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are matter to significant risks and uncertainty. Investors are cautioned not to space undue reliance on any such forward-looking statements. everything such forward-looking statements speak only as of the date they are made, and Kratos undertakes no duty to update or revise these statements, whether as a result of current information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may antecedent actual results to differ materially from what may exist expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could antecedent actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the traffic of Kratos in general, behold the risk disclosures in the Annual Report on shape 10-K of Kratos for the year ended December 31, 2017, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

    Press Contact:Yolanda White858-812-7302 Direct

    Investor Information:877-934-4687investor@kratosdefense.com


    Creating an Article List With IBM WCM 8.0 (Part 2) | killexams.com real questions and Pass4sure dumps

    In partake 1, they discussed the requirements for following this chain of articles, created the WCM libraries, and set up a simple workflow.

    In partake 2, they continue by creating the WCM edifice blocks required to create and render a separate article. More specifically they will be:

  • Creating a site area where content items will exist added.

  • Creating an authoring template for an article.

  • Creating a presentation template to render an article content item.

  • Setting various defaults and values to gain their lives easier in upcoming development.

  • Step 1: Create the Site Area

    On the article-list-content library, traipse to “Content” and click the “New” button -> Site area -> Default site area template.

    Set the name and parade title to “Articles” and click “Save and Close”.

    You should now relish something relish this:

    Image title

    Step 2: Create the Article Authoring Template

    To create a content particular in WCM, you requisite to relish an Authoring template.

    Note

    The authoring template is a shape you employ to create content items with, while the presentation template renders the content item(s).

    Under article-list-design, traipse to Authoring Templates, click on the ‘New’ button -> Content template.

    Image title

    Specify an commandeer name and parade title.

    Under the section ‘Location options’, specify that content items will exist created under their content library’s Articles site area:

    Location options

    Don’t worry about the ‘Default Presentation Template’ for now, they will set this soon.

    Now, add the custom elements for the authoring template. Click on ‘Manage Elements’ and add the following elements:

  • Title: Short Text element
  • Author (custom author): Short Text element. This author is the person that wrote the article and not the WCM author. In the future, they could add an ‘authors’ select box here.
  • Image: Captures their article image as an Image element.
  • Article lead: Text element; the Text constituent is an HTML ‘area’, while a short text constituent is an input. The article lead is the lead paragraph to point to in the list view as well as the first paragraph on the article detail view.
  • Article body: moneyed Text element, to allow a WCM author to provide html for the main corpse of the article.
  • The result should glimpse relish this:

    Image title

    Save and Close.

    Note

    It is first-rate practice to conceal elements on an authoring template that the WCM author does not requisite to use, or should not use. I likewise recommend providing assuage text for each element. It’s out of scope for this article on how to carry out this.

    Step 3: Create the Presentation Template

    The presentation template for an article will exist used to render out an individual article on a page.

    Under the article-list-design library, traipse to Presentation Templates and click current -> Presentation Template.

    Provide the name and title.

    Open up the plunker example and view the "articleDetail.html" file. Copy everything in the <article>...</article> straight into the presentation template.

    Once this is done, supersede everything the mock text with WCM constituent tags from the Article authoring template:

  • Highlight some mock text to supersede with an constituent from the content particular (via the authoring template elements);

  • Click on "Insert Tag", then select the commandeer element:

  • Tag ilk -> Element

  • Source particular ilk -> Content

  • Item context -> Current

  • Authoring template -> the article authoring template

  • Element to reference -> select the commandeer constituent from the authoring template

  • Inserting a tag

    The end-result is an constituent tag looking relish this (for the article title in this case):

    [Element context="current" type="content" key="Title"]

    Save and close.

    To review your changes, you can relish a glimpse at "article_list_listing_1.html" from the gist.

    Note on constituent tags

    For the article image, they want to employ the url and alt text only, as they want to employ bootstrap’s styling classes. With WCM constituent tags, you can request it to output a property of that element. For example, by default, an image constituent outputs the img tag, but you can declare it to output the URL instead:

    [Element context=”current” type=”content” key=”Image” format=”url”]

    Have a glimpse here for more information.

    Note on generic content particular properties

    For their article, they want to render the published date. This is a built-in property of any content item. To carry out this, you requisite to employ a Property tag (inserted in a similar artery to constituent tags).

    If I want to, for example, render out the current content item’s published date where the date is shown as e.g. Jun 7, 2016:

    [Property context=”current” type=”content” format=”DATE_MEDIUM” field=”publishdate”]

    You can read more on this here.

    Step 4: Set Template Default Content particular Properties

    Now that they relish an article authoring and presentation template, as well as workflow and a site area where their articles are created, they can set up defaults to assist the creation of content items and allow the article details page to parade correctly.

    Set the Presentation Template as Default

    Edit the article authoring template and select the presentation template they created earlier as the Default Presentation Template (under particular Properties).

    Save and Close.

    This will now ensure that content items created with this authoring template employ this presentation template by default.

    Specify Child Template Mappings

    We requisite to give the web content viewer (portlet) information on the benign of content items to exist rendered, as the viewer will requisite to render content items based on an incoming link (more on this later) as opposed to a specific content item. To carry out this, you declare the site area to render its children based on a child template mapping.

    Go to the article-list-content library and edit the Articles site area.

    Under Child Template Mappings, click ‘Manage Template Maps’.

    Click ‘Add’ and then browse for the Authoring Template and Presentation template they created.

    Child template mappings

    Click OK; you should now behold it displayed in the Manage Template Maps view:

    Manage template maps

    Select it and click OK. You should now relish a site area that looks relish this:

    Site area with child template mappings

    Summary

    This was quite a mouthful, but in partake II they created the edifice blocks for an individual article, namely an authoring and presentation template. They likewise set some defaults to assist us with content particular creation and provided defaults for the Site area storing their articles (as content items) so that the web content viewer portlet has something to work with.

    In partake 3, we'll tackle the article list view which will render out everything the articles listed under their site area.

    Topics:

    ibm websphere ,ibm ,web content management



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