The result came on the same day that the firm announced that Richard
O'Brien -- the chief of New York Stock Exchange-listed Newmont Mining --
would become Boart's chief executive, replacing ousted chief Craig
Kipp.
Boart chairman David McLemore, who has been acting in the
role since Mr Kipp's exit, said the firm's main indicators of rig use
and order backlog of drilling products had stabilised but the global
outlook for mining services remained unclear. It was looking to
restructure its cost base in preparation for any resurgence.
"Our customers clearly are re-setting their cost base and . . .Check out our selection of eyewear Optical frame
today! they're going to expect (us) to negotiate a new price for 2013
versus 2012 and we're well into that cycle, and it looks like our
planning for pricing going into 2013 is also in line with that, " Mr
McLemore said. Despite recent action to create greater efficiency at the
company, which slashed global job numbers and moved manufacturing to
low cost centres, Mr McLemore -- who will step down as chairman but
remain on the board -- said the biggest challenge remained on the cost
side as Boart looked to put in place a structure that was more
resilient.
"So that it's a true overhead that's got leverage on
it in the good times," he said.Our premium collection of quality
personalized keychains generously offers affordability in a custom keychain.
"We don't have any headcount numbers on that, but we do know that our
operating margins have got to improve by 2 or 3 per cent to be in line
with our peers . . . my view in terms of us leading the industry, in
terms of our operating margins, it's a two-year journey," he said.
Drilling
products revenue, including equipment and performance tooling, fell by
13 per cent for the period to $US495m, and earnings before interest,
taxes, depreciation and amortisation slumped by 19 per cent to $US107m.
The firm gave no specific guidance for this year but said consensus
expectations for revenue between $US1.7 billion and $US2bn was in line
with its forecasts.
Deutsche Bank analyst Craig Wong-Pan said
although the outlook remained uncertain it was a good result,Here's a
complete list of oil painting supplies for the beginning oil painter. with Boart coming in at the top end of guidance.
"The
working capital will continue to build and we won't see a recovery in
that working capital until the second half of this financial year," he
said.
Total revenue was flat at $US2bn, in line with earlier
guidance, while EBITDA came in slightly above revised guidance at
$US322m -- a long way from initial expectations announced last year of
$US460m. Board member Barbara Jeremiah was elected to the chairman's
position.
Bucks County Fire Marshal Walter M. Carwithen said the
cause of the fire is unknown at this time and under investigation. The
ruins were still smoldering as of Saturday morning. Damage to the
building, furnishings and equipment could go as high as $150,000.
The three-building complex, topped by a 19th century bell cupola, formerly served as the Doylestown Public School.
The
fire, which was reported at 2:15 p.m. Friday, apparently started in the
abandoned third floor of the main grey stone building and spread to the
second floor. The roof later collapsed in flames. The red brick annex
adjacent to the main building was heavily damaged by smoke, water and
falling debris.
A torch 50 feet high, five stories above the top
of the hill around which Doylestown is built, was visible for at least
four miles. It consumed the building's cupola in a sunny, cold setting
of rainbows from the spray of firemen's hoses.
Firemen from nine volunteer fire companies,Bay monitoring and parking guidance system
come together in seamless integration offering more benefits. two
rescue squads and an ambulance corps were involved. Fire companies
fought the flames for more than three hours before getting the fire
under control. Four provided auxiliary service.
Close to 1,000 persons ringed the site. As spectators left, more arrived on the scene.
Since
1966, when the county bought the complex for $80,000, the main building
housed offices of the Bucks County Public Schools Intermediate Unit 22,
the Central Bucks YMCA, the Bucks Neighborhood Youth Corps, the Bucks
District Soil Conservation Service and the U.S. Navy recruiting office.
The
brick addition, built in 1912, was used as a major storage facility for
priceless county records, including deeds, wills and marriage licenses,
some dating to the 1680s.Find the best iPhone headset for you A third building to the rear of the main building, constructed in 1925, is vacant. It escaped serious damage.
Dr.
Albert Neiman, assistant executive director of the Intermediate Unit,
whose office was on the second floor of the main building, discovered
the flames in a former science laboratory on the dusty third floor.
"I smelled the smoke and ran upstairs. There were flames shooting up. Everybody started to yell to get out," he said.
Neighborhood
children and county officials formed chain lines to pass on cartons and
files of documents. Pulled from the smoldering complex were about 300
hardbound marriage license dockets and more than 600 metal files of
wills.
In addition, thousands of other records of the
prothonotary and district attorney were safely left in wire-mesh pens in
the annex after the flames were repulsed. Also saved was a collection
of 75 stuffed big game animal trophies, valued at $100,000, donated to
the county for educational purposes.
County building supervisor
John Hofman coordinated the effort to save the records. He said a county
truck took the material to the county-owned Roads and Bridges Building
on Route 413 in Buckingham Township.
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