• “As a three-time winner of the GRAA Top 50 Ranges, Red Ledges has received the positive recognition as one of the top private golf facilities in the state of Utah. This notoriety has brought numerous new golfing members and golf school students to Red Ledges, which has significantly increased operational revenues.”

    - Jon Paupore, Red Ledges

  • “It’s a pretty awesome publication that the GRAA has. Hats off to Rick Summers and his wonderful staff. The content is always great and relevant. I’m currently starting to implement some of the ideas I’ve seen in the magazine and emails.”

    - Greg Mason, Waverly Municipal Golf Course

  • “Since being named one of GRAA’s Top 50 Growth of the Game Teaching Professionals my lesson book has exploded! I’m as busy as I can be. Thank you for this honor.”

    - Mike Richards, Mike Richards Golf Academy

  • “The GRAA is a great resource for our business. It is a vehicle through which we can stay relevant, keep up with the latest and greatest and assist in running a top-notch operation.”

    - David Beltre, Chelsea Piers

  • “The GRAA provides great information and covers a broad spectrum of topics to help me grow my business! I’ve kept in touch with many professionals I met at the Boot Camp, and have continually shared ideas.”

    - Brad Latimer, Smiley’s Golf and Learning Center

  • “Always great to hear ideas from the industries best. Great GRAA Boot Camp at Fiddler’s Elbow.”

    - Doug Holub, Fairchild Wheeler Golf Course

  • “More than anything, the GRAA has provided me new ideas and ways to help people play better golf and enjoy the game more. The videos and articles in Golf Range Magazine often give me a different view on a training aid or fresh perspective on a drill/exercise that I may not have used for some time.”

    - Andy Hilts, GolfTec

  • “The GRAA is an amazing resource for all phases of golf. Their association encourages golf professionals and facility operators to get excited about utilizing our range to grow this great game. The GRAA’s information is extremely helpful and relevant in today’s world of golf.”

    - Kathy Gildersleeve-Jensen, Jensen Lindebald Impact Golf Academy

  • “The GRAA certainly acts as a resource and avenue to research great ideas from leading industry professionals.”

    - Chad Fleming, TPC Jasna Polana

  • “Every PGA Professional should have a chance to attend a GRAA Boot Camp!”

    - Will Reilly, Royal Palm Beach Golf Academy

  • “In our highly competitive market, Golf Range Magazine is one of my best sources for proven best practices and operational issues that pertain to the range.”

    - Mike Woods, Haggin Oaks Golf Complex

  • “I read GRAA Best Practices and Golf Range Magazine. After reading the topics, I apply the practices that make sense for my operation and modify them to meet the needs of my customers. These have had a positive impact on my business.”

    - Rob Sedorcek, Country Club of St. Albans

  • “Being involved with the GRAA is one of the best business decisions I have made. It helps me keep up-to-date with the latest information that is going on in the industry. I highly recommend you get involved.”

    - Rick Grayson, Rivercut Golf Course

  • “We have been very happy with our relationship with the GRAA. I read much of Golf Range Magazine each month and I archive the ‘Best Practices’ so that when we are looking at something new I can go back and see if someone has already had that experience. Having that information readily at hand is very valuable.”

    - Danny Elkins, Georgia Golf Center

  • “GRAA Boot Camps are a wonderful forum for professionals to gather and get new information and exchange ideas that can make us better professionals and operators. The value of these events is immeasurable.”

    - Bill Abrams, Balmoral Woods

  • “We can be an isolated industry when we are in the midst of our busy seasons. As a GRAA member, we appreciate the connection to others in our industry that Golf Range Magazine and the GRAA Best Practices provide.”

    - Rick Kline, PGA, Sittler Golf Center

  • “The GRAA Boot Camp was outstanding! Seeing the junior golfer so entertained by Nicole Weller was exciting to watch and good to see people like Patrick and Ryan of the GRAA willing to find the challenges that we face in the business.”

    - Lee Puddlefoot, Olde Hickory Golf and Country Club

  • “I am very supportive and appreciative of the GRAA’s efforts to emphasize golf ranges in every capacity. This organization has a huge potential to greatly benefit operators and PGA members.”

    - Joel Weitz, Vitense Golfland

  • “The GRAA and its products provide me with a wealth of knowledge. As a teaching professional, the coverage the GRAA gives to instruction is invaluable to me, providing me with ideas and best practices from some of the best instructors in the country!”

    - Lou Guzzi, PGA, Lou Guzzi Golf Academy

  • “The GRAA is a great resource for any driving range (stand alone, public, private or resort) to use for networking and operational information. Golf Range Magazine and the Best Practices are invaluable products that provide proven ideas that can help all facilities use the range to drive revenue and grow the game!”

    - Greg Mason, Waverly Municipal Golf Course

  • “I always enjoy your Best Practices emails as they are chock filled with much, valuable information. Keep them coming!”

    - Judy Alvarez, The Florida Club

  • “Being a part of the Golf Range Association of America has given me the opportunity to network with fellow PGA Professionals who share the same passion for growing the game of golf.”

    - Adam Smith, Salisbury Country Club

  • “The GRAA Boot Camp program is excellent. I will be looking forward to the next one!”

    - Tom Burley, Indian Wells Golf Resort

  • “The GRAA’s Golf Range Magazine and Best Practice e-mails do an unbelievable job portraying how to grow the game and take instruction to the next level.”

    - Michael Haywood, PGA, Tucson C.C.

  • “The GRAA Boot Camp was awesome! Great chance to meet and share with some of the best in the business! Keep it up.”

    - Jason Sedan, Orchid Island Golf & Beach Club

  • “The sharing of ideas from both the GRAA Boot Camps and Golf Range Magazine is excellent! In a challenging economy, with golf being down not only in rounds played, but equipment and apparel sales, we need to rely on each other to continue to drive ideas for our patrons, customers, and members.”

    - Dan Baker, Golf Galaxy

  • “I support the GRAA in their Boot Camps, as well as all other opportunities to participate. Why? Because they do a tremendous job of recognizing the many deserving golf teachers across the country.”

    - Dana Rader, Dana Rader Golf School

  • “The exchange of ideas at with other PGA professionals at the Mistwood GRAA Boot Camp and the practice facility design presentation were awesome and terrific. Great job!”

    - Ed Stevenson, Oak Meadows Golf Club

  • “Having the opportunity to share my best practices’ with the GRAA community has encouraged great feedback from my peers that I have used to further enhance my own programs. It is important for professionals to share their innovative ideas to continue growing the game.”

    - Scott Shapin, Kenwood Golf & Country Club

  • “The past two years Liberty National has been given the honor of a GRAA Top 50 Golf Range. This is something we are very proud of and would like to thank GRAA for inspiring us to continue to improve our range operation through best practices and keeping us updated on industry trends. Thank you GRAA!”

    - Dan Schleichart, Liberty National

  • “I have been using Golf Range Magazine to help me stay current and to learn about trends in the industry. I have found the articles particularly useful in learning about what others have done to stay ahead of the curve. They have also given me ideas on what I can do to make our facility better. Thank you for making us all better.”

    - Dale Abraham, Desert Mountain Club

  • “It was very exciting to be able to host a GRAA Boot Camp at our facility. Having taught at one the previous year, I knew it would be a very professionally run event attracting golf professionals from the area. The GRAA has really created a nice traveling product that is a must-attend if in your area!”

    - Nicole Weller, The Landings Club

  • “The GRAA has been an outstanding resource for not only Fox Hollow training center, but the three other ranges in our golf system. Golf Range Magazine keeps us on the leading edge of industry best practices across the country.”

    - Mike Messina, Fox Hollow Driving Range

  • “Being recognized as one of the GRAA Top 50 Private Ranges in the country helped our membership grow to a full 300 golf members. We look forward to gathering more ideas in the future from the GRAA, and continuing to improve our golf facilities and the service to our membership.”

    - Dave Bahr, Maketewah Country Club

  • “I really enjoy using the GRAA as a resource for my golf operations. From the best practices to equipment reviews, I can always count on the GRAA to help improve on what we do.”

    - Don Hurter, Castle Pines Golf Club

  • “GRAA allows me see what my peers are up to and that really helps me come up with new ideas for our practice areas and teaching programs.”

    - Steve Dresser, Steve Dresser Golf Academy

  • “The GRAA has been tremendous for our practice range and golf club. It is our go to resource for creative ideas, promotions and vendor referrals.”

    - Stephen Clancy, Granite Links Golf Club

  • “Thanks so much for an informative GRAA boot camp. I can’t wait to do it again.”

    - Marty Stumpf, Farmer Brown’s Golf Center

  • “The GRAA Boot Camp is a very good networking experience. Meeting and building relationships with the sponsors is very beneficial. I have connected with PowerTee and now have an installation in Minnesota — A very good ‘win-win situation’ if notfor the Boot Camp at TPC Twin Cities.”

    - Jim Deutsch, University of St. Thomas

  • “The recent GRAA Boot Camp was upbeat and informative. It was wonderful to hear great speakers like Lou Guzzi and Stephen Kay. I left the Boot Camp with more ideas than expected and will definitely attend another.”

    - Sean Driscoll, Big Swing Golf Center

  • “I got some great ideas from the GRAA Boot Camp, which got me thinking of different ways to implement programs at my facility.”

    - Fred Glass, Neshanic Valley Golf Course

  • “I love to read the GRAA best practices and articles. New ways to do things or something a little different is hard to think of when we are all consumed in our own facilities. I also like that GRAA has incorporated videos, which is even more descriptive and love to see the visual aspect.”

    - Shawn Cox, The Grand Golf Club

  • “Having experienced a growth in junior golf, equipment fitting along with the plans of building a new short game facility, GRAA has been a great tool to help us find ways to improve our bottom line.”

    - Rob Clark, The Ledges of Huntsville Mountain

  • “The GRAA is great to work with because their goal truly is to help get, and keep, people interested in the game of golf. The association is very adamant about helping to promote the best facilities and instructors who do that!”

    - Scott Hogan, Scott Hogan Golf

  • “The golf architect talk at the GRAA Boot Camp was very eye opening! Great ideas to take back right away!”

    - Alan Manley, Augusta Technical College

  • “Thank you for bringing your GRAA Boot Camp to NJ – it was terrific! We got a lot of new ideas.”

    - Sue Delaney, Basking Ridge Country Club

  • “I have to say thanks to the GRAA for hosting their Boot Camps. Great agenda and excellent program!”

    - Patrick Casey, Brentwood Country Club of Los Angeles

  • “Outstanding event! Meeting all of the astute fellow professionals and the private session the first evening with Lester George were the highlights of a great GRAA Boot Camp at Kinloch.”

    - Kevin Lovell, Winton Country Club

  • “Dulles Golf Center and the Chuck Will Golf Academy have had a long standing, positive relationship with the GRAA. Through seminars, Golf Range Magazine, and Best Practices, we have gained valuable information and ideas that not only improve our facility, but directly impact our bottom line!”

    - Chuck Will, Dulles Golf Center

  • “The GRAA is not just for driving ranges! Our golf courses benefit tremendously from our relationship with the GRAA. They provide us a wealth of knowledgeable resources in all facets of our operations from food & beverage to golf course maintenance and everywhere in between.”

    - Carl Filipowicz, Traditional Golf Properties

  • “The GRAA best practices have been fun to read and always creative. Holding outings on the wedge range and hosting a demo day for women are just two ideas we have implemented.”

    - Mike Barge, Hazeltine National Golf Club

  • “The GRAA Boot Camp was a great experience and I learned a lot. It was great having Mike Malaska there; he really kept things interesting and was very helpful with his insight. I look forward to more educational opportunities through the GRAA.”

    - Chris Talerico, Santa Barbara Golf Club

  • “Our association with the GRAA goes back several years now. In that time, Shadow Ridge Country Club has been recognized as the region’s leader in practice area and driving range development. We really enjoy your ‘best practices’ features.”

    - Gary Gabrielson, Shadow Ridge Country Club

  • “Golf Range Magazine has been a great resource for me and our facility to keep us up to speed on GRAA Best Practices and what is happening in the golf industry. I look forward to each issue to see what nugget of information will be helpful to our operation.”

    - Tiffany Faucette, 1757 Golf Academy

  • Golf Range Magazine, GRAA Best Practices and Boot Camp are all great ways to pick up new ideas that have been successful at other facilities in order to enhance my operation. Everything I’ve seen the GRAA do is a home run!”

    - Brian Varsey, Ocean Reef Club

  • “I actually learned something when I attended the GRAA Boot Camp, which is not always the case with those type of events. I was able to take away few ideas from the facilitators, and watching Keith Lyford reconfirmed that I am teaching the correct way to improve my students quickly.”

    - Phil Green, Home On The Range

  • “Taking ideas that have been presented by Golf Range Magazine and GRAA best practices, then customizing those ideas to fit our facility has been so beneficial to Pine Meadow. My advice, read the magazine, read the GRAA best practices, you just never know where they may take you or your staff.”

    - Dennis Johnsen, Pine Meadow Golf Club

  • “The GRAA staff was great at keeping on track and initiating discussion at the recent GRAA Boot Camp at Trump National – Los Angeles. There was way more interaction than I have seen at past educational seminars. Keep up the good work!”

    - Chris Talerico, Santa Barbara Golf Club

  • “I love to read the GRAA best practices and articles. New ways to do things or something a little different is hard to think of when we are all consumed in our own facilities. I also like that GRAA has incorporated videos, which is even more descriptive and love to see the visual aspect.”

    - Shawn Cox, The Grand Golf Club

  • “I am very supportive and appreciate of your efforts to emphasize golf ranges in every capacity. The GRAA has huge potential to greatly benefit operators and PGA members.”

    - Joel Weitz, Vitense Golfland

  • “I took away several ideas from the GRAA Boot Camp at Kinloch that I think will help enhance my business. Thought the ideas were good and learned a lot from others doing things differently. Loved exchanging ideas with different operators.”

    - Jay Perkins, Bel Air Golf Center

  • “We pride ourselves and work very hard to maintain and grow our facility. It is always nice to be rewarded for our work, especially from a well respected and leading industry organization such as the GRAA.”

    - Phil Scally Jr., Scally’s Golf Center

  • “GRAA best practices provide new and exciting ideas that we may be able to incorporate at TopGolf. Even if it’s not something that can be directly implemented at TopGolf, it tends to stimulate thinking towards related items that may be used at our facilities.”

    - Mark Caster, TopGolf

  • “We can be an isolated industry when we are in the midst of our busy seasons. As a GRAA member, we appreciate the connection to others in our industry that the magazine and best practices provide.”

    - Rick and Patty Kline, Sittler Golf Center

  • “I was fortunate to attend the recent GRAA Boot Camp at Fiddler’s Elbow. Hearing Stephen Kay present and to be so engaging concerning practice facility design and me being able to talk to other operators, to learn what is working for them, were both truly valuable.”

    - Bob Issler, Tom’s River Golf Center

  • “Loved the exchange of ideas at the GRAA boot camp. The GRAA staff kept the interest level high.”

    - Mimi Brown, Brown Golf Management

  • “The GRAA Boot Camp was great and I feel fortunate to have the opportunity to attend. Many best practices shared by experts at other facilities can only help to improve revenue and profitability at my facility. Even just implementing one idea learned from the GRAA Boot Camp makes it well worth attending.”

    - Joel Weitz, Vitense Golfland

  • “The GRAA provides valuable industry information from the top teachers in the game on player development and programming. My bottom line has been directly impacted from the information provided.”

    - Jim Estes, Olney Golf Park

  • “In our highly competitive market, Golf Range Magazine is one of my best sources for proven best practices and operational issues that pertain to the range.”

    - Mike Woods, PGA, Haggin Oaks Golf Complex

  • “The GRAA Boot Camp at Haggin Oaks was a great opportunity to brainstorm with fellow professionals and to get some fresh ideas to try at my facility!”

    - Keith Lyford, Old Greenwood

  • “The GRAA boot camp I attended was informal, and educational. Learning from PGA National Teacher of the Year, Lou Guzzi, was a valuable experience. Definitely helped me improve as an instructor and the bottom line of my facility!”

    - Jason Blonder, Ash Brook Golf Course

  • “I wanted to thank you again for allowing me the opportunity to attend the GRAA Boot Camp. The event was very well organized and the learning opportunities were tremendous!”

    - Paul Vasquez, Muroc Lake Golf Course

  • “Dancing Rabbit Golf Club greatly values our relationship with the GRAA and is very proud of the recognition we have received. The GRAA helps all facilities to offer and show the best ideas, amenities and services possible for all golfers to enjoy.”

    - Mark Powell, Dancing Rabbit Golf Club

GRAA News, Press Releases

November 8, 2017

Acushnet Holdings Corp. Announces Third Quarter and Year-to-Date 2017 Financial Results

Third Quarter and Year-to-Date 2017 Financial Results

  • Third quarter net sales of $347.3 million, up 2.3% year over year, or up 2.9% in constant currency
  • Year-to-date net sales of $1,208.9 million, down 2.7% year over year, or down 2.0% in constant currency
  • Third quarter net income attributable to Acushnet Holdings Corp. of $9.3 million, up $14.8 million year over year
  • Year-to-date net income attributable to Acushnet Holdings Corp. of $80.4 million, up $35.2 million year over year
  • Third quarter Adjusted EBITDA of $32.2 million, up 15.0% year over year
  • Year-to-date Adjusted EBITDA of $182.5 million, down 4.1% year over year

Quarterly Cash Dividend

  • Declares quarterly cash dividend of $0.12 per share; $8.9 million on an aggregate quarterly basis

Fairhaven, Massachusetts – November 8, 2017 – Acushnet Holdings Corp. (NYSE: GOLF) (“Acushnet”), a global leader in the design, development, manufacture and distribution of performance-driven golf products, today reported financial results for the three and nine months ended September 30, 2017.

Wally Uihlein, Acushnet President and CEO said, “We are encouraged to see that the global golf industry continues to structurally improve through the first nine months of 2017. While near-term, US demand trends have been impacted as the focus shifted to important life priorities in areas hit by the recent hurricanes, it is good to see many areas are recovering well as a sense of normalcy returns. We are confident that our proven strategy, dedicated associates and valued trade partners will enable us to leverage a stronger industry and extend our success over the long term.”

David Maher, Acushnet COO said, “Acushnet delivered a solid third quarter with global growth driven by the United States and South Korea. We are particularly pleased with the recent launch of the Titleist 818 hybrids and the 718 irons including the new AP3. Tour adoption was strong at introduction, the global roll-out with our trade partners was well executed, and initial golfer response to these new golf clubs has been terrific. New Titleist DT TruSoft golf balls and FootJoy’s DNA Helix golf shoes were also launched successfully in the quarter. Looking forward, the Acushnet innovation engine is in high gear and we are excited about the many new product offerings coming from Titleist and FootJoy in 2018.”

Summary of Third Quarter 2017 Financial Results

Consolidated net sales for the quarter increased by 2.3%, or by 2.9% on a constant currency basis, driven primarily by the launch of the Titleist 718 irons and 818 hybrids.

On a geographic basis, consolidated net sales in the United States increased by 4.6% in the quarter. Net sales in regions outside the United States were down 0.1%, and up 1.1% on a constant currency basis, with Korea up 6.4% and Rest of World up 6.3%, offset by Japan down 6.9%.

Segment specifics:

  • 3.5% decrease in net sales (3.1% decrease on a constant currency basis) of Titleist golf balls driven by sales volume declines in both Pro V1 and performance models.  In the United States, sales volumes were impacted by unfavorable weather conditions as well as increased competitive promotional activity in the marketplace.
  • 9.5% increase in net sales (10.3% increase on a constant currency basis) of Titleist golf clubs due to higher sales volumes, primarily due to product launches in our iron series and hybrids.
  • 1.3% increase in net sales (2.1% increase on a constant currency basis) of Titleist golf gear. This increase was primarily due to sales volume growth in our travel gear category.
  • 3.3% increase in net sales (3.7% increase on a constant currency basis) in FootJoy golf wear primarily due to higher average selling prices and a sales volume increase in our apparel category.

Net income attributable to Acushnet improved by $14.8 million to $9.3 million, primarily as a result of lower interest expense and higher income from operations, partially offset by higher income tax expense.

Adjusted EBITDA was $32.2 million, up 15.0% year over year. Adjusted EBITDA margin was 9.3% for the third quarter versus 8.3% for the prior year period.

Summary of First Nine Months 2017 Financial Results

Consolidated net sales for the first nine months of 2017 decreased by 2.7%, or by 2.0% on a constant currency basis.

On a geographic basis, consolidated net sales in the United States decreased by 3.0% in the nine-month period. Net sales in the United States were impacted by a reduced store count as a result of the retail channel disruptions in 2016 as well as unfavorable weather conditions which negatively impacted both rounds of play and golf club fitting and trial activities. Acushnet posted a year-on-year decline in net sales in regions outside the United States of 2.4%, down 0.8% on a constant currency basis, with Korea up 11.9%, offset by Japan down 10.4%.

Segment specifics:

  • 2.7% decrease in net sales (2.1% decrease on a constant currency basis) of Titleist golf balls. This decrease was primarily driven by a sales volume decline of our performance golf ball models which were in their second year of the two-year product life cycle and was partially offset by a sales volume increase of our newly introduced Pro V1 and Pro V1x golf balls.  In the United States, sales volumes were impacted by a reduced store count as a result of the retail channel disruptions in 2016, unfavorable weather conditions which negatively impacted rounds of play, as well as increased competitive promotional activity in the marketplace.
  • 10.0% decrease in net sales (9.2% decrease on a constant currency basis) of Titleist golf clubs.  This decrease was primarily driven by lower sales volumes of Vokey Design wedges, which were in their second model year, and prior generation irons.  In the United States, sales volumes were impacted by a reduced store count as a result of the retail channel disruptions in 2016 as well as unfavorable weather conditions which negatively impacted golf club fitting and trial activities.  This decrease was partially offset by an increase in average selling prices, in particular for the new 917 model drivers and fairways.
  • 5.0% increase in net sales (5.4% increase on a constant currency basis) of Titleist golf gear. This increase was primarily due to higher average selling prices in all categories and higher sales volume growth in the travel category.
  • 1.7% decrease in net sales (0.5% decrease on a constant currency basis) in FootJoy golf wear primarily due to a sales volume decline in footwear, partially offset by a sales volume increase in apparel.

Net income attributable to Acushnet improved by $35.2 million to $80.4 million, primarily as a result of lower interest expense and higher income from operations.

Adjusted EBITDA was $182.5 million, down 4.1% year over year. Adjusted EBITDA margin was 15.1% versus 15.3% for the prior year period.

Declares Quarterly Cash Dividend

Acushnet Holdings board of directors today declared a quarterly cash dividend in an amount of
$0.12 per share of common stock. The dividend will be payable on December 15, 2017, to stockholders of record on December 1, 2017. The number of shares outstanding as of September 30, 2017 was 74,451,977.

Updated 2017 Outlook

  • Consolidated net sales are expected to be approximately $1,545 to 1,555 million in 2017.
  • Consolidated net sales on a constant currency basis are expected to be in the range of a decrease of 1% to a decrease of 0.4% in 2017.
  • Adjusted EBITDA is expected to be approximately $220 to 225 million in 2017.

Investor Conference Call

  • Acushnet will hold a conference call at 8:30 am (Eastern Time) on November 8, 2017, to discuss the financial results and host a question and answer session. A live webcast of the conference call will be accessible at www.AcushnetHoldingsCorp.com/ir. A replay archive of the webcast will be available shortly after the call concludes.

About Acushnet Holdings Corp.

  • We are the global leader in the design, development, manufacture and distribution of performance-driven golf products, which are widely recognized for their quality excellence. Driven by our focus on dedicated and discerning golfers and the golf shops that serve them, we believe we are the most authentic and enduring company in the golf industry. Our mission – to be the performance and quality leader in every golf product category in which we compete – has remained consistent since we entered the golf ball business in 1932. Today, we are the steward of two of the most revered brands in golf – Titleist, one of golf’s leading performance equipment brands, and FootJoy, one of golf’s leading performance wear brands. Additional information can be found at www.acushnetholdingscorp.com.

Forward-Looking Statements

This release includes forward-looking statements that reflect our current views with respect to, among other things, our operations and financial performance. These forward-looking statements are included throughout this release and relate to matters such as our industry, business strategy, goals and expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources and other financial and operating information such as our anticipated consolidated net sales, consolidated net sales on a constant currency basis and adjusted EBITDA. We use words like “guidance,” “outlook,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable” and similar terms and phrases to identify forward-looking statements in this release.

The forward-looking statements contained in this release are based on management’s current expectations and are subject to uncertainty and changes in circumstances. We cannot assure you that future developments affecting us will be those that we have anticipated. Actual results may differ materially from these expectations due to changes in global, regional or local economic, business, competitive, market, regulatory and other factors, many of which are beyond our control. Certain of these factors and other cautionary statements are included in this release or in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis” in our Annual Report on Form 10-K for the year ended December 31, 2016 filed with the SEC on March 30, 2017 as updated by our periodic reports subsequently filed with the SEC. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, our actual results may vary in material respects from those projected in these forward-looking statements.

Any forward-looking statement made by us in this release speaks only as of the date of this release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, investments or other strategic transactions we may make. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

Comments

comments