Sonata Software and Qualtrics Partner to Transform Customer Experience for Global Brands
BENGALURU, India and LONDON, May 27, 2025 /PRNewswire/ — Sonata Software (NSE: SONATSOFTW) (BSE: 532221), a leader in Modernisation Engineering, today announced a partnership with Qualtrics the leader and creator of the Experience Management (XM) category, aimed at delivering a comprehensive, technology-driven customer experience management solution for global enterprises.
This collaboration combines Qualtrics' best-in-class XM for Customer Experience™ suite with Sonata Software's global systems integration services and extensive consulting, measurement and implementation capabilities powered by Sonata CX. The end-to-end offering is designed to help enterprises meet rising customer expectations, deliver hyper-personalised experiences and reimagine customer-brand relationships while enhancing operational efficiency and service quality.
By integrating deep technological capability with human-centred insight, this partnership enables organisations to effectively listen, understand and act on customer feedback across all touchpoints. Combining the Qualtrics AI-powered experience management platform that enables organisations to collect and analyse customer feedback in the moment across multiple channels with Sonata Software's proven delivery expertise and Sonata CX's field-based measurement solutions – including mystery shopping, compliance audits, and strategic CX consulting – clients can evolve their customer experience operations and foster a culture of continuous improvement at scale, by combining best in class digital and physical evaluations.
'Organisations stand to gain an estimated $1.3 trillion by using AI to better understand and improve the experiences they deliver to customers,' said Sean Holcombe, Global Head of Strategic Sales, Partner Ecosystem and GTM Excellence at Qualtrics. 'Combining Qualtrics innovative AI-powered CX platform with Sonata CX enables organisations to build industry leading experience management programs that ensure consistency, efficiency, and loyalty at every stage of the customer journey.'
'The global customer experience management market size is expected to grow significantly in the coming years, driven by a fundamental shift in customer behavior and heightened competition for delivering superior experiences across physical and digital touchpoints,' said Anthony Lange, Chief Revenue Officer at Sonata Software. 'Our collaboration with Qualtrics offers clients a powerful fusion of technology, insight, and execution, enabling them to not just listen to their customers but to truly understand and respond meaningfully across physical and digital customer touchpoints in real-time.'
With a global reach of more than 80 markets, this partnership supports cross-industry clients in their quest to deliver exceptional experiences that distinguish their brands in an increasingly competitive landscape. Both companies bring decades of experience managing complex, global programmes, by a shared commitment to innovation, scalability, and impactful outcomes.
About Sonata Software
In today's market, there is a unique duality in technology adoption. On one side, extreme focus on cost containment by clients, and on the other, deep motivation to modernise their Digital storefronts to attract more consumers and B2B customers.
Sonata Software, with $1 Billion Revenue, is the leading Modernisation company. Its unique Modernisation approach through Platformation.AI helps create efficient and agile digital businesses to drive intelligent ecosystems of the future. Its suite of Modernisation Engineering Services cuts across Data, Cloud, Dynamics, Automation, Cyber Security, and around newer technologies like Generative AI, Microsoft Fabric, and other modernisation platforms.
The company's unique and innovative responsible-first AI offering Sonata Harmoni.AI is a comprehensive platform powered by GenAI and encompasses a variety of industry solutions, service delivery platforms, and accelerators. It is distinguished by its embedded ethics, privacy, security, and compliance, enabling clients to leverage AI in three different ways: i) driving efficiencies, ii) driving higher consumer experience/modern sales, and iii) driving innovative business models.
Headquartered in Bengaluru, India, Sonata Software has a strong global presence, including key regions North America, UK, Europe, APAC, and ANZ. It is one of the fastest growing IT Services companies and a trusted partner of Fortune 500 companies in Banking, Financial Services and Insurance (BFSI); Healthcare and Lifesciences (HLS); Telecom, Media, and Technology (TMT); and Retail, Manufacturing and Distribution (RMD) space.
Sonata Software boasts of a very strong partnership with Microsoft, AWS and many others. The company is a proud member of Microsoft AI Partner Council, holds the AWS Generative AI Competency status, and is a member of the prestigious Inner Circle for Microsoft Business Applications and Featured and Launch Partner for Microsoft Fabric.
For more information, please visit https://www.sonata-software.com/
Logo: https://mma.prnewswire.com/media/2681656/Sonata_Software_logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/sonata-software-and-qualtrics-partner-to-transform-customer-experience-for-global-brands-302465818.html
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysian Reserve
2 hours ago
- Malaysian Reserve
Elixir MD Launches Australia & New Zealand Subsidiary in Exclusive Partnership with High Tech Medical Pty. Ltd.
IRVINE, Calif. and QUEENSLAND, Australia, Aug. 1, 2025 /PRNewswire/ — ELIXIR MD, Inc., a pioneer in advanced medical technology and proprietary treatment protocols for plastic surgery, today announced the formation of its wholly owned subsidiary in Australia and New Zealand, alongside an exclusive partnership with High Tech Medical Pty Ltd. to launch the ELIXIR MD™ device across the region. Ewan Mohammed, CEO of ELIXIR MD, Inc., stated:'We're proud to join forces with High Tech Medical—Australia and New Zealand's leading medical technology partner—to bring the ELIXIR MD™ device to facial surgery patients across one of the world's fastest-growing cosmetic markets. With more than 25 years of proven commitment to clinical excellence, High Tech Medical brings deep market insight and trusted relationships throughout the aesthetic medical community. Their long-standing success in introducing advanced technologies to Australians and New Zealanders makes them the ideal partner for ELIXIR MD, Inc.' Matt Moncrieff, Managing Director of High-Tech Medical Pty Ltd., added:'High Tech Medical is proud to work exclusively with ELIXIR MD, Inc., Ewan and the entire team have demonstrated a clear commitment to innovation and to reshaping the perioperative care model in plastic surgery. The ELIXIR MD™ device and its proprietary treatment protocols represent a new gold standard in post-surgical recovery by significantly reducing patient downtime and improving outcomes.' Australia and New Zealand: A Rising Market for Surgical Innovation Australian cosmetic surgery market reached approximately $1.8B in 2024, with expected growth to $3.9B by 2033, reflecting a CAGR of ~9.3% (IMARC Group, Rentech Digital). Facial cosmetic surgery—the category where ELIXIR MD™ is uniquely focused—is the fastest-growing segment of the cosmetic surgery market in Australia, with a projected CAGR of approximately 14.1% through 2030 (Grand View Research). Demand for face and eyelid surgeries (e.g. blepharoplasty, facelifts) is rising sharply in Australia and New Zealand, in key part driven by post-weight loss volume depletion and rejuvenation surgery (Daily Telegraph). About High Tech Medical Pty in 1999, High Tech Medical is one of the most respected providers of specialist aesthetic medical devices across Australia and New Zealand. With over two decades of leadership, the company has introduced breakthrough technologies that support minimally invasive treatments, reduce patient risk and downtime, and improve clinical outcomes. High Tech Medical is known for its consultative approach—helping practitioners select and integrate complex, high-performance systems into their practices with confidence. About ELIXIR MD, in Irvine, California, ELIXIR MD, Inc. is a medical technology company redefining recovery in plastic surgery through non-invasive, perioperative innovations. Now operating in 18 markets—including a wholly owned subsidiary in Australia and New Zealand—our FDA-cleared ELIXIR MD™ technology is built to support faster healing and better outcomes for surgeons and their patients worldwide.
Malaysian Reserve
a day ago
- Malaysian Reserve
FMC Corporation Reports Second Quarter Results at High End of Guidance Range
Maintains full year adjusted EBITDA and adjusted EPS guidance; announces sale of India commercial business Second Quarter 2025 Highlights Revenue of $1.05 billion, up 1 percent versus Q2 2024, up 2 percent organically1 Consolidated GAAP net income of $67 million, a decline of 77 percent versus Q2 2024 Adjusted EBITDA of $207 million, up 2 percent versus Q2 2024 Consolidated GAAP net income of $0.53 per diluted share, down 77 percent versus Q2 2024 Adjusted earnings per diluted share of $0.69, an increase of 10 percent versus Q2 2024 Full-Year Outlook2 Revenue outlook of $4.08 billion to $4.28 billion, excluding India, down 2 percent at the midpoint versus 2024 reported results, which included India Maintains adjusted EBITDA outlook of $870 million to $950 million, an increase of 1 percent versus prior year at the midpoint Adjusted earnings per diluted share outlook unchanged at $3.26 to $3.70, flat at the midpoint to prior year Free cash flow forecast remains $200 million to $400 million, reflecting a decline of 51 percent at the midpoint from prior year PHILADELPHIA, July 30, 2025 /PRNewswire/ — FMC Corporation (NYSE:FMC) today reported second quarter 2025 revenue of $1.05 billion, up 1 percent versus second quarter 2024, and up 2 percent organically. On a GAAP basis, the company reported net income of $0.53 per diluted share in the second quarter, a decrease of 77 percent versus second quarter 2024 due to gains related to tax incentives recorded in the prior year. Second quarter adjusted earnings were $0.69 per diluted share, up 10 percent versus second quarter 2024. Higher second quarter revenue was driven by volume growth of 6 percent as customers in most countries appear to have reached target channel inventory levels for FMC products. Price declined 3 percent, over half of which was attributed to price adjustments in certain 'cost-plus' contracts with specific diamide partners as a result of lower manufacturing costs. Foreign currency was a headwind of 1 percent3. The company's growth portfolio increased by high-single digits while core portfolio sales were essentially flat. Sales in North America declined 5 percent as solid branded growth in the U.S. was more than offset by lower volume from expected destocking in Canada. Latin America sales were 1 percent higher than prior year, 5 percent higher excluding currency impacts, aided by solid growth of new active ingredients fluindapyr and Isoflex™ active. In Asia, sales were lower by 17 percent, down 15 percent excluding currency impacts, due to lower pricing as well as reduced volume driven by ongoing destocking activity in India. EMEA sales increased 29 percent, 27 percent excluding currency impacts. Growth was driven by strong volume gains particularly for herbicides, diamide partners, and branded Cyazypyr® products. The Plant Health business grew 3 percent driven by gains in biologicals. FMC Revenue Q2 2025 Total Revenue Change (GAAP) 1 % Less FX Impact (1) % Organic1 Revenue Change (Non-GAAP) 2 % GAAP net income in the second quarter declined 77 percent due to gains related to tax incentives recorded in the prior year. FMC second quarter adjusted EBITDA was $207 million, an increase of 2 percent from the prior-year period as favorable costs were partially offset by price and FX headwinds. Adjusted EPS grew 10 percent driven mainly by higher adjusted EBITDA and lower interest expense. On a GAAP basis, cash from operations was $66 million, a decline of $226 million versus 2024 due primarily to a smaller reduction in inventory levels than in the prior year. Free cash flow was $40 million, a decline of $241 million versus Q2 2024 primarily due to lower cash from operations. Intention to Divest India Commercial Business In response to challenges in India, the FMC Board of Directors has approved divesting the company's commercial business in the country. FMC plans to continue to actively participate in the India market through a supply agreement with the eventual buyer of the business for its patented and data-protected portfolio, ranging from new diamide technologies to active ingredients and biologicals. The company will continue its active ingredient manufacturing operations in India. The sale process is underway and is expected to conclude within the next year. Outlook2 The India commercial business will be classified as held for sale beginning in the third quarter. Revenue generated by the India commercial business will be included in reported revenue, while revenue guidance for the company will exclude India. Earnings of the India commercial business will be excluded from adjusted EBITDA and adjusted EPS. The company reaffirms its full-year 2025 adjusted EBITDA, adjusted EPS and free cash flow guidance ranges. Revenue excluding India is expected to be $4.08 billion to $4.28 billion, down 2 percent at the midpoint versus prior year reported revenue. Other than the exclusion of India revenue, there is no change to revenue guidance. Third quarter revenue excluding India is expected to be in the range of $1.00 billion to $1.10 billion, down 1 percent at the midpoint versus reported third quarter 2024. Volume growth and a minor FX tailwind are expected to be more than offset by a mid-single digit price headwind, in part driven by diamide partner contract adjustments and higher rebates as customers purchase higher volumes. The India exclusion is a negative 6 percent impact. Adjusted EBITDA is forecasted to be in the range of $210 million to $250 million, an increase of 14 percent at the midpoint versus the prior year as lower costs and volume growth more than offset headwinds from pricing and FX. Lower costs are driven by COGS tailwinds from improved fixed cost absorption, lower raw material costs and restructuring benefits. FMC expects adjusted earnings per diluted share to be in the range of $0.78 to $0.98 in the third quarter, which represents a 28 percent increase at the midpoint versus third quarter 2024 driven mainly by higher adjusted EBITDA. Fourth quarter revenue excluding India is expected to be in the range of $1.24 billion to $1.34 billion, an increase of 5 percent at the midpoint versus reported fourth quarter 2024. The company expects strong volume growth driven by sales of new products as well as contributions from the additional route to market recently put in place in Brazil. Pricing is expected to be a low-single digit headwind, while FX is forecasted to be a minor tailwind. The India exclusion is negative 6 percent. Adjusted EBITDA is forecasted to be in the range of $334 million to $374 million, an increase of 4 percent at the midpoint versus the prior year as favorable costs and higher volumes are partially offset by lower price. FMC expects adjusted earnings per diluted share to be in the range of $1.62 to $1.84 in the fourth quarter, which represents a 3 percent decrease at the midpoint versus fourth quarter 2024. The unfavorable variance is mainly driven by an exceptionally low tax rate in the prior year. Full-Year 2025 Outlook2 Second-Half Outlook2 (excludes India in Q3 and Q4) Third Quarter Outlook2 (excludes India) Fourth Quarter Outlook2 (excludes India) Revenue $4.08 billion to $4.28 billion $2.24 billion to $2.44 billion $1.00 billion to $1.10 billion $1.24 billion to $1.34 billion Growth at midpoint vs. 2024 (2) % 2 % (1) % 5 % Adjusted EBITDA $870 million to $950 million $544 million to $624 million $210 million to $250 million $334 million to $374 million Growth at midpoint vs. 2024 1 % 8 % 14 % 4 % Adjusted EPS^ $3.26 to $3.70 $2.40 to $2.82 $0.78 to $0.98 $1.62 to $1.84 Growth at midpoint vs. 2024 0 % 5 % 28 % (3) % ^ EPS estimates assume 125.6 million diluted shares for full year and 125.6 million diluted shares for Q3 and Q4. Note that percentages are calculated using whole numbers. Minor differences may exist due to rounding. India has been excluded from second half, third quarter and fourth quarter outlooks. Variances are calculated versus 2024 results which include India. Supplemental Information The company will post supplemental information on the web at including its webcast slides for tomorrow's earnings call, definitions of non-GAAP terms and reconciliations of non-GAAP figures to the nearest available GAAP term. Always read and follow all label directions, restrictions and precautions for use. Products listed here may not be registered for sale or use in all states, countries or jurisdictions. FMC, the FMC logo, Cyazypyr and Isoflex are trademarks of FMC Corporation or an affiliate. About FMC FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC's innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers and crop advisers to address their toughest challenges economically while protecting the environment. FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit to learn more and follow us on LinkedIn®. Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: FMC and its representatives may from time to time make written or oral statements that are 'forward-looking' and provide other than historical information, including statements contained in this press release, in FMC's other filings with the SEC, and in presentations, reports or letters to FMC stockholders. In some cases, FMC has identified these forward-looking statements by such words or phrases as 'outlook', 'will likely result,' 'is confident that,' 'expect,' 'expects,' 'should,' 'could,' 'may,' 'will continue to,' 'believe,' 'believes,' 'anticipates,' 'predicts,' 'forecasts,' 'estimates,' 'projects,' 'potential,' 'intends' or similar expressions identifying 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words or phrases. Such forward-looking statements are based on our current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These statements are qualified by reference to the risk factors included in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024 (the '2024 Form 10-K'), the section captioned 'Forward-Looking Information' in Part II of the 2024 Form 10-K and to similar risk factors and cautionary statements in all other reports and forms filed with the Securities and Exchange Commission ('SEC'). We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. We specifically decline to undertake any obligation, and specifically disclaim any duty, to publicly update or revise any forward-looking statements that have been made to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by law. This press release contains certain 'non-GAAP financial terms' which are defined on our website Such terms include adjusted EBITDA, adjusted earnings, free cash flow, organic revenue growth and revenue excluding India. In addition, we have also provided on our website reconciliations of non-GAAP terms to the most directly comparable GAAP terms. Organic revenue growth (non-GAAP) excludes the impact of foreign currency changes. Although we provide forecasts for adjusted earnings per share, adjusted EBITDA, and free cash flow (non-GAAP financial measures), we are not able to forecast the most directly comparable measures calculated and presented in accordance with GAAP. Certain elements of the composition of the GAAP amounts are not predictable, making it impractical for us to forecast. Such elements include, but are not limited to, restructuring, acquisition charges, our India held for sale business, and discontinued operations. As a result, no GAAP outlook is provided. Starting with the third quarter 2025 guidance, we provide forecasts for revenue excluding India (non-GAAP financial measure). We are not able to forecast the GAAP revenue due to potential actions we may take during the held for sale period to prepare the business for a potential buyer and other uncertainties, including customer reaction to the announcement of our intention to sell our India commercial business. For all outlooks provided, variances are calculated versus 2024 results which include India. In certain instances, parts included in the variance explanations in the discussion may not sum to the total variance for the financial statement line item due to rounding. FMC CORPORATION CONSOLIDATED STATEMENTS OF INCOME (LOSS) (Unaudited and in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenue $ 1,050.5 $ 1,038.4 $ 1,841.9 $ 1,956.4 Costs of sales and services 644.2 640.3 1,118.9 1,218.6 Gross margin $ 406.3 $ 398.1 $ 723.0 $ 737.8 Selling, general and administrative expenses 176.8 164.8 348.8 328.7 Research and development expenses 66.4 75.9 135.1 136.8 Restructuring and other charges (income) 36.7 95.1 54.5 136.0 Total costs and expenses $ 924.1 $ 976.1 $ 1,657.3 $ 1,820.1 Income from continuing operations before non-operating pension, postretirement, and other charges (income), interest expense, net and income taxes $ 126.4 $ 62.3 $ 184.6 $ 136.3 Non-operating pension, postretirement, and other charges (income) 6.6 4.2 9.8 8.5 Interest expense, net 61.0 63.6 111.1 125.3 Income (loss) from continuing operations before income taxes $ 58.8 $ (5.5) $ 63.7 $ 2.5 Provision (benefit) for income taxes 14.4 (303.5) 27.9 (304.9) Income (loss) from continuing operations $ 44.4 $ 298.0 $ 35.8 $ 307.4 Discontinued operations, net of income taxes 23.4 (2.8) 16.4 (15.3) Net income (loss) $ 67.8 $ 295.2 $ 52.2 $ 292.1 Less: Net income (loss) attributable to noncontrolling interests 1.1 0.1 1.0 (0.3) Net income (loss) attributable to FMC stockholders $ 66.7 $ 295.1 $ 51.2 $ 292.4 Amounts attributable to FMC stockholders: Income (loss) from continuing operations $ 43.3 $ 297.9 $ 34.8 $ 307.7 Discontinued operations, net of tax 23.4 (2.8) 16.4 (15.3) Net income (loss) $ 66.7 $ 295.1 $ 51.2 $ 292.4 Basic earnings (loss) per common share attributable to FMC stockholders: Continuing operations $ 0.34 $ 2.37 $ 0.28 $ 2.45 Discontinued operations 0.19 (0.02) 0.13 (0.12) Basic earnings per common share $ 0.53 $ 2.35 $ 0.41 $ 2.33 Average number of shares outstanding used in basic earnings per share computations 125.2 125.0 125.1 125.0 Diluted earnings (loss) per common share attributable to FMC stockholders: Continuing operations $ 0.34 $ 2.37 $ 0.28 $ 2.45 Discontinued operations 0.19 (0.02) 0.13 (0.12) Diluted earnings per common share $ 0.53 $ 2.35 $ 0.41 $ 2.33 Average number of shares outstanding used in diluted earnings per share computations 125.6 125.4 125.5 125.3 Other Data: Capital additions and other investing activities $ 9.8 $ 14.4 $ 47.2 $ 37.8 Depreciation and amortization expense 43.4 44.3 87.1 90.0 FMC CORPORATION RECONCILIATION OF NON-GAAP FINANCIAL MEASURES RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO FMC STOCKHOLDERS (GAAP) TO ADJUSTED AFTER-TAX EARNINGS FROM CONTINUING OPERATIONS, ATTRIBUTABLE TO FMC STOCKHOLDERS (NON-GAAP) (Unaudited and in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) attributable to FMC stockholders (GAAP) $ 66.7 $ 295.1 $ 51.2 $ 292.4 Corporate special charges (income): Restructuring and other charges (income) (a) 36.7 95.1 54.5 136.0 Non-operating pension, postretirement, and other charges (income) (b) 6.6 4.2 9.8 8.5 Income tax expense (benefit) on Corporate special charges (income) (c) (6.8) (13.8) (11.2) (23.4) Discontinued operations attributable to FMC stockholders, net of income taxes (d) (23.4) 2.8 (16.4) 15.3 Tax adjustment (e) 6.9 (304.3) 21.2 (304.3) Adjusted after-tax earnings from continuing operations attributable to FMC stockholders (Non-GAAP) (1) $ 86.7 $ 79.1 $ 109.1 $ 124.5 Diluted earnings per common share (GAAP) $ 0.53 $ 2.35 $ 0.41 $ 2.33 Corporate special charges (income) per diluted share, before tax: Restructuring and other charges (income) 0.29 0.76 0.43 1.09 Non-operating pension, postretirement, and other charges (income) 0.05 0.03 0.08 0.07 Income tax expense (benefit) on Corporate special charges (income), per diluted share (0.04) (0.11) (0.09) (0.19) Discontinued operations attributable to FMC stockholders, net of income taxes per diluted share (0.19) 0.02 (0.13) 0.12 Tax adjustments per diluted share 0.05 (2.42) 0.17 (2.43) Diluted adjusted after-tax earnings from continuing operations per share, attributable to FMC stockholders (Non-GAAP) $ 0.69 $ 0.63 $ 0.87 $ 0.99 Average number of shares outstanding used in diluted adjusted after-tax earnings from continuing operations per share computations 125.6 125.4 125.5 125.3 ____________________ (1) Referred to as Adjusted earnings. The Company believes that Adjusted earnings, a Non-GAAP financial measure, and its presentation on a per share basis provides useful information about the Company's operating results to management, investors, and securities analysts. Adjusted earnings excludes the effects of corporate special charges, tax-related adjustments and the results of our discontinued operations. The Company also believes that excluding the effects of these items from operating results allows management and investors to compare more easily the financial performance of its underlying business from period to period. (a) Three Months Ended June 30, 2025: Restructuring and other charges (income) includes restructuring charges of $13.0 million primarily related to the previously announced global restructuring plan, referred to as 'Project Focus.' Charges incurred related to Project Focus consist of $4.9 million of professional service provider costs and other miscellaneous charges, $5.4 million of severance and employee separation costs, and accelerated depreciation of $2.5 million on assets identified for disposal in connection with the restructuring initiative. Other charges (income) of $23.7 million is comprised of $7.4 million of charges associated with our environmental sites, a charge of $11.9 million due to changes in our estimate for Furadan disposal costs at our Middleport site, and $4.4 million of other miscellaneous charges. Three Months Ended June 30, 2024: Restructuring and other charges (income) includes restructuring charges of $83.8 million primarily related to Project Focus. Charges incurred related to Project Focus consist of $53.3 million of non-cash asset write-off charges resulting from the contract termination with one of our third-party manufacturers, $18.6 million of severance and employee separation costs, including costs associated with the CEO transition, $6.5 million of professional service provider costs and other miscellaneous charges, and accelerated depreciation of $5.9 million on assets identified for disposal in connection with the restructuring initiative. Other charges (income) of $11.3 million is comprised of $5.7 million of charges associated with our environmental sites and $5.6 million of other miscellaneous charges. Six Months Ended June 30, 2025: Restructuring and other charges (income) includes restructuring charges of $26.6 million primarily related to the previously announced global restructuring plan, referred to as 'Project Focus.' Charges incurred related to Project Focus consist of $11.5 million of professional service provider costs and other miscellaneous charges, $9.6 million of severance and employee separation costs, and accelerated depreciation of $5.6 million on assets identified for disposal in connection with the restructuring initiative. Other charges (income) of $27.9 million is comprised of $10.9 million of charges associated with our environmental sites, a charge of $11.9 million due to changes in our estimate for Furadan disposal costs at our Middleport site, and $5.1 million of other miscellaneous charges. Six Months Ended June 30, 2024: Restructuring and other charges (income) includes restructuring charges of $117.5 million primarily related Project Focus. Charges incurred in connection with Project Focus consist of $53.3 million of non-cash asset write off charges resulting from the contract termination with one of our third-party manufacturers, $37.5 million of severance and employee separation costs, including costs associated with the CEO transition, $18.7 million of professional service provider costs and other miscellaneous charges, and accelerated depreciation of $8.2 million on assets identified for disposal in connection with the restructuring initiative. Other charges (income) of $18.5 million is comprised of $9.0 million of charges associated with our environmental sites and $9.5 million of other miscellaneous charges. (b) Our non-operating pension, postretirement and other charges (income) includes those costs (benefits) related to interest, expected return on plan assets, amortized actuarial gains and losses and the impacts of any plan curtailments or settlements. These are excluded from our Adjusted Earnings and are primarily related to changes in pension plan assets and liabilities which are tied to financial market performance and we consider these costs to be outside our operational performance. We continue to include the service cost and amortization of prior service cost in our Adjusted Earnings results noted above. These elements reflect the current year operating costs to our businesses for the employment benefits provided to active employees. The three and six months ended June 30, 2025 also includes other charges of $3.3 million incurred as a make-whole premium in connection with the early redemption of $500 million of the Senior Notes due May 18, 2026. (c) The income tax expense (benefit) on Corporate special charges (income) is determined using the applicable rates in the taxing jurisdictions in which the corporate special charge or income occurred and includes both current and deferred income tax expense (benefit) based on the nature of the non-GAAP performance measure. (d) Discontinued operations includes provisions, net of recoveries, for environmental liabilities and legal reserves and expenses related to previously discontinued operations and retained liabilities. We recorded a $34.5 million reduction in our legal reserve in discontinued operations for the three and six months ended June 30, 2025 as a result of a decrease in outstanding cases. (e) We exclude the GAAP tax provision, including discrete items, from the Non-GAAP measure of income, and include a Non-GAAP tax provision based upon the projected annual Non-GAAP effective tax rate. The GAAP tax provision includes certain discrete tax items including, but are not limited to: income tax expenses or benefits that are not related to continuing operating results in the current year; tax adjustments associated with fluctuations in foreign currency remeasurement of certain foreign operations; certain changes in estimates of tax matters related to prior fiscal years; certain changes in the realizability of deferred tax assets and related interim accounting impacts; and changes in tax law. In 2024 and 2023, we recorded significant deferred tax assets due to various tax incentives granted to the Company's Swiss subsidiaries (the 'Swiss Tax Incentives'). The initial recognition of these Swiss Tax Incentives did not impact our adjusted non-GAAP effective tax rate but will be considered annually as we realize the benefits. Management believes excluding these discrete tax items, as well as the impacts of the Swiss Tax Incentives annually as the related benefits are realized, assists investors and securities analysts in understanding the tax provision and the effective tax rate related to continuing operating results thereby providing investors with useful supplemental information about FMC's operational performance. Three Months Ended June 30, Six Months Ended June 30, (in Millions) 2025 2024 2025 2024 Tax adjustments: Revisions to valuation allowances of historical deferred tax assets $ — $ — $ (1.2) $ (1.6) Net impact of Switzerland tax incentives 10.5 (300.0) 13.3 (300.0) Foreign currency remeasurement and other discrete items (3.6) (4.3) 9.1 (2.7) Total Non-GAAP tax adjustments $ 6.9 $ (304.3) $ 21.2 $ (304.3) RECONCILIATION OF NET INCOME (LOSS) (GAAP) TO ADJUSTED EARNINGS FROM CONTINUING OPERATIONS, BEFORE INTEREST, INCOME TAXES, DEPRECIATION AND AMORTIZATION, AND NONCONTROLLING INTERESTS (NON-GAAP) (Unaudited, in millions) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) (GAAP) $ 67.8 $ 295.2 $ 52.2 $ 292.1 Restructuring and other charges (income) 36.7 95.1 54.5 136.0 Non-operating pension, postretirement, and other charges (income) 6.6 4.2 9.8 8.5 Discontinued operations, net of income taxes (23.4) 2.8 (16.4) 15.3 Interest expense, net 61.0 63.6 111.1 125.3 Depreciation and amortization 43.4 44.3 87.1 90.0 Provision (benefit) for income taxes 14.4 (303.5) 27.9 (304.9) Adjusted earnings from continuing operations, before interest, income taxes, depreciation and amortization, and noncontrolling interests (Non-GAAP) (1) $ 206.5 $ 201.7 $ 326.2 $ 362.3 ___________________ (1) Referred to as Adjusted EBITDA. Defined as operating profit excluding restructuring and other charges (income) and depreciation and amortization expense. RECONCILIATION OF CASH PROVIDED (REQUIRED) BY OPERATING ACTIVITIES OF CONTINUING OPERATIONS (GAAP) TO FREE CASH FLOW (NON-GAAP) (Unaudited, in millions) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Cash provided (required) by operating activities of continuing operations (GAAP) (1) $ 65.9 $ 292.2 $ (479.1) $ 149.3 Capital expenditures (15.0) (9.9) (46.6) (30.6) Other investing activities 5.2 (4.5) (0.6) (7.2) Capital additions and other investing activities $ (9.8) $ (14.4) $ (47.2) $ (37.8) Cash provided (required) by operating activities of discontinued operations (16.4) 2.6 (29.7) (18.9) Free cash flow (Non-GAAP) (2) $ 39.7 $ 280.4 $ (556.0) $ 92.6 ___________________ (1) Includes cash payments made in connection with our Project Focus transformation program of $14.9 million and $23.6 million for the three months ended June 30, 2025 and 2024, respectively, and $70.6 million and $63.5 million for the six months ended June 30, 2025 and 2024, respectively. (2) Free cash flow is defined as cash provided (required) by operating activities of continuing operations (GAAP) adjusted for spending for capital additions and other investing activities as well as cash provided (required) by discontinued operations and divestiture transaction costs associated with the sale of our GSS business. We believe that this Non-GAAP financial measure provides a useful basis for investors and securities analysts to evaluate the cash generated by routine business operations, including to assess our our ability to repay debt, fund acquisitions and return capital to shareholders through share repurchases and dividends. Our use of free cash flow has limitations as an analytical tool and should not be considered in isolation or as a substitute for an analysis of our results under U.S. GAAP. RECONCILIATION OF REVENUE CHANGE (GAAP) TO ORGANIC REVENUE CHANGE (NON-GAAP) (1) (Unaudited) Three Months Ended June 30, 2025 vs. 2024 Six Months Ended June 30, 2025 vs. 2024 Total Revenue Change (GAAP) 1 % (6) % Less: Foreign Currency Impact (1) % (2) % Organic Revenue Change (Non-GAAP) 2 % (4) % ___________________ (1) We believe organic revenue growth (non-GAAP) provides management and investors with useful supplemental information regarding our ongoing revenue performance and trends by presenting revenue growth excluding the impact of fluctuations in foreign exchange rates. RECONCILIATION OF NET INCOME (LOSS) ATTRIBUTABLE TO FMC STOCKHOLDERS (GAAP) TO RETURN ON INVESTED CAPITAL ('ROIC') NUMERATOR (NON-GAAP) AND ADJUSTED ROIC (USING NON-GAAP NUMERATOR)(1) (Unaudited) Twelve Months Ended June 30, 2025 Net income (loss) attributable to FMC stockholders (GAAP) $ 99.9 Interest expense, net, net of income taxes 195.2 Corporate special charges (income) 157.8 Income tax expense (benefit) on Corporate special charges (income) (24.9) Discontinued operations attributable to FMC stockholders, net of income taxes 30.1 Tax adjustments 158.0 ROIC numerator (Non-GAAP) $ 616.1 June 30, 2025 June 30, 2024 Total debt $ 4,163.3 $ 4,179.1 Total FMC stockholders' equity 4,397.0 4,559.4 Total debt and FMC stockholders' equity (GAAP) $ 8,560.3 $ 8,738.5 ROIC denominator (2 yr average total debt and FMC stockholders' equity) $ 8,649.4 ROIC (using Net income (loss) attributable to FMC stockholders (GAAP) as numerator) 1.15 % Adjusted ROIC (using Non-GAAP numerator) 7.12 % ___________________ (1) We believe Adjusted ROIC (non-GAAP) provides management and investors with useful supplemental information regarding our utilization of capital provided by both equity and debt as well as our working capital and free cash flow management. Additionally, vesting of certain restricted stock awards granted to officers is connected to Adjusted ROIC as a performance metric. FMC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in millions) June 30, 2025 December 31, 2024 Cash and cash equivalents $ 438.2 $ 357.3 Trade receivables, net of allowance of $42.8 in 2025 and $39.4 in 2024 3,076.3 2,903.2 Inventories 1,395.7 1,201.6 Prepaid and other current assets 557.1 496.2 Total current assets $ 5,467.3 $ 4,958.3 Property, plant and equipment, net 890.7 849.7 Goodwill 1,527.0 1,507.0 Other intangibles, net 2,401.4 2,360.7 Deferred income taxes 1,549.5 1,523.8 Other long-term assets 461.2 453.8 Total assets $ 12,297.1 $ 11,653.3 Short-term debt and current portion of long-term debt $ 893.3 $ 337.4 Accounts payable, trade and other 906.0 768.5 Advanced payments from customers — 453.8 Accrued and other liabilities 819.8 755.2 Accrued customer rebates 812.0 489.9 Guarantees of vendor financing 61.5 85.5 Accrued pensions and other postretirement benefits, current 3.0 6.4 Income taxes 77.5 122.5 Total current liabilities $ 3,573.1 $ 3,019.2 Long-term debt, less current portion $ 3,270.0 $ 3,027.9 Long-term liabilities 1,025.9 1,097.4 Equity 4,428.1 4,508.8 Total liabilities and equity $ 12,297.1 $ 11,653.3 FMC CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in millions) Six Months Ended June 30, 2025 2024 Cash provided (required) by operating activities of continuing operations $ (479.1) $ 149.3 Cash provided (required) by operating activities of discontinued operations (29.7) (18.9) Cash provided (required) by investing activities of continuing operations (51.4) (39.6) Cash provided (required) by financing activities of continuing operations 628.7 84.7 Effect of exchange rate changes on cash 12.4 (6.4) Increase (decrease) in cash and cash equivalents $ 80.9 $ 169.1 Cash and cash equivalents, beginning of period $ 357.3 $ 302.4 Cash and cash equivalents, end of period $ 438.2 $ 471.5
Barnama
2 days ago
- Barnama
Kioxia Sampling UFS Ver. 4.1 Embedded Flash Memory Devices For Automotive Applications
TOKYO, July 31 (Bernama) -- Kioxia Corporation, a world leader in memory solutions, today announced that it has begun sampling(¹) new Universal Flash Storage(²) (UFS) Ver. 4.1 embedded memory devices designed for automotive applications. Engineered to meet the rigorous demands of next-generation in-vehicle systems, these new devices deliver significant performance, flexibility, and diagnostic enhancements - powered by Kioxia's generation 8 BiCS FLASH™ 3D flash memory and in-house designed controller technology. Available in capacities of 128 gigabytes (GB), 256GB, 512GB and 1 terabyte (TB), the new UFS 4.1 devices are designed to fit the needs of infotainment, ADAS (Advanced Driving Assistant System), telematics, domain controllers, and vehicle computers. They meet AEC-Q100/104(³) Grade 2 standards, supporting case temperature up to 115°C.
