Green Mountain Coffee Roasters, Inc. Reports Very Strong Growth for Fiscal 2008 Fourth Quarter and Full Year – Robust Earnings Driven by Success of Keurig(r) Brewers and K-Cup Demand- Fourth Quarter EPS up 96% over Prior Year- 2008 Fiscal Year EPS up 68%WATERBURY, Vt.–(BUSINESS WIRE)November 12, 2008 –Green Mountain Coffee Roasters, Inc., (NASDAQ: GMCR) has announced its fiscal 2008 and fiscal fourth quarter results for the thirteen weeks ended September 27, 2008, reporting strong sales and even stronger earnings growth. During the fourth quarter of fiscal 2008, 273 million K-Cup portion packs were shipped system-wide by all Keurig licensed roasters, up 62% over the year-ago quarter.Net sales for the fourth quarter of fiscal 2008 totaled $134.8 million as compared to $93.0 million reported in the fourth quarter of fiscal 2007, representing an increase of 45% year over year.Net income for the fiscal fourth quarter of 2008 increased 99% to $7.1 million or $0.28 per diluted share, from $3.6 million or $0.14 per diluted share in the fiscal fourth quarter of 2007.For the fifty-two weeks ended September 27, 2008, the Company recorded net sales of $500.3 million, up 46% from $341.7 million for the year ended September 29, 2007. Net income for fiscal 2008 increased 74% to $22.3 million, or $0.87 per diluted share, as compared to net income of $12.8 million, or $0.52 per diluted share for the prior year.Excluding the impact of the non-cash amortization expense related to the Keurig intangibles of approximately $4.8 million (pre-tax) or $0.11 per diluted share in both fiscal 2008 and 2007, non-GAAP net income totaled $25.2 million in fiscal 2008 compared to non-GAAP net income of $15.7 million for the comparable year-ago period.Lawrence J. Blanford, President and CEO, said, “I am thrilled with our employees’ ability to execute and innovate, building for the future and delivering the strong financial results we are reporting today. Some people feel that coffee is a basic need in all economic times, yet still in today’s business environment, I am proud of the strong top and bottom line growth we have delivered to our stockholders. With our proprietary Keurig Single-Cup Brewing system, we are truly turning opportunity into success, driving sales growth and profitability. Looking forward, our great coffee, our long history of success in focusing on innovation, our passion for socially responsible initiatives, and the opportunities presented by single-cup brewing create very exciting prospects for our Company in terms of brand expansion, continued growth, and helping make the world a better place.”Fiscal 2008 Fourth Quarter Financial ReviewNet Sales* For the Green Mountain Coffee segment, net sales for the fourth quarter of fiscal 2008 were up 38% to $84.5 million, prior to the elimination of inter-company sales, as compared to $61.2 million reported in the fourth quarter of fiscal 2007. Dollar sales growth was strongest in the channels that benefit from sales of the Keurig K-Cup portion packs including reseller, office coffee service (OCS), consumer direct and supermarket channels. Coffee, tea and hot cocoa pounds shipped increased 12% this quarter over the prior period. As previously announced, the Company increased prices in May 2008 by 8 to 12 percent on average across business channels and package types for coffee products sold by its Green Mountain Coffee division because of rising green coffee costs and increases in prices of other raw materials, and higher energy and transportation costs. The net impact of the price increase in the fourth quarter of fiscal 2008 was an increase in net sales of approximately 10% over the prior year period.* For the Keurig segment, net sales (prior to the elimination of inter-company sales) included in the Company’s fourth quarter of fiscal 2008 were $74.6 million, up 75% from net sales of $42.6 million in the fourth fiscal quarter of 2007. This increase in sales was primarily due to higher K-Cup and brewer sales and royalty income from the sales of K-Cups. Keurig announced a royalty rate increase of a penny on all system-wide K-Cup portion packs that went into effect on August 1st. This increase contributed to an approximate 4% increase in Keurig segment’s fourth quarter net sales over the prior year. Further detail on shipments of Keurig brewers and K-Cup portion packs is provided in the chart accompanying this press release.* As part of the consolidation, $11.4 million of inter-company Keurig segment sales and $12.8 million of inter-company Green Mountain Coffee segment sales were eliminated in the fourth quarter of fiscal 2008.Costs, Margins and Income* Consolidated cost of sales increased a little less than 100 basis points to 65.6% of total net sales compared to 64.7% for the corresponding quarter last year. The increase over last year primarily is due to the significant increase in sales of Keurig At Home Single-Cup Brewers where these brewers are sold at approximately cost (no gross margin) as part of the Company’s strategy to increase the installed base of Keurig brewers. In addition, higher green coffee and other commodity costs contributed to the increase in cost of sales as compared to the year ago fourth quarter. Partially offsetting the increase in cost of sales was the $0.01 increase in the K-Cup royalty rate paid by all Keurig licensed roasters effective August 1, 2008.* More than offsetting the decline in gross margin, selling, general and administrative (S,G& A) expenses improved as a percentage of net sales by 250 basis points to 24.8% from 27.3% in the prior year quarter. This improvement was the result of leveraging selling and organizational resources on a higher sales base. Additionally, included in this quarter’s S,G& A are approximately $1,000,000 in litigation expenses related to the patent infringement suit filed against Kraft which was recently settled, as detailed below.* The Company’s operating income was $13.0 million in the fourth quarter of fiscal 2008, as compared to $7.5 million reported in the prior year period, and improved as a percentage of net sales to 9.6% from 8.0%.* Interest expense was $1.3 million in the fourth fiscal quarter of 2008 and 2007.* Income before taxes for the fourth quarter of fiscal 2008 increased 92% to $11.7 million as compared to $6.1 million reported in the fourth quarter of fiscal 2007.* The Company’s tax rate was 39.2% as compared to 41.3% in the prior year quarter. The difference primarily was due to foreign tax credits associated with royalties earned on K-Cup portion packs from the Canadian licensed roasters for fiscal 2008.* Net income for the fourth quarter of fiscal 2008 was $7.1 million or 5.3% of net sales as compared to $3.6 million or 3.8% of net sales in the corresponding quarter last year.Balance Sheet Highlights* Inventories increased as planned by 119% to $85.3 million at September 27, 2008 from $38.9 million at September 29, 2007 in order to meet expected strong holiday sales of At Home Single-Cup Keurig brewers and K-Cups. The Company anticipates selling more than double the amount of At Home Single-Cup Keurig brewers and K-Cups during this holiday season in retail stores. In addition, the product line of At Home brewers has expanded to include the new “Keurig Mini” and other models contributing to the build in inventories.* Long-term debt increased to $123.5 million at 9/27/08 from $90 million at 9/29/07 primarily to fund capital expenditures of $48 million in fiscal 2008. Annual cash from operations funded the Company’s working capital needs in fiscal 2008.Subsequent EventAs previously announced on October 23, 2008, the Company’s Keurig subsidiary entered into a Settlement and License Agreement to settle its patent litigation with Kraft Foods Inc., Kraft Foods Global, Inc., and Tassimo Corporation (collectively “Kraft”). Pursuant to the terms of the Settlement and License Agreement, Kraft paid to Keurig, after the fourth quarter ended, a lump sum of $17,000,000 and Keurig granted to Kraft and its affiliates a limited, non-exclusive, perpetual, worldwide, fully paid up license of Keurig’s United States Patents Numbered 6,607,762 (the “762 Patent”) and 7,377,162 (the “162 Patent”), and United States and foreign counterpart patents connected to the 762 Patent or 162 Patent, for use in connection with the manufacture, distribution and sale of beverage brewing machines and certain beverage filter cartridges. This settlement will be recorded in the Company’s first quarter of fiscal 2009 as a non-recurring item in operating income of $17 million and will be taxed at the annual effective tax rate. Upon receipt of this lump sum payment at the end of October, the Company used the majority of these funds to pay down debt outstanding under its existing credit facility.Business Outlook and Other Forward-Looking InformationCompany Estimates for Fiscal Year 2009:* Total consolidated net sales growth of 40% to 45%.* Total K-Cup portion packs shipped system-wide by all Keurig licensed roasters to increase in the range of 50% to 60%.* An operating margin in the range of 8.5% to 9.3%, including $4.8 million or $0.11 per diluted share for non-cash amortization expenses related to the identifiable intangibles, and excluding the pre-tax $17 million Kraft patent litigation settlement.* Interest expense of $7.5 million to $8.5 million excluding any additional interest expense associated with financing the Tully’s acquisition.* A tax rate of 41.0% as compared to 38.9% in fiscal 2008.* Fully diluted GAAP earnings per share in the range of $1.58 to $1.68 per share, including the pre-tax $17 million or $0.38 per diluted share Kraft patent litigation settlement, and including the non-cash amortization expenses related to the identifiable intangibles mentioned above of $4.8 million or approximately $0.11 per share. Excluding the Kraft litigation settlement, fully diluted non-GAAP EPS in the range of $1.20 to $1.30 per share.* As previously announced on September 15, 2008, the Company executed an Asset Purchase Agreement to acquire the Tully’s coffee brand and wholesale business from Tully’s Coffee Corporation for a cash purchase price of $40.3 million, subject to adjustment at closing. The Company intends to finance the purchase through its existing $225 million senior revolving credit facility and has received consent from the lenders under its existing revolving credit agreement. This transaction is subject to customary closing conditions, including approval by Tully’s shareholders, and is expected to close in the next few months. The Company anticipates the acquisition will be neutral to modestly accretive to its earnings per share for the first twelve months of ownership following the closing of the transaction, and accretive thereafter.Company Estimates Relating to Balance Sheet and Cash Flow:* Capital expenditures for fiscal 2009 in the range of $50 to $57 million.* Depreciation and amortization expenses in the range of $22 to $24 million including $4.8 million for amortization of identifiable intangibles.Company Estimates for First Quarter Fiscal Year 2009:* Total consolidated net sales growth of 45% to 55%.* An operating margin in the range of 3.7% to 4.4% including non-cash amortization expenses for identifiable intangibles of approximately $1.2 million or $0.03 per share, and excluding the pre-tax $17 million patent litigation settlement. The Company anticipates selling and marketing expenses as a percentage of net sales during the first quarter of fiscal 2009 to be about the same as a year ago. Operating margins are expected to be less than a year ago due to the planned increase in net sales of At Home Single-Serve Keurig brewers with no contribution to gross margins.* Fully diluted GAAP earnings per share in the range of $0.48 to $0.52 per share, including the non-cash amortization expenses related to the identifiable intangibles that are estimated to reduce EPS by approximately $0.03 per share, and including the pre-tax $17 million or $0.38 per diluted share patent litigation settlement. Excluding the Kraft litigation settlement, fully diluted non-GAAP EPS in the range of $0.10 to $0.14 per share.Use of Non-GAAP Financial MeasuresIn addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), the Company provides non-GAAP operating results that exclude certain charges or credits and information regarding non-cash related items such as amortization of identifiable intangibles related to the Keurig acquisition completed on June 15, 2006 and also excludes one time operating income related to the Company’s Kraft litigation. These amounts are not in accordance with, or an alternative to, GAAP. The Company’s management believes that these measures provide investors with greater transparency by helping illustrate the underlying financial and business trends relating to the Company’s results of operations and financial condition and comparability between current and prior periods. Management uses the measures to establish and monitor budgets and operational goals and to evaluate the performance of the Company.Green Mountain Coffee Roasters, Inc. will be discussing these financial results and future prospects with analysts and investors in a conference call available via the internet. The call will take place today at 5:00 PM ET and will be available, with accompanying slides, via live webcast on the Company’s website at www.GreenMountainCoffee.com(link is external) and other major portals. The Company archives the latest conference call on the Investor Services section of its website for a period of time. A replay of the conference call also will be available by telephone at 719-457-0820, confirmation code 2846968 from 9:00 PM ET on November 12th through 9:00 PM ET on Sunday, November 16th, 2008.GMCR routinely posts information that may be of importance to investors in the Investor Services section of its website, including its complete financial statements, as filed with the SEC. The Company encourages investors to consult this section of its website regularly for important information and news. Additionally, by subscribing to the Company’s investor alerts, individuals can receive news directly from GMCR, via e-mail, as it is released.About Green Mountain Coffee Roasters, Inc.Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is recognized as a leader in the specialty coffee industry for its award-winning coffees, innovative brewing technology and socially and environmentally responsible business practices. GMCR manages its operations through two wholly owned business segments: Green Mountain Coffee and Keurig. Its Green Mountain Coffee division sells more than 100 high-quality coffee selections, including Fair Trade Certified(tm) organic coffees, under the Green Mountain Coffee(r) and Newman’s Own(r) Organics brands through its wholesale, direct mail and e-commerce operations (www.GreenMountainCoffee.com(link is external)). Green Mountain Coffee also produces its coffee as well as hot cocoa and tea in K-Cup(r) portion packs for Keurig(r) Single-Cup Brewers. Keurig, Incorporated is a pioneer and leading manufacturer of gourmet single-cup coffee brewing systems for offices, homes and hotel rooms. Keurig markets its patented brewers and K-Cup(r) portion packs through office distributors, retail and direct channels (www.Keurig.com(link is external)). K-Cup(r) portion packs are produced by a variety of licensed roasters including Green Mountain Coffee. Green Mountain Coffee Roasters, Inc. has been recognized repeatedly by CRO Magazine, Forbes and SustainableBusiness.com as a good corporate citizen and an innovative, high-growth company.Forward-Looking StatementsCertain statements contained herein are not based on historical fact and are “forward-looking statements” within the meaning of the applicable securities laws and regulations. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact on sales and profitability of consumer sentiment in this difficult economic environment, the Company’s success in efficiently expanding operations and capacity to meet growth, the Company’s success in receiving required approvals for the acquisition of Tully’s wholesale business and then in efficiently and effectively integrating Tully’s wholesale operations and capacity into its Green Mountain Coffee segment, competition and other business conditions in the coffee industry and food industry in general, fluctuations in availability and cost of high-quality green coffee, any other increases in costs including fuel, the unknown impact of management changes, Keurig’s ability to continue to grow and build profits with its roaster partners in the office and at home markets, the impact of the loss of one or more major customers for Green Mountain Coffee or reduction in the volume of purchases by one or more major customers, delays in the timing of adding new locations with existing customers, Green Mountain Coffee’s level of success in continuing to attract new customers, sales mix variances, weather and special or unusual events, as well as other risks described more fully in the Company’s filings with the SEC.Forward-looking statements reflect management’s analysis as of the date of this press release. The Company does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.
Taylor VorthermsSports Editor at The Ellsworth AmericanTaylor Vortherms covers sports in Hancock County. The St. Louis, Missouri native recently graduated from the Missouri School of Journalism and joined The Ellsworth American in 2013. Part 1: Invisible, incapacitating concussions are sidelining high school athletes – July 19, 2016 Latest Posts EHS names new boys’ soccer coach – July 13, 2016 Part 1 of 2 PartsELLSWORTH — On Nov. 1, 2015, Dagan Berenyi woke up in his bed, dressed in his Ellsworth High School soccer uniform. The 17-year-old ran his hands through his hair and felt the buzzed outline of a Mohawk — a playoff tradition for his team.But Berenyi didn’t remember the haircut. He didn’t remember the game.His questions kept coming. Why was his 23-year-old sister, who no longer lived at home, sleeping next to him? What had shattered his cell phone’s screen? Was it even still October?This is placeholder textThis is placeholder text“I was freaked out,” says Berenyi, now 18. “It was scary because you remember everything now in context of what happened last.”Berenyi would later learn that his family had been taking shifts watching him throughout the night, and that he had broken his phone three days earlier. He would learn that his soccer team beat Waterville High School the day before to advance to the Northern Maine championship.He couldn’t remember any of it because he had suffered a concussion in that game.In the wake of recent controversy surrounding concussions in the National Football League, concern about sports-related brain trauma is on the rise. The American Academy of Pediatrics estimates that more than a million children and teenagers in the United States suffer concussions every year. While Hancock County schools and coaches are taking steps to improve sports safety, athletes are still struggling to cope with an injury that can be debilitating while not evident to the rest of the world.Dagan Berenyi, 18, suffered a concussion in a soccer game on Oct. 31, 2015, that took him out of sports for the rest of his senior year at Ellsworth High School. PHOTO BY JF BURNS“It’s definitely up and down as far as getting better, but also emotions-wise,” Berenyi says. “You’re not trying to be sappy or anything, but I’ve definitely felt ways that I’ve never felt before.”Berenyi’s concussion left him without a week’s worth of memories — some of which have since returned, if in vague form. On May 10 — seven and a half months after his concussion — he has pieced together most of what happened in the days leading up to the Class B regional final. But he can remember only flashes of the Saturday his concussion occurred, such as eating breakfast with the team at Denny’s and jogging onto the field to music.With 10 minutes left in the game, Berenyi and Waterville’s goalie collided in the air while charging for the ball. They both crashed to the ground. Berenyi didn’t get up.A study published in the June 20 edition of the journal Pediatrics estimates that between 1.1 and 1.9 million children ages 18 and younger suffer sports-related concussions annually in the United States. But without a national system for tracking all concussions, there is no precise scope of the problem.Dr. Bruce Hamilton-Dick, an orthopedic surgeon at Maine Coast Memorial Hospital in Ellsworth, says concussions occur when the brain, which floats in a fluid medium, rapidly decelerates and smacks against the inside of the skull. The impact causes the “stretching of neurons.” While the neurons’ metabolic needs increase, the blood flow to the brain decreases in reaction to the damage.“So now you have this paradox,” Hamilton-Dick says. “The brain cells are in need of extra energy at a time when they can’t get it because the blood supply to the brain goes down.”The cells — which can control functions such as memory, vision, speech or mood — become impaired or nonfunctioning.Berenyi can relay what happened after the collision only secondhand. He was told he got “really angry” on the sidelines. He couldn’t remember he was at a soccer game or that he scored two goals.On the way to the hospital, Berenyi asked what day it was “probably a hundred times.” Passengers repeated that it was Oct. 31, to which Berenyi would reply after a long pause, “Oh, it’s Halloween?”“Have you seen ‘50 First Dates?’” Berenyi asks, referring to the romantic comedy starring Drew Barrymore as a victim of short-term memory loss. “I was Ten Second Tom.”Berenyi laughs. You wouldn’t know from his upbeat demeanor that the concussion took the star athlete out of sports for the rest of his senior year. A 2015 state champion in the 145-pound weight class, Berenyi missed wrestling season, complicating his goal to compete in college in the fall.Dr. Bruce Hamilton-Dick, an orthopedic surgeon at Maine Coast Memorial Hospital, talks about concussions. PHOTO BY STEVE FULLER“Honestly, I’m pretty good at talking about it right now, but it hasn’t always been like this,” Berenyi says. “It takes away everything you’re good at because you can’t really do anything. You question, what do I do, what am I, who am I?”Beckett Slayton, a senior at George Stevens Academy in Blue Hill, can relate. A starting forward for the basketball team this past winter, Slayton scored 14 points to help George Stevens win its first Class C state championship in more than a decade. It was Slayton’s first season on the squad after he suffered a concussion two months into high school that sidelined him for the next year and a half.“That was incredibly difficult for me because that’s kind of who I was going into school,” Slayton says. “I was really looking forward to sports.”As Hamilton-Dick says is typical with long-term head injuries, Slayton’s story doesn’t revolve around one major blow. Slayton suffered his first concussion in seventh grade in a basketball game when he slid into a cement wall trying to keep the ball inbounds. He returned to playing sports two months later, but continued to feel that familiar “jarring” sensation. Anything from taking a hit in football to pump faking a shot in basketball could trigger it.Slayton entered high school in 2013 and made the soccer team that fall. He can’t pin his concussion on one incident, but thinks the repetitive head balls may have exacerbated an existing problem.Hamilton-Dick says there is an association between the number of concussions suffered and how long they last. Studies have shown those who have had more than five concussions recover at a much slower rate, also known as post-concussion syndrome.“There are a number of people who have been knocked unconscious in a really horrific injury and, a week later, they’re totally asymptomatic,” Hamilton-Dick says. “Then, there are people who just kind of get bumped, and they go into this death spiral.“It’s not about the violence of the hit.”One head ball does stick out in Slayton’s mind. During a tournament, Slayton says he misjudged a ball and caught it on the side of his face, triggering “this weird deja vu.” He estimates the sensation lasted about 45 seconds before he regained awareness. He played four more games that day.Oct. 26, 2013, is the day Slayton calls “the beginning of the end.” At the team’s next practice, a defender tried to clear the ball, and he cleared it into Slayton’s head.“That’s the genesis for not sending somebody back into a game who has had a bell-ringer,” Hamilton-Dick says. “We now know that you cannot diagnose a concussion based on its initial presentation. You diagnose a concussion’s severity based on the longevity of symptoms.”Dr. Sheena Whittaker, an MCMH pediatrician who works with athletes suffering from concussions, says the way schools deal with head injuries has “changed drastically in the last five years.”“At first, we didn’t pay any attention to concussions,” Whittaker says. “Everybody went right back out to play, so their brain injuries worsened.”In 2012, a Maine state law required that all school boards develop concussion management policies by mid-2014. The law mandated training for coaches, athletic administrators and other school personnel in the identification and management of concussions. It also prohibited concussed students from returning to the sport or classroom until cleared by a healthcare professional.Sports are also evolving — even the one most commonly associated with concussions.Ellsworth football coach Duane Crawford says tackling in football has “changed tremendously” since the 1970s, when he played for Mount Desert Island High School. Players were taught to put their helmet on their opponent’s jersey numbers and drive through the ball.Ellsworth football coach Duane Crawford teaches his players rugby-style tackling at a practice on June 28. The technique is meant to protect the players’ heads and reduce the risk of concussions. PHOTO BY TAYLOR VORTHERMSCrawford can think of one teammate who may have suffered a concussion, though no one knew to call it that at the time.“I’m thinking, ‘Why didn’t we get concussions back then?’” Crawford says. “Maybe some of us did, and we didn’t know it. Now, we take the head out of everything that we possibly can.”Crawford is taking that a step further than the Heads Up program — a national initiative rolled out in 2013 by the Indianapolis-based nonprofit, USA Football, to teach players to keep their heads and eyes up when tackling. This summer, Crawford is teaching his squad rugby-style tackling, which removes the head from the equation.On June 28, Crawford’s players lined up facing each other for tackling drills. They were not wearing helmets — a tactic Crawford hopes will discourage reckless hits.“Helmets don’t stop concussions,” Hamilton-Dick says. “All helmets do is diffuse the force so you don’t crack your head open.”At the coach’s signal, players took turns tackling each other in slow motion. They led with their shoulder, wrapped up at the thighs and spun to the ground with their teammate. Crawford adopted the idea from the Seattle Seahawks, whose coach Pete Carroll released an instructional video on YouTube to promote the techniques.“As coaches, we understand that we need to do a really good job of protecting our players,” Crawford says. “There are definitely parents out there who don’t want their kids to play football. They’re afraid they’re going to get hurt.”Hamilton-Dick says CTE, or chronic traumatic encephalopathy, is the question on everybody’s mind.Hamilton-Dick links the 2015 movie “Concussion” to some of the recent “hysteria” surrounding CTE. The film, based on a true story, stars Will Smith as Dr. Bennet Omalu — a Nigerian forensic pathologist who discovered CTE while conducting autopsies on professional football players in the early 2000s.Hamilton-Dick says CTE — a progressive degenerative disease — and concussions are “two distinctly different things.”“Divorce the issues of CTE and concussions,” Hamilton-Dick says. “CTE is an endpoint. You don’t have one concussion and have CTE.”But no one can say exactly when CTE does occur. Hamilton-Dick says that, because the subjects of these autopsies have been almost exclusively professional athletes, the prevalence of CTE in the general population remains unknown.“Football, soccer and hockey were all part of these people’s lives growing up,” Hamilton-Dick says. “So it becomes even harder to quantify.”Beckett Slayton never lost consciousness or forgot where he was, as Dagan Berenyi did. But more than two years later, Slayton still suffers frequent and severe headaches. He is still not cleared to play contact sports such as football or hockey.“I wish I did have a better story because then it would validate me being out,” Slayton says, noting that he regularly heard the phrase, “Suck it up,” from both students and adults during his involuntary hiatus from sports. “The seriousness of the hit, how nasty the hit looks, is irrelevant to the damage it does to the brain.”Next week: Measuring damage at the cellular level is complicated. So is finding the right approach to recovering from a concussion. Athletes going through the process often feel isolated from their peers, which can lead to secondary issues such as anxiety and depression.Click here for Part 2. Part 2: When the injury is inside your head, some “don’t get it” – July 26, 2016 Bio Latest posts by Taylor Vortherms (see all) read more
The top 15 women’s tennis teams in the nation will travel to Madison for the ITA Team Indoor Championship Feb. 13-16 at the Nielson Tennis Stadium.The Badgers are hosting this event for the 22nd time, and as the host they are privileged to face the toughest competition in NCAA. The team will face off against No. 9 Duke on Friday and will play two subsequent matches throughout the weekend.The Nielson Tennis Stadium has been home to this tournament since 1988, and the team is proud its courts are on display at the highest level. No. 1 singles player, Elizabeth Carpenter, loves that this prestigious tournament visits her stadium every year.“It’s great to have everyone come to our home courts, our atmosphere, our weather,” she said. “It’s really fun to have everyone come here and see how we do it. It’s awesome.”“They get to take some pride in their school and their facility,” UW head coach Brian Fleishman added.The team praised the university in its efforts to continue supporting women’s athletics at UW, particularly the tennis program.“The University of Wisconsin Athletic Department has committed themselves to women’s athletics,” Fleishman said. “This is their way of saying, ‘Women’s athletics is strong, it needs to be supported around the country, and more schools need to have tournaments like these, in any sport, not just tennis.’”“Wisconsin has a great athletic program, and we really host the tournament well, and I think we’ve hosted it well every year,” Carpenter added.During the four-day tournament, Wisconsin will face some of the best competition the country has to offer, but the Badgers aren’t intimidated.“We’re going to be surrounded by amazing players so it’s basically the best opportunity you could ever ask for,” Carpenter said. “Everyone should go out there and play with all their heart, just go for it with the mentality of you have nothing to lose.”The No. 68 Badgers are not scared of the competition. Instead, they see playing against quality teams as a privilege.“It provides us with three quality matches we normally wouldn’t have gotten on our schedule,” Fleishman said. “It allows us to see where we are, what we need to work on, and where we want to go.”The women’s team will play its first match against No. 8 Duke Friday morning at 9 a.m.“We’re looking forward to playing Duke, and we’ll go out there and leave it on the court on Friday and see where it takes us,” Fleishman said. “Win or lose, I think we’ll become a better team.The tournament will include the nation’s 18 best squads. All of these teams will be competing for the first time against one another, and while the top teams are expected to advance, the field is so talent-rich that any team could come out on top.“All these girls have intentions of being top 15 players nationally and of making this team a top 15 team, and they’re going to see it this weekend and be able to measure themselves up, see where we stand.” read more
Submit StumbleUpon Related Articles Polish wagering report highlights STS market dominance August 17, 2020 Share Mateusz Juroszek – Non-stop STS will expand amid industry disruptions August 12, 2020 Share Romania’s ONJN adds 20 sites to blacklist August 14, 2020 Eastern European gambling operator Fortuna Entertainment is looking forward to a new business year, having closed a challenging 2016 for its operations.Releasing its ‘unaudited’ full-year 2016 financial results, Fortuna detailed that group wagering had reached €1 billion mark (FY 2015: €850 million), driven by higher sports betting player activity in all its key markets.The operator that services the markets of the Czech Rep, Poland, Slovakia, Romania and Croatia would report an improved group gross-win of €163 million up 10.5% on corresponding FY 2015’s €147 million.However, Fortuna’s improved revenue metrics would be dampened by poor earnings results as the operator posted an 18% decline in EBITDA to €22 million. Impacted by higher taxes in Czech Rep and burdened by unfavourable sporting results Fortuna would declare corporate profits of €11.2 million (FY 2015: €27 million).This February, Fortuna governance announced that the group had completed its acquisition of Hattrick Sports Group assets increasing its market presence in Romania and Croatia, while creating new B2B channels for Spain and GermanyPer Widerström, CEO and Chairman of the Management Board of Fortuna Entertainment Group.“We are pleased to report on strong growth in total Amounts Staked for the full year 2016. Fortuna accepted total bets in the amount of EUR 1,039.6 million, which is 22.6% more than last year. The Amounts Staked grew double digits in all our key markets, primarily driven by the online betting growth and in particular mobile sports betting while Retail grew single digit. Our EBITDA was impacted by the increase in the betting tax rate in the Czech Republic, unfavourable sports results in 2016 and by planned increase of operating costs to support growth opportunities of the company.” read more