Margins matter. The more OSI Systems (Nasdaq: OSIS ) keeps of each buck it earns in revenue, the more money it has to invest in growth, fund new strategic plans, or (gasp!) distribute to shareholders. Healthy margins often separate pretenders from the best stocks in the market. That's why we check up on margins at least once a quarter in this series. I'm looking for the absolute numbers, so I can compare them to current and potential competitors, and any trend that may tell me how strong OSI Systems's competitive position could be.
Here's the current margin snapshot for OSI Systems over the trailing 12 months: Gross margin is 35.1%, while operating margin is 9.3% and net margin is 6.0%.
Unfortunately, a look at the most recent numbers doesn't tell us much about where OSI Systems has been, or where it's going. A company with rising gross and operating margins often fuels its growth by increasing demand for its products. If it sells more units while keeping costs in check, its profitability increases. Conversely, a company with gross margins that inch downward over time is often losing out to competition, and possibly engaging in a race to the bottom on prices. If it can't make up for this problem by cutting costs -- and most companies can't -- then both the business and its shares face a decidedly bleak outlook.
Valeant Pharmaceuticals International, Inc., a specialty pharmaceutical company, develops, manufactures, and markets pharmaceutical products in the areas of neurology, dermatology, and branded generics. It offers Wellbutrin XL to treat depressive disorders; Xenazine to treat chorea associated with Huntington?s disease; CeraVe to rebuild and repair skin barrier; and Kinerase, a cosmetic product. The company also provides Zovirax ointment to treat initial genital herpes; Xerese to treat recurrent herpes labialis; Elidel to treat atopic dermatitis; and Acanya and Atralin gels to treat acne vulgaris. In addition, it offers Cesamet to treat nausea and vomiting associated with cancer chemotherapy; Tiazac XC to treat hypertension and angina; Wellbutrin to treat depressive illness; Sublinox to treat insomnia; and Lodalis to treat hypercholesterolemia. Further, the company provides Cold-FX to strengthen immune system; Duromine/Metermine for weight loss; Difflam to treat sore throa ts; and Duro-Tuss and Rikodeine to treat dry and chesty cough, as well as various branded generics for treatments, including antibiotics, treatments for cardiovascular and neurological diseases, antifungal medications, and diabetic therapies. Additionally, it offers Bisocard to treat hypertension and angina pectoris; Flucinar, a corticosteroid ointment; and Sachol mouth ulcer gel; Bedoyecta to treat neurotic pain; M.V.I., a hospital dietary supplement for trauma and burns; Tandene to treat fever and headache; Melleril to treat anxiety and depression; and products for therapeutic classes, such as vitamin deficiency, antibacterials, and dermatology. It markets its products in the United States, Canada, Australia, New Zealand, Europe, Latin America, southeast Asia, and South Africa. The company was formerly known as Biovail Corporation and changed its name to Valeant Pharmaceuticals International, Inc. in September 2010. The company was founded in 1960 and is headquartered in M ississauga, Canada.
Advisors' Opinion: - [By Laura Brodbeck]
Thursday
Earnings Expected From: The Priceline Group Inc. (NASDAQ: PCLN), Valeant Pharmaceuticals (NYSE: VRX), CBS Corporation (NYSE: CBS), Apache Corporation (NYSE: APA) Economic Releases Expected: �Chinese CPI, Chinese PPI, European Central Bank Interest Rate Decision, Bank of England interest rate decision, Spanish industrial production, German industrial production Friday
- [By Vera Yuan]
The Partners Value Fund�� Investor Class returned -1.4% in the third calendar quarter, compared to a +1.1% return for the S&P 500 and flat results for the Russell 3000. The largest companies were generally the strongest performers in the third quarter, most notably Microsoft (MSFT) (+12%), Berkshire Hathaway (BRK.B) (+9%) and Valeant Pharmaceuticals (VRX) (+4%) for our Fund. Conversely, small cap stocks fell sharply in July and again in September, with the Russell 2000 index finishing down 7.4% for the quarter. While smaller companies account for approximately 10% of our net assets, these stocks drove most of the Fund�� quarterly decline. Iconix Brand Group (ICON) (-14%), Redwood Trust (RWT) (-14%) and Interval Leisure Group (IILG) (-13%) were the primary small cap detractors. Energy holdings Range Resources (RRC) (-22%) and Apache (APA) (-6%) also impacted results as natural gas and oil prices dropped. We remain optimistic on the long-term outlooks for all five of these stocks, which trade at moderate to large discounts to our business value estimates.
10 Best Electric Utility Stocks To Invest In Right Now: NMI Holdings Inc (NMIHZ)
NMI Holdings, Inc. (NMIH), incorporated on May 19, 2011, is a development-stage company. The Company through its subsidiaries provides private mortgage insurance in the United States. The Company�� wholly owned subsidiaries include National Mortgage Insurance Corporation and National Mortgage Reinsurance Inc One.
On April 24, 2012, NMI Holdings, Inc. (NMI) closed an agreement with MAC Financial Ltd. to acquire MAC Financial Holdings Corporation and its wholly owned subsidiaries. On September 30, 2013, the Company merged MAC Financial Holding Corporation into NMIH, with NMIH surviving the merger, and it merged NMRI Two into NMIC, with NMIC surviving the merger.
Advisors' Opinion: - [By Zachary Tracer]
NMI Holdings Inc. (NMIHZ), a mortgage insurer backed by funds tied to Carlyle Group LP (CG) and Kyle Bass, filed to sell shares in an initial public offering as investors bet on a housing-market rebound.
10 Best Electric Utility Stocks To Invest In Right Now: Petroleo Brasileiro S.A.- Petrobras(PBR)
Petroleo Brasileiro S.A. primarily engages in oil and natural gas exploration and production, refining, trade, and transportation businesses. The company?s Exploration and Production segment involves in the exploration, production, development, and production of oil, liquefied natural gas (LNG), and natural gas in Brazil. This segment supplies its products to the refineries in Brazil, as well as sells surplus petroleum and byproducts in domestic and foreign markets. Its Supply segment engages in the refining, logistics, transportation, and trade of oil and oil products; export of ethanol; and extraction and processing of schist, as well as holds interests in companies of the petrochemical sector in Brazil. The Gas and Energy segment involves in the transportation and trade of natural gas produced in or imported into Brazil; transportation and trade of LNG; and generation and trade of electric power. In addition, the segment has interests in natural gas transportation and d istribution companies; and thermoelectric power stations in Brazil, as well engages in fertilizer business. The Distribution segment distributes oil products, ethanol, and compressed natural gas in Brazil. The International segment involves in the exploration and production of oil and gas, as well as in supplying, gas and energy, and distribution operations in the Americas, Africa, Europe, and Asia. Further, the company involves in biofuel production business. Petroleo Brasileiro was founded in 1953 and is based in Rio de Janeiro, Brazil.
Advisors' Opinion: - [By Aimee Duffy]
Transocean is as good a bellwether as any, given it's the world's largest offshore driller. The company's most recent fleet status report shows that a number of rigs that were idle are now booked for work. Seadrill (NYSE: SDRL ) is no slouch either, with its fleet of 61 drillships and rigs. It just inked a massive $2.7 billion contract with Brazil's state-owned oil company, Petrobras (NYSE: PBR ) .
- [By Jayson Derrick]
One of Petrobras' (NYSE: PBR) contractor dropped a 2.3 km steel pipe into the Atlantic Ocean which will result in the loss of tens of millions of dollars in oil output sales and many millions more in fixing the error. Shares gained 1.29 percent, closing at $13.31.
- [By Associated Press]
Biden will be giving a speech in Rio de Janeiro on Wednesday and then pay a visit to state-run oil company Petrobras (NYSE: PBR ) .
Biden will also visit a slum while in Rio and on Friday meet with Brazil's President Dilma Rousseff, helping pave the way for her expected state visit to Washington later this year.
- [By Paul Ausick]
Big Earnings Movers: Petroleo Brasileiro SA (NYSE: PBR) is up 9.1% at $17.35 after reporting earnings and getting a ratings boost. Merck & Co. Inc. (NYSE: MRK) is down 2.5% at $45.39 as the company struggles to boost revenues. Burger King Worldwide Inc. (NYSE: BKW) is up 5.8% at $20.91 as franchise revenues rose much faster than costs. Loews Corp. (NYSE: L) is down 0.2% at $48.70.
10 Best Electric Utility Stocks To Invest In Right Now: Engility Holdings Inc (EGL)
Engility Holdings, Inc. (Engility), incorporated on November 18, 2011, is a provider of systems engineering services, training, program management, and operational support for the United States Government worldwide. The Company�� business is focused on providing a range of engineering, technical, analytical, advisory, training, logistics and support services. The Company operates in two segments: Professional Support Services and Mission Support Services. The Professional Support Services segment provides Systems Engineering and Technical Assistance (SETA) services, program management support and software engineering lifecycle sustainment and support services. Through its Mission Support Services segment, it provides capabilities, such as defense related training, education and support services, law enforcement training, national security infrastructure and institutional development. In July 2012, L-3 Communications Holdings, Inc. (L-3) completed the spin-off of its subsidiary, Engility. In January 2014, Engility Holdings Inc completed the acquisition of Dynamics Research Corp.
The SETA services that it provides are categorized under the United States Government Professional, Administrative and Management Support Services spending. The Company�� customers include the United States Department of Defense (DoD), the United States Department of Justice (DoJ), the United States Agency for International Development (USAID), the United States Department of State (DoS), Federal Aviation Administration (FAA), Department of Homeland Security (DHS), and allied foreign governments. During the year ended December 31, 2011, it had revenues of 98% of which was derived from its United States Government customers.
Professional Support Services
Engility�� SETA services include systems engineering and integration, including requirements development and traceability; test and evaluation; field testing and data analysis; modeling and simulation (M&S), and systems training solut! ions assessment, development and delivery. The Company provides services for a range of systems, including combat systems, health and welfare systems, information technology (IT) networks and depot-level maintenance, including counter-improvised explosive devices (IEDs). Engility has supported Developmental test and evaluation (DT&E) and Operational test and evaluation (OT&E) for a range of DoD, DHS, and FAA customers, performing a variety of tests, including in management, planning, execution, integration, formal systems, interoperability, regression, reporting, end-to-end testing, and combined test force/integrated test team/integrated process team support.
The Company�� field testing and data analysis business provides staff developing research reports, white papers, test plans, test reports, monthly status reports and inputs for technology data calls and presentation materials. Engility�� M&S business supports the DoD, DHS, FAA and National Aeronautics and Space Administration (NASA). Its Systems Training Solutions Assessment, Development and Delivery business provides systems training solutions assessment, development and delivery support. In addition, Engility provides training solutions across the DoD with regard to training requirements for several acquisition programs, as well as Air Operations Centers and Distributed Mission Operations. It provides technology training solutions for Command and Control, Command, Control and Communications, Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance, Air Traffic Control and Explosive Ordnance Disposal (EOD).
The Company�� Program Management Support business provides qualified staff to perform all aspects of Program and Project Management, including support for planning, organizing, securing, and managing resources. It provides strategic planning and support to program management offices and business operations. It provides financial/budget analysis and management, acquisition manage! ment supp! ort, logistics, and supply chain management and lifecycle support. Engility�� field service representatives deliver technical and advisory services, such as system administration, tactical operations center process engineering, on-location Website development and implementation, analysis center operations process engineering, network implementation and operation, database design and implementation, and information assurance procedure development, documentation, and implementation.
Mission Support Services
This segment consists of six service and support lines: military and the United States Government mission support; defense related training, education and support services; law enforcement training, education and support services; capacity building; international development and support to USAID; linguist services; counter IED analytical operational support, and asset forfeiture support. The Company trains individual soldiers and operational units, and it assists the United States Armed Forces in developing and implementing doctrine-based training systems and programs. In addition, Engility is a provider of leader development programs. Engility is a provider of law enforcement training, support and technical services to international customers, and it holds two contracts through which the United States trains foreign police.
The Company provides integrated programs that help organizations, institutions and governments abroad develop the capacity to fulfill their legally-mandated functions. International Resources Group Ltd. (IRG), its wholly owned subsidiary, has completed over 850 contracts with USAID in 140 countries. Engility�� Translation and Interpretation business provides a range of language services in support of military, intelligence and law enforcement operations, as well as document translation and exploitation services. The Company provides staffing and support services to the agencies of the DoJ, including seized assets management and disposition! , program! management support, and legal and investigative support services.
The Company competes with Lockheed Martin, General Dynamics, Northrop Grumman, Raytheon Systems Company, SAIC, Booz Allen, DynCorp International, Inc., TASC, ManTech, AECOM, ITT Exelis, CSC, Cubic and CACI.
Advisors' Opinion: - [By Rich Smith]
The Department of Defense ended the week with a bang (if you'll pardon the expression) Friday. Across a field of 26 contracts awarded, the Pentagon laid out plans to spend nearly $2.5 billion in total. A few of the publicly traded companies winning awards included:
- [By Rich Smith]
The United States Agency for International Development (USAID) has selected Engility Holdings (NYSE: EGL ) to be part of a $400 million contract to develop "clean energy" solutions. Most of the work will be done for foreign countries.
- [By Rich Smith]
The winners of this mega contract included:
Britain's BAE Systems (NASDAQOTH: BAESY ) Booz Allen Hamilton (NYSE: BAH ) Engility Corp. (NYSE: EGL ) and three privately held companies -- Coherent Technical Services, AM Pierce and Associates, and Sierra Nevada Corp. Each of the six will share in a cost-plus-fixed-fee multiple award contract to supply systems engineering support to the Naval Air Warfare Center Aircraft Department, Aircraft Control Systems Division. Contractors will work on such cutting-edge programs as Joint Precision Approach and Landing Systems (JPALS), Navy Unmanned Combat Aerial Systems (UCAS), Unmanned Carrier-Launched Airborne Surveillance and Strike (UCLASS), Broad Area Maritime Surveillance (BAMS), War Fighter Networking, Unmanned Aircraft System/Ground Based Sense and Avoid, and Automated Aerial Refueling Support.
10 Best Electric Utility Stocks To Invest In Right Now: SPDR S&P International Consumer Discretionary Sector ETF (IPD)
SPDR S&P International Consumer Discretionary Sector ETF (the Fund) seeks to provide investment results that correspond generally to the total return performance of the S&P Developed Ex-U.S. BMI Consumer Discretionary Sector Index (the Index), an index that tracks the consumer discretionary sector of developed global markets outside the United States. The Index represents the non-United States consumer discretionary sub-industry of developed countries included in the S&P Broad Market Index (the Global BMI Index). The Global BMI Index captures the full universe of institutionally investable stocks in developed and emerging markets with float-adjusted market capitalizations of at lease $100 million. The Fund�� investment advisor is SSgA Funds Management, Inc.
Advisors' Opinion: 10 Best Electric Utility Stocks To Invest In Right Now: FibroGen Inc (FGEN)
FibroGen, Inc. (FibroGen) is a research-based biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics to treat unmet medical needs. The Company focuses in the areas of fibrosis and hypoxia-inducible factor (HIF) biology. FibroGen�� products include Roxadustat (FG-4592), which is an oral small molecule inhibitor of HIF prolyl hydroxylases (HIF-PHs), in Phase III clinical development for the treatment of anemia in chronic kidney disease (CKD), and FG-3019, which is a monoclonal antibody in Phase II clinical development for the treatment of idiopathic pulmonary fibrosis (IPF), pancreatic cancer and liver fibrosis. The Company�� subsidiaries include FibroGen Europe Oy (FibroGen Europe) and FibroGen China Anemia Holdings, Ltd. (FibroGen China).
Roxadustat is the HIF-PH inhibitor in Phase III clinical development, which acts by stimulating the body�� natural pathway of erythropoiesis, or red blood cell production. Roxadustat represents a new paradigm for the treatment of anemia in CKD patients and offers injectable erythropoiesis stimulating agents (ESAs). 1,449 subjects have participated in 26 completed Phase I and II clinical studies for roxadustat in North America, Europe and Asia. The Company, along with its collaboration partners, Astellas Pharma Inc., (Astellas) and AstraZeneca AB,(AstraZeneca), has designed a global Phase III program to support regulatory approval of roxadustat in both NDD-CKD and DD-CKD patients in multiple geographies.
FG-3019 is the Company�� fully-human monoclonal antibody that inhibits the activity of connective tissue growth factor (CTGF), a critical common element in the progression of fibrosis and associated diseases. In Phase II IPF clinical studies, FG-3019 demonstrated the stabilization of disease and, in human studies, reversal of lung fibrosis in some patients. In an open-label Phase II pancreatic cancer study of FG-3019 plus gemcitabine and erlotinib, FG-3019 demonstrated a dose-depen! dent improvement in one year survival rate. In 10 Phase I and Phase II clinical studies of FG-3019 to date involving over 340 subjects, FG-3019 has been tolerated across a range of doses studied, and there have been no dose-limiting toxicities observed as of November 13, 2014.
The Company competes with Threshold Pharmaceuticals, Inc., Gilead Sciences, Inc., Halozyme Therapeutics, Inc., Gilead Sciences, Inc., Celgene Corporation, Janssen Biotech, Inc., Johnson & Johnson, Inc., Sanofi, Novartis and Biogen Idec.
Advisors' Opinion: - [By John Udovich]
Recent IPO�FibroGen Inc (NASDAQ: FGEN) surged 22.96% today, reportedly after the journal Hepatology published the results of a workshop between the FDA and the American Association for the Study of Liver Disease (AASLD) which laid out criteria for a phase three study of a treatment for non-alcoholic steatohepatitis (NASH)���meaning its worth taking a closer look at the stock along with the performance of potential small cap or mid cap liver disease stock peers like Conatus Pharmaceuticals Inc (NASDAQ: CNAT), Intercept Pharmaceuticals Inc (NASDAQ: ICPT) and Raptor Pharmaceutical Corp (NASDAQ: RPTP) which rose 24.35%, 10.98% and 2.02%, respectively. According to Investors Business Daily, NASH (the more serious version of fatty liver disease) is potentially an enormous market with about 6 million�US patients but the�lack of previous treatments had left it unclear how the FDA would measure success against the disease while FibroGen Inc doesn't yet have a NASH human trial in the works, it has said it hopes to start one for its lead candidate FG-3019 (its in mid-stage trials for pulmonary fibrosis and liver fibrosis due to hepatitis B infection).
10 Best Electric Utility Stocks To Invest In Right Now: Graham Holdings Co (GHC)
Graham Holdings Company, formerly The Washington Post Company, incorporated on July 21, 2003, is a diversified education and media company whose principal operations include educational services, television broadcasting, cable television systems, and online, print and local TV news. The Company owns Kaplan, a provider of educational services to individuals, schools and businesses, serving over one million students annually with operations in more than 30 countries. Its programs include higher education, test preparation, language instruction and professional training. Its Post-Newsweek Stations, Inc owns six television stations which include WDIV-Detroit (NBC), KPRC-Houston (NBC),WPLG-Miami (ABC), WKMG-Orlando (CBS), KSAT-San Antonio (ABC) and WJXT-Jacksonville (independent). The stations also broadcast digital channels focusing on classic television and lifestyle programming, in addition to operating websites, mobile sites and mobile apps delivering breaking news, weather and community news. Its Cable ONE, headquartered in Phoenix, AZ, serves small-city subscribers in 19 midwestern, western and southern states. Cable ONE provides digital video, Internet and phone service to homes and businesses. The Company�� Slate Group is a daily online magazine that offers fresh angles on stories in the news and entertainment coverage, all with its signature wit and irreverence, publishing provocative commentary on topics such as politics, culture, business and technology. Slate V is a daily online video magazine offering original video about politics, culture, and business, technology.
The Company divested its interest in Avenue100 Media Solutions Inc., a digital marketing company headquartered in Woburn, Massachusetts, in 2012. The Company sold its interest in the Bowater Mersey Paper Company Limited to the Province of Nova Scotia in 2012. In March 2013, the Company announced it has completed the sale of The Herald, a daily and Sunday newspaper and its other print and online products to Sound Publ! ishing, Inc.
Education
Kaplan, Inc., a subsidiary of the Company, provides a range of education and related services worldwide for students and professionals. Kaplan conducts its operations through three segments: Kaplan Higher Education, Kaplan Test Preparation and Kaplan International. Kaplan Higher Education (KHE) provides a wide array of certificate, diploma and degree programs on campus and online designed to meet the needs of students seeking to advance their education and career goals. During the year ended December 31, 2012, Kaplan�� United States-based KHE division businesses include Kaplan University and KHE Campuses.
Kaplan University specializes in online education, is accredited by the Higher Learning Commission of the North Central Association of Colleges and Schools and holds other programmatic accreditations. Kaplan University�� programs are offered online, while some are offered in a traditional classroom format at 12 campuses in Iowa, Maine, Maryland and Nebraska, and four Kaplan University Learning Centers in four additional states. Kaplan University also includes Concord Law School, a fully online law school. During 2012, Kaplan University had approximately 38,800 students enrolled in online programs and approximately 5,600 students enrolled in its classroom-based programs.
Also residing within Kaplan University is the School of Professional and Continuing Education (PACE). PACE offers a range of education solutions to assist professionals in advancing their careers by obtaining professional licenses, designations and certifications. This includes solutions for insurance, securities, real estate, mortgage and appraisal licensing exams and for advanced designations, such as CFA and CPA exams. PACE serves more than 2,900 business-to-business clients, including more than 70 Fortune 500 companies. In 2012, approximately 510,000 students used PACE's exam preparation offerings. As of December 31, 2012, the KHE Campuses business consis! ts of 59 ! schools in 17 states, which provides classroom-based instruction to approximately 21,100 students.
Kaplan International operates businesses in Europe and the Asia Pacific region. In Europe, Kaplan operates in the businesses, which are all based in the United Kingdom and Ireland: Kaplan UK, Kaplan International Colleges (KIC) and a set of higher education institutions. The Kaplan United Kingdom business in Europe is a provider of training, test preparation services and degrees for accounting and financial services professionals, including those studying for ACCA, CIMA and ICAEW qualifications. In addition, Kaplan United Kingdom provides legal and professional training, including the operation of a United Kingdom law school in collaboration with Nottingham Trent University�� Nottingham Law School. In 2012, Kaplan United Kingdom provided courses to approximately 66,000 students, of whom 49,000 were dedicated to accounting and financial services coursework.
The KIC business consists of university pathways business and an English-language training business. The university pathways business offers academic preparation programs especially designed for international students who wish to study in English-speaking countries. KIC operates university pathways programs in collaboration with nine U.K. universities. As of December 31, 2012, KIC�� university pathways business was serving approximately 2,700 students. The English-language business (previously operated as Kaplan Aspect) provides English-language training, academic preparation programs and test preparation for English proficiency exams, principally for students wishing to study and travel in English-speaking countries. KIC operates a total of 41 English-language schools, with 19 located in the United Kingdom, Ireland, Australia, New Zealand and Canada, and 22 located in the United States, where they operate under the name Kaplan International Centers. During 2012, the English-language business served approximately 65,000 stud! ents.
!
Kaplan also operates three higher education institutions in Europe, located in the United Kingdom and Ireland. These institutions are Dublin Business School, Holborn College and Kaplan Open Learning. As of December 31, 2012, these institutions enrolled an aggregate of approximately 6,500 students. In the Asia Pacific region, Kaplan operates businesses in Singapore, Australia, Hong Kong and China. In Singapore, Kaplan operates three business units, Higher Education, Financial and Professional, which serve more than 16,700 students from various countries throughout Asia.
Kaplan Singapore�� Higher Education business provides students with the opportunity to earn bachelor�� and postgraduate degrees in various fields on either a part-time or full-time basis. Kaplan Singapore�� students receive degrees from affiliated educational institutions in Australia, the U.K. and the U.S. In addition, this division offers pre-university and diploma programs. Kaplan Singapore�� Financial business provides preparatory courses for professional qualifications in accountancy and finance, such as the Association of Chartered Certified Accountants (ACCA) and the Chartered Financial Analyst (CFA).
In Australia, Kaplan delivers a broad range of financial services education and professional development courses. In 2012, this business provided courses to approximately 17,400 students through classroom programs and to more than 44,800 students through distance-learning programs. In 2012, Kaplan Australia underwent operational restructuring and offers its programs through three business units: English Language and Pathways; Vocational Education; and Higher Education.
The Vocational Education business of Kaplan Australia includes Kaplan Professional Education (KPE), Carrick Education Group and Franklyn Scholar. KPE offers financial services education programs and continuing professional development courses primarily to a business-to-business market, including banks and numerous! industry! sectors.. Approximately 43,000 students are taught through KPE each year. Carrick has traditionally offered English-language programs, vocational training and higher education courses in Australia. Kaplan is evaluating various strategic alternatives with respect to the Carrick business lines. As of December 31, 2012, Carrick was providing services to approximately 1,300 students. Franklyn Scholar offers a wide range of custom-developed programs to business clients. More than 16,000 students are taught through Franklyn Scholar each year.
The higher education business of Kaplan Australia comprises Kaplan Online Higher Education (KOHE) and Kaplan Business School (KBS), which offers diploma, bachelor�� and master�� degree programs. As of December 31, 2012, KBS has opened a new school in Brisbane and operates in four states in Australia teaching approximately 700 students each year. KOHE teaches approximately 1,800 students annually in postgraduate courses primarily in the financial services sector.
In Hong Kong, Kaplan offers a comprehensive array of programs, ranging from language education and standardized test preparation to corporate and financial training and higher education degree courses. During 2012, Kaplan�� Hong Kong business provided courses to more than 15,700 students.
In China, Kaplan provides foundation programs to Chinese students through partnerships with prestigious Chinese universities and high schools. Kaplan China offers foundation programs at 11 campuses and had more than 1,100 students enrolled at the end of 2012. Kaplan China also cooperates with several Chinese universities to provide ACCA training programs to the students. Cable ONE offers broadband Internet access service on virtually all of its cable systems and is the sole Internet service provider on those systems.
Kaplan International also includes the Kaplan Global Solutions business unit, which continues to develop partnerships with colleges, universities and non-p! rofit corp! orations and foundations. Kaplan Global Solutions, through its Colloquy business, enables its university partners to develop online educational programs by providing an array of research, marketing and design services. Through its Global Pathways programs, Kaplan Global Solutions enables its partner institutions in the Americas to enhance their brand globally and increase international student enrollments by designing and marketing custom programs aimed at student success.
Cable Television Operations
Through its subsidiary Cable One, Inc. (Cable ONE), the Company owns and operates cable television systems that provide video, Internet and voice service to subscribers in 19 midwestern, western and southern states. At the end of 2012, Cable ONE provided cable service to approximately 593,600 video subscribers, representing about 41% of the 1,439,740 homes passed by the systems, had approximately 459,200 subscriptions to high-speed data (HSD) service and 184,500 subscriptions to VoIP (digital voice) service. The video services offered by Cable ONE include certain premium, cable network and local over-the-air channels in high-definition television (HDTV) format. Cable ONE offers voice over Internet Protocol service, which permits users to make voice calls over broadband communications networks, including the Internet.
Other Activities
WaPo Labs is a digital team focusing on experimenting with emerging technologies. In 2012, WaPo Labs launched several projects in partnership with the Company�� media properties: Personal Post, a feature on washingtonpost.com that delivers personalized article recommendations based on a user�� interests and past reading behavior; The Fold, a video news program available on washingtonpost.com, Google TV and Android tablets, and The Root 100, which comprises 100 Android apps aggregating content about the Root 100 honorees, chosen for their impact and influence within the African-American community. In addition to working clo! sely with! the Company�� news websites, WaPo Labs oversees Washington Post Social Reader (Social Reader) and Trove. Social Reader is a Facebook-connected Website that delivers news articles based on a user�� interests and what their friends are reading. Social Reader aggregates content from the Post, Slate, Foreign Policy, Express, the Root and more than 90 other content partners to create a social stream of articles.
Social Code LLC (Social Code) is a marketing solutions company helping Fortune 500 brands maximize their marketing efforts on social media platforms. Celtic Healthcare, Inc. (Celtic) is a Medicare-certified provider of home health and hospice services headquartered in Mars, PA. Through its subsidiaries, Celtic is licensed to provide home health and hospice services throughout Pennsylvania and Maryland. These services include skilled nursing, physical therapy, occupational therapy, speech therapy, social work, nutrition, chaplain and aid services. In addition, Celtic provides virtual care services to patients throughout its service territories. Celtic derives 74% of its revenue from Medicare, with the remaining sources of revenue being Medicaid, commercial insurance and private payors.
The Company competes with Edmunds.com, AutoTrader.com, Realtor.com, Zillow.com, Yelp, OpenTable, Google, Monster.com, CareerBuilder.com and Yahoo!.
Advisors' Opinion: - [By Emily Jane Fox]
In the past year, millennials turned up the heat against low wages at Victoria's Secret, Wal-Mart (WMT, Fortune 500), McDonald's (MCD, Fortune 500), Wendy's (WEN), KFC (YUM, Fortune 500) and others like Kaplan (GHC), which runs tutoring centers.
- [By Holly LaFon]
Almost every investment positively contributed to performance in 2013, and the importance of good partners and strong businesses was evident. New leaders quickly improved operations and sold non-core assets to strengthen the balance sheets at Chesapeake, Hochtief , and Level 3. At Philips and Wendy's, managements focused on the most profitable parts of their businesses while implementing successful programs to increase revenues and margins. We had major asset sales at premiums to our appraisals at Vodafone (VOD) (Verizon Wireless stake) and Graham Holdings (GHC) (The Washington Post).
- [By Paul Ausick]
Kaplan booked more than $2 billion in revenues in 2013, down slightly from 2012. Kaplan is owned by Graham Holdings Co. (NYSE: GHC), which was spun out of the Washington Post Co. when Jeff Bezos, CEO of Amazon.com Inc. (NASDAQ: AMZN) bought the newspaper last year
