Read these Killexams.com 920-164 Q&A and sit in the exam | braindumps | Great Dumps

Preparation Pack of Killexams.com 920-164 PDF - Exam Simulator - examcollection - braindumps at best price with coupon discount - braindumps - Great Dumps

Pass4sure 920-164 dumps | Killexams.com 920-164 real questions | http://www.sraigalleries.com/

920-164 Contact hub Manager RIs6.0 I and M

Study sheperd Prepared by Killexams.com Nortel Dumps Experts


Killexams.com 920-164 Dumps and real Questions

100% real Questions - Exam Pass Guarantee with high Marks - Just Memorize the Answers



920-164 exam Dumps Source : Contact hub Manager RIs6.0 I and M

Test Code : 920-164
Test designation : Contact hub Manager RIs6.0 I and M
Vendor designation : Nortel
braindumps : 57 real Questions

Do not disburse grandiose amount on 920-164 guides, Get this question bank.
My parents told me their stories that they used to study very seriously and passed their exam in first attempt and their parents never bothered about their education and career building. With due respect I would dote to inquire of them that were they taking the 920-164 exam and confronted with the flood of books and study guides that fuddle students during their exam studies. Definitely the admit will be NO. But today you cannot sprint off from these certifications through 920-164 exam even after completing your conventional education and then what to talk of a career building. The current competition is cut-throat. However, you outcome not stand to worry because killexams.com questions and answers are there which is honest enough to occupy the students to the point of exam with aplomb and assurance of passing 920-164 exam. Thanks a lot to killexams.com team otherwise they shall be scolding by their parents and listening their success stories.


Dont forget to try these real exam questions for 920-164 exam.
killexams.com materials are exactly as tremendous, and the percent spreads each and every that it ought to blanket for an extensive exam making plans and I solved 89/one hundred questions using them. I got each one in each and every them by using planning for my test with killexams.com braindumps and Exam Simulator, so this one wasnt an exemption. I can guarantee you that the 920-164 is a ton more difficult than beyond test, so Get equipped to sweat and anxiety.


920-164 Questions and solutions required to pass the certification examination at the dawn try.
The material turned into generally prepared and efficient. I could with out an dreadful lot of a stretch recollect severa answers and marks a 97% marks after a 2-week preparation. Much thanks to you folks for decent association material and assisting me in passing the 920-164 exam. As a working mom, I had constrained time to get my-self Get ready for the exam 920-164. Thusly, I turned into attempting to find some actual material and the killexams.com dumps aide become the prerogative decision.


920-164 certification examination instruction got to be this smooth.
killexams.com works! I passed this exam closing plunge and at that factor over 90% of the questions had been truly legitimate. Theyre noticeably probable to though be legitimate as killexams.com cares to update their material frequently. killexams.com is a top notch company which has helped me greater than once. I am a ordinary, so hoping for reduce impregnate for my next package!


can you believe, each and every 920-164 questions I organized stand been asked.
I handed the 920-164 exam final week and completely depended on this sell off from killexams.com for my coaching. This is a superb pass to Get certified as by some means the questions forward from the actual pool of exam questions utilized by supplier. This manner, nearly each and every questions I were given at the exam seemed familiar, and I knew solutions to them. This could be very dependable and honest, specially given their cash lower back guarantee (I stand a chum who by some means failed an Architect flat exam and got his cash back, so that is for real).


WTF! questions stand been precisely the equal in exam that I prepared!
Asking my father to assist me with some component is dote stepping into in to big problem and that i actually didnt necessity to disturb him during my 920-164 coaching. I knew someone else has to assist me. I just didnt who itd be till surely considered one of my cousins advised me of this killexams.com. It forward to be dote a brilliant present to me because it emerge as extraordinarily usefuland useful for my 920-164 check training. I owe my superb marks to the people strolling on prerogative here because of the fact their dedication made it feasible.


Did you tried these 920-164 real exam bank and occupy a eye at guide.
I had sold your on line mock check of 920-164 exam and stand passed it inside the first attempt. I am very a lot thankful to you for your help. Its a pride to divulge that I even stand passed the 920-164 exam with seventy nine% marks..Thanks killexams.com for the entire thing. You men are honestly wondeful. gratify hold up the respectable work and maintain updating the present day questions.


I sense very assured through making geared up 920-164 dumps.
Hey gentlemen I handed my 920-164 exam utilising killexams.com brain sell off test sheperd in handiest 20 days of preparation. The dumps completely modified my lifestyles once I shelling out them. Presently I am worked in a first rate organisation with a respectable earnings. Thanks to killexams.com and the entire team of the trutrainers. Troublesome issues are efficaciously secured via them. Likewise they deliver superb reference that is useful for the study reason. I solved almost each and every questions in only 225 minutes.


in which can i download 920-164 ultra-modern dumps?
As I am into the IT field, the 920-164 exam, was Important for me to appear, but time restraints made it daunting for me to prepare well. The smooth to memorize answers made it much easier to prepare. It worked dote a complete reference sheperd and I was amazed with the result. I referred to the killexams.com Study sheperd with 2 weeks to accelerate for the exam. I managed to complete each and every the questions well under stipulated time.


making ready 920-164 examination with braindumps is be counted modern some hours now.
killexams.com has top products for college students because those are designed for those students who are interested by the education of 920-164 certification. It become brilliant selection due to the fact 920-164 exam engine has top notch commemorate contents which can be smooth to understand in short time period. I am thankful to the grotesque team because this helped me in my career improvement. It helped me to understand the pass to solution each and every Important questions to Get most rankings. It was brilliant conclusion that made me fan of killexams. i stand decided to forward back returned one greater time.


Nortel Contact hub Manager RIs6.0

Contact middle traffic Veteran invoice Devlin Joins ZOOM overseas to lead Product administration | killexams.com real Questions and Pass4sure dumps

TMCNet: Contact  hub Industry Veteran Bill Devlin Joins ZOOM International to Lead Product Management

FRANKLIN, Tennessee, Aug. 9, 2017 /PRNewswire/ -- ZOOM international, a leader in staff optimization and contact core utility, these days announced the appointment of invoice Devlin to vice chairman of global product management. he will lead product innovation and development for ZOOM and align the enterprise's imaginative and prescient and strategic initiatives—ultimately assisting ZOOM retain its 2d-to-none internet Promoter ranking™ and becoming its management position within the WFO trade.

"invoice has a proven tune record of success in edifice cloud-native items which stand delivered gigantic cost in the unified communications and phone core industries, such that his product teams stand long gone from zero bucks in income to tens of thousands and thousands yearly," mentioned Brian Shore, chief executive officer of ZOOM overseas. "His leadership will aid ZOOM transform excellent contact middle enterprise challenges into advantageous options, assisting their consumers obtain stunning enterprise results. furthermore, he shares the govt crew's unwavering dedication to customer and colleague delight."

Devlin brings pleasing expertise of te UCaaS, CCaaS, and CPaaS sectors to the product management division. prior to now, he turned into principle product manager at Genesys/Interactive Intelligence, where he led the edifice of PureCloud items from inception. previous to that, Devlin became director of technical practicing and earnings engineer at AudioCodes and a application and systems engineer at Nortel. Over his career, he has designed finished contact hub options, together with up to date and open APIs, telephony, omnichannel interactions, voice of the customer, analytics, satisfactory management, group of workers management and perennial contact middle improvement.

responsible for establishing ultimate-in-classification client intimacy, Devlin should be tasked with constructing a team of all-stars and offering on an ingenious product roadmap. additionally, he may be a driving compel at the back of ZOOM's traffic and cloud approach, go-to-market efforts and know-how systems.

"ZOOM represents an incredible casual to rehearse the core product philosophies I've constructed over the years," referred to Devlin. "each the client-centric subculture and management crew at ZOOM are an excellent healthy for product management to transcend and construct items people love. I reckon that ZOOM can revolutionize how brands bring on customer adventure and optimize the contact middle throughout americans, manner and technology. i am very excited to assist ZOOM grow at this stage in its lifecycle."

About ZOOM overseas

ZOOM international is a global staff optimization (WFO) provider serving more than 1,600 shoppers and 350 partners in over 90 countries around the globe. The traffic facts calls and omnichannel communications whereas assisting contact facilities ameliorate the consumer and agent adventure through capturing, analyzing, and improving the character of each and every interactions, while addressing again office compliance and risk. ZOOM is the traffic leader in consumer delight, incomes a web Promoter ranking (NPS) of eighty two+ for the previous 18 months. shoppers latitude from sub–a hundred agent contact facilities to a pair the world's biggest groups, equivalent to Finansbank, Cigna, Rostelecom, IBM, LEGO, and Saudi Aramco. greater guidance will likewise be create at http://www.zoomint.com or on Twitter @zoomint.

View customary content:http://www.prnewswire.com/news-releases/contact-center-trade-veteran-bill-devlin-joins-zoom-international-to-lead-product-management-300501523.html

supply ZOOM international

[ Back To SIP Trunking Home's Homepage ]


Calabrio declares Calabrio Compliance Recording and first-class administration edition 2.7 featuring Redundancy Enhancements for Uninterrupted provider | killexams.com real Questions and Pass4sure dumps

MINNEAPOLIS--(enterprise WIRE)--Calabrio, Inc., a leading provider of workforce optimization and unified laptop application for IP-primarily based contact centers, announced today a brand fresh version of Calabrio Compliance Recording and excellent administration, version 2.7, which aspects a redundant CTI (desktop Telephony Integration) carrier choice for enhanced reliability, greater archival alternatives to toughen PCI (price Card trade) compliance, and erudition employee recording that doesn't require an underlying contact core ACD (automated designation Distributor). Calabrio likewise announced the availability of Calabrio staff administration application, version eight.3.three. both items encompass increased language help.

“distinct contact middle purchasers stand separate needs, so bendy elements are Important and each and every of them are expecting reliability,” mentioned Paul Lidsky, CEO and president of Calabrio, Inc. “The enhancements they announced today additional give a boost to two key features that stand been simple to Calabrio application - the reliability and flexibility that are so crucial to contact facilities in managing americans and procedure.”

Calabrio Compliance Recording and character management (CQM) 2.7

Calabrio Compliance Recording and exceptional administration gives the pliability for shoppers to install a recording solution for satisfactory administration, a hundred% voice recording, or each, the employ of software this is constructed for reliability in IP-based mostly contact centers. This fresh release, edition 2.7, comprises the following enhancements:

Redundant CQM CTI service choice – This enhancement allows for the deployment of redundant CTI features to get sure the censorious recording carrier isn't interrupted with the aid of the failure of a solitary server or service.

crew-stage Archive Workflow Configuration – Archival recording can now be configured to exclude recording from selected sets of enviornment codes to accommodate diverse third-party recording consent rules. This enhancement expands upon the product’s current capabilities around PCI compliance.

listing erudition employees with out ACD Requirement – Calabrio has supported potential worker recordings in outmoded releases, however, an ACD became required. This fresh edition allows businesses to deploy recording with out integration to an ACD through a direct connection to a Communications supervisor (IP-based PBX).

extended Flexibility – the brand fresh application now permits recordings to be saved for an gigantic amount of time, and permits recording of lots of of calls per agent per day so as to give the highest flexibility to fulfill consumer requirements.

Localization – Calabrio nice management now includes localizations for French, Italian, German, Spanish, Dutch, Brazilian Portuguese, Swedish, Danish, Russian, Korean, jap, Simplified chinese language and yardstick chinese language.

Calabrio workforce management (WFM) eight.3.three

Calabrio cadaver of workers administration is a 100% browser-based admit that gives forecasting, scheduling and personnel planning capabilities that are architected to fulfill the particular wants of IP-based mostly or virtual contact facilities. This fresh free up, edition eight.3.3, gives better configurability of experiences and work parameters to tackle the specific traffic needs of Calabrio consumers. The product is likewise now accessible in French.

Supported platforms encompass: Cisco Unified Contact hub specific v5.x, 6.0, 7.0; Cisco Unified Contact core traffic v6.x, 7.x; Avaya CMS four+, Nortel Contact core 6.0 and Symposium 5.0.

Calabrio Compliance Recording and pleasant management 2.7 and Calabrio workforce management eight.3.three are available now through approved Calabrio companions.

Calabrio Compliance Recording and excellent administration and Calabrio personnel management are components of the Calabrio One suite, which integrates workforce optimization with unified computing device applications for brokers and supervisors in order to enhance the consumer journey, grow revenue, and boost profitability. as an example, Calabrio One shoppers can create forecasts, generate work schedules, measure satisfactory and effectivity, access reports and signals, and collaborate within their teams to stand an outcome on performance. The Calabrio One designation represents a flux towards streamlining enterprise techniques - proposing brokers with one view of the client, and providing supervisors and bosses with one view of the contact middle – each and every from a common laptop.

About Calabrio, Inc.

Calabrio, Inc. develops and markets Calabrio One™, a comprehensive suite of consumer interplay and cadaver of workers optimization software that’s convenient to establish into effect, employ and maintain in fresh IP-based mostly customer interplay networks. with the aid of integrating staff optimization in the agent and supervisor workflow, Calabrio helps clients align their contact middle enterprise approaches and performance with their enterprise aims. Calabrio distributes their utility through channel partnerships and an o.e.m relationship with Cisco, and has establish in software on more than 550,000 desktops. Calabrio is a member of the Cisco technology Developer application (CTDP), the Nortel Open developer application, and a gold member of the Avaya DevConnect application. ascertain information and suggestions at www.calabrio.com.

Calabrio, Calabrio One and the Calabrio brand are registered trademarks or logos of Calabrio, Inc. each and every other trademarks outlined during this document are the property of their respective homeowners.


Enghouse Interactive Showcases UC and Omni-Channel Contact hub solutions at IAUG CONVERGE 2015 | killexams.com real Questions and Pass4sure dumps

Contact core solutions leader Reinforces location on the Forefront of the Avaya consumer and DevConnect colleague community

PHOENIX, AZ--(Marketwired - Jun 15, 2015) - Enghouse Interactive (www.enghouseinteractive.com), developer of a complete portfolio of unified communications (UC) and Get in touch with core solutions, nowadays introduced that it would note off its expansive portfolio from sales space #1029 at IAUG CONVERGE 2015, taking vicinity June 14 - 18, 2015 in Denver, CO, in addition to its commitment as a Gold Sponsor.

"As a longtime, tenured member of the Avaya user community and DevConnect associate community, Enghouse Interactive is in a position to deliver an unparralleled, inherent capabilities of Avaya air of mystery® conversation supervisor, (ACM), Avaya IP office and other UC options to every deployment," pointed out John Cray, vice president of product management, Enghouse Interactive,.

Enghouse Interactive's expansive portfolio of contact core and client interaction solutions lead the market with superior performance, equivalent to omni-channel queuing, integrated presence, representing a powerful UC-integrated contact core offering.

Paired as a bundle, EICC and Enghouse Interactive fine administration Suite (QMS) creates a compelling complement to Avaya IP workplace and ACM structures. Communications core is a complete omni-channel contact core admit that includes IVR (interactive voice response), routing of each and every kinds of communication in a generic queue, productiveness rig for brokers and supervisors, and minute administration reporting. EICC additionally boasts a unified communications part, that includes voice mail, unified messaging (e.g. voice mail in mailbox), IM, wealthy presence, enterprise user communique equipment, and complete management reporting.

QMS contains an IP convoke recording solution with 100% compliance recording; caused, selective or scheduled recording; and lines equivalent to list on demand. moreover, the suite allows for contact hub administrators to checklist clients' computers -- by window or utility, selectively or in complete -- as well as assessment templates and reporting to grade performance on calls and to school clients/brokers on enhancing the customer event.

EICC likewise integrates natively with charisma® verbal exchange supervisor. Leveraging Avaya's TSAPI for communication manager, a high-degree C/C++ API in keeping with the CSTA typical, this integration enables shoppers to seamlessly maximize their odds from both options.

TSAPI allows access to the total complement of third-birthday party convoke manage capabilities supplied by pass of ACM as an evolution server. These third-birthday celebration convoke wield capabilities involve controlling particular calls or stations, routing of incoming calls, receiving notifications of activities, invoking communique supervisor aspects, and querying conversation supervisor for tips.

further phoneset solutions from Enghouse Interactive allow users to leverage their investments in IP with the aid of offering useful, converged enterprise functions to the screens of Avaya CS 1000 IP telephones, and conveying fresh and existing functions for true-time interplay on the mobile displays. Enghouse Interactive applications are confiscate with Avaya CS 1000 with 11xx, 200x and 12xx sequence IP telephones. censorious to commemorate is that with the Avaya (Nortel) software Gateway 2000 now manufacture-discontinued, Enghouse Interactive can present consumers applications for Avaya CS 1000 as a replacement answer. 

besides constructing customized solutions for valued clientele, Enghouse Interactive substances a suite of prepackaged applications for the enterprise, hospitality and buying and selling markets.

"The ensuing productiveness improvements a ways exceed the baseline cost savings and performance of Voice-over-IP (VoIP); the telephones evolve from being used comfortably for voice communications to information home equipment, complementing or even changing the workstation," added John Cray.

ABOUT ENGHOUSE INTERACTIVE Enghouse Interactive supplies technology and expertise to maximize the cost of every consumer interplay. The company develops essentially the most comprehensive portfolio of client interaction administration options. Core technologies involve contact center, attendant console, predictive outbound dialer, talents management, IVR and convoke recording options that aid any telephony atmosphere, on premise or in the cloud. Enghouse Interactive has heaps of consumers global, supported through a world network of partners and greater than seven-hundred dedicated group of workers throughout the company's international operations.

Enghouse Interactive is a subsidiary of Enghouse methods restrained, a application and features company traded on the Toronto stock trade (TSX) under the symbol " ESL." founded in 1984, Enghouse methods is a normally ecocnomic business, which has grown both organically and thru the acquisition of neatly-considered consultants together with Arc, CosmoCom, Datapulse, Syntellect, Telrex, Trio, Voxtron, Reitek and Zeacom.

For more information, gratify talk over with www.enghouseinteractive.com.


While it is difficult errand to pick solid certification questions/answers assets regarding review, reputation and validity since individuals Get sham because of picking incorrectly benefit. Killexams.com ensure to serve its customers best to its assets as for exam dumps update and validity. The greater allotment of other's sham report objection customers forward to us for the brain dumps and pass their exams cheerfully and effortlessly. They never covenant on their review, reputation and character because killexams review, killexams reputation and killexams customer conviction is imperative to us. Extraordinarily they deal with killexams.com review, killexams.com reputation, killexams.com sham report grievance, killexams.com trust, killexams.com validity, killexams.com report and killexams.com scam. On the off casual that you descry any spurious report posted by their rivals with the designation killexams sham report grievance web, killexams.com sham report, killexams.com scam, killexams.com protestation or something dote this, simply remember there are constantly terrible individuals harming reputation of respectable administrations because of their advantages. There are a powerful many fulfilled clients that pass their exams utilizing killexams.com brain dumps, killexams PDF questions, killexams braindumps questions, killexams exam simulator. Visit Killexams.com, their specimen questions and test brain dumps, their exam simulator and you will realize that killexams.com is the best brain dumps site.

Back to Braindumps Menu


HP0-055 rehearse test | 1Z0-036 sample test | 000-108 rehearse test | S90-03A bootcamp | 99 free pdf | HP0-M18 pdf download | HP2-E50 real questions | EN0-001 cram | P2080-034 free pdf | 648-232 study guide | BCP-221 real questions | C9520-923 brain dumps | 156-305 test prep | 000-564 brain dumps | HP0-276 cheat sheets | PW0-200 exam prep | 000-R01 braindumps | FCNSP.V5 free pdf | 000-N27 study guide | HP2-W103 questions and answers |


Here is the bests location to Get assist pass 920-164 exam?
killexams.com offers you accelerate through its demo version, Test their exam simulator that will enable you to undergo the real test environment. Passing real 920-164 exam will be much easier for you. killexams.com gives you 3 months free updates of 920-164 Contact hub Manager RIs6.0 I and M exam questions. Their certification team is continuously reachable at back cease who updates the material as and when required.

We stand Tested and Approved 920-164 Exams. killexams.com gives the most actual and most recent IT exam materials which practically hold each and every information focuses. With the sheperd of their 920-164 exam materials, you dont stand to squander your opening on perusing greater allotment of reference books and simply necessity to scorch through 10-20 hours to ace their 920-164 real questions and answers. Whats more, they outfit you with PDF Version and Software Version exam questions and answers. For Software Version materials, Its offered to give the applicants mimic the Nortel 920-164 exam in a real situation. killexams.com Huge Discount Coupons and Promo Codes are as under;
WC2017 : 60% Discount Coupon for each and every exams on website
PROF17 : 10% Discount Coupon for Orders greater than $69
DEAL17 : 15% Discount Coupon for Orders greater than $99
DECSPECIAL : 10% Special Discount Coupon for each and every Orders
Click http://killexams.com/pass4sure/exam-detail/920-164

killexams.com pinnacle rate 920-164 exam simulator may be very facilitating for their clients for the exam instruction. each and every vital functions, subjects and definitions are highlighted in brain dumps pdf. Gathering the records in one region is a real time saver and enables you prepare for the IT certification exam inside a short time span. The 920-164 exam offers key points. The killexams.com pass4sure dumps enables to memorize the censorious functions or ideas of the 920-164 exam

At killexams.com, they provide thoroughly reviewed Nortel 920-164 schooling sources which can be the fine for Passing 920-164 exam, and to Get licensed by using Nortel. It is a first-class preference to boost up your career as a professional within the Information Technology enterprise. They are pleased with their popularity of helping people pass the 920-164 test in their first actual tries. Their pass rates within the beyond years were truly wonderful, thanks to their elated clients who're now capable of boost their career inside the dote a glimmer lane. killexams.com is the primary wish among IT professionals, specifically those who're looking to climb up the hierarchy tiers quicker of their respective agencies. Nortel is the industry leader in information technology, and getting licensed by means of them is a guaranteed pass to be triumphant with IT careers. They assist you outcome actually that with their high exceptional Nortel 920-164 training materials. Nortel 920-164 is omnipresent each and every over the world, and the commercial enterprise and software program solutions furnished by using them are being embraced by means of almost each and every of the businesses. They stand helped in driving heaps of agencies at the positive-shot course of success. Comprehensive expertise of Nortel products are taken into prepation a completely essential qualification, and the experts certified by means of them are rather valued in each and every companies.

We provide real 920-164 pdf exam questions and answers braindumps in two formats. Download PDF & rehearse Tests. Pass Nortel 920-164 real Exam speedy & without problems. The 920-164 braindumps PDF benign is to be had for studying and printing. You can print extra and rehearse often. Their pass rate is high to ninety eight.9% and the similarity percent among their 920-164 study sheperd and actual exam is ninety% primarily based on their seven-year teaching enjoy. outcome you want achievements in the 920-164 exam in only one try? I am currently reading for the Nortel 920-164 real exam.

Cause each and every that subjects here is passing the 920-164 - Contact hub Manager RIs6.0 I and M exam. As each and every which you want is an unreasonable rating of Nortel 920-164 exam. The best one component you want to outcome is downloading braindumps of 920-164 exam exam courses now. They will now not permit you to down with their cash-returned assure. The professionals additionally preserve pace with the most updated exam for you to gift with the most people of up to date materials. One yr free Get admission to with a view to them through the date of purchase. Every applicants may afford the 920-164 exam dumps thru killexams.com at a low price. Often there is a reduction for each and every people all.

In the presence of the actual exam content of the brain dumps at killexams.com you may without hardship broaden your zone of interest. For the IT professionals, it's miles vital to enhance their competencies in line with their profession requirement. They get it pass for their clients to occupy certification exam with the assist of killexams.com validated and actual exam cloth. For a vibrant destiny within the world of IT, their brain dumps are the pleasant alternative.

A top dumps writing is a very essential feature that makes it smooth with a purpose to occupy Nortel certifications. But 920-164 braindumps PDF offers console for applicants. The IT certification is pretty a tough project if one does not find prerogative guidance inside the shape of legal resource material. Thus, we've got genuine and up to date content for the guidance of certification exam.

It is very Important to collect to the factor material if one desires to shop time. As you want masses of time to eye for up to date and real exam cloth for taking the IT certification exam. If you find that at one location, what can be better than this? Its handiest killexams.com that has what you want. You can preserve time and live far from hassle in case you buy Adobe IT certification from their internet site.

killexams.com Huge Discount Coupons and Promo Codes are as under;
WC2017 : 60% Discount Coupon for each and every tests on website
PROF17 : 10% Discount Coupon for Orders extra than $69
DEAL17 : 15% Discount Coupon for Orders extra than $99
DECSPECIAL : 10% Special Discount Coupon for each and every Orders


You stand to Get the most updated Nortel 920-164 Braindumps with the actual solutions, that are prepared with the aid of killexams.com experts, allowing the candidates to grasp erudition about their 920-164 exam direction within the maximum, you will not find 920-164 products of such exceptional anywhere within the market. Their Nortel 920-164 rehearse Dumps are given to applicants at performing 100% of their exam. Their Nortel 920-164 exam dumps are modern inside the marketplace, providing you with a prep to establish together to your 920-164 exam inside the prerogative manner.

920-164 Practice Test | 920-164 examcollection | 920-164 VCE | 920-164 study guide | 920-164 practice exam | 920-164 cram


Killexams 1D0-435 cheat sheets | Killexams HP0-698 study guide | Killexams 1Z0-569 dumps | Killexams LOT-804 brain dumps | Killexams HP2-Z33 VCE | Killexams 642-584 braindumps | Killexams ACMP-6.4 rehearse questions | Killexams 310-013 rehearse test | Killexams HP0-S36 free pdf | Killexams A2040-951 exam prep | Killexams 9L0-614 rehearse test | Killexams EX0-002 braindumps | Killexams HP2-B121 exam prep | Killexams 500-301 test prep | Killexams HAT-450 test prep | Killexams HP0-M25 sample test | Killexams 920-234 cram | Killexams 000-272 test prep | Killexams JN0-633 exam questions | Killexams 1V0-603 questions and answers |


killexams.com huge List of Exam Braindumps

View Complete list of Killexams.com Brain dumps


Killexams E22-265 rehearse test | Killexams 350-022 free pdf download | Killexams H12-261 exam prep | Killexams P8010-004 exam questions | Killexams HD0-300 study guide | Killexams VCS-253 exam prep | Killexams COG-605 pdf download | Killexams 156-205 bootcamp | Killexams NCE braindumps | Killexams HP0-239 dumps | Killexams CISSP free pdf | Killexams C2020-612 study guide | Killexams 190-829 free pdf | Killexams 000-622 real questions | Killexams HP0-J16 braindumps | Killexams MA0-104 test prep | Killexams 3V0-624 questions and answers | Killexams HP2-K39 real questions | Killexams HP0-D17 real questions | Killexams 310-043 braindumps |


Contact hub Manager RIs6.0 I and M

Pass 4 sure 920-164 dumps | Killexams.com 920-164 real questions | http://www.sraigalleries.com/

Otter Tail Corporation (OTTR) CEO Charles MacFarlane on Q4 2018 Results - Earnings convoke Transcript | killexams.com real questions and Pass4sure dumps

Otter Tail Corporation (NASDAQ:OTTR) Q4 2018 Results Earnings Conference convoke February 19, 2019 11:00 AM ET

Company Participants

Loren Hanson - Manager of IR

Charles MacFarlane - President and CEO

Kevin Moug - SVP and CFO

Conference convoke Participants

Paul Ridzon - KeyBanc

Chris Ellinghaus - Williams Capital

Operator

Good morning, and welcome to the Otter Tail Corporation's 2018 Year-End Earnings Conference Call. Today's convoke is being recorded, and they will hold a question-and-answer session after the prepared remarks.

I will now whirl the convoke over to the company for their opening comments.

Loren Hanson

Good morning, everyone, and welcome to their call.

My designation is Loren Hanson and I manage Otter Tail Investor Relations Area. terminal night, they announced their 2018 year-end results and their 2019 earnings per participate guidance range. Their complete earnings release and slides accompanying this convoke are available on their website at ottertail.com. A replay of the convoke will be available on their website later today.

With me on the convoke today are, Chuck MacFarlane, Otter Tail Corporation's President and CEO; and Kevin Moug, Otter Tail Corporation's Senior Vice President and Chief monetary Officer.

Before they begin, I want to remind you that they will be making forward-looking statements during this call. As renowned on skid 2, these statements limn their current judgment or view of what the future holds. They are theme to risks and uncertainties that may cause actual results to disagree materially. So gratify be advised about placing undue reliance on any of these statements. Their forward-looking statements are described in more detail in their filings with the Securities and Exchange Commission, which they embolden you to review. Otter Tail Corporation disclaims any duty to update or revise their forward-looking statements due to fresh information, future events, developments or otherwise.

For opening remarks, I will now whirl the convoke over to Otter Tail Corporation's President and CEO, Mr. Chuck MacFarlane.

Charles MacFarlane

Thank you, Loren, and respectable morning, everyone.

Last night, they released their 2018 results. gratify mention to skid 5 as I inaugurate my comments. Earnings per participate were $2.06, which is above the midpoint of their updated 2018 earnings guidance of $2 to $2.10.

Our stock performed well. For the three years ending 2018, Otter Tail Corporation ranked number one in total shareholder return in the EEI index of investor-owned electric utilities. Total shareholder return has grown at a compound annual rate of 15.3% over the past five years. The dividend yield at year-end was 2.7%.

Some of their Otter Tail Power's 2018 accomplishments include; The North Dakota Public Service Commission granularity of power and overall revenue extend of $4.6 million or 3.1% with a return on equity of 9.77%. Final rates went into outcome February 1, 2019. They implemented interim rates in South Dakota.

Interim rates, which are theme to refund, remain in location until the Public Utilities Commission makes a conclusion on their request to extend non-fuel rates by approximately $3.3 million or 10.1%. The Commission will likewise select on the second step in their request, which is an additional 1.7% to recover costs for the proposed Merricourt wind generation facility when it goes into service.

We completed straining the grandiose Stone South-Ellendale 345 kV regional transmission project in 2018 and energized the line in early February of 2019. Their participate of the cost for this project was $115 million, because this is a MISO multi-value project, which allows cost recovery from each and every customers who benefit from the line. Their customers will pay less than 1% of the project costs.

In 2019, Otter Tail Power will likewise enhance transmission infrastructure in their Southeastern/South Dakota service territory, providing an approximate $39 million investment that will ameliorate reliability and provide increased capacity for customers in the southern cease of their service territory.

In the fourth quarter and into 2019, they continue to work through the MISO generator interconnection process for the Merricourt wind generation projects, which will be Otter Tail's largest capital investment at $270 million. They evaluate the project construction will began in July of 2019 with an expected commercial operation in the third quarter of 2020.

South Dakota Public Utilities Commission approved the site permit for the $165 million Astoria Station natural gas generation project. And the North Dakota PSC approve the project for rider recovery in their recent North Dakota rate case.

We will inaugurate construction in 2019 and expect to be operational by March 2021. These and other investments will produce an annual growth rate of 8% in their rate ground between 2018 and 2023 in a constructive regulatory environment.

The Minnesota Public Utilities Commission approved a one-year extension to June 1, 2020, for the filing of their next resource plan. Two key environmental regulations that may impact their modeling are the regional haze rule and the proposed affordable cleanly energy rules. Delaying their filing one year will allow us to reckon the outcomes of these environmental regulations and develop a more informed resource plan.

In August, they published their ESG Sustainability Report, which gives investors and others insight into their environmental, convivial and governance commitments. On skid 15 through 17, you'll descry highlights from their report and a glimpse into how their electric utilities plant and service and resource blend are evolving due to significant investments in low cost renewable energy and transmission that enables regional wind development.

Last, but certainly not least, February 4, 2019, marked the official go-live date for their fresh Customer Information System. This 37-month project is their biggest system upgrade in the generation. I'm disdainful of the project team for its result throughout the project and for executing a seamless cutover design to assist ensure continued customer satisfaction.

I'd likewise dote to give special recognition to Coyote Station in North Dakota for achieving two milestones. By year-end, the plant exceeded 3 million megawatt hours produced, the second highest yearly generation amount in the plants 38-year history and crossed over the 3 million man-hour without a loss time incident.

The plants terminal loss time incident occurred 18 years ago. Congratulations to Coyote Station employees for these significant accomplishments and thank you to each and every of their employees for continuing to establish safety first.

Our manufacturing companies likewise experienced notable accomplishments in 2018. BTD their compress metal fabricator and largest manufacturing traffic increased sales by 19% in 2018 and the Georgia location is profitable in the terminal half of the year. The company achieved this while reporting its lowest OSHA rate and highest on-time delivery in history.

T.O. Plastics celebrated its 70th anniversary in 2018 and achieved 6% overall sales growth and a 29% extend in earnings, driven mostly by lower income tax rates. The company's horticulture segment continues to grow through key account relationships and fresh product launches.

Northern Pipe Products and Vinyltech had an exceptional year supported by stout market require and prices, and continued excellent operational performance. They positively contributed to earnings, while remaining highly competitive.

Both companies continue to prove - ameliorate in the markets they serve by demonstrating flexibility and responsiveness to customer needs. We're targeting additional organic volume growth in these companies in 2019.

Employees across their organization are aligned with their growth strategy, which includes capital investment, continued improvement in operations and talent development. It's with much appreciation that I congratulate them on a job well done in 2018. In 2019, they will continue to execute on utility rate ground growth and create additional organic growth in the manufacturing businesses.

Now, I'll whirl it over to Kevin for the monetary perspective.

Kevin Moug

Well, thank you, Chuck, and respectable morning, everyone.

I will cover the following items, their 2018 monetary results; their liquidity position; the might equipoise sheet and corporate credit ratings; the extend in their 2019 indicated annual dividend; their five-year capital expenditure design and their 2019 traffic outlook.

We are pleased with their stout 2018 monetary performance. Revenues grew approximately 8% and earnings grew approximately 14% with each and every their reporting segments showing year-over-year increases in revenues and earnings. They earned $2.06 per share, which compared with $1.82 per participate terminal year.

Our 2018 return on equity was 11.5% on an equity ratio of 54.5%. Their two platform strategy continues to deliver higher returns on equity on a higher equity layer when compared to holding company peers.

Let me now provide an overview of 2018 earnings by segment, as shown on Slides 20 and 21. Electric segment net earnings increased $5 million year-over-year. Key drivers involve increased revenues due to more benign weather, year-over-year earnings improved by $0.11 a participate due to the weather and compared to common weather was benign by $0.07 a share, increased revenues due to interim rates associated with their North Dakota generic rate case, net of estimated refunds, which was implemented in January of 2018.

Interim rates associated with their South Dakota rate case went into outcome in October of 2018, increased renewable resource, rider revenues in Minnesota and North Dakota, and increased Minnesota SIP revenues.

These items were partially offset by a $9.6 million reduction in revenues related to a provision for refunds to recognize that current retail rates in their service zone and FERC approved transmission tariffs, their recovering federal income taxes in excess of lower rates under tax reform, lower North Dakota environmental cost recovery rider revenue due to the impact from lower tax rates, a reduction in the return on equity component of the rider in the lower investment equipoise theme to recovery from depreciation.

For their North Dakota and South Dakota transmission costs recovery riders due to the impact of lower tax rate and reduced transmission costs. Other items impacting the segment's earnings were higher operating and maintenance, property tax and depreciation expenses.

We did stand a scheduled maintenance outage in 2018 at their grandiose Stone plant that cost $2.9 million. They don't stand any planned maintenance outages in 2019. In income tax, expense was lower in 2018, mainly due to the reduction in federal corporate tax rates from 35% to 21% and the reversal of excess deferred taxes.

Net earnings for the Manufacturing segment increased $1.8 million year-over-year. Key elements of this improvement are as follows; BTD's revenues increased $36.8 million, of which $33.8 million came from increased product sales to each and every its major cease markets, $12.7 million of this extend relates to higher material costs that were passed through to customers with the equipoise due to increased sales and improved pricing. BTD's scrap metal revenues likewise increased due to higher volumes and higher scrap sales prices.

These increases were offset in allotment by higher cost of goods sold and operating expenses, and higher income taxes due to the elimination of the Section 199 deduction, which was eliminated in 2018 and the write-down of deferred tax liabilities in 2017, which lowered terminal year's income tax expense. These items resulted in a $1.2 million extend in BTD's year-over-year earnings.

T.O. Plastics revenues improved $1.9 million, mainly due to increased sales of horticultural containers. The increased revenues were partially offset by higher cost of goods sold, labor, freight and operating expenses. Earnings before taxes increased slightly year-over-year, however due to a lower tax rate earnings improved $600,000 at T.O. Plastics.

The Plastics segment's earnings increased $2.1 million year-over-year as a result of a 9.4% extend in PVC pipe prices, a 2.3% reduce in pounds of pipe sold. The extend in sales prices more than offset higher cost of goods per pound sold and lower sales volumes. The net impact of these items resulted in an 11.3% improvement in vulgar margins.

Sales volumes were lower in the terminal four months of 2018 compared with the same time era in 2017, primarily due to the increased sales from hurricane-related impacts in the Gulf Coast region.

Those dynamics favorably impacted earnings by an estimated $0.09 a participate in 2017, and the benign variance due to tax reform was offset by a loss of the Section 199 deduction in 2018 from lower tax expense in 2017 from a $3.3 million reduction in deferred tax liabilities due to tax reform.

Our corporate expenses before taxes increased $4 million year-over-year, primarily due to an extend in charitable contributions due to the establishment of the Otter Tail Corporation Charitable Foundation in 2018, the extend in employee benefit costs and in other corporate costs. They realized the $5 million net extend in tax savings in the corporate costs hub in 2018, primarily due to the write-down of deferred tax assets in 2017 from tax reform.

This was offset by an extend in tax expense, mostly related to uncertain tax positions and the establishment of a valuation allowance on the recoverability of certain condition net operating losses. And they experienced a reduction in tax savings as a result of the federal tax rate change. The net result of their lease items was $1 million year-over-year reduction in corporate expense.

Moving to skid 22, let's review their monetary condition and liquidity. terminal year, they had no equity financing activity and don't expect any equity issuances in 2019. Their two credit agreements are in location until October 31 of 2023 between expected cash flux generated from 2019 operating activities and these credit facilities. They stand the confiscate levels of liquidity to uphold both of their traffic platforms.

We currently expect to outcome a private placement of debt at Otter Tail Power Company in the sweep of $150 million to $170 million during the terminal half of 2019 in connection with their rate ground growth. And, in 2018, each and every three rating agencies affirmed Otter Tail Corporation and Otter Tail Power's ratings and outlook. And they remain committed to maintaining investment grade credit ratings and we'll manage their operations to reflect that commitment.

As shown on skid 24, the Board of Directors increased their indicated annualized dividend rate from $1.34 per participate to $1.40 per share. This 4.5% extend is a result of their solid 2018 performance and their 2019 outlook, the company's stout equipoise sheet, liquidity, cash generation profile and their commitment to enhancing shareholder returns.

We expect future dividend increases to be in line with earnings growth, while maintaining a targeted payout ratio in the sweep of 60% to 70% and they stand paid dividends on their stock for 80 years for 321 consecutive quarters.

Slide 25 highlights their capital expenditure plans for the 2019 through 2023 timeframe. They expect capital expenditures for 2019 to be $203 million. Planned expenditures for this year includes $61 million for the Merricourt wind project and $40 million for the Astoria Station natural gas-fired plant. These investments will continue to positively impact the Corporation's earnings and returns on capital.

The five-year capital design calls for approximately $973 million in utility projects, 45% of this capital disburse will be recovered through riders. The design likewise includes $97 million for the manufacturing and plastics businesses. In their updated compounded annual growth rate in rate ground over the 2018 through 2023 timeframe is projected to be 8%, using 2018 as the ground year.

Slide 26 reflects their 2019 consolidated earnings per participate guidance of $2.10 to $2.25. This guidance includes their strategies for improving future results, the cyclical nature of the manufacturing businesses as well as current regulatory factors facing their electric segment.

Our electric segment's 2019 net income is expected to be higher than 2018 based on constructive outcome in the South Dakota rate case, increased AFUDC for planned capital projects, including Merricourt wind project in the Astoria natural gas plant, along with increased revenues from the North Dakota generation cost recovery rider on the Astoria Station.

Increased revenues from the completion of the grandiose Stone South-Ellendale project and additional transmission investments related to their South Dakota transmission reliability project, decreased operating and maintenance expenses due to a reduce in pension medical workers' compensation and retiree medical benefits, their discount rate is increasing in 2019 to 4.5% from 3.9%, driven by the increasing interest rate environment. These items are offset by common weather. Weather favorably impacted their 2018 earnings per participate by $0.07 compared to normal.

Higher property tax and depreciation expense due to larger transmission projects being establish into service. They expect increased earnings from their manufacturing segment in 2019 due to increased sales at BTD and the recreational vehicle, lawn and garden and agricultural cease markets, likewise increased scrap revenues due to stronger sales volumes, the increased earnings at T.O. Plastics, primarily driven by increased sales in horticultural life science and industrial cease markets. The backlog for this segment is approximately $211 million for 2019 compared with $166 million a year ago.

We expect Plastics' 2019 net income to be lower than 2018. They are expecting lower operating margins due to increasing resin prices and slightly higher sales volumes compared to terminal year. In corporate costs, net of tax are expected to be lower in 2019.

Our current earnings guidance for 2019 reflect 68% of their earnings from their electric segment and 32% of their earnings from their manufacturing and plastics segments. This compares with 66% and 34%, respectively, in 2018. The extend in the electric earnings blend is being driven by the rate ground growth related to Merricourt, Astoria and South Dakota reliability projects.

We expect the long-term earnings blend to continue to accelerate back in line with 75% of earnings from their electric segment and 25% of their manufacturing and plastics segments net of unallocated corporate costs. This will be driven by the capital plan, which calls for approximately 91% of their capital disburse over the 2019 through 2023 timeframe to be in the electric segment. They believe their 2019 guidance further positions us to achieve a 5% to 7% compounded annual growth rate in earnings per participate using 2018's $2.06 a share.

Our 2019 guidance is dependent on the traffic and the economic challenges their two platforms will face this year. For the utility, key drivers involve constructive outcome in the South Dakota rate case and successful execution of their rate ground growth projects.

For BTD, key drivers involve continued operational improvements across each and every locations to further ameliorate their return on sales margins. And while earnings are expected to decline in 2019 for Plastics, this segment continues to be a stout complement to their portfolio by providing stout earnings, cash flows to uphold their dividend and returns on invested capital.

We are now ready to occupy your questions.

Question-and-Answer Session

Operator

[Operator Instructions] Their first question comes from Paul Ridzon with KeyBanc.

Paul Ridzon

Could you give just some background on this charitable contribution and what they should eye for going forward?

Charles MacFarlane

Sure, Paul. I treasure the question. They have, for a number of year, been considering establishing the foundation for, well, both Otter Tail Corporation and then they likewise stand established one for the Otter Tail Power Company as well.

And they wanted to, in 2018, certainly assist Get the foundations off on the prerogative foot with the respectable commitment to fund those organizations going forward, and so you descry a probably a much healthier contribution made for the Otter Tail Power - I'm sorry the Otter Tail Corporation foundation in that $2 million amount, the Power Company is a $0.5 million.

And as they benign of eye forward, I would divulge you that future contributions are ultimately theme to the success, the monetary success that we're having at both of the entities, but in the utility we're looking for the future benign of range, I would say, in that $2 million to $500,000 sweep on a go-forward basis and at the parent company depending on results you could see, I suppose, in a sweep of $300,000 to $600,000 a year.

Paul Ridzon

So '18 was just benign of getting this - the censorious mass.

Charles MacFarlane

Yes.

Paul Ridzon

And then relative to your EEI data, it looks dote some CapEx moved from '19 to '20, can you give a runt more detail there?

Charles MacFarlane

The movement, Paul, relates to the Astoria - Merricourt. The movement is the Merricourt project when you - in terms of what you - they saw at EEI and then what they descry now, we've seen a bit of a shove back in the timing of the Merricourt project. And so basically the project isn't going away. It's just a movement of dollars from '19 into '20.

Paul Ridzon

So everything fundamentally quiet the same, just the timing shift?

Charles MacFarlane

Yes.

Paul Ridzon

And then I know I inquire of this every call, but pressures you're seeing maybe from the benefit of tax reform being competitively reduced in the manufacturing segments?

Charles MacFarlane

Paul, they just haven't seen that. With pair of their - as they talk about in the press release and in my comments, they were actually - they saw cost uplift from some of their customers in 2019 both in benign of across the board at BTD and T.O. Plastics. They were able to Get cost increases in location with customers where they thought it was confiscate and needed. They haven't had any shove back from customers looking for benign of a reduction in pricing, because of the tax savings were picking up in the manufacturing businesses.

It doesn't be substantive that it couldn't happen, but they certainly are seeing any of that and of course they actually stand - they could be looking for the same things on their supply side as well when they negotiate their prices with their supply ground and given the PVC commodity nature of that traffic prices were up in 2018 in the PVC pipe traffic and that was really a reflective of market conditions.

We're seeing some softening of prices they saw that in the fourth quarter and as they head into '19, but it's really more market driven that it is having anything to outcome with tax reform.

Paul Ridzon

What's driving that softening in the market?

Charles MacFarlane

I deem that there - they as they went through '18, they saw much stronger prices than they expected. Now, as they head into the - they completed the fourth quarter, they saw some uplift in their resin costs. They deem saw some pullback in market pricing as it relates to just require and competition.

And as they accelerate into '19, we're seeing similar - there's some announced resin cost increases here in the first quarter, we'll descry if they stick fully, but they expected some of it's going to stick and we've seen some softening in sales prices that started in the fourth quarter and it's really benign of market related and it's what's driving it.

Operator

Our next question comes from Chris Ellinghaus with Williams Capital.

Chris Ellinghaus

Can talk about the Georgia, you'd mentioned that it was profitable in the second half of the year. Are you expecting that trend to continue?

Charles MacFarlane

Yes, they are. They more - dote a 30% extend in volume year-over-year in Georgia. So we've got some leverage there and they continue to descry a respectable backlog at that site. We've continued to ameliorate operationally, then ameliorate dramatically around their on-time delivery and work with a number of customers on pricing, so they anticipate that similar or better results as they had in the terminal six months of '18 going forward into '19.

Chris Ellinghaus

Does that be substantive BTD had some pretty stout revenue growth? Are you expecting particularly with the pass the backlog look, you're expecting another really respectable revenue year there?

Charles MacFarlane

We are definitely expecting an increase, I would say, in the backlog 35% of the allotment cost or 35% to 40% is metal and a lot of these prices that are in the backlog assume metal prices that were probably based on 2018 final quarter and we've seen that drop a little. So the metal impact in the '19 backlog is likely overstated a runt bit, but they outcome anticipate respectable growth in each and every the segments where - there are some of those segments that you're not going to descry that benign of growth.

We stand been awarded programs in the Ag sector that are fresh to us, meaning it's just not higher volume of the same allotment they were making, they are going to be making parts of it that they weren't in previous year. So it's a market participate growth there.

Chris Ellinghaus

Kevin, is the foundation donations that you were talking about, would you anticipate that those would likely linger sort of fourth quarter benign of events?

Kevin Moug

Yes.

Chris Ellinghaus

And lastly, you talked about the competition increasing in plastics a runt bit, is there - was there a lot of slack in capacity that some of your competitors may stand been trying to utilize or Get your utilization higher or what - where is that competition coming from?

Charles MacFarlane

Yes. I mean, I deem that there is a lot of the - some of the larger competition certainly has capacity out there in the - in their plants. Some of that competition is likewise vertically integrated and that there are resin manufacturers and there's always some potential or were there want to stand their profits occur and whether it's at their resin plants or their PVC businesses.

And so they did descry some of that happened and there's been - it's - at least, looks to be continuing into the first quarter here. I mean, we're only a month and a half into the year so far, but they stand seen sales prices benign of continue with those runt bit reduced levels from that were in the fourth quarter.

Operator

Our next question is a follow-up question from Paul Ridzon with KeyBanc.

Paul Ridzon

Just back to the terminal question, the - at BTD, the reduce in metal prices will impact revenues, but shouldn't impact net income?

Kevin Moug

Correct. The metal prices are passed through to the customer, but they outcome note up in the backlog as far as total allotment prices.

Paul Ridzon

Kevin, when you talked about and talks about the '19 electric utility outlook, you said something about O&M and pension, like, I benign of missed that, could you quickly review what you said?

Kevin Moug

Sure. I mean, we're - they expect, in big part, lower O&M at the utility in part, because we're - their discount rate went up on the pension design and their other benefit programs and they had a discount rate of 3.9%, Paul, in 2000 - that they employ for 2018 and then now in 2019, given where interest rates accelerate benign of that terminal half of the year, their discount rate went up to 4.5%.

Paul Ridzon

And should they likewise eye for reduce in O&M, because of the plant outage loss?

Kevin Moug

Yes.

Paul Ridzon

So the O&M line in total should be down? Correct? Is that honest to say?

Kevin Moug

Yes.

Operator

And I'm not showing any further questions on the phone lines.

Charles MacFarlane

Well, thank you for your questions and uphold Otter Tail Corporation. With continued execution on the utility growth projects and stout operational performance in their manufacturing segment, they remain confident in their ability to deliver shareholder value. In 2019, they will focus on continuing to ameliorate BTD profitability and they will further refine the long-term growth strategy for Northern Pipe and Vinyltech and T.O. Plastics, and they will continue to execute on Otter Tail Power's major generation and technology projects. They believe this will allow us to the deliver on their 2019 guidance of $2.10 to $2.25 a share.

Thank you for joining their call. They treasure your interest in Otter Tail Corporation, and they eye forward to a successful 2019.

Operator

Ladies and gentlemen, this does conclude today's presentation. You may now disconnect. And stand a wonderful day.

SeekingAlpha

Black customer said manager of Brooklyn hub restaurant demanded he pay before eating | killexams.com real questions and Pass4sure dumps

See more of the story

A Minneapolis man who is black says he was singled out and asked to pay in forward at a Brooklyn hub buffet, contrary to the restaurant's yardstick practice.

Vanlice "Vii" Washington said that when he visited Ocean Buffet early Saturday afternoon, the Chinese-American manager demanded he pay before getting his food while other customers streamed by him to dine first and pay later.

He was so frustrated, he said, that he called police and posted about the episode on Facebook. It unleashed a convivial media torrent, including a stream of imperfect online reviews for the restaurant on Shingle Creek Parkway.

Washington, a 32-year-old entrepreneur and IT specialist, said he had eaten at the buffet at least 20 times before and was never asked to pay before eating.

"It's so discouraged when minorities discriminate against each other," said Washington, who was born in Liberia and came to the United States as a child.

"We are both immigrants and minorities. It's already difficult enough out there. For them to outcome what they are doing is ridiculous and wrong."

The manager, Fang Chen, said she asked some green customers — including Washington — to pay in forward after having problems with a sequence of "dine and dash" customers. She said she apologized to Washington when he told her he was in his 30s.

"I outcome inquire of green kids to pay first. I already apologized and said I am sorry," said Chen, who added she thought her less-than-perfect English didn't assist the situation. "He was mad at me and he called the police officer."

The restaurant has been receiving mad and sometimes sacrilegious calls, as well as hostile posts on Facebook and online review sites.

"I never told people to boycott the place, but I had to post it," Washington said. "I was so mad because she laughed at me after the cops left."

Brooklyn hub police confirmed that they responded to Washington's convoke around 2 p.m. on Saturday. Officers talked to Washington and the manager and determined it was a civil matter.

Washington said he did sit down and eat, peeling off a $50 bill to pay for the food shortly after he began.

"Sad day for me ... I just lost one of my favorite buffets to ingest at," Washington wrote in his Facebook post on the incident. "The food is quiet respectable but now I just can't ingest here ever again."

Washington said he likewise took a photo of himself at the restaurant to document the incident because he knew doubters would hiss he was "dressed dote a hoodlum."

"It is sad. You stand to cover each and every your bases," he said.

Shannon Prather • 612-673-4804


Otter Tail Corp (OTTR) Q4 2018 Earnings Conference convoke Transcript | killexams.com real questions and Pass4sure dumps

Logo of jester cap with thought bubble.

Image source: The Motley Fool.

Otter Tail Corp  (NASDAQ:OTTR)Q4 2018 Earnings Conference CallFeb. 19, 2019, 11:00 a.m. ET

Contents:
  • Prepared Remarks
  • Questions and Answers
  • Call Participants
  • Prepared Remarks:

    Operator

    Good morning, and welcome to the Otter Tail Corporation's 2018 Year-End Earnings Conference Call. Today's convoke is being recorded, and they will hold a question-and-answer session after the prepared remarks. I will now whirl the convoke over to the company for their opening comments.

    Loren Hanson -- second Secretary, Treasurer & Manager of Investor Relations

    Good morning, everyone, and welcome to their call. My designation is Loren Hanson and I manage Otter Tail Investor Relations Area.

    Last night, they announced their 2018 year-end results and their 2019 earnings per participate guidance range. Their complete earnings release and slides accompanying this convoke are available on their website at ottertail.com. A replay of the convoke will be available on their website later today.

    With me on the convoke today are, Chuck MacFarlane, Otter Tail Corporation's President and CEO; and Kevin Moug, Otter Tail Corporation's Senior Vice President and Chief monetary Officer.

    Before they begin, I want to remind you that they will be making forward-looking statements during this call. As renowned on skid two, these statements limn their current judgment or view of what the future holds. They are theme to risks and uncertainties that may cause actual results to disagree materially. So gratify be advised about placing undue reliance on any of these statements. Their forward-looking statements are described in more detail in their filings with the Securities and Exchange Commission, which they embolden you to review. Otter Tail Corporation disclaims any duty to update or revise their forward-looking statements due to fresh information, future events, developments or otherwise.

    For opening remarks, I will now whirl the convoke over to Otter Tail Corporation's President and CEO, Mr. Chuck MacFarlane.

    Charles MacFarlane -- President & Chief Executive Officer

    Thank you, Loren; and respectable morning, everyone. terminal night, they released their 2018 results. gratify mention to skid five as I inaugurate my comments. Earnings per participate were $2.06, which is above the midpoint of their updated 2018 earnings guidance of $2 to $2.10.

    Our stock performed well. For the three years ending 2018, Otter Tail Corporation ranked number one in total shareholder return in the EEI index of investor-owned electric utilities. Total shareholder return has grown at a compound annual rate of 15.3% over the past five years. The dividend yield at year-end was 2.7%.

    Some of their Otter Tail Power's 2018 accomplishments include: The North Dakota Public Service Commission granularity of power and overall revenue extend of $4.6 million or 3.1% with a return on equity of 9.77%. Final rates went into outcome February 1, 2019. They implemented interim rates in South Dakota. Interim rates, which are theme to refund, remain in location until the Public Utilities Commission makes a conclusion on their request to extend non-fuel rates by approximately $3.3 million or 10.1%. The Commission will likewise select on the second step in their request, which is an additional 1.7% to recover costs for the proposed Merricourt wind generation facility when it goes into service.

    We completed straining the grandiose Stone South-Ellendale 345 kV regional transmission project in 2018 and energized the line in early February of 2019. Their participate of the cost for this project was $115 million, because this is a MISO multi-value project, which allows cost recovery from each and every customers who benefit from the line. Their customers will pay less than 1% of the project costs.

    In 2019, Otter Tail Power will likewise enhance transmission infrastructure in their Southeastern/South Dakota service territory, providing an approximate $39 million investment that will ameliorate reliability and provide increased capacity for customers in the southern cease of their service territory.

    In the fourth quarter and into 2019, they continue to work through the MISO generator interconnection process for the Merricourt wind generation projects, which will be Otter Tail's largest capital investment at $270 million. They evaluate the project construction will began in July of 2019 with an expected commercial operation in the third quarter of 2020.

    South Dakota Public Utilities Commission approved the site permit for the $165 million Astoria Station natural gas generation project. And the North Dakota PSC approve the project for rider recovery in their recent North Dakota rate case. They will inaugurate construction in 2019 and expect to be operational by March 2021. These and other investments will produce an annual growth rate of 8% in their rate ground between 2018 and 2023 in a constructive regulatory environment.

    The Minnesota Public Utilities Commission approved a one-year extension to June 1, 2020, for the filing of their next resource plan. Two key environmental regulations that may impact their modeling are the regional haze rule and the proposed affordable cleanly energy rules. Delaying their filing one year will allow us to reckon the outcomes of these environmental regulations and develop a more informed resource plan.

    In August, they published their ESG Sustainability Report, which gives investors and others insight into their environmental, convivial and governance commitments. On skid 15 through 17, you'll descry highlights from their report and a glimpse into how their electric utilities plant and service and resource blend are evolving due to significant investments in low cost renewable energy and transmission that enables regional wind development.

    Last, but certainly not least, February 4, 2019, marked the official go-live date for their fresh Customer Information System. This 37-month project is their biggest system upgrade in the generation. I'm disdainful of the project team for its result throughout the project and for executing a seamless cutover design to assist ensure continued customer satisfaction.

    I'd likewise dote to give special recognition to Coyote Station in North Dakota for achieving two milestones. By year-end, the plant exceeded 3 million megawatt hours produced, the second highest yearly generation amount in the plants 38-year history and crossed over the 3 million manhour without a loss time incident. The plants terminal loss time incident occurred 18 years ago. Congratulations to Coyote Station employees for these significant accomplishments and thank you to each and every of their employees for continuing to establish safety first.

    Our manufacturing companies likewise experienced notable accomplishments in 2018. BTD their compress metal fabricator and largest manufacturing traffic increased sales by 19% in 2018 and the Georgia location is profitable in the terminal half of the year. The company achieved this while reporting its lowest OSHA rate and highest on-time delivery in history.

    T.O. Plastics celebrated its 70th anniversary in 2018 and achieved 6% overall sales growth and a 29% extend in earnings, driven mostly by lower income tax rates. The company's horticulture segment continues to grow through key account relationships and fresh product launches.

    Northern Pipe Products and Vinyltech had an exceptional year supported by stout market require and prices, and continued excellent operational performance. They positively contributed to earnings, while remaining highly competitive. Both companies continue to prove -- ameliorate in the markets they serve by demonstrating flexibility and responsiveness to customer needs. We're targeting additional organic volume growth in these companies in 2019.

    Employees across their organization are aligned with their growth strategy, which includes capital investment, continued improvement in operations and talent development. It's with much appreciation that I congratulate them on a job well done in 2018. In 2019, they will continue to execute on utility rate ground growth and create additional organic growth in the manufacturing businesses.

    Now, I'll whirl it over to Kevin for the monetary perspective.

    Kevin Moug -- Senior Vice President & Chief monetary Officer

    Well, thank you, Chuck; and respectable morning, everyone. I will cover the following items: their 2018 monetary results; their liquidity position; the might equipoise sheet and corporate credit ratings; the extend in their 2019 indicated annual dividend; their five-year capital expenditure design and their 2019 traffic outlook.

    We are pleased with their stout 2018 monetary performance. Revenues grew approximately 8% and earnings grew approximately 14% with each and every their reporting segments showing year-over-year increases in revenues and earnings. They earned $2.06 per share, which compared with $1.82 per participate terminal year.

    Our 2018 return on equity was 11.5% on an equity ratio of 54.5%. Their two platform strategy continues to deliver higher returns on equity on a higher equity layer when compared to holding company peers.

    Let me now provide an overview of 2018 earnings by segment, as shown on slides 20 and 21. Electric segment net earnings increased $5 million year-over-year. Key drivers involve increased revenues due to more benign weather, year-over-year earnings improved by $0.11 a participate due to the weather and compared to common weather was benign by $0.07 a share, increased revenues due to interim rates associated with their North Dakota generic rate case, net of estimated refunds, which was implemented in January of 2018, interim rates associated with their South Dakota rate case went into outcome in October of 2018, increased renewable resource, rider revenues in Minnesota and North Dakota, and increased Minnesota SIP revenues.

    These items were partially offset by a $9.6 million reduction in revenues related to a provision for refunds to recognize that current retail rates in their service zone and FERC approved transmission tariffs, their recovering federal income taxes in excess of lower rates under tax reform, lower North Dakota environmental cost recovery rider revenue due to the impact from lower tax rates, a reduction in the return on equity component of the rider in the lower investment equipoise theme to recovery from depreciation. For their North Dakota and South Dakota transmission costs recovery riders due to the impact of lower tax rate and reduced transmission costs. Other items impacting the segment's earnings were higher operating and maintenance, property tax and depreciation expenses.

    We did stand a scheduled maintenance outage in 2018 at their grandiose Stone plant that cost $2.9 million. They don't stand any planned maintenance outages in 2019.

    In income tax, expense was lower in 2018, mainly due to the reduction in federal corporate tax rates from 35% to 21% and the reversal of excess deferred taxes.

    Net earnings for the Manufacturing segment increased $1.8 million year-over-year. Key elements of this improvement are as follows: BTD's revenues increased $36.8 million, of which $33.8 million came from increased product sales to each and every its major cease markets, $12.7 million of this extend relates to higher material costs that were passed through to customers with the equipoise due to increased sales and improved pricing. BTD's scrap metal revenues likewise increased due to higher volumes and higher scrap sales prices. These increases were offset in allotment by higher cost of goods sold and operating expenses, and higher income taxes due to the elimination of the Section 199 deduction, which was eliminated in 2018 and the writedown of deferred tax liabilities in 2017, which lowered terminal year's income tax expense. These items resulted in a $1.2 million extend in BTD's year-over-year earnings.

    T.O. Plastics revenues improved $1.9 million, mainly due to increased sales of horticultural containers. The increased revenues were partially offset by higher cost of goods sold, labor, freight and operating expenses. Earnings before taxes increased slightly year-over-year, however due to a lower tax rate earnings improved $600,000 at T.O. Plastics.

    The Plastics segment's earnings increased $2.1 million year-over-year as a result of a 9.4% extend in PVC pipe prices, a 2.3% reduce in pounds of pipe sold. The extend in sales prices more than offset higher cost of goods per pound sold and lower sales volumes. The net impact of these items resulted in an 11.3% improvement in vulgar margins. Sales volumes were lower in the terminal four months of 2018 compared with the same time era in 2017, primarily due to the increased sales from hurricane-related impacts in the Gulf Coast region. Those dynamics favorably impacted earnings by an estimated $0.09 a participate in 2017, and the benign variance due to tax reform was offset by a loss of the Section 199 deduction in 2018 (technical difficulty) lower tax expense in 2017 from a $3.3 million reduction in deferred tax liabilities due to tax reform.

    Our corporate expenses before taxes increased $4 million year-over-year, primarily due to an extend in charitable contributions due to the establishment of the Otter Tail Corporation Charitable Foundation in 2018, the extend in employee benefit costs and in other corporate costs. They realized the $5 million net extend in tax savings in the corporate costs hub in 2018, primarily due to the writedown of deferred tax assets in 2017 from tax reform. This was offset by an extend in tax expense, mostly related to uncertain tax positions and the establishment of a valuation allowance on the recoverability of certain condition net operating losses. And they experienced a reduction in tax savings as a result of the federal tax rate change. The net result of their lease items was $1 million year-over-year reduction in corporate expense.

    Moving to skid 22, let's review their monetary condition and liquidity. terminal year, they had no equity financing activity and don't expect any equity issuances in 2019. Their two credit agreements are in location until October 31 of 2023 between expected cash flux generated from 2019 operating activities and these credit facilities. They stand the confiscate levels of liquidity to uphold both of their traffic platforms. They currently expect to outcome a private placement of debt at Otter Tail Power Company in the sweep of $150 million to $170 million during the terminal half of 2019 in connection with their rate ground growth. And, in 2018, each and every three rating agencies affirmed Otter Tail Corporation and Otter Tail Power's ratings and outlook. And they remain committed to maintaining investment grade credit ratings and we'll manage their operations to reflect that commitment.

    As shown on skid 24, the Board of Directors increased their indicated annualized dividend rate from $1.34 per participate to $1.40 per share. This 4.5% extend is a result of their solid 2018 performance and their 2019 outlook, the company's stout equipoise sheet, liquidity, cash generation profile and their commitment to enhancing shareholder returns. They expect future dividend increases to be in line with earnings growth, while maintaining a targeted payout ratio in the sweep of 60% to 70% and they stand paid dividends on their stock for 80 years for 321 consecutive quarters.

    Slide 25 highlights their capital expenditure plans for the 2019 through 2023 timeframe. They expect capital expenditures for 2019 to be $203 million. Planned expenditures for this year includes $61 million for the Merricourt wind project and $40 million for the Astoria Station natural gas-fired plant. These investments will continue to positively impact the Corporation's earnings and returns on capital.

    The five-year capital design calls for approximately $973 million in utility projects, 45% of this capital disburse will be recovered through riders. The design likewise includes $97 million for the manufacturing and plastics businesses. In their updated compounded annual growth rate in rate ground over the 2018 through 2023 timeframe is projected to be 8%, using 2018 as the ground year.

    Slide 26 reflects their 2019 consolidated earnings per participate guidance of $2.10 to $2.25. This guidance includes their strategies for improving future results, the cyclical nature of the manufacturing businesses as well as current regulatory factors facing their electric segment. Their electric segment's 2019 net income is expected to be higher than 2018 based on constructive outcome in the South Dakota rate case, increased AFUDC for planned capital projects, including Merricourt wind project in the Astoria natural gas plant, along with increased revenues from the North Dakota generation cost recovery rider on the Astoria Station. Increased revenues from the completion of the grandiose Stone South-Ellendale project and additional transmission investments related to their South Dakota transmission reliability project, decreased operating and maintenance expenses due to a reduce in pension medical workers' compensation and retiree medical benefits, their discount rate is increasing in 2019 to 4.5% from 3.9%, driven by the increasing interest rate environment. These items are offset by common weather. Weather favorably impacted their 2018 earnings per participate by $0.07 compared to normal.

    Higher property tax and depreciation expense due to larger transmission projects being establish into service. They expect increased earnings from their manufacturing segment in 2019 due to increased sales at BTD and the recreational vehicle, lawn and garden and agricultural cease markets, likewise increased scrap revenues due to stronger sales volumes, the Increased earnings at T.O. Plastics, primarily driven by increased sales in horticultural life science and industrial cease markets. The backlog for this segment is approximately $211 million for 2019 compared with $166 million a year ago.

    We expect Plastics' 2019 net income to be lower than 2018. They are expecting lower operating margins due to increasing resin prices and slightly higher sales volumes compared to terminal year.

    In corporate costs, net of tax are expected to be lower in 2019.

    Our current earnings guidance for 2019 reflect 68% of their earnings from their electric segment and 32% of their earnings from their manufacturing and plastics segments. This compares with 66% and 34%, respectively, in 2018. The extend in the electric earnings blend is being driven by the rate ground growth related to Merricourt, Astoria and South Dakota reliability projects. They expect the long-term earnings blend to continue to accelerate back in line with 75% of earnings from their electric segment and 25% of their manufacturing and plastics segments net of unallocated corporate costs. This will be driven by the capital plan, which calls for approximately 91% of their capital disburse over the 2019 through 2023 timeframe to be in the electric segment. They believe their 2019 guidance further positions us to achieve a 5% to 7% compounded annual growth rate in earnings per participate using 2018's $2.06 a share.

    Our 2019 guidance is dependent on the traffic and the economic challenges their two platforms will face this year. For the utility, key drivers involve constructive outcome in the South Dakota rate case and successful execution of their rate ground growth projects. For BTD, key drivers involve continued operational improvements across each and every locations to further ameliorate their return on sales margins. And while earnings are expected to decline in 2019 for Plastics, this segment continues to be a stout complement to their portfolio by providing stout earnings, cash flows to uphold their dividend and returns on invested capital.

    We are now ready to occupy your questions.

    Questions and Answers:

    Operator

    (Operator Instructions) Their first question comes from Paul Ridzon with KeyBanc.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Good morning. How are you?

    Charles MacFarlane -- President & Chief Executive Officer

    Good morning, Paul.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Could you give just some background on this charitable contribution and what they should eye for going forward?

    Charles MacFarlane -- President & Chief Executive Officer

    Sure, Paul. I treasure the question. They have, for a number of year, been considering establishing the foundation for, well, both Otter Tail Corporation and then they likewise stand established one for the Otter Tail Power Company as well. And they wanted to, in 2018, certainly assist Get the foundations off on the prerogative foot with the respectable commitment to fund those organizations going forward, and so you descry a probably a much healthier contribution made for the Otter Tail Power -- I'm sorry the Otter Tail Corporation foundation in that $2 million amount, the Power Company is a $0.5 million.

    And as they benign of eye forward, I would divulge you that future contributions are ultimately theme to the success, the monetary success that we're having at both of the entities, but in the utility we're looking for the future benign of range, I would say, in that $2 million to $500,000 sweep on a go-forward basis and at the parent company depending on results you could see, I suppose, in a sweep of $300,000 to $600,000 a year.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    So '18 was just benign of getting this -- the censorious mass.

    Charles MacFarlane -- President & Chief Executive Officer

    Yes.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    And then relative to your EEI data, it looks dote some CapEx moved from '19 to '20, can you give a runt more detail there?

    Charles MacFarlane -- President & Chief Executive Officer

    Sure. The movement, Paul, relates to the Astoria -- Merricourt. The movement is the Merricourt project when you -- in terms of what you -- they saw at EEI and then what they descry now, we've seen a bit of a shove back in the timing of the Merricourt project. And so basically the project isn't going away. It's just a movement of dollars from '19 into '20.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Got it, OK. So everything fundamentally quiet the same, just the timing shift?

    Charles MacFarlane -- President & Chief Executive Officer

    Yup.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    And then I know I inquire of this every call, but pressures you're seeing maybe from the benefit of tax reform being competitively reduced in the manufacturing segments?

    Charles MacFarlane -- President & Chief Executive Officer

    Paul, they just haven't seen that. With pair of their -- as they talk about in the press release and in my comments, they were actually -- they saw cost uplift from some of their customers in 2019 both in benign of across the board at BTD and T.O. Plastics. They were able to Get cost increases in location with customers where they thought it was confiscate and needed. They haven't had any shove back from customers looking for benign of a reduction in pricing, because of the tax savings were picking up in the manufacturing businesses. It doesn't be substantive that it couldn't happen, but they certainly are seeing any of that and of course they actually stand -- they could be looking for the same things on their supply side as well when they negotiate their prices with their supply ground and given the PVC commodity nature of that traffic prices were up in 2018 in the PVC pipe traffic and that was really a reflective of market conditions. We're seeing some softening of prices they saw that in the fourth quarter and as they head into '19, but it's really more market driven that it is having anything to outcome with tax reform.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    What's driving that softening in the market?

    Charles MacFarlane -- President & Chief Executive Officer

    I deem that there -- they as they went through '18, they saw much stronger prices than they expected. Now, as they head into the -- they completed the fourth quarter, they saw some uplift in their resin costs. They deem saw some pullback in market pricing as it relates to just require and competition. And as they accelerate into '19, we're seeing similar -- there's some announced resin cost increases here in the first quarter, we'll descry if they stick fully, but they expected some of it's going to stick and we've seen some softening in sales prices that started in the fourth quarter and it's really benign of market related and it's what's driving it.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Okay. Thank you very much.

    Charles MacFarlane -- President & Chief Executive Officer

    Thanks, Paul.

    Operator

    Our next question comes from Chris Ellinghaus with Williams Capital.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Hey, guys. respectable morning.

    Charles MacFarlane -- President & Chief Executive Officer

    Hi, Chris. respectable morning, Chris.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Can talk about the Georgia, you'd mentioned that it was profitable in the second half of the year. Are you expecting that trend to continue?

    Charles MacFarlane -- President & Chief Executive Officer

    Thanks for the question, Chris. Yes, they are. They more -- dote a 30% extend in volume year-over-year in Georgia. So we've got some leverage there and they continue to descry a respectable backlog at that site. We've continued to ameliorate operationally, then ameliorate dramatically around their on-time delivery and work with a number of customers on pricing, so they anticipate that similar or better results as they had in the terminal six months of '18 going forward into '19.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Does that be substantive BTD had some pretty stout revenue growth? Are you expecting particularly with the pass the backlog look, you're expecting another really respectable revenue year there?

    Charles MacFarlane -- President & Chief Executive Officer

    We are definitely expecting an increase, I would say, in the backlog 35% of the allotment cost or 35% to 40% is metal and a lot of these prices that are in the backlog assume metal prices that were probably based on 2018 final quarter and we've seen that drop a little. So the metal impact in the '19 backlog is likely overstated a runt bit, but they outcome anticipate respectable growth in each and every the segments where -- there are some of those segments that you're not going to descry that benign of growth. They stand been awarded programs in the Ag sector that are fresh to us, meaning it's just not higher volume of the same allotment they were making, they are going to be making parts of it that they weren't in previous year. So it's a market participate growth there.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Okay. Kevin, is the foundation donations that you were talking about, would you anticipate that those would likely linger sort of fourth quarter benign of events?

    Kevin Moug -- Senior Vice President & Chief monetary Officer

    Yes.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Okay. And lastly, you talked about the competition increasing in plastics a runt bit, is there -- was there a lot of slack in capacity that some of your competitors may stand been trying to utilize or Get your utilization higher or what -- where is that competition coming from?

    Charles MacFarlane -- President & Chief Executive Officer

    Yeah. I mean, I deem that there is a lot of the -- some of the larger competition certainly has capacity out there in the -- in their plants. Some of that competition is likewise vertically integrated and that there are resin manufacturers and there's always some potential or were there want to stand their profits occur and whether it's at their resin plants or their PVC businesses. And so they did descry some of that happened and there's been -- it's -- at least, looks to be continuing into the first quarter here. I mean, we're only a month and a half into the year so far, but they stand seen sales prices benign of continue with those runt bit reduced levels from that were in the fourth quarter.

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    Okay. Thanks for the details, guys. I treasure it.

    Charles MacFarlane -- President & Chief Executive Officer

    You're welcome.

    Operator

    Our next question is a follow-up question from Paul Ridzon with KeyBanc.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Just back to the terminal question, the -- at BTD, the reduce in metal prices will impact revenues, but shouldn't impact net income?

    Kevin Moug -- Senior Vice President & Chief monetary Officer

    Correct. The metal prices are passed through to the customer, but they outcome note up in the backlog as far as total allotment prices.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Kevin, when you talked about and talks about the '19 electric utility outlook, you said something about O&M and pension, like, I benign of missed that, could you quickly review what you said?

    Kevin Moug -- Senior Vice President & Chief monetary Officer

    Sure. I mean, we're -- they expect, in big part, lower O&M at the utility in part, because we're -- their discount rate went up on the pension design and their other benefit programs and they had a discount rate of 3.9%, Paul, in 2000 -- that they employ for 2018 and then now in 2019, given where interest rates accelerate benign of that terminal half of the year, their discount rate went up to 4.5%.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    And should they likewise eye for reduce in O&M, because of the plant outage loss?

    Kevin Moug -- Senior Vice President & Chief monetary Officer

    Yes. Yup.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    So the O&M line in total should be down? Correct? Is that honest to say?

    Kevin Moug -- Senior Vice President & Chief monetary Officer

    Yes.

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Okay. Thank you very much for the clarification.

    Operator

    And I'm not showing any further questions on the phone lines.

    Charles MacFarlane -- President & Chief Executive Officer

    Well, thank you for your questions and uphold Otter Tail Corporation. With continued execution on the utility growth projects and stout operational performance in their manufacturing segment, they remain confident in their ability to deliver shareholder value. In 2019, they will focus on continuing to ameliorate BTD profitability and they will further refine the long-term growth strategy for Northern Pipe and Vinyltech and T.O. Plastics, and they will continue to execute on Otter Tail Power's major generation and technology projects. They believe this will allow us to the deliver on their 2019 guidance of $2.10 to $2.25 a share.

    Thank you for joining their call. They treasure your interest in Otter Tail Corporation, and they eye forward to a successful 2019.

    Operator

    Ladies and gentlemen, this does conclude today's presentation. You may now disconnect, and stand a wonderful day.

    Duration: 38 minutes

    Call participants:

    Loren Hanson -- second Secretary, Treasurer & Manager of Investor Relations

    Charles MacFarlane -- President & Chief Executive Officer

    Kevin Moug -- Senior Vice President & Chief monetary Officer

    Paul Ridzon -- Key Banc Capital Markets -- Analyst

    Christopher Ellinghaus -- The Williams Capital Group -- Analyst

    More OTTR analysis

    Transcript powered by AlphaStreet

    This article is a transcript of this conference convoke produced for The Motley Fool. While they strive for their preposterous Best, there may be errors, omissions, or inaccuracies in this transcript. As with each and every their articles, The Motley Fool does not assume any responsibility for your employ of this content, and they strongly embolden you to outcome your own research, including listening to the convoke yourself and reading the company's SEC filings. gratify descry their Terms and Conditions for additional details, including their Obligatory Capitalized Disclaimers of Liability.

    Motley Fool Transcribers has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.



    Direct Download of over 5500 Certification Exams

    3COM [8 Certification Exam(s) ]
    AccessData [1 Certification Exam(s) ]
    ACFE [1 Certification Exam(s) ]
    ACI [3 Certification Exam(s) ]
    Acme-Packet [1 Certification Exam(s) ]
    ACSM [4 Certification Exam(s) ]
    ACT [1 Certification Exam(s) ]
    Admission-Tests [13 Certification Exam(s) ]
    ADOBE [93 Certification Exam(s) ]
    AFP [1 Certification Exam(s) ]
    AICPA [2 Certification Exam(s) ]
    AIIM [1 Certification Exam(s) ]
    Alcatel-Lucent [13 Certification Exam(s) ]
    Alfresco [1 Certification Exam(s) ]
    Altiris [3 Certification Exam(s) ]
    Amazon [2 Certification Exam(s) ]
    American-College [2 Certification Exam(s) ]
    Android [4 Certification Exam(s) ]
    APA [1 Certification Exam(s) ]
    APC [2 Certification Exam(s) ]
    APICS [2 Certification Exam(s) ]
    Apple [69 Certification Exam(s) ]
    AppSense [1 Certification Exam(s) ]
    APTUSC [1 Certification Exam(s) ]
    Arizona-Education [1 Certification Exam(s) ]
    ARM [1 Certification Exam(s) ]
    Aruba [6 Certification Exam(s) ]
    ASIS [2 Certification Exam(s) ]
    ASQ [3 Certification Exam(s) ]
    ASTQB [8 Certification Exam(s) ]
    Autodesk [2 Certification Exam(s) ]
    Avaya [96 Certification Exam(s) ]
    AXELOS [1 Certification Exam(s) ]
    Axis [1 Certification Exam(s) ]
    Banking [1 Certification Exam(s) ]
    BEA [5 Certification Exam(s) ]
    BICSI [2 Certification Exam(s) ]
    BlackBerry [17 Certification Exam(s) ]
    BlueCoat [2 Certification Exam(s) ]
    Brocade [4 Certification Exam(s) ]
    Business-Objects [11 Certification Exam(s) ]
    Business-Tests [4 Certification Exam(s) ]
    CA-Technologies [21 Certification Exam(s) ]
    Certification-Board [10 Certification Exam(s) ]
    Certiport [3 Certification Exam(s) ]
    CheckPoint [41 Certification Exam(s) ]
    CIDQ [1 Certification Exam(s) ]
    CIPS [4 Certification Exam(s) ]
    Cisco [318 Certification Exam(s) ]
    Citrix [48 Certification Exam(s) ]
    CIW [18 Certification Exam(s) ]
    Cloudera [10 Certification Exam(s) ]
    Cognos [19 Certification Exam(s) ]
    College-Board [2 Certification Exam(s) ]
    CompTIA [76 Certification Exam(s) ]
    ComputerAssociates [6 Certification Exam(s) ]
    Consultant [2 Certification Exam(s) ]
    Counselor [4 Certification Exam(s) ]
    CPP-Institue [2 Certification Exam(s) ]
    CPP-Institute [1 Certification Exam(s) ]
    CSP [1 Certification Exam(s) ]
    CWNA [1 Certification Exam(s) ]
    CWNP [13 Certification Exam(s) ]
    Dassault [2 Certification Exam(s) ]
    DELL [9 Certification Exam(s) ]
    DMI [1 Certification Exam(s) ]
    DRI [1 Certification Exam(s) ]
    ECCouncil [21 Certification Exam(s) ]
    ECDL [1 Certification Exam(s) ]
    EMC [129 Certification Exam(s) ]
    Enterasys [13 Certification Exam(s) ]
    Ericsson [5 Certification Exam(s) ]
    ESPA [1 Certification Exam(s) ]
    Esri [2 Certification Exam(s) ]
    ExamExpress [15 Certification Exam(s) ]
    Exin [40 Certification Exam(s) ]
    ExtremeNetworks [3 Certification Exam(s) ]
    F5-Networks [20 Certification Exam(s) ]
    FCTC [2 Certification Exam(s) ]
    Filemaker [9 Certification Exam(s) ]
    Financial [36 Certification Exam(s) ]
    Food [4 Certification Exam(s) ]
    Fortinet [13 Certification Exam(s) ]
    Foundry [6 Certification Exam(s) ]
    FSMTB [1 Certification Exam(s) ]
    Fujitsu [2 Certification Exam(s) ]
    GAQM [9 Certification Exam(s) ]
    Genesys [4 Certification Exam(s) ]
    GIAC [15 Certification Exam(s) ]
    Google [4 Certification Exam(s) ]
    GuidanceSoftware [2 Certification Exam(s) ]
    H3C [1 Certification Exam(s) ]
    HDI [9 Certification Exam(s) ]
    Healthcare [3 Certification Exam(s) ]
    HIPAA [2 Certification Exam(s) ]
    Hitachi [30 Certification Exam(s) ]
    Hortonworks [4 Certification Exam(s) ]
    Hospitality [2 Certification Exam(s) ]
    HP [750 Certification Exam(s) ]
    HR [4 Certification Exam(s) ]
    HRCI [1 Certification Exam(s) ]
    Huawei [21 Certification Exam(s) ]
    Hyperion [10 Certification Exam(s) ]
    IAAP [1 Certification Exam(s) ]
    IAHCSMM [1 Certification Exam(s) ]
    IBM [1532 Certification Exam(s) ]
    IBQH [1 Certification Exam(s) ]
    ICAI [1 Certification Exam(s) ]
    ICDL [6 Certification Exam(s) ]
    IEEE [1 Certification Exam(s) ]
    IELTS [1 Certification Exam(s) ]
    IFPUG [1 Certification Exam(s) ]
    IIA [3 Certification Exam(s) ]
    IIBA [2 Certification Exam(s) ]
    IISFA [1 Certification Exam(s) ]
    Intel [2 Certification Exam(s) ]
    IQN [1 Certification Exam(s) ]
    IRS [1 Certification Exam(s) ]
    ISA [1 Certification Exam(s) ]
    ISACA [4 Certification Exam(s) ]
    ISC2 [6 Certification Exam(s) ]
    ISEB [24 Certification Exam(s) ]
    Isilon [4 Certification Exam(s) ]
    ISM [6 Certification Exam(s) ]
    iSQI [7 Certification Exam(s) ]
    ITEC [1 Certification Exam(s) ]
    Juniper [64 Certification Exam(s) ]
    LEED [1 Certification Exam(s) ]
    Legato [5 Certification Exam(s) ]
    Liferay [1 Certification Exam(s) ]
    Logical-Operations [1 Certification Exam(s) ]
    Lotus [66 Certification Exam(s) ]
    LPI [24 Certification Exam(s) ]
    LSI [3 Certification Exam(s) ]
    Magento [3 Certification Exam(s) ]
    Maintenance [2 Certification Exam(s) ]
    McAfee [8 Certification Exam(s) ]
    McData [3 Certification Exam(s) ]
    Medical [69 Certification Exam(s) ]
    Microsoft [374 Certification Exam(s) ]
    Mile2 [3 Certification Exam(s) ]
    Military [1 Certification Exam(s) ]
    Misc [1 Certification Exam(s) ]
    Motorola [7 Certification Exam(s) ]
    mySQL [4 Certification Exam(s) ]
    NBSTSA [1 Certification Exam(s) ]
    NCEES [2 Certification Exam(s) ]
    NCIDQ [1 Certification Exam(s) ]
    NCLEX [2 Certification Exam(s) ]
    Network-General [12 Certification Exam(s) ]
    NetworkAppliance [39 Certification Exam(s) ]
    NI [1 Certification Exam(s) ]
    NIELIT [1 Certification Exam(s) ]
    Nokia [6 Certification Exam(s) ]
    Nortel [130 Certification Exam(s) ]
    Novell [37 Certification Exam(s) ]
    OMG [10 Certification Exam(s) ]
    Oracle [279 Certification Exam(s) ]
    P&C [2 Certification Exam(s) ]
    Palo-Alto [4 Certification Exam(s) ]
    PARCC [1 Certification Exam(s) ]
    PayPal [1 Certification Exam(s) ]
    Pegasystems [12 Certification Exam(s) ]
    PEOPLECERT [4 Certification Exam(s) ]
    PMI [15 Certification Exam(s) ]
    Polycom [2 Certification Exam(s) ]
    PostgreSQL-CE [1 Certification Exam(s) ]
    Prince2 [6 Certification Exam(s) ]
    PRMIA [1 Certification Exam(s) ]
    PsychCorp [1 Certification Exam(s) ]
    PTCB [2 Certification Exam(s) ]
    QAI [1 Certification Exam(s) ]
    QlikView [1 Certification Exam(s) ]
    Quality-Assurance [7 Certification Exam(s) ]
    RACC [1 Certification Exam(s) ]
    Real-Estate [1 Certification Exam(s) ]
    RedHat [8 Certification Exam(s) ]
    RES [5 Certification Exam(s) ]
    Riverbed [8 Certification Exam(s) ]
    RSA [15 Certification Exam(s) ]
    Sair [8 Certification Exam(s) ]
    Salesforce [5 Certification Exam(s) ]
    SANS [1 Certification Exam(s) ]
    SAP [98 Certification Exam(s) ]
    SASInstitute [15 Certification Exam(s) ]
    SAT [1 Certification Exam(s) ]
    SCO [10 Certification Exam(s) ]
    SCP [6 Certification Exam(s) ]
    SDI [3 Certification Exam(s) ]
    See-Beyond [1 Certification Exam(s) ]
    Siemens [1 Certification Exam(s) ]
    Snia [7 Certification Exam(s) ]
    SOA [15 Certification Exam(s) ]
    Social-Work-Board [4 Certification Exam(s) ]
    SpringSource [1 Certification Exam(s) ]
    SUN [63 Certification Exam(s) ]
    SUSE [1 Certification Exam(s) ]
    Sybase [17 Certification Exam(s) ]
    Symantec [134 Certification Exam(s) ]
    Teacher-Certification [4 Certification Exam(s) ]
    The-Open-Group [8 Certification Exam(s) ]
    TIA [3 Certification Exam(s) ]
    Tibco [18 Certification Exam(s) ]
    Trainers [3 Certification Exam(s) ]
    Trend [1 Certification Exam(s) ]
    TruSecure [1 Certification Exam(s) ]
    USMLE [1 Certification Exam(s) ]
    VCE [6 Certification Exam(s) ]
    Veeam [2 Certification Exam(s) ]
    Veritas [33 Certification Exam(s) ]
    Vmware [58 Certification Exam(s) ]
    Wonderlic [2 Certification Exam(s) ]
    Worldatwork [2 Certification Exam(s) ]
    XML-Master [3 Certification Exam(s) ]
    Zend [6 Certification Exam(s) ]





    References :


    Dropmark : http://killexams.dropmark.com/367904/11803699
    Wordpress : http://wp.me/p7SJ6L-1KE
    Dropmark-Text : http://killexams.dropmark.com/367904/12567143
    Blogspot : http://killexamsbraindump.blogspot.com/2017/12/kill-your-920-164-exam-at-first-attempt.html
    RSS Feed : http://feeds.feedburner.com/JustStudyTheseNortel920-164QuestionsAndPassTheRealTest
    Box.net : https://app.box.com/s/w3ntnxhu7nch8oracnu0aaz0bd78e8ou






    Back to Main Page





    Killexams 920-164 exams | Killexams 920-164 cert | Pass4Sure 920-164 questions | Pass4sure 920-164 | pass-guaratee 920-164 | best 920-164 test preparation | best 920-164 training guides | 920-164 examcollection | killexams | killexams 920-164 review | killexams 920-164 legit | kill 920-164 example | kill 920-164 example journalism | kill exams 920-164 reviews | kill exam ripoff report | review 920-164 | review 920-164 quizlet | review 920-164 login | review 920-164 archives | review 920-164 sheet | legitimate 920-164 | legit 920-164 | legitimacy 920-164 | legitimation 920-164 | legit 920-164 check | legitimate 920-164 program | legitimize 920-164 | legitimate 920-164 business | legitimate 920-164 definition | legit 920-164 site | legit online banking | legit 920-164 website | legitimacy 920-164 definition | >pass 4 sure | pass for sure | p4s | pass4sure certification | pass4sure exam | IT certification | IT Exam | 920-164 material provider | pass4sure login | pass4sure 920-164 exams | pass4sure 920-164 reviews | pass4sure aws | pass4sure 920-164 security | pass4sure cisco | pass4sure coupon | pass4sure 920-164 dumps | pass4sure cissp | pass4sure 920-164 braindumps | pass4sure 920-164 test | pass4sure 920-164 torrent | pass4sure 920-164 download | pass4surekey | pass4sure cap | pass4sure free | examsoft | examsoft login | exams | exams free | examsolutions | exams4pilots | examsoft download | exams questions | examslocal | exams practice |

    www.pass4surez.com | Braindumps Download | www.search4exams.com | http://www.sraigalleries.com/