Now as we explained in our earnings release, the adjusted results exclude the impact of the pretax charge of $281 million in this quarter and $166 million in the prior year period related to the devaluations of the Venezuelan bolivar. And third, we …

Gross margin was negatively affected by the devaluation of the Russian ruble, as well as by less favorable hedging rates. Taking the translational and transactional affects of currency together, we estimate that these impacts …. In Western Europe …

“Its labor force also remains very competitive versus Europe.” Some of … And the more a country borrows, the more its currency comes under pressure, leading in some cases to a rapid and economically devastating devaluation — a balance of payments …

In addition, within this release, including the tables attached hereto, reference is made to adjusted diluted earnings per share and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). … Inc., and from other bolt-on …

… the competitive nature of our business; — regulatory matters governing our products, including potential governmental or regulatory actions concerning the safety or efficacy of our products and network marketing program, including the direct …

Net sales, however, is expected to decrease due to currency devaluations and a weaker sales mix in Russia and CIS. Nokian Tyres continues to have competitive advantages from having manufacturing inside Russia. Of the Russian production 55% is …

“It's been going on for decades but they are really testing it to destruction as there has been competitive devaluation going on across the globe.” “That puts pressure on the emerging world and currencies in general, so we have to think carefully about …

In our segment reporting, you will find the impact from the Argentine peso in our corporate line item while the impact of the devaluation in Venezuela in 2013 is reported as part of our Canada-Latin America segment. Our effective adjusted tax rate for …

While sales are initially driven by current customer conversion, we have been pleased with our ability to convert competitive platforms. Other new product launches during Q1 included ProTaper Gold, which is an …. But just for perspective, because of …