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But Laidler says positive loan growth and improving operating efficiency support a higher price for Unibanco.
Company CEO Todd McKinnon specifically drew attention to improving operating margin within the earnings report itself.
Furthermore, by varying the height of the concrete and steel tube tower, it is possible to influence the natural frequency, thus improving operating efficiency.
"All in all, 2014 should be another year of improved economic performance for L'Oreal, with the group slightly outperforming the worldwide cosmetics market, improving operating profitability, and increasing its net earnings per share," Mr Agon said.
Soifer says layoffs, if they occur, are probably motivated in part by the desire of Stanley ONeal the recently installed head of Merrills brokerage unit to make his mark on the group by improving operating efficiency.
Beam and air gap thickness also need to be scaled down in order to lower operating voltage while improving operating speed.
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More full-price selling has been increasing revenue in both the retail and wholesale operations, while cost-cutting has further helped improve operating margins, Roger N. Farah, its president and chief operating officer, said.
She improved operating margins.
He wrote, "We must deliver sustained profitability, improved operating efficiency and shareholder returns".
The company said favorable exchange rates, improved operating margins and a sharp drop in debt helped profits last year.
Excluding the charge, State Street said it expected to report improved operating results in the second quarter.
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