I-Motley Fool yasungulwa abafowethu u-Tom noDavid Gardner ngo-1993. Ngewebhusayithi yethu, ama-podcasts, izincwadi, amakholomu amaphephandaba, izinhlelo zomsakazo kanye nezinsizakalo zokutshala izimali ezisezingeni eliphezulu, sisiza izigidi zabantu ukuba zithole inkululeko yezezimali.
Siyabonga ngokuseseka kwakho, futhi wamukelekile Ocingweni Lwenkomfa Yemiphumela Yezimali kaCurtiss-Wright Yekota Yesibili ka-2021. [Iziyalezo Zabasebenzisi] Ngemva kwesethulo sesikhulumi, kuzoba neseshini yemibuzo nezimpendulo. ~Iziyalezo
Ngiyabonga, Andrew, futhi sanibonani nonke. Siyakwamukela ocingweni lwenkomfa ye-Curtiss-Wright yezinzuzo zekota yesibili ka-2021. Abangijoyine ocingweni lwengqungquthela namuhla u-Lynn Bamford, uMongameli kanye ne-CEO; kanye noChris Farkas, iPhini likaMongameli kanye ne-CFO. Ucingo lwethu lwengqungquthela ye-dayos lusakazwa bukhoma kuwebhu, futhi ukukhishwa kwabezindaba kanye nekhophi yombiko wezezimali we- todayos kungalandwa engxenyeni yobudlelwano nabatshalizimali yewebhusayithi yethu ye-company ethi www.curtisswright.com. Ukudlalwa kabusha kokusakaza kwewebhu nakho kungatholakala kuwebhusayithi. Sicela uqaphele ukuthi ingxoxo ye- todayos izobandakanya izibikezelo ezibheke phambili kanye nezitatimende njengoba kuchazwe ku-Private Securities Litigation Reform Act of 1995. Lezi zitatimende zisekelwe kulokho okulindelwe yi-managementos zamanje futhi azisona isiqinisekiso sokusebenza kwesikhathi esizayo. Sichaze kabanzi ngobungozi nokungaqiniseki okuhlobene nezitatimende zethu ezibheke phambili kumadokhumenti ethu asesidlangalaleni afakwe ku-SEC.
Njengesikhumbuzo, ukusebenza kwe-companys kuhlanganisa ukubuka okulungisiwe okungeyona kwe-GAAP okungafaki izindleko ezithile ukuze kuhlinzekwe ngokusobala okukhulu ekusebenzeni okuqhubekayo nokusebenza kwezimali kukaCurtiss-Wrightos. Sicela futhi uqaphele ukuthi imiphumela yethu elungisiwe kanye neziqondiso zonyaka ogcwele azibandakanyi ulayini wethu womkhiqizo ophrintiwe okhiqizwayo osekela uhlelo lwe-737 MAX, kanye nebhizinisi lama-valve aseJalimane esifakwe kusigaba esithengiswayo ngekota yesine. Ukubuyisana kwe-GAAP kanye nokungeyona i-GAAP kwenkathi yamanje kanye nonyaka odlule kungatholakala esimemezelweni sezinzuzo, ekupheleni kwalesi sethulo, nakuwebhusayithi yethu. Ngaphandle kwalapho kushiwo ngenye indlela, noma yikuphi ukubhekisela ekukhuleni kwemvelo akufaki imithelela yokuhlelwa kabusha, ukuhunyushwa kwemali yangaphandle, ukutholwa kanye nokukhishwa kwempahla.
Ngiyabonga, Jim, futhi sanibonani nonke. Ngizoqala ngokubukeza amaphuzu avelele emiphumela yethu yekota yesibili kanye nombono wethu wonyaka ogcwele ka-2021. Ngizobe sengidlulisela ucingo kuChris ukuthi anikeze isibuyekezo esinemininingwane mayelana nokusebenza kwethu kwezezimali nezibuyekezo zemihlahlandlela unyaka wonke. Okokugcina, ngaphambi kokuthi singene esigabeni semibuzo nezimpendulo, ngizoqeda ukuphawula kwethu okulungiselelwe.
Qala ngokugqamisa kwekota yesibili. Sekukonke, ukuthengisa kwethu kukhuphuke ngo-14%. Izimakethe zethu zezindiza nezokuvikela zikhule ngo-11%, kanti ukuthengiswa ezimakethe zethu zezentengiselwano kukhuphuke ngo-21% unyaka nonyaka. Uma singena sijule emakethe yethu, i-aerospace yethu yezentengiselwano, amandla nenqubo, kanye nokuthengiswa kwezimakethe zezimboni okuvamile kuzuze ukukhula okuqhubekayo okunamadijithi amabili. Lezi zimakethe beziphakathi kwezikhahlamezeke kakhulu wubhubhane ngonyaka odlule, futhi kuyasikhuthaza ukuthuthuka kwazo.
Bheka inzuzo yethu. Imali engenayo yokusebenza eshintshile inyuke ngo-24%, kuyilapho ukulinganisa kwenzuzo yokusebenza elungisiwe kukhuphuke ngamaphuzu ayi-120 kuya ku-15.6%. Lokhu kusebenza kubonisa ukwenyuka okukhulu kwemikhawulo yenzuzo emkhakheni wezindiza kanye nezimboni nezasolwandle namandla okusekelwe ekuthengisweni okuphezulu kanye nezinzuzo zohlelo lwethu lokusebenza oluhle kakhulu. Kuyaphawuleka ukuthi lokhu kusebenza okuqinile kungenxa yokwenyuka kwezigidi zamaRandi ezi-5 zamaRandi ku-R&D uma kuqhathaniswa nonyaka odlule ngenkathi sisaqhubeka nokutshala imali ngamasu.
Ngokusekelwe emiphumeleni yethu yokusebenza eqinile, inzuzo elungisiwe ehlanjululwe ngesheya ngayinye yekota yesibili yayingu-$1.56, ingaphezudlwana kwalokho ebesikulindele. Lokhu kukhombisa izinga lokukhula eliqinile lonyaka nonyaka lama-22%. Nakuba izindleko zenzalo nezilinganiso zentela ziphakeme kancane, ngokuvamile zixazululwa izinzuzo zemisebenzi yethu eqhubekayo yokuthenga kabusha isabelo.
Vula ama-oda ethu ekota yesibili. Sizuze ukukhula ngo-11%, futhi isilinganiso sethu soku-oda kokuthunyelwa sisonke sikhuphuke izikhathi ezingu-1.1, ngenxa yokuthi ama-oda esigabeni ngasinye sezimakethe zethu ezintathu eqe ukuthengiswa kwesikhathi esisodwa. Kuyaphawuleka ukuthi ukusebenza kwethu kubonisa imiyalo eqinile ezimakethe zezentengiselwano, ngokunyuka konyaka nonyaka ngama-50%, okuhlanganisa nekota yerekhodi lomsebenzi woku-oda wemikhiqizo yethu yezimoto zezimboni ehlanganisa izimakethe ezitholakala emigwaqweni emikhulu nangaphandle kwemigwaqo emikhulu. Ezimakethe zethu ze-aerospace nezokuvikela, isilinganiso se-oda-to-bill singu-1.15. Lokhu kuhlanganisa Umklomelo Wamanzi Wamanzi Ka-$130 wezigidi Zabathwali Bezindiza kanye Nezinkundla Zomkhumbi Ongaphansi, esiwumemezele esitatimendeni sangaphambilini, futhi sibheke ngabomvu nama-oda aqinile engxenyeni yesibili yonyaka.
Okulandelayo yisiqondiso sethu esilungisiwe sonyaka ogcwele ka-2021. Sithuthukise ukuthengisa, imali engenayo yokusebenza, amamajini enzuzo kanye nezinzuzo ezincishisiwe ngesheya ngalinye. Isiqondiso sethu esibuyekeziwe sibonisa ukuthuthuka kwamathemba ezimakethe zethu zezimboni, okunye ukutshalwa kwezimali okuhleliwe okwengeziwe kwe-R&D ukuze kusekelwe ukukhula kwethu kwemali engenayo kanye nokwenyuka kwamazinga entela unyaka wonke. UChris uzokwethula ngokuningiliziwe kusilayidi esilandelayo. Kodwa kukho konke, siyakwazi ukuzuza imiphumela eqinile ngo-2021.
Manje, ngifuna ukudlulisela ucingo kuChris ukuze abuyekeze kabanzi ukusebenza kwethu kwekota yesibili kanye namathemba okuba ngcono ngo-2021. Chris?
Ngiyabonga, Lynn, futhi sanibonani nonke. Ngizoqala ngezisusa ezibalulekile zokusebenza kwekota yesibili, futhi sesiphinde sathola imiphumela eqinile yezezimali.
Iqala ngezinkambu ze-aerospace nezimboni. Ukuthengisa kunyuke kakhulu unyaka nonyaka, okubangelwe ukwanda okunamandla kwesidingo semikhiqizo yezimoto zezimboni ezimakethe zasemgwaqeni nangaphandle kwemigwaqo cishe ngama-40%. Ukukhula kokuthengisa kwalo mkhakha kungenxa yesidingo esinamandla sezinsizakalo zokwelapha ngaphandle emakethe yethu yezimboni, eqhutshwa ukuthuthuka okuqhubekayo emsebenzini womnotho womhlaba.
Esigabeni semakethe yezentengiselwano ye-aerospace, sinyuse isidingo semikhiqizo yethu yezinzwa kumapulatifomu anomzimba omncane. Kodwa-ke, njengoba besilindele, lezi zinzuzo zaxazululwa ngokuyinhloko ukwehla okuqhubekayo kwezinkundla eziningana ezibanzi.
Uma sibheka phambili engxenyeni yesibili ka-2021, eqhutshwa ukwanda kokukhiqizwa kwezindiza ezinomzimba omncane (okuhlanganisa i-737 ne-A320), silindele ukuthi ukusebenza kwemakethe kube ngcono. Ngokuhamba kwesikhathi, silindele ukuthi izindiza ezinomzimba omncane zibuyele emazingeni azo okukhiqiza adlule ngo-2023, kuyilapho izindiza ezinomzimba obanzi zingase zingalulami ngokugcwele kuze kube ngu-2024 noma ngisho no-2025.
Phendukela enzuzweni yomkhakha. Imali engenayo yokusebenza eshintshile inyuke ngo-138%, kuyilapho inzuzo yokusebenza elungisiwe ikhuphuke ngamaphuzu angu-800 yaya ku-15.7%, okubonisa ukutholwa okuhle kokuthengisiwe okuthe xaxa kanye nokusimama okukhulu ngekota yesibili yonyaka odlule. Ngaphezu kwalokho, imiphumela yethu ibonisa izinzuzo zohlelo lwethu oluqhubekayo lokusebenza kahle ekongeni ukuhlela kabusha unyaka nonyaka. Nakuba siqhubeka nokuthinteka kancane ukuthunyelwa kweziqukathi kanye nezingqinamba ze-electronic supply chain, lo mthelela awubalulekile emiphumeleni yethu yonke.
Emkhakheni wezokuvikela zikagesi, imali engenayo iyonke ngekota yesibili inyuke ngo-17%. Lokhu kungenxa yokunye ukusebenza okuqinile kokuthola kwethu i-PacStar. Inkampani yenze kahle kakhulu, futhi ukuhlanganiswa kwayo kusaqhubeka ngokujwayelekile. Ngokungeziwe ku-PacStar, ngenxa yesikhathi sezinhlelo ezihlukahlukene ze-C5 ISR ekuvikelweni kwe-aerospace, ukuthengiswa kwekota yesibili kwehle ngesisekelo sezinto eziphilayo. Uma ukhumbula, ukuthengiswa kwemvelo kwemikhiqizo yethu engaphandle kweshalofu yezentengiselwano esezingeni eliphezulu kwashesha ngekota yokuqala ngoba amanye amakhasimende athathe isinyathelo sokuzinzisa amaketanga awo okunikezwayo ngenxa yokukhathazeka mayelana nokushoda okungenzeka kwezingxenye zikagesi. Imiphumela yokusebenza kweminyango ihlanganisa ukutshalwa kwezimali okungeziwe kwe-R&D kwezigidi ezine zamadola aseMelika, izikhundla ezingafaneleki, kanye namadola aseMelika acishe abe yizigidi ezimbili emalini yangaphandle engalungile. Ngaphandle kwale miphumela, umkhawulo wokusebenza engxenyeni yesibili ucishe ufane nokusebenza okuqinile konyaka odlule.
Emkhakheni wezempi yasolwandle namandla, okokusebenza kwethu kwemikhumbi yempi yenuzi kuyaqhubeka nokuzuza ukukhula kwemali engenayo okuqinile, ikakhulukazi ukusekela i-CVN-80 kanye nezinhlelo zokuthwala izindiza ezingama-81. Kwenye indawo, ezimakethe zamandla ezentengiselwano nezinqubo, imali yethu engenayo ye-nuclear aftermarket e-United States nase-Canada inyukile, futhi ukuthengiswa kwama-valve emakethe yezinqubo kunyukile. Imali engenayo yokusebenza elungisiwe yesigaba inyuke ngo-13%, kuyilapho umkhawulo wenzuzo yokusebenza olungisiwe ukhuphuke ngamaphuzu angu-30 ukuya ku-17.2%, ngenxa yokutholwa okuhle kokuthengisiwe okuthe xaxa nokongiwa kwezenzo zethu zangaphambilini zokuhlela kabusha.
Ukufingqa imiphumela yekota yesibili, sekukonke, imali engenayo yokusebenza elungisiwe inyuke ngo-24%, okuholele ekukhuphukeni kwesilinganiso senzuzo ngamaphuzu ayi-120 unyaka nonyaka.
Vula isiqondiso sethu sonyaka wonke ka-2021. Ngizoqala ngamathemba ethu okuthengisa emakethe yokuphela, futhi siyaqhubeka nokulindela ukuthengiswa okuphelele kukaCurtiss-Wrightos kuzokhula ngo-7% kuya ku-9%, lapho u-2% kuya ku-4% kuzoba ukukhula kwezinto eziphilayo. Njengoba ubona, sigqamise izinguquko ezithile ngokuluhlaza okwesibhakabhaka ku-slide.
Kusukela ngokuzivikela kwemikhumbi, ibanga lethu lesiqondiso elibuyekeziwe likhuphuke lisuka endaweni ephansi laya ku-2%. Lokhu kungenxa yokulindela imali engenayo ephakeme kancane yesithwali sezindiza i-CVN-81 kanye nokuncipha kancane kwesikhathi semali engenayo yemikhumbi-ngwenya esezingeni laseVirginia. Umbono wethu ngokukhula kokuthengiswa kwemakethe ye-aerospace kanye nezokuvikela kusengama-7% kuya ku-9%. Njengesikhumbuzo, lokhu kwenza izinga lokukhula kwemali engenayo yezokuvikela likaCurtiss-Wright liphinde lidlule isabelomali esiyisisekelo soMnyango Wezokuvikela.
Emakethe yethu yezentengiselwano, izinga lethu lokukhula kokuthengisa lilonke lihlala liphakathi kuka-6% no-8%, kodwa sibuyekeze izinga lokukhula kwemakethe ngayinye yokugcina. Okokuqala, ngokwamandla nenqubo, siyaqhubeka nokubona ukuphindaphinda okuqinile komsebenzi we-MRO ebhizinisini lethu lamavalvu ezimboni. Kodwa-ke, ngenxa yokuhlehliswa kwemiklamo emikhulu yamazwe ngamazwe kawoyela negesi kuze kube ngu-2022, sehlise isiqondiso sethu semakethe sokugcina sika-2021. Ngakho-ke, manje silindele ukuthi imakethe ikhule ngo-1% iye ku-3%. Okwesibili, ezimakethe zezimboni ezijwayelekile, ngokusekelwe ekusebenzeni konyaka kuze kube manje kanye nokukhula okuqinile kwama-oda emikhiqizo yezimoto zezimboni, sibuyekeze umbono wethu wokukhula waba yibanga elisha lika-15% kuya ku-17%. Engifuna ukukuveza ukuthi osukwini lwethu lwakamuva lwabatshalizimali, sasho ukuthi silindele ukuthi imakethe yezimoto zethu ezimbonini ibuyele ezingeni lika-2019 ngo-2022, futhi sinemiyalelo eqinile yokweseka lo mgwaqo.
Qhubeka nombono wethu wonyaka ogcwele. Ngizoqala ngomkhakha we-aerospace kanye nezimboni. Ukwenyuka kokuthengiswayo kanye nenzuzo kukhombisa ukukhula okuqinile okuqhubekayo kwemakethe yethu yezimboni jikelele. Manje silindele ukuthi ukuthengiswa kulesi sigaba kunyuke ngo-3% kuye ku-5%, futhi senyuse isiqondiso semali engenayo yalesi sigaba ngamadola ayizigidi ezingu-3 ukuze sibonise ukuthengisa okuphezulu. Ngalezi zinguquko, manje silindele ukuthi imali engenayo yokusebenza kwengxenye izokhula ngo-17% iye ku-21%, kuyilapho amamajini enzuzo yokusebenza kulindeleke ukuthi abe phakathi kuka-15.1% no-15.3% wamaphoyinti angu-180 kuya kwangu-200, okusenza sikwazi ukudlula inzuzo yethu yango-2019. unyaka.
Okulandelayo, emkhakheni wezokuvikela electronics. Nakuba sisasebenzisa isiqondiso sangaphambilini njengoba bekuhleliwe, ngifuna ukugqamisa ezinye zezici ezihambayo kusukela ekubuyekezweni kokugcina. Okokuqala nje, ngokusekelwe ekuphishekeleni kwethu ubuchwepheshe, manje silindele ukutshala imali eyengeziwe eyizigidi ezimbili zamaRandi aseMelika ku-R&D, ngesamba esingama-US$8 wezigidi unyaka nonyaka ukuze sikhuthaze ukukhula kwemvelo okuzayo.
Okwesibili, mayelana nokuhwebelana kwamanye amazwe, sibone ukwehla kwedola laseMelika engxenyeni yesibili, okuzodala umoya omncane emalini yenzuzo yokusebenza yonyaka yezinkampani ezisebenza eCanada nase-United Kingdom. Ukwengeza, kulezi zinyanga ezimbalwa ezedlule, uchungechunge lwethu lokuhlinzeka bathole imithelela ethambile, ikakhulukazi ehlobene nokuhlinzekwa kwemikhiqizo emincane ye-elekthronikhi, futhi silindele ukuthi lo mthelela uqhubeke okungenani kukota yesithathu. Nakuba lokhu kuseyinto yokubhekwa, ikakhulukazi umthelela esikhathini semali engenayo, sisabambe isiqondiso sesegimenti yonyaka ogcwele.
Okulandelayo, emikhakheni yezempi yasolwandle namandla, ukuqondiswa kwethu kuhlala kungashintshile, futhi siyaqhubeka nokulindela amamajini enzuzo okukhula kokuthengisa okuqinile ukuthi kwenyuke ngamaphoyinti angu-20 kuya kwangu-30.
Ngakho-ke, sifingqa umbono wethu wonyaka ogcwele, silindele ukuthi imali engenayo yokusebenza elungisiwe ikhule ngo-9% iye ku-12% ngo-2021 futhi ukuthengiswa okuphelele kuzokhula ngo-7% kuya ku-9%. Inzuzo yokusebenza manje kulindeleke ukuthi yenyuke ngamaphuzu angama-40 kuye kwangama-50 iye ku-16.7% iye ku-16.8%, okukhombisa inzuzo eqinile kanye nezinzuzo zohlelo lwethu lokusebenza oluhle kakhulu lokuhlela kabusha nokuqhubekayo lwenkampani yonke ngonyaka odlule. Ngokuqhubeka nombono wethu wezezimali ka-2021, siphinde sanyusa izinzuzo zethu ezilungisiwe zonyaka wonke ezihlanjululwe ngesabelo ngasinye saya ebangeni elisha lika-US$7.15 kuya ku-US$7.35, okubonisa ukukhula ngo-9% kuya ku-12% futhi okuhambisana nokukhula kwemali engenayo yokusebenza kwethu. Sicela uqaphele ukuthi umhlahlandlela wethu uhlanganisa nomthelela wokutshalwa kwezimali okuphezulu kwe-R&D kanye namazinga entela aphezulu. Ngokwezinguquko zakamuva emthethweni wentela wase-UK kanye nokwehliswa kwenani lamasheya ethu okuqhutshwa imisebenzi eqhubekayo yokuthenga kabusha amasheya, isilinganiso sentela esilinganiselwe manje singu-24%. Ezinyangeni eziyisithupha zokugcina zika-2021, silindele ukuthi imali engenayo encishisiwe ngesheya ngalinye kwikota yesithathu ifane nekota yesithathu yonyaka odlule, futhi ikota yesine izoba ikota yethu enamandla kakhulu kulo nyaka.
Uma sikhuluma ngombono wethu wonyaka wonke wokugeleza kwemali kwamahhala, sesenze u-$31 wezigidi kuze kube manje kulo nyaka. Njengoba sibonile emlandweni, ngokuvamile sikhiqiza cishe u-90% noma ngaphezulu wemali engenayo yamahhala engxenyeni yesibili yonyaka, futhi sisalindeleke ukuthi sizuze isiqondiso sonyaka ogcwele sezigidi ezingu-US$330 kuya ku-US$360 million.
Ngiyabonga, Chris. Ngifuna ukuxoxa ngeminye yemicabango nokuphawuliwe kusukela ngoSuku lwethu lwabatshalizimali lwakamuva lwangoMeyi emizuzwini embalwa ezayo. Ngizoqala ngesicelo sesabelomali sezokuvikela se-Presidents FY22, esikhishwe ngokushesha ngemva komcimbi wethu woSuku Lwabatshalizimali. Le nguqulo ibonisa ukwenyuka cishe ngo-2% kwisabelomali esikhishwe ngonyaka wezimali wama-21, futhi ihambisana ngokunengqondo nalokho esikulindele nezinhlelo zethu. Isabelomali sibonisa ukuthi amapulatifomu ezempi ase-United Stateso abaluleke kakhulu ayaqhubeka nokuthola ukwesekwa okuqinile, okuhlanganisa abathwali bezindiza i-CVN-80 kanye ne-81 kanye nemikhumbi-ngwenya yase-Columbia-class kanye ne-Virginia-class. Sikholelwa ukuthi ukusekelwa yila maqembu amabili ngekusasa le-Navy kusinikeza isisekelo esiqinile esingakhuphula kuso imali yethu evela emikhunjini yenuzi kanye nangaphezulu. Uma bengeza umkhumbi-ngwenya wesithathu wase-Virginia noma omunye umbhubhisi we-DDG, sisenamandla okuba phezulu.
Siphinde futhi sibheke phambili ekusekelweni okuqhubekayo kwezimali zoMnyango Wezokuvikela izinto eziza kuqala kunamasu aphezulu, okuhlanganisa ukuxhumana nenethiwekhi, ukubethela, izimoto ezingenamshayeli nezizishayelayo, konke okugqanyiswe ekukhululweni kwesabelomali. Lokhu kukhombisa kahle ukwesekwa kwethu kwezokuvikela kuzo zonke lezi zindawo.
Enye indawo ekhanyayo ukuthuthukiswa kwezempi. Naphezu kokwehliswa kwesabelomali sisonke se-Armyos, esicelweni sesabelomali senkonzo se-FY22, izimali ezisetshenziselwa ukuthuthukisa inethiwekhi yenkundla yezempi zikhuphuke ngo-25% zaya ku-$2.7 billion, okuwukunyuka okukhulu kwezinto eziza kuqala ze-Armyos. Ngaphezu kwalokho, kunikeza ukuzethemba okukhulu esinqumweni sethu sokuthola i-PacStar, njengoba isesimweni esihle sokusebenzisa ithuba lesimanjemanje lamandla angaphansi.
Kusukela lapho, siye sabona izimpawu eziningi zethemba njengoba isabelomali sidlulisa iCongress ukuze inyuse amanani. IKomidi leSenate Armed Services lisanda kuvota ukuthi ligunyaze enye imali eyizigidi eziyizinkulungwane ezingama-25 zamaRandi kusabelomali sonyaka wezimali we-Pentagonos 22, okuwukunyuka kwe-3% ngaphezu kwesicelo sokuqala se-presidents kanye nokwanda okuphelele kwe-5% kulo nyaka wezimali wamanje. Nakuba kungewona umphumela wokugcina, kuphinda kusinikeze ukuzethemba ekucabangeni kokukhula kwemvelo kwayo yonke imakethe yethu yezokuvikela yesikhathi eside.
Okulandelayo, ngifuna ukugqamisa amaphuzu athile abalulekile osuku lwethu lwabatshalizimali lwakamuva futhi ngibonge wonke umuntu obambe iqhaza. Ukushintsha kwethu isu lokukhula kubuswa ukugxila okuvuselelwe ekukhuphuleni imali engenayo. Silindele ukuthi lokhu kuzuzwe ngokukhula kokuthengiswa kwezinto eziphilayo kanye ne-inorganic kanye nokulindela kwethu imali engenayo yokusebenza ukuthi ikhule ngokushesha kunokuthengisa, okusho ukunwetshwa okuqhubekayo kwamamajini enzuzo yokusebenza. Ngaphezu kwalokho, umgomo wethu uwukuthola okungenani umholo onamadijithi amabili ekukhuleni kwesheya ngalinye phakathi nenkathi yeminyaka emithathu ephela ngo-2023 futhi siqhubeke nokukhiqiza imali eqinile yamahhala. Ngokusekelwe ekuqageleni kwethu okusha kwesiqondiso sesikhathi eside, okungenani silindele ukuthi ukuthengisa kwethu kwe-organic ezimakethe zethu zokuphela konyaka kufinyelele ukukhula kwedijithi eyodwa ephansi. Sinethemba elikhulu lokuzuza izinga lokukhula elihlanganisiwe lonyaka elingu-5% lokuthengisa okuyisisekelo ekupheleni kuka-2023, okuhlanganisa ne-PacStar.
Ngaphezu kwalokhu kukhula kwemvelo okulindelekile, siphinde sigxile ekwandiseni amathuba ethu okukhula ezimakethe zokugcina ezibalulekile ngokusekelwe ekunikeleni kwethu ekutshaleni imali okuqhubekayo ocwaningweni nasekuthuthukisweni kanye nezinzuzo zenkundla yethu entsha yokukhula yokusebenza. Sitshala kabusha ebhizinisini lethu ezingeni eliphezulu kakhulu emlandweni wakamuva kaCurtiss-Wright. Njengoba nazi, le yindawo engiyithanda kakhulu. Njengoba ubona kumhlahlandlela wethu obuyekeziwe, sikhulise utshalomali lwethu lwe-R&D ngo-2021 ngomunye u-US$2 wezigidi, futhi izindleko sezizonke zikhuphuke ngo-$12 million unyaka nonyaka. Lokhu kutshalwa kwezimali kuhloswe kubuchwepheshe obubalulekile kanye nezinkampani zenethiwekhi ezikhula ngokushesha ezimakethe zethu zokugcina, njenge-MOSA ebhizinisini lethu le-electronics yezokuvikela.
Ukwengeza, ukwethulwa kwenkundla entsha yokukhula yokusebenza kunikeza ukugxila okukhulu kokuphatha, ukunaka kanye namandla okuqhuba zonke izinto ezibalulekile ekukhuleni, kusukela ekuvuseleleni izinto ezintsha ezivuselelayo nokusebenzisana kuya ekunikezeni amathuba amasha okusebenza kahle kwebhizinisi kanye namanani entengo amasu. Ngakho-ke, sizoba nethuba lokunciphisa ngokuqhubekayo izindleko, ezingakhulula izimali zokwenza ukukhishwa kwesikhashana kokutholwayo, ukwabelwa ukutshalwa kwezimali kwe-R&D noma kuholele ekwandiseni umkhawulo wenzuzo. Lezi kuzoba izinqumo ezihlosiwe kanye nezinqumo zokutshala izimali.
Ukwengeza, ngicabanga ukuthi kubalulekile ukuveza ukuthi sizoqhubeka nokushayela izinqubo zethu eziqinile nokuzinikela ekusebenzeni okuhle kakhulu ezingeni elifanayo lokuzibophezela nokuzinikela okukhulu ithimba elikukhombisile kusukela ngo-2013. Ekugcineni, ngifuna ukuphinda umgomo wethu ubuncane bezinga lokukhula lonyaka elihlanganisiwe le-EPS elingu-10% esikhathini esiyiminyaka emithathu, okungase kuhlanganise imisebenzi yaminyaka yonke yokuthengwa kabusha kwesitoko ephakeme kuneleveli yethu yamanje eyisisekelo engu-$50 wezigidi ngonyaka. Sizibophezele ekwabiweni ngempumelelo kwezimali ukuze ilethe imbuyiselo yesikhathi eside kubanikazi bamasheya. Ngakho-ke, ukusatshalaliswa kwaminyaka yonke kokuthengwa kabusha kwesitoko kuzohluka, kuye ngosayizi kanye nesikhathi sokutholwa kwesikhathi esizayo esisethula uCurtiss-Wright.
Okokugcina, njengoba abaphathi benaka kakhulu ukuhlanganiswa nokutholwa kanye nepayipi lamathuba aphelele, ngizizwa nginethemba elikhulu lokuthi sizoba nethuba lokudlula u-5% futhi sisondele ekuhlosweni kokuthengisa okungu-10% ngoba sithole ukutholwa kwamasu okubalulekile ukuze sethule u-Curtiss- Wright.
Sekukonke, siyakwazi ukuzuza ukusebenza okuqinile kulo nyaka. Silindele ukuthi ukuthengisa kufinyelele izinga eliphezulu lokukhula kwedijithi eyodwa kulo nyaka, futhi imali engenayo yokusebenza kanye nenzuzo encishisiwe ngesheya ngalinye izokhuphuka ngo-9% iye ku-12%. Isiqondiso sethu se-margin yokusebenza sango-2021 manje sesingu-16.7% kuya ku-16.8%, okuhlanganisa nokutshalwa kwezimali kwethu okukhulayo ocwaningweni nasekuthuthukisweni. Kusalindeleke ukuthi siqhubeke nokwandisa imajini yenzuzo iye ku-17% ngo-2022. Ukugeleza kwethu kwemali kwamahhala okulungisiwe kuhlala kuqinile, futhi siyaqhubeka nokugcina isu lokwabiwa kwezimali elinempilo nelinokulinganisela ukuze sisekele imali yethu engenayo nenzuzo, sibe siqinisekisa ukuthi siyasebenza. ukutshala imali yethu ukuze uthole inzuzo engcono kakhulu yokuqhuba inani lesikhathi eside labanikazi bamasheya.
Ngiyabonga. [Iziqondiso Zomsebenzi] Umbuzo wethu wokuqala uvela emugqeni womkhiqizo ka-Nathan Jones no-Stifel.
Ngifuna ukukhuluma kuqala mayelana nokuphawula kwakho mayelana nezindleko zamakhasimende angase ahlanganise izinto ngekota yokuqala, okungase kuholele ekwehleni kwekota yesibili. Ngokuvamile uzobona ukwanda kwesizini engxenyeni yesibili yonyaka. Usabheke ngabomvu ukubona ukukhula kwesizini? Ulubheka kanjani uhlu lwamagama lwamakhasimende kanye nohlu lweziteshi? Ingabe ucabanga ukuthi zisengaphambili lapho zivame ukuba khona, ziklelile, nangemuva? Ungakwazi ukusinika umbala?
Kulungile, kunjalo. Ngizoyithola leyo. Ngisho, engxenyeni yokuqala, kufanele sibone amakhasimende athile okuvikela esheshisa ama-oda awo, ezama ukudlula ukushoda kwezingxenye ze-elekthronikhi. Ngakho-ke lapho ubona lesi sivunguvungu semvelo esikhule cishe ngama-dollar ayizigidi eziyisi-8 ngonyaka ngekota yesibili, lokhu empeleni kuwumsebenzi osheshisiwe ngekota yokuqala. Ngisho ukuthi, siyaqhubeka nokubambezeleka okuncane ezingxenyeni ze-elekthronikhi. Ngakho-ke, uma kucatshangelwa isimo izinkampani eziningi ezisithole ngonyaka odlule kanye nokukhula okubukhali izinkampani eziningi ezinenhlanhla yokubhekana nazo kulo nyaka, imakethe iyasebenza impela. Kodwa kuthinta kakhulu isikhathi semali engenayo somnyango wethu wezokuvikela, imali engenayo yezokuvikela zezindiza, kanye nemikhiqizo ye-C5 ISR enemajini yenzuzo ephezulu.
Manje, uma ubheka ingxenye yesibili yonyaka, silindele ingcindezi ethile ngokusekelwe lapho lezi zingxenye zitholwa nini, futhi ukucindezela okuningi kuzosetshenziswa engxenyeni yesithathu. Kodwa njengoba ubonile emlandweni, siphuma ebhizinisini le-electronics yezokuvikela, sivame ukuba nomthamo omkhulu kakhulu wekota yesine, futhi silindele ukuthi lokhu kwenzeke futhi kulo nyaka. Ngakho-ke, njengamanje sisebenza kanzima ukuxazulula lezi zinkinga futhi sinomuzwa wokuthi senza umsebenzi omuhle ekunqobeni lezi zingcindezi.
Bese, ngifuna ukubuyela kumkhakha oyintandokazi kaLynnos, ucwaningo kanye nentuthuko. Ukhuphule izindleko zakho zocwaningo nentuthuko ngekota yesibili futhi wakhulisa inhloso yakho yonyaka ogcwele. Ungakhuluma ngamathuba akho lapho? Ingabe ucabanga ukuthi njengoba siqhubekela phambili, lapho likhona ithuba lokuqhubeka nokukhulisa utshalomali lwe-R&D, ingabe kufanele sicabangele ukuzinza kuleli zinga ngokwengeziwe? Ungakwazi ukusinika isiqondiso?
Ngiyabonga kakhulu ngosizo lwakho. Njengoba ushilo, le yindawo engithanda ukukhuluma ngayo. Ngakho-ke, ngakho-ke, senze i-R&D eyengeziwe eqenjini lethu le-electronics yezokuvikela, ngoba siqhubeka nokubona amathuba amahle kakhulu okwandisa umugqa womkhiqizo wethu, kungakhathaliseki ukuthi kuseduze nohlelo lwe-MOSA lokwandisa umugqa womkhiqizo wethu ngoba uyaqhubeka nokuthola amandla amakhasimende anhlobonhlobo embonini yezokuvikela, kanye nobunye ubuchwepheshe obuthile obuphathelene nokubethela kanye ne-GPS enqatshiwe, amanethiwekhi, kanye nokutshalwa kwezimali okwengeziwe-ithimba lethu le-PacStar lenza isimanjemanje endaweni yempi.
Ngakho-ke, amathuba azoqhubeka nokukhula. Sisesikhathini esihle ngempela manje, futhi sizwa ngempela ukuthi manje yisikhathi esihle sokutshala imali. Enye indawo lapho futhi sikhulisa khona ukutshalwa kwezimali i-A&I, empeleni emayelana nokufakwa kukagesi nezinto zikagesi, i-inthanethi Yezinto, izimoto zikagesi, izimoto eziyingxube kanye nokuphromotha kwethu kulo mkhakha. Sizibeka ngempela njengomholi-le nkambu Umholi wezobuchwepheshe uyinketho yokuqala yabakhi bezimoto abaningi abakhulu. Senza isiqiniseko sokuthi sinokuqonda okuhlelekile kokuthi ubani owenza izimoto kulo mkhakha, futhi sisebenze nazo, ngokuvamile senza okuhlukile kwemikhiqizo ethile ukuze ilingane ngokuqondile nezimoto zabo. Lokhu kudinga ukuthi senze imali ethile, futhi sicabanga ukuthi lena indlela efanele.
Futhi, ngi-sivame ukubuzwa ukuthi ingabe sicabanga ukuthi i-R&D izophinde yenyuke eminyakeni engama-22. Awuzange unikeze isiqondiso esiqondile. Futhi ngicabanga ukuthi kubalulekile ukuvumela abantu baqonde ukuthi sifunda ngempela ukuthi siyaba kanjani imali kanye nokuthi i-R&D iwutshalomali olungcono kakhulu, okunye ukutshalwa kwezimali noma uma sekuyisikhathi sokubuyela enzuzweni. Sizokwenza izinqumo ezilinganiselayo kule ndawo ngokusekelwe emathubeni aphambi kwethu. Kodwa asesabi ukusebenzisa i-R&D ethile ukuze siqinisekise ukukhula kwesikhathi eside, futhi sibona amathuba esiwabona azokhokha izinzuzo eminyakeni embalwa ezayo. Uma sikhuluma iqiniso, ukutshalwa kwezimali kwe-R&D esikwenzayo kuzokhiqiza kuphela imbuyiselo ngonyaka wekhalenda ofanayo, unyaka olandelayo wekhalenda, futhi ngezinye izikhathi ngisho neminyaka emithathu kuya kwemine kamuva. Ngakho-ke, futhi, akumele kuphela ubhalansise ukubuyisela, kodwa futhi uqinisekise ukuthi ushayela [izinkinga zobuchwepheshe] eziseduze, eziseduze, kanye nokukhula kwesikhathi eside. Ngakho-ke, lokhu ukuhwebelana mayelana nendlela esikubheka ngayo lokhu kutshalwa kwezimali kuyo yonke inhlangano futhi senza utshalomali olunamasu olungcono kakhulu ukuze sithuthukise izinqubo zethu.
Mhlawumbe, Lynn, ukhulume ngeziteshi zamanje zokutholwa zigcwele kakhulu, mhlawumbe unethemba lokufinyelela umkhawulo ophezulu wethagethi yakho yokuthengisa. Ungakwazi yini ukuphinde uxoxe futhi ukhulume ngokuthi yiziphi izici, usayizi, isikali, amanani, nanoma yiziphi ezinye izici ofuna ukuzicebisa, futhi ucabanga ukuthi uzovala eyodwa ngaphambi kokuthi iphele? Indaba yalowo nyaka?
ngokuqinisekile. Ngakho-ke, ngicabanga ukuthi, uma ngikhuluma iqiniso, ukulindela izinguquko emthethweni wentela eminyakeni engu-22 kuye kwakhulisa ugqozi lwabantu esicabanga ukutshela i-PE kanye nezinkampani ezizimele ukuthi zizame ukuqedela ukuthengiselana kulo nyaka. Ngakho-ke, ezindaweni eziningi ezisebenzayo ezisakhiwayo, umfutho kulo nyaka uwukufinyelela esivumelwaneni. Manje, ukuthi siyayenza yini isivumelwano kuzoncika ezimpahleni ezisebenzayo njengamanje uma senza ngokuzimisela kwethu. Futhi-kodwa futhi, ngeke sifinyelele esivumelwaneni njengoba sihlala sisho. Uma ngingaphindi, uzodumala, ngeke sishintshisane ngokwenziwe. Kufanele kube isu elifanele kanye nomdlalo wezezimali. Kodwa kunemigomo ngaphakathi kwalolo banga. Ngifuna ukusho ukuthi impahla esiyibonayo manje imakethe yethu yezokuvikela. Leli yinqwaba yepayipi. Akukhona lokho kuphela, kodwa futhi kubonakala sengathi yiyona ndawo esebenza kakhulu okwamanje, okuyindawo ebaluleke kakhulu kithi. Ngakho, lokhu kusebenza kahle. Ngisho ukuthi, asisho ukuthi sizothenga izindlu ezithengiswayo kuphela embonini yezokuvikela. Kodwa lena indawo, ikakhulukazi njengoba siyibona ihambisana nokuhlinzekwa kwemikhiqizo yethu yamanje, futhi singaletha okuthile okwengeziwe kumakhasimende ethu amanje, kungakhathaliseki ukuthi ungomunye wabantu abanika amandla amapulatifomu noma abakha amasistimu angaphansi kagesi. Ngakho, lokhu kubi kakhulu.
Engifuna ukukusho ukuthi intengo iyahambisana nalokhu esikubone emlandweni. Akusho-ngiqonde, ngiyazi ukuthi kukhona ingxoxo, futhi kukhona izibonelo ezibiza kakhulu-okuningi kudlulele kakhulu. Ngicabanga ukuthi sifuna imikhiqizo yekhwalithi enokuphindaphinda okunengqondo futhi eyenza ifaneleke kahle uCurtiss-Wright. Ngakho-ke, lokhu kuyinto abaphathi bethu abakhathazeke ngayo kakhulu, izinqubo eziningi. Manje sinempahla eningi esebenzayo, futhi sifunda ukuthi imaphi amasu esicabanga ukuthi amfanele kakhulu uCurtiss-Wright.
Ngakho-ke, ngicabanga ukuthi sinethuba elanele lokwengeza okuthile kuphothifoliyo yethu onyakeni wekhalenda. Siyabona ukuthi izakhiwo ezingaphakathi kwebanga lemali engenayo lohlobo lwe-PacStar zizofakwa ohlwini maduze. Ngakho-ke, kuyisiteshi esinempilo impela manje.
Isikhathi sokuthumela: Nov-05-2021
