Restaurants International grew system sales 13%, prior to foreign currency translation, including new-unit growth of 7%.
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Favored by a weak dollar, Deere benefited from a 6% favorable currency translation move, while net equipment sales grew 10%.
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The extraordinary downdraft in the dollar suggests big multinationals must benefit from currency translation of offshore earnings, at least through yearend.
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The New York-based soap, detergent, and oral hygiene producer delivered record revenues and earnings last quarter despite a negative foreign currency translation.
Excluding the impact of strategies to eliminate some businesses as well as the effects from unfavorable foreign currency translation, revenue increased 5 percent.
Toyota also felt the hit of foreign currency translation, as the yen strengthened on heightened risk aversion as investors sought protection given instability in Europe and a declining U.S. dollar.
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My colleague Wayne Thorp and I both feel like each earnings report we look at has a profit number that has been adjusted to offset the impact of currency translation.
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Currency translation added 2 percentage points to revenue growth.
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Rising volume along with higher prices for flight tickets and hotel rooms helped the company in the second quarter, along with a favorable impact from currency translation. (Read Boeing Looks Good: Sales Taking Off, Outlook Raised, Dreamliner On Deck).
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United Technologies posted second quarter earnings before the bell on Wednesday, seeing net income jump 19% on organic growth in all six of its business units as well as a substantial favorable impact of foreign currency translation given the weak U.S. dollar.
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The company notes that based on current foreign-exchange rates, particularly with the euro, it expects foreign-currency translation to have a negative impact on earnings per share for the full year, even though the currency impact in the second quarter is expected to be minimal or null.
The company notes that based on current foreign-exchange rates, particularly with the euro, it expects foreign currency translation to have a negative impact on earnings per share for the full year, even though the currency impact in the second quarter is expected to be minimal or null.
On the non-operating side, the rapid depreciation of the Korean won against the US dollar in September resulted in foreign exchange-related losses of around 420 billion won due to translation of foreign currency- denominated assets and liabilities.
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In translation, they highlighted that the value of the currency should be considered when assessing monetary conditions.
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