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My Favorite Tv Show Essay Essays and Research Papers. Running head: CHARMED: MY FAVORITE TV SHOW Charmed: My Favorite . TV Show Tolby Markham Kaplan University LS 526-01: Academic and Professional Writing for Graduate Students CHARMED: MY FAVORITE TV SHOW Charmed: My Favorite TV Show Charmed, I’m sure! Are you? Charmed is the story of The Charmed Ones – the most powerful good witches the world has ever known, whose job is to protect the innocent and not blow their cover. When their grandmother, Grams, suffers a heart attack, Prue. Alyssa Milano , Charmed , Holly Marie Combs 1143 Words | 4 Pages. An example for lao tzu research paper, the essay about a TV show Check, Please! Check, Please!
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R©sum© par Chapitre - Bel-Ami de Maupassant. Ce document est un r©sum© de l'oeuvre Bel-Ami de Maupassant . Lao Tzu? L'oeuvre est compos©e de 2 parties. Internship Essays? La premiЁre partie de Bel-Ami comporte 8 chapitres et la seconde partie 10 chapitres. Research Paper? Cette fiche est id©ale pour r©viser pour le baccalaur©at ! Pendant l'ann©e scolaire de PremiЁre ES et pour pr©parer les ©preuves anticip©es , les ©lЁves ont souvent beaucoup de textes de fran§ais et de notions assimiler. Essay About? C'est pourquoi Bac ES.net met votre disposition ce r©sum© de Bel-Ami chapitre par chapitre. Lao Tzu Paper? Vous trouverez ainsi des notes pour la partie 1 et pour la partie 2. Bel-Ami est un roman ©crit par Guy de Maupassant en 1885 qui ©voque le parcours de Georges Duroy , un homme opportuniste qui sait utiliser ses talents de s©ducteur pour atteindre le haut de l' ©chelle sociale parisienne.
Entre manigances politiques, financiЁres et amoureuses, il parvient ses fins en se hissant au sommet de la hi©rarchie. Shopping Essay? Au travers du protagoniste, Maupassant retrace son propre parcours l'inverse et fait la satire d'une haute soci©t© de la fin du XIXЁme siЁcles min©e par les scandales . R©sum© Partie 1 : Bel-Ami de Maupassant. Georges Duroy , ancien militaire envoy© en Afrique, avait belle allure. Lao Tzu? Il ©tait revenu Paris dans le but de faire fortune, mais pour le moment il avait peu d'©conomies, car il travaillait aux bureaux du chemin de fer du Nord, qui le r©mun©raient peu. Essay? A la recherche d'une femme en cette soir©e de juin, il flўnait dans Paris , tout en faisant attention au peu d'argent qu'il lui restait.
La chaleur de l'©t©, l'assoiffait, et lorsqu'il s'apprЄta entrer au Caf© Am©ricain, il reconnut un ancien camarade de combat : Forestier . Ce dernier, lui raconta alors qu'il ©tait devenu journaliste , et qu'il ©tait malade depuis son retour en France. Research Paper? Il l'invita le suivre au journal : la Vie Fran§aise . Short Opinion? Puis autour d'un verre et aprЁs r©flexion, Forestier lui proposa de devenir journaliste pour lui. Lao Tzu? Il l'invita alors, diner chez lui le lendemain, avec son patron. Good? Ils continuЁrent leur promenade jusqu'aux Folies-BergЁres puis dans un jardin public o№ Georges se fit s©duire par deux filles de joie. Lao Tzu? Forestier fit remarquer Georges qu'il avait du succЁs, et qu'il devrait s'en servir pour faire une place. Bad Essay? Puis il prit cong© et Georges rejoignit une des deux femmes (Rachel).
Chapitre 2 - R©sum© de la partie 1 de Bel-Ami. Le lendemain, Georges se rendit au d®ner, habill© du mieux qu'il put, si bien qu'il ne se reconnut pas dans la glace. Paper? Quand il arriva chez Forestier, il perdit confiance, tant ce monde lui ©tait inconnu. Leo Rosten About Happiness? Mme Forestier l'accueillit chaleureusement, puis arriva Clotilde de Marelle et sa fille Laurine ; M. Paper? Walter et sa femme, Jacques Rival , Norbert de Varenne et enfin Forestier. Clinical Psychology? Intimid©, Georges resta silencieux durant le repas, tout en appr©ciant la compagnie de Mme de Marelle qui lui paraissait belle, originale et fine d'esprit.
AprЁs quelques verres, il se sentit prЄt prendre part aux discussions journalistiques. Il engagea une discussion sur l'Alg©rie et montra qu'il savait de quoi il parlait. Research Paper? Encourag© par les convives, Forestier proposa les services de Georges M. Competition Bad Essay? Walter . Research? Celui-ci lui donna rendez-vous le lendemain et lui demanda un article sur l'Alg©rie au plus vite. Good Bad Essay? Georges sentit que la roue tournait et qu'il faisait sa place dans le monde du journalisme . Lao Tzu Paper? Plus assur©, il engagea la conversation avec Clotilde puis se rapprocha de Mme Walter, encourag© par Mme Forestier. Short Opinion Essay? Heureux de cette nouvelle vie, il rentra chez lui. Lorsqu'il se mit ©crire, son inspiration de la journ©e s'©tait ©clips©e et rien ne sortait. Lao Tzu Research? D©courag©, il se mit r©fl©chir sa situation d'infortun©, et au taudis qu'il occupait.
Mais rien ne venait. Essay My First Day Of? Il se rem©mora ses parents, l'Afrique, il rЄvassa puis se coucha. Paper? Emplit d'esp©rances, il se leva tґt le lendemain mais resta nouveau sur une page blanche. Leo Rosten Essay About? Il se d©cida alors aller demander de l'aide Forestier . Lao Tzu Research Paper? Celui-ci le dirigea vers sa femme. Clinical Internship Essays? Elle le re§ut en peignoir dans son bureau, le fit asseoir, le questionna sur son sujet puis lui dicta son article. Lao Tzu? A la fin de cette dict©e surprenante, elle lui ordonna de la signer.
Puis elle engagea la conversation sur Mme de Marelle et l'informa qu'elle ©tait mari©e. Hobby? Il commen§ait appr©cier la compagnie de Mme Forestier, quand le Comte de Vaudrec les interrompit. Research? Georges, intimid©, prit cong©. Shopping Hobby? Il gagna la Vie Fran§aise pour son rendez-vous. Lao Tzu Paper? Voyant la fille d'attente, il demanda voir Forestier. Essay? Celui-ci l'introduisit dans le bureau de M. Lao Tzu? Walter qui ©tait en pleine partie de cartes. Psychology Internship? Rapidement, il l'embaucha et accepta son article . Lao Tzu Paper? Forestier ramena Georges dans son bureau et lui expliqua ses fonctions et les ficelles du m©tier.
Chapitre 4 de la Partie 1 - R©sum© Bel-Ami. Le lendemain, Georges se leva tґt , impatient de voir la publication de son article dans la Vie Fran§aise. Leo Rosten About Happiness? Fier de son nouveau statut, il d©missionna des chemins de fer du Nord et empocha sa derniЁre paie. Research? Heureux de cette publication, il se faisait un plaisir de montrer qui il ©tait. Psychology? Il se rendit ensuite la Vie Fran§aise o№ Charles Forestier les envoya (lui et St Potin) glaner des informations pour un article sur la colonisation anglaise. Research Paper? St Potin lui parla de tous les acteurs du journal en n'oubliant pas de les critiquer. Competition Good? Puis il expliqua Georges que Madeleine ©tait la ma®tresse de Vaudrec. Paper? Georges ©chauff©, mit fin la conversation. Lorsqu'il rentra ©crire son second article, rien ne vint. Short Opinion? Il se d©cida alors retourner voir Madeleine, le lendemain. Lao Tzu Paper? Mais lorsqu'il se pr©senta chez les Forestier, il ne put avoir son aide, d©vou©e Charles.
Contrari© par cet impr©vu et par la r©action m©chante de Charles, Georges rentra chez lui et ©crivit rapidement son article. Hobby? Le soir, il retourna aux Folies-BergЁres o№ il rencontra Rachel et passa la nuit avec elle. Research? Le lendemain, il constata que son article n'avait pas ©t© publi©. Competition Good? Celui-ci fut refus©, mesure que Georges le r©©crivait. Paper? Il d©cida de laisser cela de cґt©, privil©giant le travail pour Forestier. About School? Dans sa quЄte d'informations, il rencontrait de plus en plus d'individus hauts plac©s . Septembre - Georges continuait son travail , mais regrettait la lenteur de sa r©ussite. Paper? Il n'attendait que de connaitre des femmes du monde qui lui permettraient de s'©lever. Klabjan? En outre, Forestier ne se conduisait plus en ami avec lui et il n'osait plus aller voir Madeleine. Lao Tzu Paper? Il se rappela de Clotilde et lui rendit visite plusieurs fois.
Laurine ©tait de plus en plus conquise par ce jeune homme et Clotilde lui proposa de diner avec les Forestier, le samedi suivant. About School? Georges se r©jouissait de ce repas et son attirance pour elle augmentait. Lao Tzu? A ce d®ner, Georges conquis les deux femmes en introduisant le thЁme de l'amour aux discussions, tandis que Forestier semblait de plus en plus malade. Diego Klabjan Dissertation? Les esprits se mЄlaient mais Charles fut pris d'une crise de toux et voulut rentrer. Lao Tzu Paper? Georges raccompagna Clotilde et se jeta sur elle pour l'embrasser. Competition Good Bad Essay? Elle se d©fendit puis se laissa aller.
Le lendemain, lors du rendez-vous qu'elle lui avait donn©, ils s'embrassЁrent et elle mit de la distance entre eux, ©vitant ainsi le scandale. Lao Tzu Paper? Pour se retrouver seuls, elle viendrait le lendemain chez lui. Clinical Psychology Internship Essays? Laurine continuait d'appr©cier cet homme qu'elle appela Bel-Ami . Clotilde d©cida de louer un appartement pour leurs rencontres afin d'Єtre plus l'aise et moins visibles. Paper? Puis le temps passant, ils sortirent plus souvent ensemble dans Paris, si bien qu' force d'escapades, Georges se retrouva sans argent. Internship Essays? Presque tous ses amis lui avaient fait cr©dit. Lao Tzu Paper? Il fut oblig© de refuser une de leurs sorties et dut lui faire croire qu'il n'avait plus de sous car il en avait prЄt© son pЁre. Essay About Happiness? Elle fut encore plus amoureuse, et usait de stratagЁmes pour lui mettre des piЁces dans ses poches. Research Paper? Mais un jour o№ Clotilde voulut aller aux Folies-BergЁres, tout bascula. Diego Klabjan Dissertation? L -bas, ils rencontrЁrent Rachel qui, vex©e de l'attitude de Georges, clama leurs ©bats. Lao Tzu Paper? Humili©e, Mme de Marelle ne voulut plus le revoir. Chapitre 6 de la Partie 1 de Bel-Ami.
Georges se sentit triste d'avoir perdu Clotilde , mais son besoin d'argent ©tait plus fort . Competition Good? D'autant plus fort, qu'au travail, Forestier lui menait la vie dure. Lao Tzu Research Paper? Il se d©cida alors rendre visite Madeleine dans le but de la s©duire et d'humilier Charles. Shopping Hobby? Cependant, elle lui fit comprendre qu'ils resteraient bons amis. Research Paper? Dans cette perspective, elle lui conseilla d' aller s©duire Mme Walter pour avoir un poste sup©rieur la Vie Fran§aise. Clinical Psychology Internship? AprЁs quelques ©changes, il se rendit chez Mme Walter, un samedi aprЁs-midi. Lao Tzu Research? Silencieux dans un premier temps, il fit remarquer, par la suite, aux femmes pr©sentes, son esprit aff»t©. Elles l'appr©ciЁrent beaucoup et il fut trЁs vite promu au rang de chefs des Echos et invit© d®ner chez les Walter. Essay? Il ©tait trЁs fier de ce changement de situation et sentait la fortune venir. Lao Tzu Paper? Chez les Walter, il rencontra leurs deux filles. Short Essay? Mais il fut surpris par la venue de Clotilde.
Ce fut elle qui engagea la conversation et fit disparaitre son malaise. Lao Tzu Research Paper? A la fin du d®ner, ils se donnЁrent rendez-vous le lendemain. Leo Rosten? Georges raccompagna Norbert, qui se mit discuter de la vieillesse et de la mort qui le guettait et lui conseilla de profiter de la vie. Lao Tzu Paper? Le lendemain, Clotilde l'informa que son mari rentrait et que, pour le voir elle lui proposait de d®ner avec lui et les Forestier , la semaine suivante. Short Opinion Essay? Lors du repas, on research paper, s'inqui©ta de l'©tat de sant© d©grad© de Charles. Shopping Hobby? Sur ordres du m©decin, les Forestier partirent dans le Sud pour la gu©rison de Charles. Le d©part de Forestier pour le Sud amena Georges avoir plus de poids la Vie Fran§aise.
Mais arriva le moment de la critique et Georges fut controvers© par un journaliste de La plume. Lao Tzu Paper? Si bien que par ses obligations envers M. Short Opinion Essay? Walter et pour la r©putation du journal, il dut se d©fendre dans un duel en armes contre ce journaliste. Lao Tzu? Le soir pr©c©dent le combat, Georges fut pris d'angoisses et ne dormit pas de la nuit. Klabjan Dissertation? Le matin, Rival et ses deux t©moins vinrent le chercher pour l'emmener au duel. Lao Tzu Research? Georges tentait de se concentrer pour ne pas se laisser envahir par la peur. Klabjan? Mais, les tirs pass©s, ni Georges, ni l'autre journaliste ne furent touch©s. Lao Tzu Paper? Duroy, se sentit alors invincible. Psychology? L'amour de Clotilde pour Georges s'©tait endurci avec ce duel. Lao Tzu Research? Elle ne voulait plus le quitter, mais la pr©sence de son mari la contraignait ne plus le voir aussi souvent. Leo Rosten? Georges d©cida de s'installer dans leur appartement rue de Constantinople , et lui jura de n'y emmener aucune autre femme qu'elle.
Elle accepta et l'invita un diner avec son mari qui voulait le revoir. Chapitre 8 - R©sum© de Bel-Ami (Maupassant) La vie continuait pour Georges, qui ©voluait rapidement dans son m©tier et voyait Clotilde r©guliЁrement. Research Paper? Mais un jour, il re§ut une lettre de Madeleine l'informant que Charles vivait ses derniЁres heures et qu'elle avait besoin de son soutien au plus vite. Happiness? AprЁs accord de M. Research? Walter, Georges se r©solut descendre Cannes , veiller son ami.
Quand il arriva, il constata l'©tat irr©m©diable de Charles, qui pourtant, en le voyant, reprit du dynamisme. Opinion? Mais cette ©nergie fut de courte dur©e et quelques jours plus tard, Charles d©c©da . Paper? Cette disparition fit prendre conscience Georges, du temps qui filait et de sa propre mort. Essay About My First? Il se rappela de la discussion qu'il avait eue avec Madeleine, qui ©tait d©sormais veuve. Lao Tzu? Il r©it©ra alors son souhait de se marier avec elle et ainsi de s'associer l'un et l'autre, leur r©ussite r©ciproque. Shopping Hobby Essay? Elle lui demanda de r©fl©chir ce choix, l'avertissant de son caractЁre ind©pendant. Paper? Ils se donnЁrent rendez-vous Paris. Chapitre 1 - R©sum© de la partie 2 de Bel-Ami. La vie parisienne de Duroy continuait sans heurts, lorsqu'il re§ut un t©l©gramme de Madeleine, l'informant de son retour sur Paris. Diego Dissertation? Il la rejoignit et comprit qu'elle avait accept© sa demande. Research? Leurs rencontres restЁrent discrЁtes jusqu' ce que le deuil de Charles soit termin©.
Puis Madeleine proposa Georges de se marier le 10 mai et de profiter de tout cela pour anoblir son nom : Georges Du Roy de Cantel . Good Bad Essay? Il informa Clotilde de son mariage en lui expliquant qu'il aurait pr©f©r© l'©pouser. Paper? Mais celle-ci resta boulevers©e. Essay? Un mariage simple et civil les unit et ils partirent aussitґt pour Rouen rendre visite aux parents de Georges. Research? Durant ce long trajet, Georges tenta de se rapprocher de Madeleine , malgr© sa froideur. My First School? Arriv©s Rouen, ils rencontrЁrent M. Research Paper? et Mme Duroy, vieux paysans bourrus. Short Opinion? Madeleine fut plus surprise que pr©vu (c'est elle qui avait forc© Georges l'emmener chez ses parents) et se sentit r©ellement mal l'aise en leur pr©sence. Research Paper? Sa belle-mЁre, par son attitude, lui faisait comprendre qu'elle n'acceptait pas le choix de son fils. Competition Bad Essay? Elle poussa Georges mettre fin leur s©jour. Pour tout savoir de Bel-Ami, t©l©chargez maintenant la fiche de lecture dans son int©gralit© !. Vous devez Єtre connect© pour pouvoir lire la suite. Cette ann©e, certains d'entre vous passeront le Bac ES 2018 en candidat libre.
B. Le Baccalaur©at est un examen trЁs redout© par les lyc©ens. Lao Tzu? Entre r©visions et s. Les Sciences en s©rie Economique et Sociale font parties des ©preuves anticip©es. Durant votre Terminale ES, vous aurez le choix entre 2 sp©cialit©s de SES (et un.
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clc transcript CLARCOR (CLC) CEO Chris Conway on Q2 2015 Results - Earnings Call Transcript. Jun. 18, 2015 1:33 PM • clc. CLARCOR Inc. (NYSE:CLC) Q2 2015 Earnings Conference Call.
June 18, 2015 11:00 AM ET. Tom Lawrence - Founding Partner, DVL Seigenthaler. Christopher Conway - Chairman, President and CEO. David Fallon - Chief Financial Officer. David Janicek - Corporate Controller. Jim Giannakouros - Oppenheimer and Company. Brian Drab - William Blair.
Brian Sponheimer - Gabelli Company. Richard Eastman - Robert W. Baird. Larry Pfeffer - Avondale Partners. Nick Prendergast - BBT Capital Markets. Good morning ladies and gentlemen.
Thank you for standing by. Welcome to the CLARCOR Inc. Second Quarter 2015 Earnings Conference Call. Today’s conference call is being recorded. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. Instructions will be provided at that time for you to lao tzu paper, queue up for short, questions. It is research paper, now my pleasure to competition bad essay, turn the conference over to Mr. Tom Lawrence of DVL Seigenthaler. Please go ahead, Mr. Lawrence.
Thank you. We appreciate your interest in lao tzu paper, joining us on leo rosten essay about happiness CLARCOR's conference call to discuss results for the second quarter of 2015. By now everyone should have received a copy of the news release that was distributed yesterday. If anyone does need a copy, it is available on CLARCOR's website at www.clarcor.com or you can call Niki Giacchina at paper, 615-244-1818, and essay my first day of she will send you a copy immediately. Before I turn the call over to Chris Conway, CLARCOR's Chairman, President and lao tzu research CEO, I remind you that all statements made in the news release and during this conference call, other than statements of historical facts, are forward-looking statements. Shopping Essay! These statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company believes that its expectations are based on research paper reasonable assumptions. However, these forward-looking statements involve known and essay about my first day of school unknown risks, uncertainties and other important factors that could cause the Company's actual results, performance or achievements, or industry results, to differ materially from the Company's expectations of future results, performance, or achievements expressed or implied by these forward-looking statements. In addition, the Company's past results of operations do not necessarily indicate its future results. Finally, we want to let people know that the information statements made during the research paper, call are made as of the date of the call, June 18, 2015. Those listening to any replay should understand that the passage of time by itself will diminish the good bad essay, quality of the lao tzu, statements.
Also the shopping essay, contents of the call are the property of the Company, and the replay or transmission of the lao tzu, call may be done only with the consent of CLARCOR. It's now my pleasure to diego dissertation, turn the call over to Chris Conway for his opening remarks. Thank you, Tom and thank you, Cynthia. Research! Good morning and thank you for joining us today. With me are David Fallon, our Chief Financial Officer; and David Janicek, our Corporate Controller.
After a few opening remarks, I'll turn it over to David Fallon to review our financial results in more detail. After David's remarks, I'll add some additional remarks before we open it up to questions. We reported record diluted earnings per share of $0.76 or 12% growth in earnings per share for the quarter after the close of trading yesterday. This compares to $0.68 for competition good bad essay, last year’s second quarter. Net sales increased 3%, or $13.2 million resulting from the influence of $23.1 million, or 6% in aggregate new sales from our strategic acquisitions of Stanadyne’s fuel filtration business and the addition of Filter Resources to our oil and gas business. We did face headwinds in several of our end-markets as well as being impacted unfavorably by changes in foreign currencies. Research! As we indicated in competition, the press release, there were purchase accounting and deal-related costs in 2014 second quarter related to the GE Stanadyne and Bekaert acquisitions last year. Lao Tzu Paper! So we provided a table showing adjusted non-GAAP results to help sort through these costs to understand the underlying business performance absent these costs. Sales in our Engine/Mobile segment increased 9% driven by 16% growth in competition good, our U.S. business offset by a 4%, reduction in paper, international sales.
The U.S. sales reflect the impact of our Stanadyne acquisition as well as 18% growth in our independent distribution aftermarket resulting from a significant new customer and channel development. Excluding this new customer, sales in our independent engine aftermarket declined from short essay last year’s second quarter. Sales in our Industrial Environmental business remained flat with mixed results depending on the various markets we participate in. Gas Turbine sales declined 22% primarily due to several large first-fit systems shipped in last year’s second quarter. But our oil and gas business grew 8% on continued strong natural gas vessel sales in research, the US, as well as strong sales in Asia-Pacific and essays certain European markets. Our remaining businesses all performed roughly equivalent to last year from a sales perspective with the exception being our packaging business which saw a 7% sales growth and an operating margin of 10.1%. Now, I’ll turn it over to David to review more financial details before I highlight some key accomplishments for the quarter. Thanks, Chris.
In the lao tzu paper, beginning of competition May, we filed an 8-K with the SEC which referenced challenging conditions through the first two fiscal months of our second quarter in lao tzu research paper, our heavy duty engine filtration business including sales to leo rosten essay happiness, our independent aftermarket OE customers in certain international markets which were also negatively impacted by changes in average foreign currency exchange rates. These challenging conditions continued through the month of May and despite a lack of great go forward visibility in our heavy duty aftermarket, we anticipate that these conditions will continue into our second half of 2015. Despite these second quarter headwinds, we were still able to grow consolidated net sales by 3% including 6% related to recent acquisitions and 1% organically, partially offset by a negative 4% foreign currency impact. As Chris mentioned in our earnings release, our second quarter top-line growth despite these various macroeconomic and research paper industry issues, is a testament to our successful execution upon our long-term strategic growth initiatives including our recent acquisitions and our penetration into new distribution channels in our heavy duty engine filtration business. Second quarter net sales in our Engine/Mobile segment increased 9% from last year’s second quarter, primarily driven by additional sales from the Stanadyne acquisition, but offset by foreign exchange and a 1% reduction in organic sales. Leo Rosten Happiness! These lower organic sales included a 9% decline in international markets and a 4% increase in domestic markets primarily due to paper, an 18% increase in our US independent aftermarket, which was heavily influenced by the addition of the new customer referenced in the earnings release.
Without these new customer sales which have exceeded our initial expectations, our independent afte3rmarket would have declined from last year’s second quarter, we believe as a result of general destocking at our customers most noticeably at some of our larger independent distributors. We realize there are conflicting industry and economic statistics that either support or counter the top-line challenges we have experienced in the second quarters, but we believe industry not completive dynamics are driving the recent domestic softness which is somewhat consistent with the recent narratives from some of our competitors. As potential further evidence that recent headwinds were likely based upon broader industry dynamics, we have also experienced a relatively significant reduction in year-over-year second quarter sales to other filter companies after experiencing solid growth in the first quarter. The 9% reduction in second quarter Engine/Mobile international organic sales excluding the Stanadyne acquisition and psychology internship foreign exchange was primarily driven by a 23% reduction in research, heavy duty sales in China and a 14% decline in export sales. Lower filtration sales in clinical essays, China which are primarily on road first-fit are inline with the 25% year-to-date reduction in diesel engine and commercial vehicle manufacturing there. We believe significant economic uncertainty remains in China. Lao Tzu! Accordingly, we do not expect a significant recovery in that market of the remainder of the year.
The 14% reduction in heavy duty export sales improved in the first quarter, but these sales are still running significantly behind expectations heading into the year. Shopping Essay! This softness is partially related to the stronger dollar, but we also have customer concentration in this market and as mentioned in our earnings release, one of our larger export customers has reduced orders this year, we believe based upon its end-market demand, notably in the Middle East. Sales in our Industrial Environmental segment were relatively flat from last year’s second quarter as 1% organic growth and 3% growth from acquisitions were completely offset by changes in foreign currency exchange rates. The broad explanation for organic growth of 1% in this reporting segment is that, oil and gas organic growth was almost completely offset by lower organic sales in our gas turbine market with other industrial environmental markets being relatively flat on a combined basis. Organic growth in our oil and lao tzu paper gas business was driven by strong natural gas filtration vessel shipments worldwide, notably in the US and Southeast Asia offset by continued lower offshore oil drilling filtration sales. Our year-to-date oil and gas filtration sales have been materially in line with our expectations heading into the year based upon visibility to competition, a solid backlog at year-end. We still anticipate full year organic growth in lao tzu, excess of 10% in competition, our oil and lao tzu research gas market but there is some uncertainty in about my first school, our second half as it relates to lower oil prices and the timing of vessel shipments in research paper, the fourth quarter. Organic gas turbine filtration sales declined almost 20% from last year’s second quarter. This reduction was driven by a 45% reduction in hobby essay, first-fit filter and lao tzu paper system sales, offset by a 25% increase in the aftermarkets. Leo Rosten Happiness! Lower gas turbine first-fit sales were somewhat driven by timing as more than half of lao tzu our first-fit sales should come in the fourth quarter with over 85% of good bad essay that in book backlog.
We continue to be pleased with our ongoing progress and growing our higher margin gas turbine aftermarket where sales increased by 25% from last year’s second quarter and 26% year-to-date after growing 35% last year. We anticipate this strong aftermarket growth to continue into the second half of the year with expected full year sales increasing 25% to 30% from lao tzu 2014. Consolidated second quarter operating margin of 14.7% declined slightly from last year’s adjusted operating margin of 14.9%. However, this year’s second quarter operating margin was favorably impacted by a $1.8 million gain on sale of an asset in our industrial environmental segment. Excluding this gain, second quarter operating margin of 14.3% would have declined 60 basis points from last year’s second quarter adjusted figure. This lower consolidated operating margin was primarily the result of clinical internship a reduction in our Engine/Mobile segment which was unfavorably influenced by lower organic sales and paper related lower absorption of fixed manufacturing and administrative costs. In addition, our Engine/Mobile segment was negatively impacted by several somewhat discrete expenses including foreign currency transaction losses, additional warranty expense from a 2014 claim, and a loss on disposal of fixed assets. Second quarter operating margin at our industrial environmental segment, 11.3% excluding the essay day of school, $1.8 million gain on sale was relatively consistent with the adjusted operating margin from last year’s second quarter. Finally, we have reduced our 2015 diluted earnings per lao tzu, share guidance from 3.25 at the midpoint to 3.075 at the midpoint. These lower expected earnings were primarily driven by lower anticipated results at essay, our Engine/Mobile segment including reduced sales between $25 million and $30 million and a related 100 basis point reduction in our full year Engine/Mobile operating margin due to lower absorption of fixed costs. Our lowered expectations for Engine/Mobile sales are driven by the assumption that a significant portion of the recent headwinds we experienced in both our international and research domestic markets will continue into the second half of the year.
With that said, I turn it back over to Chris. Thank you, David. Essay Day Of! Moving to some of this quarter’s highlights, I specifically want to discuss some of the paper, longer-term corporate initiatives we are investing in to grow the company and improve profitability. We have previously discussed the shopping, formulization of lao tzu our continuous improvement efforts via the CLARCOR management system, a means of standardizing our methods of management and implementation of lean techniques across the company, we are well along with this effort and I am pleased to report that we have trained over 300 employees, conducted numerous improvement workshops and achieved some significant early results. We’ve seen an increased emphasis on safety, reduced set up times in clinical psychology internship, critical work centers, achieved cycle time and inventory reductions and improved maintenance and lao tzu research up time on shopping hobby important work centers. Most of all, I continue to be impressed by the excitement and engagement of our employees in moving us forward in this effort. All of this is aimed at improving service and quality to our customers and eliminating ways throughout our operations thereby improving profitability.
Our investments in RD continue to advance and generate impact. Our oil and gas research center in Texas has helped us secure new customers generated new breakthrough products and is a source of lao tzu paper cross-company collaboration for good, filter media development. Much of the work in this center is focused on improved treatment of natural gas at various stages of the supply chain from separation of solids and water at lao tzu paper, the wellhead to treatment solutions needed at klabjan dissertation, gas processing operations before the paper, gas moves into interstate pipelines and all of these show that we are active in the early stages in the treatment of natural gas, but also we are treating produced water that comes from about happiness natural gas production and in research, removing undesirable chemicals in natural gas. Our new CLARCOR innovation center in hobby, Tennessee is under construction and slated for paper, full operational capability by the end of this year. Meanwhile, we are not standing still with that group actively involved in accelerating projects working with our various businesses. Our emphasis at this center will be to develop new filter media technologies, introduce advanced manufacturing technologies across the company and conduct accelerated product development in conjunction with our businesses.
Current focus includes developments in school, advanced air and fuel filtration, along with continued advancement of lao tzu paper our proprietary next generation nano fiber technology. Finally, we continue to develop our international footprint with the shopping hobby essay, opening of CLARCOR India, near Pune, India, south of Mumbai. Lao Tzu Research Paper! We will operate a shared service concept in India with the initial emphasis being existing in-country engine filtration that we acquired as part of the Stanadyne’s acquisition. This will soon be followed by waste water treatment and industrial air filtration. Staffs are on essay board and paper we have an experienced leader in India who joined us with previous Greenfield start-up experience in about my first day of, both India and China in his background.
These are a few examples of the lao tzu research paper, investments we are making for the long-term growth and profitability of the company. We will now open it up for questions. [Operator Instructions] We will take our first question from Jim Giannakouros with Oppenheimer and Company. Please go ahead. Good morning, Jim. Good morning, Jim. Question on shopping hobby Engine/Mobile margin. You are guiding to flattish and I understand that you are pointing to fixed cost absorption issues. We have been hearing about that for a little – quite sometime now and so, I guess, if you can get a little granular, well, first, what type of organic growth do you need to get leverage there?
And I guess, a second point, are there efficiency gains that potentially could be a driver at margin expansion at lao tzu research, either production or distribution facilities? To answer your last question first, eventually, there will be the bad essay, ability to leverage some of these fixed costs that we’ve added recently. Lao Tzu Research! But as you know, I think most people know, we are bringing our distribution center online here in the fourth quarter and that probably will be in an additional headwind as it relates to margin expansion in Engine/Mobile. We focus on growing that business organically in dissertation, the mid single-digits. We believe that we are able to successfully hit those growth targets that as we exit 2016, we should start to see margin expansion there at Engine/Mobile. I think, for the full year this year, we are projecting 3% organic growth that that includes the lao tzu research paper, benefit of the new customer after growing organically 6%. Essay My First Day Of! So, mid single-digits is certainly a target that we think is research, very achievable and klabjan we believe that we exit the second half of next year that we’ll start to see expansion there.
Got it. Okay, and one more if I may. Research Paper! Just to hobby essay, better understand the timing of lao tzu research paper shipments both of gas turbine and at PECOFacet, let me start at PECO, I know, David I apologize if I may have missed it in your prepared remarks, but did you outlined how you think the vessel shipments are to shopping hobby essay, track in research, the second half 3Q versus 4Q? Yes, just quickly touching upon good bad essay, both of those markets. Research! The gas turbine is a little bit of a longer cycle than natural gas. Competition Good Bad Essay! So we have a little bit better visibility with system sales and lao tzu research gas turbines. If you look at diego dissertation, our projected system sales and lao tzu paper gas turbine, virtually 100% of that is booked for shopping hobby, the third quarter and over 85% is booked for the fourth quarter.
So, we certainly have better visibility and there is research paper, somewhat greater certainty with that sales flow for gas turbines. For natural gas, we are guardedly optimistic. I would say over 85% of leo rosten happiness our third quarter backlog is booked and just over 50% of our fourth quarter backlog is booked with pretty good certainty for the remainder of the projected sales in the fourth quarter. Lao Tzu Research Paper! So, if we were to handicap those two markets related to uncertainty, there is probably a little bit more uncertainty related to timing in natural gas. Clinical Internship Essays! But the gas turbine numbers are pretty solid. We will take our next question from lao tzu Brian Drab with William Blair. Please go ahead. Good morning, Chris. Good morning, David.
Good morning, Brian. Just following on that last question, what’s affecting the diego dissertation, timing of those natural gas vessel shipments specifically? Is it kind of unexpected as they are related to energy prices? What’s driving that? I think, it’s a mix, part of it is energy prices, especially in some of the international markets, we have projects where they may delay from one quarter to the next. Some of it is lao tzu research, just natural project creep in terms of getting the happiness, project brought on site and lao tzu research paper started up. But, in the US, I think, we’ve got more confidence in the US and probably more uncertainty around some of the international projects. Okay. Thanks. In the past, you’ve talked about your oil and gas business being roughly $300 million business, I guess a little under $300 million and the part that we are most concerned about, I believe it’s about shopping hobby $50 million that was tied to upstream activity. So, would you say that maybe we are seeing pressure from lower energy prices affecting business outside that $50 million piece a little bit more than you would have thought a few months ago?
I would say, it’s kind of bottomed out. Paper! I don’t think we see significant continued deterioration. One part of that is offshore sand control business and we think that’s kind of leveled out where it is klabjan dissertation, right now, significant drop certainly, but we don’t see that degenerating any further at this point. Okay. Thanks. And then, on gas turbine, second quarter, how was the second quarter relative to your expectations? I would say, our performance in gas turbine year-to-date is very much inline what we expected at the beginning of the year. Yes, okay, okay. Lao Tzu Research Paper! And then, can you talk just a little bit more about that disparity that you are seeing between the short essay, first-fit and aftermarket performance in gas turbine and what’s driving that great performance in the aftermarket? As you know, the gas turbine systems sales are fairly lumpy. The aftermarket is a little bit more stable month-to-month and quarter-to-quarter.
Over 50% of our first-fit sales and when we speak to first-fit, we are referring to not only the system sales but the first-fit filters that go into a system that we are selling or that go into a system that someone else has sold to lao tzu research paper, an end-customer. Over 50% of those first-fit sales should occur in the fourth quarter and that explains the almost 40% to 45% reduction in system sales we had year-to-date. The aftermarket is my first day of school, a little bit of a better flow business. A lot of the lao tzu, traction that we are getting in the aftermarket is competition, related to our clear current pro product and we referenced that in recent calls. That is a product that is getting significant market acceptance and has allowed us to lao tzu research, put these very significant growth numbers over the last 18 to 24 months.
The other thing I’d say, Brian, that there is a little bit of understanding is that, our first-fit systems on gas turbines are not exclusively tied to the large frame systems that are spread across to a broader spectrum that includes offshore natural gas which is the original part of the Altair business that GE bought years ago. Psychology Internship! Lot of offshore and more discrete mobile or smaller stationary units than maybe some of the larger frames. So, while we see those swings, it can tend to be certainly influenced by the big systems, but you have projects that span across the broad spectrum of different installations. All right. Thanks. So, you were talking about kind of the distributed power, or the research, power generation that you have on oil platforms and that’s another piece that could be impacted by energy prices. Shopping Essay! Is that a fair way to think about it? Yes, yes it could be. And how much of the paper, – of gas turbine is that roughly or how much of the first-fit business is that relative to the big projects?
David, you can look here. Yes, it differs depending on the year. I would say, roughly this year, oil and gas system sales are probably between 20% and 25% of our total sales. Okay. And, of that – I am trying to diego klabjan dissertation, get the break down between the big projects and lao tzu research paper the smaller projects within gas turbine and opinion first-fit. Lao Tzu Paper! Is that the number you gave me David? For oil and gas, yes. Of the, roughly $50 million this year we are having in gas turbine first-fit sales, I would say between 20% and 25% is related to oil and essay gas. I am with you. Lao Tzu Paper! Okay and then just one quick last one. The retail customer you say is ramping faster than expected.
I mean, this is a great win. I am just wondering, is it just ramping toward the same kind of run rate target that you had in mind or is clinical internship essays, it maybe the opportunity bigger than expected? I think it is lao tzu paper, leveling out now at the run rate target we expected. Certainly, the customer has ongoing growth expectations and at this point, we are not baking any of those in, but there could be upside to what we are seeing. Thanks, very much. We will take our next question from Brian Sponheimer with Gabelli Company. Please go ahead.
Hi, good morning guys. Good morning, Brian. Good morning, Brian. Just to spend some time within Engine/Mobile and talk about what you are seeing, maybe market-by-market on-road versus, say the construction, mining, Ag markets and potentially what may have decelerated, particularly on the on-road side? We’ll tackle the off-road first, that’s probably a little bit more clear. Our probably most significant exposure on shopping the off-road is related to the Stanadyne acquisition. It’s virtually a 100% off-road, especially in the US.
The most notable decline in that business is on the Ag side. Research! John Deere is a pretty significant customer there. I think their year-to-date Ag equipment sales are down about good bad essay 25%. That business however is about 80% aftermarket, 20% first-fit. Our first-fit assembly sales year-to-date are down about 20%. So pretty much inline with what Deere has seen. But our aftermarket because of the research paper, dynamics in the Ag end-markets is also down probably close to 10% on a year-to-date basis. So Ag, very clearly is a challenged market at this point in time. Sales to some of our other OE customers including construction and mining construction still has performed fairly well.
I would say, mining is shopping hobby essay, probably down. So, the research, overall picture for off-road probably isn’t positive at this point in time. When you look at diego dissertation, our on-road business, which is the traditional Baldwin business, that’s probably a puzzle that’s a little bit more challenging to decipher. Lao Tzu Research Paper! We clearly have seen broad based pressures, meaning that the dynamics we are seeing is not concentrated into a particular class of customer. Although, some of our larger distributors have seen larger declines in what we have seen with some of shopping essay our smaller distributors. Lao Tzu Paper! But if you were to remove the impact of the clinical, sales from the new customer, very broadly base our aftermarket domestic business, which is probably 60% on-road was down in the low single-digits. And as I mentioned, that is pretty broad based. It’s both small and large distributors. You guys get the sense that that’s more driven by lao tzu paper broader economic activity or just potential better use of shopping hobby essay inventory by lao tzu paper the distributors? I think it’s a combination of both of those factors. Specifically, a couple of our larger customers are definitely adjusting inventory destocking and essay my first day of right-sizing their inventory.
But I think, everybody started out lao tzu research, slow in the first part of the year and diego klabjan I think, just now starting to lao tzu research paper, come around and adjust in some of the essay about happiness, markets. All right. I appreciate that. Thank you. [Operator Instructions] And we will go next to research paper, Richard Eastman with Robert W. Shopping! Baird. Please go ahead. Yes, good morning, Chris, Dave.
Good morning, Rick. Can I just ask a quick question, if I kind of make an lao tzu paper adjustment on Stanadyne to the full, maybe a full quarter revenue number, it looks like perhaps, $27 million-ish, which seems like an awfully – that seems like a good number. Short Opinion! What was the op profit in this quarter on lao tzu Stanadyne? What was their contribution there? The operating margin in the second quarter was about short opinion 22% to 23%.
Okay, so, some improvement and presume maybe it was at volume or mix, sequential improvement, because we are still kind of trying to work towards 24%, 25% on research paper that revenue, correct? Yes, it’s certainly was related to volume and absorption, but there was an offset. We had an additional warranty claim based on an event from 2014 that we recognized in the second quarter. Without that, that claim, we probably would be closer to the 25%. Okay, all right. And then, also, so, I am trying to sift through the klabjan, numbers, for the second half, this domestic aftermarket business on the Engine/Mobile side, it would appear that you are expecting that to paper, rebound.
Again, I think the history suggests that maybe a third quarter of contraction in essay my first day of school, the inventory levels at distributors is lao tzu paper, somewhat unheard of. So are you expecting… I’d agree with that. I would agree with that. We do expect a bit of a rebound. I think we are trying to remain a little bit cautious based on what we have seen here. Yes. And then, can I just ask a quick question on opinion essay PECO?
Excluding the acquisition, was there growth in that business in lao tzu research paper, the quarter? There was on an organic basis. So that business is probably more impacted by foreign exchange than our other global businesses. The impact of foreign exchange, the negative impact of foreign exchange and the positive impact from the Filter Resources acquisition almost offset one other one-to-one. So, the GAAP sales growth is essentially same as the diego dissertation, organic sales growth. Okay, I see. Research! All right. And then just, maybe one last question, when we pull the about happiness, guidance down here, we kind of expect, we expected to do so. If I look at the low-end, the $1.59 billion of revs and the three bucks in EPS, can you just rank the risk factors there that would generate the low-end versus, say midpoint? I mean, I am thinking that there is some risk here in this big fourth quarter shipment timing on the gas turbine side.
Yes, both gas turbine and lao tzu research paper vessels. Those totally slipped out on us. That would have and then Engine/Mobile run rate driving to a continued to level that we saw at the end of Q2, so. Okay, so, if we don’t have the recovery on the aftermarket US business in Engine/Mobile, but the school, other two factors, really the timing on lao tzu research the vessel shipments and the gas turbine systems, that really couches or supports the low-end there? Okay. Okay, great. Thank you. [Operator Instructions] We’ll go next to essay, Larry Pfeffer with Avondale Partners. Research! Please go ahead. Good morning gentlemen. Good morning, Larry.
So, just again on the on-road exposure, did you see the de-stocking gather pace over leo rosten essay, the second quarter and into research paper, June or was it kind of just a steady kind of clinical psychology internship essays low single-digit decline throughout the quarter? It gathered pace as we – from the lao tzu research paper, entrance to opinion essay, the quarter to the end of the quarter. Okay and lao tzu research paper then, I mean, I know it’s early into short essay, June, but just any indication on what you are seeing early here in the third quarter? It’s very consistent with what we saw in May. Okay and then on the Stanadyne business, I know you guys kind of gave the breakdown on lao tzu research paper where first-fit and clinical psychology internship essays aftermarket were in the first half of the lao tzu research, year there. Do you expect any change in the rates of decline for the old Stanadyne business here as we move into the second half? No, I don’t think so. And I think, you read some of the Ag projections from the major Ag companies and we kind of expect to mirror what they are indicating.
Okay and then, just lastly on the – sorry, I heard a little feedback there. On the share repurchase side, you guys are still sitting there with a solid balance sheet. About Day Of School! Are you thinking anything more than offsetting dilution here as we move into the back half of this year, in the next year? At this point, I think, our strategy is consistent with what it’s been in the past and it’s just offset dilution. We will be opportunistic depending on share price and availability of capital.
But, there is no reason to expect anything other than just to offsetting dilution for the remainder of the year. Okay. Thank you, gentlemen. Best of luck in lao tzu paper, the quarter. All right. Thank you, Larry. Thank you, Larry. We will go next to Nick Prendergast with BBT Capital Markets.
Please go ahead. Hi, good morning. I just wanted to klabjan dissertation, clarify just one thing real quick on your guidance table where you have your estimated sales growth here. I am assuming this is all in including acquisitions, but not including FX, is that the correct way to look at it? Or is that everything – all included? It is GAAP, it is all in. That’s all in, so it includes your acquisitions, your FX, all your $45 million of FX and paper everything? Okay. All right. About! Thank you. And gentlemen, it appears we have no further questions.
Mr. Conway, I’ll turn the lao tzu research, conference back over to you for any closing comments. Okay, thank you for diego klabjan dissertation, your attention and lao tzu research paper interest in our results this quarter and we’ll look forward to talking to clinical psychology essays, you next quarter. Lao Tzu! Thank you. This does conclude today's conference call. At this time, you may disconnect. This article is for PRO members ONLY! Get Access to this article and 15,000 exclusive PRO articles from $200/m. Interested in upgrading to PRO?
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