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1Z0-605 exam Dumps Source : Siebel 7.7 business Analyst Core

Test Code : 1Z0-605
Test name : Siebel 7.7 business Analyst Core
Vendor name : Oracle
: 125 actual Questions

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Oracle Siebel 7.7 business Analyst

Microsoft and Siebel methods Optimize Siebel company functions On Microsoft .net | killexams.com actual Questions and Pass4sure dumps

REDMOND, Wash., and SAN MATEO, Calif., Oct. 7, 2003 — Siebel programs Inc. and Microsoft Corp. today introduced unique deployment alternatives for conventional utility network (UAN) making exhaust of Microsoft BizTalk® Server 2004 as a runtime engine and utensil set for customization. The corporations too previewed unique Microsoft® .internet-primarily based smart client expertise, providing abysmal integration with the Microsoft workplace gadget and Microsoft trade Server 2003 within everyone hosted and nonhosted Siebel deployments. These choices are expected to further the growth of the Microsoft home windows®platform — one of the crucial quickest-starting to be systems for Siebel deployments — within the Siebel installed base by using providing consumers with leap forward utility integration, person productiveness and scalability.”The integrated items announced nowadays expose how the Siebel and Microsoft reply allows for purchasers to everyone of a sudden and value-simply install the most suitable enterprise options,” renowned imprint Armenante, group vp, Alliances, Siebel techniques. “Working together during the eventual 12 months, Siebel and Microsoft hold developed .internet-based mostly solutions prerogative through their client, server and integration product stacks in order to assist organisations react to enterprise change and recognize improved cost from their know-how investments.”

UAN, BizTalk Integration

Siebel systems and Microsoft are offering aid for celebrated application network with Microsoft BizTalk Server, enabling the swift and cost-effective deployment of pass-application, business-certain business processes both inside and beyond the commercial enterprise. Microsoft BizTalk Server executes UAN business integration strategies and UAN ordinary functions, providing static cross-referencing, dynamic move-referencing, and error and exception managing. Microsoft developed a UAN Extensible Stylesheet Language Transformation (XSLT) importer, which masses base prebuilt UAN transformation and validation maps into Microsoft BizTalk Server transformation gear and allows for integration with lower back-workplace applications (comparable to these from SAP, Oracle, PeopleSoft and others). at the moment accessible by course of a joint early adopters software, UAN business integration methods for the communications, media and power industries, carried out on BizTalk Server, give an agile and budget friendly approach to connect employees, companions and consumers to crucial enterprise facts.

smart customer, Microsoft workplace system Integration

The organizations are delivering a brand unique Siebel sensible customer, taking talents of the Microsoft .net Framework and superior integration with the Microsoft office device. in addition, Siebel 7.7 will embrace more advantageous integration with both Microsoft workplace 2003 and Microsoft alternate for cellular competencies employees. Siebel 7.7 will permit clients to link Microsoft office Outlook®2003 records to facts within the Siebel database, and the Siebel alternate Connector will allow users to synchronize calendar guidance, contacts and to-do lists between Siebel 7.7 and Microsoft exchange. further calendar options should be available by course of the Outlook View manage embedded in Siebel 7.7.

“by means of embracing .internet, enterprise applications can meet the expanding demands for interoperability, sooner deployment and tighter integration with the client that at the selfsame time drive value for the business,” renowned Sanjay Parthasarathy, company vice president of the Platform manner and ally community at Microsoft. “The Microsoft-Siebel alliance continues to construct on platform advances that convey a brand unique measure for economics and performance consequently offering business clients a actual competitive capabilities.”

support for windows Server 2003

Siebel methods and Microsoft too are providing Siebel utility aid for Microsoft windows Server (TM) 2003, furthering the dedication to supply valued clientele with business-category scalability and efficiency at a low complete cost of ownership. The Microsoft home windows platform is quiet among the quickest-becoming systems for Siebel deployments.

in addition to the integrated options combining Microsoft .internet with Siebel UAN and sensible client, the organizations hold lately completed a 30,000-concurrent-consumer benchmark for Siebel company purposes. The benchmark turned into carried out on the Intel Itanium 1-based Unisys enterprise Server ES7000 Orion one hundred thirty running the sixty four-bit versions of Microsoft home windows Server 2003 Datacenter version and Microsoft SQL Server (TM) 2000 commercial enterprise edition. Siebel 7.5.2 certification of SQL Server 2000 (sixty four-bit) on windows Server 2003 was additionally achieved. in keeping with the outcomes of this benchmark, it is clear that companies effect not hold to sacrifice the advantages of a single, expandable server atmosphere to gleam the fiscal benefits of specifications-based mostly computing with Microsoft and Intel technology.

Siebel programs and Microsoft elevated their international strategic alliance ultimate yr, with the aim of delivering the primary commercial enterprise solutions that would entirely exploit internet functions to fulfill the demands of nowadays’s corporations. nowadays’s announcement particulars principal milestones in the alliance’s aim of supplying the top-rated business options for the bottom complete permeate of possession. The organizations’ multimillion-dollar advertising funding, far-reaching go-to-market strategy, and comprehensive set of integrated capabilities and resources deliver skilled information everyone over the complete consumer life cycle, from product comparison and preference to setting up, deployment and ongoing protection.

About Siebel methods

Siebel methods Inc. (Nasdaq “SEBL”) is a leading issuer of enterprise applications application, enabling organizations to sell to, market to, and serve consumers across discrete channels and contours of enterprise. With more than 3,500 customers international, Siebel systems offers groups with a confirmed set of trade-particular gold measure practices, CRM purposes, and business processes, empowering them to constantly carry superior client experiences and establish greater ecocnomic consumer relationships. Siebel systems’ sales and service amenities can be create in additional than 30 nations.

About Microsoft

founded in 1975, Microsoft (Nasdaq “MSFT”) is the international chief in software, services and information superhighway applied sciences for private and enterprise computing. The business presents a wide array of items and services designed to empower individuals through extraordinary software — any time, anywhere and on any equipment.

Microsoft, BizTalk, windows, Outlook and windows Server are both registered logos or trademarks of Microsoft Corp. in the u.s. and/or different nations.

Siebel is a trademark of Siebel techniques Inc. and might be registered in obvious jurisdictions.

The names of actual companies and items outlined herein could be the logos of their respective homeowners.

be conscious to editors: if you hold an interest in viewing additional information on Microsoft, tickle talk over with the Microsoft internet web page at http://www.microsoft.com/presspass/ on Microsoft’s company counsel pages. web links, phone numbers and titles had been germane at time of book, however may too when you account that hold modified. For extra information, journalists and analysts can too contact Microsoft’s quick Response group or different acceptable contacts listed at http://www.microsoft.com/presspass/contactpr.asp .

Oracle to purchase Siebel for $5.85B | killexams.com actual Questions and Pass4sure dumps

long island (CNN/money) - Oracle Corp. is purchasing Siebel programs in a money and stock deal valued at $5.eighty five billion, the organizations announced Monday.

Shareholders of Siebel (analysis) will receive $10.66 a share in either cash or Oracle (analysis) shares for each and every of their shares, a top class of 17 p.c from Friday's closing cost.

Shares of Oracle slipped automatically after the announcement, but hold been up about 30 cents, or about two percent, to $13.fifty eight in pre-market buying and selling on Inet simply earlier than the market open, while shares of Siebel received $1.22, or about 13 %, to $10.35 a share.

Siebel is a number one issuer of consumer relationship administration (CRM) application used by using groups to automate income and clients service operations. probably the most issues that made it such an attractive takeover goal is a powerful stability sheet, with $2.24 billion in money, money equivalents and short-time era investments accessible. That decreased the web cost of the proposed deal to Oracle to $three.6 billion.

whereas the proposed expense is a solid premium, it is barely above the $10.sixty one at which the inventory opened the yr. The inventory took a hit in July when it stated break-even second-quarter outcomes, in preference to the anticipated income of two cents a share. It too reduced revenue and salary tips for the latest quarter that time.

Even at the proposed buy price, shares are most effective value a yoke of tenth of the cost of the inventory five years ago, almost immediately after a September 2000 two-for-one stock nick up.

Bert Hochfeld, analyst with Hochfeld impartial research community, renowned the deal is a distinguished one for Oracle, one which should permit it to add to revenue per share within a quarter or two after the purchase closes. And he referred to that the fee paid is definitely a pretty satisfactory one for Siebel shareholders.

"Siebel wasn't going to exchange at $10.50 on its own lifestyles for the leisure of your knowledgeable existence," he pointed out.

The deal has long been rumored and executives with both agencies said that talks of a deal were happening for someday, despite the fact they didn't supply an in depth time line. They said that the deal turned into pushed through essential company consumers who wanted to spy a extra built-in suite of software items.

"shoppers haven't been demure about giving us their opinion," mentioned Charles Phillips, Oracle co-president, in a name with analysts.

Oracle said that no more than 30 percent of Siebel shares may be purchased the usage of Oracle stock, and that if extra Siebel shareholders than that wish Oracle shares, shares could be dispensed on a pro-rated basis. Oracle too intends to repurchase an equal variety of its own shares that it uses within the deal.

it is the second most famous purchase of another utility company with the aid of Oracle within the remaining one year, but this one is far more friendly than the adverse bid it used to buy PeopleSoft in a deal that closed in January.

Siebel's board of administrators voted in prefer of the transaction, and Thomas Siebel has agreed to vote his shares in prefer of the acquisition. The deal is zone to shareholder and regulatory approval.

Thomas Siebel, who's chairman but no longer CEO of the enterprise, owned about 10.6 % of Siebel shares within the business's most fresh proxy commentary in April. but he has been promoting Siebel shares in fresh months for less than $9.00 on regular, in accordance with SEC filings.

"What actually introduced this together is a shift in market dynamics they hold now viewed eddy up over previous three, four or five years," Siebel informed buyers. "they had desired most suitable in class applications. Now the client and ally community is speaking reasonably evidently and balloting with dollars that what they wish are integrated purposes."

Oracle CEO Larry Ellison mentioned that Oracle will proceed to be vigorous in acquisitions in the future, although it will likely grasp a pause on huge offers unless this one is accomplished.

For more technology information, click on here.  

Analyst sizes up Oracle's post-Siebel BI approach | killexams.com actual Questions and Pass4sure dumps

Oracle and other enterprise intelligence (BI) software companies offer greater elements than purchasers want or exhaust and don't offer sufficient industry-particular performance, says enterprise functions professional Joshua Greenbaum.

during this SearchOracle.com interview, Greenbaum, the essential and founding father of Daly metropolis, Calif.-based enterprise functions Consulting, sizes up Oracle's usual BI providing and explains why the Siebel purchase may additionally lead Oracle down a greater "verticalized" BI route going ahead.

Greenbaum, who has been tracking the BI market for greater than 12 years, additionally explains why he thinks the incidence of "universal-intention" BI utility is ready to wane.

How would you measurement up the BI industry as a all at the moment? What effect you notice occurring available?

Joshua Greenbaum: I account that the usual-aim BI business is operating out of steam. it's propped up via a course of reactive pressure. americans are asserting, "We must be analytical, let's buy some application." the unique frontier goes to be in totally verticalized solutions that don't even name themselves BI.

ordinary-goal BI gear at the moment are in massive-funds desolate tract and finally a person is going to awaken and say, "Why are they spending everyone of this money after they can be doing a hell of a all lot more suitable with a hell of plenty less?"

How does Oracle's current business intelligence offering stack up towards the competition?

Greenbaum: Oracle has been a sturdy player in BI. The Oracle database has been a data warehouse of option for a huge number of clients. and since Oracle applications hasten on the Oracle database, Oracle has been in a position to integrate an gargantuan quantity of enterprise intelligence without delay into the purposes.

it truly is within the context, i might add, of this disconnect between what's being delivered as analytical gear and what is in reality being consumed by means of the consumer. Oracle has been very decent at proposing loads of satisfactory systems, satisfactory technology and satisfactory analytical equipment. they're not by myself in providing extra BI than the customers are always consuming.

the Place does Oracle BI descend brief?

Greenbaum: In a one-to-one evaluation with, say, SAP, I don't account they necessarily descend brief. I censure both companies for having more tools and less direct performance. they may be both going to abhor me for saw that.

How will the Siebel acquisition hold an effect on Oracle's BI offering?

Greenbaum: Siebel did set down a highway of verticalizing its offerings and in certain its analytics. they had simplest simply began getting some momentum with those analytical applications when the merger turned into announced. I give them credit for having conception concerning the arrogate approach to solve the difficulty. The end at Oracle is that Siebel is bringing no longer simply CRM, but verticalized CRM knowing into Oracle, and that verticalization will power no longer just the transactional CRM methods however the enterprise intelligence side as well.

Let's speak a bit about grasp records management (MDM), the so-referred to as "subsequent level" of business intelligence. How captious is MDM?

Greenbaum: The all query of master data basically is a key concern within the common business intelligence world, because basically, in case you are looking to analyze very advanced traits throughout diverse company contraptions or throughout geographies, you can't reconcile your simple records. what's a client? what's a product? what's a cost? what's an employee? You can not effect apples-to-apples comparisons.

This has been an gargantuan vicissitude in the transactional world. for instance, if I exigency to up-sell or go-sell the consumer, I exigency to beget confident that i am speaking to the remedy adult and providing the arrogate kinds of items and features. but it's additionally equally actual on the analytical aspect. You exigency to be confident that in case you effect evaluation and in case you talk about [for example, a problem with one of your suppliers] that alternative ways that corporation could be generic in diverse systems hold been reconciled so that IBM Corp., IBM and overseas company Machines are everyone understood to be the equal company. in case you cannot hold a master facts management gear that may reconcile those, you are simply no longer going to pick up satisfactory statistics, and hence you might be going to effect a very negative analysis.

Does Oracle hold an honest address on MDM?

Greenbaum: Oracle is chummy with it. they hold got done a lot of drudgery with their statistics hubs to are attempting to bridge some of those gaps. fundamentally, the really challenging a fraction of everyone here is now not necessarily the underlying expertise, or not it's really on the human stage and sitting down with the business and [deciding upon definitions]. or not it's even harder if you pick up into very advanced environments dote retail and consumer product goods where they're extremely really good.

Is it famous for DBAs to gain analytical expertise?

Greenbaum: I believe that a DBA who takes the time to grasp into account the company such that they will too be one of the vital links between the company [and data] can be very, very helpful. In different phrases, a DBA who will too be a perpendicular zone expert and offer some simple statistical features can hold a lot to present, as a result of at the conclusion of the day, a very satisfactory DBA probably is conscious of the facts improved than any enterprise analyst.

this article at the start seemed on SearchOracle.com.

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Siebel 7.7 business Analyst Core

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The Zacks Analyst Blog Highlights: Intel, Texas Instruments, Xilinx, Lam Research and ASML | killexams.com actual questions and Pass4sure dumps

For Immediate Release

Chicago, IL –February 4, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts argue the latest word and events impacting stocks and the fiscal markets. Stocks recently featured in the blog include: Intel INTC, Texas Instruments TXN, Xilinx XLNX, Lam Research LRCX and ASML Holding N.V. ASML.

Here are highlights from Friday’s Analyst Blog:

Semiconductor Earnings Scorecard: INTC, TXN, XLNX & More

There are signs that the semiconductor cycle has peaked driven by softening in smartphone and PC demand. The next wave of growth for semiconductors will approach from things dote cloud computing, simulated intelligence, smart cities, IoT, 5G and auto. Some of the current claim is already aligned with expansion in these markets, but we’re just nascence to scratch the surface of that potential.

Whether the claim from these markets can offset the cyclical slowdown is an open question and the reply will unfold through this year and the next. In the meantime, the current slate of earnings shows that there are few safe bets with Xilinx being an outlier.  

Intel: Zacks Rank #3 (Hold)

Revenue of $18.657 billion was short of the estimated $19.01 billion. EPS of 1.28 was ahead of the estimated $1.22. By segment: CCG up 9.7% (52.6% revenue share), DCG up 8.7% (32.5%), IOTG down 7.2% (4.4%), NSG up 24.5% (5.9%), PSG up 7.7% (3.3%), other up 27.6% (1.2%).

The revenue miss, weaker-than-expected DCG revenue, cautious tone and disappointing guidance were concerns. The lower-than-expected revenue was attributed to weaker orders coming out of China because of a slowing economy. But management too said that macro issues including the trade war with China, the government shutdown and Brexit made them incrementally cautious for the leisure of the year although a relative improvement should be expected in the back half when unique products including the first 10nm chips are scheduled to ship.

CCG wasn’t in the spotlight but the business which accounts for more than half of Intel’s revenue, benefited from stronger ASPs that more than offset the repercussion of softer volumes.

Result: The Zacks Consensus Estimates for the March and June quarters are down 4 cents (9.4%) and 4 cents (3.8%), respectively.

Texas Instruments: Zacks Rank #4 (Sell)

Texas Instruments topped the Zacks Consensus rate on the bottom line while slightly missing on the top line. Management attributed the miss to slowing claim for semiconductors overall (not unexpected given waning claim for smartphones and PCs and ongoing trade tensions with China).

The earnings beat was mainly because the high-margin analog business remained strong, helped by 5G deployments at telecom customers. Industrial and auto were too good. Plus the company continues to transition from 200mm to 300mm, which helped it lower cost. An offsetting factor was lower factory utilization to maintain optimal exhaust of cash in the softening claim environment.

One of the more celebrated measures management takes is returning 100% of FCF to shareholders. In 2018, FCF jumped 30% to $6.1 billion and management returned $7.7 billion in share repurchases and dividend.

Guidance disappointed, sending the Zacks Consensus rate down 10 cents (8.1%) and 9 cents (7.1%) for the March and June quarters, respectively.

Xilinx: Zacks Rank #1 (Strong Buy)

Xilinx beat the Zacks Consensus on both top and bottom lines helped by double-digit growth across business segments. In Data Center, The FPGA-as-a-Service (FaaS) model is gaining momentum with AWS, Huawei and Alibaba. unique design wins for its FPGA products included Samsung. In Communications, 5G related spending helped revenue across Korea, China and North America.

SoC revenue is benefiting from the Zync platform that offers ARM technology (software programmability), Xilinx FPGA (hardware programmability) and I/O programmability. force in Advanced Products came from 28nm and 20nm categories. What’s more, it too guided better than expected. Result: The Zacks Consensus Estimates for the March and June quarters are up 12 cents (14.6%) and 8 cents (9.6), respectively.

The reasons for particular optimism around Xilinx that will continue in quarters ahead are first, with Intel snapping up Altera, the only other major FPGA player, everyone rivals feel affinity to Xilinx; second, the company has a solid strategy based on some compelling products that will drive continued expansion in its revenue and profits, even in a difficult market such as this.

Story continues

The recently announced 7nm Versal, for instance, is the first product in its adaptive compute acceleration platform (ACAP), which is a highly integrated multi-core heterogeneous compute platform enabling hardware-level flexibility suitable for machine learning, substantial data applications, cloud computing and more.

On the discrete level, its recently-launched Alveo enables acceleration in industry measure servers. fling in the Zync platform and wrap it up with the FaaS model, and it’s clear that this company is going places.

Lam Research: Zacks Rank #3 (Hold)

Lam’s reported revenue and earnings of $2.52 billion (in-line with the Zacks Consensus) and adjusted earnings of $3.87 (beat by 5.5%) are illustrative of a slowing semiconductor cycle. unique CEO Tim Archer’s commentary supports the view: "While near-term market trends reflect adjustments after a era of tremendous growth in semiconductor demand, I am confident that their focus on Deposition and Etch technology leadership as well as growth in their installed-base business positions us well for the long term."

Memory, which accounts for more than half its revenue, will be meaningfully lower this year, as Chinese spending tapers off after a era of sturdy builds. The memory business will be driven by the exigency to lower cost: DRAM shifting to lower nodes, NAND shifting to 96-layer devices. Foundry and logic, weighted to the first half, will be stronger.

The Board of Directors approved a $5 billion share repurchase program, and given its low valuation both with respect to the S&P 500 and peer group, this might be a satisfactory time to buy back some shares.

Result: The Zacks Consensus Estimates for March and June quarters are down 21 cents (6.2%) and 65 cents (16.5%), respectively.

ASML Holding N.V.: Zacks Rank #3 (Hold)

This European maker of advanced lighting systems used in the semiconductor manufacturing process beat on both the top and bottom lines. The satisfactory word is that claim out of China remains sturdy according to management. The heinous word is that some customers pushed back orders from the first half into the second because of terminate market softness. Result: The Zacks Consensus rate for the March and June quarters are down $1.47 (73.1%) and $1.00 (49.0%), respectively.

While management expressed aplomb in its growth in 2020 and said that 2019 would too be a growth year albeit backend loaded, order pushouts due to terminate market softness is never a satisfactory thing. There could be more pushouts, who knows? That said, the company has some pretty substantial customers in Intel, Samsung, TSMC and the like; management said that the first DRAM customers would be using its systems this year; and China is very unlikely to ramp down its semiconductor capacity builds. So let’s notice how the year shapes up.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of everyone technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a unique breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to pick up this free report Texas Instruments Incorporated (TXN) : Free Stock Analysis Report Intel Corporation (INTC) : Free Stock Analysis Report ASML Holding N.V. (ASML) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

Skechers (SKX) Q4 2018 Earnings Conference convoke Transcript | killexams.com actual questions and Pass4sure dumps

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Skechers (NYSE:SKX)Q4 2018 Earnings Conference CallFeb. 7, 2019 7:30 a.m. ET

  • Prepared Remarks
  • Questions and Answers
  • Call Participants
  • Prepared Remarks:


    Greetings and welcome to Skechers fourth-quarter and full-year 2018 earnings conference call. [Operator instructions] As a reminder, this conference is being recorded. I would now dote to eddy the conference over to Skechers. You may begin.

    Unidentified speaker

    Thank you, everyone, for joining us on Skechers conference convoke today. I will now read the safe harbor statement. certain statements contained herein, including without limitation, statements addressing the beliefs, plans, objectives, estimates or expectations of the company for future results or events may constitute forward-looking statements within the signification of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known and unknown risks, including but not limited to global, national and local economic, business and market conditions in common and specifically as they apply to the retail industry and the company.

    There can be no assurance that the actual future results, performance or achievements, expressed or implied, by such forward-looking statements will occur. Users of forward-looking statements are encouraged to review the company's filings with the U.S. Securities and Exchange Commission, including the most recent annual report on profile 10-K, quarterly reports on profile 10-Q, current reports on profile 8-K, and everyone other reports filed with the SEC as required by federal securities laws for a description of everyone other significant risk factors that may impress the company's business, results of operations, and fiscal conditions. With that, I would dote to eddy the convoke over to Skechers' Chief Operating Officer David Weinberg and Chief fiscal Officer John Vandemore.


    David Weinberg -- Chief Operating Officer

    Good afternoon and thank you for joining us today to review Skechers fourth-quarter and full-year 2018 fiscal results. With me on the convoke is John Vandemore, Skechers' chief fiscal officer, who will argue their fiscal results in detail. They achieved a unique fourth-quarter sales record of $1.08 billion, an 11.4% enlarge over eventual year. This was the result of their international business increasing 17.9% and their domestic business increasing 4.1%.

    On a constant-currency basis, their sales growth for the quarter was 13.7%. Their record fourth quarter follows three prior quarters of record sale, which resulted in a unique annual sales record of $4.64 billion. The growth came from a 19.2% enlarge in their international business and a 3.5% enlarge in their domestic business. In addition to the record sales, fourth-quarter highlights embrace earnings from operations of $83.7 million, a 50% increase; diluted earnings per share of $0.31; a 4.8% sales enlarge in their domestic wholesale business; a 7.5% sales enlarge in their company-owned retail stores; and 18.4% sales enlarge in their international wholesale business; the result of double-digit increases in their international distributor, subsidiary, and joint venture businesses; expanding their Skechers retail network to 2,998 stores worldwide, including the opening of 11 unique company-owned stores and 195 third-party stores; breaking ground on their unique distribution and logistics headquarters in China; and repurchasing 1.7 million shares of Class A common stock.

    Highlights for the full year embrace record sales of $4.64 billion, diluted earnings per share of $1.92, atrocious margins of 47.9%, international representing 54.2% of their sales, record shipments from their distribution centers in North and South America, Europe, and Japan, maintaining their position in the United States as the No. 1 walking, work, casual lifestyle, and casual dress brand, and repurchasing 3.7 million shares of Class A common stock. They believe four quarters of record sales and record annual earnings of $1.92 per diluted share are a significant achievement. The key to their success was their diverse product offering, which allowed us to expand their compass into more style accounts in 2018, and their diverse distribution, which offered numerous unique growth opportunities.

    These opportunities included the launch of e-commerce sites in India and by their distributor in Russia as well as improving the infrastructure of their digital e-commerce capabilities in the United States. They are quiet a relatively adolescent brand in developing markets with distinguished opportunities in regions dote Latin America and Eastern Europe as well as in high-growth international countries including China, India, and Mexico. In 2019, their focus will be on continuing to drive sales with unique product offerings and pile their brands in international markets. Now, turning to their business channels in detail, their domestic wholesale business increased 4.8% for the fourth quarter and 0.8% for the full year.

    Domestic wholesale atrocious margins increased 140 basis points for the quarter and were flat for the full year. For the year, they maintained their position in the United States as the No. 1 walking, work, casual lifestyle and casual dress brand, and moved up to one position to be the third-largest footwear brand in the United States according to SportsOneSource. They saw their force across several categories such as men's USA and women's performance, BOBS and work, and in numerous styles such as Skechers D'Lites and men's slip-on.

    To advocate their domestic business, they ran multiple marketing campaigns and add the following commercials during the holiday season: for women, a Skechers D'Lite campaign, Skechers Sport and Skechers GOwalk Joy; for men, sport and casual slip-on spots, starring Tony Romo, and sport and casual wide-width footwear featuring Howie Long; for kids, they ran commercials on children's programming for their lighted footwear and Twinkle Toes; and on golf broadcast and networks, their retrograde GOLF spot featuring their elite ambassadors, including Matt Kuchar, who is already a two-time Champion this season. They consistently develop unique products to meet the needs of their growing consumer base and adjust to changes in trends. They hold begun shipping spring 2019 product and are looking forward to sell-throughs for spring as well as account relations -- or reactions to their unique autumn/winter 2019 collection. International wholesale remains their unique largest distribution channel and continues to portray the largest share of their total sales at 44.3% in the fourth quarter.

    Our international wholesale business increased by 18.4% for the quarter. This enlarge was the result of double-digit growth in their subsidiary, joint venture, and distributor businesses. China contributed significantly with gains of 21.5% or 27.2% on a constant-currency basis. Their international sales, including both wholesale and retail, increased 17.9% for the quarter and 19.2% for the year, and represented over 55% of their sales in the fourth quarter.

    Further detailing their international growth, for the quarter, their wholly owned international subsidiary business grew by 14.4% and their joint venture wholesale business by 19.5%. For the quarter, the significant dollar gains came from Germany, Spain, Japan, and Peru within their subsidiaries, and China, India, Malaysia, and Singapore within their joint ventures. China remains the largest country within their international portfolio with an annual sales enlarge of 29.1% and approximately 22.8 million pairs shipped in the full year. At the nigh of the year in China, they had 876 Skechers freestanding stores, a total of 2,390 points of sale and a 53% enlarge in their annual online sales.

    To advocate their growing business, they broke ground on an approximately 1.6 million-square-foot distribution headquarters and logistics facility. The facility is expected to become operational in the second quarter of 2020. Their international distributor business increased 19.7% in the quarter, primarily due to sturdy gains from Indonesia, Russia, Turkey, and the Middle East. And despite sizable headwinds in the first half of the year, their international distributor sales increased 0.8% for the full year.

    By quarter end, there were 2,306 Skechers-branded stores owned and operated by international distribution partners, joint ventures, and a network of franchisees. In the fourth quarter, 195 third-party-owned stores opened, including their first locations in Cyprus, Northen Cyprus, and Tanzania. Additional stores opened embrace 105 in China, 24 in India, six in Australia, five each in Thailand and Taiwan, four each in South Korea and Spain, three each in Hong Kong, Indonesia and Vietnam, two each in Croatia, Honduras, Malaysia, Mexico, Norway, and the Philippines, and one each in Brazil, Canada, Cambodia, Colombia, Egypt, England, Greece, Iraq, Macau, Netherlands, Northern Ireland, Paraguay, Serbia, Singapore, Switzerland, Turkey, Ukraine, and Uruguay. 40 third-party stores closed in the fourth quarter.

    25 third-party-owned Skechers stores hold opened so far in the first quarter and three hold closed, which brings us to 2,328 third-party owned stores as of today. In 2019, they anticipate to open in excess of 500 third-party-owned Skechers branded stores in the remainder of the year. They continue to notice international as the biggest growth break for the company, which is why they hold transitioned India from a joint venture to a wholly owned subsidiary with approximately 220 Skechers retail stores, of which just over 60 are wholly owned and a unique e-commerce platform. India was one of their fastest-growing markets in 2018.

    With another 80 to 100 stores planned for 2019, they notice distinguished potential to grow their business in this country of 1.3 billion people and believe this will be accretive to their diluted earnings per share in 2019. Mexico was another attractive growth break for the Skechers brand, which is why we've reached an agreement in principle to establish a joint venture with their current distribution partner. Operating more than 70 stores today, they believe this market can advocate significant additional growth over the coming years. When complete, they believe that this transaction will too be accretive to earnings.

    In their company-owned global retail business, sales increased 7.5% in the fourth quarter, which was the result of sales increases of 3.3% on domestic retail stores and 15.9% in their international store, which on a constant-currency basis was 20.4%. Worldwide comp store sales increased 1.1% in the quarter, which was the result of a 3% enlarge in their international stores and a 0.4% in their domestic sales. For the full year, sales increased 12%, which was the result of an enlarge of 7.7% in their domestic retail stores and 21.2% in their international stores. Domestically, their atrocious margins increased by 450 basis points in the quarter and by 160 basis points for the full year, due to improved pricing and a lessen in promotional activity.

    Our domestic e-commerce business continued to grow in 2018 by 8.9% for the quarter and 11.6% for the year. They anticipate to launch improved functionality, accessibility and user interfaces this year and too roll out company-owned sites in more countries. At year-end, they had 692 company-owned Skechers retail stores, of which 222 were outside the United States. In the fourth quarter, they opened 11 stores, five in the U.S., four in the UK, and one each in Peru and Italy.

    We too remodeled five stores, relocated five stores, and expanded three locations. To-date in this first quarter, they hold opened two stores and closed four, bringing us to 690 company-owned stores. In 2019, they anticipate to open approximately 70 to 80 stores, not including the India stores that we'll be opening, and remodel, relocate or expand an additional 20 to 30 existing stores. Now I'll eddy the convoke over to John to review their financials.

    John Vandemore -- Chief fiscal Officer

    Thank you, David. In the fourth quarter, sales increased 11.4% over the prior year to $1.08 billion and represented a unique fourth-quarter record for the company. It is especially gratifying that this growth was driven by contributions from each of their business segments. International wholesale increased 18.4%, which included a 19.5% enlarge in their joint ventures, a 19.7% enlarge in their distributor business, and a 14.4% enlarge from their wholly owned subsidiaries.

    Company-owned global retail same-store sales increased 7.5%, the result of a 3.3% enlarge in domestic retail, including e-commerce, and a 15.9% enlarge in international retail. Domestic wholesale increased 4.8%. On previous calls, they highlighted their expectation that alien exchange rates would become a headwind in the fourth quarter of 2018 and the front half of 2019. For the quarter, alien exchange rates negatively impacted sales by $22.3 million or roughly 230 basis points of growth.

    Total sales on a constant-currency basis grew 13.7% year over year. atrocious profit was $515.7 million, up $61.6 million compared to the prior year. And atrocious margin increased over 90 basis points to 47.7%. This improvement was attributable to stronger domestic wholesale and retail margins, which were partially offset by the negative repercussion of alien currency exchange rate.

    SG&A expenses grew $32.1 million or 7.9% this quarter. Within that, selling expenses decreased $2.1 million to $61.8 million or 5.7% of sales, which was a 90-basis-point improvement from 6.6% of sales in the prior year. common and administrative expenses were up $34.2 million to $375 million. As a percentage of sales, this was a 40-basis-point improvement from 35.1% in the prior year to 34.7% this quarter.

    The dollar enlarge reflects volume gains internationally as well as continued investment in their long-term global growth initiative. This included $8.8 million to advocate continued double-digit growth in China. It too included an enlarge of $9.4 million in retail from 47 additional company-owned Skechers stores worldwide, of which 11 opened in the fourth quarter and $9.7 million related to domestic and corporate operations, including increased distribution-related costs driven by higher volume. Earnings from operations increased 50.4% versus the prior year to $83.7 million.

    Operating margin improved 200 basis points to 7.7% versus 5.7% in the prior year period. Their income tax rate for the quarter was 18.4%, compared with 194.4% in the prior year period. As a reminder, their prior year rate included the repercussion of the then recently enacted Tax Cuts and Jobs Act. Excluding the discrete repercussion of that tax law change, their prior year income tax rate would hold been 12.2%.

    Our current year effective tax rate reflects their final assessment of the repercussion of the Tax Cuts and Jobs Act. They anticipate their effective tax rate for 2019 to be between 14% and 18%. Net income for the fourth quarter was $47.4 million or $0.31 per diluted share on 155 million shares outstanding, compared to a net loss of $66.7 million or $0.43 per diluted share on 156.1 million shares outstanding in the prior year period. In December 2017 they recorded an income tax expense of $99.9 million, representing $0.64 per diluted share due to the enactment of the Tax Cuts and Jobs Act.

    Excluding that discreet tax item, their adjusted net earnings in the fourth quarter of the prior year were $33.3 million or $0.21 per diluted share. Therefore, on an adjusted basis, their current year net income and earnings per diluted share grew 42.3% and 47.6%, respectively. During the fourth quarter, they acquired approximately 1.7 million shares of their Class A common stock at a cost of $42 million, representing an unprejudiced price of $25.22 per share. Since announcing their share repurchase program eventual year, they hold acquired almost 3.7 million shares at a cost of $100 million, representing an unprejudiced price of $27.34 per share.

    At December 31, 2018, $50 million remained available under their existing repurchase authorization. As they hold stated before, they remain confident in the force of their equipoise sheet and their faculty to fund their growth initiatives while continuing to return cash to shareholders. Their actions this past year reflect that aplomb as well as their solid belief that Skechers' recent share price meaningfully undervalues their current earnings and cash stream profile as well as their long-term growth prospects. And now turning to their equipoise sheet, at December 31, 2018, they had $1.07 billion in cash, cash equivalents, and investments, which was an enlarge of $312.2 million or 41.4% from December 31, 2017.

    Our cash and investments represented approximately $6.94 per diluted share outstanding at December 31, 2018. Trade accounts receivable at quarter terminate were $501.9 million, an enlarge of $96 million from December 31, 2017. And their DSOs, as of December 31, 2018 were 36 days versus 32 days in 2017. Total inventory, including merchandise in transit, was $863.3 million, a lessen of 1.1% or $9.8 million from the prior year period.

    This reflects their diligent management of inventory levels globally while fulfilling the requirements for their growth expectations and expanded retail store base. Long-term debt was $88.1 million compared to $71.1 million at December 31, 2017, primarily reflecting borrowings associated with the construction of their unique distribution headquarters in China. Working capital increased $114.2 million to approximately $1.62 billion versus $1.51 billion at December 31, 2017, primarily reflecting higher accounts receivable levels as well as increased cash and investment balances. Capital expenditures for the fourth quarter were approximately $45.6 million, of which $19.3 million related to the construction of their distribution headquarters in China, $15.9 million related to 11 unique company-owned domestic and international store openings and six store remodels, and $8.3 million related to their international wholesale operations.

    In 2019, they anticipate their capital expenditures to be approximately $275 million to $300 million. This includes an additional 70 to 80 company-owned retail stores, and 20 to 30 store remodels, expansions or relocations. This too includes the construction of their unique distribution headquarters in China, enhancement to their existing distribution centers in the United States and Europe, and the expansion of their corporate headquarters in California. Now turning to their guidance.

    We currently anticipate first-quarter sales will be in the orbit of $1.275 billion to $1.3 billion and net earnings per diluted share will be in the orbit of $0.70 to $0.75. This guidance takes into account the repercussion of the existing foreign-exchange headwinds and a shift in some sales from the first to the second quarter due to the timing of Easter this year. It includes the estimated repercussion of their investments in India but does not embrace the benefit of their pending joint venture in Mexico. It is too famous to point out that in eventual year's first quarter, they benefited from a discreet tax detail associated with the implementation of the Tax Cuts and Jobs Act, which represented $0.07 per diluted share.

    We currently anticipate no such repercussion in the first quarter of 2019. I will now eddy the convoke back to David for closing remarks.

    David Weinberg -- Chief Operating Officer

    Thank you, John. In 2018, they achieved several records, most importantly, record annual sales of $4.64 billion, record operating income as well as record shipments from their distribution centers in North and South America, Europe, and Japan. Their growth in the year came despite alien currency headwinds, economic, and political challenges in several markets and tough comparisons due to the force of their sales in 2017. They believe the growth is attributable to their diverse product range, which is focused on style, comfort, quality, and innovation at an affordable price.

    We are pleased that the year brought growth in both their tradition looks as well as newer looks from Skechers Cali, BOBS from Skechers, men's sport and casual among others. They continue to invest in their brand through the opening of Skechers retail stores, ending the year at 2,998 companies company-owned and third-party-owned stores. With the opening of stores in the first quarter, they now hold more than 3,000 Skechers stores around the world. Further, they are planning to unveil a fully upgraded Skechers e-commerce site in the United States and several other countries in the second half of 2019.

    We continue to believe international holds the greatest growth potential, and to this end, this week they completed the repurchase of the minority stake of their India joint venture, transitioning it to a subsidiary and are in the process of transitioning their Mexico distributor to a joint venture. They believe these efforts will be accretive to earnings. As always, they will remain focused on efficiently growing their business and are pleased that their efforts resulted in both record annual sales and earnings in 2018 and believe they can continue to achieve sturdy results in 2019. And with that, I would dote to eddy the convoke over to the operator to initiate the question-and-answer portion of the conference call. 

    Questions and Answers:


    [Operator instructions] Their first question comes from the line of Laurent Vasilescu from Macquarie Group. tickle proceed with your question.

    Laurent Vasilescu -- Macquarie Group -- Analyst

    Good afternoon. Thanks for taking my questions. Congrats on solid results. I wanted to supervene up on the China numbers.

    They looked particularly sturdy in the fourth quarter. How effect they mediate about China for 2019?

    David Weinberg -- Chief Operating Officer

    Well, they notice continued growth and while it's in their numbers and guidance for the first quarter, it's understated by the significant disagreement in currency. So, while they'll be up significant double-digits -- well, at least double digits as far as they can notice in local currency and in pairs shipped, there will only be a slight enlarge in volume unless something changes significantly. But they mediate as they retrograde through the year, the currency will sort of not hold as distinguished an repercussion and will continue to expose significant double-digit growth as they paddle into the equipoise of the year.

    Laurent Vasilescu -- Macquarie Group -- Analyst

    Very helpful. And then on atrocious margins, John, maybe you can embolden us maybe walk to the drivers of the fourth-quarter atrocious margin and how effect they mediate about the first-quarter atrocious margin?

    John Vandemore -- Chief fiscal Officer

    The fourth-quarter atrocious margins were sturdy on the back of, as they said, domestic wholesale and retail performance. As they hold mentioned previously in the retail environment, they had reduced some discounting activity and taking some limited pricing. That continues to power through the retail business, and they performed exceedingly well on a atrocious margin basis. They too saw conducive trends in their domestic wholesale business, both in terms of unprejudiced price up and then costs down.

    So, they saw satisfactory amalgamate trends there. The offset, as they mentioned, was foreign-exchange, but again satisfactory solid performance on the margin basis going through their domestic businesses, which I mediate speaks to the health overall of their domestic businesses, when you embrace both the retail and the wholesale portion. And obviously, that speaks to the health of the consumer for us, which has been performing well. As you spy at early 2019, they anticipate some modest improvement in Q1.

    It remains to be seen exactly how material that is based on mix, but they definitely anticipate some slight improvement in Q1. I would only caveat, as David mentioned, that the alien exchange rate again will continue to bedevil us over the first half of 2018 and in some of their core markets dote China where the exchange rate differential is pretty severe in the first quarter based on what they know today.

    Laurent Vasilescu -- Macquarie Group -- Analyst

    Very helpful. And then if I could squeeze one eventual one in. International G&A, I mediate just backing out, it looks dote increased by $15.9 million. Half of that is China.

    How effect they mediate about that line detail over the course of the first quarter and then potentially for the full year?

    John Vandemore -- Chief fiscal Officer

    Well, we're not going to give country-specific guidance, but I mediate what you saw in the fourth quarter was really probably more driven by volume gains. As we've mentioned before, the P&L structure of China, wherein their distribution partners are third party, there does mind to be a correlation with volume gains. So, they definitely saw that in the fourth quarter. And I would anticipate it to be roughly in line with volume gains going into 2019.

    Although again, in any given quarter they can notice timing shifts as they saw over the course of 2018, so we'd be conscientious of that as well.

    Laurent Vasilescu -- Macquarie Group -- Analyst

    Very helpful. Thank you very much and best of luck.

    John Vandemore -- Chief fiscal Officer

    Thank you.


    Your next question comes from the line of John Kernan from Cowen & Co. tickle proceed with your question.

    John Kernan -- Cowen and Company -- Analyst

    Hi. satisfactory afternoon, guys. Congrats on a nice finish of the year.

    David Weinberg -- Chief Operating Officer

    Thank you.

    John Vandemore -- Chief fiscal Officer

    Thanks, John.

    John Kernan -- Cowen and Company -- Analyst

    John, can you just embolden us understand a limited bit more about the first quarter and the implied top-line guidance, both for domestic wholesale and then the international piece as well? I mediate there is some timing around Easter that's moving numbers around as well. So just any detail you can give us there would be very helpful. Thanks.

    John Vandemore -- Chief fiscal Officer

    Yes. So I mean, and obviously, the Easter timing kindly of build a question imprint at the terminate of the quarter as to exactly how things tremble out. What they notice at the moment is probably a flat to maybe slightly down domestic environment. Again, fraction of that is timing associated with the holiday.

    Part of that is, I think, the continued retail shakeout they see. In terms of international, international will be a bit of a mixed bag. They actually anticipate following a tough Q1 eventual year that their distributor business will approach back probably be high-single-digits, low-teens kind performance and that's counterbalanced with the modest single-digit growth internationally, which I would bid you, if it were are not for foreign-exchange would be almost double because, again, they really seeing the headwinds approach in their key markets in the first half of 2019. And then, their retail business, they believe, will be a tall single-digit, maybe low double-digit number depending upon retail performance.

    We are seeing satisfactory trends thus far this year, certainly in the domestic market but there's a lot of selling to be done still. So that's, generally, how they believe it shakes out. That gives us kindly of on an unprejudiced basis, again, taking into account the FX, probably a mid-single-digit number, maybe a limited bit lower than that, maybe a limited bit higher depending on things how -- how things amalgamate out. But again that would be -- almost double that if it weren't for alien exchange.

    John Kernan -- Cowen and Company -- Analyst

    Sure. That's helpful. Thank you. I guess, when you spy to -- for a holiday for 2019, both for domestic and international -- I know you're not giving a full-year guidance, but just any detail on how those order books are starting to tremble out.

    You did exit the fourth quarter with an acceleration both in international wholesale and domestic wholesale, so one would mediate that your partners are sentiment pretty satisfactory in terms of orders for next fall?

    David Weinberg -- Chief Operating Officer

    We're prerogative in the middle of that process as they speak. They hold had very satisfactory pre-lines and very satisfactory feedback. The orders are starting to approach in now. They had a very satisfactory January on top of what was a significantly high-growth incoming order rate eventual January, so that makes it spy even more solid.

    So, we're getting satisfactory reception and we're getting satisfactory sell-throughs from the current line that's out there. So I mediate they everyone here feel very positive about this transition into descend holiday and potentially even increased acceleration as they pick up there.

    John Kernan -- Cowen and Company -- Analyst

    All right. Great. Congrats on a satisfactory 2018 and best of luck, guys.


    Our next question comes from the line of Lauren Cassel from Morgan Stanley. tickle proceed with your question.

    Lauren Cassel -- Morgan Stanley -- Analyst

    Great. Thanks so much. Maybe could you guys talk about 4Q performance within domestic wholesale by bucket? So off-price versus substantial box versus family channel, how did those different areas perform? And how are you thinking about each of those different channels to execute generally in 2019?

    John Vandemore -- Chief fiscal Officer

    Well, I could definitely talk to Q4. 2019 is a limited bit of a prognostication. I would say, generally, they saw continued trends in the off-price. Again, keep in understanding how you define off-price matters for us.

    We are looking at those that sell traditionally either liquidated inventory from others. For us it's made-for product or some in-line product that fits their pricing portfolio, they did notice continued weakness in that based on really the trend they had been seeing since Q2 although it did decline a bit. Outside of that though, generally, activity was pretty strong. Certainly, they had some exceptional items going through the holiday that performed very well and that lifted some categories for us, but generally I'd dispute outside of kindly of the off-price channel, which is again been a bit of a challenge over the back half of 2018, things were positive.

    Looking forward, they continue to see, as David mentioned, sturdy interest in the product, sturdy response from the lines that they've seen and the lines they're booking on now. However, I'd just caveat that the retail environment in United States has certainly seen its share of attrition in both stores and doors. So, I mediate that will hold an impact. What I mediate we've been very pleased with is that for their key accounts, we've seen certainly in '18 growth and early '19 satisfactory indications that they're going to continue to grow.

    Lauren Cassel -- Morgan Stanley -- Analyst

    OK. Great. Thank you. And then just within the 0.4% comp in the U.S.

    during the quarter, just any commentary on full-price versus the outlet stores there?

    John Vandemore -- Chief fiscal Officer

    Well, again, keep in understanding in the middle of the year, they decided to change approaches. In particular, and probably most pronounced, in their concept stores and if you really spy at the detail underneath the store performance, that's where you saw slightly lower comp store performance. But again, that's against the backdrop of delivering significantly better margin and actually, atrocious margins were up in every unique one of their store types. It was just -- it was most pronounced in the concept sides of things.

    So -- and again, we're incredibly pleased with that response from a fiscal perspective, and you are seeing satisfactory common activity in the domestic market, which I mediate is probably -- for us, when they mediate about the consumer, a more famous vantage point. And David mentioned the domestic business grew and when you combine the retail and the wholesale in the quarter, and that I mediate speaks to the consumer interest. Where that's going next year, quiet remains to be seen because there's a lot of selling, but we're not changing their approach and so I would probably suggest you'll notice at least in the early fraction of the year some of the selfsame trends. Again, satisfactory atrocious margin performance, and maybe that costs us a few on comp store sales points on a -- in some of their stores but, generally speaking, a very satisfactory fiscal result at the terminate of the day.

    Lauren Cassel -- Morgan Stanley -- Analyst

    OK. Thanks so much.

    John Vandemore -- Chief fiscal Officer



    Our next question comes from the line of Jay Sole from UBS. tickle proceed with your question.

    Jay Sole -- UBS -- Analyst

    Great. Thank you. I wanted to supervene up on SG&A. John, can you give us an conception of how you're thinking about SG&A dollar growth for Q1? And then also, maybe in common terms, how you're thinking about it for fiscal '19?

    John Vandemore -- Chief fiscal Officer

    Yes, again, keeping in understanding that a portion, certainly in the international side, is volume driven. It significantly depends on the top line. Basically, what they believe we'll notice in the early fraction of the year is you'll quiet notice growth in the SG&A category, but it will continue to moderate as compared to kindly of eventual year's numbers once you x out the volume gains. So, the volume drives activity and that's certainly the kindly of activity they want to see.

    We're not planning for anything drastic in kindly of a change year over year as a percentage of sales, everyone things considered maybe some shifts between buckets or between categories within the totality of SG&A. But more than anything else prerogative now, I mediate what we're aiming for is stability against the backdrop of the growth that they see. Because keep in understanding when you grow, even though an FX-adjusted growth rate is smaller, when you talk about activities dote pairs, which hold to paddle through the system, you don't always pick up the full benefit of alignment kindly of top-line behavior in the SG&A and in particular distribution-related costs. So, there's some offset there, but I would probably guide that you're looking at stability in that as a kindly of overall percentage going into the first quarter.

    Jay Sole -- UBS -- Analyst

    OK. And then maybe just to supervene up, there's been substantial investment been talked about in China headquarters, Los Angeles, that kindly of stuff. Is there -- is everyone that in the base prerogative now? And as you spy out into your budget for '19, are there any unique substantial projects whether it be commerce upgrade or some capability -- some substantial projects that might cause a jump in SG&A as you retrograde through the year?

    John Vandemore -- Chief fiscal Officer

    Yes, but not those that you've mentioned. And just to be abundantly clear, everyone the projects that they mentioned kindly of from the CAPEX side, which is everything from the distribution headquarters in China everyone the course through to consolidating their footprint here in California. Those are everyone capital projects for the year, so they won't hold a direct or not a sizable direct P&L impact. What will, ultimately, repercussion the P&L and be visible in categories dote SG&A will be when they initiate consolidating the joint venture that we've agreed in principle to profile in Mexico.

    We don't hold a satisfactory gauge prerogative now on specific timing. When they do, we'll obviously give some clarity on that. But once they initiate consolidating those results, they will grasp on board everyone the SG&A, everyone the revenue, the atrocious margin associated with that business. Again, they believe it will be accretive, but you will notice dollar gains in those categories as they on-board those costs.

    Outside of that, there's really nothing of significance I would convoke your attention to at this point in time.

    Jay Sole -- UBS -- Analyst

    OK. Got it. Thanks so much.


    Our next question comes from the line of Jim Duffy from Stifel. tickle proceed with your question.

    Jim Duffy -- Stifel fiscal Corp. -- Analyst

    Thank you. satisfactory afternoon, everyone. Very nice profitability in the quarter. Nice to notice that including the SG&A leverage.

    John, can you maybe spell out the accretion break from the India JV consolidation? My understanding is that was a business that was running nigh to breakeven, are you expecting to pick up to a leverage point there?

    John Vandemore -- Chief fiscal Officer

    Yes. So, I mean, just to be abundantly clear on India. So, it's been a joint venture, so it's been fully consolidated in their operation from the get-go. What you will notice now with the acquisition of the minority stake is lower, relative takeaway on the minority interest side of things.

    Early at the moment, but I would dispute they believe it's probably a yoke of pennies on the year. Obviously, that depends entirely on how the business performs and that is another market where they hold seen significant FX headwinds. But it's contributing, so I mediate it'll probably be a yoke of pennies on the year, maybe more if things retrograde slightly better than planned.

    Jim Duffy -- Stifel fiscal Corp. -- Analyst

    OK. And then with respect to the atrocious margin, can you speak to what you're seeing from input costs with -- pardon me, with some currency relief in China, does that suggest an break into the back half of the year?

    John Vandemore -- Chief fiscal Officer

    We're adjusting input costs on kindly of a constant basis, almost by shoe, if you will. So, they adjust that as they go. They did notice some cost alleviation in the quarter that was reflected, as I mentioned, in some of the domestic wholesale margin numbers. But I would probably remark that, generally speaking, we're not seeing a lot of positives and we're not seeing a lot of negatives.

    We are taking advantage of currencies when they can along the way. But you got to keep in understanding that, that's too bit of a double-edged sword because when the currencies paddle the antithetical direction, you don't want to give that back. So, we're conscientious of that in the context of how they develop product. So, I would dispute it's been probably a modest to slight net benefit up through this point in time, but more on a rolling basis.

    And then keep in understanding too that the style amalgamate changes, so significantly as you bring unique shoes on. It's really tough to completely compare that question apples to apples.

    Jim Duffy -- Stifel fiscal Corp. -- Analyst

    Fair enough. Thank you.

    John Vandemore -- Chief fiscal Officer

    Thank you, Jim.


    Our next question comes from the line of Sam Poser from Susquehanna. tickle proceed with your question.

    Sam Poser -- Susquehanna fiscal Group -- Analyst

    Good afternoon. Thanks for taking my questions. A yoke of things. With the Easter shift, won't that shift some of your selling expenses from Q1 to Q2, and too paddle a satisfactory amount of the DTC sales, I mean, the substantial -- will DTC be affected by that?

    John Vandemore -- Chief fiscal Officer

    So, on the second fraction of your question, yes, the direct-to-consumer sales are influenced, and we've -- they factored that into the guidance we've given as best as they can bid at the moment.

    Sam Poser -- Susquehanna fiscal Group -- Analyst

    So, I was a limited confused when you were walking through it. I mean, how they should mediate about the direct-to-consumer sales in the first quarter sort of taking that shift into account? You're sort of walking through it.

    David Weinberg -- Chief Operating Officer

    So, in the previous numbers I gave, Sam, we've already kindly of adjusted out what they believe the repercussion from the Easter shift is both in terms of the DTC numbers most significantly in their retail base and elsewhere.

    Sam Poser -- Susquehanna fiscal Group -- Analyst

    So, what I'm saw that you sort of walked through how you anticipate the domestic wholesale and international wholesale and then you add that DTC enlarge in Q1. So, I wanted to pick up a limited more clarification on -- I mediate you said something about the -- dote mid-single in Q1, but that seems a bit aggressive given the shift and the comparison gap?

    John Vandemore -- Chief fiscal Officer

    Well, again, where we're going to notice the DTC repercussion most significantly will be in their retail base. And as I've previously mentioned, they anticipate retail prerogative now for Q1 to be kindly of a tall single-digit contributor. And that includes what they believe to be the repercussion for the shift of Easter into Q2.

    Sam Poser -- Susquehanna fiscal Group -- Analyst

    So, you anticipate it to enlarge around 9% -- dote 7% to 9%, is that the course to mediate about it?

    John Vandemore -- Chief fiscal Officer

    For Q1, yes.

    David Weinberg -- Chief Operating Officer

    That includes the unique stores as well.

    Sam Poser -- Susquehanna fiscal Group -- Analyst

    Gotcha. And then secondly, when you -- when those -- when -- what is the tax rate that you're assuming for the first quarter. Is it [Inaudible]

    John Vandemore -- Chief fiscal Officer

    Yes, again, we're expecting a orbit of between 14% and 18% for the full year. It should be relatively evenly applied throughout the year absent any discrete tax items, changes in law, etc. So, I mediate at the moment, planning for a relatively flat midpoint rate is certainly a decent assumption. That being said, again, we're quiet looking for regulatory opinions on some aspects of the recently enacted tax law and how those are applied.

    But I'd say, generally, they mediate that's a responsible rate at this juncture.

    Sam Poser -- Susquehanna fiscal Group -- Analyst

    And in Q4, you -- I mean, it looks dote your U.S. profitability was at a rate higher than international. So, effect you anticipate that to continue into Q1, which would likely drive the tax rate a limited bit higher?

    John Vandemore -- Chief fiscal Officer

    No, they don't mediate there'll be a meaningful repercussion on the composition of the revenue streams in Q1 that will change that tax guidance.

    Sam Poser -- Susquehanna fiscal Group -- Analyst

    And then lastly on India, when those 200-plus stores hit your store base, how does that repercussion the sales or is that already in, it's just going to change with sales [Inaudible]

    David Weinberg -- Chief Operating Officer

    That's already in. The franchises remain franchises, the owned stores remain owned stores when you retrograde in. The substantial shift you'll notice is in the minority interest and the share of the profitability. And I would say, because there was a question that they were unprofitable through this year that the fact is that they did atomize into profitability eventual year and they anticipate that to enlarge this year.

    Sam Poser -- Susquehanna fiscal Group -- Analyst

    Thank you very much, John.

    John Vandemore -- Chief fiscal Officer

    Thanks, Sam.


    Our next question comes from the line of Jeff Van Sinderen from B. Riley FBR. tickle proceed with your question.

    Jeff Van Sinderen -- B. Riley FBR -- Analyst

    First, let me add my congratulations. And then just to clarify, you mentioned stability in SG&A in Q1, I think. effect you feel dote you hold an break to leverage as a percentage of sales later in the year?

    John Vandemore -- Chief fiscal Officer

    Yes. So just to be abundantly clear about the stability comment. I'm looking at overall SG&A as a percentage of sales. And again, keeping in understanding that a significant portion of -- in particular, the international SG&A growth you've seen recently has been volume-driven.

    Yes, they mediate they are looking for stability from a kindly of rate perspective in the early fraction of the year. I mean, there's always opportunities and we're -- they aggressively pursue those opportunities as they approach forward, but there's too risks in the business and they want to maintain the faculty to respond to those. So again, I mediate at the moment what I would probably guide you to is something that is stable as a percentage of sales to eventual year.

    Jeff Van Sinderen -- B. Riley FBR -- Analyst

    OK. honest enough. And then how should they mediate about growth? And I know India and Mexico hold been sturdy growth areas, but maybe you can handle on the growth you're expecting there in 2019 as you kindly of are transforming those. And then any investments that they should mediate about that you might exigency to beget in those regions in 2019?

    John Vandemore -- Chief fiscal Officer

    Yes, I don't want to pick up into, again, country-specific growth profiles. I'll just point out that India was one of their fastest growing segments -- countries over the eventual really two years, certainly from a -- on a percentage basis and continues to execute exceedingly well. That was, in part, their rationale for taking the action they did to bring it in as a wholly owned subsidiary now. So, they certainly mediate that there remains significant break to grow that market and they believe that in-house it will quite, frankly, grow faster as a wholly owned subsidiary than it would otherwise be able to grow.

    There may be some modest investments but nothing of the scale that, I think, would be -- abide worth calling out at the moment. Mexico, I definitely agree that it's been a satisfactory business for us for the brand. They believe together with their distribution-- their existing distribution ally that it can grow faster and better. There were probably again be some limited investments there, but it will be with an eye toward growing the brand, growing the brand presence in the market.

    We'll hold better indication on that once we've an eye toward exactly when they anticipate the transaction to close. But suffice it to say, again, it was fraction of the underlying rationale for taking the action they did. They felt they could grow it better together in a joint venture format than we'd be able to notice otherwise. So, given the attractiveness of that market, it will certainly warrant some investment consideration along the way.

    But again, nothing of the scale outside of the original investment into the joint venture that I would point out. And just to be clear about that, it's an operating business today with their distribution partner, there are existing stores, as they mentioned. So, in this instance, they are buying into to profile the joint venture and then grow it from there as partners.

    Jeff Van Sinderen -- B. Riley FBR -- Analyst

    OK. Understood. Thanks for taking my questions and best of luck in Q1.

    John Vandemore -- Chief fiscal Officer

    Thanks, Jeff.


    Our next question comes from the line of Chris Svezia from Wedbush. tickle proceed with your question.

    Chris Svezia -- Wedbush Securities -- Analyst

    Hey, guys. Thanks for taking my questions and congrats on the finish to the year.

    David Weinberg -- Chief Operating Officer


    John Vandemore -- Chief fiscal Officer

    Thanks, Chris.

    Chris Svezia -- Wedbush Securities -- Analyst

    U.S. wholesale, so I'm just curious, Q4 I mediate the initial guidance was high-single, low-double. You did four and change, saw a 5% growth. Was anything unique happened in the quarter either just -- I don't know, just why did it approach in at that flush versus maybe what you expected? Any color about that?

    John Vandemore -- Chief fiscal Officer

    Yes, I'd dispute what -- you probably saw a limited more continuance of the off-price deficit that they hold seen in Q2, in Q3, I impress not extraordinary, but it was a limited bit weaker than they even thought. We're nascence to notice unique signs of recovery and it didn't approach through, I mediate at the flush that they had hoped. I would too point out that in Q4, they were comping against an incredible kids number eventual year from Energy Lights. It was one of their top five styles eventual year in Q4.

    And it just had a tough comparable, so that was probably a limited bit weaker than they anticipated. But again, I'd generally dispute they were looking for growth in the quarter against kindly of the retail backdrop that they saw and some of the traffic numbers that they saw impacting their retail partners. That was -- they quiet mediate the growth that they showed was satisfactory growth, taking advantage of the market and the product force given those two other considerations I mentioned.

    David Weinberg -- Chief Operating Officer

    Yes, and as fraction of that, there's a shift as well from -- in pricing because the pair information was up mid-to-high single.

    Chris Svezia -- Wedbush Securities -- Analyst

    OK. When I -- so when I mediate about you hold full sales dote authority, you talked about maybe flat to down in Q1, I guess, you beget that back up a bit in Q2? Just any thoughts about how they mediate about U.S. wholesale growth for the year, seems dote Kid's has been a limited bit softer given the comparison, Women's, I guess, depends in what category, Men's has been strong, I guess. But just what kindly of growth rate they should mediate about for U.S.

    wholesales as they kindly of mediate about the year and moving forward?

    John Vandemore -- Chief fiscal Officer

    Yes, I mean, they sit here with kindly of half the year fully vetted with customers. And as David pointed out, initial orders getting booked now for the back half of the year. So, it's fairly early to beget a full forecast for the year. What I would bid you though is they mediate it's a single-digit environment from a domestic wholesale at the moment.

    Again, against the backdrop of store counts dwindling, door counts coming down. So, I mediate that's probably the best guide. But again I mediate it's really early and it's tough to tell. I would too point out for you just for context, they actually saw Women's and Men's grow this quarter, and that was a satisfactory sign.

    Kid's, obviously, facing the really difficult comparable given the Energy Lights phenomena the year before was the only gender category that they saw a decline in the quarter, so that was satisfactory and reassuring.

    Chris Svezia -- Wedbush Securities -- Analyst

    And on Western Europe, maybe just talk about what's going on there U.K., Germany, some of the other markets, broadly speaking. grasp out the currency out of the equation, obviously, currency is a bit of headwind here near term, but what's going on in those markets, how has your business been holding up, pricing? Just any color about how they should mediate about Western Europe as they retrograde forward?

    David Weinberg -- Chief Operating Officer

    Western Europe continues to be a very positive piece for us and they will certainly on a local currency basis grow in the first quarter on top of what's a very satisfactory first quarter eventual year. We're actually shipping quite well for January and February. They -- the environment is probably slightly better for growth purposes from Germany, although the U.K. will remain their largest -- U.K.

    had some internal issues at the retail flush with some bankruptcies and reshuffling and they will continue to grow, and they're already the largest to initiate with. But I would bid you that they would anticipate growth in just about every country in Europe on a local currency basis, Western Europe anyway.

    Chris Svezia -- Wedbush Securities -- Analyst

    OK. eventual question I hold is just on Mexico. Just any thoughts or can you share with us how substantial that potentially could be, what's the size? And I know you haven't disclosed timing, but is this sort of a second quarter, is it going to betide shortly in the first quarter, or just any color about timing on that?

    John Vandemore -- Chief fiscal Officer

    Yes, we've been working on it diligently recently. They hope that it will nigh this quarter, but it's taking an operating business and forming a joint venture, so it's not as simple as starting from scratch because you're dealing with existing components. So, their anticipation at the moment is that by the terminate of the quarter, we'll be able to close, but I would -- at this point, I mediate quite frankly it's just a limited bit too early for us to be able to relegate with in any degree of reliability to a timing number.

    Chris Svezia -- Wedbush Securities -- Analyst

    OK. And John that's not in your numbers, right?

    John Vandemore -- Chief fiscal Officer

    Correct. They hold excluded it from everyone the guidance at this point in time, and they will update you when they hold an conception as to the nigh and they will accordingly update guidance if necessary.

    Chris Svezia -- Wedbush Securities -- Analyst

    OK. Thank you very much. everyone the best.

    John Vandemore -- Chief fiscal Officer

    Thanks, Chris.


    [Operator instructions] Their next question comes from the line of Omar Saad from Evercore. tickle proceed with your question.

    Unidentified speaker

    Hi, guys, this is West [Inaudible] on for Omar. A question on your e-commerce business. You had mentioned you were going to roll out unique functionality, really build more of an stress behind the e-commerce. Can you expand on that a limited bit? What pieces effect you mediate you really exigency to ameliorate to really pick up that business growing kindly of in line with some of your peers? And then too they're going to be more domestically focused or are there things you're doing abroad as well? Thank you.

    John Vandemore -- Chief fiscal Officer

    Yes, I don't want to retrograde into a ton of detail because it's probably too microscopic for everyone. But I would say, they -- and actually this started a year ago so -- or may be even before that really. They hold been investing in their digital assets, their digital capabilities, everything from digital marketing everyone the course through to what will be a complete replatform of their commerce user interface. So that's in process.

    It involves for us working with external partners, who are expert in this, pile off of what they hold today, but creating I mediate a more comprehensive solution, again, everything from -- encompassing everything from digital, marketing everyone the course through to actual e-commerce. I would characterize it as a focus at the moment on domestic solution, but it's with the goal of having as nigh to a turnkey solution as they can for their global operations so that they can bring similar solutions to their international markets because some of the selfsame trends you're seeing domestically are nascence to emerge internationally with regards to e-commerce. I just too want to note as an exception to that today, China is already far, far ahead of many of its competitors and doing exceedingly well in e-commerce. It grew over 50% this year.

    So, when they talk about e-commerce, it definitely depends on which market you're speaking about, but China is already a significant e-commerce business for us and continues to effect very, very well.

    Unidentified speaker

    OK. Perfect. And then just secondly, I know you guys hold been rolling out more fashion-forward product, more kindly of branding going into specialty and doing some apparel. As you mediate about continuing to build that, are you seeing some traction in the brand recognition, moving the customer younger? Any kindly of metrics you could hold there, how it's evolving, how the view -- how the brand overall is viewed domestically and abroad? Thanks.

    David Weinberg -- Chief Operating Officer

    We only notice more and more increases and more exception -- more acceptance to the brand. I mediate on a worldwide basis, they continue to propel the brand and -- to newer styles and to newer looks and continue to trend significantly younger. And it's now nascence to betide in the U.S. as well.

    So, they are everyone positive about their brand offerings, their product offerings, and anticipate they will solidify a significantly larger demographic, but they are getting more brand acceptance everywhere in the world.

    Unidentified speaker

    That's great. satisfactory work, guys, and satisfactory luck on the next year.

    David Weinberg -- Chief Operating Officer


    John Vandemore -- Chief fiscal Officer

    Thank you.


    Our final question comes from the line of Tom Nikic from Wells Fargo. tickle proceed with your question.

    Tom Nikic -- Wells Fargo -- Analyst

    Hey, everybody. Thanks for squeezing me in at the terminate here. John, just a quick one on the buyback. I mediate you've already used up a pretty significant portion of the authorization.

    Should they assume that you'll sort of keep buying back stock and when it expires, you'll spy to reup? And just kindly of thinking how should they mediate about that. Thanks.

    John Vandemore -- Chief fiscal Officer

    Yes, I mean, that's almost precisely how they mediate about it. I mean, their activity year-to-date has been a reflection of where they notice value and we've seen tremendous value in the share price. Skechers, as I mentioned, they mediate is undervalued, unpretentious and simple. So, they took the action that was available to us.

    We will continue to pursue completion of the program they hold based on the current prices in the market. And then we'll retrograde from there. I mean, it's an ongoing dialog they hold with regards to capital allocation. So, it will definitely be a component of what they talk about with the board going forward and certainly as they near completion of the program that we'd build in Place eventual year.

    Tom Nikic -- Wells Fargo -- Analyst

    All right. Thanks very much. Best of luck this year.

    John Vandemore -- Chief fiscal Officer

    Thank you, Tom.


    We've reached the terminate of the question-and-answer session. And I will now eddy the convoke over to Skechers for closing remarks.

    Unidentified speaker

    Thank you, again, for joining us on the convoke today. They would just dote to note that today's convoke may hold contained forward-looking statements. As a result of various risk factors, actual results could vary materially from those projected in such statements. These risk factors are particular in Skechers filings with the SEC.

    Again, thank you, and hold a distinguished day.


    [Operator signoff]

    Duration: 62 minutes

    Call Participants:

    David Weinberg -- Chief Operating Officer

    John Vandemore -- Chief fiscal Officer

    David Weinberg -- Chief Operating Officer

    Laurent Vasilescu -- Macquarie Group -- Analyst

    John Kernan -- Cowen and Company -- Analyst

    Lauren Cassel -- Morgan Stanley -- Analyst

    Jay Sole -- UBS -- Analyst

    Jim Duffy -- Stifel fiscal Corp. -- Analyst

    Sam Poser -- Susquehanna fiscal Group -- Analyst

    Jeff Van Sinderen -- B. Riley FBR -- Analyst

    Chris Svezia -- Wedbush Securities -- Analyst

    Tom Nikic -- Wells Fargo -- Analyst

    More SKX analysis

    This article is a transcript of this conference convoke produced for The Motley Fool. While they strive for their fatuous Best, there may be errors, omissions, or inaccuracies in this transcript. As with everyone their articles, The Motley Fool does not assume any responsibility for your exhaust of this content, and they strongly embolden you to effect your own research, including listening to the convoke yourself and reading the company's SEC filings. tickle notice their Terms and Conditions for additional details, including their Obligatory Capitalized Disclaimers of Liability.

    10 stocks they dote better than SkechersWhen investing geniuses David and Tom Gardner hold a stock tip, it can pay to listen. After all, the newsletter they hold hasten for over a decade, Motley Fool Stock Advisor, has quadrupled the market.*

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    Motley Fool Transcribing has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Skechers. The Motley Fool has a disclosure policy.

    Italy’s UniCredit posts best underlying profits in a decade | killexams.com actual questions and Pass4sure dumps

    UniCredit said net profits more than doubled in the fourth quarter, boosted by a tax gain, as the Italian bank reported its best underlying performance for a decade and rebounded from litigation provisions and business writedowns earlier in the year.

    Italy’s largest bank by assets said net operating profit for eventual year was 13 per cent higher than the previous year at €6.4bn, the highest flush since 2008.

    The Milan-based lender is in the final year of a turnround map designed to shrink heinous loans and nick costs. Chief executive Jean-Pierre Mustier, who launched the map when he took over in 2016, said it was “well ahead of schedule”.

    The bank had already achieved its target to nick 14,000 jobs and has reached 93 per cent of the goal to nigh 944 of its more than 5,000 branches. Operating expenses were already below the target, said Mr Mustier, who will unveil a unique strategic map in December.

    The latest earnings expose Mr Mustier’s strategy is quiet on track after it missed profit forecasts in the third quarter, when it took a €846m writedown on its Turkish operations and booked provisions for past violations of US sanctions.

    “The results showed in line core revenues, better costs and lower loan loss provisions,” said Citigroup analyst Azzurra Guelfi. “We anticipate the market to hold a positive reaction given progress on capital and core profitability, exertion on de-risking, and the delivery of the plan.”

    The shares rose 2.9 per cent after the announcement on Thursday. However they are quiet down almost 40 per cent in the past year, reflecting broad-based investor scepticism about the profitability and resilience of the European banking sector.

    Quarterly net profits more than doubled to €1.73bn from a year earlier, boosted by an €887m tax gain generated by the recent Italian Budget law. However, full-year net profit fell 29 per cent to €3.89bn.

    Like other European banks, including UBS, BNP Paribas and Société Générale, fiscal markets trading plunged in the quarter.


    Thursday, 3 January, 2019

    The bank blamed a 59 per cent slither in trading income in the eventual three months of 2018 on a very tough market environment and lower client activity.

    The destitute investment banking performance was offset by a boost in commercial banking income in Italy and eastern Europe, the lender said.

    Net interest income — the disagreement between what it earns from borrowers and pays to depositors — was 4.9 per cent higher year-on-year in the fourth quarter. Overall, however, revenues fell 1 per cent year-on-year to €4.86bn in the quarter.

    A year after reinstating its dividend following a one-year gap, UniCredit too trimmed the flush of the payout. Shareholders will receive 27 cents a share, compared to 32 cents a share in 2017.

    Non-performing loan exposures — a lingering problem for Italian lenders — were too “significantly down”. The group’s overall ratio of non-performing loan exposures to assets ticked down by 2.65 percentage points year-on-year to 7.7 per cent.

    Core non-performing exposures were 4.1 per cent of assets, down almost 1 percentage point from the previous year.

    The bank’s fully loaded core tier one ratio — a key measure of equipoise sheet force — slipped from 12.1 per cent at the terminate of the third quarter to 12.07 per cent at the terminate of December.

    Separately, it was announced late on Wednesday that Mr Mustier’s number two, common manager Gianni Franco Papa, would step down in June after 39 years at the Italian lender as fraction of a wider management reorganisation.

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    BICSI [2 Certification Exam(s) ]
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    Oracle [279 Certification Exam(s) ]
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    Trainers [3 Certification Exam(s) ]
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    VCE [6 Certification Exam(s) ]
    Veeam [2 Certification Exam(s) ]
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    Vmware [58 Certification Exam(s) ]
    Wonderlic [2 Certification Exam(s) ]
    Worldatwork [2 Certification Exam(s) ]
    XML-Master [3 Certification Exam(s) ]
    Zend [6 Certification Exam(s) ]

    References :

    Dropmark : http://killexams.dropmark.com/367904/11712158
    Wordpress : http://wp.me/p7SJ6L-1gS
    Issu : https://issuu.com/trutrainers/docs/1z0-605
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    Box.net : https://app.box.com/s/w426w33e3h43sbeejtge5sa6aizx2kyn
    publitas.com : https://view.publitas.com/trutrainers-inc/just-study-these-oracle-1z0-605-questions-and-pass-the-real-test
    zoho.com : https://docs.zoho.com/file/5xjzy32e25354fc0c48438d7b1a9f515820b9

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