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An Aurora eatery is in the running for the nation's best new restaurant in James Beard Awards

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A well-regarded restaurant in Aurora has just been served another heaping helping of acclaim. This time, it comes from the James Beard Foundation, bestowers of the coveted James Beard Awards, the Oscars of the restaurant industry. The foundation has announced that Annette, Chef Caroline Glover's new restaurant in the Stanley Place Marketplace at 2501 Dallas St., is among 28 semi-finalists nationwide for best new restaurant. It's the only Colorado eatery on the list. Last August, Bon Appetit magazine… Reported by bizjournals 2 hours ago.

We know what causes the 'Northern Lights'

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The Northern Lights, or the Aurora Borealis. The Vikings thought it was a road to the Gods, but we now know exactly what those beautiful lights actually are.

 
 
 
 
 
 
  Reported by USATODAY.com 22 hours ago.

Man gets two life sentences for 2016 double fatal shooting in Aurora

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A man found guilty Friday on two counts of first-degree murder was sentenced to life in prison. Reported by Denver Post 16 hours ago.

The Wettstein Agencies Announces Charity Drive to Assist Young Local Man Battling Hodgkin’s Lymphoma

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A regional insurance provider in central Colorado is announcing a charity drive to assist Adyn Lord, a local man struggling to overcome cancer

AURORA, Colo. (PRWEB) February 17, 2018

Mitchell Wettstein, founder and director of the Aurora-based Wettstein Agencies, is leading a regional charity effort to provide support to Adyn Lord, a young Colorado resident fighting against cancer. Adyn and his family are counting on a full recovery, however the treatment process is long and costly, and the family is asking for support.

“Little by little, we all can have a positive impact and help Adyn focus on what’s most important…recovery,” said Wettstein.

The Wettstein team is asking all Aurora residents to pitch in and help the Lord family by referring in friends or family members to receive no cost quotes on new insurance policies. For every person sent in, the Wettstein team will make a monetary donation to the Lord family to assist them during this difficult time.

More information on how to be part of the charity drive has been provided on this page: http://wettsteinagencies.com/rewards/.

About Wettstein Agencies    

As a Personal Insurance Representative in Aurora, Colorado, agency owner Mitchell Wettstein knows many local families. His knowledge and understanding of the people in his community ensures that clients of Wettstein Agencies are provided with an outstanding level of service. Mitchell and his team look forward to helping families protect the things that are most important - family, home, car and more. Wettstein Agencies also offers clients a preparation strategy for achieving their financial goals. To contact an expert at Wettstein Agencies, visit http://wettsteinagencies.com/ or call (720) 263-6821 in Aurora or (303) 750-5959 in Castle Rock. Reported by PRWeb 6 hours ago.

Northern Lights display may be visible in Scotland tonight, forecasters say

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Clear skies may offer glimpse of Aurora Borealis, say forecasters Reported by Independent 4 hours ago.

Police: Man shot by officer in suburban Denver pulled gun

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AURORA, Colo. (AP) — Police say a man who was shot and killed by an officer in suburban Denver pulled a handgun and is believed to have been involved in an armed “road rage” incident the night before. The Aurora Sentinel reports that a woman called police Friday and told them a man had pointed […] Reported by Seattle Times 5 days ago.

Better Marijuana Stock: Aurora Cannabis vs. Canopy Growth Corporation

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They're the two biggest marijuana growers in Canada. But which is the better stock? Reported by Motley Fool 35 seconds ago.

Remains of sailor killed at Pearl Harbor on way to Illinois

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AURORA, Ill. (AP) — A veterans official says the remains of a sailor killed during the 1941 Japanese attack on Pearl Harbor are being sent to Illinois for burial. That comes after tests have identified remains of Navy Petty Officer 2nd Class Walter Howard Backman, who was a 22-year-old serving aboard the USS Oklahoma when […] Reported by Seattle Times 8 hours ago.

Build-A-Bear Workshop founder's summer camp app launches in Colorado

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Now parents in Denver, Boulder and north Aurora will be able to search Blueprint4SummerCO for listings and information on various summer camps and programs. Reported by bizjournals 16 hours ago.

Crash briefly shuts down Aurora Bridge

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A multi-car accident on state Route 99 has blocked all but one lane of the Aurora Bridge. Reported by SeattlePI.com 2 hours ago.

Matt LeBlanc & Girlfriend Aurora Mulligan Are Still Going Strong!

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Matt LeBlanc poses on the red carpet with his girlfriend Aurora Milligan at the premiere of Top Gear series 25 on Monday (February 19) at Mayfair Hotel in London, England. The 50-year-old former Friends actor has been rumored to be dating Aurora for nearly two years now and it looks like they’re still going strong [...] Reported by Just Jared 22 hours ago.

Feb 28: Ecotech Institute To Host Special Student Appreciation Event

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Ecotech Institute, a college focused entirely on renewable energy education, will host a special Bring-a-Friend event on Wednesday, February 28 from 4:00 p.m. - 6:00 p.m. Part of the school's month-long "We Love Our Students" campaign, the event will take place on Ecotech Institute's Aurora, Colorado campus and feature complimentary refreshments and a drawing for giveaway prizes.

AURORA, Colo. (PRWEB) February 20, 2018

Ecotech Institute today announced that it will host a special Bring-a-Friend Event on Wednesday, February 28 from 4:00 p.m. to 6 p.m. on campus located at 1400 S. Abilene St., Aurora, CO. A culmination of Ecotech Institute's month-long "We Love Our Students" campaign, the event will feature complimentary refreshments and special prizes.

WHAT: Bring-a-Friend student appreciation event at Ecotech Institute

WHEN: Wednesday, February 28, 2018 from 4:00 p.m. to 6:00 p.m. MST

WHERE: Ecotech Institute campus at 1400 S. Abilene St., Aurora, CO 80012

RSVP: For more information, contact Laura Leitner at 720.213.2601 ext. 4601.

"We are excited to announce this event dedicated to celebrating our student community" said Campus President Chris Gorrie. "Our students come from various backgrounds, but what they all have in common is an unwavering determination and passion to pursue their dreams. We encourage all of our students to invite their friends and family members to join us for this upcoming event."

The event will also allow attendees to explore a variety of programs and classes offered at Ecotech Institute, including Solar Energy Technology, Wind Energy Technology, Power Utility Technology, and Electronics Technology programs.

About Ecotech Institute

Ecotech Institute is a college solely focused on renewable energy education. Located in Aurora, Colo., Ecotech Institute offers an array of practical diploma programs that prepare students for careers in the energy industry, with an emphasis on the fields of renewable energy, sustainability and energy efficiency. Through flexible programs designed to meet diverse career goals, students get the hands-on training they need to be successful in these high-tech industries. Ecotech Institute is a division of Education Corporation of America. For more information about Ecotech Institute, visit ecotechinstitute.com or call (303)586-5290. Reported by PRWeb 10 hours ago.

Colorado congressman booed as people demand action on guns

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GREENWOOD VILLAGE, Colo. (AP) — A Republican congressman whose Denver-area district was the site of the Aurora movie theater shooting in 2012 was booed at a town hall Tuesday night by people calling for action in the wake of the Florida school shooting. Five-term congressman Mike Coffman says he’s willing to discuss “reasonable restrictions within […] Reported by Seattle Times 22 hours ago.

Aurora WDC Opens Registration for its 2018 RECONVERGE:G2 Intelligence Leadership Symposium

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Disruptive technologies - including Artificial Intelligence, Augmented and Virtual Reality, Cryptocurrencies, and the Internet of Things - will force a radical strategic reorientation for tomorrow's organizations. This year's RECONVERGE:G2 conference will focus on the values systems required of leaders to confront and profit from the coming Rogue Wave Convergence™ of these disruptive technologies.

MADISON, Wis. (PRWEB) February 21, 2018

Global business leaders of all stripes and in all industries must prepare for the coming Rogue Wave Convergence™ of disruptive technologies. This year's RECONVERGE:G2 Intelligence Leadership Symposium will bring together corporate P&L leaders, technology entrepreneurs, and intelligence analysts from multiple industries and disciplines to confront and plan for the transformational impacts of technologies such as Artificial Intelligence, Augmented and Virtual Reality, Cryptocurrencies, and the Internet of Things.

This year's conference will focus its attention on "Values Disruption: How Intelligence Analysts Make Business Leaders More Teachable and Awaken Cultures of Humility." The 2018 RECONVERGE:G2 Intelligence Leadership Symposium will be held April 26-28, 2018 at the Fluno Center on the University of Wisconsin - Madison campus.

"The impact of disruption from technology will transform the nature of our organizations, our governments, and our personal lives," explains Aurora WDC Founder and Chairman Arik Johnson. "Without honing a set of core values - humility, teachability, and empathy - leaders will struggle to cope with this disruption to their business models and ongoing relevance to the changing world around them. At RECONVERGE:G2 this year, our objective is to give organizational leaders the perspective they will need to stay ahead of disruption and succeed no matter what the future holds."

Instead of a "conference of speakers", the agenda is designed more like a three-day, hands-on workshop, said Johnson. Attendees, both in person and streaming online, will immediately apply tools and techniques to their own business problems. The event will culminate in a full-day competitive simulation (AKA, business wargame) exploring multiple possible scenarios of disruptive technology applications over the next three years.

Organizations represented at this year's RECONVERGE:G2 Intelligence Leadership Symposium include: IBM Watson, Deloitte, Northrup Grumman, CUNA Mutual Group, Brewer Science, NetApp, West Monroe Partners, Cognizant, Bose Corporation and others.

ABOUT RECONVERGE

RECONVERGE is a social learning community on a mission to forge belonging™ among the best and brightest intelligence professionals in the business world so they can discover how much more there is to learn. The RECONVERGE network offers multiple opportunities to connect, including IntelCollab™ webinars, local Insight Circles™, and the annual RECONVERGE:G2 Intelligence Leadership Symposium. Learn more at https://reconverge.net/

ABOUT AURORA WDC

Aurora WDC serves organizations worldwide in their efforts to win in the marketplace, deploy technology to amplify insights, and build a culture of intelligence. Its three offerings - Aurora GPS research and analysis services, FirstLight cloud-based intelligence management software, and the RECONVERGE social learning community - have been crafted intentionally to serve the needs of intelligence professionals and the top executives they serve. Learn more at https://aurorawdc.com/ Reported by PRWeb 21 hours ago.

Benetech, Inc. Marks 35 Years of Leadership in Bulk Material Handling Solutions

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This year Benetech, Inc. is celebrating its 35th anniversary of growth and innovation in designing world-class products, service and technologies for greater bulk material handling.

AURORA, IL (PRWEB) February 21, 2018

This year Benetech, Inc. is celebrating its 35th anniversary of growth and innovation in designing world-class products, service and technologies for greater bulk material handling.

The company began in 1983 with the aim to reduce combustible dust and improve bulk material handling systems; its initial focus was dust suppression. As Benetech’s industry awareness and expertise increased, so did its market presence and specialist team. Benetech rapidly developed into the United States’ premier provider of solutions for reducing fugitive and combustible dust.

Benetech had also identified early on that companies serving bulk material handlers often centered more on single products than on adaptive, broad-view solutions for bulk material handling systems and operating conditions. To fill the gap, Benetech researched and developed a full range of bulk material handling products, services and technologies with versatile applications.

The company further enhanced its engineering and services group to be the leading providers for dust suppression, dust collection, washdown systems, conveyor components and advanced transfer chute systems. This established Benetech as the main resource of engineering, procurement and construction (EPC) capabilities for bulk material handlers.

Today, Benetech customers benefit from Total Dust Management®, the optimal range of resources for all aspects of an operation’s material handling needs. Supported by Benetech’s in-house engineering, equipment manufacturing, research, chemical production and field service, Total Dust Management ensures high-output industries such as coal, steel, cement and paper and pulp can reduce dust, prevent spillage, improve material flow and achieve compliance.

“We truly appreciate our customers and honor the trust they have placed in us,” said Benetech Vice President Paul Moran. “We are grateful for the last 35 years of having been able to improve their bulk material handling systems, and we look forward to many more.”

Benetech provides complete, performance-based solutions for dust mitigation and bulk material–handling systems. Its products, services and technologies reduce dust, prevent spillage, improve material flow and reinforce compliance. A partner in planning, engineering and operating dust-control and material-handling systems, Benetech helps companies assess challenges, establish priorities and achieve the results they require. For more information, please call (630) 844-1300 or visit http://www.benetechglobal.com. Reported by PRWeb 19 hours ago.

Catch Some Zs: Volkswagen I.D. Vizzion Concept Is a Flagship for the Geriatric Set

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Catch Some Zs: Volkswagen I.D. Vizzion Concept Is a Flagship for the Geriatric Set -

Volkswagen, in the words of the great Sesame Street, seems to be brought to you by the letter Z nowadays. It’s in the names of the brand’s upcoming all-electric I.D. models, the Buzz and the Crozz. And now with the Vizzion, if it’s ever built, you might be able to catch some Zs on the road. Volkswagen is showing this potential fourth member of the I.D. family, in concept form, for the Geneva auto show.

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It doesn’t have a steering wheel. If you don’t count VW’s shipping-container-like Sedric, the I.D. Vizzion is the automaker’s first dedicated autonomous passenger-vehicle concept. And it specifically points to the geriatric set: VW says that “use of this car will be made possible for customer groups who cannot drive today, e.g. because of their age.”

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The concept would also be “enabling passengers to freely structure their time during the drive,” according to the automaker.

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Beyond that, Volkswagen terms it a “premium-class MPV” showing the technology and design direction for future EVs. At 201.2 inches long, it’s more than a foot and a half longer than the I.D. Crozz concept, which is expected to reach the United States in boxier production form sometime in 2020. And although the profile looks closer to that of a sedan than of an SUV, it’s different enough to escape being seen as a new incarnation of the (on-again, off-again) Phaeton. It shares some common design traits with Audi’s Aicon concept from the 2017 Frankfurt auto show. The rear doors are rear hinged, and all the doors open wide, making the full length of the cabin easy to access and get into or out of.

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*Digital Chauffeur, Digital Ecosystem*

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The I.D. Vizzion follows a “digital chauffeur” theme inside. There are four individual seats, with the rear ones potentially looking more spacious than those in front, and a long center console runs along the middle of the cabin. There’s no steering wheel—no visible controls at all, for that matter—but a virtual host is cued in to voice and gesture controls and adapts to each individual occupant. VW calls it “complete embedding into the digital ecosystem.”

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In keeping with the autonomous theme, VW is laying out potential performance that’s all-weather capable but not in the performance-car realm. Two electric motors provide all-wheel drive, and the system output is 302 horsepower, with a top speed of 112 mph. VW claims a driving range of 413 miles—although it doesn’t specify on which driving cycle. And we would assume that this long concept exists partly to show the flexibility afforded by Volkswagen’s Modular Electrification Toolkit (MEB) architecture, with which the other, smaller I.D. models will be built.

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· Volkwagen’s I.D. Crozz: The One We’ve Seen Will Not Be the First to Arrive
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· All the Buzz: Volkswagen I.D. Buzz Confirmed for Production
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· Volkswagen e-Golf: Review, Specs, Photos
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While we’d expect some of its design attributes to show up in future large VWs, the timeline for full autonomy depends greatly on how rapidly the automaker’s partnership with Aurora Innovation progresses. Autonomous or not, Volkswagen hasn’t said anything about bringing the Vizzion to production; expect more about that and the whole I.D. family at the Geneva show.

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- Reported by Car and Driver 12 hours ago.

Joliet woman pleads guilty in financial exploitation case

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AURORA, Ill. (AP) — A 41-year-old suburban Chicago woman has pleaded guilty to stealing money from a resident of a long-term care facility while working for a state contractor. The (Arlington Heights) Daily Herald reports that Kane County prosecutors say 41-year-old Mary E. Pfingston of Joliet entered her plea in court Friday. She faces probation […] Reported by Seattle Times 10 hours ago.

Magna Announces Fourth Quarter and 2017 Results and Raises Quarterly Cash Dividend by 20%

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Fourth Quarter 2017 Highlights· Record sales of $10.4 billion, up 12% from the fourth quarter of 2016
· Record diluted earnings per share of $1.53, an increase of 23%
· Cash from operations of $1.4 billion
· Returned $461 million to shareholders through share repurchases and dividends
· Raises quarterly cash dividend by 20% to $0.33 per share

Full Year 2017 Highlights

· Record sales of $38.9 billion, up 7% from 2016
· Record diluted earnings per share of $5.90, an increase of 14%
· Record cash from operations of $3.3 billion
· Returned approximately $1.3 billion to shareholders through share repurchases and $400 million in dividends.

AURORA, Ontario, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA), a technology company and one of the world's largest automotive suppliers, today reported financial results for the fourth quarter and year ended December 31, 2017.

    *THREE MONTHS ENDED DECEMBER 31,*   *YEAR ENDED DECEMBER 31,*
    *2017*   *2016*   *2017*   *2016*
*Reported*                        
                         
Sales   *$* * 10,391*   $   9,253   *$* *  38,946*   $   36,445
    * *       * *    
Income from operations before income taxes   *$* *  761*   $   646   *$* *  2,999*   $   2,780
                         
Net income attributable to Magna International Inc.   *$* *  556*   $   478   *$* *  2,206*   $   2,031
                         
Diluted earnings per share   *$* *  1.53*   $   1.24   *$* *  5.90*   $   5.16
    * *       * *    
*Non-GAAP Financial Measures*^(1)

Adjusted EBIT   *$* *  809*   $   696   *$* *  3,108*   $   2,898
    * *       * *    
Adjusted diluted earnings per share   *$* *  1.57*   $   1.31   *$* *  5.96*   $   5.23
    * *       * *    
*All results are reported in millions of U.S. dollars, except per share figures, which are in U.S. dollars.*

 

^(1) Adjusted EBIT and Adjusted diluted earnings per share are Non-GAAP financial measures that have no standardized meaning under U.S. GAAP, and as a result may not be comparable to the calculation of similar measures by other companies. For a definition and reconciliation of these Non-GAAP financial measures, refer to our Non-GAAP financial measures reconciliation for the 3 months and year ended December 31, 2017 included in the "Supplemental Data" section of this Press Release.

“I’m pleased with our 2017 results which were records for sales, earnings per share, and operating cash flow. Looking forward, we continue to execute our strategy for long-term growth focused on the future of mobility. We have also realigned our management structure to further enhance collaboration and strengthen our position as a provider of mobility solutions.”
- Don Walker, Magna’s Chief Executive Officer

A photo accompanying this announcement is available at 
http://www.globenewswire.com/NewsRoom/AttachmentNg/08eb7658-d691-410f-ac5f-1d2248dfaf2a

*THREE MONTHS ENDED DECEMBER 31, 2017*

We posted record sales of $10.39 billion for the quarter ended December 31, 2017, an increase of 12% over the fourth quarter of 2016.  The sales increase was achieved in a period in which European light vehicle production increased 7% and North American light vehicle production decreased 5%, each relative to the fourth quarter of 2016. Our complete vehicle assembly sales increased 129% in the fourth quarter of 2017 largely reflecting the 2017 launches of the BMW 5-Series and Jaguar E-Pace at our assembly facility in Graz, Austria.

During the fourth quarter of 2017, income from operations before income taxes was $761 million, compared to $646 million in the fourth quarter of 2016.  Net income attributable to Magna International Inc. was $556 million in the fourth quarter of 2017 compared to $478 million in the fourth quarter of 2016. Diluted earnings per share were $1.53 in the fourth quarter of 2017 compared to $1.24 in the fourth quarter of 2016, reflecting an increase in net income attributable to Magna International Inc. and a 6% decrease in the weighted average number of diluted shares outstanding during 2017.

Adjusted EBIT in the fourth quarter of 2017 increased 16% to $809 million, compared to $696 million for the fourth quarter of 2016.  Our Europe and Asia segments each posted higher Adjusted EBIT and Adjusted EBIT as a percentage of sales, compared to the fourth quarter of 2016.

For the fourth quarter of 2017, adjusted diluted earnings per share increased 20% to $1.57 compared to $1.31 for the fourth quarter of 2016.

We generated cash from operations of $884 million in the fourth quarter of 2017, before changes in operating assets and liabilities, and $564 million from operating assets and liabilities. Investment activities for the fourth quarter of 2017 were $1.02 billion, including $750 million in fixed asset additions and a $267 million increase in investments, other assets and intangible assets.

*YEAR ENDED DECEMBER 31, 2017*

We posted record sales of $38.95 billion for the year ended December 31, 2017, an increase of 7% from the year ended December 31, 2016.  European light vehicle production increased 4% and North American light vehicle production decreased 4% in 2017 compared to 2016.

Income from operations before income taxes was $3.00 billion, an increase of $219 million. Net income attributable to Magna International Inc. was $2.21 billion and diluted earnings per share were $5.90, increases of $175 million and $0.74, respectively, each compared to 2016.

Adjusted EBIT increased 7% to $3.11 billion in 2017, compared to $2.90 billion for 2016.  Our Asia and Rest of World segments each posted higher Adjusted EBIT and Adjusted EBIT as a percentage of sales, compared to 2016.

Our adjusted diluted earnings per share increased 14% to $5.96 for 2017 compared to $5.23 for 2016.

During 2017, we generated cash from operations before changes in operating assets and liabilities of $3.56 billion, and invested $232 million in operating assets and liabilities. Investment activities for 2017 were $2.51 billion, including $1.86 billion in fixed asset additions and a $651 million increase in investments, other assets and intangible assets. 

*RETURN OF CAPITAL TO SHAREHOLDERS*

During the three months and year ended December 31, 2017, Magna repurchased 6.7 million shares for $366 million and 26.2 million shares for $1.27 billion, respectively.  In addition, we paid dividends of $95 million and $400 million for the three months and year ended December 31, 2017, respectively.

Our Board of Directors declared a quarterly dividend of $0.33 with respect to our outstanding Common Shares for the quarter ended December 31, 2017. This dividend is payable on March 23, 2018* *to shareholders of record on March 9, 2018.

“Our strong earnings growth and cash flow have enabled us to return significant amounts of capital to shareholders. Our 20% dividend increase, the ninth consecutive annual dividend increase, reflects the confidence that both management and our Board have in Magna’s future.”
- Vince Galifi, Magna’s Chief Financial Officer

A photo accompanying this announcement is available at 
http://www.globenewswire.com/NewsRoom/AttachmentNg/0a6a8639-042a-46d5-9af8-fd23270369bb

*2018 OUTLOOK*

Our 2018 outlook remains unchanged from the outlook provided in our January 16, 2018 press release, except that European light vehicle production units have increased from 22.3 million to 22.4 million units. For further details, refer to the "2018 Outlook" section later in this press release.

*REVIEW OF SELECT FOURTH QUARTER 2017 FINANCIAL INFORMATION*

*Other Expense, net*

We recorded other expense, net of $28 million ($35 million after tax) for the three months ended December 31, 2017 compared to $30 million ($26 million after tax) for the three months ended December 31, 2016. These items had an unfavourable impact of $0.10 and $0.07 on diluted earnings per common share for the three months ended December 31, 2017 and 2016, respectively. For further details, refer to the "Other Expense, Net" section later in this press release.

*US Tax Reform*

On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act (the "US Tax Reform"), which (i) reduces the U.S. federal corporate tax rate from 35% to 21% beginning in 2018; (ii) requires companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred; and (iii) creates new taxes on certain foreign-sourced earnings.  At December 31, 2017, we have not completed our accounting for the tax effects of the US Tax Reform. However, we have made provisional estimates and recorded a net $23 million reduction in income tax expense. This included a $61 million tax benefit related to the remeasurement of our deferred tax balances partially offset by an expense of $38 million related to the one-time transition tax. These amounts positively impacted our diluted earnings per share by $0.06 in the fourth quarter of 2017.

*Segment Analysis*  
   
*North America*  
  *For the three months*

  *ended December 31,*

    *2017*
     2016     Change 
   
*Vehicle Production Volumes* (thousands of units)   *4,139*     4,358     (219 ) -  5 %
   
*Sales*  
External Production *$* *4,872*   $ 4,878   $ (6 )   —  
Tooling, Engineering and Other   *388*     360     28   + 8 %
Total Sales   *5,260*     5,238     22     —  
   
*Adjusted EBIT* *$* *506*   $ 516   $ (10 ) - 2 %
   
*Adjusted EBIT as a percentage of sales *^*(i)*   *9.6* *%*    9.9 %       -  0.3 %
                       
(i) Adjusted EBIT as a percentage of sales is calculated as Adjusted EBIT divided by Total Sales. 

External production sales in North America was relatively unchanged at $4.87 billion for the fourth quarter of 2017 compared to $4.88 billion for the fourth quarter of 2016 while North American vehicle production volumes decreased 5%. Lower production volumes on certain existing programs were substantially offset by the launch of new programs during or subsequent to the fourth quarter of 2016, including the Jeep Compass, Chevrolet Equinox and GMC Terrain, Volkswagen Atlas, Ford Expedition and Lincoln Navigator, and a $67 million favourable impact due to the strengthening of the Canadian dollar against the U.S. dollar.In North America, Adjusted EBIT decreased $10 million to $506 million for the fourth quarter of 2017 compared to $516 million for the fourth quarter of 2016.  The decrease was primarily due to customer settlements in the fourth quarter of 2017, higher pre-operating costs incurred at new facilities and reduced earnings on lower production sales partially offset by operational improvements, higher scrap steel recoveries, lower warranty costs, and an $11 million favourable impact due to the strengthening of the Canadian dollar and Mexican peso, each against the U.S. dollar.

Adjusted EBIT as a percentage of sales decreased 0.3% to 9.6% for the fourth quarter of 2017 compared to 9.9% for the fourth quarter of 2016.  The decrease was primarily due to customer settlements in the fourth quarter of 2017, higher pre-operating costs incurred at new facilities and reduced earnings on lower production sales partially offset by operational improvements, higher scrap steel recoveries and lower warranty costs.

*Europe*                
    *For the three months*
    *ended December 31,*
    *2017*     2016     Change 
   
*Volumes* (thousands of units)^ (i)  
Vehicle Production   *5,755.0*     5,384.0     371.0   + 7 %
                         
Magna Complete Vehicle Assembly   *27.3*     7.4     19.9   + 269 %
   
*Sales*  
External Production *$* *2,706*   $ 2,204   $ 502   + 23 %
Complete Vehicle Assembly   *1,007*     439     568   + 129 %
Tooling, Engineering and Other   *593*     581     12   + 2 %
Total Sales   *4,306*     3,224     1,082   + 34 %
   
*Adjusted EBIT* *$* *151*   $ 71   $ 80   + 113 %
   
*Adjusted EBIT as a percentage of sales*   *3.5* *%*   2.2 %   + 1.3 %
                     
(i) Vehicles produced at our Complete Vehicle Assembly operations are included in Vehicle Production volumes.

External production sales in Europe increased 23% or $502 million to $2.71 billion for the fourth quarter of 2017 compared to $2.20 billion for the fourth quarter of 2016 while European vehicle production volumes increased 7%. The increase in production sales was primarily due to a $199 million favourable impact from the strengthening of foreign currencies, including the euro, Polish Zloty, and Czech Koruna each against the U.S. dollar, and the launch of new programs during or subsequent to the fourth quarter of 2016 including the BMW 5-Series, Ford Fiesta, Mercedes-Benz GLC and GLC Coupe and the Land Rover Range Rover Velar. Complete vehicle assembly sales increased $568 million to $1.01 billion in the fourth quarter of 2017 compared to $439 million for the fourth quarter of 2016 primarily due to the 2017 launches of the BMW 5-Series and Jaguar E-Pace.In Europe, Adjusted EBIT increased $80 million to $151 million for the fourth quarter of 2017 compared to $71 million for the fourth quarter of 2016.  The increase was primarily due to margins earned on higher production and complete vehicle assembly sales and lower warranty costs partially offset by operational inefficiencies and launch costs incurred at a body and chassis facility, lower equity income and higher commodity costs.

Adjusted EBIT as a percentage of sales increased 1.3% to 3.5% for the fourth quarter of 2017 compared to 2.2% for the fourth quarter of 2016.  The increase was primarily due to higher production sales at margins higher than our European average and lower warranty costs partially offset by operational inefficiencies and launch costs at a body and chassis facility, lower equity income and higher commodity costs.

*Asia*                  
    *For the three months*
    *ended December 31,*
    *2017*     2016     Change 
   
*Sales*  
External Production *$* *644*   $ 663   $ (19 ) - 3 %
Tooling, Engineering and Other   *150*     112     38   + 34 %
Total Sales   *794*     775     19   + 2 %
   
*Adjusted EBIT* *$* *139*   $ 100   $ 39   + 39 %
   
*Adjusted EBIT as a percentage of sales*   *17.5* *%*   12.9 %   + 4.6 %
   

External production sales in Asia decreased 3% or $19 million to $644 million for the fourth quarter of 2017 compared to $663 million for the fourth quarter of 2016. This decrease was primarily due to lower production volumes on certain existing programs partially offset by the launch of new programs during or subsequent to the fourth quarter of 2016 and a $22 million favourable impact due to the strengthening of foreign currencies, including the Chinese renminbi, against the U.S. dollar.In Asia, Adjusted EBIT increased $39 million to $139 million for the fourth quarter of 2017 compared to $100 million for the fourth quarter of 2016.  The increase was primarily due to higher equity income, partially offset by reduced earnings due to lower production sales. The higher equity income related to higher net income at a certain equity investment as a result of an increase in sales partially offset by higher pre-operating costs incurred relating to a new venture. 

Adjusted EBIT as a percentage of sales increased 4.6% to 17.5% for the fourth quarter of 2017 compared to 12.9% for the fourth quarter of 2016.  The increase was primarily due to higher equity income partially offset by an increase in tooling sales as a proportion of total sales, which have a higher material and labour content than our Asia average.

*Rest of World*                      
    *For the three months*
    *ended December 31,*
    *2017*     2016     Change 
   
*Sales*  
External Production *$* *153*   $ 133   $ 20   + 15 %
Tooling, Engineering and Other   *7*     11     (4 ) - 36 %
Total Sales   *160*     144     16   + 11 %
   
*Adjusted EBIT* *$* *(3* *)* $ 4   $ (7 )   —  

External production sales in Rest of World increased 15% or $20 million to $153 million for the fourth quarter of 2017 compared to $133 million for the fourth quarter of 2016. External production sales were higher primarily due to net customer price increases subsequent to the fourth quarter of 2016.In Rest of World, Adjusted EBIT decreased $7 million to a loss of $3 million for the fourth quarter of 2017 compared to income of $4 million for the fourth quarter of 2016. The decrease was primarily due to operational inefficiencies at certain manufacturing facilities partially offset by net customer price increases subsequent to the fourth quarter of 2016.

*2018 OUTLOOK*

Light Vehicle Production (Units)    * * * * * *
North America     17.4 million  
Europe    
22.4 million  
         
Segment Sales        
Body Exteriors & Structures     $16.6 - $17.4 billion  
Power & Vision     $11.8 - $12.4 billion  
Seating Systems     $5.3 - $5.7 billion  
Complete Vehicles     $6.0 - $6.4 billion  
         
Total Sales     $39.3 - $41.5 billion  
         
Adjusted EBIT Margin^(2)     7.9% - 8.2%  
         
Equity Income (included in EBIT)     $335 - $375 million  
         
Interest Expense, net     Approximately $90 million  
         
Income Tax Rate^(3)     Approximately 22-23%  
         
Net income attributable to Magna     $2.3 - $2.5 billion  
         
Capital Spending     Approximately $1.8 billion  
         

^(2)  Adjusted EBIT Margin is the ratio of Adjusted EBIT to Total Sales.
^(3)  The Income Tax Rate has been calculated using Adjusted EBIT and is based on current tax legislation. In this 2018 outlook, we have assumed:

· 2018 light vehicle production volumes (as set out above);
· no material unannounced acquisitions or divestitures; and
· foreign exchange rates for the most common currencies in which we conduct business relative to our U.S. dollar reporting currency were:

· 1 Canadian dollar equals U.S. dollars      0.780
· 1 euro equals U.S. dollars                        1.170
These foreign exchange rates are unchanged from our previous 2018 outlook dated January 16, 2018. 

Certain of the forward-looking financial measures above are provided on a Non-GAAP basis. We do not provide a reconciliation of such forward-looking measures to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP.  To do so would be potentially misleading and not practical given the difficulty of projecting items that are not reflective of on-going operations in any future period. The magnitude of these items, however, may be significant. 
*MAGNA INTERNATIONAL INC.*
*CONSOLIDATED STATEMENTS OF INCOME*
[Unaudited] 
[U.S. dollars in millions, except per share figures]
    *Three months ended**
*   *Year ended*

    *December 31,**
*   *December 31,*

    *2017*     2016     *2017*     2016  
   
*Sales* *$* *10,391*   $ 9,253   *$* *38,946*   $ 36,445  
   
*Costs and expenses*  
Cost of goods sold   *8,920*     7,901     *33,258*     31,123  
Depreciation and amortization   *313*     278     *1,173*     1,056  
Selling, general and administrative   *437*     424     *1,668*     1,601  
Interest expense, net   *20*     20     *70*     88  
Equity income   *(88* *)*   (46 )   *(261* *)*   (233 )
Other expense, net   *28*     30     *39*     30  
Income from operations before income taxes   *761*     646     *2,999*     2,780  
Income taxes   *189*     150     *744*     706  
*Net income*   *572*     496     *2,255*     2,074  
Income attributable to non-controlling interests   *(16* *)*   (18 )   *(49* *)*   (43 )
*Net income attributable to Magna International Inc.** * *$* *556*   $ 478   *$* *2,206*   $ 2,031  
   
Earnings per Common Share:  
Basic *$* *1.54*   $ 1.25   *$* *5.93*   $ 5.19  
Diluted *$* *1.53*   $ 1.24   *$* *5.90*   $ 5.16  
   
Cash dividends paid per Common Share *$* *0.275*   $ 0.25   *$* *1.10*   $ 1.00  
   
Weighted average number of Common Shares outstanding during the period [in millions]:  
Basic   *359.6*     383.0     *371.8*     391.0  
Diluted   *362.3*     385.0     *373.9*     393.2  

*MAGNA INTERNATIONAL INC.*
*CONSOLIDATED BALANCE SHEETS*
[Unaudited]
[U.S. dollars in millions]
     
  *As at**
*   As at
 
  *December 31,**
*   December 31,
 
    *2017*     2016  
     
*ASSETS*    
*Current assets*    
Cash and cash equivalents *$* *  726 *   $   974  
Accounts receivable   *6,878*     6,165  
Inventories   *3,379*     2,804  
Prepaid expenses and other   *237*     220  
    *11,220*     10,163  
     
Investments   *2,088*     1,850  
Fixed assets, net   *8,141*     7,022  
Intangible assets, net   *650*     621  
Goodwill   *2,099*     1,923  
Deferred tax assets   *236*     268  
Other assets   *959*     719  
  *$* *  25,393 *   $   22,566  
     
*LIABILITIES AND SHAREHOLDERS' EQUITY*    
*Current liabilities*    
Short-term borrowings *$* *  259 *   $   623  
Accounts payable   *6,299*     5,430  
Accrued salaries and wages   *836*     768  
Other accrued liabilities   *1,649*     1,639  
Income taxes payable   *18*     96  
Long‑term debt due within one year   *108*     139  
    *9,169*     8,695  
     
Long‑term debt   *3,195*     2,394  
Long-term employee benefit liabilities   *670*     667  
Other long‑term liabilities   *304*     298  
Deferred tax liabilities   *323*     293  
    *13,661*     12,347  
     
*Shareholders' equity*    
Capital stock    
Common Shares    
[issued: 358,063,217; December 31, 2016 – 382,252,522]   *3,617*     3,796  
Contributed surplus   *119*     105  
Retained earnings   *8,089*     7,318  
Accumulated other comprehensive loss   *(597* *)*   (1,451 )
    *11,228*     9,768  
     
Non-controlling interests   *504*     451  
    *11,732*     10,219  
  *$* *  25,393 *   $   22,566  

*MAGNA INTERNATIONAL INC.*
*CONSOLIDATED STATEMENTS OF CASH FLOWS*
[Unaudited]
[U.S. dollars in millions]
         
    *Three months ended*   *Year ended*
    *December 31,*   *December 31,*
    *2017*     2016     *2017*     2016  
         
*Cash provided from (used for):*        
         
*OPERATING ACTIVITIES*        
Net income *$* *  572 *   $   496   *$* *  2,255 *   $   2,074  
Items not involving current cash flows   *312 *     382     *1,306 *     1,231  
    *884 *     878     *3,561 *     3,305  
Changes in operating assets and liabilities   *564 *     840     *(232* *)*   (39 )
*Cash provided from operating activities*   *1,448 *     1,718     *3,329 *     3,266  
         
*INVESTMENT ACTIVITIES*        
Fixed asset additions   *(750* *)*   (662 )   *(1,858* *)*   (1,807 )
Purchase of subsidiaries   —     (117 )   —     (1,810 )
Increase in investments, other assets and intangible assets   *(267* *)*   (155 )   *(651* *)*   (478 )
Proceeds from disposition   *105 *     75     *332 *     138  
Proceeds on disposal of facilities   *49 *     —     *49 *     —  
*Cash used for investing activities*   *(863* *)*   (859 )   *(2,128* *)*   (3,957 )
         
*FINANCING ACTIVITIES*        
Issues of debt   *8 *     18     *752 *     282  
(Decrease) increase in short-term borrowings   *(196* *)*   24     *(530* *)*   386  
Repayments of debt   *(9* *)*   (82 )   *(110* *)*   (417 )
Common Shares issued on exercise of stock options   *24 *     5     *44 *     33  
Shares repurchased for tax withholdings on vesting of equity awards   *(11* *)*   (8 )   *(11* *)*   (9 )
Repurchase of Common Shares   *(366* *)*   (106 )   *(1,271* *)*   (904 )
Contributions to subsidiaries by non-controlling interests   *—*     —     *10 *     —  
Dividends paid to non-controlling interests   *(5* *)*   (6 )   *(38* *)*   (6 )
Dividends paid   *(95* *)*   (95 )   *(400* *)*   (385 )
*Cash used for financing activities*   *(650* *)*   (250 )   *(1,554* *)*   (1,020 )
         
Effect of exchange rate changes on cash, cash equivalents and        
restricted cash equivalents   *9 *     15     *24 *     16  
         
Net (decrease) increase in cash, cash equivalents and        
restricted cash equivalents during the period   *(56* *)*   624     *(329* *)*   (1,695 )
Cash, cash equivalents and restricted cash equivalents,        
beginning of period   *895 *     544     *1,168 *     2,863  
*Cash, cash equivalents and restricted cash equivalents,*        
*end of period* *$* *  839 *   $   1,168   *$* *  839 *   $   1,168  

*MAGNA INTERNATIONAL INC.*
*SUPPLEMENTAL DATA*
[Unaudited]        
[All amounts in U.S. dollars and all tabular amounts in millions unless otherwise noted]
         
*Other Expense, net*        
         
During the three months ended December 31, 2017 and 2016, we recorded other expense, net items as follows:
         
    *Three months ended*   *Year ended*
    *December 31,*   *December 31,*
    *2017*     2016   *2017*     2016
         
Restructuring ^(1) *$* *  18 *   $   17 *$* *  29 *   $   17
Impairment of long-lived assets ^(2)   *64 *     —   *64 *     —
Impairment of investment ^(3)   *17 *     —   *17 *     —
Gain on formation of a new venture ^(4)   *(45* *)*   —   *(45* *)*   —
Gain on sale of investment ^(5)   *(26* *)*   —   *(26* *)*   —
Pension settlement ^(6)   *—*     13   *—*     13
*Other expense, net* *$* *  28 *   $   30 *$* *  39 *   $   30
         
(1)  For the year ended December 31, 2017, we recorded net restructuring charges of $29 million, including $15 million ($11 million after tax) in North America for one of our body and chassis systems operations and $14 million ($14 million after tax) in Germany at a powertrain systems facility. For the three months ended December 31, 2017, $15 million ($11 million after tax) of net restructuring charges relate to one of our body and chassis systems operations in North America and $3 million ($3 million after tax) relate to a powertrain systems facility in Germany. During 2016, we recorded net restructuring charges of $17 million ($17 million after tax) in Germany at a powertrain systems facility.
(2)  Impairment of long-lived assets refers to fixed asset impairment charges of $64 million ($64 million after tax) in Europe related to two body and chassis systems facilities.
(3)  In the fourth quarter of 2017, we recorded an impairment charge of $17 million ($17 million after tax) on one of our European investments, which was accounted for under the equity method.
(4)  During the fourth quarter of 2017 we formed a new venture in China with Hubei Aviation Precision Machinery Co. Ltd. Under the terms of the arrangement, we contributed one of our China manufacturing operations and received net proceeds of $54 million for a 49.9%, non-controlling equity interest. The transaction resulted in a deconsolidation of our China manufacturing operation and resulted in a gain of $45 million ($34 million after tax).
(5)  A gain of $26 million ($26 million after tax) was recorded on the sale of our investment in Argus Cyber Security Ltd., a cost method investment.
(6)  A limited lump-sum payment was offered to certain terminated vested plan participants of our U.S. defined benefit pension plans in 2016. As a result of the partial settlement, we recognized a $13 million ($9 million after tax) non-cash settlement charge.

*MAGNA INTERNATIONAL INC.*
*SUPPLEMENTAL DATA*
[Unaudited]
[All amounts in U.S. dollars and all tabular amounts in millions unless otherwise noted]
                 
*Segmented Information*                
                 
The Company's chief operating decision maker uses Adjusted Earnings before Interest and Income Taxes ["Adjusted EBIT"] as the measure of segment profit or loss, since management believes Adjusted EBIT is the most appropriate measure of operational profitability or loss for its reporting segments. Adjusted EBIT is calculated by taking net income and adding back income taxes, interest expense, net, and other expense, net.
                 
The following tables show segment information for the Company's reporting segments:
                 
  *Three months ended* Three months ended
  *December 31, 2017* December 31, 2016
        *Fixed*       Fixed
  *Total* *External* *Adjusted* *assets,* Total External Adjusted assets,
  *sales* *sales* *EBIT [ii]* *net* sales sales EBIT [ii] net
                 
*North America*                
Canada *$* *  1,666 *   *$* *  1,489 *   *$* *  883 * $  1,764   $  1,597   $   721
United States   *2,554 *     *2,493 *     *1,593 *   2,590     2,506     1,573
Mexico   *1,405 *     *1,258 *     *1,084 *   1,269     1,119     999
Eliminations   *(365* *)*   *—*     *—*   (385 )   —     —
    *5,260 *     *5,240 * *$* *  506 *     *3,560 *   5,238     5,222 $   516   3,293
*Europe*                
Western Europe                
(excluding Great Britain)   *3,548 *     *3,435 *     *2,443 *   2,569     2,472     1,912
Great Britain   *146 *     *146 *     *162 *   147     147     127
Eastern Europe   *734 *     *659 *     *728 *   622     541     545
Eliminations   *(122* *)*   *—*     *—*   (114 )   —     —
    *4,306 *     *4,240 *   *151 *     *3,333 *   3,224     3,160   71   2,584
*Asia*   *794 *     *749 *   *139 *     *726 *   775     726   100   679
*Rest of World*   *160 *     *160 *   *(3* *)*   *57 *   144     144   4   62
*Corporate and Other [i]*   *(129* *)*   *2 *   *16 *     *465 *   (128 )   1   5   404
*Total reportable segments* *$* * 10,391 *   *$* * 10,391 * *$* *  809 *     *8,141 * $  9,253   $  9,253 $   696   7,022
Current assets         *11,220 *         10,163
Investments, intangible assets,                
goodwill, deferred tax assets                
and other assets         *6,032 *         5,381
*Consolidated total assets*       *$* * 25,393 *       $  22,566

*MAGNA INTERNATIONAL INC.*
*SUPPLEMENTAL DATA*
[Unaudited]
[All amounts in U.S. dollars and all tabular amounts in millions unless otherwise noted]
                 
*Segmented Information (Continued)*                
                 
  *Year ended* Year ended
  *December 31, 2017* December 31, 2016
        *Fixed*       Fixed
  *Total* *External* *Adjusted* *assets,* Total External Adjusted assets,
  *sales* *sales* *EBIT [ii]* *net* sales sales EBIT [ii] net
                 
*North America*                
Canada *$* *  6,888 *   *$* *  6,215 *   *$* *  883 * $   6,784   $   6,214   $   721
United States   *9,989 *     *9,742 *     *1,593 *   10,226     9,857     1,573
Mexico   *5,505 *     *4,867 *     *1,084 *   5,121     4,586     999
Eliminations   *(1,477* *)*   *—*     *—*   (1,387 )   —     —
    *20,905 *     *20,824 * *$* *  2,064 *   *3,560 *   20,744     20,657 $   2,061     3,293
*Europe*                
Western Europe                
(excluding Great Britain)   *12,371 *     *11,949 *     *2,443 *   10,537     10,159     1,912
Great Britain   *597 *     *595 *     *162 *   658     656     127
Eastern Europe   *2,674 *     *2,379 *     *728 *   2,285     2,000     545
Eliminations   *(465* *)*   *—*     *—*   (400 )   —     —
    *15,177 *     *14,923 *   *596 *   *3,333 *   13,080     12,815   543     2,584
*Asia*   *2,791 *     *2,608 *   *366 *   *726 *   2,674     2,502   266     679
*Rest of World*   *584 *     *583 *   *12 *   *57 *   465     464   (17 )   62
*Corporate and Other [i]*   *(511* *)*   *8 *   *70 *   *465 *   (518 )   7   45     404
*Total reportable segments* *$* *  38,946 *   *$* *  38,946 * *$* *  3,108 *   *8,141 * $   36,445   $   36,445 $   2,898     7,022
Current assets         *11,220 *         10,163
Investments, intangible assets,                
goodwill, deferred tax assets                
and other assets         *6,032 *         5,381
*Consolidated total assets*       *$* *  25,393 *       $   22,566
                 
[i] Included in Corporate and Other Adjusted EBIT are intercompany fees charged to the automotive segments.
                 
[ii] For a definition and reconciliation of Adjusted EBIT, refer to our Non-GAAP financial measures reconciliation included in the "Supplemental Data" section of this Press Release.

 *MAGNA INTERNATIONAL INC.*
*SUPPLEMENTAL DATA*
 [Unaudited]
[All amounts in U.S. dollars and all tabular amounts in millions unless otherwise noted]
         
*Non-GAAP Financial Measures*
         
In addition to the financial results reported in accordance with U.S. GAAP, this press release contains references to the Non-GAAP financial measures reconciled below.  We believe the Non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the Company’s financial position and results of operations. In particular, management believes that Adjusted EBIT and Adjusted diluted earnings per share, are useful measures in assessing the Company’s financial performance by excluding certain items that are not indicative of the Company's core operating performance. Management also believes that these measures are useful to both management and investors in their analysis of the Company's results of operations, as they provide improved comparability between fiscal periods. The presentation of Non-GAAP financial measures should not be considered in isolation, or as a substitute for the Company’s related financial results prepared in accordance with U.S. GAAP.
         
The following table reconciles Net income to Adjusted EBIT:
         
    *Three months ended*   *Year ended*
    *December 31,*   *December 31,*
    *2017*     2016     *2017*     2016  
             
*Net income* *$* *  572 *   $   496   *$* *  2,255 *   $   2,074  
Add:            
Interest expense, net   *20*     20     *70*     88  
Other expense, net   *28*     30     *39*     30  
Income taxes   *189*     150     *744*     706  
*Adjusted EBIT* *$* *  809 *   $   696   *$* *  3,108 *   $   2,898  
         
The following table reconciles Net income attributable to Magna International Inc. to Adjusted Diluted Earnings per Share:
         
    * Three months ended*    *Year ended*
    *December 31,*    *December 31,*
    *2017*     2016     *2017*     2016  
         
*Net income attributable to Magna International Inc.* *$* *  556 *   $   478   *$* *  2,206 *   $   2,031  
Add:        
Other expense, net   *28 *     30     *39 *     30  
Tax effect of other expense, net   *7 *     (4 )   *7 *     (4 )
US tax reform   *(23* *)*   —     *(23* *)*   —  
*Adjusted net income attributable to Magna International Inc.* *$* *  568 *   $   504   *$* *  2,229 *   $   2,057  
Diluted weighted average number of Common Shares        
outstanding during the period:   *362.3*     385.0     *373.9*     393.2  
*Adjusted diluted earnings per share * *$* *  1.57 *   $   1.31   *$* *  5.96 *   $   5.23  
                         

This press release together with our Management’s Discussion and Analysis of Results of Operations and Financial Position and our Interim Financial Statements are available in the Investor Relations section of our website at www.magna.com/investors and filed electronically through the System for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com as well as on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR), which can be accessed at www.sec.gov .We will hold a conference call for interested analysts and shareholders to discuss our fourth quarter and year ended December 31, 2017 results on Thursday, February 22, 2018 at 7:30 a.m. EST. The conference call will be chaired by Don Walker, Chief Executive Officer. The number to use for this call from North America is 1-800-678-8995. International callers should use 1-303-223-2681. Please call in at least 10 minutes prior to the call start time. We will also webcast the conference call at www.magna.com. The slide presentation accompanying the conference call as well as our financial review summary will be available on our website on the morning of the call.

TAGS
Quarterly earnings, record quarter, financial results, sales growth

INVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relations
louis.tonelli@magna.com  │  905.726.7035

MEDIA CONTACT
Tracy Fuerst, Director of Corporate Communications & PR
tracy.fuerst@magna.com  │  248.631.5396

OUR BUSINESS ^(4)

We have more than 168,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a technology company and one of the world's largest automotive suppliers with 335 manufacturing operations and 96 product development, engineering and sales centres in 28 countries. Our competitive capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit www.magna.com.

______________

^(4) Manufacturing operations, product development, engineering and sales centres and employee figures generally include equity-accounted operations.

FORWARD-LOOKING STATEMENTS

We disclose "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") to provide information about management's current expectations and plans. Such forward-looking statements may not be appropriate for other purposes.

Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, objectives or economic performance, or the assumptions underlying any of the foregoing, and other statements that are not recitations of historical fact. We use words such as "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "aim", "forecast", "outlook", "project", "estimate", "target" and similar expressions suggesting future outcomes or events to identify forward-looking statements.

Forward-looking statements in this press release include, but are not limited to, statements related to:

· Magna’s forecasts of light vehicle production in North America and Europe;
· Expected consolidated sales, based on such light vehicle production, including expected split by segment in our Body Exteriors & Structures; Power & Vision; Seating Systems; and Complete Vehicles segments;
· Consolidated EBIT margin;
· Consolidated equity income;
· Net interest expense;
· Effective income tax rate;
· Net income;
· Fixed asset expenditures; and
· Future returns of capital to our shareholders, including through dividends or share repurchases.

Our forward-looking statements are based on information currently available to us, and are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.While we believe we have a reasonable basis for making such forward-looking statements, they are not a guarantee of future performance or outcomes. Whether actual results and developments conform to our expectations and predictions is subject to a number of risks, assumptions and uncertainties, many of which are beyond our control, and the effects of which can be difficult to predict, including, without limitation:

*Risks Related to the Automotive Industry *

· economic cyclicality;
· intense competition;
· potential restrictions on free trade;

*Customer and Supplier Related Risks*

· concentration of sales with six customers;
· shifts in market shares among vehicles or vehicle segments;
· potential loss of a material purchase order;

*Manufacturing / Operational Risks*

· product launch risks;
· operational underperformance
· restructuring costs;
· impairment charges;
· labour disruptions;
· supply disruptions;

*IT Security Risk*

· IT/Security breach;

*Pricing Risks*

· pricing risks between time of quote and start of production;
· price concessions;
· commodity costs;
· declines in scrap steel prices;

*Warranty / Recall Risks*

· costs to repair or replace defective products;
· warranty costs that exceed our warranty provision;
· costs related to a significant recall;

*Acquisition Risks*

· an increase in our risk profile as a result of completed acquisitions;
· acquisition integration risk;

*Other Business Risks*

· risks related to conducting business through joint ventures;
· our ability to consistently develop innovative products or processes;
· changing risk profile;
· risks of conducting business in foreign markets;
· fluctuations in relative currency values;
· tax risks;
· changes in credit ratings assigned to us;
· the unpredictability of, and fluctuation in, the trading price of our Common Shares;

*Legal, Regulatory and Other Risks*

· antitrust and compliance risk;
· legal claims and/or regulatory actions against us; and
· changes in laws.

* *In evaluating forward-looking statements or forward-looking information, we caution readers not to place undue reliance on any forward-looking statement, and readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements, including the risks, assumptions and uncertainties above which are discussed in greater detail in this document under the section titled "Industry Trends and Risks" and set out in our Annual Information Form filed with securities commissions in Canada and our annual report on Form 40-F filed with the United States Securities and Exchange Commission, and subsequent filings. Reported by GlobeNewswire 14 hours ago.

Swarm trio becomes a quartet

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Swarm trio becomes a quartet With the aim of making the best possible use of existing satellites, ESA and Canada have made a deal that turns Swarm into a four-satellite mission to shed even more light on space weather and features such as the aurora borealis. Reported by ESA 10 hours ago.

Aurora Advanced Flow Cytometry System from Cytek Biosciences Continues to Gain Traction

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FREMONT, Calif., Feb. 22, 2018 (GLOBE NEWSWIRE) -- First introduced in June of last year, the Aurora advanced flow cytometry system from Cytek Biosciences Inc. has gained significant traction in the scientific community – and is setting the new standard for what is possible.  Aurora has now been sold into four continents – Asia, North America, Australia, and Europe. Cytek’s mission is to fill a gap in the industry by making high-dimensional flow cytometry accessible to a larger number of researchers – and the company has its sights set on the remaining three continents.Its superb performance has enabled the possibility of new discoveries and deeper biological insights at an affordable cost. Unlike other spectral flow cytometers, Aurora is a full spectrum flow cytometer based on Cytek’s innovative architecture that does not use any optical dispersive element in its fluorescence detection system. The use of multiple excitation lasers enable Aurora’s collection optics system to cover the entire luminescence emission window – from ultraviolet to infrared. By employing solid state detector arrays as opposed to conventional PMT detectors, Aurora is able to be packaged in a compact platform with excellent sensitivity. This enhanced sensitivity allows for the co-labeling of cells using dyes with highly overlapping spectral profiles and the resolution of dim and rare populations. More than 20-color labels are achievable with only three onboard lasers at 405 nm, 488 nm and 640 nm. This Cytek innovative technology is covered by pending patent applications, the most recent of which published on January 25, 2018.

Reflecting on the state of flow cytometry today, Dr. Wenbin Jiang, CEO of Cytek Biosciences, noted that, “Traditionally, the flow cytometry industry has been monopolized by a few large players with little motivation to innovate. Most flow cytometers on the market are based on 20-year-old technology that fails to meet today’s application requirements. For example, applications in the field of immuno-oncology require the use of many colors from a single sample. Conventional flow cytometer designs try to meet this requirement by merely adding excitation laser wavelengths in the infrared and ultraviolet, which significantly increased the cost of ownership and complicated maintenance and usage. If you look at the telecom industry as a counterpoint, it is quickly apparent that – after the demise of the old monopoly – innovation has flourished, leading to today’s IT and cloud services that have positively impacted lives the world over.” Dr. Jiang, himself a veteran of the telecom industry, is an inventor who holds close to 100 U.S. patents.

Under the leadership of Dr. Jiang, Cytek has meshed innovative telecom technology with its 25 years of experiences in flow cytometer advancement, leading to the all-new full spectrum flow cytometer, Aurora. “Aurora has now been sold into four continents and has leapfrogged competing solutions to satisfy long unmet needs in fields of research such as immuno-oncology, systems biology, extracellular vesicles, stem cells and genomics,” continued Dr. Jiang. “We hear from our customers that other solutions have fallen well short of their expectations, and that Aurora is the cytometer that they have been waiting for.”

Please visit www.cytekbio.com for more information on Aurora and to learn more about Cytek’s lineup of flow cytometry solutions, all of which are backed by comprehensive service plan offerings.

*About Cytek Biosciences*
Cytek is a leading flow cytometry solution provider and provides compact, affordable instruments with high multiplexing capability and a wide range of services to support researchers and clinicians. Cytek Biosciences Inc. is the outcome of a merger between Cytek Development Inc., a leading pioneer in flow cytometry, and Cytoville Inc., a venture-capital-backed business focusing on advanced bio-medical instrument technology development. The company’s headquarters are in Fremont, California with branch offices and distribution channels across the globe. To learn more, visit www.cytekbio.com and follow them on LinkedIn.*Media Contact:*
Justine Houston-Brown
Lages & Associates
(949) 453-8080
justine@lages.com Reported by GlobeNewswire 9 hours ago.
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