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Post-IPO Landis+Gyr Seeks Financial Distinction From Toshiba’s Struggles

Landis+Gyr wants the world to know its financial fortunes are no longer connected to Toshiba -- even if its former parent company is still classifying L+G as its own. On Monday, Landis+Gyr reported unaudited second-quarter net revenues of $433 million and $54.6 million in adjusted EBITDA for the quarter ending on June 30, 2017. It did so not as part of its new reporting requirements as a listed company on the Swiss stock exchange, but in response to Toshiba's decision -- described as "uncoordinated" with Landis+Gyr management -- to include the former subsidiary's operations as part of its August 10 fiscal year 2016 and Q1 2017 financial results.
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