Today will be a Sunday with a difference for global-investing.com subscribers. We had a busy time last week keeping up with quarterly results being published by our stock-pick companies because they are in a rush to beat the August doldrums, when market volumes fall and analysts go on vacation.

One of our stocks reported at the crack of dawn local London time on Thursday, July 26, because of the expected pile-up of other reports that day from Britain. There was no way I, from New York, or our point-man on this share, Martin Ferrera in western Canada was going to get on-line all bleary-eyed to cover the conference call at 4:15 NY time after our company' fiscal Q4 results came out. We relied on our brokers, the company itself, and services like seekingalpha.com to send us updates on our company, Martin's pick, Renishaw plc, a UK technology leader with a provincial address (in Wotton-under-Edge, Gloucestershire, UK), global reach, and a quirky publicity-shy founder who is now chairman. With 11 corporate results that day, we missed No. 12, through no fault of ours.

Seekingalpha.com, which I was associated with when it was young and eager, charges companies for distributing their results and is now attempting to also charge users who log into the transcripts of their conference calls. That is double-dipping, but would be tolerable if they did the transcripts well getting prior information about hard-to-understand names and subsidiaries, company officials and competitors. Most of the time the redactors have not been briefed or given names, and they just guess. That's bad enough.

But what happened to Renishaw plc is worse. The transcript came out overnight Saturday-Sunday under the headline Lawson Products, LAWS-Q, a totally unrelated company which had reported on its Q2. Neither Martin nor I was warned either by the IR at Renishaw or by SeekingAlpha (the transcription service Renishaw had paid for) that the material had been posted on its site. I opened it for no good reason because it was Sunday morning and stumbled upon the results Martin and I had been waiting for.

Another reason for the information gap is that Charles Schwab, the broker where I hold my stocks, moved all pink-sheet-listed foreign stocks into a global trading account which I cannot access except at the close of day, lacking a news feed. Renishaw was showing as RSW rather than as the ADR I bought (with a different broker) and own and there was no news.

The Renishaw results are discussed below for paid subscribers. I will prepare my close-of-week closed-end fund and sold positions table, but the portfolio table will be closed on Tuesday, the end of July. Fully paid subscribers should read on to learn about the brilliant results of our stock pick. Pre-subscribers should consider signing up for a sub.

*Renishaw plc, maker of metrology (industrial measuring and automation software) systems for precision manufacturing of metal industrial, electronic, and dental and medical components reported record revenues of £611.5 mn, up 18% at constant exchange rates. It had double-digit sales rises in all its regions, notable Japan (up 17%); Germany (+14%); the USA (+13%); and China (up 11%). By region the levels were comparable this time in order of size: Far East +19%; Europe +17%; Americas +19%; and Britain and Ireland +11%. (There is a small rest of the world amount of about 3% of sales.) It was hurt by sterling's weakness against the yen and the dollar but made up for it with the pound's strength against the euro.

Its before-tax profits were up by a third to £155.2 mn. After-tax profits were up a still lovely 29% to £132.4 mn, despite its tax rate rising to 14.7% from 12.2% over the Q4 of FY 2016-7. EPS was also up by 29% to 181.8 pence.

RNSHY's main business is metrology: modern machine tools and systems, with coordination measurement machines (CMM) used to manufacture precision parts for airplanes (its original business), cars, electronic equipment and panels, and sensors for application engineering and general manufacturing equipment. Its fastest growth is in electronic and semiconductor chip making. This is a wide-moat business.

Its modest healthcare arm became profitable for the first time to the tune of £36 mn in the last FY... It makes a measurement for fine-tolerance dentures. It is working with Herantis Pharma on a stereotactic robot with software to deliver a Parkinson's disease drug and another for epileptics, now in trials in Sweden and Finland. Its healthcare robots and software got US approvals in the FY.

As manufacturing becomes more complex employees become less skilled, tolerances have to be checked by measurement requiring less skill, and more automation and robotics. RNSHY's new Equator (TM) 500 gauging system is being brought out to deal with larger parts than the older Equator (TM) 300 system, for car and truck transmission and engine casings, drive train conrods, differential housings, and other parts, suspension castings, press parts, and valves and pump.

It also launched a new surface condition monitor in its Sprint system called SupaScan V3 which adds another measurement in the CNC machine or a Windows PC so faults can be corrected while the part inside the fixture, saving scrap and money. Its MP250 strain gauge inspection probe for grinders switches from default to high vibration resistance to low-latency, Its RMP400 ultra-compact machine too probe is for small 5-axis machine tools and uses radio signal transmission with frequency hopping spread spectrum technology (FHSS).

Its new linear axes encoders boost speed with wide installation tolerances and protect against dirt. This Quantic encoder also offers remote calibration and in-depth diagnostics.

And of course, it now has 4 lasers for metrology for additive manufacturing (AM) systems called RenAm500Q, also cutting costs per part and aiming at new industries moving into AM. The system is available as a smartphone app or a system sensor computer for real-time data.

It managed to cut its cost of sales to 34% of revenues~1% thanks to production efficiencies which upped revenue and inventory. It also cited the strong performance of its RLS partner in Slovenia.

It is building a new plant in Apodaca, Mexico and modernizing its German Solutions site and its Italian premises which upped administrative overhead to £56.9 mn, now 9% of sales vs prior year 10%. It also acquired sites in Edinburgh and Exeter.

RNSHY raised its dividend on common shares and ADRs by 15.4% to 60 UK pence with a final payment of 46 pence announced Its total return from this made it the 18^th best performer in the UK FTSE 250 mid-cap index with a total return of 48% (in sterling). It is a UK dividend aristocrat.

RNSHY results were published in the weekly Investors Chronicle and by Morningstar, the latter of which I am supposed to get from Schwab. But the broker's ability to link a US ticker with the underlying foreign one (RNS) is imperfect. RNSHY's IR head, Chris Pockett, is at least partly to blame also. The misheadlined transcript was not edited for errors by the people mis-speaking.

The other change was that new CEO Will Lee had succeeded Sir David McMurtry, the founder and now chairman. Sir David with his original team own more than 50% of RNSHY and therefore it is not very anxious to chat with analysts and give out information beyond what is required by law.

In London trading, the stock rose less than 2% last week according to the Financial Times. It is also a play on Brexit being abandoned since most of its manufacturing base in Britain. Given his careful ways, I expect Sir David to demand a refund from seekingalpha.com! There is still time to buy more.