text
string | url
string | crawl_date
timestamp[ms] | label
int64 | id
string |
|---|---|---|---|---|
Hiking sunglasses
If you’re gearing up for some hiking this season, one thing you may not have considered is your sunglasses. As a vital and delicate part of your body, your eyes should be protected when out in the elements. Eyewear can make all the difference, and finding the right pair of sunglasses depends on the type of hiking you do and where you plan to do it.
Rough terrain, harsh climates, and glare from intense sun rays can significantly impact your vision. Plus, sunglasses should fit like a glove to avoid sliding down your nose — that’s never fun! Above all, comfort and reliability are essential.
Shop this article: Oakley Men’s FLAK 2.0 XL Sunglasses, Maui Jim Women’s Starfish Cat-Eye Sunglasses and Julbo Explorer 2.0 Mountaineering Glacier Sunglasses
Hiking sunglasses considerations
To find your hiking sunglasses match, ask yourself about the kind of hiking you’ll most likely be doing and what you value most. Are you a long-distance day hiker? A trail runner? Will you be dealing with snow? Are style and budget priorities?
With this in mind, consider the following factors that go into finding your next best pair of sunglasses for hiking. In no particular order, here’s a checklist of things to consider before making a purchase.
Hiking sunglasses weight
If you’re going on full-day hikes, you might notice a heavy pair of glasses on your face after a while. Choosing something lightweight but durable is key.
Hiking sunglasses comfort
For the same reason as the weight factor, you’ll want frames that are comfortable and fit your face right when you’re wearing them all day long. Behind your ears and on the bridge of your nose are vital spots to pay attention to.
Frame quality and construction
You need a robust and durable frame that can withstand wear and tear when you’re out in the wilderness. Look for metal frames or those made of newer materials like strong plastics and nylon alloys.
Lens quality and material
As with frames, your sunglasses’ lens quality is super important. Make sure your lenses are anti-scratch. Lenses come in all sorts of materials that offer different degrees of resistance to scratches and other impacts.
Polarized lenses
To avoid protection from direct sun rays and the glare from their reflection on snow or water, you’ll want to look for lenses that are polarized.
Hiking sunglasses UV protection
It’s pretty common knowledge that the sun’s UV rays are harmful and make it difficult to see what’s in front of you. If you’re hiking for more than a couple of hours, you’ll need UV protection on your eyes.
Hiking sunglasses price
Everyone has a budget. But, a cheap pair of fashion glasses won’t get you far on the trails, and you might be missing certain features before too long. You’re better off investing in a high-quality pair that will last for the long haul.
Hiking sunglasses brands
If you buy from a reputable, well-established and reliable brand of sunglasses, you’re sure to get a higher quality product. Ask around, read reviews and think about your own experience with a brand before pulling the trigger.
Hiking sunglasses styles
Some of us let style dictate our apparel purchases, and nothing says we must sacrifice function for it. Hiking sunglasses come in plenty of styles to choose from, so you won’t need to worry about compromising your taste.
Value adds
Some hiking sunglasses come with extra components that redirect sweat away from your eyes or guard your eyes against small bits of dirt and dust that you often find on trails.
Now that you know what features are important to you in hiking sunglasses, it’s time to shop! Here are our top picks for the best pairs, wherever your outdoor adventures take you.
Best sunglasses for hiking
Oakley Men’s FLAK 2.0 XL Sunglasses
You’ll see more clearly and sharply with these Oakley shades, featuring High Definition Optics that eliminates distortion. Comfortable, lightweight and durable, the lenses are optically aligned for the best fit and experience.
Sold by Amazon
Maui Jim Peahi Wrap Sunglasses
This scratch-resistant polarized Maui Jim sunglasses come with a UV protection coating. The neutral grey lenses enhance colors and are glare-free and light-reducing – perfect in direct and bright sunlight.
Sold by Amazon
Julbo Explorer 2.0 Mountaineering Glacier Sunglasses
These wide-coverage sunglasses from Julbo are perfect for the outdoors. Ergonomic, comfortable, ventilated, slim and stylish, they come with removable shields for sunlight protection, 360-degree adjustable temples and high-protection lenses — all designed for extreme conditions on or off the mountain.
Sold by Amazon
Oakley Gascan OO9014 Sunglasses For Men
These non-polarized, mirror-coated lenses are best for easier trails at lower elevations in mild conditions. They bring colors to life, so you can fully enjoy the world around you. The included accessory leash and cleaning kits are nice touches.
Sold by Amazon
Maui Jim Women’s Starfish Cat-Eye Sunglasses
Maui Jim’s Starfish polarized sunglasses stylishly and comfortably protect you from glare and UV rays while enhancing the colors and vibrancy of the great outdoors. Lightweight yet durable, these sunglasses come with skinny, neutral grey and scratch-resistant glass lenses that reduce light.
Sold by Amazon
Ray-Ban Outdoorsman Craft Aviator Sunglasses
If you’re a fan of the old-school aviator sunglass style, you’ll love this hiking version from Ray-Ban. Made with a metal frame and polarized crystal lenses that are prescription-ready, these shades offer UV protection and come with a case.
Sold by Amazon
Costa Del Mar Men’s Blackfin Sunglasses
If you’re looking for quality, durable sunglasses for hiking, this comfortable and lightweight pair from Costa has you covered. Their blue-mirrored polarized, scratch-resistant polycarbonate lenses are ideal for bright sunlight and reflection off the water. They’re UV-protected, too.
Sold by Amazon
Maui Jim Haleakala Wrap Sunglasses
Bring your hiking experience up a notch with the stylish Haleakala polarized sunglasses from Maui Jim. The glare-free lenses come with a UV protection coating and enhance the colors around you. Durable, lightweight and resistant to shatters and scratches, these comfortable shades are perfect for the trail.
Sold by Amazon
Oakley Men’s Twoface Sunglasses
Offering total UV protection, these light and comfy Oakley shades are made with a stress-resistant frame that lasts and resists deforming or shifting over time. The three-point lens fit means lenses are aligned in place. It comes with a handy micro bag for cleaning and storing.
Sold by Amazon
Native Eyewear Catamount Sunglasses
Native’s Catamount shades are perfect for the trails, with their polarized polycarbonate brown lenses that impeccably contrast detail. Your eyes will stay protected from harsh UV rays and glare from the sun. These glasses are super lightweight and shatter and scratch-resistant, too.
Sold by Amazon
Oakley Women’s Lowkey Round Sunglasses
These cute, round frames for women offer complete UV protection. Their lightweight, polarized plutonite lenses give maximum contrast, comfort and impact protection. You can choose from numerous frame and lens colors to stand out on the trails!
Sold by Amazon
Costa Del Mar Men’s Rincon Rectangular Sunglasses
If you’re a hiker with a simple and elegant style, this pair’s for you. The Rincon glasses feature comfort, clear optics and durability in their thin six-layer, scratch-resistant polarized lenses.
Sold by Amazon
Want to shop the best products at the best prices? Check out Daily Deals from BestReviews.
Sign up here to receive the BestReviews weekly newsletter for useful advice on new products and noteworthy deals.
Emma Caplan writes for BestReviews. BestReviews has helped millions of consumers simplify their purchasing decisions, saving them time and money.
Copyright 2023 BestReviews, a Nexstar company. All rights reserved.
|
https://fox59.com/reviews/br/camping-outdoors-br/gear-br/best-hiking-sunglasses/
| 2023-07-31T20:46:35
| 0
|
https://fox59.com/reviews/br/camping-outdoors-br/gear-br/best-hiking-sunglasses/
|
Paul Reubens, actor who played Pee-wee Herman, dies at age 70
Paul Reubens, who was best known for playing the character Pee-wee Herman, has died, according to a statement posted on his Facebook page Monday and his agent. He was 70.
“A gifted and prolific talent, he will forever live in the comedy pantheon and in our hearts as a treasured friend and man of remarkable character and generosity of spirit,” the Facebook post said.
The statement said Reubens died Sunday night after privately fighting cancer.
“Please accept my apology for not going public with what I’ve been facing the last six years,” Reubens said in the Facebook post. “I have always felt a huge amount of love and respect from my friends, fans and supporters. I have loved you all so much and enjoyed making art for you.”
This is a breaking news story. Check back for updates.
|
https://www.wsgw.com/paul-reubens-actor-who-played-pee-wee-herman-dies-at-age-70/
| 2023-07-31T20:46:40
| 0
|
https://www.wsgw.com/paul-reubens-actor-who-played-pee-wee-herman-dies-at-age-70/
|
Jury poised to deliberate death penalty or life sentence for gunman in Pittsburgh synagogue massacre
PITTSBURGH (AP) — A jury is set to deliberate whether to impose the death penalty or a sentence of life in prison without parole on a man who spewed antisemitic hate before fatally shooting 11 worshippers at a synagogue in the heart of Pittsburgh’s Jewish community.
The same jurors who convicted 50-year-old Robert Bowers in June on 63 criminal counts listened to closing arguments Monday in the penalty phase of his federal trial, held nearly five years after the truck driver from suburban Baldwin perpetrated the deadliest attack on Jews in U.S. history.
Bowers defiled a place of worship when he entered the Tree of Life synagogue on Oct. 27, 2018, and opened fire with an AR-15 rifle, shooting everyone he could find in a mass murder clearly motivated by religious hatred, said U.S. Attorney Eric Olshan.
Bowers raved incessantly on social media about his hatred of Jewish people — using a slur for Jewish people some 400 times on a social media platform favored by the far right — and remains proud that he killed Jews, the prosecutor reminded jurors,
“Do not be numb to it. Remember what it means. This defendant targeted people solely because of the faith that they chose,” Olshan said.
He added: “This is a case that calls for the most severe punishment under the law: the death penalty.”
Bowers’ lead defense attorney, Judy Clarke, acknowledged the horror of his crimes but urged jurors to opt for a life sentence.
“What has happened cannot be undone. We can’t rewind the clock and make it that this senseless crime never happened. All we can do is make the right decision going forward. We are asking you to make the right decision, and that is life,” Clarke said in her closing argument.
A life sentence would mean that “prison is where Mr. Bowers will die in obscurity, not as a hero and not as a martyr,” she said.
Bowers’ attorneys have argued that he has schizophrenia, a serious brain disorder whose symptoms include delusions and hallucinations, and that Bowers attacked the synagogue out of a delusional belief that Jews were helping to bring about a genocide of white people by coming to the aid of refugees and immigrants. Clarke recounted Bowers’ history of psychiatric hospitalizations, including an extended stay in a residential juvenile mental health program.
The defense also presented evidence of Bowers’ difficult childhood.
Olshan disputed the defense experts’ diagnosis of schizophrenia, asserting that Bowers was not suffering psychosis but had chosen to believe white supremacist rhetoric. And while acknowledging that Bowers was a depressed, neglected child, Olshan downplayed the significance of it, noting that Bowers had held jobs, paid bills, and was an otherwise functioning adult.
“He was not a child, he was a grown man. He was responsible for his actions, not his family and things that happened decades earlier. He was, he is responsible for his actions,” Olshan said.
In order to impose death, jurors must find that aggravating circumstances, which make the crime especially heinous, outweigh mitigating factors that could be seen as diminishing his culpability. Those aggravating circumstances could include the vulnerability of Bowers’ elderly and disabled victims and his targeting of Jewish people.
Olshan played a composite of 911 calls made from inside the synagogue, including audio of people being shot and a survivor’s horrified screams.
He said Bowers had taken “11 people, 11 full lives, 11 people who loved their families, 11 people who loved their friends, 11 people who were loved. ... How do you measure the impact of all of that loss?”
The prosecutor spoke about 75-year-old Joyce Fienberg’s care for her family and 65-year-old Richard Gottfried’s devotion to his faith. He said Dr. Jerry Rabinowitz, 66, had the ethos of a country doctor: “He loved delivering babies but he never delivered judgment.” David Rosenthal, 54, and Cecil Rosenthal, 59, intellectually disabled brothers, “loved life,” Olshan said. “But maybe more than anything, they loved Tree of Life.”
The other deceased victims were Rose Mallinger, 97; Bernice Simon, 84, and her husband, Sylvan Simon, 86; Dan Stein, 71; Melvin Wax, 87; and Irving Younger, 69.
The attack also wounded seven people, including five responding police officers. Bowers was shot three times before surrendering when he ran out of ammunition.
___
Rubinkam reported from northeastern Pennsylvania.
Copyright 2023 The Associated Press. All rights reserved.
|
https://www.kxii.com/2023/07/31/jury-poised-deliberate-death-penalty-or-life-sentence-gunman-pittsburgh-synagogue-massacre/
| 2023-07-31T20:46:41
| 1
|
https://www.kxii.com/2023/07/31/jury-poised-deliberate-death-penalty-or-life-sentence-gunman-pittsburgh-synagogue-massacre/
|
Published: Jul. 31, 2023 at 4:15 PM EDT|Updated: 31 minutes ago
Second Quarter Highlights
Second quarter 2023 net income attributable to Huntsman of $19 million compared to $228 million in the prior year period; second quarter 2023 diluted earnings per share of $0.11 compared to $1.10 in the prior year period.
Second quarter 2023 adjusted net income attributable to Huntsman of $39 million compared to $250 million in the prior year period; second quarter 2023 adjusted diluted earnings per share of $0.22 compared to $1.21 in the prior year period.
Second quarter 2023 adjusted EBITDA of $156 million compared to $410 million in the prior year period.
Second quarter 2023 net cash provided by operating activities from continuing operations was $40 million. Free cash flow from continuing operations was a use of cash of $11 million for the second quarter 2023 compared to a source of cash of $178 million in the prior year period.
Repurchased approximately 3.8 million shares for approximately $98 million in the second quarter 2023.
THE WOODLANDS, Texas, July 31, 2023 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today reported second quarter 2023 results with revenues of $1,596 million, net income attributable to Huntsman of $19 million, adjusted net income attributable to Huntsman of $39 million and adjusted EBITDA of $156 million.
Peter R. Huntsman, Chairman, President, and CEO, commented:
"During the quarter, business activity in each of our core regions remained under pressure, although we did see demand fundamentals in many of our core markets stabilize, albeit at a lower level than the prior year. We continued to drive efficiencies in our cost structure which will ensure we are well positioned to improve profitability once demand returns to a more normalized level. We remain positive on the long-term trends and value we will capture in energy efficiency and lightweighting in the construction, transportation, and industrial markets. Over the past several years we have made a significant effort to reduce leverage and drive capital discipline. The output of this effort is now allowing us to return significant amounts of capital to shareholders during a year which for the chemical industry may end up being just as, if not more, challenging than the pandemic year 2020. Our financial strength is also allowing us to evaluate both organic and in-organic investment opportunities to strengthen our Company for the long-term, however, we will continue to be disciplined with our available capital and protect our investment grade rating."
Segment Analysis for 2Q23 Compared to 2Q22
Polyurethanes
The decrease in revenues in our Polyurethanes segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes, lower MDI average selling prices and the negative impact of foreign currency exchange rate movements against the U.S dollar. Sales volumes decreased primarily due to lower demand, primarily in the Americas. MDI average selling prices decreased primarily due to less favorable supply and demand dynamics. The decrease in segment adjusted EBITDA was primarily due to lower sales volumes, lower MDI margins, the negative impact of foreign currency exchange rate movements against the U.S. dollar and a gain from an insurance settlement received in the second quarter of 2022, partially offset by higher equity earnings from our minority-owned joint venture in China and cost savings achieved from our cost optimization programs.
Performance Products
The decrease in revenues in our Performance Products segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes and reduced average selling prices, partially offset by improved sales mix. Sales volumes decreased in all regions primarily due to slowing construction activity, and reduced demand in coatings and adhesives, lubes and other industrial markets. The decrease in segment adjusted EBITDA was primarily due to decreased sales volumes and lower average selling prices.
Advanced Materials
The decrease in revenues in our Advanced Materials segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes, partially offset by higher average selling prices. Sales volumes decreased primarily due to reduced customer demand in our infrastructure markets and the deselection of lower margin business. Average selling prices increased largely due to improved sales mix. The decrease in segment adjusted EBITDA was primarily due to lower sales volumes.
Corporate, LIFO and other
For the three months ended June 30, 2023, adjusted EBITDA from Corporate and other was a loss of $38 million, which remained the same as a loss of $38 million for the same period of 2022.
Liquidity and Capital Resources
During the three months ended June 30, 2023, our free cash flow from continuing operations was a use of cash of $11 million as compared to a source of cash of $178 million in the same period of 2022. As of June 30, 2023, we had approximately $1.9 billion of combined cash and unused borrowing capacity.
During the three months ended June 30, 2023, we spent $51 million on capital expenditures from continuing operations as compared to $65 million in the same period of 2022. During 2023, we expect to spend between $230 million to $250 million on capital expenditures.
Income Taxes
In the second quarter of 2023, our effective tax rate was 46% and our adjusted effective tax rate was 39%. We expect our 2023 adjusted effective tax rate to be approximately 26% to 29%. We expect our long-term adjusted effective tax rate to be approximately 22% to 24%. Our second quarter 2023 tax expense was negatively impacted by an $8 million non-cash valuation allowance increase.
Earnings Conference Call Information
We will hold a conference call to discuss our second quarter 2023 financial results on Tuesday, August 1, 2023, at 10:00 a.m. ET.
The conference call will be accompanied by presentation slides that will be accessible via the webcast link and Huntsman's investor relations website, www.huntsman.com/investors. Upon conclusion of the call, the webcast replay will be accessible via Huntsman's website.
Upcoming Conferences During the third quarter 2023, a member of management is expected to present at: UBS Chemical Conference on September 6, 2023 Jefferies Industrials Conference on September 7, 2023
A webcast of the presentation, if applicable, along with accompanying materials will be available at www.huntsman.com/investors.
About Huntsman: Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2022 revenues of approximately $8 billion from our continuing operations. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 60 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 7,000 associates within our continuing operations. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Forward-Looking Statements: This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, divestitures or strategic transactions, business trends and any other information that is not historical information. When used in this press release, the words "estimates," "expects," "anticipates," "likely," "projects," "outlook," "plans," "intends," "believes," "forecasts," or future or conditional verbs, such as "will," "should," "could" or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, management's examination of historical operating trends and data, are based upon our current expectations and various assumptions and beliefs. In particular, such forward-looking statements are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the Company's operations, markets, products, prices and other factors as discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"). Significant risks and uncertainties may relate to, but are not limited to, increased energy costs in Europe, inflation and resulting monetary tightening in the US, geopolitical instability, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of the Company's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions and manufacturing optimization improvements in the Company's businesses and to realize anticipated cost savings, and other financial, operational, economic, competitive, environmental, political, legal, regulatory and technological factors. Any forward-looking statement should be considered in light of the risks set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022, which may be supplemented by other risks and uncertainties disclosed in any subsequent reports filed or furnished by the Company from time to time. All forward-looking statements apply only as of the date made. Except as required by law, the Company undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.
|
https://www.wbtv.com/prnewswire/2023/07/31/huntsman-announces-second-quarter-2023-earnings/
| 2023-07-31T20:46:40
| 0
|
https://www.wbtv.com/prnewswire/2023/07/31/huntsman-announces-second-quarter-2023-earnings/
|
NICOSIA, Cyprus (AP) — A Cyprus court on Monday sentenced a British man who killed his ailing wife in their retirement home to two years in prison, rejecting a defense request to hand down a suspended sentence after convicting him earlier of manslaughter.
State prosecutor Andreas Hadjikyrou said the three-judge bench imposed the prison term as a “deterrent,” although the judges had earlier ruled that David Hunter’s decision to suffocate his wife Janice in December 2021 was made on the spur of the moment because he could no longer stand seeing her weeping in pain.
Hadjikyrou told The Associated Press the court took into account that Hunter, 76, acted “out of love” to save his wife, who was suffering from a blood ailment when he closed her mouth and nose with his hands as she sat in a recliner in their Paphos home.
It also took into consideration Hunter’s advanced age and that he had no previous criminal record.
Justice Abroad, a group that defends Britons facing legal troubles in foreign countries, said in a statement that Hunter could be released by Aug. 18 after already having spent more than 18 months in custody.
“This has been a tragic case and difficult for all of those involved with it, but today’s decision was the right one and allows David and his family to grieve together,” said Michael Polak from Justice Abroad.
Hunter had faced a charge of premeditated murder, but the court found in its July 21 ruling that the prosecution didn’t prove beyond a reasonable doubt that there was premeditation in his actions.
The court had accepted witness testimony that Janice feared her blood ailment would develop into full-blown leukemia and had repeatedly pleaded with her husband to take her life because she didn’t want to share the fate of her sister, who died of the disease.
Hunter attempted to take his own life by consuming a large amount of pills after suffocating his wife, but medical staff saved his life.
The court cited expert testimony that Janice Hunter suffered from myelodysplastic syndrome, a type of blood cancer which “to a large degree” — as much as 45% — could turn into leukemia, although there was no proof that she had indeed developed the disease because no definitive tests were conducted.
But the court said both husband and wife believed that Janice would develop it because of her sister’s fate.
David Hunter’s earlier assurances to Janice that he would help her fulfill her wish to end her life and not suffer anymore didn’t indicate any premeditation, the court said.
Hadjikyrou said defense lawyers had rejected a plea deal in December 2022 for the defendant to plead guilty to manslaughter because they insisted the facts of the case include an agreement Hunter and his wife allegedly made for him to take her life.
The state prosecutor said the court didn’t accept that such an agreement had indeed been made. He said the Cyprus attorney-general has 10 days to decide whether to appeal the sentence.
|
https://www.yourbasin.com/news/international/ap-cyprus-court-hands-british-man-a-2-year-prison-term-for-killing-his-ailing-wife-to-spare-her-pain/
| 2023-07-31T20:46:41
| 1
|
https://www.yourbasin.com/news/international/ap-cyprus-court-hands-british-man-a-2-year-prison-term-for-killing-his-ailing-wife-to-spare-her-pain/
|
A new school year is stressful but shopping for it shouldn’t be
The long summer break is a great time for kids to get their minds off the coming school year. But whether they stayed home or went to summer camp, there comes a time when you must start to plan ahead.
While they might be more concerned about a new wardrobe, parents know that they won’t pass the new year with just a bright smile. They’re going to need supplies, and it might seem like a daunting task if you don’t know where to start. Take the unnecessary stress out of back-to-school shopping by getting a supply kit packed with everything they’ll need.
Shop this article: Moda West 52-Piece Back to School Supply Kit for K-12, School Supply Boxes 32-Piece Back To School Supply Box Grades K-5 and School Supply Bundle Pack for High School, Middle School or College
Essential ingredients for a successful start
Being thoroughly prepared is an excellent way to start a new grade. Of course, different grades need different items in their kits, but some universal objects are great from kindergarten to senior high.
For basic note-taking and studying, it’s essential to have a few pens, a pencil, an eraser and a ruler. Some paperclips, file dividers or a pencil sharpener will also come in handy. All these items need to be stored somewhere, and a sturdy pencil case is the best for that.
To nail art projects or presentations, a couple of Sharpies, colored highlighters, scissors and a glue stick will do wonders. But naturally, you can’t expect your child to walk around school carrying their art supplies and pencil case by hand. Put everything into a sturdy backpack or shoulder bag, ensuring that it is big enough for their textbooks, too.
Age-appropriate supply kits
Generally, back-to-school supply kits are made up of items used by kindergarten, elementary or middle school students. But if you want to put your own kit together, you must ensure that the items are age-appropriate.
For example, for younger students, you should avoid sharp scissors in favor of blunt, safety scissors. High school students probably won’t use a glue stick but might prefer a contact adhesive for paper or cardboard. You’ll also get strange looks if you throw in a box of crayons, so rather include some durable highlighters or markers.
Don’t forget to review your kid’s recommended items for the upcoming year. You might be covering the essentials with a supply kit, but there could be other objects that they need, such as a protractor, a sturdy lunch box, different colored pens or a stapler.
Best back-to-school supply kits
Moda West 52-Piece Back to School Supply Kit for K-12
This massive selection of 52 pieces comes pre-packaged and has everything a child needs. It includes notebooks, folders, pens and pencils, highlighters, an eraser and a clear pencil case. For art projects, it includes a 5-inch scissor, two glue sticks and an 8-inch ruler.
Sold by Amazon
Trail Maker 20-Piece School Supplies for K-12
Suitable for all grades, this supply kit includes a spiral notebook, a pocket folder, a ruler, three ballpoint pens and two pencils. You can store everything in the canvas pencil case. While it doesn’t include scissors, there is a glue stick and crayons for projects.
Sold by Amazon
Trail Maker 45-Piece School Essentials
This 45-piece bulk pack of school supplies is perfect for students up to elementary school. In addition to the two spiral notebooks and four pocket folders, the supply kit includes several pens, pencils, highlighters and two glue sticks. There is also a box of crayons, a ruler and scissors.
Sold by Amazon
School Supply Boxes 32-Piece Back To School Supply Box Grades K-5
Perfect for elementary school students, this supply box comes with a clear plastic pencil case, 12 colored pencils and a 10-pack of regular pencils. For creative projects, there is a 10-pack of Crayola markers, a 24-pack of Crayola crayons, glue sticks and scissors.
Sold by Amazon
Moda West 17-Inch Backpacks with 52-Piece School Supply Kit
If there are a lot of kids in the neighborhood or the family, this bundle is an excellent choice. The kit includes eight 17-inch backpacks, each with its own 52-piece school supplies. This comprises two notebooks, several pens and pencils, highlighters and pocket folders.
Sold by Amazon
Bundles Galore Mega Back to School Supply Kit Bundle
This bundle is perfect for all grades and includes everything a student might need. The more than 90 pieces include 10 pocket folders, five notebooks, four glue sticks, several pens and pencils and five Sharpie chisel tip highlighters. And since returning to school is tough, it includes a 2-inch stress ball.
Sold by Amazon
Sharpie Expo Paper Mate Back 2 School Essentials 37-Piece Kit
Back to school is made easy with this bundle from Sharpie. The 37-piece kit includes a host of items for late-night studying, such as six mechanical pencils, six regular lead pencils, two fine-point Sharpie markers, and five highlighters. There are also two erasers, two glue sticks and a ruler.
Sold by Amazon
School Supply Bundle Pack for High School, Middle School or College
This bundle includes a ring binder, two spiral notebooks, a pack of dividers, five mechanical pencils and index cards. Perfect for middle school students through college.
Sold by Amazon
Want to shop the best products at the best prices? Check out Daily Deals from BestReviews.
Sign up here to receive the BestReviews weekly newsletter for useful advice on new products and noteworthy deals.
Charlie Fripp writes for BestReviews. BestReviews has helped millions of consumers simplify their purchasing decisions, saving them time and money.
BestReviews spends thousands of hours researching, analyzing, and testing products to recommend the best picks for most consumers.
Copyright 2023 BestReviews, a Nexstar company. All rights reserved.
|
https://fox59.com/reviews/br/education-br/homeschooling-br/8-school-supply-kits-that-make-back-to-school-shopping-easy/
| 2023-07-31T20:46:42
| 0
|
https://fox59.com/reviews/br/education-br/homeschooling-br/8-school-supply-kits-that-make-back-to-school-shopping-easy/
|
HONG KONG (AP) — The discovery of a whale carcass in Hong Kong waters Monday sparked an outpouring of grief on social media, with many comments blaming the mammal’s death on sightseers.
Many residents speculated that the dead mammal was the same whale that had been attracting groups of sightseers since it was first spotted in the city’s waters in mid-July.
Compass Chan, scientific officer of Ocean Park Conservation Foundation Hong Kong, didn’t confirm whether it was the same whale. But he said an initial check of the dead whale found a new wound on its back, in addition to two old wounds.
“It’s a pity,” Chan said at a media briefing. “I think it’s a good opportunity for everyone to think seriously about how we should get along with other species in nature.”
The whale’s cause of death would have to be confirmed by a necropsy, he said.
The carcass was in found in the waters in Sai Kung — a district known for its hiking trails, beaches and islands. Many residents blamed the death on sightseers who have flocked to those waters since a whale was spotted there about two weeks ago. Some posted a Canto-pop song whose title translates as “Whale Eater.”
The foundation had released a statement last week saying that crowds of people had been seen approaching the animal, which was believed to be a Bryde’s whale of about seven meters (23 feet) long. The foundation said at the time that the whale had propeller wounds and that nearby human activity could cause it stress and have life-threatening consequences.
The government said Monday night that the necropsy might take several days and that its results could help shape future policy for how to deal with whales in Hong Kong waters.
|
https://www.yourbasin.com/news/international/ap-discovery-of-whale-carcass-in-hong-kong-sparks-anger-over-the-potential-damage-done-by-sightseers/
| 2023-07-31T20:46:47
| 0
|
https://www.yourbasin.com/news/international/ap-discovery-of-whale-carcass-in-hong-kong-sparks-anger-over-the-potential-damage-done-by-sightseers/
|
Trader Joe’s falafel recalled because it may contain rocks
(Gray News) – Trader Joe’s is recalling a cooked falafel product because it “may contain rocks.”
The grocery chain announced Friday that the supplier of its Fully Cooked Falafel (SKU# 93935) warned it about the product possibly containing rocks.
Trader Joe’s said the recalled falafel is sold in its stores in Alabama, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Vermont, Wisconsin and Washington, D.C.
“All potentially affected product has been removed from sale and destroyed,” Trader Joe’s said in its announcement.
Customers are urged to discard the falafel and return it to any Trader Joe’s location for a full refund.
Trader Joe’s also announced Friday that it was recalling some of its cookies because they also may contain rocks, and the chain recently recalled its broccoli cheddar soup because it may contain insects.
Copyright 2023 Gray Media Group, Inc. All rights reserved.
|
https://www.kxii.com/2023/07/31/trader-joes-falafel-recalled-because-it-may-contain-rocks/
| 2023-07-31T20:46:47
| 1
|
https://www.kxii.com/2023/07/31/trader-joes-falafel-recalled-because-it-may-contain-rocks/
|
ARMONK, N.Y., July 31, 2023 /PRNewswire/ -- The IBM (NYSE: IBM) board of directors has elected Michael Miebach to the board, effective October 30, 2023.
Michael Miebach, 55, is the chief executive officer of Mastercard Incorporated and a member of its board of directors. An innovator and technologist, Mr. Miebach has led Mastercard, a global technology company in the payments industry, since January 2021. Previously Mastercard's chief product officer, Mr. Miebach has deep experience in digital transformation, cybersecurity and delivering data-driven insights.
Arvind Krishna, IBM chairman and chief executive officer, said: "We are delighted that Michael Miebach will join the IBM board of directors. Michael is an accomplished technologist and international business leader. His insights and experience will strongly benefit IBM and its shareholders."
Mr. Miebach is a member of the Business Roundtable, the Business Council and the International Business Council of the World Economic Forum. He is a trustee of the United States Council for International Business and also serves on the United States Treasury Advisory Committee on Racial Equity.
Mr. Miebach holds a Master of Business Administration from the University of Passau in Germany.
View original content to download multimedia:
SOURCE IBM
|
https://www.wbtv.com/prnewswire/2023/07/31/ibm-elects-michael-miebach-its-board-directors/
| 2023-07-31T20:46:47
| 1
|
https://www.wbtv.com/prnewswire/2023/07/31/ibm-elects-michael-miebach-its-board-directors/
|
ATLANTA, July 31, 2023 /PRNewswire/ -- The Aaron's Company, Inc. (NYSE: AAN) today released its second quarter 2023 financial results. Complete financial results are available at investor.aarons.com. Highlights of those results are included below and in the attached supplement.
Second Quarter 2023 Consolidated Results1:
- Revenues were $530.4 million, a decrease of 13.1%
- Net earnings were $6.5 million, an increase of 222.0%; Non-GAAP net earnings2 were $12.2 million, a decrease of 50.6%
- Adjusted EBITDA2,3 was $42.4 million, a decrease of 17.0%
- Diluted EPS was $0.21; Non-GAAP diluted EPS2 was $0.39
- Write-offs were 5.4% in the Aaron's Business, an improvement of 30 basis points
- Reduced debt $36.1 million in the quarter and $124.3 million since the prior year quarter-end
- Updates 2023 full year outlook; lowers revenues, maintains adjusted EBITDA, and increases adjusted free cash flow
Second Quarter 2023 Key Items:
The Aaron's Company
- Earnings were ahead of internal expectations largely due to ongoing expense controls, despite lower revenues in both business segments
- Ended the quarter with cash and cash equivalents of $38.4 million and debt of $186.1 million, resulting in a net debt2 reduction of $30.2 million in the quarter primarily due to strong cash provided by operating activities
Aaron's Business
- Earnings before income taxes were $30.8 million; adjusted EBITDA was $49.5 million, which exceeded internal expectations and increased 3.0% as compared to the prior year quarter primarily due to lower total operating expenses and lower write-offs
- Personnel and other operating expenses benefited from cost optimization initiatives and ongoing investments in technology platforms and marketing analytics
- Ended the quarter with 230 GenNext stores, 101 hubs, and 101 showrooms
- GenNext stores accounted for approximately 29% of lease revenues & fees and retail sales
- E-commerce revenues increased 5.5% as compared to the prior year quarter and represented 17.9% of lease revenues
BrandsMart
- Earnings before income taxes were $1.1 million; adjusted EBITDA was $4.5 million, which exceeded internal expectations despite lower revenues due to continued pressure on customer demand
- Began construction on first new BrandsMart store planned to open in Augusta, GA in Q4 2023
The Company will host an earnings conference call tomorrow, August 1, 2023, at 8:30 a.m. ET. Chief Executive Officer Douglas A. Lindsay will host the call along with President Steve Olsen and Chief Financial Officer C. Kelly Wall. A live audio webcast of the conference call and presentation slides may be accessed at investor.aarons.com and the hosting website at https://events.q4inc.com/attendee/457512107. A transcript of the webcast will also be available at investor.aarons.com.
About The Aaron's Company, Inc.
Headquartered in Atlanta, The Aaron's Company, Inc. (NYSE: AAN) is a leading, technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions of appliances, electronics, furniture, and other home goods across its brands: Aaron's, BrandsMart U.S.A., BrandsMart Leasing, and Woodhaven. Aaron's offers a direct-to-consumer lease-to-own solution through its approximately 1,260 Company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform. BrandsMart U.S.A. is one of the leading appliance retailers in the country with ten retail stores in Florida and Georgia, as well as its e-commerce platform. BrandsMart Leasing offers lease-to-own solutions to customers of BrandsMart U.S.A. Woodhaven is the Company's furniture manufacturing division. For more information, visit investor.aarons.com, aarons.com, and brandsmartusa.com.
View original content to download multimedia:
SOURCE The Aaron’s Company, Inc.
|
https://www.kxii.com/prnewswire/2023/07/31/aarons-company-inc-reports-second-quarter-2023-financial-results-updates-full-year-outlook/
| 2023-07-31T20:46:48
| 1
|
https://www.kxii.com/prnewswire/2023/07/31/aarons-company-inc-reports-second-quarter-2023-financial-results-updates-full-year-outlook/
|
Smart back-to-school shopping strategies
With inflation still rising, it is vital to have a shopping strategy mapped out to purchase back-to-school supplies this year. Especially for your high schooler, because they need more items. And those items tend to carry a higher price tag.
Buying school supplies, however, is a little different than shopping for other items. In most cases, you will have several lists created by each of your student’s teachers. Some items may be very specific, such as the exact model of a TI calculator, while others may be generic, such as a three-ring binder.
Getting the correct supplies at the best price requires time and planning. This guide will help you make smart purchasing decisions. It covers basic back-to-school shopping strategies and lists 12 products that will help prepare your kid for high school.
Shop this article: Hydro Flask Stainless Steel Reusable Water Bottle, JanSport Cool Student Backpack and Texas Instruments TI-84 Plus CE
What school supplies does a high school student need?
While it is essential that you first consider the lists that your student’s teachers provide, there are a few general categories for you to consider.
Essentials
These are the items that your student will use every day. You will find most of these on your student’s supply lists that they get from their teachers. They will include pens, pencils, erasers, markers, notebook paper, binders, composition books and more.
Organizational supplies
Organizational supplies are anything your student uses to organize, hold or transport the items they use every day. These products may include a pencil case, a backpack, an assignment book, a calendar or binder dividers.
Tech and tools
This category includes anything your student requires to complete their assignments or to solve a problem they might run into during the day, such as a torn notebook sheet. It can be a specific calculator, a tablet, a compass, a ruler, a protractor, hole reinforcements, tape or even white out.
Study supplies
If your child wants to spend a little extra time learning, you’ll need items to help them study. These could be post-it notes, page markers, index cards and highlighters.
Clothing
High school students are still growing. What fit last year might not fit this year. You may need comfortable shoes, casual clothing, clothing that displays school spirit, athletic wear for PE, sneakers, jackets, coats, specific gear for co-curricular activities and more.
Accessories
One category that students and parents may forget is the accessories that are essential to getting through each day. These will vary from student to student but may include a water bottle, a lunch bag, a case for glasses, contacts, combination locks for lockers, charging devices, towels, shower supplies for after PE, medications, an EpiPen and more.
Tips for back-to-school shopping
Strategy is the key when it comes time for back-to-school shopping. These tips can help you get everything you need for that first day.
Shop early
Even if the country wasn’t being plagued with supply chain issues, back-to-school products typically become unavailable by the end of summer. Do your shopping early so that your student has everything they need to start the school year off right.
Use school lists
Teachers make classroom lists for a reason: these are the items your student will need to succeed in the subject. The teacher’s supplies list is your starting point. Get those essentials first.
Don’t forget items that aren’t on the list
Classroom lists don’t always include products that will make your student’s life easier. After you check off all the items from their teachers’ lists, ensure you get the personal items they need daily.
Consider what you already have
If you have more than one student, the older child may already have what your younger child needs. Before buying a new item, check the items you already have at home.
Spend less on clothing
Clothing is important, but so is that expensive calculator. If it comes down to getting a $200 pair of sneaks or a $100 calculator, remember that the calculator will last longer.
Purchase quality items
School supplies need to be rugged. Notebooks are used daily, tossed in a backpack, thrown in a locker and mistreated. If you have a choice between getting a cheap budget item from a dollar store and paying a little more for a quality name-brand item, it is usually worth spending a little more on an item that will last the entire school year or longer.
Pay attention to sales
Back-to-school sales are a great way to get people to spend money on a specific retailer. Many stores will have deep discounts on a couple of key items that get you to their site. Take advantage of these sales, but consider if the other items that the retailer has on sale are worth it. If not, wait till the next sale or purchase from a different retailer to get the best deal.
It is also a good idea to download and install retailer apps, so you can track specific items and know when the best time to buy is.
Consider environmentally kind products
While this might not help you save money, it will help you save the earth. Always consider products that have been or can be recycled and purchased from companies with environmentally friendly manufacturing and business practices.
Budget-friendly products for your high schooler
Hydro Flask Stainless Steel Reusable Water Bottle
Hydration is essential to learning. It helps your student focus and feel revitalized. Sending your high schooler off for the day with 32 ounces of water in this vacuum-insulated option will help them stay hydrated throughout the day. Hydro Flask water bottles have a leakproof lid and a lifetime guarantee.
Sold by Amazon
JanSport Cool Student Backpack
Your high schooler needs to bring many items to and from school each day. A well-constructed backpack is the ideal tool to carry all of these. JanSport’s Cool Student Backpack is durable, washable and has many color options. It is designed with ergonomic shoulder straps and zippered compartments for organization and comes with a lifetime guarantee.
Sold by Amazon
Five Star Reinforced College Ruled Filler Paper
Reinforced notebook paper is a game-changer in the life of a student. This pack of 100 sheets of notebook paper is reinforced around the holes to resist tearing. It will prevent lost schoolwork and help keep all of your student’s pages organized.
Sold by Amazon
Gildan Heavy Blend Unisex Hooded Sweatshirt
A hoodie is essential school wear. This affordable offering from Gildan is made of 50% cotton and 50% polyester. It features a zipper closure and anti-pilling air jet yarn. The ribbed cuffs and waistband have spandex to help provide a more secure fit.
Sold by Amazon
Adidas Squad Insulated Lunch Bag
Teenagers need to refuel throughout the long day. Bringing lunch from home lets your student choose what they want to eat while saving you money. This durable lunch bag can keep their food at the perfect temperature and prevent it from getting broken or squished in transit.
Sold by Amazon
Texas Instruments TI-84 Plus CE
Graphing calculators are required by high school science and math teachers. Texas Instruments make a quality product that can accompany your teenager throughout their entire high school career, and possibly into college. This popular model has a 10-digit LCD display and 12 software applications. The graphic functions can handle polar, sequence, cobweb plot, zoom, parametric plot, histogram, scatter plot, and more.
Sold by Amazon
Belkin Boost Charge Wireless Charging Pad
Between classes, activities and part-time jobs, your high schooler may have a longer workday than you. To get through that day, they need a fully charged phone. Belkin is a trusted name in charging technology. This portable wireless charging pad is compatible with newer Android smartphones and iPhones.
Sold by Amazon
Oxford Color Coded Ruled Index Cards
Flash cards are a classic tool used for studying and improving memory. These cards are lined to allow for neatness, while the color-coded bar at the top lets the student organize the cards by subject or category.
Sold by Amazon
Prismacolor Premier Col-Erase Colored Pencils
A student can still use colored pencils at the high school level. Not only are they great for art class and doodling, but a student can use them for marking maps in history class, creating diagrams in science class and more.
Sold by Amazon
This set contains 10 essential tools often needed for geometry and drawing classes. Besides the typical items, such as a ruler and a protractor, you get a lettering guide, a pencil sharpener and more. The compass and divider have a short point for safety, and the set comes with a sturdy tin for organization.
Sold by Amazon
Avery Flexi-View 1-Inch 3-Ring View Binder
Avery’s flex binder has a clear window in the front, which is a handy place to store a class syllabus. It can hold 175 sheets of paper and has a flexible spine. The durable polypropylene cover means that you can use this binder over multiple school years.
Sold by Amazon
C-Line Top-Load Sheet Protector
Sheet protectors keep your student’s reference material unwrinkled and stain-free. The 50 standard-thickness polypropylene protectors are sealed on three sides. They are designed so students can add and remove materials while the protector remains secured in the binder.
Sold by Amazon
Want to shop the best products at the best prices? Check out Daily Deals from BestReviews.
Sign up here to receive the BestReviews weekly newsletter for useful advice on new products and noteworthy deals.
Allen Foster writes for BestReviews. BestReviews has helped millions of consumers simplify their purchasing decisions, saving them time and money.
Copyright 2023 BestReviews, a Nexstar company. All rights reserved.
|
https://fox59.com/reviews/br/education-br/homeschooling-br/back-to-school-on-a-budget-these-12-products-will-have-your-kid-ready-for-high-school/
| 2023-07-31T20:46:48
| 0
|
https://fox59.com/reviews/br/education-br/homeschooling-br/back-to-school-on-a-budget-these-12-products-will-have-your-kid-ready-for-high-school/
|
18-year-old from ‘Brainy Bunch’ family graduates with master’s degree
MONTGOMERY, Ala. (WSFA/Gray News) – At age 18, most people are just heading into their freshman year of undergraduate studies. But one 18-year-old from Alabama is graduating with her master’s degree.
Marianna Harding is graduating from Auburn University with a master’s degree in agriculture at the age of 18.
She also graduated from high school at age 11.
Harding comes from a Montgomery family known as “The Brainy Bunch” – she is one of 10 children, most of whom started college by the age of 12. One of the boys even graduated law school at 19.
All the children grew up homeschooled. Harding is the eighth child in the family.
She said there was always healthy competition between siblings.
“We all had different interest levels, and most of us different colleges,” she said.
In 2022, Harding earned her bachelor’s degree virtually from a university in Nebraska. Shortly after, she was off to Auburn’s campus to get her master’s degree.
“Although my focus was very much on studies, there was no lack of fun times,” she said.
While on campus, Harding was part of multiple clubs, a campus employee, and kept active in her church. She hopes that her story will encourage others to go after their goals no matter their age.
Now that she has graduated, Harding will begin working for the Lee County Extension where she’ll teach others about agriculture.
Parents Kip and Mona Lisa Harding made an appearance on NBC’s “Today Show” in 2014 to discuss their book, “The Brainy Bunch: The Harding Family’s Method to College Ready by Age Twelve.” They also have a YouTube channel.
“My kids are not any smarter than anybody else’s, they’re really motivated and they’re very hard working, but really feel like anyone can get these kinds of results,” Mona Lisa Harding said during a 2021 interview.
Copyright 2023 WSFA via Gray Media Group, Inc. All rights reserved.
|
https://www.wibw.com/2023/07/31/18-year-old-brainy-bunch-family-graduates-with-masters-degree/
| 2023-07-31T20:46:51
| 1
|
https://www.wibw.com/2023/07/31/18-year-old-brainy-bunch-family-graduates-with-masters-degree/
|
High prices ‘disproportionately pinching’ younger Americans, data shows
30% of Gen Z, 28% of millennials have no emergency savings
(InvestigateTV) — More than seven in 10 younger Americans are saving less because of inflation when compared to Gen X and baby boomers, a recent Bankrate.com survey found.
Sarah Foster is a principal writer for Bankrate.com. She said this is a time for younger Americans to be very mindful of how much they are spending and to hyper analyze their budgets.
Foster said the ultimate goal for Gen Z and millennials should be to make sure they are living within their means. She added there are several advantages to being young right now, especially when it comes to retirement contributions.
“Really the best way to gain wealth and beat inflation in the long run is to make sure that you’re holding a diverse portfolio of assets, including stocks,” Foster explained. “And so, we know that even if someone were to stop investing for three years because of inflation and they’re in their mid-twenties, they’d leave almost $200,000 on the table by the time they were 70.”
Foster said don’t stop retirement contributions during inflation. The amount can be reduced, but consistent contributions is key.
She said another reason younger Americans are being hit hard is they are early in their careers and haven’t reached their peak earnings.
Foster advised them to put any raises or extra money in savings or retirement accounts.
Bankrate has 11 tips for young Americans trying to reach financial goals during high inflation, including:
- Look for high-yield savings accounts that offer much better returns that traditional accounts
- Automate savings to build an emergency fund
- Wait 24 hours before any unnecessary purchases
Copyright 2023 Gray Media Group, Inc. All rights reserved.
|
https://www.wagmtv.com/2023/07/31/high-prices-disproportionately-pinching-younger-americans-data-shows/
| 2023-07-31T20:46:52
| 1
|
https://www.wagmtv.com/2023/07/31/high-prices-disproportionately-pinching-younger-americans-data-shows/
|
Updated July 31, 2023 at 4:09 PM ET
Pee-wee Herman, the comic creation of actor/writer Paul Reubens, would often toss taunts of the schoolyard into his casual conversation. It was one of the character's go-to bits.
"Why don't you take a picture? It'll last longer!"
"That's my name! Don't wear it out!"
And, most iconically,
"I know you are, but what am I?"
Of course, when it came to Pee-wee himself, with his tight gray suit, red bow tie, crew cut, rouged cheekbones and ruby-red lips, "What am I?" was the real question – it was the one he posed merely by existing.
Reubens died Sunday of cancer at the age of 70. He was an actor – but for a long time, he tried to convince the public that Pee-wee was a real person, not a character.
Folks didn't know what to make of Reubens' petulant man-child at first. Created in 1977, while Reubens was a member of the Los Angeles sketch troupe The Groundlings, Pee-wee was part prop comic, part brat and part trickster spirit. There was something fearless in Pee-wee, something unapologetic and brash that took you a second to process. The character was very obviously and intentionally what folks used to call a sissy – but how could a sissy own the stage like he did? Bask in the spotlight like he did? How could a sissy so confidently and explicitly dictate the terms for his audience on how to experience him?
The Pee-wee Herman Show at The Groundlings Theatre soon had LA hipsters lining up around the block for a midnight show that mixed puppets and parody with archival educational films – the precise fuel mixture that powered Reubens' later CBS Saturday morning show, Pee-wee's Playhouse.
It was never Peter Pan, what he was doing. Yes, Pee-wee was a boy who never grew up, but he was more than that — he was one singular adult's remembrance of what it was like being a kid. Specifically, of those parts of childhood we pretend not to see in our own children — the narcissism, the selfishness, the utter lack of basic human empathy. The monstrous bits.
In Pee-wee's Big Adventure, it manifested in his hilariously obsessive drive to recover his stolen bike — a quest which would cause him to trample on the feelings of friends like Amazing Larry (Lou Cutell) and Dottie (E.G. Daily). On Pee-wee's Playhouse, it took the form of gleeful admonitions to his viewers to "scream real loud" whenever anyone said the week's secret word. (Spare a thought for the long-suffering parents who'd hoped that sitting their kids in front of the TV would allow them a moment's peace to finish their coffee.) On 1988's magnificent holiday staple Pee-wee's Playhouse Christmas Special, Reubens zeroed in kids' ravenous greed for presents, turning Pee-wee into a monster who only reluctantly sees the light once guilted into it. (Like Scrooge, he's a lot more fun to hang around with before his last-minute epiphany.)
To watch Pee-wee was to re-experience childhood the way we'd forgotten it actually was – pure, concentrated, distilled to its essence, when riding your bike and playing with your toys and screaming real loud was all it took to fill a day. Pee-wee was a creature of impulse, anarchy and id – which is probably why Reubens' frequent appearances on Late Night with David Letterman helped launch him to stardom.
Reubens' silliness worked on a different frequency than Letterman's – Pee-wee was wilder and far less inhibited than Letterman could ever hope to be, and Letterman knew to play up his own tetchy, aggrieved discomfort at Pee-wee's hijinks for comedic effect. The two men vibrated at opposite ends of the comedic spectrum, but they worked together brilliantly. In those interview segments, which quickly devolved into Pee-wee's signature giggles, you laughed at Reubens' ability to take complete control of the experience, and at Letterman's entirely uncharacteristic willingness to give over the reins.
In the coming days, our social media feeds will fill up with a lot of Pee-wee's greatest hits – Large Marge; "Tequila!"; Jambi the Genie; Chairy; Reubens' extended and entirely improvised death scene in the Buffy the Vampire Slayer movie; "I'm a loner, Dot. A rebel."; and, of course, "Come on, Simone. Let's talk about your big 'but.'"
Me, though, I'll be putting on the aforementioned Pee-wee's Playhouse Christmas Special, because it will remind me of one of Reubens' most overlooked talents – his ability to sneak an artisanal blend of fey subversiveness into the mainstream. That special injected a defiantly, yet matter-of-fact, queer sensibility into the CBS primetime airwaves of Reagan's America: The Del Rubio Triplets! Zsa Zsa Gabor! Little Richard! Annette Funicello and Frankie Avalon! KD Lang! Charo! The LA Men's Chorus dressed up as a Marine choir! And, most indelibly, Grace Jones as green Gumby, drag singing a club mix of "The Little Drummer Boy."
Keep your "I meant to do that." Keep your dancing on the biker bar to "Tequila." The image of Reubens that I'll be holding closest to my heart over the next few days is of him rocking out in the background as Jones sings in the glare of the spotlight.
Because I swear you can see, in just the way he holds his body, the mischievous delight he's taking in what he's unleashing on an unsuspecting public: Grace Jones, ladies and gentlemen, delivered unto your living rooms, pulling up to the bumper of your cozy family holiday special, an entirely singular brand of weirdness served up to you hot and fresh, with a high, unselfconscious giggle.
Jennifer Vanasco contributed to earlier versions of this story.
Copyright 2023 NPR. To see more, visit https://www.npr.org.
|
https://www.wfit.org/in-memoriam/2023-07-31/but-what-am-i-pee-wee-herman-creator-paul-reubens-dies-at-70
| 2023-07-31T20:46:52
| 1
|
https://www.wfit.org/in-memoriam/2023-07-31/but-what-am-i-pee-wee-herman-creator-paul-reubens-dies-at-70
|
HONG KONG (AP) — A French man is believed to have fallen to his death from a high-rise residential building in Hong Kong last week, police said on Monday, with local media outlets identifying him as daredevil Remi Lucidi.
Police said a 30-year-old man’s body was found on a patio in the city’s upscale Mid-Levels area. He was believed to have engaged in extreme sports, police said, without identifying him.
Officers conducted an initial investigation and said he apparently fell from a rooftop. No suicide note was found at the scene, they said. The cause of his death would have to be verified by an autopsy, they added.
Local media, including the South China Morning Post, said the man was Lucidi, 30. The Post cited an unnamed source saying he was last seen alive knocking on a penthouse window on the 68th floor of a residential tower on Thursday evening. The Associated Press has not been able to verify his identity.
Lucidi, who used the name “Remi Enigma” on social media, last posted a photo of Hong Kong’s night view a week ago on Instagram and tagged the location as Times Square in shopping district Causeway Bay. The photo appeared to be taken from above.
Supporters mourned him on social media.
Lucidi posted to Instagram as he climbed various tall structures around the world and took selfies, including one he captioned, “Above the Sky, 425m” and tagged Dubai as the location.
|
https://www.yourbasin.com/news/international/ap-french-daredevil-who-climbed-towers-around-world-believed-to-have-fallen-to-his-death-in-hong-kong/
| 2023-07-31T20:46:53
| 1
|
https://www.yourbasin.com/news/international/ap-french-daredevil-who-climbed-towers-around-world-believed-to-have-fallen-to-his-death-in-hong-kong/
|
THOUSAND OAKS, Calif., July 31, 2023 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced that it will report its second quarter financial results on Thursday, August 3, 2023, after the close of the U.S. financial markets. The announcement will be followed by a conference call with the investment community at 1:30 p.m. PT. Participating in the call from Amgen will be Robert A. Bradway, chairman and chief executive officer, and other members of Amgen's senior management team.
Live audio of the conference call will be simultaneously broadcast over the internet and will be available to members of the news media, investors and the general public.
The webcast, as with other selected presentations regarding developments in Amgen's business given by management at certain investor and medical conferences, can be found on Amgen's website, www.amgen.com, under Investors. Information regarding presentation times, webcast availability and webcast links are noted on Amgen's Investor Relations Events Calendar. The webcast will be archived and available for replay for at least 90 days after the event.
About Amgen
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.
Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.
Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the "World's Best Employers" by Forbes and one of "America's 100 Most Sustainable Companies" by Barron's.
For more information, visit Amgen.com and follow us on Twitter, LinkedIn, Instagram, TikTok and YouTube.
CONTACT: Amgen, Thousand Oaks
Jessica Akopyan, 805-440-5721 (media)
Elissa Snook, 609-251-1407 (media)
Arvind Sood, 805-447-1060 (investors)
View original content to download multimedia:
SOURCE Amgen
|
https://www.kxii.com/prnewswire/2023/07/31/amgen-announces-webcast-2023-second-quarter-financial-results/
| 2023-07-31T20:46:54
| 1
|
https://www.kxii.com/prnewswire/2023/07/31/amgen-announces-webcast-2023-second-quarter-financial-results/
|
IEEE Transactions on Pattern Analysis and Machine Intelligence (TPAMI) achieves highest impact factor among Computer Society journals
LOS ALAMITOS, Calif., July 31, 2023 /PRNewswire/ -- The IEEE Computer Society (CS), the leading global computer science and engineering member community, announced today that its journal IEEE Transactions on Pattern Analysis and Machine Intelligence (TPAMI) earned the highest 2022 Journal Impact Factor™ (JIF™) of all IEEE CS publications, securing the top spot among artificial intelligence journals.
"Computer science and engineering represent some of the most prominent, promising areas of research today," said Nita Patel, president, IEEE CS. "As the number of papers in our field continues to climb, paper acceptance gets increasingly competitive, and our editors work tirelessly to ensure that only the top papers make their way into our journals. We're thrilled to, once again, hold top impact factor rankings, and we thank all of our volunteers for their commitment to excellence."
Impact factor measures the frequency with which the average article in a publication has been cited in a particular year. The calculation is based on a two-year period and involves dividing the number of times articles were cited by the number of articles that are citable. It offers a key metric to assess the overall strength and industry influence of a particular publication.
Overall, 11 IEEE CS journals now hold the coveted top impact factor ranking in their specialty field. The following four publications join TPAMI to round out the top five highest-ranked IEEE CS journals:
- IEEE Transactions on Affective Computing (TAC)
- IEEE Transactions on Knowledge and Data Engineering (TKDE), a new entrant to IEEE CS' top five journals
- IEEE Transactions on Services Computing (TSC)
- IEEE Transactions on Mobile Computing (TMC), a new entrant to IEEE CS' top five journals
In addition, IEEE CS' fully open access publication, IEEE Open Journal of the Computer Society, received its first impact factor in Clarivate's Emerging Sources Citation Index™ (ESCI), which features newly launched, niche, and open access journals publishing high-quality research on a range of topics. This is the first year Clarivate included the multidisciplinary ESCI in its JIF review.
"We're thrilled that IEEE Open Journal of the Computer Society had the opportunity to be recognized this year," said Greg Byrd, IEEE CS VP of Publications. "With the innovative research it brings to the field, it is certain to have a long-standing impact on the computer science and engineering community."
Impact factor applies not only to scientific and engineering journals but to technical magazines as well. Those IEEE CS publications with the highest impact factor rankings include:
"One of the most important things about impact factor rankings is that they point to the most highly researched topics in the field," said Patel. "This year, there's a heavy focus on artificial intelligence, data science, and mobile computing. It will be interesting to watch the evolution of these topics and the advances that arise from papers presented in Computer Society publications."
JIF rankings are released annually in Clarivate's Journal Citation Reports™ (JCR™). These reports evaluate more than 21,500 high-quality academic journals from across more than 250 scientific and research disciplines.
To learn more about IEEE Computer Society journals and the research they offer, visit https://www.computer.org/publications.
About the IEEE Computer Society
Engaging computer engineers, scientists, academia, and industry professionals from all areas of computing, the IEEE Computer Society (CS) sets the standard for the education and engagement that fuels continued global technological advancement. Through conferences, publications, and programs, and by bringing together computer science and engineering leaders at every phase of their career for dialogue, debate, and collaboration, IEEE CS empowers, shapes, and guides the future of not only its members, but the greater industry, enabling new opportunities to better serve our world. Visit computer.org for more information.
View original content to download multimedia:
SOURCE IEEE Computer Society
|
https://www.wbtv.com/prnewswire/2023/07/31/ieee-computer-society-journals-claim-top-impact-honors/
| 2023-07-31T20:46:54
| 0
|
https://www.wbtv.com/prnewswire/2023/07/31/ieee-computer-society-journals-claim-top-impact-honors/
|
Comparing the iRobot Roomba j7+ and s9+ models
Roomba is probably the first name that comes to mind when you think about robot vacuums — and for good reason. iRobot’s line of vacuums, around for more than 20 years, has certainly paved the way with innovative, intelligent designs. The Roomba j7+ and Roomba s9+ are the brand’s two most premium models, offering plenty of advanced features to make cleaning a snap, so choosing between the two robots isn’t easy.
In the BestReviews Testing Lab, we found that, while they are roughly the same size, have similar mapping abilities and both feature a convenient self-emptying base, the j7+ and s9+ differ in a few key areas. The j7+ offers superior obstacle avoidance, while the s9+ features significantly stronger suction power and more thorough corner and edge cleaning.
Ultimately, the j7+ is the best choice for pet owners who want a vacuum with above-average suction power that can avoid obstacles around the house, including pet waste. But if you want the most powerful robot vacuum to take care of nearly all the vacuuming in your home, look no further than the s9+.
Roomba j7+ vs. Roomba s9+ specs
The specs for the j7+ and s9+ are similar. However, some key difference between the two can affect their performance on hardwood and carpeting and in corners.
Roomba j7+ specs
Testing team checks the effectiveness of the Roomba j7+ as it navigates around furniture.
Product specifications
Battery life: 97 minutes | Dimensions: 13.3” L x 13.3” W x 3.4” H | Dustbin capacity: 0.4 L | Weight: 7.49 lb | Mapping: Yes | Self-emptying: Yes | Voice commands: Alexa, Google Assistant and Siri | Scheduling: Yes
The j7+ is a full inch wider than the s9+ and other Roomba models, but its profile is a tiny bit lower, which may allow it to fit beneath more furniture. With a battery that lasted nearly 100 minutes in our testing, it falls right in the middle of the pack with other robot vacuums. And while its dustbin is 100 milliliters smaller than the s9+’s, it is self-emptying, which means you don’t have to worry about it stopping in the middle of cleaning. If its bin is full, the j7+ automatically returns to its base to empty itself.
Like the s9+ and other advanced robot vacuums, the j7+ uses smart mapping and camera-based navigation to learn your home. It can identify specific rooms and zones, so you can send the robot to clean a certain area. It can even learn objects in your home and clean around furniture. It also supports Keep-Out Zones if there are areas in your home where you don’t want the robot to clean.
Released two years after the s9+, which came out in 2019, the j7+ is compatible with home assistants like Alexa and Siri, so you can use voice commands to control its cleaning. That makes it easy to clean messes as they happen because you can ask the j7+ to clean under your kitchen table when the kids get crumbs on the floor or vacuum the living room where your pets have been playing. Additionally, you can schedule regular vacuuming with the iRobot Home app. You can choose the day and time the j7+ vacuums and customize its cleaning preferences to ensure your floors are as pristine as possible.
Roomba s9+ specs
The testing team determines the battery life of the Roomba s9+.
Product specifications
Battery life: 107 minutes | Dimensions: 12.25” L x 12.25” W x 3.5” H | Dustbin capacity: 0.5 L | Weight: 8.15 lb | Mapping: Yes | Self-emptying: Yes | Voice commands: Alexa, Google Assistant and Siri | Scheduling: Yes
What stands out immediately about the s9+ is its unique D-shape design, which allows it to reach into corners far better than the average circular robot vacuum. Among the heavier options at 8.15 pounds, it has a medium-sized dustbin, but it’s self-emptying like the j7+, so it won’t stop in the middle of cleaning when it’s full. It also has a fairly long battery life, running for over 100 minutes on a single charge during our testing. If you want to empty the bin manually, it releases from the robot’s top and comes out easily. The bin itself opens from the bottom, too, so all of the debris inside falls out without any shaking.
Like the j7+, the s9+ creates smart maps of your home to learn rooms, zones and objects. That allows you to vacuum specific rooms or around certain furniture. For example, you can send the robot out to clean in front of the kitchen counter. It also allows you to create Keep-Out Zones to prevent the s9+ from cleaning in a certain area, such as where you keep your pet’s bowls.
You can use voice commands to control the s9+ via a home assistant, such as Alexa or Google Assistant. For more regular cleaning, you can use the iRobot Home app to create a cleaning schedule. Each scheduled cleaning session lets you select a day and time, as well as cleaning preferences, like the number of passes and suction power.
Suction comparison
The Roomba j7+ and s9+ are both advanced models, offering strong suction. However, the s9+ stands out for its superior power. While the j7+ has 10 times the suction power as the Roomba 600 series, the s9+ provides 40 times the suction for truly impressive performance on all types of flooring.
This top-notch suction power comes at a price, though — the s9+ is noticeably noisier than other robot vacuums, including the j7+. The j7+ tops out at about 64 decibels, while the s9+ can hit more than 74 decibels at maximum power.
Carpet comparison
Both the Roomba j7+ and s9+ performed well on carpeting. In fact, they were two of the top-performing models among those we tested. However, the s9+ did have the edge, offering suction power that came as close to a standard vacuum cleaner as any of the Roombas we tested.
On medium-pile carpet, the s9+ removed coarse kosher salt, cereal and kitty litter without leaving noticeable debris behind. When it missed a few particles of salt and kitty litter, it captured the remaining debris on its second pass. It pulled pet hair from the carpet without a single strand left behind, too. On low-pile area rugs and runners, we also found that it picked up all the debris in its path on these surfaces without any particles left behind.
During testing, the j7+ successfully handled most debris on medium-pile carpeting, but it wasn’t as impressive as the s9+. It missed several particles of kosher salt and crushed a piece of cereal into the carpet. However, it removed nearly all the remaining cereal crumbs when it did a second pass. It captured nearly all the kitty litter we placed in its path except a single piece and cleaned 100% of the pet hair in a single pass. Like the s9+, the j7+ handled debris on low-pile area rugs and runners with even greater success, so we didn’t observe any debris when it was done cleaning.
Hardwood comparison
The Roomba j7+ and s9+ offered even better suction on hardwood during testing. However, they both occasionally encountered the same problem that many robot vacuums do on hard flooring: Because the surface is usually smooth and slick, it’s easy for the robot to blow some particles of larger debris out of its path. Both the j7+ and s9+ did this in some cases, but the s9+ did it less frequently because of its superior suction power.
Both models cleaned pet hair from hardwood without any issues. The s9+ removed all the coarse kosher salt we placed in its path except for a granule or two, while the j7+ left behind just a few particles. Both successfully captured cereal on hardwood, though they did blow a couple of pieces out of their path. The s9+ picked up these pieces from the edge of the room, while the j7+ didn’t. We also found that both had success removing kitty litter from hardwood, but it took more than one pass to capture all of the particles.
Navigation comparison
The j7+ and s9+ both use a camera to aid their navigation. However, the j7+ has a front-facing camera, while the s9+ has a top-mounted camera. The j7+’s navigation sensor is also located at the front of the robot. Why does this matter? The placement of the cameras and sensors plays a significant role in how well they can navigate a space.
In particular, the front-facing camera and sensor mean the j7+ has obstacle avoidance, allowing it to move around objects without running over or bumping into them. In fact, iRobot is so confident in the j7’s ability to avoid obstacles that it’s backed by P.O.O.P., or the Pet Owner Official Promise, which affirms that you can count on the j7+ to avoid pet accidents and waste, or iRobot will replace your robot for free.
During our testing, the j7+ did an excellent job avoiding items in its path. We placed a handbag, a shoe and a stuffed pet toy in its way, and in all three cases, the robot seemed to sense the object and swerve around it.
On the other hand, the s9+ wasn’t as adept at avoiding items. It ran right over a book we placed in its path and bumped into a stuffed pet toy before moving around it. When we set a shoe in its path, it first tried to travel over it but then stopped and backed up to move around it.
When we stood in front of each robot, their reactions were also different. The j7+ pivoted away before touching us, while the s9+ lightly tapped our foot before moving away.
The advanced obstacle avoidance not only makes the j7+ an ideal model for a home with pets but also an excellent fit for a cluttered home. If you have children who leave toys scattered around, it can clean around the items without getting stuck. You might have less luck with the s9+.
Features comparison
Both the j7+ and s9+ have rubber brush rolls designed to loosen dirt and deal with hair more successfully than traditional bristle brushes. These rubber brushes are flexible, making them less likely to get tangled with hair. However, the s9+ features slightly wider brushes, which allow it to clean more efficiently than the j7+. During our testing, we were impressed by how quickly it worked — it cleaned 240 square feet in just 37 minutes. On the other hand, the j7+ needed 55 minutes to clean 260 square feet.
While the j7+ features the classic round shape that most robot vacuums have, the s9+ has a D-shaped frame — and this makes a big difference. Our testing found that the s9+’s flat edge allowed it to clean more thoroughly along walls. We placed kosher salt in corners with carpeting and hardwood, and it removed nearly all of the particles in a single pass on both surfaces. On the other hand, when we tested the j7+ in a carpeted corner, it only removed about three-quarters of the salt, leaving a noticeable line behind. It removed most of the salt on hardwood but blew several pieces away from the corner without picking them up.
Both the j7+ and s9+ come with a Clean Base that allows for self-emptying. However, the bases aren’t the same size. While they are roughly the same width, the s9+’s base is 19 inches tall, just over 3 inches taller than the j7+’s 15.8-inch tall base. We didn’t have trouble finding a spot for the s9+ in our testing area, but the j7+ can likely squeeze into more locations. Both bases can hold up to 60 days’ worth of dirt, and the j7+ even has a space in the top to hold an extra dirt-disposal bag.
If you don’t necessarily need a self-emptying robot, you can opt for non-emptying models of j7+ and s9+ that cost considerably less. The j7 and s9 are the same vacuums as the Plus models but don’t come with a Clean Base.
Cleaning and maintenance
The j7+ and s9+ require similar cleaning and maintenance to keep them running at peak performance. Even though the models are self-emptying, it’s a good idea to manually empty the dustbin once every week or so to remove any debris that the Clean Base didn’t remove. You can also rinse the bin with warm water, but let it dry thoroughly before returning it to the robot.
You also need to empty the Clean Base when you get a notification from the iRobot app that its bag is full. The bags are disposable, so you can toss a full one in the trash and replace it.
The area that requires the most care for these models is the brush roll since hair and other debris can accumulate around them. You can easily pop out the brushes by pressing the tab on the robot’s underside. When we cleaned these vacuums during testing, we found we could remove hair and other debris with just our fingers. You can also wipe the brush rollers down with a clean, dry cloth if you notice visible dirt.
The high-efficiency filter, edge-sweeping brush and brush rollers for the j7+ and s9+ also require periodic replacement. It’s simple to check their status in the iRobot app under the Product Health tab. There, you can see how many hours until the components require replacement.
Price
The Roomba j7+ regularly costs $799.99. It’s available on Amazon. The Roomba s9+ typically retails for $999.99. You can also find it on Amazon.
How we tested
To see just how well the Roomba j7+ and s9+ perform in real-world conditions, we not only sent them out to do regular cleaning but also put them through specific tests.
First, we measured stats like battery life, charging time, how long they could clean until their dustbins were full and how long they took to clean a given area. Next, we placed different types of debris, including kosher salt, kitty litter, cereal and pet hair, on both carpeting and hardwood and evaluated how well they handled the mess. We also tested how well each model cleaned in corners and around furniture.
Finally, we examined how well the iRobot app works with each model for scheduling, mapping and Keep-Out Zones and used voice commands to see how responsive both were.
Bottom line
It’s hard to go wrong with either the Roomba j7+ or the s9+ because they’re both advanced models that work well on carpeting and hard floors and offer many convenient features. But if you want the most powerful model that can eliminate the need for a standard vacuum, the s9+ gets the edge. It can handle all types of debris, including pet hair, on both carpeting and hard flooring, and its unique D-shape allows it to get into corners without leaving a mess behind.
However, if you have pets, you’ll prefer the j7+. It handles pet hair well, even on carpeting, and also avoids obstacles, so it won’t run into your pet’s waste and track it all over the house. The obstacle avoidance feature also makes it a good fit for cluttered homes.
Want to shop the best products at the best prices? Check out Daily Deals from BestReviews.
Sign up here to receive the BestReviews weekly newsletter for useful advice on new products and noteworthy deals.
Jennifer Blair writes for BestReviews. BestReviews has helped millions of consumers simplify their purchasing decisions, saving them time and money.
Copyright 2023 BestReviews, a Nexstar company. All rights reserved.
|
https://fox59.com/reviews/br/home-br/vacuums-br/roomba-j7-vs-s9-which-is-best-for-you/
| 2023-07-31T20:46:55
| 1
|
https://fox59.com/reviews/br/home-br/vacuums-br/roomba-j7-vs-s9-which-is-best-for-you/
|
Houlton Walmart adds “sensory-friendly” shopping hours
PRESQUE ISLE, Maine (WAGM) - The Houlton Walmart announced the temporary addition of ‘sensory-friendly’ shopping hours, which aim to provide a “calmer shopping environment”.
Some of the accommodations to create this environment include reducing the lighting, lowering the volume of music, and employees working more quietly and being more readily available to assist shoppers.
Maureen Foss, from Innovation Behavior Services, stated that this accommodation is important to creating an inclusive atmosphere. She stated that making shopping accessible is critical to allowing individuals to shop independently and freely. Foss stated, “It allows individuals to make choices based on their preferences and the availability of products instead of having others choose for them or avoiding making choices due to the need to escape an aversive environment. It leads to increased interactions with others, an increase in social opportunities, assists in the ability to establish and maintain supportive relationships, supports community integration (as opposed to isolation), and decreases dependence on others for care and support.“
Foss expressed that accessibility is critical to an independent shopping experience. She said, “The one thing we all want is to have some control over our lives. Increased accessibility makes this possible for many individuals identified with a disability.”
Additionally, Dr. Chris Barthold from Innovation Behavior Services commented on the importance of sensory friendly shopping. Dr. Barthold emphasized the significance this kind of shopping environment may have not just on individuals, but on their friends and family, too. Dr. Barthold said, “While we can work with individuals to help them better tolerate environments where they might be uncomfortable, a lot of families decline because it’s hard to deal with the public’s reaction. Therefore, a less crowded, less stimulating environment might be helpful not only to the individual but also those around them. They will be surrounded by people who “get it” and this might bring some comfort to them.”
Dr. Barthold continued that it is important that these kinds of accommodations do not isolate neurodivergent individuals, stating, “Sensory friendly shopping times are a good start, but must be coupled with education for the public about neurodiversity and promoting acceptance any time of the day.”
The hours will run every Saturday from 8-10am from the end of July to the beginning of September.
Copyright 2023 WAGM. All rights reserved.
|
https://www.wagmtv.com/2023/07/31/houlton-walmart-adds-sensory-friendly-shopping-hours/
| 2023-07-31T20:46:55
| 0
|
https://www.wagmtv.com/2023/07/31/houlton-walmart-adds-sensory-friendly-shopping-hours/
|
Biden has decided to keep Space Command in Colorado, rejecting move to Alabama, officials tell AP
WASHINGTON (AP) — President Joe Biden has decided to keep U.S. Space Command headquarters in Colorado, overturning a last-ditch decision by the Trump administration to move it to Alabama and ending months of politically fueled debate, according to senior U.S. officials.
The officials said Biden was convinced by the head of Space Command, Gen. James Dickinson, who argued that moving his headquarters now would jeopardize military readiness. Dickinson’s view, however, was in contrast to Air Force leadership, who studied the issue at length and determined that relocating to Huntsville, Alabama, was the right move.
The officials spoke on condition of anonymity to discuss the decision ahead of the announcement.
The president, they said, believes that keeping the command in Colorado Springs would avoid a disruption in readiness that the move would cause, particularly as the U.S. races to compete with China in space. And they said Biden firmly believes that maintaining stability will help the military be better able to respond in space over the next decade. Those factors, they said, outweighed what the president believed would be any minor benefits of moving to Alabama.
Biden’s decision is sure to enrage Alabama lawmakers and fuel accusations that abortion politics played a role in the choice. The location debate has become entangled in the ongoing battle between Alabama Republican Sen. Tommy Tuberville and the Defense Department over the move to provide travel for troops seeking reproductive health care. Tuberville opposed the policy is blocking hundreds of military promotions in protest.
The U.S. officials said the abortion issue had no effect at all on Biden’s decision. And they said the president fully expected there would be different views on the matter within the Defense Department.
Formally created in August 2019, the command was temporarily based in Colorado, and Air Force and Space Force leaders initially recommended it stay there. In the final days of his presidency Donald Trump decided it should be based in Huntsville.
The change triggered a number of reviews.
Proponents of keeping the command in Colorado have argued that moving it to Huntsville and creating a new headquarters would set back its progress at a time it needs to move quickly to be positioned to match China’s military space rise. And Colorado Springs is also home to the Air Force Academy, which now graduates Space Force guardians, and more than 24 military space missions, including three Space Force bases.
Officials also argued that any new headquarters in Alabama would not be completed until sometime after 2030, forcing a lengthy transition.
Huntsville, however, scored higher than Colorado Springs in a Government Accountability Office assessment of potential locations and has long been a home to some of earliest missiles used in the nation’s space programs, including the Saturn V rocket. It is home to the Army’s Space and Missile Defense Command.
According to officials, Air Force Secretary Frank Kendall, who ordered his own review of the matter, leaned toward Huntsville, while Dickinson was staunchly in favor of staying put. The officials said Defense Secretary Lloyd Austin presented both options to Biden.
The decision was good news for Colorado lawmakers.
“For two and a half years we’ve known any objective analysis of this basing decision would reach the same conclusion we did, that Peterson Space Force Base is the best home for Space Command,” Sen. John Hickenlooper, D-Colo., said in a statement. “Most importantly, this decision firmly rejects the idea that politics — instead of national security — should determine basing decisions central to our national security.”
Sen. Michael Bennet, D-Colo., said the decision “restores integrity to the Pentagon’s basing process and sends a strong message that national security and the readiness of our Armed Forces drive our military decisions.”
Copyright 2023 The Associated Press. All rights reserved.
|
https://www.wibw.com/2023/07/31/biden-has-decided-keep-space-command-colorado-rejecting-move-alabama-officials-tell-ap/
| 2023-07-31T20:46:55
| 0
|
https://www.wibw.com/2023/07/31/biden-has-decided-keep-space-command-colorado-rejecting-move-alabama-officials-tell-ap/
|
Buttigieg touts progress in goal for half of new car sales to be electric vehicles
WASHINGTON (Gray DC) - Following an announcement of private investment plan for 30,000 new electric vehicle chargers across the United States, Transportation Secretary Pete Buttigieg said government investment has paved the way private companies to produce more electric cars.
“Federal investment to try and make up the difference where markets are still getting ready, and then the private sector, private industry, needs to do the rest,” Buttigieg said.
Leading global electric vehicle manufacturers, including Ford, General Motors and BMW have joined together to build 30,000 electric vehicle chargers across the country.
“When you fill up your gas car with gas you’re counting on private companies to set up for that,” Buttigieg said. “We really need private industry to play more of a roll in investing in and running these electric vehicle charging stations.”
The government has set aside $7.5 billion for states to create their own networks of EV chargers, but the Biden administration wants to guarantee things like price transparency, and guaranteeing a charger from one company works for another company’s vehicles.
“They are going to meet standards that we have set, and they’ll have to in order to qualify for federal support.”
Buttigieg said if the U.S. does not take the lead on electric vehicles, someone else will.
“There is a race, whether people realize it or not,” Buttigieg said. “Where in the middle of a heated race to win the future of electric vehicles.”
The federal money for EV charging networks comes from the Bipartisan Infrastructure Law passed in 2021.
Copyright 2023 Gray DC. All rights reserved.
|
https://www.wibw.com/2023/07/31/buttigieg-touts-progress-goal-half-new-car-sales-be-electric-vehicles/
| 2023-07-31T20:46:56
| 0
|
https://www.wibw.com/2023/07/31/buttigieg-touts-progress-goal-half-new-car-sales-be-electric-vehicles/
|
Doctors concerned brain-eating amoeba infection could increase due to warmer water temperatures
PHOENIX (KPHO/Gray News) -- Some scientists predict brain-eating amoeba cases could grow since we’ve had record heat and water temperatures are increasing.
The amoeba, naegleria fowleri, can enter the body through the nose and travel to the brain, resulting in an infection. While cases are limited over the years, there have been multiple in Arizona at Lake Pleasant and Lake Mead.
Most recently in Nevada, a child died because of the disease.
Brain-eating amoeba is a microscopic parasite found in warm, fresh bodies of water like hot springs or lakes. You can’t get it by accidentally swallowing the water or through a cut. The only way to get infected is by getting it far up your nose by diving or cannonballing into a lake.
Although infection is rare, the disease has a 97% fatality rate since symptoms are common at first. The disease is usually only diagnosed when it’s in the late-stage and symptoms progress to more severe illness like hallucinations and seizures. By that point, it’s usually too late to treat the disease effectively.
There are only about 10 cases per year, but experts say because the amoebas live in warm, fresh bodies of water, they expect to see that number increase with rising temperatures.
Dr. Wassim Ballan, an infectious disease specialist at Phoenix Children’s Hospital, said there are concerns about cases rising, as well as a number of other infectious diseases.
“We are probably going to see a change in trends because of the climate changing and the temperatures rising,” Ballan said. “So there is a lot of concern in the infectious disease community about a lot of different infections, including amoebic infections becoming more common as the climate is warming.”
He also said parents who notice their child feeling unwell after a day of swimming should get them checked out right away. Early symptoms usually start five days after infection. They include sudden fever, headache, and stiff neck. Because the amoebas can only be deadly by entering through the nose, doctors recommend you not jump or dive into the water and instead hold your nose or wear nose clips. Or better yet, keep your head above water.
Digging in shallow water is also not advised since it stirs up the sediment where the amoeba live. It’s important to note there haven’t been any recent cases at Saguaro Lake. Since they started tracking the disease in 1962, there have been only 160 reported cases, so it’s infrequent. Still, Ballan said it isn’t worth the risk when prevention is so easy.
For more information on the naegleria fowleri, visit the Centers for Disease Control and Prevention’s website.
Copyright 2023 KPHO/KTVK via Gray Media Group, Inc. All rights reserved.
|
https://www.wibw.com/2023/07/31/doctors-concerned-brain-eating-amoeba-infection-could-increase-due-warmer-water-temperatures/
| 2023-07-31T20:46:57
| 1
|
https://www.wibw.com/2023/07/31/doctors-concerned-brain-eating-amoeba-infection-could-increase-due-warmer-water-temperatures/
|
‘I’ll be able to walk again’: 6-year-old shot in road rage incident confident about her future
LOUISVILLE, Ky. (WAVE/Gray News) – A 6-year-old’s life may be changed forever after she was shot in the back during a road rage incident on July 10, but that’s not crushing the young girl’s spirit.
Onyx, 6, was in the car with her family when a road rage incident with a group of motorcyclists in Kentucky led to a shooting.
A bullet went through the girl’s back and she had to have emergency surgery.
Onyx has been recovering since and may never walk again. Being in a wheelchair is her new reality.
“I really liked going through the hallways to test it out,” Onyx said, talking about her wheelchair. “I wanted to do it again and then I did.”
The 6-year-old who just wants to dance and play is finding comfort in doing donuts in her wheelchair.
Onyx said she remembers leaving the park on July 10, getting in the car and the moment when she was shot.
“I remember getting carried into the hospital,” she recalled.
Those chain of events left Onyx’s mother, Chyna Sands, with the task of telling her daughter her new reality.
Sands said she told Onyx the bullet severed her back and she can’t use her legs like she used to – a conversation that is still setting in for the young girl.
She’s had to explain to Onyx that she must be in a wheelchair because she can’t walk.
But Onyx didn’t let this get her down too much. She said she is tired of people saying what she can’t do. To her, she has no doubt about what the future holds.
“I’ll be able to walk again, I know I will,” Onyx said with confidence. “I believe that I will be able to walk again.”
That mindset is what Sands says keeps her going.
As of right now, no one has been charged for the shooting which keeps Sands on edge.
“They want me to be patient, but I am out of patience,” Sands said. “I would like to see justice for an innocent 6-year-old who was minding her own business.”
While those responsible are out free, small things like getting into a car are now triggers of trauma.
“Because I got shot in the back, and I’m a little bit scared to get in the car because it brings back the memories,” Onyx said.
Hearing Onyx say that is a hard pill to swallow for a mother that loves to travel everywhere with her daughter.
“As her mom, I’m used to being her superhero,” Sands said. “I fix all of her problems and that’s something that I can’t fix.”
Copyright 2023 WAVE via Gray Media Group, Inc. All rights reserved.
|
https://www.wibw.com/2023/07/31/ill-be-able-walk-again-6-year-old-shot-road-rage-incident-confident-about-her-future/
| 2023-07-31T20:46:57
| 1
|
https://www.wibw.com/2023/07/31/ill-be-able-walk-again-6-year-old-shot-road-rage-incident-confident-about-her-future/
|
BEIRUT (AP) — Lebanon’s embattled central bank governor stepped down on Monday under a cloud of investigation and blame for his country’s economic crisis as several European countries are probing his alleged financial crimes.
Riad Salameh, 73, ended his 30-year tenure as tearful employees took photos and a band played celebratory music with drums and trumpets as he left the building.
His four vice governors, led by incoming interim governor Wassim Mansouri, quickly pivoted to urge fiscal reforms for the cash-strapped country.
“We are at a crossroads,” Mansouri said at a news conference. “There is no choice, if we continue previous policy … the funds in the Central Bank will eventually dry up.”
Salameh kicked off his tenure as governor in 1993, three years after Lebanon’s 15-year civil war came to an end. It was a time when reconstruction loans and aid was pouring into the country, and Salameh was widely celebrated for his role in Lebanon’s recovery.
Now, he leaves his post a wanted man in Europe, accused by many in Lebanon of being responsible for the country’s financial downfall since late 2019.
It was a steep fall for a leader whose policies were once hailed for keeping the currency stable. Later, many financial experts saw him as setting up a house of cards that crumbled as the country’s supply of dollars dried up on top of decades of rampant and corruption and mismanagement from Lebanon’s ruling parties.
The crisis has pulverized the Lebanese pound and wiped out the savings of many Lebanese, as the banks ran dry of hard currency.
With the country’s banks crippled and public sector in ruins, Lebanon for years has run on a cash-based economy and relied primarily on tourism and remittances from millions in the diaspora.
Mansouri said previous policies that permitted the central bank to spend large sums on money to prop up the Lebanese state is no longer feasible. He cited years of spending billions of dollars to subsidize fuel, medicine, wheat and more to keep the value of the Lebanese pound stable.
He proposed a six-month reform plan that included passing long awaited reforms such as capital controls, a bank restructuring law, and the 2023 state budget.
“The country cannot continue without passing these laws,” Mansouri explained. “We don’t have time, and we paid a heavy price that we cannot pay anymore.”
The reforms Mansouri mentioned are among those the International Monetary Fund set as conditions on Lebanon in April 2022 for a bailout plan, though he did not mention the IMF. None have been passed.
France, Germany, and Luxembourg are investigating Salameh and his associates over myriad financial crimes, including illicit enrichment and the laundering of $330 million. Paris and Berlin issued Interpol notices to the central bank chief in May, though Lebanon does not hand over its citizens to foreign countries.
Salameh has repeatedly denied the allegations and insisted that his wealth comes from his previous job as an investment banker at Merrill Lynch, inherited properties, and investments. He has criticized the probe and said it was part of a media and political campaign to scapegoat him.
In his final interview as governor, Salameh said on Lebanese television that the responsibility for reforms lies with the government.
“Everything I did for the past 30 years was to try to serve Lebanon and the Lebanese,” he said. “Some — the majority —- were grateful, even if they don’t want to say so. And there are other people, well, may God forgive them.”
Salameh’s departure adds another gap in crisis-hit Lebanon’s withering and paralyzed institutions. The tiny Mediterranean country has been without a president for nine months, while its government has been running in a limited caretaker capacity for a year. Lebanon has also been without a top spy chief to head its General Security Directorate since March.
Lebanese officials in recent months were divided over whether Salameh should stay in his post or whether he should step down immediately in the remaining months of his tenure.
Caretaker Economy Minister Amin Salam wanted an immediate stepdown, given that the central bank chief had a “legal question mark.”
“I cannot explain anyone holding on to a person while a nation is failing unless there is something wrong or hidden,” Salam told The Associated Press.
|
https://www.yourbasin.com/news/international/ap-lebanons-central-bank-governor-ends-30-year-tenure-under-investigation-during-dire-economic-crisis/
| 2023-07-31T20:46:59
| 0
|
https://www.yourbasin.com/news/international/ap-lebanons-central-bank-governor-ends-30-year-tenure-under-investigation-during-dire-economic-crisis/
|
RYE BROOK, N.Y., July 31, 2023 /PRNewswire/ -- Belle Haven Investments is proud to be Certified™ by Great Place To Work® for the second year in a row. The prestigious award is based entirely on what current employees say about their experience working at Belle Haven Investments. This year, 93% of employees said it's a great place To Work – 36 points higher than the average U.S. company.
Great Place To Work® is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation.
"Great Place To Work Certification is a highly coveted achievement that requires consistent and intentional dedication to the overall employee experience," says Sarah Lewis-Kulin, the Vice President of Global Recognition at Great Place To Work. She emphasizes that Certification is the sole official recognition earned by the real-time feedback of employees regarding their company culture. "By successfully earning this recognition, it is evident that Belle Haven Investments stands out as one of the top companies to work for, providing a great workplace environment for its employees."
Matt Dalton, CEO & CIO, expressed his excitement emphasizing "We owe the Firm's continued success to our dedicated and awesome employees. We celebrate and thank them for all they do to earn this incredible recognition."
About Belle Haven Investments
Belle Haven Investments is an independent, employee-owned asset manager that focuses exclusively on fixed income. They prioritize service, reliability, and customization, nurturing long-term partnerships with their clients. Their core values - trust and communication - permeate both external client relationships and internal team dynamics. The autonomy given to employees fosters trust, driving them to deliver their best work daily. To learn more, visit: https://www.bellehaven.com/
About Great Place to Work Certification™
Great Place To Work® Certification™ is the most definitive "employer-of-choice" recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place to Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place To Work-Certified.
Contact:
Nicole Robbins
robbinsn@bellehaven.com
View original content to download multimedia:
SOURCE Belle Haven Investments
|
https://www.kxii.com/prnewswire/2023/07/31/belle-haven-investments-earns-2023-great-place-work-certification/
| 2023-07-31T20:47:01
| 0
|
https://www.kxii.com/prnewswire/2023/07/31/belle-haven-investments-earns-2023-great-place-work-certification/
|
PHILADELPHIA, July 31, 2023 /PRNewswire/ -- Livent Corporation (NYSE: LTHM) today published its 2022 Sustainability Report, with the theme Reimagining Possibilities. The report provides updates on the company's progress against its 2030 and 2040 sustainability goals, includes new disclosures and reaffirms Livent's commitment to responsible production and expansion.
Paul Graves, president and chief executive officer of Livent, commented: "We believe the lithium industry will play an increasingly important role in the clean energy transition towards a more sustainable, low-carbon future. Our 2022 Sustainability Report demonstrates how Livent is reimagining what's possible for producing more of the lithium the world needs while continuing to lead our industry forward in corporate social responsibility, environmental stewardship and transparency."
Report Highlights:
- Initial global Scope 3 screening of Livent's Greenhouse Gas (GHG) emissions and first disclosures on global air pollutants
- Completion of ISO-compliant Life Cycle Assessments (LCAs) for all of Livent's major lithium chemical products, ahead of the original 2025 target
- Achievement of Livent's 2030 Waste Disposed intensity reduction target, ahead of schedule
- Summary of recent water and biodiversity studies conducted at the Salar del Hombre Muerto in Argentina
- Updates on other key collaborations and initiatives to support a low-carbon future, minimize environmental impacts, expand local community engagement and development efforts, protect human rights, and build a more engaged, diverse and inclusive workforce
To view Livent's 2022 Sustainability Report, visit livent.com/sustainability. The report will be made available in multiple languages.
Key ESG metrics in the report were reviewed and assured by ERM Certification and Verification Services (ERM CVS).
About Livent
For nearly eight decades, Livent has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation, and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. The Company has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy, and specialized innovations, including light alloys and lubricants. Livent has a combined workforce of approximately 1,350 full-time, part-time, temporary, and contract employees and operates manufacturing sites in the United States, England, China and Argentina. For more information, visit Livent.com.
Livent Forward-Looking Statements
Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which are based on management's current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "will continue to," "will likely result," "is on track," "should," "expect," "expects," "intends," "plans," "anticipates," "believe," "believes," "estimates," "predicts," "potential," "continue," "could," "forecast," "future," "is confident that," or "projects," the negative of these terms and other comparable terminology. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement. These factors include, among other things, the risk factors and other cautionary statements included within Livent's 2022 Form 10-K filed with the SEC as well as other SEC filings and public communications. Livent cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are qualified in their entirety by the above cautionary statement. Livent undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law.
The Company's investor relations website, located at https://ir.livent.com, should be considered as a recognized channel of distribution, and the Company may periodically post important information to the website for investors, including information that the Company may wish to disclose publicly for purposes of complying with federal securities laws.
Media contact: Juan Carlos Cruz +1.215.299.6725
juan.carlos.cruz@livent.com
Investor contact: Daniel Rosen +1.215.299.6208
daniel.rosen@livent.com
View original content to download multimedia:
SOURCE Livent Corporation
|
https://www.wbtv.com/prnewswire/2023/07/31/livent-publishes-2022-sustainability-report/
| 2023-07-31T20:47:01
| 1
|
https://www.wbtv.com/prnewswire/2023/07/31/livent-publishes-2022-sustainability-report/
|
Written by Kevin Luna
The Testing Lab’s favorites from July
Our favorite tested products from July
As a consumer, before purchasing any product, it’s a good idea to research as much as you can about it. However, because brand and product claims can exaggerate performance and quality, the most reliable source for determining if a product is worth your time is to look up expert testing reviews.
The BestReviews Testing Lab consistently tests popular consumer products in an attempt to distinguish which ones are the best. For July, we tried many products, including robot vacuums, lawnmowers, golf clubs, hairstyling tools and smart speakers.
Shop this article: Roomba j7+ Self-Emptying Robot Vacuum, Cleveland Huntington Beach Soft 11 Putter and Apple HomePod.
What is the BestReviews Testing Lab?
The BestReviews Testing Lab aims to wade through all the marketing hype and see how well products perform in real-world situations. It consists of regular consumers searching for products that can enhance their lives. We consider items the same way shoppers do, focusing on factors like how easy they are to use, how effective they are and other features that distinguish them from similar products.
The testing lab is also committed to employing green testing practices and giving back to the community. As a result, we donate lightly used products from the testing process to organizations like Lighthouse Community Public Schools, an organization local to our main testing operation that educates students in grades K-12. We’ve recently contributed products like the Keurig K155 Office Pro Commerical Coffee Maker, a Kindle Paperwhite and the “National Geographic Pocket Guide to Reptiles and Amphibians of North America” to support students and educators.
In July, the testing lab evaluated a broad range of products, but two categories, in particular, were a big hit: robot vacuums and putters. We tested many of them to see which ones are best for beginners and experts, and we curated a list of the ones we recommend.
Best Testing Lab products from July
Roomba j7+ Self-Emptying Robot Vacuum
This robot vacuum was a big hit in our testing lab because of its powerful suction that works great on carpet and hard floors, as well as its intuitive smart mapping function that lets you choose which rooms to clean and when. It responds to Alexa voice commands and operates quietly.
Sold by iRobot
Roomba i3+ Evo Self-Emptying Robot Vacuum
We love this robot vacuum for its long-lasting battery life, quick setup and efficiency at picking up small debris, pet hair and dirt particles. It travels in a uniform row pattern while cleaning, works with voice assistants and mapping takes only a few minutes to set up.
Sold by iRobot
This is one of the cheaper iRobot units, but our testing team liked it well enough to recommend it for those who want a solid bargain pick. The three-stage cleaning process is excellent, and Dirt Detect technology allows it to locate the dirtiest spots in your home and prioritize them.
Sold by Walmart
Roomba Combo j7+ Robot Vacuum and Mop
This robot vacuum cleaner offers a mopping function in addition to vacuuming, making it suitable for those with mostly hard floors throughout their homes. The app automatically recognized the unit, making it quick to set up. It’s adept at picking up dirt, pet hair, crumbs and even cat litter.
Sold by iRobot
Our testing team was pleased with this robot vacuum’s suction power and performance on hard floors and carpets. It’s simple to pair with voice assistants such as Alexa, Google Assistant and Siri, and although it doesn’t come with a self-emptying bin, doing it manually is quick and easy.
Sold by iRobot
This was one of the more popular robot vacuums in the testing lab because of its high-powered cleaning cycle and easy-to-use app. It’s highly responsive to basic voice commands such as “Stop Cleaning” through Alexa or Google Assistant, and the automatic dirt disposal works efficiently to empty the reservoir.
Sold by Best Buy
Roomba s9+ Self-Emptying Robot Vacuum
As one of the most powerful robot vacuums, our expert testers recommend it for medium to large homes. It can clean 140 square feet in 37 minutes, and mapping is straightforward to set up. You can give it specific cleaning commands, and it does well at avoiding objects.
Sold by iRobot
The testing lab appreciates this robot vacuum’s breezy setup and the fact that it works at lifting pet hair and dirt particles nearly as effectively as some of the more expensive units. It doesn’t struggle with floor-to-carpet transitions and is a convenient alternative for anyone who struggles with manual vacuuming.
Sold by iRobot
According to our testing team, this robot vacuum runs for 70 minutes on a full charge, and getting it up to full power only takes 1 hour and 45 minutes. Cleaning an apartment of roughly 800 square feet takes approximately 70 minutes, and the iHome app is visually clean and logical to navigate.
Sold by Amazon
The testing lab found it seamless to customize a floor plan for this robot vacuum to follow, and one of the best features is that it shows which areas it was able to clean once it’s finished. You can schedule specific cleaning times and zones, and it can handle corners and hard-to-reach areas.
Sold by Amazon
Cleveland Huntington Beach Soft 11 Putter
The right putter can make a difference on your score sheet at the end of the day, and our testing team can’t recommend this one enough. The grip allows for improved control over the putter head, and the soft face has a prominent sweet spot for more forgiveness on long putts.
Sold by Scheels
Scotty Cameron 2023 Super Select Newport 2.5 Plus Putter
This putter has an outstanding grip with increased tackiness for more control over the club head, and the face is advanced engineered to line up perfectly with the ball for precise putting. The weight is distributed correctly for an improved feel, and it has a large sweet spot.
Sold by Scheels
Scotty Cameron 2022 Phantom X 5.5 Putter
According to our testing team, the best thing about this putter is its large sweet spot that makes even the most off-center hits easier to pull off. The weight and putter face are expertly crafted to let the club do most of the work, making it suitable for low-handicap and mid-handicap players.
Sold by Scheels
TaylorMade TP Hydro Blast Bandon 3 Putter
Although this putter isn’t as forgiving as some of the other fan favorites from July, it’s still a solid choice for novice and intermediate golfers thanks to its mid-size grip and straightforward design. Distance control is manageable thanks to the balanced weighting, and the ball rolls nicely off the face.
Sold by Scheels
The testing lab found this smart speaker among the best when considering sound quality, and as with all Apple products, if you already own others, this speaker integrates seamlessly with them. Spatial audio and room sensing provide a surround sound effect in any room, and you can stream music via Bluetooth or Wi-Fi.
The Fire Max 11 has everything you would expect from a high-quality tablet, including a crisp screen with a 2,000 by 1,200-pixel resolution, a powerful octa-core processor, Wi-Fi 6 support and a durable aluminum build. We love its versatility — it can handle gaming, web surfing and streaming.
Sold by Amazon
This hairstyling tool was a big hit in our testing lab because of its three rotating attachments designed to give you a specific look. The barrel has a button for spinning it on its own, making it more user-friendly than traditional curling irons, and the attachments are simple to pop and switch out.
Sold by Beachwaver
Kindle Scribe Essentials Bundle
The Kindle Scribe is a fantastic tool for avid readers who want something lightweight for reading on the go. The screen and brightness are optimized to make it possible to read under any lighting conditions, and setting up with an existing Amazon account takes less than a minute.
Sold by Amazon
Want to shop the best products at the best prices? Check out Daily Deals from BestReviews.
Sign up here to receive the BestReviews weekly newsletter for useful advice on new products and noteworthy deals.
Kevin Luna writes for BestReviews. BestReviews has helped millions of consumers simplify their purchasing decisions, saving them time and money.
Copyright 2023 BestReviews, a Nexstar company. All rights reserved.
|
https://fox59.com/reviews/br/home-br/vacuums-br/the-testing-labs-favorites-from-july/
| 2023-07-31T20:47:01
| 1
|
https://fox59.com/reviews/br/home-br/vacuums-br/the-testing-labs-favorites-from-july/
|
BANGKOK (AP) — Myanmar’s military-controlled government has extended the state of emergency it imposed when the army seized power from an elected government 2 1/2 years ago, state-run media said Monday, forcing a further delay in elections it promised when it took over.
MRTV television said the National Defense and Security Council met Monday in the capital, Naypyitaw, and extended the state of emergency for another six months starting Tuesday because time is needed to prepare for the elections. The NDSC is nominally a constitutional government body, but in practice is controlled by the military.
The announcement amounted to an admission that the army does not exercise enough control to stage the polls and has failed to subdue widespread opposition to military rule, which includes increasingly challenging armed resistance as well as nonviolent protests and civil disobedience, despite the army having a huge advantage in manpower and weapons.
The state of emergency was declared when troops arrested Aung San Suu Kyi and top officials from her government and members of her National League for Democracy party on Feb. 1, 2021. The takeover reversed years of progress toward democracy after five decades of military rule in Myanmar.
The military said it seized power because of fraud in the last general election held in November 2020, in which Suu Kyi’s party won a landslide victory while the military-backed Union Solidarity and Development party did poorly. Independent election observers said they did not find any major irregularities.
The army takeover was met with widespread peaceful protests that security forces suppressed with lethal force, triggering armed resistance that U.N. experts have described as a civil war.
As of Monday, 3,857 people have been killed by the security forces since the takeover, according to a tally kept by the independent Assistance Association for Political Prisoners.
The army-enacted 2008 constitution allows the military to rule the country under a state of emergency for one year, with two possible six-month extensions if preparations are not yet completed for new polls, meaning that the time limit expired on Jan. 31 this year.
However, the NDSC allowed the military government to extend emergency rule for another six months in February, saying the country remained in an abnormal situation. The announcement on Monday is the fourth extension.
The state of emergency allows the military to assume all government functions, giving the head of the ruling military council, Senior Gen. Min Aung Hlaing, legislative, judicial and executive powers.
Nay Phone Latt, a spokesperson for the National Unity Government, an underground group that calls itself the country’s legitimate government and serves as an opposition umbrella group, said the extension of emergency rule was expected because the military government hasn’t been able to annihilate the pro-democracy forces.
“The junta extended the state of emergency because the generals have a lust for power and don’t want to lose it. As for the revolutionary groups, we will continue to try to speed up our current revolutionary activities,” Nay Phone Latt said in a message Monday.
The military government labels the NUG and its armed wing, the People’s Defense Forces, as “terrorists.”
Monday’s report did not specify when the polls might be held, saying only that they would occur after the goals of the state of emergency are accomplished.
According to the constitution, the military must transfer government functions to the president, who heads the NDSC, six months before the polls. That would mean Acting President Myint Swe, a retired general.
The military originally announced that new polls would be held a year after its takeover and later said they would take place in August 2023. But the extension of the emergency in February made that timing impossible.
The MRTV report said Myint Swe told members of the NDSC that the government needs to do more to achieve stability and the rule of law to prepare for the election.
Critics say the polls will be neither free nor fair under the military-controlled government, which has shut independent media and arrested most of the leaders of Suu Kyi’s party.
Her party was dissolved along with 39 other parties by the election commission in March for failing to re-apply under a political party registration law enacted by the military government early this year. The law makes it difficult for opposition groups to mount a serious challenge to army-backed candidates.
Suu Kyi, 78, is serving prison sentences totaling 33 years after being convicted in a series of politically tainted cases brought mostly by the military government.
___
|
https://www.yourbasin.com/news/international/ap-myanmars-military-led-government-extends-state-of-emergency-forcing-delay-in-promised-election/
| 2023-07-31T20:47:05
| 1
|
https://www.yourbasin.com/news/international/ap-myanmars-military-led-government-extends-state-of-emergency-forcing-delay-in-promised-election/
|
Whether you’re a fan of Food Network or someone who loves to spend time in the kitchen, you know Le Creuset. The French-made cookware brand is known for many things, coming in a wide range of colors. It’s got thick, heavy, enamel-coated cast iron and a lifetime warranty that has turned Le Creuset pieces into heirlooms.
There’s only one thing that’s stopping most of us from having a whole kitchen full of this stuff: the price tag. But now for the good news. We’re in the final week of Nordstrom’s Anniversary Sale, so you still have a few more days to snag up to 45% off select Le Creuset pieces. And yes, that includes some of the iconic Dutch ovens.
Super-high quality … and prices to match (usually)
While the lifetime warranty means that a Le Creuset piece may very well be the last piece in its size and shape you ever need to buy, the prices also reflect that. A single Dutch oven will typically run you several hundred dollars.
However, people love them so much that the quality is worth the price. Celebrity chefs even belove Le Creuset pieces. Ina Garten, the Barefoot Contessa herself, once advised a fan who asked for a Le Creuset recommendation, “I use the Le Creuset #26 Dutch oven more often than everything else. It’s great for soups, stews and braising.” As further proof that you can’t beat the classics, Julia Child was also known to love her Le Creuset cookware.
5 Le Creuset deals you won’t want to miss at Nordstrom’s Anniversary Sale
Le Creuset 4.5-Quart Oval Dutch Oven
Let’s start with a classic. This medium-sized Dutch oven is perfect for a family and can handle most main dishes and sides easily. It’s designed to go from the stovetop to the oven, and its oval shape makes it adaptable for larger cuts of meat, like leg of lamb. You can find it at Nordstrom in seven classic colors.
Sold by Nordstrom
Le Creuset Signature 2.75-Quart Enamel Dutch Oven
This smaller Dutch oven is great for singles, couples or those who need a second vessel for their sides and casseroles. It’s also great for baking and comes in eight colors to suit your kitchen’s aesthetic.
Sold by Nordstrom
Le Creuset 9-Inch Enamel Cast Iron Skillet
This versatile skillet can sear, saute and fry — and it can go from the stove to an oven up to 500 degrees. It comes pre-seasoned and is dishwasher-safe, making it a perfect choice for busy families who need a versatile staple to add to their kitchen.
Sold by Nordstrom
Le Creuset Signature 1.75-Quart Enameled Cast Iron Saucepan
This smaller pot is perfect for poaching eggs and fruit, making sauces and more. Its rounded base and curved interior make it easy to stir whatever’s inside and ensure nothing sticks — making cleanup a breeze.
Sold by Nordstrom
Le Creuset Heritage Rectangle Baking Dishes, Set of Three
For the baker in your family, this set of rectangle dishes — in 7.5, 10 and 12.5 inches — can accommodate any casserole, quiche or baked good. They can be used safely under the broiler or in the microwave, and you can even put them in the freezer.
Sold by Nordstrom
Want to shop the best products at the best prices? Check out Daily Deals from BestReviews.
Sign up here to receive the BestReviews weekly newsletter for useful advice on new products and noteworthy deals.
Christina Marfice writes for BestReviews. BestReviews has helped millions of consumers simplify their purchasing decisions, saving them time and money.
Copyright 2023 BestReviews, a Nexstar company. All rights reserved.
|
https://fox59.com/reviews/br/kitchen-br/cookware-br/nordstrom-is-practically-giving-le-creuset-cookware-away-during-its-anniversary-sale/
| 2023-07-31T20:47:08
| 1
|
https://fox59.com/reviews/br/kitchen-br/cookware-br/nordstrom-is-practically-giving-le-creuset-cookware-away-during-its-anniversary-sale/
|
Jackpocket Crowns its First $100K Winner in Massachusetts, Partnership With Circle K Offers a New, Convenient Way to Play the Lottery
BOSTON, July 31, 2023 /PRNewswire/ -- Jackpocket, America's #1 lottery app*, launched in Massachusetts in partnership with Circle K, one of the largest convenience store brands in the United States.
Yesterday, a Jackpocket customer ordered a $100,000 winning lottery ticket for the daily "Mass Cash" drawing using the app.
"We are excited that our partnership with Circle K landed our first $100K winner in the Bay State, cementing Jackpocket's presence in Massachusetts," said Peter Sullivan, CEO of Jackpocket. "Jackpocket's mission is to make the lottery more accessible and convenient to play. As Tuesday's Mega Millions crosses the $1 billion mark, it's easier than ever to play your favorite games from anywhere in Massachusetts."
To celebrate the new partnership, Jackpocket is offering lottery fans across the state their first lottery ticket for free on the app. New players will receive a $2 lottery ticket by entering the code HEYMASS at checkout. Lottery fans can play Powerball and Mega Millions—currently over $1.05B—as well as local favorites MassCash (the game responsible for the $100K winning ticket), Megabucks Doubler, Lucky for Life, and The Numbers Game.
"We're proud to partner with Jackpocket in Massachusetts and make this fun and convenient experience available to every lottery player across the state," said Melissa Lessard, the head of North American marketing at Circle K. "At Circle K, we are always looking for ways to make life a little easier for our customers and providing the opportunity for customers to order official state lottery tickets with just the tap of a button through the Jackpocket app is yet another example of that commitment."
Massachusetts is now the 17th state available for lottery play on the Jackpocket app. Jackpocket is iCAP certified for best practices in player protection, backed by the expertise of the National Council on Problem Gambling. To ensure player safety, Jackpocket offers consumer protections such as daily deposit and spend limits, self-exclusion, and in-app access to responsible gambling resources.
*According to data from AppFollow
*Must be 18 or older to play. Jackpocket is not affiliated with and is not an agent of the Massachusetts State Lottery. Please visit jackpocket.com/tos for full terms of service. Gambling Problem? Call 1-800-327-5050.
Are You Our Next BIG Winner? Visit play.jackpocket.com or download Jackpocket for iOS and Android and get in the game. New players can receive a $2 lottery ticket by entering the code HEYMASS at checkout.
About Jackpocket
Jackpocket is on a mission to create a more convenient, fun, and responsible way to take part in the lottery. The first licensed third-party lottery courier app in the United States, Jackpocket provides an easy, secure way to order official state lottery tickets. Jackpocket is currently available in Arizona, Arkansas, Colorado, Idaho, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New York, Ohio, Oregon, Texas, Washington D.C., and West Virginia, and is expanding to many new markets. Download the app on iOS and Android or participate via desktop. Follow along on Facebook, Twitter and Instagram.
About Circle K and Alimentation Couche-Tard Inc.
Couche-Tard is a global leader in convenience and mobility, operating in 25 countries and territories, with more than 14,400 stores, of which approximately 11,000 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States and it is a leader in the convenience store industry and road transportation fuel retail in Canada, Scandinavia, the Baltics, as well as in Ireland. It also has an important presence in Poland and Hong Kong Special Administrative Region of the People's Republic of China. Approximately 128,000 people are employed throughout its network.
View original content to download multimedia:
SOURCE Jackpocket
|
https://www.wbtv.com/prnewswire/2023/07/31/massachusetts-lottery-fans-can-now-play-record-105b-mega-millions-their-phone/
| 2023-07-31T20:47:07
| 1
|
https://www.wbtv.com/prnewswire/2023/07/31/massachusetts-lottery-fans-can-now-play-record-105b-mega-millions-their-phone/
|
- VOXZOGO® Growth Continued in the Second Quarter Driven by Global Demand Resulting in Increased Full Year 2023 Guidance
- Pivotal Program with VOXZOGO in New, Potential Second Indication, Hypochondroplasia, to Begin in the Fourth Quarter of 2023
- U.S. Approval of ROCTAVIAN™ Received in the Second Quarter and Commercial Launch Underway; Commercial Launch in Europe Making Progress
SAN RAFAEL, Calif., July 31, 2023 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) today announced financial results for the six months and second quarter ended June 30, 2023.
"Outstanding execution across our business led to record revenues in the first half of 2023. We reached more children with VOXZOGO around the world, as physicians and families sought treatment with the only approved medicine targeting the genetic cause of achondroplasia," said Jean-Jacques Bienaimé, Chairman and Chief Executive Officer of BioMarin. "We were also very pleased to have received the highly anticipated U.S. approval of ROCTAVIAN, the only gene therapy treatment for severe hemophilia A. U.S. commercial launch activities are well underway following the June 29 approval, in parallel with launch progress across a number of European countries."
Mr. Bienaimé added, "for the remainder of 2023, we plan to build on the foundation of growth and profitability achieved in the first half of the year, expand VOXZOGO globally and treat the first ROCTAVIAN patients in the U.S. and Europe."
Financial Highlights:
- Total Revenues for the second quarter of 2023 were $595.3 million, an increase of 12% compared to the same period in 2022. The increase in Total Revenues was primarily attributed to the following:
- GAAP and Non-GAAP Net Income increased by $28.3 million and $28.4 million, respectively, for the second quarter of 2023 compared to the same period in 2022. The increased net income was primarily due to higher gross profit and interest income, partially offset by higher spend in research and development programs to support both early-stage research and clinical activities, as well as higher selling, general and administrative expenses due to higher foreign currency losses and to support the commercial launches of VOXZOGO and ROCTAVIAN.
Recent Product Approvals and Launches (ROCTAVIAN and VOXZOGO)
- On June 29, 2023 the FDA approved ROCTAVIAN gene therapy for the treatment of adults with severe hemophilia A (congenital factor VIII (FVIII) deficiency with FVIII activity < 1 IU/dL) without antibodies to adeno-associated virus serotype 5 (AAV5) detected by an FDA-approved test. The FDA approval is based on data from the global Phase 3 GENEr8-1 study, the largest Phase 3 trial of any gene therapy in hemophilia. The one-time, single-dose infusion is the first approved gene therapy for severe hemophilia A in the U.S. ROCTAVIAN was first conditionally approved by the European Commission in August 2022.
Following FDA approval, the Company activated its U.S.-based salesforce and communicated that ROCTAVIAN is expected to be available for commercial use in August. BioMarin estimates that there are approximately 2,500 people living with severe hemophilia A in the United States who are eligible for treatment and receiving care at approximately 140 hemophilia treatment centers. - In Europe, BioMarin continues to make progress on the pricing and reimbursement process for ROCTAVIAN in Germany, France and Italy to facilitate access. BioMarin is working directly with the German National Association of Statuary Health Insurance Funds (GKV) to finalize access to ROCTAVIAN. At present, people in Germany with severe hemophilia A, who are eligible for treatment with ROCTAVIAN, can access treatment through either Named Patient authorizations or previously secured Outcomes Based Agreements. In France and Italy, BioMarin is working directly with the single public insurance funds in each country to secure reimbursement and access to ROCTAVIAN, expected later in 2023.
- As of the end of June 2023, more than 2,000 children with achondroplasia were being treated with VOXZOGO across 36 active markets. In the second quarter, patient growth remained strong worldwide. Based on these trends, today BioMarin updated full-year 2023 VOXZOGO guidance to between $400 million and $440 million. VOXZOGO is currently approved for the treatment of children 2 years old and older in Europe, for children 5 years old and older in the U.S., and approved for all ages from birth in Japan.
VOXZOGO and ROCTAVIAN Market Expansion Opportunities
- Today, BioMarin announced its plan to begin enrollment in the pivotal program with VOXZOGO for the treatment of children with hypochondroplasia, a condition characterized by impaired bone growth. Hypochondroplasia is a genetic statural condition caused by a mutation (gene change) in the fibroblast growth factor receptor-3 (FGFR3) gene.
Leveraging years of safety data from the VOXZOGO development program in achondroplasia, emerging data from an investigator-led Phase 2 study and following receipt of feedback from FDA, BioMarin plans to begin the 6-month observation arm of the study later this year, followed by the 52-week randomized, double-blind, placebo-controlled phase of the 80-participant clinical trial. If successful, BioMarin believes this study will be able to support regulatory approval in this large indication. - In the coming months in the U.S. and Europe, the Company expects to learn the outcome of its request to expand VOXZOGO access to younger age groups, based on favorable results from a Phase 2 study in infants and young children and the importance of starting treatment as early as feasible. Age expansions would provide access to treatment with VOXZOGO to more than 1,000 additional children in the U.S. and Europe.
- Additional product expansion opportunities with ROCTAVIAN continue, including a clinical study investigating ROCTAVIAN treatment in those with active or prior inhibitors and continued exploration of methods of administering ROCTAVIAN in people with pre-existing antibodies against AAV5.
Earlier-stage Development Portfolio (BMN 255, BMN 331, BMN 351, BMN 349, BMN 293)
- BioMarin plans to showcase its Research and Development capabilities and earlier-stage product candidate updates at its R&D Day on September 12, 2023. Details on accessing the live event will be available on BioMarin's website in early September.
- BMN 255 for hyperoxaluria in chronic liver disease: The Company has concluded the multi-ascending dose study with BMN 255 in healthy human volunteers. Based on early data demonstrating a rapid and potent increase in plasma glycolate following treatment with BMN 255, BioMarin plans to open enrollment in an expanded study in patients with chronic liver disease and hyperoxaluria in the second half of 2023. The Company believes the availability of a potent, orally bioavailable, small molecule like BMN 255 may be able to significantly reduce disease and treatment burden in a patient population with significant unmet need.
- BMN 331 gene therapy product candidate for Hereditary Angioedema (HAE): Dosing continues in the Phase 1/2 HAERMONY study to evaluate BMN 331, an investigational AAV5-mediated gene therapy for people living with HAE. In January 2023, BioMarin shared that the first participant treated with the 6e13vg/kg dose demonstrated C1-Inhibitor levels that were approaching the therapeutically relevant range. In March 2023, the second sentinel participant was safely dosed at 6e13vg/kg and this individual has had a similar initial response. BioMarin will continue to monitor the trajectory of expression in these two individuals before deciding on next steps in this program.
- BMN 351 for Duchenne Muscular Dystrophy (DMD): Investigational New Drug application (IND)-enabling activities continue with BMN 351, an antisense oligonucleotide therapy for individuals with exon 51-skip-amenable DMD. BMN 351 was developed using familiar chemistry and superior biology, by targeting a novel, splice enhancer site demonstrating improved binding affinity and tolerability in preclinical models. Preclinical data suggest that restored expression of near-full-length dystrophin protein at levels of up to 40% will convert phenotypes from rapid loss to durable preservation of strength and ambulation.
- BMN 349 for alpha-1 antitrypsin deficiency: Preclinical studies have demonstrated that BMN 349 is an orally bioavailable, small molecule that preferentially sequesters mutant protein, preventing polymerization in liver cells that drive the progressive liver disease form of the illness. In preclinical studies BMN 349 is titratable to effect, with rapid onset and high potency. Preclinical results have strong implications for potential improvement of current management, particularly for severe liver disease requiring rapid action. IND enabling studies are concluding and BioMarin plans to submit the IND in the second half of 2023.
- BMN 293 for MYBPC3 hypertrophic cardiomyopathy (HCM): Mutations in the MYBPC3 gene are the most common cause of inherited HCM. Early investigations suggest that gene therapy-mediated gene transfer can lead to widespread expression of the gene product, cardiac myosin-binding protein C (MyBP-C), in cardiac tissue, which can normalize cardiac hypertrophy, improve relaxation kinetics and potentially alleviate functional deficits in individuals suffering from cardiomyopathy. IND enabling studies are underway and have incorporated pre-IND feedback from the FDA. BioMarin's goal is to submit an IND for BMN 293 in the second half of 2023.
2023 Full-Year Financial Guidance (in millions, except % and EPS amounts) (Updated)
BioMarin will host a conference call and webcast to discuss second quarter 2023 financial results today, Monday, July 31, 2023, at 4:30 p.m. ET. This event can be accessed through this link or on the investor section of the BioMarin website at www.biomarin.com.
About BioMarin
Founded in 1997, BioMarin is a global biotechnology company dedicated to transforming lives through genetic discovery. The Company develops and commercializes targeted therapies that address the root cause of genetic conditions. BioMarin's robust research and development capabilities have resulted in multiple innovative commercial therapies for patients with rare genetic disorders. The Company's distinctive approach to drug discovery has produced a diverse pipeline of commercial, clinical, and pre-clinical candidates that address a significant unmet medical need, have well-understood biology, and provide an opportunity to be first-to-market or offer a substantial benefit over existing treatment options. For additional information, please visit www.biomarin.com.
Forward-Looking Statements
This press release and the associated conference call and webcast contain forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including, without limitation, statements about: the expectations of Total Revenues, Net Product Revenues, Enzyme Product Revenues, Gross Profit, Research and Development Expense (R&D), Selling, General and Administrative Expense (SG&A), GAAP Net Income, Non-GAAP Income, GAAP Diluted EPS and Non-GAAP Diluted EPS for the full-year 2023; cash flows from operating activities; the timing of orders for commercial products; the timing of BioMarin's clinical development and commercial prospects, including announcements of data from clinical studies and trials; the clinical development and commercialization of BioMarin's product candidates and commercial products, including (i) the potential to leverage VOXZOGO in conditions beyond achondroplasia, such as hypochondroplasia, (ii) the results from clinical studies regarding product expansion opportunities for ROCTAVIAN, (iii) BioMarin's plans to initiate and enroll an expanded study of BMN 255 in the second half of 2023, (iv) BioMarin's plan to submit an IND for BMN 349 in the second half of 2023, and (v) BioMarin's goal to submit an IND for BMN 293 in the second half of 2023; the potential approval and commercialization of BioMarin's product candidates, including commercialization of ROCTAVIAN for the treatment of severe hemophilia A in the U.S. following FDA approval in June 2023, and the timing of such approval decisions and product launches, including (i) the anticipated start and growth of commercial sales of VOXZOGO in additional countries, and (ii) BioMarin's expectation that U.S. and EU health authorities take action on its supplemental marketing applications for VOXZOGO in the coming months and the number of additional children that will be eligible for VOXZOGO if such age expansions are accepted; the expected benefits and availability of BioMarin's product candidates; and potential growth opportunities and trends, including that BioMarin expects accelerated growth of VOXZOGO revenues as the product launch continues in future quarters and that BioMarin expects growth of ROCTAVIAN revenues as the product's access is expanded in Europe and following commercial launch in the U.S.
These forward-looking statements are predictions and involve risks and uncertainties such that actual results may differ materially from these statements. These risks and uncertainties include, among others: BioMarin's success in the commercialization of its commercial products, impacts of macroeconomic and other external factors on BioMarin's operations; results and timing of current and planned preclinical studies and clinical trials and the release of data from those trials; BioMarin's ability to successfully manufacture its commercial products and product candidates; the content and timing of decisions by the FDA, the European Commission and other regulatory authorities concerning each of the described products and product candidates; the market for each of these products; actual sales of BioMarin's commercial products; the introduction of generic versions of BioMarin's commercial products, in particular generic versions of KUVAN; and those factors detailed in BioMarin's filings with the Securities and Exchange Commission (SEC), including, without limitation, the factors contained under the caption "Risk Factors" in BioMarin's Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 as such factors may be updated by any subsequent reports. Stockholders are urged not to place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.
BioMarin®, BRINEURA®, KUVAN®, NAGLAZYME®, PALYNZIQ®, VIMIZIM® and VOXZOGO® are registered trademarks of BioMarin Pharmaceutical Inc., or its affiliates. ROCTAVIANTM is a trademark of BioMarin Pharmaceutical Inc. ALDURAZYME® is a registered trademark of BioMarin/Genzyme LLC. All other brand names and service marks, trademarks and other trade names appearing in this release are the property of their respective owners.
Non-GAAP Information
The results presented in this press release include both GAAP information and Non-GAAP information. Non-GAAP Income is defined by the Company as GAAP Net Income excluding amortization expense, stock-based compensation expense, contingent consideration expense, and, in certain periods, certain other specified items, as detailed below when applicable. The Company also includes a Non-GAAP adjustment for the estimated tax impact of the reconciling items. Non-GAAP Diluted EPS is defined by the Company as Non-GAAP Income divided by Non-GAAP diluted shares outstanding
BioMarin regularly uses both GAAP and Non-GAAP results and expectations internally to assess its financial operating performance and evaluate key business decisions related to its principal business activities: the discovery, development, manufacture, marketing and sale of innovative biologic therapies. Because Non-GAAP Income, Non-GAAP Diluted EPS and Non-GAAP Diluted Shares are important internal measurements for BioMarin, the Company believes that providing this information in conjunction with BioMarin's GAAP information enhances investors' and analysts' ability to meaningfully compare the Company's results from period to period and to its forward-looking guidance, and to identify operating trends in the Company's principal business. BioMarin also uses Non-GAAP Income internally to understand, manage and evaluate its business and to make operating decisions, and compensation of executives is based in part on this measure.
Non-GAAP Income and its components are not meant to be considered in isolation or as a substitute for, or superior to comparable GAAP measures and should be read in conjunction with the consolidated financial information prepared in accordance with GAAP. Investors should note that the Non-GAAP information is not prepared under any comprehensive set of accounting rules or principles and does not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP. Investors should also note that these Non-GAAP financial measures have no standardized meaning prescribed by GAAP and, therefore, have limits in their usefulness to investors. In addition, from time to time in the future there may be other items that the Company may exclude for purposes of its Non-GAAP financial measures; likewise, the Company may in the future cease to exclude items that it has historically excluded for purposes of its Non-GAAP financial measures. Because of the non-standardized definitions, the Non-GAAP financial measure as used by BioMarin in this press release and the accompanying tables may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies.
The following tables present the reconciliation of GAAP reported to Non-GAAP adjusted financial information:
View original content to download multimedia:
SOURCE BioMarin Pharmaceutical Inc.
|
https://www.kxii.com/prnewswire/2023/07/31/biomarin-announces-strong-second-quarter-2023-results-record-breaking-revenues-first-half-2023-including-13-year-over-year-growth-year-to-date/
| 2023-07-31T20:47:07
| 0
|
https://www.kxii.com/prnewswire/2023/07/31/biomarin-announces-strong-second-quarter-2023-results-record-breaking-revenues-first-half-2023-including-13-year-over-year-growth-year-to-date/
|
BEIJING (AP) — A zoo in eastern China is denying suggestions some of its bears might be people in costumes after photos of the animals standing like humans circulated online.
The sun bears from Malaysia are smaller than other bears and look different but are the real thing, the Hangzhou Zoo said Monday on its social media account.
“Some people think I stand like a person,” said the posting, written from the bear’s point of view. “It seems you don’t understand me very well.”
An employee who answered the phone at the zoo declined to talk about the bears but said visits were being arranged for reporters Monday to see them.
Internet users questioned whether the zoo’s bears were real after photos circulated showing one standing upright on slender hind legs.
“Because of the way they stand, some people online question whether they are ‘humans in disguise,’” the newspaper Hangzhou Daily said.
Sun bears are the size of large dogs, standing at most 1.3 meters (50 inches) tall on their hind legs, compared with up to 2.8 meters (9 feet) for grizzlies and other species, according to the zoo.
Other Chinese zoos have been accused of trying to pass off dogs dyed to look like wolves or African cats, and donkeys painted to look like zebras.
|
https://www.yourbasin.com/news/international/ap-our-bears-are-real-a-chinese-zoo-says-denying-they-are-humans-in-disguise/
| 2023-07-31T20:47:11
| 0
|
https://www.yourbasin.com/news/international/ap-our-bears-are-real-a-chinese-zoo-says-denying-they-are-humans-in-disguise/
|
Jury poised to deliberate death penalty or life sentence for gunman in Pittsburgh synagogue massacre
PITTSBURGH (AP) — A jury is set to deliberate whether to impose the death penalty or a sentence of life in prison without parole on a man who spewed antisemitic hate before fatally shooting 11 worshippers at a synagogue in the heart of Pittsburgh’s Jewish community.
The same jurors who convicted 50-year-old Robert Bowers in June on 63 criminal counts listened to closing arguments Monday in the penalty phase of his federal trial, held nearly five years after the truck driver from suburban Baldwin perpetrated the deadliest attack on Jews in U.S. history.
Bowers defiled a place of worship when he entered the Tree of Life synagogue on Oct. 27, 2018, and opened fire with an AR-15 rifle, shooting everyone he could find in a mass murder clearly motivated by religious hatred, said U.S. Attorney Eric Olshan.
Bowers raved incessantly on social media about his hatred of Jewish people — using a slur for Jewish people some 400 times on a social media platform favored by the far right — and remains proud that he killed Jews, the prosecutor reminded jurors,
“Do not be numb to it. Remember what it means. This defendant targeted people solely because of the faith that they chose,” Olshan said.
He added: “This is a case that calls for the most severe punishment under the law: the death penalty.”
Bowers’ lead defense attorney, Judy Clarke, acknowledged the horror of his crimes but urged jurors to opt for a life sentence.
“What has happened cannot be undone. We can’t rewind the clock and make it that this senseless crime never happened. All we can do is make the right decision going forward. We are asking you to make the right decision, and that is life,” Clarke said in her closing argument.
A life sentence would mean that “prison is where Mr. Bowers will die in obscurity, not as a hero and not as a martyr,” she said.
Bowers’ attorneys have argued that he has schizophrenia, a serious brain disorder whose symptoms include delusions and hallucinations, and that Bowers attacked the synagogue out of a delusional belief that Jews were helping to bring about a genocide of white people by coming to the aid of refugees and immigrants. Clarke recounted Bowers’ history of psychiatric hospitalizations, including an extended stay in a residential juvenile mental health program.
The defense also presented evidence of Bowers’ difficult childhood.
Olshan disputed the defense experts’ diagnosis of schizophrenia, asserting that Bowers was not suffering psychosis but had chosen to believe white supremacist rhetoric. And while acknowledging that Bowers was a depressed, neglected child, Olshan downplayed the significance of it, noting that Bowers had held jobs, paid bills, and was an otherwise functioning adult.
“He was not a child, he was a grown man. He was responsible for his actions, not his family and things that happened decades earlier. He was, he is responsible for his actions,” Olshan said.
In order to impose death, jurors must find that aggravating circumstances, which make the crime especially heinous, outweigh mitigating factors that could be seen as diminishing his culpability. Those aggravating circumstances could include the vulnerability of Bowers’ elderly and disabled victims and his targeting of Jewish people.
Olshan played a composite of 911 calls made from inside the synagogue, including audio of people being shot and a survivor’s horrified screams.
He said Bowers had taken “11 people, 11 full lives, 11 people who loved their families, 11 people who loved their friends, 11 people who were loved. ... How do you measure the impact of all of that loss?”
The prosecutor spoke about 75-year-old Joyce Fienberg’s care for her family and 65-year-old Richard Gottfried’s devotion to his faith. He said Dr. Jerry Rabinowitz, 66, had the ethos of a country doctor: “He loved delivering babies but he never delivered judgment.” David Rosenthal, 54, and Cecil Rosenthal, 59, intellectually disabled brothers, “loved life,” Olshan said. “But maybe more than anything, they loved Tree of Life.”
The other deceased victims were Rose Mallinger, 97; Bernice Simon, 84, and her husband, Sylvan Simon, 86; Dan Stein, 71; Melvin Wax, 87; and Irving Younger, 69.
The attack also wounded seven people, including five responding police officers. Bowers was shot three times before surrendering when he ran out of ammunition.
___
Rubinkam reported from northeastern Pennsylvania.
Copyright 2023 The Associated Press. All rights reserved.
|
https://www.wibw.com/2023/07/31/jury-poised-deliberate-death-penalty-or-life-sentence-gunman-pittsburgh-synagogue-massacre/
| 2023-07-31T20:47:12
| 0
|
https://www.wibw.com/2023/07/31/jury-poised-deliberate-death-penalty-or-life-sentence-gunman-pittsburgh-synagogue-massacre/
|
Health regulators in the United States are working to respond to a potential tuberculosis outbreak that's linked to a company's tainted bone graft products.
Three new cases of the highly unusual and deadly disease were identified in the U.S. last week, bringing the total number of cases to five, according to Politico. At least one person has died.
The Centers for Disease Control and Prevention said the cases appear to be linked to a single product sold by Aziyo Biologics Inc. that's used in surgical and dental procedures.
Shipments of the product were sent to over a dozen facilities in California, Louisiana, Michigan, New York, Oregon, Texas and Virginia. Regulators said product from the contaminated lot was implanted in at least 36 other people.
"CDC and FDA are working with state and local health departments, hospitals, surgical centers, and dental offices in the affected states to ensure patients are rapidly evaluated and treated, prevent further patient harm, and determine if additional measures can be taken to prevent similar outbreaks in the future," the agency said in a statement.
SEE MORE: Authorities arrest woman refusing tuberculosis treatment
Aziyo issued a voluntary recall notice for the tainted product earlier this month and the CDC says all of the unused units have been removed from inventory.
"We are taking immediate action to safeguard patients by implementing a full product recall as we work with the CDC to investigate this event," Aziyo president and CEO Dr. Randy Mills said in a statement. "The people of Aziyo care deeply about the patients we serve and will continue to work with the medical community, patients, and regulatory authorities as we gather additional information."
However, this isn't the first time the company has been linked to a deadly outbreak of the rare disease. In 2021, a different bone graft product sold by Aziyo was responsible for a tuberculosis outbreak in at least 87 patients, eight of which died.
SEE MORE: Tick bites likely causing thousands to develop meat allergy
Tuberculosis is an infectious disease that primarily affects an infected person's lungs, but can also target other parts of the body, such as the brain, spine, or kidneys. It is transmitted through the air when an infected person coughs, sneezes, or speaks, releasing tiny droplets that contain the bacteria.
Tuberculosis is treatable and curable, but requires a specific course of antibiotics taken over several months to ensure all bacteria has been eliminated from the body. Preliminary data from the CDC shows that the number of cases in the U.S. increased by 5% in 2022 to 8,300 cases, specifically among children under 4 years of age, those who are incarcerated, and people who have immigrated from parts of the world with high rates of the disease.
The U.S. has one of the lowest tuberculosis rates in the world, thanks to large investments into domestic programs and control efforts.
Trending stories at Scrippsnews.com
|
https://www.kivitv.com/deadly-tuberculosis-outbreaks-in-us-linked-to-tainted-bone-grafts
| 2023-07-31T20:47:13
| 1
|
https://www.kivitv.com/deadly-tuberculosis-outbreaks-in-us-linked-to-tainted-bone-grafts
|
Which kids bento boxes are best?
Bento boxes are of Japanese origin and have been used for centuries by adults and kids alike. They are becoming a popular choice for kids lunch boxes across the country due to their simplicity, aesthetic and convenience. You can definitely pack your kid a smile-inducing lunch consisting of all their favorite foods if you swap them over to one. We tested our top pick, the Bentgo Kids Lunch Box, and have all the insights you need below.
Shop this article: Bentgo Kids Lunch Box, Munchkin Bento Box and Kinsho Bento Box for Kids.
Kids bento boxes vs. bento boxes for adults
Like traditional lunch boxes, bento boxes for kids come in a variety of fun styles and colors. They are great for inspiring a sense of wonder or style in your child. Plus, kids’ bento boxes are extra convenient for parents because the compartments are smaller to help gauge food portions. Kids bento boxes are also often easier to clean and dishwasher-safe.
Number of compartments
When picking any bento box, look out for how many compartments it contains. Depending on how much food your child normally eats, you can pick a bento box with fewer or more compartments. Be on the lookout for bento boxes with versatile compartments too, such as a compartment for soup. A more versatile bento box can lead to a happier kid, as you can accommodate their favorite foods.
What to look for in a quality kids bento box
- Durability: As with buying anything for a child, make sure the bento box is durable. Most boxes for kids are drop-proof and come with rubber padding around the exterior.
- Leakproof: Most pack their kid’s bento box in a school bag. To do this without worrying, find a leakproof bento box. No matter what type of food you pack for your child’s lunch, a leakproof lid and a tight seal give you peace of mind.
- Separate compartments: Many kids are picky eaters that don’t appreciate their foods mingling together. Bento boxes, by nature, contain several compartments meant to keep food fresh and separate. However, some boxes have a bit of space between the walls of the compartments and the lid. This can allow food to slosh around a bit.
- Easy to clean: Kids are notoriously messy eaters, so you want a bento box that’s easy to clean. Most are dishwasher-safe, but some plastic bento boxes can stain and retain residual odors over time, or warp in the dishwasher.
- Cost: Kids bento boxes can range from $20-$35.
Kids bento box FAQ
Do kids bento boxes keep food warm?
A. Most bento boxes for kids don’t retain heat. If you want to ensure that your child has a warm lunch, consider buying a stainless steel bento box from a trusted bento brand such as Zojirushi.
Are kids bento boxes dishwasher-safe?
A. Most are, but check the manufacturer’s instructions before putting one in the dishwasher. Some are only top-rack safe. Others have attached parts that aren’t machine washable.
Best kids bento box
What you need to know: We tested this product and found it the top choice for parents of younger kids.
What you’ll love: Our tester found the seal to be strong enough to stay closed but not so strong that a toddler can’t get it opened. It has five compartments of varying sizes and our tester’s child loved the designs. It’s dishwasher-safe.
What you should consider: Our tester found some slight leakage when only water was inside. But, it’s leakproof against thicker liquids such as sauces.
Where to buy: Sold by Amazon
Best kids bento box for the money
What you need to know: This plastic bento from Munchkin is great for kids aged 6-8.
What you’ll love: This bento box is durable and comes in a few different color options.
What you should consider: Some parents have said that this box is too heavy for younger toddlers to use.
Where to buy: Sold by Amazon
Worth checking out
What you need to know: This bento box from Kinsho is a solid option for kids of all ages thanks to its handy, leakproof lid.
What you’ll love: This set includes two stackable bento boxes with three compartments each, so a grand total of six compartments for food. They are durable and the leakproof lid works well.
What you should consider: These are marketed as dishwasher safe, but should be hand washed. The lid’s seal is strong and may be difficult for younger kids to open on their own.
Where to buy: Sold by Amazon
Want to shop the best products at the best prices? Check out Daily Deals from BestReviews.
Sign up here to receive the BestReviews weekly newsletter for useful advice on new products and noteworthy deals.
Addison Hoggard writes for BestReviews. BestReviews has helped millions of consumers simplify their purchasing decisions, saving them time and money.
Copyright 2023 BestReviews, a Nexstar company. All rights reserved.
|
https://fox59.com/reviews/br/kitchen-br/lunch-boxes-br/best-kids-bento-box/
| 2023-07-31T20:47:14
| 0
|
https://fox59.com/reviews/br/kitchen-br/lunch-boxes-br/best-kids-bento-box/
|
Tech Veteran Brings Nearly Three Decades of Experience to Help Drive Growth for Leading Fast-Casual Mexican Restaurant
SAN DIEGO, July 31, 2023 /PRNewswire/ -- Modern Restaurant Concepts ("MRC"), a leading fast-casual restaurant platform comprised of the QDOBA and Modern Market Eatery brands, announced that Prashant Budhale has joined the company as Chief Technology Officer. Budhale brings more than 28 years of experience in technology leadership to MRC, and as CTO, will lead all technology across MRC brands.
"We are excited for Prashant to join the MRC team," said John Cywinski, CEO of Modern Restaurant Concepts. "I view technology as a foundational enabler of all that we do in the restaurant business, from a guest, team member, and corporate enterprise perspective. Prashant will lead our strategy to drive technology as a powerful brand differentiator, and he will be a terrific collaborator with our existing leadership team as well as our franchise partners moving forward."
"I'm excited about QDOBA's history of strong same store sales growth, potential for net unit growth, and the ability for technology to make a positive impact to both guest and team member experiences," Budhale said. "I'm also very encouraged by John's vision and Butterfly Equity's commitment to the growth of brands within MRC portfolio."
Prior to joining Modern Restaurant Concepts, Budhale served as Head of Technology for SONIC Drive-In, part of the Inspire Brands portfolio. At SONIC, he was responsible for the vision, development, and implementation of all technology initiatives across the 3,550 unit, $6B brand. Prior to SONIC, Prashant was Senior Director for Pizza Hut, part of YUM! Brands, where he led retail technology. Earlier in his career, Prashant worked as a software development consultant with IBM, Allstate, Oracle, Capgemini, and Fujitsu America.
QDOBA is a fast casual Mexican restaurant with over 750 locations in the U.S. and Canada. Committed to delivering flavor to people's lives, QDOBA uses ingredients prepared in-house, by hand, and fresh throughout the day, to create delicious menu options. Guests can experience QDOBA's delicious flavors by enjoying one of its signature menu options that are chef-crafted for convenience and ease or by customizing their burritos, tacos, burrito bowls, salads, quesadillas, and nachos to fit their personal tastes. For five years running, QDOBA has been voted the "Best Fast Casual Restaurant" as part of the USA TODAY 10Best Readers' Choice Awards. Discover more at www.QDOBA.com or on the QDOBA app.
For more information on the company, please visit www.QDOBA.com or follow the brand on Instagram, Facebook, Twitter and TikTok.
About Modern Restaurant Concepts
Modern Restaurant Concepts is one of the largest fast casual restaurant platforms in North America with nearly 800 units across two brands, QDOBA and Modern Market Eatery. The system operates corporate-owned and franchised units across nearly every U.S. state as well as Canada and Puerto Rico. Modern Restaurant Concepts is owned by Butterfly Equity, a Los Angeles-based private equity firm specializing in the food sector, with more than $10 billion of equity capital in companies ranging from growth-stage to Fortune 500 enterprises.
QDOBA is a fast casual Mexican restaurant with over 750 locations in the U.S. and Canada. Committed to delivering flavor to people's lives, QDOBA uses ingredients prepared in-house, by hand, and fresh throughout the day, to create delicious menu options. Guests can experience QDOBA's delicious flavors by enjoying one of its signature menu options that are chef-crafted for convenience and ease or by customizing their burritos, tacos, burrito bowls, salads, quesadillas, and nachos to fit their personal tastes. For five years running, QDOBA has been voted the "Best Fast Casual Restaurant" as part of the USA TODAY 10Best Readers' Choice Awards. Discover more at www.QDOBA.com or on the QDOBA app.
Modern Market Eatery is a food forward, sustainable fast casual restaurant concept that operates in Colorado, Texas, Arizona, and Indiana. Delivering the freshness and flavors of the market in a modern dining format and environment, Modern Market Eatery's menu of protein-centric bowls, garden fresh salads, toasted sandwiches and brick-oven pizzas redefine what it means to eat well at a reasonable price. For additional information about Modern Market Eatery, please visit www.modernmarket.com.
View original content to download multimedia:
SOURCE QDOBA
|
https://www.wbtv.com/prnewswire/2023/07/31/modern-restaurant-concepts-announces-appointment-prashant-budhale-chief-technology-officer/
| 2023-07-31T20:47:14
| 1
|
https://www.wbtv.com/prnewswire/2023/07/31/modern-restaurant-concepts-announces-appointment-prashant-budhale-chief-technology-officer/
|
Imagine stepping on stage with your favorite artist in VR from your browser. Discover secret rooms, join live Q&As with other fans, shop for merch, and more. Connect with your audience like never before.
NEW YORK, July 31, 2023 /PRNewswire/ -- BR Marketing Group, a leading luxury brand marketing agency in NYC, is excited to offer its new Web Virtual Reality (WebVR) service to clients worldwide. With this service, clients can create memorable marketing experiences in WebVR. WebVR is a technology that allows users to enjoy virtual reality from their browsers, without any extra hardware or software.
BR Marketing Group has a team of creative experts who design and promote WebVR experiences that capture the unique essence of each brand. Whether it's a concert, a store, a gallery, or more BR Marketing Group can bring it to life in WebVR.
"Our service stands out because we embrace the future. We know how innovative technologies like WebVR can transform the customer experience," said Andrea Canas, CEO of BR Marketing Group.
- Drake, global superstar, has recently taken his concerts and online store to the next level by adding immersive technology for an interactive virtual experience. He is not alone. Luxury brands and artists are following suit.
- Revenue in the VR Advertising market is projected to reach US$161.70m in 2023, revenue is expected to show an annual growth rate (CAGR 2023-2027) of 2.33%, resulting in a projected market volume of US$177.30m by 2027, according to a recent study.
WebVR is still a new and fast-growing tech, able to give immersive, interactive, awe-inspiring experiences. WebVR also connects with IRL events, enabling users to explore real-world objects, locations, and people through VR.
To get more info on WebVR or work with BR Marketing Group for your next virtual or IRL event, visit us at brmarketgroup.com or call 332-600-4466.
About BR Marketing Group
As one of the first creative agencies to offer WebVR immersive services, BR Marketing Group combines its web development, design, and marketing skills to create amazing VR events that connect the virtual and physical worlds.
BR Marketing Group is a leading luxury brand marketing agency in NYC, led by Andrea Cañas, a visionary Latina leader. She and her team of creative experts' craft captivating and unforgettable marketing experiences that bring out the unique essence of each brand they work with.
View original content to download multimedia:
SOURCE BR Marketing Group
|
https://www.kxii.com/prnewswire/2023/07/31/br-marketing-group-launches-webvr-immersive-service-new-way-boost-brand-loyalty-engagement/
| 2023-07-31T20:47:14
| 1
|
https://www.kxii.com/prnewswire/2023/07/31/br-marketing-group-launches-webvr-immersive-service-new-way-boost-brand-loyalty-engagement/
|
PYEONGTAEK, South Korea (AP) — The dogs bark and stare as Kim Jong-kil approaches the rusty cages housing the large, short-haired animals he sells for their meat. Kim opens a door and pets one dog’s neck and chest.
Kim says he’s proud of the dog meat farm that has supported his family for 27 years, but is upset over growing attempts by politicians and activists to outlaw the business, which he is turning over to his children.
“It’s more than just feeling bad. I absolutely oppose these moves, and we’ll mobilize all our means to resist it,” Kim, 57, said in an interview at his farm in Pyeongtaek city, just south of Seoul.
Dog meat consumption is a centuries-old practice on the Korean Peninsula and has long been viewed as a source of stamina on hot summer days. It’s neither explicitly banned nor legalized in South Korea, but more and more people want it prohibited. There’s increasing public awareness of animal rights and worries about South Korea’s international image.
The anti-dog meat campaign recently received a big boost when the country’s first lady expressed her support for a ban and two lawmakers submitted bills to eliminate the dog meat trade.
“Foreigners think South Korea is a cultural powerhouse. But the more K-culture increases its international standing, the bigger shock foreigners experience over our dog meat consumption,” said Han Jeoungae, an opposition lawmaker who submitted legislation to outlaw the dog meat industry last month.
Prospects for passage of an anti-dog meat law are unclear because of protests by farmers, restaurant owners and others involved in the dog meat industry. Surveys suggest that one in three South Koreans opposes such a ban, though most people don’t eat dog meat anymore.
Dogs are also eaten in China, Vietnam, Indonesia, North Korea and some African countries, including Ghana, Cameroon, Congo and Nigeria.
Earlier this month, Indonesian authorities announced the end of dog and cat slaughter at an animal market on the island of Sulawesi following a yearslong campaign by local activists and world celebrities. The Tomohon Extreme Market will become the first such market in Indonesia to go dog and cat meat-free, according to the anti-animal cruelty group Humane Society International.
South Korea’s dog meat industry receives more international attention because of its reputation as a wealthy, ultra-modern democracy. It is also the only nation with industrial-scale farms. Most farms in South Korea have more than 500 dogs, according to a dog farmers’ association.
During a recent visit, Kim’s farm, one of the country’s largest with 7,000 dogs, appeared relatively clean but there was a strong stench in some areas. All dogs are kept in elevated cages and are fed with food waste and ground chicken. They are rarely released for exercise and typically are sold for meat one year after they are born.
Kim said two of his children, age 29 and 31, are running the farm with him, and that business has been going pretty well. He said the dogs bred for their meat are different from pets, an idea opposed by activists.
It’s difficult now to find dog meat restaurants in Seoul’s bustling downtown, though many still exit in the countryside.
“I only earn one-third of the money I used to make. Young people don’t come here. Only ailing old people come for lunch,” said Yoon Chu-wol, 77, the owner of a dog meat restaurant in Seoul’s Kyungdong traditional market. “I tell my elderly customers to come and eat my food more frequently before it’s banned.”
Farmers also face growing scrutiny from officials and increasingly negative public opinion. They complain that officials visit them repeatedly in response to complaints filed by activists and citizens over alleged animal abuse and other wrongdoing. Kim said more than 90 such petitions were filed against his farm during a recent four-month span.
Son Won Hak, general secretary of the dog farmers’ association, said many farms have collapsed in recent years because of falling dog meat prices and weaker demand. He thinks that’s a result of activist campaigns and unfair media reports focusing on farms with inferior conditions. Some observers, however, say consumption of dog meat was already declining, with younger people staying away from it.
“Quite honestly, I’d like to quit my job (as a farmer) tomorrow. We can’t confidently tell our children that we’re raising dogs,” Son said. “When my friends called me, they said ‘Hey, are you still running a dog meat farm? Isn’t it illegal?’”
The number of farms across South Korea has dropped by half from a few years ago to about 3,000 to 4,000, and about 700,000 to 1 million dogs are slaughtered each year, a decline from several million 10 to 20 years ago, according to the dog farmers’ association. Some activists argue that the farmers’ estimates are an exaggeration meant to show their industry is too big to destroy.
In late 2021, South Korea launched a government-civilian task force to consider outlawing dog meat at the suggestion of then-President Moon Jae-in, a pet lover. The committee, whose members include farmers and animal rights activists, has met more than 20 times but hasn’t reached any agreement, apparently because of disputes over compensation issues.
Agriculture officials refused to disclose the discussions in the closed-door meetings. They said the government wants to end dog meat consumption based on a public consensus.
In April, first lady Kim Keon Hee, the wife of current President Yoon Suk Yeol, said in a meeting with activists that she hopes for an end to dog meat consumption. Famers responded with rallies and formal complaints against Kim for allegedly hurting their livelihoods.
Han, the lawmaker, said she “highly positively appraises” influential figures speaking out against dog meat consumption.
Han said her bill offers support programs for farmers who agree to close their farms. They would be entitled to money to dismantle their facilities, vocational training, employment assistance and other benefits, she said.
Ju Yeongbong, an official of the farmers’ association, said farmers want to continue for about 20 more years until older people, their main customers, die, allowing the industry to naturally disappear. Observers say most farmers are also in their 60s to 70s.
Borami Seo, a director of the South Korea office of the Humane Society International, said she opposes the continued killing of millions of dogs for such a prolonged period. “Letting this silent cruelty to (dogs) be committed in South Korea doesn’t make sense,” Seo said.
“(Dog meat consumption) is too anachronistic, has elements of cruelty to animals and hinders our national growth,” said Cheon JinKyung, head of Korea Animal Rights Advocates in Seoul.
|
https://www.yourbasin.com/news/international/ap-south-korean-dog-meat-farmers-push-back-against-growing-moves-to-outlaw-their-industry/
| 2023-07-31T20:47:17
| 1
|
https://www.yourbasin.com/news/international/ap-south-korean-dog-meat-farmers-push-back-against-growing-moves-to-outlaw-their-industry/
|
Trader Joe’s falafel recalled because it may contain rocks
(Gray News) – Trader Joe’s is recalling a cooked falafel product because it “may contain rocks.”
The grocery chain announced Friday that the supplier of its Fully Cooked Falafel (SKU# 93935) warned it about the product possibly containing rocks.
Trader Joe’s said the recalled falafel is sold in its stores in Alabama, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Vermont, Wisconsin and Washington, D.C.
“All potentially affected product has been removed from sale and destroyed,” Trader Joe’s said in its announcement.
Customers are urged to discard the falafel and return it to any Trader Joe’s location for a full refund.
Trader Joe’s also announced Friday that it was recalling some of its cookies because they also may contain rocks, and the chain recently recalled its broccoli cheddar soup because it may contain insects.
Copyright 2023 Gray Media Group, Inc. All rights reserved.
|
https://www.wibw.com/2023/07/31/trader-joes-falafel-recalled-because-it-may-contain-rocks/
| 2023-07-31T20:47:18
| 0
|
https://www.wibw.com/2023/07/31/trader-joes-falafel-recalled-because-it-may-contain-rocks/
|
Climate change has been an important issue for President Joe Biden since the beginning of his administration. And while a majority of Americans agree that we need to work to reduce global warming, the partisan divide surrounding climate change is growing.
"I don't think anybody can deny the impact of climate change anymore," Biden said during a press conference on extreme heat.
Amid a sizzling hot summer, Biden announced new actions to combat extreme heat and drought. It comes as Americans across the country are feeling first-hand evidence of the changing climate.
"All of these kinds of events are really starting to literally hit home. And many Americans are starting to go, 'Oh my God, this isn't distant in time and space. This is happening right now. And we need to act,'" said Anthony Leiserowitz, the director of the Yale Program on Climate Change Communication.
SEE MORE: Extreme heat expected to be costly, especially in Texas
According to polling from the Pew Research Center,a majority of Americans, 54%, think climate change is a major threat, but there's also a stark partisan divide. Over last 15 years, the percent of Democrats who say climate change is a major threat has gone up, while that answer went down among Republicans.
That partisan impact means politicians aren't the best messengers for climate change. But experts say new voices are stepping up to raise alarm about the warming planet in an impactful way.
"We're now seeing doctors and nurses talking about how climate change is showing up in their emergency room and in the waiting room. We're hearing from faith leaders saying our religion, Christianity, Judaism, Buddhism, Islam, all of these major leaders have said climate change is a fundamental moral issue that we must address as religious people," said Leiserowitz.
Local meteorologists can be some of the most effective messengers for climate change, and the White House appears to recognize that. The vice president's office has reached out to local weather forecasters to start a discussion on best practices for talking about climate change and its impact.
Trending stories at Scrippsnews.com
|
https://www.kivitv.com/despite-rising-concerns-climate-change-is-still-a-partisan-issue
| 2023-07-31T20:47:19
| 0
|
https://www.kivitv.com/despite-rising-concerns-climate-change-is-still-a-partisan-issue
|
ANAHEIM, Calif. (AP) — The Los Angeles Angels reacquired slugger C.J. Cron and outfielder Randal Grichuk in a trade with the Colorado Rockies on Sunday, bolstering their injury-plagued roster with more veteran depth as they fight for a playoff spot.
Los Angeles sent minor league pitchers Mason Albright and Jake Madden to the Rockies in the deal that brought two former Angels first-round draft picks back to the team. Colorado also is sending $3,701,613 along with Cron and Grichuk, who are in the final years of their contracts before free agency. Cron is owed $2,540,323 in remaining salary and Grichuk $3,161,290, leaving the Angels in effect responsible for $2 million.
The Angels (55-51) are desperate to end their MLB-worst streaks of seven consecutive losing seasons and eight consecutive non-playoff seasons, but their efforts have been endangered by injuries that have seriously compromised their big league depth.
Los Angeles has a major league-leading 17 players on its injured lists after outfielder Taylor Ward joined the group Sunday before an extra-inning victory in Toronto. Ward was moved to the 60-day injured list later in the day, effectively ending his regular season, with facial fractures after Toronto’s Alek Manoah hit him in the face with a fastball on Saturday.
The 33-year-old Cron spent his first four major league seasons with Los Angeles, hitting 59 of his 186 career homers before getting traded to Tampa Bay in early 2018 for prospect Luis Rengifo, who is still a valuable contributor to the Angels. Cron is batting .260 with 11 homers and 32 RBIs this season for the Rockies as their power-hitting first baseman.
Grichuk was selected by the Angels one pick before Mike Trout in the 2009 draft. Los Angeles traded him to St. Louis before he reached the majors and began a 10-year career with the Cardinals, Toronto and Colorado.
Grichuk is batting .308 with an .861 OPS in 64 games this season for the Rockies. His positional flexibility in the outfield will be valuable for the Angels in the injury absences of Trout, Ward and Jo Adell, leaving Mickey Moniak and Hunter Renfroe as the only healthy outfielders on Los Angeles’ 40-man roster.
Grichuk is making just over $10.3 million this season, while Cron is earning $7.25 million. The moves continue the Rockies’ teardown for the final two months of what’s almost certain to be their fifth consecutive losing season.
The 20-year-old Albright is 11-8 with a 5.36 ERA in three seasons in the low minors. The 21-year-old Madden, a fourth-round pick in 2022, is 2-6 with a 5.46 ERA in 14 starts for Low-A Inland Empire this season.
The Angels have traded a significant amount of minor league talent in recent weeks in their determined effort to make the playoffs during the final season of Shohei Ohtani’s contract.
Los Angeles has acquired six veteran major leaguers — slugger Mike Moustakas, right-handed starter Lucas Giolito, reliever Reynaldo López and infielder Eduardo Escobar along with Cron and Grichuk — in four separate trades since late June.
Trout has been out since July 3 with a broken hand, and third baseman Anthony Rendon was sidelined one day later with a bone bruise after fouling a ball off his shin. Trout and Rendon are making roughly $75 million combined this season.
Ward and veteran infielder Gio Urshela are likely out for the season, while infielder Brandon Drury, rookie catcher Logan O’Hoppe and rookie shortstop Zach Neto have all missed significant time.
Los Angeles is in third place in the AL West, five games behind Texas. The Angels are four games behind Toronto for the final AL wild card, but the Red Sox and Yankees are also between them.
___
AP MLB: https://apnews.com/hub/MLB and https://twitter.com/AP_Sports
|
https://fox59.com/sports/ap-sports/ap-angels-acquire-c-j-cron-randal-grichuk-in-trade-with-colorado-for-2-minor-leaguers/
| 2023-07-31T20:47:20
| 1
|
https://fox59.com/sports/ap-sports/ap-angels-acquire-c-j-cron-randal-grichuk-in-trade-with-colorado-for-2-minor-leaguers/
|
2025 Cruises and Cruisetours from Alaska's Leading Cruise Line
on Sale August 3
Family Favorite Caribbean Princess to Sail Alaska for First Time
SANTA CLARITA, Calif., July 31, 2023 /PRNewswire/ -- Princess Cruises has unveiled its 2025 Alaska cruise and cruisetours season, featuring three captivating roundtrip itineraries and an exclusive new National Parks Cruisetour. These remarkable offerings are available for booking starting August 3.
New Adventures and Extended Journeys Await, including a Departure from LA:
New for 2025 from the cruise line that brings the most guests to Alaska every year is a 22-day roundtrip voyage sailing from San Francisco on Ruby Princess that coincides with the Summer Solstice, and a 17-day roundtrip cruise from Seattle on Grand Princess featuring three days of scenic glacier viewing. For guests seeking to sail from Southern California, a new 16-day roundtrip Inside Passage voyage from Los Angeles on Grand Princess offers a convenient and affordable option.
National Parks Cruisetour
Following its debut in 2024, the National Parks Cruisetour returns in 2025 with a 15-night adventure to five of Alaska's most breathtaking parks. Guests will have the opportunity to explore Glacier Bay, Denali, Wrangell-St. Elias, Kenai Fjords National Parks, and Klondike Gold Rush National Historical Park in Skagway. Unique to Princess, this experience combines a seven-day Voyage of the Glaciers cruise, scenic rail travel, and multiple days on land, including stays at four Princess-owned wilderness lodges.
"As the market leader in Alaska, we're excited to offer guests even more exciting ways to see the natural beauty of Alaska with itineraries in 2025 that serve up new adventures and extended journeys that first-time guests and repeat visitors are going to find intriguing," said John Padgett, Princess Cruises president. "We're also making it easier for guests to access an Alaska cruise by bringing back a roundtrip option out of Los Angeles, which also make it more affordable for millions within that drive market."
Caribbean Princess to Debut in Alaska in 2025
In 2025, seven Princess ships will sail to Alaska, including Caribbean Princess for the first time. In addition, the number of Princess homeports offering Alaska voyages expands to five with the addition of Los Angeles, with the season featuring 21 cruise destinations and four glacier-viewing experiences, highlighted by 88 visits to Glacier Bay National Park, taking more guests to this spectacular national park than any other cruise line.
With 155 total departures on 18 unique itineraries ranging in length from 4 to 22 days, cruise and cruisetour choices include:
Cruises – Seven Ships, Five Homeports
- NEW! Ultimate Alaska Solstice with Glacier Bay National Park: 22-day roundtrip from San Francisco on Ruby Princess – departs June 6, 2025
- NEW! Ultimate Alaska with Glacier Bay National Park: 17-day roundtrip from Seattle on Grand Princess – departs May 6, 2025
- Inside Passage with Glacier Bay National Park: 16-day roundtrip from Los Angeles on Grand Princess visiting Juneau, Skagway, Glacier Bay National Park, Sitka, Icy Strait Point, Ketchikan and Victoria, B.C. – departs August 30, 2025
- Voyage of the Glaciers: This top-rated seven-day itinerary features Juneau, Skagway, Ketchikan, and two glacier-viewing experiences at Glacier Bay National Park and Hubbard Glacier or College Fjord. Caribbean Princess, Coral Princess, and Sapphire Princess offer weekly northbound and southbound cruises from Vancouver, B.C. to Anchorage (Whittier) and vice versa. Guests can combine select seven-day voyages for an amazing 14-day Voyage of the Glaciers Grand Adventure – operates May 10 to September 13, 2025.
- Inside Passage: Princess' signature seven-day roundtrip sailings from Seattle and Vancouver, B.C., as well as 11-day roundtrip departures from San Francisco and Vancouver that include four ports of call and a day of glacier viewing. Many Inside Passage cruises include Glacier Bay National Park. Discovery Princess and Royal Princess sail from Seattle weekly, May 4 – September 21, 2025. Grand Princess offers weekly cruises from Vancouver, B.C., May 27 – August 19, 2025. Ruby Princess sails 11-day cruises roundtrip from San Francisco May 4 – September 13, 2025.
- Alaska Samplers: Three itineraries of four to five days offer shorter voyages for guests looking for a quick getaway. Discovery Princess, Royal Princess and Grand Princess operate four-day, roundtrip voyages between Vancouver, B.C. to Seattle with a stop in Ketchikan – departing April 30, May 13 and May 23, 2025. Caribbean Princess sails a four-day, roundtrip cruise from Vancouver, B.C., with a visit to Ketchikan departing September 13, 2025, and a five-day roundtrip cruise from Vancouver, B.C., with stops in Sitka and Ketchikan sailing May 5, 2025.
Cruisetours
- More than 26 cruisetour options give guests variety of choice with four styles of travel including Denali Explorer tours, On Your Own options, Connoisseur Deluxe Escorted and Off the Beaten Path.
- The exclusive Direct-to-the-Wilderness rail service ensures a seamless transition between the ship in Whittier and the Denali area on the same day.
Award-Winning North to Alaska Program
Princess' award-winning North to Alaska program enriches the onboard and onshore experience with local lumberjacks, Iditarod champions, and storytellers sharing their Alaska experiences and insights. Other offerings include Wild for Alaska seafood menus, a variety of shore excursions, Puppies in the Piazza to meet sled-dog puppies, Junior Ranger program for youth, and authentic commentary by Glacier Bay Park Rangers and Naturalists.
Visit www.princess.com/alaska for more details on the 2025 Alaska cruises and cruisetours season from Princess Cruises.
Additional information about Princess Cruises is available through a professional travel advisor, by calling 1-800-Princess (1-800-774-6237) or by visiting www.princess.com.
About Princess Cruises
Princess Cruises is The Love Boat, the world's most iconic cruise brand that delivers dream vacations to millions of guests every year in the most sought-after destinations on the largest ships that offer elite service personalization and simplicity customary of small, yacht-class ships. Well-appointed staterooms, world class dining, grand performances, award-winning casinos and entertainment, luxurious spas, imaginative experiences and boundless activities blend with exclusive Princess MedallionClass service to create meaningful connections and unforgettable moments in the most incredible settings in the world - the Caribbean, Alaska, Panama Canal, Mexican Riviera, Europe, South America, Australia/New Zealand, the South Pacific, Hawaii, Asia, Canada/New England, Antarctica, and World Cruises. The company is part of Carnival Corporation & plc (NYSE/LSE:CCL; NYSE:CUK).
View original content to download multimedia:
SOURCE Princess Cruises
|
https://www.wbtv.com/prnewswire/2023/07/31/national-parks-cruisetour-longer-adventures-new-itineraries-highlight-princess-cruises-2025-alaska-season/
| 2023-07-31T20:47:21
| 0
|
https://www.wbtv.com/prnewswire/2023/07/31/national-parks-cruisetour-longer-adventures-new-itineraries-highlight-princess-cruises-2025-alaska-season/
|
Total new annualized premiums up 11%; strong capital position
CARMEL, Ind., July 31, 2023 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) today reported net income of $73.7 million, or $0.64 per diluted share, in 2Q23 compared to $233.3 million, or $1.99 per diluted share, in 2Q22. Net operating income (1) was $62.3 million, or $0.54 per diluted share, in 2Q23 compared to $135.1 million, or $1.15 per diluted share, in 2Q22.
"Production was strong in both our Consumer and Worksite Divisions, with notable sales increases in Life, Medicare Supplement and Supplemental Health, driven by continued growth in producing agent counts," said Gary C. Bhojwani, chief executive officer.
"Variable investment income results improved sequentially, yet reflect a tough comparable in the second quarter of 2022 when results reached a five-year high. Health claims impacted our results in the quarter. We expect this elevated claims experience to moderate in the second half of the year, based on leading indicators. Our long-term view of the Health business remains positive."
"New money rates were once again strong in the quarter at 6.34%, which drove continued improvement in the earned yield on investments allocated to insurance products. Our consolidated risk based capital (RBC) ratio of 386% was comfortably above our target as was our holding company liquidity of $176 million. Free cash flow generation in the quarter was robust."
Second Quarter 2023 Highlights (as compared to the corresponding period in the prior year where applicable)
- Total Health insurance new annualized premiums ("NAP") (4) up 15%; total Life insurance NAP up 8%
- Medicare Supplement NAP up 29%; Consumer Division field agent-sold Life insurance NAP up 20%
- Consumer Division field producing agent count up 8%; Worksite Division producing agent count up 32%
- Returned $47.4 million to shareholders
- Book value per share was $17.56; book value per diluted share, excluding accumulated other comprehensive loss,(2) was $32.34
- Return on equity ("ROE") of 14.8%; operating ROE, as adjusted,(6) of 8.0%
Adoption of New Accounting Standard
As previously disclosed, we adopted ASU 2018-12 related to targeted improvements to the accounting for long-duration insurance contracts effective January 1, 2023. We selected the modified retrospective transition method except for market risk benefits where we were required to use the full retrospective approach. All prior periods presented herein have been recast in accordance with the new standard. As a result of the adoption of the new guidance, shareholders' equity as of December 31, 2022, increased $368.0 million and was comprised of increases to retained earnings and accumulated other comprehensive income (loss) of $232.2 million and $135.8 million, respectively. Net income and operating earnings (1) for the second quarter of 2022 increased $97.2 million and $35.0 million, respectively. Concurrent with the adoption of the new guidance, we also updated the method of determining non-operating earnings for our fixed indexed annuities to better isolate the volatile non-economic accounting impacts of that line of business.
INSURANCE OPERATIONS
Annuity products accounted for 26 percent of the Company's margin for the quarter and annuity premiums collected decreased 8 percent in 2Q23 compared to 2Q22.
Health products accounted for 48 percent of the Company's insurance margin for the quarter and 63 percent of insurance policy income.
Life products accounted for 26 percent of the Company's insurance margin for the quarter and 36 percent of insurance policy income.
Sales of health products were up 15 percent and sales of life products were up 8 percent in 2Q23 compared to 2Q22.
Total allocated expenses were $149.5 million, down 2 percent from 2Q22.
____________________
____________________
The fair value of CNO's available for sale fixed maturity portfolio was $21.0 billion compared with an amortized cost of $23.6 billion. Net unrealized losses were comprised of gross unrealized gains of $106.1 million and gross unrealized losses of $2,710.8 million. The allowance for credit losses was $66.1 million at June 30, 2023.
At both amortized cost and fair value, 94 percent of fixed maturities, available for sale, were rated "investment grade".
Non-Operating Items
Net investment losses in 2Q23 were $31.3 million including the unfavorable change in the allowance for credit losses of $9.9 million which was recorded in earnings. Net investment losses in 2Q22 were $27.1 million including the unfavorable change in the allowance for credit losses of $23.7 million which was recorded in earnings.
During 2Q23 and 2Q22, we recognized a decrease in earnings of $4.0 million and $21.7 million, respectively, due to the net change in market value of investments recognized in earnings.
During 2Q23 and 2Q22, we recognized an increase in earnings of $50.4 million and $160.6 million, respectively, resulting from changes in the estimated fair value of embedded derivative liabilities and market risk benefits related to our fixed indexed annuities. Such amounts include the impacts of changes in market interest rates and equity impacts used to determine the estimated fair values of the embedded derivatives and market risk benefits.
In 2Q22, other non-operating items included an increase in earnings of $14.0 million for the mark-to-market change in the agent deferred compensation plan liability which was impacted by changes in the underlying actuarial assumptions used to value the liability. We recognize the mark-to-market change in the estimated value of this liability through earnings as assumptions change.
Statutory (based on non-GAAP measures) and GAAP Capital Information
Our consolidated statutory risk-based capital ratio was estimated at 386% at June 30, 2023, reflecting estimated 2Q23 statutory operating income of $37 million (and $76 million in the first six months of 2023) and the payment of insurance company dividends (net of capital contributions) to the holding company of $40.5 million during 2Q23 (and $74.7 million in the first six months of 2023).
During 2Q23, we repurchased $30.0 million of common stock under our securities repurchase program (including $0.9 million of repurchases settled in 3Q23). We repurchased 1.4 million common shares at an average cost of $22.28 per share. As of June 30, 2023, we had 113.7 million shares outstanding and had authority to repurchase up to an additional $641.8 million of our common stock. During 2Q23, dividends paid on common stock totaled $17.4 million.
Unrestricted cash and investments held by our holding company were $176 million at June 30, 2023, compared to $167 million at December 31, 2022.
Book value per common share was $17.56 at June 30, 2023 compared to $15.47 at December 31, 2022. Book value per diluted share, excluding accumulated other comprehensive income (loss) (2), was $32.34 at June 30, 2023, compared to $31.89 at December 31, 2022.
The debt-to-capital ratio was 36.3 percent and 39.2 percent at June 30, 2023 and December 31, 2022, respectively. Our debt-to-total capital ratio, excluding accumulated other comprehensive income (loss) (3) was 23.4 percent at both June 30, 2023 and December 31, 2022.
Return on equity for the trailing four quarters ended June 30, 2023 and 2022, was 14.8% and 20.9%, respectively. Operating return, excluding significant items, on equity, excluding accumulated other comprehensive income (loss) and net operating loss carryforwards (6) for the trailing four quarters ended June 30, 2023 and 2022, was 8.0% and 12.7%, respectively.
In this news release, CNO includes non-GAAP measures to enhance investors' understanding of management's view of the business. The non-GAAP measures are not a substitute for GAAP, but rather a supplement to increase transparency by providing broader perspective. CNO's definitions of non-GAAP measures may differ from other companies' definitions. More detailed information including various GAAP and non-GAAP measurements are located at CNOinc.com in the Investors section under SEC Filings.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements within the meaning of federal securities laws. These prospective statements reflect management's current expectations, but are not guarantees of future performance. Accordingly, please refer to CNO's cautionary statement regarding forward-looking statements, and the business environment in which the Company operates, contained in the Company's Form 10-K for the year ended December 31, 2022 and any subsequent Form 10-Q or Form 10-K on file with the Securities and Exchange Commission and on the Company's website at CNOinc.com in the Investors section. CNO specifically disclaims any obligation to update or revise any forward-looking statement because of new information, future developments or otherwise.
EARNINGS RELEASE CONFERENCE CALL WEBCAST:
The Company will host a conference call to discuss results on August 1, 2023 at 11:00 a.m. Eastern Time. During the call, we will be referring to a presentation that will be available at the Investors section of the company's website.
To participate by dial-in, please register at https://www.netroadshow.com/events/login?show=5ac4628b&confId=53584. Upon registering, you will be provided with call details and a registrant ID used to track attendance on the conference call. Reminders will also be sent to registered participants via email.
For those investors who prefer to listen to the call online, we will be broadcasting the call live via webcast. The event can be accessed through the Investors section of the company's website: ir.CNOinc.com. Participants should go to the website at least 15 minutes before the event to register and download any necessary audio software.
ABOUT CNO FINANCIAL GROUP
CNO Financial Group, Inc. (NYSE: CNO) secures the future of middle-income America. CNO provides life and health insurance, annuities, financial services, and workforce benefits solutions through our family of brands, including Bankers Life, Colonial Penn, Optavise and Washington National. Our customers work hard to save for the future, and we help protect their health, income and retirement needs with 3.2 million policies and $34 billion in total assets. Our 3,400 associates, 4,600 exclusive agents and 4,000 independent partner agents guide individuals, families and businesses through a lifetime of financial decisions. For more information, visit CNOinc.com.
___________
___________
___________
___________
View original content:
SOURCE CNO Financial Group, Inc.
|
https://www.kxii.com/prnewswire/2023/07/31/cno-financial-group-reports-second-quarter-2023-results/
| 2023-07-31T20:47:21
| 0
|
https://www.kxii.com/prnewswire/2023/07/31/cno-financial-group-reports-second-quarter-2023-results/
|
DUBAI, United Arab Emirates (AP) — A state-run oil giant in the United Arab Emirates said Monday it has moved up its target for achieving net zero emissions in its operations to 2045, as the country prepares to host U.N. climate talks later this year.
The Abu Dhabi National Oil Company, known as ADNOC, said it is also committed to acheiving zero methane emissions by 2030. Methane is a greenhouse gas that is 80 times more potent than carbon dioxide in the short term.
Earlier this year, ADNOC earmarked $15 billion for an array of green initiatives, including the development of hydrogen power, carbon capture facilities and the planting of mangroves.
The company had previously committed to net zero — the balancing of greenhouse gas emissions to the point that the amount removed from the atmosphere is equal to the amount emitted — by 2050.
The UAE, an OPEC member that produces over 3 million barrels of crude oil a day, will host the global climate talks known as COP28 from Nov. 30 to Dec. 12 in Dubai. It has appointed Sultan al-Jaber, the head of ADNOC, to chair the meeting, a move that drew criticism from some environmentalists.
Al-Jaber has emphasized the need to cut emissions, rather than end fossil fuel use itself. It’s prompted fears that he might seek loopholes for untested carbon-capture technologies and so-called offsets that experts say distract from the need to end the release of greenhouse gases.
Governments agreed eight years ago in Paris to limit global warming to 2 degrees Celsius (3.6 Fahrenheit) — ideally no more than 1.5C (2.7F). With average global temperatures already about 1.2C (2.2F) above pre-industrial levels, experts say the window to meet the more ambitious target is closing fast and even the less stringent goal would be missed if emissions aren’t slashed sharply soon.
The UAE, a global hub for business and tourism, has pledged to be carbon neutral by 2050 — a target that remains difficult to assess and one that authorities haven’t fully explained how they’ll reach. Analysts believe the Emirates is trying to maximize its profits as the world turns to renewables.
|
https://www.yourbasin.com/news/international/ap-uae-state-oil-firm-moves-up-net-zero-climate-target-to-2045/
| 2023-07-31T20:47:23
| 1
|
https://www.yourbasin.com/news/international/ap-uae-state-oil-firm-moves-up-net-zero-climate-target-to-2045/
|
ATLANTA, July 31, 2023 /PRNewswire/ -- The Aaron's Company, Inc. (NYSE: AAN) today released its second quarter 2023 financial results. Complete financial results are available at investor.aarons.com. Highlights of those results are included below and in the attached supplement.
Second Quarter 2023 Consolidated Results1:
- Revenues were $530.4 million, a decrease of 13.1%
- Net earnings were $6.5 million, an increase of 222.0%; Non-GAAP net earnings2 were $12.2 million, a decrease of 50.6%
- Adjusted EBITDA2,3 was $42.4 million, a decrease of 17.0%
- Diluted EPS was $0.21; Non-GAAP diluted EPS2 was $0.39
- Write-offs were 5.4% in the Aaron's Business, an improvement of 30 basis points
- Reduced debt $36.1 million in the quarter and $124.3 million since the prior year quarter-end
- Updates 2023 full year outlook; lowers revenues, maintains adjusted EBITDA, and increases adjusted free cash flow
Second Quarter 2023 Key Items:
The Aaron's Company
- Earnings were ahead of internal expectations largely due to ongoing expense controls, despite lower revenues in both business segments
- Ended the quarter with cash and cash equivalents of $38.4 million and debt of $186.1 million, resulting in a net debt2 reduction of $30.2 million in the quarter primarily due to strong cash provided by operating activities
Aaron's Business
- Earnings before income taxes were $30.8 million; adjusted EBITDA was $49.5 million, which exceeded internal expectations and increased 3.0% as compared to the prior year quarter primarily due to lower total operating expenses and lower write-offs
- Personnel and other operating expenses benefited from cost optimization initiatives and ongoing investments in technology platforms and marketing analytics
- Ended the quarter with 230 GenNext stores, 101 hubs, and 101 showrooms
- GenNext stores accounted for approximately 29% of lease revenues & fees and retail sales
- E-commerce revenues increased 5.5% as compared to the prior year quarter and represented 17.9% of lease revenues
BrandsMart
- Earnings before income taxes were $1.1 million; adjusted EBITDA was $4.5 million, which exceeded internal expectations despite lower revenues due to continued pressure on customer demand
- Began construction on first new BrandsMart store planned to open in Augusta, GA in Q4 2023
The Company will host an earnings conference call tomorrow, August 1, 2023, at 8:30 a.m. ET. Chief Executive Officer Douglas A. Lindsay will host the call along with President Steve Olsen and Chief Financial Officer C. Kelly Wall. A live audio webcast of the conference call and presentation slides may be accessed at investor.aarons.com and the hosting website at https://events.q4inc.com/attendee/457512107. A transcript of the webcast will also be available at investor.aarons.com.
About The Aaron's Company, Inc.
Headquartered in Atlanta, The Aaron's Company, Inc. (NYSE: AAN) is a leading, technology-enabled, omnichannel provider of lease-to-own and retail purchase solutions of appliances, electronics, furniture, and other home goods across its brands: Aaron's, BrandsMart U.S.A., BrandsMart Leasing, and Woodhaven. Aaron's offers a direct-to-consumer lease-to-own solution through its approximately 1,260 Company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform. BrandsMart U.S.A. is one of the leading appliance retailers in the country with ten retail stores in Florida and Georgia, as well as its e-commerce platform. BrandsMart Leasing offers lease-to-own solutions to customers of BrandsMart U.S.A. Woodhaven is the Company's furniture manufacturing division. For more information, visit investor.aarons.com, aarons.com, and brandsmartusa.com.
View original content to download multimedia:
SOURCE The Aaron’s Company, Inc.
|
https://www.wibw.com/prnewswire/2023/07/31/aarons-company-inc-reports-second-quarter-2023-financial-results-updates-full-year-outlook/
| 2023-07-31T20:47:24
| 0
|
https://www.wibw.com/prnewswire/2023/07/31/aarons-company-inc-reports-second-quarter-2023-financial-results-updates-full-year-outlook/
|
As school starts to get underway across the U.S. in the coming weeks, many students and teachers will undergo mass shooting drills.
These types of drills have become more popular in recent years due to a number of notable mass shooting incidents at schools throughout the U.S.
While many experts say it's important to be prepared for such incidents, there are concerns that some drills can also cause psychological harm.
SEE MORE: Back-to-school spending higher as sales of electronics rise
Do drills work?
A study published in 2022 in the Journal of School Violencesaid schools that successfully implemented lockdowns had 60% fewer total casualties, with 79% reductions in victims pronounced dead at the scene, even after controlling for other variables during shooting incidents.
Other studies have shown similar results, reaffirming that successful lockdowns reduce casualties.
"There has never been a case where an armed assailant has, you know, breached a locked classroom door. When they've gotten in, it was either unlocked or they were able to like, shoot through glass, like a glass window and get in," said Franci Crepeau-Hobson, training director with the Colorado School Psychology Internship Consortium. "So knowing that kind of informed this idea in part that standard lockdown procedures are effective."
But experts expressed concerns that higher-intensity drills might lead to more harm than good.
One popular program is ALICE Training, which involves training that reportedly goes beyond lockdown-only drills.
"In the chaos of a violent critical incident, every second counts, and ALICE strategies equip civilians with life-saving options that go beyond the traditional and inadequate lockdown-only response," ALICE Training said in a press release.
Representatives for ALICE Training could not be reached for comment. The company's website said it uses "age-appropriate" training for students. Part of that training includes teaching kids how to distract assailants during incidents.
The training has been used at 5,500 schools across the U.S., Alice Training says.
SEE MORE: Secrets to save on back-to-school clothes and other items
Psychological impacts
It is when drills go beyond preparing for lockouts that concerns some experts. Of particular concern are when drills are done without any advanced warning.
"I guess you can kind of imagine that would be traumatic for a child to go through," said Crepeau-Hobson. "I mean, people thought they were gonna die and there was actual trauma. It was that it was that kind of harm that we were really concerned about and also, you know, engaging in, practices that there's no evidence that says these are actually helpful in terms of increasing school safety."
Dr. David J. Schonfeld, who directs the National Center for School Crisis and Bereavement, echoes Crepeau-Hobson's concerns. He said oftentimes trainings are done from the perspective of first responders who may not fully understand child development when developing their training.
"Children and sometimes the staff are not informed or aware that it's actually an exercise and feel that it is a real event," Schonfeld said. "This is a kind of extreme way to, to bring realism to the drill and it obviously can have significant emotional distress because the individual feels they're actually under attack."
Schonfeld said some of these drills can become way too realistic for young kids to handle.
"There really are simulations that are meant to mimic the actual advance, but they don't, they don't require deception, but they try and recreate the experience of being in an active shooter drill to varying degrees," he said. "So that might mean that they use actual weapons, they might use the sound of gunshots, hopefully blanks, as opposed to live ammunition. They will have individuals that maybe have makeup, to kind of mimic wounds or to mimic blood, they would have predatory and aggressive acting.
"So they might have someone not just go and check to see if the door knobs are locked in the various classrooms, but act as if they're trying to get into the door in a way that, you know, simulates someone who's actually trying to break in. And so we feel that those kind of exercises and drills are not necessary."
Tips for parents, teachers
With many students going through lockdown and active shooter trainings in the coming weeks, Crepeau-Hobson said there are a few things parents and teachers should be looking for.
For instance, there are questions parents can ask of administrators.
"I would ask, you know, is there a specific program you're using? Have the adults been trained? Is there evidence that this works? Have the kids been informed? Have the staff been informed? I'm assuming they would if the parents know what have you told the kids about it? Have you explained what's going to happen? Have you explained why you do this?" Crepeau-Hobson said.
"Because we know when we have those conversations with kids and explain this is why we do these drills, that actually helps to increase perceptions of safety and security."
Teachers may also have to deal with questions about drills immediately after such trainings.
"We can typically identify kids who might have a harder time, maybe kids who already have special needs or they have some kind of mental health challenge or something going on," Crepeau-Hobson said said. "And so we might be particularly careful with them, but if we do it right and we talk about it ahead of time, then we have a chance to talk about it afterwards, telling teachers it's OK to process it with your kids."
Schonfeld also suggests that educators understand children may not always be forthright with showing their feelings after such drills.
"I do think teachers if they're empathic and supportive can convey a culture or climate in a classroom where kids know they can come forward and talk to them and or talk to others in the school if they have distress from things that have happened or are happening in their lives, but we can't assume that they're going to disclose 100% of those experiences or feelings," he said.
Trending stories at Scrippsnews.com
|
https://www.kivitv.com/do-some-school-active-shooting-drills-do-more-harm-than-good
| 2023-07-31T20:47:25
| 1
|
https://www.kivitv.com/do-some-school-active-shooting-drills-do-more-harm-than-good
|
ENGLEWOOD, Colo. (AP) — The Denver Broncos braced themselves for a second straight season without their steadiest wide receiver and locker room leader after Tim Patrick was carted off the field with a left Achilles injury Monday — almost a year after tearing his right ACL at training camp.
“It’s a tough break for us as a team when you see something like that, a great player, a great leader,” cornerback Patrick Surtain II said. “We wish him the best and just go on from there.”
With an energized crowd of 3,000 looking on as the Broncos practiced in full pads for the first time, Patrick hit the ground in pain just as he came out of his cut on a short route during a seven-on-seven passing drill. He threw his helmet as teammates including Courtland Sutton and Russell Wilson rushed to his side.
The injury happened right in front of head coach Sean Payton, who was watching Patrick make an adjustment from a previous route.
“It’s always difficult, especially a guy like that’s a leader who’s coming off an entire year of rehabilitation,” Payton said. ”It’s difficult for his teammates, for all of us. So, maybe, hopefully we get some good news. But it appears it’s his left Achilles.”
After being carted off, Patrick entered the Broncos facility on crutches, keeping weight off his left leg.
Patrick is known for his strong work ethic and no-nonsense approach. He was one of the more notable finds by the Broncos in recent years.
Undrafted out of Utah in 2017, Patrick bounced around the Ravens’ and 49ers’ practice squads before arriving in Denver later that year. He became a contributor in 2018 and ’19 before posting back-to-back productive seasons that earned him a three-year, $34.5 million contract extension in November 2021.
He was the team’s No. 1 receiver going into last season when he tore his right ACL in a noncontact drill on Aug. 2. Two months later the Broncos lost their top running back when Javonte Williams suffered a knee injury and Denver’s offense never recovered from the one-two punch, averaging a league-worst 16.9 points a game in Wilson’s first year in Denver.
Like Williams, Patrick was looking for a big comeback in 2023 atop the receiver rotation alongside Sutton and Jerry Jeudy.
“When I got hired here, he was one of the guys I saw every day because he was rehabbing last year’s injury,” Payton said. “So, that’s what makes it more difficult.”
The Broncos do appear to be in better position to weather the loss of Patrick this year if the injury proves to be as serious as suspected.
They bolstered their receiver room, chiefly by drafting speedster Marvin Mims Jr. out of Oklahoma in the second round and signing veterans Marquez Callaway and Lil’Jordan Humphrey in free agency.
“We’ve just got great guys all around the receiving room, so obviously next man up situation,” Surtain said. “But Tim is a big loss, a big blow, because he brings such a presence out there on the field that many people can’t compare to.”
Mims pulled a hamstring in June and suffered a setback before camp, but Monday marked his first practice of camp and Payton was encouraged: “He’s feeling good. You’re going to see him more and more this week. He’s ramping up and we’re encouraged.”
However, another receiver, KJ Hamler, who is on the mend from a torn chest muscle, posted on Instagram on Monday that he was diagnosed with the heart condition pericarditis “after feeling some chest pains while working out on the break before camp started.” He vowed to return to the field as soon as he could “better and stronger than ever.”
Notes: Payton had no comment about Aaron Rodgers’ spirited defense of Jets OC Nathaniel Hackett after Payton ripped him last week for his poor head coaching job in Denver last year. “No, we’re past it,” said Payton, who did a mea culpa last week, saying he regretted criticizing Hackett, the Jets and members of the Broncos’ front office in trying to spread the blame for Wilson’s career-worst season in 2022 during an interview with USA Today.
___
AP NFL: https://apnews.com/hub/nfl and https://twitter.com/AP_NFL
|
https://fox59.com/sports/ap-sports/ap-broncos-receiver-tim-patrick-carted-off-field-with-right-leg-injury/
| 2023-07-31T20:47:26
| 0
|
https://fox59.com/sports/ap-sports/ap-broncos-receiver-tim-patrick-carted-off-field-with-right-leg-injury/
|
ST. LOUIS, July 31, 2023 /PRNewswire/ -- Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, today reported that it set a new quarterly record for net sales in the second quarter of 2023.
Graybar's net sales for the second quarter of this year totaled $2.8 billion, an increase of 4.5% compared to the same period last year. Net income attributable to Graybar for the quarter finished at $124.2 million, a 2.7% decrease from the second quarter of 2022.
For the first half of 2023, the company reported net sales of $5.5 billion, an 8.1% increase compared to the same period last year. Net income attributable to Graybar for the first six months of 2023 increased 8.4% to $249.0 million.
"Thanks to the hard work of our employees, we continue to achieve positive results," said Kathleen M. Mazzarella, chairman, president and chief executive officer of Graybar. "We remain focused on providing exceptional service to our customers every day, while we make strategic investments to transform our business and strengthen our long-term position as an industry leader."
Graybar, a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, communications and data networking products, and specializes in related supply chain management and logistics services. Through its network of more than 325 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network, automate and secure their facilities with speed, intelligence and efficiency. For more information, visit www.graybar.com or call 1-800-GRAYBAR.
Media Contact:
Tim Sommer
(314) 578-7672
timothy.sommer@graybar.com
View original content to download multimedia:
SOURCE Graybar
|
https://www.kxii.com/prnewswire/2023/07/31/graybar-achieves-record-net-sales-second-quarter/
| 2023-07-31T20:47:28
| 0
|
https://www.kxii.com/prnewswire/2023/07/31/graybar-achieves-record-net-sales-second-quarter/
|
Celebrate the Blooms with Inaugural National Sunflower Day on August 5
BISMARCK, N.D., July 31, 2023 /PRNewswire/ -- In late July and into August, vast fields of brilliant yellow sunflowers blanket North Dakota during the peak growing season and visitors are awed by the landscape awash in summery hues. This year, North Dakota Tourism invites visitors to celebrate these picturesque fields with the inaugural National Sunflower Day on August 5, 2023.
The National Day Calendar recognition, slated for the first Saturday each August, is a collaboration between the National Sunflower Association and North Dakota Tourism and recognizes the inherent happiness the sunflowers evokes and the prominence of North Dakota's agricultural industry in growing the cheerful blooms.
For visitors planning a picture-perfect road trip for National Sunflower Day and beyond, North Dakota Tourism has launched the state's 2023 Sunflower Blooms Guide detailing the location of more than a dozen stunning sunflower fields. Weekly bloom updates will highlight the progress of the seasonal color as it unfolds across the state making the map a perfect tool for making the most of the waning days of summer. North Dakota Tourism is also making an ideal road trip snack available to visitors with packets of savory sunflower seeds in mailboxes at select fields.
To capture the iconic blooms in photos and videos, keep the following tips in mind:
- In general, visitors are welcome to stop by fields included on the Sunflower Blooms Guide as long as they are respectful and don't enter or drive into the fields.
- Scout the field location early to capture that golden hour image or video just-after sunrise or just-before sunset. Visitors will want to set up early to take advantage of the golden hues.
- Keep in mind that cloudy days are often some of the best times to capture vibrant close-ups and more subtle variations in shadows.
- Tag your photos and videos on social media using #BeNDLegendary to celebrate your love of the sunny blooms.
- Fuel your photoshoot with a beloved North Dakota snack with Fargo's irresistible SunButter made from roasted sunflower seeds or Wahpeton's Giants Snacks with original and kettle roasted flavors of sunflower seeds.
As the top sunflower producing state last year, North Dakota farmers planted 702,000 acres of the beautiful blooms in 2022, and the state is the top producer of edible sunflower seeds in the U.S. More sunflower recipes, videos and little-known facts are available at Brighten Your Day with the Amazing Sunflower. For more on planning a trip to North Dakota, visit NDtourism.com.
Follow North Dakota Tourism on Facebook at www.facebook.com/TravelND, on Instagram at https://www.instagram.com/northdakotalegendary/ on or on Twitter at http://twitter.com/NorthDakota and get tips on what to see and do all year long.
View original content to download multimedia:
SOURCE North Dakota Tourism Division
|
https://www.wbtv.com/prnewswire/2023/07/31/north-dakota-landscape-awash-vibrant-yellow-sunflowers/
| 2023-07-31T20:47:27
| 0
|
https://www.wbtv.com/prnewswire/2023/07/31/north-dakota-landscape-awash-vibrant-yellow-sunflowers/
|
THOUSAND OAKS, Calif., July 31, 2023 /PRNewswire/ -- Amgen (NASDAQ:AMGN) today announced that it will report its second quarter financial results on Thursday, August 3, 2023, after the close of the U.S. financial markets. The announcement will be followed by a conference call with the investment community at 1:30 p.m. PT. Participating in the call from Amgen will be Robert A. Bradway, chairman and chief executive officer, and other members of Amgen's senior management team.
Live audio of the conference call will be simultaneously broadcast over the internet and will be available to members of the news media, investors and the general public.
The webcast, as with other selected presentations regarding developments in Amgen's business given by management at certain investor and medical conferences, can be found on Amgen's website, www.amgen.com, under Investors. Information regarding presentation times, webcast availability and webcast links are noted on Amgen's Investor Relations Events Calendar. The webcast will be archived and available for replay for at least 90 days after the event.
About Amgen
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.
Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.
Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2022, Amgen was named one of the "World's Best Employers" by Forbes and one of "America's 100 Most Sustainable Companies" by Barron's.
For more information, visit Amgen.com and follow us on Twitter, LinkedIn, Instagram, TikTok and YouTube.
CONTACT: Amgen, Thousand Oaks
Jessica Akopyan, 805-440-5721 (media)
Elissa Snook, 609-251-1407 (media)
Arvind Sood, 805-447-1060 (investors)
View original content to download multimedia:
SOURCE Amgen
|
https://www.wibw.com/prnewswire/2023/07/31/amgen-announces-webcast-2023-second-quarter-financial-results/
| 2023-07-31T20:47:30
| 0
|
https://www.wibw.com/prnewswire/2023/07/31/amgen-announces-webcast-2023-second-quarter-financial-results/
|
KYIV, Ukraine (AP) — Russian ballistic missiles slammed into an apartment complex and a university building in President Volodymyr Zelenskyy’s hometown Monday, killing six people and wounding 75 others as the blasts trapped residents beneath rubble, Ukrainian officials said.
One of the two missiles that hit the central city of Kryvyi Rih destroyed part of an apartment building between the fourth and ninth floors, Interior Minister Ihor Klymenko said. Video showed black smoke billowing from corner units and burned out or damaged cars on a tree-lined street.
The dead included a 10-year-old girl and her mother, according to Zelenskyy. More than 350 people were involved in the rescue operation, he said in a Telegram post.
The morning attack also destroyed part of a four-story university building.
The strike on Zelenskyy’s hometown, which has been hit in the past, happened a day after the Ukrainian president seemed to warn of more attacks inside Russia.
“Gradually, the war is returning to the territory of Russia — to its symbolic centers and military bases, and this is an inevitable, natural and absolutely fair process,” Zelenskyy said Sunday in his nightly video address.
It was not clear whether the missile strikes were in retaliation for his comments.
Meanwhile, a Ukrainian artillery strike on the partially occupied Donetsk province killed two people and wounded six others in the regional capital, according to Denis Pushilin, the Moscow-installed leader of the illegally annexed province.
A bus was also hit as Ukrainian forces shelled the city of Donetsk multiple times Monday, Pushilin said.
Elsewhere, in the Russian-held part of the Zaporizhzhia region, three people were killed and 15 were wounded in Ukrainian shelling that hit a store in the village of Basan, according to the Russia-backed acting regional governor, Yevgeny Balitsky.
Neither side’s claims could be independently verified.
The ongoing Ukrainian counteroffensive, deploying weaponry supplied by Western allies and aimed at driving Russian forces out of occupied areas, intensified last week. At the same time, Ukraine has sought to take the war deep into Russia, reportedly using drones to hit targets as far away as Moscow.
Ukrainian drone attacks on Russia and Moscow-annexed territory, especially Crimea, have become more frequent. The latest strike, on Sunday, damaged two office buildings a few miles (kilometers) from the Kremlin. Ukrainian officials did not acknowledge the attack.
Russia tightened security in the aftermath of that attack, Kremlin spokesman Dmitry Peskov said Monday, describing the assault as an “act of desperation.”
“The Kyiv regime is in a very, very difficult situation,” Peskov said, “as the counteroffensive is not working out as planned.”
“It’s obvious that the multibillion-dollar resources that have been transferred by NATO countries to the Kyiv regime are actually being spent inefficiently,” Peskov said.
“This raises big questions in Western capitals and great discomfort among taxpayers in Western countries.”
Analysts say Russian President Vladimir Putin is wagering that Western support for Kyiv will wane as the war drags on and costs mount.
Another Ukrainian drone targeted a district police department early Monday in Russia’s Bryansk region, which borders Ukraine, but there were no casualties, the local governor said.
Bombarding populated areas with missiles, artillery and drones has been a hallmark of Moscow’s military strategy throughout the war, and that approach has continued during the Ukrainian counteroffensive that started in June.
Russian officials insist they take aim only at legitimate military targets, but Ukraine and its supporters say mass civilian deaths during previous attacks are evidence of war crimes.
“In recent days, the enemy has been stubbornly attacking cities, city centers, shelling civilian objects and housing,” Zelenskyy said. “But this terror will not frighten us or break us.”
Russian Defense Minister Sergei Shoigu said Monday that his forces have increased the intensity of attacks on Ukrainian military facilities.
It was not immediately clear which military facilities he was referring to, as Russia’s recent missile strikes have hit civilian infrastructure.
In the southern city of Odesa, Russian strikes in recent weeks targeted port infrastructure and grain silos, after Moscow broke off an export agreement for Ukrainian grain. The Ukrainian foreign ministry estimated Monday that about 180,000 metric tons of grain have been destroyed by Russia in the past nine days.
Russian shelling Monday also killed four civilians and wounded 17 in the southern Ukrainian city of Kherson. A 70-year-old woman was killed by shelling in her home in a Kharkiv province village near Izyum, authorities said.
In eastern Ukraine’s Donetsk province, one person was reported killed and seven people were wounded after Russia shelled 12 cities and villages, according to Gov. Pavlo Kyrylenko.
In other developments Monday, China introduced restrictions on the export of long-range civilian drones. Authorities cited the war in Ukraine and concern that drones could be converted for military purposes.
Chinese leader Xi Jinping’s government is friendly with Moscow, but says it’s neutral in the war. It has been stung by reports that both sides might be using Chinese-made drones for reconnaissance and possibly attacks.
Meanwhile, Russian mercenary leader Yevgeny Prigozhin said Monday that his Wagner Group is not currently recruiting fighters.
In an audio message published on a Telegram channel associated with the Wagner chief, Prigozhin said the company had suspended recruitment as there is currently “no shortage of personnel.”
Prigozhin previously agreed with Western estimates that he lost more than 20,000 men in the long battle for the Ukrainian city of Bakhmut.
Prigozhin last month led a short-lived mutiny against Moscow, demanding a leadership change in the Russian military. In an attempt to control him, Russian authorities insisted that Wagner fighters can only return to Ukraine if they join Russia’s regular army.
___
Follow AP’s coverage of the war in Ukraine at https://apnews.com/hub/russia-ukraine
|
https://www.yourbasin.com/news/international/ap-ukraine-says-russian-missiles-hit-another-apartment-building-and-likely-trapped-people-under-rubble/
| 2023-07-31T20:47:29
| 0
|
https://www.yourbasin.com/news/international/ap-ukraine-says-russian-missiles-hit-another-apartment-building-and-likely-trapped-people-under-rubble/
|
Lori Vallow Daybell was sentenced to life in prison without the possibility of parole Monday for the murders of her two youngest children and conspiring to kill her husband's first wife, bringing a close to the so-called "Doomsday Cult Mom" case.
This is the maximum sentence possible for Vallow Daybell, who had pleaded not guilty to the charges against her in her five-week trial. It ended in May, when a jury unanimously found the Idaho mom guilty of two counts of first-degree murder and conspiracy to commit first-degree murder.
The case centered on bizarre claims Vallow Daybell made about her two kids, 16-year-old Tylee Ryan and 7-year-old Joshua "JJ" Vallow. She and her husband, who justified the murders using religious beliefs, claimed the two kids were "dark" and they were "light" and that she was God's vessel to rid the world of their kind.
Before the sentence was handed down, Vallow Daybell again used religion in her defense. She quoted Bible verses about how people shouldn't judge others while suggesting her dead kids and Tammy Daybell weren't murdered at all.
"Jesus Christ knows that no one was murdered in this case," she said. "Accidental deaths happen. Suicides happen. Fatal side effects from medication happen."
Others who spoke Monday focused on the grief and trauma they feel at the hands of Vallow Daybell, including her estranged oldest son Colby Ryan and Tammy Daybell's sister.
SEE MORE: Lori Vallow Daybell sentencing: Here's what to expect
"Tylee will never have the opportunity to become a mother, wife or have the career she was destined to have. JJ will never be able to grow and spread his light with the world the way he did," the statement said. "I've lost the opportunity to share life with the people I love the most. I have lost my sister, father, brother and my mother. "I pray for healing for everyone involved, including those who took the lives of everyone we loved."
"Why? Why plan something so heinous?" Samantha Gwilliam said. "You are not exalted beings, and your behavior makes you ineligible to be one. Because of the choices you made, my family lost a beloved mother, sister and daughter.”
The two kids were last seen in September 2019, and Tammy Daybell died in October, just weeks before Vallow Daybell married her fifth husband Chad Daybell.
Tammy Daybell's autopsy showed she had been asphyxiated, and her body was bruised. When The children's bodies were found buried in Chad Daybell's yard in the summer of 2020, JJ had also been asphyxiated, and Tylee had been stabbed.
Vallow Daybell now faces two other cases in Arizona, both with a charge of conspiracy to commit murder.
One case centers on conspiring with her brother, Alex Cox, who shot and killed Vallow Daybell's fourth husband, Charles Vallow, in 2019. Cox said he acted in self-defense, and he died of natural causes before being charged.
The other case Vallow Daybell faces involves her niece's ex-husband, who survived a murder attempt the same year.
Vallow Daybell's husband, Chad Daybell, is awaiting trial on the same charges. His trial is expected to begin April 1, 2024.
Trending stories at Scrippsnews.com
|
https://www.kivitv.com/lori-vallow-daybell-sentenced-to-life-in-prison-for-murder-of-2-kids
| 2023-07-31T20:47:31
| 1
|
https://www.kivitv.com/lori-vallow-daybell-sentenced-to-life-in-prison-for-murder-of-2-kids
|
ST. JOSEPH, Mo. (AP) — The Kansas City Chiefs need look no further than last season’s playoffs, and the sight of Patrick Mahomes hobbling to the sideline against the Jacksonville Jaguars with a high ankle sprain, to understand the importance in protecting their quarterback.
Yet oddly enough, they were OK watching both of their starting offensive tackles leave in free agency.
The big blow was the departure of left tackle Orlando Brown Jr., for whom the Chiefs paid the Ravens handsomely in a trade, when the two sides failed to reach an agreement on a long-term deal.
But nearly as painful was the loss of right tackle Andrew Wylie, who had gone from an afterthought fighting for a job to one of the more reliable players along the offensive line.
Rarely do the Chiefs make such moves without a plan, though. General manager Brett Veach acted quickly to sign ex-Tampa Bay tackle Donovan Smith to handle the left side and former Jacksonville tackle Jawaan Taylor to handle the right, then Veach used a third-round pick on Oklahoma’s Wanya Morris to create instant competition at both positions.
So far, Chiefs coach Andy Reid — an old offensive line coach — has liked what he’s seen.
“You’re never sure exactly what you’re going to get there,” Reid said, “but they’re competing and that’s important. That’s an important part of this, that you’re able to push through these practices, run and pass. I like the way they work their game.”
The decision to put Mahomes’ health in the hands of Smith and Taylor is a gamble, though. Neither of them graded out particularly well last season, depending on the metric you use, though both of them have shown flashes of high-level play in the past.
Smith, for example, ranked No. 66 among 81 offensive tackles by Pro Football Focus. Taylor was just one spot better.
But the Chiefs have established a track record of unlocking the potential in relatively unheralded players, particularly along the offensive line, where assistant coach Andy Heck is among the best in the business.
Wylie is a prime example: He was undrafted out of Eastern Michigan and wound up earning two Super Bowl rings in Kansas City before signing with Washington.
“All of us have played a lot of football and a lot of big games, tough games,” Taylor said. “We’re all smart mentally, physically. It’s just more so we’re tying in each and every individual aspect of who we are and how we play and tying it together and figuring out what works, what meshes. You know, just the many things we bring to the table per guy I would say is our strength.”
Another strength is having one of the best interior offensive lines in the NFL. Left guard Joe Thuney is considered one of the top five in the league at his position, right guard Trey Smith is likewise considered a top-tier guard, and center Creed Humphrey was picked for the Pro Bowl in just his second season in the league.
It also helps having Mahomes calling out the signals.
“Just a great leader man. He brings that energy every day, you know? He holds everybody accountable,” Donovan Smith said. “You mess up, we are going to redo it. Even in the walk-throughs and the learning periods, we always slow it down and we get to learn the offense. That’s been helping me a lot with the walk-throughs and learning the things they like doing here.”
The Chiefs were fortunate to overcome Mahomes’ ankle injury in the playoffs. He returned in the second half to lead them past Jacksonville in the divisional round, and he hobbled through an AFC title game-thriller against Cincinnati, before hurting the ankle again in the Super Bowl — and then leading the Chiefs past Philadelphia for the Lombardi Trophy.
The pressure is on the Chiefs’ new offensive tackles to prevent the same such stress this season.
NOTES: RB Clyde Edwards-Helaire returned to practice Monday after missing the previous two with an illness. … TE Jody Fortson (shoulder), WR Kadarius Toney (knee) and DE Mike Danna (calf) were among those that remained out. P Tommy Townsend also spent time in the medical tent, though no reason was given by the Chiefs. … DT Chris Jones continued his holdout. He has been fined $50,000 for each day missed, which brings the total to $550,000. … The Chiefs had a short practice Monday after three consecutive workouts in pads. They are off Tuesday before resuming camp Wednesday.
___
AP NFL: https://apnews.com/hub/nfl and https://twitter.com/AP_NFL
|
https://fox59.com/sports/ap-sports/ap-chiefs-to-rely-on-new-offensive-tackles-to-protect-patrick-mahomes-this-season/
| 2023-07-31T20:47:33
| 1
|
https://fox59.com/sports/ap-sports/ap-chiefs-to-rely-on-new-offensive-tackles-to-protect-patrick-mahomes-this-season/
|
Health regulators in the United States are working to respond to a potential tuberculosis outbreak that's linked to a company's tainted bone graft products.
Three new cases of the highly unusual and deadly disease were identified in the U.S. last week, bringing the total number of cases to five, according to Politico. At least one person has died.
The Centers for Disease Control and Prevention said the cases appear to be linked to a single product sold by Aziyo Biologics Inc. that's used in surgical and dental procedures.
Shipments of the product were sent to over a dozen facilities in California, Louisiana, Michigan, New York, Oregon, Texas and Virginia. Regulators said product from the contaminated lot was implanted in at least 36 other people.
"CDC and FDA are working with state and local health departments, hospitals, surgical centers, and dental offices in the affected states to ensure patients are rapidly evaluated and treated, prevent further patient harm, and determine if additional measures can be taken to prevent similar outbreaks in the future," the agency said in a statement.
SEE MORE: Authorities arrest woman refusing tuberculosis treatment
Aziyo issued a voluntary recall notice for the tainted product earlier this month and the CDC says all of the unused units have been removed from inventory.
"We are taking immediate action to safeguard patients by implementing a full product recall as we work with the CDC to investigate this event," Aziyo president and CEO Dr. Randy Mills said in a statement. "The people of Aziyo care deeply about the patients we serve and will continue to work with the medical community, patients, and regulatory authorities as we gather additional information."
However, this isn't the first time the company has been linked to a deadly outbreak of the rare disease. In 2021, a different bone graft product sold by Aziyo was responsible for a tuberculosis outbreak in at least 87 patients, eight of which died.
SEE MORE: Tick bites likely causing thousands to develop meat allergy
Tuberculosis is an infectious disease that primarily affects an infected person's lungs, but can also target other parts of the body, such as the brain, spine, or kidneys. It is transmitted through the air when an infected person coughs, sneezes, or speaks, releasing tiny droplets that contain the bacteria.
Tuberculosis is treatable and curable, but requires a specific course of antibiotics taken over several months to ensure all bacteria has been eliminated from the body. Preliminary data from the CDC shows that the number of cases in the U.S. increased by 5% in 2022 to 8,300 cases, specifically among children under 4 years of age, those who are incarcerated, and people who have immigrated from parts of the world with high rates of the disease.
The U.S. has one of the lowest tuberculosis rates in the world, thanks to large investments into domestic programs and control efforts.
Trending stories at Scrippsnews.com
|
https://www.kxlf.com/deadly-tuberculosis-outbreaks-in-us-linked-to-tainted-bone-grafts
| 2023-07-31T20:47:34
| 0
|
https://www.kxlf.com/deadly-tuberculosis-outbreaks-in-us-linked-to-tainted-bone-grafts
|
Animal Shelters, Rescue Groups, and Happy Adopters, Nationally and Internationally, Encouraged to Celebrate the Role Adopted Dogs Play in Our Lives
PORT WASHINGTON, N.Y., July 31, 2023 /PRNewswire/ -- Tuesday, August 1st is DOGust 1ST ®– the official birthday for all rescue dogs – and North Shore Animal League America is encouraging animal lovers around the country and globe to join them in celebrating the incredible meaning our adopted animals add to our lives.
Since the actual dates of birth for most rescued dogs are unknown, Animal League America created DOGust 1st to celebrate rescue dogs (those adopted and those awaiting loving homes.) Since 2008, these "Mutt-i-grees" have had this day designated to honor the incredible impact they make on our lives.
"This is a wonderful opportunity to celebrate rescue dogs and the invaluable role they play in our lives, while raising awareness about the importance of rescue and adoption," said Joanne Yohannan, Senior Vice President, Operations, North Shore Animal League America.
In honor of DOGust 1st, North Shore Animal League America, and many of their shelter partners across the country, will be participating in DOGust 1st festivities throughout the week (August 1 – 7.) By encouraging adoption specials, birthday themed activities, and local media opportunities, even more rescue dogs are expected to find loving, responsible homes.
To find an adoptable pet at a shelter or rescue group in your area go to www.animalleague.org.
To find a participating DOGust 1st group near you visit www.animalleague.org/dogust1st.
For video highlights of DOGust 1st, visit: DOGUST 1ST ASSETS
Photo & Video Credit: North Shore Animal League America
MEDIA CONTACT:
KATHLEEN LYNN
Senior Director of Communications
Cell: (516) 528-7878
Email: KathleenL@animalleague.org
#DOGust1st #GetYourRescueOn
About NORTH SHORE ANIMAL LEAGUE AMERICA
Animal League America has saved more than 1.1 million lives. As the world's largest no-kill rescue and adoption organization, we understand that a rescue isn't complete until each animal is placed into a loving home. Our innovative programs provide education to reduce animal cruelty and advance standards in animal welfare. We reach across the country to rescue animals from overcrowded shelters, unwanted litters, commercial breeding facilities, natural disasters and other emergencies and find them permanent, loving homes. www.animalleague.org
View original content to download multimedia:
SOURCE North Shore Animal League America
|
https://www.wbtv.com/prnewswire/2023/07/31/north-shore-animal-league-america-leads-worldwide-celebration-dogust-1st-official-birthday-all-rescue-dogs/
| 2023-07-31T20:47:35
| 0
|
https://www.wbtv.com/prnewswire/2023/07/31/north-shore-animal-league-america-leads-worldwide-celebration-dogust-1st-official-birthday-all-rescue-dogs/
|
Published: Jul. 31, 2023 at 3:05 PM CDT|Updated: 42 minutes ago
Broadband revenue up 20% and Video SaaS revenue up 58% year over year
SAN JOSE, Calif., July 31, 2023 /PRNewswire/ -- Harmonic Inc. (NASDAQ: HLIT) today announced its unaudited results for the second quarter of 2023.
"While we achieved double digit year over year Broadband and Video SaaS revenue growth and strong gross margins for the second quarter, we experienced hardware sales delays across our business segments resulting in total revenue that was below our expectations," said Patrick Harshman, president and chief executive officer of Harmonic. "Despite these short-term headwinds, we have the largest backlog in our Company's history and our operating model continued to deliver solid profitability. The strength of our market position was reinforced by several new customer wins which further supports our multi-year growth plan."
Q2 Financial and Business Highlights
Financial
Revenue: $156.0 million, down 1% year over year
Gross margin: GAAP 54.5% and non-GAAP 54.7%, compared to GAAP 52.3% and non-GAAP 52.8% in the year ago period
Operating income: GAAP income $10.0 million and non-GAAP income $18.2 million, compared to GAAP income $15.1 million and non-GAAP income $21.4 million in the year ago period
Net income: GAAP net income $1.6 million and non-GAAP net income of $14.0 million, compared to GAAP net income $14.8 million and non-GAAP net income $17.6 million in the year ago period
Adjusted EBITDA: $21.1 million income compared to $24.3 million income in the year ago period
EPS: GAAP net income per share of $0.01 and non-GAAP net income per share of $0.12, compared to GAAP net income per share of $0.14 and non-GAAP net income per share of $0.16 in the year ago period
Cash: $71.0 million, down $50.8 million year over year
Business
CableOS® solution commercially deployed with 98 customers, serving 21.0 million cable modems, and initial orders received from two new Tier 1 customers
Recognized for the first time as the "cable broadband equipment" market share leader, by the most recent Dell'Oro Group1 report
Signed a follow-on multi-year software contract with an existing Tier 1 customer
Live sports streaming SaaS expansions and new wins drove 58.3% Video SaaS revenue growth year over year
Select Financial Information
Explanations regarding our use of non-GAAP financial measures and related definitions, and reconciliations of our GAAP and non-GAAP measures, are provided in the sections below entitled "Use of Non-GAAP Financial Measures" and "GAAP to Non-GAAP Reconciliations".
Financial Guidance
Conference Call Information
Harmonic will host a conference call to discuss its financial results at 2:00 p.m. PT (5:00 p.m. ET) on Monday, July 31, 2023. The live webcast will be available on the Harmonic Investor Relations website at http://investor.harmonicinc.com. To participate via telephone, please register in advance using this link, https://register.vevent.com/register/BI455acac6063542fb837fd89bddfb1d84. A replay will be available after 5:00 p.m. PT on the same web site.
About Harmonic Inc.
Harmonic (NASDAQ: HLIT), the worldwide leader in virtualized broadband and video delivery solutions, enables media companies and service providers to deliver ultra-high-quality video streaming and broadcast services to consumers globally. The company revolutionized broadband networking via the industry's first virtualized broadband solution, enabling cable operators to more flexibly deploy gigabit internet service to consumers' homes and mobile devices. Whether simplifying OTT video delivery via innovative cloud and software platforms, or powering the delivery of gigabit internet cable services, Harmonic is changing the way media companies and service providers monetize live and on-demand content on every screen. More information is available at www.harmonicinc.com.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements related to our expectations regarding: net revenue, gross margins, operating expenses, operating income (loss), Adjusted EBITDA, tax expense and tax rate, EPS and cash. Our expectations regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include, in no particular order, the following: the market and technology trends underlying our Video and Broadband businesses will not continue to develop in their current direction or pace; the possibility that our products will not generate sales that are commensurate with our expectations or that our cost of revenue or operating expenses may exceed our expectations; the impact of general economic conditions on our sales and operations; the mix of products and services sold in various geographies and the effect it has on gross margins; delays or decreases in capital spending in the cable, satellite, telco, broadcast and media industries; customer concentration and consolidation; our ability to develop new and enhanced products in a timely manner and market acceptance of our new or existing products; losses of one or more key customers; risks associated with our international operations; exchange rate fluctuations of the currencies in which we conduct business; risks associated with our CableOS and VOS product solutions; dependence on various video and broadband industry trends; inventory management; the lack of timely availability or the impact of increases in the prices of parts or raw materials necessary to produce our products; the effect of competition, on both revenue and gross margins; difficulties associated with rapid technological changes in our markets; risks associated with unpredictable sales cycles; our dependence on contract manufacturers and sole or limited source suppliers; and the effect on our business of natural disasters. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Harmonic's filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K for the year ended December 31, 2022, our most recent Quarterly Report on Form 10-Q and our Current Reports on Form 8-K. The forward-looking statements in this press release are based on information available to the Company as of the date hereof, and Harmonic disclaims any obligation to update any forward-looking statements.
Use of Non-GAAP Financial Measures
The Company reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP" or referred to herein as "reported"). However, management believes that certain non-GAAP financial measures provide management and other users with additional meaningful financial information that should be considered when assessing our ongoing performance. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, establish operating budgets, set internal measurement targets and make operating decisions.
These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. The Company believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Harmonic's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Harmonic's results of operations in conjunction with the corresponding GAAP measures.
The Company believes that the presentation of non-GAAP measures, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations. Non-GAAP financial measures should be viewed in addition to, and not as an alternative to, the Company's reported results prepared in accordance with GAAP.
The non-GAAP measures presented here are: Gross profit, operating expenses, income (loss) from operations, non-operating expenses and net income (loss) (including those amounts as a percentage of revenue), Adjusted EBITDA and net income (loss) per diluted share. The presentation of non-GAAP information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP, and is not necessarily comparable to non-GAAP results published by other companies. A reconciliation of the historical non-GAAP financial measures discussed in this press release to the most directly comparable historical GAAP financial measures is included with the financial statements provided with this press release. The non-GAAP adjustments described below have historically been excluded from our GAAP financial measures.
Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects:
Stock-based compensation - Although stock-based compensation is a key incentive offered to our employees, we continue to evaluate our business performance excluding stock-based compensation expenses. We believe that management is limited in its ability to project the impact stock-based compensation would have on our operating results. In addition, for comparability purposes, we believe it is useful to provide a non-GAAP financial measure that excludes stock-based compensation in order to better understand the long-term performance of our core business and to facilitate the comparison of our results to the results of our peer companies.
Restructuring and related charges - Harmonic from time to time incurs restructuring charges which primarily consist of employee severance, one-time termination benefits related to the reduction of its workforce, lease exit costs, and other costs. These charges are associated with material business shifts. We exclude these items because we do not believe they are reflective of our ongoing long-term business and operating results.
Non-cash interest expense and other expenses related to convertible notes and other debt - We record the amortization of issuance costs as non-cash interest expense. We believe that excluding these costs provides meaningful supplemental information regarding operational performance and liquidity, along with enhancing investors' ability to view the Company's results from management's perspective. In addition, we believe excluding these costs from the non-GAAP measures facilitates comparisons to our historical operating results and comparisons to peer company operating results.
Gain and losses on equity investments - We exclude the gain and losses from the sale of our equity investments in calculating our non-GAAP financial measures. We exclude these items because we do not believe they are reflective of our ongoing long-term business and operating results.
Discrete tax items and tax effect of non-GAAP adjustments - The income tax effect of non-GAAP adjustments relates to the tax effect of the adjustments that we incorporate into non-GAAP financial measures in order to provide a more meaningful measure of non-GAAP net income.
Depreciation - Depreciation expense, along with interest, tax and stock-based compensation expense, and restructuring charges, is excluded from Adjusted EBITDA because we do not believe depreciation and the other items relate to the ordinary course of our business or are reflective of our underlying business performance.
Non-recurring advisory fees - There were non-recurring costs that we excluded from non-GAAP results relating to professional accounting, tax and legal fees associated with strategic corporate initiatives, including assessing corporate structure and organization, as we seek to optimize value for our business.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.
|
https://www.kxii.com/prnewswire/2023/07/31/harmonic-announces-second-quarter-2023-results/
| 2023-07-31T20:47:34
| 0
|
https://www.kxii.com/prnewswire/2023/07/31/harmonic-announces-second-quarter-2023-results/
|
RYE BROOK, N.Y., July 31, 2023 /PRNewswire/ -- Belle Haven Investments is proud to be Certified™ by Great Place To Work® for the second year in a row. The prestigious award is based entirely on what current employees say about their experience working at Belle Haven Investments. This year, 93% of employees said it's a great place To Work – 36 points higher than the average U.S. company.
Great Place To Work® is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation.
"Great Place To Work Certification is a highly coveted achievement that requires consistent and intentional dedication to the overall employee experience," says Sarah Lewis-Kulin, the Vice President of Global Recognition at Great Place To Work. She emphasizes that Certification is the sole official recognition earned by the real-time feedback of employees regarding their company culture. "By successfully earning this recognition, it is evident that Belle Haven Investments stands out as one of the top companies to work for, providing a great workplace environment for its employees."
Matt Dalton, CEO & CIO, expressed his excitement emphasizing "We owe the Firm's continued success to our dedicated and awesome employees. We celebrate and thank them for all they do to earn this incredible recognition."
About Belle Haven Investments
Belle Haven Investments is an independent, employee-owned asset manager that focuses exclusively on fixed income. They prioritize service, reliability, and customization, nurturing long-term partnerships with their clients. Their core values - trust and communication - permeate both external client relationships and internal team dynamics. The autonomy given to employees fosters trust, driving them to deliver their best work daily. To learn more, visit: https://www.bellehaven.com/
About Great Place to Work Certification™
Great Place To Work® Certification™ is the most definitive "employer-of-choice" recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place to Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place To Work-Certified.
Contact:
Nicole Robbins
robbinsn@bellehaven.com
View original content to download multimedia:
SOURCE Belle Haven Investments
|
https://www.wibw.com/prnewswire/2023/07/31/belle-haven-investments-earns-2023-great-place-work-certification/
| 2023-07-31T20:47:36
| 0
|
https://www.wibw.com/prnewswire/2023/07/31/belle-haven-investments-earns-2023-great-place-work-certification/
|
UNITED NATIONS (AP) — The United Nations chief on Monday welcomed Kenya’s offer to “positively consider” leading a multinational police force to help combat Haiti’s gangs and improve security in the violence-wracked Caribbean nation.
Haiti’s Prime Minister Ariel Henry sent an urgent appeal last October for “the immediate deployment of a specialized armed force, in sufficient quantity” to stop the gangs. U.N. Secretary-General António Guterres has been appealing unsuccessfully since then for a lead nation to help restore order to Latin America’s most impoverished country.
Kenya’s Foreign Ministry said Saturday said its offer includes a commitment to send 1,000 police to help train and assist the Haitian National Police “restore normalcy in the country and protect strategic installations.” The ministry said it was responding to a request from the Friends of Haiti group of nations.
“Kenya stands with persons of African descent across the world, including those in the Caribbean, and aligns with the African Union’s diaspora policy and our own commitment to Pan Africanism, and in this case to `reclaiming of the Atlantic crossing,’” the ministry said.
Haiti’s gangs have grown in power since the July 7, 2021 assassination of President Jovenel Moïse and are now estimated to control up to 80% of the capital. The surge in killings, rapes and kidnappings has led to a violent uprising by civilian vigilante groups.
U.N. deputy spokesman Farhan Haq said Guterres “welcomes Kenya’s positive response to his call” and expresses gratitude to Kenya for its “solidarity.”
The secretary-general calls on the U.N. Security Council to support a non-U.N. multinational operation in Haiti “and encourages member states, particularly from the region, to join forces from Kenya” in supporting the country’s police, Haq said.
Kenya’s Foreign Ministry said its proposed deployment will crystalize once the Security Council adopts a resolution giving a mandate for the force, and other Kenyan constitutional processes are undertaken.
A Kenyan task force plans to undertake an assessment mission to Haiti within the next few weeks which “will inform and guide the mandate and operational requirements of the mission,” it said.
Guterres, who visited Haiti in early July, called afterward for a robust international force to help the Haitian National Police “defeat and dismantle the gangs.”
He said the estimate by the U.N. independent expert for Haiti, William O’Neill, that up to 2,000 additional anti-gang police officers are needed is no exaggeration. O’Neill, who concluded a 10-day trip to Haiti in July, is an American lawyer who has been working on Haiti for over 30 years and helped establish the Haitian National Police in 1995.
The Security Council unanimously adopted a resolution on July 14 asking Guterres to come up with “a full range of options” within 30 days to help combat Haiti’s armed gangs, including a non-U.N. multinational force, a possible U.N. peacekeeping force, additional training for the Haitian National Police and providing support to combat illegal arms trafficking to the country.
Compounding the gang warfare, which has spread outside the capital, is the country’s political crisis: Haiti was stripped of all democratically elected institutions when the terms of the country’s remaining 10 senators expired in early January.
The Security Council resolution, co-sponsored by the United States and Ecuador, “strongly urges” all countries to prohibit the supply, sale or transfer of weapons to anyone supporting gang violence and criminal activities.
U.S. Secretary of State Antony Blinken spoke to Kenyan President William Ruto on Monday including about Kenya’s positive consideration to leading a multinational force in Haiti, State Department spokesperson Matthew Miller said.
The United States takes over the rotating presidency of the U.N. Security Council for August on Tuesday, and Miller said the U.S. and Ecuador, as a first step, are going to introduce a resolution to authorize a non-U.N. multinational mission.
The second step is an assessment mission by Kenya, “which they plan to do in the coming days,” and then there will be talks with other countries about what additional assistance is needed, he said.
“We are committed to finding the resources to support this multinational force,” Miller said. “We’ve been a large humanitarian donor to relief efforts in Haiti for some time, and we have worked behind the scenes to find the lead nation to run this multinational force and are pleased that that has been successful.”
___
Ellen Knickmeyer contributed to this report from Washington and Evelyne Musambi from Nairobi
|
https://www.yourbasin.com/news/international/ap-un-chief-welcomes-kenyas-offer-to-positively-consider-leading-police-force-to-combat-haiti-gangs/
| 2023-07-31T20:47:37
| 0
|
https://www.yourbasin.com/news/international/ap-un-chief-welcomes-kenyas-offer-to-positively-consider-leading-police-force-to-combat-haiti-gangs/
|
When a mysterious object showed up on a beach in Western Australia earlier this month, authorities and the public were left scratching their heads about what it was and where it came from.
For more than two weeks, people speculated about what this metallic cylinder could be and where it came from. Many questioned (with varying levels of sincerity) if it was from outer space and could be proof of alien life.
Others wondered if the debris could be from the Malaysian Airlines plane that vanished in 2014.
However, the Australian Space Agency quickly debunked some of the more out there theories, and determined the object was from another country’s space program.
MORE: Scientists discover a two-faced dwarf star
We have concluded the object located on a beach near Jurien Bay in Western Australia is most likely debris from an expended third-stage of a Polar Satellite Launch Vehicle (PSLV).
The PSLV is a medium-lift launch vehicle operated by @isro.
[More in comments] pic.twitter.com/ivF9Je1Qqy
— Australian Space Agency (@AusSpaceAgency) July 31, 2023
“We have concluded the object located on a beach near Jurian Bay in Western Australia is most likely debris from an expended third-stage of a Polar Satellite Launch Vehicle […] operated by @isro (Indian Space Research Organization),” the agency shared on its official Twitter account.
The New York Times reported India did launch a rocket intended to go to the moon a few days before the object was found on the remote Australian beach.
The Australian Space Agency disclosed it has now placed the discovered item in storage and plans to work with ISRO to determine what’s next.
A 1968 United Nations agreement outlines guidelines for nations that “requires States Parties [to] return any ‘foreign’ space objects discovered in their territory to their owners and that they notify the [U.N.] Secretary-General of any such discovered objects.”
According to space archeologist Alice Gorman, discoveries such as this will likely become more common with more launches from organizations such as SpaceX and other national space programs.
“There are so many more launches than there used to be that it is likely we’re going to see more fuel tanks and other components ending up on Earth,” Gorman told ABC News Australia.
However, she assured the general public not to worry about stuff falling from space. This latest piece of space debris washed up to the shore from the ocean, and public risk is minimal now.
“Nobody has to walk around looking above their heads in fear that a piece of space junk is going to fall on them and decimate them,” Gorman concluded.
This story originally appeared on Simplemost. Check out Simplemost for additional stories.
|
https://www.kivitv.com/mysterious-object-ended-up-on-beach
| 2023-07-31T20:47:37
| 1
|
https://www.kivitv.com/mysterious-object-ended-up-on-beach
|
PITTSFORD, N.Y. (AP) — Of the thousands of emotions — trepidation among them — running through Damar Hamlin’s head Monday while he pulled on his pads for practice for the first time at training camp, the one that ultimately won out was joy.
For everything the Buffalo Bills safety has overcome in seven months since going into cardiac arrest during a game and needing to be resuscitated on the field, Hamlin leaned on his faith in God and himself, along with the support from his family and teammates, to take another step toward resume his playing career.
“A super big hurdle as you can imagine. Like, I pretty much lost my life playing this sport,” Hamlin said at a news conference after practice.
“I made the choice to play. But I’m processing a thousand emotions. I’m not afraid to say that it crosses my mind of being a little scared here and there,” he added. “My faith is stronger than any fear. That’s what I want to preach up here. And that’s the message I want to spread on to the world that as long as your faith is stronger than your fear, you can get through anything.”
Though Hamlin was cleared to resume practicing in mid-April, he did so wearing a helmet and shorts with the rest of his teammates through their spring sessions and first four days of training camp, as mandated by NFL rules. The magnitude of the Bills’ first day in pads wasn’t lost on Hamlin, given it marked the first time he was in full uniform since collapsing on the field in Cincinnati on Jan. 2 after making what appeared to be a routine tackle of Bengals receiver Tee Higgins.
“Ah man, it feels amazing. It’s a roller coaster of emotions. I was kind of all over the place just being back for the first time,” Hamlin said. “Just trying to keep everything as normal as possible.”
The normality of football struck him about an hour into practice when Hamlin took the field for the first time during a team red-zone running drill in which tackling was still not allowed.
On his second play, Hamlin showed no hesitation when bursting toward Damien Harris and wrapping him up with both arms. A play later, running back James Cook broke a tackle before Hamlin joined a teammate in wrapping him up just before the goal line.
Hamlin’s biggest contact came on the final play of practice, when he avoided a block to work his way into the backfield and help a teammate stop tight end Quintin Morris for what would have been a loss.
“That first little moment of contact, that was just letting me know. I felt alive, man. I felt like I’m here,” Hamlin said with a wide grin. “So it felt good. It was just that moment of: ‘All right, let’s settle in and let’s just take one play at a time. Let’s just keep going.’”
Hamlin’s only lament was not having any balls thrown in his direction during team drills, though he laughed when saying that might not be a bad thing.
“When the ball’s not coming my way, that makes you think you’re doing your job right,” Hamlin said. “But, you know, I would love some more opportunities to make a big play and turn practice up a bit.”
The 25-year-old from the Pittsburgh area is entering his third NFL season. Selected by Buffalo in the sixth round of the 2021 draft out of Pitt, he opened last season as a backup before starting 13 games after Micah Hyde sustained a season-ending neck injury.
This year, Hamlin is competing with offseason free agent addition Taylor Rapp for a backup role behind Hyde and Jordan Poyer. As for Hamlin’s next hurdle, it’ll come Aug. 12, when the Bills open their preseason schedule at home against Indianapolis.
Rapp, who spent his first four NFL seasons with the Los Angeles Rams, might be new to Buffalo but is impressed with how Hamlin has handled himself.
“How far he’s come and what he’s able to come back from late last season and just seeing how he goes about himself and attacks the rehab at the facility is nothing short of inspiring,” Rapp said.
A day earlier, coach Sean McDermott said he was walking a fine line in treating Hamlin much like any other player, while keeping in mind what he’s gone through.
“I think awareness is important, right? You’ve got X amount of guys out here and then you have Damar in there as well and trying to make it as a normal as possible,” McDermott said. “We’re going to support him through this, and to this point he’s done a phenomenal job.”
___
AP NFL: https://apnews.com/hub/nfl and https://twitter.com/AP_NFL
|
https://fox59.com/sports/ap-sports/ap-damar-hamlin-puts-aside-fear-and-practices-in-pads-for-the-first-time-since-cardiac-arrest/
| 2023-07-31T20:47:39
| 1
|
https://fox59.com/sports/ap-sports/ap-damar-hamlin-puts-aside-fear-and-practices-in-pads-for-the-first-time-since-cardiac-arrest/
|
Climate change has been an important issue for President Joe Biden since the beginning of his administration. And while a majority of Americans agree that we need to work to reduce global warming, the partisan divide surrounding climate change is growing.
"I don't think anybody can deny the impact of climate change anymore," Biden said during a press conference on extreme heat.
Amid a sizzling hot summer, Biden announced new actions to combat extreme heat and drought. It comes as Americans across the country are feeling first-hand evidence of the changing climate.
"All of these kinds of events are really starting to literally hit home. And many Americans are starting to go, 'Oh my God, this isn't distant in time and space. This is happening right now. And we need to act,'" said Anthony Leiserowitz, the director of the Yale Program on Climate Change Communication.
SEE MORE: Extreme heat expected to be costly, especially in Texas
According to polling from the Pew Research Center,a majority of Americans, 54%, think climate change is a major threat, but there's also a stark partisan divide. Over last 15 years, the percent of Democrats who say climate change is a major threat has gone up, while that answer went down among Republicans.
That partisan impact means politicians aren't the best messengers for climate change. But experts say new voices are stepping up to raise alarm about the warming planet in an impactful way.
"We're now seeing doctors and nurses talking about how climate change is showing up in their emergency room and in the waiting room. We're hearing from faith leaders saying our religion, Christianity, Judaism, Buddhism, Islam, all of these major leaders have said climate change is a fundamental moral issue that we must address as religious people," said Leiserowitz.
Local meteorologists can be some of the most effective messengers for climate change, and the White House appears to recognize that. The vice president's office has reached out to local weather forecasters to start a discussion on best practices for talking about climate change and its impact.
Trending stories at Scrippsnews.com
|
https://www.kxlf.com/despite-rising-concerns-climate-change-is-still-a-partisan-issue
| 2023-07-31T20:47:41
| 1
|
https://www.kxlf.com/despite-rising-concerns-climate-change-is-still-a-partisan-issue
|
DENVER, July 31, 2023 /PRNewswire/ -- Palantir Technologies Inc. (NYSE: PLTR) today announced that it was selected by the Defense Information Systems Agency (DISA) to support coordination between federal and commercial licensees of the 3450 - 3550 MHz spectrum band. Palantir will provide its software platform to enable end-to-end automation that will enhance coordination between the Department of Defense and commercial spectrum licensees for shared use of the 3450-3550 MHz band within cooperative planning area (CPA) and periodic use area (PUA) coordination zone boundaries.
As part of an ongoing interagency effort to facilitate the shared usage of critically important mid-band spectrum, Palantir's software will enable DISA's Defense Spectrum Organization (DSO) to support formal and informal coordination processes between the Department of Defense and commercial licensees. Existing and future government activities in the spectrum band are vital to protect national security and ensure military readiness.
Palantir software will be used to integrate multiple existing functions and capabilities into a single infrastructure that will result in more efficient workflows, reducing the timelines for licensee coordination with DoD to establish sharing agreements and enable deployment of 5G wireless services within CPA/PUA boundaries. Palantir software will also be used to demonstrate the ability to support more advanced spectrum sharing use cases.
"We are proud to partner with DISA DSO to support the complex task of sharing limited spectrum resources between federal and commercial users," said Akash Jain, President, Palantir USG. "We are excited to rapidly deploy software that will accelerate and automate coordination workflows and enable the increasingly dynamic and efficient use of spectrum."
"As military and commercial use of radio-frequency spectrum continues to grow, spectrum coordination will be increasingly necessary to preserve the effectiveness of critical national security capabilities while enabling U.S. commercial leadership in 5G and other critical technology areas. Palantir looks forward to working alongside the Department of Defense to deploy innovative software solutions that support advanced spectrum sharing workflows and processes," said Miriam Marwick, SVP, Emerging Technologies, Palantir USG.
About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir's expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms' reliability; and our customer's ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
Media Contact
Lisa Gordon
media@palantir.com
View original content to download multimedia:
SOURCE PALANTIR TECHNOLOGIES INC.
|
https://www.wbtv.com/prnewswire/2023/07/31/palantir-selected-by-department-defense-automate-spectrum-coordination-workflows/
| 2023-07-31T20:47:41
| 1
|
https://www.wbtv.com/prnewswire/2023/07/31/palantir-selected-by-department-defense-automate-spectrum-coordination-workflows/
|
- VOXZOGO® Growth Continued in the Second Quarter Driven by Global Demand Resulting in Increased Full Year 2023 Guidance
- Pivotal Program with VOXZOGO in New, Potential Second Indication, Hypochondroplasia, to Begin in the Fourth Quarter of 2023
- U.S. Approval of ROCTAVIAN™ Received in the Second Quarter and Commercial Launch Underway; Commercial Launch in Europe Making Progress
SAN RAFAEL, Calif., July 31, 2023 /PRNewswire/ -- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) today announced financial results for the six months and second quarter ended June 30, 2023.
"Outstanding execution across our business led to record revenues in the first half of 2023. We reached more children with VOXZOGO around the world, as physicians and families sought treatment with the only approved medicine targeting the genetic cause of achondroplasia," said Jean-Jacques Bienaimé, Chairman and Chief Executive Officer of BioMarin. "We were also very pleased to have received the highly anticipated U.S. approval of ROCTAVIAN, the only gene therapy treatment for severe hemophilia A. U.S. commercial launch activities are well underway following the June 29 approval, in parallel with launch progress across a number of European countries."
Mr. Bienaimé added, "for the remainder of 2023, we plan to build on the foundation of growth and profitability achieved in the first half of the year, expand VOXZOGO globally and treat the first ROCTAVIAN patients in the U.S. and Europe."
Financial Highlights:
- Total Revenues for the second quarter of 2023 were $595.3 million, an increase of 12% compared to the same period in 2022. The increase in Total Revenues was primarily attributed to the following:
- GAAP and Non-GAAP Net Income increased by $28.3 million and $28.4 million, respectively, for the second quarter of 2023 compared to the same period in 2022. The increased net income was primarily due to higher gross profit and interest income, partially offset by higher spend in research and development programs to support both early-stage research and clinical activities, as well as higher selling, general and administrative expenses due to higher foreign currency losses and to support the commercial launches of VOXZOGO and ROCTAVIAN.
Recent Product Approvals and Launches (ROCTAVIAN and VOXZOGO)
- On June 29, 2023 the FDA approved ROCTAVIAN gene therapy for the treatment of adults with severe hemophilia A (congenital factor VIII (FVIII) deficiency with FVIII activity < 1 IU/dL) without antibodies to adeno-associated virus serotype 5 (AAV5) detected by an FDA-approved test. The FDA approval is based on data from the global Phase 3 GENEr8-1 study, the largest Phase 3 trial of any gene therapy in hemophilia. The one-time, single-dose infusion is the first approved gene therapy for severe hemophilia A in the U.S. ROCTAVIAN was first conditionally approved by the European Commission in August 2022.
Following FDA approval, the Company activated its U.S.-based salesforce and communicated that ROCTAVIAN is expected to be available for commercial use in August. BioMarin estimates that there are approximately 2,500 people living with severe hemophilia A in the United States who are eligible for treatment and receiving care at approximately 140 hemophilia treatment centers. - In Europe, BioMarin continues to make progress on the pricing and reimbursement process for ROCTAVIAN in Germany, France and Italy to facilitate access. BioMarin is working directly with the German National Association of Statuary Health Insurance Funds (GKV) to finalize access to ROCTAVIAN. At present, people in Germany with severe hemophilia A, who are eligible for treatment with ROCTAVIAN, can access treatment through either Named Patient authorizations or previously secured Outcomes Based Agreements. In France and Italy, BioMarin is working directly with the single public insurance funds in each country to secure reimbursement and access to ROCTAVIAN, expected later in 2023.
- As of the end of June 2023, more than 2,000 children with achondroplasia were being treated with VOXZOGO across 36 active markets. In the second quarter, patient growth remained strong worldwide. Based on these trends, today BioMarin updated full-year 2023 VOXZOGO guidance to between $400 million and $440 million. VOXZOGO is currently approved for the treatment of children 2 years old and older in Europe, for children 5 years old and older in the U.S., and approved for all ages from birth in Japan.
VOXZOGO and ROCTAVIAN Market Expansion Opportunities
- Today, BioMarin announced its plan to begin enrollment in the pivotal program with VOXZOGO for the treatment of children with hypochondroplasia, a condition characterized by impaired bone growth. Hypochondroplasia is a genetic statural condition caused by a mutation (gene change) in the fibroblast growth factor receptor-3 (FGFR3) gene.
Leveraging years of safety data from the VOXZOGO development program in achondroplasia, emerging data from an investigator-led Phase 2 study and following receipt of feedback from FDA, BioMarin plans to begin the 6-month observation arm of the study later this year, followed by the 52-week randomized, double-blind, placebo-controlled phase of the 80-participant clinical trial. If successful, BioMarin believes this study will be able to support regulatory approval in this large indication. - In the coming months in the U.S. and Europe, the Company expects to learn the outcome of its request to expand VOXZOGO access to younger age groups, based on favorable results from a Phase 2 study in infants and young children and the importance of starting treatment as early as feasible. Age expansions would provide access to treatment with VOXZOGO to more than 1,000 additional children in the U.S. and Europe.
- Additional product expansion opportunities with ROCTAVIAN continue, including a clinical study investigating ROCTAVIAN treatment in those with active or prior inhibitors and continued exploration of methods of administering ROCTAVIAN in people with pre-existing antibodies against AAV5.
Earlier-stage Development Portfolio (BMN 255, BMN 331, BMN 351, BMN 349, BMN 293)
- BioMarin plans to showcase its Research and Development capabilities and earlier-stage product candidate updates at its R&D Day on September 12, 2023. Details on accessing the live event will be available on BioMarin's website in early September.
- BMN 255 for hyperoxaluria in chronic liver disease: The Company has concluded the multi-ascending dose study with BMN 255 in healthy human volunteers. Based on early data demonstrating a rapid and potent increase in plasma glycolate following treatment with BMN 255, BioMarin plans to open enrollment in an expanded study in patients with chronic liver disease and hyperoxaluria in the second half of 2023. The Company believes the availability of a potent, orally bioavailable, small molecule like BMN 255 may be able to significantly reduce disease and treatment burden in a patient population with significant unmet need.
- BMN 331 gene therapy product candidate for Hereditary Angioedema (HAE): Dosing continues in the Phase 1/2 HAERMONY study to evaluate BMN 331, an investigational AAV5-mediated gene therapy for people living with HAE. In January 2023, BioMarin shared that the first participant treated with the 6e13vg/kg dose demonstrated C1-Inhibitor levels that were approaching the therapeutically relevant range. In March 2023, the second sentinel participant was safely dosed at 6e13vg/kg and this individual has had a similar initial response. BioMarin will continue to monitor the trajectory of expression in these two individuals before deciding on next steps in this program.
- BMN 351 for Duchenne Muscular Dystrophy (DMD): Investigational New Drug application (IND)-enabling activities continue with BMN 351, an antisense oligonucleotide therapy for individuals with exon 51-skip-amenable DMD. BMN 351 was developed using familiar chemistry and superior biology, by targeting a novel, splice enhancer site demonstrating improved binding affinity and tolerability in preclinical models. Preclinical data suggest that restored expression of near-full-length dystrophin protein at levels of up to 40% will convert phenotypes from rapid loss to durable preservation of strength and ambulation.
- BMN 349 for alpha-1 antitrypsin deficiency: Preclinical studies have demonstrated that BMN 349 is an orally bioavailable, small molecule that preferentially sequesters mutant protein, preventing polymerization in liver cells that drive the progressive liver disease form of the illness. In preclinical studies BMN 349 is titratable to effect, with rapid onset and high potency. Preclinical results have strong implications for potential improvement of current management, particularly for severe liver disease requiring rapid action. IND enabling studies are concluding and BioMarin plans to submit the IND in the second half of 2023.
- BMN 293 for MYBPC3 hypertrophic cardiomyopathy (HCM): Mutations in the MYBPC3 gene are the most common cause of inherited HCM. Early investigations suggest that gene therapy-mediated gene transfer can lead to widespread expression of the gene product, cardiac myosin-binding protein C (MyBP-C), in cardiac tissue, which can normalize cardiac hypertrophy, improve relaxation kinetics and potentially alleviate functional deficits in individuals suffering from cardiomyopathy. IND enabling studies are underway and have incorporated pre-IND feedback from the FDA. BioMarin's goal is to submit an IND for BMN 293 in the second half of 2023.
2023 Full-Year Financial Guidance (in millions, except % and EPS amounts) (Updated)
BioMarin will host a conference call and webcast to discuss second quarter 2023 financial results today, Monday, July 31, 2023, at 4:30 p.m. ET. This event can be accessed through this link or on the investor section of the BioMarin website at www.biomarin.com.
About BioMarin
Founded in 1997, BioMarin is a global biotechnology company dedicated to transforming lives through genetic discovery. The Company develops and commercializes targeted therapies that address the root cause of genetic conditions. BioMarin's robust research and development capabilities have resulted in multiple innovative commercial therapies for patients with rare genetic disorders. The Company's distinctive approach to drug discovery has produced a diverse pipeline of commercial, clinical, and pre-clinical candidates that address a significant unmet medical need, have well-understood biology, and provide an opportunity to be first-to-market or offer a substantial benefit over existing treatment options. For additional information, please visit www.biomarin.com.
Forward-Looking Statements
This press release and the associated conference call and webcast contain forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including, without limitation, statements about: the expectations of Total Revenues, Net Product Revenues, Enzyme Product Revenues, Gross Profit, Research and Development Expense (R&D), Selling, General and Administrative Expense (SG&A), GAAP Net Income, Non-GAAP Income, GAAP Diluted EPS and Non-GAAP Diluted EPS for the full-year 2023; cash flows from operating activities; the timing of orders for commercial products; the timing of BioMarin's clinical development and commercial prospects, including announcements of data from clinical studies and trials; the clinical development and commercialization of BioMarin's product candidates and commercial products, including (i) the potential to leverage VOXZOGO in conditions beyond achondroplasia, such as hypochondroplasia, (ii) the results from clinical studies regarding product expansion opportunities for ROCTAVIAN, (iii) BioMarin's plans to initiate and enroll an expanded study of BMN 255 in the second half of 2023, (iv) BioMarin's plan to submit an IND for BMN 349 in the second half of 2023, and (v) BioMarin's goal to submit an IND for BMN 293 in the second half of 2023; the potential approval and commercialization of BioMarin's product candidates, including commercialization of ROCTAVIAN for the treatment of severe hemophilia A in the U.S. following FDA approval in June 2023, and the timing of such approval decisions and product launches, including (i) the anticipated start and growth of commercial sales of VOXZOGO in additional countries, and (ii) BioMarin's expectation that U.S. and EU health authorities take action on its supplemental marketing applications for VOXZOGO in the coming months and the number of additional children that will be eligible for VOXZOGO if such age expansions are accepted; the expected benefits and availability of BioMarin's product candidates; and potential growth opportunities and trends, including that BioMarin expects accelerated growth of VOXZOGO revenues as the product launch continues in future quarters and that BioMarin expects growth of ROCTAVIAN revenues as the product's access is expanded in Europe and following commercial launch in the U.S.
These forward-looking statements are predictions and involve risks and uncertainties such that actual results may differ materially from these statements. These risks and uncertainties include, among others: BioMarin's success in the commercialization of its commercial products, impacts of macroeconomic and other external factors on BioMarin's operations; results and timing of current and planned preclinical studies and clinical trials and the release of data from those trials; BioMarin's ability to successfully manufacture its commercial products and product candidates; the content and timing of decisions by the FDA, the European Commission and other regulatory authorities concerning each of the described products and product candidates; the market for each of these products; actual sales of BioMarin's commercial products; the introduction of generic versions of BioMarin's commercial products, in particular generic versions of KUVAN; and those factors detailed in BioMarin's filings with the Securities and Exchange Commission (SEC), including, without limitation, the factors contained under the caption "Risk Factors" in BioMarin's Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 as such factors may be updated by any subsequent reports. Stockholders are urged not to place undue reliance on forward-looking statements, which speak only as of the date hereof. BioMarin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.
BioMarin®, BRINEURA®, KUVAN®, NAGLAZYME®, PALYNZIQ®, VIMIZIM® and VOXZOGO® are registered trademarks of BioMarin Pharmaceutical Inc., or its affiliates. ROCTAVIANTM is a trademark of BioMarin Pharmaceutical Inc. ALDURAZYME® is a registered trademark of BioMarin/Genzyme LLC. All other brand names and service marks, trademarks and other trade names appearing in this release are the property of their respective owners.
Non-GAAP Information
The results presented in this press release include both GAAP information and Non-GAAP information. Non-GAAP Income is defined by the Company as GAAP Net Income excluding amortization expense, stock-based compensation expense, contingent consideration expense, and, in certain periods, certain other specified items, as detailed below when applicable. The Company also includes a Non-GAAP adjustment for the estimated tax impact of the reconciling items. Non-GAAP Diluted EPS is defined by the Company as Non-GAAP Income divided by Non-GAAP diluted shares outstanding
BioMarin regularly uses both GAAP and Non-GAAP results and expectations internally to assess its financial operating performance and evaluate key business decisions related to its principal business activities: the discovery, development, manufacture, marketing and sale of innovative biologic therapies. Because Non-GAAP Income, Non-GAAP Diluted EPS and Non-GAAP Diluted Shares are important internal measurements for BioMarin, the Company believes that providing this information in conjunction with BioMarin's GAAP information enhances investors' and analysts' ability to meaningfully compare the Company's results from period to period and to its forward-looking guidance, and to identify operating trends in the Company's principal business. BioMarin also uses Non-GAAP Income internally to understand, manage and evaluate its business and to make operating decisions, and compensation of executives is based in part on this measure.
Non-GAAP Income and its components are not meant to be considered in isolation or as a substitute for, or superior to comparable GAAP measures and should be read in conjunction with the consolidated financial information prepared in accordance with GAAP. Investors should note that the Non-GAAP information is not prepared under any comprehensive set of accounting rules or principles and does not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP. Investors should also note that these Non-GAAP financial measures have no standardized meaning prescribed by GAAP and, therefore, have limits in their usefulness to investors. In addition, from time to time in the future there may be other items that the Company may exclude for purposes of its Non-GAAP financial measures; likewise, the Company may in the future cease to exclude items that it has historically excluded for purposes of its Non-GAAP financial measures. Because of the non-standardized definitions, the Non-GAAP financial measure as used by BioMarin in this press release and the accompanying tables may be calculated differently from, and therefore may not be directly comparable to, similarly titled measures used by other companies.
The following tables present the reconciliation of GAAP reported to Non-GAAP adjusted financial information:
View original content to download multimedia:
SOURCE BioMarin Pharmaceutical Inc.
|
https://www.wibw.com/prnewswire/2023/07/31/biomarin-announces-strong-second-quarter-2023-results-record-breaking-revenues-first-half-2023-including-13-year-over-year-growth-year-to-date/
| 2023-07-31T20:47:42
| 0
|
https://www.wibw.com/prnewswire/2023/07/31/biomarin-announces-strong-second-quarter-2023-results-record-breaking-revenues-first-half-2023-including-13-year-over-year-growth-year-to-date/
|
13% Sequential Revenue Growth Including 10% Organic
Maintains Strong Balance Sheet Post-Acquisitions of Atreus and businessfourzero
CHICAGO, July 31, 2023 /PRNewswire/ -- Today Heidrick & Struggles International, Inc. (Nasdaq: HSII) ("Heidrick & Struggles", "Heidrick" or the "Company") announced financial results for its second quarter ended June 30, 2023.
Second Quarter Highlights:
- Net revenue of $271.2 million increased 13% sequentially, 10% organically
- Operating income of $13.6 million decreased $4.2 million sequentially and operating margin was 5.0%
- Adjusted operating income of $20.8 million increased 17% sequentially and adjusted operating margin was 7.7%
- Adjusted EBITDA of $36.4 million increased 33% sequentially and adjusted EBITDA margin was 13.4%
- Net income was $9.0 million and diluted earnings per share was $0.44; adjusted net income was $15.0 million and adjusted diluted earnings per share was $0.73
"We are very pleased with the second quarter results which included the first full quarter of results from our recent acquisition of Atreus Group ("Atreus") in our On-Demand Talent segment, as well as the results from businessfourzero ("B4Z") in our Heidrick Consulting segment. Even before the positive effects of these acquisitions, each of our lines of business demonstrated organic sequential growth, despite ongoing macro uncertainty and an anticipated return to more normalized levels of business performance. This validates our focus on the steadfast execution of our strategy while maintaining strong profitability," stated Heidrick & Struggles' President and Chief Executive Officer, Krishnan Rajagopalan. "Importantly, the integrations of both our recent acquisitions are progressing smoothly. We are advancing our diversification strategy while continuing to make appropriate investments in our digital capabilities and technologies throughout the company. These initiatives are aimed at providing our clients with the next generation of talent and leadership advisory services, enabling them to achieve higher performance through their leaders and teams in an ever-evolving business landscape."
2023 Second Quarter Results
Consolidated net revenue of $271.2 million compared to record consolidated net revenue of $298.7 million in the 2022 second quarter. Consolidated financial results include the first full quarter of contribution from the Company's recent acquisitions of Atreus and B4Z.
On a sequential basis, 2023 second quarter net revenue increased 13.3% from the 2023 first quarter, 10% of that growth was organic, as the Company experienced growth in Executive Search driven by the Americas and Europe markets, partially offset by a decline in the Asia Pacific market, along with sequential revenue growth in Heidrick Consulting and On-Demand Talent. 2023 second quarter adjusted operating income increased 17.2% and adjusted operating margin increased 30 basis points to 7.7% compared to 7.4% in the 2023 first quarter. Adjusted EBITDA of $36.4 million in the 2023 second quarter increased 33% sequentially and adjusted EBITDA margin increased 190 basis points to 13.4% compared to 11.5% in the 2023 first quarter. 2023 second quarter adjusted net income was $15.0 million compared to $15.6 million in the 2023 first quarter. This generated adjusted diluted earnings per share in the 2023 second quarter of $0.73 compared to $0.76 in the 2023 first quarter.
Executive Search net revenue of $206.8 million compared to net revenue of $253.9 million in the 2022 second quarter reflecting an anticipated market slowdown combined with a return to more normalized operating levels. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 0.3%, or $0.8 million, net revenue decreased 18.2%, or $46.3 million, from the 2022 second quarter. Net revenue decreased 21.3% in the Americas (down 21.2% on a constant currency basis), decreased 5.3% in Europe (down 6.1% on a constant currency basis), and decreased 23.9% in Asia Pacific (down 20.5% on a constant currency basis) when compared to the prior year second quarter. The Social Impact and Industrial practice groups exhibited growth over the prior year.
The Company had 423 Executive Search consultants at June 30, 2023, compared to 388 at June 30, 2022. Productivity, as measured by annualized Executive Search net revenue per consultant, was $1.9 million compared to $2.6 million in the 2022 second quarter, reflecting a higher number of consultants combined with lower revenue. Average revenue per executive search was approximately $143,000 compared to $153,000 in the prior year period. The number of search confirmations decreased 12.7% compared to the year-ago period.
On-Demand Talent net revenue of $39.2 million, an increase of 75.5% compared to net revenue of $22.4 million in the 2022 second quarter, primarily due to the acquisition of Atreus, partially offset by a decrease in the volume of legacy on-demand projects.
Heidrick Consulting net revenue of $25.2 million compared to net revenue of $22.4 million in the 2022 second quarter. The Company had 89 Heidrick Consulting consultants at June 30, 2023, compared to 66 at June 30, 2022.
Consolidated salaries and benefits decreased $28.8 million, or 13.9%, to $178.9 million compared to $207.7 million in the 2022 second quarter. Year-over-year, fixed compensation expense increased $18.8 million due to base salaries and payroll taxes, the deferred compensation plan, reorganization, and retirement and benefits, as well as the acquisitions of Atreus and B4Z, partially offset by a decrease in stock compensation. Variable compensation decreased $47.6 million due to lower bonus accruals related to decreased consultant productivity. Salaries and benefits expense was 66.0% of net revenue for the quarter compared to 69.5% in the 2022 second quarter.
General and administrative expenses increased $5.3 million, or 15.1%, to $40.5 million compared to $35.2 million in the 2022 second quarter. The increase was due to intangible amortization and accretion, office occupancy, IT, and taxes and licenses, partially offset by a decrease in business development travel. As a percentage of net revenue, general and administrative expenses were 14.9% for the 2023 second quarter compared to 11.8% in the 2022 second quarter.
The Company's cost of services was $25.3 million, or 9.3% of net revenue for the quarter, compared to $17.4 million, or 5.8% of net revenue in the 2022 second quarter. This related to an increase in the volume of On-Demand Talent projects driven by the acquisition of Atreus.
The Company's research and development expenses were $5.7 million, or 2.1%, of net revenue for the quarter compared to $4.5 million, or 1.5%, of net revenue for the second quarter 2022.
In the 2023 second quarter, the Company recorded a non-cash goodwill impairment charge of $7.2 million associated with the Company's Heidrick Consulting segment. In the 2022 fourth quarter, the Company conducted its most recent annual goodwill impairment evaluation, which indicated that the carrying value of the Heidrick Consulting reporting unit was less than its fair value. During the 2023 second quarter, the Company acquired B4Z and recorded approximately $7.1 million of goodwill in the Heidrick Consulting reporting unit. Due to the inclusion of goodwill in a reporting unit with a pre-existing fair value shortfall, the Company identified a triggering event and performed an interim goodwill impairment evaluation during the 2023 second quarter, which resulted in the impairment of the recently acquired B4Z goodwill.
Including the previously mentioned non-cash impairment charge, operating income was $13.6 million for the quarter compared to $33.9 million in the 2022 second quarter. Operating income margin was 5.0% versus 11.3% in the 2022 second quarter. Excluding the non-cash impairment charge, adjusted operating income in the 2023 second quarter was $20.8 million and adjusted operating margin was 7.7%.
Adjusted EBITDA was $36.4 million compared to $36.8 million in the 2022 second quarter. Adjusted EBITDA margin was 13.4%, compared to 12.3% in the 2022 second quarter. In Executive Search, adjusted EBITDA was $53.9 million compared to $52.3 million in the prior year period. In On-Demand Talent, adjusted EBITDA was $2.6 million versus $0.6 million in the prior year period. In Heidrick Consulting, adjusted EBITDA was a loss of $1.6 million compared to a loss of $0.1 million in the prior year period.
Net income was $9.0 million and diluted earnings per share was $0.44, with an effective tax rate of 46.8%. This compares to net income of $24.1 million and diluted earnings per share of $1.19, with an effective tax rate of 30.9% in the 2022 second quarter. Excluding the non-cash impairment charge recorded in the 2023 second quarter, adjusted net income was $15.0 million and adjusted diluted earnings per share was $0.73, with an adjusted effective tax rate of 37.7%.
Net cash provided by operating activities was $46.9 million, compared to $82.7 million in the 2022 second quarter. Cash, cash equivalents and marketable securities at June 30, 2023 was $239.0 million compared to $336.6 million at June 30, 2022 and $621.6 million at December 31, 2022. The Company's cash position typically builds throughout the year as employee bonuses are accrued, mostly to be paid out in the first half of the year.
2023 Six Months Results
For the six months ended June 30, 2023, consolidated net revenue was $510.5 million compared to $582.6 million in the first six months of 2022. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 1.0%, or $6.1 million, consolidated net revenue decreased 11.3%, or $65.9 million, compared to the prior year period.
Executive Search net revenue in the first six months of 2023 decreased 20.0%, or $99.2 million, to $397.3 million from $496.5 million in the first six months of 2022. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 1.0%, or $5.1 million, net revenue decreased 19.0%, or $94.1 million. Net revenue decreased 21.5% in the Americas (decreased 21.3% on a constant currency basis), decreased 13.7% in Europe (decreased 11.3% on a constant currency basis), and decreased 21.9% in Asia Pacific (decreased 18.0% on a constant currency basis). Only the Social Impact and Industrial practice groups exhibited growth over the prior year. Productivity was $1.9 million for the first six months of 2023 compared to $2.6 million in the first six months of 2022. The average revenue per executive search was $133,000 in the first six months of 2023 compared to $137,000 the same period in 2022, while search confirmations decreased 17.6%.
On-Demand Talent net revenue in the first six months of 2023 was $70.4 million compared to $45.7 million in the same period of 2022. The increase in net revenue was primarily driven by the acquisition of Atreus, as well as an increase in the volume of legacy on-demand projects.
Heidrick Consulting net revenue in the first six months of 2023 increased 6.3%, or $2.5 million, to $42.9 million from $40.4 million in the first six months of 2022. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 2.0%, or $0.8 million, Heidrick Consulting revenue increased 8.3%, or $3.3 million, compared to the prior year period.
Operating income for the first six months of 2023 was $31.4 million compared to operating income of $64.1 million in the same period of 2022. The operating income margin was 6.1% compared to 11.0% in the first six months of 2022. Excluding the non-cash impairment charge recorded in the 2023 year-to-date period, adjusted operating income was $38.6 million and adjusted operating income margin was 7.6%.
Adjusted EBITDA for the first six months of 2023 was $63.8 million and adjusted EBITDA margin was 12.5%, compared to adjusted EBITDA of $72.5 million and adjusted EBITDA margin of 12.4% for the same period in 2022. In Executive Search, adjusted EBITDA was $102.3 million compared to $104.2 million in the prior year period. In On-Demand Talent, adjusted EBITDA was $1.2 million versus $0.9 million in the prior year period. In Heidrick Consulting, adjusted EBITDA was a loss of $4.3 million compared to a loss of $1.9 million in the prior year period.
Net income for the first six months of 2023 was $24.6 million and diluted earnings per share was $1.19, with an effective tax rate of 38.1%. This compares to net income of $42.6 million and diluted earnings per share of $2.08, with an effective tax rate of 32.2%, in the first six months of 2022. Excluding the restructuring charge recorded in the 2023 year-to-date period, adjusted net income was $30.6 million and adjusted diluted earnings per share was $1.48 with an adjusted effective tax rate of 34.8%.
Dividend
The Board of Directors declared a 2023 second quarter cash dividend of $0.15 per share payable on August 25, 2023, to shareholders of record at the close of business on August 11, 2023.
2023 Third Quarter Outlook
The Company expects 2023 third quarter consolidated net revenue of between $245 million and $265 million, which reflects typical summer seasonality, while acknowledging that continued fluidity in external factors, such as the foreign exchange and interest rate environments, foreign conflicts, inflation and macroeconomic constraints on pricing actions, may impact quarterly results. In addition, this outlook is based on the average currency rates in June 2023 and reflects, among other factors, management's assumptions for the anticipated volume of new Executive Search confirmations, On-Demand Talent projects, and Heidrick Consulting assignments, consultant productivity, consultant retention, and the seasonality of the business along with the current backlog.
Quarterly Webcast and Conference Call
Heidrick & Struggles will host a conference call to review its second quarter results today, July 31, 2023 at 5:00 pm Eastern Time. Participants may access the Company's call and supporting slides through its website at www.heidrick.com or by dialing (888) 440-4091 or (646) 960-0846, conference ID# 6106012. For those unable to participate on the live call, a webcast and copy of the slides will be archived at www.heidrick.com and available for up to 30 days following the investor call.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles (Nasdaq: HSII) is a premier provider of global leadership advisory and on-demand talent solutions, serving the senior-level talent and consulting needs of the world's top organizations. In our role as trusted leadership advisors, we partner with our clients to develop future-ready leaders and organizations, bringing together our services and offerings in executive search, diversity and inclusion, leadership assessment and development, organization and team acceleration, culture shaping and on-demand, independent talent solutions. Heidrick & Struggles pioneered the profession of executive search more than 65 years ago. Today, the firm provides integrated talent and human capital solutions to help our clients change the world, one leadership team at a time. ® www.heidrick.com
Non-GAAP Financial Measures
To supplement the financial results presented in accordance with generally accepted accounting principles in the United States ("GAAP"), Heidrick & Struggles presents certain non-GAAP financial measures. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of comprehensive income, balance sheets or statements of cash flow of the Company.
Non-GAAP financial measures used within this earnings release are adjusted operating income, adjusted operating income margin, adjusted net income, adjusted diluted earnings per share, adjusted effective tax rate, adjusted EBITDA, adjusted EBITDA margin, and consolidated net revenue excluding the impact of exchange rate fluctuations. These measures are presented because management uses this information to monitor and evaluate financial results and trends. Management believes this information is also useful for investors to evaluate the comparability of financial information presented. Reconciliations of these non-GAAP financial measures to the most directly comparable measures calculated and presented in accordance with GAAP are provided as schedules attached to this release.
Adjusted operating income reflects the exclusion of goodwill impairment.
Adjusted operating income margin refers to adjusted operating income as a percentage of net revenue in the same period.
Adjusted net income and adjusted diluted earnings per share reflect the exclusion of goodwill impairment, net of tax.
Adjusted effective tax rate reflects the exclusion of goodwill impairment, net of tax.
Adjusted EBITDA refers to earnings before interest, taxes, depreciation, intangible amortization, equity-settled stock compensation expense, earnout accretion, earnout obligation adjustments, contingent compensation related to acquisitions, deferred compensation plan income and expense, reorganization costs, impairment charges, restructuring charges, and other non-operating income (expense).
Adjusted EBITDA margin refers to adjusted EBITDA as a percentage of net revenue in the same period.
The Company evaluates its results of operations on both an as reported and a constant currency basis. The constant currency presentation is a non-GAAP financial measure, which excludes the impact of fluctuations in foreign currency exchange rates. The Company believes providing constant currency information provides valuable supplemental information regarding its results of operations, consistent with how it evaluates its performance. The Company calculates constant currency percentages by converting its financial results in a local currency for a period using the average exchange rate for the prior period to which it is comparing. This calculation may differ from similarly titled measures used by other companies.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding guidance for the third quarter of 2023. The forward-looking statements are based on current expectations, estimates, forecasts, and projections about the industry in which we operate and management's beliefs and assumptions. Forward-looking statements may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "outlook," "projects," "forecasts," "aim" and similar expressions. Forward-looking statements are not guarantees of future performance, rely on a number of assumptions, and involve certain known and unknown risks and uncertainties that are difficult to predict, many of which are beyond our control. Factors that may cause actual outcomes and results to differ materially from what is expressed, forecasted, or implied in the forward-looking statements include, among other things, our ability to attract, integrate, develop, manage and retain qualified consultants and senior leaders; our ability to prevent our consultants from taking our clients with them to another firm; our ability to maintain our professional reputation and brand name; our clients' ability to restrict us from recruiting their employees; our heavy reliance on information management systems; risks arising from our implementation of new technology and intellectual property to deliver new products and services to our clients; our dependence on third parties for the execution of certain critical functions; the fact that we face the risk of liability in the services we perform; the fact that data security, data privacy and data protection laws and other evolving regulations and cross-border data transfer restrictions may limit the use of our services and adversely affect our business; any challenges to the classification of our on-demand talent as independent contractors; the increased cybersecurity requirements, vulnerabilities, threats and more sophisticated and targeted cyber-related attacks that could pose a risk to our systems, networks, solutions, services and data; the impacts, direct and indirect, of the COVID-19 pandemic (including the emergence of variant strains) or other highly infectious or contagious disease on our business, our consultants and employees, and the overall economy; the aggressive competition we face; the fact that our net revenue may be affected by adverse economic conditions including inflation, the impact of foreign currency exchange rate fluctuations; our ability to access additional credit; social, political, regulatory, legal and economic risks in markets where we operate, including the impact of the ongoing war in Ukraine and the risks of an expansion or escalation of that conflict; unfavorable tax law changes and tax authority rulings; the timing of the establishment or reversal of valuation allowance on deferred tax assets; the fact that we may not be able to align our cost structure with net revenue; any impairment of our goodwill, other intangible assets and other long-lived assets; our ability to execute and integrate future acquisitions; and the fact that we have anti-takeover provisions that could make an acquisition of us difficult and expensive. We caution the reader that the list of factors may not be exhaustive. For more information on these risks, uncertainties and other factors, refer to our Annual Report on Form 10-K for the year ended December 31, 2022, under the heading "Risk Factors" in Item 1A, as updated in Part II of our subsequent Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date of this press release. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Investors & Analysts:
Suzanne Rosenberg, Vice President, Investor Relations
srosenberg@heidrick.com
Media:
Nina Chang, Vice President, Corporate Communications
nchang@heidrick.com
View original content:
SOURCE Heidrick & Struggles International, Inc.
|
https://www.kxii.com/prnewswire/2023/07/31/heidrick-amp-struggles-reports-second-quarter-2023-results/
| 2023-07-31T20:47:41
| 1
|
https://www.kxii.com/prnewswire/2023/07/31/heidrick-amp-struggles-reports-second-quarter-2023-results/
|
(KTLA) – The Los Angeles County Sheriff’s Department is investigating the discovery of a body inside a 55-gallon drum in Malibu Lagoon on Monday.
A park worker first saw the drum floating by the Pacific Coast Highway bridge Sunday night but didn’t think much of it at the time, a spokesperson for the L.A. County Fire Department told Nexstar’s KTLA.
When lifeguards arrived at work Monday morning, they saw the drum in the lagoon and tried to pull it out at which point they discovered the body inside, officials said.
No information about the victim was immediately known.
KTLA helicopter footage showed the black plastic drum standing upright in shallow water and the beach appeared to be closed for the investigation.
Late last spring, a body was found in a barrel in Nevada’s Lake Mead. Authorities said the body may have been there for four decades but have not yet identified the victim, despite identifying other bodies that appeared due to receding water levels.
|
https://www.yourbasin.com/news/national-news/body-found-inside-55-gallon-drum-in-malibu/
| 2023-07-31T20:47:43
| 1
|
https://www.yourbasin.com/news/national-news/body-found-inside-55-gallon-drum-in-malibu/
|
An expert panel with USA Today has nominated Boise State's Blue Turf as one of the Best Attractions for Sports Fans in the United States.
The winner will be determined via online vote, with fans permitted to vote once a day until Monday, August 21 at 12:00 noon.
Vote HERE.
The field at Albertsons Stadium went blue in 1986, and was the first school to have a non-green football field.
Winners will be announced on Friday, September 1.
|
https://www.kivitv.com/news/boise-states-blue-turf-nominated-for-best-attraction-for-sports-fans-in-the-us
| 2023-07-31T20:47:43
| 1
|
https://www.kivitv.com/news/boise-states-blue-turf-nominated-for-best-attraction-for-sports-fans-in-the-us
|
GAINESVILLE, Fla. (AP) — Florida coach Billy Napier opened fall practice talking to his team about expectations — internal ones, anyway.
The once-mighty Gators are mostly an afterthought in the Southeastern Conference these days. Coming off consecutive 6-7 seasons — one in former coach Dan Mullen’s final season and the other in Napier’s inaugural campaign — Florida was picked to finish fifth in the Eastern Division in the league’s annual preseason media poll.
That’s one spot above last.
It was the lowest preseason prognostication for the Gators since also coming in fifth in 2015, former coach Jim McElwain’s first season. Florida responding by winning the East that year. Could it happen again? It would be an unbelievable long shot considering Napier pretty much has an overhauled roster after losing quarterback Anthony Richardson and 14 other starters.
“I really feel like we’re going to shock a lot of people this year as far as the standard is so low right now,” cornerback Jaydon Hill said. “It blows my mind a little bit. But then again, we’ve just got to win games. It just comes down to winning.”
Florida hasn’t won nearly enough for a fanbase that grew accustomed to it under legends Steve Spurrier and Urban Meyer. Although the Gators have enjoyed pockets of success since, they have yet to put it all together in terms of recruiting talent, developing players and building a consistent contender.
Napier had a detailed plan when he took over in November 2021, but it didn’t account for having to navigate a burgeoning transfer portal or a constantly changing name, image and likeness landscape.
So Napier sounds more like a coach entering their first year rather than one expecting the kind of second-year jumps that helped vault Spurrier and Meyer to stardom. He’s implemented several team-building exercises, including moving players into on-campus dorms for the opening week of training camp and rooming them with guys from other position groups.
They’ll eat every meal in an old-school dining hall — no phones allowed — and work on developing leadership as much as perfecting concepts, formations and plays.
“I think it’s important that we connect and try to create crossover relationships in all parts of what we do,” Napier said. “It’s absolutely important to what we do.”
Adding another layer to his unification efforts, Napier has a get-to-know-your-teammate initiative that requires players to be able to provide names and hometowns on the spot for 10 colleagues pictured.
“It’s one thing to know the guy’s first name, but it’s another thing to know his first and last name, where he’s from, part of his story, and I think with time we’ll get to that place,” Napier said. “But it’s about agreeing that there’s an expectation, and then, ‘Hey, if you can do better, you can do better.’ I think that’s the key to the drill. That’s where we’re at as a team.”
It’s a far cry from having to tamp down expectations of making the College Football Playoff or winning championships. No one’s ruled those out in Gainesville, but most would agree they seem more plausible down the road.
Florida returns seven starters from last year’s team and has a number of transfers to work into the mix. Quite possibly the main reason for Florida’s humble preseason forecast is because the team appears locked into starting former Wisconsin quarterback Graham Mertz, who completed 60% of his passes for 5,405 yards, with 38 touchdowns and 26 interceptions, in four years with the Badgers.
Florida lost four-star QB recruit Jaden Rashada in a failed NIL deal in January, leaving Mertz and former Ohio State backup Jack Miller to compete for the starting job. All signs point to Mertz taking the first snap when the Gators open the season at Utah on Aug. 31.
Although Napier appears to have Florida on the path back to national relevancy; the team’s 2024 recruiting class is ranked third behind Georgia and Ohio State, according to 247sports.com. In the meantime, the only expectations he’s focused on are the internal ones.
“The expectation we’re going to establish for each other … should be much higher than any outside narrative or outside opinion,” Napier said. “If I’m walking around the building each day, if I’m living life and I’m most concerned with not letting the people down that are going to be in this team meeting in a couple hours, that’s the most important piece.”
___
AP college football: https://apnews.com/hub/college-football and https://twitter.com/ap_top25. Sign up for the AP Top 25 newsletter here: https://link.apnews.com/join/6nr/morning-wire-newsletter-footer-internal-ads
|
https://fox59.com/sports/ap-sports/ap-florida-enters-year-2-under-billy-napier-amid-lowest-expectations-in-nearly-a-decade/
| 2023-07-31T20:47:45
| 1
|
https://fox59.com/sports/ap-sports/ap-florida-enters-year-2-under-billy-napier-amid-lowest-expectations-in-nearly-a-decade/
|
As school starts to get underway across the U.S. in the coming weeks, many students and teachers will undergo mass shooting drills.
These types of drills have become more popular in recent years due to a number of notable mass shooting incidents at schools throughout the U.S.
While many experts say it's important to be prepared for such incidents, there are concerns that some drills can also cause psychological harm.
SEE MORE: Back-to-school spending higher as sales of electronics rise
Do drills work?
A study published in 2022 in the Journal of School Violencesaid schools that successfully implemented lockdowns had 60% fewer total casualties, with 79% reductions in victims pronounced dead at the scene, even after controlling for other variables during shooting incidents.
Other studies have shown similar results, reaffirming that successful lockdowns reduce casualties.
"There has never been a case where an armed assailant has, you know, breached a locked classroom door. When they've gotten in, it was either unlocked or they were able to like, shoot through glass, like a glass window and get in," said Franci Crepeau-Hobson, training director with the Colorado School Psychology Internship Consortium. "So knowing that kind of informed this idea in part that standard lockdown procedures are effective."
But experts expressed concerns that higher-intensity drills might lead to more harm than good.
One popular program is ALICE Training, which involves training that reportedly goes beyond lockdown-only drills.
"In the chaos of a violent critical incident, every second counts, and ALICE strategies equip civilians with life-saving options that go beyond the traditional and inadequate lockdown-only response," ALICE Training said in a press release.
Representatives for ALICE Training could not be reached for comment. The company's website said it uses "age-appropriate" training for students. Part of that training includes teaching kids how to distract assailants during incidents.
The training has been used at 5,500 schools across the U.S., Alice Training says.
SEE MORE: Secrets to save on back-to-school clothes and other items
Psychological impacts
It is when drills go beyond preparing for lockouts that concerns some experts. Of particular concern are when drills are done without any advanced warning.
"I guess you can kind of imagine that would be traumatic for a child to go through," said Crepeau-Hobson. "I mean, people thought they were gonna die and there was actual trauma. It was that it was that kind of harm that we were really concerned about and also, you know, engaging in, practices that there's no evidence that says these are actually helpful in terms of increasing school safety."
Dr. David J. Schonfeld, who directs the National Center for School Crisis and Bereavement, echoes Crepeau-Hobson's concerns. He said oftentimes trainings are done from the perspective of first responders who may not fully understand child development when developing their training.
"Children and sometimes the staff are not informed or aware that it's actually an exercise and feel that it is a real event," Schonfeld said. "This is a kind of extreme way to, to bring realism to the drill and it obviously can have significant emotional distress because the individual feels they're actually under attack."
Schonfeld said some of these drills can become way too realistic for young kids to handle.
"There really are simulations that are meant to mimic the actual advance, but they don't, they don't require deception, but they try and recreate the experience of being in an active shooter drill to varying degrees," he said. "So that might mean that they use actual weapons, they might use the sound of gunshots, hopefully blanks, as opposed to live ammunition. They will have individuals that maybe have makeup, to kind of mimic wounds or to mimic blood, they would have predatory and aggressive acting.
"So they might have someone not just go and check to see if the door knobs are locked in the various classrooms, but act as if they're trying to get into the door in a way that, you know, simulates someone who's actually trying to break in. And so we feel that those kind of exercises and drills are not necessary."
Tips for parents, teachers
With many students going through lockdown and active shooter trainings in the coming weeks, Crepeau-Hobson said there are a few things parents and teachers should be looking for.
For instance, there are questions parents can ask of administrators.
"I would ask, you know, is there a specific program you're using? Have the adults been trained? Is there evidence that this works? Have the kids been informed? Have the staff been informed? I'm assuming they would if the parents know what have you told the kids about it? Have you explained what's going to happen? Have you explained why you do this?" Crepeau-Hobson said.
"Because we know when we have those conversations with kids and explain this is why we do these drills, that actually helps to increase perceptions of safety and security."
Teachers may also have to deal with questions about drills immediately after such trainings.
"We can typically identify kids who might have a harder time, maybe kids who already have special needs or they have some kind of mental health challenge or something going on," Crepeau-Hobson said said. "And so we might be particularly careful with them, but if we do it right and we talk about it ahead of time, then we have a chance to talk about it afterwards, telling teachers it's OK to process it with your kids."
Schonfeld also suggests that educators understand children may not always be forthright with showing their feelings after such drills.
"I do think teachers if they're empathic and supportive can convey a culture or climate in a classroom where kids know they can come forward and talk to them and or talk to others in the school if they have distress from things that have happened or are happening in their lives, but we can't assume that they're going to disclose 100% of those experiences or feelings," he said.
Trending stories at Scrippsnews.com
|
https://www.kxlf.com/do-some-school-active-shooting-drills-do-more-harm-than-good
| 2023-07-31T20:47:47
| 0
|
https://www.kxlf.com/do-some-school-active-shooting-drills-do-more-harm-than-good
|
Imagine stepping on stage with your favorite artist in VR from your browser. Discover secret rooms, join live Q&As with other fans, shop for merch, and more. Connect with your audience like never before.
NEW YORK, July 31, 2023 /PRNewswire/ -- BR Marketing Group, a leading luxury brand marketing agency in NYC, is excited to offer its new Web Virtual Reality (WebVR) service to clients worldwide. With this service, clients can create memorable marketing experiences in WebVR. WebVR is a technology that allows users to enjoy virtual reality from their browsers, without any extra hardware or software.
BR Marketing Group has a team of creative experts who design and promote WebVR experiences that capture the unique essence of each brand. Whether it's a concert, a store, a gallery, or more BR Marketing Group can bring it to life in WebVR.
"Our service stands out because we embrace the future. We know how innovative technologies like WebVR can transform the customer experience," said Andrea Canas, CEO of BR Marketing Group.
- Drake, global superstar, has recently taken his concerts and online store to the next level by adding immersive technology for an interactive virtual experience. He is not alone. Luxury brands and artists are following suit.
- Revenue in the VR Advertising market is projected to reach US$161.70m in 2023, revenue is expected to show an annual growth rate (CAGR 2023-2027) of 2.33%, resulting in a projected market volume of US$177.30m by 2027, according to a recent study.
WebVR is still a new and fast-growing tech, able to give immersive, interactive, awe-inspiring experiences. WebVR also connects with IRL events, enabling users to explore real-world objects, locations, and people through VR.
To get more info on WebVR or work with BR Marketing Group for your next virtual or IRL event, visit us at brmarketgroup.com or call 332-600-4466.
About BR Marketing Group
As one of the first creative agencies to offer WebVR immersive services, BR Marketing Group combines its web development, design, and marketing skills to create amazing VR events that connect the virtual and physical worlds.
BR Marketing Group is a leading luxury brand marketing agency in NYC, led by Andrea Cañas, a visionary Latina leader. She and her team of creative experts' craft captivating and unforgettable marketing experiences that bring out the unique essence of each brand they work with.
View original content to download multimedia:
SOURCE BR Marketing Group
|
https://www.wibw.com/prnewswire/2023/07/31/br-marketing-group-launches-webvr-immersive-service-new-way-boost-brand-loyalty-engagement/
| 2023-07-31T20:47:48
| 0
|
https://www.wibw.com/prnewswire/2023/07/31/br-marketing-group-launches-webvr-immersive-service-new-way-boost-brand-loyalty-engagement/
|
PORT ANGELES, Washington (WJW) – An 8-year-old child was attacked by a cougar at Olympic National Park’s Lake Angeles on Saturday evening.
The child was with their family at Lake Angeles, south of Port Angeles, when the attack happened Saturday night, the National Park Service said Monday.
“The cougar casually abandoned its attack after being yelled and screamed at by the child’s mother,” NPS wrote in a news release. The child suffered only minor injuries and was taken to a local hospital for evaluation.
Park officials then evacuated the remaining campers in the Lake Angeles area, closing the space and Heather Park to the public. Olympic National Park wildlife biologist Tom Kay said in a statement that the decision to close the Lake Angeles Trail, Heather Park Trail, Switchback Trail, and the entire Klahhane Ridge Trail was made “out of an abundance of caution.”
Early Sunday morning, park law enforcement and wildlife personnel who specialize in cougar tracking were dispatched to the last known location of the cougar at Lake Angeles, the park service reported. If located, the cougar will be euthanized and removed from the park for a necropsy.
“This may provide clues as to why the animal attacked since cougars are rarely seen and attacks on humans are extraordinarily rare,” park officials said. “Olympic National Park has extensive protocols in place for wildlife observations, interactions, and attacks and the lethal removal of this cougar is in line with these protocols.”
Because Olympic National Park is considered “cougar territory,” NPS recommends visitors be prepared for the encounter. They should not hike or jog alone, and children should remain near adults. Pets should also be left at home.
Should you encounter a cougar, you should remain calm and avoid running, according to wildlife experts. Do your best to appear as large as possible, continue watching the animal, and be loud. NPS also recommends throwing items like rocks or sticks at the cougar.
There have been no recent deaths caused by cougars in Olympic National Park, according to NPS data.
It’s not the first wildlife attack in the national parks this year, though.
Last week, a woman was found dead after an “apparent bear encounter” near Yellowstone National Park. Earlier this month, a woman in the park suffered “significant injuries” after being gored by a bison.
The park warns that between mid-July and mid-August, bison are in mating season and “can become agitated more quickly.”
|
https://www.yourbasin.com/news/national-news/child-8-attacked-by-cougar-in-olympic-national-park-saved-by-mother/
| 2023-07-31T20:47:49
| 0
|
https://www.yourbasin.com/news/national-news/child-8-attacked-by-cougar-in-olympic-national-park-saved-by-mother/
|
DENVER, July 31, 2023 /PRNewswire/ -- The Principal Real Estate Income Fund (NYSE:PGZ) announces the sources of a distribution paid on July 31, 2023 of $0.1050 per share to shareholders of record at the close of business on July 18, 2023, pursuant to the Fund's managed distribution plan. This press release is issued as required by an exemptive order granted to the Fund by the U.S. Securities and Exchange Commission and includes the notice below sent to shareholders regarding the source of the distribution.
Statement Pursuant to Section 19(a) of the Investment Company Act of 1940
The following table sets forth the estimated amount of the sources of distribution for purposes of Section 19 of the Investment Company Act of 1940, as amended, and the related rules adopted thereunder. In accordance with generally accepted accounting principles ("GAAP"), the Fund estimates the following percentages, of the total distribution amount per share, attributable to (i) current and prior fiscal year net investment income, (ii) net realized short-term capital gain, (iii) net realized long-term capital gain and (iv) return of capital or other capital source as a percentage of the total distribution amount. These percentages are disclosed for the current distribution as well as the fiscal year-to-date cumulative distribution amount per share for the Fund.
The Fund estimates that it has distributed more than its income; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with 'yield' or 'income'.
The timing and character of distributions for federal income tax purposes are determined in accordance with income tax regulations, which may differ from GAAP. As such, all or a portion of this distribution may be reportable as taxable income on your 2023 federal income tax return. The final tax character of any distribution declared in 2023 will be determined in January 2024 and reported to you on IRS Form 1099-DIV.
The amounts and sources of distributions reported in this 19(a) Notice are only estimates and not for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.
Presented below are return figures, based on the change in the Fund's Net Asset Value per share ("NAV"), compared to the annualized distribution rate for this current distribution as a percentage of the NAV on the last day of the month prior to distribution record date.
While the NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market. Past performance does not guarantee future results. Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Plan.
Furthermore, the Board of Trustees reviews the amount of any potential distribution and the income, capital gain or capital available. The Board of Trustees will continue to monitor the Fund's distribution level, taking into consideration the Fund's net asset value and the financial market environment. The Fund's distribution policy is subject to modification by the Board of Trustees at any time. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.
Please retain this document for your records.
ALPS Advisors, Inc. is the investment adviser to the Fund.
Principal Real Estate Investors LLC is the investment sub-adviser to the Fund. Principal Real Estate Investors LLC is not affiliated with ALPS Advisors, Inc. or any of its affiliates.
ALPS Portfolio Solutions Distributor, Inc. is the FINRA Member.
PRE000386 7/31/2024
View original content:
SOURCE Principal Real Estate Income Fund
|
https://www.wbtv.com/prnewswire/2023/07/31/principal-real-estate-fund-announces-notification-sources-distribution/
| 2023-07-31T20:47:48
| 1
|
https://www.wbtv.com/prnewswire/2023/07/31/principal-real-estate-fund-announces-notification-sources-distribution/
|
Published: Jul. 31, 2023 at 3:15 PM CDT|Updated: 32 minutes ago
Second Quarter Highlights
Second quarter 2023 net income attributable to Huntsman of $19 million compared to $228 million in the prior year period; second quarter 2023 diluted earnings per share of $0.11 compared to $1.10 in the prior year period.
Second quarter 2023 adjusted net income attributable to Huntsman of $39 million compared to $250 million in the prior year period; second quarter 2023 adjusted diluted earnings per share of $0.22 compared to $1.21 in the prior year period.
Second quarter 2023 adjusted EBITDA of $156 million compared to $410 million in the prior year period.
Second quarter 2023 net cash provided by operating activities from continuing operations was $40 million. Free cash flow from continuing operations was a use of cash of $11 million for the second quarter 2023 compared to a source of cash of $178 million in the prior year period.
Repurchased approximately 3.8 million shares for approximately $98 million in the second quarter 2023.
THE WOODLANDS, Texas, July 31, 2023 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today reported second quarter 2023 results with revenues of $1,596 million, net income attributable to Huntsman of $19 million, adjusted net income attributable to Huntsman of $39 million and adjusted EBITDA of $156 million.
Peter R. Huntsman, Chairman, President, and CEO, commented:
"During the quarter, business activity in each of our core regions remained under pressure, although we did see demand fundamentals in many of our core markets stabilize, albeit at a lower level than the prior year. We continued to drive efficiencies in our cost structure which will ensure we are well positioned to improve profitability once demand returns to a more normalized level. We remain positive on the long-term trends and value we will capture in energy efficiency and lightweighting in the construction, transportation, and industrial markets. Over the past several years we have made a significant effort to reduce leverage and drive capital discipline. The output of this effort is now allowing us to return significant amounts of capital to shareholders during a year which for the chemical industry may end up being just as, if not more, challenging than the pandemic year 2020. Our financial strength is also allowing us to evaluate both organic and in-organic investment opportunities to strengthen our Company for the long-term, however, we will continue to be disciplined with our available capital and protect our investment grade rating."
Segment Analysis for 2Q23 Compared to 2Q22
Polyurethanes
The decrease in revenues in our Polyurethanes segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes, lower MDI average selling prices and the negative impact of foreign currency exchange rate movements against the U.S dollar. Sales volumes decreased primarily due to lower demand, primarily in the Americas. MDI average selling prices decreased primarily due to less favorable supply and demand dynamics. The decrease in segment adjusted EBITDA was primarily due to lower sales volumes, lower MDI margins, the negative impact of foreign currency exchange rate movements against the U.S. dollar and a gain from an insurance settlement received in the second quarter of 2022, partially offset by higher equity earnings from our minority-owned joint venture in China and cost savings achieved from our cost optimization programs.
Performance Products
The decrease in revenues in our Performance Products segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes and reduced average selling prices, partially offset by improved sales mix. Sales volumes decreased in all regions primarily due to slowing construction activity, and reduced demand in coatings and adhesives, lubes and other industrial markets. The decrease in segment adjusted EBITDA was primarily due to decreased sales volumes and lower average selling prices.
Advanced Materials
The decrease in revenues in our Advanced Materials segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes, partially offset by higher average selling prices. Sales volumes decreased primarily due to reduced customer demand in our infrastructure markets and the deselection of lower margin business. Average selling prices increased largely due to improved sales mix. The decrease in segment adjusted EBITDA was primarily due to lower sales volumes.
Corporate, LIFO and other
For the three months ended June 30, 2023, adjusted EBITDA from Corporate and other was a loss of $38 million, which remained the same as a loss of $38 million for the same period of 2022.
Liquidity and Capital Resources
During the three months ended June 30, 2023, our free cash flow from continuing operations was a use of cash of $11 million as compared to a source of cash of $178 million in the same period of 2022. As of June 30, 2023, we had approximately $1.9 billion of combined cash and unused borrowing capacity.
During the three months ended June 30, 2023, we spent $51 million on capital expenditures from continuing operations as compared to $65 million in the same period of 2022. During 2023, we expect to spend between $230 million to $250 million on capital expenditures.
Income Taxes
In the second quarter of 2023, our effective tax rate was 46% and our adjusted effective tax rate was 39%. We expect our 2023 adjusted effective tax rate to be approximately 26% to 29%. We expect our long-term adjusted effective tax rate to be approximately 22% to 24%. Our second quarter 2023 tax expense was negatively impacted by an $8 million non-cash valuation allowance increase.
Earnings Conference Call Information
We will hold a conference call to discuss our second quarter 2023 financial results on Tuesday, August 1, 2023, at 10:00 a.m. ET.
The conference call will be accompanied by presentation slides that will be accessible via the webcast link and Huntsman's investor relations website, www.huntsman.com/investors. Upon conclusion of the call, the webcast replay will be accessible via Huntsman's website.
Upcoming Conferences During the third quarter 2023, a member of management is expected to present at: UBS Chemical Conference on September 6, 2023 Jefferies Industrials Conference on September 7, 2023
A webcast of the presentation, if applicable, along with accompanying materials will be available at www.huntsman.com/investors.
About Huntsman: Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2022 revenues of approximately $8 billion from our continuing operations. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 60 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 7,000 associates within our continuing operations. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Forward-Looking Statements: This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, divestitures or strategic transactions, business trends and any other information that is not historical information. When used in this press release, the words "estimates," "expects," "anticipates," "likely," "projects," "outlook," "plans," "intends," "believes," "forecasts," or future or conditional verbs, such as "will," "should," "could" or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, management's examination of historical operating trends and data, are based upon our current expectations and various assumptions and beliefs. In particular, such forward-looking statements are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the Company's operations, markets, products, prices and other factors as discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"). Significant risks and uncertainties may relate to, but are not limited to, increased energy costs in Europe, inflation and resulting monetary tightening in the US, geopolitical instability, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of the Company's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions and manufacturing optimization improvements in the Company's businesses and to realize anticipated cost savings, and other financial, operational, economic, competitive, environmental, political, legal, regulatory and technological factors. Any forward-looking statement should be considered in light of the risks set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022, which may be supplemented by other risks and uncertainties disclosed in any subsequent reports filed or furnished by the Company from time to time. All forward-looking statements apply only as of the date made. Except as required by law, the Company undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.
|
https://www.kxii.com/prnewswire/2023/07/31/huntsman-announces-second-quarter-2023-earnings/
| 2023-07-31T20:47:48
| 0
|
https://www.kxii.com/prnewswire/2023/07/31/huntsman-announces-second-quarter-2023-earnings/
|
MCCALL, Idaho — Authorities have reported that the Elkhorn fire in the Salmon River corridor has doubled in size, swelling to almost 25,000 acres so far and becoming the largest active fire in Idaho.
Check out the rapid growth of the Elk Horn Fire over the Salmon River today in central ID. #idwx #orwx pic.twitter.com/u3JboxaNDv
— NWS Boise (@NWSBoise) July 31, 2023
In response to the fire, beginning today there will be no launching permitted in the Salmon River Wilderness section from Corn Creek to Vinegar Creek until, at least, Wednesday, August 2.
Boaters holding a permit within five days of the closure dates, who are impacted by this closure, are being offered a rollover option for next season on the same launch date by the Salmon-Challis National Forest permitting administrators.
Updates on access limitations due to the fire in the permitted area will be given as they become available.
RELATED | Elkhorn Fire now 10,000 acres, crossing river into the Nez Perce-Clearwater Forest
For Rollover information and other river information call the Salmon – Challis National Forest River Clerk at 208-756-5587 or 208-481-2625.
The Payette National Forest has a public wildfire information hotline for fire information – 208-634-0820 and follow the Payette National Forest on Twitter at @PayetteForest, and on Facebook at U.S. Forest Service – Payette National Forest.
|
https://www.kivitv.com/news/elkhorn-fire-closes-salmon-river-rafting-in-wilderness-section
| 2023-07-31T20:47:49
| 1
|
https://www.kivitv.com/news/elkhorn-fire-closes-salmon-river-rafting-in-wilderness-section
|
The nights before games were always the toughest times for Darrelle Revis.
One of the NFL’s most dominant cornerbacks would lie in bed thinking about what he needed to accomplish the next day on the field. Revis would go over the game plan, the notes from his film studies, the receivers’ routes and their tendencies.
Over and over until he’d fall asleep.
He’d wake up mentally prepared — and that brief anxiety would be replaced by supreme confidence.
“Restless nights, I’d say to start with,” Revis said. “Covering some of the greatest wide receivers in the game and future Hall of Famers at that time, I was probably the most nervous out of anybody on the field if I had that assignment.
“For me, it’s kind of looking at yourself in the mirror and saying to yourself, ‘It’s either me or him. I just have to stand up to the challenge.’ For me, I just took on the responsibility to take that assignment and try to shut him down.”
Revis did exactly that for most of his brilliant 11-year NFL career, including eight seasons over two stints with the New York Jets.
So much so, he earned the popular “Revis Island” nickname, a fitting tribute to how he’d single-handedly make many receivers disappear — lost on an island — from opponents’ game plans.
“This is a once-in-a-lifetime type corner,” former Jets coach Rex Ryan once said. “And that’s a fact.”
Tough to argue, and voters for the Pro Football Hall of Fame made Revis a first-ballot inductee following a career during which he routinely locked down one side of the field with his air-tight coverage.
He also gave plenty of opposing offensive coordinators plenty of restless nights of their own.
“I just felt I had the ability and skill set and the coaching staff who believed in me that I had the ability to shut them down,” Revis said.
That was perhaps most evident during the 2009 season, when Revis had arguably the greatest year at his position.
Ever.
Randy Moss, Chad Johnson, Andre Johnson, Steve Smith, Terrell Owens, Reggie Wayne and Roddy White were all non-factors against the Jets that season — because they couldn’t shake Revis.
“I shouldn’t have even suited up,” Wayne said after having just a 1-yard catch in Indianapolis’ playoff loss to New York that season.
Green Bay cornerback Charles Woodson won the AP Defensive Player of the Year award that year, but Ryan insisted Revis should’ve been the choice after having “the best year a corner has ever had.”
Revis had six interceptions and set an NFL record that still stands with 31 passes defensed that season. He never really came close to matching those marks in any season the rest of his career — because teams simply stopped throwing his way.
That was the ultimate sign of respect.
“It was a very comforting thing as a player that we’d have a guy that can take away the greatest weapon of the other team’s offensive players,” former Jets center and long-time teammate Nick Mangold said. “So it was very much like a security blanket, like, we’ve got him, so we’re good.”
Revis was drafted by the Jets out of the University of Pittsburgh with the 14th overall pick in 2007 when they traded up 11 spots to add a player they believed could change their defense. And he certainly delivered, making an instant impact under coach Eric Mangini before thriving as the heart of Ryan’s defense.
“One of the highlights for me is just being drafted,” Revis said. “Just fulfilling that dream. Just the hills I had to run at an incline, the abs, the pushups, the overtime, just put into everything to try to even dare myself to be one of the best or one of the greatest or amount to be somewhat of the next Deion Sanders, in a way.”
The comparisons quickly became a regular thing for Revis, whose abilities were often measured up against the likes of Sanders, Woodson, Rod Woodson, Ty Law, Champ Bailey and Mel Blount.
Until the debates began about whether Revis was actually the best cornerback ever.
That’s subjective, of course, with some pointing out Revis’ relatively short period of greatness. A knee injury wiped out his 2012 season and a contract dispute — he had a few of those, helping set the market for cornerbacks — ended with him being traded to Tampa Bay the following offseason.
Revis won a Super Bowl the next year with New England, irking Jets fans, but he returned to New York in 2015 and played two more seasons for his original team. After a short stint with Kansas City in 2017, Revis retired. He was inducted into the Jets’ ring of honor last year.
His playing legacy came with his performance in games, but he built a reputation for striving to be great with his intense approach during practice. Revis would get on teammates who weren’t giving their all, and his goal was to not give up a catch to anyone.
And if he did, Revis would be ticked off. About catches that didn’t even count — to everyone other than Revis.
“Every practice, to him, was a game,” Mangold said. “So he was going out there and no one was going to catch a ball on him. It was the result of his competitive nature. He was always working to win.”
—
AP NFL: https://apnews.com/hub/nfl and https://twitter.com/AP_NFL
|
https://fox59.com/sports/ap-sports/ap-revis-shut-down-his-nerves-and-then-the-nfls-best-wide-receivers-on-his-way-to-the-hall-of-fame/
| 2023-07-31T20:47:51
| 0
|
https://fox59.com/sports/ap-sports/ap-revis-shut-down-his-nerves-and-then-the-nfls-best-wide-receivers-on-his-way-to-the-hall-of-fame/
|
Lori Vallow Daybell was sentenced to life in prison without the possibility of parole Monday for the murders of her two youngest children and conspiring to kill her husband's first wife, bringing a close to the so-called "Doomsday Cult Mom" case.
This is the maximum sentence possible for Vallow Daybell, who had pleaded not guilty to the charges against her in her five-week trial. It ended in May, when a jury unanimously found the Idaho mom guilty of two counts of first-degree murder and conspiracy to commit first-degree murder.
The case centered on bizarre claims Vallow Daybell made about her two kids, 16-year-old Tylee Ryan and 7-year-old Joshua "JJ" Vallow. She and her husband, who justified the murders using religious beliefs, claimed the two kids were "dark" and they were "light" and that she was God's vessel to rid the world of their kind.
Before the sentence was handed down, Vallow Daybell again used religion in her defense. She quoted Bible verses about how people shouldn't judge others while suggesting her dead kids and Tammy Daybell weren't murdered at all.
"Jesus Christ knows that no one was murdered in this case," she said. "Accidental deaths happen. Suicides happen. Fatal side effects from medication happen."
Others who spoke Monday focused on the grief and trauma they feel at the hands of Vallow Daybell, including her estranged oldest son Colby Ryan and Tammy Daybell's sister.
SEE MORE: Lori Vallow Daybell sentencing: Here's what to expect
"Tylee will never have the opportunity to become a mother, wife or have the career she was destined to have. JJ will never be able to grow and spread his light with the world the way he did," the statement said. "I've lost the opportunity to share life with the people I love the most. I have lost my sister, father, brother and my mother. "I pray for healing for everyone involved, including those who took the lives of everyone we loved."
"Why? Why plan something so heinous?" Samantha Gwilliam said. "You are not exalted beings, and your behavior makes you ineligible to be one. Because of the choices you made, my family lost a beloved mother, sister and daughter.”
The two kids were last seen in September 2019, and Tammy Daybell died in October, just weeks before Vallow Daybell married her fifth husband Chad Daybell.
Tammy Daybell's autopsy showed she had been asphyxiated, and her body was bruised. When The children's bodies were found buried in Chad Daybell's yard in the summer of 2020, JJ had also been asphyxiated, and Tylee had been stabbed.
Vallow Daybell now faces two other cases in Arizona, both with a charge of conspiracy to commit murder.
One case centers on conspiring with her brother, Alex Cox, who shot and killed Vallow Daybell's fourth husband, Charles Vallow, in 2019. Cox said he acted in self-defense, and he died of natural causes before being charged.
The other case Vallow Daybell faces involves her niece's ex-husband, who survived a murder attempt the same year.
Vallow Daybell's husband, Chad Daybell, is awaiting trial on the same charges. His trial is expected to begin April 1, 2024.
Trending stories at Scrippsnews.com
|
https://www.kxlf.com/lori-vallow-daybell-sentenced-to-life-in-prison-for-murder-of-2-kids
| 2023-07-31T20:47:53
| 1
|
https://www.kxlf.com/lori-vallow-daybell-sentenced-to-life-in-prison-for-murder-of-2-kids
|
BRIGHTON, Iowa (AP) — You-pick farms are struggling through heat, drought and haze as customers cancel picking appointments and crops across Iowa refuse to grow.
These farms offer visitors the chance to harvest their own produce straight from the tree, bush or ground.
But this summer marks Iowa’s third year in a row of drought. And that is hurting farmers who grow water-intensive crops like blueberries and strawberries that are particularly sensitive to heat and drought, the Cedar Rapids Gazette reported.
Kim Anderson told The Gazette that her well started faltering during last summer’s heat and drought at her 5-acre Blueberry Bottom Farm near Brighton in southeastern Iowa.
Many of her blueberry bushes became parched. And recently, for the first time in the farm’s five-season history, she had to cancel a day of picking appointments because there weren’t enough ripe berries.
“I just never anticipated something like this, that the well wouldn’t have enough water,” she said.
Similarly, Dean Henry told The Gazette that these are the worst conditions he has seen in his 56 years of operating the Berry Patch Farm in Nevada in central Iowa.
Henry said the Iowa Department of Natural Resources restricted his well water usage from 20 acres a day to 1 acre a day. But his strawberry plants need lots of water.
This year, his entire crop failed.
The heat has affected customers too. Some you-pick farms reported a decrease in customer visits, according to The Gazette. If people do come, they aren’t staying as long as normal to take in the entertainment at the farms, like picnic tables or games.
Smoke from Canadian wildfires also caused Iowa skies to grow hazy and air quality to be poor several times this summer. Customers canceled their appointments on especially hazy days, Anderson said.
|
https://www.kron4.com/news/business/ap-business/ap-you-pick-farms-lose-customers-and-crops-through-heat-drought-and-haze-in-iowa/
| 2023-07-31T20:47:53
| 1
|
https://www.kron4.com/news/business/ap-business/ap-you-pick-farms-lose-customers-and-crops-through-heat-drought-and-haze-in-iowa/
|
Total new annualized premiums up 11%; strong capital position
CARMEL, Ind., July 31, 2023 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) today reported net income of $73.7 million, or $0.64 per diluted share, in 2Q23 compared to $233.3 million, or $1.99 per diluted share, in 2Q22. Net operating income (1) was $62.3 million, or $0.54 per diluted share, in 2Q23 compared to $135.1 million, or $1.15 per diluted share, in 2Q22.
"Production was strong in both our Consumer and Worksite Divisions, with notable sales increases in Life, Medicare Supplement and Supplemental Health, driven by continued growth in producing agent counts," said Gary C. Bhojwani, chief executive officer.
"Variable investment income results improved sequentially, yet reflect a tough comparable in the second quarter of 2022 when results reached a five-year high. Health claims impacted our results in the quarter. We expect this elevated claims experience to moderate in the second half of the year, based on leading indicators. Our long-term view of the Health business remains positive."
"New money rates were once again strong in the quarter at 6.34%, which drove continued improvement in the earned yield on investments allocated to insurance products. Our consolidated risk based capital (RBC) ratio of 386% was comfortably above our target as was our holding company liquidity of $176 million. Free cash flow generation in the quarter was robust."
Second Quarter 2023 Highlights (as compared to the corresponding period in the prior year where applicable)
- Total Health insurance new annualized premiums ("NAP") (4) up 15%; total Life insurance NAP up 8%
- Medicare Supplement NAP up 29%; Consumer Division field agent-sold Life insurance NAP up 20%
- Consumer Division field producing agent count up 8%; Worksite Division producing agent count up 32%
- Returned $47.4 million to shareholders
- Book value per share was $17.56; book value per diluted share, excluding accumulated other comprehensive loss,(2) was $32.34
- Return on equity ("ROE") of 14.8%; operating ROE, as adjusted,(6) of 8.0%
Adoption of New Accounting Standard
As previously disclosed, we adopted ASU 2018-12 related to targeted improvements to the accounting for long-duration insurance contracts effective January 1, 2023. We selected the modified retrospective transition method except for market risk benefits where we were required to use the full retrospective approach. All prior periods presented herein have been recast in accordance with the new standard. As a result of the adoption of the new guidance, shareholders' equity as of December 31, 2022, increased $368.0 million and was comprised of increases to retained earnings and accumulated other comprehensive income (loss) of $232.2 million and $135.8 million, respectively. Net income and operating earnings (1) for the second quarter of 2022 increased $97.2 million and $35.0 million, respectively. Concurrent with the adoption of the new guidance, we also updated the method of determining non-operating earnings for our fixed indexed annuities to better isolate the volatile non-economic accounting impacts of that line of business.
INSURANCE OPERATIONS
Annuity products accounted for 26 percent of the Company's margin for the quarter and annuity premiums collected decreased 8 percent in 2Q23 compared to 2Q22.
Health products accounted for 48 percent of the Company's insurance margin for the quarter and 63 percent of insurance policy income.
Life products accounted for 26 percent of the Company's insurance margin for the quarter and 36 percent of insurance policy income.
Sales of health products were up 15 percent and sales of life products were up 8 percent in 2Q23 compared to 2Q22.
Total allocated expenses were $149.5 million, down 2 percent from 2Q22.
____________________
____________________
The fair value of CNO's available for sale fixed maturity portfolio was $21.0 billion compared with an amortized cost of $23.6 billion. Net unrealized losses were comprised of gross unrealized gains of $106.1 million and gross unrealized losses of $2,710.8 million. The allowance for credit losses was $66.1 million at June 30, 2023.
At both amortized cost and fair value, 94 percent of fixed maturities, available for sale, were rated "investment grade".
Non-Operating Items
Net investment losses in 2Q23 were $31.3 million including the unfavorable change in the allowance for credit losses of $9.9 million which was recorded in earnings. Net investment losses in 2Q22 were $27.1 million including the unfavorable change in the allowance for credit losses of $23.7 million which was recorded in earnings.
During 2Q23 and 2Q22, we recognized a decrease in earnings of $4.0 million and $21.7 million, respectively, due to the net change in market value of investments recognized in earnings.
During 2Q23 and 2Q22, we recognized an increase in earnings of $50.4 million and $160.6 million, respectively, resulting from changes in the estimated fair value of embedded derivative liabilities and market risk benefits related to our fixed indexed annuities. Such amounts include the impacts of changes in market interest rates and equity impacts used to determine the estimated fair values of the embedded derivatives and market risk benefits.
In 2Q22, other non-operating items included an increase in earnings of $14.0 million for the mark-to-market change in the agent deferred compensation plan liability which was impacted by changes in the underlying actuarial assumptions used to value the liability. We recognize the mark-to-market change in the estimated value of this liability through earnings as assumptions change.
Statutory (based on non-GAAP measures) and GAAP Capital Information
Our consolidated statutory risk-based capital ratio was estimated at 386% at June 30, 2023, reflecting estimated 2Q23 statutory operating income of $37 million (and $76 million in the first six months of 2023) and the payment of insurance company dividends (net of capital contributions) to the holding company of $40.5 million during 2Q23 (and $74.7 million in the first six months of 2023).
During 2Q23, we repurchased $30.0 million of common stock under our securities repurchase program (including $0.9 million of repurchases settled in 3Q23). We repurchased 1.4 million common shares at an average cost of $22.28 per share. As of June 30, 2023, we had 113.7 million shares outstanding and had authority to repurchase up to an additional $641.8 million of our common stock. During 2Q23, dividends paid on common stock totaled $17.4 million.
Unrestricted cash and investments held by our holding company were $176 million at June 30, 2023, compared to $167 million at December 31, 2022.
Book value per common share was $17.56 at June 30, 2023 compared to $15.47 at December 31, 2022. Book value per diluted share, excluding accumulated other comprehensive income (loss) (2), was $32.34 at June 30, 2023, compared to $31.89 at December 31, 2022.
The debt-to-capital ratio was 36.3 percent and 39.2 percent at June 30, 2023 and December 31, 2022, respectively. Our debt-to-total capital ratio, excluding accumulated other comprehensive income (loss) (3) was 23.4 percent at both June 30, 2023 and December 31, 2022.
Return on equity for the trailing four quarters ended June 30, 2023 and 2022, was 14.8% and 20.9%, respectively. Operating return, excluding significant items, on equity, excluding accumulated other comprehensive income (loss) and net operating loss carryforwards (6) for the trailing four quarters ended June 30, 2023 and 2022, was 8.0% and 12.7%, respectively.
In this news release, CNO includes non-GAAP measures to enhance investors' understanding of management's view of the business. The non-GAAP measures are not a substitute for GAAP, but rather a supplement to increase transparency by providing broader perspective. CNO's definitions of non-GAAP measures may differ from other companies' definitions. More detailed information including various GAAP and non-GAAP measurements are located at CNOinc.com in the Investors section under SEC Filings.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements within the meaning of federal securities laws. These prospective statements reflect management's current expectations, but are not guarantees of future performance. Accordingly, please refer to CNO's cautionary statement regarding forward-looking statements, and the business environment in which the Company operates, contained in the Company's Form 10-K for the year ended December 31, 2022 and any subsequent Form 10-Q or Form 10-K on file with the Securities and Exchange Commission and on the Company's website at CNOinc.com in the Investors section. CNO specifically disclaims any obligation to update or revise any forward-looking statement because of new information, future developments or otherwise.
EARNINGS RELEASE CONFERENCE CALL WEBCAST:
The Company will host a conference call to discuss results on August 1, 2023 at 11:00 a.m. Eastern Time. During the call, we will be referring to a presentation that will be available at the Investors section of the company's website.
To participate by dial-in, please register at https://www.netroadshow.com/events/login?show=5ac4628b&confId=53584. Upon registering, you will be provided with call details and a registrant ID used to track attendance on the conference call. Reminders will also be sent to registered participants via email.
For those investors who prefer to listen to the call online, we will be broadcasting the call live via webcast. The event can be accessed through the Investors section of the company's website: ir.CNOinc.com. Participants should go to the website at least 15 minutes before the event to register and download any necessary audio software.
ABOUT CNO FINANCIAL GROUP
CNO Financial Group, Inc. (NYSE: CNO) secures the future of middle-income America. CNO provides life and health insurance, annuities, financial services, and workforce benefits solutions through our family of brands, including Bankers Life, Colonial Penn, Optavise and Washington National. Our customers work hard to save for the future, and we help protect their health, income and retirement needs with 3.2 million policies and $34 billion in total assets. Our 3,400 associates, 4,600 exclusive agents and 4,000 independent partner agents guide individuals, families and businesses through a lifetime of financial decisions. For more information, visit CNOinc.com.
___________
___________
___________
___________
View original content:
SOURCE CNO Financial Group, Inc.
|
https://www.wibw.com/prnewswire/2023/07/31/cno-financial-group-reports-second-quarter-2023-results/
| 2023-07-31T20:47:54
| 1
|
https://www.wibw.com/prnewswire/2023/07/31/cno-financial-group-reports-second-quarter-2023-results/
|
BOISE, Idaho (KTVX) – Lori Vallow Daybell, convicted of murdering her children, among other crimes, was sentenced to five life sentences in prison Monday with no possibility of parole. This sentencing brings closure to nearly four years of investigation and a trial.
Daybell, 49, was found guilty of murder, and conspiracy to commit murder of her children Joshua “JJ” Vallow, 7, and Tylee Ryan, 16. She was also convicted of conspiracy to commit murder in the death of Tammy Daybell, the former wife of her husband, Chad Daybell. Additionally, Lori was found guilty of grand theft.
Lori was sentenced to five life sentences without the possibility of parole, three of which will run consecutively, for her involvement in their murders and the conspiracy to commit murder. While many called for the death penalty, it was ruled out by a judge in March 2023 prior to her murder trial.
The case began in 2018 when Lori and Chad met at a religious conference in St. George. They became close friends, and even lovers, though both were married to other people. In July 2019, Lori’s husband Charles Vallow was killed by her brother, and it was declared self-defense, but later identified as a homicide.
Then in late-2019, Lori’s two children went missing — a case that captivated the United States. And while investigators were frantically searching for the kids, Lori and Chad were in Hawaii getting married.
Chad’s wife Tammy died a few weeks before Lori and Chad ran to Hawaii, but after the children went missing. Her death was originally ruled natural causes but later declared asphyxiation at the hands of another after her body was exhumed.
In February 2020, Lori was arrested on charges of desertion and nonsupport of dependent children. In April, Lori and Chad were both under investigation for conspiracy, attempted murder, and murder. They both pleaded not guilty.
During the final stages of the investigation leading up to their scheduled trials in January 2023, Tylee and JJ’s remains were found buried on Chad’s property.
Because of the large amount of evidence discovered, and the fact that Chad waived his right to a speedy trial, he will face his charges in April 2024. However, Lori did not waive her right to a speedy trial and appeared in court on April 2023, where she was found guilty on all charges.
Now, in July 2023, nearly four years after Lori’s children were murdered, she was sentenced to life in prison on all counts.
|
https://www.yourbasin.com/news/national-news/lori-vallow-daybell-given-5-life-sentences-in-prison-for-murders-of-her-two-children/
| 2023-07-31T20:47:55
| 0
|
https://www.yourbasin.com/news/national-news/lori-vallow-daybell-given-5-life-sentences-in-prison-for-murders-of-her-two-children/
|
ARMONK, N.Y., July 31, 2023 /PRNewswire/ -- The IBM (NYSE: IBM) board of directors has elected Michael Miebach to the board, effective October 30, 2023.
Michael Miebach, 55, is the chief executive officer of Mastercard Incorporated and a member of its board of directors. An innovator and technologist, Mr. Miebach has led Mastercard, a global technology company in the payments industry, since January 2021. Previously Mastercard's chief product officer, Mr. Miebach has deep experience in digital transformation, cybersecurity and delivering data-driven insights.
Arvind Krishna, IBM chairman and chief executive officer, said: "We are delighted that Michael Miebach will join the IBM board of directors. Michael is an accomplished technologist and international business leader. His insights and experience will strongly benefit IBM and its shareholders."
Mr. Miebach is a member of the Business Roundtable, the Business Council and the International Business Council of the World Economic Forum. He is a trustee of the United States Council for International Business and also serves on the United States Treasury Advisory Committee on Racial Equity.
Mr. Miebach holds a Master of Business Administration from the University of Passau in Germany.
View original content to download multimedia:
SOURCE IBM
|
https://www.kxii.com/prnewswire/2023/07/31/ibm-elects-michael-miebach-its-board-directors/
| 2023-07-31T20:47:55
| 0
|
https://www.kxii.com/prnewswire/2023/07/31/ibm-elects-michael-miebach-its-board-directors/
|
A woman from New Hampshire who works for a nonprofit organization in Haiti and her young daughter have been reported as kidnapped as the U.S. State Department issued a "do not travel advisory" in the country and ordered nonemergency personnel to leave there amid growing security concerns.
Alix Dorsainvil, a nurse for El Roi Haiti, and her daughter were kidnapped on Thursday, the organization said in a statement Saturday. El Roi, which runs a school and ministry in Port au Prince, said the two were taken from campus. Dorsainvil is the wife of the program's director, Sandro Dorsainvil.
"Alix is a deeply compassionate and loving person who considers Haiti her home and the Haitian people her friends and family," El Roi president and co-founder Jason Brown said in the statement. "Alix has worked tirelessly as our school and community nurse to bring relief to those who are suffering as she loves and serves the people of Haiti in the name of Jesus."
A State Department spokesperson said in a statement Saturday it is "aware of reports of the kidnapping of two U.S. citizens in Haiti," adding, "We are in regular contact with Haitian authorities and will continue to work with them and our U.S. government interagency partners."
In its advisory Thursday, the department said that "kidnapping is widespread, and victims regularly include U.S. citizens."
It said kidnappings often involve ransom negotiations and U.S. citizen victims have been physically harmed.
Earlier this month, the National Human Rights Defense Network issued a report warning about an upsurge in killings and kidnappings and the U.N. Security Council met to discuss Haiti's worsening situation.
WMUR-TV reported that Dorsainvil is from Middleton, New Hampshire, and went to Regis College in Weston, Massachusetts, which has a program to support nursing education in Haiti.
"It doesn't surprise me that Alex chose to get involved in this type of service work," Regis College president Toni Hays told the station. "She was amazing. She was passionate, she was compassionate."
Trending stories at Scrippsnews.com
|
https://www.kivitv.com/us-mother-and-daughter-kidnapped-in-haiti-people-warned-not-to-go
| 2023-07-31T20:47:55
| 0
|
https://www.kivitv.com/us-mother-and-daughter-kidnapped-in-haiti-people-warned-not-to-go
|
The Fitness Superstore to Exclusively Carry the REP Line
DENVER, July 31, 2023 /PRNewswire/ -- Home and commercial gyms in the United Kingdom and Ireland are about to level up.
One of the USA's top gym equipment brands has joined forces with the UK's largest speciality fitness retailer. Starting this summer, Bodypower Sports Ltd. (trading as Fitness Superstore) will carry a large range of REP Fitness equipment. This expansion was in response to a growing demand overseas, after REP took the US by storm. It kicks off the launch of REP products throughout all of Europe, so more people can have access to REP's versatile, quality, innovative equipment.
REP, founded a decade ago in Colorado by two gym-loving brothers, has risen to become America's most popular brand in the home gym market. It offers a full line of gym gear, all designed by in-house, weightlifting engineers for both commercial and home gyms.
REP's award-winning power racks, benches, functional training gyms, and more will soon be available for UK customers to try out and order in Fitness Superstore showrooms across the UK (11 stores). Fitness Superstore, founded in 1994, is the largest supplier of specialist fitness equipment in the UK and is proud to feature the largest fitness equipment showrooms in the UK.
Fitness Superstore will also carry REP on its website, to be delivered throughout the UK and Ireland.
"Fitness Superstore is proud to exclusively represent this fantastic and innovative brand in the UK," says Paul Walker, Fitness Superstore managing director and owner.
Ryan McGrotty, co-founder or REP, echoes that. He says Fitness Superstore and REP make a great partnership because both are staffed by real-life fitness enthusiasts and professionals; they both offer a full range of equipment, and they both value creating community and making fitness accessible to all.
"We're excited to be working with such a strong partner in the UK with Fitness Superstore. We know they will offer a great shopping experience for all our fans in the UK who have been eagerly awaiting the availability of our products," says McGrotty. "Their broad store footprint will make it convenient for everyone to easily see and test our products before taking them home.
ABOUT REP
REP Fitness designs and sells world-class, innovative strength equipment that is sold around the world. REP was founded in Colorado in 2012 by two brothers with a shared passion for fitness and has grown into more than 300,000 square feet of office and distribution space and a team of more than 150 dedicated fitness enthusiasts. That shared passion for fitness is what drives REP's innovative spirit, where creating class-leading fitness equipment, with an emphasis on incredible home gyms, is paramount.
REP has been listed twice on the Inc. 5,000 fastest-growing companies — in 2018 and in 2021. REP products are frequently listed as top choices in many fitness publications, such as Men's Health.
For more information, visit repfitness.com. Connect with REP on Instagram, YouTube, Facebook, TikTok, and LinkedIn.
ABOUT FITNESS SUPERSTORE
Fitness Superstore, founded in 1994, is the largest supplier of specialist fitness equipment in the UK and is proud to feature the largest fitness equipment showrooms in the UK.
Learn more at fitness-superstore.co.uk. You can also connect with Fitness Superstore on Facebook, Instagram, YouTube, and TikTok.
View original content:
SOURCE Rep Fitness
|
https://www.wbtv.com/prnewswire/2023/07/31/rep-fitness-equipment-now-available-pre-order-uk-ireland/
| 2023-07-31T20:47:55
| 0
|
https://www.wbtv.com/prnewswire/2023/07/31/rep-fitness-equipment-now-available-pre-order-uk-ireland/
|
The New York Mets are paying Texas $35.51 million over the next 14 months as part of the Max Scherzer trade, leaving the Rangers in effect responsible for $22.5 million owed to the three-time Cy Young Award winner, according to details of the deal obtained by The Associated Press.
New York, just 50-55 despite a record-high payroll, has cut costs by nearly $26 million in pay and luxury tax this year by getting rid of Scherzer and reliever David Robertson ahead of Tuesday’s trade deadline. The Mets have offloaded just over $13.5 million in salary, resulting in an additional tax saving of about $12.15 million.
Texas acquired Scherzer on Sunday for minor league infielder Luisangel Acuña, a brother of Atlanta All-Star outfielder Ronald Acuña Jr. Scherzer’s cost to the Rangers is $10 million this year and $12.5 million in 2024.
The Rangers assumed responsibility for the 39-year-old right-hander’s salary on Monday, when he was owed $58.01 million for the remainder of a $130 million, three-year contract he agreed to before the 2022 season.
Of the $14.67 million left of Scherzer’s $43.33 million salary for this season’s final 64 days, the Mets will pay Texas $4.67 million in four installments of $1.16 million on Aug. 15 and 31 and Sept. 15 and 30.
Scherzer gets a $43.33 million salary next season in the final year of the deal. The Mets will pay the Rangers $30.83 million in 12 installments of $2.56 million on the 15th and final day of each month from April 2024 through September 2024.
New York’s payroll rose to a projected $365 million after it acquired reliever Trevor Gott from Seattle on July 3, and the Mets’ luxury tax payroll increased to about $385 million. That was on track for a tax of about $95 million.
When the Mets traded Robertson to Miami last week, the Marlins assumed $3.54 million remaining of Robertson’s $10 million salary.
___
AP MLB: https://apnews.com/hub/mlb and https://twitter.com/AP_Sports
|
https://fox59.com/sports/ap-sports/ap-scherzer-costs-texas-22-5m-with-mets-to-pay-rangers-just-over-35-5m-through-2024/
| 2023-07-31T20:47:57
| 0
|
https://fox59.com/sports/ap-sports/ap-scherzer-costs-texas-22-5m-with-mets-to-pay-rangers-just-over-35-5m-through-2024/
|
A woman from New Hampshire who works for a nonprofit organization in Haiti and her young daughter have been reported as kidnapped as the U.S. State Department issued a "do not travel advisory" in the country and ordered nonemergency personnel to leave there amid growing security concerns.
Alix Dorsainvil, a nurse for El Roi Haiti, and her daughter were kidnapped on Thursday, the organization said in a statement Saturday. El Roi, which runs a school and ministry in Port au Prince, said the two were taken from campus. Dorsainvil is the wife of the program's director, Sandro Dorsainvil.
"Alix is a deeply compassionate and loving person who considers Haiti her home and the Haitian people her friends and family," El Roi president and co-founder Jason Brown said in the statement. "Alix has worked tirelessly as our school and community nurse to bring relief to those who are suffering as she loves and serves the people of Haiti in the name of Jesus."
A State Department spokesperson said in a statement Saturday it is "aware of reports of the kidnapping of two U.S. citizens in Haiti," adding, "We are in regular contact with Haitian authorities and will continue to work with them and our U.S. government interagency partners."
In its advisory Thursday, the department said that "kidnapping is widespread, and victims regularly include U.S. citizens."
It said kidnappings often involve ransom negotiations and U.S. citizen victims have been physically harmed.
Earlier this month, the National Human Rights Defense Network issued a report warning about an upsurge in killings and kidnappings and the U.N. Security Council met to discuss Haiti's worsening situation.
WMUR-TV reported that Dorsainvil is from Middleton, New Hampshire, and went to Regis College in Weston, Massachusetts, which has a program to support nursing education in Haiti.
"It doesn't surprise me that Alex chose to get involved in this type of service work," Regis College president Toni Hays told the station. "She was amazing. She was passionate, she was compassionate."
Trending stories at Scrippsnews.com
|
https://www.kxlf.com/us-mother-and-daughter-kidnapped-in-haiti-people-warned-not-to-go
| 2023-07-31T20:47:59
| 1
|
https://www.kxlf.com/us-mother-and-daughter-kidnapped-in-haiti-people-warned-not-to-go
|
SACRAMENTO, Calif. (AP) — The largest dam removal project in United States history is underway along the California-Oregon border — a process that won’t conclude until the end of next year with the help of heavy machinery and explosives.
But in some ways, removing the dams is the easy part. The hard part will come over the next decade as workers, partnering with Native American tribes, plant and monitor nearly 17 billion seeds as they try to restore the Klamath River and the surrounding land to what it looked like before the dams started to go up more than a century ago.
The demolition is part of a national movement to return the natural flow of the nation’s rivers and restore habitat for fish and the ecosystems that sustain other wildlife. More than 2,000 dams have been removed in the U.S. as of February, with the bulk of those having come down within the last 25 years, according to the advocacy group American Rivers.
When demolition is completed by the end of next year, more than 400 miles (644 kilometers) of river will have opened for threatened species of fish and other wildlife. By comparison, the 65 dams removed in the U.S. last year combined to reconnect 430 miles (692 kilometers) of river.
Along the Klamath, the dam removals won’t be a major hit to the power supply; they produced less than 2% of power company PacifiCorp’s energy generation when they were running at full capacity — enough to power about 70,000 homes. Though the hydroelectric power produced by dams is considered a clean, renewable source of energy, many larger dams in the U.S. West have become a target for environmental groups and tribes because of the harm they cause to fish and river ecosystems.
The project will empty three reservoirs over about 3.5 square miles (9 square kilometers) near the California-Oregon border, exposing soil to sunlight in some places for the first time in more than a century.
For the past five years, Native American tribes have gathered seeds by hand and sent them to nurseries with plans to sow the seeds along the banks of the newly wild river. Helicopters will bring in hundreds of thousands of trees and shrubs to plant along the banks, including wads of tree roots to create habitat for fish.
This growth usually takes decades to happen naturally. But officials are pressing nature’s fast-forward button because they hope to repel an invasion of foreign plants, such as starthistle, which dominate the landscape at the expense of native plants.
“Why not just let nature take its course? Well, nature didn’t take its course when dams got put in. We can’t pretend this gigantic change in the landscape has not happened and we can’t just ignore the fact that invasive species are a big problem in the west and in California,” said Dave Meurer, director of community affairs for Resource Environmental Solutions, the company leading the restoration project.
PacifiCorp built the dams starting in 1918 to generate electricity. The dams halted the natural flow of the river and disrupted the lifecycle of salmon, a fish that spends most of its life in the Pacific Ocean but returns to the chilly mountain streams to lay eggs. The fish are culturally and spiritually significant to a number of Native American tribes, who historically survived by fishing the massive runs of salmon that would come back to the rivers each year.
A combination of low water levels and warm temperatures in 2002 led to a bacterial outbreak that killed more than 34,000 fish, mostly Chinook salmon. The loss jumpstarted decades of advocacy from Native American tribes and environmental groups, culminating last year when federal regulators approved a plan to remove the dams.
“The river is our church, the salmon is our cross. That’s how it relates to the people. So it’s very sacred to us,” said Kenneth Brink, vice chairman of the Karuk Tribe. “The river is not just a place we go to swim. It’s life. It creates everything for our people.”
The project will cost $500 million, paid for by taxpayers and PacifiCorps ratepayers. Crews have mostly removed the smallest of the four dams, known as Copco No. 2. The other three dams are expected to come down next year. That will leave some homeowners in the area without the picturesque lake they have lived on for years.
The Siskiyou County Water Users Association, which formed about a decade ago to stop the dam removal project, filed a federal lawsuit. But so far they have been unable to stop the demolition.
“Unfortunately it’s a mistake you can’t turn back from,” association President Richard Marshall said.
The water level in the lakes will drop between 3 feet and 5 feet (1 meter to 1.5 meters) per day over the first few months of next year. Crews will follow that water line, taking advantage of the moisture in the soil to plant seeds from more than 98 native plant species including wooly sunflower, Idaho fescue and Blue bunch wheat grass.
Tribes have been invested in the process from the start. Resource Environmental Solutions hired tribal members to gather seeds from native plants by hand. The Yurok Tribe even hired a restoration botanist.
Each species has a role to play. Some, like lupine, grow quickly and prepare the soil for other plants. Others, like oak trees, take years to fully mature and provide shade for other plants.
“It’s a wonderful marriage of tribal traditional ecological knowledge and western science,” said Mark Bransom, CEO of the Klamath River Renewal Corporation, the nonprofit entity created to oversee the project.
The previous largest dam removal project was on Washington state’s Elwha River, which flows out of Olympic National Park into the Strait of Juan de Fuca. Congress in 1992 approved the demolition of the two dams on the river constructed in the early 1900s. After two decades of planning, workers finished removing them in 2014, opening about 70 miles (113 kilometers) of habitat for salmon and steelhead.
Biologists say it will take at least a generation for the river to recover, but within months of the dams being removed, salmon were already recolonizing sections of the river they had not accessed in more than a century. The Lower Elwha Klallam Tribe, which has been closely involved in restoration work, is opening a limited subsistence fishery this fall for coho salmon, its first since the dams came down.
Brink, the Karuk Tribe vice chair, hopes similar success will happen on the Klamath River. Multiple times per year, Brink and other tribal members participate in ceremonial salmon fishing using handheld nets. In many years, there have been no fish to catch, he said.
“When the river gets to flow freely again, the people can also begin to worship freely again,” he said.
___
Associated Press writer Eugene Johnson in Seattle contributed.
|
https://www.kron4.com/news/national/ap-us-news/ap-as-work-begins-on-the-largest-us-dam-removal-project-tribes-look-to-a-future-of-growth/
| 2023-07-31T20:48:00
| 1
|
https://www.kron4.com/news/national/ap-us-news/ap-as-work-begins-on-the-largest-us-dam-removal-project-tribes-look-to-a-future-of-growth/
|
AUSTIN (KXAN) — A KXAN viewer said she saw baby foxes, also known as kits, playing on a trampoline in her garden Sunday in the north Austin, Texas, area.
That was only a couple of weeks after another viewer said she saw a family of foxes playing on the St. Edward’s University campus in Austin.
According to the Humane Society of the United States, it’s not unusual to see foxes in cities and towns, where food sources are easily found, including in your garbage.
While foxes live around the world in many different types of habitats, according to the Texas Wildlife Association, including the Arctic, the desert and even in trees, some foxes have also adapted to life in such urban environments as neighborhoods.
“Next time you are outside in a park, remember to look up, because if you are lucky, you might see a fox up in the trees,” TWA said.
TWA said three types of foxes live in Texas, including the swift fox, the red fox and the gray fox.
The swift, or kit fox, lives in the northwestern part of the state, the red fox inhabits the eastern and central parts, and the gray fox, the most common variety, can be found statewide, the TWA said.
The Humane Society said foxes are scared of people and are not typically dangerous except when they are rabid, which the society says is rare.
“Even then, a fox’s natural tendency is to flee rather than fight,” the Human Society stated.
|
https://www.yourbasin.com/news/national-news/video-foxes-seen-playing-on-trampoline-in-texas/
| 2023-07-31T20:48:01
| 1
|
https://www.yourbasin.com/news/national-news/video-foxes-seen-playing-on-trampoline-in-texas/
|
Published: Jul. 31, 2023 at 3:05 PM CDT|Updated: 42 minutes ago
Broadband revenue up 20% and Video SaaS revenue up 58% year over year
SAN JOSE, Calif., July 31, 2023 /PRNewswire/ -- Harmonic Inc. (NASDAQ: HLIT) today announced its unaudited results for the second quarter of 2023.
"While we achieved double digit year over year Broadband and Video SaaS revenue growth and strong gross margins for the second quarter, we experienced hardware sales delays across our business segments resulting in total revenue that was below our expectations," said Patrick Harshman, president and chief executive officer of Harmonic. "Despite these short-term headwinds, we have the largest backlog in our Company's history and our operating model continued to deliver solid profitability. The strength of our market position was reinforced by several new customer wins which further supports our multi-year growth plan."
Q2 Financial and Business Highlights
Financial
Revenue: $156.0 million, down 1% year over year
Gross margin: GAAP 54.5% and non-GAAP 54.7%, compared to GAAP 52.3% and non-GAAP 52.8% in the year ago period
Operating income: GAAP income $10.0 million and non-GAAP income $18.2 million, compared to GAAP income $15.1 million and non-GAAP income $21.4 million in the year ago period
Net income: GAAP net income $1.6 million and non-GAAP net income of $14.0 million, compared to GAAP net income $14.8 million and non-GAAP net income $17.6 million in the year ago period
Adjusted EBITDA: $21.1 million income compared to $24.3 million income in the year ago period
EPS: GAAP net income per share of $0.01 and non-GAAP net income per share of $0.12, compared to GAAP net income per share of $0.14 and non-GAAP net income per share of $0.16 in the year ago period
Cash: $71.0 million, down $50.8 million year over year
Business
CableOS® solution commercially deployed with 98 customers, serving 21.0 million cable modems, and initial orders received from two new Tier 1 customers
Recognized for the first time as the "cable broadband equipment" market share leader, by the most recent Dell'Oro Group1 report
Signed a follow-on multi-year software contract with an existing Tier 1 customer
Live sports streaming SaaS expansions and new wins drove 58.3% Video SaaS revenue growth year over year
Select Financial Information
Explanations regarding our use of non-GAAP financial measures and related definitions, and reconciliations of our GAAP and non-GAAP measures, are provided in the sections below entitled "Use of Non-GAAP Financial Measures" and "GAAP to Non-GAAP Reconciliations".
Financial Guidance
Conference Call Information
Harmonic will host a conference call to discuss its financial results at 2:00 p.m. PT (5:00 p.m. ET) on Monday, July 31, 2023. The live webcast will be available on the Harmonic Investor Relations website at http://investor.harmonicinc.com. To participate via telephone, please register in advance using this link, https://register.vevent.com/register/BI455acac6063542fb837fd89bddfb1d84. A replay will be available after 5:00 p.m. PT on the same web site.
About Harmonic Inc.
Harmonic (NASDAQ: HLIT), the worldwide leader in virtualized broadband and video delivery solutions, enables media companies and service providers to deliver ultra-high-quality video streaming and broadcast services to consumers globally. The company revolutionized broadband networking via the industry's first virtualized broadband solution, enabling cable operators to more flexibly deploy gigabit internet service to consumers' homes and mobile devices. Whether simplifying OTT video delivery via innovative cloud and software platforms, or powering the delivery of gigabit internet cable services, Harmonic is changing the way media companies and service providers monetize live and on-demand content on every screen. More information is available at www.harmonicinc.com.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements related to our expectations regarding: net revenue, gross margins, operating expenses, operating income (loss), Adjusted EBITDA, tax expense and tax rate, EPS and cash. Our expectations regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include, in no particular order, the following: the market and technology trends underlying our Video and Broadband businesses will not continue to develop in their current direction or pace; the possibility that our products will not generate sales that are commensurate with our expectations or that our cost of revenue or operating expenses may exceed our expectations; the impact of general economic conditions on our sales and operations; the mix of products and services sold in various geographies and the effect it has on gross margins; delays or decreases in capital spending in the cable, satellite, telco, broadcast and media industries; customer concentration and consolidation; our ability to develop new and enhanced products in a timely manner and market acceptance of our new or existing products; losses of one or more key customers; risks associated with our international operations; exchange rate fluctuations of the currencies in which we conduct business; risks associated with our CableOS and VOS product solutions; dependence on various video and broadband industry trends; inventory management; the lack of timely availability or the impact of increases in the prices of parts or raw materials necessary to produce our products; the effect of competition, on both revenue and gross margins; difficulties associated with rapid technological changes in our markets; risks associated with unpredictable sales cycles; our dependence on contract manufacturers and sole or limited source suppliers; and the effect on our business of natural disasters. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Harmonic's filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K for the year ended December 31, 2022, our most recent Quarterly Report on Form 10-Q and our Current Reports on Form 8-K. The forward-looking statements in this press release are based on information available to the Company as of the date hereof, and Harmonic disclaims any obligation to update any forward-looking statements.
Use of Non-GAAP Financial Measures
The Company reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP" or referred to herein as "reported"). However, management believes that certain non-GAAP financial measures provide management and other users with additional meaningful financial information that should be considered when assessing our ongoing performance. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, establish operating budgets, set internal measurement targets and make operating decisions.
These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. The Company believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Harmonic's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Harmonic's results of operations in conjunction with the corresponding GAAP measures.
The Company believes that the presentation of non-GAAP measures, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations. Non-GAAP financial measures should be viewed in addition to, and not as an alternative to, the Company's reported results prepared in accordance with GAAP.
The non-GAAP measures presented here are: Gross profit, operating expenses, income (loss) from operations, non-operating expenses and net income (loss) (including those amounts as a percentage of revenue), Adjusted EBITDA and net income (loss) per diluted share. The presentation of non-GAAP information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP, and is not necessarily comparable to non-GAAP results published by other companies. A reconciliation of the historical non-GAAP financial measures discussed in this press release to the most directly comparable historical GAAP financial measures is included with the financial statements provided with this press release. The non-GAAP adjustments described below have historically been excluded from our GAAP financial measures.
Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects:
Stock-based compensation - Although stock-based compensation is a key incentive offered to our employees, we continue to evaluate our business performance excluding stock-based compensation expenses. We believe that management is limited in its ability to project the impact stock-based compensation would have on our operating results. In addition, for comparability purposes, we believe it is useful to provide a non-GAAP financial measure that excludes stock-based compensation in order to better understand the long-term performance of our core business and to facilitate the comparison of our results to the results of our peer companies.
Restructuring and related charges - Harmonic from time to time incurs restructuring charges which primarily consist of employee severance, one-time termination benefits related to the reduction of its workforce, lease exit costs, and other costs. These charges are associated with material business shifts. We exclude these items because we do not believe they are reflective of our ongoing long-term business and operating results.
Non-cash interest expense and other expenses related to convertible notes and other debt - We record the amortization of issuance costs as non-cash interest expense. We believe that excluding these costs provides meaningful supplemental information regarding operational performance and liquidity, along with enhancing investors' ability to view the Company's results from management's perspective. In addition, we believe excluding these costs from the non-GAAP measures facilitates comparisons to our historical operating results and comparisons to peer company operating results.
Gain and losses on equity investments - We exclude the gain and losses from the sale of our equity investments in calculating our non-GAAP financial measures. We exclude these items because we do not believe they are reflective of our ongoing long-term business and operating results.
Discrete tax items and tax effect of non-GAAP adjustments - The income tax effect of non-GAAP adjustments relates to the tax effect of the adjustments that we incorporate into non-GAAP financial measures in order to provide a more meaningful measure of non-GAAP net income.
Depreciation - Depreciation expense, along with interest, tax and stock-based compensation expense, and restructuring charges, is excluded from Adjusted EBITDA because we do not believe depreciation and the other items relate to the ordinary course of our business or are reflective of our underlying business performance.
Non-recurring advisory fees - There were non-recurring costs that we excluded from non-GAAP results relating to professional accounting, tax and legal fees associated with strategic corporate initiatives, including assessing corporate structure and organization, as we seek to optimize value for our business.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.
|
https://www.wibw.com/prnewswire/2023/07/31/harmonic-announces-second-quarter-2023-results/
| 2023-07-31T20:48:01
| 0
|
https://www.wibw.com/prnewswire/2023/07/31/harmonic-announces-second-quarter-2023-results/
|
MENLO PARK, Calif., July 31, 2023 /PRNewswire/ -- Robert Half Inc. (NYSE: RHI) announced today that its board of directors has approved a quarterly cash dividend of $0.48 per share. The cash dividend will be paid on Sept. 15, 2023, to all shareholders of record as of Aug. 25, 2023.
Robert Half is the world's first and largest specialized talent solutions and business consulting firm that connects people with meaningful work and provides companies with the talent and subject matter expertise they need to confidently compete and grow. Robert Half is the parent company of Protiviti®, a global consulting firm that provides internal audit, risk, business and technology consulting solutions. Robert Half, including Protiviti, has been named to the Fortune® Most Admired Companies™ and Most Innovative Companies lists and is a Forbes Best Employer for Diversity. Robert Half has talent solutions and consulting operations in more than 400 locations worldwide.
View original content to download multimedia:
SOURCE Robert Half
|
https://www.wbtv.com/prnewswire/2023/07/31/robert-half-announces-quarterly-dividend/
| 2023-07-31T20:48:02
| 1
|
https://www.wbtv.com/prnewswire/2023/07/31/robert-half-announces-quarterly-dividend/
|
IEEE Transactions on Pattern Analysis and Machine Intelligence (TPAMI) achieves highest impact factor among Computer Society journals
LOS ALAMITOS, Calif., July 31, 2023 /PRNewswire/ -- The IEEE Computer Society (CS), the leading global computer science and engineering member community, announced today that its journal IEEE Transactions on Pattern Analysis and Machine Intelligence (TPAMI) earned the highest 2022 Journal Impact Factor™ (JIF™) of all IEEE CS publications, securing the top spot among artificial intelligence journals.
"Computer science and engineering represent some of the most prominent, promising areas of research today," said Nita Patel, president, IEEE CS. "As the number of papers in our field continues to climb, paper acceptance gets increasingly competitive, and our editors work tirelessly to ensure that only the top papers make their way into our journals. We're thrilled to, once again, hold top impact factor rankings, and we thank all of our volunteers for their commitment to excellence."
Impact factor measures the frequency with which the average article in a publication has been cited in a particular year. The calculation is based on a two-year period and involves dividing the number of times articles were cited by the number of articles that are citable. It offers a key metric to assess the overall strength and industry influence of a particular publication.
Overall, 11 IEEE CS journals now hold the coveted top impact factor ranking in their specialty field. The following four publications join TPAMI to round out the top five highest-ranked IEEE CS journals:
- IEEE Transactions on Affective Computing (TAC)
- IEEE Transactions on Knowledge and Data Engineering (TKDE), a new entrant to IEEE CS' top five journals
- IEEE Transactions on Services Computing (TSC)
- IEEE Transactions on Mobile Computing (TMC), a new entrant to IEEE CS' top five journals
In addition, IEEE CS' fully open access publication, IEEE Open Journal of the Computer Society, received its first impact factor in Clarivate's Emerging Sources Citation Index™ (ESCI), which features newly launched, niche, and open access journals publishing high-quality research on a range of topics. This is the first year Clarivate included the multidisciplinary ESCI in its JIF review.
"We're thrilled that IEEE Open Journal of the Computer Society had the opportunity to be recognized this year," said Greg Byrd, IEEE CS VP of Publications. "With the innovative research it brings to the field, it is certain to have a long-standing impact on the computer science and engineering community."
Impact factor applies not only to scientific and engineering journals but to technical magazines as well. Those IEEE CS publications with the highest impact factor rankings include:
"One of the most important things about impact factor rankings is that they point to the most highly researched topics in the field," said Patel. "This year, there's a heavy focus on artificial intelligence, data science, and mobile computing. It will be interesting to watch the evolution of these topics and the advances that arise from papers presented in Computer Society publications."
JIF rankings are released annually in Clarivate's Journal Citation Reports™ (JCR™). These reports evaluate more than 21,500 high-quality academic journals from across more than 250 scientific and research disciplines.
To learn more about IEEE Computer Society journals and the research they offer, visit https://www.computer.org/publications.
About the IEEE Computer Society
Engaging computer engineers, scientists, academia, and industry professionals from all areas of computing, the IEEE Computer Society (CS) sets the standard for the education and engagement that fuels continued global technological advancement. Through conferences, publications, and programs, and by bringing together computer science and engineering leaders at every phase of their career for dialogue, debate, and collaboration, IEEE CS empowers, shapes, and guides the future of not only its members, but the greater industry, enabling new opportunities to better serve our world. Visit computer.org for more information.
View original content to download multimedia:
SOURCE IEEE Computer Society
|
https://www.kxii.com/prnewswire/2023/07/31/ieee-computer-society-journals-claim-top-impact-honors/
| 2023-07-31T20:48:01
| 0
|
https://www.kxii.com/prnewswire/2023/07/31/ieee-computer-society-journals-claim-top-impact-honors/
|
SYDNEY (AP) — The Women’s World Cup is taking shape with shocks and highlights as it nears the end of the group stage.
Some players have established themselves as ones to watch, like Colombia star Linda Caicedo, who has made her team one of the tournament surprises. Colombia picked up an upset win over Germany, and Nigeria upset co-host Australia — just two of the games that showed the gap has closed at top level women’s soccer.
But co-host New Zealand was eliminated, and other big teams are in danger of not advancing headed into the final few days of group play.
The Associated Press takes a look at some of the highlights and lowlights so far:
GOAL OF THE TOURNAMENT
There have been a number of contenders and Bia Zaneratto’s strike against Panama after a sweeping move from Brazil stands out as the most complete goal so far.
Ireland’s Katie McCabe scored directly from a corner kick against Canada, and England’s Lauren James curled in a long range effort against Denmark.
Even so, Caicedo’s solo goal in Colombia’s dramatic 2-1 win against Germany is the pick of the bunch. With a flash of skill, she beat two German players in the box before lashing a shot into the top corner as the Sydney crowd dominated by Colombia fans went wild.
MOMENT OF THE TOURNAMENT
It has to be Manuela Vanegas’ late winner for Colombia against Germany. Alexandra Popp seemed to position two-time champion Germany for a draw with an 89th-minute penalty.
But Vanegas’ header in the 97th minute gave Colombia a World Cup upset.
COMEBACK
Norway looked down and out after an opening game loss to co-host New Zealand and a goalless draw against Switzerland. With star player Ada Hegerberg injured, the odds were beginning to stack up against the Norwegians going into their final Group A match against the Philippines.
But three goals within 31 minutes set up a 6-0 rout that saw Norway advance to the knockout rounds in second place. The Norway win knocked New Zealand out of the tournament, making the Football Ferns the first host to be eliminated in group play in tournament history.
EMERGING STARS
Caicedo’s standout performances aren’t a surprise to those who have followed her career. The Real Madrid forward has long-been tipped to be one of the biggest stars in women’s soccer.
She hasn’t disappointed in her first World Cup and has inspired Colombia to back-to-back wins with goals in each game.
England coach Sarina Wiegman unleashed Chelsea forward James from the start in the Lionesses’ second game against Denmark, and she made a quick impression. Collecting the ball outside the area after six minutes, she swept a curling effort past Lene Christensen.
Haiti’s Melchie Dumornay has shown flashes of the talent that earned her a move to French powerhouse Lyon, while 19-year-old Aoba Fujino has become the youngest player to score at a World Cup for Japan’s men’s or women’s teams.
Casey Phair, a 16 year old, became the youngest-ever player to appear in a senior soccer World Cup when she was a second-half substitute for South Korea against Colombia.
DISAPPOINTMENTS
While youngsters have capitalized on their chance to shine, some of the established names have yet to make their mark.
There have been differing reasons for that.
Sam Kerr’s calf injury robbed Australia of its star striker for its opening two games, while Hegerberg’s groin injury has cut her playing time for Norway.
Alex Morgan, who was the co-leading scorer at the last World Cup, is still finding her footing in the United States’ new look attack.
Record international scorer Christine Sinclair was benched for Canada’s second game and is still waiting for her first goal of the tournament, while Brazil great Marta has also been used sparingly.
SURPRISES
New Zealand kicked the tournament off with a 1-0 win against Norway, but couldn’t keep up its momentum and went on to lose by the same score to the Philippines to set up the co-host’s early exit.
Jamaica’s 0-0 draw with fifth-ranked France was described by its coach Lorne Donaldson as the country’s greatest soccer result, for men or women. But the biggest surprise could be yet to come if Jamaica can avoid defeat against Brazil to advance to the round of 16.
Colombia’s dramatic late winner against Germany, meanwhile, was one of the great upsets.
ENTERTAINERS
The goals have been flowing for Spain and Japan, teams that both advanced from the group stage with a game to spare. Both teams secured 5-0 wins against Zambia and both have produced technically excellent displays.
Germany was on a high after its 6-0 rout of Morocco, but was humbled by Colombia.
Sweden routed Italy 5-0, while Norway found its scoring touch just in time against the Philippines.
ONES TO WATCH
Some of the favorites have made underwhelming starts. The two-time defending champion United States, England, Germany and France have not been totally convincing in group play and the tournament still looks wide open.
Colombia looks legitimate, and with Kerr back in action, Australia could become a contender.
The Netherlands look like serious contenders, while Spain and Japan have impressed. Brazil has shown flashes, but faces a fight to advance from the group stage.
Nigeria has shown it is dangerous, and Sweden has picked up back-to-back wins.
___
James Robson is at https://twitter.com/jamesalanrobson
___
More AP Women’s World Cup coverage: https://apnews.com/hub/fifa-womens-world-cup
|
https://fox59.com/sports/ap-sports/ap-the-womens-world-cup-has-produced-some-big-moments-these-are-some-of-the-highlights-lowlights/
| 2023-07-31T20:48:03
| 0
|
https://fox59.com/sports/ap-sports/ap-the-womens-world-cup-has-produced-some-big-moments-these-are-some-of-the-highlights-lowlights/
|
SEELEY LAKE — The Colt Fire burning northwest of Seeley Lake grew additional 700 acres due to gusty winds.
The lightning-sparked fire burning 15 miles northwest of Seeley Lake is 6,177 acres and is 8% contained.
Additional acreage increase is expected due to Sunday's intense fire activity.
Crews are working to establish containment lines around the fire.
A night shift of engines and personnel will patrol, monitor fire conditions, and engage in suppression actions.
Helicopters and airplanes will be used to drop water and retardant on the fire as they are available.
WEATHER AND FIRE BEHAVIOR:
The high temperatures in the fire area on Monday will range from 80-91 degrees, with relative humidity levels in the mid to upper teens. Winds will be from the west to southwest at 10 mph.
These warm and dry conditions will again lead to active, intense fire behavior.
Moderate growth is expected with the fire moving through the heavy dead and down surface fuels. Torching and spotting are possible in the subalpine fir and lodgepole pine.
EVACUATIONS AND CLOSURES:
The Missoula County Sheriff’s Office Evacuation Warning and Order summary:
-Residents on Beaver Creek Road (near the summit) are under an Evacuation Warning.
-Mile marker 31 (Beaver Creek Road at the intersection of Hwy 83) south towards Seeley Lake to mile marker 27, and including residences in Rovero Flats, are under an Evacuation Order.
-Residences beginning at mile marker 27, south end of Rovero Flats, to mile marker 25.5 (the intersection of the West Fork of the Clearwater Road and Hwy 83) are under an Evacuation Warning.
-Residences on the north and south ends of Lake Inez are under an Evacuation Warning.
-The east side of Lake Inez, along Hwy 83, is not under any Warning or Order.
If conditions rapidly change an Evacuation Order may be issued with no prior notice or warning.
The Lolo and Flathead National Forests have closed several forest roads, areas, and campgrounds near the fire area for public safety. The list of current closures includes:
-Forest Road 906 (closed at Highway 83) -Rainy Lake Campground access road 4357 (closed at Highway 83)
-Rainy Lake Campground -Alva Lake Campground access road (closed by gate at Highway 83)
-Alva Lake Campground
-Lakeside Campground access road (closed by gate at Highway 83)
-Lakeside Campground -Lake Inez Campground
-Forest Road 646 (closed at the junction of FSR 552; FSR 435
-Forest Road 552 (beyond the turn off to west side Lake Inez access
-Forest Road 5407 and 463 closed beyond the West Side snowmobile trailhead (these roads access the Montana Fish, Wildlife, and Parks Marshall Wildlife Management Area and Lake Marshall)
-Temporarily closing the Forest System Road loops of the Clearwater (FSR 4370 and 4353) and Richmond (FSR 667 and 720)
|
https://www.kxlf.com/weather/fire-watch/colt-fire-north-of-seeley-lake-grows-additional-700-acres
| 2023-07-31T20:48:05
| 0
|
https://www.kxlf.com/weather/fire-watch/colt-fire-north-of-seeley-lake-grows-additional-700-acres
|
DES MOINES, Iowa (AP) — Another day, another billion dollar lottery jackpot.
At least, that’s how it seems ahead of Tuesday night’s Mega Millions drawing for an estimated $1.05 billion top prize.
It’s a huge sum of money, but such giant jackpots have become far more common, with five prizes topping $1 billion since 2021 — and one jackpot reaching $2.04 billion in 2022.
The massive prizes are due in part to chance, but it’s not all happenstance. Rising interest rates coupled with changes to the odds of winning are also big reasons the prizes grow so large.
HOW DO INTEREST RATES INCREASE JACKPOTS?
Nearly all jackpot winners opt for a lump sum payout, which for Tuesday night’s drawing would be an estimated $527.9 million. The lump sum is the cash that a winner has actually won. The highlighted $1.05 billion prize is for a sole winner who is paid through an annuity, which is funded by that lump sum and will be doled out annually over 30 years.
That’s where the higher interest rate becomes a factor, because the higher the interest rate, the larger the annuity can grow over three decades. The U.S. is in the midst of a remarkable run of interest rate increases, with the Federal Reserve raising a key rate 11 times in 17 months, and that higher rate enables a roughly $500 million lump sum prize to be advertised as a jackpot of about twice that size.
HOW DOES THE ANNUITY WORK?
A winner who chooses the annuity option would receive an initial payment and then 29 annual payments that rise by 5% each year. Opting for an annuity has some tax advantages, as less of the winnings would be taxed at the top federal income tax rate of 37%. It also could be an option for winners who don’t trust themselves to manage so much money all at once.
If lottery winners die before 30 years, the future payments would go to their beneficiaries.
WHY DO WINNERS SNUB THE ANNUITY OPTION?
The annuities pay out big money, but not nearly as big as taking the lump sum.
For example, a sole winner of Tuesday night’s Mega Millions could choose a lump sum of an estimated $527.9 million or an initial annuity payment of about $15.8 million. Of course, those annuity payments would continue for decades and gradually increase until the final check paid about $65.1 million, according to lottery officials.
In both cases, the winnings would be subject to federal taxes, and many states also tax lottery winnings.
Given all that, nearly all jackpot winners think they could make more money by investing the money themselves, or they simply want the biggest initial payout possible.
WHAT ABOUT THE ODDS OF WINNING?
That’s another factor that has created so many huge prizes for those who match all six numbers.
In 2015, the Powerball odds were changed from 1 in 175.2 million to 1 in 292.2 million. Mega Millions took a similar action in 2019 by lengthening the game’s odds from 1 in 258.9 million to 1 in 302.6 million.
For lottery officials, the hope was that by making it harder to win jackpots, the prizes would roll over for weeks and create truly massive pots of money that would in turn generate higher sales.
The result is that all of the billion dollar jackpots have come after the changes in the odds.
HOW LONG UNTIL THERE IS A WINNER?
Luck remains a big factor, as the odds of any ticket being a winner never changes. However, the more people who play Mega Millions, the more of the potential 302.6 million number combinations are covered.
For the last Mega Millions drawing on Friday night, 20.1% of possible number combinations were purchased. Typically, the larger the jackpot grows, the more people buy tickets and the more potential combinations are covered.
Tuesday night’s drawing will be the 30th since the last jackpot winner. That is inching closer to the longest Mega Millions jackpot drought, which reached 37 drawings from Sept. 18, 2020, to Jan. 22, 2021.
The longest jackpot run was for a Powerball prize that stretched over 41 drawings and ended with a record $2.04 billion prize on Nov. 7, 2022.
___
The top federal tax bracket has been corrected to 37%.
|
https://www.yourbasin.com/news/national/ap-1-05-billion-mega-million-jackpot-is-among-a-surge-in-huge-payouts-due-to-more-than-just-luck/
| 2023-07-31T20:48:07
| 0
|
https://www.yourbasin.com/news/national/ap-1-05-billion-mega-million-jackpot-is-among-a-surge-in-huge-payouts-due-to-more-than-just-luck/
|
13% Sequential Revenue Growth Including 10% Organic
Maintains Strong Balance Sheet Post-Acquisitions of Atreus and businessfourzero
CHICAGO, July 31, 2023 /PRNewswire/ -- Today Heidrick & Struggles International, Inc. (Nasdaq: HSII) ("Heidrick & Struggles", "Heidrick" or the "Company") announced financial results for its second quarter ended June 30, 2023.
Second Quarter Highlights:
- Net revenue of $271.2 million increased 13% sequentially, 10% organically
- Operating income of $13.6 million decreased $4.2 million sequentially and operating margin was 5.0%
- Adjusted operating income of $20.8 million increased 17% sequentially and adjusted operating margin was 7.7%
- Adjusted EBITDA of $36.4 million increased 33% sequentially and adjusted EBITDA margin was 13.4%
- Net income was $9.0 million and diluted earnings per share was $0.44; adjusted net income was $15.0 million and adjusted diluted earnings per share was $0.73
"We are very pleased with the second quarter results which included the first full quarter of results from our recent acquisition of Atreus Group ("Atreus") in our On-Demand Talent segment, as well as the results from businessfourzero ("B4Z") in our Heidrick Consulting segment. Even before the positive effects of these acquisitions, each of our lines of business demonstrated organic sequential growth, despite ongoing macro uncertainty and an anticipated return to more normalized levels of business performance. This validates our focus on the steadfast execution of our strategy while maintaining strong profitability," stated Heidrick & Struggles' President and Chief Executive Officer, Krishnan Rajagopalan. "Importantly, the integrations of both our recent acquisitions are progressing smoothly. We are advancing our diversification strategy while continuing to make appropriate investments in our digital capabilities and technologies throughout the company. These initiatives are aimed at providing our clients with the next generation of talent and leadership advisory services, enabling them to achieve higher performance through their leaders and teams in an ever-evolving business landscape."
2023 Second Quarter Results
Consolidated net revenue of $271.2 million compared to record consolidated net revenue of $298.7 million in the 2022 second quarter. Consolidated financial results include the first full quarter of contribution from the Company's recent acquisitions of Atreus and B4Z.
On a sequential basis, 2023 second quarter net revenue increased 13.3% from the 2023 first quarter, 10% of that growth was organic, as the Company experienced growth in Executive Search driven by the Americas and Europe markets, partially offset by a decline in the Asia Pacific market, along with sequential revenue growth in Heidrick Consulting and On-Demand Talent. 2023 second quarter adjusted operating income increased 17.2% and adjusted operating margin increased 30 basis points to 7.7% compared to 7.4% in the 2023 first quarter. Adjusted EBITDA of $36.4 million in the 2023 second quarter increased 33% sequentially and adjusted EBITDA margin increased 190 basis points to 13.4% compared to 11.5% in the 2023 first quarter. 2023 second quarter adjusted net income was $15.0 million compared to $15.6 million in the 2023 first quarter. This generated adjusted diluted earnings per share in the 2023 second quarter of $0.73 compared to $0.76 in the 2023 first quarter.
Executive Search net revenue of $206.8 million compared to net revenue of $253.9 million in the 2022 second quarter reflecting an anticipated market slowdown combined with a return to more normalized operating levels. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 0.3%, or $0.8 million, net revenue decreased 18.2%, or $46.3 million, from the 2022 second quarter. Net revenue decreased 21.3% in the Americas (down 21.2% on a constant currency basis), decreased 5.3% in Europe (down 6.1% on a constant currency basis), and decreased 23.9% in Asia Pacific (down 20.5% on a constant currency basis) when compared to the prior year second quarter. The Social Impact and Industrial practice groups exhibited growth over the prior year.
The Company had 423 Executive Search consultants at June 30, 2023, compared to 388 at June 30, 2022. Productivity, as measured by annualized Executive Search net revenue per consultant, was $1.9 million compared to $2.6 million in the 2022 second quarter, reflecting a higher number of consultants combined with lower revenue. Average revenue per executive search was approximately $143,000 compared to $153,000 in the prior year period. The number of search confirmations decreased 12.7% compared to the year-ago period.
On-Demand Talent net revenue of $39.2 million, an increase of 75.5% compared to net revenue of $22.4 million in the 2022 second quarter, primarily due to the acquisition of Atreus, partially offset by a decrease in the volume of legacy on-demand projects.
Heidrick Consulting net revenue of $25.2 million compared to net revenue of $22.4 million in the 2022 second quarter. The Company had 89 Heidrick Consulting consultants at June 30, 2023, compared to 66 at June 30, 2022.
Consolidated salaries and benefits decreased $28.8 million, or 13.9%, to $178.9 million compared to $207.7 million in the 2022 second quarter. Year-over-year, fixed compensation expense increased $18.8 million due to base salaries and payroll taxes, the deferred compensation plan, reorganization, and retirement and benefits, as well as the acquisitions of Atreus and B4Z, partially offset by a decrease in stock compensation. Variable compensation decreased $47.6 million due to lower bonus accruals related to decreased consultant productivity. Salaries and benefits expense was 66.0% of net revenue for the quarter compared to 69.5% in the 2022 second quarter.
General and administrative expenses increased $5.3 million, or 15.1%, to $40.5 million compared to $35.2 million in the 2022 second quarter. The increase was due to intangible amortization and accretion, office occupancy, IT, and taxes and licenses, partially offset by a decrease in business development travel. As a percentage of net revenue, general and administrative expenses were 14.9% for the 2023 second quarter compared to 11.8% in the 2022 second quarter.
The Company's cost of services was $25.3 million, or 9.3% of net revenue for the quarter, compared to $17.4 million, or 5.8% of net revenue in the 2022 second quarter. This related to an increase in the volume of On-Demand Talent projects driven by the acquisition of Atreus.
The Company's research and development expenses were $5.7 million, or 2.1%, of net revenue for the quarter compared to $4.5 million, or 1.5%, of net revenue for the second quarter 2022.
In the 2023 second quarter, the Company recorded a non-cash goodwill impairment charge of $7.2 million associated with the Company's Heidrick Consulting segment. In the 2022 fourth quarter, the Company conducted its most recent annual goodwill impairment evaluation, which indicated that the carrying value of the Heidrick Consulting reporting unit was less than its fair value. During the 2023 second quarter, the Company acquired B4Z and recorded approximately $7.1 million of goodwill in the Heidrick Consulting reporting unit. Due to the inclusion of goodwill in a reporting unit with a pre-existing fair value shortfall, the Company identified a triggering event and performed an interim goodwill impairment evaluation during the 2023 second quarter, which resulted in the impairment of the recently acquired B4Z goodwill.
Including the previously mentioned non-cash impairment charge, operating income was $13.6 million for the quarter compared to $33.9 million in the 2022 second quarter. Operating income margin was 5.0% versus 11.3% in the 2022 second quarter. Excluding the non-cash impairment charge, adjusted operating income in the 2023 second quarter was $20.8 million and adjusted operating margin was 7.7%.
Adjusted EBITDA was $36.4 million compared to $36.8 million in the 2022 second quarter. Adjusted EBITDA margin was 13.4%, compared to 12.3% in the 2022 second quarter. In Executive Search, adjusted EBITDA was $53.9 million compared to $52.3 million in the prior year period. In On-Demand Talent, adjusted EBITDA was $2.6 million versus $0.6 million in the prior year period. In Heidrick Consulting, adjusted EBITDA was a loss of $1.6 million compared to a loss of $0.1 million in the prior year period.
Net income was $9.0 million and diluted earnings per share was $0.44, with an effective tax rate of 46.8%. This compares to net income of $24.1 million and diluted earnings per share of $1.19, with an effective tax rate of 30.9% in the 2022 second quarter. Excluding the non-cash impairment charge recorded in the 2023 second quarter, adjusted net income was $15.0 million and adjusted diluted earnings per share was $0.73, with an adjusted effective tax rate of 37.7%.
Net cash provided by operating activities was $46.9 million, compared to $82.7 million in the 2022 second quarter. Cash, cash equivalents and marketable securities at June 30, 2023 was $239.0 million compared to $336.6 million at June 30, 2022 and $621.6 million at December 31, 2022. The Company's cash position typically builds throughout the year as employee bonuses are accrued, mostly to be paid out in the first half of the year.
2023 Six Months Results
For the six months ended June 30, 2023, consolidated net revenue was $510.5 million compared to $582.6 million in the first six months of 2022. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 1.0%, or $6.1 million, consolidated net revenue decreased 11.3%, or $65.9 million, compared to the prior year period.
Executive Search net revenue in the first six months of 2023 decreased 20.0%, or $99.2 million, to $397.3 million from $496.5 million in the first six months of 2022. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 1.0%, or $5.1 million, net revenue decreased 19.0%, or $94.1 million. Net revenue decreased 21.5% in the Americas (decreased 21.3% on a constant currency basis), decreased 13.7% in Europe (decreased 11.3% on a constant currency basis), and decreased 21.9% in Asia Pacific (decreased 18.0% on a constant currency basis). Only the Social Impact and Industrial practice groups exhibited growth over the prior year. Productivity was $1.9 million for the first six months of 2023 compared to $2.6 million in the first six months of 2022. The average revenue per executive search was $133,000 in the first six months of 2023 compared to $137,000 the same period in 2022, while search confirmations decreased 17.6%.
On-Demand Talent net revenue in the first six months of 2023 was $70.4 million compared to $45.7 million in the same period of 2022. The increase in net revenue was primarily driven by the acquisition of Atreus, as well as an increase in the volume of legacy on-demand projects.
Heidrick Consulting net revenue in the first six months of 2023 increased 6.3%, or $2.5 million, to $42.9 million from $40.4 million in the first six months of 2022. Excluding the impact of exchange rate fluctuations, which negatively impacted results by 2.0%, or $0.8 million, Heidrick Consulting revenue increased 8.3%, or $3.3 million, compared to the prior year period.
Operating income for the first six months of 2023 was $31.4 million compared to operating income of $64.1 million in the same period of 2022. The operating income margin was 6.1% compared to 11.0% in the first six months of 2022. Excluding the non-cash impairment charge recorded in the 2023 year-to-date period, adjusted operating income was $38.6 million and adjusted operating income margin was 7.6%.
Adjusted EBITDA for the first six months of 2023 was $63.8 million and adjusted EBITDA margin was 12.5%, compared to adjusted EBITDA of $72.5 million and adjusted EBITDA margin of 12.4% for the same period in 2022. In Executive Search, adjusted EBITDA was $102.3 million compared to $104.2 million in the prior year period. In On-Demand Talent, adjusted EBITDA was $1.2 million versus $0.9 million in the prior year period. In Heidrick Consulting, adjusted EBITDA was a loss of $4.3 million compared to a loss of $1.9 million in the prior year period.
Net income for the first six months of 2023 was $24.6 million and diluted earnings per share was $1.19, with an effective tax rate of 38.1%. This compares to net income of $42.6 million and diluted earnings per share of $2.08, with an effective tax rate of 32.2%, in the first six months of 2022. Excluding the restructuring charge recorded in the 2023 year-to-date period, adjusted net income was $30.6 million and adjusted diluted earnings per share was $1.48 with an adjusted effective tax rate of 34.8%.
Dividend
The Board of Directors declared a 2023 second quarter cash dividend of $0.15 per share payable on August 25, 2023, to shareholders of record at the close of business on August 11, 2023.
2023 Third Quarter Outlook
The Company expects 2023 third quarter consolidated net revenue of between $245 million and $265 million, which reflects typical summer seasonality, while acknowledging that continued fluidity in external factors, such as the foreign exchange and interest rate environments, foreign conflicts, inflation and macroeconomic constraints on pricing actions, may impact quarterly results. In addition, this outlook is based on the average currency rates in June 2023 and reflects, among other factors, management's assumptions for the anticipated volume of new Executive Search confirmations, On-Demand Talent projects, and Heidrick Consulting assignments, consultant productivity, consultant retention, and the seasonality of the business along with the current backlog.
Quarterly Webcast and Conference Call
Heidrick & Struggles will host a conference call to review its second quarter results today, July 31, 2023 at 5:00 pm Eastern Time. Participants may access the Company's call and supporting slides through its website at www.heidrick.com or by dialing (888) 440-4091 or (646) 960-0846, conference ID# 6106012. For those unable to participate on the live call, a webcast and copy of the slides will be archived at www.heidrick.com and available for up to 30 days following the investor call.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles (Nasdaq: HSII) is a premier provider of global leadership advisory and on-demand talent solutions, serving the senior-level talent and consulting needs of the world's top organizations. In our role as trusted leadership advisors, we partner with our clients to develop future-ready leaders and organizations, bringing together our services and offerings in executive search, diversity and inclusion, leadership assessment and development, organization and team acceleration, culture shaping and on-demand, independent talent solutions. Heidrick & Struggles pioneered the profession of executive search more than 65 years ago. Today, the firm provides integrated talent and human capital solutions to help our clients change the world, one leadership team at a time. ® www.heidrick.com
Non-GAAP Financial Measures
To supplement the financial results presented in accordance with generally accepted accounting principles in the United States ("GAAP"), Heidrick & Struggles presents certain non-GAAP financial measures. A "non-GAAP financial measure" is defined as a numerical measure of a company's financial performance that excludes or includes amounts different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of comprehensive income, balance sheets or statements of cash flow of the Company.
Non-GAAP financial measures used within this earnings release are adjusted operating income, adjusted operating income margin, adjusted net income, adjusted diluted earnings per share, adjusted effective tax rate, adjusted EBITDA, adjusted EBITDA margin, and consolidated net revenue excluding the impact of exchange rate fluctuations. These measures are presented because management uses this information to monitor and evaluate financial results and trends. Management believes this information is also useful for investors to evaluate the comparability of financial information presented. Reconciliations of these non-GAAP financial measures to the most directly comparable measures calculated and presented in accordance with GAAP are provided as schedules attached to this release.
Adjusted operating income reflects the exclusion of goodwill impairment.
Adjusted operating income margin refers to adjusted operating income as a percentage of net revenue in the same period.
Adjusted net income and adjusted diluted earnings per share reflect the exclusion of goodwill impairment, net of tax.
Adjusted effective tax rate reflects the exclusion of goodwill impairment, net of tax.
Adjusted EBITDA refers to earnings before interest, taxes, depreciation, intangible amortization, equity-settled stock compensation expense, earnout accretion, earnout obligation adjustments, contingent compensation related to acquisitions, deferred compensation plan income and expense, reorganization costs, impairment charges, restructuring charges, and other non-operating income (expense).
Adjusted EBITDA margin refers to adjusted EBITDA as a percentage of net revenue in the same period.
The Company evaluates its results of operations on both an as reported and a constant currency basis. The constant currency presentation is a non-GAAP financial measure, which excludes the impact of fluctuations in foreign currency exchange rates. The Company believes providing constant currency information provides valuable supplemental information regarding its results of operations, consistent with how it evaluates its performance. The Company calculates constant currency percentages by converting its financial results in a local currency for a period using the average exchange rate for the prior period to which it is comparing. This calculation may differ from similarly titled measures used by other companies.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the federal securities laws, including statements regarding guidance for the third quarter of 2023. The forward-looking statements are based on current expectations, estimates, forecasts, and projections about the industry in which we operate and management's beliefs and assumptions. Forward-looking statements may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "outlook," "projects," "forecasts," "aim" and similar expressions. Forward-looking statements are not guarantees of future performance, rely on a number of assumptions, and involve certain known and unknown risks and uncertainties that are difficult to predict, many of which are beyond our control. Factors that may cause actual outcomes and results to differ materially from what is expressed, forecasted, or implied in the forward-looking statements include, among other things, our ability to attract, integrate, develop, manage and retain qualified consultants and senior leaders; our ability to prevent our consultants from taking our clients with them to another firm; our ability to maintain our professional reputation and brand name; our clients' ability to restrict us from recruiting their employees; our heavy reliance on information management systems; risks arising from our implementation of new technology and intellectual property to deliver new products and services to our clients; our dependence on third parties for the execution of certain critical functions; the fact that we face the risk of liability in the services we perform; the fact that data security, data privacy and data protection laws and other evolving regulations and cross-border data transfer restrictions may limit the use of our services and adversely affect our business; any challenges to the classification of our on-demand talent as independent contractors; the increased cybersecurity requirements, vulnerabilities, threats and more sophisticated and targeted cyber-related attacks that could pose a risk to our systems, networks, solutions, services and data; the impacts, direct and indirect, of the COVID-19 pandemic (including the emergence of variant strains) or other highly infectious or contagious disease on our business, our consultants and employees, and the overall economy; the aggressive competition we face; the fact that our net revenue may be affected by adverse economic conditions including inflation, the impact of foreign currency exchange rate fluctuations; our ability to access additional credit; social, political, regulatory, legal and economic risks in markets where we operate, including the impact of the ongoing war in Ukraine and the risks of an expansion or escalation of that conflict; unfavorable tax law changes and tax authority rulings; the timing of the establishment or reversal of valuation allowance on deferred tax assets; the fact that we may not be able to align our cost structure with net revenue; any impairment of our goodwill, other intangible assets and other long-lived assets; our ability to execute and integrate future acquisitions; and the fact that we have anti-takeover provisions that could make an acquisition of us difficult and expensive. We caution the reader that the list of factors may not be exhaustive. For more information on these risks, uncertainties and other factors, refer to our Annual Report on Form 10-K for the year ended December 31, 2022, under the heading "Risk Factors" in Item 1A, as updated in Part II of our subsequent Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date of this press release. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
Investors & Analysts:
Suzanne Rosenberg, Vice President, Investor Relations
srosenberg@heidrick.com
Media:
Nina Chang, Vice President, Corporate Communications
nchang@heidrick.com
View original content:
SOURCE Heidrick & Struggles International, Inc.
|
https://www.wibw.com/prnewswire/2023/07/31/heidrick-amp-struggles-reports-second-quarter-2023-results/
| 2023-07-31T20:48:07
| 0
|
https://www.wibw.com/prnewswire/2023/07/31/heidrick-amp-struggles-reports-second-quarter-2023-results/
|
MOJAVE NATIONAL PRESERVE, Calif. (AP) — A massive wildfire burning out of control in California’s Mojave National Preserve was spreading rapidly amid erratic winds, while firefighters reported progress against another major blaze to the southwest that prompted evacuations.
The York Fire that erupted Friday near the remote Caruthers Canyon area of the vast wildland preserve crossed the state line into Nevada on Sunday and sent smoke further east into the Las Vegas Valley.
Wind-driven flames 20 feet (6 meters) high in some spots charred more than 110 square miles (284 square kilometers) of desert scrub, juniper and Joshua tree woodland, according to an incident update. There was zero containment.
“The dry fuel acts as a ready ignition source, and when paired with those weather conditions it resulted in long-distance fire run and high flames, leading to extreme fire behavior,” the update said. No structures were threatened.
To the southwest, the Bonny Fire was holding steady at about 3.4 square miles (8.8 square kilometers) in rugged hills of Riverside County. More than 1,300 people were ordered to evacuate their homes Saturday near the community of Aguanga that is home to horse ranches and wineries.
Gusty winds and the chance of thunderstorms into Monday will heighten the risk of renewed growth, the California Department of Forestry and Fire Protection said in a statement.
One firefighter was injured in the blaze, which was 5% contained.
|
https://www.kron4.com/news/national/ap-us-news/ap-erratic-winds-challenge-firefighters-battling-two-major-california-blazes/
| 2023-07-31T20:48:06
| 1
|
https://www.kron4.com/news/national/ap-us-news/ap-erratic-winds-challenge-firefighters-battling-two-major-california-blazes/
|
LINKBANCORP, Inc. Announces Second Quarter 2023 Financial Results
Published: Jul. 31, 2023 at 3:30 PM CDT|Updated: 17 minutes ago
HARRISBURG, Pa., July 31, 2023 /PRNewswire/ -- LINKBANCORP, Inc. (NASDAQ: LNKB) (the "Company"), the parent company of LINKBANK (the "Bank") reported net income of $1.35 million, or $0.08 per diluted share, for the quarter ended June 30, 2023. Excluding merger related expenses, adjusted earnings were $1.60 million1, or $0.101 per diluted share for the second quarter of 2023.
Second Quarter 2023 Highlights
Total deposits grew $50.3 million, or 20.5% annualized during the second quarter over the prior quarter end, including an increase in noninterest bearing deposits of $36.2 million, and $14.1 million in interest bearing deposits. Estimated uninsured deposits, excluding collateralized public funds and affiliate company accounts, totaled $378.7 million, or 36.7% of total deposits as of June 30, 2023, compared with $387.8 million, or 39.4% of total deposits as of March 31, 2023.
The Company enhanced its on-balance sheet liquidity, with cash and cash equivalents as of June 30, 2023 of $123.2 million, up from $51.7 million at March 31, 2023 and $30.0 million at December 31, 2022. Total liquidity, including all available borrowing capacity and brokered deposit availability, together with cash and cash equivalents and unpledged investment securities, totaled approximately $507.4 million as of June 30, 2023.
Total loans grew $24.2 million during the second quarter, representing a 10.3% annualized growth rate, driven primarily by commercial and industrial and commercial real estate loan activity.
Net interest income for the second quarter of 2023 was $8.1 million, compared to $8.0 million for the first quarter of 2023. Net interest margin was 2.81% for the second quarter of 2023, compared to 2.95% for the first quarter of 2023. The linked quarter decrease was primarily due to higher interest expense on deposits continuing to outpace the increase in interest income from loans.
The Company recorded a $493 thousand negative provision for credit losses for the second quarter of 2023, resulting in an allowance for credit losses of $10.2 million, or 1.05% of total loans at June 30, 2023. The negative provision for credit losses was primarily driven by refinement of the population of loans individually assessed for impairment under the current expected credit losses ("CECL") accounting standard, improvements in internal credit metrics and external forecast indexes, as well as $97 thousand in net recoveries, offset by loan growth in the period.
On June 22, 2023, shareholders of the Company and Partners Bancorp ("Partners"), each approved the merger of Partners with and into the Company, with the Company as the surviving corporation pursuant to the Agreement and Plan of Merger, dated as of February 22, 2023. The merger is expected to close in the third or fourth quarter of 2023, subject to regulatory approvals and certain other customary closing conditions.
"We are pleased to report results that evidence continued balance sheet strength, including increased on-balance sheet liquidity, a growing core deposit base, and excellent credit quality." said Andrew Samuel, Chief Executive Officer. "Although significant uncertainty remains in the external environment, we are optimistic that the pace of margin compression will continue to stabilize. Our teams are highly focused on providing superior service to meet our clients' needs and we believe the Company is well positioned to successfully navigate through this climate."
Income Statement
Net interest income before the provision for credit losses for the second quarter of 2023 increased to $8.1 million compared to $8.0 million in the first quarter of 2023. Net interest margin was 2.81% for the second quarter of 2023 compared to 2.95% for the first quarter of 2023. The decrease in net interest margin for the current quarter was due to the higher average rate paid on interest-bearing liabilities, which outpaced the increase in the average yield on interest earning assets. The overall rate and yield increases were driven by the multiple federal funds rate increases that occurred over the preceding twelve months, coupled with competition for deposits in the market. The rate of increase in the cost of funds moderated to 30 basis points in the second quarter of 2023, primarily resulting from strong growth in the average balance of non-interest bearing deposits, which increased approximately $17.0 million to $209.1 million, compared to $192.1 million for the first quarter. The 30 basis points increase in the cost of funds to 2.29% during the second quarter of 2023 was partially offset by a 15 basis point increase in the average yield on interest-earning assets to 5.00%. The increase in the average yield on interest-earning assets was primarily due to the increase in the average yield on loans of 11 basis points to 5.20% during the second quarter of 2023.
During the second quarter, the Company continued to recognize results from its increased internal focus and strategy on core deposit generation, including 123 net new checking accounts opened for a total of $38 million in new deposits. Additionally, further momentum in executing the Company's strategies to service the needs of professional services firms resulted in 58 new accounts opened during the quarter, which are expected to fund over the course of the third quarter. As a result of these positive trends, the Company expects to allow higher cost brokered deposits to mature, replaced by core accounts at a lower cost, contributing to further stabilization in net interest margin.
Noninterest income (expense) improved from a $1.9 million expense in the first quarter of 2023, driven by recognition of a loss upon the sale of debt securities of $2.37 million, to $886 thousand in income in the second quarter of 2023. Excluding the first quarter loss on the sale of debt securities, adjusted noninterest income for the second quarter of 2023 increased $369 thousand to $886 thousand, primarily due to gains on the sale of Small Business Administration ("SBA") loans of $296 thousand and $57 thousand in commercial loan-related interest rate swap fees.
Noninterest expense for the second quarter of 2023 increased to $7.8 million compared to $7.7 million for the first quarter of 2023. Excluding one time charges relating to the pending merger with Partners Bancorp of $587 thousand in the first quarter of 2023 and $315 thousand in the second quarter of 2023, adjusted noninterest expense increased by $351 thousand in the second quarter, impacted by increased equipment and data processing expense as the Company continues to enhance its technology platform, as well as elevated accrual of fraud and operating losses.
Balance Sheet
Total assets were $1.31 billion at June 30, 2023 compared to $1.21 billion at March 31, 2023 and $1.06 billion at June 30, 2022. Deposits and net loans as of June 30, 2023 totaled $1.03 billion and $959.3 million, respectively, compared to deposits and net loans of $984.5 million and $934.8 million, respectively, at March 31, 2023 and $902.4 million and $786.5 million, respectively, at June 30, 2022.
Total loans increased $24.2 million from March 31, 2023 to June 30, 2023, or 10.25% annualized, with the average commercial loan commitment originated during the second quarter of 2023 totaling approximately $500,000.
The Company has proactively taken additional steps during the quarter to enhance its on-balance sheet liquidity. Cash and cash equivalents increased to $123.2 million at June 30, 2023 compared to $51.7 million at March 31, 2023 and $30.0 million at December 31, 2022. In addition to growth in core deposits, this position was supported by an additional $43.7 million in borrowings related to $75.0 million in wholesale funding in connection with the execution of a pay-fixed/receive-floating interest rate swap. The interest rate swap has a fixed rate of 3.28%, a maturity of five years and is designated against either a mix of one-month FHLB advances or brokered certificates of deposits. Classified as a cash flow hedge, the market fluctuations will not impact future earnings, but will impact accumulated other comprehensive loss.
Deposits at June 30, 2023 totaled $1.03 billion, an increase of $50.3 million compared to $984.5 million at March 31, 2023. Average deposits increased by $17.0 million during the quarter, or 6.9% annualized, driven by a 35.3% increase in average noninterest bearing deposits from $192.1 million for the first quarter of 2023 to $209.1 million for the second quarter of 2023.
Shareholders' equity increased from $141.6 million at March 31, 2023 to $142.5 million at June 30, 2023. The increase included an increase in retained earnings due to net income for the current quarter, and a decrease in other comprehensive loss resulting from changes in the interest rate environment, offset by dividends paid of $1.2 million.
Asset Quality
In the second quarter of 2023, the Company recorded a negative provision for credit losses, calculated under the CECL model, of $493 thousand, compared to a provision for credit losses of $293 thousand in the first quarter. The negative provision for credit losses included the impact of reductions in the allowance for credit losses due to refinement of the population of loans individually assessed for impairment under CECL, improvements in internal credit metrics and external forecast indexes, as well as $97 thousand in net recoveries, offset by loan growth in the period.
Asset quality metrics remain strong. As of June 30, 2023, the Company's non-performing assets were $2.9 million, representing 0.22% of total assets. Non-performing assets at June 30, 2023 excluded purchased with credit deterioration ("PCD") loans with a balance of $2.1 million. Loans 30-89 days past due at June 30, 2023 were $1.8 million, representing 0.18% of total loans.
The allowance for credit losses-loans was $10.2 million, or 1.05% of total loans at June 30, 2023, compared to the allowance for credit losses-loans of $10.5 million, or 1.11% of total loans, at March 31, 2023. The allowance for credit losses-loans to nonperforming assets was 358.12% at June 30, 2023, compared to 438.95% at March 31, 2023.
The Company's risk management function incorporates extensive diversification, monitoring and hold limits with respect to the commercial real estate loan portfolio and management closely monitors concentration reports and related analyses. The commercial real estate loan portfolio is well-diversified, with limited exposure to higher risk segments such as hotels and retail. Management believes that the office space portfolio, which includes medical and mixed-use space, and does not involve properties in major metropolitan business districts, is stable and does not pose excessive risk. Specifically, at June 30, 2023, the Company had 68 loans related to office space, with an average loan size of $1.8 million and total current outstanding balances of $103.0 million. The largest exposure relating to office space is $8.8 million for a construction loan that will constitute owner-occupied real estate upon completion. Eighty-four percent (84%) of office space loans are guaranteed by high-quality principals and no office loans are past due 30 days or greater.
Capital
The Bank's regulatory capital ratios are well in excess of regulatory minimums to be considered "well capitalized" as of June 30, 2023. The Bank's Total Capital Ratio and Tier 1 Capital Ratio was 13.55% and 12.94% , respectively, at June 30, 2023, compared to 13.53% and 12.32%, respectively, at March 31, 2023 and 12.89% and 12.41%, respectively, at December 31, 2022. The Company's ratio of Tangible Common Equity to Tangible Assets was 8.31%2 at June 30, 2023.
ABOUT LINKBANCORP, Inc.
LINKBANCORP, Inc. was formed in 2018 with a mission to positively impact lives through community banking. Its subsidiary bank, LINKBANK, is a Pennsylvania state-chartered bank serving individuals, families, nonprofits and business clients throughout Central and Southeastern Pennsylvania through 10 client solutions centers and www.linkbank.com. LINKBANCORP, Inc. common stock is traded on the Nasdaq Capital Market under the symbol "LNKB". For further company information, visit ir.linkbancorp.com.
Forward Looking Statements
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of current or historical fact and involve substantial risks and uncertainties. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," and other similar expressions can be used to identify forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: costs or difficulties associated with newly developed or acquired operations; risks related to the proposed merger with Partners; changes in general economic trends, including inflation and changes in interest rates; increased competition; changes in consumer demand for financial services; our ability to control costs and expenses; adverse developments in borrower industries and, in particular, declines in real estate values; changes in and compliance with federal and state laws that regulate our business and capital levels; our ability to raise capital as needed; and the effects of the COVID-19 pandemic and actions taken by governments, businesses and individuals in response. The Company does not undertake, and specifically disclaims, any obligation to publicly revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. Accordingly, you should not place undue reliance on forward-looking statements.
LB-E LB-D
Appendix A – Reconciliation to Non-GAAP Financial Measures
This document contains supplemental financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management uses these non-GAAP measures in its analysis of the Company's performance. These measures should not be considered a substitute for GAAP basis measures nor should they be viewed as a substitute for operating results determined in accordance with GAAP. Management believes the presentation of non-GAAP financial measures that exclude the impact of specified items provide useful supplemental information that is essential to a proper understanding of the Company's financial condition and results. Non-GAAP measures are not formally defined under GAAP, and other entities may use calculation methods that differ from those used by us. As a complement to GAAP financial measures, our management believes these non-GAAP financial measures assist investors in comparing the financial condition and results of operations of financial institutions due to the industry prevalence of such non-GAAP measures. See the tables below for a reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures.
Contact: Nicole Ulmer Corporate and Investor Relations Officer 717.803.8895 IR@LINKBANCORP.COM
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.
|
https://www.kxii.com/prnewswire/2023/07/31/linkbancorp-inc-announces-second-quarter-2023-financial-results/
| 2023-07-31T20:48:09
| 0
|
https://www.kxii.com/prnewswire/2023/07/31/linkbancorp-inc-announces-second-quarter-2023-financial-results/
|
AUCKLAND, New Zealand (AP) — The United States arrived at the Women’s World Cup as the favorites to win an unprecedented third consecutive title. But after an underwhelming draw against the Netherlands, there’s a real chance the Americans can be eliminated in group play for the first time in tournament history.
The U.S. plays Portugal in the third and final match of Group E play, and if Portugal pulls off an upset Tuesday at Eden Park in Auckland, the Americans could be in big trouble.
The United States needs to either win or draw against Portugal, one of eight teams playing in its first World Cup, to ensure the Americans continue to play in this tournament.
“I think we feel like we have to win everything all the time,” said American star Megan Rapinoe. “That’s the expectation for ourselves. That’s the expectation playing for U.S. national team. It’s just kind of like, ‘Why would you come into the World Cup if you don’t think that you should win it, and if you don’t think that you can win it?’”
The United States sits atop the group after a 3-0 victory over Vietnam in the tournament opener, and a 1-1 draw with the Netherlands last Thursday in Wellington. The Dutch are tied with the U.S. on points, but the Americans have the tie-breaker on goals scored.
Portugal lost to the Dutch in its opener but then beat Vietnam 2-0. So if the Portuguese beat the United States, they’ll move on, and the Americans would then need Vietnam to beat the Dutch in Dunedin — while keeping their advantage on goal differential — to advance.
“One thing is for sure, that we have a job to do and that’s first and foremost to take care of our game, so our main focus right now it our performance, our team, and Portugal,” said U.S. coach Vlatko Andonovski. “What happens on the other side is something we can’t control. We have to stay focused on the things we can control.”
Portugal could use a swarming defense to try to prevent the United States from scoring the way Vietnam — unsuccessfully — played the Americans in the opener.
Portugal defender Ana Borges said her team will be prepared.
“This is the stage where we want to be. It’s against these teams that we want to play because we’re going to learn and grow from them,” Borges said. “Not saying anything about the other team, but if we weren’t prepared for this challenge, we wouldn’t be playing football.”
CHINA-ENGLAND
England is in very good shape headed into its Group D finale against China, needing only a draw Tuesday night in Adelaide, Australia to win the group and advance to the round of 16.
Even a loss would be OK and push England through as group winners so long as Denmark doesn’t beat Haiti. If Denmark won and England lost, the group winner would be decided by FIFA tiebreakers.
England edged out a 1-0 victory over Haiti to open the tournament, then beat Denmark by the same score.
China lost 1-0 to Denmark in the opener but rebounded with a 1-0 win over Haiti and is now trying to keep its streak intact of advancing out of group play in all eight of its World Cup appearances.
It will be a tough task: China can advance to the round of 16 if the Chinese beat England. But if Denmark beats Haiti, coupled with a China win, then FIFA tiebreakers would come into a play. A loss would mean China’s only chance at advancing would be if Haiti beat Denmark.
England and China meet for just the fifth time, but first since a 2-1 China victory in 2015.
England has scored in each of its last 15 matches at the Women’s World Cup for a tally of 25 goals since 2015. A goal against China would make England the first team to score in 16 consecutive matches in the tournament.
China is looking to win consecutive World Cup games for the first time since 1999.
VIETNAM-NETHERLANDS
The Netherlands want to win every match in the Women’s World Cup but none more so than Tuesday’s game against Vietnam.
At stake: avoiding Sweden in the knockout round.
The Dutch, the tournament runner-up in 2019, need only a win or a draw in the Group E match played in Dunedin, New Zealand. And even a loss would be OK so long as the United States beats Portugal in a game being played simultaneously.
But the Netherlands has mapped out the tournament and wants no part of Sweden anytime soon.
“The first aim is always to win and get to the last 16 and then after that if we can score goals we will, of course,” said Dutch coach Andries Jonker. “But looking at our colleagues from the U.S. and Portugal, we’ve noticed it’s not all that easy. We’ve never shown any kind of arrogance, but if we get chances to score goals we will. We would prefer to play against the number two in this group and not Sweden.”
The Netherlands are tied with the United States for the top spot in the group after playing to a 1-1 draw against the Americans and a 1-0 win over Portugal.
Vietnam has already been eliminated from its first Women’s World Cup following losses to the United States and Portugal. Vietnam has lost its last five internationals by a combined score of 18-1.
“The Netherlands tries to have as many goals as possible, and I have to say we are at a low level,” said Vietnam coach Mai Duc Chung. “If we compare with Asia, we’re still at a low level. So if we compare with the world, we are still quite behind. It is a success for us already. In the past two matches we have tried our best. Great effort already.”
HAITI-DENMARK
First-time Women’s World Cup participant Haiti would like to stick around a bit longer but needs a miracle against in the Group D finale against Denmark to have any shot to advance.
Haiti needs to beat Denmark in the Tuesday match played in Perth, Australia, and hope England beats China. If both those things happen, Haiti’s only chance would still come down to FIFA’s tiebreaker system.
It’s very long odds for Haiti, which has played better in this tournament than its 0-2 record shows. Haiti held both England and China to one goal each in the first two matches.
Haiti is on a six-game losing streak headed into what is probably its final game of this tournament.
Denmark, meanwhile, is trying to advance to the group stage for the first time since 1995. Denmark was a 1-0 winner over China to start the tournament, then lost 1-0 to England and heads into the game tied for second in the group with China with three points each.
A win over Haiti pushes Denmark through to the next round so long as England doesn’t lose to China. That scenario would put tiebreakers into play.
The Danes, in the tournament for the first time since 2007, can also get through with a draw, but again, only if England beats China.
Denmark has won five of its last seven international matches.
___
AP World Cup coverage: https://apnews.com/hub/fifa-womens-world-cup and https://twitter.com/AP_Sports
|
https://fox59.com/sports/ap-sports/ap-us-needs-win-to-ensure-americans-avoid-elimination-in-group-play-for-first-time-in-womens-world-cup/
| 2023-07-31T20:48:09
| 1
|
https://fox59.com/sports/ap-sports/ap-us-needs-win-to-ensure-americans-avoid-elimination-in-group-play-for-first-time-in-womens-world-cup/
|
SAN JOSE, Calif., July 31, 2023 /PRNewswire/ -- Sanmina Corporation ("Sanmina" or the "Company") (NASDAQ: SANM), a leading integrated manufacturing solutions company, today reported financial results for the fiscal third quarter ended July 1, 2023 and outlook for its fiscal fourth quarter ending September 30, 2023.
"Our third quarter results were in line with our outlook. We continue to execute well and deliver consistent operating margins and solid cash generation," stated Jure Sola, Chairman and Chief Executive Officer. "Our strong performance in the first nine months and achievement of our outlook for the fourth quarter would result in fiscal 2023 revenue growth of approximately 14 percent and non-GAAP EPS growth of approximately 35 percent. The team remains focused on excellence in quality, delivery and consistently meeting the needs of our customers. We have a strong foundation and promising future," Sola concluded.
Fourth Quarter Fiscal 2023 Outlook
The following outlook is for the fiscal fourth quarter ending September 30, 2023. These statements are forward-looking and actual results may differ materially.
- Revenue between $2.1 billion to $2.2 billion
- GAAP diluted earnings per share between $1.24 to $1.34
- Non-GAAP diluted earnings per share between $1.47 to $1.57
Safe Harbor Statement
The statements above concerning our financial outlook for the fourth quarter fiscal 2023 and our expectations for growth in revenue and non-GAAP earnings per share in fiscal 2023 should such outlook be achieved, constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of factors, most notably ongoing supply chain constraints and geopolitical uncertainty, including from the conflict in Ukraine. Other factors that could cause our results to differ from our forward-looking statements include adverse changes to the key markets we target; significant uncertainties that can cause our future sales and net income to be variable; reliance on a small number of customers for a substantial portion of our sales; risks arising from our international operations; and the other risk factors set forth in the Company's annual and quarterly reports filed with the Securities Exchange Commission.
The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements made in this earnings release, the conference call or the Investor Relations section of our website whether as a result of new information, future events or otherwise, unless otherwise required by law.
Company Conference Call Information
Sanmina will hold a conference call to review its financial results for the third quarter and outlook for the fourth quarter of fiscal 2023 on Monday, July 31, 2023 at 5:30 p.m. ET (2:30 p.m. PT). The access numbers are: domestic 833-816-1390 and international 412-317-0483. The conference will also be webcast live over the Internet. You can log on to the live webcast at Q3 Webcast Link. Additional information in the form of a slide presentation is available on Sanmina's website at www.sanmina.com. A replay of the conference call will be available for 48-hours. The access numbers are: domestic 877-344-7529 and international 412-317-0088, access code is 1520057.
About Sanmina
Sanmina Corporation, a Fortune 500 company, is a leading integrated manufacturing solutions provider serving the fastest growing segments of the global Electronics Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs) primarily in the industrial, medical, defense and aerospace, automotive, communications networks and cloud infrastructure markets. Sanmina has facilities strategically located in key regions throughout the world. More information about the Company is available at www.sanmina.com.
Sanmina Contact
Paige Melching
SVP, Investor Communications
408-964-3610
Schedule 1
The statements above and financial information provided in this earnings release include non-GAAP measures of operating income, operating margin, net income, diluted earnings per share and pre-tax return on invested capital (ROIC). Management excludes from these measures stock-based compensation, restructuring, acquisition and integration expenses, impairment charges, amortization charges and other unusual or infrequent items, as adjusted for taxes, as more fully described below.
Management excludes these items principally because such charges or benefits are not directly related to the Company's ongoing core business operations. We use such non-GAAP measures in order to (1) make more meaningful period-to-period comparisons of the Company's operations, both internally and externally, (2) guide management in assessing the performance of the business, internally allocating resources and making decisions in furtherance of Company's strategic plan, (3) provide investors with a better understanding of how management plans and measures the business and (4) provide investors with a better understanding of our ongoing, core business. The material limitations to management's approach include the fact that the charges, benefits and expenses excluded are nonetheless charges, benefits and expenses required to be recognized under GAAP and, in some cases, consume cash which reduces the Company's liquidity. Management compensates for these limitations primarily by reviewing GAAP results to obtain a complete picture of the Company's performance and by including a reconciliation of non-GAAP results to GAAP results in its earnings releases.
Additional information regarding the economic substance of each exclusion, management's use of the resultant non-GAAP measures, the material limitations of management's approach and management's methods for compensating for such limitations is provided below.
Stock-based Compensation Expense, which consists of non-cash charges for the estimated fair value of equity awards granted to employees and directors, is excluded in order to permit more meaningful period-to-period comparisons of the Company's results since the Company grants different amounts and value of equity awards each quarter. In addition, given the fact that competitors grant different amounts and types of equity awards and may use different valuation assumptions, excluding stock-based compensation permits more accurate comparisons of the Company's core results with those of its competitors.
Restructuring, Acquisition and Integration Expenses, which consist of severance, lease termination costs, exit costs, environmental investigation, remediation and related costs and other charges primarily related to closing and consolidating manufacturing facilities and those associated with the acquisition and integration of acquired businesses, are excluded because such charges (1) can be driven by the timing of acquisitions and exit activities which are difficult to predict, (2) are not directly related to ongoing business results and (3) generally do not reflect expected future operating expenses. In addition, given the fact that the Company's competitors complete acquisitions and adopt restructuring plans at different times and in different amounts than the Company, excluding these charges or benefits permits more accurate comparisons of the Company's core results with those of its competitors. Items excluded by the Company may be different from those excluded by the Company's competitors and restructuring and integration expenses include both cash and non-cash expenses. Cash expenses reduce the Company's liquidity. Therefore, management also reviews GAAP results including these amounts.
Impairment Charges, which consist of non-cash charges, are excluded because such charges are non-recurring and do not reduce the Company's liquidity. In addition, given the fact that the Company's competitors may record impairment charges at different times, excluding these charges permits more accurate comparisons of the Company's core results with those of its competitors.
Amortization Charges, which consist of non-cash charges impacted by the timing and magnitude of acquisitions of businesses or assets, are also excluded because such charges do not reduce the Company's liquidity. In addition, such charges can be driven by the timing of acquisitions, which is difficult to predict. Excluding these charges permits more accurate comparisons of the Company's core results with those of its competitors because the Company's competitors complete acquisitions at different times and for different amounts than the Company.
Other Unusual or Infrequent Items, such as charges or benefits associated with distressed customers, expenses, charges and recoveries relating to certain legal matters, gains and losses on sales of assets, deferred tax adjustments and discrete tax items, are excluded because such items are typically non-recurring, difficult to predict or not directly related to the Company's ongoing or core operations and are therefore not considered by management in assessing the current operating performance of the Company and forecasting earnings trends. However, items excluded by the Company may be different from those excluded by the Company's competitors. In addition, these items include both cash and non-cash expenses. Cash expenses reduce the Company's liquidity. Management compensates for these limitations by reviewing GAAP results including these amounts.
Adjustments for Taxes, which consist of the tax effects of the various adjustments that we exclude from our non-GAAP measures, and adjustments related to deferred tax and discrete tax items. Including these adjustments permits more accurate comparisons of the Company's core results with those of its competitors. We determine the tax adjustments based upon the various applicable effective tax rates. In those jurisdictions in which we do not expect to realize a tax cost or benefit (due to a history of operating losses or other factors), a reduced tax rate is applied.
Logo - https://mma.prnewswire.com/media/10544/SANMINA_CORPORATION_LOGO.jpg
View original content:
SOURCE Sanmina Corporation
|
https://www.wbtv.com/prnewswire/2023/07/31/sanminas-third-quarter-fiscal-2023-financial-results/
| 2023-07-31T20:48:08
| 0
|
https://www.wbtv.com/prnewswire/2023/07/31/sanminas-third-quarter-fiscal-2023-financial-results/
|
ATLANTA (AP) — The first new U.S. nuclear reactor to be built from scratch in decades is sending electricity reliably to the grid, but the cost of the Georgia power plant could make it a dead end instead of a path to a carbon-free future.
Georgia Power Co. announced Monday that Unit 3 at Plant Vogtle, southeast of Augusta, has completed testing and is now in commercial operation, seven years late and $17 billion over budget.
At its full output of 1,100 megawatts of electricity, Unit 3 can power 500,000 homes and businesses. A number of other utilities in Georgia, Florida and Alabama are receiving the electricity, in addition to the 2.7 million customers of Southern Co. subsidiary Georgia Power.
“This hadn’t been done in this country from start to finish in some 30-plus years,” Chris Womack, CEO of Atlanta-based Southern Co. said Monday in a telephone interview. “So to do this, to get this done, to get this done right, is a wonderful accomplishment for our company, for the state and for the customers here in Georgia.”
A fourth reactor is also nearing completion at the site, where two earlier reactors have been generating electricity for decades. The Nuclear Regulatory Commission on Friday said radioactive fuel could be loaded into Unit 4, a step expected to take place before the end of September. Unit 4 is scheduled to enter commercial operation by March.
The third and fourth reactors were originally supposed to cost $14 billion, but are now on track to cost their owners $31 billion. That doesn’t include $3.7 billion that original contractor Westinghouse paid to the owners to walk away from the project. That brings total spending to almost $35 billion.
The third reactor was supposed to start generating power in 2016 when construction began in 2009.
Vogtle is important because government officials and some utilities are again looking to nuclear power to alleviate climate change by generating electricity without burning natural gas, coal and oil. But most focus in the U.S. currently is on smaller nuclear reactors, which advocates hope can be built without the cost and schedule overruns that have plagued Vogtle. For its part, Womack said Southern Co. isn’t looking to add any more reactors to its fleet.
“In terms of us making additional investments, at this time is not something that we’re going to do, but I do think others in this country should move in that direction,” Womack said.
In Georgia, almost every electric customer will pay for Vogtle. Georgia Power currently owns 45.7% of the reactors. Smaller shares are owned by Oglethorpe Power Corp., which provides electricity to member-owned cooperatives, the Municipal Electric Authority of Georgia and the city of Dalton. Oglethorpe and MEAG plan to sell power to cooperatives and municipal utilities across Georgia, as well in Jacksonville, Florida, and parts of Alabama and the Florida Panhandle.
Georgia Power’s residential customers are projected to pay more than $926 apiece as part of an ongoing finance charge and elected public service commissioners have approved a rate increase. Residential customers will pay $4 more per month as soon as the third unit begins generating power. That could hit bills in August, two months after residential customers saw a $16-a-month increase to pay for higher fuel costs.
The high construction costs have wiped out any future benefit from low nuclear fuel costs in the future, experts have repeatedly testified before commissioners.
“The cost increases and schedule delays have completely eliminated any benefit on a life-cycle cost basis,” Tom Newsome, director of utility finance for the commission, testified Thursday in a Georgia Public Service Commission hearing examining spending.
The utility will face a fight from longtime opponents of the plant, many of whom note that power generated from solar and wind would be cheaper. They say letting Georgia Power make ratepayers pay for mistakes will unfairly bolster the utility’s profits.
“While capital-intensive and expensive projects may benefit Georgia Power’s shareholders who have enjoyed record profits throughout Vogtle’s beleaguered construction, they are not the least-cost option for Georgians who are feeling the sting of repeated bill increases,” Southern Environmental Law Center staff attorney Bob Sherrier said in a statement.
Commissioners will decide later who pays for the remainder of the costs of Vogtle, including the fourth reactor. Customers will pay for the share of spending that commissioners determine was prudent, while the company and its shareholders will have to pay for spending commissioners decide was wasteful.
Georgia Power CEO Kim Greene said the company hasn’t decided how much it will ask customers to pay.
“That will be determined as we move closer and closer to our prudence filing, but we have not made a final determination,” Greene said.
|
https://www.yourbasin.com/news/national/ap-first-american-nuclear-reactor-built-from-scratch-in-decades-enters-commercial-operation-in-georgia/
| 2023-07-31T20:48:13
| 0
|
https://www.yourbasin.com/news/national/ap-first-american-nuclear-reactor-built-from-scratch-in-decades-enters-commercial-operation-in-georgia/
|
Published: Jul. 31, 2023 at 3:15 PM CDT|Updated: 31 minutes ago
Second Quarter Highlights
Second quarter 2023 net income attributable to Huntsman of $19 million compared to $228 million in the prior year period; second quarter 2023 diluted earnings per share of $0.11 compared to $1.10 in the prior year period.
Second quarter 2023 adjusted net income attributable to Huntsman of $39 million compared to $250 million in the prior year period; second quarter 2023 adjusted diluted earnings per share of $0.22 compared to $1.21 in the prior year period.
Second quarter 2023 adjusted EBITDA of $156 million compared to $410 million in the prior year period.
Second quarter 2023 net cash provided by operating activities from continuing operations was $40 million. Free cash flow from continuing operations was a use of cash of $11 million for the second quarter 2023 compared to a source of cash of $178 million in the prior year period.
Repurchased approximately 3.8 million shares for approximately $98 million in the second quarter 2023.
THE WOODLANDS, Texas, July 31, 2023 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today reported second quarter 2023 results with revenues of $1,596 million, net income attributable to Huntsman of $19 million, adjusted net income attributable to Huntsman of $39 million and adjusted EBITDA of $156 million.
Peter R. Huntsman, Chairman, President, and CEO, commented:
"During the quarter, business activity in each of our core regions remained under pressure, although we did see demand fundamentals in many of our core markets stabilize, albeit at a lower level than the prior year. We continued to drive efficiencies in our cost structure which will ensure we are well positioned to improve profitability once demand returns to a more normalized level. We remain positive on the long-term trends and value we will capture in energy efficiency and lightweighting in the construction, transportation, and industrial markets. Over the past several years we have made a significant effort to reduce leverage and drive capital discipline. The output of this effort is now allowing us to return significant amounts of capital to shareholders during a year which for the chemical industry may end up being just as, if not more, challenging than the pandemic year 2020. Our financial strength is also allowing us to evaluate both organic and in-organic investment opportunities to strengthen our Company for the long-term, however, we will continue to be disciplined with our available capital and protect our investment grade rating."
Segment Analysis for 2Q23 Compared to 2Q22
Polyurethanes
The decrease in revenues in our Polyurethanes segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes, lower MDI average selling prices and the negative impact of foreign currency exchange rate movements against the U.S dollar. Sales volumes decreased primarily due to lower demand, primarily in the Americas. MDI average selling prices decreased primarily due to less favorable supply and demand dynamics. The decrease in segment adjusted EBITDA was primarily due to lower sales volumes, lower MDI margins, the negative impact of foreign currency exchange rate movements against the U.S. dollar and a gain from an insurance settlement received in the second quarter of 2022, partially offset by higher equity earnings from our minority-owned joint venture in China and cost savings achieved from our cost optimization programs.
Performance Products
The decrease in revenues in our Performance Products segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes and reduced average selling prices, partially offset by improved sales mix. Sales volumes decreased in all regions primarily due to slowing construction activity, and reduced demand in coatings and adhesives, lubes and other industrial markets. The decrease in segment adjusted EBITDA was primarily due to decreased sales volumes and lower average selling prices.
Advanced Materials
The decrease in revenues in our Advanced Materials segment for the three months ended June 30, 2023 compared to the same period of 2022 was primarily due to lower sales volumes, partially offset by higher average selling prices. Sales volumes decreased primarily due to reduced customer demand in our infrastructure markets and the deselection of lower margin business. Average selling prices increased largely due to improved sales mix. The decrease in segment adjusted EBITDA was primarily due to lower sales volumes.
Corporate, LIFO and other
For the three months ended June 30, 2023, adjusted EBITDA from Corporate and other was a loss of $38 million, which remained the same as a loss of $38 million for the same period of 2022.
Liquidity and Capital Resources
During the three months ended June 30, 2023, our free cash flow from continuing operations was a use of cash of $11 million as compared to a source of cash of $178 million in the same period of 2022. As of June 30, 2023, we had approximately $1.9 billion of combined cash and unused borrowing capacity.
During the three months ended June 30, 2023, we spent $51 million on capital expenditures from continuing operations as compared to $65 million in the same period of 2022. During 2023, we expect to spend between $230 million to $250 million on capital expenditures.
Income Taxes
In the second quarter of 2023, our effective tax rate was 46% and our adjusted effective tax rate was 39%. We expect our 2023 adjusted effective tax rate to be approximately 26% to 29%. We expect our long-term adjusted effective tax rate to be approximately 22% to 24%. Our second quarter 2023 tax expense was negatively impacted by an $8 million non-cash valuation allowance increase.
Earnings Conference Call Information
We will hold a conference call to discuss our second quarter 2023 financial results on Tuesday, August 1, 2023, at 10:00 a.m. ET.
The conference call will be accompanied by presentation slides that will be accessible via the webcast link and Huntsman's investor relations website, www.huntsman.com/investors. Upon conclusion of the call, the webcast replay will be accessible via Huntsman's website.
Upcoming Conferences During the third quarter 2023, a member of management is expected to present at: UBS Chemical Conference on September 6, 2023 Jefferies Industrials Conference on September 7, 2023
A webcast of the presentation, if applicable, along with accompanying materials will be available at www.huntsman.com/investors.
About Huntsman: Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2022 revenues of approximately $8 billion from our continuing operations. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 60 manufacturing, R&D and operations facilities in approximately 30 countries and employ approximately 7,000 associates within our continuing operations. For more information about Huntsman, please visit the company's website at www.huntsman.com.
Forward-Looking Statements: This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, divestitures or strategic transactions, business trends and any other information that is not historical information. When used in this press release, the words "estimates," "expects," "anticipates," "likely," "projects," "outlook," "plans," "intends," "believes," "forecasts," or future or conditional verbs, such as "will," "should," "could" or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, management's examination of historical operating trends and data, are based upon our current expectations and various assumptions and beliefs. In particular, such forward-looking statements are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the Company's operations, markets, products, prices and other factors as discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"). Significant risks and uncertainties may relate to, but are not limited to, increased energy costs in Europe, inflation and resulting monetary tightening in the US, geopolitical instability, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of the Company's operations, including any delay of, or other negative developments affecting the ability to implement cost reductions and manufacturing optimization improvements in the Company's businesses and to realize anticipated cost savings, and other financial, operational, economic, competitive, environmental, political, legal, regulatory and technological factors. Any forward-looking statement should be considered in light of the risks set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022, which may be supplemented by other risks and uncertainties disclosed in any subsequent reports filed or furnished by the Company from time to time. All forward-looking statements apply only as of the date made. Except as required by law, the Company undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.
The above press release was provided courtesy of PRNewswire. The views, opinions and statements in the press release are not endorsed by Gray Media Group nor do they necessarily state or reflect those of Gray Media Group, Inc.
|
https://www.wibw.com/prnewswire/2023/07/31/huntsman-announces-second-quarter-2023-earnings/
| 2023-07-31T20:48:13
| 0
|
https://www.wibw.com/prnewswire/2023/07/31/huntsman-announces-second-quarter-2023-earnings/
|
PHOENIX (AP) — Phoenix sizzled through its 31st consecutive day of at least 110 degrees Fahrenheit (43.3 Celsius) and other parts of the country grappled Sunday with record temperatures after a week that saw significant portions of the U.S. population subject to extreme heat.
The National Weather Service said Phoenix climbed to a high of 111 F (43.8 Celsius) before the day was through.
July has been so steamy thus far that scientists calculate it will be the hottest month ever recorded and likely the warmest human civilization has seen. The World Meteorological Organization and the European Union’s Copernicus Climate Change Service on Thursday proclaimed July beyond record-smashing.
The historic heat began blasting the lower Southwest U.S. in late June, stretching from Texas across New Mexico and Arizona and into California’s desert.
On Sunday, a massive wildfire burning out of control in California’s Mojave National Preserve spread rapidly amid erratic winds, while firefighters reported progress against another major blaze to the south that prompted evacuations.
The York Fire that erupted Friday near the remote Caruthers Canyon area of the preserve sent up a huge plume of smoke visible nearly 100 miles (160 kilometers) away across the state line in Nevada.
Flames 20 feet (6 meters) high in some spots have charred more than 110 square miles (284 square kilometers) of desert scrub, juniper and Joshua tree woodland, according to a Sunday update.
“The dry fuel acts as a ready ignition source, and when paired with those weather conditions it resulted in long-distance fire run and high flames, leading to extreme fire behavior,” authorities said. No structures were threatened, but there was also no containment.
To the southwest, the Bonny Fire was holding steady at about 3.4 square miles (8.8 square kilometers) in rugged hills of Riverside County. More than 1,300 people were ordered to evacuate their homes Saturday near the remote community of Aguanga, California.
Triple-digit heat was expected in parts of the central San Joaquin Valley through Monday, according to the National Weather Service.
And in Burbank, California, about 10 miles (16 kilometers) north of Los Angeles, the summer heat may have been responsible for some unusual behavior in the animal kingdom: Police in the city responded to a report of a bear sighting in a residential neighborhood and found the animal sitting in a Jacuzzi behind one of the homes.
As climate change brings hotter and longer heat waves, record temperatures across the U.S. have killed dozens of people, and the poorest Americans suffer the most. Air conditioning, once a luxury, is now a matter of survival.
Last year, all 86 heat-related deaths indoors were in uncooled environments.
“To explain it fairly simply: Heat kills,” said Kristie Ebi, a University of Washington professor who researches heat and health. “Once the heat wave starts, mortality starts in about 24 hours.”
It’s the poorest and people of color, from Kansas City to Detroit to New York City and beyond, who are far more likely to face grueling heat without air conditioning, according to a Boston University analysis of 115 U.S. metro areas.
Back in Phoenix, slight relief may be on the way as expected seasonal thunderstorms could drop temperatures Monday and Tuesday.
“It should be around 108 degrees, so we break that 110 streak,” meteorologist Tom Frieders said. “Increasing cloud cover will put temperatures in a downward trend.”
The relief could be short-lived, however. Highs are expected to creep back to 110 F (43.3 C) Wednesday with temperatures reaching 115 F (46.1 C) by the end of the week.
Phoenix has also sweated through a record 16 consecutive nights when the lows temperature didn’t dip below 90 F (32.2 C), making it hard for people to cool off after sunset.
Meanwhile, Las Vegas continues to flirt with its hottest July ever. The city is closing in on its 2010 record for the average of the high and low each day for July, which stands at 96.2 F (35.5 C).
The extreme heat is also hitting the eastern U.S, as soaring temperatures moved from the Midwest into the Northeast and Mid-Atlantic, where some places recorded their warmest days so far this year.
|
https://www.kron4.com/news/national/ap-us-news/ap-july-keeps-sizzling-as-phoenix-hits-another-110-degree-day-and-wildfires-spread-in-california/
| 2023-07-31T20:48:13
| 1
|
https://www.kron4.com/news/national/ap-us-news/ap-july-keeps-sizzling-as-phoenix-hits-another-110-degree-day-and-wildfires-spread-in-california/
|
WASHINGTON (AP) — A poster hanging at the DC Open site shows Frances Tiafoe — a competitor in the field from nearby Maryland — flanked by other men such as Andy Murray and Taylor Fritz and women such as Coco Gauff and Jessica Pegula.
It is a simple visualization of a complicated change to a tournament that began Monday and has been around for men since 1969, added women via a simultaneous but lower-tier and less-promoted event in 2009 and now is taking a further step by touting itself as the first combined ATP-WTA 500 event. That is two levels below Grand Slams and one level below Masters 1000s and was accomplished by elevating the women’s portion through the lease of what had been a hard-court tourney in San Jose, California, played during the same week.
While ostensibly that puts the men and women on equal footing in Washington — where players both will be trying to win a trophy and to prepare for the U.S. Open, the year’s last Grand Slam tournament — it still is not equal all the way around.
Most notably: The men’s champion receives a check for $353,445; the women’s champion earns $120,150. That is not an anomaly. There are other stops on the professional tennis tours that include female and male players but do not pay them evenly.
“Our main goal is to work toward equal prize money. That is what we want on the WTA side and what we think is fair. Especially at the combined events, we don’t want to see a discrepancy there. We want to see that we’re earning the same at the same event,” said Pegula, an American who is No. 3 in the rankings and seeded No. 1 in Washington and a member of the women’s tour’s player council. “The fans are coming to watch both of us, and we should be making the same.”
All four Grand Slam tournaments offer equal prize money across the board, something the U.S. Open started doing 50 years ago and others as recently as 2007. That won’t happen at the DC Open until 2027 as part of a wider plan the WTA recently announced to get equal paychecks at certain events by that year and at others by 2033.
“That will give everyone a chance to hopefully get revenues to grow to be able to afford it,” said Mark Ein, who has been the tournament chairman since 2019 and is part of the group that recently bought the NFL’s Washington Commanders from Dan Snyder.
“When we took over the tournament, one of my top goals was to secure a women’s event at an equal level as our men’s,” Ein said. “One of the things I love about tennis is it’s really the only sport where athletes of both genders compete on the same playing surface at the same time.”
There are other discrepancies between the men’s and women’s brackets in Washington.
The men’s field is 48 players; the women’s is 28. The rankings points available are nearly the same, but the men’s champion gets 500, the women’s 470.
Like Pegula, three-time major champion Murray, who is seeded 15th in Washington, said that all players “at the same event, on the same courts,” should be vying for the same payouts.
“But I think for it ever to become like truly equal, the WTA and the ATP are actually going to have to come together and work as one before that’s the case, because I don’t think it’s that straightforward just now that both tours have different sponsors, different TV deals and all of that stuff, too,” Murray said. “There is a few things that still need to change, but I feel like things are going in the right direction, like with the move to this event becoming a 500 for both. Can obviously still get better.”
___
AP tennis: https://apnews.com/hub/tennis and https://twitter.com/AP_Sports
|
https://fox59.com/sports/ap-sports/ap-washington-tennis-tournament-offers-equal-status-for-women-and-men-but-unequal-prize-money/
| 2023-07-31T20:48:15
| 0
|
https://fox59.com/sports/ap-sports/ap-washington-tennis-tournament-offers-equal-status-for-women-and-men-but-unequal-prize-money/
|