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From a 3D printed vaccine patch to an electric truck, a seawater-powered lamp, and countless other bold innovations, the sixth annual awards honor the products, concepts, companies, policies, and designs that are driving change, tackling issues from climate change to inequality, and so much more.
NEW YORK, May 3, 2022 /PRNewswire/ -- The winners of Fast Company's 2022 World Changing Ideas Awards were announced today, honoring clean technology, innovative corporate initiatives, brave new designs for cities and buildings, and other creative works that are supporting the growth of positive social innovation, tackling social inequality, climate change, and public health crises.
Blueprint is the first-of-its-kind solution to automatically test and recommend adjustments to job qualifications for diversity hiring. This includes real-time insights for managers and HR teams on how years of experience, education, industry requirements, certifications, skills, and location impact the ethnic and gender diversity of a job's prospects. This capability creates an awareness of the weight of every requirement on the ability to hire diverse talents, while simultaneously recommending profiles of people with different experience.
"Over the past decade, our products have learned from over 500 million hiring decisions which taught us how important the job qualifications list is in hindering or unlocking diversity hiring goals," says Athena Karp, the CEO and Founder of HiredScore. "What was missing was a way for companies to instantly see how every requirement impacts their goals and how adjustments to the job post increase inclusivity."
HiredScore's proprietary research shows that over 45% of US-based requisitions can be adjusted to improve inclusion of underrepresented talent for the role, producing a profound and easy way to drive diversity recruiting goals from the start of every process.
Now in its sixth year, the World Changing Ideas Awards showcase 39 winners, 350 finalists, and more than 600 honorable mentions—with climate, social justice, and AI and data among the most popular categories. A panel of eminent Fast Company editors and reporters selected winners and finalists from a pool of more than 2,997 entries across transportation, education, food, politics, technology, health, social justice, and more. In addition, several new categories have been added this year including climate, nature, water, and workplace. The 2022 awards feature entries from across the globe, from Switzerland to Hong Kong to Australia.
Fast Company's Summer 2022 issue (on newsstands May 10, 2022) will showcase some of the world's most inventive entrepreneurs and companies tackling global challenges. The issues highlight, among others, probiotics for coral reefs, easy-to-assemble kit homes for refugees or disaster survivors, a 3D printed vaccine patch, an electric truck, a system to heat homes from the waste heat of a name-brand factory, and prosecutor-initiated resentencing for overly long prison sentences.
"On behalf of HiredScore, we are very proud to be recognized by Fast Company. This recognition supports our view that hiring differently starts with understanding that experience can come in many different forms and to really make a change, we need the tools and insights into how different requirements impact underrepresented groups and ultimately job access. The market's positive reaction to products such as HiredScore's Blueprint give us hope that technology can help us make the shift to rethink how and in what ways people can demonstrate their abilities."
"We are consistently inspired by the novelty and creativity that people are applying to solve some of our society's most pressing problems, from shelter to the climate crisis. Fast Company relishes its role in amplifying important, innovative work to address big challenges," says David Lidsky, interim editor-in-chief of Fast Company. "Our journalists have identified some of the most ingenious initiatives to launch since the start of 2021, which we hope will both have a meaningful impact and lead others to join in being part of the solution."
About the World Changing Ideas Awards: World Changing Ideas is one of Fast Company's major annual awards programs and is focused on social good, seeking to elevate finished products and brave concepts that make the world better. A panel of judges from across sectors choose winners, finalists, and honorable mentions based on feasibility and the potential for impact. With the goals of awarding ingenuity and fostering innovation, Fast Company draws attention to ideas with great potential and helps them expand their reach to inspire more people to start working on solving the problems that affect us all.
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SOURCE HiredScore | https://www.whsv.com/prnewswire/2022/05/03/hiredscores-blueprint-named-honorable-mention-ai-amp-data-category-fast-companys-2022-world-changing-ideas-awards/ | 2022-05-03T12:10:01Z |
ATLANTA, May 3, 2022 /PRNewswire/ -- The Home Depot®, the world's largest home improvement retailer, announced today that it will hold its First Quarter Earnings Conference Call on Tuesday, May 17, at 9 a.m. ET.
A webcast will be available by logging onto http://ir.homedepot.com/events-and-presentations and selecting the First Quarter Earnings Conference Call icon. The webcast will be archived and available beginning at approximately noon on May 17.
The Home Depot is the world's largest home improvement specialty retailer. At the end of fiscal year 2021, the company operated a total of 2,317 retail stores in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs approximately 500,000 associates. The Home Depot's stock is traded on the New York Stock Exchange (NYSE: HD) and is included in the Dow Jones industrial average and Standard & Poor's 500 index. The Home Depot is #18 on the 2021 Fortune 500.
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SOURCE The Home Depot | https://www.whsv.com/prnewswire/2022/05/03/home-depot-host-first-quarter-earnings-conference-call-may-17/ | 2022-05-03T12:10:07Z |
New capabilities help Illumine win the confidence of prospective customers seeking assurances that solar energy projects will pay off in the long term
PLEASANTON, Calif., May 3, 2022 /PRNewswire/ -- ZINFI Technologies, Inc., a company leading the definition and creation of Unified Channel Management (UCM) solutions, today announced Illumine Energy, a top player in the renewable energy market in India and the UAE, has launched its channel marketing automation platform to automate product registration and warranty documentation processes and to boost the confidence of prospective customers. Illumine offers comprehensive products and services for large-scale renewable energy markets, with a special emphasis on solar energy, and is a leading provider in a very competitive regional market.
Illumine's recent adoption of ZINFI software was motivated by the skepticism of many customers in the region around product warranties. Illumine offers a 25-year warranty on solar panels installed for its projects—a key differentiator in a market where product information like serial numbers is often compiled manually and where detailed, quality warranty documents are rare. Illumine began using ZINFI's channel marketing automation platform to automate and customize its workflow for gathering serial numbers, manufacturing information, batch numbers, installation site and date, and other information digitally. The information is now scanned from individual panels at the project site using a mobile device connected to the ZINFI platform. After scanning, Illumine makes the data directly available to customers, and can create detailed and individualized warranties for customers instantly.
Having this capability in an easy-to-use platform like ZINFI's gives Illumine a significant advantage over competitors. "It's really fantastic," says Anwar Babu, Chief Technical Officer at Illumine. "It's easy for any employee to collect the data, and when we are talking about our product warranty with prospects we can log into the platform and show them how other customers are accessing and using the information."
"Illumine Energy is a great example of how organizations of all sizes and in a broad range of industries are implementing ZINFI software to automate processes that are crucial to their own unique sales and marketing motions," said Sugata Sanyal, founder and CEO of ZINFI. "ZINI's platform is modular, flexible and quite easy to use, so our customers can start small with minimal investment and add new capabilities as their business grows and their requirements evolve."
To learn more about how Illumine Energy is using the ZINFI channel marketing automation platform to automate tasks, refine its processes and win the confidence of prospective customers in the renewable energy market in India and the UAE, please click here.
In April 2020, ZINFI was named a leader in The Forrester Wave™: Through-Channel Marketing Automation, Q2 2020 report, receiving the highest possible (5 out of 5) scores in the criteria of "Product innovation roadmap," "Pricing strategy," "Supporting products and services" and "Number of employees." The report states, "…what sets ZINFI apart is its commitment to modularity, which makes it equally appropriate for a small to medium-size business (SMB) that is automating its channel management for the first time or a large global manufacturer that is filling gaps or transforming its channel technology." The report also notes ZINFI's "…strong workflow and collaboration tools that optimize processes among ZINFI's agency partners, partners' enterprise customers, and ZINFI's in-house multilingual (14 languages) partner marketing concierge services for lead, campaign, and MDF management."
Later in 2020, ZINFI was also named a leader in another Forrester report: The Forrester Wave™: Partner Relationship Management Q4 2020 report, where ZINFI received 5 out of 5 (the highest possible) scores in the "Product innovation roadmap" criterion in the "Strategy" category and in the "Partner co-selling and co-marketing" criterion in the "Current offering" category. ZINFI also tied for the highest score among the participants in the "Partner performance and incentives" criterion (4.4 out of 5).
ZINFI offers its potential customers a 30-day free trial (no credit card required) providing access to its entire Unified Channel Marketing (UCM) automation platform. This will allow any prospective buyers to test-drive its industry-leading channel management applications before making a purchase decision.
About Illumine Energy
Established in the year 2012, Illumine is a top player in the development, acquisition and long-term management of large-scale solar projects and smart energy solutions. We operate in both the centralized energy market and the evolving distributed energy market around the India and UAE. We manage the design, engineering, product procurement, documentation, installation and maintenance of power plants. We have one of the largest footprints of clean energy projects in India, including the largest portfolio of installed solar rooftop projects in the country. Our solar power plants currently generate more than 3 megawatts of energy, and we are in the process of constructing plants that will generate an additional 750 kilowatts of energy. Our company is unique in focusing on project sales, providing energy auditing and turnkey solutions, and helping customers make profitable investments. Illumine is continually investing in new technologies and product offerings with a focus on pure solar economics. Learn more at www.illumineenergy.com.
About ZINFI Technologies
ZINFI Technologies, Inc., the leader in Unified Channel Management (UCM) innovation, enables vendors and their channel partners to achieve profitable growth predictably and rapidly on a worldwide level. Headquartered in Silicon Valley, USA and founded by channel veterans with extensive global channel management experience, we at ZINFI see an immense opportunity to build high-performing sales channels by deploying an easy-to-use, comprehensive and innovative state-of-the-art SaaS Unified Channel Management automation platform that streamlines and manages the entire partner lifecycle through three core state-of-the-art SaaS applications—partner relationship management, channel marketing management and channel sales management. In 26 countries, these three core UCM SaaS applications are locally supported by ZINFI's global marketing services team members.
For more information about ZINFI's Unified Channel Management platform, please visit our website at www.zinfi.com. You can also follow ZINFI Technologies on LinkedIn and at the ZINFI Channel Marketing Best Practices blog.
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SOURCE ZINFI Technologies, Inc. | https://www.whsv.com/prnewswire/2022/05/03/illumine-energy-adopts-zinfi-channel-marketing-automation-platform-create-customized-workflow-product-registration-warranty-documentation/ | 2022-05-03T12:10:13Z |
WEST PALM BEACH, Fla., May 3, 2022 /PRNewswire/ -- The Iscoe Law Firm, one of Florida's leading personal injury attorney teams, knows that Lyft and similar ridesharing accidents have changed the way people travel daily.
In cases where Lyft drivers cause accidents, one may be able to pursue compensation from the driver's personal insurance policy, Lyft's insurance policy, or a combination of both. Whether Lyft's insurance covers their drivers depends on what the driver was doing at the time of the crash.
"After a Lyft accident you are likely entitled to compensation under your Personal Injury Protection (PIP) insurance," says Gary T. Iscoe, Esq. Founding Partner of Iscoe Law Firm. "If your injuries and other losses are substantial, however, you can usually seek compensation from the at-fault party's insurance policy."
The Lyft App is Off
If the driver's Lyft app was off during the accident, Lyft's insurance provides no coverage. As a victim, you need to make a claim on the driver's personal auto insurance policy.
The App is On, and the Driver is Waiting for a Ride Request
If the app is on and the driver is waiting for a request, Lyft's insurance provides 3rd party liability coverage to its drivers if the driver's own insurance does not apply. The policy limits for this coverage are $50,000 for bodily injury, up to $100,000 per accident, and $25,000 for property damage per accident.
The App is On, and the Driver is Picking Up Passengers
If an accident occurs while the Lyft driver is picking up passengers or providing a ride, Lyft's insurance provides $1,000,000 in 3rd party liability coverage.
About Iscoe Law
Since 1991, Gary T. Iscoe, a Trial Lawyer, has been dedicated to holding the powerful accountable for taking advantage of the powerless. From representing clients in severe injury cases, wrongful death cases, class actions, and other lawsuits including medical malpractice, and product liability. Gary and his team understand Florida's complex personal injury laws.
Iscoe Law fights hard for the injured and holds auto insurers like State Farm, Allstate, Progressive, GEICO, Liberty Mutual accountable for the pain and suffering, medical expenses, lost wages, and other damages suffered by its clients.
Iscoe Law offers a free initial consultation at one's home, office, hotel, or hospital. For more information or schedule a free consultation, call 800-800-6500 or visit www.iscoelaw.com
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SOURCE Iscoe Law | https://www.whsv.com/prnewswire/2022/05/03/iscoe-law-says-know-your-rights-lyft-accident/ | 2022-05-03T12:10:20Z |
NEW YORK, May 3, 2022 /PRNewswire/ -- iStar Inc. (NYSE: STAR) today reported results for the first quarter ended March 31, 2022.
Highlights for the quarter include:
- Net income of $610.9 million or $8.85 per diluted common share
- Adjusted earnings of $607.5 million or $7.79 per diluted common share
- iStar closed previously announced sale of a portfolio of net lease assets for a gross purchase price of $3.07 billion resulting in approximately $585 million net positive impact to common equity
- Safehold closed $677 million1 of new originations, bringing Safehold's total aggregate portfolio to $5.5 billion
- $1.2 billion consolidated secured debt repaid within the quarter
"We made significant progress on our three part strategic plan during the first quarter, simplifying our business with the closing of our Net Lease portfolio, continuing to help scale Safehold and ground lease-adjacent businesses, and strengthening the balance sheet with the extinguishment of over $1 billion of secured debt," said Jay Sugarman, Chairman and Chief Executive Officer. "We were pleased to see the positive impact on earnings, liquidity and the balance sheet during the quarter and remain focused on continuing to execute on our core strategies."
The Company published a presentation detailing its results and a reconciliation of non-GAAP financial metrics, which can be found on its website, in the "Investors" section.
The Company will host an earnings conference call reviewing this presentation beginning at 10:00 a.m. ET. This conference call will be broadcast live and can be accessed by all interested parties through iStar's website and by using the dial-in information listed below:
A replay of the call will be archived on the Company's website. Alternatively, the replay can be accessed via dial-in from 2:30 p.m. ET on May 3, 2022 through 12:00 a.m. ET on May 17, 2022 by calling:
iStar Inc. (NYSE: STAR) is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on institutional quality properties. As the founder, investment manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the creator of the modern ground lease industry, iStar is using its national investment platform and its historic strengths in finance and net lease to expand the use of modern ground leases within the $7 trillion institutional commercial real estate market. Recognized as a consistent innovator in the real estate markets, iStar specializes in identifying and scaling newly discovered opportunities and has completed more than $40 billion of transactions over the past two decades. Additional information on iStar is available on its website at www.istar.com.
1 Investments in Q1 '22 include $158m of new forward commitments that have not yet been funded. Such funding commitments are subject to certain conditions. There can be no assurance that Safehold will complete these transactions.
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SOURCE iStar Inc. | https://www.whsv.com/prnewswire/2022/05/03/istar-reports-first-quarter-2022-results/ | 2022-05-03T12:10:27Z |
Conference Call Scheduled at 10am ET
AZOUR, Israel , May 3, 2022 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN), announced that it will be releasing its first quarter 2022 results on Tuesday, May 24, 2022.
The Company will be hosting a conference call later that day at 10am Eastern Time. On the call, management will review and discuss the results, and will be available to answer investor questions.
To participate, call one of the following teleconferencing numbers. Please begin placing your calls a few minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.
US Dial-in Number: 1 866 860 9642
ISRAEL Dial-in Number: 03 918 0609
INTERNATIONAL Dial-in Number: +972 3 918 0609
at:
10:00am Eastern Time, 7:00am Pacific Time, 5:00pm Israel Time
For those unable to listen to the live call, a replay of the call will be available from the day after the call in the investor relations section of Ituran's website.
About Ituran
Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. Ituran offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management & control services for vehicles, cargo and personal security for the retail, insurance industry and car manufacturers. Ituran is the largest OEM telematics provider in Latin America. Its products and applications are used by customers in over 20 countries. Ituran is also the founder of the Tel-Aviv based DRIVE startup incubator to promote the development of smart mobility technology.
Ituran's subscriber base has been growing significantly since the Company's inception to approaching 2 million subscribers using its location-based services with a market leading position in Israel and Latin America. Established in 1995, Ituran has approximately 3,000 employees worldwide, with offices in Israel, Brazil, Argentina, Mexico, Ecuador, Columbia, India, Canada and the United States.
For more information, please visit Ituran's website, at: www.ituran.com
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SOURCE Ituran Location and Control Ltd. | https://www.whsv.com/prnewswire/2022/05/03/ituran-location-control-ltd-schedules-first-quarter-2022-results-release-conference-call-tuesday-may-24-2022/ | 2022-05-03T12:10:34Z |
JACKSON, Miss. , May 3, 2022 /PRNewswire/ -- Proud family, tearful friends, and optimistic graduates gathered for the sacred celebrations of Jackson State University's Spring 2022 Commencement Ceremonies on April 29th and 30th. During the two days of celebration, President Thomas K. Hudson, J.D., saluted the 414 graduate students and 641 undergraduate students as they crossed their respective stages to culminate their educational journey from students to alumni.
"Today is all about you. I encourage you to enjoy this milestone you've achieved, for it is a tremendous accomplishment in your life and a major step in elevating your career path," said Hudson. "As you prepare to leave your Dear Old College Home, may you leave with confidence knowing that you have been well prepared at a highly esteemed institution and that you are now equipped to change the world."
TIAA President and CEO Thasunda Brown Duckett served as the keynote speaker for the graduate ceremony. She shared several life lessons with the graduating class, advising them always to remain intellectually curious.
"It is important to understand and recognize that within your career when you take your shot, there will be highs, and yes, there will be lows. Even then, ask the question, 'what's the lesson here?'" urged Brown Duckett. "Ask it even when it's painful. Be thankful for those learnings. Those tough times that will set you up for something great."
She also encouraged the graduates to seek out mentorships, which can come from people of various backgrounds and professions. She warned them not to limit their scopes to CEOs or fancy titles because a mentor could be anyone of great character.
"When I interned in the halls of Corporate America, it was the secretaries, the janitors, and the cooks that exposed my melanin and my gender to Corporate America, and here I stand making history. So make sure you see everyone," said Brown Duckett, who is the third Black woman to be named CEO of a Fortune 500 company.
Lastly, Brown Duckett encouraged the graduates to take advantage of every opportunity to close the wealth gap for their own families by paying themselves first. After accomplishing her own higher educational goals, she recalled having a heartbreaking conversation with her father to let him know that he had never contributed to his company's 401K plan. He was not ready for retirement, but with her guidance he made the necessary changes to begin making up for lost time.
"We all have to start talking about savings. Because yes, our country is facing a crisis when 83 percent of Black Americans do not have enough to retire. So how will we close the economic gap when the daughter and the son have to take care of mom and dad, to take care of daughter and son and still have to take care of themselves? We need to close the wealth gap for people of color," said Brown Duckett. "Historically black colleges and universities have long been economic engines and generators of black wealth so yes, it is our collective responsibility to do our part to break the cycle. We must right this economic injustice. If we don't, another generation of children will have to carry that burden. So yes, we can and we will do better."
On Saturday, Under Secretary of Agriculture for Natural Resources and the Environment Homer Wilkes, Ph.D., addressed Jackson State University's undergraduate students. The proud alumnus received his bachelor's degree, master of business administration, and Ph.D. in urban higher education from JSU.
"I am delighted to be back here in Jackson, Mississippi. More importantly, I am humbled and honored to be able to come back to Jackson State University. Thee I love," said Wilkes, who is the first African American to serve in his current role. "JSU not only gives you a good education but an education that does good."
Wilkes centered his address on the fundamental principles of life that guided him through his JSU tenure and into his current position as Under Secretary. He reflected on his humble beginnings growing up in rural Mississippi, instilling in him the principle of being a "good steward of the land."
He then gave the graduating class their first call to action by challenging them to take what they've gained at JSU and move forward throughout the world boldly, reaching and teaching in every space and life they encounter.
Lastly, the Under Secretary left the Class of 2022 with three salient points to carry throughout their lifelong journey of personal, professional, and spiritual development:
No. 1: Self Awareness – always strive to know thyself, both internal and external.
No. 2: Create a path and define their purpose.
No. 3: Stay in touch with one's spirituality. To be rooted in one's faith shall be what sustains them throughout life. As the world presents unexpected shifts and turns, they must remain intentional about the quality of their mental and physical health.
One by one, the excited graduates lined up to walk across the stage with a smile, a wave, and sometimes, a dance step, signifying the closing of one pivotal chapter of their lives.
"My overall JSU experience has been nothing short of amazing. I have gotten everything I asked for and then some," said Halle Coleman, the 82nd Miss Jackson State University. "A big staple in my JSU experience has been the culture – the warm family atmosphere has truly made me feel at home."
Prior to commencement, Coleman jump-started her career as a multimedia professional by accepting a public relations specialist position for the Jackson-based and minority-owned marketing agency, Fahrenheit Creative Group.
"I have gained tangible and intangible skills from the campus that will help me in my new role. My department, the Blue and White Flash [student newspaper], and my internship with University Communications prepared me for writing, editing and storytelling," said Coleman. "I am grateful to have gotten that hands-on experience from JSU prior to entering the workforce."
About Jackson State University: Challenging Minds, Changing Lives
Jackson State University, founded in 1877, is a historically black, high research activity university located in Jackson, the capital city of Mississippi. Jackson State's nurturing academic environment challenges individuals to change lives through teaching, research and service. Officially designated as Mississippi's Urban University, Jackson State continues to enhance the state, nation and world through comprehensive economic development, healthcare, technological and educational initiatives. The only public university in the Jackson metropolitan area, Jackson State is located near downtown, with five satellite locations throughout the area. For more information, visit www.jsums.edu.
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SOURCE Jackson State University | https://www.whsv.com/prnewswire/2022/05/03/jackson-state-university-awards-more-than-1000-degrees-during-spring-2022-commencement-celebration/ | 2022-05-03T12:10:41Z |
DALLAS, May 3, 2022 /PRNewswire/ -- Jacobs Engineering Group Inc. (NYSE: J) today announced its financial results for the fiscal second quarter ended April 1, 2022.
Q2 2022 Highlights:
Revenue of $3.8 billion up 8.1% year-over-year and net revenue increased 10.1% year-over-year
Backlog increased $2.2 billion to $27.8 billion, up 8.7% year-over-year
EPS from continuing operations of $0.68, primarily reflecting a charge of $0.63 for the final settlement of the Legacy CH2M Matter and associated legal fees incurred during the quarter
Adjusted EPS from continuing operations of $1.72, up 4% year-over-year
Cash flow from operations of $125 million; on track to achieve FY22 adjusted cash conversion target, excluding the Legacy CH2M Matter settlement outflow
Updates fiscal 2022 adjusted EBITDA and adjusted EPS outlook, with mid-point of range unchanged1
Jacobs' Chair and CEO Steve Demetriou commented, "We are seeing accelerating demand across all end markets, with incremental opportunities to scale in the areas of Climate Response, Consulting & Advisory and Data Solutions. These compelling opportunities are reflected in our results with strong bookings performance during the first half of the fiscal year and 9% backlog growth in the second quarter, which positions us well for the remainder of fiscal 2022." Demetriou continued, "Executing on our new strategy begins with our people, by unleashing a culture that combines inclusion, innovation and inspiration to enable the delivery of cutting-edge solutions for our clients."
Jacobs' President and CFO Kevin Berryman added, "This quarter we delivered year-over-year revenue growth across all lines of business and witnessed another double-digit organic growth quarter for PA Consulting. We expect further strong performance in the second half of the fiscal year with cash flow from operations on track to achieve our adjusted cash flow conversion to adjusted net income expectations. Given our strong growth expectations for the business, to date we have repurchased $135 million of shares since the beginning of March."
In the quarter Jacobs launched their updated Climate Action Plan to align their net zero commitments with the new, international standard, and were recognized as one of the world's first companies to have validated net zero targets approved by the Science Based Targets Initiative.
Financial Outlook1
The company now expects fiscal 2022 adjusted EBITDA of $1,385 million to $1,435 from $1,370 million to $1,450 million and adjusted EPS of $6.95 to $7.35 from $6.85 to $7.45.
Jacobs is aligned to multiple secular growth drivers across ESG, Infrastructure & Supply Chain Modernization, Data Solutions, and National Security, which positions the company to achieve their three-year financial targets communicated during the recent strategy launch.
Second Quarter Review
The Company's adjusted net earnings from continuing operations and adjusted EPS from continuing operations for the second quarter of fiscal 2022 and fiscal 2021 exclude the adjustments set forth in the table below. For additional information regarding these adjustments and a reconciliation of adjusted net earnings and adjusted EPS to net earnings and EPS, respectively, as well as a reconciliation of net revenue to revenue, refer to the section entitled "Non-GAAP Financial Measures" at the end of this release.
The Company's U.S. GAAP effective tax rate for continuing operations is 29.7% for the fiscal second quarter 2022 and fiscal second quarter 2022 adjusted earnings per share from continuing operations reflects an estimated full year 21.7% adjusted effective tax rate.
Jacobs is hosting a conference call at 10:00 A.M. ET on Tuesday May 3, 2022, which it is webcasting live at www.jacobs.com.
About Jacobs At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With $14 billion in annual revenue and a talent force of approximately 55,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sectors. Visit jacobs.com and connect with Jacobs on LinkedIn, Twitter, Facebook and Instagram.
Forward-Looking Statements Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this press release that are not based on historical fact are forward-looking statements. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding our expectations as to our future growth, prospects, financial outlook and business strategy for fiscal 2022 or future fiscal years, including our expectations for our fiscal 2022 adjusted EBITDA, adjusted EPS and adjusted cash conversion. Although such statements are based on management's current estimates and/or expectations, and currently available competitive, financial, and economic data, forward-looking statements are inherently uncertain, and you should not place undue reliance on such statements as actual results may differ materially. We caution the reader that there are a variety of risks, uncertainties and other factors that could cause actual results to differ materially from what is contained, projected or implied by our forward-looking statements. Such factors include our ability to execute on our newly-announced three-year corporate strategy, including our ability to invest in the tools needed to fully implement our strategy, competition from existing and future competitors in our target markets, our ability to achieve the cost-savings and synergies contemplated by our recent acquisitions within the expected time frames and to successfully integrate acquired businesses while retaining key personnel, the impact of the COVID-19 pandemic, including the emergence and spread of variants of COVID-19, and any resulting economic downturn on our results, prospects and opportunities, measures or restrictions imposed by governments and health officials in response to the pandemic, the timing of the award of projects and funding under the Infrastructure Investment and Jobs Act as well as general economic conditions, including inflation, changes in interest rates, foreign currency exchange rates, changes in capital markets, and geopolitical events and conflicts, among others. The impact of such matters includes, but is not limited to, the possible reduction in demand for certain of our product solutions and services and the delay or abandonment of ongoing or anticipated projects due to the financial condition of our clients and suppliers or to governmental budget constraints or changes to governmental budgetary priorities; the inability of our clients to meet their payment obligations in a timely manner or at all; potential issues and risks related to a significant portion of our employees working remotely; illness, travel restrictions and other workforce disruptions that have and could continue to negatively affect our supply chain and our ability to timely and satisfactorily complete our clients' projects; difficulties associated with retaining key employees or hiring additional employees; and the inability of governments in certain of the countries in which we operate to effectively mitigate the financial or other impacts of the COVID-19 pandemic on their economies and workforces and our operations therein. The foregoing factors and potential future developments are inherently uncertain, unpredictable and, in many cases, beyond our control. For a description of these and additional factors that may occur that could cause actual results to differ from our forward-looking statements, see the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations in our most recently filed Annual Report on Form 10-K, and the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, in our most recently filed Quarterly Report on Form 10-Q, as well as the Company's other filings with the Securities and Exchange Commission. The Company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
Financial Highlights:
Non-GAAP Financial Measures:
In this press release, the Company has included certain non-GAAP financial measures as defined in Regulation G promulgated under the Securities Exchange Act of 1934, as amended. The non-GAAP financial measures included in this press release are net revenue, adjusted net earnings, adjusted EPS from continuing operations, adjusted EBITDA outlook, adjusted EPS outlook and adjusted effective tax rate.
Net revenue is calculated excluding pass-through revenue of the Company's People & Places Solutions segment from the Company's revenue from continuing operations. Adjusted net earnings from continuing operations and adjusted EPS from continuing operations are calculated by (i) excluding costs and other charges associated with restructuring activities implemented in connection with the acquisitions of CH2M, John Wood Group nuclear business, BlackLynx, Buffalo Group and StreetLight, the strategic investment in PA Consulting, the sale of the ECR business and other related cost reduction initiatives, which included involuntary terminations, costs associated with co-locating offices of acquired companies, separating physical locations of ECR and continuing operations, professional services and personnel costs, expenses relating to certain commitments and contingencies relating to discontinued operations of the CH2M business including the final settlement charges relating to the Legacy CH2M Matter, net of previously recorded reserves; (ii) excluding the costs and other charges associated with our Focus 2023 transformation initiatives, which included costs and charges associated with the re-scaling and repurposing of physical office space, voluntary employee separations, contractual termination fees and related expenses (the amounts referred in (i) and (ii) are collectively referred to as the "Restructuring and other charges"); (iii) excluding transaction costs and other charges incurred in connection with closing of Buffalo Group, BlackLynx and StreetLight acquisitions and the strategic investment in PA Consulting, including advisor fees, change in control payments and the impact of the quarterly adjustment to the estimated future payout of contingent consideration to the sellers in connection with acquisitions; certain consideration amounts for PA Consulting that were required to be treated as post-completion compensation expense given retention related requirements applicable to the distribution of such funds to PA Consulting employees, and impacts resulting from the non-cash purchase accounting adjustment related to the investment in PA Consulting to reflect a change in the preliminary purchase price allocation for the redeemable non-controlling interests; certain equity based compensation expenses associated with PA Consulting's benefit programs; and similar transaction costs and expenses (collectively referred to as "transaction costs"); (iv) adding back amortization of intangible assets; (v) the removal of fair value adjustments and dividend income related to the Company's investments in Worley and C3 stock and certain foreign currency revaluations relating to ECR sale proceeds; (vi) excluding charges resulting from the revaluation of certain deferred tax assets/liabilities in connection tax rate increases in the United Kingdom during fiscal 2021; (vii) charges associated with the impairment of our investment in our AWE ML investment; (viii) charges to interest expense associated with one-time deal related bank fees; (ix) certain non-routine income tax adjustments for the purposes of calculating the Company's annual non-GAAP effective tax rate to facilitate a more meaningful evaluation of the Company's current operating performance and comparisons to the Company's operating performance in other periods; and (x) other income tax adjustments associated with the pre-tax income adjustments above. Adjustments to derive adjusted net earnings from continuing operations and adjusted EPS from continuing operations are calculated on an after-tax basis.
Adjusted EBITDA is calculated by adding income tax expense, depreciation expense and adjusted interest expense, and deducting interest income from adjusted net earnings from continuing operations.
We believe that the measures listed above are useful to management, investors and other users of our financial information in evaluating the Company's operating results and understanding the Company's operating trends by excluding or adding back the effects of the items described above and below, the inclusion or exclusion of which can obscure underlying trends. Additionally, management uses such measures in its own evaluation of the Company's performance, particularly when comparing performance to past periods, and believes these measures are useful for investors because they facilitate a comparison of our financial results from period to period.
The Company provides non-GAAP measures to supplement U.S. GAAP measures, as they provide additional insight into the Company's financial results. However, non-GAAP measures have limitations as analytical tools and should not be considered in isolation and are not in accordance with, or a substitute for, U.S. GAAP measures. In addition, other companies may define non-GAAP measures differently, which limits the ability of investors to compare non-GAAP measures of the Company to those used by our peer companies.
The following tables reconcile the components and values of U.S. GAAP net earnings and EPS from continuing operations to the corresponding "adjusted" amount, revenue from continuing operations to net revenue. For the comparable periods presented below, such adjustments consist of amounts incurred in connection with the items described above. Amounts are shown in thousands, except for per-share data (note: earnings per share amounts may not add across due to rounding). Reconciliation of the adjusted EPS and adjusted EBITDA outlook for fiscal 2022 and beyond and fiscal 2022 net revenue growth to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict with sufficient certainty all the components required to provide such reconciliation. See footnote 1 on page 3 for additional information.
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.whsv.com/prnewswire/2022/05/03/jacobs-reports-fiscal-second-quarter-2022-earnings/ | 2022-05-03T12:10:48Z |
SOUTHFIELD, Mich., May 3, 2022 /PRNewswire/ -- Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today reported results for the first quarter 2022.
First Quarter 2022 Highlights
- Sales outperformed global industry production by 4 percentage points reflecting growth over market in both Seating and E-Systems
- Sales decreased 3% to $5.2 billion, compared to $5.4 billion in the first quarter of 2021
- Net income of $49 million and adjusted net income of $108 million, compared to $204 million and $226 million, respectively, in the first quarter of 2021
- Core operating earnings of $184 million, compared to $336 million in the first quarter of 2021
- Earnings per share of $0.82 and adjusted earnings per share of $1.80, compared to $3.36 and $3.73, respectively, in the first quarter of 2021
- Net cash provided by operating activities of $221 million and free cash flow of $90 million, compared to $248 million and $135 million, respectively, in the first quarter of 2021
- Completed Kongsberg Interior Comfort acquisition which will expand product offerings in the growing thermal comfort solutions market
- Total business wins of more than $1.2 billion in both business segments including another significant conquest award in Seating and a major new electrification award in connection systems
- Recognized as a GM Supplier of the Year for the 5th consecutive year and for the 21st time overall
- Named one of FORTUNE's "World's Most Admired Companies" for the 6th consecutive year
- Cash and cash equivalents at quarter end of $1.2 billion and total available liquidity of $3.2 billion
"Despite industry challenges and lower global industry volumes in the first quarter, Lear delivered better financial performance sequentially in both Seating and E-Systems," said Ray Scott, Lear's President and Chief Executive Officer. "During the quarter, we completed the Kongsberg acquisition, which will further separate Lear from its competition as the only seating supplier with in-house thermal comfort solutions. Our leadership position in operational excellence, quality and innovation continues to drive business wins in Seating, Electrical Distribution and Electronics. In a challenging environment, we are proactively adjusting our cost structure to align with production volumes while continuing to invest in our core businesses to deliver profitable growth, strong cash flow and significant shareholder returns as the industry recovers."
In the first quarter, global vehicle production decreased by 4% compared to a year ago, with Europe down 18%, North America down 2% and China up 8%. Global production decreased on a Lear sales-weighted basis(2) by approximately 7%.
Sales in the first quarter decreased 3% to $5.2 billion compared to a year ago. Excluding the impact of foreign exchange, commodities and acquisitions, sales were down 3%, reflecting decreased production on key Lear platforms, partially offset by the addition of new business in both business segments. Sales growth over market in the first quarter was four percentage points, driven primarily by the impact of new business in both segments.
Core operating earnings were $184 million, or 3.5% of sales, compared to $336 million, or 6.3% of sales, in 2021. The decrease in earnings resulted primarily from lower sales due to reduced production on key Lear platforms and higher commodity costs, which were partially offset by the addition of new business. Excluding the impact of higher commodity costs, the Company generated positive operating performance in both Seating and E-Systems. In the Seating segment, margins and adjusted margins were 5.1% and 5.6% of sales, respectively. In the E-Systems segment, margins and adjusted margins were 1.2% and 3.2% of sales, respectively.
Earnings per share were $0.82. Adjusted earnings per share were $1.80, down from $3.73 in 2021, primarily reflecting lower operating earnings.
In the first quarter of 2022, net cash provided by operating activities was $221 million, and free cash flow(1) was $90 million.
(1) For more information regarding our non-GAAP financial measures, see "Non-GAAP Financial Information" below.
(2) The production change on a Lear sales-weighted basis is calculated using Lear's prior year regional sales mix and first quarter fiscal calendar. Management believes this provides a more meaningful comparison of the Company's global revenue growth relative to global vehicle production.
2022 Financial Outlook
Below is our updated 2022 financial outlook, which reflects industry disruptions related to the Ukraine war and COVID-19 in China, persistent semiconductor and component shortages, and rising commodity costs. At the midpoint of our guidance range, we have assumed that 2022 global industry production will be 3% higher than 2021, as compared to our prior guidance which reflected a 6% increase in 2022 global industry production over 2021.
Our 2022 financial outlook is summarized below:
The industry volume assumptions underlying Lear's 2022 financial outlook are derived from several sources, including internal estimates, customer production schedules, and the most recent S&P Global Mobility production estimates for Lear's vehicle platforms.
The financial outlook is based on a full year average exchange rate of $1.09/Euro and 6.45 RMB/$.
Certain of the forward-looking financial measures above are provided on a non-GAAP basis. The Company does not provide a reconciliation of such forward-looking measures to the most directly comparable financial measures calculated and presented in accordance with GAAP because to do so would be potentially misleading and not practical given the difficulty of projecting event-driven transactional and other non-core operating items in any future period. The magnitude of these items, however, may be significant.
First Quarter 2022 Conference Call and Webcast Information
A conference call and webcast will be held to discuss Lear's first quarter 2022 financial results and related matters on May 3, 2022, at 8:30 a.m. EDT. The webcast link for the conference call will be available through Lear's investor relations webpage at ir.lear.com. In addition, the conference call can be accessed by dialing 1-877-883-0383 (domestic) or 1-412-902-6506 (international) with Conference I.D. 6997631. The webcast replay will be available two hours following the call.
Non-GAAP Financial Information
In addition to the results reported in accordance with accounting principles generally accepted in the United States (GAAP) included throughout this press release, the Company has provided information regarding "pretax income before equity income, interest, other expense, restructuring costs and other special items" (core operating earnings or adjusted segment earnings), "pretax income before equity income, interest, other expense, depreciation expense, amortization of intangible assets, restructuring costs and other special items" (adjusted EBITDA), "adjusted net income attributable to Lear" (adjusted net income), "adjusted diluted net income per share attributable to Lear" (adjusted earnings per share) and "free cash flow" (each, a non-GAAP financial measure). Other expense includes, among other things, non-income related taxes, foreign exchange gains and losses, gains and losses related to certain derivative instruments and hedging activities, gains and losses on the disposal of fixed assets and the non-service cost components of net periodic benefit cost. Adjusted net income and adjusted earnings per share represent net income attributable to Lear and diluted net income per share attributable to Lear, respectively, adjusted for restructuring costs and other special items, including the tax effect thereon. Free cash flow represents net cash provided by operating activities less capital expenditures.
Management believes the non-GAAP financial measures used in this press release are useful to both management and investors in their analysis of the Company's financial position and results of operations. In particular, management believes that core operating earnings, adjusted EBITDA, adjusted net income and adjusted earnings per share are useful measures in assessing the Company's financial performance by excluding certain items that are not indicative of the Company's core operating performance or that may obscure trends useful in evaluating the Company's continuing operating activities. Management also believes that these measures provide improved comparability between fiscal periods. Management believes that free cash flow is useful to both management and investors in their analysis of the Company's ability to service and repay its debt. Further, management uses these non-GAAP financial measures for planning and forecasting future periods.
Core operating earnings, adjusted EBITDA, adjusted net income, adjusted earnings per share and free cash flow should not be considered in isolation or as a substitute for net income attributable to Lear, diluted net income per share attributable to Lear, cash provided by operating activities or other income statement or cash flow statement data prepared in accordance with GAAP or as a measure of profitability or liquidity. In addition, the calculation of free cash flow does not reflect cash used to service debt and, therefore, does not reflect funds available for investment or other discretionary uses. Also, these non-GAAP financial measures, as determined and presented by the Company, may not be comparable to related or similarly titled measures reported by other companies.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding anticipated financial results and liquidity. The words "will," "may," "designed to," "outlook," "believes," "should," "anticipates," "plans," "expects," "intends," "estimates," "forecasts" and similar expressions identify certain of these forward-looking statements. The Company also may provide forward-looking statements in oral statements or other written materials released to the public. All statements contained or incorporated in this press release or in any other public statements that address operating performance, events or developments that the Company expects or anticipates may occur in the future are forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and its other Securities and Exchange Commission filings. Future operating results will be based on various factors, including actual industry production volumes, the impact of the ongoing COVID-19 pandemic and the Ukraine war on the Company's business and the global economy, supply chain disruptions, commodity prices, the impact of restructuring actions and the Company's success in implementing its operating strategy.
Information in this press release relies on assumptions in the Company's sales backlog. The Company's sales backlog reflects anticipated net sales from formally awarded new programs less lost and discontinued programs. The Company enters into contracts with its customers to provide production parts generally at the beginning of a vehicle's life cycle. Typically, these contracts do not provide for a specified quantity of production, and many of these contracts may be terminated by the Company's customers at any time. Therefore, these contracts do not represent firm orders. Further, the calculation of the sales backlog does not reflect customer price reductions on existing or newly awarded programs. The sales backlog may be impacted by various assumptions embedded in the calculation, including vehicle production levels on new programs, foreign exchange rates and the timing of major program launches.
The forward-looking statements in this press release are made as of the date hereof, and the Company does not assume any obligation to update, amend or clarify them to reflect events, new information or circumstances occurring after the date hereof.
About Lear Corporation
Lear, a global automotive technology leader in Seating and E-Systems, enables superior in-vehicle experiences for consumers around the world. Lear's diverse team of talented employees in 38 countries is driven by a commitment to innovation, operational excellence, and sustainability. Lear is Making every drive better™ by providing the technology for safer, smarter, and more comfortable journeys. Lear, headquartered in Southfield, Michigan, serves every major automaker in the world and ranks 179 on the Fortune 500. Further information about Lear is available at lear.com or on Twitter @LearCorporation.
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New Blended Behavioral Biometrics Solution Will Offer More Defense Layers and Further Establish Identity Trust for Customers without Adding Friction
ATLANTA, May 3, 2022 /PRNewswire/ -- LexisNexis® Risk Solutions, part of RELX, has announced the acquisition of BehavioSec®, an advanced behavioral biometrics technology provider. Founded in Sweden in 2008 with a presence in the U.S., Canada and EMEA, BehavioSec provides a highly predictive behavioral biometrics solution that uses behavior analysis for continuous authentication to establish identity trust and help prevent fraud. Solutions from BehavioSec will become a part of the Business Services group within LexisNexis Risk Solutions and enhance its device and digital identity-focused offerings, such as LexisNexis® ThreatMetrix®.
"BehavioSec represents a great addition to an already strong digital identity detection and authentication capability set for LexisNexis Risk Solutions," says Julie Conroy, head of risk insights at Aite-Novarica Group. "Behavioral biometrics are an important component of the digital channel control framework, helping with both detection and authentication in a passive manner."
Behavioral biometrics is becoming a widely adopted tool by industries such as financial services, ecommerce, technology, insurance, health care, communications, mobile and media companies and government agencies to prevent new account opening fraud, account takeover and scams, amongst other use cases. These organizations seek a passive means to establish trust while identifying fraud and detecting bots or malware, typical fraudster use patterns and changes in legitimate individual usage patterns to stop fraud before it enters their environments. They want to achieve this simultaneously while ensuring a positive experience at every consumer touchpoint.
BehavioSec brings the ability to convert complex mobile signals from touchscreen and sensors into rules and advanced mobile behavioral biometric-based authentication capabilities, complementing the browser-based solutions within ThreatMetrix®. By integrating offerings from BehavioSec into ThreatMetrix, customers will also benefit from continuous authentication, advanced machine learning capabilities and additional behavioral data for enhanced authentication processes.
Rick Trainor, Business Services CEO, said, "Behavioral biometrics is a valuable component in fraud prevention strategies that layer defenses to tighten the net that stops fraudsters. Founded 14 years ago by a team of highly accomplished visionaries, BehavioSec is a forerunner in the behavioral biometrics segment and continues to evolve and innovate ahead of any other behavioral biometric solution available today. Our combined customer base will benefit significantly from a blended behavioral biometrics solution within ThreatMetrix that offers more defense for customers without adding friction across the consumer journey."
Dr. Neil Costigan, CEO of BehavioSec, added, "I am looking forward to discovering the next phase in the evolution for behavioral biometrics alongside a successful, innovative company looking to further evolve our advanced capabilities."
The new fraud prevention tool will allow access to behavioral biometric solutions by larger organizations when combined with ThreatMetrix®, while serving small to mid-sized organizations seeking a stand-alone behavioral biometrics offering.
DBO Partners served as the exclusive financial advisor to BehavioSec.
About BehavioSec
BehavioSec is an industry pioneer and advanced technology provider of behavioral biometrics and continuous authentication, safeguarding millions of users and billions of transactions today. Deployed across Fortune 500 companies to dramatically reduce fraud, friction, threat and theft, BehavioSec verifies and protects human digital identities by understanding how we uniquely type and swipe across our ever-changing devices. Whether used in the cloud or on-premises, BehavioSec delivers the superior user experience, precision and scale needed by organizations to keep customers engaged while catching evasive, real-time attacks other solutions miss.
About LexisNexis Risk Solutions
LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit www.risk.lexisnexis.com and www.relx.com.
About RELX
RELX is a global provider of information-based analytics and decision tools for professional and business customers. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 33,000 people over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York stock exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX. The market capitalization is approximately £46.2bn/€55bn/$57.9bn.
Media Contact:
Marcy Theobald
678.232.0948
marcy.theobald@lexisnexisrisk.com
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First Quarter 2022 Highlights:
- Operated nine of ten owned and operated ships providing expeditions across Antarctica, Baja California's Sea of Cortez, Bahamas, Belize, Costa Rica and Panama, and the Galápagos
- Strong reservations for future travel with bookings for the second half of 2022 50% ahead of bookings for the second half of 2019 and bookings for 2023 32% ahead of bookings for 2020 at the same point in 2019
- Further increased financial flexibility with refinancing of existing term loan and revolving credit facilities through issuance of new senior secured notes
- Solidified operating rights in the Galapagos Islands with extension of existing cupos for an additional 20-year period
NEW YORK, May 3, 2022 /PRNewswire/ -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the "Company" or "Lindblad"), a global provider of expedition cruises and adventure travel experiences, today reported financial results for the first quarter ended March 31, 2022.
Dolf Berle, Chief Executive Officer, said "Lindblad is well on its way to returning to full operations, having already provided unforgettable experiences to our guests across nine of our ten owned ships in some of the world's most amazing geographies. As our guests return with us to destinations we have been operating in for decades, the desire to get out and explore has never been more evident from both returning guests, and new travelers who are searching for unique and authentic experiences after being limited in that opportunity over the last several years. There will continue to be some short-term headwinds as we emerge from the pandemic and as we reschedule several upcoming itineraries due to the Russia-Ukraine conflict. However, with guest demand accelerating and expanded earnings power from a growing fleet that includes our two new polar ships, already receiving rave reviews from our guests, and a diverse product portfolio that has expanded our addressable market, we are very well situated to deliver results well ahead of pre-pandemic levels in the years ahead."
Lindblad continued to ramp its operations during the first quarter of 2022, providing expeditions to guests on nine of its ten owned vessels including trips to Antarctica, Baja California's Sea of Cortez, Bahamas, Belize, Costa Rica and Panama, and the Galápagos. Due to the spread of the COVID-19 virus and the effects of travel restrictions around the world, the Company had previously suspended or rescheduled the majority of its expeditions departing between March 16, 2020 through May 31, 2021. Travel restrictions related to COVID-19 have diminished dramatically, and the Company continues to work with local authorities on plans to operate itineraries in additional geographies during 2022 and 2023. Where travel restrictions remain, which now also includes a limited number of itineraries impacted by the Russia-Ukraine conflict, the Company is working with guests to reschedule travel plans and refund payments or issue future travel certificates, as appropriate.
The Company believes there are a variety of strategic advantages that enable it to deploy its ships safely and quickly, while mitigating the risk of COVID-19 as travel restrictions are lifted. The most notable is the size of its owned and operated vessels which range from 48 to 148 passengers, allowing for a highly controlled environment that includes stringent cleaning protocols. The small nature of the Company's ships also allows it to efficiently and effectively test its guests and crew prior to boarding, or as otherwise needed. Additionally, all guests are required to be fully vaccinated. and the majority of expeditions take place in remote locations where human interactions are limited, so there is less opportunity for external influence.
The Company has substantial advance reservations for future travel despite some continued short-term impact from the COVID-19 virus, including elevated cancellations and softness in near-term demand, as well as itinerary changes on a few upcoming voyages due to the Russia-Ukraine conflict. Bookings for the second half of 2022 are 50% ahead of the bookings for the second half of 2019, and bookings for 2023 are 32% ahead of the bookings for the full year 2020 at the same point in 2019, which was prior to the pandemic.
On February 4, 2022, the Company issued $360.0 million of 6.75% senior secured notes, maturing 2027 and entered into a new $45.0 million revolving credit facility, including a letter of credit sub-facility in an aggregate principal amount of up to $5.0 million. Proceeds from the senior secured notes were used primarily to pay the outstanding borrowings under the Company's previously existing credit agreement, including the term facility, Main Street Loan and revolving credit facility. The senior secured notes are guaranteed on a senior secured basis by the Company and certain of the Company's subsidiaries and are collateralized by certain of the Company's assets.
As of March 31, 2022, the Company had $154.8 million in unrestricted cash and $30.0 million in restricted cash primarily related to deposits on future travel originating from U.S. ports and credit card reserves. As of March 31, 2022, the Company had a total debt position of $584.1 million and was in compliance with all of its debt covenants.
As the Company continues to ramp up operations, its monthly cash usage will increase as the Company incurs costs in operating expeditions, prepares additional ships for return to service and spends to advertise upcoming expeditions and trips. The Company also anticipates a significant increase in guest payments as it receives final payments for upcoming expeditions and trips as well as deposits for new reservations for future travel. However, there can be no assurance that cash flows from operations will be available to fund future obligations or that it will not experience delays or cancellations with respect to the resumption of our operations.
First quarter tour revenues of $67.8 million increased $66.0 million as compared to the same period in 2021. The increase was driven by a $49.8 million increase at the Lindblad segment and a $16.3 million increase at the Land Experiences segment primarily due to the ramp in expeditions and trips compared with rescheduling nearly all expeditions and trips in the first quarter a year ago due to COVID-19. The Land Experiences segment also includes a full quarter of results for Off the Beaten Path LLC ("Off the Beaten Path") and DuVine Cycling + Adventure Co. ("DuVine"), which were acquired during the first quarter of 2021, and Classic Journeys, LLC ("Classic Journeys") which was acquired during the fourth quarter of 2021.
Net loss available to stockholders for the first quarter was $43.0 million, $0.85 per diluted share, as compared with net loss available to stockholders of $34.6 million, $0.66 per diluted share, in the first quarter of 2021. The $8.5 million decrease primarily reflects the ramp in operations, which was more than offset by investments in future growth, a $3.0 million increase in interest expense due to additional borrowings and higher rates and a $3.0 million increase in depreciation and amortization primarily due to the addition of the National Geographic Resolution to the fleet in September 2021. The quarter also included an $11.6 million increase in other income mainly due to the utilization of the CERTS grant for covered expenses, mostly offset by $10.9 million of costs related to refinancing the Company's term loan and revolving credit facilities.
First quarter Adjusted EBITDA loss of $21.2 million decreased $0.4 million as compared to the same period in 2021 as a $3.0 million decline at the Lindblad segment was mostly offset by a $2.6 million increase at the Land Experiences segment.
Lindblad segment Adjusted EBITDA loss of $21.0 million was $3.0 million greater than 2021, as increased tour revenues were more than offset by higher cost of tours and increased personnel costs related to the ramp in operations, increased commissions related to the revenue and bookings growth and higher marketing spend to drive future growth.
Land Experiences segment Adjusted EBITDA loss of $0.2 million improved $2.6 million as compared to 2021, primarily due to additional trips, partially offset by higher cost of tours and increased personnel costs related to the ramp in operations and increased marketing costs to drive future bookings. The Land Experiences segment also includes a full quarter of results for Off the Beaten Path and DuVine, which were acquired during the first quarter of 2021, and Classic Journeys which was acquired during the fourth quarter of 2021.
In November 2021, the Company acquired a ship which is currently undergoing renovations and will replace the National Geographic Islander in the Galápagos Islands during the third quarter of 2022. The renovated ship has been named the National Geographic Islander II and will provide immersive and authentic expeditions to 48 guests who will enjoy all suite accommodations, indoor-outdoor dining options and diverse expedition tools and amenities.
In February 2022, the Company further solidified its ability to operate in the Galapagos Islands through an extension of its existing cupos for an additional 20-year period.
The Company currently has a $35.0 million stock repurchase plan in place. As of April 25, 2022, the Company had repurchased 875,218 shares and 6.0 million warrants under the plan for a total of $23.0 million and had $12.0 million remaining under the plan. As of April 25, 2022, there were 50.9 million shares of common stock outstanding. Beginning in March 2020, the Company suspended all stock repurchases given the uncertainty surrounding COVID-19, and it remains suspended due to restrictions related to the Main Street Expanded Loan Facility program.
The COVID-19 pandemic has had, and will continue to have, a significant impact on the Company's financial position and results of operation. Given the continued uncertainty around the COVID-19 pandemic, the Company is not providing a full year outlook regarding results of operations at this time and will update its expectations when it has more clarity around the timing and extent of future operations.
The Company uses a variety of operational and financial metrics, including non-GAAP financial measures such as Adjusted EBITDA, Occupancy, Net Yields and Net Cruise Costs, to enable it to analyze its performance and financial condition. The Company utilizes these financial measures to manage its business on a day-to-day basis and believes that they are the most relevant measures of performance. Some of these measures are commonly used in the cruise and tourism industry to evaluate performance. The Company believes these non-GAAP measures provide expanded insight to assess revenue and cost performance, in addition to the standard GAAP-based financial measures. There are no specific rules or regulations for determining non-GAAP measures, and as such, they may not be comparable to measures used by other companies within the industry.
The presentation of non-GAAP financial information should not be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. The definitions of non-GAAP financial measures along with a reconciliation of non-GAAP financial information to GAAP are included in the supplemental financial schedules.
The Company has scheduled a conference call at 8:30 a.m. Eastern Time on May 3, 2022, to discuss the earnings of the Company. The conference call can be accessed by dialing (844) 378-6487 (United States), (855) 669-9657 (Canada) or (412) 542-4182 (outside the U.S.). A replay of the call will be available at the Company's investor relations website, investors.expeditions.com.
Lindblad Expeditions Holdings, Inc. is an expedition travel company that focuses on ship-based voyages through its Lindblad Expeditions brand and on land-based travel through its subsidiaries, Natural Habitat Adventures, Off the Beaten Path, DuVine and Classic Journeys.
Lindblad Expeditions works in partnership with National Geographic to inspire people to explore and care about the planet. The organizations work in tandem to produce innovative marine expedition programs and promote conservation and sustainable tourism around the world. The partnership's educationally oriented voyages allow guests to interact with and learn from leading scientists, naturalists and researchers while discovering stunning natural environments, above and below the sea, through state-of-the-art exploration tools.
Natural Habitat partners with the World Wildlife Fund to offer and promote conservation and sustainable travel that directly protects nature. Natural Habitat's adventures include polar bear tours in Churchill, Canada, Alaskan grizzly bear adventures and African safaris.
Classic Journeys is a luxury cultural walking tour company that operates a portfolio of curated tours centered around cinematic walks led by expert local guides. Classic Journeys offers active small-group and private custom journeys in over 50 countries around the world.
DuVine designs and leads luxury bike tours in the world's most amazing destinations, from Italy's sun-bleached villages and the medieval towns of Provence to Portugal's Douro Valley and the vineyards of Napa, California. Guests bike, eat, drink, and sleep their way through these regions and many more while sampling the finest cuisine, hotels, and wine.
Off the Beaten Path is an outdoor, active travel company offering guided small group adventures and private custom journeys that connect travelers with the wild nature and authentic culture of their destinations. Off the Beaten Path's trips extend across the globe, with a focus on exceptional national park experiences in the Rocky Mountains, Desert Southwest, and Alaska.
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the Company's financial projections and may also generally be identified as such because the context of such statements will include words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or words of similar import. Similarly, statements that describe the Company's financial guidance or future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause results to differ materially from those expected. Many of these risks and uncertainties are currently amplified by, and will continue to be amplified by, or in the future may be amplified by, the COVID-19 outbreak. It is not possible to predict or identify all such risks. There may be additional risks that we consider immaterial or which are unknown. These factors include, but are not limited to, the following: (i) suspended operations and disruptions to our business and operations related to COVID-19; (ii) the impacts of COVID-19 and/or the Russia-Ukraine conflict on our financial condition, liquidity, results of operations, cash flows, employees, plans and growth; (iii) the impacts of COVID-19 on future travel and the cruise and airline industries in general; (iv) unscheduled disruptions in our business due to travel restrictions, weather events, mechanical failures, pandemics or other events; (v) changes adversely affecting the business in which we are engaged; (vi) management of our growth and our ability to execute on our planned growth; (vii) our business strategy and plans; (viii) our ability to maintain our relationship with National Geographic; (ix) compliance with new and existing laws and regulations, including environmental regulations and travel advisories and restrictions; (x) compliance with the financial and/or operating covenants in our debt arrangements; (xi) adverse publicity regarding the cruise industry in general; (xii) loss of business due to competition; (xiii) the result of future financing efforts; (xiv) delays and costs overruns with respect to the construction and delivery of newly constructed vessels; (xv) the inability to meet revenue and Adjusted EBITDA projections; and (xvi) those risks described in the Company's filings with the SEC. Stockholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release, and the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about factors that may affect the Company's performance may be found in its filings with the SEC, which are available at http://www.sec.gov or at http://www.expeditions.com in the Investor Relations section of the Company's website.
Adjusted EBITDA is net income (loss) excluding depreciation and amortization, net interest expense, other income (expense), income tax (expense) benefit, (gain) loss on foreign currency, (gain) loss on transfer of assets, reorganization costs, and other supplemental adjustments. Other supplemental adjustments include certain non-operating items such as stock-based compensation, executive severance costs, the National Geographic fee amortization, debt refinancing costs, acquisition-related expenses and other non-recurring charges. We believe Adjusted EBITDA, when considered along with other performance measures, is a useful measure as it reflects certain operating drivers of the business, such as sales growth, operating costs, selling and administrative expense, and other operating income and expense. We believe Adjusted EBITDA helps provide a more complete understanding of the underlying operating results and trends and an enhanced overall understanding of our financial performance and prospects for the future. Adjusted EBITDA is not intended to be a measure of liquidity or cash flows from operations or a measure comparable to net income as it does not take into account certain requirements, such as unearned passenger revenues, capital expenditures and related depreciation, principal and interest payments, and tax payments. Our use of Adjusted EBITDA may not be comparable to other companies within the industry.
The following metrics apply to the Lindblad segment:
Adjusted Net Cruise Cost represents Net Cruise Cost adjusted for Non-GAAP other supplemental adjustments which include certain non-operating items such as stock-based compensation, the National Geographic fee amortization and acquisition-related expenses.
Available Guest Nights is a measurement of capacity available for sale and represents double occupancy per cabin (except single occupancy for a single capacity cabin) multiplied by the number of cruise days for the period. We also record the number of guest nights available on our limited land programs in this definition.
Gross Cruise Cost represents the sum of cost of tours plus selling and marketing expenses, and general and administrative expenses.
Gross Yield per Available Guest Night represents tour revenues divided by Available Guest Nights.
Guest Nights Sold represents the number of guests carried for the period multiplied by the number of nights sailed within the period.
Maximum Guests is a measure of capacity and represents the maximum number of guests in a period and is based on double occupancy per cabin (except single occupancy for a single capacity cabin).
Net Cruise Cost represents Gross Cruise Cost excluding commissions and certain other direct costs of guest ticket revenues and other tour revenues.
Net Cruise Cost Excluding Fuel represents Net Cruise Cost excluding fuel costs.
Net Yield represents tour revenues less commissions and direct costs of other tour revenues.
Net Yield per Available Guest Night represents Net Yield divided by Available Guest Nights.
Number of Guests represents the number of guests that travel with us in a period.
Occupancy is calculated by dividing Guest Nights Sold by Available Guest Nights.
Voyages represent the number of ship expeditions completed during the period.
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SOURCE Lindblad Expeditions Holdings, Inc. | https://www.whsv.com/prnewswire/2022/05/03/lindblad-expeditions-holdings-inc-reports-2022-first-quarter-financial-results/ | 2022-05-03T12:11:07Z |
MEDFORD, Ore., May 3, 2022 /PRNewswire/ -- Lithia & Driveway (NYSE: LAD) and Pfaff Automotive Partners today announced the first addition to their Canadian portfolio, Sisley Honda, based in Thornhill, Ontario. The addition of Sisley Honda, one of the highest-volume Honda dealerships in Canada, increases LAD's Canadian footprint with a strong, mainstream import brand.
"We are excited to welcome the Sisley Honda team to our Lithia & Driveway family," said Bryan DeBoer, Lithia & Driveway's President and CEO. "With this addition we are able to expand our omni-channel network in Canada, strengthening our position in one of the top Canadian markets."
Like LAD and Pfaff, Sisley is a multi-generational family business; it was founded in 1946 and has represented the Honda brand for 45 years. Sisley is also a green leader, recognized by Honda Canada in 2021 for having cut energy consumption by 30%.
The addition of Sisley Honda brings LAD's total expected annualized revenue acquired in 2022 to over $1.2 billion. The company is pacing to exceed its 2025 plan to reach $50 billion in revenue and more than $55 in EPS. This acquisition was financed using existing on-balance sheet capacity.
About Lithia & Driveway (LAD):
LAD is a growth company focused on profitably consolidating the largest retail sector in North America through providing personal transportation solutions wherever, whenever, and however consumers desire.
Sites
www.lithia.com
www.pfaffauto.com
www.investors.lithiadriveway.com
www.lithiacareers.com
www.driveway.com
www.greencars.com
www.drivewayfinancecorp.com
Lithia & Driveway on Facebook
https://www.facebook.com/LithiaMotors
https://www.facebook.com/DrivewayHQ
Lithia & Driveway on Twitter
https://twitter.com/lithiamotors
https://twitter.com/DrivewayHQ
https://twitter.com/GreenCarsHQ
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SOURCE Lithia Motors, Inc. | https://www.whsv.com/prnewswire/2022/05/03/lithia-amp-driveway-lad-continues-canadian-expansion-with-addition-sisley-honda/ | 2022-05-03T12:11:14Z |
Strategic partnership will leverage Luma Health's KLAS-recognized Healthcare Engagement Engine™ alongside proven revenue-cycle capabilities to develop novel patient experiences
SAN FRANCISCO, May 3, 2022 /PRNewswire/ -- Luma Health announced a partnership with Change Healthcare to create new patient engagement solutions that seamlessly connect every touchpoint across the patient journey. The two companies will develop solutions to meet health systems' demand for streamlined and unified clinical, operational, and financial journeys. The companies will bring a shared patient-first and interoperability-focused approach to tackling fragmentation in healthcare and creating a more intentional, unified patient experience.
"We share the same passion with Change Healthcare: to improve healthcare for patients and providers. By launching this partnership, we can elevate the patient experience and bridge the gap in our healthcare system by connecting every step of the patient journey," said Aditya Bansod, co-founder and chief technology officer at Luma Health.
The combination of Luma Health's leading Healthcare Engagement Engine™ and Change Healthcare's revenue-cycle management technology will enable the development of a more complete ecosystem that a patient can thrive in and engage with easily. Change Healthcare's extensive reach across operational and revenue cycle workflows, combined with Luma Health's deep integration with the electronic health record (EHR) and full suite of patient engagement solutions, will provide the foundation for truly unified journeys in healthcare.
"The Dent Neurologic Institute strives to offer our patients cutting-edge care, which requires a comprehensive solution that streamlines the patient journey, simplifies complex processes, and reduces administrative burnout. The partnership between Luma Health and Change Healthcare will bring together exciting offerings for healthcare organizations, further improving the experience for patients and healthcare teams," said Lee Williams, general counsel and director of business development at Dent Neurologic Institute.
The collaboration between Luma Health and Change Healthcare will empower patients on every step of their care journey, from the moment they need care to after they receive it. By keeping patients more connected to all aspects of their care and improving communication between staff, providers, and patients, this partnership will improve the experience for both providers and patients.
"The healthcare system exists for patients, but it often doesn't feel that way. The success of Luma Health's patient engagement capabilities reflects the same vigor that Change Healthcare has around getting the patient on a seamless path through the healthcare system. Together, with Luma Health, we will develop an end-to-end solution to make that vision a reality," said Mike Peresie, senior vice president and general manager of revenue cycle management and decision support at Change Healthcare.
About Luma Health
Luma Health was founded on the idea that healthcare should work better for all patients. Every single point along the care journey should be simple, seamless, and effective, from accessing care to achieving health goals. Luma Health empowers providers to make this a reality through its digital health solutions, designed to boost access, streamline patient-provider communications, and drive increased revenues. Headquartered in San Francisco, Luma Health's Healthcare Engagement Engine™ is accelerating the digital transformation in healthcare by delivering digital health solutions that drive patient engagement and continuous care, empowering thousands of providers and more than 30 million patients across the United States today. For more information on Luma Health please visit our website; follow us on LinkedIn, Facebook, and Twitter; hear from our experts on our blog.
Media contact:
Tim Cox,
ZingPR,
tim@zingpr.com
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SOURCE Luma Health Inc. | https://www.whsv.com/prnewswire/2022/05/03/luma-health-partners-with-health-tech-leader-develop-solutions-unify-all-journeys-clinical-operational-financial-patients/ | 2022-05-03T12:11:21Z |
TEL AVIV, Israel, May 3, 2022 /PRNewswire/ -- Lutris Pharma, a clinical stage biopharmaceutical company focused on improving anti-cancer therapies by reducing dose limiting side effects, today announced that Benjamin W. Corn, MD, PhD, Chief Medical Officer, will present a company overview at the Bio€quity Europe 2022 conference taking place in Milan, Italy May 17-18, 2022 and virtually, May 23-24, 2022.
- May 17-18: As part of this year's "Next Wave" (rising biotechnology companies) presentation track, Dr. Corn's pre-recorded presentation is now available on-demand for attendees and for 30-days after the conference. Additionally, Noa Shelach, Ph.D, Chief Executive Officer, will be available for both in-person and virtual one-on-one meetings with registered attendees.
- May 23-24: Dr. Shelach will be available for virtual one-on-one meetings with registered attendees.
The Bio€quity Europe one-on-one partnering platform enables partners and investors to schedule meetings. If interested, please register at: https://informaconnect.com/bioequity-europe/registration-options/ or contact Michael Miller at mmiller@rxir.com.
About Lutris Pharma
Lutris Pharma is a clinical stage biopharmaceutical company focused on improving anti-cancer therapy effectiveness and quality of life for patients who are being treated with EGFR (Epidermal Growth Factor Receptor) inhibitors or with radiation, where dermal toxicity often leads to a reduction of anti-cancer therapy compliance. The company aims to provide novel topical therapies in order to mitigate these side effects. Lutris Pharma's lead asset, LUT014, a topical B-Raf Inhibitor, is a proprietary, first-in-class, small molecule currently in a phase 2 clinical trial in metastatic colorectal cancer patients with EGFR inhibitor induced acneiform lesions and a phase 1/2 study for the treatment of radiation-induced dermatitis in breast cancer patients. For more information, please visit www.lutris-pharma.com.
Contacts:
Lutris Pharma
Noa Shelach, Ph.D.
Chief Executive Officer
ir@lutris-pharma.com
Rx Communications Group
Michael Miller
+1-917-633-6086
mmiller@rxir.com
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SOURCE Lutris Pharma | https://www.whsv.com/prnewswire/2022/05/03/lutris-pharma-present-bioquity-europe-conference/ | 2022-05-03T12:11:28Z |
Regular Monthly Dividends of $0.215 per Share for each of July, August and September 2022
Supplemental Dividend of $0.075 per Share Payable in June 2022
HOUSTON, May 3, 2022 /PRNewswire/ -- Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce that its Board of Directors declared regular monthly cash dividends of $0.215 per share for each of July, August and September 2022. These monthly dividends, which will be payable pursuant to the table below, total $0.645 per share for the third quarter of 2022, represent a 4.9% increase from the regular monthly dividends paid for the third quarter of 2021 and are consistent with the regular monthly dividends declared for the second quarter of 2022. Since its October 2007 initial public offering, Main Street has periodically increased the amount of its regular monthly dividends paid per share and has never reduced its regular monthly dividend amount per share.
Summary of Third Quarter 2022 Regular Monthly Dividends
In addition to the regular monthly dividends for the third quarter of 2022, the Board of Directors declared a supplemental cash dividend of $0.075 per share payable in June 2022. This supplemental cash dividend, which will be payable as set forth in the table below, will be paid out of Main Street's undistributed taxable income (taxable income in excess of dividends paid) as of March 31, 2022. Including all dividends declared to date, including the third quarter 2022 regular monthly dividend and the second quarter 2022 supplemental dividend, Main Street will have paid $34.26 per share in cumulative cash dividends since its October 2007 initial public offering at $15.00 per share.
Supplemental Cash Dividend Payable in June 2022
The final determination of the tax attributes for dividends each year are made after the close of the tax year. The final tax attributes for 2022 dividends are currently expected to include a combination of ordinary taxable income and qualified dividends and may include capital gains and return of capital.
Main Street maintains a dividend reinvestment and direct stock purchase plan (the "Plan"). The dividend reinvestment feature of the Plan (the "DRIP") provides for the reinvestment of dividends on behalf of Main Street's registered stockholders who hold their shares with Main Street's transfer agent and registrar, American Stock Transfer and Trust Company, or certain brokerage firms that have elected to participate in the DRIP. Under the DRIP, if Main Street declares a dividend, registered stockholders who have not "opted out" of the DRIP by the dividend record date will have their dividend automatically reinvested into additional shares of Main Street common stock. The direct stock purchase feature of the Plan (the "DSPP") provides investors with a convenient and economical method to purchase shares of Main Street common stock. More information about the Plan (including the DSPP prospectus) can be found on the Main Street website (https://ir.mainstcapital.com/dividend-reinvestment-and-direct-stock-purchase-plan).
ABOUT MAIN STREET CAPITAL CORPORATION
Main Street (www.mainstcapital.com) is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Main Street's portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market investment strategy. Main Street's lower middle market companies generally have annual revenues between $10 million and $150 million. Main Street's private loan and middle market debt investments are made in businesses that are generally larger in size than its lower middle market portfolio companies.
Main Street, through its wholly owned portfolio company MSC Adviser I, LLC ("MSC Adviser"), also maintains an asset management business through which it manages investments for external parties. MSC Adviser is registered as an investment adviser under the Investment Advisers Act of 1940.
FORWARD-LOOKING STATEMENTS
This press release may contain certain forward-looking statements, including but not limited to the continued payment and growth of future dividends and the potential tax attributes for 2022 dividends. Any such statements other than statements of historical fact are likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Main Street's control, and that Main Street may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual performance and results could vary materially from these estimates and projections of the future as a result of a number of factors, including those described from time to time in Main Street's filings with the Securities and Exchange Commission. Such statements speak only as of the time when made and are based on information available to Main Street as of the date hereof and are qualified in their entirety by this cautionary statement. Main Street assumes no obligation to revise or update any such statement now or in the future.
Contacts:
Main Street Capital Corporation
Dwayne L. Hyzak, CEO, dhyzak@mainstcapital.com
Jesse E. Morris, CFO and COO, jmorris@mainstcapital.com
713-350-6000
Dennard Lascar Investor Relations
Ken Dennard | ken@dennardlascar.com
Zach Vaughan | zvaughan@dennardlascar.com
713-529-6600
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SOURCE Main Street Capital Corporation | https://www.whsv.com/prnewswire/2022/05/03/main-street-announces-third-quarter-2022-regular-monthly-dividends-supplemental-dividend-payable-june-2022/ | 2022-05-03T12:11:34Z |
FINDLAY, Ohio, May 3, 2022 /PRNewswire/ --
- Net income attributable to MPC of $845 million, or $1.49 per diluted share
- Adjusted EBITDA of $2.6 billion, of which $1.4 billion is Refining and Marketing
- Net cash provided by operating activities of $2.5 billion, inclusive of $0.6 billion of favorable changes in working capital
- ~$8 billion of shares repurchased since inception of capital return program
- Announced 15% Scope 3 absolute greenhouse gas emission reduction target by 2030
Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $845 million, or $1.49 per diluted share, for the first quarter of 2022, compared with a net loss of $242 million, or $(0.37) per diluted share, for the first quarter of 2021.
Adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA) was $2.6 billion in the first quarter of 2022, compared with $1.6 billion for the first quarter of 2021. The first quarter of 2021 includes $332 million of adjusted EBITDA from discontinued operations.
"MPC first quarter results reflect our team's ability to execute on our strategic pillars in these market conditions," said President and Chief Executive Officer Michael J. Hennigan. "This quarter we advanced our low carbon strategy with the announcement of our intent to form a joint venture with Neste at our Martinez Renewable Fuels Facility and a 15% Scope 3 absolute GHG emission reduction target. We have now completed approximately $8 billion of MPC share repurchases since the inception of our $10 billion return of capital program."
Results from Operations
Refining & Marketing (R&M)
Segment adjusted EBITDA was $1.4 billion in the first quarter of 2022, versus $23 million for the first quarter of 2021. Segment adjusted EBITDA excludes refining planned turnaround costs, which totaled $145 million in the first quarter of 2022 and $112 million in the first quarter of 2021. First-quarter 2021 segment adjusted EBITDA also excludes winter storm effects of $31 million. The increase in R&M EBITDA was driven by higher margins and throughput in all regions.
R&M margin was $15.31 per barrel for the first quarter of 2022, versus $10.16 per barrel for the first quarter of 2021. Crude capacity utilization was 91%, resulting in total throughput of 2.8 million barrels per day for the first quarter of 2022. This compares to crude capacity utilization of 83% for the first quarter of 2021, which resulted in total throughput of 2.6 million barrels per day.
Midstream
Segment adjusted EBITDA was $1.4 billion in the first quarter of 2022, versus $1.3 billion for the first quarter of 2021. First-quarter 2021 segment adjusted EBITDA excludes winter storm effects of $16 million.
Corporate and Items Not Allocated
Corporate expenses totaled $151 million in the first quarter of 2022, compared with $157 million in the first quarter of 2021.
Speedway
This business was sold on May 14, 2021. Historic results are reported as discontinued operations.
Financial Position and Liquidity
As of March 31, 2022, MPC had $10.6 billion of cash, cash equivalents, and short-term investments. There were no borrowings outstanding under the company's $5 billion five-year bank revolving credit facility.
MPC debt at the end of the first quarter of 2022 totaled $7.0 billion, excluding MPLX debt. MPC's debt-to-capital ratio, excluding MPLX debt, was 22% at the end of the first quarter of 2022.
On March 14, 2022, MPLX issued $1.5 billion aggregate principal amount of 4.950% senior notes due March 2052. As of March 31, 2022, MPLX had repaid approximately $1.1 billion of the amount outstanding under the intercompany loan with MPC.
Strategic and Operations Update
Since the last earnings call, the company has repurchased approximately $2.5 billion of company shares, and has completed, as of April 30, 2022, approximately 80% of the $10 billion repurchase program. The company has approximately $7 billion remaining under its share repurchase authorizations.
MPC announced it has entered into definitive agreements to form a joint venture with Neste for Marathon's Martinez renewable fuels project. The partnership will be structured as a 50/50 joint venture with Neste expected to contribute a total of $1 billion, inclusive of half of the total estimated development costs. MPC will continue to manage project execution and operate the facility once construction is complete. The closing of the joint venture is subject to customary closing conditions and regulatory approvals, including obtaining the necessary permits, which depend upon certification of a final Environmental Impact Report.
The Martinez facility is currently targeted to have a production capacity of 260 million gallons per year of renewable diesel in the second half of 2022, with pretreatment capabilities to come online in 2023. The facility is expected to be capable of producing 730 million gallons per year by the end of 2023. The expected and targeted timelines for achieving the production capacities outlined above are dependent upon the timing of obtaining the necessary permits to operate the facility.
On February 14, 2022, MPC established a 2030 target to reduce absolute Scope 3 – Category 11 greenhouse gas (GHG) emissions by 15% below 2019 levels. The new Scope 3 target further enhances MPC's GHG disclosures and is part of the company's commitment to continuously improve its environmental performance while meeting society's energy needs sustainably.
The Midstream segment remains focused on executing the strategic priorities of strict capital discipline, embedding a low cost culture, and optimizing the portfolio. MPLX continues to evaluate opportunities to expand its logistics to meet the needs of today and participate in an energy-diverse future.
Conference Call
At 11:00 a.m. ET today, MPC will hold a conference call and webcast to discuss the reported results and provide an update on company operations. Interested parties may listen by visiting MPC's website at www.marathonpetroleum.com. A replay of the webcast will be available on the company's website for two weeks. Financial information, including the earnings release and other investor-related materials, will also be available online prior to the conference call and webcast at www.marathonpetroleum.com.
About Marathon Petroleum Corporation
Marathon Petroleum Corporation (MPC) is a leading, integrated, downstream energy company headquartered in Findlay, Ohio. The company operates the nation's largest refining system. MPC's marketing system includes branded locations across the United States, including Marathon brand retail outlets. MPC also owns the general partner and majority limited partner interest in MPLX LP, a midstream company that owns and operates gathering, processing, and fractionation assets, as well as crude oil and light product transportation and logistics infrastructure. More information is available at www.marathonpetroleum.com.
Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President
Brian Worthington, Manager
Kenan Kinsey, Analyst
Media Contact: (419) 421-3312
Jamal Kheiry, Communications Manager
References to Earnings and Defined Terms
References to earnings mean net income attributable to MPC from the statements of income. Unless otherwise indicated, references to earnings and earnings per share are MPC's share after excluding amounts attributable to noncontrolling interests.
Forward-Looking Statements
This press release contains forward-looking statements regarding MPC. These forward-looking statements may relate to, among other things, MPC's expectations, estimates and projections concerning its business and operations, financial priorities, strategic plans and initiatives, capital return plans, including the completion of the Speedway sale proceeds capital return program within the anticipated timeframe, operating cost and capital expenditure reduction objectives, and environmental, social and governance goals. You can identify forward-looking statements by words such as "anticipate," "believe," "commitment," "could," "design," "estimate," "expect," "forecast," "goal," "guidance," "imply," "intend," "may," "objective," "opportunity," "outlook," "plan," "policy," "position," "potential," "predict," "priority," "project," "proposition," "prospective," "pursue," "seek," "should," "strategy," "target," "will," "would" or other similar expressions that convey the uncertainty of future events or outcomes. MPC cautions that these statements are based on management's current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of MPC, that could cause actual results and events to differ materially from the statements made herein. Factors that could cause MPC's actual results to differ materially from those implied in the forward-looking statements include but are not limited to: the continuance or escalation of the military conflict between Russia and Ukraine and related sanctions; general economic, political or regulatory developments, including inflation, and changes in governmental policies relating to refined petroleum products, crude oil, natural gas or NGLs, or taxation; the magnitude, duration and extent of future resurgences of the COVID-19 pandemic and its effects; the regional, national and worldwide demand for refined products and related margins; the regional, national or worldwide availability and pricing of crude oil and other feedstocks and related pricing differentials; the success or timing of completion of ongoing or anticipated projects or transactions, including the conversion of the Martinez Refinery to a renewable fuels facility and joint venture with Neste, including the timing and ability to obtain necessary regulatory approvals and permits and to satisfy other conditions necessary to consummate the joint venture within the expected timeframe if at all; the availability of desirable strategic alternatives to optimize portfolio assets and the ability to obtain regulatory and other approvals with respect thereto; our ability to successfully implement our sustainable energy strategy and principles, including our GHG intensity and emissions, methane intensity and freshwater withdrawal intensity targets, and realize the expected benefits thereof; accidents or other unscheduled shutdowns affecting our refineries, machinery, pipelines, processing, fractionation and treating facilities or equipment, means of transportation, or those of our suppliers or customers; the impact of adverse market conditions or other similar risks to those identified herein affecting MPLX; and the factors set forth under the heading "Risk Factors" in MPC's and MPLX's Annual Reports on Form 10-K for the year ended Dec. 31, 2021, and in other filings with the SEC. Any forward-looking statement speaks only as of the date of the applicable communication and we undertake no obligation to update any forward-looking statement except to the extent required by applicable law.
Copies of MPC's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC's website, MPC's website at https://www.marathonpetroleum.com/Investors/ or by contacting MPC's Investor Relations office. Copies of MPLX's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC's website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office.
Refining & Marketing - Supplemental Operating Data by Region (unaudited)
The per barrel for Refining & Marketing margin is calculated based on net refinery throughput (excludes inter-refinery transfer volumes). The per barrel for the refining operating costs, refining planned turnaround costs and refining depreciation and amortization for the regions, as shown in the tables below, is calculated based on the gross refinery throughput (includes inter-refinery transfer volumes).
Refining operating costs exclude refining planned turnaround costs, refining depreciation and amortization expense and the estimated 2021 storm impacts.
Non-GAAP Financial Measures
Management uses certain financial measures to evaluate our operating performance that are calculated and presented on the basis of methodologies other than in accordance with GAAP. We believe these non-GAAP financial measures are useful to investors and analysts to assess our ongoing financial performance because, when reconciled to their most comparable GAAP financial measures, they provide improved comparability between periods through the exclusion of certain items that we believe are not indicative of our core operating performance and that may obscure our underlying business results and trends. These measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP, and our calculations thereof may not be comparable to similarly titled measures reported by other companies. The non-GAAP financial measures we use are as follows:
Adjusted Net Income Attributable to MPC
Adjusted net income attributable to MPC is defined as net income attributable to MPC excluding the items in the table below, along with their related income tax effect. For the first quarter of 2021 presented, we applied a combined federal and state statutory tax rate of 24% to the adjusted pre-tax income or loss. We have excluded these items because we believe that they are not indicative of our core operating performance and that their exclusion results in an important measure of our ongoing financial performance to better assess our underlying business results and trends.
Adjusted Diluted Earnings Per Share
Adjusted diluted earnings per share is defined as adjusted net income attributable to MPC divided by the number of weighted-average shares outstanding in the applicable period, assuming dilution.
Adjusted EBITDA
Amounts included in net income (loss) attributable to MPC and excluded from adjusted EBITDA include (i) net interest and other financial costs; (ii) provision/benefit for income taxes; (iii) noncontrolling interests; (iv) depreciation and amortization; (v) refining planned turnaround costs and (vi) other adjustments as deemed necessary, as shown in the table below. We believe excluding turnaround costs from this metric is useful for comparability to other companies as certain of our competitors defer these costs and amortize them between turnarounds.
Adjusted EBITDA should not be considered as a substitute for, or superior to segment income (loss) from operations, net income attributable to MPC, income before income taxes, cash flows from operating activities or any other measure of financial performance presented in accordance with GAAP. Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.
Refining & Marketing Margin
Refining margin is defined as sales revenue less the cost of refinery inputs and purchased products.
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SOURCE Marathon Petroleum Corporation | https://www.whsv.com/prnewswire/2022/05/03/marathon-petroleum-corp-reports-first-quarter-2022-results/ | 2022-05-03T12:11:41Z |
MAXIM IS BRINGING ITS PRESTIGIOUS EVENT TO MONTREAL
DURING THE GRAND PRIX WEEKEND
MONTREAL, May 3, 2022 /PRNewswire/ - Notorious for its electrifying nightlife and world-renowned festivals, Montreal is set to welcome the first-ever MAXIM event during the Grand Prix Weekend. T-Pain and Wyclef Jean are just some of the artists performing at the star-studded affair to be held on Saturday, June 18, at the prestigious Windsor Station located at 1160 Avenue des Canadiens-de-Montréal. Visit maximgrandprixparty.com for tickets and more information.
WHAT IS A MAXIM EVENT?
MAXIM is renowned for bringing together influential people for its glamorous events during key moments in sport, music, and entertainment. MAXIM events have been held in cities such as Los Angeles, Las Vegas, and Miami, to name a few. Whether it's during their annual Hot 100, Halloween or Big Game Parties, MAXIM patrons have partied with some of the world's biggest stars like 50 Cent, The Chainsmokers, Heidi Klum, Ludacris, and Cardi B.
The MAXIM GRAND PRIX PARTY will be the first of its kind in Montreal. Attend the biggest party of Grand Prix Weekend and be the first attendees of this Red Carpet VIP experience: tickets will officially be on sale starting Wednesday, May 4th at noon Eastern time. This exclusive affair is limited to only 3,000 guests!
Windsor Station will be transformed by race themed party areas such as the Pitlane, the Paddock and the Parc Fermé, including live performances, circus acts, VIP booths, with celebrities, models, and athletes in attendance. Our very own famous model and influencer, Kim Bruneau, will host the A-list soirée with the following confirmed international artists: Frank Walker, Kim Lee, Juicy M and Montreal's own star DJ Domeno joining T-Pain and Wyclef Jean, with many more celebrities to be announced soon. The organizers created a festival-like lineup for this exceptional event.
Be a part of the first ever MAXIM GRAND PRIX PARTY and get your tickets now!
What: MAXIM GRAND PRIX PARTY
When: Saturday, June 18, 2022
Time: From 8 p.m. to 3 a.m.
Where: Windsor Station located at 1160 Avenue des Canadiens-de-Montreal
Tickets: On sale Wednesday, May 4th at noon - maximgrandprixparty.com
ABOUT THE ARTISTS
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SOURCE JPM Solutions Marketing Inc. | https://www.whsv.com/prnewswire/2022/05/03/maxim-grand-prix-party/ | 2022-05-03T12:11:48Z |
AssetCare Mobile Now Available and in Deployment with First Customers as All-in-One Software and Headset Solution Ready to Deploy Out of the Box
SAN FRANCISCO, May 3, 2022 /PRNewswire/ - mCloud Technologies Corp. (Nasdaq: MCLD) (TSXV: MCLD), ("mCloud" or the "Company") a leading provider of AI-powered asset management and Environmental, Social, and Governance ("ESG") solutions, today announced the first all-in-one connected worker solution enabling the "digital oilfield" and enhancing the productivity and safety of field workers across the energy industry, ready for deployment "out of the box."
mCloud will showcase the solution, called AssetCare Mobile™, in action at the IQPC Oil and Gas Connected Worker Summit in Houston, Texas May 3-5, 2022. Vincent Higgins, mCloud's President, Oil and Gas Digitization, will keynote the event, sharing his views on the role of digitalization in the future of work.
Delivered in partnership with Moziware, the creators of the world's first pocket-sized, voice-activated, hands-free head-worn display, AssetCare Mobile provides everything, including all the hardware, software and support industrial workers need to get straight to work. AssetCare Mobile is offered on a simple subscription with plans as low as US$99 per month on 36-month terms.
With AssetCare Mobile, connected workers in the field can instantly access critical asset information in real-time; communicate and collaborate with experts and other co-workers remotely; easily share photos and videos of equipment requiring repair; digitize processes and workflows such as operator rounds and field inspections; and work more safely in hazardous environments.
Based on field trials with AssetCare Mobile customers in live field settings, mCloud estimates companies can expect to see up to:
- 30% faster work order and task completion
- 98% reduction in back-office turnaround
- 96% in jobs completed accurately the first time
- 15% improvement in wrench time
AssetCare Mobile integrates seamlessly with existing IT, OT, and enterprise systems. AssetCare Mobile also works on any device, including tablets, smartphones and other headsets, enabling organizations to implement the solution immediately. mCloud offers future-proofing with select AssetCare Mobile subscriptions, enabling customers to receive upgrades to mobile hardware, ensuring access to the latest mobile devices on the market.
"AssetCare Mobile is the only connected worker solution that's ready for the digital oilfield, giving workers all the tools they need to complete complex tasks in the field efficiently and safely," said Higgins. "We are incredibly excited to be first-to-market and already deploying to digital oilfield customers in the United States with the world's first connected worker solution that brings together all of the capabilities industrial customers are looking for in one convenient package."
"With our ability to deploy in any industrial field setting and work on any device, including the incredible Moziware Cimo, AssetCare Mobile is the world's most versatile connected worker solution, bringing people and information together no matter where they are, so your workforce can get every job done right – the first time," Higgins added. "The future of connected work has arrived."
Every AssetCare Mobile subscription includes everything a worker needs to be connected and ready to do their jobs, including:
- Next-gen Moziware CIMO hands-free headset
- 36-month subscription to AssetCare Mobile
- Headband, hard hat clips and charging cable
- Video calling capabilities
- Digital forms for capturing field data
- Pre-loaded voice-activated apps
- Complementary onboarding, training and 24/7 support
Those interested in AssetCare Mobile are invited to visit assetcare.mcloudcorp.com/mobile/ to learn more.
mCloud is pleased to offer a 20% discount with code MCLOUD20 on last-minute registrations for the IQPC Oil and Gas Connected Worker Summit at www.oilandgasiq.com/events-the-connected-worker.
mCloud is unlocking the untapped potential of energy intensive assets with AI and analytics, curbing energy waste, maximizing energy production, and getting the most out of critical energy infrastructure. Through mCloud's AI-powered AssetCare™ platform, mCloud offers complete asset management solutions for commercial buildings, renewable energy, healthcare, heavy industry, and connected workers. IoT sensors bring data from connected assets into the cloud, where AI and analytics are applied to maximize their performance.
With a worldwide presence and offices in San Francisco, Vancouver, Calgary, London, Perth, Singapore, and Beijing, the mCloud family includes an ecosystem of operating subsidiaries that deliver high-performance IoT, AI, 3D, and mobile capabilities to customers, all integrated into AssetCare. With over 100 blue-chip customers and more than 63,000 assets connected in thousands of locations worldwide, mCloud is changing the way energy assets are managed.
mCloud's common shares trade in the United States on the Nasdaq and in Canada on the TSX Venture Exchange under the symbol MCLD. mCloud's convertible debentures trade on the TSX Venture Exchange under the symbol MCLD.DB. For more information, visit www.mcloudcorp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE mCloud Technologies Corp. | https://www.whsv.com/prnewswire/2022/05/03/mcloud-enables-digital-oilfield-with-worlds-first-fully-integrated-mobile-connected-worker-solution/ | 2022-05-03T12:11:54Z |
Contract for robotic interfaces another important milestone as company brings full suite of commercial space products to market
BRAMPTON, ON, May 3, 2022 /PRNewswire/ - MDA Ltd. (TSX: MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, today announced the first commercial sale of its Canadarm3 technology to Axiom Space. The contract is for the delivery of 32 external robotic interfaces for Axiom Space's Axiom Station which is now under construction and on schedule to be the world's first commercial space station in orbit.
MDA offers a full range of space robotics capabilities for multiple missions and applications. The MDA technology destined for Axiom Station includes commercial variants of Canadarm3 interfaces destined for the Artemis Gateway, providing opportunities for efficiencies for commercial users that will help to enable a sustainable and competitive marketplace in space.
"The sale of our Canadarm3 technology to Axiom Space signifies a major shift in the commercial landscape and is a turning point for MDA as we fulfill our vision of bringing a full suite of space robotics products to market," said Mike Greenley, CEO of MDA. "As the global space economy continues to accelerate, there is increasing demand for a wide variety of space robotics designed to fulfill all kinds of objectives – and MDA is uniquely positioned to capitalize on this opportunity. Today's announcement is just the beginning of this journey, and yet another proof point that MDA can meet the growing needs of space companies around the world."
The MDA interfaces aboard Axiom's space station will also include those that allow the existing Canadarm2 on the International Space Station (ISS) to build and assemble the new Axiom Station. Once that stage is complete, MDA's Canadarm3 interfaces will act as permanent robotic system fixture points on the outside of Axiom Station, forming the foundation for future robotic arm integration and utilization once it separates from the ISS and operates independently.
"Canadarm technology has been a mainstay in human spaceflight and will continue to be a pivotal part in this next chapter in human exploration as we build a robust economy in low Earth orbit that benefits all of humanity, in space and on Earth," said Michael Suffredini, President and CEO of Axiom Space. "We are proud to work with MDA as we build the next-generation microgravity platform Axiom Station, the world's first commercial space station, with leading robotic technologies like Canadarm3 technology that will enable limitless innovation and ensure a seamless transition in low Earth orbit."
Built and operated through private sector funds, Axiom Station will initially be attached to the ISS and will separate from the ISS before NASA decommissions the ISS at the end of the decade. Axiom Station will serve as a global research and commercial hub establishing a robust and competitive economy in Low Earth Orbit (LEO). It will be used for a variety of activities, including in-space manufacturing, human spaceflight missions to LEO, and deep space exploration.
Serving the world from its Canadian home and global offices, MDA (TSX:MDA) is an international space mission partner and a robotics, satellite systems and geointelligence pioneer with a 50-year story of firsts on and above the Earth. With over 2,400 staff across Canada, the US and the UK, MDA is leading the charge towards viable Moon colonies, enhanced Earth observation, communication in a hyper-connected world, and more. With a track record of making space ambitions come true, MDA enables highly skilled people to continually push boundaries, tackle big challenges, and imagine solutions that inspire and endure to change the world for the better, on the ground and in the stars.
This press release contains forward–looking information within the meaning of applicable securities legislation, which reflects the Company's current expectations regarding future events. Forward–looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward–looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in MDA's Annual Information Form available on SEDAR at www.sedar.com. MDA does not undertake any obligation to update such forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Twitter: www.twitter.com/MDA_space
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SOURCE MDA Inc. | https://www.whsv.com/prnewswire/2022/05/03/mda-completes-first-commercial-sale-canadarm3-technology-axiom-space/ | 2022-05-03T12:12:01Z |
DENVER, May 3, 2022 /PRNewswire/ -- Mercer Global Advisors, Inc. ("Mercer Advisors"), a national Registered Investment Adviser (RIA), today announced a merger with HYA Advisors, Inc., and related entity Heim, Young & Associates, Inc. (together "HYA Advisors"). HYA Advisors, a respected wealth management firm headquartered in Springfield, Missouri, serves approximately 1,000 clients with assets under management and advisement (AUM/A) of approximately $1.2 billion. HYA was founded in 1991 by Dennis Heim CFP®, CRPS®, Partner/Principal and Dean Young, M.S., CFP®, CRPS®, Partner/Principal. The firm is currently led by Brent Singleton CFP®, AIF®, Partner/Principal, Mike Sharp CFP®, CLTC®, Partner/Principal, Jeff Bilberry CFP® Partner/Principal and Holly M. Gray CFP®, Partner. HYA Advisors' talented team will also be joining Mercer Advisors.
HYA's dedicated team of professionals works with clients to provide the highest level of service by helping them determine what is important to their family and helping them achieve it. Their team of CFP® Professionals meets the highest ethical standards and provides clients with independent solutions tailored to fit their individual needs to help them on their journey to economic freedom.
Commenting on the new merger, HYA Leader and Partner, Brent Singleton ("Brent") stated: "My partners and I were at a place where the business had grown substantially, and we knew we could benefit from having the expertise of a larger firm to help take us to the next level. We also knew that we wanted to expand the financial planning services available to our clients. We were introduced to David Barton, Vice Chairman and Head of Mergers & Acquisitions at Mercer Advisors, to discuss our options, and see if partnering with a larger firm like Mercer Advisors made sense. After several conversations, we became very excited because we felt like Mercer Advisors completely aligned with our values of taking care of our clients first, as well as providing an opportunity for our employees to grow." David Barton stated: "We were impressed with the team at HYA from day one and knew we could help them continue to grow their business but do so with the infrastructure and scale of a national platform RIA like Mercer Advisors that freed them up to do what they do best, serving existing clients and winning new ones. Further, Brent and his partners wanted to remain as equity owners in the business they were helping to grow, and we created a deal structure that allowed them to do just that. This partnership structure allowed everyone to get what they wanted, but most importantly created added value to HYA clients through the addition of Mercer Advisor services like in-house estate planning, tax return preparation, corporate trustee services, etc. A true 'win-win' for all concerned."
Dave Welling, Chief Executive Officer of Mercer Advisors, said, "The Partners at HYA have built a great business, a strong team and they are a highly respected group of wealth management professionals. We are thrilled to be opening a new location in Springfield, Missouri and look forward to working together to deliver meaningful results for our shared clients."
About Mercer Advisors
Established in 1985, Mercer Global Advisors Inc. ("Mercer Advisors") is a total wealth management firm that provides comprehensive, fee-based investment management, financial planning, family office services, retirement benefits and distribution planning, estate and tax planning, insurance solutions, and corporate trustee and trust administration services. Mercer Advisors Inc. is a parent company of Mercer Global Advisors Inc. (RIA), majority owned by both Oak Hill Capital and Genstar Capital, one of the largest Registered Investment Advisors and financial planning firms in the U.S. with over $38 billion in client assets. Headquartered in Denver, Mercer Advisors is privately held, has over 670 employees, and operates nationally through 60+ offices across the country. For more information, visit www.merceradvisors.com.
Data as of March 30, 2022. AUM includes affiliates and wholly owned subsidiaries.
Mercer Global Advisors Inc. is registered with the Securities and Exchange Commission and delivers all investment-related services. Mercer Advisors Inc. is the parent company of Mercer Global Advisors Inc. and is not involved with investment services.
Mercer Advisors is not a law firm and does not provide legal advice to clients. All estate planning documentation preparation and other legal advice is provided through its affiliation with Advanced Services Law Group, Inc. Corporate trustee services are offered through National Advisors Trust Company. Tax preparation and tax filing are a separate fee from our investment management and planning services.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements. Chartered Retirement Plan Specialist℠ and CRPS® are trademarks or registered service marks of the College for Financial Planning in the United States.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
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SOURCE Mercer Global Advisors Inc. | https://www.whsv.com/prnewswire/2022/05/03/mercer-advisors-acquires-hya-advisors-inc-with-approximately-12-billion-auma-hya-expands-mercer-advisors-central-us-presence/ | 2022-05-03T12:12:08Z |
TROY, Mich., May 3, 2022 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today reported financial results for its second fiscal quarter that ended March 31, 2022.
Second-Quarter Highlights
- Sales of $1,154 million
- Net income attributable to Meritor of $62 million and net income from continuing operations attributable to Meritor of $61 million
- Diluted earnings per share from continuing operations of $0.85
- Adjusted income from continuing operations attributable to the company of $70 million, or $0.98 of adjusted diluted earnings per share
- Adjusted EBITDA of $127 million and adjusted EBITDA margin of 11.0 percent
- Operating cash flow was negative $17 million
- Free cash flow was negative $38 million
For the second quarter of fiscal year 2022, Meritor posted sales of $1,154 million, up $171 million, or approximately 17 percent, from the same period last year. The increase in sales was primarily driven by higher truck production in most global markets and pricing actions.
Net income attributable to Meritor was $62 million, or $0.86 per diluted share, compared to $63 million, or $0.86 per diluted share, in the same period last year. Net income from continuing operations attributable to Meritor was $61 million, or $0.85 per diluted share, compared to $63 million, or $0.86 per diluted share, in the same period last year. Flat net income year over year was driven primarily by higher sales volumes, pricing actions and lower tax expense, partially offset by increased steel and freight costs, and the recognition of value-added tax credits in Brazil during the second quarter of fiscal year 2021.
Adjusted income from continuing operations attributable to the company in the second quarter of fiscal year 2022 was $70 million, or $0.98 of adjusted diluted earnings per share, compared to $50 million, or $0.68 of adjusted diluted earnings per share, in the same period last year.
Adjusted EBITDA was $127 million, compared to $111 million in the second quarter of fiscal year 2021. The increase in adjusted EBITDA was driven primarily by higher sales volumes and pricing actions, partially offset by higher steel and freight costs. Adjusted EBITDA margin decreased to 11.0 percent compared to 11.3 percent in the same period last year. The decrease in adjusted EBITDA margin was driven primarily by higher net steel and freight costs which unfavorably impacted the conversion on sales.
Cash used for operating activities was $17 million in the second quarter of fiscal year 2022, compared to cash provided by operating activities of $63 million in the second quarter of fiscal year 2021. The decrease in operating cash flow year over year was driven primarily by an increase in working capital requirements.
Commercial Truck sales for the second quarter of fiscal year 2022 were $938 million, up $161 million, or approximately 21 percent, compared to the same period last year. The increase in sales was primarily driven by higher truck production in most global markets and pricing actions.
Segment adjusted EBITDA for Commercial Truck was $78 million, up $5 million, compared to the second quarter of fiscal year 2021. The increase in segment adjusted EBITDA was driven primarily by higher sales volumes, partially offset by higher net steel and freight costs. Segment adjusted EBITDA margin was 8.3 percent in the second quarter of fiscal year 2022, compared to 9.4 percent in the same period of the prior year. The decrease in segment adjusted EBITDA margin was primarily driven by higher net steel and freight costs which unfavorably impacted the conversion on sales.
Aftermarket & Industrial sales for the second quarter of fiscal year 2022 were $262 million, up $15 million, or 6 percent, from the same period a year ago. The increase in sales in the second quarter of 2022 was primarily due to pricing actions.
Segment adjusted EBITDA for Aftermarket & Industrial was $44 million, up $10 million, compared to the second quarter of fiscal year 2021. Segment adjusted EBITDA margin was 16.8 percent in the second quarter of fiscal year 2022, compared to 13.8 percent in the same period of the prior year. The increase in segment adjusted EBITDA and segment adjusted EBITDA margin was primarily driven by pricing actions, partially offset by higher freight costs.
In the second fiscal quarter of 2022, the company announced the planned acquisition of Meritor by Cummins. The Hart-Scott-Rodino (HSR) antitrust waiting period expired on April 6, 2022. A special shareholder meeting will be held on May 26, 2022 seeking the approval of Meritor's shareholders for the proposed transaction.
"I am extremely proud of the team's outstanding performance in the second quarter," said Chris Villavarayan, CEO and president of Meritor. "Despite severe macro headwinds, we continue to deliver strong financial results. In addition, we expect the Cummins transaction to close by year-end, subject to all closing conditions being met."
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. With more than a 110-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers around the world. Meritor is based in Troy, Michigan, United States, and is made up of approximately 9,600 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 19 countries. Meritor common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at www.meritor.com.
This release contains statements relating to future results of the company (including certain outlooks, projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "estimate," "should," "are likely to be," "will" and similar expressions. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement pursuant to which the company would become a wholly owned subsidiary of Cummins Inc. (the "Merger"); the failure to obtain approval for the Merger from the company's shareholders, the failure to obtain certain required regulatory approvals or the failure to satisfy any of the other closing conditions to the completion of the Merger within the expected timeframes or at all; risks related to disruption of management's attention from ongoing business operations due to the Merger; the effect of the announcement of the Merger on the ability to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom the company does business, or on operating results and business generally; the ability to meet expectations regarding the timing and completion of the Merger; the duration and severity of the COVID-19 pandemic and its effects on public health, the global economy and financial markets, as well as our industry, customers, operations, workforce, supply chains, distribution systems and demand for our products; the ongoing conflict between Russia and Ukraine; reliance on major OEM customers and possible negative outcomes from contract negotiations with our major customers, including failure to negotiate acceptable terms in contract renewal negotiations and our ability to obtain new customers; the outcome of actual and potential product liability, warranty and recall claims; our ability to successfully manage rapidly changing volumes in the commercial truck markets and work with our customers to manage demand expectations in view of rapid changes in production levels; global economic and market cycles and conditions; availability and sharply rising costs of raw materials, including steel, transportation and labor, and our ability to manage or recover such costs; technological changes in our industry as a result of the trends toward electrified drivetrains and the integration of advanced electronics and their impact on the demand for our products and services; our ability to manage possible adverse effects on European markets or our European operations, or financing arrangements related thereto in the event one or more countries exit the European monetary union; risks inherent in operating abroad (including foreign currency exchange rates, restrictive government actions regarding trade, implications of foreign regulations relating to pensions and potential disruption of production and supply due to terrorist attacks or acts of aggression); risks related to our joint ventures; the ability to achieve the expected benefits of strategic initiatives and restructuring actions; the demand for commercial and specialty vehicles for which we supply products; whether our liquidity will be affected by declining vehicle production in the future; OEM program delays; demand for and market acceptance of new and existing products; successful development and launch of new products; labor relations of our company, our suppliers and customers, including potential disruptions in supply of parts to our facilities or demand for our products due to work stoppages; the financial condition of our suppliers and customers, including potential bankruptcies; possible adverse effects of any future suspension of normal trade credit terms by our suppliers; potential impairment of long-lived assets, including goodwill; potential adjustment of the value of deferred tax assets; competitive product and pricing pressures; the amount of our debt; our ability to continue to comply with covenants in our financing agreements; our ability to access capital markets; credit ratings of our debt; the outcome of existing and any future legal proceedings, including any proceedings or related liabilities with respect to environmental, asbestos-related, or other matters; rising costs of pension benefits; possible changes in accounting rules; and other substantial costs, risks and uncertainties, including but not limited to those detailed in our Annual Report on Form 10-K for the year ended September 30, 2021 and from time to time in other filings of the company with the SEC. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.
All earnings per share amounts are on a diluted basis. The company's fiscal year ends on the Sunday nearest Sept. 30, and its fiscal quarters generally end on the Sundays nearest Dec. 31, March 31 and June 30. All year and quarter references relate to the company's fiscal year and fiscal quarters, unless otherwise stated.
In addition to the results reported in accordance with accounting principles generally accepted in the United States ("GAAP"), we have provided information regarding non-GAAP financial measures. These non-GAAP financial measures include adjusted income (loss) from continuing operations attributable to the company, adjusted diluted earnings (loss) per share from continuing operations, adjusted EBITDA, adjusted EBITDA margin, segment adjusted EBITDA, segment adjusted EBITDA margin, free cash flow and free cash flow conversion.
Adjusted income (loss) from continuing operations attributable to the company and adjusted diluted earnings (loss) per share from continuing operations are defined as reported income (loss) from continuing operations and reported diluted earnings (loss) per share from continuing operations before restructuring expenses, asset impairment charges and other special items as determined by management. Adjusted EBITDA is defined as income (loss) from continuing operations before interest, income taxes, depreciation and amortization, non-controlling interests in consolidated joint ventures, loss on sale of receivables, restructuring expenses, asset impairment charges and other special items as determined by management. Adjusted EBITDA margin is defined as adjusted EBITDA divided by consolidated sales from continuing operations. Segment adjusted EBITDA is defined as income (loss) from continuing operations before interest expense, income taxes, depreciation and amortization, noncontrolling interests in consolidated joint ventures, loss on sale of receivables, restructuring expense, asset impairment charges and other special items as determined by management. Segment adjusted EBITDA excludes unallocated legacy and corporate expense (income), net. Segment adjusted EBITDA margin is defined as segment adjusted EBITDA divided by consolidated sales from continuing operations, either in the aggregate or by segment as applicable. Free cash flow is defined as cash flows provided by (used for) operating activities less capital expenditures. Free cash flow conversion is defined as free cash flow over adjusted income from continuing operations attributable to the company. Beginning in the second quarter of fiscal year 2021, the company no longer includes an adjustment for non-cash tax expense related to the use of deferred tax assets in jurisdictions with net operating loss carryforwards or tax credits in adjusted income (loss) from continuing operations attributable to the company and adjusted diluted earnings (loss) per share from continuing operations.
Management believes these non-GAAP financial measures are useful to both management and investors in their analysis of the company's financial position and results of operations. In particular, adjusted EBITDA, adjusted EBITDA margin, segment adjusted EBITDA, segment adjusted EBITDA margin, adjusted income (loss) from continuing operations attributable to the company, adjusted diluted earnings (loss) per share from continuing operations and free cash flow conversion are meaningful measures of performance to investors as they are commonly utilized to analyze financial performance in our industry, perform analytical comparisons, measure value creation, benchmark performance between periods and measure our performance against externally communicated targets.
Free cash flow is used by investors and management to analyze our ability to service and repay debt and return value directly to shareholders. Free cash flow conversion is a specific financial measure of our M2022 plan used to measure the company's ability to convert earnings to free cash flow and provides useful information about our ability to achieve strategic goals.
Management uses the aforementioned non-GAAP financial measures for planning and forecasting purposes, and segment adjusted EBITDA is also used as the primary basis for the Chief Operating Decision Maker ("CODM") to evaluate the performance of each of our reportable segments.
Our Board of Directors uses adjusted EBITDA margin, free cash flow, adjusted diluted earnings (loss) per share from continuing operations and free cash flow conversion as key metrics to determine management's performance under our performance-based compensation plans, provided that, solely for this purpose, adjusted diluted earnings (loss) per share from continuing operations also includes an adjustment for the use of deferred tax assets in jurisdictions with net operating loss carryforwards or tax credits.
Adjusted income (loss) from continuing operations attributable to the company, adjusted diluted earnings (loss) per share from continuing operations, adjusted EBITDA, adjusted EBITDA margin, segment adjusted EBITDA, segment adjusted EBITDA margin and free cash flow conversion should not be considered a substitute for the reported results prepared in accordance with GAAP and should not be considered as an alternative to net income or cash flow conversion calculations as an indicator of our financial performance. Free cash flow and free cash flow conversion should not be considered a substitute for cash provided by (used for) operating activities, or other cash flow statement data prepared in accordance with GAAP, or as a measure of financial position or liquidity. In addition, these non-GAAP cash flow measures do not reflect cash used to repay debt or cash received from the divestitures of businesses or sales of other assets and thus do not reflect funds available for investment or other discretionary uses. These non-GAAP financial measures, as determined and presented by the company, may not be comparable to related or similarly titled measures reported by other companies. Set forth below are reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP.
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SOURCE Meritor, Inc. | https://www.whsv.com/prnewswire/2022/05/03/meritor-reports-second-quarter-fiscal-year-2022-results/ | 2022-05-03T12:12:14Z |
NEW YORK, May 3, 2022 /PRNewswire/ -- Macquarie Infrastructure Holdings, LLC (NYSE: MIC) (the "Company") today announced its financial and operational results from continuing operations for the first quarter of 2022.
"Our financial results in the first quarter of 2022 reflect positive trends in the number of visitors to Hawaii which contributed to an increase in the volume of gas sold by Hawaii Gas," said Christopher Frost, chief executive officer of MIC.
In June 2021, the Company entered into a merger agreement with an entity managed by Argo Infrastructure Partners, LP.
"We have received all the approvals other than that from the Hawaii Public Utilities Commission relating to completing the proposed merger. We continue to expect to receive the remaining approval and to conclude the transaction in the first half of 2022," Frost added. "If the merger is concluded on or prior to July 1, 2022, unitholders will receive consideration of $3.83 per unit in cash. If the merger is concluded after July 1, 2022, unitholders will receive $4.11 per unit in cash."
Financial and Operational Results
MIC's results from continuing operations in the first quarter of 2022 reflect improved operating conditions driven by the increase in the number of visitors to Hawaii relative to COVID-induced lows in 2020. The number of visitors to Hawaii in the first quarter increased to approximately 79% of pre-pandemic levels. The increase drove hotel occupancy and restaurant patronage higher and consequently gas sales by Hawaii Gas.
The volume of gas sold by Hawaii Gas in the first quarter increased 11% versus the first quarter in 2021 (the "prior corresponding period") but was 13% below the level recorded in the first quarter of 2019 prior to the pandemic. The financial impact of the increase in gas sales was partially offset by a higher average wholesale cost of Liquified Petroleum Gas distributed by the business.
MIC recorded net income from continuing operations of $11.4 million in the first quarter compared with a net loss of $6.3 million in the prior comparable period.
The Company reported Adjusted EBITDA excluding non-cash items from continuing operations of $9.3 million in the first quarter versus $12.1 million in the prior comparable period.
MIC used $4.5 million of cash in operating activities during the first quarter compared with use of $12.9 million in the prior comparable period.
The Company reported Adjusted Free Cash Flow from continuing operations of $3.4 million in the first quarter versus $9.6 million in the prior comparable period.
Summary Financial Information
About MIC
MIC owns and operates businesses providing energy services, production and distribution in Hawaii. For additional information, please visit the MIC website at www.macquarie.com/mic.
Use of Non-GAAP Measures
Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") excluding non-cash items and Free Cash Flow
In addition to MIC's results under U.S. GAAP, the Company uses the non-GAAP measures EBITDA excluding non-cash items and Free Cash Flow to assess the performance and prospects of its business.
MIC measures EBITDA excluding non-cash items as a reflection of its ability to effectively manage the volume of products sold, the operating margin earned on those transactions and the management of operating expenses independent of its capitalization and tax position.
The Company believes investors use EBITDA excluding non-cash items primarily as a measure of its operating performance and to make comparisons with the operating performance of other businesses whose depreciation and amortization expense may vary from MIC's, particularly where acquisitions and other non-operating factors are involved. MIC defines EBITDA excluding non-cash items as net income (loss) or earnings — the most comparable GAAP measure — before interest, taxes, depreciation and amortization and non-cash items including impairments, unrealized derivative gains and losses, adjustments for other non-cash items and pension expense reflected in the statements of income (loss). Other non-cash items, net, excludes the adjustment to bad debt expense related to the specific reserve component, net of recoveries. EBITDA excluding non-cash items also excludes base management fees and performance fees, if any, whether paid in cash or units.
MIC defines Free Cash Flow as cash from operating activities — the most comparable GAAP measure — less maintenance capital expenditures and adjusted for changes in working capital.
Management uses Free Cash Flow as a measure of its ability to fund acquisitions, invest in growth projects, to reduce or repay indebtedness, and/or to return capital to unitholders. GAAP metrics such as net income (loss) do not provide MIC management with the same level of visibility into the performance and prospects of the business as a result of: (i) the capital intensive nature of its operations and the generation of non-cash depreciation and amortization; (ii) units issued to the Company's external manager under the Management Services Agreement, (iii) the Company's ability to defer all or a portion of current federal income taxes; (iv) non-cash mark-to-market adjustment of the value of derivative instruments; (v) gains (losses) related to the write-off or disposal of assets or liabilities, (vi) non-cash compensation expense incurred in relation to the incentive plans for senior management of the Company's operating business; and (vii) pension expense. Pension expenses primarily consist of interest expense, expected return on plan assets, and amortization of actuarial and performance gains and losses. Any cash contributions to pension plans are reflected as a reduction in Free Cash Flow and are not included in pension expense. Management believes that external consumers of its financial statements, including investors and research analysts, could use Free Cash Flow to assess the Company's ability to fund acquisitions, invest in growth projects, reduce or repay indebtedness, and/or return capital to unitholders.
Management believes that both EBITDA excluding non-cash items and Free Cash Flow support a more complete and accurate understanding of the financial and operating performance of its business than would otherwise be achieved using GAAP results alone.
Free Cash Flow does not take into consideration required payments on indebtedness and other fixed obligations or other cash items that are excluded from MIC's definition of Free Cash Flow. Management notes that Free Cash Flow may be calculated differently by other companies thereby limiting its usefulness as a comparative measure. Free Cash Flow should be used as a supplemental measure to help understand MIC's financial performance and not in lieu of its financial results reported under GAAP.
See the tables below for a reconciliation of Net Income (Loss) to EBITDA excluding non-cash items from continuing operations and a reconciliation of cash used in operating activities from continuing operations to Free Cash Flow from continuing operations.
Classification of Maintenance Capital Expenditures and Growth Capital Expenditures
MIC categorizes capital expenditures as either maintenance capital expenditures or growth capital expenditures. As neither maintenance capital expenditure nor growth capital expenditure is a GAAP term, the Company has adopted a framework to categorize specific capital expenditures. In broad terms, maintenance capital expenditures primarily maintain MIC's current levels of operations, capability, profitability, or cash flow, while growth capital expenditures primarily provide new or enhanced levels of operations, capability, profitability, or cash flow. Management considers various factors in determining whether a specific capital expenditure will be classified as maintenance or growth.
MIC does not bifurcate specific capital expenditures into growth and maintenance components. Each discrete capital expenditure is considered within the above framework and the entire capital expenditure is classified as either maintenance or growth.
Disclaimer on Forward Looking Statements
This communication contains forward-looking statements. The Company may, in some cases, use words such as "project," "believe," "anticipate," "plan," "expect," "estimate," "intend," "should," "would," "could," "potentially," "may," or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements include, among others, those concerning the Company's expected financial performance and strategic and operational plans, statements regarding the proposed sale of the Company and the anticipated uses of any proceeds therefrom, the completion of the sale of the Company or the termination of the sale effort, statements regarding the anticipated specific and overall impacts of the COVID-19 pandemic, as well as all assumptions, expectations, predictions, intentions, or beliefs about future events. Forward-looking statements in this communication are subject to a number of risks and uncertainties, some of which are beyond the Company's control, including, among other things: changes in general economic or business conditions; the ongoing impact of the COVID-19 pandemic; the Company's ability to complete the announced sale; uncertainties as to the timing of the consummation of the proposed transaction; the risk that conditions to closing of the proposed transaction are not satisfied, including the failure to timely obtain the requisite approvals or regulatory clearances; the occurrence of any event giving rise to a termination of the proposed transaction; the Company's ability to service, comply with the terms of and refinance debt; its ability to retain or replace qualified employees; in the absence of a sale, its ability to complete growth projects, deploy growth capital and manage growth, make and finance future acquisitions and implement its strategy; the regulatory environment; demographic trends; the political environment; the economy, tourism, construction and transportation costs; air travel; environmental costs and risks; fuel and gas and other commodity costs; the Company's ability to recover increases in costs from customers; cybersecurity risks; work interruptions or other labor stoppages; risks associated with acquisitions or dispositions; litigation risks; reliance on sole or limited source suppliers, risks or conflicts of interests involving the Company's relationship with the Macquarie Group; and changes in U.S. federal tax law. These and other risks and uncertainties are described under the caption "Risk Factors" in Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and in its other reports filed from time to time with the SEC.
The Company's actual results, performance, prospects, or opportunities could differ materially from those expressed in or implied by the forward-looking statements. Additional risks of which the Company is not currently aware could also cause its actual results to differ. In light of these risks, uncertainties, and assumptions, you should not place undue reliance on any forward-looking statements. The forward-looking events discussed in this press release may not occur. These forward-looking statements are made as of the date of this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Macquarie Infrastructure Holdings, LLC | https://www.whsv.com/prnewswire/2022/05/03/mic-reports-first-quarter-2022-financial-operational-results/ | 2022-05-03T12:12:15Z |
FINDLAY, Ohio, May 3, 2022 /PRNewswire/ --
- Reported first-quarter net income attributable to MPLX of $825 million and
adjusted EBITDA attributable to MPLX of $1.4 billion - Generated $1.1 billion in net cash provided by operating activities
- Returned over $850 million in capital to unitholders through distributions and unit repurchases
- Expanded our methane emissions intensity reduction target to 75% by 2030
MPLX LP (NYSE: MPLX) today reported first-quarter 2022 net income attributable to MPLX of $825 million, compared to $739 million for the first quarter of 2021. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) attributable to MPLX was $1,393 million, compared with $1,352 million in the first quarter of 2021.
The Logistics and Storage (L&S) segment income from operations was $763 million for the first quarter of 2022, compared with $723 million for the first quarter of 2021. Segment adjusted EBITDA for the first quarter of 2022 was $904 million, compared with $896 million for the first quarter of 2021.
The Gathering and Processing (G&P) segment income from operations was $297 million for the first quarter of 2022, compared with $251 million for the first quarter of 2021. Segment adjusted EBITDA for the first quarter of 2022 was $489 million, compared with $456 million for the first quarter of 2021.
During the quarter, MPLX generated $1,125 million in net cash provided by operating activities, $1,210 million of distributable cash flow, and free cash flow after distributions of $92 million. MPLX announced a first-quarter 2022 distribution of $0.7050 per common unit, resulting in coverage ratio of 1.65x for the quarter and a leverage ratio of 3.7x.
"MPLX's free cash flow generation enabled the return of over $850 million of capital to unitholders through both distributions and unit repurchases," said Michael J. Hennigan, MPLX chairman, president, and chief executive officer. "We are advancing several organic growth projects focused on expansions and de-bottlenecking. These actions will continue to support the growth of MPLX, allowing our business to generate free cash flow and return capital to unitholders."
L&S segment income from operations for the first quarter of 2022 increased by $40 million compared to the same period in 2021, while segment adjusted EBITDA for the first quarter of 2022 increased by $8 million compared to the same period in 2021.
Total pipeline throughputs were 5.3 million barrels per day (bpd) in the first quarter, 4% higher than the same quarter of 2021. The average tariff rate was $0.89 per barrel for the quarter, a decrease of 1% versus the same quarter of 2021. Terminal throughput was 2.9 million bpd for the quarter, an increase of 13% versus the same quarter of 2021.
G&P segment income from operations for the first quarter of 2022 increased by $46 million compared to the first quarter of 2021. Adjusted EBITDA for the first quarter of 2022 increased by $33 million compared to the same period in 2021, primarily as a result of higher natural gas liquids prices.
In the first quarter of 2022:
- Gathered volumes averaged 5.3 billion cubic feet per day (bcf/d), a 4% increase from the first quarter of 2021.
- Processed volumes averaged 8.3 bcf/d, a 1% decrease versus the first quarter of 2021.
- Fractionated volumes averaged 526 thousand bpd, a 6% decrease versus the first quarter of 2021.
In the Marcellus:
- Gathered volumes averaged 1.3 bcf/d in the first quarter, a 1% increase versus the first quarter of 2021.
- Processed volumes averaged 5.5 bcf/d in the first quarter, a 3% decrease versus the first quarter of 2021.
- Fractionated volumes averaged 468 thousand bpd in the first quarter, a 4% decrease versus the first quarter of 2021.
MPLX continues to advance several projects focused on expansions and de-bottlenecking of MPLX's existing assets.
In the L&S segment, crude gathering infrastructure continues to be added in the Permian and Bakken regions along with expanding crude and natural gas long-haul pipelines supporting these regions. In the G&P segment, construction continues on our 200 million cubic feet per day Torñado-2 processing plant in the Delaware basin, which is expected to come online in the second half of 2022. In the Marcellus, the 68,000 barrel per day Smithburg de-ethanizer is progressing and is expected to come online in the second half of 2022 as well.
MPLX continues to evaluate opportunities to expand its logistics footprint to meet the needs of today and participate in an energy-diverse future.
As of March 31, 2022, MPLX had $42 million in cash, $3.5 billion available on its bank revolving credit facility, and $1.2 billion available through its intercompany loan agreement with Marathon Petroleum Corp. (MPC). MPLX's leverage ratio was 3.7x.
On March 14, 2022, MPLX issued $1.5 billion in aggregate principal amount of 4.950% senior notes due 2052.
The partnership repurchased $100 million of common units held by the public in the first quarter of 2022. As of March 31, 2022, MPLX had approximately $237 million remaining available under the current $1 billion unit repurchase authorization.
MPLX remains committed to maintaining an investment-grade credit profile.
At 1:00 p.m. ET today, MPLX will hold a conference call and webcast to discuss the reported results and provide an update on operations. Interested parties may listen by visiting MPLX's website at www.mplx.com. A replay of the webcast will be available on MPLX's website for two weeks. Financial information, including this earnings release and other investor-related materials, will also be available online prior to the conference call and webcast at www.mplx.com.
MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.MPLX.com
Kristina Kazarian, Vice President
Jamie Madere, Manager
Isaac Feeney, Analyst
Jamal Kheiry, Communications Manager
In addition to our financial information presented in accordance with U.S. generally accepted accounting principles (GAAP), management utilizes additional non-GAAP measures to facilitate comparisons of past performance and future periods. This press release and supporting schedules include the non-GAAP measures adjusted EBITDA; consolidated debt to last twelve months adjusted EBITDA, which we refer to as our leverage ratio; distributable cash flow (DCF); distribution coverage ratio; and free cash flow (FCF) and free cash flow after distributions. The amount of adjusted EBITDA and DCF generated is considered by the board of directors of our general partner in approving the Partnership's cash distribution. Adjusted EBITDA and DCF should not be considered separately from or as a substitute for net income, income from operations, or cash flow as reflected in our financial statements. The GAAP measures most directly comparable to adjusted EBITDA and DCF are net income and net cash provided by operating activities. We define Adjusted EBITDA as net income adjusted for (i) depreciation and amortization; (ii) provision/benefit for income taxes; (iii) interest and other financial costs; (iv) impairment expense; (v) income/loss from equity method investments; (vi) distributions and adjustments related to equity method investments; (vii) noncontrolling interests and (xiii) other adjustments as deemed necessary. In general, we define DCF as adjusted EBITDA adjusted for (i) deferred revenue impacts; (ii) sales-type lease payments, net of income; (iii) net interest and other financial costs; (iv) net maintenance capital expenditures; (v) equity method investment capital expenditures paid out; and (vi) other adjustments as deemed necessary.
The Partnership makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is outstanding, changes in the fair value of the derivative are recorded as an unrealized gain or loss. When a derivative contract matures or is settled, the previously recorded unrealized gain or loss is reversed and the realized gain or loss of the contract is recorded.
Adjusted EBITDA is a financial performance measure used by management, industry analysts, investors, lenders, and rating agencies to assess the financial performance and operating results of our ongoing business operations. Additionally, we believe adjusted EBITDA provides useful information to investors for trending, analyzing and benchmarking our operating results from period to period as compared to other companies that may have different financing and capital structures.
DCF is a financial performance measure used by management as a key component in the determination of cash distributions paid to unitholders. We believe DCF is an important financial measure for unitholders as an indicator of cash return on investment and to evaluate whether the partnership is generating sufficient cash flow to support quarterly distributions. In addition, DCF is commonly used by the investment community because the market value of publicly traded partnerships is based, in part, on DCF and cash distributions paid to unitholders.
FCF and free cash flow after distributions are financial performance measures used by management in the allocation of capital and to assess financial performance. We believe that unitholders may use this metric to analyze our ability to manage leverage and return capital. We define FCF as net cash provided by operating activities adjusted for (i) net cash used in investing activities; (ii) cash contributions from MPC; (iii) cash contributions from noncontrolling interests and (iv) cash distributions to noncontrolling interests. We define free cash flow after distributions as FCF less base distributions to common and preferred unitholders.
Distribution coverage ratio is a financial performance measure used by management to reflect the relationship between the partnership's financial operating performance and cash distribution capability. We define the distribution coverage ratio as the ratio of DCF attributable to GP and LP unitholders to total GP and LP distributions declared.
Leverage ratio is a liquidity measure used by management, industry analysts, investors, lenders and rating agencies to analyze our ability to incur and service debt and fund capital expenditures.
This press release contains forward-looking statements regarding MPLX LP (MPLX). These forward-looking statements may relate to, among other things, MPLX's expectations, estimates and projections concerning its business and operations, financial priorities, including with respect to positive free cash flow and distribution coverage, strategic plans, capital return plans, operating cost and capital expenditure reduction objectives, and environmental, social and governance goals. You can identify forward-looking statements by words such as "anticipate," "believe," "commitment," "could," "design," "estimate," "expect," "forecast," "goal," "guidance," "imply," "intend," "may," "objective," "opportunity," "outlook," "plan," "policy," "position," "potential," "predict," "priority," "project," "proposition," "prospective," "pursue," "seek," "should," "strategy," "target," "will," "would" or other similar expressions that convey the uncertainty of future events or outcomes. MPLX cautions that these statements are based on management's current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of MPLX, that could cause actual results and events to differ materially from the statements made herein. Factors that could cause MPLX's actual results to differ materially from those implied in the forward-looking statements include but are not limited to: the continuance or escalation of the military conflict between Russia and Ukraine, and related sanctions; general economic, political or regulatory developments, including inflation, changes in governmental policies relating to refined petroleum products, crude oil, natural gas or NGLs, or taxation; the magnitude, duration and extent of future resurgences of the COVID-19 pandemic and its effects; the adequacy of capital resources and liquidity, including the availability of sufficient free cash flow from operations to pay distributions and to fund future unit repurchases; the ability to access debt markets on commercially reasonable terms or at all; the timing and extent of changes in commodity prices and demand for crude oil, refined products, feedstocks or other hydrocarbon-based products; changes to the expected construction costs and timing of projects and planned investments, the availability of desirable strategic initiatives to optimize portfolio assets and the ability to obtain regulatory and other approvals with respect thereto; accidents or other unscheduled shutdowns affecting our machinery, pipelines, processing, fractionation and treating facilities or equipment, means of transportation, or those of our suppliers or customers; the suspension, reduction or termination of MPC's obligations under MPLX's commercial agreements; other risk factors inherent to MPLX's industry; the impact of adverse market conditions or other similar risks to those identified herein affecting MPC; and the factors set forth under the heading "Risk Factors" in MPLX's and MPC's Annual Reports on Form 10-K for the year ended Dec. 31, 2021, and in other filings with Securities and Exchange Commission (SEC).
Any forward-looking statement speaks only as of the date of the applicable communication and we undertake no obligation to update any forward-looking statement except to the extent required by applicable law.
Copies of MPLX's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC's website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office. Copies of MPC's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC's website, MPC's website at https://www.marathonpetroleum.com/Investors/ or by contacting MPC's Investor Relations office.
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SOURCE MPLX LP | https://www.whsv.com/prnewswire/2022/05/03/mplx-lp-reports-first-quarter-2022-financial-results/ | 2022-05-03T12:12:23Z |
AI-enabled CVD prevention program delivered through One Drop's digital health platform appears in the Apps category of Fast Company's 2022 World Changing Ideas List
NEW YORK, May 3, 2022 /PRNewswire/ -- One Drop, a leader in precision health solutions for people living with diabetes and other chronic conditions, today announced that it has been selected as an honorable mention as part of Fast Company's 2022 World Changing Ideas Awards for its AI-enabled cardiovascular disease (CVD) prevention program. Now in its sixth year, the World Changing Ideas Awards showcase products, concepts, companies, policies, and designs that pursue innovation for the good of society and the planet.
The novel program for CVD prevention is available via One Drop's digital health platform (iOS and Android); it seeks to remove barriers to care access while lowering healthcare costs tied to preventable chronic conditions like heart disease. Participants receive personalized support through a holistic set of tools, including connected medical devices, AI-powered health predictions and trends, one-on-one coaching, and an interactive learning experience grounded in behavioral science. The award-winning program was made possible by the strategic partnership between One Drop and Bayer. To accomplish this innovation, each brought their respective expertise to jointly bridge the gap between healthcare and technology.
"At One Drop, we exercise a data-driven, personalized, and proactive approach that empowers people with diabetes and other chronic conditions to take ownership of their health," said Jeff Dachis, One Drop CEO and founder. "With unencumbered, real-time access to our own health information and the foresight to avoid problems before they happen, everyone can more consistently engage in behaviors that drive cost-saving outcomes and improve overall well-being instead of relying solely on the break-fix cycle of traditional healthcare."
"Bayer aims to empower people to drive their own health toward better outcomes and enable healthcare providers to reach a better health population based on data-driven approaches, said Jeanne Kehren, Ph.D., Head of Digital & Commercial Innovation and member of the Pharmaceuticals Executive Committee of Bayer AG. "One Drop is a fascinating example of using the power of data, behavioral sciences, medical and scientific knowledge to create an individual person-centric health picture. We're honored to have co-developed an app which is included on such an esteemed list that showcases some of the world's most inventive ideas."
To date, One Drop has gathered over 38 billion longitudinal health data points from approximately 1.5 million members worldwide. These aggregated and de-identified data train the proprietary machine learning algorithms behind the precision health company's CE-marked analysis engines for glucose forecasts and blood pressure insights, long-term outcomes forecasting for diabetes-related biomarkers, and predictive capabilities for people using continuous glucose monitors (CGM).
Next, One Drop plans to enter the continuous health sensing market with a proprietary sensor currently in development designed to give members access to real-time health data. This proprietary sensor remains subject to regulatory approval, including approval by the U.S. Food and Drug Administration (FDA).
More than 60 peer-reviewed clinical studies, publications, and presentations demonstrate the results and clinical strengths of One Drop's digital health platform, including improved health outcomes (e.g., up to 1.9% reduction in eA1C in three months) and estimated cost savings of up to $2,450 per person per year. Pending regulatory approval and commercial adoption, One Drop believes that the integration of its proprietary sensor and existing digital solution should augment these proven outcomes and yearly cost savings for those living with diabetes and other chronic conditions—a population that now represents six in 10 U.S. adults.
Notable industry accolades for One Drop include ranking on the NYC Digital Health 100 and Deloitte Technology Fast 500. Headquartered in New York, with offices in Texas and California, One Drop is also independently recognized as one of the best places to work in New York City and Austin.
About One Drop
One Drop is a precision health company combining continuous diagnostics, predictive analytics and machine learning in an award-winning digital solution to deliver cost-saving outcomes for people living with diabetes and other chronic conditions. The goal: empower everyone to take proactive action for better health, peak performance, and more fulfilling lives. Bluetooth glucose meter kit, on-demand testing supplies, and other One Drop products and services are available for purchase in the One Drop app (iOS and Android) and at onedrop.today, Walmart, Amazon, BestBuy, the Apple Store, and CVS. A sensor with continuous glucose sensing capabilities is in development and subject to regulatory approval.
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SOURCE One Drop | https://www.whsv.com/prnewswire/2022/05/03/one-drop-recognized-by-fast-company-2022-world-changing-ideas-awards/ | 2022-05-03T12:12:30Z |
NEW YORK, May 3, 2022 /PRNewswire/ -- Paramount Global (NASDAQ: PARA, PARAA) today announced financial results for the first quarter ended March 31, 2022. Please visit the Paramount investor relations website at ir.paramount.com to view the press release and other earnings material.
The company will conduct a conference call at 8:30 a.m. (ET) today, and a live audio webcast will be available on Paramount's Investor Relations homepage.
The call can also be accessed by dialing 844-200-6205 (domestic) or 929-526-1599 (international) using access code 041459. Please call five minutes in advance to ensure that you are connected prior to the call.
An audio replay of the call will be available beginning at 11:30 a.m. (ET) on May 3, in the Events, Webcasts & Annual Meetings section of Paramount's Investors homepage, and at 866-813-9403 using access code 337748.
About Paramount
Paramount Global (NASDAQ: PARA, PARAA) is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic studios, networks and streaming services, Paramount's portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV and Simon & Schuster, among others. Paramount delivers the largest share of the U.S. television audience and boasts one of the industry's most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, the company provides powerful capabilities in production, distribution, and advertising solutions.
For more information about Paramount, please visit www.paramount.com and follow @Paramount on social platforms.
PARA-IR
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SOURCE Paramount Global | https://www.whsv.com/prnewswire/2022/05/03/paramount-global-reports-first-quarter-financial-results/ | 2022-05-03T12:12:37Z |
ROSH HA'AYIN, Israel, May 3, 2022 /PRNewswire/ -- Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ: PTNR) (TASE: PTNR), a leading Israeli communications operator, announced today that the Company's financial results for the quarter ended March 31, 2022 will be released on Tuesday, May 24, 2022.
The Company will host a conference call to discuss its financial results on Tuesday, May 24, 2022 at 10.00 a.m. Eastern Time / 5.00 p.m. Israel Time.
Please dial the following numbers (at least 10 minutes before the scheduled time) in order to participate:
International: +972.3.918.0687
North America toll-free: +1.888.281.1167
A live webcast of the call will also be available on Partner's Investors Relations website at: http://www.partner.co.il/en/Investors-Relations/lobby
If you are unavailable to join live, the replay of the call will be available from May 24, 2022 until June 7, 2022, at the following numbers:
International: +972.3.925.5921
North America toll-free: +1.888.254.7270
In addition, the archived webcast of the call will be available on Partner's Investor Relations website at the above address for approximately three months.
About Partner Communications
Partner Communications Company Ltd. is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet and television services). Partner's ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).
For more information about Partner see: http://www.partner.co.il/en/Investors-Relations/lobby
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SOURCE Partner Communications Company Ltd. | https://www.whsv.com/prnewswire/2022/05/03/partner-communications-release-first-quarter-2022-results-may-24-2022/ | 2022-05-03T12:12:43Z |
Acquires Hyundai and Genesis Brands
BLOOMFIELD HILLS, Mich., May 3, 2022 /PRNewswire/ -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced that it has acquired Terry Lee Hyundai and Genesis of Noblesville, Indiana, increasing the Company's presence in the Indianapolis metropolitan market. Terry Lee Hyundai was recognized by Automotive News as a Best Dealership to Work for in 2020 and was named as a 2020 Top Work Places by The Indianapolis Star. The acquisition is expected to generate annualized revenue of $80 million.
Commenting on the acquisition, Chair and CEO Roger Penske, said, "We are pleased to add the Hyundai and Genesis brands to our existing Honda and Chevrolet footprint in the Indianapolis metropolitan market, and welcome their employees to our team. We look to enhance the strong legacy of these dealerships while building additional scale in this important market for Penske Automotive Group."
The addition of the Hyundai and Genesis dealerships brings total expected acquired annualized revenue in 2022 to approximately $745 million.
Penske Automotive Group, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers. PAG operates dealerships principally in the United States, the United Kingdom, Germany, Italy, and Japan and is the largest retailer of commercial trucks in North America for Freightliner. PAG also distributes and retails commercial vehicles, diesel and gas engines, power systems and related parts and services principally in Australia and New Zealand. Additionally, PAG owns 28.9% of Penske Transportation Solutions, a business that manages a fleet of over 373,000 vehicles providing innovative transportation, supply chain and technology solutions to North American fleets. PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes, and is ranked among the World's Most Admired Companies by Fortune Magazine. For additional information, visit the company's website at www.penskeautomotive.com.
Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.'s financial performance, acquisitions, and growth plans. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others, the duration, severity, and resolution of the COVID-19 pandemic, government mandated restrictions on our business in light of COVID-19 or otherwise, economic and geo-political conditions generally, conditions in the credit markets, inflation, changes in interest rates and foreign currency exchange rates, changes in tariff rates, changes in the distribution model in our international operations via agency or other means, adverse conditions affecting a particular manufacturer, including the adverse impact to the vehicle and parts supply chain due to limited vehicle availability due to the COVID-19 pandemic, the war in the Ukraine, the shortage of automotive semiconductor chips or other components, natural disasters, recall or other disruptions that interrupt the supply of vehicles or parts to us, changes in consumer credit availability, the outcome of legal and administrative matters, and other factors over which management has limited control. These forward-looking statements should be evaluated together with additional information about Penske Automotive Group's business, markets, conditions, and other uncertainties, which could affect Penske Automotive Group's future performance. These risks and uncertainties are addressed in Penske Automotive Group's Form 10-K for the year ended December 31, 2021, and its other filings with the Securities and Exchange Commission ("SEC"). This press release speaks only as of its date, and Penske Automotive Group disclaims any duty to update the information herein.
Inquiries should contact:
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SOURCE Penske Automotive Group, Inc. | https://www.whsv.com/prnewswire/2022/05/03/penske-automotive-group-expands-presence-indianapolis/ | 2022-05-03T12:12:50Z |
SAN DIEGO, May 3, 2022 /PRNewswire/ -- On May 24, 2022, at approximately 7:30 a.m. Eastern Time, Petco Health and Wellness Company, Inc. (Nasdaq: WOOF), a complete partner in pet health and wellness, will release its first quarter 2022 earnings results. Additionally, Petco executives will host a conference call at 8:30 a.m. Eastern Time to review the company's financial and operating performance.
The call will be webcast live and the earnings release will be available on the company's Investor Relations page at ir.petco.com. A replay of the webcast will be available 24 hours a day, beginning two hours after the conference call, until approximately 5 p.m. Eastern Standard Time on June 7, 2022, through the company's Investor Relations page.
Founded in 1965, Petco is a category-defining health and wellness company focused on improving the lives of pets, pet parents and our own Petco partners. We've consistently set new standards in pet care while delivering comprehensive pet wellness products, services and solutions, and creating communities that deepen the pet-pet parent bond. We operate more than 1,500 pet care centers across the U.S., Mexico and Puerto Rico, which offer merchandise, companion animals, grooming, training and a growing network of on-site veterinary hospitals and mobile veterinary clinics. Our complete pet health and wellness ecosystem is accessible through our pet care centers and digitally at petco.com and on the Petco app. In tandem with Petco Love (formerly the Petco Foundation), an independent nonprofit organization, we work with and support thousands of local animal welfare groups across the country and, through in-store adoption events, we've helped find homes for more than 6.5 million animals.
WOOF-F
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MARLBOROUGH, Mass., May 3, 2022 /PRNewswire/ -- Phio Pharmaceuticals Corp. (Nasdaq: PHIO), a clinical stage biotechnology company developing the next generation of therapeutics based on its proprietary self-delivering RNAi (INTASYL™) therapeutic platform, announced today that it will present a trial-in-progress poster at the 2022 American Society of Clinical Oncology (ASCO) annual meeting, which is being held June 3-7, 2022 in Chicago, IL. ASCO is the largest cancer meeting in the world, bringing together thousands of cancer experts from academia, industry, patient advocacy and policy.
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About Phio Pharmaceuticals Corp.
Phio Pharmaceuticals Corp. (Nasdaq: PHIO) is a clinical stage biotechnology company developing the next generation of immuno-oncology therapeutics based on its self-delivering RNAi (INTASYL™) therapeutic platform. The Company's efforts are focused on silencing tumor-induced suppression of the immune system through its proprietary INTASYL platform with utility in immune cells and the tumor microenvironment. The Company's goal is to develop powerful INTASYL therapeutic compounds that can weaponize immune effector cells to overcome tumor immune escape, thereby providing patients a powerful new treatment option that goes beyond current treatment modalities. For additional information, visit the Company's website, www.phiopharma.com.
Contact Phio Pharmaceuticals Corp.
ir@phiopharma.com
Investor Contact
Ashley R. Robinson
LifeSci Advisors
arr@lifesciadvisors.com
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SOURCE Phio Pharmaceuticals Corp. | https://www.whsv.com/prnewswire/2022/05/03/phio-pharmaceuticals-announces-trial-in-progress-poster-asco-2022/ | 2022-05-03T12:13:05Z |
Phylum manages the risk of using untrusted, open-source libraries; enables security teams and developers to innovate at speed
EVERGREEN, Colo., May 3, 2022 /PRNewswire/ -- Today, Phylum announces $15 million in Series A funding. The round is led by ClearSky, with contributions from Atlassian Ventures, SixThirty Ventures, First In™ and TechOperators.
"It is incredibly validating to have ClearSky and Atlassian join our mission to defend the open-source ecosystem so organizations can continue to leverage the benefits of open-source software securely and efficiently," said Peter Morgan, co-founder and president of Phylum.
Phylum was founded in 2020 by Aaron Bray, Louis Lang and Peter Morgan, who are all career security researchers and developers with an accomplished history in cyber offense. Experienced in both commercial and government sectors, the team observed the rise in open-source usage and associated risk in the software supply chain, and created Phylum to combat the threats that continue to go unaddressed using traditional methods.
"The explosion in supply chain component compromise has highlighted the need to expand focus beyond known software vulnerabilities. Development and security teams need proactive risk management tools that enable them to identify compromised packages before they are included in mission-critical applications. At ClearSky, we are proud to support Phylum's mission to reshape the space of open-source risk management," said Patrick Heim, Partner and CISO at ClearSky.
Modern software development requires advances beyond software vulnerabilities
Open-source software has enabled developers to accelerate release schedules. DevOps processes assist developers through standards enforcement, testing and build automation. This combination enables automated use of untrusted software via dependencies from unknown authors on the Internet, increasing the security teams' burden to manage risk at the same pace. Recent attacks have shown that we can no longer solely rely on software composition analysis products that are focused on software vulnerabilities in order to defend the complete attack surface of the open-source software supply chain.
Phylum automates the entire process of identifying packages, analyzing the supply chain risk, and categorizing these risks into all five domains: Malicious Code, Vulnerability, License, Author, and Engineering risk. Phylum ingests and analyzes each package as it is published into a package registry, and automates risk analysis and malware detection to convict malicious packages with an average time of 11 minutes. This approach enables the classification and removal of hundreds of unidentified malicious packages and their respective authors, per month.
With the Series A investment and the recent hire of Patrick Sheehan as Chief Revenue Officer, the company plans to grow its go-to-market team and continue the invention of new heuristics and machine learning models to proactively identify risk in open-source packages. With the recent release of version 2.0 of the platform, Phylum's clients continue to bolster their DevSecOps missions.
"Phylum's solution helps technology teams battle the growing number of threats from the software supply chain. We are excited to witness the impact Phylum will have for our 200,000+ Atlassian cloud customers, empowering their teams to focus on the work they love instead of combating security vulnerabilities. Having Phylum in the Atlassian Ventures family is a huge win for development teams everywhere," said Matt Sonefeldt, head of Atlassian Ventures.
Click here to learn more about Phylum and its platform or book a time to chat with us here.
About Phylum
Phylum's mission is to secure the universe of code, starting with the open-source supply chain. With a team of career security researchers and developers with decades of experience in U.S. Intelligence community and commercial sectors, we leverage an offensive-security mindset that enables the best defensive products for our customers. Learn more at https://phylum.io/, read our blog, and follow us on LinkedIn and Twitter.
Media contact: press@phylum.io
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Strategic acquisition enhances product catalog and extends customer reach
IRVING, Texas, and SANTA MONICA, Calif. and SCHAUMBURG, Ill., May 3, 2022 /PRNewswire/ -- PrimeSource Brands ("PrimeSource" or the "Company"), a North American provider of specialty branded residential building products backed by Clearlake Capital Group, L.P. ("Clearlake"), announced today that it has acquired Axxis, LLC ("Axxis"), a provider of fastening tools and collated fasteners. The transaction is PrimeSource's fourth acquisition during Clearlake's ownership. Financial terms were not disclosed.
Axxis, which goes to market under the Complete and KlinchPak brands, primarily serves STAFDA distribution and packaging houses. The combination with Axxis further enhance PrimeSource's portfolio of branded fasteners and related fastening tools. Carl Schneider, CEO of Axxis, will remain involved as part of the PrimeSource team focused on accelerating Axxis' growth.
"We look forward to enhancing our pneumatic fastener portfolio with the acquisition of Axxis, which will provide both a broader offering to existing customers and entrée to new customer segments for PrimeSource," said Tom Koos, President and CEO of PrimeSource. "We remain committed to delivering the broadest array of value-added products and services to our increasingly diversified customer base."
"We are excited to join the PrimeSource team, and we look forward to leveraging the strengths of their operational expertise to expand and grow the excellent products and services our customers have come to expect from Axxis," said Mr. Schneider. "This is a milestone to be celebrated and we look forward to the next chapter of growth with PrimeSource."
"The acquisition of Axxis represents another successful milestone in our strategy to aggressively grow PrimeSource into a scale branded specialty building products platform," said José E. Feliciano, Co-Founder and Managing Partner, and Colin Leonard, Partner, of Clearlake. "PrimeSource continues to benefit from the favorable residential construction market environment, and we remain excited about the Company's ongoing momentum as a consolidator in this space."
"This transaction further enhances PrimeSource's sales and service offering by adding depth to the Company's product catalogue and expanding its customer reach," said Ben Kruger, Senior Vice President of Clearlake. "We look forward to leveraging our O.P.S.® framework to integrate the platforms and continue driving accelerated growth through both organic and inorganic initiatives."
PrimeSource Brands is a leading national provider of specialty branded residential building products. The Company's product offering spans more than 60,000 SKUs, including construction fasteners, cabinet knobs & pulls, fence & gate hardware, railing systems & infill, perimeter security solutions, among others. PrimeSource Brands operates an expansive footprint, serving over 43,000 customer locations through 56 strategically located distribution centers in 31 states. PrimeSource plays a crucial role for its customers who rely on its brand value, breadth of offering and logistics capabilities. For more information, please visit www.PSBrands.com.
Axxis, LLC., established in January 2008, is home to the Complete and KlinchPak brands and is a highly regarded distributor of third-party fastening tools and fasteners for industrial, packaging, and wood to wood applications. For more information, please visit www.axxisus.com.
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are industrials, technology, and consumer. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.
Media Contacts:
For PrimeSource / Clearlake:
Jennifer Hurson
Lambert & Co.
+1 845-507-0571
jhurson@lambert.com
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SOURCE Clearlake Capital Group; PrimeSource Brands | https://www.whsv.com/prnewswire/2022/05/03/primesource-acquires-axxis-expanding-portfolio-specialty-residential-building-products/ | 2022-05-03T12:13:17Z |
RED BANK, N.J., May 3, 2022 /PRNewswire/ --Provention Bio, Inc. (Nasdaq: PRVB) (the "Company"), a biopharmaceutical company dedicated to intercepting and preventing immune-mediated diseases, today announced that the Company granted stock options to four new employees to purchase an aggregate of 110,000 shares of common stock. The stock options were granted without stockholder approval as inducements, material to the new employees entering into employment with the Company, pursuant to Nasdaq Listing Rule 5635(c)(4) and were approved by the Company's compensation committee of the board of directors.
The stock options were granted with a 10-year term and an exercise price equal to $4.76, the closing price per share of the Company's common stock as reported by Nasdaq on May 2, 2022. Each of the options will vest 25% on the one year anniversary of the grant date and 75% in equal monthly installments thereafter so that the grant is fully vested on the four year anniversary of the grant date, provided that the new employee continues to serve as an employee of, or other service provider to, the Company on each such vesting date. The stock options are subject to the terms of the Provention Bio, Inc. 2020 Inducement Plan.
Provention Bio, Inc. (Nasdaq: PRVB) is a biopharmaceutical company focused on advancing the development of investigational therapies that may intercept and prevent debilitating and life-threatening immune-mediated diseases. The Biologics License Application (BLA) for teplizumab, its lead investigational drug candidate, for the delay of progression to Stage 3 clinical type 1 diabetes in at-risk individuals has been filed by the U.S. Food and Drug Administration (FDA). The Company's pipeline includes additional clinical-stage product candidates that have demonstrated in pre-clinical or clinical studies proof-of-mechanism and/or proof-of-concept in other autoimmune diseases, including celiac disease and lupus. Visit www.ProventionBio.com for more information and follow us on Twitter: @ProventionBio.
Provention Bio, Inc. uses its website, www.proventionbio.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation F.D. Such disclosures will be included on the Company's website in the "News" section. Accordingly, investors should monitor this portion of the Company's website, in addition to following its press releases, SEC filings and public conference calls and webcasts.
Robert Doody, VP of Investor Relations
rdoody@proventionbio.com
484-639-7235
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NET LOSS OF <$0.01 PER SHARE DRIVEN BY MARK TO MARKET ADJUSTMENTS
NON-GAAP OPERATING EARNINGS OF $1.33 PER SHARE
CEO Leadership Succession to Begin September 1
Re-Affirms 2022 Non-GAAP Operating Earnings Guidance of $3.35 - $3.55 per Share
NEWARK, N.J., May 3, 2022 /PRNewswire/ -- Public Service Enterprise Group (NYSE: PEG) reported a Net Loss of $2 million, or less than $0.01 per share for the first quarter of 2022, compared to Net Income of $648 million, or $1.28 per share, in the first quarter of 2021. The Net Loss reported for the first quarter of 2022 reflects $674 million of reconciling items, which are predominantly mark to market adjustments that are routinely excluded from non-GAAP Operating Earnings as shown in Attachments 7 and 8. Non-GAAP Operating Earnings for the first quarter of 2022 were $672 million, or $1.33 per share, compared to non-GAAP Operating Earnings of $650 million, or $1.28 per share in the first quarter of 2021.
Ralph Izzo, chair, president and chief executive officer said, "Our non-GAAP results for the first quarter reflect solid utility and nuclear operations and rate base growth from regulated investments, as well as lower cost resulting from the completed sale of PSEG Fossil that will benefit first-half 2022 comparisons."
On April 19, Ralph Izzo announced his retirement from PSEG. Izzo continued, "It has been an honor and a privilege to serve as CEO for the last 15 years. I started at PSEG 30 years ago and I have always endeavored to put the company and the communities we serve on a sustainable path. I am proud that PSEG is shaping a future where customers use less energy, the energy they use is cleaner than ever before, and delivered with reliability unsurpassed in our history, while adding shareholder value."
As part of a planned leadership succession, the PSEG Board of Directors elected Ralph LaRossa, PSEG's chief operating officer, as president and chief executive officer effective September 1, 2022. Izzo will serve as executive chair of the board effective September 1 until his retirement from PSEG on December 31, 2022, in support of a smooth transition. LaRossa will assume the additional responsibilities of chair of the board on January 1, 2023.
The following tables provide a reconciliation of PSEG's Net Income/(Loss) to non-GAAP Operating Earnings for the first quarter. See Attachments 7 and 8 for a complete list of items excluded from Net Income/(Loss) in the determination of non-GAAP Operating Earnings.
Ralph Izzo added, "We are re-affirming our 2022 non-GAAP Operating Earnings guidance of $3.35 - $3.55 per share. Our regulated investment programs are producing predictable utility growth, and the Conservation Incentive Program (CIP) is effectively minimizing variations on electric and gas revenues from the rollout of our energy efficiency programs and other impacts such as weather. We are on track to execute PSE&G's $2.9 billion, 2022 capital spending plan, part of PSEG's five-year, $15 billion to $17 billion capital plan through 2025, with over 90% directed toward PSE&G."
Financial Results and Outlook
PSE&G
For the first quarter of 2022, PSE&G Net Income rose by $32 million, or by 6.7%, compared with first quarter 2021 results. PSE&G's first quarter 2022 non-GAAP Operating Earnings improved driven by revenue growth from ongoing capital investment programs. Compared to the first quarter of 2021, Transmission was $0.03 per share unfavorable, reflecting the August 2021 implementation of a new Transmission formula rate, including a lower return on equity, partly offset by growth in rate base. For distribution, Gas margin improved by $0.08 per share over first quarter 2021, half of which was driven by the scheduled recovery of investments made under Gas System Modernization Program II, with the balance reflecting growth in the number of gas customers, and the true up from the Conservation Incentive Program. Electric margin rose by $0.02 per share compared to the first quarter of 2021, also reflecting a higher number of customers and the implementation of the CIP mechanism. Other margin, primarily related to appliance service, was $0.02 per share favorable compared with the first quarter of 2021.
O&M expense was $0.02 per share unfavorable compared with first quarter 2021, reflecting timing and various costs. Higher depreciation expense reduced results by $0.01 per share reflecting higher plant in service. Lower pension expense added $0.01 per share compared to first quarter 2021. In addition, the impact of PSEG's $500 million share repurchase had a $0.01 per share benefit in the first quarter of 2022. Flow through taxes and other items had a net unfavorable impact of $0.01 per share compared to first quarter 2021, driven by the use of an annual effective tax rate that will reverse over the remainder of the year.
Winter weather in the first quarter of 2022 (measured by heating degree-days) was slightly colder than normal. As a result of implementing the CIP in 2021, variations in weather (positive or negative) have a limited impact on electric and gas margins while enabling the widespread adoption of PSE&G's energy efficiency programs. For the trailing 12-months ended March 31, weather-normalized electric and gas sales reflected lower Residential (lower by 4.8% and 3.2%, respectively) and higher Commercial and Industrial (higher by 3.3% and 2.8%, respectively) sales, as more people return to work outside the home. Growth in the number of electric and gas customers remained positive by approximately 1% during the trailing 12-month period.
In November 2021, PSE&G filed an Infrastructure Advancement Program to invest $848 million in last mile reliability and electric vehicle make-ready infrastructure. This filing is currently pending before the New Jersey Board of Public Utilities (BPU). Consistent with the procedural schedule in this case, settlement discussions currently are taking place, and final action from the BPU is anticipated in the fall.
PSE&G invested approximately $656 million during the first quarter and is on track to execute its planned 2022 capital investment program of $2.9 billion. The 2022 capital spending program includes infrastructure upgrades to its transmission and distribution facilities, as well as the continued rollout of the Clean Energy Future investments in energy efficiency, energy cloud (smart meters) and electric vehicle charging infrastructure.
PSE&G's forecast of Net Income for 2022 is unchanged at $1,510 million - $1,560 million.
PSEG Carbon-Free, Infrastructure & Other
Carbon-Free, Infrastructure & Other (CFIO) reported a Net Loss of $511 million ($1.02 per share) for the first quarter of 2022 and non-GAAP Operating Earnings of $163 million ($0.32 per share). This compares to first quarter 2021 Net Income of $171 million and non-GAAP Operating Earnings of $173 million, which included results of the divested fossil assets.
For the first quarter of 2022, electric gross margin declined by $0.27 per share, primarily due to the absence of Solar Source and the completed sale of the 6,750 MW fossil portfolio in February 2022. This reduction in gross margin also includes recontracting approximately 8 TWh of nuclear generation at a $3/MWh lower average price. Higher margins from Gas Operations of $0.04 per share compared favorably with the year-earlier quarter.
Year over year cost comparisons were better by $0.21 per share due to the divestitures, driven by lower O&M, depreciation and interest expense that will mainly benefit first-half 2022 results. The third and fourth quarters of 2021 reflected the sale of Solar Source in June, the cessation of fossil depreciation from August onward, and the retirement of PSEG Power's outstanding debt in October.
Taxes and other was a favorable $0.01 per share comparison versus first quarter 2021 results. Parent activity was $0.01 per share unfavorable compared with the first quarter 2021, reflecting higher interest expense.
Nuclear generating output increased by over 2% to 8.4 TWh, reflecting the absence of the coast-down to Hope Creek's Spring 2021 refueling. The full availability of Hope Creek during the first quarter of 2022 helped the nuclear fleet operate at a capacity factor of 100% for the first quarter. PSEG is forecasting generation output of 21 to 23 TWh for the remaining quarters of 2022, and has hedged approximately 95% - 100% of this production at an average price of $28 per MWh. For 2023, PSEG is forecasting nuclear baseload output of 30 to 32 TWh and has hedged 95% - 100% of this output at an average price of $30 per MWh. For 2024, PSEG is forecasting nuclear baseload output of 29 to 31 TWh and has hedged 50% - 55% of this output at an average price of $31 per MWh.
The forecast of non-GAAP Operating Earnings for Carbon-Free, Infrastructure & Other is unchanged at $170 million - $220 million. The CFIO guidance for 2022 excludes results related to the fossil assets sold in February 2022. All free cash flow generated from the fossil operations prior to the closing were translated into an adjustment to the final purchase price.
Recent Financing Activity
In March 2022, PSEG and PSEG Power consolidated their revolving credit agreements into a master credit facility with total borrowing capacity of $2.75 billion. PSE&G expanded its existing revolving credit agreement to provide for $1 billion of credit capacity. Both facilities are extended through March 2027. As of March 31, PSEG's total available credit capacity was $3.2 billion, in addition to approximately $1.6 billion of cash and short-term investments on PSEG's balance sheet inclusive of $910 million at PSE&G.
PSEG Power had net cash collateral postings of $1.5 billion at March 31 related to out-of–the-money hedge positions from higher energy prices during the first quarter of 2022. Collateral postings have continued to increase subsequent to March 31, as power prices continued to rise. At the end of April, PSEG Power had net cash collateral postings of $2.6 billion. The majority of this collateral relates to hedges in place through the end of 2023 and is expected to be returned as PSEG Power satisfies its obligations under those contracts.
In March 2022, PSEG Power closed on a $1.25 billion, variable rate 3-year term loan. PSE&G issued its first "Green Bond" in March 2022, $500 million of Secured Medium-Term Notes due 2032, under PSEG's new Sustainable Financing Framework. Subsequent to March 31, PSEG entered into a $1.5 billion, variable rate term loan.
PSEG will host a conference call to review its First Quarter 2022 results with the financial community at 11AM EDT today. This event can be accessed by visiting https://investor.pseg.com/investor-news-and-events to register.
Public Service Enterprise Group Inc. (PSEG) (NYSE: PEG) is a publicly traded diversified energy company with approximately 12,500 employees. Headquartered in Newark, N.J., PSEG's principal operating subsidiaries are: Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island. PSEG is a Fortune 500 company included in the S&P 500 Index and has been named to the Dow Jones Sustainability Index for North America for 14 consecutive years. (https://corporate.pseg.com).
Non-GAAP Financial Measures
Management uses non-GAAP Operating Earnings in its internal analysis, and in communications with investors and analysts, as a consistent measure for comparing PSEG's financial performance to previous financial results. Non-GAAP Operating Earnings exclude the impact of returns (losses) associated with the Nuclear Decommissioning Trust (NDT), Mark-to-Market (MTM) accounting and material one-time items.
See Attachments 7 and 8 for a complete list of items excluded from Net Income/(Loss) in the determination of non-GAAP Operating Earnings. The presentation of non-GAAP Operating Earnings is intended to complement, and should not be considered an alternative to the presentation of Net Income/(Loss), which is an indicator of financial performance determined in accordance with GAAP. In addition, non-GAAP Operating Earnings as presented in this release may not be comparable to similarly titled measures used by other companies.
Due to the forward looking nature of non-GAAP Operating Earnings guidance, PSEG is unable to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure. Management is unable to project certain reconciling items, in particular MTM and NDT gains (losses), for future periods due to market volatility.
Forward-Looking Statements
Certain of the matters discussed in this report about our and our subsidiaries' future performance, including, without limitation, future revenues, earnings, strategies, prospects, consequences and all other statements that are not purely historical constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such statements are based on management's beliefs as well as assumptions made by and information currently available to management. When used herein, the words "anticipate," "intend," "estimate," "believe," "expect," "plan," "should," "hypothetical," "potential," "forecast," "project," variations of such words and similar expressions are intended to identify forward-looking statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Other factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are discussed in filings we make with the United States Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K and subsequent reports on Form 10-Q and Form 8-K. These factors include, but are not limited to:
- any inability to successfully develop, obtain regulatory approval for, or construct transmission and distribution, and solar and wind generation projects;
- the physical, financial and transition risks related to climate change, including risks relating to potentially increased legislative and regulatory burdens, changing customer preferences and lawsuits;
- any equipment failures, accidents, critical operating technology or business system failures, severe weather events, acts of war, terrorism, sabotage, cyberattack or other incidents that may impact our ability to provide safe and reliable service to our customers;
- any inability to recover the carrying amount of our long-lived assets;
- disruptions or cost increases in our supply chain, including labor shortages;
- any inability to maintain sufficient liquidity or access sufficient capital on commercially reasonable terms;
- the impact of cybersecurity attacks or intrusions or other disruptions to our information technology, operational or other systems;
- the impact of the ongoing coronavirus pandemic;
- failure to attract and retain a qualified workforce;
- inflation, including increases in the costs of equipment, materials, fuel and labor;
- the impact of our covenants in our debt instruments on our business;
- adverse performance of our nuclear decommissioning and defined benefit plan trust fund investments and changes in funding requirements;
- the failure to complete, or delays in completing, the Ocean Wind 1 offshore wind project and the failure to realize the anticipated strategic and financial benefits of this project;
- fluctuations in wholesale power and natural gas markets, including the potential impacts on the economic viability of our generation units;
- our ability to obtain adequate nuclear fuel supply;
- market risks impacting the operation of our nuclear generating stations;
- changes in technology related to energy generation, distribution and consumption and changes in customer usage patterns;
- third-party credit risk relating to our sale of nuclear generation output and purchase of nuclear fuel;
- any inability to meet our commitments under forward sale obligations;
- reliance on transmission facilities to maintain adequate transmission capacity for our nuclear generation fleet;
- the impact of changes in state and federal legislation and regulations on our business, including PSE&G's ability to recover costs and earn returns on authorized investments;
- PSE&G's proposed investment programs may not be fully approved by regulators and its capital investment may be lower than planned;
- the absence of a long-term legislative or other solution for our New Jersey nuclear plants that sufficiently values them for their carbon-free, fuel diversity and resilience attributes, or the impact of the current or subsequent payments for such attributes being materially adversely modified through legal proceedings;
- adverse changes in and non-compliance with energy industry laws, policies, regulations and standards, including market structures and transmission planning and transmission returns;
- risks associated with our ownership and operation of nuclear facilities, including increased nuclear fuel storage costs, regulatory risks, such as compliance with the Atomic Energy Act and trade control, environmental and other regulations, as well as financial, environmental and health and safety risks;
- changes in federal and state environmental laws and regulations and enforcement;
- delays in receipt of, or an inability to receive, necessary licenses and permits; and
- changes in tax laws and regulations.
All of the forward-looking statements made in this report are qualified by these cautionary statements and we cannot assure you that the results or developments anticipated by management will be realized or even if realized, will have the expected consequences to, or effects on, us or our business, prospects, financial condition, results of operations or cash flows. Readers are cautioned not to place undue reliance on these forward-looking statements in making any investment decision. Forward- looking statements made in this report apply only as of the date of this report. While we may elect to update forward-looking statements from time to time, we specifically disclaim any obligation to do so, even in light of new information or future events, unless otherwise required by applicable securities laws.
The forward-looking statements contained in this report are intended to qualify for the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
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LEHI, Utah, May 3, 2022 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure® Mattress," will report first quarter 2022 financial results on Tuesday, May 10, 2022, at approximately 4:05 p.m. ET. The Company will hold a conference call that day at 4:30 p.m. ET to review the financial results.
Investors and analysts interested in participating in the call are invited to dial (800) 239-9838 (domestic) or (929) 477-0402 (international) and provide the Conference ID: 6122811. The conference call will also be available to interested parties through a live webcast at investors.purple.com. Please visit the website at least 15 minutes prior to the start of the call to register and download any necessary software.
A telephone replay of the call will be available until May 24, 2022, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the Conference ID: 6122811. Please note participants must enter the conference identification number in order to access the replay. After the conference call, a webcast replay will remain available on the investor relations section of the Company's website for 30 days.
About Purple
Purple is a digitally-native vertical brand with a mission to help improve lives through innovative comfort solutions. We design and manufacture a variety of innovative, premium, branded comfort products, including mattresses, pillows, bedding, frames and more. Our products are the result of over 30 years of innovation and investment in proprietary and patented comfort technologies and the development of our own manufacturing processes. Our proprietary gel technology, GelFlex Grid, is the foundation of many of our comfort products and provides a range of benefits that differentiate our offerings from other competitors' products. We market and sell our products through our direct-to-consumer online channels, traditional retail partners, third-party online retailers and our owned retail showrooms. Visit Purple online at purple.com and "like" Purple on Facebook and "follow" on Instagram.
Investor Contact:
Brendon Frey, ICR
brendon.frey@icrinc.com
203-682-8200
Purple Innovation, Inc.
Gina Balistreri
Senior Public Relations Manager
gina.b@purple.com
414-213-4460
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SOURCE Purple Innovation, Inc. | https://www.whsv.com/prnewswire/2022/05/03/purple-report-first-quarter-2022-results-may-10-2022/ | 2022-05-03T12:13:41Z |
Just one year after successfully demonstrating lab-scale production of human insulin using synthetic biology techniques, rBIO recently concluded a successful optimization project with Washington University in St. Louis, and firms its path toward commercialization and large-scale production.
SAN DIEGO, May 3, 2022 /PRNewswire/ -- rBIO, an early-stage synthetic biology company focused on reducing the cost of increasingly costly biologic therapies, announced refinement of its bacteria-based production of insulin. rBIO's synthetic manufacturing process now yields twice the volume of insulin compared with legacy recombinant manufacturing techniques and positions the company for commercial-scale production of insulin using a proprietary process developed in partnership with Washington University in St. Louis.
This readiness for market positions rBIO for future protein and peptide pipeline candidate development and production. In the near term, rBIO will enter the market sooner than anticipated and will achieve entry with a goal of reducing the cost of prescription insulin by one-third.
rBIO collaborated on this research and development project with Washington University in St. Louis, a team led by Dr. Sergej Djuranovic, associate professor of cell biology and physiology at the university's School of Medicine.
Over the past year, Dr. Djuranovic's team has focused on optimizing and scaling up a proprietary process that applies recent breakthroughs in genetics and synthetic biology science to design new strains of genetically modified bacteria capable of expressing a wide variety of peptide hormones. Earlier, Dr. Djuranovic's laboratory had discovered coding motifs used to decrease the expression of certain proteins in cancer cells. The team leveraged this prior work: focusing on how analogous motifs could increase expression — thereby accelerating rBIO in its quest to increase pharmaceutical yields.
"The production of recombinant proteins has traditionally been complex, expensive, and time-consuming. Being able to show these results opens the possibility to increase production yields and drive down the cost of certain pharmaceutical proteins," said Dr. Djuranovic. "We've begun research into other molecules of interest that may open the door to other verticals in addition to peptide hormones such as insulin."
"The team spent a year determining how much we could increase yields by driving higher expression of insulin. We are thrilled to announce that our process now yields human insulin at twice the rate of legacy recombinant methods," said microbiologist Cameron Owen, the CEO and co-founder of rBIO. "With this type of biological power, we're eager to scale up and commence industrial-scale production — and make this crucial hormone available at a lower cost to the millions of Americans suffering from diabetes."
About rBIO
rBIO Corp. is a biotech startup focused on applications within synthetic biology to reduce the cost of prescription drugs. Our goal is to re-shore insulin manufacturing to the USA and make this crucial hormone available at a lower cost for the millions of Americans suffering from diabetes. rBIO was formed by a team from Johns Hopkins and UCSD, whose backgrounds include genetics, bioengineering, and bioinformatics. Based in San Diego, rBIO is privately funded. For more information, visit rbio.com.
Media contact:
Tim Cox,
ZingPR,
tim@zingpr.com
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SOURCE rBIO Corp. | https://www.whsv.com/prnewswire/2022/05/03/rbio-doubles-insulin-output-over-legacy-manufacturing-methods-putting-company-track-reduce-insulin-costs-by-30/ | 2022-05-03T12:13:47Z |
The recognition and rewards company extends its philosophy of recognizing good into the community with its new monthly grant program.
PROVO, Utah, May 3, 2022 /PRNewswire/ -- Awardco, the employee recognition and rewards company that builds culture through value-driven recognition, announced today that it launched its Goodness Grants program, which is a national philanthropic endeavor that highlights the goodness that people bring to their groups, communities and organizations.
Every month, Awardco will give $1,000 to an individual who is putting good out into the world and is positively impacting a group or community. The person is nominated by their peers; the company then culls through nominations, and a committee selects the final recipient.
The first Goodness Grant beneficiary is Kasey Walkenhurst, the boys' basketball coach for Farmington High School in Farmington, Utah. While Walkenhurst is a wonderful coach and mentor to his players, he was nominated for the Goodness Grant for his role in the community: each year, he leads his team in organizing a basketball game for all of the students with disabilities living in Davis County. His commitment to supporting individuals with disabilities began over ten years ago, and each year, the event brings joy to all involved.
"Goodness Grants deeply reflect who we are at Awardco; we're about recognizing good. And, we didn't want to limit that to the workplace because there is so much good happening all around us — in our neighborhoods, in our communities," said Steve Sonnenberg, Awardco founder and CEO. "Simply, this is about paying it forward. We want to celebrate the individuals who are doing good and making our world a better place. And, given how tumultuous the past couple of years have been, we definitely need more good in our lives. We're excited to kick this program off with Kasey and recognize the good that he does for the Farmington community."
The grant does not need to be connected to work but instead can reflect volunteer efforts or work in the community, for example. Upon receipt of the grant, the awardee does not need to disclose the use of the funds. To nominate someone, visit the Goodness Grants page.
About Awardco
Awardco incentivizes behavior and builds workplace culture through value-driven recognition and rewards. It is the only employee recognition and total rewards platform to partner with Amazon Business to offer the power of Amazon for any size organization's incentive programs. Offering millions of products, hotels through Priceline, event tickets, gift cards, swag, and custom catalogs, Awardco is the largest reward network on the planet — all with zero markups. Coupled with the flexibility to build any number of recognition, incentive, milestone, or behaviorally driven programs, Awardco's platform drives employee loyalty. For more information, visit us online at award.co.
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SOURCE Awardco | https://www.whsv.com/prnewswire/2022/05/03/recognize-good-awardco-kicks-off-its-goodness-grants-program-by-honoring-local-community-leader/ | 2022-05-03T12:13:55Z |
GUELPH, ON, May 3, 2022 /PRNewswire/ -- Recurrent Energy, LLC ("Recurrent"), a wholly owned subsidiary of Canadian Solar Inc. ("Canadian Solar") (NASDAQ: CSIQ), today announced that the Louisiana Public Service Commission (LPSC) has approved a power purchase agreement for the 132 MW dc/ 98 MWac Bayou Galion solar project located in Morehouse Parish in Northeast Louisiana.
The Bayou Galion solar project is expected to start construction and begin operation in 2024. Once in operation, the project is capable of powering more than 18,000 homes annually and offsetting the equivalent of 170 metric tons of CO2 emissions per year.
The Bayou Galion solar project is a part of 1803 Electric Cooperative's ("1803 Electric Coop") recently approved power generation portfolio to supply energy to five Louisiana rural electric cooperatives for the next 20 years. The approved portfolio includes 343 MWac of solar energy, including Recurrent's 98 MWac Bayou Galion solar project, and will significantly increase the amount of solar energy capacity in the state. As of year-end 2021, Louisiana had approximately 200 MW of solar energy installed.
Dr. Shawn Qu, chairman and CEO of Canadian Solar, said, "Solar energy is the lowest cost new energy resource across the U.S. and we are pleased to support 1803 Electric Coop's goals to bring lower rates for its members. We look forward to continuing to advance the development of the Bayou Galion solar project and starting construction in 2024."
LPSC Chairman Craig Greene said at the commission meeting, "1803 followed all of the commission rules and conducted a competitive RFP, whereby 31 bidders put forth 197 qualifying offers. This robust response to 1803's RFP I think is a powerful indication that a broad cross-section of companies want to invest in Louisiana's energy future and deliver lower rates with reliable, flexible options to customers. This is a great day for the state of Louisiana and for this commission."
Charles Hill, General Manager of 1803 Electric Coop, said, "Being able to provide a reduction in future rates for our members is extraordinary. We are pleased to partner with Recurrent Energy, a well-respected solar and energy storage developer, and we look forward to bringing this project online."
LPSC Commissioner Foster Campbell, who represents the parish where the Bayou Galion project will be located, said, "I am confident that 1803's proposal and Recurrent Energy's project will provide reliable and inexpensive power to these Louisiana co-ops for years to come. In addition, Recurrent's Bayou Galion project will bring around 300 construction jobs to our area."
1803 Electric Coop's members serve approximately 120,000 members in Louisiana. ACES administered the selection process for the entire selected and approved power generation portfolio on behalf of 1803 Electric Coop.
About Canadian Solar Inc.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery storage solutions, and developer of utility-scale solar power and battery storage projects with a geographically diversified pipeline in various stages of development. Over the past 20 years, Canadian Solar has successfully delivered over 67 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built and connected over 6.3 GWp in over 20 countries across the world. Currently, the Company has around 445 MWp of solar projects in operation, nearly 6 GWp of projects under construction or in backlog (late-stage), and an additional 18.6 GWp of projects in pipeline (mid- to early- stage). Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com
About Recurrent Energy (Canadian Solar Subsidiary)
Recurrent Energy is a leading utility-scale solar and storage project developer, delivering competitive, clean electricity to large energy buyers. Based in the U.S., Recurrent Energy is a wholly owned subsidiary of Canadian Solar Inc. and functions as Canadian Solar's U.S. project development arm. Recurrent Energy has approximately 5 GW of solar and storage projects in development in the U.S. Additional details are available at www.recurrentenergy.com.
Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business and economic conditions and the state of the solar industry; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Japan, the U.S., India, China and Brazil; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; delays in the process of qualifying to list the CSI Solar subsidiary in the PRC; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; logistical challenges that could increase the selling costs of the Company; exchange rate fluctuations; litigation; potential initiation of an anti-circumvention investigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 28, 2022. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
Canadian Solar Inc. Investor Relations Contacts
Isabel Zhang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com
David Pasquale
Global IR Partners
Tel: +1-914-337-8801
csiq@globalirpartners.com
Recurrent Energy Media Relations Contact
Ally Copple
Innovant Public Relations
Ally@InnovantPR.com
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SOURCE Canadian Solar Inc. | https://www.whsv.com/prnewswire/2022/05/03/recurrent-energy-supports-major-solar-energy-expansion-louisiana-with-132-mwdc-project/ | 2022-05-03T12:14:02Z |
ROCKVILLE, Md., May 3, 2022 /PRNewswire/ -- REGENXBIO Inc. (Nasdaq: RGNX) today announced presentations at the American Society of Gene & Cell Therapy (ASGCT) 25th Annual Meeting, taking place virtually and in Washington, D.C. from May 16 through 19, 2022. The presentations highlight the Company's end-to-end capabilities across research and early development, clinical development and manufacturing.
The presentations will be presented as follows:
Presenter: Nina Hunter, Ph.D., VP, Regulatory and Science Policy at REGENXBIO, Pathway Development Consortium
Session: Accelerated Approval for Gene Therapies
Date/Time: Monday, May 16, 2022, 8:00 a.m. ET
Abstract Title: RGX-121 Gene Therapy for the Treatment of Severe Mucopolysaccharidosis Type II (MPS II): Interim Analysis of Data from the First in Human Study (abstract #52)
Presenter: Roberto Giugliani, M.D., Ph.D., Professor, Department of Genetics, UFRGS, Medical Genetics Service, HCPA, Porto Alegre, Brazil
Session: Gene and Cell Therapy Trials in Progress
Date/Time: Monday, May 16, 2022, 1:30 p.m. ET
Abstract Title: RGX-111 Gene Therapy for the Treatment of Severe Mucopolysaccharidosis Type I (MPS I): Interim Analysis of Data from the First in Human Study (abstract #802)
Presenter: Raymond Wang, M.D., Division of Metabolic Disorders, CHOC Children's Hospital, Department of Pediatrics, University of California, Irvine, CA
Session: Gene and Cell Therapy Trials in Progress
Date/Time: Tuesday, May 17, 2022, 5:30 p.m. ET
Abstract Title: VP1 Unique and VP1/2 Shared Region Serotype Swap Hybrids Enhance Desirable AAV Properties
Presenter: Samantha Yost, Ph.D., Senior Scientist, Gene Transfer Technologies at REGENXBIO & Randy Qian, Ph.D., Scientist I, Gene Transfer Technologies at REGENXBIO (abstract #500)
Session: AAV Vectors - Virology and Vectorology II
Date/Time: Tuesday, May 17, 2022, 5:30 p.m. ET
Abstract Title: A Novel Peptide Insertion into VR-IV or VR-VIII of AAV9 Improves Transduction Strength and Penetration Depth Upon Intravitreal Injection (abstract: #521)
Presenter: Wei-Hua Lee, Ph.D., Scientist II, Target Discovery at REGENXBIO & Samantha Yost, Ph.D., Senior Scientist, Gene Transfer Technologies at REGENXBIO (co-first authors)
Session: AAV Vectors - Preclinical and Proof-of-concept Studies II
Date/Time: Tuesday, May 17, 2022, 5:30 p.m. ET
Abstract Title: Adeno-Associated Virus Adsorption on Different Surfaces Relevant to Production of Pre-Clinical and Clinical Material (abstract #765)
Presenter: Amanda Zhang, Scientific Project Manager, Vector Core at REGENXBIO
Session: Vector Product Engineering, Development or Manufacturing II
Date/Time: Tuesday, May 17, 2022, 5:30 p.m. ET
Abstract Title: Gene Expression from AAV Vectors in the Liver-A Comparative Study Across Species, Promoters and AAV Serotypes (abstract #824)
Presenter: Subha Karumuthil-Melethil, Ph.D., Principal Scientist, Target Discovery at REGENXBIO
Session: AAV Developments in Liver, T-Cells and Toxicity
Date/Time: Wednesday May 18th, 2022, 5:00 p.m. ET
Abstract Title: Intraparenchymal Administration to the Striatum of a Barcoded AAV Library for the Characterization of Capsid Tropisms in Rodents and Non-human Primates (abstract #892)
Presenter: Jared Smith, Ph.D., Principal Scientist, Target Discovery at REGENXBIO
Session: AAV Vectors – Virology and Vectorology III
Date/Time: Wednesday, May 18, 2022, 5:30 p.m. ET
Abstract Title: A Longitudinal, Comparative Analysis of Transgene Expression Durability via Different Promoters in the Striatum of Mice Delivered by Intraparenchymal Injection of rAAV9 (abstract #894)
Presenter: Brad Hollidge, Ph.D., Scientist II, Target Discovery at REGENXBIO
Session: AAV Vectors - Virology and Vectorology III
Date/Time: Wednesday, May 18, 2022, 5:30 p.m. ET
Abstract Title: Stability of Microdystrophin Proteins Measured by Pulse-Chase Assays in Tissue Culture (abstract # 1065)
Presenter: Kirk Elliott, Scientist I, Gene Transfer Technology at REGENXBIO
Session: Musculo-skeletal Diseases
Date/Time: Wednesday, May 18, 2022, 5:30 p.m. ET
Abstract Title: AAV Vectors Consistently Display Higher Transcriptional Activity in MDX Mouse Muscle Versus Normal Mouse Skeletal Muscle (abstract #1063)
Presenter: Randy Qian, Ph.D., Scientist I, Gene Transfer Technologies at REGENXBIO
Session: Musculo-Skeletal Diseases
Date/Time: Wednesday, May 18, 2022, 5:30 p.m. ET
Abstract Title: Recruitment of nNOS and Other Dystrophin-Associated Protein Complex Members by Different Microdystrophin Constructs (abstract #1068)
Presenter: Steven Foltz, Ph.D., Scientist II, Target Discovery at REGENXBIO
Session: Musculo-Skeletal Diseases
Date/Time: Wednesday, May 18, 2022, 5:30 p.m. ET
Abstract Title: Evaluating the Impact of Transgene-Specific CpG Removal on AAV9-Mediated Gene Transfer and Immune Responses in the Balb/C Mouse Strain Provides Novel Insights of CpG Depletion (abstract #1671)
Presenter: Justin Glenn, Ph.D., Senior Scientist, Target Discovery at REGENXBIO
Session: Immunological Aspects of Gene Therapy and Vaccines II
Date/Time: Wednesday, May 18, 2022, 5:30 p.m. ET
Abstract Title: A Novel AAV8-Based Gene Therapy for Duchenne Muscular Dystrophy: Preclinical Studies in the Mdx Mouse (abstract #1067)
Presenter: SunJung Kim, Ph.D., DABT, Senior Scientist, Pharmacology and Toxicology at REGENXBIO
Session: Musculo-skeletal Diseases
Date/Time: Wednesday, May 18, 2022, 5:30 p.m. ET
Abstract Title: Identification and Characterization of an AAV9-Based Engineered Capsid Variant Capable of Mediating Enhanced Transcription in the Central Nervous System of Non-Human Primates and Rodents (abstract #1200)
Presenter: April Giles, Ph.D., Scientist II, Gene Transfer Technologies at REGENXBIO & Samantha Yost, Ph.D., Senior Scientist, Gene Transfer Technologies at REGENXBIO (co-first authors)
Session: Novel AAV Capsids for the Brain, Kidney and Eye
Date/Time: Thursday, May 19, 2022, 11:45 a.m. ET
About REGENXBIO Inc.
REGENXBIO is a leading clinical-stage biotechnology company seeking to improve lives through the curative potential of gene therapy. REGENXBIO's NAV Technology Platform, a proprietary adeno-associated virus (AAV) gene delivery platform, consists of exclusive rights to more than 100 novel AAV vectors, including AAV7, AAV8, AAV9 and AAVrh10. REGENXBIO and its third-party NAV Technology Platform Licensees are applying the NAV Technology Platform in the development of a broad pipeline of candidates in multiple therapeutic areas.
Contacts:
Dana Cormack
Corporate Communications
dcormack@regenxbio.com
Investors:
Chris Brinzey
ICR Westwicke
339-970-2843
chris.brinzey@westwicke.com
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SOURCE REGENXBIO Inc. | https://www.whsv.com/prnewswire/2022/05/03/regenxbio-announces-presentations-american-society-gene-amp-cell-therapy-asgct-25th-annual-meeting/ | 2022-05-03T12:14:10Z |
Leading community bank deepens technology bench to accelerate digital transformation strategy
FAYETTEVILLE, Ark., May 3, 2022 /PRNewswire/ -- Arvest Bank (Arvest), a leading community bank serving retail and emerging businesses, today announced that Richard Pulliam has joined the team as Chief Product and Strategy Officer to advance the company's multi-year growth strategy. Pulliam's focus is to bring new product initiatives to market.
"Richard and I began working together when modern web API's (application programming interfaces) began taking shape and changing the way we do business on the web. He's proven to be an innovator inspired by the impact that technology can bring to financial services," said Arvest's Chief Transformation and Operations Officer, Laura Merling. "His experience constructing embeddable solutions and products will be an advantage to Arvest's aggressive goals across the company. We're thrilled to have him join the Arvest team."
Pulliam has more than two decades of experience in product management, strategy, business development, and international growth and is particularly known for building new digital platform businesses. In his new role, Pulliam will support the company's growth initiatives by developing strategic product offerings that enhance the customer experience for new and existing retail and commercial customers.
"After leading third-party technology platforms used in part by financial service companies to innovate their businesses for the better part of the last 14 years, I am excited to pursue this opportunity to build new transformative products, this time from within the industry itself," Pulliam said. "Arvest's strong internal support system and commitment to investing in people and technology makes them uniquely positioned to drive banking innovation in a way larger banks simply cannot. I look forward to this exciting new chapter at Arvest."
Pulliam joins Arvest from TriNet where he led the strategic development of new technology products as Vice President of Product Management. He spent the majority of his career in Silicon Valley helping tech companies utilize software to transform their businesses and has experience building and scaling products across many industries, including technology (CA Technologies / Broadcom), HR (TriNet) and telcom (Alcatel-Lucent / Nokia).
About Arvest
With more than $26 billion in assets, Arvest Bank is a community-based financial institution serving more than 110 communities in Arkansas, Kansas, Missouri and Oklahoma. Established in 1961, Arvest Bank is committed to meeting the needs of its more than 830,000 retail and business customer households by continually investing in the digital tools and services customers expect. Arvest was recently recognized by J.D. Power for its outstanding mobile banking experience. Its extensive network of more than 200 banking locations provides loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing as a part of its growing list of digital services. Arvest is known for its commitment to the communities it serves and to attracting, hiring and retaining a diverse group of talented people. Arvest is an Equal Housing Lender and Member FDIC. To learn more please visit www.arvest.com.
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SOURCE Arvest Bank | https://www.whsv.com/prnewswire/2022/05/03/richard-pulliam-joins-arvest-bank-chief-product-strategy-officer/ | 2022-05-03T12:14:16Z |
SOUTHLAKE, Texas, May 3, 2022 /PRNewswire/ -- Sabre Corporation ("Sabre") (NASDAQ: SABR) today announced financial results for the quarter ended March 31, 2022. Sabre has posted its first quarter 2022 earnings release, earnings presentation and prepared remarks to its Investor Relations webpage at investors.sabre.com/results.cfm. The earnings release is also available on the Securities and Exchange Commission's website at www.sec.gov.
As previously announced, Sabre will host a live webcast of its first quarter 2022 earnings conference call today at 9:00 a.m. ET. Management will discuss the financial results, as well as comment on the forward outlook. The webcast is expected to last approximately one hour and will be accessible by visiting the Investor Relations section of Sabre's website at investors.sabre.com.
A replay of the event will be available on the website for at least 90 days following the event.
About Sabre Corporation
Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfillment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com.
Website Information
We routinely post important information for investors on the Investor Relations section of our website, investors.sabre.com, and on our Twitter account, @Sabre_Corp. We intend to use the Investor Relations section of our website and our Twitter account as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of our website and our Twitter account, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website or our Twitter account is not incorporated by reference into, and is not a part of, this document.
SABR-F
Contacts
Media
Kristin Hays
kristin.hays@sabre.com
sabrenews@sabre.com
Investors
Kevin Crissey
kevin.crissey@sabre.com
sabre.investorrelations@sabre.com
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SOURCE Sabre Corporation | https://www.whsv.com/prnewswire/2022/05/03/sabres-first-quarter-2022-earnings-materials-available-its-investor-relations-website/ | 2022-05-03T12:14:23Z |
Reported Revenue Increased 18%; Adjusted Pro Forma Revenue Increased 2%
Diluted EPS Increased 43% to $4.47; Adjusted Diluted EPS Increased 0.3% to $2.89
Reported Operating Profit Margin Increased 2,560 Basis Points to 79.2%
Adjusted Pro Forma Operating Profit Margin Decreased 340 Basis Points to 45.2%
Revenue Growth was Driven by Strength Across Five of Six Divisions, Offset by a Sharp Decline in Revenue Related to Debt Issuance
Company is Updating GAAP Guidance and Adjusted Guidance
Merger-Related Divestitures Announced or Completed
NEW YORK, May 3, 2022 /PRNewswire/ -- S&P Global (NYSE: SPGI) today reported first quarter 2022 results with reported revenue of $2.39 billion, an increase of 18% compared to the same period last year. Strong execution drove growth across five of the Company's six divisions, while Ratings transaction revenue was negatively impacted by a sharp year-over-year reduction in debt issuance. GAAP net income increased 64% to $1.24 billion and GAAP diluted earnings per share increased 43% to $4.47 primarily due to the gain on sale of businesses partially offset by the impact of the merger with IHS Markit.
Adjusted pro forma revenue increased 2% compared to the first quarter of 2021. Adjusted pro forma net income declined 1% to $1.01 billion and adjusted pro forma diluted earnings per share increased 0.3% to $2.89 primarily due to a 1% decrease in pro forma fully diluted shares outstanding. The largest adjustments in the first quarter of 2022 were for gains on the sale of divested businesses and costs related to the merger with IHS Markit.
"Our first quarter as a unified company demonstrated the incredible power of the merger of S&P Global with IHS Markit," said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. "Through the combination of our diverse and complementary data, benchmarks, insights, and research, alongside the contribution of our people and technology, we empower our customers to make informed decisions during an especially volatile and uncertain period."
Merger Update: The Company completed its merger with IHS Markit on February 28, 2022. The divestiture of IHS Markit's Base Chemicals business, and S&P Global's LCD business have been announced and are expected to close in the second quarter of 2022. All other divestitures associated with the merger have been successfully completed. The Company has also completed a series of transactions to optimize its capital structure, including refinancing debt at a lower average cost.
Important note on the presentation of financial results and guidance: GAAP financials and guidance are presented to reflect the close of the merger with IHS Markit, and the inclusion of its financial results, as of March 1, 2022. Adjusted financial information and guidance are presented on a pro forma basis as if the merger had closed on January 1, 2021, to include the financial impact in both the first quarter of 2022, and in the comparable year-ago period. Adjusted pro forma financials also exclude the contribution of divested businesses from all presented periods. Additionally, after the merger closed we were able to refine our recast pro forma financials for 2021, which are included in today's amendment to the Form 8-K filed when the merger closed.
Profit Margin: The Company's reported operating profit margin increased 2,560 basis points to 79.2% due to the gain on sale of assets, the inclusion of IHS Markit, and costs associated with the merger. Adjusted pro forma operating profit margin decreased 340 basis points to 45.2% primarily due to declines in Ratings transaction revenue, and a step-up in certain expenses, as well as investments in technology and strategic initiatives. Adjusted pro forma expense growth was temporarily elevated in the first quarter due to the return of in-person events such as CERAWeek, and compensation expenses associated with a re-alignment of the timing of merit increases. The Company expects expense growth (ex-synergies) to moderate through the rest of the year.
Return of Capital: During the first quarter, the combined Company returned $7.3 billion to shareholders through a combination of $7 billion in the form of an accelerated share repurchase (ASR) agreement and $265 million in cash dividends paid by S&P Global and IHS Markit pre-merger. The $7 billion in share repurchases represents the first tranche of an expected $12 billion Accelerated Share Repurchase (ASR) program. The first tranche is expected to be completed in early August, while the remainder of the planned $12 billion is expected to be executed by the end of the year.
Market Intelligence: Reported revenue increased 39% to $727 million in the first quarter of 2022 driven primarily by the inclusion of IHS Markit revenue. Adjusted pro forma revenue increased 7% to $1.02 billion with double-digit growth in Data & Advisory Solutions, and positive growth in Desktop, Credit & Risk Solutions, and Enterprise Solutions. Reported operating profit increased to $1.49 billion and operating profit margin improved 17,390 basis points to 204.7% primarily driven by the gain on the sale of divested businesses, which is recorded as operating income. Adjusted pro forma operating profit increased 5% to $295 million and adjusted pro forma operating profit margin decreased 60 basis points to 29.0% due to investment in technology (primarily cloud transition costs) and strategic initiatives.
Ratings: Reported revenue decreased 15% to $868 million in the first quarter of 2022. Transaction revenue decreased 31% to $404 million. Transaction revenue was negatively impacted by a year-over-year decrease in debt issuance across all categories, but particularly within high-yield, which decreased approximately 68% year-over-year. Non-transaction revenue increased 7% to $464 million due to growth in annual fees, and in CRISIL revenue.
Reported operating profit decreased 25% to $511 million. Operating profit margin decreased 810 basis points to 58.9% compared to the first quarter of 2021 on the combined impact of the decrease in transaction revenue and year-over-year growth in compensation expense from increased headcount and re-alignment in the timing of annual merit increases. Adjusted operating profit decreased 25% to $513 million and adjusted operating profit margin decreased 820 basis points to 59.1%.
Commodity Insights: Reported revenue increased 51% to $363 million in the first quarter of 2022, primarily driven by the inclusion of IHS Markit. Adjusted pro forma revenue increased 14% to $466 million, driven by Advisory & Transactional Services, and strong growth in Price Assessments, and Energy & Resources Data & Insights, offset by a modest decline in Upstream Data & Insights. Reported operating profit increased 18% to $158 million and operating profit margin decreased 1,230 basis points to 43.5% primarily due to the inclusion of IHS Markit. Adjusted pro forma operating profit increased 8% to $200 million and adjusted pro forma operating profit margin decreased 210 basis points to 43.0%. The return of in-person conferences (most notably CERAWeek) was the largest contributor to the increase in adjusted pro forma expenses, and associated decrease in adjusted pro forma operating profit margin.
Mobility: Reported revenue (March 2022 only) was $115 million. Adjusted pro forma revenue increased 10% to $324 million in the first quarter of 2022 with growth driven by strength in Planning Solutions and Used Car offerings. Reported operating profit in the first quarter was $18 million and operating profit margin was 16.1%. Adjusted pro forma operating profit increased 8% to $122 million and adjusted pro forma operating profit margin decreased 80 basis points to 37.8%. Growth in expenses, and the associated decrease in margin, were driven by the continued impact from investments in headcount and advertising spend.
S&P Dow Jones Indices: S&P Dow Jones Indices LLC is a majority-owned subsidiary. The consolidated results are included in S&P Global's income statement and the portion related to the 27% non-controlling interest is removed in net income attributable to non-controlling interests.
Reported revenue increased 19% to $322 million in the first quarter of 2022, primarily due to the inclusion of IHS Markit. Adjusted pro forma revenue increased 14% to $339 million in the first quarter of 2022, driven by strong growth in asset-linked fees and exchange-traded derivative activity.
Reported operating profit increased 17% to $224 million. Operating profit margin decreased 140 basis points to 69.4%. Adjusted pro forma operating profit increased 16% to $235 million. Adjusted pro forma operating profit margin improved 130 basis points to 69.3%, driven by strong revenue growth, partially offset by strategic investments and increased compensation expense. Operating profit attributable to the Company increased 17% to $165 million. Adjusted pro forma operating profit attributable to the Company increased 17% to $176 million.
Engineering Solutions: Reported revenue (March 2022 only) was $33 million. Adjusted pro forma revenue increased 7% to $98 million in the first quarter of 2022 with growth driven by strength in core subscription offerings and non-subscription products. Reported operating profit in the first quarter was $1 million and operating profit margin was 3.8%. Adjusted pro forma operating profit increased 17% to $18 million and adjusted pro forma operating profit margin improved 160 basis points to 18.3%, with expense growth driven by investment in product development and increased royalties.
Corporate Unallocated Expense: Reported Corporate Unallocated Expense of $512 million compares to $86 million of reported Corporate Unallocated Expense in the prior period. Adjusted pro forma Corporate Unallocated Expense was $21 million in the first quarter of 2022, which compares to $43 million in the first quarter of 2021. Adjusted pro forma corporate unallocated expense declined from a year ago, caused by a combination of reduced incentive and fringe costs as well as the release of certain benefits accruals.
Provision for Income Taxes: The Company's effective tax rate (excluding taxes in relation to earnings of unconsolidated subsidiaries) increased to 30.5% in the first quarter of 2022 compared to 23.4% in the same period last year due to tax charges on merger-related divestitures and deal-related non-deductible costs. The adjusted effective tax rate (excluding taxes in relation to earnings of unconsolidated subsidiaries) decreased to 20.1% compared to 23.1% in the same period last year due to tax deductions in relation to stock-based compensation and merger-related optimization of capital and liquidity structure. The Company's effective tax rate may fluctuate from quarter to quarter due to the timing of discrete tax adjustments.
Balance Sheet and Cash Flow: Cash, cash equivalents, and restricted cash at the end of the first quarter were $4.4 billion. In the first three months of 2022, cash provided by operating activities was $222 million, cash provided by investing activities was $2,901 million, and cash used for financing activities was $5,205 million. Free cash flow in the first three months of 2022 was $151 million, a decrease of $530 million compared to the same period in 2021 and pro forma free cash flow excluding certain items was $701 million.
Outlook: The Company is updating both GAAP and adjusted pro forma guidance for 2022 (initially provided on March 1, 2022) to reflect the results of the first quarter, as well as our most recent views on the macro-economic and geopolitical environment. 2022 reported revenue is expected to increase more than 40%, which is the same as previous guidance. GAAP EPS guidance is expected to be in a range of $12.00 to $12.25, compared to previous guidance of $13.40 to $13.60.
The Company is providing updated adjusted guidance on a pro forma basis that excludes merger expenses, and amortization of intangibles related to acquisitions. Adjusted pro forma guidance is provided to reflect expected financial results for the full year, as if the merger with IHS Markit (and associated divestitures) had been completed on January 1, 2021. Adjusted pro forma revenue is now expected to grow low single digits, compared to our prior guidance of mid-single-digit growth. Adjusted pro forma diluted EPS guidance has been updated to a new range of $13.00 to $13.25, from prior guidance of a range of $13.30 to $13.50. Guidance for adjusted pro forma free cash flow excluding certain items has also been updated to a new range of $4.8 billion to $4.9 billion, from the previous guidance range of $4.9 billion to $5.0 billion.
Comparison of Adjusted Information to U.S. GAAP Information: The Company reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). The Company also refers to and presents certain additional non-GAAP financial measures, within the meaning of Regulation G under the Securities Exchange Act of 1934. These measures are: adjusted diluted earnings per share, adjusted net income, adjusted operating profit and margin, organic revenue, adjusted Corporate Unallocated expense, adjusted effective tax rates, adjusted diluted EPS guidance, free cash flow, and free cash flow excluding certain items. The Company has included reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP on Exhibits 5, 6, 7 and 8. Reconciliations of certain forward-looking non-GAAP financial measures to comparable GAAP measures are not available due to the challenges and impracticability with estimating some of the items. The Company is not able to provide reconciliations of such forward-looking non-GAAP financial measures because certain items required for such reconciliations are outside of the Company's control and/or cannot be reasonably predicted. Because of those challenges, reconciliations of such forward-looking non-GAAP financial measures are not available without unreasonable effort.
The Company's non-GAAP measures include adjustments that reflect how management views our businesses. The Company believes these non-GAAP financial measures provide useful supplemental information that, in the case of non-GAAP financial measures other than free cash flow and free cash flow excluding certain items, enables investors to better compare the Company's performance across periods, and management also uses these measures internally to assess the operating performance of its business, to assess performance for employee compensation purposes and to decide how to allocate resources. The Company believes that the presentation of free cash flow and free cash flow excluding certain items allows investors to evaluate the cash generated from our underlying operations in a manner similar to the method used by management and that such measures are useful in evaluating the cash available to us to prepay debt, make strategic acquisitions and investments, and repurchase stock. However, investors should not consider any of these non-GAAP measures in isolation from, or as a substitute for, the financial information that the Company reports.
Conference Call/Webcast Details: The Company's senior management will review the first quarter 2022 earnings results on a conference call scheduled for today, May 3, at 8:30 a.m. EDT. Additional information presented on the conference call may be made available on the Company's Investor Relations Website at http://investor.spglobal.com.
The Webcast will be available live and in replay at http://investor.spglobal.com/Quarterly-Earnings. (Please copy and paste URL into Web browser.)
Telephone access is available. U.S. participants may call (888) 603-9623; international participants may call +1 (630) 395-0220 (long-distance charges will apply). The passcode is "S&P Global" and the conference leader is Douglas Peterson. A recorded telephone replay will be available approximately two hours after the meeting concludes and will remain available until June 2, 2022. U.S. participants may call (800) 570-8796; international participants may call +1 (203) 369-3293 (long-distance charges will apply). No passcode is required.
Forward-Looking Statements: This press release contains "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995. These statements, including statements about COVID-19 and the merger (the "Merger") between a subsidiary of the Company and IHS Markit Ltd. ("IHS Markit"), which express management's current views concerning future events, trends, contingencies or results, appear at various places in this press release and use words like "anticipate," "assume," "believe," "continue," "estimate," "expect," "forecast," "future," "intend," "plan," "potential," "predict," "project," "strategy," "target" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would." For example, management may use forward-looking statements when addressing topics such as: the outcome of contingencies; future actions by regulators; changes in the Company's business strategies and methods of generating revenue; the development and performance of the Company's services and products; the expected impact of acquisitions and dispositions; the Company's effective tax rates; and the Company's cost structure, dividend policy, cash flows or liquidity.
Forward-looking statements are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include, among other things:
- worldwide economic, financial, political and regulatory conditions, and factors that contribute to uncertainty and volatility, natural and man-made disasters, civil unrest, pandemics (e.g., COVID-19), geopolitical uncertainty (including military conflict), and conditions that may result from legislative, regulatory, trade and policy changes;
- the ability of the Company to retain customers and to implement its plans, forecasts and other expectations with respect to IHS Markit's business and realize expected synergies;
- business disruption following the Merger;
- the Company's ability to meet expectations regarding the accounting and tax treatments of the Merger;
- the Company's ability to successfully recover should it experience a disaster or other business continuity problem from a hurricane, flood, earthquake, terrorist attack, pandemic, security breach, cyber attack, data breach, power loss, telecommunications failure or other natural or man-made event, including the ability to function remotely during long-term disruptions such as the ongoing COVID-19 pandemic;
- the Company's ability to maintain adequate physical, technical and administrative safeguards to protect the security of confidential information and data, and the potential for a system or network disruption that results in regulatory penalties and remedial costs or improper disclosure of confidential information or data;
- the outcome of litigation, government and regulatory proceedings, investigations and inquiries;
- the health of debt and equity markets, including credit quality and spreads, the level of liquidity and future debt issuances, demand for investment products that track indices and assessments and trading volumes of certain exchange-traded derivatives;
- the demand and market for credit ratings in and across the sectors and geographies where the Company operates;
- concerns in the marketplace affecting the Company's credibility or otherwise affecting market perceptions of the integrity or utility of independent credit ratings, benchmarks and indices;
- the effect of competitive products and pricing, including the level of success of new product developments and global expansion;
- the Company's exposure to potential criminal sanctions or civil penalties for noncompliance with foreign and U.S. laws and regulations that are applicable in the domestic and international jurisdictions in which it operates, including sanctions laws relating to countries such as Iran, Russia, Sudan, Syria and Venezuela, anti-corruption laws such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act of 2010, and local laws prohibiting corrupt payments to government officials, as well as import and export restrictions;
- the continuously evolving regulatory environment, in Europe, the United States and elsewhere around the globe, affecting S&P Global Ratings, S&P Global Commodities Insights, S&P Dow Jones Indices, S&P Global Market Intelligence, and the products those business divisions offer including our ESG products, and the Company's compliance therewith;
- the Company's ability to make acquisitions and dispositions and successfully integrate the businesses we acquire;
- consolidation in the Company's end-customer markets;
- the introduction of competing products or technologies by other companies;
- the impact of customer cost-cutting pressures, including in the financial services industry and the commodities markets;
- a decline in the demand for credit risk management tools by financial institutions;
- the level of merger and acquisition activity in the United States and abroad;
- the volatility and health of the energy and commodities markets;
- our ability to attract, incentivize and retain key employees, especially in today's competitive business environment;
- the level of the Company's future cash flows and capital investments;
- the impact on the Company's revenue and net income caused by fluctuations in foreign currency exchange rates;
- the Company's ability to adjust to changes in European and United Kingdom markets as the United Kingdom leaves the European Union, and the impact of the United Kingdom's departure on our credit rating activities and other offerings in the European Union and United Kingdom; and
- the impact of changes in applicable tax or accounting requirements on the Company.
The factors noted above are not exhaustive. The Company and its subsidiaries operate in a dynamic business environment in which new risks emerge frequently. Accordingly, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the dates on which they are made. The Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made, except as required by applicable law. Further information about the Company's businesses, including information about factors that could materially affect its results of operations and financial condition, is contained in the Company's filings with the SEC, including Item 1A, Risk Factors, in our most recently filed Annual Report on Form 10-K.
About S&P Global
S&P Global (NYSE: SPGI) provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through ESG and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world.
We are widely sought after by many of the world's leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world's leading organizations plan for tomorrow, today.
Investor Relations: http://investor.spglobal.com
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Contact:
Investor Relations:
Mark Grant
Senior Vice President, Investor Relations
Tel: +1 (347) 640-1521
mark.grant@spglobal.com
Media:
Ola Fadahunsi
Communications
Tel: +1 (332) 210-9935
ola.fadahunsi@spglobal.com
Christopher Krantz
Communications
Tel: +44 7976 632 638
christopher.krantz@spglobal.com
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SOURCE S&P Global | https://www.whsv.com/prnewswire/2022/05/03/sampp-global-reports-revenue-growth-first-quarter-post-merger/ | 2022-05-03T12:14:29Z |
HOLON, Israel, May 3, 2022 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced its financial results for the first quarter ended March 31, 2022.
Summary Results for First Quarter 2022 (USD in millions, except per share data)
"Sapiens started 2022 with solid results in our first quarter that showed non-GAAP revenue of $117.7 million and non-GAAP operating profit margin of 17.6%. This is a reflection of our ability to keep growing while improving profitability," stated Roni Al-Dor, President and CEO of Sapiens.
"Europe and APAC continue to experience growth with new exciting prospects and customers. In North America, we see a positive improvement. We continue to invest in our products, which is reflected in our market brand and pipeline," continued Mr. Al-Dor.
Sapiens reiterated today its revenue guidance of $495 million to $500 million for 2022, along with an increase in its profit margin from a range of 17.0% to 17.3%, to a range of 17.4% to 17.6%.
"Furthermore, Sapiens remains committed to returning value to shareholders," stated Al-Dor.
"We announced today that the board of directors has approved the distribution of a cash dividend of $0.47 per share, or $25.9 million in total – reflecting our continued confidence in our business and Sapiens' ability to generate cash."
The dividend is in line with the Company's policy of distributing up to 40% of its annual non-GAAP net income. The dividend will be paid on May 25, 2022 to Sapiens' shareholders of record as of May 17, 2022.
The dividend is subject to withholding of Israeli tax at source at the rate of 25% of the dividend amount payable to Israeli individual, and to non-Israeli, shareholders of record.
"Moving forward, we have approved a change to our dividend policy, whereby we will pay out dividends on a semi-annual basis, reflecting our confidence in recurring positive cash flow generation," concluded Roni Al-Dor, President & CEO of Sapiens.
Quarterly Results Conference Call
Management will host a conference call and webcast today, May 3, 2022 at 9:30 a.m. Eastern Time (4:30 pm. in Israel) to review and discuss Sapiens' results.
Please call the following numbers (at least 10 minutes before the scheduled time) to participate:
North America (toll-free): + 1-888-642-5032; International: +972-3-918-0609; UK: 0-800-917-5108
The live webcast of the call can be viewed on Sapiens' website at: https://www.sapiens.com/investor-relations/ir-events-presentations. A replay of the call will be available one business day following the completion of the event, at the same link for 90 days.
Non-GAAP Financial Measures
This press release contains the following non-GAAP financial measures: non-GAAP revenue, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income attributed to Sapiens shareholders, non-GAAP basic and diluted earnings per share, Adjusted EBITDA and Adjusted Free Cash-Flow.
Sapiens believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Sapiens' financial condition and results of operations. The Company's management uses these non-GAAP measures to compare the Company's performance to that of prior periods for trend analyses, for purposes of determining executive and senior management incentive compensation and for budgeting and planning purposes. These measures are used in financial reports prepared for management and in quarterly financial reports presented to the Company's board of directors. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends, and in comparing the Company's financial measures with other software companies, many of which present similar non-GAAP financial measures to investors.
Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude: Valuation adjustment on acquired deferred revenue, amortization of capitalized software development and other intangible assets, capitalization of software development, stock-based compensation, compensation related to acquisition and acquisition-related costs, restructuring and cost reduction costs, and tax adjustments related to non-GAAP adjustments.
Management of the Company does not consider these non-GAAP measures in isolation, or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in the Company's financial statements. In addition, they are subject to inherent limitations, as they reflect the exercise of judgment by management about which expenses and income are excluded or included in determining these non-GAAP financial measures.
To compensate for these limitations, management presents non-GAAP financial measures in connection with GAAP results. Sapiens urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures, which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate the Company's business.
Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures used in this press release are included with the financial tables of this release.
The Company defines Adjusted EBITDA as net profit, adjusted to eliminate valuation adjustment on acquired deferred revenue, stock-based compensation expense, depreciation and amortization, capitalization of software development costs, compensation expenses related to acquisition and acquisition-related costs, restructuring and cost reduction costs, financial expense (income), provision for income taxes and other income (expenses). These amounts are often excluded by other companies as well, in order to help investors understand the operational performance of their business.
The Company uses Adjusted EBITDA as a measurement of its operating performance, because it assists in comparing the operating performance on a consistent basis by removing the impact of certain non-cash and non-operating items. Adjusted EBITDA reflects an additional way of viewing aspects of the operations that the Company believes, when viewed with the GAAP results and the accompanying reconciliations to corresponding GAAP financial measures, provide a more complete understanding of factors and trends affecting its business. The Company uses Adjusted Free Cash-Flow as a measurement of its operating performance, and reconciles cash-flow from operating activities to Adjusted Free Cash-Flow, while reducing the amounts for capitalization of software development costs and capital expenditures. The Company adds back cash payments made for former acquisitions in respect of future performance targets and retention criteria as determined upon acquisition date of the respective acquired company, which were included in the cash-flow from operating activities. We believe that Adjusted Free Cash-Flow is useful in evaluating our business, because Adjusted Free Cash-Flow reflects the cash surplus available to fund the expansion of our business.
About Sapiens
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative and agile. Backed by more than 35 years of industry expertise, Sapiens offers a complete insurance platform, with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers' digital transformation. Serving over 600 customers in 30 countries, Sapiens offers insurers across property and casualty, workers compensation and life markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit www.sapiens.com or follow us on LinkedIn.
Forward Looking Statements
Certain matters discussed in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, and are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words "anticipate," "believe," "estimate," "expect," "may," "will," "plan" and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers' systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the recent novel coronavirus pandemic, which adversely affected our results of operations, or fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company. While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading "Risk Factors" in our most recent Annual Report on Form 20-F, which we filed with the SEC on March 31, 2022, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
Debentures Covenants
As of March 31, 2022, Sapiens was in compliance with all of its financial covenants under the indenture for the Series B Debentures, based on having achieved the following in its consolidated financial results:
Covenant 1
- Target shareholders' equity (excluding non-controlling interest): above $120 million.
- Actual shareholders' equity (excluding non-controlling interest) equal to $415.6 million.
Covenant 2
- Target ratio of net financial indebtedness to net capitalization (in each case, as defined under the indenture for the Company's Series B Debentures) below 65%.
- Actual ratio of net financial indebtedness to net capitalization equal to (42.75)%.
Covenant 3
- Target ratio of net financial indebtedness to EBITDA (accumulated calculation for the four last quarters) is below 5.5.
- Actual ratio of net financial indebtedness to EBITDA (accumulated calculation for the four last quarters) is equal to (1.41).
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SOURCE Sapiens International Corporation | https://www.whsv.com/prnewswire/2022/05/03/sapiens-reports-first-quarter-2022-financial-results/ | 2022-05-03T12:14:35Z |
Built on top of the company's digital engagement platform, Sharecare+ is designed to simplify individuals' and families' holistic health experiences, remove barriers to care, improve outcomes, and lower costs
ATLANTA, May 3, 2022 /PRNewswire/ -- Sharecare (Nasdaq: SHCR), the digital health company that helps people manage all their health in one place, today announced Sharecare+, its whole health, payor-agnostic advocacy solution. Seamlessly layered on top of the company's flagship digital engagement platform, Sharecare+ is designed to help health plans and self-insured employers maximize efficiency, productivity, and quality, and reduce cost of care while making members and employees and their families happier, healthier, and more productive.
At its core, Sharecare+ will deliver a highly personalized and simplified holistic health experience by empowering people to access all their well-being resources, health benefits, and comprehensive care navigation in one place, bolstered by additional support from dedicated clinical advocates and tech-enabled, in-home care services. By combining deep expertise in lifestyle and clinical coaching with a robust set of analytics-driven and AI-powered digital capabilities, Sharecare+ identifies the needs of each person across the interconnected elements of their health and well-being – including physical and mental health, financial and social well-being, and other social determinants and factors – to precisely determine opportunities for deeper engagement and risk reduction.
"A formidable next step in our evolution, Sharecare+ is a powerful, insights-driven extension of our enterprise portfolio, designed to deliver concierge-level care to our members while also driving value for employers and payors," said Jeff Arnold, chairman and CEO of Sharecare. "By bringing our uniquely differentiated solution and enhanced experience to market, we are empowering organizations to support their member populations with unmatched compassion, quality, and efficiency through a single digital front door that seamlessly integrates into people's everyday lives, whether they need care in a clinical setting, virtually, or in the comfort of their own home."
In 2021, Sharecare expanded its well-being and health benefits navigation platform by fully integrating a connected suite of virtual care and high-touch offerings, including a library of clinically validated NCQA-accredited digital therapeutics and CareLinx by Sharecare, the company's tech-enabled home health solution. With the introduction of Sharecare+, Sharecare's flagship platform will be further enhanced with 24/7 virtual and telephonic assistance for members from dedicated personal health and clinical advocates – each empowered by advanced analytics and AI-enabled decision support.
"Sharecare+ provides a simplified employee and member experience with one place to go for all your well-being, healthcare, and benefits-related needs," said Jaffry Mohammed, chief operating officer of Sharecare. "By leveraging whole person risk analytics and advanced user segmentation, Sharecare+ brings the precision of engagement through digital and high-touch interventions, including care at home, resulting in both reduced costs and improved clinical outcomes."
The mobile-first Sharecare platform – also available via web app – provides each member on-demand access to resources to manage their well-being including a vast library of engaging and medically validated content, daily health tracking tools, behavioral health programs, and much more. In addition to helping people navigate their benefits, Sharecare+ advocates coordinate care for members across telehealth and virtual primary care, pharmacy care, chronic condition prevention and management programs, digital therapeutics, surgical care, and unique on-demand and tech-enabled in-home care services from CareLinx by Sharecare.
In parallel, the comprehensive care console in Sharecare+ acts as a one-stop shop that empowers advocates with a complete, 360-degree view of each member's health, including key clinical information such as claims data, risk assessment data, benefits eligibility, and healthcare utilization. This will enable clinical advocates to seamlessly guide each member toward relevant programs and offerings, as well as complete tasks on their behalf such as appointment scheduling and prescription management, creating efficiencies that drive improved outcomes and long-term savings in cost of care. The robust analytics capabilities in Sharecare+ will also support employers and payors by delivering population-level engagement insights to inform benefits plan management and drive member satisfaction and employee productivity.
Slated to launch on Jan. 1, 2023, Sharecare+ is commercially available to health plans and self-insured employers that deploy the Sharecare platform, currently representing ten million covered lives in the U.S. To learn more about Sharecare+ and the full suite of enterprise solutions available from Sharecare, please email hello@sharecare.com or stop by Booth #1113 this week at the 2022 National Summit in Orlando, Florida.
About Sharecare
Sharecare is the leading digital health company that helps people – no matter where they are in their health journey – unify and manage all their health in one place. Our comprehensive and data-driven virtual health platform is designed to help people, providers, employers, health plans, government organizations, and communities optimize individual and population-wide well-being by driving positive behavior change. Driven by our philosophy that we are all together better, at Sharecare, we are committed to supporting each individual through the lens of their personal health and making high-quality care more accessible and affordable for everyone. To learn more, visit www.sharecare.com.
Media Relations: Jen Martin Hall, jen@sharecare.com
Investor Relations: Evan Smith, CFA, evan.smith@sharecare.com
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SOURCE Sharecare | https://www.whsv.com/prnewswire/2022/05/03/sharecare-introduces-digital-first-precision-advocacy-solution-efficiently-scale-benefits-navigation-integrated-clinical-care-delivery/ | 2022-05-03T12:14:42Z |
From a 3D printed vaccine patch to an electric truck, a seawater-powered lamp to using data and math to eliminate testing on animals, the sixth annual awards honor the products, concepts, companies, policies and designs that are driving change.
AUSTIN, Texas and BOULDER, Colo., May 3, 2022 /PRNewswire/ -- Smarter Sorting, (https://www.smartersorting.com/), a consumer goods data and sustainability company, was today named Fast Company's 2022 World Changing Ideas award winner in the AI and Data category. The awards honor clean technology, innovations and other creative works that support positive social initiatives, address climate change and public health crises.
Smarter Sorting's nomination highlights how the company's innovations are creating a tangible impact on society and the planet. Smarter Sorting is harnessing its math, chemistry and computing expertise to provide a world-changing idea. The company uses computational toxicology analysis of consumer products to eliminate the need for LC50 testing on fish to determine if a product is toxic.
Now in its sixth year, the World Changing Ideas Awards showcase 39 winners, 350 finalists and more than 600 honorable mentions—with climate, social justice, and AI and data among the most popular categories. A panel of eminent Fast Company editors and reporters selected winners and finalists from a pool of more than 2,997 entries across transportation, education, food, politics, technology, health, social justice, and more. The 2022 awards feature entries from across the globe and will be showcased in Fast Company's Summer 2022 issue (on newsstands May 10, 2022).
"We take our math and data science knowledge seriously. Knowing that we have the ability to do better means we also have the moral imperative to do better," said Jacqueline Claudia, CEO of Smarter Sorting. "Smarter Sorting is focused on the bigger picture and how we can use data and computing for a better world. We can make instant decisions that are accurate and traceable – for example, allowing us to completely replace LC50 animal testing with a data-driven approach."
"We are consistently inspired by the novelty and creativity that people are applying to solve some of our society's most pressing problems, from shelter to the climate crisis. Fast Company relishes its role in amplifying important, innovative work to address big challenges," says David Lidsky, interim editor-in-chief of Fast Company. "Our journalists have identified some of the most ingenious initiatives to launch since the start of 2021, which we hope will both have a meaningful impact and lead others to join in being part of the solution."
About the World Changing Ideas Awards: World Changing Ideas is one of Fast Company's major annual awards programs and is focused on social good, seeking to elevate finished products and brave concepts that make the world better. A panel of judges from across sectors choose winners, finalists, and honorable mentions based on feasibility and the potential for impact. With the goals of awarding ingenuity and fostering innovation, Fast Company draws attention to ideas with great potential and helps them expand their reach to inspire more people to start working on solving the problems that affect us all.
About Smarter Sorting: Based in Boulder, Colo., Austin, Texas, and Los Angeles, Smarter Sorting helps companies make, market and move consumer products better. Its customers include national discount club stores and supermarkets, as well as the brands they sell. The company's customers use its Product Intelligence Platform to gain product insights and identify how to best handle regulated consumer products across the supply chain to remain compliant, avoid fines and reduce their environmental impact. Awards for innovation, impact and employee experience include: Fast Company Most Innovative Companies, Built In Best Place to Work, Real Leader Impact Award and SEAL Sustainable Innovation Award. Smarter Sorting is an Unreasonable Impact company.
www.smartersorting.com
Contact:
Terri Douglas, Catapult
press@smartersorting.com
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SOURCE Smarter Sorting | https://www.whsv.com/prnewswire/2022/05/03/smarter-sorting-named-winner-ai-data-category-fast-companys-2022-world-changing-ideas-awards/ | 2022-05-03T12:14:49Z |
A new spin on three easy Mother's Day recipes that the kids can help prepare
DENVER, May 3, 2022 /PRNewswire/ -- A special gift and a homemade card will always make her smile. Pair that with a delicious meal that she doesn't have to make to give mom the perfect, relaxing Mother's Day treat! After a busy week juggling home life, work, and other projects, it's important to give mom that much-needed break she deserves. That's why Beef. It's What's For Dinner., funded by the Beef Checkoff, is serving up a few beefy recipes that will not only look like you put in the hours to impress, but will taste like you did as well.
Put a flower in a vase, have the kids get the tray ready and surprise mom with this Country Style Waffle Sandwich breakfast in bed. Made with Basic Country Beef Breakfast Sausage, eggs, frozen waffles, and toppings of your choice, this recipe is versatile and takes less than 30 minutes to make. Whether mom loves savory flavors like cheese and salsa or has a sweet tooth and enjoy syrup over her sandwich, this recipe is perfect for letting kids help customize just the way mom likes it.
Another new and innovative twist using beef breakfast sausage are these Beef Sticky Buns. While most people are accustomed to basic cinnamon buns, the protein boost from the breakfast sausage accompanied by other savory ingredients will exceed all expectations or preconceived notions. Using either homemade or premade pizza dough followed by onion, spinach, mushrooms, cheese and jalapeno pepper jelly, this sweet and salty treat is best for brunch or for mom to snack on.
Once the afternoon rolls around it's time to start thinking about dinner, but it can be hard to step away when you're enjoying time with family. That's where this Lazy Beef Lasagna recipe comes into play. Ground beef, prepared pasta sauce, and some extra spices give it that homemade heartiness while frozen ravioli make it quick to assemble and serve. It only takes 15-20 minutes to bake in the oven but if you want to save even more time, you can make it ahead the day before and store it in the fridge. Whatever the family doesn't devour can also be saved for leftovers.
For these and more recipes to beef up Mother's Day, visit BeefItsWhatsForDinner.com.
About the Beef Checkoff
The Beef Checkoff Program was established as part of the 1985 Farm Bill. The Checkoff assesses $1 per head on the sale of live domestic and imported cattle, in addition to a comparable assessment on imported beef and beef products. States may retain up to 50 cents on the dollar and forward the other 50 cents per head to the Cattlemen's Beef Promotion and Research Board, which administers the national checkoff program, subject to USDA approval.
About NCBA, a Contractor to the Beef Checkoff
The National Cattlemen's Beef Association (NCBA) is a contractor to the Beef Checkoff Program. The Beef Checkoff Program is administered by the Cattlemen's Beef Board, with oversight provided by the U.S. Department of Agriculture.
CONTACT: Hailey Thayn, hthayn@beef.org
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SOURCE National Cattlemen's Beef Association | https://www.whsv.com/prnewswire/2022/05/03/spend-day-celebrating-mom-with-unique-hassle-free-recipes-beef-its-whats-dinner/ | 2022-05-03T12:14:56Z |
InSpace implant demonstrated to be a viable option for patients with massive irreparable rotator cuff tears.*
KALAMAZOO, Mich., May 3, 2022 /PRNewswire/ -- Stryker (NYSE: SYK) announced today the publication of results from a multicenter, single-blinded, randomized controlled trial comparing Stryker's InSpace implant with partial repair for the treatment of full-thickness massive irreparable rotator cuff tears (MIRCTs) in the Journal of Bone and Joint Surgery (JBJS).
The comparative study evaluated the efficacy and safety of Stryker's InSpace implant with arthroscopic partial repair in patients with irreparable, posterosuperior MIRCTs.
Results of the two-year study demonstrated the InSpace implant as an appropriate alternative to partial repair in patients with MIRCTs. The study also revealed notable patient benefits including early functional recovery and pain relief combined with a shorter operative time.
MIRCTs are one of the most common causes of shoulder dysfunction.1,2,3 The InSpace balloon implant* is a breakthrough solution in the shoulder continuum of care that addresses MIRCTs and provides a new, simple surgical treatment option, allowing surgeons to better meet the needs of their patients.
"We are excited to see the high-quality data from the U.S. InSpace trial accepted and published by one of the most prestigious orthopaedic journals," said the lead investigator in the clinical study, Nikhil Verma, M.D. "These results demonstrating InSpace as a safe and effective option with earlier functional recovery, pain relief and shorter operative times are helping us change the game in shoulder surgery and creating better care for patients."
The purpose of the Level 1 InSpace pivotal study – a prospective, single-blinded, multi-center, randomized, controlled trial was to assess the safety and effectiveness of the InSpace Implant (IS) compared to Partial Repair (PR). The study evaluated 184 (n=93 IS; n=91 PR) randomized eligible patients with symptomatic massive full thickness rotator cuff tears that failed non-operative management, through 24 months of follow-up. 1
Click here to read the full JBJS article on the study.
InSpace is a biodegradable implant designed to restore the subacromial space, providing a less invasive solution compared to other surgical treatment options that require fixation devices or grafts and has been demonstrated to improve shoulder motion and function.4
More information about the InSpace balloon implant is available at www.stryker.com/inspace.
Stryker is one of the world's leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Medical and Surgical, Neurotechnology, Orthopaedics and Spine that help improve patient and healthcare outcomes. Alongside its customers around the world, Stryker impacts more than 100 million patients annually. More information is available at www.stryker.com.
Media contact
Kara Rasmussen
Sr. Director, Communications and PR
kara.rasmussen@stryker.com
Phone: 408 529 7512
1. Novi M, et al. Irreparable rotator cuff tears: challenges and solutions. Orthop Res Rev. 2018; 10:93-103.
2. Yamamoto A, et al. Prevalence and risk factors of a rotator cuff tear in the general population. J Shoulder Elbow Surg. 2010; 19(1):116-120.
3. Minagawa H, et al. Prevalence of symptomatic and asymptomatic rotator cuff tears in the general population: From mass-screening in one village. J Orthop. 2013; 10(1):8-12.
4. Verma N, Srikumaran U, Roden CM, Rogusky EJ, Lapner P, Neill H, Abboud JA. (2022). InSpace implant compared with partial repair for treatment of full-thickness massive rotator cuff tears. J Bone Joint Surg Am. Advance online publication. doi. 10.2106/JBJS.21.00667
*The InSpace™ subacromial tissue spacer system is indicated for the treatment of patients with massive, irreparable full-thickness torn rotator cuff tendons due to trauma or degradation with mild to moderate gleno-humeral osteoarthritis in patients greater than or equal to 65 years of age whose clinical conditions would benefit from treatment with a shorter surgical time compared to partial rotator cuff repair.
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SOURCE Stryker | https://www.whsv.com/prnewswire/2022/05/03/strykers-inspace-subacromial-balloon-spacer-two-year-level-1-randomized-controlled-clinical-study-published-journal-bone-joint-surgery/ | 2022-05-03T12:15:02Z |
--Transaction Marks SyBridge's Eleventh Acquisition in Three Years--
SOUTHFIELD, Mich. and FITCHBURG, Mass., May 3, 2022 /PRNewswire/ -- SyBridge Technologies ("SyBridge), a global industrial technology company, announced today that it has acquired Wachusett Precision Tool ("WPT"). This transaction further expands SyBridge's customer base and footprint in the life sciences and consumer end-markets. WPT complements SyBridge's Life Sciences facilities in California and Pennsylvania with a center in Massachusetts. This transaction marks SyBridge's eleventh acquisition since inception in 2019.
WPT is a fast-growing manufacturer of high precision prototype, pilot and production molds for medical and consumer packaging customers. With a dedicated clean room environment, WPT is capable of supportive low volume medical molding during the product certification or ramp-up phase. Located outside of Boston, MA, WPT is close to many pharmaceutical, medical devices, and consumer products customers. As a part of SyBridge's Life Sciences business unit, WPT will leverage the SyBridge platform's design, engineering, supply chain, and production capabilities to better serve and grow with its customers in the Northeast region and serve SyBridge's broader global customer base.
"WPT is one of the fastest growing tooling companies in North America and will accelerate SyBridge's expansion in the strategically important life sciences and consumer markets," said Tony Nardone, CEO of SyBridge. "The combination of WPT and SyBridge Life Sciences' existing northeast facility in Erie, PA will give us a strong presence in serving our customers in the region. In addition to the Rancho Cucamonga, CA, facility, SyBridge can increasingly seamlessly serve life sciences customers coast-to-coast."
"WPT's current owners Mike Carignan and Matt Saunders have been instrumental in building a best-in-class medical tooling company in a very short time. Their addition to the SyBridge team will strengthen our business," said Bill McDonough, President of SyBridge's Life Sciences Business Unit. "We are excited to welcome new team members and work together to continue to provide the quality and innovation that underpins our customers' success."
About SyBridge Technologies
SyBridge Technologies was established in 2019 by Crestview Partners to create a global technology leader that provides value-added design and production solutions across multiple industries. SyBridge is based in Southfield, Michigan. For more information, please visit www.sybridgetech.com.
About Wachusett Precision Tool
Founded in 2016, WPT is a full-service leader in the design and manufacture of a full range of prototype, pilot and class 101 production molds for the medical products, medical devices and consumer packaging industries. WPT is located in Fitchburg, Massachusetts. For more information, please visit www.wachusettprecisiontool.com.
About Crestview Partners
Founded in 2004, Crestview is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with approximately $10 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: industrials, media, and financial services. For more information, please visit www.crestview.com.
For more information, please contact:
Jeffrey Taufield or Daniel Yunger
Kekst CNC
(212) 521-4800
jeffrey.taufield@kekstcnc.com / daniel.yunger@kekstcnc.com
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SOURCE Crestview Partners and SyBridge Technologies | https://www.whsv.com/prnewswire/2022/05/03/sybridge-technologies-acquires-wachusett-precision-tool-inc/ | 2022-05-03T12:15:09Z |
HOUSTON, May 3, 2022 /PRNewswire/ -- Talos Energy Inc. (NYSE: TALO) ("Talos"), through its Talos Low Carbon Solutions division, Carbonvert, Inc. ("Carbonvert") and Chevron U.S.A., Inc. ("Chevron"), through its Chevron New Energies division, announced today a memorandum of understanding ("MOU") for an expanded joint venture to develop the Bayou Bend CCS offshore carbon capture and sequestration ("CCS") hub currently held by Talos and Carbonvert.
In 2021, a joint venture between Talos and Carbonvert (now known as Bayou Bend CCS) was the winning bidder for the Texas General Land Office's ("GLO") Jefferson County, Texas carbon storage lease, located in state waters offshore Beaumont and Port Arthur, Texas. The Bayou Bend CCS project site encompasses over 40,000 gross acres and, based on Talos and Carbonvert's preliminary estimates, could potentially sequester 225 to 275 million metric tons of carbon dioxide (CO2) from industrial sources in the area. The Bayou Bend CCS lease is the first and only offshore lease in the U.S. dedicated to CO2 sequestration.
Under the terms of the MOU, Talos and Carbonvert would contribute the Bayou Bend CCS lease to an expanded joint venture including Chevron in exchange for consideration of cash at closing and capital cost carry through the project's final investment decision ("FID"). Upon closing of the joint venture, equity interests in the joint venture would be 25 percent Talos, 25 percent Carbonvert and 50 percent Chevron, and Talos would remain the operator.
"Chevron brings significant expertise and experience to this project, and we are excited about what this partnership can deliver," said Timothy S. Duncan, President and CEO of Talos. "We share a collective interest and commitment to developing low carbon solutions, and the success of these solutions will depend greatly on collaborative partnerships throughout the value chain. We believe the addition of Chevron greatly enhances the execution of this hub-scale project and we hope this sends a clear signal to industrial partners in the Beaumont and Port Arthur region that we are focused on making Bayou Bend the premier CCS project in southeast Texas."
"This project is a catalyst that enables dramatic regional carbon emissions reduction to the benefit of local industry, the global community, and future generations," said Alex Tiller, President and CEO of Carbonvert. "We look forward to the opportunity to partner with Chevron on such a monumental project supporting decarbonization and partnering with customers on their paths to net zero."
"Since our establishment of Chevron New Energies, we have been consistent in our communication that partnerships will be required to grow successful lower carbon businesses. This venture is an example of the potential that partnering can have in moving large-scale lower carbon projects forward," said Chris Powers, Vice President of Carbon Capture, Utilization, and Storage (CCUS) for Chevron New Energies. "Talos and Carbonvert have worked to rapidly advance this project, and as a priority project for Chevron in a key industrial area, we are excited to contribute our experience and capability to develop the leading offshore carbon sequestration hub for the region."
The creation of the proposed joint venture is subject to the negotiation of definitive agreements with customary closing conditions, including regulatory approval.
ABOUT TALOS ENERGY
Talos Energy (NYSE: TALO) is a technically driven independent exploration and production company focused on safely and efficiently maximizing long-term value through its operations, currently in the United States and offshore Mexico, both upstream through oil and gas exploration and production and downstream through the development of future carbon capture and storage opportunities. As one of the Gulf of Mexico's largest public independent producers, we leverage decades of technical and offshore operational expertise towards the acquisition, exploration and development of assets in key geological trends that are present in many offshore basins around the world. With a focus on environmental stewardship, we are also utilizing our expertise to explore opportunities to reduce industrial emissions through our carbon capture and storage initiatives along the U.S. Gulf Coast and Gulf of Mexico. For more information, visit www.talosenergy.com.
INVESTOR RELATIONS CONTACT
Sergio Maiworm
investor@talosenergy.com
713.328.3008
ABOUT CARBONVERT
Carbonvert Inc. is a carbon capture and storage project development and finance company that simplifies decarbonization for industrial clients. Carbonvert was established in late 2020 by Alex Tiller and Jan Sherman, veterans of the renewable and conventional energy sectors to manage the financial and technical complexities of CCS project development. Our executives have decades of experience developing projects, financing tax advantaged projects, trading carbon offsets, and structuring over $4 billion in infrastructure investments, including equity, tax equity, and debt for large assets. Carbonvert's senior team has extensive experience with large-scale CO2 projects and have designed, secured environmental and CO2 storage permits, and completed and operated large-scale carbon capture, transportation, and storage projects notably Petra Nova CCS in Thompsons, Texas, Quest CCS in Alberta, Canada, and In Salah in Algeria. For more information, visit www.carbonvert.com.
INVESTOR RELATIONS CONTACT
Amanda Biggs
amanda@carbonvert.com
832.937.5021
ABOUT CHEVRON
Chevron is one of the world's leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
INVESTOR RELATIONS CONTACT
Creighton Welch
CreightonWelch@chevron.com
281.703.2728
CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
This communication may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this communication, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this communication, the words "could," "believe," "anticipate," "intend," "estimate," "expect," "project," "forecast," "may," "objective," "plan" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on our current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events.
We caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks include, but are not limited to, the success of our expanded joint venture with, and the entry into a definitive agreement with Carbonvert and Chevron, the success of the Bayou Bend CCS project, commodity price volatility, including the sharp decline in oil prices beginning in March 2020, the impact of the war in Ukraine, the impact of the coronavirus disease 2019 ("COVID-19") and governmental measures related thereto on global demand for oil and natural gas and on the operations of our business, the ability or willingness of the Organization of Petroleum Exporting Countries ("OPEC") and non-OPEC countries, such as Saudi Arabia and Russia, to set and maintain oil production levels and the impact of any such actions, lack of transportation and storage capacity as a result of oversupply, government regulations and actions or other factors, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, the possibility that the anticipated benefits of recent acquisitions are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of such acquisitions, and other factors that may affect our future results and business, generally, including those discussed under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2021 filed on February 25, 2022.
Should one or more of these risks occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. All forward-looking statements, expressed or implied, are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, to reflect events or circumstances after the date of this communication.
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SOURCE Talos Energy | https://www.whsv.com/prnewswire/2022/05/03/talos-carbonvert-chevron-announce-proposed-joint-venture-expansion-enhance-bayou-bend-ccs-project-offshore-jefferson-county-texas/ | 2022-05-03T12:15:16Z |
Recognized by HashiCorp for outstanding services and innovation
TEL AVIV, Israel, May 3, 2022 /PRNewswire/ -- TeraSky, an advanced technology solutions provider, announced that they had been named 2022 HashiCorp EMEA RSI Partner of the Year as part of the HashiCorp Partner Network Awards for Systems Integrators (SIs) and Resellers. TeraSky was one of five partners globally to be recognized for exceptional commitment to helping shared clients accelerate their cloud adoption strategies thanks to the innovative implementation of HashiCorp's portfolio of tools.
TeraSky has been a dedicated HashiCorp partner for many years, and their team of experts maintains mastery across HashiCorp's product suite – including Terraform, Vault, Consul, and Nomad. CTO Lev Andelman is also one of the few official HashiCorp Ambassadors globally for the second consecutive year.
"We are honored that HashiCorp has once again recognized TeraSky for excellence in crafting masterful solutions for companies on their digital transformation journeys," stated Ofir Abekasis, TeraSky's CEO. "We take enormous pride in leveraging our deep expertise in HashiCorp solutions to deliver ideal, customized solutions to our clients. We look forward to the exciting work we will continue to achieve as a HashiCorp Partner."
The 2022 HashiCorp Partner of the Year awards recognized organizations broken out across geographic regions that demonstrated excellence in sales and services for HashiCorp solutions.
About TeraSky
TeraSky creates masterful solutions for customers during their digital transformation journey. We assist our customers to migrate to the cloud, manage scaling data center infrastructure, build software creation platforms, properly protect customers' valuable data and secure large-scale operations. Whether you are a traditional business in need of digital transformation, or a born-to-the-cloud startup facing the challenges of expansion and scale, you can trust the journey with TeraSky. Learn more at www.terasky.com.
Media Contacts:
Orly Garini-Dil
VP of Marketing
orly@terasky.com
www.terasky.com
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SOURCE TeraSky | https://www.whsv.com/prnewswire/2022/05/03/terasky-wins-hashicorp-rsi-partner-year/ | 2022-05-03T12:15:23Z |
NEW HAVEN, Conn., May 3, 2022 /PRNewswire/ -- Trevi Therapeutics, Inc. (Nasdaq: TRVI), a clinical-stage biopharmaceutical company developing an investigational therapy Haduvio™ (nalbuphine ER) for pruritus in prurigo nodularis (PN) and chronic cough in idiopathic pulmonary fibrosis (IPF), today announced that senior management will present at the following May meetings:
LifeSci Partners Immunology & Inflammation Symposium
Date: Wednesday, May 11, 2022
Fireside chat presenters: Jennifer Good, President and CEO, and Dr. Bill Forbes, CDO
Time: 2:00 p.m. to 2:30 p.m. ET
Location: Virtual
LifeSci Partners is hosting a virtual Immunology and Inflammation (I&I) Symposium on May 10th and 11th. The event will consist of discussions with key opinion leaders (KOLs) on recent advancements in the understanding, identification, and treatment of various I&I conditions, as well as presentations/fireside chats highlighting the progress made by more than 25 biopharma companies focused in these disease areas.
To register for the event, please click here.
H.C. Wainwright Global Investment Conference
Date: May 23-26, 2022
Virtual presentation access time: Tuesday, May 24, 2022 at 7:00 a.m. ET
Location: Hybrid
Participants include Jennifer Good, President and CEO, Lisa Delfini, CFO, and Dr. Bill Forbes, CDO.
To register for the event or to request a one-on-one meeting, please click here.
About Trevi Therapeutics, Inc.
Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development and commercialization of the investigational therapy Haduvio to treat serious neurologically mediated conditions. Trevi is conducting a Phase 2b/3 clinical trial of Haduvio for the treatment of chronic pruritus associated with prurigo nodularis (PN) and a Phase 2 trial for chronic cough in adults with idiopathic pulmonary fibrosis (IPF). These conditions share a common pathophysiology that is mediated through opioid receptors in the central and peripheral nervous systems.
Founded in 2011, Trevi Therapeutics is headquartered in New Haven, CT.
About Haduvio
Haduvio, an investigational therapy, is an oral extended-release (ER) formulation of nalbuphine. Nalbuphine is a mixed ĸ-opioid receptor agonist and µ-opioid receptor antagonist that has been approved and marketed as an injectable for pain indications for more than 20 years in the United States and Europe. The ĸ- and µ-opioid receptors are known to be critical mediators of itch, cough and certain movement disorders. Nalbuphine's mechanism of action may also mitigate the risk of abuse associated with µ-opioid agonists because it antagonizes, or blocks, µ-opioid receptors. Parenteral nalbuphine is not currently classified as a controlled substance by the DEA in the United States or by regulatory authorities in most of Europe. Trevi intends to propose Haduvio as the trade name for nalbuphine ER. Nalbuphine ER has been granted Fast Track designation by the FDA for the proposed indication of reduction of moderate to severe pruritus in adults with prurigo nodularis. Its safety and efficacy have not been evaluated by any regulatory authority.
Investor Contact
Katie McManus
Trevi Therapeutics, Inc.
203-304-2499
k.mcmanus@trevitherapeutics.com
Media Contact
Rosalia Scampoli
914-815-1465
rscampoli@marketcompr.com
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SOURCE Trevi Therapeutics, Inc. | https://www.whsv.com/prnewswire/2022/05/03/trevi-therapeutics-present-upcoming-may-meetings/ | 2022-05-03T12:15:29Z |
Acquisition underscores Truist's commitment to financial wellness, technology innovation and diversity
CHARLOTTE, N.C., May 3, 2022 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced it has acquired Long Game, the award-winning gamified finance mobile app that is changing the way people save, learn and engage with their finances. Long Game transforms how users engage with their bank by using prize-linked savings and casual gaming to motivate smart financial behaviors and driving new account growth and client retention for banks. Truist will leverage Long Game's innovative technology to help its clients build long-term financial wellness and advance its purpose to inspire and build better lives and communities.
"At Truist, we are laser focused on shaping the future of finance with innovative people and products – and democratizing entrepreneurial opportunity while we do it," said Vanessa Indriolo Vreeland, head of corporate development and Truist Ventures. "Long Game is a female-led business with a diverse team of incredibly talented innovators creating unique solutions to help people achieve financial confidence."
As part of the acquisition, Long Game's engineers, designers and business leaders will join Truist's growing Innovation team. Long Game Co-founder and CEO Lindsay Holden will lead a team of engineers, product managers and designers responsible for technology innovation and development of new client-centric solutions. The team will be based in San Francisco, CA.
"This acquisition is a critical component of a broader innovation strategy at Truist that will future-proof our core businesses and attract inventive and entrepreneurial talent to help deliver new and groundbreaking solutions," said Ken Meyer, CIO for Consumer Technology and Innovation at Truist. "We're incredibly excited to welcome Lindsay and the Long Game team as we roll out this strategy and create new and distinctive experiences for our clients."
Long Game's modern architecture is aligned with Truist's existing technology stack, which will increase client engagement, savings, and financial education, particularly among millennial and Gen Z populations. The technology is also complementary to Truist Momentum, a workplace financial wellness program that educates, equips and inspires employees to manage their money based on what matters most to them.
"Truist's commitment to help people build financial wellness is exactly what we are about at Long Game," said Holden. "We've revolutionized bank engagement and are eager to apply ourselves to creating disruptive technologies that help Truist deliver a human touch in new ways."
About Truist Ventures
Truist Ventures is the corporate venture capital division of Truist Financial Corporation (NYSE: TFC), a purpose-driven financial services company committed to inspire and build better lives and communities. Headquartered in Charlotte, North Carolina, Truist Ventures delivers unprecedented touch and technology to Truist clients through partnerships with, and investments in, innovative companies and exceptional management teams with novel solutions to help Truist shape the future of finance. Truist Ventures' investment focus stretches beyond traditional financial technology into adjacent, disruptive technologies that enable Truist to deliver a human touch in new ways. Leveraging Truist's extensive network of executive-level talent and industry experts in technology, investment banking, capital markets and innovation, the Truist Ventures team helps portfolio companies fulfill growth opportunities through unparalleled access to exceptional support. Alston & Bird LLP in Atlanta, Georgia represented Truist in this transaction.
About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country, and offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $544 billion as of March 31, 2022. Truist Bank, Member FDIC. Learn more at Truist.com.
About Long Game
Long Game is a personal finance app that uses gamification to empower Gen-Z and millennials to develop healthy financial habits. The app uses best-practices from mobile gaming, and a behavioral economics strategy called prize-linked savings, to increase savings and financial education. Financial institutions today work with Long Game to add new customers, increase usage of their products, and promote financial literacy. Headquartered in San Francisco, California, the company was founded in 2015.
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SOURCE Truist Financial Corporation | https://www.whsv.com/prnewswire/2022/05/03/truist-acquires-mobile-savings-gamification-pioneer-long-game/ | 2022-05-03T12:15:36Z |
CHICAGO, May 3, 2022 /PRNewswire/ -- Donnelley Financial Solutions (NYSE: DFIN), a leading global risk and compliance company, today announced that for the sixth consecutive year it has been named by Global M&A Network as "U.S.A. M&A Virtual Data Room Firm of the Year" for its Venue® solution. DFIN received this honor at the 13th annual special M&A Atlas Awards forum, held earlier this year. DFIN's Venue Data Room (VDR) platform is designed to facilitate due diligence and eliminate risks that can compromise deals.
"We are delighted to be recognized as a leader in AI-powered virtual data room platforms," said Craig Clay, president of Global Capital Markets at DFIN. "Our industry-leading platform enables our clients to assess risk, leverage auto-redaction and schedule audit reporting all from one secure location —anywhere they are in the world. It is a testament to why they trust Venue to provide secure, efficient data rooms with end-to-end guidance from deal experts to help close deals faster."
Full-Service Platform
Venue's industry-leading platform, continually optimized for security, productivity, and usability, leverages AI technology and learning to accelerate deal closing. Key benefits include:
- Seamless and Secure Integration: Venue data room can be set up quickly and seamlessly and instantly upload bulk documents, helping companies stay organized with a full folder arrangement view.
- Best-in-Class Security: With the highest level of infrastructure security, coupled with Data Protect, DFIN clients can safeguard their most important and critical information and data—both internally and externally, including PII, using:
- Speed and Efficiency—AI and Contract Analytics: Venue can accelerate your due diligence and post-merger integration processes. It allows you to analyze 50+ files in less than a minute, quickly find relevant provisions, and extract more than 115 types of data points. It's up to 90% faster and 10% more accurate than a manual approach.
- Multi-Deal Management Tools: Venue enables automatic electronic archiving, and scheduled reports provide transparency across projects.
- Reporting & Analysis: Venue provides real-time, on-demand intelligence, with accurate and insightful analytics on buyer behavior, to help close deals faster.
"We are honored to receive the title of U.S.A. Data Room of the Year for the sixth consecutive year," said Peter Braverman, global head of Venue Data Room sales at DFIN. "Venue's intuitive platform mitigates risk while providing expert technology and great service to our clients throughout their entire life cycle—from private to public."
Harness the power of the industry's smartest Virtual Data Room: visit DFIN's virtual data room decision tree and find out how Venue can meet the needs of your organization. Learn more about Venue by visiting us at https://www.dfinsolutions.com/products/venue.
About Donnelley Financial Solutions (DFIN)
DFIN is a leading global risk and compliance solutions company. We provide domain expertise, enterprise software and data analytics for every stage of our clients' business and investment lifecycles. Markets fluctuate, regulations evolve, technology advances, and through it all, DFIN delivers confidence with the right solutions in moments that matter. Learn about DFIN's end-to-end risk and compliance solutions online at www.DFINsolutions.com or you can also follow us on Twitter @DFINSolutions or on LinkedIn.
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SOURCE Donnelley Financial Solutions | https://www.whsv.com/prnewswire/2022/05/03/venue-by-dfin-named-usa-data-room-year-by-global-mampa-network/ | 2022-05-03T12:15:45Z |
Supporting healthcare professionals navigate serious illness conversations with ease
SEATTLE, May 3, 2022 /PRNewswire/ -- VitalTalk today announced the official launch of its newest course VitalTalk Mobile. VitalTalk Mobile is series of three short, mobile-friendly interactive modules that give clinicians the tools they need to navigate serious illness conversations with ease. For the experienced clinician wanting a review of key communication skills or for new learners looking for an introduction to better communication, this course is designed for healthcare professionals of any level who want to quickly improve their ability to communicate with their patients.
Using evidence-based curriculum and methodologies, VitalTalk has distilled 20 years of NIH-funded research to fit the way clinicians learn now. VitalTalk Mobile shows ideal patient conversations, common pitfalls and solutions to make the most of patient interactions. Participants then bring new skills from the course to their clinical practice.
Participants complete the course on their own time and in a few minutes per day, healthcare professionals will learn how to provide a clear and compassionate clinical status update to their patients; work with their patients to design treatment plans that match their unique goals and values; and learn how to identify their patients' goals and values and use them to prepare patients and their families for the future.
VitalTalk Mobile costs $89, takes roughly 90 minutes to complete and is eligible for 3 Continuing Medical Education (CME) credits. The course is available for institutions with bulk pricing as well.
ABOUT VITALTALK
VitalTalk is a leader in providing serious illness communication skills training to healthcare professionals across the globe. Founded in 2012 by three academic doctors with extensive NIH research backing and educational experience, VitalTalk's vision is that every seriously ill patient is surrounded by clinicians who can skillfully discuss what matters most and match care to values. VitalTalk provides clinicians with best-practice communication methodologies and tools, a rich community of support, and ongoing development to better serve the needs of seriously ill patients and their families.
CONTACT
For VitalTalk
David Schwartz, Marketing Manager
david@vitaltalk.org
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SOURCE VitalTalk | https://www.whsv.com/prnewswire/2022/05/03/vitaltalk-launches-new-course-help-clinicians-navigate-caring-seriously-ill-patients-with-better-communication/ | 2022-05-03T12:15:55Z |
NEW YORK, May 3, 2022 /PRNewswire/ -- WhiteHorse Finance, Inc. ("WhiteHorse Finance" or the "Company") (Nasdaq: WHF) today provided an update on portfolio activity for the first quarter of 2022 and announced the date of its upcoming conference call to discuss the results of the quarter.
Portfolio Update
During the three months ended March 31, 2022, the Company had gross deployments of approximately $86.1 million and sales and principal repayments of approximately $47.7 million prior to the effects of transferring investments to the WHF STRS Ohio Senior Loan Fund LLC joint venture ("STRS JV"). The gross deployments of $86.1 million were comprised of $69.5 million in six new portfolio companies and $16.6 million in various add-on investments. The $47.7 million of sales and principal repayments were primarily driven by realizations in five portfolio companies including LHS Borrower, LLC, DCA Investment Holding, LLC, Epiphany Business Services, LLC, AST-Applications Software Technology LLC and Grupo HIMA San Pablo, Inc.
The Company estimates total investments at fair value to have decreased to approximately $800 million during the three months ended March 31, 2022 after factoring in purchases of investments, sales of securities, principal repayments, net fundings on revolvers and net change in unrealized gains (losses). The Company also estimates net asset value as of March 31, 2022 to be in the range of $14.97 to $15.01 per share. During the three months ended March 31, 2022, the realization from Grupo HIMA San Pablo, Inc. generated an approximate $6.9 million net loss, or approximately a net loss of 29.8 cents per share.
WhiteHorse Finance to Report First Quarter 2022 Results
The Company will release its first quarter financial results for the period ended March 31, 2022 on Tuesday, May 10, 2022. The Company will discuss its financial results on a conference call that day at 12:00 p.m. ET.
To access the teleconference, please dial 866-518-6930 (domestic and international) approximately 10 minutes before the teleconference's scheduled start time and reference ID #WHFQ122. Investors may also access the call on the investor relations portion of the Company's website at www.whitehorsefinance.com.
If you are unable to access the live teleconference, a replay will be available beginning approximately two hours after the call's completion through March 17, 2022. The teleconference replay can be accessed by dialing 800-938-2243 (domestic and international). A webcast replay will also be available on the investor relations portion of the Company's website at www.whitehorsefinance.com.
About WhiteHorse Finance, Inc.
WhiteHorse Finance is a business development company that originates and invests in loans to privately held, lower middle market companies across a broad range of industries. The Company's investment activities are managed by H.I.G. WhiteHorse Advisers, LLC, an affiliate of H.I.G. Capital, LLC, ("H.I.G. Capital"). H.I.G. Capital is a leading global alternative asset manager with over $47 billion of capital under management* across a number of funds focused on the small- and mid-cap markets. For more information about H.I.G. Capital, please visit http://www.higcapital.com. For more information about the Company, please visit http://www.whitehorsefinance.com.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contacts
Stuart Aronson
WhiteHorse Finance, Inc.
212-506-0500
saronson@higwhitehorse.com
Joyson Thomas
WhiteHorse Finance, Inc.
305-379-2322
jthomas@higwhitehorse.com
Robert Brinberg
Rose & Company
212-257-5932
whitehorse@roseandco.com
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
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SOURCE WhiteHorse Finance, Inc. | https://www.whsv.com/prnewswire/2022/05/03/whitehorse-finance-inc-provides-update-portfolio-activity-announces-date-first-quarter-2022-financial-results/ | 2022-05-03T12:16:02Z |
Continuous innovation, top-tier integrations, and a commitment to excellent service have allowed Yext to dominate G2's Local Listing Management category.
NEW YORK, May 3, 2022 /PRNewswire/ -- Yext, Inc. (NYSE: YEXT), the Answers Company, today announced that it has once again been named the #1 Local Listings provider on G2. Overwhelmingly positive customer feedback citing the company's expansive publisher network, real-time profile updates, and ease of use has propelled Yext to the top of G2's Local Listings Management category for seven consecutive quarters.
"Since 2006, Yext has worked hard to put businesses in control of their information throughout the entire search ecosystem," said Marc Ferrentino, President and Chief Operating Officer at Yext. "We pioneered the listings space and have innovated with our publishers for more than a decade to move the space forward. We always have and we always will."
Yext syncs critical business information to more than 100 million listings and pushes over a billion updates annually across the industry's largest network of direct integration partners, which includes platforms like Google, Amazon Alexa, Apple Maps, Facebook, and many others.
Location Listings is Yext's flagship offering and adds features with each seasonal product release. Most recently, the Spring '22 release introduced an improved posting interface, advanced filtering capabilities, and new Google sync settings. Recognition of the company's excellence clearly reflected in recent customer reviews:
- "Gone are the inconsistencies from location to location — all our listings are sharp, clean and up to date." - User in Customer Service
- "I previously used a similar platform and switched to Yext 3+ years ago. I haven't looked back and don't plan on it." - User in Customer Experience
- "If you want to establish a relationship with a true partner for growth, consider Yext for your organization." - User in Healthcare
Learn more about Yext's best-in-class Location Listings solution here.
About Yext
Yext (NYSE: YEXT) is the Answers Company and is on a mission to empower every company in the world to provide authoritative answers to every question about their organization. Yext leverages AI to collect and organize a company's information and deliver it — in the form of answers — to customers, employees, and partners. Yext's Answers Platform works by pulling in information, organizing it into a Knowledge Graph and then delivering it via a set of platform services, including Listings, Search, Pages & Reviews. Brands like Verizon, Subway, and Marriott — as well as organizations like the U.S. State Department — trust Yext to radically improve their business and deliver perfect answers everywhere.
CONTACT: Gordon Knapp, pr@yext.com
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SOURCE Yext, Inc. | https://www.whsv.com/prnewswire/2022/05/03/yext-named-1-local-listings-seventh-consecutive-quarter/ | 2022-05-03T12:16:09Z |
This transaction adds a best-in-class customer service tool to ZENVIA's platform, consolidating its position as a leading unified end-to-end CX SaaS platform in Latin America
SÃO PAULO, May 3, 2022 /PRNewswire/ -- Zenvia Inc. ("ZENVIA" or "Company") (NASDAQ: ZENV), the leading cloud-based CX communications platform in Latin America empowering companies to transform their existing communications with end customers along their life cycle, today announced the closing of the Movidesk acquisition. The agreement to acquire Movidesk was previously announced on December 21, 2021.
"This transaction concludes a series of acquisitions performed by ZENVIA in the last 18 months, including D1 and SenseData, which will enable us to consolidate our position as a unified end-to-end CX SaaS platform. Movidesk will play a key role in this consolidation. We are looking forward to welcoming the Movidesk team to our world of Humanz" explained Cassio Bobsin, ZENVIA's CEO.
"Movidesk is continuously driven by a sense of uniting people with cutting-edge technological solutions to deliver the best tools, and especially experiences that exceed expectations. With ZENVIA, we can significantly ramp up our capacity and ability to provide enhanced communication through a customer service capable of answering questions about products and services, and a qualified service desk that addresses brand-related system issues," added Donisete Gomes, Movidesk's CEO.
Founded in 2016, Movidesk focuses on customer service solutions to define workflows, provide integration with communication channels, and monitor tickets through dashboards and reports, offering a fully-fledged end-to-end support platform. According to the B2B Stack portal, the company is positioned as the best customer service software for medium-sized companies in Brazil.
For 2021, Movidesk revenues expanded 96% to R$33 million, while gross margin was approximately 70%. Currently it has 2,500 clients and its Annual Recurring Revenue (ARR) stands at R$46 million. Movidesk numbers will be consolidated as of May 2022 and are already incorporated into ZENVIA´s 2022 earnings guidance.
ZENVIA is driven by the purpose of empowering companies to create unique experiences for customer communications through its unified end-to-end platform. ZENVIA empowers companies to transform their existing customer communications from non-scalable, physical, and impersonal interactions into highly scalable, digital first and hyper contextualized experiences across the customer journey. ZENVIA's unified end-to-end CX communications platform provides a combination of (i) SaaS focused on campaigns, sales teams, customer service and engagement, (ii) tools, such as software application programming interfaces, or APIs, chatbots, single customer view, journey designer, documents composer and authentication, and (iii) channels, such as SMS, Voice, WhatsApp, Instagram and Webchat. Its comprehensive platform assists customers across multiple use cases, including marketing campaigns, customer acquisition, customer onboarding, warnings, customer services, fraud control, cross-selling and customer retention, among others. ZENVIA's shares are traded on Nasdaq, under the ticker ZENV.
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Zenvia's control.
Zenvia's actual results could differ materially from those stated or implied in forward-looking statements due to several factors, including but not limited to: our ability to innovate and respond to technological advances, changing market needs and customer demands, our ability to successfully acquire new businesses as customers, acquire customers in new industry verticals and appropriately manage international expansion, substantial and increasing competition in our market, compliance with applicable regulatory and legislative developments and regulations, the dependence of our business on our relationship with certain service providers, among other factors.
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SOURCE Zenvia | https://www.whsv.com/prnewswire/2022/05/03/zenvia-announces-closing-movidesk-acquisition/ | 2022-05-03T12:16:16Z |
SHANGHAI, May 3, 2022 /PRNewswire/ -- Zhangmen Education Inc. ("Zhangmen" or the "Company") (NYSE: ZME), a leading online education company in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2021 with the Securities and Exchange Commission on May 2, 2022. The annual report can be accessed on the Company's investor relations website at ir.zhangmenedu.com.
The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to Investor Relations Department, Zhangmen Education Inc., No.1666 North Sichuan Road, Hongkou District, Shanghai 200080, People's Republic of China.
About Zhangmen Education Inc.
Zhangmen Education Inc. (NYSE: ZME) is a leading online education company in China providing quality-oriented education to students and on-campus education services to educational institutions. Over the years, the Company has successfully garnered wide recognition in the industry and established "Zhangmen" as a trusted online education brand. For more information, please visit ir.zhangmenedu.com.
For investor and media inquiries, please contact:
In China:
Zhangmen Education Inc.
Investor Relations
E-mail: ir@zhangmen.com
The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: zhangmen@thepiacentegroup.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: zhangmen@thepiacentegroup.com
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SOURCE Zhangmen Education Inc. | https://www.whsv.com/prnewswire/2022/05/03/zhangmen-education-inc-filed-its-annual-report-form-20-f/ | 2022-05-03T12:16:22Z |
ENGLEWOOD, Colo., May 3, 2022 /PRNewswire/ -- Zynex, Inc. (Nasdaq: ZYXI), an innovative medical technology company specializing in the manufacture and sale of non-invasive medical devices for pain management, rehabilitation, and patient monitoring, ranked 250 out of 500 on The Financial Times list of Americas' Fastest Growing Companies in 2022.
"Zynex's unrelenting growth has been acknowledged, and we are honored to be included among such an innovative group of companies," said Thomas Sandgaard, Zynex CEO. "Zynex has seen a compound annual growth rate (CAGR) of 50.7% percent between 2017 and 2020 and an overall growth rate of 242% in that same period. Additionally, we are one of only twelve publicly traded healthcare focused companies to be recognized. We are pleased by this recognition and look forward to our continued expansion in the years to come."
The list, published by The Financial Times, is compiled together with Statista, a leading provider of market data, to recognize the resilience of companies in response to COVID-19 and acknowledge their ability to innovate. This is the third annual publication of the list.
About Zynex, Inc.
Zynex, founded in 1996, develops, manufactures, markets, and sells medical devices used for pain management and rehabilitation as well as non-invasive fluid, sepsis and laser-based pulse oximetry monitoring systems for use in hospitals. For additional information, please visit: www.zynex.com
Investor Contact
Gilmartin Group
650 Fifth Ave., Suite 2720
New York, NY 10019
IR@zynex.com
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SOURCE Zynex | https://www.whsv.com/prnewswire/2022/05/03/zynex-ranks-250-financial-times-list-americas-fastest-growing-companies-2022/ | 2022-05-03T12:16:29Z |
Body found inside barrel at a Las Vegas lake may have been there for decades
LAS VEGAS, Nev. (KVVU/Gray News) – Police in Las Vegas said a body found in a barrel at Lake Mead over the weekend could have been there for several decades.
A witness said his fiance’s little cousins were around when the remains were discovered. He said it was a scary sight – not something you want young children to see.
“It just so crazy,” Daniel Ruiz told KVVU. “It started out as just a normal day at the lake, and that is just the craziest thing I have seen at Lake Mead.”
Homicide Lt. Ray Spencer said officials believe the barrel was left in the lake sometime in the 1980s based on examination and additional evidence they found.
He said the barrel was found roughly 100 feet underwater and several hundred yards from shore.
“Had the water level not receded so far, we never make the discovery,” Spencer said.
While this may be the first time they have discovered remains due to low lake levels, officials said it may not be the last as the levels may continue to drop.
Spencer said they will be reaching out to the University of Nevada at Las Vegas or scientists who can help estimate the duration of the metal and sea life on the barrel.
“The number one goal right now is to try to figure out if we can identify him because it will be a very challenging part of this investigation,” Spencer said.
Police said they started to look through missing cases dating back to the 1980s in an attempt to identify the victim.
“We will look into our missing person cases from that timeframe to see if we could get a lead even prior to the DNA,” Spencer said. “There are some items we recovered that we will look through missing person cases to see if there’s even a potential. Granted it’s a needle in a haystack, but right now we have nothing to go on.”
Spencer said it will take months to know if they will be able to extract DNA to help identify the victim.
Copyright 2022 KVVU via Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/05/03/body-found-inside-barrel-las-vegas-lake-may-have-been-there-decades/ | 2022-05-03T13:09:47Z |
Judge lets Tulsa Race Massacre reparations lawsuit proceed
(AP) - An Oklahoma judge ruled Monday that a lawsuit seeking reparations for the 1921 Tulsa Race Massacre can proceed, bringing new hope for some measure of justice for three survivors of the deadly racist rampage who are now over 100 years old and were in the courtroom for the decision.
Tulsa County District Court Judge Caroline Wall ruled against a motion to dismiss the suit filed by civil rights attorney Damario Solomon-Simmons in 2020. The Tulsa-based attorney said after Wall announced her ruling that it is critical for living survivors Lessie Benningfield Randle, 107, Viola Fletcher, 107, and Hughes Van Ellis, 101.
“We want them to see justice in their lifetime,” he said, choking back tears. “I’ve seen so many survivors die in my 20-plus years working on this issue. I just don’t want to see the last three die without justice. That’s why the time is of the essence.”
The packed courtroom, which Wall noted may have been over capacity, erupted in cheers and tears after she handed down her ruling.
Solomon-Simmons sued under Oklahoma’s public nuisance law, saying the actions of the white mob that killed hundreds of Black residents and destroyed what had been the nation’s most prosperous Black business district continue to affect the city today. The lawsuit also seeks reparations for descendants of victims of the massacre.
“In public nuisance cases, it is clear either criminal acts or destruction of personal property” constitute a nuisance, said Eric Miller, a Loyola Marymount University law professor working with the plaintiffs. Miller said that racial and economic disparities resulting from the massacre continue to this day.
Chamber of Commerce attorney John Tucker said the massacre was horrible, but the nuisance is not ongoing.
“What happened in 1921 was a really bad deal, and those people did not get a fair shake ... but that was 100 years ago,” Tucker said.
Oklahoma sued consumer products giant Johnson & Johnson using the state public nuisance law for its role in the deadly opioid crisis. Initially, a judge ordered the drugmaker to pay the state $465 million in damages. But the Oklahoma Supreme Court overturned the Johnson & Johnson verdict, ruling that the public nuisance law did not apply because the company had no control of the drug after it was sold to pharmacies, hospitals, and physicians’ offices and then prescribed by doctors to patients.
Miller said the state court’s ruling in the Johnson & Johnson case does not affect the lawsuit.
The massacre happened when an angry white mob descended on a 35-block area in Tulsa’s Greenwood District, killing people and looting and burning businesses and homes. Thousands of people were left homeless and living in a hastily constructed internment camp.
The city and insurance companies never compensated victims for their losses, and the massacre ultimately resulted in racial and economic disparities that still exist today, the lawsuit claims. In the years following the massacre, according to the lawsuit, city and county officials actively thwarted the community’s effort to rebuild and neglected the Greenwood and predominantly Black north Tulsa community in favor of overwhelmingly white parts of Tulsa.
Other defendants include the Tulsa County Board of County Commissioners, Tulsa Metropolitan Area Planning Commission, Tulsa County Sheriff and the Oklahoma Military Department.
The lawsuit seeks unspecified punitive damages and calls for the creation of a hospital in north Tulsa, in addition to mental health and education programs and a Tulsa Massacre Victims Compensation Fund.
The massacre received renewed attention in recent years after then-President Donald Trump selected Tulsa as the location for a 2020 campaign rally amid the ongoing racial reckoning over police brutality and racial violence. Trump moved the date of his June rally to avoid coinciding with a Juneteenth celebration in the city’s Greenwood District commemorating the end of slavery.
___
Associated Press writer Terry Wallace in Dallas contributed to this report.
___
This version corrects the spelling of Van Ellis’ first name to Hughes instead of Hugh.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/05/03/judge-lets-tulsa-race-massacre-reparations-lawsuit-proceed/ | 2022-05-03T13:09:53Z |
Lawmakers in 19 states want legal refuge for trans youth
CONCORD, N.H. (AP) — Democratic lawmakers in more than a dozen states are following California’s lead in seeking to offer legal refuge to displaced transgender youth and their families.
The coordinated effort being announced Tuesday by the LGBTQ Victory Institute and other advocates comes in response to recent actions taken in conservative states. In Texas, for example, Gov. Gregg Abbott has directed state agencies to consider placing transgender children in foster care, though a judge has temporarily blocked such investigations. And multiple states have approved measures prohibiting gender-affirming health care treatments for transgender youth.
To combat such moves, lawmakers in both Minnesota and New York recently filed refuge state legislation modeled after the bill proposed in March by state Sen. Scott Wiener in California. Democrats in 16 other states plan to follow suit, though about half of their legislatures are out of session or not currently accepting new bills.
Wiener said he immediately began hearing from other states after coming forward with his bill, which would reject any out-of-state court judgments removing children from their parents’ custody because they allowed gender-affirming health care. It also would make arrest warrants based on alleged violation of another state’s law against receiving such care the lowest priority for California law enforcement.
“We’re sick of just playing defense against what these red states are doing,” Wiener said in an interview Monday. “We’re going on offense, we’re going to protect LGBTQ kids and their families and we’re going to build a rainbow wall to protect our community.”
Also joining the effort are LGBTQ lawmakers in Colorado, Connecticut, Florida, Georgia, Illinois, Kansas, Kentucky, Maine, Michigan, New Hampshire, New Mexico, Oregon, Rhode Island, Vermont, Washington and West Virginia.
Annise Parker, president and CEO of the Victory Institute, acknowledged that the legislation likely will fail in some states but said it was time to stand against the onslaught of bills targeting the LGBTQ community.
“This is our opportunity to drive the conversation and the debate, and to call on our allies proactively to step up instead of allowing ourselves to be targeted,” said Parker, who was the first openly LGBTQ mayor of a major American city when she led Houston for six years.
“We would love to see these bills in states where there are more progressive legislatures,” she said. “But we also think it’s important that trans kids and their families out there see and hear legislators from our community standing up and defending them.”
Wiener said it is despicable that any family would have to consider moving to a new state to protect a child, but if that happens, he hopes as many states as possible will welcome them.
“When your kid is being threatened with removal from your home, families are going to consider a lot of different options, and we just want to be clear that if you decide that’s the option for you, we’re going to do everything we can do to welcome you and protect you,” he said.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/05/03/lawmakers-19-states-want-legal-refuge-trans-youth/ | 2022-05-03T13:10:00Z |
Pope offers to meet Putin, still waiting to hear back
VATICAN CITY (AP) — Pope Francis has told an Italian newspaper that he has offered to travel to Moscow to meet with President Vladimir Putin to try to end Russia’s war in Ukraine, but that he hasn’t yet heard back.
Francis said he made the offer about three weeks into Russia’s invasion, via the Vatican secretary of state, Cardinal Pietro Parolin.
Popes for decades have sought to visit Moscow as part of the longstanding effort to heal relations with the Russian Orthodox Church, which split with Rome more than 1,000 years ago. But an invitation has never been forthcoming.
“Of course, it would be necessary for the leader of the Kremlin to make available some window of opportunity. But we still have not had a response and we are still pushing, even if I fear that Putin cannot and does not want to have this meeting at this moment,” Francis was quoted as saying by the Corriere della Sera newspaper.
Francis recalled that he spoke in March with the head of the Russian Orthodox Church, Patriarch Kirill, for 40 minutes by videoconference and for the first half “with paper in hand, he read all of the justifications for the war.
“I listened and told him: ‘I don’t understand any of this. Brother, we are not clerics of the state, we cannot use language of politics, but that of Jesus. ... For this we need to find the paths of peace, to stop the firing of arms.’”
Francis has given a handful of interviews of late to friendly media emphasizing his call for an end to the war and initiatives to provide humanitarian relief to Ukrainians. He has defended his decision to not call out Putin or Russia publicly, saying popes don’t do so. But he freely named Putin in his remarks to Corriere, and seemed to equate the carnage in Ukraine with the genocide in Rwanda a quarter-century ago.
“Such brutality, how can you not try to to stop it? Twenty-five years ago in Rwanda we saw the same thing,” he was quoted as saying.
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Follow the AP’s coverage of the war at https://apnews.com/hub/russia-ukraine
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/05/03/pope-offers-meet-putin-still-waiting-hear-back/ | 2022-05-03T13:10:06Z |
Couple robbed of $40,000 at gunpoint while visiting California
OAKLAND, Calif. (KGO) - An Atlanta couple is shaken after they were robbed at gunpoint in California.
The thieves made an escape with about $40,000 worth of stolen items.
“Our peace has definitely been broken. My heart is hurting, but I am thankful, and I’m grateful to be alive,” victim Toland Stallworth said.
What was meant to be a happy day turned into a nightmare scenario Saturday for Toland and Regina Stallworth.
The couple was in Oakland, California, over the weekend to celebrate Toland Stallworth’s grandmother’s 91st birthday.
Hours before the party, the couple was robbed at gunpoint while walking to their car near Jack London Square.
“I still see the guns. The only thing I was waiting on was the shot. I knew that Saturday was going to be the day that I died,” Toland Stallworth said.
He said they walked out of a restaurant that afternoon and suddenly found themselves surrounded by three men. Two of the men pressed guns to the couple’s head.
The Stallworths say that the thieves stole around $40,000 worth of goods. Items include cash that they had for the trip, Regina Stallworth’s purse and Toland Stallworth’s jewelry.
In spite of the loss, the couple said they were determined not to let it ruin the reason they traveled in the first place.
“Those guys took a lot of items from me, but they left me with my life, and that was the most beautiful thing, was able to still show up at that party,” Toland Stallworth said.
Toland Stallworth said after becoming a victim to crime, he is urging city leaders to do more to keep visitors and residents safe.
“You don’t have adequate security or policing. You don’t have surveillance. You don’t have cameras,” he said. “Your laws are so strict that if you’re not going to protect us, you’re not even going to allow me to protect myself.”
His wife said she agrees and is hesitant about visiting the Bay Area again.
“I love the city. It’s beautiful, but with what happened to us, I can’t come back,” Regina Stallworth said.
The couple said that despite the traumatic experience, they were moved by the outpouring of support they received from the community.
One man stayed with them for hours after the incident to make sure that they were alright.
“We had people come up to us placing money in our hand, telling us they’re sorry for what happened, and they don’t want us to have that impression of their city,” Regina Stallworth said.
As the couple heads home to Atlanta, they say they do not know what the future holds, but they plan to take it one day at a time.
“Everything has been violated. My peace, my heart, you know, and me personally, I don’t know what to expect when I get back home,” Toland Stallworth said.
Copyright 2022 KGO via CNN Newsource. All rights reserved. | https://www.whsv.com/2022/05/03/couple-robbed-40000-gunpoint-while-visiting-california/ | 2022-05-03T13:40:14Z |
WNBA to honor Brittney Griner with league-wide floor decals
(AP) - The WNBA will honor Phoenix’s Brittney Griner with a floor decal and allow the Mercury to pay her without it counting against the team’s cap, the league announced Tuesday.
The All-Star center remains in Russia after being detained following her arrival at a Moscow airport on Feb. 17. Russian authorities said a search of her luggage revealed vape cartridges that allegedly contained oil derived from cannabis, which could carry a maximum penalty of 10 years in prison. She has a hearing set for May 19.
The decal will feature Griner’s initials “BG” as well as her No. 42. All 12 teams will have the decal on their home courts starting with the season opener Friday night. The Mercury open their season at home that night against the Las Vegas Aces.
“As we begin the 2022 season, we are keeping Brittney at the forefront of what we do through the game of basketball and in the community,” said WNBA Commissioner Cathy Engelbert. “We continue to work on bringing Brittney home and are appreciative of the support the community has shown BG and her family during this extraordinarily challenging time.”
The league also approved giving the Mercury both roster and salary cap relief so that they can carry a replacement player until Griner returns home. Griner will be paid her full salary of nearly $228,000.
Engelbert announced at the WNBA Draft there would be a league-wide charity initiative spearheaded by the Mercury to support Griner’s philanthropic project, called BG’s Heart and Sole Shoe Drive, which helps the homeless.
“In conjunction with the league, the other 11 teams, and those closest to BG, we will work to keep her top-of-mind as we tip the 2022 season,” said Mercury Executive Vice President and GM Jim Pitman. “While we await her return, our main concern remains for her safety and well-being. Our fans will miss her impact on the court and in our community, and this gesture of including her initials on every court and our BG’s Heart and Sole Shoe Drive activation in every market are for them and for her.”
Griner had one of her best seasons last year — the league’s second-leading scorer and sixth in rebounds. She helped the Mercury reach the WNBA Finals, where they lost to the Chicago Sky.
___
More AP women’s basketball: https://apnews.com/hub/womens-basketball and https://twitter.com/AP_Sports
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/05/03/wnba-honor-brittney-griner-with-league-wide-floor-decals/ | 2022-05-03T13:40:20Z |
Human-centric design and optimized product features enhance management of sensitive information from one secure app
TORONTO, May 3, 2022 /PRNewswire/ -- 1Password, the leader in human-centric security and privacy, today announced that 1Password 8 for Mac is now available. Featuring a sleeker and more intuitive design, the next generation of 1Password for Mac helps users manage and protect their most sensitive information. New and enhanced functionalities, including improved performance, security and speed, reinforce users' productivity to help them get more done, faster – whether at work or at home.
"1Password for Mac has come a long way since its first iteration in 2006, and with each release, we've pushed the envelope of the user experience our customers have come to expect from us," said Dave Teare, co-founder of 1Password. "I'm eager for our customers to engage firsthand with all of the new and enhanced features that 1Password 8 for Mac delivers; my hope is that they'll love it as much as we loved creating it."
1Password released an early access version of 1Password 8 for Mac in August 2021 to let users try out a familiar, unified experience across all devices and operating systems while staying true to what makes the Mac platform special. Since then, 1Password has continued to gather and implement direct feedback from customers, making widespread improvements to raise the bar for 1Password's apps.
Modern Design and Speed – redesigned to provide consistency across different clients and help users accomplish even more.
- 1Password's design language, Knox: Provides a modern, first-class experience that improves clarity, accessibility and consistency, and unleashes incredible power and productivity gains – through features like Autofill and Quick Access.
- Detailed Views: Provides more control over items and vaults by indicating who currently has access to an item and who will gain access if an item is moved to a different vault.
- New Iconography: Improves usability by making it easier to identify items at a glance.
- Designed for Mac: Incorporates design touches inspired by recent versions of macOS such as vibrancy, whitespace, and unified toolbars, to make the app feel right at home on your Mac, in both light and dark modes.
Productivity – more intuitive features to help users get more done, faster.
- Autofill for Mac Apps and System Prompts: Allows users to autofill passwords for various accounts, directly within Mac apps.
- Quick Access: Makes finding and directly logging into websites with saved credentials possible – even when the 1Password app isn't open.
- Item Catalog: Provides guided experiences to help users easily search for, view the most popular item types (passwords, credit cards, documents, etc.), create and categorize new items.
- Developer Tools: Launched in March 2022 to give developers the ability to generate, manage and access secrets within development workflows with SSH management and an improved command-line interface (CLI).
Security and Privacy – giving users the confidence that their sensitive information is safe, private and protected.
- Watchtower Dashboard: Identifies threats – such as weak passwords, inactive 2FA, compromised passwords, and more – and indicates opportunities to optimize the security of customers' sensitive information. It also includes a real-time personal security score, which encourages users to change their passwords and improve their security habits.
- Biometric Authentication: Allows users to conveniently unlock 1Password on their Mac via macOS (enabled by TouchID) or through their Apple Watch.
- Industry-leading Security Standards: Secured with end-to-end encryption, 256-bit AES keys, SOC II Type 2 Certified and more.
"1Password is creating the future of human-centric security by designing closer to the user, making it an easy choice to be secure," added Matt Davey, Chief Experience Officer at 1Password. "1Password 8 for Mac provides a consistent and powerful user experience from any device across desktop, including in your browser. We are aiming to make staying safe online feel seamless, intuitive and believe it or not – enjoyable."
1Password has experienced continued product momentum over the last year. In addition to Developer Tools, 1Password launched 1Password 8 for Windows in November 2021, its Password Secure Sharing Tool (Psst!) in October 2021 and Events API in July 2021.
For more information about the General Access release of 1Password 8 for Mac, visit this blog post, or try it out for yourself here.
You can also find a folder of screenshots, for use in any written article, here. For more detailed descriptions, visit the photo gallery in our blog post.
About 1Password
1Password's human-centric approach to security keeps people safe, at work and at home. It's the only solution built from the ground up to enable anyone – no matter the level of technical proficiency – to navigate the digital world without fear or friction. The company's password management and credentials security platform is trusted by over 100,000 businesses, including IBM, Slack, Snowflake, Shopify, and Under Armour. 1Password protects the most sensitive information of millions of individuals and families across the globe, helping consumers and businesses get more done in less time – with security and privacy as a given. Learn more at 1Password.com.
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SOURCE 1Password | https://www.whsv.com/prnewswire/2022/05/03/1password-releases-feature-packed-update-with-1password-8-mac/ | 2022-05-03T13:40:26Z |
NEW YORK, May 3, 2022 /PRNewswire/ -- 5WPR, one of the largest independently-owned PR firms in the U.S., has been named the winner of a Bronze Stevie® Award in the PR Campaign of the Year – Media Relations category in the 20th Annual American Business Awards®.
The award recognizes 5WPR's work with client YellowHeart, an emerging platform looking to revolutionize ticketing by creating the first NFT tickets, and their partnership with Kings of Leon to release the band's "NFT Yourself" series in tandem with their new album. The team ideated and developed a media strategy to execute YellowHeart's first major NFT announcement, while effectively laying the groundwork for blockchain ticketing, establishing YellowHeart as the frontrunner in the space. The team secured a Rolling Stone exclusive, followed by wide day-of outreach to industry press in priority verticals for YellowHeart, spanning mainstream business, technology, music, cryptocurrency and national broadcast outlets.
"At a time when few knew what an NFT was, our team was making monumental moves for both the crypto and entertainment industries," said 5WPR CEO Matthew Caiola. "This campaign was the first of its kind, and we're thrilled to have played a large part in its success. This recognition is well deserved."
The American Business Awards are the U.S.A.'s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for-profit and non-profit, large and small.
Nicknamed the Stevies for the Greek word meaning "crowned," the awards will be presented to winners at a gala ceremony at the Marriott Marquis Hotel in New York on Monday, June 13. Tickets are now on sale.
About 5WPR
5W Public Relations is a full-service PR agency in NYC known for cutting-edge programs that engage with businesses, issues and ideas. With more than 250 professionals serving clients in B2C (Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, Nonprofit), B2B (Corporate Communications and Reputation Management), Public Affairs, Crisis Communications and Digital Marketing (Social Media, Influencer, Paid Media, SEO). 5W was awarded 2020 PR Agency of The Year and brings leading businesses a resourceful, bold and results-driven approach to communication.
About the Stevie Awards
Stevie Awards are conferred in eight programs: the Asia-Pacific Stevie Awards, the German Stevie Awards, the Middle East & North Africa Stevie Awards, The American Business Awards®, The International Business Awards®, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 12,000 entries each year from organizations in more than 70 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com.
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SOURCE 5W Public Relations | https://www.whsv.com/prnewswire/2022/05/03/5wpr-awarded-media-relations-pr-campaign-year-2022-american-business-awards/ | 2022-05-03T13:40:33Z |
CHARLOTTE, N.C., May 3, 2022 /PRNewswire/ -- A majority of small business owners report that inflation and supply chain disruptions are impacting their businesses, according to the Bank of America 2022 Small Business Owner Report. The survey of more than 1,000 business owners across the country—now in its 10th year—found that business owners are navigating operational challenges including price increases and loss of customers. Despite these difficulties, business outlook remains strong, with 64% anticipating their revenue will increase in the year ahead.
Conducted in March and April, the survey found:
- 88% of business owners say inflation is currently impacting their business
- 76% say supply chain issues are impacting their business
- 31% are confident the national economy will improve, down from 50% in 2021
- 39% are confident their local economy will improve, down from 56% in 2021
"Small business owners are betting on their businesses and seeking opportunities for expansion, despite concerns about the economy," said Sharon Miller, President of Small Business and Head of Specialty Banking and Lending at Bank of America. "While facing a highly challenging environment, entrepreneurs are demonstrating resilience and adaptability as they focus on the operational and strategic decisions that directly impact their customers and employees."
Economic Concerns and Recovery
Business owners are primarily concerned about key economic factors including inflation (80%), commodities prices (75%) and supply chain disruptions (64%), and this anxiety is dampening their overall outlook. Concerns over commodities prices, international affairs (61%) and interest rates (57%) all rose sharply this spring, while concerns over health care costs (57%) dipped to their lowest levels in the history of the SBOR.
While new challenges loom, entrepreneurs reported a steady recovery from the initial impacts of the pandemic. More than three-in-five business owners (62%) feel their business has fully or partially recovered from the pandemic, and nearly half (48%) cited increased consumer spending over the past year as a key driver in their recovery. Additionally, 70% of business owners plan to seek financing for their business in the year ahead, and 26% plan to hire, the highest percentage since fall 2018.
Inflation, Supply Chain and Labor Impact Operations
Most entrepreneurs say they've raised prices to sustain their business due to the impact of inflation and supply chain disruptions:
- Nearly nine out of 10 (88%) business owners are feeling the impact of inflation, leading them to: raise prices (68%); reevaluate cash flow and spending (34%); lose sales (31%)
- Three-quarters (76%) of business owners reported supply chain issues are impacting their business operations, causing them to: raise prices (58%); face difficulties sourcing products and supplies (49%); delay delivery of goods and services (43%)
- Owners are also experiencing labor shortages, with 41% reporting impacts to their business, including the need for them to work more hours and difficulty filling open positions.
Interest in Emerging Technologies
Looking to the future, entrepreneurs believe new technologies will be critical to business growth and risk reduction. Business owners believe that cybersecurity platforms (57%), 5G (50%) and automation (39%) will be important for business success in the next decade. Business owners are also preparing to adapt their sales strategies to a digital-first world and, in the decade ahead, 44% plan to prioritize digital sales over brick and mortar.
Meanwhile, 70% of business owners have adopted new digital tools and strategies for their business in the past 12 months, including more business banking online or via mobile apps (52%), and accepting more forms of cashless payments (43%).
A Decade of Change and Commitment
This year marks the 10th anniversary of the SBOR. Over the last decade, business owners have operated in a challenging but rewarding business environment. A majority (72%) feel business ownership has become more difficult over the past decade, largely due to a dynamic and more competitive business landscape. Despite which, nearly half (46%) of entrepreneurs say they have been able to spend more time with their family, and 37% have set aside more personal wellness time, compared to a decade ago. Many entrepreneurs today (46%) are even in business with their spouse or partner, with the vast majority (96%) enjoying running their business together.
For an in-depth look at the insights of the nation's small business owners, please read the full Bank of America 2022 Small Business Owner Report.
Providing a Business Advantage to Small Business Owners
Bank of America provides advice, solutions, access to capital and dedicated support to meet the unique needs of our 11 million business owner clients. According to the FDIC, Bank of America maintained its position as the nation's top small business lender at the end of 2021, with $34.8 billion in total outstanding small business loans (defined as business loans in original amounts of $1 million and under).
Bank of America 2022 Small Business Owner Report
Ipsos Public Affairs conducted the Bank of America 2022 Small Business Owner Report survey online between March 22 and May 1, 2022 using a pre-recruited online sample of small business owners. Ipsos contacted a national sample of 1,037 small business owners in the United States with annual revenue between $100,000 and $4,999,999 and employing between two and 99 employees. In addition, approximately 250 small business owners were surveyed in each of ten target markets: Atlanta, Boston, Chicago, Dallas, Houston, Los Angeles, Miami, New York, San Francisco and Washington, D.C. The final results for the national and designated market area segments were weighted to national benchmark standards for size, revenue and region.
Prior to 2016, previous waves of the Small Business Owner Report survey were conducted by telephone and while best efforts were made to replicate processes, differences in sample, weighting and method suggests caution when making direct statistical comparisons of the results from pre-2016 and post-2016.
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,100 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 54 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements and other important information, register for email news alerts.
Reporters May Contact:
Don Vecchiarello
Bank of America
Phone: 1.980.387.4899
don.vecchiarello@bofa.com
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SOURCE Bank of America Corporation | https://www.whsv.com/prnewswire/2022/05/03/88-small-business-owners-say-inflation-is-impacting-their-business-according-bank-america-small-business-owner-report-despite-concerns-64-entrepreneurs-anticipate-revenue-growth-business-expansion/ | 2022-05-03T13:40:39Z |
Bakari Sellers to Keynote Signature Fundraising Breakfast on May 18th
DURHAM, N.C., May 3, 2022 /PRNewswire/ -- All American Entertainment (AAE) is pleased to announce the corporate sponsorship of Durham Children's Initiative (DCI) through their donation of speaking fees and services to present Bakari Sellers as the keynote speaker for DCI's Annual RISE Breakfast on May 18, 2022. This new charitable partnership for AAE is the first in a long-term relationship supporting DCI and the local Durham community.
Durham Children's Initiative is the most comprehensive cradle to college and career pipeline of high-quality services for youth and their families in the state of North Carolina. DCI supports families throughout Durham County with the primary focus of building pathways to equity.
"Preparing the future workforce of Durham is more important than ever before," said Greg Friedlander, CEO, All American Entertainment. "As business leaders, we need to make investments in our own communities so that the next generation is ready to face the challenges and opportunities that exist. DCI's success rate is very impressive and should make all of us here in Durham excited about the future."
The second annual RISE breakfast is an uplifting virtual event that highlights several of the successes that DCI families have experienced through this program. This year's inspirational event featuring Bakari Sellers as keynote speaker promises to showcase the potential that young people can achieve with family and community support.
"DCI's annual RISE Breakfast is a celebration of the incredible families in the DCI community, and their resilience and successes over the past year," said David Reese, President and CEO of Durham Children's Initiative. "It's also a celebration of the power of partnerships. DCI is grateful for its partnership with All American Entertainment, which elevates our RISE Breakfast Event and makes it truly special."
The Durham Children's Initiative RISE breakfast event is free and open to the public. Donations are welcomed. To register, please visit http://event.gives/DCI.
Learn more about All American Entertainment:
- Website: https://www.allamericanspeakers.com
- Blog: https://www.allamericanspeakers.com/blog/
- Testimonials: https://www.allamericanspeakers.com/testimonials.php
- Awards: https://www.allamericanspeakers.com/awards-accolades.php
About All American Entertainment
All American Entertainment (AAE) is a full-service speakers bureau and talent booking agency, exclusively representing the interests of meeting and event planners to select, book and execute events with keynote speakers and entertainment that will leave a lasting impact on their audiences. As one of the largest global talent buyers, AAE has booked over $200M of celebrity talent on behalf of thousands of the most respected companies and organizations in the world. Since 2002, AAE has connected thousands of live and virtual events around the world with their perfect speaker, host, celebrity, or performer. In 2022, AAE proudly celebrates its 20th anniversary.
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SOURCE All American Entertainment | https://www.whsv.com/prnewswire/2022/05/03/aae-speakers-bureau-partners-with-durham-childrens-initiative-sponsors-second-annual-rise-events-keynote-speaker/ | 2022-05-03T13:40:46Z |
LAS VEGAS, May 3, 2022 /PRNewswire/ -- AGS (NYSE: AGS) brings its revolutionary Bonus Spin Xtreme ("BSX") to nearly 40 table games at the now open Palms Casino Resort Las Vegas.
BSX is now available on 39 total table games at the Palms, including:
- 24 blackjack tables
- 12 baccarat tables
- 3 roulette tables
High-limit blackjack and baccarat tables are included in the numbers above, giving high rollers a chance at a BSX-connected jackpot as well.
Ronald LaDuca, AGS' Vice President of Sales for Table Products, says: "This cutting-edge install is a major success for AGS. Our deal with the Palms marks our largest Bonus Spin Xtreme installation to date. We're proud to work with the San Manuel Band of Mission Indians to bring BSX to new players at the Palms Las Vegas, building on our previous install of 12 roulette tables at the Band's Yaamava' Resort & Casino at San Manuel in California."
Paul Garcia, Director of Tables Games at the Palms Las Vegas, says: "By linking nearly 40 tables on Palms' floor to a fast-growing single jackpot pool, Bonus Spin Xtreme elevates the player experience by creating more ways to win and have fun at the table."
BSX is a proprietary technology that can link all table games within a casino, even if those games have disparate math models. The feature provides faster incrementing and larger progressive jackpots, rising to the challenge of offering a single jackpot on community-style table games.
About AGS
AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II Native American gaming market, but our customer-centric culture and growth have helped us branch out to become a leading all-inclusive commercial gaming supplier. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, real-money gaming platforms and content, highly rated social casino solutions for operators and players, and best-in-class service, we offer an unmatched value proposition for our casino partners. Learn more at www.playags.com.
About Palms Casino Resort
Palms Casino Resort is making history as the first resort in Las Vegas fully owned and operated by a Native American Tribe. Palms Casino Resort features two distinct towers with 766 hotel rooms and suites, a diverse mix of bars, restaurants, live entertainment venues and immersive lifestyle experiences across a 95,000-square-foot reimagined casino. The resort also includes over 190,000 square feet of meeting, convention and event space; the Pearl, a 2,500-seat theater; an expansive pool and spa area; wedding chapel; the Brenden Theatres 14-screen cinema and nearly 600 units at Palms Place condominiums.
Palms is located just west of the center of the Las Vegas Strip off I-15 on Flamingo Road. Palms Casino Resort is owned by The San Manuel Gaming and Hospitality Authority ("SMGHA") an affiliate of the San Manuel Band of Mission Indians. For more information visit http://www.palms.com/ or the Palms Press Room. Follow Palms on social media Facebook, Twitter, Instagram.
AGS Media Contact:
Julia Boguslawski, Chief Marketing Officer
Jboguslawski@PlayAGS.com
AGS Investor Contact:
Brad Boyer, Senior Vice President of Investor Relations & Corporate Operations
Bboyer@PlayAGS.com
Palms Casino Resort Contact:
Celena Haas-Stacey, CHS Communication
celena@chscomms.com
©2022 AGS LLC. All® notices signify marks registered in the United States. All ™ and ℠ notices signify trademarks, which are not registered on any country-wide basis. Products referenced herein are sold by AGS LLC or other subsidiaries of PlayAGS, Inc.
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SOURCE AGS | https://www.whsv.com/prnewswire/2022/05/03/ags-palms-casino-resort-las-vegas-bet-big-with-39-bonus-spin-xtreme-enabled-table-games/ | 2022-05-03T13:40:52Z |
FP Alpha, the AI-driven holistic planning solution that helps advisors identify actionable recommendations to clients, launches The Estate Snapshot, providing advisors a scalable way to summarize and visualize key components of a client's estate plan, simply by uploading their legal documents.
NEW YORK, May 3, 2022 /PRNewswire/ -- FP Alpha, an AI-driven planning solution for financial advisors, announced today the launch of their new tool, The Estate Snapshot, an enhancement to their platform's Estate Planning Module.
The Estate Snapshot is produced as a result of applying AI technology to read documents such as wills and trusts which then summarizes them into a client deliverable with easy to follow visuals, including flowcharts, allowing the advisor to best review the distribution of assets, identify key individuals, and explain potential scenarios to their clients.
"While there are current tools that exist to streamline the creation of estate planning documents and software that helps bring legacy planning into the larger conversation, nothing existed to summarize and visualize the key components of a client's estate plan, said FP Alpha's Founder and CEO Andrew Altfest. That is why we set out to create something that could do that; and that is what The Estate Snapshot is. As an advisor myself, I found that if you could incorporate estate planning insights into the larger planning discussion, it allowed you to provide a truly holistic approach to planning."
It also is easy to implement. Simply upload clients' wills, trusts and power of attorney documents, and the tool summarizes the documents, eliminating the need for advisors to manually read them. Advisors then can use the personalized deliverable, which summarizes and visualizes the client's distribution plan, during client meetings.
With a comprehensive advanced planning profile for each client, advisors will be able to expand their services, highlight more planning opportunities and generate more revenue – without adding additional staff or requiring their teams to learn anything new.
This additional functionality enhances the already robust Estate Planning Module, part of the FP Alpha platform, which identifies key estate planning opportunities allowing advisors to quantify the value of their advice.
Beta users of The Estate Snapshot, in conjunction with the Estate Planning Module, have been able to effectively use the tool with clients several ways including significant estate tax savings, liquidity events, as well as state estate tax exposure based on properties owned.
Advisors often talk about being "holistic," and with the addition of advanced planning tools, they truly can be by offering all their clients a 360-degree picture of their financial situation.
About FP Alpha
Founded by financial planner and industry leader, Andrew Altfest, CFP ®, FP Alpha is an AI-driven holistic comprehensive planning solution that helps advisors identify actionable recommendations to clients, in a scalable, intelligent, and cost-efficient manner. FP Alpha is designed to integrate seamlessly into the many stages of the financial planning process and is complementary to the advisor's current financial planning software, starting where they stop. By leveraging AI learning and subject matter experts across 16 financial planning disciplines, including tax, estate and insurance, this innovative tool allows advisors to uncover new planning opportunities and provide clients with more holistic advice. For more information, please visit: https://fpalpha.com. Patent Pending.
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SOURCE FP Alpha | https://www.whsv.com/prnewswire/2022/05/03/ai-wealth-tech-firm-fp-alpha-launches-first-its-kind-estate-planning-tool-deliverable-estate-snapshot/ | 2022-05-03T13:40:58Z |
Expands BPO Service Offerings in Energy, Telecom, Nonprofit and Financial Services
WILLOW GROVE, Pa., May 3, 2022 /PRNewswire/ -- AnswerNet, a full-service provider of inbound, outbound, automated, and global BPO contact center services, announces the completion of 11 call center-related company acquisitions between March 2021 – February 2022.
At the onset of the pandemic in 2020 while many businesses faced stoppages or closures, AnswerNet was called upon to offer various Covid19-related services, including support and assistance with contact tracing, Emergency Rental Assistance Programs (ERAP), state unemployment claims, and others. As the vaccine was introduced, scheduling and other vaccine-related work expanded AnswerNet's Covid/BPO service portfolio further.
As this Covid-related work began to dissipate in 2021, several well-respected companies with strong operations and steady cash flows approached AnswerNet looking to sell their businesses. In the words of Founder & CEO, Gary Pudles, "The time came to make a choice; do we downsize or do we reinvest in the company? We chose the latter, and here we are."
The 11 Acquisitions:
- A spinoff of a large Canadian contact center operator in Halifax, NS
- FineLine: Winnipeg, MB (nonprofit donor services including "keying and caging" operations)
- Mathews Answering Service: Great Falls, MT
- TPV.com (aka Data Exchange): Tulsa OK –first of four third-party verification (TPV) companies
- TrainNow.net, Seattle-based learning management system (LMS)
- Ansercomm Telephone Answering Service: Hackensack, NJ, Maple Shade NJ, and N. Fort Lauderdale, FL
- Action 1 Answering Service: Mountain Top, PA
- VoiceLog: San Antonio, TX (TPV)
- Quality Contact Solutions: Aurora, NE (large dedicated BPO & telemarketing provider)
- TrustedTPV: Severn, MD
- Calibrus: Tempe, AZ (TPV & BPO)
Becoming a Leader in Third-Party Verification and Nonprofit Donor Services
With the purchase of these four leading TPV providers (Calibrus, TPV.com, TrustedTPV, VoiceLog), AnswerNet acquired businesses that have completed 115 million+ verifications and is now the largest provider of third-party verification services in North America.
With the FineLine acquisition, AnswerNet now supports 50+ internationally known nonprofits, including American & Canadian Red Cross, Salvation Army, Humane Society, Habitat for Humanity, and Doctors without Borders.
Pudles adds, "These acquisitions help us further our story that we started in 1998 as a single-location telephone answering service with roots back to 1929, and have emerged as a global BPO provider who continues to lead by delivering all forms of world-class telecommunications and technology services."
For more information, contact:
David Gerhardt
Director of Marketing
david.gerhardt@answernet.com
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SOURCE AnswerNet Network companies | https://www.whsv.com/prnewswire/2022/05/03/answernet-acquires-11-companies-11-months/ | 2022-05-03T13:41:05Z |
Latest round led by IVP values the rapidly growing company at $450 million
SAN FRANCISCO, May 3, 2022 /PRNewswire/ -- Traceable AI, the API security & observability company, today announced it has raised $60 million in Series B funding. This new funding values Traceable AI at more than $450 million. This investment round was led by Institutional Venture Partners (IVP), and other investors include Tiger Global Management and existing investors Unusual Ventures and BIG Labs. Traceable AI plans to use this round of funding to accelerate its next phase of growth by further investing in its product development and research efforts, expanding its sales and marketing teams, and expanding global sales.
"API security has become a major security and compliance concern for most companies," said Steve Harrick, general partner, IVP. "Traceable offers a fundamentally differentiated solution that provides coverage across the full DevSecOps software lifecycle — from API development and testing to runtime protection. The company is led by Jyoti Bansal and Sanjay Nagaraj, proven entrepreneurs who we have been fortunate to work with before. They listen to customer needs and know how to deliver software at scale."
Traceable was started two years ago by AppDynamics and Harness founder Jyoti Bansal and former AppDynamics VP of Engineering Sanjay Nagaraj through a $20 million Series A in July 2020.
"Widespread use of APIs in cloud-native applications has led to a significantly larger attack surface, intensifying the challenge of protecting these APIs from malicious usage or abuse," said Bansal. "Bad actors only need one API entry point to access an organization's data and cause irreparable financial, reputational and service interruptions damage. Traceable AI applies the power of machine learning and distributed tracing to truly understand how an application really works in the context of the business, and therefore, be able to detect anomalies and block threats to keep customers secure and resilient against next-gen attacks."
By leveraging the team's expertise in distributed tracing and observability, Traceable AI is the only API security platform that discovers, manages and secures APIs for enterprise-level organizations. Their differentiated capabilities provide coverage for the most important API security use cases, including API discovery, sensitive data exfiltration, and detecting and blocking attacks such as account takeover, API abuse and API fraud.
"As we know, all businesses are run by software. Given that APIs are the core engine of any software model today, it's imperative that we secure them to protect the business", said John Vrionis, partner at Unusual Ventures. "We are extremely excited to be a part of the Traceable team and their continued efforts to help enterprises secure their most important software asset – APIs."
Traceable AI provides the industry's leading API security platform that discovers, manages, and secures all APIs against malicious attacks and provides rich analytics to perform threat hunting, so you can make the right decisions regarding your API security posture.
A wide range of companies, including Informatica, Bullish, Digital Ocean, Zolve, Houwzer and many large finance firms utilize Traceable AI's innovative distributed tracing technology to secure their cloud-native applications.
"We want to detect and respond to breaches in the shortest time possible," said Pathik Patel, head of cloud security at Informatica. "The most important part is to figure out how much visibility we have into our environment and how quickly we can find the root causes and remediate those items. Traceable AI deploys across any environment, whether it's your cloud, Kubernetes, or traditional virtual machines. Knowing how our applications behave as a part of API discovery is what created the win for the Traceable AI team at Informatica."
"Businesses are now API driven and increasingly susceptible to business logic abuse and generic vulnerabilities like Log4Shell/Spring4shell. A holistic approach is needed to protect APIs from known and unknown threats across environments by understanding their production and pre-production environments," said Nagaraj. "Traceable AI fits into a company's existing infrastructure quickly and without friction. We offer agentless deployment options, including out-of-band traffic mirroring, to make sure our platform fits the needs of our customers."
About Traceable AI
Traceable protects APIs from the inside by understanding the unique business logic, user attribution, and context of each API – from development through production. With our distributed tracing technology and advanced context-based behavioral analytics, we deliver modern API security to your cloud-native and API-based applications. Learn more at https://traceable.ai.
PR Contact Information:
Emily Gallagher, Touchdown PR on behalf of Traceable AI,
traceable@touchdownpr.com
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SOURCE Traceable AI | https://www.whsv.com/prnewswire/2022/05/03/api-security-innovator-traceable-ai-lands-60-million-series-b/ | 2022-05-03T13:41:11Z |
New Partnership to Introduce Diverse Talent and Expanded Opportunities
SEATTLE, May 3, 2022 /PRNewswire/ -- Apprenti, a national leader in registered tech apprenticeships, today announced a partnership with interactive entertainment company provider of 3D engine technology Epic Games to introduce new Unreal Engine-based apprenticeships that will extend the many opportunities of real-time technology and create new pathways to success.
To jumpstart the program, Epic Games will be matching a $100k grant from the Department of Labor, Office of Apprenticeships, and will provide access to their Unreal Authorized Training Centers, providing support and world-class training through CG Spectrum to help meet the overwhelming requirement for Unreal Engine skills, like 3D graphics and real-time 3D, in the workforce. Apprenti will also seek additional investments to rapidly accelerate a national registered apprenticeship program specific to much needed roles across a multitude of industries including gaming, automotive and architecture, assisting a diverse range of sectors on their mission to close the talent gap.
The need for real-time 3D skills continues to gain momentum, outpacing average IT technology skills by 50% and growing 10% faster than the overall job market worldwide. The gaming industry added 30,000 new entry level roles last year, and in order to meet this demand for new talent, it will be of the utmost importance for studios and companies to reimagine the hiring process to build a more diverse and competitive workforce. With this partnership, Epic Games is creating an opportunity for companies in this industry to join in the expansion of apprenticeship in gaming.
"The content created by the gaming industry needs to include the viewpoints of its consumers. It's imperative that game developers reflect the diversity of end-users," said Jennifer Carlson, Executive Director and Co-Founder, Apprenti. "Beyond this, an apprenticeship based in Unreal Engine skills will provide a pathway to careers not just in gaming but in broad industries such as film, television, advertising, and manufacturing. We are proud to partner with Epic Games and help underrepresented individuals explore lucrative careers in interactive media."
"As the demand for real-time skills continues to grow, apprenticeship programs not only offer an effective solution to the tech talent gap, they also have the potential to enrich the lives of people and communities, connecting them with invaluable resources and opportunities," said Julie Lottering, Director of Unreal Engine Education, Epic Games." At Epic, we're working alongside Apprenti to deliver Unreal Engine apprenticeship programs for games, media and entertainment, and beyond. This partnership is only the tip of the iceberg when it comes to the potential industry-transcending impact and we couldn't be more excited for the future."
Industry training and mentorship will be provided by CG Spectrum. "We are excited to collaborate with Epic and Apprenti on this initiative. This co-investment will allow us to work closely with Epic's customers and industry leaders to train and inspire creators, while leveraging the Apprenti model to increase access to expert-led development and coaching across these industries." shared Jeremy Chinn, Global Chief Operating Officer, CG Spectrum.
Operating nationally, Apprenti has placed apprentices at the largest companies in the United States, including Amazon, PayPal, Wayfair, Liberty Mutual and JPMorgan Chase, among many others. Among apprentices, 85% are from underrepresented groups. This figure points to Apprenti's impressive success in providing a pathway to tech careers for apprentices from non-traditional backgrounds.
For more information and to get involved, please visit https://apprenticareers.org/contact/.
About Apprenti
Apprenti, a 501(c)3 non-profit, delivers registered apprenticeship programs to bridge the tech talent and diversity gaps. By adapting the time-tested model of apprenticeship, Apprenti helps employers meet evolving workforce needs and trains future tech workers with an emphasis on underrepresented groups. Apprenti's programs are industry recognized and federally approved for employers with tech talent needs across the United States. Apprenti is partially funded through a U.S. Department of Labor (DOL) contract, as well as other funders nationwide. For more information on how to apply, donate, or become a hiring partner, please visit www.ApprentiCareers.org
About Epic Games
Founded in 1991, Epic Games is an American company founded by CEO Tim Sweeney. The company is headquartered in Cary, North Carolina and has more than 50 offices worldwide. Today Epic is a leading interactive entertainment company and provider of 3D engine technology. Epic operates one of the world's largest games, Fortnite, and Epic has over 600 million accounts with over 4.7 billion friend connections across Fortnite, Fall Guys, Rocket League, and the Epic Games Store. Epic also develops Unreal Engine, which powers the world's leading games and is also adopted across industries such as film and television, architecture, automotive, manufacturing, and simulation. Through Unreal Engine, Epic Games Store, and Epic Online Services, Epic provides an end-to-end digital ecosystem for developers and creators to build, distribute, and operate games and other content.
About CG Spectrum
Established in 2011, CG Spectrum is a global top-ranked training provider offering specialized programs in real-time 3D, game development, animation, VFX, and digital painting. CG Spectrum inspires and trains creators through a unique online learning model and personalized mentorship from industry professionals. CG Spectrum is an Unreal Authorized Training Center, Unreal Academic Partner, SideFX Certified Training Provider, and Toon Boom Authorized Training Center delivering programs worldwide. Learn more at cgspectrum.com.
Contact:
FINN Partners for Apprenti
apprenti@finnpartners.com
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SOURCE Apprenti | https://www.whsv.com/prnewswire/2022/05/03/apprenti-epic-games-announce-first-of-its-kind-unreal-engine-apprenticeship-program/ | 2022-05-03T13:41:14Z |
Increases Range, Reduces Power Consumption, and Offers Industry-First Combination of Design Flexibility with Ultra-High Resolution for Optimal Performance Across Customer Verticals and Driving Scenarios
TEL AVIV, Israel, May 3, 2022 /PRNewswire/ -- Arbe Robotics Ltd. (Nasdaq: ARBE) ("Arbe"), the global leader in next-generation Imaging Radar solutions, today announced the launch of the final RF chipset production configuration, which increases range, reduces power consumption, and offers the industry-first combination of design flexibility with ultra-high resolution, providing optimal performance across driving scenarios and customer verticals, including commercial vehicles and trucks.
The new RF Chipset delivers the best radar image quality on the market, enhancing the company's offering with long range sensing and high sensitivity, reducing power consumption significantly while ensuring stability of performance and auto-calibration across the entire automotive temperature range. Arbe's RF solution detects objects in challenging driving scenarios and complicated use cases such as a vehicle under a bridge, a tire on the road, a pedestrian near a guardrail, a motorcyclist over 250 meters away, and more.
"Arbe is constantly pushing the envelope to provide our customers with perception radar that surpasses any other radar solution on the market," says Kobi Marenko, CEO of Arbe. "Our new RF chipset is designed to provide the highest level of performance and safety to all automotive verticals, including passenger vehicles, commercial vehicles, delivery robots and trucks, which have unique safety requirements."
Key new transmitter chip features include:
- Best-in-class output power of 12.5 dBm from a single channel, allowing long range detection of over 300m with a single channel
- Support for simultaneous transmission from multiple channels, or beamforming, which
Beamforming is available in 12*16 radars, but due to the low channel count, it results in a reduction of the MIMO array size, and hence reduces resolution and increases sidelobes. Arbe's 48*48 radar solution offers 10x MIMO channels and is able to increase the flexibility of radar design with minimal impact on resolution.
- 50% reduction power consumption per chip
Key new receiver chip features Include:
- Stability over the entire automotive temperature range of -40 °C to +125 °C
- Over 50% power consumption reduction per chip, exceeding all other solutions in power consumption per channel
- Reduction of noise figure to 11 dB, which is the best noise figure in the industry. The high sensitivity of the system contributes to the enhanced range as well as the ability to detect small objects
- ASIL-B, AEC-Q100, and Automotive Grade 2, and Grade 1 ready
Arbe's proprietary RF chipset leverages the latest RF processing technology and state-of-the-art RF performance at the lowest cost per channel. Arbe's high-resolution relies on 48 transmitting and 48 receiving antennas to create a wide, 2304 virtual channel array that natively achieves high dynamic range and avoids angular ambiguities and phantom objects. The ultra-high resolution allows the system to track moving objects, map the environment, and detect stationary obstacles, generating free-space mapping for easy path planning and accurate localization.
About Arbe
Arbe (Nasdaq: ARBE), a global leader in next-generation Imaging Radar Chipset solutions, is spearheading a radar revolution, enabling truly safe driver-assist systems today while paving the way to full autonomous-driving. Arbe's imaging radar is 100 times more detailed than any other radar on the market and is a mandatory sensor for L2+ and higher autonomy. The company is empowering automakers, tier-1 suppliers, autonomous ground vehicles, commercial and industrial vehicles, and a wide array of safety applications with advanced sensing and paradigm-changing perception. Arbe is a leader in the fast-growing automotive radar market that has an estimated projected total addressable market of $11 billion in 2025. Arbe is based in Tel Aviv, Israel, and has an office in the United States.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain "forward-looking statements'' within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. The words "expect," "believe," "estimate," "intend," "plan," "anticipate," "project," "may," "should," "strategy," "future," "will," "project," "potential" and similar expressions indicate forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions which are not historical facts, and, as a result, are subject to risks and uncertainties, including the development, performance and capabilities of Arbe'sRF chipset production configuration, the development of competitive products, the performance of Arbe's chipset in trials, Arbe's ability to produce and deliver products that meet the quality and delivery requirements of customers and other factors, which are not historical facts. You should carefully consider the risk factors and uncertainties described in "Risk Factors," "Operating and Financial Review and Prospects" "Cautionary Note Regarding Forward-Looking Statements'' and the additional risks described in Arbe's annual report on Form 20-F, as well as the other documents filed by Arbe with the SEC. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and Arbe does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
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SOURCE Arbe | https://www.whsv.com/prnewswire/2022/05/03/arbe-launches-final-rf-chipset-production-configuration/ | 2022-05-03T13:41:22Z |
New agreement to benefit over half of New Jersey's residents
NEW YORK, May 3, 2022 /PRNewswire/ -- Aidoc, the leading provider of healthcare AI solutions, today announced an agreement with Atlantic Health System, one of New Jersey's leading hospital networks. Atlantic Health rolled out Aidoc's AI solution to several hospitals within its vast network, which serves more than half of the Garden State's nine million residents.
Physicians at Atlantic Health use Aidoc's AI solutions to triage patient CT scans and receive alerts notifying them of critical situations, such as potential brain bleeds, cervical spine fractures, blood clots in the lungs, rib fractures, and bowel injury, expediting care when every second counts. AI tools help physicians keep pace with increasing demands while maintaining high quality outcomes.
"Radiologists must consider a multitude of data and other factors when interpreting a study and making a diagnosis, ranging from normal anatomy to different disease processes," said Devon A. Klein MD, chairman of radiology and radiation oncology at Atlantic Health System's Overlook Medical Center. "Having a tool to assist in these considerations is an enormous advantage in these scenarios. When patients are depending on us to quickly identify areas of concern that may need more immediate treatment, every moment becomes even more precious."
"We are honored to get the vote of confidence from Atlantic Health System," said Elad Walach, co-founder and CEO of Aidoc. "With a health network the size of Atlantic Health's, you're looking for a platform that can support the entire network's clinical AI needs, so that patients across the state can receive the same exceptional care. It's really great to see that New Jersey is making AI healthcare the standard and improving clinical outcomes for their patients."
Aidoc has been implemented across each of Atlantic Health System's medical centers, including Morristown Medical Center, ranked the number one hospital in New Jersey, and Overlook Medical Center, ranked fourth in the state by U.S. News and World Report.
About Aidoc
Aidoc (aidoc.com) is the leading provider of artificial intelligence healthcare solutions that empower physicians to expedite patient treatment and enhance efficiencies. Aidoc's AI-driven solutions analyze medical images directly after the patient is scanned, suggesting prioritization of time-sensitive pathologies, as well as notifying and activating multidisciplinary teams to reduce turnaround time, shorten length of stay, and improve overall patient outcomes.
About Atlantic Health
Atlantic Health System is at the forefront of medicine, setting standards for quality health care in New Jersey, Pennsylvania and the New York metropolitan area. Powered by a workforce of more than 18,000 team members and 4,800 affiliated physicians dedicated to building healthier communities, Atlantic Health System serves more than half of the state of New Jersey including 12 counties and 5.5 million people. The not-for-profit system offers more than 400 sites of care, including its seven hospitals: Morristown Medical Center in Morristown, NJ, Overlook Medical Center in Summit, NJ, Newton Medical Center in Newton, NJ, Chilton Medical Center in Pompton Plains, NJ, Hackettstown Medical Center in Hackettstown, NJ, Goryeb Children's Hospital in Morristown, NJ, Atlantic Rehabilitation Institute in Madison, NJ and through its partnership with CentraState Healthcare System in Freehold, NJ.
Contact:
Netanya Stein
WestRay Communications
netanya@westraycommunications.com
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SOURCE Aidoc | https://www.whsv.com/prnewswire/2022/05/03/atlantic-health-system-chooses-aidoc-medical-ai-imaging-solution/ | 2022-05-03T13:41:29Z |
WALTHAM, Mass., May 3, 2022 /PRNewswire/ -- Bentley University is now accepting cryptocurrency for tuition payments, becoming one of the first universities in the U.S. to offer students this new digital option. The move highlights Bentley's long-standing commitment to leading the way in the early adoption of technologies changing the business world.
"Bentley University is at the forefront in preparing business leaders with the skills and knowledge to succeed in the changing world economy," said university President E. LaBrent Chrite. "We're proud to embrace this technology that our students are learning about, which will soon transform the global business landscape they're about to enter."
The university is partnering with the crypto exchange Coinbase to accept three cryptocurrencies -- Bitcoin, Ethereum, and the stablecoin USD Coin -- giving students and their families new ways to pay their tuition. Bentley is also planning to accept gifts and donations in Bitcoin, Ethereum and USD Coin.
Cryptocurrencies play an increasingly important role in the world's economy, affecting the creation of new businesses, how salaries are paid, how payments are tracked, and even how we buy tickets to games and concerts. More than 41 million Americans – 16 percent of U.S. adults – have invested in, traded or used cryptocurrency, according to the Pew Research Center. The global cryptocurrency market is projected to more than double, from $910.3 million in 2021 to $1.9 billion in 2028, according to Fortune Business Insights.
Bentley student Alex Kim '22, MSF '23 was an early cryptocurrency adopter. He started investing in Bitcoin during high school, and last fall he launched the Bentley Blockchain Association, one of the few student-led blockchain groups in the nation. The group has grown to 257 members just a few months after its creation.
"Students have a real interest in knowing more about blockchain, decentralized finance and cryptocurrency investments," said Kim, who will be a speaker at NFT.NYC, the world's leading event focused on non-fungible tokens or NFT's. "These technologies are influencing the industries where they will be working."
Student interest helped fuel the creation of a new crypto finance course that will launch at Bentley this fall focused on blockchain applications and decentralized finance.
Last year, Bentley used another form of digital technology to celebrate former women's basketball coach Barbara Stevens' induction into the Naismith Memorial Basketball Hall of Fame, creating NFTs – "non-fungible tokens," which are digital collectibles that are bought and sold with cryptocurrency on blockchains – to commemorate the milestone. Bentley was one of the first universities in the world to issue NFTs.
Bentley University is more than just one of the nation's top business schools. It is a lifelong-learning community that creates successful leaders who make business a force for positive change. With a combination of business and the arts and sciences and a flexible, personalized approach to education, Bentley provides students with critical thinking and practical skills that prepare them to lead successful, rewarding careers. Founded in 1917, the university enrolls 4,000 undergraduate and 1,000 graduate and PhD students and is set on 163 acres in Waltham, Massachusetts, 10 miles west of Boston. For more information, visit bentley.edu.
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SOURCE Bentley University | https://www.whsv.com/prnewswire/2022/05/03/bentley-university-now-accepting-cryptocurrency-tuition-payments/ | 2022-05-03T13:41:36Z |
Bestow continues to increase financial security by building low-lift embedded life insurance software that companies can launch in as little as one day.
DALLAS, May 3, 2022 /PRNewswire/ -- Bestow, the leading life insurance technology company, today announces the launch of new embedded insurance technologies that empower businesses of all sizes to join them in increasing financial security through life insurance. With integrations that take as little as one day to launch, Bestow Protect is a suite of embedded solutions that enable fintechs, financial institutions, P&C carriers, and others to bundle life insurance within their existing customer ecosystem — providing more value, increasing retention, and growing revenue.
Bestow Protect pairs the best of Bestow's technology stack with leading companies' brand equity and engagement — making life insurance more accessible to millions of people who need it. Powered by Bestow's industry-leading platform, Protect integrations enable partners to embed a fully-hosted, 100% digital term life insurance buying experience. Customers can apply for, and if approved, purchase up to $1.5 million in coverage in as little as 5 minutes within the partner's application or website. A medical exam is never required. Bestow's life insurance infrastructure provides a best-in-class experience to customers and handles every aspect of the purchasing experience for partners from pricing estimates to application to instant underwriting to policy issuance and administration.
The Bestow Protect suite of embedded life insurance includes:
- Protect Web: a plug-and-play full-coverage solution that companies can launch in one day.
- Protect API: with a new SDK integration built on top of Bestow's Protect API capabilities, companies can launch a highly customizable, white-labeled offering in any application in a few sprints.
In addition to industry-first embedded insurance technologies, Bestow provides end-to-end support for partners and their communities, including licensing assistance, launch management, marketing and compliance expertise, and expert customer support.
"At Bestow, we're building transformational infrastructure that powers better life insurance anywhere," said Jonathan Abelmann, President and Co-Founder of Bestow. "Life insurance is a key component to financial security, but to truly expand access, the industry must adopt modern technology solutions that meet the needs and buying preferences of today's customers. Bestow Protect does exactly that by enabling companies to cross-sell this important product within their ecosystems through seamless software integrations that take minimal time and resources."
Forty-one million Americans recognize a need for life insurance but have yet to purchase coverage, representing a $12 trillion coverage gap. Perceived high costs, product confusion, process friction, and limited access are key barriers to securing financial protection for their loved ones. Millennials and Gen Z, in particular, are aging into more mature life events, such as homeownership, marriage, and parenthood — all moments that create a need for life insurance. In fact, 48% of Millennials say they plan to buy life insurance soon.
With Bestow's platform, companies can strengthen their customer relationship by offering a product they need and a simple and affordable way to check it off their to-do list. Offering term life insurance alongside an existing product suite enables partners to interact with their customers for the next 10-30 years. In addition, Bestow pays an annuitized commission so partners can maximize lifetime value with payments steadily rolling in over a recurring period.
To offer Bestow to your customers, email partners@bestow.com or visit our partner page.
About Bestow
Bestow is the leading life insurance technology company. As both a direct-to-consumer destination and an infrastructure provider, Bestow powers instant life insurance solutions for businesses of all sizes, across any channel. In a world full of unknowns, Bestow is on a mission to increase financial security for everyone by creating the best possible products and experiences that serve future generations. To learn more, visit bestow.com.
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SOURCE Bestow Inc. | https://www.whsv.com/prnewswire/2022/05/03/bestow-leading-life-insurance-technology-company-launches-new-plug-and-play-embedded-insurance-solutions-businesses-all-sizes/ | 2022-05-03T13:41:42Z |
Commercial supersonic aircraft manufacturer enters long-term agreement with leader in direct air capture (DAC) technology
DENVER, May 3, 2022 /PRNewswire/ -- Boom Supersonic, the company building the world's fastest and most sustainable supersonic airliner, today announced a 10-year agreement with Climeworks, a leader in carbon dioxide removal through direct air capture (DAC). As part of this agreement, Climeworks will remove a part of Boom's residual CO2 emissions from the atmosphere and permanently store it underground, helping Boom achieve net-zero carbon by 2025.
To meet Paris Agreement climate targets, the IPCC and United Nations COP26 highlighted that the world must pursue carbon dioxide removal alongside drastic reductions in existing emissions. DAC is a highly scalable technology to remove CO2 from the atmosphere. At scale, DAC will represent a crucial component of reaching net-zero carbon around the world. Researchers estimate that DAC has the potential to remove up to 310 billion tons of CO2 by 2100, enabling global warming to be capped at 1.5°C.
At Climeworks' direct air capture and storage facility "Orca" in Reykjavik, Iceland, CO2 is captured directly from the atmosphere and stored underground in basalt rock for thousands of years via the Carbfix method. This process results in truly permanent carbon removal. Climeworks' DAC technology is powered by 100% renewable energy and is considered among the highest quality carbon removal solutions on the market due to its permanence, measurability and scalability.
"At Boom, our commitment to a sustainable future is driven by a deep belief that travel can and should be a net good," said Kathy Savitt, president and Chief Business Officer for Boom Supersonic. "We're thrilled to collaborate with Climeworks, a pioneer in DAC technology, to help ensure that the supersonic future will be sustainable."
"Climate change is a crucial challenge of our time, requiring innovative solutions and radical thinking," said Christoph Gebald, co-CEO and co-founder of Climeworks. "Humanity's climate goals will only be met when innovation is applied to all sectors. We're excited to welcome Boom as our new long-term customer and help them address part of their residual emissions."
This agreement with Climeworks is the latest in a series of milestones Boom has achieved on its path to bring sustainable supersonic flight to millions of travelers. Overture, the company's flagship supersonic airliner, will be optimized for net-zero carbon operations and will be capable of flying on 100% sustainable aviation fuel (SAF). Boom is excited to work with partners committed to net-zero carbon Overture operations. Boom was also the first aircraft manufacturer to sign the Amazon Climate Pledge in 2020, committing to achieving the goals of the Paris Agreement by 2040.
To learn more about Boom's sustainability commitments, please visit:
https://boomsupersonic.com/sustainability
To learn more about Climeworks Direct Air Capture Technology, please visit:
https://climeworks.com/
About Boom Supersonic
Boom Supersonic is redefining commercial air travel by bringing sustainable, supersonic flight to the skies. Boom's historic commercial airliner, Overture, is designed and committed to industry-leading standards of speed, safety, and sustainability. Overture will be net-zero carbon, capable of flying on 100% sustainable aviation fuels (SAF) at twice the speed of today's fastest passenger jets. Overture's order book, including purchases and options, stands at 70 aircraft, and Boom is working with the United States Air Force for government applications of Overture. Named one of TIME's Best Inventions of 2021, the Boom XB-1 demonstrator aircraft rolled out in 2020, and its carbon neutral flight test program is underway. The company is backed by world-class investors, including Bessemer Venture Partners, Prime Movers Lab, Emerson Collective and American Express Ventures. For more information, visit https://boomsupersonic.com.
Connect with Boom Supersonic on Twitter, LinkedIn, Facebook, Instagram, YouTube
About Climeworks
Climeworks empowers people to reverse climate change by permanently removing carbon dioxide from the air.
One of two things happens to the Climeworks air-captured carbon dioxide: either it is returned to earth, stored safely and permanently away for millions of years, or it is upcycled into climate-friendly products such as carbon-neutral fuels and materials. The Climeworks direct air capture technology runs exclusively on clean energy, and the modular CO2 collectors can be stacked to build machines of any capacity.
Founded by engineers Christoph Gebald and Jan Wurzbacher, Climeworks strives to inspire 1 billion people to act now and remove carbon dioxide from the air.
Together we can build a climate-positive world.
Join us: Web, LinkedIn, Twitter, Instagram, Facebook
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SOURCE Boom Supersonic | https://www.whsv.com/prnewswire/2022/05/03/boom-supersonic-accelerates-towards-2025-net-zero-carbon-pledge-with-european-based-climeworks-deal/ | 2022-05-03T13:41:51Z |
The Stone Pro TB4 docking station takes full advantage of Thunderbolt™ 4 capabilities, giving power users the ability to be more productive by expanding their workspace with 12 ports
PARK CITY, Utah, May 3, 2022 /PRNewswire/ -- Brydge, a global leader in productivity accessories for the modern workplace, announced today their newest Thunderbolt™ 4 universal docking station - Stone Pro TB4. Compatible with Windows 10 & 11, macOS and ChromeOS devices. The Stone Pro TB4 is among the most powerful docking stations available, guarantees better performance, and is made for the user wanting a cable connection interface that supports fast data transfer, high resolution video and charging - all at the same time.
The Stone Pro TB4 was created for the power user who is looking to get the absolute best in terms of transfer speeds, displays, expansion and power. From designers, to photographers, to gamers, and tech enthusiasts, the Stone Pro TB4 provides innovation and reliability to those users that understand how valuable a product like this can be.
"A lot of thought went into the design of the new Stone Pro TB4, including feedback from our customer base," said Co-CEO & Founder Nick Smith. "This new product gives users more power and expansion than ever before. As more customers turn to Thunderbolt™ 4 devices, we wanted to create a docking station that allows them to transform their already powerful TB4 enabled laptop into a desktop powerhouse they can work efficiently and effectively with. With the new Stone Pro TB4 we've been able to do that."
With more ports to run multiple displays, external hard drives, GPU's and other high-end equipment, the Stone Pro TB4 delivers maximum power and speed to perform heavy computing tasks, in order to work efficiently and effectively on any and every project.
Brydge's Stone Pro TB4 includes several industry-leading features, including:
- More ports for more devices: Featuring 12 ports, including four Thunderbolt 4 ports, one USB-A 2.0, three USB-A 3.3, one SD Card reader, one gigabit Ethernet port, one 3.5mm audio port, and one dock power port, the new Stone Pro TB4 is the leading TB4 docking station for connectivity.
- Power and speed all in one: Compared to similar docks in the market, Stone Pro TB4 is extremely powerful offering a full 90 watts of power for charging your computer and transfer speeds up to 40 Gb/s in a sleek high-grade design.
- Designed to fit your workspace: Lay it down or stand it up, the Stone Pro TB4 is designed to maximize your deskspace. Simply connect your external devices to the hub, connect your computer, and go.
The Stone Pro TB4 is available in Black is available at www.brydge.com/products/stone-pro-tb4 and on Amazon for $329.99.
About Brydge
Brydge was started on a Kickstarter campaign in 2012 and is now the fastest growing tablet keyboard brand for the Apple iPad and Microsoft Surface. They are known for creating beautifully designed keyboards that combine the functionality of a tablet with the productivity of a laptop. Alongside its award-winning keyboards, they offer a range of premium mobile and desktop accessories including MacBook Vertical Docks, Docking Stations, Leather Organizers, Screen Protectors and Protective Cases.
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SOURCE Brydge | https://www.whsv.com/prnewswire/2022/05/03/brydge-redefines-workspace-with-stone-pro-tb4/ | 2022-05-03T13:41:58Z |
SAN DIEGO, May 3, 2022 /PRNewswire/ -- Today, Cardea Bio, Inc. - the world's only mass producer of biocompatible semiconductors - announced that it has been awarded a $1.1 million USD grant by the Bill & Melinda Gates Foundation to develop a BPU™ (Biosignal Processing Unit) assay with high sensitivity and specificity that incorporates receptors capable of detecting volatile compounds to rapidly diagnose infectious diseases in developing countries
The goal of this project is to verify the ability of Cardea BPUs functionalized with an insect Odorant Receptor [iOR] to detect an agonist odorant. Through previous projects, Cardea already has a solid understanding of the compatibility between iOR's and BPUs, meaning they are perfectly positioned to create an assay that demonstrates the feasibility of this detection methodology.
"We're obviously very pleased to have received funding from the Bill & Melinda Gates Foundation, and we're even more excited about the prospects of this project. Using our BPU™ Platform to bring novel and feasible diagnosis capabilities to developing countries was a major driver as to why we started Cardea in the first place. Developing an electronic nose with the potential to diagnose diseases like COVID, malaria, cancer, and so on, is literally a dream come true!" states Michael Heltzen, CEO at Cardea Bio.
Chief Business Officer at Cardea, Rob Lozuk, adds, "We're extremely excited about how this project aligns perfectly with our commitment to positively impact a broad set of healthcare conditions, such as infectious diseases, environmental, and even oncology. By leveraging the foundation's innovations and presence across the globe, this uniquely positions us to validate the potential capabilities of the BPU in bringing healthcare to all corners of our civilization and ultimately allowing people across the world to live healthy and productive lives."
A successful completion of this project will provide validation that the Cardea BPU™ Platform has the potential to meet the needs of a large variety of engineered OR-enabled products for sensing applications in clinical health, environmental monitoring, agriculture, and biosecurity to name a few. Cardea would then focus on developing a point-of-care [POC] testing device that can rapidly screen for common infectious diseases in developing countries.
The benefits of having a single platform capable of a wide range of detection and diagnostic applications enables a drastic reduction in development time and cost. Ultimately this is a benefit to developing countries by deploying a single instrument with application specific tests in a rapid and cost-effective manner, yielding the highest impact in critically underserved communities.
About Cardea Bio
Cardea Bio is the world's only mass producer of a biocompatible semiconductor, the BPU™ (Biosignal Processing Unit). The BPU is the first and only semiconductor capable of translating real-time streams of multiomics signals into digital information.
Through the BPU™ platform, Cardea's long-term vision is to democratize access to the biosignals and insights behind the most advanced technology on our planet: Nature and biology. The Internet of Biology is that way becoming possible.
Cardea is headquartered in San Diego and has additional activity in Los Angeles. Cardea is a 100% American developed and built biocompatible semiconductor technology for applications across a variety of sectors including human health, agriculture, molecular diagnostics, biotechnology, environmental monitoring, and animal health.
Contact Cardea
Lasse Görlitz, VP of Communications
US phone: +1 858 319 7135
EU phone: +45 2758 2601
publicrelations@cardeabio.com
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SOURCE Cardea Bio | https://www.whsv.com/prnewswire/2022/05/03/cardea-bio-receives-funding-develop-electronic-nose-rapidly-diagnose-infectious-diseases-via-breath/ | 2022-05-03T13:42:04Z |
DEERFIELD, Ill., May 3, 2022 /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) will offer a video webcast of its Investor Day on Tuesday, May 17, 2022, beginning at 10:25 a.m. CDT. Caterpillar Chairman and CEO Jim Umpleby and members of the company's Executive Office will provide a review of Caterpillar's enterprise strategy for profitable growth, with a focus on services, technology and sustainability.
In addition to the webcast, presentations made during the meeting will be available at https://investors.caterpillar.com/events-presentations/event-details/2022/Caterpillars-2022-Investor-Day/default.aspx. Participants should visit the website at least 30 minutes before the live event to register and to download and install any necessary software. A transcript of the presentations and discussions will also be available online after the meeting concludes.
With 2021 sales and revenues of $51.0 billion, Caterpillar Inc. is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we've been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels.
Certain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "forecast," "target," "guide," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements.
Caterpillar's actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) international trade policies and their impact on demand for our products and our competitive position, including the imposition of new tariffs or changes in existing tariff rates; (vi) our ability to develop, produce and market quality products that meet our customers' needs; (vii) the impact of the highly competitive environment in which we operate on our sales and pricing; (viii) information technology security threats and computer crime; (ix) inventory management decisions and sourcing practices of our dealers and our OEM customers; (x) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xi) union disputes or other employee relations issues; (xii) adverse effects of unexpected events; (xiii) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xiv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xv) our Financial Products segment's risks associated with the financial services industry; (xvi) changes in interest rates or market liquidity conditions; (xvii) an increase in delinquencies, repossessions or net losses of Cat Financial's customers; (xviii) currency fluctuations; (xix) our or Cat Financial's compliance with financial and other restrictive covenants in debt agreements; (xx) increased pension plan funding obligations; (xxi) alleged or actual violations of trade or anti-corruption laws and regulations; (xxii) additional tax expense or exposure, including the impact of U.S. tax reform; (xxiii) significant legal proceedings, claims, lawsuits or government investigations; (xxiv) new regulations or changes in financial services regulations; (xxv) compliance with environmental laws and regulations; (xxvi) the duration and geographic spread of, business disruptions caused by, and the overall global economic impact of, the COVID-19 pandemic; and (xxvii) other factors described in more detail in Caterpillar's Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.
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SOURCE Caterpillar Inc. | https://www.whsv.com/prnewswire/2022/05/03/caterpillar-offer-video-webcast-2022-investor-day/ | 2022-05-03T13:42:11Z |
DALLAS, May 3, 2022 /PRNewswire/ -- Today, leading equity strategist Tara Jaye Frank released her newest book, The Waymakers: Clearing the Path to Workplace Equity with Competence and Confidence. The book is on sale now via Amazon, Barnes & Noble, Amplify Publishing, and more.
In recent years, DEI (Diversity, Equity and Inclusion) initiatives have taken a national spotlight as organizations of all sizes aim to tackle workplace equity. Leaders are looking for ways to make lasting change within their organizations. Frank helps these leaders achieve their goals by presenting a compelling case for change while providing practical guidance on how to thoughtfully facilitate it.
"A Waymaker is a leader who uses their power and position to help others succeed. Historically-excluded persons who have accessed higher levels of professional belonging and achievement have succeeded not due to systemic changes alone, but because of leaders who chose to remove barriers, open doors, and guide them toward their goals," said Frank. "Waymakers are leaders who find ways to change processes and norms and unlock opportunity quickly for others."
Using case studies, data, and candid storytelling, The Waymakers outlines how leaders with power and position can clear the path to workplace equity by:
- discovering where they are on their equity journey today
- embracing the steps required to achieve true equity
- understanding what their employees really want
- developing a lens for the big barriers and intervention opportunities
- connecting the dots between meeting talent needs and unlocking company value
- recognizing when Waymaking matters most
- showing up—every day—as a leader who makes a way.
Learn more at www.wearethewaymakers.com.
About Tara Jaye Frank
Tara Jaye Frank is an equity strategist who has advised and educated thousands of Fortune 500 executives across multiple industries. Frank is the author of two books, The Waymakers: Clearing the Path to Workplace Equity with Competence and Confidence (May 2022) and Say Yes: A Woman's Guide to Advancing Her Professional Purpose (May 2015). Her work, fueled by a deep belief in the creative power and potential of every one, focuses on building bridges between people, ideas, and opportunity.
Before founding her culture and leadership consultancy, Frank spent twenty-one years at Hallmark Cards, where she served multiple roles, including Vice President of Multicultural Strategy and Corporate Culture Advisor to the President.
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SOURCE Amplify Publishing | https://www.whsv.com/prnewswire/2022/05/03/celebrated-equity-strategist-author-releases-compelling-book-designed-drive-equity-inclusion-workplace/ | 2022-05-03T13:42:18Z |
ST. LOUIS, May 3, 2022 /PRNewswire/ -- Centene Corporation (NYSE: CNC) announced today it will present at the Bank of America 2022 Healthcare Conference, to be held Monday, May 9-Friday, May 13, 2022, in Las Vegas.
Centene will present on Tuesday, May 10th at 8:40 a.m. Pacific Time (PT). A simultaneous live audio webcast is available at: https://bofa.veracast.com/webcasts/bofa/hc2022/idhB56LV.cfm.
A webcast replay will be available afterwards via the Company's website at www.centene.com, under the Investors section.
About Centene Corporation
Centene Corporation, a Fortune 25 company, is a leading healthcare enterprise that is committed to helping people live healthier lives. The Company takes a local approach – with local brands and local teams – to provide fully integrated, high-quality, and cost-effective services to government sponsored and commercial healthcare programs, focusing on under-insured and uninsured individuals. Centene offers affordable and high-quality products to nearly 1 in 15 individuals across the nation, including Medicaid and Medicare members (including Medicare Prescription Drug Plans) as well as individuals and families served by the Health Insurance Marketplace, the TRICARE program, and individuals in correctional facilities. The Company also serves several international markets, and contracts with other healthcare and commercial organizations to provide a variety of specialty services focused on treating the whole person. Centene focuses on long-term growth and the development of its people, systems and capabilities so that it can better serve its members, providers, local communities, and government partners.
Centene uses its investor relations website to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Centene is routinely posted and is accessible on Centene's investor relations website, http://investors.centene.com.
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SOURCE Centene Corporation | https://www.whsv.com/prnewswire/2022/05/03/centene-present-bank-america-2022-healthcare-conference/ | 2022-05-03T13:42:24Z |
JOPLIN, Mo., May 3, 2022 /PRNewswire/ -- Charlotte Western Railroad (CER), a wholly owned subsidiary of Jaguar Transport Holdings (Jaguar), began rail operations on May 2nd, 2022. It acquired leasehold rights to approximately 13 miles of track owned by the North Carolina Department of Transportation (NCDOT).
"We are excited for the opportunity to establish our first operation in North Carolina and the southeastern US," said Stu Towner, CEO of Jaguar. "The railroad's location, in a growing metro with access to both Norfolk Southern and CSX, along with the acquisition of a rail served warehouse, provides us with an excellent opportunity to serve current and future customers and earn the right to grow alongside them and the local community. We will immediately move forward with a large project in partnership with NCDOT to build a new multi-commodity and multi-mode transload facility on our warehouse property which will create highly efficient solutions for the customers we are bringing to the property. This project, along with our focused commercial efforts to build sites along the railroad that are ready for new customers, makes this a fantastic solution for customers in the Charlotte market."
Charlotte Western is the eighth shortline railroad for Jaguar, who has partnered with OPTrust, one of Canada's largest pension plans. Other Jaguar railroads include Missouri Eastern Railroad, Cimarron Valley Railroad, Southwestern Railroad, Washington Eastern Railroad, Oregon Eastern Railroad, Texas Eastern Railroad, and West Memphis Base Railroad.
About Jaguar Transport Holdings
Jaguar is a transportation and logistics company headquartered in Joplin, MO. Since 2018, Jaguar has focused on safety, team culture, service to customers, and innovation to help drive its growth. Jaguar operates eight short line railroads and multiple other rail served sites across the United States. Jaguar is partnered with OPSEU Pension Plan Trust Fund ("OPTrust"), which invests and manages one of Canada's largest pension funds and has significant experience investing in the surface transportation and logistics space. For more information, please visit www.jag-transport.com.
About OPTrust
With net assets of over $25 billion, OPTrust invests and manages one of Canada's largest pension funds and administers the OPSEU Pension Plan (including OPTrust Select), a defined benefit plan with over 100,000 members. OPTrust is a global investor in a broad range of asset classes including Canadian and foreign equities, fixed income, real estate, infrastructure and private markets, and has a team of highly experienced investment professionals located in Toronto, London and Sydney.
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SOURCE Jaguar Transport Holdings | https://www.whsv.com/prnewswire/2022/05/03/charlotte-western-railroad-commences-rail-operations/ | 2022-05-03T13:42:30Z |
AWS Premier Tier Services Partner Names Pavel Vasilyev as Chief Technology Officer and Ed Songaila as Vice President of Sales
SAN FRANCISCO, May 3, 2022 /PRNewswire/ -- ClearScale, a leading cloud systems integrator, announced the promotions of Pavel Vasilyev to Chief Technology Officer (CTO) and Ed Songaila to Vice President of Sales. The newly promoted executives will help guide the company's strategy to scale its cloud professional services and managed services to the largest organizations worldwide.
Vasilyev has been with ClearScale since 2017 and this is the third promotion he has received during his tenure with the company. Vasilyev will oversee an initiative that will combine all the company's cloud professional services under a single umbrella. The newly formed division will include presales, delivery, and managed services, all functioning as one unified team.
"I'm thrilled to be promoted to CTO at ClearScale because I can make a significant contribution to the rapid expansion of the company," Vasilyev said. "In terms of services and capabilities, we've been able to accomplish projects that companies with much more personnel have not been able to achieve. ClearScale has only begun to demonstrate its vast potential, and by investing in this organizational transformation, the company is on the fast track to unlimited growth."
Songaila was hired into the role of Director of Sales with ClearScale after nearly 10 years in sales management at CDW. In his new position as ClearScale's Vice President of Sales, Songaila will guide the strategic vision of the company's sales organization in alignment with Amazon Web Services (AWS), engage with customers at the executive level, and drive profitable top-line revenue growth.
"I'm very excited to join ClearScale, a company that's on a significant growth trajectory," Songaila said. "The reputation of ClearScale's engineering services is stellar and the executive leadership team is well-positioned to execute on our ambitious goals. We are ready to meet the moment of AWS' rapid expansion of market share in the cloud computing industry. ClearScale will ensure that our customers' goals are achieved through leveraging AWS, the world's best cloud computing platform, alongside ClearScale's renowned professional cloud services."
The promotions for Vasilyev and Songaila came after a year in which ClearScale significantly grew its customer base. The company has now delivered more than 1,000 cloud projects for over 500 customers since its founding in 2011. ClearScale is an AWS Premier Tier Services Partner that designs, implements, and manages innovative cloud solutions customized for each client, from SMBs to the enterprise.
"During his transformative tenure at ClearScale, Pavel has directed the profitable evolution of the company's cloud services offerings," said Pavel Pragin, CEO of ClearScale. "And Ed brings a wealth of cloud technology sales leadership experience to our company. With these leaders being promoted into their new roles at such a pivotal point in ClearScale's evolution, we're positioned to accelerate our growth trend as we continue delivering innovative cloud solutions for customers across all industries."
About ClearScale
ClearScale is a cloud-native systems integration, strategic consulting, and application development company founded in 2011. The company has successfully delivered more than 1,000 innovative cloud projects for clients ranging from startups to large enterprises and public sector organizations. ClearScale's AWS cloud experts design, implement, optimize, and manage customized cloud solutions that help customers achieve their business transformation initiatives. For more information, visit www.clearscale.com and follow us on LinkedIn, Twitter, and YouTube.
Contact
Public Relations
1-800-591-0442
info@clearscale.com
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SOURCE ClearScale | https://www.whsv.com/prnewswire/2022/05/03/clearscale-bolsters-executive-management-team-with-two-key-leadership-promotions/ | 2022-05-03T13:42:36Z |
OAKLAND, N.J., May 3, 2022 /PRNewswire/ -- Collagen Matrix, Inc., a leader in regenerative medicine, global manufacturer of collagen- and mineral-based medical devices, and Linden Capital Partners portfolio company, announced today the appointment of Wendell Raddatz as Vice President, Strategic Alliances.
Wendell joins Collagen Matrix after an extensive career in sales and business development with leading manufacturers of healthcare and consumer products. Wendell began his career with Proctor & Gamble before moving to Johnson & Johnson in progressive leadership roles in sales, marketing, and business development. He led sales for Nutricia North America, before taking on responsibility for customer marketing and national accounts at Covidien [now Medtronic]. More recently, Wendell led corporate customer experience efforts for Zimmer Biomet and Hologic, including functional leadership of pricing, contracting, service, clinical training, and GPO/IDN sales. Prior to joining Collagen Matrix, he served as Global Vice President of Sales for Metrex, a division of Envista Holdings. Wendell holds a bachelor's degree in Government from Wesleyan University.
Wendell's appointment reflects Collagen Matrix's strategy to create and expand alliances with valued partners to better satisfy the increasing demand for regenerative solutions. Wendell will work closely with Collagen Matrix customers to create new opportunities to advance a shared pursuit of meaningful innovation.
About Collagen Matrix, Inc.
Collagen Matrix, Inc. is a developer and manufacturer of collagen-based medical products used for tissue and bone repair and regeneration. Founded in 1997, Collagen Matrix is headquartered in Oakland, New Jersey and develops proprietary products that are sold to OEM customers on either a contract or private label basis across orthopedic, sports medicine, spine, dental, and neurosurgery end markets. The company also offers partnership opportunities including distribution, contract product development, and contract manufacturing services. For more information, please visit www.collagenmatrix.com.
About Linden Capital Partners Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country's largest dedicated healthcare private equity firms. Linden's strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested in over 40 healthcare companies encompassing over 200 total transactions. The firm has raised over $6 billion in limited partner commitments since inception. For more information, please visit www.lindenllc.com.
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SOURCE Collagen Matrix, Inc. | https://www.whsv.com/prnewswire/2022/05/03/collagen-matrix-inc-appoints-wendell-raddatz-vice-president-strategic-alliances/ | 2022-05-03T13:42:42Z |
Factoring five key data points into a single score for new and used ASICs will make purchase decisions easier
NEW YORK, May 3, 2022 /PRNewswire/ -- Compass Mining ("Compass" or "the Company"), the world's first and largest online marketplace for bitcoin mining hardware, hosting, and reselling, today announced an enhancement to their hardware selling and reselling: Compass Score. This new feature will help retail customers find the best value when purchasing an ASIC and hosting.
The Compass Score is comprised of several factors including: purchase price, monthly hosting cost, estimated online date, miner efficiency (TH/s), current network difficulty1, current bitcoin price and age of the machine. The scores will be used in both direct Compass sales and on the Compass Marketplace. The new Compass Score will assist retail customers in comparing their options; save their time from lengthy comparisons and simply see the highest rated options available
Whit Gibbs, CEO of Compass Mining, commented, "With each enhancement to Compass Mining, we keep trying to make our customers' decisions easier. Compass Score is designed to reduce confusion and enhance consumer confidence. Whether you are looking for a brand-new miner or a secondhand ASIC, the Compass Score will help you make the best choice to get you into bitcoin mining quickly and efficiently. Every time we look at a new feature, we ask ourselves: will this help everyone mine bitcoin? – and the Compass Score does that."
In phase two of Compass Score, resellers will get enhanced tools to understand the factors that impacted their score. This will give resellers a chance to analyze the score factors under their control to market their ASIC in a way to position them competitively within the marketplace. This feature will roll out later this year.
More information about the Compass Score can be found here: https://compassmining.io/hardware
About Compass Mining
Compass Mining is a bitcoin-first, proof-of-work mining hardware and hosting company on a mission to strengthen Bitcoin's network by democratizing hash rate. Compass' mining marketplace offers easy procurement, deployment of mining machines, and resale for institutional and retail clients. Compass also produces industry-leading research and educational content through a variety of tailored media product offerings. Mining is a notoriously opaque sector of the Bitcoin industry, but Compass now guides everyone's path to successfully mine bitcoin. Thanks to Compass, now everyone can mine bitcoin.
For more information on Compass Mining, visit https://compassmining.io/
Media Contact
Patrick B. Jordan
M Group Strategic Communications (For Compass Mining)
+1 646.859.5956
compassminingpr@mgroupsc.com
1 Considers the amount of hashrate present in the Bitcoin network as a factor in determining mining rewards
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SOURCE Compass Mining | https://www.whsv.com/prnewswire/2022/05/03/compass-score-mining-hardware-will-help-customers-make-better-decisions-faster/ | 2022-05-03T13:42:48Z |
LOS ALTOS, Calif., May 3, 2022 /PRNewswire/ -- Contrast Security (Contrast), a leader in code security that empowers developers to secure-as-they code, today announced it was named a Major Player in the IDC MarketScape: Worldwide Application Security Testing, Code Analytics, and Software Composition Analysis 2022 Vendor Assessment — Coordinating Security and Quality for Resilience and DevSecOps (doc #US47097521, March 2022).
The IDC MarketScape discussed how the company's technology "leverages binary instrumentation in which sensors are embedded within application servers, runtime and user libraries, and other components for vulnerability and attack detection. Contrast Security's hybrid approach (combining IAST, SAST, DAST, SCA, and runtime application self-protection [RASP]) enables contextualization, improving execution and the ability for developers to remediate issues while helping decrease the percentage of false positives (according to users with whom IDC has spoken)," according to Melinda-Carol Ballou, research director at IDC. In addition, during the Log4Shell crisis, the collective product capabilities supported Contrast users.
"Contrast's Access solution identified the underlying log-injection vulnerability while Contrast SCA started reporting vulnerable Log4J versions and Contrast Protect helped prevent harmful behaviors that attackers used to exploit Log4Shell, including untrusted deserialization and expression language injection," said Ballou in the report. "These combined AST, SCA and RASP efforts helped developers respond quickly."
Contrast works with global enterprises and their developers to build secure code through the software development process. Contrast takes a unique approach by combining static application security testing (SAST), dynamic application security testing (DAST), interactive application security testing (IAST), and run-time application self protection (RASP) with Software Composition Analysis (SCA). This provides enables contextualization, improving execution and the ability for developers to remediate issues while helping decrease the percentage of false positives.
"We are nowhere near the end of seeing major attacks like Log4J and Spring4Shell," said Jeff Williams, Co-founder and Chief Technology Officer at Contrast Security. "Hackers will continue to target common open source and free software libraries so enterprises need to invest and leverage Runtime Protection solutions, such as Contrast Protect, to identify weaknesses within their code and defend immediately without patching now."
IDC MarketScape's rigorous research methodology looks beyond market share and provides a clear framework comparing the product and service offerings, capabilities and strategies, and current and future market success factors for each vendor. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors. An excerpt of the IDC MarketScape report can be downloaded here.
About IDC MarketScape:
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
About Contrast Security:
Contrast Security secures the code that global business relies on. It is the industry's most modern and comprehensive Code Security Platform, removing security roadblock inefficiencies and empowering enterprise developers to write and release secure application code faster. Embedding code analysis and attack prevention directly into software with instrumentation, the Contrast platform automatically detects vulnerabilities while developers write code, eliminates false positives, and provides context-specific how-to-fix guidance for easy and fast vulnerability remediation. Doing so enables application and development teams to collaborate more effectively and to innovate faster while accelerating digital transformation initiatives. This is why a growing number of the world's largest private and public sector organizations rely on Contrast to secure their applications in development and extend protection to cloud and on-premise applications in production.
Media Contact:
Laura Asendio
Public Relations Manager
Contrast Security
pr@contrastsecurity.com
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SOURCE Contrast Security | https://www.whsv.com/prnewswire/2022/05/03/contrast-security-named-major-player-idc-marketscape-worldwide-application-security-testing-code-analytics-software-composition-analysis-2022-vendor-assessment/ | 2022-05-03T13:42:55Z |
Appointment Reinforces SEI's Commitment to Nurturing Environment of Respect and Belonging
OAKS, Pa., May 3, 2022 /PRNewswire/ -- SEI® (NASDAQ: SEIC) today announced that Denis Okema joined the company as its Director of Diversity and Inclusion. Okema will be responsible for leading SEI's diversity and inclusion efforts, as a leader in our Culture, Engagement, and Inclusion team. He will lead our efforts focusing on programming to enrich the company's culture and support employee engagement and belonging.
Okema is responsible for helping all of SEI foster an environment that gives a voice to employees with diverse backgrounds and experiences, as well as supporting key company strategies and programs, including Learning & Development, Coaching & Consulting, employee recruitment, and SEI's employee-led affinity groups. He will report to Marla Carson, Head of SEI's Culture, Engagement, and Inclusion team.
Dennis McGonigle, Chief Financial Officer at SEI, said:
"At SEI, we firmly believe that diverse perspectives and an inclusive environment create a more dynamic workforce and drive our company's success. We're committed to surrounding ourselves with leaders who possess the conviction to continue building brave futuresSM for our employees, clients, and communities. Informed by his life and professional experience, Denis will help us drive the diverse and inclusive culture we value. We're excited to welcome him to SEI, and we look forward to working with him as we live up to our values and further strengthen diversity and inclusion at SEI and within the financial services industry."
Okema said:
"I'm thrilled to join SEI, a company committed to taking purposeful action in cultivating an environment in which employees and community members feel both included and empowered. SEI's history and culture are rich with creativity and innovation, and I'm inspired by our company's mission to build brave futures through the power of connection. I'm excited to help build those connections with our employees, communities, and clients through diversity and inclusion to further enrich our culture and drive SEI's success."
Carson added:
"Along with his experience and unique perspective, Denis brings openness, authenticity, and learning mindset. As an advocate, speaker, and leader, Denis' intersectionality and focus on relationships, trust, and values will positively impact SEI. We're excited to work together to help shape our company's future, further enriching our culture and workforce."
Prior to joining SEI, Denis spent years as a consultant for diversity, equity, and inclusion in corporate nonprofit and education spaces and as Director for Diversity, Equity, and Inclusion with Cristo Rey Philadelphia. Okema earned his Bachelor of Science in development studies from Makerere University and his Master of Science in administration of human services from Chestnut Hill College, as well as a Professional Advanced Certification in Diversity and Inclusion from Cornell University School of Industrial and Labor Relations.
About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change and help protect assets—for growth today and in the future. As of March 31, 2021, SEI manages, advises, or administers approximately $1.3 trillion in assets. For more information, visit seic.com.
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SOURCE SEI Investments Company | https://www.whsv.com/prnewswire/2022/05/03/denis-okema-joins-sei-director-diversity-inclusion/ | 2022-05-03T13:43:02Z |
ARSC's 2022 Virtual Detroit Conference
EUGENE, Ore., May 3, 2022 /PRNewswire/ -- May 19–21, in partnership with the Detroit Sound Conservancy, the Association for Recorded Sound Collections (ARSC) kicks off its annual conference at 11:00 EDT with the search to discover why Detroit has been such a hotbed of musical talent. To answer that question, two Detroit-based experts interviewed musicians, song writers, arrangers, singers, editors, and DJs covering nearly every musical genre. They'll share clips from those interviews too.
With 50 different program sessions during the conference, join us live or decide exactly which sessions you want to watch and when, even up to 30 days after the conference ends.
More highlights: The Music Modernization Act changes the U.S. copyright law landscape. Archives and individuals are still figuring out just how to use the new tools made available to them. Want to improve that learning curve? Some of the nation's leading experts reveal how institutions are using the new law and how the public can too.
The achievements of the Women's Music Movement are finally gaining the attention they deserve. A fusion of feminist politics, woman-staffed sound production, and grassroots folk traditions created a bold new recording and performance network from 1972 to 2015. The acknowledged historian of this important movement shares how it all actually happened.
Matthew Barton from the Library of Congress speaks on how shortwave broadcasting became such a vital tool on the battlefield, helping fight widespread disinformation campaigns and media blockades.
Plus, timely updates on both the Early Recordings Initiative at the University of California, Santa Barbara and the Internet Archive's Great 78 Project.
Check us out at https://www.arsc-audio.org/conference/2022/ARSC2022_Program.pdf for the full program. The session grid is on pages 6–10. Detailed descriptions of sessions are on pages 13–32. Register at https://www.arsc-audio.org/conference.html. Discounts are available for students. ARSC members enjoy an even better value. Membership information is available at https://www.arsc-audio.org/join.html. There is no charge for credentialed members of the media. Inquiries: ARSC Executive Director at execdir@arsc-audio.org.
Photo: Dwight Adams, Detroit jazz trumpeter. Credit: Creative Commons; Jeff Dunn via Flickr; Attribution 2.0 Generic (CC BY 2.0)
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SOURCE Association for Recorded Sound Collections (ARSC) | https://www.whsv.com/prnewswire/2022/05/03/detroits-rich-musical-heritage-womens-music-movement-new-discoveries-national-international-preservation-front/ | 2022-05-03T13:43:09Z |
Digital Fitness Platform - FitOn - Announces the launch of FitOn Health and new programs focused on seniors and people managing chronic conditions
Published: May. 3, 2022 at 9:15 AM EDT|Updated: 27 minutes ago
No. 1 fitness app expands its reach in healthcare and wellness with the creation of condition care health courses and classes to invigorate the senior community.
LOS ANGELES, May 3, 2022/PRNewswire/ -- FitOn, the No. 1 fitness app and digital health & wellness platform, announced today the launch of FitOn Health whose offering will grow to include a broad range of content and services focused on driving health outcomes. FitOn partnered with world-renowned fitness experts Bob Harper, Debbie Siebers and others to develop classes and programs that help seniors of all ages and abilities stay active and fit. FitOn Health also includes an extensive range of expert-led courses for people managing chronic conditions to help them with lowering blood sugar, diabetes, stress, sleep, MSK, fall prevention and more. With the launch of FitOn Health, the company aims to bridge a gap in today's health and wellness offerings, an industry that often caters to the already fit and healthy.
This announcement comes on the heels of FitOn's acquisition of Peerfit in February 2022, which expanded FitOn's footprint in healthcare by gaining access to Peerfit's extensive reach with national health plans who serve both the senior and under 65 markets.
"From the beginning, our goal has been to democratize digital health & wellness with a truly innovative, engaging and motivating solution that does not require expensive equipment or have any other barriers to entry for our customers," said Lindsay Cook, Founder and CEO of FitOn. "With the launch of FitOn Health and our new senior programs and courses for chronic conditions, both FitOn and Peerfit customers will have access to best-in-class content developed specifically for populations that have been underserved by the health and wellness industry".
Now older adults and Medicare recipients will have access to engaging and invigorating classes specially tailored to them. These targeted programs are immediately available and provided at no extra cost for those people whose health plan includes Peerfit Move as a benefit. In addition, the FitOn Health courses geared towards managing chronic conditions will directly address social determinants of health, and in collaboration with health plan partners, help improve their STAR, HOS, CAHPS and HEDIS scores.
"Our health plan partners needed a solution to positively impact members' health conditions. While physical activity is hugely beneficial, it may not always be enough to achieve the level of health and wellness our members want." said Ed Buckley, CEO of Peerfit. "We are launching FitOn Health as the direct result of the feedback from our health plan partners, based on their needs and wants, to ensure that we are providing customized solutions for their members."
FitOn has taken the digital health & fitness landscape by storm since launching in 2019, growing to more than 12+ Million members by offering premium fitness workouts with its expert trainers and celebrity partners including Gabrielle Union-Wade, Julianne Hough, Halle Berry and Lindsey Vonn. In the first quarter of 2022, FitOn continued to expand its lead over competitors, driving more than +328% downloads vs Peloton Digital, +550% downloads vs iFit, +1100% downloads vs Beachbody (according to data.ai).
FitOn brings together the best at-home and in-the-gym experiences to support the health and wellness needs of consumers, employees and Medicare recipients while removing barriers to being active.
About FitOn FitOn is the ultimate health & fitness platform, revolutionizing the category with instant access to the widest variety of premium fitness classes, meditation and nutritional guidance. Train with the world's best trainers and celebrities–anytime, anywhere. Its unique social experience connects members with their friends, family and coworkers to make fitness fun and motivating. For more information, please visit: https://fitonapp.com
About Peerfit Peerfit is a market leader in connecting employers and health plans with personalized fitness experiences. Through their digital platform, insurance carriers, brokers, and employers can supercharge their benefits offerings by giving their members access to a network of fitness studios, gyms, and digital fitness services that caters to all activity levels. For more information, visit: peerfit.com or peerfitmove.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.whsv.com/prnewswire/2022/05/03/digital-fitness-platform-fiton-announces-launch-fiton-health-new-programs-focused-seniors-people-managing-chronic-conditions/ | 2022-05-03T13:43:15Z |
Samsung to deliver fully-virtualized and O-RAN-compliant 5G solutions to support DISH Wireless' advance of America's First Smart Network™
SEOUL, Korea and LITTLETON, Colo., May 3, 2022 /PRNewswire/ -- Samsung Electronics Co., Ltd. and DISH Network Corporation (NYSE: DISH) announce that Samsung Electronics was selected for the deployment of 5G Open Radio Access Network solutions across DISH Wireless' SMART 5G™ network. Per the multi-year agreement, the companies will collaborate to deploy Samsung's 5G O-RAN-compliant virtualized RAN (vRAN) solutions and radio units in markets across the U.S., supporting DISH's 5G commercial services.
"Samsung's 5G solutions will play an integral role in our network expansion, giving us the flexibility to deploy our cloud-native network with software-based solutions that support advanced services and operational scalability," said John Swieringa, president and chief operating officer, DISH Wireless. "We look forward to working with Samsung, whose industry leadership in vRAN and O-RAN innovation will help to support our vision of delivering open, interoperable cloud-based 5G services to consumers and enterprises across the U.S."
"Samsung is excited to join this 5G journey with DISH, a pioneer in bringing new experiences to households and businesses around the country, leveraging openness and virtualization that sit at the heart of network evolution," said Mark Louison, executive vice president and head of the Networks Business, Samsung Electronics America. "Our advanced 5G vRAN and radio solutions bring telco-grade quality and cloud-based agility together, building on these benefits to enable more customers to experience the full value of commercial 5G Open RAN."
Samsung Networks Business will supply DISH Wireless with its 5G and RAN solutions, vRAN software and a variety of O-RAN compliant radio units, including Massive MIMO radios. Samsung's vRAN can operate on any commercial off-the-shelf (COTS) server, while still delivering performance on par with traditional hardware-based equipment. With its cloud-native architecture, DISH's Open RAN deployment is based on open interfaces, allowing for multi-vendor interoperability and various deployment scenarios. The Samsung radios will also support all of DISH's Frequency Division Duplex (FDD) and Time Division Duplex (TDD) spectrum bands (including n71, n29, n66, n70, n48 and n77).
Handsets and Devices
DISH and Samsung's collaboration will extend to retail wireless customers, providing them with leading-edge 5G devices today and in the future, connecting customers to DISH Wireless' SMART 5G™ network.
"Our work with DISH Wireless is bringing many of Samsung's innovative mobile products and services to even more customers on the DISH Wireless network," said Jude Buckley, executive vice president of the Mobile Business, Samsung Electronics America. "We're excited to continue to work together to bring Samsung's powerful mobile products and services, which are compatible with the DISH network, to more customers."
"Together, we'll create solutions to bring DISH Wireless' smart network to life for retail and enterprise customers, enhancing their productivity, enriching their connection to people and smart technology, improving their business operations and giving our customers control over their 5G services," said Stephen Bye, executive vice president and chief commercial officer, DISH Wireless.
DISH is currently testing its 5G network using the Samsung Galaxy S22, and plans to continue using Samsung phones as a reference platform throughout the network deployment process.
About Samsung Electronics Co., Ltd.
Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at news.samsung.com
About Samsung Electronics America, Inc.
Headquartered in Ridgefield Park, N.J., Samsung Electronics America, Inc. (SEA), is a leader in mobile technologies, consumer electronics, home appliances and enterprise solutions. A wholly owned subsidiary of Samsung Electronics Co., Ltd., SEA is pushing beyond the limits of today's technology and providing consumers and organizations with a portfolio of groundbreaking products and services across mobile devices, connected appliances, home entertainment, 5G networks and digital solutions. To discover more about Samsung, please visit www.samsung.com. For the latest Samsung news, please visit news.samsung.com/us and follow us @SamsungNewsUS.
About DISH
DISH Network Corporation is a connectivity company. Since 1980, it has served as a disruptive force, driving innovation and value on behalf of consumers. Through its subsidiaries, the company provides television entertainment and award-winning technology to millions of customers with its satellite DISH TV and streaming SLING TV services. In 2020, the company became a nationwide U.S. wireless carrier through the acquisition of Boost Mobile. DISH continues to innovate in wireless, building the nation's first virtualized, O-RAN 5G broadband network. DISH Network Corporation (NASDAQ: DISH) is a Fortune 200 company.
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Former SAP leader Steve Shute brings 25+ years of experience leading large global GTM, sales and customer success organizations to help DocuSign scale
SAN FRANCISCO, May 3, 2022 /PRNewswire/ -- As it continues to digitally transform how agreements are prepared, signed, acted-upon and managed around the world, DocuSign (NASDAQ: DOCU) today announced the appointment of Steve Shute as its new President of Worldwide Field Operations.
"DocuSign has more than doubled its business over the past two years and is well on the path to becoming a $5 billion organization. To scale to even greater levels of success, last quarter we decided to unify our sales and success organizations under a new leader." said Dan Springer, CEO, DocuSign. "Steve brings valuable insight and experience directing go-to-market for more than 40,000 employees and leading several large departments including global sales and partners. Committed to creating high-performing, customer-centric and inclusive cultures, I have no doubt Steve is the right leader to help DocuSign further unlock the massive $50B TAM ahead."
Leveraging nearly three decades of experience leading global enterprise sales and success organizations at companies including SAP, IBM and Allscripts, Steve will help transition DocuSign to a unified sales and success organization with a focus on growth and delivering customer impact at scale. He will officially join the company on May 9, leading all regional sales and success teams and reporting directly to DocuSign CEO Dan Springer.
"Trust is the ultimate human currency. That extends from not only DocuSign's world class portfolio of Agreement Cloud offerings including eSignature, but also to the culture and relationships the company cultivates with employees, customers and its greater ecosystem partners," said Steve Shute. "I can't think of a more relevant company in today's digital and anywhere economy. I'm excited to build on this foundation of trust, passion and commitment to joint success to help our team fuel DocuSign's next growth chapter."
Most recently, Steve served as the president of Global Sales & GTM for Customer Success at SAP, and was responsible for the largest, most strategic customers and segments as well as SAP's global partner organization. Over his 10 years at SAP Steve also ran several large organizations including Industry teams, Pre-sales, Value Engineering, Success and Partnership groups. He began his career as a CPA and spent 14 years at IBM where he fast-tracked globally through a number of both U.S. and international senior executive roles before joining Allscripts as a Key Officer and EVP of Sales and Services. Steve is a Board Advisor to Coveo, Project44 and a Board Member of the 2022 Heart of Chicago campaign in affiliation with the American Heart Foundation. He holds an MBA from the University of Notre Dame's Mendoza College of Business and is a graduate of the University of Dayton.
For more information on DocuSign, visit www.docusign.com.
Media Relations
Megan Gregorio
Corporate Communications
media@docusign.com
About DocuSign
DocuSign helps organizations connect and automate how they prepare, sign, act on, and manage agreements. As part of the DocuSign Agreement Cloud, DocuSign offers eSignature, the world's #1 way to sign electronically on practically any device, from almost anywhere, at any time. Today, over a million customers and more than a billion users in over 180 countries use the DocuSign Agreement Cloud to accelerate the process of doing business and to simplify people's lives.
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SOURCE DocuSign, Inc. | https://www.whsv.com/prnewswire/2022/05/03/docusign-hires-new-president-worldwide-field-operations-drive-next-phase-growth/ | 2022-05-03T13:43:28Z |
DYNE Founder and CFDA Member to Bring his Expertise to the Iconic Outdoor Brand
BELLEVUE, Wash., May 3, 2022 /PRNewswire/ -- Eddie Bauer, the iconic outdoor brand, today announced the appointment of Christopher Bevans as its new Creative Director, where he will bring his vision and expertise to spearhead product design. In his new role, Bevans will bring his experience in sportswear and textiles to influence the overall line of products that balance technical innovation and current trends.
A Brooklyn-native and awarded fashion designer, Bevans moved to Portland, Oregon, in 2004 where he spent nearly two decades growing his passion for the outdoors. "Over the years living in the Pacific Northwest, my love of the outdoors has grown into a professional pursuit. I have been a longtime admirer of Eddie Bauer for its meticulous commitment to its quality and customers as well as the greater outdoor community, so this is a natural next step in my career. I'm looking forward to leaning into the brand's rich heritage to create products that balance the art of design with functionality," said Christopher Bevans.
"The appointment of Christopher Bevans is an important milestone for the Eddie Bauer brand. Using his unique perspective on tailoring, as well as cut and color, Christopher has already started to re-imagine the core Eddie Bauer styles and look of our product assortment," said Mike Schulam, VP of Merchandising, Eddie Bauer. "We're excited to see the impact that he will make as we continue to design for a range of adventurers and all of their outdoor experiences."
Bevans, a member of the CFDA, has been recognized for his work with DYNE by earning the 2017 Woolmark Innovation Prize and being named a 2017 CFDA/Vogue Fashion Fund finalist. He also serves as Senior Creative Lead at Shopify where he works closely with emerging fashion industry entrepreneurs. Bevans began his career in New York City, apprenticing at a local tailoring house of which he became the owner at the age of 19. His roots as an expert tailor developed into a passion that carried him to positions with top brands such as Billionaire Boys Club, Head (Tennis), Sean John, Yeezy, Smithsonian, New York Cosmos and the MacArthur Foundation. From 2003 to 2007, he was Design Director of Nike's Blue Ribbon Sports Division, and was instrumental in initiating Roger Federer's now-famous "RF" logo. In 2013, he was named a Massachusetts Institute of Technology Media Lab Director's Fellow.
To learn more about Eddie Bauer visit eddiebauer.com or follow @eddiebauer on Instagram.
About Eddie Bauer
For more than 100 years, outdoor brand Eddie Bauer has been inspiring, enabling, and empowering people to live their adventure with products that are built to last. Their performance outerwear, apparel, footwear, accessories, and gear are available at eddiebauer.com and more than 200 stores in the U.S., Canada, Germany, Japan, and other international markets.
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Emotional resilience, conflict management, and digital teamwork among new course topics designed to help learners navigate today's hybrid workplace
CAMBRIDGE, Mass., May 3, 2022 /PRNewswire/ -- edX, a leading global online learning platform from 2U (Nasdaq: TWOU), today announced the 10 partner proposals selected to receive grants totaling $1 million to develop courses in Essential Human Skills for the Virtual Age. These courses and programs will be centered on essential human skills such as leadership, communication, and emotional intelligence that are prioritized during hiring and critical in an increasingly virtual world.
The million-dollar pledge and request for proposals (RFP) was announced at the completion of 2U's acquisition of edX and reflects the organization's continued commitment to support free and open courses that increase access to high-quality education. All winning courses will include a free audit track to ensure the broadest possible global access. The RFP was just one of a number of new initiatives that leverage the combined strengths of 2U and edX to enable partners to quickly advance educational opportunities to meet learners' needs at scale.
"We were overwhelmed by partner participation in this RFP, receiving nearly 100 proposals from partners across five continents," said Anant Agarwal, edX Founder and 2U Chief Open Education Officer. "The immense support for this initiative demonstrates the edX community's commitment to create highly relevant and accessible educational experiences for learners worldwide. I'm delighted that this library of content will soon be available to help prepare people from all backgrounds to thrive in today's digital workplace."
All proposals underwent a rigorous review by an interdisciplinary internal board that evaluated each proposal against a variety of factors including adherence to the RFP brief, high-quality learning design, clearly articulated learning outcomes, and market relevance.
The selected proposals are as follows*:
- Arm Education: Business Models for Technology Innovators
- Davidson College: The Authentic Human in the Global Workplace
- HarvardX: Applied Psychology: Increasing Emotional Awareness and Personal Resilience
- Indiana University: Digital Teamwork and Business Skills
- Jesus College, Cambridge: Managing Digital Productivity and Wellbeing: The Workplace and Beyond
- UCLouvain: Psychology of Conflict Management
- Universidad Politècnica de València: Liderazgo y comunicación en equipos híbridos y remotos (Leadership and Communication on Hybrid and Remote Teams)
- University of Maryland, College Park: Designing and Delivering the Citizen Developer Training Program
- University of Queensland: The Future World of Work - An Immersive Digital Experience
- University of Wisconsin - Madison: Listening Skills for Today's Workplace
Researchers from Ladders found that high-paying remote job opportunities more than doubled during the first year of the pandemic and predict that 25% of all professional jobs in North America will be remote by the end of 2022. With remote work continuing to grow, strong human skills will be needed to ensure success in virtual and hybrid workspaces.
Courses are expected to be available as early as summer 2022. Learn more at discover.edx.org/essential-human-skills.
*Final course titles are subject to change.
edX is the education movement for restless learners and a leading global online learning platform from 2U, Inc. (Nasdaq: TWOU). Together with the majority of the world's top-ranked universities and industry-leading companies, we bring our community of over 42 million learners world-class education to support them at every stage of their lives and careers, from free courses to full degrees. And we're not stopping there — we're relentlessly pursuing our vision of a world where every learner can access education to unlock their potential, without the barriers of cost or location. Learn more at edX.org.
Media Contact: Kate Welk, media@2u.com
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SOURCE 2U, Inc. | https://www.whsv.com/prnewswire/2022/05/03/edx-awards-1-million-ten-partners-developing-free-courses-essential-human-skills-virtual-age/ | 2022-05-03T13:43:40Z |
WALLINGFORD, Conn., May 3, 2022 /PRNewswire/ -- Aware Recovery Care today announced it has appointed Erin Scraper as its new Chief Operating Officer. She will work closely with President, Dr. Andrea Auxier, to ensure daily operations run smoothly to support the new CEO, Dr. Brian Holzer's vision and strategy for the company.
Prior to joining Aware in February 2021 as Chief Strategy Officer, Scraper held various executive leadership positions in operations, quality, and strategy throughout her more than 18 years in the healthcare industry, with the last seven years focused on behavioral healthcare. Her extensive background includes deep knowledge on both the provider and payor sectors.
She has a bachelor's degree in business with an emphasis in marketing from Emporia State University. Additionally, she is a fellow of the University of Kansas Medical Center CHC Executive Fellowship Program and is a certified Project Management Professional.
"As Aware dreams big to remove barriers that prevent families from finding hope and help for addiction, it is imperative that our vision is backed by action," said Dr. Holzer. "Erin has the experience to help us improve access to vital services so that clients can achieve and maintain recovery."
"Erin's knowledge of our company and our industry will be imperative to the continued growth of the company, " said Dr. Auxier. "As more people turn to us to help them at their most vulnerable moment, the onus is on us to be excellent. I, and many others, look forward to working side-by-side with Erin to do just that."
About Aware Recovery Care
Aware Recovery Care is a mission-driven company challenging traditional approaches to the treatment of Substance Use Disorder (SUD). A pioneer in In-Home Addiction Treatment (IHAT™), Aware delivers evidence-based, personalized service. Led by a multidisciplinary team of professionals and paraprofessionals, the unique 52-week program is designed for impact, reaching clients and their families in their homes and communities. Aware's high-touch model improves the lives of people affected by addiction and creates irrefutable value for managed care plans and employers. Aware's outcomes clearly demonstrate that sustained recovery is achieved through deeper trust and genuine partnership.
In early 2021, Aware received an investment by Health Enterprise Partners (HEP), a growth equity firm whose investors include some of the largest health systems and health insurance plans in the United States. Aware now operates in nine states (CT, MA, RI, NH, ME, VA, OH, IN, FL) and is poised for hyper-growth and national expansion in partnership with established national and regional payors, employers, and other stakeholders.
Media Contact: Peter Gold at 860-874-7743 or peter_gold@goldorluk.com
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SOURCE Aware Recovery Care | https://www.whsv.com/prnewswire/2022/05/03/erin-scraper-named-chief-operating-officer-aware-recovery-care/ | 2022-05-03T13:43:47Z |
Evergreen Nephrology will partner with nephrologists to transform kidney care for patients across central Illinois and eastern Iowa
NASHVILLE, Tenn., May 3, 2022 /PRNewswire/ -- Today, Evergreen Nephrology is announcing a joint venture with RenalCare Associates, a specialty nephrology practice caring for patients in central Illinois and eastern Iowa. Evergreen Nephrology focuses on partnering with nephrologists in local markets to transform kidney care for patients and believes that nephrologists are best positioned to lead this charge.
Since 2015, more than 12,000 people per year died waiting for a transplant or were removed from the waiting list after becoming 'too sick to transplant.' Evergreen Nephrology and its nephrologist partners believe that the status quo is unacceptable and are committed to providing best in class care for people suffering from kidney disease. This includes delaying disease progression, shifting kidney care to the home, and getting patients needed organ transplants.
The United States spends more than $130 billion dollars a year fighting kidney disease, often because nephrologists are not involved in patient care early enough. Evergreen partners with nephrologists to provide them resources to invest in an expanded care model, the financial backing needed to take total cost of care risk, and a technical platform built for a value-based environment. Evergreen will also partner with dialysis providers and hospitals to share risk and enable better outcomes for patients.
"I am proud that Evergreen Nephrology is partnering with RenalCare Associates. When we founded Evergreen, we sought to totally transform the way a person with kidney diseases receives care, by putting physicians at the helm of value-based care. Our goal at Evergreen is to help create a better life for people living with kidney disease and, together with RenalCare Associates, we will do just that," said Adam Boehler, Co-Founder and Executive Chairman of Evergreen Nephrology. "Our partnership with RenalCare Associates empowers one of the best nephrology groups in the country with the full clinical, technical, and financial support to transform care for their patients."
"Our patients face many challenges managing their kidney disease. A fragmented system of care unable to address the most important needs should not be one of them. Our partnership with Evergreen will enable us to tailor education and care for each individual and family, navigate patients through the complexities of our healthcare system involving many providers, and even bring resources to address basic needs such as transportation, medications, food and housing," said Dr. Tim Pflederer, President at RenalCare Associates. "With a comprehensive value-based approach, we will be able to help patients avoid or delay dialysis, obtain a life-changing kidney transplant, and remain healthy – engaged at home and at work. RenalCare was first to offer life-saving dialysis to central Illinois residents when dialysis was invented in the early 1970's and for nearly 50 years we have continued to bring innovations in care that improve our patient's lives. Partnering with Evergreen was a natural next step towards ensuring that fewer people actually need dialysis treatments, and those that do can lead healthy, active lives."
About Evergreen
Evergreen Nephrology was built with the mission to transform kidney care by putting nephrologists in the driver's seat. By empowering nephrologists, providing financial backing, best-in-class clinical resources, and analytical insights and tools, Evergreen strives to slow disease progression, improve clinical outcomes, and increase quality of life for people living with CKD and ESRD. In addition to providing high quality healthcare and strategic partnerships, Evergreen intends to launch a Medicare Advantage Plan in 2023.
Evergreen Nephrology's Co-Founder and Executive Chairman Adam Boehler's drove efforts at the Centers for Medicare & Medicaid Services (CMS) Innovation Center (CMMI) and the department of Health and Human Services (HHS) to introduce the kidney care models (KCC) models that empower nephrologists as they care for their patients. In addition to transforming dialysis delivery, the HHS team set new standards for organ procurement to increase transplantation. Adam and fellow Co-Founder Abe Sutton were awarded the 2019 President's Medal from the American Society of Nephrology.
About RenalCare Associates
Since 1975, RenalCare Associates has been providing the highest quality care for patients with kidney disease and related conditions. Our mission is to provide patient-centered care that sets the standard for best practice, is proactive in disease management and focuses on highest value for those we serve. We fulfill that mission by working closely with patients and their families to diagnose and treat their kidney and hypertension problems with excellence, efficiency and empathy. RenalCare doctors and advanced practitioners live and work in a large portion of central Illinois and eastern Iowa surrounding Peoria, Bloomington-Normal, the Quad Cities, Galesburg and Ottawa.
For more information on Evergreen and Renal Care Associates:
www.EvergreenNephrology.com
www.illinoiskidney.com
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Family Zone to acquire Spanish global parental control leader Qustodio
- Family Zone to acquire global leader in parental controls Qustodio for US$52 million.
- The merger of the Qustodio business into the Family Zone group will significantly expand the company's capability and global footprint.
- The transaction is subject to approval from Spanish Foreign Direct Investment, the raising of capital by Family Zone, and Family Zone shareholder approval of the issue of securities to the vendors.
LOS ANGELES, May 3, 2022 /PRNewswire/ -- Qustodio and Family Zone today announced a definitive agreement under which Family Zone will acquire 100% of the shares in Qustodio and its subsidiaries in a transaction valued at US$52 million.
Based in Barcelona, Spain, Qustodio was founded by Eduardo Cruz, Josep Gaspar, and Josh Gabel in 2012. Today Qustodio is a global leader in family online safety, operating in eight languages to over 4 million users in more than 180 countries. Its channel partners are among the world's leading telecom operators in countries such as Spain, France, Singapore, Mexico, Japan, Brazil and Chile.
Qustodio's cross-platform solution allows parents and educators to protect children from online harm, while also promoting healthy digital habits and awareness. Its next generation tools help manage and balance screen time, block harmful content, and promote healthier online activity, allowing families and educators alike to build a safe, secure digital experience for every child.
The merger of the two companies will bring accelerated growth through scale and product expansion.
"The bringing together of Qustodio and Family Zone will be seen in time as a turning point in online safety globally. We are honored and excited to be welcoming the Qustodio team into our family". - Tim Levy, Managing Director Family Zone
"Qustodio and Family Zone share the view of a better world where schools, parents and children can work together to create safe and enriching online experiences. This shared vision has led us to unite forces and bring game-changing unified approaches in online safety to the market. Our combination will represent the creation of a truly global leader in online safety with unmatched scale and capabilities." - Eduardo Cruz, Co-founder & CEO Qustodio
The proposed transaction is subject to customary closing conditions, including the receipt of regulatory approval in Spain.
About Qustodio
Qustodio is the world leader in online safety and digital wellbeing for families. Since 2012, we have provided a cross-platform solution for families and schools, helping over 4 million parents and educators protect children from online harm, while promoting healthy digital habits and awareness. Available in over 180 countries in 8 languages, our digital wellbeing tools help families and schools live and navigate smarter in an increasingly connected world.
To learn more about Qustodio please visit www.qustodio.com
About Family Zone
Family Zone, supporting and protecting every child's digital journey, is an ASX-listed technology company and an emerging leader in the fast growing global cyber safety industry. Family Zone's unique innovation is its patented cyber safety ecosystem, a platform enabling a world-first collaboration between schools, parents and cyber safety educators. Family Zone's unique approach is delivering rapid growth in the education sector, as well as through direct sales and scalable reseller arrangements with telco providers.
To learn more about the Family Zone platform and the company please visit www.familyzone.com
Logo: https://mma.prnewswire.com/media/1744849/Qustodio_Logo.jpg
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SOURCE Qustodio | https://www.whsv.com/prnewswire/2022/05/03/family-zone-acquire-qustodio/ | 2022-05-03T13:43:59Z |
MEMPHIS, Tenn., May 3, 2022 /PRNewswire/ -- First Horizon Corp. (NYSE: FHN or "First Horizon") today announced that it has been selected for the 2022 Bloomberg Gender-Equality Index (GEI). For the fourth consecutive year, First Horizon is listed in the index which recognizes public companies for their commitment to supporting gender equality and advancing women.
"First Horizon strives to create a workplace where all associates feel accepted and valued," said Tanya Hart, executive vice president and chief human resources officer at First Horizon. "We believe that championing diversity and inclusion fosters a more creative and innovative workforce. We are proud to be included in the Bloomberg Gender-Equality Index and thank them for this recognition."
First Horizon's strategic approach to diversity, equity and inclusion focuses on elevating equity in the 4 strategic pillars of workforce, workplace, marketplace and community.
Workforce: At First Horizon, women represent approximately:
- 66% of the overall workforce
- 57% of manager roles
- 36% of the Executive Officers
- 24% of the Board of Directors
Workplace: The First Horizon Women's Initiative Associate Resource Group, founded more than 20 years ago, also played a major role in its GEI recognitions. The Women's Initiative helps female associates develop leadership skills, facilitate mentor-mentee relationships and network with leaders and executives.
Marketplace: Realizing that women have unique financial needs, First Horizon created Women and Wealth, a private client practice dedicated to empowering women's financial lives. More information about the practice may be found here. https://www.firsthorizon.com/products-and-services/private-client-category/women-and-wealth
Community: In 2021, Susan Springfield, Chief Credit Officer, served as the American Heart Association's 'Mid-South's Go Red for Women' chair. Through Susan's leadership, more than $325,000 was raised, marking the best 'Mid-South Go Red for Women' campaign to date. Go Red for Women is a national initiative of the American Heart Association that raises awareness of cardiovascular disease as the #1 killer of women. https://www.linkedin.com/posts/first-horizon-bank_memgored-goredforwomen-bettertogether-activity-6851191769141444608-w1dZ
"A culture of equity is built and maintained by having a diverse base of vendors, grantees, talent and clients that are reflective of the communities we serve," said Dr. Anthony C. Hood, executive vice president and chief diversity, equity and inclusion officer at First Horizon. "Having an intentional focus and strategic plan aligned to our business contributes to First Horizon's associate satisfaction, retention and loyalty in our markets across the Southeast." For more information visit https://www.firsthorizon.com/first-horizon-national-corporation/careers/diversity-and-inclusion
About First Horizon
First Horizon Corp. (NYSE: FHN), with $88.7 billion in assets as of March 31, 2022, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, mortgage, and title insurance services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.
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SOURCE First Horizon Corporation | https://www.whsv.com/prnewswire/2022/05/03/first-horizon-recognized-investment-women/ | 2022-05-03T13:44:06Z |
Proceeds from May Campaign to Support Free Rides to and from Cancer Treatment
SEATTLE, May 3, 2022 /PRNewswire/ -- FlowPlay, a Wind Creek Hospitality company and creator of one of the most powerful connected gaming platforms, announced the launch of a new in-game fundraising campaign to benefit the American Cancer Society (ACS). Today, FlowPlay kicks off a new fundraiser to continue momentum for ACS's work to fund cancer research, and provide programs and support for those facing a cancer diagnosis. Throughout the month, players within FlowPlay's flagship social casino, Vegas World, can contribute directly to ACS's Road To Recovery® program, helping ensure more patients can get to their potentially lifesaving treatment through free rides.
The Road To Recovery program is at the very heart of the American Cancer Society's work to remove barriers to accessing quality health care. People needing cancer treatment often cite transportation as a critical need - because even the best treatment can't work if the patient can't get there. Many patients need daily or weekly treatment, often over the course of several months, which is why the Road To Recovery program is so important. The program was paused during the COVID-19 pandemic due to public health concerns but has recently relaunched in several markets.
All Vegas World players will have the opportunity to donate directly to the American Cancer Society throughout the month of May by purchasing a virtual in-game branded charm. Through previous campaigns, FlowPlay has already raised more than $400,000 for ACS and is on track to cross half a million dollars by the end of 2022.
"Due to the pandemic, ACS has been without one of its most critical programs for the last two years. I'm honored to tap into the FlowPlay community to support the program's relaunch," said Derrick Morton, president, FlowPlay. "Our players never cease to amaze me with their generosity and I know this campaign will be no different."
The Road To Recovery program is also currently in need of volunteer drivers. Anyone wishing to volunteer as a driver can call the American Cancer Society at 1-800-227-2345.
"Being a Road To Recovery volunteer has been great! I continue to build relationships with the patients I have provided rides to," said Meg, a Washington Road To Recovery volunteer driver. "I have one patient who sends me quick thank you notes of appreciation. I am happy to be there to provide a ride when there is a need."
ACS is working around the clock to prioritize cancer screening and early detection, and to extend support to all those impacted by a cancer diagnosis. The pandemic had a major effect on nonprofits' ability to raise critical funds and donations are especially needed now to ensure the most lives will be saved. Anyone needing cancer information and support can call the American Cancer Society 24/7 helpline at 1-800-227-2345.
To learn more about the American Cancer Society and how to donate directly, please visit: http://www.cancer.org.
About FlowPlay
FlowPlay, a Wind Creek Hospitality Company, is the company behind the most powerful connected gaming platform for casual and sports wagering games, virtual worlds and social casinos. A developer, operator and publisher, FlowPlay serves both consumers and businesses with engaging online and mobile free-to-play experiences. Partners turn to FlowPlay for its extensive multiplayer infrastructure, industry-leading monetization rates and proven track record helping businesses launch custom-branded online games. FlowPlay's consumer products include Vegas World, the industry's most engaging multiplayer social casino, Casino World, the company's most grandiose, interactive and community-driven free-to-play social casino with tycoon gameplay, and 7 Seas Casino, the company's newest virtual world, multiplayer social casino which takes place on a cruise ship that stops at a different international port each month. In addition, the company recently launched Live Game Night Poker, a one-of-a-kind, invite-only poker game with built-in video and audio conferencing, which is also available within the Zoom App Marketplace. Together, FlowPlay's games have been played by a loyal community of more than 30 million users around the world. FlowPlay dominates a cross-section of industries including online and mobile games, fantasy sports and casinos – consistently creating opportunities in high-growth and emerging markets. Based in Seattle, FlowPlay was founded in 2006 and was primarily funded by Intel Capital and the creators of Skype. For more information, visit www.FlowPlay.com or contact bizdev@flowplay.com.
About Wind Creek Hospitality
Wind Creek Hospitality is an authority of the Poarch Band of Creek Indians (the Tribe). Wind Creek Hospitality manages the Tribe's casino gaming facilities, including: Wind Creek Atmore, Wind Creek Wetumpka, Wind Creek Montgomery, Wa She Shu Casino in Nevada, Renaissance Aruba Resort & Casino, Renaissance Curacao Resort & Casino as well as racetracks in Alabama and Florida. For more information, visit: https://windcreekhospitality.com/.
About the Poarch Band of Creek Indians
The Poarch Band of Creek Indians is the only federally recognized Indian Tribe in the state of Alabama, operating as a sovereign nation with its own system of government and bylaws. The Tribe operates a variety of economic enterprises, which employ thousands of area residents. For more information, visit: www.pci-nsn.gov.
PR Contacts
FINN Partners for FlowPlay
flowplay@finnpartners.com
Kari Dahlstrom
American Cancer Society
kari.dahlstrom@cancer.org
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SOURCE FlowPlay | https://www.whsv.com/prnewswire/2022/05/03/flowplay-launches-in-game-fundraiser-rev-up-support-relaunched-american-cancer-society-road-recovery-program/ | 2022-05-03T13:44:13Z |
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