text stringlengths 65 123k | url stringlengths 25 420 | crawl_date timestamp[us, tz=UTC]date 2022-04-01 01:00:57 2022-09-19 04:34:04 |
|---|---|---|
ST JULIANS, Malta, Aug. 16, 2022 /PRNewswire/ --Gaming Innovation Group Inc. (GiG) reports Q2 2022 revenues* of €22.1 million and an adjusted EBITDA of €8.3 million.
"The strong momentum that we carry forward in Q2 and the exciting milestone of completing the acquisition of Sportnco on April 1st, position our business for continued growth and escalating profitability levels", says Richard Brown, CEO of GiG.
Financial Highlights
- All time high revenues* in Q2 2022 amounting to €22.1m (16.1), an increase of 37% YoY, whereof 24% organic
- Adjusted EBITDA was €8.3m (5.6), up 47%, adjusted EBITDA margin* increased to 37.5% (35.0)
- EBIT was €2.4m (2.3), with an EBIT margin* of 10.8% (14.3%)
- Revenues in GiG Media at all-time high of €14.8m (11.0), an increase of 35%, with an all-time high adjusted EBITDA of €7.0m (5.3)
- Revenues* for Platform & Sportsbook were €7.3m (5.1), an increase of 43% whereof 2% organic (12% organic growth excl. premium fees), with an adjusted EBITDA of €1.3m (0.3)
- Positive net profit of €1.3m (-0.5) with an EPS of €0.01
- Positive cash flow from operations of €9.5m (3.5)
Operational Highlights
- Acquisition of Sportnco completed on 1 April
- GiG Media reached a sixth successive all-time high in quarterly revenue and player intake, FTDs ended at 79,400 (46,800), up 70%
- Signed with Tier 1 retail operator Aspers in the UK for the provision of its turnkey managed service solutions
- First agreement combining the offering from both GiG and Sportnco was signed with Full Games in Angola for both Sportsbook, PAM and managed services, positioning GiG in the exciting emerging African markets
- Signed head of terms agreement with US based sports betting brand, Crab Sports, to provide Platform and Sportsbook solution in Maryland, the first deal for the combined offering in the US
- Four additional agreements signed in the quarter, including extension with Betway for the provision of Sportsbook and PAM for Portugal, and new market entries in Spain and Colombia
- Number of live brands were 58 at quarter end
- GiG Media was awarded "best casino affiliate" award at the IGB Affiliate Awards in London
Events after Q2
- Signed an agreement with Betsson Group for platform in Colombia
- Signed extension with Grupo Boldt in Latam for two additional regulated markets for their Bplay brand
- Granted a supplier license for Ontario, allowing GiG to partner with operators based in the newly regulated Canadian province
- Three brands have gone live so far in Q3 2022, and the remaining integration pipeline projects are progressing towards their project plans
- July has developed positively, and revenues are up 37% compared to the same period last year, whereof 24% organic growth
*Revenues are adjusted for revenues from a platform client where GiG recognizes the full operations in its profit and loss statement, which are partly offset by related cost of sales and site overheads. Cost of sales, marketing expenses and EBITDA-margin are adjusted accordingly. See Note 2 in the Q2-2022 Interim Report for more details.
Investor presentation and webcast
CEO Richard Brown will present the Q2 2022 results via livestream at 10:00 CET. The presentation will be followed by a Q&A-session, and investors, analysts and journalists are welcome to participate. The presentation will be given in English.
Link to the livestream:
https://www.redeye.se/events/849940/live-q-gaming-innovation-group-4
For further information, contact:
Richard Brown, CEO of GiG, richard.brown@gig.com +34 661 599 025
Tore Formo, Group CFO, tore@gig.com +47 91668678
This information is information that Gaming Innovation Group Inc. (GiG) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 16 August 2022.
About Gaming Innovation Group (GiG)
Gaming Innovation Group is a leading iGaming technology company, providing solutions, products and services to iGaming Operators. Founded in 2012, Gaming Innovation Group's vision is 'To be the industry leading platform, sportsbook and media provider delivering world class solutions to our iGaming partners and their customers. GiG's mission is to drive sustainable growth and profitability of our partners through product innovation, scalable technology and quality of service. Gaming Innovation Group operates out of Malta and is dual-listed on the Oslo Stock Exchange under the ticker symbol GIG and on Nasdaq Stockholm under the ticker symbol GIGSEK. www.gig.com
Legal disclaimer
Gaming Innovation Group Inc. gives forecasts. Certain statements in the report are forward-looking and the actual outcomes may be materially different. In addition to the factors discussed, other factors could have an impact on actual outcomes. Such factors include developments for customers, competitors, the impact of economic and market conditions, national and international legislation and regulations, fiscal regulations, the effectiveness of copyright for computer systems, technological developments, fluctuation in exchange rates, interest rates and political risks.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE Gaming Innovation Group | https://www.whsv.com/prnewswire/2022/08/16/gaming-innovation-group-reports-q2-2022/ | 2022-08-16T07:03:17Z |
SHENZHEN, China, Aug. 16, 2022 /PRNewswire/ -- It is well-known that most consumer FDM 3D printers are printing quite slow. Even with a simple model, it may takes hours to finish. However, in the year of 2022, things are different. High-speed 3D printer is going to market.By early September, Geeetech is launching a new high-speed 3D printer named THUNDER on Kickstarter for early birds. Thunder will come with high printing speed, all-metal designed body, super strong cooling system and big printing volume.
After 2 years of engineering since 2020, Geeetech has gained mature technology which enables THUNDER to print in high speed while no compromise to quality. According to trusted sources from Geeetech, the printing speed of THUNDER can reach up to 300mm/s with acceleration of 5000mm/s² for X-axis and 4000mm/s² for Y-axis. With same model and same printing quality, users can save 30%-70% printing time according to the complexity of the model.
See video about Geeetech THUNDER Benchy Printing Test
https://www.youtube.com/watch?v=Vz2eeljuVKw
Geeetech adopted dual drive gear extruder, high power heating module and large volume nozzle for extrusion, and 5 cooling fans for hotend and model cooling. From the melting of filament to extrusion and cooling, THUNDER gains further better performance than traditional FDM 3D printers. Thunder's high speed 3D printing cannot be achieved without the efficient extrusion system, strong cooling system, while the all-metal body with dual Z axis design ensures stability of the machine when it is printing and moving in high speed.
Thunder offers a printing volume of 250*250*260mm and come with 5 different printing modes for different printing needs. It also supports other functions like break-resuming capability, password protection etc. Geeetech will start Kickstarter project for THUNDER by early September, the price starts from $399 for early birds. Geeetech is conducting a subscription and giveaway activity on their official website for THUNDER, if customers are interested in getting more details about the THUNDER, check details here:
https://www.geeetech.com/specialpage/thunder/
View original content to download multimedia:
SOURCE Geeetech | https://www.whsv.com/prnewswire/2022/08/16/geeetech-launches-new-3d-printer-thunder-high-speed-3d-printing-up-300mms/ | 2022-08-16T07:03:23Z |
All figures in USD unless stated otherwise
TORONTO, Aug. 16, 2022 /PRNewswire/ - Halo Collective Inc. ("Halo" or the "Company") (NEO: HALO) (OTCQB: HCANF) (Germany: A9KN) today announces its financial and operational results for the three and six months ended June 30, 2022 ("Q2 2022").
- Revenue of $6.9 million, net of inter-company eliminations, down 24.8% compared to $9.1 million in Q2 2021. Revenue was impacted by a significant downturn in both the California and Oregon markets.
- Total sales were 2.0 million grams, a 59.4% decrease compared to 5.0 million grams in Q2 2021. Flower sales decreased by 6.2% to 1.1 million grams compared to 1.2 million grams in Q2 2021, sales of pre-rolls increased by 11.5% to 257,245 grams compared to 230,655 grams in Q2 2021, no trim and fresh frozen sales, oils and extract sales decreased by 68.3% to 597,088 grams compared to 1.9 million grams in Q2 2021, and edibles sales decreased by 88.8% to 24,820 grams compared to 221,134 grams in Q2 2021.
- The Company reported a gross profit of $2.1 million, or 31.9% gross margin, compared to gross profit of $2.2 million, or 24.1% gross margin, in Q2 2021.
- Adjusted EBITDA[1] loss of $4.1 million compared to an Adjusted EBITDA loss of $4.4 million in Q2 2021.
- The Company repaid $7.7 million in debt financing and raised $8.0 million from convertible debentures.
- As of June 30, 2022, the Company had unrestricted cash available in the amount of $1.6 million.
- In California, Halo has decided not to build out Ukiah Ventures and has sold the land associated with it. The sale of the land closed on June 30, 2022, resulting in a reduction of debt of $1.53 million, yielding net proceeds of approximately $588,000 including a seller note secured against the property for $400,000.
- Halo received regulatory approval to open three Budega™ brand retail dispensaries in Los Angeles, California. The first location opened in North Hollywood on March 14, 2022, followed by a store in Westwood, which opened on May 27, 2022. Halo plans to open its flagship store in Hollywood in the latter half of 2022. These stores will increase distribution and market awareness of Halo's proprietary brands and products in California.
On April 28, 2022, Halo Tek Inc. ("Halo Tek"), a wholly-owned subsidiary of the Company, filed a preliminary long form prospectus with the securities regulatory authorities in each of the provinces and territories of Canada, other than Québec, for the purpose of qualifying the distribution of all of the issued and outstanding common shares in the capital of Halo Tek held by Halo as a return of capital. As previously announced, on April 1, 2021, the Company intends to pursue a spin-off of certain of its software, device and intellectual property assets into Halo Tek. The spin-off of Halo Tek is expected to be completed by year end.
"The important work of defining the next phase of Halo's evolution is well underway, as we leverage our strong positioning on the West Coast to effectively execute our vertically integrated, seed-to-sale strategy," commented Katie Field, Executive Chairman and Chief Executive Officer. "We are sharpening Halo's strategic focus, operating smarter, and have transitioned leadership to a new team who will carry out the refreshed plan. The goal is to leverage our existing assets with a focus on near-term payback, which has led us to take numerous actions across the Company to improve operations and shed non-productive assets."
"During the quarter, we ramped up efforts in our brand sales business, specifically Hush and Budega which are resonating with West Coast consumers and continued the retail rollout in Los Angeles where we opened the second of three planned dispensaries. Meanwhile, we de-emphasized other areas such as bulk wholesale flower and trim sales which generated good revenue but yielded lower profitability. And, we have made the decision to walk away from other parts of the plan altogether such as the Ukiah Ventures buildout and Canadian retail."
"Our efforts to do more with less are already paying off. In the second quarter, we maintained steady gross margins despite the downward pressure on wholesale pricing and volumes across our markets. We have also made progress reducing Halo's indebtedness through debt paydowns."
Concluded Ms. Field, "Importantly, we are transforming the Company into a focused West Coast operator amidst market conditions in California and Oregon that continue to be very challenging, but longer-term, are expected to be fertile grounds for significant growth and profitability for well-positioned companies such as Halo. I am highly confident that Halo is on the right path as a leader in these attractive markets. The initiatives we are undertaking, including those in the second quarter, will strengthen the Company and ultimately enhance shareholder value."
Revenue
Q2 2022 revenues were $6.9 million, net of inter-company eliminations, compared to $9.1 million Q2 2021, a 24.8% decrease. In Q2 2022, Oregon generated $3.8 million in revenue compared to Q2 2021 revenue of $7.5 million. In Q2 2022, the California wholesale business generated revenues of $2.1 million compared to $1.6 million in Q2 2021, an 32.1% increase. The first Budega retail location in North Hollywood, which opened in March 2022, added revenues of $289,307 in Q2 2022. Kushbar was consolidated in July of 2021 and added revenues of $687,986 in Q2 2022.
Total Q2 2022 sales were 2.0 million grams compared to sales of 5.0 million grams in Q2 2021, a 59.4% decrease. Between Q2 2022 and Q2 2021 Flower sales decreased by 6.2%, sales of pre-rolls increased by 11.5%, oils and extract sales decreased by 68.3% and edibles sales decreased by 88.8%.
Gross Profit
The Company reported a gross profit of $2.1 million, or 31.9% gross margin, compared to gross profit of $2.2 million, or 24.1% gross margin, in Q2 2021. For Q2 2022, Oregon generated $1.4 million in gross profit with a 37.4% gross margin, compared to Q2 2021 gross profit of $2.1 million with a 27.6% gross margin.
Liquidity and Cash Balance
As of June 30, 2022, the Company had available cash in the amount of $1.6 million. On March 16, 2022, the Company entered into an additional financing agreement of C$65.0 million with Global Tech Opportunities 6 in the form of convertible debentures.
Complete results are reported in the Company's consolidated financial statements for the three and six months ended June 30, 2022, and associated management's discussion and analysis (the "Q2 2022 MD&A").
Halo is focused on the United States West Coast, where it has vertically integrated operations covering the entire value chain from seed to sale. Halo cultivates, extracts, manufactures, and distributes quality cannabis flower, pre-rolls, vape carts, edibles, and concentrates. Halo sells these products under a portfolio of brands, including Hush™, Winberry Farms™, its retail brand Budega™, and license agreements with Papa's Herb®, DNA Genetics, and FlowerShop*. In addition, Halo has opened two dispensaries in Los Angeles under the Budega™ brand in North Hollywood and Hollywood, with plans to open one more in Hollywood in the third quarter of 2022.
In the non-THC sector, Halo is expanding into health and wellness categories, including CBD and functional supplements such as nootropic nutraceuticals and non-psychotropic mushrooms. Halo, through a series of acquisitions, has product offerings in the form of beverages (H2C Beverages), dissolvable strips (Dissolve Medical), capsules (Hushrooms™), and topical supplements (Hatshe) with proposed national distribution via a strategic agreement with SWAY Energy Corporation.
Halo has successfully acquired and integrated a variety of companies which were subsequently reorganized to create Akanda Corp. (NASDAQ: AKAN), an international medical cannabis and wellness company, of which Halo currently owns 12,674,957 common shares worth approximately $12 million as of August 15, 2022. Halo has also acquired a range of software development assets, including CannPOS, Cannalift, CannaFeels, and a discrete sublingual dosing technology, Accudab. Halo intends to reorganize these entities (including their intellectual property and patent applications) into a subsidiary called Halo Tek Inc. and to complete the distribution of the shares of Halo Tek Inc. to shareholders on record at a date to be determined.
For further information regarding Halo, see Halo's disclosure documents on SEDAR at www.sedar.com.
Connect with Halo Collective: Email | Website | LinkedIn | Twitter | Instagram
Adjusted EBITDA is a non-IFRS financial measure that the Company uses to assess its operating performance and does not have any standardized meaning prescribed by IFRS. Management defines Adjusted EBITDA as earnings (loss) before interest, tax, depreciation, and amortization, as adjusted for non-cash items. Adjusted EBITDA is provided to assist management and investors in determining the Company's operating performance. The Company also believes that securities analysts, investors, and other interested parties frequently use Adjusted EBITDA in the evaluation of companies, many of which present similar metrics when reporting their results. As other companies may calculate Adjusted EBITDA differently than the Company, Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies. We caution readers that Adjusted EBITDA should not be substituted for determining net loss as an indicator of operating results, or as a substitute for cash flows from operating and investing activities. For a reconciliation of Adjusted EBITDA, please refer to "Non-IFRS Measures" in the Q2 2022 MD&A, which is available on the Company's SEDAR profile at www.sedar.com.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Halo's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Halo's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Forward-looking information may relate to anticipated events or results including, but not limited to the Company's plans regarding its flagship dispensary in Hollywood, including the expected opening date thereof; the ability of the Hollywood stores to increase the distribution and awareness of the Company's products; the proposed spin-off with Halo Tek and the expected timing thereof; the Company's plans regarding its strategic priorities for 2022; and management's expectations regarding the ability of the Company's strategic refocusing to enhance shareholder value.
By identifying such information and statements in this manner, Halo is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Halo has made certain assumptions. Although Halo believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: inability of management to successfully integrate the operations of acquired businesses, changes in the consumer market for cannabis products, changes in the expected outcomes of the proposed changes to Halo's operations, the proposed spin-out with Halo Tek Inc., delays or unforeseen costs incurred in connection with construction, the ability of competitors to scale operations in Northern California, delays or unforeseen difficulties in connection with the cultivation and harvest of Halo's raw material, changes in general economic, business and political conditions, including changes in the financial markets; and the other risks disclosed in the Company's annual information form dated March 31, 2022 and other disclosure documents available on the Company's profile at www.sedar.com. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Halo does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Halo or persons acting on its behalf is expressly qualified in its entirety by this notice.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release includes trademarks, such as "Budega", "Hush", "Winberry Farms" and "Hushrooms" which are protected under applicable intellectual property laws and are the property of Halo. Solely for convenience, our trademarks referred to in this news release may appear without the ® or TM symbol, but such references are not intended to indicate, in any way, that we will not assert our rights to these trademarks, trade names and services marks to the fullest extent under applicable law. Trademarks which may be used in this press release, other than those that belong to Halo, are the property of their respective owners.
View original content to download multimedia:
SOURCE Halo Collective Inc. | https://www.whsv.com/prnewswire/2022/08/16/halo-collective-reports-second-quarter-2022-financial-results/ | 2022-08-16T07:03:30Z |
SEOUL, South Korea, Aug. 16, 2022 /PRNewswire/ -- J INTS BIO announced that the pre-clinical data of its novel, orally administered 4th generation EGFR TKI 'JIN-A02' was presented on the 8th of August, at the 2022 IASLC World Conference on Lung Cancer held in Vienna, Austria, during the official session entitled "Overcoming Resistance to EGFR Inhibitors".
Prof. Cho Byoung-chul, Director of the Lung Cancer Center at Yonsei Cancer Hospital, Korea, presented data which indicates that 'JIN-A02' targets NSCLC cancers harboring double or triple C797S mutations.
In-vitro and in-vivo data of 'JIN-A02' showed robust inhibitory activities against NSCLC cancer cell-lines harboring double and triple C797S mutations, with selectivity away from EGFR Wild Type, which is important for patient safety.
In addition, 'JIN-A02' also effectively reduced tumor volume in a dose-dependent manner, compared to Osimertinib, in mouse model harboring EGFR C797S triple mutation, showing high brain penetrance with efficacy. Prof. Cho ended his presentation by putting forth that JIN-A02 may be the Best-In-Class 4th generation EGFR-TKI against NSCLC.
About J INTS Bio
J INTS BIO is a bio company specialized in developing innovative anti-cancer and orphan drugs to realize the goal of changing lives and improving health for patients around the world. J INTS BIO's teams have prior multi-year experience in multinational pharmaceutical companies and CROs and track records in medical, regulatory affairs, drug discovery and development.
About JIN-A02
'JIN-A02' is a novel orally administered 4th Generation EGFR TKI targeting C797S mutations in NSCLC. Although 1st, 2nd, and 3rd Generation EGFR TKIs have been used with some success, recurrence occurs in most patients including 3rd Generation TKIs such as Osimertinib. Currently, there are no approved therapies for patients who developed EGFR C797S mutations due to the use of 3rd Generation EGFR TKIs and with the high propensity of these cancers to metastasize to the brain, there is an urgent need to develop an effective drug with high blood-brain barrier permeability. 'JIN-A02', a novel oral EGFR TKI, which is effective against C797S mutations and have a high brain penetrance, is therefore expected to become the most promising Best-in-Class 4th-generation EGFR TKI in NSCLC patients with limited or no viable treatment options.
View original content to download multimedia:
SOURCE J INTS BIO | https://www.whsv.com/prnewswire/2022/08/16/j-ints-bio-oral-presentation-preclinical-results-its-novel-oral-4th-generation-egfr-tki-jin-a02-2022-world-conference-lung-cancer-vienna-austria-iaslc-2022-wclc/ | 2022-08-16T07:03:37Z |
Declares ILS 40 Million, 0.28 per share One-Time Dividend
CAESAREA, Israel, Aug. 16, 2022 /PRNewswire/ -- Max Stock Limited (TASE: MAXO) (the "Company") today reported financial results for second quarter ended June 30, 2022.
Second Quarter 2022 Summary Compared with Second Quarter 2021
- Revenue increased 13.0% to ILS 252.7 million.
- Gross profit increased 15.8% to ILS 99.2 million.
- Comparable store sales increased 2.8%.
- Adjusted EBITDA1 decreased 4.5% to ILS 29.3 million.
- Adjusted net income decreased 18.0% to ILS 18.3 million.
- Adjusted EPS2 (attributable to shareholders) decreased 19.0% to ILS 0.11
The Company views comparison to the 2019 period to be more meaningful than the comparable 2021 period given the exceptional COVID-19 related consumer demand changes experienced in the same period in 2021.
Second Quarter 2022 Summary Compared with Second Quarter 2019
- Revenue increased 41.9%.
- Comparable store sales increased 18.1%.
- Adjusted EBITDA1 increased 9.0%.
- Adjusted net income decreased 4.6%.
- Adjusted EPS2 (attributable to shareholders) decreased 6.4%
Ori Max, Founder and Chief Executive Officer, stated, "We have concluded the first half of 2022 with double-digit top line growth in the second quarter driven by both new store openings and an increase in same store sales. Moreover, we increased gross margins by 100 basis points and generated strong cash flow despite the challenging macro-economic environment. With 5 new stores opened over the past year3, there are now 55 Max Stock locations across Israel. This expansion has contributed positively to revenue, however, it has pressured near-term operating margins as we deleverage expenses while the new stores ramp to maturity. We believe this impact will moderate in the coming quarters and allow us to better translate our growth into improved profitability. Importantly, we plan to continue to build on Max Stock's position as Israel's leading extreme value retailer by increasing the scale of the group's activities by opening 3 to 5 stores annually. We are also excited to announce we have executed a binding agreement with Fortera, our local partner in Portugal, to establish and manage the Max Stock chain in Portugal."
Second Quarter Results
Revenue increased 13.0% to ILS 252.7 million in the second quarter 2022 as compared with revenue of ILS 223.6 million in the second quarter 2021. The increase in revenue was driven by the addition of 5 new stores and a 2.8% increase in same store sales. Revenue in Q2 2022 increased 41.9% from ILS 178.1 million in Q2 2019.
Gross profit increased 15.8% to ILS 99.2 million in the second quarter 2022 from ILS 85.6 million in the second quarter 2021. Gross margin was 39.3% as compared to 38.3% in the prior year period. The 100-basis point improvement in gross margin year-over-year was driven primarily by a positive impact from the timing of Passover (a major Jewish Holiday that occurred in Q2 2022 this year and in Q1 2021 last year). Gross profit in Q2 2022 increased 36.3% from ILS 72.8 million in Q2 2019.
GAAP Selling, general and administrative expenses increased to ILS 74.5 million in the second quarter 2022 from ILS 57.0 million in the second quarter 2021, primarily driven by an increase in salary and wage expenses both at new branches and the Company's head office, increased marketing expenses and a high cost relative to sales of depreciation of fixed property. Selling, general and administrative expenses as a percentage of net sales in Q2 2022 were 29.5% compared with 25.5% in Q2 2021 and 25.7% in Q2 2019.
Adjusted net income decreased 18.0% to ILS 18.3 million, or ILS 0.11 per share, in the second quarter of 2022 as compared with adjusted net income of ILS 22.3 million, or ILS 0.13 per share, in the second quarter of 2021. Adjusted net income in Q2 2019 was ILS 19.2 million, or ILS 0.11 per share.
Adjusted EBITDA decreased 4.5% to ILS 29.3 million in the second quarter fiscal 2022 from ILS 30.7 million in the second quarter 2021. Adjusted EBITDA in Q2 2022 increased 9.0% from ILS 26.9 million in Q2 2019.
First Half 2022 Results
Total revenue for the first half of 2022 increased 5.9% year-over-year to ILS 503.6 million driven primarily by the addition of 5 new stores, partially offset by a 3.8% decrease in same store sales.
Gross profit increased 6.3% to ILS 197.0 million in the first half of 2021 from ILS 185.4 million in the first half of 2021. Gross margin was 39.1% as compared to 39.0% in the year ago period.
Selling, general and administrative expenses increased to ILS 144.6 million in the first half of 2021 from ILS 117.7 million in the first half of 2021, primarily driven by an increase in salary and wage expenses both at new branches and the Company's head office, increased marketing expenses and a high cost relative to sales of depreciation of fixed property. Selling, general and administrative expenses as a percentage of net sales were 28.7% compared with 24.8% in the year ago period.
Adjusted net income decreased 26.2% to ILS 39.2 million, or ILS 0.23 per diluted share, in the first half of 2022 as compared with adjusted net income of ILS 53.1 million, or ILS 0.32 per diluted share, in the first half of 2021.
Adjusted EBITDA decreased 16.4% to ILS 61.2 million in the first half of 2022 from ILS 73.2 million in the year ago period.
Balance Sheet, Cash Flow, Dividend Declaration and Share Buyback Highlights
The Company's cash and cash equivalents balance at June 30, 2022 was ILS 83.8 million compared with ILS 50.3 million at December 31, 2022 and ILS 31.2 million at June 30, 2021. The Company ended the second quarter of 2022 with total debt of ILS 64.8 million compared with total debt of ILS 70.5 million at the end of fiscal 2021.
The Company generated ILS 55.6 million and ILS 79.3 million in cash from operating activities for the second quarter and first half 2022, respectively, driven primarily by a planned reduction in inventories. Based on its strong cash position and outlook for the business, Max Stock's board declared a one-time dividend of ILS 40.0 million, or ILS 0.28 per share to be paid on September 6, 2022 (Date of Record is August 22, 2022). The Company has also repurchased ILS 4.8 million, or 698,236 of its ordinary shares since announcing a ILS 40 million share repurchase program on June 19, 2022.
Inventories at June 30, 2022 were ILS 190.3 million, down 10.9% compared with ILS 213.7 million at December 31, 2021 and down 3.4% compared with ILS 197.1 million at June 30, 2021.
Other Updates
Concurrently with the publication of Max Stock's quarterly reports, and further to the memorandum of understanding entered into between the Company and a local partner in Portugal in March 2022, the Company's board of directors has approved the execution of a binding agreement with Fortera Properties, LDA, the Company's local partner in Portugal, to establish a Max Stock store chain in Portugal. The parties will establish a company in Portugal to operate the joint activities, this company will be jointly held by both the Company (75%) and Fortera (25%). The jointly-owned company will initially operate in Portugal and may subsequently also expand into Spain, at the parties' discretion.
The initial financing required for the establishment, maintenance, development and operation of the joint company, including for the purchase of initial inventory and to establish stores, is up to EUR 5 million, which shall be provided by the parties according to milestones established in the business plan.
The Company shall have control over the jointly-owned company, with a majority on its board of directors and the right to appoint the general manager. Mr. Roy Ben-Nun, who serves as the Company's Chief Overseas Operations, is anticipated to serve as general manager of the jointly-owned company.
Conference Call Information
The Company will host a conference call on August 16, 2022 at 8:30 a.m. Eastern Standard Time to discuss second quarter fiscal 2022 results. The conference is accessible at https://ir.maxstock.co.il/en/event-en/. There will be a slide presentation that accompanies the call. The slides will be accessible at https://ir.maxstock.co.il/en/presentation-en/. Investors and analysts interested in participating in the call can also dial (929) 205 6099 and enter webinar ID 880 8309 0971 followed by the passcode 722665.
About Max Stock
Max Stock is Israel's leading extreme value retailer, currently present in 55 locations throughout Israel. We offer a broad assortment of quality products for customers' everyday needs at affordable prices, helping customers "Dream Big, Pay Small". For more information, please visit https://ir.maxstock.co.il.
Forward-Looking Statements
It should be emphasized that this report includes forward-looking information as defined under the Securities Law, 5728-1968. Forward-looking information is uncertain information regarding the future, including forecasts, projections, estimates or other information which refer to a future event or matter, the eventuation of which is uncertain and/or not within the Company's control. The forward-looking information included in this report is based on the current information held by the Company or its current assessments, as of the publication date of this report.
- As used throughout this release, adjusted EBITDA Pre IFRS 16 defined as Net Income + Income Tax Expenses + Net Interest Expenses + D&A + Other Expenses – the impact of IFRS 16 + Share-based payment.
- As used throughout this release, adjusted EPS defined as Net Income + Share-based payment, multiplied by the portion attributable to shareholders and divided by the number of shares.
- Three stores, net of closures.
Company Contacts:
Talia Sessler,
Chief Corporate Development and IR Officer
talia@maxstock.co.il
View original content:
SOURCE Max Stock Limited | https://www.whsv.com/prnewswire/2022/08/16/max-stock-limited-reports-second-quarter-2022-financial-results/ | 2022-08-16T07:03:44Z |
LINKÖPING, Sweden, Aug. 16, 2022 /PRNewswire/ -- International medical imaging IT and cybersecurity company Sectra (STO: SECT B) launches a new generation of its cloud-based teaching platform Sectra Education Portal. It will greatly enhance students' learning outside the classroom with significant improvements in usability and functionality. Aligned with Sectra's overall commitment to deliver cloud-first software, it will facilitate for the hundreds of medical schools using the platform to bridge the gap between education and their students' professional careers.
"We want to give students the power to get as close to their future reality as they possibly can and at the same time help teachers to manage education efficiently in a landscape where we envisage an explosive increase in medical knowledge. Teachers and students will now be able to access Sectra's unique visualization tools and clinical learning material through a completely new cloud-based web portal to further support that goal," says Johan Carlegrim, President of Sectra's business unit Medical Education.
A growing need for care along with a rapid increase in medical knowledge is creating challenges when it comes to training healthcare personnel effectively. Managing these challenges requires new ways of working and new tools in medical education. The digital tools and actual patient cases in Sectra Education Portal help create a bridge between training and healthcare. When students can realistically interact with patient cases, it creates deeper understanding of and insight into anatomy as well as the body's functions and processes. This improves the learning process and helps students develop their analytical and problem-solving skills.
The "Best in KLAS" award-winning Sectra PACS is powering the teaching platform to enable the fast rendering of 3D images and provides a realistic learning experience by using the tools used in real clinical practice. The new generation of Sectra Education Portal has been developed to support students to browse and explore from their own devices no matter where they study from, as well as help teachers to prepare lessons. This makes it easier for universities to scale out usage to large numbers of teachers and students. As the platform is cloud-based the users get access to new functionality and clinical tools from anywhere and as soon as they become available.
The new generation of Sectra Education Portal will be available for customers in the Fall 2022.
The Sectra Education Portal is a subscription-based Software-as-a-Service solution that provides visualization tools and content at the university, at home or at the hospital. The portal includes a large number of anonymized medical cases and images that have been collected in collaboration with Sectra's customers. It comprises anatomy, histopathology, radiology, trauma, orthopedics, oncology, surgery and other specialties. Teachers can also choose to import and use their own content, which allows them to customize their lessons. The platform is provided by Sectra's business unit Medical Education and is used by educational institutions and hospitals in over 60 countries worldwide. The number of unique users increased nearly 40% from 2020 to 2021 and the number of subscribers to the cloud service increased 21% during the 2021/22 fiscal year.
Get a preview of the new Sectra Education Portal at AMEE
The new generation of the teaching platform will be showcased at booth #61 during the yearly conference of the Association for Medical Education, which is held in Lyon, France, August 27-31. Read more and book a meeting with Sectra at AMEE 2022.
About Sectra
Sectra assists hospitals throughout the world to enhance the efficiency of care, universities and institutions to boost medical education, and authorities and defense forces in Europe to protect society's most sensitive information. Thereby, Sectra contributes to a healthier and safer society. The company was founded in 1978, has its head office in Linköping, Sweden, with direct sales in 19 countries, and operates through partners worldwide. Sales in the 2021/2022 fiscal year totaled SEK 1,632 million. The Sectra share is quoted on the Nasdaq Stockholm exchange. For more information, visit Sectra's website.
CONTACT:
For further information, please contact:
Dr. Torbjörn Kronander, President and CEO, Sectra AB, +46 (0) 705 23 52 27
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE Sectra | https://www.whsv.com/prnewswire/2022/08/16/sectra-launches-next-generation-cloud-portal-enhance-clinical-learning-medical-education/ | 2022-08-16T07:03:50Z |
A proprietary GalNAc delivery system with enhanced Endosome Escape and Dual-Targeting
GAITHERSBURG, Md. and SUZHOU, China, Aug. 16, 2022 /PRNewswire/ -- Sirnaomics Ltd. (the "Company" or "Sirnaomics", stock code: 2257.HK), a leading biopharmaceutical company in discovery and development of RNAi therapeutics, announced today that the Company has developed a Peptide Docking Vehicle (PDoV™) to achieve a peptide-enhanced GalNAc platform for siRNA drug delivery.
Sirnaomics' GalNAc platform takes advantage of a PDoV™ design that leverages selected small peptides which do not only possess an active endosomal escape property, but also provide two binding sites for the conjugation of dual-siRNA inhibitors. In cell culture and animal models, the PDoV-GalNAc platform has accelerated targeted gene knockdown more rapidly than with GalNAc alone, which is attributed to the rapid endosomal escape afforded by PDoV. In such studies, the maximal knockdown of the targeted gene occurred in the first week with the PDoV-GalNAc as compared to the third week with GalNAc alone.
The PDoV-GalNAc delivery technology can be effectively adapted for a dual-targeted siRNA therapeutic with different siRNAs, while targeting either two regions of the same mRNA or different mRNAs (of two drug targets). The dual-targeted PDoV-GalNAc siRNA construct has demonstrated an ability to increase the efficiency of targeted gene knockdown by 10 to 15 fold in vitro as compared to a single siRNA construct. Several novel siRNA drug candidates are currently under development using this technology, including STP135G, which targets the hepatocyte-expressed PCSK9 gene for Hypercholesterolemia, STP145G, which targets the viral mRNA for Hepatitis B virus, and STP165G, which targets hepatocyte-expressed Angiotensinogen for Hypertension.
"Sirnaomics has heavily invested in the GalNAc platform because it encompasses a unique design and innovative technology as compared to other platforms currently used for clinical development," said Dr. Patrick Lu, founder, Chairman of the Board, Executive Director, President and CEO of Sirnaomics. "Based on our PDoV-GalNAc and GalAhead™-delivered siRNA drug candidates that are moving into clinical testing, Sirnaomics is well-positioned to develop new treatments for diseases related to liver hepatocytes. Our GalNAc and Polypeptide Nanoparticle (PNP) delivery technologies provide a solid foundation to serve broad unmet patient needs."
"Our in vitro and in vivo data has demonstrated the value of our PDoV design in addressing the challenge of improving endosomal escape for treatments developed with GalNAcdelivery," said Dr. David Evans, Executive Director and Chief Scientific Officer of Sirnaomics. "The PDoV-GalNAc delivery platform not only enhances the benefits of single siRNA therapeutics, but also advances the therapeutic efficacy of dual-targeted siRNA drug candidates. Sirnaomics' scientific team will continue to advance our novel RNAi therapeutics with development of such cutting-edge technology."
About Sirnaomics
Sirnaomics is an RNA therapeutics biopharmaceutical company with product candidates in preclinical and clinical stages that focuses on the discovery and development of innovative drugs for indications with medical needs and large market opportunities. Sirnaomics is the first clinical-stage RNA therapeutics company to have a strong presence in both China and the United States, and also the first company to achieve positive Phase IIa clinical outcomes in oncology for an RNAi therapeutic for its core product, STP705. Learn more at www.sirnaomics.com.
CONTACT:
David M. Evans, PhD
Executive Director and Chief Scientific Officer, Sirnaomics
Email: DavidEvans@sirnaomics.com
Investor Relations:
Nigel Yip
Chief Financial Officer, China, Sirnaomics
Email: NigelYip@sirnaomics.com
US Media Contact:
Alexis Feinberg
Tel: +1 203 939 2225
Email: Alexis.Feinberg@westwicke.com
Asia Media Contact:
Bunny Lee
Tel: +852 3150 6707
Email: sirnaomics.hk@pordahavas.com
View original content:
SOURCE Sirnaomics Ltd. | https://www.whsv.com/prnewswire/2022/08/16/sirnaomics-develops-peptide-docking-vehicle-pdovtm-designed-an-enhanced-galnac-delivery-platform-novel-sirna-therapeutics/ | 2022-08-16T07:03:56Z |
STOCKHOLM, Aug. 16, 2022 /PRNewswire/ -- Skanska has signed a contract with the Virginia Port Authority to rebuild 72 acres of the Portsmouth Marine Terminal in Portsmouth, Virginia, USA. Skanska will include the contract worth USD 223M, about SEK 2.3 billion, in the US order bookings for the third quarter of 2022.
The project will redevelop approximately 72 acres of the 287-acre Portsmouth Marine Terminal for use as an offshore wind staging port which will improve 1,500 feet of an existing 3,540-foot wharf.
The redevelopment of the marine terminal supports the Coastal Virginia Offshore Wind (CVOW) project which is the largest offshore wind project of its kind in the U.S.
Construction began July 2022, and completion is scheduled for 2025.
For further information please contact:
Maritza E. Ferreira, Communications Director, Skanska USA, tel +1 (678) 492 2003
Jacob Birkeland, Head of Media Relations and Public Affairs, Skanska AB, tel +46 104491957
Direct line for media, tel +46 10 448 88 99
This and previous releases can also be found at www.skanska.com.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE Skanska | https://www.whsv.com/prnewswire/2022/08/16/skanska-rebuilds-offshore-wind-staging-port-portsmouth-virginia-usa-usd-223m-about-sek-23-billion/ | 2022-08-16T07:04:02Z |
BEIJING, Aug. 16, 2022 /PRNewswire/ -- Tarena International, Inc. (NASDAQ: TEDU) ("Tarena" or the "Company"), a leading provider of adult professional education and childhood & adolescent quality education services in China, today announced its unaudited financial results for the second quarter ended June 30, 2022.
Highlights for the Second Quarter of 2022
- Net revenues increased by 11.4% year-over-year to RMB648.8 million (US$96.9 million), from RMB582.3 million in the same period of 2021, exceeding the high end of the company's guidance.
- Total student enrollments in childhood & adolescent quality education business in the second quarter of 2022 reached 176,500, an increase of 25.9%, compared to 140,200 in the same period of 2021.
- Total number of learning centers in childhood & adolescent quality education decreased to 227 as of June 30, 2022, from 235 as of June 30, 2021.
- Gross profit increased by 27.9% year-over-year to RMB376.5 million (US$56.2 million), from RMB294.4 million in the same period of 2021.
- Gross profit margin increased by 7.4% points year-over-year to 58.0%, from 50.6% in the same period of 2021.
- Operating income was RMB48.0 million (US$7.2 million), compared to loss of RMB90.7 million in the same period of 2021.
- Non-GAAP operating income, which excluded share-based compensation expenses, was RMB49.2 million (US$7.3 million), compared to non-GAAP operating loss of RMB86.6 million in the same period of 2021.
- Net income was RMB47.9 million (US$7.2 million), compared to net loss of RMB76.7 million in the same period of 2021.
- Non-GAAP net income, which excluded share-based compensation expenses, was RMB49.1 million (US$7.3 million), compared to non-GAAP net loss of RMB72.5 million in the same period of 2021.
- Basic income per American Depositary Share ("ADS"), each representing five Class A ordinary shares with effective date of December 23, 2021, was RMB4.36 (US$0.65), compared to loss per ADS of RMB6.97 in the second quarter of 2021. Diluted income per American Depositary Share ("ADS") was RMB4.29 (US$0.64), compared to loss per ADS of RMB6.97 in the second quarter of 2021.
- Cash, cash equivalents and time deposits, including current and non-current, and restricted cash totaled RMB425.6 million (US$63.5 million) as of June 30, 2022, compared to RMB430.4 million as of December 31, 2021.
- Net cash inflow from operating activities in the second quarter of 2022 was RMB19.4 million (US$2.9 million).
Highlights for the Six Months Ended June 30, 2022
- Net revenues increased by 14.0% year-over-year to RMB1,272.3 million (US$189.9 million), from RMB1,116.0 million in the same period in 2021.
- Total student enrollments in childhood & adolescent quality education business in the first half of 2022 reached 186,700, an increase of 26.3%, compared to the student enrollments of 147,800 in the same period of 2021.
- Gross profit increased by 35.1% year-over-year to RMB735.4 million (US$109.8 million), from RMB544.3 million in the same period in 2021.
- Gross profit margin increased by 9.0% points year-over-year to 57.8%, from 48.8% in the same period of 2021.
- Operating income was RMB76.6 million (US$11.4 million), compared to loss of RMB220.2 million in the same period in 2021.
- Non-GAAP operating income, which excluded share-based compensation expenses, was RMB79.1 million (US$11.8 million), compared to non-GAAP operating loss of RMB209.2 million in the same period in 2021.
- Net income was RMB75.0 million (US$11.2 million), compared to net loss of RMB198.5 million in the same period in 2021.
- Non-GAAP net income, which excluded share-based compensation expenses, was RMB77.5 million (US$11.6 million), compared to non-GAAP net loss of RMB187.5 million in the same period in 2021.
- Basic income per American Depositary Share ("ADS"), each representing five Class A ordinary shares with effective date of December 23, 2021, was RMB6.73 (US$1.00). Diluted income per American Depositary Share ("ADS") was RMB6.63 (US$0.99).
Key Financial Results
"In the second quarter of 2022, we maintained a healthy growth trajectory for our revenues despite a challenging COVID-19 pandemic environment and achieved growing profitability for consecutive quarters. Our net revenues increased by 11.4% year-over-year in the second quarter of 2022. Our net profit reached RMB47.9 million while operating profit was RMB48.0 million. Such financial performance resulted from the effective execution of our sound OMO-based long-term business strategy, namely, by building an integrated high-efficiency online and offline front-end customer acquisition and consultation services and integrated virtual plus brick-and-mortar course delivery services, we built a seamless value system for our students. Additionally, through optimization of management process and personnel, we controlled our costs and expenses effectively. The total costs and operating expenses decreased by 10.7% year-over-year in the second quarter." remarked Ms. Ying Sun, the Chief Executive Officer of Tarena.
"Looking ahead, we will continue to execute on our integrated growth strategy and improve operational efficiency, maintaining healthy business development and strive for sustainable profitability while coping with the COVID-19 pandemic environment." concluded Ms. Ying Sun.
Appointment of New Chief Financial Officer
The board of directors of Tarena has appointed Ms. Ping Wei as its chief financial officer, effective today.
Ms. Ping Wei has extensive experience in capital markets and the education industry. Prior to joining Tarena, Ms. Wei served as a partner and the chief financial officer of a private venture-backed company focusing on community group buying. Prior to that, Ms. Wei served as the chief financial officer of Gravitas Education Holdings, Inc. (NYSE: GEHI) from May 2017 to May 2019. Ms. Wei also served as the chief financial officer of various education and e-commerce companies including Lazada South East Asia Pte. Ltd., Meilishuo Technology Ltd. and China Distance Education Holdings Ltd., a then New York Stock Exchange-listed company since 2008. Prior to that, Ms. Wei held several positions in New Oriental Education & Technology Group Inc., Lorus Therapeutics Inc., Deloitte Touche Tohmatsu Limited and Arthur Andersen Huaqiang from October 1994 to March 2008. Ms. Wei is a US CPA from Illinois.
Financial Results for the Second Quarter of 2022
Net Revenues
Total net revenues increased by 11.4% to RMB648.8 million (US$96.9 million) in the second quarter of 2022, from RMB582.3 million in the same period of 2021. The increase was mainly driven by a higher student enrollment of childhood & adolescent quality education. In addition, net revenue from adult professional education business also increased slightly primarily due to the increase in certification revenue.
Cost of Revenues
Cost of revenues decreased by 5.4% to RMB272.3 million (US$40.7 million) in the second quarter of 2022, from RMB287.9 million in the same period of 2021. The decrease was primarily due to the decline in rental and depreciation expenses which was partially offset by higher personnel and welfare cost due to the higher performance-based bonus.
Gross Profit and Gross Margin
Gross profit increased by 27.9% to RMB376.5 million (US$56.2 million) in the second quarter of 2022, from RMB294.4 million in the same period of 2021. Gross margin was 58.0% in the second quarter of 2022, compared to 50.6% in the same period of 2021. The increase in gross profit was primarily attributable to the increase in net revenues and decrease in cost of revenues in both childhood & adolescent quality education and adult professional education businesses.
Operating Expenses
Total operating expenses decreased by 14.7% to RMB328.5 million (US$49.0 million) in the second quarter of 2022 from RMB385.1 million in the same period of 2021. Total non-GAAP operating expenses, which excluded share-based compensation expenses, decreased by 14.1% to RMB327.4 million (US$48.9 million) in the second quarter of 2022, from RMB381.2 million in the same period of 2021. Total share-based compensation expenses allocated to the related operating expenses decreased by 71.8% to RMB1.1 million (US$0.2 million) in the second quarter of 2022, from RMB3.9 million in the same period of 2021.
Selling and marketing expenses decreased by 28.3% to RMB156.9 million (US$23.4 million) in the second quarter of 2022 from RMB218.9 million in the same period of 2021. The decrease was mainly due to the drop in the number of sales staff and a decline in advertising spending as the company continued to optimize marketing spending in the second quarter of 2022.
General and administrative expenses increased by 11.1% to RMB158.7 million (US$23.7 million) in the second quarter of 2022, from RMB142.8 million in the same period of 2021. The increase was mainly due to a one-time provision for the residual amount of the anticipated settlement of a class action lawsuit net off the estimated insurance coverage in the second quarter of 2022. In addition, a one-time adjustment in the second quarter of 2021 resulted in lower comparison base and the resulting increase of payroll cost in the second quarter of 2022. Such increase was partially offset by an impairment loss on an office property held for sale in second quarter of 2021.
Research and development expenses decreased by 45.0% to RMB12.9 million (US$1.9 million) in the second quarter of 2022, from RMB23.4 million in the same period of 2021. The decrease was mainly due to the decrease in personnel-related expense in the second quarter of 2022.
Operating Income/(Loss)
Operating income was RMB48.0 million (US$7.2 million) in the second quarter of 2022, compared to operating loss of RMB90.7 million in the same period of 2021. Non-GAAP operating income, which excluded share-based compensation expenses, was RMB49.2 million (US$7.3 million) in the second quarter of 2022, compared to non-GAAP operating loss of RMB86.6 million in the same period of 2021.
Income Tax Benefit/(Expense)
The Company recorded an income tax expense of RMB0.6 million (US$0.1 million) in the second quarter of 2022, compared to income tax benefit of RMB12.3 million in the same period of 2021.
Net Income/(Loss)
As a result of the foregoing, net income was RMB47.9 million (US$7.2 million) in the second quarter of 2022, compared to net loss of RMB76.7 million in the same period of 2021. Non-GAAP net income, which excluded share-based compensation expenses, was RMB49.1 million (US$7.3 million) in the second quarter of 2022, compared to non-GAAP net loss of RMB72.5 million in the same period of 2021.
Basic and Diluted Income/(Loss) per ADS
Basic income per ADS was RMB4.36 (US$0.65) in the second quarter of 2022, compared to loss per ADS of RMB6.97 in the second quarter of 2021. Diluted income per ADS was RMB4.29 (US$0.64) in the second quarter of 2022, compared to loss per ADS of RMB6.97 in the second quarter of 2021. Non-GAAP basic income per ADS, which excluded share-based compensation expenses, was RMB4.46 (US$0.67) in the second quarter of 2022, compared to non-GAAP loss per ADS of RMB6.61 in the second quarter of 2021. Non-GAAP diluted income per ADS, which excluded share-based compensation expenses, was RMB4.39 (US$0.66) in the second quarter of 2022, compared to non-GAAP loss per ADS of RMB6.61 in the second quarter of 2021.
Cash Flow
The total balance of cash, cash equivalents and time deposits increased RMB9.2 million from RMB416.4 million as of March 31, 2022 to RMB425.6 million (US$63.5 million) as of June 30, 2022. The increase was mainly from positive net cash inflow from operating activities in the second quarter of 2022 of RMB19.4 million (US$2.9 million), which was mainly due to higher cash receipt and lower cash costs and expenses in normal business course. Capital expenditures in the second quarter of 2022 were RMB8.9 million (US$1.3 million), mainly from purchasing of office equipment and payment to renovate teaching centers. Share repurchase also contributed to the cash outflow in the second quarter of 2022.
Financial Results for the Six Months Ended June 30, 2022
Net Revenues
Total net revenues increased by 14.0% to RMB1,272.3 million (US$189.9 million) in the first half of 2022, from RMB1,116.0 million in the same period of 2021. The increase was primarily driven by a higher student enrollment of childhood & adolescent quality education business and a net revenue increase from adult professional education business primarily due to the increase in certification revenue.
Cost of Revenues
Cost of revenues decreased by 6.1% to RMB536.9 million (US$80.2 million) in the first half of 2022, from RMB571.7 million in the same period of 2021. The decrease was primarily due to the decline in rental and depreciation expenses partially offset by higher personnel and welfare cost due to an increase in the number of teaching staff and higher performance-based bonus.
Gross Profit and Gross Margin
Gross profit increased by 35.1% to RMB735.4 million (US$109.8 million) in the first six months of 2022, from RMB544.3 million in the same period of 2021. Gross margin was 57.8% in the first six months of 2022, compared with 48.8% in the same period of 2021. The increase in gross profit was primarily attributable to the increase in net revenues and decrease in cost of revenues in both childhood &adolescent quality education and adult professional education businesses.
Operating Expenses
Total operating expenses decreased by 13.8% to RMB658.8 million (US$98.4 million) in the first six months of 2022, from RMB764.5 million in the same period of 2021. Total non-GAAP operating expenses, which excluded share-based compensation expenses, decreased by 12.9% to RMB656.3 million (US$98.0 million) in the first six months of 2022, from RMB753.9 million in the same period of 2021. Total share-based compensation expenses allocated to the related operating expenses decreased by 76.6% to RMB2.5 million (US$0.4 million) in the first six months of 2022, from RMB10.7 million in the same period of 2021.
Selling and marketing expenses decreased by 23.9% to RMB329.3 million (US$49.2 million) in the first six months of 2022 from RMB432.6 million in the same period of 2021. The decrease was mainly due to the drop in the number of sales staff and a decline in advertising spending as the Company continues to control marketing spending in the first six months of 2022.
General and administrative expenses increased by 5.0% to RMB300.3 million (US$44.8 million) in the first six months of 2022, from RMB286.0 million in the same period of 2021. The increase was mainly due to a one-time provision for the residual amount of the anticipated settlement of a class action lawsuit net off the estimated insurance coverage in the first six months of 2022. In addition, the increase in bonus resulted in the increase of payroll cost in the first six months of 2022. Such increase was partially offset by an impairment loss on an office property held for sale in the first six months of 2021.
Research and development expenses decreased by 36.3% to RMB29.2 million (US$4.4 million) in the first six months of 2022, from RMB45.9 million in the same period of 2021. The decrease was mainly due to the decrease in personnel-related costs in the first six months of 2022.
Operating Income/(Loss)
Operating income was RMB76.6 million (US$11.4 million) in the first six months of 2022, compared to operating loss of RMB220.2 million in the same period of 2021. Non-GAAP operating income, which excluded share-based compensation expenses, was RMB79.1 million (US$11.8 million) in the first six months of 2022, compared to non-GAAP operating loss of RMB209.2 million in the same period of 2021.
Income Tax Benefit/(Expense)
The Company recorded an income tax expense of RMB6.0 million (US$0.9 million) in the first six months of 2022, compared to RMB19.6 million in income tax benefit in the same period of 2021.
Net Income/(Loss)
As a result of the foregoing, net income was RMB75.0 million (US$11.2 million) in the first six months of 2022, compared to net loss of RMB198.5 million in the same period of 2021. Non-GAAP net income, which excluded share-based compensation expenses, was RMB77.5 million (US$11.6 million) in the first six months of 2022, compared to non-GAAP net loss of RMB187.5 million in the same period of 2021.
Basic and Diluted Income/(Loss) per ADS
Basic income per ADS was RMB6.73 (US$1.00) in the first six months of 2022. Diluted income per ADS was RMB6.63 (US$0.99) in the first six months of 2022. Non-GAAP basic income per ADS, which excluded share-based compensation expenses, was RMB6.96 (US$1.04) in the first six months of 2022. Non-GAAP diluted income per ADS, which excluded share-based compensation expenses, was RMB6.86 (US$1.02) in the first six months of 2022.
Cash Flow
The total balance of cash, cash equivalents and time deposits decreased RMB4.8 million from RMB430.4 million as of December 31, 2021 to RMB425.6 million (US$63.5 million) as of June 30, 2022. The decrease was mainly due to capital expenditures on purchasing of office equipment and payment to renovate teaching centers, as well as payment to repurchase Company's stock, which was partially offset by the proceeds received from bank borrowing of RMB2.0 million (US$0.3 million) in the first six months of 2022. The net cash inflow from operating activities in the first six months of 2022 was RMB0.5 million (US$0.1 million).
Business Outlook
Based on the Company's current estimates, total net revenues for the third quarter of 2022 are expected to be in the range of RMB620 million and RMB650 million, which represent an increase of 0.8% to 5.7% as compared to the net revenues in the third quarter of 2021, after taking into consideration the seasonal fluctuation factor and the likely continued impact of the COVID-19.
This guidance is based on the current market conditions and reflects the Company's current and preliminary estimates of market and operating conditions, which are subject to change, particularly as to the potential impact of COVID-19 on the economy in China and elsewhere in the world.
Exchange Rate Information
All translations made in the financial statements or elsewhere in this press release made from RMB into United States dollars ("US$") are solely for convenience and calculated at the rate of US$1.00=RMB 6.6981, representing the exchange rate as of June 30, 2022, set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate, or at any other rate, on June 30, 2022.
Conference Call
Company management will hold an earnings conference call and live webcast to discuss the Company's results at 8:00 AM on Aug 16, 2022, U.S. Eastern Time (8:00 PM on Aug 16, 2022, Beijing Time).
Please register in advance of the conference, using the link provided below. Upon registering, you will be provided with participant dial-in numbers, passcode and unique registrant ID.
Conference call registration link: https://register.vevent.com/register/BI9837fbfef7b846edb47630ffe1f548b2. It will automatically direct you to the registration page of "Tarena's Second Quarter 2022 Earnings Conference Call" where you may fill in your details for RSVP.
In the 10 minutes prior to the call start time, you may use the conference access information (including dial in number(s), direct event passcode and registrant ID) provided in the confirmation email received at the point of registering.
Additionally, a live and archived webcast of this call will be available on the Investor Relations section of Tarena's website at http://ir.tedu.cn.
About Tarena International, Inc.
Tarena is a leading provider of adult professional education and childhood and adolescent quality education services in China. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, Tarena offers adult professional education courses in IT and non-IT subjects. Its adult professional education courses provide students with practical skills to prepare them for jobs in industries with significant growth potential and strong hiring demand. Tarena also offers childhood and adolescent quality education programs, including computer coding and robotics programming courses, etc., targeting students aged between three and eighteen.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, the business outlook, the quotations from management in this announcement, as well as the Company's strategic and operational plans contain forward-looking statements. Tarena may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including any business outlook and statements about Tarena's beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: the impact of the COVID-19 outbreak; Tarena's goals and strategies; its future business development, financial condition and results of operations; its ability to continue to attract students to enroll in its courses; its ability to continue to recruit, train and retain qualified instructors and teaching assistants; its ability to continually tailor its curriculum to market demand and enhance its courses to adequately and promptly respond to developments in the professional job market; its ability to maintain or enhance its brand recognition, its ability to maintain high job placement rate for its students, and its ability to maintain cooperative relationships with financing service providers for student loans.
Further information regarding these and other risks, uncertainties or factors is included in Tarena's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tarena does not undertake any obligation to update such information, except as required under applicable law.
About Non-GAAP Financial Measures
To supplement Tarena's consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Tarena's management uses non-GAAP measures of cost of revenues, operating expenses, operating income, net income, and basic and diluted net income per ADS, which are adjusted from results based on GAAP to exclude the share-based compensation expenses. These non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. In addition, calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited.
Tarena's management believes that excluding the share-based compensation expenses provides meaningful supplemental information regarding our performance and liquidity by excluding certain items identified as non-recurring and infrequent in nature, and non-cash charges. The amount of share-based compensation expenses is not built into the Company's annual budgets and quarterly forecasts, which generally will be the basis for information Tarena provides to analysts and investors as guidance for future operating performance.
The non-GAAP financial measures are provided to enhance investors' overall understanding of Tarena's current financial performance and prospects for the future. A limitation of using non-GAAP cost of revenues, operating expenses, operating income (loss) and net income (loss), excluding the share-based compensation expense is that the share-based compensation charge has been and will continue to be a recurring expense in the Company's business for the foreseeable future. In order to mitigate the limitation, the Company has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between GAAP financial measures that are most directly comparable to the non-GAAP financial measures the Company has presented.
For further information, please contact:
Investor Relations Contact
Tarena International, Inc.
Email: ir@tedu.cn
View original content:
SOURCE Tarena International, Inc. | https://www.whsv.com/prnewswire/2022/08/16/tarena-announces-results-second-quarter-2022-with-revenues-exceeding-guidance-appoints-new-chief-financial-officer/ | 2022-08-16T07:04:09Z |
NANJING, China, Aug. 16, 2022 /PRNewswire/ -- Tuniu Corporation (NASDAQ:TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced that it plans to release its unaudited financial results for the second quarter ended June 30, 2022, before the market opens on September 1, 2022.
Tuniu's management will hold an earnings conference call at 8:00 am U.S. Eastern Time on September 1, 2022 (8:00 pm Beijing/Hong Kong Time on September 1, 2022).
Listeners may access the call by dialing the following numbers:
A telephone replay will be available one hour after the end of the conference call through September 8, 2022. The dial-in details are as follows: The dial-in details are as follows:
Additionally, a live and archived webcast of this conference call will be available at http://ir.tuniu.com/.
About Tuniu Corporation
Tuniu (Nasdaq:TOUR) is a leading online leisure travel company in China that offers a large selection of packaged tours, including organized and self-guided tours, as well as travel-related services for leisure travelers through its website tuniu.com and mobile platform. Tuniu covers over 420 departing cities throughout China and all popular destinations worldwide. Tuniu provides one-stop leisure travel solutions and a compelling customer experience through its online platform and offline service network, including a dedicated team of professional customer service representatives, 24/7 call centers, extensive networks of offline retail stores and self-operated local tour operators. For more information, please visit http://ir.tuniu.com.
View original content:
SOURCE Tuniu Corporation | https://www.whsv.com/prnewswire/2022/08/16/tuniu-report-second-quarter-2022-financial-results-september-1-2022/ | 2022-08-16T07:04:16Z |
Wife learns of husband’s motorcycle crash instantly with app
APACHE JUNCTION, Ariz. (KPHO/KTVK) - A father of two is recovering from serious injuries following a motorcycle crash. His wife has been there every step of the way after a mobile app alerted her about the crash as soon as it happened.
Sarah Caine received an alert from the Life360 app just before 7 a.m. Saturday. Her husband, Tim Caine, had been out dropping his son off at football practice when he was involved in a motorcycle crash, KPHO/KTVK reports.
“It just says, ‘Life360 detected sudden motion on Dad’s phone,’” Sarah Caine said. “‘This could be a result of a collision, hard braking or a dropped phone. We suggest that you call Dad to check on them.’”
The “Dad” the app referred to is Tim Caine. He was five minutes from home when the crash happened, sending him off his motorcycle and 30 feet into the air, according to witnesses.
“When I called him and he didn’t answer, my first thought was ‘maybe it just fell out of his pocket,’” Sarah Caine said.
But using Life360′s GPS technology, Sarah Caine drove to her husband’s location and saw the scene of the crash.
“So, I drove there over the canal, and there he was on the side of the road with people standing over him. I was able to see him before he got into the ambulance,” she said.
Her husband later told her he was the victim of a hit-and-run crash. Tim Caine said he remembers seeing a car driving on the opposite side of the road that then dramatically turned in front of him. Witnesses say they saw him flying through the air after he slammed on his motorcycle brakes.
Police say right now, they’re calling this a single vehicle accident.
“I don’t think he’s ever been through anything like this,” Sarah Caine said.
Tim Caine suffered a broken collarbone, scapula and ribs, along with a collapsed lung, in the crash. He is recovering at the hospital.
His wife says the past few days have been the hardest of her life, but she’s grateful she’s been there every step of the way, thanks to the app.
“The ER nurse... I told her what happened with the app, and she told me that app probably saved me about an hour or two of waiting to see where he was because they would’ve had to pull his information [and] emergency contacts,” Sarah Caine said.
Tim Caine’s accident occurred just two weeks after he was laid off. The family has set up a GoFundMe to help with medical expenses.
Copyright 2022 KPHO/KTVK via Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/08/16/wife-learns-husbands-motorcycle-crash-instantly-with-app/ | 2022-08-16T08:07:42Z |
HONOLULU-- A Molokai man learned his fate after pleading guilty for an in-flight disturbance which took place in September of 2021.
33 year old Steven Sloan must pay restitution of just over 6 thousand dollars. Plus, the defendant was sentenced to two years of supervised release with credit for time served. Following the conclusion of the case, Sloan met with probation officials immediately after the sentencing.
According to statement made by the Assistant District Attorney, Sloan has both mental health issues and history of drug use.
In September of last year, a flight attendant had to activate protocols to divert a Hilo bound flight back to Honolulu, as the crew moved to protect the cockpit and aircraft doors.
Sloan caused the in-flight disturbance after he struck a flight attendant twice without provocation, in the stomach and then the head. There was no argument of any kind before the attack.
Sloan was arrested in the plane and was taken into custody on the tarmac, upon returning to Daniel K. Inouye International Airport. The defendant admitted to hearing voices over several weeks in an earlier court proceeding.
The maximum penalties for the 2 federal counts Sloan faced would have been a fine of 250 thousand dollars, and 20 years in prison for assault of the crew member.
A more lenient sentence of two years supervised release and a fine of just over 6 thousand dollars was given in contrast. Sloan's attorney did not comment on the sentencing. | https://www.kitv.com/news/molokai-man-fined-for-striking-flight-hawaiian-air-attendant/article_3f21b34e-1d32-11ed-9ec3-03ea02b3d666.html | 2022-08-16T08:28:19Z |
Community rallies support for cyclists killed, injured in alleged drunk driving crash
A court document said the 18-year-old suspect was “hallucinating” and “talking to individuals that were not present” while in jail.
HENRICO, Va. (WWBT) - Emotions of shock and heartbreak continue to fill the hearts of many after Henrico Police said a teen driver hit and killed Jonah Holland and seriously injured Natalie Rainer while they were riding their bikes in the area of Osborne Turnpike and Village Field Lane on Saturday morning.
On Monday morning, 18-year-old Jeffrey Brooks made his first appearance in Henrico General District Court. Brooks is facing charges of manslaughter and driving under the influence. A criminal complaint filed in court also reveals more details about Brooks’ statements to officers.
The court document states Brooks was observed to be “incredibly unsteady on his feet.” The document adds Brooks had “slurred speech, bloodshot/watery eyes, and dilated pupils even though it was bright outside.”
It also reveals Brooks stated he had between 1-1.5 beers to drink two hours before. The document also adds, “he had not drank since the crash, was not injured in the crash and was the driver of the vehicle involved in the crash.”
The criminal complaint also said Brooks “performed poorly” on his standard field sobriety testing. Brooks blew .226, which is 11 times the legal limit in Virginia for those under 21. When he was arrested, Brooks blew .15. The complaint also adds Brook admitted: “to making and consuming edibles last night with friends.”
The court document also states Brooks “hallucinated during our interactions.” The criminal complaint reveals Brooks was “talking to individuals that were not present” and adds, “he would ask to be ‘let out at the 7-11 right there’ while in jail.”
The details come as family, friends and bicyclists in the Richmond area continue to process this crash that killed Holland and hurt Rainer. This includes Lilo Navales, president of the Richmond Triathlon Club. Navales is a good friend of Holland and Rainer.
“My heart completely just sank to the ground, and I’m still really in shock,” said Navales.“These women represent who we are as athletes and cyclists.”
Navales said she will always remember Jonah for her kindness, love of volunteering, and athleticism.
“She had a wonderful smile and was very helpful,” she said.
Navales also said Natalie is a very strong woman and remembers meeting her during one of her yoga classes for cyclists.
“I was very impressed with Natalie. She is so strong,” said Navales.
Henrico Police said Rainer is in critical but stable condition in the hospital. Natalie’s family members said she has a long recovery ahead and is asking the community for support and prayers during her recovery period. A GoFundMe page to support Natalie’s medical costs has raised more than $45,000 with a goal of $150,000.
Jonah Holland was well known as a prominent member of the community and worked at Lewis Ginter Botanical Garden for over 14 years.
“You know, we’ve lost one of our garden family members. It’s been really shocking, and I think many of us are still trying to comprehend the loss,” said Brian Trader, president and CEO of Lewis Ginter Botanical Garden, during an interview with NBC12 on Sunday.
Rainer was also a member of the SwimRVA family.
SwimRVA sent NBC12 the following statement:
“On behalf of SwimRVA and the Richmond community, we join many others as our thoughts and prayers go out to the families and friends of both Natalie and Jonah during these incredibly difficult times. Natalie is a vibrant and driven member of the SwimRVA family. As the Assistant Director of Programs, she leads the Health & Wellness program for SwimRVA. She also runs our programming in Richmond’s east end at SwimRVA Church Hill, located at the Salvation Army Boys and Girls Club. She is a passionate advocate for aquatic safety and fitness in the region. Her positivity is contagious, and she is a true example of what it means to be part of a community. We hope for a healthy and speedy recovery.”
As the community continues to pray for the family and friends of Jonah Holland and Natalie Rainer, Navales hopes this tragedy will make people more aware of the roads.
“They were on the road enjoying their passion, and I wish that you know, people will learn from this unfortunate tragedy that we are on the roads and to please give us space,” said Navales.
Brooks is scheduled to make his next court appearance on Aug. 29 at 8:30 a.m.
If you want to support Natalie’s recovery in the hospital, you can donate to her GoFundMe page.
Copyright 2022 WWBT. All rights reserved.
Want NBC12’s top stories in your inbox each morning? Subscribe here. | https://www.whsv.com/2022/08/15/community-rallies-support-cyclists-killed-injured-alleged-drunk-driving-crash/ | 2022-08-16T08:34:13Z |
Wife learns of husband’s motorcycle crash instantly with app
APACHE JUNCTION, Ariz. (KPHO/KTVK) - A father of two is recovering from serious injuries following a motorcycle crash. His wife has been there every step of the way after a mobile app alerted her about the crash as soon as it happened.
Sarah Caine received an alert from the Life360 app just before 7 a.m. Saturday. Her husband, Tim Caine, had been out dropping his son off at football practice when he was involved in a motorcycle crash, KPHO/KTVK reports.
“It just says, ‘Life360 detected sudden motion on Dad’s phone,’” Sarah Caine said. “‘This could be a result of a collision, hard braking or a dropped phone. We suggest that you call Dad to check on them.’”
The “Dad” the app referred to is Tim Caine. He was five minutes from home when the crash happened, sending him off his motorcycle and 30 feet into the air, according to witnesses.
“When I called him and he didn’t answer, my first thought was ‘maybe it just fell out of his pocket,’” Sarah Caine said.
But using Life360′s GPS technology, Sarah Caine drove to her husband’s location and saw the scene of the crash.
“So, I drove there over the canal, and there he was on the side of the road with people standing over him. I was able to see him before he got into the ambulance,” she said.
Her husband later told her he was the victim of a hit-and-run crash. Tim Caine said he remembers seeing a car driving on the opposite side of the road that then dramatically turned in front of him. Witnesses say they saw him flying through the air after he slammed on his motorcycle brakes.
Police say right now, they’re calling this a single vehicle accident.
“I don’t think he’s ever been through anything like this,” Sarah Caine said.
Tim Caine suffered a broken collarbone, scapula and ribs, along with a collapsed lung, in the crash. He is recovering at the hospital.
His wife says the past few days have been the hardest of her life, but she’s grateful she’s been there every step of the way, thanks to the app.
“The ER nurse... I told her what happened with the app, and she told me that app probably saved me about an hour or two of waiting to see where he was because they would’ve had to pull his information [and] emergency contacts,” Sarah Caine said.
Tim Caine’s accident occurred just two weeks after he was laid off. The family has set up a GoFundMe to help with medical expenses.
Copyright 2022 KPHO/KTVK via Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/08/16/wife-learns-husbands-motorcycle-crash-instantly-with-app/ | 2022-08-16T08:34:14Z |
New research report identifies gaps in employers' health and retirement benefit offerings and business practices
LOS ANGELES, Aug. 16, 2022 /PRNewswire/ -- Eighty-one percent of employers feel responsible for helping employees maintain their long-term health and well-being, 72 percent cite one or more major concerns about employees' mental health, and 47 percent have found it difficult to recruit new employees, according to Emerging From the COVID-19 Pandemic: The Employer's Perspective, a new survey report from nonprofit Transamerica Institute® and its Transamerica Center for Retirement Studies® (TCRS).
"In the wake of the pandemic, employers have been navigating complex issues in a rapidly changing environment, especially in managing the needs of their workforce. However, they can be doing even more to support their employees," said Catherine Collinson, CEO and president of Transamerica Institute and TCRS.
Emerging From the COVID-19 Pandemic: The Employer's Perspective examines the impacts of the pandemic on employers and their health and welfare benefits, retirement benefits, and business practices. It is based on a survey of more than 1,800 for-profit company employers conducted in late 2021 and offers comparisons by company size, including small (less than 100 employees), medium (100 to 499 employees), and large companies (500 or more employees). It also includes relevant comparisons from TCRS' most recent survey of workers.
"A robust compensation and benefits package is a win-win situation in the workplace. It can help employers attract and retain talent while providing employees income, work-life balance, and the ability to save for retirement while protecting their health, well-being, and financial situation," said Collinson. Almost two-thirds of employers (64 percent) believe health insurance, retirement benefits, and/or other benefits to be very important in their ability to attract and retain employees.
Despite this emphasis on employee benefits, there is still a sizeable shortfall when comparing the percentage of employers that offer specific benefits with the percentage of workers who value them as important.
"As employers evaluate their benefits offering, they have an opportunity to further support the physical and mental health and the financial well-being of their employees," said Collinson.
"Employer-sponsored retirement plans, including 401(k)s and similar plans, have proven to be the most effective way to facilitate long-term savings among workers. Unfortunately, not all workers have access to these benefits, especially those working for small companies," said Collinson.
The survey findings outline employers' retirement benefits and identify opportunities for expanding coverage and enhancing plan features. Key findings include:
- Retirement plan sponsorship rates are lower among small companies. Fifty-five percent of employers offer a 401(k) or similar plan to their employees. These employee-funded plans are more commonly offered by large and medium companies (92 percent, 89 percent, respectively), compared with small companies (46 percent) where the opportunity for expanding retirement plan coverage is greatest.
- More employers may offer a retirement plan in the future. Among employers that do not offer a 401(k) or similar plan, 43 percent say they are likely to begin doing so in the next two years. Moreover, 27 percent of employers unlikely to offer a plan say they would consider joining a multiple employer plan (MEP), pooled employer plan (PEP), or group of plans (GoP).
- Automatic enrollment can make it more convenient for workers to save because it eliminates the necessary action steps for employees to enroll in and start contributing to the plan. Instead, it automatically enrolls employees into their plan with the ability for them to opt out and stop contributing. Twenty-three percent of plan sponsors have adopted automatic enrollment.
- Plan sponsors could do more to help workers financially transition to retirement. Pre-retirees face complex financial decisions. Relatively few plan sponsors provide access to a financial advisor (44 percent), education about transitioning into retirement (41 percent), and educational resources (40 percent).
The survey finds a sizeable gap in retirement savings among workers by company size. This gap illustrates the impact that access to workplace retirement benefits can make. Workers of large companies have saved $96,000 in total household retirement accounts and those of medium companies have saved $73,000, while small-company workers have saved just $41,000 (estimated medians).
"Today, four generations in the workforce bring diverse skills, expertise, and life experiences to their jobs. Employers that implement best practices for a multigenerational workforce can potentially increase productivity while supporting the professional growth and work-life balance of their employees," said Collinson.
Most employers (84 percent) consider their companies to be "age-friendly" by offering opportunities, work arrangements, and training and tools needed for employees of all ages to be successful. However, only 65 percent of workers consider their employers to be age-friendly. The survey finds many employers are embracing a multigenerational workforce in some respects but, in other ways, they have not yet addressed the opportunity. For example:
- Only 34 percent of employers have adopted a formal diversity and inclusion policy statement referencing age among other demographic characteristics.
- Nine in 10 offer one or more types of alternative work arrangements (92 percent), including flexible work schedules (60 percent), the ability to adjust work hours as needed (54 percent), and the ability to work remotely (51 percent).
- Eight in 10 offer one or more programs to support caregiving employees (80 percent), including unpaid leave of absence (37 percent), paid leave of absence (31 percent), online resources and/or tools (27 percent), an employee assistance program that offers counseling and referral services (23 percent), and a benefit that offers referrals to backup care (22 percent).
- Three in 10 have a formal phased retirement program with specific provisions and requirements (31 percent). Regardless of whether they offer a formal program, some employers have work-related programs to help pre-retirees transition including flexible work schedules and arrangements (44 percent), the ability to reduce hours and shift from full-time to part-time (36 percent), and the ability to take on less stressful or demanding jobs (34 percent).
"Employers play a vital societal role by providing employment, employee benefits, and the ability for workers to save and invest for a secure retirement. Especially now, amid the ongoing effects of the pandemic, employers need support from policymakers to make it as easy as possible to modernize their business practices, expand their benefit offerings, and address the evolving needs of their employees," said Collinson.
Emerging From the COVID-19 Pandemic: The Employer's Perspective includes in-depth findings about health and welfare, workplace wellness, and retirement benefits, as well as recommendations for employers, workers, and policymakers. Transamerica Institute has done extensive work on age-friendly workplaces and workplace wellness programs. Visit www.transamericainstitute.org. Follow on Twitter, LinkedIn, and Facebook.
Transamerica Institute® is a nonprofit, private foundation dedicated to identifying, researching, and educating the public about health and wellness, employment, financial literacy, longevity, and retirement. It is the parent organization of Transamerica Center for Retirement Studies® (TCRS) which conducts one of the largest and longest-running annual retirement surveys of its kind. Transamerica Institute is funded by contributions from Transamerica Life Insurance Company and its affiliates. The information provided here is for educational purposes only and should not be construed as insurance, securities, ERISA, tax, investment, legal, medical, or financial advice or guidance. Please consult independent professionals for answers to your specific questions. www.transamericainstitute.org
The analysis contained in Emerging From the COVID-19 Pandemic: The Employer's Perspective was prepared internally by the research team at Transamerica Institute. Employer Survey: A 20-minute online survey was conducted within the U.S. by The Harris Poll on behalf of Transamerica Institute and TCRS between November 8 and 24, 2021 among a nationally representative sample of 1,874 U.S. business executives with specific titles who make decisions about employee benefits at their for-profit company and employ one employee or more across all locations ("employers"). Data were weighted based on D&B business database for employee size, company revenue, industry, and state where necessary to align them with their actual proportions in the population. Worker Survey: A 28-minute online survey was conducted within the U.S. by The Harris Poll on behalf of Transamerica Institute and TCRS between October 28 and December 10, 2021 among a nationally representative sample of 5,493 U.S. adults age 18+, who work full- or part-time in a for-profit company employing one or more employees ("workers"). Data were weighted based on Census data for education, age by gender, race/ethnicity, region, household income, marital status, and size of household where necessary to align them with their actual proportions in the population. The weighting also adjusts for attitudinal and behavioral differences between those who are online versus those who are not, those who join online panels versus those who do not, and those who respond to surveys versus those who do not.
Percentages are rounded to the nearest whole percent.
Media Contact: Morgan Karbowski
mkarbowski@webershandwick.com
452-753-5719
View original content to download multimedia:
SOURCE Transamerica Institute | https://www.whsv.com/prnewswire/2022/08/16/adapting-post-pandemic-realities-how-employers-can-do-more-support-their-employees/ | 2022-08-16T08:34:21Z |
EcoTank Cartridge-Free Supertank Printers Deliver Convenient and Worry-Free Printing for Busy Students and Families
LOS ALAMITOS, Calif., Aug. 16, 2022 /PRNewswire/ -- Whether entering elementary school for the first time or embarking on another year in high school, a student's first day of school is an exciting time for families. Epson is helping students of all ages mark the big day and prepare for the new school year. The number-one Supertank printer with over 70 million sold1 worldwide, EcoTank® cartridge-free printers make it easy to print thousands of pages2 that families and students will use throughout the school year.
"While back to school season is an exciting time, we know that it can also feel hectic for many parents and students looking for quality supplies and essentials at a great value," said Stevi Sterns, product manager, Consumer Inkjet, Epson America, Inc. "Epson's EcoTank wireless all-in-one color printers offer incredible value. The supersized ink tanks give you the freedom to print all you want in color without worrying about running out of ink, so students and families can focus on the busy year ahead."
An easy-to-use tool for students and families, the Epson EcoTank ET-2850 cartridge-free Supertank printer provides everyone with the freedom to print in color without having to spend a significant amount of money on expensive ink cartridges. With savings of up to 90 percent with replacement ink bottles vs. ink cartridges,3 the EcoTank ET-2850 is a cost-effective solution for printing colorful projects, to-do lists, plans, worksheets, schedules, calendars, inspirational quotes, and more. From name, date, and favorite subjects to goals for the new year, first day of school signs and printables can be fully customized to help commemorate every moment. Using the EcoTank ET-2850 along with EcoTank Premium Paper, families can enjoy bright documents with crisp, sharp black text and brilliant colors.
The EcoTank ET-2850 includes up to 2 years of ink in the box,4 and each replacement ink bottle set is equivalent to about 90 individual ink cartridges,5 so families can feel confident printing assignments all year long with fewer out of ink frustrations. It leverages heat-free printhead technology to produce sharp text and impressive color and graphics on virtually any paper type. Additional productivity features include auto-duplex printing, a high-resolution flatbed scanner, convenient color display, hands-free voice-activated printing,6 and wireless connectivity so users can easily print from smart devices7 with the intuitive Epson Smart Panel® App.8
Pricing and Availability
The EcoTank ET-2850 ($349.99 MSRP) and EcoTank Premium Paper ($11.99 MSRP) are available through major retailers nationwide and on the Epson store (www.epsonstore.com).
About Epson
Epson is a global technology leader dedicated to co-creating sustainability and enriching communities by leveraging its efficient, compact, and precision technologies and digital technologies to connect people, things, and information. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson's goal is to become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050.
Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of around JPY 1 trillion. global.epson.com/
Epson America, Inc., based in Los Alamitos, Calif., is Epson's regional headquarters for the U.S., Canada, and Latin America. To learn more about Epson, please visit: epson.com. You may also connect with Epson America on Facebook (facebook.com/Epson), Twitter (twitter.com/EpsonAmerica), YouTube (youtube.com/EpsonAmerica), and Instagram (instagram.com/EpsonAmerica).
1 Worldwide 2011 - April 2022
2 Part of the ink from the included bottles is used for initial setup; yields are lower than those of replacement ink bottles. Replacement and included ink bottle yields based on the ISO/IEC 24712 pattern with Epson's methodology. Actual ink yields will vary considerably for reasons including images printed, print settings, temperature and humidity. Yields may be lower when printing infrequently or predominantly with one ink color. All ink colors are used for printing and printer maintenance, and all colors must be available for printing. For more information, visit www.epson.com/inkinfo
3 Actual savings and costs will vary considerably based on print tasks, print volumes and usage conditions. Savings and cost per ISO page are based on the cost of replacement ink bottles and the cost of enough standard cartridges to achieve the total page yields of the bottles using the MSRP (USD) and yields for Epson standard-capacity ink cartridges for similarly featured Epson consumer inkjet printers as of May 2022.
4 Based on average monthly document print volumes of about 150 pages.
5 Individual cartridges estimate based on print yields of a replacement set of black and color ink bottles as compared to Epson standard-capacity ink cartridges for similarly featured printers as of May 2022
6 See www.epson.com/voice for device compatibility. Epson Connect™ account and voice-activated account registration required.
7 Most features require an Internet connection to the printer, as well as an Internet- and/or email-enabled device. For a list of Epson Connect enabled printers and compatible devices and apps, visit www.epson.com/connect
8 Requires Epson Smart Panel App download. Data usage fees may apply.
EPSON, EcoTank, and Epson Smart Panel are registered trademarks, EPSON Exceed Your Vision is a registered logomark and Epson Connect is a trademark of Seiko Epson Corporation. All other product and brand names are trademarks and/or registered trademarks of their respective companies. Epson disclaims any and all rights in these marks. Copyright 2022 Epson America, Inc.
View original content to download multimedia:
SOURCE Epson America, Inc. | https://www.whsv.com/prnewswire/2022/08/16/epson-helps-students-families-jump-start-new-school-year/ | 2022-08-16T08:34:27Z |
LONDON, Aug. 16, 2022 /PRNewswire/ -- Fastmarkets, the industry-leading cross-commodity price reporting agency (PRA), has successfully completed another external assurance review of its key agricultural and metals price assessments.
Professional services company BDO carried out the independent assurance review and found that, as of June 30, 2022, Fastmarkets' responses were in line with the Principles for Oil PRAs set out by the International Organization of Securities Commissions (IOSCO) in 2012. The IOSCO principles create an overarching framework for Benchmarks, articulating guidance and principles ensuring transparency and openness. The assurance review process examines a firm's governance and controls framework, policies and methodologies in scope to verify their adherence to the PRA Principles
As stated by the European Securities and Markets Authority (ESMA), this external assurance review is sufficient to demonstrate compliance with the audit requirements of the EU Benchmark Regulation (BMR) for commodity benchmarks (paragraph 18 of Annex II).
The price assessments reviewed include some administered by Fastmarkets Benchmark Administration Oy (FBA Oy), which was incorporated in Finland in December 2020 to administer all benchmarks that are in scope of the BMR.
"Providing our customers with dependable prices backed by reliable methodologies is at the heart of what we do." The completion of an external assurance review of our process demonstrates our commitment to providing reliable, impartial, representative and transparent benchmarks,'' said Fastmarkets CEO Raju Daswani.
This is the first year that Fastmarkets audited the following agricultural price assessments: soybean, distiller's corn oil, used cooking oil and bleachable fancy tallow.
To obtain a copy of the independent assurance reports and to view Fastmarkets' price methodology/specifications, click here.
ABOUT FASTMARKETS: Fastmarkets is the industry-leading price reporting agency (PRA) for global commodities, providing price data, news, analytics and events for the metals and mining, forest products, the energy transition and agriculture markets. Fastmarkets' data is critical for customers seeking to understand and predict dynamic, sometimes opaque markets, enabling trading and risk management. Fastmarkets is a global business with a 130-year history built on trust and deep market knowledge. Its team of more than 450 people are located in global locations including London, Helsinki, Boston, New York, Shanghai, Beijing, Singapore, Brussels and São Paulo. Fastmarkets is part of Euromoney Institutional Investor PLC (LSE: ERM), a listed company on the London Stock Exchange. Euromoney is a leading international business-to-business information group focused primarily on the global commodities, banking and asset management markets.
View original content to download multimedia:
SOURCE Fastmarkets | https://www.whsv.com/prnewswire/2022/08/16/fastmarkets-successfully-completes-iosco-assurance-review-metals-agricultural-prices/ | 2022-08-16T08:34:34Z |
Innovation and sustainability are watchwords for a new generation of business leaders. In 50 MENA Leaders, TBD Media Group tells the stories of the region's companies collaborating for a better future
LONDON, Aug. 16, 2022 /PRNewswire/ -- Leaders from the Middle East and North Africa are consistently finding answers to some of the most pressing issues facing humanity. In a discourse that has been dominated by east versus west, the MENA region is producing solutions that will shape the future of the planet.
A groundbreaking project, 50 MENA Leaders, is putting these solutions and the businesses behind them on the world stage.
Acclaimed production company TBD Media Group has brought the MENA region's visionaries together to address the pressures on the systems underpinning our way of life.
In the documentary series, 50 MENA Leaders, TBD Media Group is providing a platform for MENA's brightest thought leaders to explain their vision for a better tomorrow.
Paolo Zanini, Founder and CEO at TBD Media Group says:
"Businesses are being recognised for the role they play in shaping lives, livelihoods and the very planet itself. As we recognise this power, we are seeing how some leaders are meeting the planet's challenges by embracing the responsibility to create a better world."
Zanini believes that this kind of engagement is essential to driving positive change. He says:
"The 50 MENA Leaders series is the brainchild of TBD Media Group. Our award-winning team of creatives and filmmakers are showcasing the business leaders of MENA who are leading the world in the direction we must travel together."
Companies featured in this launch:
Ecolab
Global Feeder Shipping
InterContinental Energy
Inogen Alliance
International Development Bank
Mastercard
The Red Sea Development Company
Saudi Electronic University
Tim Hortons
Al Fardan Exchange
More information on the 50 MENA Leaders Campaign may be found here:
https://www.globalthoughtleaders.org/50-mena-leaders and https://gulfnews.com/50-mena-leaders
About TBD Media Group:
TBD Media Group is an international, purpose-driven, media developer that helps companies, organizations and governments tell their brand stories in a human and direct way. Learn more at
https://www.tbdmediagroup.com/
Media Contact:
TBD Media Group
Anna Berkman
Head of Marketing
a.berkman@tbdmediagroup.com
Photo - https://mma.prnewswire.com/media/1877824/TBD_Media.jpg
View original content to download multimedia:
SOURCE TBD Media Group | https://www.whsv.com/prnewswire/2022/08/16/how-mena-region-is-meeting-challenges-changing-world/ | 2022-08-16T08:34:40Z |
Innovative Covers Designed to Improve Maintenance, Protect Aircraft & Pilots
SHERIDAN, Wyo., Aug. 16, 2022 /PRNewswire/ -- As the US military continues to look for ways to increase mission flexibility and protect its pilots and aircraft, industry pioneer Kennon Products is unveiling its innovative Portable Magnetic Aircraft Covers (PMAC). The entire PMAC line provides superior protection in a highly portable format.
Today's modern fighter jets — the F-22 and F-35 — are high precision, state-of-the-art flying computers susceptible to Foreign Object Debris (FOD). FOD can come from nature — birds, rodents, blowing dust, rain, and snow. It can also come from human error. Such was the case in May 2020, when an F-22 crashed near Eglin Air Force Base in Florida. Investigators determined the event resulted from human error — a piece of tape was left on the aircraft after servicing. The piece of tape impacted a flight control sensor and caused the pilot to eject (safely). However, the $200M+ F-22 jet was lost.
Kennon's covers protect aircraft, ease maintenance, and reduce deadly accidents by providing coverage that prevents FOD intrusion. They also reduce the need for tape.
"The best covers are the ones you have with you and the ones you use. Our PMAC covers are easier to see and remove; plus, they stow on board the aircraft," said Kennon CEO Joe Wright.
Unlike standard covers, Kennon's PMAC line of products can be folded and packed into a small compartment on the aircraft. This portability enhances mission flexibility and reduces the logistical footprint of moving traditional bulky covers and plugs from location to location. Because the covers stay with the aircraft, regardless of where it lands, crews can cover up the various intakes, exhausts, and ports. The jet will never be apart from its protective covers. Kennon can also print on the covers, including a squadron's graphics, tastefully displayed when the jets are parked.
The PMAC covers use various advanced composite materials and seals to withstand repeated washings and environmental exposure, including winds up to 70 mph. Kennon's covers protect the fighter jet canopies during maintenance without touching sensitive surfaces.
Kennon designed the F-22 Alpha Cover for line-to-line fitment. Made from UV-resistant polyurethane, the cover seals the probe from the elements without damaging fifth-generation LO (low observable) coatings. The fit is secure, even during extreme weather.
Kennon's PMAC line was born from a prototype first designed by Retired Air Force Technical Sergeant Daniel Caban, who witnessed the logistical challenges of transporting the complete set of plugs and covers that must go with each aircraft. Caban's prototype, featured in the Air Force's Spark Tank competition, prompted AFWERX, the Air Force's technology accelerator group, to award Kennon several contracts.
The initial award was to develop, manufacture, and commercialize the PMAC product line. Kennon has received additional contracts from the US Air Force that address other PMAC products, including multi-purpose wash covers and an advanced canopy protection system for the F-35 and F-22 are now in development.
"These technologies can be applied or scaled to other aircraft platforms, both fixed wing and rotorcraft. American allies worldwide also fly these aircraft, so we know there is a large market for this technology," Wright said.
Founded in 1984, Kennon Products is a leading designer and manufacturer of products that protect people and high-value assets for the military, aviation, and healthcare industries. The company employs more than 60 people at its Sheridan, Wyoming facility. Kennon is an employee-owned ESOP (employee stock ownership program) company. With engineering and manufacturing at its core, Kennon Products says yes to virtually any project whose goal is to protect high-value assets. Learn more about Kennon Products at kennonproducts.com.
Contact: Neal Leavitt, 760-639-2900, neal@leavcom.com
View original content:
SOURCE Kennon | https://www.whsv.com/prnewswire/2022/08/16/kennon-announces-portable-magnetic-aircraft-covers-military-fighter-jets/ | 2022-08-16T08:34:47Z |
BEIJING, Aug. 16, 2022 /PRNewswire/ -- On August 17, the "Super Brand Day" promotion activity of POP MART on AliExpress will be kicked off, attracting the attention of global fans.
With the theme of "Go For Fun", the promotion activity on this Super Product Day has gathered the attention of pop toy fans through the launch of new products and limited collections. On the day of the event, POP MART will utilize its overseas omni-channel to launch two blockbuster series products through AliExpress platform —SKULLPANDA-The Mare of Animals series and HIRONO-Little Mischief series. In addition, a number of limited products, such as MEGA COLLECTION 1000% SPACE MOLLY Mickey Mouse, Molly 2 Headed Figure, Black-Silver Ver. and STEAMPUNK BIKE LOVELY MOLLY, will also be released during the Super Brand Day, attracting dedicated news-watchers of pop toys.
In 2019, POP MART officially set foot on exploring the overseas cross-border e-commerce platforms and cooperated with Alibaba's AliExpress. This Super Brand Day is the fourth large-scale e-commerce activity that POP MART has participated in on AliExpress, targeting the U.S. and European markets.
Monetary spending from the millennials is lifting a wave on trendy collectable art toys that were once the domain of indie artists. Also known as designer toys, these figurines were typically rooted in creativity and uniqueness from pop culture. Consumers' awareness of art toys has reached a new height continuously, and the art toy industry is drawing attention from worldwide retail markets. POP MART, a pioneer in bringing art toy designs from 2D to 3D on a mass production basis, is also accelerating its path to the international stage.
Frost & Sullivan reports that the global art toy retail market grew from $8.7 billion in 2015 to $19.8 billion in 2019, at a 22.8% CAGR. By 2024, it is expected to be worth $41.8 billion, at a 16.1% CAGR from 2019. This new sector's global consumer spending and Compound Annual Growth Rate far exceed other cultural and creative industries. Moreover, its promising vision gives art toy fans and collaborators ample confidence to explore and innovate.
Over the past decade, POP MART has built a wide platform for art toys by focusing on discovering new artists, IP development and operations, consumer reaching, promoting art toys, and business incubators. POP MART has over 350 stores globally, and with the strong support of its supply chain, POP MART continues to lead the industry in introducing new art toys to the mainstream.
View original content to download multimedia:
SOURCE POP MART | https://www.whsv.com/prnewswire/2022/08/16/pop-toy-brand-pop-mart-greets-fans-with-new-products-aliexpresss-super-brand-day/ | 2022-08-16T08:34:53Z |
- Order intake rose by almost 50 percent year-on-year, marking a new 6M-high with €4.7 billion
- Sales volume increased by almost 50 percent to €3.4 billion
- Adjusted EBIT increased by approximately two thirds to €202 million; adjusted EBITDA rose to €222 million, plus over 60 percent
- Global workforce increases to almost 8,600 employees
- Updated year-end outlook: sales of almost €7.0 billion expected
STUTTGART, Germany, Aug. 16, 2022 /PRNewswire/ -- Exyte GmbH (Exyte), a global leader in the design, engineering, and delivery of high-tech facilities, continues its strong performance during the first half of fiscal year 2022 successfully progressing on its accelerated growth path, its "Pathway to Ten."
In the first half of 2022, Exyte recorded an increase of almost 50 percent year-on-year both in sales and order intake. Sales amounted to €3.4 billion (6M/2021: €2.3 billion) due to large scale projects in the EMEA and APAC regions. Order intake reached €4.7 billion (6M/2021: €3.2 billion) driven by strong client demand especially in Southeast Asia.
Exyte's profitability further improved resulting in an adjusted EBITDA of €222 million (6M/2021: €136 million) and adjusted EBIT of €202 million (6M/2021: €122 million). The adjusted EBITDA margin improved by 0.6 percentage points to 6.6 percent (6M/2021: 6.0 percent). With 6.0 percent, the adjusted EBIT margin is also 0.6 percentage points higher compared to previous year (6M/2021: 5.4 percent).
"We are pleased with our increased sales as well as the robust growth in incoming orders in the first six months of 2022," says Dr. Wolfgang Büchele, CEO of Exyte. "Despite the economic headwind, we are able to continue our growth path, our 'Pathway to Ten.' To support our ambitious journey, we need highly motivated and skilled employees. We increased our global workforce by another 1,100 employees to almost 8,600 since the beginning of 2022. At the end of the year Exyte expects to have more than 9,000 employees worldwide. Together with our growing, highly dedicated workforce we are taking Exyte to the next level."
Financial targets for 2022 will be outperformed despite uncertainties
"Notwithstanding the current global geopolitical and economic uncertainties with inflation, supply shortages, and impending energy scarcities and rising prices, we expect to outperform our financial targets reaching annual sales of almost €7.0 billion by the end of 2022," states Peter Schönhofer, CFO of Exyte. Of course, neither Exyte, nor its clients can escape the current tense situation. "Consequently, we need to monitor global and local developments very closely in the coming weeks and months and react appropriately if necessary," adds Schönhofer.
In accordance with an increase in sales, a respective rise in adjusted EBITDA and adjusted EBIT is expected – envisaging a forecasted adjusted EBITDA of approximately €450 million, respectively an adjusted EBIT above €400 million for the full year of 2022. Exyte is constantly progressing on its "Pathway to Ten" with the goal of reaching €10.0 billion annual sales in 2027. The high order backlog of €8.2 billion is the base for future sales growth. Incoming orders in 2022 are assumed to be on a comparable high level as in 2021.
Continued growth realized in all business segments; Advanced Technology Facilities remains the main growth driver, however Biopharma & Life Sciences is a strategic growth segment for Exyte
In the first six months of 2022 all three business segments acquired substantial new projects across all regions. With a sales share of around 86.8 percent of the group's total sales, the business segment Advanced Technology Facilities recorded a sales increase to €2.9 billion (6M/2021: €2.0 billion). Incoming orders increased to €4.2 billion (6M/2021: €2.7 billion). The segment continues to benefit from the constantly growing demand for semiconductor facilities especially driven by major players in Asia-Pacific. New Advanced Technology Facilities projects include semiconductor facilities for the Massachusetts Institute of Technology (MIT) in the USA and semiconductor facilities for AT&S (Austria Technologie & Systemtechnik AG) in Malaysia and Austria, among others.
The business segment is also benefiting from the increasing demand for battery powered electric vehicles. In Germany, Exyte is currently building the first plant outside of China for a major Chinese battery manufacturer.
Biopharma & Life Sciences is a strategic growth segment for Exyte. Due to major projects in Singapore and Malaysia (amongst others a major Active Pharmaceutical Ingredients (API) facility for Pfizer), the segment's sales reached €291 million (6M/2021: €170 million), accounting for 8.7 percent of total sales of the group (6M/2021: 7.6 percent). Order intake totaled €283 million. In Germany, Exyte is building the mRNA competence center for Wacker Chemie AG. The new facility is a lighthouse project for the business segment Biopharma & Life Sciences.
Benefiting from projects in Germany and Israel, sales of the Data Center segment almost doubled reaching €114 million (6M/2021: €59 million). The order intake rose by almost 50 percent to €233 million (6M/2021: €158 million). In addition to the projects in Germany and Israel, the business segment currently implements data center projects in Austria, Denmark, Malaysia, and Taiwan, amongst others.
Key Financial Figures at a glance
*The percentage is calculated based on the values in million.
For more details about the 6M-results 2022 please visit the website.
About Exyte
Exyte is a global leader in the design, engineering, and delivery of ultra-clean and sustainable facilities for high-tech industries. With cutting-edge expertise developed over more than a century, we serve clients in the sophisticated markets of semiconductors, battery cells, pharmaceuticals, biotechnology, and data centers. Exyte offers a full range of services from consulting to managing the implementation of turnkey solutions with the highest standards in safety and quality to our customers worldwide. We create a better future by enabling key industries to enhance the quality of modern life. In 2021, Exyte generated sales of EUR 4.9 billion with around 7,400 employees worldwide.
Logo - https://mma.prnewswire.com/media/1487100/Exyte_Logo.jpg
Contact:
René Ziegler
Vice President, Corporate Communications & Investor Relations
+49 711 88044606
+49 172 5838786
rene.ziegler@exyte.net
www.exyte.net
View original content to download multimedia:
SOURCE Exyte | https://www.whsv.com/prnewswire/2022/08/16/profitable-growth-continues-exyte-with-remarkable-6m2022-results-uplifted-year-end-outlook/ | 2022-08-16T08:35:00Z |
LUND, Sweden, Aug. 16, 2022 /PRNewswire/ -- Safeture in partnership with Falck Global Assistance & Aeger Group has secured a two-year public procurement agreement regarding employee safety and travel risk management for Innovation Norway.
Established in 2004, Innovation Norway is a state-owned company that offers capital, programs, and services to strengthen and stimulate entrepreneurship, innovation, and sustainable growth for Norwegian businesses and industry. Headquartered in Oslo, Norway, Innovation Norway has more than 700 employees in eleven counties in Norway and more than 30 countries worldwide. Together with its partner, Falck Global Assistance & Aeger Group, Safeture won the two-year procurement, including Safeture solutions such as Facilities, Travel Management Company Integration, and the Crisis Management Module.
"As an employer with several hundred employees around the world, this agreement provides Innovation Norway with access to Safeture's unique platform for managing employee safety, medical and security assistance, no matter where they are. The agreement also shows that our business model - which is based on collaboration with leading partners such as Falck Global Assistance & Aeger Group - works well,'' says Magnus Hultman, CEO of Safeture.
"Safeture's platform is an excellent tool to ensure duty of care and enhance situational awareness and readiness," says Klaus A. Trapp, Head of Security Innovation Norway.
For additional information, visit safeture.com or contact:
Safeture CEO Magnus Hultman: +46 706 00 81 66. Magnus.hultman@safeture.com
About Innovation Norway
Innovation Norway is the Norwegian Government's most important instrument for innovation and development of Norwegian enterprises and industry. We support companies in developing their competitive advantage and to enhance innovation. By combining local industry knowledge and international networks with the business ideas and the motivation of entrepreneurs, the foundation for new successful businesses is created.
About Safeture AB
Safeture (founded in 2009) is a Software as a Service (SaaS) company based in Sweden. The company offers a complete cloud-based platform designed to manage employee safety and risk/crisis management. Through world-leading technology and innovative solutions, Safeture helps more than 3 600 companies and organizations to protect what matters most - their employees. Safeture allows corporations to effectively automate safety and security while seamlessly integrating the software to become a natural part of their internal processes. The Safeture share is listed on NASDAQ First North Growth Market Stockholm (ticker: SFTR). Erik Penser Bank AB is the Certified Adviser. Ph: +46 8-463 83 00 E-mail: certifiedadviser@penser.se
For additional information, visit www.safeture.com or contact:
Safeture CEO Magnus Hultman: +46 706 00 81 66. Magnus.hultman@safeture.com
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE Safeture AB | https://www.whsv.com/prnewswire/2022/08/16/safeture-partnering-with-falck-global-assistance-amp-aeger-group-wins-agreement-with-innovation-norway/ | 2022-08-16T08:35:07Z |
Second Open Letter to TRQ Independent Directors Focuses on Unjust Business Dealings by Rio Tinto and Long-Time Concerns of Minority Owners
HOUSTON, Aug. 16, 2022 /PRNewswire/ -- SailingStone Capital Partners, a long-time owner of Turquoise Hill Resources Ltd. (TSX: TRQ) (NYSE: TRQ), has delivered the attached letter to the Turquoise Hill Independent Directors:
Dear Independent Directors of Turquoise Hill Resources Ltd.,
SailingStone Capital Partners applauds the decision of the Turquoise Hill Resources Special Committee to reject Rio Tinto's opportunistic offer to acquire the minorities' stake in TRQ for C$34/share.
As one of the largest, lowest cost, and longest duration copper/gold assets ever discovered, Oyu Tolgoi is a crown jewel. The proposed acquisition price is nowhere near the intrinsic value of Oyu Tolgoi, as it values the Company at less than 35% of capital invested to date and represents a 60% discount to Rio Tinto's own cost basis in TRQ, a position that Rio acquired over a decade ago when the net present value was far lower and the risks far greater than today. In the next few months, the underground mine will achieve sustainable first production, unlocking billions of dollars in annual free cash flow for decades into the future even before the impact of potential expansions. Tier 1 copper assets with brownfield growth options are increasingly rare and therefore increasingly valuable, particularly given how critical copper is in the race to decarbonize and expand the world's energy systems. Rio Tinto's opportunistic bid did not compensate TRQ minority shareholders adequately for any of these realities.
In addition, we appreciate that "Rio Tinto welcomes the continued investment by Turquoise Hill minority shareholders and their pro rata sharing of future risks and funding obligations." Unfortunately, most of the risks and funding obligations "shared" over the last several years have come as the result of Rio's incompetence, including the incremental equity raise which now must be addressed. However, we welcome Rio's continued participation as mine developer and operator and trust that they have addressed their internal shortcomings so that all Oyu Tolgoi stakeholders can benefit from the mine's incredible employment, business development, and free cash flow potential.
Lastly, we note the following from Rio Tinto's press release.
As previously disclosed, Rio Tinto is not interested in pursuing any alternative transaction, including any such transaction which would result in the sale of Rio Tinto's interest in Turquoise Hill or the acquisition by a third party of Turquoise Hill or Oyu Tolgoi in partnership with or independent of Rio Tinto.
Apparently, Rio Tinto isn't interested in selling their stake in TRQ, even at a price which it claims represents "compelling value" for the seller. More importantly, this statement clearly is intended to preempt any price discovery process which might allow minority owners to be fairly compensated for their 49.2% stake in the Company. While we appreciate that Rio Tinto has certain rights, it cannot and should not preclude potentially interested parties from approaching Turquoise Hill, nor can it preclude the independent directors from considering a combination or transaction from any party which might crystalize the true value of Oyu Tolgoi. In other words, if Rio wants complete control, they can acquire it for a price. The Special Committee has determined that price is meaningfully higher than C$34/share, and we agree with that conclusion.
Best regards,
SailingStone Capital Partners LLC
SailingStone Capital Partners, a division of Pickering Energy Partners, provides investment solutions in the global natural resource space with a specific focus on the industrial businesses, commodities and infrastructure assets which will enable the energy transition. SailingStone manages concentrated, long-only equity portfolios for institutional investors.
For media inquiries:
Petree Partners LLC
Jennifer Petree / Tina Tallant
713.269.3776
For investor inquiries:
SailingStone
MacKenzie Davis
ir@sailingstonecapital.com
View original content to download multimedia:
SOURCE SailingStone Capital Partners | https://www.whsv.com/prnewswire/2022/08/16/sailingstone-applauds-turquoise-hill-response-rio-tintos-offer/ | 2022-08-16T08:35:14Z |
Net income - NIS 2 billion ($571 million) in the second quarter and NIS 3.6 billion ($1.03 billion) in the first half of the year
Return on equity - 18.5% in Q2 and 17.1% in H1
Credit portfolio - 12.3% growth in H1
Further improvement in the efficiency ratio - 35% for Q2 and 39.7% for H1 2022
Leumi to distribute a NIS 400 million ($114 million) dividend
TEL AVIV, Israel, Aug. 16, 2022 /PRNewswire/ --
- Net income in the second quarter of 2022 reached NIS 2 billion ($571 million), compared to NIS 1.7 billion ($486 million) in the corresponding quarter last year. Net income in the first half of 2022 reached NIS 3.6 billion ($1.03 billion), compared to NIS 3 billion ($857 million) in the corresponding period last year.
- Return on equity in the second quarter of 2022 was 18.5%, compared with 16.8% in the corresponding quarter last year. Return on equity in the first half of 2022 was 17.1%, compared with 15.5% in the corresponding period last year.
- Efficiency ratio in the second quarter of 2022 was 35%, compared with 42% in the corresponding quarter last year. The efficiency ratio in the first half of 2022, net of the results of Leumi USA, was 39.7%, compared with 45% in the corresponding period last year. The efficiency ratio during the reporting period and the second quarter of 2022 was affected by the merger of Leumi USA with Valley National Bank.
- Finalized merger between Leumi USA and Valley Bank - On April 1, 2022, the merger between Leumi USA and Valley National Bank was completed. As a result of the merger, a profit of NIS 645 million ($184 million), net of tax, was recorded (out of this amount, NIS 194 million - $55 million - was recorded during the first quarter of 2022, with the balance being recorded in the second quarter).
- Dividend - Leumi (TASE: LUMI) will distribute a NIS 400 million dividend ($114 million), which represents 20% of the net income for the second quarter of 2022.
- Growth in the credit portfolio - the Bank continues to focus its growth on the credit portfolio in the corporate, commercial and mortgage segments. During the first half of the year, the credit portfolio grew by 12.3%.
- Loan loss expenses (income) in the first half of 2022, net of the results of Leumi USA, reflect an expense rate of 0.04% of the average outstanding loans to the public, compared to an income rate of 0.26% in the corresponding period last year. The loan loss expense during the first half of the year stems from an increase in the collective provision, which was offset by collections.
- Net interest income in the first half of 2022, net of the results of Leumi USA, reached NIS 5.8 billion ($1.7 billion), compared to approx. NIS 4.7 billion ($1.3 billion) in the corresponding period last year, a 23% increase. The increase stems from a growth in the Bank's credit portfolio and from gaps in the CPI and interest rates from one period to another.
- Non-interest finance income in the first half of 2022, net of the results of Leumi USA, reached NIS 0.7 billion ($200 million), compared to approx. NIS 1 billion ($286 million) in the corresponding period last year. The income during the reporting period was mainly affected by the profit from Leumi USA's merger with Valley National Bank and from market declines.
- Total operating and other expenses in the first half of 2022, net of the results of Leumi USA, were down by NIS 116 million ($33 million) compared with the same period last year, a 3.4% decrease.
- Capital ratios - Common Equity Tier 1 capital ratio as at June 30, 2022 was 11.25%, and the total capital ratio was 14.00%.
- Sale of Leumi's HQ in Tel Aviv ('Beit Mani') - As part of the preparations to complete the transition of the Bank's headquarters to Lod in 2023, during April 2022 the Bank entered into an agreement to sell one of its headquarters buildings in Tel Aviv. This sale is expected to generate a pre-tax capital gain of NIS 524 million ($150 million), to be recorded in 2023.
Development of balance sheet items (a) :
- Shareholder's equity as at June 30, 2022 totaled NIS 47.1 billion ($13.5 billion), compared to NIS 40.8 billion ($11.7 billion) as at June 30, 2021.
- Net loans to the public as at June 30, 2022 totaled NIS 365 billion ($104 billion), compared with NIS 298 billion ($85 billion) as at June 30, 2021, a 22.5% increase. Most of the increase is due to mortgage, middle-market and corporate loans.
- Deposits by the public as at June 30, 2022 totaled NIS 533 billion ($152 billion), compared with NIS 464 billion ($133 billion) as at June 30, 2021, a 14.9% increase.
Leumi Group - Principal Data from the Financial Statements
The data in this press release has been converted into US dollars solely for convenience purposes, at the representative exchange rate published by the Bank of Israel on June 30, 2022, NIS 3.50.
Conference Call Details
A conference call to discuss the results will be held today at 5 PM (Israel); 3 PM (UK); 10:00 AM (ET).
Conference Call Dial-in Details (no passcode required):
Israel: 03-9180610
UK: 0-800-917-9141
US & Canada: 1-888-407-2553
All other locations: +972-3-918-0610
The call will be accompanied by a presentation which will be published today on the Israeli Securities Authority reporting website (MAGNA). It will also be available on the Leumi website under Investor Relations, in the Financial Statements page, Investor Presentation and Conference Call.
An archived recording will be available on the Leumi website one business day after the call ends.
For more information visit www.leumi.co.il or contact Adi Molcho Weinstein, VP, Head of Investor Relations, at investorrelations@bankleumi.co.il
The conference call does not replace the need to review the latest periodic/quarterly reports containing full information, including forward-looking information, as defined in the Israeli Securities Law, and set out in the aforementioned reports.
Photo: https://mma.prnewswire.com/media/1824592/Leumi_CEO.jpg
View original content:
SOURCE Bank Leumi | https://www.whsv.com/prnewswire/2022/08/16/strong-results-leumi-second-quarter-first-half-2022/ | 2022-08-16T08:35:21Z |
Leader in Education will Drive Organization's Reputation as Premiere Source of Educational Content for Customers and Prospects
BOSTON, Aug. 16, 2022 /PRNewswire/ -- Thought Industries, the global leader in Enterprise Learning software, announced this week the appointment of Daniel Quick, to Senior Vice President of Content Strategy, reflecting the organization's focus on delivering world-class thought leadership content to the industry. Joining the Thought Industries team in 2020, Daniel's leadership has been instrumental in positioning the company as a powerhouse of industry voices and strategic resources.
Quick has been an active participant on the front lines of customer education, creating results-driven customer learning and brand-building thought leadership at leading software brands, including Optimizely, Asana, and now Thought Industries. This new role will position him as a leader in charge of planning, designing, and launching that will both build brand identity and fuel business growth.
"Daniel is such a valuable member of the Thought Industries leadership team, bringing tremendous knowledge, excitement, and innovation to his work at every turn," says Barry Kelly, CEO of Thought Industries. "He has a true understanding of where to take our organization next as we double down on supporting the customer, partner, and professional learning market with exceptional and thoroughly researched thought leadership content. I know this move for Daniel will mean huge wins for both his career and the future of our company."
As Senior Vice President, Content Strategy, Daniel Quick will report directly to David Downing, Chief Marketing Officer, Thought Industries.
Thought Industries powers the business of learning with our industry-leading learning technology. We were founded in 2014 around the core belief that online learning experiences should be modern, intuitive, engaging, and scalable. Today, our growing team builds and maintains the only learning solution with completely native tools and integrations that drive higher engagement, learner proficiency, and retention rates for our customers. Headquartered in Boston, Thought Industries has offices across North America and Europe. For more information, visit thoughtindustries.com and follow us on LinkedIn and Twitter.
View original content to download multimedia:
SOURCE Thought Industries | https://www.whsv.com/prnewswire/2022/08/16/thought-industries-appoints-daniel-quick-senior-vice-president-content-strategy/ | 2022-08-16T08:35:27Z |
- Valour and justTRADE have agreed to a marketing cooperation which will introduce Valour as a provider of crypto products for justTRADE clients in Germany
- justTRADE is operating the online brokerage platform "justtrade.com" through which it is offering brokerage services to its institutional and retail clients.
TORONTO, Aug. 16, 2022 /PRNewswire/ - Valour Inc. (NEO: DEFI) (GR: RMJR) (OTCQB: DEFTF), a technology company bridging the gap between traditional capital markets and decentralized finance, today announced a partnership with German online brokerage platform, justTRADE. The partnership will retain Valour as the provider of physically-backed crypto ETPs to the online broker's savings plan program (Sparplan) by the end of the year. Valour will also offer its entire range of crypto ETPs like Bitcoin, Ethereum as well as others like Enjin and Uniswap immediately.
Currently justTRADE provides its customers with innovative products and services so that they can carry out their banking and securities trading transactions easily and conveniently. The partnership marks a first for justTRADE investors opting to add digital assets into their banking accounts with Valour's zero management fees exclusive to Bitcoin and Ethereum.
"We are very excited to offer German clients who wish to add crypto security assets to their portfolio the compelling option to do so thanks to justTRADE, our first partner in the DACH region," said Marco Infuso, Chief Sales Officer of Valour. "This partnership provides an additional avenue for investors to access Valour products in a transparent and safe manner – another milestone in expanding our global roadmap."
"For an outstanding customer experience, investors are now able to trade crypto products by Valour which fit the needs of our demanding clients and ensures market participation at lowest costs - especially in the most-traded Cryptos Bitcoin and Ethereum", said Michael B. Busshaus, Managing Director and Co-Founder of justTRADE. Together with our partner Valour, justTRADE has succeeded in offering investments into Bitcoin and Ethereum for free, meaning zero order fees as well as zero management fees – absolutely unique to the market that our clients have longed for a while - only the standard market spreads of the exchange needs to be paid."
Learn more about Valour and justTRADE at https://valour.com/ and https://www.justtrade.com/
Valour Inc. is a technology company bridging the gap between traditional capital markets and decentralized finance. Our mission is to expand investor access to industry-leading decentralized technologies which we believe lie at the heart of the future of finance. On behalf of our shareholders and investors, we identify opportunities and areas of innovation, and build and invest in new technologies and ventures in order to provide trusted, diversified exposure across the decentralized finance ecosystem. For more information or to subscribe to receive company updates and financial information, visit https://valour.com
justTRADE is a Frankfurt-based online broker that consistently offers traders the trading of securities and cryptos for €0 order commission (plus standard market spreads) and from a single securities account. More than 500,000 securities - shares, ETFs, ETCs, wikifolios, certificates, warrants and leveraged products - can now be traded via iOS and Android or via the desktop browser, both on-exchange via three exchanges (LS Exchange, Quotrix and Tradegate Exchange) and off-exchange via five trading partners (Citi, Société Générale, L&S, UBS and Vontobel). Around 1,500 ETFs, ETCs and ETPs from twelve providers complete the offering. With the ability to trade also 21 native cryptos from the same custody account as all securities, justTRADE offers its customers an unprecedented offering in Germany. In addition, a total of around 200 securities are also eligible for savings plans. https://www.justtrade.com/
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the Marketing Agreement and the partnership; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by Valour and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour ETPs by exchanges; investor demand for the Joint Products; growth and development of DeFi and cryptocurrency sector; rules and regulations with respect to DeFi and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
All information contained in this press release with respect to Valour and justTRADE was supplied by the parties respectively for inclusion herein, and each party and its directors and officers have relied entirely on the other party for any information concerning the other party. Valour has not conducted due diligence on the information provided by justTRADE and does not assume any responsibility for the accuracy or completeness of such information.
View original content to download multimedia:
SOURCE Valour, Inc. | https://www.whsv.com/prnewswire/2022/08/16/valour-inc-first-partnership-with-german-broker-justtrade-introduce-valour-crypto-products-etps-retail-institutional-clients/ | 2022-08-16T08:35:34Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- Violet, the first-ever cultural competence credentialing and upskilling platform for clinicians, announced today that it has raised $4.1M in seed financing, bringing their total raised amount to $5.3M. The round was led by SemperVirens along with industry-leading investors including Northwell Holdings, the venture arm of Northwell Health, The Venture Collective, Hopelab, and Naomi Allen (Brightline Founder & CEO). The seed funding will be used to continue showing improved patient health outcomes through expanding Violet's credentialing reach, building best-in-class inclusivity training, and powering more care coordination.
"Diversity, equity, and inclusion are critical to the future of health care. Violet's provider credentialing platform is the foundation for delivering better health outcomes for all," said Allison Baum Gate, General Partner at SemperVirens, who will take a board seat. "We've heard from key stakeholders like employers, providers, and payors that they need a better way to connect patients with the right providers. The existing system is not built for culturally diverse patients. That's where Violet comes in."
Violet created a proprietary framework that measures cultural competence in clinicians and uses that data to build personal pathways to upskill and power identity-centered care coordination for patients. Better health outcomes are immediately visible: 84% of clinicians learning with Violet report increased inclusivity with patients and our care coordination has shown retention of patients at 3X the industry standard on day 60 of care. Since its establishment in 2020, Violet has enabled their customers, industry-leading companies like Brightline, Galileo, Parsley Health, Headway, Octave, and NOCD to launch identity-centered care for their patients. Violet's customers are continuing to prove the power of inclusive care with improved patient health outcomes.
Violet's earliest investor, The Venture Collective immediately shared the vision. "We believe personalized care is here to stay," said Cat Hernandez, Partner at The Venture Collective. "Violet is well-positioned to provide a category-defining solution, as a first-mover in the space with a diverse founding team."
By 2045, over half of Americans will be diverse with race, sexual orientation, gender identity, and more. Yet, health care is failing these Americans. Racial disparities alone have led to 3.5M life years lost in just 2020. Violet's team — a group of mission-driven queer, BIPOC, and Disabled individuals—believes the solution is at the clinician level, thereby improving health outcomes and saving almost $100B in excess care spend.
"Collaboration with Violet will advance the provision of identity-centered care by connecting patients with the most appropriate medical providers based on cultural competencies, addressing a significant gap in the current delivery of care," said Northwell Holdings' President and CEO Rich Mulry.
"Violet has created provider data that powers identity-centered care, allowing every patient to find the right provider for them," said Gaurang Choksi, Founder and CEO of Violet, "This round of funding will fuel growth of both our technology and our reach, so we can truly reshape the infrastructure of health care. We won't stop until every single patient in this country can access the care they deserve."
Learn more about how Violet enables identity-centered care at www.joinviolet.com/welcome
Violet is the first cultural competence credentialing and upskilling platform for clinicians. Research shows that inclusive care is proven to generate better health outcomes and Violet's credentialing platform is the first step to building health equity for all.
SemperVirens is a leading US-based, ecosystem-driven investment firm focused on companies in the workforce, healthcare, and financial technology markets. The firm has a network of executives, industry analysts, and distribution partners that serve as a proprietary platform for accessing, analyzing, and amplifying the most promising companies in its target sectors.
Media contact
Carson Quinn
ZindseyMEDIA for Violet
carson@zindsey.com
312.339.9779
View original content to download multimedia:
SOURCE Violet | https://www.whsv.com/prnewswire/2022/08/16/violet-first-cultural-competence-credentialing-upskilling-platform-raises-53m-power-inclusive-health-care/ | 2022-08-16T08:35:41Z |
China sets sanctions on Taiwan figures to punish US, island
BEIJING (AP) - China imposed visa bans and other sanctions Tuesday on Taiwanese political figures as it raises pressure on the self-governing island and the U.S. in response to successive congressional visits.
The sanctions come a day after China set more military exercises in the seas and skies surrounding Taiwan in response to what it called “collusion and provocation between the U.S. and Taiwan.” There’s been no word on the timing and scale of the Chinese exercises.
They were announced the same day a U.S. congressional delegation met with Taiwan’s President Tsai Ing-wen, and after a similar visit by U.S. House Speaker Nancy Pelosi, the highest-level member of the U.S. government to visit Taiwan in 25 years. The Chinese government objects to Taiwan having any official contact with foreign governments because it considers Taiwan its own territory, and its recent saber rattling has emphasized its threat to take the island by military force.
Pelosi’s visit was followed by nearly two weeks of threatening Chinese military exercises that included the firing of missiles over the island and incursions by navy ships and warplanes across the midline of the Taiwan Strait that has long been a buffer between the sides.
In Washington, U.S. State Department spokesperson Ned Price told reporters that China had overreacted with its “provocative and totally unnecessary response to the congressional delegation that visited Taiwan earlier this month.”
The targets of China’s latest sanctions include Taiwan’s de facto ambassador to the U.S., Bi-khim Hsiao and legislators Ker Chien-ming, Koo Li-hsiung, Tsai Chi-chang, Chen Jiau-hua and Wang Ting-yu, along with activist Lin Fei-fan.
They will be barred from traveling to mainland China, Hong Kong and Macao, and from having any financial or personal connections with people and entities in those areas, according to the ruling Communist Party’s Taiwan Work Office.
The measures were designed to “resolutely punish” those considered “diehard elements” supporting Taiwan’s independence, the official Xinhua News Agency said.
Premier Su Tseng-chang, leader of the Legislature You Si-kun and Foreign Minister Joseph Wu were already on China’s sanctions list and will face more restrictions, Xinhua said.
China exercises no legal authority over Taiwan and it’s unclear what effect the sanctions would have. China has refused all contact with Taiwan’s government since shortly after the 2016 election of Tsai, who was overwhelmingly reelected in 2020.
Tsai’s pro-independence Democratic Progressive Party also controls the legislature, and the vast majority of Taiwanese favor maintaining the status-quo of de facto independence amid strong economic and social connections between the sides.
China accuses the U.S. of encouraging the island’s independence through the sale of weapons and engagement between U.S. politicians and the island’s government. Washington says it does not support independence, has no formal diplomatic ties with the island and maintains that the two sides should settle their dispute peacefully — but it is legally bound to ensure the island can defend itself against any attack.
Taiwan has put its military on alert, but has taken no major countermeasures against the Chinese measures. That has been reflected in the overriding calm and large spread ambivalence among the public, who have lived under threat of Chinese attack from more than seven decades.
Taiwan announced air force and ground-to-air missile drills for Thursday and Friday.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/08/16/china-sets-sanctions-taiwan-figures-punish-us-island/ | 2022-08-16T09:32:48Z |
China sets sanctions on Taiwan figures to punish US, island
BEIJING (AP) - China imposed visa bans and other sanctions Tuesday on Taiwanese political figures as it raises pressure on the self-governing island and the U.S. in response to successive congressional visits.
The sanctions come a day after China announced more military exercises in the seas and skies surrounding Taiwan because of what it called “collusion and provocation between the U.S. and Taiwan.” There’s been no word on the timing and scale of the Chinese exercises.
They were announced the same day a U.S. congressional delegation met with Taiwanese President Tsai Ing-wen, and after a similar visit by U.S. House Speaker Nancy Pelosi, the highest-level member of the U.S. government to visit Taiwan in 25 years. The Chinese government objects to Taiwan having any official contact with foreign governments because it considers Taiwan its own territory, and its recent saber rattling has emphasized its threat to take the island by military force.
Pelosi’s visit was followed by nearly two weeks of threatening Chinese military exercises that included the firing of missiles over the island and incursions by navy ships and warplanes across the midline of the Taiwan Strait that has long been a buffer between the sides.
In Washington, U.S. State Department spokesperson Ned Price told reporters that China had overreacted with its “provocative and totally unnecessary response to the congressional delegation that visited Taiwan earlier this month.”
The targets of China’s latest sanctions include Taiwan’s de facto ambassador to the U.S., Bi-khim Hsiao, and legislators Ker Chien-ming, Koo Li-hsiung, Tsai Chi-chang, Chen Jiau-hua and Wang Ting-yu, along with activist Lin Fei-fan.
They will be barred from traveling to mainland China, Hong Kong and Macao, and from having any financial or personal connections with people and entities on the mainland, according to the ruling Communist Party’s Taiwan Work Office.
The measures were designed to “resolutely punish” those considered “diehard elements” supporting Taiwan’s independence, China’s official Xinhua News Agency said.
Premier Su Tseng-chang, leader of the legislature You Si-kun and Foreign Minister Joseph Wu were already on China’s sanctions list and will face more restrictions, Xinhua said.
China exercises no legal authority over Taiwan and it’s unclear what effect the sanctions would have. China has refused all contact with Taiwan’s government since shortly after the 2016 election of Tsai, who was overwhelmingly reelected in 2020.
Taiwan’s Foreign Ministry tweeted its appreciation for the most recent congressional visit, adding that “Authoritarian #China can’t dictate how democratic #Taiwan makes friends, wins support, stays resilient & shines like a beacon of freedom.”
Tsai’s pro-independence Democratic Progressive Party also controls the legislature, and the vast majority of Taiwanese favor maintaining the status quo of de facto independence amid strong economic and social connections between the sides.
China accuses the U.S. of encouraging the island’s independence through the sale of weapons and engagement between U.S. politicians and the island’s government. Washington says it does not support independence, has no formal diplomatic ties with the island and maintains that the two sides should settle their dispute peacefully — but it is legally bound to ensure the island can defend itself against any attack.
Taiwan has put its military on alert, but has taken no major countermeasures against the Chinese actions. That has been reflected in overriding calm and widespread ambivalence among the public, who have lived under threat of Chinese attack for more than seven decades.
Taiwan’s Defense Ministry announced air force and ground-to-air missile drills would be held later in the week.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/08/16/china-sets-sanctions-taiwan-figures-punish-us-island/ | 2022-08-16T09:38:58Z |
Mom arrested after 2 toddlers found in hot car outside Walmart
OKLAHOMA CITY (KOCO) - Police arrested a mother after they say she left her two 2-year-old daughters in the back seat of a hot car while she was grocery shopping at Walmart.
The incident occurred Sunday at a Walmart Supercenter in Oklahoma City. At 2:22 p.m., the mom walked into the store alone. Forty minutes later, she walked out to find her car surrounded by police officers.
Police say a stranger saw two 2-year-old girls unconscious in the back seat of the mom’s car and took action. The girls were in their car seats, with temperatures outside hitting nearly 100 degrees.
“Actually, forced their way into the sunroof, unlocked the doors, got the kids out of the car. They were lethargic at the time,” said Oklahoma City Police Sgt. Gary Knight.
A Walmart security officer put the kids into her air-conditioned car.
Police say the store made numerous intercom announcements, repeating the vehicle’s tag number, but no one ever came out.
“It doesn’t matter how important your errand is; those kids are the most important thing, or at least, they should be,” said CEO Joe Dorman of the Oklahoma Institute for Child Advocacy.
He says if you see a child locked in a hot car, don’t hesitate.
“They are not only well within their right to go through the car, even if it damages the car; I would say it’s encouraged to make sure those kids are safe. For a parent or guardian, just to think they would leave their kids in a car on a hot day like that, it’s just astounding,” he said.
Police say the toddlers are expected to be OK. They are now with family members.
Their mother is facing two complaints of child neglect.
Copyright 2022 KOCO via CNN Newsource. All rights reserved. | https://www.whsv.com/2022/08/16/mom-arrested-after-2-toddlers-found-hot-car-outside-walmart/ | 2022-08-16T10:04:56Z |
HOD HASHARON, Israel, Aug. 16, 2022 /PRNewswire/ -- Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT), a leading global provider of innovative network intelligence and security solutions for service providers and enterprises worldwide, today announced its unaudited second quarter 2022 financial results.
Second Quarter 2022 Financial Highlights
- Second quarter revenues were $32.8 million compared with $35.3 million in the second quarter of last year;
- Gross margin on a non-GAAP basis was 70%;
- GAAP operating loss was $6.5 million and non-GAAP operating loss was $4.2 million;
- GAAP net loss was $6.2 million and non-GAAP net loss was $4.2 million.
Financial Outlook
For 2022, management adjusts its previously announced guidance as follows:
- Revenues to be between $125 - 130 million; (the third quarter of 2022 is expected to be approximately $25 million);
- Additional recurring security deals to be executed, providing incremental MAR** of more than $180 million for the full year 2022;
- December 2022 total ARR* including SECaas ARR* and Support & Maintenance ARR* to be between $50-52 million, representing approximately 15% year-over-year growth versus 2021 at the midpoint;
- December 2022 SECaas ARR* to be approximately $9 million;
- Recurring security revenue to be approximately $7 million.
Management Comment
Erez Antebi, President & CEO of Allot, commented, "Several sizeable CAPEX deals that we expected to conclude and be able to at least partially deliver in the second and third quarters, are now not expected to close before the fourth quarter. As a result, we are modifying our revenue forecast for the remainder of this year."
Continued Mr. Antebi, "Looking at the DPI market in general, we continue to see many opportunities and an overall solid DPI market. In the SECaas business, we closed several new deals this quarter and 2 additional operators launched the security service."
"We are fully aware of the challenges we face. We have set a goal to be profitable in 2024 by growing our SECaas revenues and closely controlling our expenses. We have full faith in our company, our team, our products and in our ability to meet these goals, " concluded Antebi.
Q2 2022 Financial Results Summary
Total revenues for the second quarter of 2022 were $32.8 million, a decrease of 7% compared to $35.3 million in the second quarter of 2021.
Gross profit on a GAAP basis for the second quarter of 2022 was $22.5 million (gross margin of 68.7%), an 8% decline compared with $24.5 million (gross margin of 69.3%) in the second quarter of 2021.
Gross profit on a non-GAAP basis for the second quarter of 2022 was $23.0 million (gross margin of 70.2%), a 7% decline compared with $24.8 million (gross margin of 70.2%) in the second quarter of 2021.
Net loss on a GAAP basis for the second quarter of 2022 was $6.2 million, or $0.17 per basic share, compared with a net loss of $4.0 million, or $0.11 per basic share, in the second quarter of 2021.
Net loss on a non-GAAP for the second quarter of 2022 was $4.2 million, or $0.11 per basic share compared with a non-GAAP net loss of $1.5 million, or $0.04 per basic share, in the second quarter of 2021.
Cash and investments as of June 30,2022 totaled $108.0 million, compared to $85.7 million as of December 31, 2021.
Conference Call & Webcast:
The Allot management team will host a conference call to discuss its second quarter 2022 earnings results today, August 16, 2022 at 8:30 am ET, 3:30 pm Israel time. To access the conference call, please dial one of the following numbers:
US: 1-888-642-5032, UK: 0-800-917-5108, Israel: +972-3-918-0609
A live webcast and, following the end of the call, an archive of the conference call, will be accessible on the Allot website at: http://investors.allot.com/index.cfm
About Allot
Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot's multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1,000 enterprises. Our industry leading network-based security as a service solution is already used by over 20 million subscribers in Europe. Allot. See. Control. Secure.
For more information, visit www.allot.com
Performance Metrics
* Total ARR - Support & Maintenance ARR (measures the current annual run rate of support & maintenance revenues, which is calculated based on these expected revenues in the fourth quarter and multiplied by 4) and SECaaS ARR (measures the current annual run rate of the SECaaS revenues, which is calculated based on these expected revenues in the current month of December and multiplied by 12).
** MAR (maximum annual revenue potential of concluded transactions) was estimated by Allot upon transaction signature and constitutes an approximation of the theoretical annual revenues Allot would receive if 100% of the applicable customer segments only subscribers, as estimated by Allot, signed up for the service.
GAAP to Non-GAAP Reconciliation:
The difference between GAAP and non-GAAP revenues is related to the acquisitions made by the Company and represents revenues adjusted for the impact of the fair value adjustment to acquired deferred revenue related to purchase accounting. Non-GAAP net income is defined as GAAP net income after including deferred revenues related to the fair value adjustment resulting from purchase accounting and excluding stock-based compensation expenses, amortization of acquisition-related intangible assets, deferred tax asset adjustment and changes in taxes related items.
These non-GAAP measures should be considered in addition to, and not as a substitute for, comparable GAAP measures. The non-GAAP results and a full reconciliation between GAAP and non-GAAP results is provided in the accompanying Table 2. The Company provides these non-GAAP financial measures because it believes they present a better measure of the Company's core business and management uses the non-GAAP measures internally to evaluate the Company's ongoing performance. Accordingly, the Company believes they are useful to investors in enhancing an understanding of the Company's operating performance.
Safe Harbor Statement
This release contains forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements set forth in such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors, government regulation; the timing of completion of key project milestones which impact the timing of our revenue recognition; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on fourth party channel partners for a material portion of our revenues; court approval of the Company's proposed share buy-back program; and other factors discussed under the heading "Risk Factors" in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. 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.
SOURCE Allot Ltd. | https://www.whsv.com/prnewswire/2022/08/16/allot-announces-second-quarter-2022-financial-results/ | 2022-08-16T10:05:02Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Amazon.com, Inc. (NASDAQ: AMZN) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of all persons or entities that purchased or otherwise acquired shares of Amazon common stock between July 30, 2021, and April 28, 2022, inclusive.
Lead Plaintiff Deadline: September 6, 2022
No obligation or cost to you.
Learn more about your recoverable losses in AMZN:
https://www.kleinstocklaw.com/pslra-1/amazon-com-inc-loss-submission-form-2?id=30842&from=4
Amazon.com, Inc. NEWS - AMZN NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Amazon.com, Inc. made materially false and/or misleading statements and/or failed to disclose that: 1) defendants knew or recklessly disregarded that the Company's infrastructure and fulfillment network investments substantially outpaced demand; 2) those investments were a massive, self-imposed, undue drain on Amazon's financial condition; 3) contrary to defendants' public statements and undisclosed to investors, defendants had already implemented cutbacks to Amazon's fulfillment capacity by July 2021; and 4) as a result of defendants' misrepresentations and omissions, Amazon's common stock traded at artificially inflated prices during the class period.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Amazon you have until September 6, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Amazon securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the AMZN lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/amazon-com-inc-loss-submission-form-2?id=30842&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/amzn-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-6-2022-class-action-filed-behalf-amazoncom-inc-shareholders/ | 2022-08-16T10:05:08Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Carvana Co. (NYSE: CVNA) alleging that the Company violated federal securities laws.
Class Period: May 6, 2020 to June 24, 2022
Lead Plaintiff Deadline: October 3, 2022
No obligation or cost to you.
Learn more about your recoverable losses in CVNA:
https://www.kleinstocklaw.com/pslra-1/carvana-lawsuit-loss-submission-form?id=30850&from=4
Carvana Co. NEWS - CVNA NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Carvana Co. made materially false and/or misleading statements and/or failed to disclose that: (1) Carvana faced serious, ongoing issues with documentation, registration, and title with many of its vehicles; (2) as a result, Carvana was issuing unusually frequent temporary plates; (3) as a result of the foregoing, Carvana was violating laws and regulations in many existing markets; (4) as a result of the foregoing, Carvana risked its ability to continue business and/or expand its business in existing markets; (5) as a result of the foregoing, Carvana was at an increased risk of governmental investigation and action; (6) Carvana was in discussion with state and local authorities regarding the above-stated business tactics and issues; (7) Carvana was facing imminent and ongoing regulatory actions including license suspensions, business cessation, and probation in several states and counties including in Arizona, Illinois, Pennsylvania, Michigan, and North Carolina; and (8) as a result, Defendants' statements about Carvana's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Carvana you have until October 3, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Carvana securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the CVNA lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/carvana-lawsuit-loss-submission-form?id=30850&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/cvna-alert-klein-law-firm-announces-lead-plaintiff-deadline-october-3-2022-class-action-filed-behalf-carvana-co-shareholders/ | 2022-08-16T10:05:14Z |
Backlog of orders at $14.1 billion; Revenues of $1.3 billion;
Non-GAAP net income of $77 million;
GAAP net income of $81 million;
Non-GAAP net EPS of $1.73; GAAP net EPS of $1.82
HAIFA, Israel, Aug. 16, 2022 /PRNewswire/ -- Elbit Systems Ltd. ("Elbit Systems" or the "Company") (NASDAQ: ESLT) (TASE: ESLT), the international high technology company, reported today its consolidated results for the quarter ended June 30, 2022.
In this release, the Company is providing US-GAAP results as well as additional non-GAAP financial data, which are intended to provide investors a more comprehensive view of the Company's business results and trends. For a description of the Company's non-GAAP definitions see below, "Non-GAAP financial data". Unless otherwise stated, all financial data presented is US-GAAP financial data.
Management Comment:
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, commented, "Order backlog growth in the second quarter reflects the continued demand for Elbit Systems' portfolio of leading technological capabilities from customers around the world and supports our future growth prospects.
We continue to make investments in our portfolio that are well aligned with the priority areas of our customers. I believe the trend in global defense budgets combined with an improved operational initiative should support Elbit Systems' long term success."
Second quarter 2022 results:
Revenues in the second quarter of 2022 were $1,303.4 million, as compared to $1,302.4 million in the second quarter of 2021.
Non-GAAP(*) gross profit amounted to $345.9 million (26.5% of revenues) in the second quarter of 2022, as compared to $346.6 million (26.6% of revenues) in the second quarter of 2021. GAAP gross profit in the second quarter of 2022 was $339.7 million (26.1% of revenues), as compared to $339.2 million (26.0% of revenues) in the second quarter of 2021.
Research and development expenses, net were 96.4 million (7.4% of revenues) in the second quarter of 2022, as compared to 95.4 million (7.3% of revenues) in the second quarter of 2021.
Marketing and selling expenses, net were $82.8 million (6.4% of revenues) in the second quarter of 2022, as compared to $75.4 million (5.8% of revenues) in the second quarter of 2021.
General and administrative expenses, net were $72.7 million (5.6% of revenues) in the second quarter of 2022, as compared to $65.9 million (5.1% of revenues) in the second quarter of 2021.
Other operating income, net was $27.2 million in the second quarter of 2022, as compared to other operating income of $14.7 million in the second quarter of 2021. Other operating income in 2022 was a result of capital gains from sale of our shares in a subsidiary and sale of a building in Israel.
Non-GAAP(*) operating income was $103.3 million (7.9% of revenues) in the second quarter of 2022, as compared to $114.9 million (8.8% of revenues) in the second quarter of 2021. GAAP operating income in the second quarter of 2022 was $115.1 million (8.8% of revenues), as compared to $117.1 million (9.0% of revenues) in the second quarter of 2021.
Financial expenses, net were $9.3 million in the second quarter of 2022, as compared to $7.1 million in the second quarter of 2021.
Other expenses, net were $12.1 million in the second quarter of 2022, as compared to $1.4 million in the second quarter of 2021. Other expenses, net in the second quarter of 2022 includes an amount of $10.6 million related to an adjustment to other comprehensive loss of pension plans as a result of a sale of a subsidiary in Israel.
Taxes on income were $12.8 million in the second quarter of 2022, as compared to $20.1 million in the second quarter of 2021.
Equity in net losses of affiliated companies and partnerships were $0.1 million in the second quarter of 2022, as compared to net earnings of $13.5 million in the second quarter of 2021. The income in 2021 includes a gain of approximately $10.3 million related to the sale of our shares in an affiliated company.
Non-GAAP(*) net income attributable to the Company's shareholders in the second quarter of 2022 was $76.9 million (5.9% of revenues), as compared to $93.4 million (7.2% of revenues) in the second quarter of 2021. GAAP net income attributable to the Company's shareholders in the second quarter of 2022 was $81.2 million (6.2% of revenues), as compared to $101.7 million (7.8% of revenues) in the second quarter of 2021.
Non GAAP(*) diluted net earnings per share attributable to the Company's shareholders were $1.73 for the second quarter of 2022, as compared to $2.11 for the second quarter of 2021. GAAP diluted earnings per share attributable to the Company's shareholders in the second quarter of 2022 were $1.82, as compared to $2.30 in the second quarter of 2021.
The Company's backlog of orders as of June 30, 2022 totaled $14.1 billion. Approximately 74% of the current backlog is attributable to orders from outside Israel. Approximately 52% of the backlog is scheduled to be performed during the remainder of 2022 and 2023.
Cash flows used in operating activities in the six months ended June 30, 2022 were $133.5 million, as compared to cash flows provided by operating activities in the six months ended June 30, 2021 of $157.1 million. Cash flows in 2022 includes an amount of approximately $76 million of tax payment related to the Company's implementation of the amendment to the law of Encouragement of Capital Investments allowing payment of reduced corporate tax for the release of exempt earnings from "Approved Enterprises" and "Privileged Enterprises" in Israel, as reported in our 2021 annual report.
Impact of the Covid-19 Pandemic on the Company:
The Coronavirus disease 2019 (COVID-19) was declared a pandemic by the World Health Organization in March 2020. COVID-19 has had significant negative impacts on the worldwide economy, resulting in disruptions to supply chains and financial markets, significant travel restrictions, facility closures and shelter-in place orders in various locations. Such disruptions also led to global shortages of electronics and other components, increased costs and extended lead times. Elbit Systems is closely monitoring the evolution of the COVID-19 pandemic and its impacts on the Company's employees, customers and suppliers, as well as on the global economy.
As we last reported on May 24, 2022, we have been taking a number of actions to protect the safety of our employees as well as maintain business continuity and secure our supply chain. We also reported on a number of activities where we are leveraging our technological capabilities to assist hospital staffs and other first responders protecting our communities from the impact of the pandemic. All of these actions remain ongoing.
We have implemented a series of cost control measures to help limit the financial impact of the pandemic on the Company, in parallel to the measures we are taking to maintain business continuity and deliveries to our customers. We also are working on efficiency initiatives with a number of our suppliers. We continue to evaluate our operations on an ongoing basis in order to adapt to the evolving business environment.
During 2021 and the first half of 2022 our defense activities, which account for most of our business, were not materially impacted by the pandemic, although some of our businesses experienced certain disruptions due to government directed safety measures, travel restrictions and supply chain delays.
We believe that as of June 30, 2022, Elbit Systems had a healthy balance sheet, adequate levels of cash and access to credit facilities that provide liquidity when necessary. We have given high priority to cash management and adequate cash reserves to run the business.
The extent of the impact of COVID-19 on the Company's performance depends on future developments including the duration and spread of the pandemic, the measures adopted by governments to limit the spread of the pandemic, including implementation of vaccinations, and resulting actions that may be taken by our customers and our supply chain, all of which contain uncertainties. As noted in our annual report on Form 20-F for the year ended December 31, 2021, the preparation of financial reports requires us to make judgments, assumptions and estimates that affect the amounts reported. For our financial results for the quarter ended June 30, 2022, we considered the economic impact of the COVID-19 pandemic on our critical and significant accounting estimates. The expected impact of the COVID-19 pandemic did not have a material effect on our judgments, assumptions and estimates reflected in the results. However, our future results may differ materially from our estimates. As events continue to evolve in connection with the COVID-19 pandemic, the estimates we use in future periods may change materially.
Potential Impact of Increase in Company's Share Price on Employee Compensation Plan Costs:
From the beginning of the third quarter of 2022, the price of the Company's shares have increased significantly. If the share price remains at current levels, or further increases, there would be a significant increase in compensation expenses, related to the Company's stock price linked employee compensation plans.
* Non-GAAP financial data:
The following non-GAAP financial data is presented to enable investors to have additional information on the Company's business performance as well as a further basis for periodical comparisons and trends relating to the Company's financial results. The Company believes such data provides useful information to investors by facilitating more meaningful comparisons of the Company's financial results over time. Such non-GAAP information is used by the Company's management to make strategic decisions, forecast future results and evaluate the Company's current performance. However, investors are cautioned that, unlike financial measures prepared in accordance with GAAP, non-GAAP measures may not be comparable with the calculation of similar measures for other companies.
The non-GAAP financial data includes reconciliation adjustments regarding non-GAAP gross profit, operating income, net income and diluted EPS. In arriving at non-GAAP presentations, companies generally factor out items such as those that have a non-recurring impact on the income statements, various non-cash items including significant exchange rate differences, significant effects of retroactive tax legislation, changes in accounting guidance, financial transactions and other items not considered to be part of regular ongoing business, which, in management's judgment, are items that are considered to be outside of the review of core operating results.
In the Company's non-GAAP presentation, the Company made certain adjustments, as indicated in the table below.
These non-GAAP measures are not based on any comprehensive set of accounting rules or principles. The Company believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company's results of operations, as determined in accordance with GAAP, and that these measures should only be used to evaluate the Company's results of operations in conjunction with the corresponding GAAP measures. Investors should consider non-GAAP financial measures in addition to, and not as replacements for or superior to, measures of financial performance prepared in accordance with GAAP.
Recent Events:
On May 31, 2022, the Company announced that it was awarded a $69 million contract to supply Electronic Warfare (EW) capabilities to a country in Asia-Pacific. The contract will be delivered over a period of three years.
On June 2, 2022, the Company announced that S&P Global Ratings Maalot Ltd., an Israeli rating agency, issued its rating report regarding the Series B, C and D Notes, issued by the Company in 2021 (the "Notes") and reaffirmed the Notes' "ilAA" (on local scaling) rating with a stable outlook.
On June 27, 2022, the Company announced that it was awarded an approximately $70 million contract to supply an Electronic Warfare (EW) solution to an international customer. The contract will be executed over a period of two and a half years.
On June 29, 2022, the Company announced that it was awarded an approximately $220 million contract to supply precision guidance kits for airborne munitions to a country in Asia-Pacific. The contract will be performed over a period of 15 months.
On June 30, 2022, the Company announced, further to the Company's announcement of October 21, 2021, that it completed the sale of all ordinary shares held by its wholly-owned Israeli subsidiary, IMI Systems Ltd. ("IMI"), in IMI's 84.98%-owned subsidiary, Ashot Ashkelon Industries Ltd. (TASE: ASHO) ("Ashot") and all capital notes of Ashot held by IMI and Elbit Systems, to FIMI Opportunity Funds ("FIMI"), for approximately $84 million in cash (approximately NIS 291 million). The closing followed receipt of all the required regulatory approvals.
On June 30, 2022, the Company announced that it was awarded a contract valued at $548 million to supply military-wide multi-domain combat networked warfare capabilities to the Armed Forces of a country in Asia-Pacific. The contract will be performed over a four-year period.
On July 5, 2022, the Company announced that it was awarded a $80 million contract to supply Direct Infrared Counter Measures ("DIRCM") and airborne EW systems for a country in Asia-Pacific. The contract will be performed over a two-year period.
On July 13, 2022, the Company announced that it was awarded a contract valued at $660 million to provide intelligence systems for a country in Europe. The contract will be executed over a period of four years and includes an additional ten-year maintenance period.
On July 18, 2022, the Company announced that its subsidiary, Universal Avionics Systems Corporation was awarded a contract valued at approximately $33 million from AerSale Corporation (NASDAQ: ASLE), to supply Enhanced Flight Vision Systems (EFVS) for Boeing 737NG aircraft. The contract will be executed through 2023.
Dividend:
The Board of Directors declared a dividend of $ 0.5 per share for the second quarter of 2022. The dividend's record date is October 6, 2022. The dividend will be paid on October 24, 2022, after deduction of taxes at the source, at the rate of 16.8%.
Conference Call:
The Company will be hosting a conference call today, Tuesday, August 16, 2022, at 9:00 a.m. Eastern Time. On the call, management will review and discuss the results and will be available to answer questions.
To participate, please call one of the teleconferencing numbers that follow. If you are unable to connect using the toll-free numbers, please try the international dial-in number.
US Dial-in Number: 1-866-744-5399
Canada Dial-in Number: 1-866-485-2399
Israel Dial-in Number: 03-918-0644
INTERNATIONAL Dial-in Number: 972-3-918-0644
at 9:00am Eastern Time; 6:00am Pacific Time; 4:00pm Israel Time
The conference call will also be broadcast live on Elbit Systems' website at https://www.elbitsystems.com. An online replay will be available from 24 hours after the call ends.
Alternatively, for two days following the call, investors will be able to dial a replay number to listen to the call. The dial-in numbers are: 1-888-782-4291 (US and Canada) or +972-3-925-5900 (Israel and International).
About Elbit Systems
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.
For additional information, visit: https://elbitsystems.com/, follow us on Twitter or visit our official Facebook, Youtube and LinkedIn Channels.
Attachments:
Consolidated balance sheets
Consolidated statements of income
Consolidated statements of cash flow
Consolidated revenue distribution by areas of operation and by geographical regions
Company Contacts:
Joseph Gaspar, Senior Executive VP – Business
Management
Tel: +972-77-2948661
j.gaspar@elbitsystems.com
Dr. Yaacov (Kobi) Kagan, Executive VP - CFO
Tel: +972-77-2946663
kobi.kagan@elbitsystems.com
Rami Myerson, Director, Investor Relations
Tel: +972-77-2948984
rami.myerson@elbitsystems.com
David Vaaknin, VP, Head of Corporate Communications
Tel: +972-77-2946691
david.vaaknin@elbitsystems.com
IR Contact:
Ehud Helft
EK Global Investor Relations
Tel: 1-212-378-8040
elbitsystems@egkir.com
This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release.
Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.
Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.
(FINANCIAL TABLES TO FOLLOW)
View original content:
SOURCE Elbit Systems Ltd. | https://www.whsv.com/prnewswire/2022/08/16/elbit-systems-reports-second-quarter-2022-results/ | 2022-08-16T10:05:20Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Enochian BioSciences, Inc. (NASDAQ: ENOB) alleging that the Company violated federal securities laws.
Class Period: January 17, 2018 to June 27, 2022
Lead Plaintiff Deadline: September 26, 2022
No obligation or cost to you.
Learn more about your recoverable losses in ENOB:
https://www.kleinstocklaw.com/pslra-1/enochian-biosciences-inc-loss-submission-form?id=30848&from=4
Enochian BioSciences, Inc. NEWS - ENOB NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Enochian BioSciences, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's co-founder and inventor Serhat Gumrukcu was engaged in a variety of frauds; (2) Gumrukcu was not a licensed doctor anywhere in the world; (4) as a result of the foregoing, Gumrukcu's purported contributions to the Company lacked a reasonable basis; (5) as a result of the foregoing, the Company had overstated its commercial prospects; (6) Gumrukcu had improperly diverted approximately $20 million from Enochian to entities he owned; and (7) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Enochian you have until September 26, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Enochian securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the ENOB lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/enochian-biosciences-inc-loss-submission-form?id=30848&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/enob-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-26-2022-class-action-filed-behalf-enochian-biosciences-inc-shareholders/ | 2022-08-16T10:05:27Z |
TEL AVIV, Israel, Aug. 16, 2022 /PRNewswire/ -- First International Bank of Israel (TASE: FIBI) one of Israel's major banking groups, today announced its results for the second quarter and first half of 2022, ended June 30, 2022.
Second Quarter Financial Highlights:
- Net income of NIS 342 million
- Return on Equity – 13.8%
- BoD approved dividend distribution of 50% of net income
- YoY growth of 24% in financing income from ongoing operations
- Cost/Income ratio continues to improve reaching 54.8%
Management Comment
Ms. Smadar Barber-Tsadik, CEO of the First International Bank Group, stated: "The profitability of the First International Bank in the second quarter of 2022 reflects growth that comes from increase in the ongoing operations of the Bank, in a variety of areas, with an emphasis on customer wealth management and credit growth, while maintaining the stability of the Bank and an adequate risk profile. This, together with the continuation of efficiency measures, which allows consistent and gradual improvement in the efficiency ratio. The first International Bank provides optimal service to customers by means of both, its wide branch network, which is twice as large as the Bank's proportionate share in the banking system, and by means of the Bank's advanced and innovative digital capabilities".
Growth
The growth trend is evident in all core areas of activities of the Bank:
Interest income grew in the second quarter of the year by 21% year over year, financing income from ongoing operations grew in the second quarter of the year by 24%, year over year. Commission income increased by 6% year over year, due to growth of the Bank activities.
Credit to the public grew by 18.3% in the past twelve months (as compared with the corresponding period last year) and by 11.4% since the beginning of the current year, amounting to NIS 113,932 million. Growth in credit is seen in all fields of operation: the large business segment grew in the past twelve months by 39%, the middle market business segment grew by 33.4%, the small business segment by 13.8%, credit to households grew by 6.6%, and housing related loans grew by 15%. Credit to the public grew in the second quarter of the year by 6.1%.
Deposits by the public grew by 6.8% in the second quarter of the year compared with the first quarter, amounting to NIS 164,539 million. Since the beginning of the year, deposits by the public grew by 7.2%.
Profitability
Net earning of the First International Bank Group in the second quarter of 2022 amounted to NIS 342 million, as compared to earnings of NIS 322 million in the first quarter of the year, and earnings of NIS 404 million in the corresponding quarter last year, in which the Bank recorded exceptional credit loss income, on background of the exit from the Corona crisis. Return on equity reached 13.8%. In the first half of the year, net earnings amounted to NIS 664 million, as compared to NIS 708 million in the corresponding first half of last year, with return on equity reaching 13.3%.
Credit loss expenses amounted in the second quarter of the year to NIS 31 million, as compared to income of NIS 128 million in the corresponding quarter last year, representing growth of NIS 159 million. This growth stems ,mostly, from exceptional income that was recorded last year in respect of credit losses in the amount of NIS 114 million, representing the decline in the collective credit loss allowance, explained by improvement in the economic indicators upon exit from the Corona crisis. An increase in the collective allowance was recorded in the second quarter of the year following the growth in volume of performing credit.
The volume of problematic credit declined by approximately 21%, as compared to the corresponding period last year, and by 15% as compared to the end of 2021.
Efficiency
Cost/income ratio continues to improve reaching 54.8% in the second quarter of the year, as compared with 57.5% in the corresponding period last year. The Bank continues to implement efficiency measures, which include, inter alia, improvement and automation of work procedures, innovation in digital and the advanced use of data. All these allow consistent and gradual improvement in the cost/income ratio.
Operating and other expenses amounted in the second quarter of the year to NIS 662 million, a reduction of 3.2% as compared to the first quarter of 2022, and a rise of 1.5% as compared to the second quarter of last year. Maintenance and depreciation of building and equipment expenses decreased by 4.7% in the second quarter of the year in relation to the corresponding period last year, following efficiency measures employed with respect to the real estate assets of the Group.
Financial stability
Equity attributed to the shareholders of the Bank reached an amount of NIS 9,973 million. The Tier I equity capital ratio reached 10.15%, which is higher by 0.9% than the required regulatory ratio.
In accordance with the profit distribution policy adopted by the Board of Directors of the Bank, the Bank distributes a dividend at the rate of up to 50% of the annual net earnings. The Board of Directors of the Bank, approved today a dividend distribution of NIS 170 million, representing 50% of net earnings for the second quarter of 2022, this in addition to dividends of NIS 540 million distributed so far in the current year. The annual dividend yield as of July 31, 2022, amounted to 8.6%, the highest dividend yield in the banking system.
* Immaterial adjustment of comparative data.
** Restated.
*** Restated in respect of the new disclosure format on nonaccrual debts instead of impaired debts.
(1) Annualized.
(2) According to instructions of the Bank of Israel the Net stable funding ratio was calculated since 2021. Therefor no comparative data for the six months ended June 30, 2021 is stated.
(3) According to instructions of the Bank of Israel, beginning in 2022, the method for the conversion of return per period into annualized terms was changed, from exponential calculation to linear calculation. Comparative data have been restated.
* Immaterial adjustment of comparative data.
* Immaterial adjustment of comparative data.
(1) Mostly reflects adjustments in respect of actuarial assessments as of the end of the period regarding defined benefits pension plans, of amounts recorded in the past in other comprehensive income.
* Immaterial adjustment of comparative data.
(1) Of which: provision for credit losses in respect of off-balance sheet credit instruments in the amount of NIS 109 million and NIS 79 million and NIS 79 million at 30.6.22, 30.6.21 and 31.12.21, respectively.
(2) Of which: other assets measured at fair value in the amount of NIS 283 million and NIS 353 million and NIS 333 million at 30.6.22, 30.6.21 and 31.12.21, respectively.
(3) Of which: other liabilities measured at fair value in the amount of NIS 337 million and NIS 382 million and NIS 641 million at 30.6.22, 30.6.21 and 31.12.21, respectively.
* Cumulative effect of the initial implementation of US accounting principles in the matter of financial instruments – credit losses (ASC-326).
** Immaterial adjustment of comparative data.
(1) Including share premium of NIS 313 million (as from 1992 onwards).
(2) Including an amount of NIS 2,391 million which cannot be distributed as dividend.
Contact:
Dafna Zucker
First International Bank of Israel
e-mail: zucker.d@fibi.co.il
Tel: +972-3-519-6224
Ehud Helft
GK Investor & Public Relations
e-mail: fibi@gkir.com
Tel: +1-646-201-924
View original content:
SOURCE First International Bank of Israel | https://www.whsv.com/prnewswire/2022/08/16/first-international-bank-israel-reports-second-quarter-2022-results/ | 2022-08-16T10:05:33Z |
Expansion will bring internet speeds up to 2 Gbps to a growing list of communities in Pennsylvania
EDINBURG, Va., Aug. 16, 2022 /PRNewswire/ -- Glo Fiber, powered by Shenandoah Telecommunications Company ("Shentel") (Nasdaq: SHEN), announced they have reached agreements with municipal officials to deploy next generation fiber-to-the-home (FTTH) broadband services to several areas in York County, Pennsylvania including:
- York Township
- Dallastown Borough
- Red Lion Borough
- Yoe Borough
- Windsor Borough
- Windsor Township
- Spring Garden Township
Construction began in York Township this month and will continue into 2023 in the remaining boroughs and townships, bringing a future-proof fiber network to over 24,000 homes and businesses throughout the County. To check the status of their neighborhood and receive updates, interested residents and businesses can pre-register at www.glofiber.com.
"The franchise agreement with Shentel will provide the residents of Windsor Township with an alternative broadband company. We look forward to our continued partnership with Shentel," said Jennifer Gunnet, Windsor Township Manager.
Glo Fiber provides unlimited multi-gigabit internet access with symmetrical upload and download speeds, streaming TV, and phone services in the Mid-Atlantic region. Using Shentel's 7,900-mile regional fiber network, Glo Fiber can ensure high speeds, low latency, and fair pricing. The company has earned a reputation for providing superior local customer service across its markets, including the growing list of communities in Pennsylvania, Virginia, Maryland, West Virginia, and Delaware.
"We have a long, successful history of offering fiber service to large businesses in York County," said Chris Kyle, Vice President of Industry and Regulatory Affairs at Shentel. "It is exciting to continue this work by bringing Glo Fiber to thousands of county residents and businesses. Our network is capable of multi-gig service that will provide the speeds citizens need on a daily basis as well as offering a much-needed competitive choice."
Glo Fiber will offer symmetrical, high-speed internet access, streaming TV, and unlimited local and long-distance phone service to the area. Glo TV service is delivered via an app and is compatible with Apple TV, Amazon's Fire Stick, and many smart TVs with embedded streaming software. Optional Wall-to-Wall WiFi is available, allowing customers to connect anywhere in their home or business. There are no contracts, and pricing is straightforward with affordable options for individuals and families relying on the internet for work, school, and play.
To learn more about Glo Fiber, please visit www.glofiber.com or 1-800-IWANTGLO. For more information about Shentel, please visit www.shentel.com or call 1-800-SHENTEL (1-800-743-6835).
Glo Fiber (Glo) provides next-generation fiber-to-the-home (FTTH) multi-gigabit broadband internet access, live streaming TV, and digital home phone service powered by Shentel (Nasdaq: SHEN). Glo provides the fastest available service to residents leveraging XGS-PON, a state-of-the-art technology capable of symmetrical internet speeds up to 10 Gbps.
Shenandoah Telecommunications Company (Shentel) provides broadband services through its high speed, state-of-the-art cable, fiber-optic and fixed wireless networks to customers in the Mid-Atlantic United States. The Company's services include: broadband internet, video, and voice; fiber-optic Ethernet, wavelength and leasing; and tower colocation leasing. The Company owns an extensive regional network with over 7,900 route miles of fiber and over 220 macro cellular towers. For more information, please visit www.shentel.com.
View original content to download multimedia:
SOURCE Shenandoah Telecommunications Company | https://www.whsv.com/prnewswire/2022/08/16/glo-fiber-announces-plans-expand-its-high-speed-fiber-optic-network-into-york-county-pa/ | 2022-08-16T10:05:39Z |
Case Management Software Company GrowPath Will Be at CAALA Las Vegas to Demonstrate Marketing Analytics Features
DURHAM, N.C., Aug. 16, 2022 /PRNewswire/ -- Intake and case management software firm GrowPath will be attending the Consumer Attorneys Association of Los Angeles (CAALA) event September 1-4 in Las Vegas, NV.
This gathering will provide law firm managers in attendance the opportunity to find out how to determine their marketing efficacy, by delivering marketing transparency and calculating their return on investment (ROI) across all channels using GrowPath features made available as a stand-alone Marketing ROI Dashboard. This offering is part of its Office Optimizer solution, and is available to all firms regardless of what Case Management solution they.
CAALA Las Vegas is an opportunity for lawyers and law firm managers to network, learn, and improve their firms' services to clients. GrowPath has a number of patented features that can help firms in this area, including its Lead Scoring tool to help firms value cases in real time as intake calls happen.
"GrowPath was designed to help attorneys and law firms market themselves effectively and efficiently, so CAALA Las Vegas is really the perfect place to showcase what our software can do," said GrowPath CEO Neal Goffman. "Our lead generation and management tools help personal injury law firms sign more cases and faster."
GrowPath also features lead scoring and intake performance management that allows law firm managers to get immediate feedback on case quality and generate reports on case projection and settlement amounts. This makes it easier to calculate a firm's marketing ROI.
"Understanding marketing ROI is key to the success of a law firm," said Eric Sanchez, GrowPath founder, and advisor. "That's why we've made lead generation and management a key part of this platform. It's designed by lawyers, for lawyers."
To learn more about Growpath's software offerings, attendees can stop by booth #210 and see how GrowPath's all-in-one case management software delivers marketing analytics. Schedule a demo today.
GrowPath is a cutting-edge legal case management software delivering industry-leading solutions for personal injury law firms. By partnering with GrowPath, in addition to the benefits of using a market leading platform, firms get access to some of the best and most creative minds in the industry. From the individuals leading our company to those working closely every day with our clients, we have years of real-world expertise building successful plaintiffs' firms. GrowPath is empowering firms to boost revenue by improving the efficiency of the services they deliver. To learn more, visit GrowPath.com.
Connie Wong
cwong@growpath.com
View original content to download multimedia:
SOURCE GrowPath | https://www.whsv.com/prnewswire/2022/08/16/growpath-launches-pre-built-marketing-roi-dashboard/ | 2022-08-16T10:05:46Z |
Leading providers demonstrate innovative M&C offerings, robust portfolios, and market reach
BOULDER, Colo., Aug. 16, 2022 /PRNewswire/ -- A new report from Guidehouse Insights identifies the top monitoring and control (M&C) vendors in the industry for solar and storage. These M&C solution providers represent diverse vendors across a competitive and continually innovating landscape.
As solar and storage system deployments continue to increase globally, asset owners and customers are demanding more flexibility and efficiency from their systems. M&C vendors are well-placed in the solar and storage industry to provide offerings that allow for detailed asset management. According to a Leaderboard report from Guidehouse Insights, AlsoEnergy, GreenPowerMonitor, and PowerFactors are the leading solar and storage M&C vendors.
"Many M&C vendors have surfaced as industry leaders in this market. These include diverse companies that offer a range of products and services for M&C applications," says Maria Chavez, research analyst with Guidehouse Insights. "As the demand for flexible and efficient solar and storage systems rises, these solutions providers are tasked with maintaining adaptable and innovative features for their clients."
According to Guidehouse Insights, by 2031, solar and storage M&C revenues are expected to reach approximately $3 billion, which is especially critical given the high upfront costs of solar PV and storage systems. M&C capabilities allow for optimized use of an asset using real-time data and as a result, they facilitate cost-effective management. Leaders demonstrate innovative M&C offerings, robust portfolios, and market reach, according to the report.
The report, Guidehouse Insights Leaderboard: Solar and Storage Monitoring and Control Vendors, outlines key trends and industry players currently active in the M&C space. Competitors were scored on Strategy and Execution and their offerings reviewed. Although many other players have shown excellent offerings in the M&C space, AlsoEnergy, Power Factors (Inaccess), and GreenPowerMonitor stood out as Leaders. Other vendors, such as meteocontrol, Trimark Associates, and SMA Solar Technology, are also highlighted. As M&C can be a rapidly evolving set of technologies, more advancements—especially in AI and machine learning—will take place in coming years. Because of rapid innovation in this market, Guidehouse Insights will keep a close eye on the competitive landscape and its evolution. An executive summary of the report is available for free download on the Guidehouse Insights website.
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today's rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has more than 13,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit www.guidehouse.com.
* The information contained in this press release concerning the report, Guidehouse Insights Leaderboard: Solar and Storage Monitoring and Control Vendors, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Cecile Fradkin
+1.646.941.9139
cfradkin@scprgroup.com
View original content to download multimedia:
SOURCE Guidehouse Insights | https://www.whsv.com/prnewswire/2022/08/16/guidehouse-insights-names-alsoenergy-greenpowermonitor-powerfactors-leading-solar-storage-monitoring-control-vendors/ | 2022-08-16T10:05:52Z |
GUANGZHOU, China, Aug. 16, 2022 /PRNewswire/ -- HUYA Inc. ("Huya" or the "Company") (NYSE: HUYA), a leading game live streaming platform in China, today announced its unaudited financial results for the second quarter ended June 30, 2022.
Second Quarter 2022 Highlights
- Total net revenues for the second quarter of 2022 were RMB2,275.2 million (US$339.7 million), compared with RMB2,962.4 million for the same period of 2021.
- Net loss attributable to HUYA Inc. was RMB19.4 million (US$2.9 million) for the second quarter of 2022, compared with net income attributable to HUYA Inc. of RMB186.3 million for the same period of 2021.
- Non-GAAP net income attributable to HUYA Inc.[1] was RMB5.9 million (US$0.9 million) for the second quarter of 2022, compared with RMB250.1 million for the same period of 2021.
- Average mobile MAUs[2] of Huya Live for the second quarter of 2022 increased by 7.7% to 83.6 million from 77.6 million for the same period of 2021.
- Total number of paying users[3] of Huya Live for the second quarter of 2022 was 5.6 million, compared with 5.6 million for the same period of 2021.
"Our steady focus on content enrichment and product upgrades continues to drive value for our users and pave the way for our sustainable, long-term growth. For the second quarter of 2022, Huya Live's mobile MAUs maintained solid momentum, growing 7.7% year-over-year to 83.6 million," said Mr. Rongjie Dong, Chief Executive Officer of Huya. "While the turbulence in the macro and regulatory environment has decelerated our monetization in the short term, we remain confident in the broad-based strength of our solid business foundation that underpins our ability to satisfy our users' core needs. As a leader in the game live streaming market in China, we are constantly iterating our technology and products to provide high-quality, compliant content for our users and amplify our value proposition with our stakeholders across the game industry value chain."
Ms. Ashley Xin Wu, Vice President of Finance of Huya, commented, "Against the backdrop of macro headwinds, our revenues were approximately RMB2.3 billion for the second quarter of 2022, and our gross profit came in at RMB219.1 million as we continued our strategic efforts in ramping up investment in new and relevant content. We believe we are well-positioned to drive continued momentum in our user community expansion. Despite external uncertainties, we remain diligent in improving our operational efficiency and optimizing our business expenses in a nimble way, delivering 17.0% quarter-over-quarter and 21.6% year-over-year deductions in total operating expenses. Going forward, we aim to further strengthen our monetization capabilities, improve our cost and expense structure, and solidify our business fundamentals to achieve sustainable business development over the long term."
Second Quarter 2022 Financial Results
Total net revenues for the second quarter of 2022 were RMB2,275.2 million (US$339.7 million), compared with RMB2,962.4 million for the same period of 2021.
Live streaming revenues were RMB2,051.9 million (US$306.3 million) for the second quarter of 2022, compared with RMB2,579.2 million for the same period of 2021, primarily due to decreased average spending per paying user on Huya Live, as the recent macro and regulatory environment adversely affected the sentiment of the Company's paying users.
Advertising and other revenues were RMB223.3 million (US$33.3 million) for the second quarter of 2022, compared with RMB383.2 million for the same period of 2021, primarily due to the decrease in content sub-licensing revenues, as well as soft demand for advertising services resulting from the challenging macro environment.
Cost of revenues decreased by 13.6% to RMB2,056.1 million (US$307.0 million) for the second quarter of 2022 from RMB2,381.1 million for the same period of 2021, primarily due to decreased revenue sharing fees and content costs, as well as bandwidth costs.
Revenue sharing fees and content costs decreased by 13.3% to RMB1,767.8 million (US$263.9 million) for the second quarter of 2022 from RMB2,039.2 million for the same period of 2021, primarily due to the decrease in revenue sharing fees associated with declined live streaming revenues.
Bandwidth costs decreased by 9.9% to RMB154.4 million (US$23.0 million) for the second quarter of 2022 from RMB171.4 million for the same period of 2021, primarily due to improved bandwidth cost management and continued technology enhancement efforts.
Gross profit was RMB219.1 million (US$32.7 million) for the second quarter of 2022, compared with RMB581.3 million for the same period of 2021, primarily due to lower revenues. Gross margin was 9.6% for the second quarter of 2022, compared with 19.6% for the same period of 2021.
Research and development expenses decreased by 19.0% to RMB168.4 million (US$25.1 million) for the second quarter of 2022 from RMB207.9 million for the same period of 2021, primarily due to the decrease in share-based compensation expenses.
Sales and marketing expenses decreased by 40.0% to RMB100.3 million (US$15.0 million) for the second quarter of 2022 from RMB167.0 million for the same period of 2021, primarily due to decreased marketing and promotion fees as well as personnel-related expenses.
General and administrative expenses increased by 13.5% to RMB81.8 million (US$12.2 million) for the second quarter of 2022 from RMB72.1 million for the same period of 2021, primarily due to the increase in professional service fees and personnel-related expenses.
Other income was RMB50.3 million (US$7.5 million) for the second quarter of 2022, compared with RMB47.6 million for the same period of 2021.
Operating loss was RMB81.1 million (US$12.1 million) for the second quarter of 2022, compared with operating income of RMB181.9 million for the same period of 2021.
Interest and short-term investments income were RMB65.6 million (US$9.8 million) for the second quarter of 2022, compared with RMB57.7 million for the same period of 2021.
Income tax expenses were RMB1.3 million (US$0.2 million) for the second quarter of 2022, compared with RMB58.3 million for the same period of 2021, primarily due to the lower taxable income.
Net loss attributable to HUYA Inc. was RMB19.4 million (US$2.9 million) for the second quarter of 2022, compared with net income attributable to HUYA Inc. of RMB186.3 million for the same period of 2021.
Non-GAAP net income attributable to HUYA Inc., which excludes share-based compensation expenses, was RMB5.9 million (US$0.9 million) for the second quarter of 2022, compared with RMB250.1 million for the same period of 2021, which excludes share-based compensation expenses, gains on fair value change of investments and equity investees' investments, and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes.
Diluted net loss per American depositary share ("ADS") was RMB0.08 (US$0.01) for the second quarter of 2022, compared with diluted net income per ADS of RMB0.77 for the same period of 2021. Each ADS represents one Class A ordinary share of the Company.
Non-GAAP diluted net income per ADS was RMB0.02 (US$0.004) for the second quarter of 2022, compared with RMB1.04 for the same period of 2021.
As of June 30, 2022, the Company had cash and cash equivalents, short-term deposits and short-term investments of RMB10,716.7 million (US$1,600.0 million), compared with RMB10,473.4 million as of March 31, 2022.
Conference Call
The Company's management will host an earnings conference call at 7:00 a.m. U.S. Eastern Time on August 16, 2022 (7:00 p.m. Beijing/Hong Kong time on August 16, 2022).
For participants who wish to join the call, please complete online registration using the link provided below 20 minutes prior to the scheduled call start time. Upon registration, participants will receive the conference call access information, including dial-in numbers, a personal PIN and an e-mail with detailed instructions to join the conference call.
Participant Online Registration: https://register.vevent.com/register/BIa451f7eabc6c4462aa4aa81302702803
Once complete the registration, please dial-in at least 10 minutes before the scheduled start time of the earnings call and enter the personal PIN as instructed to connect to the call.
A live webcast of the earnings call will be accessible at https://ir.huya.com and a replay of the webcast will be available following the session.
About HUYA Inc.
HUYA Inc. is a leading game live streaming platform in China with a large and active game live streaming community. The Company cooperates with e-sports event organizers, as well as major game developers and publishers, and has developed e-sports live streaming as one of the most popular content genres on its platform. The Company has created an engaged, interactive and immersive community for game enthusiasts of China's young generation. Building on its success in game live streaming, Huya has also extended its content to other entertainment content genres. Huya's open platform also functions as a marketplace for broadcasters and talent agencies to congregate and closely collaborate with the Company.
Use of Non-GAAP Financial Measures
The unaudited condensed consolidated financial information is prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"), except that the consolidated statement of changes in shareholders' equity, consolidated statements of cash flows, and the detailed notes have not been presented. Huya uses non-GAAP gross profit, non-GAAP operating income (loss), non-GAAP net income (loss) attributable to HUYA Inc., non-GAAP net income (loss) attributable to ordinary shareholders, non-GAAP basic and diluted net income (loss) per ordinary shares, and non-GAAP basic and diluted net income (loss) per ADS, which are non-GAAP financial measures. Non-GAAP gross profit is gross profit excluding share-based compensation expenses allocated in cost of revenues. Non-GAAP operating income (loss) is operating income (loss) excluding share-based compensation expenses. Non-GAAP net income (loss) attributable to HUYA Inc. is net income (loss) attributable to HUYA Inc. excluding share-based compensation expenses, gains on fair value change of investments and equity investee's investments, and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes. Non-GAAP net income (loss) attributable to ordinary shareholders is net income (loss) attributable to ordinary shareholders excluding share-based compensation expenses, gains on fair value change of investments and equity investee's investments, and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes. Non-GAAP basic and diluted net income (loss) per ADS is non-GAAP net income (loss) attributable to ordinary shareholders divided by weighted average number of ADS used in the calculation of non-GAAP basic and diluted net income (loss) per ADS. The Company believes that separate analysis and exclusion of the impact of (i) share-based compensation expenses, and (ii) gains on fair value change of investments and equity investee's investments; and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes add clarity to the constituent parts of its performance. The Company reviews these non-GAAP financial measures together with GAAP financial measures to obtain a better understanding of its operating performance. It uses the non-GAAP financial measure for planning, forecasting and measuring results against the forecast. The Company believes that non-GAAP financial measure is useful supplemental information for investors and analysts to assess its operating performance without the effect of (i) share-based compensation expenses, which have been and will continue to be significant recurring expenses in its business, and (ii) gains on fair value change of investments and equity investee's investments; and gain arising from partial disposal of an investment owned by an equity investee, net of income taxes, which may recur when there is observable price change in the future. However, the use of non-GAAP financial measures has material limitations as an analytical tool. One of the limitations of using non-GAAP financial measures is that they do not include all items that impact the Company's net income for the period. In addition, because non-GAAP financial measures are not measured in the same manner by all companies, they may not be comparable to other similar titled measures used by other companies. In light of the foregoing limitations, you should not consider non-GAAP financial measure in isolation from or as an alternative to the financial measure prepared in accordance with U.S. GAAP.
The presentation of these non-GAAP financial measures is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the table captioned "HUYA Inc. Reconciliations of GAAP and Non-GAAP Results" at the end of this announcement.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.6981 to US$1.00, the noon buying rate in effect on June 30, 2022, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred to in this announcement could have been or could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Huya's strategic and operational plans, contain forward-looking statements. Huya may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Huya's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Huya's goals and strategies; Huya's future business development, results of operations and financial condition; the expected growth of the game live streaming market; the expectation regarding the rate at which to gain active users, especially paying users; Huya's ability to monetize the user base; Huya's efforts in complying with applicable data privacy and security regulations; fluctuations in general economic and business conditions in China; the impact of the COVID-19 to Huya's business operations and the economy in China and elsewhere generally; any regulatory developments in laws, regulations, rules, policies or guidelines applicable to Huya; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Huya's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Huya does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
HUYA Inc.
Investor Relations
Tel: +86-20-2290-7829
E-mail: ir@huya.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
E-mail: huya@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: huya@tpg-ir.com
View original content:
SOURCE HUYA Inc. | https://www.whsv.com/prnewswire/2022/08/16/huya-inc-reports-second-quarter-2022-unaudited-financial-results/ | 2022-08-16T10:05:59Z |
STOCKHOLM, Aug. 16, 2022 /PRNewswire/ -- InDex Pharmaceuticals Holding AB (publ) today announced that the company has received positive feedback from the Japanese regulatory authority, the Pharmaceuticals and Medical Devices Agency (PMDA), regarding the clinical development plan for a future marketing authorization application for the company's TLR9 agonist cobitolimod, for the treatment of moderate to severe left-sided ulcerative colitis. The PMDA has accepted enrolment of Japanese ulcerative colitis patients in the second global phase III induction study, without performing specific Japanese studies prior to study start.
The phase III program for cobitolimod in moderate to severe left-sided ulcerative colitis consists of two sequential global induction studies and a year long maintenance study, with patients that have responded to cobitolimod as induction therapy. The first phase III study CONCLUDE is ongoing and results are expected during H2 2023. The purpose of the consultation meeting with the PMDA was to obtain input on cobitolimod's development plan for Japan, with the aim to include Japanese patients in the second induction study, which is planned to start upon a positive read-out of the first induction study. According to the PMDA feedback, no additional studies are required prior to including Japanese patients in the global phase III study. In addition, the PMDA stated overall acceptance for the non-clinical package as well as the study design of the phase III program. Pharmacokinetic data for cobitolimod in Japanese patients will have to be collected prior to applying for market approval, but can be conducted during the remaining phase III program.
"We are very pleased that the PMDA supports our development plan for cobitolimod in Japan, and that they agreed to include Japanese patients in the second phase III induction study with cobitolimod, without conducting specific studies in Japanese subjects," said Johan Giléus, acting CEO of InDex Pharmaceuticals. "This is a unique decision by PMDA, indicating great potential for cobitolimod and a need for new treatment options that can help more patients with moderate to severe ulcerative colitis return to a normal life. In addition, the positive feedback from PMDA is advantageous for discussions with potential candidates for strategic collaborations in Japan."
For more information:
Johan Giléus, acting CEO
Phone: +46 8 122 038 50
E-mail: johan.gileus@indexpharma.com
Publication
The information was submitted for publication through the agency of the contact person set out above at 10:30 CET on 16 August 2022.
About ulcerative colitis
Ulcerative colitis is a chronic disease caused by inflammation of the large intestine. Today approximately 2 million people in Europe and the US suffer from ulcerative colitis. The symptoms are characterised by blood- and mucus-mixed diarrhea, frequent stools, abdominal pain, fever, weight loss and anemia. Moreover, patients have a significantly elevated risk of developing colon cancer. Despite the currently available drugs, many patients with ulcerative colitis still suffer from severe symptoms.
About the CONCLUDE study
CONCLUDE is a global randomised, double-blind, placebo-controlled, clinical phase III study to evaluate cobitolimod as a novel treatment for patients with moderate to severe left-sided ulcerative colitis with an inadequate response or failure to tolerate conventional therapy, biological therapy or JAK inhibitors. The study has been designed in consultation with both the US and European regulatory authorities, the FDA and EMA respectively. The induction study will include approximately 440 patients, and the primary endpoint will be clinical remission at week 6, which is the same primary endpoint as used in the successful phase IIb study CONDUCT. Apart from the dosing 250 mg given at baseline and week 3, which was the highest dose and the one that showed the best efficacy in the phase IIb study, the phase III study also evaluates a higher dose, 500 mg, in an adaptive study design.
Upon a positive read-out of the first induction study, InDex plans to initiate a second induction study with the best dose. Patients responding to cobitolimod in the induction studies will be eligible to continue in a one-year maintenance study, where they will be treated with either cobitolimod or placebo once every three weeks.
Cobitolimod in brief
Cobitolimod is a first-in-class Toll-like receptor 9 (TLR9) agonist that can provide an anti-inflammatory effect locally in the large intestine, which may induce mucosal healing and relief of the clinical symptoms in ulcerative colitis. Cobitolimod met the primary endpoint in the phase IIb study CONDUCT and demonstrated an outstanding combination of efficacy and safety. The results have been published in the reputable medical journal, The Lancet Gastroenterology & Hepatology. Data from four previous completed placebo-controlled clinical trials support the efficacy and safety demonstrated in the CONDUCT study.
InDex Pharmaceuticals in brief
InDex is a pharmaceutical development company focusing on immunological diseases where there is a high unmet medical need for new treatment options. The company's lead asset is the drug candidate cobitolimod, which is being evaluated in the phase III study CONCLUDE as a novel treatment of moderate to severe ulcerative colitis – a debilitating, chronic inflammation of the large intestine. InDex has also developed a platform of patent protected discovery stage substances, so called DNA based ImmunoModulatory Sequences (DIMS), with the potential to be used in the treatment of various immunological diseases.
InDex is based in Stockholm, Sweden. The company's shares (ticker INDEX) are traded on Nasdaq First North Growth Market Stockholm. Redeye AB is the company's Certified Adviser. For more information, please visit www.indexpharma.com.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
View original content:
SOURCE InDex Pharmaceuticals | https://www.whsv.com/prnewswire/2022/08/16/index-pharmaceuticals-announces-successful-interactions-with-pmda-clinical-development-cobitolimod-japan/ | 2022-08-16T10:06:06Z |
Two iQIYI-Presented Films also Featured in the "Chinese New Wave" Unit of the Offline BJIFF
BEIJING, Aug. 16, 2022 /PRNewswire/ -- iQIYI, an innovative market-leading online entertainment service in China, announced that from Aug. 10 to 23, the company is hosting the online screening of the 12th Beijing International Film Festival (BJIFF), a premier China-based film festival with prestigious global reputation, furthering the company's support for the development of the industry. In addition to being the Festival's Official Exclusive Online Screening Platform and Official Exclusive HD Online Video Platform for this year's BJIFF, iQIYI will also present two films at the "Chinese New Wave" unit at the offline BJIFF. Offering online and offline activities, iQIYI aims to help viewers further appreciate and celebrate the latest artistic advances that are taking place in China and on the world stage.
Rich slate of activities to celebrate films
iQIYI's online screening of the BJIFF features an exciting selection of 84 films to be presented in nine units, each curated to celebrate themes such as first-person narratives, films from Argentina (the guest of honour of this BJIFF), Internet films, and sports. The roll-out invites viewers to enjoy great cinema hits such as Cliff Walkers, 2046, and Nice View, as well as popular Internet films that are streamed exclusively on iQIYI, such as Defiant and Grassland Salilang.
Viewers can also enjoy critically acclaimed international productions from the online screening, such as Happy as Lazzaro, which won the award for the Best Screenplay at the 2018 Cannes Film Festival, and Father, which was selected as the Best Film at the Panorama section of the 70th Berlin International Film Festival.
Of note, all the films presented online adopt the HDR Vivid video standard propagated by the UHD World Association, ensuring an immersive viewing experience.
In addition to the high-quality films, the online portion of the BJIFF also allows users to deepen their understanding of the industry as viewers can also stream on iQIYI an exciting series of events organized as part of the Festival, such as the opening and closing ceremonies, talks by renowned filmmakers and high-level industry forums.
Breaking the boundary between online and offline entertainment
iQIYI further leverages this year's BJIFF with its online and offline entertainment. For instance, "Chinese New Wave," one of the offline BJIFF's nine units this year, features Let Life Be Beautiful and The Hidden Fox, two iQIYI-presented films.
As a token of gratitude for subscribers, iQIYI will do a giveaway to some VIP members tickets on several highly sought-after offline BJIFF screenings, in addition to inviting two VIP Member to attend the Festival's opening ceremony.
iQIYI is also proud to have two iQIYI-presented films, Off the Stage and Kong and Jigme, shortlisted in the Best Feature Film section, of this year's Tiantan Award, the official competition section of the BJIFF.
Reiterating commitment to driving industry development
On Aug. 14, GONG Yu, Founder and CEO of iQIYI, participated in the Film Power Forum of the BJIFF. At the forum themed "A New Journey Ahead: Unremitting Pursuit of Dreams on a Journey toward a Brilliant Film Future," Gong shared his insights into the rapid developments that have driven the development of China's film industry in the past decade.
"Films are themselves a cultural-driven product innovation. With technology experiencing constant iterations and leaps, the developments continue to enrich our imagination and strengthen our belief that the evolving progress is making the world a better place," said Gong.
Gong also noted the contribution iQIYI made in platform building and quality content production and highlighted the need to have more young people join the industry and to further drive industry growth and development in a sustainable and healthy manner using technology.
CONTACT: iQIYI Press, press@qiyi.com
View original content to download multimedia:
SOURCE iQIYI | https://www.whsv.com/prnewswire/2022/08/16/iqiyi-hosts-online-screening-12th-beijing-international-film-festival-furthering-support-industry-development/ | 2022-08-16T10:06:13Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Kiromic BioPharma, Inc. (NASDAQ: KRBP) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of a class consisting of persons and entities that purchased or otherwise acquired: (a) Kiromic common stock issued in connection with the Company's public offering that closed on July 2, 2021 and/or (b) Kiromic common stock between June 25, 2021 and August 13, 2021, both dates inclusive.
Lead Plaintiff Deadline: October 4, 2022
No obligation or cost to you.
Learn more about your recoverable losses in KRBP:
https://www.kleinstocklaw.com/pslra-1/kiromic-biopharma-inc-loss-submission-form?id=30851&from=4
Kiromic BioPharma, Inc. NEWS - KRBP NEWS
CLASS ACTION CASE DETAILS: The complaint alleges that the registration statement and prospectus issued in connection with the Company's public offering that closed on July 2, 2021 (the "Offering Documents") failed to disclose that the Food and Drug Administration ("FDA") had, prior to the filing of these documents, imposed a clinical hold on the Company's Investigational New Drug ("IND") applications for its two new drug candidates. Given that the offering closed on July 2, 2021, more than thirty (30) days after the Company submitted the IND applications for its two immunotherapy product candidates, investors were assured that no clinical hold had been issued and clinical trials would commence.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Kiromic you have until October 4, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Kiromic securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the KRBP lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/kiromic-biopharma-inc-loss-submission-form?id=30851&from=4.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/krbp-alert-klein-law-firm-announces-lead-plaintiff-deadline-october-4-2022-class-action-filed-behalf-kiromic-biopharma-inc-shareholders/ | 2022-08-16T10:06:21Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Missfresh Limited (NASDAQ: MF) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of persons who purchased or otherwise acquired Missfresh securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Missfresh's June 2021 initial public offering.
Lead Plaintiff Deadline: September 12, 2022
No obligation or cost to you.
Learn more about your recoverable losses in MF:
https://www.kleinstocklaw.com/pslra-1/missfresh-loss-submission-form?id=30844&from=4
Missfresh Limited NEWS - MF NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Missfresh Limited made materially false and/or misleading statements and/or failed to disclose that: (1) Missfresh provided false financial figures in its registration statement and related prospectus issued in connection with the Company's June 2021 initial public offering; (2) Missfresh would need to amend its financial figures; (3) Missfresh, among other things, had lesser net revenues for the quarter ended March 31, 2021; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times and negligently prepared.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Missfresh you have until September 12, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Missfresh securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the MF lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/missfresh-loss-submission-form?id=30844&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/mf-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-12-2022-class-action-filed-behalf-missfresh-limited-shareholders/ | 2022-08-16T10:06:27Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Molecular Partners AG (NASDAQ: MOLN) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of a class consisting of persons and entities that purchased or otherwise acquired: (a) Molecular Partners American Depositary Shares pursuant and/or traceable to certain documents issued in connection with the Company's initial public offering conducted on or about June 16, 2021; and/or (b) Molecular Partners securities between June 16, 2021, and April 26, 2022.
Lead Plaintiff Deadline: September 12, 2022
No obligation or cost to you.
Learn more about your recoverable losses in MOLN:
https://www.kleinstocklaw.com/pslra-1/class-action-molecular-partners-ag-loss-submission-form?id=30845&from=4
Molecular Partners AG NEWS - MOLN NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Molecular Partners AG made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's product, ensovibep, was less effective at treating COVID-19 than defendants had led investors to believe; that (ii) accordingly, the the U.S. Food and Drug Administration ("FDA") was reasonably likely to require an additional Phase 3 study of ensovibep before granting the drug Emergency Use Authorization ("EUA"); (iii) waning global rates of COVID-19 significantly reduced the Company's chances of securing EUA for ensovibep; (iv) another of the Company's product candidates, MP0310, was less attractive to Molecular Partners' collaborator, Amgen, than defendants had led investors to believe; (v) accordingly, there was a significant likelihood that Amgen would return to global rights of MP0310 to Molecular Partners; (vi) as a result of all the foregoing, the clinical and commercial prospects of ensovibep and MP0310 were overstated; and (vii) as a result, documents issues in connection with the Company's initial public offer and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Molecular Partners you have until September 12, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Molecular Partners securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the MOLN lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/class-action-molecular-partners-ag-loss-submission-form?id=30845&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/moln-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-12-2022-class-action-filed-behalf-molecular-partners-ag-shareholders/ | 2022-08-16T10:06:34Z |
SINGAPORE, Aug. 16, 2022 /PRNewswire/ -- MoonXBT, the innovative crypto social trading platform, has reached a statistical milestone with its Android application in Google Play Store surpassing 100k downloads early in August. Before this, MoonXBT also passed the code audit of its website by leading blockchain security company Certik.
In the meantime, other numbers of MoonXBT are reaching new highs as well. The daily active users of MoonXBT has exceeded 6 thousand among which more than 2 thousand are daily active traders. The total daily trading volume of all users on average of MoonXBT has reached over 200 million USDT. The users of MoonXBT covers a wide range of countries and regions across the world with main end users coming from Southeastern Asia - mainly Vietnam, Indonesia, and Malaysia, Turkey, Latin America, and Russia.
According to the platform, reaching these numbers is no easy job in a market like this considering many crypto exchanges have undergone trading volume shrinks and even lay-offs.
MoonXBT attributes its growth in application downloads, users and trading volume to multidimensional factors among which four major ones are: the long tail effect of the MoonXBT copy trading function, the continuous innovation of the platform's trading products, the timely user favourable policy for spot market and the strong support from community partners in core markets.
As a social trading platform, one of MoonXBT's flagship functions is copy trading which allows normal traders to follow the professional traders' trading strategy and have their orders placed and executed automatically in sync with the traders they follow. This saves time and increases the win rate for normal and moreover rookie traders especially in the volatile market. For professional traders, they enjoy a 10% share of the profits made from their followers' orders. As more and more traders with insufficient trading experience follow the steps of traders of their liking, they come to MoonXBT and download its application so that they can copy trade the traders on the platform.
On top of the above, MoonXBT has demonstrated large innovation capacity with trading products as a young exchange. In just a little over a year's time span, MoonXBT has grown from a solely contract trading platform to one with all sorts of trading products including liquid contract, warrant options, spot market and OTC. Most recently, it launched the perpetual swap, a kind of derivative product which never expires. The continuous product innovation is also attracting new users with different risk preferences and trading needs and therefore has contributed to the numbers.
In addition, to cater to the demands of users and lesson the burgers of the traders, MoonXBT is also one of the first few exchanges to implement zero fee policy for multiple trading pairs and later stable trading pairs. The timely policy also helped the platform to win over the users and boosted the MoonXBT application downloads.
Besides all the listed, one of the core reasons for MoonXBT's milestone achievement is the strong support from the communities especially the working partners from core markets. The major market of MoonXBT now is Southeast Asia in which MoonXBT already has local teams in three countries including Vietnam, Indonesia and Malaysia. MoonXBT is even one of the top three crypto exchanges in Vietnam. The platform has partnerships with various communities and influencers in the region and is actively exploring more co-operations. The platform is also expanding partnerships in other parts of the world actively.
The Google Play downloads breakthrough along with other growing numbers shows how effective the local communities are in facilitating the platform's growth which in turn bring benefits to the supporting communities. It is also a good testament of MoonXBT's multidimensional development.
For more details, please visit www.moonxbt.com
Follow MoonXBT for more updates:
View original content to download multimedia:
SOURCE MoonXBT | https://www.whsv.com/prnewswire/2022/08/16/moonxbt-app-surpasses-100k-google-play-downloads-with-other-numbers-reaching-new-high/ | 2022-08-16T10:06:40Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Inotiv, Inc. (NASDAQ: NOTV) alleging that the Company violated federal securities laws.
Class Period: September 21, 2021 to June 13, 2022
Lead Plaintiff Deadline: August 22, 2022
No obligation or cost to you.
Learn more about your recoverable losses in NOTV:
https://www.kleinstocklaw.com/pslra-1/inotiv-notv-lawsuit-loss-submission-form?id=30839&from=4
Inotiv, Inc. NEWS - NOTV NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Inotiv, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Inotiv's acquisition, Envigo RMS, LL ("Envigo"), and Inotiv's Cumberland, Virginia facility (the "Cumberland Facility") engaged in widespread and flagrant violations of the Animal Welfare Act ("AWA"); (2) Envigo and Inotiv's Cumberland Facility continuously violated the AWA; (3) Envigo and Inotiv did not properly remedy issues with regards to animal welfare at the Cumberland Facility; (4) as a result, Inotiv was likely to face increased scrutiny and governmental action; (5) Inotiv would imminently shut down two facilities, including the Cumberland Facility; (6) Inotiv did not engage in proper due diligence; and (7) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Inotiv you have until August 22, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Inotiv securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the NOTV lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/inotiv-notv-lawsuit-loss-submission-form?id=30839&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/notv-alert-klein-law-firm-announces-lead-plaintiff-deadline-august-22-2022-class-action-filed-behalf-inotiv-inc-shareholders/ | 2022-08-16T10:06:46Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Outset Medical, Inc. (NASDAQ: OM) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of all persons or entities who purchased Outset Medical common stock between September 15, 2020, and June 13, 2022.
Lead Plaintiff Deadline: September 6, 2022
No obligation or cost to you.
Learn more about your recoverable losses in OM:
https://www.kleinstocklaw.com/pslra-1/loss-submission-form-outset-medical-class-action?id=30843&from=4
Outset Medical, Inc. NEWS - OM NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Outset Medical, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's flagship product, Tablo Hemodialysis System ("Tablo"), would require an additional 510(k) application to be filed with The United States Food and Drug Administration ("FDA"), as defendants had "continuously made improvements and updates to Tablo over time since its original clearance"; (2) as a result, the Company could not conduct a human factors study on a cleared device in accordance with FDA protocols; (3) the Company's inability to conduct the human factors study subjected the Company to the likelihood of the FDA imposing a "shipment hold" and marketing suspension, leaving the Company unable to sell Tablo for home use; and (4) as a result, defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and /or lacked a reasonable basis at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Outset Medical you have until September 6, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Outset Medical securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the OM lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/loss-submission-form-outset-medical-class-action?id=30843&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/om-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-6-2022-class-action-filed-behalf-outset-medical-inc-shareholders/ | 2022-08-16T10:06:53Z |
PRINCETON, N.J., Aug. 16, 2022 /PRNewswire/ -- Students in the United States preparing for higher education programs around the world can take advantage of one of two exclusive discounts on the TOEFL iBT® test for a limited time.
- Test takers who purchase a TOEFL iBT Paper Edition test from now until November 30, 2022, will receive a free voucher code for a second Paper Edition test to be redeemed by May 31, 2023. The free test can be used by the purchaser or shared with a friend or family member. This promotion is exclusively for the Paper Edition format which is available in more than a dozen cities across the United States. Learn more.
- Test takers who register for the GRE® General Test will receive $40 off a TOEFL iBT test registration now through September 30, 2022. The promotion applies to all TOEFL iBT formats (in a test center, TOEFL iBT Home Edition and TOEFL iBT Paper Edition) and GRE formats (in a test center, at home). Learn more.
ETS is the only assessment and learning organization that provides the most widely accepted admissions tests needed for graduate school — and the most highly-regarded combination. The TOEFL iBT test is the world's most respected and accepted English-language test, used by more than 11,500 institutions in over 160 countries as a measure of English-language proficiency. The GRE General Test is the world's most widely used admissions test for graduate and professional schools, including business and law programs.
"We're excited to offer these discounts to students across the U.S. who are gearing up for a busy application season," said Srikant Gopal, Executive Director of ETS's TOEFL Program. "While preparing for the next step on one's educational journey can be stressful, we're confident that this added benefit, alongside the acceptance and unique advantages of the TOEFL and GRE tests, will make the decision around which admissions tests to choose that much easier."
ETS offers a variety of free test prep resources for the TOEFL and GRE tests, such as practice tests, courses and more. Test takers interested in these materials are encouraged to visit the TOEFL and GRE websites.
At ETS, we advance quality and equity in education for people worldwide by creating assessments based on rigorous research. ETS serves individuals, educational institutions and government agencies by providing customized solutions for teacher certification, English-language learning, and elementary, secondary and postsecondary education, and by conducting education research, analysis and policy studies. Founded as a nonprofit in 1947, ETS develops, administers and scores more than 50 million tests annually — including the TOEFL® and TOEIC® tests, the GRE® tests and The Praxis Series® assessments — in more than 180 countries, at over 9,000 locations worldwide. www.ets.org
View original content to download multimedia:
SOURCE ETS | https://www.whsv.com/prnewswire/2022/08/16/save-big-toefl-ibt-test-with-these-limited-time-offers/ | 2022-08-16T10:07:02Z |
Findings from 2020-2021 school year buck national trend of sluggish math gains caused by pandemic-related disruptions to learning.
MOUNTAIN VIEW, Calif. and PORTLAND, Ore., Aug. 16, 2022 /PRNewswire/ -- A new study released today shows students who use MAP Accelerator, a personalized math tool jointly developed by Khan Academy and NWEA, achieve greater-than-projected gains in math. The initial findings suggest that the supplemental classroom tool may be an effective way to address unfinished learning from the pandemic, according to researchers.
The study was conducted in the height of the pandemic during the 2020-21 school year. The sample includes more than 180,000 students in third through eighth grades from 649 schools. Study results showed a number of benefits with 30 minutes of use:
- On average, test-score gains were 19% larger than projected.
- Scores increased across all grade levels.
- Scores increased across gender, race/ethnicity and poverty level.
"I think it's important to remember the enormous challenges students faced in the 2020-2021 school year," said Khan Academy founder Sal Khan. "Despite the circumstances, the students in this study who used MAP Accelerator as recommended made gains in math that are larger than projected, even for a pre-pandemic school year."
The study analyzed data from MAP Growth, a computer-adaptive assessment developed by NWEA, the not-for-profit research and educational services provider. MAP Growth is administered several times per year and taken by more than a quarter of U.S. students. MAP Growth scores are automatically imported into MAP Accelerator to generate a personalized, mastery-based learning plan for every student.
"Waverly Middle School adopted MAP Accelerator to respond to unfinished learning that had occurred due to the COVID-19-related school disruptions," said Elizabeth McIntosh, director of curriculum and instruction at Waverly Central School District in Waverly, New York. "The tool is a great way to support our kids in meeting them where they are instructionally. Our students find it highly engaging while helping them with core instruction, filling gaps, and putting them on a ramp to success."
The results of the study suggest a positive and significant relationship between using MAP Accelerator and score gains on the MAP Growth assessment.
A grade-level view shows student gains. The purple, horizontal lines below represent projected gains based on NWEA norms. The green bars depict gains for students who used MAP Accelerator for at least 30 minutes per week.
For example, fifth-grade students who used MAP Accelerator for 30 minutes per week grew an average 18% more than projected, gaining 1.7 points above pre-pandemic norms.
"The results of this study offer a lot of hope for addressing the impacts of this pandemic, which has disproportionately hit some of our most underserved populations," said NWEA CEO Chris Minnich. "It underscores the importance of increased opportunities for students to engage with targeted math content, and a tool like MAP Accelerator makes it possible for teachers to do that efficiently."
For an explanation of math RIT scores, please see Normative Data & RIT Scores.
For more detailed information on the research findings, please see the technical report.
A personalized learning tool for grades three through eight, MAP Accelerator reduces the manual work of differentiating math instruction by automatically integrating Clever class rosters, MAP Growth scores and Khan Academy content to generate learning pathways — complete with lessons, instructional videos and practice problems. Teachers can adjust individual student goals and learning pathways as students master new skills and concepts. District and school administrators can track usage and monitor the effectiveness of MAP Accelerator with easy-to-use reporting dashboards. MAP Accelerator is available in English and Spanish.
NWEA® (formerly known as Northwest Evaluation Association) is a mission-driven, not-for-profit organization that supports students and educators in more than 146 countries through research, assessment solutions, policy and advocacy services, professional learning and school improvement services that fight for equity, drive classroom impact and push for systemic change in our educational communities. Visit NWEA.org to learn more about how we're partnering with educators to help all kids learn. For media inquiries, please contact Simona Beattie, Sr. Manager, Public Relations, at simona.beattie@nwea.org or (971) 361-9526.
Khan Academy is a 501(c)(3) nonprofit organization with the mission of providing a free, world-class education for anyone, anywhere. Our platforms include more than 70,000 practice problems, videos, quizzes and articles that cover a range of preK-12 subjects, including math, science, humanities and Official SAT Practice. Khan Academy's mastery-based learning system allows students to learn key concepts at a pace that's right for them before moving on to more challenging content. Worldwide, more than 135 million registered learners have used Khan Academy in 190 countries and 51 languages. For more information, please submit a media inquiry at our press center or call (650) 429-8154.
View original content to download multimedia:
SOURCE NWEA | https://www.whsv.com/prnewswire/2022/08/16/students-who-use-math-tool-30-minutes-per-week-achieve-better-than-projected-math-gains/ | 2022-08-16T10:07:08Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of TG Therapeutics, Inc. (NASDAQ: TGTX) alleging that the Company violated federal securities laws.
Class Period: January 15, 2020 to May 31, 2022
Lead Plaintiff Deadline: September 16, 2022
No obligation or cost to you.
Learn more about your recoverable losses in TGTX:
https://www.kleinstocklaw.com/pslra-1/tg-therapeutics-loss-submission-form?id=30846&from=4
TG Therapeutics, Inc. NEWS - TGTX NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that TG Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) clinical trials revealed significant concerns related to the benefit-risk ratio and overall survival data of the Company's therapeutic product candidates, Ublituximab and Umbralisib; (ii) accordingly, it was unlikely that the Company would be able to obtain approval from the U.S. Food and Drug Administration of the Umbralisib marginal zone lymphoma and follicular lymphoma New Drug Application, the Biologics License Application for Ublituximab in combination with Umbralisib, the supplemental New Drug Application for Ublituximab in combination with Umbralisib, or the Ublituximab relapsing forms of multiple sclerosis Biologics License Application in their current forms; (iii) as a result, the Company had significantly overstated Ublituximab and Umbralisib's clinical and/or commercial prospects; and (iv) therefore, the Company's public statements were materially false and misleading at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in TG Therapeutics you have until September 16, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased TG Therapeutics securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the TGTX lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/tg-therapeutics-loss-submission-form?id=30846&from=4.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/tgtx-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-16-2022-class-action-filed-behalf-tg-therapeutics-inc-shareholders/ | 2022-08-16T10:07:14Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Unity Software Inc. (NYSE: U) alleging that the Company violated federal securities laws.
Class Period: March 5, 2021 to May 10, 2022
Lead Plaintiff Deadline: September 6, 2022
No obligation or cost to you.
Learn more about your recoverable losses in U:
https://www.kleinstocklaw.com/pslra-1/unity-software-class-action-loss-form?id=30841&from=4
CLASS ACTION CASE DETAILS: The filed complaint alleges that Unity Software Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) deficiencies in Unity's product platform reduced the accuracy of the Company's machine learning technology; (ii) the foregoing was likely to have a material negative impact on the Company's revenues; (iii) accordingly, Unity had overstated the Company's commercial and/or financial prospects for 2022; (iv) as a result, the Company was likely to have to reduce its fiscal 2022 guidance; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Unity you have until September 6, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Unity securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the U lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/unity-software-class-action-loss-form?id=30841&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/u-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-6-2022-class-action-filed-behalf-unity-software-inc-shareholders/ | 2022-08-16T10:07:21Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Weber Inc. (NYSE: WEBR) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Weber Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's August 2021 initial public offering.
Lead Plaintiff Deadline: September 27, 2022
No obligation or cost to you.
Learn more about your recoverable losses in WEBR:
https://www.kleinstocklaw.com/pslra-1/weber-inc-loss-submission-form?id=30849&from=4
Weber Inc. NEWS - WEBR NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Weber Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Weber was reasonably likely to implement price increases; (2) as a result, consumer demand for Weber's products was reasonably likely to decrease; (3) due to the resulting inventory buildup, Weber was reasonably likely to run promotions to "enhance retail sell through"; (4) the foregoing would adversely impact Weber's financial results; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Weber you have until September 27, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Weber securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the WEBR lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/weber-inc-loss-submission-form?id=30849&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/webr-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-27-2022-class-action-filed-behalf-weber-inc-shareholders/ | 2022-08-16T10:07:27Z |
BEIJING, Aug. 16, 2022 /PRNewswire/ -- Weibo Corporation (NASDAQ: WB and HKEX: 9898), a leading social media for people to create, share and discover content, will announce its unaudited financial results for the second quarter 2022 before the U.S. market opens on Thursday, September 1, 2022. Following the announcement, Weibo's management team will host a conference call from 7 AM – 8 AM Eastern Time on September 1, 2022 (or 7 PM – 8 PM Beijing Time on September 1, 2022) to present an overview of the Company's financial performance and business operations.
Participants who wish to dial in to the teleconference must register through the below public participant link. Dial in and instruction will be in the confirmation email upon registering.
Participants Registration Link: https://register.vevent.com/register/BIafafec22bbd342a7aa40d105c47d0e6b
This call will be webcast live and the replay will be available for 12 months. Both will be available through the Company's corporate website at http://ir.weibo.com.
About Weibo Corporation
Weibo is a leading social media for people to create, share and discover content online. Weibo combines the means of public self-expression in real time with a powerful platform for social interaction, content aggregation and content distribution. Any user can create and post a feed and attach multi-media and long-form content. User relationships on Weibo may be asymmetric; any user can follow any other user and add comments to a feed while reposting. This simple, asymmetric and distributed nature of Weibo allows an original feed to become a live viral conversation stream.
Weibo enables its advertising and marketing customers to promote their brands, products and services to users. Weibo offers a wide range of advertising and marketing solutions to companies of all sizes. The Company generates a substantial majority of its revenues from the sale of advertising and marketing services, including the sale of social display advertisement and promoted marketing offerings. Designed with a "mobile first" philosophy, Weibo displays content in a simple information feed format and offers native advertisement that conform to the information feed on our platform. To support the mobile format, we have developed and continuously refining our social interest graph recommendation engine, which enables our customers to perform people marketing and target audiences based on user demographics, social relationships, interests and behaviors, to achieve greater relevance, engagement and marketing effectiveness
Safe Harbor Statement
This press release contains forward-looking statements that relate to, among other things, Weibo's expected financial performance and strategic and operational plans (as described, without limitation, in the "Business Outlook" section and in quotations from management in this press release. Weibo may also make forward-looking statements in the Company's periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology, such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "confidence," "estimates" and similar statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, Weibo's limited operating history in certain new businesses; failure to grow active user base and the level of user engagement; the uncertain regulatory landscape in China; fluctuations in the Company's quarterly operating results; the Company's reliance on advertising and marketing sales for a majority of its revenues; failure to successfully develop, introduce, drive adoption of or monetize new features and products; failure to compete effectively for advertising and marketing spending; failure to successfully integrate acquired businesses; risks associated with the Company's investments, including equity pick-up and impairment; failure to compete successfully against new entrants and established industry competitors; changes in the macro-economic environment, including the depreciation of the Renminbi; and adverse changes in economic and political policies of the PRC government and its impact on the Chinese economy. Further information regarding these and other risks is included in Weibo's annual report on Form 20-Fs and other filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is current as of the date hereof, and Weibo assumes no obligation to update such information, except as required under applicable law.
Contact:
Investor Relations
Weibo Corporation
Phone: +86 10 5898-3336
Email: ir@staff.weibo.com
View original content:
SOURCE Weibo Corporation | https://www.whsv.com/prnewswire/2022/08/16/weibo-corporation-report-second-quarter-2022-financial-results-september-1-2022/ | 2022-08-16T10:07:34Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Wells Fargo & Company (NYSE: WFC) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Wells Fargo common stock between February 24, 2021 and June 9, 2022.
Lead Plaintiff Deadline: August 29, 2022
No obligation or cost to you.
Learn more about your recoverable losses in WFC:
https://www.kleinstocklaw.com/pslra-1/wells-fargo-wfc-lawsuit-loss-submission-form?id=30840&from=4
CLASS ACTION CASE DETAILS: The filed complaint alleges that Wells Fargo & Company made materially false and/or misleading statements and/or failed to disclose that: (i) Wells Fargo had misrepresented its commitment to diversity in the Company's workplace; (ii) Wells Fargo conducted fake job interviews in order to meet its Diverse Search Requirement; (iii) the foregoing conduct subjected Wells Fargo to an increased risk of regulatory and/or governmental scrutiny and enforcement action, including criminal charges; (iv) all of the foregoing, once revealed, was likely to negatively impact Wells Fargo's reputation; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Wells Fargo you have until August 29, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Wells Fargo securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the WFC lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/wells-fargo-wfc-lawsuit-loss-submission-form?id=30840&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/wfc-alert-klein-law-firm-announces-lead-plaintiff-deadline-august-29-2022-class-action-filed-behalf-wells-fargo-amp-company-shareholders/ | 2022-08-16T10:07:40Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Yext, Inc. (NYSE: YEXT) alleging that the Company violated federal securities laws.
Class Period: March 4, 2021 to March 8, 2022
Lead Plaintiff Deadline: August 16, 2022
No obligation or cost to you.
Learn more about your recoverable losses in YEXT:
https://www.kleinstocklaw.com/pslra-1/yext-lawsuit?id=30838&from=4
Yext, Inc. NEWS - YEXT NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Yext, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Yext's revenue and earnings were significantly deteriorating because of, among other things, poor sales execution and performance, as well as COVID-19 related disruptions; (ii) accordingly, Yext was unlikely to meet consensus estimates for its full year fiscal 2022 financial results and fiscal 2023 outlook; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Yext you have until August 16, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Yext securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the YEXT lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/yext-lawsuit?id=30838&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/yext-alert-klein-law-firm-announces-lead-plaintiff-deadline-august-16-2022-class-action-filed-behalf-yext-inc-shareholders/ | 2022-08-16T10:07:47Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of 17 Education & Technology Group Inc. (NASDAQ: YQ) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of persons or entities who purchased or otherwise acquired publicly traded 17EdTech securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with 17EdTech's December 2020 initial public offering.
Lead Plaintiff Deadline: September 19, 2022
No obligation or cost to you.
Learn more about your recoverable losses in YQ:
https://www.kleinstocklaw.com/pslra-1/17-education-technology-group-inc-loss-submission-form?id=30847&from=4
17 Education & Technology Group Inc. NEWS - YQ NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that 17 Education & Technology Group Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) 17EdTech's K-12 Academic AST Services would end less than a year after the Company's initial public offering; (2) as part of its ongoing regulatory efforts, Chinese authorities would imminently curtail and/or end 17EdTech's core business; and (3) as a result, defendants' statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in 17EdTech you have until September 19, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased 17EdTech securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the YQ lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/17-education-technology-group-inc-loss-submission-form?id=30847&from=4.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
View original content:
SOURCE The Klein Law Firm | https://www.whsv.com/prnewswire/2022/08/16/yq-alert-klein-law-firm-announces-lead-plaintiff-deadline-september-19-2022-class-action-filed-behalf-17-education-amp-technology-group-inc-shareholders/ | 2022-08-16T10:07:54Z |
The benchmark facilities aim to take lead in manufacturing new dry-mixed mortar construction materials
CHANGSHA, China, Aug. 16, 2022 /PRNewswire/ -- This July, Zoomlion Heavy Industry Science & Technology Co., Ltd. ("Zoomlion;" 1157.HK) began commercial production of its New Material Industry Park in Ji'an City and started the construction of two flagship factories for new material in Xiangyin County and Chongqing City in China. The progress land a significant strategic achievement of Zoomlion's new material business of dry-mixed mortar roadmap and a milestone in the company's new material development.
Zoomlion's new material manufacturing specializes in the R&D and production of green, energy-saving and high-efficiency new dry-mixed mortar, providing integrated solutions from formulation, production, and logistics to construction and service.
"The need for high-strength, environmental-friendly, and intelligent construction projects is expanding in recent years, which presents a huge opportunity for new construction material markets, and Zoomlion has strong advantages in technology, products and supply chains in new material manufacturing," said Chen Peiliang, vice president of Zoomlion and general manager of Zoomlion New Material Technology.
"We own over 3,000 types of formulas and techniques of building materials and have formed a system of five major product categories. We also have the complete supply chain which consists of an intelligent production line, new construction materials, construction equipment and methods," added Chen.
Currently, Zoomlion New Material Industry Park (Ji'an) has launched an RMAS4000 dry mixed mortar production line that produces mainly prefabricated mortar and lightweight mortar for mechanized construction. In near future, the company is looking to further invest in high-end special mortar production lines such as KMA and MTA following market demand.
Its new material factory in Xiangyin plans to construct 37,000 square meters of production facilities, which upon completion will be the largest and most automated manufacturing base for sustainable new materials. The company is also building a new material flagship factory in Chongqing, aiming to achieve an 800,000-ton annual production capacity of various dry mixed mortar, with an annual forecasting value of 800 million yuan (US$ 118 million).
"In recent years, Zoomlion has focused on expanding from its main business to establish three major sectors: construction machinery, intelligent agricultural machinery and intelligent farming, as well as new construction materials. The diverse business layout has unleashed the potential of the company and drove new business growth," said Chen.
View original content:
SOURCE Zoomlion | https://www.whsv.com/prnewswire/2022/08/16/zoomlion-celebrates-opening-new-material-flagship-industrial-parks/ | 2022-08-16T10:08:00Z |
Big Island elementary students get a lesson in safety over the summer.
They took part in a project to re-do the roads around their school.
Students at Keaukaha Elementary came back to school and saw a big change around their campus.
"Keaukaha is a whole block, so we wanted to do something super impactful," said Hawaii County Infrastructure and Design Planner Natasha Soriano.
Angled parking along the Hawaiian Home Land streets forced children to walk and ride their bikes in the road.
So parking was changed into parallel spaces, and a dedicated bike and walking path was put in for students to use.
"They think it is fun, because it is a wider path. Now they can ride side by side, and walk side by side in a safe area," said Mona Ubedei, Parent Community Networking Center Facilitator.
The quick build project added more than just a sterile safe passage for pedestrians, but instead included an artistic mural on the pavement -- that also reflected the community.
"We chose plants that signify our community. In one corner there was kukui, another corner is the hala, and in another the laua'e," added Abedei.
The project provides a sense of pride for the Keaukaha community, as well as protection for young students.
"I've seen that it has helped kids cross the intersections easier. It helps designate 'hey, go this way, instead of going in the street'. It has defined a walking path around the school," stated Soriano.
There have been other artistic pedestrian safety projects around the state. Including one along King Street in front of Farrington High School. But all have in common they were quick builds meant to be temporary.
"It give a sense - we are testing this out. So, if there are concerns about this we can always reverse course pretty easily because the investment wasn't great," said Soriano.
The cost for materials came out to about $10,000, paid for with a Hawaii Department of Health grant.
Because of the low cost, and big impact Soriano would like to put similar projects in schools around the Big island.
But because many of those campuses are along major highways, she says it would be more challenging to modify state roads.
Do you have a story idea? Email news tips to news@kitv.com | https://www.kitv.com/news/local/big-island-students-create-quick-build-project-to-make-school-streets-safer/article_74f92868-1d1d-11ed-957e-d36d16304f3c.html | 2022-08-16T10:12:38Z |
HONOLULU-- A Molokai man learned his fate after pleading guilty for an in-flight disturbance which took place in September of 2021.
33 year old Steven Sloan must pay restitution of just over 6 thousand dollars. Plus, the defendant was sentenced to two years of supervised release with credit for time served. Following the conclusion of the case, Sloan met with probation officials immediately after the sentencing.
According to statement made by the Assistant District Attorney, Sloan has both mental health issues and history of drug use.
In September of last year, a flight attendant had to activate protocols to divert a Hilo bound flight back to Honolulu, as the crew moved to protect the cockpit and aircraft doors.
Sloan caused the in-flight disturbance after he struck a flight attendant twice without provocation, in the stomach and then the head. There was no argument of any kind before the attack.
Sloan was arrested in the plane and was taken into custody on the tarmac, upon returning to Daniel K. Inouye International Airport. The defendant admitted to hearing voices over several weeks in an earlier court proceeding.
The maximum penalties for the 2 federal counts Sloan faced would have been a fine of 250 thousand dollars, and 20 years in prison for assault of the crew member.
A more lenient sentence of two years supervised release and a fine of just over 6 thousand dollars was given in contrast. Sloan's attorney did not comment on the sentencing.
Do you have a story idea? Email news tips to news@kitv.com
Jeremy Lee joined KITV after over a decade & a half in broadcast news from coast to coast on the mainland. Jeremy most recently traveled the country documenting protests & civil unrest. | https://www.kitv.com/news/molokai-man-fined-for-striking-hawaiian-air-flight-attendant/article_3f21b34e-1d32-11ed-9ec3-03ea02b3d666.html | 2022-08-16T10:12:40Z |
Award-winning author Salman Rushdie is awake and "articulate" in his conversations with investigators as he remains hospitalized for severe injuries following a stabbing attack in western New York Friday, a law enforcement official with direct knowledge of the investigation told CNN Monday.
Rushdie, 75, underwent emergency surgery after a man allegedly stabbed him several times before his scheduled lecture at the Chautauqua Institution, officials have said.
The writer -- whose books have garnered him awards -- was conscious Monday and able to respond to questions from investigators, according to the law enforcement official.
It's unclear what Rushdie told investigators following the attack that shook the literary world and prompted immediate condemnation from around the globe.
The suspect in the attack, identified as 24-year-old Hadi Matar, allegedly jumped onto the stage at the Chautauqua Institution, about 70 miles southwest of Buffalo, New York, and lunged toward Rushdie, repeatedly stabbing him, according to New York State Police. The suspect was held down by audience members and staff who forced him to the ground until he was arrested by a state trooper.
The author suffered three stab wounds to his neck, four stab wounds to his stomach, puncture wounds to his right eye and chest, and a laceration on his right thigh, Chautauqua County District Attorney Jason Schmidt said during Matar's arraignment over the weekend. Rushdie may lose sight in his right eye, he noted, adding that the attack was targeted and preplanned.
Officials believe Matar, who lived in Fairview, New Jersey, traveled to Buffalo via bus and used a ridesharing app to reach Chautauqua the day before the attack, according to the law enforcement official who spoke to CNN.
Investigators do not know where Matar spent the night and they are working with the institution to comb through surveillance footage to determine whether he was near the area during overnight hours, the official added.
Upon his arrest, Matar had a fake driver's license, some cash, two Visa prepaid gift cards and no wallet, the official told CNN. Matar refused to answer questions from authorities when he was taken into custody and asked for an attorney, the law enforcement official said.
Public defender Nathaniel Barone, who represents Matar, told CNN his client has been "very cooperative" and communicating openly.
Matar pleaded not guilty to charges of second-degree attempted murder and second-degree assault with intent to cause physical injury with a deadly weapon, Barone said.
Rushdie lived in hiding after his novel "The Satanic Verses" was published in 1988, drawing criticism from some Muslims who considered it sacrilegious. The late Iranian leader Ayatollah Ruhollah Khomeini, who described the book as an insult to Islam and the faith's Prophet Mohammed, issued a religious decree, or fatwa, calling for Rushdie's death in 1989.
What we know about the suspect
A motive for the attack remains unclear and authorities are sifting through items they took from Matar's New Jersey home, according to the law enforcement source.
Matar, who has no documented criminal history, is accused of using a knife in the stabbing, according to a felony complaint.
It remains unclear how he may have entered the event armed with a knife. There were no security searches or metal detectors at the event, said a witness whom CNN is not identifying because they expressed concerns for their personal safety.
Matar was described as someone who is quiet and mostly kept to himself, according to people who interacted with him at a boxing gym in North Bergen, New Jersey.
Desmond Boyle, the owner of State of Fitness Boxing Club, told CNN Matar enrolled there in April.
"You know that look, that 'it's the worst day of your life' look? He came in every day like that," Boyle told CNN.
Roberto Irizarry, a member of the gym, told CNN Matar went to the gym about three or four times in a week and was "a very quiet kid."
"It's a brotherly environment, family environment -- we try to involve everybody. He was to himself, pretty much," Irizarry said.
Matar faces up to 32 years if convicted, the district attorney said.
US condemns Iranian government statement
The assault on the famed author drew support for him from writers and officials around the world.
UK Prime Minister Boris Johnson said he was "appalled" by the attack on Rushdie, who is also a British citizen.
"Appalled that Sir Salman Rushdie has been stabbed while exercising a right we should never cease to defend. Right now my thoughts are with his loved ones."
Rushdie began living under British protection after Iran issued the fatwa calling for his death.
On Monday, the Iranian government denied ties to the attack in its first official reaction.
"We do not consider anyone other than (Rushdie) and his supporters worth of blame and even condemnation," Iranian Foreign Ministry spokesman Nasser Kanaani said during a televised news conference.
Iranian officials haven't learned anything about the suspect other than what US news media has reported, Kanaani said, according to Iranian state media. "We categorically and seriously deny any connection of the assailant with Iran," Kanaani added.
The US State Department denounced Iran's stance, saying the comments are "despicable" and "disgusting."
"It is no secret that the Iranian regime has been central to the threats against his life over the course of years now," said State Department spokesperson Ned Price, who called Iran's "gloating" over the attack "absolutely outrageous."
"We want it to be very clear that it is not something that we can tolerate," Price said.
In 1998, the Iranian government sought to distance itself from the fatwa by pledging not to seek to carry it out. Despite that, Iran's Supreme Leader Ayatollah Ali Khamenei reaffirmed the religious edict.
In February 2017, on Khamenei's official website, the supreme leader was asked if the "fatwa against Rushdie was still in effect," to which Khamenei confirmed it was, saying, "The decree is as Imam Khomeini issued."
The-CNN-Wire
™ & © 2022 Cable News Network, Inc., a WarnerMedia Company. All rights reserved. | https://www.kitv.com/news/national/salman-rushdie-is-awake-and-articulate-after-stabbing-attack-in-new-york-official-says/article_0d382e2b-1262-5b90-ad12-95f57912b577.html | 2022-08-16T10:12:41Z |
HONOLULU (KITV4) - Grassroot Institute of Hawaii released a report that stated most Hawaii homes are purchased from locals that want to buy a house. Experts say the enemy is not out-of-state buyers but current zoning and housing regulations.
"In a majority of homes, it wouldn’t take a lot to put up a wall to make another bedroom yet getting the permitting done for that and going through hoops for regulations can be very prohibitive. If we can solve little problem like this, we can go a long way to make houses available for our local people," said Dr. Keli'i Akina, CEO of Grassroot Institute of Hawaii.
Hawaii residents purchased almost 76% of the homes that were for sale while residents from the mainland accounted for 22%. Lastly, less than 2% were bought by residents from foreign countries.
According to their newest report, purchases from in-state residents steadily increased since 2010.
However, the state economist, Eugene Tian, disagrees in part with the study’s findings. He said the emphasis on outside buyers having no impact on housing prices is a little too simple. Other factors need to be included. He said it is premature to conclude that outside buyers have no impact since they purchase 25% of our homes – 25% is large enough to have an impact on the prices.
Realtor Abe Lee also added that zoning regulations add time to develop homes.
"In Hawaii, it can take 12-15 years to get re-zoning on our land. D.R. Horton bought 1,500 acres on the west Oahu side and it took almost 14 years to get it completed. It created more than 11,000 homes and the demand was there," said Abe Lee, principal broker at Century 21 iProperties Hawaii.
Lee said he recommends aspiring home buyers to reach out to nonprofits that provide training and education on how to buy a home in Hawaii.
Do you have a story idea? Email news tips to news@kitv.com | https://www.kitv.com/news/new-report-shows-local-residents-buy-most-hawaii-homes/article_e4317400-1d19-11ed-b151-6f3a094d3575.html | 2022-08-16T10:12:42Z |
HONOLULU (KITV4) -- They say every vote counts. And nowhere is that more true than in some down ballot races in Hawaii.
While the marquee races including Governor and Lt. Governor were decisive wins on Election night, several races are still down to the race days later.
The closest race in the state: the Republican primary for the District 45 House seat in Waianae. Currently, Tiana Wilbur is leading the race by only 8 votes over Cherie Oquendo for the GOP nod to take on incumbent Cedric Gates (D) in November.
Another race nearly as close: The Democratic race for the open District 35 House seat in Waipahu and Pearl City. After the lead changed hands most of the night, after the 4th printout, Cory Chun is now leading Nathan Takeuchi by just 9 votes.
The other races being recounted: Republican House races in HD-11 (south Maui) and HD-20 (Kaimuki / Kapahulu), Republican Senate race in SD-24 (windward Oahu), and the Kauai County council race.
The state says the recount must be finished by 7 p.m. Tuesday.
Do you have a story idea? Email news tips to news@kitv.com
Tom anchors Good Morning Hawaii weekends and reports for KITV4. He comes to Hawaii after reporting in Nevada, Oklahoma and Georgia. Tom is a proud Terp, graduating from the University of Maryland in 2012. | https://www.kitv.com/news/too-close-to-call-recount-underway-in-6-razor-thin-hawaii-primary-races/article_4272ed40-1d39-11ed-a026-735c6a483e57.html | 2022-08-16T10:12:44Z |
A barbershop in Portland, Oregon, is celebrating its place on the National Register of Historic Places. The addition is part of a larger effort to recognize and protect Black history.
Copyright 2022 NPR
A barbershop in Portland, Oregon, is celebrating its place on the National Register of Historic Places. The addition is part of a larger effort to recognize and protect Black history.
Copyright 2022 NPR | https://www.keranews.org/2022-08-16/a-black-owned-barbershop-is-added-to-the-national-register-of-historic-places | 2022-08-16T10:30:38Z |
When Nuar Alsadir went to clown school, she wasn't there for a career in clowning. The poet and psychoanalyst was researching laughter for a new book –- going out to comedy clubs and improv shows to really listen to the audience and hear when they laughed.
What she learned at clown school surprised her.
"The audience tended to laugh not when something was humorous, but when it was honest," she says.
We know that laughter is physiologically beneficial – it releases endorphins and increases blood flow. But Alsadir learned that it can also help connect to the unconscious and bring out our most authentic selves. She writes about this in her new book Animal Joy: A Book of Laughter and Resuscitation.
Both psychoanalysis and the art of clowning – though in radically different ways – create a path toward the unconscious, making it easier to access the unsocialized self, or, in philosopher Friedrich Nietzsche's terms, "to become the one you are."
When Alsadir took the stage at clown school, she realized that people were most moved when she spoke about something that was meaningful to her.
"Counterintuitively, it's not what you say," she says. "It's the emotion that you access in yourself as you're delivering it that is going to reach other people."
The title of Alsadir's book comes from something she read in Chekhov's notebook: "The so-called pure childlike joy of life is animal joy."
For Alsadir, it is the highest joy. "It's when we're most embodied, and most inside of our true selves — our spontaneous selves."
In the book, the poet points to two kinds of laughter: Duchenne and non-Duchenne laughter, named after the nineteenth-century neurologist who studied the ways in which we manifest our emotions.
"Duchenne laughter is the full bodied outburst that overtakes you," Alsadir says. "The unconscious is suddenly released into the room like a wild animal."
It's when you don't necessarily know why you're laughing, but you can't stop. It can make your stomach cramp and tears run down your cheeks.
"The other kind of laughter, which is actually the most common form, is called non-Duchenne," she says. "And that kind of laughter is social laughter."
The poet says that 90% of laughter is this socially coded, non-Duchenne kind. We normally use it to communicate something to the world. Even if we do this subconsciously, Alsadir understands it to be less of an outburst and more of an intellectual tool used to control interactions.
"You're letting someone know that they're safe, or you're happy to see them," she says. "It can also be used to counteract a communication that's about to come."
She gives the example of laughter that accompanies the phrase "don't take this the wrong way" or "no offense" — adding that what comes after non-Duchenne laughter can often be uncomfortable or critical.
Alsadir is more interested in Duchenne laughter, because it brings out our spontaneous impulses – reviving us in the process. She writes in the book:
Laughter shakes us out of our deadness
"When you are in touch with your true self, you feel more alive, more present, embodied," she says. "And that feeling is one of the best feelings there is."
The poet hopes her new book will lead readers to that feeling.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.keranews.org/2022-08-16/a-book-on-laughter-and-how-it-brings-out-our-most-authentic-selves | 2022-08-16T10:30:44Z |
The city has revived an age-old fire prevention technique and deployed a platoon of grazing animals — goats and sheep — to feast away at the dry vegetation that can fuel wildfires.
Copyright 2022 NPR
The city has revived an age-old fire prevention technique and deployed a platoon of grazing animals — goats and sheep — to feast away at the dry vegetation that can fuel wildfires.
Copyright 2022 NPR | https://www.keranews.org/2022-08-16/barcelona-is-calling-in-reinforcements-to-guard-against-extreme-wildfires | 2022-08-16T10:30:51Z |
Scientists seeking to learn about prehistoric oceans have flocked to an unlikely place: western Kansas. And now, the fossils embedded in these Great Plains could hold clues about the future of life.
Copyright 2022 Kansas Public Radio
Scientists seeking to learn about prehistoric oceans have flocked to an unlikely place: western Kansas. And now, the fossils embedded in these Great Plains could hold clues about the future of life.
Copyright 2022 Kansas Public Radio | https://www.keranews.org/2022-08-16/believe-it-or-not-dry-dusty-western-kansas-is-the-place-to-study-prehistoric-oceans | 2022-08-16T10:30:57Z |
Millions of students are heading back to college for their third full academic year since the COVID pandemic hit. But as students move into their dorms and sign up for classes this year, things are different.
On many campuses, the masking restrictions are gone. Classes are being held in-person, testing requirements are loosening, and quarantine and isolation dorms have been returned to regular housing. College officials say the goal of easing these restrictions is to try and get students back to a more typical college experience.
"I don't think we can just forget about COVID at all," says Lisa Pearlman, the director of student health services at Worcester Polytechnic Institute (WPI) in Massachusetts. "But I do think we can kind of live with COVID for the first time and still do all of the other normal things. And that feels really different about this year than the past two,"
While the average number of cases every day in the U.S. has been above 100,000 for the last several weeks, it has slowly decreased heading into fall, according to the Centers for Disease Control and Prevention. Hospitalizations and deaths are far lower than they've been in other phases of the pandemic and are currently declining.
At WPI, where Pearlman works, they have discontinued weekly surveillance testing and shifted to providing rapid tests only for those experiencing symptoms or who have been exposed to COVID-19. Masks are no longer required on campus (apart from health care settings) and most students will now need to arrange their own isolation and quarantine space.
"We're really trying to kind of empower our community to make decisions on their own, to get the help and support that they need," Pearlman says. "We're not going to, like, micromanage what everybody's doing in the same way that we have been for the past 2 1/2 years."
This shift follows new CDC guidance released in August that puts more focus on how individuals should go about making their own decisions about risk and what precautions they make to reduce that risk.
Students move in, prepared for a different kind of college experience
Outside Grace & Broad, a residence hall at Virginia Commonwealth University in Richmond, students and families are moving in for the fall semester.
Some COVID precautions are still in place, including limits on the number of people who can help move students in. But there's also a sense of things getting back to normal. One welcome change from the COVID-times: The large cardboard boxes on wheels have returned, so students can pile several of their own boxes in and make far fewer trips.
"This year is already way easier than last year because of COVID stuff," explains junior Jenna Curia, who is helping her boyfriend, Donovan Green, also a junior, move into the dorm.
They're both vaccinated, and though the school is not requiring vaccines this fall, they feel "much safer" than in previous semesters. "The first year, when things were really serious, I didn't go out whatsoever," explains Green.
Last year, he went to a few parties — but mostly with students he already knew. "Because of COVID the rules were a lot stricter on social stuff, like who you could bring in [to dorms]," he says, "but this year it is a lot looser." He still plans on playing it safe, since the virus is "still out there."
The biggest difference for Curia and Green is that most classes are now in-person. "I've only had one in-person class during my first two years of college," says Curia. "I'm fully in-person this semester, so I'm very excited."
Both students are looking forward to hanging out after class to talk with professors, and making friends with fellow students. They say their online classes made it harder to make friends and connect with others about what they were learning.
Even with fewer precautions, colleges should keep their guard up
The beginning of the semester, when there's a lot of student migration, is when cases tend to go up. While some smaller schools are still requiring students to get tested when they arrive, it has become far less common. Instead, universities are suggesting that students self-test before they move in or arrive on campus.
In many cases, testing and vaccination clinics will be available during move-in days and during the first few weeks of the semester, before phasing out.
"COVID is not quite as scary as it was three years ago. However, it is not gone," says Gerri Taylor, co-leader of the COVID Task Force for the American College Health Association. "So colleges really cannot be complacent at this point. They've got to watch numbers. They've got to watch trends on campus, trends in the local community, in their state, and be able to pivot very quickly."
While many of the COVID-19 dashboards tracking positive cases remain updated, many schools have dissolved, cut back, or renamed their COVID-19 task forces, which administrators formed to deal with the virus. Many of those groups have expanded to develop plans for monkeypox and other health concerns.
"These groups and task forces have been really successful and extremely valuable," says Taylor. "Campuses need to continue them because we don't know what's around the corner."
Campuses have the tools to deal with COVID, even if restrictions are eased
The two-plus years of dealing with the pandemic taught colleges a lot about the virus and what mitigation efforts work. A recent study demonstrated that campus vaccine mandates had a substantial effect on infection and death rates in nearby areas, according to the National Bureau of Economic Research. The research concludes that those mandates likely reduced total U.S. deaths from the virus by about 5% — or more than 7,300 lives — during the fall 2021 semester.
"It's just astronomical how much we have learned in the past two years," says Pearlman at WPI. That knowledge is lowering her level of stress this fall. "I feel really comfortable entering this year, and that is a new feeling for me. It's the first time I can say that."
Removing some of the COVID restrictions on social gatherings is also an important aspect of supporting students on campus, says Eileen Hineline, a registered nurse and the director of the student health center at Barry University in Miami.
"We're trying to get back to not being afraid to socialize," she says. "We've seen the increase in mental health issues from having so many of our students isolated. This is an important time in their lives that they absolutely need to have that social contact."
She says she's heartened by how much colleges have learned about COVID and by data showing that individuals who are vaccinated and skew younger — such as college students — are having mild cases.
"What is different right now than three years ago," Hineline says, "is that we understand the virus a lot more. We're dancing with the devil that we know. And we've definitely learned who this devil is and what we can do about it."
Megan Pauly, a reporter at Virginia Public Media, contributed to this story.
Copyright 2022 NPR. To see more, visit https://www.npr.org. | https://www.keranews.org/2022-08-16/colleges-ease-covid-19-restrictions-as-fall-semester-begins-for-millions-of-students | 2022-08-16T10:31:03Z |
The long-awaited new season of the kids' show Bluey, a cartoon about a family of Australian cattle dogs, premiered on Disney+ last week. (Story first aired on Weekend Edition Sunday on Aug. 7, 2022.)
Copyright 2022 NPR
The long-awaited new season of the kids' show Bluey, a cartoon about a family of Australian cattle dogs, premiered on Disney+ last week. (Story first aired on Weekend Edition Sunday on Aug. 7, 2022.)
Copyright 2022 NPR | https://www.keranews.org/2022-08-16/encore-the-secret-behind-why-parents-and-kids-love-bluey | 2022-08-16T10:31:09Z |
Kenya endured a tense night after it was announced that Ruto had narrowly defeated his rival in the country's presidential election. Across the capital Nairobi, scenes of celebration mixed with anger.
Copyright 2022 NPR
Kenya endured a tense night after it was announced that Ruto had narrowly defeated his rival in the country's presidential election. Across the capital Nairobi, scenes of celebration mixed with anger.
Copyright 2022 NPR | https://www.keranews.org/2022-08-16/in-kenyas-presidential-election-william-ruto-is-declared-the-winner | 2022-08-16T10:31:15Z |
When he could not get his savings, a man in Beirut held hostages at a bank and threatened to set himself on fire. Many frustrated by Lebanon's deep economic crisis consider him a hero.
Copyright 2022 NPR
When he could not get his savings, a man in Beirut held hostages at a bank and threatened to set himself on fire. Many frustrated by Lebanon's deep economic crisis consider him a hero.
Copyright 2022 NPR | https://www.keranews.org/2022-08-16/lebanese-citizens-celebrate-a-hostage-taker-who-tried-to-recover-his-bank-savings | 2022-08-16T10:31:21Z |
An update in the Georgia probe against former President Trump and his allies. Sarah Palin faces Alaska voters again in a special election for Congress. William Ruto wins Kenya's presidential election.
Copyright 2022 NPR
An update in the Georgia probe against former President Trump and his allies. Sarah Palin faces Alaska voters again in a special election for Congress. William Ruto wins Kenya's presidential election.
Copyright 2022 NPR | https://www.keranews.org/2022-08-16/news-brief-georgia-election-probe-alaska-house-seat-kenyan-election-results | 2022-08-16T10:31:27Z |
Congresswoman Liz Cheney is facing a likely primary defeat in Wyoming. She has spoken out against former President Donald Trump and is down by 20 points in primary polls.
Copyright 2022 NPR
Congresswoman Liz Cheney is facing a likely primary defeat in Wyoming. She has spoken out against former President Donald Trump and is down by 20 points in primary polls.
Copyright 2022 NPR | https://www.keranews.org/2022-08-16/rep-liz-cheney-fights-to-keep-her-seat-in-wyomings-gop-primary | 2022-08-16T10:31:33Z |
Alaskans go to the polls Tuesday to decide, among other things, whether to send former governor and Republican vice presidential nominee Sarah Palin to Congress.
The right-wing Republican is among three candidates in a special election for Alaska's sole U.S. House seat. Palin is up against Republican Nick Begich III and Democrat Mary Peltola in the first test of Alaska's new ranked-choice voting system.
The winner will serve until the end of the year, finishing the term of GOP Rep. Don Young. He died in March after serving 49 years.
Begich is a wealthy tech entrepreneur. He was co-chair of Young's 2020 campaign but turned on the incumbent the next year and ran to Young's right. He comes from a family of prominent Democrats and is named for his grandfather, the congressman who held the seat before Young.
With two conservatives splitting the vote, Peltola, a salmon advocate and former state legislator from western Alaska, is likely to gain the most first-choice ballots. But the winner of the special election won't be known until the end of August, after all the mailed ballots arrive. That's when the Alaska Division of Elections will tabulate the rankings. The third-place finisher will be eliminated and the ballots that went to the candidate will be reallocated according to the voters' second choices.
Palin has called it the "screwiest system" that "makes no sense to most voters."
A slim majority of Alaska voters adopted the new method in 2020. It pairs a nonpartisan primary with ranked choice voting in the general.
To win the special general, one of the conservatives would have to get enough second-choice votes from the other to overcome Peltola's likely lead in the first round of counting.
The two Republicans have been attacking each other for weeks while leaving Peltola alone.
Palin recently called the Democrat a "sweetheart," even as she attacks Begich for supporting Democrats in past races.
Begich has called Palin a "quitter," tapping into the disappointment many Alaska Republicans felt when she resigned as governor in 2009 in the wake of her unsuccessful campaign as John McCain's vice presidential running mate in 2008.
"We picked her to do a job, and she didn't bother to finish it. Because she wanted to go out there and get rich and famous," a Begich ad says.
While they need second-choice votes, Begich and Palin have a more immediate concern.
"Game No. 1 has to be that you don't come in third," said Art Hackney, a Republican consultant working for Begich. "Because if you come in third, you are, you know, moot to the whole thing, and it becomes your second-choice votes that are the things that matter."
To complicate this election day for voters, it is also the day of the regular primary.
Sen. Lisa Murkowski, a moderate Republican who supports abortion rights, is on the ballot for reelection with 18 challengers. Among them is attorney and evangelical pastor Kelly Tshibaka. She, like Palin, has the endorsement of former President Donald Trump.
The Alaska Republican Party would like to punish Murkowski for voting to convict Trump at his second impeachment trial, but the new system eliminates the partisan primary. The top four vote-getters will advance to the November ballot. Murkowski and Tshibaka are both sure to make the cut, along with Democrat Pat Chesbro, a retired educator.
Also at stake this election season: Who will serve the next full term in the U.S. House. Begich, Palin and Peltola are all in that race, too.
Copyright 2022 Alaska Public Media | https://www.keranews.org/2022-08-16/sarah-palin-faces-alaska-voters-again-in-a-special-election-for-congress | 2022-08-16T10:31:40Z |
School districts across the country are trying to make classrooms more inclusive. But misinformation, sometimes spread by top elected officials, is fueling fears of a hidden agenda.
Copyright 2022 NPR
School districts across the country are trying to make classrooms more inclusive. But misinformation, sometimes spread by top elected officials, is fueling fears of a hidden agenda.
Copyright 2022 NPR | https://www.keranews.org/2022-08-16/schools-find-conspiracy-theories-interfere-with-making-classrooms-inclusive | 2022-08-16T10:31:46Z |
Rob Schmitz is NPR's international correspondent based in Berlin, where he covers the human stories of a vast region reckoning with its past while it tries to guide the world toward a brighter future. From his base in the heart of Europe, Schmitz has covered Germany's levelheaded management of the COVID-19 pandemic, the rise of right-wing nationalist politics in Poland and creeping Chinese government influence inside the Czech Republic. | https://www.keranews.org/2022-08-16/shallow-rhine-river-has-a-devastating-effect-on-commercial-traffic | 2022-08-16T10:31:52Z |
Residents in rural northern California are being allowed back in to assess damage from the deadly McKinney Fire. High costs for everything from gas to building supplies is making recovery daunting.
Copyright 2022 NPR
Residents in rural northern California are being allowed back in to assess damage from the deadly McKinney Fire. High costs for everything from gas to building supplies is making recovery daunting.
Copyright 2022 NPR | https://www.keranews.org/2022-08-16/survivors-of-the-mckinney-fire-are-forced-to-rebuild-during-a-time-of-inflation | 2022-08-16T10:31:58Z |
The U.S has limited supplies of monkeypox vaccine, but the vaccines are even scarcer globally. Countries such as Nigeria, where the outbreak began, have no vaccines at all.
Copyright 2022 NPR
The U.S has limited supplies of monkeypox vaccine, but the vaccines are even scarcer globally. Countries such as Nigeria, where the outbreak began, have no vaccines at all.
Copyright 2022 NPR | https://www.keranews.org/2022-08-16/the-who-wants-to-help-low-income-nations-combat-the-monkeypox-outbreak | 2022-08-16T10:32:04Z |
Biden to sign massive climate and health care legislation
KIAWAH ISLAND, S.C. (AP) — President Joe Biden will sign Democrats’ landmark climate change and health care bill on Tuesday, delivering what he has called the “final piece” of his pared-down domestic agenda, as he aims to boost his party’s standing with voters less than three months before the midterm elections.
The legislation includes the most substantial federal investment in history to fight climate change — some $375 billion over the decade — and would cap prescription drug costs at $2,000 out-of-pocket annually for Medicare recipients. It also would help an estimated 13 million Americans pay for health care insurance by extending subsidies provided during the coronavirus pandemic.
The measure is paid for by new taxes on large companies and stepped-up IRS enforcement of wealthy individuals and entities, with additional funds going to reduce the federal deficit.
The House on Friday approved the measure on a party-line 220-207 vote. It passed the Senate days earlier with Vice President Kamala Harris breaking a 50-50 tie in that chamber.
Biden is set to sign the bill during a small ceremony in the State Dining Room of the White House, sandwiched between his return from a six-day beachside vacation in South Carolina and his departure for his home in Wilmington, Delaware. He plans to hold a larger “celebration” for the legislation on Sept. 6 once lawmakers return to Washington.
The signing caps a spurt of legislative productivity for Biden and Congress, who in three months have approved legislation on veterans’ benefits, the semiconductor industry and gun checks for young buyers. The president and lawmakers have also responded to Russia’s invasion of Ukraine and supported NATO membership for Sweden and Finland.
With Biden’s approval rating lagging, Democrats are hoping that the string of successes will jump-start their chances of maintaining control in Washington in the November midterms. The 79-year-old president aims to restore his own standing with voters as he contemplates a reelection bid.
The White House announced Monday that it was going to deploy Biden and members of his Cabinet on a “Building a Better America Tour” to promote the recent victories, though the administration has yet to announce specific travel by the president.
“In the coming weeks, the President will host a Cabinet meeting focused on implementing the Inflation Reduction Act, will travel across the country to highlight how the bill will help the American people, and will host an event to celebrate the enactment of the bill at the White House on September 6th,” the White House said in a statement.
Republicans say the legislation’s new business taxes will increase prices, worsening the nation’s bout with its highest inflation since 1981. Though Democrats have labeled the measure the Inflation Reduction Act, nonpartisan analysts say it will have a barely perceptible impact on prices.
The measure is a slimmed-down version of the more ambitious plan to supercharge environment and social programs that Biden and his party unveiled early last year.
Biden’s initial 10-year, $3.5 trillion proposal also envisioned free prekindergarten, paid family and medical leave, expanded Medicare benefits and eased immigration restrictions. That crashed after centrist Sen. Joe Manchin, D-W.Va., said it was too costly, using the leverage every Democrat has in the evenly divided Senate.
Still, Biden and Democrats are hailing the legislation as a once-in-a-generation investment in addressing the long-term effects of climate change, as well as drought in the nation’s West.
The bill will direct spending, tax credits and loans to bolster technology like solar panels, consumer efforts to improve home energy efficiency, emission-reducing equipment for coal- and gas-powered power plants, and air pollution controls for farms, ports and low-income communities.
Another $64 billion would help 13 million people pay premiums over the next three years for privately bought health insurance under the Affordable Care Act. Medicare would gain the power to negotiate its costs for pharmaceuticals, initially in 2026 for only 10 drugs. Medicare beneficiaries’ out-of-pocket prescription costs would be limited to $2,000 annually starting in 2025, and beginning next year would pay no more than $35 monthly for insulin, the costly diabetes drug.
___
Associated Press writer Alan Fram in Washington contributed to this report.
Copyright 2022 The Associated Press. All rights reserved. | https://www.wvva.com/2022/08/16/biden-sign-massive-climate-health-care-legislation/ | 2022-08-16T11:12:53Z |
Mom arrested after 2 toddlers found in hot car outside Walmart
OKLAHOMA CITY (KOCO) - Police arrested a mother after they say she left her two 2-year-old daughters in the back seat of a hot car while she was grocery shopping at Walmart.
The incident occurred Sunday at a Walmart Supercenter in Oklahoma City. At 2:22 p.m., the mom walked into the store alone. Forty minutes later, she walked out to find her car surrounded by police officers.
Police say a stranger saw two 2-year-old girls unconscious in the back seat of the mom’s car and took action. The girls were in their car seats, with temperatures outside hitting nearly 100 degrees.
“Actually, forced their way into the sunroof, unlocked the doors, got the kids out of the car. They were lethargic at the time,” said Oklahoma City Police Sgt. Gary Knight.
A Walmart security officer put the kids into her air-conditioned car.
Police say the store made numerous intercom announcements, repeating the vehicle’s tag number, but no one ever came out.
“It doesn’t matter how important your errand is; those kids are the most important thing, or at least, they should be,” said CEO Joe Dorman of the Oklahoma Institute for Child Advocacy.
He says if you see a child locked in a hot car, don’t hesitate.
“They are not only well within their right to go through the car, even if it damages the car; I would say it’s encouraged to make sure those kids are safe. For a parent or guardian, just to think they would leave their kids in a car on a hot day like that, it’s just astounding,” he said.
Police say the toddlers are expected to be OK. They are now with family members.
Their mother is facing two complaints of child neglect.
Copyright 2022 KOCO via CNN Newsource. All rights reserved. | https://www.wvva.com/2022/08/16/mom-arrested-after-2-toddlers-found-hot-car-outside-walmart/ | 2022-08-16T11:12:59Z |
Multiple people hurt in Memphis hospital shooting, police say
Published: Aug. 16, 2022 at 6:50 AM EDT|Updated: 22 minutes ago
MEMPHIS, Tenn. (WMC/Gray News) - Multiple people were injured overnight after a shooting at a Memphis hospital.
Memphis Police Department confirmed the shooting happened at Methodist North Hospital on Covington Pike around 12:47 a.m. Tuesday. It is unclear if it happened inside or outside the hospital.
Dispatch also couldn’t specify how many victims were shot.
A vehicle was seen at the hospital riddled with bullet holes.
Other media reports indicate that a second crime scene was at a gas station, where a rifle could be seen on the ground, the Associated Press reported.
No suspect information is available at this time.
Copyright 2022 WMC via Gray Media Group, Inc. All rights reserved. The Associated Press contributed to this report. | https://www.wvva.com/2022/08/16/multiple-people-hurt-memphis-hospital-shooting-police-say/ | 2022-08-16T11:13:06Z |
We’ll have a taste of fall today
Occasional showers and cooler weather are expected today
Published: Aug. 16, 2022 at 6:35 AM EDT|Updated: 35 minutes ago
Today won’t bring quite as much widespread and heavy rain, but hit-or-miss showers are possible on and off throughout the day. We’ll otherwise see lots of lingering clouds and experience cooler-than-average temperatures, topping off in the 60s and low 70s for most.
A few more showers will be possible this evening, and lows will fall into the mid 50s-low 60s tonight.
The rest of this week will bring partly sunny skies, and the chance for daily pop-up showers and thunderstorm. We’ll stay cooler than normal for a while as well. Wider-spread rain looks to possibly develop again by this coming weekend. Make sure to stay tuned and catch the latest on WVVA.
Copyright 2022 WVVA. All rights reserved. | https://www.wvva.com/2022/08/16/well-have-taste-fall-today/ | 2022-08-16T11:13:12Z |
Woman, 88, killed in alligator attack while gardening
BEAUFORT COUNTY, S.C. (WTOC) - An 88-year-old woman from South Carolina is dead after she was attacked by an alligator, according to sheriff’s officials.
The Beaufort County Sheriff’s Office and other emergency services responded to the scene of an alligator attack in Sun City on Monday. They say they received a call around 11:15 a.m. reporting a large alligator near the edge of a pond in the community guarding what was believed to be a person.
Emergency services arrived and located the alligator, as well as a deceased person, WTOC reports.
According to the sheriff’s office and the South Carolina Department of Resources, the victim has been identified as 88-year-old Nancy A. Becker, of Sun City. Officials believe she was gardening near the pond and slipped into the water.
The alligator has since been removed from the pond and euthanized, according to officials.
Word of the attack spread quickly throughout the community, as some saw the large police, EMS and fire truck presence at the scene. Others said they got alerts from the sheriff’s office that there had been a fatal attack.
A sheriff’s deputy said there are around 200 lagoons and ponds in the Sun City community and that the assumption should be there are alligators in most of those bodies of water.
Several residents said they’re very aware of that constant danger and always have an eye out for alligators.
“Oh, they’re very fast, anywhere from 15 to 30 miles an hour on land, and they can climb,” Marvin Margolies said.
“You’ve got to be real careful where you walk your dogs. You don’t leave your dogs out at night,” Alan Rosenthal said.
The Department of Resources and the Beaufort County Coroner’s Office is investigating the incident.
Copyright 2022 WTOC via Gray Media Group, Inc. All rights reserved. | https://www.wvva.com/2022/08/16/woman-88-killed-alligator-attack-while-gardening/ | 2022-08-16T11:13:18Z |
Biden to sign massive climate and health care legislation
KIAWAH ISLAND, S.C. (AP) — President Joe Biden will sign Democrats’ landmark climate change and health care bill on Tuesday, delivering what he has called the “final piece” of his pared-down domestic agenda, as he aims to boost his party’s standing with voters less than three months before the midterm elections.
The legislation includes the most substantial federal investment in history to fight climate change — some $375 billion over the decade — and would cap prescription drug costs at $2,000 out-of-pocket annually for Medicare recipients. It also would help an estimated 13 million Americans pay for health care insurance by extending subsidies provided during the coronavirus pandemic.
The measure is paid for by new taxes on large companies and stepped-up IRS enforcement of wealthy individuals and entities, with additional funds going to reduce the federal deficit.
The House on Friday approved the measure on a party-line 220-207 vote. It passed the Senate days earlier with Vice President Kamala Harris breaking a 50-50 tie in that chamber.
Biden is set to sign the bill during a small ceremony in the State Dining Room of the White House, sandwiched between his return from a six-day beachside vacation in South Carolina and his departure for his home in Wilmington, Delaware. He plans to hold a larger “celebration” for the legislation on Sept. 6 once lawmakers return to Washington.
The signing caps a spurt of legislative productivity for Biden and Congress, who in three months have approved legislation on veterans’ benefits, the semiconductor industry and gun checks for young buyers. The president and lawmakers have also responded to Russia’s invasion of Ukraine and supported NATO membership for Sweden and Finland.
With Biden’s approval rating lagging, Democrats are hoping that the string of successes will jump-start their chances of maintaining control in Washington in the November midterms. The 79-year-old president aims to restore his own standing with voters as he contemplates a reelection bid.
The White House announced Monday that it was going to deploy Biden and members of his Cabinet on a “Building a Better America Tour” to promote the recent victories, though the administration has yet to announce specific travel by the president.
“In the coming weeks, the President will host a Cabinet meeting focused on implementing the Inflation Reduction Act, will travel across the country to highlight how the bill will help the American people, and will host an event to celebrate the enactment of the bill at the White House on September 6th,” the White House said in a statement.
Republicans say the legislation’s new business taxes will increase prices, worsening the nation’s bout with its highest inflation since 1981. Though Democrats have labeled the measure the Inflation Reduction Act, nonpartisan analysts say it will have a barely perceptible impact on prices.
The measure is a slimmed-down version of the more ambitious plan to supercharge environment and social programs that Biden and his party unveiled early last year.
Biden’s initial 10-year, $3.5 trillion proposal also envisioned free prekindergarten, paid family and medical leave, expanded Medicare benefits and eased immigration restrictions. That crashed after centrist Sen. Joe Manchin, D-W.Va., said it was too costly, using the leverage every Democrat has in the evenly divided Senate.
Still, Biden and Democrats are hailing the legislation as a once-in-a-generation investment in addressing the long-term effects of climate change, as well as drought in the nation’s West.
The bill will direct spending, tax credits and loans to bolster technology like solar panels, consumer efforts to improve home energy efficiency, emission-reducing equipment for coal- and gas-powered power plants, and air pollution controls for farms, ports and low-income communities.
Another $64 billion would help 13 million people pay premiums over the next three years for privately bought health insurance under the Affordable Care Act. Medicare would gain the power to negotiate its costs for pharmaceuticals, initially in 2026 for only 10 drugs. Medicare beneficiaries’ out-of-pocket prescription costs would be limited to $2,000 annually starting in 2025, and beginning next year would pay no more than $35 monthly for insulin, the costly diabetes drug.
___
Associated Press writer Alan Fram in Washington contributed to this report.
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/08/16/biden-sign-massive-climate-health-care-legislation/ | 2022-08-16T11:35:39Z |
Cheney braces for loss as Trump tested in Wyoming and Alaska
CHEYENNE, Wyo. (AP) — Wyoming Rep. Liz Cheney, a leader in the Republican resistance to former President Donald Trump, is fighting to save her seat in the U.S. House on Tuesday as voters weigh in on the direction of the GOP.
Cheney’s team is bracing for a loss against a Trump-backed challenger in the state in which he won by the largest of margins during the 2020 campaign.
Win or lose in deep-red Wyoming, the 56-year-old daughter of a vice president is vowing not to disappear from national politics as she contemplates a 2024 presidential bid. But in the short term, Cheney is facing a dire threat from Republican opponent Harriet Hageman, a Cheyenne ranching industry attorney who has harnessed the full fury of the Trump movement in her bid to expel Cheney from the House.
“I’m still hopeful that the polling numbers are wrong,” said Landon Brown, a Wyoming state representative and vocal Cheney ally. “It’ll be a crying shame really if she does lose. It shows just how much of a stranglehold that Donald Trump has on the Republican Party.”
Tuesday’s contests in Wyoming and Alaska offer one of the final tests for Trump and his brand of hard-line politics ahead of the November general election. So far, the former president has largely dominated the fight to shape the GOP in his image, having helped install loyalists in key general election matchups from Arizona to Georgia to Pennsylvania.
This week’s contests come just eight days after the FBI executed a search warrant at Trump’s Florida estate, recovering 11 sets of classified records. Some were marked “sensitive compartmented information,” a special category meant to protect the nation’s most important secrets. The Republican Party initially rallied behind the former president, although the reaction turned somewhat mixed as more details emerged.
In Alaska, a recent change to state election law gives a periodic Trump critic, U.S. Sen. Lisa Murkowski, an opportunity to survive the former president’s wrath, even after she voted to convict him in his second impeachment trial.
The top four primary Senate candidates in Alaska, regardless of party, will advance to the November general election, where voters will rank them in order of preference.
In all, seven Republican senators and 10 Republican House members joined every Democrat in supporting Trump’s impeachment in the days after his supporters stormed the U.S. Capitol as Congress tried to certify President Joe Biden’s victory.
Just two of those 10 House members have won their GOP primaries this year. The rest have lost or declined to seek reelection. Cheney would be just the third to return to Congress if she defies expectations on Tuesday.
And Murkowski is the only pro-impeachment senator running for reelection this year.
She is facing 18 opponents — the most prominent of which is Republican Kelly Tshibaka, who has been endorsed by Trump — in her push to preserve a seat she has held for nearly 20 years. Trump railed against Murkowski on social media and in her home state of Alaska, where he hosted a rally with Tshibaka last month in Anchorage.
In contrast to vulnerable Republican candidates who cozied up to Trump in other states this summer, Murkowski continues to promote her bipartisan credentials.
“When you get the ideas from both sides coming together, little bit of compromise in the middle, this is what lasts beyond administrations, beyond changes in leadership,” the Republican senator said in a video posted on social media over the weekend. “This is what allows for stability and certainty. And it comes through bipartisanship.”
On the other side of the GOP’s tent, Sarah Palin, the former Alaska governor and vice-presidential nominee, hopes to spark a political comeback on Tuesday.
Endorsed by Trump, she finished first among 48 candidates to qualify for a special election seeking to replace Rep. Don Young, who died in March at age 88, after 49 years as Alaska’s lone House member. Palin is actually on Tuesday’s ballot twice: once in a special election to complete Young’s term and another for a full two-year House term starting in January. She’s running against Republican Nick Begich and Democrat Mary Peltola in the special election and a larger field in the primary.
Ever an outsider, Palin spent recent days attacking Murkowski, a fellow Republican, and those who instituted the open primary and ranked-choice voting system in 2020.
“I’ve said all along that ranked-choice voting was designed to benefit Democrats and RINOs, specifically Sen. Lisa Murkowski (who stood no chance of winning a Republican nomination) along with other political dynasty family members in Alaska,” Palin wrote in a recent statement calling for the law’s repeal.
Back in Wyoming, Cheney’s political survival may depend upon persuading enough Democrats to cast ballots in her Republican primary election. While some Democrats have rallied behind her, it’s unclear whether there are enough in the state to make a difference. Biden earned just 26% of Wyoming’s vote in 2020.
Many Republicans in the state — and in the country — have essentially excommunicated Cheney because of her outspoken criticism of Trump. The House GOP ousted her as the No. 3 House leader last year. And more recently, the Wyoming GOP and Republican National Committee censured her.
Anti-Trump groups such as U.S. Rep. Adam Kinzinger’s Country First PAC and the Republican Accountability Project have worked to encourage independents and Democrats to support Cheney in recent weeks. They are clearly disappointed by the expected outcome of Tuesday’s election, although some are hopeful about her political future.
“What’s remarkable is that in the face of almost certain defeat she’s never once wavered,” said Sarah Longwell, executive director of the Republican Accountability Project. “We’ve been watching a national American figure be forged. It’s funny how small the election feels — the Wyoming election — because she feels bigger than it now.”
Cheney has seemingly welcomed defeat by devoting almost every resource at her disposal to ending Trump’s political career since the insurrection.
She emerged as a leader in the congressional committee investigating Trump’s role in the Jan. 6 attack, giving the Democrat-led panel genuine bipartisan credibility. She has also devoted the vast majority of her time to the committee instead of the campaign trail back home, a decision that still fuels murmurs of disapproval among some Wyoming allies. And she has closed out the primary campaign with an unflinching anti-Trump message.
“In our nation’s 246-year history, there has never been an individual who was a greater threat to our republic than Donald Trump,” former Vice President Dick Cheney said in a recent ad produced by his daughter’s campaign.
He continued, “There is nothing more important she will ever do than lead the effort to make sure Donald Trump is never again near the Oval Office.”
Copyright 2022 The Associated Press. All rights reserved. | https://www.whsv.com/2022/08/16/cheney-braces-loss-trump-tested-wyoming-alaska/ | 2022-08-16T11:35:46Z |
Explosions refocus war in Ukraine on Russian-annexed Crimea
KYIV, Ukraine (AP) — Massive explosions and fires hit a military depot in Russia-annexed Crimea on Tuesday, forcing the evacuation of more than 3,000 people, the second time in recent days that the Ukraine war’s focus has turned to the contested peninsula.
Russia blamed the blasts at an ammunition storage facility in Mayskoye on an “act of sabotage” without naming the perpetrators. As with last week’s explosions, they led to speculation that Ukrainian forces may have staged an attack on the peninsula, which Russia has controlled since 2014.
Separately, the Russian business newspaper Kommersant quoted local residents as saying that plumes of black smoke also rose over an air base in Crimea’s Gvardeyskoye.
Ukraine has stopped short of publicly claiming responsibility for any of the fires or explosions, including last week’s at another air base that destroyed nine Russian planes. If Ukrainian forces were, in fact, responsible for any of the explosions, they would represent a significant escalation in the war.
Videos posted on social media showed thick plumes of smoke rising over raging flames in Mayskoye, and a series of explosions could be heard in the background. The Russian Defense Ministry said the fires at the depot caused damage to a power plant, power lines, rail tracks and some apartment buildings. It said in a statement that “there were no serious injuries.”
Earlier, Russia’s state news agency RIA Novosti reported a fire a transformer substation after “a loud thump sound” in what appeared to be a result of the blasts at the depot.
Crimea holds huge strategic and symbolic significance for Russia and Ukraine. The Kremlin’s demand that Kyiv recognize the peninsula as part of Russia has been one of its key conditions for ending the fighting, while Ukraine has vowed to drive the Russians from the peninsula and all other occupied territories.
The district where the blasts happened, Dzhankoi, is in the north of the peninsula, about 50 kilometers (30 miles) from the Russian-controlled region of Kherson in southern Ukraine. Kyiv has recently mounted a series of attacks on various sites in the region, targeting supply routes for the Russian military there and ammunition depots.
Last week’s explosions at Saki air base sent sunbathers on nearby beaches fleeing as huge flames and pillars of smoke rose over the horizon. Ukrainian officials emphasized Tuesday that Crimea — which is a popular destination for Russian tourists — would not be spared the ravages of war experienced throughout Ukraine.
Rather than a travel destination, “Crimea occupied by Russians is about warehouses explosions and high risk of death for invaders and thieves,” Ukraine presidential adviser Mykhailo Podolyak said on Twitter, though he did not claim any Ukraine responsibility for the blasts.
Crimea’s regional leader, Sergei Aksyonov, said that two people were injured and more than 3,000 evacuated from the villages of Mayskoye and Azovskoye near Dzhankoi following the munitions depot explosions. who can we attribute the injured to?
Because the explosions damaged rail tracks, some trains in northern Crimea were diverted to other lines.
The Russian military blamed last week’s blasts at the Saki air base on an accidental detonation of munitions there, but it appeared to be the result of a Ukrainian attack.
Graphic Warning: The following video may include disturbing content
Ukrainian officials at the time stopped short of publicly claiming responsibility for the explosions, while mocking Russia’s explanation that a careless smoker might have caused the ammunition to catch fire. Analysts also said that explanation doesn’t make sense and that the Ukrainians could have used anti-ship missiles to strike the base.
A British Defense Ministry intelligence update said vessels in Russia’s Black Sea Fleet “continue to pursue an extremely defensive posture” in the waters off Crimea, with the ships barely venturing out of sight of the coastline.
Russia already lost its flagship Moskva in the Black Sea and last month the Ukrainian military retook the strategic Snake Island outpost off Ukraine’s southwestern coast. It is vital for guaranteeing sea lanes out of Odesa, Ukraine’s biggest port.
The Russian fleet’s “limited effectiveness undermines Russia’s overall invasion strategy,” the British statement said. “This means Ukraine can divert resources to press Russian ground forces elsewhere.”
Meanwhile, in the Donbas, which has been the focus of the fighting in recent months, one civilian was killed in Russian shelling, and two others wounded, according to the Ukrainian governor of the Donetsk region, Pavlo Kyrylenko.
In Kharkiv, Ukraine’s second-largest city, one civilian was killed and nine others were wounded by Russian shelling, regional governor Oleh Syniehubov said. He added that the overnight attack on the city was “one of the most massive shelling of Kharkiv in recent days.”
Officials in the central region of Dniprotpetrovsk also reported shelling of the Nikopol and the Kryvyi Rih districts.
___
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/2022/08/16/explosions-refocus-war-ukraine-russian-annexed-crimea/ | 2022-08-16T11:35:57Z |
Multiple people hurt in Memphis hospital shooting, police say
Published: Aug. 16, 2022 at 6:50 AM EDT|Updated: 45 minutes ago
MEMPHIS, Tenn. (WMC/Gray News) - Multiple people were injured overnight after a shooting at a Memphis hospital.
Memphis Police Department confirmed the shooting happened at Methodist North Hospital on Covington Pike around 12:47 a.m. Tuesday. It is unclear if it happened inside or outside the hospital.
Dispatch also couldn’t specify how many victims were shot.
A vehicle was seen at the hospital riddled with bullet holes.
Other media reports indicate that a second crime scene was at a gas station, where a rifle could be seen on the ground, the Associated Press reported.
No suspect information is available at this time.
Copyright 2022 WMC via Gray Media Group, Inc. All rights reserved. The Associated Press contributed to this report. | https://www.whsv.com/2022/08/16/multiple-people-hurt-memphis-hospital-shooting-police-say/ | 2022-08-16T11:35:59Z |
Woman, 88, killed in alligator attack while gardening
BEAUFORT COUNTY, S.C. (WTOC) - An 88-year-old woman from South Carolina is dead after she was attacked by an alligator, according to sheriff’s officials.
The Beaufort County Sheriff’s Office and other emergency services responded to the scene of an alligator attack in Sun City on Monday. They say they received a call around 11:15 a.m. reporting a large alligator near the edge of a pond in the community guarding what was believed to be a person.
Emergency services arrived and located the alligator, as well as a deceased person, WTOC reports.
According to the sheriff’s office and the South Carolina Department of Resources, the victim has been identified as 88-year-old Nancy A. Becker, of Sun City. Officials believe she was gardening near the pond and slipped into the water.
The alligator has since been removed from the pond and euthanized, according to officials.
Word of the attack spread quickly throughout the community, as some saw the large police, EMS and fire truck presence at the scene. Others said they got alerts from the sheriff’s office that there had been a fatal attack.
A sheriff’s deputy said there are around 200 lagoons and ponds in the Sun City community and that the assumption should be there are alligators in most of those bodies of water.
Several residents said they’re very aware of that constant danger and always have an eye out for alligators.
“Oh, they’re very fast, anywhere from 15 to 30 miles an hour on land, and they can climb,” Marvin Margolies said.
“You’ve got to be real careful where you walk your dogs. You don’t leave your dogs out at night,” Alan Rosenthal said.
The Department of Resources and the Beaufort County Coroner’s Office is investigating the incident.
Copyright 2022 WTOC via Gray Media Group, Inc. All rights reserved. | https://www.whsv.com/2022/08/16/woman-88-killed-alligator-attack-while-gardening/ | 2022-08-16T11:36:10Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- Today, Inc. revealed that OUTWARD HOUND is No. 3656 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy's most dynamic segment—its independent businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
"We are excited to be recognized among some of the best companies in the country for a second time," said Outward Hound CEO Michael Black. "To be acknowledged as one of the fastest-growing private companies in America during these challenging times underscores our team's hard work and commitment to serving families and their pets worldwide."
The companies on the 2022 Inc. 5000 have not only been successful, but have also demonstrated resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19. Among the top 500, the average median three-year revenue growth rate soared to 2,144 percent. Together, those companies added more than 68,394 jobs over the past three years.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, which will be available on August 23.
"The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated," says Scott Omelianuk, editor-in-chief of Inc. "Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today."
Outward Hound® is a Prospect Hill Growth Partners Portfolio Company that is an award-winning innovator, creator, manufacturer, and distributor of the highest quality toys, games, gear, and feeders for dogs and cats. The company's portfolio of brands includes Outward Hound, Planet Dog, Petstages, Wholesome Pride Pet Treats, Best Friends by Sheri, and Nina Ottosson puzzle toys. Outward Hound is headquartered outside of Denver in Centennial, CO. For more, visit OutwardHound.com and follow @OutwardHound on Instagram.
CONTACT:
Michael Parness
Michael.parness@outwardhound.com
More about Inc. and the Inc. 5000
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine's September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000.
The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, visit http://conference.inc.com/.
View original content to download multimedia:
SOURCE Outward Hound | https://www.whsv.com/prnewswire/2022/08/16/2nd-year-row-outward-hound-appears-inc-5000-ranking-no-3656/ | 2022-08-16T11:36:19Z |
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- Today, Inc. revealed that Compliancy Group has earned a spot on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy's most dynamic segment—its independent businesses.
"We strive to grow each year, adding to our product automation, features, and functionality, and exploring new regulatory markets to become a one-stop shop for compliance. Being honored on the Inc. 5000 list for the third consecutive year cements our place as the best compliance solution on the market. Thanks to our clients and partners for their continued trust, and to our employees for transforming us from a by the bootstraps business to a thriving company through their hard work, grit, and dedication." - Marc Haskelson, President and CEO, Compliancy Group.
The companies on the 2022 Inc. 5000 have not only been successful, but have also demonstrated resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19.
"The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated," says Scott Omelianuk, editor-in-chief of Inc. "Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today."
About Compliancy Group
Using automated software and dedicated Compliance Coaches, Compliancy Group removes the complexities and stress of HIPAA. They give healthcare professionals confidence in their compliance plan, increasing client loyalty and profitability of their business while reducing risk. Get compliant today!
HIPAA Resources:
Why Compliancy Group
Become a Partner
HIPAA Compliance Checklist
More about Inc. and the Inc. 5000
Methodology
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. Growth rates used to determine company rankings were calculated to four decimal places. The entire Inc. 5000 can be found at http://www.inc.com/inc5000.
About Inc.
The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its prestigious Inc. 5000 list, analyzes company data to recognize the fastest-growing privately held businesses in the United States. For more information, visit www.inc.com.
View original content to download multimedia:
SOURCE Compliancy Group | https://www.whsv.com/prnewswire/2022/08/16/3rd-time-compliancy-group-appears-inc-5000/ | 2022-08-16T11:36:20Z |
Electronic Transaction Consultants has been notified of an "intent to award" a contract to deliver the next-generation express lane toll collection system to support the Alameda County Transportation Commission
TORONTO, Aug. 16, 2022 /PRNewswire/ - Quarterhill Inc. ("Quarterhill") (TSX: QTRH) (OTCQX: QTRHF), announces that the Alameda County Transportation Commission ("Alameda CTC") has announced its final ranking notification and "intent to award" Electronic Transaction Consultants, LLC ("ETC"), a Quarterhill company, a contract for the implementation and operation of the electronic toll system integration services for the express lanes operated by Alameda CTC. This award remains subject to the negotiation and finalization of a definitive contract including all customary terms. ETC expects the initial term of the contract to be ten (10) years with options for up to four additional years of operations and maintenance.
Over the course of the expected contract, ETC will deliver system replacements at the Alameda CTC I-680 Express Lane facilities, and potentially other Express Lane facilities, implementing ETC's next-generation express lane toll management system to improve mobility and alleviate congestion along the corridor.
"ETC is honored and excited to be selected as Alameda CTC's technology provider," stated ETC's Chief Executive Officer Kevin Holbert. "Technology-savvy motorists from the region will expect nothing less than the most advanced systems in the industry and the highest quality of customer service, and ETC is poised to deliver both, in a true partnership with the Commission. As an industry leader, ETC systems are architected for responsiveness to changing business needs by integrating seamlessly with the latest in open-source technologies and big data infrastructure, for a lean system that will remain technology relevant for years to come."
The Alameda County Transportation Commission (Alameda CTC) coordinates countywide transportation planning and delivers essential, voter-supported transportation improvements in every city throughout Alameda County. The funding source for Alameda CTC's expenditure plan is Measure BB, approved by more than 70 percent of voters in 2014. Visit Alameda CTC's website to learn more, www.alamedactc.org.
ETC is a leading U.S. intelligent transportation systems provider, developing and delivering best in class solutions for tolling, congestion management, smart mobility, and multimodal transportation initiatives. ETC's passionate and innovative team has been driving the future of mobility since 1999, with a number of industry firsts, including all electronic tolling (AET), dynamic pricing, agency interoperability, hosted mobility solutions and machine learning.
For over two decades, ETC has delivered sophisticated solutions to many of the U.S.'s largest toll authorities, including state-wide programs, county networks and tolling-specific authorities. ETC's solutions process over two billion transactions annually totaling over $3 billion in revenues for our customers, incorporating the latest in evergreen open-source and SaaS technologies and Big Data architecture through our innovative riteSuite™ products.
Quarterhill is a leading provider of tolling and enforcement solutions in the Intelligent Transportation System (ITS) industry, as well as, through its Wi-LAN Inc. subsidiary, a leader in Intellectual Property licensing. Our goal is global leadership in ITS, via organic growth of the Electronic Transaction Consultants, LLC (ETC) and International Road Dynamics, Inc. (IRD) platforms, and by continuing an acquisition-oriented investment strategy that capitalizes on attractive growth opportunities within ITS and its adjacent markets. Quarterhill is listed on the TSX under the symbol QTRH and on the OTCQX Best Market under the symbol QTRHF. For more information, visit www.quarterhill.com
This news release contains forward-looking statements regarding ETC, Quarterhill and their businesses. Forward-looking statements are based on estimates and assumptions made by ETC and/or Quarterhill in light of their experience and perception of historical trends, current conditions, expected future developments and the expected effects of new business strategies, as well as other factors that ETC and/or Quarterhill believe are appropriate in the circumstances. The forward-looking events and circumstances discussed herein may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting ETC and/or Quarterhill, including: potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus ("COVID-19"); the severity of the disease; the duration of the COVID-19 outbreak; actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact; the potential negative impacts of COVID-19 on the global economy and financial markets and any resulting impact on ETC and/or Quarterhill and/or their businesses. Other factors include, without limitation, the risks described in Quarterhill's March 11, 2021 annual information form for the year ended December 31, 2020 (the "AIF"). Copies of the AIF may be obtained at www.sedar.com. ETC and Quarterhill recommend that readers review and consider all of these risk factors and notes that readers should not place undue reliance on any of ETC's forward-looking statements. ETC has no intention, and undertakes no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
View original content:
SOURCE Quarterhill Inc. | https://www.whsv.com/prnewswire/2022/08/16/alameda-ctc-issues-an-intent-award-electronic-transaction-consultants-contract-electronic-toll-system-integration/ | 2022-08-16T11:36:25Z |
VANCOUVER, BC, Aug. 16, 2022 /PRNewswire/ - Trilogy Metals Inc. (TSX: TMQ) (NYSE American: TMQ) ("Trilogy", "Trilogy Metals" or "the Company") announces that on August 12, 2022, Ambler Metals LLC ("Ambler Metals"), the joint venture operating company equally owned by Trilogy and South32 Limited (ASX: S32) (LSE: S32) (JSE: S32) (ADR: SOUHY) ("South32"), hosted a site visit for Chiefs from the Doyon region and NANA region tribal leadership.
Ambler Metals' full news release is below.
Ambler Metals Hosts Doyon Region Tribal Chiefs and NANA Region Tribal Presidents
August 12, 2022 – Anchorage, Alaska – As part of exploration efforts to develop its sizable holdings in the Ambler Mining District in Alaska, Ambler Metals is investing in one of its most important partnerships; the surrounding communities of the Arctic and Bornite project sites. Recently Ambler hosted a site visit for Chiefs from the Doyon region and NANA region tribal leadership.
The site visit provided an excellent opportunity for open dialogue and fostered important discussions related to the project's positive impact throughout local economies. Tribal leaders were able to experience first-hand a wide variety of work that is being conducted by shareholders and expand their understanding of the long-term benefits of workforce development spanning exploration, construction, operations, reclamation, and closure.
"One of our core values is respect – for people, the land, the culture and the environment," says Ramzi Fawaz, President and CEO, Ambler Metals.
"There is no better way to learn from one another than to spend time in conversation, listening, gaining knowledge from the long-time stewards of the land, and working together toward common goals."
The tribal leaders held a private roundtable discussion in conjunction with the site visit. Their future engagement and input will help significantly shape the project so that the land and people of the region can continue to thrive in traditional ways, while bringing new economic opportunities to the area. The project has the potential to provide hundreds of jobs throughout its lifetime, lower transportation costs of fuel and other supplies, and fund essential government services in a remote region of the Arctic.
"One of the main economic pillars of our region's economy is based around responsible resource development," says Ely Cyrus, President of the Kiana tribe.
"As President of the tribe in Kiana, I feel it is important to work together as tribal leaders. Conversations such as this have the potential to inform and empower our tribes on ways to provide a path for employment for our people and is a forum for our voices to be heard on the importance of subsistence resources and lands," adds Cyrus.
"There are tremendously positive takeaways from this site visit, and I would like to extend my sincere appreciation to the tribal Chiefs and Presidents from both regions for sharing their expertise and expanding our relationships," says Fawaz.
From the Doyon region: Chief Harding Sam – Alatna; Chief Lawrence Williams – Allakaket; and Chief Wilmer Beetus – Hughes.
From the NANA region: President Miles Cleveland – Ambler; Gena Linus (council member) – Kobuk; President Fred Sun – Shungnak; President Ely Cyrus – Kiana; and Linda Lee – Shungnak.
Trilogy Metals Inc. is a metals exploration and development company which holds a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the UKMP in northwestern Alaska. On December 19, 2019, South32, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide ("VMS") deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization. Exploration efforts have been focused on two deposits in the Ambler mining district - the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within a land package that spans approximately 181,387 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy's vision is to develop the Ambler Mining District into a premier North American copper producer.
View original content:
SOURCE Trilogy Metals Inc. | https://www.whsv.com/prnewswire/2022/08/16/ambler-metals-trilogy-metals-jv-company-hosts-site-visit-doyon-region-tribal-chiefs-nana-region-tribal-presidents/ | 2022-08-16T11:36:31Z |
Mary Harcourt of CosmoGlo LLC. - "Innovation is important to the core of all societies. We're excited to announce the Italian courts have enforced our patent against willful infringement of the CosmoGlo™️ Light. This is a celebratory step forward for American manufacturing and product innovation."
BASTROP, Texas, Aug. 16, 2022 /PRNewswire/ -- CosmoGlo, LLC. pioneered a luxury, modern-looking curved light that provides even lighting. Trusted by experts in the field of aesthetics and used by service professionals, CosmoGlo was designed by Mary Harcourt, an established beauty professional. CosmoGlo has been awarded Design patents globally including in the USA, AUS, UK, and EU.
Judge Dott. Alberto La Manna of the Turin Italian Business Court on March 10th, 2022 announced intent to uphold Cosmolo's patent in court injunction case 19348/2021. The invention claimed in this patent lawsuit is fundamental to the aesthetics industry. The defendant was found liable for willful infringement upon CosmoGlo's design patent no. 008486203-0001. The ruling upholds CosmoGlo's right to protect its products, designs, and their fair use.
Mary Harcourt of CosmoGlo said in response to the ruling,
Innovation takes effort, capital, and vision, and is important to the core of all societies. On behalf of the CosmoGlo development department, operations teams, and legal teams, I am excited to announce that the EU Courts have enforced our patent. This ruling provided legal protection for the countless hours, dollars, and resources committed to bringing forth new innovation. I appreciate the EU for their support.
The judge Judge Dott. Alberto La manna stated,
The grievance of the applicant in relation to the infringement of its model must be considered well-founded since the confusion between the two products is evident in an overall evaluation. The proposed request must therefore be considered well-founded and deserves acceptance.
Consequently, the defendant must be prevented from producing and marketing the Moon Light Lamp with a consequent order to withdraw the products described from the market and to fix the penalty for the violation of this provision… The expenses follow the loss and are paid according to the disposition.
Manufactured in the USA CosmoGlo Light™️ provides full coverage rotational lighting that eliminates shadows with customizable brightness. Visit www.thecosmoglo.com or https://thecosmoglo.com/pages/media
CONTACT: Mary Harcourt, CosmoGlo Founder + CEO
EMAIL: Media@TheCosmoglo.com
PHONE: 717-683-6038
View original content to download multimedia:
SOURCE CosmoGlo | https://www.whsv.com/prnewswire/2022/08/16/american-startup-company-celebrates-win-inventors-who-plan-change-world/ | 2022-08-16T11:36:40Z |
TEL AVIV, Israel, Aug. 16, 2022 /PRNewswire/ -- Arbe Robotics Ltd. (Nasdaq: ARBE) ("Arbe"), a global leader in next-generation 4D Imaging Radar Solutions, today announced financial results for its second quarter ended June 30, 2022.
Key Q2 2022 Highlights:
- HiRain Technologies, the leading Chinese ADAS Tier 1 supplier, declared that it is undertaking major OEM and autonomous driving projects with Imaging Radars based on Arbe's chipset, and announced it will reach mass production by 2023.
- Arbe added two new customer engagements in Q2, including a truck OEM that is a leader in Level 2+ truck design, and a new mobility player focusing on Level 4 vehicles.
- Tier 1s submitted five requests for proposal (RFPs) and requests for quotation (RFQs) with Arbe's chipset to major OEMs, committing to supplying the customer with volumes ranging from 400 thousand to 1 million systems per year.
- Arbe is shortlisted in 8 RFPs / RFQs that bring total potential revenues to $7.5B by the end of the decade.
- GlobalFoundries completed the chipset testing setup toward mass production of Arbe's chipset, delivered the first significant customer samples shipment, and signed a long-term manufacturing agreement with Arbe.
- Introduced Lynx, an industry-first Surround Imaging Radar, fulfilling the strong market demand for 360° long-range, high-resolution sensing at an affordable price. Designed for multiple installations around the vehicle – as a corner and a back radar for L2+ and higher autonomous vehicles, and even as a front radar for ADAS - Lynx represents a new and lucrative opportunity for Arbe.
- Arbe shareholders extended their lock-up period with respect to their shares. Arbe believes this demonstrates the shareholders' confidence in the long-term potential of Arbe's business and its ability to execute on the opportunities ahead.
"During the second quarter, we reached a major milestone with our strategic partner and chip manufacturer, GlobalFoundries, who completed the setup of the Arbe chipset testing facility, thus marking significant progress toward mass production," said Kobi Marenko, Arbe's Chief Executive Officer. "GlobalFoundries and Arbe signed a long-term strategic manufacturing agreement that addresses quality assurance, assembly and testing, which we believe will secure the quality and capacity necessary to meet our customer commitments."
Marenko added, "As we enter the second half of 2022, we are shifting our focus to production and execution. We believe that the launch of our new product, Lynx Surround Imaging Radar, represents a tremendous business opportunity for Arbe as well as for our Tier 1 strategic partners. In addition, the HiRain Technologies production timeline announcement, coupled with the progress achieved by all Arbe Tier 1s, is providing Arbe with a strong position ahead of all other industry players."
Second Quarter 2022 Financial Highlights
Revenues for Q2 2022 were $1.2 million, an increase from $0.5 million in Q2 2021. Backlog as of June 30, 2022, was $1.5 million. Gross margin in Q2 2022 was 72.8%, compared to 31.9% in Q2 2021, mainly related to economy of scale and a decrease in cost as we worked toward production version.
Operating expenses in Q2 2022 were $13.0 million, compared to $6.9 million in Q2 2021. The increase in operating expenses was primarily driven by an increase in research and development expenses from $5.8 million in Q2 2021 to $9.5 million in Q2 2022. The increase was most notably in labor cost and non-cash share-based compensation expenses, and to a lesser extent, an increase in our material and subcontractors cost supporting our research and development efforts. Additionally, the increase in Sales, General and Administration expenses was associated with Arbe being a publicly traded corporation and to the non-cash share-based compensation expenses. As a result, our operating loss increased from $6.7 million to $12.1 million.
Adjusted EBITDA in Q2 2022, a non-GAAP measurement which excludes share-based compensation and non-recurring public offering expenses relating to our business combination with ITAC, yielded a loss of $9.5 million, compared to a loss of $6.4 million in Q2 2021.
Net loss in Q2 2022 was $11.6 million, compared to a net loss of $10.6 million in Q2 2021. The net loss in Q2 2022 included financial income of $0.5 million as contrasted with financial expenses of $3.9 million in Q2 2021. Q2 2022 financial income resulted from the revaluation of warrants partially offset with exchange rate revaluations and financial interest.
Balance Sheet & Liquidity
As of June 30, 2022, Arbe had $71.3 million in cash and cash equivalents with no debt.
Outlook
Management reiterated the outlook for the full year ending December 31, 2022. Based on current estimates, management expects:
- Revenues to be in the range of $7 million to $11 million, heavily weighted toward the end of the year, when some of the projects are expected to mature
- Adjusted EBITDA to be in the range of ($34 million) and ($38 million)
- The company is on track to reach its $312 million revenue goal for 2025
Conference Call & Webcast Details
Arbe will host a conference call and webcast today at 8:30 am ET. Speakers will include Kobi Marenko, Chief Executive Officer, Co-Founder and Director, and Karine Pinto-Flomenboim, Chief Financial Officer. The Company encourages participants to pre-register for the conference call here. Callers will receive a unique dial-in upon registration, which enables immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.
The live call may be accessed via:
U.S. Toll Free: (833) 316-0562
International: (412) 317-5736
A telephonic replay of the conference call will be available until Aug. 30, 2022, following the end of the conference call. To listen to the replay, please dial:
U.S. Toll Free: (877) 344-7529
International: (412) 317-0088
Access ID: 7616586
A live webcast of the call can be accessed here or from Arbe's Investor Relations website at https://ir.arberobotics.com/news/ir-calendar. An archived webcast of the conference call will also be made available on the website following the call.
About Arbe
Arbe (Nasdaq: ARBE), the global leader in Perception Radar Chipset Solutions, is spearheading a revolution in sensing, enabling truly safe driver-assist systems today while paving the way to full autonomous-driving. A critical sensor for L2+ and higher autonomy, Arbe solutions are 100 times more detailed than the most advanced radars on the market, providing full sensing coverage around the vehicle. Arbe has been selected by leading Tier 1s and car manufacturers to deliver advanced sensing and paradigm-changing perception to a wide range of vehicles and applications across the U.S., Europe, and Asia. Arbe is a leader in the fast-growing automotive radar market that has a projected total addressable market of $11 billion in 2025. For more information, visit https://arberobotics.com/
Cautionary Note Regarding Forward-Looking Statements
This press release and the earnings call 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," "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 and, as a result, are subject to risks and uncertainties. The financial results described in this press release are based on Arbe's preliminary financial statements, which are subject to audit by the Company's independent accounting firm and are subject to any adjustments resulting from the completion of such audit. These risks and uncertainties include, but are not limited to: (i) unanticipated delays or difficulties in connection with the evaluation of Arbe's products in evaluation and test programs; (ii) Arbe's ability to have products manufactured for it by third parties that meet Arbe's and its customers quality standards and delivery requirements;; (iii) Arbe's ability to leverage its existing relationships and secure orders resulting from the test programs; (iv) Arbe's ability to meet its projected revenue level and its ability to operate profitably; (v) Arbe's ability to meet is timetable for full production; (vi) Arbe's expectation that it will be obtain orders from Tier 1 suppliers and OEMs which would be building the radars based on its Chipset solution; (vii) the effect of inflation and supply chain issues on Arbe's cost and its development schedule, including Arbe's ability to obtain semiconductor products when needed and at a reasonable price; (viii) Arbe's ability to price its products in a manner to enable it to operate profitably; (ix) Arbe's expectation that radars are crucial to the automotive industry and will be deployed in nearly all new vehicles as a long range, cost-effective sensor with the fewest environmental limitations; (x) Arbe's belief that the Arbe Radar Chipset heralds a breakthrough in radar technology that provide Tier 1 suppliers and OEMs to replace the current radars with an advanced solution that meets the safety requirements of Euro-NCAP and NHTSA for autonomous vehicles at all levels of autonomous driving; (xi) Arbe's ability to develop or have access to the latest developments relating to radar and autonomous driving vehicles; (xii) Arbe's ability to attract and retain highly skilled personnel and senior management, including research and development, sales and marketing personnel; (xiii) Arbe's ability to develop and market products based on its radar technology for uses outside of the automotive industry; (xiv) accidents or bad press resulting from accidents involving autonomous driving vehicles, even those using radar products from other companies or based on other technology and the effect of any accidents with vehicles using Arbe's radar system; (xv) the failure of the markets for Arbe's current or new technologies and products to materialize to the extent or at the rate that Arbe expects; (xvi) unexpected delays or difficulties related to the development of Arbe's technologies and products; (xvii) the effect of laws and changes in laws that have an effect on the market for or the requirement for autonomous vehicles; (xviii) the effect of COVID-19 and any new variants or any pandemics or multinational epidemics and actions taken by governments and industry to address the effects of the pandemic and the corresponding macroeconomic uncertainty; (xix) changes or inaccuracies in market projections; (xx) changes in Arbe's business strategy; and (xxi) the risk and uncertainties described in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Cautionary Note Regarding Forward-Looking Statements" and the additional risk described in Arbe's Annual Report on Form 20-F, filed with the Securities and Exchange Commission, or SEC, on March 31, 2022 and in Arbe's prospectus dated June 22, 2022, which was filed by Arbe with the SEC on June 23, 2022, and its prospectus dated July 11, 2022, which was field by Arbe with the SEC on July 19, 2022, as well as 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.
Information contained on, or that can be accessed through, our website or any other website is expressly not incorporated by reference into and is not a part of this press release.
Logo - https://mma.prnewswire.com/media/803813/Arbe_Robotics_Logo.jpg
View original content:
SOURCE Arbe | https://www.whsv.com/prnewswire/2022/08/16/arbe-announces-q2-2022-financial-results/ | 2022-08-16T11:36:47Z |
SANTA CLARA, Calif., Aug. 16, 2022 /PRNewswire/ -- Today, Inc. revealed that Aviatrix, the pioneer of secure cloud networking, is No. 711 on its annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy's most dynamic segment—its independent businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
"The cloud market is already massive, yet it's only in its infancy," said Steve Mullaney, CEO at Aviatrix. "As cloud adoption continues its exponential growth, there is an incredible opportunity for those who enable the enterprise to take full advantage of it. Aviatrix is quickly becoming the architectural standard for cloud networking, an essential component of any cloud initiative. As our category grows, we will grow, moving up this list and others like it."
The companies on the 2022 Inc. 5000 have not only been successful, but have also demonstrated resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19.
"The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated," says Scott Omelianuk, editor-in-chief of Inc. "Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today."
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000.
Aviatrix, the pioneer of secure cloud networking, delivers advanced cloud networking, network security, and operational visibility required by enterprises with cloud-native simplicity and automation. More than 600 customers worldwide, including 63 of the Fortune 500, leverage Aviatrix and its proven multi-cloud network reference architecture to design, deploy, and operate a repeatable network and security architecture that is consistent across any public cloud. Combined with the industry's first and only multi-cloud networking certification program (ACE), Aviatrix is empowering IT to lead and accelerate the transformation to the cloud. Learn more at Aviatrix.com.
Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine's September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000.
The world's most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
View original content to download multimedia:
SOURCE Aviatrix | https://www.whsv.com/prnewswire/2022/08/16/aviatrix-named-one-2022-inc-5000-fastest-growing-private-companies-america/ | 2022-08-16T11:36:54Z |
The DTC home wellness brand is recognized as 6th fastest growing company in New York
NEW YORK, Aug. 16, 2022 /PRNewswire/ -- Inc. Magazine today revealed that Bearaby, the sustainable home wellness brand dedicated to design-forward products for mental, emotional, and physical wellbeing, is No. 82 on its annual Inc. 5000 list, with three-year revenue growth of over 5,500%. The prestigious list, which has included previous winners such as Under Armour, CLIF Bar, and Patagonia, ranked Bearaby 5th in consumer products and 6th in New York City.
Bearaby launched in 2018 with its patented flagship Napper, a first-of-its-kind knitted weighted blanket made of organic cotton. The brand's completely sustainable, plastic-free blanket created a new product category, disrupting a 30-year old industry laden with artificial fillers and synthetics detrimental to the earth and introducing a design-forward, breathable alternative. Since launch, Bearaby has experienced significant growth, nearly tripling its team, expanding into new product categories, and securing multiple patents on its innovative weighted blanket.
"We are thrilled to be included on the 2022 Inc. 5000 list and are humbled to receive this award among such great company," said Kathrin Hamm, Bearaby Founder and CEO. "Our continued growth is a testament to our loyal community and the incredible work of our team to destigmatize sleep and champion innovation and sustainability."
Most recently, Bearaby launched the Hugget, a planet-friendly sensory knot pillow aimed to deliver stress-relieving benefits. Each stylish and sustainable Hugget is designed in Bearaby's signature chunky knit style, and crafted from the brand's latest material innovation, Melofoam™, an all-natural, breathable, fully biodegradable responsive rubber made from sap tapped directly from rubber trees. The zero-waste process creates a pillow that is entirely compostable, continuing Bearaby's legacy of products with a fully eco-friendly life-cycle.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. For more information on Bearaby, visit www.bearaby.com.
About Bearaby
Bearaby is a joyful, sustainable wellness brand on a mission to create a calmer, more comforted world: one nap at a time. Every Bearaby product prioritizes holistic wellbeing, sustainability, and exceptional design to bring about revolutionary rest, naturally. To experience Bearaby, please visit www.bearaby.com or @mybearaby on Instagram.
View original content to download multimedia:
SOURCE Bearaby | https://www.whsv.com/prnewswire/2022/08/16/bearaby-ranks-82nd-2022-inc-5000-list/ | 2022-08-16T11:37:00Z |
Beltone Achieve™ offers surround sound for a more natural hearing experience, while the Beltone Imagine™ Custom Completely-In-Canal (CIC) offers a discreet, simple hearing solution
GLENVIEW, Ill., Aug. 16, 2022 /PRNewswire/ -- Beltone, named America's #1 Hearing Care Retailer by Newsweek, debuted two new hearing aids today, Beltone Achieve and Beltone Imagine Custom CIC. These hearing aids were designed and engineered with advanced hearing technology to offer more benefits to users so hearing loss doesn't have to slow them down.
"Our goal is to encourage more people to treat their hearing loss sooner as there are options available for everyone, which is why we continue to create a strong portfolio of solutions," explains Beltone President, Mike Halloran. "As hearing aid technology evolves, we continue to listen to the requests of our patients and independent practice owners to address their needs and are excited to be able to offer two innovative new hearing solutions that fit these demands."
While many traditional hearing aids limit overall awareness of sound by focusing mainly on the sound in front of the hearing aids when moving into a noisy environment, the new Beltone Achieve hearing aids use surround sound to help patients hear what is happening in front, back, above and below. Featuring best in class technology, Beltone Achieve provides the ultimate natural hearing experience for those with mild-to-severe hearing loss along with seamless connectivity to wireless devices, up to 30 hours of battery life on a single charge, all-day comfort, and are weather and sweatproof for active lifestyles. Additionally, the surround sound provided by the hearing aids helps improve situational awareness so you can feel confident and tuned in to what is happening around you and make the most of each day.
- Follow all the action with surround sound as it increases your ability to track the sounds moving all around you
- Heightens sound clarity with a 150% improvement in speech understanding in loud environments1
- Delivers a natural perception of your own voice providing less distraction during conversations
- Tailored connectivity for crystal clear phone calls, streaming, and hands-free calls with iPhone and iPad* and direct streaming from Android smartphones
- Available in the popular Receiver-in-Ear (RIE) style and in eight inclusive color options
For those looking for a discreet hearing aid option, the new Beltone Imagine Custom CIC hearing aids are a perfect solution for those with mild-to-severe hearing loss who want a simple and easy to use device. As our smallest hearing aid model, they fit comfortably and completely in the ear canal for all-day wear and are designed to work with your unique ear shape to facilitate a more natural sound.
- So discreet it is unlikely anyone will realize you are wearing them
- Simple and easy to use, just put in your ear canal and go
- Weather & sweatproof and naturally shielded from wind noise, great for active lifestyles
- Available in five different Blend-In™ colors and In-Style™ Anthracite
Beltone Achieve and Imagine Custom CIC will be available at Beltone locations nationwide beginning August 25, 2022. Learn more at www.beltone.com.
*Beltone Achieve hands-free calls are compatible with iPhone 11 or later, iPad Pro 12.9-inch (5th generation), iPad Pro 11-inch (3rd generation), iPad Air (4th generation), and iPad mini (6th generation), with software updates iOS 15.3 and iPadOS 15.3 or later.
1 Jespersen et al (2022)
For more than 80 years, Beltone has been one of the nation's most trusted and leading hearing care provider. In addition to providing some of the most reliable, affordable and advanced hearing aids, we also pride ourselves on serving as a partner to our patients every step of the way during their hearing health journey. With more than 1,500 Beltone locations nationwide, each office is a local business part of the community it serves and the hearing care professional and staff at your local Beltone will get to know you to provide a personalized experience during your journey to better hearing. And with a nationwide network, you can expect this level of personalized service wherever you go. Our Beltone hearing care professionals receive extensive training and education, so they are always equipped with the latest knowledge to bring you the best care. Proudly part of the GN Group, Beltone continues to focus on the needs of our patients through the research and development of innovative new hearing technologies to allow you to hear what truly matters the most. To learn more, please visit us at www.beltone.com and on LinkedIn.
GN Group facilitates communication between people through its intelligent hearing, audio, video, and gaming technology. Inspired by people and driven by our innovation leadership, we leverage technological synergies to deliver unique and increasingly individualized user experiences in our products and solutions.
150 years ago, GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, audio, video and speech, wireless technologies, miniaturization, and collaborations with leading technology partners. GN's solutions are marketed by the brands ReSound, SteelSeries, Jabra, Beltone, Interton, BlueParrott, Danavox and FalCom in around 100 countries. Founded in 1869, the GN Group employs 7,000 people and is listed on Nasdaq Copenhagen (GN.CO).
Visit our homepage GN.com and connect with us on LinkedIn and Facebook.
© 2022 GN Hearing A/S. All rights reserved. Beltone is a trademark of GN Hearing Care Corporation. Apple, the Apple logo, iPhone, iPad, and iPod touch are trademarks of Apple Inc., registered in the U.S. and other countries. Android is a trademark of Google LLC.
View original content to download multimedia:
SOURCE Beltone | https://www.whsv.com/prnewswire/2022/08/16/beltone-announces-launch-two-new-hearing-aids-part-continued-dedication-patient-care-amp-support-its-independent-network-owners/ | 2022-08-16T11:37:07Z |
Company to Broadcast Conference Call
COLUMBUS, Ohio, Aug. 16, 2022 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today announced it will report the results for the second quarter of fiscal 2022 on Tuesday, August 30, 2022. The company will host a conference call at 8:00 a.m. Eastern Time on Tuesday, August 30, 2022.
A live webcast of the call will be available through the Investor Relations section of its website at http://www.biglots.com/corporate/investors/ or by phone by dialing 877.407.3088 (Toll Free) or 201.389.0927 (Toll).
An archive will be available on the Investor Relations section of the company's website at http://www.biglots.com/corporate/investors/ through midnight Tuesday, September 13, 2022. In addition, a replay of the call will be available through September 13 by dialing 877.660.6853 (Toll Free) or 201.612.7415 (Toll) and enter the Replay Conference ID: 13732156.
About Big Lots, Inc.
Headquartered in Columbus, Ohio, Big Lots, Inc. (NYSE: BIG) is a leading home discount retailer and a Fortune 500 company, operating 1,445 stores in 48 states, as well as a best-in-class ecommerce platform with expanded capabilities via BOPIS, curbside pickup, Instacart and same day delivery across thousands of items. The company's product assortment is focused on home essentials: Furniture, Seasonal, Soft Home, Food, Consumables and Hard Home. Ranked one of the fastest-growing eCommerce businesses by Digital Commerce 360 and the recipient of Home Textiles Today's 2021 Retail Titan Award, Big Lots' mission is to help people Live BIG and Save Lots. The company strives to be the BIG difference for a better life by delivering exceptional value to customers through the ultimate treasure hunt shopping experience, building a "best places to grow" culture, rewarding shareholders with consistent growth and top-tier returns and doing good in local communities. For more information about the company, visit biglots.com.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and such statements are intended to qualify for the protection of the safe harbor provided by the Act. The words "anticipate," "estimate," "expect," "objective," "goal," "project," "intend," "plan," "believe," "will," "should," "may," "target," "forecast," "guidance," "outlook" and similar expressions generally identify forward-looking statements. Similarly, descriptions of objectives, strategies, plans, goals or targets are also forward-looking statements. Forward-looking statements relate to the expectations of management as to future occurrences and trends, including statements expressing optimism or pessimism about future operating results or events and projected sales, earnings, capital expenditures and business strategy. Forward-looking statements are based upon a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Forward-looking statements are and will be based upon management's then-current views and assumptions regarding future events and operating performance and are applicable only as of the dates of such statements. Although the company believes the expectations expressed in forward-looking statements are based on reasonable assumptions within the bounds of knowledge, forward-looking statements, by their nature, involve risks, uncertainties and other factors, any one or a combination of which could materially affect business, financial condition, results of operations or liquidity.
Forward-looking statements that the company makes herein and in other reports and releases are not guarantees of future performance and actual results may differ materially from those discussed in such forward-looking statements as a result of various factors, including, but not limited to, developments related to the COVID-19 coronavirus pandemic, current economic and credit conditions, the cost of goods, the inability to successfully execute strategic initiatives, competitive pressures, economic pressures on customers and the company, the availability of brand name closeout merchandise, trade restrictions, freight costs, the risks discussed in the Risk Factors section of the company's most recent Annual Report on Form 10-K, and other factors discussed from time to time in other filings with the SEC, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. This release should be read in conjunction with such filings, and you should consider all of these risks, uncertainties and other factors carefully in evaluating forward-looking statements.
You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. The company undertakes no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any further disclosures the company makes on related subjects in public announcements and SEC filings.
View original content to download multimedia:
SOURCE Big Lots, Inc. | https://www.whsv.com/prnewswire/2022/08/16/big-lots-report-second-quarter-results-august-30-2022/ | 2022-08-16T11:37:14Z |
- Submission of New Drug Application to FDA for Motixafortide in stem cell mobilization (SCM) for autologous stem cell transplantation expected within next 4-6 weeks -
- Announced appointment of commercial strategy and operations veteran Holly May as U.S.-based Chief Commercial Officer -
- Entered into collaboration agreement with GenFleet Therapeutics to advance Motixafortide in pancreatic cancer (PDAC) -
- Management to hold conference call today, August 16, at 10:00 am EDT -
TEL AVIV, Israel, Aug. 16, 2022 /PRNewswire/ -- BioLineRx Ltd. (NASDAQ: BLRX) (TASE: BLRX), a pre-commercial-stage biopharmaceutical company focused on oncology, today reports its financial results for the second quarter ended June 30, 2022 and provides a corporate update.
Significant events and achievements during the second quarter 2022 and subsequent period:
- Progressed the New Drug Application (NDA) for Motixafortide in stem cell mobilization (SCM), with submission to the FDA expected within the next 4-6 weeks;
- Appointed commercial strategy and operations veteran Holly May as Chief Commercial Officer, based in the U.S.;
- Continued to advance critical pre-launch activities with respect to Motixafortide commercialization in the U.S., if approved;
- Entered into a development collaboration agreement with GenFleet Therapeutics to execute a randomized Phase 2b clinical trial of Motixafortide, in combination with anti-PD1 and chemotherapy, for first-line treatment in approximately 200 pancreatic cancer (PDAC) patients in China;
- Ended the second quarter on solid financial footing, with cash and cash equivalents of $43.2 million, sufficient to fund operations, as currently planned, into the first half of 2024.
"Since our last quarterly update, we achieved significant progress across both our Motixafortide stem cell mobilization and pancreatic cancer (PDAC) programs," stated Philip Serlin, Chief Executive Officer of BioLineRx. "With respect to stem cell mobilization, we are in the final stages of preparing for submission of our NDA to the FDA. With Holly May on board as our new Chief Commercial Officer, we are rapidly advancing critical pre-launch activities while we continue to assess all of our options with respect to commercialization of Motixafortide in the U.S., if approved."
"The totality of data that we have compiled in stem cell mobilization, both clinical and pharmacoeconomic, make an extremely strong case for Motixafortide as the standard of care in this indication for all multiple myeloma patients undergoing autologous stem-cell transplantation, which is a highly concentrated end market estimated to be $360 million in the U.S. alone and growing consistently."
"In PDAC, the development collaboration agreement that we announced with GenFleet builds upon the positive results from our COMBAT/KEYNOTE-202 study, and we look forward to the initiation of a randomized Phase 2b PDAC trial next year. Importantly, this collaboration allows us to advance the development of Motixafortide in PDAC while retaining rights to the molecule across all indications and geographies."
"Finally, we are nearing a significant milestone for our second program, the anti-cancer vaccine AGI-134, with the upcoming release of proof-of-mechanism data from part 2 of a Phase 1/2a trial in solid tumors. If positive, we plan to initiate a randomized Phase 2 study next year."
"In summary, we believe we are well-positioned to deliver several meaningful potential regulatory, commercial and clinical catalysts over the next 12-18 months," concluded Mr. Serlin.
Upcoming Expected Milestones:
- Submission of NDA to FDA for Motixafortide as novel mobilization agent for multiple myeloma patients undergoing autologous stem cell transplantation in next 4-6 weeks;
- Initial results from Part 2 of Phase 1/2a trial of AGI-134 in solid tumors in H2 2022;
- Potential FDA approval of Motixafortide in 2023;
- Potential US launch of Motixafortide in SCM in 2023;
- Initiation of randomized Phase 2b study in PDAC under collaboration with GenFleet in 2023;
- Potential initiation of randomized Phase 2 study of AGI-134 in 2023.
Financial Results for the Quarter Ended June 30, 2022:
Research and development expenses for the three months ended June 30, 2022 were $5.4 million, an increase of $0.3 million, or 5.0%, compared to $5.1 million for the three months ended June 30, 2021. The increase resulted primarily from an increase in expenses associated with the AGI-134 study, offset by lower expenses associated with the completed Motixafortide GENESIS trial, as well as lower expenses related to NDA supporting activities related to Motixafortide. Research and development expenses for the six months ended June 30, 2022 were $9.8 million, an increase of $0.4 million, or 4.4%, compared to $9.4 million for the six months ended June 30, 2021. The reason for the increase is similar to the aforementioned increase in the three-month period.
Sales and marketing expenses for the three months ended June 30, 2022 were $1.2 million, an increase of $0.8 million, or 250.9% compared to $0.3 million for the three months ended June 30, 2021. The increase resulted primarily from initiation of pre-commercialization activities related to Motixafortide, as well as an increase in market research. Sales and marketing expenses for the six months ended June 30, 2022 were $1.8 million, an increase of $1.3 million, or 270.9% compared to $0.5 million for the six months ended June 30, 2021. The reason for the increase is similar to the aforementioned increase in the three-month period.
General and administrative expenses for the three months ended June 30, 2022 were $1.0 million, similar to the comparable period in 2021. General and administrative expenses for the six months ended June 30, 2022 were $2.1 million, similar to the comparable period in 2021.
The Company's operating loss for the three months ended June 30, 2022 amounted to $7.6 million, compared to an operating loss of $6.5 million for the comparable period in 2021. The Company's operating loss for the six months ended June 30, 2022 was $13.7 million, compared to $12.0 million for the comparable period in 2021.
Non-operating income (expenses) for the three and six months ended June 30, 2022 and for the three and six months ended June 30, 2021 primarily relate to fair-value adjustments of warrant liabilities on the Company's balance sheet, offset by warrant offering expenses.
Net financial expenses for the three months ended June 30, 2022 amounted to $0.3 million, compared to net financial expenses of $0.1 million for the three months ended June 30, 2021. Net financial expenses for the 2022 period primarily relate to loan interest paid and losses recorded on foreign currency (primarily NIS) cash balances due to the strengthening of the US dollar during the period, offset by investment income earned on bank deposits. Net financial expenses for the 2021 period primarily relate to loan interest paid, offset by investment income earned on bank deposits. Net financial expenses for the six months ended June 30, 2022 amounted to $0.4 million, compared to net financial expenses of $0.3 million for the six months ended June 30, 2021. The composition of the expenses is similar to the aforementioned composition detailed in the three-month periods.
The Company's net loss for the three months ended June 30, 2022 amounted to $7.4 million, compared with a net loss of $6.8 million for the comparable period in 2021. The Company's net loss for the six months ended June 30, 2022 amounted to $12.4 million, compared with a net loss of $17.0 million for the comparable period in 2021.
The Company held $43.2 million in cash, cash equivalents and short-term bank deposits as of June 30, 2022.
Net cash used in operating activities was $11.9 million for the six months ended June 30, 2022, compared with net cash used in operating activities of $13.1 million for the six months ended June 30, 2021. The $1.2 million decrease in net cash used in operating activities between the two periods was primarily the result of changes in operating asset and liability items in the two periods, i.e., a smaller increase in prepaid expenses and other receivables in 2022 versus 2021, as well as an increase in accounts payable and accruals in 2022 versus decrease in the 2021 period.
Net cash provided by investing activities was $15.1 million for the six months ended June 30, 2022, compared to net cash used in investing activities of $42.3 million for the six months ended June 30, 2021. The changes in cash flows from investing activities relate primarily to investments in, and maturities of, short-term bank deposits.
Net cash used in financing activities was $1.6 million for the six months ended June 30, 2022, compared to net cash provided by financing activities of $56.0 million for the six months ended June 30, 2021. The cash flows in 2022 primarily reflect the repayments of the loan from Kreos Capital. The cash flows in 2021 primarily reflect the underwritten public offering of the Company's ADSs in January 2021, warrant exercises and net proceeds from the ATM facility, offset by repayments of the loan from Kreos Capital.
Conference Call and Webcast Information
BioLineRx will hold a conference call today, Tuesday, August 16 at 10:00 a.m. EDT. To access the conference call, please dial +1-888-281-1167 from the US or +972-3-918-0685 internationally. The call will also be available via webcast and can be accessed through the Investor Relations page of BioLineRx's website. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the live broadcast.
A replay of the conference call will be available approximately two hours after completion of the live conference call on the Investor Relations page of BioLineRx's website. A dial-in replay of the call will be available until August 18, 2022; please dial +1-888-295-2634 from the US or +972-3-925-5904 internationally.
(Tables follow)
About BioLineRx
BioLineRx Ltd. (NASDAQ/TASE: BLRX) is a pre-commercial-stage biopharmaceutical company focused on oncology. The Company's lead program, Motixafortide (BL-8040), is a cancer therapy platform that was successfully evaluated in a Phase 3 study in stem cell mobilization for autologous bone-marrow transplantation, has reported positive results from a pre-planned pharmacoeconomic study, has successfully completed a pre-NDA meeting with the FDA, and is currently in preparations for an NDA submission. Motixafortide was also successfully evaluated in a Phase 2a study for the treatment of pancreatic cancer in combination with KEYTRUDA® and chemotherapy, and is currently being studied in combination with LIBTAYO® and chemotherapy as a first-line PDAC therapy.
BioLineRx is also developing a second oncology program, AGI-134, an immunotherapy treatment for multiple solid tumors that is currently being investigated in a Phase 1/2a study.
For additional information on BioLineRx, please visit the Company's website at www.biolinerx.com, where you can review the Company's SEC filings, press releases, announcements and events.
Various statements in this release concerning BioLineRx's future expectations constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," and "would," and describe opinions about future events. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of BioLineRx to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause BioLineRx's actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: the initiation, timing, progress and results of BioLineRx's preclinical studies, clinical trials and other therapeutic candidate development efforts; BioLineRx's ability to advance its therapeutic candidates into clinical trials or to successfully complete its preclinical studies or clinical trials; BioLineRx's receipt of regulatory approvals for its therapeutic candidates, and the timing of other regulatory filings and approvals; the clinical development, commercialization and market acceptance of BioLineRx's therapeutic candidates; BioLineRx's ability to establish and maintain corporate collaborations; BioLineRx's ability to integrate new therapeutic candidates and new personnel; the interpretation of the properties and characteristics of BioLineRx's therapeutic candidates and of the results obtained with its therapeutic candidates in preclinical studies or clinical trials; the implementation of BioLineRx's business model and strategic plans for its business and therapeutic candidates; the scope of protection BioLineRx is able to establish and maintain for intellectual property rights covering its therapeutic candidates and its ability to operate its business without infringing the intellectual property rights of others; estimates of BioLineRx's expenses, future revenues, capital requirements and its needs for and ability to access sufficient additional financing; risks related to changes in healthcare laws, rules and regulations in the United States or elsewhere; competitive companies, technologies and BioLineRx's industry; statements as to the impact of the political and security situation in Israel on BioLineRx's business; and the impact of the COVID-19 pandemic and the Russian invasion of Ukraine, which may exacerbate the magnitude of the factors discussed above. These and other factors are more fully discussed in the "Risk Factors" section of BioLineRx's most recent annual report on Form 20-F filed with the Securities and Exchange Commission on March 16, 2022. In addition, any forward-looking statements represent BioLineRx's views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. BioLineRx does not assume any obligation to update any forward-looking statements unless required by law.
Contact:
Tim McCarthy
LifeSci Advisors, LLC
+1-917-679-9282
tim@lifesciadvisors.com
or
Moran Meir
LifeSci Advisors, LLC
+972-54-476-4945
moran@lifesciadvisors.com
View original content:
SOURCE BioLineRx Ltd. | https://www.whsv.com/prnewswire/2022/08/16/biolinerx-reports-second-quarter-2022-financial-results-provides-corporate-update/ | 2022-08-16T11:37:20Z |
Results Include 11m @ 2.04% Nickel + 1.23% Copper (PGM Results Pending)
VANCOUVER, BC, Aug. 16, 2022 /PRNewswire/ - Bravo Mining Corp. (TSX.V: BRVO), ("Bravo" or the "Company") today announced high grade nickel and copper assay results from the previously released diamond drill hole DDH22LU047 at its Luanga platinum group metals (palladium + platinum + rhodium) + gold + nickel (PGM+Au+Ni) project ("Luanga"), located in the Carajás Mineral Province, state of Pará, Brazil. The high-grade intercept of 11.04m grading 2.04% nickel and 1.23% copper occurs in massive and semi-massive sulphides – a style of mineralization not previously observed at Luanga, increasing the target type potential at the project. Palladium, platinum and rhodium assay results are pending.
- 11.04m @ 2.04% nickel and 1.23% copper, from 131.11m
- Contractors arriving onsite this week to commence Downhole Transient Electromagnetic ("DHTEM") surveying at Luanga, starting with DDH22LU047
- Palladium, platinum and rhodium results are pending
"As announced in Bravo's August 3rd, 2022 news release, high-grade nickel-copper mineralization at these concentrations, has not been observed previously at Luanga and could represent a new type of mineralisation that occurs within the Luanga PGM deposit, or a potential indication of feeder zones," said Luis Azevedo, Chairman and CEO of Bravo. "DHTEM surveying will commence shortly, which should allow us to vector in on the continuation of high-grade nickel/copper massive sulphides, guiding follow-up drilling."
The Phase 1 diamond drill program continues as planned at Luanga. With six drill rigs on site, drilling is now in progress in various locations along the entire 7km strike length of the known mineralization, including to the north where the latest and final surface access agreements were recently signed (see August 2, 2022 news release).
Phase 1 drilling is designed to confirm, infill and step out from the previously defined PGM+Au+Ni mineralization in order to increase confidence in the geological model and provide the basis for future mineral resource estimates. Additionally, drilling will target potential extensions to the mineralization at depth, as well as exploration targets at Luanga.
Complete Table of Assay Results
- All 'From', 'To' depths, and 'Thicknesses' are downhole
- Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~80 to 90% of true thickness.
- FR = Fresh Rock.
Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM + Au + Ni Project in the world-class Carajás Mineral Province of Brazil.
The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo's current Environmental, Social and Governance activities includes replanting trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.
Bravo was founded by a management team and board with extensive Brazilian and PGM exploration, permitting, project financing, construction and operating experience. This includes Luis Azevedo, Executive Chairman & CEO; Simon Mottram, President; Alex Penha, EVP Corporate Development; and Independent Directors, Dr. Nicole Adshead-Bell (Lead Director), Stuart Comline, Tony Polglase and Stephen Quin.
Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person", as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Mottram has verified the technical data and opinions contained in this news release.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "confirm", "designed", "increase confidence", "interpreted", "pending", and other similar words, phrases or statements that certain events or conditions "should", or "will" occur.
In particular, this news release contains forward-looking information pertaining to the Company's ongoing re-assay and drill programs and the results thereof; the expected arrival of geophysical equipment and the results of such surveys; the potential for the definition o new styles of mineralization and extensions to depth and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm the interpreted mineralization contains significant values of nickel, copper and also contain PGMs and Au; final drill and assay results will be in line with management's expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Schedule 1: Drill Hole Collar Details
Samples follow a chain of custody between collection, processing and delivery to the ALS laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo's Luanga site facilities and processed by geologists who insert certified reference materials, blanks and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas ALS laboratory by Bravo staff. Additional information about the methodology can be found on the ALS global website (ALS) in the analytical guides. IN this case a split is collected by Bravo staff and securely delivered to the Intertek laboratory in Parauapebas where it was assayed by high priority for ore grade Ni and Cu.
Quality Assurance and Quality Control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.
View original content to download multimedia:
SOURCE Bravo Mining Corp. | https://www.whsv.com/prnewswire/2022/08/16/bravo-intercepts-high-grade-nickelcopper-massive-sulphide-mineralization-luanga/ | 2022-08-16T11:37:27Z |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.