The latest offerings to hit the market are a Brazilian private-equity firm and a Chinese maker of e-cigarettes.
(Bloomberg) -- U.S. coronavirus cases posted the slowest spread since the pandemic began almost a year ago. The Centers for Disease Control and Prevention said vaccinated people can visit indoors without masks. U.S. airline flyers top 1 million-a-day pace. The European Commission is “tired of being the scapegoat” for the slow rollout of vaccines, said its president, Ursula von der Leyen. U.K. Prime Minister Boris Johnson said more than one-third of the population has received a first dose of the coronavirus vaccine as deaths from the disease continue to fall. Italy plant to produce first Russian vaccide in EU.Key Developments:Global Tracker: Cases pass 117 million; deaths approach 2.6 millionVaccine Tracker: More than 306 million shots given worldwideU.S. Spotlight: Variant’s spread in Florida shows threat to recovery‘Hassle factor’ and distrust shadow wide U.S. vaccine hesitancyCelebratory ‘vaxications’ are giving the travel industry a boostHow the pandemic darkens the picture on women’s pay: QuickTakeSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click CVID on the terminal for global data on cases and deaths.Russian Vaccine to Be Made in Italy (4:45 p.m. NY)A Swiss biopharmaceutical company will produce the Sputnik V Covid-19 vaccine at its Italian facilities, marking the first European production agreement for the Russian shot.Lugano, Switzerland-based Adienne Pharma & Biotech SA signed an agreement with Russian sovereign wealth fund RDIF to manufacture the vaccine at its production site near Milan, according to a statement on the company’s website. Italian regulators must still approve the production but several million doses are expected to be made by the end of the year.U.S. Airline Fliers Top 1 Million a Day (4:35 p.m. NY)U.S. airlines carried an average of more than 1 million passengers a day in the past week, the highest non-holiday total since the Covid-19 pandemic began gutting travel demand in the country almost a year ago.Sunday’s total of 1.28 million was the third highest since travel collapsed in mid-March 2020, according to data reported by the Transportation Security Administration. The only equivalent periods with that many fliers since March 17, 2020, have been during the traditionally busy Thanksgiving and Christmas periods.Florida Lowering Eligibility to Age 60 (3:10 p.m. NY)Florida Governor Ron DeSantis said the state is opening up the vaccine to everyone 60 and over starting on March 15, expanding general eligibility by five years from the previous starting age of 65.Speaking from Tallahassee Monday, DeSantis said the state still had more to do to vaccinate the 65-and-over community but that demand had started to “soften a little bit.”Official data show at least 2.6 million of the state’s 4.5 million seniors have gotten at least one shot, but the data are generally reported with a lag. DeSantis said he expected the number will increase to 3 million later this week.Dutch Lockdown Extended (2 p.m. NY)The Netherlands will extend its lockdown until the end of March, but slowly ease some restrictions, Dutch Prime Minister Mark Rutte said on Monday. A curfew from 9 p.m. until 4.30 a.m. will remain in place, but shopping on appointment will be expanded and adults are allowed to take part in outside sports with up to four people.The extension means the country, which suffered riots in January over virus curbs, will hold next week’s general election during a lockdown. Rutte also looked ahead to the summer, estimating that four more months are needed to reach a critical amount of vaccinated people to allow for significant easing of restrictions.WHO Concerned About Nations With Conflicts (1:35 p.m. NY)The World Health Organization expressed concern about nations facing conflicts that could halt or slow the response to the pandemic, including vaccinations, officials said at a briefing on Monday.“The response to the pandemic needs to be a public health response and we have to take out politics,” said Kate O’Brien, head of the WHO’s vaccination division. She said vaccines have a shelf life and risk being wasted if they’re not distributed on time.Myanmar, Yemen, Syria and Libya have all faced disruption to general health services.The WHO is having difficulty getting information on Covid and other health issues in many areas, according to Mike Ryan, head of the WHO health emergencies program.Wyoming Lifts Mask Requirement (1:35 p.m. NY)Wyoming will lift its mask requirement and permit bars, restaurants, theaters and gyms to resume normal operations March 16, Governor Mark Gordon said Monday.Wyoming “has seen significant success rolling out the vaccine,” according to a statement issued by the governor’s office.Health officials in neighboring Colorado last week directed counties to maintain safety protocols and Governor Jared Polis extended Colorado’s mask order for at least another 30 days. Gordon is a Republican. Polis is a Democrat.Chicago Ballparks to Allow Fans (1 p.m. NY)Chicago Mayor Lori Lightfoot said Wrigley Field, home to the Chicago Cubs, and Guaranteed Rate Field, home to the Chicago White Sox, will allow up to 20% capacity, starting on each baseball team’s opening day in April. That capacity may grow as vaccination and recovery efforts continue, but any jump in Covid-19 cases could prompt closures, the city said.Wrigley Field, the oldest ballpark in the National League, will be limited to 8,274 fans per game starting on April 1, the city said. Normal capacity is 41,374. Guaranteed Rate Field, home to the Chicago White Sox on the South Side, will be limited to 8,122 fans. Normally, the ballpark seats just over 40,000 guests.The move follows the city’s steps to ease Covid-19 restrictions as numbers improve. Chicago has already increased capacity at bars and restaurants to 50%.U.K. Vaccinates One-Third of Population (11:55 a.m. NY)More than one-third of the U.K. population has received a first dose of the coronavirus vaccine as deaths from the disease continue to fall.Prime Minister Boris Johnson announced the milestone at a news conference on Monday, the same day the government took its first major step in easing lockdown restrictions by reopening schools. “Today we’ve been able to take that crucial first step on what we hope is our cautious but irreversible roadmapto freedom,” he said. “The overwhelming feeling is one of relief.”CDC Loosens Rules for Vaccinated People (11:05 a.m. NY)Vaccinated people can visit indoors without masks but must still wear them in public and avoid large gatherings when around those who aren’t immunized or are at high risk for contracting Covid-19, the U.S. Centers for Disease Control and Prevention said Monday.The agency issued its long-awaited guidance for what fully vaccinated people can safely do, as inoculations rise but as health experts warn that the risk of the virus remains, especially with new variants.Broadly, the CDC recommended that fully vaccinated people can meet freely in private settings with other fully vaccinated people, but that several restrictions remain, including advising against travel and recommending mask-wearing in public.EU’s Von Der Leyen Rips Vaccine Critics (11 a.m. NY)The European Commission is “tired of being the scapegoat” for the slow rollout of vaccines, its president, Ursula von der Leyen, said as she continues to face pressure over the EU’s uncertain response to the pandemic.In a blistering counter-attack against criticism over the European Union’s sluggish Covid-19 vaccination program, von der Leyen refocused blame on manufacturers, notably AstraZeneca Plc, which she said hadn’t stockpiled doses as it started producing in Europe.Philippines Expects 20 Million Doses (10:50 a.m. NY)The Philippines expects to receive 20 million Covid-19 vaccine doses by June or July.About 1.1 million vaccine doses has arrived as of Monday, Carlito Galvez, who heads the nation’s vaccine-procurement efforts, said in a live-streamed briefing Monday evening. The government has administered about 44,000 doses, including in places outside the capital region, he said.Draghi Vows to Jump-Start Italy Vaccinations (10:50 a.m. NY)Prime Minister Mario Draghi pledged strong action to turn around Italy’s slow vaccination campaign, saying an exit path out of the coronavirus pandemic isn’t far away if the country can move faster on inoculations.Speaking via video, the newly appointed premier told a Rome conference that his priorities include fueling a recovery for Italy’s economy, which contracted 8.9% last year.NYC Mayor Praises J&J Shot (10:15 a.m. NY)New York City Mayor Bill de Blasio said the city has begun deploying the one-dose Johnson & Johnson vaccine and praised the shot as a way to reach home-bound seniors and other people who weren’t able to get the vaccine before. The city has initiated a program to bring shots directly into senior homes.“Finally we have the vaccine we need,” de Blasio said on a Monday virus briefing. “People want the J&J vaccine because its one-dose and you’re done.”In other news, the city will reopen high schools for in-person learning on March 22, bringing students in the U.S.’s largest public-school system back into classrooms a year after the pandemic closed it down.South African Strain Found in Colorado Prison (8:33 a.m. NY)Colorado has identified its first three cases of the South African virus variant at a state prison, officials said. One of the patients is an inmate and the other two are prison staff members at the Buena Vista Correctional Complex in rural Chaffee County. “These samples were chosen at random for sequencing as part of ongoing variant surveillance analysis,” according to a statement issued by the Colorado Department of Corrections.To date, 81 cases of the variant have been identified in the U.S., according to CDC data.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
iSun, Inc. (NASDAQ: ISUN) ("iSun") a leading solar energy and clean mobility infrastructure innovator with 50 years of construction expertise for solar, electrical and data services, today announced that it will issue fourth quarter and full-year 2020 results after the market closes on Monday, March 15, 2021. A conference call will be held on Tuesday, March 16, 2021 at 8:30 AM ET to review the Company’s financial results, discuss recent events and conduct a question-and-answer session.
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Aquestive Therapeutics, Inc. (NASDAQ: AQST) between December 2, 2019 and September 25, 2020, inclusive (the "Class Period"), of the important April 30, 2021 lead plaintiff deadline.
MIAMI BEACH, Fla., March 08, 2021 (GLOBE NEWSWIRE) -- The Herzfeld Caribbean Basin Fund, Inc. (NASDAQ: CUBA) (the “Fund”) today announced its quarterly distribution pursuant to the Fund’s managed distribution policy (the “Plan”). Quarterly Distribution: The Fund today declared the following distribution pursuant to the Plan: Declaration DateEx-DateRecord DatePayment DatePer Share03/08/202103/17/202103/18/202103/31/2021$0.15525 The primary purpose of the Plan is to provide stockholders with a constant, but not guaranteed, fixed minimum rate of distribution each quarter (currently set at the annual rate of 15% of the Fund’s net asset value as determined on March 31, 2020 and payable in quarterly installments). The Fund cannot predict what effect, if any, the Plan will have on the market price of its shares or whether such market price will reflect a greater or lesser discount to net asset value as compared to prior to the adoption of the Plan. The quarterly distribution for the Fund’s third fiscal quarter constitutes the sixth consecutive quarterly distribution under the Plan. The $0.15525 per share amount announced today reflects a distribution of 2.63% based upon the market price per share of the Fund and 2.24% based upon the net asset value per share of the Fund, each as of February 26, 2021. No conclusions should be drawn about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the Plan. Details regarding the Managed Distribution Plan: Under the Plan, the Fund will distribute all available investment income to its stockholders, consistent with its investment objective and as required by the Internal Revenue Code of 1986, as amended (the “Code”). The amount distributed per share is subject to change at the discretion of the Board. If sufficient investment income is not available on a quarterly basis, the Fund will distribute long-term capital gains and/or return capital to its stockholders in order to maintain its managed distribution level. The Fund is currently not relying on any exemptive relief from Section 19(b) of the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund may make additional distributions from time to time, including additional capital gain distributions at the end of the taxable year, if required to meet requirements imposed by the Code and/or the 1940 Act. Please note that for stockholders enrolled in the Fund’s Dividend Reinvestment Plan (“DRIP”), the distribution will be reinvested in additional shares of the Fund as described in the DRIP. The Fund expects that distributions under the Plan will exceed investment income and available capital gains and thus expects that distributions under the Plan will likely include returns of capital for the foreseeable future. A return of capital may occur, for example, when some or all of a stockholder’s investment is paid back to the stockholder. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income.’ Any such returns of capital will decrease the Fund’s total assets and, therefore, could have the effect of increasing the Fund’s expense ratio. In addition, in order to maintain the level of distributions called for under its Plan, the Fund may have to sell portfolio securities at a less than opportune time. The following table sets forth the estimated amounts of the current quarterly distribution and the cumulative distributions paid this fiscal year to date from the following sources: net investment income, net realized capital gains and return of capital. All amounts are expressed per common share. Current Distribution% Breakdown of theCurrent DistributionTotal CumulativeDistributions for theFiscal Year to Date% Breakdown of theTotal CumulativeDistributions for theFiscal Year to DateNet InvestmentIncome$0.000%$0.000%Net Realized Short-Term Capital Gains$0.000%$0.000%Net Realized Long-Term Capital Gains$0.000%$0.000%Return of Capital$0.15525100%$0.46575100%Total (per commonshare)$0.15525100%$0.46575100% Average annual total return (in relation to NAV) for the 5-year period ending on February 26, 20219.03%Annualized current distribution rate expressed as a percentage of NAV as of February 26, 20218.96%Annualized current distribution rate expressed as a percentage of PRICE as of February 26, 202110.53%Cumulative total return (in relation to NAV) for the fiscal year through February 26, 202154.09%Cumulative fiscal year distributions as a percentage of NAV as of February 26, 20214.48% No conclusions should be drawn about the Fund’s investment performance from the amount of the Fund’s distributions or from the terms of the Plan. The amount distributed per share is subject to change at the discretion of the Board. The Plan is subject to ongoing review by the Board to determine whether it should be continued, modified or terminated. The Board may amend the terms of the Plan, suspend the Plan, or terminate the Plan at any time without prior notice to the Fund’s stockholders if it deems such actions to be in the best interest of the Fund or its stockholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's shares. With each distribution that does not consist solely of net investment income, the Fund will issue a notice to stockholders and an accompanying press release that will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions reported in the notice to stockholders are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during its full fiscal year and may be subject to changes based on tax regulations. The Fund will send stockholders a Form 1099-DIV for the respective calendar year that will tell them how to report these distributions for federal income tax purposes. Stockholders should consult their tax advisor for proper tax treatment of the Fund’s distributions. About Thomas J. Herzfeld Advisors, Inc. Thomas J. Herzfeld Advisors, Inc., founded in 1984, is an SEC registered investment advisor, specializing in investment analysis and account management in closed-end funds. The Firm also specializes in investment in the Caribbean Basin. The HERZFELD/CUBA division of Thomas J. Herzfeld Advisors, Inc. serves as the investment advisor to The Herzfeld Caribbean Basin Fund, Inc. a publicly traded closed-end fund (NASDAQ: CUBA). More information about the advisor can be found at www.herzfeld.com. Past performance is no guarantee of future performance. An investment in the Fund is subject to certain risks, including market risk. In general, shares of closed-end funds often trade at a discount from their net asset value and at the time of sale may be trading on the exchange at a price which is more or less than the original purchase price or the net asset value. An investor should carefully consider the Fund’s investment objective, risks, charges and expenses. Please read the Fund’s disclosure documents before investing. Forward-Looking Statements This press release, and other statements that TJHA or the Fund may make, may contain forward looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or TJHA’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. TJHA and the Fund caution that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and TJHA and the Fund assume no duty to and do not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, particularly with respect to Cuba and other Caribbean Basin countries, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund’s net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or TJHA, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or TJHA or the Fund; (9) TJHA’s and the Fund’s ability to attract and retain highly talented professionals; (10) the impact of TJHA electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC’s website at www.sec.gov and on TJHA’s website at www.herzfeld.com/cubafinancialreports, and may discuss these or other factors that affect the Fund. The information contained on TJHA’s website is not a part of this press release. CONTACT: Contact: Tom Morgan Chief Compliance Officer Thomas J. Herzfeld Advisors, Inc. 1-305-777-1660
SOUTHAMPTON, Pa., March 08, 2021 (GLOBE NEWSWIRE) -- Environmental Tectonics Corporation’s (OTC Pink: ETCC) (“ETC” or the “Company”) Simulation business unit, located in Orlando, FL, announced today the award of multiple contracts totaling $2.8 Million for customers in the United States, Europe, and Asia. The multiple contracts include orders for new ADMS systems, expansion of existing systems, and extended maintenance contracts. These training systems are in use by Fire Services, Disaster Management Agencies, and Airports. “These contracts reflect ETC Simulation’s global leadership in advanced simulation training systems for incident command staff and emergency vehicle operators. We are proud to work with our customers and assist them with fulfilling their training mission by providing realistic and effective training solutions” states Marco van Wijngaarden, President of ETC Simulation. About ETC ETC designs, manufactures, and sells software driven products and services used to recreate and monitor the physiological effects of motion on humans, and equipment to control, modify, simulate, and measure environmental conditions. Our products include aircrew training systems (aeromedical, tactical combat, and general), disaster management systems, sterilizers (steam and gas), environmental testing and simulation systems, and other products that involve similar manufacturing techniques and engineering technologies. ETC’s unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. ETC is headquartered in Southampton, PA. For more information about ETC, visit http://www.etcusa.com/. Forward-looking Statements This news release contains forward-looking statements, which are based on management’s expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “future”, “predict”, “potential”, “intend”, or “continue”, and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements. Contact:Mark Prudenti, CFO Phone:(215) 355-9100 x1531 E-mail:firstname.lastname@example.org
DALLAS, March 08, 2021 (GLOBE NEWSWIRE) -- A. H. Belo Corporation (NYSE: AHC) today reported a fourth quarter 2020 net loss of $1.7 million, or $(0.08) per share, and an operating loss of $4.0 million. In the fourth quarter of 2019, the Company reported a net loss of $1.1 million, or $(0.05) per share, and an operating loss of $2.4 million. For the fourth quarter of 2020, on a non-GAAP basis, A. H. Belo reported operating income adjusted for certain items (“adjusted operating income (loss)”) of $0.5 million, an improvement of $0.4 million when compared to adjusted operating income of $0.1 million reported in the fourth quarter of 2019. For the full year 2020, the Company reported a net loss of $6.9 million, or $(0.32) per share, and an operating loss of $15.6 million. For the full year 2019, the Company reported net income of $9.3 million, or $0.43 per fully diluted share, and operating income of $9.5 million. 2019 income was driven by a pretax gain of $25.9 million from the sale of real estate previously used as the Company’s headquarters. For the full year 2020, on a non-GAAP basis, the Company reported an adjusted operating loss of $4.9 million, a decline of $2.8 million when compared to an adjusted operating loss of $2.1 million reported for the full year 2019. Robert W. Decherd, chairman, president and Chief Executive Officer, said, “The Company's business activities stabilized to some extent in the second half of 2020 as the effects of the pandemic became clearer, enabling our management teams to make further operating adjustments that will enable A. H. Belo and The Dallas Morning News to carry on during another year of challenging conditions in 2021. The Board views these two calendar years as a single time frame during which the Company is responding ably to significant revenue and market pressures. “I am extraordinarily proud of the way every colleague has acclimated to the realities imposed by the pandemic. Working remotely since one year ago this month, our News Department, Belo + Company, and our business operations teams have excelled. The News Department has admirably fulfilled the vital, front-line role of providing meaningful news, information and insight when our region and our country have needed these most. Our 300-plus colleagues at the North Plant have worked tirelessly to print and distribute The News without missing a cycle, while tending to their personal situations away from work. “Throughout 2020, the Board supported management's recommendations to continue making investments in operations that will enable the Company to emerge from the pandemic as a sustainably profitable digital news organization. Grant Moise and Katy Murray are leading efforts internally during 2021 aimed at defining this path forward. “A key corporate objective for 2021 is to address the Company's compliance with New York Stock Exchange listing requirements. A. H. Belo became non-compliant at the end of the third quarter of 2020 when the Company did not meet the NYSE minimums for market capitalization and shareholders' equity. We have been in steady contact with the NYSE and are studying options to regain compliance. Management is discussing these with the Board and expects to have a plan for proceeding soon. “The outstanding balance of the Company's note to Charter Holdings in connection with the 2019 sale of our former headquarters in Downtown Dallas is due on June 30 of this year. Charter made its most recent interest payment on the note timely and continues to confirm its commitment to fulfilling its obligation to A. H. Belo. However, new commercial real estate development everywhere has been impacted by the economic effects of the pandemic, so we are monitoring this situation closely and are in contact with Charter's principal.” Fourth Quarter Results Total revenue was $40.8 million in the fourth quarter of 2020, a decrease of $6.0 million or 12.8 percent when compared to the fourth quarter of 2019. Revenue from advertising and marketing services, including print and digital revenues, was $19.8 million in the fourth quarter of 2020, a decrease of $5.1 million or 20.4 percent when compared to the $24.9 million reported for the fourth quarter of 2019. The decline is primarily due to a $3.7 million reduction in print advertising revenue, which has been significantly impacted by the COVID-19 pandemic. Circulation revenue was $16.7 million, a decrease of $0.5 million or 2.8 percent when compared to the fourth quarter of 2019. Home delivery revenue decreased 3.7 percent and single copy revenue decreased 25.7 percent, primarily due to the significantly reduced number of locations selling newspapers as a result of the pandemic, partially offset by an increase of $0.5 million or 39.7 percent in digital-only subscription revenue. Printing, distribution and other revenue decreased $0.4 million, or 9.5 percent, to $4.3 million, primarily due to a reduction in brokered and commercial printing, partially offset by an increase in shared mail packaging revenue. Total consolidated operating expense in the fourth quarter of 2020, on a GAAP basis, was $44.8 million, an improvement of $4.4 million or 8.9 percent compared to the fourth quarter of 2019. The improvement is primarily due to expense decreases of $1.7 million in newsprint, ink and other supplies, $1.6 million in outside services, $0.5 million in distribution, $0.4 million in employee compensation and benefits, and $0.3 million in travel and entertainment. In the fourth quarter of 2020, on a non-GAAP basis, adjusted operating expense was $46.1 million, an improvement of $2.6 million or 5.4 percent when compared to $48.7 million of adjusted operating expense in the fourth quarter of 2019. The improvement is primarily due to expense decreases in newsprint, distribution, employee compensation and benefits, and reductions from continued management of discretionary spending. Full Year Results Total revenue was $154.3 million for the full year 2020, a decrease of $29.3 million or 15.9 percent when compared to the prior year period. Revenue from advertising and marketing services, including print and digital revenues, was $72.2 million in 2020, a decrease of $23.6 million or 24.7 percent when compared to the $95.9 million reported for the full year 2019. Print advertising revenue declined $15.9 million. Digital advertising and marketing services revenue decreased $7.7 million, primarily due to the termination of The Dallas Morning News’ affiliate relationship with Cars.com in September 2019. Circulation revenue was $64.9 million, a decrease of $3.3 million or 4.9 percent when compared to the prior year period. Home delivery revenue decreased 5.5 percent and single copy revenue decreased 24.7 percent, primarily as a result of the pandemic, partially offset by an increase of $1.6 million or 32.0 percent in digital-only subscription revenue. Printing, distribution and other revenue decreased $2.3 million, or 11.8 percent, to $17.2 million for the full year 2020, primarily due to a reduction in brokered and commercial printing. Total consolidated operating expense for the full year 2020, on a GAAP basis, was $169.9 million, an improvement of $4.2 million or 2.4 percent compared to full year 2019. Excluding the 2019 gain of $25.9 million from the real estate sale, operating expense improved $30.1 million or 15.0 percent. The improvement is primarily due to expense decreases of $8.4 million in employee compensation and benefits, $6.4 million in newsprint, ink and other supplies, $6.3 million in outside services, $2.0 million in depreciation, $1.4 million in distribution, $1.2 million in advertising and promotion, and $0.9 million in travel and entertainment. For the full year 2020, on a non-GAAP basis, adjusted operating expense was $170.6 million, an improvement of $26.6 million or 13.5 percent when compared to $197.2 million of adjusted operating expense reported for full year 2019. The improvement is primarily due to expense decreases in employee compensation and benefits, newsprint, distribution, and reductions from continued management of discretionary spending including additional measures the Company has taken this year in order to mitigate the financial impact of the pandemic. As of December 31, 2020, the Company had 743 employees, a decrease of 87 or 10.5 percent when compared to the prior year period. Cash and cash equivalents were $42.0 million and the Company had no debt. Non-GAAP Financial Measures Reconciliations of operating income (loss) to adjusted operating income (loss), total net operating revenue to adjusted operating revenue, and total operating costs and expense to adjusted operating expense are included in the exhibits to this release. Financial Results Conference Call A. H. Belo Corporation will conduct a conference call on Tuesday, March 9, 2021, at 9:00 a.m. CST to discuss financial results. The conference call will be available via webcast by accessing the Company’s website at www.ahbelo.com/invest. An archive of the webcast will be available at www.ahbelo.com in the Investor Relations section. To access the listen-only conference call, dial 1-844-291-5490 and enter the following access code when prompted: 5801403. A replay line will be available at 1-866-207-1041 from 12:00 p.m. CST on March 9, 2021 until 11:59 p.m. CDT on March 15, 2021. The access code for the replay is 3114516. About A. H. Belo Corporation A. H. Belo Corporation is the leading local news and information publishing company in Texas. The Company has a growing presence in emerging media and digital marketing, and maintains capabilities related to commercial printing, distribution and direct mail. A. H. Belo delivers news and information in innovative ways to a broad range of audiences with diverse interests and lifestyles. For additional information, visit www.ahbelo.com or email email@example.com. Statements in this communication concerning A. H. Belo Corporation’s business outlook or future economic performance, revenues, expenses, and other financial and non-financial items that are not historical facts, including statements of the Company’s expectations relating to its plans to regain NYSE compliance, are “forward-looking statements” as the term is defined under applicable federal securities laws. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those statements. Such risks, trends and uncertainties are, in most instances, beyond the Company’s control, and include changes in advertising demand and other economic conditions; consumers’ tastes; newsprint prices; program costs; labor relations; cybersecurity incidents; technological obsolescence; and the current and future impacts of the COVID-19 public health crisis. Among other risks, there can be no guarantee that the board of directors will approve a quarterly dividend in future quarters; as well as other risks described in the Company’s Annual Report on Form 10-K and in the Company’s other public disclosures and filings with the Securities and Exchange Commission. Forward-looking statements, which are as of the date of this filing, are not updated to reflect events or circumstances after the date of the statement. A. H. Belo Corporation and SubsidiariesConsolidated Statements of Operations Three Months Ended December 31, Years Ended December 31,In thousands, except share and per share amounts (unaudited) 2020 2019 2020 2019Net Operating Revenue: Advertising and marketing services $19,822 $24,899 $72,214 $95,856 Circulation 16,687 17,165 64,935 68,260 Printing, distribution and other 4,290 4,738 17,150 19,447 Total net operating revenue 40,799 46,802 154,299 183,563 Operating Costs and Expense: Employee compensation and benefits 19,260 19,678 71,772 80,134 Other production, distribution and operating costs 21,050 23,473 80,008 90,673 Newsprint, ink and other supplies 2,150 3,829 10,168 16,570 Depreciation 1,696 1,975 7,016 8,983 Amortization 64 139 255 495 (Gain) loss on sale/disposal of assets, net 34 6 90 (24,540)Asset impairments 563 116 563 1,709 Total operating costs and expense 44,817 49,216 169,872 174,024 Operating income (loss) (4,018) (2,414) (15,573) 9,539 Other income, net 2,236 1,046 7,014 4,169 Income (Loss) Before Income Taxes (1,782) (1,368) (8,559) 13,708 Income tax provision (benefit) (43) (272) (1,687) 4,416 Net Income (Loss) $(1,739) $(1,096) $(6,872) $9,292 Per Share Basis Net income (loss) Basic and diluted $(0.08) $(0.05) $(0.32) $0.43 Number of common shares used in the per share calculation: Basic and diluted 21,410,423 21,438,953 21,410,423 21,546,257 A. H. Belo Corporation and SubsidiariesConsolidated Balance Sheets December 31, December 31,In thousands (unaudited) 2020 2019Assets Current assets: Cash and cash equivalents $42,015 $48,626 Accounts receivable, net 16,562 18,441 Notes receivable 22,775 — Other current assets 6,754 7,737 Total current assets 88,106 74,804 Property, plant and equipment, net 11,959 18,453 Operating lease right-of-use assets 20,406 21,371 Intangible assets, net 64 319 Deferred income taxes, net 76 50 Long-term note receivable — 22,400 Other assets 2,604 3,648 Total assets $123,215 $141,045 Liabilities and Shareholders’ Equity Current liabilities: Accounts payable $7,759 $6,103 Accrued compensation and other current liabilities 10,829 13,337 Contract liabilities 12,896 12,098 Total current liabilities 31,484 31,538 Long-term pension liabilities 18,520 23,039 Long-term operating lease liabilities 21,890 23,120 Other liabilities 4,913 5,611 Total liabilities 76,807 83,308 Total shareholders' equity 46,408 57,737 Total liabilities and shareholders’ equity $123,215 $141,045 A. H. Belo Corporation - Non-GAAP Financial MeasuresReconciliation of Operating Income (Loss) to Adjusted Operating Income (Loss) Three Months Ended December 31, Years Ended December 31,In thousands (unaudited) 2020 2019 2020 2019Total net operating revenue $40,799 $46,802 $154,299 $183,563 Total operating costs and expense 44,817 49,216 169,872 174,024 Operating Income (Loss) $ (4,018) $ (2,414) $ (15,573) $ 9,539 Total net operating revenue $40,799 $46,802 $154,299 $183,563 Addback: Advertising contra revenue 5,643 1,897 11,043 11,013 Circulation contra revenue 110 84 315 452 Adjusted Operating Revenue $ 46,552 $ 48,783 $ 165,657 $ 195,028 Total operating costs and expense $44,817 $49,216 $169,872 $174,024 Addback: Advertising contra expense 5,643 1,897 11,043 11,013 Circulation contra expense 110 84 315 452 Less: Depreciation 1,696 1,975 7,016 8,983 Amortization 64 139 255 495 Severance expense 2,127 257 2,748 1,678 (Gain) loss on sale/disposal of assets, net 34 6 90 (24,540)Asset impairments 563 116 563 1,709 Adjusted Operating Expense $ 46,086 $ 48,704 $ 170,558 $ 197,164 Adjusted operating revenue $46,552 $48,783 $165,657 $195,028 Adjusted operating expense 46,086 48,704 170,558 197,164 Adjusted Operating Income (Loss) $ 466 $ 79 $ (4,901) $ (2,136) The Company calculates adjusted operating income (loss) by adjusting operating income (loss) to exclude depreciation, amortization, severance expense, (gain) loss on sale/disposal of assets, and asset impairments (“adjusted operating income (loss)”). The Company believes that inclusion of certain noncash expenses and other items in the results makes for more difficult comparisons between years and with peer group companies. The Company adopted the new revenue guidance (Topic 606) using the modified retrospective approach as of January 1, 2018. While the Company adjusts operating revenue and expense for non-GAAP presentation, these adjustments have no effect on adjusted operating income (loss). Adjusted operating income (loss) is not a measure of financial performance under generally accepted accounting principles (“GAAP”). Management uses adjusted operating income (loss) and similar measures in internal analyses as supplemental measures of the Company’s financial performance, and for performance comparisons versus its peer group of companies. Management uses this non-GAAP financial measure for the purposes of evaluating consolidated Company performance. The Company therefore believes that the non-GAAP measure presented provides useful information to investors by allowing them to view the Company’s business through the eyes of management and the Board of Directors, facilitating comparison of results across historical periods and providing a focus on the underlying ongoing operating performance of its business. Adjusted operating income (loss) should not be considered in isolation or as a substitute for net income (loss), cash flows provided by (used for) operating activities or other comparable measures prepared in accordance with GAAP. Additionally, this non-GAAP measure may not be comparable to similarly-titled measures of other companies. Contact:Katy Murray214-977-8869
Austhera Biosciences is presenting a company overview at the 2021 Spring Private Company Showcase hosted by Credit Suisse, Solebury Trout, and Cooley.
The tennis great was uninjured in the spectacular crash. Source: YouTube
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U.S. State Department spokesman Ned Price said on Monday that the Houthis must demonstrate willingness to engage in a political process to achieve peace in Yemen, after the group claimed responsibility for drone and missile attacks on Saudi Arabia. "Only then will we be able to make progress towards the political settlement that we're after."
The San Francisco building that file hosting service Dropbox leases as its headquarters is being sold for a whopping $1.08 billion, its owners said on Monday.
Property Solutions Acquisition Corp. II (the "Company"), a special purpose acquisition company, today announced the closing of its upsized initial public offering of 30,000,000 units at a price to the public of $10.00 per unit. The offering resulted in gross proceeds to the Company of $300 million.
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. OTTAWA, March 08, 2021 (GLOBE NEWSWIRE) -- Calian Group Ltd. (“Calian” or the “Company”) (TSX:CGY) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Desjardins Capital Markets and Acumen Capital Finance Partners Limited, acting as joint bookrunners (collectively the “Underwriters”), pursuant to which the Underwriters have agreed to purchase on a bought deal basis 1,240,000 common shares (the “Common Shares”) at a price of $60.50 per Common Share (the “Offering Price”) for aggregate gross proceeds to Calian of $75,020,000 (the “Offering”). The Company has granted the Underwriters an option, exercisable, in whole or in part, at any time not later than the 30th day following the closing of the Offering, to purchase up to an additional 15% of the Offering at the Offering Price for market stabilization purposes and to cover over-allotments, if any (the “Over-Allotment Option”). If the Over-Allotment Option is exercised in full, the total gross proceeds of the Offering will be $86,273,000. The Company intends to use the net proceeds from the Offering to pursue strategic growth initiatives, including acquisitions, and for general corporate purposes. The Common Shares will be offered (i) by way of a prospectus supplement (the “Prospectus Supplement”) to Calian’s amended and restated short form base shelf prospectus dated February 25, 2021, (amending and restating the short form base shelf prospectus dated January 31, 2020), which Prospectus Supplement will be filed with the securities commissions and other similar regulatory authorities in each of the provinces of Canada; (ii) in the United States by way of private placement pursuant to the exemption from registration provided for under Rule 144A of the United States Securities Act of 1933, as amended; and (iii) in jurisdictions outside of Canada and the United States as are agreed to by the Company and the Underwriters on a private placement or equivalent basis. The Offering is expected to close on or about March 17, 2021 (the "Closing Date") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and applicable U.S. state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder. About Calian Calian employs over 4,500 people in its delivery of diverse products and solutions for private sector, government and defence customers in North American and global markets. The Company’s diverse capabilities are delivered through: Advanced Technologies, Health, Learning, and IT and Cyber Solutions. Advanced Technologies provides innovative products, technologies and manufacturing services and solutions for the space, communications, defence, nuclear, government and agriculture sectors. Health manages a network of more than 2,000 healthcare professionals delivering primary care and occupational health services to public and private sector clients across Canada. Learning is a trusted provider of emergency management, consulting and specialized training services and solutions for the Canadian Armed Forces and clients in the defence, health, energy and other sectors. IT and Cyber Solutions supports public and private-sector customer requirements for subject matter expertise in the delivery of complex IT and cyber security solutions. Headquartered in Ottawa, the Company’s offices and projects span Canada and international markets. For further information, please visit our website at www.calian.com. Kevin Ford Patrick HoustonMedia inquiries:President and Chief Executive OfficerChief Financial Officer 613-599-8600 613-599-8600613-599-8600 x 2298 Forward-Looking Statements This press release includes statements containing certain “forward-looking information” within the meaning of applicable securities laws (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur and include, but are not to, statements regarding the filing of the Prospectus Supplement; the amount and terms of the Offering, the expected Closing Date and the proposed use of the net proceeds under the Offering. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Factors which could cause results or events to differ from current expectations include, among other things: the impact of price competition; scarce number of qualified professionals; the impact of rapid technological and market change; loss of business or credit risk with major customers; technical risks on fixed price projects; general industry and market conditions and growth rates; international growth and global economic conditions, and including currency exchange rate fluctuations; and the impact of consolidations in the business services industry, the potential offering of any securities by the Company; uncertainty with respect to the completion of any future offering; the ability to obtain applicable regulatory approval for any contemplated offerings; the ability of the Company to negotiate and complete future funding transactions, as well as the risks identified under the heading “Risk Factors” in the Company’s Annual Information Form for its fiscal year ended September 30, 2020. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Baptist Pastor Stewart Allen-Clark is now on leave and receiving "professional counselling."
ArtStation NFT Launch
National CineMedia, Inc. Reports Results for Fiscal Fourth Quarter and Full Year 2020
Demonstrators gathered in front of New York Gov. Andrew Cuomo's office on Monday to protest subminimum wages. They said a tipped wage structure forces workers to put up with harassment from customers or the risk of not being paid. (March 8)
Technology-related shares sold off on Monday in a big downturn that pushed the Nasdaq into corrective territory and offset stocks that rose on hopes the $1.9 trillion COVID-19 relief bill will spur the U.S. economy. The big technology stocks that have led Wall Street to scale successive peaks over the past year's rally fell with the Nasdaq closing down 2.41%, roughly 10.5% below its Feb. 12 record close of 14,095.47. Financial shares and restaurant and travel-related stocks that are expected to do well when the economy reopens rose but were unable to offset the weight of the bigger tech shares that dominate the U.S. stock market.
Signify Health, Inc. (NYSE:SGFY), a leading value-based healthcare platform enabled by advanced analytics, technology and nationwide healthcare networks, announced that it will release its financial results for the fourth quarter and full year 2020 after the market closes on Wednesday, March 24, 2021, and will hold a conference call at 8:30am ET on Thursday, March 25, 2021 to discuss the results.
The Nasdaq's retreat from its all-time highs last month is now officially considered a correction in a bull market. The Nasdaq entered the latest bull market in September, rising more than 30% to its peak. Market-leading tech and tech-adjacent megacap stocks, which account for much of the Nasdaq's total market value, thrived during the pandemic recession.