Yahoo Finance Contributor Roger Parloff joined Yahoo Finance Live to break down his thoughts on why Dominion v. MyPillow Guy poses a test for America’s libel laws.
Yahoo Finance Contributor Roger Parloff joined Yahoo Finance Live to break down his thoughts on why Dominion v. MyPillow Guy poses a test for America’s libel laws.
We’re living in a digital transaction world that rises and falls on the success or failure of the customer experience, but so many companies are still selling like it’s 1999. In CMO to CRO: The Revenue Takeover by the Next Generation Executive, Tegrita empowers CMOs to shed the limitations of their role by taking control and revolutionizing the revenue model.
Shareholder rights law firm Robbins LLP is investigating QuantumScape Corporation (NYSE: QS) to determine whether certain of the Company's officers and directors violated the Securities Exchange Act of 1934 and breached their fiduciary duties to the Company. QuantumScape develops battery technology for electric vehicles and other applications.
Digital extortion attempts are returning to their pre-Colonial Pipeline levels, according to data and interviews with some incident responders, suggesting that the upheaval around the hack that paralyzed a major U.S. fuel conduit has yet to curb cybercriminals' appetite for ransoms. Ransomware incidents are usually shrouded in secrecy, with victim companies and criminals alike eager to prevent the eye-watering extortion payments from becoming public. There was a dip in the number of companies whose data was uploaded to ransomware operators' name-and-shame sites in the days following the Colonial intrusion, said Allan Liska, a researcher with cybersecurity firm Recorded Future.
Republican congresswoman demands investigation into Black Lives Matter protests as GOP rejects bipartisan investigation into pro-Trump assault
WMT earnings call for the period ending April 30, 2021.
Local officials also announced on Tuesday they wouldn’t seek charges or released video of the fatal shooting to the public
Fourth quarter revenue increases 6% as reported; full year increases 3% as reportedFull year earnings per diluted share of $4.63 on a U.S. GAAP basis and $6.17 on an adjusted basis on effective tax rates of 23.3% and 20.7%, respectivelyCompany provides outlook for fiscal 2022 including Cantel Medical DUBLIN, IRELAND, May 18, 2021 (GLOBE NEWSWIRE) -- STERIS plc (NYSE: STE) (“STERIS” or the “Company”) today announced financial results for its fiscal 2021 fourth quarter ended March 31, 2021. Revenue as reported for the quarter increased 6% to $873.5 million compared with $823.0 million in the fourth quarter of fiscal 2020, with growth in all three segments. Constant currency organic revenue (see Non-GAAP Financial Measures) increased 0.3% for the fourth quarter of fiscal 2021 as compared to constant currency organic revenue results in the fourth quarter of fiscal 2020. For the full fiscal year, revenue as reported increased 3% to $3,107.5 million and constant currency organic revenue was up slightly from the prior year. “We are pleased to finish fiscal 2021 with constant currency organic revenue up slightly from last year and double-digit adjusted net income growth, even with the impact of the COVID-19 pandemic. This performance speaks to the resilience of our business and the good work by our Associates," said Walt Rosebrough, President and Chief Executive Officer of STERIS. “Our outlook for fiscal 2022 reflects the additions of Key Surgical for the full year and ten months of Cantel Medical as-well-as another year of record organic revenue and earnings, as we expect healthcare procedure volumes to return to pre-pandemic levels.” Fourth Quarter and Full Year Operating ResultsAs reported, net income for the fourth quarter was $87.4 million or $1.02 per diluted share, compared with $122.6 million or $1.43 per diluted share in the fourth quarter of fiscal 2020. Adjusted net income (see Non-GAAP Financial Measures) for the fourth quarter of fiscal 2021 was $140.3 million or $1.63 per diluted share, compared with the previous year’s fourth quarter of $139.8 million or $1.63 per diluted share. As reported, full year net income was $397.4 million, or $4.63 per diluted share, compared with $407.7 million, or $4.76 per diluted share in fiscal 2020. Adjusted net income for fiscal 2021 was $530.2 million, or $6.17 per diluted share, compared with adjusted net income of $482.7 million, or $5.64 per diluted share in fiscal 2020. The effective tax rate was primarily impacted by discrete item adjustments. In the fourth quarter of fiscal 2021, STERIS eliminated the use of LIFO for inventory accounting, which impacted our quarterly profit measures for fiscal 2021. The impact of this accounting change for fiscal 2021 caused a $0.03 reduction in earnings per diluted share. This accounting change has been retrospectively applied to all periods presented in the attached tables. Fourth Quarter Segment ResultsHealthcare revenue as reported grew 3% in the quarter to $561.8 million compared with $546.6 million in the fourth quarter of fiscal 2020. This performance reflected a 25% increase in consumable revenue, driven by the addition of $32.1 million in revenue from Key Surgical, and a 4% reduction in both service and capital equipment revenue. Constant currency organic revenue declined 4% for the quarter. Healthcare operating income was $122.7 million compared with $120.9 million in last year’s fourth quarter. The increase in profitability was primarily due to the favorable impact from Key Surgical. Fiscal 2021 fourth quarter revenue for Applied Sterilization Technologies increased 15% as reported to $187.5 million compared with $163.7 million in the same period last year. Constant currency organic revenue increased 10%, driven primarily by increased demand from medical device Customers in the quarter. Segment operating income was $88.2 million in the fourth quarter of fiscal 2021 compared with operating income of $72.0 million in the same period last year primarily due to the increased volume, lower expenses and favorable foreign currency impact. Life Sciences fourth quarter revenue as reported grew 10% to $124.2 million compared with $112.7 million in the fourth quarter of fiscal 2020, driven by 43% growth in capital equipment revenue and 5% growth in service revenue which were partially offset by a 4% decline in consumable revenue. Constant currency organic revenue growth was 7% in the quarter. Operating income was $44.4 million in the fourth quarter of fiscal 2021 compared with $41.0 million in the prior year’s fourth quarter primarily driven by increased volume. Cash Flow Net cash provided by operations for fiscal 2021 was $689.6 million, compared with $590.6 million for fiscal 2020. Free cash flow (see Non-GAAP Financial Measures) for fiscal 2021 was $450.9 million compared with $380.2 million in the prior year period. The increase in free cash flow is primarily due to improvements in working capital somewhat offset by higher capital expenditures. Fiscal 2022 OutlookWith Cantel Medical planned to close on June 2, STERIS is providing outlook including Cantel Medical for fiscal 2022. STERIS expects as reported revenue of approximately $4.5 billion. Constant currency organic revenue growth is expected to be in the range of 8-9% for fiscal 2022. Reflecting March 31, 2021 forward rates, currency movements are anticipated to be favorable to revenue by approximately $15 million for fiscal 2022. Adjusted earnings per diluted share are anticipated to be in the range of $7.40 - $7.65, which assumes an adjusted effective tax rate of 21-22% and a share count of approximately 99 million diluted shares. Free cash flow for fiscal 2022 is expected to be approximately $380 million, reflecting approximately $200 million in integration and deal related costs primarily for the purchase of Cantel Medical. Capital spending is anticipated to be approximately $320 million for the combined company. Dividend AnnouncementSTERIS’s Board of Directors has approved a quarterly interim dividend of $0.40 per share. The dividend is payable June 25, 2021 to shareholders of record at the close of business on May 28, 2021. Conference Call As previously announced, STERIS management will host a conference call tomorrow, May 19, 2021 at 11:00 a.m. ET. The conference call can be heard at www.steris-ir.com or via phone by dialing 1-833-535-2199 in the United States or 1-412-902-6776 internationally, then asking to join the conference call for STERIS plc. For those unable to listen to the conference call live, a replay will be available beginning at 1:00 p.m. ET on May 19, 2021, either at www.steris-ir.com or via phone. To access the replay of the call, please use the access code 10154451 and dial 1-877-344-7529 in the United States or 1-412-317-0088 internationally. About STERIS STERIS’s MISSION IS TO HELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD by providing innovative healthcare and life science products and services around the globe. For more information, visit www.steris.com. Investor Contact: Julie Winter, Vice President, Investor Relations and Corporate CommunicationsJulie_Winter@steris.com+1 440 392 7245 Media Contact: Stephen Norton, Senior Director, Corporate CommunicationsStephen_Norton@steris.com+1 440 392 7482 Non-GAAP Financial MeasuresAdjusted net income, adjusted EBIT, free cash flow and constant currency organic revenue are non-GAAP measures that may be used from time to time and should not be considered replacements for GAAP results. Non-GAAP financial measures are presented in this release with the intent of providing greater transparency to supplemental financial information used by management and the Board of Directors in their financial analysis and operational decision making. These amounts are disclosed so that the reader has the same financial data that management uses with the belief that it will assist investors and other readers in making comparisons to our historical operating results and analyzing the underlying performance of our operations for the periods presented. The Company believes that the presentation of these non-GAAP financial measures, when considered along with our GAAP financial measures, provides a more complete understanding of the factors and trends affecting our business than could be obtained absent this disclosure. Adjusted net income excludes the amortization of intangible assets acquired in business combinations, acquisition related transaction costs, integration costs related to acquisitions, redomiciliation and tax restructuring costs, COVID-19 incremental costs, settlement of I.R.S. adjustments related to prior fiscal years, and certain other unusual or non-recurring items. COVID-19 incremental costs includes the additional costs attributable to COVID-19 such as enhanced cleaning protocols, personal protective equipment for our employees, event cancellation fees, and payroll costs associated with our response to COVID-19, net of any government subsidies available. STERIS believes this measure is useful because it excludes items that may not be indicative of or are unrelated to our core operating results and provides a baseline for analyzing trends in our underlying businesses. The Company defines free cash flow as cash flows from operating activities less purchases of property, plant, equipment and intangibles, plus proceeds from the sale of property, plant, equipment, and intangibles. STERIS believes that free cash flow is a useful measure of the Company’s ability to fund future principal debt repayments and growth outside of core operations, pay cash dividends, and repurchase ordinary shares. To measure the percentage organic revenue growth, the Company removes the impact of significant acquisitions and divestitures that affect the comparability and trends in revenue. To measure the percentage constant currency organic revenue growth, the impact of changes in currency exchange rates and acquisitions and divestitures that affect the comparability and trends in revenue are removed. The impact of changes in currency exchange rates is calculated by translating current year results at prior year average currency exchange rates. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. These adjusted financial measures should not be considered in isolation or as a substitute for reported sales, gross profit, operating income, net earnings and net earnings per diluted share, the most directly comparable GAAP financial measures. These non-GAAP financial measures are an additional way of viewing aspects of the Company’s operations that, when viewed with GAAP results and the reconciliations to corresponding GAAP financial measures below, provide a more complete understanding of the business. The Company strongly encourages investors and shareholders to review its financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This press release and the referenced conference call may contain forward-looking statements within the meaning of the federal securities laws about STERIS. Forward-looking statements speak only as to the date the statement is made and may be identified by the use of forward-looking terms such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “projects,” “targets,” “forecasts,” “outlook,” “impact,” “potential,” “confidence,” “improve,” “optimistic,” “deliver,” “orders,” “backlog,” “comfortable,” “trend”, and “seeks,” or the negative of such terms or other variations on such terms or comparable terminology. These forward-looking statements are based on current expectations, estimates or forecasts about our businesses, the industries in which we operate and current beliefs and assumptions of management and are subject to uncertainty and changes in circumstances. Investors should understand that these statements are not guarantees of performance or results. Many important factors could affect actual financial results and cause them to vary materially from the expectations contained in the forward-looking statements. No assurances can be provided as to any result or the timing of any outcome regarding matters described in STERIS’s or Cantel’s securities filings or otherwise with respect to any regulatory action, administrative proceedings, government investigations, litigation, warning letters, cost reductions, business strategies, earnings or revenue trends or future financial results. Unless legally required, we do not undertake to update or revise any forward-looking statements even if events make clear that any projected results, express or implied, will not be realized. These risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements include, without limitation: the failure to obtain Cantel stockholder approval of the proposed transaction;the possibility that the closing conditions to the proposed transaction may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant a necessary regulatory approval and any conditions imposed on the combined entity in connection with consummation of the proposed transaction;delay in closing the proposed transaction or the possibility of non-consummation of the proposed transaction;the risk that the cost savings and any other synergies from the proposed transaction may not be fully realized or may take longer to realize than expected, including that the proposed transaction may not be accretive within the expected timeframe or to the extent anticipated;the occurrence of any event that could give rise to termination of the merger agreement;the risk that shareholder/stockholder litigation in connection with the proposed transaction may affect the timing or occurrence of the proposed transactions or result in significant costs of defense, indemnification and liability;risks related to the disruption of the proposed transaction to STERIS, Cantel and our respective managements;risks relating to the value of the STERIS shares to be issued in the transaction;the effect of announcement of the proposed transaction on our ability to retain and hire key personnel and maintain relationships with customers, suppliers and other third parties;the impact of the COVID-19 pandemic on STERIS’s or Cantel’s operations, performance, results, prospects, or value;STERIS’s ability to achieve the expected benefits regarding the accounting and tax treatments of the redomiciliation to Ireland (“Redomiciliation”);operating costs, Customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, Customers, clients or suppliers) being greater than expected following the Redomiciliation;STERIS’s ability to meet expectations regarding the accounting and tax treatment of the Tax Cuts and Jobs Act (“TCJA”) or the possibility that anticipated benefits resulting from the TCJA will be less than estimated;changes in tax laws or interpretations that could increase our consolidated tax liabilities, including changes in tax laws that would result in STERIS being treated as a domestic corporation for United States federal tax purposes;the potential for increased pressure on pricing or costs that leads to erosion of profit margins;the possibility that market demand will not develop for new technologies, products or applications or services, or business initiatives will take longer, cost more or produce lower benefits than anticipated;the possibility that application of or compliance with laws, court rulings, certifications, regulations, regulatory actions, including without limitation any of the same relating to FDA, EPA or other regulatory authorities, government investigations, the outcome of any pending or threatened FDA, EPA or other regulatory warning notices, actions, requests, inspections or submissions, or other requirements or standards may delay, limit or prevent new product or service introductions, affect the production, supply and/or marketing of existing products or services or otherwise affect STERIS’s or Cantel’s performance, results, prospects or value;the potential of international unrest, economic downturn or effects of currencies, tax assessments, tariffs and/or other trade barriers, adjustments or anticipated rates, raw material costs or availability, benefit or retirement plan costs, or other regulatory compliance costs;the possibility of reduced demand, or reductions in the rate of growth in demand, for STERIS’s or Cantel’s products and services;the possibility of delays in receipt of orders, order cancellations, or delays in the manufacture or shipment of ordered products or in the provision of services;the possibility that anticipated growth, cost savings, new product acceptance, performance or approvals, or other results may not be achieved, or that transition, labor, competition, timing, execution, regulatory, governmental, or other issues or risks associated with STERIS’s and Cantel’s businesses, industry or initiatives including, without limitation, those matters described in STERIS’s and Cantel’s respective Annual Reports on Form 10-K for the year ended March 31, 2020 and July 31, 2020, respectively, and other securities filings, may adversely impact STERIS’s and/or Cantel’s performance, results, prospects or value;the impact on STERIS and its operations, or tax liabilities, of Brexit or the exit of other member countries from the EU, and STERIS’s ability to respond to such impacts;the impact on STERIS, Cantel and their respective operations of any legislation, regulations or orders, including but not limited to any new trade or tax legislation, regulations or orders, that may be implemented by the U.S. administration or Congress, or of any responses thereto;the possibility that anticipated financial results or benefits of recent acquisitions, including the acquisition of Key Surgical, or of STERIS’s restructuring efforts, or of recent divestitures, or of restructuring plans will not be realized or will be other than anticipated;the effects of contractions in credit availability, as well as the ability of STERIS’s and Cantel’s Customers and suppliers to adequately access the credit markets when needed;STERIS’s ability to complete the acquisition of Cantel, including the fulfillment of closing conditions and obtaining financing, on terms satisfactory to STERIS or at all; andother risks described in STERIS’s and Cantel’s respective most recent Annual Reports on Form 10-K and other reports filed with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law. This cautionary statement is applicable to all forward-looking statements contained herein and in the referenced conference call. Attachment STERIS 4Q21 Financial Tables
The ranking member on the House Ways and Means Committee, Rep. Kevin Brady of Texas, sat down with Yahoo Finance’s Adam Shapiro to discuss Biden's tax proposals, the prospects for retirement reform, a possible bipartisan commission on the Jan. 6 violence, and what he'll miss most about Congress when he retires next year.
Frontline Ltd. (NYSE and OSE: FRO) (“Frontline” or the “Company”) today announces that it has entered into an agreement for the acquisition through resale of six latest generation ECO-type VLCC newbuilding contracts. The six VLCCs are currently under construction at the Hyundai Heavy Industries (“HHI”) shipyard in South Korea and are being acquired for an aggregate purchase price of $565.8 million, including an estimated $25.7 million in additions and upgrades to the standard specifications. The vessels are designed to operate on different fuels, including Biofuel, have the potential to be converted or retrofitted to consume fuel like LNG or Ammonia and consequently there is an ability to cut CO2 emissions to zero when technology, logistics and the regulatory framework allows for it. The newbuildings will also be fitted with Exhaust Gas Scrubber technology, high-end Anti Fouling systems, equipped with Digital Energy Performance solutions as well as compliant with specific Exxon Mobile lightering requirements to allow for maximum trading flexibility. The delivery schedule is very attractive with five vessels delivering during 2022 starting in Q1 and the last vessel in Q1 2023. The payment profile for this transaction means that the largest portion of the instalments on each vessel will be made on delivery of each vessel. Frontline will meet the financing of this acquisition with existing borrowing facilities and will establish long term financing closer to delivery of the vessels. Lars H. Barstad, Interim CEO of Frontline Management AS said: “This transaction is consistent with our core company goals to increase exposure to the VLCC market without adding to existing vessel supply. It further cements Frontline’s position in respect of owning a modern, high quality, fuel efficient fleet. The delivery schedule for these vessels is particularly attractive, in a timing window regarded closed for new orders. With this acquisition Frontline is tangibly moving on our journey towards lower carbon emissions.” May 18, 2021 The Board of DirectorsFrontline Ltd.Hamilton, Bermuda Questions should be directed to: Lars H. Barstad: Interim Chief Executive Officer, Frontline Management AS +47 23 11 40 37 Inger M. Klemp: Chief Financial Officer, Frontline Management AS +47 23 11 40 76 Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. Words, such as, but not limited to “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Frontline believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the control of Frontline, Frontline cannot assure you that they will achieve or accomplish these expectations, beliefs or projections. The information set forth herein speaks only as of the date hereof, and Frontline disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. The information included in this announcement is defined as inside information pursuant to article 7 of the Market Abuse Regulation and is publicly disclosed in accordance with article 17 of the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act. The announcement is made by the contact person.
Sealed Air Corporation (NYSE: SEE) announced today that its Board of Directors has declared a 25% increase in the Company’s quarterly cash dividend. The quarterly cash dividend will increase from $0.16 per common share to $0.20 per common share. The dividend is payable on June 18, 2021 to stockholders of record at the close of business on June 4, 2021.
Orion Engineered Carbons (NYSE: OEC), a global supplier of specialty and high-performance carbon black, today announced it was recently honored for its commitment to safety by the International Carbon Black Association (ICBA). Of the 50 awards granted by the ICBA, Orion received 12 awards in recognition of the company’s stellar safety record at its sites during calendar year 2020.
The RMR Group Inc. (Nasdaq: RMR) today announced the execution of 79 new and renewal leases totaling approximately 3.4 million square feet during the three months ended March 31, 2021 for its clients. This includes 32 new leases for a total of approximately 480,000 square feet, and 47 renewal leases for a total of over 2.9 million square feet.
North American Risk Services, Inc. (NARS) is pleased to announce and welcome Michelle Greene as Director of Workers’ Compensation. Michelle is a thought leader joining the first ever Workers’ Compensation Center of Excellence. She will enhance the development of this status quo challenging team. She is innovative, courageous, and understands the components of human nature in claims to deliver the best workers’ compensation philosophy across teams, adjusters, clients, and the industry. We welcome Michelle and her innate leadership to make good things happen for those with whom she encounters. Her desire to transform the industry and propel it forward into a wholistic, meaningful, purpose-driven manner is exciting as she embarks on a beautiful journey ahead.
Atkore Inc. (the "Company") (NYSE: ATKR) today announced that it has priced its previously announced notes offering and has agreed to issue and sell $400 million aggregate principal amount of 4.25% Senior Notes due 2031 (the "Notes"). The Notes will be sold to investors at par.
American Tower Corporation (NYSE: AMT) today announced the pricing of its registered public offering of senior unsecured notes due 2027, 2029 and 2033 in aggregate principal amounts of €750.0 million (approximately $911.4 million), €750.0 million (approximately $911.4 million) and €500.0 million (approximately $607.6 million), respectively. The 2027 notes will have an interest rate of 0.450% per annum and are being issued at a price equal to 99.783% of their face value. The 2029 notes will have an interest rate of 0.875% per annum and are being issued at a price equal to 99.923% of their face value. The 2033 notes will have an interest rate of 1.250% per annum and are being issued at a price equal to 99.371% of their face value.
SAN CARLOS, Calif., May 18, 2021 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a late-stage biotechnology company developing novel T cell-based cancer immunotherapies, today announced receipt of regulatory feedback from the U.S. Food and Drug Administration (FDA) regarding its potency assays for lifileucel. Previously, the company reported the submission of assay data to the FDA and recently the FDA provided comments regarding the data package. Following FDA feedback, Iovance will continue its ongoing work developing and validating its potency assays and plans to submit additional assay data and to meet with the FDA in the second half of 2021. The company's biologics license application (BLA) submission for lifileucel is now expected to occur during the first half of 2022. “TIL is a first-in-class, one-time administration cell therapy and the first potential BLA for a cell therapy in solid tumors,” stated Maria Fardis, Ph.D., MBA, Iovance President and Chief Executive Officer. “As such, TIL product is complex by nature and alignment with FDA on a potency assay is an important step toward BLA submission. With a regenerative medicines advanced therapy (RMAT) designation for lifileucel, FDA recognizes the unmet need for patients with metastatic melanoma who progress after anti-PD1 therapy.” About Iovance Biotherapeutics, Inc. Iovance Biotherapeutics aims to improve patient care by making T cell-based immunotherapies broadly accessible for the treatment of patients with solid tumors and blood cancers. Tumor infiltrating lymphocyte (TIL) therapy uses a patient’s own immune cells to attack cancer. TIL cells are extracted from a patient’s own tumor tissue, expanded through a proprietary process, and infused back into the patient. Upon infusion, TIL reach tumor tissue, where they attack cancer cells. The company has completed dosing in pivotal programs in patients with metastatic melanoma and cervical cancer. In addition, the company’s TIL therapy is being investigated in a registration-supporting study for the treatment of patients with locally advanced, recurrent or metastatic non-small cell lung cancer (NSCLC). Clinical studies are also underway to evaluate TIL in earlier stage cancers in combination with currently approved treatments, and to investigate Iovance peripheral blood lymphocyte (PBL) T cell therapy for blood cancers. For more information, please visit www.iovance.com. Forward-Looking Statements Certain matters discussed in this press release are “forward-looking statements” of Iovance Biotherapeutics, Inc. (hereinafter referred to as the “Company,” “we,” “us,” or “our”) within the meaning of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). All such written or oral statements made in this press release, other than statements of historical fact, are forward-looking statements and are intended to be covered by the safe harbor for forward-looking statements provided by the PSLRA. Without limiting the foregoing, we may, in some cases, use terms such as “predicts,” “believes,” “potential,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “forecast,” “guidance,” “outlook,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes and are intended to identify forward-looking statements. Forward-looking statements are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are outside of our control, that may cause actual results, levels of activity, performance, achievements and developments to be materially different from those expressed in or implied by these forward-looking statements. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the sections titled "Risk Factors" in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and include, but are not limited to, the following substantial known and unknown risks and uncertainties inherent in our business: the effects of the COVID-19 pandemic; risks related to the timing of and our ability to successfully develop, submit, obtain and maintain U.S. Food and Drug Administration (“FDA”) or other regulatory authority approval of, or other action with respect to, our product candidates, and our ability to successfully commercialize any product candidates for which we obtain FDA approval; preliminary and interim clinical results, which may include efficacy and safety results, from ongoing clinical trials may not be reflected in the final analyses of our ongoing clinical trials or subgroups within these trials; the risk that enrollment may need to be adjusted for our trials and cohorts within those trials based on FDA and other regulatory agency input; the new version of the protocol which further defines the patient population to include more advanced patients in our cervical cancer trial may have an adverse effect on the results reported to date; the risk that we may be required to conduct additional clinical trials or modify ongoing or future clinical trials based on feedback from the FDA or other regulatory authorities; the risk that our interpretation of the results of our clinical trials or communications with the FDA may differ from the interpretation of such results or communications by the FDA; the acceptance by the market of our product candidates and their potential reimbursement by payors, if approved; our ability or inability to manufacture our therapies using third party manufacturers or our own facility may adversely affect our potential commercial launch; the results of clinical trials with collaborators using different manufacturing processes may not be reflected in our sponsored trials; the risk that unanticipated expenses may decrease our estimated cash balances and increase our estimated capital requirements; and other factors, including general economic conditions and regulatory developments, not within our control. CONTACTS Iovance Biotherapeutics, Inc:Sara Pellegrino, IRCVice President, Investor Relations & Public Relations650-260-7120 ext. 264Sara.Pellegrino@iovance.com Solebury Trout:Zara Lockshin646.firstname.lastname@example.org
(All amounts expressed in US dollars, unless otherwise stated) VANCOUVER, British Columbia, May 18, 2021 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) today announced its financial results for the three months ended March 31, 2021 (“Q1-2021”), posting income from mining operations of $5.3 million and a net income of $1.2 million. Fernando E. Ganoza, CEO and Director, commented, "This was a particularly challenging quarter given the operational setbacks resulting in loss production and an increase in cash cost, partially mitigated by higher realized metal prices leading to a cash margin of $2.38 per pound of payable copper. The Company closed the quarter showing a strong cash position of US$ 9.2 million and US$ 18 million in trade receivables, which were mostly realized in early April.” Mr. Ganoza continued," We anticipate that we will be able to make up for the lost production throughout the remainder of this year to meet the annual guidance and take full advantage of the higher metal price environment.” First Quarter Financial Highlights Net income for the three months ended March 31, 2021 (“Q1-2021”) amounted to $1.2 million, compared with a loss of $1.6 million for the comparative period (“Q1-2020”). Net income was significantly affected by a higher realized copper price, partially offset by higher production costs and a negative fair value adjustment on outstanding derivatives, as compared to Q1-2020.Sales for the period increased 155% to $19.3 million when compared with $7.6 million in Q1-2020. Copper (“Cu”) and gold (“Au”) accounted for 92% and 8% of the 10,125 (Q1-2020 – 8,588) dry metric tonnes (“DMT”) shipped and invoiced during Q1-2021. The average realized price per metal on invoicing was $4.05 (Q1-2020 - $2.18) per pound (“lbs”) of copper and $1,728 (Q1-2020 - $1,578) per ounce (“oz”) of gold.Working capital was $21.3 million (December 31, 2020 - $22.5 million), while the Company had $6.6 million (December 31, 2020 - $6.8 million) in long-term loans payable. Cash costs(1) were $125.24 per tonne of processed ore and $1.67 per pound of payable copper produced(2), which were increases of 23% and 48% over Q1-2020, respectively. The increase in the cash cost per pound of payable copper net of by products is primarily explained by a higher cost per processed tonne, along with lower by-product credit from gold. Cash margin(1)(2) was $2.38 (Q1-2020 - $1.04) per pound of payable copper produced, which was an increase of 126% over Q1-2020. All-in sustaining cash cost per payable pound of copper produced(1)(2) was $2.85 (Q1-2020 - $1.60). First Quarter Summary of Financial Results Q12021 Q12020 %ChangeRevenue $ 19,303,903 $ 7,563,092 155%Cost of sales (12,356,497) (8,970,716) 38%Income from mining operations 6,947,406 (1,407,624) 594%As a % of revenue 36% -19% 293%General and administrative expenses 1,357,573 1,058,570 28%Income from operations 5,311,749 (2,560,117) 307%As a % of revenue 28% -34% 181%Income before income taxes 2,753,712 (1,714,920) 261%Net income (loss) 1,255,782 (1,555,449) 181%As a % of revenue 7% -21% 132%Operating cash flow before changes in non-cash operating working capital items(1) $ 7,340,036 $ (1,644,521) 546% First Quarter Operational Review In Q1-2021, the Company produced 4.5 million lbs of copper, 2,134 oz of gold, and 7,870 oz of silver. When compared to Q1-2020, production decreased by 9.0% for copper and 19.7% for gold. The decrease for both copper and gold is mostly explained by 6.9% decrease in processed ore, while for gold an additional factor was a 12.8% decrease in head grade. Cash costs(1) for the period were $125.24 per tonne of processed ore, and $1.67 per pound of payable copper produced, increases of 23% and 48% over Q1-2020, respectively. All-in sustaining cash cost per payable pound of copper produced(1)(2) was $2.85. First Quarter Operational Details Q12021Q12020%ChangeProduction (Contained in Concentrate)(3) Copper (000s lbs) 4,5034,959-9%Gold (oz) 2,1342,736-20%Silver (oz) 7,8709,784-21%Mine Tonnes of material mined 68,28272,777-12%Mill Tonnes processed 73,60373,374-7%Tonnes processed per day 9548789%Copper grade (%) 3.233.31-2%Gold grade (g/t) 1.711.96-13%Silver grade (g/t) 6.9810.86-24%Recoveries Copper (%) 91.291.91%Gold (%) 56.859.0-4%Silver (%) 51.438.211%Concentrates Copper Concentrates (DMT) 10,36510,2132%Copper (%) 19.721.9-10%Gold (g/t) 6.48.3-21%Silver (g/t) 23.629.8-22% Payable copper produced (000s lbs) 4,2784,680-9%Cash cost per pound of payable copper ($/lbs)(1)(2) 1.671.1448% The financial statements and MD&A are available on SEDAR and have also been posted on the company's website at http://www.aticomining.com/s/FinancialStatements.asp El Roble Mine The El Roble mine is a high grade, underground copper and gold mine with nominal processing plant capacity of 1,000 tonnes per day, located in the Department of Choco in Colombia. Its commercial product is a copper-gold concentrate. Since obtaining control of the mine on November 22, 2013, Atico has upgraded the operation from a historical nominal capacity of 400 tonnes per day. El Roble has Proven and Probable reserves of 1.47 million tonnes grading 3.40% copper and 1.88 g/t gold, at a cut-off grade of 1.93% copper equivalent as of June 30, 2018. Mineralization is open at depth and along strike and the Company plans to further test the limits of the deposit. On the larger land package, the Company has identified a prospective stratigraphic contact between volcanic rocks and black and grey pelagic sediments and cherts that has been traced by Atico geologists for ten kilometers. This contact has been determined to be an important control on volcanogenic massive sulfide (“VMS”) mineralization on which Atico has identified numerous target areas prospective for VMS type mineralization occurrence, which is the focus of the current surface drill program at El Roble. La Plata Overview The La Plata project is a gold rich volcanogenic massive sulphide deposit that was the subject of small-scale mining from 1975-1981 by Outokumpu Finland. The project benefits from a modern drill and exploration database which was completed by Cambior Inc. from 1996-1999, Cornerstone Capital from 2006-2009 and Toachi from 2016-2019. In total, there is drill core and logs from more than 28,300 metres of drilling. Historic resources based on drilling by Cambior and Cornerstone were estimated at 913,977 tonnes grading 8.01 grams gold per tonne, 88.3 grams silver per tonne, 5.01% copper, 6.71% zinc and 0.78% lead per tonne in the inferred category. More recently, Toachi Mining completed a PEA estimating an inferred resource of 1.85 million tonnes grading 4.10 grams gold per tonne, 50.0 grams silver per tonne, 3.30% copper, 4.60% zinc and 0.60% lead per tonne. The La Plata project consists two concessions covering a total area of 2,300 hectares along its 4-kilometer length, which contains known mineralization in two VMS lenses and nine priority exploration targets. The Company has a binding option agreement with a private Ecuadorean company to earn up to 75% in the La Plata project, of which the first option to acquire the initial 60% ownership has been exercised. Please refer to the Company’s MD&A for the year ended December 31, 2020 for further details. Qualified Person Mr. Thomas Kelly (SME Registered Member 1696580), advisor to the Company and a qualified person under National Instrument 43-101 standards, is responsible for ensuring that the technical information contained in this news release is an accurate summary of the original reports and data provided to or developed by Atico. About Atico Mining Corporation Atico is a growth-oriented Company, focused on exploring, developing and mining copper and gold projects in Latin America. The Company operates the El Roble mine and is pursuing additional acquisition opportunities. For more information, please visit www.aticomining.com. ON BEHALF OF THE BOARD Fernando E. GanozaCEOAtico Mining Corporation Trading symbols: TSX.V: ATY | OTC: ATCMF Investor RelationsIgor DutinaTel: +1.604.633.9022 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities Act’’), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction. Cautionary Note Regarding Forward Looking Statements This announcement includes certain “forward-looking statements” within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, without limitation the use of net proceeds, are forward-looking statements. Forward- looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs; the need to obtain additional financing to maintain its interest in and/or explore and develop the Company’s mineral projects; uncertainty of meeting anticipated program milestones for the Company’s mineral projects; the world-wide economic and social impact of COVID-19 is managed and the duration and extent of the coronavirus pandemic is minimized or not long-term; disruptions related to the COVID-19 pandemic or other health and safety issues, or the responses of governments, communities, the Company and others to such pandemic or other issues; and other risks and uncertainties disclosed under the heading “Risk Factors” in the prospectus of the Company dated March 2, 2012 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com Non-GAAP Financial Measures The items marked with a "(1)" are alternative performance measures and readers should refer to Non-GAAP Financial Measures in the Company's Management's Discussion and Analysis for the three months ended March 31, 2021 as filed on SEDAR and as available on the Company's website for further details. (1)Alternative performance measures; please refer to “Non-GAAP Financial Measures” at the end of this release.(2)Net of by-product credits(3)Subject to adjustments on final settlement
MONTREAL and SARASOTA, Fla., May 18, 2021 (GLOBE NEWSWIRE) -- Intertape Polymer Group Inc. (TSX:ITP) ("IPG" or "the Company") announced today the pricing of its offering of USD$400 million 4.375% senior unsecured notes due in 2029 (the “Offering”). These notes will be issued at par pursuant to a note indenture to be entered into with Regions Bank, as trustee, at the closing of the Offering. The Company anticipates that the closing of the Offering will occur on or about June 8, 2021. The Company intends to use the net proceeds from the Offering to redeem its currently outstanding USD$250 million 7.00% senior unsecured notes which are scheduled to mature on October 15, 2026 (the “Existing Notes”), to repay a portion of the borrowings outstanding under its existing five-year, USD$600 million credit facility and to pay related fees and expenses, as well as for general corporate purposes. The Offering will be made only by means of an offering memorandum, copies of which may be obtained from the Company. The Offering will be effected by way of private placement sales of the notes in the United States and Canada pursuant to exemptions from the registration and prospectus requirements. The notes have been offered only to qualified institutional buyers in reliance on Rule 144A, under the Securities Act of 1933, as amended, and in offshore transactions pursuant to Regulation S under the Securities Act. The notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release is not a notice of redemption with respect to the Existing Notes and shall not constitute an offer to sell or a solicitation of an offer to purchase any of these securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. About Intertape Polymer Group Inc. Intertape Polymer Group Inc. is a recognized leader in the development, manufacture and sale of a variety of paper and film based pressure-sensitive and water-activated tapes, polyethylene and specialized polyolefin films, protective packaging, engineered coated products and packaging machinery for industrial and retail use. Headquartered in Montreal, Quebec and Sarasota, Florida, the Company employs approximately 3,700 employees with operations in 31 locations, including 21 manufacturing facilities in North America, four in Asia and one in Europe. For information about the Company, visit www.itape.com. Forward-Looking Statements This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (collectively, “forward-looking statements”), which are made in reliance upon the protections provided by such legislation for forward-looking statements. All statements other than statements of historical facts included in this press release, including statements regarding: the completion of the Offering; the principal amount; interest rate and maturity date of the notes being offered in such Offering; and our use of the net proceeds from the Offering; may constitute forward-looking statements. These forward-looking statements are based on current beliefs, assumptions, expectations, estimates, forecasts and projections made by IPG’s management. Words such as “may,” “will,” “should,” “expect,” “continue,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “believe” or “seek” or the negatives of these terms or variations of them or similar terminology are intended to identify such forward-looking statements. Although IPG believes that the expectations reflected in these forward-looking statements are reasonable, these statements are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially from what is expressed, implied or projected in such forward-looking statements, and such differences may be material. These risks and uncertainties include, but are not limited to, our inability, due to market conditions or other reasons, to complete the Offering with the economic terms described above. IPG can give no assurance that these estimates and expectations will prove to have been correct. Readers are cautioned not to place undue reliance on any forward-looking statement. For additional information regarding important factors that could cause actual results to differ materially from those expressed in these forward-looking statements and other risks and uncertainties, and the assumptions underlying the forward-looking statements, you are encouraged to read “Item 3 Key Information - Risk Factors”, “Item 5 Operating and Financial Review and Prospects (Management’s Discussion & Analysis)” and statements located elsewhere in IPG’s annual report on Form 20-F for the year ended December 31, 2020 and the other statements and factors contained in IPG’s filings with the Canadian securities regulators and the US Securities and Exchange Commission. Each of these forward-looking statements speaks only as of the date of this press release. IPG will not update these statements unless applicable securities laws require it to do so. FOR FURTHER INFORMATION CONTACT: Ross Marshall Investor Relations(T) (416) 526-1563(E) email@example.com
Partnership Announced at Google’s Developer Conference, Google I/OSAN FRANCISCO, May 18, 2021 (GLOBE NEWSWIRE) -- Algolia, the leading provider of API Platforms for Dynamic Experiences, today announced it has partnered with Firebase to provide more than 3 million Firebase and Google developers access and seamless integration to Algolia’s search and discovery platform. Backed by Google, Firebase helps developers build and operate Android, iOS, and web apps. “We partnered with Algolia to offer a Firebase extension called Search with Algolia as a direct request from our developer community,” noted Kara Yu, Product Manager at Firebase. “The Firebase extension was built by Algolia and continued development and maintenance will be managed by Algolia. We are excited to help developers accelerate their app development through Firebase Extensions -- pre-packaged, open source bundles of code that automate common development tasks. This is one example where developers can save a lot of time bringing a critical feature into their app.” Algolia’s API-first approach and API client for Firebase brings best-in-class search and discovery to a large, global network of Google and Firebase developers. “No matter what kind of app you’re developing, there is a good chance that you want to help users search and discover something,” added Piyush Patel, Chief Strategic Business Development Officer at Algolia. “Algolia enables developers to personalize and improve search performance, and we are excited to bring this functionality to Firebase developers.” Firebase Extensions help developers increase productivity by letting them quickly add more functionality to their mobile and web apps – including translating text or exporting Cloud Firestore collections to BigQuery. Using Algolia, developers can enable full text search of their Cloud Firestore data. The Search with Algolia extension indexes your Cloud Firestore data to Algolia and keeps it synced. This extension can be configured to work with your specific app by listening to changes on your specified Cloud Firestore collection. When a document is added, the extension indexes it as a record in Algolia. Anytime a document is updated, the extension propagates the update to the corresponding Algolia record. When a document is deleted, the extension removes the corresponding Algolia record. AvailabilityThe Firestore search with Algolia extension is available immediately and can be accessed here. Helpful Links Blog: https://blog.algolia.com/Twitter: https://twitter.com/algoliaLinkedIn: https://www.linkedin.com/company/algolia/Facebook: https://www.facebook.com/algolia/Careers: https://www.algolia.com/careers About AlgoliaAlgolia provides API platforms for dynamic experiences that enable organizations to predict intent and deliver results. Algolia achieves this with an API-first approach that allows developers and business teams to surface relevant content when wanted — satisfying the demand for instant gratification — and building and optimizing online experiences that enhance online engagement, increase conversion rates, and enrich lifetime value to generate profitable growth. More than 10,000 companies including Under Armour, Lacoste, Birchbox, Stripe, Slack, Medium, and Zendesk rely on Algolia to manage over 1.5 trillion search queries a year. Algolia is headquartered in San Francisco with offices in Paris, London, Tokyo, New York, and Atlanta Media ContactShannon CampbellOffleash for Algoliaalgolia@offleashpr.com
Kopin® Corporation (NASDAQ: KOPN), a leading developer and provider of transmissive and reflective active matrix liquid crystal and organic light emitting diode (OLED) microdisplays used in defense, enterprise, industrial, medical and consumer products, today announced that its CEO, Dr. John Fan, will participate in the third segment of a new webinar trilogy entitled "AR and VR: The Paradigm Shift to Smartglasses Starts Now - The future."