It also comes in a two-piece set.
Octopus Apollo VCT plc (“the “Company”) 3 March 2021 Proposed Increase in Size of Offer for Subscription Further to the announcement released by Octopus Apollo VCT plc (the “Company") on 25 September 2020 relating the Company's Offer for Subscription to raise up to £35 (£25 million with an over-allotment facility of a further £10 million) (the “Offer”), in the 2020/2021 and 2021/2022 tax years, the Board of the Company announces today that, due to investor demand, it is proposing to increase the size of the Offer from £35 million to £75 million (the "Offer Increase"). Pursuant to an agreement relating to the Offer Increase between the Company and Octopus Investments Limited, the Company’s investment manager (the “Manager”), this offer increase constitutes a smaller related party transaction within Listing Rule 11.1.10 R, and the Manager will receive: an initial charge of 3 per cent. of the gross funds raised by the Company under the Offer; and a further charge of up to 2.5 per cent of gross funds raised by the Company from investors under the Offer who have not invested their money through a financial intermediary (“Direct Investors”); and an additional ongoing charge of 0.5% per annum of the investment amounts received from Direct Investors for up to nine years, provided the Direct Investors continue to hold the shares. For further information please contact: Graham Venables Octopus Company Secretarial Services Limited 0203 935 3803
(Bloomberg) -- European Central Bank policy makers see no need for drastic action to combat rising bond yields, believing the risk to the economy is manageable with verbal interventions and the flexibility of their asset-purchase program, according to officials familiar with internal discussions.While multiple Governing Council members have spoken out to say that higher yields may be unwarranted and could undermine the euro zone as it struggles with extended pandemic lockdowns, there is no sense of panic, the officials said.A step such as expanding the overall size of their 1.85 trillion-euro ($2.24 trillion) emergency bond-buying program is currently unnecessary, they said. They didn’t say whether the pace of purchases has been stepped up in recent days, using the much-touted flexibility of the tool.One official noted that yields fell on Monday after some policy makers said the ECB would react against unwarranted increases.An ECB spokesman declined to comment.“We should keep a close eye on developments and analyze the reasons. We are of course capable of flexibly adjusting the volume of PEPP implementation at any moment,” Bundesbank President Jens Weidmann said on Wednesday at a press conference, when asked about rising yields. “But in my view there has been no radical deterioration of financing conditions.”Bank of Spain Governor Pablo Hernandez de Cos said at a separate event that rising yields may reflect market expectations of an earlier start to unwinding monetary stimulus, and that “avoiding premature increases in nominal interest rates” is essential.German bonds fell on Wednesday, led by the longest-dated debt, pushing 10-year yields up as much as four basis points to minus 0.31%, before drawing back. The euro climbed 0.1%, before reversing gains to trade 0.2% lower at $1.2063.Executive Board member Fabio Panetta addressed the topic on Tuesday, saying the jump in government-bond yields “is unwelcome and must be resisted.” He also said it is “not too late” to act.A day earlier, French Governing Council member Francois Villeroy de Galhau said that the ECB “can and must react” to any unwarranted moves threatening to undermine the economy. Vice President Luis de Guindos argued that it’s important to understand why bond yields have risen, and said officials “have the flexibility that is needed in order to react.”More policy makers are scheduled to speak on Wednesday, including Bank of Spain Governor Pablo Hernandez de Cos as well as Guindos.Yields on euro-area debt have risen since mid-February, when expectations for reflation kicked a global bond selloff into high gear. Greek and Italian 10-year yields led the charge, climbing about 20 basis points in the past two weeks.Core European debt was also ensnared, with benchmark German yields climbing to levels last seen in March 2020 and French yields turning positive for the first time since June.Higher government bond yields pose a problem for the euro area because they are used by banks as a reference point for lending. The region’s recovery is already expected to be slower than that of many other advanced economies, in part due to its slow vaccine roll-out, and higher borrowing costs could further damp momentum.Yields are being pushed up by a global sell-off of longer-term government bonds originating in the U.S. where prospects of another dose of massive fiscal stimulus are bolstering the economy.Fire FightingFigures published this week surprised investors by showing that the central bank actually slowed purchasing last week, despite President Christine Lagarde saying policy makers are “closely monitoring” the rise in nominal bond yields.Those figures don’t reflect orders made Thursday and Friday, as transactions take a couple of days to settle and show up in the central bank’s accounts. This week’s purchasing data will be published next Monday and Tuesday.Investors have been closely watching for any signs of market intervention by the ECB. Vincent Juvyns, a strategist at JPMorgan Asset Management, said on Bloomberg radio that in contrast to the U.S., where the economy is being boosted by massive stimulus, “it is probably too early to allow rates to rise in Europe.”“I would hope and expect that the ECB would be a bit fire-fighting with additional buying in the coming weeks and months,” he said.(Updates with comment from De Cos in seventh paragraph.)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.
Global Sensitive Toothpaste Market 2021-2025 The analyst has been monitoring the sensitive toothpaste market and it is poised to grow by $ 1. 09 bn during 2021-2025, progressing at a CAGR of 7% during the forecast period.New York, March 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Sensitive Toothpaste Market 2021-2025" - https://www.reportlinker.com/p05770943/?utm_source=GNW Our report on sensitive toothpaste market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the innovations and product line extension and growing awareness of oral and dental health. In addition, innovations and product line extension is anticipated to boost the growth of the market as well.The sensitive toothpaste market analysis includes distribution channel segment and geographical landscapes.The sensitive toothpaste market is segmented as below:By Distribution Channel• Offline• OnlineBy Geographical Landscapes• Europe• North America• APAC• South America• MEAThis study identifies the increase in demand for natural and organic oral care products as one of the prime reasons driving the sensitive toothpaste market growth during the next few years.The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on sensitive toothpaste market covers the following areas:• Sensitive toothpaste market sizing• Sensitive toothpaste market forecast• Sensitive toothpaste market industry analysisThis robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading sensitive toothpaste market vendors that include Church & Dwight Co. Inc., Colgate-Palmolive Co., GlaxoSmithKline Plc, Henkel AG & Co. KGaA, Lion Corp., Oral Essentials Inc., SQUIGLE Inc., Sunstar Suisse SA, The Procter & Gamble Co., and Unilever Group. Also, the sensitive toothpaste market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio’s market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.Read the full report: https://www.reportlinker.com/p05770943/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________ CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001
Shares from Asia to Europe gained on Wednesday, as a retreat in U.S. Treasury yields fuelled demand for riskier assets from oil to bitcoin and kept the dollar pinned down. The Euro STOXX 600 added 0.5%, with Frankfurt shares climbing 1% to a record high and London's FTSE gaining 1.1% before the UK's new budget is introduced, with measures to boost the economy. Euro zone government bond yields were little changed, with the benchmark German 10-year Bund yield flat at -0.34%.
Rishi Sunak has pledged to do ‘whatever it takes’ to help people and businesses through the coronavirus crisis.
MONTREAL, March 03, 2021 (GLOBE NEWSWIRE) -- At its meeting held on March 2, 2021, the Board of Directors of the Laurentian Bank of Canada (TSX: LB) (the “Bank”) declared a regular quarterly dividend of 40 cents per share on the common shares payable on May 1, 2021 to the holders of record at the close of business on April 1, 2021. The above-mentioned dividends are designated as eligible dividends for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation. The above-mentioned shares are eligible shares under the Bank’s Shareholder Dividend Reinvestment and Share Purchase Plan (the “Plan”). Consequently, the holders of such shares may elect to reinvest their dividends in newly issued common shares of the Bank. Such purchases will be made at the applicable investment price as defined in the Plan, less a discount of 2%, and no brokerage commissions or service charges of any kind will apply. In addition, holders of such shares are entitled to make monthly optional cash payments to purchase additional common shares in accordance with the terms of the Plan. For more information, please contact Computershare Trust Company of Canada at 1-800-564-6253. Beneficial or non-registered owners of common and preferred shares must contact their financial institution or broker for instructions on how to participate in the Plan. About Laurentian Bank Financial Group Founded in 1846, Laurentian Bank Financial Group is a diversified financial services provider whose mission is to help its customers improve their financial health. The Laurentian Bank of Canada and its entities are collectively referred to as Laurentian Bank Financial Group (the “Group” or the “Bank”). With more than 2,900 employees guided by the values of proximity, simplicity and honesty, the Group provides a broad range of advice-based solutions and services to its personal, business and institutional customers. With pan-Canadian activities and a presence in the U.S., the Group is an important player in numerous market segments. The Group has $45.2 billion in balance sheet assets and $29.2 billion in assets under administration. Information: Fabrice TremblayAdvisor, CommunicationsOffice: 514 284-4500, extension 40020Mobile: 438 firstname.lastname@example.org
UK contactless payment limit to rise to £100Move, to be announced by Rishi Sunak in the budget, may not be rolled out until later this year The limit on tap-and-go card spending was increased to £45 last year as retailers sought ways to cut the need for physical contact in shops amid the Covid pandemic. Photograph: Bloomberg via Getty Images
SoftBank aims to double user numbers at its PayPay QR code payment app in the next three to four years, an executive at its domestic internet subsidiary Z Holdings told Reuters on Wednesday, as it seeks to extend its lead in cashless payments. PayPay has used SoftBank's sales network and aggressive rebates to attract 36 million users in the three years since launch, driving a shift to push Japanese consumers to digital payments away from their traditional preference for cash. "We want to double the user base during the investment phase," Z Holdings co-CEO Kentaro Kawabe said in a joint interview with fellow co-CEO Takeshi Idezawa.
Napoli failed to turn up to the 4 October fixture after being ordered not to travel by local health authorities following two cases of COVID-19 in their team.
Cyprus plans to launch a register in coming months identifying the owners of thousands of companies on the island, lifting a veil of secrecy on opaque and complex corporate structures that campaigners say can help criminals seeking to hide their loot. Details of thousands of companies domiciled on the island, many thought to have Russian links, will be collected from March 16 to be entered in a so-called Ultimate Beneficial Owner (UBO) register. Supporters say the register, a requirement of European Union anti-money laundering (AML) regulations, could be a game changer for Cyprus, which activists say has in the past been a magnet for those concealing wealth behind brass plate companies, lured by competitive tax rates.
With the pandemic keeping shoppers away from brick-and-mortar retailers and especially malls, Tanger Factory Outlet Centers (NYSE: SKT) posted some surprising numbers in its most recent quarter. On this Motley Fool Live episode, recorded on Feb. 18, Fool contributor Matt Frankel dives into the business of this popular outdoor outlet mall to see what's behind its resilient performance. Matt Frankel: The Brians, we haven't heard from Brian Feroldi yet, but I'd assume the two companies that they are talking about are firing on all cylinders lately.
Northern Trust today announced it has been selected by Osmosis Investment Management (Osmosis) to provide fund administration, global custody and depositary services for the Osmosis Resource Efficient Core Equity (ex-fossil fuels) Fund in a Collective Investment in Transferable Securities (UCITS) Common Contractual Fund (CCF).
ROCHESTER, Mich., March 03, 2021 (GLOBE NEWSWIRE) -- OptimizeRx Corp. (Nasdaq: OPRX), a leading provider of digital health solutions for life science companies, physicians and patients, has been invited to present at the 33rd Annual ROTH Growth Conference being held virtually on March 15-17, 2021. The conference will feature presentations from public and private companies across a variety of industry sectors, followed by one-on-one and small group meetings, as well as expert panels and fireside chats. Past events have featured more than 550 participating companies and drawn more than 5,000 attendees that include institutional investors, analysts, family offices and high-net-worth investors. OptimizeRx pre-recorded video webcast presentation is available today here and via the investor relations section of the company’s website at www.optimizerx.com. OptimizeRx CEO, Will Febbo, will participate in one-on-one meetings with investors and analysts during the conference. He plans to discuss the company’s recently reported record 2020 results, with a 76% increase in revenue to $43.3 million largely driven by what is seen as a permanent shift to more digital enablement. The company also finished the year with a sales pipeline of more than $180 million, including enterprise deals valued at more than $50 million. To submit a registration request, click here. To schedule a one-on-one meeting with OptimizeRx, please contact your ROTH representative. For any questions about the company, contact Ron Both of CMA at (949) 432-7557 or submit your request here. About ROTH Capital PartnersROTH Capital Partners, LLC “ROTH” is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately held and employee owned. For more information on ROTH, please visit www.roth.com. About OptimizeRxOptimizeRx is a digital health company that provides communications solutions for life science companies, physicians and patients. Connecting over half of healthcare providers in the U.S. and millions of patients through a proprietary network, the OptimizeRx digital health platform helps patients afford and stay on medications. The platform unlocks new patient and physician touchpoints for life science companies along the patient journey, from point-of-care, to retail pharmacy, through mobile patient engagement. For more information, follow the company on Twitter, LinkedIn or visit www.optimizerx.com. Important Cautions Regarding Forward-Looking Statements This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended, and such as in section 21E of the Securities Act of 1934, as amended. These forward-looking statements should not be used to make an investment decision. The words 'estimate,' 'possible' and 'seeking' and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition, and other material risks. OptimizeRx ContactDoug Baker, CFOTel (248) 651-6568 email@example.com Media Relations ContactMaira Alejandra, Media Relations ManagerTel (754) firstname.lastname@example.org Investor Relations ContactRon Both, CMATel (949) 432-7557Email Contact
Arab foreign ministers on Wednesday reappointed veteran Egyptian diplomat as the secretary general of the Cairo-based Arab League, Egypt’s state-run news agency reported. Ahmed Aboul Gheit, a former ambassador to the United Nations and Egypt’s last foreign minister under ousted president Hosni Mubarak, won the backing of the Arab foreign ministers meeting in Cairo, MENA's report said. In January, Egypt’s President Abdel Fattah el-Sissi announced that Cairo would nominate Aboul Gheit for a second, five-year term as the chief of the 22-member bloc.
President Biden announced the "type of collaboration between companies we saw in World War Two," with two competitors working together. Merck will help Johnson & Johnson produce its COVID vaccine,...
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The Maine senator is the first Republican to support Biden's historic pick to lead the federal agency with oversight of public lands and tribal obligations.
BROOKINGS, S.D., March 03, 2021 (GLOBE NEWSWIRE) -- Daktronics, Inc. (NASDAQ - DAKT) today reported fiscal 2021 third quarter results. Daktronics reported fiscal 2021 third quarter net sales of $94.1 million, operating loss of $0.2 million, net loss of $0.2 million, and earnings per diluted share of $0.00. This compares to net sales of $127.7 million, operating loss of $9.2 million, net loss of $12.7 million, and $0.28 per diluted share, for the third quarter of fiscal 2020. Fiscal 2021 third quarter orders were $86.9 million, compared to $135.0 million for the third quarter of fiscal 2020. Product order backlog at the end of the fiscal 2021 third quarter was $195 million, compared to $187 million a year earlier and $201 million at the end of the second quarter of fiscal 2021.(1) For the nine months ended January 30, 2021, net sales were $365.2 million, operating income was $16.0 million, net income was $10.7 million, and earnings per diluted share was $0.24 per diluted share. This compares to net sales of $482.8 million, operating income of $3.3 million, net income of $1.6 million, and $0.03 per diluted share for the same period in fiscal 2020. Fiscal 2021 is a 52-week year and fiscal 2020 was a 53-week year; therefore, the nine months ended January 30, 2021 contains operating results for 39 weeks while the nine months ended February 1, 2020 contained operating results for 40 weeks. Sales, orders, and other results of operations were impacted due to the additional week of operations. Cash generated by operating activities in the first nine months of fiscal 2021 was $48.2 million, compared to cash generated of $6.2 million in the first nine months of fiscal 2020. Cash generated by operating activities is primarily derived from cash received from customers, offset by cash payments for inventories, subcontractors, employee related costs, and operating expense outflows. Year-to-date cash provided from operations differed as compared to last year primarily due to a focus on customer collections, decreasing inventory levels, lowering personnel and operating expense outflows as we manage operations through the uncertain COVID times. Cash generation and use can vary based on order timing and levels, varying contractual payment terms from customers, and payments for inventory to meet delivery and installation schedules. Free cash flow, defined as cash provided by or used in operating activities less net investment in property and equipment, was a positive $41.8 million for the first nine months of fiscal 2021, as compared to a negative $7.2 million for the same period of fiscal 2020. Net investment in property and equipment was $6.5 million for the first nine months of fiscal 2021, as compared to $13.4 million for the first nine months of fiscal 2020. Cash, restricted cash, and marketable securities at the end of the third quarter of fiscal 2021 were $81.0 million, which compares to $42.1 million at the end of the third quarter of fiscal 2020 and $41.6 million at the end of fiscal 2020. Borrowings on the line of credit were $15.0 million at the end of the third quarter of fiscal 2021 up from $0 at the end of the third quarter of fiscal 2020 and consistent with the $15.0 million at the end of fiscal 2020. Orders for the third quarter of fiscal 2021 decreased 35.6 percent as compared to the third quarter of fiscal 2020. Orders for the nine months ended January 30, 2021 decreased 27.2 percent as compared to the same period one year ago. Each business unit's order volume was lower in fiscal 2021 due to lower market activity from the resulting economic and business impacts of the COVID-19 pandemic and related timing of large contract orders. Net sales decreased by 26.3 percent in the third quarter of fiscal 2021 as compared to the third quarter of fiscal 2020. Net sales for the nine months ended January 30, 2021 decreased 24.4 percent as compared to the same period one year ago. Net sales decreased in all business units for the same reasons causing order booking declines and due to varied timing in the related conversion to sales based on customer project schedules. Gross profit as a percentage of net sales was 25.4 percent for the third quarter of fiscal 2021 as compared to 19.2 percent a year earlier. The improved gross profit rate in the third quarter of fiscal 2021 is a result of the mix of service agreement and product sales and a $2.1 million litigation claim reversal. In comparison, during the third quarter of fiscal 2020, we experienced adverse impacts of a project with cost overruns and tariff related expenses. Operating expenses for the third quarter of fiscal 2021 were $24.2 million, compared to $33.6 million for the third quarter of fiscal 2020, or a decrease of 28.0 percent. This decline is attributed to our focus on managing our expenses to expected order volumes. Declines in overall operating expenses were attributed to lower personnel related costs, reduced third-party contractor use, lower travel and entertainment activities, and lowered marketing and convention events offset by an increase in bad debt expense. Operating loss as a percent of sales for the quarter was 0.3 percent as compared to an operating loss as a percent of sales of 7.2 percent during the third quarter of fiscal 2020. The effective tax rate expense for the third quarter of fiscal 2021 was 82.0 percent compared to an effective tax rate benefit of 37.9 percent for the third quarter of fiscal 2020. Our fiscal 2021 year-to-date effective rate expense was 21.3 percent compared to fiscal 2020 year-to-date effective rate expense of 51.6 percent. The change in the effective tax rate year-over-year was driven primarily by a decrease in tax credits and other permanent differences as a percentage of estimated current fiscal year pre-tax income. Reece Kurtenbach, chairman, president and chief executive officer, stated, "Our third quarter orders, sales and profit levels are traditionally lighter than other quarters due to the seasonality of our sports business, construction cycles, and the reduced number of production dates due to holidays during the quarter. This year, our results have also been impacted by the pandemic. We continue to monitor the pandemic's impact on the markets we serve. Areas of our business that were impacted the most are those that serve customers in large gathering spaces which includes our sports and entertainment, mass transit, and airport markets. Our Out-of-Home advertising customers were impacted due to a reduction in national advertising spend and have chosen to delay orders. Customers using on-premise applications are less impacted and are continuing to utilize audio visual systems to inform and persuade their audiences during this time. We continue to strategically make choices on levels of capacity and investments in capital assets and development initiatives. We also continued the suspension of dividend and share repurchases to help us maintain stability in liquidity and our cash position." (1) Backlog is not a measure defined by U.S. generally accepted accounting principles ("GAAP"), and our methodology for determining backlog may vary from the methodology used by other companies in determining their backlog amounts. For more information related to backlog, see Part I, Item 1. Business of our Annual Report on Form 10-K for the fiscal year ended May 2, 2020. OutlookKurtenbach added, "Our backlog going into the fourth quarter is strong and we believe the audiovisual industry fundamentals will drive long-term growth for our business. However, the near-term outlook shows areas of contraction and greater volatility. We are focused on promoting our value to new and core markets, while managing our cost structure to meet the uncertain demand. With the COVID-19 vaccine distribution underway, we remain focused on emerging as a stronger organization and to be positioned to capitalize on the recovery from this pandemic." About DaktronicsDaktronics has strong leadership positions in, and is the world's largest supplier of, large-screen video displays, electronic scoreboards, LED text and graphics displays, and related control systems. The company excels in the control of display systems, including those that require integration of multiple complex displays showing real-time information, graphics, animation, and video. Daktronics designs, manufactures, markets and services display systems for customers around the world in four domestic business units: Live Events, Commercial, High School Park and Recreation, and Transportation, and one International business unit. For more information, visit the company's website at: www.daktronics.com, email the company at email@example.com, call (605) 692-0200 or toll-free (800) 843-5843 in the United States, or write to the company at 201 Daktronics Dr., P.O. Box 5128, Brookings, S.D. 57006-5128. Safe Harbor StatementCautionary Notice: In addition to statements of historical fact, this news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and is intended to enjoy the protection of that Act. These forward-looking statements reflect the Company's expectations or beliefs concerning future events. The Company cautions that these and similar statements involve risk and uncertainties which could cause actual results to differ materially from our expectations, including, but not limited to, changes in economic and market conditions, management of growth, timing and magnitude of future contracts and orders, fluctuations in margins, the introduction of new products and technology, the impact of adverse weather conditions, increased regulation and other risks described in the company's SEC filings, including its Annual Report on Form 10-K for its 2020 fiscal year. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligation to update or revise such statements to reflect new circumstances or unanticipated events as they occur. For more information contact:INVESTOR RELATIONS:Sheila M. Anderson, Chief Financial OfficerTel (605) 692-0200Investor@daktronics.com Daktronics, Inc. and SubsidiariesConsolidated Statements of Operations(in thousands, except per share amounts)(unaudited) Three Months Ended Nine Months Ended January 30, February 1, January 30, February 1, 2021 2020 2021 2020 Net sales $94,139 $127,657 $365,150 $482,824 Cost of sales 70,198 103,175 272,134 372,750 Gross profit 23,941 24,482 93,016 110,074 Operating expenses: Selling 12,004 16,552 36,214 51,026 General and administrative 6,389 8,640 20,777 26,698 Product design and development 5,784 8,442 20,053 29,063 24,177 33,634 77,044 106,787 Operating (loss) income (236) (9,152) 15,972 3,287 Nonoperating (expense) income: Interest income 52 233 203 664 Interest expense (92) 13 (249) (53)Other (expense) income, net (913) (331) (2,377) (652) (Loss) income before income taxes (1,189) (9,237) 13,549 3,246 Income tax expense (benefit) (975) 3,497 2,880 1,676 Net (loss) income $(214) $(12,734) $10,669 $1,570 Weighted average shares outstanding: Basic 45,064 45,189 44,908 45,139 Diluted 45,064 45,189 45,061 45,412 (Loss) earnings per share: Basic $0.00 $(0.28) $0.24 $0.03 Diluted $0.00 $(0.28) $0.24 $0.03 Cash dividends declared per share $— $0.05 $— $0.15 Daktronics, Inc. and SubsidiariesConsolidated Balance Sheets(in thousands) January 30, May 2, 2021 2020 (unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents $76,877 $40,398 Restricted cash 3,884 14 Marketable securities 248 1,230 Accounts receivable, net 63,212 72,577 Inventories 72,312 86,803 Contract assets 30,310 35,467 Current maturities of long-term receivables 1,736 3,519 Prepaid expenses and other current assets 7,554 9,629 Income tax receivables 87 548 Property and equipment and other assets available for sale 2,020 1,817 Total current assets 258,240 252,002 Property and equipment, net 61,805 67,484 Long-term receivables, less current maturities 754 1,114 Goodwill 8,262 7,743 Intangibles, net 2,396 3,354 Investment in affiliates and other assets 23,608 27,683 Deferred income taxes 13,382 13,271 Total non-current assets 110,207 120,649 TOTAL ASSETS $368,447 $372,651 Daktronics, Inc. and SubsidiariesConsolidated Balance Sheets (continued)(in thousands) January 30, May 2, 2021 2020 (unaudited) LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $32,692 $47,834 Contract liabilities 53,292 50,897 Accrued expenses 26,664 36,626 Warranty obligations 10,766 9,764 Income taxes payable 2,079 844 Total current liabilities 125,493 145,965 Long-term warranty obligations 15,696 15,860 Long-term contract liabilities 10,587 10,707 Other long-term obligations 23,059 22,105 Long-term income taxes payable 554 582 Deferred income taxes 490 452 Total long-term liabilities 50,386 49,706 TOTAL LIABILITIES 175,879 195,671 SHAREHOLDERS' EQUITY: Common stock 60,575 60,010 Additional paid-in capital 46,091 44,627 Retained earnings 95,759 85,090 Treasury stock, at cost (7,297) (7,470)Accumulated other comprehensive loss (2,560) (5,277)TOTAL SHAREHOLDERS' EQUITY 192,568 176,980 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $368,447 $372,651 Daktronics, Inc. and SubsidiariesConsolidated Statements of Cash Flows(in thousands)(unaudited) Nine Months Ended January 30, February 1, 2021 2020CASH FLOWS FROM OPERATING ACTIVITIES: Net income $10,669 $1,570 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 12,848 13,197 Gain on sale of property, equipment and other assets (244) (6)Share-based compensation 1,563 1,734 Equity in loss of affiliates 1,740 430 Provision for doubtful accounts 1,551 (477)Deferred income taxes, net (21) (223)Change in operating assets and liabilities 20,115 (10,035)Net cash provided by operating activities 48,221 6,190 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (6,935) (13,646)Proceeds from sales of property, equipment and other assets 470 244 Proceeds from sales or maturities of marketable securities 982 24,665 Purchases of and loans to equity investment (1,328) (1,229)Net cash (used in) provided by investing activities (6,811) 10,034 CASH FLOWS FROM FINANCING ACTIVITIES: Principal payments on long-term obligations (431) (2,140)Dividends paid — (6,756)Payments for common shares repurchased — (2,329)Tax payments related to RSU issuances (125) (199)Net cash used in financing activities (556) (11,424) EFFECT OF EXCHANGE RATE CHANGES ON CASH (505) (166)NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 40,349 4,634 CASH, CASH EQUIVALENTS AND RESTRICTED CASH: Beginning of period 40,412 35,742 End of period $80,761 $40,376 Daktronics, Inc. and SubsidiariesNet Sales and Orders by Business Unit(in thousands)(unaudited) Three Months Ended Nine Months Ended January 30, February 1, Dollar Percent January 30, February 1, Dollar Percent 2021 2020 Change Change 2021 2020 Change ChangeNet Sales: Commercial $30,085 $36,880 $(6,795) (18.4)% $94,947 $120,566 $(25,619) (21.2)%Live Events 23,330 40,571 (17,241) (42.5) 112,626 159,196 (46,570) (29.3)High School Park and Recreation 14,644 14,775 (131) (0.9) 71,165 75,433 (4,268) (5.7)Transportation 11,769 13,916 (2,147) (15.4) 41,590 53,264 (11,674) (21.9)International 14,311 21,515 (7,204) (33.5) 44,822 74,365 (29,543) (39.7) $94,139 $127,657 $(33,518) (26.3)% $365,150 $482,824 $(117,674) (24.4)%Orders: Commercial $34,806 $36,898 $(2,092) (5.7)% $92,929 $119,059 $(26,130) (21.9)%Live Events 11,075 41,484 (30,409) (73.3) 93,619 149,461 (55,842) (37.4)High School Park and Recreation 16,366 20,447 (4,081) (20.0) 64,582 73,852 (9,270) (12.6)Transportation 12,991 16,203 (3,212) (19.8) 37,713 55,410 (17,697) (31.9)International 11,650 19,992 (8,342) (41.7) 55,864 75,827 (19,963) (26.3) $86,888 $135,024 $(48,136) (35.6)% $344,707 $473,609 $(128,902) (27.2)% Reconciliation of Free Cash Flow*(in thousands)(unaudited) Nine Months Ended January 30, February 1, 2021 2020Net cash provided by operating activities $48,221 $6,190 Purchases of property and equipment (6,935) (13,646)Proceeds from sales of property and equipment 470 244 Free cash flow $41,756 $(7,212) *In evaluating its business, Daktronics considers and uses free cash flow as a key measure of its operating performance. The term free cash flow is not defined under U.S. generally accepted accounting principles (“GAAP”) and is not a measure of operating income, cash flows from operating activities or other GAAP figures and should not be considered alternatives to those computations. Free cash flow is intended to provide information that may be useful for investors when assessing period to period results.
AUSTIN, Texas, March 03, 2021 (GLOBE NEWSWIRE) -- Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”), a clinical-stage pharmaceutical company developing novel, targeted therapies for rare and difficult to treat cancers, today announced that Marc Hedrick, M.D., President and Chief Executive Officer of Plus Therapeutics, will present at the following upcoming virtual conferences. EventH.C. Wainwright Global Life Sciences ConferenceDateMarch 9-10, 2021PresentationAvailable on demand beginning March 9 EventMaxim Emerging Growth ConferenceDateMarch 17-18, 2021PresentationAvailable on demand beginning March 17 Investors interested in arranging a meeting with the Company’s management for these conferences should contact the respective conference coordinator. Webcast of the H.C. Wainwright conference presentation will be available under the ‘Events’ tab of the Investor Relations section of the Plus Therapeutics website at www.plustherapeutics.com. Access to the Maxim conference presentation will be available HERE. About Plus Therapeutics, Inc. Plus Therapeutics (Nasdaq: PSTV) is a clinical-stage pharmaceutical company whose radiotherapeutic portfolio is concentrated on nanoliposome-encapsulated radionuclides for several cancer targets. Central to the Company’s drug development is a unique nanotechnology platform designed to reformulate, deliver and commercialize multiple drugs targeting rare cancers and other diseases. The platform is designed to facilitate new delivery approaches and/or formulations of safe and effective, injectable drugs, potentially enhancing the safety, efficacy and convenience for patients and healthcare providers. More information may be found at PlusTherapeutics.com and ReSPECT-Trials.com. Cautionary Statement Regarding Forward-Looking Statements This press release contains certain statements that may be deemed “forward-looking statements” within the meaning of U.S. securities laws. All statements, other than statements of historical fact, that address activities, events or developments that we intend, expect, project, believe or anticipate and similar expressions or future conditional verbs such as will, should, would, could or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. These statements include, without limitation, statements about: the Company’s potential to facilitate new delivery approaches and/or formulations of safe and effective, injectable drugs, potentially enhancing the safety, efficacy and convenience for patients and healthcare providers; the Company’s potential to develop drug candidates currently in its product pipeline; and the Company’s potential to develop additional drugs outside of its current pipeline. The forward-looking statements included in this press release are subject to a number of additional material risks and uncertainties, including but not limited to: the risk that the Company is not able to successfully develop product candidates that can leverage the U.S. FDA’s accelerated regulatory pathways; and the risks described under the heading “Risk Factors” in the Company’s Securities and Exchange Commission filings, including in the Company’s annual and quarterly reports. There may be events in the future that the Company is unable to predict, or over which it has no control, and its business, financial condition, results of operations and prospects may change in the future. The Company assumes no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made unless the Company has an obligation under U.S. federal securities laws to do so. Investor ContactPeter VozzoWestwicke/ICR(443) 377-4767 Peter.Vozzo@westwicke.com Media ContactTerri ClevengerWestwicke/ICR(203) 856-4326Terri.Clevenger@westwicke.com