Market Newsdesk

REYKJAVIK, Iceland, May 03, 2023 (GLOBE NEWSWIRE) — Alvotech (NASDAQ: ALVO), a global biotech company specialized in the development and manufacture of biosimilar medicines for patients worldwide, announced today that it will release financial results for the first quarter ended March 31, 2023, after U.S. markets close on Thursday, May 18, 2023.

Following the release, Alvotech will conduct a business update conference call with the investment community on Friday, May 19, 2023, at 8:00 am ET (12:00 pm GMT / 14:00 pm CEST). Live audio of the conference call will be webcast and available to members of the news media, investors and the general public.

Information on how to access the webcast or participate by conference call is posted on Alvotech’s investor website https://investors.alvotech.com and can be found under News and Events – Events and Presentations. The webcast will be archived and available for replay for 90 days after the event on Alvotech’s website under News and Events – Events and Presentations

About Alvotech

Alvotech is a biotech company, founded by Robert Wessman, focused solely on the development and manufacture of biosimilar medicines for patients worldwide. Alvotech seeks to be a global leader in the biosimilar space by delivering high quality, cost-effective products, and services, enabled by a fully integrated approach and broad in-house capabilities. Alvotech’s current pipeline contains eight biosimilar candidates aimed at treating autoimmune disorders, eye disorders, osteoporosis, respiratory disease, and cancer. Alvotech has formed a network of strategic commercial partnerships to provide global reach and leverage local expertise in markets that include the United States, Europe, Japan, China, and other Asian countries and large parts of South America, Africa and the Middle East. Alvotech’s commercial partners include Teva Pharmaceuticals, a US affiliate of Teva Pharmaceutical Industries Ltd. (US), STADA Arzneimittel AG (EU), Fuji Pharma Co., Ltd (Japan), Advanz Pharma (EEA, UK, Switzerland, Canada, Australia and New Zealand), Cipla/Cipla Gulf/Cipla Med Pro (Australia, New Zealand, South Africa/Africa), JAMP Pharma Corporation (Canada), Yangtze River Pharmaceutical (Group) Co., Ltd. (China), DKSH (Taiwan, Hong Kong, Cambodia, Malaysia, Singapore, Indonesia, India, Bangladesh and Pakistan), YAS Holding LLC (Middle East and North Africa), Abdi Ibrahim (Turkey), Kamada Ltd. (Israel), Mega Labs, Stein, Libbs, Tuteur and Saval (Latin America) and Lotus Pharmaceuticals Co., Ltd. (Thailand, Vietnam, Philippines, and South Korea). Each commercial partnership covers a unique set of product(s) and territories. Except as specifically set forth therein, Alvotech disclaims responsibility for the content of periodic filings, disclosures and other reports made available by its partners. For more information, please visit www.alvotech.com. None of the information on the Alvotech website shall be deemed part of this press release.

CONTACTS

Alvotech Investor Relations

Benedikt Stefansson
alvotech.ir[at]alvotech.com

London, May 3, 2023

New Holland Agriculture, a global brand of CNH Industrial, has been awarded a 2023 Green Good Design Award for its T7 Methane Power LNG (Liquefied Natural Gas) prototype tractor.

The awards are organized by the Chicago Athenaeum: Museum of Architecture and Design and The European Centre for Architecture Art Design and Urban Studies. This special GREEN edition of GOOD DESIGN highlights important work that spearheads fully sustainable design, from new international products and buildings to construction and planning projects.

The new T7 prototype furthers our leadership position in the quest for viable alternative fuels. This new LNG system provides four times the fuel storage of our T6 model, the world’s first commercialized compressed natural gas tractor, which more than doubles the autonomy and creates more value for our customers.

We partnered with Bennamann, a UK-based expert whose multi-patented approach converts fugitive methane to clean biofuel – helping support an energy independent and sustainable farm system. When the T7 prototype is integrated within this process, an operation’s overall carbon footprint can be ‘better than zero.’

Blending style, function and sustainability, the prototype features an all-new exterior with remodeled hood and state-of-the-art lighting. Inside the cab, the operator will benefit from a range of improvements: a full-length skydome roof for enhanced visibility, the innovative SideWinder™ Ultra armrest for greater comfort, a larger IntelliView™ 12-inch touchscreen, and ergonomically shaped seats.

The Green Good Design award recognizes our commitment to sustainable design that generates long-term value for our customers.

CNH Industrial

(NYSE: CNHI / MI: CNHI) is a world-class equipment and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally,

Case IH

and

New Holland Agriculture

supply 360° agriculture applications from machines to implements and the digital technologies that enhance them; and

CASE

and

New Holland Construction Equipment

deliver a full lineup of construction products that make the industry more productive. The Company’s regionally focused Brands include:

STEYR

, for agricultural tractors;

Raven

, a leader in digital agriculture, precision technology and the development of autonomous systems;

Flexi-Coil

, specializing in tillage and seeding systems;

Miller

, manufacturing application equipment;

Kongskilde

, providing tillage, seeding and hay & forage implements; and

Eurocomach,

producing a wide range of
mini and midi excavators for the construction sector, including electric solutions.

Across a history spanning over two centuries, CNH Industrial has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success. As a truly global company, CNH Industrial’s 40,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.

For more information and the latest financial and sustainability reports visit:

cnhindustrial.com

For news from CNH Industrial and its Brands visit:

media.cnhindustrial.com

Media contacts:

Rebecca Fabian	Anna Angelini
North America	United Kingdom
Tel. +1 312 515 2249	Tel. +44 (0)7725 826 007

[email protected]

Attachments

• 20230502_PR_CNH_Industrial_Green_Good_Design_Award
• New Holland Agriculture T7 LNG Tractor
• New Holland Agriculture T7 LNG Tractor
• New Holland Agriculture T7 LNG Tractor

CHARLOTTE, N.C., May 03, 2023 (GLOBE NEWSWIRE) — LPL Financial LLC announced today that financial advisor Nate Carlon of Carlon Wealth Advisors has joined LPL Financial’s broker-dealer, RIA and custodial platforms. He reported having served approximately $300 million in advisory, brokerage and retirement plan assets*, and joins LPL from Stifel Financial.

Based in Scottsdale, Ariz., Carlon is well-versed in many aspects of the financial landscape, having started his career in banking and then serving as a fixed income specialist before he built his wealth management practice over the past 15 years. He uses knowledge from past professional experiences to deliver personalized financial advice and investment strategies designed to help each client work toward their financial goals. Carlon Wealth Advisors also includes highly dedicated team members: Client Services Manager Lora McLaughlin and Jono Carlon, Wealth Operations Analyst and Nate’s brother.

In recent years, Carlon has coined a phrase that he often shares with clients: “Life is complex, and change is real. Today’s environment requires a new kind of relationship. We can help you chart a course today to pursue your tomorrow.” That mission led the team to LPL Financial, where they plan to enhance their service commitment to current and future clients by utilizing innovative tools and technology and a broad platform of investment solutions.

“We want to elevate the client experience by incorporating robust technology and unique communication efforts to strengthen bonds, better educate the client and better manage goals and expectations,” Carlon said. “We felt LPL provides the best flexibility and resources to help our clients navigate change. We were especially drawn to LPL’s focus on driving advisor success, which in turn drives success for the clients. Additionally, LPL’s integrated platform gives us the greatest amount of flexibility to build out our firm in a manner that we feel best suits our clients.”

Ultimately, Carlon wants his clients to feel like they’re part of something unique and special by engaging them in educational events, client appreciation events and community focused activities. “If they can understand what’s going on with the market and study the reports we developed for them, and also have a little fun along the way, we believe that will give clients the best possible experience. And that’s what matters most,” Carlon said.

Scott Posner, LPL Executive Vice President, Business Development, stated, “We welcome Nate to the LPL community. We are proud to be his partner by delivering innovative resources and robust business solutions that can help him engage more with clients and be successful at every stage of his business’ lifecycle. We will continue to leverage our scale to bring value to advisors, providing them with time-saving, integrated capabilities so they can focus on helping their clients pursue their lifelong financial goals and aspirations. We look forward to a long-lasting relationship with the entire team at Carlon Wealth Advisors.”

Related

Advisors, find an LPL business development representative near you.

About LPL Financial


LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets we serve, supporting more than 21,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 500 registered investment advisor (“RIA”) firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.

*Value approximated based on asset and holding details provided to LPL from year-end 2022.

LPL Financial and its affiliated companies provide financial services only from the United States.

Securities and advisory services offered through LPL Financial LLC, an SEC-registered broker-dealer and investment advisor. Member FINRA/SIPC. Carlon Wealth Advisors and LPL Financial are separate entities.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial LLC.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

Connect with Us!

https://twitter.com/lpl

https://www.linkedin.com/company/lpl-financial

https://www.facebook.com/LPLFinancialLLC

https://www.youtube.com/user/lplfinancialllc

Media Contact:


[email protected] 
(704) 996-1840

Tracking #1-05368218

CHARLOTTE, N.C., May 03, 2023 (GLOBE NEWSWIRE) — FG Group Holdings Inc. (NYSE American: FGH) (the “Company” or “FG Group Holdings”) today announced that Strong Technical Services (“STS”) has been selected by Bow Tie Management as its exclusive technical support partner. In this capacity, STS will support Bow Tie’s locations across the United States by providing installation, on-site servicing, and audio solutions.

Travis Henning, Sales Director of Strong Technical Services, commented, “Strong Technical Services is proud to be selected as Bow Tie Management’s exclusive partner for technical support. Our field technicians located throughout the United States align perfectly with Bow Tie locations and we are excited to deliver top notch field service and remote NOC support.”

Joseph Masher, Owner and Operating Partner of Bow Tie Management, commented, “We at Bow Tie Management are excited to partner with Strong Technical Services as we enter into a new period of growth for our theater circuit.  We’re looking forward to their expertise in maintaining our existing projection and sound infrastructure while simultaneously exploring the next wave of presentation technology.”

“We are honored to support Joe and Bow Tie Management. Strong has invested in expanding and training our team the last two years to become a trusted partner for our exhibition customers,” said Blake Titman, Senior Vice President and General Manager of Strong Technical Services. “Our service, installation, engineering, and sales solutions are unmatched, and we thank Joe for trusting us with the exclusive facilitation of technical support across all Bow Tie Management locations.”

About FG Group Holdings Inc.

FG Group Holdings Inc. (https://fg.group/) is a diversified holding company with operations and holdings across a broad range of industries. The Company’s Strong Entertainment segment is the largest premium screen supplier in North America, provides technical support services and related products and services to the cinema exhibition industry, and recently launched its studio operations to produce content for streaming and other entertainment outlets. FG Group Holdings also holds equity stakes in Firefly Systems, Inc., GreenFirst Forest Products Inc. (TSX: GFP), and FG Financial Group, Inc. (Nasdaq: FGF), as well as real estate through its Digital Ignition operating business.

About Bow Tie Management

Bow Tie Management provides turnkey management services to existing movie theaters and entertainment venues, with an innovative theater circuit made up of a combination of leased and managed locations. The company was founded as a partnership between entertainment industry veterans Joseph Masher and Steve Ventor, and Bow Tie Cinemas, the oldest cinema company in North America. Bow Tie Management continues to spread into other facets of the entertainment industry with several family and luxury entertainment concepts currently in development.

About Fundamental Global®

Fundamental Global® is a private partnership focused on long-term strategic holdings. Fundamental Global® was co-founded by former T. Rowe Price, Point72 and Tiger Cub portfolio manager Kyle Cerminara and former Chairman and CEO of TD Ameritrade, Joe Moglia. Its current holdings include FG Financial Group Inc. (Nasdaq:FGF), (NASDAQ: FGFPP), FG Group Holdings Inc. (NYSE American:FGH), BK Technologies Corp., GreenFirst Forest Products, Inc. (TSX:GFP), FG Merger Corp. (Nasdaq:FGMC), FG Acquisition Corp. (TSX:FGAA), OppFi Inc., Hagerty Inc., and FG Communities, Inc.

The FG® logo is a registered trademark of Fundamental Global®.

Forward Looking Statements

In addition to the historical information included herein, this press release includes forward-looking statements, which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on March 16, 2023, and the following risks and uncertainties: the Company’s ability to maintain and expand its revenue streams to compensate for the lower demand for the Company’s digital cinema products and installation services; potential interruptions of supplier relationships or higher prices charged by suppliers; the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; the Company’s ability to successfully execute its capital allocation strategy or achieve the returns it expects from these holdings; the Company’s ability to maintain its brand and reputation and retain or replace its significant customers; challenges associated with the Company’s long sales cycles; the impact of a challenging global economic environment or a downturn in the markets; the effects of economic, public health, and political conditions that impact business and consumer confidence and spending, including rising interest rates, periods of heightened inflation and market instability, the outbreak of any highly infectious or contagious diseases, such as COVID-19 and its variants or other health epidemics or pandemics, and armed conflicts, such as the ongoing military conflict in Ukraine and related sanctions; economic and political risks of selling products in foreign countries (including tariffs); risks of non-compliance with U.S. and foreign laws and regulations, potential sales tax collections and claims for uncollected amounts; cybersecurity risks and risks of damage and interruptions of information technology systems; the Company’s ability to retain key members of management and successfully integrate new executives; the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms, or at all; the impact of economic, public health and political conditions on the companies in which the Company holds equity stakes; the Company’s ability to utilize or assert its intellectual property rights, the impact of natural disasters and other catastrophic events, whether natural, man-made, or otherwise (such as the outbreak of any highly infectious or contagious diseases, or armed conflict); the adequacy of the Company’s insurance; the impact of having a controlling stockholder and vulnerability to fluctuation in the Company’s stock price. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Many of the risks listed above have been, and may further be, exacerbated by the impact of economic, public health (such as a resurgence of the COVID-19 pandemic) and political conditions (such as the military conflict in Ukraine) that impact consumer confidence and spending, particularly in the cinema, entertainment, and other industries in which the Company and the companies in which the Company holds an equity stake operate, and the worsening economic environment. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

Investor Relations Contacts

Mark Roberson	John Nesbett / Jennifer Belodeau
FG Group Holdings Inc. – Chief Executive Officer	IMS Investor Relations
(704) 994-8279	(203) 972-9200
[email protected]	[email protected]

FLINT, Mich., May 03, 2023 (GLOBE NEWSWIRE) — Verizon has recently made major upgrades to the network serving customers in Flint, MI. These upgrades are part of a multi-year redesign of its network architecture to stay ahead of exponential data usage increases, upgrade the technology in the network, and to pave the way for personalized customer experiences. Network upgrades in Flint include deploying new cell sites to extend coverage and capacity in local communities. They also include adding more capacity on fiber optic cables to move more data through the network and adding bandwidth to the cellular network to accommodate new services like wireless internet service for homes and businesses. Specifics on the upgrades include:

• 85% of people in the Flint area are covered with 5G Ultra Wideband service. That coverage has been expanded recently with the addition of new macro cell sites and small cell sites. Customers near North Center and Richfield rds, South of Linden and Grand Blanc are now able to experience the speed and security of 5G Ultra Wideband service. In the coming months, additional enhancements will be made to increase capacity near Flushing, Montrose and the Flint core, to help manage the exponential increase in data usage Verizon is seeing from customers in those areas.
• Flint’s exceptional 5G coverage uses a combination of mmWave spectrum and Verizon’s recently acquired C-band spectrum. Verizon engineers have been using up to 100 MHz of C-band spectrum to deliver 5G service to customers. By the end of the year, customers in Flint will be able to take advantage of even more spectrum as it becomes available for 5G Ultra Wideband. That additional bandwidth will turbo charge the service, offering significantly higher speeds, much greater capacity to accommodate more customers and more robust services.
• Lastly, the addition of 5G service and the many additional wireless solutions allow far more data to travel on the wireless network in Flint. That exponential increase in data carried into and out of the cell sites serving the community requires upgraded fiber optic cable links. Fiber optic cables are used to move data between cell sites and connect those sites to the rest of the network. Verizon has increased the capacity on the fiber connections in many cell sites in the Flint area so they can carry 10 times the amount of data. 

“Whether our customers are enjoying connecting with friends and family while on the move, connecting their smart homes through one of our home internet products or using our service in Flint for small business or enterprise applications, we know customers count on us,” said Dean Brauer, Vice President of Engineering and Operations for Verizon. “Our team has been working hard in Flint to deliver these results, and we are not slowing down.”

With these and other technology advancements on Verizon’s network, customers are able to use more data in more ways. This multi-service network powers:

• Internet-of-Things (IoT) devices that do very little networking and stay in place,
• smartphones with infinite opportunities to use data in a highly mobile environment,
• home and business internet which provides connectivity via the wireless network for homes, offices and retail environments, and
• complex solutions like Augmented Reality or enterprise real-time video and data analysis that require massive computing capabilities. 

As 5G technology advances and is even more widely adopted by consumers the variety of solutions that will use Verizon’s network will continue to evolve as well.

Flint, MI customers have the best experience on Verizon’s network

The recent network upgrades have led to customers having the best experience on the Verizon network in Flint, MI according to the nation’s most rigorous scientific testing company RootMetrics^®. In the most recent test measuring performance of major wireless carriers throughout Flint, Verizon not only wins for overall network performance, but is unbeaten in every single category tested including accessibility, reliability, speed and performance in data, texts and calls. Today’s results show great speeds for Verizon customers in Flint with Verizon’s median upload speed increasing 23% since last year* in the market and peak download speeds of up to 273 Mbps.

Services from the network customers rely on

For customers in Flint, the additional coverage and capacity means more customers now have access not only to reliable, fast mobile service, but also Verizon Home Internet service, a different kind of home internet with no data caps. It’s ideal for anyone who wants super fast connectivity to stream, game or even work remotely. Verizon Home Internet is reliable and fast enough to power home connected devices: smart TVs, tablets, phones, gaming consoles and more. Plans start at just $25 per month with AutoPay and a select 5G mobile plan – all without extra fees, equipment charges, annual contracts or data caps.** Go to verizon.com/home for availability. Visit verizon.com/deals For the latest 5G phones and accessories.

Additionally, through Verizon Frontline, the advanced network and technology developed over three decades of partnership with first responders to meet their unique and evolving needs, public safety agencies in the Flint area will also be able to experience the benefits of these network enhancements.  To learn more about Verizon Frontline, visit verizon.com/frontline.

Flint area businesses have access to 5G Business Internet from Verizon. 5G Business Internet is ultra-fast wireless business internet powered by 5G Ultra Wideband. This wireless alternative to cable internet is for businesses of all sizes and includes self-setup or professional installation options, multiple pricing and service options, unlimited data, and a 10-year price guarantee (price guarantee excludes taxes and fees) for 5G Business Internet service.  To learn more about Verizon 5G Business Internet, visit verizon.com/5gbusinessinternet and plug in an address to see what service is available.

*Rankings based on the RootMetrics^®
Flint
RootScore^® Report: 1H 2023. Tested with best commercially available smartphones on three mobile networks across all available network types. Your experiences may vary. The RootMetrics award is not an endorsement of Verizon.

**Verizon Home Internet includes
5G Home Internet and LTE Home Internet services, which are available in select areas. Save $25/mo. when combined with an existing 5G Do More, 5G Play More, 5G Get More or One Unlimited for iPhone plan. With Auto Pay and paper-free billing req’d. Add’l $10/mo. w/o Auto Pay. Subject to credit approval.

MEDIA CONTACT:
Karen Schulz
864.561.1527
[email protected]

	–	First year-over-year increase in net sales since the third quarter of 2021 and the second since the third quarter of 2018
	–	Hong Kong net sales increased 10% compared to the first quarter of 2022
	–	Fourth consecutive quarter of positive net income
	–	Declared a quarter cash dividend of $0.20 per share

HONG KONG, May 03, 2023 (GLOBE NEWSWIRE) — Natural Health Trends Corp. (NASDAQ: NHTC), a leading direct-selling and e-commerce company that markets premium quality personal care, wellness and “quality of life” products under the NHT Global brand, today announced its financial results for the quarter ended March 31, 2023.

First Quarter 2023 Financial Highlights

• Revenue of $11.9 million increased 3% compared to $11.5 million in the first quarter of 2022.

• Operating loss was $394,000 compared to $383,000 in the first quarter of 2022.

• Net income was $257,000, or $0.02 per diluted share, compared to net loss of $105,000, or $0.01 per diluted share, in the first quarter of 2022.

• The number of Active Members1 was down slightly to 38,330 at March 31, 2023 compared to 38,660 at December 31, 2022, and decreased 14% compared to 44,490 at March 31, 2022.

1

Natural Health Trends defines Active Members as those that have placed at least one product order with the Company during the preceding twelve-month period.

Management Commentary

“Despite the end of the Zero-Covid policies last December, our experience is that consumers have been slow and gradual to participate in the reopening. In this more positive environment, we are encouraged that our Hong Kong business has shown good progress as revenue increased 3% year-over-year, the first year-over-year increase since the third quarter of 2021 and the second increase since the third quarter of 2018,” commented Chris Sharng, President of Natural Health Trends Corp.

Mr. Sharng continued, “If the current trend of an improving operating environment continues, we are hopeful that our business can benefit from the prospect that people are more willing to meet, gather and travel, all important activities to how we facilitate our business development.”

Balance Sheet and Cash Flow

• Net cash used in operating activities was $696,000 in the first quarter of 2023, compared to net cash used in operating activities of $2.3 million in the first quarter of 2022.

• Total cash and cash equivalents were $66.6 million at March 31, 2023, down from $69.7 million at December 31, 2022.

• On May 1, 2023, the Company’s Board of Directors declared a quarterly cash dividend of $0.20 on each share of common stock outstanding. The dividend will be payable on May 26, 2023 to stockholders of record as of May 16, 2023.

First Quarter 2023 Financial Results Conference Call

Management will host a conference call to discuss the first quarter 2023 financial results today, Wednesday, May 3, 2023 at 11:30 a.m. Eastern Time. The conference call details are as follows:

Date:	Wednesday, May 3, 2023
Time:	11:30 a.m. Eastern Time / 8:30 a.m. Pacific Time
Dial-in:	1-877-407-0789 (Domestic) 1-201-689-8562 (International)
Conference ID:	13737199
Webcast:	https://viavid.webcasts.com/starthere.jsp?ei=1605531&tp_key=86671cf781

For those unable to participate during the live broadcast, a replay of the call will also be available from 2:30 p.m. Eastern Time on May 3, 2023 through 11:59 p.m. Eastern Time on May 10, 2023 by dialing 1-844-512-2921 (domestic) and 1-412-317-6671 (international) and referencing the replay pin number: 13737199.

About Natural Health Trends Corp.

Natural Health Trends Corp. (NASDAQ: NHTC) is an international direct-selling and e-commerce company operating through its subsidiaries throughout Asia, the Americas, and Europe. The Company markets premium quality personal care products under the NHT Global brand. Additional information can be found on the Company’s website at www.naturalhealthtrendscorp.com.

Forward-Looking Statements

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 — Forward-looking statements in this press release do not constitute guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that could cause the Company’s actual results to differ materially from those anticipated. Such risks and uncertainties include the risks and uncertainties detailed under the caption “Risk Factors” in Natural Health Trends Corp.’s Annual Report on Form 10-K filed on March 3, 2023 with the Securities and Exchange Commission (SEC), as well as in subsequent reports filed this year with the SEC. The Company assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

NATURAL HEALTH TRENDS CORP.

CONSOLIDATED BALANCE SHEETS

(In thousands, except share data) 

		March 31, 2023				December 31, 2022
		(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents		$	66,610			$	69,667
Inventories			4,982				4,525
Other current assets			3,420				3,359
Total current assets			75,012				77,551
Property and equipment, net			354				394
Operating lease right-of-use assets			3,909				3,992
Restricted cash			38				79
Deferred tax asset			253				195
Other assets			616				606
Total assets		$	80,182			$	82,817
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	1,147			$	810
Income taxes payable			3,012				2,972
Accrued commissions			2,470				2,943
Other accrued expenses			1,105				1,181
Deferred revenue			5,617				5,597
Amounts held in eWallets			4,657				4,895
Operating lease liabilities			1,158				1,135
Other current liabilities			859				905
Total current liabilities			20,025				20,438
Income taxes payable			9,098				9,098
Deferred tax liability			140				141
Operating lease liabilities			2,869				2,989
Total liabilities			32,132				32,666
Stockholders’ equity:
Preferred stock			—				—
Common stock			13				13
Additional paid-in capital			84,519				86,102
Accumulated deficit			(11,103	)			(9,056	)
Accumulated other comprehensive loss			(1,104	)			(1,004	)
Treasury stock, at cost			(24,275	)			(25,904	)
Total stockholders’ equity			48,050				50,151
Total liabilities and stockholders’ equity		$	80,182			$	82,817

NATURAL HEALTH TRENDS CORP. 

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(In thousands, except per share data)

		Three Months Ended March 31,
		2023				2022
Net sales		$	11,861			$	11,546
Cost of sales			3,031				2,908
Gross profit			8,830				8,638
Operating expenses:
Commissions expense			4,992				4,740
Selling, general and administrative expenses			4,232				4,281
Total operating expenses			9,224				9,021
Loss from operations			(394	)			(383	)
Other income, net			681				110
Income (loss) before income taxes			287				(273	)
Income tax provision (benefit)			30				(168	)
Net income (loss)		$	257			$	(105	)
Net income (loss) per common share:
Basic		$	0.02			$	(0.01	)
Diluted		$	0.02			$	(0.01	)
Weighted average common shares outstanding:
Basic			11,424				11,254
Diluted			11,428				11,254

NATURAL HEALTH TRENDS CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(In thousands)

		Three Months Ended March 31,
		2023				2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		$	257			$	(105	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization			46				53
Share-based compensation			46				—
Noncash lease expense			280				302
Deferred income taxes			(57	)			(9	)
Changes in assets and liabilities:
Inventories			(490	)			350
Other current assets			(78	)			(332	)
Other assets			(18	)			(3	)
Accounts payable			338				64
Income taxes payable			40				53
Accrued commissions			(465	)			(1,129	)
Other accrued expenses			(76	)			(592	)
Deferred revenue			43				(447	)
Amounts held in eWallets			(215	)			(253	)
Operating lease liabilities			(301	)			(296	)
Other current liabilities			(46	)			(4	)
Net cash used in operating activities			(696	)			(2,348	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment			(7	)			(40	)
Net cash used in investing activities			(7	)			(40	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid			(2,304	)			(2,285	)
Net cash used in financing activities			(2,304	)			(2,285	)
Effect of exchange rates on cash, cash equivalents and restricted cash			(91	)			(228	)
Net decrease in cash, cash equivalents and restricted cash			(3,098	)			(4,901	)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period			69,746				84,365
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period		$	66,648			$	79,464
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Right-of-use assets obtained in exchange for operating lease liabilities		$	(78	)		$	—

CONTACT:

Scott Davidson
Senior Vice President and Chief Financial Officer
Natural Health Trends Corp.
Tel (Hong Kong): +852-3107-0800
Tel (U.S.): 310-541-0888
[email protected]

BOSTON, May 03, 2023 (GLOBE NEWSWIRE) — Flywire Corporation (Nasdaq: FLYW)(“Flywire” or the “Company”) a global payments enablement and software company, today announced that the Company’s management team will be attending the following upcoming investor conferences:

• On Tuesday, May 23, 2023, the Company will attend the J.P. Morgan Global Technology, Media and Communications Conference in Boston, MA. They will participate in a fireside chat discussion which will begin at 3:55pm ET.
• On Wednesday, June 7, 2023, the Company will attend the William Blair Growth Stock Conference in Chicago, IL. They will participate in a fireside chat discussion which will begin at 3:20pm CT.
• On Tuesday, June 13, 2023, the Company will attend the RBC Capital Markets FinTech Conference in New York, NY.

The fireside chat discussions will be webcast live from Flywire’s investor relations website at https://ir.flywire.com/. A replay of the webcasts will be available on the investor relations website for 90 days following the discussions.

About Flywire

Flywire is a global payments enablement and software company. We combine our proprietary global payments network, next-gen payments platform and vertical-specific software to deliver the most important and complex payments for our clients and their customers.

Flywire leverages its vertical-specific software and payments technology to deeply embed within the existing A/R workflows for its clients across the education, healthcare and travel vertical markets, as well as in key B2B industries. Flywire also integrates with leading ERP systems, such as NetSuite, so organizations can optimize the payment experience for their customers while eliminating operational challenges.

Flywire supports more than 3,100 clients with diverse payment methods in 140 currencies across 240 plus countries and territories around the world. The company is headquartered in Boston, MA, USA with global offices. For more information, visit www.flywire.com. Follow Flywire on Twitter, LinkedIn and Facebook.

Contacts

Investor Relations:
Akil Hollis
[email protected]

Media:
Sarah King
[email protected]

Prosek Partners
[email protected]