Market Newsdesk

NEW YORK, March 22, 2023 (GLOBE NEWSWIRE) — Cumulus Media’s Westwood One (NASDAQ: CMLS), the largest audio network in the U.S. and the official network audio broadcast partner of the NCAA, will present exclusive live coverage of the NCAA Division I Women’s Basketball Championship beginning on Friday, March 24 and Saturday, March 25 with the Sweet Sixteen®. Coverage will continue on Sunday and Monday with the Elite Eight® and culminate with the Women’s Final Four® on Friday, March 31, and the women’s national championship game on Sunday, April 2, from Dallas.

Westwood One’s broadcast crew for the Women’s Final Four and National Championship will consist of Ryan Radtke as play-by-play announcer, Debbie Antonelli as lead analyst, and Krista Blunk as courtside reporter. This will be Antonelli’s 20th season as lead analyst and 27th season overall with the network. Blunk has been an analyst for the network since 2005 and has served as courtside reporter for the Women’s Final Four every season since 2012.

Fans can access all the action on AM/FM radio, on SiriusXM, and on westwoodonesports.com. Additionally, the broadcasts will be available for free via the NCAA March Madness Women’s Basketball app or The Varsity Network app. Fans can also access live audio via Alexa-enabled devices by asking to “Open Westwood One Sports”. TuneIn premium subscribers can also hear all the action live.

Westwood One’s Complete 2023 NCAA Women’s Tournament Coverage Schedule:

• Sweet 16 Doubleheaders:         
  • Friday, March 24
    • 2:15 p.m. ET – Greenville, SC
      • (9) Miami (FL) vs. (4) Villanova
      • (3) LSU vs. (2) Utah
    • 7:15 p.m. ET – Seattle, WA
      • (6) Colorado vs. (2) Iowa
      • (8) Ole Miss vs. (5) Louisville
  • Saturday, March 25th
    • 11:15 a.m. ET – Greenville, SC
      • (3) Notre Dame vs. (2) Maryland
      • (4) UCLA vs. (1) South Carolina
    • 3:45 p.m. ET – Seattle, WA
      • (3) Ohio State vs. (2) UConn
      • (4) Tennessee vs. (1) Virginia Tech
• Elite 8 Doubleheader:         
  • Sunday, March 26^th
    • 6:45 p.m. ET
      • Miami (FL)/Villanova winner vs. LSU/Utah winner
      • Colorado/Iowa winner vs. Ole Miss/Louisville winner
  • Monday, March 27^th
    • 6:45 p.m. ET
      • Notre Dame/Maryland winner vs. UCLA/South Carolina winner
      • Ohio State/UConn winner vs. Tennessee/Virginia Tech winner
• Final Four:
  • Friday, March 31^st at 6:30 p.m. ET
• National Championship Game:         
  • Sunday, April 2^nd at 3:00 p.m. ET

For a complete schedule of games, announcer bios, exclusive audio content, and a list of radio stations airing Westwood One’s broadcast of the NCAA Women’s Division I Basketball Championship, log on to westwoodonesports.com.

Westwood One is the exclusive broadcast radio, digital audio, distribution, and licensing partner for the NCAA Championships.

Westwood One has broadcast the NCAA Women’s Final Four and Championship for more than 25 years. In addition, the network has broadcast the NCAA Men’s Basketball Tournament since 1982 and every game of March Madness® on multiple platforms since 2005.

NCAA, First Four, Sweet Sixteen, Elite Eight, Final Four, and March Madness are registered trademarks of the National Collegiate Athletic Association.

About Westwood One Sports

Westwood One Sports is home to some of the most exciting sports broadcasts on radio. In addition to NCAA Basketball, including the NCAA Men’s and Women’s Championships and the Final Four; it is also the exclusive provider of the Men’s and Women’s Frozen Four, the Men’s and Women’s Lacrosse Championship, and the Men’s and Women’s College World Series. Westwood One has been the exclusive network radio partner to the NFL since 1987. Westwood One also distributes and represents CBS Sports Radio. On social media, join the Westwood One Sports community on Twitter at twitter.com/westwood1sports. For more information, visit www.westwoodonesports.com.

About Cumulus Media

Cumulus Media (NASDAQ: CMLS) is an audio-first media company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. Cumulus Media engages listeners with high-quality local programming through 404 owned-and-operated radio stations across 85 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other world-class partners across more than 9,400 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the Cumulus Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. Cumulus Media provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. Cumulus Media is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit www.cumulusmedia.com.

About the NCAA

The NCAA is a diverse association of more than 1,100 member colleges and universities that prioritize academics, well-being and fairness to create greater opportunities for nearly half a million student-athletes each year. The NCAA provides a pathway to higher education and beyond for student-athletes pursuing academic goals and competing in NCAA sports. More than 54,000 student-athletes experience the pinnacle of intercollegiate athletics by competing in NCAA championships each year. Visit ncaa.org and ncaa.com for more details about the Association and the corporate partnerships that support the NCAA and its student-athletes. The NCAA is proud to have AT&T, Capital One and Coca-Cola as official corporate champions and the following elite companies as official corporate partners: Aflac, Buffalo Wild Wings, Buick, Dick’s Sporting Goods, Great Clips, Invesco, LG, Marriott Bonvoy, Nabisco, Nissan, Pizza Hut, Reese’s, TurboTax, Unilever and Wendy’s.

Contact: Karen Glover | Westwood One | [email protected]

Annual Financial Highlights

• Annual revenues of $17.8 million for 2022 improved by 10.4% from the prior year.
• Annual operating income of $2.4 million for 2022 was the highest since 2014.
• Annual net cash flows provided by operating activities were $2.5 million in 2022.
• Annual pre-tax income of $2.6 million, net income of $3.5 million and Pre-Corporate EBITDA of $3.9 million for 2022.
• $12.0 million cash and cash equivalents at December 31, 2022 was the highest balance at the end of any quarterly or annual period in Company history
• Annual gross billings of $70.0 million for 2022 improved 17.9% from the prior year.

(in thousands)	Q4 22			Q4 21		YOY Change	Year Ended 2022		Year Ended 2021			YOY Change
Total Revenues	$	4,091		$	4,294	(4.7%)	$	17,780		$	16,102	10.4%
Operating (Loss) Income		(166	)		149	(211.4%)		2,419			2,158	12.1%
(Loss) Income Before Provision for Taxes		(214	)		151	(241.7%)		2,575			5,341	(51.8%)
Net (Loss) Income		(18	)		23	(178.3%)		3,529			4,518	(21.9%)
Gross Billings**		16,471			15,218	8.2%		66,984			56,813	17.9%
EBITDA**		(168	)		268	(162.7%)		2,776			6,247	(55.6%)
Adjusted EBITDA**		(96	)		894	(110.7%)		2,802			3,649	(23.2%)
Pre-Corporate EBITDA**		274			1,148	(76.1%)		3,895			4,546	(14.3%)
**Non-GAAP measures referenced are detailed in the disclosures at the end of this release.

DALLAS, March 22, 2023 (GLOBE NEWSWIRE) — Wilhelmina International, Inc. (Nasdaq: WHLM) (“Wilhelmina” or the “Company”) today reported revenues of $4.1 million and net loss of $18 thousand for the three months ended December 31, 2022, compared to revenues of $4.3 million and net income of $23 thousand for the three months ended December 31, 2021. For the fiscal year ended December 31, 2022, Wilhelmina reported revenues of $17.8 million and net income of $3.5 million compared to revenue of $16.1 million and net income of $4.5 million for the fiscal year ended December 31, 2021.

Decreased revenues during the fourth quarter of 2022 were primarily due to lower core modeling bookings in the United States and London. Increased revenues during the full year ended December 31, 2022 were primarily due to increased bookings as the cities where Wilhelmina operates reopened and business activity increased as COVID-19 restrictions were moderated or rescinded.   In 2022, net income was significantly impacted by the release of a $1.5 million valuation allowance on the Company’s deferred tax assets. In 2021, net income was significantly impacted by gain on forgiveness of PPP loans and employee retention payroll tax credits.

Financial Results

Net loss for the three months ended December 31, 2022 was $18 thousand, or $0.00 per fully diluted share, compared to net income of $23 thousand, or $0.00 per fully diluted share, for the three months ended December 31, 2021. Net income for the fiscal year ended December 31, 2022 was $3.5 million, or $0.68 per fully diluted share, compared to net income of $4.5 million, or $0.88 per fully diluted share, for the fiscal year ended December 31, 2021.

EBITDA was $0.2 million loss and $2.8 million income for the three months and fiscal year ended December 31, 2022, compared to $0.3 million and $6.2 million for the three months and fiscal year ended December 31, 2021. Adjusted EBITDA was $0.1 million loss and $2.8 million income for the three months and fiscal year ended December 31, 2022, compared to $0.9 million and $3.6 million for the three months and fiscal year ended December 31, 2021. Pre-Corporate EBITDA was $0.3 million and $3.9 million for the three months and fiscal year ended December 31, 2022, compared to $1.1 million and $4.5 million for the three months and fiscal year ended December 31, 2021.

The following table reconciles the non-GAAP financial measure Gross Billings to GAAP total revenues, for the fourth quarter and year ended December 31, 2022 and 2021.

(in thousands)		Three months ended                December 31,				Year ended December 31,
		2022		2021		2022		2021
Total revenues	$	4,091	$	4,294	$	17,780	$	16,102
Model costs (1)		12,380		10,924		49,204		40,711
Gross billings*	$	16,471	$	15,218	$	66,984	$	56,813
* Non-GAAP measures referenced are detailed in the disclosures at the end of this release. (1) Model costs include amounts owed to talent, including taxes required to be withheld and remitted directly to taxing authorities, commissions owed to other agencies, and related costs such as those paid for photography.

The following table reconciles non-GAAP EBITDA, Adjusted EBITDA and Pre-Corporate EBITDA to GAAP net income for the fourth quarter and year ended December 31, 2022 and 2021.

(in thousands)		Three months ended December 31,						Year ended December 31,
		2022			2021			2022			2021
Net (loss) income	$	(18	)	$	23		$	3,529		$	4,518
Interest expense		1			2			8			51
Income tax (benefit) expense		(196	)		128			(954	)		823
Amortization and depreciation		45			115			193			855
EBITDA*	$	(168	)	$	268		$	2,776		$	6,247
Foreign exchange loss (gain)		47			(4	)		(164	)		80
Non-recurring items (2)		–			575			–			(2,739	)
Share-based payment expense		25			55			190			61
Adjusted EBITDA*	$	(96	)	$	894		$	2,802		$	3,649
Corporate overhead		370			254			1,093			897
Pre-Corporate EBITDA*	$	274		$	1,148		$	3,895		$	4,546
* Non-GAAP measures referenced are detailed in the disclosures at the end of this release. (2) Non-recurring items include cybersecurity incident expenses for the three months ended December 31, 2021 and gain on forgiveness of loans, employee retention payroll tax credit, and cybersecurity incident expenses during the year ended December 31, 2021.

Changes in net income, EBITDA, Adjusted EBITDA and Pre-Corporate EBITDA for the three months and fiscal year ended December 31, 2022, when compared to the three months and fiscal year ended December 31, 2021, were primarily the result of the following:

• Revenues for the three months ended December 31, 2022 decreased 4.7% primarily due to lower core modeling bookings in the United States and London. Revenues for the fiscal year ended December 31, 2022 increased by 10.4% primarily due to increased bookings as the cities where Wilhelmina operates reopened and business activity increased as COVID-19 vaccination rates rose;
• Salaries and service costs for the three months and fiscal year ended December 31, 2022 increased by 13.3% and 26.2% primarily due to personnel hires and payroll changes to better align Wilhelmina staffing with the needs of each office and geographical region;
• Office and general expenses for the three months and fiscal year ended December 31, 2022 increased by 42.8% and 6.6%, primarily due to increased legal expense, rent expense, and other office expenses;
• Amortization and depreciation expense for the three months and fiscal year ended December 31, 2022 decreased by 60.9% and 77.4%, primarily due to reduced depreciation of assets that became fully amortized in 2021;
• Non-recurring items included $2.0 million of gain on forgiveness of PPP loans and $1.3 million of employee retention payroll tax credit in the fiscal year ended December 31, 2021, as well as $0.6 million of cybersecurity incident expenses in the three months and fiscal year ended December 31, 2021;   and
• Corporate overhead increased by 45.7% and 21.9% for the three months and fiscal year ended December 31, 2022, primarily due to increased securities compliance costs and temporary reduction in fees paid to corporate employees and the Company’s directors in the prior year that returned to full fee in July 2021.

WILHELMINA INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In thousands, except share data) 

		2022				2021
ASSETS
Current assets:
Cash and cash equivalents		$	11,998			$	10,251
Accounts receivable, net of allowance for doubtful accounts of $1,664 and $1,580, respectively			9,467				8,858
Prepaid expenses and other current assets			181				91
Total current assets			21,646				19,200
Property and equipment, net of accumulated depreciation of $1,216 and $4,094, respectively			307				168
Right of use assets-operating			3,565				1,745
Right of use assets-finance			138				199
Trademarks and trade names with indefinite lives			8,467				8,467
Goodwill			7,547				7,547
Other assets			322				98
TOTAL ASSETS		$	41,992			$	37,424
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities		$	4,306			$	3,761
Due to models			8,378				8,090
Contract liabilities			270				481
Lease liabilities – operating, current			385				463
Lease liabilities – finance, current			62				64
Total current liabilities			13,401				12,859
Long term liabilities:
Deferred income tax, net			985				2,048
Lease liabilities – operating, non-current			3,310				1,361
Lease liabilities – finance, non-current			85				143
Total long-term liabilities			4,380				3,552
Total liabilities			17,781				16,411
Shareholders’ equity:
Common stock, $0.01 par value, 9,000,000 shares authorized; 6,472,038 shares issued at December 31, 2022 and December 31, 2021			65				65
Treasury stock, 1,314,694 shares at December 31, 2022 and December 31, 2021, at cost			(6,371	)			(6,371	)
Additional paid-in capital			88,770				88,580
Accumulated deficit			(57,709	)			(61,238	)
Accumulated other comprehensive loss			(544	)			(23	)
Total shareholders’ equity			24,211				21,013
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	41,992			$	37,424

WILHELMINA INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME

For the Years Ended December 31, 2022 and 2021

 (In thousands, except per share data)

		Three Months Ended								Year Ended
		December 31,								December 31,
		2022				2021				2022				2021
Revenues:
Service revenues		$	4,084			$	4,287			$	17,750			$	16,069
License fees and other income			7				7				30				33
Total revenues			4,091				4,294				17,780				16,102
Operating expenses:
Salaries and service costs			2,805				2,475				10,907				8,644
Office and general expenses			1,037				726				3,168				2,973
Amortization and depreciation			45				115				193				855
Cybersecurity incident expenses			–				575				–				575
Corporate overhead			370				254				1,093				897
Total operating expenses			4,257				4,145				15,361				13,944
Operating income			(166	)			149				2,419				2,158
Other expense (income):
Foreign exchange loss (gain)			47				(4	)			(164	)			80
Gain on forgiveness of loan			–				–				–				(1,994	)
Employee retention payroll tax credit			–				–				–				(1,320	)
Interest expense			1				2				8				51
Total other expense (income), net			48				(2	)			(156	)			(3,183	)
(Loss) income before provision for income taxes			(214	)			151				2,575				5,341
Benefit (provision) for income taxes:
Current			196				(66	)			(109	)			(224	)
Deferred			–				(62	)			1,063				(599	)
Benefit (provision) for income taxes, net			196				(128	)			954				(823	)
Net (loss) income		$	(18	)		$	23			$	3,529			$	4,518
Other comprehensive income (loss):
Foreign currency translation adjustment			343				16				(521	)			(104	)
Total comprehensive income			325				39				3,008				4,414
Basic net income per common share		$	0.00			$	0.00			$	0.68			$	0.88
Diluted net income per common share		$	0.00			$	0.00			$	0.68			$	0.88
Weighted average common shares outstanding-basic			5,157				5,157				5,157				5,157
Weighted average common shares outstanding-diluted			5,157				5,157				5,157				5,157

WILHELMINA INTERNATIONAL, INC. AND SUBSIDIARIES`

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

For the Years Ended December 31, 2022 and 2021

(In thousands)

		Common Shares			Stock Amount			Treasury Shares					Stock Amount					Additional Paid-in Capital				Accumulated Deficit						Accumulated Other Comprehensive Income (Loss)			Total
Balances at December 31, 2020			6,472		$	65			(1,315	)			$	(6,371	)			$	88,487			$	(65,756	)			$	81			$	16,506
Share-based payment expense			–			–			–					–					61				–					–				61
Net income to common shareholders			–			–			–					–					–				4,518					–				4,518
Short swing profit disgorgement			–			–			–					–					32				–					–				32
Foreign currency translation			–			–			–					–					–				–					(104	)			(104	)
Balances at December 31, 2021			6,472		$	65			(1,315	)			$	(6,371	)			$	88,580			$	(61,238	)			$	(23	)		$	21,013
Share-based payment expense			–			–			–					–					190				–					–				190
Net income to common shareholders			–			–			–					–					–				3,529					–				3,529
Foreign currency translation			–			–			–					–					–				–					(521	)			(521	)
Balances at December 31, 2022			6,472		$	65			(1,315	)			$	(6,371	)			$	88,770			$	(57,709	)			$	(544	)		$	24,211

WILHELMINA INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOW

For the Years Ended December 31, 2022 and 2021

 (In thousands)

			Year Ended
			2022					2021
Cash flows from operating activities:
Net income:			$		3,529			$			4,518
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and depreciation					193						855
Share based payment expense					190						61
Gain on forgiveness of loan					–						(1,994		)
(Gain) loss on foreign exchange rates					(164	)					80
Deferred income taxes					(1,063	)					599
Bad debt expense					174						168
Changes in operating assets and liabilities:
Accounts receivable					(747	)					(1,961		)
Prepaid expenses and other current assets					(98	)					16
Right of use assets-operating					500						375
Other assets					(227	)					(6		)
Due to models					398						1,753
Lease liabilities-operating					(470	)					(326		)
Contract liabilities					(211	)					481
Accounts payable and accrued liabilities					515						917
Net cash provided by operating activities					2,519						5,536
Cash flows from investing activities:
Purchases of property and equipment					(268	)					(19		)
Net cash used in investing activities					(268	)					(19		)
Cash flows from financing activities:
Shareholder short swing profit disgorgement					–						32
Payments on finance leases					(62	)					(76		)
Repayment of term loan					–						(743		)
Net cash used in financing activities					(62	)					(787		)
Foreign currency effect on cash flows:					(442	)					(35		)
Net change in cash and cash equivalents:					1,747						4,695
Cash and cash equivalents, beginning of year					10,251						5,556
Cash and cash equivalents, end of year			$		11,998			$			10,251
Supplemental disclosures of cash flow information:
Cash paid for interest			$		–			$			23
Cash paid for income taxes			$		268			$			198
Noncash investing and financing activities
Gain on forgiveness of loan			$		–						1,994

Non-GAAP Financial Measures

Gross Billings, EBITDA, Adjusted EBITDA and Pre-Corporate EBITDA represent measures of financial performance that are not calculated and presented in accordance with U.S. generally accepted accounting principles (“non-GAAP financial measures”). The Company considers Gross Billings, EBITDA, Adjusted EBITDA and Pre-Corporate EBITDA to be important measures of performance because they:

• are key operating metrics of the Company’s business;
• are used by management in its planning and budgeting processes and to monitor and evaluate its financial and operating results; and
• provide stockholders and potential investors with a means to evaluate the Company’s financial and operating results against other companies within the Company’s industry. 

The Company’s calculation of non-GAAP financial measures may not be consistent with similar calculations by other companies in the Company’s industry. The Company calculates Gross Billings as the gross amount billed to customers on behalf of its models and talent for services performed. The Company calculates EBITDA as net income plus interest expense, income tax expense, and depreciation and amortization expense. The Company calculates “Adjusted EBITDA” as EBITDA plus foreign exchange gain/loss, share-based payment expense and certain significant non-recurring items that the Company may include from time to time. For 2021, these non-recurring items represented gain on forgiveness of PPP loans, employee retention payroll tax credit, and cybersecurity incident expenses. The Company calculates “Pre-Corporate EBITDA” as Adjusted EBITDA plus corporate overhead expense, which includes director compensation, securities laws compliance costs, audit and professional fees, and other public company costs.

Non-GAAP financial measures should not be considered as alternatives to net and operating income as an indicator of the Company’s operating performance or cash flows from operating activities as a measure of liquidity or any other measure of performance derived in accordance with generally accepted accounting principles.

Form 10-K Filing

Additional information concerning the Company’s results of operations and financial position is included in the Company’s Form 10-K for the fiscal year ended December 31, 2022 filed with the Securities and Exchange Commission on March 22, 2023.

Forward-Looking Statements

This press release contains certain “forward-looking” statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company are based on the beliefs of the Company’s management as well as information currently available to the Company’s management. When used in this report, the words “anticipate,” “believe,” “estimate,” “expect” and “intend” and words or phrases of similar import, as they relate to the Company or Company management, are intended to identify forward-looking statements. Such forward-looking statements may include projections about the Company’s future results, statements about its plans, strategies, business prospects, changes and trends in its business and the markets in which it operates. Additionally, statements concerning future matters such as gross billing levels, revenue levels, expense levels, and other statements regarding matters that are not historical are forward-looking statements. Management cautions that these forward-looking statements relate to future events or the Company’s future financial performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance, or achievements of its business or its industry to be materially different from those expressed or implied by any forward-looking statements. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. The Company does not undertake any obligation to publicly update these forward-looking statements. As a result, no person should place undue reliance on these forward-looking statements.

About Wilhelmina International, Inc. (www.wilhelmina.com):

Wilhelmina, together with its subsidiaries, is an international full-service fashion model and talent management service, specializing in the representation and management of leading models, celebrities, artists, photographers, athletes, and content creators. Established in 1967 by fashion model Wilhelmina Cooper, Wilhelmina is one of the oldest and largest fashion model management companies in the world. Wilhelmina is publicly traded on Nasdaq under the symbol WHLM.  Wilhelmina is headquartered in New York and, since its founding, has grown to include operations in Los Angeles, Miami, and London. Wilhelmina also owns Aperture, a talent and commercial agency located in New York and Los Angeles. For more information, please visit www.wilhelmina.com and follow @WilhelminaModels.

CONTACT:	Investor Relations
	Wilhelmina International, Inc.
	214-661-7488
	[email protected]

London, March 22, 2023

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announces that it has completed the second tranche of its $50 million share buyback (the “Second Tranche”) in the framework of its $300 million common share buyback program with the transaction described in the table below. The transaction, completed on March 13, 2023, reported in aggregate, was based on automatic orders placed with the Company’s broker (who made its trading decisions as to the timing of the purchases independently of the Company based on instructions given before the commencement of the Company’s closed period under the applicable regulations). After the purchases announced today and considering those previously executed under the Second Tranche, the total invested amount is approximately €46,863,453.43 ($49,999,997.50) for a total amount of 3,065,368 common shares purchased.

Date	Number of common shares purchased	Average price per share excluding fees	Consideration excluding fees	Consideration (* * ) excluding fees
		(€)	(€)	($)
March 13, 2023	21,474	14.2349	305,680.24	327,261.27

(*) All translations determined from Euro to US Dollar at the exchange rate reported by the European Central Bank on the date of each purchase.

On March 14, 2023 CNH Industrial has commenced a third tranche of $50 million share buyback (the “Third Tranche”) in the framework of its $300 million share buyback program previously announced on July 29, 2022 (the “Program”). The purchases will be executed on Euronext Milan and on multilateral trading facilities (MTFs) in compliance with the Market Abuse Regulation and the terms and conditions of the existing authority granted by the general meeting of shareholders on April 13, 2022. In the period, March 15, 2023 to March 17, 2023 the Company completed the following transactions under the Third Tranche, reported in aggregate, based on orders placed with the Company’s broker:

Date	Number of common shares purchased	Average price per share excluding fees	Consideration excluding fees	Consideration (* * ) excluding fees
		(€)	(€)	($)
March 15, 2023	280,000	13.5993	3,807,804.00	4,016,852.44
March 16, 2023	188,000	13.2587	2,492,635.60	2,640,947.42
March 17, 2023	188,000	13.1545	2,473,046.00	2,627,116.77
	656,000	–	8,773,485.60	9,284,916.6 3

As of March 17, 2023, the Company currently holds 23,474,209 common shares in Treasury.

Details of the transactions described in the table above, including the regulated markets where the purchases were made, are available on the Company’s corporate website under the Buyback Programs section at the following address: bit.ly/CNHI_Buyback.

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 37,000+ 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

C
ontacts:

Media
Relations

Email: [email protected]

Investor Relations

Email: [email protected]

Attachment

• 20230322- PR_CNH_Industrial_Buyback_Periodic_Report

FREMONT, Calif., March 22, 2023 (GLOBE NEWSWIRE) — Actelis Networks, Inc. (NASDAQ: ASNS) (“Actelis” or the “Company”), a market leader in cyber-hardened, rapid deployment networking solutions for wide area IoT applications, will hold a conference call on Wednesday, March 29, 2023, at 4:30 p.m. Eastern time to discuss its financial results for the fiscal full year ended December 31, 2022.

Company CEO Tuvia Barlev and CFO Yoav Efron will host the call.

Date: Wednesday, March 29, 2023
Time: 4:30 p.m. Eastern time
U.S. & Canada dial-in (toll-free): (800) 715-9871
International dial-in (toll): +1(646) 307-1963
Conference ID: 5824707

Please call the conference telephone number 10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Investor Relations at 949-574-3860.

The conference call will also be broadcast live and available for replay here and via the Investor Relations section of Actelis Network’s website.

A telephonic replay of the conference call will be available after 8:30 p.m. Eastern time on the same day through April 5, 2023.

US Toll-free replay number: (800) 770-2030
International replay number (toll): +1(609) 800-9909
Conference ID: 5824707

About Actelis Networks, Inc.

Actelis Networks, Inc. (NASDAQ: ASNS) is a market leader in cyber-hardened, rapid-deployment networking solutions for wide-area IoT applications including federal, state and local government, ITS, military, utility, rail, telecom and campus applications. Actelis’ unique portfolio of hybrid fiber-copper, environmentally hardened aggregation switches, high density Ethernet devices, advanced management software and cyber-protection capabilities, unlocks the hidden value of essential networks, delivering safer connectivity for rapid, cost-effective deployment. For more information, please visit www.actelis.com

Investor Relations Contact:

Matt Glover and Ralf Esper
Gateway Investor Relations
+1 949-574-3860
[email protected]

• 
  Research published online today in peer-reviewed journal Science Translational Medicine
  
  
• 
  Analysis of data from a Phase 2/3 COVID-19 prevention study (EVADE) of adintrevimab suggests clinically meaningful protection can be achieved at low neutralizing antibody titers
  
  
• 
  Work builds on vaccine studies demonstrating neutralizing antibody titers as correlates of protection against disease and could inform evolution of regulatory framework for therapeutic antibodies
  
  

WALTHAM, Mass., March 22, 2023 (GLOBE NEWSWIRE) — Invivyd, Inc. (Nasdaq: IVVD), a clinical-stage biopharmaceutical company on a mission to protect the vulnerable from serious viral infectious diseases, today announced the publication of research in the peer-reviewed journal Science Translational Medicine describing a model for evaluating biomarker correlates of protection for monoclonal antibodies (mAb) against symptomatic COVID-19. The research concluded that neutralizing antibodies are mechanistic in providing protection against symptomatic disease and identified serum neutralizing antibody titers as a correlate of protection. These findings have potential to support accelerated development and innovative regulatory frameworks for mAbs for prevention of COVID-19.

Invivyd chief medical officer, Pete Schmidt, M.D., M.Sc, was lead author of the manuscript titled, “Antibody-mediated protection against symptomatic COVID-19 can be achieved at low serum neutralizing titers,” which was published online today.

“The dramatic difference in neutralizing activity conferred by adintrevimab against the Delta and Omicron variants observed in the Phase 2/3 prevention study provided a unique opportunity to determine a threshold of serum virus neutralization associated with potential protection against symptomatic COVID-19,” said Dr. Schmidt. “We are proud to make such an important contribution to the collective understanding of SARS-CoV-2 immunity. Establishing correlates of protection for monoclonal antibodies has proven challenging due to the confounding presence of preexisting humoral or cellular immunity, induced by vaccination or natural infection. We believe that our scientific contributions could help inform the development of a new regulatory framework to support accelerated development of mAbs that keep pace with viral evolution.”

The publication provides details of a model incorporating pharmacokinetic and clinical data from adintrevimab and previously published data from other mAbs and vaccines. The model suggests that clinically meaningful protection from symptomatic disease could be achieved with monoclonal antibody titers as low as 1:30 (90% confidence interval, 1:24-1:40). Like vaccine studies, mAb data modeling suggests that protection increases with increased neutralization titers with no absolute threshold for protection.

Dr. Schmidt continued, “Our research positions Invivyd to meet the challenge of rapidly developing next-generation antibodies that provide broad and durable protection against current and future variants of concern. We look forward to continuing to provide our scientific findings to regulators as they explore potential pathways to expedite availability of new products for prevention and treatment of COVID-19.”

Invivyd scientists presented related data at a joint FDA-EMA workshop on SARS-CoV-2 mAbs in December.

Supported by the research included in the Science Translational Medicine manuscript, the company continues to plan to advance VYD222 into the clinic in the first quarter of this year. VYD222 was engineered from adintrevimab, Invivyd’s investigational mAb that has a robust safety data package and demonstrated clinically meaningful results in global Phase 3 clinical trials for both the prevention and treatment of COVID-19. The adintrevimab clinical data package has the potential to support accelerated development of VYD222. Once aligned with regulatory authorities, pivotal studies are planned to swiftly follow Phase 1.

About Invivyd

(Nasdaq: IVVD)
Invivyd, Inc., is a biopharmaceutical company on a mission to rapidly and perpetually deliver antibody-based therapies that protect vulnerable people from the devastating consequences of circulating viral threats, beginning with SARS-CoV-2. ​​Invivyd’s technology works at the intersection of evolutionary virology, predictive modeling, and antibody engineering, and is designed to identify high-quality, long-lasting antibodies with a high barrier to viral escape. The company is generating a robust pipeline of product candidates which could be used in prevention or treatment of serious viral diseases, starting with COVID-19 and expanding into influenza and other high-need indications. Visit https://invivyd.com/ to learn more.

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “could,” “expects,” “intends,” “potential,” “projects,” and “future” or similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements include statements concerning, among other things, the ability for Invivyd, other companies or combination of companies and industry representatives to influence regulators to change or adopt new development pathways or timelines; the ability for Invivyd, other companies or combination of companies and industry representatives to influence regulators to change or adopt new development pathways or timelines; the ability of Invivyd to accelerate development timelines for the unmet need for treatment of COVID-19; the interest or acceptance by regulatory authorities of regulatory and clinical strategies to support potentially expedited development of novel monoclonal antibody therapies; the potential for success and or expedited discovery, development, or commercialization of antibody therapies for COVID-19; the continued unmet need for prevention and treatment of COVID-19 particularly for immuno compromised and other vulnerable populations; the viability and acceptability of new regulatory strategy, policy or approach to drug development and the potential of the same to maintain pace with changing COVID-19 variants; the future of the COVID-19 landscape including the expectation of continued evolution and emergence of new variants and subvariants; our ongoing research and clinical development plans and the timing thereof; our plans to advance VYD222 other early stage candidates as a potential prophylaxis and treatment option for COVID-19, including disease caused by most variants, as either a single or combination agent, the potential for VYD222 or other product candidates to demonstrate activity against predominant SARS-CoV-2 variant(s) in the U.S. and globally; the potential for the clinical data package resulting from clinical trials of adintrevimab to support accelerated VYD222 monotherapy development; our plans to advance VYD222 into the clinic; our expectations that we will be able to achieve regulatory alignment and advance pivotal studies with VYD222; our plans, technology and resources to develop therapeutic or preventative options for other infectious diseases, such as additional coronaviruses and seasonal influenza, in the U.S. and globally; and other statements that are not historical fact.

We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause our actual results to differ materially from the results described in or implied by the forward-looking statements, including, without limitation: the ability to gain alignment with the applicable regulatory authorities on the clinical development pathway for VYD222 and the timing thereof; the ability for Invivyd and/or other companies, scientists, clinicians or industry representatives to impact the strategy, policy or approach to drug development drafted or applied by regulatory authorities, including the FDA and EMA; the impact of any such change on the speed or success of development and commercialization of antibodies for the prevention and/or treatment of COVID-19; the ability of the company to generate and utilize tools to discover and develop antibodies to treat current and potential future variants; the impacts of the COVID-19 pandemic on our business and those of our collaborators, our clinical trials and our financial position; unexpected safety or efficacy data observed during preclinical studies or clinical trials; the predictability of clinical success of VYD222 or other pipeline candidates or combination of candidates based on neutralizing activity in pre-clinical studies; variability of results in models used to predict activity against SARS-CoV-2 variants of concern; clinical trial site activation or enrollment rates that are lower than expected; changes in expected or existing competition; changes in the regulatory environment; the uncertainties and timing of the regulatory approval process, including the outcome of our discussions with regulatory authorities concerning our clinical trials; whether VYD222, or any other pipeline candidate or combination of candidates is able to demonstrate activity against predominant SARS-CoV-2 variant(s) in the U.S. and globally; whether we are able to successfully submit an emergency use authorization in the future, and the outcome of any such emergency use authorization submission; whether research and development efforts will improve efficacy of adintrevimab against predominant variants or identify additional monoclonal antibodies or combination of antibodies for the prevention and treatment of COVID-19 and other infectious diseases; whether research and development efforts will identify and result in safe and effective therapeutic or preventative options for other infectious diseases in the U.S. or globally and whether we have adequate funding to meet future operating expenses and capital expenditure requirements. Other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are described under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021 and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, each filed with the Securities and Exchange Commission (the “SEC”), and in our other filings with the SEC, and in Invivyd’s future reports to be filed with the SEC and available at www.sec.gov. Such risks may be amplified by the impacts of the COVID-19 pandemic. Forward-looking statements contained in this press release are made as of this date, and Invivyd undertakes no duty to update such information whether as a result of new information, future events or otherwise, except as required under applicable law.

This press release contains hyperlinks to information that is not deemed to be incorporated by reference in this press release.

Media Contact:

Kate Burdick, Evoke Canale
860-462-1569
[email protected]

Investor Contact:

Chris Brinzey, ICR Westwicke
339-970-2843
[email protected]

JACKSONVILLE, Fla., March 22, 2023 (GLOBE NEWSWIRE) — CSX (NASDAQ: CSX) today announced that it has reached an agreement with the International Brotherhood of Electrical Workers (IBEW) to provide paid sick leave to employees.

This is the seventh agreement between CSX and rail unions in recent weeks bringing the total number of employees that now have paid sick leave to nearly 7,700 – or 46 percent of CSX’s union-represented workforce. Other unions that have negotiated paid sick leave for their members include the Brotherhood of Maintenance of Way (BMWED), which represents track workers; the Brotherhood of Railway Carmen (BRC), which represents mechanical employees; the International Association of Machinists and Aerospace Workers (IAM), which represents railroad machinists; and the National Conference of Firemen and Oilers (NCFO), which represents CSX’s utility workers. 

The contracts demonstrate CSX’s commitment to continuing to work with its employees and their representatives to improve the work experience across its organization.

“We are pleased by the progress we are making to improve the dialogue and strengthen relationships with rail labor,” said Joe Hinrichs, President and Chief Executive Officer of CSX. “This newest agreement, with the IBEW, is a continuation of the spirit of cooperation that we are committed to pursuing as we work together to improve the employee work experience, enhance the safety of our operations, and grow the business.”

About CSX

CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 200 years, CSX has played a critical role in the nation’s economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.

Contact:

Matthew Korn, CFA, Investor Relations

904-366-4515

Bryan Tucker, Corporate Communications

855-955-6397

ATLANTA, March 22, 2023 (GLOBE NEWSWIRE) — First Advantage Corporation (NASDAQ: FA), a leading global provider of employment background screening and verification solutions, will issue its first quarter 2023 financial results on Wednesday, May 10, 2023 prior to the Company’s earnings conference call, which will be held at 8:30 a.m. EDT on the same day.

Conference Call Details

To participate in the conference call, please dial (800) 267-6316 (domestic) or (203) 518-9783 (international) approximately ten minutes before the 8:30 a.m. EDT start. Please mention to the operator that you are dialing in for the First Advantage first quarter 2023 earnings call or provide the conference code FAQ123. The call will also be webcast live on the Company’s investor relations website at https://investors.fadv.com under the “News & Events” and then “Events & Presentations” section, where related presentation materials will be posted prior to the conference call. The webcast may be accessed directly at https://event.on24.com/wcc/r/4166786/A62231E2A539DF5F53710E2DEC97FFEE.

Following the conference call, a replay of the webcast will be available on the Company’s investor relations website, https://investors.fadv.com.

About First Advantage

First Advantage (NASDAQ: FA) is a leading global provider of employment background screening and verification solutions. The Company delivers innovative services and insights that help customers manage risk and hire the best talent. Enabled by its proprietary technology, First Advantage’s products help companies protect their brands and provide safer environments for their customers and their most important resources: employees, contractors, contingent workers, tenants, and drivers. Headquartered in Atlanta, Georgia, First Advantage performs screens in over 200 countries and territories on behalf of its approximately 33,000 customers. For more information about First Advantage, visit the Company’s website at https://fadv.com/.

Investor Contact

Stephanie Gorman
Vice President, Investor Relations
[email protected]
(888) 314-9761