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ABM Industries Enters Settlement Agreement

NEW YORK, July 08, 2021 (GLOBE NEWSWIRE) — ABM (NYSE: ABM), a leading provider of facility solutions, has entered into a written settlement agreement in the consolidated action ABM Industries Overtime Cases (also known as the “Bucio case”), pending in the Superior Court of California, County of San Francisco. Filed in 2006, the case relates primarily to a legacy timekeeping system that has not been in use by ABM since 2013. The settlement is subject to court approval.

Under the terms of the settlement agreement, the Company has agreed to pay a total sum of $140 million to fully resolve all claims that were asserted by plaintiffs against the Company. To meet the final terms of the Bucio case settlement agreement, the Company intends to reserve $110 million in the third quarter of fiscal 2021, supplementing the $30 million previously reserved. ABM admits no wrongdoing as part of the settlement.

“We are confident this settlement is in the best interests of ABM and our stakeholders, as it removes the ongoing costs and uncertainty associated with protracted litigation. Our strong financial position, free cash flow and recently increased credit line provide us with significant resources to pursue our strategic growth priorities,” said Scott Salmirs, President and Chief Executive Officer of ABM Industries.

The Company will update its full year GAAP income guidance to reflect the settlement when it issues its third quarter results in early September. ABM’s full year adjusted income guidance remains unchanged.

ABOUT ABM

ABM (NYSE: ABM) is a leading provider of facility solutions with revenues of approximately $6.0 billion and more than 100,000 employees in 350+ offices throughout the United States and various international locations. ABM’s comprehensive capabilities include janitorial, electrical & lighting, energy solutions, facilities engineering, HVAC & mechanical, landscape & turf, mission critical solutions and parking, provided through stand-alone or integrated solutions. ABM provides custom facility solutions in urban, suburban and rural areas to properties of all sizes – from schools and commercial buildings to hospitals, data centers, manufacturing plants and airports. ABM Industries Incorporated, which operates through its subsidiaries, was founded in 1909. For more information, visit www.abm.com.

Contact:

Investor Relations:

David Gold
(212) 750-5800
[email protected]

Media:

Michael Valentino
[email protected]



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Costco Wholesale Corporation Reports June Sales Results

ISSAQUAH, Wash., July 08, 2021 (GLOBE NEWSWIRE) — Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $18.92 billion for the retail month of June, the five weeks ended July 4, 2021, an increase of 16.9 percent from $16.18 billion last year.

For the forty-four weeks ended July 4, 2021, the Company reported net sales of $161.09 billion, an increase of 18.1 percent from $136.37 billion last year.

Comparable sales were as follows:

           
    5 Weeks   44 Weeks  
  U.S. 12.1%   14.9%  
  Canada 23.4%   21.0%  
  Other International 15.4%   20.2%  
           
  Total Company 14.1%   16.4%  
           
  E-commerce 20.8%   53.4%  
           

Comparable sales excluding the impacts from changes in gasoline prices and foreign exchange were as follows:

           
    5 Weeks   44 Weeks  
  U.S. 7.8%   14.4%  
  Canada 8.9%   13.5%  
  Other International 6.8%   14.5%  
           
  Total Company 7.9%   14.3%  
           
  E-commerce 18.0%   51.5%  
           

This year’s June retail month had one fewer shopping day versus last year, due to the calendar shift of Memorial Day. This shift negatively impacted sales by approximately one and one-half to two percent.

Additional discussion of these results is available in a pre-recorded telephone message. It can be accessed by dialing 1-855-859-2056 (conference ID 8281958). This message will be available through 5:00 p.m. (PT) on Thursday, July 15, 2021.

Costco currently operates 810 warehouses, including 559 in the United States and Puerto Rico, 105 in Canada, 39 in Mexico, 30 in Japan, 29 in the United Kingdom, 16 in Korea, 14 in Taiwan, 12 in Australia, three in Spain, and one each in Iceland, France, and China. Costco also operates e-commerce sites in the U.S., Canada, the United Kingdom, Mexico, Korea, Taiwan, Japan, and Australia.

Certain statements contained in this document and the pre-recorded telephone message constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For these purposes, forward-looking statements are statements that address activities, events, conditions or developments that the Company expects or anticipates may occur in the future. In some cases forward-looking statements can be identified because they contain words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks and uncertainties include, but are not limited to, domestic and international economic conditions, including exchange rates, inflation or deflation, the effects of competition and regulation, uncertainties in the financial markets, consumer and small business spending patterns and debt levels, breaches of security or privacy of member or business information, conditions affecting the acquisition, development, ownership or use of real estate, capital spending, actions of vendors, rising costs associated with employees (generally including health-care costs), energy and certain commodities, geopolitical conditions (including tariffs), the ability to maintain effective internal control over financial reporting, COVID-19 related factors and challenges, including (among others) the duration of the pandemic, the unknown long-term economic impact, reduced shopping due to illness, travel restrictions or financial hardship, shifts in demand for products, reduced workforces due to illness, quarantine, or government mandates, temporary store closures or operational limitations due to government mandates, or supply-chain disruptions, capacity constraints of third-party logistics suppliers, and other risks identified from time to time in the Company’s public statements and reports filed with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update these statements, except as required by law.

CONTACTS:   Costco Wholesale Corporation
Richard Galanti, 425/313-8203
Bob Nelson, 425/313-8255
David Sherwood, 425/313-8239
Josh Dahmen, 425/313-8254



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California Water Service Group Schedules Second Quarter 2021 Earnings Results Announcement and Teleconference

SAN JOSE, Calif., July 08, 2021 (GLOBE NEWSWIRE) — California Water Service Group (NYSE: CWT) today announced that its second quarter 2021 earnings results will be released at 9:00 a.m. ET with its teleconference to follow at 11:00 a.m. ET on Thursday, July 29, 2021.

All stockholders and interested investors are invited to listen to the teleconference. Please dial in at least 15 minutes in advance to ensure a timely connection to the call.   The 2021 second quarter conference call may be accessed by dialing 1-833-832-5130 or 1-509-844-0151 and keying in ID# 3119418. A replay of the call will be available from 2:00 p.m. ET on Thursday, July 29, 2021 through September 29, 2021, at 1-855-859-2056 or 1-404-537-3406, ID# 3119418. The replay will also be available under the investor relations tab at www.calwatergroup.com. The call will be hosted by President and Chief Executive Officer Martin A. Kropelnicki, Vice President and Chief Financial Officer Thomas F. Smegal, Vice President, Corporate Development and Chief Regulatory Officer Paul Townsley, and Vice President, Corporate Controller David B. Healey. Prior to the call, Cal Water will furnish a slide presentation on its website at 9:00 a.m. ET.

About California Water Service Group

California Water Service Group is the parent company of regulated utilities California Water Service, Hawaii Water Service, New Mexico Water Service, Washington Water Service, and now Texas Water Service, a utility holding company. Together, these companies provide regulated and non-regulated water and wastewater service to more than 2 million people in California, Hawaii, New Mexico, Texas, and Washington. California Water Service Group’s common stock trades on the New York Stock Exchange under the symbol “CWT.” Additional information is available online at www.calwatergroup.com.

This news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 (“Act”). The forward-looking statements are intended to qualify under provisions of the federal securities laws for “safe harbor” treatment established by the Act. Forward-looking statements are based on currently available information, expectations, estimates, assumptions and projections, and management’s judgment about the Company, the water utility industry and general economic conditions. Such words as would, expects, intends, plans, believes, estimates, assumes, anticipates, projects, predicts, forecasts or variations of such words or similar expressions are intended to identify forward-looking statements. The forward-looking statements are not guarantees of future performance. They are subject to uncertainty and changes in circumstances. Actual results may vary materially from what is contained in a forward-looking statement. Factors that may cause a result different than expected or anticipated include, but are not limited to: ability to complete the acquisition and ability to operate the wastewater systems in an accretive manner; natural disasters, public health crises, pandemics, epidemics or outbreaks of a contagious disease, such as the recent outbreak of coronavirus (or COVID‐19), governmental and regulatory commissions’ decisions, including decisions on proper disposition of property; consequences of eminent domain actions relating to our water systems; changes in regulatory commissions’ policies and procedures; the timeliness of regulatory commissions’ actions concerning rate relief and other actions; changes in water quality standards; changes in environmental compliance and water quality requirements; electric power interruptions; housing and customer growth trends; the impact of opposition to rate increases; our ability to recover costs; availability of water supplies; issues with the implementation, maintenance or security of our information technology systems; civil disturbances or terrorist threats or acts; the adequacy of our efforts to mitigate physical and cyber security risks and threats; the ability of our enterprise risk management processes to identify or address risks adequately; labor relations matters as we negotiate with unions; changes in customer water use patterns and the effects of conservation; the impact of weather, climate, natural disasters, and diseases on water quality, water availability, water sales and operating results, and the adequacy of our emergency preparedness; and, other risks and unforeseen events. When considering forward-looking statements, you should keep in mind the cautionary statements included in this paragraph, as well as the annual 10-K, Quarterly 10-Q, and other reports filed from time-to-time with the Securities and Exchange Commission (SEC). The Company assumes no obligation to provide public updates of forward-looking statements.

Contact

Tom Smegal
408-367-8200 (analysts)

Shannon Dean
408-367-8243 (media)



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Bridgewater Bancshares, Inc. Completes Private Placement of $30.0 Million of 3.25% Fixed-to-Floating Rate Subordinated Notes

Bridgewater Bancshares, Inc. Completes Private Placement of $30.0 Million of 3.25% Fixed-to-Floating Rate Subordinated Notes

ST. LOUIS PARK, Minn.–(BUSINESS WIRE)–
Bridgewater Bancshares, Inc. (Nasdaq: BWB) (the Company), the parent company of Bridgewater Bank, today announced the completion of a private placement of $30.0 million in aggregate principal amount of 3.25% fixed-to-floating rate subordinated notes due 2031 (the Notes). The Company intends to use the net proceeds of the private placement for general corporate purposes, including support for organic growth plans, support for bank level capital ratios and possible redemption or repurchase of currently outstanding indebtedness.

The Notes will initially bear interest at a rate of 3.25% per annum from July 8, 2021 to July 15, 2026, with interest during this period payable semi-annually in arrears. From July 15, 2026 to the stated maturity date or early redemption date, the interest rate will be reset quarterly to an annual floating rate equal to the then current three-month term Secured Overnight Financing Rate (SOFR) plus 252 basis points, with interest during this period payable quarterly in arrears. The Notes are redeemable by the Company, in whole or in part, on or after July 15, 2026, and at any time upon the occurrence of certain events. The Notes have been structured to qualify as Tier 2 capital for the Company for regulatory capital purposes.

Piper Sandler & Co. acted as placement agent for the Notes offering. Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel to the Company.

The Notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy any security, nor shall there be any sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The indebtedness evidenced by the Notes is not a deposit and is not insured by the Federal Deposit Insurance Corporation or any other government agency or fund.

About Bridgewater

Bridgewater Bancshares, Inc. (Nasdaq: BWB) is a St. Louis Park, Minnesota-based financial holding company. Bridgewater’s primary banking subsidiary, Bridgewater Bank, is a premier, full-service Twin Cities bank dedicated to serving the diverse needs of commercial real estate investors, entrepreneurs, business clients and high-net-worth individuals. By pairing a range of deposit, lending and business services solutions with a responsive service model, Bridgewater has seen continuous growth and profitability. With total assets of $3.1 billion and seven branches as of March 31, 2021, Bridgewater is considered one of the largest locally led banks in the State of Minnesota, and has received numerous awards for its growth, banking services and esteemed corporate culture.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meanings of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act, including but not limited to statements about the anticipated use of net proceeds from the offering and other matters. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond the Company’s control. The Company cautions you that the forward-looking statements presented in this Report are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this Report. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Factors that may cause actual results to differ materially from those made or suggested by the forward-looking statements contained in this press release include those identified in the Company’s most recent annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Any forward-looking statements presented herein are made only as of the date of this press release, and the Company does not undertake any obligation to update or revise any forward-looking statements to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

Media Contact:

Jessica Stejskal | SVP Marketing

[email protected] | 952.893.6860

Investor Contact:

Justin Horstman | Director of Investor Relations

[email protected] | 952.542-5169

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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Matador Resources Company Announces Date of Second Quarter 2021 Earnings Release

Matador Resources Company Announces Date of Second Quarter 2021 Earnings Release

DALLAS–(BUSINESS WIRE)–
Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced plans to release second quarter 2021 operational and financial results after the close of trading on Tuesday, July 27, 2021. Management will also host a live conference call on Wednesday, July 28, 2021 at 9:00 a.m. Central Time to review second quarter 2021 financial results and operational highlights.

To access the live conference call, domestic participants should dial (855) 875-8781 and international participants should dial (720) 634-2925. The conference ID and passcode is 9189353. The live conference call will also be available through the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab. The replay for the event will be available on the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab through August 31, 2021.

About Matador Resources Company

Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.

For more information, visit Matador Resources Company at www.matadorresources.com.

Mac Schmitz

Capital Markets Coordinator

[email protected]

(972) 371-5225

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: Oil/Gas Energy

MEDIA:

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Equitable Names Hector H. Martinez Head of Life Insurance

Equitable Names Hector H. Martinez Head of Life Insurance

Experienced industry leader to oversee strategy, development and distribution of company’s life and long-term care insurance offerings

NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today named Hector Martinez as Head of its Life Insurance business. Martinez will report to Nick Lane, President of Equitable, and will become a member of the company’s Operating Committee. In this role, Martinez will oversee business strategy and management of the company’s life insurance products and solutions.

“This is a dynamic time for our Life business, when so many people are looking for guaranteed financial protection for their families amid continued economic uncertainty,” said Nick Lane. “Hector is a collaborative and energetic leader whose depth of industry experience transforming and enhancing businesses will be incredibly valuable as we evolve our offerings to continue to meet the growing needs of our clients.”

Martinez has more than two decades of experience in the insurance and financial technology industries with a successful track record of driving efficiencies and advancements in sales and distribution processes. Prior to joining Equitable, Martinez spearheaded several business restructuring and distribution initiatives in senior leadership roles with Crump Life Insurance Services and ADP. His work included expanding call-center capabilities and redesigning a custom sales and business development platform to drive growth with new and existing customers.

“I am inspired by Equitable’s purpose and important mission to protect clients and their families, and prepare for their financial futures,” said Martinez. “I look forward to joining Equitable’s strong Protection Solutions team with a long heritage of serving clients through valued and trusted relationships. I believe Equitable plays a critical role in helping Americans achieve financial security and retire with dignity, and I am honored to become part of this outstanding team and organization.”

Equitable’s life insurance product portfolio serves small to medium enterprises and consumers with a core suite of products including Variable Universal Life, Indexed Universal Life and Term life insurance.*

About Equitable

Equitable, a principal franchise of Equitable Holdings, Inc. (NYSE: EQH), has been one of America’s leading financial services providers since 1859. With the mission to help clients secure their financial well-being, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. Equitable has more than 8,000 employees and Equitable Advisors financial professionals and serves 2.8 million clients across the country. Please visit equitable.com for more information.

*Life insurance products are issued by Equitable Financial Life Insurance Company and Equitable Financial Life Insurance Company of America (Equitable America). All guarantees provided within life insurance products are backed by the claims-paying ability of the issuing life insurance company. Equitable is the brand name of the retirement and protection subsidiaries of Equitable Holdings, Inc., including Equitable Financial Life Insurance Company (NY, NY), Equitable Financial Life Insurance Company of America, an AZ stock company with main administrative headquarters in Jersey City, NJ, and Equitable Distributors, LLC. Equitable Advisors is the brand name of Equitable Advisors, LLC (member FINRA, SIPC) (Equitable Financial Advisors in MI and TN). Reference to the 1859 founding applies exclusively to Equitable Financial Life Insurance Company. GE-3660152(07/21)(exp.07/23)

Media Relations

Matt Asensio

(212) 314-2010

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Finance Consulting Banking Professional Services Insurance

MEDIA:

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Impinj to Announce Second-Quarter 2021 Financial Results

Impinj to Announce Second-Quarter 2021 Financial Results

SEATTLE–(BUSINESS WIRE)–
Impinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, today announced that it will release financial results for its second quarter ended June 30, 2021 after U.S. markets close on Wednesday, July 28, 2021.

Impinj will host a conference call and webcast for analysts and investors to discuss its second-quarter 2021 results and third-quarter 2021 outlook at 5:00 p.m. ET / 2:00 p.m. PT. The call will be open to the public. Interested parties may listen to the call by dialing +1-412-317-5196 or accessing the webcast from the company’s website at investor.impinj.com.

A telephonic replay of the call will be available one hour after the call and will run for five business days. It can be accessed by dialing +1-412-317-0088 and entering passcode 10158131. An archived version of the webcast will be available for one year on the company’s website at investor.impinj.com.

Management’s prepared written remarks, along with quarterly financial data for the last eight quarters, will be made available on our website at investor.impinj.com commensurate with this release.

Impinj Disclosure Channels to Disseminate Information

Impinj investors and others should note that we announce material information to the public about our company, products and services, and other issues through a variety of means, including our website, press releases, SEC filings, blogs and social media, in order to achieve broad, non-exclusionary distribution of information to the public. We intend to use the Impinj website, the Impinj Facebook page, the Impinj LinkedIn page, the Impinj blog, and the @Impinj Twitter account as a means of disclosing information about the company and its services and for complying with the disclosure obligations under Regulation FD. The information we post through these social media channels may be deemed material. Accordingly, we encourage investors and others to monitor these social media channels and our website in addition to following our press releases, SEC filings and public conference calls and webcasts.

About Impinj:

Impinj (NASDAQ: PI) helps businesses and people analyze, optimize, and innovate by wirelessly connecting billions of everyday things — such as apparel, automobile parts, luggage, and shipments — to the Internet. The Impinj platform uses RAIN RFID to deliver timely data about these everyday things to business and consumer applications, enabling a boundless Internet of Things. www.impinj.com

Andy Cobb, CFA

Vice President, Strategic Finance

+1-206-315-4470

[email protected]

Media Relations

Jill West

Vice President Strategic Communications

+1 206-834-1110

[email protected]

KEYWORDS: United States North America Washington

INDUSTRY KEYWORDS: Technology Mobile/Wireless Security Software Networks Internet Retail Data Management Online Retail

MEDIA:

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Atmos Energy Corporation to Host Fiscal 2021 Third Quarter Earnings Conference Call on August 5, 2021

Atmos Energy Corporation to Host Fiscal 2021 Third Quarter Earnings Conference Call on August 5, 2021

DALLAS–(BUSINESS WIRE)–
Atmos Energy Corporation (NYSE: ATO) will host a conference call on Thursday, August 5, 2021, at 10:00 a.m. Eastern to review the company’s Fiscal 2021 third quarter financial results. Atmos Energy will release these results on Wednesday, August 4, 2021, following the market close.

To listen to the conference call, please dial either the toll-free or international number provided below. You may also listen to the call on the Atmos Energy website at www.atmosenergy.com. The Internet broadcast will be archived for thirty days.

Conference Call Details

August 5, 2021

10:00 a.m. Eastern / 9:00 a.m. Central

Toll-free: 877-407-3088

International: 201-389-0927

(No pass code)

Internet webcast: www.atmosenergy.com

Atmos Energy Corporation, an S&P 500 company headquartered in Dallas, is the country’s largest natural gas-only distributor. We safely deliver reliable, affordable, efficient, and abundant natural gas to more than 3 million distribution customers in over 1,400 communities across eight states located primarily in the South. As part of our vision to be the safest provider of natural gas services, we are modernizing our business and infrastructure while continuing to invest in safety, innovation, environmental sustainability and our communities. Atmos Energy manages proprietary pipeline and storage assets, including one of the largest intrastate natural gas pipeline systems in Texas. Find us online at http://www.atmosenergy.com, Facebook, Twitter, Instagram and YouTube.

Analyst and Media Contact:

Dan Meziere

(972) 855-3729

 

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Energy Utilities Oil/Gas

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California Resources Corporation Schedules Second Quarter 2021 Conference Call and Earnings Release

California Resources Corporation Schedules Second Quarter 2021 Conference Call and Earnings Release

SANTA CLARITA, Calif.–(BUSINESS WIRE)–
California Resources Corporation (NYSE: CRC) announced today that it will host its second quarter 2021 financial results conference call on Thursday, August 5th at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). The Company’s earnings will be released following the market close on the same date.

We encourage participants to pre-register for the conference call webcast using the following link https://dpregister.com/sreg/10157220/e9185e9690. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time.

To participate in CRC’s conference call, either dial (877) 328-5505 (International callers please dial +1-412-317-5421) or access via webcast at www.crc.com, fifteen minutes prior to the scheduled start time to register. A digital replay of the conference call will be archived for approximately 90 days and available online on the Investor Relations page at www.crc.com.

About California Resources Corporation (CRC)

California Resources Corporation (CRC) is an independent oil and natural gas exploration and production company, applying complementary and integrated infrastructure to gather, process and market its production. Using advanced technology, CRC focuses on safely and responsibly supplying affordable energy.

Joanna Park (Investor Relations)

818-661-3731

[email protected]

Richard Venn (Media)

818-661-6014

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Energy Utilities Oil/Gas

MEDIA:

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Kaman Announces CFO Transition

Kaman Announces CFO Transition

James Coogan to Succeed Robert Starr as Chief Financial Officer

BLOOMFIELD, Conn.–(BUSINESS WIRE)–
Kaman Corporation (NYSE:KAMN) (the “Company”) today announced the appointment of James Coogan as Senior Vice President and Chief Financial Officer, effective immediately. Mr. Coogan, who served as the Vice President, Investor Relations and Corporate Development of Kaman, will succeed Robert Starr. Mr. Starr will continue to be employed by the Company through July 31, 2021, as Executive Vice President and will work closely with Mr. Coogan and the Kaman leadership team to ensure a seamless transition.

Mr. Coogan joined Kaman in 2008 as Manager of External Reporting and SEC Compliance, during which time he helped enhance Kaman’s SEC reporting systems and controls. In addition, Mr. Coogan served as the Company’s Vice President – Investor Relations and Assistant Vice President – SEC Compliance and External Reporting. In addition to serving as the Company’s primary contact with the investment community, Mr. Coogan played an integral role in the Company’s acquisition of Bal Seal in 2020 and the divestiture of Kaman Distribution Group in 2019.

In his new role, Mr. Coogan will oversee financial reporting, accounting, tax, treasury, risk management and financial planning and analysis. He will also continue to oversee the Company’s investor relations and corporate development functions.

Ian K. Walsh, Chairman, President and Chief Executive Officer, commented, “During his 12-year career at Kaman, Jamie has demonstrated deep financial acumen, a strong strategic mindset and proven leadership abilities. He has served in several positions with increasing responsibility across the organization and has played a key role in the development of the Company’s growth strategies. Jamie brings a diverse skill set to the CFO role which will prove invaluable as we continue to deliver on our long-term value creation initiatives. Furthermore, Jamie’s appointment is a reflection of the strength of our management bench and our focus on providing opportunities for advancement from within. Supported by our strong finance team, we look forward to benefiting from Jamie’s expertise as we continue to build on our strong financial position.”

“During his 12-year tenure at Kaman, Rob has overseen significant transformation. On behalf of the Board and management, I want to thank him for his contributions to Kaman. I am also personally grateful for his support and partnership during my transition into Kaman. Our dedicated and talented finance team is extremely well positioned to continue transforming the business and delivering on our objectives. We wish Rob all the best in his future endeavors,” Walsh added.

“Kaman is an outstanding company with a strong financial foundation and significant opportunities for growth and value creation, and I am honored to be named CFO at this important time,” said Coogan. “I look forward to working closely with Ian, the leadership team and finance organization to drive growth and enhanced value for all stakeholders.”

“It has been a highlight of my career to serve as Kaman’s CFO and to have worked with such an outstanding team during a period of significant transformation,” Starr said. “I’m proud of all we have accomplished and am confident that Kaman is well positioned for continued success. Jamie is a talented leader well suited for this new role, and I look forward to working closely with him over the coming month to enable a smooth transition.”

About Kaman Corporation

Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut, conducts business in the aerospace & defense, industrial and medical markets. Kaman produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; proprietary spring energized seals, springs and contacts; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arming solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification and support of our SH-2G Super Seasprite maritime helicopters; manufacture and support of our K-MAX® manned and unmanned medium-to-heavy lift helicopters. More information is available at www.kaman.com.

Kristen Samson

Vice President and Chief Marketing Officer

[email protected]

860-243-6330

KEYWORDS: New York Connecticut United States North America

INDUSTRY KEYWORDS: Aerospace Accounting Technology Manufacturing Professional Services Air Transport Other Defense Defense Hardware Finance

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