Invesco Ltd. To Announce Fourth Quarter 2020 Results

PR Newswire

ATLANTA, Jan. 12, 2021 /PRNewswire/ — Invesco Ltd. (NYSE: IVZ) will release its fourth quarter 2020 results on Tuesday, January 26, at approximately 7 a.m. ET. A conference call will be held at 9 a.m. ET to discuss the results.

Those wishing to participate should call:

US & Canada Toll Free:

866-803-2143

International:

1-210-795-1098

Passcode: Invesco

The presentation will be made available via a simultaneous webcast at www.invesco.com/corporate.

An audio replay will be available approximately one hour after the call:

U.S. & Canada:

800-867-1930

International:

1-203-369-3371

The replay will be removed after February 09, 2021.

About Invesco Ltd.
Invesco is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. With offices in 25 countries, our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. For more information, visit www.invesco.com/corporate.

Investor Relations Contact: Greg Ketron 404-724-4299;
Aimee Partin 404-724-4248
Media Relations Contact: Graham Galt 404-439-3070

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/invesco-ltd-to-announce-fourth-quarter-2020-results-301206866.html

SOURCE Invesco Ltd.

Chubb Names Michael Kessler Global Head of Company’s Cyber Risk Insurance Business

PR Newswire

ZURICH, Jan. 12, 2021 /PRNewswire/ — Chubb today announced that Michael Kessler has been appointed Division President of the company’s global cyber risk insurance business.  Currently Vice President, Chubb Group and Chief Reinsurance Officer, Mr. Kessler in his new role will oversee all facets of the business including strategy, product and business development, underwriting and service operations, and overall profit and loss performance, which will continue to report into the company’s North America and international cyber risk divisions. 

Mr. Kessler will report to Paul Krump, Vice Chairman, Chubb Group, Global Underwriting and Claims to ensure global consistency of product design, enterprise risk management and risk tolerance, underwriting tools and loss mitigation services and protocols.  The appointment is effective immediately.

“Mike’s extensive experience and history with our company, his leadership of our global reinsurance function and his technical skills and actuarial background make him a highly capable executive to lead our global cyber practice,” said Mr. Krump. “Chubb’s industry-leading risk transfer, loss mitigation and incident response services for the rapidly evolving cyber risk threats faced by businesses of all sizes and individuals are more important than ever.  I have every confidence in Mike’s ability to lead this critically important global business for Chubb.”

William Wise, Senior Vice President of Chubb’s North America Professional Liability and Cyber practice, will report jointly to Mr. Kessler and Steven Goldman, Division President, Financial Lines, North America Insurance.  Kyle Bryant, Senior Vice President, Cyber Product Manager and Technology Practice Lead for Chubb’s international general insurance business, will report jointly to Mr. Kessler and Tim Stapleton, Executive Vice President, Financial Lines, Overseas General Insurance.

Mr. Kessler has nearly 30 years of experience in insurance and actuarial consulting.  In 2016 he was named Vice President, Chubb Group, a title he continues to hold, and Chief Reinsurance Officer.  Previously, he served as Chief Actuary for the company’s international general insurance business, a position he held from 2008.  Mr. Kessler joined the company, then named ACE, in 2003 as Senior Vice President and Chief Actuary for Westchester, the company’s U.S. commercial property and casualty excess and surplus lines business.  For the previous decade, he held senior manager and consulting actuary positions at Ernst & Young LLP and PricewaterhouseCoopers LLP.

Mr. Kessler holds a Bachelor of Arts degree in Mathematics from Cornell University.  He is a Member of the American Academy of Actuaries and a Fellow of the Casualty Actuarial Society.

About Chubb
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 33,000 people worldwide. Additional information can be found at: www.chubb.com.

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/chubb-names-michael-kessler-global-head-of-companys-cyber-risk-insurance-business-301206762.html

SOURCE Chubb Limited

Agree Realty Announces Fourth Quarter 2020 Earnings Release Date and Conference Call Information

PR Newswire

BLOOMFIELD HILLS, Mich., Jan. 12, 2021 /PRNewswire/ — Agree Realty Corporation (NYSE: ADC) (the “Company”) today announced that it will release its fourth quarter and full year 2020 operating results after the market closes on Thursday, February 18, 2021.  A conference call to discuss the Company’s operating results is scheduled for Friday, February 19, 2021 at 9:00 AM ET.  Interested parties and shareholders may access the call via teleconference or webcast:

Teleconference:

USA Toll Free 

(866) 363-3979

International 

(412) 902-4206

Webcast: 


https://www.webcaster4.com/Webcast/Page/408/39610


To participate, please dial-in or log-on at least five minutes prior to the scheduled time.

A live webcast of the conference call will also be available through the Company’s website. To access, log-on to http://www.agreerealty.com and go to the Invest section five minutes prior to the call.

A replay of the conference call webcast will be archived and available online through the Invest section of http://www.agreerealty.com.

About Agree Realty Corporation

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants.  As of December 31, 2020, the Company owned and operated a portfolio of 1,129 properties, located in 46 states and containing approximately 22.7 million square feet of gross leasable space. The Company’s common stock is listed on the New York Stock Exchange under the symbol “ADC”.  For additional information, please visit www.agreerealty.com.   

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/agree-realty-announces-fourth-quarter-2020-earnings-release-date-and-conference-call-information-301206808.html

SOURCE Agree Realty Corporation

Cincinnati Financial Schedules Webcast to Discuss Fourth-Quarter and Full-Year 2020 Results

PR Newswire

CINCINNATI, Jan. 12, 2021 /PRNewswire/ — Cincinnati Financial Corporation (Nasdaq: CINF) invites you to listen to the live internet broadcast of its conference call to discuss fourth-quarter and full-year 2020 results on Thursday, February 11, 2021, at 11 a.m. ET. The company plans to release its results on Wednesday, February 10, after the close of regular trading on the Nasdaq Stock Market.


What:      

CINF fourth-quarter and full-year 2020 earnings conference call


When:       

Thursday, February 11, 2021, at 11 a.m. ET


Where:       

Live over the internet.


How:      

Visit www.cinfin.com/investors. Participants are encouraged to go to the website to test your systems for compatibility prior to the time of the call.


Replay:    

A replay of the call will be available at cinfin.com/investors beginning approximately two hours after the completion of the live call.


Contact:    

Stephanie Johnson, 513-870-2768


About the Company:

Cincinnati Financial Corporation primarily offers business, home and auto insurance through The Cincinnati Insurance Company and its two standard market property casualty companies. The same local independent insurance agencies that market those policies may offer products of our other subsidiaries, including life insurance, fixed annuities and surplus lines property and casualty insurance. For additional information about the company, please visit cinfin.com.

Also available on the company’s website will be information reconciling any non–GAAP financial measures to be discussed on the conference call.

 

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/cincinnati-financial-schedules-webcast-to-discuss-fourth-quarter-and-full-year-2020-results-301206854.html

SOURCE Cincinnati Financial Corporation

EXFO reports first quarter results for fiscal 2021

PR Newswire


  • Sales reached US$71.5 million

  • Bookings attained US$69.0 million

  • IFRS net earnings totaled US$3.6 million, US$0.06 per share

  • Adjusted EBITDA amounted to US$9.9 million, 13.9% of sales

QUEBEC CITY, Jan. 12, 2021 /PRNewswire/ – EXFO Inc. (NASDAQ: EXFO) (TSX: EXF), the communications industry’s test, monitoring and analytics experts, reported today financial results for the first quarter ended November 30, 2020.

“EXFO delivered a strong first-quarter performance in fiscal 2021 as compared to a coronavirus-free opening quarter in 2020,” said EXFO’s CEO Philippe Morin. “Robust sales and earnings results confirm market acceptance of our highly differentiated solutions related to fiber, cloud-native and 5G network deployments as we continue to develop new ways to engage and serve our global customer base in this virtualized environment. We’re particularly pleased with our SASS offering’s penetration into new accounts through the recently announced fiber monitoring deal with BT’s subsidiary, Openreach, and five service assurance contracts secured in the fourth quarter of 2020.”

First-Quarter Highlights

  • Sales. Sales decreased 2.8% year-over-year in the first quarter of 2021 mainly due to the impact of the coronavirus pandemic, which was partially offset by stronger year-end calendar spending on the part of communications service providers. Test and Measurement (T&M) sales dropped 9.8% from a record US$55.9 million in first quarter of 2020, while Service Assurance, Systems and Services (SASS) sales increased 18.6% year-over-year. Sales in Europe, Middle East and Africa (EMEA) and Asia-Pacific improved 23.3% and 9.2% year-over-year, respectively, while sales in the Americas fell 20.4%. EXFO’s top customer accounted for 4.3% of sales, while the top three represented 12.6%.

  • Profitability. IFRS net earnings totaled US$3.6 million, or US$0.06 per share, in the first quarter of 2021, while adjusted EBITDA amounted to US$9.9 million, or 13.9% of sales. Net earnings included an after-tax wage subsidy of US$1.4 million under the Canada emergency wage subsidy program to help qualifying businesses alleviate the effects of the pandemic, as well as an after-tax insurance recovery of US$2.5 million related to the loss of assets.


Selected Financial Information


(In thousands of US dollars)


Three months ended
November 30,


2020


2019

Test and measurement sales

$

50,473

$

55,947

Service assurance, systems and services sales

21,046

17,749

Foreign exchange losses on forward exchange contracts

(7)

(145)

Total sales

$

71,512

$

73,551

Test and measurement bookings

$

51,248

$

55,009

Service assurance, systems and services bookings

17,802

15,049

Foreign exchange losses on forward exchange contracts

(7)

(145)

Total bookings

$

69,043

$

69,913

Book-to-bill ratio (bookings/sales)

0.97

0.95

Gross margin before depreciation and amortization*

$

41,643

$

43,310

58.2%

58.9%


Other selected information:

IFRS net earnings (loss)

$

3,554

$

(63)

Amortization of intangible assets

$

2,549

$

1,632

Stock-based compensation costs

$

568

$

487

Restructuring charges

$

543

$

Net income tax effect of the above items

$

(530)

$

(249)

Foreign exchange loss

$

246

$

126

Adjusted EBITDA*

$

9,949

$

7,544

Quarterly Overview
Sales decreased 2.8% to US$71.5 million in the first quarter of fiscal 2021 from US$73.6 million in the first quarter of 2020.

Bookings dropped 1.2% to US$69.0 million in the first quarter of fiscal 2021 from US$69.9 million for the same period in 2020. The company’s book-to-bill ratio was 0.97 in the first quarter of 2021.

Gross margin before depreciation and amortization* amounted to 58.2% of sales in the first quarter of fiscal 2021 compared to 58.9% in the first quarter of 2020.

Selling and administrative expenses totaled US$21.6 million, or 30.2% of sales in the first quarter of fiscal 2021 compared to US$24.5 million, or 33.3% of sales, in the first quarter of 2020.

Net R&D expenses amounted to US$11.2 million, or 15.7% of sales, in the first quarter of fiscal 2021 compared to US$11.7 million, or 16.0% of sales, in the same period last year.

IFRS net earnings totaled US$3.6 million, or US$0.06 per share, in the first quarter of fiscal 2021 compared to a net loss of US$0.1 million, or US$0.00 per share, in the first quarter of 2020. IFRS net earnings in the first quarter of 2021 included US$2.0 million in after-tax amortization of intangible assets, US$0.6 million in stock-based compensation costs, US$0.5 million in after-tax restructuring charges and a foreign exchange loss of US$0.2 million. IFRS net earnings also included an after-tax wage subsidy of US$1.4 million under the Canada emergency wage subsidy program to help qualifying businesses alleviate the effects of the coronavirus pandemic, as well as an after-tax insurance recovery of US$2.5 million related to the loss of assets.

For the first quarter of 2020, net loss included US$1.4 million in after-tax amortization of intangible assets, US$0.5 million in stock-based compensation costs and a foreign exchange loss of US$0.1 million.

Adjusted EBITDA* amounted to US$9.9 million, or 13.9% of sales, in the first quarter of fiscal 2021 compared to US$7.5 million, or 10.3% of sales, in the first quarter of 2020.

Conference Call and Webcast
EXFO will host a conference call today at 5 p.m. (Eastern time) to review first-quarter results for fiscal 2021. To listen to the conference call and participate in the question period via telephone, dial 1-323-289-6576. Please take note the following participant passcode will be required: 2900379. Executive Chairman Germain Lamonde, CEO Philippe Morin and Pierre Plamondon, CPA, Chief Financial Officer and Vice-President of Finance, will participate in the call. An audio replay of the conference call will be available two hours after the event until 8 p.m. on January 19, 2021. The replay number is 1-719-457-0820 and the participant passcode is 2900379. The audio Webcast and replay of the conference call will also be available on EXFO’s website at www.EXFO.com, under the Investors section.

About EXFO
EXFO (NASDAQ: EXFO) (TSX: EXF) develops smarter test, monitoring and analytics solutions for fixed and mobile network operators, webscale companies and equipment manufacturers in the global communications industry. Our customers count on us to deliver superior network performance, service reliability and subscriber insights. They count on our unique blend of equipment, software and services to accelerate digital transformations related to fiber, 4G/LTE and 5G deployments. They count on our expertise with automation, real-time troubleshooting and big data analytics, which are critical to their business performance. We’ve spent over 30 years earning this trust, and today 1,900 EXFO employees in over 25 countries work side by side with our customers in the lab, field, data center and beyond.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, and we intend that such forward-looking statements be subject to the safe harbors created thereby. Forward-looking statements are statements other than historical information or statements of current condition. Words such as may, expect, believe, plan, anticipate, intend, could, estimate, continue, or similar expressions or the negative of such expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events and circumstances are considered forward-looking statements. They are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those in forward-looking statements due to various factors including, but not limited to, macroeconomic uncertainty, namely the impact of the coronavirus pandemic on our employees, customers and global operations, including the ability of our suppliers to fulfil raw material requirements and services and our ability to manufacture and deliver our products and services to our customers; the effects of emergency measures related to isolation periods for individuals in affected areas, lockdown restrictions imposed by national governments on businesses in countries where we operate and have employees, and limitations on travel to attract new customers and serve existing ones; deteriorating financial and market conditions as well as a potential recession; trade wars, and our ability to successfully integrate businesses that we acquire; capital spending and network deployment levels in the communications industry (including our ability to quickly adapt cost structures to anticipated levels of business and our ability to manage inventory levels with market demand); future economic, competitive, financial and market conditions; consolidation in the global communications test, monitoring and analytics solutions markets and increased competition among vendors; capacity to adapt our future product offering to future technological changes; limited visibility with regard to the timing and nature of customer orders; delay in revenue recognition due to longer sales cycles for complex systems involving customers’ acceptance; fluctuating exchange rates; concentration of sales; timely release and market acceptance of our new products and other upcoming products; our ability to successfully expand international operations and to conduct business internationally; and the retention of key technical and management personnel. Assumptions relating to the foregoing involve judgments and risks, all of which are difficult or impossible to predict and many of which are beyond our control. Other risk factors that may affect our future performance and operations are detailed in our Annual Report, on Form 20-F, and our other filings with the U.S. Securities and Exchange Commission and the Canadian securities commissions. We believe that the expectations reflected in the forward-looking statements are reasonable based on information currently available to us, but we cannot assure you that the expectations will prove to have been correct. Accordingly, you should not place undue reliance on these forward-looking statements. These statements speak only as of the date of this document. Unless required by law or applicable regulations, we undertake no obligation to revise or update any of them to reflect events or circumstances that occur after the date of this document.

*Non-IFRS Measures
EXFO provides non-IFRS measures (gross margin before depreciation and amortization and adjusted EBITDA) as supplemental information regarding its operational performance. Gross margin before depreciation and amortization represents sales, less cost of sales, excluding depreciation and amortization. Adjusted EBITDA represents net earnings (loss) before interest and other income/expenses, income taxes, depreciation and amortization, stock-based compensation costs, restructuring charges and foreign exchange loss.

These non-IFRS measures eliminate the effect on IFRS results of non-cash statement of earnings elements, restructuring charges as well as elements subject to significant volatility such as foreign exchange gain or loss. EXFO uses these measures for evaluating its historical and prospective financial performance, as well as its performance relative to competitors. These non-IFRS measures are also used by financial analysts who evaluate and compare EXFO’s performance against that of competitors and industry players in the sector.

Finally, these measures help EXFO to plan and forecast future periods as well as make operational and strategic decisions. EXFO believes that providing this information to investors, in addition to IFRS measures, allows them to see the company’s results through the eyes of management, and to better understand historical and future financial performance. More importantly, it enables the comparison of EXFO’s performance on a relatively similar basis against that of other public and private companies in the industry worldwide.

The presentation of this additional information is not prepared in accordance with IFRS. Therefore, the information may not necessarily be comparable to that of other companies and should be considered as a supplement to, not a substitute for, the corresponding measures calculated in accordance with IFRS.

The following table summarizes the reconciliation of adjusted EBITDA to IFRS net earnings (loss) loss in thousands of US dollars:

Adjusted EBITDA


Three months ended


November 30,


2020


2019

IFRS net earnings (loss) for the period

$

3,554

$

(63)

Add (deduct):

Depreciation and amortization

4,723

3,926

Interest and other (income) expenses

(1,866)

399

Income taxes

2,181

2,669

Stock-based compensation costs

568

487

Restructuring charges

543

Foreign exchange loss

246

126

Adjusted EBITDA for the period

$

9,949

$

7,544

Adjusted EBITDA in percentage of sales

13.9%

10.3%

 


EXFO Inc.


Condensed Unaudited Interim Consolidated Balance Sheets

(in thousands of US dollars)


As at


November 30,


2020


As at


August 31,


2020


Assets


Current assets

Cash

$

15,392

$

32,818

Short-term investments

1,106

919

Accounts receivable

Trade

55,541

56,291

Other

6,090

4,055

Income taxes and tax credits recoverable

2,337

4,203

Inventories

41,769

38,865

Prepaid expenses

5,422

5,631

Other assets

4,009

5,493

131,666

148,275


Tax credits recoverable

49,961

48,812


Property, plant and equipment

39,303

39,722


Lease right-of-use assets

9,228

10,758


Intangible assets

15,481

17,616


Goodwill

40,451

40,290


Deferred income tax assets

4,147

3,633


Other assets

1,521

1,548

$

291,758

$

310,654


Liabilities


Current liabilities

Bank loan

$

16,314

$

32,737

Accounts payable and accrued liabilities

39,405

41,348

Provisions

2,333

3,792

Income taxes payable

242

43

Deferred revenue

24,345

25,785

Other liabilities

4,040

4,032

Current portion of lease liabilities

2,870

3,249

Current portion of long-term debt

1,880

2,076

91,429

113,062


Provisions

2,784

2,782


Deferred revenue

8,887

8,858


Lease liabilities

6,715

7,334


Long-term debt

1,759

2,144


Deferred income tax liabilities

2,925

3,760


Other liabilities

144

151

114,643

138,091


Shareholders’ equity

Share capital

94,190

94,024

Contributed surplus

19,724

19,680

Retained earnings

106,187

102,633

Accumulated other comprehensive loss

(42,986)

(43,774)

177,115

172,563

$

291,758

$

310,654

 


EXFO Inc.


Condensed Unaudited Interim Consolidated Statements of Earnings

(in thousands of US dollars, except share and per share data)


Three months ended


November 30,


2020


2019


Sales

$

71,512

$

73,551

Cost of sales (1)

29,869

30,241

Selling and administrative

21,606

24,504

Net research and development 

11,199

11,749

Depreciation of property, plant and equipment

1,341

1,443

Depreciation of lease right-of-use assets

833

851

Amortization of intangible assets

2,549

1,632

Interest and other (income) expense

(1,866)

399

Foreign exchange loss

246

126


Earnings before income taxes

5,735

2,606


Income taxes

2,181

2,669


Net earnings (loss) for the period

$

3,554

$

(63)


Basic and diluted net earnings (loss) per share

$

0.06

$

(0.00)


Basic weighted average number of shares outstanding (000’s)

55,749

55,439


Diluted weighted average number of shares outstanding (000’s)

57,023

55,439

(1)  The cost of sales is exclusive of depreciation and amortization, shown separately.

 


EXFO Inc.


Condensed Unaudited Interim Consolidated Statements of Comprehensive Income

(in thousands of US dollars)


Three months ended


November 30,


2020


2019


Net earnings (loss) for the period

$

3,554

$

(63)

Other comprehensive income (loss), net of income taxes

Items that may be reclassified subsequently to net earnings (loss)

Foreign currency translation adjustment

722

561

Unrealized gains/losses on forward exchange contracts

256

(35)

Reclassification of realized gains/losses on forward exchange contracts in net earnings (loss)

(156)

183

Deferred income tax effect of gains/losses on forward exchange contracts

(34)

(30)

Other comprehensive income

788

679


Comprehensive income for the period

$

4,342

$

616

 


EXFO Inc.


Condensed Unaudited Interim Consolidated Statements of Changes in Shareholders’ Equity

(in thousands of US dollars)


Three months ended November 30, 2019


Share



capital


Contributed
surplus


Retained
earnings


Accumulated
other
comprehensive
loss


Total



shareholders’
equity

Balance as at September 1, 2019

$

92,706

$

19,196

$

112,173

$

(51,511)

$

172,564

Reclassification of stock-based compensation costs

861

(861)

Redemption of share capital

(212)

(13)

(225)

Stock-based compensation costs

494

494

Net loss for the period

(63)

(63)

Other comprehensive income

Foreign currency translation adjustment

561

561

Changes in unrealized gains/losses on forward exchange contracts, net of deferred income taxes of $30

118

118

Total comprehensive income for the period

616

Balance as at November 30, 2019

$

93,355

$

18,816

$

112,110

$

(50,832)

$

173,449


Three months ended November 30, 2020


Share



capital


Contributed
surplus


Retained
earnings


Accumulated
other
comprehensive
loss


Total



shareholders’
equity

Balance as at September 1, 2020

$

94,024

$

19,680

$

102,633

$

(43,774)

$

172,563

Reclassification of stock-based compensation costs

704

(704)

Redemption of share capital

(538)

158

(380)

Stock-based compensation costs

590

590

Net earnings for the period

3,554

3,554

Other comprehensive income

Foreign currency translation adjustment

722

722

Changes in unrealized gains/losses on forward exchange contracts, net of deferred income taxes of $34

66

66

Total comprehensive income for the period

4,342

Balance as at November 30, 2020

$

94,190

$

19,724

$

106,187

$

(42,986)

$

177,115

 

 


EXFO Inc.


Condensed Unaudited Interim Consolidated Statements of Cash Flows

(in thousands of US dollars)


Three months ended


November 30,


2020


2019


Cash flows from operating activities

Net earnings (loss) for the period

$

3,554

$

(63)

Add (deduct) items not affecting cash

Stock-based compensation costs

568

487

Depreciation and amortization

4,723

3,926

Write-off of capital assets

10

216

Deferred revenue

(1,600)

(4,372)

Deferred income taxes

(1,318)

(442)

Changes in foreign exchange gain/loss

212

(21)

6,149

(269)

Changes in non-cash operating items

Accounts receivable

(831)

72

Income taxes and tax credits

1,220

516

Inventories

(2,605)

(3,493)

Prepaid expenses

579

378

Other assets

1,391

35

Accounts payable, accrued liabilities and provisions

(3,833)

(3,693)

Other liabilities

(8)

(16)

2,062

(6,470)


Cash flows from investing activities

Additions to short-term investments

(230)

(147)

Disposal of short-term investments

30

563

Purchases of capital assets

(1,111)

(2,040)

(1,311)

(1,624)


Cash flows from financing activities

Bank loan

(16,338)

8,354

Repayment of lease liabilities

(833)

(844)

Repayment of long-term debt

(581)

(676)

Redemption of share capital

(380)

(225)

(18,132)

6,609


Effect of foreign exchange rate changes on cash

(45)

12


Change in cash

(17,426)

(1,473)


Cash – Beginning of the period

32,818

16,518


Cash – End of the period

$

15,392

$

15,045

EXFO-F

Cision View original content:http://www.prnewswire.com/news-releases/exfo-reports-first-quarter-results-for-fiscal-2021-301206898.html

SOURCE EXFO Inc.

Brooks Announces GENEWIZ Selected as Genome Characterization Center by the National Cancer Institute

PR Newswire

CHELMSFORD, Mass., Jan. 12, 2021 /PRNewswire/ — Brooks Automation, Inc. (Nasdaq:BRKS)  announced today that GENEWIZ, the Company’s genomics analysis business, has been awarded one of six  Genome Characterization Center Indefinite Delivery Indefinite Quantity (IDIQ) contracts from the National Cancer Institute (NCI). The NCI, the nation’s leader in cancer research and part of the National Institutes of Health (NIH), chose GENEWIZ to provide whole exome sequencing to new research projects at its Center for Cancer Genomics for a period of three years.

“This contract for Brooks to provide whole exome sequencing to the National Cancer Institute demonstrates the outstanding reputation of GENEWIZ in the cancer research community,” commented Steve Schwartz, president and CEO of Brooks Automation. “We are proud that GENEWIZ’s expertise in gene sequencing is an enabling factor for the important research at the NCI, and for the enduring benefit of cancer patients.” 

“The data NCI generates for the entire cancer research community across the nation supports the mission to advance scientific knowledge and help all people live longer, healthier lives,” shared Dr. Ginger Zhou, vice president of genomics services at GENEWIZ. “We are honored to become an integral part of this initiative.”

GENEWIZ will generate data from DNA samples received from the Biospecimen Core Resource and send raw sequencing data, associated metadata, and other characterization data to the Genomic Data Commons. This data will then be shared with the Genomic Data Analysis Network and research community.

The Center for Cancer Genomics coordinates research teams across the United States and Canada to produce rich cancer genomic and clinical datasets for the cancer research community. They implement these collective efforts through a standardized workflow called the Genome Characterization Pipeline. Components of this pipeline include tissue collecting and processing, genome characterization, genomic data analysis, as well as data sharing and discovery.

About Brooks Automation
Brooks (Nasdaq: BRKS) is a leading provider of life science sample-based solutions and semiconductor manufacturing solutions worldwide. The Company’s Life Sciences business provides a full suite of reliable cold-chain sample management solutions and genomic services across areas such as drug development, clinical research and advanced cell therapies for the industry’s top pharmaceutical, biotech, academic and healthcare institutions globally. Brooks Life Sciences’ GENEWIZ division is a leading provider of gene sequencing and gene synthesis services. With over 40 years as a partner to the semiconductor manufacturing industry, Brooks is a provider of industry-leading precision vacuum robotics, integrated automation systems and contamination control solutions to the world’s leading semiconductor chip makers and equipment manufacturers. Brooks is headquartered in Chelmsford, MA, with operations in North America, Europe and Asia. For more information, visit www.brooks.com.

BROOKS INVESTOR CONTACT:
Sherry Dinsmore
Brooks Automation
978.262.4301
[email protected]

John Mills

Managing Partner
ICR, LLC
646.277.1254
[email protected]

 

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/brooks-announces-genewiz-selected-as-genome-characterization-center-by-the-national-cancer-institute-301206883.html

SOURCE Brooks Automation

Quantum to Release Fiscal Third Quarter 2021 Financial Results and Host Investor Conference Call on Wednesday, January 27th

PR Newswire

SAN JOSE, Calif., Jan. 12, 2021 /PRNewswire/ — Quantum Corporation (NASDAQ: QMCO) announced today it will release financial results for its third fiscal quarter ended December 31, 2020 on Wednesday, January 27, 2021 after the close of the market. Jamie Lerner, Quantum’s Chairman and CEO, and Mike Dodson, Chief Financial Officer, will host a conference call at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss the financial results.

Analysts and investors are invited to dial into the conference call using the following information:

Date: Wednesday, January 27, 2021
Time:4:30 p.m. ET (1:30 p.m. PT)
Conference Call Number: 1-888-506-0062
International Call Number: +1-973-528-0011
Webcast link (listen only) and presentation slides: http://investors.quantum.com

A telephone replay of the conference call will be available approximately two hours after the conference call and will be available through February 3, 2021. To access the replay dial 1-877-481-4010 and enter the pass code 39583 at the prompt. International callers should dial +1-919-882-2331 and enter the same passcode. Following the conclusion of the live call, a replay of the webcast will be available on the Company’s website for at least 90 days.

About Quantum
Quantum technology and services help customers capture, create and share digital content – and preserve and protect it for decades.  With solutions built for every stage of the data lifecycle, Quantum’s platforms provide the fastest performance for high-resolution video, images, and industrial IoT. That’s why the world’s leading entertainment companies, sports franchises, researchers, government agencies, enterprises, and cloud providers are making the world happier, safer, and smarter on Quantum. Quantum is listed on Nasdaq (QMCO) and was added to the Russell 2000® Index in 2020 as part of the index’s annual constitution. For more information visit www.quantum.com/.

Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.

Investor Relations Contact:
Shelton Group
Leanne K. Sievers | Jeffrey Schreiner
P: 949-224-3874 | 512-243-8976
E: [email protected]

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/quantum-to-release-fiscal-third-quarter-2021-financial-results-and-host-investor-conference-call-on-wednesday-january-27th-301206881.html

SOURCE Quantum Corp.

Supermicro Unveils Industry’s-First 64-Core Workstation Supporting Four Double-Width GPUs with AMD Ryzen™ Threadripper™ PRO Processor at All-Digital CES® 2021

Workstation Complements Industry’s Broadest Portfolio of 2nd Gen AMD EPYC™ Based High-Density, Superior Performance Server Solutions

PR Newswire

SAN JOSE, Calif., Jan. 12, 2021 /PRNewswire/ — Super Micro Computer, Inc. (SMCI), a global leader in enterprise computing, storage, networking solutions, and green computing technology, extended its industry-proven workstation family with a new generation server-grade high-end workstation that offers maximum configurability and reliability in a robust single-socket platform. The new workstation is just the latest in Supermicro’s overall support of AMD processors, including the 2nd Gen AMD EPYC™ based servers for multiple applications.

The highly versatile, configurable platform harnesses the power of the AMD Ryzen Threadripper PRO Processor with up to 64 cores and 128 PCI-E 4.0 lanes, doubling the data throughput of the previous generation. The new workstation (AS -5014A-TT) dramatically boosts productivity for demanding professional workloads found in media content creation, scientific research, visualization, deep learning (DL) and artificial intelligence (AI), virtual or augmented reality (VR/AR), and 3-D modeling with real-time simulation.

“When AMD’s new processor is coupled with Supermicro’s advanced workstation design and architecture, today’s professionals can truly bring their productivity to the next level,” said Vik Malyala, senior vice president, Supermicro. “It can drive up to four full-height, double-width, active cooling GPUs, double that of similar systems in the market, and supports up to 2TB of DDR4 3200 memory, and four M.2 slots for ultra-fast PCI-E Gen 4 NVMe storage. Also, with built-in 10Gigatbit Ethernet, and support for 25/100/200G NICs, the platform accelerates data-intensive workloads and transfer speed — required for today’s content creators, deep learning professionals, and engineers.”   

“AMD Ryzen™ Threadripper™ PRO processors have been designed to set the industry standard for workstation compute performance,” said Chris Kilburn, corporate vice president and general manager, client component business unit, AMD. “With the new AS-5014A-TT Workstation, Supermicro has designed a powerful and flexible platform, dedicated to maximizing the full spectrum of compute capabilities offered by AMD Ryzen Threadripper PRO processors.”

Supermicro 2nd Gen AMD EPYC™ Solutions

In addition to Supermicro’s support for the AMD Ryzen Threadripper PRO processors, Supermicro continues to deliver a wide range of solutions leveraging AMD’s 2nd Gen EPYC series. These include the H12 SuperBlade® and single and dual-socket multi-node A+ Twin Servers, the I/O and cost-effectiveness focused WIO line of A+ Servers, as well as dual AMD EPYC processors with multi-GPU servers supporting eight double-width GPUs in 4U, NVIDIA HGX A100 8-GPU in 4U, 4-GPU in 2U. With PCI-E 4.0 x16 support, these A+ Servers can deliver 200G network connectivity and feature a large, ultra-fast storage footprint and DDR4 memory up 3200MHz to deliver record-breaking performance with compelling TCO and TCE.

Workstation Portfolio Solutions

Supermicro Workstation systems are highly customizable and can be purpose-built for architecture engineering and construction (AEC), media and entertainment (M&E), engineering and manufacturing, product design and simulation, oil and gas, and deep learning applications. For more information on Supermicro’s complete line of Workstation solutions, visit Workstation.

The workstation also provides Supermicro’s data center server level of robust management feature set for deployment and maintenance, including IPMI and Redfish APIs allowing IT managers to manage remotely, monitor, restore, and upgrade systems. Additionally, unlike similar competitive offerings, the system has a dedicated chamber for optional liquid cooling for customers that require higher thermal and acoustic performance. Supermicro service and support ensures seamless integration of system options and to maximize performance for desired workloads. In addition, the system supports Trusted Platform Module (TPM) for enhanced security.

About Super Micro Computer, Inc.

Supermicro (SMCI), the leading innovator in high-performance, high-efficiency server technology is a premier provider of advanced server Building Block Solutions® for Enterprise Data Center, Cloud Computing, Artificial Intelligence, and Edge Computing Systems worldwide. Supermicro is committed to protecting the environment through its “We Keep IT Green®” initiative and provides customers with the most energy-efficient, environmentally-friendly solutions available on the market.

Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.

All other brands, names and trademarks are the property of their respective owners.

SMCI-F

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/supermicro-unveils-industrys-first-64-core-workstation-supporting-four-double-width-gpus-with-amd-ryzen-threadripper-pro-processor-at-all-digital-ces-2021-301206862.html

SOURCE Super Micro Computer, Inc.

Neuronetics Reports Preliminary Fourth Quarter and Fiscal Year 2020 Financial Results

MALVERN, Pa., Jan. 12, 2021 (GLOBE NEWSWIRE) — Neuronetics, Inc. (NASDAQ: STIM), a commercial stage medical technology company focused on designing, developing and marketing products that improve the quality of life for patients who suffer from psychiatric disorders, today, in advance of the ICR/Westwicke Conference, announced certain preliminary unaudited fourth quarter and full year 2020 revenue results.

Fourth Quarter 2020

  • Fourth quarter 2020 preliminary unaudited revenue between $15.0 and $15.5 million compared to previously issued guidance of $13.0 and $13.5 million. This represents a sequential increase of between 21% and 25% compared to third quarter 2020.

Full Year 2020

  • Full year 2020 preliminary unaudited revenue between $48.7 and $49.2 million.

“During the quarter, we continued to see increased demand for NeuroStar Advanced Therapy systems, and we saw a strong uptick in treatment session revenues as compared to the third quarter despite the continued uncertainty related to COVID-19 and the busy holiday season,” said Keith J. Sullivan, President and Chief Executive Officer of Neuronetics. “One of my goals for 2020 was to build a strong foundation that will allow us to execute against our long-term strategy. As previously announced, we recently added twenty-two new field sales personnel who are now being trained with the expectation that they will be fully productive by the second quarter of 2021. We also received the results of our market research. The findings are being incorporated into our new marketing campaigns and support materials that are designed to increase awareness of NeuroStar Advanced Therapy for Mental Health as a non-drug treatment therapy for patients who suffer from depression. These new campaigns will be launched after our January National Sales Meeting.”

Total revenue for the fourth quarter of 2020 is expected to be in the range of approximately $15.0 to $15.5 million, representing a decrease of approximately 14% and 11%, respectively, when compared with $17.4 million for the fourth quarter of 2019 due to the impact of COVID-19.

Total revenue for the full year 2020 is expected to be in the range of approximately $48.7 to $49.2 million, representing a decrease of approximately 22% and 21%, respectively, when compared with $62.7 million for the full year 2019 due to the impact of COVID-19.

2021 Business Outlook

Looking ahead to full year 2021, the Company is expecting the recovery to continue and assuming the country doesn’t see a resurgence of COVID-19 that impacts our customers and patients, revenues should approach 2019 revenues.

Formal full year 2021 guidance will be provided when the Company reports fourth quarter and full year 2020 results.

Upcoming Investor Conference Presentations

The Company previously announced that Keith Sullivan, President and Chief Executive Officer, and Steve Furlong, Chief Financial Officer, will be participating in the 23rd Annual ICR/Westwicke Conference, including a company presentation and a panel discussion on Thursday, January 14, 2021. Webcasts of the presentation and panel discussion will be available online at the investor relations page of the Company’s website at ir.neuronetics.com.

About Neuronetics

Neuronetics, Inc. is a commercial-stage medical technology company focused on designing, developing, and marketing products that improve the quality of life for patients who suffer from psychiatric disorders. Its commercial product, the NeuroStar® Advanced Therapy System, is a non-invasive and non-systemic office-based treatment that uses transcranial magnetic stimulation, or TMS, to create a pulsed, MRI-strength magnetic field that induces electrical currents designed to stimulate specific areas of the brain associated with mood. The system is cleared by the United States Food and Drug Administration, or FDA, for the treatment of major depressive disorder in adult patients who have failed to achieve satisfactory improvement from prior antidepressant medication in the current episode. NeuroStar is also available in other parts of the world, including Japan, where it is listed under Japan’s national health insurance. Additional information can be found at www.neuronetics.com.

“Safe harbor” statement under the Private Securities Litigation Reform Act of 1995:

Statements in the press release regarding Neuronetics, Inc. (the “Company”) that are not historical facts constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terms such as “outlook,” “potential,” “believe,” “expect,” “plan,” “anticipate,” “predict,” “may,” “will,” “could,” “would” and “should” as well as the negative of these terms and similar expressions. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, risks and uncertainties related to: the impact of COVID-19 on general political and economic conditions, including as a result of efforts by governmental authorities to mitigate COVID-19, such as travel bans, shelter in place orders and third-party business closures and the related impact on resource allocations, manufacturing and supply chains and patient access to commercial products; the Company’s ability to execute its business continuity, operational and budget plans in light of the COVID-19 outbreak; the Company’s ability to achieve or sustain profitable operations due to its history of losses; the Company’s reliance on the sale and usage of its NeuroStar Advanced Therapy System to generate revenues; the scale and efficacy of the Company’s salesforce; availability of coverage and reimbursement from third-party payors for treatments using the Company’s products; physician and patient demand for treatments using the Company’s products; developments in respect of competing technologies and therapies for the indications that the Company’s products treat; product defects; the Company’s ability to obtain and maintain intellectual property protection for its technology; developments in clinical trials or regulatory review of NeuroStar Advanced Therapy System for additional indications; and developments in regulation in the United States and other applicable jurisdictions. For a discussion of these and other related risks, please refer to the Company’s recent SEC filings which are available on the SEC’s website at www.sec.gov. These forward-looking statements are based on the Company’s expectations and assumptions as of the date of this press release. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events or changes in the Company’s expectations.

Investor Contact:

Mark R. Klausner
Westwicke Partners
443-213-0501
[email protected] 

Media Contact:

Chelsey Manko
Vault Communications
610-455-2778
[email protected]



PennantPark Investment Corporation Schedules Earnings Release of First Fiscal Quarter 2021 Results

NEW YORK, Jan. 12, 2021 (GLOBE NEWSWIRE) — PennantPark Investment Corporation (the “Company”) (NASDAQ: PNNT) announced that it will report results for the first fiscal quarter ended December 31, 2020 on Tuesday, February 9, 2021 after the close of the financial markets.

The Company will also host a conference call at 12:00 p.m. (Eastern Time) on Wednesday, February 10, 2021 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 394-8218 approximately 5-10 minutes prior to the call. International callers should dial (323) 701-0225. All callers should reference conference ID #6696271 PennantPark Investment Corporation. An archived replay of the call will be available through February 24, 2021 by calling toll-free (888) 203-1112. International callers please dial (719) 457-0820. For all phone replays, please reference conference ID #6696271.

ABOUT PENNANTPARK INVESTMENT CORPORATION

PennantPark Investment Corporation is a business development company which principally invests in U.S. middle-market private companies in the form of first lien secured debt, second lien secured debt, subordinated debt and equity investments. PennantPark Investment Corporation is managed by PennantPark Investment Advisers, LLC.

ABOUT PENNANTPARK INVESTMENT ADVISERS, LLC

PennantPark Investment Advisers, LLC is a leading middle market credit platform, which has approximately $3.5 billion of assets under management.  Since its inception in 2007, PennantPark Investment Advisers, LLC has provided investors access to middle market credit by offering private equity firms and their portfolio companies as well as other middle-market borrowers a comprehensive range of creative and flexible financing solutions.  PennantPark Investment Advisers, LLC is headquartered in New York and has offices in Chicago, Houston and Los Angeles.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission. PennantPark Investment Corporation undertakes no duty to update any forward-looking statement made herein. You should not place undue influence on such forward-looking statements as such statements speak only as of the date on which they are made.

CONTACT:
Aviv Efrat
PennantPark Investment Corporation
(212) 905-1000
www.pennantpark.com