Market Newsdesk

LAS VEGAS, Jan. 11, 2021 /PRNewswire/ — Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence (“AI”) solutions and digital media properties, today announced that after an initial review of its fourth quarter 2020 performance, revenue for its fourth quarter ending December 31, 2020 is expected to total at least $4.7 million, bringing total revenue in fiscal year 2020 to over $10.0 million, representing a doubling of revenue compared to the $5.0 million recorded in fiscal year 2019. Additionally, Remark announced that its Board of Directors has authorized the future repurchase of up to $30.0 million of the company’s shares.

“Our multi-year commitment to building best-of-breed AI-driven computer vision solutions is beginning to gain traction, specifically in the retail, banking and education markets. Business activity has been strong and our Smart Customer Retail Platform has been adopted by several major banks in different regions of China. Smart Community projects are underway and expanding, and the rollout of China Mobile retail stores is expected to accelerate in the coming year,” noted Kai-Shing Tao, Chairman and Chief Executive Officer of Remark Holdings. “Finally, I am very pleased to announce Board approval for a stock repurchase program. The buyback plan demonstrates the Board’s confidence in our future and commitment to delivering value to all of our shareholders. We do not believe the current share price reflects the underlying value of Remark’s assets or the progress made in our core AI business.”

Under the terms of the intended program, Remark would repurchase its outstanding common shares from time to time in the open market and in privately negotiated transactions. The timing, price and quantity of purchases under the program will be at the discretion of Remark’s management and will depend upon a variety of factors including share price, general and business market conditions, compliance with applicable laws and regulations, corporate and regulatory requirements, and alternative uses of capital. Repurchases would be made in compliance with all Securities and Exchange Commission rules and other legal requirements and may be made in part under a Rule 10b5-1 plan, which permits stock repurchases when the issuer might otherwise be precluded from doing so.  The company would fund the intended buyback program with cash from any future asset monetization. 

About Remark Holdings, Inc.

Remark Holdings, Inc. (NASDAQ: MARK) delivers an integrated suite of AI solutions that enable businesses and organizations to solve problems, reduce risk and deliver positive outcomes. The company’s easy-to-install AI products are being rolled out in a wide range of applications within the retail, financial, public safety and workplace arenas. The company also owns and operates an e-commerce digital media property focused on a luxury beach lifestyle. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company’s website (www.remarkholdings.com).

Forward-Looking Statements

This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as “may,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, as well as statements in future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings’ Annual Report on Form 10-K and Remark Holdings’ other filings with the SEC. Any forward-looking statements reflect Remark Holdings’ current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings’ estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.

Company Contacts

E. Brian Harvey
Senior Vice President of Capital Markets and Investor Relations
Remark Holdings, Inc.
[email protected]
702-701-9514

Fay Tian

Vice President of Investor Relations
[email protected] 
(+1) 626-623-2000
(+86) 13702108000

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SOURCE Remark Holdings, Inc.

BATESVILLE, Ind., Jan. 11, 2021 /PRNewswire/ — Hillenbrand, Inc. (NYSE: HI) announced today that it has reached a definitive agreement to sell Abel Pumps, L.P., and certain of its affiliates (ABEL) to IDEX Corporation (NYSE: IEX). The sale follows Hillenbrand’s previously announced intent to exit the ABEL business.

Hillenbrand has entered into a Share and Interest Purchase and Transfer Agreement with IDEX, pursuant to which IDEX has agreed to acquire ABEL for $103.5 million in cash, subject to customary post-closing adjustments. The transaction is expected to be completed in Hillenbrand’s second fiscal quarter, subject to customary closing conditions.

“We are pleased to announce that we have reached an agreement to sell ABEL, which is a key part of our ability to drive shareholder value and strengthen our key business platforms,” said Joe Raver, President and CEO of Hillenbrand. “The divestiture of ABEL follows the recent sale of Red Valve and, together, furthers the execution of our strategy to streamline our portfolio, increase financial flexibility, and accelerate growth.”

Consistent with its current capital allocation priorities, Hillenbrand intends to use proceeds from the sale to reduce leverage and reinvest in organic growth and profitability opportunities.

Delphi Advisors served as Hillenbrand’s financial advisor on the divestiture.

About Hillenbrand
Hillenbrand (www.hillenbrand.com) is a global diversified industrial company with businesses that serve a wide variety of industries around the world. We pursue profitable growth and robust cash generation to drive increased value for our shareholders. Hillenbrand’s portfolio includes industrial businesses such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville, a recognized leader in the death care industry in North America. Hillenbrand is publicly traded on the NYSE under “HI.”

Forward-Looking Statements

Throughout this release, we make a number of “forward-looking statements” that are within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and that are intended to be covered by the safe harbor provided under these sections. As the words imply, these are statements about future sales, earnings, cash flow, results of operations, uses of cash, financings, share repurchases, ability to meet deleveraging goals, and other measures of financial performance or potential future plans or events, strategies, objectives, beliefs, prospects, assumptions, expectations, and projected costs or savings or transactions of the Company that might or might not happen in the future, as contrasted with historical information. Forward-looking statements are based on assumptions that we believe are reasonable, but by their very nature are subject to a wide range of risks. If our assumptions prove inaccurate or unknown risks and uncertainties materialize, actual results could vary materially from Hillenbrand’s (the “Company”) expectations and projections.

Words that could indicate that we are making forward-looking statements include the following:

This is not an exhaustive list, but is intended to give you an idea of how we try to identify forward-looking statements. The absence of any of these words, however, does not mean that the statement is not forward-looking.

Here is the key point: Forward-looking statements are not guarantees of future performance, and our actual results could differ materially from those set forth in any forward-looking statements. Any number of factors, many of which are beyond our control, could cause our performance to differ significantly from what is described in the forward-looking statements. These factors include, but are not limited to: the impact of contagious diseases such as the COVID-19 pandemic and the societal, governmental, and individual responses thereto, including supply chain disruption, loss of contracts and/or customers, erosion of some customers’ credit quality, downgrades of the Company’s credit quality, closure or temporary interruption of the Company’s or suppliers’ manufacturing facilities, travel, shipping and logistical disruptions, loss of human capital or personnel, and general economic calamities; risks that the integration of Milacron disrupts current operations or poses potential difficulties in employee retention or otherwise affects financial or operating results; the ability to recognize the benefits of the acquisition of Milacron or any other acquisition or disposition, including potential synergies and cost savings or the failure of the Company or any acquired company to achieve its plans and objectives generally; impairment charges to goodwill and other identifiable intangible assets; the risk of business disruptions associated with information technology, cyber-attacks, or catastrophic losses affecting infrastructure; competition in the industries in which we operate, including on price or from nontraditional sources in the death care industry; impacts of decreases in demand or changes in technological advances, laws, or regulation on the revenues that we derive from the plastics industry; our reliance upon employees, agents, and business partners to comply with laws in many countries and jurisdictions; the impact of the significant amount of indebtedness of the Company and its ability to meet its de-leveraging goals; the ability of the Company to comply with financial or other covenants in its debt agreements; global market and economic conditions, including those related to the financial markets; our level of international sales and operations; cyclical demand for industrial capital goods; continued fluctuations in mortality rates and increased cremations; the dependence of our business units on relationships with several large customers and providers; the impact to the Company’s effective tax rate of changes in the mix of earnings or tax laws and certain other tax-related matters; involvement in claims, lawsuits and governmental proceedings related to operations; uncertainty in the United States political environment or global trade policy; adverse foreign currency fluctuations; increased costs or unavailability of raw materials or certain outsourced services; labor disruptions; increasing competition for highly skilled and talented workers; and the effect of certain provisions of the Company’s governing documents and Indiana law that could decrease the trading price of the Company’s common stock. Shareholders, potential investors, and other readers are urged to consider these risks and uncertainties in evaluating forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. For a more in-depth discussion of these and other factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions under the heading “Risk Factors” in Part I, Item 1A of Hillenbrand’s Form 10-K for the year ended September 30, 2020, filed with the Securities and Exchange Commission (“SEC”) on November 12, 2020. The forward-looking information in this release speaks only as of the date hereof, and we assume no obligation to update or revise any forward-looking information. 

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SOURCE Hillenbrand, Inc.

WINDSOR, Conn., Jan. 11, 2021 /PRNewswire/ — SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) today announced that Zephyr Management (Zephyr) has selected SS&C to power its upcoming Bermuda fund launch.

The global asset manager will manage its modeling, trading and order management with SS&C Eze Eclipse, seamlessly integrating its middle- and back-office operations with SS&C’s fund administration services. Additionally, SS&C will automate Zephyr’s investor experience, including digital investor onboarding via SS&C e-Investor. SS&C CORE-Sightline will enable regulatory reporting and data management.

“We are truly impressed by the breadth and depth of capabilities SS&C offers,” said Timothy Horsburgh, Director of Research and Portfolio Manager. “As we embarked on our expansion, we were looking for a technology partner that would be able to get our funds up and running quickly and seamlessly SS&C delivered.”

Combining award-winning front-to-back investment management technology backed by the world’s largest fund administration business, the joint solution provides the most accurate and transparent way to maximize operational efficiencies and growth. Today, SS&C has more than 80 funds leveraging the deep front-to-back integration with Eze technology and SS&C’s fund administration services.

“We are pleased to support Zephyr Management in their new venture,” said Bill Stone, Chairman and CEO of SS&C Technologies. “We provide everything our clients need to seamlessly launch, run and grow their funds. The strength, variety and flexibility of our technology, supported by the expertise of our staff, ensures SS&C will provide a tailored out-of-the-box solution.”

Learn more about SS&C’s front-to-back solution for emerging hedge funds here.

About Zephyr Management
Zephyr Management is a global emerging markets investment manager specializing in the creation and management of highly-focused private equity funds. Since its inception in 1994, Zephyr has sponsored and/or managed 26 investment funds in both public and private securities markets, representing approximately $1.2 billion in combined commitments and assets under management.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about SS&C (NASDAQ: SSNC) is available at www.ssctech.com. Follow SS&C on Twitter, LinkedIn and Facebook.

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SOURCE SS&C

CONROE, Texas, Jan. 11, 2021 /PRNewswire/ — Spirit of Texas Bancshares, Inc. (NASDAQ: STXB) (“Spirit”), the holding company for Spirit of Texas Bank (the “Bank”), today announced that on January 8, 2021, the Bank completed the previously announced sale of its Jacksboro, Texas branch location to First State Bank (“FSB”) of Graham, Texas. Under the terms of the transaction, the Bank sold loans of approximately $3.5 million, deposits of approximately $5.7 million and the real property on which the branch was located.

Dean Bass, Spirit’s Chairman and Chief Executive Officer, stated, “We are pleased to have partnered with First State Bank, a bank that shares a similar mission to Spirit – consistently focusing on the well-being of the community. This common foundation and alignment of core values should make for a seamless transition and benefit the Jacksboro community, clients and employees.”

About Spirit of Texas Bancshares, Inc.

Spirit, through its wholly-owned subsidiary, Spirit of Texas Bank, provides a wide range of relationship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Spirit of Texas Bank has 38 locations in the Houston, Dallas/Fort Worth, Bryan/College Station, Austin, San Antonio, Corpus Christi and Tyler metropolitan areas, along with offices in North Central and South Texas. Please visit www.sotb.com for more information.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements anticipated in such statements. Forward-looking statements speak only as of the date they are made and, except as required by law, we do not assume any duty to update forward-looking statements. Such forward-looking statements include, but are not limited to, statements concerning such things as our plans, objectives, strategies, expectations and intentions and other statements that are not statements of historical fact, and may be identified by words such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “might,” “plan,” “probable,” “projects,” “seeks,” “should,” “target,” “view” or “would” or the negative of these words and phrases or similar words or phrases. Factors that could cause our actual results to differ materially from those described in the forward-looking statements include, among others: (i) changes in general business, industry or economic conditions, or competition; (ii) the impact of the COVID-19 pandemic on the Bank’s business, including the impact of actions taken by governmental and regulatory authorities in response to such pandemic, such as the Coronavirus Aid, Relief, and Economic Security Act and the programs established thereunder, and the Bank’s participation in such programs, (iii) changes in any applicable law, rule, regulation, policy, guideline, or practice governing or affecting bank holding companies and their subsidiaries or with respect to tax or accounting principles or otherwise; (iv) adverse changes or conditions in capital and financial markets; (v) changes in interest rates; (vi) the possibility that any of the anticipated benefits of the Jacksboro Branch Sale will not be realized or will not be realized within the expected time period; (vii) the risk that converting the operations of the Jacksboro Branch to First State Bank will be materially delayed or will be more difficult than expected; (viii) the inability to realize expected cost savings or achieve other anticipated benefits in connection with business combinations and other acquisitions; (ix) changes in the quality or composition of our loan and investment portfolios; (x) adequacy of loan loss reserves; (xi) loss of certain key officers; (xii) continued relationships with major customers; (xiii) deposit attrition; (xiv) rapidly changing technology; (xv) unanticipated regulatory or judicial proceedings and liabilities and other costs; (xvi) changes in the cost of funds, demand for loan products, or demand for financial services; (xvii) other economic, competitive, governmental, or technological factors affecting our operations, markets, products, services, and prices; and (xviii) our success at managing the foregoing items. For a discussion of additional factors that could cause our actual results to differ materially from those described in the forward-looking statements, please see the risk factors discussed in our most recent Annual Report on Form 10-K and other reports that are filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement.

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SOURCE Spirit of Texas Bancshares, Inc.

WOONSOCKET, R.I., Jan. 11, 2021 /PRNewswire/ — CVS Health (NYSE: CVS) today announced that Laurie Havanec will join the company as Executive Vice President and Chief People Officer, effective February 8, 2021. Havanec will succeed Lisa Bisaccia who is retiring after 16 years at the company.

“Laurie is an innovative leader who brings a wealth of experience partnering with executive teams to build strategic, people-focused human resources strategy,” said Karen S. Lynch, who will become President and CEO of CVS Health on February 1.  “Laurie will lead talent and culture initiatives that support our business strategy, and she will also play a central role in helping to inspire and engage all 300,000 employees across CVS Health.”

Havanec joins CVS Health with a distinguished career of over 20 years, most recently serving as Executive Vice President and Chief People Officer of Otis Worldwide Co., the world’s leading company for elevator and escalator maintenance, installation and service. She’s an experienced HR professional who has worked across all human resources functions including talent development, diversity, equity and inclusion, compensation and benefits, labor and employee relations, and HR systems, shared services and operations.

Before joining Otis, Havanec served as Corporate Vice President of Talent and HR at United Technologies Corporation (UTC) where together with her team, she transformed and modernized the company’s talent agenda and priorities. She championed technology and new ways of thinking to create industry-leading practices in engagement, recruitment and performance. Laurie was also a senior HR leader at Aetna.

“It’s been said that businesses don’t create value; people do. That’s why I’m honored to join CVS Health at such a critical time in the company’s history. In partnership with our business and HR leadership teams, I look forward to building and maintaining a corporate environment that enables us to achieve our vision to transform health care for consumers across the nation,” said Havanec.

Havanec will become a member of the company’s executive leadership team and report to Lynch. She has a BS in Marketing and a JD, both from the University of Connecticut. 

About CVS Health
CVS Health is a different kind of health care company. We are a diversified health services company with nearly 300,000 employees united around a common purpose of helping people on their path to better health. In an increasingly connected and digital world, we are meeting people wherever they are and changing health care to meet their needs. Built on a foundation of unmatched community presence, our diversified model engages one in three Americans each year. From our innovative new services at HealthHUB locations, to transformative programs that help manage chronic conditions, we are making health care more accessible, more affordable and simply better. Learn more about how we’re transforming health at www.cvshealth.com.

Media Contact:

Ethan Slavin

860-273-6095
[email protected] 

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SOURCE CVS Health

PITTSBURGH, Jan. 11, 2021 /PRNewswire/ — Federated Hermes Premier Municipal Income Fund (NYSE: FMN) has declared a dividend. The fund seeks to provide investors with current dividend income that is exempt from regular federal income tax. In addition, this fund features income exempt from the federal alternative minimum tax (AMT).

Investors can view additional portfolio information in the Products section of FederatedInvestors.com.

Federated Hermes, Inc. is a leading global investment manager with $614.8 billion in assets under management as of Sept. 30, 2020. Guided by our conviction that responsible investing is the best way to create wealth over the long term, our investment solutions span equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies. Providing world-class active investment management and engagement services to more than 11,000 institutions and intermediaries, our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/ dealers. Headquartered in Pittsburgh, Federated Hermes’ more than 1,900 employees include those in London, New York, Boston and several other offices worldwide. For more information, visit FederatedHermes.com.

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SOURCE Federated Hermes, Inc.

ZEPHYR COVE, Nev., Jan. 11, 2021 /PRNewswire/ — VirnetX™ Holding Corporation (US NYSE: VHC), an Internet security software and technology company, announced today that it has hired Darl McBride as Chief Operating Officer (COO) for its Japanese subsidiary, VirnetX KK, reporting to VirnetX CEO and President, Kendall Larsen.  McBride will further VirnetX’s technology licensing efforts in Japan including working with IP Dream, a Japanese based strategic technology distributor and service provider.

Previously, McBride headed up Novell’s dramatic growth in Japan by partnering with Masa Son, founder and CEO of Softbank and Kazuya Watanabe (former NEC PC President.) Together, they built a joint venture between Novell and Softbank that turned into a billion-dollar company and Novell’s largest profit center outside of the Americas.  McBride speaks fluent Japanese and has lived in Japan for 4 years. 

“Darl will be a great resource to achieving our licensing objectives in Japan,” said Kendall Larsen, VirnetX CEO and President.  “Darl knows the technological and cultural landscape of Japan as illustrated in his success with Novell.”

“I believe VirnetX’s asset rich technology is poised for explosive growth in Japan and other Asian markets,” said Darl McBride, VirnetX KK COO.  “I’m excited to join the VirnetX team to facilitate this growth in concert with IP Dream and other established Japanese relationships.”

Most recently, McBride was Founder and CEO of Shout, a global fan engagement company for sports and entertainment businesses that developing Apps to reach over 140 million fans worldwide. Prior to that he was President and CEO of software company SCO Group. He graduated Magna Cum Laude with a BA degree from Brigham Young University and has an MA in Industrial Relations from the University of Illinois at Urbana-Champaign where he was awarded a Merit Fellowship.

McBride has been featured by many media outlets including Fortune magazine, Wired, Wall Street Journal, Business Week, CNN, and CNBC. He has also been a keynote speaker at global events ranging from COMDEX in Las Vegas, Networld + Interop in Russia, Japan Government Technology Conference in Tokyo, DEMO new technology conference and at the Harvard/MIT Intellectual Property in the Digital Age Seminar.

About VirnetX

VirnetX Holding Corporation is an Internet security software and technology company with patented technology for secure communications including 4G LTE and 5G security. The Company’s software and technology solutions, including its secure domain name registry and Gabriel Connection Technology™, are designed to facilitate secure communications and to create a secure environment for real-time communication applications such as instant messaging, VoIP, smart phones, e-Readers and video conferencing. The Company’s patent portfolio includes over 190 U.S. and foreign granted patents/validations and pending applications. For more information, please visit http://www.virnetx.com/.

Forward-Looking Statements

Statements in this press release that are not statements of historical or current fact, including the statement regarding VirnetX’s (the “Company”) licensing efforts and its proposed expansion in Japan and Asia, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements are based on expectations, estimates and projections, and certain assumptions made by management and involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements, including but not limited to,  including but not limited to (1) the outcome of any legal proceedings that have been or may be initiated by the Company  or that may be initiated against the Company, including pending and future inter partes review proceedings in the Patent and Trademark Office and appeals therefrom; (2) the ability to capitalize on patent portfolio and generate licensing fees and revenues; (3) the ability of the Company to be successful in entering into licensing relationships with its targeted customers on commercially acceptable terms, including in Japan; (4) potential challenges to the validity of the Company’s patents underlying its licensing opportunities; (5) the ability of the Company to achieve widespread customer adoption of the Company’s Gabriel Communication Technology™ and its secure domain name registry; (6) the level of adoption of the 3GPP Series 33 security specifications; (7) whether or not the Company’s patents or patent applications may be determined to be or become essential to any standards or specifications in the 3GPP LTE, SAE project or otherwise; (8) the extent to which specifications relating to any of the Company’s patents or patent applications may be adopted as a final standard, if at all; and (9) the possibility that Company may be adversely affected by other economic, business, and/or competitive factors.    The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s reports and registration statements filed with the Securities and Exchange Commission, including those under the heading “Risk Factors” in the Company’s Annual Report on Form 10-Q filed on November 6, 2020 and subsequent filings with the Securities and Exchange Commission, as applicable. Many of the factors that will determine the outcome of the subject matter of this press release are beyond the Company’s ability to control or predict.  Except as required by law, the Company is under no duty to update any of the forward-looking statements after the date of this press release to conform to actual results.

Contact:

Investor Relations
VirnetX Holding Corporation
415.505.0456
[email protected]

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SOURCE VirnetX Holding Corporation

COLUMBUS, Ohio, Jan. 11, 2021 /PRNewswire/ — CF Bankshares Inc. (NASDAQ: CFBK) (the “Company”), the parent of CFBank, today announced that the Board of Directors of the Company declared a quarterly cash dividend on its common stock of $0.03 per share payable on February 1, 2021, to shareholders of record as of the close of business on January 21, 2021.

About CF Bankshares Inc. and CFBank

CF Bankshares Inc. is the holding company for CFBank, N.A. a national bank formed in Ohio in 1892.  CFBank has a presence in four major Metro Ohio Markets – Columbus, Cleveland, Cincinnati and Akron markets, as well as its two locations in Columbiana County, Ohio.  CFBank provides personalized business banking products and services including commercial loans and leases, commercial and residential real estate loans and treasury management depository services.  In addition, CFBank also has a national residential lending platform.  Our products and services are particularly focused on serving the banking and financing needs of closely held businesses and our business model emphasizes personalized service, customer access to decision makers, quick execution, and the convenience of online internet banking, mobile banking, remote deposit and corporate treasury management. Additional information about CF Bankshares Inc. and CFBank is available at www.CFBankOnline.com.

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SOURCE CF Bankshares Inc.

PLANO, Texas, Jan. 11, 2021 /PRNewswire/ — Dogness International Corporation (“Dogness” or the “Company”) (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced it experienced strong 2020 holiday sales and expects continued demand in 2021. 

The Company noted its sleek, easy to use smart pet fountains were a big hit in the recently ended 2020 holiday season, with high demand for all three smart filtering fountains, including the Smart Fountain Mini (1L), Smart Fountain (2L) and Smart Fountain Plus (3.2L). Other top selling products included Dogness’ pet-tech and smart pet products, including its connected and programmable feeders, monitors and treaters.

Silong Chen, Chairman and Chief Executive Officer of Dogness, commented, “We are benefitting from our team’s tireless efforts to expand already close relationships with key online, warehouse and retail partners, as we bring our sought after product lines to an even larger customer audience. This extends from our high-quality, durable line of retractable pet leashes all the way up to our pet-tech and smart pet product lines. Investments we made in our infrastructure and sales team are already paying off, which we fully expect will continue to gain momentum through 2021.  We believe our focus on product innovation and quality is the right business strategy as we focus on revenue growth and increased profitability.”

“We saw higher demand, along with the broader pet industry, related to the pandemic as people turned to pet ownership to help ease anxiety levels and to break the monotony of being shut-in for so long.  We think this increased ownership is a good thing as more people realize the joy and satisfaction of pet ownership. If this trend continues, we could see sales in the January to June 2021 period equalling or exceeding the recent July to December 2020 holiday period. Longer-term we remain very optimistic based on our growth strategy, market position and growth expectations from our customers.”

About Dogness

Dogness (International) Corporation was founded in 2003 from the belief that pet dogs and cats are important, well-loved family members. Through its smart products, hygiene products, health and wellness products, and leash products, Dogness is able to simplify pet lifestyles, make them more scientific, and enhance the relationship between pets and pet caregivers. The Company ensures industry-leading quality through its fully integrated vertical supply chain and world-class research and development capabilities, which has resulted in over 200 patents and patents pending. Dogness products reach families worldwide through global chain stores and distributors. For more information, please visit: ir.dogness.com.

Forward Looking Statements

No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the “safe harbor” under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customers’ businesses and end purchasers’ disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China and the U.S., our ability to attract and retain highly skilled professionals, client concentration, industry segment concentration, reduced demand for technology in our key focus areas, our ability to successfully complete and integrate potential acquisitions, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Dogness may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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SOURCE Dogness International Corporation