Market Newsdesk

IRVINE, Calif., Nov. 12, 2020 /PRNewswire/ — Interlink Electronics, Inc. (OTC: LINK), a world-leading trusted advisor and technology partner in the advancing world of human-machine interface (HMI) and force-sensing technologies, today announced its financial results for the three and nine months ended September 30, 2020. GAAP net income for the quarter was $65 thousand (or $0.01 per share), reflecting a decrease from GAAP net income of $111 thousand (or $0.02 per share) for the prior year period.  

Consolidated Financial Highlights

(Amounts in thousands except per share data and percentages)

• Revenue in the third quarter of 2020 decreased approximately 28% to $1.5 million from $2.1 million in the same year-ago period, primarily due to lower demand caused by the COVID-19 pandemic.
• Gross margin increased to 52.4% from 50.1% due to product mix and operational efficiencies.
• Income (loss) from operations was a loss of ($79) thousand for the third quarter of 2020, compared with income of $203 thousand in the same period in 2019. Operating income (loss) was impacted by lower gross profit and nearly flat operating expenses.
• In the third quarter of 2020, after-tax net income was $65 thousand or $0.01 per basic and diluted share, compared to after-tax net income of $111 thousand or $0.02 per basic and diluted share in the same year-ago period.
• The company ended the period with $6.1 million in cash and cash equivalents.

“We continue to position our business for future growth by increasing our investment in sales & marketing and recruiting senior technical resources in conjunction with the build-out of our R&D center in our existing Camarillo footprint. We expect to launch the world-class design lab in the first quarter of 2021,” said Steven N. Bronson, CEO of Interlink Electronics, Inc.

Mr. Bronson also commented, “We are also moving forward with our efforts to list our common stock for trading on the NASDAQ Capital Market during the first quarter of 2021, having recently filed our application with NASDAQ to begin the process. A successful uplisting will play a role in our strategy to actively pursue acquisitions in 2021.”

About Interlink Electronics, Inc. 

Interlink Electronics is a world-leading trusted provider of HMI, sensor, and IoT solutions. In addition to standard product offerings, Interlink utilizes its expertise in materials science, manufacturing, firmware, and software to produce in-house system solutions for custom applications. For 35 years, Interlink has led the printed electronics industry in the commercialization of its patented Force Sensing Resistor^® technology and has supplied some of the world’s top electronics manufacturers with intuitive sensor and interface technologies like the VersaPad and the new VersaPad Plus, which boasts the largest active surface area of any resistive touchpad. It also has a proven track record of supplying technological solutions for mission-critical applications in a diverse range of markets—including medical, automotive, consumer electronics, telecommunications, and industrial control—providing standard and custom-designed sensors that give engineers the flexibility and functionally they seek in today’s sophisticated electronic devices. Interlink serves an international customer base from its headquarters in Irvine, Calif., and pending world-class materials science lab and R&D center in Camarillo, Calif. They are supported by strategic global locations covering manufacturing, distribution, and sales support. For more information, please visit InterlinkElectronics.com.

Forward Looking Statements 

This release contains forward-looking statements. Forward-looking statements include, but are not limited to, the timing for launch of our R&D center, plans to list our shares on NASDAQ and our intention to pursue acquisitions in 2021, and are generally identified by phrases such as “thinks,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, management, including management’s own knowledge and assessment of the Company’s industry, R&D initiatives, competition and capital requirements. Other factors and uncertainties that could affect the Company’s forward-looking statements include, among other things, the following: our ability to meet NASDAQ’s initial listing requirements; our ability to identify suitable acquisitions candidates on acceptable terms; our success in predicting new markets and the acceptance of our new products; efficient management of our infrastructure; the pace of technological developments and industry standards evolution and their effect on our target product and market choices; the effect of outsourcing technology development; changes in the ordering patterns of our customers; a decrease in the quality and/or reliability of our products; protection of our proprietary intellectual property; competition by alternative sophisticated as well as generic products; continued availability of raw materials for our products at competitive prices; disruptions in our manufacturing facilities; risks of international sales and operations including fluctuations in exchange rates; compliance with regulatory requirements applicable to our manufacturing operations; and customer concentrations. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Annual Report (Form 10-K) or Quarterly Report (Form 10-Q) filed with the Securities and Exchange Commission.  Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

View original content:http://www.prnewswire.com/news-releases/interlink-electronics-reports-third-quarter-2020-results-301172394.html

SOURCE Interlink Electronics, Inc.

VANCOUVER, B.C., Nov. 12, 2020 /PRNewswire/ — GreenPower Motor Company Inc. (Nasdaq:GP) (TSXV:GPV) (“GreenPower”), a leading manufacturer and distributor of zero emission electric powered vehicles serving the cargo and delivery, shuttle, transit and school bus markets, today announced financial results for its fiscal second quarter ended September 30, 2020.

“With cash in the bank from our equity raise and uplisting to Nasdaq we’ve launched a multi-faceted effort to increase production and pursue relationships that can drive repeat orders,” said Fraser Atkinson, CEO of GreenPower. “Historically we’ve produced vehicles for sales from specific customer orders.  Now we can accelerate production, shorten timelines for deliveries, improve cost and terms from suppliers to support larger purchase orders which will be the drivers for GreenPower to attain profitability.”

Highlights of the second quarter:

• Completed the Company’s uplisting to the Nasdaq stock exchange under the symbol “GP” and raised gross proceeds of $37.7 million before underwriting fees and expenses;
• Reported revenue of $2.8 million generating a gross profit of 31.2% of revenue;
• Cash expenditures of $1.7 million before sales in line with prior four quarters;
• Completed and delivered a total of 21 buses, including 20 EV Stars to Green Commuter, and one all-electric school bus to Creative Bus Sales;
• Received orders for 100 EV Stars and 10 all-electric BEAST school buses;
• Increased production of EV Stars to 20 per month, expected to start delivering in two quarters, representing potential quarterly revenue of over $8million;
• Initiated production of 5 B.E.A.S.T school buses per month, expected to start delivering in mid-2021, represents potential quarterly sales of over $5 million;
• The EV Star was selected as an eligible vehicle for the MBTA and Calact purchasing co-operative contract, which covers the purchase of up to 150 zero-emission vehicles per year;
• Entered into a dealership agreement with ABC Bus, Inc. covering the state of New York providing for the purchase of up to 100 vehicles over three years;
• Announced the launch of the EV Star CC “Cab and Chassis” for cargo and delivery market;
• Completed the first EV Star Cargo+ vehicle to serve the cargo and delivery market;
• Progressed production of various models, including EV Stars, EV Star cab and chassis, EV Star+, BEAST school buses, and EV 250 thirty-foot low floor transit buses;
• Continued the development of an autonomous EV Star with Perrone Robotics for Jacksonville Transit Authority;
• Conducted demonstrations of a range of Greenpower vehicles to potential customers across several US states, laying the groundwork for potential future sales;
• Continued to effectively manage our business operations to navigate impacts from the COVID-19 pandemic.

Brendan Riley, President of GreenPower commented, “The quarter was a very active time for our sales force performing in person demonstrations while we expand our production capabilities and supply chain.  Despite the challenges of a pandemic backdrop, there is undoubtedly a sense of commitment at both the end user and OEM level to accelerate the transition to EV and we are ideally positioned to satisfy both.  We have the purpose built EV platform customers want, now we also have the balance sheet to support it.”

Results for the three months ended September 30, 2020

For the three-month period ended September 30, 2020 the Company recorded revenues of $2,835,411 and cost of revenues of $1,951,692 generating a gross profit of $883,719 or 31.2% of revenues. Revenue was generated from the delivery of 20 EV Stars for which the Company provided lease financing, from the sale of one all-electric school bus, from the sale of parts, and other sources. Operating costs  consisted  of  administrative  fees of $860,243; transportation costs of $26,755; travel, accommodation, meals and entertainment costs of $68,008; product development costs of $235,699; sales and marketing costs of $62,574; professional fees of $61,650; and office expense of $149,589, as well as non-cash expenses including $117,737 of share-based compensation expense and depreciation of $117,471, generating a loss from operations before interest, accretion and foreign exchange of $836,391. Interest and accretion on the line of credit, convertible debentures and promissory notes totalled $505,589, and a foreign exchange loss of $144,179 resulted in a loss for the period of $1,486,160

Non-cash expenses consisting of depreciation, accretion and accrued interest, share-based compensation, warranty accrual and amortization of deferred financing fees totaled $667,415 in the three-month period resulting in total cash expenses of $1,702,463

Results for the six months ended September 30, 2020

For the six-month period ended September 30, 2020 the Company recorded revenues of $5,107,666 and cost of revenues of $3,605,364 generating a gross profit of $1,502,302 or 29.4% of revenues. Revenue was generated from the sale of 38 EV Stars for which the Company provided lease financing, from the sale of one all-electric school bus, from the sale of parts, and other sources. Operating costs  consisted  of  administrative  fees  of $1,718,173; transportation costs of $53,496; travel, accommodation, meals and entertainment costs of $104,861; product development costs of $456,808; sales and marketing costs of $53,044; professional fees of $158,076; and office expense of $200,548, as well as non-cash expenses including $249,769 of share-based compensation expense and depreciation of $232,232, generating a loss from operations before interest, accretion and foreign exchange of $1,711,536. Interest and accretion on the line of credit, convertible debentures and promissory notes totalled $1,060,908, and a foreign exchange loss of $143,053 resulted in a loss for the period of $2,915,497.

About GreenPower Motor Company Inc.

GreenPower designs, builds and distributes a full suite of high-floor and low-floor vehicles, including transit buses, school buses, shuttles, a cargo van and a double decker.  GreenPower employs a clean-sheet design to manufacture all-electric buses that are purpose built to be battery powered with zero emissions.  GreenPower integrates global suppliers for key components, such as Siemens or TM4 for the drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. For further information go to www.greenpowerbus.com.

Forward-Looking Statements

This document contains forward-looking statements relating to, among other things, GreenPower’s business and operations and the environment in which it operates, which are based on GreenPower’s operations, estimates, forecasts and projections. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “upon”, “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond GreenPower’s control. A number of important factors including those set forth in other public filings (filed under the Company’s profile on www.sedar.com) could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they are made. GreenPower disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All amounts in U.S. dollars.© 2020 GreenPower Motor Company Inc. All rights reserved.

View original content:http://www.prnewswire.com/news-releases/greenpower-reports-fiscal-second-quarter-2021-financial-results-301172362.html

SOURCE GreenPower Motor Company

HAMILTON, Bermuda, Nov. 12, 2020 /PRNewswire/ — Höegh LNG Partners LP’s (NYSE: HMLP) third quarter 2020 results will be released on Thursday, November 19, 2020, before the market opens. In connection with this, a presentation will be held at 8:30 A.M. (EST) on Thursday, November 19, 2020. The results and presentation material will be available for download at http://www.hoeghlngpartners.com.

The presentation will be immediately followed by a Q&A session. Participants will be able to join this presentation using the following details:

a. Webcast 

https://www.webcaster4.com/Webcast/Page/942/38684

b. Teleconference 

Participants should ask to be joined into the Höegh LNG Partners LP call.

There will be a Q&A session after the presentation. Information on how to ask questions will be given at the beginning of the Q&A session. 

For those unable to participate in the conference call, a replay will be available from one hour after the end of the conference call until November 26, 2020.

The replay dial-in numbers are as follows:

Replay passcode: 10149871

About Höegh LNG Partners LP
Höegh LNG Partners LP is a growth-oriented limited partnership formed by Höegh LNG Holdings Ltd. (Oslo Børs ticker: HLNG), a leading floating LNG service provider. HMLP’s strategy is to own, operate and acquire floating storage and regasification units (“FSRUs”) and associated LNG infrastructure assets under long-term charters. It has interests in five FSRUs that have an industry leading average remaining firm contract duration of 8.7 years plus options as of September 30, 2020.

Media Contact: 
The IGB Group, Bryan Degnan, +1 (646) 673-9701 / Leon Berman, +1 (212) 477-8438
Knut Johan Arnholdt, VP IR and Strategy, +47 922 59 131

View original content:http://www.prnewswire.com/news-releases/hoegh-lng-partners-lp—invitation-to-presentation-of-third-quarter-2020-results-301172319.html

SOURCE Hoegh LNG Partners LP

FARMINGTON, Conn., Nov. 12, 2020 /PRNewswire/ — Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, announced today it has provided a $25 million venture loan facility to Getaround, Inc. (“Getaround”).

Getaround provides a peer-to-peer car sharing platform where individuals can share their car by the day or the hour, tapping into the 22+ hours per day most cars sit idle and disrupting the $100 billion global rental and mobility markets.  Getaround has become a recognized leader in car sharing, growing its presence to over 300 U.S. and European cities, and is backed by premier tech investors including Reinvent Capital, PeopleFund, Softbank Vision Fund, Menlo Ventures and Braemar Energy Ventures. Getaround will use the loan proceeds for general working capital purposes.

“Getaround is changing the way people think about renting and sharing cars through their seamless and easy-to-use technology platform,” said Gerald A. Michaud, President of Horizon. “They have done an excellent job adapting to the current challenging environment and their innovative technology leaves them poised to embark on their next phase of growth. We are excited to support Getaround as they progress toward becoming a global leader in mobility.” 

“We are very appreciative of Horizon’s support and confidence in Getaround being the future of mobility,” said Sam Zaid, Founder and Chief Executive Officer at Getaround. “Our pioneering contactless solution enables people across the globe to carshare safely during the pandemic. Horizon’s investment will help us further accelerate our growth.”

Armentum Partners served as financial advisor to Getaround in connection with this financing.

About Horizon Technology Finance

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries. The investment objective of Horizon is to maximize its investment portfolio’s return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. Headquartered in Farmington, Connecticut, Horizon also has regional offices in Pleasanton, California and Reston, Virginia. To learn more, please visit www.horizontechfinance.com. 

About Getaround, Inc.

Getaround empowers people to instantly access and drive great cars shared by people in their city. Cars can be rented by the hour, or the day, with insurance included. By using the Getaround app, people skip the lines and paperwork at traditional rental car counters, and the hassle of buying and maintaining a car.

Powered by Getaround ConnectⓇ, the proprietary connected car technology, Getaround creates a fun and safe carsharing experience without the need to meet the car owner, carry an access card, or coordinate picking up a car key. People share everything from a Prius to a Tesla and earn up to thousands in extra income each year, offsetting the high cost of car ownership while also making a positive impact on the environment.

Headquartered in San Francisco, Getaround is the world’s largest connected carsharing marketplace with thousands of cars available in over 300 cities across the U.S. and Europe. For more information visit Getaround.com, download the iPhone or Android app, like on Facebook, and follow on Instagram and Twitter.

Forward-Looking Statements

Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition 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 the Company’s filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contacts:

Investor Relations:
ICR
Garrett Edson
[email protected]
(860) 284-6450

Media Relations:
ICR
Chris Gillick
[email protected]    
(646) 677-1819

View original content:http://www.prnewswire.com/news-releases/horizon-technology-finance-provides-25-million-venture-loan-facility-to-getaround-301172251.html

SOURCE Horizon Technology Finance Corporation

CHARLOTTE, N.C., Nov. 12, 2020 /PRNewswire/ — Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that its site in Kings Mountain, N.C., was recently recognized by the Wildlife Habitat Council (WHC) for its excellence in corporate conservation in the Pollinator Project category at the 2020 WHC Awards. This recognition demonstrates the company’s continued commitment to environmental stewardship.

Albemarle’s Pollinator Project Award follows the official WHC certification of the company’s Kings Mountain pollinator garden earlier in the year. This award was received virtually at the 2020 WHC Awards held in early October. The WHC Awards honor excellence in corporate conservation across national and international companies spanning a variety of industry sectors.

“We are thrilled to receive recognition from WHC for the continued care and focus that our team at Kings Mountain dedicates to a critically important environmental effort,” said John Kuhn, Albemarle Environmental Manager. “This award from WHC represents our positive results from the pollinator garden and our commitment to Albemarle’s sustainability goals for the communities in which we work and live.”

The nearly 2,000 square-foot pollinator garden is situated atop a rock pile Albemarle reclaimed from previous lithium mining and is located within the 5-mile long Kings Mountain Gateway Trail. The garden provides an enhanced habitat for pollinators, particularly the monarch butterfly which has recently seen a species decline. Albemarle planted a variety of pollinator-friendly vegetation and monitors the garden’s progress. This is Albemarle’s first project to receive an annual WHC Award.

About Albemarle
Albemarle Corporation (NYSE: ALB), headquartered in Charlotte, N.C., is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts. We think beyond business-as-usual to power the potential of companies in many of the world’s largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.

We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.

View original content to download multimedia:http://www.prnewswire.com/news-releases/albemarle-corporation-recognized-by-wildlife-habitat-council-for-excellence-in-corporate-conservation-at-kings-mountain-site-301172341.html

SOURCE Albemarle Corporation

LAS VEGAS, Nov. 12, 2020 /PRNewswire/ — AutoNation, Inc. (NYSE: AN), AutoNation, America’s largest and most recognized automotive retailer, today announced that it is launching the inaugural “Twelve Cars of Christmas” DRV PNK Holiday Parade to provide a memorable holiday to families with children who are battling cancer and other serious illnesses.  The event is in partnership with Tyler Robinson Foundation (TRF), the nonprofit organization of the GRAMMY Award-winning band Imagine Dragons dedicated to supporting children battling childhood cancer, and Nevada Childhood Cancer Foundation which offers 40+ services to diagnosed children and their families.

AutoNation has a long track record of supporting communities, most notably through its DRV PNK Mission which has raised almost  $26 Million to help drive out cancer.      

According to Louise Evans, General Manager of VW AutoNation in Las Vegas, “When a child is diagnosed with cancer, the whole family is affected. Holding a pink parade is the perfect way to deliver joy to families in a safe way.  Each of the 12 vehicles in the parade will have something special for each of the families.”   

AutoNation’s Las Vegas Market President Matt Brown added, “We challenged all our local stores to join in and they jumped at the opportunity. Starting on November 9, each AutoNation store will display their decorated parade vehicle.  We invite the public to stop by any of our stores to check out the display and drop off unwrapped toys.” 

According to Kim Gradisher, Executive Director of Tyler Robinson Foundation, “This holiday season, there are more families facing hardships than ever before.  We are so grateful to outstanding community partners like AutoNation who are giving so much to bring joy and smiles to our families.”

Drop off an unwrapped toy or gift card at any AutoNation store in Las Vegas from November 9 through December 22.

About AutoNation, Inc.



AutoNation, America’s largest and most recognized automotive retailer, is transforming the automotive industry through its bold leadership, innovation, and comprehensive brand extensions. As of September 30, 2020, AutoNation owned and operated over 325 locations from coast to coast. AutoNation has sold over 12 million vehicles, the first automotive retailer to reach this milestone. AutoNation’s success is driven by a commitment to delivering a peerless experience through customer-focused sales and service processes. Since 2013, AutoNation has raised $25 million to drive out cancer, create awareness, and support critical research through its DRIVE PINK initiative, which was officially branded in 2015.

Please visit www.autonation.com, investors.autonation.com, www.twitter.com/CEOMikeJackson, and www.twitter.com/AutoNation, where AutoNation discloses additional information about the Company, its business, and its results of operations. Please also visit www.autonationdrive.com, AutoNation’s automotive blog, for information regarding the AutoNation community, the automotive industry, and current automotive news and trends.

About the Nevada Childhood Cancer Foundation:

Nevada Childhood Cancer Foundation is a non-profit organization established in 1993, which offers over 40 programs and services including a variety of educational services, financial support and counseling for critically ill children and their families living in Southern Nevada. The foundation’s mission is to work side by side with the medical community to provide social, emotional, educational, financial and psychological support services and programs to families of ALL children diagnosed with a life threatening or critical illness such as cancer, HIV/AIDS, sickle cell, renal disorders, blood and immunologic diseases as well as to adults touched by cancer. In 2011, NVCCF incorporated The Caring Place into its programming which provides emotional, financial, and healing arts therapies for adults diagnosed with cancer. Contact the Nevada Childhood Cancer Foundation at 702.735.8434 or visit them at www.nvccf.org.

View original content to download multimedia:http://www.prnewswire.com/news-releases/autonation-partners-with-tyler-robinson-foundation-and-nevada-childhood-cancer-foundation-to-bring-joy-to-families-touched-by-cancer-301172255.html

SOURCE AutoNation, Inc.