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VIAVI Unveils All-in-One Fiber Certification Tool for FTTx

VIAVI Optimeter enables last mile fiber deployment to be completed with confidence

PR Newswire

SAN JOSE, Calif., Dec. 1, 2020 /PRNewswire/ — Viavi Solutions Inc. (VIAVI) (NASDAQ: VIAV) today introduced the VIAVI Optimeter, a new type of network test tool to speed and simplify last mile optical fiber activation and maintenance. As the leading fiber test and measurement supplier, VIAVI is focused on helping communications service providers (CSPs) and contractors improve first time install completion rates for faster service activation and revenue.

It’s estimated that 250,000 technicians will be tasked with new fiber installation and maintenance duties over the next three years in order to keep up with the demand for broadband deployments worldwide. This rapid growth is driving the need for fiber certification tools that are extremely easy to use to ensure successful service turn-up on the first truck roll, thereby avoiding activation delays, increased churn and excessive installation costs.

The versatile VIAVI Optimeter combines the functionality of a broadband or GPON/XG(S)-PON power meter with fiber certification and connector inspection in a simple, all-in-one solution for effortless FTTx certification and troubleshooting — regardless of field technicians’ experience level. The Optimeter was designed to reduce truck rolls and trouble tickets by proving successful fiber install passes, or providing clear fault ownership information to stop unnecessary handoffs.

“Pressure to meet demand for new PON/FTTH service often leads to minimal testing or even no testing. As a result, technicians are not able to complete install and activation on the first visit between 20 to 50% of the time, leading to poor customer experiences and lost revenue,” said Kevin Oliver, Vice President and General Manager, Converged Instruments and Virtual Test, VIAVI. “As service activation failure rates and maintenance costs continue to rise, the VIAVI Optimeter is a critical tool for premise and home techs to make sure that last mile fiber installation is done right the first time, improving deployment success rates and reducing the need for return visits.”

About VIAVI
VIAVI (NASDAQ: VIAV) is a global provider of network test, monitoring and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. We help these customers harness the power of instruments, automation, intelligence and virtualization to Command the network. VIAVI is also a leader in light management solutions for 3D sensing, anti-counterfeiting, consumer electronics, industrial, automotive, and defense applications. Learn more about VIAVI at www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn, Twitter, YouTube and Facebook.

Media Inquiries:


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Sonus PR

Micah Warren


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Latin America

Edelman Significa

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monica.czeszak@edelmansi
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Riba:BusinessTalk

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EMEA & Asia Pacific/Japan

Sonus PR

Chevaan Seresinhe


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India

Voila Communications

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China

Archetype

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SOURCE VIAVI Solutions

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Boston Scientific Signs Definitive Agreement to Divest BTG Specialty Pharmaceuticals Business

PR Newswire

MARLBOROUGH, Mass., Dec. 1, 2020 /PRNewswire/ — Boston Scientific Corporation (NYSE: BSX) today announced that it has entered into a definitive agreement with Stark International Lux S.A.R.L., and SERB SAS, affiliates of SERB, a European specialty pharmaceutical group, to sell its BTG Specialty Pharmaceuticals business for $800 million in cash. SERB, backed by private equity firm Charterhouse Capital Partners since 2017, owns a diversified portfolio of prescription medicines focused on rare and life-threatening diseases.

“This transaction will help the BTG Specialty Pharmaceuticals business enhance its potential as a fully integrated specialty pharmaceuticals platform,” said Anthony Higham, president, BTG, Specialty Pharmaceuticals. “We believe our capabilities and portfolio strongly complement those of SERB, and we look forward to this next chapter as we continue to positively impact the lives of patients and the people who care for them.”

The BTG Specialty Pharmaceuticals business develops, manufactures and commercializes life-saving antidotes used in hospitals and emergency care settings, including the clinically proven and leading products CroFab®, DigiFab®, and Voraxaze®. The three franchises are expected to generate approximately $210 million in revenue for the full year 2020.

“After acquiring BTG in 2019 for approximately $3.7 billion net of cash on hand, and following the close of this transaction, we will have divested the two BTG non-medical device portions – Pharmaceutical Licensing royalties in the fourth quarter of 2019 and Specialty Pharmaceuticals announced today – for more than $1.0 billion in net proceeds,” said Jeff Mirviss, executive vice president and president, Peripheral Interventions, Boston Scientific. “We continue to be very pleased with the performance of the core Interventional Medicines business, the primary driver of the BTG acquisition, which has delivered strong growth and is expected to exceed our original goal of $175 million in synergies.”

The agreement includes the transfer of five facilities and approximately 280 employees globally. The transaction is expected to close in the first half of 2021, subject to customary regulatory approvals and other closing conditions.

About Boston Scientific
Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for 40 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare. For more information, visit www.bostonscientific.com and connect on Twitter and Facebook.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Forward-looking statements may be identified by words like “anticipate,” “expect,” “project,” “believe,” “plan,” “estimate,” “intend” and similar words.  These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance.  These forward-looking statements include, among other things, statements regarding the divestiture, our business plans and product performance and impact.  If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements.  These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release.  As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. 

Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; financial market conditions; and future business decisions made by us and our competitors.  All of these factors are difficult or impossible to predict accurately and many of them are beyond our control.  For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter.  We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.  This cautionary statement is applicable to all forward-looking statements contained in this document.

CONTACTS:
Kate Haranis
Media Relations
508-683-6585 (office)
[email protected]

Susie Lisa, CFA
Investor Relations
(508) 683-5565 (office)
[email protected]

 

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SOURCE Boston Scientific Corporation

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Swinton Group Boosts Net Promoter Score by 11 Percent with NICE Attended Automation

Swinton Group Boosts Net Promoter Score by 11 Percent with NICE Attended Automation

NICE’s Attended Automation solution enables Swinton to redefine processes, improving customer experiences, workforce engagement and efficiency

HOBOKEN, N.J.–(BUSINESS WIRE)–NICE (Nasdaq: NICE) today announced that Swinton Group has transformed customer service and improved both customer and employee experiences by leveraging NICE’s Attended Automation solution. A UK-based insurance retailer with a network of branches across the country, Swinton Group redefined customer service workflows to ensure employees had the right data at the opportune time and next-step guidance at their fingertips with NICE’s Attended Automation solution. As a result, Swinton benefitted from improved customer experiences and efficiency improvements including an 11 percent increase in net promoter score (NPS), an average reduction of 50 seconds in handling time (AHT), and an increase in capacity of over 7,700 calls per month.

John Mackey, RPA Manager, Swinton Group, said, “With NICE’s Attended Automation solution we empowered employees with the data and tools needed to deliver unparalleled experiences. The results were impressive and evident from the customer, colleague and financial perspectives. We look forward to continuing setting the industry standard for exceptional customer service and believe automation will play a pivotal role in our efforts.”

Swinton initiated a large-scale transformation project focused on ensuring that contact center teams are both high-performance and engaged. They realized the importance of improving, simplifying and automating processes to the project’s success. Adopting a robotic process automation strategy, Swinton chose NICE for its advanced attended automation capabilities. The development team then began working in close collaboration with the frontline staff to identify needs, gather ideas, promote attended automation workflows and embed training, resulting in the internal launch of highly customized workflows and processes.

With NICE-driven Attended Automation in place, contact center agents have the right information at the right time along with the customer’s full journey data. This reduced hold and wrap time helps to shorten calls by over 50 seconds each on average. New business sales calls were shortened by almost 3 minutes. As a direct result of deploying NICE, Swinton saw an increase in capacity, with their contact center now able to handle an extra 7,780 calls per month. Swinton also experienced increased employee engagement and positive feedback after implementing the NICE APA-driven program. Customers also provided positive feedback, in the form of an increase of 11 percent in NPS (from 32 to 43). These improvements were clearly linked to agents having the right data and next-best-action guidance at their fingertips, as they were able to focus more on the quality of their interactions, rather than on procedural issues and finding basic customer information.

John O’Hara, President of NICE EMEA, said,“Swinton Group leads the way in ensuring exceptional employee and customer experiences. By redefining its operational processes and workflows with Attended Automation Swinton rewired its contact center to power more effective and efficient customer service while engaging the agents that provide it. The results are evident not only in their increased NPS score but also by the positive feedback they’re receiving from the Financial Conduct Authority (FCA) on this project.”

About NICE

NICE (Nasdaq: NICE) is the world’s leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com.

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. O’Hara, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners;, cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Corporate Media Contact

Christopher Irwin-Dudek, 201 561 4442, ET, [email protected]

Investors

Marty Cohen, +1 551 256 5354, ET, [email protected]

Yisca Erez +972 9 775 3798, CET, [email protected]

KEYWORDS: New Jersey United States North America

INDUSTRY KEYWORDS: Networks Internet Data Management Technology Software

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Christopher & Banks Corporation Announces Third Quarter 2020 Earnings Conference Call

Christopher & Banks Corporation Announces Third Quarter 2020 Earnings Conference Call

MINNEAPOLIS–(BUSINESS WIRE)–
Christopher & Banks Corporation (OTC: CBKC) today announced that its financial results for the third quarter fiscal year 2020 will be released before the market opens on Thursday, December 10, 2020. The Company will host a conference call at 8:30 a.m. Eastern Time to discuss its financial results.

Investors and analysts interested in joining the call are invited to dial (877) 705-6003 or (201) 493-6725 if calling internationally. Please dial in approximately 10 minutes prior to the start of the call. A live webcast of the conference call will be available in the investor relations section of the Company’s website, www.christopherandbanks.com. A replay of the webcast will also be available following the conference call on the Company’s website for 30 days.

In addition, a replay of the call will be available shortly after the completion of the conference call through December 17, 2020. To access the telephone replay, listeners should dial 1-844-512-2921. The access code for the replay is: 13713503.

About Christopher & Banks

Christopher & Banks Corporation is a Minneapolis-based specialty retailer featuring exclusively designed privately branded women’s apparel and accessories. As of December 1, 2020, the Company operates 450 stores in 44 states consisting of 315 MPW stores, 76 Outlet stores, 31 Christopher & Banks stores, and 28 stores in its women’s plus size clothing division CJ Banks. The Company also operates the www.ChristopherandBanks.com eCommerce website.

COMPANY CONTACT:

Richard Bundy

Senior Vice President, Chief Financial Officer

(763) 551-5000

INVESTOR RELATIONS CONTACT:

Jean Fontana

ICR, Inc.

(646) 277-1214

KEYWORDS: Minnesota United States North America

INDUSTRY KEYWORDS: Other Consumer Women Department Stores Other Retail Specialty Fashion Consumer Retail Online Retail

MEDIA:

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Kaman Expands Composite Repair to the Aftermarket Through Partnership With C&L Aerospace

Kaman Expands Composite Repair to the Aftermarket Through Partnership With C&L Aerospace

BLOOMFIELD, Conn.–(BUSINESS WIRE)–
Kaman Composites – Wichita, Inc., an indirect subsidiary of Kaman Corporation (NYSE:KAMN), announced today the expansion of its composite repair services to the business jet aftermarket with industry leading MRO provider and distributor, C&L Aerospace, a C&L Aviation Group Company of Bangor, Maine. Kaman Composites named C&L Aerospace its exclusive distributor for composite structural repairs out of its FAA Part 145 Repair Station in Wichita, Kansas.

“Historically, Kaman Composites has provided structural repair exclusively for military programs,” explained Malissa Nesmith, Senior Director of Business Development for Kaman Composites. “However, this collaboration with C&L expands our repair services into the business aviation aftermarket, which we are looking forward to supporting.”

Kaman Composites and C&L Aerospace will be offering structural repairs for a variety of business jet platforms, including Textron and Bombardier platforms. Last year, Kaman Composites formed the Radome Center of Excellence, which provides not only radome production, but also design and engineering services. Radome repair will be one of the capabilities offered through C&L Aerospace.

“We are excited to collaborate on this program with a well-respected aviation supplier like Kaman Corporation. This partnership will allow C&L to expand our product offerings,” said Brad Vieux, Director of Business Development, C&L Aerospace. “We can now offer customers structural repairs for customer owned units, or we can offer an immediate exchange. It gives our customers more options and we look forward to growing the program with Kaman.”

About Kaman’s U.S. Composites Businesses

Kaman’s U.S. composites business consists of two AS9100 Rev D registered companies with locations in Bennington, VT and Wichita, KS. These businesses offer a full line of services in composites from design, prototyping and testing, to full production of composite components and assemblies. Kaman Composites companies fabricate components for the defense, aerospace, and commercial markets, as well as the medical industry, and are Nadcap accredited for composite processing, NDI, and chemical processing. MRO composite repair services are offered under their FAA certified Part 145 repair station in Wichita, Kansas.

About Kaman Corporation

Kaman Corporation (NYSE:KAMN) was founded in 1945 by aviation pioneer Charles H. Kaman. Headquartered in Bloomfield, Connecticut, Kaman Corporation conducts business in the aerospace, industrial and medical markets. The company produces and/or markets widely used proprietary aircraft bearings and components; super precision, miniature ball bearings; proprietary spring energized seals, springs and contacts; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; and support for the company’s SH-2G Super Seasprite maritime helicopters and K-MAX® medium-to-heavy lift helicopters. More information is available at www.kaman.com

About C&L Aviation Group

C&L Aviation Group is an industry leader in servicing, maintaining, and supporting operators in the corporate and regional aviation industry. In addition to aircraft and engine sales and leasing programs, C&L offers parts support, heavy maintenance, interior refurbishment, aircraft teardown, disassembly services, and aircraft management. C&L is headquartered in Bangor, Maine, with international offices in Australia, Singapore, and Europe.

Kaman Corporation

James Coogan

860-243-6342

VP, Investor Relations and Business Development

[email protected]

or

Kaman Composites U.S.

Malissa Nesmith

316-880-9041

Sr. Director, Business Development

[email protected]

KEYWORDS: Connecticut United States North America

INDUSTRY KEYWORDS: Aerospace Other Manufacturing Manufacturing

MEDIA:

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UnitedHealth Group Updates Business Outlook Ahead of Investor Conference

UnitedHealth Group Updates Business Outlook Ahead of Investor Conference

MINNETONKA, Minn.–(BUSINESS WIRE)–
UnitedHealth Group (NYSE: UNH) issued an updated 2020 outlook and its initial view of 2021 ahead of its annual Investor Conference with analysts and institutional investors taking place virtually today, beginning at 9:00 a.m. ET.

Under the updated outlook, UnitedHealth Group revenues for 2020 are expected to approximate $257 billion, with net earnings to approach $15.90 per share and adjusted net earnings to approach $16.75 per share. Adjusted net earnings exclude from net earnings only the after-tax non-cash amortization expense pertaining to acquisition-related intangible assets.

UnitedHealth Group will also introduce its initial 2021 outlook, which includes revenues of $277 billion to $280 billion, net earnings of $16.90 to $17.40 per share, and adjusted net earnings of $17.75 to $18.25 per share. These figures include approximately $1.80 per share in potential net unfavorable impact to accommodate continuing COVID-19 effects, such as: treatment and testing costs; the residual impact of people deferring care in 2020; and unemployment and other economic-driven factors. Cash flows from operations are expected to range from $20 billion to $21 billion in 2021.

The Company will stream the presentation and management question-and-answer portion of this meeting on its Investor Relations page at www.unitedhealthgroup.com. Meeting materials, including financial metrics for 2020 and the initial outlook for 2021, will also be available on the Investor Relations page. A replay of the conference will be available on the Company web site.

About UnitedHealth Group

UnitedHealth Group (NYSE: UNH) is a diversified health care company dedicated to helping people live healthier lives and helping make the health system work better for everyone. UnitedHealth Group offers a broad spectrum of products and services through two distinct platforms: UnitedHealthcare, which provides health care coverage and benefits services; and Optum, which provides information and technology-enabled health services. For more information, visit UnitedHealth Group at www.unitedhealthgroup.com or follow @UnitedHealthGrp on Twitter.

Non-GAAP Financial Information

This news release presents non-GAAP financial information provided as a complement to the results provided in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Adjusted net earnings exclude amortization expense of approximately $1.10 per share and the related tax impact of $0.25 per share for both years ending December 31, 2020 and 2021, pertaining to acquisition-related intangible assets.

Forward-Looking Statements

The statements, estimates, projections, guidance or outlook contained in this document include “forward-looking” statements which are intended to take advantage of the “safe harbor” provisions of the federal securities law. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “forecast,” “outlook,” “plan,” “project,” “should” and similar expressions identify forward-looking statements. These statements may contain information about financial prospects, economic conditions and trends and involve risks and uncertainties. Actual results could differ materially from those that management expects, depending on the outcome of certain factors including: risks associated with public health crises, large-scale medical emergencies and pandemics, such as the COVID-19 pandemic; our ability to effectively estimate, price for and manage medical costs; new or changes in existing health care laws or regulations, or their enforcement or application; the DOJ’s legal action relating to the risk adjustment submission matter; our ability to maintain and achieve improvement in quality scores impacting revenue; reductions in revenue or delays to cash flows received under government programs; changes in Medicare, the CMS star ratings program or the application of risk adjustment data validation audits; failure to maintain effective and efficient information systems or if our technology products do not operate as intended; cyberattacks, other privacy/data security incidents, or our failure to comply with related regulations; risks and uncertainties associated with the pharmacy benefits management industry; competitive pressures; changes in or challenges to our public sector contract awards; our ability to contract on competitive terms with physicians, hospitals and other service providers; failure to achieve targeted operating cost productivity improvements; increases in costs and other liabilities associated with litigation, government investigations, audits or reviews; failure to manage successfully our strategic alliances or complete or receive anticipated benefits of strategic transactions; fluctuations in foreign currency exchange rates; downgrades in our credit ratings; our investment portfolio performance; impairment of our goodwill and intangible assets; and our ability to obtain sufficient funds from our regulated subsidiaries or from external financings to fund our obligations, maintain our debt to total capital ratio at targeted levels, maintain our quarterly dividend payment cycle, or continue repurchasing shares of our common stock. This above list is not exhaustive. We discuss these matters, and certain risks that may affect our business operations, financial condition and results of operations more fully in our filings with the SEC, including our reports on Forms 10-K, 10-Q and 8-K. By their nature, forward-looking statements are not guarantees of future performance or results and are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Actual results may vary materially from expectations expressed or implied in this document or any of our prior communications. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update or revise any forward-looking statements, except as required by law.

Contacts:

Brett Manderfeld

Senior Vice President

952-936-7216

Media:

Matt Stearns

Senior Vice President

202-276-0085

KEYWORDS: Minnesota United States North America

INDUSTRY KEYWORDS: General Health Professional Services Health Insurance

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EnPro Announces Completion of Sale of GGB’s Bushing Block Business

EnPro Announces Completion of Sale of GGB’s Bushing Block Business

CHARLOTTE, N.C.–(BUSINESS WIRE)–
EnPro Industries, Inc. (NYSE: NPO), a leading technology company using materials science to push boundaries in semiconductor, life sciences, and other technology-enabled sectors, today announced that it has completed the sale of its GGB bushing block business located in Dieuze, France to Melma Group. EnPro communicated its intent to exit this business on June 18, 2020 and during the third quarter identified a buyer to purchase the business.

“After announcing the exit of GGB’s bushing block business in June, we are pleased to have received an offer from Melma Group to purchase and continue operating the business. This transaction represents a positive outcome for all stakeholders as it preserves the jobs of our former team members, mitigates customer disruptions, and supports progress toward reshaping our portfolio,” said Marvin Riley, President and Chief Executive Officer.

The completion of this transaction is consistent with EnPro’s strategy to focus its portfolio on materials science-based businesses with leading technologies, compelling margins, strong cash flow, and high levels of recurring revenue that serve markets with favorable secular tailwinds. The company will continue to apply the EnPro Operating System to enable continuous improvement and allocate capital, organically and inorganically, to drive growth in businesses with these characteristics with the goal of maximizing long-term shareholder returns.

Oneida Associes served as exclusive transaction advisory firm to EnPro, and Fiducial Legal by Lamy served as legal counsel.

About EnPro

EnPro is a leading technology company using materials science to push the boundaries of the semiconductor, life sciences, and other technology-enabled sectors. For more information about EnPro, visit the company’s website at http://www.enproindustries.com.

About Melma Group

Melma Group is an industrial group, headquartered in France with operations in France and Germany, with casting, boilermaking and machining capabilities.

Forward-Looking Statements

Statements in this press release that express a belief, expectation or intention, as well as those that are not historical fact, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They involve a number of risks and uncertainties that may cause actual events and results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: impacts from the COVID-19 pandemic and governmental responses to limit the further spread of COVID-19, including impacts on the company’s operations, and the operations and businesses of its customers and vendors, including whether the company’s operations and those of its customers and vendors will continue to be treated as “essential” operations under government orders restricting business activities or, even if so treated, whether site-specific health and safety concerns might otherwise require certain of the company’s operations to be halted for some period of time; uncertainty with respect to the duration and severity of these impacts from the COVID-19 pandemic, including impacts on the general economy and the markets served by the company’s customers; the extent to which the impacts from the COVID-19 pandemic could result in a reduction in demand for the company’s products and services, which could also result in asset impairment charges, including for goodwill; other economic conditions in the markets served by EnPro’s businesses and those of its customers, some of which are cyclical and experience periodic downturns and disruptions, such as the recent disruptions in the pricing of oil and gas; prices and availability of its raw materials; the impact of fluctuations in relevant foreign currency exchange rates; unanticipated delays or problems in introducing new products; announcements by competitors of new products, services or technological innovations; changes in pricing policies or the pricing policies of competitors; and the amount of any payments required to satisfy contingent liabilities related to discontinued operations and the discontinued operations of its predecessors, including liabilities for certain products, environmental matters, employee benefit obligations and other matters. EnPro’s filings with the Securities and Exchange Commission, including its most recent Form 10-K and Form 10-Q, describe these and other risks and uncertainties in more detail. EnPro does not undertake to update any forward-looking statements made in this press release to reflect any change in management’s expectations or any change in the assumptions or circumstances on which such statements are based.

Jerry L. Johnson

Senior Vice President – Strategy, Corporate Development and Investor Relations

704-731-1527

[email protected]

KEYWORDS: North Carolina Europe United States North America France

INDUSTRY KEYWORDS: Technology Other Manufacturing Semiconductor Manufacturing

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Chatham Lodging Trust Completes Opportunistic Sale of Residence Inn by Marriott San Diego Mission Valley

Chatham Lodging Trust Completes Opportunistic Sale of Residence Inn by Marriott San Diego Mission Valley

Sale Highlights Portfolio Value, Liquidity Position Among Top Lodging REITs

WEST PALM BEACH, Fla.–(BUSINESS WIRE)–
Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, has completed the sale of the 192-room Residence by Marriott San Diego Mission Valley for $67 million, or approximately $349,000 per room, to the San Diego Housing Commission (SDHC). Proceeds from the sale will be used to repay the $27 million mortgage on the hotel. After sales related expenses, including Marriott termination fees, remaining net proceeds of approximately $38 million will be used to repay credit facility borrowings.

“Consistent with the guiding principles we established at our IPO in 2010, we choose to be opportunistic with respect to acquisitions and dispositions, and this successful sale at a very attractive valuation is a perfect example of that strategy,” highlighted Jeffrey H. Fisher, Chatham’s president and chief executive officer. “We acquired this hotel out of the Innkeepers bankruptcy in 2011 when NOI was $2.9 million, and since our acquisition, average annual NOI was approximately $4.4 million through 2019, roughly 50 percent higher. We generated an annual unleveraged return on this investment of approximately 9.5 percent. Now we are selling this asset at an approximate 6.5 percent cap rate on 2019 NOI and will use the net proceeds to enhance liquidity in the near-term and provide dry powder to pursue attractive distressed opportunities in the future. This has been a home-run investment for Chatham and is a win/win for both Chatham and the SDHC.”

Chatham has estimated liquidity of $146 million, including cash of approximately $32 million as of September 30, 2020 and remaining borrowing capacity on the credit facility of $114 million. Based on cash used before capital expenditures of $1.6 million in September 2020 and making the assumption that there are no meaningful changes from September operating levels, the company would have approximately 91 months of liquidity remaining, providing liquidity into 2028.

Pro forma for this sale and the pending sale of the joint venture with Colony Capital, Chatham’s key credit ratios are significantly enhanced. Pro forma leverage goes to 35 percent from 38 percent based on the ratio of the company’s pro forma net debt to hotel investments at cost as of September 30, 2020, and Chatham’s pro forma 2019 net debt to EBITDA ratio decreases an entire point to 4.7x compared to 5.7x.

“We constantly seek ways to protect long-term value for our equity holders, and with this sale, we further solidify our financial position which should propel Chatham to come out the other side of this pandemic healthier than many of our lodging REIT peers,” stated Dennis Craven, Chatham’s chief operating officer. “We have produced the highest absolute RevPAR of all lodging REITs over the past two quarters, and given our portfolio quality and premium locations, we believe we will be one of the first lodging REITs to return to pre-pandemic levels.”

About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 85 hotels totaling 11,848 rooms/suites, comprised of 39 properties it wholly owns with an aggregate of 5,900 rooms/suites in 15 states and the District of Columbia and a minority investment in the Innkeepers joint ventures that owns 46 hotels with an aggregate of 5,948 rooms/suites. Additional information about Chatham may be found at chathamlodgingtrust.com.

Included in this press release are certain “non-GAAP financial measures,” within the meaning of Securities and Exchange Commission (SEC) rules and regulations, that are different from measures calculated and presented in accordance with GAAP (generally accepted accounting principles). The company considers the following non-GAAP financial measures useful to investors as key supplemental measures of its operating performance: (1) FFO, (2) Adjusted FFO, (3) EBITDA, and (4) Adjusted EBITDA. These non-GAAP financial measures could be considered along with, but not as alternatives to, net income or loss, cash flows from operations or any other measures of the company’s operating performance prescribed by GAAP.

Dennis Craven (Company)

Chief Operating Officer

(561) 227-1386

KEYWORDS: California Florida United States North America

INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property REIT Building Systems Other Travel Lodging Other Construction & Property Destinations Residential Building & Real Estate Travel

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Posted on

BriaCell Appoints Martin Schmieg to Board of Directors

BERKELEY, Calif. and VANCOUVER, British Columbia, Dec. 01, 2020 (GLOBE NEWSWIRE) — BriaCell Therapeutics Corp. (“BriaCell” or the “Company”) (TSX-V:BCT) (OTCQB:BCTXF), a clinical-stage biotechnology company specializing in targeted immunotherapy for advanced breast cancer, is pleased to announce that Mr. Martin Schmieg has rejoined the Company as a member of its Board of Directors.

Having previously served as a member of BriaCell’s Board of Directors from 2016 to 2019, Mr. Schmieg is a “C” level executive with a diversified background in the global biotech, med-tech and pharmaceutical industries with 40 years of business experience. He currently serves as Co-Founder and CEO of ClearIt, LLC., a private company based in Massachusetts. As a hands-on leader, Mr. Schmieg’s early career focused on accounting and financial management responsibilities serving as Chief Financial Officer to privately held Cytometrics, Inc., Advanced Bionics Corporation and publicly traded Sirna Therapeutics, Inc. and Isolagen, Inc. With Cytometrics, he raised $55 million in four rounds of venture capital financing to bring the company’s Cytoscan® instrument to market. With Advanced Bionics, he was the financial architect of the company’s sale to Boston Scientific (BSX) for $4.2 billion. With Sirna Therapeutics and in collaboration with its venture owners, he co-developed the company’s strategic plan which led to the company’s acquisition by Merck & Co for $1.3 billion.

In 2006, Mr. Schmieg assumed the position of Chief Executive Office of Freedom-2, Inc., a venture startup in novel dermatology applications. While at Freedom-2, Mr. Schmieg raised $14 million in venture capital and led the company in the development and market introduction of InfinitInk®, which was a Time Magazine “Invention of the Year” in 2008. In 2009, Mr. Schmieg reversed merged Freedom-2 into Nuvilex, Inc., now PharmaCyte, Inc.

Since 2010, Mr. Schmieg has been providing strategic advisory services to the life sciences industry including engagements with the following companies: NeoStem, Inc. (now Caladrius Biosciences, Inc.), Beckman Coulter Genomics, Calimmune, Inc., Cryoport, Inc., Sapientia Pharmaceuticals, Inc. and Rokk3r Labs, LLC. Martin holds a BS from LaSalle University, Philadelphia, PA and is a certified public accountant.

“We are pleased to welcome back Martin, a biotech veteran, to our Board,” remarked BriaCell CEO Dr. Bill Williams. “Martin’s unique experience in the industry will be an asset to us as we are expanding our reach in the industry to identify and evaluate strategic partnership opportunities.”

“I am extremely excited to be rejoining the BriaCell Board,” noted Mr. Schmieg. “I look forward to again working closely with my BriaCell colleagues to support efforts to advance its pipeline of product candidates and prospective corporate partners.”

About BriaCell

BriaCell is an immuno-oncology focused biotechnology company developing targeted and effective approaches for the management of cancer.

For additional information on BriaCell, please visit: https://briacell.com/.

Cautionary Note Regarding Forward-Looking Information

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation (also known as “forward-looking statements”) which are subject to known and unknown risks relevant to the Company in particular and to the biotechnology and pharmaceutical industries in general, uncertainties and other factors that may cause actual events to differ materially from current expectation. These risks are more fully described in the Company’s public filings available at www.sedar.com.

These forward-looking statements include, but are not limited to, BriaCell’s plans, objectives, expectations and intentions. Such forward-looking statements reflect BriaCell’s current beliefs and are based on information currently available to management. Although the forward-looking statements contained in this news release are based upon what BriaCell believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither 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.

Contact Information

For further information, please contact:

BriaCell Therapeutics Corp.:

William V. Williams, MD
President & CEO
Phone: 1-888-485-6340

BriaCell Therapeutics Corp.:

Farrah Dean
Manager, Corporate Development
Email: [email protected]
Phone: 1-888-485-6340



Posted on

ZW Data Action Technologies Completes Its Blockchain Infrastructure Platform

BEIJING, Dec. 01, 2020 (GLOBE NEWSWIRE) — ZW Data Action Technologies, Inc. (Nasdaq: CNET) (“ZW Data” or the “Company”), an integrated online advertising, precision marketing, data analytics and other value-added services company serving enterprise clients, today announced the completion of its Blockchain Integrated Framework for Retail Business, or BIF.

With its strategic move to expand to blockchain industry in early 2018, ZW Data has been devoting its efforts to research and development of blockchain underlying technology. It has since developed two blockchain-powered applications, OMG and Bo!News. The Company then has been building BIF to provide a framework platform for more accessible and efficient integration of small and medium sized retail business users. BIF provides on-time delivery, real-time information, and record-time service for retail business users while consolidating both key opinion leader (“KOL”) and Online-to-Offline (“O2O”) marketing and advertising information. Harnessing the benefits of blockchain-powered technology, BIF could improve security, give retailers more control over their data, and create new forms of marketing to help retailers meet consumer needs with higher precision and capture the value otherwise missed. ZW Data plans to complete the integration of BO!News and OMG onto BIF for commercial release by the early 2021 and launch BIF to retail business users in mid-2021.

“We have built BIF based on our 20 plus years of business, advertising and precision marketing data. With distributed data storage, point-to-point transmission, encryption algorithm and other advanced blockchain-powered technology, BIF will offer a fully-managed platform to allow solutions to rapidly adapt to different business scenarios and perform multiple tasks across industries. We are committed to creating a digitized smart ecosystem for small and medium sized retailers to improve their KOL and O2O channel efficiency, build traceable trust and remove friction and fraud. We anticipate BIF will be officially launched in 2021 and we expect to present a credible, traceable, and highly secured blockchain application infrastructure platform to our retailer users,” commented Handong Cheng, Chairman and Chief Executive Officer of ZW Data.

About ZW Data Action Technologies Inc.

Established in 2003 and headquartered in Beijing, China, ZW Data Action Technologies, Inc. (the “Company”) offers online advertising, precision marketing, data analytics and other value-added services for enterprise clients. Leveraging its fully integrated services platform, proprietary database, and cutting-edge algorithms, ZW Data Action Technologies delivers customized, result-driven business solutions for small and medium-sized enterprise clients in China. The Company also develops blockchain and artificial intelligence enabled web/mobile applications and software solutions for general public, enterprise clients, and government agencies. More information about the Company can be found at: http://www.zdat.com/.


Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of ZW Data Action Technologies Inc., which can be identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipates,” “estimates” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ZW Data Action Technologies current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting ZW Data Action Technologies will be those anticipated by ZW Data Action Technologies. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ZW Data Action Technologies undertakes no obligation to publicly update or revise any forward-looking statements, whether
as a result of
new information, future events or otherwise, except as may be required under applicable securities laws.

For more information, please contact:

Sherry Zheng        
Weitian Group LLC
Email: [email protected]
Phone: +1 718-213-7386