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Vectrus (VEC) – Strong First Quarter Results

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Wednesday, May 12, 2021

Vectrus (VEC)
Strong First Quarter Results

Vectrus Inc is a U.S.-based company that provides services to the U.S. government. It operates as one segment and offer facility and logistics services and information technology and network communications services. The information technology and network communications capabilities consist of communications systems operations and maintenance, management and service support, systems installation and activation, system-of-systems engineering and software development, and mission support for the department of defense. The facility and logistics service include airfield management, ammunition management, civil engineering, communications, emergency services, life support activities, public works, security, transportation operations and others.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    1Q21 Results. Vectrus’ 1Q21 revenue was $434 million, up 23% y-o-y, with organic growth of 4%. Adjusted EBITDA was $20.7 million, up from $14.7 million last year. Adjusted EBITDA margin increased 60 basis points to 4.8%. EPS was $1.02 compared to $0.74, while adjusted EPS was $1.20 in 1Q21 versus $0.82 last year. We had forecast revenue of $400 million, adjusted EBITDA of $19.3 million, and EPS of $0.89.

    Winning Never Gets Old.  Vectrus continued to be award significant contracts during the first quarter. Significantly, a number of the contracts play into the Company’s converged infrastructure market leadership position. The contract wins continue to diversify Vectrus’ client base and geographical locations …



This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

The GEO Group, Inc. (GEO) – Better-Than-Expected First Quarter Results

Posted on by Admin

Tuesday, May 11, 2021

The GEO Group, Inc. (GEO)
Better-Than-Expected First Quarter Results

With over 94,000 beds owned, leased or managed across its business lines and serving over 260,000 people daily, GEO is a leading provider of mission critical real estate to its governmental partners. The Company is the first fully integrated equity REIT specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the U.S., Australia, South Africa, and the U.K.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    1Q21 Results. The GEO Group reported first quarter 2021 net income of $50.5 million, or $0.41 per diluted share, compared to $25.2 million, or $0.21 per diluted share, for the first quarter 2020. Total revenue for the first quarter 2021 was $576.4 million compared to $605.0 million in the same period last year. GEO reported adjusted net income of $34.1 million, or $0.28 per diluted share, compared to $28.8 million, or $0.24 per diluted share, for the first quarter 2020. We had projected revenue of $579 million and EPS of $0.20.

    Favorable Cost Trends.  The quarter adjusted EPS beat was driven by favorable cost trends, especially in the Secure Services business, reflecting lower y-o-y populations. G&A as a percent of revenue fell to 8.41% from 8.89%, while operating costs as a percent of revenue dropped to…



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Townsquare Media Inc (TSQ) – Strong Recovery With 2019 In Focus

Posted on by Admin

Tuesday, May 11, 2021

Townsquare Media Inc (TSQ)
Leaning In With A Digital First Strategy

Townsquare Media Inc is an entertainment and media company offering digital marketing solutions in the United States and Canada. It owns and operates radio stations, social media properties focusing the small and mid-cap companies. Services offered to the clients include live events, local advertising, digital advertising, e-commerce offerings, few others. The segments through which the company operates its businesses are classified into Local marketing solutions and Entertainment segments. Revenues are generated from commercials through broadcasts and sale of internet based advertisements.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Q1 results appear in line. Q1 revenues were $88.7 million versus our $87.5 million estimate. Cash flow, as measured by adjusted EBITDA, was $20.1 million versus our $18.4 million estimate, enhanced by lower-than-expected corporate expenses and better gross profit margins.

    Q2 guidance well above expectations.  Q2 revenues are expected to be between $101 million and $104 million, for growth between 36% to 40% on a year-over-year basis. Importantly, Q2 revenue guidance is a modest 4% to 7% decline compared to the second quarter 2019. We have adjusted upward our Q2 revenue estimate from $83.5 million to $102.5 million and our adjusted EBITDA estimate from $10.0 million to…



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Flotek Welcomes New Vice President of Professional Chemistries

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Flotek Welcomes New Vice President of Professional Chemistries

30-Year Jan-San Veteran to Lead Business Development

HOUSTON, May 10, 2020 — Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) is pleased to announce Matthew P. Sullivan has joined the Company as Vice President of Professional Chemistries. In this role, he will oversee the Company’s business development strategy and implementation for Flotek’s cleaning, disinfecting and sanitizing product line. He will report directly to Ryan Ezell, Ph.D, President of Flotek’s Chemistry Technologies segment.
 

Sullivan is an experienced leader in the Away from Home market, with a specialization in the janitorial and sanitizing segment, bringing more than 30 years’ experience to the role. He joins Flotek from Georgia-Pacific, a Koch Industries company, where he held a variety of leadership roles, and most recently, served as Director of Sales for the Northeast Market for GP Pro. He started his career at Scott Paper Company in 1989, later becoming senior market manager at Kimberly Clark, following the Scott and Kimberly Clark merger. Sullivan joined Clorox Professional for six years running 24 states in the Eastern region. In 2003, he served on the leadership team of Technical Concepts (TC), the world leader in restroom automation systems, which sold to Newell Rubbermaid in 2008.
 

“I’m incredibly excited to welcome Matt to our team here at Flotek. I am confident Matt will help accelerate the momentum we have built in our professional chemistries product line. For decades, Matt has built a reputation as a trusted leader and partner to customers, helping to solve their challenges through meaningful solutions,” said Ezell.
 

“I am thrilled to join Flotek at such an exciting time in the Company’s journey. With Flotek’s chemistry and manufacturing core competencies, I am eager to develop and promote our technologies and portfolio of product solutions to the marketplace. Flotek’s agility and ability to meet distribution and end user demands will create mutual value for all stakeholders – end users, distributors and shareholders,” said Sullivan. “I am humbled and honored that the Flotek leadership team and Board has entrusted me with this pursuit. I look forward to leveraging my relationships, experience and market knowledge in the janitorial and sanitizing industry – built over my professional lifetime – to grow the Company’s professional chemistries business.”
 

As an inducement to join the Company and to closely align interests with the Company’s shareholders, Sullivan has been granted 60,000 restricted stock awards (RSAs) that will vest over three years.
 

Sullivan graduated from Northeastern University in Boston with a Bachelor of Science in journalism. He resides in Freehold, New Jersey.
 

In March, the Company launched Flotek Protekol™, its full suite of high-performance surface cleaners, disinfectants, wipes and sanitizers. The product line is made with ingredients sourced, formulated, blended and bottled in the USA, and includes products registered with the U.S. Food and Drug Administration (FDA) and Environmental Protection Agency (EPA). More information can be found at www.flotekprotekol.com.

About Flotek
Industries
Flotek Industries, Inc. is a technology-driven, specialty chemistry and data company that helps customers across industrial, commercial and consumer markets improve their Environmental, Social and Governance performance. Flotek’s Chemistry Technologies segment develops, manufactures, packages, distributes, delivers, and markets high-quality cleaning, disinfecting and sanitizing products for commercial, governmental and personal consumer use. Additionally, Flotek empowers the energy industry to maximize the value of their hydrocarbon streams and improve return on invested capital through its real-time data platforms and green chemistry technologies. Flotek serves downstream, midstream and upstream customers, both domestic and international. Flotek is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.” For additional information, please visit Flotek’s web site at www.flotekind.com.

Forward-Looking
Statements
Certain statements set forth in this press release constitute 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) regarding Flotek Industries, Inc.’s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release.  Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management.  Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements.  Further information about the risks and uncertainties that may impact the Company are set forth in the Company’s most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the “Risk Factors” section thereof), and in the Company’s other SEC filings and publicly available documents.  Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.

Contact:
Danielle Allen
Senior Vice President, Chief of Staff
E: [email protected]
P: (713) 726-5322

Release – Flotek Announces First Quarter 2021 Results

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Flotek Announces First Quarter 2021 Results

Q1’21 EBITDA Improves Sequentially

HOUSTON, May 10, 2021 – Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK) today announced results for the first three months ended March 31, 2021.
 

John W. Gibson, Jr., Chairman, President, and Chief Executive Officer stated: “While we experienced a slow start to the quarter due to the continued challenging macro-environment and impacts of Winter Storm Uri, we are pleased with our progress through the quarter as demand significantly increased across both segments towards the end of the quarter and continued into this quarter. We are excited about the momentum we have and are optimistic about our opportunities for growth across our business as the market continues its recovery in the latter half of the year.
 

“We are accelerating our ESG solutions, which we believe will be a key growth driver as the energy market increases its focus on ESG amid an evolving regulatory framework. Over the years, we have built a leading position as a developer of green chemistry solutions, and we are delivering our suite of greener chemistry and data solutions to meet our customers’ evolving needs today. Additionally, we continue to see significant opportunities in international markets and are optimistic about the momentum we are gaining in key growth markets. Lastly, we are strengthening our liquidity to improve our financial flexibility. As a result of these actions, we continue to be confident in our long-term strategy, and I look forward to working with our outstanding leadership team to further improve operational and financial performance.”

 

First Quarter
Financial Results 

  • Consolidated Revenues:  Flotek generated first quarter 2021 consolidated revenue of $11.8 million, down 2.8% from $12.1 million in the fourth quarter, and below $19.4 million in the first quarter last year. The year-over-year decrease in revenue was driven by trends in the macro-environment for U.S. onshore drilling and completion activity and the COVID-19 pandemic continues to pressure productivity and global customer demand.
  • Consolidated Operating
    Expenses:      Consolidated operating expenses (excluding depreciation and amortization) were $13.8 million in the first quarter 2021, a 39.6% decline from $22.8 million in the same period last year and a 43.3% decline from the prior quarter. The year-over-year decline was driven by a reduction in costs of sales due to lower sales, as well as lower operating expense driven by consolidation of corporate facilities, reduction of equipment rentals, lowered personnel costs and supply chain expenses.
  • Corporate General &
    Administrative Expenses (CG&A):      Corporate general and administrative expenses for the first quarter of 2021 were $4.4 million, compared to $4.5 million for the first quarter of 2020 and $3.7 million for the fourth quarter of 2020. The year-over-year decline was primarily driven by lower personnel and severance costs that occurred in the first quarter 2020, as well as a reduction in occupancy costs as the Company moved out of its corporate headquarters and consolidated its Global Research & Innovation Center. The sequential increase was primarily driven by an increase in one-time legal, accounting and other professional fees, offset by a decrease in compensation.
  • Adjusted EBITDA:  Adjusted EBITDA for the first quarter 2021 was a loss of $6.6 million, slightly below the $6.8 million loss in the fourth quarter of 2020, driven by an increase in one-time professional fees, offset by lower compensation. 
  • Loss from Operations:  The Company reported a loss from operations for the first quarter 2021 of $8.3 million, or a loss of $0.12 per basic/diluted share, compared to a loss from operations in the first quarter 2020 of $64.0 million, or a loss of $1.07 per basic/diluted share which included a non-recurring charge of $57.5 million related to the impairment of property, plant, and equipment, right-of-use assets, and intangible assets.

Balance Sheet and Liquidity
As of March 31, 2021, the Company had cash and equivalents of $33.9 million, with significant year-over-year improvements in cash usage driven by operational efficiencies across the business. Flotek also had a combined $5.7 million of loans outstanding pursuant to the Paycheck Protection Program (“PPP”) related to the “Cares Act.” 
 

Chemistry Technologies
Segment: Energy Chemistries & Professional Chemistries
In the first quarter, sales in the Chemistry Technologies segment declined sequentially 5.0% to $10.3 million. The decrease was primarily a result of continued market volatility in the macro-environment impacting energy supply and major disruption in February from Winter Storm Uri, impacting the entire supply chain. The segment experienced notable pickup in March as demand significantly increased. Highlights from the quarter include:
 

  • Despite the winter storm in February, the Company saw a rebound in its domestic energy chemistries business, up 56%, on a sequential basis. Internationally, following headwinds in market activity and purchasing delays, the Company regained traction towards the end of the quarter.
  • The Company engaged with C-Suite leaders at E&Ps to reintroduce the Company’s Environmental, Social and Governance-focused (ESG) value proposition to deliver cost-effective, environmentally friendly, safer chemistry solutions.
  • In the quarter, the Company initiated key field trial applications for its green, reservoir-centric chemistry technologies.
  • The Company hired Nathan Snoke as Vice President of Energy Chemistries. A global leader in differentiated oilfield services, Snoke joins the Company from Halliburton, where he was most recently Senior Region Manager of Europe, Eurasia, and Sub-Sahara Africa, based in London.  Nathan brings more than 16 years of oil and gas experience to Flotek, ranging from field operations to senior-level management across multiple continents.
  • In the first quarter, Flotek launched its new professional chemistries brand, Flotek Protekol™, which includes a comprehensive line of surface cleaners, degreasers, wipes, disinfectants and sanitizers made in the USA.
  • Flotek formed a strategic agreement with a major global manufacturer of specialty and intermediate chemicals in the first quarter to produce and package EPA-registered disinfectant wipes.  
  • The Company hired Matthew Sullivan as Vice President of Professional Chemistries to lead business development. Sullivan has more 30 years of janitorial and sanitizing sales and marketing expertise, including Georgia-Pacific, Clorox, Kimberly Clark and Scott Worldwide.  

Data Analytics Segment
In the first quarter, Data Analytics’ sales improved 16.7% sequentially to $1.5 million, primarily driven by an increase in new equipment sales in North America. Flotek continued to enhance its offerings and increase its efficiency in delivering solutions, while targeting new customers and markets to transform their businesses through real-time data and analytics. Highlights include:
 

  • Added new customers and increased repeat purchases from existing customers, demonstrating the value JP3 delivers to its customers with the multi-applications of its technologies.
  • Made progress on its international market entry strategy by continuing meaningful engagement with potential customers in the Middle East, Africa and Asia.  During the first quarter, Flotek secured its second pilot in the Middle East and completed its site survey with its first international pilot. 
  • Implemented software development enhancements by accelerating Artificial Intelligence (“AI”) and machine learning capabilities, improving the precision of measurement between batches of refined hydrocarbon products – reducing time, waste and money spent. During the first quarter, the company launched its first application using AI in batch interface for pipelines and successfully installed the application in two locations. 
  • Accelerated discussions with customers on its “green benefits” portfolio of applications which helps companies reduce their carbon footprint, energy consumption and emissions. The Company will continue to help customers improve their ESG performance through its JP3 product offerings.

 

Termination of
Agreement with Florida Chemical Company
 As previously disclosed in an 8-K filing on March 29, 2021, Flotek Chemistry, LLC, a wholly-owned subsidiary of Flotek, delivered a notice of termination for the Supply Agreement between Flotek and Florida Chemical Company, LLC (FCC) dated February 28, 2019 following Florida Chemical’s refusal to allow Flotek to exercise its contractual rights to audit the books and records related to the cost of terpene purchased. Flotek believes it has sufficient terpene inventory and alternative terpene supply sources to meet its requirements and does not intend to purchase additional supplies of terpene from FCC.

 

Going forward, the Company’s supply management strategy will align terpene purchases with its demand and does not expect that the termination of the Supply Agreement will have a material effect on its operations or ability to meet customer needs.
 


Conference Call
Details
 

Flotek will host a conference call on Tuesday, May 11, 2021, at 9:00 am CDT (10:00 a.m. EDT) to discuss its first quarter results ended March 31, 2021. To participate in the call, participants should dial 844-835-9986 approximately five minutes prior to the start of the call. The call can also be accessed from Flotek’s website at www.flotekind.com.
 


About Flotek
Industries, Inc.
 

Flotek Industries, Inc. is a technology-driven, specialty chemistry and data company that helps customers across industrial, commercial and consumer markets improve their Environmental, Social and Governance performance. Flotek’s Chemistry Technologies segment develops, manufactures, packages, distributes, delivers, and markets high-quality cleaning, disinfecting and sanitizing products for commercial, governmental and personal consumer use. Additionally, Flotek empowers the energy industry to maximize the value of their hydrocarbon streams and improve return on invested capital through its real-time data platforms and green chemistry technologies. Flotek serves downstream, midstream and upstream customers, both domestic and international. Flotek is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.” For additional information, please visit Flotek’s web site at www.flotekind.com.
 

 


Forward-Looking
Statements
Certain statements set forth in this press release constitute 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) regarding Flotek Industries, Inc.’s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release.  Although forward-looking statements in this press release reflect the good faith judgment of management, such statements can only be based on facts and factors currently known to management.  Consequently, forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements.  Further information about the risks and uncertainties that may impact the Company are set forth in the Company’s most recent filing with the Securities and Exchange Commission on Form 10-K (including, without limitation, in the “Risk Factors” section thereof), and in the Company’s other SEC filings and publicly available documents.  Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this press release.
 

 


Inquiries, contact:
Danielle Allen
Senior Vice President, Chief of Staff
E: [email protected]
P: (713) 726-5322

Release – Information Services Group Announces First-Quarter 2021 Results

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Information Services Group Announces First-Quarter 2021 Results

STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: 
III), a leading global technology research and advisory firm, today reported record fee revenues, profitability and cash flow for the first quarter ended March 31, 2021.

“ISG is off to its best start ever,” said Michael P. Connors, chairman and CEO. “With rising demand for all things digital and reaping the benefits of our new operating model and disciplined operating approach, we delivered record first-quarter fee revenues and profitability, with new first-quarter highs for adjusted EBITDA, net income and GAAP earnings per share. Momentum is on our side.”

Commenting on current market conditions, Connors said ISG clients are embracing “a new wave of digital transformation” coming out of the pandemic. “COVID-19 showed every company the power of digital to connect people, attract new customers, and enable a new era of business efficiency and growth. We see enterprises in many industries beginning to increase their digital investments, gradually moving beyond initial COVID cautiousness as the crisis begins to lift in many parts of the world.”

ISG is well positioned to capitalize on this demand with its growing array of digital offerings, in-depth market research and analysis, and SaaS-based platforms, including its market-leading ISG GovernX® vendor compliance and risk management platform, Connors said.

One area of high demand is automation technologies, Connors said, pointing to a recent automation contract ISG signed with a major entertainment company. The deal, valued at more than $10 million, is the largest ever signed by ISG Automation, the firm’s pure-play intelligent automation business.

Overall, ISG is realizing new client growth opportunities, higher consultant utilization and improved margins through its solution-centric ISG NEXT operating model, including the ISG iFlex™ global delivery network, Connors noted.

First-Quarter 2021
Results

Reported revenues for the first quarter were $66.6 million, up 4 percent versus last year (up 1 percent in constant currency). Currency translation positively impacted reported revenues by $2.4 million versus the prior year. Reported revenues include reimbursable client travel and entertainment expense (“T&E”), which was down $1.5 million, or 240 basis points, versus the prior year, due to pandemic-related travel restrictions. Excluding the impact of reimbursable T&E, fee revenues were up 7 percent, to a new record.

First-quarter revenues also were negatively impacted by $2 million versus last year due to the absence of ISG-produced in-person industry events, and also impacted by continuing lockdowns across Europe.

Reported revenues were $38.1 million in the Americas, up 7 percent versus the prior year, excluding the impact of T&E (up 3 percent reported); $22.7 million in Europe, up 4 percent versus the prior year, excluding the impact of T&E (up 3 percent on a reported basis and down 5 percent in constant currency), and $5.7 million in Asia Pacific, up 24 percent versus the prior year, excluding the impact of T&E (up 22 percent on a reported basis and up 6 percent in constant currency).

ISG reported record first-quarter operating income of $5.0 million, compared with an operating loss of $0.7 million in the first quarter of 2020. The firm also reported record first-quarter net income and fully diluted income per share of $3.4 million and $0.07, respectively, compared with a net loss of $1.4 million and a fully diluted loss per share of $0.03 in the prior year’s first quarter.

Adjusted net income (a non-GAAP measure defined below under “Non-GAAP Financial Measures”) for the first quarter was $5.5 million, or $0.10 per share on a fully diluted basis, compared with adjusted net income of $1.1 million, or $0.02 per share on a fully diluted basis, in the prior year’s first quarter.

First-quarter adjusted EBITDA (a non-GAAP measure defined below under “Non-GAAP Financial Measures”) was a record $8.6 million, up 2.4 times from the first quarter of last year. Adjusted EBITDA margin was 13 percent, compared with 6 percent in the prior year, and consulting utilization rose 700 basis points, to 75 percent, reflecting the positive impact of the new ISG NEXT operating model.

Other Financial and
Operating Highlights

ISG generated a record $12.1 million of first-quarter cash from operations, compared with $4.6 million in the prior year. The firm’s cash balance totaled $48.6 million at March 31, 2021, up 2.8 times from $17.4 million last year. ISG paid down $1.1 million of debt during the quarter and repurchased $3.0 million of shares. As of March 31, 2021, ISG had $77.7 million in debt outstanding, a decrease of 11 percent from $86.9 million at the end of the first quarter last year.

2021 Second-Quarter
Revenue and Adjusted EBITDA Guidance

“For the second quarter of 2021, ISG is targeting to be in the double-digit growth range versus the prior year in both revenues and adjusted EBITDA, with revenues between $65 million and $67 million and adjusted EBITDA between $8 million and $9 million,” said Connors. “We will continue to monitor the macro-economic environment, including the impact of the coronavirus, and adjust our business plans as markets dictate.”

Conference Call

ISG has scheduled a call for 9 a.m., U.S. Eastern Time, Tuesday, May 11, 2021, to discuss the company’s first-quarter results. The call can be accessed by dialing 1-800-367-2403; or, for international callers, by dialing 001-334-777-6978. The access code is 8193481. A recording of the conference call will be accessible on ISG’s website (www.isg-one.com) for approximately four weeks following the call.

Forward-Looking
Statements

This communication contains “forward-looking statements” which represent the current expectations and beliefs of management of ISG concerning future events and their potential effects. Statements contained herein including words such as “anticipate,” “believe,” “contemplate,” “plan,” “estimate,” “target,” “expect,” “intend,” “will,” “continue,” “should,” “may,” and other similar expressions, are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future results and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. Those risks relate to inherent business, economic and competitive uncertainties and contingencies relating to the businesses of ISG and its subsidiaries including without limitation: (1) failure to secure new engagements or loss of important clients; (2) ability to hire and retain enough qualified employees to support operations; (3) ability to maintain or increase billing and utilization rates; (4) management of growth; (5) success of expansion internationally; (6) competition; (7) ability to move the product mix into higher margin businesses; (8) general political and social conditions such as war, political unrest and terrorism; (9) healthcare and benefit cost management; (10) ability to protect ISG and its subsidiaries’ intellectual property or data and the intellectual property or data of others; (11) currency fluctuations and exchange rate adjustments; (12) ability to successfully consummate or integrate strategic acquisitions; (13) outbreaks of diseases, including coronavirus, or similar public health threats or fear of such an event; and (14) engagements may be terminated, delayed or reduced in scope by clients. Certain of these and other applicable risks, cautionary statements and factors that could cause actual results to differ from ISG’s forward-looking statements are included in ISG’s filings with the U.S. Securities and Exchange Commission. ISG undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.

Non-GAAP Financial
Measures

ISG reports all financial information required in accordance with U.S. generally accepted accounting principles (GAAP). In this release, ISG has presented both GAAP financial results as well as non-GAAP information for the three months ended March 31, 2021 and March 31, 2020. ISG believes that evaluating its ongoing operating results will be enhanced if it discloses certain non-GAAP information. These non-GAAP financial measures exclude non-cash and certain other special charges that many investors believe may obscure the user’s overall understanding of ISG’s current financial performance and the Company’s prospects for the future. ISG believes that these non-GAAP measures provide useful information to investors because they improve the comparability of the financial results between periods and provide for greater transparency of key measures used to evaluate the Company’s performance.

ISG provides adjusted EBITDA (defined as net income plus interest, taxes, depreciation and amortization, foreign currency transaction gains/losses, non-cash stock compensation, change in contingent consideration, acquisition-related costs, severance, integration and other expense and financing-related costs), adjusted net income (defined as net income plus amortization of intangible assets, non-cash stock compensation, foreign currency transaction gains/losses, change in contingent consideration, acquisition-related costs, severance, integration and other expense, financing-related costs, and write-off of deferred financing costs, on a tax-adjusted basis), adjusted net income per diluted share and selected financial data on a constant currency basis which are non-GAAP measures that the Company believes provide useful information to both management and investors by excluding certain expenses and financial implications of foreign currency translations, which management believes are not indicative of ISG’s core operations. These non-GAAP measures are used by ISG to evaluate the Company’s business strategies and management’s performance.

We evaluate our results of operations on both an as reported and a constant currency basis. The constant currency presentation, which is a non-GAAP financial measure, excludes the impact of year-over-year fluctuations in foreign currency exchange rates. We believe providing constant currency information provides valuable supplemental information regarding our results of operations, thereby facilitating period-to-period comparisons of our business performance and is consistent with how management evaluates the Company’s performance. We calculate constant currency percentages by converting our current and prior-periods local currency financial results using the same point in time exchange rates and then compare the adjusted current and prior period results. This calculation may differ from similarly titled measures used by others and, accordingly, the constant currency presentation is not meant to be a substitution for recorded amounts presented in conformity with GAAP, nor should such amounts be considered in isolation.

Management believes this information facilitates comparison of underlying results over time. Non-GAAP financial measures, when presented, are reconciled to the most closely applicable GAAP measure. Non-GAAP measures are provided as additional information and should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the forward-looking non-GAAP estimates contained herein to the corresponding GAAP measures is not being provided, due to the unreasonable efforts required to prepare it.

About ISG

ISG (Information Services Group) (Nasdaq: 
III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

Release – Information Services Group Initiates Quarterly Cash Dividend

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Information Services Group Initiates Quarterly Cash Dividend

STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, today announced that its Board of Directors has approved the initiation of a quarterly cash dividend to holders of ISG common stock.

ISG will pay a second-quarter cash dividend of $0.03 per share of common stock on June 18, 2021 to shareholders of record at the close of business on June 4, 2021. The Board expects the third-quarter dividend also will be set at $0.03 per share, with an announcement expected August 9, 2021, and expects to pay a total cash dividend of $0.12 over the four quarters ending in March 2022. All future dividends will be subject to Board approval.

“The Board’s decision to initiate a recurring cash dividend, the first in our 15 years as a public company, reflects our growing business momentum and our unwavering commitment to creating shareholder value over the long term,” said Michael P. Connors, chairman and CEO of ISG.

Pointing to the record $44 million of cash flow from operations ISG generated in 2020 and the record $12 million in the first quarter of 2021, Connors said the new cash dividend “is made possible by the strong cash-generating power of our business and our disciplined operating approach.”

In addition to returning capital to ISG shareholders, Connors said the firm’s strong free cash flow allows ISG to reinvest in the growth of the business and prudently manage debt. ISG has paid down nearly 40 percent of its debt since December 2016, he said.

“As we continue to build on our business momentum in 2021, the initiation of a dividend is a logical next step that adds another element to our capital allocation strategy,” Connors said. “We believe a dividend will provide predictable ongoing returns, while continuing to allow for the repurchase of shares, repayment of debt and the pursuit of acquisitions on an opportunistic basis.”

About ISG

ISG (Information Services Group) (Nasdaq: 
III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

Source: Information Services Group, Inc.

Release – Endeavour Silver Reports Financial Results for the First Quarter 2021

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Endeavour Silver Reports Financial Results for the First Quarter 2021; Earnings Conference Call at 10am PDT (1pm EDT) Today

VANCOUVER,
British Columbia, May 11, 2021 (GLOBE NEWSWIRE) — Endeavour Silver Corp.
(NYSE: EXK; TSX: EDR) released its financial results today for the three months ended March 31, 2021. The Company operates three silver-gold mines in Mexico: the Guanacevi mine in Durango state, the Bolanitos mine in Guanajuato state and the El Compas mine in Zacatecas state.

Bradford Cooke, CEO, commented, “We are off to a good start in 2021, with the mining operations meeting our production plans notwithstanding the severe weather events that caused a slow down of production during the 1st quarter. As a result, our operating costs were a bit higher than plan but we expect costs to be lower going forward.”

“Revenue, cash flow and earnings were all sharply higher in Q1, 2021 compared to Q1, 2020. The sale of El Cubo helped boost our earnings, offset by our decisions to hold back some metal inventory from sale near the end of the 1st quarter as well as elevated general and administrative expenses.”

“The Terronera feasibility study is on track for completion in the 3rd quarter and exploration is ongoing at each of our mines and projects to test highly prospective targets. We have a busy year ahead, as our attention turns to developing our next core asset at Terronera.”

2021 First
Quarter Highlights

  • Metal Production: Produced 1,039,710 ounces (oz) silver, up 22% and 10,894 oz gold, up 31%, in line with guidance of 1.9 million oz silver equivalent (AgEq), up 26%, at an 80:1 silver:gold ratio, compared to Q1, 2020.
  • Gross Sales: Total $35.1 million, up 58%, from the sale of 623,379 oz of silver and 10,663 oz gold at average realized prices of $27.17 per oz silver and $1,703 per oz gold.  Held 523,235 oz silver and 1,123 oz gold of bullion inventory and 6,582 oz silver and 566 oz gold in concentrate inventory. Management withheld metal from sale during the price correction over last two weeks of March.
  • Operating Costs: Cash cost(1) $7.86 per oz payable silver, flat year-on-year and all-in sustaining cost (AISC)
    (1) $19.94 per oz payable silver, up 8% year-on-year, both net of gold credits.
  • Cash Flow: $5.2 million in cash flow from operations before working capital changes, up 205% compared to Q1, 2020 as the Company accumulated finished goods, invested in exploration activities and advanced the Terronera Feasibility Study.
  • Net Earnings: Earnings of $12.2 million or $0.08 per share, up sharply compared to a loss of $15.9 million in Q1, 2020 due to the reversal of the historical impairment of the El Cubo asset sold in April, offset by increased exploration activities, evaluation activities, and higher tax expense. Excluding the impairment reversal, the adjusted earnings resulted in a loss of $4.5 million. At quarter end, the finished golds inventory was carried at a cost of $8.0 million compared to the fair market value of $15.9 million.
  • Agreement to Sell the El Cubo Assets: Advanced the sale of the El Cubo assets in Guanajuato, Mexico to Vangold Mining Corp for $15 million in cash and share payments with up to $3 million in contingent payments, with the transaction closing April 9, 2021.
  • Balance Sheet: Cash position $86.0 million, up 473% and working capital $113.1 million, up 316% compared to Q1, 2020. Raised $30.1 million in equity financing through an ATM facility. Only term liabilities are equipment loans of $8.7 million, entered into in previous years to upgrade the mobile fleet.

(1) Mine
operating cash flow, cash costs and all-in sustaining costs are non-IFRS
measures. Please refer to the definitions in the Company’s Management Discussion
& Analysis.

Financial
Overview

In Q1, 2021, net revenue increased 58% to $34.5 million as a result of higher metal prices and increased production. As a result, mine operating cash flows, operating cash flows and EBITDA all increased significantly compared to Q1, 2020. The Company recognized earnings of $12.2 million compared to a loss of $15.9 million in Q1, 2020. An impairment reversal of $16.8 million was recognized as a result of the classifying the El Cubo mine and related assets and liabilities, as held for sale in relation to the April 9th sale.

Cost of sales for Q1, 2021 was $28.8 million, an increase of 16% over the cost of sales of $24.8 million for the same period of 2020. The increase in cost of sales was primarily related to significantly higher royalty costs and labour costs partially offset by improved productivity at the Guanacevi and Bolanitos operations. Royalties increased 187% to $2.5 million due to higher realized prices and the increased mining of the high grade Porvenir Cuatro extensions at the Guanacevi operation which is subject to the significantly higher royalty rates.

The Company increased its finished goods silver and gold inventory to 529,817 oz and 1,689 oz, respectively at March 31, 2021 compared to 116,484 oz silver and 1,459 oz gold at December 31, 2020. The cost allocated to these finished goods was $8.0 million at March 31, 2021, compared to $3.6 million at December 31, 2020. At March 31, 2021, the finished goods inventory fair market value was $15.9 million, compared to $5.8 million at December 31, 2020.

Financial
Results (Consolidated Statement of Operations Appended Below)

For the period ended March 31, 2021, the Company generated net revenue of $34.5 million an increase of 58% compared to $21.9 million. Gross sales of $35.1 million in Q1, 2021 represented a 57% increase over the $22.8 million for the same period in 2020. There was a 6% decrease in silver ounces sold and a 77% increase in the realized silver price resulting in a 66% increase to silver sales. There was a 43% increase in gold ounces sold with a 4% increase in realized gold prices resulting in a 49% increase in gold sales. During the period, the Company sold 623,379 oz silver and 10,663 oz gold, for realized prices of $27.17 and $1,703 per oz respectively, compared to sales of 665,500 oz silver and 7,454 oz gold, for realized prices of $15.33 and $1,633 per oz, respectively, in the same period of 2020. For the three months ended March 31, 2021, silver and gold spot prices averaged $26.26 and $1,794, respectively.  

After cost of sales of $28.8 million (Q1, 2020 – $24.8 million), mine operating earnings amounted to a $5.7 million (Q1, 2020 – loss of $2.9 million) from mining and milling operations in Mexico.

Excluding depreciation and depletion of $7.5 million (Q1, 2020 – $6.0 million), stock-based compensation of $0.1 million (Q1, 2020- $0.1 million) mine operating cash flow before taxes was $13.3 million in Q1, 2021 (Q1, 2020 – $4.3 million). Operating earnings were $14.3 million (Q1, 2020 – loss of $8.6 million) after exploration and evaluation expenditures of $4.1 million (Q1, 2020 – $2.4 million), general and administrative expense of $3.5 million (Q1, 2020 – $2.0 million) and El Cubo care and maintenance costs of $0.5 million (Q1, 2020 – $1.3 million). An impairment reversal of $16.8 million was recognized as a result of the classifying the El Cubo mine and related assets and liabilities as held for sale in relation to the April 9th sale.

Net earnings amounted to $12.2 million ($0.08 per share) compared to a net loss of $15.9 million (loss of $0.11 per share) in Q1, 2020.

Current income tax expense increased to $0.7 million (Q1, 2020 – $0.3 million) related to an increase in special mining duty, while deferred income tax expense of $3.1 million was recognized due to the estimated use of loss carry forwards to reduce taxable income at Guanacevi and Bolanitos (Q1, 2020 – $1.9 million).

Direct operating costs per tonne in Q1, 2021 increased 16%, to $112.36 compared with Q1, 2020 due to higher operating costs at Guanacevi and Bolanitos, offset by lower costs at El Compas. Guanacevi and Bolanitos have seen increased labour costs and increased third party ore purchased at Guanacevi compared to prior year. Including royalties and special mining duty, direct costs per tonne increased 24% to $126.23. Royalties increase 187% to $2.5 million as increased production from the El Curso concession at Guanacevi and higher prices substantially increased the royalty expense. The higher prices and higher grades increased special mining duty expense to $0.4 million for Q1, 2021.

Consolidated cash costs per ounce, net of by-product credits (a non-IFRS measure and a standard of the Silver Institute) was flat at $7.86 as the higher grades and higher prices offset the higher direct costs per tonne. All-in sustaining costs (also a non-IFRS measure) increased 8% to $19.84 per ounce in Q1, 2021 as a result of higher corporate general and administrative costs and increased capital expenditures at Guanacevi to accelerate mine development within the El Curso ore body. In Q1, 2020 corporate general and administrative included a $1.1 million mark to market recovery of deferred share units expense whereas the mark to market recovery was $0.2 million in Q1, 2021.
  
The Condensed Consolidated Interim Financial Statements and Management’s Discussion & Analysis can be viewed on the Company’s website at www.edrsilver.com, on SEDAR at www.sedar.com and EDGAR at www.sec.gov. All amounts are reported in US$.

Conference
Call

A conference call to discuss these results will be held today, Tuesday, May 11 at 10am PDT (1pm EDT). To participate in the conference call, please dial the numbers below. No pass-code is necessary.

Toll-free in Canada and the US: 1-800-319-4610
Local Vancouver: 604-638-5340
Outside of Canada and the US: +-604-638-5340

A replay of the conference call will be available by dialing 1-800-319-6413 in Canada and the US (toll-free) or +604-638-9010 outside of Canada and the US. The required pass-code is 6594 #. The replay will also be available on the Company’s website at www.edrsilver.com.

About
Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.  Our philosophy of corporate social integrity creates value for all stakeholders.

SOURCE Endeavour Silver Corp.

Contact Information:

Galina Meleger, Director Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Email: [email protected]  
Website: www.edrsilver.com

Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn

Cautionary
Note Regarding Forward-Looking Statements

This news
release contains “forward-looking statements” within the meaning of the United
States private securities litigation reform act of 1995 and “forward-looking
information” within the meaning of applicable Canadian securities legislation.
Such forward-looking statements and information herein include but are not
limited to statements regarding Endeavour’s anticipated performance in 2021
including changes in mining operations and production levels, the timing and
results of various activities and the impact of the COVID 19 pandemic on
operations. The Company does not intend to and does not assume any obligation
to update such forward-looking statements or information, other than as
required by applicable law.

Forward-looking
statements or information involve known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity, production
levels, performance or achievements of Endeavour and its operations to be
materially different from those expressed or implied by such statements. Such
factors include but are not limited to the ultimate impact of the COVID 19
pandemic on operations and results, changes in production and costs guidance,
national and local governments, legislation, taxation, controls, regulations
and political or economic developments in Canada and Mexico; financial risks
due to precious metals prices, operating or technical difficulties in mineral
exploration, development and mining activities; risks and hazards of mineral
exploration, development and mining; the speculative nature of mineral
exploration and development, risks in obtaining necessary licenses and permits,
and challenges to the Company’s title to properties; as well as those factors
described in the section “risk factors” contained in the Company’s most recent
form 40F/Annual Information Form filed with the S.E.C. and Canadian securities
regulatory authorities.

Forward-looking
statements are based on assumptions management believes to be reasonable,
including but not limited to: the continued operation of the Company’s mining
operations, no material adverse change in the market price of commodities,
mining operations will operate and the mining products will be completed in
accordance with management’s expectations and achieve their stated production
outcomes, and such other assumptions and factors as set out herein. Although
the Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking statements
or information, there may be other factors that cause results to be materially
different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements or information
will prove to be accurate as actual results and future events could differ
materially from those anticipated in such statements or information.
Accordingly, readers should not place undue reliance on forward-looking
statements or information.

 

QuickChek – May 11, 2021

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Seanergy Maritime Holdings Corp. Announces Delivery of Capesize M/V Hellasship and Time Charter Agreement with NYK Line

Seanergy Maritime Holdings announced today that it has taken delivery of the 181,325 dwt Capesize bulk carrier, built in 2012 by Imabari Shipbuilding Co. in Japan, which was renamed M/V Hellasship.

Research, News & Market Data on Seanergy

Watch recent presentation from NobleCon17



Palladium One Intersects 2.1 g/t Pd_Eq over 38 Meters in the Lower Zone and Expands the Upper Zone at Kaukua South, Finland

Drilling continues to intersect impressive widths and grades of Platinum Group Elements (“PGE”) including 38 meters at 2.1 g/t Palladium equivalent (“Pd_Eq”) (Hole LK21-062) in the Lower Zone at Kaukua South, on the Läntinen Koillismaa (“LK”) PGE-Ni-Cu project in Finland, said Palladium One Mining today

Research, News & Market Data on Palladium One

Watch recent Virtual Roadshow Replay



Comtech Telecommunications Corp. Awarded $2.0 Million Contract for 500W Ka-band Gateway Amplifiers

Comtech announced today that during its third quarter of fiscal 2021, its Santa Clara, California-based subsidiary, Comtech Xicom Technology, Inc., a world leader in high-power amplifiers, was awarded a $2.0 million order for state-of-the-art 500W Ka-band high power amplifiers supporting a leading high throughput satellite (“HTS”) customer.

Research, News & Market Data on Comtech

Watch recent presentation from NobleCon17



Endeavour Silver Reports Financial Results for the First Quarter 2021; Earnings Conference Call at 10am PDT (1pm EDT) Today

Endeavour Silver released its financial results today for the three months ended March 31, 2021.

Research, News & Market Data on Endeavour Silver

Watch recent presentation from NobleCon17



Information Services Group Initiates Quarterly Cash Dividend

Information Services Group announced that its Board of Directors has approved the initiation of a quarterly cash dividend to holders of ISG common stock.

Read Analyst Joe Gomes May 11 Research on III

Research, News & Market Data on Information Services Group

Watch recent presentation from NobleCon17



Information Services Group Announces First-Quarter 2021 Results

Information Services Group reported record fee revenues, profitability and cash flow for the first quarter ended March 31, 2021.

Read Analyst Joe Gomes May 11 Research on III

Research, News & Market Data on Information Services Group

Watch recent presentation from NobleCon17



Flotek Announces First Quarter 2021 Results

Flotek announced results for the first three months ended March 31, 2021.

News & Market Data on Flotek

Watch recent presentation from NobleCon17



Flotek Welcomes New Vice President of Professional Chemistries

Flotek announced that Matthew P. Sullivan has joined the Company as Vice President of Professional Chemistries. In this role, he will oversee the Company’s business development strategy and implementation for Flotek’s cleaning, disinfecting and sanitizing product line.

News & Market Data on Flotek

Watch recent presentation from NobleCon17

Release – Comtech Telecommunications Corp. Awarded $2.0 Million Contract for 500W Ka-band Gateway Amplifiers

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Comtech Telecommunications Corp. Awarded $2.0 Million Contract for 500W Ka-band Gateway Amplifiers

MELVILLE, N.Y.–(BUSINESS WIRE)–May 11, 2021– 
May 11, 2021— 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a world leader in secure wireless communications technologies, announced today, that during its third quarter of fiscal 2021, its 
Santa Clara, California-based subsidiary, 
Comtech Xicom Technology, Inc., a world leader in high-power amplifiers, was awarded a 
$2.0 million order for state-of-the-art 500W Ka-band high power amplifiers supporting a leading high throughput satellite (“HTS”) customer.

The HTS market provides broadband internet service to geographic regions that are under-served by terrestrial networks. HTS systems are very high capacity, offering bandwidth and pricing competitive with more conventional terrestrial offerings, regardless of the customers’ location. These systems serve consumer, small business, enterprise and government customers.

“Reliable and affordable broadband internet service is essential in today’s world. People who live and work in rural areas have the same needs as urban users for a high-quality on-line experience. HTS networks are an ideal way for rural customers to stay connected,” said  Fred Kornberg , Chairman of the Board and Chief Executive Officer of 
Comtech Telecommunications Corp. “Comtech’s 500W amplifiers are at the heart of HTS gateway earth stations. We have been supplying the HTS community with 500W Ka-band amplifiers since 2009, and they feature high linear power, superior phase noise, and offer great reliability.”

Comtech Xicom Technology, Inc., a world leader in high-power amplifiers, manufactures a wide variety of tube-based and solid-state power amplifiers for military and commercial satellite uplink applications. The product range encompasses power levels from 8 W to 3 kW, with frequency coverage in sub-bands within the 2 GHz to 52 GHz spectrum. Amplifiers are available for fixed and ground-based, shipboard, and airborne mobile applications. Please visit www.xicomtech.com for more information.

Comtech Telecommunications Corp. is a leader in the global communications market headquartered in 
Melville, New York. With a passion for customer success, 
Comtech designs, produces and markets advanced secure wireless solutions to more than 1,000 customers in more than 100 countries. For more information, please visit www.comtechtel.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s 
Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such 
Securities and Exchange Commission filings.

PCMTL

Product Media Contact: Eric Schmidt, Vice President, Sales

Comtech Xicom Technology, Inc.
408-391-6534
[email protected]

Corporate Contact: Michael D. Porcelain, President and Chief Operating Officer
Comtech Telecommunications Corp.
631-962-7000
[email protected]

Source: 
Comtech Telecommunications Corp.

Artificial Intelligence Investment Opportunities

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image credit: Deepak Pal (iqlect.com)


Preparing Investors for the Artificial Intelligence Revolution

Since the first use of the lever, the invention of the wheel, and the combustion engine that led to the industrial revolution, machines have been used to make work easier. As long as humans improved production, safety, or leisure time from machine use, there remained an increasing need. However, there has always been a need for an operator. Be it a driver behind the wheel, a technician, or a person behind the computer. This is changing, the next wave of machines are evolving, and they will again be adopted in every aspect of human life.

Getting
Ready for the AI Revolution

Artificial Intelligence systems (AI) will soon be improving lives at a level once found only in science fiction. These are autonomous machines/systems that do not need the help of an operator. This is ushering in a new age, the age of AI. With all the benefits that are gained from using them. Many long-range investors view investing in companies using Artificial Intelligence as a no-brainer.

Current
Uses of AI

Some uses of AI range from driverless cars, manufacturing machines, speech recognition, image recognition, and deep learning. Deep learning is a machine learning method for training computers to recognize objects and patterns just like humans. For example, it can be used to train computers to recognize images or sound to improve search engines or identify people and voices for security systems.

Autonomous/driverless cars are the next big thing in the automotive industry, with many car companies in the race to produce the first fully autonomous car. There are also companies using AI to predict when vehicles need repair; this would reduce downtime and unnecessary costs. The companies using AI or advancing the use of AI are more efficient and improve their bottom line as their costs are generally lower and their processes more precise, making them needed to stay competitive.

The
Future

With the huge potential of AI machines, many companies, large and small, are now involved in advancing machines to higher and higher levels of utility. There is so much potential in AI that new uses are being discovered every day. Below is an intelligent list of smaller companies that have caught the imagination of investors as their projects and products are shaping the adoption and development of AI.

One Stop
Systems, Inc. (OSS) provides what they call “AI on the Fly.”  AI on the Fly delivers high-performance computing platforms and the building blocks that capture and store data securely and quickly and then transform the data into actionable intelligence. OSS products enable computation and deep learning outside the stable climate-controlled office or laboratory and out in the world and on-site. OSS is currently trading at around $4.87, a 21.75% increase from the beginning of the year.

Garrett
Motion, Inc. (GTX) provides cutting-edge automotive solutions like turbocharging, automotive software solutions, and electric boosting. Through its software solutions, they provide an early warning system that predicts when the vehicle needs maintenance which reduces unplanned downtime and fleet breakdowns. With its share price trading at $5.97, up by 34.8%, it is a great Artificial Intelligence company to invest in.

Innodata,
Inc. (INOD) helps companies solve their toughest data engineering challenges using AI. They help you annotate, transform, curate, and intelligently automate your data. INOD works with companies in information-intensive industries like defense, aerospace, manufacturing, and healthcare. Their share price currently at $6.34, a 19.9% increase from the beginning of the year, making it a great investment option.

Talend, SA
(TLND) provides a tool for data integration, especially for big data in the cloud. Through its product, it helps organizations operationalize predictive models on a large scale for a variety of uses, such as fraud detection or improving customer experience. They are faring quite well with their share price currently at $64.78, up by 69% from the beginning of the year

MicroStrategy,
Inc. (MSTR) is the world’s largest business intelligence company providing analytics for businesses using machine learning technology. It uses big data from a variety of sources to perform analytics to make predictive analytics. The share price currently at $569.46, up by 46.6 from the beginning of the year

Take-Away

With a growing list of innovative companies developing products to make current machines more autonomous, and the adoption by companies both in production and to make their products more efficient, the future belongs to AI-driven machines. Searching for tech companies involved in Artificial Intelligence as a potential allocation as longer-term portfolio holding, perhaps even finding the “next Apple” is worthwhile. The time is ripe for AI. Channelchek is a good place to start to look at smaller companies involved in AI and perhaps find one that changes the world.

Suggested Reading

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Release – Palladium One Intersects 2.1 g/t Pd_Eq over 38 Meters in the Lower Zone and Expands the Upper Zone at Kaukua South, Finland

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Palladium One Intersects 2.1 g/t Pd_Eq over 38 Meters in the Lower Zone and Expands the Upper Zone at Kaukua South, Finland

May 11, 2021 – Toronto,
Ontario – Drilling continues to intersect impressive widths and grades of Platinum Group Elements (“PGE”) including 
38 meters at 2.1 g/t Palladium equivalent (“Pd_Eq”) (Hole LK21-062) in the Lower Zone at Kaukua South, on the Läntinen Koillismaa (“LK”) PGE-Ni-Cu project in Finland, said Palladium One Mining Inc. (“Palladium One” or the “Company”) (TSXV: PDM, FRA: 7N11, OTC: NKORF) today. Drilling has also expanded the strike length of the Upper Zone having intersected robust mineralization which returned 51 meters @ 0.9 g/t Pd_Eq (Hole LK21-064).

46 holes (9,469 metres) have been drilled as part of the 17,500-meter Phase II Resource Definition drill program at Kaukua South, including today’s results 34 have been released, while results for 12 holes await assays. Additionally, assay results are pending for 12 drill holes at the Haukiaho Zone, where the Company completed infill drilling in advance of a NI43-101 resource estimate. Drilling is currently in hiatus for the spring thaw and is schedule to resume in later May.

When drilling resumes the intent is to target open pit resource definition of the Lower mineralized zone (down to 300 meters) on the western side of Kaukua South, and to extend mineralization immediately south of the existing Kaukua NI43-101 Open Pit constrained resource estimate.

“Our understanding of an Upper Zone of mineralization continues to expand and so does our realization that it could add a significant amount of resources to the planned NI43-101 resource estimate.

The Upper Zone lies in the hanging wall of the high-grade Lower Zone which has been the primary focus of the Phase II drill program.

The Upper Zone’s position could have a significant positive economic influence on the any future open pit scenario; and as evidenced by hole LK21-064 it can locally carry substantial grades.” said Derrick Weyrauch, President and CEO.

Highlights

  • Results to date are highly encouraging and show a clear path toward a
    maiden open pit resource at Kaukua South.
  • Drilling demonstrates 
    significant continuity of open pit grades and widths
    in both the Upper and Lower Zones     at Kaukua South.
  • 2.06
    g/t Pd_Eq over 37.9 meters     in hole LK21-062 (Lower Zone)
  • 1.22
    g/t Pd_Eq over 70.5 meters     in hole LK21-064 (Lower Zone)
  • 0.92
    g/t Pd_Eq over 50.6 meters     in hole LK21-064 (Upper Zone)
  • Drilling in Kaukua south has consistently returned grades and widths, over 2 kilometers of strike length, similar to those in the Kaukua NI43-101 Open Pit constrained resource estimated immediately to the northwest.

Kaukua South Infill
Drilling
Kaukua South infill drilling continues to demonstrate consistent open
pit grades and widths. A total of 34 holes from the Phase II infill drill program on Kaukua South have now been released with intersections such as 47
meters at 2.6 g.t Pd_Eq in hole LK21-045 (see press release March 18, 2021) and 53 meters at 2.1
g/t Pd_Eq*, in hole LK20-028 (see press release January 18, 2021).

Kaukua South Upper
Mineralized Zone
Kaukua South consists of two subparallel mineralized zones, the very continuous Lower Zone near the base of the Intrusion, which is very similar to the Kaukua deposit with high PGE tenors, has been the main focus of the current drill program. The Upper Zone occurs in the hanging wall of the Lower Zone and is characterised by higher Cu-Ni values and lower PGEs (Table 1). The Upper Zone is typically more sporadic than the Lower Zone but can exhibit great widths such as seen in hole LK21-064 which returned 50.6
meters grading 0.92 g/t Pd-Eq (Figure 2). It’s position in the hanging wall relative to the Lower Zone is key and has significant positive
implications for the open pit potential of Kaukua South as it could 
reduce the strip ratio and allow the pit to
extend to greater depths than originally contemplated and thereby improve project economics. As such, the Company is planning to define the Lower Zone down to a 300-meters depth in areas with strong Upper Zone mineralization (Figure 1.).

Figure 1. Western Kaukua South plan map, showing current NI 43-101 Kaukua Deposit conceptual pit outline (dashed yellow), IP chargeability anomalies, and Palladium One drill hole locations. Holes labels in red form part of this release.

Figure 2. Cross Sections A, B, C and D showing in Figure 1. Illustrating the Upper and Lower Zones in Kaukua South. Holes from this release are labelled in red.

Table 1: Phase II infill
drill results on Kaukua South released herein

* Reported widths are “drilled widths” not true widths.

*Palladium Equivalent
Palladium equivalent is calculated using US$1,100 per ounce for palladium, US$950 per ounce for platinum, US$1,300 per ounce for gold, US$6,614 per tonne for copper, and US$15,4332 per tonne for nickel. This calculation is consistent with the calculation in the Company’s September 2019 NI 43-101 Kaukua resource estimate. Additionally, US$1,100 per ounce for palladium is consistent with the UBS January 2021 long-term consensus price forecast even though the current price of palladium is approximately US$3,000 per ounce.

QA/QC
The Phase I drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company.

Drill core samples were split using a rock saw by Company staff, with half retained in the core box and stored indoors in a secure facility, in Taivalkoski, Finland. The drill core samples were transported by courier from the Company’s core handling facility in Taivalkoski, Finland, to ALS Global (“ALS”) laboratory in Outokumpu, Finland. ALS, is an accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). PGE analysis was performed using a 30 grams fire assay with an ICP-MS or ICP-AES finish. Multi-element analyses, including copper and nickel were analysed by four acid digestion using 0.25 grams with an ICP-AES finish.

Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. Results are analyzed for acceptance at the time of import. All standards associated with the results in this press release were determined to be acceptable within the defined limits of the standard used

Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.

About Palladium One
Palladium One Mining Inc. is an exploration company targeting district scale, platinum-group-element (PGE)-copper nickel deposits in Finland and Canada. Its flagship project is the Läntinen Koillismaa or LK Project, a palladium dominant platinum group element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 kilometers of favorable basal contact and building on an established NI 43-101 open pit resource.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director

For further information
contact: Derrick Weyrauch, President & CEO
Email: [email protected]

Neither the TSX Venture
Exchange nor its Market Regulator (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.

This press release includes
“forward-looking information” that is subject to a few assumptions,
risks and uncertainties, many of which are beyond the control of the Company.
Statements regarding listing of the Company’s common shares on the TSXV are
subject to all of the risks and uncertainties normally incident to such events.
Investors are cautioned that any such statements are not guarantees of future
events and that actual events or developments may differ materially from those
projected in the forward-looking statements. Such forward-looking statements
represent management’s best judgment based on information currently available.
Factors that could cause the actual results to differ materially from those in
forward-looking statements include regulatory actions and general business
conditions. Such forward-looking information reflects the Company’s views with
respect to future events and is subject to risks, uncertainties and
assumptions, including those set out in the Company’s annual information form
dated April 29, 2020 and filed under the Company’s profile on SEDAR at
www.sedar.com. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law.
Investors are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from those
projected in the forward-looking statements.

Release – Seanergy Maritime Holdings Corp. Announces Delivery of Capesize M-V Hellasship and Time Charter Agreement with NYK Line

Posted on by Admin


Seanergy Maritime Holdings Corp. Announces Delivery of Capesize M/V Hellasship and Time Charter Agreement with NYK Line

May 6, 2021
– Glyfada, Greece – Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today that it has taken delivery of the 181,325 dwt Capesize bulk carrier, built in 2012 by Imabari Shipbuilding Co. in Japan, which was renamed M/V
Hellasship (the “Vessel”). The delivery of the M/V Hellasship is the first of the four Capesize acquisitions performed already in 2021.  

The Vessel has been fixed on a time charter (“T/C”) with NYK Line, a leading Japanese shipping company and operator. The T/C is expected to commence immediately, upon finalization of the customary transition process and will have a term of minimum 11 to maximum 15 months from the delivery. The gross daily rate of the T/C is based at a premium over the Baltic Capesize Index (“BCI”).  

Stamatis
Tsantanis, the Company’s Chairman & Chief Executive Officer, stated: 

“We are pleased to announce the well-timed delivery of our twelfth cape vessel, during the strongest Capesize market of the last decade with spot rates standing currently above $42,000 per day. This delivery is the first of the four acquisitions we agreed so far in 2021, before the impressive surge in freight day rates and asset values. Needless to say, that our timing has been once again optimal.  

“At the same time, we are glad to initiate a long-term commercial partnership with another leading charterer through M/V Hellasship’ s period employment. The relationships we have established with first class charterers in the Capesize space attest to the operational quality of our fleet and management platforms. 

“Currently, 92% percent of our fleet is employed under index-linked time charters allowing Seanergy’ s earnings to be highly correlated with the performance of the Capesize index. We believe that Seanergy, as a pure-play Capesize owner, is best positioned to fully benefit from the strong earnings environment and increasing asset values.”   

Company
Fleet upon Vessels’ delivery: 

Vessel Name 

Vessel Class 

Capacity (DWT) 

Year Built 

Yard 

Employment 

Partnership  

Capesize 

179,213 

2012 

Hyundai 

T/C Index Linked  

Championship  

Capesize 

179,238 

2011 

Sungdong 

T/C Index Linked  

Lordship  

Capesize 

178,838 

2010 

Hyundai 

T/C Index Linked  

Premiership 

Capesize 

170,024 

2010 

Sungdong 

T/C Index Linked  

Squireship 

Capesize 

170,018 

2010 

Sungdong 

T/C Index Linked  

Knightship 

Capesize 

178,978 

2010 

Hyundai  

T/C Index Linked  

Gloriuship 

Capesize 

171,314 

2004 

Hyundai 

T/C Index Linked  

Fellowship 

Capesize 

179,701 

2010 

Daewoo 

T/C Index Linked 

Geniuship 

Capesize 

170,058 

2010 

Sungdong 

T/C Index Linked 

Hellasship 

Capesize 

181,325 

2012 

Imabari  

T/C Index Linked 

Goodship 

Capesize 

177,536 

2005 

Mitsui Engineering 

T/C Index Linked 

Leadership 

Capesize 

171,199 

2001 

Koyo – Imabari 

Voyage/Spot 

Tradership* 

Capesize 

176,925 

2006 

Japanese Shipyard 

N/A 

Flagship** 

Capesize 

176,387 

2013 

Japanese Shipyard 

N/A 

Patriotship* 

Capesize 

181,709 

2010 

Japanese Shipyard 

N/A 

Total / Average age 

2,642,463 

 11.9 

 

*delivery expected by mid-June 
**delivering promptly  

About
Seanergy Maritime Holdings Corp. 

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. Upon delivery of vessels which the Company has recently agreed to acquire, the Company’s operating fleet will consist of 15 Capesize vessels with an average age of 11.9 years and aggregate cargo carrying capacity of approximately 2,642,463 dwt. 

The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP,” its Class A warrants under “SHIPW” and its Class B warrants under “SHIPZ.” 

Please visit our company website at: www.seanergymaritime.com. 

Forward-Looking Statements  

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. 

For further
information please contact:  

Seanergy Investor Relations 
Tel: +30 213 0181 522 

E-mail: [email protected]   

Capital Link, Inc. 
Daniela Guerrero 
230 Park Avenue Suite 1536 

New York, NY 10169 
Tel: (212) 661-7566 
E-mail: [email protected]