CoreCivic Reports First Quarter 2021 Financial Results

 

BRENTWOOD, Tenn., May 05, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today its financial results for the first quarter of 2021.

Financial Highlights – First Quarter 2021

• Total revenue of $454.7 million
  • CoreCivic Safety revenue of $409.8 million
  • CoreCivic Community revenue of $23.7 million
  • CoreCivic Properties revenue of $21.3 million
• Special items include income tax expense of $114.2 million primarily associated with change in corporate tax structure and $51.7 million for a shareholder litigation settlement
• Net loss attributable to common stockholders of $125.6 million
• Diluted loss per share of $1.05
• Adjusted diluted EPS of $0.24
• Normalized FFO per diluted share of $0.44
• Adjusted EBITDA of $96.3 million

Damon T. Hininger, CoreCivic’s President and Chief Executive Officer, said, “While our GAAP financial results were impacted by certain non-recurring charges related to our conversion from a REIT to a taxable C-corporation and a shareholder litigation settlement, we are pleased with the strong underlying performance of the business despite the challenges of operating during the COVID-19 pandemic. We continue to generate strong cash flows and remain focused on repaying debt to improve our credit profile. Following the revocation of our REIT status, in April we were able to successfully access the credit markets to extend our debt maturities by issuing unsecured senior notes.”

We are dedicated to helping those in our care be successful in their next step in life. Every day, our chaplains, counselors and instructors help nearly 1,500 inmates learn the life and vocational skills they need to find and keep employment once released. Every year, our dedicated teachers help more than 1,500 inmates earn a GED, which research shows makes them 30% less likely to return to prison after they’re released. We help our government partners solve some of their toughest challenges by providing flexibility to manage constantly changing needs and populations and delivering on proven reentry programs that fight recidivism and change lives.

First Quarter 2021 Financial Results Compared With First Quarter 2020

Net loss attributable to common stockholders in the first quarter of 2021 totaled $125.6 million, or $1.05 per diluted share, and was driven by $154.8 million, or $1.29 per share, of special items, compared with net income attributable to common stockholders generated in the first quarter of 2020 of $32.1 million, or $0.27 per diluted share. Adjusted for special items, net income in the first quarter of 2021 was $29.3 million, or $0.24 per diluted share (Adjusted Diluted EPS), compared with adjusted net income in the first quarter of 2020 of $37.2 million, or $0.30 per diluted share. Special items in the first quarter of 2021 included a non-recurring charge of $114.2 million in income taxes primarily associated with change in corporate tax structure, $51.7 million in shareholder litigation expense, $1.6 million in expenses associated with COVID-19, $1.3 million in asset impairments, less $14.1 million of income tax benefits for the aforementioned special items. Special items in the first quarter of 2020 included $3.1 million of deferred tax expenses related to our Kansas lease structure, $0.5 million in asset impairments, and $0.3 million of expenses associated with mergers and acquisitions.

Funds From Operations (FFO) was a loss of $100.9 million, or $0.83 per diluted share, in the first quarter of 2021, compared to $61.7 million, or $0.51 per diluted share, in the first quarter of 2020. Normalized FFO, which excludes the special items described above, was $53.0 million, or $0.44 per diluted share, in the first quarter of 2021, compared with $65.3 million, or $0.54 per diluted share, in the first quarter of 2020.

EBITDA was $41.6 million in the first quarter of 2021, compared with $99.5 million in the first quarter of 2020. Adjusted EBITDA, which excludes the special items described above, was $96.3 million in the first quarter of 2021, compared with $100.4 million in the first quarter of 2020, including a decrease of $2.3 million resulting from the sale of 42 properties sold in the fourth quarter of 2020.   

Adjusted financial results in the first quarter of 2021, compared with the first quarter of 2020, declined primarily because 2021 financial results reflect an income tax provision under our new corporate tax structure, compared with the prior year when we were entitled to a deduction for dividends paid as a real estate investment trust (REIT). As a REIT, therefore, we incurred very little income tax expense. Financial results in 2021 also reflected lower utilization under contracts with Immigration and Customs Enforcement (ICE) and modest occupancy declines across many of our state-level contracts due to the ongoing impact of COVID-19.

Issuance of Senior Unsecured Notes

On April 14, 2021, we completed the offering of $450.0 million aggregate principal amount of 8.25% senior unsecured notes, due April 2026 (the new notes). The new notes priced at 99% of face value and as a result have an effective yield to maturity of 8.5%. We used net proceeds from the offering of the new notes of approximately $435.1 million, after deducting the original issuance, underwriting discounts, and estimated offering expenses, to redeem all $250.0 million principal amount of our outstanding 5.0% senior unsecured notes due 2022, which have been called for redemption on May 14, 2021 by a redemption notice issued on April 14, 2021, including the payment of the applicable make-whole amount and accrued interest. We used additional net proceeds from the offering to repay $149.0 million of the $350.0 million principal amount of our outstanding 4.625% senior unsecured notes due 2023 (the 2023 notes) at an aggregate purchase price of $151.2 million in privately negotiated transactions, reducing the outstanding balance of the 2023 notes to $201.0 million. The remaining net proceeds from the offering were used to pay-down a portion of the amounts outstanding under our revolving credit facility and for general corporate purposes.

Business Development Update

Update on Contracts with the United States Marshals Service.
Pursuant to President Biden’s Executive Order on Reforming Our Incarceration System to Eliminate the Use of Privately Operated Criminal Detention Facilities, or the Private Prison EO, the U.S. Marshals Service (“USMS”) has indicated that it has been advised by the Office of the Deputy Attorney General not to renew existing contracts, or enter into new contracts for private detention facilities. We currently have four contracts with the USMS that expire in 2021. The USMS has notified the Company that it will not be renewing its contract for our Northeast Ohio Correctional Center, which expires May 30, 2021. We continue to explore opportunities with various government agencies, including the state of Ohio, the primary user of the Northeast Ohio facility, to replace the capacity currently used by the USMS.   

In addition to the contract with the USMS for our Northeast Ohio Correctional Center, the USMS has full access to our 600-bed West Tennessee Detention Facility and our 1,033-bed Leavenworth Detention Center under direct contracts with the USMS that expire in September 2021 and December 2021, respectively. The USMS also utilizes less than 100 of the 664 beds at our Crossroads Correctional Center under a contract that was scheduled to expire in April 2021, but was extended through June 30, 2021, and is not expected to be renewed thereafter. We currently expect the USMS to relocate detainees at the Crossroads Correctional Center. The state of Montana, which utilizes the remaining capacity at the Crossroads facility, has expressed a desire to utilize the beds used by the USMS at the facility, and we currently expect to incorporate their utilization into a contract renewal that begins July 1, 2021, negating the financial impact of the USMS vacancy. We do not yet know if the USMS will relocate the detainees at our West Tennessee and Leavenworth facilities. We continue to work with the USMS to enable it to fulfill its mission, including at the Northeast Ohio, West Tennessee, and Leavenworth facilities. However, we can provide no assurance that we will be able to provide a solution that is acceptable to all parties that would be involved in such a solution.

Financial Guidance

At this time we are not providing 2021 financial guidance because of uncertainties associated with COVID-19, as well as uncertainties associated with the application of the administration’s various executive actions and policies related to immigration and criminal justice. We do not expect to provide financial guidance until we have further clarity around these uncertainties. Our business is very durable, and continues to generate cash flow even during these unprecedented disruptions to the economy and criminal justice system. This resiliency is due to the essential nature of our facilities and services in our Safety and Community segments, further enhanced by the stability of our Properties segment, all supported by payments from highly rated federal, state, and local government agencies.  

Supplemental Financial Information and Investor Presentations

We have made available on our website supplemental financial information and other data for the first quarter of 2021.   Interested parties may access this information through our website at http://ir.corecivic.com/ under “Financial Information” of the Investors section.   We do not undertake any obligation, and disclaim any duties to update any of the information disclosed in this report.  

Management may meet with investors from time to time during the second quarter of 2021.  Written materials used in the investor presentations will also be available on our website beginning on or about May 17, 2021.  Interested parties may access this information through our website at http://ir.corecivic.com/ under “Events & Presentations” of the Investors section.

Conference Call, Webcast and Replay Information

We will host a webcast conference call at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, May 6, 2021, and will be accessible through the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page. The live broadcast can also be accessed by dialing 800-367-2403 in the U.S. and Canada, including the confirmation passcode 7487376. An online replay of the call will be archived on our website promptly following the conference call. In addition, there will be a telephonic replay available beginning at 1:00 p.m. central time (2:00 p.m. eastern time) on May 6, 2021, through 1:00 p.m. central time (2:00 p.m. eastern time) on May 14, 2021. To access the telephonic replay, dial 888-203-1112 in the U.S. and Canada. International callers may dial +1 719-457-0820 and enter passcode 8097453.

About CoreCivic

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Forward-Looking Statements

This press release contains statements as to our beliefs and expectations of the outcome of future events that are “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include, but are not limited to, the risks and uncertainties associated with: (i) changes in government policy (including the United States Department of Justice, or DOJ, not renewing contracts as a result of the Private Prison EO) (two agencies of the DOJ, the United States Federal Bureau of Prisons and the USMS utilize our services), legislation and regulations that affect utilization of the private sector for corrections, detention, and residential reentry services, in general, or our business, in particular, including, but not limited to, the continued utilization of our correctional and detention facilities by the federal government, and the impact of any changes to immigration reform and sentencing laws (our company does not, under longstanding policy, lobby for or against policies or legislation that would determine the basis for, or duration of, an individual’s incarceration or detention); (ii) our ability to obtain and maintain correctional, detention, and residential reentry facility management contracts because of reasons including, but not limited to, sufficient governmental appropriations, contract compliance, negative publicity and effects of inmate disturbances; (iii) changes in the privatization of the corrections and detention industry, the acceptance of our services, the timing of the opening of new facilities and the commencement of new management contracts (including the extent and pace at which new contracts are utilized), as well as our ability to utilize available beds; (iv) general economic and market conditions, including, but not limited to, the impact governmental budgets can have on our contract renewals and renegotiations, per diem rates, and occupancy; (v) fluctuations in our operating results because of, among other things, changes in occupancy levels, competition, contract renegotiations or terminations, increases in costs of operations, fluctuations in interest rates and risks of operations; (vi) the duration of the federal government’s denial of entry at the United States southern border to asylum-seekers and anyone crossing the southern border without proper documentation or authority in an effort to contain the spread of COVID-19; (vii) government and staff responses to staff or residents testing positive for COVID-19 within public and private correctional, detention and reentry facilities, including the facilities we operate; (viii)  restrictions associated with COVID-19 that disrupt the criminal justice system, along with government policies on prosecutions and newly ordered legal restrictions that affect the number of people placed in correctional, detention, and reentry facilities; (ix) whether revoking our REIT election, effective January 1, 2021, and our revised capital allocation strategy can be implemented in a cost effective manner that provides the expected benefits, including facilitating our planned debt reduction initiative and planned return of capital to shareholders; (x) our ability to identify and consummate the sale of additional non-core assets at attractive prices; (xi) our ability to successfully identify and consummate future development and acquisition opportunities and our ability to successfully integrate the operations of our completed acquisitions and realize projected returns resulting therefrom; (xii) increases in costs to develop or expand real estate properties that exceed original estimates, or the inability to complete such projects on schedule as a result of various factors, many of which are beyond our control, such as the effects of, and delays caused by, COVID-19, weather, the availability of labor and materials, labor conditions, delays in obtaining legal approvals, unforeseen engineering, archeological or environmental problems, and cost inflation, resulting in increased construction costs; (xiii) our ability to identify and initiate service opportunities that were unavailable under our former REIT structure; (xiv) our ability to have met and maintained qualification for taxation as a REIT for the years we elected REIT status; and (xv) the availability of debt and equity financing on terms that are favorable to us, or at all, including financing we are pursuing on behalf of the state of Alabama for the construction of two correctional facilities. Other factors that could cause operating and financial results to differ are described in the filings we make from time to time with the Securities and Exchange Commission.

CoreCivic takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.

CORECIVIC, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(UNAUDITED AND AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

ASSETS		March 31, 2021				December 31, 2020
Cash and cash equivalents		$	168,141			$	113,219
Restricted cash			16,413				23,549
Accounts receivable, net of credit loss reserve of $6,105 and $6,103, respectively			259,620				267,705
Prepaid expenses and other current assets			27,681				33,243
Assets held for sale			281,523				279,406
Total current assets			753,378				717,122
Real estate and related assets:
Property and equipment, net of accumulated depreciation of $1,572,711 and $1,559,388, respectively			2,333,340				2,350,272
Other real estate assets			225,341				228,243
Goodwill			5,902				5,902
Non-current deferred tax assets			–				11,113
Other assets			395,843				396,663
Total assets		$	3,713,804			$	3,709,315
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued expenses		$	346,494			$	274,318
Current portion of long-term debt			38,914				39,087
Total current liabilities			385,408				313,405
Long-term debt, net			1,719,115				1,747,664
Deferred revenue			22,804				18,336
Non-current deferred tax liabilities			85,356				–
Other liabilities			210,886				216,468
Total liabilities			2,423,569				2,295,873
Commitments and contingencies
Preferred stock ? $0.01 par value; 50,000 shares authorized; none issued and outstanding at March 31, 2021, and December 31, 2020, respectively			–				–
Common stock ? $0.01 par value; 300,000 shares authorized; 120,277 and 119,638 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively			1,203				1,196
Additional paid-in capital			1,838,066				1,835,494
Accumulated deficit			(572,305	)			(446,519	)
Total stockholders’ equity			1,266,964				1,390,171
Non-controlling interest – operating partnership			23,271				23,271
Total equity			1,290,235				1,413,442
Total liabilities and equity		$	3,713,804			$	3,709,315

CORECIVIC, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED AND AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

		For the Three Months Ended March 31,
			2021				2020
REVENUES:
Safety		$	409,769			$	437,765
Community			23,658				30,599
Properties			21,255				22,679
Other			36				58
			454,718				491,101
EXPENSES:
Operating
Safety			305,427				330,737
Community			21,100				24,449
Properties			6,274				6,954
Other			83				175
Total operating expenses			332,884				362,315
General and administrative			29,530				31,279
Depreciation and amortization			32,712				37,952
Shareholder litigation expense			51,745				–
Asset impairments			1,308				536
			448,179				432,082
OPERATING INCOME			6,539				59,019
OTHER (INCOME) EXPENSE:
Interest expense, net			18,428				22,538
Other (income) expense			148				(533	)
			18,576				22,005
INCOME (LOSS) BEFORE INCOME TAXES			(12,037	)			37,014
Income tax expense			(113,531	)			(3,776	)
NET INCOME (LOSS)		$	(125,568	)		$	33,238
Net income attributable to non-controlling interest			–				(1,181	)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS		$	(125,568	)		$	32,057
BASIC EARNINGS (LOSS) PER SHARE		$	(1.05	)		$	0.27
DILUTED EARNINGS (LOSS) PER SHARE		$	(1.05	)		$	0.27

CORECIVIC, INC. AND SUBSIDIARIES
SUPPLEMENTAL FINANCIAL INFORMATION
(UNAUDITED AND AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

CALCULATION OF ADJUSTED NET INCOME AND ADJUSTED DILUTED EPS

	For the Three Months Ended March 31,
		2021				2020
Net income (loss) attributable to common stockholders	$	(125,568	)		$	32,057
Non-controlling interest		–				1,181
Diluted net income (loss) attributable to common stockholders	$	(125,568	)		$	33,238
Special items:
Expenses associated with mergers and acquisitions		–				338
Expenses associated with COVID-19		1,598				–
Income taxes associated with change in corporate tax structure and other special tax items		114,249				3,085
Shareholder litigation expense		51,745				–
Asset impairments		1,308				536
Income tax benefit for special items		(14,060	)			–
Adjusted net income	$	29,272			$	37,197
Weighted average common shares outstanding – basic		119,909				119,336
Effect of dilutive securities:
Stock options		–				–
Restricted stock-based awards		115				47
Non-controlling interest – operating partnership units		1,342				1,342
Weighted average shares and assumed conversions – diluted		121,366				120,725
Adjusted Earnings Per Diluted Share	$	0.24			$	0.30

CORECIVIC, INC. AND SUBSIDIARIES
SUPPLEMENTAL FINANCIAL INFORMATION
(UNAUDITED AND AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

CALCULATION OF FUNDS FROM OPERATIONS AND NORMALIZED FUNDS FROM OPERATIONS

	For the Three Months Ended March 31,
		2021				2020
Net income (loss)	$	(125,568	)		$	33,238
Depreciation and amortization of real estate assets		23,759				28,106
Impairment of real estate assets		1,308				405
Income tax benefit for special items		(350	)			–
Funds From Operations	$	(100,851	)		$	61,749
Expenses associated with mergers and acquisitions		–				338
Expenses associated with COVID-19		1,598				–
Income taxes associated with change in corporate tax structure and other special tax items		114,249				3,085
Shareholder litigation expense		51,745				–
Goodwill and other impairments		–				131
Income tax benefit for special items		(13,710	)			–
Normalized Funds From Operations	$	53,031			$	65,303
Funds From Operations Per Diluted Share	$	(0.83	)		$	0.51
Normalized Funds From Operations Per Diluted Share	$	0.44			$	0.54

CORECIVIC, INC. AND SUBSIDIARIES
SUPPLEMENTAL FINANCIAL INFORMATION
(UNAUDITED AND AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

CALCULATION OF EBITDA AND ADJUSTED EBITDA

	For the Three Months Ended March 31,
		2021				2020
Net income (loss)	$	(125,568	)		$	33,238
Interest expense		20,925				24,555
Depreciation and amortization		32,712				37,952
Income tax expense		113,531				3,776
EBITDA	$	41,600			$	99,521
Expenses associated with mergers and acquisitions		–				338
Expenses associated with COVID-19		1,598				–
Shareholder litigation expense		51,745				–
Asset impairments		1,308				536
Adjusted EBITDA	$	96,251			$	100,395

NOTE TO SUPPLEMENTAL FINANCIAL INFORMATION

Adjusted Net Income, EBITDA, Adjusted EBITDA, FFO, and Normalized FFO, and, where appropriate, their corresponding per share metrics are non-GAAP financial measures. The Company believes that these measures are important operating measures that supplement discussion and analysis of the Company’s results of operations and are used to review and assess operating performance of the Company and its properties and their management teams. The Company believes that it is useful to provide investors, lenders and security analysts disclosures of its results of operations on the same basis that is used by management.   FFO, in particular, is a widely accepted non-GAAP supplemental measure of performance of real estate companies, grounded in the standards for FFO established by the National Association of Real Estate Investment Trusts (NAREIT).

NAREIT defines FFO as net income computed in accordance with GAAP, excluding gains (or losses) from sales of property and extraordinary items, plus depreciation and amortization of real estate and impairment of depreciable real estate and after adjustments for unconsolidated partnerships and joint ventures calculated to reflect funds from operations on the same basis.   EBITDA, Adjusted EBITDA, and Normalized FFO are useful as supplemental measures of performance of the Company’s properties because such measures do not take into account depreciation and amortization, or with respect to EBITDA, the impact of the Company’s tax provisions and financing strategies. Because the historical cost accounting convention used for real estate assets requires depreciation (except on land), this accounting presentation assumes that the value of real estate assets diminishes at a level rate over time.   Because of the unique structure, design and use of the Company’s properties, management believes that assessing performance of the Company’s properties without the impact of depreciation or amortization is useful. The Company may make adjustments to FFO from time to time for certain other income and expenses that it considers non-recurring, infrequent or unusual, even though such items may require cash settlement, because such items do not reflect a necessary or ordinary component of the ongoing operations of the Company.   Normalized FFO excludes the effects of such items. The Company calculates Adjusted Net Income by adding to GAAP Net Income expenses associated with the Company’s debt refinancing, M&A activity, and certain impairments and other charges that the Company believes are unusual or non-recurring to provide an alternative measure of comparing operating performance for the periods presented. Even though expenses associated with mergers and acquisitions may be recurring, the magnitude and timing fluctuate based on the timing and scope of M&A activity, and therefore, such expenses, which are not a necessary component of the ongoing operations of the Company, may not be comparable from period to period.

Other companies may calculate Adjusted Net Income, EBITDA, Adjusted EBITDA, FFO, and Normalized FFO differently than the Company does, or adjust for other items, and therefore comparability may be limited.   Adjusted Net Income, EBITDA, Adjusted EBITDA, FFO, and Normalized FFO and, where appropriate, their corresponding per share measures are not measures of performance under GAAP, and should not be considered as an alternative to cash flows from operating activities, a measure of liquidity or an alternative to net income as indicators of the Company’s operating performance or any other measure of performance derived in accordance with GAAP.   This data should be read in conjunction with the Company’s consolidated financial statements and related notes included in its filings with the Securities and Exchange Commission.

Contact:	Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
	Financial Media: David Gutierrez, Dresner Corporate Services – (312) 780-7204

 

Monday, April 26, 2021

Driven By Stem (STMH)(STEM:CA)
Stem Holdings: Farm-to-Home Cannabis Provider

Stem Holdings Inc is engaged in the purchasing, improving, and leasing of properties and finance assets which are operated by third parties and are used for the cultivation and retail sale of marijuana. Its properties includes 42nd Street, and Mulino Farm which are used for agriculture. The company generates its revenue in the form of rental income from tenants.

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

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

Initiating Coverage. We are initiating research coverage on Stem Holdings. We believe the Company’s recent merger with Driven Deliveries has established Stem as the first cannabis cultivator and technology omnichannel retailer with e-commerce ordering and express and next-day delivery.


From Farm-to-Home.  With 22 licenses spanning cultivation, processing, edibles, and distribution, Stem is truly a “farm-to-home” cannabis operator. The new home delivery business can leverage off Stem’s existing manufacturing and dispensary business and vice versa, while the Company’s award winning brands and proprietary genetics provide a competitive edge …

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. 

Monday, April 26, 2021

DLH Holdings Corp. (DLHC)
Awarded VA-CMOP Logistics

DLH Holdings Corp is a provider of technology-enabled business process outsourcing and program management solutions in the United States. The company offers services to several government agencies which include the Department of veteran affairs, Department of health and human services, Department of Defense and other government agencies. It operates primarily through prime contracts and also derives its revenue from agencies of the federal government, primarily as a prime contractor but also as a subcontractor to other Federal prime contractors.

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

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

CMOP Award. On Friday, DLH announced its had won the follow-on contract for CMOP medical logistics for the VA. This contract had originally been targeted for small businesses but the VA eventually removed all set-aside tiers and awarded the contract to incumbent DLH. This program processed over 120 million prescriptions in 2020 from seven geographical locations nationwide. We believe Friday’s announcement positions the Company to win the remaining CMOP award for pharmacy services still outstanding.


Contract Details.  The contract includes a base period of one year, with four one year options. Total value of the contract, assuming all options are exercised is $202 million. The contract value is in-line with the previous contracts, which generated $43.7 million and $39.4 million of revenue in fiscal 2020 and fiscal 2019 for DLH …

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. 

CoreCivic Announces 2021 First Quarter Earnings Release and Conference Call Dates

 

BRENTWOOD, Tenn., April 23, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2021 first quarter financial results after the market closes on Wednesday, May 5, 2021.  

A live broadcast of CoreCivic’s conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, May 6, 2021, and will be accessible through the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page. The live broadcast can also be accessed by dialing 800-367-2403 in the U.S. and Canada, including the confirmation passcode 7487376. An online replay of the call will be archived on our website promptly following the conference call. In addition, there will be a telephonic replay available beginning at 1:00 p.m. central time (2:00 p.m. eastern time) on May 6, 2021, through 1:00 p.m. central time (2:00 p.m. eastern time) on May 14, 2021. To access the telephonic replay, dial 888-203-1112 in the U.S. and Canada. International callers may dial +1 719-457-0820 and enter passcode 8097453.

About CoreCivic

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. 

Contact:		Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
		Media: Steve Owen – Vice President, Communications – (615) 263-3107

CoreCivic Announces 2021 First Quarter Earnings Release and Conference Call Dates

 

BRENTWOOD, Tenn., April 23, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it will release its 2021 first quarter financial results after the market closes on Wednesday, May 5, 2021.  

A live broadcast of CoreCivic’s conference call will begin at 10:00 a.m. central time (11:00 a.m. eastern time) on Thursday, May 6, 2021, and will be accessible through the Company’s website at www.corecivic.com under the “Events & Presentations” section of the “Investors” page. The live broadcast can also be accessed by dialing 800-367-2403 in the U.S. and Canada, including the confirmation passcode 7487376. An online replay of the call will be archived on our website promptly following the conference call. In addition, there will be a telephonic replay available beginning at 1:00 p.m. central time (2:00 p.m. eastern time) on May 6, 2021, through 1:00 p.m. central time (2:00 p.m. eastern time) on May 14, 2021. To access the telephonic replay, dial 888-203-1112 in the U.S. and Canada. International callers may dial +1 719-457-0820 and enter passcode 8097453.

About CoreCivic

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good. 

Contact:		Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
		Media: Steve Owen – Vice President, Communications – (615) 263-3107

CO2 Emissions by Country

 

Each Country’s Share of Emissions (GT=Gigaton)

 

Countries across the globe have varying populations and are at different stages of development which influences their CO2 output along with emitting other greenhouse gases into the atmosphere. The International Energy Agency has compiled related data in the pie chart above and tables below. The amount per country and amount per capita are startling in their differences.

 

The 21 Countries that Emitted the Most Carbon Dioxide  

 

 

Measured in gigatons, the top CO2-producing countries are among the most populous and industrial (above). Looking at how much CO2 is released per capita and the list provides a very different perspective. India moves down from #3 to #21, and Kazakstan which was #21 moves up to #2.

 

 

The story that emerges from this data is that, in general, developed countries and major emerging economy nations contribute the most in total carbon dioxide emissions while some developing nations lead in the average emitted carbon dioxide per resident.

 

Sources:

http://energyatlas.iea.org/#!/tellmap/1378539487

https://www.ucsusa.org/resources/each-countrys-share-co2-emissions

 

 

 

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ISG GovernX® Adds Real-Time Data Feeds for Complete Risk Management Solution

 

STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, said today it is adding real-time data feeds to its market-leading ISG GovernX® vendor compliance and risk management platform, to help clients monitor and respond to risk events as they happen.

GovernX is the industry’s only governance solution that integrates contract information, strategic relationship management and real-time risk monitoring and alerts to pro-actively mitigate business risk. Users can now add a variety of external data feeds to the platform for an unparalleled view of all potential risks, both within their specific supplier ecosystem and from the broader marketplace. Intelligent workflows identify and categorize each risk, alert the appropriate functions, and trigger automated responses, including targeted risk assessments to the suppliers involved.

The new third-party risk management capabilities come as provider ecosystems continue to grow more complex, introducing more risk to the enterprise, and threats against supply-chain integrity become more diverse. In addition to monitoring the operational performance and financial viability of their suppliers, enterprises need to address a range of other internal and external risks, from data security and regulatory issues, to adverse environmental, health and geopolitical events, to social responsibility, diversity and inclusion considerations.

“As companies prioritize digital transformation and increase their reliance on third-party vendors to achieve their goals, it’s no longer enough to simply monitor the supplier landscape and conduct periodic, point-in-time risk assessments,” said Lois Coatney, partner and president, ISG GovernX. “The newest version of our platform proactively monitors a company’s entire landscape and sends real-time alerts on potential threats to the right people, with a clear path for action and resolution.”

Beyond these new risk management capabilities, the ISG GovernX platform allows clients to manage their full portfolio of contracts, ensuring the right controls are in place through the entire contract lifecycle. The platform also manages each supplier’s performance and compliance to obligations, ensuring an accurate and up-to-date profile of each relationship.

“Internal and external intelligence is crucial to a well-managed business, but CIOs and CSOs lose sleep over the many red flags that are missed in the deluge of data that is generated every day,” Coatney said. “Sending information to the right team with a clear record of accountability and follow-through not only helps mitigate risk, it proves to regulators and other stakeholders that a company has evaluated and acted on information in a timely way.

“Combined with our internal supplier performance monitoring, ISG GovernX clients now have a complete inside-out and outside-in view of each supplier’s operational performance, how it is meeting its contractual obligations, and how risks in the supplier’s business and in the broader marketplace can impact overall service and supply chain integrity,” she said.

In 2020, ISG GovernX saw a 90 percent increase in enterprise subscriptions, as clients embrace a more effective way to automate and manage their ever-growing portfolio of software and services contracts and understand potential risks to their supply chain, which have been amplified by the COVID-19 pandemic.

ISG GovernX enables organizations to control costs by managing consumption, validating invoices, optimizing demand, reviewing all new requests against the spending portfolio and controlling value leakage. More than $46 billion of supplier contracts are now managed on GovernX, and there are more than 12,000 active users on the platform.

To learn more about the enhanced risk management capabilities of GovernX, visit this webpage. For an overview of the broader GovernX platform, click here.

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.

ISG GovernX® Adds Real-Time Data Feeds for Complete Risk Management Solution

 

STAMFORD, Conn.–(BUSINESS WIRE)– Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, said today it is adding real-time data feeds to its market-leading ISG GovernX® vendor compliance and risk management platform, to help clients monitor and respond to risk events as they happen.

GovernX is the industry’s only governance solution that integrates contract information, strategic relationship management and real-time risk monitoring and alerts to pro-actively mitigate business risk. Users can now add a variety of external data feeds to the platform for an unparalleled view of all potential risks, both within their specific supplier ecosystem and from the broader marketplace. Intelligent workflows identify and categorize each risk, alert the appropriate functions, and trigger automated responses, including targeted risk assessments to the suppliers involved.

The new third-party risk management capabilities come as provider ecosystems continue to grow more complex, introducing more risk to the enterprise, and threats against supply-chain integrity become more diverse. In addition to monitoring the operational performance and financial viability of their suppliers, enterprises need to address a range of other internal and external risks, from data security and regulatory issues, to adverse environmental, health and geopolitical events, to social responsibility, diversity and inclusion considerations.

“As companies prioritize digital transformation and increase their reliance on third-party vendors to achieve their goals, it’s no longer enough to simply monitor the supplier landscape and conduct periodic, point-in-time risk assessments,” said Lois Coatney, partner and president, ISG GovernX. “The newest version of our platform proactively monitors a company’s entire landscape and sends real-time alerts on potential threats to the right people, with a clear path for action and resolution.”

Beyond these new risk management capabilities, the ISG GovernX platform allows clients to manage their full portfolio of contracts, ensuring the right controls are in place through the entire contract lifecycle. The platform also manages each supplier’s performance and compliance to obligations, ensuring an accurate and up-to-date profile of each relationship.

“Internal and external intelligence is crucial to a well-managed business, but CIOs and CSOs lose sleep over the many red flags that are missed in the deluge of data that is generated every day,” Coatney said. “Sending information to the right team with a clear record of accountability and follow-through not only helps mitigate risk, it proves to regulators and other stakeholders that a company has evaluated and acted on information in a timely way.

“Combined with our internal supplier performance monitoring, ISG GovernX clients now have a complete inside-out and outside-in view of each supplier’s operational performance, how it is meeting its contractual obligations, and how risks in the supplier’s business and in the broader marketplace can impact overall service and supply chain integrity,” she said.

In 2020, ISG GovernX saw a 90 percent increase in enterprise subscriptions, as clients embrace a more effective way to automate and manage their ever-growing portfolio of software and services contracts and understand potential risks to their supply chain, which have been amplified by the COVID-19 pandemic.

ISG GovernX enables organizations to control costs by managing consumption, validating invoices, optimizing demand, reviewing all new requests against the spending portfolio and controlling value leakage. More than $46 billion of supplier contracts are now managed on GovernX, and there are more than 12,000 active users on the platform.

To learn more about the enhanced risk management capabilities of GovernX, visit this webpage. For an overview of the broader GovernX platform, click here.

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.

 

New Waitlist for Reddit Talk – Have you Added Yourself?

 

Reddit has decided to broaden its services to include audio conversations – à la Clubhouse. Today, the social media platform announced that they are in the testing phase of what is starting to be a trend in social media.

You can get in on the early tests (we are).  So if you aren’t following u/channelchek, get that done now!

https://www.reddit.com/user/channelchek/

To be on the waitlist Reddit asks you to answer a few questions; they’ll let you know when Reddit Talk will be available. Only moderators can start talks during early tests, but any Redditor on iOS and Android can listen in.  They’ll then roll out the full version from there.

 

Clubhouse is an invitation-only social media app for iOS that facilitates auditory communication through rooms that can accommodate groups of up to 5,000 people. The audio-only app hosts virtual rooms for live discussions, with opportunities for individuals to participate through speaking and listening.

 

Functionality

You’ll be able to listen and can interact with discussions by reacting with emojis. If you have something you want to contribute to the conversation, you raise a virtual hand, and a host could invite you to talk.

How’s Your Karma?

Hosts will be able to see how much karma each user who raises a hand has. So that may be something to work on. They say they plan to give the feature “the best moderation experience possible.”  And as another differentiator to the popular Clubhouse, which has people using their real identities and photos, Reddit Talk users will be able to use pseudonyms and avatars.

See you online!

 

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Thursday, April 15, 2021

Schwazze (SHWZ)
Call with Management

Medicine Man Technologies, Inc. is now operating under its new trade name, Schwazze. Schwazze is executing its strategy to become a leading vertically integrated cannabis holding company with a portfolio consisting of top-tier licensed brands spanning cultivation, extraction, infused-product manufacturing, dispensary operations, consulting, and a nutrient line. Schwazze leadership includes Colorado cannabis leaders with proven expertise in product and business development as well as top-tier executives from Fortune 500 companies. As a leading platform for vertical integration, Schwazze is strengthening the operational efficiency of the cannabis industry in Colorado and beyond, promoting sustainable growth and increased access to capital, while delivering best-quality service and products to the end consumer. The corporate entity continues to be named Medicine Man Technologies, Inc.

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

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

Management Q&A. We recently had an opportunity to conduct a question and answer session with Schwazze CEO Justin Dye and CFO Nancy Huber. The call covered a wide range of topics including the current state of the business, the Star Buds acquisition, the state of the Colorado market, the M&A pipeline, and the legislative environment. We came away impressed with the Schwazze story and the opportunities available to the Company.


M&A Integration and Synergies.  A key strength and differentiating factor of management, in our opinion, is bringing a “grocery store” mindset and operating model to the cannabis industry, which has much higher margins. Already, management has tripled Purplebees output and revenues and seen significant margin improvement in former Mesa retail dispensaries. This level of operating detail is being …

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. 

 

CoreCivic Announces Upsizing and Pricing of $450 Million 8.25% Senior Notes Due 2026

 

BRENTWOOD, Tenn., April 15, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the “Company”) closed its offering of $450,000,000 aggregate principal amount of 8.25% senior unsecured notes due 2026 (the “Notes”) on April 14, 2021. The Notes were priced at 99.0% of face value and have an effective yield to maturity of 8.50%. The aggregate net proceeds from the sale of the Notes are expected to be approximately $435.1 million, after deducting the original issuance and underwriting discounts and estimated offering expenses. CoreCivic is using a significant amount of the net proceeds from the offering of the Notes (i) to redeem all $250 million principal amount of its outstanding 5.00% senior notes due 2022 (the “2022 Senior Notes”), which have been called for redemption on May 14, 2021 by a redemption notice issued on April 14, 2021, including the payment of the applicable make-whole amount and accrued interest, and (ii) to otherwise repay or reduce its other indebtedness, which includes repurchasing approximately $128 million principal amount of the $350 million aggregate principal amount of 4.625% senior notes due 2023 (the “2023 Senior Notes”). Following the repurchases of the 2023 Senior Notes described in the preceding sentence, the outstanding principal balance of the 2023 Senior Notes will be approximately $222 million. CoreCivic may use any remaining proceeds for general corporate purposes.

Imperial Capital acted as left lead underwriter, StoneX Financial Inc. acted as joint bookrunner, and Wedbush Securities Inc. acted as co-manager for the offering.

The Notes were offered pursuant to CoreCivic’s effective shelf registration statement on Form S-3ASR, which became effective upon filing with the Securities and Exchange Commission on April 6, 2021. A prospectus supplement describing the terms of the offering has been filed with the Securities and Exchange Commission and is available at www.sec.gov. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and accompanying prospectus relating to this offering may be obtained at Imperial Capital, LLC, 10100 Santa Monica Boulevard, Suite 2400, Los Angeles, CA 90067, Attn: Prospectus Department, or by telephone at (310) 246-3700.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute a notice of redemption under the indenture governing the 2022 Senior Notes or the indenture governing the 2023 Senior Notes, nor shall there be any offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This press release includes forward-looking statements regarding CoreCivic’s intended use of the remaining net proceeds from the issuance of the Notes. These forward-looking statements may be affected by risks and uncertainties in CoreCivic’s business and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in CoreCivic’s Securities and Exchange Commission filings, including CoreCivic’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the Securities and Exchange Commission on February 22, 2021, as well as the risks identified in the prospectus supplement and the accompanying prospectus relating to the offering. CoreCivic wishes to caution readers that certain important factors may have affected and could in the future affect CoreCivic’s actual results and could cause CoreCivic’s actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of CoreCivic, including the risk that the offering of the Notes cannot be successfully completed. CoreCivic undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.

About CoreCivic

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Contact:

Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024 Media: Steve Owen – Vice President, Communications – (615) 263-3107

 

Harte Hanks Announces Opening of New State-of-the-Art Fulfillment and Distribution Facility in Kansas City, Kansas

 

New 297,000 Sq. Ft. Center with FDA/KDA Licensing Provides Food, OTC and Packaged Goods Product Storage and Distribution Capabilities

AUSTIN, Texas, April 15, 2021 /PRNewswire/ — Harte Hanks (Harte Hanks), a leading global customer experience company, today announced the opening of a new state-of-the-art fulfillment and distribution facility in Kansas City, Kansas.

This new location enables Harte Hanks’ clients to reach their customers with products in any region of the contiguous United States using standard ground transportation within three days, and outer regions such as Hawaii, Alaska and Puerto Rico within five days.

The Kansas City facility is expected to begin distributing over 20,000 packages a day, supporting the company’s move into eCommerce fulfillment. The facility expects to employ up to 125 professionals in various areas, including packaging, warehousing, logistics, and sales in both new and existing job opportunities.

Harte Hanks chose the Kansas City area to enable existing employees to access the new operation easily and to tap into the skilled workforce in the Kansas City marketplace as the company grows.

Brian Linscott, Harte Hanks’ Chief Operating Officer, said, “We are excited to expand our Fulfillment footprint, retain our highly skilled Kansas City team, and leverage the central distribution location to create efficient solutions for current and new customers.”

The facility, which features leading-edge digital print and packaging capabilities, is registered with the FDA and the Kansas Department of Agriculture to store and distribute packaged food products. These features, along with the facility’s grade A National Sanitation Foundation (NSF) certification, ensure that products and brands will be stored and shipped using the highest sanitation and food safety standards. 

“Whether fulfilling OTC products like vitamins and supplements, coffees and teas, pet foods, snack foods, cereals, or any packaged food product, this state-of-the-art temperature-controlled facility ensures that your product is delivered quickly and safely to your most desired customer,” said Pat O’Brien, Managing Director of Harte Hanks’ Fulfillment and Logistics business. “Our Marketing Services capabilities also provide clients with the ability to manage their digital storefront, end to end, making our offer highly differentiated.”    

Mr. O’Brien noted, for example, the facility’s ability to deliver fast and easy “smart sampling” options for customers. “Whether sampling packaged goods, pharmaceutical products, eCommerce goods or healthcare patient kits, the new facility’s central location can rapidly process and ship these products to customers in an incredibly effective manner that also provides significant cost savings.” 

About Harte Hanks

Harte Hanks (OTCMKTS: HRTH) is a global omnichannel customer experience company. We partner with clients to seamlessly manage experiences with their customers throughout the entire customer lifecycle through our marketing services, customer care, and fulfillment and logistics offerings. Harte Hanks works with some of the world’s most respected brands, including Bank of America, Cisco, IBM, Pfizer, Sony and Ford, among others. Headquartered in Austin, Texas, Harte Hanks has more than 2,000 employees in offices across the Americas, Europe and Asia Pacific.

For more information, visit hartehanks.com. 
For any questions, please contact Pat.Obrien@hartehanks.com

Images Available Upon Request

SOURCE Harte Hanks

Harte Hanks Announces Opening of New State-of-the-Art Fulfillment and Distribution Facility in Kansas City, Kansas

 

New 297,000 Sq. Ft. Center with FDA/KDA Licensing Provides Food, OTC and Packaged Goods Product Storage and Distribution Capabilities

AUSTIN, Texas, April 15, 2021 /PRNewswire/ — Harte Hanks (Harte Hanks), a leading global customer experience company, today announced the opening of a new state-of-the-art fulfillment and distribution facility in Kansas City, Kansas.

This new location enables Harte Hanks’ clients to reach their customers with products in any region of the contiguous United States using standard ground transportation within three days, and outer regions such as Hawaii, Alaska and Puerto Rico within five days.

The Kansas City facility is expected to begin distributing over 20,000 packages a day, supporting the company’s move into eCommerce fulfillment. The facility expects to employ up to 125 professionals in various areas, including packaging, warehousing, logistics, and sales in both new and existing job opportunities.

Harte Hanks chose the Kansas City area to enable existing employees to access the new operation easily and to tap into the skilled workforce in the Kansas City marketplace as the company grows.

Brian Linscott, Harte Hanks’ Chief Operating Officer, said, “We are excited to expand our Fulfillment footprint, retain our highly skilled Kansas City team, and leverage the central distribution location to create efficient solutions for current and new customers.”

The facility, which features leading-edge digital print and packaging capabilities, is registered with the FDA and the Kansas Department of Agriculture to store and distribute packaged food products. These features, along with the facility’s grade A National Sanitation Foundation (NSF) certification, ensure that products and brands will be stored and shipped using the highest sanitation and food safety standards. 

“Whether fulfilling OTC products like vitamins and supplements, coffees and teas, pet foods, snack foods, cereals, or any packaged food product, this state-of-the-art temperature-controlled facility ensures that your product is delivered quickly and safely to your most desired customer,” said Pat O’Brien, Managing Director of Harte Hanks’ Fulfillment and Logistics business. “Our Marketing Services capabilities also provide clients with the ability to manage their digital storefront, end to end, making our offer highly differentiated.”    

Mr. O’Brien noted, for example, the facility’s ability to deliver fast and easy “smart sampling” options for customers. “Whether sampling packaged goods, pharmaceutical products, eCommerce goods or healthcare patient kits, the new facility’s central location can rapidly process and ship these products to customers in an incredibly effective manner that also provides significant cost savings.” 

About Harte Hanks

Harte Hanks (OTCMKTS: HRTH) is a global omnichannel customer experience company. We partner with clients to seamlessly manage experiences with their customers throughout the entire customer lifecycle through our marketing services, customer care, and fulfillment and logistics offerings. Harte Hanks works with some of the world’s most respected brands, including Bank of America, Cisco, IBM, Pfizer, Sony and Ford, among others. Headquartered in Austin, Texas, Harte Hanks has more than 2,000 employees in offices across the Americas, Europe and Asia Pacific.

For more information, visit hartehanks.com. 
For any questions, please contact Pat.Obrien@hartehanks.com

Images Available Upon Request

SOURCE Harte Hanks