Toward the end of trading Wednesday, the Dow traded down 0.08% to 35,692.63 while the NASDAQ rose 0.45% to 15,757.04. The S&P also rose, gaining 0.12% to 4,692.41. The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 50,270,130 cases with around 812,200 deaths. India confirmed a total of at least 34,656,820 cases and 473,950 deaths, while Brazil reported over 22,157,720 COVID-19 cases with 616,060 deaths. In total, there were at least 267,527,370 cases of COVID-19 worldwide with more than 5,289,820 deaths. Leading and Lagging Sectors Communication services shares climbed 0.5% on Wednesday. Meanwhile, top gainers in the sector included Roku, Inc. (NASDAQ: ROKU), up 15% and Stagwell Inc. (NASDAQ: STGW) up 11%. In trading on Wednesday, consumer staples shares fell 1.1%. Top Headline United Natural Foods, Inc. (NYSE: UNFI) reported better-than-expected results for its first quarter. United Natural Foods reported a quarterly profit of $0.97 per share, ...Full story available on Benzinga.com.....»»

TOKYO, Dec. 8, 2021 /PRNewswire/ -- SHIKIGAKU Co., Ltd.  (TYO:7049) , the company that primarily provides management consulting and platform services based on "Shikigaku," an organizational management theory grounded in original and unique logical concepts, recently has been reviewed by KCR Inc., an independent research and investor relations support company providing reports on various publicly traded Japanese companies. In this report, KCR provides analysis of the company's business model and earnings. Report Highlights With its corporate philosophy of "Disseminate Shikigaku and maximize people's potential," SHIKIGAKU Co., Ltd. (TSE Mothers: 7049) has focused on conducting activities aimed at propagating its Shikigaku theory since its founding. Established in March 2015, the Company has since applied its Shikigaku theory internally, and was listed on the Mothers section of the Tokyo Stock Exchange within just four years. The Shikigaku theory was invented by Kenji Fukutomi, currently the second largest shareholder of the Company, and was subsequently systematized and expanded by Koudai Ando, the Company's president and representative director. When the Company was established, it started with only JPY500,000 in capital, including JPY250,000 each from President Ando and Kenji Fukutomi, and has since been growing with astonishing speed. The company's existing businesses include its core Organization Consulting business; the Sports Entertainment business, which consists mainly of a B2 League basketball team that the Company acquired to expand its business domain; and the VC Fund business. Additionally, the Company has launched a Hands-On Support Fund business and a Contract Development business as new businesses. In its Organization Consulting business, the Company plans to once again increase its consultant staff by 20–25 consultants. Ultimately, the Company aims to prove the effectiveness of its Shikigaku theory by expanding the size of this staff to 100 consultants. Meanwhile, the company is working to further increase the pool of contracted companies and sales figures associated with its platform services and expand sales generated through SHIKIGAKU Career while striving to maintain per-consultant sales of JPY4 million. The Company is also endeavoring to prove the utility of its Shikigaku theory in all of its other business domains by developing for-profit business operations within these areas. For example, the Company began developing its fund-related businesses by proving that investees receiving support from the Company generated higher results when implementing the Company's Shikigaku theory on a full scale. The unique logic of the Shikigaku system implies a structure of consciousness, and the system itself represents patterns of behavioral logic that are set ...Full story available on Benzinga.com.....»»

Rent the Runway, Inc. Announces Fiscal Third Quarter Results.....»»

WEST JORDAN, Utah, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Sportsman's Warehouse Holdings, Inc. ("Sportsman's Warehouse" or the "Company") (NASDAQ:SPWH) today announced financial results for the thirteen and thirty-nine weeks ended October 30, 2021. "I am very proud of our team and pleased with the performance of the business during the third quarter." said Jon Barker, Sportsman's Warehouse CEO. "Despite a very difficult comparison and the terminated merger agreement with the Great Outdoors Group, Inc., our team has been able to achieve incredible results in the quarter and year-to-date periods." Notable Achievements Topline sales growth of 4% for the third quarter compared to the third quarter of fiscal year 2020, which includes the opening of 7 new stores in an 8 week period. As of today, the Company has opened 10 stores in fiscal 2021, including in 2 new states. This brings our total store count to 122 stores in 29 states. Same store sales decline of 1.5% for the third quarter of fiscal year 2021 compared to the third quarter of fiscal year 2020. Compared to the same period of 2019, the Company saw same store sales growth of 39.4%. E-commerce sales growth of over 15% for the third quarter of fiscal year 2021 versus the same period of fiscal year 2020. The Company saw over 260% E-commerce sales growth compared to the same period in fiscal year 2019. Significant growth of our customer database with new co-branded Explorewards credit card issuances up over 100% and collected customer e-mail addresses up over 30% year-to-date. For the thirteen weeks ended October 30, 2021: Net sales were $401.0 million, an increase of $15.3 million, or 4.0%, compared to the third quarter of fiscal year 2020, primarily due to the opening of seven new stores since October 31, 2020. Compared to the third quarter of fiscal year 2019, net sales increased 65.3% from $242.5 million. Same store sales decreased 1.5% during the third quarter of fiscal year 2021 compared to the third quarter of fiscal year 2020. Compared to the same period of 2019, same stores sales increased 39.4%. Gross profit was $129.6 million, or 32.3% of net sales, compared to $130.6 million, or 33.9% of net sales in the comparable prior year period, a year-over-year decrease of $1.0 million in gross profit and a 160-basis point decrease in gross profit margin. The decrease in gross profit margin can be attributed to an increase in freight costs partially offset by higher product margins and vendor programs. Net income was $21.9 million compared to net income of $30.5 million in the third quarter of fiscal year 2020. Adjusted net income was $22.7 million compared to adjusted net income of $31.5 million in the third quarter of fiscal year 2020. Net income and adjusted net income for the third quarter of fiscal year 2019 was $10.5 million and $10.8 million, respectively (see "GAAP and Non-GAAP Measures"). Adjusted EBITDA was $39.3 million compared to $49.9 million in the comparable prior year period. Adjusted EBITDA for the third quarter of fiscal year 2019 was $23.2 million (see "GAAP and Non-GAAP Measures"). Diluted earnings per share were $0.49 compared to diluted earnings per share of $0.68 in the comparable prior year period. Adjusted diluted earnings per share were $0.51 compared to adjusted diluted earnings per share of $0.71 for the comparable prior year period. Diluted earnings per share and adjusted diluted earnings per share for the comparable period of fiscal year 2019 was $0.24 and $0.25, respectively (see "GAAP and Non-GAAP Measures"). For the thirty-nine weeks ended October 30, 2021: Net sales were $1,089.8 million, an increase of $76.2 million, or 7.5%, compared to the 39 weeks ended October 31, 2020, primarily due to a combination of opening of seven new stores since October 31, 2020, and an increase in same store sales of 1.5% as we saw strong demand across all categories. Compared to the first 39 weeks of fiscal 2019, net sales increased 73.5% from $628.2 million. Gross profit was $353.7 million, or 32.5% of net sales, compared to $334.5 million, or 33.0% of net sales in the comparable prior year period, a year-over-year increase of $19.3 million in gross profit and a 50 basis point decrease in gross profit margin. The decline in gross profit margin can be attributed to higher freight costs for the period versus the prior year, partially offset by increased product margins and vendor programs. Net income was $50.0 million compared to net income of $61.8 million in the first 39 weeks of fiscal year 2020. Adjusted net income was $54.7 million compared to adjusted net income of $65.6 million in the first 39 weeks of fiscal year 2020. Net income and adjusted net income for the first 39 weeks of fiscal 2019 was $10.5 million and $11.3 million, respectively (see "GAAP and Non-GAAP Measures"). Adjusted EBITDA was $98.0 million compared to $111.7 million in the comparable prior year period. Adjusted EBITDA for the first 39 weeks of fiscal year 2019 was $39.4 million (see "GAAP and Non-GAAP Measures"). Diluted earnings per share were $1.13 compared to a diluted earnings per share of $1.40 in the comparable prior year period. Adjusted diluted earnings per share were $1.23 compared to adjusted diluted earnings per share of $1.48 for the comparable prior year period. Diluted earnings per share and adjusted diluted earnings per share for the first 39 weeks of fiscal year 2019 was $0.24 and $0.26, respectively (see "GAAP and Non-GAAP Measures"). Balance sheet highlights as of October 30, 2021: Total net debt was $55.1 million at the end of the third quarter of fiscal year 2021, comprised of $2.5 million of cash on hand and $57.6 million of borrowings outstanding under the Company's revolving credit facility. In comparison, total net debt as of the end of the third quarter of fiscal year 2019 was $160.5 million consisting of $130.8 million outstanding under the Company's revolving credit facility and $29.7 million outstanding under the prior term loan, net of unamortized debt issuance costs. Total liquidity was $151.8 million as of the end of the third quarter of fiscal year 2021 with $149.3 million of availability on the revolving credit facility and $2.5 million of cash on hand. As of December 8, 2021, the Company had approximately $57.5 million of cash on hand due to the $55.0 million payment received in conjunction with the termination of the merger agreement with Great Outdoors Group, Inc. Total inventory was $428.5 million as of the end of the third quarter of fiscal year 2021. Inventory per store has recovered as compared to 2020 levels with an increase of 25.2% more on a per store basis. Q4 2021 and Full Year Outlook: At this time the Company will not be providing guidance for the fourth quarter or full fiscal year 2021. Non-GAAP Information This press release includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission (the "SEC"): adjusted net income, adjusted diluted earnings per share, and Adjusted EBITDA. The Company defines adjusted net income as net income, plus expenses incurred relating to the acquisition of Field and Stream store locations and the proposed merger with the Great Outdoors Group, LLC, expenses incurred relating to bonuses and increased wages paid to front-line and non-executive back office associates due to COVID-19, the costs and impairments recorded relating to the closure of one store during the first quarter of 2020, an accrual relating to pending labor litigation in the state of California, the excess of fair value over the purchase price of tangible assets acquired in connection with the Field & Stream stores acquired during fiscal 2020 and expenses incurred relating to the transition of our former Chief Financial Officer and the recruitment and hiring of various key members of our senior management team, less recognized tax benefits, as applicable. The Company defines adjusted diluted earnings per share as adjusted net income divided by diluted weighted average shares outstanding. The Company defines Adjusted EBITDA as net income plus interest expense, income tax (benefit) expense, depreciation and amortization, stock-based compensation expense, pre-opening expenses, expenses incurred relating to the acquisition of Field and Stream store locations and the proposed merger with the Great Outdoors Group, LLC, bonuses and increased wages paid to front-line and non-executive back office associates due to COVID-19, the costs and impairments recorded relating to the closure of one store during the first quarter of 2020, the excess of fair value over the purchase price of tangible assets acquired in connection with the Field & Stream stores acquired during fiscal 2020, expenses incurred relating to the transition of our former Chief Financial Officer and the recruitment and hiring of various key members of our senior management team and an accrual relating to pending labor litigation in the state of California . The Company has reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures under "GAAP and Non-GAAP Measures" in this release. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company's business and facilitate a more meaningful comparison of its diluted earnings per share and actual results on a period-over-period basis. The Company has provided this information as a means to evaluate the results of its ongoing operations. Other companies in the Company's industry may calculate these items differently than the Company does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to many factors including, but not limited to:  the potential impact of the termination of our merger agreement with Great Outdoors Group, LLC, including any impact on our stock price, business, financial condition and results of operations, and the potential negative impact to our business and employee relationships; current and future government regulations, in particular regulations relating to the sale of firearms and ammunition, which may impact the supply and demand for the Company's products and the Company's ability to conduct its business; the impacts of COVID-19 and measures intended to reduce its spread on the Company's operations; the Company's retail-based business model, which is impacted by general economic, market and financial uncertainties that may cause a decline in consumer spending; the Company's concentration of stores in the Western United States, which makes the Company susceptible to adverse conditions in this region and could affect the Company's sales and cause its operating results to suffer; the highly fragmented and competitive industry in which the Company operates and the potential for increased competition; changes in consumer demands, including regional preferences, which the Company may not be able to identify and respond to in a timely manner; the Company's entrance into new markets or operations in existing markets, which may not be successful; and other factors that are set forth in the Company's filings with the SEC, including under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended January 30, 2021 which was filed with the SEC on April 2, 2021, and the Company's other public filings made with the SEC and available at www.sec.gov. If one or more of these risks or uncertainties materialize, or if any of the Company's assumptions prove incorrect, the Company's actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. About Sportsman's Warehouse Holdings, Inc. Sportsman's Warehouse Holdings, Inc. is an outdoor specialty retailer focused on meeting the needs of the seasoned outdoor veteran, the first-time participant, and everyone in between. We provide outstanding gear and exceptional service to inspire outdoor memories. For press releases and certain additional information about the Company, visit the Investor Relations section of the Company's website at www.sportsmans.com. Investor Contacts:ICR Inc. Rachel Schacterinvestors@sportsmans.com   SPORTSMAN'S WAREHOUSE HOLDINGS, INC. Condensed Consolidated Statements of Income (Unaudited) (in thousands, except per share data)                                               For the Thirteen Weeks Ended                               October 30, 2021     % of net sales     October 31, 2020     % of net sales   YOY Variance                         Net sales $ 401,014   100.0 %   $ 385,748     100.0 %   $ 15,266     Cost of goods sold   271,392   67.7 %     255,166     66.1 %     16,226     Gross profit   129,622   32.3 %     130,582     33.9 %     (960 )                         Operating expenses:                     Selling, general and administrative expenses   99,974   24.9 %     92,252     23.9 %     7,722     Income from operations   29,648   7.4 %     38,330     10.0 %     (8,682 )   Bargain purchase gain   -   0.0 %     (2,218 )   (0.6 %)     2,218     Interest expense   413   0.1 %     536     0.1 %     (123 )   Income before income tax expense   29,235   7.3 %     40,012     10.5 %     (10,777 )   Income tax expense   7,372   1.8 %     9,530     2.5 %     (2,158 )   Net income $ 21,863   5.5 %   $ 30,482     8.0 %   $ (8,619 )                         Earnings per share                     Basic $ 0.50       $ 0.70         $ (0.20 )   Diluted $ 0.49       $ 0.68         $ (0.19 )                         Weighted average shares outstanding                     Basic   43,878         43,609           269     Diluted   44,582         44,510           72       SPORTSMAN'S WAREHOUSE HOLDINGS, INC. Condensed Consolidated Statements of Income (Unaudited) (in thousands, except per share data)                                           For the Thirty-Nine Weeks Ended                           October 30, 2021     % of net sales     October 31, 2020     % of net sales   YOY Variance                     Net sales $ 1,089,784   100.0 %   $ 1,013,572     100.0 %   $ 76,212   Cost of goods sold   736,061   67.5 %     679,122     67.0 %     56,939   Gross profit   353,723   32.5 %     334,450     33.0 %    .....»»

Third quarter net sales increased 41% year-over-year and exceeded pre-pandemic levels Third quarter GAAP and adjusted EPS increased to $1.54 and $1.19, respectively Raises fourth quarter and full-year revenue and EPS guidance ATLANTA, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Oxford Industries, Inc. (NYSE:OXM) today announced financial results for its fiscal 2021 third quarter ended October 30, 2021. Due to the material impact of COVID-19 on the Company's business in fiscal 2020, this release includes comparisons of fiscal 2021 results to both fiscal 2019 and fiscal 2020. Consolidated net sales in the third quarter of fiscal 2021 were $248 million compared to $175 million and $241 million in the third quarters of fiscal 2020 and fiscal 2019, respectively, despite significantly lower sales at Lanier Apparel, which we effectively exited during the third quarter of fiscal 2021. Earnings on a GAAP basis increased to $1.54 per share compared to a loss of $0.64 per share in the third quarter of fiscal 2020 and earnings of $0.10 per share in the third quarter of fiscal 2019. On an adjusted basis, earnings increased to $1.19 per share compared to a loss of $0.44 per share in the third quarter of fiscal 2020 and earnings of $0.10 per share in the third quarter of fiscal 2019. Details on adjustments can be found in the reconciliation tables at the end of this release. Thomas C. Chubb III, Chairman and CEO, commented, "We are delighted to be reporting record net sales and earnings for the third quarter of fiscal 2021. These outstanding results are directly attributable to the power of our brand portfolio, the strength of our product offerings and our ability to connect with and serve customers across channels, combined with the great work our teams have done to fortify these foundational cornerstones during the pandemic. While the current operating environment has presented challenges including supply chain disruptions and additional cost pressures, we are managing them adeptly and I am confident in our ability to continue successfully executing our key strategies as we move through the fourth quarter and into fiscal 2022. I am pleased to report that holiday selling to date has been robust and I firmly believe that we will deliver a strong finish to a fantastic year. I am incredibly grateful to our team and share their pride in what we have delivered for our customers and our shareholders." Summary of Results   Net Sales by Operating Group Third Quarter   ($ in millions) 2021 2020 2019   Tommy Bahama $148.5 $94.9 $127.0   Lilly Pulitzer 72.2 53.7 71.7   Southern Tide 13.2 10.0 9.1   Lanier Apparel (exited) 4.2 10.8 28.8   Other 9.7 5.7 4.7   Total Company $247.7 $175.1 $241.2 Third Quarter of Fiscal 2021 Compared to Third Quarter of Fiscal 2019 Net sales increased 3% to $248 million compared to the third quarter of fiscal 2019. Excluding Lanier Apparel, where operations were effectively exited during the third quarter of fiscal 2021, net sales increased 15% to $243 million compared to the $212 million of net sales in the same period of fiscal 2019. Full-price direct to consumer sales grew 40% to $143 million, with growth in each of our brands compared to the third quarter of fiscal 2019. Full-price retail sales grew 13% and full-price e-commerce sales grew 100% compared to the third quarter of fiscal 2019. Restaurant sales grew 14% to $20 million compared to the third quarter of fiscal 2019. The quarter benefited from strong increases at existing locations as well as the operation of five additional Marlin Bar locations. Off-price sales in our direct to consumer channels, which include the Lilly Pulitzer e-commerce flash clearance sale and Tommy Bahama outlet store sales, decreased by $12 million compared to the third quarter of fiscal 2019. Sales from the Lilly Pulitzer e-commerce flash clearance sale were $19 million in the third quarter of fiscal 2021 compared to $31 million in the third quarter of fiscal 2019. More inventory sold at full price in the spring and summer resulting in less inventory for the clearance event. Wholesale sales were $53 million during the third quarter of fiscal 2021 compared to $78 million during the third quarter of fiscal 2019. The decrease was primarily due to $25 million of lower sales in Lanier Apparel as we finalized the inventory liquidation in the third quarter of fiscal 2021. Gross margin, on both a GAAP and adjusted basis, increased to 62% compared to 55% in the third quarter of fiscal 2019. The gross margin improvement was fueled by strong full-price sales, a shift in sales mix towards full-price direct to consumer channels, and higher initial gross margin, partially offset by higher freight costs. SG&A was $138 million, or 56% of net sales, compared to $134 million, or 56% of net sales, in the third quarter of fiscal 2019. A non-recurring lease termination charge and increased advertising expense in the third quarter of fiscal 2021 were partially offset by decreases in employment costs due to reduced headcount. On an adjusted basis, SG&A was $131 million, or 53% of net sales, compared to $134 million, or 56% of net sales, in the third quarter of fiscal 2019. Royalties and other income increased to $16 million compared to $4 million of royalties and other income in the third quarter of fiscal 2019. On an adjusted basis, excluding a $12 million gain on the third quarter fiscal 2021 sale of an interest in an unconsolidated entity, royalties and other income were $4 million in the third quarters of both 2021 and 2019. Operating income increased to $31 million, or 12% of net sales, compared to $3 million, or 1% of net sales, in the third quarter of fiscal 2019. On an adjusted basis, operating income increased to $27 million, or 11% of net sales, compared to $3 million, or 1% of net sales, in the third quarter of fiscal 2019 with operating margin expansion in Tommy Bahama, Lilly Pulitzer and Southern Tide. The effective tax rate expense in the third quarter of fiscal 2021 was 15% compared to an effective tax rate benefit of 25% in the third quarter of fiscal 2020 and an effective tax rate expense of 34% in the third quarter of fiscal 2019. The third quarter of fiscal 2021 included the utilization of previous capital losses to substantially offset a gain recognized on the sale of an interest in an unconsolidated entity. On an adjusted basis, the effective tax rate expense was 24% in the third quarter of fiscal 2021 as compared to a benefit of 23% in the third quarter of fiscal 2020, and an effective tax rate expense of 33% in the third quarter of fiscal 2019. Balance Sheet and Liquidity On a FIFO basis, inventory decreased 24% compared to October 31, 2020. Excluding Lanier Apparel, FIFO inventory decreased 17% compared to October 31, 2020. As planned, inventory levels declined year over year with prudent purchases of seasonal inventory. Higher than expected sales during the first nine months of fiscal 2021 and ongoing enhancements to enterprise order management systems also contributed to the decrease. On a LIFO basis, inventory decreased 39%, or 31% excluding Lanier Apparel, compared to October 31, 2020. As of October 30, 2021, the Company had a strong liquidity position with $188 million of cash and short-term investments and no borrowings outstanding under its revolving credit agreement. In the first nine months of fiscal 2021, cash provided by operating activities was $157 million compared to $23 million in the first nine months of fiscal 2020. Outlook The strength of the Company's direct to consumer business is expected to continue through the remainder of 2021. For the fourth quarter, the Company expects net sales to be between $285 million and $295 million compared to net sales of $221 million in the fourth quarter of fiscal 2020 and $298 million in the fourth quarter of fiscal 2019. Lanier Apparel had sales of $9 million and $20 million during the fourth quarter of fiscal 2020 and 2019, respectively, with no sales expected during the fourth quarter of fiscal 2021. The Company expects earnings per share on a GAAP and adjusted basis in a range of $1.20 to $1.35 in the fourth quarter of fiscal 2021. This compares with a loss of $0.74 per share on a GAAP basis and an adjusted earnings per share of $0.13 in the fourth quarter of fiscal 2020, and earnings of $0.90 per share on a GAAP basis and an adjusted earnings per share of $1.09 in the fourth quarter of fiscal 2019. For the full fiscal year, the Company now expects net sales in a range of $1.127 billion to $1.137 billion as compared to net sales of $749 million in fiscal 2020 and $1.123 billion in fiscal 2019.  Lanier Apparel is expected to have sales of $25 million for fiscal 2021 and had sales of $39 million and $95 million during fiscal 2020 and 2019, respectively. In fiscal 2021, GAAP earnings per share are expected to be between $7.49 and $7.64. Adjusted earnings per share are expected to be between $7.52 and $7.67. This compares to a loss on a GAAP basis of $5.77 per share and an adjusted loss of $1.81 per share in fiscal 2020, and earnings of $4.05 per share on a GAAP basis and $4.32 per share on an adjusted basis in fiscal 2019. The Company's effective tax rate for the full year fiscal 2021 is expected to be approximately 22%. Capital expenditures in fiscal 2021, including $25 million in the first nine months of fiscal 2021, are expected to be between $35 million and $40 million, primarily reflecting investments in information technology initiatives, new Marlin Bars, and retail stores. Capital expenditures were $29 million in fiscal 2020 and $37 million in fiscal 2019. Dividend and Share Repurchase Authorization The Company announced that its Board of Directors has approved a cash dividend of $0.42 per share payable on January 28, 2022 to shareholders of record as of the close of business on January 14, 2022. The Company has paid dividends every quarter since it became publicly owned in 1960. In assessing the Company's capital allocation plan, the Company's Board of Directors has increased its share repurchase authorization to $150 million. Conference Call The Company will hold a conference call with senior management to discuss its financial results at 4:30 p.m. ET today. A live web cast of the conference call will be available on the Company's website at www.oxfordinc.com. A replay of the call will be available through December 22, 2021 by dialing (412) 317- 6671 access code 13724975. About Oxford Oxford Industries, Inc., a leader in the apparel industry, owns and markets the distinctive Tommy Bahama®, Lilly Pulitzer®, Southern Tide®, The Beaufort Bonnet Company®, and Duck Head® brands. Oxford's stock has traded on the New York Stock Exchange since 1964 under the symbol OXM. For more information, please visit Oxford's website at www.oxfordinc.com. Basis of Presentation All per share information is presented on a diluted basis. Non-GAAP Financial Information The Company reports its consolidated financial statements in accordance with generally accepted accounting principles (GAAP).  To supplement these consolidated financial results, management believes that a presentation and discussion of certain financial measures on an adjusted basis, which exclude certain non-operating or discrete gains, charges or other items, may provide a more meaningful basis on which investors may compare the Company's ongoing results of operations between periods.  These measures include adjusted earnings, adjusted earnings per share, adjusted gross profit, adjusted gross margin, adjusted SG&A, and adjusted operating income, among others. Management uses these non-GAAP financial measures in making financial, operational, and planning decisions to evaluate the Company's ongoing performance. Management also uses these adjusted financial measures to discuss its business with investment and other financial institutions, its board of directors and others.  Reconciliations of these adjusted measures to the most directly comparable financial measures calculated in accordance with GAAP are presented in tables included at the end of this release. Safe Harbor This press release includes statements that constitute forward-looking statements within the meaning of the federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which typically are not historical in nature. We intend for all forward-looking statements contained herein, in our press releases or on our website, and all subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf, to be covered by the safe harbor provisions for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Such statements are subject to a number of risks, uncertainties and assumptions including, without limitation, the impact of the coronavirus (COVID-19) pandemic on our business, operations and financial results, including due to uncertainties about scope and duration, future store closures or other restrictions (including reduced hours and capacity and/or operating requirements) due to government and health department mandates and/or recommendations, the effectiveness of store and restaurant re-openings (including impacts on consumer traffic) and supply chain disruptions, any or all of which may also affect many of the following risks; demand for our products, which may be impacted by competitive conditions and/or evolving consumer shopping patterns; macroeconomic factors that may impact consumer discretionary spending for apparel and related products; supply chain disruptions, including the potential lack of inventory to support demand for our products, which may be impacted by capacity constraints, closed factories, and cost and availability of freight deliveries; costs and availability of labor; costs of products as well as the raw materials used in those products; expected pricing levels; the timing of shipments requested by our wholesale customers; expected outcomes of pending or potential litigation and regulatory actions; cybersecurity breaches; changes in international, federal or state tax, trade and other laws and regulations, including the potential increase in the U.S. corporate federal income tax rate and/or imposition of additional duties; the ability of business partners, including suppliers, vendors, licensees and landlords, to meet their obligations to us and/or continue our business relationship to the same degree in light of current or future financial stress, staffing shortages, liquidity challenges and/or bankruptcy filings; weather; fluctuations and volatility in global financial markets; retention of and disciplined execution by key management; the timing and cost of store and restaurant openings and remodels, technology implementations and other capital expenditures; acquisition and disposition activities, including our ability to timely recognize expected synergies from acquisitions; the impact of any restructuring initiatives we may undertake; access to capital and/or credit markets; changes in accounting standards and related guidance; and factors that could affect our consolidated effective tax rate. Forward-looking statements reflect our expectations at the time such forward-looking statements are made, based on information available at such time, and are not guarantees of performance. Although we believe that the expectations reflected in such forward-looking statements are reasonable, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond our ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to us or that we currently deem to be immaterial, materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Important factors relating to these risks and uncertainties include, but are not limited to, those described in Part I. Item 1A. Risk Factors contained in our Annual Report on Form 10-K for Fiscal 2020, and those described from time to time in our future reports filed with the SEC. We caution that one should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. We disclaim any intention, obligation or duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Contact:  Anne M. Shoemaker                                                         E-mail:  InvestorRelations@oxfordinc.com                     Oxford Industries, Inc. Consolidated Balance Sheets (in thousands, except par amounts) (unaudited)        October 30,   October 31,     2021   2020 ASSETS             Current Assets             Cash and cash equivalents   $ 37,976     $ 53,071   Short-term investments     150,036       —   Receivables, net     46,266       38,726   Inventories, net     90,981       148,740   Income tax receivable     18,085       787   Prepaid expenses and other current assets     23,609       21,139   Total Current Assets   $ 366,953     $ 262,463   Property and equipment, net     156,672       178,029   Intangible assets, net     155,527       156,464   Goodwill     23,909       23,857   Operating lease assets     200,508       238,259   Other assets, net     29,234       42,945   Total Assets   $ 932,803     $ 902,017                 LIABILITIES AND SHAREHOLDERS' EQUITY              Current Liabilities             Accounts payable   $ 64,709     $ 52,177   Accrued compensation     32,744       17,947   Current portion of operating lease liabilities     58,287       62,839   Accrued expenses and other liabilities     51,432       43,426   Total Current Liabilities   $ 207,172     $ 176,389   Long-term debt     —       34,802   Non-current portion of operating lease liabilities     206,484       244,970   Other non-current liabilities     21,779       18,394   Deferred income taxes     1,899       8,516   Shareholders' Equity             Common stock, $1.00 par value per share     16,891       16,884   Additional paid-in capital     160,421       154,103   Retained earnings     321,238       252,392   Accumulated other comprehensive loss     (3,081 )     (4,433 ) Total Shareholders' Equity   $ 495,469     $ 418,946   Total Liabilities and Shareholders' Equity   $ 932,803     $ 902,017                     Oxford Industries, Inc. Consolidated Statements of Operations (in thousands, except per share amounts) (unaudited)        Third Quarter      First Nine Months     Fiscal 2021   Fiscal 2020     Fiscal 2019   Fiscal 2021   Fiscal 2020   Fiscal 2019 Net sales   $ 247,729   $ 175,135     $ 241,221   $ 842,163   $ 527,466     $ 825,194 Cost of goods sold     95,191     78,866       108,241     313,414     232,386       346,620 Gross profit   $ 152,538   $ 96,269     $ 132,980   $ 528,749   $ 295,080     $ 478,574 SG&A     137,505     113,537       134,231     420,997     352,201       417,448 Impairment of goodwill and intangible assets     —     —       —     —     60,452       — Royalties and other operating income     15,574     3,550       3,845     25,744     10,349       11,469 Operating income (loss)   $ 30,607   $ (13,718 )   $ 2,594   $ 133,496   $ (107,224 )   $ 72,595 Interest expense, net     222     339       81     685     1,673       1,171 Earnings (loss) before income taxes   $ 30,385   $ (14,057 )   $ 2,513   $ 132,811   $ (108,897 )   $ 71,424 Income tax provision (benefit)     4,400     (3,453 )     845     26,898     (25,422 )     18,263 Net earnings (loss)   $ 25,985   $ (10,604 )   $ 1,668   $ 105,913   $ (83,475 )   $ 53,161                                       Net earnings (loss) per share:                                      Basic   $ 1.56   $ (0.64 )   $ 0.10   $ 6.37   $ (5.04 )   $ 3.17 Diluted   $ 1.54   $ (0.64 )   $ 0.10   $ 6.29   $ (5.04 )   $ 3.15 Weighted average shares outstanding:                                      Basic     16,649     16,568       16,773     16,627     16,576       16,748 Diluted     16,872     16,568       16,934     16,841     16,576       16,896 Dividends declared per share   $ 0.42   $ 0.25     $ 0.37   $ 1.21   $ 0.75     $ 1.11                                           Oxford Industries, Inc. Consolidated Statements of Cash Flows (in thousands) (unaudited)     First Nine Months     Fiscal 2021      Fiscal 2020 Cash Flows From Operating Activities:             Net earnings (loss)   $ 105,913     $ (83,475 ) Adjustments to reconcile net earnings (loss) to cash flows from operating activities:             Depreciation     28,592       33,389   Amortization of intangible assets     660       834   Impairment of goodwill and intangible assets     —       60,452   Equity compensation expense     5,854       5,626   Gain on sale of investment in unconsolidated entity     (11,586 )     —   Amortization of deferred financing costs     258       258   Change in fair value of contingent consideration     786       —   Deferred income taxes     3,115       (8,024 ) Changes in operating assets and liabilities, net of acquisitions and dispositions:              Receivables, net     (14,341 )     19,662   Inventories, net     32,544       3,716   Income tax receivable     (109 )     75   Prepaid expenses and other current assets     (3,238 )     4,275   Current liabilities     10,361       (747 ) Other balance sheet changes     (1,724 )     (13,364 ) Cash provided by operating activities   $ 157,085     $ 22,677   Cash Flows From Investing activities             Purchases of property and equipment     (25,132 )     (21,916 ) Purchases of short-term investments     (150,000 )     —   Proceeds from sale of investment in unconsolidated entity     14,586       —   Other investing activities     (2,000 )     (3,000 ) Cash used in investing activities   $ (162,546 )   $ (24,916 ) Cash Flows From Financing Activities:             Repayment of revolving credit arrangements     —       (222,896 ) Proceeds from revolving credit arrangements     —       257,698   Repurchase of common stock     —       (18,053 ) Proceeds from issuance of common stock     1,044       1,097   Repurchase of equity awards for employee tax withholding liabilities     (2,983 )     (1,870 ) Cash dividends paid     (20,447 )     (12,706 ) Other financing activities  .....»»

Udemy Reports Third Quarter 2021 Results.....»»

Winc Reports Third Quarter 2021 Financial Results.....»»

Stitch Fix Inc (NASDAQ: SFIX) shares dropped 22.8% on Wednesday after the company slashed its full-year revenue guidance. On Tuesday, Stitch Fix reported a fiscal first-quarter adjusted EPS loss of 2 cents, beating consensus analyst estimates of a 14-cent loss. First-quarter revenue of $581 million also topped analyst expectations of $571 million. Revenue was up 19% from a year ago. Active clients were up 11% to 4.18 million, missing analyst estimates of 4.23 million. Net revenue per client was up 12% to a record $524 in the quarter. Stitch Fix also said the platform added more than 20 additional product brands in the quarter, including Adidas AG - ADR (OTC: ADDYY) and Vans. Looking ahead, Stitch Fix reduced its full-year revenue growth guidance from at ...Full story available on Benzinga.com.....»»

MIND Technology, Inc. Reports Fiscal 2022 Third Quarter Results.....»»

Greif Reports Fourth Quarter and Fiscal 2021 Results.....»»

STAMFORD, Conn., Dec. 08, 2021 (GLOBE NEWSWIRE) -- Star Group, L.P. (the "Company" or "Star") (NYSE:SGU), a home energy distributor and services provider, today announced financial results for the fiscal 2021 fourth quarter and year ended September 30, 2021. Three Months Ended September 30, 2021 Compared to the Three Months Ended September 30, 2020For the fiscal 2021 fourth quarter, Star reported a 29.1 percent increase in total revenue to $236.6 million compared with $183.3 million in the prior-year period, reflecting an increase in selling prices and higher volume of home heating oil and propane sold. The volume of home heating oil and propane sold during the fiscal 2021 fourth quarter increased by 1.8 million gallons, or 9.7 percent, to 20.8 million gallons as the additional volume provided by acquisitions was only partially offset by net customer attrition. Star's net loss declined by $7.0 million in the quarter, to $23.2 million, due to a favorable change in the fair value of derivative instruments of $6.6 million and the absence of a non-cash charge of $5.7 million recorded in the fourth quarter of fiscal 2020 relating to the sale of certain non-strategic assets, subsequently completed in October 2020. The positive impact from these factors was partially offset by a decline in the Company's income tax benefit of $4.5 million. The Company reported a fourth quarter Adjusted EBITDA loss (a non-GAAP measure defined below) that increased by $0.4 million, to $27.6 million, as higher operating expenses were almost entirely offset by higher home heating oil and propane volumes and the impact from improved home heating oil and propane per gallon margins. "I'm pleased to say that, as we turn the corner on fiscal 2021, we ended the year with solid adjusted EBITDA and underlying results, even with slightly lower volumes and the lingering impact from COVID-19 on certain parts of our business," said Jeff Woosnam, Star Group's President and Chief Executive Officer. "Given that we did not benefit as much from our weather hedge in 2021 – nor, conversely, experience unusually cold weather as in last year's fiscal third quarter – the Company performed well, which speaks to the talent of our staff, dedication to customer service, and broad operating footprint. Our net customer attrition was in line with fiscal 2020, and we completed five acquisitions which, in aggregate, generate nearly 13 million gallons of product annually. While facing the normal challenges associated with higher oil and propane costs going forward, we're ready for the next heating season and remain dedicated to delivering high quality service and solid shareholder returns." Fiscal Year Ended September 30, 2021 Compared to Fiscal Year Ended September 30, 2020For fiscal 2021, Star reported a 2.0 percent increase in total revenue to $1.5 billion, as higher sales of motor fuel and other petroleum products and greater installation and service revenue more than offset the impact from lower home heating oil and propane volumes and reduced selling prices during the heating season. The volume of home heating oil and propane sold during fiscal 2021 decreased by 7.7 million gallons, or 2.4 percent, to 305.9 million gallons, as slightly warmer temperatures and net customer attrition more than offset the impact from acquisitions and other factors. Temperatures in Star's geographic areas of operation for fiscal 2021 were 1.1 percent warmer than during the prior year comparable period and 10.7 percent warmer than normal, as reported by the National Oceanic and Atmospheric Administration. Net income rose by $31.8 million, to $87.7 million, primarily due to a favorable change in the fair value of derivative instruments of $38.9 million, the absence of a non-cash charge of $5.7 million recorded in the fourth quarter of fiscal 2020 relating to the subsequent sale of certain non-strategic assets, and lower interest expense of $1.9 million, partially offset by an increase in income tax expense of $13.1 million and a $2.8 million decrease in Adjusted EBITDA. Adjusted EBITDA decreased by $2.8 million, to $127.5 million, in fiscal 2021. Lower total operating expenses in the base business of $5.8 million, higher home heating oil and propane margins and the Adjusted EBITDA from acquisitions of $2.8 million were more than offset by a $6.7 million decline in the benefit recorded under the Company's weather hedge contract and the impact from lower home heating oil and propane volumes. While temperatures were warmer for fiscal 2021 than in the prior year's comparable period, temperatures during the weather hedge period for fiscal 2021 were colder than in fiscal 2020, thus the lower weather hedge benefit. EBITDA and Adjusted EBITDA (Non-GAAP Financial Measures)EBITDA (Earnings from continuing operations before net interest expense, income taxes, depreciation and amortization) and Adjusted EBITDA (Earnings from continuing operations before net interest expense, income taxes, depreciation and amortization, (increase) decrease in the fair value of derivatives, other income (loss), net, multiemployer pension plan withdrawal charge, gain or loss on debt redemption, goodwill impairment, and other non-cash and non-operating charges) are non-GAAP financial measures that are used as supplemental financial measures by management and external users of the Company's financial statements, such as investors, commercial banks and research analysts, to assess Star's position with regard to the following: compliance with certain financial covenants included in our debt agreements; financial performance without regard to financing methods, capital structure, income taxes or historical cost basis; operating performance and return on invested capital compared to those of other companies in the retail distribution of refined petroleum products, without regard to financing methods and capital structure; ability to generate cash sufficient to pay interest on our indebtedness and to make distributions to our partners; and the viability of acquisitions and capital expenditure projects and the overall rates of return of alternative investment opportunities. The method of calculating Adjusted EBITDA may not be consistent with that of other companies, and EBITDA and Adjusted EBITDA both have limitations as analytical tools and so should not be viewed in isolation but in conjunction with measurements that are computed in accordance with GAAP. Some of the limitations of EBITDA and Adjusted EBITDA are as follows: EBITDA and Adjusted EBITDA do not reflect cash used for capital expenditures; although depreciation and amortization are non-cash charges, the assets being depreciated or amortized often will have to be replaced and EBITDA and Adjusted EBITDA do not reflect the cash requirements for such replacements; EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, working capital; EBITDA and Adjusted EBITDA do not reflect the cash necessary to make payments of interest or principal on indebtedness; and EBITDA and Adjusted EBITDA do not reflect the cash required to pay taxes. REMINDER:Members of Star's management team will host a webcast and conference call at 11:00 a.m. Eastern Time tomorrow, December 9, 2021. The webcast will be accessible on the company's website, at www.stargrouplp.com, and the telephone number for the conference call is 888-346-3470 (or 412-317-5169 for international callers). About Star Group, L.P.Star Group, L.P. is a full service provider specializing in the sale of home heating products and services to residential and commercial customers to heat their homes and buildings. The Company also sells and services heating and air conditioning equipment to its home heating oil and propane customers and, to a lesser extent, provides these offerings to customers outside of its home heating oil and propane customer base. In certain of Star's marketing areas, the Company provides plumbing services, primarily to its home heating oil and propane customer base. Star also sells diesel, gasoline and home heating oil on a delivery only basis. We believe Star is the nation's largest retail distributor of home heating oil based upon sales volume. Including its propane locations, Star serves customers in the more northern and eastern states within the Northeast and Mid-Atlantic U.S. regions. Additional information is available by obtaining the Company's SEC filings at www.sec.gov and by visiting Star's website at www.stargrouplp.com, where unit holders may request a hard copy of Star's complete audited financial statements free of charge. Forward Looking InformationThis news release includes "forward-looking statements" which represent the Company's expectations or beliefs concerning future events that involve risks and uncertainties, including those associated with the severity and duration of the novel coronavirus, or COVID-19, pandemic, the pandemic's impact on the U.S. and global economies, the timing, scope and effectiveness of federal, state and local governmental responses to the pandemic, the effect of weather conditions on our financial performance; the price and supply of the products that we sell; the consumption patterns of our customers; our ability to obtain satisfactory gross profit margins; our ability to obtain new customers and retain existing customers; our ability to make strategic acquisitions; the impact of litigation; our ability to contract for our current and future supply needs; natural gas conversions; future union relations and the outcome of current and future union negotiations; the impact of current and future governmental regulations, including climate change, environmental, health and safety regulations; the ability to attract and retain employees; customer creditworthiness; counterparty creditworthiness; marketing plans; cyber-attacks; inflation, global supply chain issues, labor shortages, general economic conditions and new technology. All statements other than statements of historical facts included in this news release are forward-looking statements. Without limiting the foregoing, the words "believe," "anticipate," "plan," "expect," "seek," "estimate" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct and actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to, those set forth under the heading "Risk Factors" and "Business Strategy" in our Annual Report on Form 10-K (the "Form 10-K") for the fiscal year ended September 30, 2021. Important factors that could cause actual results to differ materially from the Company's expectations ("Cautionary Statements") are disclosed in this news release and in the Company's Form 10-K and our Quarterly Reports on Form 10-Q. Currently, one of the most significant factors, however, is the potential adverse effect of the pandemic of the novel coronavirus, or COVID-19, on the financial condition, results of operations, cash flows and performance of the Company and its customers and counterparties and the global economy and financial markets. The extent to which COVID-19 impacts us and our customers will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the Cautionary Statements. Unless otherwise required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this news release. (financials follow) STAR GROUP, L.P. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS   September 30, (in thousands) 2021   2020 ASSETS       Current assets       Cash and cash equivalents $ 4,767     $ 56,911   Receivables, net of allowance of $4,779 and $6,121, respectively   99,680       83,594   Inventories   61,183       50,256   Fair asset value of derivative instruments   26,222       —   Prepaid expenses and other current assets   30,140       29,554   Assets held for sale   —       6,030   Total current assets   221,992       226,345   Property and equipment, net   99,123       93,495   Operating lease right-of-use assets   95,839       99,776   Goodwill   253,398       240,327   Intangibles, net   95,474       90,293   Restricted cash   250       250   Captive insurance collateral   69,933       69,787   Deferred charges and other assets, net   17,854       18,343   Total assets $ 853,863     $ 838,616   LIABILITIES AND PARTNERS' CAPITAL       Current liabilities       Accounts payable $ 37,291     $ 30,827   Liabilities held for sale   —       1,265   Revolving credit facility borrowings   8,618       —   Fair liability value of derivative instruments   —       11,437   Current maturities of long-term debt   17,621       13,000   Current portion of operating lease liabilities   16,446       19,139   Accrued expenses and other current liabilities   121,221       127,286   Unearned service contract revenue   56,972       58,430   Customer credit balances   86,828       83,471   Total current liabilities   344,997       344,855   Long-term debt   92,385       109,805   Long-term operating lease liabilities   84,019       85,908   Deferred tax liabilities, net   29,014       17,227   Other long-term liabilities   25,244       25,001   Partners' capital               Common unitholders   295,063       273,283   General partner   (2,821 )     (2,506 ) Accumulated other comprehensive loss, net of taxes   (14,038 )     (14,957 ) Total partners' capital   278,204       255,820   Total liabilities and partners' capital $ 853,863     $ 838,616           STAR GROUP, L.P. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS.....»»

HAVERTOWN, Pa., Dec. 08, 2021 (GLOBE NEWSWIRE) -- AMREP Corporation (NYSE:AXR) today reported net income of $3,326,000, or $0.45 per diluted share, for its 2022 fiscal second quarter ended October 31, 2021 compared to net income of $798,000, or $0.10 per diluted share, for the same period of the prior year. For the first six months of 2022, AMREP had net income of $4,963,000, or $0.67 per diluted share, compared to net income of $1,391,000, or $0.17 per diluted share, for the same period of 2021. Revenues were $16,236,000 and $26,743,000 for the second quarter and first six months of 2022 and $9,256,000 and $13,462,000 for the second quarter and first six months of 2021. More information about the Company's financial performance may be found in AMREP Corporation's financial statements on Form 10-Q which have today been filed with the Securities and Exchange Commission and will be available on AMREP's website (www.amrepcorp.com/sec-filings/). AMREP Corporation, through its subsidiaries, is a major holder of land, leading developer of real estate and award-winning homebuilder in New Mexico.         FINANCIAL HIGHLIGHTS   Three Months Ended October 31,     2021     2020 Revenues $ 16,236,000   $ 9,256,000 Net income (loss) $.....»»

Video game retailer GameStop Corp (NYSE: GME) reported third quarter financial results after market close Wednesday. What Happened: GameStop reported net sales of $1.3 billion in the third quarter, up 29% year-over-year. Revenue beat the consensus estimate of $1.19 billion. The company credited new and expanded partnerships with brands including Samsung, LG, Razer and Vizio Holding (NYSE: VZIO) to helping quarterly growth. GameStop ramped up its inventory, which was $1.14 billion at the end of the third quarter, compared to $861 million in the prior year’s period. Inventory was ...Full story available on Benzinga.com.....»»

MONTREAL, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Nuvei Corporation ("Nuvei" or the "Company") (NASDAQ:NVEI) (TSX:NVEI), the global payment technology partner of thriving brands, today reaffirmed the financial outlook it disclosed on November 9, 2021 for full year 2021 and reiterated its long-term growth targets for total volume, revenue and adjusted EBITDA margin also disclosed on that date. Nuvei believes the recent report issued by a short seller is intentionally misleading and draws inaccurate conclusions, innuendo and character attacks on key executives, among numerous other issues. The personal attacks on Nuvei executives made by the short seller appear to have been made to distract from the Company's achievements and progress. The short seller admits that it stands to profit significantly from Nuvei's stock price decline, at the expense of Nuvei's shareholders, customers and employees. Nuvei remains focused on executing against its strategy. Investors are encouraged to read the Company's financial results for the third quarter ended September 30, 2021 for more details on Nuvei's performance and its outlook. The Company urges investors to not make decisions based on the short seller report and to review public filings for material information that pertains to its business. About Nuvei We are Nuvei (TSX:NVEI), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform provides seamless pay-in and payout capabilities, connecting merchants with their customers in over 200 ...Full story available on Benzinga.com.....»»

Annual recurring revenue grows 20% year over year to US$149.6 million Total subscription and support revenue increases by 20% for Q3 to US$34.9 million and by 19% fiscal year to date to US$98.5 million TORONTO, Dec. 08, 2021 (GLOBE NEWSWIRE) -- D2L Inc. (TSX:DTOL) ("D2L" or the "Company"), a global learning technology leader, today announced financial results for its fiscal 2022 third quarter ended October 31, 2021. "We're having a strong year at D2L, and we experienced continued momentum across the business during the third quarter," said John Baker, President and CEO of D2L. "Our results reflect an increase in new customers and expanded relationships with existing customers – early returns from our investments in sales – as well as sustained adoption of digital learning experiences across our core markets. Our year-to-date performance puts us on track to achieve approximately 20% revenue growth for the full year." Mr. Baker added: "In our more than 20-year history, the market backdrop and opportunity have never been stronger. D2L's mission to transform the way the world learns is also more vital than ever, as we work with educators to tackle learning loss from the pandemic and support employers to meet the pressing need for upskilling in the workforce. With new growth capital from the recent IPO, we are executing on an expanded strategy to press our advantage and become the category leader in learning." Third Quarter Fiscal 2022 Financial Highlights (All amounts are in U.S. dollars unless otherwise indicated) Annual Recurring Revenue1 increased by $25.0 million or 20% year-over-year to $149.6 million as at October 31, 2021, compared with $124.6 million as at October 31, 2020. Revenue of $39.1 million, up 18% from the comparative period in the prior year. Subscription and support revenue of $34.9 million, an increase of 20% over the same period in the prior year. Adjusted Gross Profit1 of $25.1 million (64.2% of revenue), an increase of 30% from Adjusted Gross Profit of $19.3 million (58.1% of revenue) in the prior year. Gross Profit of $17.0 million, compared with $19.3 million in the prior year. Gross profit in the current period included one-time, non-cash stock-based compensation expenses of $8.1 million related to the unwinding of an Employee Stock Trust as part of the Company's initial public offering ("IPO"). Adjusted EBITDA1 loss of ($0.3) million, compared to Adjusted EBITDA of $2.1 million for the comparative period in the prior year. Net loss of $41.5 million, compared with a net loss of $28.1 million in the same quarter of the prior year. The higher net loss mainly reflects one-time, non-cash stock-based compensation expenses of $65.8 million related to the unwinding of the Employee Stock Trust. These were partly offset by a one-time fair value gain of $25.9 million on the Company's redeemable convertible preferred shares, also related to the IPO. Cash flow from operating activities of $3.5 million, versus $10.1 million in the prior year, and Free Cash Flow1 of $3.2 million, compared with $9.5 million in the prior year. Subsequent to quarter end, D2L completed its IPO for total gross proceeds of C$150.0 million (C$88 million to D2L after factoring the secondary offering and underwriter commissions). 1 Please refer to "Non-IFRS Financial Measures and Reconciliation of Non-IFRS Financial Measures" section of this press release. Third Quarter Fiscal 2022 Business & Operating Highlights Signed a new customer agreement with the State University of New York (SUNY), the largest comprehensive education system in the U.S., to deliver the D2L Brightspace learning environment to 400,000 learners across SUNY's 64 colleges and universities. Signed a new customer agreement with the University of Groningen, one of the oldest in the region and one of the most prestigious in the world, serving more than 34,000 students. D2L Brightspace was selected to replace a legacy learning platform. D2L now supports >40% of the top universities across the Netherlands. Signed a new customer agreement with Lee Valley Tools, a Canadian business serving customers around the world, to help onboard, train and engage employees across the country using D2L Brightspace. Expanded a customer agreement with Energy Safety Canada, the national safety association for Canada's oil and gas industry. D2L Brightspace will be used to help develop and deliver health and safety training courses to ensure workers are ready to work safely. Acquired exclusive course content, development tools, and talent from Bayfield Design, a provider of digital learning courseware, expanding cross-sell opportunities within the Company's K-12 customer base. Expanded a strategic partnership with Ellucian to better serve customers with an integrated platform that unites people, processes, data and technology to create highly personalized learning experiences.   D2L Wave welcomed University of Manitoba, McMaster University, the University of Guelph and York University as academic partners. D2L Wave provides working professionals with opportunities to upskill and reskill through access to an online catalog of high-quality education options from leading educational institutions.  Launched a new Parent and Guardian App to enhance learning collaboration post-pandemic – making it easier than ever for teachers and families to connect, stay informed, and receive notifications to support learning.  Subsequent to quarter end, signed a new customer agreement with British Columbia's Ministry of Education to help deliver Brightspace's exceptional, flexible learning experiences for up to 670,000 learners in K-12 across the province.  Third Quarter Fiscal 2022 Financial Results Selected Financial Measures                                   Three months ended October 31,   Nine months ended October 31,   2021   2020   Change   Change   2021   2020   Change   Change $   $   $   %   $   $   $   % Subscription & Support Revenue 34,930   29,219   5,711   19.5%   98,497   82,626   15,871   19.2% Professional Services & Other Revenue 4,214   3,953   261   6.6%   11,977   9,810   2,167   22.1% Total Revenue 39,144   33,172   5,972   18.0%   110,474   92,436   18,038   19.5%                                 Gross Profit 17,016   19,261   (2,245)   -11.7%   61,431   57,239   4,192   7.3% Adjusted Gross Profit 1 25,125   19,278   5,847   30.3%   69,602   57,294   12,308   21.5% Adjusted Gross Margin1 64.2%   58.1%           63.0%   62.0%         Net Income (loss) (41,543)   (28,081)   (13,462)   47.9%   (93,793)   (30,329)   (63,464)   -209.3% Adjusted EBITDA (loss)1 (291)   2,102   (2,393)   -113.8%   631   7,041   (6,410)   -91.0% Cash Flow from Operating Activities 3,526   10,120   (6,594)   -65.2%   4,077   18,151   (14,074)   -77.5% Free Cash Flow1 3,200   9,469   (6,269)   -66.2%   3,377   16,736   (13,359)   -79.8% 1 Please refer to "Non-IFRS Financial Measures and Reconciliation of Non-IFRS Financial Measures" section of this press release. Conference Call & WebcastD2L management will host a conference call on Thursday, December 9, 2021 at 8:30 am ET to discuss its third quarter fiscal 2022 financial results. Date:   Thursday, December 9, 2021 Time:   8:30 a.m. (ET) Dial in number:   Canada: 1 (226) 828-7575 or 1 (833) 950-0062 United States: 1 (844) 200-6205Access code: 097764 Webcast:   A live webcast will be available at ir.d2l.com/events-and-presentations/events/ Replay:   Canada: 1 (226) 828-7578 or US: 1 (866) 813-9403(replay code: 991447) Available until December 27, 2021       Forward-Looking InformationThis press release includes statements containing "forward-looking information" within the meaning of applicable securities laws. Forward-looking information may relate to our future financial outlook and anticipated events or results and may include information regarding our financial position, business strategy, growth strategies, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "budget", "scheduled", "estimates", "outlook", "target", "forecasts", "projection", "potential", "prospects", "strategy", "intends", "anticipates", "seek", "believes", "opportunity", "guidance", "aim", "goal" or variations of such words and phrases or statements that certain future conditions, actions, events or results "may", "could", "would", "should", "might", "will", "can", or negative versions thereof, "be taken", "occur", "continue" or "be achieved", and other similar expressions. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. The Company has based the forward-looking information on its current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. This forward-looking information includes, but is not limited to, statements regarding industry trends; our growth rates and growth strategies; addressable markets for our products and solutions; expansion of our product offerings; expectations regarding the growth of our customer base; expectations regarding our revenue and revenue generation potential; our business plans and strategies; and our competitive position in our industry. Forward-looking information is based on certain assumptions and analyses made by the Company in light of management's experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, including the following: the Company's ability to generate revenue while controlling costs and expenses; the Company's ability to manage growth effectively; the ability to seek out, enter into and successfully integrate acquisitions, including the Bayfield Acquisition; business and industry trends, including the success of current and future product development initiatives; positive social development and attitudes toward the pursuit of higher education; the Company's ability to maintain positive relationships with its customer base and strategic partners; the Company's ability to adapt and develop solutions that keep pace with continuing changes in technology, education and customer needs; the ability to patent new technologies and protect intellectual property rights; the Company's ability to comply with security, cybersecurity and accessibility laws, regulations and standards; and the Company's ability to retain key personnel. Although the Company believes that the assumptions underlying such forward-looking information were reasonable when made, they are inherently uncertain and are subject to significant risks and uncertainties and may prove to be incorrect. The Company cautions investors that forward-looking information is not a guarantee of the future and that actual results may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, even if the Company's results of operations, financial condition and liquidity and the development of the industry in which it operates are consistent with the forward-looking information contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including but not limited to the factors described in the "Risk Factors" section of the Company's final long form prospectus dated October 27, 2021. If any of these risks or uncertainties materialize, or if assumptions underlying the forward-looking information prove incorrect, actual results might vary materially from those anticipated in the forward-looking information. Given these risks and uncertainties, investors are cautioned not to place undue reliance on forward-looking information. Any forward-looking information that is contained in this press release speaks only as of the date of such statement, and the Company undertakes no obligation to update any forward-looking information or to publicly announce the results of any revisions to any of those statements to reflect future events or developments, except as required by applicable securities laws. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless specifically expressed as such, and should only be viewed as historical data. About D2L Inc. (TSX:DTOL)D2L is transforming the way the world learns—helping learners of all ages achieve more than they dreamed possible. Working closely with clients all over the world, D2L is supporting millions of people learning online and in person. Our growing global workforce is dedicated to making the best learning products to leave the world better than they found it. Learn more about D2L for K-12, higher education and businesses at www.D2L.com. For further information, please contact: Craig Armitage, Investor Relations ir@d2l.com (416) 347-8954 D2L Inc. Condensed Consolidated Interim Balance Sheets (In U.S. dollars) As at October 31, 2021 and January 31, 2021 (Unaudited)     October 31, 2021   January 31, 2021   Assets       Current assets:       Cash and cash equivalents $ 42,855,903   $ 45,219,561     Trade and other receivables   28,637,213     14,620,383     Uninvoiced revenue   1,690,331     3,090,154     Prepaid expenses   5,403,177     5,355,166     Deferred commissions   3,737,876     3,441,396     Shareholder loan receivable   16,361,988     –         98,686,488     71,726,660           Non-current assets:       Restricted cash   –     84,383     Other receivables   –     207,018     Prepaid expenses   188,718     1,079,974     Deferred income taxes   162,539     237,809     Right-of-use assets   1,732,711     2,932,487     Property and equipment   2,728,885     2,917,308     Deferred commissions   6,706,555     6,174,607     Intangible assets   7,938,950     340,719     Goodwill   4,939,896     –         Total assets $ 123,084,742   $ 85,700,965           Liabilities and Shareholders' Deficiency         Current liabilities:       Accounts payable and accrued liabilities $ 22,792,245   $ 21,779,773     Deferred revenue   89,517,304     68,679,553     Lease liabilities   1,704,238     2,092,319     Consideration payable   9,041,810     –     Redeemable convertible preferred shares   200,211,647     –         323,267,244     92,551,645           Non-current liabilities:       Deferred income taxes   416,037     232,915     Lease liabilities   784,709     2,021,425     Redeemable convertible preferred shares   –     178,183,535         1,200,746     180,437,875      .....»»

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