Market Newsdesk

SEATTLE, Nov. 12, 2020 /PRNewswire/ — Weyerhaeuser Company (NYSE: WY) today announced the appointment of Deidra C. Merriwether, senior vice president of North American sales and services for W.W. Grainger, Inc., to the company’s board of directors. Her appointment is effective immediately and will replace a retiring board member in 2021.

“We are very pleased to welcome Dee to the Weyerhaeuser board of directors,” said Rick R. Holley, chairman of the board of directors. “Dee is a hands-on leader with a deep understanding of customers, finance and international supply chains, and she is adept at building relationships across organizations and industries. She brings exceptional leadership and experience to our board, as well as strong alignment with our core values.”

With 2019 sales of $11.5 billion, Grainger is North America’s leading broad line supplier of maintenance, repair and operating products, with operations primarily in North America, Japan and Europe. Merriwether leads the North American sales organization, which represents the largest portion of the overall Grainger business, and has full profit and loss responsibility for the company’s Latin American and Canadian businesses. Her teams support more than 1.5 million customers across the manufacturing, government and healthcare segments, with a consistent focus on strengthening relationships and empowering customers to achieve success. She joined Grainger in 2013 after more than a decade in various leadership positions with the Sears Holdings Corporation.

ABOUT WEYERHAEUSER

Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in America. Our company is a real estate investment trust. In 2019, we generated $6.6 billion in net sales and employed approximately 9,400 people who serve customers worldwide. We are listed on the Dow Jones Sustainability North America Index. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com. 

For more information contact:

Analysts – Beth Baum, 206-539-3907
Media – Nancy Thompson, 919-861-0342

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SOURCE Weyerhaeuser Company

CEDAR KNOLLS, N.J., Nov. 12, 2020 /PRNewswire/ — MYOS RENS Technology Inc. (“MYOS” or the “Company”) (NASDAQ: MYOS)

As previously announced, on June 30, 2020, MYOS RENS Technology, Inc., a Nevada corporation (“MYOS”), and MedAvail, Inc., a privately-held Delaware corporation (“MedAvail”), entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”), by and among MYOS, MedAvail, and Matrix Merger Sub, Inc., a newly-created wholly-owned subsidiary of MYOS (“Merger Sub”), pursuant to which, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement, Merger Sub will merge with and into MedAvail, with MedAvail being the surviving corporation and a wholly-owned subsidiary of MYOS (the “Merger”). In addition, prior to the Merger, MYOS will contribute substantially all its assets and liabilities to a wholly owned subsidiary, MYOS Corp., a Delaware corporation (“MYOS Corp.”) in exchange for all the outstanding shares of common stock of MYOS Corp., and, the day following the Merger, MYOS shall dividend the shares of stock of MYOS Corp. to MYOS’s shareholders existing as of the October 2, 2020 record date, as a result of which MYOS Corp. will continue the existing business of MYOS as a private company.

Upon completion of the Merger, each outstanding share of MedAvail common stock will be automatically converted into the right to receive 1.26 shares of MYOS common stock, as adjusted for the reverse stock split being effected in connection with the Merger (which equates to 15.12 shares of MYOS common stock before adjusting for the expected reverse stock split of one share of MYOS common stock for every 12 shares of MYOS common stock). Based on the anticipated exchange ratio, immediately after the Merger, existing MedAvail security holders are expected to own in the aggregate approximately 97.2% of the combined company, and existing MYOS security holders are expected to own approximately 2.8% of the combined company. The exchange ratio may be further adjusted based on any changes to each party’s capitalization prior to closing.

Additional Information and Where to Find It

MYOS has filed with the Securities and Exchange Commission (“SEC”), and the parties have furnished to the security holders of MYOS and MedAvail, a Registration Statement on Form S-4 (“Form S-4”), which was declared effective by the SEC on October 15, 2020, which also constituted a proxy statement/prospectus/information statement of MYOS and included an information statement of MedAvail in connection with the proposed Merger. The Proxy Statement/Prospectus/Information Statement described above contains important information about MYOS, MedAvail, the proposed Merger and related matters. Investors are urged to read the Proxy Statement/Prospectus/Information Statement carefully. Investors will be able to obtain free copies of these documents, and other documents filed with the SEC by MYOS, through the website maintained by the SEC at www.sec.gov. In addition, investors will be able to obtain free copies of these documents from MYOS by going to MYOS’s Investor Relations web page at https://ir.myosrens.com/ and clicking on the link titled “SEC Filings” or by contacting MYOS’s Investor Relations group at 973-509-0444 or [email protected]

No Offer or Solicitation

This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. 

Participants in the Solicitation

The respective directors and executive officers of MYOS and MedAvail may be deemed to be participants in the solicitation of proxies from the shareholders of MYOS and written consent of the stockholders of MedAvail in connection with the proposed Merger. Information regarding the interests of these directors and executive officers in the proposed Merger will be included in the Proxy Statement/Prospectus/Information Statement described above. Additional information regarding MYOS’s directors and executive officers is included in MYOS’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 24, 2020, and in MYOS’s proxy statement for its 2019 Annual Meeting of Stockholders, which was filed with the SEC on December 5, 2019. These documents are available from MYOS free of charge as described above.

About MYOS RENS Technology Inc.
MYOS RENS Technology Inc. (MYOS), “The Muscle Company^®“, is a Cedar Knolls, NJ-based advanced nutrition company that develops and markets products that improve muscle health and performance. MYOS is the owner of Fortetropin^®, a fertilized egg yolk-based product manufactured via a proprietary process to retain and optimize its biological activity. Fortetropin has been clinically shown to increase muscle size, lean body mass and reduce muscle atrophy. MYOS believes Fortetropin has the potential to redefine existing standards of physical health and wellness and produces muscle health support products featuring Fortetropin under the names of Yolked^®, Physician Muscle Health Formula^®, MYOS Canine Muscle Formula^®, (Regular & Vet Strength) and Qurr^®. For more information, please visit www.myosrens.com.

Forward-Looking Statements

This release contains forward-looking statements which include, but are not limited to, statements regarding expected timing, completion and effects of the proposed Merger. These forward-looking statements are subject to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. MYOS’s expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks and changes in circumstances, including but not limited to risks and uncertainties related to: the ability of the parties to consummate the proposed Merger, satisfaction of closing conditions precedent to the consummation of the proposed Merger, potential delays in consummating the Merger and the ability of MYOS to timely and successfully achieve the anticipated benefits of the Merger. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption “Risk Factors” in the Form S-4 and elsewhere in MYOS’s most recent filings with the SEC, including MYOS’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020 and any prior or subsequent reports on Form 10-K, Form 10-Q or Form 8-K filed with the SEC from time to time and available at www.sec.gov. These documents can be accessed on MYOS’s Investor Relations page at https://ir.myosrens.com/ by clicking on the link titled “SEC Filings.” The risks and uncertainties may be amplified by the COVID-19 pandemic, which has caused significant economic uncertainty. The extent to which the COVID-19 pandemic impacts MYOS’s and MedAvail’s businesses, operations, and financial results, including the duration and magnitude of such effects, will depend on numerous factors, which are unpredictable, including, but not limited to, the duration and spread of the outbreak, its severity, the actions to contain the virus or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume.

The forward-looking statements included in this communication are made only as of the date hereof. MYOS and MedAvail assume no obligation and does not intend to update these forward-looking statements, except as required by law.

Investor Relations:

MYOS RENS Technology
Joanne Goodford
Phone: 973-509-0444
Email: [email protected]

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SOURCE MYOS RENS Technology

UNION, N.J., Nov. 12, 2020 /PRNewswire/ — Bed Bath & Beyond Inc. (Nasdaq: BBBY) today announced the completion of the sale of its Christmas Tree Shops retail banner, its institutional Linen Holdings business and a distribution center located in Florence, NJ.  Total cash proceeds from the three separate sale agreements were approximately $250 million.

Mark Tritton, President and Chief Executive Officer said, “The timely completion of these transactions represents another important milestone in our comprehensive plan to simplify our portfolio, unlock the potential of our business and extend our authority in the Home, Baby, Beauty and Wellness markets.  We will continue to optimize our portfolio, including the potential sale of additional non-core assets.  Since joining Bed Bath & Beyond a little over a year ago, our team has created greater financial flexibility and strategic focus through the divestiture of non-core assets and banners, generating over $750 million to re-invest in our digital-first, omni-always transformation and drive strong and sustainable total shareholder return.” 

Bed Bath & Beyond’s capital allocation principles include investing for growth and transformation, ensuring financial resilience and returning cash to shareholders.  The Company recently launched a $225 million accelerated share repurchase, as part of an authorized share repurchase program totaling up to $675 million over the next three years. 

Advisors to Bed Bath & Beyond on the Christmas Tree Shops and Linen Holdings transactions included B. Riley Securities Inc. and Bryan Cave Leighton Paisner; JLL advised the Company on the real estate transaction.

About the Company
 
Bed Bath & Beyond Inc. and subsidiaries (the “Company”) is an omnichannel retailer that makes it easy for our customers to feel at home. The Company sells a wide assortment of merchandise in the Home, Baby, Beauty and Wellness markets. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond.

Forward Looking Statements 
This press release contains forward-looking statements, including, but not limited to, the Company’s progress and anticipated progress towards its long-term objectives, plans with respect to potential asset sales, as well as more generally the status of its future liquidity and financial condition. Many of these forward-looking statements can be identified by use of words such as may, will, expect, anticipate, approximate, estimate, assume, continue, model, project, plan, goal, and similar words and phrases, although the absence of those words does not necessarily mean that statements are not forward-looking. The Company’s actual results and future financial condition may differ materially from those expressed in any such forward-looking statements as a result of many factors. Such factors include, without limitation: general economic conditions including the housing market, a challenging overall macroeconomic environment and related changes in the retailing environment; risks associated with COVID-19 and the governmental responses to it, including its impacts across the Company’s businesses on demand and operations, as well as on the operations of the Company’s suppliers and other business partners, and the effectiveness of the Company’s actions taken in response to these risks; consumer preferences, spending habits and adoption of new technologies; demographics and other macroeconomic factors that may impact the level of spending for the types of merchandise sold by the Company; civil disturbances and terrorist acts; unusual weather patterns and natural disasters; competition from existing and potential competitors across all channels; pricing pressures; liquidity; the ability to achieve anticipated cost savings, and to not exceed anticipated costs, associated with organizational changes and investments, including the Company’s strategic restructuring program; the ability to attract and retain qualified employees in all areas of the organization; the cost of labor, merchandise and other costs and expenses; potential supply chain disruption due to trade restrictions, and other factors such as natural disasters, pandemics, including the COVID-19 pandemic, political instability, labor disturbances, product recalls, financial or operational instability of suppliers or carriers, and other items; the ability to find suitable locations at acceptable occupancy costs and other terms to support the Company’s plans for new stores; the ability to establish and profitably maintain the appropriate mix of digital and physical presence in the markets it serves; the ability to assess and implement technologies in support of the Company’s development of its omnichannel capabilities; the ability to effectively and timely adjust the Company’s plans in the face of the rapidly changing retail and economic environment, including in response to the COVID-19 pandemic; uncertainty in financial markets; volatility in the price of the Company’s common stock and its effect, and the effect of other factors, including the COVID-19 pandemic, on the Company’s capital allocation strategy; risks associated with the ability to achieve a successful outcome for its business concepts and to otherwise achieve its business strategies; the impact of intangible asset and other impairments; disruptions to the Company’s information technology systems including but not limited to security breaches of systems protecting consumer and employee information or other types of cybercrimes or cybersecurity attacks; reputational risk arising from challenges to the Company’s or a third party product or service supplier’s compliance with various laws, regulations or standards, including those related to labor, health, safety, privacy or the environment; reputational risk arising from third-party merchandise or service vendor performance in direct home delivery or assembly of product for customers; changes to statutory, regulatory and legal requirements, including without limitation proposed changes affecting international trade; changes to, or new, tax laws or interpretation of existing tax laws; new, or developments in existing, litigation, claims or assessments; changes to, or new, accounting standards; foreign currency exchange rate fluctuations; and the other factors summarized in the Company’s reports filed with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update its forward-looking statements.

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SOURCE Bed Bath & Beyond Inc.

CARMEL, Ind., Nov. 12, 2020 /PRNewswire/ — KAR Auction Services, Inc., d/b/a/ KAR Global (NYSE: KAR) has completed the acquisition of BacklotCars, Inc. The addition of BacklotCars supplements the company’s suite of leading digital marketplaces, including TradeRev, ADESA.com and OPENLANE, North America’s largest private label platform for exclusive off-lease inventory. BacklotCars also deepens the company’s footprint in key strategic markets while anchoring continued expansion into new geographies to meet dealer demand.

“We are laser-focused on providing dealers with the most efficient, convenient and economically advantageous digital marketplaces to sell and source inventory,” said Peter Kelly, president of KAR Global. “BacklotCars is one of the fastest-growing dealer-to-dealer platforms in the country, and TradeRev’s growth continued to accelerate through the third quarter. Combine that strong momentum with the buyer-base, technology, analytic capabilities and expertise from ADESA and across the KAR platform, and I think you’ve got a pretty compelling solution for any dealer in any market.”

In recent months, KAR has evolved to a 100% digital model, and the addition of BacklotCars further advances the company’s digital transformation strategy. BacklotCars’ 24/7 “bid-ask” marketplace format complements the flexible buying and selling options already available at ADESA, including Simulcast+^SM, the industry’s first fully automated auction platform launched earlier this year. BacklotCars’ customers will also now benefit from ADESA’s network of 74 facilities where the company has invested heavily to streamline and digitize its storage, inspection, remarketing and reconditioning operations.

“There is so much energy and excitement around this combination with our employees and with our customers,” said Justin Davis, co-founder and president of BacklotCars. “I’m proud of what the BacklotCars team has built and the thousands of strong dealer partnerships we’ve developed over the past six years. And I can’t wait to introduce the innovation, power and fierce entrepreneurial spirit of KAR Global to our culture, our products and our customer base.”

Davis will report to Kelly, and as previously reported, BacklotCars co-founders Josh Parsons, Ryan Davis, and Fabricio Solanes will also remain with the company. Though the companies are actively integrating, there are no immediate changes to either company’s product offerings, pricing or customer agreements.

“We’re committed to a disruption-free integration for our customers and advancing BacklotCars’ vision of making wholesale easy so that dealers can be more successful,” said Kelly. “We are excited to be part of that vision and to bring the BacklotCars offering to more dealers across the United States.”

About KAR

KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR), provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR Global’s unique end-to-end platform supports whole car, financing, logistics and other ancillary and related services, including the sale of nearly 3.8 million units valued at approximately $40 billion through our auctions in 2019. Our integrated physical, online and mobile marketplaces reduce risk, improve transparency and streamline transactions for customers in more than 80 countries. Headquartered in Carmel, Indiana, KAR Global has employees across the United States, Canada, Mexico, U.K. and Europe. For more information and the latest KAR Global news, go to www.karglobal.com and follow us on Twitter @KARspeaks.

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SOURCE KAR Global

TEL-AVIV, Israel, Nov. 12, 2020 /PRNewswire/ — Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe and Israel, today announced that it will hold an extraordinary general meeting of shareholders (the “Meeting“) on Thursday, December 17, 2020, at 2:00 p.m., Israel time, and thereafter as it may be adjourned or postponed from time to time. As part of our precautions regarding the Coronavirus (COVID-19), we will enable participation and convening of the meeting via teleconference at the following dial-in numbers and code: Israel dial-in number: 03-9180699, US dial-in number: 1-866-457-3406 / 1-866-297-0242 – Conference code: 06114#.

The agenda of the Meeting will be as follows:

1. Election of Daniel Vaknin as a new external director for an initial three-year term;
2. Approval of terms of service of Mr. Daniel Vaknin, the external director nomine;
3. Approval of terms of service of Mr. Ehud Gil, a member of the Board of Directors.

Shareholders of record as of the close of business on November 17, 2020 will be entitled to vote at the Meeting or any adjournments or postponements thereof. The Company plans to mail a proxy statement that describes the proposals to be considered at the Meeting and a proxy card to record holders on or about November 18, 2020. The proxy statement and proxy card will also be furnished to the Securities and Exchange Commission on Form 6-K on or about November 12, 2020.

Each of the resolutions to be presented at the Meeting requires the affirmative vote of holders of at least a majority of the ordinary shares voted in person or by proxy at the Meeting on the matter presented for passage. In addition, the approval of the proposals under Items 1 and 3, and a portion of the proposal under Item 2, is required to comply with additional special “disinterested” voting requirements as set forth in the proxy statement.

Shareholders wishing to express their position on an agenda item for the Meeting may do so by submitting a written statement to the Company’s offices at the above address by December 7, 2020. Any position statement received will be furnished to the SEC on Form 6-K, which will be available to the public on the SEC’s website at http://www.sec.gov and on the websites of the Israel Securities Authority and Tel Aviv Stock Exchange at http://www.magna.isa.gov.il or http://maya.tase.co.il/, respectively. Eligible shareholders may present proper proposals for inclusion in the Meeting by submitting their proposals to the Company no later than November 19, 2020.

Shareholders may vote their ordinary shares by means of a deed of vote or proxy card, which are required to be received by the Company, along with the documentation set forth in the proxy statement, by 10:00 a.m., Israel time, on December 17, 2020 (four hours prior to the Meeting), to be counted for the Meeting.

About Ellomay Capital Ltd.

Ellomay is an Israeli based company whose shares are registered with the NYSE American and with the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay Capital focuses its business in the renewable energy and power sectors in Europe and Israel.

To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy and Spain, including:

• Approximately 7.9MW of photovoltaic power plants in Spain and a photovoltaic power plant of approximately 9 MW in Israel;
• 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 860MW, representing about 6%-8% of Israel’s total current electricity consumption;
• 51% of Talasol, which is involved in a project to construct a photovoltaic plant with a peak capacity of 300MW in the municipality of Talaván, Cáceres, Spain;
• Groen Gas Goor B.V. and Groen Gas Oude-Tonge B.V., project companies developing anaerobic digestion plants with a green gas production capacity of approximately 375 Nm3/h, in Goor, the Netherlands and 475 Nm3/h, in Oude Tonge, the Netherlands, respectively;
• 75% of Ellomay Pumped Storage (2014) Ltd. (including 6.67% that are held by a trustee in trust for us and other parties), which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel.

Ellomay Capital is controlled by Mr. Shlomo Nehama, Mr. Hemi Raphael and Mr. Ran Fridrich. Mr. Nehama is one of Israel’s prominent businessmen and the former Chairman of Israel’s leading bank, Bank Hapohalim, and Messrs. Raphael and Fridrich both have vast experience in financial and industrial businesses. These controlling shareholders, along with Ellomay’s dedicated professional management, accumulated extensive experience in recognizing suitable business opportunities worldwide. Ellomay believes the expertise of Ellomay’s controlling shareholders and management enables the Company to access the capital markets, as well as assemble global institutional investors and other potential partners. As a result, we believe Ellomay is capable of considering significant and complex transactions, beyond its immediate financial resources.

For more information about Ellomay, visit http://www.ellomay.com.

Information Relating to Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company’s management. All statements, other than statements of historical facts, included in this press release regarding the Company’s plans and objectives, expectations and assumptions of management are forward-looking statements.  The use of certain words, including the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company’s forward-looking statements, including the impact of COVID-19 virus on the Company’s operations and projects, including in connection with steps taken by authorities in countries in which the Company operates, regulatory changes, changes in the supply and prices of resources required for the operation of the Company’s facilities (such as waste and natural gas) and in the price of oil, changes in demand and technical and other disruptions in the operations or construction of the power plants owned by the Company in addition to other risks and uncertainties associated with the Company’s business that are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Kalia Weintraub

CFO
Tel: +972 (3) 797-1111
Email: [email protected]

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SOURCE Ellomay Capital Ltd

GARDNER, Mass., Nov. 12, 2020 /PRNewswire/ — Precision Optics Corporation, Inc. (OTCQB: PEYE), a leading designer and manufacturer of advanced optical instruments for the medical and defense industries, announced operating results on an unaudited basis for its first quarter fiscal year ended September 30, 2020.

First quarter fiscal 2021 highlights:

• Revenue for the quarter ended September 30, 2020 was $2.76 million compared to $2.51 million in the same quarter of the previous fiscal year, an increase of 10%; and up 23% sequentially compared to $2.24 million in the fourth quarter of the previous fiscal year.
• Gross margins for the quarter ended September 30, 2020 of 35% compared to 39% in the same quarter of the prior year; and compared to 29% for the quarter ended June 30, 2020.
• Net income of $763 during the quarter included $71,146 of stock-based compensation. This compared to a loss of $86,110 in the same quarter a year ago and loss of $323,085 in the fourth quarter of fiscal 2020.
• The Company’s cash position remains strong with an ending balance for the first quarter of $900,510.

Precision Optics’ CEO, Joseph Forkey, commented, “I am pleased with the operating performance during the first quarter which included a return to revenue growth.  Our revenues grew sequentially by 23%, and by 10% year over year, as we saw a recovery in shipments on orders that had been delayed due to issues surrounding COVID-19 over the past few quarters. This growth in revenue, coupled with sequential improvement in gross margins and continued efficient management of expenses, lead to slight net income profitability and positive adjusted EBITDA. Importantly, our balance sheet remained strong with more than $900,000 in cash.”

Dr. Forkey concluded, “Our team continues to maintain a safe overall workplace for our employees while meeting the expectations and demands of our customers. Production disruptions resulting from COVID-19 related precautions created a slightly elevated backlog going into the quarter, which we have largely now delivered.  Importantly, COVID-19 did not materially alter end-market programs and we are seeing the progression of numerous pipeline projects that have the ability to be significant contributors to revenue over the next few quarters and years. We are still not out of the woods as it relates to the near term impacts from COVID-19 as customers work through excess inventory and evaluate the velocity of sell through of their end products in the market. However, the increase we have seen in pipeline projects as well as requests for quotation gives me optimism.  We continue to have confidence that our existing production programs will ultimately return to pre-pandemic levels and combined with new programs that are building today, we expect to have a larger base of revenue.  Our business today is inherently growing nicely.” 

The following table summarizes the first quarter (unaudited) results for the periods ended September 30, 2020 and 2019:

Conference Call Details
The Company has scheduled a conference call to discuss the first quarter 2021 financial results for Thursday, November 12, 2020 at 5:00 p.m. ET.

Call-in Information: Interested parties can access the conference call by dialing (844) 735-3662 or (412) 317-5705.

Live Webcast Information: Interested parties can access the conference call via a live Internet webcast, which is available at https://www.webcaster4.com/Webcast/Page/2109/38482. 

Replay: A teleconference replay of the call will be available until November 19, 2020 at (877) 344-7529 or (412) 317-0088, confirmation # 10149688. A webcast replay will be available at https://www.webcaster4.com/Webcast/Page/2109/38482.  

About Precision Optics Corporation
Precision Optics Corporation has been a leading developer and manufacturer of advanced optical instruments since 1982. Using proprietary optical technologies, the Company designs and produces next generation medical instruments, Microprecision™ micro-optics with characteristic dimensions less than 1 millimeter, and other advanced optical systems for a broad range of customers including some of the largest global medical device companies. The Company’s innovative medical instrumentation line includes state-of-the-art endoscopes and endocouplers as well as custom illumination and imaging products for use in minimally invasive surgical procedures. The Company believes that current advances in its proprietary micro-optics and 3D imaging technologies present significant opportunities for expanding applications to numerous potential medical products and procedures. The Company’s website is www.poci.com. Investors can find Real-Time Quotes and market information for the Company on www.otcmarkets.com/stock/PEYE/quote.

About Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements include, but are not limited to, statements that express the Company’s intentions, beliefs, expectations, strategies, predictions or any other statements related to the Company’s future activities or future events or conditions. These statements are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions made by the Company’s management. These statements are not guarantees of future performances and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks discussed in the Company’s annual report on Form 10-K and in other documents that we file from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement, except as required by law.

Company Contact: 
PRECISION OPTICS CORPORATION
22 East Broadway
Gardner, Massachusetts 01440-3338
Telephone: 978-630-1800

Investor Contact:
LYTHAM PARTNERS, LLC
Robert Blum
Phoenix | New York
Telephone: 602-889-9700
[email protected]

Following are the Company’s Consolidated Balance Sheets at September 30, 2020 and June 30, 2020, and Statements of Operations, for the three month periods ended September 30, 2020 and 2019:

 

 

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SOURCE Precision Optics Corporation