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AstroNova to Present at Sidoti Virtual Microcap Conference 2020

AstroNova to Present at Sidoti Virtual Microcap Conference 2020

Live presentation to begin at 11:30 a.m. ET Thursday, November 19

WEST WARWICK, R.I.–(BUSINESS WIRE)–
AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies, today announced that Gregory A. Woods, President and Chief Executive Officer, and David S. Smith, Vice President, Treasurer and Chief Financial Officer, will be presenting and hosting one-on-one meetings at the Sidoti Virtual Microcap Conference 2020. The presentation is scheduled to begin at 11:30 a.m. ET Thursday, November 19, 2020.

A live webcast of the AstroNova presentation will be available at https://bit.ly/3poTAeX and on the “Investors” section of the Company’s website, https://investors.astronovainc.com.

About AstroNova

AstroNova, Inc. (NASDAQ: ALOT), a global leader in data visualization technologies since 1969, designs, manufactures, distributes, and services a broad range of products that acquire, store, analyze, and present data in multiple formats. The Product Identification segment offers a complete line-up of labeling hardware and supplies, allowing customers to mark, track, and enhance their products’ appearance. The segment is comprised of three business units: QuickLabel®, the industry leader in tabletop digital color label printing; TrojanLabel®, an innovative leader for professional label presses; and GetLabels™, the premier supplier of label materials, inks, toners, ribbons, and adhesives, all compatible with the major printer brands. Supported by AstroNova’s customer application experts and technology leadership in printing, material science, and high-speed data processing, customers benefit from an optimized, “total solution” approach. The Test and Measurement segment includes the AstroNova Aerospace business unit, which designs and manufactures flight deck printers, networking hardware, and related accessories serving the world’s aerospace and defense industries with proven advanced airborne technology solutions for the cockpit and the cabin; and the Test and Measurement business unit, which offers a suite of products and services that acquire, record, and analyze electronic signal data from local and networked sensors. AstroNova is a member of the Russell Microcap® Index and the LD Micro Index (INDEXNYSEGIS: LDMICRO). Additional information is available by visiting www.astronovainc.com.

Scott Solomon

Senior Vice President

Sharon Merrill Associates

(617) 542-5300

[email protected]

KEYWORDS: United States North America Rhode Island

INDUSTRY KEYWORDS: Software Technology Hardware Consumer Electronics

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ARKO/GPM Announces Participation in the Stephens Annual Investment Conference

Expects to Update Fiscal 2020 Outlook

RICHMOND, Va., Nov. 12, 2020 (GLOBE NEWSWIRE) — ARKO Holdings Ltd., (“Arko”), whose primary asset is a controlling stake in GPM Investments, LLC, (“GPM” or the “Company”), a rapidly growing leader in the U.S. convenience store industry, and who entered into a definitive business combination agreement with Haymaker Acquisition Corp. II (“Haymaker”), a publicly-traded special purpose acquisition company (SPAC), today announced that the Company is scheduled to present at the Stephens Annual Investment Conference on Thursday, November 19, 2020, at 1:00 pm Eastern Time.

In advance of the presentation, the Company expects to file an updated investor presentation providing revised fiscal 2020 outlook.

The presentation will be webcast live over the internet and can be accessed at https://haymakeracquisition.com/home/. No audio replay will be available.

Arko’s pending business combination with Haymaker Acquisition Corp. II, a special purpose acquisition corporation (SPAC) (the “Business Combination”) remains on track for an expected closing in the fourth quarter of 2020, subject to the approval of the stockholders of Haymaker and Arko and other conditions to closing. Following the closing, the combined company is expected to become publicly-listed on the NASDAQ stock exchange under the ticker ARKO.

About GPM and Arko:

Based in Richmond, VA, GPM was founded in 2003 with 169 stores and has grown through acquisitions to become the 7th largest convenience store chain in the United States, with, following the consummation of the Empire acquisition, 2,930 locations comprised of 1,350 company-operated stores and 1,580 dealer sites to which it supplies fuel, in 33 states and Washington D.C. GPM operates in three segments: retail, which consists of fuel and merchandise sales to retail consumers; wholesale, which supplies fuel to third-party dealers and consignment agents; and GPM Petroleum, which supplies fuel to GPM and its subsidiaries selling fuel (both in the retail and wholesale segments) as well as subwholesalers and bulk purchasers.

Arko is the controlling shareholder of GPM and, as part of the business combination with Haymaker (the “Business Combination”), the shares of Arko will be de-listed from Tel-Aviv stock exchange. At the closing of the Business Combination with Haymaker, Arko will have no material independent operating activities, income, or net assets, other than its ownership interest in GPM.

About Haymaker Acquisition Corp II:

Haymaker is a $400 million blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Haymaker’s acquisition and value creation strategy is to identify, acquire and, after its initial business combination, build a company in the consumer, retail, media, or hospitality industries. Haymaker is led by Chief Executive Officer and Executive Chairman Steven J. Heyer, President Andrew R. Heyer, Chief Financial Officer Christopher Bradley, and Senior Vice President Joseph Tonnos. For more information about Haymaker, please visit www.haymakeracquisition.com.

Additional Information and Where to Find It

ARKO Corp. filed a registration statement on Form S-4 (File No. 333-248711), which includes a prospectus with respect to ARKO Corp.’s securities to be issued in connection with the Business Combination and a proxy statement with respect to Haymaker’s stockholder meeting to vote on the Business Combination (as amended, the “Haymaker proxy statement/prospectus”), with the U.S. Securities and Exchange Commission (the “SEC”). In addition, Arko filed a proxy statement (the “Arko proxy”), which includes reference to the Haymaker proxy statement/prospectus, with the Israel Securities Authority (the “ISA”) on September 22, 2020. ARKO Corp., Haymaker, GPM and Arko urge investors and other interested persons to read the Haymaker proxy statement/prospectus and the Arko proxy, as well as other documents filed with the SEC and the ISA, because these documents will contain important information about the Business Combination. The Haymaker proxy statement/prospectus and other relevant materials for the Business Combination will be mailed to stockholders of Haymaker as of the record date established for voting on the Business Combination. The Haymaker proxy statement statement/prospectus can be obtained, without charge, at the SEC’s web site (http://www.sec.gov).

Participants in the Solicitation

ARKO Corp., Haymaker, Arko, GPM and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Haymaker stockholders in connection with the Business Combination. Investors and securityholders may obtain more detailed information regarding the names, affiliations and interests of Haymaker’s directors and officers in its Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on March 19, 2020 and is available free of charge at the SEC’s web site at www.sec.gov.

Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Haymaker’s stockholders in connection with the Business Combination is also contained in the Haymaker proxy statement/prospectus.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of the businesses of ARKO Corp., Haymaker, Arko and GPM may differ from their actual results and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations with respect to future performance, including projected financial information (which was not audited or reviewed by auditors), and anticipated financial impacts of the Empire Petroleum Partners (“Empire”) acquisition or the Business Combination, the satisfaction of the closing conditions to the Business Combination, and the timing of the completion of the Business Combination. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside of the control of ARKO Corp., Haymaker, Arko and GPM, and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreements with respect to the Business Combination, (2) the outcome of any legal proceedings that may be instituted against the parties following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the inability to complete the Business Combination, including due to failure to obtain approval of the stockholders of Haymaker and Arko or other conditions to closing; (4) the impact of the COVID-19 pandemic on (x) the parties’ ability to consummate the Business Combination and (y) the business of Arko and the combined company; (5) the receipt of an unsolicited offer from another party for an alternative business transaction that could interfere with the Business Combination; (6) the inability to obtain or maintain the listing of ARKO Corp.’s common stock on Nasdaq following the Business Combination; (7) the risk that the Business Combination disrupts current plans and operations as a result of the announcement and consummation of the Business Combination; (8) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (9) costs related to the Business Combination; (10) changes in applicable laws or regulations; (11) the demand for Arko’s and the combined company’s services together with the possibility that Arko or the combined company may be adversely affected by other economic, business, and/or competitive factors; (12) the number of shares submitted for redemption by Haymaker’s stockholders in connection with the stockholder meeting to approve the Business Combination; (13) risks and uncertainties related to Arko’s business, including, but not limited to, changes in fuel prices, the impact of competition, environmental risks, restrictions on the sale of alcohol, cigarettes and other smoking products and increases in their prices, dependency on suppliers, increases in fuel efficiency and demand for alternative fuels for electric vehicles, failure by independent outsider operators to meet their obligations, acquisition and integration risks, and currency exchange and interest rates risks; (14) failure to realize the expected benefits of the acquisition of Empire; (15) failure to promptly and effectively integrate Empire’s business; (16) the potential for unknown or inestimable liabilities related to the Empire business; and (17) other risks and uncertainties included in (x) the “Risk Factors” section of the Haymaker proxy statement/prospectus and (y) other documents filed or to be filed with the SEC by Haymaker and with the ISA by Arko. The foregoing list of factors is not exclusive. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. ARKO Corp., Haymaker, Arko, and GPM do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions, or circumstances on which any such statement is based.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the Business Combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering 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.

Investor Contacts

Farah Soi, CFA
Caitlin Churchill
(203) 682-8200
[email protected]

Media Contact

Keil Decker
(646) 277-1200
[email protected]

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NewRez Announces Appointment of First Chief Diversity Officer

NewRez Announces Appointment of First Chief Diversity Officer

National mortgage lender and servicer implements new position to advance diversity and inclusion

FORT WASHINGTON, Pa.–(BUSINESS WIRE)–NewRez LLC (“NewRez”, the “Company”), a national mortgage lending and servicing organization, announced today that Lusharn Heastie, former Human Resources Manager for the Servicing Division, has been appointed as the Company’s first Chief Diversity Officer, effective immediately.

“I am pleased to announce Lusharn Heastie as NewRez’s first Chief Diversity Officer. In this role, Lusharn will not only strengthen programs around diversity and inclusion but will oversee management trainings, inclusive hiring practices and workplace initiatives,” said Liz Monahan, Chief Human Resources Officer of NewRez.

“As we continue to unify our family of companies into one firm with one vision, it is our mission to ensure NewRez promotes diversity and equality in everything we do. I am looking forward to Lusharn’s leadership as our Chief Diversity Officer,” added Baron Silverstein, President of NewRez. “I have no doubt that she will bring the same level of commitment and enthusiasm to her new role as she has throughout her entire career with us.”

As Chief Diversity Officer, Ms. Heastie will be responsible for shaping the Company’s diversity and inclusion efforts and creating awareness for diversity and inclusion across all aspects of the organization. Ms. Heastie will also be responsible for creating programs that promote inclusive hiring practices as well as executive visibility and mentorship, aimed at strengthening and empowering employees who show an interest in growing their careers with NewRez.

“I am excited to be the first Chief Diversity Officer at NewRez. Having spent my career in Human Resources, I have been fortunate to engage with and learn from our network of diverse employees. As we continue to move the needle forward, I look forward to creating and implementing more programs that will strengthen our workforce in diversity, equity and inclusion,” added Ms. Heastie of her promotion.

Prior to assuming the role as Chief Diversity Officer, Ms. Heastie had been with NewRez’s Servicing Division since 2017. In just under four years, she swiftly grew her career from Human Resources Generalist to Manager and now Chief Diversity Officer and was at the forefront of a variety of different initiatives as the Company rapidly expanded its employee base. In her previous role, Ms. Heastie was instrumental in activities related to employee relations, the design and execution of the corporate safety council, and business continuity strategies.

Headquartered in Fort Washington, PA, with offices across the United States, NewRez specializes in finding the right loan for every borrower. The lender offers a wide range of mortgage products that help make the dream of homeownership attainable. Visit newrez.com for more information on products and instructions on applying for a loan.

About NewRez LLC

NewRez LLC (NewRez) is a leading nationwide mortgage lender and servicer. As a lender, NewRez focuses on offering a breadth of industry-leading products, supported by a loan process that blends both human interaction and the benefits of technology into an unparalleled customer experience. Founded in 2008 and licensed to lend in 50 states, NewRez is headquartered in Fort Washington, Pennsylvania and operates multiple lending channels, including Correspondent Lending, Wholesale, Direct-to-Consumer, Retail, and a network of joint venture partners. NewRez’s servicing business consists of its performing loan servicing division, NewRez Servicing, and its special servicing division, Shellpoint Mortgage Servicing. NewRez also has several affiliates that perform various services in the mortgage and real estate industries. These include Avenue 365 Lender Services, LLC, a title agency, and E Street Appraisal Management LLC, an appraisal management company. NewRez is member of the New Residential Investment Corp. family. More information is available at www.newrez.com.

Lauren Darkes

[email protected]

(o) 267-705-4692

KEYWORDS: Pennsylvania United States North America

INDUSTRY KEYWORDS: Construction & Property Human Resources Finance Banking Professional Services African-American Consumer Residential Building & Real Estate

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Ecolab’s New Exelerate™ TUFSOIL Cleaner and Degreaser Helps Minimize the Time Needed to Remove Tough, Burnt-on Soils

Ecolab’s New Exelerate™ TUFSOIL Cleaner and Degreaser Helps Minimize the Time Needed to Remove Tough, Burnt-on Soils

Innovative ready-to-use, patent-pending formula helps food and protein manufacturers improve cleaning outcomes, increase production time and enhance worker safety

ST. PAUL, Minn.–(BUSINESS WIRE)–
Ecolab, the global leader in water, hygiene and infection prevention solutions and services, has launched Exelerate™ TUFSOIL, an innovative ready-to-use gel cleaner and degreaser for food and protein manufacturers. Exelerate TUFSOIL helps enable more effective cleaning while minimizing time spent removing tough, burnt-on soils in fryers, ovens, smokehouses, dryers, racks, catwalks and environmental areas.

“To deliver safe, high-quality food to consumers, food and protein manufacturers can spend multiple hours of labor-intensive work to manually scrub, scrape and water-blast equipment to remove burnt-on soils in hard-to-reach areas,” said Ann Gent, senior vice president and general manager of Ecolab Food and Beverage in North America. “Exelerate TUFSOIL was developed to help our customers address this challenge, allowing operators to minimize time spent on soil removal; ultimately helping to increase production time, improve cleaning outcomes to reduce food safety risks and enhance worker safety.”

The patent-pending formula is a result of Ecolab’s extensive research and development focus and commitment to developing breakthrough innovations that help our customers solve their toughest challenges. It contains alkaline, solvent and surfactant components that interact to improve cleaning performance and effectively cut through tough carbonized sugars, oils and proteins. The gel formula delivers an improved cling time compared to a foam alkaline cleaner, ensuring a longer contact period on vertical surfaces. By extending exposure time, Exelerate TUFSOIL has the ability to break down tough soils more efficiently. In addition, users have noted that as a gel product, Exelerate TUFSOIL has a reduced odor when compared to foam alkaline products, helping improve the application experience.

The product comes ready-to-use and does not require any mixing, diluting, or titrating, decreasing operator preparation time and handling of the product. “Exelerate TUFSOIL also can be applied on hot surfaces without drying out, reducing time spent waiting for surfaces to cool down and avoiding re-application compared to foam products that can dry on the surface,” emphasized Maddie Faubion, an Ecolab chemical engineer. “This provides additional time savings and operational efficiency for plant operators.”

A fluorescent green dye is added to the product to provide increased visibility, especially for dark, hard-to-reach areas such as fryers or ovens. This visual cue helps reduce over-application and ensures equipment areas have been properly covered and rinsed.

Ecolab’s Exelerate TUFSOIL, ready-to-use gel cleaner and degreaser, is available now in North America and Greater China, and will be available in additional markets throughout 2021. To learn more about Exelerate TUFSOIL, visit www.ecolab.com/exelerate-tufsoil.

About Ecolab

A trusted partner at nearly three million commercial customer locations, Ecolab (NYSE: ECL) is the global leader in water, hygiene and infection prevention solutions and services. With annual sales of $13 billion and more than 45,000 associates, Ecolab delivers comprehensive solutions, data-driven insights and personalized service to advance food safety, maintain clean and safe environments, optimize water and energy use, and improve operational efficiencies and sustainability for customers in the food, healthcare, hospitality and industrial markets in more than 170 countries around the world. www.ecolab.com

Follow us on Twitter @ecolab, Facebook at facebook.com/ecolab, LinkedIn at Ecolab or Instagram at Ecolab Inc.

(ECL-P)

Roman Blahoski

651-250-4724

[email protected]

KEYWORDS: United States North America Minnesota

INDUSTRY KEYWORDS: Restaurant/Bar Food/Beverage Manufacturing Retail Chemicals/Plastics

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Tel-Instrument Electronics Reports Second Quarter 2021 Results and Receipt of $1.1 Million Mode 5 Test Set Order

Tel-Instrument Electronics Reports Second Quarter 2021 Results and Receipt of $1.1 Million Mode 5 Test Set Order

EAST RUTHERFORD, N.J.–(BUSINESS WIRE)–
Tel-Instrument Electronics Corp. (“Tel”, “TIC” or the “Company”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions, today reported net income of $222,748 on revenues of $3,336,396 for the second quarter of fiscal year 2021 ending September 30, 2020. The Company also announced the receipt of a $1.1 million follow-on order for Mode 5 test sets from a major U.S. defense supplier related to the F-35 Joint Strike Fighter program.

Highlights include:

  • Revenues decreased 15% from the year-ago quarter, primarily as a result of a decrease in our commercial business.
  • Gross margins for the quarter were 41% as compared to 48% for the same quarter last year mainly due to the competitive pricing on two major international contracts win. We expect margins to improve once these shipments are completed.
  • SGA expenses declined 26% mostly due to lower commission, accrued profit sharing and marketing consulting expenses.
  • Engineering expenses decreased 5% as a result of time spent on a funded engineering program.
  • Income from operations was $341,945 as compared to $631,178 for the same quarter last year.
  • Basic earnings per share of $0.04 as compared to $0.14 for the same quarter last year.
  • Backlog increased to $5.1 million at September 30, 2020 as compared to $4.0 million at March 31, 2020
  • Working capital increased $814,000 to $2.6 million at September 30, 2020 from $1.8 million at March 31, 2020
  • Stockholders’ equity increased to over $5 million.

Mr. Jeffrey O’Hara, Tel-Instrument’s President and CEO commented “We continue to be profitable with our second quarter income before taxes approximately double that of our first quarter, despite the impact of COVID-19 on our supply chain and labor force. The pandemic has resulted in a significant reduction in our commercial test set bookings and has delayed some orders from our domestic and international military customers. With the resurgence of the COVID-19 virus across the country, managing our supply chain and manufacturing operations will remain a challenge for the remainder of this fiscal year.

We continue to seek new opportunities, and our core Mode 5 business remains strong, representing 75% of total sales for the quarter. We recently received a $1.1 million Mode 5 follow-on test set order from a major U.S. Prime this week which will be shipped in the fourth quarter, and we have submitted quotes to the U.S. military for other Mode 5 and legacy test sets that we expect to secure in the next few months. Our $956K contract from Lockheed Martin to support the F-35 Joint Strike Fighter is proceeding on schedule with the Preliminary Design Review scheduled for next week. This is a competitively bid development contract to design a “go-no-go” test set for the F-35 advanced communication systems. The system will involve much higher frequency levels than what TIC has worked with in the past and is a testament to our engineering team who came up with a winning design concept. The contract includes eight engineering qualification test sets with an option for 50 additional production test sets upon the completion of the 12 month development program.

Our balance sheet and financial position continues to strengthen and we are well positioned to discharge the Aeroflex damage award in the event that we are unsuccessful with our pending legal appeal. The Company also received a $722,577 government loan from the Payroll Protection Program in May 2020. The Company applied for 100% forgiveness of this loan in November 2020, and we believe we meet the requirements for this to be granted. The loan has allowed us to continue development work on the SDR/OMNI test set despite the uncertain outlook for commercial aviation market.

Given the sharp decline in the commercial market, the Company is increasing its engineering focus on military communication applications. We have upgraded the design of our 4.5-pound SDR/OMNI hand-held test set to include a much faster processor with improved video graphics processing capability. This change will allow us the technological capability to compete in much larger markets where we have previously not had any presence. Our goal is to introduce a military communications test set in the first half of 2021 while still working to introduce a commercial avionics test set in the same timeframe.

In summary, the Company has never been in a stronger position with orders for Mode 5 and legacy test sets continuing and the Company aggressively expanding into related high-growth areas such as specialty engineering for Lockheed Martin and the military communications test set market. On a final note, we wish the best for Joe Macaluso, our Chief Accounting Officer, who announced his departure from the Company earlier this week. Joe has done a fantastic job at TIC and will be missed. Mr. O’Hara will assume Joe’s responsibilities until a replacement is named.”

About Tel-Instrument Electronics Corp.

Tel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at www.telinstrument.com.

This press release includes statements that are not historical in nature and may be characterized as “forward-looking statements,” including those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company’s outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. All predictions as to future results contain a measure of uncertainty and, accordingly, actual results could differ materially. Among the factors which could cause a difference are: changes in the general economy; changes in demand for the Company’s products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological change; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company’s previous filings with the U.S. Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the “Act”) protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

 

TEL-INSTRUMENT ELECTRONICS CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS
 

 

 

September 30,

2020

 

 

March 31,

2020

 

 

 

(unaudited)

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash

 

$

3,453,098

 

 

$

3,126,195

 

Accounts receivable, net

 

 

1,952,406

 

 

 

1,411,644

 

Inventories, net

 

 

3,048,897

 

 

 

3,092,679

 

Restricted cash to support appeal bond

 

 

2,010,454

 

 

 

2,008,544

 

Prepaid expenses and other current assets

 

 

404,474

 

 

 

382,428

 

Total current assets

 

 

10,869,329

 

 

 

10,021,490

 

 

 

 

 

 

 

 

 

 

Equipment and leasehold improvements, net

 

 

222,221

 

 

 

263,750

 

Operating lease right-of-use assets

 

 

201,017

 

 

 

306,740

 

Deferred tax asset, net

 

 

2,591,685

 

 

 

2,712,780

 

Other long-term assets

 

 

35,109

 

 

 

35,109

 

Total assets

 

$

13,919,361

 

 

$

13,339,869

 

 

 

 

 

 

 

 

 

 

LIABILITIES & STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Line of credit

 

$

680,000

 

 

$

680,000

 

SBA PPP loan – current portion

 

 

416,940

 

 

 

–

 

Operating lease liabilities – current portion

 

 

201,017

 

 

 

214,793

 

Accounts payable and accrued liabilities

 

 

577,531

 

 

 

1,035,023

 

Deferred revenues – current portion

 

 

134,593

 

 

 

145,168

 

Accrued legal damages

 

 

5,785,183

 

 

 

5,657,549

 

Finance lease obligations – current portion

 

 

–

 

 

 

49

 

Accrued payroll, vacation pay and payroll taxes

 

 

483,723

 

 

 

512,732

 

Total current liabilities

 

 

8,278,987

 

 

 

8,245,314

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities – long-term

 

 

–

 

 

 

91,947

 

Deferred revenues – long-term

 

 

314,981

 

 

 

327,132

 

SBA PPP loan – long term

 

 

305,637

 

 

 

–

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

 

8,899,605

 

 

 

8,664,393

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

 

 

Preferred stock, 1,000,000 shares authorized, par value $0.10 per share

 

 

 

 

 

 

 

 

Preferred stock, 500,000 shares 8% Cumulative Series A Convertible Preferred

issued and outstanding, par value $0.10 per share

 

 

3,635,998

 

 

 

3,515,998

 

Preferred stock, 166,667 shares 8% Cumulative Series B Convertible Preferred

issued and outstanding, par value $0.10 per share

 

 

1,127,367

 

 

 

1,087,367

 

Common stock, 7,000,000 shares authorized, par value $0.10 per share,

3,255,887 shares issued and outstanding, respectively

 

 

325,586

 

 

 

325,586

 

Additional paid-in capital

 

 

7,467,176

 

 

 

7,616,624

 

Accumulated deficit

 

 

(7,536,371

)

 

 

(7,870,099

)

Total stockholders’ equity

 

 

5,019,756

 

 

 

4,675,476

 

Total liabilities and stockholders’ equity

 

$

13,919,361

 

 

$

13,339,869

 

 

TEL-INSTRUMENT ELECTRONICS CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)
 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

September 30,

2020

 

 

September 30,

2019

 

 

September 30,

2020

 

 

September 30,

2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

3,336,396

 

 

$

3,912,168

 

 

$

6,275,833

 

 

$

7,218,630

 

Cost of sales

 

 

1,969,573

 

 

 

2,038,535

 

 

 

3,404,399

 

 

 

3,763,393

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross margin

 

 

1,366,823

 

 

 

1,873,633

 

 

 

2,871,434

 

 

 

3,455,237

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

464,809

 

 

 

625,163

 

 

 

1,126,060

 

 

 

1,237,634

 

Litigation expenses

 

 

5,514

 

 

 

91,553

 

 

 

8,210

 

 

 

102,060

 

Engineering, research and development

 

 

554,555

 

 

 

525,739

 

 

 

1,186,508

 

 

 

1,050,842

 

Total operating expenses

 

 

1,024,878

 

 

 

1,242,455

 

 

 

2,320,778

 

 

 

2,390,536

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

 

341,945

 

 

 

631,178

 

 

 

550,656

 

 

 

1,064,701

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

1,879

 

 

 

1,018

 

 

 

4,725

 

 

 

2,018

 

Other income

 

 

–

 

 

 

–

 

 

 

13,854

 

 

 

–

 

Change in fair value of common stock warrants

 

 

–

 

 

 

5,500

 

 

 

–

 

 

 

(73,000

)

Interest expense – judgement

 

 

(52,490

)

 

 

(90,596

)

 

 

(127,634

)

 

 

(171,106

)

Interest expense

 

 

(9,380

)

 

 

(10,866

)

 

 

(19,160

)

 

 

(28,603

)

Total other expense, net

 

 

(59,991

)

 

 

(94,944

)

 

 

(128,215

)

 

 

(270,691

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

 

281,954

 

 

 

536,234

 

 

 

422,441

 

 

 

794,010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

59,206

 

 

 

–

 

 

 

88,713

 

 

 

–

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

222,748

 

 

 

536,234

 

 

 

333,728

 

 

 

794,010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred dividends

 

 

80,000

 

 

 

80,000

 

 

 

160,000

 

 

 

160,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to common shareholders

 

$

142,748

 

 

$

456,234

 

 

$

173,728

 

 

$

634,010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income per common share

 

$

0.04

 

 

$

0.14

 

 

$

0.05

 

 

$

0.19

 

Diluted income per common share

 

$

0.04

 

 

$

0.11

 

 

$

0.05

 

 

$

0.16

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

3,255,887

 

 

 

3,255,887

 

 

 

3,255,887

 

 

 

3,255,887

 

Diluted

 

 

5,068,949

 

 

 

4,945,665

 

 

 

3,255,887

 

 

 

4,945,665

 

 

Jeffrey O’Hara

Tel-Instrument Electronics Corp.

(201) 933-1600

KEYWORDS: United States North America New Jersey

INDUSTRY KEYWORDS: Engineering Defense Aerospace Manufacturing Other Manufacturing Other Defense

MEDIA:

Posted on

VPC Impact Acquisition Holdings Announces the Separate Trading of its Ordinary Shares and Warrants, Commencing November 13, 2020

VPC Impact Acquisition Holdings Announces the Separate Trading of its Ordinary Shares and Warrants, Commencing November 13, 2020

CHICAGO–(BUSINESS WIRE)–
VPC Impact Acquisition Holdings (Nasdaq: VIHAU) (the “Company”) announced today that holders of the Company’s units sold in its initial public offering may elect to separately trade the Class A ordinary shares and redeemable warrants included in its units commencing on or about November 13, 2020.

No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The Class A ordinary shares and warrants that are separated will trade on The Nasdaq Capital Market (“Nasdaq”) under the symbols “VIH” and “VIHAW,” respectively. Those units not separated will continue to trade on Nasdaq under the symbol “VIHAU.” Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into Class A ordinary shares and warrants.

The units were initially offered by the Company in an underwritten offering. Jefferies LLC acted as the sole book-running manager for the offering. A registration statement relating to the units and the underlying securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on September 22, 2020.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at 877-821-7388 or by email at [email protected].

FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination. No assurance can be given as to the consummation of any business combination or the terms thereof. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Victory Park Capital

Julia Sahin, Edelman

[email protected]

646.301.2968

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS: Technology Professional Services Other Technology Finance

MEDIA:

Posted on

Acorn Generates Positive Operating Cash Flow in Q3 on 9% Revenue Growth & 17% Gross Profit Growth in Remote Monitoring & Control (IoT)

WILMINGTON, Del., Nov. 12, 2020 (GLOBE NEWSWIRE) — Acorn Energy, Inc. (OTCQB: ACFN), a provider of Internet of Things (IoT) remote monitoring and control solutions for stand-by generators, gas pipelines, air compressors and other industrial equipment through its OmniMetrix subsidiary, today announced results for its third quarter (Q3’20) ended September 30, 2020. Acorn will host an investor call today at 11:00 a.m. ET to discuss its results and outlook (details below).

Jan Loeb, Acorn’s CEO, commented, “Our Q3 results again demonstrated our business’s resilience despite COVID-19 challenges. We achieved 9% revenue growth over Q3’19, a gross margin of 71%, and our cash balance increased by $206,000. We also reduced our consolidated operating loss to $23,000 in Q3’20 from $121,000 in Q3’19. High-margin, recurring monitoring service revenue rose 15%, driving a 17% increase in gross profit to $1,077,000 in Q3’20 from $922,000 in Q3’19. Given these trends, we believe Acorn has established the foundation necessary to continue generating positive cash flow and to reach consolidated net profitability in 2021.

“Due to the pandemic, we had endured a virtual halt in business development dialogues within our Corrosion Protection business as natural gas pipeline operators suspended vendor meetings. Fortunately, we are starting to see initial reengagement in sales dialogues by larger companies. For the year-to-date period, revenue in this segment has declined 27% versus 2019, principally related to product revenue, but the decline moderated to 14% in Q3’20 versus Q3’19. We feel this business is stabilizing and will return to growth as the pandemic subsides.

“While uncertainties around COVID-19 continue, we believe our business is resilient given the efficiency, ROI and safety considerations that our remote monitoring services can provide customers relative to the alternative, which is labor-intensive physical inspection of critical equipment. These benefits, combined with low penetration rates for remote monitoring and IoT solutions in industrial markets we serve, give us confidence in continued growth for our products and services. We also believe we have the right team and strategy in place to return to our long-term revenue growth goal of 20% in 2021.

“Our growth outlook is supported by new product launches, such as our Smart Annunciator product that provides customers with status updates on critical electric systems, as well as our  AirGuard air compressor monitoring solution. This month we launched our new OmniPro data management software in our cathodic protection or pipeline segment, which should help to maintain our technology leadership in the industry.

“We had $1,966,000 of cash at September 30th, which leaves us well positioned to consider opportunities to enhance shareholder value as we generate additional cash flow.”

OmniMetrix Summary Financial Results

($ in thousands) Q3’20


 		    Q3’19


 		    Change


 		  9mo. 2020


 		    9mo. 2019


 		    Change  
Monitoring revenue $ 970     $ 847     14.5 %   $ 2,823     $ 2,417     16.8 %
Hardware revenue $ 547     $ 539     1.5 %   $ 1,500     $ 1,673     -10.3 %
Total revenue $    1,517     $ 1,386     9.5 %   $       4,323     $      4,090     5.7 %
Gross profit $ 1,077     $ 922     16.8 %   $ 3,021     $ 2,644     14.3 %
Gross margin   71.0 %     66.5 %           69.9 %     64.6 %  
                                       

Q3’20 revenue increased approximately 9% to $1,517,000, fueled by a 15% improvement in monitoring revenue resulting from an increase in the number of monitored endpoints, mitigated by a 1% increase in hardware revenue, due in part to COVID-19-related business development disruptions. Revenue grew 6% to $4,323,000 in the first nine months of 2020 versus the year-ago period, similarly driven by monitoring revenue growth of 17%, offset by a 10% decline in hardware revenue.

Q3’20 gross profit grew 17% to $1,077,000 versus Q3’19, and gross margin increased to approximately 71% in Q3’20 from 66% in the prior-year period, primarily due to the increase in higher-margin monitoring revenue. Monitoring revenue gross margin remained strong at 84% in both periods, while hardware gross margin improved to 44% in Q3’20 from 39% in Q3’19 due to an increasing mix of higher-margin, next-generation monitoring products and a favorable adjustment to the warranty provision.

OmniMetrix’s Q3’20 total operating expenses increased 6% to $867,000 from $816,000 in Q3’19, primarily due to an increase in personnel and travel costs, as well as IT infrastructure and R&D investments for new product development. During Q3’20, OmniMetrix gave performance-based salary increases to employees and the sales team resumed travel to customer prospects that are now open to receiving outside guests. Management anticipates that OmniMetrix’s selling, general and administrative (SG&A) costs will increase in Q4’20, due to personnel salary increases effective September 1, 2020, the easing of travel restrictions for sales meetings, and continuing IT infrastructure investments.

Reflecting gross profit outpacing operating expense growth, OmniMetrix reported Q3’20 operating income of $210,000, nearly doubling from $106,000 in Q3’19.

Acorn Consolidated Financial Results

Acorn’s corporate SG&A costs increased 3% to $233,000 in Q3’20, versus $227,000 in Q3’19. Corporate SG&A is flat year-to-date and management does not expect corporate SG&A expense to increase materially other than expenses that may be required to support growth in OmniMetrix.

Q3’20 net loss attributable to Acorn shareholders improved to $32,000, or $0.00 per share, as compared to a net loss attributable to Acorn shareholders of $121,000, or $0.00 per share, in Q3’19. For the first nine months of 2020, Acorn’s net loss attributable to shareholders improved to $348,000, or ($0.01) per share, versus $557,000, or ($0.02) per share in the first nine months of 2019.

Liquidity and Capital Resources

Cash generated from operating activities improved to $300,000 in the first nine months of 2020, compared to a use of cash of $933,000 in the first nine months of 2019. This difference of approximately $1.2 million, is primarily due to positive changes in net working capital, including increased receivable collections, less cash needed for payables, as well as a reduction in the net loss.

At September 30, 2020, consolidated cash and cash equivalents increased to $1,966,000 from $1,247,000 at December 31, 2019. Acorn’s consolidated cash includes aggregate Paycheck Protection Program (“PPP”) loan proceeds of $461,400 received in Q2’20. The company repaid $41,600 of such proceeds effective October 22, 2020, and was notified on November 5, 2020 by the lender that the SBA has forgiven repayment of the remaining $419,800.

OmniMetrix’s outstanding balance on its receivables-based line of credit as of September 30, 2020 was $171,000 compared to $136,000 at December 31, 2019. Acorn believes the Company’s current cash, expected cash flow from operations, and available cash from borrowings, provides sufficient liquidity to finance the company’s operating activities for the foreseeable future.

The ongoing global impact of COVID-19 continues to be uncertain. The Company’s operations may be materially affected by the pandemic, including a material adverse impact on the Company’s financial position, operations and cash flows. Possible effects may include, but are not limited to, disruption to the Company’s customers and revenue, absenteeism in the Company’s labor workforce, and supply chain disruption.

Conference Call Details

Date/Time:        Thursday, November 12th at 11:00 am ET
Dial-in Number:   1-844-834-0644 or 1-412-317-5190 (Int’l)
Online Replay/Transcript:   Audio file and call transcript will be posted to the
Investor section of Acorn’s website when available. 
Submit Questions via Email:  
[email protected]
 – before or after the call.
     

About Acorn (

www.acornenergy.com

) and OmniMetrix™ (www.omnimetrix.net)
Acorn Energy, Inc. owns a 99% equity stake in OmniMetrix, a pioneer and leader in machine-to-machine (M2M) and Internet of Things (IoT) wireless remote monitoring and control solutions for stand-by power generators, gas pipelines, air compressors and other industrial equipment. OmniMetrix’s proven, cost-effective solutions make critical systems more reliable. The company monitors tens of thousands of assets for customers, which include 25 Fortune/Global 500 companies. In addition to residential generators, OmniMetrix solutions monitor critical equipment used by cell towers, manufacturing plants, medical facilities, data centers, retail stores, public transportation systems, energy distribution and federal, state and municipal government facilities.

Safe Harbor Statement

This press release includes forward-looking statements, which are subject to risks and uncertainties.  There is no assurance that Acorn will be successful in growing its business, reaching profitability, or maximizing the value of its operating company and other assets. A complete discussion of the risks and uncertainties that may affect Acorn Energy’s business, including the business of its subsidiary, is included in “Risk Factors” in the Company’s most recent Annual Report on Form 10-K as filed by the Company with the Securities and Exchange Commission.

Follow us

Twitter: @Acorn_IR and @OmniMetrix

Investor Relations Contacts

Catalyst IR
William Jones, 267-987-2082
David Collins, 212-924-9800
[email protected]

ACORN ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED) (IN THOUSANDS, EXCEPT PER SHARE DATA)

    Three months ended

September 30, 		    Nine months ended

September 30, 		 
    2020     2019     2020      2019   
                         
Revenue   $ 1,517     $ 1,386     $ 4,323     $ 4,090  
Cost of sales – products and services     460       465       1,322       1,417  
Cost of sales – other     (20 )     (1 )     (20 )     29  
Gross profit     1,077       922       3,021       2,644  
Operating expenses:                                
Research and development expenses     160       137       453       420  
Selling, general and administrative expense     940       906       2,887       2,815  
Total operating expenses     1,100       1,043       3,340       3,235  
Operating loss     (23 )     (121 )     (319 )     (591 )
Finance expense, net     (8 )     —       (28 )     5  
Loss before income taxes     (31 )     (121 )     (347 )     (586 )
Income tax expense     —       —       —       —  
Net loss     (31 )     (121 )     (347 )     (586 )
Non-controlling interest share of net (income) loss     (1 )     —       (1 )     29  
Net loss attributable to Acorn Energy, Inc. shareholders   $ (32 )   $ (121 )   $ (348 )   $ (557 )
                                 
Basic and diluted net loss per share attributable to Acorn Energy, Inc. shareholders:   $ (0.00 )   $ (0.00 )   $ (0.01 )   $ (0.02 )
Weighted average number of shares outstanding attributable to Acorn Energy, Inc. shareholders – basic and diluted     39,687       40,393       39,669       33,844  
                                 

ACORN ENERGY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

    As of

September 30, 2020 		    As of

December 31, 2019 		 
ASSETS                
Current assets:                
Cash and cash equivalents   $ 1,966     $ 1,247  
Accounts receivable, net     732       962  
Inventory, net     299       291  
Deferred charges     806       741  
Other current assets     117       189  
Total current assets     3,920       3,430  
Property and equipment, net     264       189  
Right-of-use assets, net     518       587  
Other assets     670       778  
Total assets   $ 5,372     $ 4,984  
LIABILITIES AND DEFICIT                
Current liabilities:                
Short-term credit   $ 171     $ 136  
Loan payable – current portion     256       —  
Accounts payable     273       197  
Accrued expenses     55       136  
Deferred revenue     3,289       3,004  
Current operating lease liabilities     97       53  
Other current liabilities     143       68  
Total current liabilities     4,284       3,594  
Non-current liabilities:                
Loan payable     207       —  
Deferred revenue     1,357       1,491  
Noncurrent operating lease liabilities     468       542  
Other non-current liabilities     5       2  
Total non-current liabilities     2,037       2,035  
Commitments and contingencies                
Deficit:                
Acorn Energy, Inc. shareholders                
Common stock – $0.01 par value per share:                
Authorized – 42,000,000 shares; Issued – 39,687,589 and 39,591,339 shares at September 30, 2020 and December 31, 2019, respectively     397       396  
Additional paid-in capital     102,718       101,655  
Warrants     3       1,021  
Accumulated deficit     (101,030 )     (100,682 )
Treasury stock, at cost – 801,920 shares at September 30, 2020 and December 31, 2019     (3,036 )     (3,036 )
Total Acorn Energy, Inc. shareholders’ deficit     (948 )     (646 )
Non-controlling interests     (1 )     1  
Total deficit     (949 )     (645 )
Total liabilities and deficit   $ 5,372     $ 4,984  
                 

Posted on

DICK’S Sporting Goods Kicks Off Holiday Season On November 18 With First-Ever “10 Days of Black Friday”

RETAILER FOCUSED ON ENHANCED SAFETY, CONVENIENCE AND TECHNOLOGY

PR Newswire

PITTSBURGH, Nov. 12, 2020 /PRNewswire/ — DICK’S Sporting Goods (NYSE: DKS), the largest U.S.-based, full-line omni-channel sporting goods retailer, announced today it is making it more convenient than ever to experience “The Magic of Sport” this holiday season. DICK’S will offer many ways to shop meaningful, must-have gifts for the entire family with savings both in-store and online.

Experience the interactive Multichannel News Release here:
https://www.multivu.com/players/English/8476453-dicks-sporting-goods-holiday-10-days-of-black-friday/

To help ensure a safe shopping experience this holiday season, DICK’S will be offering its Black Friday deals over a 10-day period, rather than concentrated on a single day. The Company has also hired more teammates to fulfill Ship From Store and one-hour Curbside Contactless Pickup orders, giving customers many ways to check things off their holiday shopping list.

In addition to the high standard of in-store sanitation DICK’S rolled out in March, the use of enhanced technology will help customers enjoy an efficient shopping experience — including mobile checkout and return stations, as well as the recently introduced DICK’S Shop/Click/Pay app in select stores. The Company has also rolled out detailed plans to manage lines at its more than 800 stores nationwide.

“We recognize the holiday shopping season is starting much earlier and will be a different experience this year for our customers,” said Lauren Hobart, President, DICK’S Sporting Goods. “For the first time, we are extending our deals and making it easier than ever for our customers to get the best gifts for everyone on their list with flexible pickup and fast shipping to help them alleviate unwanted stress and large crowds. We’ve doubled down on technology solutions to ensure customers get what they need quickly, safely and hassle-free.”

This holiday season, DICK’S will have an even bigger selection of gifts for everyone, including great items for the outdoor enthusiast, golfer, runner, team sports athlete and sports fan. Shoppers planning to upgrade a home gym space or looking to gift the latest trends in apparel, footwear and outerwear can take advantage of holiday deals and promotions.

Exclusive Holiday Deals and Promotions
Shoppers who want to get a jump start on their holiday shopping can take advantage of DICK’S first-ever 10 Days of Black Friday deals starting Wednesday, November 18. Deals will be valid online and in-store through 11:59 p.m. Saturday, November 28, with deals starting on November 18, week-long deals and 3-day deals. A sample of deals include:


Deals Starting November 18

  • Up to $1200 off SOLE Cardio Equipment, available from $999.99–$1599.99 (was $1799.99–$2799.99)
  • 50% OFF Prince Tournament 6800 Indoor Table Tennis Table, available for $299.98 (was $599.99)
  • Up to $50 off Nishiki Pueblo Mountain Bikes found exclusively at DICK’S, available from $229.99–$279.99 (was $269.99–$329.99)
  • Up to $700 OFF Select In-Ground and Portable Basketball Hoops: $349.99–$799.99 (was $499.99–$1499.99)
  • Up to $200 off Schwinn Exercise Bikes, available from $549.99–$899.99 (was $699.99–$999.99)
  • Up to 40% off select golf equipment
  • $39.99 Select Tour Golf Balls, plus free personalization


Week-Long Deals Starting November 22

  • 25% off select Nike, adidas, Champion, NFL and NCAA products
  • 25% off select Nike and adidas athletic footwear
  • 30% off The North Face
  • 40% off DSG Men’s, Women’s and Kids’ Fleece
  • $100 off Men’s or Women’s Top-Flite Complete Sets, available for 199.98 (was 299.99)
  • $400 off Horizon Fitness T101 Treadmill, available for $599.98 (was $999.99)


3-Day Deals Starting November 26

  • The North Face men’s and women’s Alpz 2.0 Down Jacket and Vest found exclusively at DICK’S will be $109.98 and $69.98 (was $169.00 and $119.00)
  • Up to 25% off Men’s, Women’s and Youth Sorel Boots

DICK’S Sporting Goods will continue passing along savings to its customers by offering “Hot Holiday Deals” at dicks.com and in-store throughout the holiday season.

Best Retail Experience Delivering Safety and Convenience
Safety measures implemented in all DICK’S, Golf Galaxy and Field & Stream locations in March will be expanded this holiday season. Stores will offer convenience, flexibility and the best value in-store, online at dicks.com or through the DICK’S mobile app, with services including:

  • One-Hour Pick-up: DICK’S offers customers the option to purchase thousands of products online with easy one-hour curbside or in-store pickup. Exclusions may apply to certain items.
  • Ship to Home: If an item is sold out in-store or only sold online, associates can place an order for a customer and have it shipped directly to their homes.
  • Best Price Guarantee: Customers can continue to get the products they want at an unbeatable price this holiday season with DICK’S Best Price Guarantee. If a customer provides proof the same gift is available at another retailer for a lower price, DICK’S will match that price at the register.
  • The Gift That Always Fits: Customers can give the gift of a DICK’S gift card, available in-stores or online at dicks.com, for recipients to use at more than 800 DICK’S Sporting Goods, Field & Stream or Golf Galaxy locations or online at dicks.com, fieldandstreamshop.com or golfgalaxy.com. eGift cards can arrive within minutes.
  • ScoreCard: Earn one point for every $1 spent on qualified purchases. Get a $10 reward for every 300 points earned. ScoreCard Gold members can unlock access to members-only perks.
  • Deals at Your Fingertips: There are now TWO ways to get the best deals and latest launches delivered to your phone. Download DICK’S free mobile app on Apple or Android or visit dicks.com/text to learn more about DICK’S text alerts program.

All DICK’S Sporting Goods, Golf Galaxy and Field & Stream store locations and the Company’s distribution centers will be closed on Thanksgiving Day, November 26, allowing teammates to spend the holiday with their families. Black Friday offers will be available on Thanksgiving Day at dicks.com, golfgalaxy.com and fieldandstreamshop.com with stores re-opening on Black Friday at 5 a.m. to serve customers nationwide.

Most DICK’S, Golf Galaxy and Field & Stream locations will offer extended shopping hours throughout the holiday season. Please check your local store website for more details. Store and curbside pickup hours may vary throughout the holiday shopping season.

To start shopping and saving early, visit dicks.com. 


About DICK’S Sporting Goods, Inc.

 
Founded in 1948, DICK’S Sporting Goods, Inc. is a leading omni-channel sporting goods retailer offering an extensive assortment of authentic, high-quality sports equipment, apparel, footwear and accessories. As of October 31, 2020, the Company operated 732 DICK’S Sporting Goods locations across the United States, serving and inspiring athletes and outdoor enthusiasts to achieve their personal best through a blend of dedicated teammates, in-store services and unique specialty shop-in-shops dedicated to Team Sports, Athletic Apparel, Golf, Lodge/Outdoor, Fitness and Footwear.

Headquartered in Pittsburgh, PA, DICK’S also owns and operates Golf Galaxy and Field & Stream specialty stores, as well as GameChanger, a youth sports mobile app for scheduling, communications and live scorekeeping.  DICK’S offers its products through a dynamic eCommerce platform that is integrated with its store network and provides customers with the convenience and expertise of a 24-hour storefront. For more information, visit the Investor Relations page at dicks.com.


Contact:

 DICK’S Sporting Goods – [email protected]


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DICK’S Sporting Goods Kicks Off Holiday Season on November 18 With First-Ever “10 Days of Black Friday”

 

DICK’S Sporting Goods Kicks Off Holiday Season on November 18 With First-Ever “10 Days of Black Friday”

 

DICK’S Sporting Goods Kicks Off Holiday Season on November 18 With First-Ever “10 Days of Black Friday”

 

DICK’S Sporting Goods Kicks Off Holiday Season on November 18 With First-Ever “10 Days of Black Friday”

 

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SOURCE DICK’S Sporting Goods

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Hall of Fame Resort and Entertainment Company and the NFL Alumni Association Provide Update on the Success of the Inaugural NFL Alumni Academy

Hall of Fame Resort and Entertainment Company and the NFL Alumni Association Provide Update on the Success of the Inaugural NFL Alumni Academy

Ten of the Academy’s participants have now either received workouts or signed contracts with NFL franchises

CANTON, Ohio–(BUSINESS WIRE)–
Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football, and the NFL Alumni Association are pleased to share an update on the tremendous success of the inaugural NFL Alumni Academy (the “Academy”), the first-ever development and training program for aspiring professional football players. The Academy, which is based at the Tom Benson Hall of Fame Stadium at the Hall of Fame Village powered by Johnson Controls in Canton, Ohio, has now seen 10 of its participants receive workouts or signed NFL contracts this season after Christian Ringo (New Orleans Saints), O’Shea Dugas (Cincinnati Bengals), Josiah Coatney (San Francisco 49ers) and R.J. Prince (Baltimore Ravens) were called up this month.

The six other Academy participants invited to work out for or signed with NFL teams this season include:

  • Evan Adams
  • Tavien Feaster
  • Stacy Keely
  • Trevon McSwain
  • Aca’Cedric Ware
  • Ethan Westbrooks

Michael Crawford, President and CEO of HOFV, said, “We are pleased to be in a position to offer a world-class facility to athletes chosen to attend the Academy, where they can train and develop their games alongside some of the greatest to ever coach and play in the NFL. We look forward to the continued success of this program and the opportunity to expand its recognition across the U.S. through our partnership with Sports Illustrated Studios and future sponsorships with leading brands.”

Since September 2020, participants of the Academy have been working under the tutelage of former NFL personnel and professional trainers to further develop their games. Participants receive hands-on coaching from former Minnesota Vikings Head Coach Mike Tice, Hall of Fame offensive lineman Anthony Munoz, two-time Pro Bowler Jermon Bushrod and legendary performance coach Chip Smith, as well as former NFL coaches and players Steve Smith, Jay Hayes, Chuck Smith, Moe Williams, Jerome Felton, Al Smith and Dean Dalton.

“All 32 NFL teams have accessed the Academy portal to evaluate these free agent players,” said Mr. Dalton, Executive Director of the NFL Alumni Academy, who spent seven seasons coaching offensive lineman and running backs for the Vikings. “NFL personnel departments are starting to recommend certain players and, during these challenging times of COVID protocols, find it a very positive advantage to request private ‘virtual’ workouts of players at the Academy. The feedback that we are getting from the personnel directors within the League has been tremendous as they can evaluate these invited free agents on video gaining a direct perspective on the conditioning level and the improved technique development. They can contact our coaching staff to discuss each player’s intangible value as well. Our Academy is definitely being recognized as the ‘go-to’ personnel source for each NFL team’s need to fill their respective depth charts in-season.”

The goal of the Academy is to prepare its participants for every aspect of the game of football to ensure they have competitive advantages that allow them to get to the next level. The Academy has a tremendous outlet to set these players apart, while keeping NFL franchises current regarding player progress and developments.

About the Hall of Fame Resort & Entertainment Company

The Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame’s campus. Additional information on the Company can be found at www.HOFREco.com.

About the NFL Alumni Association

The NFL Alumni Association is a nationwide group of former National Football League players, coaches and other employees whose mission is to serve, assist and inform former players and their families. The association offers a variety of medical, financial and social programs to help members lead healthy, productive and connected lives, as well as community initiatives under the NFL Alumni’s “Caring for Kids” programs. The NFL Alumni Association hosts the NFL Alumni Academy Player Development Program each football season at the Hall of Fame Village powered by Johnson Controls in Canton, Ohio.

About the NFL Alumni Academy

The NFL Alumni Academy provides a pathway for the top-graded players that were released from NFL training camps to return to the NFL by giving them the opportunity to further develop their skills and realize their potential by training under the tutelage of elite former NFL coaches, players and performance coaches. The Tom Benson Hall of Fame Stadium at the Hall of Fame Village powered by Johnson Controls will initially serve as the NFL Alumni Academy’s headquarters and training facility. The Academy will then move to the Center for Performance, which will be located on the Village’s campus and is anticipated to be completed in 2022. The Center for Performance will feature an 80,000-square-foot, state-of-the-art indoor field house and training facility, among other amenities.

About WaV Sports and Entertainment LLC

WaV Sports & Entertainment is a global sports marketing firm that specializes in sports property representation, brand side representation, and the management and production of unique sporting and entertainment events. WaV exclusively represents, manages and operates the NFL Alumni Academy and various other NFL Alumni projects such as their youth educational programming known as Pro Day Experience. Additional information on the Company can be found at www.WaVsports.com

Forward-Looking Statements

Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words and phrases such as “opportunity,” “future,” “will,” “goal,” and “look forward” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of the business combination; costs related to the business combination; the inability to obtain or maintain the listing of the Company’s shares on Nasdaq; the Company’s ability to manage growth; the Company’s ability to execute its business plan and meet its projections; potential litigation involving the Company; changes in applicable laws or regulations; general economic and market conditions impacting demand for the Company’s products and services, and in particular economic and market conditions in the resort and entertainment industry; the potential adverse effects of the ongoing global coronavirus (COVID-19) pandemic on capital markets, general economic conditions, unemployment and the Company’s liquidity, operations and personnel, as well as those risks and uncertainties discussed from time to time in our reports and other public filings with the SEC. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media/Investor Contacts:

For HOFV

Media Inquiries

[email protected]

Investor Inquiries

[email protected]

For WaV

Brian Klaasmeyer

[email protected]

KEYWORDS: United States North America Ohio

INDUSTRY KEYWORDS: Entertainment Sports General Sports Other Travel Lodging Commercial Building & Real Estate Destinations Football Construction & Property Travel General Entertainment Other Entertainment

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Calix Support Cloud Update Further Enables Customer Experience Teams to Improve First Call Resolution by up to 36 Percent and Deliver Massive Operational Savings

Calix Support Cloud Update Further Enables Customer Experience Teams to Improve First Call Resolution by up to 36 Percent and Deliver Massive Operational Savings

Latest release of Calix Support Cloud enables CSP support teams to deliver a new level of high-touch care, resolving issues with a single call and minimizing escalations

SAN JOSE, Calif.–(BUSINESS WIRE)–Calix, Inc. (NYSE: CALX) today announced enhancements to Calix Support Cloud (CSC) that will dramatically increase the efficiency of how subscribers set up EDGE Suites while also delivering massive operational savings via dramatic reductions in issue escalations, follow-up calls, and truck rolls. This new level of high-touch care allows customer support representatives (CSRs) to work directly through the cloud platform to solve issues. This eliminates the need for subscribers with varying levels of technical expertise to perform complex tasks, potentially resulting in more trouble calls.

To date, CSC customers have realized dramatic improvements in operational efficiencies including first call resolution (FCR) of up to 36 percent. With this latest release, support team leaders can also track the effectiveness of support interactions through a refreshed CSC dashboard that delivers the same deep network insights but now in an actionable, graphical format. Support teams can instantly check key performance metrics to ensure they are providing the best possible service to their subscribers.

“We recently added ExperienceIQ™ and ProtectIQ™ to our portfolio of product offerings and learned immediately how much control it puts into the hands of our subscribers,” said Jerry Piper, VP of operations for the Idaho-based Cambridge Telephone Company. “In the effort to manage the home Wi-Fi experience, subscribers are going to have different levels of tech-savviness, so our support teams must be able to help manage devices and applications. Our teams are always looking for ways to serve our customers better, so the ability to essentially manage their networks for them is a huge benefit. Our subscribers know they can call on our support team, and we will be able to take care of them efficiently, usually solving their problem in a single call.”

Calix Cloud® customers also have access to Customer Success Services—experts who help CSP teams use CSC insights optimally and stay on top of the latest best practices, including increasing FCR. These collaborations help CSRs deliver the ultimate experience to their subscribers.

“EDGE Suites are designed to give subscribers more control over their experience, but CSR teams play a critical, front-line role in ensuring the setup process is user-friendly,” said Shane Eleniak, SVP of Revenue EDGE products for Calix. “This latest release continues the evolution of Calix Support Cloud, further tying its benefits to EDGE Suites and creating a win-win for subscribers and service providers. The home Wi-Fi experience continues to improve and become smarter for subscribers because CSR teams are armed with actionable insights and the ability to directly intervene as necessary. The result is more efficient setup calls that result in faster resolutions—not escalations and follow-ups.”

Learn more about the latest Revenue EDGE enhancements from ConneXions and our 20.4 quarterly product release in our November 24 webinar “Elevate your value: Deliver experiences that capture your subscribers’ attention.”

About Calix

Calix, Inc. (NYSE: CALX) – Innovative communications service providers rely on Calix platforms to help them master and monetize the complex infrastructure between their subscribers and the cloud. Calix is the leading global provider of the cloud and software platforms, systems, and services required to deliver the unified access network and smart premises of tomorrow. Our platforms and services help our customers build next generation networks by embracing a DevOps operating model, optimize the subscriber experience by leveraging big data analytics and turn the complexity of the smart, connected home and business into new revenue streams.

This press release may contain forward-looking statements that are based upon management’s current expectations and are inherently uncertain. Forward-looking statements are based upon information available to us as of the date of this release, and we assume no obligation to revise or update any such forward-looking statement to reflect any event or circumstance after the date of this release, except as required by law. Actual results and the timing of events could differ materially from current expectations based on risks and uncertainties affecting Calix’s business. The reader is cautioned not to rely on the forward-looking statements contained in this press release. Additional information on potential factors that could affect Calix’s results and other risks and uncertainties are detailed in its quarterly reports on Form 10-Q and Annual Report on Form 10-K filed with the SEC and available at www.sec.gov.

Press Inquiries:

Dale Legaspi

408-474-0056

[email protected]

Investor Inquiries:

Tom Dinges

408-474-0080

[email protected]

KEYWORDS: United States North America California

INDUSTRY KEYWORDS: Mobile/Wireless Technology Security Other Technology Telecommunications Software Networks Internet Data Management Consumer Electronics

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