Eagle Bulk Shipping Inc. Becomes a Signatory to The Neptune Declaration on Seafarer Wellbeing and Crew Change

STAMFORD, Conn., Jan. 27, 2021 (GLOBE NEWSWIRE) — Eagle Bulk Shipping Inc. (NASDAQ: EGLE) (“Eagle Bulk”, “Eagle” or the “Company”), one of the world’s largest owner-operators within the Supramax / Ultramax drybulk segment, today announced that it has become a signatory to The Neptune Declaration on Seafarer Wellbeing and Crew Change, a global ‘call to action’ initiative to help end the unprecedented crew change crisis affecting the maritime industry.

The outbreak of COVID-19, and its impact to worldwide travel, has created an unprecedented humanitarian crisis on the seas, leading to hundreds of thousands of seafarers being left stranded on ships beyond their contractual employment periods. Although a number of international organizations, governments, and companies have spoken out on this matter, too little has been done to help resolve this crisis.

The Neptune Declaration has been adopted by over 300 leading companies and organizations who are committed to work together in order to help raise awareness and resolve the crew change crisis. The signatories to The Neptune Declaration call for the following actions be implemented:

  • Recognize seafarers as key workers and give them priority access to COVID-19 vaccines
  • Establish and implement gold standard health protocols based on existing best practice
  • Increase collaboration between ship operators and charterers to facilitate crew changes
  • Ensure air connectivity between key maritime hubs for seafarers

Gary Vogel, Eagle Bulk’s CEO, commented, “We are pleased to join with many other industry stakeholders as a signatory to The Neptune Declaration. We think this is an important initiative and believe in the power of speaking with a collective voice in order to raise the awareness necessary to drive change. Having said this, we also believe it is an imperative that companies take concrete steps and expend the required resources to effect real outcomes for the individuals being impacted. We have made, and will continue to make, seafarer welfare a priority at Eagle with the continuous goal of maintaining zero seafarers working beyond their contractual employment periods.”

For more information on The Neptune Declaration, please go to: www.globalmaritimeforum.org/neptune-declaration.

About Eagle Bulk Shipping Inc.

Eagle Bulk Shipping Inc. (“Eagle” or the “Company”) is a U.S. based fully integrated shipowner-operator providing global transportation solutions to a diverse group of customers including miners, producers, traders, and end users. Headquartered in Stamford, Connecticut, with offices in Singapore and Copenhagen, Denmark, Eagle focuses exclusively on the versatile mid-size drybulk vessel segment and owns one of the largest fleets of Supramax/Ultramax vessels in the world. The Company performs all management services in-house (including strategic, commercial, operational, technical and administrative) and employs an active management approach to fleet trading with the objective of optimizing revenue performance and maximizing earnings on a risk-managed basis. For further information, please visit our website: www.eagleships.com.

CONTACT

Company Contact:
Frank De Costanzo
Chief Financial Officer
Eagle Bulk Shipping Inc.
Tel. +1 203-276-8100
Email: [email protected]

Media:
Rose and Company
Tel. +1 212-359-2228



LogicMonitor Debuts Inaugural Dashboard-a-thon Charity Challenge

Challenge highlights innovative uses of dashboards beyond traditional IT infrastructure monitoring

SANTA BARBARA, Calif., Jan. 27, 2021 (GLOBE NEWSWIRE) — LogicMonitor, the leading cloud-based IT infrastructure monitoring and observability platform, today announced that its 2021 Dashboard-a-thon Charity Challenge is open for submissions. The inaugural Charity Challenge highlights how LogicMonitor’s unique dashboards add significant value to users’ lives beyond the out-of-the-box dashboards customers utilize every day, but the challenge also promotes positive community impact in addition to individual innovation and recognition.

LogicMonitor will make a charitable donation on behalf of the top three entrants to the charity of their choice from the following charities focused on opportunities for traditionally underrepresented groups and technology education: Code2College, Girls Who Code, NAACP, OutRight Action International, The Bail Project and The Loveland Foundation. Last month, LogicMonitor also announced that it will be awarding $6,000 to a deserving student for the Fall 2021 semester through its Women in STEM Scholarship.

LogicMonitor’s customizable dashboards allow users to visualize virtually anything, from critical metrics that keep enterprises running smoothly to monitoring Tesla power levels, keeping tabs on glucose levels as part of diabetes management, or making sure office beverage fridges are being kept at the optimal temperature. Whether customers have built dashboards that are critical to business success, innovative beyond traditional metrics, or just plain wacky, LogicMonitor wants its users to share the IT dashboards they have built within the LogicMonitor platform with the world.

To enter the competition, customers should submit an image and brief description of their dashboard via the competition microsite. Three winners will earn a charitable donation made by LogicMonitor on their behalf, along with premium LogicMonitor swag.

“At LogicMonitor, we know how important our dashboard functionality is to our customers, and the Dashboard-a-thon Charity Challenge showcases some of the amazing ways our customers have made dashboards even more integral to their day-to-day lives,” said Christina Kosmowski, president of LogicMonitor. “Our brilliant customers have been using LogicMonitor in innovative ways for years, and we’re excited to uncover their most unique dashboards while also giving back to charity on their behalf.”

The LogicMonitor Dashboard-a-thon Charity Challenge is accepting submissions through March 2, 2021. Full entry details can be found here.

About LogicMonitor®

Monitoring unlocks new pathways to growth. At LogicMonitor®, we expand what’s possible for businesses by advancing the technology behind them. LogicMonitor seamlessly monitors infrastructures, empowering companies to focus less on problem solving and more on evolution. We help customers turn on a complete view in minutes, turn the dial from optimization to innovation and turn the corner from sight to vision. For more information, visit www.logicmonitor.com.

LogicMonitor Contact:

Anna Lindsey
Tel: (805) 323-3901
Email: [email protected]



Golden Minerals Discovers New Vein and Intersects Excellent Gold and Silver Grades at its Yoquivo Project in Chihuahua, Mexico

GOLDEN, Colo., Jan. 27, 2021 (GLOBE NEWSWIRE) — Golden Minerals Company (NYSE American and TSX: AUMN) (“Golden Minerals”, “Golden” or “the Company”) is pleased to announce it has received assay results from its recent 3,400-meter, 15-hole drill campaign at the Company’s Yoquivo gold-silver district-scale property in Chihuahua, Mexico.

Highlights include the following:

  • YQ_20_001   Pertenencia Vein
    • 1.3m grading 5.69 g/t Au and 223 g/t Ag (650g/t AgEq) within
    • 4.2m grading 2.34 g/t Au and 190 g/t Ag (365 g/t AgEq)
  • YQ_20_002 Pertenencia Vein
    • 0.6m grading 1.14 g/t Au and 423 g/t Ag (509 g/t AgEq) within
    • 1.9m grading 0.45 g/t Au and 150 g/t Ag (184 g/t AgEq)
  • YQ_20_006 Esperanza Vein
    • 1m grading 5.0 g/t Au and 118 g/t Ag (524 g/t AgEq) within
    • 3.6m grading 1.77 g/t Au and 49 g/t Ag (190 g/t AgEq)
  • YQ_20_007 Esperanza Vein
    • 0.4m grading 8.76 g/t Au and 60 g/t Ag (717 AgEq) within
    • 2.8m grading 1.2 g/t Au, 65 g/t Ag (155 g/t AgEq)
  • YQ_20_010 New Vein
    • 0.2m grading 15.4 g/t Au and 1150 g/t Ag (2305 g/t AgEq) within
    • 5.4m grading 1.9 g/t Au and 135 g/t Ag (278 g/t AgEq)
  • YQ_20_011 New Vein
    • 3.0m grading 4.2 g/t Au and 734 g/t Ag (1049 g/t AgEq) within
    • 12.3m grading 1.3 g/t Au and 225 g/t Ag (323 g/t AgEq)
  • YQ_20_012 New Vein
    • 0.3m grading 135.5 g/t Au and 7480 g/t Ag (17,643 g/t AgEq) within
    • 1.2m grading 34 g/t Au and 1895 g/t Ag (4445 g/t AgEq)

Warren Rehn, President and Chief Executive Officer of Golden Minerals, commented, “These excellent drill results from Yoquivo highlight its potential to host economic gold-silver mineralization. This recent drilling has identified multiple veins with potentially economic gold-silver grades, including a newly discovered vein without previous historic mining within our district scale property holdings. We plan to follow with a second phase drill program which could start in the next few months.”

Yoquivo covers a large, low-sulfidation epithermal vein system with limited historic production. The Company has identified four separate vein systems in which surface sampling has returned grades up to 4,050 g/t silver and 27.7 g/t gold from surface. See Golden Minerals’ press release dated Oct. 31, 2018 for details: AUMN Identifies High-Grade Gold and Silver Veins at Yoquivo.

Golden Minerals completed the phase one drill program in December 2020 (see related press release here), and drilled 15 holes totalling approximately 3,400 meters exploring the four known vein systems exposed on the property. The exploration program was designed to target the Pertenencia, San Francisco and Esperanza vein systems to better understand the nature and distribution of the gold-silver mineralization. Of substantial interest is the discovery of a new vein parallel to and east of the Pertenencia vein. While the other principal veins have been partially mined from surface to the water table (up to 130 meters) in the case of San Francisco and Pertenencia, and over a much less extensive vertical interval in the case of El Dolar and Esperanza, the new vein is unmined from surface. Summary assay results from the 2020 drill program are shown as follows:

Hole_ID From To Interval Au (g/t) Ag (g/t) AgEq (g/t) Target
YQ_20_001 111.6 115.8 4.2 2.34 190 365 Pertenencia
  including 114.4 115.8 1.3 5.69 223 650  
YQ_20_002 192.2 194.1 1.9 0.45 150 184 Pertenencia
  including 192.3 192.8 0.6 1.14 423 509 Pertenencia
YQ_20_003 165.0 165.6 0.6 Drill-hole intersected old workings  
YQ_20_003 169.6 170.0 0.4 2.56 228 420 Pertenencia FW
YQ_20_004 72.0 74.0 2.0 Drill-hole intersected old workings Pertenencia
YQ_20_005 66.1 74.0 7.9 0.27 101 121 Esperanza
  including 67.7 70.3 2.6 0.16 149 161  
YQ_20_005 71.7 72.1 0.4 1.44 62 170 Esperanza
YQ_20_006 91.9 95.5 3.6 1.77 49 182 Esperanza
  including 91.9 92.9 1.0 5.00 118 493 Esperanza
YQ_20_007 92.3 95.0 2.8 1.20 65 155 Esperanza
  including 93.2 93.5 0.4 8.76 60 717 Esperanza
YQ_20_008 No Significant Results San Francisco
YQ_20_009 36.5 41.0 4.5 0.42 115 147 New Vein
YQ_20_009 200.3 201.8 2.2 0.76 240 297 Pertenencia
  including 200.7 201.3 0.6 1.71 527 655 Pertenencia
YQ_20_010 75.5 77.6 2.1 1.30 30 128 New Vein
YQ_20_010 131.0 136.4 5.4 1.90 135 278 New Vein
  including 131.0 131.2 0.2 15.40 1,150 2,305  
YQ_20_010 173.7 195.2 21.5 0.50 71 109 Pertenencia
  including 187.0 193.0 6.1 0.70 118 171  
YQ_20_010 208.8 210.0 1.2 0.44 85 118 Pert_FW
  including 209.6 210.0 0.4 0.81 144 205  
YQ_20_011 117.8 130.1 12.3 1.30 225 323 New Vein
  including 117.8 120.8 3.0 4.20 734 1,049  
YQ_20_012 47.3 48.5 1.2 34.00 1,895 4,445 New Vein
  including 47.3 47.6 0.3 135.50 7,480 17,643  
YQ_20_013 No Significant Results Dolar
YQ_20_014 No Significant Results San Francisco
YQ_20_015 170.0 174.0 4.0 0.74 137 193 Esperanza
  including 170.0 170.9 0.9 2.30 39 212  

Notes:

  • Estimated true widths range from 65% to 90% of drilled widths depending on dip of the vein and inclination of the hole.
  • AgEq calculations for reported drill results are based on USD $20.00/oz Ag, $1,500/oz Au. The calculations assume 100% metallurgical recovery and are indicative of gross in-situ metal value at the indicated metal prices.
  • Intervals have been simplified to one decimal place.

The following map displays the drill program’s drill-hole locations and Yoquivo’s principal veins: https://www.globenewswire.com/NewsRoom/AttachmentNg/d6bdd76a-b10d-4d5a-95ea-df8d088880b2

Additional information and images with hole-specific data from the drill campaign may be found by accessing the Company’s website at https://www.goldenminerals.com/projects/yoquivo/.

About Yoquivo

Golden holds an option to purchase seven concessions that comprise the Yoquivo property, totalling 1,974.8 hectares located in western Chihuahua State in northern Mexico, for payments totalling $0.75 million over four years and subject to a 2% net smelter return royalty on production capped at $2 million. The claims cover an underexplored epithermal precious metals district that shows similar mineralization to the adjacent Ocampo mining district, and the Company, through systematic exploration, hopes to identify significant high-grade mineralization. 

Review by Qualified Person and Quality Control

The technical contents of this press release have been reviewed by Aaron Amoroso, a Qualified Person for the purposes of NI 43-101. Mr. Amoroso has over 13 years of mineral exploration and mining industry experience and is a Qualified Person member of the Mining and Metallurgical Society of America (QP Geology & Ore Reserves, 01548QP).

To ensure reliable sample results, Golden Minerals uses a quality assurance/quality control program that monitors the chain of custody of samples and includes the insertion of blanks, duplicates, and reference standards in each batch of samples. Core is photographed and sawn in half with one half retained in a secured facility for verification purposes. Sample preparation (crushing and pulverizing) is performed at an independent ISO 9001:2001 certified laboratory in Chihuahua or Zacatecas, Mexico. Prepared samples are direct shipped to an ISO 9001:2001 certified laboratory in Canada.

About Golden Minerals

Golden Minerals is a Delaware corporation based in Golden, Colorado. The Company is primarily focused on advancing its Rodeo and Velardeña properties in Mexico and, through partner-funded exploration, its El Quevar silver property in Argentina, as well as acquiring and advancing mining properties in Mexico, Argentina, and Nevada.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation, including statements regarding expectations surrounding the geologic potential of the Yoquivo property and its anticipated profitability, and the anticipated timing of the second phase drill program at the property. These statements are subject to risks and uncertainties, including changes in interpretations of geological, geostatistical, metallurgical, mining or processing information; interpretations of the information resulting from exploration, analysis or mining and processing experience; fluctuations in exchange rates and changes in political conditions, tax, royalty, environmental or other laws in Mexico; fluctuations in silver or gold prices; and the timing duration and overall impact of the COVID-19 pandemic, including the potential future re-suspension of non-essential activities in Mexico, including mining. Golden Minerals assumes no obligation to update this information. Additional risks relating to Golden Minerals may be found in the periodic and current reports filed with the SEC by Golden Minerals, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.

For additional information please visit http://www.goldenminerals.com/ or contact:
Golden Minerals Company
Karen Winkler, Director of Investor Relations
(303) 839-5060
SOURCE: Golden Minerals Company



Creative Medical Technology Holdings Files Patent based on Positive Data on Renal Failure using ImmCelz® Regenerative Immunotherapy

Clinical Stage Cellular Therapy Company Advances Product Pipeline into Kidney Failure Market

PR Newswire

PHOENIX, Jan. 27, 2021 /PRNewswire/ — (OTC-CELZ) Creative Medical Technology Holdings announced today filing of a patent application disclosing new data in which the ImmCelz® Regenerative Immunotherapy product reduced/reversed kidney failure in an animal model.  Using the classical “ischemia/reperfusion” system, collaborators of the Company demonstrated significant reduction in markers of kidney injury at multiple timepoints after kidneys were clamped to replicate renal injury.

“Kidney failure is a significant cause of suffering today.  One particular area of kidney damage that is of great interest is preventing injury associated with cardiovascular bypass.  One report states that as many as 30% of patients undergoing bypass have some level of renal damage1.” Said Dr. Amit Patel, co-inventor of the patent and Board Member of the Company. “The preliminary animal data suggests that ImmCelz® may have superior activity to conventional stem cell based approaches.  This may be due to the smaller size of immune cells that comprise the ImmCelz® product, as well as due to factors we are still investigating.”

According to a BCC Research Report, entitled “Chronic Kidney Disease: Global Markets and Technologies Through 2023” the global market for chronic kidney disease is anticipated to grow from $79.0 billion in 2018 to reach $95.0 billion by 2023 at a compound annual growth rate (CAGR) of 3.8% for the period of 2018-20232.

“It is important to note that the JadiCell, which has been demonstrated by a double-blind placebo controlled clinical trial to be effective against COVID-19 lung failure3, is the “engine” behind ImmCelz® said Timothy Warbington, President and CEO of the Company. “The demonstration that this cell type, which already has cleared FDA trials, can bestow regenerative properties to blood cells is, in our minds, paradigm shifting.  We are excited to include this technology in our robust intellectual property portfolio and eager to file our Investigational New Drug application (IND) with the FDA to begin clinical trials.”

The JadiCell clinical trial consisted of 24 patients randomized 1:1 to either JadiCell (UC-MSC) treatment (n = 12) or the control group (n = 12).  According to the publication, treatment was associated with significantly improved patient survival (91% vs 42%, P = .015), SAE-free survival (P = .008), and time to recovery (P = .03). UC-MSC infusions are safe and could be beneficial in treating subjects with COVID-19 ARDS4.

About Creative Medical Technology Holdings
Creative Medical Technology Holdings, Inc. is a commercial stage biotechnology company specializing in regenerative medicine/stem cell technology in the fields of immunotherapy, urology, neurology and orthopedics and trades on the OTC under the ticker symbol CELZ. For further information about the company, please visit www.creativemedicaltechnology.com. 

Forward Looking Statements
OTC Markets has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming clinical trials and laboratory results, marketing efforts, funding, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. See the periodic and other reports filed by Creative Medical Technology Holdings, Inc. with the Securities and Exchange Commission and available on the Commission’s website at www.sec.gov.

Timothy Warbington, CEO
CEO@ CreativeMedicalHealth.com

Creativemedicaltechnology.com

www.StemSpine.com

www.Caverstem.com

www.Femcelz.com

1
Any renal failure after bypass surgery increases risk of complications and death – DCRI

2
Chronic Kidney Disease Market Research Report 2018-2023 (bccresearch.com)

3
ImmCelz® Stem Cell Component Demonstrated Efficacious in FDA Double Blind Placebo Controlled Clinical Trial of Advanced COVID-19 Patients | BioSpace

4
Umbilical cord mesenchymal stem cells for COVID–19 acute respiratory distress syndrome: A double–blind, phase 1/2a, randomized controlled trial – Lanzoni – – STEM CELLS Translational Medicine – Wiley Online Library

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/creative-medical-technology-holdings-files-patent-based-on-positive-data-on-renal-failure-using-immcelz-regenerative-immunotherapy-301216021.html

SOURCE Creative Medical Technology Holdings, Inc.

Yatra Online, Inc. to Report Third Quarter 2021 Financial Results on February 4, 2021

PR Newswire

GURUGRAM, India and NEW YORK, Jan. 27, 2021 /PRNewswire/ — Yatra Online, Inc. (“Company”) (NASDAQ: YTRA) (OTCQX: YTROF), India’s leading corporate travel services provider and one of India’s leading online travel agencies, today announced that it will report its unaudited third quarter results for the period ended December 31, 2020 before market opens in New York on Thursday, February 4, 2021.  The Company will post the release in the Investor Relations section of its website at http://investors.yatra.com

Yatra_Logo

The release will be followed by a conference call hosted by Company’s senior management team on February 4, 2021 at 8:30 AM Eastern Standard Time (or 7:00 PM India Standard Time) to discuss the results.

Dial-in details for the live conference call:

US/International dial-in number: +1-323-347-3278

Confirmation Code: 4993156 (Callers should dial in 5-10 minutes prior to the start time and provide the operator with the Confirmation Code)

Dial-in details for the replay: 

A telephone replay will be available for five days following the conclusion of the conference call.

US/International dial-in number: +1-719-457-0820

Confirmation Code: 4993156

This replay can also be accessed through the Investor Relations section of the Company’s website at http://investors.yatra.com

About Yatra Online, Inc.

Yatra Online, Inc. is the parent company of Yatra Online Pvt. Ltd. which is based in Gurugram, India and is India’s leading Corporate Travel services provider with over 700+ Corporate customers and one of India’s leading online travel companies and operates the website https://www.yatra.com/. The company provides information, pricing, availability, and booking facility for domestic and international air travel, domestic and international hotel bookings, holiday packages, buses, trains, in city activities, inter-city and point-to-point cabs, homestays and cruises. As a leading platform of accommodation options, Yatra provides real-time bookings for more than 102,000 hotels in India and over 1,500,000 hotels around the world.

 

Cision View original content:http://www.prnewswire.com/news-releases/yatra-online-inc-to-report-third-quarter-2021-financial-results-on-february-4-2021-301215982.html

SOURCE “Yatra Online

Commvault Announces Fiscal 2021 Third Quarter Financial Results

— Record quarterly revenue of $188.0 million —

— Third quarter software and products revenue up 16% year over year —

— Recurring revenue up 13% year over year —

PR Newswire

TINTON FALLS, N.J., Jan. 27, 2021 /PRNewswire/ —

Third quarter highlights include:


Third quarter



GAAP Results:

Revenues

$188.0 million

Income from Operations (EBIT)

$2.7 million

EBIT Margin

1.4%

Diluted Earnings Per Share

$0.03



Non-GAAP Results:

Income from Operations (EBIT)

$37.3 million

EBIT Margin

19.8%

Diluted Earnings Per Share

$0.57

Commvault [NASDAQ: CVLT] today announced its financial results for the third quarter ended December 31, 2020. 

“The strategic moves we made over the past two years are delivering results,” said Sanjay Mirchandani, President and CEO, Commvault. “We have simplified how we do business, dramatically improved our execution, and are innovating faster than ever.”

Total revenues for the third quarter of fiscal 2021 were $188.0 million, an increase of 7% year over year.  Total recurring revenue was $140.0 million, an increase of 13% year over year. 

Annualized recurring revenue (ARR), which is the annualized value of all active Commvault recurring revenue streams at the end of the reporting period, was $507.2 million as of December 31, 2020, up 11% from December 31, 2019.

Software and products revenue was $88.6 million, an increase of 16% year over year.  The year over year increase in software and products revenue was driven by a 19% increase in revenue from larger deals (deals greater than $0.1 million in software and products revenue).

Larger deal revenue represented 68% of our software and products revenue in the three months ended December 31, 2020.  The number of larger deal revenue transactions increased 3% year over year to 187 deals for the three months ended December 31, 2020. The average dollar amount of larger deal revenue transactions was approximately $322,000, representing a 15% increase from the prior year quarter.

Services revenue in the quarter was $99.4 million, flat year over year.

On a GAAP basis, income from operations (EBIT) was $2.7 million for the third quarter compared to a loss of $0.5 million in the prior year. Non-GAAP EBIT was $37.3 million in the quarter compared to $28.9 million in the prior year.

Operating cash flow totaled $17.0 million for the third quarter of fiscal 2021 compared to $0.9 million in the prior year quarter.  Total cash and short-term investments were $388.4 million as of December 31, 2020 compared to $339.7 million as of March 31, 2020.

During the third quarter of fiscal 2021, Commvault repurchased 700,694 shares of its common stock totaling $33.1 million at an average price of approximately $47.28 per share.   An update on our capital allocation policy will be provided on our investor day conference call.

A reconciliation of GAAP to non-GAAP results has been provided in Financial Statement Table IV included in this press release.  An explanation of these measures is also included below under the heading “Use of Non-GAAP Financial Measures.”

Use of Non-GAAP Financial Measures

Commvault has provided in this press release the following non-GAAP financial measures: non-GAAP income from operations, non-GAAP income from operations margin, non-GAAP net income, non-GAAP diluted earnings per share and annualized recurring revenue (ARR).  This selected financial information has not been prepared in accordance with GAAP.  Commvault uses these non-GAAP financial measures internally to understand, manage and evaluate its business and make operating decisions.  In addition, Commvault believes these non-GAAP operating measures are useful to investors, when used as a supplement to GAAP financial measures, in evaluating Commvault’s ongoing operational performance.  Commvault believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends, and in comparing its financial results with other companies in Commvault’s industry, many of which present similar non-GAAP financial measures to the investment community.  Commvault has also provided software and products, services and total revenues on a constant currency basis. Commvault analyzes revenue growth on a constant currency basis in order to provide a comparable framework for assessing how the business performed excluding the effect of foreign currency fluctuations.

All of these non-GAAP financial measures should be considered as a supplement to, and not as a substitute for or superior to, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, which are provided in Table IV included in this press release.

Non-GAAP income from operations and non-GAAP income from operations margin.  These non-GAAP financial measures exclude noncash stock-based compensation charges and additional FICA and related payroll tax expense incurred by Commvault when employees exercise in the money stock options or vest in restricted stock awards as well as restructuring costs.  In fiscal 2020, Commvault also excluded costs related to a non-routine shareholder matter. Commvault has also excluded the noncash amortization and impairment of intangible assets and certain costs related to key employees of Hedvig from its non-GAAP results. These expenses are further discussed in Table IV.  Commvault believes that these non-GAAP financial measures are useful metrics for management and investors because they compare Commvault’s core operating results over multiple periods.  When evaluating the performance of Commvault’s operating results and developing short- and long-term plans, Commvault does not consider such expenses. 

Although noncash stock-based compensation and the additional FICA and related payroll tax expenses are necessary to attract and retain employees, Commvault places its primary emphasis on stockholder dilution as compared to the accounting charges related to such equity compensation plans.  Commvault believes that providing non-GAAP financial measures that exclude noncash stock-based compensation expense and the additional FICA and related payroll tax expenses incurred on stock option exercises and vesting of restricted stock awards allow investors to make meaningful comparisons between Commvault’s operating results and those of other companies.

Amortization and impairment charges of intangible assets are noncash items.  Commvault believes the exclusion of these expenses provide for a useful comparison of operating results to prior periods and to other companies.

There are a number of limitations related to the use of non-GAAP income from operations and non-GAAP income from operations margin.  The most significant limitation is that these non-GAAP financial measures exclude certain operating costs, primarily related to noncash stock-based compensation, which is of a recurring nature.  Noncash stock-based compensation has been, and will continue to be for the foreseeable future, a significant recurring expense in Commvault’s operating results.  In addition, noncash stock-based compensation is an important part of Commvault’s employees’ compensation and can have a significant impact on their performance.  Lastly, the components that Commvault excludes in its non-GAAP financial measures may differ from the components that its peer companies exclude when they report their non-GAAP financial measures.  

Commvault’s management generally compensates for the limitations described above related to the use of non-GAAP financial measures by providing investors with a reconciliation of the non-GAAP financial measure to the most directly comparable GAAP financial measure. Further, Commvault management uses non-GAAP financial measures only in addition to, and in conjunction with, results presented in accordance with GAAP.

Non-GAAP net income and non-GAAP diluted earnings per share (EPS).  In addition to the adjustments discussed in non-GAAP income from operations, non-GAAP net income and non-GAAP diluted EPS incorporates a non-GAAP effective tax rate of 27%. 

Commvault anticipates that in any given period its non-GAAP tax rate may be either higher or lower than the GAAP tax rate as evidenced by historical fluctuations. The GAAP tax rates in recent fiscal years were not meaningful percentages due to the dollar amount of GAAP pre-tax income.  For the same reason as the GAAP tax rates, the estimated cash tax rates in recent fiscal years are not meaningful percentages. Commvault defines its cash tax rate as the total amount of cash income taxes payable for the fiscal year divided by consolidated GAAP pre-tax income. Over time, Commvault believes its GAAP and cash tax rates will align.

Commvault considers non-GAAP net income and non-GAAP diluted EPS useful metrics for Commvault management and its investors for the same basic reasons that Commvault uses non-GAAP income from operations and non-GAAP income from operations margin. In addition, the same limitations as well as management actions to compensate for such limitations described above also apply to Commvault’s use of non-GAAP net income and non-GAAP EPS.

Conference Call Information
Commvault will host its FutureReady Investor Event today, January 27, 2021 at 11:00 a.m. Eastern Time (8:00 a.m. Pacific Time) to discuss quarterly results, its long-term vision and strategy and provide a multi-year business outlook. Investors can register and access the live webcast by visiting the event site on Commvault’s website. The meeting will include a slide presentation and participants are encouraged to view the presentation via webcast at the event site.

About Commvault
Commvault is the recognized leader in data backup and recovery. Commvault’s converged data management solution redefines what backup means for the progressive enterprise through solutions that protect, manage and use their most critical asset — their data. Commvault software, solutions and services are available from the company and through a global ecosystem of trusted partners. Commvault employs more than 2,600 highly-skilled individuals across markets worldwide, is publicly traded on NASDAQ (CVLT), and is headquartered in Tinton Falls, New Jersey in the United States. To learn more about Commvault visit www.commvault.com

Safe Harbor Statement
This press release may contain forward-looking statements, including statements regarding financial projections, which are subject to risks and uncertainties, such as competitive factors, difficulties and delays inherent in the development, manufacturing, marketing and sale of software products and related services, general economic conditions, outcome of litigation and others. For a discussion of these and other risks and uncertainties affecting Commvault’s business, see “Item IA. Risk Factors” in our annual report in Form 10-K and “Item 1A. Risk Factors” in our most recent quarter report in Form 10-Q. Statements regarding Commvault’s beliefs, plans, expectations or intentions regarding the future are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from anticipated results. Commvault does not undertake to update its forward-looking statements. The development and timing of any product release as well as any of its features or functionality remain at our sole discretion.

©1999-2021 Commvault Systems, Inc. All rights reserved. Commvault, Commvault and logo, the “C hexagon” logo, Commvault Systems, Commvault HyperScale, ScaleProtect, Commvault OnePass, Unified Data Management, Quick Recovery, QR, CommNet, GridStor, Vault Tracker, InnerVault, Quick Snap, QSnap, IntelliSnap, Recovery Director, CommServe, CommCell, APSS, Commvault Edge, Commvault GO, Commvault Advantage, Commvault Complete, Commvault Activate, Commvault Orchestrate, Commvault Command Center, Hedvig, Universal Data Plane, the “Cube” logo, Metallic, the “M Wave” logo, Be Ready and CommValue are trademarks or registered trademarks of Commvault Systems, Inc. All other third party brands, products, service names, trademarks, or registered service marks are the property of and used to identify the products or services of their respective owners. All specifications are subject to change without notice.

 


Table I


Commvault Systems, Inc.

 


Consolidated Statements of Operations


(In thousands, except per share data)


(Unaudited)


Three Months Ended
December 31,


Nine Months Ended
December 31,


2020


2019


2020


2019

Revenues:

Software and products

$

88,625

$

76,631

$

237,488

$

208,900

Services

99,367

99,720

294,643

297,236

Total revenues

187,992

176,351

532,131

506,136

Cost of revenues:

Software and products

6,916

8,077

20,666

22,938

Services

21,496

22,446

59,096

67,546

Total cost of revenues

28,412

30,523

79,762

90,484

Gross margin

159,580

145,828

452,369

415,652

Operating expenses:

Sales and marketing

84,542

84,563

245,287

252,908

Research and development

35,727

30,503

97,824

77,310

General and administrative

22,702

23,864

69,009

71,124

Restructuring

11,618

2,021

19,709

18,951

Impairment of intangible assets

40,700

Depreciation and amortization

2,323

5,356

12,441

10,681

Total operating expenses

156,912

146,307

484,970

430,974

Income (loss) from operations

2,668

(479)

(32,601)

(15,322)

Interest income

167

786

759

4,270

Income (loss) before income taxes

2,835

307

(31,842)

(11,052)

Income tax expense

1,162

957

5,373

3,528

Net income (loss)

$

1,673

$

(650)

$

(37,215)

$

(14,580)

Net income (loss) per common share:

Basic

$

0.04

$

(0.01)

$

(0.80)

$

(0.32)

Diluted

$

0.03

$

(0.01)

$

(0.80)

$

(0.32)

Weighted average common shares outstanding:

Basic

47,013

46,028

46,575

45,586

Diluted

48,013

46,028

46,575

45,586

 


Table II


Commvault Systems, Inc.

 


Condensed Consolidated Balance Sheets


(In thousands)


(Unaudited)


December 31,


March 31,


2020


2020


ASSETS

Current assets:

Cash and cash equivalents

$

377,569

$

288,082

Restricted cash

8,000

Short-term investments

10,845

43,645

Trade accounts receivable, net

190,651

146,990

Other current assets

27,570

26,969

Total current assets

606,635

513,686

Property and equipment, net

113,079

114,519

Operating lease assets

23,709

15,009

Deferred commissions cost

35,306

31,394

Intangible assets, net

46,350

Goodwill

112,435

112,435

Other assets

14,415

11,683

Total assets

$

905,579

$

845,076


LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:

Accounts payable

$

622

$

307

Accrued liabilities

102,924

87,051

Current portion of operating lease liabilities

8,346

7,699

Deferred revenue

247,544

233,497

Total current liabilities

359,436

328,554

Deferred revenue, less current portion

108,280

92,723

Deferred tax liabilities, net

807

849

Long-term operating lease liabilities

17,561

8,808

Other liabilities

5,424

2,238

Total stockholders’ equity

414,071

411,904

Total liabilities and stockholders’ equity

$

905,579

$

845,076

 


Table III


Commvault Systems, Inc.

 


Consolidated Statements of Cash Flows


(In thousands)


(Unaudited)


Three Months Ended
December 31,


Nine Months Ended
December 31,


2020


2019


2020


2019


Cash flows from operating activities

Net income (loss)

$

1,673

$

(650)

$

(37,215)

$

(14,580)

Adjustments to reconcile net income (loss) to net cash provided by
operating activities:

Depreciation and amortization

2,636

5,564

13,379

11,618

Noncash stock-based compensation

22,037

18,974

61,572

48,581

Impairment of intangible assets

40,700

Amortization of deferred commissions cost

4,221

4,420

13,747

13,150

Impairment of operating lease assets

612

145

1,304

2,195

Changes in operating assets and liabilities:

Trade accounts receivable, net

(42,607)

(32,890)

(38,970)

12,735

Operating lease assets and liabilities, net

89

(554)

(719)

(512)

Other current assets and Other assets

(3,027)

7,382

6,955

5,586

Deferred commissions cost

(5,981)

(4,390)

(15,946)

(11,352)

Accounts payable

340

(1,301)

273

(1,726)

Accrued liabilities

17,635

(1,003)

484

(2,018)

Deferred revenue

20,941

5,817

10,719

(6,262)

Other liabilities

(1,564)

(625)

2,964

(1,407)

Net cash provided by operating activities

17,005

889

59,247

56,008


Cash flows from investing activities

Purchase of short-term investments

(32,800)

Proceeds from maturity of short-term investments

32,631

32,800

98,150

Business combination, net of cash acquired

(157,495)

(157,495)

Purchase of property and equipment, net

(2,332)

(454)

(5,994)

(1,911)

Net cash provided by (used in) investing activities

(2,332)

(125,318)

26,806

(94,056)


Cash flows from financing activities

Repurchase of common stock

(33,132)

(33,132)

(40,026)

Proceeds from stock-based compensation plans

1,732

24,619

7,003

30,944

Net cash provided by (used in) financing activities

(31,400)

24,619

(26,129)

(9,082)

Effects of exchange rate — changes in cash

11,143

2,210

21,563

(837)

Net increase (decrease) in cash, cash equivalents and restricted cash

(5,584)

(97,600)

81,487

(47,967)

Cash, cash equivalents and restricted cash at beginning of period

383,153

377,625

296,082

327,992

Cash, cash equivalents and restricted cash at end of period

$

377,569

$

280,025

$

377,569

$

280,025

 


Table IV


Commvault Systems, Inc.

 


Reconciliation of GAAP to Non-GAAP Financial Measures and Other Financial Information


(In thousands, except per share data)


(Unaudited)


Three Months Ended
December 31,


Nine Months Ended
December 31,


2020


2019


2020


2019


Non-GAAP financial measures and reconciliation:

GAAP income (loss) from operations

$

2,668

$

(479)

$

(32,601)

$

(15,322)

Noncash stock-based compensation (1)

20,883

18,265

59,714

46,899

FICA and payroll tax expense related to stock-based compensation (2)

724

550

1,244

1,190

Restructuring (3)

11,618

2,021

19,709

18,951

Non-routine shareholder matters (4)

7,628

Amortization of intangible assets (5)

2,825

5,650

2,825

Hedvig deferred payments (6)

1,406

1,406

4,218

1,406

Acquisition costs (7)

4,356

5,639

Impairment of intangible assets (8)

40,700


Non-GAAP income from operations


$


37,299


$


28,944


$


98,634


$


69,216

GAAP net income (loss)

$

1,673

$

(650)

$

(37,215)

$

(14,580)

Noncash stock-based compensation (1)

20,883

18,265

59,714

46,899

FICA and payroll tax expense related to stock-based compensation (2)

724

550

1,244

1,190

Restructuring (3)

11,618

2,021

19,709

18,951

Non-routine shareholder matters (4)

7,628

Amortization of intangible assets (5)

2,825

5,650

2,825

Hedvig deferred payments (6)

1,406

1,406

4,218

1,406

Acquisition costs (7)

4,356

5,639

Impairment of intangible assets (8)

40,700

Non-GAAP provision for income taxes adjustment (9)

(8,955)

(7,069)

(21,464)

(16,313)


Non-GAAP net income


$


27,349


$


21,704


$


72,556


$


53,645

Diluted weighted average shares outstanding

48,013

46,598

47,281

46,272


Non-GAAP diluted earnings per share


$


0.57


$


0.47


$


1.53


$


1.16


Three Months Ended
December 31,


Nine Months Ended
December 31,


2020


2019


2020


2019

Subscription software and products revenue

$

48,650

$

31,749

$

138,239

$

86,049

Perpetual software and products revenue

39,975

44,882

99,249

122,851

Total software and products revenue

$

88,625

$

76,631

$

237,488

$

208,900


Subscription as a % of total software and products revenue


55%


41%


58%


41%


Three Months Ended
December 31,


Nine Months Ended
December 31,


2020


2019


2020


2019

Subscription software and products revenue

$

48,650

$

31,749

$

138,239

$

86,049

Recurring support and services revenue

91,375

91,694

271,966

273,305

Total recurring revenue

$

140,025

$

123,443

$

410,205

$

359,354


Percentage of total revenues


74%


70%


77%


71%

Perpetual software and products revenue

$

39,975

$

44,882

$

99,249

$

122,851

Non-recurring services revenue

7,992

8,026

22,677

23,931

Total non-recurring revenue

$

47,967

$

52,908

$

121,926

$

146,782


Percentage of total revenues


26%


30%


23%


29%


Total Revenue (10)

$

187,992

$

176,351

$

532,131

$

506,136

 


Measures at period ending ($000s)


December 31, 2019


March 31, 2020


December 31, 2020

Annualized Recurring Revenue (11)

$

458,683

$

451,667

$

507,242

 


Three Months Ended December 31, 2020


Americas


EMEA


APJ


Total

Software and Products Revenue

$

43,636

$

33,374

$

11,615

$

88,625

Customer Support Revenue

53,488

25,808

10,386

89,682

Other Services Revenue

5,031

3,332

1,322

9,685

Total Revenue

$

102,155

$

62,514

$

23,323

$

187,992


Three Months Ended December 31, 2019


Americas


EMEA


APJ


Total

Software and Products Revenue

$

40,291

$

29,107

$

7,233

$

76,631

Customer Support Revenue

57,856

22,237

10,438

90,531

Other Services Revenue

4,883

2,673

1,633

9,189

Total Revenue

$

103,030

$

54,017

$

19,304

$

176,351


Nine Months Ended December 31, 2020


Americas


EMEA


APJ


Total

Software and Products Revenue

$

133,522

$

74,232

$

29,734

$

237,488

Customer Support Revenue

162,903

74,029

30,840

267,772

Other Services Revenue

13,938

8,971

3,962

26,871

Total Revenue

$

310,363

$

157,232

$

64,536

$

532,131


Nine Months Ended December 31, 2019


Americas


EMEA


APJ


Total

Software and Products Revenue

$

107,375

$

71,922

$

29,603

$

208,900

Customer Support Revenue

173,450

65,810

30,756

270,016

Other Services Revenue

14,179

8,035

5,006

27,220

Total Revenue

$

295,004

$

145,767

$

65,365

$

506,136

 


Three Months Ended
December 31, 2020


Nine Months Ended
December 31, 2020


Sequential


Year Over Year


Year Over Year


Non-GAAP software and products revenue reconciliation

  GAAP software and products revenue

$

88,625

$

88,625

$

237,488

      Adjustment for currency impact

(1,404)

(2,822)

(3,531)


Non-GAAP software and products revenue on a constant currency basis (12)

$

87,221

$

85,803

$

233,957


Three Months Ended
December 31, 2020


Nine Months Ended
December 31, 2020


Sequential


Year Over Year


Year Over Year


Non-GAAP services revenue reconciliation

  GAAP services revenue

$

99,367

$

99,367

$

294,643

      Adjustment for currency impact

(1,054)

(2,459)

(2,884)


Non-GAAP services revenue on a constant currency basis (12)

$

98,313

$

96,908

$

291,759


Three Months Ended
December 31, 2020


Nine Months Ended
December 31, 2020


Sequential


Year Over Year


Year Over Year


Non-GAAP total revenue reconciliation

  GAAP total revenues

$

187,992

$

187,992

$

532,131

      Adjustment for currency impact

(2,458)

(5,281)

(6,415)


Non-GAAP total revenues on a constant currency basis (12)

$

185,534

$

182,711

$

525,716

 


Footnotes – Adjustments

(1)

Represents noncash stock-based compensation charges associated with restricted stock units granted and our Employee Stock Purchase Plan.  Those amounts are represented as follows:


Three Months Ended
December 31,


Nine Months Ended
December 31,


2020


2019


2020


2019

Cost of services revenue

$

945

$

635

$

2,351

$

2,023

Sales and marketing

9,714

9,128

25,906

24,133

Research and development

6,203

5,222

17,722

9,226

General and administrative

4,021

3,280

13,735

11,517

Stock-based compensation expense

$

20,883

$

18,265

$

59,714

$

46,899

The table above excludes stock-based compensation expense related to the Company’s restructuring activities described below in footnote three.

(2)

Represents additional FICA and related payroll tax expenses incurred by Commvault when employees exercise in the money stock options or vest in restricted stock awards.

(3)

In recent fiscal years, Commvault initiated restructuring plans to increase efficiency in its sales, marketing and distribution functions as well as reduce costs across all functional areas.  These restructuring charges relate primarily to severance and related costs associated with headcount reductions, as well as the closure of offices.  Restructuring includes stock-based compensation related to modifications of awards granted to former employees.  Management believes, when used as a supplement to GAAP results, that the exclusion of these charges will help investors and financial analysts understand Commvault’s operating results and underlying operational trends as compared to prior periods.

(4)

During fiscal 2020, Commvault incurred costs related to a non-routine shareholder matter.  The costs are for professional fees related to the settlement agreement with the shareholder and consulting fees incurred with the operational review which was agreed to as part of the settlement. Management believes, when used as a supplement to GAAP results, that the exclusion of these costs will better help investors and financial analysts understand Commvault’s operating results and underlying operational trends as compared to prior periods.

(5)

Represents noncash amortization of intangible assets. Amortization of intangible assets may fluctuate in amount and frequency and Management considers this to be outside of Commvault’s normal operating results.

(6)

In connection with the acquisition of Hedvig Inc., certain Hedvig shareholders will receive cash payments for the 30 months following the date of acquisition, subject to their continued employment with Commvault.  While these payments are proportionate to these shareholders’ ownership of Hedvig, under GAAP they are accounted for as compensation expense within Research and development expenses over the course of the 30 month service period.  Management believes, when used as a supplement to GAAP results, that the exclusion of these non-routine expenses will help investors and financial analysts understand Commvault’s operating results and underlying operational trends as compared to prior periods.

(7)

During the second quarter of fiscal 2020, Commvault incurred costs related to the acquisition of Hedvig, Inc. Management believes, when used as a supplement to GAAP results, that the exclusion of these costs will help investors and financial analysts understand Commvault’s operating results and underlying operational trends as compared to other periods.

(8)

In the second quarter of fiscal 2021, Commvault recorded an impairment charge of its acquired intangible assets. These non-cash charges are not representative of ongoing costs to the business and are not expected to recur. As a result, these charges are being excluded to provide investors with a more comparable measure of costs associated with ongoing operations.

(9)

The provision for income taxes is adjusted to reflect Commvault’s estimated non-GAAP effective tax rate of 27%.

(10)

This table includes the following financial metrics that are derived from Commvault’s GAAP recognized revenue:


Subscription software and products revenue – The amounts included on this line include the software and product portion of a) non-cancellable term-based, or subscription, licenses that expire at the end of the contractual term; and b) “pay-as-you-go” utility arrangements based on product usage that are structured with no guaranteed minimums.  These revenues are included in Software and Products Revenue on Commvault’s Consolidated Statement of Operations.


Perpetual software and products revenue – The amounts included on this line are primarily associated with revenue from the sale of perpetual software licenses.  These revenues are included in Software and Products Revenue on Commvault’s Consolidated Statement of Operations.


Recurring support and services revenue – The amounts included on this line consist primarily of maintenance and support revenues associated with the sale of both subscription and perpetual software arrangements.  This revenue is included in Services Revenue on Commvault’s Consolidated Statement of Operations. This line also includes revenue from software-as-a-service arrangements.


Non-recurring services revenue – The amounts included on this line are primarily revenues associated with Commvault’s installation and consultation services.  These revenues are included in Services Revenue on Commvault’s Consolidated Statement of Operations.

Management believes that reviewing these metrics, in addition to GAAP results, helps investors and financial analysts understand the recurring nature of certain revenue amounts and trends as compared to prior periods. 

Note that nearly all of Commvault’s software and product revenue is related to solutions that are run in the customer’s environment.  Commvault currently does not have material revenue related to hosted, or software as a solution products.  As a result, as required under ASC 606, substantially all of Commvault’s software and product revenue is recognized at a point in time, when it is delivered to the customer, and not ratably over the course of a contractual period.  This is the case for both perpetual software licenses and subscription software licenses. Metallic, Commvault’s software-as-a-service offering is recognized over time as services revenue.

(11)

Annualized Recurring Revenue (ARR) is defined as the annualized recurring value of all active contracts at the end of a reporting period.  It includes the following contract types: subscription agreements (including utility), maintenance contracts related to perpetual licenses, other extended maintenance contracts (enterprise support), managed services, and Metallic.  It excludes any element of the deal arrangement that is not expected to recur, primarily perpetual licenses and most professional services.  Contracts will be annualized by dividing the total contract value by the number of days in the contract term, then multiplying by 365.

ARR should be viewed independently of GAAP revenue, deferred revenue and unbilled revenue and is not intended to be combined with or to replace those items. ARR is not a forecast of future revenue. Management believes that reviewing this metric, in addition to GAAP results, helps investors and financial analysts understand the value of Commvault’s recurring revenue streams versus prior periods. 

(12)

Revenues on a constant currency basis are calculated using the average foreign exchange rates from a previous period and applying these rates to foreign-denominated revenues in the corresponding period of fiscal 2021. The difference between revenue calculated based on these foreign exchange rates and revenues calculated in accordance with GAAP is listed as Adjustment for currency impact in the table above.

 

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SOURCE Commvault

Verisk to Announce Fiscal Fourth-Quarter 2020 Results on February 23, 2021

Jersey City, N.J., Jan. 27, 2021 (GLOBE NEWSWIRE) — Verisk (Nasdaq:VRSK), a leading global data analytics provider, will report its financial results for the fiscal fourth quarter ended December 31, 2020, on Tuesday, February 23, 2021, after the market close. The press release, with accompanying financial information, will be posted on the Verisk investor website at http://investor.verisk.com.

Verisk’s management team will host a live audio webcast to discuss the financial results and business highlights on Wednesday, February 24, 2021, at 8:30 a.m. EST (5:30 a.m. PST, 1:30 p.m. GMT). All interested parties are invited to listen to the live event via webcast on the Verisk investor website at http://investor.verisk.com. The discussion will also be available through dial-in number 1-877-755-3792 for U.S./Canada participants or 512-961-6560 for international participants.

A replay of the webcast will be available for 30 days on the Verisk investor website and through the conference call number 1-855-859-2056 for U.S./Canada participants or 404-537-3406 for international participants using Conference ID #5731667.

About Verisk  
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer, and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.

Contact:

Investor Relations  
Stacey Brodbar
Head of Investor Relations
Verisk 
201-469-4327 
[email protected]

Media 

Alberto Canal
Verisk
201-469-2618
[email protected]



Aquila Resources Provides Corporate Update

Aquila Resources Provides Corporate Update

Highlights

  • Appealed the Judge’s Wetlands Permit decision to the EGLE permit review panel
  • Received an outpouring of local support from senior leadership in Michigan
  • Will continue to work with EGLE to finalize the Back Forty groundwater model in support of a revised application seeking a reissuance of the Wetlands Permit
  • Will undertake optimization studies to assess Project opportunities
  • Evaluating financing alternatives with support from key stakeholders

TORONTO–(BUSINESS WIRE)–
Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) (“Aquila” or the “Company”) is pleased to provide an update on its strategy to advance its Back Forty Project in Michigan’s Upper Peninsula following the January 4, 2021 decision by an Administrative Law Judge (“Judge”) denying the prior issuance of a wetland/stream/floodplain permit (“Wetlands Permit”). The Michigan Department of Environment, Great Lakes, and Energy (“EGLE”) issued the Wetlands Permit to the Company in June 2018 following years of environmental baseline work and a thorough review process including comment periods and public hearings and review by the U.S. Environmental Protection Agency. Aquila believes that the Judge’s decision was based largely on a strict interpretation of the administrative completeness of the permit application rather than a specific view on the Project itself. As Aquila has been proactive in addressing the initial permit conditions since the issuance of the Wetlands Permit, the Company believes the Judge’s decision only represents a temporary setback for the Project.

Barry Hildred, President & CEO of Aquila, commented, “While we were disappointed by the Judge’s decision, we have a high level of confidence that there is a clear path to successfully permitting the Back Forty Project, regardless of the outcome of our appeal. Our relationship with EGLE is strong and we have made good progress addressing the conditions in the original Wetlands Permit. Given the current uncertain economic climate, we believe that projects like Back Forty are even more critical to providing the jobs and community support that Michigan needs, while at the same time protecting the environment.”

Appeal to EGLE Environmental Review Panel

Aquila has appealed the Judge’s decision to the EGLE environmental review panel (“Panel”). EGLE will convene a three-person panel of experts with relevant experience within 45 days. The Panel will then hear arguments and is expected to render a decision later in 2021. The Panel has the authority to adopt, remand, modify, or reverse, in whole or in part, the Judge’s decision. The decision of the Panel will become the final decision of EGLE.

Through its appeal, at a minimum, Aquila is seeking to clarify certain aspects of the decision to facilitate further permitting efforts for the Back Forty Project. The Judge found Aquila’s Wetlands Permit application to be administratively incomplete due to alleged lack of an agreed upon groundwater model and lack of reliable identification of potential indirect wetland impacts related to groundwater drawdown caused by pit dewatering. The Judge’s determination that the Project is not in the public interest and that Aquila’s alternatives analysis was inadequate was largely based on the same alleged lack of information about indirect wetland impacts. As such, even though Aquila has been working with EGLE to satisfy permit conditions requiring further data collection and groundwater modeling to validate previous conclusions regarding indirect impacts, the Judge found that the statute required Aquila to provide all of the information before a permit could be issued.

Notably, the Company believes that there is nothing in the decision that would prevent Aquila from obtaining a Wetlands Permit for the same or a similar mine plan.

While the appeal is in process, the Company requested, and has been granted, a stay of proceedings of the contested case related to the amended Mining Permit.

The Back Forty Project Continues to Receive Strong Support from Local Leadership

Aquila is pleased to highlight the support that the Back Forty Project has received locally.

A delegation of Upper Peninsula lawmakers including Sens. Ed McBroom and Wayne Schmidt, and Reps. Greg Markkanen, Beau LaFave, and Sara Cambensy expressed their support for responsible mining and the Back Forty Project in a joint statement:

Mining has been a critical component of the Upper Peninsula way of life for generations. Our state has enacted some of the most stringent mining and environmental regulations in the world to ensure that Michigan mines must operate as good stewards and valued parts of our local communities.

Through a rigorous process with EGLE, this permit was rightly approved, and we remain hopeful that the department will work with Aquila to address this wrongful rejection of the permit…. We vow to work together in stressing the importance of this project and reasonable regulations overall, as one U.P., to ensure that one judge’s decision is not the policy position advanced in Michigan. Our communities want and support mining in the U.P. now as in the past generations.

In a letter to the Company dated January 20, 2021, Tony Retaskie, Executive Director of the Upper Peninsula Construction Council (“UPCC”), a group made up of over 250 quality construction contractors located across the Upper Peninsula of Michigan, stated:

On behalf of the U.P. Construction Council, I’m sorely disheartened by the rejection of your Wetlands Permit Application.

Our Labor/Management Council, made up of nearly 3,500 members, fully supports responsible mining such as what Aquila Resources proposes with the Back Forty Project. We realize the positive economic spiral this project would create for the Upper Peninsula. With an initial capital investment of $250 million and a life of mine payroll estimated to exceed $280 million, the Back Forty Mine would directly and indirectly create hundreds of jobs, including construction hires, paying solid, family sustaining wages. The Project will also contribute greatly to Michigan and local budgets as a major tax and royalty payer.

Mined products, as you know, are everywhere in our daily lives, from beauty products, to transportation and cell phones. The UPCC would prefer these products be mined here, where we have some of the strongest mine regulations there are.

Although we are disappointed with the judge’s decision, we urge you to continue your efforts to advance the Project to the operations phase and we pledge our support for the Back Forty Project.

The Company will Continue to Work with EGLE to Secure a Reissued Permit

It has always been the Company’s intention to satisfy the original Wetlands Permit conditions and Aquila has made significant progress over the last two years in this respect. In particular, data collection and interpretation related to the groundwater model is substantially complete. In parallel with its appeal, Aquila will continue to work closely with EGLE to reach consensus on the groundwater model. Once EGLE has accepted the Company’s model, EGLE will be in a position to evaluate a revised permit application and reissue the Wetlands Permit.

Project Optimization Studies

As the Company works through the appeal and continues its collaboration with EGLE in support of a revised Wetlands Permit application, the Company will conduct optimization studies that will seek to evaluate areas of opportunity identified in the Company’s 2020 Preliminary Economic Assessment. These include opportunities to increase gold recoveries in light of improved metal prices and optimizing the mine plan to enhance economics and reduce the open pit strip ratio. Fortunately, once EGLE has accepted the foundational groundwater model, the model can be applied in the context of any potential improvements to the Project.

Financing Update

Over the past several weeks, Aquila management has had numerous discussions with its key stakeholders including Osisko Gold Royalties Ltd. The stakeholders have reaffirmed their support for the Project and they share Aquila’s view that while the Judge’s decision represents a temporary setback, the Back Forty Project will be successfully permitted and built.

Aquila is working with its key stakeholders and its financial advisor to secure capital that will enable the Company to advance the above initiatives as well as to fund exploration activities at its Reef and Bend projects in Wisconsin.

ABOUT AQUILA

Aquila Resources Inc. (TSX: AQA, OTCQB: AQARF) is a development-stage company focused on high grade and gold-rich projects in the Upper Midwest, USA. Aquila’s experienced management team is focused on advancing pre-construction activities for its 100%‐owned gold and zinc-rich Back Forty Project in Michigan.

Aquila’s flagship Back Forty Project is an open pit volcanogenic massive sulfide deposit with underground potential located along the mineral-rich Penokean Volcanic Belt in Michigan’s Upper Peninsula. Back Forty contains approximately 1.1 million ounces of gold and 1.2 billion pounds of zinc in the Measured & Indicated Mineral Resource classifications, with additional upside potential.

Aquila has two other exploration projects: Reef Gold Project located in Marathon County, Wisconsin and the Bend Project located in Taylor County, Wisconsin. Reef is a gold-copper property and Bend is a volcanogenic massive sulfide occurrence containing copper and gold. Additional disclosure of Aquila’s financial statements, technical reports, material change reports, news releases and other information can be obtained at www.aquilaresources.com or on SEDAR at www.sedar.com.

Cautionary statement regarding forward-looking information

This press release may contain certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking statements and information include, but are not limited to, statements with respect to future permitting and legal timelines and the advancement of the Company’s Back Forty Project, the additional upside potential of the Project, statements with respect to the expected project economics for the Project, such as estimates of life of mine, total production and average production, metal production and recoveries, C1 cash costs, AISC, capital and operating costs, pre- and post-tax IRR, pre- and post-tax NPV and cash flows, the potential conversion of Inferred Mineral Resources into Indicated Mineral Resources, and any projections outlined in the Preliminary Economic Assessment in respect of the Project. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Aquila to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: risks with respect to the COVID-19 pandemic; and other related risks and uncertainties, including, but not limited to, risks and uncertainties disclosed in Aquila’s filings on its website at www.aquilaresources.com and on SEDAR at www.sedar.com. Aquila undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Aquila’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.

Barry Hildred

Aquila Resources Inc.

Tel: 647.943.5672

Email: [email protected]

Guy Le Bel

Aquila Resources Inc.

Tel: 450.582.6789

Email: [email protected]

David Carew

Aquila Resources Inc.

Tel: 647.943.5677

Email: [email protected]

KEYWORDS: Nevada Colorado Idaho Arizona Africa Australia/Oceania United States Canada North America Australia

INDUSTRY KEYWORDS: Mining/Minerals Natural Resources

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Advanced Energy to Announce Fourth Quarter and Full Year 2020 Results on February 10

Advanced Energy to Announce Fourth Quarter and Full Year 2020 Results on February 10

DENVER–(BUSINESS WIRE)–
Advanced Energy (Nasdaq: AEIS), a global leader in highly engineered, precision power conversion, measurement, and control solutions, will release its fourth quarter and full year 2020 financial results before the market opens on Wednesday, February 10, 2021. Management’s quarterly conference call will be held later that morning beginning at 8:30 a.m. Eastern Time.

To register for the call please use this link. After registering, a confirmation will be sent through email, including dial-in details and a unique conference call code for entry. Registration is open through the live call. To ensure you are connected for the full call, we suggest registering a day in advance or at minimum 10 minutes before the start of the call.

A live and archived webcast of the call will be available on the company’s website at www.advancedenergy.com on the Investors page. The archived webcast will be available approximately two hours following the end of the live event.

About Advanced Energy

Advanced Energy (Nasdaq: AEIS) is a global leader in the design and manufacturing of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. AE’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial, manufacturing, telecommunications, data center computing and healthcare. With engineering know-how and responsive service and support around the globe, the company builds collaborative partnerships to meet technology advances, propel growth for its customers and innovate the future of power. Advanced Energy has devoted more than three decades to perfecting power for its global customers and is headquartered in Denver, Colorado, USA. For more information, visit www.advancedenergy.com.

Advanced Energy | Precision. Power. Performance.

Brian Smith

Advanced Energy Industries, Inc.

(970) 407-6555

[email protected]

KEYWORDS: United States North America Colorado

INDUSTRY KEYWORDS: Technology Semiconductor Other Energy Engineering Telecommunications Manufacturing Energy Hardware Data Management Consumer Electronics

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Atlantica Included in Bloomberg’s Gender-Equality Index

January 27, 2021 – Atlantica Sustainable Infrastructure plc (NASDAQ: AY) (“Atlantica” or the “Company”) , the sustainable infrastructure company that owns a diversified portfolio of contracted assets in the energy and environment sectors, announced today that it has been included in the 2021 Bloomberg Gender-Equality Index (GEI). The GEI includes 380 companies across 11 sectors and 44 countries and regions.

Santiago Seage, Atlantica’s CEO said: “By becoming members of 2021 Bloomberg GEI Atlantica demonstrates its commitment to addressing gender equality and women empowerment. In 2018, we became a signatory to the United Nations Global Compact and selected Gender Equality as one of our core Sustainable Development Goals. In 2019, we issued our Diversity and Inclusion Policy and in 2020 we joined the Women’s Empowerment Principles. We intend to continue demonstrating our commitment to gender equality.”

The GEI brings transparency to gender-related practices and policies at publicly listed companies increasing the breadth of environmental, social, governance (ESG) data available to investors. The comprehensive, transparent GEI scoring methodology allows investors to assess company performance and compare across industry peer groups.

The reference index measures gender equality across five dimensions: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies, and pro-women brand.

Through disclosure of gender-related metrics using the GEI framework, the firms included in the 2021 GEI have committed to providing a comprehensive look at their investment in workplace gender equality and the communities in which they operate, raising the bar of what should be expected from other companies within the same industry. The inclusion of Atlantica in this year’s index, reflects its high level of disclosure and overall performance across the framework’s five dimensions.

About Atlantica

Atlantica Sustainable Infrastructure plc is a sustainable infrastructure company that owns a diversified portfolio of contracted renewable energy, efficient natural gas, electric transmission and water assets in North and South America, and certain markets in EMEA (https://www.atlantica.com/). 

Chief Financial Officer

Francisco Martinez-Davis

E [email protected]

                 

Investor Relations & Communication

Leire Perez

E [email protected]

T +44 20 3499 0465