Market Newsdesk

STOCKHOLM, Nov. 12, 2020 /PRNewswire/ — The Health⁺ offer from LightAir, the Swedish cleantech company, has received the International Facility Management Association’s annual Nordic Innovation Award.

LightAir’s prize-winning concept delivers double protection through both active and passive air purification, using two different technologies. ¹ The active air purification, using patented IonFlow technology, is receiving a lot of attention during the pandemic, since research by the renowned Karolinska Institutet has proved that it neutralizes 97% of airborne viruses, while they are still in the air.² Customers in the Nordic region mainly benefit from the Health⁺ concept through a subscription offering.

“We have a unique offer and together with our partners we are improving air quality at workplaces and schools. Facility Management is an industry that enables us to reach out widely with these solutions,” comments Joakim Hansson, Business Area Manager at LightAir. “This distinguished IFMA award for the innovation of the year will provide good tailwinds in our Nordic home market, as well as in our international rollout of the concept.”

The International Facility Management Association (IFMA) is the largest international network in facility management (FM), with 24,000 members in 105 countries. In recent years, the Swedish division has grown by over 100% and is today, with over 500 members, the obvious industry network for individuals and organizations within facility management in Sweden.

LightAir collaborates with a variety of Nordic sales and distribution FM partners regarding Health⁺. The first partnership agreement was concluded last year with Coor Service Management – one of the Nordic region’s leading FM providers. The company markets Health⁺ through its Coor SmartClimate offer and was also the nominating partner for the IFMA’s annual innovation award.

“We have seen how our customers receive a unique and flexible service that delivers true and great value at both company and individual levels,” says Mattias Wahlgren, Group Innovation Manager – Technology, at Coor. “It is encouraging that this offer has received this recognition from the industry. Collaboration with innovative partners such as LightAir adds to Coor’s service portfolio and our ambition to always offer our customers the market’s very best services and deliveries.”

The Health⁺ offer is currently available in LightAir’s Nordic home market and in a rapidly growing Dutch market. Broader launches in other international markets are underway.

¹

Patented technologies from LightAir

The active air purification in the Health⁺ offer is delivered through the patented IonFlow technology. This technology uses innovative ionization, which inactivates 97% of airborne viruses while they are still in the air, without passing any filter. Passive air purification takes place through LightAir’s patented CellFlow technology, which filters out 99.99% of ultra-fine particles and viruses. Read more at https://lightair.com/professional-solution

²

 Research reports

Research on IonFlow technology and airborne viruses from Karolinska Institutet – based on seven years of study – was published in the medical journal Nature Scientific Report: https://www.nature.com/articles/srep11431  Additional independent research and test reports: https://lightair.com/air-science/lightair-performance/test-reports/ 

CONTACT:

For further information, please contact:

Lars Liljeholm

CEO, LightAir AB (publ)
+46 708 28 61 96
[email protected]

Joakim Hansson

Business Area Manager, Professional Solutions, LightAir AB (publ)
+46 709 61 56 10
[email protected]

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/lightair/r/lightair-s-health-wins-ifma-nordic-innovation-award-2020,c3235982

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SOURCE LightAir

SAN DIEGO, Nov. 12, 2020 /PRNewswire/ — Halozyme Therapeutics, Inc. (NASDAQ: HALO) today announced that the Janssen Pharmaceutical Companies submitted regulatory applications to the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA) seeking approval of the daratumumab subcutaneous (SC) formulation, known as DARZALEX FASPRO™ (daratumumab and hyaluronidase-fihj) in the U.S. and as DARZALEX^® (daratumumab) SC in the European Union (EU). The applications seek approval of the combination of DARZALEX FASPRO™/ DARZALEX^® SC with pomalidomide and dexamethasone (D-Pd) for the treatment of patients with relapsed or refractory multiple myeloma who have received at least one prior line of therapy. As a fixed-dose formulation, DARZALEX FASPRO™/ DARZALEX^® SC can be administered over approximately three to five minutes under the skin, significantly less time than the intravenous (IV) formulation of DARZALEX^®, which is given over several hours. 

The supplemental Biologics License Application (sBLA) to the U.S. FDA and Type II variation application to the EMA are supported by positive findings from the Phase 3 APOLLO study (MMY3013), which met its primary endpoint of significantly longer progression-free survival (PFS) in patients with relapsed or refractory multiple myeloma who received D-Pd compared with Pd alone.¹

“We are pleased that Janssen has submitted applications in both the US and EU to expand the label for the subcutaneous form of DARZALEX^® utilizing our ENHANZE^® technology,” said Dr. Helen Torley, president and chief executive officer. “We look forward to the subcutaneous forms of DARZALEX^® becoming available for a broader group of patients with multiple myeloma, offering them the potential for reduced administration time from hours to minutes compared with the IV formulation.”

These applications are supported by positive results from the Phase 3 APOLLO study, which demonstrated improved significant progression-free survival in patients receiving the subcutaneous formulation of daratumumab.²

Full results from the Phase 3 APOLLO study, a collaboration between Janssen Research & Development, LLC and the European Myeloma Network (EMN), will be presented in an oral session  at the upcoming American Society of Hematology (ASH) Annual Meeting on Sunday, December 6, 2020 at 3:00 p.m. ET (Abstract #412).

The D-Pd regimen received approval from the U.S. FDA for the IV formulation of DARZALEX^® in 2017 for patients who have received at least two prior therapies, including lenalidomide and a proteasome inhibitor. This regimen for the IV formulation is not approved for use in Europe by the EMA.

About Halozyme
Halozyme is a biopharmaceutical company bringing disruptive solutions to significantly improve patient experiences and outcomes for emerging and established therapies. Halozyme advises and supports its biopharmaceutical partners in key aspects of new drug development with the goal of improving patients’ lives while helping its partners achieve global commercial success. As the innovators of the ENHANZE^® technology, which can reduce hours-long treatments to a matter of minutes, Halozyme’s commercially-validated solution has positively impacted more than 400,000 patient lives via five commercialized products across more than 100 global markets. Halozyme and its world-class partners are currently advancing multiple therapeutic programs intended to deliver innovative therapies, with the potential to improve the lives of patients around the globe. Halozyme’s proprietary enzyme rHuPH20 forms the basis of the ENHANZE^® technology and is used to facilitate the delivery of injected drugs and fluids, potentially reducing the treatment burden of other drugs to patients. Halozyme has licensed its ENHANZE^® technology to leading pharmaceutical and biotechnology companies including Roche, Baxalta, Pfizer, Janssen, AbbVie, Lilly, Bristol-Myers Squibb, Alexion and argenx. Halozyme derives revenues from these collaborations in the form of milestones and royalties as the Company’s partners make progress developing and commercializing their products being developed with ENHANZE^®. Halozyme is headquartered in San Diego. For more information visit www.halozyme.com.

Safe Harbor Statement
In addition to historical information, the statements set forth above include forward-looking statements including, without limitation, statements concerning the possible activity, benefits and attributes of ENHANZE^®, the possible method of action of ENHANZE^®, its potential application to aid in the dispersion and absorption of other injected therapeutic drugs, and statements concerning certain other potential benefits of ENHANZE^® including facilitating more rapid delivery of injectable medications through subcutaneous delivery. These forward-looking statements also include statements regarding the product development efforts of Halozyme’s ENHANZE^® partner. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements are typically, but not always, identified through use of the words “believe,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “plan,” “predict,” “probable,” “potential,” “possible,” “should,” “continue,” and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including uncertainties concerning whether collaborative products are ultimately developed, approved or commercialized, unexpected expenditures and costs, unexpected results or delays in development and regulatory review including any potential delays caused by the current COVID-19 global pandemic, unexpected regulatory approval requirements, unexpected adverse events or patient outcomes, and competitive conditions. These and other factors that may result in differences are discussed in greater detail in Halozyme’s most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission. Except as required by law, Halozyme undertakes no duty to update forward-looking statements to reflect events after the date of this release DARZALEX^® is a trademark of Janssen Pharmaceutica NV.

References:

¹  Chari, Ajai et al. “Daratumumab plus pomalidomide and dexamethasone in relapsed and/or refractory multiple myeloma.” Blood vol. 130,8 (2017): 974-981. doi:10.1182/blood-2017-05-785246
²  Comparison of Pomalidomide and Dexamethasone With or Without Daratumumab in Subjects With Relapsed or Refractory Multiple Myeloma Previously Treated With Lenalidomide and a Proteasome Inhibitor Daratumumab/Pomalidomide/Dexamethasone vs Pomalidomide/Dexamethasone (EMN14). Available at: https://clinicaltrials.gov/ct2/show/record/NCT03180736 Last accessed: October 2020.

Contact:

Al Kildani

Vice President, Investor Relations and Corporate Communications
858-704-8122
[email protected]

 

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SOURCE Halozyme Therapeutics, Inc.

VANCOUVER, BC, Nov. 12, 2020 /CNW/ – The following issues have been halted by IIROC:

Company: Lamaska Capital Corp.

TSX-Venture Symbol: LCC.P

All Issues: Yes

Reason: At the Request of the Company Pending News

Halt Time (ET): 8:00 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

STUTTGART, Germany, Nov. 12, 2020 /PRNewswire/ —

• Mercedes-Benz AG is fulfilling its responsibility as part of the sustainability offensive and is relying on sustainable supply chains for its electric vehicle fleet. Respect and protection of human rights and of the environment have the highest priority.
• Sourcing of cobalt and lithium exclusively from certified mines makes Mercedes-Benz AG a pioneer for the first cross-industry mining standard “Standard for Responsible Mining” of the “Initiative for Responsible Mining Assurance”.
• Countries of origin viewed as high-risk are deliberately not generally excluded as sources of supply in accordance with the principle of using leverage before withdrawing.
• In the coming generations of battery cells, Mercedes-Benz is already reducing the cobalt content to less than ten percent and intends to dispense with materials such as cobalt entirely through post-lithium-ion technologies with new material compositions. 

The Mercedes-Benz electric offensive is a key component of the strategic focus “Ambition2039” and a prerequisite on the way to carbon neutrality. Responsibly mined and processed raw materials provide the foundation for a sustainable Mercedes-Benz electric vehicle fleet. Respect and protection of human rights and of the environment, all the way from the mine to the finished product, are decisive in this respect. Currently, the focus is particularly on the battery raw materials cobalt and lithium.

Mercedes-Benz is taking a comprehensive approach across the whole battery technology chain – from research and development to series production. The cell is at the very heart of the battery and mastering its chemistry is therefore critical. “Mercedes-Benz’s clear development goal is to significantly increase the range of future batteries through advances in energy density, to advance the production maturity of future battery technologies, to significantly reduce charging times, and to further reduce the use of critical materials. In the coming generations of battery cells, the cobalt content is already being reduced to less than ten percent. In the future, we want to use post-lithium-ion technologies with new material compositions to completely dispense with materials such as cobalt. The further optimization of recyclability and its implementation at Mercedes-Benz is also part of the holistic battery strategy,” says Markus Schäfer, Member of the Board of Management of Daimler AG and Mercedes-Benz AG; responsible for Daimler Group Research and
Mercedes-Benz Cars COO.

Mercedes-Benz AG is taking a pioneering role with a comprehensive approach that promotes the socially acceptable and environmentally sound extraction of cobalt and lithium. The company insists on the use of strong standards for sustainability, making the industry-wide recognized “Standard for Responsible Mining” of the “Initiative for Responsible Mining Assurance” (IRMA) one of the key criteria for supplier decisions and supplier contracts within raw material supply chains. The standard is in the early stage of adoption by the industry, a process Daimler seeks to accelerate. In the company’s contracts, partners will need to commit to working within their own supply chain to source exclusively from raw material suppliers who are audited in accordance with the IRMA mining standard. The supply chains will in the future also be regularly monitored. 

Countries of origin viewed as high-risk are deliberately not generally excluded as sources of supply. Instead, the approach taken here aims to improve the local situation for the people working there and to strengthen their rights. By doing so, Mercedes-Benz AG is following the recommendation of non-governmental organizations, governments and other relevant interest groups not to withdraw from high-risk countries.

In accordance with the principle of using leverage before withdrawing, the aim is to encourage the local economy while at the same time ensuring that higher standards in relation to the protection of human rights are established.

“We have had the supply chains for our Mercedes-Benz electric vehicle fleet audited in line with OECD guidance, all the way back to the mine, even though we don’t source cobalt directly ourselves. Based on the insights gained, we will instruct our battery suppliers to only source cobalt and lithium from certified mining sites in the future. With this, we even go a step further and will ensure our sourcing is from mining sites compliant with the mining standard of the ‘Initiative for Responsible Mining Assurance’. This way, in addition to child labor and a range of other social concerns, environmental risks in the mining of raw materials can also be minimized. By doing so, we are paving the way for clean raw materials, from which other participants in the market can also benefit,” said Markus Schäfer. “Going forward, we will only work with suppliers who agree to comply with these requirements.”

“Our aspiration is very clear: we want our products to contain only raw materials that have been mined and produced without human rights violations. This is one of the core elements of our sustainable business strategy. This way, we are putting an important element of our Human Rights Respect System into practice and are shaping the path to electric drive systems in a sustainable way,” said Renata Jungo Brüngger, Member of the Board of Management of Daimler AG and Mercedes-Benz, responsible for Integrity and Legal Affairs.
“If there are any indications of risk, we take another, closer look at the supply chain. This involves us going beyond the direct suppliers and creating transparency, if necessary all the way back to the mine.”

Cobalt supply chains: stringent selection process

Already in 2018, Mercedes-Benz commissioned the auditing and advisory firm RCS Global to establish transparency over the complex cobalt supply chains behind battery cells and to audit these at every stage in accordance with OECD Due Diligence. More than 120 suppliers were identified and 60 audits were conducted after a corresponding risk assessment. As things stand at present, there are currently no cobalt mines certified in accordance with IRMA’s Standard for Responsible Mining. Cobalt is one of the raw materials in batteries that is subject to intense criticism in terms of human rights. Mercedes-Benz is therefore working with IRMA and RCS Global on a step-by-step approach for dealing with particularly challenging local situations. This approach will be taken with a limited number of cobalt mines in the Democratic Republic of the Congo, auditing them against a series of specific sets of requirements in the IRMA Standard for Responsible Mining. In addition to the human rights aspects, the environmentally friendly mining of raw materials and other key aspects relating to the consequences of industrial mining are examined. In the medium term, this approach aims on the one hand to formulate realistic expectations of the mining suppliers, while pressing for increasingly responsible practices in order to meet Daimler’s requirements for sustainable supply chains. The long-term objective is a clear commitment to a process of continuous improvement. Included in this are transitional periods for the achievement of different levels of performance for an IRMA certification.

Lithium: IRMA mining standard also mandatory for suppliers

With regard to lithium, Mercedes-Benz is also working to ensure that the raw material is sustainably extracted and that the IRMA mining standard will be enshrined in the supply contracts. In order to improve the situation in the mining areas at the same time, Daimler AG is in contact with development agencies and non-governmental organizations for possible projects on site.

Sustainability in Mercedes-Benz Procurement

Sustainability is a central pillar of the Mercedes-Benz purchasing strategy. On Mercedes-Benz’s way to CO₂-neutrality within the framework of “Ambition2039”, the focus is on the reduction of CO₂ emissions as well as on respecting and safeguarding human rights and the responsible use of resources along the entire supply chain. The new standards for the responsible procurement of raw materials apply only in the first step for cobalt and lithium. Daimler AG takes a systematic approach to counteracting human rights violations early and actively: A strategic approach to respecting human rights, the Human Rights Respect System has been developed both for its own entities and for its supply chains. As an important measure, the company has identified potential risk raw materials. The aim is to gradually make the supply chains for these potential risk raw materials transparent and to take risk-based measures. In the next step, it is planned to extend the procedure to other raw materials, initially to other battery raw materials.

About IRMA

With the “Initiative for Responsible Mining Assurance” (IRMA), there is now for the first time a multi-stakeholder standard for industrial mining, developed in a process of intensive discussion with industry, civil society, communities and labour unions. More than 100 experts and not-for-profit organisations were involved in defining the IRMA “Standard for Responsible Mining”. After more than a decade of development, the Standard was released in 2018 and independent auditing of mines began in 2019. Through its membership of IRMA, Daimler AG supports implementation of this high-bar standard, with the company’s medium-term objective being to support access to certified raw materials for all players in the market. The Standard for Responsible Mining is a comprehensive standard that encompasses the four elements of Business Integrity, Planning for Positive Legacies, Social Responsibility and Environmental Responsibility, and addresses a wide range of aspects such as Legal Compliance, Resettlement, Community health and safety, Waste and materials management. Further information can be found here: www.responsiblemining.net

About RCS Global

RCS Global is a leading responsible sourcing assurance and advisory company, supporting industry and individual companies at all tiers of the global value chain to identify, assess and manage, environmental, social and governance (ESG) risks in their supply chains. Partners include automotive and consumer electronics groups, battery manufacturers and trading companies around the world. Further information can be found here: www.rcsglobal.com

Further information on the subject of sustainability in the supply chain may be found at:

Strong for human rights – Daimler goes on the offensive for a sustainable raw material supply chain


Next step in the offensive “Strong for human rights”: Mercedes-Benz Cars enhances sustainability activities for the paint raw material Glimmer

Daimler intensifies activities for a sustainable raw material supply chain and joins further initiatives


Education to counter child labor – Daimler supports a social project in the Democratic Republic of the Congo with over one million euros

Daimler is committed to combating child labor: education projects in India and the Congo – joining another initiative

Mercedes-Benz AG at a glance
Mercedes-Benz AG is responsible for the global business of Mercedes-Benz Cars and Mercedes-Benz Vans with over 173,000 employees worldwide. Ola Källenius is Chairman of the Board of Management of Mercedes-Benz AG. The company focuses on the development, production and sales of passenger cars, vans and services. Furthermore, the company aspires to be leading in the fields of connectivity, automated driving and alternative drives with its forward-looking innovations. The product portfolio comprises the Mercedes-Benz brand with the sub-brands Mercedes-AMG, Mercedes-Maybach and Mercedes me – as well as the smart brand, and the EQ product and technology brand for electric mobility. Mercedes-Benz AG is one of the largest manufacturers of premium passenger cars. In 2019 it sold nearly 2.4 million cars and more than 438,000 vans. In its two business divisions, Mercedes-Benz AG is continually expanding its worldwide production network with over 40 production sites on four continents, while aligning itself to meet the requirements of electric mobility. At the same time, the company is developing its global battery production network on three continents. Sustainable actions play a decisive role in both business divisions. To the company, sustainability means creating value for all stakeholders on a lasting basis: customers, employees, investors, business partners and the society as a whole. The basis for this is the sustainable business strategy of Daimler in which the company takes responsibility for the economic, ecological and social effects of its business activities and looks at the entire value chain.

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SOURCE Daimler North America – Corporate Communications

REHOVOT, Israel, Nov. 12, 2020 /PRNewswire/ — Nova (Nasdaq: NVMI) today announced financial results for the third quarter 2020, the period ended September 30, 2020.

Business Highlights:

• Record quarterly revenue of $69.5 million, up 32% year-over-year
• GAAP net income of $13.9 million, or $0.48 per diluted share, up 60% year-over-year on a per-share basis
• Non-GAAP net income of $16.5 million, or $0.57 per diluted share, up 43% year-over-year on a per-share basis
• Record quarterly optical standalone revenues, driven by growing demand for Nova’s unique dimensional metrology solutions
• In October, completed a private offering of $200 million of 0% convertible senior notes due 2025

 

 

Management Comments

“Nova’s outstanding financial results for the quarter exceeded our previous expectations and guidance. These results demonstrate the resilience of our operational model and the strategic value we bring to our customers while they continue developing their next generation technology nodes,” commented Eitan Oppenhaim, President and Chief Executive Officer. “Following our strong operational execution in 2020, we remain confident in our strategy and the value we create, which provide us a solid base to deliver our long-term growth objectives.”

2020 Fourth Quarter Financial Outlook

Management provided an outlook for the fourth quarter, the period ending December 31, 2020. Based on current estimates, management expects:

• $66 million to $73 million in revenue
• $0.32 to $0.43 in diluted GAAP EPS
• $0.45 to $0.56 in diluted non-GAAP EPS

2020 Third Quarter Results

Total revenues for the third quarter of 2020 were $69.5 million, an increase of 11.0% compared with the second quarter of 2020 and an increase of 32.3% compared with the third quarter of 2019.

Gross margin for the third quarter of 2020 was 57.1%, compared with a gross margin of 58.5% in the second quarter of 2020, and compared with a gross margin of 52.4% in the third quarter of 2019.

Operating expenses in the third quarter of 2020 were $24.1 million, compared with $26.3 million in the second quarter of 2020 and compared with $21.0 million in the third quarter of 2019.

On a GAAP basis, the Company reported net income of $13.9 million, or $0.48 per diluted share, in the third quarter of 2020. This is compared with net income of $8.7 million, or $0.30 per diluted share, in the second quarter of 2020, and compared with net income of $8.6 million, or $0.30 per diluted share, in the third quarter of 2019.

On a non-GAAP basis, which excludes amortization of acquired intangible assets, stock-based compensation expenses, one-time expense related to a transaction made by a financial institution without Company authorization, facilities transition costs, revaluation of long-term liabilities and tax effect of non-GAAP adjustments, the Company reported net income of $16.5 million, or $0.57 per diluted share, in the third quarter of 2020. This is compared with net income of $13.8 million, or $0.48 per diluted share, in the second quarter of 2020, and compared with net income of $11.5 million, or $0.40 per diluted share, in the third quarter of 2019.

Conference Call Information

Nova will host a conference call today, November 12, 2020, at 9 a.m. Eastern Time, to discuss the financial results and outlook. To attend the conference call, please dial one of the following teleconferencing numbers. Please begin by placing your calls five minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.

U.S. TOLL-FREE Dial-in Number: 1-888-394-8218
ISRAEL TOLL-FREE Dial-in Number: 1-809-212-883
INTERNATIONAL Dial-in Number: 1-323-701-0225

At:

9 a.m. Eastern Time

6 a.m. Pacific Time

4 p.m. Israel Time
Please reference conference ID: 1420148

The conference call will also be webcast live from a link on Nova’s website at https://www.novami.com/investors/events/.

A replay of the conference call will be available from November 12, 2020 at 12 p.m. Eastern Time to November 19, 2020 at 11:59 p.m. Eastern Time. To access the replay, please dial one of the following numbers:

Replay Dial-in TOLL-FREE: 1-844-512-2921
Replay Dial-in TOLL/INTERNATIONAL: 1-412-317-6671
Replay Pin Number: 1420148

A replay will also be available for 90 days on Nova’s website at https://www.novami.com/investors/events/.

About Nova: Nova is a leading innovator and key provider of metrology solutions for advanced process control used in semiconductor manufacturing. Nova delivers continuous innovation by providing state-of-the-art high-performance metrology solutions for effective process control throughout the semiconductor fabrication lifecycle. Nova’s product portfolio, which combines high-precision hardware and cutting-edge software, provides its customers with deep insight into the development and production of the most advanced semiconductor devices. Nova’s unique capability to deliver innovative x-ray and optical solutions enables its customers to improve performance, enhance product yields and accelerate time to market. Nova acts as a partner to semiconductor manufacturers from its offices around the world. Additional information may be found at www.novami.com.

Nova is traded on the NASDAQ & TASE under the symbol NVMI.

This press release provides financial measures that exclude amortization of acquired intangible assets, stock-based compensation expenses, expense related to a transaction made by a financial institution without Company authorization, facilities transition costs, revaluation of long-term liabilities, tax effect of non-GAAP adjustments and amortization of debt discount and issuance costs, as applicable, and are therefore not calculated in accordance with generally accepted accounting principles (GAAP). Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding Nova’s performance because they reflect our operational results and enhance management’s and investors’ ability to evaluate Nova’s performance before charges or benefits considered by management to be outside Nova’s ongoing operating results. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management believes that it is in the best interest of its investors to provide financial information that will facilitate comparison of both historical and future results and allow greater transparency to supplemental information used by management in its financial and operational decision making. A reconciliation of each GAAP to non-GAAP financial measure discussed in this press release is contained in the accompanying financial tables..

This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding, but are not limited to, anticipated growth opportunities and projections about our business and its future revenues, expenses and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward-looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to, the following: our dependency on three product lines; our dependency on a small number of large customers and small number of suppliers; the highly cyclical and competitive nature of the markets we target and we operate in; our inability to reduce spending during a slowdown in the semiconductor industry; our ability to respond effectively on a timely basis to rapid technological changes; our dependency on PEMs; risks related to exclusivity obligations and non-limited liability that may be included in our commercial agreements and arrangements; our ability to retain our competitive position despite the ongoing consolidation in our industry; risks related to our dependence on our manufacturing facilities; risks related to changes in our order backlog; risks related to efforts to complete and integrate current and/or future acquisitions; risks related to worldwide financial and economic instabilities, including the implications of the ongoing novel coronavirus (COVID-19) pandemic; risks related to our intellectual property; new product offerings from our competitors; unanticipated manufacturing or supply problems; risks related to government programs we participate in; risks related to taxation; changes in customer demand for our products; risks related to currency fluctuations; risks related to technology security threats, including data breaches, cyberattacks and system disruptions, and changes in privacy laws; risks related to acquisitions we may pursue and risks related to our operations in Israel. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading “Risk Factors” in Nova’s Annual Report on Form 20-F for the year ended December 31, 2019 filed with the Securities and Exchange Commission on March 12, 2020. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Measuring Instruments Ltd. does not assume any obligation to update the forward-looking information contained in this press release.

 

 

 

 

 

 

 

 

* Stock-based compensation expenses for the three months ended September 30, 2020 included in – Cost of revenues products – 259; Cost of revenues services – 155; Research and development expenses, net – 713; Sales and marketing expenses – 409; General and administrative expenses – 410

 

 

 

 

 

 

 

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SOURCE Nova

WALNUT CREEK, Calif., Nov. 12, 2020 /PRNewswire/ — Insignia Capital Group today announced that it has entered into a definitive agreement to sell Truco Enterprises (“Truco” or the “Company”), a leading maker of tortilla chips, salsa and queso sold under the On The Border® (“OTB”) brand, to Utz Brands (NYSE: UTZ) for a total purchase price of $480 million. The deal is expected to close in December 2020 and is subject to customary closing conditions including the receipt of regulatory approvals.

Insignia Capital Group invested in Truco in 2014 to help the Company expand its distribution footprint and launch new product innovation. Together, Insignia and Truco made significant investments in sales and R&D that tripled adjusted EBITDA over the past six years. “It has been a true pleasure partnering with the Truco team to generate this exceptional outcome for all of the Company’s stakeholders,” said David Lowe, CEO of Insignia Capital Group.  “We believe Utz will be an exceptional steward of the brand as Truco executes on its next phase of growth.”

“The Truco team is thrilled to be joining the Utz family of brands, and we are thankful to our partners at Insignia Capital for all of their support”, said Truco CEO Shane Chambers.  “On The Border is now one of the fastest growing Tortilla chip brands and the fastest growing dip brand in the category.  Utz will be able to leverage its world class Direct Store Delivery network to help expand our brand into new markets.  As a result, more consumers across the U.S will have access to our delicious, high quality tortilla chips and dips.  I’m looking forward to working with Dylan and the rest of the Utz senior management team to continue our excellent growth trajectory.”

Harris Williams & Co. is acting as exclusive financial advisor and Kirkland & Ellis LLP is acting as legal counsel to Truco Enterprises and Insignia Capital Group. Goldman Sachs is acting as lead financial advisor to Utz Brands, Bank of America is acting as financial advisor, and Cozen O’Connor is serving as legal counsel to Utz Brands, Inc.

About Truco Enterprises
Truco is a leading developer and marketer of tortilla chips, salsa, and queso under the On The Border® brand. The Company’s products are sold nationally through grocery retailers, club stores, and mass merchandisers. Truco Enterprises is the exclusive licensee of the On The Border brand for food products sold through retail. For more information, please visit www.ontheborderchips.com. Truco Enterprises is a portfolio company of Insignia Capital Group.

About Insignia Capital Group
Insignia Capital Group is a San Francisco Bay Area private equity firm focused on middle-market companies. Insignia partners with company founders and management teams to help drive growth and achieve true business potential. The firm’s principals have significant experience building businesses across the consumer and business services sectors.  For more information, visit www.insigniacap.com.

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SOURCE Insignia Capital Group; Truco Enterprises