Category Archive : Business

RoodMicrotec N.V. Issues an unaudited interim report and half year results for 2020

RoodMicrotec N.V. has issued an interim report and the half year results for the financial period ending 30th June 2020. The semiconductors supply services company reported the total income of EUR 5.4 million for the first half of 2020, a 16% decrease compared to the first half year of 2019.

The company says total income during the first half year was impacted by the COVID-19 pandemic. The income is also 20% less than what the company provided in the outlook for the first half of 2020 presented in its fourth quarter of 2019. The second quarter of 2020 was most impacted by the pandemic which created the uncertainty in the market, resulting to a depressive short-term demand from the customers. There was postponement of deliveries but no cancellation was seen. While the new orders diminished or the customers also postponed the orders because of uncertain situation created by the COVID-19.

The company saw a significant decline in the net results during the first half of the year. It reported net results of EUR -0.7 million with a EUR 0.4 million decrease as compared to first half of 2019. However, the decline in the cost of raw materials amid Pandemic along with cost control measures helped the company to reduce the overall costs during the first half of 2020.

However, RoodMicrotec reported a positive cash flow of EUR 0.8 million from operating activities during the first six months of 2020 while the net cash flow of EUR -0.2 million on early 2020investments it achieved in a new test machine.

RoodMicrotec CEO Martin Sallenhag said, “It has been a tough first half year of 2020 but thanks to the dedication of our employees and the good relationships with our customers and suppliers we have been able to limit the effects of COVID-19. We are well prepared for the expected up-swing even though it is impossible to know exactly when this will happen. The current cash situation and the possibility to run short-time work enables us to continue to serve our customers at an outstanding level.”

Tanzanian Gold Involves in Financing Activities for the Expansion of Buckreef Plant

Tanzanian Gold Corp. is looking to expand its Buckreef Plant oxide mining and processing operation as it has announced the signing of a flexible financing agreement with institutional investors Riverfort Global Opportunities PLC. and YA II PN, Ltd for attaining unsecured convertible debentures of up to US$14 million. While it has also strengthened its balance sheet by converting outstanding gold loans and convertible loans of US$8.4 million into common shares.

The company will utilize the net proceeds from the Financing for a significant expansion of the Buckreef Project. While it will use the proceeds also for the advancement of a Feasibility Study for the larger sulphide mining complex, the continuation of multiple drilling programs, and general corporate purposes.

The new financing activities will help the mining company to empower shareholder value as the Company moves in to new phases of building a substantial mine at the Buckreef Project. It will support the expansion of production and helping it becoming a cash flow positive.

Subject to regulatory approval, Tanzanian Gold has plans to expand the oxide processing plant to the range of 40 tonnes per hour. Tanzanian Gold will provide details of the plant expansion in near future. The Financing will be held in multiple tranches while the company has made the information about the terms and conditions in its EDGAR filings.

Tanzanian Gold Executive Chairman Mr. James E. Sinclair said, “The past 18 months of work from a talented team at Buckreef and our entire organization represent an incredible period of progress and value creation for our Company. We have dramatically grown our resource base at very low cost, increased the scale and scope of what we now feel will be the next major mine in Tanzania, and have begun to unlock the tremendous blue-sky potential that exists with our continuing exploration and development programs. Critically, we have now become a gold producer.”

Dominic Thiem Defends Novak Djokovic After Controversial Adria Tour

World Number 3, Dominic Thiem has spoken in favor of Novak Djokovic and said that all the criticism of Djokovic for the controversial Adria Tour was unfair.

A number of stars, including World Number 1, Novack Djokovic tested positive for Coronavirus competing in the controversial tournament.

Dominic Thiem said, “It was unfair to him because he didn’t break any law and he didn’t force us.”

“He didn’t force any player to come there. He didn’t force any player to interact with the fans.It was our own decision. The whole event was for a very good cause as well,” he added.

“It was obviously a mistake from everybody but it’s a long time ago now really and everybody who got positive there is healthy again, which is a very good sign as well,” he said.

“In reality, we saw happy fans, we saw happy kids and then we kind of forgot to keep the distance, to not take pictures, to not hug the kids and it was a mistake. Everybody regrets it, of course, but I think, at the same time, it’s fine now,” he continued.

“If it’s going to happen, I’m very sure that it’s safe and that I’m also going to play because I guess it’s time that the normal tour is coming back,” Austrian added.

“What I said is that there are guys on the Future Tour who are not living professionally,” he said.

“That’s what I said. And there are guys who don’t deserve the support and I’m never going to change my opinion.”

“There are many, many guys who deserve it and that’s my opinion. But, well, the media back then put it wrong and I hope that I can put it a little bit in the right place now.”

Stern Warning Issued To Fans During The Presentation Of Historic Trophy

The Manager Jurgen Klopp is the happiest man in the world after his team managed to bring the historic trophy to their native land. All the fans of Liverpool wanted to come out on the streets and roads, but they’ve been warned that they should stay at homes during the Trophy’s presentation on Wednesday.

But, fans had ignored the warnings and they gathered outside the stadium at Anfield in which Liverpool defeated the other side to be crowned for English Champion.

Assistant chief constable Natalie Perischine from Merseyside Police, “On this occasion, the best seat in the house is in your living room.”

“There is simply no benefit to going to the ground and we as a city cannot afford for people to gather in large numbers. We are all still in unprecedented times due to the Covid-19 pandemic and the last thing anyone wants is a resurgence of cases in Merseyside, with every life lost a tragedy.” He added.

Jordan Henderson said, “It’s gutting for all of us that our fans are not with us in person, but we can still make this one of the most enjoyable shared experiences we’ve ever had if we want it to be.”

“If anyone reads this column or these words prior to the evening of the match, I cannot say clearly enough it is critically important you stay away from Anfield and enjoy celebrating with us in your own way, at home.”

Jurgen Klopp said, “Again, I promise we will have this party, which everybody deserves, at an appropriate time — pretty much the first possibility we will use to do exactly what everybody deserves,” added Klopp.

“But we can do it only if everybody behaves appropriately. That’s how it is,” Klopp concluded.

Earnings News Alert: Lazydays Holdings (NASDAQ:LAZY)

Lazydays Holdings (NASDAQ:LAZY) stock identified change of 583.87% away from 52-week low price and recently located move of 5.26% off 52-week high price. It has market worth of $76.21M. LAZY stock has been recorded 65.89% away from 50 day moving average and 135.58% away from 200 day moving average. Moving closer, we can see that shares have been trading 29.94% off 20-day moving average.

On July 13, 2020, Lazydays Holdings (NASDAQCM:LAZY) provided preliminary results for the quarter ending June 30, 2020. Given the unique business environment created by the COVID-19 pandemic the Company believes it is helpful to provide preliminary results, including a month-by-month breakout of preliminary key financial measures for the quarter. It is important to note that these results are preliminary, have not been subjected to a quarterly review and should be read in conjunction with the Company’s quarterly report on Form 10-Q for the quarter ending June 30, 2020, which the Company expects to file in early August 2020. Preliminary Revenue for the quarter is $214 million and net income $7 million. Preliminary key metrics by month are provided below, as well as a reconciliation of Adjusted EBITDA, a non-GAAP financial measure, to net income.

April 2020 Preliminary Results

  • RV unit sales decreased 11% to 636 units versus 711 units in April 2019
  • Total Revenue decreased 30% to $41 million compared to $59 million in April 2019
  • Adjusted EBITDA, decreased 88% to $0.5 million versus $3.9 million in April 2019
  • In April, most states were still under shelter in place orders, which the Company believes significantly impacted customer demand.

May 2020 Preliminary Results

  • RV unit sales increased 55% to 1,175 units versus 759 units in May 2019
  • Total Revenue increased 38% to $83 million compared to $60 million in May 2019
  • Adjusted EBITDA increased 98% to $7.0 million versus $3.6 million in May 2019

June 2020 Preliminary Results

  • RV unit sales increased 81% to 1,124 units versus 622 units in June 2019
  • Total Revenue increased 82% to $90 million compared to $50 million in June 2019
  • Adjusted EBITDA increased 212% to $7.6 million versus $2.4 million in June 2019

The Consumer Cyclical sector company, Lazydays Holdings noticed change of 6.43% to $10.6 along volume of 400615 shares in recent session compared to an average volume of 55.88K shares. The stock observed return of 21.98% in 5 days trading activity. The stock was at 41.33% over one month performance. LAZY’s shares are at 345.38% for the quarter and driving a 105.60% return over the course of the past year and is now at 158.54% since this point in 2018.

The average volatility for the week at 11.57% and for month was at 8.63%. There are 9.76M shares outstanding and 8.25M shares are floated in market.

Total Energy Services Inc. Announces the Schedule for financial results of Second Quarter and Conference Call

Total Energy Services Inc. has announced to release the financial results for the quarter ended June 30, 2020 on August 12th, 2020. The company also intends to host a conference call and webcast following the announcement of financial results. Company issue the financial results before the conference call.

Total Energy Services Conference Call will be hosted by the Total Energy’s management including Daniel Halyk, Company’s President and CEO on August 12th, 2020 at 9:00 a.m. (Mountain Time). Shareholders and other interested people will be able to access the call via (800) 319-4610 or (416) 915-3239. Company broadcast conference call in a live webcast which will be accessible on company’s website at www.totalenergy.ca by going through the option “Webcasts”.

The company will also make the archived version available on Total Energy’s website shortly after the live webcast. Interested persons would also be able to access the recording of the conference call until September 12, 2020 via the number (855) 669-9658, and passcode 4849.

Total Energy provides services of drilling contracts, rentals and transportation, well servicing and compression and process equipment and service to oil and natural gas producers operating in North America, Australia and other international markets. It is headquartered in Calgary, Alberta.

Triumph Business Capital Closes the Acquisition of Transport Financial Solutions

Triumph Bancorp, Inc. has closed the acquisition of Transport Financial Solutions (TFS)’s transportation factoring assets by Triumph Business Capital. Triumph Business Capital is an indirect wholly owned subsidiary of the Company. While TFS is a wholly owned subsidiary of Covenant Logistics Group, Inc.

The acquisition transaction was subject to the transfer of the ownership of TFS Factory assets comprising $103.3 million amount of net accounts receivable and assets related to transportation factoring. The assets will be substituted against the cash consideration of $108.4 million and common shares of the Company valued up to $13.9 million. On the acquisition TFS will also earn a contingent cash consideration totaling up to approximately $9.9 million in 12-month period ending July 31, 2021, while both companies also moved into an ongoing referral arrangement.

The acquisition of TFS is in-line with Triumph’s aim of broadening its footprint in transportation industry. While Triumph Business Capital Platform will not only achieve net of operating cost savings but it will add up approximately $0.15 per share to the annual earnings of Triumph. The conversion of the TFS clients onto the Triumph Business Capital platform will be completed by July 31, 2020, subjects to the transaction terms.

Triumph Business Capital founder and chief executive officer, Aaron P. Graft said, “The trust developed through that relationship led to discussions on how Triumph Business Capital could leverage its factoring expertise to serve the TFS customers, while allowing Covenant to focus on its core business.”

TFS senior vice president and general manager Derwin Brendle commented. “This acquisition will enable a fluid and efficient transition for the TFS factoring customers as Covenant exits the factoring businesses and focuses its efforts on its core transportation and logistics services.”

“We are excited to welcome the clients of TFS to Triumph Business Capital,” said Geoff Brenner, chief executive officer of Triumph Business Capital. “We are also excited to welcome industry veteran Derwin Brendle to the Triumph team. He will work closely with our operational teams to ensure a smooth experience as the TFS clients migrate to our proprietary platform. Going forward, Derwin will serve as the vice president of special markets, maintaining key client relationships and identifying opportunities to further grow the Triumph portfolio.”

Parker Ranch Announces a Nearly 50% Increase in Its Annual Distribution

The Trustees of Parker Ranch Foundation have announced that the Trust is increasing nearly 50% increase in its annual distribution. The total value of the annual distribution goes to $3.6 million as compared to the previous year of 2019.

The company has further added that it has made the decision on a multi-year effort by the Trustees and it also provides assistance from the management team for the same.

Chair of Trustees, Tim Johns said, “This has been a coordinated project across the entire organization and incorporating strategic thinking from our leadership and external advisers, including Northern Trust and Callan.  This distribution is meaningful for two other important reasons.  First, the significant increase comes at a time that our local economy needs support.”

“Our Beneficiaries are charitable organizations focused on health care and education, parts of our economy under severe strain given the broad impact of COVID-19.  Second, this distribution brings the cumulative total distributions to slightly more than $40 million since the creation of the Trust in the early 1990s.  Hopefully, Richard Smart would be pleased with our efforts to support our Beneficiaries, if he were alive today to see its positive contribution to our community,” Tim Johns further added.

Chief Executive Officer of Parker Ranch, Dutch Kuyper said, “Our management team has been working hard supporting the Trust in developing an integrated view of our investment portfolio, real assets and various operating business, including the ranching operation.”

“We worked in close collaboration with our investment advisers to evaluate various distribution policies studying a variety of approaches including the models adopted by Yale and Princeton.  We believe our new approach can withstand the test of time in a variety of market conditions while ensuring the purchasing power of the distribution is maintained,” Dutch Kuyper further concluded.

Oracle Announces Q4 2020 Financial Results

Oracle has announced the Q4 2020 full year financial results. The company has reported the total quarterly revenues of $10.4 billion, which is 4% less as compared to the Q4 of the previous year. The Cloud Services revenues of the company were $6.8 billion. The Q4 GAAP operating income was $4.3 billion and the GAAP operating margin was 41%.

The GAAP net income was $3.1 billion and the non-GAAP net income was $3.8 billion. The GAAP earnings per share of the company increased to 4% and reached $3.08, while the non-GAAP earnings were $3.85 per share.

The board of directors of the company declared the quarterly cash dividend of $0.24 per share. The company has further added that the dividend will be paid to the stockholders at the close of business and payment date of July 28, 2020.

Chief Executive Officer of Oracle. Safra Catz said, “In Q4, non-GAAP earnings per share grew 5% in constant currency driven by strong performances in both our cloud infrastructure and cloud applications businesses.”

“Leading the way was our Fusion Cloud ERP Suite that grew 35% in constant currency, and our Fusion Cloud HCM Suite grew 29% in constant currency. Our overall business did remarkably well considering the pandemic, but our results would have been even better except for customers in the hardest-hit industries that we serve such as hospitality, retail, and transportation postponing some of their purchases. Still, for the third year in a row, we delivered double-digit constant currency earnings per share growth in FY20. Safra Catz said.

CTO and Chairman of Oracle, Larry Ellison said, “In Q4, we launched a vastly improved version of our Exadata [email protected] service,” said Oracle Chairman and CTO, Larry Ellison. “Exadata [email protected] now enables our existing on-premise database customers to run the Oracle Autonomous Database in their own datacenter; previously, the Oracle Autonomous Database was only available in Oracle’s Gen2 Public Cloud.”

Daiwa PI Partners Helps Beta Medai To Secure USD 8 Million Funding

Beta Media has said that the company has successfully secured USD 8 Million funding with the help of the leading Japanese Investment Fund, Daiwa Di Partners. The recent funding helps to reach the enterprise valuation of the company up to VND 1,000 Billion.

The company has previously received funding from the Vietnam Investment Group in 2015 and USD 2.5 Million from Blue HK Financial Group (Hong Kong).

Beta Media operates the low-cost movie theater chain named Beta Cinemas and it includes 60 cinema halls and 12 Cineplexes nationwide. The company has got top of the line cinema halls, but with affordable ticket prices.

Senior Managing Director, Mr. Kenichi Shimomoto said, “Undeterred, Minh Beta and the team have patiently demonstrated to us their impressive business results in the past, a potential future of the film industry in Vietnam, as well as Beta Media’s determination and perseverance in promoting this important industry in the long term.”

“Currently, all cinemas of Beta Media have resumed operation, and the investment deal has been completed, so we do believe that our journey to the bright future has already restarted. We are very excited and look forward to enjoying this great journey with the Beta team and our fellow investors, VIG and Blue HK,” Mr. Kenichi Shimomoto concluded.

Chief Executive Officer Bui Quang Minh said, “This investment will equip Beta Media with more resources to grow further in the near future. Beta Media is expected to reach 50 locations in the next few years.”

“With the mission of bringing an affordable cinema experience to all Vietnamese people in all regions of the country, Beta Media will continue to promote the franchise business model in the coming years,” Mr. Bui Quang Minh further added in the statement.