Month: April 2020

Sandy Spring Bancorp Reports Earnings For The First Quarter Of 2020

Written by Customer Service on April 23, 2020. Posted in Earnings Releases And Operating Results.

OLNEY, Md., April 23, 2020 (GLOBE NEWSWIRE) — Sandy Spring Bancorp, Inc., (Nasdaq-SASR), the parent company of Sandy Spring Bank, today reported net income for the first quarter of 2020 of $10.0 million ($0.28 per diluted share) compared to net income of $30.3 million ($0.85 per diluted share) for the first quarter of 2019 and net income of $28.5 million ($0.80 per diluted share) for the fourth quarter of 2019. Earnings for the current quarter were negatively impacted by a provision for credit losses of $24.5 million. Although the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) would permit the Company to delay the adoption of the accounting standard for current expected credit losses (CECL), the Company has elected to adopt CECL as planned, effective January 1, 2020. The provision for credit losses was significantly...

Hershey Reports First-Quarter 2020 Financial Results

Written by Customer Service on April 23, 2020. Posted in Earnings Releases And Operating Results.

HERSHEY, Pa., April 23, 2020 (GLOBE NEWSWIRE) — The Hershey Company (NYSE: HSY) today announced net sales and earnings for the first quarter ended March 29, 2020.“We had a solid start to the year with our business performing as expected prior to the impact of COVID-19,” said Michele Buck, The Hershey Company President and Chief Executive Officer. “Our best wishes go out to those being affected by this pandemic, and our heartfelt thanks to those working tirelessly to help us persevere through it. At Hershey, we have an opportunity to help ensure a steady food supply and create some economic stability for our employees and the farmers, suppliers and partners that rely on us. We take great pride and passion in our ability to make moments of goodness during this time when physical connection is limited. The team has demonstrated...

Pool Corporation Provides Business Update and Reports First Quarter Results

Written by Customer Service on April 23, 2020. Posted in Earnings Releases And Operating Results.

HighlightsRecord net sales for Q1 2020 resulting in both overall and base business sales growth of 13%Q1 2020 diluted EPS of $0.75 compared to $0.80 last year, or excluding tax benefits and non-cash impairments, $0.71 this year compared to $0.59 last yearPOOLCORP sells essential products and has been continuously open in most markets with no major supply chain disruptions anticipatedStrong liquidity with a 1.49 leverage ratio and $552.4 million available under our revolving credit facilityUpdates 2020 earnings guidance to $5.30 – $5.90 per diluted share or $5.45 – $6.05, excluding non-cash impairments, from $6.47 – $6.77 per diluted share previously______________________COVINGTON, La., April 23, 2020 (GLOBE NEWSWIRE) — “As we move from the end of the tumultuous first quarter and into the second, it is an appropriate...

Capital City Bank Group, Inc. Reports First Quarter 2020 Results

Written by Customer Service on April 23, 2020. Posted in Earnings Releases And Operating Results.

TALLAHASSEE, Fla., April 23, 2020 (GLOBE NEWSWIRE) — Capital City Bank Group, Inc. (NASDAQ: CCBG) today reported net income of $4.3 million, or $0.25 per diluted share for the first quarter of 2020 compared to net income of $8.6 million, or $0.51 per diluted share for the fourth quarter of 2019, and $6.4 million, or $0.38 per diluted share for the first quarter of 2019. Net income for the first quarter of 2020 included a $5.0 million provision for credit losses, which exceeded net loan charge-offs of $1.1 million. The higher provision reflected a build in reserves due to deteriorating economic conditions related to COVID-19. HIGHLIGHTSDiversified revenue and strong balance sheet buffered impact of COVID-19 and Fed interest rate actionsAverage loans (ex-held for sale) up 0.8% sequentially and 4.2% over 2019Loan loss provision of...

Indiva Reports Preliminary First Quarter Fiscal 2020 Results and Announces Updated Filing Timeline For Q4 Fiscal 2019 Due To COVID-19

Written by Customer Service on April 23, 2020. Posted in Earnings Releases And Operating Results.

Bhang® Chocolate continues to lead Ontario edibles categoryLONDON, Ontario, April 23, 2020 (GLOBE NEWSWIRE) — Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF) is pleased to announce preliminary financial and operating results for the first quarter ending March 31, 2020.“The first quarter of 2020 saw a marked increase in the Company’s sales as a result of receiving our edibles sales licence and beginning to distribute Bhang® Chocolate in Canada,” Niel Marotta, Indiva’s President and Chief Executive Officer, said. “With top-selling edibles, near-national reach and a growing portfolio of proven, trusted brands, we believe this quarter’s preliminary results show that Indiva is on the right track to deliver, not just for consumers, but for our shareholders as well. We look forward to sharing more comprehensive results...

Reliance Steel & Aluminum Co. Reports First Quarter 2020 Financial Results

Written by Customer Service on April 23, 2020. Posted in Earnings Releases And Operating Results.

Strong gross profit margin of 30.3%; non-GAAP gross profit margin of 31.9%EPS of $0.92, non-GAAP EPS of $2.45Includes pretax impairment and restructuring charge of $137.5 million, or $1.53 per diluted shareGenerated cash flow from operations of $170.8 million, an increase of 45.7% year-over-yearRepurchased $300.0 million of Reliance common stockMaintains quarterly dividend of $0.625 per shareLOS ANGELES, April 23, 2020 (GLOBE NEWSWIRE) — Reliance Steel & Aluminum Co. (NYSE: RS) today reported its financial results for the first quarter ended March 31, 2020 (in millions, except tons which are in thousands and per share amounts).Management Commentary“We had a strong start to the year following several financial performance records in 2019,” said Jim Hoffman, President and Chief Executive Officer of Reliance. “Overall demand levels...

Kerr Mines Plans First Phase of 2020 Drilling Program at Copperstone

Written by Customer Service on April 23, 2020. Posted in Public Companies.

TORONTO, April 23, 2020 (GLOBE NEWSWIRE) — Kerr Mines Inc. (TSX: KER, OTC: KERMF), (“Kerr” or the “Company”) is pleased to announce its plans for the first phase of its 2020 resource and reserve expansion program which will consist of an initial 5,000 meters and up to 44 holes of both core and reverse circulation drilling at the Copperstone Mine located in Arizona, USA. Based on a very successful 2019 drilling program, this success driven drilling program is comprised of two phases, the first of which totaling 5,000 meters is nearing completion of planning and is targeted to commence in Q2-2020. The total the 2020 resource and reserve expansion drilling program will consist of up to 10,000 meters.The 2020 drilling program, a continuation of the Company’s 2019 resource expansion program, will remain focussed on expansion, by way...

Centogene Reports Financial Results For Full Year 2019 and Highlights Recent Progress

Written by Customer Service on April 23, 2020. Posted in Public Companies.

CAMBRIDGE, Mass. and ROSTOCK, Germany and BERLIN, April 23, 2020 (GLOBE NEWSWIRE) — Centogene N.V. (Nasdaq: CNTG), a commercial-stage company focused on rare diseases that transforms real-world clinical and genetic data into actionable information for patients, physicians and pharmaceutical companies, announced today a corporate update and reported its financial results for the year ended December 31, 2019.€48.8 million in revenues, 21% increase compared to the year ended December 31, 2018, with approximately 51% growth in revenues in the fourth quarter ended December 31, 2019 as compared to the fourth quarter ended December 31, 201828 new pharmaceutical collaborations and 76 total active/completed collaborations as of December 31, 2019 with 39 pharmaceutical partners covering over 45 rare diseasesOver 133,000 order requests received...

TELA Bio Announces Changes to its Board of Directors

Written by Customer Service on April 23, 2020. Posted in Public Companies.

MALVERN, Pa., April 23, 2020 (GLOBE NEWSWIRE) — TELA Bio, Inc. (“TELA Bio”) (Nasdaq: TELA), a commercial stage medical technology company focused on designing, developing and marketing a new category of tissue reinforcement materials to address unmet needs in soft tissue reconstruction, today announced that it has appointed Doug Evans, the President and Chief Executive Officer of Lungpacer Medical Inc., and Lisa Colleran, a principal of LNC Advisors, LLC, to its board of directors effective April 20, 2020.As part of this announcement, Doug Evans will also assume the Chairman of the Board of Directors role from Kurt Azabarzin, who will continue to serve as an independent board member. Furthermore, current board members Ashley Friedman, Matt Zuga, and Ron Ellis will be stepping down. Following these changes, TELA Bio’s...

LSI Industries Reports Fiscal Third Quarter 2020 Results and Declares Quarterly Cash Dividend

Written by Customer Service on April 23, 2020. Posted in Public Companies.

CINCINNATI, April 23, 2020 (GLOBE NEWSWIRE) — LSI Industries Inc. (NASDAQ: LYTS, or the “Company”) a leading U.S. based manufacturer of indoor/outdoor lighting and graphics solutions, today announced results for the fiscal third quarter 2020.Third Quarter 2020 HighlightsSales of $71.0 million reflects shift to higher margin sales mixEPS of $0.07 versus ($0.12) prior yearNet Income $1.9 million compared to Net Loss of ($3.2) million last year EBITDA $4.7 million versus $0.3 million prior yearFree Cash Flow of $3.5 millionNet Debt reduced to $7.1 million, decrease of $35.0 million from prior yearReceived cash proceeds of $7.6 million from facility saleLSI generated improved profitability on modestly lower sales during the fiscal third quarter, given an increased focus on a higher-value sales mix, together with targeted, structural...

Month: April 2020

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