Month: May 2020

LAKE FOREST, Ill., May 11, 2020 (GLOBE NEWSWIRE) — Akorn, Inc. (Nasdaq: AKRX), a leading specialty pharmaceutical company, today announced its financial results for the first quarter of 2020.First Quarter 2020 Results and Recent DevelopmentsNet revenue was $205 million, up $39 million, 23% from the prior year quarterNet loss was $257 million, compared to $82 million loss in the prior year quarterAdjusted EBITDA was $59 million, compared to $23 million in the prior year quarterDiscussions with lenders regarding the sale process and Chapter 11 filing are on-goingReceived Establishment Inspection Report (EIR) and Voluntary Action Indicated (VAI) status for February 2020 inspection of Akorn’s Hettlingen, Switzerland manufacturing facilitySummary Financial Results for the Quarter Ended March 31, 2020Akorn’s reported net revenue...

MONACO, May 11, 2020 (GLOBE NEWSWIRE) — Scorpio Bulkers, Inc. (NYSE: SALT) (the “Company”) announced today that Scorpio Services Holding Limited (“SSH”), a related party, has purchased 50,000 common shares of the Company at an average price of $17.15 per share in the open market. The Company currently has 7,247,580 common shares outstanding, of which the Scorpio Group of companies, including SSH owns 1,447,751 or 19.98%.About Scorpio Bulkers Inc.Scorpio Bulkers Inc. is a provider of marine transportation of dry bulk commodities. The Company currently has five vessels held for sale. Upon the completion of the sale of the five vessels, Scorpio Bulkers Inc. will have an operating fleet of 51 vessels consisting of 45 wholly-owned or finance leased drybulk vessels (including 16 Kamsarmax vessels and 29 Ultramax vessels), and six time...

BLUEFIELD, Va., May 11, 2020 (GLOBE NEWSWIRE) — First Community Bankshares, Inc. (NASDAQ: FCBC) (www.firstcommunitybank.com) (the “Company”) today reported its unaudited results of operations and other financial information for the quarter ended March 31, 2020. The Company reported net income of $7.87 million, or $0.44 per diluted common share, for the quarter ended March 31, 2020, which was a decrease of $0.16, or 26.67%, over the same quarter of 2019. Additionally, the Company recently declared a quarterly cash dividend to common shareholders of twenty-five cents ($0.25) per common share.  2020 is the 35th consecutive year of regular dividends to common shareholders.First Quarter 2020 and Current HighlightsPandemic and GeneralThe Company initiated social distancing practices at its branches and corporate offices on March 20, 2020,...

Q1 core adjusted operating income increased 10.5% over Q1 2019 to $135 million; equivalent to $0.23 on a per share basisTransformation program actioned cumulative $146 million of run-rate profit improvement initiatives and delivered $29 million of operating income enhancement in Q1 – both ahead of planQ1 originations of $2.0 billion with contributions from all five geographies drove core assets under management to $17.8 billion at quarter-endElement has committed, undrawn liquidity of over $5.5 billion at March 31, 2020; ready access to U.S. bond, term ABS and syndication markets; and dependable operating cash flowElement withdraws 2020 adjusted EPS guidance and increases allowance for credit losses to $20 million given the uncertainties associated with the economic impact of COVID-19Subsequent to quarter-end, Element sold the assets...

Boston, MA, May 11, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Zoom Telephonics, Inc. (“Zoom”) (OTCQB: ZMTP), a leading creator of cable modems and other Internet access products, today announced that Joe Wytanis has stepped down from the position of CEO. To ensure a smooth transition, Wytanis will act as an advisor to the board. Zoom’s Board of Directors has formed a CEO search committee, led by Zoom Chairman Jeremy Hitchcock. “I am extremely proud of the team’s accomplishments throughout my tenure,” said Wytanis. “As the demand for reliable home connectivity has never been higher, Zoom is on an exciting trajectory. We’ve seen outstanding growth in e-commerce and storefront retail, inspiring Zoom to focus its product development and marketing initiatives. Accordingly, we have decided Zoom needed leadership more specialized...

VANCOUVER, British Columbia, May 11, 2020 (GLOBE NEWSWIRE) — American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCPK: USGDD) (“APM” or the “Company”) is pleased to announce a private placement (the “Private Placement”) of up to 4,000,000 units (the “Units”) at a price of CAD$0.125 per Unit for gross proceeds of up to CAD$500,000. Each Unit will be comprised of one common share (the “Shares”) and one common share purchase warrant (the “Warrants”) with each Warrant entitling the holder to purchase one Share of the Company at a price of $0.20 per Share for a period of 18 months from the date of closing of the Private Placement.All securities issued will be subject to a four month hold period pursuant to securities laws in Canada. Finders fees of 7% cash and 7% finder’s warrants may be payable to qualified parties.The Company intends...

CORAL GABLES, Fla., May 11, 2020 (GLOBE NEWSWIRE) — Amerant Bancorp Inc. (NASDAQ: AMTB and AMTBB) (the “Company” or “Amerant”) today announced a change in the location of the 2020 Annual Meeting of Shareholders. Due to the continuing public health impact of the novel coronavirus (COVID-19) pandemic and to support the health and well-being of our employees, shareholders, and our community, the 2020 Annual Meeting will be held solely by remote communication, in a virtual only format. There will be no physical location for the meeting. The previously announced date and time of the meeting, Wednesday, June 3, 2020 at 8:00 a.m., Eastern Time has not changed. Online access to the meeting will begin at 7:45 a.m., Eastern Time using the following link: http://www.meetingcenter.io/291672896.Please be advised that the Notice of Internet Availability...

HOUSTON, May 11, 2020 (GLOBE NEWSWIRE) — Battalion Oil Corporation (NYSEA: BATL, “Battalion” or the “Company”) today announced its first quarter 2020 results.Average daily net production for the quarter ended March 31, 2020 was 18,791 barrels of oil equivalent per day (“Boepd”), of which oil represented 10,297 barrels of oil per day (“Bopd”), compared to 10,233 Bopd and 11,489 Bopd for the first and fourth quarters of 2019, respectively. The Company earned $47.4 million of total revenue for the first quarter of 2020, of which 88% was from oil sales, excluding the impact of hedge settlements. Excluding the realized gain on crude oil derivative contracts of $5.1 million, the Company realized 98% of NYMEX WTI during the first quarter of 2020.Total operating costs were $18.20 per Boe compared to $25.49 per Boe for the first quarter...

HOUSTON, May 11, 2020 (GLOBE NEWSWIRE) — Greenfields Petroleum Corporation (the “Company” or “Greenfields“) (TSX VENTURE: GNF), a production focused company with operating assets in Azerbaijan, announces that it has mailed a management information circular (the “Circular”) to holders (“Shareholders”) of its common shares (“Shares”) in connection with a special meeting (the “Meeting”) of Shareholders to be held solely by remote communication via webcast on June 3, 2020 at 10:00 a.m. (CST).The Company intends to apply to delist the Shares from the TSX Venture Exchange (“TSXV”) and apply to cease to be a reporting issuer in each province in which it currently reports and to terminate its public reporting obligations (the “Applications”)....

TORONTO, May 11, 2020 (GLOBE NEWSWIRE) — European Residential Real Estate Investment Trust (“ERES” or the “REIT”) (TSX-V: ERE.UN) announced today its results for the three months ended March 31, 2020.FIRST QUARTER 2020 HIGHLIGHTSNOI increased by 224% for the three months ended March 31, 2020 compared to the same period last year, primarily due to contribution from acquisitions during the period, higher monthly rents and reduced property operating costs driven by lower repairs and maintenance costs and lower property management fees on stabilized properties.NOI margin on the total portfolio was 76.0% compared to 73.5% for the same period last year, due to (i) higher monthly rents, (ii) lower R&M costs and (iii) reduced property management fees on stabilized properties.The REIT maintained a high, stable...