Month: February 2024

Fourth quarter sales were $174.0 million, flat versus Q4 2022 Net income attributable to DMC was $2.8 million, while total net income was $3.6 million Adjusted net income attributable to DMC* was $5.2 million, or $0.26 per diluted share Adjusted EBITDA attributable to DMC* was $19.6 million, while total adjusted EBITDA, inclusive of non-controlling interest (NCI), was $23.3 million Free-cash flow* was $15.0 million Full-year results include record sales, adjusted EBITDA attributable to DMC, and free-cash flow performanceBROOMFIELD, Colo., Feb. 22, 2024 (GLOBE NEWSWIRE) — DMC Global Inc. (Nasdaq: BOOM) today reported financial results for its fourth quarter ended December 31, 2023. Michael Kuta, president and CEO, said, “The fourth quarter marked the end of a milestone year for DMC. In addition to reporting record sales, adjusted...

FREMONT, Calif., Feb. 22, 2024 (GLOBE NEWSWIRE) — AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor substrates, today reported financial results for the fourth quarter and fiscal year, ended December 31, 2023. Management Qualitative Comments “We believe we are now beginning to see a recovery in our markets,” said Morris Young, chief executive officer. “In Q4, we achieved 18 percent sequential growth in our revenues and a 43 percent sequential improvement in our non-GAAP net income. While the overall demand environment remains somewhat soft, we are seeing increased orders for indium phosphide for both artificial intelligence (AI) and fiber optic applications. Further, the gallium arsenide market, which was the first of our markets to go into a correction, appears to have largely worked through excess...

AUSTIN, Texas, Feb. 22, 2024 (GLOBE NEWSWIRE) — Chuy’s Holdings, Inc. (NASDAQ:CHUY) today announced financial results for the 14 week fourth quarter and the 53 week fiscal year ended December 31, 2023. Highlights for the 14 week fourth quarter ended December 31, 2023, as compared to the 13 week fourth quarter ended December 25, 2022, were as follows:Revenue increased 11.8% to $116.3 million compared to $104.1 million in the fourth quarter of 2022. The extra operating week in fiscal 2023 contributed approximately $8.7 million in revenue. Comparable restaurant sales increased 0.3% as compared to the fourth quarter of 2022 (13 weeks vs. 13 weeks). Net income increased $3.0 million, or 121.2%, to $5.5 million, or $0.31 per diluted share, as compared to $2.5 million, or $0.14 per diluted share, in the fourth quarter of 2022. Adjusted...

SCOTTSDALE, Ariz., Feb. 22, 2024 (GLOBE NEWSWIRE) — TPI Composites, Inc. (Nasdaq: TPIC), today reported financial results for the fourth quarter and full year ended December 31, 2023. “Once again, we demonstrated our ability to navigate a challenging macro environment and finished 2023 with $161 million of unrestricted cash, resulting from a significant improvement in working capital. Throughout the year, we took advantage of the opportunity to strengthen our strategic position ahead of the wind market’s anticipated recovery and improve our liquidity,” said Bill Siwek, President and CEO of TPI Composites. “Our recently announced refinancing of Oaktree’s Series A Preferred Stock holdings provides TPI with approximately $190 million of improved liquidity through the life of the loan, permanently reduced future obligations by up to...

Continued Focus on Expanding Product Portfolio, Market Leadership and Innovation SAN DIEGO, Feb. 22, 2024 (GLOBE NEWSWIRE) — Maravai LifeSciences Holdings, Inc. (Maravai) (NASDAQ: MRVI), a global provider of life science reagents and services to researchers and biotech innovators, today reported financial results for the fourth quarter and full year ended December 31, 2023, together with other business updates. Recent highlights include: Financial:Quarterly revenue of $74.1 million, Net loss of $(110.0) million, following a valuation adjustment to certain deferred tax assets, and Adjusted EBITDA margin of 28%; Annual revenue of $288.9 million, Net loss of $(138.4) million, and Adjusted EBITDA margin of 23%; and Introduced full year 2024 revenue guidance range of $265.0 million to $285.0 million.Product Innovation, Partnerships...

DULUTH, Ga., Feb. 22, 2024 (GLOBE NEWSWIRE) — Fox Factory Holding Corp. (NASDAQ: FOXF) (“FOX” or the “Company”) today reported financial results for the fourth quarter and fiscal year ended December 29, 2023. Fourth Quarter Fiscal 2023 HighlightsAchieved quarterly net sales of $332 million while managing challenging macro and industry headwinds Completed Marucci acquisition; revenue contribution of $17 million Delivered net income of $4 million, earnings per diluted share of $0.10, and adjusted net income of $20 million, adjusted earnings per diluted shares of $0.48 Attained adjusted EBITDA margin of 11.7% due to UAW strike impact, Bike Original Equipment Manufacturers (“OEM”) destocking, and higher interest rates impacting dealers Paid down $15 million on outstanding debtFull Year 2023 HighlightsReturned $25 million to shareholders...

ANDOVER, Mass., Feb. 22, 2024 (GLOBE NEWSWIRE) — Vicor Corporation (NASDAQ: VICR) today reported financial results for the fourth quarter and year ended December 31, 2023. These results will be discussed later today at 5:00 p.m. Eastern Time, during management’s quarterly investor conference call. The details for the call are below. Revenues for the fourth quarter ended December 31, 2023 totaled $92.7 million, a 12.2% decrease from $105.5 million for the corresponding period a year ago, and a 14.1% sequential decrease from $107.8 million in the third quarter of 2023. Gross margin decreased to $47.3 million for the fourth quarter of 2023, compared to $49.1 million for the corresponding period a year ago, and decreased sequentially from $55.9 million for the third quarter of 2023. Gross margin, as a percentage of revenue, increased...

Record-High Revenue and Profit for the Fourth Quarter and Full Year TROY, Mich., Feb. 22, 2024 (GLOBE NEWSWIRE) — Altair (Nasdaq: ALTR), a global leader in computational intelligence, today released its financial results for the fourth quarter and full year ended December 31, 2023. “Altair finished 2023 with a strong fourth quarter, notching record-high revenue and profit for the quarter and full-year,” said James R. Scapa, founder, chairman and chief executive officer of Altair. “We are seeing strong momentum across a number of verticals, where computational intelligence is becoming increasingly important. We are excited about our recent and upcoming product releases and believe that our investments in engineering AI are positioning us as a leader in this important and growing domain.” “Our global team...

SAN FRANCISCO, Feb. 22, 2024 (GLOBE NEWSWIRE) — iRhythm Technologies, Inc. (NASDAQ: IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict, and prevent disease, today reported financial results for the three months and full year ended December 31, 2023. Fourth Quarter 2023 Financial HighlightsGrew fourth quarter 2023 patient registrations in excess of 22% compared to the fourth quarter 2022 Revenue of $132.5 million, a 17.7% increase compared to fourth quarter 2022 Gross margin of 66.0%, a 390 basis point decrease compared to fourth quarter 2022 Net loss of $38.7 million, an $18.5 million increased loss compared to fourth quarter 2022 Adjusted EBITDA of $2.4 million, a $1.3 million improvement compared to fourth quarter 2022 Cash, cash equivalents and marketable securities of $133.8...