Month: September 2024

Adjusted Pre-Tax Loss Better than Expected Net Cash Provided by Operating Activities Up $16.5 Million Guidance for Fiscal Years 2025 and 2026 Affirmed Laura Kowalchik Appointed Chief Financial Officer Over $80 Million in Program AwardsCHICAGO, Sept. 05, 2024 (GLOBE NEWSWIRE) — Methode Electronics, Inc. (NYSE: MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, today announced financial results for the first quarter of fiscal 2025 ended July 27, 2024. Fiscal First Quarter 2025 HighlightsNet sales were $258.5 million Electric and hybrid vehicle applications were 18% of net sales Pre-tax loss was $13.1 million; Adjusted pre-tax loss was $9.1 million Tax expense of $5.2 million primarily due to an increase in valuation allowance for U.S deferred tax...

Revenues of $1.82 billion; 2% organic growth Net income of $81 million; Adjusted EBITDA(1) of $170 million or 9.4% of revenues Diluted earnings per share of $1.58; Adjusted diluted earnings per share(1) of $2.05 Cash flows provided by operating activities of $138 million; free cash flow(1) of $241 million Net bookings of $1.2 billion; book-to-bill ratio of 0.6; trailing twelve months book-to-bill ratio of 1.1 Company increases Adjusted Diluted EPS(1) Fiscal Year 2025 guidance to $8.10 – $8.30 and reaffirms all other Fiscal Year 2025 financial guidanceRESTON, Va., Sept. 05, 2024 (GLOBE NEWSWIRE) — Science Applications International Corporation (Nasdaq: SAIC), a premier Fortune 500® technology integrator driving our nation’s digital transformation across the defense, space, civilian, and intelligence markets, today...

AFM24 combination with atezolizumab: 24 patients treated in the EGFR mutant (EGFRmut) non-small cell lung cancer (NSCLC) cohort; in 17 response-evaluable patients: 1 complete response (CR), 3 partial responses (PRs) and 8 stable diseases (SDs) were reported. Objective response rate (ORR) is 23.5% (4/17) and disease control rate (DCR) is 70.6% (12/17). Median follow-up of > 7 months, 8 of 17 patients continue on treatment. The EGFR wild type (EGFRwt) cohort of treatment refractory NSCLC patients has treated 40 patients; ORR and safety data is expected in Q4 2024 Acimtamig (AFM13) combination with AlloNK® (AB-101): Enrollment for relapsed/refractory (r/r) Hodgkin Lymphoma (HL) patients in cohorts 1 and 2 is completed (n=12); cohort 3 and cohort 4 recruitment on track (10/12 patients). In cohort 1 and 2, an ORR of 83.3% (10/12) and a complete...

HANGZHOU, China, Sept. 05, 2024 (GLOBE NEWSWIRE) — UTStarcom (“UT,” “UTStarcom” or the “Company”) (NASDAQ: UTSI), a global telecommunications infrastructure provider, today reported its unaudited financial results and a business update for the six months ended June 30, 2024 (“the first half”). Business Highlights:Expansion order for the mobile transport network of a Mobile Operator in Europe. In 1H 2024, UTStarcom received a new order for an updated NetRing PTN product that includes certain new features required by the customer to address its network expansion plans. UT also works with the customer on SDN solution integration and testing to enable the customer’s network evolution. Expansion order for the Broadband Core solution in India. Further expansion order for IMS solution deployed with one of our key Indian customers, including...