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New CEO and CFO
Float 545.360
Stocks outstanding 2.44 mln.
Yahoo finance.
Impressive 1 year chart.
Looking forward to the next qtr.
New CFO
Algorand will be a major sponsor!
Signed a massive contract with FIFA
FIFA 22 crypto coin taking off
MASK-MUSK-TWITTER?
Trending!!
Digital Turbine Announces Strategic Partnership with Google
Source: PR Newswire (US)
AUSTIN, Texas, Dec. 28, 2021 /PRNewswire/ -- Digital Turbine, Inc. (Nasdaq: APPS), a leading independent mobile growth & monetization platform, today announced a multi-year strategic partnership with Google that accelerates Digital Turbine's product and growth strategy to support the Android ecosystem by enabling nearly a billion devices with intelligent app discovery. Digital Turbine will work with Google Cloud premier partner SADA to implement Google's enterprise and cloud solutions to rapidly enhance and expand globally while broadening growth and monetization solutions for its partners.
"We are excited to partner with Digital Turbine to support the expansion and scale of its products and services globally," said Rob Enslin, President of Google Cloud. "Digital Turbine has been a longtime supporter of the Android ecosystem, and with this new partnership, it will utilize our advanced cloud and enterprise infrastructure to expand support of its value-added mobile experiences to end users around the globe."
"For the past 10 years Digital Turbine has helped expand the Android ecosystem with our intelligent app discovery, growth and monetization products supporting many of the leading Android app developers in the market today," said Bill Stone, CEO of Digital Turbine. "We are thrilled to further deepen and expand our partnership with Google. By partnering with Google we are efficiently powering app discovery for nearly a billion Android devices globally while simultaneously expanding our footprint across the Android ecosystem including mobile, TV and connected devices."
Circulating supply low. Could be explosive!
Metaverse Tokens Are Soaring on Facebook’s Rebrand News
Marketcap still low.
Look at this volume.....
$ 2,43
Trending now!!
$87,12 Earnings report data coming close, tic toc.
A higher stock price for APPS now comparing to TTD. Next step: a higher market cap?
APPS is the owner of FYBER.
FYBER N.V. (FRA:FBEN ) Fyber N.V.: upgrades FY2021 guidance based on above-budget preliminary financials for Q1 2021
Directive transparence : information réglementée
21/04/2021 19:49
DGAP-Ad-hoc: Fyber N.V. / Key word(s): Change in Forecast/Quarterly / Interim Statement
Fyber N.V.: upgrades FY2021 guidance based on above-budget preliminary financials for Q1 2021
21-Apr-2021 / 19:49 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Berlin, 21 April 2021 - Fyber N.V. ("Fyber" or the "Company", FSE:FBEN) is announcing preliminary financials for the first three months of 2021, confirming the preliminary financials for January and February 2021 provided in an ad hoc notification on 17 March 2021, and an upgraded guidance for the full year 2021.
In Q1 2021, the Company generated revenue in excess of €85 million (a plus of 179% compared to the same time last year), net revenue* of €17 million (a plus of almost 90% year-over-year) and an adjusted EBITDA* of more than €7 million (Q1 2020: €-0.8 million). These preliminary revenue results are based on preliminary and unaudited financials and are about 50% above the initial planning for the year 2021.
The Company therefore increases its guidance for the full year 2021, now expecting a revenue between €300 million and €350 million, with a net revenue between €60 million and €70 million, at an adjusted EBITDA between €15 million and €20 million (previous guidance: revenue between €275 million and €300 million, net revenue between €55 million and €60 million, adjusted EBITDA of €10 million).
The impact on the Company's business of new privacy regulations by Apple to be released on the new operating system iOS14 is uncertain as of today. Further details will be provided with the release of the Annual Report 2020.
*Adjusted EBITDA and net revenue are defined on page 15 and 16 of the Q3 2020 Results Statement available on the Company's website at https://investors.fyber.com/reports-presentations.
Notifying person
Yaron Zaltsman, CFO
TRANSVAC2 funds a Collaboration between
European and US/Canadian SMEs
on a unique, single-shot SARS-CoV-2 vaccine
LiteVax BV (Oss, the Netherlands), ImmunoPrecise Antibodies (Oss, the Netherlands and Victoria,
Canada) and IRTA (Barcelona, Spain) decided to combine their respective expertise in the field of
immunoadjuvants, antigen design and vaccination evaluation, to develop an effective and safe SARSCoV-2 vaccine for the globe. Feasibility of single-shot approach will be evaluated in large, nonrodent
species by measuring neutralizing antibody responses and immunological memory. Based on results with
similar experimental vaccines, expectations are high. The project is sponsored by TRANSVAC2, a network
of leading European groups working in the field of vaccine R&D and funded by the European Commission
(EC grant agreement N° 730964).
ImmunoPrecise Antibodies exploits it’s PolyTopeTM monoclonal antibody platform for the treatment of
patients against SARS-CoV-2 infection. The platform is of particular interest to identify and optimize
neutralizing epitopes and to design promising antigen candidates. A selection of unique, rationaldesigned subunits will be investigated. LiteVax exploits a novel class of synthetic carbohydrate
derivatives as vaccine adjuvant and preclinical data demonstrate that high responses and strong
immunological memory are obtained already after a first vaccination. As service provider in this
collaboration, IRTA (Barcelona) has all relevant expertise, know-how and facilities to conduct vaccination
studies in large animal species including SARS-CoV-2 vaccines.
With the many COVID19-vaccine initiatives in advanced stage of development, opportunities for new
candidates are controlled activation and modulation of the immune system; high and persistent
immunity, strong memory and no immune-enhanced disease are key. Provided that results are
promising, the project will be a first stepping stone towards clinical development and commercialization
of the concept. Funding by TRANSVAC2/EU acts as a catalyst to crossing boundaries and building an
inspiring collaboration between parties with complementary technologies. By this transatlantic
collaboration we hope to contribute to the idea that global problems should be solved together.
Digital Turbine Fiscal 2021 Third Quarter Results
February 3, 2021
Page 2
“Our strong third quarter results represented an acceleration of the breakout momentum achieved in the first half of the fiscal year,” said Bill Stone, CEO. “We once again set all-time quarterly records for revenue, profitability and free cash flow. Total revenue grew 146% year-over-year, as we saw strong demand for both our Application Media and Content Media service offerings. The amount of time and money spent by consumers within applications continues to rise, as consumers increasingly grow accustomed to consuming more content and spending greater share of their wallets using the applications on their mobile devices. Businesses everywhere have reacted accordingly by placing increased emphasis on the functionality and monetization potential of their application-based storefronts. These powerful secular tailwinds have been driving, and we believe will continue to drive, significantly greater demand for our unique platform offerings.”
“I was once again exceptionally pleased with the bottom-line profitability showcased by our platform business model during the quarter. Higher gross margins and expanding operating leverage enabled us to turn our 146% annual revenue growth into more than 300% annual growth in Non-GAAP adjusted EBITDA, 278% growth in Non-GAAP EPS, and more than 200% growth in Non-GAAP free cash flow, as we continue to benefit from network effects and economies of scale.”
Mr. Stone concluded, “We believe that we are still in the early stages of our growth story at Digital Turbine, as we continue to employ our core diversification strategy in an effort to more fully leverage our global distribution footprint with both existing and newly-developed products and services. Partners and advertisers across the platform are deriving clear monetary and strategic value from a wide range of our services that work cohesively to provide end consumers with highly-relevant information, entertainment and e-commerce options at their fingertips. We remain particularly excited about the potential to expand the reach of our Content Media services, and we are likewise optimistic about the potential growth in some of our other high-growth initiatives, such as Single-Tap. We look forward to providing updates on our progress related to these and other growth initiatives in the quarters to come.”
BlackRock owner of 7.1% of stocks of APPS. Institutionals showing strong confidence.
5G-top company. My biggest holding for now. Long term hold.
Last day trading on the Otc, tomorrow Nasdaq. New all time high coming?
JULI 13, 2020 - 5:40 AM PDT
Meritage Reports Second Quarter 2020 Results; Strong Earnings Growth
GRAND RAPIDS, Mich., July 13, 2020 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (OTCQX: MHGU), the nation’s premier franchise operator, today reported financial results for the second quarter ended June 28, 2020.
Second Quarter Highlights
Sales increased 2.6% to $121.7 million compared to $118.7 million for the same period last year.
Earnings from Operations increased 68.2% to a record $10.7 million compared to $6.4 million for the same period last year.
Net Earnings increased 61.8% to a record $6.1 million compared to $3.8 million for the same period last year.
Consolidated EBITDA (a non-GAAP measure) increased 26.9% to a record $16.0 million compared to $12.6 million for the same period last year.
“We are very proud of our restaurant management teams who did a superb job of executing at the Wendy’s drive-thru level, while dining rooms remained closed during most of the quarter due to the pandemic. Such robust earnings growth would not have been possible without our employee’s relentless efforts to stay healthy and guests being comfortable with system-wide protective measures. Earnings growth was positively impacted by the new Wendy’s breakfast segment that launched in early March and has continued to outperform internal targets. We successfully opened six Wendy’s restaurants and one new Morning Belle restaurant during the first half of the year. Looking ahead, our operations plan is to remain focused on employee and customer safety, while prudently re-opening dining rooms.
“The Wendy’s brand has once again demonstrated high resilience during stressful economic times as speed, convenience and affordability become even more important to consumers,” stated Robert E. Schermer, Jr., the Company’s CEO.
Six-Month Highlights
Sales for the six months increased 4.86% to $239.5 million compared to sales of $228.4 million for the same period last year.
Earnings from Operations were $10.5 million compared to $11.8 million for the same period last year.
Net Earnings were $2.4 million compared to $7.8 million for the same period last year.
Consolidated EBITDA (a non-GAAP measure) was $20.4 million compared to $25.0 million.
The Company has committed significant long term capital resources to the Wendy’s brand initiatives, including an agreement to build 40 new Wendy’s restaurants by the end of 2024 under the Groundbreaking Incentive Program. Sales in newly built and re-imaged restaurants continue to deliver strong results as guests reward us for upgraded facilities and improved overall customer experience.
Company 2021 Full-Year Outlook: Robust Growth Ahead
Continued growth in 2021 is expected to be driven by new restaurant development, breakfast, reimaging and acquisitions. The Company’s goal is to continue rewarding shareholders with dividend growth commensurate with earnings growth, as we navigate our way to a new industry normal.
In less than 24 hours, the app is already number 84 in entertainment, just 4 spots behind DisneyNOW.
https://insiderfinancial.com/whats-happening-with-gnus-stock/180199/
GNUS STOCK HUGE GROWTH POTENTIAL
What many traders and investors missed on GNUS stock was the update the company put out in April. In this update, the company forecast:
For 2019, we expect $9.6 million in gross revenue, given that licensed products will begin to come to market in the second half of the year with many more being introduced in 2020.
For 2020, we expect $50 million in gross revenue.
For 2021, we expect $247 million in gross revenue.
All Time High today!!!
Meritage Reports First Quarter 2020 Results
Press Release | 05/12/2020
GRAND RAPIDS, Mich., May 12, 2020 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (OTCQX: MHGU), one of the nation’s premier restaurant operators, today reported financial results for the first quarter ended March 29, 2020.
First Quarter Highlights
Sales increased 7.3% to $117.8 million compared to $109.8 million for the same period last year.
Loss from Operations was $0.2 million compared to Income from Operations of $5.4 million for the same period last year.
Net Loss was $3.7 million compared to Net Income of $4.1 million for the same period last year. (The change in earnings includes a negative year over year non-cash GAAP change of $1.0 million resulting from the Company’s interest rate swap agreements, which are measured at fair value based on mark-to-market.)
Consolidated EBITDA (a non-GAAP measure) was $4.5 million compared to $12.5 million for the same period last year. (Last year included a $3.6 million real estate gain)
The Company owned 335 restaurants compared to 318 for the same period last year.
“The first quarter for the Company’s restaurant business was a tale of two extremes. Early in the quarter, we hired 1,400 additional team members across our Wendy’s restaurant system, preparing for the national breakfast roll-out. We experienced record same store sales growth from breakfast, which continues to perform well in the social distancing environment. The pandemic arrived mid-March, with Government ordered closure of restaurant dining rooms and state shelter-in-place mandates. We closed 335 dining rooms, including 8 restaurants entirely, on a temporary basis,” stated Robert E. Schermer, Jr.
In response, the Company enacted many proactive measures to combat the negative near-term financial impact caused by the COVID-19 mandates, including but not limited to; suspended all non-essential cap-ex and new restaurant development, suspended dividends, requested landlord rent relief and interest only loan payments for 90 days. On April 6, 2020, the Company was approved for loans through its various subsidiary entities under the CARES Act Payroll Protection Program. As a result of shifting rules, unclear guidance and stabilized restaurant sales, the Company chose not to accept loans or participate in the Program but elected to participate in other tax benefits provided for under the CARES Act.
The Company’s path to full operations will consist of a phased approach taking numerous elements into consideration such as consumer and employee safety, business readiness, state and local guidance, and the new “normalized” safety protocols among QSR, family dining and other retail peers within the communities that it serves.
Looking Forward: Recovery & Rehiring
Our Wendy’s weekly sales continue to improve, as many states and communities we serve move toward re-opening. The Company is planning to hire restaurant employees once the closure mandates are lifted and normal dining room occupancy is restored. We believe the quick service restaurant segment and the Company have distinct advantages in a future recovery.
As in past times of economic stress, speed, convenience and affordability have been favorable differentiators in quick service restaurant operations.
Wendy’s restaurants are built for off premise sales, with restaurant drive-thru windows at each location.
The Wendy’s system is expanding digital and delivery options for additional off-premise sales.
Lower gas prices increase consumer disposable income and decrease supply delivery costs.
Meritage continues to distinguish itself as a leader and innovator in the quick service restaurant segment, striving for best in class results through a culture committed to safety, operational excellence and continued growth.
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Q1 2020 sales growth was driven by record same store sales associated with the introduction of the Wendy’s breakfast, which continues to perform well.
APRIL 16, 2020 - 5:56 AM PDT
Meritage Announces New Annual Meeting Date; Update on COVID-19 Impact and Looking Ahead
GRAND RAPIDS, Mich., April 16, 2020 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (OTCQX: MHGU), one of the nation’s premier restaurant operators, today announced the Annual Meeting of Shareholders originally scheduled for May 19th will be postponed due to COVID-19 safety and health concerns. The Annual Meeting of Shareholders will now be held at 8:30 am EST on June 25, 2020. Accordingly, the record date for determining shareholders to vote has been postponed to April 30, 2020. Other information about the Annual Meeting will be included in proxy materials which we expect to mail to shareholders on or about May 21, 2020.
Actions Taken in Response to COVID-19
The Company has taken significant proactive measures to ensure it remains strong, resilient and well-positioned to support employees, guests and other stakeholders through the COVID-19 crisis. The following is a list of select actions:
Reinforced our strict food safety procedures, personal hygiene standards, handwashing requirements and sanitation protocols across all restaurants;
Suspended all non-essential capital expenditures;
Suspended new restaurant development, with the exception of six new restaurants already near completion;
Benefitted from extended payment terms for royalties and marketing funds offered by Wendy’s over the next 90 days;
Negotiated near-term landlord rent relief;
Requested interest-only loan payment terms from syndicate lenders for a period of 90 days;
Suspended all stock dividends for 90 days or until business normalizes, whichever is earlier.
Approved by the SBA for a $29.1 M loan through the Coronavirus Aid, Relief and Economic Security (CARES) Act under the Paycheck Protection Program (PPP).
“Our geographical footprint and drive-thru operations have allowed us to continue serving the changing needs of guests as people adapt to local government orders. We are grateful to our employees, delivery drivers and supply-chain operators for continuing to deliver essential restaurant food items,” stated CEO, Robert E. Schermer.
Company Business Performance
329 of our Wendy’s restaurants remain open for drive-thru and delivery service across 16 states of operations.
Beginning mid-March, COVID-19 related dining room closures negatively impacted our Wendy’s sales by approximately 20% to 25%.
Company sales for Q1 2020 are estimated be 7% over the same period last year.
Q1 2020 sales growth was driven by record same store sales associated with the introduction of the Wendy’s breakfast, which continues to perform well.
The Wendy’s restaurant supply chain is keeping pace with drive-thru and delivery sales demand.
Many of our Wendy’s markets are now hiring additional employees.
We are assessing and participating in relief programs offered by the stimulus CARES Act, many of which apply directly to the restaurant industry.
Looking Ahead: Resilient Business Model
While the restaurant industry is at the epicenter of government mandated closures, we believe the quick service segment and the Company have distinct advantages in the future economic recovery.
Speed, convenience and affordability have been differentiators in quick service restaurant operations in past times of economic stress.
Wendy’s restaurants are built for off premise sales, with approximately 70% of our normal sales generated through the restaurant drive-thru, which remain open and operating.
The Wendy’s system offers digital and delivery options for additional off-premise sales.
Lower gas prices decrease supply delivery costs and increase consumer disposable income.
Low interest rates provide efficient capital for future growth opportunities.
Meritage continues to distinguish itself as a leader and innovator in the quick service restaurant segment, striving for best in class results through a performance-based culture committed to operational excellence, strategic acquisitions and real estate development.
About Meritage
Meritage Hospitality Group is one of the nation’s premier restaurant operators, with 337 restaurants located in Arkansas, Connecticut, Florida, Georgia, Indiana, Massachusetts, Michigan, Missouri, Mississippi, North Carolina, South Carolina, Ohio, Oklahoma, Tennessee, Texas and Virginia. Meritage is headquartered in Grand Rapids, Michigan, operating a workforce of approximately 11,000 employees. The Company has approximately 9.0 million total weighted average fully diluted common shares outstanding. The Company’s current public information is available pursuant to SEC Rule 15c2-11 and FINRA Rule 6432 at www.otcmarkets.com, under the stock symbol MHGU, or the Company’s website www.meritagehospitality.com.
MERITAGE WITHDRAWS OUTLOOK AND POSTPONES ANNUAL MEETING
Press Release | 03/31/2020
GRAND RAPIDS, Mich., March 31, 2020 (GLOBE NEWSWIRE) -- Meritage Hospitality Group, Inc. (OTCQX: MHGU), one of the nation’s premier restaurant operators, today announced the suspension of financial target guidance as well as the postponement of its annual meeting until evidence that the COVID-19 pandemic has subsided and states have lifted the quarantines and shelter-in-place mandates.
In view of the rapidly changing developments regarding COVID-19, and with the health of our shareholders and employees in mind, we are postponing the annual meeting. The Company’s original meeting date was scheduled for May 19, 2020. Once the Board of Director’s approves a new annual meeting date, the Company will announce the new date.
“We are navigating uncharted waters with COVID-19. The Company has taken numerous new measures to protect public health and safeguard our Wendy’s® employees in our restaurants. We continue to operate our Wendy’s restaurants with drive-thru only service and have indefinitely closed our six casual dining restaurants until the individual state mandates are lifted,” stated CEO Robert E. Schermer, Jr.
The introduction of the Wendy’s breakfast featuring the new Breakfast Baconator®, Honey Butter Chicken Biscuit and Frosty®-ccino delivered exceptional consumer response and record sales for the Company prior to the pandemic and system wide temporary closure of restaurant dining rooms.
“We are deeply grateful to all of our business partners affected by this pandemic, including our employees, shareholders, franchisor, lenders, landlords, food distributors and service providers, all working together through this national crisis,” added Schermer.
Meritage continues to distinguish itself as a leader and innovator in the quick service restaurant segment, striving for best in class results through a performance based culture committed to operational excellence, strategic acquisitions and real estate development.
Meritage Hospitality Group is one of the nation’s premier restaurant operators, with 337 restaurants in operation located in Arkansas, Connecticut, Florida, Georgia, Indiana, Massachusetts, Michigan, Missouri, Mississippi, North Carolina, South Carolina, Ohio, Oklahoma, Tennessee, Texas and Virginia. Meritage is headquartered in Grand Rapids, Michigan, operating a workforce of approximately 11,000 employees. The Company has approximately 9.0 million total weighted average fully-diluted common shares outstanding. The Company’s current and publicly available filings can be viewed at www.otcmarkets.com, under the stock symbol MHGU, or the Company’s website www.meritagehospitality.com.
And looking at the reviews on this location, Blessed Bean has the best coffee of the world!
https://www.google.com/maps/place/250+National+Pl+%23162,+Longwood,+FL+32750,+Verenigde+Staten/@28.6879456,-81.3516748,17z/data=!4m5!3m4!1s0x88e7720f8e4d826d:0x6d79a09ff645c4a8!8m2!3d28.6878835!4d-81.3494807
4,7 out of 5 stars
Of course there is a decline in sales in the first and second quarter due to this temporary crises, but i think management can handle this and i'm in here for the long term.
I think this has an effect on the paid dividend too.
The drive-thru is now more important than ever, and i hope that the stores stay open.
When this pandemic is over i think most people are going to spend more money than ever so quarter 3 and 4 should be good.
Premarket: 5,82
NEWS
Astrotech’s BreathTest-1000 Confirmed to Detect Lung Disease Metabolites at Parts Per Billion
AUSTIN, Texas--(BUSINESS WIRE)-- Astrotech Corporation [NASDAQ: ASTC] announced that the BreathTest-1000™ lung disease screening device that is under development detects a known metabolite that is associated with lung diseases at very low parts per billion (ppb) concentrations. On March 25, the Company announced that it is working on developing the BreathTest-1000™ to detect volatile organic compound metabolites present in lung diseases such as the Coronavirus (“COVID-19”) and pneumonia.
“The Company just reached a milestone in its vision of providing what it believes to be a highly accurate field instrument that, subject to applicable regulatory approval, may provide lung disease testing worldwide. Today’s news is exciting because it accelerates the development process of the BreathTest-1000™ and we believe gets us closer to joining the front-line in the fight against lung diseases, such as COVID-19,” stated Thomas B. Pickens III, Chairman and Chief Executive Officer of Astrotech Corporation.
“The Company was able to move quickly in the development of the BreathTest-1000™ because the core mass spectrometry technology it utilizes has been fully commercialized and deployed for explosives trace detection. Our goal is to satisfy all regulatory requirements for the BreathTest-1000™ as rapidly as possible once the necessary application developments are completed. We believe that few, if any, changes will need to be made to the underlying technology. We plan to devote our efforts towards developing a simple and consistent sample introduction system,” Mr. Pickens concluded.
This is a great website from the distributor outwest505:
https://outwest505distributing.com/
and i like this page too:
https://outwest505distributing.com/new-products-coming-soon
Meritage Reports Full-Year 2019 Preliminary Results; 2020 Outlook: Robust Growth Ahead
Mon February 24, 2020 4:30 PM|GlobeNewswire|About: MHGU
GRAND RAPIDS, Mich., Feb. 24, 2020 (GLOBE NEWSWIRE) -- Meritage Hospitality Group Inc. (MHGU), one of the nation’s premier franchise restaurant operator and developer, today reported preliminary financial results for the fiscal year ended December 29, 2019.
2019 Full-Year Highlights:
Sales increased 7.4% to $467.5 million compared to $435.3 million last year.
Earnings from Operations were $21.2 million compared to $25.4 million last year. (The current year included $2.1 million in additional depreciation, a non-cash expense)
Net Earnings were $12.9 million compared to $13.2 million last year. (The change in Net Earnings reflects a negative year over year non-cash GAAP charge of $2.5 million resulting from the Company’s interest rate swap agreements, which are measured at fair value based on mark-to-market).
Consolidated EBITDA (a non-GAAP measure) increased 12.2% to $44.6 million compared to $39.7 million last year.
The Company developed or acquired a net of 20 restaurants during the year, to finish with 337 restaurants in operation across 16 states.
Common stock dividends increased 60% to $0.24 per share compared to $0.15 prior year.
“Our operations and development performance in 2019 represented significant milestones in our 5-Year growth plan, finishing the year strong with 337 restaurants in operation. Despite minor development delays and non-cash impacts to reported net earnings for fiscal 2019, we were pleased with the net results and solid 12.2% EBITDA growth for the year as we developed and renovated a record number of new locations. We continued to transform our restaurant portfolio through the development of new locations and renovation of existing locations, offering both guests and employees more conveniences. Looking ahead to 2020, we are forecasting robust sales growth of approximately $100 million, a transformative year, with the rollout of breakfast in 316 of our Wendy’s locations, new restaurant development, renovations and the continued development of the Morning Belle breakfast/brunch restaurant concept. Operational excellence continues to be our inspiration, leveraging the Company’s best-in-class operating platform and restaurant development expertise, while delivering on the Wendy’s brand promise of quality, convenience, and value,” stated Meritage CEO Robert Schermer, Jr.
Fourth Quarter 2019 Highlights:
Sales increased 12.5% to $121.2 million compared to sales of $107.8 million for the same period last year.
Earnings from Operations were $3.6 million compared to $6.0 million for the same period last year.
Net Income was $2.4 million compared to $2.4 million for the same period last year.
Consolidated EBITDA (a non-GAAP measure) was $9.4 million compared to $10.1 million last year.
Meritage plans to continue its focus on Wendy’s capital investment and brand initiatives in 2020 with up to 18 new-build locations and 24 modernizations across sixteen states of operations.
Company 2020 Full-Year Financial Outlook: Robust Growth Ahead
Sales growth of +20%-25%
Earnings from Operations growth of +20%-25%
Net Earnings growth of +15%-20%
EBITDA growth of +15% to 20%
Dividend growth +17%- 33%
Meritage continues to distinguish itself as a leader and innovator in the QSR and Family Restaurant segments, striving for best in class results through a performance-based and employee-centric culture committed to operational excellence, strategic acquisitions and real estate development.
About Meritage
Meritage Hospitality Group is one of the nation’s premier restaurant operators, currently with 337 restaurants in operation located in Arkansas, Connecticut, Florida, Georgia, Indiana, Massachusetts, Michigan, Missouri, Mississippi, North Carolina, South Carolina, Ohio, Oklahoma, Tennessee, Texas and Virginia. Meritage is headquartered in Grand Rapids, Michigan, operating with a workforce of approximately 11,000 employees. At Fiscal year end the 2019 the Company had, total weighted avg. fully diluted common shares outstanding of 9,033,570 and Fully Diluted EPS of $1.27.
The Company’s current and publically available information as required under SEC Rule 15c2-11 and FINRA Rule 6432 can be found at www.otcmarkets.com, under the stock symbol MHGU, Disclosures or the Company’s website www.meritagehospitality.com.
SAFE HARBOR STATEMENT
Certain information in this new release, particularly information regarding future economic performance and finances, and plans, expectations and objectives of management, constitutes forward-looking statements. Factors set forth in our Safe Harbor Statement, in addition to other possible factors not listed, could affect the Company’s actual results and cause such results to differ materially from those expressed in forward-looking statements. Please review the Company’s Safe Harbor Statement at http://www.meritagehospitality.com.
CONTACT:
Robert E. Schermer, Jr., CEO
Meritage Hospitality Group Inc.
(616) 776-2600
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A growing list of Form 4 and 13G:
https://www.otcmarkets.com/stock/SAVA/disclosure
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