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CSTI: TPZ2023 Acquisition Corp. will merge with and into Costar Technologies, Inc. upon which TPZ2023 Acquisition will cease to exist, and Costar will survive the merger and continue as a wholly owned subsidiary of IDIS Co., Ltd. CSTI shareholders will receive $4.90171 for each share of CSTI held.
FINRA deleted symbol.
https://otce.finra.org/otce/dailyList?viewType=Deletions
$CSTI Costar Technologies, Inc. Announces Financial Results For the Second Quarter Ended June 30, 2021
Press Release | 08/12/2021
Costar Technologies, Inc. Announces Financial Results For the Second Quarter Ended June 30, 2021
($ in thousands except per share amounts)
PR Newswire
COPPELL, Texas, Aug. 12, 2021
COPPELL, Texas, Aug. 12, 2021 /PRNewswire/ -- Costar Technologies, Inc. (the "Company") (OTC Markets Group: CSTI) announced today its financial results for the second quarter ended June 30, 2021.
Financial Results for the Quarter Ended June 30, 2021
Revenues of $14,717, a 0.5% increase compared to the second quarter of 2020.
Operating expenses, excluding second quarter 2020 restructuring costs of $635, were down 13.3% to $4,615, compared to $5,321 in the second quarter of 2020.
GAAP net income of $4,862, or $2.94 per diluted share, compared to GAAP net loss of $498, or ($0.31) per diluted share, in the second quarter of 2020.
Adjusted earnings of $371, or $0.22 per diluted share, compared to $508, or $0.32 per diluted share, for the quarter ended June 30, 2020. Adjusted earnings, a non-GAAP measure, is defined below.
Adjusted EBITDA of $783, compared to $650 for the quarter ended June 30, 2020. Adjusted EBITDA, a non-GAAP measure, is defined below.
Scott Switzer, the Company's Interim Chief Executive Officer stated, "The second quarter of 2021 presented a recovering but difficult global business environment. Our revenues rebounded from the first quarter of 2021 and the continued reduction in our operating expenses drove improved profitability. We launched our NDAA compliant cameras with enhanced artificial intelligence and pedestrian detection, expanding our target market and meeting customer needs. The Costar team has continued to show great resilience in a challenging situation. The strength of the team and the progress of our business transformation confirms the direction for the years ahead."
Sarah Ryder, the Company's Chief Financial Officer went on to say, "Our second quarter revenues were consistent with the prior year despite increases in sales quotation activity and order volumes. The global chip shortage and shipping and logistics issues experienced in the second quarter caused delays, pushing several orders to the third and fourth quarters of 2021. We enter the third quarter with a strong sales backlog as we continue to manage supply chain and logistics challenges. Our overall debt position decreased from $19,600 to $13,300 due to improved cash management and full forgiveness of our Payroll Protection Program loan in June 2021. In addition the Company is eligible to receive an Employee Retention Credit for the first three quarters of 2021. This credit results in a significant decrease in our payroll tax obligation, estimated to be approximately $2,550 over the three quarters."
The Company's independent auditors completed their analysis of the Company's financial condition. The Independent Auditor's Report, including financial statements and applicable footnote disclosures, is available on our website at www.costartechnologies.com.
Non-GAAP Financial Measures
The Company defines adjusted earnings, a non-GAAP measure, as net income (loss) excluding stock-based compensation, amortization of acquisition-related intangible assets, restructuring costs, PPP loan forgiveness and accrual of Employee Retention Credit. The Company defines adjusted EBITDA, a non-GAAP measure, as earnings before interest, taxes, depreciation, amortization, stock-based compensation, restructuring costs, PPP loan forgiveness and accrual of Employee Retention Credit. The following tables reconcile the non-GAAP financial measures disclosed in this release to GAAP net income (loss):
Quarter
Ended
6/30/21
Quarter
Ended
6/30/20
Six Months
Ended
6/30/21
Six Months
Ended
6/30/20
Adjusted Earnings
371
508
(110)
664
Less:
Stock-Based Compensation
(31)
(53)
(35)
(85)
Intangible Amortization
(314)
(318)
(628)
(635)
Restructuring Costs
(635)
(635)
PPP Loan Forgiveness
3,060
3,060
Accrual of Employee Retention Credit
1,776
1,776
Net Income (Loss)
4,862
(498)
4,063
(691)
Quarter
Ended
6/30/21
Quarter
Ended
6/30/20
Six Months
Ended
6/30/21
Six Months
Ended
6/30/20
Adjusted EBITDA
783
650
665
1,150
Less:
Interest
(255)
(207)
(500)
(498)
Income Taxes (Benefit)
(57)
178
(67)
243
Depreciation
(100)
(113)
(208)
(231)
Intangible Amortization
(314)
(318)
(628)
(635)
Stock-Based Compensation
(31)
(53)
(35)
(85)
Restructuring Costs
(635)
(635)
PPP Loan Forgiveness
3,060
3,060
Accrual of Employee Retention Credit
1,776
1,776
Net Income (Loss)
4,862
(498)
4,063
(691)
These reconciliations of GAAP to non-GAAP measures should be considered together with the Company's financial statements. These non-GAAP measures are not meant as a substitute for GAAP but are included solely for informational and comparative purposes. The Company's management believes that this information can assist investors in evaluating the Company's operational trends, financial performance, and cash generating capacity. Management believes these non-GAAP measures allow investors to evaluate the Company's financial performance using some of the same measures as management. However, the non-GAAP financial measures should not be regarded as a replacement for (or superior to) corresponding, similarly captioned, GAAP measures.
About Costar Technologies, Inc.
Costar Technologies, Inc. develops, designs, manufactures, and distributes a range of security solution products including surveillance cameras, lenses, digital video recorders and high-speed domes. The Company also develops, designs, and distributes industrial vision products to observe repetitive production and assembly lines, thereby increasing efficiency by detecting faults in the production process. Headquartered in Coppell, Texas, the Company's shares currently trade on the OTC Markets Group under the ticker symbol "CSTI". Costar was ranked as the 40th largest company in a&s magazine's Security 50 for 2020. Security 50 is an annual ranking by the magazine of the world's largest security manufacturers in the areas of video surveillance, access control and intruder alarms, based on sales revenue.
Cautionary Statement Regarding Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the Company's ability to grow revenue and earnings, that are subject to substantial risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including but not limited to risks related to the ability to diversify business across vertical markets, secure new customer wins, and launch new products. You can often identify forward-looking statements by words such as "believe," "may," "estimate," "continue," "anticipate," "intend," "plan," "expect," "predict," "potential," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations, but they involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of the risks and uncertainties.
You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting forward-looking information, except to the extent required by applicable laws.
COSTAR TECHNOLOGIES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(AMOUNTS SHOWN IN THOUSANDS)
June 30 2021
December 31, 2020
(Reviewed)
(Audited)
ASSETS
Current assets
Cash and cash equivalents
$
2
$
480
Accounts receivable, less allowance for doubtful accounts
of $225 and $175, respectively
7,677
8,579
Inventories
12,762
14,225
Prepaid expenses and other current assets
3,952
2,170
Total current assets
24,393
25,454
Non-current assets
Property and equipment, net
325
533
Deferred financing costs, net
20
Intangible assets, net
5,783
6,411
Goodwill
5,574
5,574
Right of use assets, net
1,705
2,185
Other non-current assets
109
149
(661)
Total non-current assets
13,496
14,872
Total assets
$
37,889
$
40,326
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable
$
5,149
$
4,591
Accrued expenses and other current liabilities
4,873
5,141
Line of credit
10,110
13,024
Current maturities of long-term debt, net of unamortized
financing fees
3,199
3,592
Current maturities of lease liabilities
955
1,049
Total current liabilities
24,286
27,397
Long-Term liabilities
Payroll Protection Program loan
3,025
Deferred tax liability
116
116
Non-current maturities of lease liabilities
916
1,340
Total long-term liabilities
1,032
4,481
Total liabilities
25,318
31,878
Stockholders' Equity
Preferred stock
Common stock
3
3
Additional paid-in capital
157,746
157,686
Accumulated deficit
(140,657)
(144,720)
Less common stock held in treasury, at cost
(4,521)
(4,521)
Total stockholders' equity
12,571
8,448
Total liabilities and stockholders' equity
$
37,889
$
40,326
COSTAR TECHNOLOGIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(AMOUNTS SHOWN IN THOUSANDS, EXCEPT NET INCOME PER SHARE)
Three Months Ended June 30,
Six Months Ended June 30,
2021
2020
2021
2020
(Reviewed)
(Reviewed)
(Reviewed)
(Reviewed)
Net revenues
$
14,717
$
14,640
$
25,499
$
31,668
Cost of revenues
9,728
9,154
16,690
19,532
Gross profit
4,989
5,486
8,809
12,136
Selling, general and administrative
expenses
3,764
4,198
7,365
9,383
Engineering and development expense
851
1,123
1,618
2,555
Restructuring costs
635
635
4,615
5,956
8,983
12,573
Income (loss) from operations
374
(470)
(174)
(437)
Other expenses
Interest expense
(255)
(207)
(500)
(498)
Other income, net
4,800
1
4,804
1
Total other income (expenses), net
4,545
(206)
4,304
(497)
Income (loss) before taxes
4,919
(676)
4,130
(934)
Income tax provision (benefit)
57
(178)
67
(243)
Net income (loss)
$
4,862
$
(498)
$
4,063
$
(691)
Net income (loss) per share:
Basic
$
2.94
$
(0.31)
$
2.47
$
(0.43)
Diluted
$
2.94
$
(0.31)
$
2.46
$
(0.43)
Weighted average shares outstanding:
Basic
1,652
1,597
1,648
1,593
Diluted
1,655
1,597
1,650
1,593
Cision View original content:https://www.prnewswire.com/news-releases/costar-technologies-inc-announces-financial-results-for-the-second-quarter-ended-june-30-2021-301354823.html
$CSTI Costar Technologies, Inc. Announces Financial Results For the Fourth Quarter and Year Ended December 31, 2020
Press Release | 03/29/2021
Costar Technologies, Inc. Announces Financial Results For the Fourth Quarter and Year Ended December 31, 2020
($ in thousands except per share amounts)
PR Newswire
COPPELL, Texas, March 29, 2021
COPPELL, Texas, March 29, 2021 /PRNewswire/ -- Costar Technologies, Inc. (the "Company") (OTC Markets Group: CSTI) announced today its financial results for the fourth quarter and year ended December 31, 2020.
Financial Results for the Quarter Ended December 31, 2020
Revenues of $12,972, a 23.4% decrease compared to the fourth quarter of 2019.
Operating expenses were down 31.2% to $4,368, compared to $6,348 in the fourth quarter of 2019. The $6,348 of operating expenses in the fourth quarter of 2019 excludes $498 relating to the change in earnout fair.
GAAP net income of $12 or $0.01 per diluted share, compared to GAAP net loss of $1,467, or ($0.94) per diluted share, in the fourth quarter of 2019.
Adjusted earnings of ($156), or ($0.09) per diluted share, compared to ($531), or ($0.34) per diluted share, for the quarter ended December 31, 2019. Adjusted earnings, a non-GAAP measure, is defined below.
Adjusted EBITDA of $140, compared to ($286) for the quarter ended December 31, 2019. Adjusted EBITDA, a non-GAAP measure, is defined below.
Financial Results for the Year Ended December 31, 2020
Revenues of $60,367, a 13.2% decrease compared to the prior year.
Operating expenses, net of a goodwill impairment loss of $939 and restructuring costs of $635, were down 19.4% to $21,368, compared to $28,117 in 2019. The $28,117 of operating expenses in 2019 excludes $498 relating to the change in earnout fair.
GAAP net loss of $8,971, or ($5.59) per diluted share, compared to a GAAP net loss of $2,698, or ($1.72) per diluted share, in 2019.
Adjusted earnings of $880, or $0.55 per diluted share, compared to ($494), or ($0.32) per diluted share, for the year ended December 31, 2019. Adjusted earnings, a non-GAAP measure, is defined below.
Adjusted EBITDA of $2,264, compared to $617 for the year ended December 31, 2019. Adjusted EBITDA, a non-GAAP measure, is defined below.
Scott Switzer, the Company's Interim Chief Executive Officer stated, "In 2020 Costar Technologies faced the many challenges of COVID-19 and the associated impact to the business. The Costar team responded, developed and executed a restructuring plan to right size the business while not losing sight of new product development and the needs of our customers. We expanded our product portfolio to include a new line of NDAA compliant cameras and solutions. As we look to 2021, we are seeing evidence of increased activity in key markets as many of our customers return to full operations and resume projects that were placed on hold with the global pandemic."
Sarah Ryder, the Company's Chief Financial Officer went on to say, "The unification of our departments through our One Costar initiative drove efficiencies in many areas of the business, allowing us to generate positive income in the fourth quarter of 2020. The result of the unification also drove company-wide efficiencies which led to a large reduction in operational expenses. I am encouraged with how well the organization has adopted the One Costar Initiative and continue to be optimistic with the recent increase we are seeing in sales activity."
The Company's independent auditors completed their analysis of the Company's financial condition. The Independent Auditor's Report, including financial statements and applicable footnote disclosures, is available on our website at www.costartechnologies.com.
Non-GAAP Financial Measures
The Company defines adjusted earnings, a non-GAAP measure, as net income (loss) excluding stock-based compensation and amortization of acquisition-related intangible assets. The Company defines adjusted EBITDA, a non-GAAP measure, as earnings before interest, taxes, depreciation, amortization and stock-based compensation. The following tables reconcile the non-GAAP financial measures disclosed in this release to GAAP net income (loss):
Quarter
Ended
12/31/20
Quarter
Ended
12/31/2019
Year Ended
12/31/20
Year Ended
12/31/19
Adjusted Earnings
(156)
(531)
880
(494)
Less:
Stock-Based Compensation
(73)
(115)
(185)
(412)
Intangible Amortization
(319)
(323)
(1,272)
(1,294)
Contingent Consideration Fair Value Adjustment
(498)
(498)
Restructuring Costs
(635)
Impairment Loss
(939)
Revaluation of Deferred Tax Asset
(4,614)
Modification to Inventory Reserve Policy
560
(2,206)
Net Income (Loss)
12
(1,467)
(8,971)
(2,698)
Quarter
Ended
12/31/20
Quarter
Ended
12/31/2019
Year Ended
12/31/20
Year Ended
12/31/19
Adjusted EBITDA
140
(286)
2,264
617
Less:
Interest
(213)
(314)
(916)
(1,320)
Income Taxes (Benefit)
29
187
(4,624)
661
Depreciation
(112)
(118)
(458)
(452)
Intangible Amortization
(319)
(323)
(1,272)
(1,294)
Stock-Based Compensation
(73)
(115)
(185)
(412)
Contingent Consideration Fair Value Adjustment
(498)
(498)
Restructuring Costs
(635)
Impairment Loss
(939)
Modification to Inventory Reserve Policy
560
(2,206)
Net Income (Loss)
12
(1,467)
(8,971)
(2,698)
These reconciliations of GAAP to non-GAAP measures should be considered together with the Company's financial statements. These non-GAAP measures are not meant as a substitute for GAAP, but are included solely for informational and comparative purposes. The Company's management believes that this information can assist investors in evaluating the Company's operational trends, financial performance, and cash generating capacity. Management believes these non-GAAP measures allow investors to evaluate the Company's financial performance using some of the same measures as management. However, the non-GAAP financial measures should not be regarded as a replacement for (or superior to) corresponding, similarly captioned, GAAP measures.
About Costar Technologies, Inc.
Costar Technologies, Inc. develops, designs, manufactures and distributes a range of security solution products including surveillance cameras, lenses, digital video recorders and high-speed domes. The Company also develops, designs and distributes industrial vision products to observe repetitive production and assembly lines, thereby increasing efficiency by detecting faults in the production process. Headquartered in Coppell, Texas, the Company's shares currently trade on the OTC Markets Group under the ticker symbol "CSTI". Costar was ranked as the 40th largest company in a&s magazine's Security 50 for 2020. Security 50 is an annual ranking by the magazine of the world's largest security manufacturers in the areas of video surveillance, access control and intruder alarms, based on sales revenue.
Cautionary Statement Regarding Forward Looking Statements
This press release contains forward-looking statements, including statements regarding the Company's ability to grow revenue and earnings, that are subject to substantial risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including but not limited to risks related to the ability to diversify business across vertical markets, secure new customer wins, and launch new products. You can often identify forward-looking statements by words such as "believe," "may," "estimate," "continue," "anticipate," "intend," "plan," "expect," "predict," "potential," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations, but they involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of the risks and uncertainties.
You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting forward-looking information, except to the extent required by applicable laws.
COSTAR TECHNOLOGIES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(AMOUNTS SHOWN IN THOUSANDS)
December 31, 2020
December 31, 2019
ASSETS
Current assets
Cash and cash equivalents
$
480
$
1
Accounts receivable, less allowance for doubtful accounts
of $175 and $396, respectively
8,579
9,056
Inventories
14,225
20,196
Prepaid expenses and other current assets
2,170
2,295
Total current assets
25,454
31,548
Non-current assets
Property and equipment, net
533
910
Deferred financing costs, net
20
59
Deferred tax asset, net
4,514
Intangible assets, net
6,411
7,683
Goodwill
5,574
6,513
Right of use assets, net
2,185
3,131
Other non-current assets
149
149
Total non-current assets
14,872
22,959
Total assets
$
40,326
$
54,507
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable
$
4,591
$
5,639
Accrued expenses and other current liabilities
5,141
5,879
Line of credit
13,024
15,953
Current maturities of long-term debt, net of unamortized
financing fees
3,592
781
Contingent purchase price
1,490
Current maturities of notes payable, unrelated party
583
Current maturities of lease liabilities
1,049
990
Total current liabilities
27,397
31,315
Long-Term liabilities
Long-term debt, net of current maturities and
unamortized financing fees
3,592
Payroll Protection Program loan
3,025
Deferred tax liability
116
Non-current maturities of lease liabilities
1,340
2,389
Total long-term liabilities
4,481
5,981
Total liabilities
31,878
37,296
Stockholders' Equity
Preferred stock
Common stock
3
3
Additional paid-in capital
157,686
157,478
Accumulated deficit
(144,720)
(135,749)
Less common stock held in treasury, at cost
(4,521)
(4,521)
Total stockholders' equity
8,448
17,211
Total liabilities and stockholders' equity
$
40,326
$
54,507
COSTAR TECHNOLOGIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(AMOUNTS SHOWN IN THOUSANDS, EXCEPT NET INCOME PER SHARE)
For the Three Months Ended December 31,
For the Years Ended December 31,
2020
2019
2020
2019
Net revenues
$
12,972
$
16,938
$
60,367
$
69,526
Cost of revenues
8,408
11,433
40,857
42,960
Gross profit
4,564
5,505
19,510
26,566
Selling, general and administrative expenses
3,587
5,037
17,035
22,395
Engineering and development expense
781
1,311
4,333
5,722
Restructuring costs
635
Impairment loss
939
Change in fair value of contingent
purchase price
498
498
4,368
6,846
22,942
28,615
Income (Loss) from operations
196
(1,341)
(3,432)
(2,049)
Other expenses
Interest expense
(213)
(314)
(916)
(1,320)
Other income, net
1
1
10
Total other expenses, net
(213)
(313)
(915)
(1,310)
Income (Loss) before taxes
(17)
(1,654)
(4,347)
(3,359)
Current income tax (benefit) expense
(6)
597
(6)
123
Deferred income tax expense (benefit)
(23)
(784)
4,630
(784)
Net Income (Loss)
$
12
$
(1,467)
$
(8,971)
$
(2,698)
Net income (loss) per share:
Basic
$
0.01
$
(0.94)
$
(5.60)
$
(1.72)
Diluted
$
0.01
$
(0.94)
$
(5.60)
$
(1.72)
Weighted average shares outstanding:
Basic
1,625
1,568
1,603
1,568
Diluted
1,645
1,568
1,603
1,568
Cision View original content:http://www.prnewswire.com/news-releases/costar-technologies-inc-announces-financial-results-for-the-fourth-quarter-and-year-ended-december-31-2020-301258032.html
SOURCE Costar Technologies, Inc.
$CSTI Costar Technologies, Inc. Announces Date of 2020 Annual Meeting of Stockholders
Press Release | 09/17/2020
Costar Technologies, Inc. Announces Date of 2020 Annual Meeting of Stockholders
PR Newswire
COPPELL, Texas, Sept. 17, 2020
COPPELL, Texas, Sept. 17, 2020 /PRNewswire/ -- Costar Technologies, Inc. (the "Company") (OTC Markets Group: CSTI) announced today that the Company's 2020 Annual Meeting of Stockholders will be held on October 29, 2020 at 10:00 a.m. local time at its corporate headquarters located at 101 Wrangler Drive, Suite 201, Coppell, Texas 75019. The Company also announced that it has set the close of business on September 16, 2020 as the record date for determining the stockholders entitled to receive notice of and vote at the annual meeting.
The Company anticipates mailing its proxy statement to stockholders on or around September 25, 2020, which will include a description of the matters to be considered at the annual meeting. Stockholders may also obtain a copy of the 2020 proxy statement when it is available, as well as other information concerning the Company, at www.costartechnologies.com.
About Costar Technologies, Inc.
Costar Technologies, Inc. develops, designs, manufactures and distributes a range of security solution products including surveillance cameras, lenses, digital video recorders and high-speed domes. The Company also develops, designs and distributes industrial vision products to observe repetitive production and assembly lines, thereby increasing efficiency by detecting faults in the production process. Headquartered in Coppell, Texas, the Company's shares currently trade on the OTC Markets Group under the ticker symbol "CSTI". Costar was ranked as the 35th largest company in a&s magazine's Security 50 for 2019. Security 50 is an annual ranking by the magazine of the world's largest security manufacturers in the areas of video surveillance, access control and intruder alarms, based on sales revenue.
Cautionary Statement Regarding Forward Looking Statements
This press release may contain forward-looking statements, including statements regarding the Company's ability to grow revenue and earnings, that are subject to substantial risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including but not limited to risks related to the ability to diversify business across vertical markets, secure new customer wins, and launch new products. You can often identify forward-looking statements by words such as "believe," "may," "estimate," "continue," "anticipate," "intend," "plan," "expect," "predict," "potential," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations but they involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of the risks and uncertainties.
You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting forward-looking information, except to the extent required by applicable laws.
Cision View original content:http://www.prnewswire.com/news-releases/costar-technologies-inc-announces-date-of-2020-annual-meeting-of-stockholders-301133659.html
SOURCE Costar Technologies, Inc.
Motorola to buy Avigilon for approx. 3 X ttm revenues or
approx. $970 million U.S.
CohuHD Costar Awarded US$2.4 Million Surveillance Video Camera Contract for Major Critical Infrastructure Project in Saudi Arabia
Dec 05, 2017
OTC Disclosure & News Service
-
CohuHD Costar Awarded US$2.4 Million Surveillance Video Camera Contract for Major Critical Infrastructure Project in Saudi Arabia
RISE 4290HD expands the reach of CohuHD Costar products into long-range, day/night applications for 24/7 critical infrastructure monitoring
PR Newswire
COPPELL, Texas, Dec. 5, 2017
COPPELL, Texas, Dec. 5, 2017 /PRNewswire/ -- CohuHD Costar, a Costar Technologies, Inc. company (OTC Markets Group: CSTI) announced today that it has been awarded a $2.4 million video surveillance camera contract for a major critical infrastructure project in Saudi Arabia. With the recent introduction of the RISE 4290HD series, CohuHD Costar expands the reach of its RISE series platform into long-range, day/night, thermal video surveillance applications. Working with one of the leading security solutions providers and systems integrators in the Middle East, the RISE 4290HD will provide 24/7 video surveillance for a major critical infrastructure project in Saudi Arabia. This large-scale deployment of RISE 4290HD cameras marks another important milestone for the RISE platform that requires the cameras to operate under extreme environmental conditions and at long distances.
"We're seeing increased demand for rugged cameras that can provide long-range video 24/7 in a variety of environmental conditions. The RISE 4290HD does this, and does it at a price point we believe makes it very attractive for applications such as critical infrastructure and intelligent traffic systems. We expect this project to be the first of many major security monitoring projects for the 4290HD around the world," stated Doug Means, Senior VP and GM of CohuHD Costar.
The RISE 4290HD Series dual-spectrum positioning system is the latest addition to CohuHD Costar's RISE family of products and has been awarded the 2017 GSN Airport, Seaport, Border Security Award for Best Long-Range/High-Res Camera by Government Security News. The RISE 4290HD Series combines crystal clear HD visible spectrum imaging along with standard resolution LWIR thermal night vision imaging.
The RISE 4290HD is designed to operate in harsh weather with its purged and pressurized IP67 enclosure protection to eliminate the effects of water intrusion, pollutants and corrosives. The ultra-rugged design of all CohuHD RISE products allows the company to offer a lifetime warranty against water ingress.
About Costar Technologies, Inc.
Costar Technologies, Inc. develops, designs, manufactures and distributes a range of security solution products including surveillance cameras, lenses, digital video recorders and high-speed domes. The Company also develops, designs and distributes industrial vision products to observe repetitive production and assembly lines, thereby increasing efficiency by detecting faults in the production process. Headquartered in Coppell, Texas, the Company's shares currently trade on the OTC Markets Group under the ticker symbol "CSTI". Costar was ranked 41 in a&s magazine's Security 50 for 2016. Security 50 is an annual ranking of the world's largest security manufacturers in the areas of video surveillance, access control and intruder alarms, based on financial performance.
Cautionary Statement Regarding Forward Looking Statements
This press release contains forward-looking statements, including but not limited to statements related to the demand for our products and future projects, that are subject to substantial risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. You can identify forward-looking statements by words such as "believe," "may," "estimate," "continue," "anticipate," "intend," "plan," "expect," "predict," "potential," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations but they involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of the risks and uncertainties.
You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update forward-looking statements to reflect actual results, changes in assumptions, or changes in other factors affecting forward-looking information, except to the extent required by applicable laws.
View original content:http://www.prnewswire.com/news-releases/cohuhd-costar-awarded-us24-million-surveillance-video-camera-contract-for-major-critical-infrastructure-project-in-saudi-arabia-300567289.html
SOURCE Costar Technologies, Inc.
Copyright © 2017 PR Newswire. All Rights Reserved
Nice run today. Good earnings coming out? Buyout? Big contract?
T
Very impressive. And the business should only get better in future.
T
ASMAG ranks Costar Technologies as 10th largest public U.S.
Security company for 2016.
Great day after very encouraging report. Normally weak quarter produces .20. Nice. And the low float is a beautiful thing on a day like today.
T
Apollo to buy ADT for $6.9 billion
or approx. 2X ADT 2015 revenues
Flir just bought DVTEL for $92 million or
approx. 2X DVTEL's 2015 revenues.
Company stock currently trades at LESS THAN the 10 million
in cash they used to buy COHU HD last June.
$CSTI recent news/filings
bearish 5.50
## source: finance.yahoo.com
Fri, 13 Nov 2015 03:30:00 GMT ~ Costar Technologies, Inc. Announces Financial Results For the Third Quarter Ended September 30, 2015
[PR Newswire] - COPPELL, Texas, Nov. 12, 2015 /PRNewswire/ -- Costar Technologies, Inc. (the "Company") (OTC Markets Group: CSTI), announced its unaudited financial results for the quarter ended September 30, 2015 that have been reviewed by the independent accounting firm RSM US LLP, formerly McGladrey LLP. CohuHD revenue decreased 24% while the Company's network security products increased 22%. GAAP net income of $68, or $0.04 per share based on 1,525 weighted average diluted shares outstanding.
read full: http://finance.yahoo.com/news/costar-technologies-inc-announces-financial-033000909.html
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Thu, 12 Nov 2015 23:26:11 GMT ~ Costar Technologies, Inc. Announces Financial Results for the Third Quarter Ended September 30, 2015
[at noodls] - e5614c2c-4d55-434d-981f-b0f0bef68eaf.pdf FOR IMMEDIATE RELEASE CONTACT: Scott Switzer November 12, 2015 Chief Financial Officer Costar Technologies, Inc. (469) 635-6800 Costar Technologies, Inc. Announces ...
read full: http://www.noodls.com/view/9F9B4BEBE81723AA3F2E06DB56CE4BE78AE4B0AE
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Fri, 30 Oct 2015 15:48:08 GMT ~ 10/14/15 Costar Technologies, Inc. Announces Date of 2015 Annual Meeting of Stockholders
[at noodls] - Microsoft Word - CSTI Press Release 2015 Annual Meeting v4 FOR IMMEDIATE RELEASE CONTACT: Scott Switzer October 14, 2015 Chief Financial Officer Costar Technologies, Inc. (469) 635-6800 Costar Technologies ...
read full: http://www.noodls.com/view/8B0D845A6EADA1D71DDF91D6433209BCFC0815BC
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Thu, 15 Oct 2015 02:30:00 GMT ~ Costar Technologies Announces Date of 2015 Annual Meeting of Stockholders
[PR Newswire] - COPPELL, Texas, Oct. 14, 2015 /PRNewswire/ -- Costar Technologies, Inc. (the "Company") (OTC Markets Group: CSTI) announced today that the Company's 2015 Annual Meeting of Stockholders will be held on November 17, 2015 at 10:00 a.m. local time at the offices of McGladrey, LLP located at 1185 Avenue of the Americas, New York, NY 10036. The Company also announced that it set the close of business on October 13, 2015 as the record date for determining the stockholders entitled to receive notice of and vote at the annual meeting. The Company anticipates mailing its proxy statement to stockholders in October 2015, which will include a description of the matters to be considered at the annual meeting. Stockholders may also obtain a copy of the 2015 proxy statement when it is available as well as other information concerning the Company at www.costartechnologies.com.
read full: http://finance.yahoo.com/news/costar-technologies-announces-date-2015-023000241.html
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Sat, 05 Sep 2015 17:04:06 GMT ~ COSTAR TECHNOLOGIES, INC. Financials
read full: http://finance.yahoo.com/q/is?s=csti
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$CSTI charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$CSTI company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/CSTI/company-info
Ticker: $CSTI
OTC Market Place: OTC Pink Limited
CIK code: 0001053676
Company name: Costar Technologies, Inc.
Incorporated In: DE, USA
$CSTI share structure
## source: otcmarkets.com
Market Value: $13,196,331 a/o Nov 12, 2015
Shares Outstanding: 1,466,259 a/o Jul 31, 2015
Float: Not Available
Authorized Shares: Not Available
Par Value: Not Available
$CSTI extra dd links
Company name: Costar Technologies, Inc.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=CSTI+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=CSTI+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=CSTI+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/CSTI/news - http://finance.yahoo.com/q/h?s=CSTI+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/CSTI/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/CSTI/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=CSTI+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/CSTI
DTCC (dtcc.com): http://search2.dtcc.com/?q=Costar+Technologies%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Costar+Technologies%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Costar+Technologies%2C+Inc.&x=0&y=0
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/CSTI
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001053676&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/CSTI/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/CSTI/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=CSTI&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=CSTI
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/CSTI/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=CSTI+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=CSTI+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=CSTI
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=CSTI
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=CSTI+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/CSTI/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=CSTI+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/CSTI.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=CSTI
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/CSTI/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/CSTI/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/CSTI
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/CSTI
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/CSTI:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=CSTI
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=CSTI
$CSTI DD Notes ~ http://www.ddnotesmaker.com/CSTI
Another P&D by Geoinvesting and Quoth the Raven... Watching flip-flopper Geoinvesting for hit piece soon.
Scam stock of the yr award. Lmao read the fins....
http://www.otcmarkets.com/financialReportViewer?symbol=CSTI&id=128299
LoL yeah really why would anybody want to be in an investment trading at an all-time high as I type?
Yeah, what a garbage idea. LoL LoL LoL ROFL!!!!
I didn't write those articles. CSTI earns money and has an audited financials. It went up because of that.
I know, real difficult to understand. Besides, CSTI is the worst pick of my 5 so far so I'm not sure the articles did much good.
It also helps when people write SA pump articles for each of the stocks you own.
LoL only people who are interested in winning contest pick CSTI I guess. ;)
http://microcapclub.com/contest/
LoL why would anyone invest in this garbage they're not even current or fully reporting.
Costar: Further Market Research Confirms Growth Potential
http://seekingalpha.com/article/2292635-costar-further-market-research-confirms-growth-potential
CSTI -- Costar Technologies Has 150% Upside
http://seekingalpha.com/article/2281863-costar-technologies-has-150-percent-upside
Costar Technologies, Inc. Announces Financial Results for the First Quarter Ended March 31, 2014
Net income +80%
http://finance.yahoo.com/news/costar-technologies-inc-announces-financial-030000034.html
Costar Technologies Continues To Offer Significant Upside
http://seekingalpha.com/article/2148043-costar-technologies-continues-to-offer-significant-upside
Costar Technologies, Inc. Announces Financial Results for the Fourth Quarter and Year Ended December 31, 2013
Highlights for the Year Ended December 31, 2013 vs December 31, 2012
Net income increased by 222%, to $1,907, from $592, the third consecutive profitable year.
Revenue increased 35%, to $26,476, from $19,581.
Earnings per share were $1.31 (shown in whole amounts) compared to $0.41 per share.
The Company increased its cash position to $1,637 from $114, and owed $0 on its line of credit.
Financial Results, Fourth Quarter of 2013 as Compared to Fourth Quarter of 2012
Revenue for the fourth quarter of 2013 totaled $4,331, as compared to revenue of $4,220 for the fourth quarter of the prior year, an increase of approximately 3%. The increase was primarily due to the continuation in remodel activity and new store openings by several of the Company's customers.
Gross profit for the fourth quarter of 2013 totaled $923. This compares to gross profit of $1,215 for the fourth quarter of 2012, a decrease of 24%. The Company experienced a one-time write-down of cost of goods sold of $551 related to the prepayment of inventory. The supplier in question is experiencing serious financial difficulty and there is substantial doubt regarding the receipt of the ordered product or the return of the prepaid funds. The Company is exploring its options with respect to this vendor and has qualified a new vendor to provide a substitute product.
Selling, general and administrative expenses for the fourth quarter of 2013 totaled $1,163. This compares to selling, general and administrative expenses of $1,285 for the fourth quarter of 2012, a decrease of 9%. The decrease of $122 was primarily due to a reduction of incentive based compensation and a decline in bank fees.
Net (loss) income for the fourth quarter of 2013 was approximately $(177), or $(0.12) earnings per share. This compares to net (loss) for the fourth quarter of 2012 of $(59), or $(0.04) earnings per share.
Financial Results, Year Ended December 31, 2013 Compared to Year Ended December 31, 2012
Revenue for the year ended December 31, 2013 totaled $26,476, an increase of 35% as compared to revenue of $19,581 for the same period last year. The increase was primarily due to a surge in remodel activity and new store openings by several of the Company's customers.
Gross profit for the year ended December 31, 2013 totaled $7,467. This compares to gross profit of $5,673 for the year ended December 31, 2012. The rise is due to a more favorable overall sales and product mix, including increased interest in the Company's higher margin network product line.
Selling, general and administrative expenses for the year ended December 31, 2013 totaled $5,598. This compares to selling, general and administrative expenses of $4,987 for the year ended December 31, 2012, an increase of 12%. The increase of $611 was primarily due to the hiring of four sales and support employees in the latter half of 2012 to stimulate future growth, along with increased commissions and other incentive compensation related to the Company's improved performance.
Net income for the year ended December 31, 2013 was approximately $1,907, or $1.31 earnings per share, as compared to net income of $592, or $0.41 earnings per share for the year ended December 31, 2012.
James Pritchett, President and Chief Executive Officer of the Company, stated, "The Company's performance in 2013 generated record profits, positively positioning the Company for future opportunities. One of our largest retail customers significantly increased their remodel program in 2013, making up for a limited number of remodels in the prior two years due to a weak economy. We are pursuing additional revenue opportunities in 2014 to offset the temporary increase in sales caused by this "catch up" period, which we estimate increased 2013 revenue by approximately $3,000 to $4,000. We are encouraged by our results and are dedicated to delivering on our commitment of strong earnings and averaged double digit sales growth over a multiyear span."
Huck, you are right. I have no position in this, but I have always thought that companies that file to go dark are telling shareholders to FO. I had seen this several times on my stock screener to look at, but, I just can't get past the fact that they went dark. Good luck here, I do hope it works out well for everyone.
They might be saving money but it looks pretty bush league.
Cuz I bought some last week at $10.50.
oops wrong report
Anybody know why the recent drop in CSTI?
I think most of these tiny companies don't get their quarterlies audited. Probably just a way to save money.
Anyone have any insight into the 16% drop over past month? I don't seen any news corresponding to it.
Agreed, I'm holding both - though I don't see much in a merger either. Different target markets really.
ARGL is definitely interesting. Coming out of the dark, people still not paying attention - but I think it's definitely undervalued at PE under 2.
I took a closer look at ARGL and I don't see alot of cross compatibility with CSTI that would make sense for a merger. They are very different companies. ARGL does look interesting though.
Thanks
Why the unaudited financials- pie in the sky balance sheet or the company simply can't afford an audit???
Perhaps but I don't think so.
A CSTI/ARGL merger seems like it could be mutually beneficial.
I think CSTI could potentially be a good candidate for a buyout.
First, the CEO grew another similar company, Ultrack and then sold it to Honeywell. .
Second, The CEO is getting close to retirement. According to the company, they have a CEO Succession plan in place but they will not discuss the details.
Third, from what I can tell, their product line up, business model and their lean operating structure would make an attractive proposition for an acquisition.
I could be completely wrong, and the company looks like it will be successful if they continue to do what they have been doing, but I have seen a number of similar companies get gobbled up..
Thanks for sharing your opinion, Frank.
I think for a well managed company like CSTI which is growing very fast and a low PE it is difficult to lose money. It should do really well. Same with PFHO.
The only question mark over CSI I have is that this year has had blowout earnings because their two largest customers loaded up on cameras and may not do so next year. I have no real insight into this either way however.
CSTI to $50+ IMO
But I may sell some or all at any time. Too Fin bad.
Frank-what are your thoughts about CSTI at this point as you have asked some excellent questions about it (and PFHO)along the way?
Last year's 10K was reported on 23APR.
Do you figure earnings date similar to PFHO at the end of March/beginning of April?
That's a good point you make with the TASR example, Steveadl, and one that is well taken.
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