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CSPI...Ended up trimming 50% of my position over the past few days...All long term gains. Will continue holding the rest (for now) for more gains in the future.
CSPI...Thanks hweb...Since I have long term gains in the stock I decided to sell approx 1/4 of my position this week. (little before and a little after earnings).
Moving those profits into ACDC on dips, buying more CXDO in the $1.70's, and reducing margin a bit.
CSPI....CSP Inc. Grows Fiscal First Quarter Revenue 48% from Prior Year First Quarter; Reports EPS of $0.21
Gross Backlog of Approximately $22.9 Million; Board Declares Cash Dividend
LOWELL, MA / ACCESSWIRE / February 8, 2023 / CSP Inc. (NASDAQ:CSPI), an award-winning provider of security and packet capture products, managed IT and professional services and technology solutions, today reported continued business momentum for the fiscal 2023 first quarter ended December 31, 2022. The Company also announced that the Board of Directors declared a quarterly dividend of $0.03 per share payable March 14, 2023, to shareholders of record on the close of business on February 24, 2023.
Fiscal First Quarter Operating Highlights and Recent Achievements
Product revenue grew 63% compared to the prior year first quarter
Services revenue grew 13% compared to the prior year first quarter
EPS of $0.21 increased significantly from a loss of $(0.09) in the prior year first quarter
Increased sales of higher margin products and services lead to gross margin of 31.7% for the quarter, nearly a 2.5 percentage point increase over the prior year first quarter
Gross backlog (backlog) as of December 31, 2022, of $22.9 million
"The continued migration of our business to offer differentiated, higher value cybersecurity, wireless and managed services offerings, is propelling our growth," commented Victor Dellovo, Chief Executive Officer. "We have now reported consecutive quarters of revenue growth in excess of 40% as the demand for our award-winning products and services builds and we are able to execute deliveries and installations. During the first quarter, we converted approximately $3.2 million of backlog to revenue while at the same time added approximately $2.9 million in new orders. We are increasing our business from existing customers while adding new customers and while the timing of potential orders is subject to movement from quarter to quarter, our business pipeline continues to be robust.
"Our Technology Solutions business continued to grow during the first quarter. At the same time, our High-Performance Products business revenue more than doubled compared to the year ago first quarter. This growth was primarily due to a sizeable customer engagement in the 2023 fiscal first quarter, and we are cautiously optimistic the HPP business will be a growing contributor as the fiscal year progresses.
"Our business, and the opportunity pipeline we have in front of us, is stronger today than at any time in our Company's history. Our strategy, combined with our financial resources provides us with the opportunity to provide our customers with attractive financing that contributes to our profitability. These transactions position CSPi to generate increased levels of future cash flow while we enhance our relationship with customers and provide us future growth opportunities."
2023 Fiscal First Quarter Results
Revenue for the fiscal 2023 first quarter was $18.3 million, a 48% increase compared to $12.4 million in the year-ago fiscal first quarter as the Company continued to achieve significantly improved operating results despite the current economic environment and continued supply chain issues with some system component providers. Despite these hurdles, management remains cautiously optimistic that its strategies and initiatives will allow it to meet its operating objectives throughout fiscal 2023.
Gross profit for the fiscal first quarter was $5.8 million, or 31.7% of sales compared with $3.6 million, or 29.2% of sales in the year-ago fiscal first quarter. The gross margin increase continues to reflect the focus on higher margin products and services, however, the disproportionate growth compared to the revenue growth was due to a mix of lower margin product sales in the 2023 fiscal first quarter. The Company reported net income of $1.0 million in the fiscal 2023 first quarter, or $0.21 per diluted common share compared with a net loss of $(0.4) million, or $(0.09) per common share for the fiscal first quarter of fiscal 2022.
The Company had cash and cash equivalents of $19.6 million as of December 31, 2022, which was equivalent to the cash and cash equivalents on December 31, 2021. Cash was approximately $4.4 million lower as compared to the September 30, 2022 level primarily due to a previously-referenced large financing customer sale recognized in the fourth quarter of fiscal year 2022 but the cost was paid for in the first quarter of fiscal year 2023.
Conference Call Details
CSPi Chief Executive Officer Victor Dellovo and Chief Financial Officer Gary W. Levine will host a conference call at 10:00 a.m. (ET) today, February 8, 2023 to review CSPi's financial results and provide a business update. To listen to a live webcast of the call, the event link is https://www.webcaster4.com/Webcast/Page/2912/47591.. Individuals may also listen to the call via telephone, by dialing 888-506-0062 or 973-528-0011 and use the Participant Access Code: 478992 when greeted by the live operator. For interested parties unable to participate in the live call, an archived version of the webcast will be available for approximately one year on CSPi's website.
CXDO... GREAT write-up on Crexendo's CEO Steve Mihaylo...
The Mihaylo Foundation Has Left a Lasting Impact on Local Communities
February 7, 2023
Christopher Schumacher
Steve Mihaylo, CEO of Crexendo®, is a name that carries significant weight. His impact on the telecommunications industry has heavily influenced its current state. Steve has been a valuable asset for his contributions to the telecom industry and for employing thousands of people over the years, but the professional reputation does not define the man. Mr. Mihaylo is also known as someone who gives back.
Earlier in life, he committed time to public service by serving in the United States Army’s 101st Airborne Division and specialized in radio, radar, and telecommunications. After leaving the Army, Steve leveraged his keen interest in telecom and worked in the manufacturing arm of AT&T as a field services engineer. He utilized his background in telecom to start Inter-Tel in 1969, growing the organization to about $500 million in revenue and 2,500 employees before the company was acquired in 2008.
After decades of exemplary work, Mr. Mihaylo and his family shared his vision of giving back to the local communities. Their family success had much to do with hard work and perseverance, but education ultimately afforded them their opportunities. By 2001, with the help of his family, he started a charitable foundation to help those in the community have opportunities to be successful. The Steve Mihaylo & Lois Mihaylo Foundation has granted millions of dollars to programs and initiatives that support children, education, and community services, and it has had a profound impact on those it’s touched.
The Steve Mihaylo & Lois Mihaylo Foundation has been giving back for more than two decades, donating tens of millions of dollars to more than 200 organizations in over 25 states. These consist of nonprofits that focus on education, community support, child development, treatment and rehabilitation services, and faith-based services. Mr. Mihaylo is a firm believer in education and understands the profound impacts it will have on future generations. The Foundation is “dedicated to the long-term learning and success of today’s youth.” He believes that the Foundation can support innovative projects that provide opportunities for the youth through collaborative partnerships. There are six areas the foundation focuses on:
Education
Entrepreneurship
Leadership
Literacy
Technology
Workforce Readiness
Mr. Mihaylo shared his insights into the Foundation and why it’s essential. “I strongly believe that those of us who are successful owe an obligation to give back and provide support to people who need it, not as a handout but as a supportive hand. I want people to be able to access the American dream and reach their own level of success. This is why my family started the Mihaylo Foundation. My daughter, Sarah Mihaylo is the Chairperson of the Foundation and has helped build the Foundation into the great organization it is today! Sarah has made sure that the Foundation can assist people who are facing circumstances where they sometimes cannot survive without a little help.”
Steve also discusses the importance of supporting education, opportunity, and leaving a lasting legacy. “The Foundation supports education, and we support opportunity. I’ve been in tough situations growing up and I am very grateful that I can now return the support I received. As a matter of fact, I continue to work and support because the great bulk of my assets will go to the Mihaylo Foundation. My family supports me in this as they know it’s our obligation. The team at Crexendo® works with me and supports me in this. I am honored that the Foundation’s purpose will continue for a very long time.”
As Mr. Mihaylo pointed out, despite reaching the pinnacle of his career more than once and likely to reach it again, he continues to work tirelessly and ensure that the Foundation remains prosperous in the long term. To safeguard its future, he brought in Doug Gaylor, President & Chief Operating Officer of Crexendo®, and Jeff Korn, Chief Legal Officer of Crexendo® to join the board. Doug and Jeff are vital members who assist with financial decisions and organizational reviews, both areas of expertise for both men.
Here are just a few of the many charities that the Mihaylo Foundation supports:
AZ Christian University
Catholic Charities
McKinley High School in Honolulu
Big Bear High School
Tempe Community Action Agency
Junior Achievement
St. Vincent de Paul
The Goldwater Institute
Boy Scouts & Girl Scouts
Casa de los Niños
PTSD Now
Urban League
Giving back and enriching the local community enables you to influence lasting social change. When organizations receive financial backing and support, a ripple effect occurs and touches many lives for changes that last generations. Philanthropy is viewed as the cornerstone of a stable society – when people come together to help others, we’re reminded what it means to be human. As a result, communities grow stronger, outlasting the individual who provided the opportunities.
Mr. Mihaylo will have a lasting influence on the local communities he’s made an impact in. He’s a prime example of generating great success as an individual, but also giving back and providing opportunities for others to achieve his level of success. He’s touched many lives; whether it’s employing men and women across this country or through his philanthropic actions, he supports causes that matter the most to him, and Steve Mihaylo is a name that will stand the test of time.
https://www.crexendo.com/blog/the-mihaylo-foundation-has-left-a-lasting-impact-on-local-communities/
CSPI...@ $12 w/ earnings scheduled for 2morrow. :)
PCTI...PCTEL Announces its Most Advanced 5G Antenna Platform, VerStack™, for Rail and Industrial IoT Applications
VerStack omnidirectional antenna platform provides reliable, high-performance connectivity for critical applications
BLOOMINGDALE, Ill., February 07, 2023--(BUSINESS WIRE)--PCTEL, Inc. (Nasdaq: PCTI), a leading global provider of wireless technology solutions, today announced its new VerStack antenna platform for smarter rail communications and IIoT applications.
The VerStack platform consists of the most advanced 5G and GNSS vertically stacked antennas in the market. It utilizes PCTEL’s broadband element technology to provide top-of-the-line RF performance in rail and IIoT applications. These antennas have been designed in a rugged UV-resistant fiberglass housing making them ideal for harsh environmental conditions. The VerStack platform is easy to install and offers 3:1 and 5:1 configurations.
Denis Dmitruk, PCTEL’s Technical Product Manager, commented, "Enabling mission critical connectivity is key for our customers in the rail market. The VerStack antenna platform allows secure and reliable communication exchanges between trains and wayside locations resulting in detection and prevention of safety-critical conditions, advance warning to locomotive engineers to take corrective actions, and monitoring and diagnosis necessary for proactive maintenance."
To learn more about the VerStack antenna platform visit https://www.pctel.com/antenna-product/5g-fr1-multiband-base-station-omnidirectional-antenna-with-gnssl125/
About PCTEL
PCTEL is a leading global provider of wireless technology solutions, including purpose-built Industrial IoT devices, antenna systems, and test and measurement products. Trusted by our customers for over 29 years, we solve complex wireless challenges to help organizations stay connected, transform, and grow.
https://finance.yahoo.com/news/pctel-announces-most-advanced-5g-135000324.html
MPTI...Love the low float. Going to hold into earnings and see what happens. My position is somewhat small so worth a crap shoot.
CLMB...LogicGate Announces EMEA Expansion to Meet Growing Demand for Holistic GRC Solutions
9:00am ET 2/1/2023 PR Newswire
LogicGate launches partnership with Climb Channel Solutions, expands presence in EMEA market
LogicGate, a leading provider of transformative risk and compliance solutions through its Risk Cloud(R) platform, today announced an expanded international presence and partnership to help risk leaders across the world transform, connect, and scale their GRC programs. To support its growth, LogicGate launched a new partnership with Climb Channel Solutions, an international specialty technology distributor and wholly-owned subsidiary of Climb Global Solutions, Inc. (NASDAQ: CLMB).
https://mma.prnewswire.com/media/1768211/LogicGate_Logo.jpg
FTK...Here's today's Flotek Investor's Summit presentation...
https://us06web.zoom.us/webinar/register/WN_Rl490tl3TZqwutsD0Ev85Q
Flotek January 2023 Investor Summary - January 2023
https://www.flotekind.com/media/k2/attachments/Investor_Summary_2023-01-25v2.pdf
MPTI...One for the watchlist...Ultra-low share count. Been trading in the mid $9 to low $10 range over the past couple weeks.
MtronPTI (M-tron Industries) designs, manufactures and markets highly-engineered, high reliability frequency and spectrum control products and solutions.
Profitable
Record Backlog
2.7M Shares Outstanding
2M Float
https://finance.yahoo.com/news/m-tron-industries-inc-reports-211500046.html
https://capedge.com/filing/1902314/0001564590-22-037653/MPTI-10Q-2022Q3
https://www.mtronpti.com/
CLMB...News out today....To accelerate its channel plan and better support partners, CYREBRO also announced today a partnership with Climb Channel Solutions to bring the SOC infrastructure solution to their network of value-added resellers. A leading distributor of cybersecurity solutions, Climb provides proven technologies that enhance organizations’ security preparedness, providing high assurance for their IT infrastructure. With CYREBRO as part of its offerings, Climb is adding top-of-the-line cybersecurity protection to ensure fast and efficient responses to cyber threats and their mitigation.
“Partnering with CYREBRO to provide an exceptional real-time SOC solution to resellers in the IT channel is a critical and necessary step Climb needs to fill out our cybersecurity stack,” said Dale Foster, CEO, Climb Channel Solutions. “We are proud to offer a product that is sure to not only quickly and efficiently mitigate cyber threats, but will also provide users a single point of incidents and prioritization through an intuitive cloud user interface.”
https://www.dqchannels.com/soc-infrastructure-provider-cyrebro-launches-channel-program/
FTK...Stock price holding steady after news of management change. This is interesting news as Flotek heads into profitability...
Flotek Announces Leadership Transitions, Marking the Beginning of a New Chapter of Future Growth and Profitability
Director Harsha V. Agadi to Serve as Chief Executive Officer on an Interim Basis, Succeeding John W. Gibson Who Has Transitioned Out of the Role of Chairman, President, and Chief Executive Officer, Effective Immediately
Chief Operating Officer Ryan Ezell Named President
Independent Lead Director David Nierenberg to Become Chairman of the Board
HOUSTON, Jan. 19, 2023 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK), a leader in technology-driven specialty green chemistry solutions, today announced that Director Harsha V. Agadi will become interim Chief Executive Officer of Flotek, effective immediately. He succeeds John W. Gibson, Jr., who has transitioned out of the role of Chairman, President, and Chief Executive Officer to pursue other professional opportunities. In addition, Chief Operating Officer Ryan Ezell has been promoted to President and Independent Lead Director David Nierenberg has been appointed Chairman of the Board. The Board of Directors has commenced a search for the Company's next Chief Executive Officer.
Mr. Agadi said, "Since I joined the Flotek Board in 2020, I have witnessed the Company's growth that has brought us to this pivotal moment. I am excited to take on this role as we work to identify our next leader and look forward to working alongside David, Ryan, and our deeply talented Flotek colleagues to ensure a seamless transition to our next CEO. Flotek's potential is unlimited in this sector, and we are well-positioned to gain market share over the coming years."
Mr. Nierenberg said, "On behalf of the entire Board, I want to thank John for his leadership and his success in engineering a highly successful turnaround of Flotek. Today, Flotek is in a strong position with excellent prospects, as evidenced by our quadrupling of the Company's revenue run rate this year compared to 2021. We now have an opportunity to further scale and bring greater value to our customers, colleagues, and shareholders, and I am confident that we will select the right leader to take the company into the future. We wish John our very best in his future professional endeavors."
Mr. Gibson said, "Flotek has been blessed over the past three years. We survived a pandemic and partnered with an industry leader to emerge as a strong platform for growth. The strength of Flotek today resides in great people, great customers, and great shareholders, committed to providing affordable, greener energy to the world. I appreciate the trust my colleagues and the Board have placed in me. Thank you all for a great three years. The next chapter starts today with my highest priorities being faith and family."
Biographies
Mr. Agadi has held senior executive positions at Fortune 50 companies. He has extensive multi-sector experience, having served as Chief Executive Officer of six companies over the past 25 years, and has deep knowledge of Flotek through his service on the Company's Board of Directors. Prior to his appointment, Mr. Agadi served as chair of the Compensation Committee and has been a member of the Board during the Company's successful turnaround over the past several years.
Most recently, Mr. Agadi served as Chief Executive Officer and Board Member of Crawford and Co, the largest publicly traded insurance claims company, where he led the company's transformation. Prior to that, he served as Chief Executive Officer of Friendly's Ice Cream Corporation and Church's Chicken, Inc., among other well-known private and public companies. He also served as Chairman of the Board for several of these companies. Currently, Mr. Agadi is the Chairman of GHS Holdings, LLC and serves on the boards of myKaarma and The GLD Shop. He is an emeritus board member of Duke University's Fuqua School of Business and a member of the Board of Trustees for Babson College.
Dr. Ezell brings over 20 years of industry experience to the role. He has served as Chief Operating Officer of Flotek since 2022, and prior to that, he was the President of Flotek's Chemistry Technologies segment and Senior Vice President of Operations. Before joining Flotek, Dr. Ezell held various leadership roles at global energy company Halliburton, where he drove strategy and growth, as well as implemented change management. Dr. Ezell is a published scientist and an author on more than 26 patents.
Mr. Nierenberg has been a Director for Flotek since 2018 and an investor in the Company since 2016. He previously served as Chairman of the Board from 2019 to 2020. He brings extensive board governance and corporate turnaround experience, having served on dozens of public, private, not for profit, and government agency boards since 1985. Currently, Mr. Nierenberg is on the Washington State Investment Board, where he is the longest serving board member, and chairs The Ira Millstein Center for Global Markets and Corporate Ownership at Columbia Law School. Mr. Nierenberg is the Founder and President of Nierenberg Investment Management Company. Prior to that, he was a venture capitalist at Trinity Ventures, as well as a partner at Bain & Company.
PCTI...Hit over $5 today. Nice comeback from Y/E.
FTK...Today's presentation...
CLMB...Will be presenting at the Sidoti Micro Cap Conference next week Jan 18. Hoping to get a good feel for how they are doing.
https://sidoti.zoom.us/webinar/register/WN_kepxsDa-Rsih0kXxXC4AvA
Things sounded good on the last cc, so hopefully they had a good Q4 and off to a good start in 2023...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170537023&txt2find=clmb
FTK...Damn good presentation going on live right now (should be a replay later also)...
https://goto.webcasts.com/starthere.jsp?ei=1575091&tp_key=4acb9c592c&sti=ftk
ACDC...ProFrac's Electric Fleet...Power w/o Compromise...
IMMR...Immersion Signs Agreement to Make Haptic Technology Licenses Available Through Vishay Intertechnology
January 09 2023
Immersion Corporation (NASDAQ: IMMR), a leading developer and provider of technologies for haptics, today announced it has signed a license agreement with Vishay Intertechnology, Inc. (NYSE: VSH)(“Vishay”) to bundle Immersion haptic patent licenses for purchasers of Vishay’s solenoid-based haptic actuators, streamlining the design-in process for Vishay’s game-changing technology.
“We are very pleased to establish a partnership with Vishay,” said Eric Singer, Immersion’s President and CEO. “We look forward to working with Vishay to ensure that OEMs have easy access to our haptic technology.”
“We are excited to have this unique opportunity with Immersion to offer licensed, solenoid based haptic actuators to our customers,” said Mike Husman, Senior VP of the Inductors Business Segment of Vishay. “Our haptic actuators provide excellent performance to enable our customers to cost effectively implement near HD quality haptic technology to many new and existing applications. This license agreement makes it easy for customers to have an Immersion license just by purchasing from Vishay. No separate agreement and associated costs are needed between our end customer and Immersion.”
CLMB...Climb Channel Solutions and Graid Technology Partner to Deliver Next-Gen NVMe RAID Solutions
Climb Channel Solutions
Tue, January 3, 2023
Climb Channel Solutions now offers SupremeRAID™ NVMe/NVMeoF next generation RAID controller, enabling maximum flexibility, best-in-class data protection, and superior SSD performance for high-intensity workloads
EATONTOWN, N.J., Jan. 03, 2023 (GLOBE NEWSWIRE) -- Graid Technology, creators of award-winning SupremeRAID™ for PCIe Gen 3 and Gen 4 deployments, today announced its partnership with Climb Channel Solutions, an international specialty technology distributor and wholly-owned subsidiary of Climb Global Solutions, Inc. (NASDAQ: CLMB). Climb’s specialized focus is uniquely positioned to deliver emerging and disruptive technologies to VARs and MSPs. Starting immediately Graid Technology customers and partners will be able to purchase SupremeRAID™ next-generation NVMe/NVMeoF storage solutions directly through Climb Channel Solutions.
“We are pleased to partner with Climb Channel Solutions to offer flexible, easy-to-configure IT infrastructure solutions that drive technology forward while delivering our customers a competitive advantage in the market,” said Leander Yu, CEO and President of Graid Technology. “SupremeRAID™ unparalleled RAID capabilities joined with Climb’s world-class support, pre-sales services, and global fulfillment capabilities, are how our customers will maintain a competitive advantage in the market.”
As part of the Climb Channel Solutions portfolio, Graid Technology offers flexible, easy-to-configure IT infrastructure solutions that deliver the speed, ease of use, flexibility, and total cost of ownership (TCO) the market demands for the future of high-performance workloads. SupremeRAID™ directly processes I/O out of path to deliver unparalleled throughput and free up CPU resources for high performance applications – enabling superior NVMe/NVMeoF performance in AI-accelerated compute, all-flash arrays, HPC applications, and traditional IT applications.
“Speed of throughput, fast access without bottlenecks, increased performance, and overall cost savings are critical to running every business,” says Dale Foster, President of Climb Channel Solutions. “With Graid’s SupremeRAID™ technology we will be providing the tools that can mediate the bottleneck of storage infrastructure. Climb is proud to be partnering with Graid Technology.”
Learn more about SupremeRAID™ by Graid Technology here.
https://finance.yahoo.com/news/climb-channel-solutions-graid-technology-2053005
IMMR... New management, Stock repurchase program, Special dividend...
Immersion Corporation Announces Management Changes
Tue, January 3, 2023
Yahoo Finance
Business Wire
Immersion Corporation Announces Management Changes
Tue, January 3, 2023 at 11:00 AM GMT-3·6 min read
In this article:
Announces Special Dividend and $50 Million Stock Repurchase Program
Focus on driving multi-year step function increase in valuation
AVENTURA, Fla., January 03, 2023--(BUSINESS WIRE)--Immersion Corporation (NASDAQ: IMMR), a leading developer and provider of technologies for haptics, today reported management changes, a special cash dividend and a new stock repurchase program.
Effective immediately, Executive Chairman Eric Singer has been appointed President and CEO and will continue to serve as Chairman of the Board. The Board of Directors believes Eric Singer’s significant experience in operations, transactions and capital allocation as well as his deep technology experience will help to drive long-term shareholder value creation. Francis Jose will return to the role of General Counsel and oversee the Company’s ongoing intellectual property licensing efforts.
Immersion’s Board of Directors has also declared a special one-time dividend of 10 cents per share, based on the Company’s strong operating performance in 2022. This dividend is in addition to a new recently declared quarterly dividend program of 3 cents per share. In addition, Immersion’s Board of Directors approved a new stock repurchase program of up to $50.0 million for 2023. This new stock repurchase program replaces the stock repurchase program that had been in place in 2022 under which the Company repurchased a total of 2,542,065 shares (approximately 7.4% of shares outstanding as of December 31, 2021).
Eric Singer, President and CEO, stated, "Immersion has a unique set of assets, and the Board is redoubling its efforts to create a step function increase in value over the long term. Over the past two years, we have driven a significant increase in profitability, helping to fortify Immersion’s balance sheet with record levels of cash and investments. We now have multiple levers to drive shareholder value concurrent with our workstreams around monetization of our intellectual property, which encompasses entering new license arrangements and renewing existing licenses as well as our targeted litigation strategy, including but not limited to our recent lawsuit against Meta Platforms (NASDAQ: META). Our special dividend and stock repurchase program underscore our financial flexibility to return value to shareholders in a very uncertain macro environment, and we intend to leverage our financial resources to continue to increase shareholder value."
"We thank Francis Jose for his work as CEO over the past 16 months. I look forward to continuing to work with the team on our core priorities in the coming year," Singer added.
The special dividend of $0.10 per share will be paid on January 30, 2023 to shareholders of record on January 15, 2023. In addition, the Company’s first quarterly dividend will be paid on January 30, 2023 to shareholders of record on January 15, 2023. Future quarterly dividends will be subject to further review and approval by the Board in accordance with applicable law. The Board reserves the right to adjust or withdraw the quarterly dividend in future periods as it reviews the Company’s capital allocation strategy from time to time.
The stock repurchase program allows for the repurchase of up to $50 million of Immersion common stock for a period of up to 12 months. The timing, pricing and sizes of any repurchases will depend on a number of factors, including the market price of the Company’s common stock and general market and economic conditions. The stock repurchase program does not obligate the Company to repurchase any dollar amount or number of shares, and the program may be suspended or discontinued at any time.
CXDO...Another heads up...CXDO is back in the $1.60's, trading @ 5yr support...This has been/is a great YE buying opportunity (IMO).
Bought more in the $1.60's yesterday which will be a 17%++ gain once it gets back over $2.
52wk stock price low is $1.61.
Think this could easily be a 2023 double from here, but time will tell.
Heck, an $0.80 gain from here would be a 50% gain. Nott too shabby.
CXDO now my 4th largest position...If it dips into the $1.50's or lower it will probably be my 3rd largest hold.
https://finance.yahoo.com/quote/CXDO?p=CXDO
ACDC/FTK...Also, the REV Energy Holdings acquisition adds 3 more fleets which should/will benefit Flotek (FTK).
ACDC...ProFrac Holding Corp. to Acquire Two Companies Expanding its Pressure Pumping Footprint and Sand Mine Portfolio
Completed its Monarch Silica Sand Mine Acquisition in the Eagle Ford
Continues to Execute on its Strategic Growth Plan
WILLOW PARK, Texas, Dec. 27, 2022 /PRNewswire/ -- ProFrac Holding Corp. (NASDAQ: ACDC) ("ProFrac" or the "Company") today reported that it has closed its previously-announced acquisition of the Eagle Ford sand mining operations of Monarch Silica, LLC ("Monarch"), and announced that it has entered into definitive agreements to acquire two companies that will grow its pressure pumping footprint and sand mine portfolio.
ProFrac continues its "Acquire, Retire, Replace" strategy with the acquisition of a high-quality, Rockies-focused pressure pumper.
The Company's subsidiary, ProFrac Holdings II, LLC, has entered into a definitive agreement to acquire REV Energy Holdings, LLC ("REV"), a privately owned pressure pumping service provider with operations in the Rockies and Eagle Ford. Under the terms of the agreement, ProFrac will acquire REV for $140 million, consisting of $70 million in ProFrac Class B common shares, approximately $39 million in seller-provided financing, and the balance with cash on hand and debt assumption of approximately $5.5 million. The purchase agreement also provides for up to $20 million of earn-out payments in the event REV achieves EBITDA of approximately $90 million in 2023. The transaction is expected to close before the end of January 2023.
REV operates three premium frac fleets totaling 204,500 hydraulic horsepower that offer significant opportunity for upgrades through the additions of DGB engines and engine idle reduction systems. The acquisition will expand ProFrac's presence in both the Rockies and South Texas and is further demonstration of ProFrac's "acquire, retire and replace" strategy.
Ladd Wilks, ProFrac's Chief Executive Officer, added, "We are pleased to be acquiring REV, a company with a track record for high-quality service as well as safety and efficiency. REV operates three fleets consisting of mostly modern Tier IV conventional pumps that can be converted into next-generation assets through DGB upgrades. We are excited for the future with REV and believe that both our customers and shareholders will benefit from the combination."
ProFrac enhances its vertical integration strategy with the acquisition of the leading proppant producer in the Haynesville.
ProFrac also announced that its subsidiary, ProFrac Holdings II, LLC, has entered into a definitive agreement with Performance Holdings I, LLC and Performance Holdings II, LLC (collectively, "Performance Proppants") to acquire the largest in-basin proppant producer serving the Haynesville, for $475 million of cash. ProFrac expects the transaction to be accretive to earnings and free cash flow immediately upon closing. Based on preliminary discussions with capital providers, including existing and potential new lenders, as well as the Company's largest shareholders, ProFrac believes it will be positioned to fund the acquisition with a combination of new capital and cash from operations. Such preliminary discussions are non-binding, and the Company cannot assure that it will raise new capital from such discussions on a timely basis or otherwise. The Company expects the acquisition to close in the first quarter of 2023.
Matt Wilks, ProFrac's Executive Chairman, commented, "Today is an exciting day at ProFrac, as we have closed on the Monarch acquisition and are announcing agreements to add two great businesses to the ProFrac portfolio. We are thrilled for the unique opportunity to add Performance Proppants to our growing portfolio of in-basin sand mines. By acquiring Performance Proppants, we would add approximately 10.4 million-tons-per-year of nameplate production capacity in the Haynesville, where we currently operate six active frac fleets. ProFrac is a long-term customer of Performance Proppants and believes that the combination of Performance Proppants' high-quality assets and strategic geographic positioning with our internal manufacturing capabilities will provide ProFrac with an unparalleled cost advantage in the Haynesville."
The acquisition of Performance Proppants further demonstrates ProFrac's commitment to enhancing its capabilities and cost structure through its vertical integration strategy. By sourcing proppant internally from logistically-advantaged mines, ProFrac expects to be in position to efficiently serve its customers and minimize its input costs in a basin known for demanding hydraulic fracturing jobs with high treating pressure and large proppant loadings.
The consummation of both transactions is subject to customary closing conditions, including, among others, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
Advisors
Brown Rudnick LLP and Lowenstein Sandler LLP are serving as legal advisor and merger clearance counsel, respectively, to ProFrac on the acquisition of REV. Piper Sandler is serving as REV's exclusive financial advisor, and Sparkman + Foote LLP is serving as REV's legal counsel.
Piper Sandler & Co. is serving as exclusive financial advisor to ProFrac and Winston & Strawn and Lowenstein Sandler LLP are serving as ProFrac's legal advisor and merger clearance counsel, respectively, to ProFrac on the acquisition of Performance Proppants. Stephens & Company is serving as exclusive financial advisor to Performance Proppants, and Brownstein Hyatt Farber Schreck, LLP is serving as Performance Proppants' legal counsel.
About ProFrac Holding Corp.
ProFrac Holding Corp. is a growth-oriented, vertically integrated and innovation-driven energy services company providing hydraulic fracturing, completion services and other complementary products and services to leading upstream oil and gas companies engaged in the exploration and production ("E&P") of North American unconventional oil and natural gas resources. Founded in 2016, the Company was built to be the go-to service provider for E&P companies' most demanding hydraulic fracturing needs. ProFrac is focused on employing new technologies to significantly reduce "greenhouse gas" emissions and increase efficiency in what has historically been an emissions-intensive component of the unconventional E&P development process. For more information, please visit the Company's website, https://www.pfholdingscorp.com.
ACDC...Nice Christmas run...up over +7% to $25.19 today:)
CXDO...Trading waaaaaaaay below book with nothing but growth ahead...
https://www.webcaster4.com/Webcast/Page/2937/47209
@ $1.65 today with a BV per share of $2.92.
Market Cap very low @ $42.5M.
CXDO...Available @ $1.65. Just added more. One of the directors has been selling so I'm guessing that along with year-end selling is why it is at a new year low. Huge buying opportunity IMO, but you never know. If CXDO keeps dropping I'll keep adding. Now one of my top positions.
CXDO...A good Y/E buying opportunity (hopefully). Been accumulating quite a bit of CXDO in the $1.70's & $1.80's over the past couple weeks, as it's been trading close to a 52wk low. There are some things I really like about this company.
Thinking this will be a strong 2023 hold...We'll see what happens...
PCTI...Another large block trade @ $4....09:58:14 $4.00 258,420 shares
PCTI...LOL. No!!! Haven't sold any. Will continue holding PCTI unless it makes sense to sell for losses. That's the only reason I haven't added at these prices. Don't want to blow my 30 day window just in case. If PCTI is below $4.20 next week, I'll be helping support the share price. That is a guarantee!! :)
5.4% yield on a debt free, 5g, cash strong, low PE, growing company, is low risk investment (IMO).
IMMR...Immersion Renews Dongwoon Anatech to Multi-Year License
AVENTURA, Fla., December 13, 2022--(BUSINESS WIRE)--Immersion Corporation (NASDAQ: IMMR), a leading developer and provider of technologies for haptics, today announced that it renewed a multi-year license with Dongwoon Anatech, which creates analog integrated circuits (ICs) for phones, wearables, and other electronic devices, to make Immersion haptic patent licenses available to mobile phone, wearable, and PC OEMs through Dongwoon.
"As the adoption of haptics increases in markets all over the world, this business relationship is an important component of our strategy to meeting that demand, ensuring OEMs have easy access to haptic technology and IP," said Nobumitsu Shimada, Representative Director, Japan and VP, APAC, Immersion. "We are pleased that Dongwoon has renewed its license with us," Shimada continued. "We are proud to count Dongwoon to be among our licensees."
https://finance.yahoo.com/news/immersion-renews-dongwoon-anatech-multi-140000959.html
hweb, A lot of gains this year came from WSTG (which I carried into this year from last), SD and PFHC (ACDC). Those 3 stocks really helped boost my earnings. So yes, good year.
That being said, I'm going to wait for the last two weeks of Dec to make final decisions on what to sell, add, and hold into next year.
Currently holding strong positions in FTK, CLMB, CSPI, and ACDC. Holding decent positions in PCTI, IMMR. And smaller positions in a few others.
IMMR...Been doing great since earnings.
PCTI/FTK...I'm in a tough position hweb...PCTI is under 10% of my portfolio and I would love to add here. However, my dilemma is I need some losses to help offset gains for the year and I'm running out of time. I have some higher priced PCTI shares I'm holding which I may want to sell before Y/E if the price stays down FOR TAX PURPOSE ONLY. So I'm more concerned with the 61 day window time frame than I am in adding at this time. I can always add them back after day 30 of the sell.
My perfect plan is/was to really overload on FTK when it was around $1.05 (which I did) and sell my higher priced shares before Dec 31. Sounds really off-the-wall, but I need FTK to drop and stay low for a couple more weeks, or I may turn to any loss I have to help off-set gains.
Nice problem to have , but man it's driving me crazy !!!
Not sure what I'm going to do yet, just thinking of different scenarios...
CLMB...Climb Channel Solutions announces renewed partnership with IDERA in the UK
Wednesday 7 December 2022
Ashburton, Devon (December 7th, 2022) – Climb Channel Solutions, an international specialty technology distributor and wholly-owned subsidiary of Climb Global Solutions, Inc. (NASDAQ: CLMB) today announces a renewed partnership with IDERA, an Idera, Inc. company. This partnership will give resellers access to leading technology to support customers’ complex data environments.
IDERA delivers tools that span on premises, cloud and hybrid platforms and puts your customers in full control of the data management lifecycle — letting them tame big data challenges and turn cost centers into growth assets. Climb will support resellers with assistance in choosing the right solution for their customers, offer enablement for sales teams and simplify the buying process through the UK IT Channel.
"We’re excited to partner again with Climb Channel Solutions to offer world-class SQL monitoring, security, and compliance tools. By partnering with Climb, a leading technology distributor in Europe, IDERA will reach new customers and increase access to our many database solutions." Mark Berglund, Global VP of Sales, IDERA
IDERA offers a great range of technology to the market and will expand Climb’s database portfolio to include additional technology to simplify SQL Server management for customers.
“We’re looking forward to working closer with IDERA once again and refocus on this relationship. The Climb team has deep knowledge and experience of supplying the IDERA portfolio and can help resellers with their SQL Server management needs.”, adds Jane Silk, VP of Sales, EMEA, Climb Channel Solutions.
While this renewed focus looks at increasing sales across the UK and Ireland, Climb will be looking at further growing IDERA’s footprint into EMEA in the future.
https://pressreleases.responsesource.com/news/103501/climb-channel-solutions-announces-renewed-partnership-with-idera-in-the/
HaHaHaHaHa...I love that one!! My mind was already thinking of places until I got to the end.
CSPI...Yes, great Q...Just listened to the cc and I didn't hear anything overly exciting to add to what we already know.
Love the $5.58 per share in cash and the positive FY2023 outlook.
Nice to see the price up 10% after an earnings report for once...(LOL)
CSPI...The Company reported net income of $1.4 million in the fiscal 2022 fourth quarter, or $0.31 per diluted common share
The 2022 fourth quarter results reflect a $0.9 million gain from the impact of foreign currency exchange rates, while the prior year period includes a gain from the sale of discontinued operations of $0.5 million, or $0.11 per diluted common share.
The Company had cash and cash equivalents of $24.0 million as of September 30, 2022
CSPI...CSP Inc. Fiscal Fourth Quarter Revenue Increases 67%; EPS of $0.31; Gross Backlog of $23.2 Million Remains Near Record Level
ull Year Gross Margin Increase Reflects Continued Demand for High Margin Products and Services
LOWELL, MA / ACCESSWIRE / December 6, 2022 / CSP Inc. (NASDAQ: CSPI), an award-winning provider of security and packet capture products, managed IT and professional services and technology solutions, reported significantly improved financial and operating results for the fiscal 2022 fourth quarter and full year ended September 30, 2022, and provided a business update.
The Company also announced that its board of directors has voted to pay a quarterly dividend of $0.03 per share to shareholders of record on December 21, 2022, payable on January 6, 2023.
Fourth Quarter and Full Year Operating Highlights and Recent Achievements
Product revenue grew 98.5% compared to the year-ago fourth quarter
Service revenue grew 24.6% compared to the year-ago fourth quarter
The Technology Solutions (TS) business segment generated significant revenue growth during the quarter, which reflects rising demand from both new and existing customers
For the full year, revenue grew 10.5% and EPS grew 161.7%
Increased sales of higher margin products and services led to record gross margin as a percentage of sales of 34.6% for the full year, nearly 2 percentage points over the FY 2021 gross margin as a percentage of sales
Gross backlog (backlog) of $23.2 million as of September 30, 2022 was near a record level and grew significantly compared to $13.0 million as of September 30, 2021
"Our team, and our operations, achieved exceptional results during our fiscal fourth quarter. The TS business segment hit on all cylinders during the period demonstrating the strength of the CSPi product and services offerings," commented Victor Dellovo, Chief Executive Officer. "I can say, unequivocally, we are executing our plan in every operating division, allowing us to achieve significant revenue growth of 67% for the fiscal fourth quarter compared to the year-ago fourth quarter. The rising momentum, when combined with our sizeable backlog of $23.2 million, renews our optimism and gives us confidence we can achieve even greater success in fiscal 2023."
"Our 67% revenue growth during the quarter was driven by the strength of the TS business and its Managed Services practice. The momentum generated in the fourth quarter has continued, to date, into our fiscal first quarter. We are winning new customers while, at the same time, continue to increase business from existing customers. The High-Performance Products (HPP) business is entering a phase of increased interest and activity. I believe fiscal 2023 is going to be an exciting year for this division.
While supply chain issues continue to challenge the revenue growth of our TS and HPP businesses, we have successfully managed these issues and converted a substantial portion of our backlog to revenue during the quarter. At the same time, our new business pipeline continued to build, and we finished with a near record backlog at the end of our fiscal year. As a result of this transaction, as well as others either signed or nearing execution, we expect our fourth quarter momentum to continue during the first half of fiscal 2023 and are cautiously optimistic that the entire year will lead to growth over fiscal 2022."
Fiscal Year 2022 Fourth Quarter Results
Revenue for the fiscal 2022 fourth quarter was $16.7 million, a 67% increase compared to $10.0 million in the year-ago fiscal fourth quarter as the Company continued to perform and meet its operating objectives in the current economic environment. The supply chain issues, while easing from the historically high levels experienced earlier in the year, remain a challenge and continues to impact the Company's ability to receive the necessary components that are needed to deliver finished products to the customer.
Gross profit for the fiscal fourth quarter was $6.0 million, or 36.2% of sales compared with $4.2 million, or 41.7% of sales in the year-ago fiscal fourth quarter, reflecting a higher revenue contribution from low-margin products. The Company reported net income of $1.4 million in the fiscal 2022 fourth quarter, or $0.31 per diluted common share compared with net income of $0.8 million, or $0.19 per diluted common share for the fiscal fourth quarter of fiscal 2021. The 2022 fourth quarter results reflect a $0.9 million gain from the impact of foreign currency exchange rates, while the prior year period includes a gain from the sale of discontinued operations of $0.5 million, or $0.11 per diluted common share.
Full Year Fiscal 2022 Results
Revenue for the full year ended September 30, 2022, was $54.4 million, a 10.5% increase compared with revenue of $49.2 million for the prior fiscal year. Gross profit for the fiscal year ended September 30, 2022, was $18.8 million, or 34.6% of sales compared with $16.1 million, or 32.8% of sales, for the prior year reflecting a more favorable product mix. The fiscal year 2022 results reflect a $1.7 million gain from the impact of foreign currency exchange rates. The Company reported net income of $1.9 million in the fiscal twelve months ended September 30, 2022, or $0.42 income per diluted common share compared with net income of $0.7 million, or $0.16 per diluted common share for the prior fiscal year. The 2021 results include a gain on forgiveness of debt of the Paycheck Protection Plan SBA Loans at the TS and HPP segment totaling $2.2 million, which was established as part of the CARES Act loan and recognized in fiscal 2021 first quarter. The fiscal 2021 results also include a gain from the sale of discontinued operations of $0.5 million, or $0.11 per diluted common share
The Company had cash and cash equivalents of $24.0 million as of September 30, 2022, which was an increase of approximately $4.0 million from September 30, 2021, primarily due to the receipt of an installment payment on a large financing order in the fiscal 2022 fourth quarter. During the fiscal year ended September 30, 2022, the Company utilized the stock repurchase program and repurchased approximately 22 thousand shares of its common stock.
Conference Call Details
CSPi Chief Executive Officer Victor Dellovo and Chief Financial Officer Gary W. Levine will host a conference call at 10:00 a.m. (ET) today, December 6, 2022, to review CSPi's financial results and provide a business update. To listen to a live webcast of the call, please visit the "Investor Relations" section of the Company's website at www.cspi.com. Individuals may also listen to the call via telephone, by dialing 877-545-0523 or 973-528-0016 and use the Participant Access Code: 283982 and use when greeted by the live operator. To listen to a live webcast of the call, the event link is https://www.webcaster4.com/Webcast/Page/2912/47262. For interested parties unable to participate in the live call, an archived version of the webcast will be available for approximately one year on CSPi's website.
https://www.streetinsider.com/Accesswire/CSP+Inc.+Fiscal+Fourth+Quarter+Revenue+Increases+67%25%3B+EPS+of+%240.31%3B+Gross+Backlog+of+%2423.2+Million+Remains+Near+Record+Level/20936350.html
Nice read on NG prices researcher. Hope you made a mint!!