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CSPI...Back to $9 today after hitting high $6's a few weeks back. Nice.
EPSN...(Another debt free NG producer) announces dividend, $1.8M in share repurchases so far this Q, strong cash position, and nice added production...HOUSTON, May 31, 2022 (GLOBE NEWSWIRE) -- Epsilon Energy Ltd. (“Epsilon” or the “Company”) (NASDAQ: EPSN) today announced that its Board of Directors has declared a dividend of $0.0625 per share of common stock (annualized $0.25/sh) to the stock holders of record at the close of business on June 15th 2022, payable on June 30th 2022. All dividends paid by the Company are “eligible dividends” as defined in subsection 89(1) of the Income Tax Act (Canada), unless indicated otherwise. In addition the Company repurchased 259,300 shares for $1.8 MM (approximately $7/share) during the quarter (through May 27, 2022). The company is authorized to purchase an additional 900,000 shares under its current program and continues to regard current trading levels as attractive from a valuation perspective.
Michael Raleigh, CEO, commented, “After 30 days of production on each of the two (0.55 Net to EPSN) recently completed wells in our Oklahoma project we are excited to report that the average performance of the wells exceeded our expected type curve, and, at current commodity prices, will achieve payout in less than six months. To date the Company has participated in four wells (1.15 Net) in the region and the average performance has exceeded the expected type curve performance. The team is currently evaluating other locations within our existing inventory to drill and complete this year.
In the Marcellus, we expect the operator to complete the previously drilled well (0.18 Net to EPSN) in the third quarter of 2022.
Based on current strip prices, the company anticipates building significant incremental cash for the balance of the year. The current cash balance is approximately $31 million and the company has no outstanding debt.”
About Epsilon
Epsilon Energy Ltd. is a North American on-shore focused independent exploration and production company engaged in the acquisition, development, gathering and production of oil and gas reserves. Our primary area of operation is the Marcellus basin in northeast Pennsylvania. Our assets are concentrated in areas with known hydrocarbon resources, which are conducive to multi-well, repeatable drilling programs. For more information, please visit www.epsilonenergyltd.com, where we routinely post announcements, updates, events, investor information, presentations and recent news releases.
https://finance.yahoo.com/news/epsilon-energy-ltd-announces-following-210500997.html
CSPI...Current market cap @ $37M...Cash @ $21M. How can anyone not want this company as part of their portfolio especially with them having no to low debt? I've been saying that for years though, but in this kind of market, it's nice to see some traction on a large position while the market has been unstable.
And yes, I agree, it is "sort of sexy space".
PLUS...ePlus hits it out of the park (again)...Robust Sales Growth Drives Significant Gains in Operating Income and Earnings--
Fourth Quarter Fiscal Year 2022
Net sales increased 28.1% to $451.5 million; technology segment net sales increased 26.4% to $419.4 million; service revenues increased 16.6% to $61.6 million.
Adjusted gross billings increased 20.8% to $638.5 million.
Consolidated gross profit increased 17.8% to $115.4 million.
Consolidated gross margin was 25.5% compared to 27.8% in last year's quarter.
Net earnings increased 55.9% to $24.2 million.
Adjusted EBITDA increased 34.4% to $39.7 million.
Diluted earnings per share increased 56.9% to $0.91. Non-GAAP diluted earnings per share increased 42.3% to $1.01.
Fiscal Year 2022
Net sales increased 16.1% to $1,821.0 million; technology segment net sales increased 14.9% to $1,733.0 million; service revenues increased 19.0% to $240.6 million.
Adjusted gross billings increased 15.8% to $2,620.6 million.
Consolidated gross profit increased 17.1% to $461.0 million.
Consolidated gross margin was 25.3%, an increase of 20 basis points.
Net earnings increased 41.9% to $105.6 million.
Adjusted EBITDA increased 32.6% to $170.0 million.
Diluted earnings per share increased 41.9% to $3.93. Non-GAAP diluted earnings per share increased 37.6% to $4.39.
ePlus inc. (NASDAQ: PLUS), a leading provider of technology and financing solutions, today announced financial results for the three months and fiscal year ended March 31, 2022.
Management Comment
"Fiscal 2022 marked a highly successful year for ePlus, as we generated strong financial results while investing in our people and capabilities to enhance long-term growth," said Mark Marron, president and chief executive officer of ePlus. "Reflecting broad-based growth in our technology segment, fourth quarter net sales rose 28% to nearly $452 million, capping off an outstanding year in which consolidated net sales grew 16% to $1.8 billion. Our results again demonstrated the scalability and operating leverage in our business, as diluted earnings per share increased nearly 57% in the fourth quarter and over 40% for fiscal 2022."
Mr. Marron continued, "Our wide range of capabilities, providing both services and solutions, empowers our customers to accelerate their digital transformation and harness the power of technology to drive innovation. We continue to experience strong demand for cloud infrastructure, cybersecurity and networking, where our expertise and strategic partnerships enable us to deliver integrated and agile solutions in these rapidly evolving, high-growth markets."
Prior Period Reclassifications due to Stock Split
Reclassifications of prior period amounts related to number of shares and per share amounts have been made to conform to the current period presentation due to the December 13, 2021, two-for-one stock split.
Fourth Quarter Fiscal 2022 Results
For the fourth quarter ended March 31, 2022, as compared to the fourth quarter ended March 31, 2021:
Consolidated net sales increased 28.1% to $451.5 million, from $352.6 million.
Technology segment net sales increased 26.4% to $419.4 million, from $331.8 million due to higher sales of product and services. Service revenues increased 16.6% to $61.6 million, from $52.9 million due to increases in professional services and managed services. Adjusted gross billings increased 20.8% to $638.5 million from $528.6 million.
Financing segment net sales increased 54.4% to $32.1 million, from $20.8 million mainly due to higher post-contract revenue from early lease buyouts.
Consolidated gross profit increased 17.8% to $115.4 million, from $97.9 million. Consolidated gross margin was 25.5%, down from 27.8% last year, primarily due to lower margins from our financing segment combined with lower service margins, partially offset by higher product margin in our technology segment. The decrease in margins from our financing segment was due to a large early lease buyout in the current quarter, while the decline in service margins was due to an increase in both internal and third-party costs.
Operating expenses were $80.9 million, up 8.9% from $74.3 million last year, primarily due to increases in variable compensation stemming from higher gross profit, and higher salaries and benefits. Our headcount at the end of the quarter was 1,577, up 17 from a year ago.
Consolidated operating income increased 46.1% to $34.5 million.
Our effective tax rate for the current quarter was 29.6%, lower than the prior year quarter of 32.6%, due to higher non-deductible compensation in the prior year.
Net earnings increased 55.9% to $24.2 million.
Adjusted EBITDA increased 34.4% to $39.7 million, from $29.6 million.
Diluted earnings per share was $0.91, compared with $0.58 in the prior year quarter. Non-GAAP diluted earnings per share was $1.01, compared with $0.71 last year.
Fiscal Year 2022 Results
For the fiscal year ended March 31, 2022, as compared to the fiscal year ended March 31, 2021:
Consolidated net sales increased 16.1% to $1,821.0 million, from $1,568.3 million.
Technology segment net sales increased 14.9% to $1,733.0 million, from $1,508.0 million due to higher sales of product and services. Service revenues increased 19.0% to $240.6 million, from $202.2 million due to increases in professional services and managed services. Adjusted gross billings was $2,620.6 million, an increase of 15.8% from $2,263.9 million.
Financing segment net sales increased 45.7% to $88.0 million, from $60.4 million, primarily due to higher proceeds from sales of equipment, including early lease buyouts as well as sales of equipment at the end of the lease term.
Consolidated gross profit increased 17.1% to $461.0 million, from $393.6 million. Consolidated gross margin was 25.3%, up from 25.1% last year, due to higher product margin and a higher proportion of sales recorded on a net basis in our technology segment.
Operating expenses were $313.7 million, up 9.2% from $287.2 million last year, primarily due to increases in variable compensation stemming from higher gross profit, higher healthcare costs, software license and maintenance, and travel expenses, as well as higher depreciation and amortization due to the acquisition of SMP on December 31, 2020.
Consolidated operating income increased 38.5% to $147.3 million.
Our effective tax rate for the current year period was 28.1%, lower than last year of 30.4% due to prior year's unfavorable adjustments to the federal benefit from state taxes and non-deductible executive compensation.
Net earnings increased 41.9% to $105.6 million.
Adjusted EBITDA increased 32.6% to $170.0 million, from $128.2 million.
Diluted earnings per share was $3.93, compared with $2.77 in the prior year. Non-GAAP diluted earnings per share was $4.39, compared with $3.19 last year.
Balance Sheet Highlights
As of March 31, 2022, ePlus had cash and cash equivalents of $155.4 million, compared with $129.6 million as of March 31, 2021. Inventory, which represents equipment ordered by customers but not yet delivered, increased 121.6% from March 31, 2021, and 5.0% sequentially, due to ongoing projects with customers coupled with some impact from continued supply chain constraints. Total stockholders' equity was $660.7 million, compared with $562.4 million as of March 31, 2021. Total shares outstanding were 26.9 million on March 31, 2022 and 27.0 million on March 31, 2021.
Summary and Outlook
"We enter fiscal 2023 with solid momentum, supported by the strength of our backlog and healthy market fundamentals as enterprise technology investments remain a top priority. We continue to successfully execute on our growth strategy, expanding our market share by strengthening our relationships with existing customers and leveraging our expertise and capabilities across the technology stack to capture new business opportunities.
Mr. Marron concluded, "We believe the outlook for IT spending in 2022 remains favorable, positioning ePlus for continued growth. Against this backdrop, lead times are extending for certain technologies, which we anticipate will serve to extend project implementations throughout the year. To navigate this environment, we continue to work closely with our extensive roster of technology partners to deliver timely, innovative solutions that solve our customers' complex IT challenges."
Recent Corporate Developments/Recognitions
In the month of March, ePlus:
Announced the commencement of its 2022 Girls Re-Imagining Tomorrow Program, which introduces school-aged girls to technology-based careers with an emphasis on cybersecurity and artificial intelligence.
Was named to the CRN 2022 Tech Elite 250 list for the ninth year.
Announced a stock repurchase program with the authorization to purchase up to one million shares.
Announced it earned multiple attestations for controls surrounding its Managed Services Center, Cloud Hosted Services, Services Desk, Warehousing Operations and OneSource family of products.
In the month of February, ePlus:
Was recognized on CRN's 2022 Managed Service Provider (MSP) 500 List in the Elite 150 category for the fifth consecutive year.
https://finance.yahoo.com/news/eplus-reports-fourth-quarter-fiscal-200500509.html
CSPI...Nice. I'm with Joe all the way...CSPI is a safety net to park money IMO. At this point, there is no reason for me to sell. CSPI is now my #3 position only because I have shifted so much into FTK as it dropped to the low $1's. FTK is currently my #1 position w/ WSTG coming in @ #2.
SD/FTK...Yes...Nice day for SD, 52wk High today!...I still hold a position but not a big as I once had. Been buying a lot more FTK while it's been between $1.15 and $1.19. Up to $1.26 currently.
Flotek had a great presentation this morning.
FTK...Flotek investor presentation starts shortly,,,
https://www.watertowerresearch.com/calendar_events/john-gibson-chairman-ceo-and-president-of-flotek-industries-wednesday-may-25-2022-at-11-00-am-edt
WSTG...Climb Channel Solutions Partners with Trilio to Provide Data Protection and Control Over Cloud-Native Applications
EATONTOWN, N.J., May 24, 2022 (GLOBE NEWSWIRE) -- Climb Channel Solutions, an international specialty technology distributor and wholly-owned subsidiary of Wayside Technology Group, Inc. (NASDAQ: WSTG) and Trilio, a leading provider of cloud-native data protection, have announced a partnership to bring scalable Kubernetes backup, DR and management tools to organizations who are building cloud-native applications.
Businesses are migrating from traditional IT environments to cloud and hybrid cloud environments with backup and recovery being a top priority. Climb Channel Solutions’ (Climb) collaboration with Trilio will provide the solutions required to give businesses more power and control over their cloud and container environments.
“Building a resilient cloud and container infrastructure is a priority for businesses in the ever-evolving IT data center,” says Dale Foster, CEO of Climb Channel Solutions. “Partnering with Trilio will enable the channel to effortlessly scale and protect container environments. We look forward to a successful partnership.”
Cloud services and containerized applications have experienced explosive growth in recent years as businesses increase innovation in their IT services to support a remote and hybrid work environment. As these organizations move their workloads into production, it is critical to have a cloud-native data protection strategy to meet application SLAs, DR compliance and ransomware protection imperatives. Backing up, restoring, and migrating Kubernetes applications requires a sophisticated approach that starts at the application-level. The TrilioVault for Kubernetes cloud-native data protection platform gives customers more power and control over their cloud environments – efficiently protecting, mobilizing, and securing point-in-time backups while providing for speedy workload recovery.
“Trilio is thrilled to partner with Climb Channel Solutions. While many organizations embrace Kubernetes to achieve agility, there remains a tremendous shortage of knowledgeable Kubernetes experts,” said Sarah Goodchild, Senior Director of Worldwide Partner Sales and Alliances at Trilio. “Climb’s portfolio of technology partners aligns well with the Trilio ecosystem and strategy to bridge the skills gap by delivering an intuitive, out-of-the-box, cloud-native data protection platform that customers can easily deploy to protect and manage their Kubernetes applications.”
https://finance.yahoo.com/news/climb-channel-solutions-partners-trilio-120000525.html
WSTG...No news that I could find...(?)
WSTG...New ALL-TIME HIGH today...NICE!!!
CSPI...Interesting. nelson, I have no idea, but nice to see buying and the share price recently stabilize in the $7's.
FTK...$3 price target...Noble Financial analyst Michael Heim maintained a Buy rating on Flotek (FTK – Research Report) today and set a price target of $3.00. The company's shares closed last Tuesday at $1.29. Heim has an average return of 13.3% when recommending Flotek. According to TipRanks.com, Heim is ranked #54 out of 7901 analysts. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Flotek with a $3.00 average price target.
FTK...Available for $1.14 AH's (10-Q filed)...Q1 means nothing going forward (IMO)...Accumulate and wait for the cc...We'll see what happens
ISUN...And they cut the hell out of guidance...I agree, something doesn't smell right...
FTK...Profrac (PFHC) went public today...
https://finance.yahoo.com/news/profrac-holding-corp-prices-initial-230600160.html
From Flotek's (FTK) 3/31/22 cc...
- Certainly, our most exciting win on the sustainable revenue goal is our new contract with ProFrac valued at over $2 billion in revenues over the next decade, which will commence on April 1.
- We believe that the Flotek of 2022 and beyond will be vastly different than the version exiting 2021.
- We anticipate combined organic appropriate related 2023 revenues to be well in excess of $200 million.
- ProFrac contract is a non-exclusive agreement.
- The great part about this contract, which I hope does not go unnoticed, is that it gives us continuity regardless of all price.
CSPI...CSP Inc. Reports Improving Business Trends During Second Fiscal Quarter of Fiscal Year 2022 as Backlog Exceeds $17 Million
Gross Margin Expansion Reflects Continued Demand for Higher Margin Products and Services
LOWELL, Mass. , May 11, 2022 (GLOBE NEWSWIRE) -- CSP Inc. (NASDAQ: CSPI), an award-winning provider of security and packet capture products, managed IT and professional services and technology solutions, reported financial and operating results for the fiscal 2022 second quarter ended March 31, 2022 , and provided a business update.
Second Quarter Operating Highlights and Recent Achievements
-- Services revenue grew 21% compared to the year-ago second quarter
-- Backlog as of March 31,2022 was a record $17.3 million , more than doubled
compared to $7.8 million on March 31, 2021 :
-- $13.0 million of the backlog is in the Technology Solutions (TS)
business compared to $7 million year ago
-- $4.3 million of the backlog is in the High-Performance Product
(HPP) business compared to $0.3 million backlog a year ago
-- Gross margin expansion continued, up 4% over prior year, and lead to
profitability of $0.03 per diluted share
"We had a strong fiscal second quarter as the demand for our products and services enabled us to increase the backlog to over $17 million , a significant rise compared to the year-ago, and a new record level," said Victor Dellovo , Chief Executive Officer. "Moreover, the HPP business accounts for over $4 million of the backlog, whereas a year ago there was only $0.3 million in the HPP business, clearly demonstrating the team is focused on delivering positive results. Furthermore, the $4 million backlog at the end of March represented just a handful of customers and I expect the backlog to increase over the next few months given the strength of the pipeline and several late-stage customer negotiations. The TS business, which represents the bulk of today's business, continues to impress, and perform at an extremely high level. This quarter's results included significant contributions from all three revenue sources - managed services, cloud, and professional services -- while the TS backlog of $13 million represents several million dollars in potential profit.
"Overall, our entire CSPi team continues to execute in a challenging business environment, and I believe our methodical approach enabled us to expand gross margin and achieve profitability compared to the year-ago quarter. This was accomplished despite the ongoing supply chain issues hampering our ability to receive components and deliver finished product to our customers.
"We believe our backlog represents an undervalued asset, and the fact that we have not lost a single contract reflects the value customers place on our products and services. We also increased the pace of new customers for our newest products, ARIA and UCaaS, and I believe the growing pipeline will allow us to accelerate customer adoption during the second half of fiscal 2022 and well into fiscal 2023. We also leveraged our strong balance sheet during the quarter and repurchased approximately 13,000 shares of our common stock with an average price per share of $7.81 . We believe it is deeply undervalued and does not reflect our progress, long-term growth, and profitability outlook, not to mention the current cash position on a per share basis."
iscal Year 2022 Second Quarter Results
Revenue for the fiscal 2022 second quarter was $12.0 million compared to $14.1 million in the year-ago fiscal second quarter. Gross profit for the fiscal second quarter was $4.2 million , or 35% of sales, compared with $4.4 million , or 31% of sales in the year-ago fiscal second quarter. The Company reported net income of $156,000 in the fiscal second quarter, or $0.03 per diluted share, compared with a net loss of $(847,000) , or $(0.20) per share for the fiscal second quarter of fiscal 2021.
The Company had cash and cash equivalents of $20.3 million as of March 31,2022 which was an increase of $1 million from the prior quarter. Due to the Company's prudent expense controls and rising demand for the Company's new products and services, management believes it has the resources to execute the multi-year growth strategy of transforming to a cybersecurity, wireless and managed services company. During the fiscal second quarter ended March 31, 2022 , the Company utilized the stock repurchase program and repurchased approximately 13,000 shares of its common stock.
Fiscal Year 2022 Six Month Results
Revenue for the fiscal six months ended March 31, 2022 , was $24.4 million compared with revenue of $25.5 million in same prior year period. Gross profit for the fiscal six months ended March 31, 2022 , was $7.8 million , or 32.1% of sales compared with $7.7 million , or 30.4% of sales, reflecting a more favorable product mix. The Company reported a net loss of $(210,000) and $(0.05) per share in the fiscal six months ended March 31, 2022 , compared with net income of $304,000 , or $0.07 per diluted share for the fiscal six months ended March 31, 2021 . The 2021 fiscal first six months includes a gain on debt extinguishment 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.
PCTI...Thanks nelson.
PCTI...Just glanced at the cc transcript. Looks like there was a tech glitch right at the time they gave Q2 guidance. However this was caught right after the sound came back on...
"1.7 million in the second quarter of 2021. We project our non-GAAP gross profit margin percentage in the range of 44% to 45%."
I'm thinking/hoping the $1.7M is referring to net income, or approx $0.09 to $0.10 EPS.
Q3/Q4 should be stronger.
Current dividend yield = 5.46%.
Not too shabby.
PCTI...Thanks...Sounds good!! I listened to the call but missed the guidance when it cut out...I thought it was due to a tech issue on their end when it cut out...LOL.
Was the adj net income guidance $1.7M for Q2? I thought I heard that.
If that's right, $0.09 to $0.10 EPS?
FTK...Up HUGE after hours...FLOTEK ANNOUNCES SHAREHOLDER APPROVAL OF $2 BILLION+ LONG TERM CONTRACT
HOUSTON, May 10, 2022 /PRNewswire/ -- Flotek Industries, Inc. ("Flotek" or the "Company") (NYSE: FTK), a leader in technology-driven specialty green chemistry solutions, today announced that Flotek's shareholders overwhelmingly approved the previously-announced agreement with ProFrac Holdings, LLC ("ProFrac") to expand the existing long-term supply agreement with one of ProFrac's affiliates.
The results from yesterday's meeting indicate that approximately 98.5% of the votes cast by Flotek common stock voted in favor of the proposal to approve the transactions contemplated by the agreement with ProFrac. The full results of the vote are available in a Current Report on Form 8-K filed with Securities & Exchange Commission on May 9, 2022.
The transactions are expected to close expeditiously, subject to usual and customary closing conditions.
PCTI...Hit top-end of guidance...PCTEL, Inc. (Nasdaq: PCTI) announced its results for the first quarter ended March 31, 2022.
Highlights
Revenue of $22.5 million in the first quarter, 27.3% higher compared to the first quarter 2021.
Gross profit margin of 41.4% in the first quarter compared to 47.1% in the first quarter 2021. The decline from the first quarter of 2021 is primarily due to a higher mix of antennas and Industrial IoT devices.
GAAP net loss per diluted share of $0.09 in the first quarter compared to net loss of $0.04 in the first quarter 2021. Restructuring expenses related to the manufacturing transition in China were $0.05 per share in the first quarter 2022.
Non-GAAP net income and adjusted EBITDA are metrics the Company uses to measure its core earnings.
Non-GAAP net income per diluted share of $0.02 in the first quarter compared to Non-GAAP net income per diluted share of $0.01 in the first quarter 2021.
Adjusted EBITDA as a percent of revenue of 4.9% in the first quarter compared to 4.8% in the first quarter 2021.
$27.7 million of cash and investments and $0.1 million of debt at March 31, 2022 compared to $30.8 million and $0.1 million of debt at December 31, 2021. Payments for restructuring expenses were $1.4 million in the first quarter 2022.
“We are pleased with our results in Q1 with 27% year-over-year growth in revenue, an increase in non-GAAP earnings per share, and a strong backlog. Our high quality and high-performance wireless products are necessary for critical applications that demand reliable connectivity,” said David Neumann, PCTEL’s CEO. “PCTEL has one of the broadest antenna and test and measurement portfolios to serve public safety, wireless carriers, rail, utility, agriculture and government customers. Our products combined with our engineering focus, strong distribution channels, and excellent customer service drive long term growth for all stakeholders.”
CONFERENCE CALL / WEBCAST
PCTEL’s management team will discuss the Company’s results today at 4:30 p.m. ET. The call can be accessed by dialing (877) 545-0523 (United States/Canada) or (973) 528-0016 (International), access code: 880538. The call will also be webcast at https://investor.pctel.com/news-events/webcasts-events.
REPLAY: A replay will be available for two weeks after the call on either the website listed above or by calling (877) 481-4010 (United States/Canada), or (919) 882-2331 (International), access code: 45313.
FTK...Reports next week...The ProFrac deal looks to be final so it will no doubt be an interesting report & cc. (Holding a very strong position in FTK at this time).
We'll see what happens.
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=116686381&type=HTML&symbol=FTK&companyName=Flotek+Industries+Inc.&formType=8-K&formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2022-05-09&CK=928054
CSPI/PCTI...Both will report before tomorrow's open...Both heavy hitters for me. Added a few more CSPI in the high $6's over the past few weeks. Would have liked to add more PCTI in the $3's today but I sold some for a loss a couple weeks back and need to wait out the 31 day rule to buy back in order to use those losses for tax reasons this year. Will be interesting to see if Ukraine/Russia has had an effect on PCTI's business.
Got big positions in both CSPI & PCTI so hoping to be sipping mimosas tomorrow morning.
HSON...ANOTHER strong Q...Hudson Global, Inc. (Nasdaq: HSON) (“Hudson Global” or “the Company”), a leading global total talent solutions company, announced today financial results for the first quarter ended March 31, 2022.
2022 First Quarter Summary
Revenue of $51.9 million increased 50.7% from the first quarter of 2021 and 58.0% in constant currency.
Adjusted net revenue of $25.6 million increased 101.1% from the first quarter of 2021 and 107.1% in constant currency.
Net income increased to $3.0 million, or $0.97 per diluted share, compared to net loss of $0.2 million, or $0.07 per diluted share, for the first quarter of 2021. Adjusted net income per diluted share (non-GAAP measure)* was $1.23 compared to $0.07 in the first quarter of 2021.
Adjusted EBITDA (non-GAAP measure)* was $5.2 million compared to adjusted EBITDA of $0.8 million in the first quarter of 2021.
Total cash including restricted cash was $19.5 million at March 31, 2022.
“Our business exhibited very strong growth in revenue, adjusted net revenue, and adjusted EBITDA across all three regions in the first quarter of 2022 versus the prior year quarter,” said Jeff Eberwein, Chief Executive Officer of Hudson Global. “Coit and Karani, our 2020 and 2021 acquisitions, respectively, have integrated very well and have delivered exceptional results thus far. Globally, the demand for our services remains robust and we expect to continue to deliver strong growth going forward.”
* The Company provides non-GAAP measures as a supplement to financial results based on accounting principles generally accepted in the United States ("GAAP"). Constant currency, adjusted EBITDA, EBITDA, adjusted net income or loss, and adjusted net income or loss per diluted share are defined in the segment tables at the end of this release and a reconciliation of such non-GAAP measures to the most directly comparable GAAP measures is included within such segment tables.
Regional Highlights
All growth rate comparisons are in constant currency.
Americas
In the first quarter of 2022, Americas revenue of $14.6 million increased 220% and adjusted net revenue of $13.7 million increased 226% from the first quarter of 2021. Strong organic growth in the Americas as well as the acquisition of Karani in Q4 2021 contributed to the region's growth. EBITDA increased to $2.4 million in the first quarter of 2022 compared to EBITDA loss of $0.3 million in same period last year. The region recorded adjusted EBITDA of $3.5 million in the first quarter of 2022 compared to adjusted EBITDA of $0.2 million in the same period last year.
Asia Pacific
Asia Pacific revenue of $31.1 million increased 30% and adjusted net revenue of $8.2 million increased 50% in the first quarter of 2022 compared to the same period in 2021. EBITDA was $2.0 million in the first quarter of 2022 compared to EBITDA of $0.8 million in the same period one year ago, and adjusted EBITDA was $2.4 million compared to adjusted EBITDA of $1.1 million in the first quarter of 2021.
Europe
Europe revenue in the first quarter of 2022 increased 40% to $6.2 million and adjusted net revenue of $3.7 million increased 37% from the first quarter of 2021. EBITDA increased slightly to $0.1 million in the first quarter of 2022 compared to EBITDA of $0.1 million in the same period one year ago. Adjusted EBITDA increased to $0.3 million in the first quarter of 2022 compared to adjusted EBITDA of $0.2 million in the first quarter of 2021.
Corporate Costs
In the first quarter of 2022, the Company's corporate costs were $1.0 million compared to $0.8 million in the prior year quarter, mainly due to compensation costs.
Liquidity and Capital Resources
The Company ended the first quarter of 2022 with $19.5 million in cash, including $0.4 million in restricted cash. The Company had negative $2.4 million in cash flow from operations during the first quarter of 2022, roughly unchanged versus the first quarter of 2021.
Share Repurchase Program
Since the beginning of 2019, the Company has reduced its share count by 12% and continues to view share repurchases as an attractive use of capital. Under its $10 million common stock share repurchase program, the Company has $1.7 million remaining.
COVID-19 Update
The Company is vigilantly monitoring the business environment surrounding COVID-19 and continues to proactively address this situation as it evolves. The Company believes it can continue to take appropriate actions to manage the business in this challenging environment due to the flexibility of its workforce and the strength of its balance sheet.
Conference Call/Webcast
The Company will conduct a conference call today at 12:00 p.m. ET to discuss this announcement. Individuals wishing to listen can access the webcast on the investor information section of the Company's web site at hudsonrpo.com.
If you wish to join the conference call, please use the dial-in information below:
Toll-Fee Dial-In Number: (866) 220-5784
International Dial-In Number: (615) 622-8063
Conference ID #: 6679227
The archived call will be available on the investor information section of the Company's web site at hudsonrpo.com.
CSPI...nelson, cash/margins hopefully will be strong with good YoY gains in managed services (Technology Solutions). The fly in the ointment is/has been getting the boards for ARIA.
Not expecting much from E2D planes going forward since it sounds like there is a new radar system replacing the old.
Think CSPI is undervalued trading @ 1.7x cash with no debt so I'm still holding a large position.
Will be interesting to see if they repurchased shares since announcing reactivation of the share repurchase program a few months ago.
WSTG..."One of our strongest quarters of effective margin"...The past 1 1/2 years of acquisitions are paying off bigtime!! Wayside (Climb Channel Solutions) does not need much overhead and basically carries low to no inventory. No to low debt, nice cash, nice margins, ultra-low share count, strong management, and another acquisition expected this year.
Hard to beat (especially with cybersecurity being one of WSTG's top priorities!!
Redefining How People Interact with Technology
Wayside Technology Group bridges the gap between emerging technology manufacturers and the end user that are left unserved by broad distributors. Our specialized focus and size uniquely position us to find disruptive technology vendors and partner with them early, enabling strong organic growth for years ahead.
Wayside Technology Group, Inc. (NASDAQ: WSTG) is a value-added IT distribution and solutions company specializing in emerging and disruptive technologies. Wayside operates across the US, Canada and Europe through multiple business units, including Climb Channel Solutions, Grey Matter and CloudKnowHow. The Company provides IT distribution and solutions for emerging companies in the Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & ALM industries.
WSTG...HUGE Q1 results...Adj EPS = $0.61, NO DEBT...Wayside Technology Group Reports First Quarter 2022 Results
Continued Operating Leverage Drives 79% Increase in Net Income to $2.7 Million or $0.61 per Share; Adjusted EBITDA (non-GAAP) up 61% to $4.2 Million
May 05, 2022 16:05 ET | Source: Wayside Technology Group, Inc.
EATONTOWN, N.J., May 05, 2022 (GLOBE NEWSWIRE) -- Wayside Technology Group, Inc. (NASDAQ: WSTG) (“Wayside” or the “Company”), a value-added global IT channel company providing innovative sales and distribution solutions for emerging technology vendors, is reporting results for the first quarter ended March 31, 2022.
First Quarter 2022 Highlights vs. Same Year-Ago Quarter
Net sales increased 14% to $71.3 million.
Adjusted gross billings (a non-GAAP financial measure defined below) increased 13% to $238.7 million.
Gross profit increased 11% to $12.0 million.
Net income increased 79% to $2.7 million or $0.61 per diluted share.
Adjusted EBITDA (a non-GAAP financial measure defined below) increased 61% to $4.2 million.
Management Commentary
“Our momentum from the end of last year has carried into the first quarter, as reflected by another period of record results and meaningful operating leverage,” said CEO Dale Foster. “Net sales and gross profit were up low double-digits, however net income and adjusted EBITDA increased more than 60%, resulting in one of our strongest quarters of effective margin.
“These results were driven by continued execution of our core initiatives – generating organic growth with existing vendors and customers while adding new emerging vendors to our line card. In Q1, we grew billings with our top 20 vendors by nearly 20% with a 24% increase in the related gross profit, reflecting the strength of relationship with our most meaningful partners.
“As we look to the remainder of the year, we have a solid foundation in place to continue driving organic growth and improve our operating leverage. We also remain active in our M&A strategy as we are evaluating multiple targets that can enhance our geographic footprint, service and solution offerings, and we look forward to delivering on both our organic and inorganic growth objectives in 2022.”
Dividend
Subsequent to the quarter end, on May 3, 2022, Wayside’s board of directors declared a quarterly dividend of $0.17 per share of its common stock payable on May 20, 2022 to shareholders of record on May 16, 2022.
First Quarter 2022 Financial Results
Net sales in the first quarter of 2022 increased 14% to $71.3 million compared to $62.8 million for the same period in 2021. In addition, adjusted gross billings in the first quarter of 2022 increased 13% to $238.7 million compared to $210.9 million for the same period in 2021. This reflects continued organic growth from new and existing vendors.
Gross profit in the first quarter of 2022 increased 11% to $12.0 million compared to $10.8 million for the same period in 2021. The increase in gross profit was driven primarily by organic growth from the top 20 vendors in both the US and Canada, in addition to the onboarding of new vendors.
Total selling, general, and administrative (“SG&A”) expenses in the first quarter of 2022 were $8.6 million compared to $8.8 million for the same period in 2021. SG&A as a percentage of net sales was 12.1% for the first quarter of 2022 compared to 14.0% in the same period in 2021. SG&A as a percentage of adjusted gross billings was 3.6% for the first quarter of 2022 compared to 4.2%.
Net income in the first quarter of 2022 increased 79% to $2.7 million or $0.61 per diluted share, compared to $1.5 million or $0.35 per diluted share for the same period in 2021.
Adjusted EBITDA in the first quarter of 2022 increased 61% to $4.2 million compared to $2.6 million for the same period in 2021. The increase was driven by strong organic growth from new and existing vendors.
Net income as a percentage of gross profit for the first quarter of 2022 was 22.6% compared to 14.0% in the year ago quarter. Effective margin, which is defined as adjusted EBITDA as a percentage of gross profit, increased significantly to 35.5% in the first quarter of 2022 compared to 24.4% for the same period in 2021.
Cash and cash equivalents increased to $37.0 million on March 31, 2022 compared to $29.3 million on December 31, 2021, while working capital increased by $2.2 million during this period. The Company remained debt free on March 31, 2022, with no borrowings outstanding under either its $20 million or £8 million credit facilities.
Conference Call
The Company will conduct a conference call tomorrow, May 6, 2022, at 8:30 a.m. Eastern time to discuss its results for the first quarter ended March 31, 2022.
Wayside management will host the conference call, followed by a question-and-answer period.
FTK...Added more in the $1.20's today taking my average cost into the $1.30's. A 99% done deal on a $200M (avg) a year sales contract w/ Profrac for 10 YEARS ($2B+) w/ 45% manufacturing capacity left over for MORE contracts.
Flotek (FTK) is a steal here for the long term player (IMO).
SD...Nice report...Adj EPS = $0.95...SANDRIDGE ENERGY, INC. ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE THREE MONTH PERIOD ENDED MARCH 31, 2022
Financial Results & Update
Generated Adjusted EBITDA(1) of $39.4 million in the first quarter compared to $37.5 million in the prior quarter
First quarter net income was $34.7 million, or $0.95 per share. Adjusted net income was $34.9 million, or $0.95 per share
First quarter production of 17.8 MBoed compared to Mid-Continent production of 17.5 MBoed in the same period of 2021, despite no drilling or completion activity over the prior twelve months
During the first quarter, the Company proactively procured approximately $4.7 million worth of materials related to its 2022 capital program, helping to mitigate the impacts of inflation for goods and services
As of March 31, 2022, the Company returned 139 wells to production since the beginning of 2021 that were previously curtailed due to the 2020 commodity price downturn
The Company had no open hedge positions as of March 31, 2022
First quarter adjusted G&A(1) of $2.2 million, or $1.35 per Boe, compared to $2.5 million, or $1.46 per Boe in the prior quarter
Financial Results & Update
Profitability & Realized Pricing
For the three-months ended March 31, 2022, the Company reported net income of $34.7 million, or $0.95 per share, and net cash provided by operating activities of $32.2 million. After adjusting for certain items, the Company's adjusted net income(1) amounted to $34.9 million, or $0.95 per share, operating cash flow(2) totaled $39.1 million and adjusted EBITDA(1) was $39.4 million for the quarter. The Company defines and reconciles adjusted net income, operating cash flow, adjusted EBITDA, and other non-GAAP financial measures to the most directly comparable Generally Accepted Accounting Principles in the United States ("GAAP") measure in supporting tables at the conclusion of this press release.
First quarter realized oil, natural gas, and natural gas liquids prices, before the impact of derivatives,(2) were $92.35, $3.84 and $33.73, respectively, compared to $75.72, $3.94 and $28.39 in the prior quarter. The table below compares the Company's first quarter oil and gas realizations to the daily average spot prices for Henry Hub and West Texas Intermediate ("WTI"). Since the end of the first quarter, commodity prices have continued to rise, further boosting the Company's cash flow generation potential.
Operating Costs
During the first quarter of 2022, lease operating expense ("LOE") was $10.9 million or $6.76 per Boe compared to $9.7 million, or $5.74 per Boe in the prior quarter. The increase is primarily due to a higher number of producing wells, higher workover expense associated with our well reactivation program, and higher service and materials costs due to recent inflation.
For the three months ended March 31, 2022, general and administrative expense ("G&A") was $2.5 million, or $1.57 per Boe compared to $2.8 million, or $1.67 per Boe for the three months ended December 31, 2021. Adjusted G&A(1) was $2.2 million, or $1.35 per Boe during the first quarter of 2022 compared to $2.5 million, or $1.46 per Boe during the fourth quarter of 2021.
Operational Results & Update
Production
Production totaled 1,606 MBoe (17.8 MBoed, 13.3% oil, 32.8% NGLs and 53.9% natural gas) for the three-months ended March 31, 2022 compared to 1,574 MBoe (17.5 MBoed, 14.0% oil, 33.1% NGLs, and 52.9% natural gas) of Mid-Continent production in the same period of 2021, representing an increase of approximately two percent despite no new drilling or completion activity over the prior twelve months.
2022 Development Program
During the first quarter, SandRidge proactively procured approximately $4.7 million worth of materials related to its 2022 capital program in order to secure favorable pricing in relationship to the current inflationary environment. Approximately $0.9 million of these costs were recorded as prepaid expenses. All of these expenditures are in line with the annual guidance figures published in conjunction with the announcement of the Company's 2022 capital development program on March 9, 2022.
Well Reactivation & Rod Pump Conversion Program
During the first quarter of 2022, the Company continued returning wells to production that were previously curtailed due to the commodity price downturn in the first half of 2020 and, in many cases, improving their production potential through modest capital improvements. Improved commodity pricing resulting in high rates of return, along with low execution risk, support the Company's belief that these projects represent an efficient use of capital. During the first three months of 2022, the Company brought 10 wells back online, bringing the total since the beginning of 2021 to 139. SandRidge currently expects to return approximately 30 wells to production and complete approximately 35 artificial lift conversions throughout 2022 and continues to evaluate its inventory of such projects.
Environmental, Social, and Governance ("ESG")
SandRidge maintains its Environmental, Social, and Governance ("ESG") commitment, to include no routine flaring of produced natural gas. The Company continues to explore the technical and commercial viability of Carbon Capture, Utilization, and Sequestration ("CCUS") across its owned and operated assets through its partnership with the University of Oklahoma.
Liquidity and Capital Structure
As of March 31, 2022, the Company had $165.8 million of cash and cash equivalents, including restricted cash. The Company has no outstanding term or revolving debt obligations.
Conference Call Information
The Company will host a conference call to discuss these results on Thursday, May 5, 2022 at 10:00 am CT. The conference call can be accessed by registering online at https://conferencingportals.com/event/zyeigzBU at which time registrants will receive dial-in information as well as a conference ID. At the time of the call, participants will dial in using the participant number and conference ID provided upon registration.
A live audio webcast of the conference call will also be available via SandRidge's website, www.sandridgeenergy.com, under Investor Relations/Presentation & Events. The webcast will be archived for replay on the Company's website for 30 days.
SandRidge's current 2022 investor presentation, published on March 9, 2022, can be found on the Company's website at http://investors.sandridgeenergy.com/Investor-Relations/.
FTK...The reverse split is mentioned in the filing...It is on page 37. Not sure where you got 1:10 from, but here is the wording...
ITEM 6: APPROVAL OF REVERSE STOCK SPLIT
Item 6 is to authorize the Company’s Board of Directors, in its sole and absolute discretion and without further stockholder approval, to effect a reverse stock split of our outstanding shares of common stock at a ratio to be determined by the Company’s Board of Directors ranging from a ratio of one to three to a ratio of one to six by amending the Amended and Restated Certificate of Incorporation of the Company at such time and date, if at all, as determined by the Board of Directors in its sole discretion, provided that all fractional shares as a result of the reverse stock split shall be automatically rounded up to the nearest whole share.
The Board of Directors believes that the proposed reverse stock split is desirable to bring the share price of the Company in line with its peers, to avoid future delisting warnings from the NYSE, and to ensure that shares will be available, if needed, for issuance of grants of equity awards, possible acquisitions of companies, products, or technologies, potential business and financial transactions, and other corporate purposes. Our Board of Directors has approved and has recommended that our stockholders approve this Item 6. If the stockholders approve this proposal, the reverse stock split will be effected only upon a determination by the Board of Directors that the reverse stock split is in the best interests of the stockholders at that time. In connection with any determination to effect the reverse stock split, the Board of Directors will set the timing for such a split and select the specific ratio from within the range of ratios set forth herein.
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=116655646&type=HTML&symbol=FTK&companyName=Flotek+Industries+Inc.&formType=DEF+14A&formDescription=Other+definitive+proxy+statements&dateFiled=2022-04-29&CK=928054
FTK...Flotek will (more than likely) remain my #1 energy hold until at least next year (would like to hold for 1yr+ to minimize taxes). Shareholder approval will no doubt solidify the Profrac deal next month.
A reverse-split and 10 years of huge sales increases will follow.
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=116655646&type=HTML&symbol=FTK&companyName=Flotek+Industries+Inc.&formType=DEF+14A&formDescription=Other+definitive+proxy+statements&dateFiled=2022-04-29&CK=928054
We'll see how things look after everything is finalized.
BTW, I've said it before...the kicker is Flotek still has approx 45% capacity left after this approx $200M+ a year contract. That's huge IMO.
SD/SBOW...Guessing SD will probably hit another 52wk high by tomorrow...I'm holding some SBOW also.
WSTG...Infosec Institute, Inc. Approved on Climb Channel Solution’s GSA IT 70 Contract Schedule
New addition will allow resellers to offer Infosec’s products at best and discounted pricing using Climb Channel Solutions’ GSA schedule.
April 28, 2022
EATONTOWN, N.J., April 28, 2022 (GLOBE NEWSWIRE) -- Climb Channel Solutions, a subsidiary of Wayside Technology Group, Inc. (NASDAQ: WSTG) and international value-added distributor for disruptive and emerging technologies, announced today that their vendor partner Infosec, has been approved to be on their GSA IT 70 Contract. Infosec and our resellers will now be able to utilize the GSA schedule to promote and expand their public sector business. This new addition will allow resellers to offer Infosec solutions at discounted pricing using Climb’s GSA schedule.
Infosec is the leading cybersecurity education company and has 17 years of experience and profitability. Infosec focuses on empowering people to be cyber-safe at work and home and help IT and security professionals achieve their career goals. 70% of Fortune 500 companies have trained their staff with Infosec skills. It is the industry’s only security education provider that can deliver a complete portfolio of training solutions — Infosec IQ, Infosec Flex and Infosec Skills — covering everyone in the organization, from IT and security professionals to general staff to the C-suite.
Dale Foster, CEO of Climb Channel Solutions, says, "Infosec empowers people to not only build awareness, but also provides limitless access to cybersecurity courses for office and home. We are pleased that Infosec's offerings are now available to the public sector increasing reseller offerings and enabling more people and business across the nation."
"Infosec is proud to partner with Climb Channel Solutions to bring role-guided cybersecurity training and education solutions to the GSA Schedule,” said Russell McGuire, CRO at Infosec. “With the rise of cyber incidents worldwide, it's more important now than ever that government organizations can upskill their technical teams to mitigate risk and raise awareness among their employees to be cyber safe at work and home."
Infosec is the leading provider of IT security education and workforce security awareness training:
Infosec IQ security awareness training empowers your employees with the knowledge and skills to stay cybersecure at work and at home.
Infosec Flex security and IT boot camps help you pass your certi?cation exam the ?rst time, guaranteed.
Infosec Skills keeps your security skills fresh year-round with over 325 courses mapped to the NICE Cybersecurity Workforce Framework.
Those interested in learning more about our public sector offerings, please visit https://www.climbcs.com/site/content/Climb-Public-Sector-Home or contact Climb by phone at +1.800.847.7078 (US), or by email at GSA@ClimbCS.com.
About Infosec
Infosec has been fighting cybercrime since 2004. Thousands of organizations and over 2.68 million learners trust the wide range of security-specific classes and enterprise security awareness and phishing training to stay a step ahead of the bad guys. Infosec IQ, Infosec Flex and Infosec Skills provide the most advanced and comprehensive education and training platforms. Infosec is recognized as a Leader in the 2019 Gartner Magic Quadrant for Security Awareness Computer-Based Training. Founded by CEO Jack Koziol, Infosec is based in Madison, with offices in Chicago and Dulles, Virginia. Learn more at infosecinstitute.com.
About Climb Channel Solutions and Wayside Technology Group
Climb Channel Solutions is a global specialty IT distributor for emerging technology vendors with solutions for Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud and Software & ALM. Climb provides vendors access to thousands of VARs, MSPs, CSPs and other resellers. Climb holds an IT-70 GSA contract vehicle that provides resellers and vendors with a competitive edge within the Public Sector. Climb is a wholly-owned subsidiary of Wayside Technology Group, Inc. (NASDAQ: WSTG). Read more at www.ClimbCS.com, call 1-800-847-7078, and follow us on LinkedIn.
LOL...I added WSTG today. Earnings cc is scheduled for friday morning May 6th.
WSTG...Datadobi and Climb Channel Solutions Expand Partnership Across EMEA
EMEA Enterprises Now Have Access to the World’s Foremost Unstructured Data Management Solutions from Trusted VARs and MSPs – Significant Digital Transformation Hurdles Eliminated
April 20, 2022
LEUVEN, Belgium--(BUSINESS WIRE)--Datadobi and Climb Channel Solutions today announced that they have expanded their partnership agreement, under which Climb will now offer Datadobi’s world leading unstructured data management solutions to resellers and solution providers across EMEA. In turn, these strategic channel partners, trusted by enterprises across the region, will now have streamlined access to the most innovative, reliable, and cost-effective solutions for moving, managing, and protecting data across heterogeneous on-premises, remote, and cloud environments. As a result, significant digital transformation hurdles will be overcome and eliminated.
Research firm IDC predicts that, over the next five years, more than 80% of the data collected by organizations around the world will be unstructured data, and that will only continue to grow 40-50% per year for most enterprises. In an analyst brief titled, “The Data Mobility Engine as the Foundation for an Efficient Data Management Strategy”* authored by IDC’s Research Vice President of Infrastructure Systems, Platforms and Technologies Group, Eric Burgener, he urges organizations to implement a comprehensive data management strategy to confront this increasing influx of data, noting that a data mobility engine provides the foundation for an effective data management strategy and can drive significant benefits for the hybrid multicloud enterprise.
“Indeed, this is what we are seeing and hearing from our strategic reseller and solution provider partners. Enterprise organizations are facing a multitude of challenges as they work to reign in control of their exponentially growing unstructured data environments. This is particularly true as it pertains to their ability to move their unstructured data to the cloud, be it onsite or a public cloud such as AWS, Azure, and/or Google,” said Jane Silk, Vice President of Distribution, EMEA, Climb Channel Solutions. “With Datadobi, our channel partners can deliver the ideal solution for understanding, moving, optimizing, and protecting NAS and object data across and between any onsite or cloud environment.” She continued, “Moreover, with these added capabilities, as we have already seen happen in the US, our EMEA channel partners will bolster their trusted advisor status, drive additional business opportunities, and dramatically grow their bottom-line.”
“We are delighted to be expanding our presence in the EMEA region with Climb, a channel solutions provider that is synonymous with enabling channel partner success with the most advanced and disruptive technologies,” said Matthias Nijs, Vice President of EMEA Sales, Datadobi. “We look forward to continuing our work together providing VARs and MSPs with the technology, enablement, and support necessary to meet enterprise customer requirements, and in doing so, take their businesses to the next level.”
Under terms of the agreement, Climb channel partners in EMEA will now be able to enhance their invaluable consultative services and IT deployment and management expertise with all of Datadobi’s unstructured data management solutions, including the newly announced StorageMAP. ??Built upon Datadobi’s best-in-class vendor-neutral unstructured data mobility engine, StorageMAP enables enterprises to discover, organize, and take action on unstructured data distributed across onsite, remote, and hybrid cloud environments. In addition, StorageMAP enables organizations to understand and take control of their data’s cost, carbon footprint, risk, and value.
About Climb Channel Solutions
Climb Channel Solutions, a subsidiary of Wayside Technology Group, Inc. (NASDAQ: WSTG), is an international specialty technology distributor focused on emerging technologies. Climb provides partners with access to Security, Data Management, Virtualization and Cloud, Storage and Hyperconverged Infrastructure, Connectivity, and Software and Application Lifecycle products. The company helps vendors recruit, build, and power multinational solution provider networks, and drive sales revenues that complement existing sales channels. Climb services thousands of solution providers, VARs, systems integrators, corporate resellers, and consultants worldwide, helping them power a rich opportunity stream while building profitable businesses.
https://www.businesswire.com/news/home/20220420005229/en/Datadobi-and-Climb-Channel-Solutions-Expand-Partnership-Across-EMEA
FTK...Rolling with the Flo...YEEEE-HAW...Back to $1.45...Up 30% from the bottom 9 days ago. Flotek trading above my average now. NICE!!
If it dips again, I'm prepared to add more.
SD...Nice summery...SD has had very impressive stock gains so far this year. They will be posting some hair-raising results over the next couple quarters. (IMO)
I sold off some SD recently to add more Flotek on the FTK dip last week.
Still hold a decent SD position though.
ISUN...Waiting for the transcript. As of 4/13/22, diluted share count is up approx 2.7x over 12/20. Shareholder equity up approx 8x over the course of 12/20 to 12/21.