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HSON...I'm not in now, but yeah, what a great performer!!!
PCTI...PCTEL Automates Critical Communications Radio Uplink Testing for Building Code Compliance
LAS VEGAS, March 22, 2022--(BUSINESS WIRE)--PCTEL, Inc. (NASDAQ: PCTI), a leading global provider of wireless technology solutions, announced the availability of automated uplink testing, a new feature for the PCTEL® public safety network testing solution that makes it easier to ensure high quality in-building radio coverage for first responders and other critical communications applications.
A reliable uplink signal, or the signal from a handset to the network, is crucial during an emergency in order for first responders to be able to communicate from inside a building. PCTEL’s solution is the first to enable accurate, repeatable indoor uplink testing while eliminating the need for a second technician to receive test calls. The initial release supports uplink signal quality measurements on P25 public safety radio networks in addition to uplink channel power measurements for other Land Mobile Radio (LMR) technologies.
"Automated uplink testing is the most commonly requested feature by our public safety testing customers, including radio solutions providers for private critical communications networks," said Arnt Arvik, PCTEL's Chief Sales Officer. "Now that an efficient, accurate, and repeatable uplink testing solution is available, we also expect more jurisdictions to incorporate uplink testing into their requirements."
Uplink testing is included in NFPA (National Fire Protection Association) and IFC (International Fire Code) standards. However, it is often unenforced under local codes due to the difficulty and unreliability of manual testing using the traditional Delivered Audio Quality (DAQ) method.
Whereas DAQ testing requires two testers who subjectively grade voice quality, a single person can use PCTEL’s solution to quickly and objectively measure both the uplink and downlink signals throughout a building. With PCTEL’s solution, a second public safety testing solution kit is placed at the radio site prior to testing and operates without a technician being present. After the walk test of the building is complete, PCTEL’s SeeHawk® Touch software automatically synchronizes uplink measurements from this second public safety testing solution to produce a single report that includes both uplink and downlink test results.
With the recent additions of both uplink and commissioning tests, PCTEL now offers the most complete automated testing solution for in-building radio solution deployment and local code compliance.
PCTEL also recently launched the SeeHawk™ Central cloud platform, further streamlining the reporting process while enabling easy collaboration and access to historical data for testers, building owners, local jurisdictions, and other interested parties.
PCTEL will demonstrate the public safety network testing solution and SeeHawk™ Central platform along with its other solutions for the critical communications industry at IWCE in Las Vegas, March 23-24 at booth #2632.
CXDO...Good point. lol. Who knows what tomorrow will bring. As much as I'd like to see it go up, I won't be surprised if it dips. You never know though.
Again, the CEO has bought a lot of shares at higher prices.
We'll see what happens.
CXDO...Not too shabby but was hoping for more EPS. The insider buying is what initially attracted me. Listening to the cc now. Talking about 40% - 50% yearly growth. Not sure if that is fully organic? Backlog is up 46% YoY to $41.7M
NSYS...At a quick glance, looks like a loss after the PPP loan forgiveness gain...Nortech Systems Announces 2021 Fourth Quarter and Full Year Results
MINNEAPOLIS--(BUSINESS WIRE)-- Nortech Systems Incorporated (Nasdaq: NSYS) (the "Company"), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving medical, industrial and defense markets, reported 2021 fourth quarter and full year results for the year ended December 31, 2021.
2021 Fourth Quarter and Full Year Highlights
Fourth quarter revenue up more than 40 percent from prior year.
Full year revenue of $115.2 million, up nearly 11% from 2020.
Net income of $7.2 million, up from of a net loss of $1.5 million in the prior year.
Year-end backlog of $95 million, up over 50 percent from 2020.
Completed extension of the Bank of America $16 million credit facility in December 2021.
Management Commentary
“Our entire Nortech team deserves enormous credit for their commitment to delivering mission-critical solutions for our customers despite ongoing Covid concerns and significant supply chain disruptions,” said Jay D. Miller, Chief Executive Officer and President.
“In 2021 we made progress on several important fronts. We strengthened our balance sheet, extended our Bank of America agreement until 2026, restored revenue growth, and improved gross margins. We tightened our focus on operational excellence and innovation for our customers,” Miller added.
“Creating shareholder value remains a top priority; we believe this is best accomplished by creating value for our diverse customer base. In today’s problematic supply chain environment, our current and new customers increasingly recognize and appreciate Nortech as a key long-term partner offering complete fulfillment solutions. We believe that creating efficiencies for our customers and deepening these relationships will further improve Nortech’s revenue, gross margin, and operating cash flow.”
In the fourth quarter of 2021, revenue totaled $33.5 million. This represents a 40.3% increase from revenue of $23.8 million in the fourth quarter of 2020. For the full year 2021, revenue totaled $115.2 million. This represents a 10.6% increase from revenue of $104.1 million in 2020.
In the fourth quarter of 2021, gross profit totaled $2.7 million, or 8.0%, compared to gross profit of $1.7 million, or 7.3%, in the prior-year quarter. For the full year 2021, gross profit totaled $15.9 million, or 13.8%, compared to a gross profit of $9.7 million, or 9.3%, in the prior year. Full year 2021 gross profit included $4.7 million in CARES Act Employee Retention Credits (ERC). Net of the ERC, full year 2021 gross profit would have totaled $11.2 million or 9.7%.
Net income totaled $5.0 million, or $1.76 per diluted share, in the fourth quarter of 2021, up from a net loss of $3.5 million, or $1.33 per basic share, in the prior-year quarter. In the fourth quarter of 2021 Nortech recognized a non-cash gain of $6.2 million related to PPP loan forgiveness. For the full year 2021, net income totaled $7.2 million, or $2.54 per diluted share, up from a net loss of $1.5 million, or $0.58 per diluted share, in the prior year.
Business Outlook
“We believe our results for 2021 provide a great springboard for 2022,” continued Jay Miller. “For the remainder of this year, we will continue to focus on managing supply-chain disruptions and related cost challenges that our customers are experiencing.” Miller added that rising material and labor costs continue to be the large issues facing the Company. A January 2022 report by the global trade organization IPC found that 90 percent of electronics manufacturers report rising material costs and over 75 percent report rising labor costs.
“In this current environment, our partnerships with customers run much deeper than purchase orders,” concluded Miller. “In tandem with our customers, we are leveraging our decades of technical expertise to develop innovative proprietary technologies for manufacturing methods and products.”
Conference Call
The Company will hold a live conference call and webcast at 4:00 p.m. central time on Monday, March 21, 2022, to discuss the company's fourth quarter financial results. The call will be hosted by Jay Miller, Chief Executive Officer and Chris Jones, Chief Financial Officer. To access the live audio conference call, U.S. participants may call 888-506-0062 and international participants may call 973-528-0011. Participant Access Code: 551424. Participants may also access the call via webcast at: https://www.webcaster4.com/Webcast/Page/2814/44766.
About Nortech Systems Incorporated
Nortech Systems Incorporated is a leading provider of design and manufacturing solutions for complex electromedical devices, electromechanical systems, assemblies, and components. Nortech Systems primarily serves the medical, defense, and industrial markets. Its design services span concept development to commercial design, and include medical device, software, electrical, mechanical, and biomedical engineering. Its manufacturing and supply chain capabilities are vertically integrated around wire/cable/interconnect assemblies, printed circuit board assemblies, as well as system-level assembly, integration, and final test. Headquartered in Maple Grove, Minn., Nortech currently has seven manufacturing locations and design centers across the U.S., Latin America, and Asia. Nortech Systems is traded on the NASDAQ Stock Market under the symbol NSYS. Nortech's website is www.nortechsys.com.
CXDO...Crexendo Announces Fourth Quarter and Year Ended December 31, 2021 Results
PHOENIX, AZ / ACCESSWIRE / March 21, 2022 / Crexendo, Inc. (NASDAQ:CXDO) is an award-winning premier provider of Unified Communications as a Service (UCaaS), Call Center as a Service (CCaaS), communication platform software solutions, and collaboration services designed to provide enterprise-class cloud communication solutions to any size business through our business partners, agents, and direct channels. Our solutions currently support over two million end users globally and was recently recognized as the fastest growing UCaaS platform in the United States. Today, the Company reported financial results for the fourth quarter and full year ended December 31, 2021.
Fourth Quarter and Year End Financial highlights:
Q4 Revenue increased 108% to $9.0 million
2021 Total revenue increased 71% year-over-year to $28.1 million.
Q4 Non-GAAP net income of $592,000 and GAAP net loss of $(602,000).
2021 Non-GAAP net income of $1.7 million and GAAP net loss of $(2.4 million).
Financial Results for the Fourth Quarter of 2021
Consolidated total revenue for the fourth quarter of 2021 increased 108% to $9 million compared to $4.3 million for the fourth quarter of 2020.
Consolidated service revenue for the fourth quarter of 2021 increased 14% to $4.3 million compared to $3.8 million for the fourth quarter of 2020.
Consolidated software solutions revenue for the fourth quarter of 2021 of $3.9 million compared to $0 for the fourth quarter of 2020.
Consolidated product revenue for the fourth quarter of 2021 increased 55% to $815,000 compared to $526,000 for the fourth quarter of 2020.
Consolidated operating expenses for the fourth quarter of 2021 increased 133% to $9.8 million compared to $4.2 million for the fourth quarter of 2020. Acquisitions contributed $4.6 million of the additional operating expenses.
The Company reported net loss of $(602,000) for the fourth quarter of 2021, or $(0.03) loss per basic and diluted common share, compared to $7,161,000 of net income, or $0.40 per basic common share and $0.37 per diluted common share for the fourth quarter of 2020 due to the release of our valuation allowance.
Non-GAAP net income of $592,000 for the fourth quarter of 2021, or $0.03 per basic common share and $0.02 per diluted common share, compared to non-GAAP net income of $7,430,000 or $0.42 per basic common share and $0.39 per diluted common share for the fourth quarter of 2020 due to the release of our valuation allowance.
EBITDA for the fourth quarter of 2021 decreased to a $(102,000) loss, compared to $185,000 for the fourth quarter of 2020. Adjusted EBITDA for the fourth quarter of 2021 increased to $474,000, compared to $431,000 for the fourth quarter of 2020.
Financial Results for the Year ended December 31, 2021
Consolidated total revenue for the year ended December 31, 2021 increased 71% to $28.1 million compared to $16.3 million for the year ended December 31, 2020.
Consolidated service revenue for the year ended December 31, 2021 increased 18% to $17.1 million compared to $14.5 million for the year ended December 31, 2020.
Consolidated software solutions revenue for the year ended December 31, 2021 of $8.7 million compared to $0 for the year ended December 31, 2020. Software solutions revenue represents revenue from the NetSapiens business combination from the acquisition date of June 1, 2021.
Consolidated product revenue for the year ended December 31, 2021 increased 26% to $2.3 million compared to $1.8 million for the year ended December 31, 2020.
Consolidated operating expenses for the Year ended December 31, 2021 increased 101% to $30.9 million compared to $15.4 million for the year ended December 31, 2020. Acquisitions contributed $11.2 million of the additional operating expenses. Additionally, during the year ended December 31, 2021, we incurred $1.0 million of acquisition related general and administrative expenses.
The Company reported a net loss of $(2.4) million for the year ended December 31, 2021, or a $(0.12) loss per basic and diluted common share, compared to $7.9 million net income, or $0.50 per basic common share and $0.46 per diluted common share for the year ended December 31, 2020.
Non-GAAP net income of $1.7 million for the year ended December 31, 2021, or $0.09 per basic common share and $0.07 per diluted common share, compared to a non-GAAP net income of $8.7 million or $0.55 per basic common share and $0.50 per diluted common share for the year ended December 31, 2020.
EBITDA for the Year ended December 31, 2021 decreased to a $(1.2) million loss, compared to $1.2 million in earnings for the year ended December 31, 2020. Adjusted EBITDA for the year ended December 31, 2021 decreased to $1.6 million, compared to $1.9 million for the year ended December 31, 2020.
Total cash, cash equivalents, and restricted cash at December 31, 2021 was $7.5 million compared to $17.7 million at December 31, 2020.
Cash used for operating activities for the Year ended December 31, 2021 of $(1.0) million compared to $647,000 provided by operating activities for the year ended December 31, 2020. Cash used for investing activities for the year ended December 31, 2021 of $(9.9) million compared to $(921,000) used for the year ended December 31, 2020. Cash provided by financing activities for the year ended December 31, 2021 of $650,000 compared to $13.7 million for the year ended December 31, 2020.
Steven G. Mihaylo, Chief Executive Officer commented, “The results we announced today were excellent. Our ability to execute on our plan and grow the business is due to the hard work and commitment of our entire team. Our employees come to work every day with a passion for their jobs and to provide the best service and benefits to our customers and our shareholders. The fourth quarter and year end results support my confidence in our ability to execute on our long-term strategic plan. We have met every milestone that I have committed to including now doing a superb job of consolidating operations. Our entire team has worked tirelessly to make operational and structural improvements and the combined post-merger operation is going to provide substantial benefits to our customers and shareholders. One such example, of many, is the Crexendo VIP™ platform powered by the award winning NetSapiens technology which is the top in the business that provides what I am convinced are the best benefits in the industry as well as the best support package offered which includes our 100% uptime guarantee. VIP™ shows that our combined operations are capable of having the dual benefit of reducing our expenses while allowing us to improve service to both the telecom and software solutions customers. This type of collaboration is only the beginning, and I am convinced the merger will continue to provide substantial customer and shareholder benefits.”
Mihaylo added, “I am very excited with our results, consolidated total revenue for the fourth quarter increasing 108% is a major milestone, I am also highly impressed that 2021 total revenue increased 71% year-over-year to $28.1 million. This is a very exciting metric, and I am convinced that this is only the beginning. With that said we are diligently working on improving margins by increasing efficiencies, targeting expenses and implementing price increases. I fully believe that we will continue to grow the business both organically as well as through additional accretive acquisitions. My expectation of growing the business by 40% to 50% has not changed. I have never been more excited about the future for Crexendo, our customers, our employees, and our shareholders.”
Doug Gaylor, President, and Chief Operating Officer, stated, “I agree with Steve that our results of the combined organization have been great. I am particularly gratified that we have met all the milestones we had committed to including integrating last year’s major acquisition of NetSapiens. We are operating as one team with one commitment to our customers, employees, and shareholders. While I am pleased with our progress, I know we have much more that we can and will accomplish. The results were exciting, but we are not resting on our laurels, we have recently announced partnerships with multiple Master Agents as well as our recently announced partnership with Mavenir. We will continue to work on these types of relationships which I believe will help fuel our future growth. We will also work on aggressively growing the business organically and inorganically. I couldn’t be more excited about our opportunity for continued growth and success in the future.”
Conference Call
The Company is hosting a conference call today, March 21, 2022, at 4:30 PM EDT. The dial-in number for domestic participants is 877-545-0320 and 973-528-0002 for international participants. Please dial in five minutes prior to the beginning of the call at 4:30 PM EDT and reference Crexendo earnings call. A replay of the call will be available until March 28, 2022, by dialing toll-free at 877-481-4010 or 919-882-2331 for international callers. The replay passcode is 44837.
NSYS...Reports today after the close.
CXDO...Today's earnings watch...Crexendo reports after the close...This was taken from their latest cc regarding lat Q's numbers...
- "I think that we are the best kept secret in the technology play.
I think these earnings speak for themselves on what the opportunity is ahead for us. And we're excited to get that message out there to the investment community."
Anyway, over the past couple weeks I was able to add in the $3's and drop my avg below $4. Also, CEO has bought a shitload of stock over the past couple months.
We'll see what happens...
Crexendo Inc, is an award-winning premier provider of cloud communications, UCaaS (Unified Communications as a Service), call center, collaboration services, and other cloud business services that are designed to provide enterprise-class cloud services to any size business at affordable monthly rates. Crexendo is a technology growth leader in the UCaaS (Unified Communications as a Service) space, providing hosted telecommunications services for a variety of markets. We provide award-winning, patented, cost-effective business communications solutions developed in-house with premier 1st party customer support.
This enables us to remain responsive, agile, and disruptive in the competitive market of telecommunications providers. Our technology allows small, medium, and small enterprise-sized businesses to fully mobilize their workforce with enterprise-grade solutions that work seamlessly across multiple devices (phone, laptop, pc/Mac, tablet, iOS, and Android devices) to ensure they are connected across all locations and always available. All this at a greatly reduced cost compared to traditional, premise-based business communications solutions.
https://www.crexendo.com/why-crexendo/for-investors/
FTK...Inching back up from the drop to the $1.30's...Accumulated quite a bit below $1.50. Now trading above my avg.
I like FTK and plan on holding as the ProFrac agreement plays out.
SD..."As of March 7, 2022, the company's cash on hand, including restricted cash, was approximately $161 million."
$4.37 per share in cash and NO debt.
Trading @ approx 3.8x cash.
Impressive.
HSON...Yea, thanks. Nice. Excellent Q and strong forward looking statements..."Our sales activity levels and pipeline remain exceptionally robust and I continue to be encouraged by the increasing level of collaboration across our teams globally. Our technology team and 2020 acquisition, Coit Group, significantly outperformed our expectations in 2021 and has flourished inside of Hudson RPO. I am also pleased with the progress we have been making with the integration of Karani, our recent 2021 acquisition, and continue to be very excited about its growth potential as part of Hudson RPO.”
HSON...Adj Q4 EPS = $1.02...Hudson Global Reports 2021 Fourth Quarter and Full-Year Results
OLD GREENWICH, Conn., March 11, 2022 (GLOBE NEWSWIRE) -- Hudson Global, Inc. (Nasdaq: HSON), a leading global talent solutions company, announced today financial results for the fourth quarter and full year ended December 31, 2021.
2021 Fourth Quarter Summary
Revenue of $50.1 million increased 83.2% from the fourth quarter of 2020, or 82.9% in constant currency.
Adjusted net revenue of $22.3 million increased 97.8% from the fourth quarter of 2020, or 97.1% in constant currency.
Net income of $2.1 million, or $0.70 per basic and $0.67 per diluted share, versus net income of $1.2 million, or $0.41 per basic and diluted share, in the fourth quarter of 2020. Adjusted net income per diluted share (Non-GAAP measure)* increased to $1.02 from adjusted net income per diluted share of $0.20 in the fourth quarter of 2020.
Adjusted EBITDA (Non-GAAP measure)* increased to $4.6 million, versus adjusted EBITDA of $0.7 million in the fourth quarter of 2020.
2021 Full-Year Summary
Revenue of $169.2 million increased 66.8% from 2020, or 55.5% in constant currency.
Adjusted net revenue of $68.2 million increased 74.4% from 2020, or 65.4% in constant currency.
Net income of $3.2 million, or $1.11 per basic and $1.07 per diluted share, compared to net loss of $1.2 million, or $0.43 per basic and diluted share, in 2020. Adjusted net income per diluted share (Non-GAAP measure)* of $2.04 increased from adjusted net loss per diluted share of $0.38 in the prior year.
Adjusted EBITDA (Non-GAAP measure)* was $10.0 million, versus adjusted EBITDA loss of $0.4 million in 2020.
“2021 was a tremendous year for our business globally,” said Jeff Eberwein, Chief Executive Officer at Hudson Global. “Our entire team generated very strong growth in revenue, adjusted net revenue, and adjusted EBITDA for the fourth quarter and full year. Our sales activity levels and pipeline remain exceptionally robust and I continue to be encouraged by the increasing level of collaboration across our teams globally. Our technology team and 2020 acquisition, Coit Group, significantly outperformed our expectations in 2021 and has flourished inside of Hudson RPO. I am also pleased with the progress we have been making with the integration of Karani, our recent 2021 acquisition, and continue to be very excited about its growth potential as part of Hudson RPO.”
* 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, 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
Asia Pacific
Asia Pacific revenue of $32.2 million increased 61% and adjusted net revenue of $8.0 million increased 46% in constant currency in the fourth quarter of 2021 compared to the same period in 2020. EBITDA was $1.9 million in the fourth quarter of 2021 compared to EBITDA of $1.0 million a year ago. Asia Pacific delivered adjusted EBITDA of $2.4 million in the fourth quarter of 2021 versus adjusted EBITDA of $1.5 million in the fourth quarter of 2020.
For full year 2021, Asia Pacific revenue of $118.6 million increased 45% and adjusted net revenue of $28.6 million increased 34% in constant currency compared to 2020. EBITDA for full year 2021 was $5.5 million, compared to EBITDA of $2.9 million in 2020. Adjusted EBITDA for full year 2021 was $7.2 million versus $3.9 million in 2020.
Americas
In the fourth quarter of 2021, Americas revenue of $11.4 million increased 222% and adjusted net revenue of $10.9 million increased 242% in constant currency compared to the fourth quarter of 2020. EBITDA was $1.6 million in the fourth quarter of 2021 compared to EBITDA of $0.7 million in same period last year. Adjusted EBITDA was $2.7 million for the fourth quarter of 2021 compared to adjusted EBITDA loss of $0.1 million a year ago.
For full year 2021, Americas revenue of $28.8 million increased 163% and adjusted net revenue of $27.1 million increased 180% in constant currency from 2020. EBITDA was $1.8 million for full year 2021 compared to EBITDA loss of $1.0 million in 2020. Adjusted EBITDA was $4.7 million for full year 2021 compared to adjusted EBITDA loss of $1.4 million in 2020.
Europe
Europe revenue of $6.4 million increased 66% and adjusted net revenue of $3.5 million increased 30% in constant currency in the fourth quarter of 2021 compared to the fourth quarter of 2020. EBITDA was $0.4 million in the fourth quarter of 2021, compared to EBITDA of $0.2 million in the same period one year ago. Adjusted EBITDA was $0.5 million in the fourth quarter of 2021 compared to $0.2 million a year ago.
For full year 2021, Europe revenue of $21.8 million increased 37% and adjusted net revenue of $12.5 million increased 22% in constant currency compared to 2020. EBITDA was $1.0 million for full year 2021 compared to $0.5 million in 2020. Adjusted EBITDA was $1.6 million for full year 2021 compared to adjusted EBITDA of $0.4 million in 2020.
Corporate Costs
The Company's corporate costs of $0.9 million and $3.4 million for the fourth quarter and year ended 2021 excluded $0.3 million and $0.6 million of non-recurring expenses, respectively. This compares to corporate costs of $0.8 million and $3.3 million for the fourth quarter and year ended 2020, which excluded $0.3 million and $0.8 million of non-recurring expenses, respectively.
Liquidity and Capital Resources
The Company ended the fourth quarter of 2021 with $22.1 million in cash, including $0.4 million in restricted cash. The Company generated $1.7 million in cash flow from operations in the fourth quarter of 2021 compared to an outflow $0.1 million in the fourth quarter of 2020. For the full year, the company generated $2.5 million in cash flow from operations compared to using $1.4 million a year ago.
Share Repurchase Program
The Company has reduced its share count by 15% since December 31, 2018 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.
NOL Carryforward
Hudson Global has $312 million of usable net operating losses (“NOL”) in the U.S., which the Company considers to be a very valuable asset for its stockholders. In order to protect the value of the NOL for all stockholders, the Company has a rights agreement and charter amendment in place that limit beneficial ownership of Hudson Global common stock to 4.99%. Stockholders who wish to own more than 4.99% of Hudson Global common stock, or who already own more than 4.99% of Hudson Global common stock and wish to buy more, may only acquire additional shares with the Board’s prior written approval.
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.
FTK...So based on your 150M diluted shares once the deal is finalized, a $2 share price would equal $300M market cap. Seems awful low for $2B+ in backlog. If this is correct, I don't see much (if any) downside.
But you never know.
I'll relook at things this weekend.
Another plus is O&G is a strong sector right now and should remain strong for quite some time.
FTK...Thanks for your thoughts gilead. Going to re-look at the slides and re-listen to the cc tomorrow, but like I said I am not an expert on this.
The words "Massive opportunity" came from the cc.
But damn, $220M in profitable yearly revenue for years to come w/o having to expand their facilities sounds huge to me. Plus organic growth.
At current share price, I don't really have any big concerns. Think it's worth a hold just based on the focus and excitement in the call. They will talk more on the deal in their Q4/YE call.
Anyway, I could swear they said G&A should be less than 10% of revenue, but I'll go back and re-listen. Not sure if shipping is included.
Also, not sure on what the exact dilutive share count will be.
FTK...Wow, Good cc today!! "Massive opportunity"...Have a listen...
https://www.webcaster4.com/Webcast/Page/934/44725
The proposed amended deal raises Flotek's yearly 10yr backlog revenue to $217M+ a year. It's non-exclusive meaning Flotek can work w/ other interested companies.
Lots of opportunity in organic growth also.
Should have industry leading margins.
The deal will take Flotek where G&A is less than 10% of revenue.
Will not need to build any additional facilities.
I believe ProFac will control approx 40% of Flotek.
Not an expert here, but this sounds like a great deal. Going to re-listen to the call later.
Stock closed @ $1.78 and is currently up a notch AH's
CXDO...Crexendo Partners with Mavenir to Allow Both Companies to Expand Their Business Communications Offerings
PHOENIX, AZ / ACCESSWIRE / March 10, 2022 / Crexendo, Inc. (NASDAQ:CXDO) is an award-winning premier provider of Unified Communications as a Service (UCaaS), Call Center as a Service (CCaaS), communication platform software solutions, and collaboration services designed to provide enterprise-class cloud communication solutions to any size business through our business partners, agents, and direct channels. Crexendo solutions currently support over two million end users globally and was recently recognized as the fastest growing UCaaS platform in the United States.
Crexendo announced today a strategic partnership with Mavenir that provides both companies with an expanded portfolio of business services and advanced capabilities and enables each to address Unified Communications as a Service (UCaaS) and business messaging market growth. The parties have agreed that Mavenir will integrate Crexendo's Unified Communication as a Service (UCaaS) with the Mavenir Connect brand and Crexendo will integrate Mavenir's Contact Center as a Service (CCaaS) and omni-channel customer engagement, chatbots and automations.
Mavenir Connect will leverage Crexendo's technology to deliver a proven UCaaS solution for customers who are looking for industry leading, mobile-friendly, cloud-based unified communications capabilities that are cost effective, easy to deploy and consume, improve employee productivity and increase customer engagement. Crexendo, with Mavenir's CCaaS offerings, will expand its contact center portfolio with omni-channel capabilities including text, chat and e-mail that are in high demand in the mid-size and enterprise level markets.
Steven G. Mihaylo, Chief Executive Officer commented, "This is a major milestone for us. We merged with NetSapiens being convinced that we could monetize their award-winning solutions in an effective manner that would provide substantial shareholder value. That Mavenir shares our view in the benefits of our solutions and will now be offering them to their customers is confirmation of our belief. Mavenir is the ideal partner to help meet Crexendo's objectives and long-term growth initiatives as a leading choice for channel partners and service providers, increasing the number of opportunities to profit from the UCaaS, CCaaS and business messaging market expansion."
Jorgen Nilsson, President, Enterprise Connect Business, Mavenir stated "The collaboration with Crexendo accelerates Mavenir's growth in the UCaaS space. By allowing both companies to focus their efforts and investments on what each company does best, business customers benefit from a full portfolio of communications solutions with faster innovation, omnichannel customer engagement, extensive API-based programmability, commercial flexibility and a large number of out-of-the-box integrations."
Bryan Dancer, CEO of Allegiant Technology, a Crexendo and Mavenir Partner, said, "We chose the combined Mavenir-Crexendo solution because it has enabled us to deliver the value, flexibility and support our clients expect that is largely unavailable from the larger players in the market. This new collaboration will provide service provider organizations like us with an even more seamless, disruptive, and integrated offer."
About Mavenir
Mavenir is building the future of networks and pioneering advanced technology, focusing on the vision of a single, software-based automated network that runs on any cloud. As the industry's only end-to-end, cloud-native network software provider, Mavenir is focused on transforming the way the world connects, accelerating software network transformation for 250+ Communications Service Providers and Enterprises in over 120 countries, which serve more than 50% of the world's subscribers.
About Crexendo
Crexendo, Inc. is an award-winning premier provider of Unified Communications as a Service (UCaaS), Call Center as a Service (CCaaS), communication platform software solutions, and collaboration services designed to provide enterprise-class cloud communication solutions to any size business through our business partners, agents, and direct channels. Our solutions currently support over 2 Million end users globally and was recently recognized as the fastest growing UCaaS platform in the United States
https://finance.yahoo.com/news/crexendo-partners-mavenir-allow-both-140000443.html
SD...Earnings out. Nice...Q4 Adj EPS = $0.90. Adj FY2021 EPS = $2.65. Strong cash.
https://ih.advfn.com/stock-market/NYSE/sandridge-energy-SD/stock-news/87508330/sandridge-energy-inc-announces-financial-and-ope
ATGN...bilndman, I bought AGEN today @ avg $1.01...They announced an acquisition and I caught part of the cc. Sounded pretty promising. Should have more info within a couple weeks. I don't usually buy otcbb stocks, but thought I would give Atigen a shot. Will do more DD tonight and go from there. Do you still own it or follow it? Any plans of an uplisting that you know of?
CSPI... Now back in the $8s. Nice little jolt on volume this afternoon.
FTK...$1.94 +17%...NICE !
SD...I have no idea...But comparing the NG chart from a year ago, I'm guessing tomorrow they will report good earnings and their Q1 should be good also. And at this rate, the rest of the year should follow.
Time will tell.
SD...And here is what could be a huge big plus for SD in this kind of environment...
The Company remains unhedged from March of 2022 forward.
And they are debt free.
Earnings tomorrow. We'll see how things look.
WSTG...Climb Channel Solutions Offers Supply Chain Intelligence with the Sonatype Nexus Platform
EATONTOWN, N.J., March 07, 2022 (GLOBE NEWSWIRE) -- Climb Channel Solutions, an international specialty technology distributor and wholly-owned subsidiary of Wayside Technology Group, Inc. (NASDAQ: WSTG), announced a new partnership today with Sonatype, the pioneer in software supply chain management, to expand their resellers’ DevSecOps offerings.
As every company relies more on software to fuel digital transformation, the world is putting more pressure on engineering teams to deliver applications faster and more securely. To innovate at scale, open source code must also be managed and secured at scale. The addition of the Nexus platform by Sonatype, gives Climb customers accurate, precise and relevant intelligence they need to create and maintain software, empowering them to develop and fix applications faster and securely. Only the Nexus platform allows engineering teams to manage software quality and governance using a single control plane.
“Climb is eager to have Sonatype on our roster of DevSecOps solutions,” said Dale Foster, CEO of Climb Channel Solutions. “Customers equipped with their Nexus products will be able to manage open source security risks without compromising innovation and scale. We want to enable partners to take full advantage of the best that open source has to offer without the risk and with Sonatype we can deliver a solution that does just that.”
“With information on nearly 115M open source components, Sonatype enables partners to protect global enterprises and identify and mitigate vulnerabilities better than anyone else," said Wai Man Yau, General Manager, International, Sonatype. "Through our partnership with SVA System Vertrieb Alexander GmbH, we'll be able to bring this intelligence to even more organizations and further enhance DevSecOps and open-source governance, providing customers with the continued automated security features they need to build secure software."
“We’re constantly evolving our products to meet the needs of growing engineering teams and pushing the boundaries of what’s possible,” said Brian Fox, CTO and co-founder of Sonatype. “Our products don't just help push security or put security in the hands of the developer. What we are truly trying to do is make the lives of developers and every member of an engineering and security team, a little easier.”
https://finance.yahoo.com/news/climb-channel-solutions-offers-supply-151900134.html
SD, SBOW, FTK...All doing well pre-market. Nice start to the day.
SD...Earnings after the close next Wednesday.
https://finance.yahoo.com/news/sandridge-energy-inc-announces-fourth-221600094.html
SBOW...Starting to go...!!
FTK...+10% today. Cc to discuss recently awarded $1B+ LT contract is next Thursday...
https://finance.yahoo.com/news/flotek-announces-conference-call-discuss-120500443.html
SD...$15.15. Nice.
WSTG...From the cc...Wayside is actively pursuing acquisitions for 2022. An acquisition is front of mind for all management.
Also, they have very little business in Russia and put a hold on it.
DF said there are great growth opportunities that WSTG will capitalize on in 2022.
SBOW...Stuck my toe in the water.
SBOW...researcher, I looked at SBOW this morning. What did you think of their earnings report?
HSON...$33.76..52wk high. This thing can really move on low volume.
SD...Fuel-Starved Europe Offers Push Needed for U.S. Gas Projects
Wed, March 2, 2022
(Bloomberg) -- The threat of supply disruptions in Europe, along with Germany’s pledge to build two new fuel-import terminals, could be the push U.S. developers need to move forward with the nearly dozen proposed liquefied natural gas projects.
Europe was already fuel-starved, and the war in Ukraine is compounding the strain. Shell Plc and U.K. energy supplier Centrica Plc are among companies saying they’ll exit Russian gas-supply agreements or ventures, helping send natural gas prices surging 60% to a fresh record on Wednesday in one of the most dramatic examples of the fallout rippling through commodity markets from the war in Ukraine.
The jump in gas prices comes even with LNG producers in the U.S., the world’s biggest exporter, running flat out and sending flotillas of cargoes to Europe through this winter. The crisis, along with German Chancellor Olaf Scholz’s comments that Germany would move quickly to build two LNG terminals to cut dependence on Russian gas, could help spur financing and approval decisions for U.S. LNG developers.
Germany’s decision “is a complete game changer,” said Fred Hutchison, chief executive officer of the Washington-based trade association LNG Allies. “We’ve been working with various parties in Germany on that issue since at least 2018. The problem, if there is one, is that building terminals to receive more U.S. LNG is meaningless if there isn’t more U.S. LNG.”
Price disparities between North America and Europe show how natural gas in the U.S. is still largely locked in with exports maxed out. U.S. natural gas futures have risen about 4% over the past week, while gas in Europe has surged more than 80%.
In the Works
There are almost a dozen U.S. LNG export projects that hold federal permits but lack enough contracts to finance the billions of dollars of construction.
Citigroup Inc analysts listed expansions at Corpus Christi LNG, Freeport LNG and Cameron LNG as the most likely to succeed, along with new construction such as Plaquemines LNG, Driftwood LNG and Rio Grande LNG. Their combined capacity of 66 million tons is more than 15% of the current global LNG market, and would be enough to displace 40% of the amount of natural gas Russia sold to Europe in 2019.
Corpus Christi Stage III is expected to reach a final investment decision this summer. Cameron Train 4 is projected to be complete third quarter 2027 and still needs a regulatory permit, contracts and a final investment decision. Freeport LNG Train 4 has a FERC permit but needs offtake agreements and a final investment decision.
European demand and growing production capacity helped make the U.S. the world’s top LNG supplier for the past three months. Out of about five dozen U.S. LNG cargoes currently on the water, nearly two-thirds are headed to Europe. The group included a shipment from Venture Global LNG’s newly built Calcasieu Pass export terminal in Louisiana, which sent out its first cargo early Tuesday.
Given the growing demand in Europe, the natural gas industry and LNG developers are putting pressure on the Biden administration to speed the permitting and approval process for export projects and to remove barriers to domestic production and pipeline projects.
“It’s disappointment that we as a country have not been able to get more LNG facilities built,” said Rick Muncrief, chief executive officer of shale explorer Devon Energy Corp.
The anticipated completion of Calcasieu Pass this summer is expected to raise the amount of natural gas being converted to LNG to a peak of 13.9 billion cubic feet per day, or roughly 15% of domestic natural gas production.
Also in the works is Golden Pass LNG, a joint venture in Texas between Exxon Mobil Corp. and Qatar Energy that’s expected to be completed in 2024.
With global natural gas demand increasing faster than supply, the outlook is optimistic for U.S. shale and LNG developers, said Artem Abramov, head of shale research at Rystad Energy.
“This conflict, though terrible for everyone involved, is a positive story for the U.S. LNG export potential,” said Artem Abramov, head of shale research at Rystad Energy. “Europe clearly indicated they are ready to accept higher prices and reduce dependency on Russian gas, which opens up the market for U.S. LNG.”
Sergio Chapa
https://finance.yahoo.com/news/threat-europe-gas-supply-bolsters-180411610.html
SD...Earnings should be out by next week if they follow their pattern. It doesn't look like they give a pre-announced earnings date on their Y/E, so it could be any day??
I think NG prices will remain higher throughout the year as long as there is unrest overseas.
Comparing last years NG chart with this years, SD looks to be off to a better start this year than last, and last year was a strong year for earnings. Add to that SD now has no debt.
So I continue to hold a decent position.
WSTG...Hoping to hear more on their 'acquisition objectives' tomorrow either in the cc, or better yet, in a press release. :o)
CXDO...Added @ $4/$4.05/$4.09 today. Huge insider buying over the past couple months along w/ this statement from the CEO last month when they announced a small dividend...
"My expectation of growing the business by 40% to 50% annually has not changed. I am highly confident in the future of Crexendo, and this dividend is an indication of my belief in the continued growth of Crexendo."
https://finance.yahoo.com/news/crexendo-declares-quarterly-dividend-005-211500659.html
WSTG...STRONG EARNINGS REPORT and forward guidance...
Wayside Technology Group Reports Fourth Quarter and Full Year 2021 Results
March 02 2022
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 fourth quarter and full year ended December 31, 2021.
Fourth Quarter 2021 Highlights vs. Same Year-Ago Quarter
Adjusted gross billings (a non-GAAP financial measure defined below) increased 16% to $262.1 million.
Net sales increased 6% to $75.5 million.
Gross profit increased 20% to $12.6 million.
Net income increased 36% to $3.4 million or $0.78 per diluted share.
Adjusted EBITDA (a non-GAAP financial measure defined below) increased 17% to $5.1 million.
Full Year 2021 Highlights vs. 2020:
Adjusted gross billings increased 28% to $935.0 million.
Net sales increased 12% to $282.6 million.
Gross profit increased 38% to $45.7 million.
Net income grew 2x to $9.2 million or $2.09 per diluted share.
Adjusted EBITDA increased 36% to $15.5 million.
Management Commentary
“2021 was a record year for Wayside, highlighted by strong results across all of our key financial metrics,” said CEO Dale Foster. “This was driven by the execution of our core strategy – generating organic growth with existing vendors, adding new emerging vendors to our line card, and delivering on our acquisition objectives, including the integration of CDF Group Limited (“CDF”). Q4 2021 marked the one-year anniversary of our CDF acquisition, which has been an excellent addition to our organization. CDF realized 17% gross profit growth in 2021, in addition to solid organic growth from Wayside, and we expect additional synergies across our platforms in 2022 that will further improve our operating leverage.
“2022 is already off to a strong year as we are ramping several new vendor additions to our line card, including IRONSCALES, Sonatype and Vultr. Further, in January we became an approved vendor for the National Cooperative Purchasing Alliance (NCPA). This partnership allows us to leverage NCPA’s cooperative purchasing contracts and nationwide agency network to deliver best-in-class security and IT solutions across multiple sectors, including government, healthcare and education.
“Looking ahead to the rest of 2022, we expect to generate another record year of results and will remain steadfast in executing our core growth initiatives. We have a strong foundation in place to support the emerging vendors in our network and pipeline across the globe, and we look forward to continuing to deliver value to our customers, partners and shareholders alike.”
Dividend
Subsequent to the quarter end, on March 1, 2022, Wayside’s board of directors declared a quarterly dividend of $0.17 per share of its common stock payable on March 18, 2022 to shareholders of record on March 14, 2022.
Fourth Quarter 2021 Financial Results
Adjusted gross billings in the fourth quarter of 2021 increased 16% to $262.1 million compared to $226.4 million for the same period in 2020. This reflects both strong organic growth from new and existing vendors as well as the benefit from the acquisition of CDF, which occurred in November 2020. In addition, Net sales in the fourth quarter of 2021 increased 6% to $75.5 million compared to $71.4 million for the same period in 2020.
Gross profit in the fourth quarter of 2021 increased 20% to $12.6 million compared to $10.5 million for the same period in 2020. The increase in gross profit was driven by new and existing vendors, certain customers that did not fully utilize discounts for early pay, as well as contribution from CDF.
Total selling, general, and administrative (“SG&A”) expenses in the fourth quarter of 2021 were $8.2 million compared to $7.7 million for the same period in 2020. SG&A as a percentage of adjusted gross billings was 3.1% for the fourth quarter of 2021 compared to 3.4% for same period in 2020.
Net income in the fourth quarter of 2021 increased 36% to $3.4 million or $0.78 per diluted share, compared to $2.5 million or $0.58 per diluted share for the same period in 2020.
Adjusted EBITDA in the fourth quarter of 2021 increased 17% to $5.1 million compared to $4.4 million for the same period in 2020. The increase was driven by organic growth and the acquisition of CDF.
Effective margin, which is defined as adjusted EBITDA as a percentage of gross profit, was 40.7% in the fourth quarter of 2021 compared to 41.4% for the same period in 2020.
Cash and cash equivalents were $29.3 million on December 31, 2021, compared to $29.3 million on December 31, 2020, while working capital increased by $8.6 million during this period. The Company remained debt free on December 31, 2021, with no borrowings outstanding under either its $20 million or £8 million credit facilities.
Fourth quarter and full year financial results in 2020 partially include operations from the acquisition of CDF on November 6, 2020.
WSTG...Earnings tomorrow...$0.80++ Q4 EPS IF their trend continues. YoY comps should look good and this could possibly be a record Q. WSTG is a top cybersecurity play (IMO) based on their high percentage distribution of emerging quality security software.
WSTG is now my largest holding so looking forward to tomorrow's cc & report.
With a good earnings report, good forward looking statements, and the acquisition still on the table, I'm thinking new highs for the stock price???
But you never know. Just hoping for the best.
Current price $29.88
No debt.
Good cash.
Market cap $131M
Shares outstanding 4.4M
Dividend yield 2.26%
CSPI...Quite the dip this morning. If it weren't for the rather large position I still have I'd be buying more. Still think this is a good long-term hold but it's taking a lot longer than I thought. Was way overweight in the stock so feel fortunate I sold some off on the spike to the mid $8's.
SD...NICE!!!!!! Still have approx half my shares after selling some in the $13's.