America's Cup team uses Siemens Xcelerator software to create a digital twin to simulate hydraulics and aeronautic systems of the yacht in the water through virtual and immersive experiences PLANO, Texas, Aug. 20, 2024 /PRNewswire/ -- Siemens Digital Industries Software announced today that the Orient Express Racing Team is using the Siemens Xcelerator portfolio of industry software to aid in preparation for upcoming 37th America's Cup and to gain competitive advantage. Orient Express Racing Team, the Frenc ...

AUSTIN, Texas, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Vital Farms (Nasdaq: VITL), a Certified B Corporation that offers a range of ethically produced foods nationwide, has hired Joe Holland as Chief Supply Chain Officer (CSCO) beginning on September 1, 2024. Mr. Holland's proven track record of driving operational excellence for high-impact consumer packaged goods (CPG) companies will help the company continue to raise the standards across the food industry. He will lead Vital Farms' diversified supply chain tea ...

MARLBOROUGH, Mass., Aug. 20, 2024 /PRNewswire/ -- Corero Network Security (AIM: CNS) (OTCQB: DDOSF), the distributed denial of service (DDoS) protection specialists, is proud to announce that two of its team members have been shortlisted for The Channel Co.'s Women in Tech Excellence Awards. These awards, now in their eighth year, celebrate the remarkable achievements of women in the technology sector, recognizing individuals who are making significant strides in an industry where they remain underrepresent ...

Seasoned Marketing Executive to Accelerate Brand Evolution and Client Success BOISE, Idaho, Aug. 19, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced the appointment of Fleur Sohtz as its new Chief Marketing Officer. Fleur joins Clearwater Analytics with 25 years' experience scaling high-growth companies, achieving double-digit revenue growth, and creating integrated marketing progr ...

New survey highlights key trends impacting employee productivity MENLO PARK, Calif., Aug. 19, 2024 /PRNewswire/ -- New research from talent solutions and business consulting firm Robert Half reveals a complex picture when it comes to worker productivity. While most managers report that their teams have become more productive, employees are logging more hours than they did a year ago. This trend raises potential concerns about employee burnout, morale and turnover. The survey of more than 2,500 U.S. hiring m ...

New ad, featuring America's favorite "quality captain," begins airing Aug. 19 ANN ARBOR, Mich., Aug. 19, 2024 /PRNewswire/ -- TV personality. Entrepreneur. Record executive. Judge of all things talent. A new title has just been added to Simon Cowell's repertoire: Domino's quality captain. Cowell, America's favorite judge of perfection, stars in Domino's Pizza Inc.'s (NYSE: DPZ) newest TV ad, which showcases the brand's passion for ensuring that every pizza is perfect before it goes in the oven. Simon Cowell ...

CAMBRIDGE, Mass., Aug. 19, 2024 (GLOBE NEWSWIRE) -- Fulcrum Therapeutics, Inc.® (Fulcrum) (Nasdaq: FULC), a clinical-stage biopharmaceutical company focused on developing small molecules to improve the lives of patients with genetically defined rare diseases, today announced the appointment of Isabel Kalofonos as chief commercial officer and Heather Faulds as chief regulatory affairs & quality assurance officer. Together, Ms. Kalofonos and Ms. Faulds will be instrumental in advancing losmapimod towards a Ne ...

SAN DIEGO, Aug. 12, 2024 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, announced today the appointment of Kristi Sarno as senior vice president, business development. Ms. Sarno brings more than 25 years of business development and strategic experience in the life sciences industry to iBio and will play a key role on the leadership team in establishing the company's corporate strategy and leading business development activities, including overseein ...

Financial Performance - The company reported a Q2 2024 loss per share of 45 cents, significantly narrower than the $2.55 loss in the same quarter of the previous year [3] - Revenues declined by 4.5% year-over-year to $228.6 million from $239.5 million in Q2 2023 [3] - Operating income improved to $11.2 million, up from $4.6 million in Q2 2023, driven by cost reductions and margin expansion [9] - Gross margin increased by 240 basis points to 27.8%, contributing to a $2.6 million increase in gross profit to $63.6 million [9] - Adjusted EBITDA rose 25% year-over-year to $21.8 million, representing 9.5% of revenues compared to 7.3% in the prior-year period [9] - The net loss narrowed significantly to $2.8 million from $15.8 million in Q2 2023, reflecting lower operating expenses and improved margins [10] Segmental Performance - The Inspection and Heat Treating (IHT) segment reported a 3% revenue decline to $113.2 million, primarily due to reduced activity in Canada and international markets [6] - Despite the revenue decline, IHT's operating income surged 90.3% to $12.5 million, driven by cost reductions and better margins in U.S. operations [7] - The Mechanical Services (MS) segment experienced a 6% revenue decline to $115.4 million, mainly due to lower project activity in the U.S., Canada, and international regions [7] - MS segment's operating income dropped 16.4% to $10.6 million, attributed to reduced earnings from international and Canada operations [8] Expense Management - Total operating expenses decreased by 7.6% to $165.1 million, reflecting the company's cost-cutting initiatives [11] - Selling, general, and administrative (SG&A) expenses declined by 7% to $52.4 million, driven by lower professional fees and overall cost reductions [12] Liquidity and Debt - As of June 30, 2024, the company reported total liquidity of $40.1 million, including $17.9 million in cash and cash equivalents and $22.2 million in undrawn credit facilities [13] - Total debt increased to $320.1 million, up from $311.4 million at the end of 2023, primarily due to paid-in-kind interest and a new equipment finance facility [14] - Net debt stood at $297.6 million as of June 30, 2024 [14] Management Guidance - The company reiterated its 2024 revenue guidance of $850 million to $900 million, with a gross margin projected between $235 million and $265 million [15] - Adjusted EBITDA guidance for 2024 is $58 million to $68 million, reflecting a 48% improvement at the midpoint compared to 2023 [15] Strategic Initiatives - The company launched targeted commercial initiatives in Q2 2024, focusing on revenue growth in core markets and expansion into new segments such as aerospace and midstream [16] - The aerospace facility in Cincinnati reported a 46% year-over-year revenue increase, driven by strong demand and recent capacity investments [16] - The company's strategic focus on improving job mix and growing higher-margin service lines is expected to contribute positively to financial performance in the second half of 2024 [17]

Team, Inc. (NYSE:TISI) Q2 2024 Earnings Conference Call August 9, 2024 11:00 AM ET Company Participants Keith D. Tucker - Chief Executive Officer Nelson M. Haight - Executive Vice President and Chief Financial Officer Conference Call Participants Operator Good day, and welcome to the Team, Inc. Second Quarter Update Conference Call. Today, all participants will be in a listen-only mode. [Operator Instructions] Please note that today’s event is being recorded. I would now like to turn the conference over to ...