Steel nect(STCN) - 2024 Q3 - Quarterly Results

Exhibit 99.1 Steel Connect Reports Third Quarter Fiscal 2024 Financial Results NEW YORK, NY (June 6, 2024) – Steel Connect, Inc. (the "Company") (NASDAQ: STCN) today announced financial results for its third quarter ended April 30, 2024. Results of Operations During the current quarter, the Company booked a $71.5 million non-cash accounting adjustment to net income as a result of a release of a portion of its valuation allowance for certain pre-existing Company deferred tax assets. The release resulted in a ...