CPI Aerostructures Reports Second Quarter and Six Month 2025 Results
Globenewswire· 2025-08-19 21:30
Core Viewpoint - CPI Aerostructures, Inc. reported financial results for Q2 and the first half of 2025, highlighting a significant impact from the termination of the A-10 Program, which led to write-offs and losses, but also noted progress in transitioning to new programs and maintaining a strong backlog of orders [3][4][5]. Financial Performance - For Q2 2025, revenue was $15.2 million, down from $20.8 million in Q2 2024, with a gross profit of $0.7 million compared to $5.1 million, resulting in a gross margin of 4.4% (17.1% excluding A-10 impact) [8][17]. - The net loss for Q2 2025 was $(1.3) million, compared to a net income of $1.4 million in Q2 2024, leading to a loss per share of $(0.10) versus earnings per share of $0.11 [8][17]. - For the first half of 2025, revenue was $30.6 million, down from $39.9 million in the same period of 2024, with a net loss of $(2.6) million compared to a net income of $1.6 million in 2024 [8][17]. Debt and Financial Health - The company reduced its total debt to an all-time low of $16.2 million as of June 30, 2025, down from $18.9 million a year earlier, with a Debt-to-Adjusted EBITDA Ratio of 2.7 excluding the A-10 Program impact [4][8]. - Management identified a material weakness in internal control over financial reporting related to debt classification but believes it does not affect the financial results for Q2 [5]. Operational Developments - CPI Aero achieved key development milestones, including the first delivery of the Advanced Tactical Flight Pod to Raytheon, and ended the quarter with a strong backlog of $506 million, including new program awards from major clients [4][5]. - The company is focused on optimizing its portfolio and transitioning from legacy programs to future-oriented programs [5].
NovaBay Pharmaceuticals Enters Into $6 Million Securities Purchase Agreement with Investor David E. Lazar
Globenewswire· 2025-08-19 21:25
Core Viewpoint - NovaBay Pharmaceuticals has entered into a $6 million securities purchase agreement with private investor David E. Lazar to support its continued public listing and fund future strategic transactions [1][2] Group 1: Investment Details - The first closing of the agreement has been completed, with NovaBay receiving $3.85 million [1] - The second closing, which involves an additional investment of $2.15 million, is contingent on stockholder approval at the 2025 annual meeting [3] - The proceeds from this investment will be used to pursue strategic investments and/or acquisitions [2] Group 2: Leadership Changes - David E. Lazar has been appointed as the new Chief Executive Officer and a director of NovaBay [1] - Former CEO Justin Hall has transitioned to the role of Vice President of Business Development [1] Group 3: Company Strategy - The investment aims to prevent the liquidation and dissolution of NovaBay, allowing its common stock to continue trading on the NYSE American exchange [2] - NovaBay plans to declare a special cash dividend to its stockholders in the third quarter of 2025 [2] - The Board of Directors unanimously supports the transaction, viewing it as the best path forward for stockholders [3]
River Valley Community Bank Strengthens Agricultural & Commercial Lending with Expanded Yuba Sutter Team
Globenewswire· 2025-08-19 21:01
Core Viewpoint - River Valley Community Bancorp is expanding its banking team in the Yuba Sutter market to better serve the agricultural community and small businesses, emphasizing a commitment to tailored financial solutions [1][4]. Group 1: Team Expansion - The bank has added key banking professionals, including Matt Peyret as Senior Vice President and Market Manager, who has over 20 years of experience in commercial and agricultural banking [2][7]. - Heather Peña has also joined as Vice President and Relationship Manager, focusing on building strong client relationships and supporting local businesses [7]. Group 2: Commitment to Agriculture and Small Businesses - The expanded team aims to provide specialized financial solutions that address the unique needs of small businesses and agricultural operations in Yuba and Sutter counties [4][5]. - The bank emphasizes understanding the cash flow patterns of local operations to offer tailored financial solutions, highlighting the importance of having a banking partner that comprehends the complexities of business operations [3][4]. Group 3: Positive Impact on the Community - River Valley Community Bank anticipates a positive impact on farming communities in Yuba and Sutter counties through the expertise of the new team [5].
West Red Lake Gold Announces Filing of NI 43-101 Preliminary Economic Assessment Technical Report for the Rowan Project
Globenewswire· 2025-08-19 20:48
Core Viewpoint - West Red Lake Gold Mines Ltd. has filed an independent preliminary economic assessment (PEA) technical report for its Rowan project, indicating positive results and supporting previous disclosures made by the company [1][2]. Company Overview - West Red Lake Gold Mines Ltd. is a publicly traded gold development and mining company focused on the Madsen Gold Mine and a 47 km land package in the Red Lake district of Ontario, which has produced over 30 million ounces of gold [5]. - The company also owns the Rowan Property, covering 31 km and including three past-producing gold mines: Rowan, Mount Jamie, and Red Summit [5]. Technical Information - The PEA Technical Report was prepared by Fuse Advisors Inc. in accordance with NI 43-101 standards and confirms the information disclosed in the company's July 8, 2025 news release [2][3]. - The full PEA Technical Report is available on SEDAR+ and the company's website, encouraging readers to review it in its entirety [3]. Qualified Persons - The technical content of the press release has been prepared and approved by qualified persons, Mr. Will Robinson and Mr. Maurice Mostert, ensuring compliance with industry standards [4].
Scientific Industries Reports Financial Results for Second Quarter of Fiscal Year 2025
Globenewswire· 2025-08-19 20:35
TORBAL DIVISION SALES UP 11%SECURED $10 MILLION IN STRATEGIC DIVESTURE OF GENIE PRODUCT LINEVIVID AND BIOPROCESSING NEW PRODUCT AI ROADMAP ON TARGET Investor Call to be held Wednesday, August 20th at 11:00 a.m. Eastern Time BOHEMIA, N.Y., Aug. 19, 2025 (GLOBE NEWSWIRE) -- Scientific Industries, Inc. (OTCQB: SCND), a developer of digitally simplified bioprocessing products and vision-based pill counters, today reported financial results for the three and six month periods ended June 30, 2025. Business Highli ...
Atico Reports Consolidated Financial Results for Second Quarter of 2025
Globenewswire· 2025-08-19 20:30
Core Viewpoint - Atico Mining Corporation reported significant financial improvements for Q2 2025, driven by increased production, higher concentrate sales, and strong metal prices, with expectations for continued operational enhancements throughout the year [1][2]. Financial Performance - The company posted a net income of $2.7 million for Q2 2025, a substantial increase from a net loss of $0.4 million in Q2 2024 [3][4]. - Sales surged by 94% to $21.1 million compared to $10.9 million in the same quarter of the previous year [3][4]. - Cash flows from operations before changes in working capital reached $4.9 million, up from $2.5 million in Q2 2024 [3][4]. Production Metrics - Copper production totaled 2.2 million pounds and gold production was 2,385 ounces, reflecting a decrease of 42% and 16% respectively compared to Q2 2024 [5][6]. - The average realized price for copper was $4.47 per pound, while gold was $3,406 per ounce, showing increases from $4.34 and $2,303 respectively in Q2 2024 [3][4]. Cost Analysis - Cash costs per pound of payable copper produced were $1.73, an increase of 17% from $1.48 in Q2 2024 [6][7]. - All-in sustaining cash cost per payable pound of copper produced rose to $3.91 from $2.32 in Q2 2024, primarily due to lower copper output and higher sustaining capital expenditures [3][4]. Operational Developments - The company is conducting a 6,000 meter near-mine drill program at El Roble to replenish resources and extend the mine's life [2]. - A new 30-year mining agreement was executed with the National Mining Agency of Colombia for the El Roble mine [3][4]. Management Changes - Alain Bureau, the President of the company, stepped down effective August 15, 2025, but will continue as a government relations consultant [7].
ScanTech AI Strengthens Service Capabilities by Selecting Curie Technologies
Globenewswire· 2025-08-19 20:27
ScanTech AI Strengthens Service Capabilities by Selecting Curie Technologies ScanTech AI Strengthens Service Capabilities by Selecting Curie Technologies Atlanta, GA, Aug. 19, 2025 (GLOBE NEWSWIRE) -- ScanTech AI Systems Inc. (the "Company" or "ScanTech AI") (Nasdaq: STAI), a next-generation provider of AI-powered CT screening systems for aviation, customs, and critical infrastructure, today announced its service collaboration with Curie Technologies to integrate the Curie™ software platform into its SE ...
Orion Announces EV Charger Installations in Two Locations for Massachusetts DOT; FY26 Growth Illustrated by $15.5M in Revenue from 5 Enterprise Customers Announced in the Last 3 Weeks
Globenewswire· 2025-08-19 20:20
Core Insights - Orion Energy Systems, Inc. has secured a $2 million contract to install four High Power DC EV chargers for the Massachusetts Department of Transportation (MassDOT) [1][2] - The installations are part of MassDOT's five-year plan to enhance EV charging infrastructure across the state, particularly at travel plazas along the Massachusetts Turnpike [2] - Orion's Voltrek division is also involved in a significant initiative to electrify Boston Public Schools' bus fleet, with a recent contract for 90 EV charging stations valued at $6.5 million [3] Company Developments - Orion has recently announced contracts with five major enterprise customers, totaling $15.5 million in revenue, indicating a strong growth trajectory [4] - The company aims to achieve positive adjusted EBITDA on projected revenue of approximately $84 million for FY 2026 [4] - Orion specializes in energy efficiency and clean tech solutions, including LED lighting and EV charging solutions, focusing on large national customers and projects through ESCO and distribution partners [5] Industry Context - The deployment of EV charging stations is a critical component of Massachusetts' strategy to increase the availability of charging infrastructure in both urban and rural areas [2] - Orion's role in MassDOT's EV infrastructure rollout positions the company as a trusted partner in a rapidly growing sector [4]
Vivos Therapeutics Reports Second Quarter 2025 Financial Results and Provides Operational Update
Globenewswire· 2025-08-19 20:20
Core Viewpoint - Vivos Therapeutics, Inc. has made a significant acquisition of The Sleep Center of Nevada, which is expected to enhance its revenue generation and patient demand for its obstructive sleep apnea (OSA) treatments. The company is transitioning its business model to focus on direct patient relationships and sleep center alliances [1][3]. Financial Performance - For the second quarter of 2025, Vivos reported revenue of $3.8 million, a decrease from $4.1 million in the same period of 2024. For the six months ended June 30, 2025, revenue was $6.8 million compared to $7.5 million in 2024 [4]. - Gross profit for the second quarter of 2025 was $2.1 million, down from $2.7 million in the second quarter of 2024. For the six months ended June 30, 2025, gross profit was $3.6 million compared to $4.6 million in 2024 [4]. - The gross margin declined to 55% in the second quarter of 2025 from 65% in the same period of 2024, attributed to pricing discounts and the transition to a new sales model [4]. - Operating expenses increased by 52% to $7.0 million in the second quarter of 2025, compared to $4.6 million in the same period of 2024, largely due to costs associated with the acquisition and integration of SCN [4]. Strategic Initiatives - The acquisition of The Sleep Center of Nevada marks a strategic shift in Vivos' sales and marketing approach, moving from a dentist-reliant model to a more comprehensive model that includes direct patient engagement [3]. - Vivos is also developing a new sleep practice management model to partner with sleep centers that are not interested in acquisition but want to offer Vivos' OSA diagnostic and treatment options [5][6]. - The company is actively seeking additional sleep center alliances or acquisitions to scale its new model, as demand at SCN locations has exceeded current capacity [3]. Market Context - OSA affects over 1 billion people globally, with a significant portion remaining undiagnosed. This presents a substantial market opportunity for innovative treatments that address the root causes of OSA [11]. - Vivos' proprietary treatments, including the Complete Airway Repositioning and Expansion (CARE) devices, are FDA-cleared for various severity levels of OSA, positioning the company favorably in the medical device market [10].
Talos Energy Announces Successful Exploration Results at Daenerys
Prnewswire· 2025-08-19 20:17
Core Insights - Talos Energy Inc. announced successful drilling results at the Daenerys exploration prospect in the U.S. Gulf of America [1] - The discovery well reached a total vertical depth of 33,228 feet and encountered oil pay in multiple high-quality, sub-salt Miocene sands [2] - The well was completed approximately 12 days ahead of schedule and $16 million under budget, with plans for an appraisal well underway [2][4] Company Overview - Talos Energy is an independent energy company focused on maximizing long-term value through its Exploration & Production business in the U.S. Gulf of America and offshore Mexico [5] - The company leverages technical and operational expertise to acquire, explore, and produce assets while maintaining a focus on safety, efficiency, and environmental responsibility [5] Ownership Structure - Talos holds a 27% working interest in the Daenerys project, with Shell Offshore Inc. at 22.5%, Red Willow at 22.5%, Houston Energy, L.P. at 10%, Cathexis at 9%, and HEQ II Daenerys, LLC at 9% [3]