Category: Finance

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Sonic Foundry Announces Fiscal 2020 Third Quarter Financial Results

  • Billings of $7.7 million in the third quarter of 2020, bringing total billings for the year to $24.3 million which is $300,000 ahead of last year
  • Total revenues of $7.9 million compared to $10.1 million in the third quarter of 2019, and $24.6 million total revenue year-to-date compared to $25.6 million last year
  • Gross margin remained consistent at 73 percent for the third quarter in both 2020 and 2019
  • Net income attributable to common stockholders of $107,000, or $.01 per share, compared to a net loss of $(159,000), or $(0.03) per share, in the third quarter of 2019, an
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    Titan Medical Reports Second Quarter 2020 Financial Results

    TORONTO–(BUSINESS WIRE)–Titan Medical Inc. (“Titan” or the “Company”) (TSX: TMD) (Nasdaq: TMDI), a medical device company focused on the design and development of single-port robotic surgical technologies, announces financial results for the three and six months ended June 30, 2020.

    All financial results are prepared in accordance with International Accounting Standards (“IAS”) 34 on a basis consistent with the Company’s 2019 annual financial statements and are reported in U.S. dollars, unless otherwise stated. The unaudited condensed interim consolidated financial statements and management’s discussion and analysis for the period ended June 30, 2020 may be viewed at www.sedar.com and at www.sec.gov.

    David McNally, President and CEO of Titan, said, “The most significant event of the first half of 2020 was the execution of a license agreement, a development and license agreement and a senior secured note with Medtronic plc, which we announced on June 4. We are

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    Today’s Definition of Financial Adulthood Is More Flexible Than Ever

    The financial milestones of adulthood used to be pretty clear-cut: 30-somethings were expected to get married, buy a home and have children. In fact, when the popular TV show “thirtysomething” hit the airwaves in 1987, back when many of today’s 30-somethings were in diapers, the show revolved around parenting young kids while climbing career ladders.

    COVID-19 pandemic hit, which has created even more financial strain for this generation.” data-reactid=”13″More recent hit shows about 30-somethings are more likely to feature characters experiencing underemployment (“Fleabag”), adult children living with parents (“Schitt’s Creek”), and dating with no marriage in sight (“Master of None”). (Producers are currently shopping around a sequel to the original “thirtysomething,” revolving around the original characters’ now-30-something children.) And all of those shows were conceived before the COVID-19 pandemic hit, which has created even more financial strain for this generation.

    In the real world, statistics from the Pew Research

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    Power Solutions International Announces Second Quarter and First Half 2020 Financial Results

    The novel coronavirus COVID-19 pandemic (“COVID-19 pandemic”) has resulted in the implementation of significant governmental measures to control the spread of the virus, including quarantines, travel restrictions, business shutdowns and restrictions on the movement of people in the United States and abroad, and the related recent historic decline in oil demand. The Company has experienced a significant overall reduction in demand for its products which is, in large part, attributable to the impact of the COVID-19 pandemic.  This reduction in demand has adversely impacted the Company’s financial results for the second quarter and first half of 2020.  Sales for the second quarter of 2020 were $93.1 million, … Read More

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    Quest Resource Holding Reports Second Quarter 2020 Financial Results

    THE COLONY, Texas, Aug. 13, 2020 (GLOBE NEWSWIRE) — Quest Resource Holding Corporation (NASDAQ:QRHC) (“Quest”), a national leader in environmental waste and recycling services, today announced financial results for the second quarter ended June 30, 2020.

    Second Quarter 2020 Highlights

    • Revenue was $22.0 million, a 13.7% decrease compared with the second quarter of 2019.
    • Gross profit was $4.4 million, a 7.9% decrease compared with the second quarter of 2019.
    • Gross margin increased 120 basis points to 19.9% of revenue, compared with 18.7% for the second quarter of 2019.
    • Other income of $1.3 million, or $0.08 per share, in the second quarter of 2020 represented the use of PPP Loan proceeds to fund eligible expenses under the CARES Act.
    • Net income per share was $0.08, compared with $0.00 during the second quarter of 2019. 
    • Adjusted EBITDA was $1.1 million, compared with $825,000 during the second quarter of 2019.

    Year-to-Date 2020 Highlights

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    Priority Technology Holdings, Inc. Announces Second Quarter 2020 Financial Results

    Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority” or the “Company”), a leading provider of merchant acquiring, integrated payment software and commercial payment solutions, today announced its second quarter 2020 financial results.

    The second quarter of 2020 began with nationwide shelter in place orders due to the COVID-19 pandemic. Priority’s April results were reflective of this with merchant bankcard processing dollar volumes down 31.8% year over year, and a corresponding, albeit more modest, revenue decline of 11.7%. As we quickly adapted to the new market dynamic, and the strength of our product offering and counter-cyclical assets accelerated, May and June results posted strong improvements. In May, merchant bankcard processing dollar volumes declined 15.8% year over year, however, revenue increased by 1.7%. In June, merchant bankcard processing dollar volumes showed a modest decline of 1.9% year over year, with a revenue increase of 10.8%.

    For the full quarter, increases in ecommerce volume … Read More

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    MFM & BCCA Virtual Media Finance Focus 2020 Keynote to Explore Home Entertainment Choices and Gaming Culture

    Media Financial Management Association’s (MFM’s) Media Finance Focus will host a conference keynote on Tuesday, August 18 at 1:00 p.m. The two-part session will feature an address by Mark Orne, EVP, Cross Platform Team, Screen Engine/ASI titled, “Entertainment Choice in the Home: Understanding the Impact of Increasingly More Options.” His session will be followed by a fireside chat, “Mass Appeal: Gaming Entertainment, Esports and the Cultural Zeitgeist” between Jennifer Dill vice president, esports, Turner Sports and Howard Homonoff, a leading media industry executive, strategic advisor, and writer. When it became apparent that an in-person meeting would not be safe for members, MFM and its BCCA subsidiary, the media industry’s credit association, decided to make Media Finance Focus 2020, the Associations’ 60 annual conference, a virtual event.

    Orne will open the keynote session with a deep dive into the latest data from Screen Engine/ASI’s GETT (Global Entertainment

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    Lenders question RBI’s loan exposure definition

    MUMBAI :
    Several foreign and private lenders have questioned the definition of “loan exposure” in the Reserve Bank of India’s (RBI) recent circular that bars corporate borrowers from operating multiple current accounts. While public sector banks (PSBs) stand to benefit the most from the changed regulations on current accounts announced by RBI last Thursday, foreign and private sector banks said more clarity is warranted on what constitutes a loan exposure.

    “How do you define exposure? Whether it is funded or non-funded? What happens to your draft limit which is given for settlement transactions? What about forex settlement risk, whether that is defined as exposure?” asked a senior banker with a foreign bank.

    RBI’s 6 August circular says borrowers with more than 50 crore exposure to the banking system need to have an escrow mechanism and only banks managing such escrow can open current accounts. Companies with less than

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    SUNMI Launches new version of V2 PRO, with label printing and a high-definition QR code scanner

    SHANGHAI, July 29, 2020 /PRNewswire/ — SUNMI, a Shanghai-based IoT company that produces intelligent hardware for various commercial applications, has released the updated version of its best-selling handheld point-of-sale gadget V2 PRO, in a new move to empower businesses grappling with a surge in customer orders and foot traffic amid the Covid-19 pandemic.

    The Label Version of SUNMI V2 PRO Handheld Pos

    V2 PRO Label Version comes with two new key features, including label printing and a high-definition QR code scanner. It enables merchants to process transactions in an easier manner, delivering a better user experience to vendors including but not restricted to food delivery and retail firms.

    Since its inception in September 2018, SUNMI V2 PRO has been sold to 111 countries across the world, and the whole SUNMI V Series has topped a million units in shipment, counting retail giants such as Starbucks, FamilyMart,

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    Trump campaign accused of using ‘pass-through’ vendors to obscure $170 million in payments

    An ethics watchdog group has accused President Donald Trump’s reelection campaign of obscuring nearly $170 million worth of campaign spending through so-called “pass-through” vendors linked to campaign leadership instead of disclosing the true recipients of the funds.

    In an FEC complaint filed on Tuesday, the Washington-based nonpartisan group Campaign Legal Center said American Made Media Consultants and Parscale Strategy, two companies set up and by run by campaign leadership, including former campaign manager Brad Parscale, have been disguised as providing a variety of services to the campaign, when in reality they have essentially served as “clearing house” firms that dole out contracts and payments to various subcontractors and vendors without revealing the ultimate recipients of the donor money.

    Since 2019, the Trump campaign and Trump Make American Great Again committee, a joint fundraising committee with the Republican Party, have reported paying American Made Media Consultants and Parscale Strategy nearly $170

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