The price Democrats will have to pay for expanding Medicaid under the Affordable Care Act is a work requirement for beneficiaries.
Reported by Huffington Post 3 hours ago.
Virginia Is On The Verge Of Giving Health Coverage To 400,000, But There's A Catch
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Armada Hoffler Properties Reports First Quarter 2018 Results
*Net Income of $0.11 Per Diluted Share*
*Normalized FFO of $0.25 Per Diluted Share*
*Company Reaffirmed 2018 Full-Year Normalized FFO Guidance*
VIRGINIA BEACH, Va., May 01, 2018 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE:AHH) today announced its results for the quarter ended March 31, 2018 and provided an update on current events.
*Highlights include:*
· Net income of $7.0 million, or $0.11 per diluted share, for the quarter ended March 31, 2018 compared to net income of $8.8 million, or $0.16 per diluted share, for the quarter ended March 31, 2017.· Normalized Funds From Operations (“FFO”) of $15.4 million, or $0.25 per diluted share, for the quarter ended March 31, 2018 compared to Normalized FFO of $14.6 million, or $0.26 per diluted share, for the quarter ended March 31, 2017.· FFO of $16.3 million, or $0.26 per diluted share, for the quarter ended March 31, 2018 compared to FFO of $14.8 million, or $0.27 per diluted share, for the quarter ended March 31, 2017.· Core operating property portfolio occupancy at 95.6% as of March 31, 2018 compared to 94.2% as of December 31, 2017.· During the first quarter of 2018, positive releasing spreads were 7.8% on a GAAP basis and 3% on a cash basis.· The Board of Directors declared a cash dividend of $0.20 per common share for the first quarter of 2018. This represents a 5.3% increase over the prior quarter's cash dividend and the fourth increase in four years, totaling 25% dividend growth during that period.· Added approximately 132,000 square feet of retail space through the acquisitions of Indian Lakes Crossing, a Harris Teeter-anchored center in Virginia Beach, Virginia and Parkway Centre, a Publix-anchored center in Moultrie, Georgia.· After the end of the quarter, the Company entered into an agreement to sell the Wawa parcel at Indian Lakes Crossing for a 5.35% capitalization rate. Once complete, this will bring the Harris Teeter-anchored center to an approximate 8% capitalization rate overall.
Commenting on the Company’s results, Louis Haddad, President and CEO, said, “Next week marks the 5-year anniversary of our IPO. Our growth over the past five years has seen us nearly triple our market cap. We have also more than doubled the total return of the RMS REIT index over the 5-year period. The current environment is one in which our integrated business model typically thrives. We look forward to making several announcements in the near future that will serve to validate our ability to succeed in this economic landscape.”
*Financial Results*
Net income for the first quarter decreased to $7.0 million compared to $8.8 million for the first quarter of 2017. The period-over-period change was primarily due to a $1.7 million decrease in construction segment gross profits, which was driven by both lower revenues and a lower margin in this segment. Additionally, results for the first quarter of 2017 included a $3.4 million gain on the sale of the Greentree Wawa as compared to no property sales during the first quarter of 2018. These decreases to net income were partially offset by higher interest income and a positive change in the fair value of interest rate derivatives.
Normalized FFO for the first quarter increased to $15.4 million compared to $14.6 million for the first quarter of 2017. FFO for the first quarter increased to $16.3 million compared to $14.8 million for the first quarter of 2017. The period-over-period changes in Normalized FFO and FFO were positively impacted by property acquisitions and higher interest income, which were partially offset by declines in construction segment gross profits and Same Store NOI. The temporary decrease in Same Store NOI was impacted by the relocation and expansion of one office tenant to 4525 Main Street, which is not currently included in the Same Store NOI calculation.
*Operating Performance*
At the end of the first quarter, the Company’s office, retail and multifamily core operating property portfolios were 92%, 97% and 96% occupied, respectively.
Total construction contract backlog was $30.7 million at the end of the first quarter.
*Balance Sheet and Financing Activity*
As of March 31, 2018, the Company had $595.6 million of total debt outstanding, including $108.0 million outstanding under its revolving credit facility. Total debt outstanding excludes unamortized GAAP fair value adjustments and deferred financing costs. Approximately 37.3% of the Company’s debt had fixed interest rates or were subject to interest rate swaps as of March 31, 2018. After considering LIBOR interest rate caps with strike prices at or below 225 basis points as of March 31, 2018, 91% of the Company’s debt was fixed or hedged.
During the quarter, the Company began to address the five loans originally schedule to mature during 2018. Both of the Columbus Village loans were paid off, and the Sandbridge Commons loan was extended for five years.
*Outlook*
The Company reaffirmed its 2018 full-year guidance and expects 2018 Normalized FFO in the range of $1.00 to $1.05 per diluted share. The following table outlines the Company’s updated assumptions along with Normalized FFO per diluted share estimates for the full-year 2018.
*Full-year 2018 Guidance ^[1]* *Expected Ranges*
Total NOI $79.5M $80.2M
Construction company annual segment gross profit $4.4M $7.5M
General and administrative expenses $10.7M $11.0M
Interest income $9.3M $9.5M
Interest expense ^[2] $19.8M $20.3M
Normalized FFO per diluted share ^[3] $1.00 $1.05
^[1] Includes the acquisition of one additional retail center, the disposition of the Wawa outparcel at Indian Lakes Crossing, and additional shares that may be issued under the ATM Program, assuming favorable market conditions.
^[2] Interest expense is calculated based on the Forward LIBOR Curve, which forecasts rates rising to 2.25% by year end.
^[3] Normalized FFO excludes certain items, including debt extinguishment losses, acquisition, development and other pursuit costs, mark-to-market adjustments for interest rate derivatives and other non-comparable items. See “Non-GAAP Financial Measures.” In addition, the calculation of Normalized FFO per diluted share assumes 63.6 million weighted average shares and units outstanding. The Company does not provide a reconciliation for its guidance range of Normalized FFO per diluted share to net income per diluted share, the most directly comparable forward-looking GAAP financial measure, because it is unable to provide a meaningful or accurate estimate of reconciling items and the information is not available without unreasonable effort as a result of the inherent difficulty of forecasting the timing and/or amounts of various items that would impact net income per diluted share. For the same reasons, the Company is unable to address the probable significance of the unavailable information and believes that providing a reconciliation for its guidance range of Normalized FFO per diluted share would imply a degree of precision for its forward-looking net income per diluted share that could be misleading to investors.
*Supplemental Financial Information*
Further details regarding operating results, properties and leasing statistics can be found in the Company’s supplemental financial package available at www.ArmadaHoffler.com.
*Webcast and Conference Call*
The Company will host a webcast and conference call on Tuesday, May 1, 2018 at 8:30 a.m. Eastern Time to review financial results and discuss recent events. The live webcast will be available through the Investors page of the Company’s website, www.ArmadaHoffler.com. To participate in the call, please dial 877-407-3982 (domestic) or 201-493-6780 (international). A replay of the conference call will be available through Friday, June 1, 2018 by dialing 844-512-2921 (domestic) or 412-317-6671 (international) and entering the pass code 13677669.
*About Armada Hoffler Properties, Inc.*
Armada Hoffler Properties, Inc. (NYSE:AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with nearly four decades of experience developing, building, acquiring and managing high-quality, institutional-grade office, retail and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. The Company also provides general construction and development services to third-party clients, in addition to developing and building properties to be placed in its stabilized portfolio. The Company has elected to be taxed as a REIT for U.S. federal income tax purposes.
*Forward-Looking Statements*
Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These forward-looking statements may include comments relating to the current and future performance of the Company’s operating property portfolio, the Company’s development pipeline, the Company’s construction and development business, including backlog and timing of deliveries, financing activities, as well as acquisitions, dispositions and the Company’s financial outlook and expectations. For a description of factors that may cause the Company’s actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, and the other documents filed by the Company with the Securities and Exchange Commission from time to time.
*Non-GAAP Financial Measures*
The Company calculates FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (“Nareit”). Nareit defines FFO as net income (loss) (calculated in accordance with GAAP), excluding gains (or losses) from sales of depreciable operating property, real estate related depreciation and amortization (excluding amortization of deferred financing costs) and after adjustments for unconsolidated partnerships and joint ventures.
FFO is a supplemental non-GAAP financial measure. The Company uses FFO as a supplemental performance measure because it believes that FFO is beneficial to investors as a starting point in measuring the Company’s operational performance. Specifically, in excluding real estate related depreciation and amortization and gains and losses from property dispositions, which do not relate to or are not indicative of operating performance, FFO provides a performance measure that, when compared period-over-period, captures trends in occupancy rates, rental rates and operating costs. We also believe that, as a widely recognized measure of the performance of REITs, FFO will be used by investors as a basis to compare the Company’s operating performance with that of other REITs.
However, because FFO excludes depreciation and amortization and captures neither the changes in the value of the Company’s properties that result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of the Company’s properties, all of which have real economic effects and could materially impact the Company’s results from operations, the utility of FFO as a measure of the Company’s performance is limited. In addition, other equity REITs may not calculate FFO in accordance with the Nareit definition as the Company does, and, accordingly, the Company’s FFO may not be comparable to such other REITs’ FFO. Accordingly, FFO should be considered only as a supplement to net income as a measure of the Company’s performance.
Management also believes that the computation of FFO in accordance with Nareit’s definition includes certain items that are not indicative of the results provided by the Company’s operating property portfolio and affect the comparability of the Company’s period-over-period performance. Accordingly, management believes that Normalized FFO is a more useful performance measure that excludes certain items, including but not limited to, debt extinguishment losses and prepayment penalties, property acquisition, development and other pursuit costs, mark-to-market adjustments for interest rate derivatives and other non-comparable items.
For reference, as an aid in understanding the Company’s computation of FFO and Normalized FFO, a reconciliation of net income calculated in accordance with GAAP to FFO and Normalized FFO has been included in the final page of this release.
ARMADA HOFFLER PROPERTIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(dollars in thousands)
*March 31, 2018* *December 31, 2017*
*(Unaudited)*
*ASSETS*
Real estate investments:
Income producing property $ 936,579 $ 910,686
Held for development 1,473 680
Construction in progress 120,850 83,071
Accumulated depreciation (171,205 ) (164,521 )
Net real estate investments 887,697 829,916
Cash and cash equivalents 15,804 19,959
Restricted cash 3,502 2,957
Accounts receivable, net 16,125 15,691
Notes receivable 88,973 83,058
Construction receivables, including retentions 21,336 23,933
Construction contract costs and estimated earnings in excess of billings 315 245
Equity method investments 12,821 11,411
Other assets 55,216 55,953
*Total Assets* $ 1,101,789 $ 1,043,123
*LIABILITIES AND EQUITY*
Indebtedness, net $ 589,634 $ 517,272
Accounts payable and accrued liabilities 11,333 15,180
Construction payables, including retentions 41,516 47,445
Billings in excess of construction contract costs and estimated earnings 2,235 3,591
Other liabilities 40,170 39,352
*Total Liabilities* 684,888 622,840
*Total Equity* 416,901 420,283
*Total Liabilities and Equity* $ 1,101,789 $ 1,043,123
ARMADA HOFFLER PROPERTIES, INC.
CONDENSED CONSOLIDATED INCOME STATEMENTS
(in thousands, except per share amounts)
*Three Months Ended March 31,*
*2018* *2017*
*(Unaudited)*
*Revenues*
Rental revenues $ 28,699 $ 27,232
General contracting and real estate services revenues 23,050 63,519
*Total revenues* 51,749 90,751
*Expenses*
Rental expenses 6,424 6,068
Real estate taxes 2,813 2,509
General contracting and real estate services expenses 22,414 61,196
Depreciation and amortization 9,278 9,475
General and administrative expenses 2,961 2,986
Acquisition, development and other pursuit costs 84 47
Impairment charges — 4
*Total expenses* 43,974 82,285
*Operating income* 7,775 8,466
Interest income 2,232 1,398
Interest expense (4,373 ) (4,535 )
Gain on real estate dispositions — 3,395
Change in fair value of interest rate derivatives 969 294
Other income 114 37
Income before taxes 6,717 9,055
Income tax benefit (provision) 266 (302 )
Net income 6,983 8,753
Net income attributable to noncontrolling interests (1,943 ) (2,817 )
*Net income attributable to stockholders* $ 5,040 $ 5,936
Net income per diluted share and unit $ 0.11 $ 0.16
Weighted average shares and units outstanding 62,538 55,475
ARMADA HOFFLER PROPERTIES, INC.
RECONCILIATION OF NET INCOME TO FFO & NORMALIZED FFO
(in thousands, except per share amounts)
*Three Months Ended
March 31,*
*2018* *2017*
*Net income* *$* *6,983* *$* *8,753*
Depreciation and amortization 9,278 9,475
Gain on operating real estate dispositions — (3,395 )
*Funds From Operations (FFO)* *$* *16,261* *$* *14,833*
Acquisition, development and other pursuit costs 84 47
Impairment charges — 4
Change in fair value of interest rate derivatives (969 ) (294 )
*Normalized FFO* *$* *15,376* *$* *14,590*
*Net income per diluted share and unit* *$* *0.11* *$* *0.16*
*FFO per diluted share and unit* *$* *0.26* *$* *0.27*
*Normalized FFO per diluted share and unit* *$* *0.25* *$* *0.26*
Weighted average common shares and units - diluted 62,538 55,475
*Contact:*
Michael P. O’Hara
Armada Hoffler Properties, Inc.
Chief Financial Officer and Treasurer
Email: MOHara@ArmadaHoffler.com
Phone: (757) 366-6684 Reported by GlobeNewswire 4 hours ago.
*Normalized FFO of $0.25 Per Diluted Share*
*Company Reaffirmed 2018 Full-Year Normalized FFO Guidance*
VIRGINIA BEACH, Va., May 01, 2018 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE:AHH) today announced its results for the quarter ended March 31, 2018 and provided an update on current events.
*Highlights include:*
· Net income of $7.0 million, or $0.11 per diluted share, for the quarter ended March 31, 2018 compared to net income of $8.8 million, or $0.16 per diluted share, for the quarter ended March 31, 2017.· Normalized Funds From Operations (“FFO”) of $15.4 million, or $0.25 per diluted share, for the quarter ended March 31, 2018 compared to Normalized FFO of $14.6 million, or $0.26 per diluted share, for the quarter ended March 31, 2017.· FFO of $16.3 million, or $0.26 per diluted share, for the quarter ended March 31, 2018 compared to FFO of $14.8 million, or $0.27 per diluted share, for the quarter ended March 31, 2017.· Core operating property portfolio occupancy at 95.6% as of March 31, 2018 compared to 94.2% as of December 31, 2017.· During the first quarter of 2018, positive releasing spreads were 7.8% on a GAAP basis and 3% on a cash basis.· The Board of Directors declared a cash dividend of $0.20 per common share for the first quarter of 2018. This represents a 5.3% increase over the prior quarter's cash dividend and the fourth increase in four years, totaling 25% dividend growth during that period.· Added approximately 132,000 square feet of retail space through the acquisitions of Indian Lakes Crossing, a Harris Teeter-anchored center in Virginia Beach, Virginia and Parkway Centre, a Publix-anchored center in Moultrie, Georgia.· After the end of the quarter, the Company entered into an agreement to sell the Wawa parcel at Indian Lakes Crossing for a 5.35% capitalization rate. Once complete, this will bring the Harris Teeter-anchored center to an approximate 8% capitalization rate overall.
Commenting on the Company’s results, Louis Haddad, President and CEO, said, “Next week marks the 5-year anniversary of our IPO. Our growth over the past five years has seen us nearly triple our market cap. We have also more than doubled the total return of the RMS REIT index over the 5-year period. The current environment is one in which our integrated business model typically thrives. We look forward to making several announcements in the near future that will serve to validate our ability to succeed in this economic landscape.”
*Financial Results*
Net income for the first quarter decreased to $7.0 million compared to $8.8 million for the first quarter of 2017. The period-over-period change was primarily due to a $1.7 million decrease in construction segment gross profits, which was driven by both lower revenues and a lower margin in this segment. Additionally, results for the first quarter of 2017 included a $3.4 million gain on the sale of the Greentree Wawa as compared to no property sales during the first quarter of 2018. These decreases to net income were partially offset by higher interest income and a positive change in the fair value of interest rate derivatives.
Normalized FFO for the first quarter increased to $15.4 million compared to $14.6 million for the first quarter of 2017. FFO for the first quarter increased to $16.3 million compared to $14.8 million for the first quarter of 2017. The period-over-period changes in Normalized FFO and FFO were positively impacted by property acquisitions and higher interest income, which were partially offset by declines in construction segment gross profits and Same Store NOI. The temporary decrease in Same Store NOI was impacted by the relocation and expansion of one office tenant to 4525 Main Street, which is not currently included in the Same Store NOI calculation.
*Operating Performance*
At the end of the first quarter, the Company’s office, retail and multifamily core operating property portfolios were 92%, 97% and 96% occupied, respectively.
Total construction contract backlog was $30.7 million at the end of the first quarter.
*Balance Sheet and Financing Activity*
As of March 31, 2018, the Company had $595.6 million of total debt outstanding, including $108.0 million outstanding under its revolving credit facility. Total debt outstanding excludes unamortized GAAP fair value adjustments and deferred financing costs. Approximately 37.3% of the Company’s debt had fixed interest rates or were subject to interest rate swaps as of March 31, 2018. After considering LIBOR interest rate caps with strike prices at or below 225 basis points as of March 31, 2018, 91% of the Company’s debt was fixed or hedged.
During the quarter, the Company began to address the five loans originally schedule to mature during 2018. Both of the Columbus Village loans were paid off, and the Sandbridge Commons loan was extended for five years.
*Outlook*
The Company reaffirmed its 2018 full-year guidance and expects 2018 Normalized FFO in the range of $1.00 to $1.05 per diluted share. The following table outlines the Company’s updated assumptions along with Normalized FFO per diluted share estimates for the full-year 2018.
*Full-year 2018 Guidance ^[1]* *Expected Ranges*
Total NOI $79.5M $80.2M
Construction company annual segment gross profit $4.4M $7.5M
General and administrative expenses $10.7M $11.0M
Interest income $9.3M $9.5M
Interest expense ^[2] $19.8M $20.3M
Normalized FFO per diluted share ^[3] $1.00 $1.05
^[1] Includes the acquisition of one additional retail center, the disposition of the Wawa outparcel at Indian Lakes Crossing, and additional shares that may be issued under the ATM Program, assuming favorable market conditions.
^[2] Interest expense is calculated based on the Forward LIBOR Curve, which forecasts rates rising to 2.25% by year end.
^[3] Normalized FFO excludes certain items, including debt extinguishment losses, acquisition, development and other pursuit costs, mark-to-market adjustments for interest rate derivatives and other non-comparable items. See “Non-GAAP Financial Measures.” In addition, the calculation of Normalized FFO per diluted share assumes 63.6 million weighted average shares and units outstanding. The Company does not provide a reconciliation for its guidance range of Normalized FFO per diluted share to net income per diluted share, the most directly comparable forward-looking GAAP financial measure, because it is unable to provide a meaningful or accurate estimate of reconciling items and the information is not available without unreasonable effort as a result of the inherent difficulty of forecasting the timing and/or amounts of various items that would impact net income per diluted share. For the same reasons, the Company is unable to address the probable significance of the unavailable information and believes that providing a reconciliation for its guidance range of Normalized FFO per diluted share would imply a degree of precision for its forward-looking net income per diluted share that could be misleading to investors.
*Supplemental Financial Information*
Further details regarding operating results, properties and leasing statistics can be found in the Company’s supplemental financial package available at www.ArmadaHoffler.com.
*Webcast and Conference Call*
The Company will host a webcast and conference call on Tuesday, May 1, 2018 at 8:30 a.m. Eastern Time to review financial results and discuss recent events. The live webcast will be available through the Investors page of the Company’s website, www.ArmadaHoffler.com. To participate in the call, please dial 877-407-3982 (domestic) or 201-493-6780 (international). A replay of the conference call will be available through Friday, June 1, 2018 by dialing 844-512-2921 (domestic) or 412-317-6671 (international) and entering the pass code 13677669.
*About Armada Hoffler Properties, Inc.*
Armada Hoffler Properties, Inc. (NYSE:AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with nearly four decades of experience developing, building, acquiring and managing high-quality, institutional-grade office, retail and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. The Company also provides general construction and development services to third-party clients, in addition to developing and building properties to be placed in its stabilized portfolio. The Company has elected to be taxed as a REIT for U.S. federal income tax purposes.
*Forward-Looking Statements*
Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statement. These forward-looking statements may include comments relating to the current and future performance of the Company’s operating property portfolio, the Company’s development pipeline, the Company’s construction and development business, including backlog and timing of deliveries, financing activities, as well as acquisitions, dispositions and the Company’s financial outlook and expectations. For a description of factors that may cause the Company’s actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, and the other documents filed by the Company with the Securities and Exchange Commission from time to time.
*Non-GAAP Financial Measures*
The Company calculates FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts (“Nareit”). Nareit defines FFO as net income (loss) (calculated in accordance with GAAP), excluding gains (or losses) from sales of depreciable operating property, real estate related depreciation and amortization (excluding amortization of deferred financing costs) and after adjustments for unconsolidated partnerships and joint ventures.
FFO is a supplemental non-GAAP financial measure. The Company uses FFO as a supplemental performance measure because it believes that FFO is beneficial to investors as a starting point in measuring the Company’s operational performance. Specifically, in excluding real estate related depreciation and amortization and gains and losses from property dispositions, which do not relate to or are not indicative of operating performance, FFO provides a performance measure that, when compared period-over-period, captures trends in occupancy rates, rental rates and operating costs. We also believe that, as a widely recognized measure of the performance of REITs, FFO will be used by investors as a basis to compare the Company’s operating performance with that of other REITs.
However, because FFO excludes depreciation and amortization and captures neither the changes in the value of the Company’s properties that result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of the Company’s properties, all of which have real economic effects and could materially impact the Company’s results from operations, the utility of FFO as a measure of the Company’s performance is limited. In addition, other equity REITs may not calculate FFO in accordance with the Nareit definition as the Company does, and, accordingly, the Company’s FFO may not be comparable to such other REITs’ FFO. Accordingly, FFO should be considered only as a supplement to net income as a measure of the Company’s performance.
Management also believes that the computation of FFO in accordance with Nareit’s definition includes certain items that are not indicative of the results provided by the Company’s operating property portfolio and affect the comparability of the Company’s period-over-period performance. Accordingly, management believes that Normalized FFO is a more useful performance measure that excludes certain items, including but not limited to, debt extinguishment losses and prepayment penalties, property acquisition, development and other pursuit costs, mark-to-market adjustments for interest rate derivatives and other non-comparable items.
For reference, as an aid in understanding the Company’s computation of FFO and Normalized FFO, a reconciliation of net income calculated in accordance with GAAP to FFO and Normalized FFO has been included in the final page of this release.
ARMADA HOFFLER PROPERTIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(dollars in thousands)
*March 31, 2018* *December 31, 2017*
*(Unaudited)*
*ASSETS*
Real estate investments:
Income producing property $ 936,579 $ 910,686
Held for development 1,473 680
Construction in progress 120,850 83,071
Accumulated depreciation (171,205 ) (164,521 )
Net real estate investments 887,697 829,916
Cash and cash equivalents 15,804 19,959
Restricted cash 3,502 2,957
Accounts receivable, net 16,125 15,691
Notes receivable 88,973 83,058
Construction receivables, including retentions 21,336 23,933
Construction contract costs and estimated earnings in excess of billings 315 245
Equity method investments 12,821 11,411
Other assets 55,216 55,953
*Total Assets* $ 1,101,789 $ 1,043,123
*LIABILITIES AND EQUITY*
Indebtedness, net $ 589,634 $ 517,272
Accounts payable and accrued liabilities 11,333 15,180
Construction payables, including retentions 41,516 47,445
Billings in excess of construction contract costs and estimated earnings 2,235 3,591
Other liabilities 40,170 39,352
*Total Liabilities* 684,888 622,840
*Total Equity* 416,901 420,283
*Total Liabilities and Equity* $ 1,101,789 $ 1,043,123
ARMADA HOFFLER PROPERTIES, INC.
CONDENSED CONSOLIDATED INCOME STATEMENTS
(in thousands, except per share amounts)
*Three Months Ended March 31,*
*2018* *2017*
*(Unaudited)*
*Revenues*
Rental revenues $ 28,699 $ 27,232
General contracting and real estate services revenues 23,050 63,519
*Total revenues* 51,749 90,751
*Expenses*
Rental expenses 6,424 6,068
Real estate taxes 2,813 2,509
General contracting and real estate services expenses 22,414 61,196
Depreciation and amortization 9,278 9,475
General and administrative expenses 2,961 2,986
Acquisition, development and other pursuit costs 84 47
Impairment charges — 4
*Total expenses* 43,974 82,285
*Operating income* 7,775 8,466
Interest income 2,232 1,398
Interest expense (4,373 ) (4,535 )
Gain on real estate dispositions — 3,395
Change in fair value of interest rate derivatives 969 294
Other income 114 37
Income before taxes 6,717 9,055
Income tax benefit (provision) 266 (302 )
Net income 6,983 8,753
Net income attributable to noncontrolling interests (1,943 ) (2,817 )
*Net income attributable to stockholders* $ 5,040 $ 5,936
Net income per diluted share and unit $ 0.11 $ 0.16
Weighted average shares and units outstanding 62,538 55,475
ARMADA HOFFLER PROPERTIES, INC.
RECONCILIATION OF NET INCOME TO FFO & NORMALIZED FFO
(in thousands, except per share amounts)
*Three Months Ended
March 31,*
*2018* *2017*
*Net income* *$* *6,983* *$* *8,753*
Depreciation and amortization 9,278 9,475
Gain on operating real estate dispositions — (3,395 )
*Funds From Operations (FFO)* *$* *16,261* *$* *14,833*
Acquisition, development and other pursuit costs 84 47
Impairment charges — 4
Change in fair value of interest rate derivatives (969 ) (294 )
*Normalized FFO* *$* *15,376* *$* *14,590*
*Net income per diluted share and unit* *$* *0.11* *$* *0.16*
*FFO per diluted share and unit* *$* *0.26* *$* *0.27*
*Normalized FFO per diluted share and unit* *$* *0.25* *$* *0.26*
Weighted average common shares and units - diluted 62,538 55,475
*Contact:*
Michael P. O’Hara
Armada Hoffler Properties, Inc.
Chief Financial Officer and Treasurer
Email: MOHara@ArmadaHoffler.com
Phone: (757) 366-6684 Reported by GlobeNewswire 4 hours ago.
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2018 Asthma Capitals Report Ranks the Most Challenging Cities in the U.S. for Asthma
Report Identifies "Asthma Belts" in Ohio and the Eastern Seaboard
Washington, D.C., May 01, 2018 (GLOBE NEWSWIRE) -- Today, on World Asthma Day, the Asthma and Allergy Foundation of America (AAFA), a leading patient advocacy organization in the United States representing more than 60 million Americans with asthma or allergies, released its 2018 Asthma Capitals™ report. The report identifies the 100 most challenging places to live with asthma in the U.S.
Springfield, Massachusetts, is the most challenging place in the U.S. to live with asthma. It ranked #1 for its high asthma prevalence and high number of asthma-related emergency room visits. The top 20 Asthma Capitals include:
1. Springfield, Massachusetts
2. Richmond, Virginia
3. Dayton, Ohio
4. Philadelphia, Pennsylvania
5. Louisville, Kentucky
6. Cincinnati, Ohio
7. Youngstown, Ohio
8. Birmingham, Alabama
9. Greensboro, North Carolina
10. Toledo, Ohio
11. Boston, Massachusetts
12. Worcester, Massachusetts*
13. Omaha, Nebraska*
14. Milwaukee, Wisconsin
15. Cleveland, Ohio
16. Detroit, Michigan
17. Winston-Salem, North Carolina
18. Akron, Ohio
19. Hartford, Connecticut
20. New York, New York
*Tied
To view the complete list of the top 100 cities, visit AsthmaCapitals.com. The 2018 Asthma Capitals™ report is an independent research project of AAFA made possible by Sanofi Genzyme and Regeneron.
Cities are ranked based on asthma-related health outcomes: prevalence, emergency room visits and mortality. The report also looks at risk factors that contribute to these outcomes, including poverty, air quality, access to specialists, pollen counts, medicine use, tobacco policies and the rate of uninsured residents.
“Warmer temperatures from climate change are increasing ground-level ozone levels, especially in more urban, industrialized areas,” says Kenneth Mendez, President and CEO of AAFA. “This, combined with a lack of policies to protect those with asthma living in poorly maintained rental housing and inadequate health care, creates a perfect storm of asthma prevalence. We’ve seen ways communities can make changes to help asthma patients. This report shows us where we can focus to provide solutions to improve the health and quality of life in urban areas for asthma patients."
*“Asthma Belts” Identified*
The report uncovered two distinct patterns, or “Asthma Belts,” that emerge when the top 20 cities are plotted on a map – one in the Ohio-Lake Erie area and the other along the Northeast Mid-Atlantic coast. Seventeen of the top 20 cities on our report fell into these two areas.
“The most eye-opening result from this report is the evidence that we have ‘Asthma Belts’ in our nation,” says Melanie Carver, Vice President of Community Health and Services for AAFA. “These patterns indicate that further examination of these areas is needed on local, state and possibly even federal levels to improve asthma outcomes.”
Educating families who manage asthma – especially those who are at high risk for poor asthma outcomes – is one approach to reducing rates and morbidity in these areas. Each year, AAFA declares May to be National Asthma and Allergy Awareness Month, and a perfect time to educate families about managing asthma.
A proper treatment plan can also improve asthma outcomes. Those with uncontrolled asthma are encouraged to see a board-certified allergist or pulmonologist who can help them manage the disease.
“Although asthma is a lifelong disease, you and your provider will work out an individualized plan to ensure that your asthma is well-controlled while maintaining your current quality of life,” says Kasey Strothman, M.D. and assistant professor of Pediatrics in the Section of Allergy and Immunology Nationwide Children’s Hospital in Columbus, Ohio. “There are certainly challenges which vary from person to person, but your day-to-day actions can make a big impact on your overall health. These include consistent use of your controller medications, avoidance of known triggers and regular follow-ups with your doctor to discuss how your asthma is doing and make changes to your therapy. Pay attention to your symptoms, treat flares early and work on strategies with your doctor to find a plan that works for you and your life.”
*About the Research*
The Asthma Capitals™ ranking is an annual research and educational project of AAFA, designed to help patients recognize, prevent and manage asthma symptoms. Through this ranking, AAFA raises awareness about the impact of asthma and highlights how communities can make improvements to better serve their residents and visitors with asthma. The ranking is based on asthma prevalence, emergency room visits and mortality rates. The report also looks at risk factors, including poverty, air quality and access to specialists. Visit AsthmaCapitals.com to see the full list of 100 cities, methodology and to learn more about asthma management.
*About AAFA*
Founded in 1953 and celebrating 65 years of service, AAFA is the oldest and largest non-profit patient organization dedicated to improving the quality of life for people with asthma, allergies and related conditions through research, education, advocacy and support. AAFA provides practical information and community-based services through its digital communities and national network of local chapters and educational support groups. Through its Kids With Food Allergies division, AAFA offers the most extensive online support community for families raising children with food allergies. AAFA also helps consumers identify products suitable for those with asthma and allergies through the *asthma & allergy friendly®* Certification Program. For more information, visit aafa.org.
CONTACT: Sanaz Eftekhari
Asthma and Allergy Foundation of America
2029741225
sanaz@aafa.org Reported by GlobeNewswire 4 hours ago.
Washington, D.C., May 01, 2018 (GLOBE NEWSWIRE) -- Today, on World Asthma Day, the Asthma and Allergy Foundation of America (AAFA), a leading patient advocacy organization in the United States representing more than 60 million Americans with asthma or allergies, released its 2018 Asthma Capitals™ report. The report identifies the 100 most challenging places to live with asthma in the U.S.
Springfield, Massachusetts, is the most challenging place in the U.S. to live with asthma. It ranked #1 for its high asthma prevalence and high number of asthma-related emergency room visits. The top 20 Asthma Capitals include:
1. Springfield, Massachusetts
2. Richmond, Virginia
3. Dayton, Ohio
4. Philadelphia, Pennsylvania
5. Louisville, Kentucky
6. Cincinnati, Ohio
7. Youngstown, Ohio
8. Birmingham, Alabama
9. Greensboro, North Carolina
10. Toledo, Ohio
11. Boston, Massachusetts
12. Worcester, Massachusetts*
13. Omaha, Nebraska*
14. Milwaukee, Wisconsin
15. Cleveland, Ohio
16. Detroit, Michigan
17. Winston-Salem, North Carolina
18. Akron, Ohio
19. Hartford, Connecticut
20. New York, New York
*Tied
To view the complete list of the top 100 cities, visit AsthmaCapitals.com. The 2018 Asthma Capitals™ report is an independent research project of AAFA made possible by Sanofi Genzyme and Regeneron.
Cities are ranked based on asthma-related health outcomes: prevalence, emergency room visits and mortality. The report also looks at risk factors that contribute to these outcomes, including poverty, air quality, access to specialists, pollen counts, medicine use, tobacco policies and the rate of uninsured residents.
“Warmer temperatures from climate change are increasing ground-level ozone levels, especially in more urban, industrialized areas,” says Kenneth Mendez, President and CEO of AAFA. “This, combined with a lack of policies to protect those with asthma living in poorly maintained rental housing and inadequate health care, creates a perfect storm of asthma prevalence. We’ve seen ways communities can make changes to help asthma patients. This report shows us where we can focus to provide solutions to improve the health and quality of life in urban areas for asthma patients."
*“Asthma Belts” Identified*
The report uncovered two distinct patterns, or “Asthma Belts,” that emerge when the top 20 cities are plotted on a map – one in the Ohio-Lake Erie area and the other along the Northeast Mid-Atlantic coast. Seventeen of the top 20 cities on our report fell into these two areas.
“The most eye-opening result from this report is the evidence that we have ‘Asthma Belts’ in our nation,” says Melanie Carver, Vice President of Community Health and Services for AAFA. “These patterns indicate that further examination of these areas is needed on local, state and possibly even federal levels to improve asthma outcomes.”
Educating families who manage asthma – especially those who are at high risk for poor asthma outcomes – is one approach to reducing rates and morbidity in these areas. Each year, AAFA declares May to be National Asthma and Allergy Awareness Month, and a perfect time to educate families about managing asthma.
A proper treatment plan can also improve asthma outcomes. Those with uncontrolled asthma are encouraged to see a board-certified allergist or pulmonologist who can help them manage the disease.
“Although asthma is a lifelong disease, you and your provider will work out an individualized plan to ensure that your asthma is well-controlled while maintaining your current quality of life,” says Kasey Strothman, M.D. and assistant professor of Pediatrics in the Section of Allergy and Immunology Nationwide Children’s Hospital in Columbus, Ohio. “There are certainly challenges which vary from person to person, but your day-to-day actions can make a big impact on your overall health. These include consistent use of your controller medications, avoidance of known triggers and regular follow-ups with your doctor to discuss how your asthma is doing and make changes to your therapy. Pay attention to your symptoms, treat flares early and work on strategies with your doctor to find a plan that works for you and your life.”
*About the Research*
The Asthma Capitals™ ranking is an annual research and educational project of AAFA, designed to help patients recognize, prevent and manage asthma symptoms. Through this ranking, AAFA raises awareness about the impact of asthma and highlights how communities can make improvements to better serve their residents and visitors with asthma. The ranking is based on asthma prevalence, emergency room visits and mortality rates. The report also looks at risk factors, including poverty, air quality and access to specialists. Visit AsthmaCapitals.com to see the full list of 100 cities, methodology and to learn more about asthma management.
*About AAFA*
Founded in 1953 and celebrating 65 years of service, AAFA is the oldest and largest non-profit patient organization dedicated to improving the quality of life for people with asthma, allergies and related conditions through research, education, advocacy and support. AAFA provides practical information and community-based services through its digital communities and national network of local chapters and educational support groups. Through its Kids With Food Allergies division, AAFA offers the most extensive online support community for families raising children with food allergies. AAFA also helps consumers identify products suitable for those with asthma and allergies through the *asthma & allergy friendly®* Certification Program. For more information, visit aafa.org.
CONTACT: Sanaz Eftekhari
Asthma and Allergy Foundation of America
2029741225
sanaz@aafa.org Reported by GlobeNewswire 4 hours ago.
↧
Winchester Homes Names Bradley Blank as New President
Blank will lead the company as it continues to grow and thrive in the Maryland and Northern Virginia markets
BETHESDA, Md., May 01, 2018 (GLOBE NEWSWIRE) -- Winchester Homes, a member of the TRI Pointe Group family of premium regional homebuilders, has named Bradley W. Blank as President of the Maryland-based homebuilding brand. Blank brings a unique perspective on the company’s operations at both a divisional and corporate level, most recently serving as Vice President, General Counsel, and Secretary at TRI Pointe Group. Blank played a strategic role in the company’s fast-paced growth following the 2014 Weyerhaeuser Real Estate Company merger, which brought Winchester Homes and four other homebuilding brands into TRI Pointe’s family of homebuilders.“Brad’s intimate knowledge and firsthand experience of TRI Pointe Group’s strategies at a national and regional level, coupled with his understanding of both operational goals and corporate culture, make him perfectly suited to step into this leadership role at Winchester Homes,” said TRI Pointe Group CEO Doug Bauer.
“I’m thrilled to be joining the Winchester team and look forward to accelerating the company’s performance and growth in the coming years,” said Blank. “Buyer sentiment is improving in the region and I’m encouraged by the trends we’re seeing at Winchester’s communities.”
Demand in the Maryland and Northern Virginia markets continues to grow. Single-family home permits have increased to 14,499, up 9% from 13,270 one year ago^1, demonstrating the increased production schedule of regional builders.
During this period of regional growth, Blank will focus on innovation with particular emphasis on enhanced design and the adoption of new technology, and continue the company’s culture of valuing existing business and community relationships. Blank aims to grow the company’s market segments, including the expansion of its 55+ community offerings, which currently includes the actively selling Bungalows at Two Rivers and Vistas at Lansdowne communities, and the Birchwood at Brambleton community coming soon.
Under Blank’s direction, these new offerings will enhance the reputation Winchester Homes has earned designing, developing, and building high-quality master planned and infill communities in the Maryland and Northern Virginia markets.
^1 John Burns Real Estate Consulting, Metro Analysis and Forecast 2018
*About Winchester® Homes*
For 35 years, Winchester Homes, Inc. has successfully provided homebuyers with the “Your Home, Your Way®” homebuilding experience. Today, there are more than 20,000 Winchester homes in the mid-Atlantic region, with multiple single-family and townhome communities in the Washington D.C. metro area. Winchester Homes’ unique homebuilding process is focused on delivering superior and high-quality design for its buyers. In addition, Camberley by Winchester Homes is a luxury brand that offers homebuyers unparalleled choice when it comes to selecting their future home. Winchester Homes is a member of TRI Pointe Group®, a family of premium regional homebuilders. TRI Pointe Group is one of the largest homebuilders in the U.S. and was recognized as 2014 Developer of the Year by Builder and Developer magazine and 2015 Builder of the Year by Builder magazine. For more information about Winchester Homes, please visit www.WinchesterHomes.com/.
*Contact*
Katy Biggerstaff
NewGround PR & Marketing
562.761.6338 / kbiggerstaff@newgroundco.com
A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/05865ac7-d528-4bd8-bcaf-1112e5a89f58 Reported by GlobeNewswire 4 hours ago.
BETHESDA, Md., May 01, 2018 (GLOBE NEWSWIRE) -- Winchester Homes, a member of the TRI Pointe Group family of premium regional homebuilders, has named Bradley W. Blank as President of the Maryland-based homebuilding brand. Blank brings a unique perspective on the company’s operations at both a divisional and corporate level, most recently serving as Vice President, General Counsel, and Secretary at TRI Pointe Group. Blank played a strategic role in the company’s fast-paced growth following the 2014 Weyerhaeuser Real Estate Company merger, which brought Winchester Homes and four other homebuilding brands into TRI Pointe’s family of homebuilders.“Brad’s intimate knowledge and firsthand experience of TRI Pointe Group’s strategies at a national and regional level, coupled with his understanding of both operational goals and corporate culture, make him perfectly suited to step into this leadership role at Winchester Homes,” said TRI Pointe Group CEO Doug Bauer.
“I’m thrilled to be joining the Winchester team and look forward to accelerating the company’s performance and growth in the coming years,” said Blank. “Buyer sentiment is improving in the region and I’m encouraged by the trends we’re seeing at Winchester’s communities.”
Demand in the Maryland and Northern Virginia markets continues to grow. Single-family home permits have increased to 14,499, up 9% from 13,270 one year ago^1, demonstrating the increased production schedule of regional builders.
During this period of regional growth, Blank will focus on innovation with particular emphasis on enhanced design and the adoption of new technology, and continue the company’s culture of valuing existing business and community relationships. Blank aims to grow the company’s market segments, including the expansion of its 55+ community offerings, which currently includes the actively selling Bungalows at Two Rivers and Vistas at Lansdowne communities, and the Birchwood at Brambleton community coming soon.
Under Blank’s direction, these new offerings will enhance the reputation Winchester Homes has earned designing, developing, and building high-quality master planned and infill communities in the Maryland and Northern Virginia markets.
^1 John Burns Real Estate Consulting, Metro Analysis and Forecast 2018
*About Winchester® Homes*
For 35 years, Winchester Homes, Inc. has successfully provided homebuyers with the “Your Home, Your Way®” homebuilding experience. Today, there are more than 20,000 Winchester homes in the mid-Atlantic region, with multiple single-family and townhome communities in the Washington D.C. metro area. Winchester Homes’ unique homebuilding process is focused on delivering superior and high-quality design for its buyers. In addition, Camberley by Winchester Homes is a luxury brand that offers homebuyers unparalleled choice when it comes to selecting their future home. Winchester Homes is a member of TRI Pointe Group®, a family of premium regional homebuilders. TRI Pointe Group is one of the largest homebuilders in the U.S. and was recognized as 2014 Developer of the Year by Builder and Developer magazine and 2015 Builder of the Year by Builder magazine. For more information about Winchester Homes, please visit www.WinchesterHomes.com/.
*Contact*
Katy Biggerstaff
NewGround PR & Marketing
562.761.6338 / kbiggerstaff@newgroundco.com
A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/05865ac7-d528-4bd8-bcaf-1112e5a89f58 Reported by GlobeNewswire 4 hours ago.
↧
Kraken Reports 56% Annual Revenue Growth in 2017
Management Targeting at Least a Doubling of Revenue in 2018
ST. JOHN’S, Newfoundland, May 01, 2018 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V:PNG) (OTCQB:KRKNF) announced it has filed its financial results for the fourth quarter and year ended December 31, 2017. Additional information concerning the Company, including its audited consolidated financial statements and related management’s discussion and analysis (“MD&A”) for the year ended December 31, 2017, can be found at www.sedar.com. Unless otherwise stated, all dollar amounts are Canadian dollar denominated.*2017 Highlights*
· Revenue growth of 56% to $3.5 million for the 12 months ended December 30, 2017 versus $2.2 million in 2016;
· Received multi-unit AquaPix® order with a $3 million contract announced in Q3 2017;
· Received $2 million order for a military version of KATFISH™ towed underwater vehicle in Q3 2017;
· Introduced our industry leading SeaVision® laser imaging system, with first commercial shipments expected in 2018;
· Completed our first RaaS job with our ThunderFish® AUV prototype in Q3 2017;
· Signed our first contract for sensors and robotics for ship hull inspections in Q4 2017;
· Saw a successful first year of R&D and business development efforts from our German subsidiary, Kraken Robotik GmbH (*KRG*), which is co-developing sensors and software, including our SeaVision® underwater laser system;
· Our investee company, Kraken Power GmbH, completed its first year of operations under new ownership structure and is seeing strong potential for its deep-sea pressure tolerant batteries and thrusters.
· Kraken Power GmbH recently received initial prototype orders from two multi-billion dollar industrial companies which offer potential for significant revenue, and;
· At year-end 2017, Kraken had $1.7 million of funding awards to draw upon from the National Research Council of Canada Industrial Research Assistance Program (*NRC-IRAP*) and Innovate Newfoundland.
*Subsequent Highlights after Year-End 2017*
· *Completed a non-brokered private placement.* Investors exercised warrants, resulting in gross proceeds of $1.9 million;
· *Pre-qualified for a Build in Canada Innovation Program (BCIP) contract for our **ThunderFish**®** AUV platform, and; *
· *Formed a strategic partnership with US-based defense integrator Thayer Mahan*.
*CEO Comments *
“For 2018, we are targeting at least a doubling of revenue to more than $7 million, after 56% revenue growth in 2017,” said Karl Kenny, Kraken’s President and CEO. “This growth target excludes upside from several, large, multi-unit defense industry bids that are currently in progress.* *We base our forecast on 2017’s significant business development activity that positions us for a step change in top line growth for Kraken’s underwater sensors, systems and services. We are excited about the growth potential for our new products, KATFISH™ and SeaVision,® which are seeing strong interest across both military and commercial markets. Our AquaPix® sensors continue to gain traction in these markets. With the upcoming launch of our Tentacle™ Intelligent Winch products and continued development of the ThunderFish® Autonomous Underwater Vehicles (*AUV*), we are rounding out our sensor and robotics technology portfolio. We believe we are nicely positioned as the defense market undergoes an upgrade cycle and commercial markets are increasing adoption of underwater robotic technology.”
*Outlook for 2018*· *Targeting to at least double revenues in 2018 to more than $7 million*. This target excludes any contribution from the Company’s current major defense bids;
· *Strong KATFISH™ traction*. We are seeing considerable interest from both military and commercial market sectors, and we have bids out representing more than 30 units. To date, we have built three KATFISH™ towed systems. In addition to defense market opportunities, we are seeing emerging opportunities in the oil and gas sector, offshore wind, ocean mapping and science;
· *Launch of Tentacle™ Intelligent Winch products*. Kraken’s Nova Scotia-based Handling Systems Group designs intelligent winches and autonomous launch and recovery systems. After more than two years of development, Kraken expects this group to move into revenue-generating mode during 2018 with product price points ranging from $200,000 to $1 million;
· *First commercial units of SeaVision**® **available for sale at the end of Q2 2018*. SeaVision® is the world’s first red-green-blue (*RGB*) underwater laser imaging system that offers the resolution, range and scan rate to deliver dense full-colour 3D point cloud images of subsea infrastructure in real time, with millimetre accuracy. The initial system is designed for deployment on underwater robotic platforms such as Remotely Operated Vehicles (*ROVs*) and AUVs;
· *Anticipate first major contracts to be awarded to Kraken Robotik GmbH in 2018*;
· *Expect to see first benefits from the Canadian Government’s Ocean Supercluster*. Announced in February 2018, the Ocean Supercluster will see more than $400 million of government and industry contributions over the next 5 years;
· *Continued evolution of the ThunderFish® AUV platform*; and
· *Pursuit of further Robotics as a Service (RaaS) contracts*
*Transition to IFRS 15 revenue recognition rules. *While not affecting cash flows, implementation of new revenue recognition rules will negatively affect the timing of reported revenue as it ends the use of “percentage of completion” accounting. Annual revenues will be more back-end loaded, and quarterly revenues will be lumpy. Notwithstanding our positive revenue outlook, we anticipate a soft Q1.
*ABOUT KRAKEN ROBOTICS INC.*
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB:KRKNF) is a marine technology company that is dedicated to the production and sale of software-centric sensors and underwater robotic systems. The company is headquartered in St. John’s, Newfoundland with offices in Dartmouth, Nova Scotia; Bremen, Germany; and Fairfax, Virginia. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter. For more information, please visit www.krakenrobotics.com, www.krakenrobotik.de, www.krakenpower.de. Find us on social media on Twitter (@krakenrobotics), Facebook (@krakenroboticsinc) and LinkedIn.
Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.
For further information, please contact:
Greg Reid, Chief Financial Officer
(416) 818-9822
greid@krakenrobotics.com
Sean Peasgood, Investor Relations
(647) 955-1274
sean@sophiccapital.com
Glenda Leyte, Marketing Manager
(709) 757-5757 extension 288
gleyte@krakenrobotics.com
Reported by GlobeNewswire 4 hours ago.
ST. JOHN’S, Newfoundland, May 01, 2018 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V:PNG) (OTCQB:KRKNF) announced it has filed its financial results for the fourth quarter and year ended December 31, 2017. Additional information concerning the Company, including its audited consolidated financial statements and related management’s discussion and analysis (“MD&A”) for the year ended December 31, 2017, can be found at www.sedar.com. Unless otherwise stated, all dollar amounts are Canadian dollar denominated.*2017 Highlights*
· Revenue growth of 56% to $3.5 million for the 12 months ended December 30, 2017 versus $2.2 million in 2016;
· Received multi-unit AquaPix® order with a $3 million contract announced in Q3 2017;
· Received $2 million order for a military version of KATFISH™ towed underwater vehicle in Q3 2017;
· Introduced our industry leading SeaVision® laser imaging system, with first commercial shipments expected in 2018;
· Completed our first RaaS job with our ThunderFish® AUV prototype in Q3 2017;
· Signed our first contract for sensors and robotics for ship hull inspections in Q4 2017;
· Saw a successful first year of R&D and business development efforts from our German subsidiary, Kraken Robotik GmbH (*KRG*), which is co-developing sensors and software, including our SeaVision® underwater laser system;
· Our investee company, Kraken Power GmbH, completed its first year of operations under new ownership structure and is seeing strong potential for its deep-sea pressure tolerant batteries and thrusters.
· Kraken Power GmbH recently received initial prototype orders from two multi-billion dollar industrial companies which offer potential for significant revenue, and;
· At year-end 2017, Kraken had $1.7 million of funding awards to draw upon from the National Research Council of Canada Industrial Research Assistance Program (*NRC-IRAP*) and Innovate Newfoundland.
*Subsequent Highlights after Year-End 2017*
· *Completed a non-brokered private placement.* Investors exercised warrants, resulting in gross proceeds of $1.9 million;
· *Pre-qualified for a Build in Canada Innovation Program (BCIP) contract for our **ThunderFish**®** AUV platform, and; *
· *Formed a strategic partnership with US-based defense integrator Thayer Mahan*.
*CEO Comments *
“For 2018, we are targeting at least a doubling of revenue to more than $7 million, after 56% revenue growth in 2017,” said Karl Kenny, Kraken’s President and CEO. “This growth target excludes upside from several, large, multi-unit defense industry bids that are currently in progress.* *We base our forecast on 2017’s significant business development activity that positions us for a step change in top line growth for Kraken’s underwater sensors, systems and services. We are excited about the growth potential for our new products, KATFISH™ and SeaVision,® which are seeing strong interest across both military and commercial markets. Our AquaPix® sensors continue to gain traction in these markets. With the upcoming launch of our Tentacle™ Intelligent Winch products and continued development of the ThunderFish® Autonomous Underwater Vehicles (*AUV*), we are rounding out our sensor and robotics technology portfolio. We believe we are nicely positioned as the defense market undergoes an upgrade cycle and commercial markets are increasing adoption of underwater robotic technology.”
*Outlook for 2018*· *Targeting to at least double revenues in 2018 to more than $7 million*. This target excludes any contribution from the Company’s current major defense bids;
· *Strong KATFISH™ traction*. We are seeing considerable interest from both military and commercial market sectors, and we have bids out representing more than 30 units. To date, we have built three KATFISH™ towed systems. In addition to defense market opportunities, we are seeing emerging opportunities in the oil and gas sector, offshore wind, ocean mapping and science;
· *Launch of Tentacle™ Intelligent Winch products*. Kraken’s Nova Scotia-based Handling Systems Group designs intelligent winches and autonomous launch and recovery systems. After more than two years of development, Kraken expects this group to move into revenue-generating mode during 2018 with product price points ranging from $200,000 to $1 million;
· *First commercial units of SeaVision**® **available for sale at the end of Q2 2018*. SeaVision® is the world’s first red-green-blue (*RGB*) underwater laser imaging system that offers the resolution, range and scan rate to deliver dense full-colour 3D point cloud images of subsea infrastructure in real time, with millimetre accuracy. The initial system is designed for deployment on underwater robotic platforms such as Remotely Operated Vehicles (*ROVs*) and AUVs;
· *Anticipate first major contracts to be awarded to Kraken Robotik GmbH in 2018*;
· *Expect to see first benefits from the Canadian Government’s Ocean Supercluster*. Announced in February 2018, the Ocean Supercluster will see more than $400 million of government and industry contributions over the next 5 years;
· *Continued evolution of the ThunderFish® AUV platform*; and
· *Pursuit of further Robotics as a Service (RaaS) contracts*
*Transition to IFRS 15 revenue recognition rules. *While not affecting cash flows, implementation of new revenue recognition rules will negatively affect the timing of reported revenue as it ends the use of “percentage of completion” accounting. Annual revenues will be more back-end loaded, and quarterly revenues will be lumpy. Notwithstanding our positive revenue outlook, we anticipate a soft Q1.
*ABOUT KRAKEN ROBOTICS INC.*
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB:KRKNF) is a marine technology company that is dedicated to the production and sale of software-centric sensors and underwater robotic systems. The company is headquartered in St. John’s, Newfoundland with offices in Dartmouth, Nova Scotia; Bremen, Germany; and Fairfax, Virginia. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter. For more information, please visit www.krakenrobotics.com, www.krakenrobotik.de, www.krakenpower.de. Find us on social media on Twitter (@krakenrobotics), Facebook (@krakenroboticsinc) and LinkedIn.
Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.
For further information, please contact:
Greg Reid, Chief Financial Officer
(416) 818-9822
greid@krakenrobotics.com
Sean Peasgood, Investor Relations
(647) 955-1274
sean@sophiccapital.com
Glenda Leyte, Marketing Manager
(709) 757-5757 extension 288
gleyte@krakenrobotics.com
Reported by GlobeNewswire 4 hours ago.
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Virginia Ironside on new partial replacements
Agony aunt VIRGINIA IRONSIDE discusses the new partial replacements that get you quickly back on your feet - after she got one herself.
Reported by MailOnline 3 hours ago.
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Armada Hoffler Properties: 1Q Earnings Snapshot
VIRGINIA BEACH, Va.
Reported by FOXNews.com 3 hours ago.
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Commuter train in Virginia seriously injures pedestrian
WOODBRIDGE, Va. (AP) — A pedestrian in Virginia has been seriously injured by a commuter train. The Washington Post reports that Virginia Railway Express says the pedestrian was struck near a Woodbridge station by a train headed to Fredericksburg. The pedestrian was reportedly walking along the tracks less than a mile from the station. Prince […]
Reported by Seattle Times 3 hours ago.
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West Virginia Republican Senate hopefuls near primary: A look at the top three candidates
Considered a toss-up in the midterm elections, the West Virginia Senate race is one where Republicans hope to have the chance to unseat incumbent Joe Manchin, a Democrat who first won the seat in a 2010 special election.
Reported by FOXNews.com 2 hours ago.
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Itronics Announces Exclusive Option to Purchase 48 Acre, 54,000 Square Foot Manufacturing Facility
Facility Provides Land, Buildings, and Rail Service to Support Large-Scale Commercial Expansion at Site at Wabuska, Nevada
RENO, Nev., May 01, 2018 (GLOBE NEWSWIRE) -- Itronics Inc. (OTC:ITRO), a diversified zinc fertilizer and silver producing green technology Company, today announced that it has acquired an exclusive 6 month option (which can be extended 6 months if needed) to purchase a manufacturing facility located at Wabuska, Nevada. "This is a long term strategic site acquisition for commercial expansion of Itronics' unique portfolio of 'Zero Waste Technologies,'" said Dr. John Whitney, President.Primary among these technologies are the new hydrometallurgical processes for leaching iron (FeLix Process), zinc (ZinLix Process), and sulfur (SuLix Process) for use in production of GOLD’n GRO micronutrient fertilizers, and high silver content concentrates for e-scrap refining. The Company does not have enough room at its Reno manufacturing facility to set up and operate complete prototype processing circuits to develop engineering data to support construction of commercial scale operating units. The Wabuska location provides adequate space to expand and continue developing these technologies to large commercial scale.
A high priority for Itronics is to perform the pilot scale testing using the ZinLix process to convert zinc flue dust to provide a low cost source of zinc for GOLD’n GRO zinc micronutrient fertilizer manufacturing, the ability to ship these fertilizers in bulk by rail throughout the United States, and to produce zinc and byproduct metals including silver and gold. The other application that will be high priority is to expand the FeLix and SuLix processes to handle large quantities of precious metal bearing precipitates that will be produced by commercial use of the KAM-Thio technology at silver/gold mine sites. The silver recovered from these precipitates will be used to support expansion of e-scrap refining. The Wabuska site is suitable for installation of a large commercial scale e-scrap processing operation and for installation of operations to refine precious metals and base metals recovered, at a scale required by the processing and recycling operations.The site is already zoned for fertilizer manufacturing, chemical manufacturing, and foundry operations and special use permits will be required for specific operations. The facility is on 48 acres, has five buildings with 54,000 square feet under roof, has six dry product silos and two vertical liquid tanks, and is adjacent to a rail siding. Zinc flue dusts are fine powders and can be delivered in rail hopper cars and stored in the product silos. The product silos are fully equipped, including a conveyor system to transport the zinc flue dust powder into one of the existing buildings on site.The exclusive purchase option also includes more than eight acre feet of water rights. There are two water wells on the site along with a lined fresh water pond, and a lined process water pond for which the permits are active. Site infrastructure includes electric power and natural gas.The Wabuska site, located about 75 miles southeast of Reno, Nevada, is about 12 miles north of Yerington, Nevada on the north side of the Yerington copper mining district with its large undeveloped copper deposits, and is about 10 miles east of the Company’s Fulstone copper, zinc, silver, gold, iron, and industrial mineral exploration property.“The Wabuska site is strategically located and is already configured and zoned for uses that are a perfect fit for expansion of Itronics breakthrough 'Zero Waste' technologies at commercial scale,” said Dr. Whitney. "We are pleased that the seller has been willing to work with Itronics to make this $1.6 million purchase option possible. We are also pleased and excited to be able to expand our technology operations at commercial scale at a highly desirable strategic location in northern Nevada.”Itronics plans to use the exclusive option period to complete validation of water rights, special use permit requirements, and other regulatory issues that will need to be assumed with purchase of the property. The Company will also begin detailed planning for occupying the property within a period that will be defined in part by special use permit requirements and the elapsed time required to obtain such permits.
**About Itronics
**Headquartered in Reno, Nevada, Itronics Inc. is a “Creative Green Technology” Company which produces GOLD’n GRO specialty liquid fertilizers, silver bullion, and silver-bearing glass. The Company’s goal is to achieve profitable green technology driven organic growth in specialty GOLD’n GRO fertilizers, silver, zinc, and minerals. The Company’s technologies maximize the recovery and uses of metals and minerals and by doing this it maximizes sustainability.
Through its subsidiary, Itronics Metallurgical, Inc., Itronics is the only company with a fully permitted “Beneficial Use Photochemical, Silver, and Water Recycling” plant in the United States that converts 100 percent of the spent photoliquids into GOLD’n GRO liquid fertilizers, silver bullion, and silver bearing glass. This is internationally recognized award winning “Zero Waste” Technology. The Company is developing a portfolio of environmentally beneficial “Zero waste” processing and mining technologies. Itronics has received numerous domestic and international awards that recognize its ability to successfully use chemical science and engineering to create and implement new environmentally green recycling and fertilizer technologies.
The Company's environmentally friendly award winning GOLD'n GRO liquid fertilizers, which are extensively used in agriculture, can be used for lawns and houseplants, and are available at the Company's "e-store" on Amazon.Com. Due to expanded retail customer interest, GOLD'n GRO fertilizer may now be purchased in Reno, Nevada at the "Buy Nevada First Gift Shop" at 4001 S. Virginia St.
Follow Itronics on Facebook: https://www.facebook.com/itronicsinc
Follow Itronics on Twitter: https://twitter.com/itronicsinc
** * * * * * * * * **
VISIT OUR WEB SITE: http://www.itronics.com
("Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.)
Contact: Paul Knopick
888.795.6336 Reported by GlobeNewswire 2 hours ago.
RENO, Nev., May 01, 2018 (GLOBE NEWSWIRE) -- Itronics Inc. (OTC:ITRO), a diversified zinc fertilizer and silver producing green technology Company, today announced that it has acquired an exclusive 6 month option (which can be extended 6 months if needed) to purchase a manufacturing facility located at Wabuska, Nevada. "This is a long term strategic site acquisition for commercial expansion of Itronics' unique portfolio of 'Zero Waste Technologies,'" said Dr. John Whitney, President.Primary among these technologies are the new hydrometallurgical processes for leaching iron (FeLix Process), zinc (ZinLix Process), and sulfur (SuLix Process) for use in production of GOLD’n GRO micronutrient fertilizers, and high silver content concentrates for e-scrap refining. The Company does not have enough room at its Reno manufacturing facility to set up and operate complete prototype processing circuits to develop engineering data to support construction of commercial scale operating units. The Wabuska location provides adequate space to expand and continue developing these technologies to large commercial scale.
A high priority for Itronics is to perform the pilot scale testing using the ZinLix process to convert zinc flue dust to provide a low cost source of zinc for GOLD’n GRO zinc micronutrient fertilizer manufacturing, the ability to ship these fertilizers in bulk by rail throughout the United States, and to produce zinc and byproduct metals including silver and gold. The other application that will be high priority is to expand the FeLix and SuLix processes to handle large quantities of precious metal bearing precipitates that will be produced by commercial use of the KAM-Thio technology at silver/gold mine sites. The silver recovered from these precipitates will be used to support expansion of e-scrap refining. The Wabuska site is suitable for installation of a large commercial scale e-scrap processing operation and for installation of operations to refine precious metals and base metals recovered, at a scale required by the processing and recycling operations.The site is already zoned for fertilizer manufacturing, chemical manufacturing, and foundry operations and special use permits will be required for specific operations. The facility is on 48 acres, has five buildings with 54,000 square feet under roof, has six dry product silos and two vertical liquid tanks, and is adjacent to a rail siding. Zinc flue dusts are fine powders and can be delivered in rail hopper cars and stored in the product silos. The product silos are fully equipped, including a conveyor system to transport the zinc flue dust powder into one of the existing buildings on site.The exclusive purchase option also includes more than eight acre feet of water rights. There are two water wells on the site along with a lined fresh water pond, and a lined process water pond for which the permits are active. Site infrastructure includes electric power and natural gas.The Wabuska site, located about 75 miles southeast of Reno, Nevada, is about 12 miles north of Yerington, Nevada on the north side of the Yerington copper mining district with its large undeveloped copper deposits, and is about 10 miles east of the Company’s Fulstone copper, zinc, silver, gold, iron, and industrial mineral exploration property.“The Wabuska site is strategically located and is already configured and zoned for uses that are a perfect fit for expansion of Itronics breakthrough 'Zero Waste' technologies at commercial scale,” said Dr. Whitney. "We are pleased that the seller has been willing to work with Itronics to make this $1.6 million purchase option possible. We are also pleased and excited to be able to expand our technology operations at commercial scale at a highly desirable strategic location in northern Nevada.”Itronics plans to use the exclusive option period to complete validation of water rights, special use permit requirements, and other regulatory issues that will need to be assumed with purchase of the property. The Company will also begin detailed planning for occupying the property within a period that will be defined in part by special use permit requirements and the elapsed time required to obtain such permits.
**About Itronics
**Headquartered in Reno, Nevada, Itronics Inc. is a “Creative Green Technology” Company which produces GOLD’n GRO specialty liquid fertilizers, silver bullion, and silver-bearing glass. The Company’s goal is to achieve profitable green technology driven organic growth in specialty GOLD’n GRO fertilizers, silver, zinc, and minerals. The Company’s technologies maximize the recovery and uses of metals and minerals and by doing this it maximizes sustainability.
Through its subsidiary, Itronics Metallurgical, Inc., Itronics is the only company with a fully permitted “Beneficial Use Photochemical, Silver, and Water Recycling” plant in the United States that converts 100 percent of the spent photoliquids into GOLD’n GRO liquid fertilizers, silver bullion, and silver bearing glass. This is internationally recognized award winning “Zero Waste” Technology. The Company is developing a portfolio of environmentally beneficial “Zero waste” processing and mining technologies. Itronics has received numerous domestic and international awards that recognize its ability to successfully use chemical science and engineering to create and implement new environmentally green recycling and fertilizer technologies.
The Company's environmentally friendly award winning GOLD'n GRO liquid fertilizers, which are extensively used in agriculture, can be used for lawns and houseplants, and are available at the Company's "e-store" on Amazon.Com. Due to expanded retail customer interest, GOLD'n GRO fertilizer may now be purchased in Reno, Nevada at the "Buy Nevada First Gift Shop" at 4001 S. Virginia St.
Follow Itronics on Facebook: https://www.facebook.com/itronicsinc
Follow Itronics on Twitter: https://twitter.com/itronicsinc
** * * * * * * * * **
VISIT OUR WEB SITE: http://www.itronics.com
("Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.)
Contact: Paul Knopick
888.795.6336 Reported by GlobeNewswire 2 hours ago.
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Customers Bank Opens Washington, D.C. Private & Commercial Banking Office and Adds Ronald K. Hobson to their Roster
WASHINGTON, May 01, 2018 (GLOBE NEWSWIRE) -- Customers Bank, a leading super-community bank with operations in Pennsylvania, District of Columbia, Illinois, New York, New Jersey and New England, is pleased to announce that its new Washington, D.C. office, part of the Bank’s Private and Commercial Banking division, is now open for business.The limited-purpose office, which was first announced last summer, combines the bank’s expertise in private and commercial banking with personalized solutions and access to a wide range of financial services from a single source. These services include loan production for commercial, industrial, consumer and real estate lending, as well as corporate cash management, credit cards, merchant processing, and business and private personal banking, all leveraging the bank’s proven high-tech, high-touch, single-point-of-contact model.
“Our success in major urban markets supports our belief that private and commercial customers are increasingly demanding tailored product and service choices that reflect their needs – which are heavily driven by evolving local market conditions and trends,” said Jay Sidhu, Chairman and CEO of Customers Bank. “While we’ll continue to provide best-in-class technology solutions that permit customers to bank how they want, when they want, having a local office gives our growing customer base in D.C. the flexibility to work with banking professionals that they know and trust. Our customers work directly with their relationship bankers through a single-point-of-contact.”
Banking veteran Travis L. Gray was appointed Senior Vice President and Banking Group Head of the first Washington, D.C. banking group. Prior to joining Customers Bank, Gray served as Senior Vice President and National Sales Executive at Bank of America Global Commercial and Investment Bank, where he built and oversaw the management and growth of a $1.1 billion asset finance business.
Ronald K. Hobson will join Gray’s D.C. banking group as Senior Vice President and Client Manager. Hobson is a veteran banker with over 30 years of commercial banking experience, most recently serving as Senior Vice President at Main Street Bank. He worked in the Clinton Administration as the Associate Deputy Administrator for Government Contracting and Minority Enterprise Development at the U.S. Small Business Administration, where he oversaw the nation’s $6 billion SBA business development program, and later served as Associate Director at the Office of the Under Secretary of Defense, Small and Disadvantaged Business Utilization at the Department of Defense. Hobson is widely known in the Washington, D.C. market as an advocate for promoting and developing small business entrepreneurs. He has also served at the Pentagon as a non-commissioned officer in U.S. Army Intelligence. Hobson actively supports numerous community-based organizations, including a role as member and Chairman of the Board, respectively, of the Northern Virginia Urban League.
"Travis Gray and his group are amongst the most skilled and highly regarded veteran bankers in the District’s Metro area and they will help lead our entry into our Nation’s capital,” said George Maroulis, Managing Director, Executive Vice President and Head of Customers Bank’s Private and Commercial Banking Division. "Customers Bank is dedicated to providing exceptional customer service and the products and services that businesses need. We look forward to partnering with local community groups to help bolster their missions and expand their outreach, as active corporate citizens of the broader communities in which we serve,” added Maroulis.
*About Customers Bank*
Customers Bancorp, Inc. is a bank holding company located in Wyomissing, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank. Customers Bank is a community-based, full-service bank with assets of approximately $10.8 billion as of March 31, 2018. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking services to small and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, District of Columbia, Illinois, New York, Rhode Island, Massachusetts, New Hampshire, and New Jersey. Committed to fostering customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as Single Point of Contact banking by appointment at customers’ homes or offices 12 hours a day, seven days a week. Customers Bank offers a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers. Customers Bancorp, Inc. voting common shares are listed on the New York Stock Exchange under the symbol CUBI. Additional information about Customers Bancorp, Inc. can be found on the Company's website, www.customersbank.com.
*Contacts:*
*Richard Ehst, President & COO *
*610-505-9190* Reported by GlobeNewswire 2 hours ago.
“Our success in major urban markets supports our belief that private and commercial customers are increasingly demanding tailored product and service choices that reflect their needs – which are heavily driven by evolving local market conditions and trends,” said Jay Sidhu, Chairman and CEO of Customers Bank. “While we’ll continue to provide best-in-class technology solutions that permit customers to bank how they want, when they want, having a local office gives our growing customer base in D.C. the flexibility to work with banking professionals that they know and trust. Our customers work directly with their relationship bankers through a single-point-of-contact.”
Banking veteran Travis L. Gray was appointed Senior Vice President and Banking Group Head of the first Washington, D.C. banking group. Prior to joining Customers Bank, Gray served as Senior Vice President and National Sales Executive at Bank of America Global Commercial and Investment Bank, where he built and oversaw the management and growth of a $1.1 billion asset finance business.
Ronald K. Hobson will join Gray’s D.C. banking group as Senior Vice President and Client Manager. Hobson is a veteran banker with over 30 years of commercial banking experience, most recently serving as Senior Vice President at Main Street Bank. He worked in the Clinton Administration as the Associate Deputy Administrator for Government Contracting and Minority Enterprise Development at the U.S. Small Business Administration, where he oversaw the nation’s $6 billion SBA business development program, and later served as Associate Director at the Office of the Under Secretary of Defense, Small and Disadvantaged Business Utilization at the Department of Defense. Hobson is widely known in the Washington, D.C. market as an advocate for promoting and developing small business entrepreneurs. He has also served at the Pentagon as a non-commissioned officer in U.S. Army Intelligence. Hobson actively supports numerous community-based organizations, including a role as member and Chairman of the Board, respectively, of the Northern Virginia Urban League.
"Travis Gray and his group are amongst the most skilled and highly regarded veteran bankers in the District’s Metro area and they will help lead our entry into our Nation’s capital,” said George Maroulis, Managing Director, Executive Vice President and Head of Customers Bank’s Private and Commercial Banking Division. "Customers Bank is dedicated to providing exceptional customer service and the products and services that businesses need. We look forward to partnering with local community groups to help bolster their missions and expand their outreach, as active corporate citizens of the broader communities in which we serve,” added Maroulis.
*About Customers Bank*
Customers Bancorp, Inc. is a bank holding company located in Wyomissing, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank. Customers Bank is a community-based, full-service bank with assets of approximately $10.8 billion as of March 31, 2018. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking services to small and medium-sized businesses, professionals, individuals and families through offices in Pennsylvania, District of Columbia, Illinois, New York, Rhode Island, Massachusetts, New Hampshire, and New Jersey. Committed to fostering customer loyalty, Customers Bank uses a High Tech/High Touch strategy that includes use of industry-leading technology to provide customers better access to their money, as well as Single Point of Contact banking by appointment at customers’ homes or offices 12 hours a day, seven days a week. Customers Bank offers a continually expanding portfolio of loans to small businesses, multi-family projects, mortgage companies and consumers. Customers Bancorp, Inc. voting common shares are listed on the New York Stock Exchange under the symbol CUBI. Additional information about Customers Bancorp, Inc. can be found on the Company's website, www.customersbank.com.
*Contacts:*
*Richard Ehst, President & COO *
*610-505-9190* Reported by GlobeNewswire 2 hours ago.
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Five Military Spouses Can Win a Free Event Planning Franchise
EventPrep, Inc. is launching its inaugural OPERATION: EventPrep $200,000 Franchise GiveAway for Military Spouses on May 1, 2018, giving five deserving active duty military spouses the opportunity to join the ranks as an EventPrep franchise owner at no cost.
MERRITT ISLAND, Fla. (PRWEB) May 01, 2018
The job hunt is over for military spouses who have difficulty finding a sustainable job because of frequent Permanent Change of Station (PCS) moves. Home-based event planning franchise EventPrep® is offering a unique opportunity where military spouses can begin a new career in the hospitality industry as a small business owner, providing professional event planning and management services with no territory limitations. The GiveAway ends Monday, September 14, 2018.
“Military spouses are the perfect candidates to become event planning franchise owners,” said Paul Trapp, EventPrep’s Chief Executive Officer and Service Disabled Veteran. “Owning a home-based event planning franchise such as EventPrep® affords military spouses the flexibility to start and keep a new career as they move around the world while using their personal travel experiences and connections as a foundation for growing their business.”
The 2016 Military Lifestyle Survey conducted by the nonprofit Blue Star Families, a military family engagement organization and support network, found that less than half of military families with a civilian spouse earned two incomes and that employment is one of the top issues of concern among active duty spouses.
The EventPrep® $200,000 Franchise GiveAway for Military Spouses is open to spouses of active military service members from any of the five branches of the U.S. military (Army, Marine Corps, Navy, Air Force and Coast Guard). It’s easy to enter!· STEP 1 – Complete Easy Entry Form at http://www.EventPrepFranchise.com/GiveAway by July 15, 2018.
· STEP 2 – Submit on-line Candidate Profile Form by July 25, 2018.
· STEP 3 – Top 25 candidates announced on July 31, 2018.
· STEP 4 –Top 25 candidates create & submit a 2 minute “Why Me” video and complete a Personality Assessment by August 17, 2018.
· STEP 5 – Videos from the Top 10 candidates announced and posted online on August 20, 2018. America can vote from August 20, 2018 through September 14, 2018.
The five GRAND PRIZE WINNERS of OPERATION: EventPrep® $200,000 Franchise GiveAway for Military Spouses will be announced Monday, September 17, 2018, and each will receive a complimentary EventPrep® franchise valued at $40,000.
The new franchise “recruits” will report for active EventPrep® duty November 4-9, 2018, where they will participate in a 6-day Franchise Training Bootcamp at the EventPrep® national training facility in Northern Virginia. Grand Prize Winners will be reimbursed up to $500 for their travel and provided with complimentary accommodations during the training program. Once training is completed, winners will be armed with all the tools, skills and knowledge they need to begin their journey as a full-service event planning and management small business.
About EventPrep®, Inc.
EventPrep® is a forward-thinking full-service event planning and management company with our corporate headquarters located in Central Florida. Our reach is global and our primary focus is to save our clients, time, money & anxiety while planning unforgettable events. We view ourselves as partners with our customers, our employees, our community & our environment. We are a globally recognized brand name, capitalizing on our in-depth industry experience & leveraging our industry relationships. Our mission is moderate growth, annual profitability & maintaining our sense of humor.
EventPrep® makes the business of event planning and management streamlined, simple and efficient for the client. The EventPrep® franchise is designed to replicate our proven business model into new markets with professionals who exemplify the same motivation to serve and the willingness to go the extra mile for the client. We offer franchisees the systems, support and business model; franchisees bring the willingness to learn, execute and build.
We are a company founded by Veterans and our company philosophies, work ethic, integrity and commitment to service are derived from our time in uniform. We can’t express enough gratitude and thanks to others who have served our great country and the families that support them.
See [http://www.EventPrepFranchise.com/GiveAway for Complete Official Rules. Reported by PRWeb 2 hours ago.
MERRITT ISLAND, Fla. (PRWEB) May 01, 2018
The job hunt is over for military spouses who have difficulty finding a sustainable job because of frequent Permanent Change of Station (PCS) moves. Home-based event planning franchise EventPrep® is offering a unique opportunity where military spouses can begin a new career in the hospitality industry as a small business owner, providing professional event planning and management services with no territory limitations. The GiveAway ends Monday, September 14, 2018.
“Military spouses are the perfect candidates to become event planning franchise owners,” said Paul Trapp, EventPrep’s Chief Executive Officer and Service Disabled Veteran. “Owning a home-based event planning franchise such as EventPrep® affords military spouses the flexibility to start and keep a new career as they move around the world while using their personal travel experiences and connections as a foundation for growing their business.”
The 2016 Military Lifestyle Survey conducted by the nonprofit Blue Star Families, a military family engagement organization and support network, found that less than half of military families with a civilian spouse earned two incomes and that employment is one of the top issues of concern among active duty spouses.
The EventPrep® $200,000 Franchise GiveAway for Military Spouses is open to spouses of active military service members from any of the five branches of the U.S. military (Army, Marine Corps, Navy, Air Force and Coast Guard). It’s easy to enter!· STEP 1 – Complete Easy Entry Form at http://www.EventPrepFranchise.com/GiveAway by July 15, 2018.
· STEP 2 – Submit on-line Candidate Profile Form by July 25, 2018.
· STEP 3 – Top 25 candidates announced on July 31, 2018.
· STEP 4 –Top 25 candidates create & submit a 2 minute “Why Me” video and complete a Personality Assessment by August 17, 2018.
· STEP 5 – Videos from the Top 10 candidates announced and posted online on August 20, 2018. America can vote from August 20, 2018 through September 14, 2018.
The five GRAND PRIZE WINNERS of OPERATION: EventPrep® $200,000 Franchise GiveAway for Military Spouses will be announced Monday, September 17, 2018, and each will receive a complimentary EventPrep® franchise valued at $40,000.
The new franchise “recruits” will report for active EventPrep® duty November 4-9, 2018, where they will participate in a 6-day Franchise Training Bootcamp at the EventPrep® national training facility in Northern Virginia. Grand Prize Winners will be reimbursed up to $500 for their travel and provided with complimentary accommodations during the training program. Once training is completed, winners will be armed with all the tools, skills and knowledge they need to begin their journey as a full-service event planning and management small business.
About EventPrep®, Inc.
EventPrep® is a forward-thinking full-service event planning and management company with our corporate headquarters located in Central Florida. Our reach is global and our primary focus is to save our clients, time, money & anxiety while planning unforgettable events. We view ourselves as partners with our customers, our employees, our community & our environment. We are a globally recognized brand name, capitalizing on our in-depth industry experience & leveraging our industry relationships. Our mission is moderate growth, annual profitability & maintaining our sense of humor.
EventPrep® makes the business of event planning and management streamlined, simple and efficient for the client. The EventPrep® franchise is designed to replicate our proven business model into new markets with professionals who exemplify the same motivation to serve and the willingness to go the extra mile for the client. We offer franchisees the systems, support and business model; franchisees bring the willingness to learn, execute and build.
We are a company founded by Veterans and our company philosophies, work ethic, integrity and commitment to service are derived from our time in uniform. We can’t express enough gratitude and thanks to others who have served our great country and the families that support them.
See [http://www.EventPrepFranchise.com/GiveAway for Complete Official Rules. Reported by PRWeb 2 hours ago.
↧
Lightbridge Corporation to Present at the 3rd Annual Disruptive Growth and Healthcare Conference Hosted by RHK Capital and Reed Smith
NEW YORK, May 01, 2018 (GLOBE NEWSWIRE) -- *Lightbridge Corporation *(NASDAQ:LTBR), a U.S. nuclear fuel development company, today announced that it will be presenting at the 3^rd annual Disruptive Growth & Healthcare Conference in New York City on Wednesday, May 9^th at 12:50 PM, Eastern Time. President and Chief Executive Office of Lightbridge, Seth Grae, will be presenting, as well as meeting with investors. Mr. Grae will also be presenting on the Clean Tech Panel at 10:45 AM on May 9^th.The 2018 Disruptive Growth & Healthcare Conference will offer investors the opportunity to discover companies focusing on solutions for unmet medical needs and growth companies with disruptive technologies and business models.
*About Lightbridge Corporation*
Lightbridge (NASDAQ:LTBR) is a nuclear fuel technology development company based in Reston, Virginia, USA. The Company develops proprietary next generation nuclear fuel technologies for current and future reactors, which significantly enhances the economics and safety of nuclear power, operating about 1000° C cooler than standard fuel. In January 2018, Lightbridge and Framatome, Inc. formed a 50-50 joint venture, Enfission, LLC, to develop, license, manufacture, and sell nuclear fuel assemblies based on Lightbridge-designed metallic fuel technology and other advanced nuclear fuel intellectual property. Enfission has the exclusive rights to this technology and is responsible for the development of manufacturing processes and fuel assembly designs for pressurized water reactors (PWRs), boiling water reactors (BWRs), water-cooled small modular reactors, and water-cooled research reactors developed around this intellectual property. PWRs and BWRs constitute the most widely used reactor types in the world. Four large electric utilities that generate about half the nuclear power in the US already advise Lightbridge on fuel development and deployment. In addition to distributions from Enfission based on the parties’ ownership interest in the joint venture, Lightbridge anticipates receiving future licensing revenues in connection with sales by Enfission of nuclear fuel incorporating its intellectual property. Lightbridge also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. For more information please visit: www.ltbridge.com.
To receive Lightbridge Corporation updates via e-mail, subscribe at http://ir.ltbridge.com/alerts.cfm .
Lightbridge is on Twitter. Sign up to follow @LightbridgeCorp at http://twitter.com/lightbridgecorp.
*About RHK Capital:*
Advisory Group Equity Services, Ltd. (dba RHK Capital) was founded in 1984. RHK Capital is a boutique investment banking firm specializing in small to medium-sized transactions. RHK is led by a management team with extensive financial industry experience and a desire to provide companies and individuals with the tools and expertise to accomplish their financial goals. In addition to investment banking, RHK has grown to include businesses in general securities, emerging market securities, distressed and high yield debt securities, investment management, mortgages, and business lending. As a division of Advisory Group Equity Services (AGES), all securities are offered through Advisory Group Equity Services Ltd., a registered broker-dealer, member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation.
*Investor Relations Contact:*
David Waldman/Natalya Rudman
Tel. +1 855-379-9900
ir@ltbridge.com Reported by GlobeNewswire 2 hours ago.
*About Lightbridge Corporation*
Lightbridge (NASDAQ:LTBR) is a nuclear fuel technology development company based in Reston, Virginia, USA. The Company develops proprietary next generation nuclear fuel technologies for current and future reactors, which significantly enhances the economics and safety of nuclear power, operating about 1000° C cooler than standard fuel. In January 2018, Lightbridge and Framatome, Inc. formed a 50-50 joint venture, Enfission, LLC, to develop, license, manufacture, and sell nuclear fuel assemblies based on Lightbridge-designed metallic fuel technology and other advanced nuclear fuel intellectual property. Enfission has the exclusive rights to this technology and is responsible for the development of manufacturing processes and fuel assembly designs for pressurized water reactors (PWRs), boiling water reactors (BWRs), water-cooled small modular reactors, and water-cooled research reactors developed around this intellectual property. PWRs and BWRs constitute the most widely used reactor types in the world. Four large electric utilities that generate about half the nuclear power in the US already advise Lightbridge on fuel development and deployment. In addition to distributions from Enfission based on the parties’ ownership interest in the joint venture, Lightbridge anticipates receiving future licensing revenues in connection with sales by Enfission of nuclear fuel incorporating its intellectual property. Lightbridge also provides comprehensive advisory services for established and emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. For more information please visit: www.ltbridge.com.
To receive Lightbridge Corporation updates via e-mail, subscribe at http://ir.ltbridge.com/alerts.cfm .
Lightbridge is on Twitter. Sign up to follow @LightbridgeCorp at http://twitter.com/lightbridgecorp.
*About RHK Capital:*
Advisory Group Equity Services, Ltd. (dba RHK Capital) was founded in 1984. RHK Capital is a boutique investment banking firm specializing in small to medium-sized transactions. RHK is led by a management team with extensive financial industry experience and a desire to provide companies and individuals with the tools and expertise to accomplish their financial goals. In addition to investment banking, RHK has grown to include businesses in general securities, emerging market securities, distressed and high yield debt securities, investment management, mortgages, and business lending. As a division of Advisory Group Equity Services (AGES), all securities are offered through Advisory Group Equity Services Ltd., a registered broker-dealer, member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation.
*Investor Relations Contact:*
David Waldman/Natalya Rudman
Tel. +1 855-379-9900
ir@ltbridge.com Reported by GlobeNewswire 2 hours ago.
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Middle School Cadets from Sarasota Military Academy Prep to Participate in "On Eternal Patrol Memorial Reef” Ceremony Honoring 65 Lost U.S. Submarines
The first undersea memorial to lost submarines will be dedicated in Sarasota 27 MAY 2018 and 72 sixth and seventh grade cadets from the Sarasota Military Academy Prep School (SMA) will be docents and assist with the ceremony for the "On Eternal Patrol Memorial Reef."
SARASOTA, Fla. (PRWEB) May 01, 2018
This Memorial Day weekend, 72 sixth and seventh grade cadets (students) from the Sarasota Military Academy Prep School (SMA) will be docents and assist with the dedication ceremony of the On Eternal Patrol Memorial Reef, the first ever undersea memorial to honor all 65 U.S. manned submarines and more than 4,000 lives aboard that have been lost since 1900 and remain On Eternal Patrol. One additional reef ball representing the crews and boats lost in non-sinking accidents will be included in the memorial for a total of 66 Eternal Reefs.
A reef ball is a designed artificial reef, specifically engineered to mimic Mother Nature; when deployed to the ocean floor, the reef ball quickly assimilates into the ocean environment and new marine growth begins in as little as three months.
All 66 Eternal Reefs will be deployed off the Sarasota coast after the land-based ceremony on 27 May 2018 to form the On Eternal Patrol Memorial Reef, significantly replenishing the ocean’s reef systems and enhancing the marine habitat in which these heroes served.
The SMA middle school cadets are currently studying the 65 submarines to prepare to be resident experts at the event. They will share details such as the military record, battle experience, history and stories about the officers and crew that served aboard each sub. Each “cadet expert” will field questions and foster discussion from their positions beside their assigned submarine’s Eternal Reef ball, a substantial structure standing 3-feet tall and weighing about 1,300 pounds. The 72 sixth and seventh graders include ranks from Cadet Private, Cadet Corporal, Cadet Sergeant, Cadet Captain and Cadet Major and are supervised by Major Alex Vanston, USMC (Ret) and Captain Terri Davis, both military studies instructors at SMA Prep.
“When Eternal Reefs approached us to participate in the On Eternal Patrol Memorial Reef, we were delighted to add the youthful resources and brain power from SMA Prep to this impactful project,” said Christina Bowman, Executive Director of Schools for both the high school and middle school campuses of Sarasota Military Academy. “I can’t wait to see the cadets and veterans interact. I’m sure the day will be filled with moving and patriotic moments.”
The public is invited to the On Eternal Patrol Memorial Reef dedication from 10 a.m. to 12 noon on 27 May 2018 at Ken Thompson Park in Sarasota. Full military honors will be presented, including rifle salutes, buglers playing taps and an honor guard bestowing flags the SMA cadets have carefully folded and will give to representatives for each lost submarine. For many, this will be the first time they’ve been recognized collectively for their contribution and sacrifice.
A Sarasota-based 501c3 memorial organization, Eternal Reefs, Inc., has planned the ambitious project, in partnership with Reef Innovations and The Reef Ball Foundation. The On Eternal Patrol Memorial Reef has already garnered recognition from more than 25 state governors (and counting) via proclamations, certificates and letters of recognition. Additionally, submarine enthusiasts, veterans and other military representatives from across the nation plan to attend.
Brian Lawrence, from Missouri, is coming to the Sarasota event with his wife and dog. A Navy veteran himself, he’s attending in honor of RM2 Kenneth Eugene Nearman, who was aboard the USS TROUT (SS-202) when it went down on 27 February 1944 with all hands, 81 officers and crew. Lawrence shared that his late mother dated Nearman while in and after high school in Missoula, Montana and often spoke of him, and cried, well into her 90s.
“Stories like Brian’s are starting to stream in and it’s incredibly satisfying to know that the On Eternal Patrol Memorial Reef will bring some closure to families and friends of our nation’s fallen submarine heroes,” said George Frankel, Eternal Reefs CEO. “Making history come alive adds deep meaning to what we do each and every day at Eternal Reefs and we’re thrilled cadets from SMA Prep will help us bestow the honors.”
Making the timing of the dedication even more significant, it falls almost 50 years to the day after the U.S. nuclear submarine USS Scorpion was lost on 22 May 1968 with all hands, 99 officers and crew.
View a video of the On Eternal Patrol Memorial Reef project, including a full listing of all submarines with their date of loss, on YouTube. Find a complete list of the 65 boats On Eternal Patrol and the boats lost in non-sinking events at http://www.OnEternalPatrol.com. Eternal Reefs is accepting outside funding to support the On Eternal Patrol Memorial Reef. Interested parties should call 888-423-7333 or email info@EternalReefs.com.
About Sarasota Military Academy (SMA)
Combining extraordinary academics with the highest military principles of camaraderie, focus, leadership, integrity, compassion, poise, honor and respect, Sarasota Military Academy’s mission is to graduate young men and women who will confidently define their personal and unique goals for success in a multi-cultural and globalized world. SMA cadets embrace the challenge of bringing honor to themselves, their families, their communities and the United States of America. We share a fundamental belief that doing the right thing is always the right choice. To SMA cadets, accountability for behavior and decision-making is an expectation that is embraced. Our cadet culture instills personal, social and patriotic respect, demonstrated with confidence through courtesy, politeness, kindness, and consideration for others. Learn more at http://www.SarasotaMilitaryAcademy.org.
About Eternal Reefs
The Genesis Reef Project dba Eternal Reefs, Inc. is a Sarasota-based non-profit organization that provides a creative, environmentally-enhancing way to memorialize the cremated remains of a loved one. Eternal Reefs incorporates cremated remains into a proprietary concrete mixture used to cast artificial reef formations which are then dedicated as permanent memorials which bolster natural coastal reef formations. Eternal Reefs pioneered the concept of reef memorialization and, since 1998, the organization has placed nearly 2,000 Memorial Reefs in 25 locations off the coasts of Florida (North Atlantic, South Atlantic, Gulf Coast and Panhandle), Maryland, New Jersey, North Carolina, South Carolina, Texas and Virginia, substantially increasing the ocean’s diminishing reef systems. Memorial reefs can only go in properly permitted locations by the U.S. Government. Eternal Reefs has strategic partnerships with the Reef Ball Foundation and Reef Innovations. The company secured 501c3 status in January 2017. Learn more at http://www.EternalReefs.com or on the company’s Facebook page. Reported by PRWeb 50 minutes ago.
SARASOTA, Fla. (PRWEB) May 01, 2018
This Memorial Day weekend, 72 sixth and seventh grade cadets (students) from the Sarasota Military Academy Prep School (SMA) will be docents and assist with the dedication ceremony of the On Eternal Patrol Memorial Reef, the first ever undersea memorial to honor all 65 U.S. manned submarines and more than 4,000 lives aboard that have been lost since 1900 and remain On Eternal Patrol. One additional reef ball representing the crews and boats lost in non-sinking accidents will be included in the memorial for a total of 66 Eternal Reefs.
A reef ball is a designed artificial reef, specifically engineered to mimic Mother Nature; when deployed to the ocean floor, the reef ball quickly assimilates into the ocean environment and new marine growth begins in as little as three months.
All 66 Eternal Reefs will be deployed off the Sarasota coast after the land-based ceremony on 27 May 2018 to form the On Eternal Patrol Memorial Reef, significantly replenishing the ocean’s reef systems and enhancing the marine habitat in which these heroes served.
The SMA middle school cadets are currently studying the 65 submarines to prepare to be resident experts at the event. They will share details such as the military record, battle experience, history and stories about the officers and crew that served aboard each sub. Each “cadet expert” will field questions and foster discussion from their positions beside their assigned submarine’s Eternal Reef ball, a substantial structure standing 3-feet tall and weighing about 1,300 pounds. The 72 sixth and seventh graders include ranks from Cadet Private, Cadet Corporal, Cadet Sergeant, Cadet Captain and Cadet Major and are supervised by Major Alex Vanston, USMC (Ret) and Captain Terri Davis, both military studies instructors at SMA Prep.
“When Eternal Reefs approached us to participate in the On Eternal Patrol Memorial Reef, we were delighted to add the youthful resources and brain power from SMA Prep to this impactful project,” said Christina Bowman, Executive Director of Schools for both the high school and middle school campuses of Sarasota Military Academy. “I can’t wait to see the cadets and veterans interact. I’m sure the day will be filled with moving and patriotic moments.”
The public is invited to the On Eternal Patrol Memorial Reef dedication from 10 a.m. to 12 noon on 27 May 2018 at Ken Thompson Park in Sarasota. Full military honors will be presented, including rifle salutes, buglers playing taps and an honor guard bestowing flags the SMA cadets have carefully folded and will give to representatives for each lost submarine. For many, this will be the first time they’ve been recognized collectively for their contribution and sacrifice.
A Sarasota-based 501c3 memorial organization, Eternal Reefs, Inc., has planned the ambitious project, in partnership with Reef Innovations and The Reef Ball Foundation. The On Eternal Patrol Memorial Reef has already garnered recognition from more than 25 state governors (and counting) via proclamations, certificates and letters of recognition. Additionally, submarine enthusiasts, veterans and other military representatives from across the nation plan to attend.
Brian Lawrence, from Missouri, is coming to the Sarasota event with his wife and dog. A Navy veteran himself, he’s attending in honor of RM2 Kenneth Eugene Nearman, who was aboard the USS TROUT (SS-202) when it went down on 27 February 1944 with all hands, 81 officers and crew. Lawrence shared that his late mother dated Nearman while in and after high school in Missoula, Montana and often spoke of him, and cried, well into her 90s.
“Stories like Brian’s are starting to stream in and it’s incredibly satisfying to know that the On Eternal Patrol Memorial Reef will bring some closure to families and friends of our nation’s fallen submarine heroes,” said George Frankel, Eternal Reefs CEO. “Making history come alive adds deep meaning to what we do each and every day at Eternal Reefs and we’re thrilled cadets from SMA Prep will help us bestow the honors.”
Making the timing of the dedication even more significant, it falls almost 50 years to the day after the U.S. nuclear submarine USS Scorpion was lost on 22 May 1968 with all hands, 99 officers and crew.
View a video of the On Eternal Patrol Memorial Reef project, including a full listing of all submarines with their date of loss, on YouTube. Find a complete list of the 65 boats On Eternal Patrol and the boats lost in non-sinking events at http://www.OnEternalPatrol.com. Eternal Reefs is accepting outside funding to support the On Eternal Patrol Memorial Reef. Interested parties should call 888-423-7333 or email info@EternalReefs.com.
About Sarasota Military Academy (SMA)
Combining extraordinary academics with the highest military principles of camaraderie, focus, leadership, integrity, compassion, poise, honor and respect, Sarasota Military Academy’s mission is to graduate young men and women who will confidently define their personal and unique goals for success in a multi-cultural and globalized world. SMA cadets embrace the challenge of bringing honor to themselves, their families, their communities and the United States of America. We share a fundamental belief that doing the right thing is always the right choice. To SMA cadets, accountability for behavior and decision-making is an expectation that is embraced. Our cadet culture instills personal, social and patriotic respect, demonstrated with confidence through courtesy, politeness, kindness, and consideration for others. Learn more at http://www.SarasotaMilitaryAcademy.org.
About Eternal Reefs
The Genesis Reef Project dba Eternal Reefs, Inc. is a Sarasota-based non-profit organization that provides a creative, environmentally-enhancing way to memorialize the cremated remains of a loved one. Eternal Reefs incorporates cremated remains into a proprietary concrete mixture used to cast artificial reef formations which are then dedicated as permanent memorials which bolster natural coastal reef formations. Eternal Reefs pioneered the concept of reef memorialization and, since 1998, the organization has placed nearly 2,000 Memorial Reefs in 25 locations off the coasts of Florida (North Atlantic, South Atlantic, Gulf Coast and Panhandle), Maryland, New Jersey, North Carolina, South Carolina, Texas and Virginia, substantially increasing the ocean’s diminishing reef systems. Memorial reefs can only go in properly permitted locations by the U.S. Government. Eternal Reefs has strategic partnerships with the Reef Ball Foundation and Reef Innovations. The company secured 501c3 status in January 2017. Learn more at http://www.EternalReefs.com or on the company’s Facebook page. Reported by PRWeb 50 minutes ago.
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Quality Insights Receives ISO 9001:2015 Certification
Independent Audit Confirms Compliance with International Quality Management System Standards
CHARLESTON, W.Va (PRWEB) May 01, 2018
Quality Insights, a not-for-profit company focused on improving health and health care quality, has achieved International Organization for Standardization (ISO) 9001:2015 certification after an audit from an independent registrar.
ISO 9001:2015 is the global standard for a quality management system and is based on principles such as strong customer focus, motivation and implication of top management, the process approach and continual improvement.
Quality Insights’ certification included a thorough review of a number of business functions including business development; contract oversight and administration; finance and accounting; analytics and report production; communications and educational materials development; and information technology support, software development and interface.
“As a company with a major focus on helping health care providers improve their processes, systems and quality of care, it’s very important to us that we walk the talk,” Sven T. Berg, Quality Insights Chief Executive Officer said. “This certification not only demonstrates our commitment to quality, but more importantly, helps us continually improve the services we offer our customers.”
Berg said Quality Insights will ensure continued compliance with ISO 9001:2015 through regularly scheduled audits.
ISO is an independent, non-governmental international organization that brings together experts to share knowledge and develop voluntary, consensus-based international standards.
About Quality Insights
Based in Charleston, West Virginia with offices throughout the Mid-Atlantic, Quality Insights specializes in developing and maintaining measures of health care quality, collecting and analyzing performance data, and providing both collaborative learning opportunities and individualized technical assistance to health care providers in all settings. Its 300+ employees and consultants support quality initiatives from federal and state government agencies, private payers and more. Learn about how Quality Insights is bringing people and information together to improve health at http://www.qualityinsights.org. Reported by PRWeb 50 minutes ago.
CHARLESTON, W.Va (PRWEB) May 01, 2018
Quality Insights, a not-for-profit company focused on improving health and health care quality, has achieved International Organization for Standardization (ISO) 9001:2015 certification after an audit from an independent registrar.
ISO 9001:2015 is the global standard for a quality management system and is based on principles such as strong customer focus, motivation and implication of top management, the process approach and continual improvement.
Quality Insights’ certification included a thorough review of a number of business functions including business development; contract oversight and administration; finance and accounting; analytics and report production; communications and educational materials development; and information technology support, software development and interface.
“As a company with a major focus on helping health care providers improve their processes, systems and quality of care, it’s very important to us that we walk the talk,” Sven T. Berg, Quality Insights Chief Executive Officer said. “This certification not only demonstrates our commitment to quality, but more importantly, helps us continually improve the services we offer our customers.”
Berg said Quality Insights will ensure continued compliance with ISO 9001:2015 through regularly scheduled audits.
ISO is an independent, non-governmental international organization that brings together experts to share knowledge and develop voluntary, consensus-based international standards.
About Quality Insights
Based in Charleston, West Virginia with offices throughout the Mid-Atlantic, Quality Insights specializes in developing and maintaining measures of health care quality, collecting and analyzing performance data, and providing both collaborative learning opportunities and individualized technical assistance to health care providers in all settings. Its 300+ employees and consultants support quality initiatives from federal and state government agencies, private payers and more. Learn about how Quality Insights is bringing people and information together to improve health at http://www.qualityinsights.org. Reported by PRWeb 50 minutes ago.
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RGC Resources, Inc. Declares Quarterly Dividend
ROANOKE, Va., May 01, 2018 (GLOBE NEWSWIRE) -- The Board of Directors of RGC Resources, Inc. (NASDAQ:RGCO), at its meeting on April 30, 2018, declared a quarterly dividend of $0.155 per share on the Company’s common stock. The dividend will be paid on August 1, 2018 to shareholders of record on July 16, 2018. This is the Company’s 297th consecutive quarterly cash dividend.RGC Resources, Inc. provides energy and related products and services to customers in Virginia through its operating subsidiaries including Roanoke Gas Company and RGC Midstream, L.L.C.
From time to time, the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. Past performance is not necessarily a predictor of future results.
Contact: Paul W. Nester
Vice President and CFO
Telephone: 540-777-3837 Reported by GlobeNewswire 47 minutes ago.
From time to time, the Company may publish forward-looking statements relating to such matters as anticipated financial performance, business prospects, technological developments, new products, research and development activities and similar matters. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. In order to comply with the terms of the safe harbor, the Company notes that a variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company’s forward-looking statements. Past performance is not necessarily a predictor of future results.
Contact: Paul W. Nester
Vice President and CFO
Telephone: 540-777-3837 Reported by GlobeNewswire 47 minutes ago.
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CIO Celebrates Technology and Business Innovation with 2018 CIO 100 Award Honorees & Hall of Fame Inductees
The CIO 100 Symposium & Awards Ceremony, Aug. 13-15th, will bring together 300+ CIOs and senior IT executives to discuss innovation, enterprise technologies and digital transformation
Boston, Mass., May 01, 2018 (GLOBE NEWSWIRE) -- IDG’s CIO — the executive-level IT media brand providing insight into business technology leadership — is pleased to announce the 2018 CIO 100 award honorees and CIO Hall of Fame inductees (click to tweet). For more than 30 years, the annual CIO 100 awards have celebrated 100 organizations and their IT teams for driving business value and growth through digital innovation. CIO is also proud to induct 15 technology business leaders into its CIO Hall of Fame, honoring their profound contributions to the business technology world and their outstanding leadership.
All winners will be celebrated at the CIO 100 Symposium and Awards Ceremony – CIO’s most powerful national gathering of CIOs and senior IT executives. This exclusive event will be held August 13-15, 2018, at the Terranea Resort in Rancho Palos Verdes, California. Leadership, innovation and business strategy conversations will dominate the agenda, and the symposium will open with a special keynote address from Luke Williams, Professor, NYU Stern School of Business and international bestselling author. Williams’ session will highlight how disruptive thinking and innovation can spark business transformation.
The theme for this year’s executive conference is “The Innovation Conversation,” with an agenda geared to fostering greater interaction among attendees, industry experts and honorees as they explore how ongoing digital transformation and greater experimentation with innovative ideas are changing today’s competitive business landscape. Over the course of three days, more than 300 CIOs and senior business executives will engage in thought leadership sessions, panel discussions, interactive workshops and much more. Visit CIO100.com to learn more about the conference and agenda.
An acknowledged mark of enterprise excellence in business technology, CIO 100 brings together some of the most recognized and respected CIOs in the country. "Every year, we are honored to showcase the technology innovation and business value delivered by our CIO 100 award winners. Each of these companies has achieved notable success in accelerating businesses to the front lines of the digital revolution," said Maryfran Johnson, executive director of CIO Programs for CIO Events and the CIO Executive Council. "Our winners are inspiring examples of how IT leadership, business partnerships and customer engagement are reshaping our future."
The symposium concludes with a gala dinner and awards ceremony recognizing the 2018 CIO 100 honorees as well as the newest members joining the CIO Hall of Fame.
“This world-class gathering of our CIO Hall of Fame inductees, CIO 100 honorees, industry vendors and IT leaders is the best example of how ingenuity applied to technology can advance business for us all,”
said Adam Dennison, SVP / general manager, IDG Events, and publisher, CIO. “Every year, the conversations that take place at this event inspire and energize me as we look to the future. This collaboration between technology and business leaders proves that we are one ecosystem looking to embrace transformation."
*2018 CIO Hall of Fame Inductees*
· Robert Fecteau, SVP & CIO, SAIC
· Michelle Garvey, EVP & CIO, J Crew Group
· Dr. John D. Halamka MD, CIO, Beth Israel Deaconess Health System
· Joel Jacobs, VP, CIO & CSO, The MITRE Corp.
· Steven A. John, CIO, Aramark Uniform Services and Aramark Refreshment Services
· Raymond Karrenbauer, SVP & CIO, International Financial Group (IFG) Companies
· William McCorey, SVP & CIO, Universal Parks and Resorts
· Stuart McGuigan, CIO, Johnson & Johnson
· Scott McKay, EVP & Chief Strategy Officer, Genworth Financial
· Larry Quinlan, Global CIO, Deloitte
· John P. Repko, VP & Global CIO, Johnson Controls
· Glenn Schneider, EVP & CIO, Discover Financial Services
· Eash Sundaram, EVP, Chief Digital & Technology Officer, JetBlue Airways
· Deanna Wise, EVP & CIO, Dignity Health
· Richard Williams, SVP & CIO, Celgene Corp.
*2018 CIO 100 Recipients*
· Accenture (Enterprise Analytics Platform + Enterprise Insight Studio)
· ACI Specialty Benefits
· Adobe IT & Cloud Operation
· Akin Gump LLP
· Allstate
· Applied Materials, Inc.
· Arizona Department of Child Safety (AZDCS)
· Arrow Electronics
· Asurion
· Bank Yahav
· Beachbody
· Bechtel
· Biogen
· CA Technologies
· Caesars Entertainment
· Cancer Treatment Centers of America®
· Capital One
· Cargill
· Carhartt, Inc.
· Celgene Corporation
· City of Virginia Beach
· Covanta
· Cushman & Wakefield
· Dangote Industries Limited (Dangote Group)
· Deloitte LLP
· Dine Equity
· Discover Financial Services
· Dutchess County Government
· Easterseals Blake Foundation
· Embry-Riddle Aeronautical University, Worldwide Campus
· EURPAC Service, Incorporated
· Fannie Mae
· Farmers Insurance®
· FBMC Benefits Management, Inc.
· Financial Services Information Sharing and Analysis Center
· Fleet Advantage
· General Motors
· Houston Methodist Hospital
· HSBC
· Humana Inc.
· IBM Corporation
· IBM Research Integrated Solutions (RIS)
· Idaho National Laboratory
· International Centre for Missing and Exploited Children
· International Organization of Migration (IOM)
· Jet Propulsion Laboratory
· Kansas City Southern
· Khalifa Empowerment Program for Students - Aqdar
· KLX Energy
· Korea Electric Power Corporation, KEPCO
· LanguageLine Solutions
· Larsen & Toubro Infotech
· Lear Corporation
· Lenovo
· McDermott International Inc.
· Merck Manufacturing IT
· Micron Technology, Inc.
· MITRE Corporation
· Monsanto Co
· Nicklaus Children's Health System
· Office of Information Technology, Department of Veterans Affairs
· Oral Roberts University
· Owens Corning
· Penn Medicine
· Pennsylvania Treasury Department
· Ports America
· PPG
· Raytheon Company
· Rice University
· Ricoh USA, Inc
· Sabesp - Companhia de Saneamento Básico do Estado de São Paulo
· Samsung Electronics Germany Branch
· Sanofi
· Sealed Air (CogniPRO® Initiative/ Digital & Innovation Team)
· Securian Financial Group
· Shell
· Sheltered Harbor
· Siemens AG - Global Services - Information Technology
· Southland Industries
· Sprint
· SRF Limited
· Stanford Health Care
· SUEZ North America
· Synchrony Financial
· TGI Fridays
· The New School
· The Suddath Companies
· TIAA
· Toyota Motor North America (TMNA) | Information Systems
· UCHealth
· Unisys
· United Airlines
· United Nations Federal Credit Union
· United Parcel Service
· United States Cold Storage Inc
· Verizon
· Visteon
· West Coast University
· Wheels, Inc.
· Workday, Inc.
*Sponsorship Information*
The 2018 CIO 100 Symposium is proud to have *Deloitte* and *Google* as underwriting partners. Additional CIO 100 corporate partners include Code42, Dimension Data, Dropbox, IBM, Informatica, NTT DATA and Unisys. Emerging partners for this event are Delphix and Zoom Video. For more information on becoming a corporate sponsor or an emerging tech sponsor at the CIO 100, please contact Adam Dennison, SVP / General Manager, IDG Events and Publisher, CIO at adam_dennison@idg.com.
*About the CIO 100 Awards*
Recipients of this year's CIO 100 Award were selected through a three-step process. First, companies filled out an online application form detailing their innovative IT and business initiatives. Next, a team of external judges (many of them former CIOs) reviewed the applications in depth, looking for leading-edge IT practices and measurable results. Finally, CIO editors reviewed the judges' recommendations and selected the final 100.
*About the CIO Hall of Fame Awards*
The CIO Hall of Fame was first created in 1997 to spotlight 12 outstanding IT leaders who had significantly contributed to and profoundly influenced the IT discipline, the use of technology in business and the advancement of the CIO role. Ten years later, in 2007, CIO inducted its second class of honorees into the CIO Hall of Fame during CIO magazine’s 20th anniversary celebration. CIO continues to showcase this elite group of CIOs - now numbering 120 - during the CIO Hall of Fame induction ceremony. A list of all inductees can be viewed here.
*About CIO*
CIO focuses on attracting the highest concentration of enterprise CIOs and business technology executives with unparalleled peer insight and expertise on business strategy, innovation, and leadership. As organizations grow with digital transformation, CIO provides its readers with key insights on career development, including certifications, hiring practices and skills development. The award-winning CIO portfolio provides business technology leaders with analysis and insight on information technology trends and a keen understanding of IT’s role in achieving business goals. CIO information is available at www.cio.com.
· Follow CIO on Twitter: @CIOonline @CIOevents #CIO100 #CIOHoF
· Follow IDG on Twitter: @IDGWorld
· Follow CIO on LinkedIn
· Follow CIO on Facebook*About IDG Communications, Inc.*
IDG Communications connects the world of tech buyers with insights, intent and engagement. IDG Communications is the world’s largest media, data and marketing services company that activates and engages the most influential technology buyers. Our premium brands, including CIO®, Computerworld®, PCWorld® and Macworld®, engage the most powerful audience of technology buyers providing essential guidance on the evolving technology landscape. Our global data intelligence platform activates purchasing intent, powering our clients’ success. IDG Marketing Services creates custom content with marketing impact across video, mobile, social and digital. We execute complex campaigns that fulfill marketers’ global ambitions seamlessly with consistency that delivers results and wins awards. IDG is the #1 tech media company in the world, per comScore.*
*Source: comScore Media Metrix, Desktop Unique Visitors, Worldwide, January 2017
Additional information about IDG, a privately held company, is available at http://www.idg.com.
###
CONTACT: Contact: Lynn Holmlund
Marketing Director
IDG Communications, Inc.
lynn_holmlund@idg.com
Office: 508.935.4526 Reported by GlobeNewswire 39 minutes ago.
Boston, Mass., May 01, 2018 (GLOBE NEWSWIRE) -- IDG’s CIO — the executive-level IT media brand providing insight into business technology leadership — is pleased to announce the 2018 CIO 100 award honorees and CIO Hall of Fame inductees (click to tweet). For more than 30 years, the annual CIO 100 awards have celebrated 100 organizations and their IT teams for driving business value and growth through digital innovation. CIO is also proud to induct 15 technology business leaders into its CIO Hall of Fame, honoring their profound contributions to the business technology world and their outstanding leadership.
All winners will be celebrated at the CIO 100 Symposium and Awards Ceremony – CIO’s most powerful national gathering of CIOs and senior IT executives. This exclusive event will be held August 13-15, 2018, at the Terranea Resort in Rancho Palos Verdes, California. Leadership, innovation and business strategy conversations will dominate the agenda, and the symposium will open with a special keynote address from Luke Williams, Professor, NYU Stern School of Business and international bestselling author. Williams’ session will highlight how disruptive thinking and innovation can spark business transformation.
The theme for this year’s executive conference is “The Innovation Conversation,” with an agenda geared to fostering greater interaction among attendees, industry experts and honorees as they explore how ongoing digital transformation and greater experimentation with innovative ideas are changing today’s competitive business landscape. Over the course of three days, more than 300 CIOs and senior business executives will engage in thought leadership sessions, panel discussions, interactive workshops and much more. Visit CIO100.com to learn more about the conference and agenda.
An acknowledged mark of enterprise excellence in business technology, CIO 100 brings together some of the most recognized and respected CIOs in the country. "Every year, we are honored to showcase the technology innovation and business value delivered by our CIO 100 award winners. Each of these companies has achieved notable success in accelerating businesses to the front lines of the digital revolution," said Maryfran Johnson, executive director of CIO Programs for CIO Events and the CIO Executive Council. "Our winners are inspiring examples of how IT leadership, business partnerships and customer engagement are reshaping our future."
The symposium concludes with a gala dinner and awards ceremony recognizing the 2018 CIO 100 honorees as well as the newest members joining the CIO Hall of Fame.
“This world-class gathering of our CIO Hall of Fame inductees, CIO 100 honorees, industry vendors and IT leaders is the best example of how ingenuity applied to technology can advance business for us all,”
said Adam Dennison, SVP / general manager, IDG Events, and publisher, CIO. “Every year, the conversations that take place at this event inspire and energize me as we look to the future. This collaboration between technology and business leaders proves that we are one ecosystem looking to embrace transformation."
*2018 CIO Hall of Fame Inductees*
· Robert Fecteau, SVP & CIO, SAIC
· Michelle Garvey, EVP & CIO, J Crew Group
· Dr. John D. Halamka MD, CIO, Beth Israel Deaconess Health System
· Joel Jacobs, VP, CIO & CSO, The MITRE Corp.
· Steven A. John, CIO, Aramark Uniform Services and Aramark Refreshment Services
· Raymond Karrenbauer, SVP & CIO, International Financial Group (IFG) Companies
· William McCorey, SVP & CIO, Universal Parks and Resorts
· Stuart McGuigan, CIO, Johnson & Johnson
· Scott McKay, EVP & Chief Strategy Officer, Genworth Financial
· Larry Quinlan, Global CIO, Deloitte
· John P. Repko, VP & Global CIO, Johnson Controls
· Glenn Schneider, EVP & CIO, Discover Financial Services
· Eash Sundaram, EVP, Chief Digital & Technology Officer, JetBlue Airways
· Deanna Wise, EVP & CIO, Dignity Health
· Richard Williams, SVP & CIO, Celgene Corp.
*2018 CIO 100 Recipients*
· Accenture (Enterprise Analytics Platform + Enterprise Insight Studio)
· ACI Specialty Benefits
· Adobe IT & Cloud Operation
· Akin Gump LLP
· Allstate
· Applied Materials, Inc.
· Arizona Department of Child Safety (AZDCS)
· Arrow Electronics
· Asurion
· Bank Yahav
· Beachbody
· Bechtel
· Biogen
· CA Technologies
· Caesars Entertainment
· Cancer Treatment Centers of America®
· Capital One
· Cargill
· Carhartt, Inc.
· Celgene Corporation
· City of Virginia Beach
· Covanta
· Cushman & Wakefield
· Dangote Industries Limited (Dangote Group)
· Deloitte LLP
· Dine Equity
· Discover Financial Services
· Dutchess County Government
· Easterseals Blake Foundation
· Embry-Riddle Aeronautical University, Worldwide Campus
· EURPAC Service, Incorporated
· Fannie Mae
· Farmers Insurance®
· FBMC Benefits Management, Inc.
· Financial Services Information Sharing and Analysis Center
· Fleet Advantage
· General Motors
· Houston Methodist Hospital
· HSBC
· Humana Inc.
· IBM Corporation
· IBM Research Integrated Solutions (RIS)
· Idaho National Laboratory
· International Centre for Missing and Exploited Children
· International Organization of Migration (IOM)
· Jet Propulsion Laboratory
· Kansas City Southern
· Khalifa Empowerment Program for Students - Aqdar
· KLX Energy
· Korea Electric Power Corporation, KEPCO
· LanguageLine Solutions
· Larsen & Toubro Infotech
· Lear Corporation
· Lenovo
· McDermott International Inc.
· Merck Manufacturing IT
· Micron Technology, Inc.
· MITRE Corporation
· Monsanto Co
· Nicklaus Children's Health System
· Office of Information Technology, Department of Veterans Affairs
· Oral Roberts University
· Owens Corning
· Penn Medicine
· Pennsylvania Treasury Department
· Ports America
· PPG
· Raytheon Company
· Rice University
· Ricoh USA, Inc
· Sabesp - Companhia de Saneamento Básico do Estado de São Paulo
· Samsung Electronics Germany Branch
· Sanofi
· Sealed Air (CogniPRO® Initiative/ Digital & Innovation Team)
· Securian Financial Group
· Shell
· Sheltered Harbor
· Siemens AG - Global Services - Information Technology
· Southland Industries
· Sprint
· SRF Limited
· Stanford Health Care
· SUEZ North America
· Synchrony Financial
· TGI Fridays
· The New School
· The Suddath Companies
· TIAA
· Toyota Motor North America (TMNA) | Information Systems
· UCHealth
· Unisys
· United Airlines
· United Nations Federal Credit Union
· United Parcel Service
· United States Cold Storage Inc
· Verizon
· Visteon
· West Coast University
· Wheels, Inc.
· Workday, Inc.
*Sponsorship Information*
The 2018 CIO 100 Symposium is proud to have *Deloitte* and *Google* as underwriting partners. Additional CIO 100 corporate partners include Code42, Dimension Data, Dropbox, IBM, Informatica, NTT DATA and Unisys. Emerging partners for this event are Delphix and Zoom Video. For more information on becoming a corporate sponsor or an emerging tech sponsor at the CIO 100, please contact Adam Dennison, SVP / General Manager, IDG Events and Publisher, CIO at adam_dennison@idg.com.
*About the CIO 100 Awards*
Recipients of this year's CIO 100 Award were selected through a three-step process. First, companies filled out an online application form detailing their innovative IT and business initiatives. Next, a team of external judges (many of them former CIOs) reviewed the applications in depth, looking for leading-edge IT practices and measurable results. Finally, CIO editors reviewed the judges' recommendations and selected the final 100.
*About the CIO Hall of Fame Awards*
The CIO Hall of Fame was first created in 1997 to spotlight 12 outstanding IT leaders who had significantly contributed to and profoundly influenced the IT discipline, the use of technology in business and the advancement of the CIO role. Ten years later, in 2007, CIO inducted its second class of honorees into the CIO Hall of Fame during CIO magazine’s 20th anniversary celebration. CIO continues to showcase this elite group of CIOs - now numbering 120 - during the CIO Hall of Fame induction ceremony. A list of all inductees can be viewed here.
*About CIO*
CIO focuses on attracting the highest concentration of enterprise CIOs and business technology executives with unparalleled peer insight and expertise on business strategy, innovation, and leadership. As organizations grow with digital transformation, CIO provides its readers with key insights on career development, including certifications, hiring practices and skills development. The award-winning CIO portfolio provides business technology leaders with analysis and insight on information technology trends and a keen understanding of IT’s role in achieving business goals. CIO information is available at www.cio.com.
· Follow CIO on Twitter: @CIOonline @CIOevents #CIO100 #CIOHoF
· Follow IDG on Twitter: @IDGWorld
· Follow CIO on LinkedIn
· Follow CIO on Facebook*About IDG Communications, Inc.*
IDG Communications connects the world of tech buyers with insights, intent and engagement. IDG Communications is the world’s largest media, data and marketing services company that activates and engages the most influential technology buyers. Our premium brands, including CIO®, Computerworld®, PCWorld® and Macworld®, engage the most powerful audience of technology buyers providing essential guidance on the evolving technology landscape. Our global data intelligence platform activates purchasing intent, powering our clients’ success. IDG Marketing Services creates custom content with marketing impact across video, mobile, social and digital. We execute complex campaigns that fulfill marketers’ global ambitions seamlessly with consistency that delivers results and wins awards. IDG is the #1 tech media company in the world, per comScore.*
*Source: comScore Media Metrix, Desktop Unique Visitors, Worldwide, January 2017
Additional information about IDG, a privately held company, is available at http://www.idg.com.
###
CONTACT: Contact: Lynn Holmlund
Marketing Director
IDG Communications, Inc.
lynn_holmlund@idg.com
Office: 508.935.4526 Reported by GlobeNewswire 39 minutes ago.
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