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Edward Perotti chatted about being a celebrity event designer in the digital age. What motivates you each day as a celebrity event designer? This is an interesting question, and I’ve never been asked it before. When it comes to events, my motivations are quite clear. Having been trained in theater, I loved every aspect of it. I just wish I had the talent to fully support my passion (laughs). Events are essentially a form of theater. Whether it’s a social gathering, a product launch, a movie premiere, or a corporate sales event, each one conveys a message or story. My role is to design the entire experience so that today’s audiences can connect with that message. Today’s audience desires to be active participants, so my sole motivation is to find ways to engage them emotionally with the content being presented. Today’s audience wants to be active participants, so finding ways to connect them emotionally to the ‘words’ is my sole motivation. How does it feel to be a part of the digital age? (Now with streaming, technology and social media being so prevalent) Being an event designer in the digital age is an incredible opportunity. With streaming, technology, and social media now so prevalent, I find it both exciting and challenging for my industry in ways we never imagined. The ability to create truly inclusive events through live streaming, virtual reality experiences, and the use of AI opens up limitless possibilities for designing new experiences. Of course, we always have to keep budgets in mind, but I feel like Alice in Wonderland as I explore these new opportunities. And how we can use that to be more effective, I feel like Alice in Wonderland, where the possibilities of what experiences I can design are limitless, keeping budgets in mind, of course. How do you use technology in your daily routine? New tools are coming every day, so trying to keep up, research, and find what is needed is key to my daily routine. However, today, being able to digitally manage global site searches, registration processes, attendee data analytics, and marketing materials, is really not long ago. I can’t believe how I or my peers used to do all this by hand. Technology has freed me from so many time-consuming tasks that I can devote more time and thought to creating the physical, digital, or hybrid event experience. What are some of your proudest professional moments? Not to sound arrogant, but I have had many proud moments throughout my career. If I had to choose, I would first proudly say the opportunity my role has created to become a public voice for my industry and peers. As technology increasingly permeates our lives, it’s essential to emphasize that we need live physical interactions to stay connected and maintain our humanity. Event professionals play a crucial role in making those connections happen. Secondly, I take great pride in being recognized not only for creating exceptional event designs and experiences but also for giving back to the communities that host my events around the world. Providing attendees and guests with opportunities to step away from their lives and contribute their time, even if just for a few hours, fosters strong connections within our communities and enhances the human experience. What do your plans for the future include? I have big plans for the future! I am currently writing a book focused on designing experiences. In it, I share where I find my inspiration and how I envision possibilities. My goal is to create a safe space for anyone to recognize their creativity; they need to let their voice out and trust themselves, regardless of any negative comments they may encounter. Additionally, I would love to bring the message of event experiences and gatherings to a streaming or televised platform. This would allow audiences to understand that whether they are hosting a meeting at home, in a church, at a wedding, or even a small corporate event, they only need to rely on their voice and creative thought process. Until then, I will continue to create those ‘moments to remember’ for people. Were there any moments in your career that helped define you? What are some moments in my career that have defined me? There are moments every day, but two stand out as the most significant, as they shape who I am and give me the mental and emotional freedom to bring my best to each event. Coming out 26 years ago was one pivotal moment. It was followed by meeting a partner who, over the course of our 22 years together, has provided me the freedom and space to realize that I am not what I once thought I was. He has shown me that what I have to say and what I bring to the table is unique and rare. If we’re talking about an event experience that defines my career, I would highlight the time I took 600 global attendees to Beijing, China, for an event. I led them out of the hotel to volunteer for a day where we rebuilt and restored a 2,500-foot section of the Great Wall of China, using stone bricks, cement, maple trees, and paint. That day was life-changing for all of us—exhausting, but truly transformative. What does the word success mean to you? (my favorite question) To me, success means happiness. Can I look in the mirror and feel proud of the person staring back at me? If I can contribute more positivity, creativity, and beauty than I take, and if my work positively impacts both businesses and individuals, then I would consider myself a success. What is your advice for young and emerging celebrity event designers? First, do your homework. You cannot look back or think forward unless you know where you have been. The events industry is one of the few truly collaborative fields, and seasoned professionals are often willing to educate and mentor newcomers. Second, don’t be afraid to use your voice. To do this effectively, you must also listen closely to your clients. Your goal should be to exceed their expectations; however, it’s important to understand that sometimes you need to provide them with what they truly need, not just what they want. Lastly, have fun. Events are about people, so always keep that in mind. To learn more about celebrity event designer Edward Perotti, check out his official website and follow him on Instagram . Markos Papadatos is Digital Journal's Editor-at-Large for Music News.Papadatos is a Greek-American journalist and educator that has authored over 21,000 original articles over the past 18 years. He has interviewed some of the biggest names in music, entertainment, lifestyle, magic, and sports. He is a 16-time "Best of Long Island" winner, where for three consecutive years (2020, 2021, and 2022), he was honored as the "Best Long Island Personality" in Arts & Entertainment, an honor that has gone to Billy Joel six times.
Insight Acquisition Corp Stockholders Approve Extension of Business Combination Period Through March 7, 2025GREENWICH, Conn., Dec. 03, 2024 (GLOBE NEWSWIRE) -- XPO (NYSE: XPO), a leading provider of freight transportation in North America, today reported certain preliminary LTL segment operating metrics for November 2024. LTL tonnage per day decreased 4.0%, as compared with November 2023, attributable to a year-over-year decrease of 4.2% in shipments per day and an increase of 0.2% in weight per shipment. Actual results for November 2024 may vary from the preliminary results reported above. About XPO XPO, Inc. (NYSE: XPO) is a leader in asset-based less-than-truckload (LTL) freight transportation in North America. The company’s customer-focused organization efficiently moves 18 billion pounds of freight per year, enabled by its proprietary technology. XPO serves approximately 54,000 customers with 611 locations and 38,000 employees in North America and Europe, with headquarters in Greenwich, Conn., USA. Visit xpo.com for more information, and connect with XPO on LinkedIn , Facebook , X , Instagram and YouTube . Forward-looking Statements This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terms. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include the risks discussed in our filings with the SEC, and the following: the effects of business, economic, political, legal, and regulatory impacts or conflicts upon our operations; supply chain disruptions and shortages, strains on production or extraction of raw materials, cost inflation and labor and equipment shortages; our ability to align our investments in capital assets, including equipment, service centers, and warehouses to our customers’ demands; our ability to implement our cost and revenue initiatives; the effectiveness of our action plan, and other management actions, to improve our North American LTL business; our ability to benefit from a sale, spin-off or other divestiture of one or more business units or to successfully integrate and realize anticipated synergies, cost savings and profit opportunities from acquired companies; goodwill impairment; issues related to compliance with data protection laws, competition laws, and intellectual property laws; fluctuations in currency exchange rates, fuel prices and fuel surcharges; the expected benefits of the spin-offs of GXO Logistics, Inc. and RXO, Inc.; our ability to develop and implement suitable information technology systems; the impact of potential cyber-attacks and information technology or data security breaches or failures; our indebtedness; our ability to raise debt and equity capital; fluctuations in interest rates; seasonal fluctuations; our ability to maintain positive relationships with our network of third-party transportation providers; our ability to attract and retain key employees including qualified drivers; labor matters; litigation; and competition and pricing pressures. We caution that our operating results for November 2024 are not necessarily indicative of the results that may be expected for future periods. All forward-looking statements set forth in this release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements except to the extent required by law. Investor Contact Brian Scasserra +1-617-607-6429 brian.scasserra@xpo.com Media Contact Cole Horton +1-203-609-6004 cole.horton@xpo.com
The two-time defending champion Texas Longhorns are out of the NCAA women's volleyball tournament, eliminated 3-1 Friday in the regional semifinals by Creighton in State College, Pennsylvania. It wasn't an upset in terms of seeding, as the Bluejays are the No. 2 seed and Texas is No. 3 in the Penn State regional. But Texas is a four-time national champion and one of the sport's longtime powerhouses. Creighton has never made it to the final four but will have the chance to do so in Sunday's regional final against either No. 1 seed Penn State or No. 5 Marquette. This is Creighton's second appearance in a regional final; the Bluejays advanced in 2016 but were eliminated by Texas. On Friday, Creighton won its 25th match in a row, the longest active streak in Division I. Norah Sis led Creighton with 15 kills, 3 blocks and 13 digs. Editor's Picks NCAA volleyball tournament: 16 players to watch in regionals 1d Aishwarya Kumar and Michael Voepel Pitt volleyball chases history with a hunter's mindset 8d Aishwarya Kumar Creighton men's basketball coach Greg McDermott posted on social media that his team stopped practice to watch the clinching point of the volleyball match and to celebrate the Bluejays victory. Texas' quest to become the second Division I women's volleyball team to win three NCAA titles in a row came to an end. The only school to do that is Penn State, which won four consecutive titles from 2007-10. Madisen Skinner, who has won NCAA titles at Kentucky and Texas, led the Longhorns with 23 kills Friday. Texas won NCAA championships in 1988, 2012, 2022 and 2023, plus has gone to the NCAA final four 11 other times. The Longhorns started this season ranked No. 1 in the AVCA top 25 poll, but ran into some tough times right away, losing three of their first six matches. In its first season in the SEC, Texas went 13-3, finishing second to league champion Kentucky. The Wildcats advanced Thursday to the Pittsburgh regional final, where they will face host Pitt, the No. 1 overall seed, Saturday (ESPN2, 5 p.m. ET) for a trip to the final four. Saturday's other regional final is at Louisville, where the No. 1 seed Cardinals host No. 2 Stanford (ESPN2, 7:30 p.m. ET). Sunday's regional finals will be held at Penn State and Nebraska. The final four is in Louisville, with the semifinals on Dec. 19 at 6:30 and 9:30 p.m. ET on ESPN and the final on Dec. 22 at 3 p.m. ET on ABC.
OTTAWA — NDP Leader Jagmeet Singh said he won't play Conservative Leader Pierre Poilievre's games by voting to bring down the government on an upcoming non-confidence motion. The Conservatives plan to introduce a motion that quotes Singh's own criticism of the Liberals, and asks the House of Commons to declare that it agrees with Singh and has no confidence in the government. The motion is expected to be introduced on Thursday and the debate and vote are set for Monday. Singh said he is not going to trigger an election when he believes Poilievre would cut programs the NDP fought for. "I'm not going to be playing Pierre Poilievre's games. I have no interest in that. We're frankly not going to allow him to cut the things that people need. I want to actually have dental care expanded, I want people to actually start to benefit from the pharmacare legislation we passed," Singh said. With the NDP's expected support, the Liberals should survive this next confidence vote brought forward by the Conservatives. The Tories have vowed to bring forward non-confidence motions every chance they get. The party will have two more opposition motions after this one, which are expected to continue to call for non-confidence. The NDP are scheduled to have their opposition day on Friday. Earlier on Tuesday, Singh did acknowledge that the Conservatives have a sizeable lead on the NDP in public opinion polls, while giving a campaign-style speech to visiting party staffers from across the country. Most pollsters in Canada have recorded a roughly 20 point lead for the Conservatives over both the Liberals and NDP for the last few months. The non-confidence vote was scheduled after Speaker Greg Fergus intervened to pause a filibuster on a privilege debate about a green technology fund. The Conservatives have said they would only end that debate if the NDP agree to topple the government or if the Liberals turn over unredacted documents at the centre of the parliamentary gridlock. This report by The Canadian Press was first published Dec. 3, 2024. David Baxter, The Canadian PressNICEVILLE, Fla. (AP) — Aaliyah Nye scored 15 points and No. 23 Alabama coasted to an 83-33 win over Alabama State on Monday at the Emerald Coast Classic. Sarah Ashlee Barker and Karly Weathers both added 12 points for the Crimson Tide (7-0). Zaay Green had 11. Barker, Weathers and Green combined to go 12 of 16 from the field as Alabama shot 51% and made 23 of 34 free throws.— Enhanced liquidity through issuance of Second Lien Notes — Obtained amendment to credit agreement and extended note payable — Fourth quarter fiscal 2024 revenue down 7.3% to $130.4 million — Full year fiscal 2024 revenue down 14.3% to $490.7 million — Conference call begins today at 4:30 pm ET WEST LAFAYETTE, Ind., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Inotiv, Inc. (Nasdaq: NOTV) (the “Company”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced financial results for the three months (“Q4 FY 2024”) and twelve months ("FY 2024") ended September 30, 2024. Revenue by Segment (in millions of USD) Management Commentary Robert Leasure Jr., President and Chief Executive Officer, commented, “The fourth quarter was productive for Inotiv, including completing previously announced site optimization plans, some recovery of NHP sales with existing and new customers, raising capital and amending our credit agreement. Going forward, we are planning further integration and cost reduction initiatives, we will continue to focus on improving the customer experience, and we will continue to evaluate opportunities to improve our balance sheet. We look forward to seeing results from initiatives we have implemented during the last two years. Moreover, addressing the challenges we have faced over the past two years has made many aspects of our business stronger. "Overall, with the exception of the volatility we saw in the NHP business in 2024, we have seen financial improvements in some other aspects of our business. In addition to improving our financial performance, our goals for 2025 include reducing volatility in our NHP business and a continued focus on the customer, compliance and animal welfare. We will continue our customer-driven strategy that has a strong scientific foundation and fuels innovation as One Inotiv. We’ve grown stronger, adding key partners and building new services and products that have expanded our scientific expertise, services, and offerings. By integrating these efforts over the last two years, we’re streamlining our systems and processes to create a more unified customer driven approach across our global footprint." Highlights Q4 FY 2024 Highlights Revenue was $130.4 million in Q4 FY 2024, a decrease of $10.3 million or 7.3%, compared to $140.7 million during the three months ended September 30, 2023 (“Q4 FY 2023”), primarily driven by a $5.6 million, or 11.2%, decrease in Discovery and Safety Assessment ("DSA") revenue and a decrease of $4.7 million, or 5.2%, in Research Models and Services (“RMS”) revenue. Revenue of $130.4 million in Q4 FY 2024 was an increase of $24.6 million, or 23.3%, compared to revenue of $105.8 million in the sequential prior quarter of Q3 FY 2024 2 . Consolidated net loss for Q4 FY 2024 was $18.9 million, or 14.5% of total revenue, compared to consolidated net loss of $8.7 million, or 6.2% of total revenue, in Q4 FY 2023. Consolidated net loss for Q4 FY 2024 was $18.9 million, or 14.5% of total revenue, compared to consolidated net loss of $26.1 million, or 24.7% of total revenue, in the sequential prior quarter of Q3 FY 2024. Adjusted EBITDA 1 in Q4 FY 2024 was $5.4 million, or 4.1% of total revenue, compared to $23.7 million, or 16.8% of total revenue, in Q4 FY 2023. Book-to-bill ratio for Q4 FY 2024 was 0.78x for the DSA services business. DSA backlog was $129.9 million at September 30, 2024, down from $132.1 million at September 30, 2023. FY 2024 Highlights Revenue was $490.7 million during FY 2024, a decrease of $81.7 million, or 14.3%, compared to $572.4 million during the twelve months ended September 30, 2023 ("FY 2023"), primarily driven by a $76.7 million, or 19.8%, decrease in RMS revenue and a $5.0 million, or 2.7%, decrease in DSA revenue. Consolidated net loss for FY 2024 was $108.9 million, or 22.2% of total revenue, compared to consolidated net loss of $104.9 million, or 18.3% of total revenue, for FY 2023. Consolidated net loss for FY 2024 included a $28.5 million charge related to the Resolution Agreement (the “Resolution Agreement”) the Company and its related entities entered into with the U.S. Department of Justice ("DOJ") and the United States Attorney’s Office for the Western District of Virginia (“USAO-WDV”) and the Plea Agreement (the “Plea Agreement”) Envigo RMS, LLC and Envigo Global Services, Inc. entered into with the DOJ and the USAO-WDV. Each of the Resolution Agreement and the Plea Agreement were entered into on June 3, 2024 in connection with the resolution of a previously-announced criminal investigation into the Company’s shuttered canine breeding facility located in Cumberland, Virginia. Consolidated net loss for FY 2023 included a $66.4 million non-cash goodwill impairment charge related to the RMS segment. Adjusted EBITDA 1 in FY 2024 was $18.2 million, or 3.7% of total revenue, compared to $65.8 million, or 11.5% of total revenue, in FY 2023. Book-to-bill ratio for FY 2024 was 0.99x for the DSA services business. 1 This is a non-GAAP financial measure. Refer to “Note on Non-GAAP Financial Measures” in this release for further information. 2 "Q3 FY 2024" refers to the three months ended June 30, 2024. Operational and Capital Resources Highlights The consolidation of operating activities from the Company's Blackthorn, U.K. facility into its Hillcrest, U.K. site have been completed and the Company exited the leased facility by the end of September 2024. On September 13, 2024, the Company entered into a Seventh Amendment to the Company's Credit Agreement. The Seventh Amendment, among other changes, permitted the incurrence of the issuance by the Company of Second Lien Notes (as defined below) in an aggregate amount of approximately $22.6 million, made certain changes to the component definitions of the financial covenants, including the definition of Fixed Charge Coverage Ratio, and increased the cash netting capability in the Secured Leverage Ratio covenant. The Seventh Amendment included the addition of a maximum capital expenditure limit and a minimum EBITDA test effective September 13, 2024, waived the existing financial covenants from the date of the Seventh Amendment until June 30, 2025, and established additional new financial covenants for the fiscal quarters starting June 30, 2025 and thereafter. On September 13, 2024, certain investors acquired $22.0 million principal amount of the 15.00% Senior Secured Second Lien PIK Notes due 2027 (the "Second Lien Notes") and warrants to purchase 3,946,250 of the Company’s common shares for consideration comprised of (i) $17.0 million in cash and (ii) the cancellation of approximately $8.3 million of the Company’s 3.25% Convertible Senior Notes due 2027. In connection with this transaction, the Company also issued to the structuring agent approximately $0.6 million principal amount of the Second Lien Notes and warrants to purchase 200,000 of the Company's common shares as compensation for its services as structuring agent. Announcement In fiscal 2025, the Company intends to initiate the next phase of our site optimization program to further improve and consolidate additional RMS facilities in the U.S. This next phase is another important program, which the Company projects will eliminate approximately $4.0 million to $5.0 million in operating expenses and further improve RMS margins when completed. Most of these financial benefits are not expected until fiscal 2026. The Company expects to incur additional immaterial capital expenditures, which are included in our capital plan, and immaterial expenses in connection with the next phase of our site optimization program. The Company also believes it can achieve another $0.5 million to $1.0 million in cost reductions from the continued integration of its North American transportation and distribution system. Subsequent Event On October 24, 2024, the Company and Orient BioResource Center entered into a Third Amendment to extend the maturity date of the Seller Payable to January 27, 2026. Fourth Quarter Fiscal 2024 Financial Results (Three Months Ended September 30, 2024) Revenue decreased 7.3% to $130.4 million in Q4 FY 2024 as compared to $140.7 million in Q4 FY 2023. The lower total revenue in the fourth quarter was driven by a $5.6 million decrease in DSA revenue and a $4.7 million decrease in RMS revenue. DSA revenues decreased primarily due to a decrease in safety assessment services of $3.4 million, which was primarily due to decreased revenue from general toxicology services as a result of a change in the mix of studies conducted, and a decrease in discovery service revenue of $2.0 million as a result of the decline in overall biotech activity in the market. The decrease in RMS revenue was due to the lower non-human primate ("NHP") related product and service revenue of $1.6 million mainly as a result of lower pricing for NHPs. Additionally, in Q4 FY 2024, there was a decrease of $1.7 million in RMS revenue as a result of the sale of our Israeli businesses in Q4 FY 2023. The remaining decrease in RMS revenue in Q4 FY 2024 was primarily due to a decline in small animal model sales. Operating loss was $13.2 million in Q4 FY 2024 as compared to operating income of $2.5 million in Q4 FY 2023. RMS operating income decreased by $10.7 million, or 91.1%, driven by the decrease in revenue discussed above and an increase in cost of revenue of $6.8 million. The increased RMS cost of revenue was primarily due to increased costs associated with NHP-related product and service revenue of $10.4 million, partially offset by decreases from the impact of the sale of our Israeli business of $1.2 million, as well as decreases in restructuring costs, transportation costs and costs related to sites closed in connection with our optimization plan. DSA operating income decreased by $4.8 million, or 71.5%, primarily due to the decrease in revenue noted above. Full Year Fiscal 2024 Financial Results (Twelve Months Ended September 30, 2024) Revenue decreased 14.3% to $490.7 million in FY 2024 as compared to $572.4 million in FY 2023. The lower total revenue in FY 2024 was primarily driven by a $76.7 million decrease in RMS revenue and a decrease in DSA revenue of $5.0 million. The decrease in RMS revenue was due primarily to the negative impact of lower NHP sales of $60.4 million. Additionally, there was a decrease of $10.6 million in RMS revenue as a result of the sale of our Israeli businesses in the fourth quarter of fiscal 2023. The remaining decrease in RMS revenue in FY 2024 was due primarily to decreases in small animal model sales and RMS services in the U.S., partially offset by an increase in diet, bedding and enrichment product sales and an increase in small animal model sales outside of the U.S. and RMS services outside of the U.S. The decrease in DSA revenue in FY 2024 was primarily driven by a $5.0 million decrease in discovery services revenue as a result of the decline in overall biotech activity in the market. Operating loss was $86.4 million in FY 2024 as compared to $81.5 million in FY 2023. The higher total operating loss in FY 2024 was due to an increase in RMS operating loss of $7.0 million and a decrease in DSA operating income of $6.5 million, partially offset by a decrease in unallocated corporate expenses of $8.6 million. The increase in RMS operating loss was primarily driven by the negative margin impact resulting from the decrease in RMS revenue noted above and included the $28.5 million charge incurred during FY 2024 related to the Resolution Agreement and Plea Agreement, partially offset by the $66.4 million non-cash goodwill impairment charge related to our RMS segment in FY 2023 that did not recur in FY 2024. DSA operating income decreased primarily due to the decreased revenue noted above. Unallocated corporate expenses decreased primarily due to decreases in professional fees, acquisition and integration costs, stock compensation expense and compensation and benefits expense, partially offset by an increase in information technology expenses. Cash and cash equivalents of $21.4 million at September 30, 2024, compares to $35.5 million at September 30, 2023. Cash used by operating activities was $6.8 million for FY 2024, which included payments of $6.5 million related to the Resolution Agreement and the Plea Agreement, compared to cash provided by operating activities of $27.9 million for FY 2023. For FY 2024, capital expenditures totaled $22.3 million compared to $27.5 million for FY 2023. Total debt, net of debt issuance costs, as of September 30, 2024, was $393.3 million. As of September 30, 2024, there were no borrowings on the Company’s $15.0 million revolving credit facility. Webcast and Conference Call Management will host a conference call on Tuesday, December 3, 2024, at 4:30 pm ET to discuss fourth quarter and full year fiscal 2024 results. Interested parties may participate in the call by dialing: (800) 267-6316 (Domestic) (203) 518-9783 (International) "Inotiv" (Conference ID) The live conference call webcast will be accessible in the Investors section of the Company’s web site and directly via the following link: https://viavid.webcasts.com/starthere.jsp?ei=1697836&tp_key=5c08e65813 For those who cannot listen to the live broadcast, an online replay will be available in the Investors section of Inotiv’s web site at: https://ir.inotiv.com/events-and-presentations/default.aspx . Note on Non-GAAP Financial Measures This press release contains financial measures that are not calculated in accordance with generally accepted accounting principles in the United States (GAAP), including Adjusted EBITDA and Adjusted EBITDA as a percentage of total revenue for the three and twelve months ended September 30, 2024 and 2023 and selected business segment information for those periods. Adjusted EBITDA as reported herein refers to a financial measure that excludes from consolidated net loss, statements of operations line items interest expense and income tax benefit/provision, as well as non-cash charges for depreciation and amortization of intangible assets, stock compensation expense, acquisition and integration costs, startup costs, restructuring costs, unrealized foreign exchange (gain) loss, amortization of inventory step up, (gain) loss on disposition of assets, other unusual, third party costs, the charge in connection with the Resolution and Plea Agreements, gain on sale of subsidiary, gain on extinguishment of debt, and goodwill impairment loss. The adjusted business segment information excludes from operating loss and unallocated corporate operating expenses for these same expenses. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in this press release. The Company believes that these non-GAAP measures provide useful information to investors. Among other things, they may help investors evaluate the Company’s ongoing operations. They can assist in making meaningful period-over-period comparisons and in identifying operating trends that would otherwise be masked or distorted by the items subject to the adjustments. Management uses these non-GAAP measures internally to evaluate the performance of the business, including to allocate resources. Investors should consider these non-GAAP measures as supplemental and in addition to, not as a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. Management has chosen to provide this supplemental information to investors, analysts, and other interested parties to enable them to perform additional analyses of our results and to illustrate our results giving effect to the non-GAAP adjustments. Management strongly encourages investors to review the Company's condensed consolidated financial statements and publicly filed reports in their entirety and cautions investors that the non-GAAP measures used by the Company may differ from similar measures used by other companies, even when similar terms are used to identify such measures. About the Company Inotiv, Inc. is a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models and related products and services. The Company’s products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development, all while increasing efficiency, improving data, and reducing the cost of taking new drugs and medical devices to market. Inotiv is committed to supporting discovery and development objectives as well as helping researchers realize the full potential of their critical research and development projects, all while working together to build a healthier and safer world. Further information about Inotiv can be found here: https://www.inotiv.com/ . This release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, statements regarding our intent, belief or current expectations with respect to ( i) our strategic plans; (ii) trends in the demand for our services and products; (iii) trends in the industries that consume our services and products; (iv) market and company-specific impacts of NHP supply and demand matters; (v) compliance with the Resolution Agreement and Plea Agreement and the expected impacts on the Company related to the compliance plan and compliance monitor, and the expected amounts, timing and expense treatment of cash payments and other investments thereunder; (vi) our ability to service our outstanding indebtedness and to comply or regain compliance with financial covenants, including those established by the Seventh Amendment to our Credit Agreement; (vii) our current and forecasted cash position; (viii) our ability to make capital expenditures, fund our operations and satisfy our obligations; (ix) our ability to manage recurring and unusual costs; (x) our ability to realize the expected benefits related to our restructuring and site optimization plans; (xi) our expectations regarding the volume of new bookings, pricing, operating income or losses and liquidity; (xii) our ability to effectively fill the recent expanded capacity or any future expansion or acquisition initiatives undertaken by us; (xiii) our ability to develop and build infrastructure and teams to manage growth and projects; (xiv) our ability to continue to retain and hire key talent; (xv) our ability to market our services and products under our corporate name and relevant brand names; (xvi) our ability to develop new services and products; (xvii) our ability to negotiate amendments to the Credit Agreement or obtain waivers related to the financial covenants defined within the Credit Agreement, including those detailed in the Company's filings with the U.S. Securities and Exchange Commission. Further discussion of these risks, uncertainties, and other matters can be found in the Risk Factors detailed in our Annual Report on Form 10-K as filed on December 12, 2023, as well as other filings we make with the Securities and Exchange Commission.
NFL Hall of Fame WR Randy Moss announces battle with cancer outside of bowel duct on Instagram Live NFL Hall of Fame wide receiver Randy Moss announced that he has been battling a cancer found in his bowel duct between his pancreas and liver on Instagram live. Moss, aided by a cane, introduced himself as a cancer survivor and thanked his “prayer warriors” for their support. He had a Whipple procedure to put a stent on his liver on Thanksgiving after experiencing urine discoloration. Moss spent the last six days in the hospital before getting out on Friday and said he’s nursing himself back to full health with chemotherapy and radiation. Lindsey Vonn to enter World Cup ski races next weekend in Switzerland in her comeback at age 40 BEAVER CREEK, Colo. (AP) — Lindsey Vonn will return to World Cup ski racing next weekend for a pair of super-G events in St. Moritz, Switzerland, as she continues her comeback at 40 years old. Vonn teased her return in an Instagram post through her sponsor, Red Bull, on Friday morning. She said “I hear St. Moritz is pretty nice this time of year.” The U.S. Ski Team then confirmed she will race in St. Moritz. She’s won five of her 82 World Cup races on the venue at St. Moritz. Picabo Street, a two-time Olympic medalist and Vonn’s former teammate, says “it’s the coolest thing ever.” De'Vondre Campbell won't be part of the 49ers after his refusal to enter a game, Kyle Shanahan says SANTA CLARA, Calif. (AP) — San Francisco coach Kyle Shanahan said linebacker De’Vondre Campbell won’t be part of the 49ers moving forward after he refused to enter a game after losing his starting job. Shanahan said the team is still working through the options of how to deal with Campbell after he walked to the locker room in the middle of a 12-6 loss to the Los Angeles Rams. Shanahan says the team is weighing its options, which could include a suspension or release, but that Campbell won't be part of the team for the final three weeks of the season. Saudi Arabia's plans to host the men's World Cup 2034 will be harmful for the climate, experts say Saudi Arabia says that to host the 2034 World Cup in men’s soccer, it will build or renovate 15 stadiums, create a futuristic city and expand airports and public transport in a massive buildout to accommodate millions of athletes, coaches and spectators. That will emit tons of planet-warming greenhouse gases as concrete and steel are manufactured and transported, diesel-powered excavators and trucks move material and new buildings are powered and cooled. The buildings and construction sector, taken together, is the largest emitter of greenhouse gases globally. Because of the scale of the building plans and travel needed for the event, experts say the toll on the climate could be enormous. Yankees get closer Devin Williams from Brewers for Nestor Cortes, Caleb Durbin NEW YORK (AP) — The New York Yankees acquired All-Star closer Devin Williams from the Milwaukee Brewers for left-hander Nestor Cortes and infield prospect Caleb Durbin. The Yankees also will send $2 million to the Brewers as part of the trade. A 30-year-old right-hander, Williams and his signature “Airbender” changeup are eligible for free agency after the 2025 season. He was diagnosed during spring training with two stress fractures in his back and didn’t make his season debut until July 28. Williams was 14 for 15 in save chances with a 1.25 ERA, striking out 38 and walking 11 in 21 2/3 innings. Cubs acquiring All-Star outfielder Kyle Tucker in trade with the Astros, AP source says CHICAGO (AP) — The Chicago Cubs are acquiring All-Star outfielder Kyle Tucker in a trade with the Houston Astros, paying a big price for one of baseball’s best hitters, a person familiar with the situation said. The person spoke to the AP on condition of anonymity because the move was pending a review of medical reports. The Cubs are sending third baseman Isaac Paredes, right-hander Hayden Wesneski and Cam Smith, one of their top infield prospects, to the Astros for Tucker, who is eligible for free agency after the 2025 season. Tucker was limited to 78 games this year because of a fractured right shin, but he hit .289 with 23 homers and 49 RBIs for the AL West champions. US Olympic and Paralympic officials put coach on leave after AP reports sexual abuse allegations The U.S. Olympic & Paralympic Committee has placed an employee on administrative leave after The Associated Press reported that one of its coaches was accused of sexually abusing a young biathlete, causing her so much distress that she attempted suicide. USOPC officials sent an email to the U.S. Biathlon national team saying it wanted to commend the athletes who came forward with the “concerning allegations of abuse." The email, which did not name the employee, said officials were conducting an internal investigation. USOPC spokesperson Jon Mason said no further information would be released while the inquiry is underway. New West Virginia coach Rich Rodriguez says leaving for Michigan 17 years ago was a 'mistake' MORGANTOWN, W.Va. (AP) — Rich Rodriguez says he regrets leaving West Virginia 17 years ago. Rodriguez was introduced as the coach at his alma mater on Friday. Based on the welcome he got from the thousands of West Virginia fans in attendance, much seems to be forgiven. Rodriguez told the crowd that he never should have left his home state. The 61-year-old coach says he's grown both as a person and a coach throughout his long career, and that his departure at the end of the 2007 season for a head coaching job at Michigan was a mistake. Rodriguez went 60-26 at West Virginia from 2001 to 2007. Woman who falsely accused Duke lacrosse players of rape in 2006 publicly admits she lied RALEIGH, N.C. (AP) — The woman who in 2006 falsely accused three Duke University lacrosse players of raping her has admitted publicly for the first time that she made up the story. The accusations made national headlines at the time, stirring tensions about race, class and the privilege of college athletes. Crystal Mangum, who is Black, said in an interview with the “Let’s Talk with Kat” podcast that she “made up a story that wasn’t true” about the white players who attended a party where she was hired to perform as a stripper “because I wanted validation from people and not from God.” The former Duke players were declared innocent in 2007 after Mangum’s story fell apart under legal scrutiny. Analysis: Only LeBron James knows what's happening right now, and what's in his future LAS VEGAS (AP) — LeBron James was starring in Las Vegas at this time last year, the headline attraction while he and the Los Angeles Lakers were about to win the inaugural version of the event now known as the NBA Cup. That's not the case this year. “Personal reasons ... he’s taking some time” is what Lakers coach JJ Redick said this week when detailing why James was missing from practice. “Left foot soreness” is the reason why the Lakers have ruled him out of Friday’s game in Minnesota. There’s been trade speculation in recent days. It's all very different than a year ago at Cup time.
‘My son forgot his tie and was bullied all day over what teachers made him wear’USDA Orders Testing of Milk Supply for Presence of Bird Flu Virus(The Center Square) – The Illinois House speaker’s executive assistant has reported to the witness stand at former House Speaker Michael Madigan’s corruption trial. Mika Baugher has worked for Illinois House Speaker Chris Welch, D-Hillside, since 2021. Baugher was Madigan’s executive assistant from 2017-2021. Madigan had been speaker for all but two years from 1983 to 2021. Baugher previously worked in the speaker’s office from 2001 to2010 and returned in 2013. U.S. government attorney Julia Schwartz introduced pages of Madigan’s schedules over a period of years, which included meetings and dinners with Madigan’s codefendant Michael McClain. The schedules also included meetings with Reyes Kurson law partner Victor Reyes, Madigan campaign worker Ed Moody, state Reps. Eddie Acevedo, D-Chicago, and Mike Zalewski, D-Riverside, Gov. J.B. Pritzker and others. AT&T Associate Director of Technology Jack Randall, who oversees wireless records for the company, took the stand Tuesday afternoon after former Chicago Alderman Daniel Solis finished his testimony. Randall discussed AT&T’s wireless network with a focus on the years 2017 and 2018. Randall explained that any given call might not go through the network’s nearest processing center. Randall reviewed and verified six calls that had been presented as government exhibits. Prosecutors played several recordings of McClain Tuesday, including conversations with former Madigan chief of staff Tim Mapes. In a call with state Rep. Bob Rita, D-Blue Island, McClain warned Rita about emails related to a gaming bill. McClain advised Rita not to put things in print and said, “The feds are gonna look at it.” Government attorney Sarah Streicher then played a series of calls related to gaming legislation. In one recording, McClain said he was a “Madigan’s agent” and that he was “guiding Rita.” Earlier Tuesday, McClain defense attorney John Mitchell resumed his cross-examination of Solis. After Mitchell asked Solis about his city pension of “approximately $100,000” per year, Solis said it was important to him as a government cooperator to keep his pension. Solis said he understood that his truthful cooperation could lead to the dismissal of his remaining bribery charge and thereby allow him to keep his pension. When asked by Mitchell, Solis affirmed that he was a well-respected alderman and Latino leader in Chicago. At times during Mitchell’s cross-examination of Solis, McClain had his elbows on the table in front of him with his head lowered against his clasped hands. Mitchell referred to a videotaped meeting at Solis’ City Hall office on Dec. 18, 2017, when Solis and McClain discussed the proposed development of state-owned land in Chicago’s Chinatown neighborhood. During the conversation, Solis mentioned developers Eddie Ni and Ray Chin and then-Speaker Madigan. “Eddie and Ray, have always been, well, not Eddie, ‘cause he’s recently maybe the last five years, but Ray, for the 22 years I’ve been here, he’s always been a strong supporter. Listens to my advice and everything. And so, in the past, I have been able to steer some work to Mike. And these guys will do the same thing. And then, so I’m hoping whatever happens in this 2019, 2018 election that this is gonna go through,” Solis told McClain. The Chinatown project faced opposition from then-Illinois Transportation Secretary Randy Blankenhorn, who served under Republican Gov. Bruce Rauner. In undercover video former Chicago Alderman Daniel Solis captured for federal investigators on Dec. 18, 2017, Solis meets with Michael McClain, codefendant in the corruption case against former Illinois House Speaker Michael Madigan. During the meeting with Solis, McClain expressed optimism that the project might still go through. McClain also offered a “dual path,” with Democrat J.B. Pritzker projected to defeat Rauner in the gubernatorial election the following year. “Instead of just keeping it quiet, if that’s what we think is happening, then we wanna get inside the Pritzker group. So in 2019, the Pritzker IDOT will say, “OK,” McClain told Solis. After Mitchell finished, government attorney Diane MacArthur asked for a sidebar discussion, which led to an early lunch break at Judge John Robert Blakey’s direction. MacArthur introduced a recording of a phone call from Oct. 10, 2014, before Solis began cooperating with the government in 2016. During the call, Madigan asked Solis for an introduction to developer Michael Chivini of The Pizzuti Companies. Madigan attorney Dan Collins asked Solis if, in cooperation with the government, he was investigating conduct or people. Solis said he thought he was investigating crimes. When Collins asked if he was asked to develop evidence against Madigan, Solis said, “I’m not sure how to answer that.” Collins pressed Solis about one of his visits to a massage parlor, which Solis said he did at the government’s instruction. MacArthur objected and called for a sidebar. Shortly after, Judge Blakey told Solis he could step down. In undercover video former Chicago Alderman Daniel Solis captured for federal investigators on Dec. 18, 2017, Solis meets with Michael McClain, codefendant in the corruption case against former Illinois House Speaker Michael Madigan. The jury was not seated until 9:59 a.m. Tuesday, after Blakey met with prosecutors and defense attorneys over “legal matters.” The judge called for an early lunch shortly after 11 a.m., again due to “legal matters” that involved attorneys resolving several issues. Blakey allowed prosecutors to address Solis’ cooperation in other investigations, including the corruption trial of former Chicago Alderman Ed Burke. The judge, however, instructed government attorneys not to use Burke’s name during redirect testimony. Prosecutors agreed to defense attorneys’ request that Burke be referred to as a “high-ranking official” instead of a “high-ranking alderman.” Madigan’s defense team had earlier objected to potential testimony from AT&T's Randall. McClain’s defense team joined the objection, but attorneys from all sides resolved the issues before the jury returned from lunch. Connie Mixon, professor of Political Science and director of the Urban Studies Program at Elmhurst University, told The Center Square that government attorneys have a lot of material. “They have many counts. They’re hoping that at least some of those counts are going to stick, and (they) usually have built a solid foundation upon which to make their case,” Mixon explained. Madigan and McClain are charged with 23 counts of bribery, racketeering and official misconduct in connection with a scheme that federal prosecutors referred to as "Madigan Enterprise." Prosecutors allege that ComEd and AT&T Illinois gave out no-work or little-work jobs and contract work to those loyal to Madigan to get legislation passed that would benefit them in Springfield. Four ComEd executives and lobbyists were convicted last year in a related trial, and ComEd itself agreed to pay $200 million in fines as part of a deferred prosecution agreement with prosecutors. Madigan served in the Illinois House from 1971 to 2021. He was speaker for all but two years between 1983 and 2021. Madigan also chaired the Democratic Party of Illinois from 1998 to 2021. McClain was a longtime lobbyist who previously served as a state representative in Illinois’ 48th district from 1973 to 1982. The trial is scheduled to resume Wednesday at the Everett McKinley Dirksen U.S. Courthouse in Chicago.
Donald Trump’s aides have suggested that Iowa Senator Joni Ernst may be trying to sink the nomination of Pete Hegseth as defense secretary so that she can get the job instead. Ernst, a combat veteran and sexual assault survivor, has so far refused to publicly back Hegseth’s selection by Trump amid a string of controversies surrounding the Fox News host. Since his nomination, reports have emerged of Hegseth being accused of sexual assault , workplace misconduct, and alleged heavy drinking during work hours and at events. Additionally, he allegedly had multiple affairs throughout his first and second marriage – one of which led to him fathering a child with a Fox News producer. Ernst is considered a critical vote in Hegseth’s confirmation process given she is one of the nine women Republican Senators and had been rumored to be a possible replacement for the job. But her vote is also meaningful because of her military background and advocacy for sexual assault survivors. She has a long track record of supporting legislation aimed at addressing sexual assault within the military. While Ernst mulls over whether or not she will throw her support behind Hegseth, Trump’s aides have reportedly suggested she is holding out because she wants the role, according to The Guardian. But the Iowa senator publicly insists her hesitancy is based on the vetting process. “For a number of our senators, they want to make sure that any allegations are cleared, and that’s why we have to have a very thorough vetting process,” Ernst told Fox News on Thursday. In the same interview, Ernst confirmed she had not been convinced to vote “yes” on Hegseth. As defense secretary, Hegseth would be responsible for overseeing all U.S. military operations second to the president and providing the president with defense advice. The moment Trump nominated Hegseth for the position questions about his qualifications arose. Hegseth is a veteran of the Army National Guard who served in Iraq and Afghanistan. But he’s most well-known for being a Fox News host. Those questions have turned into genuine concerns for many since media reports revealed Hegseth has a history of sexual misconduct and heavy alcohol intake. Hegseth has denied those allegations and even promised to refrain from drinking alcohol if he is confirmed. But even with Trump, his own mother , former colleagues and Trump-aligned Senators backing him, it may not be enough for Ernst to vote for him. Hegseth is working with a very narrow margin in his confirmation vote. Assuming all Democratic Senators vote against him, he can only lose three Republican votes.