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AP Business SummaryBrief at 3:14 p.m. ESTArticle content Southern resident killer whales always look sharp in their smooth black-and-white body suits, but now they have a new accessory. Dead salmon hats. Researchers in Washington have noticed at least one orca balancing salmon on its head in Puget Sound this fall, taking the dead fish for a ride and possibly snacking on the salmon at its leisure. Sporting salmon-corpse lids isn’t exactly new behaviour for the southern residents. The phenomenon was first noticed in 1987, when for that one year, a female from K-pod started wearing a salmon on her head. Within a few weeks, the other endangered pods, J and L, decided to try the fish-hats on as well. Last month, J27 Blackberry, a 32-year-old male, was photographed exhibiting the same behaviour at Point No Point, Washington, off Whidbey Island in Puget Sound. Just why the orcas are doing it is a bit of a mystery. “Honestly, we have no idea why this started again, why it happens or why it seems to be started again,” Dr. Deborah Giles, a Friday Harbour-based researcher who heads the science teams at the Wild ORCA, told the Times Colonist on Friday. She said the fish-hat fad is likely linked to food availability in a certain place. Giles said there have been healthy salmon runs in Admiralty Inlet in Puget Sound, where all three pods have been spending a lot of time recently feeding on fish. And that’s generally been the area where some orcas have been spotted wearing salmon. Andrew Foote, an evolution ecologist at the University of Oslo in Norway, told New Scientist last week it’s possible that some of the original orcas who took part in the fish-hat fad are still around and remember it from before. The Times Colonist reached out to marine-mammal scientists at the Fisheries Department to see if the behaviour has been noticed in Canadian waters amid salmon runs on the Fraser River and other salmon spawning staging areas around Vancouver Island. The DFO did not immediately return the query. J-pod was spotted in Active Pass this week. New Scientist reported this week that large runs of chum salmon in South Puget Sound may be producing more food than the orcas can immediately eat, so they’re packing them on their heads. Giles told New Scientist that mammal-eating orcas have been seen carrying pieces of food under their pectoral fins, tucked in next to their bodies. Because salmon are smaller, the southern residents, which are fish eaters, may be using their heads instead. It isn’t clear how many other whales are exhibiting the behaviour, or if other pods are following suit, said Giles. It may be that the photographed orca was just playing with the salmon. Erin Gless of the Pacific Whale Watch Association, which represents about 30 whale-watching companies on both sides of the border, said there have been no reports of the behaviour from members because under agreements, whale watchers don’t view the southern residents. “It has been making its way around social media,” said Gless. “I think it’s more of a fun distraction [type] of story as opposed to a pressing whale one.” Giles agrees, saying the bigger issue is that endangered fish-eating orcas are facing dire threats in the Pacific Northwest with fish shortages, noise pollution from increasing shipping traffic that interferes with their ability to find food, and toxins and pollution in the water. The J-, K- and L-pods are down to just 73 orcas, according to the latest census completed in July by the Center for Whale Research, based in Friday Harbor, Washington. Two adult males were lost and a male calf that was born and counted in the census period subsequently died. A statement from the Center for Whale Research last month said research “clearly shows that survival rates are closely tied to Chinook salmon abundance,” adding recovery isn’t possible without an increase in that prey. Giles noted the salmon-hat phenomenon may show some pods are getting enough to eat now, “but they’re not getting enough to eat the entire year — both in the United States and Canada — and that’s a real cause for concern.” According to researchers, baleen whales such as grays and humpbacks often sport seaweed hats, something known as “kelping,” where they swim through seaweed, sometimes leaving it on their heads. Starting in 2025, boaters in the U.S. will be required to stay at least 1,000 yards from southern resident killer whales in Washington state waters. A Senate bill expands the existing setback from 300 to 400 yards. Canada’s regulations stipulate boaters must stay 400 metres from all killer whales in southern coastal waters from Ucluelet to Campbell River, and 200 metres in other areas. dkloster@times colonist.comGreen arms scrap $600 million bond offer
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Road-weary Jets aim to keep division lead vs. resilient StarsJimmy Spithill introduces his new Red Bull Italy SailGP TeamNEW YORK (AP) — A gunman killed UnitedHealthcare’s CEO on Wednesday in a “brazen, targeted attack” outside a Manhattan hotel where the health insurer was holding its investor conference, police said, setting off a massive search for the fleeing assailant hours before the annual Rockefeller Center Christmas tree lighting nearby. Brian Thompson, 50, was shot around 6:45 a.m. as he walked alone to the New York Hilton Midtown from a nearby hotel, police said. The shooter appeared to be “lying in wait for several minutes” before approaching Thompson from behind and opening fire , New York City Police Commissioner Jessica Tisch said. Police had not yet established a motive. “Many people passed the suspect, but he appeared to wait for his intended target,” Tisch said, adding that the shooting "does not appear to be a random act of violence.” Surveillance video reviewed by investigators shows someone emerging from behind a parked car, pointing a gun at Thompson’s back, then firing multiple times from several feet away. The gunman continues firing, interrupted by a brief gun jam, as Thompson stumbles forward and falls to the sidewalk. He then walks past Thompson and out of the frame. “From watching the video, it does seem that he’s proficient in the use of firearms as he was able to clear the malfunctions pretty quickly,” NYPD Chief of Detectives Joseph Kenny said. Thompson was shot at least once in the back and once in the calf, Tisch said. The shooter, who wore a jacket, face mask and large backpack, fled through Midtown on foot before pedaling an electric bike into Central Park a few blocks away, police said. The assailant remained at large Wednesday afternoon, sparking a search that included police drones, helicopters and dogs. “Brian was a highly respected colleague and friend to all who worked with him,” the insurer’s Minnetonka, Minnesota-based parent company, UnitedHealth Group Inc., said in a statement. "We are working closely with the New York Police Department and ask for your patience and understanding during this difficult time.” Police issued a poster showing a surveillance image of the man pointing what appeared to be a gun and another image that appeared to show the same person on a bicycle. Minutes before the shooting, he stopped at a nearby Starbucks, according to additional surveillance photos released by police on Wednesday afternoon. They offered a reward of up to $10,000 for information leading to an arrest and conviction. Thompson’s wife, Paulette Thompson, told NBC News that he told her “there were some people that had been threatening him.” She didn’t have details but suggested the threats may have involved issues with insurance coverage. Eric Werner, the police chief in the Minneapolis suburb where Thompson lived, said his department had not received any reports of threats against the executive. The killing shook a part of New York City that's normally quiet at that hour, happening about four blocks from where tens of thousands of people were set to gather for Wednesday night’s tree lighting. Police promised extra security for the event. The hotel is also a short walk from other tourist sites, including the Museum of Modern Art and Radio City Music Hall, and is often dense with office workers and visitors on weekday mornings. Many security cameras are nearby. “We’re encouraging New Yorkers to go about their daily lives and their daily business but to be alert,” NYPD Chief of Department Jeffrey Maddrey said. Investigators recovered several 9 mm shell casings from outside the hotel and a cellphone from the alleyway through which the shooter fled. They were also searching Thompson's hotel room, interviewing his UnitedHealthcare colleagues and reviewing his social media, Kenny said. Police initially said the shooter rode into Central Park on a bicycle from the city’s bike-share program, CitiBike. But a spokesperson for the program’s operator, Lyft, said police officials informed the company Wednesday afternoon that the bike was not from the CitiBike fleet. Health care giant UnitedHealth Group was holding its annual meeting with investors to update Wall Street on the company's direction and expectations for the coming year. The company ended the conference early in the wake of Thompson's death. “I’m afraid that we — some of you may know we’re dealing with a very serious medical situation with one of our team members,” a company official told attendees, according to a transcript. “And as a result, I’m afraid we’re going to have to bring to a close the event today. ... I’m sure you’ll understand.” Thompson, a father of two sons, had been with the company since 2004 and served as CEO for more than three years. UnitedHealthcare is the largest provider of Medicare Advantage plans in the U.S. and manages health insurance coverage for employers and state-and federally funded Medicaid programs. Minnesota Gov. Tim Walz posted on the social platform X that the state is “sending our prayers to Brian’s family and the UnitedHealthcare team.” “This is horrifying news and a terrible loss for the business and health care community in Minnesota,” the Democrat wrote. ___ Associated Press writers Tom Murphy in Indianapolis, Steve Karnowski in St. Paul, Minnesota, and Anthony Izaguirre in Albany, New York, contributed to this story. Jake Offenhartz, Karen Matthews And Michael R. Sisak, The Associated Press
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Their reactions come amid the government’s proposed pension reforms that are due to take effect in January 2025. They include increasing monthly pension contributions from the current 6 per cent of an employee’s monthly basic salary to 12 per cent of their monthly gross salary. ALSO READ: Mandatory pension contributions to double in January Also, the pension contribution rate is expected to gradually increase further to 20 per cent of the employee’s gross salary by the year 2030, and will be split equally between the employer and employee, as Rwanda Social Security Board (RSSB) – the administrator of the mandatory pension scheme – indicated in a statement on November 28. According to the Ministry of Finance and Economic Planning, the reforms are expected to ensure long-term sustainability of the pension fund, improve the living conditions of the existing retirees and ensure social security for future generations. Labour unions expressed concern over a lack of consultation with workers’ representatives so that they provide inputs to proposed changes, instead of imposing them on employees – for which the pension scheme ideally exists – as contributors and ultimately beneficiaries. ALSO READ: Labour union appeals for pay rise amid high cost of living Africain Biraboneye, the General Secretary of Rwanda Workers’ Trade Union Confederation (CESTRAR) said that normally, increasing pension contribution rate per se is okay, as long as the employee is guaranteed more retirement benefits. “However, it comes when we have been indicating that there is a need for reforms for salaries to match prices on the market. Increasing [pension] contribution rate will result in the reduction of the even small pay an employee has been receiving, which will affect living conditions,” he said. “We think that it should be carefully considered with the participation of all stakeholders as it is done for labour law [review] whereby representatives of employers and employees are consulted and provide their inputs on their behalf,” he observed. ALSO READ: Should RSSB increase pension contributions? Eric Nzabandora, president of Labour Congress and Workers’ Brotherhood in Rwanda (COTRAF Rwanda) said that they have been advocating for setting up a minimum wage that responds to the current market realities but this has not yet been done. He added that while they have been pushing for increasing workers’ salaries to deal with the rise in the cost of living, no solution has been provided to that end. For Nzabandora, increasing pension contributions to come from the small remunerations an employee has been getting, should not be a priority, but rather, it should follow the raise in workers’ pay and their ability to meet their basic needs amid the current high cost of living. He held that it is an employee’s salary that is mainly factored in while determining the pension benefits they will get during retirement, rather than contribution rate. “When an employee’s salary is small, they will not get significant retirement benefits,” he said. As RSSB made many investments using employees’ contributions (savings), and therefore, Nzabandora said, it should show how they are managed and contribute to social security. He added that they want to understand how RSSB arrived at the proposed pension contribution rates. Labour unions concurred that there should be consultations with employees or their representatives for evidence-based decisions that consider a common ground. Employees should be involved in pension-related decisions Nzabandora decried the fact that workers’ representatives were not consulted regarding the proposed pension reforms yet they concern them as the contributors to the social security scheme. Again, he said, employees are not represented in terms of how RSSB makes investment decisions, despite paying contributions to the scheme. As employees contribute to the social security body, they should also have a say in the decisions regarding contributions – such as through their representatives – so that they provide their ideas before proposed changes are presented to Cabinet [for approval], Nzabandora suggested. While briefing journalists on new reforms on December 2, RSSB Chief Executive Officer Regis Rugemanshuro said that the social security fund (which is pension scheme dominated) currently has about Rwf2.6 trillion in assets. The social security fund is healthy, Rugemanshuro observed, indicating that from 2019/20 to 2023/24, RSSB’s net assets increased by 15 per cent compounded annual growth rate. He added that it registered more than Rwf418 billion in net income (profit) in 2023/24, of which he said Rwf240 billion came from its return on investment which he said was at 11 per cent. ALSO READ: Pension body looks to triple profit by 2025 According to Rugemanshuro, only nine per cent of public and private sector workers in Rwanda are covered by the mandatory pension scheme. This implies that about 90 per cent of Rwanda’s working population is employed in the informal sector and is therefore outside the scheme coverage.", "author": { "@type": "Person", "name": "Emmanuel Ntirenganya" }, "publisher": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/", "sameAs": ["https://www.facebook.com/TheNewTimesRwanda/","https://twitter.com/NewTimesRwanda","https://www.youtube.com/channel/UCuZbZj6DF9zWXpdZVceDZkg"], "logo": { "@type": "ImageObject", "url": "/theme_newtimes/images/logo.png", "width": 270, "height": 57 } }, "copyrightHolder": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/" } }Reforms are needed not only within the police force but also in the political parties that control the police when in power, along with all institutions directly linked to police activities, said speakers at an event yesterday. The event, titled "Why Police Could Not Become People-Friendly in 53 Years? Police Reform: Why and in Which Direction?" was organised by Humanity Foundation at the CIRDAP auditorium. Former IGP Nurul Huda argued that a people-friendly police force requires a shift in the vision of those who control it. "Without a change in mindset at the top, reform is impossible," he said. Speakers also said that colonial-era police laws must be urgently updated. Supreme Court Registrar Iktedar Ahmed criticised the low conviction rate in Bangladesh, which remains below 5%. He attributed this to weaknesses in investigations, which are hampered by political interference. He said that Public Prosecutors and judges are often appointed based on political recommendations, undermining impartiality in the justice system. Zakia Shishir, the grandmother of Mir Mughdho, a martyr of the July-August mass uprising, questioned the reasons behind the police's perceived poor behaviour. "Has there been any internal research to address these issues?" she asked. Dr Mazharul Islam, a history professor at Jahangirnagar University, called for a change in Bangladesh's political culture to end the concentration of power. "This has led to the promotion of incompetent people in key positions to maintain control," he said. Former DIG Mejbahunnabi expressed concerns over the Rapid Action Battalion's training, saying many officers receive less than the six months of training required by UN standards. He also pointed to an increase in extrajudicial killings since RAB's formation. DIG Golam Rasul called for a system to ensure state accountability, referring to a recent incident during the mass uprising where those responsible for ordering the shooting of protesters did not keep any written record of their decision. The speakers said comprehensive reforms are necessary across the entire justice system to restore public trust.
Debt Reduced to Under $155 Million as Company Continues its Technology Transformation ATLANTA, Dec. 04, 2024 (GLOBE NEWSWIRE) -- DLH Holdings Corp. (NASDAQ: DLHC) ("DLH” or the "Company”), a leading provider of science research and development, systems engineering and integration, and digital transformation and cyber security solutions to federal health IT and readiness agencies, today announced financial results for its fiscal fourth quarter and fiscal year ended September 30, 2024. Recent Highlights "As we close fiscal 2024, I believe that DLH is well positioned for the road ahead as we manage through this inflection point in our company's journey," said Zach Parker, DLH President and Chief Executive Officer. "We continued using our operating cash flow to reduce debt and ended the year with a total debt balance under $155 million. Furthermore, we recently announced an amendment to our credit facility that provides the flexibility to effectively navigate the transition of our CMOP contracts to small business contractors. That said, our pipeline of new business opportunities has never been stronger. We continue to actively bid on a host of opportunities leveraging our expanded customer base and capability set, and our recent new business win with the US Navy demonstrates the value our highly credentialed work force provides to our customers. Utilizing the platform of technology-powered solutions and services we have assembled through our acquisition program, we are confident in our ability to generate growth as we navigate the small business transition of a portion of our contract portfolio. We believe that our focus on providing innovative, high-value-added solutions in IT, public health, and digital transformation has put us on the path to greater operating results in the future, expansion in our business base, and higher shareholder value." Results for the Three Months Ended September 30, 2024 Revenue for the fourth quarter of fiscal 2024 was $96.4 million versus $101.5 million in fiscal 2023, once again reflecting strength across the Company's key strategic programs - primarily in public health and IT services - offset by certain work converting to small business set-aside contracts, including the one previously-discussed CMOP location. The Company anticipates additional CMOP contract award decisions during fiscal 2025 to eligible small business bidders. Income from operations was $6.4 million in fiscal 2024, versus $0.1 million in the fiscal 2023 fourth quarter and, as a percentage of revenue, the Company reported an operating margin of 6.6% in fiscal 2024 versus 0.1% in the prior-year period. In the fourth quarter of fiscal 2023, the Company booked a $7.7 million impairment charge on certain long-lived assets, which negatively impacted operating results for such period. General and administrative expenses declined approximately $1.8 million to $8.5 million in the fiscal 2024 fourth quarter from $10.2 million in fiscal 2023 as the company continued to strategically scale its indirect costs during this transitional period. Interest expense was $4.2 million in the fourth quarter of fiscal 2024 versus $4.8 million in the prior-year period, reflecting lower debt outstanding due to the Company's use of cash flow generation to de-lever the balance sheet. Income before income taxes was $2.2 million for the fourth quarter this year versus $(4.6) million in fiscal 2023, representing 2.3% and (4.6)% of revenue, respectively, for each period. For the three months ended September 30, 2024 and 2023, DLH recorded an income tax benefit of $0.1 million and $2.0 million, respectively. During the 2024 fiscal quarter and year, the Company benefited from stock-based compensation expense as options were exercised. The Company reported net income of approximately $2.3 million, or $0.16 per diluted share, for the fourth quarter of fiscal 2024 versus $(2.6) million, or $(0.18) per diluted share, for the fourth quarter of fiscal 2023. As a percentage of revenue for fiscal 2024 and 2023, net income was 2.4% and (2.6)%, respectively. On a non-GAAP basis, EBITDA for the three months ended September 30, 2024 was approximately $10.7 million versus $4.4 million in the prior-year period, or 11.1% and 4.3% of revenue, respectively. Adjusted EBITDA for the three months ended September 30, 2024 was approximately $10.7 million versus $12.1 million in the prior-year period, or 11.1% and 11.9% of revenue, respectively. Key Financial Indicators During the fourth quarter of fiscal 2024, DLH generated $12.4 million in operating cash. As of September 30, 2024 the Company had cash of $0.3 million and debt outstanding under its credit facility of $154.6 million versus cash of $0.2 million and debt outstanding of $179.4 million as of September 30, 2023. Of the $11.9 million debt reduction during the fourth quarter, $9.5 million were voluntary prepayments. The Company has satisfied all mandatory term amortization payments through fiscal 2025. As of September 30, 2024 total backlog was approximately $690.3 million, including funded backlog of approximately $155.1 million and unfunded backlog of $535.2 million. Conference Call and Webcast Details DLH management will discuss fourth quarter results and provide a general business update, including current competitive conditions and strategies, during a conference call beginning at 10:00 AM Eastern Time tomorrow, December 5, 2024. Interested parties may listen to the conference call by dialing 888-347-5290 or 412-317-5256. Presentation materials will also be posted on the Investor Relations section of the DLH website prior to the commencement of the conference call. A digital recording of the conference call will be available for replay two hours after the completion of the call and can be accessed on the DLH Investor Relations website or by dialing 877-344-7529 and entering the conference ID 4353784. About DLH DLH (NASDAQ: DLHC), a Russell 2000 company, enhances technology, public health, and cyber security readiness missions through science, technology, cyber, and engineering solutions and services. Our experts solve some of the most complex and critical missions faced by federal customers, leveraging digital transformation, artificial intelligence, advanced analytics, cloud-based applications, telehealth systems, and more. With over 2,800 employees dedicated to the idea that "Your Mission is Our Passion,” DLH brings a unique combination of government sector experience, proven methodology, and unwavering commitment to innovative solutions to improve the lives of millions. For more information, visit www.DLHcorp.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or DLH`s future financial performance. Any statements that refer to expectations, projections or other characterizations of future events or circumstances or that are not statements of historical fact (including without limitation statements to the effect that the Company or its management "believes”, "expects”, "anticipates”, "plans”, "intends” and similar expressions) should be considered forward looking statements that involve risks and uncertainties which could cause actual events or DLH's actual results to differ materially from those indicated by the forward-looking statements. Forward-looking statements in this release include, among others, statements regarding estimates of future revenues, operating income, earnings and cash flow. These statements reflect our belief and assumptions as to future events that may not prove to be accurate. Our actual results may differ materially from such forward-looking statements made in this release due to a variety of factors, including: the risk that we will not realize the anticipated benefits of acquisitions (including anticipated future financial performance and results); the diversion of management's attention from normal daily operations of the business and the challenges of managing larger and more widespread operations; the inability to retain employees and customers; contract awards in connection with re-competes for present business and/or competition for new business; our ability to manage our debt obligations; compliance with bank financial and other covenants; changes in client budgetary priorities; government contract procurement (such as bid and award protests, small business set asides, loss of work due to organizational conflicts of interest, etc.) and termination risks; the impact of inflation and higher interest rates; and other risks described in our SEC filings. For a discussion of such risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors” in the Company's periodic reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended September 30, 2024 as well as subsequent reports filed thereafter. The forward-looking statements contained herein are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our industry and business. Such forward-looking statements are made as of the date hereof and may become outdated over time. The Company does not assume any responsibility for updating forward-looking statements, except as may be required by law. CONTACTS: CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Amounts in thousands except per share amounts) CONSOLIDATED BALANCE SHEETS (Unaudited) (Amounts in thousands except par value of shares) 2024 2023