How PDA football's 'golden' season came to fruition with another state title
Elevai Labs Inc. Announces Withdrawal of Offer to Exchange and Plans to Reassess
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BARCELONA, Spain (AP) — Celta Vigo gave 10-man Barcelona a shock by scoring two late goals and snatching a 2-2 draw at home in the Spanish league on Saturday. Barcelona was minutes away from a win to pad its league lead after Raphinha and Lewandowski had put Barcelona in control. But the game dramatically swung after Barcelona defensive midfielder Marc Casadó was sent off with a second booking in the 81st. Moments later Jules Koundé’s poor control of a ball in his area allowed Alfon González to pick his pocket and give the hosts hope in the 84th minute. Celta poured forward at Balaidos Stadium and Hugo Álvarez rifled in the 86th-minute equalizer with Barcelona unable to mark the extra man. AP soccer: https://apnews.com/hub/soccerNoneHighlights (1) Please refer to the section entitled "Non-IFRS Financial Measures" in this press release for a definition of these measures. MONTREAL, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Transcontinental Inc. (TSX: TCL.A TCL.B) announces its results for the fourth quarter and fiscal year 2024, which ended October 27, 2024. "Once again, we posted solid quarterly results and therefore ended the fiscal year on a strong note," said Thomas Morin, President and Chief Executive Officer of TC Transcontinental. "I am very pleased with the excellent results for fiscal 2024 and would like to thank our teams for their disciplined work in reducing costs and improving profitability. "In our Packaging Sector, despite the ongoing pressure on our medical market activities, we reported a 6.5% increase in adjusted operating earnings before depreciation and amortization for the quarter, mainly as a result of our cost reduction initiatives. For the fiscal year 2024, our adjusted operating earnings before depreciation and amortization amounted to $262.2 million, up 14.2% compared to the prior year. "In our Retail Services and Printing Sector, we recorded an increase in adjusted operating earnings before depreciation and amortization for a second consecutive quarter. The actions taken to improve our cost structure, a more favourable product mix, including the roll-out of raddar TM, as well as growth in our in-store marketing activities, continue to show results. For fiscal 2024, our adjusted operating earnings before depreciation and amortization stood at $201.0 million, an increase of 2.1% compared to the prior year. "Mainly as a result of the implementation of the program aimed at improving our profitability and our financial position, we posted a solid performance for fiscal 2024," added Donald LeCavalier, Executive Vice President and Chief Financial Officer of TC Transcontinental. "In addition, we generated significant cash flows in fiscal 2024 which, combined with the monetization of some real estate assets, enabled us to improve our balance sheet by reducing our net indebtedness ratio to 1.71 times the adjusted operating earnings before depreciation and amortization while allocating $32.3 million to our share repurchase program." Financial Highlights Results for the Fourth Quarter of Fiscal 2024 Revenues decreased by $30.4 million, or 3.9%, from $779.7 million in the fourth quarter of 2023 to $749.3 million in the corresponding period of 2024. This decrease is mainly due to lower volume in the Retail Services and Printing Sector and the Packaging Sector, partially mitigated by the favourable effect of exchange rate fluctuations. Operating earnings before depreciation and amortization increased by $8.6 million, or 7.0%, from $123.2 million in the fourth quarter of 2023 to $131.8 million in the fourth quarter of 2024. This increase is mainly attributable to our cost reduction initiatives and the decrease in asset impairment charges, partially offset by lower volume and the rise in restructuring and other costs. Despite an increase in adjusted operating earnings before depreciation and amortization in the two main operating sectors, consolidated adjusted operating earnings before depreciation and amortization decreased by $3.3 million, or 2.3%, from $145.5 million in the fourth quarter of 2023 to $142.2 million in the fourth quarter of 2024. This decrease is mainly due to the unfavourable effect of the change in the incentive compensation expense, including the stock-based compensation expense. Net earnings attributable to shareholders of the Corporation increased by $6.2 million, or 14.9%, from $41.7 million in the fourth quarter of 2023 to $47.9 million in the fourth quarter of 2024. This increase is mainly attributable to the previously explained increase in operating earnings before depreciation and amortization, the decrease in depreciation and amortization, and lower financial expenses, partially offset by higher income taxes. On a per share basis, net earnings attributable to shareholders of the Corporation went from $0.48 to $0.57, respectively. Adjusted net earnings attributable to shareholders of the Corporation decreased by $4.5 million, or 6.3%, from $71.8 million in the fourth quarter of 2023 to $67.3 million in the fourth quarter of 2024. This decrease is mainly due to the previously explained decrease in adjusted operating earnings before depreciation and amortization and higher income taxes, partially mitigated by the decrease in depreciation and amortization, and lower financial expenses. On a per share basis, adjusted net earnings attributable to shareholders of the Corporation went from $0.83 to $0.79, respectively. Results for Fiscal Year 2024 Revenues decreased by $127.7 million, or 4.3%, from $2,940.6 million in fiscal year 2023 to $2,812.9 million in the corresponding period of 2024. This decrease is mainly due to lower volume in the Retail Services and Printing Sector as well as in the Packaging Sector. Operating earnings before depreciation and amortization increased by $25.1 million, or 6.3%, from $399.6 million in fiscal year 2023 to $424.7 million in the corresponding period of 2024. This increase is mainly attributable to our cost reduction initiatives and the decrease in asset impairment charges, partially offset by lower volume and the rise in restructuring and other costs. Adjusted operating earnings before depreciation and amortization increased by $22.9 million, or 5.1%, from $446.5 million in fiscal year 2023 to $469.4 million in the corresponding period of 2024. This increase is mainly attributable to our cost reduction initiatives, partially offset by lower volume. Net earnings attributable to shareholders of the Corporation increased by $35.5 million, or 41.4%, from $85.8 million in fiscal year 2023 to $121.3 million in the corresponding period of 2024. This increase is mainly attributable to the previously explained increase in operating earnings before depreciation and amortization, the decrease in depreciation and amortization, and lower financial expenses, partially offset by higher income taxes. On a per share basis, net earnings attributable to shareholders of the Corporation went from $0.99 to $1.41, respectively. Adjusted net earnings attributable to shareholders of the Corporation increased by $25.4 million, or 14.4%, from $176.0 million in fiscal year 2023 to $201.4 million in the corresponding period of 2024. This increase is mainly attributable to the previously explained increase in adjusted operating earnings before depreciation and amortization, the decrease in depreciation and amortization, and lower financial expenses, partially offset by higher income taxes. On a per share basis, adjusted net earnings attributable to shareholders of the Corporation went from $2.03 to $2.34, respectively. For more detailed financial information, please see the Management’s Discussion and Analysis for the year ended October 27, 2024, as well as the financial statements in the “Investors” section of our website at www.tc.tc . Outlook In the Packaging Sector, our investments, including those related to sustainable packaging solutions, position us well for the future and should be a key driver of our long-term growth. In terms of profitability, we expect to generate organic growth in adjusted operating earnings before depreciation and amortization for fiscal 2025 compared to fiscal 2024. In the Retail Services and Printing Sector, we are encouraged by the roll-out of raddar TM and growth opportunities in our in-store marketing activities. Despite a decrease in revenues resulting from lower volume in our traditional activities and the roll-out of raddar TM, we expect adjusted operating earnings before depreciation and amortization for fiscal 2025 to be stable compared to fiscal 2024, excluding the impact of the labour conflict at Canada Post. Lastly, in addition to the amount received for the sale of our industrial packaging operations, we expect to continue generating significant cash flows from operating activities, which will enable us to reduce our net indebtedness while continuing to make strategic investments and return capital to our shareholders. Labour Conflict at Canada Post On November 15, 2024, the Canadian Union of Postal Workers initiated a national strike. As of December 11, 2024, this labour conflict at Canada Post, which remain unresolved, is disrupting the distribution services of flyers, including the raddar TM leaflet. As a result, the Corporation is incurring revenue losses in regions where raddar TM is not distributed through alternative networks, as well as additional costs, including the printing costs of undistributed flyers and the establishment of alternative distribution networks in certain regions of Quebec. As of December 11, 2024, the revenue losses, and consequently the profit losses, along with the additional costs, are estimated at approximately $7.0 million. Non-IFRS Financial Measures In this document, unless otherwise indicated, all financial data are prepared in accordance with International Financial Reporting Accounting Standards ("IFRS") and the term "dollar", as well as the symbol "$" designate Canadian dollars. In addition, in this press release, we also use certain non-IFRS financial measures for which a complete definition is presented below and for which a reconciliation to financial information in accordance with IFRS is presented in the section entitled "Reconciliation of Non-IFRS Financial Measures" and in Note 3, "Segmented Information", to the audited annual consolidated financial statements for the fiscal year ended October 27, 2024. Reconciliation of Non-IFRS Financial Measures The financial information has been prepared in accordance with IFRS. However, financial measures used, namely adjusted operating earnings before depreciation and amortization, adjusted operating earnings, adjusted income taxes, adjusted net earnings attributable to shareholders of the Corporation, adjusted net earnings attributable to shareholders of the Corporation per share, net indebtedness and net indebtedness ratio, for which a reconciliation is presented in the following table, do not have any standardized meaning under IFRS and could be calculated differently by other companies. We believe that many of our readers analyze the financial performance of the Corporation’s activities based on these non-IFRS financial measures as such measures may allow for easier comparisons between periods. These measures should be considered as a complement to financial performance measures in accordance with IFRS. They do not substitute and are not superior to them. The Corporation also believes that these measures are useful indicators of the performance of its operations and its ability to meet its financial obligations. Furthermore, management also uses some of these non-IFRS financial measures to assess the performance of its activities and managers. Dividend The Corporation's Board of Directors declared a quarterly dividend of $0.225 per share on Class A Subordinate Voting Shares and Class B Shares. This dividend is payable on January 20, 2025, to shareholders of record at the close of business on January 6, 2025. Normal Course Issuer Bid On June 12, 2024, the Corporation has been authorized to repurchase, for cancellation on the open market, or subject to the approval of any securities authority by private agreements, between June 17, 2024 and June 16, 2025, or at an earlier date if the Corporation concludes or cancels the offer, up to 3,662,967 of its Class A Subordinate Voting Shares and up to 668,241 of its Class B Shares. The repurchases are made in the normal course of business at market prices through the Toronto Stock Exchange. During the fourth quarter of 2024, the Corporation repurchased and cancelled 900,459 Class A Subordinate Voting Shares at a weighted average price of $16.20 and 2,000 Class B Shares at a weighted average price of $16.39, for a total cash consideration of $14.6 million. During fiscal 2024, the Corporation repurchased and cancelled 2,060,217 Class A Subordinate Voting Shares at a weighted average price of $15.65 and 7,000 Class B Shares at a weighted average price of $15.66, for a total cash consideration of $32.3 million. On October 16, 2024, the Corporation authorized its broker to repurchase shares between October 28, 2024, and December 13, 2024, inclusively, in accordance with parameters set by the Corporation. Subsequent to the year ended October 27, 2024, the Corporation repurchased 413,278 Class A Subordinated Voting Shares and 2,400 Class B Shares for a total cash consideration of $7.0 million. Additional information Conference Call Upon releasing its results for the fourth quarter and fiscal 2024, the Corporation will hold a conference call for the financial community on December 12, 2024, at 8:00 a.m. The dial-in numbers are 1-289-514-5100 or 1-800-717-1738. Media may hear the call in listen-only mode or tune in to the simultaneous audio broadcast on TC Transcontinental’s website, which will then be archived for 30 days. For media requests or interviews, please contact Nathalie St-Jean, Senior Advisor, Corporate Communications of TC Transcontinental, at 514-954-3581. Profile TC Transcontinental is a leader in flexible packaging in North America and in retail services in Canada, and is Canada’s largest printer. The Corporation is also the leading Canadian French-language educational publishing group. Since 1976, TC Transcontinental's mission has been to create quality products and services that allow businesses to attract, reach and retain their target customers. Respect, teamwork, performance and innovation are the strong values held by the Corporation and its employees. TC Transcontinental's commitment to its stakeholders is to pursue its business activities in a responsible manner. Transcontinental Inc. (TSX: TCL.A TCL.B), known as TC Transcontinental, has approximately 7,500 employees, the majority of which are based in Canada, the United States and Latin America. TC Transcontinental generated revenues of $2.8 billion during the fiscal year ended October 27, 2024. For more information, visit TC Transcontinental's website at www.tc.tc . Forward-looking Statements Our public communications often contain oral or written forward-looking statements which are based on the expectations of management and inherently subject to a certain number of risks and uncertainties, known and unknown. By their very nature, forward-looking statements are derived from both general and specific assumptions. The Corporation cautions against undue reliance on such statements since actual results or events may differ materially from the expectations expressed or implied in them. Forward-looking statements may include observations concerning the Corporation's objectives, strategy, anticipated financial results and business outlook. The Corporation's future performance may also be affected by a number of factors, many of which are beyond the Corporation's will or control. These factors include, but are not limited to the impact of digital product development and adoption, the impact of changes in the participants in the distribution of newspapers and printed advertising materials and the disruption in their activities resulting mainly from labour disputes, including at Canada Post, the impact of regulations or legislation regarding door-to-door distribution on the printing of paper flyers or printed advertising materials, inflation and recession risks, economic conditions and geopolitical uncertainty, environmental risks as well as adoption of new regulations or amendments and changes to consumption habits, risk of an operational disruption that could be harmful to its ability to meet deadlines, the worldwide outbreak of a disease, a virus or any other contagious disease could have an adverse impact on the Corporation’s operations, the ability to generate organic long-term growth and face competition, a significant increase in the cost of raw materials, the availability of those materials and energy consumption could have an adverse impact on the Corporation’s activities, the ability to complete acquisitions and properly integrate them, cybersecurity, data protection, warehousing and usage, the impact of digital product development and adoption on the demand for printed products other than flyers, the failure of patents, trademarks and confidentiality agreements to protect intellectual property, a difficulty to attract and retain employees in the main operating sectors, the safety and quality of packaging products used in the food industry, bad debts from certain customers, import and export controls, duties, tariffs or taxes, exchange rate fluctuations, increase in market interest rates with respect to our financial instruments as well as availability of capital at a reasonable cost, the legal risks related to its activities and the compliance of its activities with applicable regulations, the impact of major market fluctuations on the solvency of defined benefit pension plans, changes in tax legislation and disputes with tax authorities or amendments to statutory tax rates in force, the impact of impairment tests on the value of assets and a conflict of interest between the controlling shareholder and other shareholders. The main risks, uncertainties and factors that could influence actual results are described in the Management's Discussion and Analysis for the fiscal year ended October 27, 2024 and in the latest Annual Information Form . Unless otherwise indicated by the Corporation, forward-looking statements do not take into account the potential impact of non-recurring or other unusual items, nor of disposals, business combinations, mergers or acquisitions which may be announced or entered into after the date of December 11, 2024. The forward-looking statements in this press release are made pursuant to the “safe harbour” provisions of applicable Canadian securities legislation. The forward-looking statements in this release are based on current expectations and information available as at December 11, 2024. Such forward-looking information may also be found in other documents filed with Canadian securities regulators or in other communications. The Corporation's management disclaims any intention or obligation to update or revise these statements unless otherwise required by the securities authorities. For information:
Sen. Markwayne Mullin, R-Okla., reacts to President-elect Donald Trump's FBI director pick on 'Your World.' FIRST ON FOX: House Judiciary Committee Chairman Jim Jordan, R-Ohio, signaled he is not finished with his oversight of FBI Director Christopher Wray’s handling of the bureau, even after the intelligence official announced he was stepping down. Jordan said Wray’s resignation was "great" news and lambasted his handling of the FBI in comments to Fox News Digital on Wednesday. "I mean, Chris Wray was, you know, investigating moms and dads who show up for school board meetings. He was putting out a memorandum on saying, ‘If you're a pro-life Catholic, you're an extremist.’ The FBI retaliated against whistleblowers who came and gave us that kind of information. We learned yesterday that they were spying on congressional staffers and their metadata. And of course, he raided President Trump's home ," Jordan said. GRASSLEY RIPS WRAY'S ‘FAILED’ LEADERSHIP AT FBI WITH 11 PAGES OF EXAMPLES IN BLISTERING ‘NO CONFIDENCE’ LETTER House Judiciary Chairman Jim Jordan signaled he is not done with his oversight of FBI Director Christopher Wray (Getty Images) Wray previously denied targeting pro-life activists. He also defended the FBI’s handling of a Department of Justice (DOJ) memo raising alarms about conduct at school board meetings, though he said last year that there was "no compelling nationwide law enforcement justification" for the directive to be issued. Jordan has made no secret of his thoughts on Wray’s leadership, overseeing multiple inquiries by the House Judiciary Committee into his leadership. When asked by Fox News Digital if that oversight will continue, Jordan said, "Oh, yeah." "And there's, we think, reports coming that are going to, you know, shed even more light on what's been going on down line from the from the inspector general," Jordan said. WHO IS KASH PATEL? TRUMP'S PICK TO LEAD FBI HAS LONG HISTORY VOWING TO BUST UP 'DEEP STATE' Trump tapped Kash Patel to succeed Wray (Photo by Rebecca Noble/Getty Images) He also praised President-elect Trump’s new nominee to lead the FBI, Kash Patel. Fox News first reported Wray’s intent to resign seven years into his 10-year term earlier on Wednesday. Meanwhile, Trump’s pick to replace him had already been meeting with senators for days ahead of an anticipated confirmation hearing. DONALD TRUMP ON FBI DIRECTOR CHRISTOPHER WRAY: ‘HE INVADED MY HOME’ Jordan said Wray's resignation was "great" news (Photo by Win McNamee/Getty Images) "After weeks of careful thought, I’ve decided the right thing for the Bureau is for me to serve until the end of the current Administration in January and then step down. My goal is to keep the focus on our mission — the indispensable work you’re doing on behalf of the American people every day," Wray told FBI colleagues. "In my view, this is the best way to avoid dragging the Bureau deeper into the fray, while reinforcing the values and principles that are so important to how we do our work." CLICK HERE TO GET THE FOX NEWS APP Jordan told Fox News Digital he was not surprised at Wray’s decision. "I mean when the president nominates someone to replace you, you’ve got to go, man," Jordan said. Elizabeth Elkind is a politics reporter for Fox News Digital leading coverage of the House of Representatives. Previous digital bylines seen at Daily Mail and CBS News. Follow on Twitter at @liz_elkind and send tips to elizabeth.elkind@fox.comAnkaful Nurses Training College Marks 21st Matriculation, 12th Graduation CeremonyIt’s been heartening to see Democratic introspection following our 2024 election losses. Some Democrats are clinging to the idea that Americans are too mean, selfish or racist to vote for a left-of-center party, but others are realizing our party itself is the problem. If 2024 is a wake-up call, 2025 can be a year of Democratic renewal. We can appreciate the passion of the left but decide the center is better suited to set our agenda. Thoughtful members of the left may realize the country isn’t with them. They may see that a center-left Democratic Party that shares some of their views and wins elections is a better option than ceding ground to a Republican Party with whom they have much less in common. I’m excited for a more centrist Democratic Party and think it’s useful to have a vision the party can adopt or debate. I define centrist Democrats in two ways: first by a mindset, then by a commitment to achievable policies. First, the mindset. Centrist Democrats understand our party doesn’t have all the answers. We recognize that collaborating with conservative partners is a path to better and more sustainable policies. We celebrate our diverse society, including those Americans whose political beliefs don’t comport with our own. We’re willing to settle for incremental progress when the alternative is no progress at all. We don’t automatically oppose Republican policies but accept, modify or reject them based on our analysis of their merits. We don’t impose our views on others but set a constructive example, achieve results, honor our nation and communicate calmly, honestly and well. We do these things because they’re right, and to earn the support of Americans. Our positions respect the aspirational but pursue the achievable. Centrist Democrats are pro-choice, unequivocally in the case of rape and the health of the mother, but accept limitations at the point of fetal viability. We support policies that make it easier for women exercising their reproductive rights to make the choice to continue a pregnancy. On guns, we support universal background checks and red flag laws that remove weapons from people deemed dangerous after careful adherence to due process. We can imagine a country without assault-style weapons but focus on government policies that incentivize the purchase of gun safes and trigger locks, and we seek a partnership with the National Rifle Association to inculcate a culture of responsible gun ownership and training. We believe these reasonable positions on guns do more to save lives than an endless battle about gun prohibitions and confiscation. Centrist Democrats are pro-immigrant and pro-immigration but believe controlling the southern border is necessary. Uncontrolled crossings make a mockery of the government’s authority and validate a culture of lawlessness, where everyone seems able to choose which laws should be followed. Centrist Democrats have compassion for migrants and make efforts to improve conditions in their home countries, but we honor our laws by enforcing them. We believe the free market is a powerful tool to generate wealth and increase living standards. But we don’t believe an unregulated market is best for the American people. We seek a balance that prevents excess but preserves the incentives required to spur investment and innovation. We remember that spending on national defense and social programs is impossible without the revenue generated by the private sector. Centrist Democrats are hesitant to alter the structures of government. Expanding the Supreme Court or eliminating the Senate filibuster might advance our positions in the short term, but we know any gains would be tenuous and reversible when Republicans achieve a majority or decide to expand the Supreme Court and pack it with their own friendly justices. Centrist Democrats support national service and civics education in schools. We believe Americans should be educated in their responsibilities as well as their rights. For Americans to see the beauty of our system they need to understand its tenets. Centrist Democrats know we can teach our children about the faults of our nation without undermining their love of country. And we believe national service can help stitch together a divided nation. While I hope for the revival of a more traditional Republican Party, it’s right in the meantime for Democrats to oppose Republican extremes. In our constitutional system, that’s the job of the minority party. As the Republicans prepare to exercise their electoral mandate, Democrats would do well to focus on the renovation of our party. We can earn our own electoral mandate if we get it right.
The AP Top 25 men’s college basketball poll is back every week throughout the season! Get the poll delivered straight to your inbox with AP Top 25 Poll Alerts. Sign up here . HUNTSVILLE, Ala. (AP) — Drayton Jones had 23 points in South Carolina State’s 72-62 victory over IU Indianapolis on Saturday. Jones also contributed seven rebounds for the Bulldogs (4-3). Colin McKenzie finished 3 of 4 from 3-point range to add 11 points. Michael Teal shot 3 of 4 from the field and 3 for 6 from the line to finish with 10 points. The Jaguars (2-5) were led in scoring by Jarvis Walker, who finished with 21 points, four assists and two steals. Alec Millender added 13 points and two steals for IU Indianapolis. Paul Zilinskas also had 10 points. ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .Penn State vs. Oregon prediction, odds, best bets for Big 10 Championship