West Virginia knocks off No. 3 Gonzaga in overtimeCompany Achieved 50% YoY Revenue Growth & Positive EBITDA CALGARY, AB , Nov. 21, 2024 /PRNewswire/ - Nanalysis Scientific Corp. ("the Company") NSCI NSCIF 1N , a leader in portable NMR machines and MRI technology for industrial and research applications announces third quarter results for the period ending on September 30, 2024 , achieving 50% year-over-year revenue growth to $10.6 million in Q3. Chief Executive Officer Sean Krakiwsky and Chief Financial Officer Randall McRae will host a conference call at 5 P.M. Eastern Time today to discuss the results. A second call will be held for European investors at 8:30am Eastern Time tomorrow, November 22 nd . All interested parties are invited to join these calls. All dollar figures in this press release are in thousands of Canadian dollars, except per share amounts or unless otherwise stated. "We continue to see strength in both of our core business segments, product sales and security services," said Sean Krakiwsky, Founder and CEO of Nanalysis. "We had a solid Q3, as demonstrated by our year over year revenue growth. Within Benchtop NMR we experienced our typical seasonal slowdown in the third quarter. This was partially offset, however, by a large medical imaging sale in the quarter. Our focus on efficiencies in both our manufacturing processes and service delivery is resulting in gross margin improvements and positive EBITDA." Financial highlights for the three months ended September 30, 2024: Three months ended September 30 ($000's) 2024 2023 ($) Change Change Product sales 4,242 3,941 301 8 % Service revenue 5,420 2,629 2,791 106 % Flow-through inventory 908 466 442 95 % Total sales and revenue 10,570 7,036 3,534 50 % Gross margin percentage - product sales 52 % 41 % 11 % Gross margin percentage - service revenue 15 % -3 % 18 % Adjusted EBITDA 264 (1,354) 1,618 Net loss (1,644) (6,287) 4,643 74 % For the three months ended September 30, 2024, the Company reported consolidated revenue of $10,570, an increase of $3,534 or 50% from the comparative period in 2023. Gross margin percentage on product sales was 52% versus 41% for the three months ended September 30, 2024. Improvement in gross margin percentage for Benchtop NMR is materializing, as average selling prices have improved and manufacturing cost reductions started in 2023 and continued in 2024 are taking effect. Security service gross margin percentage in the quarter was 15% versus (3)% in prior year comparative period as the Company completed the full transition of 100% of airports serviced to its control from the incumbent provider in the first quarter of 2024 and expects to increase revenue and drive efficiency within this business through 2024. Adjusted EBITDA for the three months ended September 30, 2024, was $264K versus an Adjusted EBITDA (loss) of ( $1,354K ) in the same period last year. This improvement was driven primarily by full transition of airports to the Company's control resulting in increased security services revenue, the effect of cost reduction initiatives, and slightly improved product sales over the prior year. This was offset partially by a slight decrease in third-party equipment sales. Net loss for the three months ended was $1,644K as compared to the three-month loss for September 30, 2023, of $6,287K. The difference between Adjusted EBITDA and Net loss includes a number of non-cash charges such as depreciation and amortization. Included in Net loss for the three months ended September 30, 2023 , the Company recognized a one-time charge of $2.8 million related to the deconsolidation of its Quad subsidiary. Quarterly Trend: 2024 2023 ($000's) Q3 Q2 Q1 Q4 Product sales 4,242 5,402 4,216 5,450 Security service revenue 5,420 5,265 4,723 3,362 Flow-through parts revenue 908 807 2,223 988 Total revenue 10,570 11,474 11,162 9,800 Adjusted EBITDA 264 414 (362) (774) Net loss for the period (1,644) (1,995) (2,522) (2,123) The Company has demonstrated continuous margin expansion in Security service revenue quarter over quarter, driven by the expansion of the Company's airport security maintenance business as the Company took over more airports from the incumbent service provider, ultimately taking over all airports in Q1 2024. The Company reported positive Adjusted EBITDA in the third quarter of 2024 despite the seasonality effects of the slower summer months. The Company expects this to continue as it works to grow both product sales and security service revenue, while closely managing costs. Net loss was $1,644 in Q3 2024. Net losses are decreasing as the Company has successfully grown revenue and implements cost reduction initiatives. Recent strategic and operational highlights during and after the third quarter of 2024 include: Margin Expansion in both business segments: The Company was able to reap the benefits of cost cutting and drive efficiencies to grow gross margins to 52%, up 11% year over year in product sales and 15%, up 18% year over year in security services from (3%) in the prior year. Consistent Revenue in Airport Security Maintenance Business: The mix between scheduled maintenance, unscheduled maintenance and project work will shift quarterly but should provide a consistent balance of billing. The Company is focused on improving its efficiency and planning related to service delivery in order to increase margins through 2024 and into 2025. Medical Imaging : The Company completed another large medical imaging hardware sale in the quarter contributing to strong product sales in a traditionally slower quarter. Outlook "As we enter the fourth quarter, we have continued strong sales and the hard work we have done to expand our margins is materializing," said Sean Krakiwsky, Founder and CEO of Nanalysis. "Growth initiatives within the Scientific Equipment segment include the development and future launch of new products, developing new software applications, and seeking vertical market partnerships. Our market opportunity is expanding as more industries conclude that NMR, combined with the small size and portability of our products, is an excellent solution for their analysis needs. As we evolve, it is likely that we will reduce effort selling other companies' products, and increasingly focus on sales of our own proprietary products and services. "Within the Security Services segment, we are pursuing several new customer opportunities to leverage our existing capabilities. "Overall, we continue to grow our sales and are laser focused on operational improvements to reach our ultimate goal of profitability. These trends will continue through the rest of the year and into 2025. We have a positive outlook, are executing well, and expect a strong fourth quarter to close out the year." Conference Call: Investors interested in participating in the live full year call can dial 1-800-510-2154 or 437-900-0527-1350 from abroad. Investors can also access the call online through a listen-only webcast here: https://app.webinar.net/qArLoq1oXkG or on the investor relations section of the Company's website HERE . The webcast will be archived on the Company's investor relations webpage for at least 90 days and a telephonic playback will be available for seven days after the conference call by calling 1-888-660-6345 or 289-819-1450, conference ID # 14204. Additionally, the Company will be hosting a Q&A session for its European investors at 8:30am ET tomorrow, Friday , November 22nd, which can be accessed by the following link: Join the meeting now Non-IFRS and Supplementary Financial Measures The Company prepares and reports its consolidated financial statements in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, as adopted by the Canadian Accounting Standards Board (" IFRS "). However, this press release may make reference to certain non-IFRS measures including key performance indicators used by management. These measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company's results of operations from management's perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS. The Company uses Flow-through parts revenue, Security service revenue, and Adjusted Earnings Before Interest, Tax, Depreciation and Amortization ("Adjusted EBITDA") as non-IFRS measures, which may be calculated differently by other companies. These non-IFRS measure are used to provide investors with a supplemental measure of the Company's operating performance and liquidity and thus highlight trends in the Company's business that may not otherwise be apparent when relying solely on IFRS measures. The Company also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of companies in similar industries. Three months ended September 30 ($000's) 2024 2023 ($) Change Security services revenue 5,420 2,629 2,791 Flow-through inventory revenue 908 466 442 Total Service Revenue 6,328 3,095 3,233 Security services costs 4,627 2,708 1,919 Flow-through inventory costs 908 466 442 Total Cost of Services 5,535 3,174 2,361 Three months ended September 30 ($000's) 2024 2023 ($) Change Net loss (1,644) (6,287) 4,643 Business acquisition costs and contingent consideration loss 5 184 (179) Depreciation and amortization expense 1,098 1,073 25 Finance expense 341 289 52 Stock-based compensation 181 281 (100) Foreign exchange (gain) loss (141) 79 (220) Loss on loss of control of subsidiary - 2,810 (2,810) Loss from associate 305 256 49 Impairment of associate receivable 74 - 74 Restructuring costs 42 82 (40) Current income tax (recovery) expense (22) 13 (35) Deferred income tax expense (recovery) 25 (134) 159 Adjusted EBITDA 264 (1,354) 1,618 Supplementary Financial Measures The Company may also use supplementary financial measures which are intended to be disclosed on a periodic basis to depict the historical or expected future financial performance, cash position, or cash flow of the Company, are not a non-IFRS measure, and are not presented in the financial statements. The measures as discussed in this press release include: Gross margin percentage, which is defined as either (Product sales less Cost of product sold) divided by Product sales or (Security services revenue less Security services costs) divided by Security services revenue About Nanalysis Scientific Corp. NSCI NSCIF FRA:1N1)) Nanalysis Scientific Corp. in operates two primary business segments: Scientific Equipment and Security Services. Within its Scientific Equipment business is what the Company terms "MRI and NMR for industry". The Company develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60TM was the first full-feature portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens. The Company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. In 2020, the Company announced the launch of its 100MHz device, the most powerful and most advanced commercial compact NMR device ever brought to market. The Company's devices are used in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, law enforcement, and more) as well as numerous government and university research labs around the world. The Company is working to expand into new global market opportunities independently and with partners. With its partners, the Company provides scientific equipment sales and maintenance services globally. In 2022 the Company was awarded a five-year, $160 million contract to provide maintenance services for passenger screening equipment in Canadian airports. This has resulted in expansion of the Company's Security Services business. The Company is providing airport security equipment maintenance services in each province and territory of Canada. In addition, the Company provides commercial security equipment installation and maintenance services to a variety of customers in North America. Notice regarding Forward Looking Statements and Legal Disclaimer This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. View original content to download multimedia: https://www.prnewswire.com/news-releases/nanalysis-announces-third-quarter-2024-results-302313518.html SOURCE Nanalysis Scientific Corp. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The Falcons are sticking with Kirk Cousins and may get a break thanks to a soft scheduleWhy Buying a New Car Can Be a Smart Investment for the Long-TermThree American citizens imprisoned for years by China have been released, the White House has announced, in a rare diplomatic agreement with Beijing in the final months of the Biden administration. Login or signup to continue reading The three are Mark Swidan, Kai Li and John Leung, all of whom had been designated by the US government as wrongfully detained by China. Swidan had been facing a death sentence on drug charges while Li and Leung were imprisoned on espionage charges. "Soon they will return and be reunited with their families for the first time in many years," the White House said in a statement. The release comes two months after China freed David Lin, a Christian pastor from California who had spent nearly 20 years behind bars after being convicted of contract fraud. US-China relations have been roiled for years over major disagreements on trade, human rights, the production of fentanyl precursors, security issues that include espionage and hacking, China's aggressiveness toward Taiwan and its smaller neighbours in the South China Sea, and Beijing's support for Russia's military-industrial sector. The release of Americans deemed wrongfully detained in China has been a top agenda item in each conversation between the US and China. The development suggests a willingness by Beijing to engage with the outgoing Democratic administration before Republican President-elect Donald Trump's return to the White House in January. Trump took significant actions against China on trade and diplomacy during his first term. He has pledged to continue those policies in his second term, leading to unease among many who fear that an all-out trade war will greatly affect the international economy and could spur potential Chinese military action against Taiwan. The State Department on Wednesday lowered its travel warning to China to "level two," advising US citizens to "exercise increased caution" from the norm when travelling to the mainland. The alert had previously been at "level three," telling Americans they should "reconsider travel" to China in part because of the "risk of wrongful detention" of Americans. The new alert retains a warning that the Chinese government "arbitrarily enforces local laws, including exit bans on US citizens and citizens of other countries, without fair and transparent process under the law." The White House has not confirmed whether any Chinese citizens in American custody had been returned home in a prisoner swap. Senators from both political parties praised the move. Republican Senator Ted Cruz of Texas, where Swidan's mother lives, said he was "overjoyed" and credited senior Biden administration officials for having "worked tirelessly to secure this achievement." Li, a Chinese immigrant who started an export business in the US and lived in New York, was detained in September 2016 after flying into Shanghai. He was placed under surveillance, interrogated without a lawyer and accused of providing state secrets to the FBI. A UN working group called his 10-year prison sentence arbitrary and his family has said the charges were politically motivated. Leung was sentenced last year to life in prison on spying charges. He was detained in 2021, by the local bureau of China's counterintelligence agency in the southeastern city of Suzhou after China had closed its borders and imposed tight domestic travel restrictions and social controls to fight the spread of COVID-19. Swidan had been jailed for the last 12 years on a drug charge and, along with Li and Leung, was considered by the State Department to be wrongfully detained. Australian Associated Press DAILY Today's top stories curated by our news team. Also includes evening update. 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Today marks the 61st anniversary of President Kennedy’s assassination. In the last year of his presidency, Kennedy took extraordinary steps in the direction of world peace. He tried to educate the public by outlining his understanding of the world peace process in a commencement address that he delivered at American University on June 10, 1963. This is a speech unlike any we have ever heard from a president of the United States. Too few of us are aware of this speech. The speech was given at a high point in the Cold War between the United States and the Soviet Union. At the time the speech so impressed Soviet Premier Nikita Khrushchev that he had the speech reprinted in newspapers throughout the Soviet Union. Unfortunately nothing like that happened here. Following the speech the United States and the Soviet Union rapidly came to an agreement banning the testing of nuclear weapons in the atmosphere. What did Kennedy understand, and what did he say? He said that world peace is “the most important topic on earth ... What kind of peace do I mean and what kind of peace do we seek? Not a Pax Americana enforced on the world by weapons of war — not the peace of the grave or the security of the slave. I am talking about genuine peace — the kind of peace that makes life on earth worth living — the kind of peace that enables ...[people] and nations to grow and to hope and to build a better life for their children — not merely peace for Americans but peace for all men and women — not merely peace in our time but peace in all time.” In the long run, President Kennedy envisioned an end to war through “... general and complete disarmament — designed to take place by stages, permitting parallel political developments to build the new institutions of peace which would take the place of arms.” This was to be “... based not on a sudden revolution in human nature but on a gradual evolution of human institutions — on a series of concrete actions and effective agreements which are in the interests of all concerned. There is no single, simple key to peace — no grand or magic formula to be adopted by one or two powers. Genuine peace must be the product of many nations, the sum of many acts. It must be dynamic, not static, changing to meet the challenge of each new generation. Peace is a way of solving problems ... World peace, like community peace, does not require that each man love his neighbor — it requires only that they live together in mutual tolerance, submitting their disputes to a just and peaceful settlement.” He emphasized the importance of focusing on what agreements are possible today that could give people hope and provide momentum. He urged us to understand the positive achievements and qualities of our opponents, to take seriously their concerns, and while not being “... blind to our differences ... let us also direct attention to our common interests and the means by which those differences can be solved. And if we cannot end now our differences, at least we can make the world safe for diversity.” He urged that we “conduct our affairs in such a way that it becomes in the communists’ interests to agree to a genuine peace. And above all, while defending our own vital interests, nuclear powers must avert those confrontations which bring an adversary to a choice of either a humiliating retreat or a nuclear war. To adopt that kind of course in the nuclear age would be evidence only of the bankruptcy of our policy — or of a collective death-wish for the world.” “Is not peace, in the final analysis, basically a matter of human rights — the right to live out our lives without fear of devastation — the right to breathe air as nature provided it — the right of future generations to a healthy existence.” Article continues after... Cross|Word Flipart Typeshift SpellTower Really Bad Chess If we, as Americans, want to have leaders who truly work for our security, we must have leaders who truly understand the genuine peace process. This rests first of all on us as ordinary citizens understanding that process and demanding it of our representatives. This Nov. 22, I urge my reader to spare a half-hour and find President Kennedy’s 1963 American University speech on the internet. Listen to it, ponder its wisdom, share it with others, and reflect on what you can do to join in contributing to a true peace process. It can be found here: https://ratical.org/ratville/JFK/HWNAU/JFK061063.html . Dr. E. Martin Schotz is a retired physician who lives in Cummington. He is a member of the Franklin County for Peace and board member of Traprock Center for Peace and Justice.
Alienware's most recent Black Friday deal is a good one. As part of the Alienware Black Friday Sale , Dell (which owns the Alienware brand) is offering an Alienware Aurora R16 RTX 4070 Ti Super gaming PC for only $1,499.99 with free shipping after a $600 instant discount. This is currently the least expensive Black Friday deal on an RTX 4070 Ti gaming PC so far . The RTX 4070 Ti GPU is powerful enough to handle gaming at up to 4K at a solid 60fps, even with the recently released games like Black Myth: Wukong or Warhammer 40,000: Space Marine 2. Alienware Aurora R16 RTX 4070 Ti Super Gaming PC This Alienware Aurora R16 gaming PC features an Intel Core i7-14700F CPU, RTX 4070 Ti Super GPU, 16GB of DDR5-1600MHz RAM, and a 1TB M.2 SSD. The Intel Core i7-14700F Raptor Lake Refresh CPU boasts a max clock of 5.4GHz with 20 cores, 28 threads, and a 33MB cache. If you plan to use this PC as a gaming rig, then an i7 is a better choice in terms of value than an i9. Performance is nearly identical because games cannot utilize the extra cores that the i9 has and at higher resolutions, games are almost always GPU-bound. The GeForce RTX 4070 Ti Super is about 10% more powerful than the RTX 4070 Ti. This is a great card for gaming at any resolution, from 1080p all the way to 4K. At 1080p and 1440p you'll be able to achieve 144fps or beyond in most games, so it's a great complement to FHD or QHD monitors capable of achieving high refresh rates. 4K is a much more demanding resolution, but you should still be able to run most games at a consistent 60fps. The RTX 4070 Ti Super also has more VRAM than the RTX 4070 Ti (16GB vs 12GB), which means it's a great economical option for AI work. A note on Alienware's newest "R16" desktop chassis The R16 is Alienware's current 2024 desktop PC design. It's 40% smaller in volume compared to previous iterations. It features a simple yet proven airflow pattern; air is drawn in through the side intake vents over the GPU area and a 120mm fan at the front of the case, and exhausts by way of a 120mm rear fan and two 120mm top fans. A 240mm radiator for the all-in-one liquid cooling system is mounted to these top fans. Some configurations don't actually include the liquid cooling system, but we rarely include them in this roundup. That's because Alienware's liquid cooling solution is far superior to their stock air cooling and is easily worth the price premium. More Alienware Black Friday Gaming PC Deals Alienware isn't the only brand that's on sale for Black Friday. Check out all of the best gaming PC deals from vendors like Best Buy , Amazon , and Walmart . If you want to stick with an OEM manufacturer, HP has a Black Friday Sale going on. Should You Wait for Black Friday? In most cases, we would say that Black Friday has the best deals of the year . Dell, however, is quite the opposite. Dell likes to push its best Black Friday deals well in advance of Black Friday, sometimes even as early as October. There are very specific "doorbuster" deals that go live on Black Friday, but they aren't necessarily on gaming PCs. If you find a great deal on a configuration that's exactly what you're looking for at a price you're happy with, you should jump on it early. Eric Song is the IGN commerce manager in charge of finding the best gaming and tech deals every day. When Eric isn't hunting for deals for other people at work, he's hunting for deals for himself during his free time.Tottenham star played for 60 minutes with a broken ankle during Man City win