Adjusted income – Im Just Sayin http://imjustsayin.net/ Tue, 24 May 2022 13:08:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://imjustsayin.net/wp-content/uploads/2021/10/icon-5-120x120.png Adjusted income – Im Just Sayin http://imjustsayin.net/ 32 32 Eagle Point Credit Q1 net investment income increases from Q4 (NYSE:ECC) https://imjustsayin.net/eagle-point-credit-q1-net-investment-income-increases-from-q4-nyseecc/ Tue, 24 May 2022 13:08:00 +0000 https://imjustsayin.net/eagle-point-credit-q1-net-investment-income-increases-from-q4-nyseecc/ KanawatTH/iStock via Getty Images Eagle Points Credit (NYSE: ECC) First-quarter adjusted net investment income exceeded its overall regular common distribution for the quarter and reduced its overall funding costs in the quarter, the company said Tuesday. NAV of $12.64 per share as of March 31 versus $13.39 as of December 31, 2021. Net investment income […]]]>

KanawatTH/iStock via Getty Images

Eagle Points Credit (NYSE: ECC) First-quarter adjusted net investment income exceeded its overall regular common distribution for the quarter and reduced its overall funding costs in the quarter, the company said Tuesday.

NAV of $12.64 per share as of March 31 versus $13.39 as of December 31, 2021.

Net investment income and realized capital losses in the first quarter were $0.30 per share, including $0.10 of non-recurring expenses and losses. Excluding one-time items, Q1 net investment income and realized capital losses were $0.40, up from $0.37 in Q4 2021.

Total common stock distributions for the quarter were $14.3 million compared to $57.7 million in the prior year quarter.

The weighted average effective yield of the portfolio of loan obligations guaranteed by Eagle Point Credit (ECC) (excluding called CLOs), on an amortized cost basis, was 16.78% at March 31, 2022, compared to 17.04% at December 31, 2021.

The company deployed $66.3 million of net capital in equity and CLO debt investments and received $41.1 million in recurring cash distributions from its investment portfolio in the first quarter of 2022. This compares $24.7 million deployed and $47.8 million received in recurring cash distributions in the fourth quarter of 2021.

During the quarter, Eagle Point Credit (ECC) completed an offering of ECCV Notes at 5.375% at its lowest cost of capital to date. The proceeds were used to retire the higher-cost ECCB preferred stock, ECCY notes, and half of its ECCX notes, “significantly reducing the company’s overall funding costs on a forward-looking basis,” CEO Thomas said. Majewski.

Conference call at 10:00 a.m. ET.

Earlier, Eagle Point Credit (ECC) releases its first quarter results

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City Budget Sessions – Property Transfer Tax Debuts as 3rd Biggest Revenue Source https://imjustsayin.net/city-budget-sessions-property-transfer-tax-debuts-as-3rd-biggest-revenue-source/ Sun, 22 May 2022 20:17:33 +0000 https://imjustsayin.net/city-budget-sessions-property-transfer-tax-debuts-as-3rd-biggest-revenue-source/ May 20, 2022 With the current year’s budget adjusted upward by more than $14 million, Culver City’s budget meetings this week tallied up a number of good things about revenue. The annual budget meetings for the 2022-2023 fiscal year which were heard by City Council last week on Monday May 16 and Tuesday May 17, […]]]>

May 20, 2022

With the current year’s budget adjusted upward by more than $14 million, Culver City’s budget meetings this week tallied up a number of good things about revenue.

The annual budget meetings for the 2022-2023 fiscal year which were heard by City Council last week on Monday May 16 and Tuesday May 17, 2022, covered a report from Chief Financial Officer Lisa Soghor and separate reports from each department of the city. A “stronger and faster than expected recovery from COVID” was at the center of many positive reports.

The general fund revenue overview reported a total of $144,878,638 in revenue. Sales taxes were the top source of revenue, as they have been in the past, followed by business license taxes, and then RE transfer tax which unexpectedly came in third place.

After being approved by voters in the 2020 ballot, the real estate transfer tax brought in $17 million, about $15 million more than expected. The CFO proposed that the excess be recommended to be paid into the city’s retirement trust fund, “to be used over time to smooth the city’s retirement costs.” Like many small towns, the long-term responsibility of the pension fund is an ongoing challenge in creating the annual budget.

Soghor noted, “The city started the current fiscal year of 2021-2022 with $108.8 million. Based on revenues and expenses, the 2022-2023 fiscal year starts with $130.2 million, due to unexpected revenues and reduced expenses.

The report indicates that the projected closing fund balance will see a decrease of $4.3 million, to $129.5 million. Restricted pension trust funds will be used to pay the annual cost of the retreat of $29. 4 million. The remaining reserves of the fund balance of $81.7 million may, with Board approval, be used to balance the budget. Projected unlimited ending reserves are 55% of operating expenses.

“Expenses should be less than revenues. said Soghor.


Culver City Crossroads is the premier source for news, events, politics, education and culture. they are there to serve the community, to make connections and to have fun.

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The Keg Royalties Income Fund Announces Results of Election of Trustees for Its 2022 Meeting of Unitholders https://imjustsayin.net/the-keg-royalties-income-fund-announces-results-of-election-of-trustees-for-its-2022-meeting-of-unitholders/ Sat, 21 May 2022 01:54:02 +0000 https://imjustsayin.net/the-keg-royalties-income-fund-announces-results-of-election-of-trustees-for-its-2022-meeting-of-unitholders/ Content of the article VANCOUVER, British Columbia, May 20, 2022 (GLOBE NEWSWIRE) — The Keg Royalties Income Fund (the “Fund”) (TSX: KEG.UN) is pleased to announce that all nominees listed in its information circular dated of April 11, 2022 were elected Trustees of the Trust at its annual meeting of unitholders held on May 17, […]]]>

Content of the article

VANCOUVER, British Columbia, May 20, 2022 (GLOBE NEWSWIRE) — The Keg Royalties Income Fund (the “Fund”) (TSX: KEG.UN) is pleased to announce that all nominees listed in its information circular dated of April 11, 2022 were elected Trustees of the Trust at its annual meeting of unitholders held on May 17, 2022 (the “Meeting”). The voting results for each candidate are as follows:

Candidate vote for Votes withheld
No. % No. %
Christopher Charles Woodward 7,658,871 91.20% 738 958 8.80%
Tim Kerr 7,777,577 92.61% 620 252 7.39%

Content of the article

In addition, the Fund notes that the appointment of KPMG LLP as auditors of the Fund for the 2022 fiscal year was passed by a majority of the votes represented at the meeting.

About the Keg Royalties Income Fund

The Fund is an open-ended, limited purpose trust established under the laws of the Province of Ontario which, through The Keg Rights Limited Partnership, a subsidiary of the Fund, owns certain trademarks and other intellectual property related products used by Keg Restaurants Ltd. (“KRL”). In exchange for the use of these trademarks, KRL pays the Fund a royalty of 4% of the gross sales of Keg restaurants included in the royalty pool.

Based in Vancouver, KRL is the leading operator and franchisor of steakhouses in Canada and has a significant presence in select regional markets in the United States. KRL continues to operate The Keg restaurant system and expand this system through the addition of corporate and franchise Keg steakhouses. KRL has been named one of “Canada’s Top 50 Employers” by Aon Hewitt for the past seventeen years.

The Trustees of the Fund have approved the contents of this press release.

For more information:

Investor Relations
Phone: (604) 276-0242
Email: InvestorRelations@kegrestaurants.com
www.kegincomefund.com

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Legg Mason BW Global Income Opportunities Fund Inc. (NYSE:BWG) Announces Monthly Dividend of $0.09 https://imjustsayin.net/legg-mason-bw-global-income-opportunities-fund-inc-nysebwg-announces-monthly-dividend-of-0-09/ Wed, 18 May 2022 21:09:23 +0000 https://imjustsayin.net/legg-mason-bw-global-income-opportunities-fund-inc-nysebwg-announces-monthly-dividend-of-0-09/ Legg Mason BW Global Income Opportunities Fund Inc. (NYSE: BWG – Get Rating) declared a monthly dividend on Wednesday, May 18, reports The Wall Street Journal. Shareholders of record on Thursday, June 23 will receive a dividend of 0.09 per share on Friday, July 1. This represents a dividend of $1.08 on an annualized basis […]]]>

Legg Mason BW Global Income Opportunities Fund Inc. (NYSE: BWG – Get Rating) declared a monthly dividend on Wednesday, May 18, reports The Wall Street Journal. Shareholders of record on Thursday, June 23 will receive a dividend of 0.09 per share on Friday, July 1. This represents a dividend of $1.08 on an annualized basis and a yield of 12.43%. The ex-date of this dividend is Wednesday, June 22.

Legg Mason BW Global Income Opportunities Fund has increased its dividend by an average of 4.3% per year over the past three years and has increased its dividend every year for the past 3 years.

NYSE BWG traded down $0.05 during Wednesday’s trading, hitting $8.69. 2,023 shares of the company were traded, against an average volume of 59,144. The company has a 50-day moving average price of $9.64 and a 200-day moving average price of $10.87. Legg Mason BW Global Income Opportunities Fund has a fifty-two week low of $8.61 and a fifty-two week high of $13.09.

A number of hedge funds and other institutional investors have recently changed their holdings in BWG. Cetera Investment Advisers increased its stake in Legg Mason BW Global Income Opportunities Fund by 10.5% in the fourth quarter. Cetera Investment Advisers now owns 18,417 shares of the company valued at $216,000 after purchasing an additional 1,745 shares last quarter. Royal Bank of Canada increased its position in Legg Mason BW Global Income Opportunities Fund by 4.2% in the first quarter. Royal Bank of Canada now owns 95,034 shares of the company valued at $961,000 after acquiring 3,848 additional shares in the last quarter. NewEdge Advisors LLC increased its position in Legg Mason BW Global Income Opportunities Fund by 9.1% in the first quarter. NewEdge Advisors LLC now owns 75,800 shares of the company valued at $767,000 after acquiring an additional 6,300 shares in the last quarter. UBS Group AG increased its position in Legg Mason BW Global Income Opportunities Fund by 5.2% in the third quarter. UBS Group AG now owns 172,693 shares of the company valued at $2,162,000 after acquiring an additional 8,605 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in Legg Mason BW Global Income Opportunities Fund in the fourth quarter, valued at around $139,000.

Company Profile Legg Mason BW Global Income Opportunities Fund (Get a rating)

Legg Mason BW Global Income Opportunities Fund Inc is a closed-end, fixed-income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. The fund is co-managed by Brandywine Global Investment Management, LLC. It invests in bond markets. The fund uses fundamental analysis to create its portfolio.

Further reading

Dividend history for Legg Mason BW Global Income Opportunities Fund (NYSE:BWG)



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A guaranteed basic income could end poverty, so why isn’t it happening? https://imjustsayin.net/a-guaranteed-basic-income-could-end-poverty-so-why-isnt-it-happening/ Mon, 16 May 2022 15:59:19 +0000 https://imjustsayin.net/a-guaranteed-basic-income-could-end-poverty-so-why-isnt-it-happening/ PHOTO: Revenue/Mike Lawrence via Flickr On April 27, Senator Diane Bellemare published an op-ed in the Globe and Mail oppose a guaranteed basic income proposal where all Canadian citizens and residents over the age of 17 would receive an unconditional guaranteed sufficient income. A recent poll suggests that almost 60% of Canadians support a basic […]]]>

PHOTO: Revenue/Mike Lawrence via Flickr

On April 27, Senator Diane Bellemare published an op-ed in the Globe and Mail oppose a guaranteed basic income proposal where all Canadian citizens and residents over the age of 17 would receive an unconditional guaranteed sufficient income.

A recent poll suggests that almost 60% of Canadians support a basic income of $30,000. In another poll, 57% of Canadians agree that Canada should create a universal basic income for all Canadians, regardless of their job.

Despite strong public support, Bellemare argued that “a basic income would be an unfair, complicated and costly way to eliminate poverty”. As a social scientist who has studied cash transfers, and an entrepreneur and organizational leader, we challenge the idea that basic income is “unfair”, “complicated” and “expensive”. Instead, we argue it can be fair, simple, and affordable.

Basic income can be just

Basic income can be fair for all Canadians and suitable for people with different needs. A system that includes basic income does not necessarily imply the clawback of existing benefits and services.

It is important to note that a carefully designed, phased-in Basic Income program can be monitored and adjusted over time, to ensure that diverse individual needs are always catered for.

Research from Stanford University suggests that a basic income program can inspire meaningful social integration – greater participation in social and civic activities in the community – while providing individuals with stability, safety and security.

An analysis of the Ontario Basic Income Trial showed that people with diverse needs reported better personal relationships with friends and family on a Basic Income. In turn, their sense of social inclusion and citizenship has improved.

Basic income can be simple

With careful planning, a basic income system could be designed to be simple, adaptable, reliable, and equitable. In other words, it could be a type of synergistic solution that involves an optimal combination of different policy programs that produce greater efficiency. For example, a basic income program could be combined with a wage subsidy program.

Contrary to Senator Bellemare’s assertion that “Basic Income would likely hinder participation in the labor market,” research has found that Basic Income has no negative impact on the labor market. In other words, the basic income does not have a negative impact on employment rates or wages.

With a basic income program, recipients would be motivated to participate in the workforce and feel empowered to discover the most satisfying way to work without fearing for their financial security.

Basic income can be affordable

Recent cost-benefit analyzes have demonstrated that carefully designed cash interventions can be cost-effective and generate net savings for society. Beneficiaries depend less on social services over time, which means governments pay less to fund these programs.

Although Bellemare’s analysis suggests there may be a cost issue, other, more in-depth analyzes have considered the true costs and benefits of basic income programs and refuted this claim.

We caution against overly simplistic cost estimates and call for a more careful and thorough calculation of the true costs and benefits associated with basic income programs. In fact, Canada can adopt a basic income program without increasing its tax debt.

Last year, the Office of the Parliamentary Budget Officer of Canada estimated that a guaranteed basic income of $17,000 per person would cost the government $88 billion.

This amount could be offset by reducing tax credits that disproportionately benefit Canadians with higher incomes. In addition, a well-designed basic income program can provide non-monetary benefits that are not typically captured in cost-benefit analyses, such as improvements in health, education, social cohesion and productivity.

Research supports Basic Income

There is a considerable amount of research supporting Basic Income around the world. It is prudent to conduct considerably in-depth research to reduce hesitations about basic income for social and economic reasons. Basic income can be a reliable and powerful component of a national program to reduce poverty and enable all citizens to thrive.

Basic income should be part of a comprehensive and practical plan to end poverty in Canada. Indeed, there is an emerging political will to push for a national strategy for a guaranteed basic income.

Last summer, Liberal MP Julie Dzerowicz sponsored Bill C-273, the National Guaranteed Basic Income Strategy Act. It was the first time that a Basic Income Bill had been debated in Parliament. And in February 2021, four senators — three from Prince Edward Island, one from Ontario — released an open letter calling for a nationwide Guaranteed Basic Income.

This is essential, because poverty is a useless and cruel abomination. Think of it this way: most Canadians probably have a close friend or family member who is affected by poverty, since one in 15 Canadians still lives in poverty.

Poverty affects us all – it is everyone’s tragedy, which is absurd because poverty can be reduced at an affordable price, as we explained above. Hopefully, one day future Canadians will look back to 2022 and wonder how a just society could have tolerated such unnecessary suffering.

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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First Trust Municipal High Income ETF (NASDAQ:FMHI) Sees Significant Drop in Short-Term Interest https://imjustsayin.net/first-trust-municipal-high-income-etf-nasdaqfmhi-sees-significant-drop-in-short-term-interest/ Sat, 14 May 2022 15:30:10 +0000 https://imjustsayin.net/first-trust-municipal-high-income-etf-nasdaqfmhi-sees-significant-drop-in-short-term-interest/ Municipal high-income ETF First Trust (NASDAQ: FMHI – Get Rating) benefited from a significant drop in short-term interest rates during the month of April. As of April 30, there was short interest totaling 43,500 shares, down 40.9% from the April 15 total of 73,600 shares. Based on an average daily volume of 89,600 shares, the […]]]>

Municipal high-income ETF First Trust (NASDAQ: FMHI – Get Rating) benefited from a significant drop in short-term interest rates during the month of April. As of April 30, there was short interest totaling 43,500 shares, down 40.9% from the April 15 total of 73,600 shares. Based on an average daily volume of 89,600 shares, the day-to-cover ratio is currently 0.5 days.

FMHI stock traded at $0.23 midday Friday, hitting $47.70. 66,387 shares were traded, against an average volume of 86,874. The stock’s 50-day moving average price is $50.42 and its 200-day moving average price is $53.57. The First Trust Municipal High Income ETF has a fifty-two-week low of $47.62 and a fifty-two-week high of $57.76.

The company also recently disclosed a monthly dividend, which was paid on Friday, April 29. Investors of record on Friday, April 22 received a dividend of $0.13 per share. The ex-dividend date was Thursday, April 21. This represents an annualized dividend of $1.56 and a yield of 3.27%.

A number of hedge funds have recently changed their stock holdings. Nations Financial Group Inc. IA ADV increased its holdings in First Trust Municipal High Income ETF by 42.6% in the first quarter. Nations Financial Group Inc. IA ADV now owns 6,360 shares of the company worth $326,000 after purchasing an additional 1,900 shares in the last quarter. Flow Traders US LLC acquired a new position in First Trust Municipal High Income ETF during the first quarter worth $429,000. Principle Wealth Partners LLC increased its holdings in First Trust Municipal High Income ETF by 37.1% in the first quarter. Principle Wealth Partners LLC now owns 12,427 shares of the company worth $636,000 after buying 3,360 additional shares in the last quarter. DHJJ Financial Advisors Ltd. increased its position in municipal high-income ETF First Trust by 24.7% in the first quarter. DHJJ Financial Advisors Ltd. now owns 6,101 shares of the company worth $315,000 after purchasing an additional 1,207 shares in the last quarter. Finally, Citigroup Inc. increased its position in First Trust Municipal High Income ETF by 8.5% during the first quarter. Citigroup Inc. now owns 87,742 shares of the company worth $4,493,000 after purchasing an additional 6,900 shares last quarter.

See also



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VitalHub Reports Record Revenue of $9,423,191 and Net Profit of $1,437,611 in Q1 2022 https://imjustsayin.net/vitalhub-reports-record-revenue-of-9423191-and-net-profit-of-1437611-in-q1-2022/ Thu, 12 May 2022 23:39:37 +0000 https://imjustsayin.net/vitalhub-reports-record-revenue-of-9423191-and-net-profit-of-1437611-in-q1-2022/ Enter Wall Street with StreetInsider Premium. Claim your one week free trial here. TORONTO, May 12, 2022 (GLOBE NEWSWIRE) — VitalHub Corp. (the “Company” or “VitalHub”) (TSX: VHI) today announced that it has filed its condensed interim consolidated financial statements and MD&A for the three months ended March 31, 2022 with Canadian securities regulators. These […]]]>

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TORONTO, May 12, 2022 (GLOBE NEWSWIRE) — VitalHub Corp. (the “Company” or “VitalHub”) (TSX: VHI) today announced that it has filed its condensed interim consolidated financial statements and MD&A for the three months ended March 31, 2022 with Canadian securities regulators. These documents can be viewed under the Company’s profile at www.sedar.com.

When asked to comment on the results, Vitalhub CEO Dan Matlow said:

“The current trend in the global market to use digital solutions to reduce capacity constraints, improve patient access to services and manage patient flow through local health systems in hospitals and community settings is a key driver in the increased adoption of Vitalhub’s proven solutions. We saw this increased adoption across all of the company’s products, resulting in record first quarter results. »

The company will host a conference call via Zoom on May 13, 2022 at 9:00 a.m. EDT hosted by CEO Dan Matlow and Chief Financial Officer Brian Goffenberg with a Q&A session to follow. To register for the conference call, please visit: VitalHub Q1 2022 Conference Call or https://bit.ly/37adrdh

First Quarter 2022 Highlights

  • Revenues of $9,423,191, an increase of $4,100,117 or 77% over the comparative period of the previous year.
  • Gross margin as a percentage of revenue for the first quarter of 2022 was 84%, compared to 76% in the first quarter of 2021 and 79% in the fourth quarter of 2021.
  • ARR(1, 2) increased by $1,908,427 to $24,015,090, achieving 9% growth for the quarter ($2,743,987 or 11.39% in constant currencies) – (1,485,613 $ or 6.72% organically and $1,032,000 or 4.67% per acquisition and a decrease due to an unrealized foreign exchange loss of $609,186 or 2.76%, which is attributable to the fluctuation of the pound sterling by against the Canadian dollar with a decline of CA$1: £1.73 to CA$1: £1.64) in Q1 2021 compared to Q4 2021.
  • New customer billings for perpetual and recurring licenses, support, services and hardware were $8.7M, of which $2.9M was recognized during the quarter, and the balance was $5.8M. $M is deferred to be recognized as earned over the next 12-60 months.
  • Net profit of $1,437,611 compared to a net loss of ($241,671) in the comparative period of the previous year.
  • EBITDA (2) of $2,367,044 compared to $299,241 for the comparative period of the previous fiscal year.
  • Adjusted EBITDA (2) of $3,051,015, or 32% of revenues, compared to $865,864 or 16% of revenues for the comparative period of the previous fiscal year.
  • Cash at March 31, 2022 was $20,751,890 compared to $16,389,982 at December 31, 2021.
  • Cash flow from operations before changes in working capital was $2,594,450 for the period compared to $706,961 for the same period last year.
  • Vitalhub was ranked 20th in Deloitte’s Technology Fast 50 2021 program among Canadian companies for its rapid revenue growth with 1103% growth from 2017 to 2020. The company also ranked 127th in North America on Deloitte’s Technology Fast 500 ranking list.
  • With the addition of Hicom’s ARR after the quarter, Vitalhub’s ARR is approximately $30,903,090 (ARR at the end of Q1 2022 $24,05,090 plus Hicom ARR of $6,888,000). ARR is a non-IFRS measure.

(1) The Company defines annual recurring revenue (“ARR”) as expected recurring revenue based on annual subscriptions to renewable software license fees and maintenance services (2) Non-IFRS measure

Q1 2022 RESULTS

Three months completed
March 31, 2022 %Revenue March 31, 2021 %Revenue Switch
$ $ %
Revenue 9,423,191 100% 5,323,074 100% 77%
Cost of sales 1,474,579 16% 1,278,099 24% 15%
Gross profit 7,948,612 84% 4,044,975 76% 97%
Functionnary costs
general and administrative 1,821,638 19% 1,198,918 23% 52%
Sales and Marketing 1,048,389 11% 754,630 14% 39%
Research and development 2,048,245 22% 1,158,173 22% 77%
Depreciation 43,317 0% 33,347 1% 30%
Amortization of rights of use 63,389 1% 63,571 1% (0%)
Stock-based compensation 269 ​​244 3% 319,777 6% (16%)
Exchange loss (gain) (20,675) (0%) 64,923 1% (132%)
Other income and expenses
Amortization of intangible assets 683 928 7% 433,972 8% 58%
Business acquisition, restructuring and integration costs 414,727 4% 246,816 5% 68%
Interest expense and accretion (net of interest income) (4,720) (0%) (10,530) (0%) (55%)
Sublease interest income 0 0% (59) (0%) 0%
Interest expense on lease debts 17,618 0% 20,611 0% (15%)
Loss on disposal of property, plant and equipment 0 0% 2,497 0% 0%
Current and deferred taxes 125,901 1% 0 0% 100%
Net profit (loss) 1,437,611 15% (241,671) (5%) 695%
EBITDA (Non-IFRS measure) 2,367,044 25% 299 241 6% 691%
Adjusted EBITDA (Non-IFRS measure) 3,051,015 32% 865 834 16% 252%
Recurring annual income (Non-IFRS measure) 24,015,090 15,931,628 51%
Recurring revenue (Non-IFRS measure) 5,732,891 61% 3,868,358 73% 48%
Deferred revenue 14,405,056 8,821,331
Cash balance 20,751,890 16,389,982

ABOUT VITALHUB:

Software for health and social service providers designed to simplify user experience and optimize outcomes.

Vitalhub provides the technology to health and social service providers including; Hospitals, regional health authorities, mental health, long-term care, home care, community and social services. Vitalhub solutions span the categories of Electronic Health Record (EHR), Case Management, Care Coordination, Patient Flow and Operational Visibility, and DOCit ​​Mobile Apps.

The company has a strong two-pronged growth strategy, targeting organic growth opportunities within its product line and pursuing an aggressive mergers and acquisitions plan. Currently, Vitalhub serves over 275 customers in Canada, USA, UK, Australia, Qatar and Latvia. Vitalhub is based in Toronto, Canada, with an offshore development center in Sri Lanka. The Company is listed on the TSX Venture Exchange under the symbol “VHI”.

CAUTION :

This press release contains forward-looking statements regarding the Company and its business, which may include, but are not limited to, statements regarding the appointment of new directors. Often, but not always, forward-looking statements can be identified by the use of words such as “anticipates”, “is planned”, “expects”, “anticipates”, “intends”, “intends “, “anticipates”, “believes”, “proposes” or variations (including negative variations) of these words and phrases, or states that certain actions, events or results “may”, “could”, “would”, “could” or “will” be taken, occur or be affected. These statements are based on the current expectations of the management of each entity and are based on assumptions and subject to risks and uncertainties. Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur on certain specific dates or may not occur at all and may differ materially due to known and unknown risk factors and uncertainties affecting the businesses, including risks relating to the technology industry, failure to obtain regulatory or shareholder approvals, market conditions, economic factors, stock markets generally, and risks associated with growth and competition. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actual actions, events or results differ from those anticipated, estimated or expected. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether whether as a result of new information, future events, or otherwise.

CONTACT INFORMATION

Dan MatlowChief Executive Officer, Director(416) 727-9061[email protected]

main logo

Source: Vitalhub Corp.

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ICTSI generates net income of $142.3 million in the first quarter https://imjustsayin.net/ictsi-generates-net-income-of-142-3-million-in-the-first-quarter/ Tue, 10 May 2022 16:08:22 +0000 https://imjustsayin.net/ictsi-generates-net-income-of-142-3-million-in-the-first-quarter/ Photo of the berth at ICTSI’s flagship international container terminal in Manila CONTRIBUTED PHOTO INTERNATIONAL Container Terminal Services Inc. (ICTSI) reported net profit of $142.3 million in the first quarter (Q1), 58% higher than the $90.1 million in the first quarter of last year, boosted by the performance of the new terminals and the increase […]]]>

Photo of the berth at ICTSI’s flagship international container terminal in Manila CONTRIBUTED PHOTO

INTERNATIONAL Container Terminal Services Inc. (ICTSI) reported net profit of $142.3 million in the first quarter (Q1), 58% higher than the $90.1 million in the first quarter of last year, boosted by the performance of the new terminals and the increase in operating profit.

ICTSI Chairman and President, Enrique Razon Jr., said, “The year has started very well with continued momentum from 2021 resulting in strong growth across the business. terminals, we saw a 5% increase in throughput. »

Revenue rose 21% to $528.3 million, up 21% from the $435.6 million reported last year, while earnings before interest, taxes, depreciation and amortization (Ebitda) grew 28% to $337.9 million on strong performance from new terminals and joint ventures.

“These results demonstrate the strength of our business and its ability to generate growth through our diverse portfolio and our longstanding positive relationships with local communities around the world. We are aware of the challenges ahead as the tragic conflict in Ukraine impacts the global economy and continues to carefully monitor the situation,” he added.

ICTSI handled a consolidated volume of 2.833 million twenty-foot equivalent units (TEUs) in the first quarter of 2022, up 5%, driven by improved commercial operations as economies continue to recover from the impact of the pandemic. New contracts with shipping companies and new services in some terminals, a new terminal, International Container Terminal Services Nigeria Ltd. (ICTSNL) in the port of Onne, Rivers State, Nigeria, also contributed to the volume growth.

Port operations gross revenue increased 21% to $528.3 million, primarily due to volume growth at most terminals, a favorable container mix, tariff adjustments at some terminals, new contracts with shipping lines and services and increased revenues from ancillary services. The new ICTSNL terminals in Nigeria, Manila Harbor Center Port Services Inc. (MHCPSI) in the Philippines and IRB Logistica in Brazil also contributed to the revenue growth.

Capital expenditures, excluding capitalized borrowing costs, were $52.4 million for the first quarter of 2022, primarily for ongoing expansion projects at Manila International Container Terminal (MICT) , VICT in Melbourne, Australia, Contecon Manzanillo SA de CV (CMSA) in Manzanillo, Mexico and ICTSI DR Congo SA (IDRC) in Matadi, Democratic Republic of Congo.

The ICTSI Group’s capital expenditure budget for 2022 is approximately $330.0 million, to be used primarily for the payment of initial concession extension fees to Madagascar International Container Terminal Services Ltd. (MICTSL); continued expansion of terminals in the Democratic Republic of Congo, Australia, Mexico and the Philippines. ICTSI will also allocate a budget for equipment acquisitions and upgrades as well as for various maintenance needs.

“ICTSI is a resilient company and I am confident that together with our talented team, we will continue to bring value to all of our stakeholders,” said Razon.


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This renewable energy stock continues to generate ever-increasing passive income https://imjustsayin.net/this-renewable-energy-stock-continues-to-generate-ever-increasing-passive-income/ Sun, 08 May 2022 15:15:00 +0000 https://imjustsayin.net/this-renewable-energy-stock-continues-to-generate-ever-increasing-passive-income/ Clearway Energy (NYSE: CWEN)(NYSE: CWEN.A) is one of the many beneficiaries of the country’s transition to cleaner energy sources. The company finds a steady stream of investment opportunities to increase its recurring cash flow. This gives it the funds to continue increasing its dividend. With a broad opportunity set and financial flexibility, Clearway should continue […]]]>

Clearway Energy (NYSE: CWEN)(NYSE: CWEN.A) is one of the many beneficiaries of the country’s transition to cleaner energy sources. The company finds a steady stream of investment opportunities to increase its recurring cash flow. This gives it the funds to continue increasing its dividend.

With a broad opportunity set and financial flexibility, Clearway should continue to deliver steady dividend growth over the next few years. This makes it an excellent option for investors looking for a renewable energy-powered passive income flow.

Image source: Getty Images.

A great performance to start the year

Clearway Energy recently released its first quarter results. The clean energy producer posted strong numbers. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 31.3% to $260 million. The company has benefited from recent growth investments and strong production in its line of business solar wallet. This makes it possible to compensate for performance below expectations in its wind wallet.

Cash available for distribution (CAFD) was negative $2 million during the period, representing an improvement over A negative $15 million last year. It was also within its estimated quarterly sensitivity range for what is historically a seasonally lower quarter.

More progress on the strategic growth plan

The biggest news was the recent closing of the sale of its thermal business. The deal provides Clearway with unprecedented financial flexibility as it received $1.35 billion in net proceeds. The company used the funds to immediately repay the company’s temporary loans. He plans to eventually redeploy all that capital into new opportunities.

Clearway currently has approximately $600 million in growth investments lined up. This includes a $22 million investment in a 39 megawatt (MW) solar project with 156 megawatt hours of storage capacity currently under construction in Hawaii. It is expected to start commercial operations in the second half of this year.

Meanwhile, the company is making progress in rolling out the remaining $750 million. He is currently working with his sponsor, renewable energy developer Clearway Energy Group, on more than $300 million in future down deals. This represents a small part of this company’s huge and growing development pipeline.

This growing pipeline of investment opportunities gives Clearway confidence in its long-term prospects. With the sale of its thermal business complete, Clearway now expects to generate $365 million in CAFD this year. That’s down from its original outlook of $395 million, assuming a full year of thermal activity at $40 million in CAFD.

However, the company expects the redeployment of proceeds from the sale to drive significant growth for CAFD in the coming years. The $600 million in investments it has already secured will increase its pro forma annualized CAFD to $385 million upon closing of these transactions. Meanwhile, he believes he can increase his CAFD to over $440 million by deploying the remaining $750 million. It is making progress on this, with the potential $300 million drop it is currently exploring which could increase its annualized CAFD by $26 million.

This outlook supports Clearway Energy’s view that it can increase its dividend towards the upper end of its annual range of 5% to 8% through 2026. The company recently increased its payout by an additional 2%, pushing the dividend yield at 4.5%.

Strong passive income growth ahead

Clearway Energy received a huge windfall by selling its thermal business. The company thinks it can deploy these products in new investments to make up for lost revenue and then some. This should give the company the power to generate high-end dividend growth over the next few years, making it an attractive stock for passive income seekers.

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Live Nation breaks records with first quarter results and adjusted operating profit of $209 million https://imjustsayin.net/live-nation-breaks-records-with-first-quarter-results-and-adjusted-operating-profit-of-209-million/ Fri, 06 May 2022 08:20:00 +0000 https://imjustsayin.net/live-nation-breaks-records-with-first-quarter-results-and-adjusted-operating-profit-of-209-million/ Live Nation: Business is booming LIVE NATION ENTERTAINMENT broke records in its first quarter 2022 earnings report. With the pandemic lifted, the company sold more than 70 million tickets to shows in the calendar year. CEO/President MICHAEL RAPINO pointed to operating profit of $27 million and adjusted […]]]>



Live Nation: Business is booming



LIVE NATION ENTERTAINMENT broke records in its first quarter 2022 earnings report. With the pandemic lifted, the company sold more than 70 million tickets to shows in the calendar year.

CEO/President MICHAEL RAPINO pointed to operating profit of $27 million and adjusted operating profit of $209 million for the quarter, beating the company’s pandemic year of 2021 during which they recorded a loss of $303.2 million in operating profit. This is the highest adjusted operating profit ever for the company, surpassing the first quarter of 2019 by $94 million.

LIVE NATION reported total revenue of $1.803 billion in the quarter, including $480.4 million from ticket sales.

“Artists are back on the road and fan demand has never been higher, which shows that live events remain a clear priority for consumers as our social life restarts,” RAPINO said. “TICKETMASTER’s strong performance in the first quarter boosted the company’s overall profitability and shows how well-positioned our concert and sponsorship businesses are to generate record results this year.”

Not only has fan demand skyrocketed, but the signing of new TICKETMASTER contracts has also increased, leading to increased ticket sales,..

Sponsorships are coming back quickly after drying up during the pandemic, well past the last “normal” year of 2019.

RAPINO added, “We are seeing growth in several dimensions: expanding existing relationships, new categories expanding our range of partners, and new ad units created both on-site and online.

“The number of strategic sponsors that have generated more than $1 million in revenue per year has increased by nearly 30% since 2019, with their incurred spend increasing by 70% and representing 80% of our total sponsorship revenue. Approximately 60% of this growth has come from three particularly prioritized categories over the past two years – technology, telecoms and buyer journey integration – which have collectively more than doubled their sponsorship since 2019.”

RAPINO says all signs point to double-digit concert attendance growth in 2022, compared to the last comparable year in 2019.

With more than 70 million tickets already sold for 2022 shows, volume is up 36% from this point in 2019 and the number of committed shows is up 44% through the end of April compared to 2019. No-shows, which were a concern in 2021, are generally at an average number in 2022.

Per capita spending is also healthy, with average incomes up 30% from the first quarter of 2019.

“Concert fans show no signs of slowing down – they’re paying more for better tickets, attending shows and spending more on-site as they create lasting memories,” RAPINO added.

“I continue to expect this to be the start of our run. The global addressable market for concerts, box office and sponsorship all offer a long avenue for continued growth. We already have over 60 tours under discussion. for 2023 – our first indicator for next year and excellent positioning for continued growth.




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