IEC Electronics Corp. (NYSE American: IEC) today announced results for the fiscal 2018 fourth quarter and year ended September 30, 2018.
IEC reported revenues of $34.2 million for the fourth quarter of fiscal 2018, an increase of 24% as compared to revenues of $27.6 million for the fiscal 2017 fourth quarter ended September 30, 2017 and a sequential increase of 15% as compared to the third quarter of 2018.
Gross profit margin for the fourth quarter of fiscal 2018 improved to 13.1% as compared to 12.6% in the same quarter last year.
Key Quote: “With the close of fiscal 2018, we believe our Company has fully exited the turnaround phase and is well positioned to drive sustained growth. Our strong fourth quarter performance was characterized by increased revenues levels, which have not been seen in 5 years, as well as strong backlog growth.” Jeffrey T. Schlarbaum, President and CEO of IEC Electronics
The Backstory: IEC Electronics is a provider of electronic manufacturing services ("EMS") to advanced technology companies that produce life-saving and mission critical products for the medical, industrial, aerospace, and defense sectors. The Company specializes in delivering technical solutions for the custom manufacture of complex full system assemblies by providing on-site analytical testing laboratories, custom design and test engineering services combined with a broad array of manufacturing services encompassing electronics, interconnect solutions, and precision metalworking.
Cemtrex Inc. (NASDAQ: CETX), a world-leading technology and manufacturing company, today provided more information regarding its upcoming rights offering.
Key Quote: “We currently have a backlog of approximately 800 SmartDesks, and this offering will provide funds to help fulfill these orders by getting 1,500 SmartDesks delivered in our warehouse from our supply chain in the coming weeks,” said Saagar Govil, CEO of Cemtrex.
“With 1500 SmartDesks on hand, we will also be able to accommodate the requirements of new clients who want be part of our Enterprise sales program, and furthermore, we will be able to immediately deliver any new orders, eliminating the wait that customers might face. Once these 1500 SmartDesks are shipped, we will generate revenue of approximately $7.5 million, and with 35% gross margins, a hefty gross profit of $2.6 million. These funds will be reinvested into the production of the next batch of SmartDesks.”
The Backstory: Cemtrex, Inc. (CETX) is a diversified technology company driving innovation in a wide range of sectors, including smart technology, virtual and augmented realities, advanced electronic systems, industrial solutions, and intelligent security systems. Cemtrex is the manufacturer of the SmartDesk, the world’s most advanced workstation. Find us on the web at www.cemtrex.com.
Disclosure
Cemtrex, Inc. (NASDAQ: CETX) agreed to pay RedChip Companies, Inc. a monthly cash fee for three (3) months of investor relation awareness services.
Catalyst Biosciences, Inc. (NASDAQ: CBIO), a clinical-stage biopharmaceutical company focused on developing novel medicines to address hematology indications, announced additional positive interim data from its Phase 2/3 study of subcutaneous prophylactic Factor VIIa (FVIIa) variant marzeptacog alfa (activated) (MarzAA), currently being developed for the treatment of hemophilia A or B with inhibitors.
Key Quote: “These results support the efficacy of MarzAA as a subcutaneous prophylactic treatment option for individuals with hemophilia A or B with inhibitors.” Nassim Usman, Ph.D., chief executive officer of Catalyst
The Backstory: Catalyst is a clinical-stage biopharmaceutical company developing novel medicines to address hematology indications. Catalyst is focused on the field of hemostasis, including the subcutaneous prophylaxis of hemophilia and facilitating surgery in individuals with hemophilia. For more information, please visit www.catalystbiosciences.com.
More mobile users, more connected devices, and more applications are spurring big upgrades of communications networks, both at the carrier and enterprise levels.
According to Bloomberg, mobile-phone companies, chipmakers, device manufacturers, and software developers are expected to spend $200 billion a year in research and capex to usher in next generation 5G wireless networks.
Most mobile-phone companies are targeting 2020 for the initial rollout of the technology, which promises 10 times faster speeds and lower latency, or lag time, in transferring data when it’s requested, while some carriers, including Verizon (NYSE: VZ), are already moving from trials to deployments.
Disclosure
Spectrum Global Solutions (OTC:SGSI) is a client of RedChip Companies, Inc. SGSI agreed to pay RedChip Companies, Inc. a monthly cash fee for six (6) months of RedChip investor awareness services.
Trump and Xi Agree to Pause U.S.-China Trade War, Likely to Ease Investors’ Immediate Fears
U.S. President Donald Trump and Chinese President Xi Jinping agreed to a truce on the trade war that has weighed heavily on global equity markets for most of 2018.
The two largest economies agreed to hold off on additional tariffs on each other's goods at the start of the new year to allow for talks to continue.
"This is all constructive news for markets, however the overarching concerns in the U.S.-China relationship remain, and thus should imply caution for markets past the short-term," wrote Sacha Tihanyi, deputy head of emerging markets for TD Securities.
Esports, competitive video gaming at a professional level, have been around for decades.
From humble beginnings in the 1980s, competitive video gaming has exploded in recent years.
Today, players participate in professional leagues with team franchises and high-dollar media deals. They display their skills in sold-out arenas as millions of fans watch online.
What was once a niche world of small online communities is now a billion-dollar global industry and growing.
To put the surging popularity in perspective for those new to this market, last year’s League of Legends world championship, where players competed for millions of dollars in prize money, was held at the famous Birds Nest in Beijing, the national stadium originally built for the 2008 Olympic games. And it was packed.
Overall, an estimated 385 million people from around the world tune in to watch teams of video gamers compete.
Media rights for events, which hit $50 million in 2016, are expected to surge seven-fold by 2020, reaching nearly $340 million.
Disclosure
Esports Entertainment Group, Inc. (OTCQB:GMBL) is a client of RedChip Companies, Inc. GMBL agreed to pay RedChip Companies, Inc. a monthly cash fee for six (6) months of RedChip investor awareness services.
There are 80 million consumers in the U.S. who are unbanked or underbanked, according to data from a 2015 FDIC report. These consumers make an estimated $500 billion in payments annually.
Without access to traditional banking products, unbanked consumers rely on cash transactions and money transfer services for their financial needs, creating myriad challenges to meeting basic needs in an increasingly digital world.
The proliferation of mobile technology, a surge in financial technology (fintech) innovation, and a rapidly growing Miami-based firm called Cuentas (OTC: CUEN) are about to change all that.
Disclosure
Cuentas (OTC: CUEN) agreed to pay RedChip Companies, Inc. 10,000 shares of Rule 144 stock and a monthly cash fee for three (3) months of investor relation awareness services.
Last week, New Jersey moved a step closer to legalizing recreational marijuana as a joint Assembly and Senate committee voted to pass a key bill related to taxes on sales.
After the bill cleared the joint committee, it is released to the full Legislature, which is expected to vote on it next month. After that, Gov. Phil Murphy will sign it into law. However, Murphy has not openly endorsed the bill, although he has spoken in favor of legalization.
If the legalization bill becomes law, New Jersey will become the 11th state to legalize cannabis fully. It will also be the state with one of the lowest effective tax rates.
Bottom line, the legalization trend in the U.S. is well-established now, yet much of the opportunity remains untapped. Finding the right players, with the right management teams capable of scaling operations and navigating evolving regulatory environments, is no easy feat.
One such company is GSRX Industries (OTCQB: GSRX), led by former Macy’s Midwest Chairman & CEO Les Ball. The company hit the ground running earlier this year in Puerto Rico, where it’s quickly becoming the dominant dispensary brand on the island. With additional successes in the massive California market, GSRX is ideally positioned for upside in 2019.
Disclosure
GSRX Industries (OTCQB: GSRX) is a client of RedChip Companies. RedChip Companies, Inc. received 1,000,000 registered shares of GSRX for consulting services and 50,000 shares for investor awareness services. Be advised RedChip intends to sell some or all of its shares at any time, including when you are buying.
Quote of the Week
"Higher returns, of course, come with more risk...the trade off is, yes, you get long-term outperformance ... but the volatility of returns is greater... That's the price you pay if you want exposure to a better-performing asset class."
- Samuel Dedio, Manager of the Artio U.S. Microcap Fund (JMCAX)
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