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News Article | May 26, 2017
Site: www.prlog.org

-- St. George Logistics (STG) (http://www.stgusa.com/)today announced that its Executive Chairman Chris Jamroz has been appointed to the Board of Governors of the Royal Ontario Museum (ROM), one of the world's leading museums of natural history and world cultures."The Royal Ontario Museum is truly one of Canada's and North America's great museums and I am humbled to accept this invitation to be a member of its Board of Governors," said Jamroz, who served on the ROM's Board of Trustees from 2010 to 2016."We are grateful that Mr. Jamroz has agreed to join ROM's Board of Governors," said Susan Horvath, President and CEO of the ROM Governors."His generous commitment of time, and impressive executive and international talent on our Board of Trustees have been invaluable.  We know he will continue to make a difference to the ROM in his new role, and are deeply appreciative of his dedication and many contributions."Located in Toronto, Ontario, the Royal Ontario Museum is Canada's largest museum, with over 30 galleries showcasing art, archeology and natural science. The ROM, which has a dual mandate of researching and communicating World Cultures and Natural History, is internationally renowned for its researchThe ROM's Board of Governors is a federally incorporated private sector Board, responsible for its long-term financial health as well as the growth and management of its financial assets. Board members are volunteers who are dedicated to public service and to the ROM's well-being and long-term stability.Jamroz is a fervent advocate of education, promoting diversity and inclusion, and mentorship. He is an active supporter of Big Brothers Big Sisters of New York City and Greater Miami and serves as the chair of Junior Achievement programs. Jamroz was appointed to co-chair the Canada 150 Advisory Committee in 2016 to oversee preparations to celebrate the country's 150anniversary of confederation. In addition, he was a co-founder and chairman at United Foundation for the Education of Children. Jamroz was awarded the Florida Governor's Business Ambassador Medal in 2013.St. George Logistics offers a wide range of value-added logistics services including ocean and air container freight station (CFS), contract warehousing, distribution, e-commerce fulfillment and transportation services. St. George Logistics operates the largest network of independent CFS facilities in North America with very close proximity to all major ports and metropolitan areas for ocean or air cargo. St. George Logistics is also a leading provider of a wide range of additional logistics services including distribution, warehousing and reliable transportation within the U.S. Additional information about St. George Logistics is available at www.stgusa.com


News Article | May 25, 2017
Site: globenewswire.com

LAFOX, Ill., May 25, 2017 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ:RELL) today announced the sale of its picture archiving and communication systems (“PACS”) Display business, including the Image Systems brand, to Double Black Imaging. The Image Systems brand of diagnostic and clinical imaging displays has been recognized as an industry leading display brand for over 25 years.  The Image Systems product portfolio includes 2MP, 3MP, 5MP, and 6MP color and grayscale displays. Included in the sale is Image Systems proprietary calibration software, known as CFS, which is designed to simplify the conformance and calibration of all Image Systems diagnostic and clinical use displays. This ensures DICOM® compliance and proper calibration throughout their life-cycle. Double Black Imaging is a well-known, industry leading provider of PACS displays for the diagnostic and clinical display market. Double Black Imaging was launched in July of 2002.The company is privately held by the Lloyd family in Colorado and Minnesota. “Double Black Imaging shares many of the same values as Richardson Electronics including our objective to help lower healthcare costs.  We believe the combination of these two PACS display businesses creates a stronger competitive environment and will be good for our diagnostic display customers.  At the same time, this sale allows Richardson Healthcare to focus on its key initiative to expand our line of CT and MRI tubes and high value replacement parts for the diagnostic imaging market,” said Edward J. Richardson, chairman and CEO of Richardson Electronics, Ltd. Richardson Electronics, Ltd. is a leading global provider of engineered solutions, power grid and microwave tubes and related consumables; power conversion and RF and microwave components, flat panel detector solutions and replacement parts for diagnostic imaging equipment; and customized display solutions.  We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com. Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL. This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company’s business which are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s 2016 Annual Report on Form 10-K. The Company assumes no responsibility to update the forward-looking statements in this release as a result of new information, future events, or otherwise.


News Article | May 23, 2017
Site: marketersmedia.com

Revenue Growth of 46% to $10.9 Million Adjusted EBITDA of $3.2 Million ATLANTA, GA / ACCESSWIRE / May 23, 2017 / Meridian Waste Solutions, Inc. (NASDAQ: MRDN) ("Meridian Waste" or the "Company"), a vertically integrated, non-hazardous solid waste services company, today reported financial and operational results for the three-month period ended March 31, 2017. Key Financial Highlights for First Quarter 2017 Record revenues of $10.9 million, increased 46% compared to the first quarter ended March 31, 2016; primarily due to the acquisition of the CFS Group Organic revenue growth of 9.2% Adjusted EBITDA of $3.2 million; includes a full quarter pro-forma effect of the CFS acquisition Listing on Nasdaq Closed the CFS Group acquisition expanding footprint into Virginia Awarded Contracts with St. Louis County Districts 4 and 6 With the acquisition of the CFS group during the three months ended March 31, 2017, the Company's operations are now managed through two operating segments: Mid-Atlantic region, centered upon the Richmond, VA area Midwest region, centered upon the St. Louis, MO area Meridian Wastes revenue is generated primarily by collection services provided to residential customers, as well as commercial and temporary roll-off customers. With respect to its platform operation in St. Louis, the Company is focused on building in and around this initial marketplace, focusing on bidding for additional municipal contracts in the St. Louis market, as well as pursuing acquisitions in the Midwest to drive this plan. The recent acquisition of the CFS Group demonstrates a key element of Meridian Wastes strategy to create the vertically integrated infrastructure needed to expand its operations, as the Company was able to acquire underutilized assets such as a landfill and integrate these assets into the Company's collection and transfer network to improve the efficiencies and margins of the Company's operations in the market. Meridian Waste continues to evaluate many potential acquisitions both within its existing markets and new geographic areas. Chairman and Chief Executive Officer Jeff Cosman commented, "It was a very busy and productive start to 2017, as we solidified our platform in the St. Louis market by winning new business, entered a new market with potential based on vertical integration in the Richmond, Virginia area with the CFS Group acquisition, and advanced our capital markets strategy by uplisting to NASDAQ. As we continue to execute within our two existing markets, there is plenty of opportunity we are evaluating to further expand nationally. Additionally, we are excited about growth opportunities we have identified with both Meridian Innovations and Meridian Materials." Financial Results for the First Quarter Ended March 31, 2017: For the three months ended March 31, 2017, revenues were $ 10.9 million, a 46% increase from $7.5 million for the three months ended March 31, 2016. Organic revenue growth of 9.2% was driven by additional customers and price increases. Unaudited pro-forma revenue for the three months ended March 31, 2017 as if the acquisition of the CFS Group took place on January 1, 2016 was $13.4 million, which represents 6.9% organic growth as compared to the three months ended March 31, 2016. As revenues continue to grow in existing markets, Meridian Waste plans to increase the rate of this growth by increasing its presence in the commercial and "roll-off" business. Roll-off service is the hauling and disposal of large waste containers (typically between 10 and 40 cubic yards) that are loaded on to and off of the collection vehicle. Management also expects continued growth through additional mergers and acquisitions. Gross profit improved by $0.9 million to $3.9 million in the three months ended March 31, 2017, as compared to a $3.0 million gross profit in the three months ended March 31, 2016. The CFS Groups operating expenses are currently significantly higher than that of the other operating subsidiaries. For the three months ended March 31, 3017, CFS's operating expenses were approximately 74% of revenue, while the Midwest segments operating expenses were approximately 61% of revenue. Management believes there is an opportunity to improve efficiencies of operations at CFS, and would expect its operating margins to improve over time. There are also synergistic opportunities, such as creating density in some of its routes and internalization of its waste, which are also in process. For the three months ended March 31, 2017, adjusted EBITDA was $3.2 million; includes a full quarter pro-forma effect of the CFS acquisition. The following table presents Adjusted EBITDA, a non-GAAP financial measure, and provides a reconciliation of Adjusted EBITDA to the directly comparable GAAP measure reported in the Company's consolidated financial statements: Net loss for the three months ended March 31, 2017 decreased by $ 3.4 million to $3.0 million or $0.58 per share, as compared to $6.4 million or $5.93 per share in the three months ended March 31, 2016. We make reference to "Adjusted EBITDA," a measure of financial performance not calculated in accordance with accounting principles generally accepted in the United States ("GAAP"). Management has included Adjusted EBITDA because it believes that investors may find it useful to review our financial results as adjusted to exclude items as determined by management. Reconciliations of this non-GAAP financial measure to the most directly comparable GAAP financial measure, net loss, to the extent available without unreasonable effort, are set forth below. The Company defines Adjusted EBITDA as earnings or (loss) from continuing operations before the items noted in the table on page 2. Management believes Adjusted EBITDA provides a meaningful representation of our operating performance that provides useful information to investors regarding our financial condition and results of operations. Adjusted EBITDA is commonly used by financial analysts and others to measure operating performance. Furthermore, management believes that this non-GAAP financial measure may provide investors with additional meaningful comparisons between current results and results of prior periods as they are expected to be reflective of our core ongoing business. However, while we consider Adjusted EBITDA to be an important measure of operating performance, Adjusted EBITDA and other non-GAAP financial measures have limitations, and investors should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. Further, Adjusted EBITDA, as we define it, may not be comparable to EBITDA, or similarly titled measures, as defined by other companies. Meridian Waste Solutions, Inc. (NASDAQ: MRDN) is a company defined by our commitment to servicing our customers with unwavering respect, fairness and care. We are focused on finding and implementing solutions to solid waste needs and challenges within the industry and for our customers. Meridian Waste's core business is centered on residential and commercial waste collection and disposal but it also includes a fundamental objective to seek rewarding environmental solutions through innovation. Currently, the company operates in St. Louis, Missouri and Richmond, Virginia servicing over 113,000 residential, commercial, industrial and governmental customers. In addition to a fleet of commercial, residential and roll off trucks, the Company operates four transfer stations, one recycling facility and three municipal solid waste landfills. For more information, visit www.MWSinc.com. This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve certain risks and uncertainties. The actual results or outcomes of Meridian Waste Solutions, Inc. may differ materially from those anticipated. Although Meridian Waste Solutions, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any such assumptions could prove to be inaccurate. Therefore, Meridian Waste Solutions, Inc. can provide no assurance that any of the forward-looking statements contained in this press release will prove to be accurate. In light of the significant uncertainties and risks inherent in the forward-looking statements included in this press release, such information should not be regarded as a representation by Meridian Waste Solutions, Inc. that its objectives or plans will be achieved. Included in these uncertainties and risks are, among other things, fluctuations in operating results, general economic conditions, uncertainty regarding the results of certain legal proceedings and competition. Forward-looking statements consist of statements other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "may," "intend," "expect," "will," "anticipate," "estimate" or "continue" or the negatives thereof or other variations thereon or comparable terminology. Because they are forward-looking, such statements should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Meridian Waste Solutions, Inc.'s most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled "Risk Factors." Meridian Waste Solutions, Inc. does not undertake an obligation to update publicly any of its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Property, plant and equipment, at cost net of accumulated depreciation Preferred Series C stock redeemable, cumulative, stated value $100 per share, par value $.001, 67,361 shares authorized, 0 and 35,750 shares issued and outstanding, respectively Preferred Series B stock, par value $.001, 71,210 shares authorized, 0 and 0 issued and outstanding Common stock, par value $.025, 75,000,000 shares authorized, 6,944,244 and 1,712,471 shares issued and 6,932,744 and 1,700,971 shares outstanding, respectively Meridian Waste Solutions, Inc. and Subsidiaries Consolidated Statements of Operations Unrealized gain (loss) on change in fair value of derivative liability Deemed dividend related to beneficial conversion feature and accretion of a discount on Series C Preferred Stock Meridian Waste Solutions, Inc. and Subsidiaries Consolidated Statements of Cash Flows Adjustments to reconcile net loss to net cash used in operating activities: Stock and Options issued to employees as incentive compensation Changes in working capital items net of acquisitions: Proceeds from sale of property, plant and equipment Proceeds from issuance of common stock, net of fees Proceeds from issuance of Series C Preferred Stock, net of placement fees of $79,688 Common stock issued for consideration in an acquisition Retirement of Preferred Stock C and related top off provision through the issuance of Common Stock (and related derivative liability) Revenue Growth of 46% to $10.9 Million Adjusted EBITDA of $3.2 Million ATLANTA, GA / ACCESSWIRE / May 23, 2017 / Meridian Waste Solutions, Inc. (NASDAQ: MRDN) ("Meridian Waste" or the "Company"), a vertically integrated, non-hazardous solid waste services company, today reported financial and operational results for the three-month period ended March 31, 2017. Key Financial Highlights for First Quarter 2017 Record revenues of $10.9 million, increased 46% compared to the first quarter ended March 31, 2016; primarily due to the acquisition of the CFS Group Organic revenue growth of 9.2% Adjusted EBITDA of $3.2 million; includes a full quarter pro-forma effect of the CFS acquisition Listing on Nasdaq Closed the CFS Group acquisition expanding footprint into Virginia Awarded Contracts with St. Louis County Districts 4 and 6 With the acquisition of the CFS group during the three months ended March 31, 2017, the Company's operations are now managed through two operating segments: Mid-Atlantic region, centered upon the Richmond, VA area Midwest region, centered upon the St. Louis, MO area Meridian Wastes revenue is generated primarily by collection services provided to residential customers, as well as commercial and temporary roll-off customers. With respect to its platform operation in St. Louis, the Company is focused on building in and around this initial marketplace, focusing on bidding for additional municipal contracts in the St. Louis market, as well as pursuing acquisitions in the Midwest to drive this plan. The recent acquisition of the CFS Group demonstrates a key element of Meridian Wastes strategy to create the vertically integrated infrastructure needed to expand its operations, as the Company was able to acquire underutilized assets such as a landfill and integrate these assets into the Company's collection and transfer network to improve the efficiencies and margins of the Company's operations in the market. Meridian Waste continues to evaluate many potential acquisitions both within its existing markets and new geographic areas. Chairman and Chief Executive Officer Jeff Cosman commented, "It was a very busy and productive start to 2017, as we solidified our platform in the St. Louis market by winning new business, entered a new market with potential based on vertical integration in the Richmond, Virginia area with the CFS Group acquisition, and advanced our capital markets strategy by uplisting to NASDAQ. As we continue to execute within our two existing markets, there is plenty of opportunity we are evaluating to further expand nationally. Additionally, we are excited about growth opportunities we have identified with both Meridian Innovations and Meridian Materials." Financial Results for the First Quarter Ended March 31, 2017: For the three months ended March 31, 2017, revenues were $ 10.9 million, a 46% increase from $7.5 million for the three months ended March 31, 2016. Organic revenue growth of 9.2% was driven by additional customers and price increases. Unaudited pro-forma revenue for the three months ended March 31, 2017 as if the acquisition of the CFS Group took place on January 1, 2016 was $13.4 million, which represents 6.9% organic growth as compared to the three months ended March 31, 2016. As revenues continue to grow in existing markets, Meridian Waste plans to increase the rate of this growth by increasing its presence in the commercial and "roll-off" business. Roll-off service is the hauling and disposal of large waste containers (typically between 10 and 40 cubic yards) that are loaded on to and off of the collection vehicle. Management also expects continued growth through additional mergers and acquisitions. Gross profit improved by $0.9 million to $3.9 million in the three months ended March 31, 2017, as compared to a $3.0 million gross profit in the three months ended March 31, 2016. The CFS Groups operating expenses are currently significantly higher than that of the other operating subsidiaries. For the three months ended March 31, 3017, CFS's operating expenses were approximately 74% of revenue, while the Midwest segments operating expenses were approximately 61% of revenue. Management believes there is an opportunity to improve efficiencies of operations at CFS, and would expect its operating margins to improve over time. There are also synergistic opportunities, such as creating density in some of its routes and internalization of its waste, which are also in process. For the three months ended March 31, 2017, adjusted EBITDA was $3.2 million; includes a full quarter pro-forma effect of the CFS acquisition. The following table presents Adjusted EBITDA, a non-GAAP financial measure, and provides a reconciliation of Adjusted EBITDA to the directly comparable GAAP measure reported in the Company's consolidated financial statements: Net loss for the three months ended March 31, 2017 decreased by $ 3.4 million to $3.0 million or $0.58 per share, as compared to $6.4 million or $5.93 per share in the three months ended March 31, 2016. We make reference to "Adjusted EBITDA," a measure of financial performance not calculated in accordance with accounting principles generally accepted in the United States ("GAAP"). Management has included Adjusted EBITDA because it believes that investors may find it useful to review our financial results as adjusted to exclude items as determined by management. Reconciliations of this non-GAAP financial measure to the most directly comparable GAAP financial measure, net loss, to the extent available without unreasonable effort, are set forth below. The Company defines Adjusted EBITDA as earnings or (loss) from continuing operations before the items noted in the table on page 2. Management believes Adjusted EBITDA provides a meaningful representation of our operating performance that provides useful information to investors regarding our financial condition and results of operations. Adjusted EBITDA is commonly used by financial analysts and others to measure operating performance. Furthermore, management believes that this non-GAAP financial measure may provide investors with additional meaningful comparisons between current results and results of prior periods as they are expected to be reflective of our core ongoing business. However, while we consider Adjusted EBITDA to be an important measure of operating performance, Adjusted EBITDA and other non-GAAP financial measures have limitations, and investors should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. Further, Adjusted EBITDA, as we define it, may not be comparable to EBITDA, or similarly titled measures, as defined by other companies. Meridian Waste Solutions, Inc. (NASDAQ: MRDN) is a company defined by our commitment to servicing our customers with unwavering respect, fairness and care. We are focused on finding and implementing solutions to solid waste needs and challenges within the industry and for our customers. Meridian Waste's core business is centered on residential and commercial waste collection and disposal but it also includes a fundamental objective to seek rewarding environmental solutions through innovation. Currently, the company operates in St. Louis, Missouri and Richmond, Virginia servicing over 113,000 residential, commercial, industrial and governmental customers. In addition to a fleet of commercial, residential and roll off trucks, the Company operates four transfer stations, one recycling facility and three municipal solid waste landfills. For more information, visit www.MWSinc.com. This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve certain risks and uncertainties. The actual results or outcomes of Meridian Waste Solutions, Inc. may differ materially from those anticipated. Although Meridian Waste Solutions, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any such assumptions could prove to be inaccurate. Therefore, Meridian Waste Solutions, Inc. can provide no assurance that any of the forward-looking statements contained in this press release will prove to be accurate. In light of the significant uncertainties and risks inherent in the forward-looking statements included in this press release, such information should not be regarded as a representation by Meridian Waste Solutions, Inc. that its objectives or plans will be achieved. Included in these uncertainties and risks are, among other things, fluctuations in operating results, general economic conditions, uncertainty regarding the results of certain legal proceedings and competition. Forward-looking statements consist of statements other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "may," "intend," "expect," "will," "anticipate," "estimate" or "continue" or the negatives thereof or other variations thereon or comparable terminology. Because they are forward-looking, such statements should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Meridian Waste Solutions, Inc.'s most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled "Risk Factors." Meridian Waste Solutions, Inc. does not undertake an obligation to update publicly any of its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Property, plant and equipment, at cost net of accumulated depreciation Preferred Series C stock redeemable, cumulative, stated value $100 per share, par value $.001, 67,361 shares authorized, 0 and 35,750 shares issued and outstanding, respectively Preferred Series B stock, par value $.001, 71,210 shares authorized, 0 and 0 issued and outstanding Common stock, par value $.025, 75,000,000 shares authorized, 6,944,244 and 1,712,471 shares issued and 6,932,744 and 1,700,971 shares outstanding, respectively Meridian Waste Solutions, Inc. and Subsidiaries Consolidated Statements of Operations Unrealized gain (loss) on change in fair value of derivative liability Deemed dividend related to beneficial conversion feature and accretion of a discount on Series C Preferred Stock Meridian Waste Solutions, Inc. and Subsidiaries Consolidated Statements of Cash Flows Adjustments to reconcile net loss to net cash used in operating activities: Stock and Options issued to employees as incentive compensation Changes in working capital items net of acquisitions: Proceeds from sale of property, plant and equipment Proceeds from issuance of common stock, net of fees Proceeds from issuance of Series C Preferred Stock, net of placement fees of $79,688 Common stock issued for consideration in an acquisition Retirement of Preferred Stock C and related top off provision through the issuance of Common Stock (and related derivative liability)


GREENEVILLE, Tenn.--(BUSINESS WIRE)--Forward Air Corporation (NASDAQ:FWRD) today announced that on Thursday, June 1, 2017 it will participate in the 2017 KeyBanc Capital Markets’ Industrial, Automotive and Transportation Conference at the InterContinental Hotel in Boston, MA. This conference is not being recorded. Forward Air Corporation’s (“the Company”, “we”, “our”) services are classified into four principal reportable segments: Expedited LTL, Truckload Premium Services (“TLS”), Intermodal and Pool Distribution. In our Expedited LTL segment, we provide time-definite transportation services to the North American deferred air freight market. Our Expedited LTL service operates a comprehensive national network for the time-definite surface transportation of expedited ground freight. The Expedited LTL service offers customers local pick-up and delivery and scheduled surface transportation of cargo as a cost effective, reliable alternative to air transportation. Expedited LTL’s other services include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling. The Expedited LTL segment primarily provides its transportation services through a network of terminals located at or near airports in the United States and Canada. In our TLS segment, we provide expedited truckload brokerage, dedicated fleet services and maximum security and temperature-controlled logistics services. We are able to expedite this service by utilizing a dedicated fleet of team owner operators, some team company drivers as well as third party transportation providers. The TLS segment provides full truckload service in the United States and Canada. In our Intermodal segment, we provide container and intermodal drayage services primarily within the Midwest region of the United States. Drayage is essentially the first and last mile of the movement of an intermodal container. We are providing this service both to and from ports and rail heads. Our Intermodal segment also provides dedicated contract and Container Freight Station (“CFS”) warehouse and handling services. In our Pool Distribution segment, we provide pool distribution services throughout the Mid-Atlantic, Southeast, Midwest and Southwest continental United States. Pool Distribution involves managing high-frequency handling and distribution of time-sensitive product to numerous destinations in specific geographic regions. Our primary customers for this service are regional and nationwide distributors and retailers, such as mall, strip mall and outlet based retail chains. This press release may contain statements that might be considered as forward-looking statements or predictions of future operations. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties. Actual events may differ from these expectations as specified from time to time in filings with the Securities and Exchange Commission. We assume no duty to update these statements as of any future date.


News Article | May 23, 2017
Site: www.accesswire.com

Revenue Growth of 46% to $10.9 Million Adjusted EBITDA of $3.2 Million ATLANTA, GA / ACCESSWIRE / May 23, 2017 / Meridian Waste Solutions, Inc. (NASDAQ: MRDN) ("Meridian Waste" or the "Company"), a vertically integrated, non-hazardous solid waste services company, today reported financial and operational results for the three-month period ended March 31, 2017. Key Financial Highlights for First Quarter 2017 With the acquisition of the CFS group during the three months ended March 31, 2017, the Company's operations are now managed through two operating segments: Meridian Wastes revenue is generated primarily by collection services provided to residential customers, as well as commercial and temporary roll-off customers. With respect to its platform operation in St. Louis, the Company is focused on building in and around this initial marketplace, focusing on bidding for additional municipal contracts in the St. Louis market, as well as pursuing acquisitions in the Midwest to drive this plan. The recent acquisition of the CFS Group demonstrates a key element of Meridian Wastes strategy to create the vertically integrated infrastructure needed to expand its operations, as the Company was able to acquire underutilized assets such as a landfill and integrate these assets into the Company's collection and transfer network to improve the efficiencies and margins of the Company's operations in the market. Meridian Waste continues to evaluate many potential acquisitions both within its existing markets and new geographic areas. Chairman and Chief Executive Officer Jeff Cosman commented, "It was a very busy and productive start to 2017, as we solidified our platform in the St. Louis market by winning new business, entered a new market with potential based on vertical integration in the Richmond, Virginia area with the CFS Group acquisition, and advanced our capital markets strategy by uplisting to NASDAQ. As we continue to execute within our two existing markets, there is plenty of opportunity we are evaluating to further expand nationally. Additionally, we are excited about growth opportunities we have identified with both Meridian Innovations and Meridian Materials." Financial Results for the First Quarter Ended March 31, 2017: For the three months ended March 31, 2017, revenues were $ 10.9 million, a 46% increase from $7.5 million for the three months ended March 31, 2016. Organic revenue growth of 9.2% was driven by additional customers and price increases. Unaudited pro-forma revenue for the three months ended March 31, 2017 as if the acquisition of the CFS Group took place on January 1, 2016 was $13.4 million, which represents 6.9% organic growth as compared to the three months ended March 31, 2016. As revenues continue to grow in existing markets, Meridian Waste plans to increase the rate of this growth by increasing its presence in the commercial and "roll-off" business. Roll-off service is the hauling and disposal of large waste containers (typically between 10 and 40 cubic yards) that are loaded on to and off of the collection vehicle. Management also expects continued growth through additional mergers and acquisitions. Gross profit improved by $0.9 million to $3.9 million in the three months ended March 31, 2017, as compared to a $3.0 million gross profit in the three months ended March 31, 2016. The CFS Groups operating expenses are currently significantly higher than that of the other operating subsidiaries. For the three months ended March 31, 3017, CFS's operating expenses were approximately 74% of revenue, while the Midwest segments operating expenses were approximately 61% of revenue. Management believes there is an opportunity to improve efficiencies of operations at CFS, and would expect its operating margins to improve over time. There are also synergistic opportunities, such as creating density in some of its routes and internalization of its waste, which are also in process. For the three months ended March 31, 2017, adjusted EBITDA was $3.2 million; includes a full quarter pro-forma effect of the CFS acquisition. The following table presents Adjusted EBITDA, a non-GAAP financial measure, and provides a reconciliation of Adjusted EBITDA to the directly comparable GAAP measure reported in the Company's consolidated financial statements: Net loss for the three months ended March 31, 2017 decreased by $ 3.4 million to $3.0 million or $0.58 per share, as compared to $6.4 million or $5.93 per share in the three months ended March 31, 2016. We make reference to "Adjusted EBITDA," a measure of financial performance not calculated in accordance with accounting principles generally accepted in the United States ("GAAP"). Management has included Adjusted EBITDA because it believes that investors may find it useful to review our financial results as adjusted to exclude items as determined by management. Reconciliations of this non-GAAP financial measure to the most directly comparable GAAP financial measure, net loss, to the extent available without unreasonable effort, are set forth below. The Company defines Adjusted EBITDA as earnings or (loss) from continuing operations before the items noted in the table on page 2. Management believes Adjusted EBITDA provides a meaningful representation of our operating performance that provides useful information to investors regarding our financial condition and results of operations. Adjusted EBITDA is commonly used by financial analysts and others to measure operating performance. Furthermore, management believes that this non-GAAP financial measure may provide investors with additional meaningful comparisons between current results and results of prior periods as they are expected to be reflective of our core ongoing business. However, while we consider Adjusted EBITDA to be an important measure of operating performance, Adjusted EBITDA and other non-GAAP financial measures have limitations, and investors should not consider them in isolation or as a substitute for analysis of our results as reported under GAAP. Further, Adjusted EBITDA, as we define it, may not be comparable to EBITDA, or similarly titled measures, as defined by other companies. Meridian Waste Solutions, Inc. (NASDAQ: MRDN) is a company defined by our commitment to servicing our customers with unwavering respect, fairness and care. We are focused on finding and implementing solutions to solid waste needs and challenges within the industry and for our customers. Meridian Waste's core business is centered on residential and commercial waste collection and disposal but it also includes a fundamental objective to seek rewarding environmental solutions through innovation. Currently, the company operates in St. Louis, Missouri and Richmond, Virginia servicing over 113,000 residential, commercial, industrial and governmental customers. In addition to a fleet of commercial, residential and roll off trucks, the Company operates four transfer stations, one recycling facility and three municipal solid waste landfills. For more information, visit www.MWSinc.com. This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve certain risks and uncertainties. The actual results or outcomes of Meridian Waste Solutions, Inc. may differ materially from those anticipated. Although Meridian Waste Solutions, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any such assumptions could prove to be inaccurate. Therefore, Meridian Waste Solutions, Inc. can provide no assurance that any of the forward-looking statements contained in this press release will prove to be accurate. In light of the significant uncertainties and risks inherent in the forward-looking statements included in this press release, such information should not be regarded as a representation by Meridian Waste Solutions, Inc. that its objectives or plans will be achieved. Included in these uncertainties and risks are, among other things, fluctuations in operating results, general economic conditions, uncertainty regarding the results of certain legal proceedings and competition. Forward-looking statements consist of statements other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "may," "intend," "expect," "will," "anticipate," "estimate" or "continue" or the negatives thereof or other variations thereon or comparable terminology. Because they are forward-looking, such statements should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Meridian Waste Solutions, Inc.'s most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled "Risk Factors." Meridian Waste Solutions, Inc. does not undertake an obligation to update publicly any of its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.


News Article | May 25, 2017
Site: globenewswire.com

LAFOX, Ill., May 25, 2017 (GLOBE NEWSWIRE) -- Richardson Electronics, Ltd. (NASDAQ:RELL) today announced the sale of its picture archiving and communication systems (“PACS”) Display business, including the Image Systems brand, to Double Black Imaging. The Image Systems brand of diagnostic and clinical imaging displays has been recognized as an industry leading display brand for over 25 years.  The Image Systems product portfolio includes 2MP, 3MP, 5MP, and 6MP color and grayscale displays. Included in the sale is Image Systems proprietary calibration software, known as CFS, which is designed to simplify the conformance and calibration of all Image Systems diagnostic and clinical use displays. This ensures DICOM® compliance and proper calibration throughout their life-cycle. Double Black Imaging is a well-known, industry leading provider of PACS displays for the diagnostic and clinical display market. Double Black Imaging was launched in July of 2002.The company is privately held by the Lloyd family in Colorado and Minnesota. “Double Black Imaging shares many of the same values as Richardson Electronics including our objective to help lower healthcare costs.  We believe the combination of these two PACS display businesses creates a stronger competitive environment and will be good for our diagnostic display customers.  At the same time, this sale allows Richardson Healthcare to focus on its key initiative to expand our line of CT and MRI tubes and high value replacement parts for the diagnostic imaging market,” said Edward J. Richardson, chairman and CEO of Richardson Electronics, Ltd. Richardson Electronics, Ltd. is a leading global provider of engineered solutions, power grid and microwave tubes and related consumables; power conversion and RF and microwave components, flat panel detector solutions and replacement parts for diagnostic imaging equipment; and customized display solutions.  We serve customers in the alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The Company’s strategy is to provide specialized technical expertise and “engineered solutions” based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com. Richardson Electronics common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL. This release includes certain “forward-looking” statements as defined by the Securities and Exchange Commission. Statements in this press release regarding the Company’s business which are not historical facts represent “forward-looking” statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Item 1A, “Risk Factors” in the Company’s 2016 Annual Report on Form 10-K. The Company assumes no responsibility to update the forward-looking statements in this release as a result of new information, future events, or otherwise.


News Article | May 9, 2017
Site: www.prnewswire.com

"This is truly a historic moment for our company but especially for the entire aviation industry," says Nico Nijenhuis, CEO of Clear Flight Solutions. "We currently operate our Robirds in a variety of places, but taking the step towards full integration within daily operations at an airport is huge. For years, there has been a lot of interest from airports. To now officially start integrating our operations at a major Canadian airport is absolutely fantastic." As part of the integrated suite of services, CFS AERIUM will be providing UAS mapping and inspections services to support EIA's maintenance programs and future economic development efforts. These operations will continue from the flight missions that have been diligently conducted prior to this release. The missions were completed to satisfy Safety and Hazard Identification Risk Assessments requirements in addition to demonstrating competency. UAS missions have been conducted under tight supervision within 400m of active runways. CFS AERIUM will continue working towards full integration into airside operations in a professional, safe, and effective manner. "The Robird was the missing link in our integrated service model," says Jordan Cicoria of AERIUM. "Our relationship with Clear Flight Solutions has created an opportunity to have a positive ecologically-friendly impact on local industries at and surrounding the airport. In a world so focused on innovation Edmonton International Airport is an industry front runner and we are proud to have a partnership with Clear Flight Solutions that allows us to actually translate innovation into value," says Tim Bibby of AERIUM. Edmonton International Airport is Canada's fifth-busiest airport by passenger traffic and the largest major Canadian airport by land area. It is a self-funded, not-for-profit corporation whose mandate is to drive economic prosperity for the Edmonton Metro Region. Historically, EIA has been an early-adopter of promising technologies that can add economic value. It has always taken great care to ensure that technology is implemented strategically and safely. "EIA is excited to trial this new technology. We will ensure that all of the airports regulatory requirements are met as part of our Safety Management System, including risk assessments etc. to ensure that the testing is completed in a safe manner," says Steve Rumley, VP of Infrastructure at EIA. EIA also houses the Alberta Aerospace and Technology Center ("AATC"). Since 2015, the AATC has been focused on the development and attraction of Aerospace and Technology companies to Alberta. In 2016, the AATC joined up with AERIUM to focus on the growth and development of UAV technologies in Alberta. "The partnership between AERIUM Analytics and Clear Flight Solutions is exactly the types of companies and solutions we look to foster under the Alberta Aerospace and Technology Center.  We look forward to supporting and promoting this incredible integration of UAS services into airport operations around North America." said Myron Keehn, VP of Commercial Development at EIA. Clear Flight Solutions is a Dutch company combining expert knowledge of unmanned aerial vehicles with extensive expertise in the ecological domain. Whether the situation requires a robotic bird of prey or a stable multicopter, the Company provides a working solution. With the Robirds, flying on unique patented flapping wing technology, the Company offers unmatched effectiveness in the field of bird control. Clear Flight Solutions also offers unique platforms for wildlife observation and protection, safety and surveillance, and surveying and mapping. After winning the UVS International Innovation Award in 2011, the Company was founded in 2012 as a spin-off of the University of Twente. Clear Flight Solutions has obtained a $1.7 million investment from the Cottonwood Euro Technology Fund early 2015. The Company was elected Startup of the Year in the Twente region in 2015 and has recently been awarded with the euRobotics Technology Transfer Award, the ASME Young Technology Award, as well as the first ever EU Drone Award for best drone-based solution. For further information about our services please visit http://www.clearflightsolutions.com AERIUM Analytics (AERIUM) is a Canadian 'UAV-As-A-Service' provider with a strong focus on data. AERIUM's value lies in its ability to build an integrated service model offering UAV flight services, data processing, and enhanced data visualization. This model creates an alignment with clients and builds value from exploring UAV technology. As the world embraces UAV technology, AERIUM will be at the forefront of this next technological wave. Our mission is to inspire innovation, transform data, and realize opportunity in the world around us. For further information about our services please visit http://www.aeriumanalytics.com EIA offers non-stop connections to 60 destinations across Canada, the US, Mexico, the Caribbean and Europe. EIA is a major economic driver, with an economic output of over $2.2 billion, supporting over 12,600 jobs. For further information about Edminton International Airport please visit http://www.flyeia.com The AATC is a joint venture founded by Canadian Helicopters (an HNZ company), Canadian North, Edmonton Economic Development Corporation (EEDC), the Government of Alberta and EIA. As part of AATC, Canadian North operates a 737 training simulator in the airport's Cargo Village, HNZ Topflight operates a helicopter training simulator in the main terminal building and the Alberta Motor Transport Association (AMTA) will begin construction of a new educational facility in the north part of EIA. The official contract signing will take place during AUVSI Xponential in Dallas, Texas. There will be an opportunity for the press to ask questions during the accompanying press conference. This will take place Tuesday May 9th in the Drone Stars Club in Dallas, Texas. The press conference will start at 12.00, noon, local Dallas time (UTC -5). Access to the Drone Stars Club is limited to people registered as press to AUVSI Xponential and persons individually invited to the Drone Stars Club. An invitation can be obtained by registering through sending an e-mail to press@clearflightsolutions.com. More details can be found here: http://xponential.vporoom.com/AERIUMAnalytics-ClearFlightSolutions The address of the Drone Stars Club is: To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/robird-and-integrated-drone-solutions-deployed-at-major-international-airport-300453338.html


News Article | May 9, 2017
Site: www.prweb.com

City Floor Supply (CFS), the nation’s leading hardwood flooring distributor, will offer complimentary training on the Rubio Monocot Designer Oil System on May 25th at their North American Headquarters in King of Prussia, Pennsylvania. Attendees will receive samples and a variety of other free products. Click here to register. Allan Nery from Rubio Monocoat will be onsite to educate contractors on a wide range of Rubio Monocoat products and how to apply them. Hardwood floor contractors will have an opportunity to work directly with a variety of Rubio Monocoat products including Pre-Color Easy, Oil Plus 2C, and Rubio Monocoat’s newest offering– LED Oil curing oils. Contractors will also learn how achieve unique and personalized effects with Rubio’s reactive stains. Care and maintenance techniques will also be covered. According to Mike Glavin, Founder, “I can’t begin to tell you the demand for this product line and the look that it provides. I encourage all hardwood floor contractors to familiarize themselves with this innovative product, as I‘m confident it will help them increase sales and satisfy more customers!” For more information, or to register for the Rubio Monocoat training at CFS on May 25th from 9:00 to 4:00pm, click here or call 800-737-1786. About City Floor Supply (CFS) City Floor Supply (CFS) is a leading provider of unfinished and prefinished hardwood flooring and accessories including stains, finishes, abrasives, flooring tools, and sanding equipment. Family owned and operated, CFS has been serving hardwood flooring contractors for more than 25 years and provides the expertise needed to install and maintain hardwood floors. The company offers all the top name manufactures including, Aacer, Century, Norton, Lagler, 3M, Clarke, Bona, Basic, Primatech, Bostick, and more. The company’s in-house resources include a top-ranked Machine Repair Center, Rental Center, In-house Chemist, and Gym Floor and Wood Floor Consultants. CFS educates customers via personalized service, online training materials, videos, and free events. Visit the CFS showroom in King of Prussia, PA or shop online at http://www.cityfloorsupply.com. To visit CFS on Facebook, click HERE, or you can follow the company on Twitter at @CityFloorSupply. For product information and training videos, visit the company’s YouTube channel or Blog. Visit the company’s recently launched subsidiary at http://www.wideplankfloorsupply.com. For media inquiries, contact Caran Baxter at caran.baxter(at)cityfloorsupply(dot)com or call 610-940-5757. About Rubio Monocoat Rubio Monocoat is a penetrating oil system that protects and colors wood in a single coat, and cures within 48 hours. Monocoat all-natural oil wood floor finishes are plant-based, VOC-free and completely non-toxic. Available in clear finish and more than 40 color finishes, all apply evenly in a single coating and offer extraordinary durability. All Monocoat finishes are easily maintained, and provide a subtle lustre that reveals and complements, rather than covers, the natural grain and patina of the wood.


News Article | May 9, 2017
Site: www.businesswire.com

CHICAGO--(BUSINESS WIRE)--Wind Point Partners announced today that St. George Logistics (“STG”) has acquired the Extra Express (“Extra”) division of Dicom Transportation Group (“Dicom”). The acquisition allows STG to complement its full array of drayage, warehousing, container freight station (“CFS”), and intermodal transportation capabilities with comprehensive solutions for last mile delivery. STG is North America’s largest provider of outsourced CFS services and a leading provider of value-added warehousing and distribution services. Dicom is one of the largest providers of regional, expedited ground transportation services in North America. Both companies are majority-owned by Wind Point. Founded in 1982, the Extra Express division of Dicom provides comprehensive warehousing and related delivery services to blue-chip accounts throughout California. Extra operates four warehouse facilities and maintains access to a network of more than 300 delivery vehicles. STG plans to leverage Extra’s capabilities to introduce local last mile delivery services across its network, which includes 32 facilities totaling over five million square feet of space. STG will launch last mile delivery services in California in May 2017 and plans to establish last mile services at other port and inland facilities later this year. Wind Point acquired STG in July 2016 in partnership with logistics executives Chris Jamroz and Hessel Verhage. Extra is STG’s fourth add-on acquisition since Wind Point established the platform ten months ago. “The last mile delivery segment is a critical component of the import supply chain and our customers spend over $100 million annually on third party transportation providers who visit our facilities, pick up products, and make individual deliveries to the final recipient,” said Jamroz. “The acquisition of Extra will allow us to relieve our customers of a substantial operational burden by offering a closed-loop solution that is faster, cheaper, and more technologically integrated with our other services.” Konrad Salaber, Principal with Wind Point, commented, “This is an exciting transaction for both STG and Dicom. STG will add last mile as a critical component to its full line of import/export services, which was identified as a core strategic priority at the time of our acquisition of STG. Dicom, meanwhile, has the opportunity to focus its resources on its core footprint, which has emerged as one of the largest regional ground transportation networks in North America.” Wind Point acquired Dicom in February 2014 when the company operated exclusively in the Canadian provinces of Quebec and Ontario. Through a series of seven acquisitions and a robust organic growth strategy, Dicom expanded its footprint in Eastern Canada and extended its network into the Eastern and Midwestern United States. Dicom now operates one of North America’s largest regional ground transportation networks and generates ~50% of its sales in the eastern half of Canada, ~45% of its sales in the eastern half of the U.S., and ~5% of its sales in California. Scott Dobak, CEO of Dicom, stated, “Extra is an exceptional business with an impressive track record of growth. However, given Dicom’s success in establishing one of the continent’s leading regional ground networks in the eastern half of North America, Extra’s operations in California have become non-core to our strategy. We are thrilled that the Extra management team will have the opportunity to fulfill its growth ambitions as part of the STG platform.” Raymond James served as the exclusive financial advisor to STG. Barclays served as the exclusive financial advisor to Dicom. Antares Capital, LStar Capital, and NewStar Financial provided financing for the transaction. Wind Point Partners is a private equity investment firm that has raised over $3 billion in commitments since 1984. Wind Point focuses on partnering with top caliber management teams to acquire middle market businesses where it can establish a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.com. St. George Logistics offers a wide range of value-added logistics services including ocean and air CFS, contract warehousing, distribution, e-commerce fulfillment and transportation services. St. George operates the largest network of independent CFS facilities in North America with very close proximity to all major ports and metropolitan areas for ocean or air cargo. St. George is also a leading provider of a wide range of additional logistics services including distribution, warehousing and reliable transportation within the U.S. Additional information about St. George is available at www.stgusa.com. Dicom is an expedited transportation and logistics company headquartered in Montreal with facilities throughout the United States and Canada. Dicom provides overnight transportation, same-day delivery, final mile distribution, and transportation management services for parcel, less-than-truckload and full truckload shipments. Dicom operates one of the largest regional ground transportation systems in North America, managing a network of approximately 2,000 delivery vehicles and 55 facilities. Additional information about Dicom is available at www.dicom.com.


News Article | May 11, 2017
Site: www.prlog.org

Friday 12th May 2017 is ME / CFS awareness day. My name is Andrew Smith. As a specialist in ME. CFS. Fibromyalgia Recovery, I take the guess work out of your return to health.

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