Costa Mesa, CA, United States
Costa Mesa, CA, United States

Time filter

Source Type

News Article | May 22, 2017
Site: globenewswire.com

Third Quarter Total Net Revenues increased 12.4% year-over-year to a Q3 Record of $17.9 million Third Quarter Net Income of $0.7 million and Diluted EPS of $0.06 Third Quarter Adjusted EBITDA of $2.3 million - Conference Call Scheduled for Today at 9 a.m. ET (6 a.m. PT) - CALABASAS, Calif., May 22, 2017 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a leading global provider of enterprise application solutions and business services to the finance and leasing industry, today announced financial results for the fiscal 2017 third quarter ended March 31, 2017. Total net revenues for the third quarter of fiscal 2017 were $17.9 million, an increase of 12.4% from the prior year period. Gross profit for the third quarter of fiscal 2017 was $9.0 million, or 50.1% of net revenues, an increase of 21.7% from $7.4 million, or 46.3% of net revenues, in the third quarter of fiscal 2016. Net income attributable to NETSOL for the third quarter of fiscal 2017 was $0.7 million, or $0.06 per diluted share, compared with $0.8 million, or $0.08 per diluted share, in the third quarter of fiscal 2016. Adjusted EBITDA1 for the third quarter of fiscal 2017 was $2.3 million, representing Adjusted EBITDA per diluted share of $0.21, compared with Adjusted EBITDA of $2.3 million, or Adjusted EBITDA per diluted share of $0.21, in the third quarter of fiscal 2016. At March 31, 2017, cash and cash equivalents were $8.5 million, compared with $11.6 million at June 30, 2016 and $11.9 million at March 31, 2016. [1] The reconciliation of Adjusted EBITDA to net income, the most comparable financial measure based upon GAAP, as well as a further explanation of adjusted EBITDA, is included in the financial tables in Schedule 4 of this press release. Beginning with the fourth quarter of fiscal 2016, NETSOL has revised its calculation of Adjusted EBITDA to exclude the portion of Adjusted EBITDA that is attributable to its subsidiaries that have a minority interest. Management Commentary “We are pleased to deliver solid revenue growth and margin improvement in the fiscal third quarter,” said Najeeb Ghauri, Founder, Chairman and Chief Executive Officer of NETSOL. “We had a strong quarter for NFS Ascent license and services revenue, and for the first time, Ascent revenue exceeded fees from our legacy NFS solution suite. Conversely, our legacy NFS-related revenue was lower-than-expected in the fiscal third quarter, driven by a slowdown in new license and services fees as several of our NFS clients are beginning to explore with us a migration path to our next-generation NFS Ascent platform. Looking ahead, we view this inflection point in our revenue growth mix as a long-term positive for NETSOL and believe we are well-positioned to continue to build off this solid foundation. Nevertheless, we expect this tactical shift in our clients’ demand will continue to impact our results in the fourth quarter. In addition, the non-conversion of some new client contracts also impacted our fiscal third quarter results. We have reduced our fiscal year 2017 guidance to reflect these factors. Despite our tempered outlook for fiscal 2017, the strong fundamental drivers of our business remain unchanged, and we remain very optimistic about NETSOL’s future growth potential. Finally, I am pleased with the progress we have made on our recently announced costs reduction initiatives, as this helped us to improve our bottom-line in the quarter. We are on track to deliver $1.5 million of cost savings in the second half of fiscal 2017 and $4 million on an annualized basis beginning in fiscal 2018.” Naeem Ghauri, President of NETSOL Global Sales and Marketing, provided additional color on the Company’s sales pipeline, “We have a robust global pipeline of new business opportunities, including our NFS Ascent pipeline which continues to expand across the Americas, Europe and Asia Pacific. Ascent has become referenceable for new clients as several of the implementations are now live and being used by thousands of users across our APAC region. Our pipeline includes both upgrades from legacy NFS to NFS Ascent as well as organic opportunities from new prospects. Many of these potential opportunities represent multi-country, multi-million dollar implementations.” Naeem Ghauri continued, “While we are highly encouraged by the growth of our NFS Ascent pipeline, we are also experiencing elongated sales cycles that require in-depth evaluation and stringent procurement processes within tier-one organizations. However, we have extensive experience working within these processes, and expect to come out on the other end with positive outcomes.” Fiscal 2017 Financial Outlook The Company has revised its financial outlook for the fiscal year ending June 30, 2017 as follows: Revision to Prior Period Financial Statements During the preparation of the Company’s Form 10-Q for the nine months ended March 31, 2017, misstatements were identified regarding the timing of revenue recognition for the complex 12-country NFS Ascent contract. NETSOL will amend its financial statements for the quarters ended September 30, 2015, December 31, 2015, September 30, 2016 and December 31, 2016. The cumulative impact to the Company’s financial results from the amendment is immaterial for the fiscal year ended June 30, 2016 and the nine months ended March 31, 2017. The Company has disclosed further in detail in its Form 10-Q for the period ended March 31, 2017, which will be filed today with the Securities Exchange Commission. A replay will be available one hour after the end of the conference call and can be accessed by dialing 1-877-344-7529 (domestic) or 1-412-317-0088 (international); the replay access code is 10106843. The replay will be available through Monday, May 29, 2017. A live webcast will be available online within the investor relations section of NETSOL’s website at http://www.netsoltech.com. A replay of the webcast will be available one hour following conclusion of the live call, and will be archived for one year. About NetSol Technologies NetSol Technologies, Inc. (NASDAQ:NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and financing industry. The Company’s suite of applications are backed by 40 years of domain expertise and supported by a committed team of more than 1,500 professionals placed in eight strategically located support and delivery centers throughout the world. NFSTM, LeasePakTM, LeaseSoft or NFS AscentTM – help companies transform their finance and leasing operations, providing a fully automated asset-based finance solution covering the complete leasing and finance lifecycle. Investors can receive news releases and invitations to special events by accessing our online signup form at http://ir.netsoltech.com/email-alerts. Certain statements in this press release are forward-looking in nature, including, but not limited to, expected net revenue, EBITDA, and adjusted EPS amounts for the full fiscal year and the growing market need for NFS Ascent, and accordingly, are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words “expects,” “anticipates,” variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based. From time to time, NETSOL may refer to Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-based Compensation) and “non-GAAP adjusted EBITDA per diluted share or Adjusted EBITDA per diluted share” in its conference calls and discussions with investors and analysts in connection with the company’s reported historical financial results.  Adjusted EBITDA does not represent cash flows from operations as defined by generally accepted accounting principles (“GAAP”), is not derived in accordance with GAAP and should not be considered by the reader as an alternative to net income (the most comparable GAAP financial measure to Adjusted EBITDA).  Non-GAAP adjusted EBITDA per diluted share or Adjusted EBITDA per diluted share is not derived in accordance with GAAP and should not be considered by the reader as an alternative to reported GAAP diluted EPS.  The reconciliation of GAAP and non-GAAP financial measures for the three and nine month periods ended March 31, 2017 and 2016 are included in the above table.  NETSOL’s management believes that Adjusted EBITDA and Adjusted EBITDA per diluted share are helpful as an indicator of the current financial performance of the company. NETSOL also adjusts for non-cash items, such as stock-based compensation as we believe excluding these costs provide a useful metric by which to compare performance from period to period. Management strongly encourages investors to review the company’s consolidated financial statements in their entirety and to not rely on any single financial measure in evaluating the company.


News Article | May 16, 2017
Site: fashionunited.com

The TJX Companies net sales for the first quarter of fiscal 2018 increased 3 percent to 7.8 billion dollars and consolidated comparable store sales increased 1 percent over last year's 7 percent increase. Net income for the quarter was 536 million dollars and diluted earnings per share were 0.82 dollar versus the prior year's 0.76 dollar. Commenting on the first quarter trading, Ernie Herrman, CEO and President of The TJX Companies, stated in a press release, "Comp store sales growth was once again driven by customer traffic. We achieved these results despite the unfavorable weather in parts of the US and Canada compared to last year. The second quarter is off to a solid start and we have excellent liquidity in our inventories.” For the first quarter, the company's consolidated pretax profit margin was 10.7 percent, a 0.2 percentage point decrease compared with the prior year. Gross profit margin was 29 percent, up 0.2 percentage points versus the prior year. The company increased its dividend by 20 percent in the first quarter, marking the 21st consecutive year of dividend increases. During the first quarter ended April 29, 2017, the company increased its store count by 50 stores to a total of 3,862 stores. For the second quarter of fiscal 2018, the company expects diluted earnings per share to be in the range of 0.81 dollar to 0.83 dollar compared to 0.84 dollars last year. This guidance reflects an assumption that the combination of foreign currency and transactional foreign exchange will negatively impact EPS growth by 4 percent and that wage increases will negatively impact EPS growth by an additional 2 percent. This EPS outlook is based upon estimated consolidated comparable store sales growth of 1 percent to 2 percent. For the 53-week fiscal year ending February 3, 2018, the company now expects diluted earnings per share in the range of 3.82 dollars to 3.89 dollars. This represents a 10 percent to 12 percent increase over the prior year's 3.46 dollars. The company's full-year guidance includes an expected benefit of approximately 0.11 dollar per share from the 53rd week in the company's fiscal 2018 calendar. Excluding this benefit, the company expects adjusted diluted earnings per share to be in the range of 3.71 dollars to 3.78 dollars. This would represent a 5 percent to 7 percent increase over the prior year. This guidance reflects an assumption that wage increases will negatively impact EPS growth by 2 percent and that the combination of foreign currency and transactional foreign exchange will negatively impact EPS growth by 1 percent. This EPS outlook is based upon estimated consolidated comparable store sales growth of 1 percent to 2 percent.


News Article | May 15, 2017
Site: www.marketwired.com

WAYNE, PA--(Marketwired - May 15, 2017) - ICTV Brands, Inc. ( : ICTV), ( : ITV), a digitally focused direct response marketing and international branding company focused on the health, wellness and beauty sector, today reported financial results for the three months ended March 31, 2017. Management Commentary: Richard Ransom, President, stated, "I am very pleased with our performance and execution this quarter. Our team has worked tirelessly to integrate a substantial acquisition, of both assets and personnel. The 105% increase in sales from the prior year quarter, with just over two months of having these assets under ICTV's control, is a testament to the readiness of our very talented team to quickly integrate these new assets into ICTV's global sales platform. In addition, expense levels were higher this quarter, due to acquisition related expenses and integration expenses. I fully expect these expenses to level off in the future, and operating margins to expand from current levels. Our balance sheet is the strongest that is has been in years and enables us to operate from a position of strength. Our improved working capital dynamic, fueled by increases in both cash and inventory, positions ICTV to successfully convert this inventory to sales in the coming quarters. Our cash balance provides us tremendous flexibility as we execute on our strategic plan for 2017." Reported Financial Results: First Quarter 2017 Compared to First Quarter 2016: Revenues for the three months ended March 31, 2017 were approximately $7.6 million, compared to approximately $3.7 million for the three months ended March 31, 2016. For the three months ended March 31, 2017, we generated approximately $5.5 million in gross profit, compared to approximately $2.5 million during the three months ended March 31, 2016 as a result of the addition of the no!no!™, Kyrobak™ and Cleartouch™ products acquired in January 2017. Gross profit margin was 72% in the first quarter 2017 compared to 68% in the prior year quarter. The increase in gross margin percentage is mainly attributable to changes in product mix as we bring additional sales to market both domestically and internationally. Total operating expenses increased to approximately $5.9 million from approximately $2.6 million during the first quarter of 2016. The largest factor is an increase in media expenditures. Media expenditures were approximately $1.6 million and $0.8 million for the three months ended March 31, 2017 and 2016, respectively. In addition, internet marketing expense which increased to approximately $0.8 million for the three months ended March 31, 2017 from approximately $0.3 million during the three months ended March 31, 2016, as well as payroll expenses increased to approximately $0.7 million during the three months ended March 31, 2017 from approximately $0.4 million as a result of additional employees through the acquisition and consulting expenses increased to approximately $0.2 million during the three months ended March 31, 2017 compared to approximately $64,000 during the three months ended March 31, 2016. Finally, total share based compensation expenses increased to approximately $0.4 million during the three months ended March 31, 2017, from approximately $0.1 million for the prior year quarter. Net loss for the first quarter was approximately ($368,000), compared to a net loss of approximately ($89,000) in the prior year quarter. The resulting EPS is ($0.01), as compared to ($0.00) in the comparable quarter a year earlier. Adjusted earnings before interest, taxes, depreciation, and amortization (Adjusted EBITDA) was approximately $323,000 as compared to loss of approximately $111,000. As of March 31, 2017, the Company had approximately $4.9 million in cash and cash equivalents and approximately $7.0 million in working capital compared to approximately $1.4 million and approximately $1.3 million as of December 31, 2016, respectively. Included in our cash balance of approximately $4.9 million at March 31, 2017, was $1.75 million that was subsequently paid to PhotoMedex in April 2017 to satisfy the cash payment due to PhotoMedex as detailed in the terms of our asset purchase agreement. Additionally, the Company believes that our current cash will be sufficient to meet the anticipated cash needs for working capital for at least the next twelve months. Conference Call ICTV will hold a conference call to discuss the Company's first quarter 2017 results and answer questions on May 16, 2017, beginning at 10:00am EDT. The call will be open to the public and will have a corporate update presented by ICTV's Chairman and Chief Executive Officer, Kelvin Claney, President, Richard Ransom and Chief Financial Officer, Ernest P. Kollias, Jr, followed by a question and answer period. The live conference call can be accessed by dialing (877) 876-9177 or (785) 424-1666. Participants are recommended to dial-in approximately 10 minutes prior to the start of the event. A replay of the call will be available approximately two hours after completion through May 30, 2017. To listen to the replay, dial (800) 839-4906 (domestic) or (402) 220-2684 (international). The conference call transcript will be posted to the Company's corporate website (http://www.ictvbrands.com) for those who are unable to attend the live call. ICTV Brands, Inc. ICTV Brands, Inc. sells primarily health, beauty and wellness products as well as various consumer products through a multi-channel distribution strategy. ICTV utilizes a distinctive marketing strategy and multi-channel distribution model to develop, market and sell products through, including direct response television, or DRTV, digital marketing campaigns, live home shopping, traditional retail and e-commerce market places, and our international third party distributor network. Its products are sold in the North America and are available in over 65 countries. Its products include DermaWand, a skin care device that reduces the appearance of fine lines and wrinkles, and helps improve skin tone and texture, DermaVital, a professional quality skin care line that effects superior hydration, the CoralActives brand of acne treatment and skin cleansing products, and Derma Brilliance, a sonic exfoliation skin care system which helps reduce visible signs of aging, Jidue, a facial massager device which helps alleviate stress, and Good Planet Super Solution, a multi-use cleaning agent. On January 23, 2017, we acquired several new brands, through the PhotoMedex and Ermis Labs acquisitions and have begun (or, will shortly begin) marketing and selling the following new products; no!no! ® Hair, a home use hair removal device; no!no!® Skin, a home use device that uses light and heat to calm inflammation and kill bacteria in pores to treat acne; no!no! ® Face Trainer, a home use mask that supports a series of facial exercises; no!no!® Glow, a home use device that uses light and heat energy to treat skin; Made Ya Look, a heated eyelash curler; no!no! ® Smooth Skin Care, an array of skin care products developed to work with the devices to improve the treated skin; Kyrobak, a home use device for the treatment of non-specific lower back pain; ClearTouch ®, a home use device for the safe and efficient treatment of nail fungus; and Ermis Labs acne treatment cleansing bars. ICTV Brands, Inc. was founded in 1998 and is headquartered in Wayne, Pennsylvania. For more information on our current initiatives, please visit www.ictvbrands.com. Non-GAAP Financial Information Adjusted EBITDA is defined as income from continuing operations before depreciation, amortization, interest expense, interest income, and stock-based compensation. Adjusted EBITDA is not intended to replace operating income, net income, cash flow or other measures of financial performance reported in accordance with generally accepted accounting principles. Rather, Adjusted EBITDA is an important measure used by management to assess the operating performance of the Company. Adjusted EBITDA as defined here may not be comparable to similarly titled measures reported by other companies due to differences in accounting policies.  The following tables present a reconciliation of the non-GAAP financial measure of Adjusted EBITDA to the GAAP financial measures of net income and net cash provided by operating activities, respectively. Forward-Looking Statements. This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act") (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2016, including but not limited to the discussion under "Risk Factors" therein, which the Company has filed with the SEC and which may be viewed at http://www.sec.gov. See accompanying notes to the condensed consolidated financial statements as filed on www.sec.gov. See accompanying notes to the condensed consolidated financial statements as filed on www.sec.gov. See accompanying notes to the condensed consolidated financial statements as filed on www.sec.gov.


News Article | February 28, 2017
Site: www.businesswire.com

The Board of Directors of Electro Power Systems S.A. (“EPS”) (Paris:EPS), technology pioneer in energy storage systems and microgrids listed on the French-regulated market Euronext Paris (EPS:FP), met on 28 February 2017, under the chairmanship of Massimo Prelz Oltramonti and in the presence of the Statutory Auditors. EPS publishes the preliminary (unaudited) 2016 revenues in accordance with Recommendation dated 17.12.2008 of the Autorité des Marchés Financiers, provides a cash position and the installed base update, and publishes the provisional Financial Calendar for the fiscal year 2017, according to which audited full year financial results are scheduled to be released on 22 March 2017. Preliminary (unaudited) revenues for the financial year ended on 31.12.2016 reached 7.1 million euros, exceeding the guidance of 6.4 to 6.9 million euros updated on 14 November 2016. Sales in Africa, Asia Pacific and Latin America amounted to 51% of reported preliminary revenues, confirming an increased geographical diversification of the installed base, while Europe and North America represented 49% of the sales. Cash in bank accounts on 31.12.2016 reported at 5.5 million euros with a pro-forma cash5 amounting to 8.3 million euros, substantially stable compared to the 8.4 million euros registered in 2015. In addition, EPS has available additional 3.5 million euros short term credit lines to finance the future working capital exposure. Considering the 6.5 million euros medium-long term indebtedness drawn-down in 2016 with an average spread of 3.6%, the preliminary net financial position amounted to -1.0 million euros. After adjusting the cash position, the adjusted net financial position amounts to 1.8 million euros. 1 Backlog means (i) advances invoiced to clients according to the contract subscribed, which will be recognized as revenues in future years; (ii) purchase orders already received as of the date of this press release, and (iii) revenues already contracted or expected to be generated in 2017 and following years based on the agreements currently in place with the customers. 2 System installed in 2016 and under commissioning at 31.12.2016. 3 For recognition of revenues in Technology Partnership Agreements entered into with customers Advance Devices S.p.A. and MGH Systems Ltd, EPS Group has applied IAS 18. In particular, the Group determined that it is acting as a principal in those agreements, due to changes that have arisen on and from 1st January 2016, and that affect the assessment of the indicators provided in IAS 18 (IE § 21). As a result, revenue derived from those agreements is recognised based on a gross amount in 2016, while revenue was recognised based on net amount in 2015. In addition, for some construction contracts concluded by the Italian subsidiaries and EPS, the Group is applying the percentage of completion method in accordance with IAS 11. 4 In FY 2015 EPS Italy revenues and consolidated gross nominal sales amounted to €1.2 million. However EPS decided for FY 2015 to account consolidated IFRS revenues under IAS 18 for €0.4 million. As clarified in the H1 2016 Financial Report, IAS 18 application would not entail the gross-to-net IFRS restatement in 2016 (see footnote 3). 5 The bridge from the €5.5 million cash in bank accounts as at 31.12. 2016, to the €8.3 million pro-forma cash position results from (i) the addition of the €1.4 million capital increase reserved to the former Elvi management, which will take place immediately after the publication of the Registration Document in 2017, (ii) the addition of €0.3 millions of trade working capital and (iii) the addition of €1.1 million of VAT receivables that will be set-off during the first half of 2017. In 2016 EPS installed and had at 31 December 2016 under commissioning Hybrid Energy Storage Systems (HyESS) connected to 26.5 MW microgrids integrated with renewables and energy storage. In the grid-support segment, EPS installed and had under commissioning more than 12 MW. In aggregate, EPS realized 36 large scale projects, including off-grid hybrid systems serving microgrids powered by renewable and energy storage for a total installed power of over 35 MW, in addition to more than 18 MW of grid support systems, for a total capacity output of 47 MWh of systems in 21 countries worldwide, including Africa, Latin America, Asia Pacific and Europe. In particular in the off-grid segment the EPS technology will serve: for in aggregate over 165,000 customers powered by renewables and the EPS hybrid energy storage systems every day. The market will be notified promptly of any changes to the provisional financial calendar below, which is available to the public also on the EPS website (www.electropowersystems.com) in the “Investors” section. EPS operates in the sustainable energy sector, specializing in hybrid-storage solutions and micro-grids that enable intermittent renewable sources to be transformed into a stable power source. Listed on the French-regulated market Euronext, EPS is part of the CAC® Mid & Small and the CAC® All-Tradable indices and has registered office in Paris and research, development and manufacturing in Italy. Thanks to technology covered by 125 patents and applications, combined with more than 10 years of R&D, the Group has developed hybrid energy storage solutions to stabilize electrical grids heavily penetrated by renewable sources in developed countries and, in emerging economies, to power off-grid areas at a lower cost than fossil fuels without the need for any subsidy or incentive scheme. EPS has installed and has under commissioning in aggregate 36 large scale projects, including off-grid hybrid systems powered by renewables and energy storage totalizing over 35 MW of installed power that provides energy to over 165,000 customers every day, in addition to more than 18 MW of grid support systems, for a total capacity output of 47 MWh of systems in 21 countries worldwide, including Europe, Latin America, Asia and Africa.


News Article | February 28, 2017
Site: www.businesswire.com

Le Conseil d’Administration d’Electro Power Systems S.A. (“EPS”) (Paris:EPS), un pionner des solutions de stockage d’énergie et des micro-réseaux, dont les actions sont admises aux négociations sur le marché réglementé français Euronext à Paris (EPS:FP), s’est réuni le 28 février 2017 sous la présidence de Massimo Prelz Oltramonti et en présence des commissaires aux comptes. EPS publie le chiffre d’affaires préliminaire (non-audité) pour 2016 conformément à la recommandation n°2016-05 de l’Autorité des Marchés Financiers, fournit une actualisation de son solde de trésorerie et du parc installé et publie son calendrier de communication financière provisionnel pour l’année 2017, dans lequel la publication des résultats financiers audités est prévue le 22 mars 2017. Les ventes en Afrique, Asie-Pacifique, et Amérique latine représentent 51% du chiffre d’affaires préliminaire, confirmant une plus vaste diversification géographique du parc installé, alors que l’Europe et l’Amérique du nord représentaient 49% des ventes. 1 Le carnet de commandes comprend (i) les acomptes facturés conformément aux accords conclus avec les clients et qui seront comptabilisés en tant que chiffre d’affaires au cours des exercices à venir; (ii) les commandes reçues à la date du présent communiqué de presse ; et (iii) le chiffre d’affaires généré ou attendu pour 2017 et les années suivantes sur le fondement des contrats actuellement en place avec nos clients. 2 Système installé en 2016 et en phase de mise en service au 31 décembre 2016. 3 Pour la comptabilisation du chiffre d’affaires dérivé des accords de partenariat technologique conclus avec Advance Devices S.p.A. et MGH Systems Ltd, le Groupe EPS a appliqué la norme IAS 18. En particulier, le Groupe a déterminé qu’il agissait en qualité de « principal » dans le cadre de ces accords en raison de changements intervenus depuis le 1er janvier 2016 qui ont affecté l’application des indicateurs prévus par la norme IAS 18 (IE §21). En conséquence, le chiffre d’affaires dérivé de ces accords est comptabilisé sur la base du montant brut pour 2016 alors qu’il est comptabilisé sur la base du montant net pour 2015. En outre, pour certains contrats de construction conclus par les filiales italiennes et EPS, le Groupe EPS applique la méthode du pourcentage d’avancement conformément à la norme IAS 11. 4 Au cours de l’exercice 2015, le chiffre d’affaires et les ventes brutes nominales consolidées d’EPS en Italie s’élèvent à 1,2 million d’euros. Toutefois, EPS a décidé pour l’exercice 2015 de comptabiliser le chiffre d’affaires consolidés IFRS pour 0,4 million d’euros au titre de la norme IAS 18. Comme précisé dans le Rapport Financier Semestriel de 2016, l’application de la norme IAS 18 n’entrainera pas le retraitement IFRS des valeurs brutes en valeurs nettes (voir note de bas n°3). 5 Le passage entre les 5,5 million d’euros de liquidités détenues en comptes bancaires au 31 décembre 2016 et, les 8,3 millions d’euros de trésorerie pro-forma, s’effectue grâce à l’ajout (i) des 1,4 million d’euros au titre de l’augmentation de capital réservée aux anciens dirigeants d’Elvi qui aura lieu directement après la publication du document de référence en 2017, (ii) des 0,3 million d’euros de fonds de roulement net et (iii) des 1,1 million d’euros de créances de TVA qui seront compensées au cours du premier semestre 2017. En 2016, EPS a installé et a, en phase de mise en service, des systèmes de stockage d'électricité hybrides (HyESS) connectés à 26,5 MW de micro-réseaux intégrés à des systèmes d'énergie renouvelable et de stockage d'électricité. Dans le segment des systèmes de support au réseau, EPS a installé et a, en phase de mise en service, plus de 12MW. Au total, EPS a réalisé 36 projets à grande échelle, y compris des systèmes hybrides servant des micro-réseaux alimentés par des systèmes de stockage d'électricité et d'énergie renouvelable totalisant plus de 35 MW de puissance installée, en plus de 18 MW de systèmes de support au réseau, représentant une capacité totale de 47 MWh de systèmes dans 21 pays du monde répartis en Europe, en Amérique latine, en Asie-Pacifique et en Afrique. Grâce à une technologie propriétaire protégée par 125 brevets et demandes de brevets et plus de dix ans de recherche et développement, le groupe développe des solutions hybrides pour le stockage d'énergie dans les pays développés pour la stabilisation des réseaux fortement caractérisés par des sources renouvelables intermittentes, et dans les pays émergents pour la production d'énergie hors réseau (off-grid) en micro-réseau à des coûts plus bas que ceux des combustibles fossiles, sans qu'il n'y ait besoin de subventions. EPS a installé et a, en phase de mise en service, 36 projets à grande échelle, y compris des systèmes hybrides hors réseau alimentés par des systèmes de stockage d'électricité et d'énergie renouvelable totalisant plus de 35 MW de puissance installée. Elle fournit de l'énergie à plus de 160 000 clients par jour, en plus de 18 MW de systèmes de support au réseau, représentant une capacité totale de 47 MWh de systèmes dans 21 pays du monde répartis en Europe, en Amérique latine, en Asie-Pacifique et en Afrique.


Patent
EPS Inc | Date: 2014-09-12

A structure is configured to be flat in an unassembled position and to form a three-dimensional structure in an assembled position. The structure includes a plurality of adjacent panels coupled together along fold lines with each panel including a foam core covered on one surface by a flexible skin. The flexible skin is continuous between the adjacent panels that are coupled together for forming a respective fold line for the adjacent panels to be brought together at a right angle to each other along the fold line. The foam core of each panel includes a mitered surface along abutting edges to form a miter joint when adjacent panels are brought together. Slots are formed in the panel cores adjacent to mitered surfaces. Brackets span a miter joint between adjacent panels, holding the spanned miter joint and panels together in a three-dimensional structure.


News Article | November 15, 2016
Site: www.prnewswire.com

PARIGI, November 15, 2016 /PRNewswire/ -- Crescita confermata E 33MW Di microreti in costruzione  Ricavi dei primi 9 mesi a 4 milioni di euro, backlog di ordini in crescita a 5.8 milioni di euro   Forte crescita della pipeline e dimensione media dei potenziali progett...


News Article | December 28, 2016
Site: www.prnewswire.co.uk

Grazie ad una tecnologia proprietaria protetta da 125 brevetti e oltre 10 anni di ricerca e sviluppo, il Gruppo ha sviluppato soluzioni ibride integrate di stoccaggio di energia, per la stabilizzazione delle reti fortemente penetrate da fonti rinnovabili intermittenti, e per la generazione di energia off-grid in microreti ed a costi inferiori nei paesi emergenti. Offre soluzioni a zero impatto ambientale e remunerative su base commerciale senza sussidi. La mission del Gruppo è di diventare l'acceleratore della transizione energetica, tramite il controllo totale dell'intermittenza delle fonti di energia rinnovabile. Grazie al continuo sviluppo delle migliori tecnologie di controllo e modulazione delle fonti rinnovabili - reso possibile dalle tecnologie di accumulo - e alla piattaforma di stoccaggio ad idrogeno e ossigeno esclusiva del Gruppo adatta a fornire lunghe autonomie senza ricorrere al diesel o alla generazione a gas, le tecnologie del Gruppo consentono oggi alle energie rinnovabili di alimentare concretamente, 24h su 24h, intere comunità, in maniera completamente pulita ed a un costo inferiore. Oggi EPS è quotata sul mercato regolamentato francese Euronext, ed è inclusa negli indici CAC® Mid & Small e CAC® All -Tradable: con sede legale a Parigi e ricerca, sviluppo e produzione integralmente in Italia. Il Gruppo ha installato ed ha in corso di installazione complessivamente oltre 10,5 MW di sistemi di stoccaggio connessi in rete, 8.6 MW di centrali ibride off-grid alimentate da rinnovabili e stoccaggio di energia, e 3MW di sistemi ibridi a idrogeno, per un output totale di 46,2 MWh e 22,1 MW in 21 paesi in tutto il mondo, tra cui Europa, Stati Uniti, America Latina, Asia ed Africa.


News Article | February 15, 2017
Site: www.prnewswire.com

PURCHASE, N.Y., Feb. 15, 2017 /PRNewswire/ -- Reported (GAAP) Fourth Quarter and Full-Year 2016 Results Fourth Quarter Full-Year Net revenue change 5.0%...


News Article | November 15, 2016
Site: www.prnewswire.co.uk

Il consiglio di amministrazione di Electro Power Systems S.A. ("EPS", il "Gruppo", EPS:PA) leader tecnologico nei sistemi di stoccaggio di energia, riunitosi oggi a Parigi sotto la presidenza di Massimo Prelz Oltramonti, ha esaminato e approvato i risultati (non sottoposti ad audit) al 30 settembre 2016, e l'aggiornamento della guidance sui ricavi 2016. Tale risultato è attribuibile al percorso di accreditamento e qualificazione che il Gruppo ha intrapreso subito dopo la quotazione nell'aprile 2015 con progetti, installazioni e partnership con i più importanti operatori internazionali nel mondo dell'energia tra cui Enel, Terna, Toshiba e General Electric. Questo progetto rappresenta la prima microrete dotata di sistema fotovoltaico distribuito lungo tutta l'isola in 8 diversi impianti per un totale di 700kWp, 4 gruppi di generazione e cogenerazione per complessivi 3MVA che producono energia termica per l'acqua calda del resort e accumulo da 250kW di potenza che gestisce integralmente la spinning reserve e la stabilità della microrete. "Questa microrete costituisce il passo tecnologico definitivo verso la competitività della generazione di energia off-grid" ha dichiarato Nicola Vaninetti, Vice President di EPS, che ha coordinato la messa in servizio realizzata da Francesco Del Curto e Martino Bosetti. Con riferimento al mercato del Grid Support, EPS ha completato a marzo 2016 la sperimentazione all'interno dei progetti di Terna approvati dal MiSE - nei quali il Gruppo ha partecipato in qualità di sistemista installando un totale di 3MW per Toshiba e General Electric - e superato con successo tutti i test previsti. A partire dal 1 gennaio 2015, la legge francese n. 2014-1662 del 30 dicembre 2014, che recepisce la Direttiva Europea 2013/50 / UE, ha rimosso per le società francesi quotate l'obbligo di comunicare i risultati finanziari trimestrali. Pertanto, il presente comunicato stampa è stato redatto su base volontaria in linea con la politica EPS di fornire al mercato e agli investitori informazioni regolari sulle prestazioni finanziarie e operative del Gruppo e sulle prospettive di business, in linea con la politica di divulgazione seguita dalle altre società del settore energia. I risultati sono presentati con riferimento ai primi nove mesi del 2016 e ai primi nove mesi del 2015. Le informazioni sulla liquidità e sul capitale si riferiscono alla fine dei periodi al 30 settembre 2016 e al 30 settembre 2015. Le informazioni finanziarie contenute nel presente documento sono state redatte in conformità con i criteri di rilevazione e valutazione stabiliti dagli International Financial Reporting Standards (IFRS) emanati dall'International Accounting Standards Board (IASB) e adottati dalla Commissione Europea secondo la procedura di cui all'articolo 6, del regolamento europeo (CE) 1606/2002 del Parlamento Europeo e del Consiglio del 19 luglio 2002. Tali criteri sono gli stessi adottati nella redazione della Relazione finanziaria annuale 2015 depositata all'Autorité des Marchés Financiers (AMF) il 29 aprile 2016, che gli investitori sono invitati a leggere. Le informazioni finanziarie di Electro Power Systems al 30 settembre 2016 sono costituite da questo comunicato stampa. Tutte le informazioni richieste per legge, tra cui la relazione finanziaria annuale per l'anno fiscale 2015 e per i risultati al 30 giugno 2016 sono disponibili sul sito del Gruppo (http://www.electropowersystems.com) alla voce "Financial Information" e sono pubblicate da Electro Power Systems ai sensi delle disposizioni di cui all'articolo L. 451-1-2 del codice monetario e finanziario francese e dell'articolo 222-1 e seguenti del regolamento generale dei mercati finanziari francesi. Grazie ad una tecnologia proprietaria protetta da 125 brevetti e oltre 10 anni di ricerca e sviluppo, il Gruppo ha sviluppato soluzioni ibride integrate di stoccaggio di energia, per la stabilizzazione delle reti fortemente penetrate da fonti rinnovabili intermittenti, e per la generazione di energia off-grid in microreti ed a costi inferiori nei paesi emergenti. Offre soluzioni a zero impatto ambientale e remunerative su base commerciale senza sussidi. La mission del Gruppo è di diventare l'acceleratore della transizione energetica, tramite il controllo totale dell'intermittenza delle fonti di energia rinnovabile. Grazie al continuo sviluppo delle migliori tecnologie di controllo e modulazione delle fonti rinnovabili - reso possibile dalle tecnologie di accumulo - e alla piattaforma di stoccaggio ad idrogeno e ossigeno esclusiva del Gruppo adatta a fornire lunghe autonomie senza ricorrere al diesel o alla generazione a gas, le tecnologie del Gruppo consentono oggi alle energie rinnovabili di alimentare concretamente, 24h su 24h, intere comunità, in maniera completamente pulita ed a un costo inferiore. Oggi EPS è quotata sul mercato regolamentato francese Euronext, ed è inclusa negli indici CAC® Mid & Small e CAC® All -Tradable: con sede legale a Parigi e ricerca, sviluppo e produzione integralmente in Italia. Il Gruppo ha installato ed ha in corso di installazione complessivamente oltre 10,5 MW di sistemi di stoccaggio connessi in rete, 8.6 MW di centrali ibride off-grid alimentate da rinnovabili e stoccaggio di energia, e 3MW di sistemi ibridi a idrogeno, per un output totale di 46,2 MWh e 22,1 MW in 21 paesi in tutto il mondo, tra cui Europa, Stati Uniti, America Latina, Asia ed Africa. La guidance per i risultati di fine anno riflette gli indicatori attuali di evoluzione delle commesse e la relativa pianificazione dei Factory Acceptance Test. Inoltre, tale guidance è soggetta ai fattori di rischio evidenziati nell'Annual Financial Report. I relativi indicatori economici e finanziari sono pertanto approssimazioni effettuate sulla base delle aspettative, pianificazioni ed assunzioni del management, e pertanto i risultati di fine anno potranno differire da quanto rappresentato nel presente comunicato. Il presente documento contiene la guidance sui risultati 2016 e ulteriori forward looking statements, i.e. valutazioni e ipotesi su avvenimenti futuri, in particolare sulla pipeline, che viene valutata sulla base degli indicatori e dei parametri meglio descritti nella presentazione dei risultati al 30 Giugno 2016 pubblicati sul sito http://www.electropowersystems.com. I forward looking statement utilizzano per loro natura una terminologia previsionale, inclusi verbi o termini come "anticipare", "ritenere", "stime", "prevedere", "intendere", "potere", "pianificare", "costruire", "in discussione" o "potenziale", "dovrebbe" o l'utilizzo del futuro, "progetti", backlog o pipeline o "programmi da attuare" o, dipendentemente dal caso, le relative variazioni al negativo o altro o terminologia comparativa, o relativa a discussioni incentrate sulla strategia, piani, obiettivi, ambizioni, eventi futuri o intenzioni. I forward looking statement si riferiscono a eventi e situazioni che non rappresentano fatti accaduti. Il presente documento utilizza previsioni e stime senza limitazione alcuna alle intenzioni, convinzioni o attuali aspettative del Gruppo in relazione, per esempio, ai risultati del Gruppo in termini di sviluppo del business, transazioni, posizione finanziaria, previsioni, strategie finanziarie, aspettative di progettazione e sviluppo di prodotti, applicazioni regolamentari e autorizzazioni, accordi di rimborso, costo del venduto e penetrazione del mercato. Per propria natura, i forward looking statement contengono fattori di rischio e incertezze, perchè fanno riferimento a eventi e circostanze future. I forward looking statement non rappresentano alcuna garanzia della performance futura e gli attuali risultati delle operazioni del Gruppo e lo sviluppo dei mercati e dei settori in cui il Gruppo opera possono differire in maniera sostanziale da quelli descritti o suggeriti nel presente documento. Inoltre, anche se i risultati del Gruppo, la posizione finanziaria, la crescita e lo sviluppo dei mercati e dei settori in cui opera il Gruppo sono in linea con le previsioni contenute nel presente comunicato, tali risultati o sviluppi potrebbero non essere indicativi dei risultati o degli sviluppi registrati in periodi successivi. Diversi fattori possono avere un'influenza sui risultati e sullo sviluppo del Gruppo tali da generare modifiche sostanziali degli stessi rispetto a quelli indicati o suggeriti nelle previsioni incluse, senza alcuna limitazione, le condizioni generali economiche e commerciali, le condizioni del mercato globale dell'energia, le tendenze del settore, la concorrenza, modifiche di legge o di regolamenti, modifiche dei regimi di tassazione, la disponibilità e il costo del capitale, il tempo richiesto per iniziare e completare i cicli di vendita, fluttuazioni valutarie, modifiche della strategia commerciale e incertezze politiche ed economiche. Le previsioni utilizzate nel presente documento trovano fondamento solo con riferimento alla data di pubblicazione del presente documento.

Loading EPS Inc collaborators
Loading EPS Inc collaborators