Washington, DC, United States
Washington, DC, United States

The United States Mint primarily produces circulating coinage for the United States to conduct its trade and commerce. The Mint was created by Congress with the Coinage Act of 1792, and originally placed within the Department of State. Per the terms of the Coinage Act, the first Mint building was in Philadelphia, then the capital of the United States; it was the first building of the Republic raised under the Constitution. Today, the Mint's headquarters are in Washington D.C. which is not a coin producing facility. It operates mint facilities in Philadelphia, Denver, San Francisco, and West Point, New York and a bullion depository at Fort Knox, Kentucky. Official Mints were once also located in Carson City, Nevada, Charlotte, North Carolina, Dahlonega, Georgia, New Orleans, Louisiana, Washington, D.C.; and even in Manila, in the Philippines.The Mint was made an independent agency in 1799. It converted precious metals into standard coin for anyone's account with no seigniorage charge beyond the refining costs. Under the Coinage Act of 1873, the Mint became part of the Department of the Treasury. It was placed under the auspices of the Treasurer of the United States in 1981. Legal tender coins of today are minted solely for the Treasury's account. Wikipedia.


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News Article | May 2, 2017
Site: www.prweb.com

The United States Mint today announced a call for artists to design the obverse (heads side) of the commemorative coin honoring the first manned moon landing. Authorized by law, the Apollo 11 50th Anniversary Commemorative Coin Program celebrates the innovation and bravery of the successful mission and the fallen astronauts who preceded that endeavor. The competition invites artists to design a common obverse image that is emblematic of the United States Space Program leading up to the first manned Moon landing. The winning artist will receive $5,000 and have his or her initials included on the coins. Competition details and entry can be accessed at http://www.usmint.gov/apollo. “The success of the crew and the team behind Apollo 11 nearly 50 years ago holds special meaning to Americans,” said David Motl, Acting Principal Deputy Director of the United States Mint. “The Apollo 11 Commemorative Coin Design Competition presents a unique way for artists to capture the sense of pride for such an enormous accomplishment, while also memorializing fallen astronauts.” Phase One of the competition, which is open through June 29, 2017, or until 1,000 entries are received, calls for artists age 18 and older to submit portfolios of their prior work. From these entries, an expert jury will select no more than 20 applicants to participate in Phase Two. During Phase Two, artists will create an original design for the common obverse of the coin, which shall be submitted as a digital file. The final winner will be announced in 2018. As authorized by law, the common reverse (tails side) will depict a representation of a close-up of the famous ‘‘Buzz Aldrin on the Moon’’ photograph taken July 20, 1969, which shows the visor and part of the helmet of the famed astronaut. An expert jury composed of members of the U.S. Commission of Fine Arts and the Citizens Coinage Advisory Committee will review and score design submissions. Both groups provide experienced and impartial expertise in advancing the state of public art and the interests of American citizens and coin collectors. The jury will choose a winning design to recommend the Secretary of the Treasury for selection. With the winning design selected, the United States Mint will begin issuing curved gold, silver, clad, and five ounce silver commemorative coins in 2019. Surcharges for this program are authorized to be paid in various denominations to three recipient organizations: the Smithsonian Institution’s National Air and Space Museum’s ‘‘Destination Moon’’ exhibit, the Astronauts Memorial Foundation, and the Astronaut Scholarship Foundation. For the first time in recent history, this commemorative coin program will be composed of four coins instead of three, including $5 gold coins, $1 silver coins, half-dollar clad coins, and five ounce silver proof coins. This will be the first time that a curved version of a five ounce silver coin is produced and offered by the United States Mint. “The Apollo 11 50th Anniversary Commemorative Coin Program represents a meaningful and exciting undertaking for the United States Mint,” said Motl. “We look forward to the public’s participation in creating the final obverse design.” About the United States Mint The United States Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. It is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver and gold bullion coins. Its numismatic programs are self-sustaining and operate at no cost to taxpayers. The Mint is celebrating its 225th anniversary in 2017 (#USMint225).


News Article | April 26, 2017
Site: www.prweb.com

How has the Trump administration affected the price of gold? Is it a good time to buy or sell? How can you avoid overpaying when purchasing gold and avoid receiving too little when you sell? The best ways to buy, sell and store gold and add precious metals to a diversified portfolio will be the topic of a free educational seminar at the National Rifle Association’s Annual Meetings & Events (http://www.NRAam.org) in Atlanta, Georgia on Saturday, April 29, 2017. It will be presented by award-winning rare coins and precious metals writer Michael Fuljenz, President of Universal Coin & Bullion (http://www.UniversalCoin.com) in Beaumont, Texas. The one-hour 8th Annual Freedom First Financial Seminar will be open to the public and begins at 11:00 am in room B-310 in the Georgia World Congress Center in Atlanta, site of the NRA events. “Gold already has performed well so far this year, and it has a good chance of continuing to rise under the Trump administration in view his plans to significantly increase military spending and because gold tends to rise in the first year of new presidents,” said Fuljenz. “We’ve certainly seen an increase in new customers buying gold as well as existing customers purchasing more since Trump was elected.” Universal Coin & Bullion is the Official Bullion and Rare Coin Expert of NRA Publications. The company will co-sponsor the NRA Prayer Breakfast on Sunday, April 30. The company also will have a display of gold coins at its booth #1142 during the 2017 NRA Annual Meetings & Exhibits. Copies of Fuljenz’ acclaimed gold coins reference book, Type Three Double Eagles 1877 – 1907, 2nd Edition, will be available at the booth. It received the Book of the Year Award from the prestigious Numismatic Literary Guild. In addition to being a Golden Ring of Freedom member, Fuljenz is an NRA Benefactor member and long-time supporter of the NRA's Eddie Eagle Gunsafe® program. He has won more than 60 prestigious national and regional awards and honors for his consumer education and protection work about rare coins and gold and silver. Known as America’s Gold Expert®, Fuljenz also has served with distinction as a consultant to the Federal Trade Commission, United States Mint and Royal Canadian Mint, and is on the Boards of Directors of the influential Industry Council For Tangible Assets, Numismatic Literary Guild and Crime Stoppers of Beaumont, Texas. He is a member of the prestigious Professional Numismatists Guild (PNG), is a PNG Accredited Precious Metals Dealer, and received an Honorary Doctorate in Humane Letters from McNeese State University. For additional information about Universal Coin & Bullion visit http://www.UniversalCoin.com, and for information about the NRA Annual Meetings and Exhibits, visit http://www.NRAam.org.


News Article | February 24, 2017
Site: www.prweb.com

Educator and award-winning numismatic Author Michael Fuljenz, President of Universal Coin & Bullion (http://www.UniversalCoin.com) will give an informative Money Talks, “Breaking Bread With In God We Trust,” at the American Numismatic Association National Money Show® in Orlando, Florida. The presentation will begin at 1 pm, Thursday, March 9, 2017, in room W240D at the Orange County Convention Center West Building, site of the show. A complimentary premium box lunch and bottled water will be available for the first 50 attendees at this lunchtime seminar about the patriotic motto, In God We Trust (http://www.INGODWETRUSTonmoney.com). During the educational presentation, Fuljenz will explain how the motto actually was first inspired by events during the War of 1812 that sparked creation of the National Anthem; first appeared on U.S. coins a half century later in 1864; and now continues to withstand legal challenges. A former high school chemistry and physics teacher and principal of the Governor’s gifted students program in Louisiana, Fuljenz has received more than 60 awards from the Numismatic Literary Guild as well as national and regional awards and honors for his consumer education and protection work in rare coins and precious metals. He also received an Honorary Doctorate in Humane Letters from McNeese State University. Michael Fuljenz is a respected community leader and literacy advocate in his hometown of Beaumont, Texas. Mike also has served with distinction as a consultant to the Federal Trade Commission, United States Mint and Royal Canadian Mint, and is on the Boards of Directors of the Jefferson County Texas Crime Stoppers organization, the Diocese of Beaumont Catholic Schools, the Industry Council For Tangible Assets and the Numismatic Literary Guild. For additional information about the ANA National Money Show, visit http://www.NationalMoneyShow.com. To read Fuljenz’ free, weekly Metals Market Report go to http://www.UniversalCoin.com.


ALLEN, TX--(Marketwired - Nov 1, 2016) - PFSweb, Inc. ( : PFSW), a global commerce service provider, will hold a conference call on Wednesday, November 9, 2016 at 5:00 p.m. Eastern time to discuss its financial results for the third quarter ended September 30, 2016. The results will be reported in a press release prior to the conference call. PFSweb CEO Mike Willoughby and CFO Tom Madden will host the conference call, followed by a question and answer period. Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios Group at 1-949-574-3860. The conference call will be broadcast live and available for replay at http://public.viavid.com/index.php?id=121850 and via the investor relations section of the company's website at www.pfsweb.com. A replay of the conference call will be available after 8:00 p.m. Eastern time on the same day through November 23, 2016. About PFSweb, Inc. PFSweb (PFS) ( : PFSW) is a global commerce service provider of solutions including digital strategy consulting, digital agency and marketing services, technology development services, business process outsourcing services, and a complete omni-channel technology ecosystem. The company provides these solutions and services to major brand names and other companies seeking to optimize every customer experience and enhance their traditional and online business channels. PFS supports organizations across various industries, including Procter & Gamble, L'Oreal, LEGO, Canada Goose, ASICS, Roots Canada Ltd., PANDORA, Diageo, Anastasia Beverly Hills, See's Candies, T.J. Maxx, the United States Mint, and many more. PFS is headquartered in Allen, TX with additional locations in Tennessee, Mississippi, Minnesota, Washington, New York, Ohio, North Carolina, Canada, Belgium, United Kingdom, Bulgaria, and India. For more information, please visit www.pfsweb.com or download the free PFS IR App on your iPhone, iPad, or Android device.


News Article | November 17, 2016
Site: www.prweb.com

The United States Mint (Mint) joined the National Park Service today to launch the America the Beautiful Quarters® Program coin honoring Fort Moultrie (Fort Sumter National Monument) in South Carolina. The coin’s reverse (tails) depicts Sergeant William Jasper returning the regimental flag to the ramparts while under attack from British ships. “This new coin stands as a tribute to the bravery and self-sacrifice of those who believed our fledgling Nation deserved a fighting chance,” said Mint Chief Counsel Jean Gentry. Additional participants in the ceremony included Barclay Trimble of the National Park Service Southeast Regional Office; Timothy Stone, Superintendent of the Fort Sumter National Monument; Pat O'Neil, Mayor of Sullivan's Island; Dan Head, Regional Director for U.S. Senator Lindsey Graham; Kathy Crawford, Regional Director for U.S. Senator Tim Scott; Bill Saunders, Regional Director for U.S. Representative Jim Clyburn; and Laurie Turner, Regional Director for U.S. Representative Mark Sanford. Event highlights included a coin forum the evening before the event; a special firing of reproduction muskets during the ceremony by National Park Service staff in period attire; and a coin exchange, where event attendees traded their cash for $10 rolls of newly–minted Fort Moultrie (Fort Sumter National Monument) quarters. The Mint is offering products featuring the Fort Moultrie (Fort Sumter National Monument) quarter for sale directly to the public. To place an order, visit the bureau’s online catalog at http://catalog.usmint.gov/coin-programs/america-the-beautiful-quarters-program/ or call 1-800-USA-MINT (872-6468). The Fort Moultrie (Fort Sumter National Monument) quarter is the 35th release in the United States Mint America the Beautiful Quarters Program, a 12-year initiative to honor 56 national parks and other national sites authorized by Public Law 110-456. Each year, the public sees five new national sites depicted on the reverses (tails sides) of the America the Beautiful Quarters. The Mint is issuing these quarters in the order in which the national sites were officially established. The United States Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. It is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver, gold and platinum bullion coins. The Mint's numismatic programs are self-sustaining and operate at no cost to taxpayers.


News Article | February 25, 2017
Site: www.prweb.com

WHAT:      The United States Mint will hold a ceremony to officially open sales of the 2017 Boys Town Centennial Commemorative Coin Program. Public Law 114-30 directs the Mint to strike and issue up to 50,000 five dollar gold coins, 350,000 silver dollar coins and 300,000 half dollar clad coins to commemorate the 100th anniversary of Boys Town. Coins in the program will be available for purchase at the venue following the event. Surcharges collected from all coin sales are authorized to be paid to Boys Town. Since 1917, Boys Town’s has given thousands of at-risk children the love, support and education they need to succeed. About the United States Mint The United States Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. It is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver and gold bullion coins. The United States Mint's numismatic programs are self-sustaining and operate at no cost to taxpayers. The Mint is celebrating its 225th anniversary in 2017 (#USMint225).


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

The United States Mint (Mint) joined the National Park Service today to launch the America the Beautiful Quarters® Program coin honoring Effigy Mounds National Monument in Iowa. The coin is the first of five America the Beautiful Quarters to be issued in 2017, and the 36th in the series. The coin’s reverse (tails) depicts an aerial view of mounds in the Marching Bear Group. Inscriptions are “EFFIGY MOUNDS,” “IOWA,” “2017,” and “E PLURIBUS UNUM.” “The Effigy Mounds quarter design embodies the spirit of this sacred landscape,” said Marc Landry, Superintendent of the United States Mint at Philadelphia. “This new coin honors a special place where ancient people changed the landscape of their world in the most extraordinary way.” More than 1,200 local residents and schoolchildren gathered in the Allamakee Community School District High School Gym for the ceremony, led by KWWL News anchor/reporter Jerry Gallagher. Additional ceremony participants included Jim Nepstad, Effigy Mounds National Monument superintendent; Edmore Green, Tribal Chair of Sac and Fox Nation of Missouri in Kansas and Nebraska; Fred Schuster, Regional Director for U.S. Senator Chuck Grassley; Brittney Carroll, Regional Director for U.S. Senator Joni Ernst; and Michael Olson, who represented U.S. Congressman Rod Blum. Launch highlights included a videotaped message from Iowa native Peggy Whitson, astronaut and biochemistry researcher for the National Aeronautics and Space Administration, and special recognition of fourth-generation Iowan Richard Masters, who designed the new quarter. Masters, an artist in the Mint’s Artistic Infusion Program, has designed coins and medals for the United States Mint for more than 10 years. Read more about Mr. Masters at https://www.usmint.gov/education/artisticinfusion/index60b6.html?action=designer&designer=13. Following the ceremony, attendees traded their cash for newly-minted Effigy Mounds National Monument quarter rolls. Authorized by Public Law 110-456, the United States Mint America the Beautiful Quarters Program is a 12-year initiative to honor 56 national parks and other national sites. Each year, the public will see five new national sites depicted on the reverses (tails sides) of the America the Beautiful Quarters issued in the order in which the sites were first established. Additional information about the America the Beautiful Quarters Program is available at https://www.usmint.gov/mint_programs/atb/index.html, while free lesson plans based on the program are available at http://www.usmint.gov/kids/teachers/. A digital image of the Effigy Mounds National Monument quarter is available at https://www.usmint.gov/downloads/pressroom/ATB/36-Effigy-Mounds-IA.jpg. About the United States Mint The United States Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. It is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver and gold bullion coins. Its numismatic programs are self-sustaining and operate at no cost to taxpayers. The Mint is celebrating its 225th anniversary in 2017 (USMint#225).


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

WHAT: The United States Mint will launch the America the Beautiful Quarters® Program coin honoring Effigy Mounds National Monument in Iowa on Tuesday, Feb. 7, 2017, at 10:00 a.m. Central Standard Time. The ceremony will be held at Allamakee Community School District High School Gym in Waukon, Iowa. $10 rolls of newly-minted Effigy Mounds National Monument quarters will be available for exchange following the event. Effigy Mounds National Monument quarter designer and fourth-generation Iowan Richard Masters will receive special recognition at the ceremony. Mr. Masters, an artist in the United States Mint Artistic Infusion Program, has designed coins and medals for the Mint for more than 10 years. Additional event highlights include remarks by Edmore Green, Tribal Chair of the Sac and Fox Nation of Missouri in Kansas and Nebraska, and a videotaped message from Iowa native Peggy Whitson, astronaut and biochemistry researcher for the National Aeronautics and Space Administration. WHO:     Marc Landry, Plant Manager, United States Mint at Philadelphia Jim Nepstad, Superintendent, Effigy Mounds National Monument Edmore Green, Tribal Chair, Sac and Fox Nation of Missouri in Kansas and Nebraska Fred Schuster, Regional Director for U.S. Senator Chuck Grassley Brittney Carroll, Regional Director for U.S. Senator Joni Ernst Michael Olson, for U.S. Congressman Rod Blum Richard Masters, Artist, United States Mint Artistic Infusion Program COIN FORUM The United States Mint will host a coin forum the evening before the launch ceremony—Monday, Feb. 6, 2017, 5:30 – 6:30 p.m. Central Standard Time at the Effigy Mounds National Monument Visitor Center, 151 Highway 76, Harpers Ferry, Iowa 52146. The coin forum is an opportunity for the public to learn about upcoming United States Mint coin programs and initiatives and express their views about future coinage. The Effigy Mounds National Monument quarter is the 36th release in the United States Mint America the Beautiful Quarters Program, a 12-year initiative that honors 56 national parks and other national sites authorized by Public Law 110-456. Each year, the public will see five new national sites depicted on the reverses (tails sides) of the America the Beautiful Quarters. The United States Mint is issuing these quarters in the order in which the national sites were officially established.


News Article | November 10, 2016
Site: www.marketwired.com

ALLEN, TX--(Marketwired - Nov 9, 2016) - PFSweb, Inc. ( : PFSW) ("PFS"), a global commerce service provider, reported results for the third quarter ended September 30, 2016. Third Quarter 2016 Summary vs. Same Year-Ago Quarter (where applicable) Management Commentary "As described in our October 2016 pre-announcement release, our third quarter results were impacted by an operational challenge with a newly-launched fulfillment client," said Mike Willoughby, CEO of PFS. "This client's unique business model led to unanticipated operational requirements, including incremental labor and operating costs to support their seasonal peak volumes in late Q3 and early Q4. Now that we've supported this client through their seasonal peak, we will continue to work diligently to re-engineer a solution that will bring this client engagement to our desired level of profitability, while continuing to meet the operational needs of the client. "Our incremental investments in sales, marketing and infrastructure this year continue to drive improved results as we generated another solid quarter of long-term engagements and project wins from new and existing clients. We continue to maintain a strong pipeline and expect 2016 to mark the largest number of bookings in the history of our company. "As we prepare for the upcoming holiday season, we will continue to strive toward enabling our clients to maximize their holiday sales performance through our support and execution of their ecommerce initiatives." Third Quarter 2016 Financial Results Total revenues in the third quarter of 2016 increased 12% to $79.9 million compared to $71.2 million in the same period of 2015. Service fee revenue in the third quarter increased 18% to $53.8 million compared to $45.5 million last year. Product revenue was $11.7 million compared to $14.4 million in the same period of 2015 due to ongoing restructuring activities by the company's last remaining client in this segment and their discontinuation of certain product lines. Service fee equivalent revenue increased 18% to $54.5 million compared to $46.2 million in the year-ago quarter, driven by both new and expanded client relationships, as well as approximately $2.7 million of incremental service fees generated in the third quarter of 2016 by the company's acquired entities, CrossView and Conexus, which were acquired in 2015 and 2016, respectively. Service fee gross margin in the third quarter of 2016 was 31.4% compared to 33.7% in the same period of 2015. The decrease was primarily due to higher facility and other operating costs applicable to certain new large fulfillment clients won during the year, as well as incremental labor and operating costs for the newly launched client referred to above. This was partially offset by higher-margin professional services activity. Net loss in the third quarter of 2016 was $1.0 million or $(0.06) per share, compared to a net loss of $3.7 million or $(0.21) per share in the same period of 2015. Net loss in the third quarter of 2016 included a $0.5 million net benefit from acquisition-related, restructuring and other (income) costs, $0.3 million in stock-based compensation expense, and $1.2 million in amortization of acquisition-related intangible assets. This compares to $2.6 million expense in acquisition-related, restructuring and other (income) costs, $1.5 million in stock-based compensation expense, and $1.0 million in amortization of acquisition-related intangible assets in the same period of 2015. Adjusted EBITDA (a non-GAAP measure defined below) was $3.6 million compared to $5.4 million in the same period of 2015. As a percentage of service fee equivalent revenue, adjusted EBITDA was 6.6% compared to 11.8% in the year-ago quarter. The decline in adjusted EBITDA margin was primarily driven by incremental labor and operating costs associated with servicing certain new clients, as well as an increase in sales and marketing and infrastructure resources. This was partially offset by higher-margin professional services activity. Non-GAAP net loss (a non-GAAP measure defined below) in the third quarter of 2016 was $0.1 million, compared to Non-GAAP net income of $1.5 million in the third quarter of 2015. At September 30, 2016, cash and cash equivalents totaled $15.7 million compared to $21.8 million at December 31, 2015. Total debt was $60.4 million compared to $35.4 million at December 31, 2015, with the increase primarily driven by funds used to support the June 2016 Conexus acquisition and payment of calendar 2015 related earn-out liabilities applicable to prior acquisitions, as well as funding of incremental working capital and capital expenditure requirements. 2016 & 2017 Outlook As disclosed in the company's October pre-announcement release, PFS expects 2016 service fee equivalent revenue to range between $222 million and $228 million, reflecting growth of 20% to 23% from 2015. The company also expects adjusted EBITDA to range between $18 million and $20 million, which compares to $20.7 million in 2015. For 2017, PFS expects continued strong growth in service fee equivalent revenue as the company realizes the full year benefit of 2016 client wins and generates incremental revenue from new and expanded client relationships. At this time, the company is targeting 2017 service fee equivalent revenue to range between $245 million and $260 million. The company is also targeting adjusted EBITDA to range between $23 million and $26 million. This adjusted EBITDA target includes infrastructure expenditures to support the company's future growth strategies as well as expected costs in early 2017 associated with the continued remediation of the fulfillment client implementation noted above. Conference Call PFS will conduct a conference call today at 5:00 p.m. Eastern time to discuss its results for the third quarter ended September 30, 2016. CEO Michael Willoughby and CFO Tom Madden will host the conference call, followed by a question and answer period. Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Liolios at 1-949-574-3860. The conference call will be broadcast live and available for replay at http://public.viavid.com/index.php?id=121850 and via the investor relations section of the company's website at www.pfsweb.com. A replay of the conference call will be available after 8:00 p.m. Eastern Time on the same day through November 23, 2016. About PFSweb, Inc. PFSweb (PFS) ( : PFSW) is a global commerce service provider of solutions including digital strategy consulting, digital agency and marketing services, technology development services, business process outsourcing services, and a complete omni-channel technology ecosystem. The company provides these solutions and services to major brand names and other companies seeking to optimize every customer experience and enhance their traditional and online business channels. PFS supports organizations across various industries, including Procter & Gamble, L'Oreal, LEGO, Canada Goose, ASICS, Roots Canada Ltd., PANDORA, Diageo, Anastasia Beverly Hills, See's Candies, T.J. Maxx, the United States Mint, and many more. PFS is headquartered in Allen, TX with additional locations in Tennessee, Mississippi, Minnesota, Washington, New York, Ohio, North Carolina, Canada, Belgium, United Kingdom, Bulgaria, and India. For more information, please visit www.pfsweb.com or download the free PFS IR App on your iPhone, iPad, or Android device. Non-GAAP Financial Measures This news release contains certain non-GAAP measures, including non-GAAP net income (loss), earnings before interest, income taxes, depreciation and amortization (EBITDA), Adjusted EBITDA and service fee equivalent revenue. Non-GAAP net income (loss) represents net income (loss) calculated in accordance with U.S. GAAP as adjusted for the impact of non-cash stock-based compensation expense, acquisition-related, restructuring and other (income) costs and the amortization of acquisition-related intangible assets. EBITDA represents earnings (or losses) before interest, income taxes, depreciation, and amortization. Adjusted EBITDA further eliminates the effect of stock-based compensation, acquisition-related, restructuring and other (income) costs. Service fee equivalent revenue represents service fee revenue plus the gross profit earned on product revenue and does not alter existing revenue recognition. Our service fee equivalent revenue target for 2016 includes an estimated gross margin on product sales of approximately $3 million (based on targeted product revenue of $50 million less targeted cost of product revenue of $47 million) plus a targeted range of between $219 million to $225 million of service fee revenue. The adjusted EBITDA outlook for 2016 have not been reconciled to the company's net loss outlook for the same period because certain items that would impact interest expense, income tax provision (benefit), depreciation and amortization (including amortization of acquisition-related intangible assets), stock-based compensation, and acquisition-related, restructuring and other (income) costs, all of which are reconciling items between net loss and adjusted EBITDA, cannot be reasonably predicted. Accordingly, reconciliation of adjusted EBITDA outlook to net loss outlook for 2016 is not available without unreasonable effort. Non-GAAP net income (loss), EBITDA, Adjusted EBITDA and service fee equivalent revenue are used by management, analysts, investors and other interested parties in evaluating our operating performance compared to that of other companies in our industry. The calculation of non-GAAP net income (loss) eliminates the effect of stock-based compensation, acquisition-related, restructuring and other (income) costs and amortization of acquisition-related intangible assets and EBITDA and adjusted EBITDA further eliminate the effect of financing, income taxes and the accounting effects of capital spending, which items may vary from different companies for reasons unrelated to overall operating performance. Service fee equivalent revenue allows client contracts with similar operational support models but different financial models to be combined as if all contracts were being operated on a service fee revenue basis. PFS believes these non-GAAP measures provide useful information to both management and investors by focusing on certain operational metrics and excluding certain expenses in order to present its core operating performance and results. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. The non-GAAP measures included in this press release have been reconciled to the GAAP results in the attached tables. Forward-Looking Statements The matters discussed herein consist of forward-looking information under the Private Securities Litigation Reform Act of 1995 and is subject to and involves risks and uncertainties, which could cause actual results to differ materially from the forward-looking information. PFS' Annual Report on Form 10-K for the year ended December 31, 2015 identifies certain factors that could cause actual results to differ materially from those projected in any forward looking statements made and investors are advised to review the Annual Report of the company and the Risk Factors described therein. PFS undertakes no obligation to update publicly any forward-looking statement for any reason, even if new information becomes available or other events occur in the future. There may be additional risks that we do not currently view as material or that are not presently known.


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

The United States recently earned top honors in two coin design categories at the World Money Fair in Berlin, Germany. United States Mint (Mint) officials accepted two Coin of the Year (COTY) Awards on behalf of the Nation. The U.S. won in the category of Best Circulating Coin for its America the Beautiful Program quarter honoring Kisatchie National Forest and in the category of Most Inspirational Coin for its March of Dimes Silver Dollar commemorative coin. “The designers, sculptors and engravers of the Mint comprise the very best talent in the numismatic industry,” said David Motl, Acting Principal Deputy Director of the Mint. “Artists are an indispensable part of the coin production process and the Mint congratulates them on this well-deserved recognition.” The March of Dimes Silver Dollar, which celebrates the 75th anniversary of the establishment of the March of Dimes Foundation, includes a reverse (tails side) that was designed and sculpted by sculptor-engraver Don Everhart, who has been with the Mint since 2004. The obverse (heads side) of the coin features the profiles of President Franklin D. Roosevelt and Dr. Jonas Salk, two leaders in the fight against polio, and was designed by Paul Balan, a member of the Artistic Infusing Program (AIP) since 2010 and sculpted by Mint sculptor-engraver Michael Gaudioso, who has been with the Mint since 2009. The America the Beautiful Program quarter honoring Kisatchie National Forest features a wild turkey in flight over blue stem grass with long leaf pine in the background on the reverse. The design is by Susan Gamble, who was part of the AIP from 2004 until her death in 2015. Sculptor-engraver Joseph Menna, who joined the Mint in 2005, sculpted the design. The COTY Awards recognize artistic talent among 10 design categories. A panel of international judges selects from coins issued two years prior to the year of the award. Both of the coins were issued in 2015 and are no longer available from the Mint. About the United States Mint The United States Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. It is the Nation's sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The United States Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver and gold bullion coins. The United States Mint's numismatic programs are self-sustaining and operate at no cost to taxpayers.

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