Steel Connect, Inc., together with its subsidiaries, provides direct marketing and supply chain services in the United States, China, the Netherlands, and internationally. It offers data-driven marketing solutions, including strategy, data and analytics, response analysis, creative services, lithographic and digital printing, envelope printing and converting, component manufacturing, promotional cards, data processing and hygiene, content and asset management, personalization, lettershop and bindery, and postal optimization for paper-based direct marketing and omnichannel marketing campaigns, as well as provides business continuity and disaster recovery services. The company also offers product configuration and packaging, kitting, and assembly of components and parts into finished goods; and value-added processes, such as product testing, radio frequency identification tagging, product or service activation, language settings, personalization and engraving, multi-channel packaging, and packaging design services. In addition, it provides fulfillment services comprising order management, pick, pack and ship, retail compliance, and demand planning services; and reverse logistics services that simplifies the returns process for retailers and manufacturers, as well as operates a cloud-based e-commerce platform. Steel Connect, Inc. offers its supply chain services to customers in the consumer electronics, communications, computing, medical devices, software, storage, and retail markets. The company was formerly known as ModusLink Global Solutions, Inc. and changed its name to Steel Connect, Inc. in February 2018. Steel Connect, Inc. was incorporated in 1986 and is headquartered in Waltham, Massachusetts.
IPO Year:
Exchange: NASDAQ
Website: steelconnectinc.com
First Quarter 2025 Results Steel Connect, Inc. (the "Company") (NASDAQ:STCN) today announced financial results for its first quarter ended October 31, 2024. Results of Operations Three Months Ended October 31, 2024 2023 (in thousands) Net revenue $ 50,487 $ 41,341 Net income 2,365 4,436 Net income attributable to common stockholders 1,828 3,900 Adjusted EBITDA*
Steel Connect, Inc. (the "Company") (NASDAQ:STCN) today announced financial results for its fourth quarter and fiscal year ended July 31, 2024. Results of Operations Due to the previously disclosed application of pushdown accounting, the Company's consolidated financial statements include a black line division between the two distinct periods to indicate the application of two different bases of accounting, which may not be comparable, between the periods presented. The pre-exchange period through April 30, 2023, is referred to as the "Predecessor" period. The post-exchange period, May 1, 2023, and onward, includes the impact of pushdown accounting and is referred to as the "Successor" pe
Steel Connect, Inc. (the "Company") (NASDAQ:STCN) today announced financial results for its third quarter ended April 30, 2024. Results of Operations During the current quarter, the Company booked a $71.5 million non-cash accounting adjustment to net income as a result of a release of a portion of its valuation allowance for certain pre-existing Company deferred tax assets. The release resulted in a one-time non-cash adjustment to income tax benefit of $71.5 million for the quarter ended April 30, 2024. This adjustment to net income has no cash impact and is not expected to reoccur. Due to the previously disclosed application of pushdown accounting, the Company's consolidated financia
Second Quarter 2024 Results Net revenue totaled $43.0 million, as compared to $50.8 million in the same period of the prior fiscal year. Net income was $5.3 million, as compared to a net loss of $0.5 million in the same period of the prior fiscal year. Net income available to common stockholders was $4.8 million, as compared to a net loss available to common stockholders of $1.1 million in the same period of the prior fiscal year. Adjusted EBITDA* was $3.7 million, as compared to $4.6 million in the same period of the prior fiscal year. Net cash provided by operating activities was $0.1 million. Free Cash Flow* totaled $(1.1) million. Total debt was $12.9 million; Net C
Symrna, TN, Feb. 09, 2024 (GLOBE NEWSWIRE) -- ModusLink Corporation is proud to announce that it has earned Intel's EPIC Distinguished Supplier Award. Through its dedication to Excellence, Partnership, Inclusion, and Continuous (EPIC) quality improvement, ModusLink Corporation has achieved a level of performance that consistently exceeds Intel's expectations. "As one of only 22 Distinguished Supplier Award recipients across the Intel global supply chain, ModusLink Corporation stands out among suppliers in the semiconductor industry," said Keyvan Esfarjani, chief global operations officer at Intel. "Their customer orientation and commitment to excellence is a testament to their dedicati
Steel Connect, Inc. (the "Company") (NASDAQ:STCN), today announced that its Board of Directors (the "Board") further amended its tax benefits preservation plan, dated as of January 19, 2018, as amended on January 8, 2021 (the "Plan"), to extend the term of the Plan from January 8, 2024 to January 8, 2027 (subject to earlier expiration, as described below). The Company has significant net operating loss carryforwards for federal and state tax purposes and believes that its ability to utilize these net operating loss carryforwards and other tax attributes (collectively, "Tax Benefits") would be substantially limited if the Company undergoes an "ownership change" (within the meaning of Secti
First Quarter 2024 Results Net revenue totaled $41.3 million, as compared to $51.4 million in the same period of the prior fiscal year. Net income was $4.4 million, as compared to of $5.0 million in the same period of the prior fiscal year. Net income attributable to common stockholders was $3.9 million, as compared to $4.4 million in the same period of the prior fiscal year. Adjusted EBITDA* was $3.3 million, as compared to $7.3 million in the same period of the prior fiscal year. Net cash provided by operating activities was $6.6 million. Free Cash Flow* totaled $6.0 million. Total debt was $12.3 million; Net Debt* totaled $(264.4) million. Steel Connect, Inc. (the
Fourth Quarter 2023 Results Net revenue from continuing operations totaled $40.8 million, as compared to $53.0 million in the prior year. Net income from continuing operations was $8.1 million, as compared to $2.9 million in the prior year. Net income attributable to common stockholders was $7.6 million, as compared to $0.8 million in the prior year. Adjusted EBITDA* was $10.6 million, as compared to $4.7 million in the prior year. Net cash provided by operating activities was $8.5 million. Free Cash Flow* totaled $5.3 million. Total debt was $12.5 million; Net Debt* totaled $(108.9) million. Fiscal Year 2023 Financial Results Net revenue from continuing ope
Third Quarter 2023 Results Net revenue from continuing operations totaled $46.1 million, as compared to $51.5 million in the same period in the prior year. Net income from continuing operations was $3.0 million, as compared to net loss from continuing operations of $9.7 million in the same period in the prior year. Net income attributable to common stockholders was $2.5 million, as compared to net income attributable to common stockholders of $29.7 million in the same period in the prior year. Adjusted EBITDA* was $5.2 million, as compared to $0.9 million in the same period in the prior year. Net cash used in operating activities was $0.6 million. Free Cash Flow* totaled $
Steel Connect, Inc. (NASDAQ:STCN), a Delaware corporation and holding company (the "Company" or "Steel Connect"), announced today that it will effect a 1-for-3,500 reverse stock split ("Reverse Stock Split") of its common stock, par value $0.01 per share (the "Company Common Stock"), followed immediately by a 375-for-1 forward stock split of the Company Common Stock (the "Forward Stock Split," and, together with the Reverse Stock Split, the "Reverse/Forward Stock Split"). The Company Common Stock will continue to trade on The Nasdaq Capital Market ("Nasdaq") under the existing symbol "STCN" and will begin trading on a split-adjusted basis when the market opens on June 22, 2023. The new CUSI
SC 13D/A - Steel Connect, Inc. (0000914712) (Filed by)
SC 13D/A - Steel Connect, Inc. (0000914712) (Filed by)
SC 13D - Steel Connect, Inc. (0000914712) (Filed by)
SC 13D/A - Steel Connect, Inc. (0000914712) (Subject)
SC 13D/A - Steel Connect, Inc. (0000914712) (Subject)
SC 13D/A - Steel Connect, Inc. (0000914712) (Subject)
First Quarter 2025 Results Steel Connect, Inc. (the "Company") (NASDAQ:STCN) today announced financial results for its first quarter ended October 31, 2024. Results of Operations Three Months Ended October 31, 2024 2023 (in thousands) Net revenue $ 50,487 $ 41,341 Net income 2,365 4,436 Net income attributable to common stockholders 1,828 3,900 Adjusted EBITDA*
Steel Connect, Inc. (the "Company") (NASDAQ:STCN) today announced financial results for its fourth quarter and fiscal year ended July 31, 2024. Results of Operations Due to the previously disclosed application of pushdown accounting, the Company's consolidated financial statements include a black line division between the two distinct periods to indicate the application of two different bases of accounting, which may not be comparable, between the periods presented. The pre-exchange period through April 30, 2023, is referred to as the "Predecessor" period. The post-exchange period, May 1, 2023, and onward, includes the impact of pushdown accounting and is referred to as the "Successor" pe
Steel Connect, Inc. (the "Company") (NASDAQ:STCN) today announced financial results for its third quarter ended April 30, 2024. Results of Operations During the current quarter, the Company booked a $71.5 million non-cash accounting adjustment to net income as a result of a release of a portion of its valuation allowance for certain pre-existing Company deferred tax assets. The release resulted in a one-time non-cash adjustment to income tax benefit of $71.5 million for the quarter ended April 30, 2024. This adjustment to net income has no cash impact and is not expected to reoccur. Due to the previously disclosed application of pushdown accounting, the Company's consolidated financia
Second Quarter 2024 Results Net revenue totaled $43.0 million, as compared to $50.8 million in the same period of the prior fiscal year. Net income was $5.3 million, as compared to a net loss of $0.5 million in the same period of the prior fiscal year. Net income available to common stockholders was $4.8 million, as compared to a net loss available to common stockholders of $1.1 million in the same period of the prior fiscal year. Adjusted EBITDA* was $3.7 million, as compared to $4.6 million in the same period of the prior fiscal year. Net cash provided by operating activities was $0.1 million. Free Cash Flow* totaled $(1.1) million. Total debt was $12.9 million; Net C
First Quarter 2024 Results Net revenue totaled $41.3 million, as compared to $51.4 million in the same period of the prior fiscal year. Net income was $4.4 million, as compared to of $5.0 million in the same period of the prior fiscal year. Net income attributable to common stockholders was $3.9 million, as compared to $4.4 million in the same period of the prior fiscal year. Adjusted EBITDA* was $3.3 million, as compared to $7.3 million in the same period of the prior fiscal year. Net cash provided by operating activities was $6.6 million. Free Cash Flow* totaled $6.0 million. Total debt was $12.3 million; Net Debt* totaled $(264.4) million. Steel Connect, Inc. (the
Fourth Quarter 2023 Results Net revenue from continuing operations totaled $40.8 million, as compared to $53.0 million in the prior year. Net income from continuing operations was $8.1 million, as compared to $2.9 million in the prior year. Net income attributable to common stockholders was $7.6 million, as compared to $0.8 million in the prior year. Adjusted EBITDA* was $10.6 million, as compared to $4.7 million in the prior year. Net cash provided by operating activities was $8.5 million. Free Cash Flow* totaled $5.3 million. Total debt was $12.5 million; Net Debt* totaled $(108.9) million. Fiscal Year 2023 Financial Results Net revenue from continuing ope
Third Quarter 2023 Results Net revenue from continuing operations totaled $46.1 million, as compared to $51.5 million in the same period in the prior year. Net income from continuing operations was $3.0 million, as compared to net loss from continuing operations of $9.7 million in the same period in the prior year. Net income attributable to common stockholders was $2.5 million, as compared to net income attributable to common stockholders of $29.7 million in the same period in the prior year. Adjusted EBITDA* was $5.2 million, as compared to $0.9 million in the same period in the prior year. Net cash used in operating activities was $0.6 million. Free Cash Flow* totaled $
Steel Partners Holdings L.P. (NYSE:SPLP), a diversified global holding company ("Steel Partners") and Steel Connect, Inc. (NASDAQ:STCN) ("Steel Connect") today announced that Steel Partners and certain of its affiliates (the "Steel Partners Group") have transferred certain marketable securities held by the Steel Partners Group to Steel Connect in exchange for 3.5 million shares of Series E Convertible Preferred Stock of Steel Connect (the "Preferred Stock", and, such transfer and related transactions, the "Transaction"). Upon approval by the Steel Connect stockholders pursuant to NASDAQ Marketplace Rules, the Preferred Stock will be convertible into an aggregate of 184,891,318 shares of Ste
Second Quarter 2023 Results Net revenue from continuing operations totaled $50.8 million, as compared to $54.3 million in the prior year. Net loss from continuing operations was $0.5 million, as compared to net loss from continuing operations of $1.5 million in the prior year. Net loss attributable to common stockholders was $1.1 million, as compared to net loss attributable to common stockholders of $23.5 million in the prior year. Adjusted EBITDA* was $4.6 million, as compared to $1.8 million in the prior year. Net cash provided by operating activities was $1.3 million. Free Cash Flow* totaled $1.0 million. Total debt, net of unamortized discounts and issuance costs, was $12
First Quarter 2023 Results Net revenue from continuing operations totaled $51.4 million, as compared to $44.4 million in the prior year. Net income from continuing operations was $5.0 million, as compared to net loss from continuing operations of $1.0 million in the prior year. Net income attributable to common stockholders was $4.4 million, as compared to net loss attributable to common stockholders of $20.0 million in the prior year. Adjusted EBITDA* was $7.3 million, as compared to $0.6 million in the prior year. Net cash provided by operating activities was $8.3 million. Free Cash Flow* totaled $7.7 million. Total debt, net of unamortized discounts and issuance costs, was
4 - Steel Connect, Inc. (0000914712) (Issuer)
4 - Steel Connect, Inc. (0000914712) (Issuer)
4 - Steel Connect, Inc. (0000914712) (Issuer)
4 - Steel Connect, Inc. (0000914712) (Issuer)
4 - Steel Connect, Inc. (0000914712) (Issuer)
4 - Steel Connect, Inc. (0000914712) (Issuer)
4 - Steel Connect, Inc. (0000914712) (Issuer)
4 - Steel Connect, Inc. (0000914712) (Issuer)
4 - Steel Connect, Inc. (0000914712) (Issuer)
4 - Steel Connect, Inc. (0000914712) (Issuer)
15-12G - Steel Connect, Inc. (0000914712) (Filer)
SCHEDULE 13D - Steel Connect, Inc. (0000914712) (Subject)
S-8 POS - Steel Connect, Inc. (0000914712) (Filer)
SC 13E3/A - Steel Connect, Inc. (0000914712) (Subject)
8-K - Steel Connect, Inc. (0000914712) (Filer)
SC 13E3/A - Steel Connect, Inc. (0000914712) (Subject)
SC 13E3/A - Steel Connect, Inc. (0000914712) (Subject)
8-K - Steel Connect, Inc. (0000914712) (Filer)
8-K - Steel Connect, Inc. (0000914712) (Filer)
10-Q - Steel Connect, Inc. (0000914712) (Filer)
SMYRNA, Tenn.--(BUSINESS WIRE)--Steel Connect, Inc. (the “Company”) (Nasdaq: STCN), today announced that its Board of Directors (the “Board”) amended its tax benefits preservation plan, dated as of January 19, 2018 (the “Plan”), to extend the term of the Plan to January 8, 2024 (subject to earlier expiration, as described below). The Company has significant net operating loss carryforwards for federal and state tax purposes and believes that its ability to utilize these net operating loss carryforwards and other tax attributes (collectively, “Tax Benefits”) would be substantially limited if the Company undergoes an “ownership change” (within the meaning of Section 382 of the Intern