Steel Connect (NASDAQ:STCN) reported quarterly earnings of $2.51 per share. The company reported $43.85 million in sales this quarter. This is a 4.96 percent decrease over sales of $46.14 million the same period last year.
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4 - Steel Connect, Inc. (0000914712) (Issuer)
4 - Steel Connect, Inc. (0000914712) (Issuer)
4 - Steel Connect, Inc. (0000914712) (Issuer)
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
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
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)
Steel Connect (NASDAQ:STCN) reported quarterly earnings of $2.51 per share. The company reported $43.85 million in sales this quarter. This is a 4.96 percent decrease over sales of $46.14 million the same period last year.
Although U.S. stocks closed higher on Friday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform. Steel Connect The Trade: Steel Connect, Inc. (NASDAQ:STCN) 10% owner WF Asset Corp. acquired a total of 265,326 shares at an
Although U.S. stocks closed higher on Monday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform. Steel Connect The Trade: Steel Connect, Inc. (NASDAQ:STCN) 10% owner WF Asset Corp. acquired a total of 701,246 shares at an
13F-NT - Steel Connect, Inc. (0000914712) (Filer)
8-K - Steel Connect, Inc. (0000914712) (Filer)
10-K - 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