4 - Orbital Infrastructure Group, Inc. (0001108967) (Issuer)

4 - Orbital Infrastructure Group, Inc. (0001108967) (Issuer)

Third Quarter Summary Revenues of $99.8 million compared to $24.8 million for the third quarter of 2021;Adjusted EBITDA loss from continuing operations of $14.6 million compared to a loss of $6.3 million in the third quarter of 2021; excluding the results of the renewables segment, adjusted EBITDA for the third quarter of 2022 was a positive $6.0 million;Backlog of $472.3 million as of September 30, 2022, up 15% from the third quarter of 2021, with $265.9 million expected to be recognized in the next twelve months; Non-cash impairment charges of $104.7 million related to goodwill, other intangible assets and financed leased assets due to the company's book value to market value evaluation an

HOUSTON, Nov. 8, 2022 /PRNewswire/ -- Orbital Infrastructure Group, Inc. ("OIG") (NASDAQ:OIG) today announced that it will release its third-quarter 2022 financial results prior to market open on Monday, November 14, 2022, and will be hosting an investor conference call and live webcast on the same day beginning at 9:00 am ET.  Speakers on the call will include Jim O'Neil, Vice Chairman and Chief Executive Officer, and Nick Grindstaff, Chief Financial Officer. Conference Call / Webcast Information For those planning to participate on the call, please dial +1 (800) 715-9871(dom

Record Quarterly Revenue of $93.9 Million Raises Full-Year 2022 Revenue Guidance to a Range of $405 Million to $450 Million HOUSTON, Aug. 11, 2022 /PRNewswire/ -- Orbital Infrastructure Group, Inc. (NASDAQ:OIG) ("Orbital Infrastructure" or the "Company") today reported its financial results for the second quarter ended June 30, 2022. Second Quarter Summary Revenues of $93.9 million, compared to $70.3 million in the prior quarter and $11.5 million for the second quarter of 2021;Gross profit of $9.8 million compared to a gross loss of $2.9 million in the second quarter of 2021;

HOUSTON, Aug. 8, 2022 /PRNewswire/ -- Orbital Infrastructure Group, Inc. (NASDAQ:OIG) ("Orbital Infrastructure" or the "Company") today announced that it will issue its financial results for the second quarter ended June 30, 2022 before the market opens on Thursday, August 11, 2022. Orbital Infrastructure Vice Chairman and CEO Jim O'Neil and CFO Nick Grindstaff will host a conference call to discuss the results on Thursday, August 11, 2022, at 8:30 am ET. To access the call, please dial (412) 317-1826. A live webcast of the conference call can be accessed via the Investor Rela

Receives Commitment from Existing Secured Lenders for $15.0 Million in Debtor-in-Possession Financing HOUSTON, Aug. 23, 2023 /PRNewswire/ -- Orbital Infrastructure Group Inc. (NASDAQ:OIG) (the "Company"), announced today that it and certain of its subsidiaries (Orbital Solar Services, L.L.C., Orbital Power, Inc., Orbital Gas Systems, North America, and Eclipse Foundation Group, Inc.) have filed voluntary Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"). The filing specifically excludes Front Line Power Construction ("FLP") and Gibson Technical Services ("GTS"), which are being sold separately as described below.

HOUSTON, Aug. 23, 2023 /PRNewswire/ -- Orbital Infrastructure Group Inc. (NASDAQ:OIG) (the "Company"), today announced that it received a letter from The Nasdaq Stock Market LLC ("Nasdaq") on August 18, 2023 notifying the Company that (i) the Company's failure to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, in violation of Nasdaq's continued listing requirements under Nasdaq Listing Rule 5250(c)(1), serves as an additional basis for delisting the Company's securities from Nasdaq, and (ii) the Nasdaq Hearings Panel will consider this matter in rendering a determination regarding the Company's continued listing on Nasdaq. As previously disclosed, on December 28,

HOUSTON, May 16, 2023 /PRNewswire/ -- Orbital Infrastructure Group, Inc. ("OIG")  (NASDAQ:OIG), today announced financial results for the first quarter of 2023. The Company also announced that its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, was filed with the SEC on May 15, 2023. First Quarter 2023 Summary Financial Results Revenue of $80.2 million compared to $70.3 million in the first quarter of 2022.Adjusted EBITDA from continuing operations (a non-GAAP measure) was $5.6 million for the three months ended March 31, 2023, compared to $3.8 million for

Shareholders Approved Reverse Split Proposal HOUSTON, April 18, 2023 /PRNewswire/ -- Orbital Infrastructure Group, Inc. ("OIG")  (NASDAQ:OIG), ("the Company"), today announced  that at the Special Meeting of Shareholders for Orbital Infrastructure Group, Inc. on April 18, 2023, the Company's shareholders approved all proposals presented including: Proposal 1, an amendment to our Certificate of Formation to effect a reverse stock split of our outstanding Common Stock at a reverse stock split ratio ranging from any whole number between 1-for-10 and 1-for-40, subject to and as determined by the Board of Directors.  The board of directors resolved that pursuant to the proposal approved by the sh

HOUSTON, April 10, 2023 /PRNewswire/ -- Orbital Infrastructure Group, Inc. ("OIG") (NASDAQ:OIG), today announced financial results for the fiscal year 2022. The Company also announced that its Annual Report on Form 10-K for the year ended December 31, 2022, was filed with the SEC on April 6, 2023. The Annual Report on Form 10-K is available in the "SEC Filings" section of OIG's website at www.orbitalinfrastructure.com, as well as on the SEC's website at www.sec.gov. Full Year 2022 Summary Financial ResultsRevenue of $322.2 million versus $82.9 million in fiscal year 2021.Net l

IMMCO expands broadband engineering & design staff,  and reaches employment milestone HOUSTON, Nov. 29, 2022 /PRNewswire/ -- Orbital Infrastructure Group, Inc. (NASDAQ:OIG) ("OIG") announced today that IMMCO, Inc,  a subsidiary of OIG's Telecom Platform, GTS, has achieved record sales through 3rd Quarter 2022.  IMMCO, based in Canton, GA, with offices in India, Europe and Australia, also reported the acquisition of new office space and the hiring of 60 new employees in Kochi, India, increasing their technical engineering staff to more than 800. Through September 30, 2022, GTS

Third Quarter Summary Revenues of $99.8 million compared to $24.8 million for the third quarter of 2021;Adjusted EBITDA loss from continuing operations of $14.6 million compared to a loss of $6.3 million in the third quarter of 2021; excluding the results of the renewables segment, adjusted EBITDA for the third quarter of 2022 was a positive $6.0 million;Backlog of $472.3 million as of September 30, 2022, up 15% from the third quarter of 2021, with $265.9 million expected to be recognized in the next twelve months; Non-cash impairment charges of $104.7 million related to goodwill, other intangible assets and financed leased assets due to the company's book value to market value evaluation an

HOUSTON, Nov. 8, 2022 /PRNewswire/ -- Orbital Infrastructure Group, Inc. ("OIG") (NASDAQ:OIG) today announced that it will release its third-quarter 2022 financial results prior to market open on Monday, November 14, 2022, and will be hosting an investor conference call and live webcast on the same day beginning at 9:00 am ET.  Speakers on the call will include Jim O'Neil, Vice Chairman and Chief Executive Officer, and Nick Grindstaff, Chief Financial Officer. Conference Call / Webcast Information For those planning to participate on the call, please dial +1 (800) 715-9871(dom

Challenges in Renewable Segment continue and lead to revised full year 2022 revenues of $350 million to $375 million, down from $405 million to $450 millionLowered full year 2022 adjusted EBITDA range to $4 million to $6 million, down from $38 million to $43 millionLower adjusted EBITDA outlook driven primarily by adverse impact of Black Bear solar project and attributable to operational and labor challenges and extreme weatherBlack Bear solar project expected to be substantially completed by year endSolar market remains robust and strategic shift to Specialized Contractor versus EPC Service Provider for our utility scale solar business well underway, with expectation of reducing risk and im

HOUSTON, Sept. 29, 2022 /PRNewswire/ -- Orbital Infrastructure Group, Inc. ("OIG") (NASDAQ:OIG) today announced that its wholly-owned subsidiary, Orbital Power Inc., is providing nine electric distribution crews and associated resources to assist customers in repairing damaged electric utility and telecommunication infrastructure in the aftermath of Hurricane Ian, one of the most powerful hurricanes ever to hit Florida. OIG's Vice-Chairman and CEO, Jim O'Neil, commented, "We have experienced a high level of demand for our emergency response crews and positioned our skilled wor