Recessions

DGAP-News: Infineon Technologies AG: POSITIVE EARNINGS AND FREE CASH FLOW DEVELOPMENT. INCREASE IN REVENUE DESPITE DIFFICULT SUPPLY ENVIRONMENT. STRONG FINAL QUARTER EXPECTED

Retrieved on: 
Tuesday, August 3, 2021
Eurozone crisis, Recessions, Economy of the Arab League

The adjusted gross margin for the three-month period under report came in at 41.8 percent, up from 39.3 percent in the preceding quarter.

Key Points: 
  • The adjusted gross margin for the three-month period under report came in at 41.8 percent, up from 39.3 percent in the preceding quarter.
  • The financial result amounted to minus 56 million compared with minus 42 million in the previous quarter.
  • Free cash flow continued to improve in the third quarter of the current fiscal year, rising to 477 million, compared with 407 million in the previous quarter.
  • At the level of revenue currently forecast, the Segment Result Margin is expected to come in at about 19 percent.

Medallion Financial Corp. Reports 2021 Second Quarter Results

Retrieved on: 
Monday, August 2, 2021
American people of German descent, Andrew M. Murstein, Recessions

NEW YORK, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN, Medallion or the Company), a finance company that originates and services loans in various consumer and commercial industries, announced today its 2021 second quarter results.

Key Points: 
  • NEW YORK, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN, Medallion or the Company), a finance company that originates and services loans in various consumer and commercial industries, announced today its 2021 second quarter results.
  • Medallion Bank net income was a record $17.5 million for the quarter, compared to $1.8 million in the prior year quarter.
  • Net income for the second quarter was $15.8 million, compared to $8.6 million in the 2020 second quarter.
  • As announced on July 15, 2021, the Company will host a conference call to discuss its second quarter financial results on Tuesday, August 3, 2021, at 9:00 a.m. Eastern time.

Capital Southwest Announces Financial Results for First Fiscal Quarter Ended June 30, 2021 and Announces Increase in Total Dividends to $0.54 per share for the Quarter Ended September 30, 2021

Retrieved on: 
Monday, August 2, 2021
Recessions, Eurozone crisis, Economy of Australia, Economic policy of the Donald Trump administration

For the quarter ended June 30, 2021, Capital Southwest reported total investment income of $18.6 million, compared to $17.2 million in the prior quarter.

Key Points: 
  • For the quarter ended June 30, 2021, Capital Southwest reported total investment income of $18.6 million, compared to $17.2 million in the prior quarter.
  • For the quarter ended June 30, 2021, interest expense was $5.0 million as compared to $4.7 million in the prior quarter.
  • For the quarter ended June 30, 2021, total pre-tax net investment income was $9.4 million, compared to $8.9 million in the prior quarter.
  • For the quarter ended June 30, 2021, Capital Southwest had tax expense of $0.4 million as compared to $0.9 million in the previous quarter.

Capital Product Partners L.P. Announces Second Quarter 2021 Financial Results

Retrieved on: 
Friday, July 30, 2021
Recessions

Total revenue was $39.8 million for the quarter ended June 30, 2021, compared to $36.6 million during the second quarter of 2020.

Key Points: 
  • Total revenue was $39.8 million for the quarter ended June 30, 2021, compared to $36.6 million during the second quarter of 2020.
  • Total expenses for the quarter ended June 30, 2021 were $25.6 million, compared to $22.7 million in the second quarter of 2020.
  • Total vessel operating expenses during the second quarter of 2021 amounted to $11.7 million, compared to $9.0 million during the second quarter of 2020.
  • The second quarter of 2021 saw further increases in container charter rates with continuous positive momentum building up beyond the second quarter of 2021.

Federal Signal Raises Full-Year Outlook After Reporting 79% Increase in Orders and Record Backlog in Strong Second Quarter; Expecting Long-Term Benefits From Infrastructure Legislation

Retrieved on: 
Thursday, July 29, 2021
Recessions

In the Environmental Solutions Group, net sales for the second quarter were $281 million, up $67 million, or 31%, compared to the prior-year quarter.

Key Points: 
  • In the Environmental Solutions Group, net sales for the second quarter were $281 million, up $67 million, or 31%, compared to the prior-year quarter.
  • Consolidated operating income for the second quarter was $38.5 million, up $7.2 million, or 23%, compared to the prior-year quarter.
  • Consolidated orders for the second quarter were $361 million, up $159 million, or 79%, compared to the prior-year quarter.
  • Federal Signal will host its second quarter conference call on Thursday, July 29, 2021 at 10:00 a.m. Eastern Time.

U.S. Home Sale Profits Remain High But Take Unusual Fall In Second Quarter

Retrieved on: 
Thursday, July 29, 2021
Recessions

That was up from $90,000 in the first quarter of 2021 and from $60,572 in the second quarter of 2020.

Key Points: 
  • That was up from $90,000 in the first quarter of 2021 and from $60,572 in the second quarter of 2020.
  • That was up 11 percent from $275,200 in the first quarter of 2021 and 22 percent from $250,000 in the second quarter of 2020.
  • "Prices and profits from the second quarter painted yet another picture of a housing market in high gear except for one thing.
  • Among metro areas with sufficient data, 90 percent saw decreases in average tenure from the second quarter of 2020 to the second quarter of 2021.

Surrey Bancorp Reports Second Quarter Net Income of $1,093,784

Retrieved on: 
Wednesday, July 28, 2021
Expense, Interest expense, Recessions, Economy of the United States

Net interest income increased from $2,877,332 in the second quarter of 2020 to $3,270,663 in the second quarter of 2021.

Key Points: 
  • Net interest income increased from $2,877,332 in the second quarter of 2020 to $3,270,663 in the second quarter of 2021.
  • Interest income increased from $3,174,922 in the second quarter of 2020 to $3,393,790 in the second quarter of 2021.
  • Interest expense decreased from $297,590 in the second quarter of 2020 to $123,127 in the second quarter of 2021 due to general rate decreases.
  • Insurance commissions amounted to $180,580 in the second quarter of 2020 with no commission income in the second quarter of 2021.

Severn Bancorp, Inc. Announces Second Quarter Earnings

Retrieved on: 
Tuesday, July 27, 2021
Recessions, Economic impact of the COVID-19 pandemic, Economic history

Earnings per share on a fully diluted basis were $0.13 for the second quarter and $0.44 for the first six months of 2021 compared to $0.14 and $0.18, respectively, from the second quarter and first six months of 2020.

Key Points: 
  • Earnings per share on a fully diluted basis were $0.13 for the second quarter and $0.44 for the first six months of 2021 compared to $0.14 and $0.18, respectively, from the second quarter and first six months of 2020.
  • In this low interest rate environment very little can be earned on liquidity, so as a result, earnings were less than desired in the second quarter.
  • Net interest income was $7.0 million for the second quarter ended June 30, 2021 and $14.7 million for the six months ended June 30, 2021 compared to $6.6 million and $13.4 million for the same periods in 2020.
  • The Company recorded a reversal of provision of $(325) thousand for the second quarter ended June 30, 2021 and $(1.1) million for the six months ended June 30, 2021.

Lake Shore Bancorp, Inc. Announces 2021 Second Quarter and Year to Date Financial Results and Declares Dividend

Retrieved on: 
Monday, July 26, 2021
Recessions, Economy of the Arab League

2021 Second Quarter and Year to Date Financial Highlights:

Key Points: 
  • 2021 Second Quarter and Year to Date Financial Highlights:
    Net income of $1.0 million in the second quarter of 2021 decreased by $360,000, or 26.6%, when compared to the second quarter of 2020.
  • Second quarter 2021 net interest income increased $393,000, or 7.8%, to $5.4 million as compared to $5.0 million for the second quarter 2020.
  • Total average interest-earning assets increased by $53.8 million, or 11.0%, during the second quarter 2021 as compared to the second quarter 2020.
  • The provision for loan losses was $500,000 for second quarter 2021 as compared to $325,000 for second quarter 2020.

Traditions Bancorp, Inc. Reports Second Quarter 2021 Earnings

Retrieved on: 
Monday, July 26, 2021
Recessions

YORK, Pa., July 26, 2021 /PRNewswire/ --Traditions Bancorp, Inc. (OTC Pink: TRBK) reported net income of $2.0 million for the second quarter ended June 30, 2021, compared to $2.1 million for the second quarter of 2020.

Key Points: 
  • YORK, Pa., July 26, 2021 /PRNewswire/ --Traditions Bancorp, Inc. (OTC Pink: TRBK) reported net income of $2.0 million for the second quarter ended June 30, 2021, compared to $2.1 million for the second quarter of 2020.
  • On a per share basis, the bank reported 62 cents per share (diluted) for the second quarter ended June 30, 2021 compared to 67 cents per share for the second quarter of 2020.
  • The book value per common share was $21.70 on June 30, 2021 versus $19.08 for the second quarter of 2020.
  • "Pre-tax/pre-provision income for the quarter was $1.9 million versus $2.5 million for the second quarter ended June 30, 2020.