Net income

The General Assembly of Arab Palestinian Investment Company (APIC) ratifies dividend distribution to its shareholders amounting to USD 16 million, 16.65% of APIC's paid-in capital

Thursday, May 6, 2021 - 12:00pm

b"RAMALLAH, Palestine, May 6, 2021 /PRNewswire/ -- Arab Palestinian Investment Company (APIC) held its ordinary general assembly on Wednesday, May 5, 2021, in Ramallah, Palestine.

Key Points: 
  • b"RAMALLAH, Palestine, May 6, 2021 /PRNewswire/ -- Arab Palestinian Investment Company (APIC) held its ordinary general assembly on Wednesday, May 5, 2021, in Ramallah, Palestine.
  • In its meeting, the general assembly ratified dividend distribution for registered shareholders as of May 4, 2021, of 16.65% of APIC's paid-in capital amounting to USD 96.2 million to date, 7.5% as cash dividends amounting to USD 7.215 million and 9.147 % as 8.8 million in bonus shares.
  • Total revenues reached USD 958.2 million in 2020, a growth of 16% compared to 2019.
  • The group's net profits grew by 12.8% to reach USD 24.64 million, while net profits attributed to APIC shareholders rose by 11% and amounted to USD 19.86million.

ALLETE, Inc. Reports First Quarter Earnings of 99 Cents per Share

Thursday, May 6, 2021 - 11:30am

b'ALLETE, Inc. (NYSE: ALE) today reported first quarter 2021 earnings of 99 cents per share on net income of $51.8 million.

Key Points: 
  • b'ALLETE, Inc. (NYSE: ALE) today reported first quarter 2021 earnings of 99 cents per share on net income of $51.8 million.
  • Last year\xe2\x80\x99s results were $1.28 per share on net income of $66.3 million.
  • The timing of income taxes and operating and maintenance expense in 2021 negatively impacted the quarter compared to internal expectations by approximately 15 cents per share, which are expected to reverse during the remainder of the year.
  • Net income at SWL&P and our after-tax equity earnings in ATC were similar to 2020.\nALLETE Clean Energy recorded first quarter 2021 net income of $7.4 million compared to $11.7 million in 2020.

Sprague Resources LP Reports First Quarter 2021 Results

Thursday, May 6, 2021 - 11:00am

b'PORTSMOUTH, N.H., May 06, 2021 (GLOBE NEWSWIRE) -- Sprague Resources LP (\xe2\x80\x9cSprague\xe2\x80\x9d) (NYSE: SRLP) today reported its financial results for the first quarter ended March\xc2\xa031, 2021.\nNet sales were $1,036.1 million for the first quarter of 2021, compared to net sales of $959.9 million for the first quarter of 2020.\nGAAP net income was $48.8 million for the first quarter of 2021, compared to net income of $46.7 million for the first quarter of 2020.\nAdjusted gross margin* was $106.2 million for the first quarter of 2021, compared to adjusted gross margin of $83.1 million for the first quarter of 2020.\nAdjusted EBITDA* was $61.8 million for the first quarter of 2021, compared to adjusted EBITDA of $42.4 million for the first quarter of 2020.\n\xe2\x80\x9cSprague\xe2\x80\x99s Adjusted EBITDA increased by 46% over last year as our Refined Products and Natural Gas businesses captured opportunities associated with the modestly colder weather.

Key Points: 
  • b'PORTSMOUTH, N.H., May 06, 2021 (GLOBE NEWSWIRE) -- Sprague Resources LP (\xe2\x80\x9cSprague\xe2\x80\x9d) (NYSE: SRLP) today reported its financial results for the first quarter ended March\xc2\xa031, 2021.\nNet sales were $1,036.1 million for the first quarter of 2021, compared to net sales of $959.9 million for the first quarter of 2020.\nGAAP net income was $48.8 million for the first quarter of 2021, compared to net income of $46.7 million for the first quarter of 2020.\nAdjusted gross margin* was $106.2 million for the first quarter of 2021, compared to adjusted gross margin of $83.1 million for the first quarter of 2020.\nAdjusted EBITDA* was $61.8 million for the first quarter of 2021, compared to adjusted EBITDA of $42.4 million for the first quarter of 2020.\n\xe2\x80\x9cSprague\xe2\x80\x99s Adjusted EBITDA increased by 46% over last year as our Refined Products and Natural Gas businesses captured opportunities associated with the modestly colder weather.
  • The distribution will be paid on May\xc2\xa010, 2021 to unitholders of record as of the close of business on May\xc2\xa04, 2021.\nManagement will review Sprague\xe2\x80\x99s first quarter 2021 financial results in a teleconference call for analysts and investors today, May\xc2\xa06, 2021 at 1:00 PM EST.\nParticipants can dial in up to 30 minutes prior to the start of the call.
  • These are not all of the important factors that could cause actual results to differ materially from those expressed in forward looking statements.
  • Sprague undertakes no obligation and does not intend to update any forward-looking statements to reflect new information or future events.

Magna Announces First Quarter 2021 Results

Thursday, May 6, 2021 - 10:00am

In our two largest markets of North America and Europe, production was substantially level and increased 5%, respectively, compared to the first quarter of 2020.\nAdjusted EBIT of $770 million in the first quarter of 2021 increased 91% from the first quarter of 2020, driven by higher sales and higher Adjusted EBIT as a percentage of sales.

Key Points: 
  • In our two largest markets of North America and Europe, production was substantially level and increased 5%, respectively, compared to the first quarter of 2020.\nAdjusted EBIT of $770 million in the first quarter of 2021 increased 91% from the first quarter of 2020, driven by higher sales and higher Adjusted EBIT as a percentage of sales.
  • Adjusted EBIT as a percentage of sales increased to 7.6% in the first quarter of 2021 compared to 4.7% in the first quarter of 2020.\nIncome from operations before income taxes was $805 million for the first quarter of 2021 compared to $386 million in the first quarter of 2020.\xc2\xa0 Included in Income from operations before income taxes in the first quarter of 2021 were Other income, net items totaling $58 million, comprised of gains on business combinations and unrealized gains on the revaluations of investments, partially offset by restructuring costs.
  • Excluding Other income, net from the first quarter of 2021, income from operations before income taxes increased $361 million in the first quarter of 2021 compared to the first quarter of 2020.\nNet income attributable to Magna International Inc. was $615 million for the first quarter of 2021 compared to $261 million in the first quarter of 2020.\xc2\xa0 Included in net income attributable to Magna International Inc. in the first quarter of 2021 were Other income, net items totaling $49 million after tax.
  • Excluding Other income, net from the first quarter of 2021, net income attributable to Magna International Inc. increased $305 million in the first quarter of 2021 compared to the first quarter of 2020.\nDiluted earnings per share increased to $2.03 in the first quarter of 2021, compared to $0.86 in the comparable period and Adjusted diluted earnings per share increased 116% to $1.86 compared to $0.86.\nIn the first quarter of 2021, we generated cash from operations before changes in operating assets and liabilities of $1.03 billion, and used $372 million in operating assets and liabilities.

The General Assembly of Arab Palestinian Investment Company (APIC) ratifies dividend distribution to its shareholders amounting to USD 16 million, 16.65% of APIC's paid-in capital

Thursday, May 6, 2021 - 7:00am

b"RAMALLAH, Palestine, May 6, 2021 /PRNewswire/ -- Arab Palestinian Investment Company (APIC) held its ordinary general assembly on Wednesday, May 5, 2021, in Ramallah, Palestine.

Key Points: 
  • b"RAMALLAH, Palestine, May 6, 2021 /PRNewswire/ -- Arab Palestinian Investment Company (APIC) held its ordinary general assembly on Wednesday, May 5, 2021, in Ramallah, Palestine.
  • In its meeting, the general assembly ratified dividend distribution for registered shareholders as of May 4, 2021, of 16.65% of APIC's paid-in capital amounting to USD 96.2 million to date, 7.5% as cash dividends amounting to USD 7.215 million and 9.147 % as 8.8 million in bonus shares.
  • Total revenues reached USD 958.2 million in 2020, a growth of 16% compared to 2019.
  • The group's net profits grew by 12.8% to reach USD 24.64 million, while net profits attributed to APIC shareholders rose by 11% and amounted to USD 19.86million.

NL REPORTS FIRST QUARTER 2021 RESULTS

Wednesday, May 5, 2021 - 9:20pm

b"Dallas, Texas, May 05, 2021 (GLOBE NEWSWIRE) -- NL Industries, Inc. (NYSE: NL) today reported net income attributable to NL stockholders of $13.3 million, or $.27 per share, in the first quarter of 2021 compared to net income attributable to NL stockholders of $1.9 million, or $.04 per share, in the first quarter of 2020.\xc2\xa0 NL results include an unrealized gain of $6.4 million in the first quarter of 2021 related to the change in value of marketable equity securities compared to an unrealized loss of $12.1 million in the first quarter of 2020.\nCompX net sales were $35.9 million in the first quarter of 2021 compared to $32.3 million in the first quarter of 2020.\xc2\xa0 CompX net sales increased primarily due to higher Marine Component sales to the towboat market and to a lesser extent higher Security Products sales.

Key Points: 
  • b"Dallas, Texas, May 05, 2021 (GLOBE NEWSWIRE) -- NL Industries, Inc. (NYSE: NL) today reported net income attributable to NL stockholders of $13.3 million, or $.27 per share, in the first quarter of 2021 compared to net income attributable to NL stockholders of $1.9 million, or $.04 per share, in the first quarter of 2020.\xc2\xa0 NL results include an unrealized gain of $6.4 million in the first quarter of 2021 related to the change in value of marketable equity securities compared to an unrealized loss of $12.1 million in the first quarter of 2020.\nCompX net sales were $35.9 million in the first quarter of 2021 compared to $32.3 million in the first quarter of 2020.\xc2\xa0 CompX net sales increased primarily due to higher Marine Component sales to the towboat market and to a lesser extent higher Security Products sales.
  • \xc2\xa0Fluctuations in currency exchange rates (primarily the euro) also affected net sales comparisons, increasing net sales by approximately $20 million in the first quarter of 2021 compared to the first quarter of 2020.\xc2\xa0 The table at the end of this press release shows how each of these items impacted the overall change in Kronos\xe2\x80\x99 net sales.\nKronos\xe2\x80\x99 income from operations in the first quarter of 2021 was $34.0 million as compared to $43.5 million in the first quarter of 2020.\xc2\xa0 Kronos\xe2\x80\x99 income from operations decreased in the first quarter of 2021 compared to the first quarter of 2020 primarily due to lower income from operations resulting from the net effects of fluctuations in currency exchange rates, which decreased income from operations by approximately $16 million in the first quarter of 2021 as compared to the first quarter of 2020, lower average TiO2 selling prices, higher sales volumes and lower production costs.\xc2\xa0 Due to the phase-out of sulfate production at one of Kronos\xe2\x80\x99 facilities in the fourth quarter of 2020, Kronos\xe2\x80\x99 TiO2 production volumes were 1% lower in the first quarter of 2021 as compared to the first quarter of 2020.
  • \xc2\xa0Kronos operated its production facilities at overall average capacity utilization rates of 97% and 95% in the first quarters of 2021 and 2020, respectively.\nKronos\xe2\x80\x99 other income (expense) in the first quarter of 2020 includes a pre-tax insurance settlement gain of $1.5 million (NL\xe2\x80\x99s equity interest was $.4 million, or $.01 per share, net of income tax expense) related to a property damage claim.\nCorporate expenses decreased $.7 million in the first quarter of 2021 compared to the first quarter of 2020 primarily due to lower litigation fees and related costs and lower administrative expenses.
  • Interest and dividend income decreased $.7 million in the first quarter of 2021 compared to the first quarter of 2020 primarily due to lower dividend income and lower interest income related to lower average interest rates on invested balances and lower average interest rates, and to a lesser extent lower average outstanding balances, under CompX\xe2\x80\x99s revolving promissory note receivable from Valhi.

Oconee Financial Corporation Reports First Quarter 2021 Results

Wednesday, May 5, 2021 - 9:01pm

b'WATKINSVILLE, Ga., May 5, 2021 /PRNewswire/ --Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the first quarter of 2021.

Key Points: 
  • b'WATKINSVILLE, Ga., May 5, 2021 /PRNewswire/ --Oconee Financial Corporation ("Oconee") (OTCQX: OSBK) is pleased to report results for the first quarter of 2021.
  • Unaudited net income for the three months ending March 31, 2021, was $824,221 or $0.92 per common share.
  • This represents a 452% increase in net earnings in the first quarter of 2021 as compared to the same period in 2020.
  • In February 2021, Oconee State bank celebrated 61 years of service and continues to be the only locally owned and operated community bank headquartered in Oconee County.

CareDx Reports First Quarter 2021 Results

Wednesday, May 5, 2021 - 9:01pm

"\nRevenue for the three months ended March\xc2\xa031, 2021 was $67.4 million, an increase of 76% compared with $38.4 million in the first quarter of 2020.

Key Points: 
  • "\nRevenue for the three months ended March\xc2\xa031, 2021 was $67.4 million, an increase of 76% compared with $38.4 million in the first quarter of 2020.
  • Digital and other revenue for the first quarter of 2021 was $2.3 million.\nFor the first quarter of 2021, net loss was $0.7 million compared to a net loss of $5.8 million in the same period of 2020.
  • Basic and diluted net loss per share was $0.01 in the first quarter of 2021, compared to basic and diluted net loss per share of $0.14 in the first quarter of 2020.\nNon-GAAP net income was $7.2 million in the first quarter of 2021 compared to a $0.2 million non-GAAP net income in the first quarter of 2020.
  • Diluted non-GAAP net income per share was $0.14 in the first quarter of 2021, compared to a diluted non-GAAP net income per share of $0.00 in the first quarter of 2020.\nAdjusted EBITDA for the first quarter of 2021 was a gain of $7.7 million, compared to an adjusted EBITDA gain of $0.2 million in the first quarter of 2020.\nCash, cash equivalents & marketable securities were\xc2\xa0$374.3 million\xc2\xa0as of\xc2\xa0March\xc2\xa031, 2021.

Natural Health Trends Reports First Quarter 2021 Financial Results

Wednesday, May 5, 2021 - 2:00pm

Sharng continued, \xe2\x80\x9cThat said, our first quarter order trends sustained positive momentum with order volume approaching levels achieved in the prior year quarter.\xc2\xa0A\xc2\xa0strong contributor to our order volume was our January in-person training event which attracted nearly\xc2\xa0700 participants.

Key Points: 
  • Sharng continued, \xe2\x80\x9cThat said, our first quarter order trends sustained positive momentum with order volume approaching levels achieved in the prior year quarter.\xc2\xa0A\xc2\xa0strong contributor to our order volume was our January in-person training event which attracted nearly\xc2\xa0700 participants.
  • We also saw notable progress in Japan, India, Peru, Europe and Malaysia which all experienced strong top-line growth year-over-year.
  • In addition, our diligent expense management resulted in our fourth consecutive quarter of positive operating income and net income, in addition to our second consecutive quarter of positive cash flow generation.\xe2\x80\x9d\nMr.
  • The dividend will be payable on May 28, 2021 to stockholders of record as of May 18, 2021.\nManagement will host a conference call to discuss the\xc2\xa0first quarter\xc2\xa02021 financial results today, Wednesday, May 5, 2021\xc2\xa0at 11:30 a.m.\xc2\xa0Eastern Time.

Investors Title Company Announces Record First Quarter 2021 Results

Wednesday, May 5, 2021 - 1:29pm

b'Investors Title Company today announced record results for the quarter ended March 31, 2021.

Key Points: 
  • b'Investors Title Company today announced record results for the quarter ended March 31, 2021.
  • The Company set quarterly records for total revenues, net premiums written and net income.\nRevenues for the quarter increased 141.1% to $72.1 million, compared to $29.9 million in the prior year period.
  • Overall, the quarter was shaped by a continuation of the trends that began last year following the onset of the pandemic.
  • These statements involve a number of risks and uncertainties that could cause actual results to differ materially from anticipated and historical results.