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Power Solutions International Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on:

Thursday, March 14, 2024

OTC Markets Group, Quarter, Tax, Second, Growth, Standard Chartered, EPS, Transport, Overalls, Uncommitted, Credit, Depreciation, GAAP, UFLPA, Engineering, Power, Life insurance

WOOD DALE, Ill., March 14, 2024 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced fourth quarter and full year 2023 financial results.

Key Points:

Gross profit decreased by $1.9 million, or 6%, during the fourth quarter of 2023 as compared to the same period in the prior year.
For both the fourth quarter of 2023 and 2022, warranty costs were $1.0 million.
Net income in the fourth quarter of 2023 was $8.4 million, or $0.36 per share, compared to net income of $9.3 million, or $0.40 per share for the fourth quarter of 2022.
Adjusted net income was $7.5 million, or Adjusted income per share of $0.34 in the fourth quarter of 2023, compared to Adjusted net income of $10.1 million, or Adjusted income per share of $0.44 for the fourth quarter of 2022.

Supply & Demand Chain Executive Recognizes Everstream Analytics Executives for Advancing Supply Chain Innovation

Retrieved on:

Monday, March 11, 2024

Everstream Analytics , the global supply chain predictive insights and risk analytics company, today announced that Supply & Demand Chain Executive, the only publication covering the entire global supply chain, has named Jon Bovit, Cassandra Seow and Alejandro Alfaro 2024 Pros to Know for their exceptional leadership and achievements in the industry.

Key Points:

Everstream Analytics , the global supply chain predictive insights and risk analytics company, today announced that Supply & Demand Chain Executive, the only publication covering the entire global supply chain, has named Jon Bovit, Cassandra Seow and Alejandro Alfaro 2024 Pros to Know for their exceptional leadership and achievements in the industry.
“Jon, Cassandra, and Alejandro continue to propel Everstream and our clients to the forefront of resilience innovation,” said David Northington, CEO of Everstream Analytics.
They've spent the last year (and more) creating safer, more efficient supply chains,” says Marina Mayer, editor-in-chief of Food Logistics and Supply & Demand Chain Executive.
These winners continue to go above and beyond to overcome challenges, advance supply chain management and make the impossible, possible.”

Former Assistant U.S. Trade Representative for Labor Affairs, Josh Kagan, Joins Kelley Drye & Warren's International Trade Practice

Retrieved on:

Thursday, February 29, 2024

Kagan, USTR, Assistant, International trade, Kelley Drye & Warren, Government, Collective bargaining, UFLPA, Policy

Josh joins the firm from the Office of the United States Trade Representative's (USTR) Office of Labor Affairs, where he served as Assistant USTR for Labor Affairs.

Key Points:

Josh joins the firm from the Office of the United States Trade Representative's (USTR) Office of Labor Affairs, where he served as Assistant USTR for Labor Affairs.
Josh is a widely recognized expert in international trade and labor policy and has spent his career advocating for U.S. labor priorities," said John Herrmann, Chair of Kelley Drye's International Trade practice.
The firm has been working at the intersection of international trade and labor for over 20 years, and has a market leading forced labor trade enforcement practice.
Kelley Drye's Forced Labor Trade Enforcement team aims to provide clients with the best advice and the best service to manage forced labor trade enforcement needs.

Anza Launches New Features That Enable Rapid Comparison For Solar Module Buyers to Evaluate Risk and Increase Project Value

Retrieved on:

Tuesday, February 27, 2024

Controlled Substances Act, Risk, Weather, Database, UFLPA, Online shopping

OAKLAND, Calif., Feb. 27, 2024 /PRNewswire/ -- Anza, a leading solar and energy storage procurement platform, today introduced expanded capabilities that give buyers the ability to instantly organize and rank every technical, commercial, supply chain, and risk-related aspect of equipment required to select the ideal modules for solar projects. Anza's offering will introduce a new era of confidence and efficiency for developers, IPPs, and EPCs with instantaneous, granular insights into products and suppliers to help meet project deadlines, minimize risk, and maximize purchasing power.

Key Points:

"We find ourselves at a pivotal moment as solar industry growth, project deployments and technology improvements are all accelerating," says Mike Hall, CEO of Anza.
This is compounded by increasingly prevalent trade and import risks, which can derail project schedules and negatively impact the bottom line.
Access to financial and basic technical and risk criteria, with advanced technical and risk-related data available to Anza customers.
"The Anza platform allowed us to quickly narrow down our solar module options," says Brian Kirk, Principal, Alluvial Power.

U.S. Department of Labor Selects Sayari to Combat Forced Labor

Retrieved on:

Thursday, January 4, 2024

Technology, Labor, Homeland Security, Security, Transport, Public Policy, Government, Software, White House, Federal Government, Logistics, Supply Chain Management, ILAB, CBP, Risk, UFLPA

Sayari , a supply chain and counterparty risk intelligence company, has been selected by the U.S. Department of Labor (DOL) Bureau of International Labor Affairs (ILAB) as a key partner in efforts to mitigate the use of forced labor through import regulation.

Key Points:

Sayari , a supply chain and counterparty risk intelligence company, has been selected by the U.S. Department of Labor (DOL) Bureau of International Labor Affairs (ILAB) as a key partner in efforts to mitigate the use of forced labor through import regulation.
After a competitive evaluation process, ILAB has chosen Sayari Graph to uncover forced labor risk in supply chains and corporate networks.
The department joins U.S. Customs and Border Protection (CBP) as the second member of the Forced Labor Enforcement Task Force (FLETF) to select Sayari as a partner in forced labor mitigation.
“We are proud to partner with DOL to investigate suspected ties to forced labor,” said Farley Mesko, Sayari CEO and co-founder.

Enlight Renewable Energy Reports Third Quarter 2023 Financial Results

Retrieved on:

Monday, November 20, 2023

TEL AVIV, Israel, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Enlight Renewable Energy Ltd. (NASDAQ: ENLT, TASE: ENLT) today reported financial results for the third quarter ended September 30, 2023.

Key Points:

In addition to the above, the Company sold $5m of electricity in projects treated as financial assets in the third quarter.
In the third quarter of 2023, the Company’s net income increased to $26m, a growth rate of 35% year over year.
In the third quarter of 2023, the Company’s Adjusted EBITDA grew by 32% to $47m compared to $36m for the same period in 2022.
We recognized a gain of $3m in the third quarter and expect to recognize an additional gain of $2m in the fourth quarter.

Power Solutions International Announces Third Quarter 2023 Financial Results

Retrieved on:

Thursday, November 9, 2023

EBITDA, Uncommitted, Engineering, OTC Markets Group, Second, WOOD, Tax, Depreciation, Research, EPS, UFLPA, GAAP, Credit, Natural borrowing limit, Standard Chartered, Transport, Rare-earth element, Real estate, Adjustment

WOOD DALE, Ill., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announces third quarter 2023 financial results.

Key Points:

WOOD DALE, Ill., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the “Company” or “PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announces third quarter 2023 financial results.
Gross profit increased by $3.8 million, or 16%, during the third quarter of 2023 as compared to the same period in the prior year.
Net income in the third quarter of 2023 was $7.8 million, or $0.34 per share, compared to net income of $3.2 million, or $0.14 per share for the third quarter of 2022.
The Company is working to mitigate the impact of this delay for the remainder of 2023 and going forward.

Everstream Analytics Wins 2023 Top Software & Tech Award for UFLPA Forced Labor Visibility Solution

Retrieved on:

Wednesday, December 6, 2023

Supply Chain Management, Data Management, Retail, Technology, Logistics, Transport, Software, TMS, Robotics, Food, UFLPA, Small business, Automation, Supply, ERP, Demand, Legislation, WMS, Warehouse

Everstream Analytics , the global supply chain predictive insights and risk analytics company, is recognized today as a winner of this year’s Top Software & Tech award by Food Logistics and Supply & Demand Chain Executive for its Uyghur Forced Labor Prevention Act (UFLPA) forced labor visibility solution.

Key Points:

Everstream Analytics , the global supply chain predictive insights and risk analytics company, is recognized today as a winner of this year’s Top Software & Tech award by Food Logistics and Supply & Demand Chain Executive for its Uyghur Forced Labor Prevention Act (UFLPA) forced labor visibility solution.
Uncovering and eliminating forced labor within the supply chain is a global imperative and major focus for Everstream, who has been recognized as the world’s first Slave-Free Alliance-validated modern slavery and forced labor technology provider.
UFLPA is a law that prevents goods made with forced labor in the Xinjiang Uyghur Autonomous Region of China from entering the U.S. market.
“The ongoing use of forced labor within the global supply chain is unacceptable,” said Julie Gerdeman, CEO of Everstream Analytics.

PIP Global Safety Selects TrusTrace to Support Corporate Sustainability Initiatives, Including UFLPA Law Compliance

Retrieved on:

Thursday, November 9, 2023

UFLPA, Manufacturing, Personal, Operation, Personal protective equipment, PPE, Software, Risk, Partnership, PIP, Collection, Map, Software as a service, Medical device, Clothing

STOCKHOLM, Nov. 9, 2023 /PRNewswire/ -- TrusTrace, a global SaaS (Software as a Service) company with a market-leading platform for supply chain traceability and compliance data management, today announced that PIP Global Safety, a leading supplier of protective workwear equipment with over 30 brands globally, has selected the TrusTrace platform to support its traceability needs, including evidence collection to prove compliance for the UFLPA (Uyghur Forced Labor Prevention Act).

Key Points:

"Our goal is to support global brands with the traceability data they need to succeed," TrusTrace CEO and Co-Founder Shameek Ghosh said.
"PIP Global Safety is a leading provider of head-to-toe safety solutions.
PIP Global Safety previously managed their supply chain traceability manually; now, TrusTrace will automate the process, changing how data is collected, digitized and shared.
In addition to supporting regulatory compliance, TrusTrace supports PIP Global Safety's long-standing sustainability and social responsibility initiatives.

Alba Wheels Up and mesur.io Announce Partnership Bringing Forced Labor Compliance Solution to Middle-market Companies

Retrieved on:

Wednesday, October 25, 2023

UFLPA, Customs, EVP, Social media, Legislation, Artificial intelligence, Machine learning, PIERS: The Port Import/Export Reporting Service, United States Customs Service, Partnership, CBP, Language, Uyghur Forced Labor Prevention Act, Medical device, Growth

UFLPA was signed into law in December 2021, and CBP began enforcement in June 2022.

Key Points:

UFLPA was signed into law in December 2021, and CBP began enforcement in June 2022.
The legislation contains a rebuttal provision wherein any shipment containing something originating from the region is presumed violative.
"The scoring Alba and mesur.io are providing to importers is designed to work toward due diligence and be part of an overall compliance program.
"This is a powerful tool available today for importers wishing to support their compliance programs to minimize risks in the supply chain," adds Iacopella.