RobotPlusPlus to Showcase Pioneering Working-at-Height Robots at Sea Asia 2025
RobotPlusPlus
SINGAPORE, March 17, 2025 (GLOBE NEWSWIRE) -- RobotPlusPlus, an engineering-led company that develops working-at-height robots, will showcase a range of its innovations during Sea Asia 2025, held from March 25-27 at Singapore's Marina Bay Sands Convention Centre. Among the products on display, the company will highlight its HighMate C20 Cargo Hold Cleaning Robot and HighMate AP Series Multi-Function Robot, while also featuring other established solutions. Visitors can explore these advanced technologies at Booth B2-Q25.
A Leader in Cargo Hold Cleaning
RobotPlusPlus' HighMate C20 enhances cargo hold cleaning by covering up to 95% of the surface, reducing the risks of manual cleaning at heights. This versatile robot features an advanced driving control with a flexible design that allows it to navigate confined spaces with precision, efficiently removing debris and contaminants while minimizing downtime and labor costs. The HighMate C20's performance allows it to be used even when the cargo-hold hatch is closed, eliminating the need for cherry pickers.
Its user-friendly design allows most seafarers to learn its basic functions in under 10 minutes. With the HighMate C20, it's 1 cargo hold, 1 robot, 1 man, 1 day.
Compact, Powerful, and Safe
In the HighMate AP Series Multi-Function Robot, RobotPlusPlus will showcase a compact, multi-functional swing arm robot designed for abrasive blasting, coating, and hydroblasting on steel surfaces. The robot boasts meticulous international ATEX and IECEx certification standards for safe use in explosive atmospheres.
Also showcased will be the HighMate S10R Coating Robot, featuring dual roughening and coating functions designed for steel surfaces. Its efficient and cost-effective design offers a lightweight double spray gun engineered to ensure accurate spraying.
'We're extremely proud to showcase our industry-leading products at Sea Asia 2025 to maritime leaders from across the globe,' said Hua-yang Xu, Founder and CEO at RobotPlusPlus. 'We look forward to the opportunity at this prestigious convention to connect with new professionals from across the world. At RobotPlusPlus, we take pride in being innovators and we're always seeking opportunities to grow with like-minded partners in this space.'
RobotPlusPlus will showcase its products and live updates from Sea Asia 2025 on its website. Visitors can also learn more about the brand and follow event highlights on RobotPlusPlus' LinkedIn, YouTube and TikTok pages.
Global distributors interested in partnering with RobotPlusPlus can email sales@robotplusplus.com for more information.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0b7e998a-6711-4973-a178-dcc25aceb6cd.
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About Oxford Oxford Industries, Inc., a leader in the apparel industry, owns and markets the distinctive Tommy Bahama®, Lilly Pulitzer®, Johnny Was®, Southern Tide®, The Beaufort Bonnet Company®, Duck Head® and Jack Rogers® lifestyle brands. Oxford's stock has traded on the New York Stock Exchange since 1964 under the symbol OXM. For more information, please visit Oxford's website at Basis of Presentation All per share information is presented on a diluted basis. Non-GAAP Financial Information The Company reports its consolidated financial statements in accordance with generally accepted accounting principles (GAAP). To supplement these consolidated financial results, management believes that a presentation and discussion of certain financial measures on an adjusted basis, which exclude certain non-operating or discrete gains, charges or other items, may provide a more meaningful basis on which investors may compare the Company's ongoing results of operations between periods. These measures include net adjusted earnings, adjusted net earnings per share, adjusted gross profit, adjusted gross margin, adjusted SG&A, and adjusted operating income, among others. Management uses these non-GAAP financial measures in making financial, operational, and planning decisions to evaluate the Company's ongoing performance. Management also uses these adjusted financial measures to discuss its business with investment and other financial institutions, its board of directors and others. Reconciliations of these adjusted measures to the most directly comparable financial measures calculated in accordance with GAAP are presented in tables included at the end of this release. Safe Harbor This press release includes statements that constitute forward-looking statements within the meaning of the federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. We intend for all forward-looking statements contained herein, in our press releases or on our website, and all subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf, to be covered by the safe harbor provisions for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). 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Forward-looking statements reflect our expectations at the time such forward-looking statements are made, based on information available at such time, and are not guarantees of performance. Although we believe that the expectations reflected in such forward-looking statements are reasonable, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond our ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to us or that we currently deem to be immaterial, materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Important factors relating to these risks and uncertainties include, but are not limited to, those described in Part I. Item 1A. 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Consolidated Balance Sheets (in thousands, except par amounts) (unaudited) May 3, May 4, 2025 2024 ASSETS Current Assets Cash and cash equivalents $ 8,175 $ 7,657 Receivables, net 105,501 87,918 Inventories, net 162,334 144,373 Income tax receivable 271 19,437 Prepaid expenses and other current assets 41,253 38,978 Total Current Assets $ 317,534 $ 298,363 Property and equipment, net 281,504 193,702 Intangible assets, net 255,768 259,147 Goodwill 27,403 27,185 Operating lease assets 372,452 319,308 Other assets, net 63,195 41,183 Deferred income taxes 21,850 18,088 Total Assets $ 1,339,706 $ 1,156,976 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable $ 86,212 $ 73,755 Accrued compensation 21,417 19,340 Current portion of operating lease liabilities 64,119 65,366 Accrued expenses and other liabilities 69,007 67,124 Total Current Liabilities $ 240,755 $ 225,585 Long-term debt 117,714 18,630 Non-current portion of operating lease liabilities 360,935 296,080 Other non-current liabilities 27,879 23,806 Shareholders' Equity Common stock, $1.00 par value per share 14,875 15,634 Additional paid-in capital 194,893 183,126 Retained earnings 385,761 396,933 Accumulated other comprehensive loss (3,106 ) (2,818 ) Total Shareholders' Equity $ 592,423 $ 592,875 Total Liabilities and Shareholders' Equity $ 1,339,706 $ 1,156,976Oxford Industries, Inc. Consolidated Statements of Operations (in thousands, except per share amounts) (unaudited) First Quarter Fiscal 2025 Fiscal 2024 Net sales $ 392,861 $ 398,184 Cost of goods sold 140,575 139,823 Gross profit $ 252,286 $ 258,361 SG&A 222,708 213,103 Royalties and other operating income 6,628 7,193 Operating income $ 36,206 $ 52,451 Interest expense, net 1,726 874 Earnings before income taxes $ 34,480 $ 51,577 Income tax expense 8,299 13,204 Net earnings $ 26,181 $ 38,373 Net earnings per share: Basic $ 1.72 $ 2.46 Diluted $ 1.70 $ 2.42 Weighted average shares outstanding: Basic 15,222 15,597 Diluted 15,404 15,844 Dividends declared per share $ 0.69 $ 0.67Oxford Industries, Inc. Consolidated Statements of Cash Flows (in thousands) (unaudited) First Quarter Fiscal 2025 Fiscal 2024 Cash Flows From Operating Activities: Net earnings $ 26,181 $ 38,373 Adjustments to reconcile net earnings to cash flows from operating activities: Depreciation 14,529 13,586 Amortization of intangible assets 2,434 2,955 Equity compensation expense 3,605 4,051 Amortization and write-off of deferred financing costs 96 96 Deferred income taxes (1,440 ) 6,059 Changes in operating assets and liabilities, net of acquisitions and dispositions: Receivables, net (33,078 ) (24,571 ) Inventories, net 5,271 15,151 Income tax receivable 5,053 112 Prepaid expenses and other current assets (2,973 ) 4,051 Current liabilities (7,376 ) (15,365 ) Other balance sheet changes (16,244 ) (11,575 ) Cash (used in) provided by operating activities $ (3,942 ) $ 32,923 Cash Flows From Investing Activities: Acquisitions, net of cash acquired (28 ) (240 ) Purchases of property and equipment (23,427 ) (11,894 ) Cash used in investing activities $ (23,455 ) $ (12,134 ) Cash Flows From Financing Activities: Repayment of revolving credit arrangements (94,125 ) (136,216 ) Proceeds from revolving credit arrangements 180,733 125,542 Repurchase of common stock (50,526 ) — Proceeds from issuance of common stock 482 513 Cash dividends paid (10,381 ) (10,549 ) Other financing activities (224 ) — Cash provided by (used in) financing activities $ 25,959 $ (20,710 ) Net change in cash and cash equivalents (1,438 ) 79 Effect of foreign currency translation on cash and cash equivalents 143 (26 ) Cash and cash equivalents at the beginning of year 9,470 7,604 Cash and cash equivalents at the end of period $ 8,175 $ 7,657Oxford Industries, Inc. Reconciliations of Certain Non-GAAP Financial Information (in millions, except per share amounts) (unaudited) First Quarter AS REPORTED Fiscal 2025 Fiscal 2024 % Change Tommy Bahama Net sales $ 216.2 $ 225.6 (4.2 )% Gross profit $ 139.7 $ 148.3 (5.8 )% Gross margin 64.6 % 65.7 % Operating income $ 30.7 $ 42.6 (27.9 )% Operating margin 14.2 % 18.9 % Lilly Pulitzer Net sales $ 99.0 $ 88.4 12.0 % Gross profit $ 64.9 $ 59.3 9.5 % Gross margin 65.6 % 67.0 % Operating income $ 18.1 $ 15.5 16.7 % Operating margin 18.3 % 17.6 % Johnny Was Net sales $ 43.5 $ 51.2 (15.1 )% Gross profit $ 28.1 $ 33.2 (15.4 )% Gross margin 64.7 % 64.9 % Operating (loss) income $ (3.4 ) $ 0.3 (1124.0 )% Operating margin (7.8 )% 0.7 % Emerging Brands Net sales $ 34.2 $ 33.0 3.8 % Gross profit $ 20.3 $ 19.5 4.0 % Gross margin 59.3 % 59.2 % Operating income $ 1.9 $ 3.8 (49.8 )% Operating margin 5.6 % 11.5 % Corporate and Other Net sales $ (0.1 ) $ (0.1 ) NM Gross profit $ (0.8 ) $ (2.0 ) NM Operating loss $ (11.2 ) $ (9.9 ) NM Consolidated Net sales $ 392.9 $ 398.2 (1.3 )% Gross profit $ 252.3 $ 258.4 (2.4 )% Gross margin 64.2 % 64.9 % SG&A $ 222.7 $ 213.1 4.5 % SG&A as % of net sales 56.7 % 53.5 % Operating income $ 36.2 $ 52.5 (31.0 )% Operating margin 9.2 % 13.2 % Earnings before income taxes $ 34.5 $ 51.6 (33.1 )% Net earnings $ 26.2 $ 38.4 (31.8 )% Net earnings per diluted share $ 1.70 $ 2.42 (29.8 )% Weighted average shares outstanding - diluted 15.4 15.8 (2.8 )%First Quarter ADJUSTMENTS Fiscal 2025 Fiscal 2024 % Change LIFO adjustments(1) $ 0.5 $ 2.2 Amortization of Johnny Was intangible assets(2) $ 1.9 $ 2.7 Impact of income taxes(3) $ (0.6 ) $ (1.3 ) Adjustment to net earnings(4) $ 1.8 $ 3.7 AS ADJUSTED Tommy Bahama Net sales $ 216.2 $ 225.6 (4.2 )% Gross profit $ 139.7 $ 148.3 (5.8 )% Gross margin 64.6 % 65.7 % Operating income $ 30.7 $ 42.6 (27.9 )% Operating margin 14.2 % 18.9 % Lilly Pulitzer Net sales $ 99.0 $ 88.4 12.0 % Gross profit $ 64.9 $ 59.3 9.5 % Gross margin 65.6 % 67.0 % Operating income $ 18.1 $ 15.5 16.7 % Operating margin 18.3 % 17.6 % Johnny Was Net sales $ 43.5 $ 51.2 (15.1 )% Gross profit $ 28.1 $ 33.2 (15.4 )% Gross margin 64.7 % 64.9 % Operating (loss) income $ (1.5 ) $ 3.1 (148.4 )% Operating margin (3.4 )% 6.0 % Emerging Brands Net sales $ 34.2 $ 33.0 3.8 % Gross profit $ 20.3 $ 19.5 4.0 % Gross margin 59.3 % 59.2 % Operating income $ 1.9 $ 3.8 (49.8 )% Operating margin 5.6 % 11.5 % Corporate and Other Net sales $ (0.1 ) $ (0.1 ) NM Gross profit $ (0.3 ) $ 0.2 NM Operating loss $ (10.7 ) $ (7.6 ) NM Consolidated Net sales $ 392.9 $ 398.2 (1.3 )% Gross profit $ 252.8 $ 260.6 (3.0 )% Gross margin 64.3 % 65.4 % SG&A $ 220.8 $ 210.4 4.9 % SG&A as % of net sales 56.2 % 52.8 % Operating income $ 38.6 $ 57.4 (32.8 )% Operating margin 9.8 % 14.4 % Earnings before income taxes $ 36.9 $ 56.5 (34.8 )% Net earnings $ 28.0 $ 42.1 (33.5 )% Net earnings per diluted share $ 1.82 $ 2.66 (31.6 )%First Quarter First Quarter First Quarter Fiscal 2025 Fiscal 2025 Fiscal 2024 Actual Guidance(5) Actual Net earnings per diluted share: GAAP basis $ 1.70 $ 1.61 - 1.81 $ 2.42 LIFO adjustments(1)(6) 0.02 0.00 0.11 Amortization of Johnny Was intangible assets(2)(6) 0.09 0.09 0.13 As adjusted(4) $ 1.82 $ $1.70 - $1.90 $ 2.66 Second Quarter Second Quarter Fiscal 2025 Fiscal 2024 Guidance(7) Actual Net earnings per diluted share: GAAP basis $ 0.92 - 1.12 $ 2.57 LIFO adjustments(8) 0.00 0.03 Amortization of Johnny Was intangible assets(2)(6) 0.13 0.13 Johnny Was distribution center relocation costs(9)(6) 0.00 0.04 As adjusted(4) $ 1.05 - 1.25 $ 2.77 Fiscal 2025 Fiscal 2024 Guidance(7) Actual Net earnings per diluted share: GAAP basis $ 2.28 - 2.68 $ 5.87 LIFO adjustments(8) 0.02 0.16 Amortization of Johnny Was intangible assets(2)(6) 0.50 0.51 Johnny Was distribution center relocation costs(9)(6) 0.00 0.14 As adjusted(4) $ 2.80 - 3.20 $ 6.68 (1) LIFO adjustments represents the impact of LIFO accounting adjustments. These adjustments are included in cost of goods sold in Corporate and Other.(2) Amortization of Johnny Was intangible assets represents the amortization related to intangible assets acquired as part of the Johnny Was acquisition. These charges are included in SG&A in Johnny Was.(3) Impact of income taxes represents the estimated tax impact of the above adjustments based on the estimated applicable tax rate on current year earnings.(4) Amounts in columns may not add due to rounding.(5) Guidance as issued on March 27, 2025.(6) Adjustments shown net of income taxes.(7) Guidance as issued on June 11, 2025.(8) No estimate for LIFO accounting adjustments is reflected in the guidance for any future periods.(9) Johnny Was distribution center relocation costs relate to the transition of Johnny Was distribution center operations from Los Angeles, California to Lyons, Georgia including systems integrations, employee bonuses and severance agreements, moving costs and occupancy expenses related to the vacated distribution centers. These charges are included in SG&A in Johnny Was. Direct to Consumer Location Count End of Q1 End of Q2 End of Q3 End of Q4 Fiscal 2024 Tommy Bahama Full-price retail store 102 103 106 106 Retail-food & beverage 23 23 25 24 Outlet 35 36 37 36 Total Tommy Bahama 160 162 168 166 Lilly Pulitzer full-price retail store 60 60 61 64 Johnny Was Full-price retail store 75 76 77 77 Outlet 3 3 3 3 Total Johnny Was 78 79 80 80 Emerging Brands Southern Tide full-price retail store 20 24 28 30 TBBC full-price retail store 4 5 5 5 Total Oxford 322 330 342 345 Fiscal 2025 Tommy Bahama Full-price retail store 103 Retail-food & beverage 26 Outlet 36 Total Tommy Bahama 165 Lilly Pulitzer full-price retail store 65 Johnny Was Full-price retail store 77 Outlet 3 Total Johnny Was 80 Emerging Brands Southern Tide full-price retail store 35 TBBC full-price retail store 8 Total Oxford 353Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
