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NFI Announces Election of Directors

NFI Announces Election of Directors

Yahoo12-05-2025

WINNIPEG, Manitoba, May 12, 2025 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. (NFI) a leader in propulsion-agnostic bus and coach mobility solutions, is pleased to announce that the ten nominees listed in the management information circular dated March 21, 2025, were elected as directors of the Board at the Company's annual and special meeting of shareholders (the Shareholder Meeting) held on Friday May 9, 2025. The detailed results of the vote for the election of directors held at the Shareholder Meeting are set out below.
Name of Nominee
Votes For
% For
Votes Withheld
% Withheld
Aziz Aghili
87,281,414
99.07%
820,823
0.93%
Larry Edwards
86,510,766
98.19%
1,591,471
1.81%
Adam Gray
80,511,713
91.38%
7,590,524
8.62%
Paulo Cezar da Silva Nunes
87,196,294
98.97%
905,943
1.03%
Anne Marie O'Donovan
87,134,115
98.90%
968,122
1.10%
Colin Robertson
87,144,256
98.91%
957,981
1.09%
Maryse Saint-Laurent
87,247,607
99.03%
854,630
0.97%
Paul Soubry
87,158,525
98.93%
943,712
1.07%
Jannet Walker-Ford
87,320,307
99.11%
781,930
0.89%
Katherine Winter
87,332,026
99.13%
770,211
0.87%
Final voting results on all matters voted on at the Shareholder Meeting will be available at www.nfigroup.com and will be filed with the Canadian securities regulators and available on SEDAR at www.sedarplus.ca.
About NFI
Leveraging 450 years of combined experience, NFI offers a wide range of propulsion-agnostic bus and coach platforms, including market leading electric models. Through its low- and zero-emission buses and coaches, infrastructure, and technology, NFI meets today's urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation.
With nearly 9,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), Plaxton (motorcoaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 100,000 buses and coaches around the world. NFI's common shares trade on the Toronto Stock Exchange (TSX) under the symbol NFI and its convertible unsecured debentures trade on the TSX under the symbol NFI.DB. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, nfi.parts, www.alexander-dennis.com, arbocsv.com, and carfaircomposites.com.
For investor and media inquiries, please contact: Stephen King P: 204.792.1300 Stephen.King@nfigroup.com

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Sandstorm Gold Royalties Portfolio Drilling and Exploration Highlights
Sandstorm Gold Royalties Portfolio Drilling and Exploration Highlights

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Sandstorm Gold Royalties Portfolio Drilling and Exploration Highlights

VANCOUVER, BC, June 11, 2025 /CNW/ - Sandstorm Gold Ltd. ("Sandstorm Gold Royalties", "Sandstorm" or the "Company") (NYSE: SAND) (TSX: SSL) is pleased to provide various developments and exploration highlights within its diversified stream and royalty portfolio (dollar figures in USD unless otherwise indicated). First Majestic Confirms New Discovery at Santa Elena First Majestic Silver Corp. ("First Majestic") has identified a significant gold-silver discovery on its Santa Elena property in Sonora, Mexico. The newly identified Santo Niño vein, located approximately 900 metres south of the Santa Elena processing plant, represents a significant addition to the district. The low-sulphidation, epithermal quartz-adularia vein has been traced over one kilometre along strike and 400 metres down-dip, with drilling to date confirming a mineralized core of approximately 600 metres by 220 metres. The discovery underscores the growing scale and potential of the Santa Elena district, which now hosts four major deposits, including Santa Elena and Santo Niño, which are both located within Sandstorm's stream area of interest. Exploration results from 14 drill intercepts at Santo Niño have returned significant gold and silver grades. Notably, hole SE-25-15 intersected 1.91 metres grading 8.38 grams per tonne ("g/t") gold and 248 g/t silver, including 0.43 metres of 27.5 g/t gold and 641 g/t silver. The results highlight the high-grade nature of the mineralization and its continuity across the western portion of the vein system. The structure remains open in multiple directions, and follow-up drilling is planned throughout 2025 to further delineate its extent and potential. The Santo Niño discovery complements the ongoing success at the Navidad deposit (not covered by Sandstorm's area of interest) where recent step-out drilling has expanded the mineralized footprint and returned some of the highest-grade intercepts ever recorded on the property. Together, Santo Niño and Navidad reinforce Santa Elena's status as a prolific, district-scale system with substantial upside. With nine rigs currently active, First Majestic is executing an aggressive exploration program aimed at unlocking further value and extending the mine life of this cornerstone asset. For more information, refer to First Majestic's website at and refer to the press release dated May 28, 2025. Sandstorm holds a gold stream on the Santa Elena mine, which includes the Santo Niño discovery, whereby the Company has the right to purchase 20% of the gold produced at Santa Elena for ongoing cash payments of $487 per ounce of gold. Fruta del Norte Expands 2025 Drilling Program to 108,000 Metres Lundin Gold Ltd. ("Lundin Gold") has expanded its 2025 drilling program at the Fruta del Norte mine ("FDN") in Ecuador to at least 108,000 metres, following the program's success in the first quarter of 2025 and the growing pipeline of targets. The revised program represents the largest annual drill program ever completed on the land package that hosts the FDN deposit. Additional drill results have been released from Lundin Gold's ongoing conversion and near-mine exploration program. High-grade intercepts from the conversion program at FDN South ("FDNS") have confirmed the deposit's continuity and identified additional mineralized zones. Studies are underway to integrate FDNS into FDN's 2026 long-term mine plan. Further high-grade results from FDN East continue to highlight the target's growth potential. At the recently discovered Trancaloma target, results confirm a copper-gold porphyry system at surface and highlight the potential for other porphyries near Trancaloma. At Bonza Sur, drilling confirms the mineral envelope and indicated the potential for further extension. Highlighted drill results include (not true widths): FDNS FDN-C25-196: 72.80 g/t gold over 7.95 metres from 67.60 metres, including 1,320.0 g/t gold over 0.40 metres; FDN-C25-204: 40.60 g/t gold over 13.90 metres from 43.80 metres, including 272.57 g/t gold over 1.90 metres; and FDN-C25-198: 48.82 g/t gold over 6.45 metres from 145.85 metres, including 616.00 g/t gold over 0.45 metres. FDN East UGE-E-25-248: 7.12 g/t gold over 14.30 metres from 229.85 metres and 4.62 g/t gold over 23.15 metres from 321.30 metres. Trancaloma Target TRL-2024-220: 0.41% copper, 0.10 g/t gold over 858.10 metres from 0.0 metres, including 0.54% copper and 0.14 g/t gold over 447.95 metres. Bonza Sur BLP-2024-205: 1.10 g/t gold over 162.30 metres from 0.40 metres, including 3.19 g/t gold over 11.00 metres; and BLP-2025-267: 2.14 g/t gold over 58.40 metres from 75.40 metres, including 5.41 g/t gold over 19.20 metres. For more information and complete drill results, visit Lundin Gold's website at and refer to the press release dated May 7, 2025. Sandstorm holds a 0.9% net smelter returns ("NSR") royalty on the precious metals produced at FDN. All drill results reported by Lundin Gold at FDNS, FDN East, Trancaloma, and Bonza Sur are included within the area of interest of Sandstorm's precious metals royalty. 260 Metres Grading 3.29% Copper and 2.08 g/t Gold Intersected at Hugo North Extension Entrée Resources Ltd. ("Entrée") has released additional analytical results from drilling completed in 2022–2024 on the Hugo North Extension ("HNE") at the Oyu Tolgoi mine in Mongolia. The results are in addition to previously released assays in the latter half of 2024 and the first quarter of 2025, and Entrée will continue to release results as they become available from the company's joint venture partner Oyu Tolgoi LLC ("OTLLC"). Highlights from the drill results include: HNE Surface Hole UGD 189B: 552 metres grading 2.30% copper and 1.45 g/t gold from 1,226 metres, including 260 metres grading 3.29% copper and 2.08 g/t gold. HNE Underground Drill Holes UGD 871: 197 metres grading 1.07% copper and 0.38 g/t gold from 358 metres, including 89 metres grading 1.33% copper and 0.44 g/t gold; UGD 873A: 279 metres grading 1.12% copper and 0.16 g/t gold from 360 metres; and UGD 876: 169.3 metres grading 2.72% copper and 0.82 g/t gold from 224.7 metres, including 112 metres grading 3.33% copper and 0.81 g/t gold from 232 metres. The newly released results include one surface diamond drill hole and five underground diamond drill holes completed in 2024 on the Shivee Tolgoi mining license, along with one underground drill hole from the 2022 program. Each of the six diamond drill holes with newly reported assay results targeted mineralization within the potential Lift 2 block cave or area immediately to the east. Several drill holes reported in the May 14, 2025 release and previous news releases from Entrée have continued up to 200 metres vertically below the base of the potential Lift 2 block cave and remained in strong copper and gold mineralization. For more information and complete drill results, visit Entrée's website at and refer to the press release dated May 14, 2025. Sandstorm has a copper and precious metal stream with Entrée whereby the Company has the right to purchase 0.33% of the copper and 4.47% of the gold and silver produced at the HNE, and 0.33% of the copper and 3.39% of the gold and silver produced from the Heruga deposit. The Company will make ongoing cash payments of $0.50 per pound of copper, $220 per ounce of gold, and $5.00 per ounce of silver1. Drill Results Reinforce District-Scale Potential of Odienné Project Awalé Resources Ltd. ("Awalé") continues to report on its 2025 drilling campaign at the Odienné project in Côte d'Ivoire. Results from drilling across three key targets—BBM Zone, Charger, and Empire—have returned multiple high-grade gold and polymetallic intercepts, reinforcing the district-scale potential of the project. BBM Zone, Charger, and Empire are part of a broader pipeline of targets at Odienné, where Awalé is executing an 18,000-metre drill campaign. The project is being advanced as a potential mining camp with multiple feed sources for a central processing facility. BBM Zone Awalé has released the final results from a 22-hole, 6,380-metre drill program at the BBM Zone, confirming a broad gold-copper system extending over 1 kilometre of strike and to depths of 300 metres. Notably, hole OEDD-131 returned 45.0 metres of 1.4 g/t gold and 0.41% copper from 220 metres, including 4.0 metres of 2.6 g/t gold and 0.55% copper. The BBM Zone remains open down plunge, with a 300-metre-wide higher-grade core and multiple satellite targets identified within two to three kilometres, representing a key component of Awalé's broader exploration strategy at the Odienné project. Charger Target At the Charger target, Awalé reported high-grade gold and polymetallic intercepts from nine diamond drill holes, including: OEDD-120: 26.0 metres of 12.0 g/t gold from 146 metres; OEDD-118: 95.0 metres of 1.8 g/t gold from 170 metres; and OEDD-121: 4.0 metres of 18.5 g/t gold and 3.03% copper from 67 metres. Additionally, a new parallel mineralized breccia zone was discovered 50 metres west of the main corridor, with 26.0 metres of 2.0 g/t gold in hole OEDD-137. These results support the presence of multiple mineralized structures and highlight the scalability of the Charger system. Empire Target Awalé has resumed drilling at the Empire target, which is the company's first high-grade gold discovery at Odienné, discovered in 2019. Empire sits within a 20 kilometre west-northwest trending structure corridor, and 2.5 kilometres south of the Charger discovery. Six diamond drill holes at Empire were completed, totalling 1,168 metres, and intersected significant mineralization, including: OEDD-127: 15.0 metres of 5.2 g/t gold from 215 metres, including 10.0 metres of 7.5 g/t gold; OEDD-114: 16.0 metres of 3.0 g/t gold from 44 metres; and OEDD-124: 19.0 metres of 2.3 g/t gold from 76 metres. Exploration at Empire to date has covered only 5 kilometres of the Empire trend, with significant potential for further expansion. The results confirm the continuity of mineralization at depth and along strike, with Empire remaining open in multiple directions. For more information, including complete drill results, visit Awalé's website at and refer to the press releases dated April 8, 17, and May 12, 2025. Sandstorm holds a 2.0% NSR royalty on the Odienné project. Omai Gold Mines Drills 28.04 g/t Gold over 9.3 Metres at Wenot Omai Gold Mines Corp. ("Omai") has released assay results from the 2025 drill program at the Omai gold mine in Guyana ("OGM"). A total of 15,639 metres of drilling has been completed in 2025, surpassing the planned 15,000 metres program as results continue to extend the known limits of the gold mineralization at Wenot. Additionally, several holes have been drilled in West Wenot—an area which lies outside of any previous mining and includes a significant part of the Wenot Mineral Resource Estimate ("MRE"). Omai believes West Wenot could be suitable for a starter pit in a production scenario. Highlighted drill results include: Wenot Deposit 25ODD-103 & 103W: 3.56 g/t gold over 21.8 metres from 524.2 metres; 25ODD-103W: 3.93 g/t gold over 7.0 metres from 499.0 metres and 5.66 g/t gold over 4.3 metres from 560.0 metres; and 25ODD-102: 28.04 g/t gold over 9.3 metres from 361.2 metres, including 252.36 g/t gold over 1.0 metres. West Wenot 25ODD-116: 2.63 g/t gold over 27.5 metres from 471.5 metres; 25ODD-111: 4.87 g/t gold over 9.5 metres from 317.0 metres, including 10.92 g/t gold over 4.0 metres; and 25ODD-109: 2.37 g/t gold over 15.0 metres from 79.0 metres. Omai has also announced that drilling has begun on a deep hole that will initially drill across the Gilt Creek deposit, then continue a further 600–800 metres to explore the extension of the Wenot gold zones. The hole is expected to drill roughly 600 metres below the known Wenot deposit. Once South America's largest producing gold mine, the OGM produced over 3.7 million ounces ("Moz") of gold between 1993 and 2005. A Preliminary Economic Assessment ("PEA") released on the Wenot deposit in April 2024 envisioned an open pit operation producing 1.84 Moz of gold over a 13-year period. The 2024 PEA only incorporates 45% of the property's current MRE of 2.0 Moz of Indicated Mineral Resources and 2.3 Moz of Inferred Mineral Resources. For more information and complete drill results, visit Omai's website at and refer to the press releases dated May 12, 23, and 29, 2025. Sandstorm holds a 1.0% NSR royalty on the OGM. Troilus 2025 Drill Campaign Focuses on Identifying Higher-Grade Mineralization Troilus Gold Corp. ("Troilus") released results from its 2025 drill campaign on the Troilus project located in Quebec, Canada. The drill campaign is focused on identifying and delineating higher-grade mineralization and enhancing confidence in the current block model. The highlighted drill results below are from the Southwest Zone and confirm the higher-grade material within the reserve pit, expected to be mined in the first five years of the mine plan. SW-25-688: 56 metres grading 2.03 g/t gold, 2.55 g/t silver and 0.23% copper from 174 metres, including 34 metres grading 2.74 g/t gold, 3.38 g/t silver, and 0.29% copper; SW-25-679: 51 metres grading 1.13 g/t gold and 0.81 g/t silver from 9 metres; SW-25-712: 73 metres grading 0.68 g/t gold, 0.80 g/t silver and 0.14% copper from 189 metres, including 19 metres grading 1.34 g/t gold, 0.76 g/t silver, and 0.29% copper; and SW-25-681: 36 metres grading 1.40 g/t gold, 1.58 g/t silver, and 0.22% copper, including 23 metres grading 1.93 g/t gold, 1.85 g/t silver, and 0.29% copper. For more information and complete drill results, visit Troilus's website at and refer to the press releases dated April 29 and May 22, 2025. Sandstorm holds a 1.0% NSR royalty on the Troilus project. Note 1. Stream terms reflect bought down rates applicable to HNE and Heruga deposits, assuming the Mongolian Government acquires a 34% interest in Entrée's share of the joint venture, at which time Sandstorm will receive up to $6.8 million in total consideration. Qualified Person Imola Götz ( F.E.C.), Sandstorm's Vice President, Mining & Engineering is a Qualified Person as defined by Canadian National Instrument 43-101. Ms. Götz has reviewed and approved the scientific and technical information in this news release. Contact Information For more information about Sandstorm Gold Royalties, please visit our website at or email us at info@ ABOUT SANDSTORM GOLD ROYALTIES Sandstorm is a precious metals-focused royalty company that provides upfront financing to mining companies and receives the right to a percentage of production from a mine, for the life of the mine. Sandstorm holds a portfolio of approximately 230 royalties, of which 40 of the underlying mines are producing. Sandstorm plans to grow and diversify its low-cost production profile through the acquisition of additional gold royalties. For more information visit: CAUTIONARY STATEMENTS TO U.S. SECURITYHOLDERS The financial information included or incorporated by reference in this press release or the documents referenced herein has been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, which differs from US generally accepted accounting principles ("US GAAP") in certain material respects, and thus are not directly comparable to financial statements prepared in accordance with US GAAP. This press release and the documents incorporated by reference herein, as applicable, have been prepared in accordance with Canadian standards for the reporting of mineral resource and mineral reserve estimates, which differ from the previous and current standards of the United States securities laws. In particular, and without limiting the generality of the foregoing, the terms "mineral reserve", "proven mineral reserve", "probable mineral reserve", "inferred mineral resources,", "indicated mineral resources," "measured mineral resources" and "mineral resources" used or referenced herein and the documents incorporated by reference herein, as applicable, are Canadian mineral disclosure terms as defined in accordance with Canadian National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") — CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the "CIM Definition Standards"). For United States reporting purposes, the United States Securities and Exchange Commission (the "SEC") has adopted amendments to its disclosure rules (the "SEC Modernization Rules") to modernize the mining property disclosure requirements for issuers whose securities are registered with the SEC under the Exchange Act, which became effective February 25, 2019. The SEC Modernization Rules more closely align the SEC's disclosure requirements and policies for mining properties with current industry and global regulatory practices and standards, including NI 43-101, and replace the historical property disclosure requirements for mining registrants that were included in SEC Industry Guide 7. Issuers were required to comply with the SEC Modernization Rules in their first fiscal year beginning on or after January 1, 2021. As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multi-jurisdictional disclosure system, the Corporation is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards. Accordingly, mineral reserve and mineral resource information contained or incorporated by reference herein may not be comparable to similar information disclosed by United States companies subject to the United States federal securities laws and the rules and regulations thereunder. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources." In addition, the SEC has amended its definitions of "proven mineral reserves" and "probable mineral reserves" to be "substantially similar" to the corresponding CIM Definition Standards that are required under NI 43-101. While the SEC will now recognize "measured mineral resources", "indicated mineral resources" and "inferred mineral resources", U.S. investors should not assume that all or any part of the mineralization in these categories will be converted into a higher category of mineral resources or into mineral reserves without further work and analysis. Mineralization described using these terms has a greater amount of uncertainty as to its existence and feasibility than mineralization that has been characterized as reserves. Accordingly, U.S. investors are cautioned not to assume that all or any measured mineral resources, indicated mineral resources, or inferred mineral resources that the Company reports are or will be economically or legally mineable without further work and analysis. Further, "inferred mineral resources" have a greater amount of uncertainty and as to whether they can be mined legally or economically. Therefore, U.S. investors are also cautioned not to assume that all or any part of inferred mineral resources will be upgraded to a higher category without further work and analysis. Under Canadian securities laws, estimates of "inferred mineral resources" may not form the basis of feasibility or pre-feasibility studies, except in rare cases. While the above terms are "substantially similar" to CIM Definitions, there are differences in the definitions under the SEC Modernization Rules and the CIM Definition Standards. Accordingly, there is no assurance any mineral reserves or mineral resources that the Company may report as "proven mineral reserves", "probable mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the reserve or resource estimates under the standards adopted under the SEC Modernization Rules or under the prior standards of SEC Industry Guide 7. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION This press release contains "forward-looking statements", within the meaning of the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of Sandstorm Gold Royalties. Forward-looking statements include the future price of gold, silver, copper, iron ore and other metals, the estimation of mineral reserves and resources, realization of mineral reserve estimates, and the timing and amount of estimated future production. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", or similar terminology. Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of Sandstorm Gold Royalties to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which Sandstorm Gold Royalties will operate in the future, including the receipt of all required approvals, the price of gold and copper and anticipated costs. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, failure to receive necessary approvals, changes in business plans and strategies, market conditions, share price, best use of available cash, gold and other commodity price volatility, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries, mining operational and development risks relating to the parties which produce the gold or other commodity the Company will purchase, regulatory restrictions, activities by governmental authorities (including changes in taxation), currency fluctuations, the global economic climate, dilution, share price volatility and competition. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: the impact of general business and economic conditions, the absence of control over mining operations from which the Company will purchase gold, other commodities or receive royalties from, and risks related to those mining operations, including risks related to international operations, government and environmental regulation, actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined, risks in the marketability of minerals, fluctuations in the price of gold and other commodities, fluctuation in foreign exchange rates and interest rates, stock market volatility, as well as those factors discussed in the section entitled "Risks to Sandstorm" in the Company's annual report for the financial year ended December 31, 2024 and the section entitled "Risk Factors" contained in the Company's annual information form dated March 31, 2025 available at Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are contained or incorporated by reference, except in accordance with applicable securities laws. View original content to download multimedia: SOURCE Sandstorm Gold Ltd. View original content to download multimedia: Error 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

Oxford: Owner of Tommy Bahama, Lilly Pulitzer and Johnny Was Reports First Quarter Results
Oxford: Owner of Tommy Bahama, Lilly Pulitzer and Johnny Was Reports First Quarter Results

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Oxford: Owner of Tommy Bahama, Lilly Pulitzer and Johnny Was Reports First Quarter Results

ATLANTA, June 11, 2025 (GLOBE NEWSWIRE) -- Oxford Industries, Inc. (NYSE:OXM) today announced financial results for its first quarter of fiscal 2025 ended May 3, 2025. Consolidated net sales in the first quarter of fiscal 2025 were $393 million compared to $398 million in the first quarter of fiscal 2024. EPS on a GAAP basis was $1.70 compared to $2.42 in the first quarter of fiscal 2024. On an adjusted basis, EPS was $1.82 compared to $2.66 in the first quarter of fiscal 2024. Tom Chubb, Chairman and CEO, commented, 'We were able to deliver sales and adjusted EPS within our guidance ranges for the first quarter despite uncertain tariff and trade dynamics that are significantly impacting our industry and operating landscape. Despite the increasing headwinds, we were led by a low double digit increase at Lilly Pulitzer as the brand's current assortment is resonating strongly with its core consumer, and overall sales were only modestly lower than last year. At the same time, we were able to maintain strong gross margins above 64%." Mr. Chubb concluded, 'I am proud of the way the teams across our Company have responded swiftly to rapidly changing trade and tariff developments. Our teams have made meaningful progress in diversifying and shifting our supply chain to reduce our exposure to future tariff developments. We believe that our portfolio of differentiated lifestyle brands and strong balance sheet will enable us to navigate this uncertain period, manage the business to drive long-term shareholder value and provide an opportunity to gain market share in the current environment. We will continue to focus on what we can control, including executing our strategy and servicing our customers.' First Quarter of Fiscal 2025 versus Fiscal 2024 Net Sales by Operating Group First Quarter ($ in millions) 2025 2024 % Change Tommy Bahama $ 216.2 $ 225.6 (4.2 %) Lilly Pulitzer 99.0 88.4 12.0 % Johnny Was 43.5 51.2 (15.1 %) Emerging Brands 34.2 33.0 3.8 % Other (0.1 ) (0.1 ) NM Total Company $ 392.9 $ 398.2 (1.3 %) Consolidated net sales of $393 million decreased compared to sales of $398 million in the first quarter of fiscal 2024. Full-price direct-to-consumer (DTC) sales decreased 3% to $249 million versus the first quarter of fiscal 2024. Full-price retail sales of $135 million were 1% lower than the prior-year period. E-commerce sales of $114 million were 5% lower than the prior-year period. Outlet sales of $18 million were comparable to the prior period. Food and beverage sales were $34 million, a 3% decrease versus the prior-year period. Wholesale sales increased 4% to $92 million versus the first quarter of fiscal 2024. Gross margin was 64.2% on a GAAP basis, compared to 64.9% in the first quarter of fiscal 2024. On an adjusted basis, gross margin was 64.3% compared to 65.4% in the first quarter of fiscal 2024. The decreased gross margin on a GAAP basis was primarily due to (1) increased freight expenses to e-commerce customers at Tommy Bahama, (2) increased markdowns during clearance events at Lilly Pulitzer and Johnny Was and (3) a change in sales mix with wholesale sales, including off-priced wholesale sales, representing a higher proportion of net sales. We also incurred $1 million of additional charges in cost of goods sold in the first quarter of fiscal 2025 resulting from the U.S. tariffs on imported goods implemented in the first quarter of fiscal 2025. These decreases were partially offset by a $2 million lower LIFO accounting charge in the first quarter of fiscal 2025 compared to the first quarter of fiscal 2024. SG&A was $223 million compared to $213 million last year with approximately $6 million, or 59%, of the increase is related to increases in employment costs, occupancy costs and depreciation expense due to the opening of 31 new brick and mortar retail locations since the first quarter of fiscal 2024. This includes the 8 net new stores including 2 Tommy Bahama Marlin Bars opened in the first quarter of fiscal 2025. We also incurred pre-opening expenses related to some of the approximately 7 additional stores planned to open during the remainder of fiscal 2025, including an additional Tommy Bahama Marlin Bar. On an adjusted basis, SG&A was $221 million compared to $210 million in the prior-year period. Royalties and other operating income decreased $1 million to $7 million in the first quarter of fiscal 2025 primarily due to decreased royalty income in Tommy Bahama reflecting the lower sales of our licensing partners. Operating income was $36 million, or 9.2% of net sales, compared to $52 million, or 13.2% of net sales, in the first quarter of fiscal 2024. On an adjusted basis, operating income decreased to $39 million, or 9.8% of net sales, compared to $57 million, or 14.4% of net sales, in the first quarter of fiscal 2024. Interest expense increased to $2 million from $1 million in the prior year period. The increased interest expense was primarily due to a higher average outstanding debt balance during the first quarter of fiscal 2025 than the first quarter of fiscal 2024. The effective income tax rate in the first quarter of fiscal 2025 was 24.1% which primarily reflects the benefit derived from a reduction in income tax expense as a result of the receipt of interest from a U.S. federal income tax receivable and the remeasurement of deferred tax balances due to changes in state tax rates partially offset by a net increase to uncertain tax positions during the quarter. The effective tax rate in the first quarter of fiscal 2024 was 25.6% which primarily reflects the unfavorable remeasurement of deferred tax assets and an increase to uncertain tax positions partially offset by a favorable return-to-provision adjustment for a foreign subsidiary. Balance Sheet and Liquidity Inventory increased $18 million, or 12%, on a LIFO basis and $20 million, or 9%, on a FIFO basis compared to the end of the first quarter of fiscal 2024. Inventories increased in all operating segments with the exception of Johnny Was due primarily to impacts associated with the U.S. tariffs that were implemented in first quarter of fiscal 2025 including (1) accelerated purchases of inventory before the anticipated implementation of increased tariffs and (2) increased costs capitalized into inventory after the implementation of the tariffs. At the end of the first quarter of fiscal 2025, our inventory balances included an additional $3 million of costs associated with the increased tariffs implemented in the first quarter of fiscal 2025. During the first quarter of fiscal 2025, cash used in operations was $4 million compared to cash provided by operations of $33 million in the first quarter of fiscal 2024. The cash used in operations reflects the result of lower net earnings, working capital needs, including accelerating inventory purchases, and $12 million of capitalizable implementation costs associated with cloud computing arrangements. Borrowings outstanding increased to $118 million at the end of the first quarter of fiscal 2025 compared to $19 million and $31 million of borrowings outstanding at the end of the first quarter of fiscal 2024 and the fourth quarter of fiscal 2024, respectively. During the first quarter of fiscal 2025, share repurchases of $51 million, capital expenditures of $23 million primarily associated with the project to build a new distribution center in Lyons, Georgia, and the opening of eight new stores, including two Tommy Bahama Marlin Bars, $12 million of capitalizable implementation costs associated with cloud computing arrangements, dividend payments of $10 million, and working capital requirements exceeded cash flow from operations. The Company had $8 million of cash and cash equivalents at the end of both the first quarter of fiscal 2025 and the first quarter of fiscal 2024. Dividend The Board of Directors declared a quarterly cash dividend of $0.69 per share. The dividend is payable on August 1, 2025 to shareholders of record as of the close of business on July 18, 2025. The Company has paid dividends every quarter since it became publicly owned in 1960. Outlook For fiscal 2025 ending on January 31, 2026, the Company revised its sales and EPS guidance. The Company now expects net sales in a range of $1.475 billion to $1.515 billion as compared to net sales of $1.52 billion in fiscal 2024. In fiscal 2025, GAAP EPS is expected to be between $2.28 and $2.68 compared to fiscal 2024 GAAP EPS of $5.87. Adjusted EPS is expected to be between $2.80 and $3.20, compared to fiscal 2024 adjusted EPS of $6.68. The revised fiscal 2025 EPS and adjusted EPS guidance includes $40 million in additional tariff costs, or $2.00 per share on an after-tax basis. For the second quarter of fiscal 2025, the Company expects net sales to be between $395 million and $415 million compared to net sales of $420 million in the second quarter of fiscal 2024. GAAP EPS is expected to be between $0.92 and $1.12 in the second quarter of fiscal 2025 compared to a GAAP EPS of $2.57 in the second quarter of fiscal 2024. Adjusted EPS is expected to be between $1.05 and $1.25 compared to adjusted EPS of $2.77 in the second quarter of fiscal 2024. The revised second quarter of fiscal 2025 EPS guidance includes $15 million in additional tariff costs, or $0.75 per share on an after-tax basis. The Company anticipates interest expense of $8 million in fiscal 2025, with interest expense expected to be between $1 million and $2 million per quarter for the remainder of fiscal 2025. The Company's effective tax rate is expected to be approximately 26% for the full year of fiscal 2025. Capital expenditures in fiscal 2025, including the $23 million in the first quarter of fiscal 2025, are expected to be approximately $120 million compared to $134 million in fiscal 2024. The planned year-over-year decrease relates primarily to lower anticipated new store openings in fiscal 2025. The Company expects a year-over-year net increase of approximately 15 full price stores by the end of fiscal 2025, including three new Marlin Bars. The $120 million in expected capital expenditures in fiscal 2025 includes capital expenditures of approximately $70 million related to the completion of the project to build a new distribution center in Lyons, Georgia, including $10 million in the first quarter of fiscal 2025, and capital expenditures related to new stores and Tommy Bahama Marlin Bars. Conference Call The Company will hold a conference call with senior management to discuss its financial results at 4:30 p.m. ET today. A live web cast of the conference call will be available on the Company's website at A replay of the call will be available through June 25, 2025 by dialing (412) 317-6671 access code 13753975. 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). Such statements are subject to a number of risks, uncertainties and assumptions including, without limitation: changes in the trade policies of the United States and those of other nations, including risks of potential future changes or worsening trade tensions between the United States and other countries and the impact of uncertainties surrounding U.S. trade policy on consumer sentiment; demand for our products, which may be impacted by macroeconomic factors that may impact consumer discretionary spending and pricing levels for apparel and related products, many of which may be impacted by inflationary pressures, tariffs, volatile and/or elevated interest rates, concerns about a potential global recession, the stability of the banking industry or general economic uncertainty, and the effectiveness of measures to mitigate the impact of these factors; risks relating to our product sourcing decentralization efforts, including our ability to identify alternative countries to source and produce our products and to successfully implement changes in our supply chain; possible changes in governmental monetary and fiscal policies, including, but not limited to, Federal Reserve policies in connection with continued inflationary pressures; competitive conditions and/or evolving consumer shopping patterns, particularly in a highly promotional retail environment; acquisition activities (such as the acquisition of Johnny Was); global supply chain constraints that have, and could continue, to affect freight, transit, and other costs; costs and availability of labor and freight deliveries, including our ability to appropriately staff our retail stores and food & beverage locations; costs of products as well as the raw materials used in those products, as well as our ability to pass along price increases to consumers; energy costs; our ability to respond to rapidly changing consumer expectations; unseasonal or extreme weather conditions or natural disasters, such as the 2024 hurricanes impacting the Southeastern United States; lack of or insufficient insurance coverage; the ability of business partners, including suppliers, vendors, wholesale customers, licensees, logistics providers and landlords, to meet their obligations to us and/or continue our business relationship to the same degree as they have historically; hiring of, retention of and disciplined execution by key management and other critical personnel; cybersecurity breaches and ransomware attacks, as well as our and our third party vendors' ability to properly collect, use, manage and secure business, consumer and employee data and maintain continuity of our information technology systems; the effectiveness of our advertising initiatives in defining, launching and communicating brand-relevant customer experiences; the level of our indebtedness, including the risks associated with heightened interest rates on the debt and the potential impact on our ability to operate and expand our business; the timing of shipments requested by our wholesale customers; fluctuations and volatility in global financial and/or real estate markets; our ability to identify and secure suitable locations for new retail store and food & beverage openings; the timing and cost of retail store and food & beverage location openings and remodels, technology implementations and other capital expenditures; the timing, cost and successful implementation of changes to our distribution network; the effectiveness of recent, focused efforts to reassess and realign our operating costs in light of revenue trends, including potential disruptions to our operations as a result of these efforts; pandemics or other public health crises; expected outcomes of pending or potential litigation and regulatory actions; consumer, employee and regulatory focus on sustainability issues and practices, including failures by our suppliers to adhere to our vendor code of conduct; the regulation or prohibition of goods sourced, or containing raw materials or components, from certain regions and our ability to evidence compliance; access to capital and/or credit markets; factors that could affect our consolidated effective tax rate, including the impact of potential changes in U.S. tax laws and regulations; the risk of impairment to goodwill and other intangible assets such as the recent impairment charges incurred in our Johnny Was segment; and geopolitical risks, including ongoing challenges between the United States and China and those related to the ongoing war in Ukraine, the Israel-Hamas war and the conflict in the Red Sea region. 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. Risk Factors contained in our Fiscal 2024 Form 10-K, and those described from time to time in our future reports filed with the SEC. We caution that one should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. We disclaim any intention, obligation or duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Contact:E-mail: Brian SmithInvestorRelations@ Industries, Inc. 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

Applied Optoelectronics Announces First Volume Shipment of Data Center Transceivers to Recently Engaged Major Hyperscale Customer
Applied Optoelectronics Announces First Volume Shipment of Data Center Transceivers to Recently Engaged Major Hyperscale Customer

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Applied Optoelectronics Announces First Volume Shipment of Data Center Transceivers to Recently Engaged Major Hyperscale Customer

SUGAR LAND, Texas, June 11, 2025 (GLOBE NEWSWIRE) -- Applied Optoelectronics, Inc. ('AOI') (Nasdaq: AAOI), a leading provider of fiber-optic access network products for the internet datacenter, cable broadband, telecom and fiber-to-the-home (FTTH) markets, today announced the first volume shipment of high-speed data center transceivers to a recently re-engaged major hyperscale data center customer. This milestone is the first volume shipment of these advanced high-speed data center transceivers to this customer, and the first shipment of significant quantity to this customer in several years. 'Throughout the year, we have been expecting growth in data center transceiver sales, particularly in the second half of the year,' commented Dr. Thompson Lin, AOI's Founder, Chairman, and CEO. 'This first volume shipment to this customer represents a significant milestone on a journey to what we continue to expect to be significant business opportunities with this newly re-engaged customer. As we execute on our previously-announced US-based capacity expansion plan, we continue to expect shipments to this customer and other customers to increase in line with our previous commentary of a second-half ramp.' For more information about AOI's industry-leading line of advanced optical transceivers for AI-focused data centers, please refer to the information on AOI's website at About Applied Optoelectronics, Inc. Applied Optoelectronics, Inc. (AOI) is a leading developer and manufacturer of advanced optical products, including components, modules and equipment. AOI's products are the building blocks for broadband fiber access networks around the world, where they are used in the internet datacenter, CATV broadband, telecom and FTTH markets. AOI supplies optical networking lasers, components and equipment to tier-1 customers in all four of these markets. In addition to its corporate headquarters, wafer fab and advanced engineering and production facilities in Sugar Land, TX, AOI has engineering and manufacturing facilities in Taipei, Taiwan and Ningbo, China. For additional information, visit Forward-Looking InformationThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "could," "would," "target," "seek," "aim," "predicts," "think," "objectives," "optimistic," "new," "goal," "strategy," "potential," "is likely," "will," "expect," "plan," "project," "permit" or by other similar expressions that convey uncertainty of future events or outcomes. These statements include management's beliefs and expectations related to our outlook for the second quarter of 2025 and the remainder of 2025. Such forward-looking statements reflect the views of management at the time such statements are made. These forward-looking statements involve risks and uncertainties, as well as assumptions and current expectations, which could cause the company's actual results to differ materially from those anticipated in such forward-looking statements. These risks and uncertainties include but are not limited to: reduction in the size or quantity of customer orders; change in demand for the company's products due to industry conditions; changes in manufacturing operations; volatility in manufacturing costs; delays in shipments of products; disruptions in the supply chain; change in the rate of design wins or the rate of customer acceptance of new products; the company's reliance on a small number of customers for a substantial portion of its revenues; potential pricing pressure; a decline in demand for our customers' products or their rate of deployment of their products; general conditions in the internet datacenter, cable television (CATV) broadband, telecom, or fiber-to-the-home (FTTH) markets; changes in the world economy (particularly in the United States and China); changes in the regulation and taxation of international trade, including the imposition of tariffs; changes in currency exchange rates; the negative effects of seasonality; and other risks and uncertainties described more fully in the company's documents filed with or furnished to the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. More information about these and other risks that may impact the company's business are set forth in the "Risk Factors" section of the company's quarterly and annual reports on file with the Securities and Exchange Commission. You should not rely on forward-looking statements as predictions of future events. All forward-looking statements in this press release are based upon information available to us as of the date hereof, and qualified in their entirety by this cautionary statement. Except as required by law, we assume no obligation to update forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in the company's expectations. Investor Relations Contact: The Blueshirt Group, Investor Relations Lindsay Savarese +1-212-331-8417ir@ in to access your portfolio

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