Expro Unveils Its Most Advanced Brute ® Packer System for Deepwater Wells
The introduction of the BRUTE ® Armor Packer marks a major milestone in the continued evolution of Expro's BRUTE ® product line. With unmatched versatility, this innovation positions Expro as the only provider capable of supporting 20k deepwater projects at this level. When deployed with the BRUTE ® 2 Storm Valve, it forms the industry's highest-rated Storm/Service Packer and Valve combination currently available.
As a recognized leader in deepwater downhole solutions, Expro was commissioned by a super-major energy company for a high-spec 20k development in the Gulf of America. The inaugural use of the technology confirmed its pressure integrity and performance under extreme downhole conditions resulting in the release and first successful deployment of the 12,850 psid-rated 12.25' BRUTE ® Armor Packer System in April 2025.
Building on the successful deployment of the 12.25' Packer System, Expro has also introduced a new 20'/22' Packer System addressing historical challenges of 20' and 22' retrievable mechanical packer systems, often constrained by internal diameter (ID) limitations, such as subsea high-pressure wellhead housings and supplemental casing adapters. Featuring twice the element expansion capability of traditional mechanical packers, the new system delivers efficient, reliable performance for casing testing, suspension, and squeeze applications, all without compromising operational effectiveness.
The first deployment of the 20'/22' Packer System recently took place in June 2025, during a high-profile offshore campaign for a super-major operator in the Gulf of America. The packer passed through restrictions in the high-pressure wellhead housing and supplemental casing adapter before being installed in a larger ID below both components. It achieved full element expansion and pressure integrity on the first attempt validating the tool's enhanced expansion capability, enabling efficient casing isolation while reducing rig time and operational risk.
Jeremy Angelle, Vice President of Well Construction commented: 'This launch firmly establishes Expro's BRUTE ® Packers as the industry benchmark for deepwater storm and test packers in terms of pressure and tensile strength. The modular toolset provides unparalleled flexibility, making it the most adaptable solution on the market and positions Expro as the partner of choice for next-generation 20k deepwater developments.
'We're not just meeting the industry's toughest standards - we're defining them.'
Notes to Editors
Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers to be best-in-class safety and service quality. The Company's extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.
With roots dating to 1938, Expro has approximately 8,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in more than 50 countries.
For more information, please visit and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.
This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the success, safety, efficiency and sustainability of the Company's well construction technologies, the Company's environmental, social and governance goals, targets and initiatives, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company's Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
4 minutes ago
- Business Wire
Inovalis Real Estate Investment Trust Announces the Financial Results for Q2 2025
TORONTO--(BUSINESS WIRE)--Inovalis Real Estate Investment Trust (the 'REIT') (TSX: today reported financial results for the quarter ended June 30, 2025. The unaudited Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A") for Q2 2025 are available on the REIT's website at and at All amounts except rental rates, square footage and per unit amounts are presented in thousands of Canadian dollars or Euros, or as otherwise stated. Stephane Amine, CEO and President of the REIT, commented ' We are focused on preserving and generating liquidity by managing capital expenditures, selling non-core assets, and staying closely engaged with our lenders, ensuring the REIT remains stable and adaptable in the current environment to protect Unitholder value.' Net Rental Income For the portfolio that includes assets owned entirely by the REIT ("IP Portfolio"), Net Rental Income ('NRI') for Q2 2025 decreased to $3,280 (€2,130), compared to the $4,616 (€3,144) NRI for Q2 2024, notably caused by the vacancies at the Trio and Metropolitain properties, and the bad debt allowance on the Gaia property for the two tenants in default of rent payments. For the six months ended June 30, 2025, the IP Portfolio Net Rental Income ('NRI') was $3,436 (€2,231), compared to $5,528 (€3,765) for the same period of 2024, the decrease being mostly attributable to the above-described factors and the main tenant departure at the Bad Homburg property in Q1 2024. In Q2 2025, NRI, adjusted for IFRIC 21 1 for the portfolio that includes the REIT's proportionate share in joint ventures ("Total Portfolio"), was $4,289 (€2,785), compared to $5,841 (€3,978) for Q2 202. The decrease is due to the same factors as for the IP Portfolio, and the non-recurring $1,720 indemnity placed on the Duisburg and Trio properties made necessary by the early departure of tenants in Q1 2024, that were partially offset by new leases at the Duisburg property on 18% building areas. Leasing Operations As of June 30, 2025, the occupancy rate of the REIT's IP Portfolio was 46.7% and the occupancy rate of the REIT's Total Portfolio was 58.9%. Strategic vacancies are being maintained in the Arcueil and Baldi properties in support of planned dispositions as outlined in the Asset Recycling Plan. Excluding properties designated for asset recycling, the Total Portfolio occupancy rate was 80.5% at June 30, 2025. During the second quarter of 2025, Management negotiated a long-term lease for most of the vacant area of the Neu Isenburg property which, effective beginning in September. The lease execution requires significant capital expenditures and incentives but is expected to bring approximately $300 annual NRI over a 10-year term (with a potential break option in year five). To support leasing activity, management continues to collaborate with on-site brokers and is selectively evaluating tenant improvement allowances as a means to enhance the competitiveness of key assets and optimize rental income. Asset Recycling Plan On April 30, 2025, the REIT completed the sale of the Sablière property, located in downtown Paris, for €18,200 ($28,625), as part of its Asset Recycling Plan. This transaction aligns with the REIT's strategic objectives of repositioning the portfolio and strengthening financial flexibility. Net proceeds of approximately $15,300 (€9,700) will be allocated toward debt reduction and reinvestment in value-enhancing initiatives across the portfolio. An exchange contract confirming the sale of 87.5% of the Arcueil property for €37,540 ($58,420) was announced in January 2025 with closing expected in the second half of 2026. The long closing is required to satisfy the administrative, building permit and financing conditions. The remaining 12.5% of the Arcueil office property is being marketed for a new office tenant. Capital Market Considerations Since the end of 2023, net asset values for the REIT's Total Portfolio have been significantly pressured, primarily due to geopolitical tensions, high inflation, high interest rates and energy costs. The decline in net asset values significantly reduced Unitholders' equity which stood at $186,770 (€116,433) at June 30, 2025. The book value per Unit at June 30, 2025 was $5.62/Unit and $5.57/Unit on a fully-diluted basis, using the weighted average number of units of the REIT (the 'Units') for the period. The closing price of a Unit on the TSX at June 30, 2025 was $0.90/Unit. The REIT has addressed the volatile risks in the current capital markets by selling certain properties, implementing short term leasing initiatives for properties in the REIT's Asset Recycling Plan, maintaining a debt-to-gross-book value ratio of 51.4% of the IP Portfolio (59.5% on the Total Portfolio) at June 30, 2025. Funds From Operations and Adjusted Funds From Operations 2 The REIT's funds from operations (FFO) was slightly negative for the quarter (-$0.01 per unit) largely due to a provision related to bad debt at the Gaia property, where two tenants have defaulted on rent. We are actively addressing the situation. One of the tenants is in the process of being evicted, and we expect the property to return to a more stable position by 2026. Financing Activity The REIT is financed almost exclusively with asset-level, non-recourse financing with an average term to maturity of 2.2 years for the Total Portfolio (2.6 years for the IP Portfolio). For the three-month period ended June 30, 2025, the weighted average interest rate across the Total Portfolio, despite the downward trend in EURIBOR, slightly increased to 3.73% reflecting the 12% fixed interest rate on the short-term €5,600 financing of the Bad Homburg property. As at June 30, 2025, 68% of the REIT's Total Portfolio debt was subject to variable interest rates, primarily associated with short-term financing on properties currently being marketed for sale. In Q2, a new mezzanine loan was taken out on the Bad Homburg property, which was used to repay the €5,500 Trio mortgage and satisfy a waiver condition related to a second-ranking mortgage held by HCOB on the Bad Homburg property. Management intends to refinance the 12% mezzanine facility with conventional financing as leasing activity progresses. Environmental, Social and Governance (ESG) Integration of ESG objectives and strategies into the REIT's business reflects the growing importance of these factors among many of our key stakeholders. The REIT is working to improve its long-term environmental performance, and also to invest in "human capital" for the implementation and monitoring of all ESG initiatives. FORWARD-LOOKING INFORMATION Certain statements contained, or contained in documents incorporated by reference, may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to the REIT's future outlook and anticipated events or results and may include statements regarding the future financial position, business strategy, budgets, occupancy rates, rental rates, productivity, projected costs, capital investments, development and development opportunities, financial results, taxes, plans and objectives of or involving the REIT. Particularly, statements regarding the REIT's future results, performance, achievements, prospects, costs, opportunities, and financial outlook, including those relating to the sale of the Arcueil property, acquisition and capital investment strategies and the real estate industry generally, are forward-looking statements. In some cases, forward-looking information can be identified by terms such as 'may', 'will', 'should', 'expect', 'plan', 'anticipate', 'believe', 'intend', 'estimate', 'predict', 'potential', 'continue' or the negative thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking statements are based on certain factors and assumptions regarding expected growth, results of operations, performance, and business prospects and opportunities. Although management believes that the expectations reflected in the forward-looking information are reasonable, no assurance can be given that these expectations will prove to be correct, and since forward-looking information inherently involves risks and uncertainties, undue reliance should not be placed on such information. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such forward-looking statements. The estimates and assumptions, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth in this press release as well as the following: The REIT cautions that this list of assumptions is not exhaustive. Although the forward-looking statements contained in this press release are based upon assumptions that management believes are reasonable based on information currently available to management, there can be no assurance that actual results will be consistent with these forward-looking statements. When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not, or the times at or by which, such performance or results will be achieved. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements, including, but not limited to: the REIT's ability to execute its growth and capital deployment strategies; the impact of changing conditions in the European office market; the marketability and value of the REIT's portfolio; changes in the attitudes, financial condition and demand in the REIT's demographic markets; fluctuation in interest rates and volatility in financial markets; the geopolitical conflict around the world on the REIT's business, operations and financial results; general economic conditions, including any continuation or intensification of the current economic conditions; developments and changes in applicable laws and regulations; and such other factors discussed under ''Risk and Uncertainties'' in the MD&A dated June 30, 2025 ('the MD&A'). If any risks or uncertainties with respect to the above materialize, or if the opinions, estimates or assumptions underlying the forward-looking statements prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking statements. The opinions, estimates or assumptions referred to above and described in greater detail under ''Risks and Uncertainties'' in the MD&A should be considered carefully by readers. Although management has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other risk factors not presently known or that management believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Certain statements included in press release may be considered a ''financial outlook'' for purposes of applicable Canadian securities laws, and as such, the financial outlook may not be appropriate for purposes other than this press release. All forward-looking statements are based only on information currently available to the REIT and are made as of the date of this press release. Except as expressly required by applicable Canadian securities law, the REIT assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. All forward-looking statements in this press release are qualified by these cautionary statements. Non-GAAP Financial Measures and Other Measures There are financial measures included in this MD&A that do not have a standardized meaning under IFRS. These measures include Funds from Operations, Adjusted Funds from Operations, and other measures presented on a proportionate share basis. These measures have been derived from the REIT's financial statements and applied on a consistent basis as appropriate. Management includes these measures as they represent key performance indicators to management, and it believes certain investors use these measures as a means of assessing relative financial performance. These measures, as computed by the REIT, may differ from similar computations as reported by other entities and, accordingly, may not be comparable to other such entities. These measures should not be considered in isolation or used in substitute for other measures of performance prepared in accordance with IFRS. USE OF OPERATING METRICS The REIT uses certain operating metrics to monitor and measure the operational performance of its portfolio. Operating metrics in this press release include GLA, committed occupancy, Weighted Average Lease Term and average term to maturity. Certain of these operating metrics, may constitute supplementary financial measures as defined in National Instrument 52-112 - Non-GAAP and Other Financial Measures Disclosure. These supplementary measures are not derived from directly comparable measures contained in the REIT's financial statements but may be used by management and disclosed on a periodic basis to depict the historical or future expected financial performance, financial position or cash flow of the REIT. ' Adjusted Funds From Operations ' or ' AFFO ' is a meaningful supplemental measure that can be used to determine the REIT's ability to service debt, fund expansion capital expenditures, fund property development, and provide distributions to Unitholders after considering costs associated with sustaining operating earnings. AFFO calculations are reconciled to net income, which is the most directly comparable IFRS measure. AFFO should not be construed as an alternative to net income or cash flow generated from operating activities, determined in accordance with IFRS. AFFO is defined as FFO subject to certain adjustments, including adjustments for: (i) the non-cash effect of straight-line rents, (ii) the cash effect of the rental guarantee received, (iii) amortization of fair value adjustment on assumed debt, (iv) capital expenditures, excluding those funded by a dedicated cash reserve or capex financing, and (v) amortization of transaction costs on mortgage loans. ' Adjusted Funds From Operations / Unit ' or ' AFFO / Unit ' is AFFO divided by the issued and outstanding Units, plus Exchangeable Securities (fully diluted basis). ' AFFO Payout Ratio ' is the value of declared distributions on Units and Exchangeable Securities, divided by AFFO. ' Average term to maturity ' refers to the average number of years remaining in the lease term. ' Book value per Unit ' refers to the REIT's total equity divided by the Weighted Average number of Units and Exchangeable Securities (on a fully diluted basis). ' Debt-service covenant ratio calculation ' or ' DSCR ' refers to the rental income divided by the debt service, including interest and amortization. ' Debt-to-Gross-Book Value ' refers to the REIT's apportioned amount of indebtedness respectively in the IP Portfolio and the Total Portfolio. Indebtedness on an IP and Total Portfolio basis is calculated as the sum of (i) lease liabilities, (ii) mortgage loans, (iii) other long-term liabilities, and (iv) deferred tax liabilities. Indebtedness does not include certain liabilities as is the case for the Exchangeable Securities and at the joint venture level for the contribution from the REIT and its partners. ' Exchangeable Securities ' means the exchangeable securities issued by CanCorpEurope, in the form of interest bearing notes, non-interest bearing notes and variable share capital. ' Fully diluted basis ' refers to a nominal value divided by the issued and outstanding Units, plus Exchangeable Securities. ' Funds From Operations ' or ' FFO ' follows the definition prescribed by the Real Estate Property Association of Canada publication on Funds From Operations & Adjusted Funds From Operations, dated January 2023 with one exception. Management considers FFO to be a meaningful supplemental measure that can be used to determine the REIT's ability to service debt, fund capital expenditures, and provide distributions to Unitholders. FFO is reconciled to net income, which is the most directly comparable IFRS measure. FFO should not be construed as an alternative to net income or cash flow generated from operating activities, determined in accordance with IFRS. FFO for the REIT is defined as net income in accordance with IFRS, subject to certain adjustments including adjustments for: (i) acquisition, eviction and disposal costs (if any), (ii) net change in fair value of investment properties, (iii) net change in fair value of derivative financial instruments at fair value through profit and loss, (iv) net changes in fair value of Exchangeable Securities, (v) finance costs related to distribution on Exchangeable Securities, (vi) adjustment for property taxes accounted for under IFRIC 21 (if any), (vii) loss on exercise of lease option (if any), (viii) adjustment for foreign exchange gains or losses on monetary items not forming part of an investment in a foreign operation (if any), (ix) gain or loss on disposal of investment properties or an interest in a subsidiary (if any), (x) finance income earned from loans to joint ventures (if any), (xi) loss on extinguishment of loans (if any), (xii) deferred taxes, (xiii) non-controlling interest, (xiv) goodwill / bargain purchase gains upon acquisition, and (xv) income taxes on sale of investment properties and provision for tax reassessment. Exchangeable Securities are recorded as liabilities. Exchangeable Securities are recorded at fair value through profit and loss in accordance with IFRS. However, both are considered as equity for the purposes of calculating FFO and AFFO, as they are economically equivalent to the REIT's Units, with the same features and distribution rights, that are economically equivalent to the distribution received by Unitholders. ' Funds From Operations / Unit ' or ' FFO / Unit ' is FFO divided by the issued and outstanding Units, plus Exchangeable Securities (fully diluted basis). ' Gross book value ' refers to the total consolidated assets for the IP Portfolio and Total Portfolio. ' Interest Coverage Ratio ' or ' ICR ' covenant refers to a financial metric used to assess a REIT's ability to meet its interest obligations on outstanding debt. It indicates how many times the operating profit can cover the REIT's interest expenses over a given period. ' Investments in Joint Ventures ' refers to the REIT's proportionate share of the financial position and results of operation of its investment in joint ventures, which are accounted for using the equity method under IFRS in the consolidated financial statements, are presented below using the proportionate consolidation method at the REIT's ownership percentage of the related investment. Management views this method as relevant in demonstrating the REIT's ability to manage the underlying economics of the related investments, including the financial performance and the extent to which the underlying assets are leveraged, which is an important component of risk management. For the purpose of the proportionate consolidation, the initial investment of both partners in the joint ventures were considered as being equity investments as opposed to a combination of equity and loans and accordingly, the related proportionate consolidation balance sheet items were eliminated as well as the associated finance income and finance costs. As the loans to the joint ventures were considered equity for proportionate consolidation purposes, any impairment recorded on the loans in accordance with IFRS 9 has been reversed for MD&A purposes. As such, any impairment recorded for IFRS purposes results in a difference in equity when reconciling IFRS and proportionate consolidation reporting. ' Investment Properties Portfolio ' or ' IP Portfolio ' refers to the seven wholly owned properties of the REIT. ' Net Rental Income Adjusted for IFRIC 21 ' refers to Net Rental Income excluding property taxes recorded under IFRIC 21 rules. ' Net Rental Income ' or ' NRI ' refers to the rental income plus operating cost recoveries income plus other property revenue, less property operating costs and other costs. ' Total Portfolio ' refers to the seven properties referred to as the IP Portfolio and the five properties of the REIT held in joint-ownership with other parties. ' Weighted average lease term ' or ' WALT ' is a metric used to measure a property portfolio's risk of vacancy and refers to the average period in which all leases in a property or portfolio will expire. It is calculated as the sum of the percentages of rentable area multiplied by the number of years in each remaining lease term. ' Weighted Average number of Units ' refers to the mean of periodic values in the number of issued and outstanding Units over a specific reporting period. FFO and AFFO Calculation The reconciliation of FFO and AFFO for the three-month periods ended June 30, 2025 and 2024, based on proportionate consolidation figures including REIT's interest in joint ventures is as follows: Overview – GAAP and Non-GAAP The REIT has identified specific key performance indicators to measure the progress of its long-term objectives. These are set out below: Six months ended June 30, (thousands of $ except per Unit and other data) 2025 2024 2025 2024 Financial performance metrics Rental revenue 4,419 4,062 8,657 8,693 Rental revenue - Total Portfolio (1) 6,877 6,067 13,418 12,824 Net rental income 3,280 4,616 3,436 5,528 Net rental income - Total Portfolio (1) 5,401 6,799 7,358 10,435 Net income, attributable to the Trust (11,251) (20,140) (9,329) (33,718) Funds from Operations (FFO) (1) (2) (222) 727 (98) 1,770 Adjusted Funds from Operations (AFFO) (1) (2) (514) (108) 59 639 FFO per Unit (diluted) (1) (2) (0.01) 0.02 (0.00) 0.05 AFFO per Unit (diluted) (1) (2) (0.02) (0.00) 0.00 0.02 (1) See the section "Non-GAAP Financial Measures" in the Q1 MD&A for more information on the REIT's non-GAAP financial measures and reconciliations thereof. (2) The reconciliation of FFO and AFFO to Net Income can be found under the section 'Non-GAAP Reconciliation (FFO and AFFO)' in the Q2 MD&A. Expand About Inovalis REIT Inovalis REIT is a real estate investment trust listed on the Toronto Stock Exchange in Canada. It was founded in 2013 by Inovalis and invests in office properties in primary markets of France, Germany and Spain. It holds 12 assets. Inovalis REIT acquires (indirectly) real estate properties via CanCorpEurope, authorized Alternative Investment Fund (AIF) by the CSSF in Luxemburg, and managed by Inovalis S.A. About Inovalis Group Inovalis S.A. is a French Alternative Investment fund manager, authorized by the French Securities and Markets Authority (AMF) under AIFM laws. Inovalis S.A. and its subsidiaries (Advenis S.A., Advenis REIM) invest in and manage Real Estate Investment Trusts such as Inovalis REIT, open ended funds (SCPI) with stable real estate focus such as Eurovalys (for Germany) and Elialys (Southern Europe), Private Thematic Funds raised with Inovalis partners to invest in defined real estate strategies and direct Co-investments on specific assets. Inovalis Group ( founded in 1998 by Inovalis SA, is an established pan European real estate investment player with EUR 7 billion of AuM and with offices in all the world's major financial and economic centers in Paris, Luxembourg, Madrid, Frankfurt, Toronto and Dubai. The group is comprised of 300 professionals, providing Advisory, Fund, Asset and Property Management services in Real Estate as well as Wealth Management services. SOURCE Inovalis Real Estate Investment Trust Net rental income adjusted for IFRIC 21 is a Non-GAAP Measure. See the "Net Rental Income" section for further discussion on the composition and usefulness of this metric as well as a quantitative reconciliation to its most directly comparable financial measure. See the section "Non-GAAP Financial measures and Other Measures" for more information on the REIT's non-GAAP financial measures in the Q2 2025 MD&A. FFO and AFFO are non-GAAP measures. See the section "Non-GAAP Financial measures and Other Measures" for more information on the REIT's Non-GAAP financial measures. A reconciliation of FFO and AFFO to Net Income can be found on page 8.
Business Wire
4 minutes ago
- Business Wire
Winmark Corporation Announces Governance Changes
MINNEAPOLIS--(BUSINESS WIRE)--Winmark Corporation (Nasdaq: WINA) announced today that Jenele C. Grassle has informed the company of her decision not to stand for re-election to the Winmark Board of Directors at its next Annual Meeting of Shareholders in April 2026. Ms. Grassle was elected to Winmark's Board of Directors in 2001 and currently serves as a member of both the Compensation and Nominating Committees. 'Jenele's contributions to Winmark over the past twenty-four years have been significant and meaningful. Over the course of her Board tenure, Jenele has been a key contributor and has led the effort to enhance the governance structure of the company by adding term limits. She has actively identified and recruited many of our current Board of Directors as well,' noted Brett D. Heffes, Chair and Chief Executive Officer. 'I want to personally thank Jenele for her service on behalf of our shareholders and her dedication to helping us over the years. Her leadership has been exceptional, and I thank her for that.' Additionally, the Company announced that it has named Keith Credendino to its Board of Directors and Audit Committee. Mr. Credendino has over 25 years of successful executive and technology leadership experience. Currently, Mr. Credendino is Chief Information and Technology Officer at Macy's, Inc. (NYSE: M), a trusted source for quality brands through their iconic nameplates – Macy's, Bloomingdale's and Bluemercury. Prior to joining Macy's, Mr. Credendino was Senior Vice President of Digital Technology & Enterprise Data at Inspire Brands, a multi-brand global restaurant company, and previously served as a technology executive at several enterprise organizations, including The Home Depot, InterContinental Hotels Group (IHG), and Cox Enterprises. 'I am thrilled that Keith will be joining our Board of Directors. His expertise in delivering technology solutions across a variety of retail and franchise companies will be invaluable to Winmark and our franchisees as we enhance our technology offerings and seek to fulfill our mission to provide Resale for Everyone®,' stated Mr. Heffes. Winmark - the Resale Company®, is a nationally recognized franchisor focused on sustainability and small business formation. We champion and guide entrepreneurs interested in operating one of our award winning resale franchises: Plato's Closet®, Once Upon A Child®, Play It Again Sports®, Style Encore® and Music Go Round®. At June 28, 2025, there were 1,371 franchises in operation and over 2,800 available territories. An additional 77 franchises have been awarded but are not open. This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'), relating to future events or the future financial performance of the Company. Such forward-looking statements are only predictions or statements of intention subject to risks and uncertainties and actual events or results could differ materially from those anticipated. Because actual results may differ, shareholders and prospective investors are cautioned not to place undue reliance on such forward-looking statements.
Business Wire
4 minutes ago
- Business Wire
INVESTIGATION ALERT: Robbins Geller Rudman & Dowd LLP Launches Investigation into Align Technology, Inc. and Encourages Investors and Potential Witnesses to Contact Law Firm
SAN DIEGO--(BUSINESS WIRE)--The law firm of Robbins Geller Rudman & Dowd LLP is investigating potential violations of U.S. federal securities laws involving Align Technology, Inc. (NASDAQ: ALGN) focused on whether Align Technology and certain of its executives made false and/or misleading statements and/or failed to disclose material information to investors. If you have information that could assist in the Align Technology investigation or if you are an Align Technology investor who suffered a loss and would like to learn more, you can provide your information here: You can also contact attorneys J.C. Sanchez or of Robbins Geller by calling 800/449-4900 or via e-mail at info@ THE COMPANY: Align Technology is a global medical device company that designs, manufactures, and sells the Invisalign® System of clear aligners, iTero™ intraoral scanners, and exocad™ CAD/CAM software for digital orthodontics and restorative dentistry. THE REVELATION: On July 31, 2025, Align Technology released second quarter 2025 financial results, disclosing revenue of $1.01 billion, representing a year-over-year decrease of 1.6%. Align Technology further revealed that it 'expect[s] to take a series of actions in the second half of fiscal 2025 to streamline operations and reallocate resources to better align with our long-term growth and profitability objective.' On this news, the price of Align Technology stock fell 37%. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices.
