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Business Wire
5 days ago
- Business
- Business Wire
Forescout Partners with Coalfire to Deliver FedRAMP-Authorized Cybersecurity Solutions for U.S. Public Sector Agencies
SAN JOSE, Calif.--(BUSINESS WIRE)-- Forescout Technologies, Inc., a global cybersecurity leader, today announced a strategic partnership with Coalfire to accelerate the FedRAMP Authorization to Operate (ATO) processes for Forescout Cloud Services. 'Our partnership with Coalfire positions Forescout Cloud Services to meet the highest security standards and accelerate the path to FedRAMP authorization," said Mike Walsh, President of Forescout Government Systems. This collaboration builds on Forescout's 20-year track record of providing cost-effective security solutions for US federal civilian and DoD agencies to support them in modernizing their cybersecurity posture in line with the Federal Zero Trust Strategy, including the DoD's device requirements and evolving cloud security mandates. Forescout Cloud delivers scalable, intelligent, and integrated cybersecurity for all connected edge devices, as well as IT, Operational Technology (OT), and Internet of Things (IoT). Leveraging Coalfire's deep FedRAMP expertise, Forescout can rapidly meet the rigorous security and compliance requirements of all U.S. federal agencies. 'Federal agencies can't afford delays when it comes to cloud modernization and Zero Trust for IT devices and the future of Zero Trust for OT security,' said Mike Walsh, President of Forescout Government Systems. 'Our partnership with Coalfire positions Forescout Cloud Services to meet the highest security standards and accelerate the path to FedRAMP authorization. Together, we're enabling agencies to strengthen cyber resilience and maximize ROI.' The Forescout 4D Platform™ is built for high-stakes federal networks that reflect real-world deployments in DoD, DHS, and other federal agencies. Unlike other network security vendors that create vendor lock-in and limit flexibility in environments with diverse network gear, Forescout is the alternative and strategic enhancement to CISOs and cyber managers who have a deliberate approach to network vendor competition. With Forescout Cloud Services, federal agencies will be able to: Form the foundation of Zero Trust security with enterprise-wide asset intelligence and deployment health monitoring. Take the next steps in Zero Trust enforcement, including network segmentation and real-time policy simulation. Eliminate the need for manual reports with automated reporting powered by generative AI that helps prove adherence to executive orders and mandates. Deploy advanced threat detection and response, with full Security Orchestration, Automation, and Response (SOAR) and Security Operations Center (SOC) integration across hybrid and cloud environments. Benefit from native support for IPv6 addressing that aligns with federal modernization mandates. 'Coalfire's FastRAMP accelerator services are designed to help cloud innovators like Forescout navigate and succeed in the FedRAMP process with confidence,' said Karen Laughton, Executive Vice President at Coalfire. 'This partnership reflects our shared mission of securing critical federal infrastructure and bringing trusted cloud capabilities to government customers, faster.' Join the Conversation Forescout will host a webinar, led by its cloud leadership team, to share the company's vision and roadmap for delivering FedRAMP-authorized cloud services on July 15 at 11 a.m. CT. Register here. About Forescout The Forescout 4D Platform™ provides complete asset intelligence and control across IT, OT, and IoT environments. For more than 20 years, Fortune 100 organizations, government agencies, and large enterprises have trusted Forescout as their foundation to manage cyber risk, ensure compliance, and mitigate threats. With seamless context sharing and workflow orchestration across more than 100 full-featured security and IT product integrations, Forescout makes every cybersecurity investment more effective. Forescout Research – Vedere Labs is the industry leader in device intelligence, curating unique and proprietary threat intelligence that powers Forescout's platform. About Coalfire Coalfire is a global services and solutions company that specializes in cyber advisory, assessment, and security. The company also develops cutting-edge technology platforms that automate defenses against security threats for the world's leading enterprises, cloud providers, and SaaS companies. Coalfire is the foremost provider of FedRAMP compliance assessments and penetration testing services in the United States. For more information, visit and follow on LinkedIn.
Irish Independent
29-05-2025
- Health
- Irish Independent
Three-day seminar on regenerative farming to take centre stage in Wexford this weekend
From Friday, May 30 in the Riverside Hotel, to Sunday, June 1 in Enniscorthy Castle, a three-day seminar to do with regenerative farming is being hosted by Moyne Veterinary Hospital, with a very impressive line-up of speakers from various parts of the industry and country. Regenerative farming is about restoring the natural rhythms to the soil - bringing the living layer back to a vibrant and healthy balance. This humus layer when working right can hold one hundred times its own volume of water, acting as a living sponge. In the South East of Ireland, organic matter has reached an all time low of two per cent. According to Joe Kavanagh of Moyne Veterinary Hospital: 'Farmers have seen a huge upsurge of input costs squeezing margins, with them having to milk more cows, or grow more grain. To do this they have been pushing the land, the animals, and themselves further, with more chemical inputs, higher feed bills, and spiralling costs. This is the model that many farmers have been in for quite some time.' "There is a new breed of farmers emerging that are taking a different approach. They are looking to reduce inputs, build soil carbon, enhance the microbial life of the soil, bring back the biodiversity in our fields hedgerows, and build a new future,' he added. As such, the event will be a forum of farmers talking to farmers on how they can produce great quality food, with higher nutrient value and enhance the land. Mike Walsh, a college lecturer in SETU within the Masters of Science in Agriculture programme and dairy famers, will be kicking off the programme on the Friday with a talk on maximising the use of slurry using enzymes, and harnessing the farm's potential with multi-species swards. David Wallis, a former Teagasc advisor, farmer and coordinator of the DANU project, will speak on the EU funded project which is already illustrating impressive results. According to the study, grassland farmers reduced nitrogen usage from 40 to 70 per cent, and tillage farmers reduced it by 40 per cent, fungicide usage reduced by 70 per cent, and insecticide usage by 100 per cent. through regenerative and biological farming.t Other speakers include, tillage farmer Tommy Tierney, beef and sheep farmer Bronagh O'Kane, and father and son dairy farmers Fraser and Jonathan Rothwell. The next day, author and lecturer Dr Verner Wheelock will be speaking on the detrimental effects of poor food quality and how to can change it. Well known vet Tommy Heffernan will speak on the microbiome - from soil health, to animal and human health, while Yvanna Greene will talk on bees and biodiversity. Sunday will feature Alan Poole, dairy farmer ambassador of Farming With Nature, on making a difference through enhancing biodiversity. Herbalist Silja Harms will do a workshop on how to make your own herbal salves, and give a talk on common 'herbal heros' that are all around. The concluding speaker will be Mary Reynolds, Chelsea Flower Gold medallist, best-selling author and tireless environmentalist, on how to be 'guardians not gardeners.'
Associated Press
08-05-2025
- Business
- Associated Press
LFL, Canada's Largest Home Retailer, Releases Results for the Quarter Ended March 31, 2025; Record Q1 Revenue and Strong EPS Growth
Toronto, Ontario--(Newsfile Corp. - May 8, 2025) - Leon's Furniture Limited (TSX: LNF) ('LFL' or the 'Company'), today announced financial results for the quarter ended March 31, 2025. Financial Highlights - Q1-2025 These comparisons are with Q1-2024 unless stated otherwise. First Quarter - 6 Year Financial Performance of LFL [ This image cannot be displayed. Please visit the source: ] To view an enhanced version of this graphic, please visit: (1) For a full explanation of the Company's use of non-IFRS and supplementary financial measures, please refer to the sections of this press release with the headings 'Non-IFRS Financial Measures' and 'Supplementary Financial Measures'. Mike Walsh, President and CEO of LFL, commented, 'In Q1, our team's efforts to ensure optimal inventory availability enabled us to drive growth including a catch up on delivering sales booked during the fourth quarter of last year, leading to strong top-line results against an already robust comparable quarter. We continued to grow key categories during Q1, with particular strength in higher-margin furniture sales. The diversity of our business model was further demonstrated by another strong period of commercial, warranty and insurance sales growth. Our relentless commitment to cost control and operational efficiencies, combined with lower interest rates and sales growth, delivered exceptional profitability despite a challenging operating environment.' Mr. Walsh continued, 'While macroeconomic challenges persist related to tariff uncertainty across the retail sector, we are well-positioned, with an excellent in-stock inventory position, to continue delivering value to Canadian consumers. Our unmatched scale and rock-solid balance sheet, with $469.7 million in unrestricted liquidity, positions us to navigate market headwinds while delivering reliable returns to shareholders through our unwavering commitment to customer satisfaction.' Summary financial highlights for the three months ended March 31, 2025 and March 31, 2024 [This table cannot be displayed. Please visit the source.] Same Store Sales (1) [This table cannot be displayed. Please visit the source.] Historical Same Store Sales (1) as previously reported based on comparable quarters [ This image cannot be displayed. Please visit the source: ] To view an enhanced version of this graphic, please visit: (1) Please refer to the sections of this press release with the headings 'Non-IFRS Financial Measures' and 'Supplementary Financial Measures'. (2) Selling, general and administrative expenses ('SG&A') Revenue For the three months ended March 31, 2025, revenue was $579.5 million compared to $562.3 million in the first quarter of 2024 an increase of $17.2 million or 3.1%. The improvement was primarily driven by a 5.2% increase in furniture sales as a stronger inventory position enabled a catch-up of delivery on written sales from the fourth quarter and continued sales momentum in the first quarter. Additionally, the Company saw strong growth in the commercial appliance, warranty and insurance businesses. The strong overall performance was partially offset by softness in the mattress category. Same Store Sales (1) Same store sales in the quarter increased by 3.0% compared to the prior year's first quarter, driven by factors discussed in the revenue section. Gross Profit The gross profit margin for the first quarter of 2025 was 44.59% compared to 43.87% for the first quarter of 2024. This increase was primarily driven by favourable retail sales mix with the growth in the furniture category, improved furniture margin rate driven by assortment and sourcing improvements, supply chain efficiencies and sales growth in the higher margin warranty and insurance business. This was partially offset by increased sales mix in the lower margin commercial channel. Selling, General and Administrative Expenses ('SG&A') The Company's SG&A as a percentage of revenue for the first quarter of 2025 was 38.90%, a decrease of 42 basis points over the first quarter of 2024. The improvement was driven by lower point-of-sale retail financing fees as interest rates have declined, enhanced productivity across our distribution network and lower advertising spend due to the timing of promotions. This was offset by increased professional fees, stewardship recycling fees and minimum wage impacts. Adjusted Net Income (1) and Adjusted Diluted Earnings Per Share (1) Adjusted net income for the quarter totaled $24.1 million, which represents an increase of $7.7 million or 47.0% over the prior year's quarter. The improvement is driven by strong sales growth, gross profit rate improvement and effective management of SG&A costs. The Company recognized another $1.4 million of the remaining legal settlement with CURO Group Holding's Corp ('CURO'), as disclosed in Q4 2024. The adjusted diluted earnings per share in the first quarter of 2025 was $0.35 per share, an increase of 45.8% over the prior year's quarter. Net Income and Diluted Earnings Per Share Net income for the first quarter of 2025 was $23.8 million, or $0.35 per diluted earnings per share as compared to $0.27 per diluted earnings per share recorded in the prior year's quarter, an increase of $0.08 per share or 29.6% (net income of $18.8 million in the first quarter of 2024). (1) Please refer to the sections of this press release with the headings 'Non-IFRS Financial Measures' and 'Supplementary Financial Measures'. Dividends As previously announced, the Company paid a quarterly dividend of $0.20 per common share on 7th day of April 2025. Today the Directors have declared a quarterly dividend of $0.20 per common share payable on the 8th day of July 2025 to shareholders of record at the close of business on the 10th day of June 2025. As of 2007, dividends paid by Leon's Furniture Limited are 'eligible dividends' pursuant to the changes to the Income Tax Act under Bill C-28, Canada. Outlook Given the Company's strong and continuously improving financial position, our principal objective is to increase our market share and profitability. We remain focused on our commitment to effectively manage our costs but to also continuously invest in the business with growth initiatives that we expect will lead to increased traffic to both our online eCommerce sites and our 298 store locations across Canada. The Company is working towards creating the previously announced real estate investment trust in respect of some of its real estate holdings and will provide further information at the appropriate time. Non-IFRS Financial Measures The Company uses financial measures that do not have standardized meaning under IFRS and may not be comparable to similar measures presented by other entities. The Company calculates the non-IFRS financial measures by adjusting certain IFRS measures for specific items the Company believes are significant, but not reflective of underlying operations in the period, as detailed below: [This table cannot be displayed. Please visit the source.] Adjusted Net Income The Company calculates comparable measures by excluding the effect of changes in fair value of derivative instruments, related to the net effect of USD-denominated forward contracts. The Company uses derivative instruments to manage its financial risk in accordance with the Company's corporate treasury policy. Management believes excluding from income the effect of these mark-to-market valuations and changes thereto, until settlement, better aligns the intent and financial effect of these contracts with the underlying cash flows. Adjusted EBITDA Adjusted earnings before interest, income taxes, depreciation and amortization, mark-to-market adjustment due to the changes in the fair value of the Company's financial derivative instruments and any non-recurring charges to income ('Adjusted EBITDA') is a non-IFRS financial measure used by the Company. The Company considers adjusted EBITDA to be an effective measure of profitability on an operational basis and is commonly regarded as an indirect measure of operating cash flow, a significant indicator of success for many businesses. The Company's Adjusted EBITDA may not be comparable to the Adjusted EBITDA measure of other companies, but in management's view appropriately reflects the Company's specific financial condition. This measure is not intended to replace net income, which, as determined in accordance with IFRS, is an indicator of operating performance. The following is a reconciliation of reported net income to adjusted EBITDA: [This table cannot be displayed. Please visit the source.] Total System Wide Sales Total system wide sales refer to the aggregation of revenue recognized in the Company's consolidated financial statements plus the franchise sales occurring at franchise stores to their customers which are not included in the revenue figure presented in the Company's consolidated financial statements. Total system wide sales is not a measure recognized by IFRS and does not have a standardized meaning prescribed by IFRS, but it is a key indicator used by the Company to measure performance against prior period results. Therefore, total system-wide sales as discussed in this MD&A may not be comparable to similar measures presented by other issuers. We believe that disclosing this measure is meaningful to investors because it serves as an indicator of the strength of the Company's overall store network, which ultimately impacts financial performance. Franchise Sales Franchise sales figures refer to sales occurring at franchise stores to their customers which are not included in the revenue figures presented in the Company's consolidated financial statements, or in the same store sales figures in this MD&A. Franchise sales is not a measure recognized by IFRS, and does not have a standardized meaning prescribed by IFRS, but it is a key indicator used by the Company to measure performance against prior period results. Therefore, franchise sales as discussed in this MD&A may not be comparable to similar measures presented by other issuers. Once again, we believe that disclosing this measure is meaningful to investors because it serves as an indicator of the strength of the Company's brands, which ultimately impacts financial performance. Supplementary Financial Measures The Company uses supplementary financial measures to disclose financial measures that are not (a) presented in the financial statements and (b) is, or is intended to be, disclosed periodically to depict the historical or expected future financial performance, financial position or cash flow, that is not a non-IFRS financial measure as detailed above. Same Store Sales Same store sales are defined as sales generated by stores, both in store and through online transactions, that have been open for more than 12 months on a fiscal basis. Same store sales as discussed in this MD&A may not be comparable to similar measures presented by other issuers, however this measure is commonly used in the retail industry. We believe that disclosing this measure is meaningful to investors because it enables them to better understand the level of growth of our business. About Leon's Furniture Limited Leon's Furniture Limited is the largest retailer of furniture, appliances and electronics in Canada. Our retail banners include: Leon's; The Brick; Brick Outlet; and The Brick Mattress Store. Finally, with The Brick's Midnorthern Appliance banner alongside with Leon's Appliance Canada banner, this makes the Company the country's largest commercial retailer of appliances to builders, developers, hotels and property management companies. The Company has 298 retail stores from coast to coast in Canada under various banners. The Company operates six websites: and Cautionary Statement This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Leon's Furniture Limited's periodic reports including the annual report or in the filings made by Leon's Furniture Limited from time to time with securities regulatory authorities. This News Release may include certain 'forward-looking statements' which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify beneficial business opportunities, failure to convert the potential in the pursued business opportunities to tangible benefits to the Company or its shareholders, the ability of the Company to counteract the potential impact of pandemics on factors relevant to the Company's business, delays in obtaining or failures to obtain required shareholder and TSX approvals, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For further information, please contact: To view the source version of this press release, please visit
Yahoo
08-05-2025
- Business
- Yahoo
LFL, Canada's Largest Home Retailer, Releases Results for the Quarter Ended March 31, 2025; Record Q1 Revenue and Strong EPS Growth
Toronto, Ontario--(Newsfile Corp. - May 8, 2025) - Leon's Furniture Limited (TSX: LNF) ("LFL" or the "Company"), today announced financial results for the quarter ended March 31, 2025. Financial Highlights - Q1-2025These comparisons are with Q1-2024 unless stated otherwise. System-wide sales for the quarter were $696.1 million, an increase of 2.7%. Record Q1 Revenue was recorded at $579.5 million, an increase of 3.1%, driven by strong performance in the furniture category and commercial appliance business. Same store sales increase (1) of 3.0% following a 9.0% increase in the first quarter of the prior year. Gross profit margin was 44.59%, a 72-basis point improvement driven by a favourable retail category sales mix, improved furniture margin rate as well as supply chain related cost savings. Adjusted net income(1) for the quarter totaled $24.1 million, an increase of 47.0%. Adjusted Diluted EPS for the quarter was $0.35, an increase of 45.8%. On March 31, 2025, unrestricted liquidity was $469.7 million, comprised of cash, cash equivalents, debt and equity instruments and the undrawn revolving credit facility. First Quarter - 6 Year Financial Performance of LFL To view an enhanced version of this graphic, please visit: (1) For a full explanation of the Company's use of non-IFRS and supplementary financial measures, please refer to the sections of this press release with the headings "Non-IFRS Financial Measures" and "Supplementary Financial Measures". Mike Walsh, President and CEO of LFL, commented, "In Q1, our team's efforts to ensure optimal inventory availability enabled us to drive growth including a catch up on delivering sales booked during the fourth quarter of last year, leading to strong top-line results against an already robust comparable quarter. We continued to grow key categories during Q1, with particular strength in higher-margin furniture sales. The diversity of our business model was further demonstrated by another strong period of commercial, warranty and insurance sales growth. Our relentless commitment to cost control and operational efficiencies, combined with lower interest rates and sales growth, delivered exceptional profitability despite a challenging operating environment." Mr. Walsh continued, "While macroeconomic challenges persist related to tariff uncertainty across the retail sector, we are well-positioned, with an excellent in-stock inventory position, to continue delivering value to Canadian consumers. Our unmatched scale and rock-solid balance sheet, with $469.7 million in unrestricted liquidity, positions us to navigate market headwinds while delivering reliable returns to shareholders through our unwavering commitment to customer satisfaction." Summary financial highlights for the three months ended March 31, 2025 and March 31, 2024 For theThree months ended(C$ in millions except %, share and per share amounts)March 31, 2025 March 31, 2024 $ Increase (Decrease) % Increase (Decrease) Total system-wide sales (1)696.1 677.7 18.4 2.7%Franchise sales (1)116.6 115.4 1.2 1.0% Revenue579.5 562.3 17.2 3.1%Cost of sales321.1 315.5 5.6 1.8%Gross profit258.4 246.7 11.7 4.7%Gross profit margin as a percentage of revenue44.59% 43.87% Selling, general and administrative expenses (2)225.4 221.1 4.3 1.9%SG&A as a percentage of revenue38.90% 39.32% Other income(1.4 )- (1.4 )100.0% Income before net finance costs and income tax expense34.4 25.6 8.8 34.4%Net finance costs(2.6 )(4.6 )2.0 (43.5%)Income before income taxes31.8 21.0 10.8 51.4%Income tax expense7.7 4.6 3.1 67.4%Adjusted net income (1)24.1 16.4 7.7 47.0%Adjusted net income as a percentage of revenue (1)4.16% 2.92% After-tax mark-to-market loss (gain) on financial derivative instruments (1)0.3 (2.4 )2.7 (112.5%)Net income23.8 18.8 5.0 26.6% Basic weighted average number of common shares68,206,225 68,051,318 Basic earnings per share $ 0.35$ 0.28$ 0.07 25.0%Adjusted basic earnings per share (1) $ 0.35$ 0.24$ 0.11 45.8% Diluted weighted average number of common shares68,646,568 68,646,657 Diluted earnings per share $ 0.35$ 0.27$ 0.08 29.6%Adjusted diluted earnings per share (1) $ 0.35$ 0.24$ 0.11 45.8% Common share dividends declared $ 0.20$ 0.18$ 0.02 11.1% Same Store Sales (1) For theThree months ended(C$ in millions, except %)March 31, 2025 March 31, 2024 $ Increase % Increase Same store sales (1)564.7 548.1 16.6 3.0% Historical Same Store Sales (1) as previously reported based on comparable quarters To view an enhanced version of this graphic, please visit: (1) Please refer to the sections of this press release with the headings "Non-IFRS Financial Measures" and "Supplementary Financial Measures". (2) Selling, general and administrative expenses ("SG&A") Revenue For the three months ended March 31, 2025, revenue was $579.5 million compared to $562.3 million in the first quarter of 2024 an increase of $17.2 million or 3.1%. The improvement was primarily driven by a 5.2% increase in furniture sales as a stronger inventory position enabled a catch-up of delivery on written sales from the fourth quarter and continued sales momentum in the first quarter. Additionally, the Company saw strong growth in the commercial appliance, warranty and insurance businesses. The strong overall performance was partially offset by softness in the mattress category. Same Store Sales (1) Same store sales in the quarter increased by 3.0% compared to the prior year's first quarter, driven by factors discussed in the revenue section. Gross Profit The gross profit margin for the first quarter of 2025 was 44.59% compared to 43.87% for the first quarter of 2024. This increase was primarily driven by favourable retail sales mix with the growth in the furniture category, improved furniture margin rate driven by assortment and sourcing improvements, supply chain efficiencies and sales growth in the higher margin warranty and insurance business. This was partially offset by increased sales mix in the lower margin commercial channel. Selling, General and Administrative Expenses ("SG&A") The Company's SG&A as a percentage of revenue for the first quarter of 2025 was 38.90%, a decrease of 42 basis points over the first quarter of 2024. The improvement was driven by lower point-of-sale retail financing fees as interest rates have declined, enhanced productivity across our distribution network and lower advertising spend due to the timing of promotions. This was offset by increased professional fees, stewardship recycling fees and minimum wage impacts. Adjusted Net Income (1) and Adjusted Diluted Earnings Per Share (1) Adjusted net income for the quarter totaled $24.1 million, which represents an increase of $7.7 million or 47.0% over the prior year's quarter. The improvement is driven by strong sales growth, gross profit rate improvement and effective management of SG&A costs. The Company recognized another $1.4 million of the remaining legal settlement with CURO Group Holding's Corp ("CURO"), as disclosed in Q4 2024. The adjusted diluted earnings per share in the first quarter of 2025 was $0.35 per share, an increase of 45.8% over the prior year's quarter. Net Income and Diluted Earnings Per Share Net income for the first quarter of 2025 was $23.8 million, or $0.35 per diluted earnings per share as compared to $0.27 per diluted earnings per share recorded in the prior year's quarter, an increase of $0.08 per share or 29.6% (net income of $18.8 million in the first quarter of 2024). (1) Please refer to the sections of this press release with the headings "Non-IFRS Financial Measures" and "Supplementary Financial Measures". Dividends As previously announced, the Company paid a quarterly dividend of $0.20 per common share on 7th day of April 2025. Today the Directors have declared a quarterly dividend of $0.20 per common share payable on the 8th day of July 2025 to shareholders of record at the close of business on the 10th day of June 2025. As of 2007, dividends paid by Leon's Furniture Limited are "eligible dividends" pursuant to the changes to the Income Tax Act under Bill C-28, Canada. Outlook Given the Company's strong and continuously improving financial position, our principal objective is to increase our market share and profitability. We remain focused on our commitment to effectively manage our costs but to also continuously invest in the business with growth initiatives that we expect will lead to increased traffic to both our online eCommerce sites and our 298 store locations across Canada. The Company is working towards creating the previously announced real estate investment trust in respect of some of its real estate holdings and will provide further information at the appropriate time. Non-IFRS Financial Measures The Company uses financial measures that do not have standardized meaning under IFRS and may not be comparable to similar measures presented by other entities. The Company calculates the non-IFRS financial measures by adjusting certain IFRS measures for specific items the Company believes are significant, but not reflective of underlying operations in the period, as detailed below: Non-IFRS Measure IFRS Measure Adjusted net income Net income Adjusted income before income taxes Income before income taxes Adjusted earnings per share - basic Earnings per share - basic Adjusted earnings per share - diluted Earnings per share - diluted Adjusted EBITDA Net income Adjusted Net Income The Company calculates comparable measures by excluding the effect of changes in fair value of derivative instruments, related to the net effect of USD-denominated forward contracts. The Company uses derivative instruments to manage its financial risk in accordance with the Company's corporate treasury policy. Management believes excluding from income the effect of these mark-to-market valuations and changes thereto, until settlement, better aligns the intent and financial effect of these contracts with the underlying cash flows. Adjusted EBITDA Adjusted earnings before interest, income taxes, depreciation and amortization, mark-to-market adjustment due to the changes in the fair value of the Company's financial derivative instruments and any non-recurring charges to income ("Adjusted EBITDA") is a non-IFRS financial measure used by the Company. The Company considers adjusted EBITDA to be an effective measure of profitability on an operational basis and is commonly regarded as an indirect measure of operating cash flow, a significant indicator of success for many businesses. The Company's Adjusted EBITDA may not be comparable to the Adjusted EBITDA measure of other companies, but in management's view appropriately reflects the Company's specific financial condition. This measure is not intended to replace net income, which, as determined in accordance with IFRS, is an indicator of operating performance. The following is a reconciliation of reported net income to adjusted EBITDA: For theThree months ended(C$ in millions)March 31, 2025 March 31, 2024Net income23.8 18.8Income tax expense7.6 5.5Net finance costs2.6 4.6Depreciation and amortization27.3 27.2Gain on settlement(1.4 )-Mark-to-market loss (gain) on financial derivative instruments0.4 (3.2 ) Adjusted EBITDA60.3 52.9 Total System Wide Sales Total system wide sales refer to the aggregation of revenue recognized in the Company's consolidated financial statements plus the franchise sales occurring at franchise stores to their customers which are not included in the revenue figure presented in the Company's consolidated financial statements. Total system wide sales is not a measure recognized by IFRS and does not have a standardized meaning prescribed by IFRS, but it is a key indicator used by the Company to measure performance against prior period results. Therefore, total system-wide sales as discussed in this MD&A may not be comparable to similar measures presented by other issuers. We believe that disclosing this measure is meaningful to investors because it serves as an indicator of the strength of the Company's overall store network, which ultimately impacts financial performance. Franchise Sales Franchise sales figures refer to sales occurring at franchise stores to their customers which are not included in the revenue figures presented in the Company's consolidated financial statements, or in the same store sales figures in this MD&A. Franchise sales is not a measure recognized by IFRS, and does not have a standardized meaning prescribed by IFRS, but it is a key indicator used by the Company to measure performance against prior period results. Therefore, franchise sales as discussed in this MD&A may not be comparable to similar measures presented by other issuers. Once again, we believe that disclosing this measure is meaningful to investors because it serves as an indicator of the strength of the Company's brands, which ultimately impacts financial performance. Supplementary Financial Measures The Company uses supplementary financial measures to disclose financial measures that are not (a) presented in the financial statements and (b) is, or is intended to be, disclosed periodically to depict the historical or expected future financial performance, financial position or cash flow, that is not a non-IFRS financial measure as detailed above. Same Store Sales Same store sales are defined as sales generated by stores, both in store and through online transactions, that have been open for more than 12 months on a fiscal basis. Same store sales as discussed in this MD&A may not be comparable to similar measures presented by other issuers, however this measure is commonly used in the retail industry. We believe that disclosing this measure is meaningful to investors because it enables them to better understand the level of growth of our business. About Leon's Furniture Limited Leon's Furniture Limited is the largest retailer of furniture, appliances and electronics in Canada. Our retail banners include: Leon's; The Brick; Brick Outlet; and The Brick Mattress Store. Finally, with The Brick's Midnorthern Appliance banner alongside with Leon's Appliance Canada banner, this makes the Company the country's largest commercial retailer of appliances to builders, developers, hotels and property management companies. The Company has 298 retail stores from coast to coast in Canada under various banners. The Company operates six websites: and Cautionary Statement This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Leon's Furniture Limited's periodic reports including the annual report or in the filings made by Leon's Furniture Limited from time to time with securities regulatory authorities. This News Release may include certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify beneficial business opportunities, failure to convert the potential in the pursued business opportunities to tangible benefits to the Company or its shareholders, the ability of the Company to counteract the potential impact of pandemics on factors relevant to the Company's business, delays in obtaining or failures to obtain required shareholder and TSX approvals, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For further information, please contact: Victor DiabChief Financial Officer Leon's Furniture LimitedTel: (416) Jonathan RossLodeRock Advisors, Leon's Investor Relations (416) 283-0178 To view the source version of this press release, please visit 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
The Age
24-04-2025
- Politics
- The Age
Brisbane's most central electorate faces historic three-pronged battle
Mike Walsh has election signs outside his home for the Greens MP and his Labor challenger. He's not the only one still making his mind up in the battle for Brisbane. 'The price of everything has gone up through the roof, and it's affected a lot of people who are doing it tough,' he says from his New Farm home. 'Houses are getting to a point where only the rich can afford them. Rent especially around this area is ridiculously expensive. 'There's a lot of people who have been affected over successive governments – not just Liberal, but Labor as well.' Incumbent Green Stephen Bates took the seat from the LNP's Trevor Evans in the progressive party's historic Brisbane sweep three years ago, shocking political pundits across the country and prompting leader Adam Bandt to declare a 'Greenslide'. Bates holds the electorate with a 3.7 per cent margin, but finished in third place at the last election before preferences were counted. A well-resourced campaign from Labor's Madonna Jarrett – who also ran at the last election – is setting up the race as a genuine three-way rematch, and one that could be key to either major party forming government.
