State-Administered Indigent Defense Systems, 2013

Suzanne M. Strong, Ph.D., Bureau of Justice Statistics

November 16, 2016    NCJ 250249

Describes the methods for providing representation in criminal defense and civil, juvenile, and appeals cases in 28 states and the District of Columbia. The report details various aspects of indigent defense delivery systems by jurisdiction, such as type of litigating attorneys, cases closed, caseload standards and guidelines, funding sources, fees for representation, how indigence is determined, role of advisory boards or commission, and standards for assigned or appointed counsel. Data are from the 2013 National Survey of Indigent Defense Systems, the first census of all methods of providing indigent defense services in the United States.

Highlights:

  • „„Of the 28 states and the District of Columbia that had state-administered indigent defense systems in 2013–
    Twenty-seven states and the District of Columbia had either governmental or nongovernmental public defenders providing representation for indigent clients.
    Eight states and the District of Columbia required indigent clients to pay both an application fee to receive representation and recoupment for legal services provided.
    In nine states the governor appointed the chief executives of the indigent defense delivery system.
    Six states reported fewer than 10 full-time equivalent investigators on staff for public defender offices.
  • „„Between 2007 and 2013, 16 of the 22 states with state-administered public defender offices increased the number of full-time equivalent litigating attorneys.
  • „„„In 2013, state-administered systems closed an estimated 2,672,760 criminal, appellate, civil, and juvenile cases.

Summary (PDF 244K)
PDF (958K)
ASCII file (31K)
Comma-delimited format (CSV) (Zip format 31K)

Help for using BJS products

About the Source Data
National Survey Of Indigent Defense Systems (NSIDS), 2013

To cite this product, use the following link:
http://www.bjs.gov/index.cfm?ty=pbdetail&iid=5826

View All Publications and Products

State-Administered Indigent Defense Systems, 2013

Suzanne M. Strong, Ph.D., Bureau of Justice Statistics

November 16, 2016    NCJ 250249

Describes the methods for providing representation in criminal defense and civil, juvenile, and appeals cases in 28 states and the District of Columbia. The report details various aspects of indigent defense delivery systems by jurisdiction, such as type of litigating attorneys, cases closed, caseload standards and guidelines, funding sources, fees for representation, how indigence is determined, role of advisory boards or commission, and standards for assigned or appointed counsel. Data are from the 2013 National Survey of Indigent Defense Systems, the first census of all methods of providing indigent defense services in the United States.

Highlights:

  • „„Of the 28 states and the District of Columbia that had state-administered indigent defense systems in 2013–
    Twenty-seven states and the District of Columbia had either governmental or nongovernmental public defenders providing representation for indigent clients.
    Eight states and the District of Columbia required indigent clients to pay both an application fee to receive representation and recoupment for legal services provided.
    In nine states the governor appointed the chief executives of the indigent defense delivery system.
    Six states reported fewer than 10 full-time equivalent investigators on staff for public defender offices.
  • „„Between 2007 and 2013, 16 of the 22 states with state-administered public defender offices increased the number of full-time equivalent litigating attorneys.
  • „„„In 2013, state-administered systems closed an estimated 2,672,760 criminal, appellate, civil, and juvenile cases.

Summary (PDF 244K)
PDF (958K)
ASCII file (31K)
Comma-delimited format (CSV) (Zip format 31K)

Help for using BJS products

About the Source Data
National Survey Of Indigent Defense Systems (NSIDS), 2013

To cite this product, use the following link:
http://www.bjs.gov/index.cfm?ty=pbdetail&iid=5826

View All Publications and Products

Lannett Voluntarily Pays Down Additional $25 Million Of Revolving Credit Facility

PHILADELPHIA, March 30, 2017 /PRNewswire/ — Lannett Company, Inc. (NYSE: LCI) today announced that the company voluntarily made a $25 million payment against its existing revolving credit facility.

“This $25 million payment, combined with the $75 million payment we made earlier this year in January, will save us approximately $5.5 million in annualized cash interest expense, at current rates” said Arthur Bedrosian, chief executive officer of Lannett.  “Our business is solid and we continue to generate strong cash flows, which has allowed us to further reduce our outstanding debt.”

About Lannett Company, Inc.:
Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of medical indications.  For more information, visit the company’s website at www.lannett.com.

This news release contains certain statements of a forward-looking nature relating to future events or future business performance.  Any such statements, including, but not limited to, continuing to reduce outstanding debt, whether expressed or implied, are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, the difficulty in predicting the timing or outcome of FDA or other regulatory approvals or actions, the ability to successfully commercialize products upon approval, including acquired products, and Lannett’s estimated or anticipated future financial results, future inventory levels, future competition or pricing, future levels of operating expenses, product development efforts or performance, and other risk factors discussed in the company’s Form 10-K and other documents filed with the Securities and Exchange Commission from time to time.  These forward-looking statements represent the company’s judgment as of the date of this news release.  The company disclaims any intent or obligation to update these forward-looking statements.

Contact:

Robert Jaffe

Robert Jaffe Co., LLC

(424) 288-4098

 

SOURCE Lannett Company, Inc.

IEC calls on disruptive technology for universal energy access

Announcing the LVDC Conference on Sustainable Electricity Access, 22-23 May 2017, in Nairobi

Geneva, Switzerland, 2017-03-30 –The IEC (International Electrotechnical Commission) is stepping up efforts to bring electrical energy to the 1,3 billion people who have no access to electricity, via a disruptive technology – low voltage direct current (LVDC). The IEC is hosting the inaugural LVDC Conference on Sustainable Electricity Access, in Nairobi, Kenya, on 22 and 23 May 2017, in partnership with the Kenya Bureau of Standards (KEBS).

LVDC Logo

LVDC Logo

“Combined with some form of energy storage, LVDC has the potential to bring millions of people out of the dark. The IEC is driving the development of LVDC, making this technology safe and broadly accessible. Holding this conference in Africa will provide a real understanding of electricity access needs to IEC experts and stakeholders. We invite participation of all those concerned with the Sustainable Developments Goals, especially Goal 7: Ensure access to affordable, reliable, sustainable and modern energy for all,” said Frans Vreeswijk, General Secretary & CEO of the IEC.

Energy, and especially electricity, is the golden thread that impacts the majority of the 17 Sustainable Development Goals (SDGs), and furthermore, the development of every nation and economy. The work of the IEC directly impacts 12 of the 17 SDGs – it provides the technical foundation for the whole energy chain and all equipment that is driven by electricity.

The UN recognizes that electricity access helps to reduce poverty and hunger, improves educational opportunities and enables higher quality healthcare. In developing economies, LVDC helps governments and policy makers to rapidly improve the living conditions, livelihoods and leisure time of millions of citizens as they gain access to affordable and clean electricity. Against this backdrop, the LVDC Conference on Sustainable Electricity Access will bring together a diverse group of stakeholders including policy makers, power utilities, equipment manufacturers, NGOs, technology gurus, industry experts, systems engineers, funding agencies and insurers.

“I urge all stakeholders to register and attend the conference which will be a thought leadership platform to effectively engage with policymakers and regulators. This event will help us to gain the technological and economic information needed to evolve LVDC standards and drive the technology’s commercialization,” said Charles Ongwae, Managing Director, Kenya Bureau of Standards.

The recent evolution of LVDC
LVDC is a disruptive technology that fundamentally changes and accelerates energy access. Over the last twenty years several mega-trends have created a groundswell of demand for LVDC. The need to mitigate the effects of climate change has seen a renewed focus on Energy Efficiency and sustainability, taking power generation increasingly towards renewable sources and away from fossil fuels. In addition, the cost of energy generation from solar photovoltaics (PV) has become more accessible, while LED lighting has made the conventional incandescent lamp a thing of the past.

Without realizing it, today we live in a “direct current” world, with most of our electronic devices already being able to use current that is produced by renewable sources directly, without conversion. As a result, LVDC is seeing a growth in uses like data centres, e-mobility and related infrastructure, urban homes and buildings for lighting and other applications, public distribution, DC micro-grids, and storage etc.

These trends challenge the traditional model of electricity distribution via alternating current (AC). Also, many of the technical issues that blocked the development of DC are no longer an obstacle. A diverse group of global experts in the IEC is currently preparing the technical foundation needed for the broad roll-out of LVDC.

Vimal Mahendru, Chair of the IEC Systems Committee (SyC) on LVDC, and IEC Ambassador said, “For areas where grid connection is too expensive, LVDC is the only economic way to provide electricity access to everyone: it is clean, safe and affordable. The applications for LVDC are wide, varied and apply in every country in the world. This conference is your opportunity to input your local needs and requirements; to hear about economic benefits linked to LVDC; and to contribute to the development of key performance and risk assessment indicators to allow regulators and systems administrators to benchmark LVDC solutions.”

About LVDC
In technical terms, direct current is constant and flows in one direction. In opposition, alternating current periodically reverses direction in a wave-like pattern. Currently, electricity is converted to AC to be converted back to DC for use by DC driven devices, sometimes multiple times. Using Renewable Energy as DC electricity is more efficient and generates less e-waste in the form of transformers and power adaptors.

Solar cells and other renewable power technologies produce DC power and batteries receive, store and deliver DC power. All electronics and battery driven devices use DC power, which today is often transformed from AC. Everything, from electric vehicles, renewable energy technology, kitchen appliances, lighting, transport, smart phones and tablets to systems with data and embedded electronics, such as the Internet of Things, smart homes and Smart Cities, runs on DC.

Standardization work for LVDC is perhaps one of the biggest societal impact initiatives undertaken by the IEC. It requires a concerted effort by all stakeholders. For further reading, please see the article in e-tech of June 2015 and also visit the SEG4 and Syc LVDC.

About the IEC
The IEC (International Electrotechnical Commission) is the world’s leading organization that prepares and publishes globally relevant International Standards for all electric and electronic devices and systems. It brings together 170 countries, representing 99.1% of the world population and 99.2% of world electricity generation. More than 20 000 experts cooperate on the global IEC platform and many more in each member country. They ensure that products work everywhere safely and efficiently with each other. The IEC also supports all forms of conformity assessment and administers four Conformity Assessment Systems that certify that components, equipment and systems used in homes, offices, healthcare facilities, public spaces, transportation, manufacturing, explosive environments and during energy generation conform to them.

IEC work covers a vast range of technologies: power generation (including all renewable energy sources), transmission, distribution, Smart Grid & Smart Cities, batteries, home appliances, office and medical equipment, all public and private transportation, semiconductors, fibre optics, nanotechnology, multimedia, information technology, and more. It also addresses safety, EMC, performance and the environment.
www.iec.ch

Kenya Bureau of Standards
Kenya Bureau of Standards (KEBS) is a statutory body established under the Standards Act (CAP 496) of the laws of Kenya. KEBS commenced its operations in July 1974. The KEBS Board of Directors is known as the National Standards Council (NSC). It is the policymaking body for supervising and controlling the administration and financial management of the Bureau. The Managing Director is the Chief Executive responsible for the day-to-day administration of the Bureau within the broad guidelines formulated by the NSC. Standards provide a common reference point for the assessment of the quality of goods and services. Standards ensure that products and services are safe, reliable and of good quality. For business, they are strategic tools that reduce costs by minimising waste and errors and increasing productivity. They help companies to access new markets, level the playing field for developing countries and facilitate free and fair global trade. For more information, please visit https://www.kebs.org

LVDC Conference on Sustainable Electricity Access
Hotel InterContinental Nairobi; 22 – 23 May 2017, Nairobi, Kenya
http://www.lvdcconference.com

Further Information
Gabriela Ehrlich
Tel: +41 22 919 02 78
Mob: +41 79 600 56 72
Email: geh@iec.ch
Skype: gabriela.ehrlich

JinkoSolar Files 2016 Annual Report on Form 20-F

SHANGHAI, March 30, 2017 /PRNewswire-FirstCall/ — JinkoSolar Holding Co., Ltd. (“JinkoSolar” or the “Company”) (NYSE:JKS), a global leader in the solar PV industry, today announced that the Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2016 with the Securities and Exchange Commission on March 29, 2017.

The Company’s annual report on Form 20-F contains its audited consolidated financial statements and is available on the Company’s website at http://ir.jinkosolar.com. The Company will provide a hard copy of its annual report free of charge to its shareholders and holders of American depositary shares representing its ordinary shares upon request.

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is a global leader in the solar industry. JinkoSolar distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, and other countries and regions. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 5.0GW for silicon ingots and wafers, 4.0GW for solar cells, and 6.5 GW for solar modules, as of December 31, 2016.

JinkoSolar has over 15,000 employees across its 6 productions facilities in Jiangxi, Zhejiang and Xinjiang Provinces, China, Malaysia, Portugal and South Africa, 15 oversea subsidiaries in Japan (2),  Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia and South Africa. 18 global sales offices in China (2) ,United Kingdom, Bulgaria, Greece, Romania, United Arab Emirates, Jordan, Saudi Arabia, Kuwait, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Brazil and Mexico.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends, “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from management in this press release and the Company’s operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

In China:

Mr. Sebastian Liu
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3056
Email: ir@jinkosolar.com

Mr. Christian Arnell
Christensen, Beijing
Tel: +86 10 5900 2940
Email: carnell@christensenir.com

In the U.S.:

Ms. Linda Bergkamp
Christensen, Scottsdale, Arizona
Tel: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com  

SOURCE JinkoSolar Holding Co., Ltd.

Lindsay Corporation Reports Fiscal 2017 Second Quarter Results

OMAHA, Neb.–(BUSINESS WIRE)–Lindsay Corporation (NYSE: LNN), a leading provider of irrigation systems and infrastructure products, today announced results for its second quarter ended February 28, 2017.

Second Quarter Results

Second quarter fiscal 2017 revenues were $124.1 million compared to revenues of $120.6 million in the prior year’s second quarter. Net earnings for the quarter were $5.0 million or $0.47 per diluted share compared with a net loss of $4.1 million or $0.37 per diluted share in the second quarter of the prior year. The prior year period included $13.0 million of environmental remediation expenses which, on an after-tax basis, reduced net earnings by $8.5 million, or $0.78 per diluted share.

Irrigation segment revenues for the second quarter increased three percent to $106.2 million from $103.1 million in the prior year’s second quarter. U.S. irrigation revenues of $61.5 million declined 15 percent, as harsh winter weather conditions in the Northwest resulted in lower irrigation equipment unit volume and lower revenue from other irrigation businesses. International irrigation revenues were $44.7 million, an increase of 46 percent compared to the second quarter of the prior year, driven primarily by improved demand and project activity in South America, Africa and the Commonwealth of Independent States region. Infrastructure segment revenues for the second quarter increased two percent to $17.9 million, as increased demand for road safety products and higher Road Zipper® system sales and lease revenue was offset in part by a decline in sales volume for rail products.

Gross margin for the second quarter of fiscal 2017 was 26.5 percent of sales compared to 26.9 percent of sales in the prior year’s second quarter. Improved margin in the infrastructure segment was more than offset by lower margin in the irrigation segment, as improved U.S. irrigation margin was offset by a higher mix of international revenue at comparatively lower margins. Improved infrastructure margin resulted from increased cost absorption in Road Zipper® system production and volume leverage from road safety product sales.

Operating expenses for the second quarter of fiscal 2017 were $24.4 million, a decrease of $12.7 million compared to the second quarter in the prior year. Excluding the impact of the environmental remediation expenses in the prior year’s second quarter, operating expenses were slightly higher in the current year primarily due to increased new product development and testing costs. Operating expenses were 19.7 percent of sales in the second quarter of fiscal 2017 compared with 30.8 percent of sales in the second quarter of the prior year. Operating margins were 6.9 percent in the second quarter of fiscal 2017, unchanged compared to the second quarter of the prior year after excluding the environmental expenses.

Cash and cash equivalents at the end of the second quarter were $102.8 million compared to $101.2 million at the end of the prior fiscal year and $89.5 million at the end of the prior year’s second quarter. There were no share repurchases made during the second quarter of fiscal 2017. A total of $63.7 million remains available under the Company’s share repurchase program as of February 28, 2017.

The backlog of unshipped orders at February 28, 2017 was $62.3 million compared with $52.6 million at February 29, 2016. Order backlogs were improved in both the irrigation and infrastructure in comparison to the prior year.

Six Month Results

Total revenues for the six months ended February 28, 2017 were $234.5 million, a decrease of three percent compared to $242.2 million in the same prior year period. Net earnings were $5.9 million or $0.55 per diluted share compared with $2.8 million or $0.25 per diluted share in the prior year.

Irrigation segment revenues decreased four percent to $196.1 million for the six months ended February 28, 2017 from $204.4 million in the same prior year period, as U.S. irrigation revenues of $111.8 million decreased 15 percent and international irrigation revenues of $84.3 million increased 16 percent. Infrastructure segment revenues increased two percent to $38.4 million for the six months ended February 28, 2017, as increased demand for road safety products was offset in part by a decline in sales volume for rail products.

Outlook

Rick Parod, President and Chief Executive Officer, commented, “In the irrigation segment, orders and project levels improved in the second quarter after experiencing a slow start to the year in the first quarter. Strong sales growth in international irrigation reflects improving demand and increased project activity. I am pleased with the U.S. irrigation gross margin improvement achieved, especially in view of raw material inflation experienced in the quarter. In the infrastructure segment, second quarter revenues were modestly improved over the prior year in a seasonally lower period, and we continue to see improved operating performance in the segment.”

Parod continued, “We are currently in the midst of the primary selling season for irrigation equipment in North America where overall market conditions, affected by lower commodity prices and reduced farm incomes, are resulting in seasonal demand similar to the prior year. I am encouraged by the improving activity levels we are seeing in the international irrigation and infrastructure markets. The longer-term drivers for our markets of population growth, expanded food production and efficient water use, and infrastructure upgrades and expansion support our expectations for growth.”

Second-Quarter Conference Call

Lindsay’s fiscal 2017 second quarter investor conference call is scheduled for 11:00 a.m. Eastern Time today. Interested investors may participate in the call by dialing (888) 321-8161 in the U.S., or (706) 758-0065 internationally, and referring to conference ID # 90564253. Additionally, the conference call will be simulcast live on the Internet, and can be accessed via the investor relations section of the Company’s Web site, www.lindsay.com. Replays of the conference call will remain on our Web site through the next quarterly earnings release. The Company will have a slide presentation available to augment management’s formal presentation, which will also be accessible via the Company’s Web site.

About the Company

Lindsay manufactures and markets irrigation equipment primarily used in agricultural markets which increase or stabilize crop production while conserving water, energy, and labor. The Company also manufactures and markets infrastructure and road safety products under the Lindsay Transportation Solutions trade name. At February 28, 2017, Lindsay had approximately 10.7 million shares outstanding, which are traded on the New York Stock Exchange under the symbol LNN.

For more information regarding Lindsay Corporation, see the Company’s Web site at www.lindsay.com.

Concerning Forward-looking Statements

This release contains forward-looking statements that are subject to risks and uncertainties and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and planned financing of the Company and those statements preceded by, followed by or including the words “anticipate,” “estimate,” “believe,” “intend,” „expect,” „outlook,” „could,” „may,” „should,” “will,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.

               
 
Lindsay Corporation and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)
 
Three months ended Six months ended
(in thousands, except per share amounts)

February 28,
2017

February 29,
2016

February 28,
2017

February 29,
2016

 
Operating revenues $ 124,125 $ 120,573 $ 234,515 $ 242,195
Cost of operating revenues   91,184     88,128     173,200     175,336  
Gross profit   32,941     32,445     61,315     66,859  
 
Operating expenses:
Selling expense 10,132 10,363 20,114 20,355
General and administrative expense 10,230 23,028 21,585 32,043
Engineering and research expense   4,057     3,748     8,359     7,407  
Total operating expenses   24,419     37,139     50,058     59,805  
 
Operating income (loss) 8,522 (4,694 ) 11,257 7,054
 
Interest expense (1,201 ) (1,201 ) (2,410 ) (2,397 )
Interest income 171 229 336 393

Other income (expense), net

  144     (527 )   (212 )   (847 )
 
Earnings (loss) before income taxes 7,636 (6,193 ) 8,971 4,203
 
Income tax expense (benefit)   2,624     (2,064 )   3,086     1,388  
 
Net earnings (loss) $ 5,012   $ (4,129 ) $ 5,885   $ 2,815  
 
Earnings (loss) per share:
Basic $ 0.47 $ (0.37 ) $ 0.55 $ 0.25
Diluted $ 0.47 $ (0.37 ) $ 0.55 $ 0.25
 
Shares used in computing earnings (loss) per share:
Basic 10,657 11,024 10,647 11,142
Diluted 10,674 11,024 10,670 11,163
 
Cash dividends declared per share $

0.29

$

0.28

$

0.58

$

0.56

           
 
Lindsay Corporation and Subsidiaries
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
 
February 28, February 29, August 31,
(in thousands) 2017 2016 2016
 
ASSETS
Current assets:
Cash and cash equivalents $ 102,825 $ 89,522 $ 101,246
Restricted cash 2,028 2,030
Receivables, net 78,828 79,225 80,610
Inventories, net 82,847 82,078 74,750
Prepaid expenses 5,208 4,418 3,671
Other current assets   15,968     12,802     14,468  
Total current assets   285,676     270,073     276,775  
 
Property, plant and equipment, net 75,632 78,916 77,627
Intangibles, net 44,890 49,475 47,200
Goodwill 76,577 76,628 76,803
Deferred income tax assets 3,094 3,108 4,225
Other noncurrent assets, net   4,747     5,070     4,885  
Total assets $ 490,616   $ 483,270   $ 487,515  
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 44,254 $ 36,371 $ 32,268
Current portion of long-term debt 199 195 197
Other current liabilities   46,350     47,971     55,395  
Total current liabilities   90,803     84,537     87,860  
 
Pension benefits liabilities 6,708 6,431 6,869
Long-term debt 116,876 117,075 116,976
Deferred income tax liabilities 1,678 1,020 1,223
Other noncurrent liabilities   20,995     22,588     23,020  
Total liabilities   237,060     231,651     235,948  
 
Shareholders’ equity:
Preferred stock
Common stock 18,746 18,713 18,713
Capital in excess of stated value 59,002 55,908 57,338
Retained earnings 466,630 455,535 466,926
Less treasury stock – at cost (277,238 ) (261,118 ) (277,238 )
Accumulated other comprehensive loss, net   (13,584 )   (17,419 )   (14,172 )
Total shareholders’ equity   253,556     251,619     251,567  
Total liabilities and shareholders’ equity $ 490,616   $ 483,270   $ 487,515  
       
 
Lindsay Corporation and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)
 
(in thousands) Six months ended

February 28,
2017

February 29,
2016

CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings $ 5,885 $ 2,815

Adjustments to reconcile net earnings to net cash provided by operating activities:

Depreciation and amortization 8,120 8,536
Provision for uncollectible accounts receivable (609 ) (1,103 )
Deferred income taxes 1,707 (4,163 )
Share-based compensation expense 1,815 1,534
Other, net (594 ) 1,828
Changes in assets and liabilities:
Receivables 2,710 (5,220 )
Inventories (7,368 ) (8,094 )
Other current assets 3,375 (1,779 )
Accounts payable 11,926 (2,247 )
Other current liabilities (8,135 ) (5,273 )
Current taxes payable (5,987 ) (3,641 )
Other noncurrent assets and liabilities   (2,123 )   11,833  
Net cash provided by (used in) operating activities   10,722     (4,974 )
 
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment (4,194 ) (7,392 )
Proceeds from settlement of net investment hedges 2,054 2,317
Payments for settlement of net investment hedges (482 ) (512 )
Other investing activities, net   136     1,073  
Net cash used in investing activities   (2,486 )   (4,514 )
 
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options 647 113
Common stock withheld for payroll tax withholdings (635 ) (712 )
Principal payments on long-term debt (98 ) (96 )
Repurchase of common shares (32,215 )
Dividends paid   (6,181 )   (6,183 )
Net cash used in financing activities   (6,267 )   (39,093 )
 
Effect of exchange rate changes on cash and cash equivalents   (390 )   (990 )
Net change in cash and cash equivalents 1,579 (49,571 )
Cash and cash equivalents, beginning of period   101,246     139,093  
Cash and cash equivalents, end of period $ 102,825   $ 89,522  

HYCM scelle sa présence en Europe avec la réglementation CySEC

LONDRES–(BUSINESS WIRE)–HYCM, un chef de file mondial de la négociation en ligne sur les marchés de capitaux, réglementé par la FCA, a confirmé que son entité basée à Chypre, HYCM Europe, était autorisée et réglementée par la Commission des opérations de Bourse de Chypre (CySEC). Le statut est dorénavant reflété sur le site Internet de la société.

CySEC est le régulateur financier de Chypre qui fournit un cadre dans lequel les sociétés de services financiers du pays sont obligées d’opérer. En tant que courtier réglementé par la CySEC, HYCM doit adhérer aux normes financières les plus strictes, notamment les exigences en matière d’adéquation des fonds propres, la séparation des fonds des clients et la transparence des opérations commerciales.

HYCM, un courtier international avec une présence forte sur les principaux marchés d’Asie, du Moyen-Orient et du Royaume-Uni, est maintenant prêt pour renforcer sa présence dans l’Union européenne, permettant aux courtiers de bénéficier de tarifs compétitifs, d’une vitesse d’exécution élevée, de hauts niveaux de sécurité financière et de son support client renommé.

S’exprimant au sujet de la licence CySEC, Stavros Lambouris, PDG de HYCM Europe, a déclaré : « L’autorisation CySEC marque un jalon dans notre histoire dans le cadre de nos plans visant à étendre nos opérations internationales. Nous disposons dorénavant d’une passerelle vers le marché européen, affirmant notre engagement vis-à-vis de nos clients européens tout en validant la position de chef de file mondial de la société. »

HYCM fait partie du Groupe Henyep Capital Markets, un conglomérat international ayant récemment changé l’image de ses opérations aux Émirats arabes unis (ÉAU) au sein du Centre financier international de Dubaï (DIFC) en vue d’unifier ses bureaux à travers le monde et de refléter la vaste gamme de produits pour les marchés de capitaux proposés à ses clients particuliers. Henyep Investment Bank Limited, réglementée par la DFSA, est devenue Henyep Capital Markets (DIFC) Ltd dans le cadre de ses plans de croissance dans la région, en particulier aux ÉAU.

Cette dernière initiative signifie que les clients européens peuvent dorénavant découvrir l’offre de produits complète de HYCM, incluant le Forex, les matières premières et les actions ; elle positionne également le Groupe, âgé de 40 ans, sur une trajectoire de croissance renouvelée alors qu’il cherche à étendre son empreinte mondiale.

HYCM a par ailleurs annoncé l’introduction d’un nouveau logo pour refléter ces développements, qui remplacera le logo actuel et apparaîtra sur le site Internet du Groupe ainsi que dans l’ensemble de son matériel publicitaire et promotionnel à compter du mois d’avril 2017.

HYCM

Notes à l’attention des rédacteurs :

HYCM est un prestataire de premier plan de services de courtage Forex et de CFD en ligne pour les investisseurs particuliers et institutionnels. Fort d’un historique opérationnel de 40 ans et affichant un intérêt marqué pour la satisfaction des clients et le progrès technologique, HYCM est devenu le courtier en ligne de choix pour les investisseurs à travers le monde, donnant accès à tout un éventail de classes d’actifs, dont les devises, les matières premières, les métaux, les actions et les indices.

HYCM propose à ses clients une solution de négociation complète ainsi que tous les outils de courtage et analyses nécessaires pour prendre des décisions de négociation éclairées. Grâce à ses plateformes de négociation de pointe, incluant la solution MetaTrader 4 leader du secteur et une application mobile permettant aux clients d’effectuer des transactions pendant leurs déplacements, HYCM jouit d’une excellente réputation dans le secteur car elle offre une expérience de la négociation sans égal.

HYCM fait partie du Groupe Henyep Capital Markets, un conglomérat international avec des activités dans les services financiers, l’immobilier, l’éducation et la bienfaisance et réglementé par la FSA (autorité des services financiers) au Royaume-Uni (référence FCA numéro 186171) et la Commission des opérations de Bourse de Chypre (licence CySEC numéro 259/14).

La société est représentée dans le monde entier par l’entremise de ses bureaux au Royaume-Uni, à Hong Kong, à Chypre et à Dubaï.

Le texte du communiqué issu d’une traduction ne doit d’aucune manière être considéré comme officiel. La seule version du communiqué qui fasse foi est celle du communiqué dans sa langue d’origine. La traduction devra toujours être confrontée au texte source, qui fera jurisprudence.

Richmont Mines Provides Exploration and Delineation Drilling Update for the Island Gold Mine; New High Grade Mineralization Identified: 20.6 g/t of gold over 11.3 metres (core length) in the Eastern Lateral Extension

TORONTO, March 30, 2017 /PRNewswire/ – Richmont Mines Inc. (TSX: RIC) (NYSE: RIC) („Richmont” or the „Corporation”), is pleased to provide an update from its strategic exploration and delineation drilling program currently underway at the cornerstone Island Gold Mine. Recent exploration drilling has identified new high-grade mineralization located approximately 800 metres east of the main Island Gold deposit with hole GD-640-05 intersecting 20.6 g/t gold over 11.3 metres (core length). All results are reported with estimated true width, unless otherwise indicated, and high-grade assays are capped at 225 g/t gold for the Lower C zone and 70 g/t for the E1E zone, the main mineralized zone east of the second dyke.

„Results from the strategic drilling program at the Island Gold Mine continue to demonstrate the significant near-term potential of this high quality deposit. In the eastern lateral extension, drilling has identified a new mineralized zone in the down plunge extension of a high-grade trend that was identified in 2016. This new area is located only 500 metres east and below the new resource blocks, which indicates that the structure could continue at depth.” stated Renaud Adams, CEO. He continued, „The early results from our delineation drilling in the Expansion Case PEA area indicate the significant potential to further expand our reserves at higher than current average grades. In 2017 we will continue to advance our systematic drilling program with an overall focus on positively impacting our near-term mine life and identifying the next million ounces of resources outside the Expansion Case PEA area.”

2017 DRILLING PROGRAM – ISLAND GOLD MINE (Figure 1)

The 2016 delineation drilling program contributed to a 34% increase in reserves at an 11% higher grade, while the exploration program delivered more than 450,000 ounces of new inferred resources at a cost of less than $35 per ounce discovered. As of December 31, 2016, the Island Gold Mine increased its reserve base to 752,200 ounces of gold at a higher grade of 9.17 g/t, while inferred resources increased to 995,700 ounces of gold at a higher grade of 10.18 g/t.

The 2017 drilling program currently underway continues to build on positive results achieved in 2016 and is focused on three key priorities: 1) to expand near-mine resources outside the Expansion Case PEA area, both laterally and at depth; 2) to further expand the reserve base, primarily within the Expansion Case PEA area; and 3) continuing to test high priority regional gold targets across the prospective Island Gold Mine property.

Eastern Lateral Exploration and Infill Drilling Program (Figure 2)

The 2016 drilling program successfully added two new inferred resource blocks in the eastern lateral extension, approximately 300 metres east of the Expansion Case PEA area, between the 340 and the 750 metre levels. The largest inferred resource block contains approximately 290,000 tonnes at a grade of 10.35 g/t of gold (approximately 95,000 ounces of gold). These two new blocks are relatively shallow and easily accessible from the existing mine infrastructure. As a result, the 2017 exploration program is following up on the eastern lateral extension area, particularly on a high-grade intersection (Hole GD-630-01) of 25.27 g/t gold over 3.85 metres located approximately 500 metres east of the new resource blocks that was identified in 2016, and continues to target the extension and infill of the new resource blocks.

Recent drilling in the eastern lateral extension has been focused in the down plunge extension of Hole GD-630-01. Highlights include:

One directional drill rig has been redeployed to this area to follow-up on the exploration success in this area. The initial 2017 directional drill hole (GD-640-05-1) was completed between holes GD-640-04 and GD-640-05 noted above, and intersected two high-grade intervals at the same elevation, but located 40 to 50 metres north of GD-640-05. The first interval intersected 16.1 g/t gold (28.13 g/t uncut) over a core length of 8.33 metres and the second intersected 10.16 g/t gold (17.32 g/t uncut) over a core length of 5.74 metres. Additional drilling will be required to better understand the geometry and true width of this new area of high-grade mineralization. This new discovery represents significant upside to the potential extension of the eastern lateral corridor. A second directional drill rig will be added to accelerate drilling in this area.

Exploration and infill drilling has continued from the 340 metre level exploration drift that targets a potential extension and infill of the current resource blocks that were identified in 2016. One drill rig is working in the area and another drill rig will be added on the 620 metre level once the 300 metre extension of the exploration drift is completed in the second half of the year.

Recent highlights from Eastern Lateral exploration and infill drilling from the 340 metre level exploration drift (subsequent to the October 12, 2016 exploration press release), include (Table 2):

A total of 8,232 metres (33 holes) of exploration and infill drilling of the planned 37,000 metres have been completed to date in the eastern lateral area.

Deep Directional Exploration Drilling Program Highlights: (Figure 3)

The successful 2016 deep drilling program identified a new large inferred resource block of 760,000 tonnes at a grade of 9.53 g/t gold (approximately 230,000 ounces) in the eastern down plunge extension, located between the 1,050 and the 1,300 metre levels.

The deep directional exploration drilling program continues in 2017 and targets the expansion of the new resource block. A total of 16,000 metres of deep directional drilling and 20,000 metres of underground drilling are planned in 2017. The underground drilling will be primarily completed from the 860 metre level exploration drift (400 metre length) that is scheduled to be completed in 2017.

Results to date continue to be encouraging with Hole MH1-10 intersecting 24.5 g/t gold over 3.76 metres. In the eastern portion of this area, Hole MH8 intersected 4.6 g/t gold over 2.24 metres, demonstrating that the mineralization remains open to the east.

In the western area, mineralized zones were intersected and additional drilling is required to better understand the structural geology at depth, however these new zones increase the overall potential of the down plunge extension and provide new high quality targets for follow up drilling.

A total of 5,052 metres (10 holes) have been drilled to date and three surface directional drill rigs are presently working in this area.

Other highlights from the deep directional exploration and infill drilling include (Table 3):

EXPANSION CASE PEA DELINEATION DRILLING PROGRAM (Figure 4)

For 2017, a total of 30,000 metres of delineation drilling is planned within the Expansion Case PEA area, primarily in the fourth mining horizon located between the 860 and 1,000 metre levels. Currently, two drill rigs are working in the area and a total of 6,866 metres (40 holes) have been completed to date.

Drilling continues to demonstrate the potential for additional reserve growth, including ounces and grade, primarily through the conversion of the high-grade inferred resources located in the fourth horizon. Results to date also demonstrate the potential to identify additional resources as high-grade mineralization continues to be intersected between the inferred resource blocks.

Recent drilling highlights from delineation and infill drilling completed within the Expansion Case PEA area, which have not been included in the December 2016 Resource and Reserve update include (Table 1):

Phase 2 Regional Drilling Program

The Phase 2 regional drilling program is designed to continue to evaluate the potential extension of the mineralization below the Kremzar mine as well as other previously identified high-priority gold targets located elsewhere on the highly prospective 77 km2 Island Gold property. The Phase 2 regional drilling program is expected to begin later in 2017.

Qualified Persons

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Daniel Adam P. Geo., Ph.D., Richmont’s Vice-President, Exploration, a Qualified Person as defined by NI 43-101.

Quality Control

Assays for the exploration drilling were done at LabExpert in Rouyn-Noranda. Mineralized zones samples will be resent for verification to an accredited laboratory. The Corporation inserts at regular intervals quality control (QC) samples (blanks and reference materials) to monitor laboratory performance.

About Richmont Mines Inc.

Richmont Mines currently produces gold from the Island Gold Mine in Ontario, and the Beaufor Mine in Quebec. The Corporation is also advancing development of the significant high-grade resource extension at depth of the Island Gold Mine in Ontario. With 35 years of experience in gold production, exploration and development, and prudent financial management, the Corporation is well-positioned to cost-effectively build its Canadian reserve base and to successfully enter its next phase of growth.

Forward-Looking Statements
This news release contains forward-looking statements that include risks and uncertainties. When used in this news release, the words „estimate”, „project”, „anticipate”, „expect”, „intend”, „believe”, „hope”, „may”, „objective” and similar expressions, as well as „will”, „shall” and other indications of future tense, are intended to identify forward-looking statements. The forward-looking statements are based on current expectations and apply only as of the date on which they were made. Except as may be required by law or regulation, the Corporation undertakes no obligation and disclaims any responsibility to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise.

The factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, without limitation, changes in the prevailing price of gold, the Canadian-United States exchange rate, grade of ore mined and unforeseen difficulties in mining operations that could affect revenue and production costs. Other factors such as uncertainties regarding government regulations and the failure of our exploration drilling programs to identify significant new resources or targets or expand existing resources could also affect the results. Other risks are set out in Richmont’s Annual Information Form, Annual Reports and periodic reports. The forward-looking information contained herein is made as of the date of this news release.

Cautionary note to US investors concerning resource estimates
Information in this press release is intended to comply with the requirements of the Toronto Stock Exchange and applicable Canadian securities legislation, which differ in certain respects with the rules and regulations promulgated under the United States Securities Exchange Act of 1934, as amended („Exchange Act”), as promulgated by the SEC. The requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects („NI 43-101) adopted by the Canadian Securities Administrators differ significantly from the requirements of the United States Securities and Exchange Commission (the „SEC”).

U.S. Investors are urged to consider the disclosure in our annual report on Form 20-F, File No. 001-14598, as filed with the SEC under the Exchange Act, which may be obtained from us (without cost) or from the SEC’s web site: http://sec.gov/edgar.shtml.

Tables of Drill Results

SOURCE Richmont Mines

ReneSola Connects 10MW of Ground-mount Solar Projects to UK Grid

SHANGHAI, March 30, 2017 /PRNewswire/ — ReneSola Ltd („ReneSola” or the „Company”) (www.renesola.com) (NYSE: SOL), a leading fully-integrated solar project developer and provider of energy-efficient products, today announced the completion and grid connection of two ground-mount projects in the United Kingdom. These projects have a combined capacity of approximately 10 MW. ReneSola managed the design and construction of these projects, and will provide ongoing operation and maintenance services until final acceptance.

These two projects are located in North Yorkshire and Shropshire.  Both projects are qualified under the 1.2 Renewable Obligations Certificate (ROC) program.

Xianshou Li, ReneSola’s Chief Executive Officer, said, „The United Kingdom remains one of our key developed markets for our downstream project business, and we are proud of the continued execution of our downstream strategy in the region. The successful grid connection of these projects solidified our competitive positon in developing downstream projects, and we look forward to driving incremental project development globally.”

About ReneSola

Founded in 2005, and listed on the New York Stock Exchange in 2008, ReneSola (NYSE: SOL) is an international leading brand and technology provider of energy efficient products. Leveraging its global presence and expansive distribution and sales network, ReneSola is well positioned to provide its highest quality green energy products and on-time services for EPC, installers, and green energy projects around the world. For more information, please visit www.renesola.com.

Safe Harbor Statement

This press release contains statements that constitute „forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Whenever you read a statement that is not simply a statement of historical fact (such as when the Company describes what it „believes,” „plans,” „expects” or „anticipates” will occur, what „will” or „could” happen, and other similar statements), you must remember that the Company’s expectations may not be correct, even though it believes that they are reasonable. The Company does not guarantee that the forward-looking statements will happen as described or that they will happen at all. Further information regarding risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements is included in the Company’s filings with the U.S. Securities and Exchange Commission, including the Company’s annual report on Form 20-F. The Company undertakes no obligation, beyond that required by law, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though the Company’s situation may change in the future.

For investor and media inquiries, please contact:

In China:

ReneSola Ltd
Ms. Rebecca Shen
+86 (21) 6280-9180 x106
ir@renesola.com

The Blueshirt Group Asia
Mr. Gary Dvorchak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.com

In the United States:

The Blueshirt Group
Mr. Ralph Fong
+1 (415) 489-2195
ralph@blueshirtgroup.com

SOURCE ReneSola Ltd.

Agenus Restructures Business to Sharpen Focus on Clinical Development of Cancer Therapies

– Will Host Conference Call at 9am ET Today –

LEXINGTON, Mass., March 30, 2017 /PRNewswire/ — Agenus Inc. (NASDAQ: AGEN), an immuno-oncology company with a clinical stage pipeline of immune checkpoint antibodies and cancer vaccines, today announced that it is reorganizing its business and operations to sharpen its focus on clinical development of its two checkpoint inhibitor antibodies and vaccine program. Agenus plans to close its Basel site and consolidate key functions to its Cambridge, UK and Lexington, MA facilities, and phase out approximately 50 positions across the organization. Additionally, Robert Stein, M.D., Ph.D., President of R&D, will retire to become a senior R&D advisor exclusive to Agenus.

Agenus’ goals for this realignment are to:

  • Accelerate development and commercialization of its product portfolio to drive shareholder value
  • Further extend the Company’s cash runway beyond the impact from the recently amended Incyte partnership, which strengthened the balance sheet by $80 million and reduced development expenses
  • Consolidate operations to improve R&D efficiencies  
  • Ensure commercial readiness and manufacturing

Prioritized programs include combination therapies targeting CTLA-4 and PD-1. In addition, Agenus will continue to drive its innovative immuno-oncology portfolio towards clinical development with two preclinical antibodies targeting 4-1BB and TIGIT, as well as AutoSynVax, a clinical-stage neoantigen cancer vaccine. The Company is exploring combination studies with AutoSynVax and Agenus’ checkpoint antibodies. Substantial focus will also be placed on the Company’s manufacturing operations in Berkeley, CA to ensure GMP readiness. This is particularly pertinent as Agenus progresses its clinical registration trials with an intent to commercialize within the next four years.

As part of the restructuring, approximately 50 positions are planned to be phased out within the next six months. In addition, the Company will transition or consolidate certain key management positions, with the objective of streamlining leadership and reducing costs.

“These changes to our organizational structure make us a leaner and more focused organization, which is critically important for our next phase of advancement towards commercial readiness. We will also maintain a focused R&D effort to rapidly generate and develop best of breed novel immuno-oncology candidates. It is important to indicate that as an agile and efficient company we aim to rapidly deliver effective treatments at affordable prices,” commented Dr. Armen.

Having built an extraordinary R&D capability for Agenus and spearheaded the advancement of five programs from discovery to clinical stage in the last three years, Dr. Robert Stein will be retiring from his current role as President of R&D and will become a senior R&D advisor to Agenus. The current R&D leadership, which has been assembled under his tutelage, will continue to have access to Dr. Stein for strategic R&D guidance.

“We are grateful to Dr. Stein for his outstanding leadership and contributions in defining and building our research engine,” said Dr. Armen. “I look forward to continuing to work with him very closely in the future. I would also like to acknowledge the contributions of our other colleagues who will be departing the Agenus organization.”

Conference Call and Webcast

Agenus executives, including Dr. Armen and Jennifer Buell, Ph.D., will host a conference call today at 9:00 a.m. Eastern Time. To access the live call, dial 1-844-492-3727 (U.S.) or 1-412-317-5118 (international) and ask to be joined into the Agenus call. The call will also be webcast and will be accessible from the Company’s website at www.agenusbio.com/webcast. A replay will be available on the Company’s website approximately two hours after the call and will remain available for 30 days.

About Agenus

Agenus is a clinical-stage immuno-oncology company focused on the discovery and development of therapies that engage the body’s immune system to fight cancer. The Company’s vision is to expand the patient populations benefiting from cancer immunotherapy by pursuing a number of combination approaches that leverage a broad repertoire of antibody therapeutics and proprietary cancer vaccine platforms. The Company is equipped with a suite of antibody discovery platforms and a state-of-the-art GMP manufacturing facility with the capacity to support early phase clinical programs. Agenus is based in Lexington, MA. For more information, please visit www.agenusbio.com; information that may be important to investors will be routinely posted on our website.

Forward Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding the Company’s restructuring and clinical development plans. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the factors described under the Risk Factors section of our most recent Quarterly Report on Form 10-Q or Annual Report on Form 10-K filed with the Securities and Exchange Commission. Agenus cautions investors not to place considerable reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this press release, and Agenus undertakes no obligation to update or revise the statements, other than to the extent required by law. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

Contact:

Agenus Inc.
Michelle Linn, 781-674-4541
michelle.linn@agenusbio.com

SOURCE Agenus Inc.