The use of language in such cases is of utmost importance, as it shapes public perception and understanding of the situation. By choosing to use a term like "sheltered," the police inadvertently sent the message that the disappearance of the graduate student was not a matter of great concern or urgency. This can have serious consequences, both in terms of public perception and the handling of the case itself.Financial Highlights: PITTSBURGH, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Matthews International Corporation (NASDAQ GSM: MATW) today announced financial results for the quarter and fiscal year ended September 30, 2024. In discussing the Company’s results, Joseph C. Bartolacci, President and Chief Executive Officer, stated: “Our consolidated operating results for the fiscal 2024 fourth quarter reflected another quarter of solid performance by our core businesses and, consistent with prior quarters, was impacted by continuing customer delays in our energy business. Our previously announced cost reduction program is now underway, as evidenced by the charges reflected in our GAAP results this quarter, and progressing well. Overall, we were pleased with the consolidated operating results as we again demonstrated the resilience of Matthews and our employees in mitigating the challenges faced by one of our segments. For the year ended September 30, 2024, consolidated adjusted EBITDA was $205.2 million. “The Memorialization segment reported higher adjusted EBITDA for the current quarter despite lower unit volumes, which were related to a decline in U.S. deaths compared to a year ago. Ongoing cost control efforts combined with improved price realization were the key drivers in the improvement in operating margins. This segment has done a tremendous job of maintaining its level of performance over the past several years despite the declines in unit volume following the pandemic. “We are also pleased to report that our SGK Brand Solutions segment reported another consecutive quarter of year-over-year sales growth. This segment has stabilized nicely over the last two years with modest improvements in margins and is continuing its recovery following the global impacts of the pandemic and the European impact of the Russia-Ukraine war. Sales for the segment increased compared to a year ago primarily reflecting improved pricing to mitigate inflationary cost increases, higher sales for the merchandising and private label businesses, and growth in the Asia-Pacific market. “Sales for the Industrial Technologies segment for the fiscal 2024 fourth quarter declined from a year ago primarily resulting from further customer delays in our energy business. The current quarter also reflected a continued soft warehouse automation market; however, order rates have been improving recently which could bode well for a good recovery next fiscal year. “With respect to our cost reduction program, current quarter charges include non-cash goodwill impairment and other asset write-downs primarily in connection with our European operations, in addition to severance and other costs. The program is also targeting general and administrative cost reductions. For our fiscal 2024 fourth quarter, we reported another quarter of lower corporate and non-operating costs compared to a year ago. For the year, corporate and non-operating costs were approximately 5% lower than last year. “During the fiscal 2024 fourth quarter, we reduced our outstanding debt by $53.8 million. In addition, we completed the refinancing of outstanding senior notes due December 1, 2025. Due to current interest rates and the ongoing strategic review of our business portfolio, we opted for a shorter-term bond (three-year maturity) with an ability to call in one year. We are projecting higher operating cash flow next year as our working capital investments in fiscal 2024 begin to convert to operating cash flow, which will be partially mitigated by costs in connection with our cost reduction program. “Looking forward to fiscal 2025, we continue to face the uncertainty of project timing in our Industrial Technologies segment, specifically relating to our energy business. While we currently expect deliveries to be substantially completed during the year, quarterly timing is still difficult to forecast. Our cost reduction programs should mitigate some of this impact. “We expect another solid performance for our Memorialization business in fiscal 2025 as U.S. deaths appear to have generally normalized following COVID and we are projecting continued growth in our cremation-related products sales. Continued growth is also projected for our SGK Brand Solutions segment reflecting ongoing improvement in U.S. market conditions, more stable conditions in Europe, and further growth in the Asia-Pacific region. In the Industrial Technologies segment, our product identification business is projecting growth next year and we should start to realize benefits from the launch of a new printhead product, which is currently scheduled for the latter half of the fiscal year. Also, as noted earlier, recent improving order rates for warehouse automation solutions should support recovery in this business. With these considerations in mind, we remain cautious and are projecting adjusted EBITDA in the range of $205 million to $215 million for fiscal 2025. “Lastly, as growth opportunities for the Industrial Technologies segment continue to emerge, the Company has been exploring strategies with respect to its portfolio of businesses. Accordingly, we have retained J.P. Morgan to support the evaluation of potential strategic alternatives.” Fourth Quarter Fiscal 2024 Consolidated Results (Unaudited) Consolidated sales for the fiscal 2024 fourth quarter were $446.7 million, compared to $480.2 million for the fiscal 2023 fourth quarter, representing a decrease of $33.5 million. Net loss attributable to the Company for the quarter ended September 30, 2024 was $68.2 million, or $2.21 per share, compared to net income of $17.7 million, or $0.56 per share, for the same quarter last year. On a non-GAAP adjusted basis, earnings for the fiscal 2024 fourth quarter were $0.55 per share, compared to $0.96 per share a year ago. The net loss on a GAAP basis in the current fiscal quarter primarily reflected asset write-downs, including a goodwill impairment charge, and charges in connection with cost reduction programs. Adjusted EBITDA (net income before interest expense, income taxes, depreciation and amortization, and other adjustments) for the fiscal 2024 fourth quarter was $58.1 million, compared to $61.9 million a year ago, primarily reflecting lower adjusted EBITDA in the Industrial Technologies segment. Fiscal 2024 Consolidated Results (Unaudited) Consolidated sales for the year ended September 30, 2024 were $1.80 billion, compared to $1.88 billion a year ago, representing a decrease of $85.2 million, or 4.5%, from the prior year. Net loss attributable to the Company for the year ended September 30, 2024 was $59.7 million ($1.93 per share), compared to net income of $39.3 million ($1.26 per share) for fiscal 2023. On a non-GAAP adjusted basis, earnings for the year ended September 30, 2024 were $2.17 per share, compared to $2.88 per share last year. The net loss on a GAAP basis for the current fiscal year primarily resulted from asset write-downs, including a goodwill impairment charge, and charges in connection with cost reduction programs. Adjusted EBITDA for the year ended September 30, 2024, was $205.2 million, compared to $225.8 million a year ago. The decrease reflected lower adjusted EBITDA for the Industrial Technologies and Memorialization segments, offset partially by higher adjusted EBITDA for SGK Brand Solutions and lower corporate and other non-operating costs. Webcast The Company will host a conference call and webcast on Friday, November 22, 2024, at 9:00 a.m. Eastern Time to review its financial and operating results and discuss its corporate strategies and outlook. A question-and-answer session will follow. The conference call can be accessed by dialing (201) 689-8471. The audio webcast can be monitored at www.matw.com . As soon as available after the call, a transcript of the call will be posted on the Investor Relations section of the Company’s website at www.matw.com . About Matthews International Corporation Matthews International Corporation is a global provider of memorialization products, industrial technologies, and brand solutions. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets, cremation-related products, and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The Industrial Technologies segment includes the design, manufacturing, service and sales of high-tech custom energy storage solutions; product identification and warehouse automation technologies and solutions, including order fulfillment systems for identifying, tracking, picking and conveying consumer and industrial products; and coating and converting lines for the packaging, pharma, foil, décor and tissue industries. The SGK Brand Solutions segment is a leading provider of packaging solutions and brand experiences, helping companies simplify their marketing, amplify their brands and provide value. The Company has over 11,000 employees in more than 30 countries on six continents that are committed to delivering the highest quality products and services. Forward-looking Information Any forward-looking statements contained in this release are included pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of the Company regarding the future, and may be identified by the use of words such as “expects,” “believes,” “intends,” “projects,” “anticipates,” “estimates,” “plans,” “seeks,” “forecasts,” “predicts,” “objective,” “targets,” “potential,” “outlook,” “may,” “will,” “could” or the negative of these terms, other comparable terminology and variations thereof. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company’s actual results in future periods to be materially different from management’s expectations, and no assurance can be given that such expectations will prove correct. Factors that could cause the Company's results to differ materially from the results discussed in such forward-looking statements principally include changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in interest rates, changes in the cost of materials used in the manufacture of the Company's products, any impairment of goodwill or intangible assets, environmental liability and limitations on the Company’s operations due to environmental laws and regulations, disruptions to certain services, such as telecommunications, network server maintenance, cloud computing or transaction processing services, provided to the Company by third-parties, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates, or other factors such as supply chain disruptions, labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company's acquisitions and divestitures, cybersecurity concerns and costs arising with management of cybersecurity threats, effectiveness of the Company's internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company's control, impact of pandemics or similar outbreaks, or other disruptions to our industries, customers, or supply chains, the impact of global conflicts, such as the current war between Russia and Ukraine, the outcome of the Company's dispute with Tesla, Inc. ("Tesla"), and other factors described in the Company’s Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission. Reconciliations of Non-GAAP Financial Measures Included in this report are measures of financial performance that are not defined by GAAP, including, without limitation, adjusted EBITDA, adjusted net income and EPS, constant currency sales, constant currency adjusted EBITDA, net debt and net debt leverage ratio. The Company defines net debt leverage ratio as outstanding debt (net of cash) relative to adjusted EBITDA. The Company uses non-GAAP financial measures to assist in comparing its performance on a consistent basis for purposes of business decision-making by removing the impact of certain items that management believes do not directly reflect the Company’s core operations including acquisition and divestiture costs, ERP integration costs, strategic initiative and other charges (which includes non-recurring charges related to certain commercial and operational initiatives and exit activities), stock-based compensation and the non-service portion of pension and postretirement expense. Constant currency sales and constant currency adjusted EBITDA remove the impact of changes due to foreign exchange translation rates. To calculate sales and adjusted EBITDA on a constant currency basis, amounts for periods in the current fiscal year are translated into U.S. dollars using exchange rates applicable to the comparable periods of the prior fiscal year. Management believes that presenting non-GAAP financial measures is useful to investors because it (i) provides investors with meaningful supplemental information regarding financial performance by excluding certain items that management believes do not directly reflect the Company's core operations, (ii) permits investors to view performance using the same tools that management uses to budget, forecast, make operating and strategic decisions, and evaluate historical performance, and (iii) otherwise provides supplemental information that may be useful to investors in evaluating the Company’s results. The Company's calculations of its non-GAAP financial measures, however, may not be comparable to similarly titled measures reported by other companies. The Company believes that the presentation of these non-GAAP financial measures, when considered together with the corresponding GAAP financial measures and the reconciliations to those measures, provided herein, provide investors with an additional understanding of the factors and trends affecting the Company’s business that could not be obtained absent these disclosures. * Depreciation and amortization was $7,368 and $6,646 for the Memorialization segment, $6,028 and $5,600 for the Industrial Technologies segment, $9,724 and $11,299 for the SGK Brand Solutions segment, and $1,209 and $1,172 for Corporate and Non-Operating, for the three months ended September 30, 2024 and 2023, respectively. Depreciation and amortization was $27,768 and $23,738 for the Memorialization segment, $23,772 and $23,184 for the Industrial Technologies segment, $38,667 and $44,842 for the SGK Brand Solutions segment, and $4,563 and $4,766 for Corporate and Non-Operating, for the fiscal years ended September 30, 2024 and 2023, respectively. ** Acquisition costs, ERP integration costs, non-recurring/incremental COVID-19 costs, and strategic initiatives and other charges were $1,309 and $22 for the Memorialization segment, $40,069 and $614 for the Industrial Technologies segment, $307 and $3,878 for the SGK Brand Solutions segment, and $6,784 and $2,502 for Corporate and Non-Operating, for the three months ended September 30, 2024 and 2023, respectively. Acquisition costs, ERP integration costs, non-recurring/incremental COVID-19 costs, and strategic initiatives and other charges were $3,514 and $1,002 for the Memorialization segment, $54,357 and $4,108 for the Industrial Technologies segment, $3,001 and $10,905 for the SGK Brand Solutions segment, and $10,290 and $3,201 for Corporate and Non-Operating, for the fiscal years ended September 30, 2024 and 2023, respectively. † Strategic initiatives and other charges includes charges for exit and disposal activities (including severance and other employee termination benefits) totaling $41,353 and $6,003 for the three months ended September 30, 2024 and 2023, respectively. $29,283, $1,492, and $10,578 were presented in cost of sales, selling expense, and administrative expense for the three months ended September 30, 2024, respectively. Charges of $4,925 and $1,429, and a credit of $351 were presented in cost of sales, selling expense, and administrative expense for the three months ended September 30, 2023, respectively. Strategic initiatives and other charges includes charges for exit and disposal activities (including severance and other employee termination benefits) totaling $45,705 and $13,210 for the fiscal years ended September 30, 2024 and 2023, respectively. $32,526, $1,379 and $11,800 were presented in cost of sales, selling expense, and administrative expense for the fiscal year ended September 30, 2024, respectively. $9,028, $1,925 and $2,257 were presented in cost of sales, selling expense, and administrative expense for the fiscal year ended September 30, 2023, respectively. Accrued severance and other employee termination benefits totaled $42,245 and $7,321 as of September 30, 2024 and 2023, respectively. Matthews International Corporation Corporate Office Two NorthShore Center Pittsburgh, PA 15212-5851 Phone: (412) 442-8200The Ministry of Education and six other government departments have recently issued a joint directive to further strengthen the work of respecting and supporting teachers. The move aims to enhance the status of teachers, promote teacher professionalism, and improve the overall quality of education in China.
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During the morning lecture, participants were subjected to a sales pitch disguised as a presentation. High-pressure tactics were employed to coerce the elderly individuals into purchasing overpriced products and services, taking advantage of their vulnerability and trust. Despite their reservations, many felt compelled to make purchases under the guise of exclusive discounts and limited-time offers, falling deeper into the trap set by unscrupulous operators.CHY stock touches 52-week high at $12.39 amid market optimism
Italian village offers houses for less than £1 to attract would-be expatsD ear Cathy: I saw the article in your column about the 14-year-old feral cat who was trapped, fixed and left to live outdoors. They mentioned the cat injured a back paw, which made me wonder why they didn’t try to make her an indoor cat where she would be safer. In 2011, we trapped a wild-born feral in our neighborhood, Sox. After getting her fixed and microchipped, we kept her in a half bath with a window for five months, spending time with her daily. It took years for her to trust us, but she eventually became a happy, content indoor cat, even bonding with two of our other cats. We moved across the country with Sox and four other pets, making stops to ensure they were comfortable. Sox remained cautious in our new home but eventually started exploring the house and stopped hiding. She would flop on her back, purr and show us just how happy she had become. She never did want us to touch her or pick her up, though. Sadly, we lost Sox in December 2022 to kidney disease and hypothyroidism. She was so ill at the end that I was able to pick her up for the first time and hold her. We miss her terribly, but we’re grateful for the wonderful life she had with us. — Ken, Las Vegas Dear Ken: Unfortunately, not all feral cats can transition to indoor life as well as Sox did. Cats have a much smaller socialization window than dogs, and if they miss that critical period, they may never adjust to living indoors. Some ferals become severely stressed or fearful in confinement, to the point where their quality of life suffers. In these cases, caretakers often make the tough decision to let them live outdoors. Injuries like the one described in the column are heartbreaking reminders of the risks and challenges outdoor cats face. It also underscores the importance of spaying and neutering pets to reduce the number of unwanted cats left to fend for themselves on the streets. Dear Cathy: My dog, Oliver, is about 2 years old. We’ve had him for a year. He was a stray captured by a Washington, D.C., animal shelter, who was fostered, neutered, vaccinated and operated on for a urinary tract issue. He was later adopted by a family whose “first” dog didn’t want a “little brother.” When we brought him home, his anxiety was understandably high, and he barked aggressively at new faces and visitors. Over time, this behavior has improved — his barking is now less aggressive and shorter. He approaches, backs up and barks a little more but calms down after a few minutes and becomes the friendly, quiet Oliver we love. He’s a terrier mix with a DNA profile showing a mix of about 15 breeds, including bully breeds and husky. He’s a small to medium-size dog. Any suggestions on how to build his confidence when greeting visitors? — Oliver’s Mom, Washington, D.C. Dear Oliver’s Mom: One way to help Oliver feel more secure is to practice controlled greetings. Start with familiar friends. When they arrive, have them enter quietly, avoid direct eye contact and let Oliver approach on his terms. Reward calm behavior with treats and praise, reinforcing that visitors are positive experiences. To strengthen these associations, guests may also offer him a favorite treat or toy upon arrival. The goal is to get Oliver to see new faces as opportunities for fun and rewards, not threats. Pair that with teaching him to sit when new people arrive, since dogs have a more difficult time barking when they are sitting. For extra support, tools like an anxiety wrap, pheromone collar or over-the-counter calming chews can help soothe Oliver and set the stage for success. Puzzle toys filled with high-value treats, reserved specifically for when guests arrive, can also redirect his energy. With consistency and by celebrating small wins, his greeting behavior will likely improve as he builds confidence and learns he is safe. Cathy M. Rosenthal is an author and pet expert. Email her at cathy@petpundit.com . Please include your name, city and state. Get local news delivered to your inbox!AI In Talent Acquisition Global Market Report 2024: A Comprehensive Analysis
"Final Destination 6" promises to deliver all the elements that fans have come to love and expect from the franchise: pulse-pounding suspense, shocking twists, and of course, elaborate and gruesome death scenes. The formula of the series, where a group of characters narrowly escape a catastrophic disaster only to be hunted down by death itself in a series of twisted accidents, has been a winning one, and fans are eager to see how the filmmakers will top themselves this time around.Despite his impressive performances, Liu Shaoang was unable to outshine the Chinese team on the international stage. The Chinese skaters, with their strategic teamwork and relentless pursuit of perfection, consistently surpassed Liu Shaoang and his fellow competitors in various competitions.
A DUP minister rebuffed a suggestion that there could be an extension of pub opening hours in Northern Ireland to celebrate the golden jubilee of the late Queen Elizabeth II in 2002, declassified files show. Stormont minister Maurice Morrow told an official he would not raise the issue with the Northern Ireland Executive, despite similar measures being considered in England and Wales. A file on planning arrangements for the jubilee celebrations reveals a series of civil service correspondences on how Northern Ireland would mark the occasion. It includes a letter sent on January 11 2001 from an official in the Office of the First Minister/Deputy First Minister (OFMDFM) to the Department of Social Development, advising that a committee had been set up in London to consider a programme of celebrations. The correspondence says: “One of the issues the committee is currently considering is the possibility of deregulating liquor licensing laws during the golden jubilee celebrations on the same lines as the arrangements made for the millennium. “It is felt that the golden jubilee bank holiday on Monday 3 June 2002 is likely to be an occasion on which many public houses and similar licensed premises would wish to stay open beyond normal closing time.” The letter said a paper had been prepared on the issue of extending opening hours. It adds: “You will note that paragraph seven of the paper indicates that the devolved administrations ‘would need to consider deregulation separately within their own jurisdictions’. “I thought that you would wish to be aware that this issue is receiving active consideration for England and Wales and to consider whether anything needs to be done for Northern Ireland.” Some months later a “progress report” was sent between officials in OFMDFM, which again raised the issue of licensing laws. It says: “I spoke to Gordon Gibson, DSD, about Terry Smith’s letter of 12 January 2001 about licensing laws: the matter was put to their minister Maurice Morrow (DUP) who indicated that he would not be asking the NIE (Northern Ireland Executive) to approve any change to current licensing laws in NI to allow for either 24 hour opening (as at the millennium) nor a blanket approval for extended opening hours as is being considered in GB. “In both cases, primary legislation would be required here and would necessitate consultation and the minister has ruled out any consultation process.” The correspondence says individual licensees could still apply for an extension to opening hours on an ad hoc basis, adding “there the matter rests”. It goes on: “DSD await further pronouncements from the Home Office and Gibson and I have agreed to notify each other of any developments we become aware of and he will copy me to any (existing) relevant papers. “Ministers may well come under pressure in due course for a relaxation and/or parity with GB.” The document concludes “That’s it so far...making haste slowly?” Emails sent between officials in the department the same month said that lord lieutenants in Northern Ireland had been approached about local events to mark the jubilee. One message says: “Lord lieutenants have not shown any enthusiasm for encouraging GJ celebrations at a local level. “Lady Carswell in particular believes that it would be difficult for LLs to encourage such activities without appearing political.”A longtime player of "Palu Fantasy" shared their perspective on the update, saying, "While I understand the nostalgia attached to throwing Poké Balls, I believe the game needed this change to stay relevant and attract new players. The new summoning method is more accessible and keeps the game moving at a faster pace."
First and foremost, one of the key drivers behind the A-share market's impressive performance is the robust economic recovery in China. As the country continues to successfully navigate through the challenges posed by the global pandemic, economic indicators have shown resilience and strength, instilling confidence in investors and bolstering market optimism. China's GDP growth rebounded strongly in the second quarter, outperforming expectations and demonstrating the resilience of the world's second-largest economy.
In addition to the revenue generated from the pre-sale of VIP boxes, Barcelona is also making strategic moves to bolster its roster with the registration of Ormo. The acquisition of this talented player represents a significant investment in the club's future success. Ormo's skill and potential are expected to enhance Barcelona's performance on the pitch and increase its marketability off the field.BALTIMORE (AP) — Miles Brewster had 18 points in Boston University's 75-71 victory over UMBC on Saturday. Brewster also had six rebounds for the Terriers (2-4). Matai Baptiste added 13 points while shooting 4 for 5, including 3 for 3 from beyond the arc while they also had nine rebounds. Michael McNair went 3 of 6 from the field (2 for 5 from 3-point range) to finish with 10 points. Josh Odunowo led the Retrievers (3-4) in scoring, finishing with 23 points and six rebounds. UMBC also got 18 points from Bryce Johnson. Marlon Short had 10 points and three steals. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .
The hijacking of the YU7 trademark raises concerns about intellectual property rights in the automotive industry. Trademarks are crucial for establishing brand identity and protecting the reputation of a product or service. When a trademark is hijacked, it not only creates confusion among consumers but also poses legal challenges for the rightful owner of the mark.Byfield scores in 200th career game as Kings hold off Kraken for 2-1 win