Micron Solutions, Inc. Reports 2020 Third Quarter Results

(1) Non-GAAP Financial Measures
In addition to reporting net income (loss), a U.S. generally accepted accounting principle (“GAAP”) measure, this news release contains information about Adjusted EBITDA (income from continuing operations adjusted for income taxes, interest, depreciation and amortization, share-based compensation expense and certain non-recurring income and expenses), which is a non-GAAP measure. Share-based compensation includes directors fees paid by means of stock grants versus cash as well as non-cash incentives. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income (loss) and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies.

Safe Harbor Statement

Forward-looking statements made herein, including but not limited to, the duration and effect of Covid-19 on our results of operations and business, the timing and effect of our turnaround plan, the resiliency of our workforce, and the terms, conditions and timing on closing a sale leaseback transaction are based on current expectations of Micron Solutions, Inc. (“our” or the “Company”) that involve a number of risks and uncertainties and should not be considered as guarantees of future performance. Therefore, actual results may differ materially from what is expressed in or implied by these forward-looking statements. The factors that could cause our actual results of operations, financial condition, performance or achievements to be affected materially include, but are not limited to, our ability to obtain and retain order volumes from customers who represent significant proportions of net sales; our ability to maintain our pricing model, offset higher costs with price increases and/or decrease our cost of sales; variability of customer delivery requirements; the level of and ability to generate sales of higher margin products and services; our ability to manage our level of debt and provisions in the debt agreements which could make the Company sensitive to the effects of economic downturns and limit our ability to react to changes in the economy or our industry; failure to comply with financial and other covenants in our credit facility; our ability to refinance the terms of our credit facility on commercially reasonable terms or at all; the impact on the Company’s financial results due to economic uncertainty and disruption including, but not limited to, recent events concerning COVID-19; changes to regulations governing the forgiveness of the Company’s PPP Loan; reliance on revenues from exports and impact on financial results due to economic uncertainty or downturns in foreign markets; volatility in commodity and energy prices and our ability to offset higher costs with price increases; continued availability of supplies or materials used in manufacturing at competitive prices; variations in the mix of products sold; continued availability of supplies or materials used in manufacturing at competitive prices; the amount and timing of investments in capital equipment, sales and marketing, engineering and information technology resources; and the terms, timing, and ability to close the sale-leaseback transaction. The Company assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. More information about the Company's financial results is included in the Company's most recent Annual Report on Form 10-K, and the Company’s Quarterly Report for the period ending September 30, 2020, which is posted at https://www.otcmarkets.com/stock/MICR/ and https://micronsolutions.com/.

For more information, contact:
 
Mr. Wayne Coll
Chief Financial Officer
978.345.5000

Primary Logo



« Previous Page 1 | 2 | 3             



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise