1 month ago - businesswire.com

NEW YORK--(BUSINESS WIRE)--Steel Connect, Inc. (the "Company") (NASDAQ: STCN) today announced financial results for its third quarter ended April 30, 2024. Results of Operations During the current quarter, the Company booked a $71.5 million non-cash accounting adjustment to net income as a result of a release of a portion of its valuation allowance for certain pre-existing Company deferred tax assets. The release resulted in a one-time non-cash adjustment to income tax benefit of $71.5 million.

3 months ago - businesswire.com

NEW YORK--(BUSINESS WIRE)--Steel Connect, Inc. (the "Company") (NASDAQ: STCN) today announced financial results for its second quarter ended January 31, 2024. Results of Operations The financial information and discussion that follows below are for the Company's operations. Due to the application of pushdown accounting in connection with the exchange transaction ("Exchange Transaction") on May 1, 2023 with Steel Partners Holdings L.P. (“Steel Partners”), the Company's consolidated financial sta.

4 months ago - globenewswire.com

ModusLink Corporation is one of only 22 Distinguished Award recipients across Intel's global supply chain. ModusLink Corporation is one of only 22 Distinguished Award recipients across Intel's global supply chain.

5 months ago - businesswire.com

NEW YORK--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces its investigation of Steel Connect, Inc. (Nasdaq: STCN) concerning the Company and its directors' and officers' possible violations of state laws. If you own Steel Connect stock, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Tom Kennedy, of GPM, 230 Park Avenue, Suite 358, New York, NY 10169 at tk.

6 months ago - businesswire.com

NEW YORK--(BUSINESS WIRE)--Steel Connect, Inc. (the “Company”) (Nasdaq: STCN), today announced that its Board of Directors (the “Board”) further amended its tax benefits preservation plan, dated as of January 19, 2018, as amended on January 8, 2021 (the “Plan”), to extend the term of the Plan from January 8, 2024 to January 8, 2027 (subject to earlier expiration, as described below). The Company has significant net operating loss carryforwards for federal and state tax purposes and believes tha.

6 months ago - businesswire.com

NEW YORK--(BUSINESS WIRE)--Steel Connect, Inc. (the "Company") (NASDAQ: STCN) today announced financial results for its first quarter ended October 31, 2023. Results of Operations The financial information and discussion that follows below are for the Company's operations. Due to the application of pushdown accounting as a result of the exchange transaction ("Exchange Transaction") on May 1, 2023 with Steel Partners L.P. (“Steel Partners”), the Company's consolidated financial statements includ.

8 months ago - businesswire.com

NEW YORK--(BUSINESS WIRE)--Steel Connect, Inc. (the "Company") (NASDAQ: STCN) today announced financial results for its fourth quarter and fiscal year ended July 31, 2023. Results of Operations The financial information and discussion that follows below are for the Company's operations. References herein to the "three months ended July 31, 2023" or the "fourth quarter" are the Successor period, May 1, 2023 through July 31, 2023. References herein to the “fiscal year ended July 31, 2023” or the.

1 year ago - seekingalpha.com

Steel Connect has a large amount of tax assets on its balance sheet. These are valuable to Steel Connect or to its major shareholder Steel Partners.

1 year ago - investorplace.com

Once again, I drew the short (no pun intended) end of the stick and must discuss stocks to sell right now. Understandably a sensitive topic and one that arouses myriad emotions, I'm just going to stick with the hard numbers.

2 years ago - seekingalpha.com

Steel Connect: The $2 Billion King Of NOLs

3 years ago - seekingalpha.com

The value of Steel Connect's ongoing businesses and substantial NOLs outstanding was detailed in February and March 2021 by Hillandale Advisors. The undefined takeover offer from Steel Partners continues to remain outstanding despite over five months of employing an M&A advisor.

3 years ago - businesswire.com

SMYRNA, Tenn.--(BUSINESS WIRE)--Steel Connect, Inc. (the "Company") (NASDAQ: STCN) today announced financial results for its third quarter ended April 30, 2021. “As we emerge from the pandemic, we remain focused on our highest-return priorities to generate long-term value for all stakeholders,” said Interim Chief Executive Officer and Executive Chairman Warren Lichtenstein. “The Special Committee of the Board of Directors is still evaluating Steel Partners' proposal to purchase all outstanding

3 years ago - seekingalpha.com

Steel Connect: 3 Paths Forward To $4+ Per Share

3 years ago - businesswire.com

SMYRNA, Tenn.--(BUSINESS WIRE)--Steel Connect, Inc. (the "Company") (NASDAQ: STCN) today announced financial results for its second quarter ended January 31, 2021.     Three Months Ended January 31,   Six Months Ended January 31,     2021   2020   2021   2020     (in thousands) Net revenue   $ 156,047     $ 215,452     $ 325,981     $ 440,605   Net (loss) income     (2,196 )     (3,557 )     (5,747 )     1,235   Net (loss) income attributable to common stockholders     (2,726 )     (4,088 )

3 years ago - seekingalpha.com

Steel Connect - Activist, Catalyst And NOL-Rich Small Cap At 54% FCF Yield, Worth $6.00+/Share

3 years ago - businesswire.com

NEW YORK--(BUSINESS WIRE)--Steel Connect Inc. (NASDAQ: STCN) ("Steel Connect" or the "Company") today released a letter from Executive Chairman Warren Lichtenstein on the passing of Tommy Lasorda. January 19, 2021 Yesterday was Martin Luther King Jr. Day. Tomorrow is the Presidential Inauguration. Today we celebrate the life of Thomas Charles Lasorda. When the late Tony Bergamo said he was bringing “Uncle Tommy” to dinner 12 years ago, it changed the course of my life. He became a best friend,

3 years ago - businesswire.com

SMYRNA, Tenn.--(BUSINESS WIRE)--Steel Connect, Inc. (the “Company”) (Nasdaq: STCN), today announced that its Board of Directors (the “Board”) amended its tax benefits preservation plan, dated as of January 19, 2018 (the “Plan”), to extend the term of the Plan to January 8, 2024 (subject to earlier expiration, as described below). The Company has significant net operating loss carryforwards for federal and state tax purposes and believes that its ability to utilize these net operating loss carry

3 years ago - businesswire.com

SMYRNA, Tenn.--(BUSINESS WIRE)--Steel Connect, Inc. (the "Company") (NASDAQ: STCN) today announced financial results for its first quarter ended October 31, 2020.     Three Months Ended October 31,     2020   2019     (in thousands) Net revenue   $ 169,934     $ 225,153   Net (loss) income   (3,551 )   4,792   Net (loss) income attributable to common stockholders   (4,088 )   4,256   Adjusted EBITDA*   22,536     22,843   Adjusted EBITDA margin*   13.3 %   10.1 % Net cash provided by operating

3 years ago - insidermonkey.com

Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the third quarter. You can find articles about an individual hedge fund's trades on numerous financial news websites. However, in this article we will take a look at their collective moves over the last 5 years and analyze what the smart money thinks of Steel Connect, Inc. (NASDAQ:STCN) based on that data.

3 years ago - businesswire.com

WALTHAM, Mass.--(BUSINESS WIRE)--Steel Connect, Inc. (the "Company") (NASDAQ: STCN) today announced the appointment of Renata Simril to the Company's Board of Directors effective October 23, 2020. “We are pleased to welcome Renata as a new independent director to the Steel Connect board,” said Warren Lichtenstein, Executive Chairman and Interim CEO of Steel Connect. “Renata's skills and experience are well suited to drive value creation. We are confident she will provide valuable perspectives a