Conn’s Turns To Profit In Q1, Tops Estimates On Strong Comps

Specialty retailer Conn’s, Inc. (CONN) reported Thursday that its first-quarter net income was $45.40 million, compared to loss of $56.20 million a year ago.

Earnings per share were $1.52, compared to loss of $1.95 per share a year ago. The increase in net income was primarily due to an increase in retail revenue and a decrease in the provision for bad debts.

Adjusted net income was $46.3 million or $1.55 per share, compared to adjusted net loss of $54.6 million, or $1.89 per share last year.

Total revenues were $363.70 million, higher than last year’s $317.16 million.

On average, three analysts polled by Thomson Reuters expected earnings of $0.30 per share on revenues of $293.77 million. Analysts’ estimates typically exclude special items.

Same store sales increased 19.4 percent for the first quarter compared to last year, and increased 1.8 percent on a two-year basis.

E-commerce sales increased 95.7 percent as compared to the prior fiscal year period.

In pre-market activity on Nasdaq, Conn’s shares were gaining around 8.3 percent to trade at $26.

UK halts trials of new tanks that vibrate and can't go fast

LONDON — The British military said Thursday that it paused trials of its new fleet of tanks, after a newspaper reported the vehicles can’t travel safely at more than 20 miles (32 kilometers) an hour or reverse over obstacles more than 8 inches (20 centimeters) high.

The Ministry of Defense confirmed it had paused some training on the Ajax armored vehicles “as a precautionary measure,” after the Daily Telegraph newspaper reported a litany of problems with the tanks, including an inability to fire cannons while moving.

The newspaper cited a report due to be published next month. It said excessive vibrations had caused the speed restrictions and that crews were limited to 90 minutes inside the tanks at a time.

The defense ministry said it was investigating the tanks’ issues along with the manufacturer, American aerospace and defense company General Dynamics. It said training on the Ajax vehicles had resumed “with appropriate safety measures in place.”

“We are committed to the Ajax programme, which will form a key component in the Army’s modernized warfighting division, with current plans for Initial Operating Capability scheduled for summer 2021,” the ministry said in a statement.

Britain’s procurement program for a new generation of fighting vehicles is years behind schedule.

Bucs QB Tom Brady admits he was ‘confused’ on fourth-down blunder in Chicago

Tampa Bay Buccaneers quarterback Tom Brady can add another tag line to his historic football career as a seven-time Super Bowl champion: TikTok aficionado. 

On Wednesday, the 43-year-old signal caller took to his account to highlight two memorable plays from last season. 

Brady admitted that, as many suspected, he didn't know it was fourth down in Tampa Bay's 20-19 loss to the Chicago Bears. At the end of the Week 5 game, Brady failed to connect on a pass to tight end Cameron Brate but was motioning as if there was another down. There wasn't. The game was over. He told reporters after the game he was simply more focused on yardage. 

Auris Medical Acquires RNA Therapeutics Company Trasir Therapeutics – Quick Facts

Clinical-stage company Auris Medical Holding Ltd. (EARS) announced Thursday that it has acquired privately-held RNA Therapeutics Company Trasir Therapeutics, Inc. The purchase price comprises 0.77 million common shares of the acquiring company, the assumption of certain selling shareholders’ cash outlays as well as a future share-based payment contingent on reaching a specific development milestone.

The transaction, which closed on June 1, 2021, is the starting point for a strategic repositioning under which the Company intends to focus on the development of RNA therapeutics while in the medium term aiming to spin off or divest its existing assets in neurotology, rhinology and allergology.

Dr. Samuel Wickline, Trasir’s founder and Professor of Medicine, has been appointed Chief Scientific Officer and joined the Company’s leadership team.

To reflect the Company’s strategic repositioning, the Board of Directors of Auris Medical intends to call an extraordinary general meeting of shareholders to propose to change its corporate name to Altamira Therapeutics Ltd. Upon approval of the proposed name change, the Company’s shares will start trading under the ticker symbol “CYTO” – the word root for cell in ancient Greek – instead of “EARS.”

In addition, the Board intends to propose the election of Margrit Schwarz, PhD, MBA, as an additional Board member.

Meet the homeowners confronting climate change in their own backyards

• These suburban homeowners are confronting the world’s biggest problems, like the pandemic and climate change, in their own backyards.
• David Holmgren’s book “Retrosuburbia: The Downshifter’s Guide to a Resilient Future” inspired a global community.
• Fewer cars and more green space that neighbors can share are just a few ideas outlined in the book that can help tackle the challenges of climate change.
• Holmgren says that the coronavirus — and the response to it — could be a preview of harder times to come. 

• See more stories on Insider’s business page.

Unisys To Acquire Unify Square For $152.5 Mln On A Cash-free, Debt-free Basis – Quick Facts

IT solutions company Unisys Corp. (UIS) announced Thursday that it has entered into an agreement to acquire Unify Square, the leading experience management provider for secure collaboration and communications platforms, for $152.5 million on a cash-free, debt-free basis.

Unisys is funding the transaction with cash on hand. The purchase price is subject to customary adjustments based on closing cash, indebtedness and working capital.

The transaction, which is expected to close today, will enable Unisys to leverage Unify Square’s Unified Communications as a Service (UCaaS) offerings to help advance its experience-focused digital workplace services solution set.

Unisys Digital Workplace Services deliver advanced workplace solutions to help clients transform their digital workplaces and create exceptional end-user experiences.

The integration of Unisys’ and Unify Square’s digital workplace services capabilities will help clients achieve seamless collaboration and experience parity through excellent employee experiences and agile ways of working that enable innovation any time, anywhere and on any device.