Tag: financial

13
Oct
2020
Posted in website

ConsumerTrack Adds New Financial Website to Roster with Launch of GOFinancialAdvice

LOS ANGELES, Oct. 13, 2020 /PRNewswire/ — In a time of uncertainty like Covid, millions of people struggle with the ongoing trials of financial hardships. ConsumerTrack, a leading Los Angeles-based digital media and marketing company, has seen growing demand from millions of visitors to its personal finance websites, including GOBankingRates.com

Since there is so much unknown in our current world, ConsumerTrack hopes to alleviate the burdens of an uncertain financial future with the launch of GOFinancialAdvice.

Americans seek knowledge and guidance on managing their savings, investing at the optimal time, and keeping their retirement plans on track. To help answer these critical questions and guide people in the right direction, ConsumerTrack is excited to announce the launch of GOFinancialAdvice.com. This new ConsumerTrack website will help match consumers with industry-leading financial experts, based on their individual goals and needs. With many of ConsumerTrack’s top financial banks and brands on board, GOFinancialAdvice will offer an impressive roster to inform each individual’s unique situation with the best financial guidance.

How It Works

  • After completing a short form, users are matched with a trusted advisor.
  • GOFinancialAdvice notifies the user of the specific financial institution/brand with which they are matched.
  • The advisor will initiate a call to learn more about the user’s investment goals and provide an opportunity to sign up for various financial advisory services.

GOFinancialAdvice is creating unique content and tools for consumers to educate themselves and understand their options based on their individual financial goals.

“With GOFinancialAdvice, we have an ambitious goal of helping 1,000,000 people find the right financial guidance and goals that match their needs,” said Jeff Bartlett, President and Co-Founder of ConsumerTrack. Since there is so much unknown in our current world, ConsumerTrack hopes to alleviate the burdens of an uncertain financial future with the launch of GOFinancialAdvice. 

If you have any further questions, please direct all media inquiries to:

Contact:

Christine Kayayan, Media Relations
GOBankingRates.com 
ckayayan@consumertrack.com 
310-297-9233 x101

07
Oct
2020
Posted in technology

Resources Connection, Inc. Reports Financial Results for First Quarter Fiscal 2021

Delivered Positive Operating Cash Flow in an August Quarter

Resources Connection, Inc. (Nasdaq: RGP), a multinational business consulting firm operating as Resources Global Professionals (the “Company” or “RGP”), today announced financial results for its fiscal first quarter ended August 29, 2020.

First Quarter Fiscal 2021 Highlights Compared to Prior Fiscal Year First Quarter:

  • Revenue of $147.3 million compared to $172.2 million, or down 14.4%

  • Gross profit of $57.9 million compared to $67.5 million

  • Gross margin improved 10 basis points to 39.3%

  • SG&A of $51.2 million, an improvement of $5.8 million compared to $57.0 million

  • Net income of $2.3 million compared to $4.9 million

  • Diluted earnings per common share of $0.07 compared to $0.15

  • Adjusted diluted earnings per common share of $0.14 compared to $0.18

  • Adjusted EBITDA margin of 6.9%, consistent with prior year quarter

  • Cash provided by operating activities of $18.6 million compared to cash used in operating activities of $3.0 million

  • Available financial liquidity of $145.2 million as of August 29, 2020, up from $126.3 million as of May 30, 2020

  • Cash dividend declared of $0.14 per share, consistent with prior year quarter

Management Commentary

“While revenue was impacted by the global pandemic, we delivered positive operating cash flow in what is normally a cash outflow quarter by improving our cost structure and sustaining gross margins through effective pricing discipline,” said Kate W. Duchene, Chief Executive Officer. “As announced in early September, we are also well underway with our European restructuring plan which will enhance account and revenue focus, streamline operations and accelerate virtual delivery. Looking ahead, we are encouraged by early signs of stabilization, including pipeline pick up and revenue trend improvement.”

SUMMARY OF CONSOLIDATED FINANCIAL RESULTS

(Amounts in thousands, except percentages and per share amounts)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended (Note)

 

 

August 29,

 

 

May 30,

 

 

August 24,

 

 

2020

 

 

2020

06
Oct
2020
Posted in software

NEC Corp is purchasing Avaloq as it expands into financial services

  • NEC Corp will purchase fintech software provider Avaloq for $2.2 billion as it expands into financial services.
  • The deal will likely benefit both firms in terms of increased revenue gains.

The Japan-based technology giant stated that it’ll acquire Switzerland-based fintech software provider Avaloq from private equity firm Warburg Pincus and other shareholders, per Reuters.

Top global wealth managers' view on their digital transformations

NEC Corp will purchase Avaloq as it expands into financial services.

Business Insider Intelligence


NEC offers digital solutions to global clients cross-sector, including aerospace, telecoms, and finance, and plans to acquire 100% of Avaloq’s shares by April 2021. Avaloq, which offers core banking and centralized data platform solutions to its 150-plus clients, representing approximately $4.5 trillion in client assets, will continue to operate as a separate entity following the completion of the deal.

NEC has been on an acquisition spree as it seeks to maximize profits, and the latest purchase aims to expand its presence in digital finance. NEC has undergone significant restructuring over the last decade, which has involved divesting from less profitable business units, such as its semiconductor and smartphone businesses.

Concurrently, NEC has struck takeover deals of innovative technology firms, including Denmark-based IT company KMD for over $1 billion in 2018 and UK-based public-sector software solution provider Northgate Public Services for over $500 million in 2018. The Avaloq takeover will fuel efforts to drive profitability by deepening NEC’s presence within financial services globally, in conjunction with its existing biometric and blockchain digital finance solutions.

We think the acquisition will fuel sales growth for both companies because it’ll enable NEC to capitalize on financial institutions’ (FIs’) drive to digitize, while Avaloq will reach new FIs in Asia Pacific (APAC).

  • FIs have scrambled to digitize their services amid global lockdowns—and acquiring Avaloq’s digital solutions will drive revenue gains for NEC. Avaloq is an industry-leading wealth
05
Oct
2020
Posted in website

Esquire Financial Holdings, Inc. Announces the Launch of the New Esquire Brand and Website

Enhanced Digital Platform and New Brand Image Reinforce Industry Leadership and Digital Innovation

JERICHO, N.Y., Oct. 5, 2020 /PRNewswire/ — Esquire Financial Holdings, Inc. (NASDAQ: ESQ) (the “Company”), the holding company for Esquire Bank, National Association (“Esquire Bank“), today announced the launch of a new suite of best-in-class digital technologies anchored by a newly designed website (www.esquirebank.com), a powerful customer service CRM platform, and a new brand image (“Esquire Brand”). 


The revamped website transforms our online customer functionality and provides enhanced banking content including online account opening, full account management, and loan application capabilities.  The new website is live and is located at www.esquirebank.com.  The Company also launched a new, customer centric CRM system built on the Salesforce platform. The proprietary platform will facilitate a more robust customer service experience including seamless communications and enhanced multi-media capabilities.  These upgrades to our service model are also reflected in the launch of a new brand image that demonstrates Esquire’s innovation and focus on the unique markets we serve.

“Esquire’s industry leading performance metrics in 2019 once again placed us among the top performing financial services companies in the country,” stated Andrew C. Sagliocca, President and Chief Executive Officer.  “We are extremely excited to announce today’s launch, modernizing our digital capabilities and enabling our website as well as our brand elements to keep pace with our industry leading achievements and our unique products and services.”

Reflecting its commitment to its clients and the markets it serves, the Company and its staff invested significant time and resources over the past year to refine the new Esquire Brand and seamlessly integrate these new platforms.

“The new Esquire Brand will be transformational for our Company, our customers and perspective customers across our target markets,” stated Martin Korn, Senior Vice President

05
Oct
2020
Posted in software

NEC to buy Swiss financial software firm Avaloq for $2.2 bln

Adds context, background

TOKYO, Oct 5 (Reuters)Japan’s NEC Corp 6701.T said on Monday it had agreed to buy Swiss financial software company Avaloq Group AG for 2.05 billion Swiss francs ($2.2 billion), a move that will spearhead its entry globally into digital finance software.

The deal is expected to be completed by April 2021 after necessary approvals, NEC said in a statement. Source text for Eikon:

Privately-held Avaloq, the top provider in Europe of financial asset management software, reported sales of 610 million Swiss francs ($664 million) last year, 70% of which came from Europe.

NEC has spent the last decade restructuring unprofitable units that lost business to price-competitive Asian rivals, selling its semiconductor, personal computer and smartphone units.

The company has since focused on providing governments and businesses with solutions services using its technologies in biometrics, healthcare, data analyses and telecommunications.

It recently received a 64.5 billion yen ($560 million) investment from Japanese telecoms company Nippon Telegraph and Telephone (NTT) 9432.Tto beef up its efforts to develop fifth-generation (5G) wireless technologies.

($1 = 0.9184 Swiss francs)

(Reporting by Chris Gallagher and Makiko Yamazaki; Editing by Muralikumar Anantharaman and Jane Wardell)

((chris.gallagher@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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