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Q2 shortfall sends SmileDirect stock reeling nashvillepost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nashvillepost.com Daily Mail and Mail on Sunday newspapers.
Analyst slashes SmileDirect target on cost concerns nashvillepost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nashvillepost.com Daily Mail and Mail on Sunday newspapers.
Operator Greetings. Welcome to the SmileDirectClub first-quarter 2021 earnings call. [Operator instructions] Please note, this conference is being recorded. I will now turn the conference over to your host, Alison Sternberg. Ms. Sternberg, you may begin. Alison Sternberg -- Vice President, Investor Relations Thank you, operator. Good afternoon. Before we begin, let me remind you that this conference call includes forward-looking statements. For additional information on SmileDirectClub, please refer to the company's SEC filings including the risk factors described therein. You should not rely on our forward-looking statements as predictions of future events. All forward-looking statements that we make on this call are based on assumptions and beliefs as of today. I refer you to our Q1 2021 earnings presentation for a description of certain forward-looking statements. We undertake no obligation to update such information, except as required by applicable law.
A number of analysts on Tuesday downgraded shares of SmileDirectClub after the aligner makerâs executives reported solid first-quarter results but predicted slower revenue growth than the Street had expected. Downtown-based SmileDirect lost $95.6 million in the first quarter, a modest improvement from the the figure of the first three months of last year. But this yearâs number includes a $47.6 million hit from extinguishing some of its debt. Operating losses narrowed to $27.8 million from $96.5 million a year earlier and adjusted EBITDA turned slightly positive for the quarter. CEO David Katzman and CFO Kyle Wailes said they are expecting top-line growth in the second half to be between 5 percent and 7 percent, their stated long-term goal, from the second quarter. But that Q2 figure will likely be depressed by about $15 million because of a cyberattack the company reported last week â news that
Q1 total revenues up 7.2% sequentially and 62.4% year-over-year to a record $894.8 million Q1 diluted net income per share of $2.51; Q1 non-GAAP diluted net income per share of $2.49 Q1 operating income up 222.4% year-over-year to $225.4 million and operating margin of 25.2% Q1 Clear Aligner revenues up 7.5% sequentially and 56.4% year-over-year to a record $753.3 million Q1 Clear Aligner volume up 4.9% sequentially and 65.8% year-over-year to 595.8 thousand cases Q1 Clear Aligner volume for teenage patients was 165.3 thousand cases, up 58.9% year-over-year Q1 Imaging Systems and CAD/CAM Services revenues were up 5.8% sequentially and 104.0% year-over-year to a record $141.5 million Cash and cash equivalents was $1.1 billion as of Q1’21 compared to $960.8 million as of Q4’20
Image: Flickr/U.S. Department of Agriculture Non-college-educated U.S.-born workers have every reason to be enraged by declining wages and living standards, but more restrictive immigration policies won’t solve these problems. In his 2016 article “Yes, Immigration Hurts American Workers,” Harvard economist and right-wing darling George Borjas highlights an incident at a chicken processing plant in Georgia. “A decade ago,” he states, the plant “was raided by immigration agents, and 75 percent of its workforce vanished over a single weekend.” Unable to continue exploiting unauthorized immigrants, the company was forced to recruit Americans at higher wages. Borjas offers one way of interpreting this incident: low-skilled immigrants will work in worse conditions for lower pay, so limiting immigration would create better jobs for unskilled U.S. workers. This is a tempting view, popular even among policymakers; Borjas boasts that both Donald Trump and Hillary Clinton agree with parts of his argument.
SmileDirectClub, Inc. (SDC) Q4 2020 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Five-year notes will convert at price 45% above Friday’s level Shares of SmileDirectClub have fallen 14 percent — giving up gains booked in the past two weeks — since company executives said early Thursday they will sell hundreds of millions of convertible debt. Downtown-based SmileDirect said Thursday it planned to bring to market $350 million of convertible notes scheduled to mature in five years. Late in the day, they said the offering had grown to $650 million and that their investment banks have the option to sell another $97.5 million. The debt’s conversion price is about $18.06, about 40 percent above where SmileDirect closed Thursday after falling 10 percent. The stock (Ticker:
Green Shield Canada partnering with SmileDirectClub to deliver virtual dental care to plan members benefitscanada.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benefitscanada.com Daily Mail and Mail on Sunday newspapers.