(BUSINESS WIRE) -- Tecnotree, a global digital platform and services leader for AI, 5G, and cloud-native technologies, announced today its financial results for the quarter ended September 30, 2023.
Key highlights of the third quarter financial results:
Net sales in the third quarter were EUR 21.4 million, showing 7.4% growth compared to last year
Operating results increased 23.0% to EUR 6.2 million as compared to 5.0 last year
Net result decreased by 3.3% to EUR 3.2 million
Cash flow after investments was EUR -7.9 million
Earnings per share were EUR 0.01
Tecnotree received EUR 31 million of new orders for the Quarter and the Order Backlog at the end of the period stood at EUR 78.0 million
Commenting on the results for the third quarter of 2023, Padma Ravichander, CEO of Tecnotree Corporation, said, “We are pleased with our performance this quarter as we maintain an ongoing momentum of consistent growth despite ch
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ESPOO, Finland - Friday, 27. October 2023
(BUSINESS WIRE) -- Tecnotree is pleased to announce that it has received legally binding interest from a consortium of shareholders for EUR 20,000,000. As a part of the consortium, we are pleased to welcome the Royal Front Investments Group, an existing proven partner of the company in the EMEA Region.
Markku Wilenius has confirmed his intention to transfer his unpaid subscriptions rights for his 200 notes to the Consortium to enable proposed transactions.
The parties will now work together over the next 15 days to conclude definitive agreements.
Sina Fattahi, Board Member of Royal Front Investments Group, said, “We have had the pleasure of working with Tecnotree for the past few years and are impressed by the consistent performance of the company. Our commitment to Tecnotree reflects our confidence in the company's potential and its role in the ever-evolving digital landscape. This is a terrific oppor
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Industrial organizations will benefit from industry-first Generative AI for automation design
(BUSINESS WIRE)--Rockwell Automation, Inc. (NYSE: ROK) and Microsoft Corp. (NASDAQ: MSFT) today announced an extension of their longstanding relationship to accelerate industrial automation design and development through generative artificial intelligence (AI). The companies are combining technologies to empower the workforce and accelerate time-to-market for customers building industrial automation systems. The first outcome of this collaboration will add Microsoft’s Azure OpenAI Service into FactoryTalk® Design Studio™ to deliver industry-first capabilities accelerating time-to-market for their customers building industrial automation systems.
“T
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Biofach Saudi Arabia 2023, the premier organic products exhibition, is set to showcase a diverse array of organic offerings, spanning from fruits and vegetables to dairy products, grains, and meats. This event presents a unique opportunity to explore the latest trends and innovations in the organic sector.
The EU-funded campaign, known as "EU Organic Journey," is on a mission to raise awareness and promote European organic products from Greece, Romania, and Bulgaria. The campaign targets consumers in the UAE, Saudi Arabia, and the USA. It brings together key organizations, including Agrodiatrofiki Sympraxi Perifereias Stereas Elladas (ASPSE) from Greece, Biocarpathia Cooperative from Romania, and the National Organic Association (NAO) from Bulgaria. The featu
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NEW YORK - Friday, 27. October 2023
(BUSINESS WIRE)--MSCI Inc. (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community, announced today that the MSCI Nigeria Indexes will be reclassified from Frontier Markets to Standalone Markets status in one step coinciding with the February 2024 Index Review.
This conclusion follows feedback received from market participants from its recent extended Consultation on a Market Reclassification Proposal for the MSCI Nigeria Indexes.
Since March 2020, liquidity challenges in the Nigerian foreign exchange (FX) market have consistently affected the accessibility of its equity market, leading to ongoing capital repatriation concerns and a significant gap between the official and parallel exchange rates for the Nigerian Naira. This has caused international institutional investors to face recurring challenges with index replicability and investability of the MSCI Nigeria
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(BUSINESS WIRE)--Stationary battery manufacturer Hithium exhibited this week at the most anticipated event in the clean energy sector's annual calendar All-Energy Australia, held in partnership with the Clean Energy Council.
Hithium presents the new 5 MegaWatt hours container the ∞Block using the standard 20-foot container structure. The more compact second generation (ESS 2.0), higher-capacity energy storage system delivers 46% higher energy density than standard systems based on 280 Ah cells. The product will come pre-installed and ready to connect, outfitted with 48 battery modules based on the manufacturer’s new 314 Ah LFP cells, each module providing 104.5 kWh capacity and designed to meet the needs of large utility scale systems. The container will also be technically compatible with most top inverter brands’ power control systems, or bidirectional inverters.
The new energy storage system also comes with Hithium’s mature multi-level,
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WASHINGTON - Friday, 27. October 2023 AETOSWire
Decision Holds World’s Largest Company Accountable for Its Patent Infringement
(BUSINESS WIRE)--Masimo (NASDAQ: MASI) today announced that the United States International Trade Commission (USITC) has recommended a limited exclusion order for infringing Apple Watches with light-based pulse oximetry functionality. The USITC found that Apple (NASDAQ: AAPL) violated U.S. laws by incorporating Masimo’s patented light-based pulse oximetry technology in its products. The exclusion is scheduled to go into effect after a 60-day Presidential review period.
“Today’s ruling by the USITC sends a powerful message that even the world’s largest company is not above the law,” said Joe Kiani, Founder, Chairman, and CEO of Masimo. “This important determination is a strong validation of our efforts to hold Apple accountable for unlawfully misappropriating our patented technology,&rdq
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