The company then spent the first quarter taking those bets in different directions, ramping up its stake in Marsh McLennan and Verizon Communications Inc. while cutting a Chevron Corp. holding roughly in half.Buffett and two of his key deputies, Todd Combs and Ted Weschler, oversee investments for the conglomerate’s $282 billion stock portfolio. CPI Card Group Inc. (OTCQX: PMTS, TSX: PMTS) ("CPI" or the "Company"), a payment technology company and leading provider of credit, debit and … CPI Card Group® is a payment technology company and leading provider of credit, debit and prepaid solutions delivered physically, digitally and on-demand. CPI Card Group ® is a payment technology company and leading provider of credit, debit and prepaid solutions delivered physically, digitally and on-demand. Investors are estimated to have lost $930 million on their short positions in meme stocks GameStop and AMC Entertainment over the last five trading days, data from financial analytics firm Ortex showed on Tuesday. Turning the Tide on Ocean Plastics (Apr 2020), The Road to Contactless | A market ready for change | ICMA Magazine (Feb 2020), Metal Cards: From ‘Elite’ to Everyday (Jan 2020), Considering Creativity, New Technology, Equipment when it comes to Card Design (Dec 2019), What Consumer Payments Innovation Means for Retailers (Nov 2019), Instant purchasing power should push faster card access (Sep 2019), This new credit card is made from plastic that would have ended up in the ocean (Sep 2019), Should issuers of plastic cards go green? Net sales increased 20% year over year to $89.1 million in the first quarter of 2021. From front-line employees to the top leadership, everyone is fully committed to ensuring that we consistently provide quality products and services that exceed … This category only includes cookies that ensures basic functionalities and security features of the website. Net Sales Up 20% and Diluted EPS of $0.21 per share, Up 37% Year Over Year, Net Income of $2.4 Million, Up 37% Year Over Year, Adjusted EBITDA of $22.1 Million, Up 78% Year Over Year, Debt Maturities Extended Approximately Five Years, Cash of $25 Million and $34 Million available under the ABL Revolver at Quarter End. And lots to gain. About us. CPI helps our customers foster connections and build their brands through innovative and reliable solutions, including financial payment cards, personalization and fulfillment, and Software-as-a-Service (SaaS) instant issuance. CPI Card Group ® is a payment technology company that provides end-to-end debit, credit and prepaid payment solutions delivered physically, digitally and on-demand. Earnings per share from continuing operations - Basic and Diluted: Basic weighted-average shares outstanding: Diluted weighted-average shares outstanding: Accounts receivable, net of allowances of $237 and $289, respectively, Prepaid expenses and other current assets, Plant, equipment and leasehold improvements and operating lease right-of-use assets, net, Series A Preferred Stock; $0.001 par value—100,000 shares authorized; 0 shares issued and outstanding at March 31, 2021 and December 31, 2020, Common stock; $0.001 par value—100,000,000 shares authorized; 11,230,482 shares issued and outstanding at March 31, 2021 and December 31, 2020, Total liabilities and stockholders’ deficit, Condensed Consolidated Statements of Cash Flows. Our non-GAAP measures may be different from similarly titled measures of other companies. CPI helps our customers foster connections and build their brands through innovative and reliable solutions, including financial payment cards, personalization, and Software-as-a-Service (SaaS) instant issuance. Debit and Credit Segment net sales increased 17% year over year to $69.8 million in the first quarter of 2021, driven primarily by higher volumes of contactless card sales and card personalization, including new customer growth. "Our solid start to 2021 was punctuated by strong year over year growth in net sales and profitability, and our success in growing the top line contributed to greater operating leverage," said John Lowe, Chief Financial Officer. )More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- When headline crude futures topped $70 a barrel on Tuesday, it was just the latest landmark in a banner year for raw materials.From copper to iron ore and oil, prices have rallied broadly in 2021, as the global economy emerges from the depths of the coronavirus pandemic and fires up demand. CPI helps our customers foster connections and build their brands through innovative and reliable solutions, including financial payment cards, personalization, and Software-as-a-Service (SaaS) instant issuance. Ethereum lost more than 40%, while Dogecoin declined 45%, before joining in Bitcoin’s rebound.Read more: Bitcoin Plunge Wipes $500 Billion From Value in Crypto RoutThe broader U.S. stock market also made up some ground with the S&P 500 Index closing down 0.3% and the Nasdaq 100 Index up 0.2% after both lost more than 1.6% earlier in the session.MicroStrategy Inc. was down 6.6% after losing as much as 16% earlier. We are encouraged by our solid execution during the first quarter of 2021 and remain committed to our strategy.". CPI uses its investor relations site (http://investor.cpicardgroup.com) as a means of disclosing material information and for complying with its disclosure obligations under Regulation FD. By continuing to browse our site, you accept our use of cookies, Privacy Policy and Terms of Use. This table compares Tervita and CPI Card Group's net margins, return on equity and return on assets. Experienced hands look to be buying the dip as a key bitcoin price indicator suggests the pullback may be coming to an end. U.S. will share Covid vaccine doses abroad, Amazon mulling acquisition of MGM movie studio, Coinbase is issuing a convertible bond, and other news to start your day. Iron ore also hit a record recently with the steelmaking raw material surging as China churns out more of the alloy that ever. This website uses cookies to improve your experience while you navigate through the website. )More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. https://www.businesswire.com/news/home/20210511005707/en/, UBS explains why you don’t need crypto in your portfolio, Coinbase Closes at a Record Low After Wild Bitcoin Session, Outlook for mask mandates for unvaccinated, U.S. Stocks Mixed; Yields Rise on Fed Minutes: Markets Wrap, Fed Officials Signal Open to Taper Talk at ‘Upcoming Meetings’, GBP/JPY Price Forecast – British Pound Pulls Back From Big Figure, Big money investors suggest the cycle has peaked: Morning Brief, Place A Bag On Your Car Mirror When Traveling, Santander's Botin defends Orcel offer as CEO row reaches court, Walmart Shares Climb on Q1 Earnings Beat and Raised Outlook; Target Price $180 in Best Case, China Will Need to Give Up FX Controls Eventually, PBOC Official Says, Bitcoin Drops Below $31K Before Rebounding; $8B in Liquidations Triggered, Epic Tries to Show Apple Is Antitrust Violator Beyond App Store, Bitcoin recovers after crypto selloff abates, Why Cathie Wood’s ARKK Is Still Betting on Coinbase, Explainer: What Beijing's new crackdown means for crypto in China, Ark Investment’s Cathie Wood Says Bitcoin Will Go to $500,000, Gamestop, AMC short sellers sit on nearly $1 billion loss - Ortex, Bitcoin Chart Indicator Suggests Worst of Pullback May Be Over, AMC Entertainment Stock Is Soaring Again — and the Meme Trade Won’t Die, $70 Oil, $200 Iron, $10,000 Copper: Commodities Smash Milestones, ‘Extreme Fear’ Grips Bitcoin Market After Price Plunge, Sentiment Gauge Shows, Berkshire Exits Synchrony Bet, Adds Stake in Broker Aon, MGM Gains on JP Morgan Upgrade, Citing Improving Las Vegas Traffic. Profitability. Encased metal products and production technology are protected by the following patents of CPI Card Group Inc.: U.S. Patent Nos. In addition, certain of these expenses represent the reduction of cash that could be used for other purposes. CPI Card Group® is a payment technology company and leading provider of credit, debit and prepaid solutions delivered physically, digitally and on-demand. We use cookies to improve your website experience. CPI Card Group® is a payment technology company and leading provider of credit, debit and prepaid solutions delivered physically, digitally and on-demand. Card@Once is a registered trademark of CPI Card Group Inc.: U.S. Patent No. Adjusted EBITDA has important limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for, analysis of our results as reported under GAAP. Cash paid (refunded) during the period for: Right-to-use assets obtained in exchange for lease obligations: Accounts payable, and accrued expenses for capital expenditures for plant, equipment and leasehold improvements, For the Three Months Ended March 31, 2021 and March 31, 2020. CPI Card Group® Becomes the First Licensee in the ICMA EcoLabel Standard Program Tue Feb 02 2021. We caution and advise readers not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The British pound initially tried to break above the ¥155 level during the trading session on Wednesday but gave up gains as we saw a general “risk off” type of move. The downturn quickly infected other cryptocurrencies, with Ethereum sinking by over 36pc and Dogecoin tumbling an even greater 41.5pc. ©2019 CPI Card Group Inc. All Rights Reserved Contactless cards get a strong second wind in the U.S. (Jan 2018), Has EMV issuance already run its course? CPI Card Group has lower revenue, but higher earnings than Tervita. CPI has more than 20 years of experience in the payments market and is a trusted partner to financial institutions and payments services providers. First quarter 2021 net income and diluted earnings per share increased 37% to $2.4 million and $0.21 per share, respectively. Our goal is to help our customers foster compelling connections and build their brands with solutions that enhance people’s everyday lives while being more environmentally-conscious in the products we offer and the way we operate. “Commodities are reopening-and-reflation trades.”Beyond of raw materials, there are wider booms underway across commodity markets. "The strong results combined with our recent debt refinancing provide flexibility to support our strategic initiatives by extending debt maturities and enhancing liquidity. Aon and Willis Towers Watson have agreed to sell some assets to help ease regulatory concerns around their proposed combination. See insights on CPI Card Group including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. She went further, indicating that Apple’s iCloud Keychain service for storing passwords on Apple devices can’t synchronize with Android devices. This includes personalizing content and advertising. The words "believe," "estimate," "project," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could," "continue," "committed," "guides," "provides guidance," "provides outlook" or other similar expressions are intended to identify forward-looking statements, which are not historical in nature. (Sep 2019), Study: Payment objects ready to 'explode' (Jun 2019), How will the rising demand for contactless cards affect instant issuance? Commodities dropped after Chinese authorities suggested a curb on price increases, causing investors to flee their holdings in the sector. Continued restrictions on flying are likely to force people into their cars when they go on vacation, potentially proving to be a boon in road fuels demand. Year over year, Free Cash Flow decreased $4.6 million, primarily due to changes in working capital to support the business. Wheat, corn, and sugar all hit multiyear highs recently, while palm oil reached a record and soybean oil is trading near an all-time high.Gold rose to the highest in more than three months, breaking out of a downtrend its held since August, on growing inflation concerns and assurances on monetary policy.Economic RecoveryCopper has been one of the main beneficiaries of a broad economic recovery and vast stimulus programs around the world, but investors are also getting excited about the longer-term outlook.The metal is crucial for nearly all the technologies and infrastructure needed to decarbonize the global economy with supply struggling to keep pace with consumption. In the first quarter of 2021, the Company completed a private offering by its wholly-owned subsidiary, CPI CG Inc., of $310 million aggregate principal amount of 8.625% senior secured notes due March 2026 (the "Senior Notes"), and concurrently entered into a $50 million secured asset based revolving credit facility (the "ABL Revolver") maturing in December 2025. The EMV trademark is owned by EMVCo, LLC. Gross profit increased 39% year over year in the first quarter of 2021 to $35.7 million. For investor relations information, please visit our Investor Relations website at investor.cpicardgroup.com. CPI is a leading payment solutions provider proudly offering credit, debit and prepaid debit card solutions. Prepaid Debit Segment net sales increased 34% year over year to $19.5 million in the first quarter of 2021. We define Free Cash Flow as cash flow provided by (used in) operating activities less capital expenditures. CPI Card Group® is a payment technology company and leading provider of credit, debit and prepaid solutions delivered physically, digitally and on-demand. Free Cash Flow should not be considered in isolation, or as a substitute for, cash (used in) provided by operating activities or any other measures of liquidity derived in accordance with GAAP. CPI Card Group (OTC:PMTS): Q1 GAAP EPS of $0.21.Revenue of $89.09M (+20.4% Y/Y)Press Release As of March 31, 2021, cash and cash equivalents was $24.9 million. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise. Ultrasecure card package is protected by U.S. Patent No. Certain statements and information in this release (as well as information included in other written or oral statements we make from time to time) may contain or constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company extended its debt maturities by approximately five years, and enhanced liquidity by entering into a $50 million secured asset based revolving credit facility, as further described below. Encased metal products and production technology are protected by the following patents of CPI Card Group Inc.: U.S. 8,857,722, 9,117,155, 9,430,724, 9,779,343; 10,032,099; 10,255,536; 10,445,628, 10,824,926; Canada 2,879,639, 3,073,852; UK GB2519046; Japan 6777836; Korea 10-2208865 : 8429075 and 10,275,747 and multiple patents outside of the United States. (Updates crypto and stock moves throughout. He cited the fact the yuan has weakened past 7 per U.S. dollar -- previously seen as an important psychological threshold -- in the past two years, and said it’s one of the more volatile major currencies in the world.The yuan will appreciate against the U.S. dollar in the long term as a result of China’s continued economic growth and the rising purchasing power of the currency, as well as the Federal Reserve’s repeated monetary easing, according to the speech. The FTSE 250 shed 98.03 points to 22,234.53. (Updates with stake sizes, Verizon, Chevron, Kroger and RH starting in second paragraph. Tervita is trading at a lower price-to-earnings ratio than CPI Card Group, indicating that it is currently the more affordable of the two stocks. MADRID (Reuters) -Santander boss Ana Botin defended the bank's actions in a court hearing over the withdrawal of a multi-million euro offer more than two years ago to make Italian banker Andrea Orcel its CEO. Shortage of workers threatens recovery as economy reopens Sign up here for our daily business briefing newsletter Bitcoin crashed by as much as 30pc today after China banned financial services firms from providing cryptocurrency services, dragging down other major cryptocurrencies at the same time. CPI Card Group® Reaches Milestone of Delivering 25+ Million Contactless Second Wave® Cards Tue Feb 09 2021. Top news and what to watch in the markets on Wednesday, May 19, 2021. Chinese regulators have tightened restrictions that ban financial institutions and payment companies from providing services related to cryptocurrencies, marking a fresh crackdown on digital money. CPI helps our customers foster connections and build their brands through innovative and reliable solutions, including financial payment cards, personalization, and Software-as-a-Service (SaaS) instant issuance. Argentina’s government is limiting exports of beef, a staple in the country, to try to contain runaway inflation that’s approaching 50% annually. Learn more at www.cpicardgroup.com. Such forward-looking statements, because they relate to future events, are by their very nature subject to many important risks and uncertainties that could cause actual results or other events to differ materially from those contemplated. CPI Card Group® is a payment technology company and leading provider of credit, debit and prepaid solutions delivered physically, digitally and on-demand. (Jul 2017), Costlier metal EMV cards may be worth their weight in retention (July 2017), Crooks are on the prowl for late EMV converts (Jun 2017), Metal credit cards: The latest American status symbol (Apr 2017), What is the Future of Mobile Wallets? Three financial industry associations on Tuesday directed their members, which include banks and online payment firms, not to offer any crypto-related services, such as account openings, registration, trading, clearing, settlement and insurance, reiterating the 2017 ban. Schiller couched it as an initiative to help small businesses during the Covid-19, but acknowledged under questioning that the company was also pivoting in response to worldwide scrutiny over App Store practices.In an attempt to demonstrate that Apple favors its in own apps in search results on the App Store -- another type of anticompetitive behavior -- Forrest showed an exhibit of Apple Music and Apple News appearing on the top of search result rankings instead of third-party apps.Schiller had an answer for that too: Search algorithms look at dozens of different variables, including which apps users already have on their devices.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Inflation more than doubles to 1.5pc in April FTSE 100 drops below 7,000 benchmark, down 1.5pc Bitcoin shed as much as 30pc as major sell off grips cryptocurrencies Bitcoin price crash: should you sell your cryptocurrency? Top trader Trafigura Group has talked up the prospects for copper to hit $15,000 a ton in the coming decade.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. A lack of mine investment and paucity of new projects has prompted forecasts of shortages.There’s optimism among oil bulls that the crude market will keep running hot into the summer too. (May 2019), The Rise of Contactless Calls for Evolved Instant Issuance (May 2019), 3 drivers helping bridge the gap to a cashless society (Nov 2018), Gig work's growth places pressure on faster payments (Nov 2018), Instant issuance: SFP or SaaS? She added: “UK inflation figures will have prompted some investors to take a long look at their portfolios. Elsewhere, defence business BAE Systems fell 0.6p to 519.8p despite saying it is on target to meet its full-year guidance, with its air, maritime, electronic systems and intelligence and security operations all performing strongly. These statements are based on assumptions that may not be realized and involve risks and uncertainties that could cause actual results or other events to differ materially from the expectations and beliefs contained herein. The prices of the raw materials used to make everything from houses to coffee are skyrocketing, underscoring the giant reflation trade that has gripped global markets this year.“It’s driven by inflation concerns and demand,” said Giovanni Staunovo commodity analyst at UBS Group AG. Brilliant Car Cleaning Hacks Local Dealers Wish You Didn’t Know. Adjusted EBITDA increased 78% to $22.1 million in the first quarter of 2021, compared to $12.4 million in the prior year period, as a result of net sales growth and improved operating leverage. We also use third-party cookies that help us analyze and understand how you use this website. Contact us today to learn more about the products and solutions CPI Card Group has to offer. With more than 20 years of experience as a trusted partner to financial institutions, CPI Card Group ® is a leading provider in payment card production and related services, offering end-to-end credit, debit, and prepaid payment solutions delivered physically, digitally and on-demand. (Oct 2018), Dynamics Wallet Card nears launch with U.S. pushed to the periphery (Jul 2018), CPI Card Group: Providing Ideal Payment Technology Solutions Within Your Means (May 2018), Why Are Credit Card Numbers on the Back Now? CPI Card Group® is a payment technology company and leading provider of credit, debit and prepaid solutions delivered physically, digitally and on-demand. This provides a great opportunity for China to promote wider use of the yuan, he said.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. These cookies do not store any personal information. : 10,625,915; U.S. Patent No. (Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.China has to give up its control over the currency’s exchange rate eventually if it wants to achieve greater global use of the yuan, according to a central bank official.The yuan exchange rate will have to be determined by global market participants, and this will allow China to have free cross-border capital flows and pursue an independent monetary policy, Zhou Chengjun, director of the People’s Bank of China’s finance research institute, said in a speech published Wednesday.“We need to admit that under the condition of yuan internationalization, we won’t be able to control the exchange rate, and China’s central bank has to let go of exchange-rate goals in the end,” said Zhou. CPI has … It has now erased about two-thirds of its value from its February high.Amid other crypto-connected stocks, Bit Digital Inc. was down 17%, Ebang International Holdings lost 9.8%, and Marathon Digital Holdings Inc. and Riot Blockchain Inc. both slid 5.6%. Her point: Apple doesn’t just lock in developers with its App Store rules, it also locks in consumers, limiting their ability to switch to competitors.In response, Schiller said many users subscribe to video and music streaming services and can input their passwords into a new device manually. Danni Hewson, a financial analyst at AJ Bell, said that a decision by Iceland to hike interest rates will have done nothing to soothe shareholders’ nerves. CPI Card Group has 1,100 employees across 12 locations and $312.19 M in annual revenue in FY 2020. Ortex said short interest in AMC is currently estimated to be 18.3% of freefloat and in GME it is estimated at 21.8% of freefloat. These risks and uncertainties include, but are not limited to: the potential effects of COVID-19 on our business, including our supply-chain, customer demand, workforce, operations and ability to comply with certain covenants in our credit facilities; our lack of eligibility to participate in government relief programs related to COVID-19 or inability to realize material benefits from such programs; our substantial indebtedness, including inability to make debt service payments or refinance such indebtedness; the restrictive terms of our credit facilities and covenants of future agreements governing indebtedness and the resulting restraints on our ability to pursue our business strategies; our limited ability to raise capital in the future; a disruption or other failure in our supply chain; the effects of current or additional U.S. government tariffs as well as economic downturns or disruptions, including delays or interruptions in our ability to source raw materials and components used in our products; system security risks, data protection breaches and cyber-attacks; interruptions in our operations, including our information technology systems, or in the operations of the third parties that operate the data centers or computing infrastructure on which we rely; failure to comply with regulations, customer contractual requirements and evolving industry standards regarding consumer privacy and data use and security; disruptions in production at one or more of our facilities; our failure to retain our existing customers or identify and attract new customers; our inability to recruit, retain and develop qualified personnel, including key personnel; our inability to adequately protect our trade secrets and intellectual property rights from misappropriation, infringement claims brought against us and risks related to open source software; defects in our software; problems in production quality, materials and process; a loss of market share or a decline in profitability resulting from competition; our inability to develop, introduce and commercialize new products; new and developing technologies that make our existing technology solutions and products obsolete or less relevant or our failure to introduce new products and services in a timely manner; costs and impacts to our financial results relating to the obligatory collection of sales tax and claims for uncollected sales tax in states that impose sales tax collection requirements on out-of-state businesses, as well as new U.S. tax legislation increasing the corporate income tax rate and challenges to our income tax positions; failure to meet the continued listing standards of the Toronto Stock Exchange or the rules of the OTCQX® Best Market; a decrease in the value of our common stock combined with our common stock not being traded on a United States national securities exchange, which may prevent investors or potential investors from investing or achieving a meaningful degree of liquidity; quarterly variation in our operating results; our inability to realize the full value of our long-lived assets; our failure to operate our business in accordance with the Payment Card Industry Security Standards Council security standards or other industry standards; a decline in U.S. and global market and economic conditions and resulting decreases in consumer and business spending; costs relating to product defects and any related product liability and/or warranty claims; our dependence on licensing arrangements; risks associated with international operations; non-compliance with, and changes in, laws in the United States and in foreign jurisdictions in which we operate and sell our products and services; the effect of legal and regulatory proceedings; our ability to comply with a wide variety of environmental, health and safety laws and regulations and the exposure to liability for any failure to comply; risks associated with the majority stockholders’ ownership of our stock; the influence of securities analysts over the trading market for and price of our common stock; our inability to sell, exit, reconfigure or consolidate businesses or facilities that no longer meet with our strategy; potential conflicts of interest that may arise due to our board of directors being comprised in part of directors who are principals of our majority stockholders; certain provisions of our organizational documents and other contractual provisions that may delay or prevent a change in control and make it difficult for stockholders other than our majority stockholders to change the composition of our board of directors; and other risks that are described in Part I, Item 1A – Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2020 and our other reports filed from time to time with the Securities and Exchange Commission (the "SEC").
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