Latest news with #Encore
Yahoo
4 days ago
- Business
- Yahoo
Anterix Inc (ATEX) Q4 2025 Earnings Call Highlights: Strong Cash Position and Strategic Growth ...
Contracted Proceeds: $116 million from spectrum sales agreements with Encore and LCRA. Milestone Payments: $44 million from Encore and $8.5 million from Amin. Additional Cash Received: $34 million from accelerated spectrum delivery. Cash Position: Over $47 million in cash at the end of Q4 FY25. Outstanding Contracted Proceeds: Approximately $150 million, with $80 million expected in fiscal '26. Operating Expense Reduction: $4 million reduction in operating expense run rate from the first half of fiscal '25. Debt: No debt reported. Warning! GuruFocus has detected 2 Warning Signs with ATEX. Release Date: June 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Anterix Inc (NASDAQ:ATEX) has successfully optimized its cost structure, resulting in a $4 million reduction in operating expenses, enhancing efficiency and cash flow. The company is oversubscribed on its $250 million accelerator program, indicating strong demand for its 900 megahertz LTE spectrum. Anterix Inc (NASDAQ:ATEX) has no debt and closed the fourth quarter with over $47 million in cash, providing a strong financial position. The company has contracted spectrum covering 93% of Texas counties, creating a replicable regional deployment model nationwide. Anterix Inc (NASDAQ:ATEX) has approximately $150 million in outstanding contracted proceeds, with $80 million expected in fiscal '26, providing clear visibility and confidence in future cash flow. The strategic review process led by Morgan Stanley is ongoing with no predetermined outcome, creating uncertainty about future strategic directions. There is potential competition from other spectrum choices, such as the 800 megahertz band, which could impact Anterix Inc (NASDAQ:ATEX)'s market position. The company's market cap is currently low, which may affect its ability to leverage financial markets for growth. The transition to a 5x5 megahertz offering is still in progress, which may delay some potential customers who require this capability. Despite strong demand, the utility industry's typically slow decision-making process could delay the realization of new contracts and revenue. Q: Can you provide more details on the oversubscription of the $250 million accelerator program? Are there multiple players involved, and how are customers approaching this? A: Scott Lang, CEO: We are very pleased with the response to the accelerator program, with over a dozen utilities participating. The demand for private LTE 900 megahertz is strong, and negotiations are active. The utilities are engaged and in discussions, which is remarkable progress for the utility industry within a single quarter. Q: Have utilities begun engaging with partners as part of the accelerator program? A: Scott Lang, CEO: Yes, other companies have participated in the program. Ryan Gerbrandt, COO, added that partners like Ericsson, Nokia, and GE have joined, offering bespoke products to support and accelerate utilities' decision-making processes. Q: How might the 5x5 megahertz opportunity affect utilities' decisions to join the program, especially if they require it for their launch? A: Scott Lang, CEO: Utilities have not hesitated to join with the current 3x3 offering, which is sufficient for their needs. They are excited about the 5x5 plan, which enhances their confidence in the current offering's capabilities. Q: What is the strategy if Grain Management acquires 800 megahertz spectrum and targets utilities in regions where you have spectrum? A: Scott Lang, CEO: We are confident in our position with 900 megahertz, proven deployments, and strong economics. While 800 megahertz could be an alternative, we believe we will remain the preferred choice for utilities due to our comprehensive offerings and market leadership. Q: Do you have a goal for how much you would like to add to your contracted proceeds in the next 12 to 18 months? A: Timothy Gray, CFO: Our internal goals are to grow from the $116 million achieved last year, our best year yet. We believe the accelerator program will help us achieve significant growth in contract proceeds, although we are not providing specific numbers. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Chicago Tribune
19-06-2025
- Business
- Chicago Tribune
Who should endorse nightclubs becomes topic during Waukegan City Council meeting
A number of Waukegan's 69 taverns or restaurants with bars offer their customers entertainment in one form or another but none of the establishments are nightclubs as defined by the city's Unified Development Ordinance (UDO) approved in a 6-3 vote of the City Council last July. Ald. Lynn Florian, 8th Ward, expressed concern at Monday's City Council meeting that Encore Events was about to receive a nightclub endorsement from Mayor Sam Cunningham. The ordinance gives him the sole right to approve an endorsement. Florian said Encore was denied a nightclub endorsement by the council last year. She and a majority of the colleagues did not think it was appropriate then and she has not changed her mind. 'My (8th Ward) residents overwhelmingly did not want a nightclub there due to the history of the previous nightclub. There was a murder in the parking lot. The fact that it's nestled in a neighborhood and we had approved an assisted living facility on the same property,' Florian said at the meeting. Cunningham has no intention of giving Encore or any other applicant a nightclub endorsement on its liquor license in Waukegan any time soon until he takes an in-depth look at how the UDO treats nightclubs. 'I'm going to hold off on any nightclub endorsements until we have a better understanding of who can and can't have them,' Cunningham said Tuesday. 'We have a new ordinance out there. We need to know the background of people asking for a nightclub endorsement.' Both under the former regulations before the UDO was enacted and the current rules, any business serving liquor — nightclub or not — needed a liquor license. Cunningham said the difference is a nightclub imposes a cover charge on all patrons while a tavern offering entertainment does not. By the time an individual operating a restaurant or bar receives a liquor license, Cunningham said, the person is thoroughly vetted before the City Council votes to approve or reject the application. The police department, as well as those responsible for reviewing business and liquor licenses, must approve. Before the UDO became law just under a year ago, Cunningham said someone who wanted a nightclub endorsement had to get a conditional use permit. The permit requires additional steps that are no longer necessary. In addition to getting a liquor license to serve alcoholic beverages, before the UDO, an applicant for a nightclub endorsement was required to make its case to the Waukegan Planning and Zoning Commission for a recommendation before the council took a vote. Florian said she thinks the City Council should have a say in whether a nightclub endorsement is granted to a business rather than leaving it to the mayor. She thinks a liquor commission, rather than the mayor — state law makes a mayor the liquor commissioner — should make the decisions. 'I believe this is something that should be the decision of the council,' Florian said. ' The alderman of the ward should have a say.' With the council already approving a liquor license for an individual seeking a nightclub endorsement, Cunningham said he is comfortable taking the information gleaned from the police, the fire department, business licensing, and the liquor staff and deciding whether or not to issue the endorsement.
Yahoo
13-06-2025
- Yahoo
Car taken at knifepoint on Central in Midtown: MPD
MEMPHIS, Tenn. — Police are looking for a 2025 Buick Encore taken from a driver at knifepoint at a Central Avenue gas station. MPD said it happened on June 6, just before 11 p.m., at the Mapco in the 2100 block of Central Avenue and Cooper Street. The victim said she was approached by a man armed with a knife. She said the man demanded her keys and fled the scene in her Encore. MPD has released images of a suspect described as being approximately 20 to 25 years old, standing between 5 feet 10 inches and 6 feet tall, and weighing around 170 pounds.. He was wearing a black Nike hat, a watch, a black t-shirt, khaki shorts, and white tennis shoes. He possibly has tattoos on both arms. Anyone with information about this incident is urged to call Crime Stoppers at 528-CASH. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Toronto Star
13-06-2025
- Business
- Toronto Star
‘My heart started pounding': Etobicoke consultant wins $65 million in Lotto Max jackpot
When Mohit Sharma scanned his Lotto Max ticket and saw the words 'Big Winner' flash across his phone screen, he could not believe it — so he put on his shoes and went for a walk. Then he came back, scanned it again, and saw the same thing. Sharma, a consultant from Etobicoke, is Ontario's newest multimillionaire, winning $65 million in October's Lotto Max jackpot, a game he began playing regularly in 2020 during the early days of the COVID-19 pandemic. What began as a small weekly ritual to have something to look forward to during the lockdowns has paid off, he said in a news release from the Ontario Lottery and Gaming Corporation. ARTICLE CONTINUES BELOW Over the past five years, Sharma has been purchasing Lotto Max and Lotto 6-49 tickets with a set budget, always adding Encore and relying on Quick Pick numbers. 'I don't pick the numbers, so, knowing that a random number that the lottery computer picked for me the winner — and my name was on that ticket — is just unbelievable!' he said. After hearing the news that the winning ticket was sold in Etobicoke, Sharma pulled a few tickets from a drawer and scanned them using the OLG app. 'I couldn't believe it and my heart started pounding,' he said. 'My phone screen lit up as the words 'Big Winner' flashed across the screen I thought to myself, 'I guess that person I heard about on the news was me!'' Instead of calling his family right away, Sharma waited until everyone was home so he could share the news face-to-face. 'To say they were shocked is an understatement,' he said. 'It was an emotional moment with lots of trembling hands and elevated heart rates all around.' ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW With the new-found financial freedom, Sharma says he is ready to make his dream of riding trains across the globe a reality. He has long admired the world's most iconic railways and intends to experience all of them, from the high-speed Shinkansen in Japan to the Indian Pacific that goes from Sydney to Perth, Australia. While the opportunity to ride trains across the world is what Sharma says 'will excite me the most!' the happiness he is sharing with his family is the best part of winning the jackpot. The next Lotto Max jackpot draw is Friday, with an estimated $20-million payout.
Hamilton Spectator
12-06-2025
- Business
- Hamilton Spectator
‘That person I heard about on the news was me': Ontario man claims $65-million Lotto Max prize
An Etobicoke man is planning a global adventure on some of the most luxurious trains after winning a massive $65-million lottery jackpot. Mohit Sharma has long been enamoured with the world's most famous and luxurious trains. Now, as Ontario's newest multimillionaire, his dreams of riding the rails will soon come true after claiming a Lotto Max jackpot of $65 million from the Oct. 15, 2024 draw. During a winner's celebration hosted by the Ontario Lottery and Gaming Corp. (OLG) in Toronto, Sharma noted he started buying lottery tickets in 2020 during the COVID-19 pandemic, giving himself a weekly routine to look forward to during the lockdowns. Setting a budget, he purchased Lotto Max and Lotto 6-49 tickets with Encore each week, using the OLG's quick pick feature. 'I don't pick the numbers, so, knowing that a random number that the lottery computer picked for me the winner — and my name was on that ticket — is just unbelievable,' Sharma said in a news release. Sharma, who works as a consultant, likes to check his lottery tickets soon after the draw. When he heard on the news that the winning Lotto Max ticket was sold in Etobicoke, he rushed to check the tickets he had stored in a drawer. 'The first ticket I scanned was the winner,' Sharma said. 'I couldn't believe it and my heart started pounding. My phone screen lit up as the words 'Big Winner' flashed across the screen I thought to myself, 'I guess that person I heard about on the news was me.'' Sharma was in the middle of cooking when he discovered he'd won the jackpot. In the intensity of the moment, he doesn't know how he had the clarity to turn off the stove before a fire started in his kitchen. Sharma went on a walk to clear his head. When he returned home, he scanned the ticket again, just to make sure he wasn't dreaming. He then began researching how to claim his prize and read about other big lottery winners. Not wanting to cause any anxiety for his family, Sharma decided to wait and tell them about his win in person. When the time finally came, Sharma gathered his family members together for the big reveal. 'To say they were shocked is an understatement,' he said. 'I had to pinch a couple of them to prove it was real. It was an emotional moment with lots of trembling hands and elevated heart rates all around.' Sharma wanted to share the news over a round of champagne, but the family didn't have proper champagne glasses. The only store still open was Walmart. 'So, we ran over to buy champagne glasses, and raised a glass to my good fortune. We finished the bottle together that night,' Sharma added. With the help of a financial team to manage his new-found wealth, Sharma is now planning to travel and take it easy. He's also exploring ways to give back to his community and support causes close to his heart. Sharma loves to read and learn, and is considering going back to school for another degree or diploma. As for rest and relaxation, he intends to tour the globe as a passenger on some of the world's most iconic trains. 'I have dreamt of travelling on these luxurious and exotic trains. I want to go to Japan to experience one of the world's fastest trains, The Shinkansen,' he added. 'I also want to travel on The Indian Pacific that goes from Sydney to Perth, Australia. The famous Orient Express is another on the top of my list, too.' Sharma also plans to see more of Canada aboard The Canadian, from Toronto to Vancouver. In addition, he plans to to ride The Caledonia Sleeper, which criss-crosses the United Kingdom. 'This is what will excite me the most,' he said. Sharma's winning Lotto Max ticket at Lakeshore Mini Mart on Lakeshore Boulevard West in Etobicoke. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
