PALM BEACH, Florida, Feb. 26, 2020 /PRNewswire/ — We’re seeing a groundswell of interest for microgrids. All thanks to demand for resiliency, and far better energy security at all times. At the moment, the U.S. Department of Defense is moving forward on plans that could put scores of microgrids into DoD facilities throughout the U.S., reports CleanTechnica. In addition, the U.S. Navy just announced it is implementing a $58 million energy resiliency project at the Portsmouth Naval Shipyard (PNSY). Reportedly, the energy savings performance contract features on-site generation, battery storage, and microgrid controls to address the Navy’s priority of maximizing energy security at the Shipyard while reducing energy costs, says the Environment & Energy Leader. News such as this is creating sizable opportunity for companies such as CleanSpark, Inc. (NASDAQ: CLSK), HP Inc. (NYSE: HPQ), Sailpoint Technologies Holdings Inc. (NYSE: SAIL), Viasat Inc. (NASDAQ: VSAT), and TowerJazz (NASDAQ: TSEM).

CleanSpark, Inc. (NASDAQ: CLSK) BREAKING NEWS: CleanSpark, Inc., a diversified software development and intelligent energy services company, announced it has executed multiple contracts with long term customers which will result in excess of $1,100,000 in annual revenue. The services will be rendered by its recently acquired, wholly owned subsidiary, P2kLabs, Inc. CleanSpark’s Chief Revenue Officer, Amer Tadayon stated “Long-term service contracts are a staple of P2k Labs’ business model, and our customers’ commitment to annual agreements highlight their tremendous trust in our capabilities and services.” Zach Bradford CleanSpark’s CEO and President added, “We are pleased with the efforts of our new team and the resulting long-term reoccurring revenues these contracts provide CleanSpark. We continue to focus our efforts on high margin revenue streams which specifically include services and software sales. We are increasingly well positioned to reach profitability before the end of the calendar year.”

Other related developments from around the markets include:

HP Inc. (NYSE: HPQ) announced a multi-year strategic and financial value creation plan that is expected to deliver $3.25 to $3.65 non-GAAP diluted net EPS by 2022. This significant expected earnings growth is supported by HP’s market leadership and track record of execution across Personal Systems, Print, and 3D Printing & Digital Manufacturing, disciplined and sustained cost actions, as well as a new capital return program of approximately $16 billion during fiscal 2020 to fiscal 2022. Under this value creation plan, HP expects to generate $4.7 billion to $5.1 billion of non-GAAP operating profit in fiscal 2022; $10.7 billion to $11.7 billion of cumulative free cash flow in fiscal 2020 through fiscal 2022; and $1.2 billion structural cost reductions in fiscal 2022 with flow through to non-GAAP operating profit of approximately $650 million.

Sailpoint Technologies Holdings Inc. (NYSE: SAIL) unveiled new updates to the SailPoint Predictive Identity platform that gives customers a simplified way to define and deliver the right access to users no matter how quickly an organization evolves. The new SailPoint Access Modeling service speeds the creation of roles across the business, using Artificial Intelligence (AI) to identify similar groupings of users and access to suggest potential roles. With this new capability, SailPoint is dramatically simplifying the deployment and day-to-day management of a role-based identity governance program. This ensures that as any type of user joins or moves within the organization, their access rights evolve with them – automatically and without the overhead of traditional approaches to access modeling. “We live in a world where identity must adapt in near real-time to stay aligned with today’s dynamic business environment,” said Paul Trulove, Chief Product Officer. “By adding a predictive approach to access modeling, we’re helping companies to simplify and streamline how they create and update access models. These models define who can and should have access, based on their organizational role, job responsibilities and business needs, three areas that change constantly across the business.”

Viasat Inc. (NASDAQ: VSAT) announced financial results for the fiscal third quarter ended December 31, 2019. “We achieved another quarter of solid revenue growth and margin improvement in our Q3 of fiscal year 2020,” said Mark Dankberg, Viasat chairman and CEO. “We’re building on a differentiated foundation of business fundamentals in our government systems and satellite services segments. New contract awards and backlog signal continued momentum, and build confidence in a strong finish to our fiscal year 2020 and on into fiscal year 2021. We believe our unique vertical technology and service delivery integration creates compelling long-term opportunities for global expansion. Growth drivers for our government business are in the early innings and are substantially enhanced by global coverage. Our diverse portfolio of fixed and mobile broadband satellite services gives us the flexibility and resilience to thrive in the distinct market environments of each region of the world. We see enormous demand for bandwidth. We’re confident in our strategic approach and are focused on executing the opportunities before us, and delivering the ViaSat-3 constellation into service.”

TowerJazz (NASDAQ: TSEM) reported today its results for the full year and for the fourth quarter ended December 31, 2019. Revenues for 2019 were $1.23 billion as compared to $1.30 billion in 2018, reflecting $111 million non-organic revenue reduction (mainly as a result of the March 2019 announced Panasonic renewed contract), offset by $41 million year over year organic revenue growth (defined as total revenue excluding revenues from Panasonic and revenues from Maxim in the San Antonio fab), reflecting 5% organic revenue growth.  Gross and operating profits for 2019 were $230 million and $87 million, respectively, as compared to $293 million and $155 million, in 2018, respectively; EBITDA for 2019 was $299 million as compared to $362 million in 2018; Net profit for 2019 was $90 million, representing $0.84 diluted earnings per share, as compared to $136 million net profit, or $1.32 diluted earnings per share, in 2018. The margin decrease as compared to 2018 is mainly due to the above described reduction in the non-organic revenue components. Cash flow generated from operations in 2019 was $291 million, with $172 million investments in fixed assets, net, resulting in $119 million free cash flow. In 2019, the company repaid $19 million of its debt. In 2018, cash generated from operations was $313 million, with investment in fixed assets, net of $170 million, resulting in $143 million free cash flow. In 2018 the company repaid a net amount of $49 million of its debt.

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated thirty five hundred dollars for news coverage of current press releases issued by CleanSpark Inc., by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:
Media Contact email: [email protected] 
+1(561)325-8757

View original content:http://www.prnewswire.com/news-releases/department-of-defense-may-put-microgrids-in-facilities-throughout-us-301011385.html

SOURCE FinancialNewsMedia.com