CHICAGO--(BUSINESS WIRE)--Exelon today announced the release of its Environmental, Social and Governance Report (ESG) for investors as part of the company’s ongoing commitment to transparency on its corporate social responsibility strategy and performance. The report highlights Exelon’s efforts to address the climate crisis and build a cleaner, more resilient energy grid; foster diversity, equity and inclusion both within the company and externally; conduct its business ethically and in compliance with governance best practices; and create economic opportunity and empower customers and communities through educational programs, support for nonprofits and workforce development programs, among other things. This investor report complements the Exelon Corporate Sustainability Report, issued annually since 2002.

“These values have been at the core of our business since our company’s founding, when we launched a strategy to build the nation’s cleanest power generation fleet, create a workforce that reflects our communities, operate responsibly and transparently, and partner with the organizations working to make a more equitable and just world,” said Chris Crane, president and CEO of Exelon. “We have always been committed to doing what is right for our employees, customers and communities, and this report helps us track our progress and hold ourselves accountable.”

The report outlines Exelon’s record as the nation’s largest producer of carbon-free energy and its strong advocacy for state and federal energy policies that eliminate emissions from the energy sector. The report also notes the company’s recognition as a top employer for diversity by Human Rights Campaign, Diversity Inc. and Forbes Magazine, and details its strong governance structure, including the implementation of four new ethics policies that expand oversight over the company’s interactions with public officials. The report also highlights that Exelon:

• Is driving a zero-carbon transition through its $20 million Climate Change Investment Initiative (2c2i^SM) targeting investments in emerging electrification, storage, and energy capture technologies
• Helped utility customers save more than 22.3 million megawatt-hours of electricity through its energy efficiency programs
• Working to electrify 30 percent of its utility vehicle fleet (light and heavy-duty) by 2025 and 50% by 2030
• Sponsors more than 45 workforce development programs to address economic inequities in our communities
• Gave more than $51 million in charitable contributions and nearly 251,000 employee volunteer hours in 2019
• Implemented an effective COVID-19 response, including additional safeguards and benefits for employees, temporary late fee and disconnection moratoriums and financial assistance programs for customers and $7.9 million of charitable donations in our communities
• Has a gender and racially diverse board of directors that is made up of 92 percent independent directors
• Has an Executive Committee that is 50 percent women or people of color

Exelon’s 2020 ESG report will be updated concurrent with the release of the company’s Corporate Sustainability Report, issued annually in the second quarter of the year.

Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia, and Canada and had 2019 revenue of $34 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey, and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector, and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.

Paul Adams
Corporate Communications
410-470-4167
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The company is designated one of the Best Places to Work for LGBTQ Equality in the Human Rights Campaign Foundation’s annual assessment.

HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) today announced it has received a perfect score of 100 on the Corporate Equality Index, the nation's foremost benchmarking survey and report measuring workplace equality for lesbian, gay, bisexual, transgender and queer employees.

“This recognition means a lot to us at Phillips 66,” said Phillips 66 Senior Vice President of Human Resources and Corporate Communications Sonya Reed. “We're always striving to do right by our people — to listen intently, to build a workplace where everyone feels a sense of belonging and purpose. It's a journey, and this reminds us to pause and celebrate our progress — and then keep pushing forward.”

The Corporate Equality Index is administered by the Human Rights Campaign Foundation, the educational arm of America’s largest civil rights organization working to achieve equality for LGBTQ people. Companies rated in the CEI include the country’s largest publicly traded businesses, and hundreds of publicly and privately held mid- to large-sized businesses.

Phillips 66 received the designation of one of the Best Places to Work for LGBTQ Equality by satisfying the CEI’s criteria that reflect best practices for LGBTQ inclusion. Those criteria fall under four central pillars:

• Nondiscrimination policies across business entities.
• Equitable benefits for LGBTQ workers and their families.
• Supporting an inclusive culture.
• Corporate social responsibility.

Phillips 66 has undertaken a multipronged approach to building an inclusive workplace designed to enable the company’s diverse talents to innovate, create value and achieve excellence. It starts with a competitive benefits package that extends to domestic partners and offers transgender-inclusive health care coverage. It is furthered by the company's eight Employee Resource Groups, which help give employees across all locations a sense of belonging and support. The Phillips 66 Executive Inclusion and Diversity Council, which is chaired by Phillips 66 Chairman and CEO Greg Garland, illustrates the company’s commitment at the highest levels.

The full CEI report is available online at www.hrc.org/cei.

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,300 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of Dec. 31, 2020. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

Allison Stowe, 855-841-2368 (Corporate Communications)
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RUSSELL, Kan.--(BUSINESS WIRE)--#ATAC--Warren H. Gfeller of Russell, Kansas has been appointed by The Office of the United States Trade Representative (USTR) to serve on the Agricultural Technical Advisory Committee (ATAC) for Animal and Animal Products. The ATAC advises the USTR and Secretary of Agriculture on international trade matters relevant to U.S. agriculture.

Mr. Gfeller is owner and operator of Stranger Valley Ranch, a commercial cow/calf operation that runs 800+ cows on 10,000+ acres in Russell County, Kansas. The ranch is a progressive operation that is focused on added value, sustainability and quality assurance.

“I am honored to have been appointed to serve on the Agricultural Technical Advisory Committee,” said Mr. Gfeller. “I look forward to representing the interests of livestock producers across the U.S. in international trade negotiations.”

A native of Russell, Kansas, Mr. Gfeller had an extensive corporate career before returning to Russell to oversee the ranching operation. He has served as CEO and CFO of public companies involved in domestic and international business, and as a member of boards of directors for companies in various industries, many of which have international operations. From 1983 to 1991 Mr. Gfeller serviced as President, CEO and a Director for Ferrellgas, Inc. which, under his leadership, grew to the second largest U.S. supplier of propane gas and related services.

Mr. Gfeller, who is a member of the National Association of Corporate Directors, currently serves on the boards of directors for Crestwood Equities Partners LP (NYSE: CEQP), HC2Holdings, Inc. (NYSE: HCHC), Gardner Bancshares, Inc. and the Dane G. Hansen Foundation. Past board memberships include Global Marine Holdings, Inergy LP (NYSE: NRGY), and Zapata Corp. (NYSE: ZAP).

An active member of the National Cattlemen’s Beef Association and the Kansas Livestock Association, Mr. Gfeller has been involved over the years with several agricultural-related companies including beef packing and processing, beef verification and certification products, manufactured equipment and livestock production.

In 2020 Mr. Gfeller was appointed a Commissioner of the Kansas Department of Wildlife, Parks and Tourism, a cabinet-level appointment. He has been an active board member of the Kansas Wildscape Foundation since 1992, including serving as Chairman.

Mr. Gfeller — a Kansas State University graduate — will serve on the ATAC Committee until 2025. The Office of the USTR is responsible for developing and coordinating U.S. international trade, commodity, and direct investment policy, and overseeing negotiations with other countries.

Debbie Hagen
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913.642.6363

Quarterly revenues increased 32 percent year-over-year to $150.7 million; GAAP earnings were $0.45 per diluted share; non-GAAP earnings were $0.60 per diluted share

Full-year revenues grew 16 percent to $488.3 million; cash flow from operations was $125.6 million; quarterly dividend increases by 18 percent to $0.13 per share

SAN JOSE, Calif.--(BUSINESS WIRE)--Power Integrations (Nasdaq: POWI) today announced financial results for the quarter and year ended December 31, 2020. Per-share measures for all periods have been adjusted for the 2:1 stock split effected as a stock dividend in August 2020.

Net revenues for the fourth quarter of 2020 were $150.7 million, up 24 percent compared to the prior quarter and up 32 percent from the fourth quarter of 2019. Net income for the fourth quarter was $27.3 million or $0.45 per diluted share compared to $0.24 per diluted share in the prior quarter and $2.64 per diluted share in the fourth quarter of 2019. Results for the fourth quarter of 2019 included a benefit of $2.39 per diluted share from a patent-litigation settlement. Cash flow from operations for the fourth quarter was $46.4 million.

In addition to its GAAP results, the company provided certain non-GAAP measures that exclude stock-based compensation, amortization of acquisition-related intangible assets and the tax effects of these items. Non-GAAP net income for the fourth quarter of 2020 was $36.4 million or $0.60 per diluted share compared with $0.40 per diluted share in the prior quarter and $2.80 per diluted share in the fourth quarter of 2019 (which included the benefit of $2.39 per share from the litigation settlement). A reconciliation of GAAP to non-GAAP financial results appears at the end of this press release.

Full-year net revenues were $488.3 million, up 16 percent compared to 2019. Net income was $71.2 million or $1.17 per diluted share, compared to $3.24 per diluted share in 2019. Non-GAAP net income for the full year was $103.5 million or $1.70 per diluted share, compared to $3.69 per diluted share in 2019. (Both GAAP and non-GAAP net income for 2019 included a benefit of $2.41 per share from the settlement.) Full-year cash flow from operations for 2020 was $125.6 million.

Commented Balu Balakrishnan, president and CEO of Power Integrations: “Fourth-quarter revenues came in well above our expectations driven by broad-based demand. All four major end-market categories grew at double-digit rates compared to the prior quarter, and distribution sell-through once again exceeded sell-in. We achieved revenue growth of 16 percent in 2020—far above the rate of the analog semiconductor industry—and we are well positioned for continued growth in 2021.”

Power Integrations paid a cash dividend of $0.11 per share on December 31, 2020. The company’s board of directors has increased the quarterly dividend to $0.13 per share, with the next dividend to be paid on March 31, 2021 to stockholders of record as of February 26, 2021.

Financial Outlook

The company issued the following forecast for the first quarter of 2021:

• Revenues are expected to be flat compared to the fourth quarter of 2020, plus or minus five percent.
• GAAP gross margin is expected to be approximately 48 percent, and non-GAAP gross margin is expected to be approximately 49 percent. (The difference between the expected GAAP and non-GAAP gross margins comprises approximately 0.6 percentage points from amortization of acquisition-related intangible assets and 0.4 percentage points from stock-based compensation.)
• GAAP operating expenses are expected to be approximately $44.5 million; non-GAAP operating expenses are expected to be approximately $37.5 million. (Non-GAAP expenses are expected to exclude approximately $6.8 million of stock-based compensation and $0.2 million of amortization of acquisition-related intangible assets.)

Conference Call Today at 1:30 p.m. Pacific Time

Power Integrations management will hold a conference call today at 1:30 p.m. Pacific time. Members of the investment community can register for the call by visiting the following link: http://www.directeventreg.com/registration/event/4278028. A webcast of the call will also be available on the investor section of the company's website, http://investors.power.com.

About Power Integrations

Power Integrations, Inc. is a leading innovator in semiconductor technologies for high-voltage power conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts. For more information please visit www.power.com.

Note Regarding Use of Non-GAAP Financial Measures

In addition to the company's consolidated financial statements, which are presented according to GAAP, the company provides certain non-GAAP financial information that excludes stock-based compensation expenses recorded under ASC 718-10, amortization of acquisition-related intangible assets, and the tax effects of these items. The company uses these measures in its financial and operational decision-making and, with respect to one measure, in setting performance targets for compensation purposes. The company believes that these non-GAAP measures offer important analytical tools to help investors understand its operating results, and to facilitate comparability with the results of companies that provide similar measures. Non-GAAP measures have limitations as analytical tools and are not meant to be considered in isolation or as a substitute for GAAP financial information. For example, stock-based compensation is an important component of the company’s compensation mix, and will continue to result in significant expenses in the company’s GAAP results for the foreseeable future, but is not reflected in the non-GAAP measures. Also, other companies, including companies in Power Integrations’ industry, may calculate non-GAAP measures differently, limiting their usefulness as comparative measures. Reconciliations of non-GAAP measures to GAAP measures are attached to this press release.

Note Regarding Forward-Looking Statements

The above statements regarding the company’s forecast for its first-quarter financial performance and being well-positioned for growth in 2021 are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with the company's business, actual results could differ materially from those projected or implied by these statements. These risks and uncertainties include, but are not limited to: the impact of the COVID-19 pandemic on demand for the company’s products, its ability to supply products and its ability to conduct other aspects of its business such as competing for new design wins; changes in global macroeconomic conditions, including changing tariffs and uncertainty regarding trade negotiations, which may impact the level of demand for the company’s products; potential changes and shifts in customer demand away from end products that utilize the company's integrated circuits to end products that do not incorporate the company's products; the effects of competition, which may cause the company’s revenues to decrease or cause the company to decrease its selling prices for its products; unforeseen costs and expenses; and unfavorable fluctuations in component costs or operating expenses resulting from changes in commodity prices and/or exchange rates. In addition, new product introductions and design wins are subject to the risks and uncertainties that typically accompany development and delivery of complex technologies to the marketplace, including product development delays and defects and market acceptance of the new products. These and other risk factors that may cause actual results to differ are more fully explained under the caption “Risk Factors” in the company's most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission (SEC) on February 7, 2020, and most recent Quarterly Report on Form 10-Q, filed with the SEC on October 29, 2020. The company is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

Power Integrations and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc.

Joe Shiffler
Power Integrations, Inc.
(408) 414-8528
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STAMFORD, Conn.--(BUSINESS WIRE)--Crane Co. (NYSE:CR) will hold its annual investor conference virtually on Thursday, February 25, 2021, from 9:00 AM to 11:00 AM (Eastern). Speakers will include Max H. Mitchell and other key Crane Co. executives. Interested parties may listen to a simultaneous webcast of this event through the Company’s website www.craneco.com. A web replay will be available on our website shortly after completion of the event.

Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers in the chemicals, oil & gas, power, automated payment solutions, banknote design and production and aerospace & defense markets, along with a wide range of general industrial and consumer related end markets. The Company has four business segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics and Engineered Materials. Crane Co. has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.

Jason D. Feldman
Vice President, Investor Relations
203-363-7329
www.craneco.com

Founder and CEO Jeff Bezos will transition to role of Executive Chair in Q3, Andy Jassy to become Chief Executive Officer of Amazon at that time

SEATTLE--(BUSINESS WIRE)--Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its fourth quarter ended December 31, 2020.

• Operating cash flow increased 72% to $66.1 billion for the trailing twelve months, compared with $38.5 billion for the trailing twelve months ended December 31, 2019.
• Free cash flow increased to $31.0 billion for the trailing twelve months, compared with $25.8 billion for the trailing twelve months ended December 31, 2019.
• Free cash flow less principal repayments of finance leases and financing obligations increased to $20.3 billion for the trailing twelve months, compared with $16.2 billion for the trailing twelve months ended December 31, 2019.
• Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations increased to $21.4 billion for the trailing twelve months, compared with $12.5 billion for the trailing twelve months ended December 31, 2019.
• Common shares outstanding plus shares underlying stock-based awards totaled 518 million on December 31, 2020, compared with 512 million one year ago.

Fourth Quarter 2020

• Net sales increased 44% to $125.6 billion in the fourth quarter, compared with $87.4 billion in fourth quarter 2019. Excluding the $1.7 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 42% compared with fourth quarter 2019.
• Operating income increased to $6.9 billion in the fourth quarter, compared with operating income of $3.9 billion in fourth quarter 2019.
• Net income increased to $7.2 billion in the fourth quarter, or $14.09 per diluted share, compared with net income of $3.3 billion, or $6.47 per diluted share, in fourth quarter 2019.

Full Year 2020

• Net sales increased 38% to $386.1 billion, compared with $280.5 billion in 2019. Excluding the $1.4 billion favorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 37% compared with 2019.
• Operating income increased to $22.9 billion, compared with operating income of $14.5 billion in 2019.
• Net income increased to $21.3 billion, or $41.83 per diluted share, compared with net income of $11.6 billion, or $23.01 per diluted share, in 2019.

Amazon is also announcing today that Jeff Bezos will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy will become Chief Executive Officer at that time.

“Amazon is what it is because of invention. We do crazy things together and then make them normal. We pioneered customer reviews, 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more,” said Jeff Bezos, Amazon founder and CEO. “If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”

Highlights

Investing in Employee Safety and Providing Good Jobs

• Amazon is working to ensure that its front-line employees receive vaccines as soon as possible. The company is closely monitoring the availability of COVID-19 vaccines worldwide, advocating on behalf of its employees, and working in partnership with global medical experts, governments, and health providers to accelerate vaccination programs.
• Amazon continues to ramp up its in-house COVID-19 testing program as part of its investments to keep front-line employees safe. More than 700 employees are now tested every hour, and Amazon’s dedicated COVID-19 labs have processed more than one million tests globally.
• Amazon recognized front-line employees by investing $2.5 billion in additional pay in 2020. This is on top of the company’s industry-leading starting wage of at least $15 an hour, which is double the federal minimum wage. All full-time employees also receive healthcare and full benefits from their first day on the job.
• Amazon received the Lee Anderson Veteran and Military Spouse Employment Award for excellence in hiring, training, and retaining veterans, transitioning service members, and military spouses. Amazon employs more than 40,000 veterans and military spouses across the U.S.

Supporting Communities

• Amazon announced a new Housing Equity Fund, a $2 billion commitment to preserve and create over 20,000 affordable housing units in Washington State’s Puget Sound region; Arlington, Virginia; and Nashville, Tennessee. The Fund provides below-market loans and grants to housing partners, public agencies, and minority-led organizations. It started with initial investments totaling $567 million for 2,300 affordable apartment homes.
• Amazon announced plans to provide free cloud skills training to 29 million people around the world by 2025, as it continues to invest in upskilling and career development for its customers and employees. The AWS-designed programs range from self-paced online courses to intensive upskilling programs that help participants build new careers in the technology industry. This expands on Amazon’s Upskilling 2025 initiative, a $700 million commitment to upskill 100,000 U.S. employees by helping them transition into high-demand, high-paying jobs, as well as Career Choice, a program that pre-pays tuition for employees looking to earn degrees in in-demand fields.
• Amazon unveiled plans for the second phase of construction for its headquarters in Arlington, Virginia. Amazon plans to build 2.8 million square feet of office space as part of its commitment to create 25,000 jobs and invest $2.5 billion in the community over the next decade. The project will create more than 2.5 acres of open space for the local community, run on renewable energy, and bring retail and other services to local residents.
• Amazon in the UK expanded its long-standing partnership with nonprofit Magic Breakfast to reach more children at risk of hunger. In addition to being a significant financial donor, Amazon distributed more than two million free, healthy breakfasts to children studying at home due to COVID-19 who would normally receive these meals at school.
• In the UK, Amazon delivered more than six million COVID-19 testing kits free of charge, in support of the government’s COVID-19 testing program.
• Globally, Amazon has donated over 65,000 Echo devices, Fire Tablets, and other devices throughout the COVID-19 crisis to organizations that support frontline workers and first responders, and to help keep patients, students, and communities impacted by the pandemic connected.
• In support of World AIDS Day and Giving Tuesday, Amazon announced the limited-edition (echo)^RED. Available in the all-new spherical design, (echo)^RED offers premium sound and a built-in smart home hub. Amazon will donate $10 of every (echo)^RED sale to support (RED)’s fight against AIDS and COVID-19 in sub-Saharan Africa. Customers can also donate to (RED)’s fight against the COVID-19 and HIV/AIDS pandemics on any Alexa-enabled device by simply saying, “Alexa, donate to RED.”
• Ring announced a new program with Habitat for Humanity, a global nonprofit that shares Ring’s commitment to help make homes and neighborhoods safer, including a donation of $1 million worth of Ring Video Doorbells to provide Habitat homeowners with added peace of mind.

Protecting the Planet

• Amazon became the world’s largest corporate purchaser of renewable energy, taking another step in its journey to be net-zero carbon by 2040. The company is investing in the building of 26 new utility-scale wind and solar projects in Australia, France, Germany, Italy, South Africa, Sweden, the UK, and the U.S., bringing Amazon’s total number of renewable energy projects to 127. Amazon’s investments will supply its operations with more than 18,000 gigawatt hours (GWh) of renewable energy annually, helping put the company on a path to achieve 100% renewable energy by 2025, five years ahead of the initial 2030 target.
• Thirty-one organizations have signed The Climate Pledge, a commitment co-founded by Amazon and Global Optimism to achieve net-zero carbon by 2040. Twenty of those companies signed The Climate Pledge last quarter: Atos, Boom Supersonic, Brooks, Cabify, Canary Wharf Group, Coca-Cola European Partners, ERM, Groupe SEB France, Harbour Air, Henkel, ITV, JetBlue, Microsoft, Neste, Rivian, Rubicon, Signify, Uber, Unilever, and Vaude.
• Amazon joined the Food Loss and Waste 2030 Champions group, an effort by the U.S. Environmental Protection Agency and Department of Agriculture to reduce food loss and waste within U.S. company operations by 50% by 2030.
• Amazon expanded Climate Pledge Friendly, a program to help customers discover and shop for more sustainable products, in five countries across Europe. The program launched with over 40,000 Climate Pledge Friendly products in France, Germany, Italy, Spain, and the UK.

Empowering Small and Medium-Sized Businesses

• The 2020 holiday season was the best ever for independent businesses selling on Amazon—nearly all of which are small and medium-sized businesses—with worldwide sales growing over 50% compared to the same period in 2019. Sellers surpassed $4.8 billion in worldwide sales from Black Friday through Cyber Monday, growing about 60% from the previous year. During the holiday season as a whole, small and medium-sized businesses in the U.S. sold nearly one billion products in Amazon’s store.
• Since the start of the COVID-19 pandemic, Amazon has incurred more than $5 billion in operational costs on behalf of independent businesses selling in Amazon’s store, and expects to invest billions more through 2021. In 2020, Amazon increased square footage across its fulfillment and logistics network by 50%, dedicated 60% of fulfillment center capacity to seller products, and postponed annual selling fee adjustments until June 2021.
• As part of the AWS Activate program, Amazon provided more than $1 billion in AWS credits during 2020 to help early stage startups launch their businesses and accelerate their growth. With this help, startups are using scalable, reliable, and secure cloud services like compute, storage, database, analytics, Internet of Things, machine learning, and many others from AWS to scale their businesses.
• Amazon launched small business accelerator programs across Europe to help entrepreneurs and small businesses succeed in the digital world. These programs offer free access to online training, expert advice, live events, and services, and they include the Amazon Small Business Accelerator in the UK, Quickstart-Online in Germany, Despega in Spain, Accelera con Amazon in Italy, and Accelerateur du Numerique in France. The programs are delivered in collaboration with associations and universities, and they have already supported tens of thousands of small businesses.
• In December, Amazon India hosted Small Business Day, an event to increase visibility and sales for entrepreneurs and small businesses selling in Amazon’s store. Over 55,000 sellers from over 4,000 Postal Index Codes benefitted from Small Business Day, and over 1,500 sellers had their highest ever day of sales on Amazon.
• In 2020, thousands of independent authors earned more than $50,000 through Kindle Direct Publishing, with more than 1,000 authors surpassing $100,000 in royalties.
• In 2020, authors using Amazon’s self-publishing service Kindle Direct Publishing (KDP) earned more than $370 million in royalties from their participation in Kindle Unlimited. KDP authors have earned more than $1.5 billion from participation in Kindle Unlimited since 2014.

Shopping and Entertainment

• Thanks to customers, employees, and selling partners, Amazon had a record-breaking holiday season, delivering more than a billion toys, home, fashion, electronics, beauty, and personal care products to customers worldwide.
• Amazon Pharmacy launched in the U.S., bringing prescription medications to customers’ doorsteps. Customers can now browse medications, create a secure pharmacy profile, and request or manage prescriptions on Amazon.com. Prime members receive unlimited, free two-day delivery on Amazon Pharmacy orders with their membership.
• Amazon launched a new Amazon Prime prescription savings benefit, which brings pharmacy savings to customers who pay without insurance and can be used at 50,000 participating pharmacies nationwide.
• Amazon Fashion introduced Made For You, a way for customers to design custom T-shirts to their exact measurements and style preferences. For just $25, U.S. shoppers can customize a T-shirt’s fit, fabric, color, sleeve length, shirt length, neckline, and back-neck label.
• Amazon India’s Great Indian Festival shopping event focused on enabling the revival of small and medium-sized businesses and helping customers, even in remote areas of the country, shop safely and conveniently from their homes. During the month-long event, customers purchased items from over 110,000 sellers, the majority of whom were from rural towns.
• Hudson, a travel experience leader with over 1,000 stores across North America, announced it will use Amazon’s Just Walk Out technology in select travel convenience stores. Just Walk Out technology enables shoppers to enter a store, grab what they want, and just go. The first Hudson store with Just Walk Out technology is planned to open in early 2021 at Dallas Love Field Airport, with additional stores coming later this year.
• Amazon Fresh grocery stores expanded into seven new communities in the U.S.: Irvine, CA; Ladera Heights, CA; Naperville, IL; North Hollywood, CA; Northridge, CA; Schaumburg, IL; and Whittier, CA. To support the continued growth, Amazon is hiring thousands of grocery associates across Chicagoland, the greater Los Angeles area, and Seattle.
• Amazon was identified as the best overall grocery retailer by dunnhumby Retailer Preference Index that ranks the top 57 grocery retailers in the U.S. based on an annual survey of 10,000 U.S. households. The survey also placed Amazon at the top of the list for customer safety ratings.
• Amazon Music signed an agreement to acquire innovative podcast publisher, Wondery. Through this acquisition, Amazon Music aims to accelerate the growth and evolution of podcasts by bringing creators, hosts, and immersive experiences to even more listeners across the globe. Wondery will be able to provide more high-quality, innovative content, continuing their mission of bringing a world of entertainment and knowledge to their audiences, wherever they listen. The acquisition is not yet closed and is subject to customary closing conditions.
• Prime Video continues to launch Amazon Original series and movies globally. Amazon Original movie Borat Subsequent Moviefilm, starring Sacha Baron Cohen, generated tens of millions of customer streams globally on opening weekend. Other popular Amazon Original movies include Uncle Frank, Sylvie’s Love, Sound of Metal, and I’m Your Woman. Prime Video members also enjoyed new and returning Amazon Original series and specials such as What the Constitution Means to Me, Utopia, Truth Seekers, The Pack, Small Axe, The Wilds, The Expanse, Yearly Departed, and the final season of Vikings. Internationally, locally produced Amazon Originals debuting included FERRO (Italy), El Cid (Spain), The Challenge: ETA (Spain), BILD.Macht.Deutschland? (Germany), Binge Reloaded (Germany), Truth Seekers (UK), The Grand Tour: A Massive Hunt (UK), All or Nothing: Tottenham Hotspur (UK), The Bachelorette (Japan), Mirzapur (India), and Locas por el Cambio (Mexico).
• The fourth quarter marked Prime Video’s strongest viewership for live sports globally. In the U.S., Prime Video’s exclusive coverage of the San Francisco 49ers vs. Arizona Cardinals game on December 26 drew an estimated 11.2 million total viewers and delivered the highest digital average-minute-audience ever for an NFL regular season game. In the UK, the number of customers tuning into live Premier League football grew for the second season as millions watched 22 live and exclusive matches on Prime Video. In addition, millions of Prime members streamed live, international rugby for the first-ever Autumn Nations Cup tournament; and in India, Prime Video announced its first foray into live sports, with the acquisition of India territory rights for New Zealand Cricket through 2025-26.
• Amazon Studios announced deals for upcoming Prime Video series and movies, including the Eddie Murphy comedy Coming 2 America, which premieres in March on Prime Video globally and an unscripted docuseries and new coming-of-age series based on Jessica Simpson’s best-selling memoir Open Book.

Amazon Devices and Services

• Amazon announced that Fire TV now reaches more than 50 million monthly active users around the world. Amazon also secured new content deals with premium streaming providers, including HBO Max, discovery+, and Xfinity in the U.S.; Disney+ in Mexico and Brazil; NOW TV in the UK; and CANAL+ in France. The new Fire TV Experience released globally includes a redesigned Home Screen, Profiles, and a new voice-first experience with Alexa to easily discover content.
• Zoox revealed the first look at their fully functional, electric, autonomous vehicle, which features bi-directional driving and is capable of speeds up to 75 miles per hour.
• Amazon announced Alexa Custom Assistant, a new service that lets device makers, auto makers, and service providers create custom-branded voice assistants that are powered by and work in cooperation with Alexa. The Alexa Custom Assistant can be built into automobiles and consumer electronics, including smart displays, speakers, set top boxes, fitness devices, and more, providing a complete, managed voice solution that substantially reduces cost, complexity, and time to market.
• Amazon continued to make progress on Project Kuiper, a low earth orbit satellite constellation that will increase broadband access for unserved and underserved communities around the world. In December, the team revealed designs for the Ka-band phased array antenna that will be used in its customer terminal. The antenna is smaller and lighter than legacy designs, allowing Amazon to produce a customer terminal that is more affordable and easier to install.
• Ring introduced general availability of its new Mailbox Sensor to customers, launched Customizable Motion Zones for all battery-powered Ring Video Doorbells and Security Cameras, and became the first major smart home security company to offer Video End-to-End Encryption. Additionally, Ring announced Ring Video Doorbell Wired, its smallest doorbell yet, and availability of the Ring Alarm in Spain.
• Amazon took another step toward making interactions with Alexa more natural, and skills more discoverable, by introducing a new capability that infers customers’ latent goals—goals that are implicit in customer requests but not directly expressed—and seamlessly transitions to a relevant skill without requiring the name of the skill, or repeating the same information across skills.
• Key by Amazon’s In-Garage Delivery service expanded to tens of millions of Prime members in over 4,000 cities in the U.S., enabling them to enjoy free, contactless, and secure package delivery conveniently inside their garage to keep packages safe.
• Amazon announced the first Alexa built-in commercial trucking integration in Volvo Trucks in the EU; the first integration in Brazil with BMW’s BMWi and MINI cars; and new vehicle launches with Dodge Durango, Chrysler Pacifica, Fiat 500 electric, and Acura MDX. Additionally, new Alexa integrations were announced at the Consumer Electronics Show (CES), including Harman, Intel, Lenovo, TP-Link, Rise Gardens, and more.
• Alexa added Netflix to its global roster of streaming service providers for Echo Show customers, giving them more at-home entertainment options. Amazon also added podcast support to Alexa from services like Amazon Music, Apple, and Spotify in more countries around the world.
• Alexa became more multilingual, allowing members of a household to interact with Alexa in two different languages without needing to change the settings. In the U.S., multilingual mode allows bilingual customers to code-switch from English to Spanish, and vice versa. Amazon also launched multilingual mode in new languages and countries including Germany, Spain, France, Italy, and Japan.
• Amazon added new Alexa features that make customers’ daily lives more convenient, including the ability to share a shopping list with Alexa contacts by voice, video calling on Fire TV, and new Alexa Routines on Fire TV.

Amazon Web Services

• AWS announced significant customer momentum during the quarter with new commitments and migrations spanning major industries, including financial services with JPMorgan Chase, Itaú Unibanco (Latin America’s largest bank), Standard Chartered Bank, and Nationwide; media and entertainment with Metro-Goldwyn-Mayer (MGM), Thomson Reuters, and ViacomCBS; technology with Arm and Twitter; travel with Boom Technology, Inc. (Boom Supersonic) and Star Alliance (the world’s largest airline alliance); retail and e-commerce with Mercado Libre (Latin America’s largest online commerce and payments provider) and Zalando (Europe’s largest online fashion and lifestyle platform); power and utilities with Siemens Smart Infrastructure (a Siemens AG business group that focuses on energy distribution and intelligent buildings); and automotive with The BMW Group, as well as a multi-year, global agreement to develop and market BlackBerry’s Intelligent Vehicle Data Platform, IVY.
• At AWS re:Invent, Amazon’s ninth-annual learning conference for the global cloud computing and information technology communities, AWS attracted over 570,000 registered attendees and announced 180 new services and features, including:
  • The industry’s first cloud-based Mac instances (EC2 Mac instances for Amazon Elastic Compute Cloud) that enable customers to develop, scale, and run macOS workloads in AWS.
  • Five new services that push the envelope on price performance and extend Amazon EC2’s lead as the broadest and deepest portfolio of compute instances in the cloud, including Graviton2-powered C6gn instances that provide 40% better price performance for networking and compute-intensive workloads over comparable current generation x86-based instances, AMD-powered G4ad Graphics Processing Unit (GPU) instances that offer the industry’s best price performance for graphics-intensive applications, M5zn instances that deliver the fastest Intel Xeon Scalable processors in the cloud, Intel-powered D3/D3en instances that offer the highest storage capacity for local HDD storage in the cloud, and memory-optimized R5b instances that deliver the fastest block storage performance available for Amazon EC2.
  • Nine new capabilities for Amazon SageMaker that make it even easier for developers and data scientists to prepare, build, train, deploy, and manage machine learning models.
  • Five new services for industrial customers that use machine learning to improve operational efficiency, quality control, security, and workplace safety. Amazon Monitron and Amazon Lookout for Equipment use sensor data to enable predictive maintenance.

Amazon Investor Relations
Dave Fildes, This email address is being protected from spambots. You need JavaScript enabled to view it.
amazon.com/ir

Amazon Public Relations
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amazon.com/pr

The name change marks growth in modular, pipe fabrication and plate products capabilities

HOUSTON--(BUSINESS WIRE)--#SBfabservices--S&B Fabrication Services, Ltd. announced its name change from S&B Modular Operations, marking a continued strengthening of its modular assembly services and pipe fabrication and steel plate product growth for engineering and construction, oil and gas, renewables, power and other sectors.

“Our name change reflects our growing capabilities, yet our values remain unaffected,” said Darren Parnell, President of S&B Fabrication Services. “We will continue to work with our clients to improve safety, quality and productivity, enhance cost predictability and speed up construction schedules as demand for offsite construction and assembly increases.”

S&B Fabrication Services offers modular assembly, pipe fabrication, pipe supports, plate shoes, lifting lugs and other steel plate products. Located in Baytown, Texas, its state-of-the-art fabrication and assembly facility sits on 54 acres. The facility’s advanced technologies include X-ray bays that utilize computed radiography technology, nuclear analyzers for positive material identification, a CLOOS robotic welding system, a state-of-the-art plasma-pipe cutting system, a 100-ton mobile gantry crane for lifting modules and heavy equipment, as well as SpoolGen software for spool extraction directly from client’s isometric drawings via PCF or IDF files.

“No longer a subsidiary of S&B Engineers and Constructors, S&B Fabrication Services operates independently to ensure our client’s job goes out on time and budget, as we thrive on being one of the nation’s leading pipe fabricators and modular assembly companies,” said Parnell.

About S&B Fabrication Services

S&B Fabrication Services, Ltd. provides high-tech modular assembly, pipe fabrication, pipe supports, plate shoes, lifting lugs and other steel plate products for engineering and construction, energy, renewables, power, pulp and paper and other sectors. The company’s operations in Baytown, Texas, offer a 50,000-square-foot pipe fabrication shop with a capacity of up to 2,000 pipe spools per month, 27,000 square feet of modular fabrication capabilities and 40 acres of modular assembly space. The facility’s advanced technologies include X-ray bays, robotic welding, metering skids, a plasma-cutting system and a mobile gantry for lifting and heavy loading equipment.

Lindsay Szeszycki, S&B Director of Communications and Marketing
This email address is being protected from spambots. You need JavaScript enabled to view it.
518.879.2101

SANTA ANA, Calif.--(BUSINESS WIRE)--$ITI #IoT--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today reported financial results for its fiscal third quarter 2021 ended December 31, 2020. During the first quarter, the company completed the sale of its Agriculture and Weather Analytics segment to DTN, LLC. The results of the Agriculture and Weather Analytics segment are reported as discontinued operations for all periods presented in this release.

Fiscal Third Quarter 2021 Financial Highlights

• Total revenue of $28.2 million, up 5% year over year
• Total ending backlog of $76.9 million, up 5% sequentially
• Acquisition of TrafficCast International, Inc. on December 7, 2020
• GAAP net loss from continuing operations of $0.3 million, or $(0.01) per share, a $1.0 million, or $0.02 per share, improvement year over year (includes $0.3 million in expenses related to the TrafficCast acquisition)
• Adjusted EBITDA of $1.5 million, a $1.0 million improvement year over year

Management Commentary:

“Despite COVID-19, we are pleased to report another quarter with significant improvements in net income and adjusted EBITDA,” said Joe Bergera, president and CEO of Iteris. “The continued improvements in financial performance demonstrate our own ability to adapt operations to the current environment; however, some of our sub-contractors have experienced temporary COVID-related supply chain and logistics issues that led to project delays, particularly in southern California, and impacted our revenue for the December 31, 2020 period.

“Still, Iteris continues to experience favorable long-term, secular trends. In our fiscal fourth quarter, we will extend our market leadership with the release of further enhancements to our ClearMobility Platform and begin to capture various benefits from our recent acquisition of TrafficCast. These initiatives along with other ongoing activities, such as our focus on annual recurring revenue growth, will continue to strengthen the company’s financial model going forward.”

GAAP Fiscal Third Quarter 2021 Financial Results

Total revenue in the third quarter of fiscal 2021 increased 5% to $28.2 million, compared with $26.7 million in the same quarter a year ago. This revenue increase was driven primarily by a 23% increase in Roadway Sensors offset by an 8% decrease in Transportation Systems.

Operating expenses in the third quarter were consistent with the same quarter a year ago at $12.0 million for both periods.

Operating loss from continuing operations in the third quarter was approximately $0.3 million, which included approximately $0.3 million of acquisition-related expenses, compared with an operating loss of approximately $1.4 million in the same quarter a year ago. Net loss from continuing operations in the third quarter was approximately $0.3 million, or $(0.01) per share, compared with a loss of approximately $1.3 million, or $(0.03) per share, in the same quarter a year ago.

Non-GAAP Fiscal Third Quarter 2021 Financial Results

In addition to results presented in accordance with generally accepted accounting principles in the United States (“GAAP”), the company has included the following non-GAAP financial measure: Adjusted income (loss) from continuing operations before interest, taxes, depreciation, amortization, stock-based compensation expense, and restructuring charges (“Adjusted EBITDA”). A discussion of the company’s use of this non-GAAP financial measure is set forth below in the financial statements portion of this release under the heading “Non-GAAP Financial Measures and Reconciliation.”

Adjusted EBITDA in the third quarter was approximately $1.5 million, or 5.2% of total revenues, compared with approximately $0.5 million, or 1.9% of total revenues, in the same quarter a year ago.

Earnings Conference Call

Iteris will conduct a conference call today to discuss its fiscal third quarter results.

Date: Tuesday, February 2, 2021
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Toll-free dial-in number: 1-800-437-2398
International dial-in number: +1 323-289-6576
Conference ID: 5637689

To listen to the live or archived webcast of the earnings call or to view the press release, please visit the investor relations section of the Iteris website at www.iteris.com.

A replay of the conference call will be available after 7:30 p.m. Eastern time on the same day through February 9, 2021. To access the replay dial information, please click here.

About Iteris, Inc.

Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information and join the conversation on Twitter, LinkedIn and Facebook.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the Company’s anticipated demand and growth opportunities, conversion of bookings to revenue, the impact and success of new solution offerings, the Company’s recent acquisition, our future performance, growth and profitability, operating results, and financial condition and prospects. Such statements are subject to certain risks, uncertainties, and assumptions that are difficult to predict and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to, federal, state and local government budgetary issues, spending and scheduling changes, funding constraints and delays, including in light of the COVID-19 pandemic; the timing and amount of government funds allocated to overall transportation infrastructure projects and the transportation industry; our ability to replace large contracts once they have been completed; the effectiveness of efficiency, cost, and expense reduction efforts; our ability to achieve anticipated benefits from our sale of our Agriculture and Weather Analytics segment; our ability to successfully complete and integrate acquired assets and companies; our ability to specify, develop, complete, introduce, market and gain broad acceptance of our new and existing product and service offerings; risks related to our ability to recruit and/or retain key talent; the potential unforeseen impact of product and service offerings from competitors, increased competition in certain market segments, and such competitors’ patent coverage and claims; any softness in the markets that we address; adverse effects of the COVID-19 pandemic on our vendors and our employees; and the impact of general economic and political conditions and specific conditions in the markets we address, and the possible disruption in government spending and commercial activities, such as the COVID-19 pandemic, import/export tariffs, terrorist activities or armed conflicts in the United States and internationally. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, as contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC's website (www.sec.gov).