WALTHAM, Mass., Oct. 15, 2019 /PRNewswire/ -- Steel Connect, Inc.
(the "Company") (NASDAQ Global Select Market: STCN) today announced
financial results for its fiscal year ended July 31, 2019 and the fourth quarter.
Operating Results
Fiscal Year ended July 31, 2019
Financial Highlights
- Net revenue for fiscal 2019 increased $174.6 million to $819.8
million, compared to net revenue of $645.2 million in fiscal year 2018
- Gross margin increased 260 basis points to 18.3% in fiscal
2019, compared to 15.7% in fiscal year 2018
- Operating loss was ($25.2)
million in fiscal 2019, compared to a loss of ($8.3) million in fiscal year 2018
- Adjusted EBITDA increased $29.4
million to $65.4 million,
compared to $36.0 million in fiscal
year 2018
Fourth Quarter Financial Highlights
- Net revenue for the fourth quarter of fiscal 2019 increased
$9.4 million to $204.5 million, compared to $195.1 million for the same period of 2018
- Gross margin was 18.2% for the fourth quarter of fiscal 2019,
compared to 19.1% for the same period of 2018
- Operating loss was ($33.1)
million for the fourth quarter of fiscal 2019, compared to a
loss of ($0.2) million for the same
period of 2018
- Adjusted EBITDA was $14.8 million
for the fourth quarter of fiscal 2019, compared to $15.5 million for the same period of 2018
The Company is presenting EBITDA and Adjusted EBITDA to assist
investors with their understanding of the Company's results of
operations and financial condition. See "Note Regarding Use of
Non-GAAP Financial Measurements" below for the definitions of
EBITDA and Adjusted EBITDA.
Fiscal Year 2019 and Fourth Quarter Highlights
- Net cash provided by operating activities was $20.8 million, compared to $10.0 million in fiscal 2018
- At July 31, 2019, the Company had
cash and cash equivalents of $32.5
million, compared to $92.1
million at July 31, 2018,
primarily due to the settlement of the Company's convertible notes
which matured on March 1, 2019
- Total debt decreased by $65.7
million from July 31, 2018 to
July 31, 2019
- Capital expenditures were $14.5
million during fiscal 2019, primarily for facility
modernization and to increase operational efficiencies
- During the fourth quarter of 2019, the Company recorded
liabilities totaling $32.1 million
related to certain tax-related liabilities, which reflected the
Company's revised estimate for such exposure
Warren Lichtenstein, Executive
Chairman and Interim Chief Executive Officer of Steel Connect,
stated, "Our fiscal year 2019 results show improvements throughout
the businesses. We recorded an increase of $29.4 in Adjusted EBITDA and increased net cash
provided by operating activities by $10.8
million, while significantly reducing our total debt. We
have delivered growth and are focused on cost reduction and
facility rationalization to improve margins. Excluding a
$32.1 million charge in the fourth
quarter of fiscal 2019 related to certain tax-related liabilities,
operating results in the fourth quarter of 2019 were comparable
with the same period in 2018. Looking forward to fiscal year 2020,
we remain focused on driving efficiencies in both our Supply Chain
and Direct Marketing segments, leveraging the Steel Business System
and SteelGrow, and other management tools and services. I believe
we will realize additional savings and synergies over time. We
continue to drive positive changes to enhance our organization,
support our customers, and deliver increased shareholder
value."
Fiscal Year Financial Summary
During the fiscal year ended July 31,
2019, the Company changed the determination of reportable
segments. The Company has determined that it has two reportable
segments: Services ("Supply Chain") and Products ("Direct
Marketing" or "IWCO"). The July 31,
2018 financial information has been restated to reflect
these changes on a comparable basis.
Net Revenue
The Company reported net revenue of $819.8 million for the twelve months ended
July 31, 2019, compared to
$645.2 million for the same period in
the prior year, an increase of $174.6
million or 27.1%. The year-over-year improvement was
primarily related to the Direct Marketing segment as IWCO Direct
was acquired in December 2017. Supply
Chain revenues decreased $13.0
million as the Company focused on profitable product
lines.
Operating Loss
The Company reported operating loss of ($25.2) million for the twelve months ended
July 31, 2019, compared to an
operating loss of ($8.3) million for
the same period in the prior year, a decrease of ($16.9) million. This decrease was attributable
to a $32.1 million adjustment related
to certain tax-related liabilities recorded by IWCO. Operating
results were also negatively impacted by an increase of
$10.1 million in non-cash
amortization of intangible assets related to the IWCO acquisition.
Fiscal year 2018 operating results were favorably impacted by a
$12.7 million gain on sale of
property.
Adjusted EBITDA
The Company reported Adjusted EBITDA of $65.4 million for the fiscal year ended
July 31, 2019, compared to Adjusted
EBITDA of $36.0 million in fiscal
year 2018, an increase of $29.4
million.
Fourth Quarter Financial Summary
Net Revenue
The Company reported net revenue of $204.5 million for the fourth quarter ended
July 31, 2019, compared to
$195.1 million for the same quarter
in the prior year, an increase of $9.4
million. Revenue in the Direct Marketing segment for the
fourth quarter ended July 31, 2019
was $124.4 million, compared to
$119.2 million for the prior period
ended July 31, 2018. The
year-over-year increase was primarily related to an increase in the
average price per package mailed. The Company's Supply Chain
business reported total revenue of $80.1
million for quarter ended July 31,
2019, compared to $75.9
million for the same period in the prior year. This increase
is primarily related to higher net revenue from programs in the
computing and consumer electronics markets.
Operating Loss
The Company reported an operating loss of ($33.1) million for the fourth quarter ended
July 31, 2019, compared to an
operating loss of ($0.2) million for
the same period in the prior year. The decrease of ($32.9) million year-over-year was primarily
related to the adjustment for tax-related liabilities previously
mentioned, as well as a $2.5 million
non-cash asset impairment charge recorded by Supply Chain during
the fourth quarter of 2019.
Adjusted EBITDA
The Company reported Adjusted EBITDA of $14.8 million for the three months ended
July 31, 2019, compared to Adjusted
EBITDA of $15.5 million in the same
period in the prior year, a decrease of $0.7
million.
About Steel Connect, Inc.
Steel Connect, Inc. is a diversified holding company with two
wholly-owned subsidiaries, ModusLink Corporation and IWCO Direct,
that have market-leading positions in supply chain management and
direct marketing.
ModusLink Corporation provides supply chain business management
services to many of the world's great brands across a diverse range
of industries, including consumer electronics, telecommunications,
computing and storage, software and content, consumer packaged
goods, medical devices, retail and luxury goods. With experience
and expertise in packaging, kitting and assembly, fulfillment,
digital commerce, reverse logistics, as well as a global footprint
spanning the Americas, Europe, and
the Asia-Pacific region, the
Company's adaptive approach to supply chain services helps to drive
growth, lower costs, and improve profitability.
IWCO Direct is a leading provider of data-driven marketing
solutions that help clients drive response across all marketing
channels to create new and more loyal customers. It is one of the
largest direct mail production providers in North America, with a full range of services
including strategy, creative, and execution for omnichannel
marketing campaigns, along with one of the industry's most
sophisticated postal logistics strategies for direct mail.
For details on ModusLink Corporation's solutions visit
www.moduslink.com, read the Company's blog for supply chain
professionals, and follow on LinkedIn, Twitter, Facebook, and
YouTube.
For details on IWCO Direct visit www.iwco.com, read the
Company's blog, "SpeakingDIRECT," or follow on LinkedIn and
Twitter.
Steel Connect, ModusLink, and IWCO Direct are registered
trademarks of Steel Connect, Inc. All other company names and
products are trademarks or registered trademarks of their
respective companies.
Note Regarding Use of Non-GAAP Financial Measurements
In addition to the financial measures prepared in accordance
with generally accepted accounting principles, the Company uses
EBITDA and Adjusted EBITDA, non-GAAP financial measures, to assess
its performance. EBITDA represents earnings before interest income,
interest expense, income tax expense, depreciation and amortization
of intangible assets. We define Adjusted EBITDA as net income
(loss) excluding net charges related to interest income, interest
expense, income tax expense, depreciation, amortization of
intangible assets, strategic consulting and other related
professional fees, executive severance and employee retention,
restructuring, non-cash charge related to a fair value step-up to
work-in-process inventory, charge for tax-related liabilities,
share-based compensation, gain (loss) on sale of long-lived assets,
impairment of long-lived assets, unrealized foreign exchange
(gains) losses, net, other non-operating (gains) losses, net, and
(gains) losses on investments in affiliates and impairments.
We believe that providing EBITDA and Adjusted EBITDA to
investors is useful, as these measures provide important
supplemental information of our performance to investors and permit
investors and management to evaluate the operating performance of
our business. We use EBITDA and Adjusted EBITDA in internal
forecasts and models when establishing internal operating budgets,
supplementing the financial results and forecasts reported to our
Board of Directors, determining a component of incentive
compensation for executive officers and other key employees based
on operating performance, and evaluating short-term and long-term
operating trends in our core business segments. We believe that
EBITDA and Adjusted EBITDA financial measures assist in providing
an enhanced understanding of our underlying operational measures to
manage our core businesses, to evaluate performance compared to
prior periods and the marketplace, and to establish operational
goals. We believe that these non-GAAP financial adjustments are
useful to investors because they allow investors to evaluate the
effectiveness of the methodology and information used by management
in our financial and operational decision-making.
EBITDA and Adjusted EBITDA are non-GAAP financial measures and
should not be considered in isolation or as a substitute for
financial information provided in accordance with U.S. GAAP. These
non-GAAP financial measures may not be computed in the same manner
as similarly titled measures used by other companies.
See the EBITDA and Adjusted EBITDA reconciliation included in
the financial tables of this release.
Forward-Looking Statements and Use of Non-GAAP
Measures
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Statements in this release that are not historical facts are hereby
identified as "forward-looking statements" for the purpose of the
safe harbor provided by Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. All statements other than statements of historical
fact, including without limitation, those with respect to the
Company's goals, plans, expectations, and strategies set forth
herein are forward-looking statements. The following important
factors and uncertainties, among others, could cause actual results
to differ materially from those described in these forward-looking
statements: the Company's ability to execute on its business
strategy and to achieve anticipated synergies and benefits from
business acquisitions, including any cost reduction plans and the
continued and increased demand for and market acceptance of its
services, which could negatively affect the Company's ability to
meet its revenue, operating income and cost savings targets,
maintain and improve its cash position, expand its operations and
revenue, lower its costs, improve its gross margins, reach and
sustain profitability, reach its long-term objectives and operate
optimally; the Company's ability to repay indebtedness; failure to
realize expected benefits of restructuring and cost-cutting
actions; the Company's ability to preserve and monetize its net
operating losses; difficulties integrating technologies,
operations, and personnel in accordance with the Company's business
strategy; client or program losses; demand variability with clients
to which the Company sells on a purchase order basis rather than
pursuant to contracts with minimum purchase requirements; failure
to settle disputes and litigation on terms favorable to the
Company; risks inherent with conducting international operations;
and increased competition and technological changes in the markets
in which the Company competes. For a detailed discussion of
cautionary statements and risks that may affect the Company's
future results of operations and financial results, please refer to
the Company's filings with the Securities and Exchange Commission,
including, but not limited to, the risk factors in the Company's
Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
These filings are available on the Company's Investor Relations
website under the "SEC Filings" tab.
All forward-looking statements are necessarily only estimates
of future results, and there can be no assurance that actual
results will not differ materially from expectations, and,
therefore, you are cautioned not to place undue reliance on such
statements. Further, any forward-looking statement speaks only as
of the date on which it is made, and we undertake no obligation to
update any forward-looking statement to reflect events or
circumstances after the date on which the statement is made or to
reflect the occurrence of unanticipated events.
Investor Relations Contact:
Jennifer Golembeske
212-520-2300
jgolembeske@steelpartners.com
– Tables to Follow –
Steel Connect,
Inc. and Subsidiaries
|
Condensed
Consolidated Balance Sheets
|
(in
thousands)
|
|
|
|
|
|
|
|
July
31,
|
|
|
July
31,
|
|
|
|
2019
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
Assets:
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
32,548
|
|
|
$
|
92,138
|
|
Accounts receivable,
net
|
|
|
112,141
|
|
|
|
99,254
|
|
Inventories,
net
|
|
|
23,674
|
|
|
|
47,786
|
|
Restricted
cash
|
|
|
13,516
|
|
|
|
11,688
|
|
Prepaid and other
current assets
|
|
|
31,445
|
|
|
|
13,415
|
|
Total current
assets
|
|
|
213,324
|
|
|
|
264,281
|
|
|
|
|
|
|
|
|
|
|
Property and
equipment, net
|
|
|
91,268
|
|
|
|
106,632
|
|
Goodwill
|
|
|
257,128
|
|
|
|
254,352
|
|
Other intangible
assets, net
|
|
|
162,518
|
|
|
|
192,964
|
|
Other
assets
|
|
|
7,325
|
|
|
|
8,821
|
|
Total
assets
|
|
$
|
731,563
|
|
|
$
|
827,050
|
|
|
|
|
|
|
|
|
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
$
|
85,898
|
|
|
$
|
78,212
|
|
Accrued
expenses
|
|
|
112,658
|
|
|
|
88,426
|
|
Restricted
cash
|
|
|
13,516
|
|
|
|
11,688
|
|
Current portion of
long-term debt
|
|
|
5,732
|
|
|
|
5,727
|
|
Other current
liabilities
|
|
|
39,046
|
|
|
|
42,029
|
|
Convertible Notes
payable
|
|
|
—
|
|
|
|
50,274
|
|
Total current
liabilities
|
|
|
256,850
|
|
|
|
276,356
|
|
Convertible Notes
payable
|
|
|
7,432
|
|
|
|
14,256
|
|
Long-term debt,
excluding current portion
|
|
|
368,505
|
|
|
|
383,111
|
|
Other long-term
liabilities
|
|
|
10,898
|
|
|
|
10,507
|
|
Total
liabilities
|
|
|
643,685
|
|
|
|
684,230
|
|
|
|
|
|
|
|
|
|
|
Contingently
redeemable preferred stock
|
|
|
35,186
|
|
|
|
35,192
|
|
|
|
|
|
|
|
|
|
|
Stockholders'
equity
|
|
|
52,692
|
|
|
|
107,628
|
|
|
|
|
|
|
|
|
|
|
Total liabilities,
contingently redeemable preferred stock and stockholders'
equity
|
|
$
|
731,563
|
|
|
$
|
827,050
|
|
Steel Connect,
Inc. and Subsidiaries
|
Condensed
Consolidated Statements of Operations
|
(in thousands,
except per share data)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
July 31,
|
|
Twelve Months
Ended July 31,
|
|
|
2019
|
|
2018
|
|
Fav
(Unfav)
|
|
2019
|
|
2018
|
|
Fav
(Unfav)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Services
|
|
$
|
80,116
|
|
|
$
|
75,897
|
|
|
|
5.6
|
%
|
|
$
|
332,928
|
|
|
$
|
345,900
|
|
|
|
(3.8)
|
%
|
Products
|
|
|
124,355
|
|
|
|
119,180
|
|
|
|
4.3
|
%
|
|
|
486,902
|
|
|
|
299,358
|
|
|
|
62.6
|
%
|
Total net
revenue
|
|
|
204,471
|
|
|
|
195,077
|
|
|
|
4.8
|
%
|
|
|
819,830
|
|
|
|
645,258
|
|
|
|
27.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenue
|
|
|
167,345
|
|
|
|
157,721
|
|
|
|
(6.1)
|
%
|
|
|
670,100
|
|
|
|
543,999
|
|
|
|
(23.2)
|
%
|
Gross
profit
|
|
|
37,126
|
|
|
|
37,356
|
|
|
|
(0.6)
|
%
|
|
|
149,730
|
|
|
|
101,259
|
|
|
|
47.9
|
%
|
|
|
|
18.2
|
%
|
|
|
19.1
|
%
|
|
|
(1.0)
|
%
|
|
|
18.3
|
%
|
|
|
15.7
|
%
|
|
|
2.6
|
%
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and
administrative
|
|
|
62,376
|
|
|
|
29,296
|
|
|
|
(112.9)
|
%
|
|
|
144,078
|
|
|
|
101,972
|
|
|
|
(41.3)
|
%
|
Amortization of
intangible assets
|
|
|
7,277
|
|
|
|
8,214
|
|
|
|
11.4
|
%
|
|
|
30,446
|
|
|
|
20,285
|
|
|
|
(50.1)
|
%
|
(Gain) loss on sale of
property
|
|
|
571
|
|
|
|
-
|
|
|
|
N/M
|
|
|
|
485
|
|
|
|
(12,692)
|
|
|
|
(103.8)
|
%
|
Total operating
expenses
|
|
|
70,224
|
|
|
|
37,510
|
|
|
|
(87.2)
|
%
|
|
|
175,009
|
|
|
|
109,565
|
|
|
|
(59.7)
|
%
|
Operating
loss
|
|
|
(33,098)
|
|
|
|
(154)
|
|
|
|
N/M
|
|
|
|
(25,279)
|
|
|
|
(8,306)
|
|
|
|
N/M
|
|
Other expenses,
net
|
|
|
(4,170)
|
|
|
|
(7,063)
|
|
|
|
41.0
|
%
|
|
|
(36,820)
|
|
|
|
(26,982)
|
|
|
|
(36.5)
|
%
|
Loss before
taxes
|
|
|
(37,268)
|
|
|
|
(7,216)
|
|
|
|
(416.4)
|
%
|
|
|
(62,099)
|
|
|
|
(35,288)
|
|
|
|
(76.0)
|
%
|
Income tax expense
(benefit)
|
|
|
713
|
|
|
|
516
|
|
|
|
(38.1)
|
%
|
|
|
4,670
|
|
|
|
(71,202)
|
|
|
|
N/M
|
|
Gains on investments
in affiliates, net of tax
|
|
|
—
|
|
|
|
(200)
|
|
|
|
N/M
|
|
|
|
(42)
|
|
|
|
(801)
|
|
|
|
(94.8)
|
%
|
Net income
(loss)
|
|
|
(37,981)
|
|
|
|
(7,533)
|
|
|
|
(404.2)
|
%
|
|
|
(66,727)
|
|
|
|
36,715
|
|
|
|
281.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Preferred
dividends on redeemable preferred stock
|
|
|
(532)
|
|
|
|
(536)
|
|
|
|
0.8
|
%
|
|
|
(2,129)
|
|
|
|
(1,335)
|
|
|
|
(59.5)
|
%
|
Net income (loss)
attributable to common stockholders
|
|
$
|
(38,513)
|
|
|
$
|
(8,069)
|
|
|
|
(377.3)
|
%
|
|
$
|
(68,856)
|
|
|
$
|
35,380
|
|
|
|
N/M
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net earnings
(loss) per share attributable to common stockholders:
|
|
$
|
(0.63)
|
|
|
$
|
(0.13)
|
|
|
|
|
|
|
$
|
(1.13)
|
|
|
$
|
0.60
|
|
|
|
|
|
Diluted net earnings
(loss) per share attributable to common stockholders:
|
|
$
|
(0.63)
|
|
|
$
|
(0.13)
|
|
|
|
|
|
|
$
|
(1.13)
|
|
|
$
|
0.53
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
common shares used in:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings (loss)
per share
|
|
|
61,180
|
|
|
|
62,081
|
|
|
|
|
|
|
|
61,180
|
|
|
|
59,179
|
|
|
|
|
|
Diluted earnings
(loss) per share
|
|
|
61,180
|
|
|
|
62,081
|
|
|
|
|
|
|
|
61,180
|
|
|
|
81,899
|
|
|
|
|
|
Steel Connect,
Inc. and Subsidiaries
Reconciliation of Selected Non-GAAP Measures to GAAP
Measures
|
|
(in thousands)
(unaudited)
|
|
Net income (loss)
to Adjusted EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
July 31,
|
|
|
Twelve Months
Ended July 31,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2019
|
|
|
2018
|
|
|
2019
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
$
|
(37,981)
|
|
|
$
|
(7,533)
|
|
|
$
|
(66,727)
|
|
|
$
|
36,715
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
income
|
|
|
(11)
|
|
|
|
(248)
|
|
|
|
(528)
|
|
|
|
(679)
|
|
Interest
expense
|
|
|
9,616
|
|
|
|
10,521
|
|
|
|
41,951
|
|
|
|
29,884
|
|
Income tax
expense
|
|
|
713
|
|
|
|
516
|
|
|
|
4,670
|
|
|
|
(71,202)
|
|
Depreciation
|
|
|
5,726
|
|
|
|
5,403
|
|
|
|
22,058
|
|
|
|
16,791
|
|
Amortization of
intangible assets
|
|
|
7,278
|
|
|
|
8,214
|
|
|
|
30,446
|
|
|
|
20,285
|
|
EBITDA
|
|
|
(14,659)
|
|
|
|
16,872
|
|
|
|
31,870
|
|
|
|
31,794
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Strategic consulting
and other related professional fees
|
|
|
100
|
|
|
|
30
|
|
|
|
722
|
|
|
|
2,937
|
|
Executive severance
and employee retention
|
|
|
312
|
|
|
|
—
|
|
|
|
387
|
|
|
|
202
|
|
Restructuring
|
|
|
57
|
|
|
|
152
|
|
|
|
57
|
|
|
|
271
|
|
Non-cash charge
related to a fair value step-up to work-in-process
inventory
|
|
|
—
|
|
|
|
240
|
|
|
|
—
|
|
|
|
7,211
|
|
Adjustments related
to certain tax liabilities
|
|
|
32,070
|
|
|
|
—
|
|
|
|
32,070
|
|
|
|
—
|
|
Share-based
compensation
|
|
|
93
|
|
|
|
1,144
|
|
|
|
1,267
|
|
|
|
10,801
|
|
(Gain) loss on sale
of long-lived asset
|
|
|
571
|
|
|
|
765
|
|
|
|
485
|
|
|
|
(12,070)
|
|
Impairment of
long-lived assets
|
|
|
2,546
|
|
|
|
—
|
|
|
|
3,015
|
|
|
|
(91)
|
|
Unrealized foreign
exchange gains, net
|
|
|
(1,835)
|
|
|
|
(1,966)
|
|
|
|
(115)
|
|
|
|
(2,408)
|
|
Other non-cash gains,
net
|
|
|
(4,494)
|
|
|
|
(1,568)
|
|
|
|
(4,265)
|
|
|
|
(1,839)
|
|
Gains on investments
in affiliates and impairments
|
|
|
—
|
|
|
|
(200)
|
|
|
|
(42)
|
|
|
|
(801)
|
|
Adjusted
EBITDA
|
|
$
|
14,761
|
|
|
$
|
15,470
|
|
|
$
|
65,451
|
|
|
$
|
36,007
|
|
View original
content:http://www.prnewswire.com/news-releases/steel-connect-reports-financial-results-for-fiscal-year-2019-and-the-fourth-quarter-300939186.html
SOURCE Steel Connect, Inc.