Steel Connect (STCN, $1.52) posts a loss for its fiscal Q1
Steel Connect, Inc. reported a loss of -$19.5 million in its fiscal first quarter.
The supply chain business process management services company incurred a loss of -33 cents per share. The company’s revenue for the quarter came in at $125.4 million.
“During the first quarter, we felt the negative effects of reduced volumes in the direct marketing business and the global semiconductor shortages in our supply chain business," said Interim Chief Executive Officer and Executive Chairman Warren Lichtenstein. "We are continuing to implement the Competitive Improvement Plan in the direct marketing business that we previously announced, as we remain focused on creating long-term value for all our stakeholders."
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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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