Category: qemgmfyv

North Orleans Housing / SeARCH

first_img North Orleans Housing / SeARCH The Netherlands North Orleans Housing / SeARCHSave this projectSaveNorth Orleans Housing / SeARCH Architects: SeARCH Area Area of this architecture project Area:  4850 m² Year Completion year of this architecture project “COPY” Projects Bjarne Mastenbroek ArchDaily CopyHousing•Amsterdam, The Netherlands “COPY” ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/894899/north-orleans-housing-search Clipboardcenter_img CopyAbout this officeSeARCHOfficeFollowProductConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousingAmsterdamThe NetherlandsPublished on May 23, 2018Cite: “North Orleans Housing / SeARCH” 23 May 2018. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogAluminium CompositesTechnowoodWood Siding in KSR Villa BodrumRailing / BalustradesMitrexIntegrated Photovoltaic Railing – BIPV RailingMetal PanelsAurubisCopper Surface: Nordic DécorWindowsAir-LuxSliding Window – CorneringWoodBruagRoom Acoustics – Interior Cladding PanelsSinksBradley Corporation USASinks – Frequency® FL-SeriesMetal PanelsTrimoInternal Walls – Trimoterm, Qbiss OneGlassSolarluxWintergarden – SDL Akzent plusSystems / Prefabricated PanelsInvestwoodCement Bonded Particle Board – VirocPaintKEIMMineral Paint in Hunters Point LibraryCabinetsburgbadMid-Height Cabinet – EssentoSignage / Display SystemsGlasbau HahnMuseum Display CasesMore products »Save想阅读文章的中文版本吗?北奥尔良住房 / SeARCH是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream 2016 Housing Other Participants:Theo TulpClient:Hamer & SpijkerCity:AmsterdamCountry:The NetherlandsMore SpecsLess SpecsSave this picture!Courtesy of SeARCHRecommended ProductsWoodLunawoodThermowood FacadesDoorsSaliceSliding Door System – Slider S20WoodTechnowoodPergola SystemsDoorspanoramah!®ah! PivotText description provided by the architects. SeARCH has designed a new residential building of 120 studio apartments for students or young professionals, located right beside our own offices on the Spijkerkade in Amsterdam North.Save this picture!Courtesy of SeARCHThe district, originally an industrial area, is undergoing very rapid transformations. In the urban redevelopment process, creative industries are finding their place in the former factories and warehouses, creating a new dynamism in the North. With the development of new transport links from the City Centre district to North district, such as a new metro line and a pedestrian bridge, the area is in need of new housing. Therefore this was the ideal location for this residential complex.Save this picture!Typical floor planThe individual studios are fully furnished, prefabricated concrete modules, which are stacked on the building site in six layers of 20 units.Save this picture!Courtesy of SeARCHOn the ground floor the modules have extra height to be used as the entrance of the housing building, the concierge office, postal boxes, bicycle storage, Laundromat and a communal lounge. The complex is built in a U shape around a central garden and terrace with barbecue, open to all residents.Save this picture!Section 02The façade is made of COR-TEN steel elements added to the prefab modules to create circulations and private balconies with a view towards the IJ River. It reveals its unique color after rainy days and enhances the industrial character of the building.Save this picture!Courtesy of SeARCHProject gallerySee allShow lessEstonian Pavilion at 2018 Venice Biennale to Demonstrate How Built Architecture Is I…Architecture NewsA45 / BIGSelected ProjectsProject locationAddress:Spijkerkade 33, 1021 JS Amsterdam, The NetherlandsLocation to be used only as a reference. It could indicate city/country but not exact address. Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/894899/north-orleans-housing-search Clipboard Manufacturers Brands with products used in this architecture project Save this picture!Courtesy of SeARCH+ 18Curated by María Francisca González Share Lead Architect: Manufacturers: Delta Light, ROCKWOOL, dormakaba, Constructor Year: last_img read more

Guinness heiress calls for more charity support

first_imgGuinness heiress calls for more charity support Howard Lake | 28 September 2009 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Tagged with: Celebrity Giving/Philanthropy Ireland “It’s a very good reason to go to the pub and raise a pint and raise money for charity as well. Just drive around Dublin and see the parks, hospitals and schools and everything they [the Guinness family] built.“I think more employers should be like Guinness’s as they were. That’s the legacy, the legacy of charity.”Guinness has pledged €6 million to help fund local community programmes as part of the drinks celebrations. A campaign was run earlier in the summer which urged people to sign Guinness posters as part of a marketing strategy linked to the community fund.www.diageo.comcenter_img A Guinness heiress has called on Irish companies to mirror the brewing family’s spirit and fund hospitals, schools and small businesses hit by the recession.Joining the 250-year celebrations at St James’s Gate, Jasmine Guinness, 32, the great granddaughter of the last family director, said now was the time for the more fortunate to show their charity.Photo: Guinness Toucan, Guinness Storehouse, Dublin by HowardLake on Flickr.com. Advertisement  38 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

Factary unveils connections mapping tool Atom

first_img About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. Howard Lake | 5 November 2012 | News Tagged with: Factary Prospect research Technology Prospect research specialists Factary have today launched Factary Atom, a network mapping service for charities that lets fundraising researchers see the connections between donors, prospects and their contacts.Atom will interpret data contained in a spreadsheet or database and present it, and the links between the data, in a visual network format.The tool is designed to enable researchers to find out the answers to questions such as “Whom could my six trustees reach – and whom could those people reach?”, and “I’m trying to meet these 10 major prospects – who do they know that I could approach?”. Advertisement The tool was announced this morning at the Researchers in Fundraising Conference in London.The data that can be presented covers not just business networks but also philanthropic, social and educational positions. By combining these informal connections, it goes beyond other prospect research tools such as those that show linked company directorships. Factary unveils connections mapping tool Atom AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Charities that have already tried out the tool report that it has helped them work out the best way in which to reach a prospect.Factary managing director Chris Carnie added that the maps that Atom generates could also be useful for campaigning and lobby groups who want to see how best to put pressure on particular decision takers.http://factary.com/atom-network-mapping/  44 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThislast_img read more

International Women’s Alliance says: ‘End forced displacement, neo-fascism & war’

first_imgFacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this This statement, slightly edited here, was issued March 8 by the International Women’s Alliance, a global grassroots women’s organization. For more information, see iwa2010.org.  On this International Working Women’s Day, the International Women’s Alliance continues to amplify the voices of women and children around the globe who continue to struggle against intensified attacks by state fascism, wars of aggression and neoliberalism resulting in their further oppression and exploitation.In the U.S., women comprise more than half the workforce, relying more and more on immigrant and migrant labor, and continue to face wage inequality. Persistent inequality has far-reaching economic consequences.Along the southern border of the U.S., hundreds of thousands of migrants are seeking asylum across the border to escape violence, poverty and political corruption in El Salvador, Guatemala and Honduras. Once they have managed to survive the dangerous trek, they are immediately faced with inhumane treatment by Border Patrol and Homeland Security agents. Children, forced to separate from their families, [are] placed in overcrowded detention facilities.As the U.S. continues to augment its war budget in the billions toward senseless wars and wall borders, the global capitalist crisis devastates the lives of the majority of the world’s population, with women and children feeling the brunt of this crisis. Forced migration and widening inequality across and within countries in the North and South are … manifestations of a humanitarian crisis. The crisis of nature is visible in an ever-increasing number of natural catastrophes, which hit predominantly poor and vulnerable populations.The logic of the system of rapacious capitalism requires it to constantly seek out more land, resources and labour. Artificially created conflicts and proxy civil wars, fed and fanned by external powers for their own gain, ravage parts of Africa, Asia, Latin America and the Middle East, affecting particularly the women. We hear the hypocritical invocation of democracy by regime changers in situations like Venezuela — where the U.S. and Canada are shamelessly playing a leading role — often the same players who financed and supported coups in places like Chile and propped up genocidal dictators!To counter our growing resistance, governments — regardless of the political party — use distractions such as heightened nationalism to divide us and provide fodder for neo-fascists.In Quebec, the latest incarnation of secular fundamentalism is the law excluding women and others from work if they choose religiously observant clothing, even as the Premier denies the existence of Islamophobia, something his Status of Woman Minister actually proves with her utterances! It is clear such laws have nothing to do with religious neutrality or protection of women. Instead, they feed racism, hate, attacks on women and undermine women’s economic autonomy.Women throughout the world need to unite and resist the increasing fascism in their respective countries and throughout the world. Working women must continue fighting for their rights and against oppression and exploitation!Long Live International Working Women’s Day!last_img read more

Media accused of biased coverage of unrest in Arakan state

first_img Help by sharing this information June 12, 2012 – Updated on January 20, 2016 Media accused of biased coverage of unrest in Arakan state RSF_en News Organisation Follow the news on Myanmar US journalist held in Yangon prison notorious for torture Receive email alerts Thai premier, UN rapporteurs asked to prevent journalists being returned to Myanmar A threat by Rangoon chief minister Myint Swe to prosecute news media that cover the current sectarian violence in the western state of Arakan in an irresponsible manner has highlighted the fragility of recent improvements in media freedom. Myint Swe issued his warning during a news conference on 10 June in which he accused the media “enflaming the conflict” in Arakan.Speaking at the same news conference, Gen. Tint Swe, the head of the Press Scrutiny and Registration Division (PSRD) told the media that all news reports would have to be submitted to his department before publication, in effect restoring the system of prior censorship in effect under the military junta that handed over to a civilian government last year.Despite an increasing military and police presence, the tension continues to mount in Arakan with a new outbreak of violence on 10 June that left five wounded. The clashes were sparked by the discovery of the body of an Arakanese girl, an apparent rape victim, on 29 May in the village of Maung Taw.“This marks a very disturbing step backwards by the government in its dealings with the media, especially as Tint Swe had previously said the PSRD would cease to exist at the end of the month,” Reporters Without Borders and the its partner organization, the Burma Media Association, said. “The threat of criminal prosecutions against journalists and the reimposition of censorship are unacceptable.“The latest developments have proved that freedom of information can in no way be taken for granted. We have for months been saying that this freedom cannot just be regarded as a consequence of democratization. It also as an essential condition for it. The current conflicts show this. A legal framework and protective measures for media freedom must be adopted. The role of the media in crises of this kind is essential. While they should be reminded of their duties and responsibilities, their right to report the news and move about freely must not be obstructed.”The two organizations added: “The media have tried hard to provide good coverage. But they lack legal protection and institutions capable of providing leadership, the resources available to them vary a great deal and some media and journalists are relatively inexperienced. It is up to news organizations to remind their reporters of the rules of professional conduct and, above all, to protect the ones they send to cover conflicts.”During the news conference, Myint Swe said media that covered the unrest in a manner that threatened “the stability of the state” could be prosecuted under Section 5 of the Emergency Provisions Act and Section 505 (b) of the Penal Code.Under Section 5 (j) of the Emergency Provisions Act, actions that “affect the morality or conduct of the public or a group of people in a way that would undermine the security of the union or the restoration of law and order” are punishable by up to seven years in prison.Under Section 505 (b) of the Penal Code, actions “with intent to cause, or which is likely to cause, fear or alarm to the public or to any section of the public whereby any person may be induced to commit an offence against the State or against the public tranquillity” are punishable by up to two years in prison.According to the exile newspaper Irrawaddy, Myint Swe told the print media that “you should be aware of your responsibilities rather than just being competitive with your rival journals.” The government-controlled New Light of Myanmar newspaper has meanwhile urged journalists to tone down their reporting and to cover the conflicts in a tolerant manner.As announced, the government has reestablished its strict control of news and information by means of prior censorship by the PSRD. Media that fail to submit their articles before publication will be punishable under the Printers and Publishers Registration Act, a law introduced by the late dictator Ne win.The civilian government had announced changes to the legislation governing the media but they have yet to see the light of day. They include the creation of a Press Council that would be part of the information ministry and would replace the PSRD, which acted as a censorship office.Information and culture minister Kyaw Hsan’s announcements about the proposed Press Council were nonetheless criticized by journalists. The first draft of the proposed new media law was based on 1962 legislation, envisaged applying penalties taken from the Penal Code, and only concerned the print media. A second version is currently being drafted.Democratic Voice of Burma, an exile radio and TV station, has issued the following list of 10 recommendations to its reporters and editors. If followed, the recommendations would help to ensure balanced coverage of the unrest in Arakan:-*1. Stories should not enflame tension.-*2. Avoid using racial or religious terms.-*3. If it is unnecessary, do not mention religious or racial background.-*4. Quote people who are respected by both sides in the conflict. Use quotes from respected religious leaders.-*5. Never use just one source for a story. Use sources from both sides and one independent source.-*6. Clearly spell out what is not known and what cannot be confirmed.-*7. When using a quote from a member of the government or other official, check with another source and if this is not possible, say that the information could not be verified independently.-*8. Do not quote extreme racial or religious statements by either side.-*9. Be aware of the possibility that the government or a group within the government is creating the conflict and using the media to drive their agenda.-*10. Stories from reporters must be approved by the person in charge, or by editors, before going out on air.Burma is ranked 169th out of 179 countries in the 2011-2012 Reporters Without Borders press freedom index. May 26, 2021 Find out morecenter_img MyanmarAsia – Pacific RSF asks Germany to let Myanmar journalist Mratt Kyaw Thu apply for asylum News MyanmarAsia – Pacific News News May 31, 2021 Find out more to go further May 12, 2021 Find out morelast_img read more

Court dismisses “insult” prosecution against Chávez critic

first_img Reporters Without Borders today welcomed the decision by a Caracas court yesterday to dismiss a prosecution against journalist Napoleón Bravo, an outspoken critic of President Hugo Chávez’s government, on charges of insulting Venezuela’s supreme court in September 2004 in a programme he used to present on Venevisión TV.Bravo (who now works for Unión Radio) called the supreme court a “whorehouse” and accused it of being under political control for failing to take any action in a case of assault.The attorney-general’s office initiated the prosecution against Bravo on 8 February of this year, six days after he was banned from leaving the country and ordered to report regularly to a judge. A criminal code reform adopted in March 2005 had meanwhile increased penalties for press offences, especially for insulting or defaming public figures in connection with their work. As a result, Bravo faced up to 15 months in prison.At yesterday’s hearing, Bravo’s lawyer, Alberto Arteaga, got the court to recognise that Bravo could not be prosecuted under a law protecting individual public figures because he criticised the supreme court as a whole not any of its members, and that if any of its members had felt targeted, the complaint should have been brought by that person instead of the supreme court as a whole. The attorney-general’s office could appeal against the ruling.______________________________________________________________10.02.06 – Journalist facing “insult” charge as fears mount over draconian new lawReporters Without Borders voiced concern after the state prosecutor’s office laid a charge of ”insult” against Napoleón Bravo of Venevisión TV on 8 February 2006, since it would be the first to be tried under draconian criminal law reform.The organisation said it feared damage to press freedom, as the law, promulgated on 16 March 2005, steps up sanctions for press offences.Napoléon Bravo – real name José Ovidio Rodríguez Cuesta – is accused of having denigrated the superior court, the highest in the land, on his programme “24 Horas” on 1st September 2004. Bravo also roundly denounced the entire Venezuelan judicial system, which he alleged was under political control. The national prosecutor, Luisa Ortega Díaz charged him with “insult” and sent his case to a judge in the lower court. May 17, 2006 – Updated on January 20, 2016 Court dismisses “insult” prosecution against Chávez critic August 25, 2020 Find out more News RSF_en New wave of censorship targeting critical media outlets Follow the news on Venezuela News Two journalists murdered just days apart in Venezuela to go further Receive email alerts News Help by sharing this information Coronavirus “information heroes” – journalism that saves lives News “With the Napoleón Bravo precedent, the application of the criminal code reform will seriously compromise the future of press freedom in Venezuela, since this law is so harsh towards the media,” said the press freedom organisation. “Moreover the journalist is likely to be sentenced on matters dating back to before the law came into force, trampling on the fundamental principle of non-retroactivity,” it added.Bravo, who has been a constant thorn in the side of the government of Hugo Chávez, faces 15 months in prison. Organisation VenezuelaAmericas January 13, 2021 Find out more VenezuelaAmericas June 15, 2020 Find out morelast_img read more

Pasadena Buddhist Temple: Father’s Day Chirashi Sushi Sale – June 17

first_img Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Top of the News Name (required)  Mail (required) (not be published)  Website  Herbeauty5 Things To Avoid If You Want To Have Whiter TeethHerbeautyHerbeautyHerbeautyHere Is What Scientists Say Will Happen When You Eat AvocadosHerbeautyHerbeautyHerbeauty7 Most Startling Movie Moments We Didn’t Realize Were InsensitiveHerbeautyHerbeautyHerbeauty6 Trends To Look Like A Bombshell And 6 To Forget AboutHerbeautyHerbeautyHerbeautyThe Most Heartwarming Moments Between Father And DaughterHerbeautyHerbeautyHerbeauty11 Ayurveda Heath Secrets From Ancient IndiaHerbeautyHerbeauty EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes 11 recommended0 commentsShareShareTweetSharePin it Subscribe Business News Make a comment Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday center_img Community News Faith & Religion Events Pasadena Buddhist Temple: Father’s Day Chirashi Sushi Sale – June 17 Published on Friday, May 25, 2012 | 4:49 pm More Cool Stuff First Heatwave Expected Next Week Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Your email address will not be published. Required fields are marked * Community News The Pasadena Buddhist Temple in conjunction with the Buddhist Women’s Association (BWA) will host a Chirashi Fundraiser on Sunday, June 17, from 11:00 a.m. to 12:00 noon in the Temple’s Gymnasium. These are all pre-sale only and cost is $5.00 per order.All pre-orders are due by June 12th. Fill out the form on this link and send the payments or fax orders to (626) 345-9095.For more information, call Linda Ito at (626) 358-358-4185 or email [email protected] or Corky Ishikawa at (626) 574-7090 or email [email protected] Buddhist Temple, 1993 Glen Avenue, Pasadena, (626) 798-4781 or visit www.pasadenabuddhisttemple.org. Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenalast_img read more

East Meets West at Alexander’s Steakhouse

first_img Community News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Make a comment Name (required)  Mail (required) (not be published)  Website  Szechuan is a Chinese spice that is fiery and wasabi, sometimes called Japanese horseradish, is also known for its punch of heat. Put the two together and you are in for an experience like no other. Top of the News Alexander’s Steakhouse is located at 111 N Los Robles Ave, Pasadena, call (626) 486-1111 or visit www.alexanderssteakhouse.com/pasadena/#reservations for reservations. Herbeauty10 Sweet Things Every Guy Wants To Hear From The Woman He LovesHerbeautyHerbeautyHerbeauty15 Countries Where Men Have Difficulties Finding A WifeHerbeautyHerbeautyHerbeautyThe Most Heartwarming Moments Between Father And DaughterHerbeautyHerbeautyHerbeautyNutritional Strategies To Ease AnxietyHerbeautyHerbeautyHerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeautyHerbeautyHow To Lose Weight & Burn Fat While You SleepHerbeautyHerbeauty Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena Your email address will not be published. Required fields are marked * Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Alexander’s Steakhouse is known for its fine dining experience influenced by Japanese flavors. You will find a new favorite when you stop in to try the new 24 ounce Szechuan Spiced Rub Rib eye with Wasabi Cream Sauce. Pasadena Eats, The Dining Blog East Meets West at Alexander’s Steakhouse From STAFF REPORTS Published on Friday, October 23, 2015 | 12:28 pmcenter_img 3 recommended0 commentsShareShareTweetSharePin it Subscribe Community News Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Business News First Heatwave Expected Next Week More Cool Stuff faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes The 24 ounce Szechuan Spiced Rub Ribeye with Wasabi Cream Sauce is cooked to perfection and the intense flavors will bring nothing but pleasure in this new dish. Alexander’s Steakhouse has long been delighting diners with their high quality of food and amazing menu selection. There are many fabulous food smashups that people adore. Peanut butter and jelly and macaroni and cheese are the beloved fusions of childhood. But are you ready for an adult fusion? Alexander’s Steakhouse is offering a new dish where East marries West and delivers a mouthwatering burst of flavor.last_img read more

Labour would put super tax on co-living units

first_imgPredictions on the future of learning discussed at Limerick Lifelong Learning Festival Limerick’s National Camogie League double header to be streamed live WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Linkedin Facebook Labour Party TD Jan O’Sullivan.Labour Housing spokesperson Jan O’Sullivan has warned developers of planned co-living units that the Labour Party would seek the implementation of a super tax on co-living developments that have already been built and would change the law to stop future developments.Deputy O’Sullivan said: “A 208 unit co-living scheme has now been granted permission in Dún Laoghaire. That site could have accommodated dozens of homes instead. The rent of €1,300 a month for one person is also totally unrealistic. In the middle of a housing crisis developers are chasing profits and building modern day bedsits.“The profit driven motives of developers mean that they are exploiting planning law to ensure they get the maximum return on development sites. That is why so many co-living schemes are now seeking permission. The housing policy expert Mel Reynolds has shown that these developments are making apartment building less likely as more profit is made per square meter from co-living over apartments. The same pattern is also evident in the glut of unaffordable student accommodation that has been built in Dublin city centre.Sign up for the weekly Limerick Post newsletter Sign Up “Firstly, the Labour Party if in a position to do so after the next election, would amend the development acts to restrict any further planned co-living schemes.”The Limerick politician takes the view that while there is little that can be done once the developments are built, the economic viability of developments can be impacted by putting a super tax on the individual properties.“Such a levy could be placed through the local property tax system. For example, a super tax of €10,000 per unit would quickly make these schemes unviable.“This is a warning to developers seeking planning permission for co-living developments and undertaking building now, that the Labour Party would seek to put a super tax on each co-living unit. We want to see affordable homes and sustainable communities built. Co-living units are developer led, profit driven, and an effort to exploit restricted supply.“Fine Gael have refused to halt these developments, and the Minister has likened them to ‘very trendy boutique hotels’. People are looking for homes to live in, not boxes. The Labour Party would ensure these co-living developments are ended.” LimerickNewsLabour would put super tax on co-living unitsBy Alan Jacques – July 31, 2019 105 Print WhatsApp Limerick Ladies National Football League opener to be streamed live center_img Previous articleLessons must be learnt from report on overpaymentsNext articleLimerick Post Show | Greg’s friends react to Love Island Alan Jacqueshttp://www.limerickpost.ie Twitter RELATED ARTICLESMORE FROM AUTHOR Donal Ryan names Limerick Ladies Football team for League opener Email TAGSco-livingHousingJan O’Sullivan TDLabour Partylimerick Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clash Advertisementlast_img read more

SelectQuote, Inc. Reports Second Quarter and Fiscal Year to Date 2021 Results

first_img 2020 (3,449) By Digital AIM Web Support – February 8, 2021 Facebook (852) Amortization of debt issuance costs and debt discount Operating Metrics Life premium represents the total premium value for all policies that were approved by the relevant insurance carrier partner and for which the policy document was sent to the policyholder and payment information was received by the relevant insurance carrier partner during the indicated period. Core premiums include term life and permanent life insurance policies while ancillary premiums include various smaller products. Because our commissions are earned based on a percentage of total premium, total premium volume for a given period is the key driver of revenue for our Life segment. *See reconciliation from non-GAAP measure, Adjusted EBITDA, to net income on pages 11-13 The following table shows core, final expense, and ancillary premiums for the periods presented: Six Months EndedDecember 31, $ 76,265 Revenue / CAC multiple 3.2X Other current assets % Change 47,805 2019 1,622 83,121 (1,395) $ 176,297 4.1X Auto & Home 14,000 68,110 Medicare Advantage and Medicare Supplement commission per MA / MS policy $ 1,276 Income tax expense Common stock, $.01 par value 130 7,383 $ Consolidated Technical development 1,906 Twelve Months EndedDecember 31, 39,070 Operating Metrics Submitted Policies Submitted policies are counted when an individual completes an application with our licensed agent and provides authorization to them to submit it to the insurance carrier partner. The applicant may have additional actions to take before the application will be reviewed by the insurance carrier, such as providing additional information. The following table shows the number of submitted policies for the periods presented: Restricted cash OTHER ASSETS 89,920 Total current assets 19 % Interest expense, net $ (13,619) 294,539 77,869 DEBT (10) % 570 $ 56,587 20,549 $ 1,251 (162) 83,602 7,241 Payments of debt issuance costs Other expenses, net 33,871 5,767 226 8,374 $ 8,675 Loss on disposal of property, equipment, and software (12) % 9,179 $ 19,469 286 % Revenue 391 Purchases of software and capitalized software development costs SELECTQUOTE, INC. AND SUBSIDIARIES Adjusted EBITDA to Net Income Reconciliation (Unaudited) Guidance net income to Adjusted EBITDA reconciliation, year ending June 30, 2021: $ $ Adjusted EBITDA* 2,150 Revenue $ 16,779 232 158,650 143,457 116 — (1,603) 45 % Income tax expense $ (110,792) Interest expense, net 7,339 (dollars per policy): 2020 CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—End of period 1,248 11,744 $ (7,049) 25,321 51,254 (25,436) $ — Net cash used in operating activities 22,891 (7,930) SHAREHOLDERS’ EQUITY: % Change $ (219,132) (2,259) (6,782) Gain (loss) on cash flow hedge 117 % 36,168 318 % Net Income Auto & Home Financial Results The following table provides the financial results for the Auto & Home segment for the periods presented: $ 388,709 34 % 2020 OPERATING COSTS AND EXPENSES: 330,343 2019 TOTAL ASSETS Facebook % Change Dental, Vision and Hearing 43,020 — Marketing and advertising 54,924 2020 368,869 Final Expense Premiums 11,263 28,000 $ 1,268 (in thousands): 2020 Previous articleSummit Wireless Technologies Presents Wireless Audio Design to Industry Display LeadersNext articleEminence Capital Releases Investor Presentation on Grossly Inadequate Offer Resulting From Highly Manipulated Pluralsight Sales Process Digital AIM Web Support 62 % $ 14,936 1,367 NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 91,112 1,340 16,891 37,382 140 CURRENT ASSETS: Per Unit Economics Per unit economics represents total Medicare Advantage and Medicare Supplement commissions, other product commissions, other revenues, and costs associated with the Senior segment, each shown as per number of approved Medicare Advantage and Medicare Supplement approved policies over a given time period. Management assesses the business on a per unit basis to help ensure that the revenue opportunity associated with a successful policy sale is attractive relative to the marketing acquisition cost. Because not all acquired leads result in a successful policy sale, all per policy metrics are based on approved policies which is the measure that triggers revenue recognition. The Medicare Advantage and Medicare Supplement commission per MA/MS policy represents the lifetime value of commissions for policies sold in the period. Other commission per MA/MS policy represents the lifetime value of commissions for other products sold in the period, including dental, vision and hearing, prescription drug plan, and other products, which management views as additional commission revenue on our agents’ core function of MA/MS policy sales. Other per MA/MS policy represents the production bonuses, lead sales revenue from InsideResponse, and updated estimates of prior period variable consideration based on actual policy renewals in the current period. Total operating expenses per MA/MS policy represent all of the operating expenses within the Senior segment. The Revenue to customer acquisition cost (“CAC”) multiple represents total revenue per MA/MS policy as a multiple of total marketing acquisition cost, which represents the direct costs of acquiring leads which is included in marketing and advertising expense within the total operating expenses per MA/MS policy. The following table shows per unit economics for the periods presented. Based on the seasonality of the Senior segment and the fluctuations between quarters, we believe that the most relevant view of per unit economics is on a rolling 12-month basis. All per MA/MS policy metrics below are based on the sum of approved MA/MS policies, as both products have similar commission profiles. These metrics are the basis on which management assesses the business: 140 $ (10) % $ (1,196) 2020 $ 1,250 22 % Life Financial Results The following table provides the financial results for the Life segment for the periods presented: 98 % (40) % 134 % (43) 88,461 Three Months EndedDecember 31, 24,992 2019 20,938 476,544 INCOME FROM OPERATIONS ASSETS Payments of costs incurred in connection with private placement 1,153 (63,355) 2020 Other commission per MA/MS policy 39 Six Months EndedDecember 31, 235 (5,499) (1,153) 6 % 6,223 Basic % Adjusted EBITDA* 6,414 77,299 Total current liabilities 128 % $ 18,619 (12) % Total revenue Three Months EndedDecember 31, 2,150 19,673 49,853 (564) Proceeds from sales of property and equipment INTANGIBLE ASSETS—NET 241,464 Corp & Elims Proceeds from other debt 2019 1,000 $ Share-based compensation expense 40 % 0.56 (6,178) 40 % $ 46,577 358,274 162 Depreciation and amortization Consolidated $ 1 % 12,184 351,015 (3,911) 37,382 (416) (in thousands) 2020 3 % 513,834 Cash and cash equivalents 2019 Other expenses, net 392,647 108,223 (29,961) $ 779 388,709 Total liabilities Medicare Advantage and Medicare Supplement approved policies 394,032 — Net income — 5,480 — 750 Three Months EndedDecember 31, 1,162 1,408 (7) % (2,243) % Change 35,067 Consolidated $ 2019 SELECTQUOTE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (In thousands) 318 % Gain on disposal of property, equipment, and software 19,123 (141) OTHER COMPREHENSIVE GAIN (LOSS) NET OF TAX: 14,000 (13,543) 2019 80 % 66,170 42 % Senior Three Months EndedDecember 31, (3,590) 90,416 18 % Operating expenses (in thousands) INCOME BEFORE INCOME TAX EXPENSE Non-recurring expenses Other assets 13,997 2019 216,472 320,974 2019 229 % (22,740) 90,374 (7,694) $ 84,121 % Update on Fiscal Year 2021 Guidance SelectQuote is raising the guidance originally provided for the full-year ending June 30, 2021. As a reminder, these expectations are forward-looking statements and actual results may be materially different and are affected by the risk factors and uncertainties identified in this press release and in our annual and quarterly filings with the Securities and Exchange Commission. SelectQuote is raising guidance for the full-year ending June 30, 2021 as follows: Consolidated Revenue is expected to be in the range of $920 million to $940 millionConsolidated Net Income is expected to be in the range of $138 million to $146 millionConsolidated Adjusted EBITDA is expected to be in the range of $230 million to $240 million* *See reconciliation from non-GAAP measure, Adjusted EBITDA, to net income on pages 11-13 Review of Financial Results SelectQuote, Inc. will host a conference call with the investment community today, Monday, February 8, 2021, beginning at 5 p.m. ET. To register for this conference call, please use this link: http://www.directeventreg.com/registration/event/6593229. After registering, a confirmation will be sent via email, including dial in details and unique conference call codes for entry. Registration is open through the live call, but to ensure you are connected for the full call we suggest registering a day in advance or, at minimum, 10 minutes before the start of the call. The event will also be webcasted live via our investor relations website https://ir.selectquote.com/investor-home/default.aspx or via this link. Non-GAAP Financial Measures This release includes certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. To supplement our financial statements presented in accordance with GAAP and to provide investors with additional information regarding our GAAP financial results, we have presented in this release Adjusted EBITDA and Adjusted EBITDA Margin, which are non-GAAP financial measures. These non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similarly titled measures presented by other companies. We define Adjusted EBITDA as income before interest expense, income tax expense, depreciation and amortization, and certain add-backs for non-cash or non-recurring expenses, including restructuring and share-based compensation expenses. The most directly comparable GAAP measure is net income. We monitor and have presented in this release Adjusted EBITDA because it is a key measure used by our management and Board of Directors to understand and evaluate our operating performance, to establish budgets and to develop operational goals for managing our business. In particular, we believe that excluding the impact of these expenses in calculating Adjusted EBITDA can provide a useful measure for period-to-period comparisons of our core operating performance. We believe that this non-GAAP financial measure helps identify underlying trends in our business that could otherwise be masked by the effect of the expenses that we exclude in the calculations of this non-GAAP financial measure. Accordingly, we believe that this financial measure provides useful information to investors and others in understanding and evaluating our operating results, enhancing the overall understanding of our past performance and future prospects. Forward Looking Statement This release contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “projection,” “would” and “outlook,” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. There are or will be important factors that could cause our actual results to differ materially from those indicated in these forward-looking statements, including, but not limited to, the following: the ultimate duration and impact of the ongoing COVID-19 pandemic, our reliance on a limited number of insurance carrier partners and any potential termination of those relationships or failure to develop new relationships; existing and future laws and regulations affecting the health insurance market; changes in health insurance products offered by our insurance carrier partners and the health insurance market generally; insurance carriers offering products and services directly to consumers; changes to commissions paid by insurance carriers and underwriting practices; competition with brokers, exclusively online brokers and carriers who opt to sell policies directly to consumers; competition from government-run health insurance exchanges; developments in the U.S. health insurance system; our dependence on revenue from carriers in our senior segment and downturns in the senior health as well as life, automotive and home insurance industries; our ability to develop new offerings and penetrate new vertical markets; risks from third-party products; failure to enroll individuals during the Medicare annual enrollment period; our ability to attract, integrate and retain qualified personnel; our dependence on lead providers and ability to compete for leads; failure to obtain and/or convert sales leads to actual sales of insurance policies; access to data from consumers and insurance carriers; accuracy of information provided from and to consumers during the insurance shopping process; cost-effective advertisement through internet search engines; ability to contact consumers and market products by telephone; global economic conditions; disruption to operations as a result of future acquisitions; significant estimates and assumptions in the preparation of our financial statements; impairment of goodwill; potential litigation and claims, including IP litigation; our existing and future indebtedness; developments with respect to LIBOR; access to additional capital; failure to protect our intellectual property and our brand; fluctuations in our financial results caused by seasonality; accuracy and timeliness of commissions reports from insurance carriers; timing of insurance carriers’ approval and payment practices; factors that impact our estimate of the constrained lifetime value of commissions per policyholder; changes in accounting rules, tax legislation and other legislation; disruptions or failures of our technological infrastructure and platform; failure to maintain relationships with third-party service providers; cybersecurity breaches or other attacks involving our systems or those of our insurance carrier partners or third-party service providers; our ability to protect consumer information and other data; and failure to market and sell Medicare plans effectively or in compliance with laws. For a further discussion of these and other risk factors that could impact our future results and performance, see the section entitled “Risk Factors” in the most recent Annual Report on Form 10-K (the “Annual Report”) filed by us with the Securities Exchange Commission. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, we do not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. About SelectQuote: Founded in 1985, SelectQuote (NYSE: SLQT) provides solutions that help consumers protect their most valuable assets: their families, health and property. The company pioneered the direct-to-consumer model of providing unbiased comparisons from multiple, highly-rated insurance companies allowing consumers to choose the policy and terms that best meet their unique needs. Two foundational pillars underpin SelectQuote’s success: a strong force of highly-trained and skilled agents who provide a consultative needs analysis for every consumer, and proprietary technology that sources, scores, and routes high-quality sales leads. The company has three core business lines: SelectQuote Senior, SelectQuote Life and SelectQuote Auto and Home. SelectQuote Senior, the largest and fastest-growing business, serves the needs of a demographic that sees 10,000 people turn 65 each day with a range of Medicare Advantage and Medicare Supplement plans from leading, nationally-recognized carriers, as well as prescription drug plans, dental, vision and hearing plans. SELECTQUOTE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands) Medicare Advantage 246,548 76,972 Fair value adjustments to contingent earnout obligations Total shareholders’ equity 324 % $ (in thousands) Other liabilities $ 427,519 63 % 117 % $ 2,000 Adjusted EBITDA 856 Proceeds from revolving line of credit Other expenses, net 2 31,966 5,000 Six Months EndedDecember 31, INCOME TAX EXPENSE Operating lease liabilities—current COMMISSIONS RECEIVABLE—Net 135,831 Three Months EndedDecember 31, 1,000 2019 5,237 SOFTWARE—Net 10,085 8,399 21 % 29,182 Three Months EndedDecember 31, OTHER COMPREHENSIVE GAIN (LOSS) 18,015 (50,602) (7) % 22,228 138,875 (22,264) 240,000 211 120 % Ancillary Premiums 505 $ 131,428 1,644 — OVERLAND PARK, Kan.–(BUSINESS WIRE)–Feb 8, 2021– SelectQuote, Inc. (NYSE: SLQT), reported consolidated revenue for the second quarter of fiscal year 2021 of $358.3 million, which was a 103% increase over consolidated revenue for the second quarter of fiscal year 2020 of $176.3 million. Consolidated net income for the second quarter of fiscal year 2021 was $90.4 million, which was a $51.3 million increase over consolidated net income for the second quarter of fiscal year 2020 of $39.1 million. Finally, consolidated Adjusted EBITDA for the second quarter of fiscal year 2021 was $129.5 million, which was an 88% increase over consolidated Adjusted EBITDA for the second quarter of fiscal year 2020 of $69.0 million. Consolidated revenue for the six months ended December 31, 2020, was $482.4 million, a 100% increase over consolidated revenue for the six months ended December 31, 2019, of $241.5 million. Consolidated net income for the six months ended December 31, 2020, was $91.3 million, an increase of $53.9 million over consolidated net income for the six months ended December 31, 2019, of $37.4 million. Finally, consolidated Adjusted EBITDA for the six months ended December 31, 2020, was $141.6 million compared to consolidated Adjusted EBITDA of $69.8 million for the six months ended December 31, 2019, a 103% increase. Chief Executive Officer Tim Danker commented, “Our Second Quarter results again demonstrated our strong growth potential, exceeding our internal expectations. The quarter was led by a strong AEP, where our Medicare Advantage approved policies grew by 132% year-over-year. We continue to show our differentiated model delivers superior financial results driven by a 32% increase in average agent productivity despite adding 70% more agents. We continue to excel in a fast-growing industry, and we’re pleased that our results continue to validate our strategy.” Chief Financial Officer Raffaele Sadun added, “With Senior revenue growth of 127% year-over-year, this was the fourth consecutive quarter of Senior revenue growth in excess of 100%. This is especially impressive given all of our hiring, onboarding, training, and licensing was done virtually. We continue to deliver industry leading and stable LTVs, which demonstrates the soundness of our strategy. As a result of our strong results during AEP, we are raising our fiscal year 2021 guidance for the third time this year.” Segment Results We currently report on three segments: 1) Senior, 2) Life and 3) Auto & Home. The performance measures of the segments include total revenue and Adjusted EBITDA. Costs of revenue, marketing and advertising, and technical development operating costs and expenses that are directly attributable to a segment are reported within the applicable segment. Indirect costs of revenue, marketing and advertising, and technical development operating costs and expenses are allocated to each segment based on varying metrics such as headcount. Adjusted EBITDA is calculated as total revenue for the applicable segment less direct and allocated costs of revenue, marketing and advertising, technical development, and general and administrative operating costs and expenses, excluding depreciation and amortization expense; gain or loss on disposal of property, equipment, and software; share-based compensation expense; restructuring expenses; and non-recurring expenses such as severance payments and transaction costs. Senior Financial Results The following table provides the financial results for the Senior segment for the periods presented: (275,000) $ CASH FLOWS FROM FINANCING ACTIVITIES: — 311,814 4,750 15,535 461,752 (141) 42,000 (200) 4,007 Medicare Supplement 1,233 Income tax expense Depreciation and amortization 1,427 NET INCOME (LOSS) PER SHARE: (dollars per approved policy): 2020 $ 1,281 (1,394) Life — 95,811 $ Retained earnings (accumulated deficit) (6,782) WEIGHTED-AVERAGE COMMON STOCK OUTSTANDING USED IN PER SHARE AMOUNTS: 131,121 105,844 (5,320) $ 14,716 Net income Revenue $ 36,375 (6,178) 26,540 December 31, 2020 5,080 528,104 (1,440) % Change Accounts payable 1,628 (33) % Accrued expenses 545,441 118,862 315,510 Auto & Home (2,792) Three Months EndedDecember 31, Medicare Supplement 13,273 (1,254) 170,043 634,135 (44,528) (70,765) — % $ (822) Revenue $ 315,510 Corp & Elims Six Months EndedDecember 31, — OPERATING LEASE RIGHT-OF-USE ASSETS 1,262,049 2019 116,956 % Change 37,300 56,587 (16) % 1,887 — REVENUE: Six Months EndedDecember 31, Share-based compensation expense — 68,110 Share-based compensation expense 127 % Changes in operating assets and liabilities: 128 % 358,274 176,297 68,965 Senior Other current liabilities 90,374 4,007 WhatsApp Premiums $ 13,255 % Change SELECTQUOTE, INC. AND SUBSIDIARIES Adjusted EBITDA to Net Income Reconciliation (Unaudited) Adjusted EBITDA 22 % 5,767 Accrued compensation and benefits Basic 13,043 Six Months EndedDecember 31, 25,245 115 % % Change 88,945 3,510 1,073,793 Non-recurring expenses Total operating costs and expenses (395) Acquisition of business (in thousands) 2020 Earnout liability — (5,768) $ 8,566 2020 Pinterest 185,439 12,680 (2,434) 321,065 OTHER EXPENSES, NET 79,198 $ 37,382 Operating Metrics Auto & Home premium represents the total premium value of all new policies that were approved by our insurance carrier partners during the indicated period. Because our commissions are earned based on a percentage of total premium, total premium volume for a given period is the key driver of revenue for our Auto & Home segment. The following table shows premiums for the periods presented: 148 1,517 28,000 116,689 627,914 (3,168) 120,120 16,776 Three Months EndedDecember 31, 37 % NET INCOME GOODWILL 90,416 $ 187,216 SELECTQUOTE, INC. AND SUBSIDIARIES Adjusted EBITDA to Net Income Reconciliation (Unaudited) 40 % Medicare Supplement 10,451 Three Months EndedDecember 31, — Range (9,241) $ 28,980 124,154 $ $ % Change (12,188) — 230,000 1,479 1,021 % $ 8,566 (21) $ (0.62) Revenue $ 7,241 Fair value adjustments to contingent earnout obligations Adjusted EBITDA Margin per MA / MS policy* 38 % — Prescription Drug Plan 6,250 Depreciation and amortization 91,253 CASH FLOWS FROM INVESTING ACTIVITIES: $ 30,155 $ 88,945 9 % $ 79,198 116 182,006 2,000 Diluted 162,645 (108) (2) $ % Change 2020 (21) 90,532 (0.62) (25) % 2,259 15,692 2019 18,619 2019 482,443 $ 642 WhatsApp 1,517 $ % Change $ 32,002 June 30, 2020 166,458 (6,902) 16,779 Net cash (used in) provided by financing activities 30,713 4,944 — Other 127 Prescription Drug Plan 232 Local NewsBusiness % Change 12,059 $ 132 % *See reconciliation from non-GAAP measure, Adjusted EBITDA, to net income on pages 11-13 Approved Policies Approved policies represents the number of submitted policies that were approved by our insurance carrier partners for the identified product during the indicated period. Not all approved policies will go in force. The following table shows the number of approved policies for the periods presented: Adjustments to reconcile net income to net cash, cash equivalents, and restricted cash used in operating activities: 132 % 141,019 Purchases of property and equipment (1) % 165,563 — $ 150,743 36,375 Lifetime Value of Commissions per Approved Policy Lifetime value of commissions per approved policy represents commissions estimated to be collected over the estimated life of an approved policy based on multiple factors, including but not limited to, contracted commission rates, carrier mix and expected policy persistency with applied constraints. The lifetime value of commissions per approved policy is equal to the sum of the commission revenue due upon the initial sale of a policy, and when applicable, an estimate of future renewal commissions. The following table shows the lifetime value of commissions per approved policy for the periods presented: — 0.56 Operating expenses 655,828 Corp & Elims Total 313,030 $ 110 % 23 % 4,985 592 (1,245) — Adjusted EBITDA 32,371 SelectQuote, Inc. Reports Second Quarter and Fiscal Year to Date 2021 Results (15) % (103,147) Non-recurring expenses % Change % Change Accounts receivable 44,000 — 2019 138,000 244 % 86 % 108,399 548,113 View source version on businesswire.com:https://www.businesswire.com/news/home/20210208005629/en/ CONTACT: Investor Relations: Sloan Bohlen 877-678-4083 [email protected]: Matt Gunter 913-286-4931 [email protected] Hale 913-653-4375 [email protected] KEYWORD: KANSAS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY INSURANCE SOFTWARE SOURCE: SelectQuote, Inc. Copyright Business Wire 2021. PUB: 02/08/2021 04:05 PM/DISC: 02/08/2021 04:06 PM http://www.businesswire.com/news/home/20210208005629/en $ CASH, CASH EQUIVALENTS, AND RESTRICTED CASH—Beginning of period (9,096) Six Months EndedDecember 31, CURRENT LIABILITIES: 0.55 241,464 Adjusted EBITDA per MA / MS policy* $ 567 49,126 Non-recurring expenses 23,946 Net proceeds from Term Loan $ 37,849 43 % 86 % (180,955) Share-based compensation expense Loss on disposal of property, equipment, and software 9,263 5,093 $ Payments of tax withholdings related to net share settlement of equity awards 4,819 (79) — (10) % 6,240 OPERATING LEASE LIABILITIES — Payments on revolving line of credit 14,635 (6,883) 7,379 — Adjusted EBITDA (16) TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY COMMITMENTS AND CONTINGENCIES 63,062 Six Months EndedDecember 31, 30,812 66,170 146,989 3 Net cash used in investing activities 7,447 Net income (13,543) 57,435 (5,091) $ 10,121 (16) Six Months Ended December 31, 2020 (in thousands) 24,512 (245,252) (in thousands) DEFERRED INCOME TAXES (62,307) Revenue $ 26 % 0.55 Twitter (6,775) Depreciation and amortization $ 1,197 1,690 Senior Core Premiums $ 18,751 2020 132,206 121 (12,746) (32) % 51,209 (16) Pinterest Cost of revenue $ 28,980 PROPERTY AND EQUIPMENT—Net Adjusted EBITDA 134,555 6,414 Six Months Ended December 31, 2019 245,907 3 % Accounts payable and accrued expenses 2020 Adjusted EBITDA* 134,555 (362) Fair value adjustments to contingent earnout obligations 129,500 Depreciation and amortization 117 % 83,634 Non-cash lease expense — 8,881 6,412 (3) Net income Diluted — Operating lease liabilities Operating expenses 36,958 Life CASH FLOWS FROM OPERATING ACTIVITIES: Corp & Elims 91,253 9,038 6,937 % Change (1,728) (12,404) $ (6,883) 49 % (107,329) (3) (12,184) TAGS  22,150 Fair value adjustments to contingent earnout obligations 162,546 (6) % Loss (gain) on disposal of property, equipment, and software Accumulated other comprehensive loss SELECTQUOTE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands) (35) % Other 3,256 (100,288) (14,612) Dental, Vision and Hearing 138 $ 5,822 $ Other 3,939 15,630 313,336 150,439 (0.56) Total 260,850 Total operating expenses per MA / MS policy (916) Medicare Advantage $ 1,268 (13,050) (1,336) Income tax expense $ 3,168 21 % (122,962) Net Income 143,457 209,739 545,689 — Operating expenses Six Months Ended December 31, 2019 $ 6,240 Payments of costs incurred in connection with initial public offering 8,598 2019 Adjusted EBITDA Margin* 30 % — $ $ Auto & Home 482,443 $ $ Consolidated (11,012) 39,070 (340,835) 251,187 $ 166,458 46,456 Non-recurring expenses 141 39,070 Dental, Vision and Hearing 33,614 2020 1,251 Payments on other debt 25,436 (4) % LIABILITIES AND SHAREHOLDERS’ EQUITY Auto & Home Deferred income taxes (43) Life 11,759 Depreciation and amortization (6,937) 1,262,049 $ 37,317 (228,753) $ $ (2) % Interest expense, net Three Months Ended December 31, 2020 2019 Adjusted EBITDA Margin* 18 % (in thousands) Senior 17,647 416,500 $ 138,875 Total revenue per MA / MS policy 1,483 Revenue Share-based compensation expense 32,420 Commission OTHER LIABILITIES (3) $ Cash dividends paid (10,719) Commissions receivable % Change (in thousands) 2020 (26,540) Share-based compensation expense 2019 234,120 141,565 Other expenses, net (9,263) 44 % 108 % 16,891 Interest expense, net General and administrative 146,000 2020 1,073,793 12,059 INTEREST EXPENSE, NET (24,550) $ Production bonus and other 69,832 Life (124) 2020 91,253 37,382 Interest expense, net 22,924 50,871 Adjusted EBITDA Margin* 43 % Prescription Drug Plan 4,815 Medicare Advantage 208,714 (11,744) 2019 (in thousands) 2020 2020 135,166 2019 Accounts receivable $ $ (837) 57 (91,778) Income tax expense $ $ 9,901 Six Months EndedDecember 31, $ 50,484 8,425 — 106 % Change Three Months Ended December 31, 2019 — (0.56) Additional paid-in capital 129,074 5,000 (1,771) 56,025 (171,616) Twitter 3,424 Commissions receivable-current Other per MA / MS policy 168 COMPREHENSIVE INCOME — $ 165,377 Proceeds from common stock option exercises 132 % last_img read more