For the week of June 19 to June 23, 2017

Monday Tuesday Wednesday Thursday Friday

Monday's Business Reports


These business pages will run from Monday thru Friday. Different reports each day starting Monday and adding webpages throughout the week. Our Business Reports will feature local California companies.

 

REVA Financing Completed

SAN DIEGO, CA...June 19, 2017 - REVA Medical, Inc. (ASX:RVA) ("REVA" or the "Company") announces that it has closed the second tranche and, therefore, has completed the financing transaction announced in April 2017 and approved by the Company's shareholders on June 1, 2017. Completion occurred on June 16, 2017 with the receipt of US$13.3 million cash proceeds in exchange for the issuance of US$13.3 million convertible notes and 598,500 options for the purchase of REVA's common stock. 

Combining the Tranche 2 proceeds with the net proceeds from Tranche 1, which closed May 4, 2017, the Company received a total of US$34.6 million in cash proceeds. Under the terms of the financing agreement, in exchange for the cash proceeds the Company issued a total of $47.1 million convertible notes, issued a total of 2,119,500 options for the purchase of common stock, and repurchased US$12.5 million of its common stock from one of the participating investors.

Commenting on the Tranche 2 completion, REVA's Chief Executive Officer, Ms. Reggie Groves, stated "We are grateful to our investors for their participation and support in this financing, as it provides the needed capital for our near and longer-term operating plans. The timing of the funding coincides with our commercial launch of Fantom, which is the most advanced bioresorbable scaffold available to treat patients suffering from coronary artery disease, and our initiation of the expanded clinical trials of Fantom."

Additional details regarding the Tranche 2 close can be found in REVA's Appendix 3B, lodged with the Australian Securities Exchange, and available on REVA's website at www.revamedical.com.

About REVA

REVA is a medical device company located in San Diego, California, USA, that has developed a proprietary bioresorbable scaffold, as an alternative to metal stents, to treat coronary artery disease. Scaffolds provide restoration of blood flow, support the artery through the healing process, then disappear (or "resorb") from the body over a period of time. This resorption allows the return of natural movement and function of the artery, a result not attainable with permanent metal stents. The Company's Fantom® scaffold has been designed to offer an ideal balance of thinness and strength, with distinct ease-of-use features including complete scaffold visibility under x-ray, expansion with one continuous inflation, and no procedural time limitations.

 

 

Reliance Steel & Aluminum Co. Announces Updated Guidance for the Second Quarter of 2017

LOS ANGELES, CA...June 19, 2017 - Reliance Steel & Aluminum Co. (NYSE:RS) today announced that the Company is updating its guidance for the second quarter ending June 30, 2017.

Reliance currently expects earnings per diluted share to be in the range of $1.30 to $1.40 for the second quarter of 2017, compared to the Company's prior outlook of $1.50 to $1.60 per diluted share. As a result of challenging market conditions, the positive momentum experienced for both demand and pricing trends in the first quarter of 2017 did not accelerate as originally anticipated into the second quarter of 2017. In addition, increased uncertainty in regard to metals pricing has placed downward pressure on the Company's gross profit margin. Despite these changes in market conditions, Reliance continues to believe that it can sustain a reported LIFO gross profit margin within the range of 27% to 29%.

About Reliance Steel & Aluminum Co.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 300 locations in 39 states and twelve countries outside of the United States, the Company provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries. Reliance focuses on small orders with quick turnaround and increasing levels of value-added processing. In 2016, Reliance's average order size was $1,560, approximately 47% of orders included value-added processing and approximately 40% of orders were delivered within 24 hours. Reliance Steel & Aluminum Co.'s press releases and additional information are available on the Company's web site at www.rsac.com.

 

 

Provident Financial Holdings Announces New Stock Repurchase Plan

RIVERSIDE, CA...June 19, 2017 - Provident Financial Holdings, Inc. ("Company"), (NASDAQ:PROV), the holding company for Provident Savings Bank, F.S.B., today announced that the Company's Board of Directors authorized the repurchase of up to five percent (5%) of the Company's common stock, or approximately 385,200 shares.  The Company will purchase the shares from time to time in the open market or through privately negotiated transactions over a one-year period depending on market conditions, the capital requirements of the Company, and available cash that can be allocated to the stock repurchase program, among other considerations.  The new plan was approved as a result of the completion of the May 2016 stock repurchase plan earlier this month which had authorized the repurchase of 397,000 shares (all of which have now been purchased).


 

Coupa's Procure-to-Pay Solution Selected by Jabil

SAN MATEO, CA...June 19, 2017 - Coupa Software (NASDAQ:COUP), a leader in cloud-based spend management, announced today that Jabil Inc. (NYSE:JBL) has chosen Coupa's Procure-to-Pay (P2P) solution for Global Procurement Technology Optimization across Asia, Europe and the Americas in what is an East-to-West deployment strategy.

Coupa's industry leading cloud-based P2P solution will help Jabil improve visibility into its global indirect spend, make more informed procurement decisions, increase efficiency of its accounts payable processes, and create value that directly impacts its bottom line. Coupa's P2P solution will enable Jabil to drive adoption and help secure these objectives by leveraging a consumer-like user experience combined with catalogs and contracts within a single unified B2B platform.

"After a very thorough evaluation of the marketplace, we have taken the strategic decision to team up with Coupa," said Frank McKay, vice president, global procurement at Jabil. "We truly felt they were best positioned to help us achieve our vision for unified global spend management across our annual purchases of indirect goods and services, while leveraging a partner that is a recognized leader in this space."

Born in the cloud, Coupa delivers a modern spend-management platform that accelerates business by unifying processes across all the ways employees spend money. These processes cover travel and expense management, procurement, invoicing, and related source-to-settle areas. Using the Coupa Open Business Network, the platform has connected more than 3 million suppliers and delivers a powerful solution for businesses committed to controlling their spend.

"With our Unified Cloud Platform for Business Spend, Jabil will be able to drive increased adoption across their employees and suppliers as well as capture spend-related transactions in one place that's available anytime, anywhere from any device," said Rob Bernshteyn, CEO, Coupa. "Jabil requires a comprehensive, open, user-centric, prescriptive, and accelerated approach to meeting the needs of their business, their employees, and their more than 25,000 global suppliers. We look forward to a long and successful relationship."

About Coupa Software
Coupa Software (NASDAQ:COUP) is the cloud platform for business spend. We deliver "Value as a Service" by helping our customers maximize their spend under management, achieve significant cost savings and drive profitability.  Coupa provides a unified, cloud-based spend management platform that connects hundreds of organizations representing the Americas, EMEA, and APAC with millions of suppliers globally.  The Coupa platform provides greater visibility into and control over how companies spend money. Customers – small, medium and large – have used the Coupa platform to bring billions of dollars in cumulative spend under management.  Learn more at www.coupa.com.

 

 

Capstone to Provide Clean Power from Waste Gas for Repeat Oil and Gas Customer

CHATSWORTH, CA...June 19, 2017 - Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it has secured an order for two C1000 Signature Series microturbines to provide power from waste gas for a repeat oil and gas customer in Southern California.

"This is a significant order in the California oil and gas market and further illustrates the strengthening of Capstone's oil and gas related business which made up 34% of total product revenue last year," stated Darren Jamison, Capstone's President and Chief Executive Officer. "Repeat customers are critical to our future growth, and we look forward to forging a long-term partnership with our industry leading Factory Protection Plan that aligns us 100% with our end-use customers and rewards everyone with system uptime and positive operational performance," added Mr. Jamison.

Cal MicroTurbine, one of Capstone's distributors in California, secured the order which is expected to be commissioned in the fall of 2017. The customer selected Capstone microturbines for its proven ability to provide clean, flexible and reliable performance while running on lower quality, minimally processed associated waste gas.

"We are excited this repeat customer selected us based on our customer focus, value and integration experience over traditional power generation providers," said Kenda Brown, President at Cal MicroTurbine. "We look forward to a long-term relationship with this customer and providing them a premium service through our all-inclusive Factory Protection Plan," added Ms. Brown.

Both C1000S microturbines will be installed alongside the Capstone Logic Controller and operate on high BTU, minimally processed gas. The microturbine units will produce quality power from low-quality waste gas with ultra-low emissions. The installation will ultimately act as a pilot site for a potential larger site expansion in the future.

"Capstone was tapped again by this existing customer due to past project success in waste gas utilization and remote power applications," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "Combined with Capstone's high reliability and local presence, we were able to provide the highest quality solution at a reasonable cost," added Mr. Crouse.


 

 

Boingo Seamlessly Connects Summer Travelers with Passpoint

LOS ANGELES, CA...June 19, 2017 - Boingo Wireless (NASDAQ:WIFI), the leading small cells, DAS and Wi-Fi provider that serves consumers, carriers and advertisers worldwide, will connect millions of travelers at major airports this summer with its state-of-the-art Passpoint hotspots. Passpoint is a Next Generation Hotspot (NGH) technology that automatically connects travelers to Wi-Fi with no log-in or passwords required, much like the Wi-Fi experience at the home or office.

"Passpoint is a gamechanger for airports as it offers travelers the easiest way to access a secure Wi-Fi connection with blazing-fast speeds," said Dawn Callahan, chief marketing officer, Boingo. "During the busy summer travel months, consumers can turn to Passpoint to stream and surf with ease, while avoiding expensive cellular roaming and data fees. The technology also unlocks Wi-Fi offload capabilities at airports to free up pressure on carrier networks."

Traffic on Boingo's Passpoint networks continue to grow, with the technology built into more than 50 million device profiles in Q1 2017 alone. Boingo Wi-Fi subscribers, as well as Sprint and Charter Spectrum customers are among consumers that can take advantage of automatic, seamless and secure connections at airports through Passpoint. Over 150,000 of Boingo's 1 million+ hotspots are Passpoint-enabled.

"Remembering passwords and log-ins are a thing of the past with Passpoint," said Peter Shankman, bestselling author, entrepreneur and frequent business traveler. "The moment I step into an airport, my phone automatically connects to Boingo Wi-Fi without any effort whatsoever. Despite a jam-packed summer travel schedule, access to no fuss Wi-Fi on-the-go helps me keep up with work demands."

According to Airlines for America (A4A), summer air travel on U.S. airlines is expected to grow to an all-time high of 234.1 million passengers. Top connectivity habits of travelers include checking Facebook, streaming sports, TV and music apps such as Spotify and HBO, and downloading large files from the office. To accommodate travelers' voracious appetite for streaming and sharing, Boingo offers premium Wi-Fi at airports with speeds of up to 50 Mbps.

About Boingo Wireless
Boingo Wireless, Inc. (NASDAQ:WIFI) helps the world stay connected. Our vast footprint of small cell networks cover more than a million DAS and Wi-Fi locations and reaches more than 1 billion consumers annually—in places as varied as airports, stadiums, universities, and military bases. For more information about the Boingo story, visit www.boingo.com.

 

 

Robin Systems and Guest Analyst Discuss Best Practices for Making Cloud Work for Enterprise Data-Reach Applications

SAN JOSE, CA...June 19, 2017 - While the Cloud might seem great for saving on CAPEX (subscription vs hardware) and for optimizing on OPEX (greater agility and flexibility), you, like many others, might find out it is not necessarily always as easy as it sounds. Users say that the ease of spinning resources on the cloud does not help with resource sprawl, but rather makes it harder to track and manage.

Looking at numerous cloud usage patterns, it is clear that stateless webscale apps are best suited for the cloud - when a VM goes down, simply bring a new one instead. When it comes to onboarding distributed stateful or clustered applications, the on-demand cloud resources are mandatory but not really a sufficient and significant planning solution and architecture adaptations are required.

Modern Enterprise apps, often characterized by a data centric nature and relying on Big-Data pipelines or NoSQL databases, have architecture implications that are not easily solvable on the cloud.

Learn what others are attempting and some are already doing to make cloud work given these challenges. The session will include a discussion of the latest trends and best practices as well as guiding points to consider.

WHEN:  Tuesday, June 20th at 10 AM PDT (1 PM EDT)  

he webinar will feature presenters, guest speaker Dave Bartoletti, Principal Analyst at Forrester Research, and Razi Sharir, VP of Products at Robin Systems.

Dave has developed, delivered, supported, and marketed game-changing technologies for more than 25 years as a software executive at several high-profile technology and financial services leaders. He was at the forefront of the middleware, web, virtualization, automation, and cloud computing tech disruptions as both vendor and consumer.

Razi is a veteran product management executive and joined Robin from CA technologies, where he led the SaaS Center of Excellence and Product Management for the team that developed a container-based Enterprise PaaS geared for modern application economy.

WHERE:         

To attend this online session, sign-up to register at:
http://containers.robinsystems.com/webinar/forrester-webinar-taking-enterprise-apps-to-the-cloud

Robin is transforming the way enterprise applications drive the infrastructure by bringing together purposely built container aware block storage with application aware fabric into the cloud - private and/or public; demonstrating unique benefits to distributed, clustered and stateful applications featuring Big Data and Databases. With a team that includes industry veterans from leading enterprise technology companies such as NetApp, Oracle and Veritas, Robin seeks to disrupt the $20 billion-plus virtualization market with its container-based compute and storage platform software that delivers better performance higher consolidation and a much simpler application lifecycle management than traditional hypervisor-based virtualization. Founded in 2013, the San Jose California-based company has raised more than $27 million in venture funding from leading investors such as Clear Ventures, DN Capital, USAA and SAP's Hasso Plattner Ventures.

 

 

Sherman Spitz of Berger Kahn Accepted Into American Board of Trial Advocates (ABOTA)

IRVINE, CA...June 19, 2017 - Sherman M. Spitz, an esteemed trial attorney and Shareholder at Berger Kahn, was recently accepted into the elite membership of the American Board of Trial Advocates (ABOTA), an association of experienced and professional trial lawyers and judges dedicated to the conservation of the civil jury trial and the rights of the Seventh Amendment of the Constitution.

Membership is by invitation only, requires a good standing with the Bar, and a strong record of jury trial experience. Spitz is also frequently involved in supporting the next generation of trial attorneys, with recent lectures at O.C. Bar Association College of Trial Advocacy on opening and closing arguments at trial, and with an appearance at the Southwestern School of Law Moot Court where he served as the "Chief Justice."

Says Managing Partner Craig Simon of Spitz's recognition, "Sherm and I opened this law firm more than three decades ago together. He is a stellar individual, an impeccable trial attorney and a person I'm proud to call my partner and my friend."

 

 

ProtechDNA & Aeris Collaborate to Help Reduce Crime

SANTA CLARA, CA...June 19, 2017 - ProtechDNA, an innovative crime prevention company, and Aeris, a pioneer and leader in the Internet of Things (IoT), today announced they are collaborating to help law enforcement agencies in the U.S. reduce crime in their communities.

ProtechDNA, an Aegis company, is a pioneer of crime prevention technologies. ProtechDNA assists law enforcement agencies in their efforts to prevent property theft, engage with members of their communities and enhance officers' safety.

ProtechDNA intends to launch several products this summer in cooperation with law enforcement agencies around the U.S. that are a critical component of ProtechDNA and Aeris' efforts. ProtechDNA will introduce new high-tech global positioning satellite (GPS) tracking devices, enabled by the Aeris® IoT Solutions platform, which offer many features to assist law enforcement agencies in crime prevention in their communities.

In addition to the GPS tracking, ProtechDNA will introduce a new crime prevention program that will revolutionize security and provide a powerful tool to law enforcement and the neighborhoods they protect.

The collaboration between ProtechDNA and Aeris ensures that ProtechDNA devices have reliable IoT connectivity no matter where they are deployed in the U.S. This allows the devices to be remotely monitored and expedites deployment time.

ProtechDNA will install the Aeris global subscriber identity module (SIM) at the point of manufacture, reducing both supply-chain costs and deployment time. By utilizing Aeris' single global access point name (APN), the ProtechDNA crime prevention system can also be deployed anywhere in the U.S., even in the most remote locations on a simple plug-and-play basis, removing the necessity to configure local network settings.

About ProtechDNA
ProtechDNA is an Aegis Company. Aegis Controls is a global leader providing technology to law enforcement around the world to reduce crime, engage community and protect first responders. Aegis relationships include all law enforcement agencies in North American and will soon expand to include Europe and South America. Our technologies have reduced crime in thousands of communities and provided positive outreach by police and the public. Aegis also provides officer safety solutions from our bulletproof applications, active shooter kits, and anti-ambush products.

About Aeris
Aeris is a pioneer and leader in the market of the Internet of Things – as an operator of end-to-end IoT and machine-to-machine (M2M) services and as a technology provider enabling other operators to build profitable IoT businesses. Among our customers are the most demanding users of IoT services today, including Hyundai, Acura, Rand McNally, Leica, and Sprint. Through our technology platform and dedicated IoT and M2M services, we strive to fundamentally improve their businesses – by dramatically reducing costs, improving operational efficiency, reducing time-to-market, and enabling new revenue streams.