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ALJ Regional Holdings (NASDAQ: ALJJ) announced the completion of its debt restructuring on June 29, 2021. The company has replaced its existing term loan and amended its revolving credit facility, achieving a 54% reduction in quarterly term loan principal payments, equating to approximately $4.4 million, enhancing liquidity. The new term loan also reduces convertible debt dilution and lowers the average interest rate by over 50%. Additionally, the maturity date has been extended to June 2025, consolidating existing debt and providing a stronger financial position.
ALJ Regional Holdings, Inc. (NASDAQ: ALJJ) reported strong financial performance for Q2 2021, with consolidated net revenue of $114.6 million, a 34.1% increase from the previous year. The company achieved a net income of $0.7 million, reversing a significant loss of $59.2 million in Q2 2020. Adjusted EBITDA rose 90.7% to $8.9 million, reflecting improved operations at Faneuil and Phoenix. For Q3 2021, ALJ projects net revenue between $90.5 million and $96.5 million, indicating ongoing business momentum.
Phoenix Color Corp., a subsidiary of ALJ Regional Holdings (Nasdaq:ALJJ), has announced the acquisition of two new printing presses to enhance its manufacturing capabilities in Hagerstown, MD, and Terre Haute, IN. This purchase is part of a larger $20 million capital investment initiative started in 2019, aimed at modernizing its production facilities. To date, five presses will be installed, bolstering Phoenix's position in the printing industry. The CEO expressed optimism about continued sales momentum into 2021 following a strong second half of 2020.
ALJ Regional Holdings, Inc. (NASDAQ: ALJJ) reported first-quarter results for the period ending December 31, 2020. The company achieved net revenue of $119.8 million, up 32.5% from $90.5 million in Q1 2019, driven by new contracts at Faneuil and increased sales at Phoenix. However, ALJ recorded a net loss of $2.1 million, an improvement from the $4.3 million loss in the prior year. Adjusted EBITDA rose to $6.3 million, marking an 88.0% increase year-over-year. The company anticipates revenues for Q2 2021 to range between $104.0 million and $111.0 million.
ALJ Regional Holdings (NASDAQ: ALJJ) reported Q4 and yearly results for the period ending September 30, 2020. Net revenue reached $107.3 million, a 20.6% increase year-on-year, attributed largely to Faneuil's state unemployment contracts. The firm posted a net income of $1.1 million (EPS: $0.02), a significant turnaround from a net loss of $9.9 million the previous year. However, total annual net loss hit $67.7 million, significantly impacted by a $59 million goodwill impairment. Adjusted EBITDA for the year was $24 million, down 13.4% from last year.
ALJ Regional Holdings (NASDAQ: ALJJ) reported that its fiscal Q4 and full-year results ending September 30, 2020, will exceed prior guidance. CEO Jess Ravich noted improved performance at Faneuil due to new state unemployment contracts and stronger results from Phoenix driven by increased volume in trade components. ALJ forecasts adjusted EBITDA for Q4 between $8M and $9M, significantly up from $5.3M to $6.8M previously projected. For the full year, adjusted EBITDA is expected to range from $23.2M to $24.2M compared to an earlier forecast of $20.5M to $22M.
ALJ Regional Holdings, Inc. (NASDAQ: ALJJ) reported a net revenue of $95.4 million for Q3 2020, a 13.2% increase from Q3 2019. The increase was driven by new contracts at its subsidiary Faneuil, although Phoenix and Carpets experienced lower sales. ALJ recorded a net loss of $2.7 million with a loss per share of $0.06, an improvement from a $7.2 million loss in the same quarter last year. Adjusted EBITDA rose 38.5% to $7.2 million. For Q4 2020, ALJ forecasts net revenue between $100 million to $107 million.