Paragon Technologies News Release

Rhea-AI Summary

Paragon Technologies, Inc. (OTC PINK:PGNT) has released its financial results for the three and six months ended June 30, 2024. The company, which operates as a holding company, made this announcement on August 9, 2024. Paragon has provided a Consolidated Statement of Operations comparing the periods ended June 30, 2024, and 2023.

Key points from the release include:

• Shareholders are advised to review the detailed quarterly report available at www.pgntgroup.com
• The company's investment gains or losses reflect realized changes in its investment portfolio
• Paragon uses pre-tax operating income, a non-GAAP measure, in its financial analysis
• Pre-tax operating earnings are defined separately from the company's investment gains/losses

The release also notes that since 2018, new accounting rules require companies to record unrealized losses or gains from equity investments in the income statement.

Positive

• Paragon Technologies uses pre-tax operating income for financial analysis, providing a clearer picture of operational performance
• The company maintains an investment portfolio, potentially diversifying its income streams

Negative

• The press release lacks specific financial figures, making it difficult to assess the company's actual performance
• Reliance on investment gains/losses could introduce volatility to the company's financial results

EASTON, PA / ACCESSWIRE / August 9, 2024 / Paragon Technologies, Inc. (OTC PINK:PGNT), a holding company, announced its results for the three and six months ended June 30, 2024, on August 9, 2024.

Paragon Technologies, Inc.'s Consolidated Statement of Operations for the three and six months ended June 30, 2024 and 2023 are summarized below. For further detail on our results, shareholders should carefully review our quarterly report, which can be found at www.pgntgroup.com.

Analysis of Results and General Business Commentary:
In 2018 newly issued accounting rules required that all companies record any unrealized losses or gains from equity investments in the income statement.

Paragon's investment gains or losses reflect realized gains or losses in the company's investment portfolio.

Paragon utilizes pre-tax operating income, a non-GAAP financial measure, in its analysis of financial results. Paragon Technologies defines pre-tax operating earnings outside of the investment gains/losses of the Company.

About Paragon Technologies
Paragon Technologies, Inc. is a holding company owning subsidiaries that engage in diverse business activities, including material handling, distribution, real estate and investments.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company's operations, financial condition and performance and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others, those related to: general economic conditions, including those in the markets in which the Company operates; the Company's ability to expand its revenue streams; technological changes in the Company's industry; the continued acceptance of the Company's distribution channel by vendors and customers; decreased demand for the Company's products and services and the Company's ability to retain or replace its significant customers; factors affecting the capital markets and share prices generally; economic and political risks of selling products in foreign countries, including risks of non-compliance with U.S. and foreign laws and regulations; cybersecurity risks and risks of damage and interruptions of information technology systems; and the Company's ability to complete acquisitions, strategic investments, divestitures, mergers or other transactions on acceptable terms or at all. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors, nor can management assess the impact of all such factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All statements in this press release other than statements that are purely historical are forward-looking statements. The Company does not intend and assumes no obligation, to update any forward-looking statements made in this press release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. For further information, contact the company at info@pgntgroup.com

SOURCE: Paragon Technologies, Inc.

View the original press release on accesswire.com

FAQ

When did Paragon Technologies (PGNT) release its Q2 2024 financial results?

Paragon Technologies (PGNT) released its financial results for the three and six months ended June 30, 2024, on August 9, 2024.

Where can shareholders find detailed information about Paragon Technologies' (PGNT) quarterly report?

Shareholders can find detailed information about Paragon Technologies' (PGNT) quarterly report on the company's website at www.pgntgroup.com.

What financial measure does Paragon Technologies (PGNT) use in its analysis of results?

Paragon Technologies (PGNT) uses pre-tax operating income, a non-GAAP financial measure, in its analysis of financial results.

How does Paragon Technologies (PGNT) define pre-tax operating earnings?

Paragon Technologies (PGNT) defines pre-tax operating earnings separately from the company's investment gains/losses.