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Earnings Call Summary | 180 Degree Capital Corp(TURN.US) Q1 2024 Earnings Conference

Futu News ·  May 15 05:16  · Conference Call

The following is a summary of the 180 Degree Capital Corp. (TURN) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • 180 Degree Capital Corp reported a 3% increase in their NAV.

  • Cash and public securities rose by 5.4% in the quarter.

  • Significant value increases included stocks for Potbelly, Synchronoss, Quantum and D-Wave, despite losses in Lantronix and Arena Group.

  • From the acquisition of TARA, the firm received a $1.3 million payment.

Business Progress:

  • Potbelly and Synchronoss showcased their strong results, with Synchronoss selling its digital assets to become fully cloud-based.

  • Quantum introduced new products featuring AI technology.

  • D-Wave announced new quantum computing resources and partnerships.

  • Lantronix secured an additional order from Gridspertise and is undergoing a review by their new CEO.

  • Synchronoss has saved an estimated $15 million annually after its post divestiture cost removals.

  • Ascent resolved issues with its Bristol tubular plant and secured a large order in its chemicals business.

More details: 180 Degree Capital Corp IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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