Paragon Technologies Reports Year End 2024 Results Paragon Actively Transitioning Towards a Focused Growth Strategy
Paragon Technologies (OTC PINK:PGNT) has reported its financial results for the year ended December 31, 2024. The company achieved revenue of $126 million, a slight increase from $125 million in 2023, while maintaining net income of $1.1 million.
Income before taxes and non-controlling interest reached $2.9 million in 2024, up from $2.7 million in 2023. The company incurred legal expenses of $896,392, significantly lower than the $1,963,842 in 2023. The investment portfolio recorded realized losses of $749,000 and unrealized gains of $277,000.
Under interim CEO Sam Weiser's leadership, Paragon is implementing strategic changes, including enhanced corporate governance, separation of CEO and Chairman roles, and addition of three independent directors. The company is focusing on operational efficiency, revenue growth, and strategic asset management while divesting non-profitable assets.
Paragon Technologies (OTC PINK:PGNT) ha riportato i risultati finanziari per l'anno conclusosi il 31 dicembre 2024. L'azienda ha raggiunto un fatturato di 126 milioni di dollari, con un lieve aumento rispetto ai 125 milioni del 2023, mantenendo un utile netto di 1,1 milioni di dollari.
Il reddito ante imposte e interessi di minoranza ha raggiunto 2,9 milioni di dollari nel 2024, in aumento rispetto ai 2,7 milioni del 2023. L'azienda ha sostenuto spese legali per 896.392 dollari, significativamente inferiori rispetto a 1.963.842 dollari nel 2023. Il portafoglio di investimenti ha registrato perdite realizzate di 749.000 dollari e guadagni non realizzati di 277.000 dollari.
Sotto la guida del CEO ad interim Sam Weiser, Paragon sta implementando cambiamenti strategici, tra cui un miglioramento della governance aziendale, la separazione dei ruoli di CEO e Presidente, e l'aggiunta di tre direttori indipendenti. L'azienda si sta concentrando sull'efficienza operativa, la crescita del fatturato e la gestione strategica degli asset, mentre dismette gli asset non redditizi.
Paragon Technologies (OTC PINK:PGNT) ha reportado sus resultados financieros para el año que terminó el 31 de diciembre de 2024. La compañía alcanzó ingresos de 126 millones de dólares, un ligero aumento con respecto a los 125 millones en 2023, manteniendo un ingreso neto de 1.1 millones de dólares.
Los ingresos antes de impuestos e intereses no controladores alcanzaron 2.9 millones de dólares en 2024, en comparación con los 2.7 millones de 2023. La empresa incurrió en gastos legales de 896,392 dólares, significativamente inferiores a los 1,963,842 dólares de 2023. El portafolio de inversiones registró pérdidas realizadas de 749,000 dólares y ganancias no realizadas de 277,000 dólares.
Bajo el liderazgo del CEO interino Sam Weiser, Paragon está implementando cambios estratégicos, incluyendo una mejor gobernanza corporativa, la separación de los roles de CEO y Presidente, y la adición de tres directores independientes. La compañía se está enfocando en la eficiencia operativa, el crecimiento de ingresos y la gestión estratégica de activos, mientras desinvierte en activos no rentables.
파라곤 테크놀로지스 (OTC PINK:PGNT)는 2024년 12월 31일로 종료된 회계연도의 재무 결과를 보고했습니다. 회사는 1억 2600만 달러의 수익을 달성했으며, 이는 2023년의 1억 2500만 달러에서 약간 증가한 수치입니다. 110만 달러의 순이익을 유지했습니다.
세금 및 비지배 지분을 제외한 수익은 2024년에 290만 달러에 도달했으며, 이는 2023년의 270만 달러에서 증가한 것입니다. 회사는 896,392달러의 법적 비용을 발생시켰으며, 이는 2023년의 1,963,842달러보다 상당히 낮은 수치입니다. 투자 포트폴리오는 749,000달러의 실현 손실과 277,000달러의 미실현 이익을 기록했습니다.
임시 CEO인 샘 바이저의 지도 아래, 파라곤은 전략적 변화를 구현하고 있으며, 여기에는 향상된 기업 거버넌스, CEO와 의장 역할의 분리, 세 명의 독립 이사 추가가 포함됩니다. 회사는 운영 효율성, 수익 성장 및 전략적 자산 관리를 중점적으로 추진하며, 비수익 자산을 매각하고 있습니다.
Paragon Technologies (OTC PINK:PGNT) a publié ses résultats financiers pour l'année se terminant le 31 décembre 2024. L'entreprise a réalisé un chiffre d'affaires de 126 millions de dollars, une légère augmentation par rapport à 125 millions de dollars en 2023, tout en maintenant un bénéfice net de 1,1 million de dollars.
Le revenu avant impôts et intérêts minoritaires a atteint 2,9 millions de dollars en 2024, en hausse par rapport à 2,7 millions de dollars en 2023. L'entreprise a engagé des frais juridiques de 896,392 dollars, bien inférieurs aux 1,963,842 dollars de 2023. Le portefeuille d'investissement a enregistré des pertes réalisées de 749,000 dollars et des gains non réalisés de 277,000 dollars.
Sous la direction du PDG par intérim Sam Weiser, Paragon met en œuvre des changements stratégiques, y compris une gouvernance d'entreprise améliorée, la séparation des rôles de PDG et de Président, et l'ajout de trois administrateurs indépendants. L'entreprise se concentre sur l'efficacité opérationnelle, la croissance des revenus et la gestion stratégique des actifs tout en se déchargeant des actifs non rentables.
Paragon Technologies (OTC PINK:PGNT) hat seine finanziellen Ergebnisse für das Jahr zum 31. Dezember 2024 veröffentlicht. Das Unternehmen erzielte Umsätze von 126 Millionen Dollar, ein leichter Anstieg im Vergleich zu 125 Millionen Dollar im Jahr 2023, während es einen Nettogewinn von 1,1 Millionen Dollar beibehielt.
Das Einkommen vor Steuern und nicht beherrschenden Anteilen erreichte 2,9 Millionen Dollar im Jahr 2024, ein Anstieg von 2,7 Millionen Dollar im Jahr 2023. Das Unternehmen hatte rechtliche Ausgaben von 896.392 Dollar, die deutlich unter den 1.963.842 Dollar von 2023 lagen. Das Anlageportfolio verzeichnete realisierte Verluste von 749.000 Dollar und nicht realisierte Gewinne von 277.000 Dollar.
Unter der Leitung von Interims-CEO Sam Weiser implementiert Paragon strategische Veränderungen, darunter verbesserte Unternehmensführung, die Trennung der Rollen von CEO und Vorsitzendem sowie die Hinzufügung von drei unabhängigen Direktoren. Das Unternehmen konzentriert sich auf betriebliche Effizienz, Umsatzwachstum und strategisches Asset Management, während es unrentable Vermögenswerte veräußert.
- Revenue increased to $126M from $125M YoY
- Pre-tax income improved to $2.9M from $2.7M YoY
- Legal expenses decreased by 54% to $896K from $1.96M
- Enhanced corporate governance with new independent directors
- Net income remained flat at $1.1M despite revenue growth
- Investment portfolio recorded net losses of $472K
- SI Systems performance remains below historical results
- Significant ongoing legal costs impacting profitability
EASTON, PA / ACCESS Newswire / March 31, 2025 / Paragon Technologies, Inc. (OTC PINK:PGNT), a diversified holding company, today announced its financial results for the full year ended December 31, 2024.
"Paragon generated a return for shareholders comparable to last year despite the drag of significant legal costs in both 2024 and 2023 related to litigation initiated by the company's former Chairman and CEO and legal costs associated with the Ocean Power Technologies pursuit. Legal expense in 2024 totaled
Mr. Weiser highlighted the company's strategic shift, commenting, "Paragon Technologies today is focused on becoming an operationally focused, growth-driven business. Over the past four months, we've begun transforming Paragon Technologies. The board has reinforced its commitment to robust corporate governance by adopting new committee charters, adopting enhanced corporate policies and separating the CEO and Chairman roles. The addition of these three highly qualified, independent directors to our board in December 2024, each bringing diverse expertise in finance, strategy, and operations, signifies dedication to our vision and creation of long-term shareholder value. Collectively, we continue to carefully consider and implement initiatives aligned with our overarching strategic vision to create shareholder value through sustainable and responsible growth. We look forward to sharing our comprehensive growth strategy in the coming weeks."
Full Year 2024 Results
Revenue for the full year 2024 increased to
Paragon Technologies, Inc.'s Consolidated Statement of Operations for the twelve months ended December 31, 2024, are summarized below. For further detail on our results, shareholders should carefully review our annual report, which can be found at www.pgntgroup.com. The company will be hosting a call for shareholders in late April. Details will be provided on the company's website and through a separate press release providing the timing and call-in details.
Consolidated Statements of Income and Comprehensive Income (Loss)
For the Years Ended December 31, 2024, 2023, 2022
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. For additional information please visit: www.pgntgroup.com.
Investor Relations Contact:
Alliance Advisors IR
ParagonIR@allianceadvisors.com
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 ACCESS Newswire
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