Select Interior Concepts, Inc. - SIC STOCK NEWS

Select Interior Concepts (NASDAQ: SIC) announced its expansion into Boise, Idaho, increasing its Residential Design Services (RDS) locations to 32. This strategic move reinforces its partnership with Woodbridge Pacific Group, aimed at supporting the construction of high-quality homes in the region. CEO L.W. Varner expressed excitement about servicing a new market while leveraging over two decades of collaboration with Woodbridge. Construction will begin in mid-2021, enhancing SIC's position in the interior building products sector.

Sokoman Minerals Corp. has successfully acquired the Fleur de Lys Project, encompassing 1,891 claims (47,275 hectares) in Newfoundland's Baie Verte Peninsula through staking and option agreements. This project is geologically comparable to the UK’s Curraghinalt Deposit, hosting unexplored gold anomalies. The acquisition is primarily for staking costs, enhancing Sokoman's portfolio alongside its flagship Moosehead Project, with potential for significant gold deposits. Historical exploration has been minimal, indicating opportunities for development.

Select Interior Concepts, Inc. (SIC) has appointed Karl Adrian as President of Residential Design Services effective March 1, 2021. CEO Bill Varner expressed enthusiasm over Adrian's extensive experience in sales, marketing, and operations, pointing to his previous roles, including CEO of Clio Holdings and COO at Senneca Holdings. CFO Nadeem Moiz highlighted Adrian's expertise in driving revenue growth and operational excellence. SIC is a prominent distributor and installer of interior building products, focusing on integrated design and installation services across various sectors.

Select Interior Concepts (NASDAQ: SIC) will release its financial results for Q4 and the full year ended December 31, 2020, on March 15, 2021, before market open. CEO L.W. Varner Jr. and CFO Nadeem Moiz will host a conference call at 9:00 AM ET to discuss these results. Investors can participate via a dedicated phone line or webcast, with a replay available post-call. The company, based in Atlanta, specializes in installing and distributing interior building products across various segments including Residential Design Services and Architectural Surfaces Group.

Select Interior Concepts, listed on NASDAQ as SIC, announced participation in the Truist 2020 Industrials and Services Summit on December 8, 2020. CEO Bill Varner and COO/CFO Nadeem Moiz will represent the company at this virtual event, meeting with institutional investors. An investor presentation will be accessible on the company's website. Select Interior Concepts is a leading installer and distributor of interior building products, providing solutions in flooring, cabinets, and countertops, among other areas.

Select Interior Concepts (SIC) reported a net loss of ($6.6 million) for the first nine months of 2020, with net sales down 9.9% to $409.9 million compared to 2019. In Q3 2020, sales fell 5.9% to $150.1 million, resulting in a net income of $0.5 million, or $0.02 per share. Both gross profit and EBITDA decreased to $38.6 million and $10.5 million respectively. The company's liquidity stood at $67.8 million, aided by $5 million in cost savings during Q3 due to COVID-19 measures. CEO Bill Varner emphasized ongoing improvement initiatives aimed at enhancing long-term value.

Select Interior Concepts, Inc. (NASDAQ: SIC) will release its financial results for Q3 2020 on November 5, 2020, before market opening. A conference call will follow at 9:00 AM EDT, hosted by CEO L.W. Varner Jr. and CFO Nadeem Moiz. The company specializes in interior building products, offering design and installation solutions. Forward-looking statements are included, indicating potential risks related to the COVID-19 pandemic, which may impact future performance.

Select Interior Concepts (SIC) announced the continued rollout of its Momentum Design™ virtual design studio through its Residential Design Services (RDS) subsidiary, partnering with Woodside Homes for their Villas at Cypress Ridge in Phoenix, AZ. This platform allows homebuyers to visualize selections and costs from home, enhancing personalization in the home-buying process. Positive feedback from buyers has been noted, and RDS emphasizes operational excellence and seamless integration, making it appealing for builders seeking innovative design solutions.

Select Interior Concepts (SIC) announced the appointment of Satish Kalala as its first Chief Technology Officer. His role aims to enhance SIC's IT strategy, focusing on scalability and competitive advantages through technology. With over 20 years of experience, including previous advisory work with SIC, Kalala is expected to spearhead initiatives targeted at revenue growth and cost improvements. This strategic move is part of SIC's effort to strengthen corporate infrastructure and optimize revenue performance.