Welcome to our dedicated page for Steel Connect news (Ticker: STCN), a resource for investors and traders seeking the latest updates and insights on Steel Connect stock.
Steel Connect, Inc. (symbol: STCN) is a diversified holding company with a strong presence in the Direct Marketing and Supply Chain sectors. The company’s core operations are structured around providing integrated solutions that cater to the detailed needs of its clients. By leveraging its extensive expertise, Steel Connect enhances client revenue, reduces costs, and optimizes sustainability and customer experience outcomes.
Originally known as ModusLink Global Solutions, Inc., Steel Connect has evolved into a trusted partner for leading companies across various industries such as consumer electronics, communications, computing, medical devices, software, and retail. The company’s infrastructure supports more than $80 billion of client revenue annually and handles approximately 451 million product shipments across over 25 sites in North America, Europe, and the Asia/Pacific region.
The Direct Marketing segment is Steel Connect’s largest revenue generator. This segment helps businesses create and implement effective marketing strategies that drive customer engagement and sales. From multi-channel marketing campaigns to customer data analytics, Steel Connect offers a comprehensive suite of services designed to maximize business outcomes.
The Supply Chain segment focuses on optimizing logistics and supply chain operations. Steel Connect provides scalable and flexible solutions that accommodate the varying needs of its clients. Services include everything from warehousing and distribution to inventory management and product returns. By streamlining these processes, the company ensures efficient and cost-effective operations.
Geographically, Steel Connect draws its majority revenue from the United States, while also maintaining significant market presence in China, the Netherlands, and other parts of the world. The company’s broad international footprint allows it to serve a diverse client base, each with unique requirements and market dynamics.
Steel Connect continues to innovate and expand its service offerings to meet the evolving needs of its clients. The company is committed to delivering high-quality solutions that foster growth and efficiency across all touchpoints of the supply chain and marketing ecosystems.
For more details on Steel Connect's solutions and recent achievements, visit www.moduslink.com and Value Unchained, the blog dedicated to supply chain professionals.
Steel Connect (NASDAQ: STCN) reported Q1 fiscal 2025 results with net revenue of $50.49 million, up 22.1% from $41.34 million in Q1 2024. Net income decreased to $2.37 million from $4.44 million year-over-year. The company showed significant improvement in gross profit margin, increasing 630 basis points to 34.1%. Adjusted EBITDA rose to $7.38 million from $3.31 million, with margin expanding to 14.6%. The company maintained strong liquidity with $233.9 million in cash and cash equivalents.
Steel Partners Holdings announced plans for a short-form merger to acquire remaining STCN shares at $11.45 per share in cash.
Steel Connect (NASDAQ: STCN) reported its Q4 and fiscal year 2024 results. Q4 net revenue increased 12.4% to $45.9 million, driven by higher volumes in computing and consumer electronics markets. However, fiscal year 2024 revenue decreased 7.9% to $174.1 million. Q4 net income decreased 19.8% to $6.5 million, while fiscal year net income significantly increased to $88 million, primarily due to a $73.4 million tax benefit. The company maintained strong liquidity with $248.6 million in cash and cash equivalents as of July 31, 2024, and paid off its SPHG Note upon maturity on September 1, 2024.
Steel Connect (NASDAQ: STCN) released its third-quarter financial results for fiscal 2024 ended April 30. The company reported a significant non-cash income tax benefit adjustment of $71.5 million due to the release of a portion of its valuation allowance for deferred tax assets. Net revenue decreased by 5% to $43.85 million, primarily due to lower volumes in computing and consumer electronics markets. However, net income surged to $71.66 million from $3.03 million year-over-year. Adjusted EBITDA also saw a decline of 14.9% to $4.45 million. Despite lower sales and increased capital expenditures, the company maintained liquidity with $269.2 million in cash and equivalents.
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