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Star Equity Holdings, Inc. is a diversified holding company focused on enhancing stockholder value through operational excellence, strategic proficiency, and efficient capital allocation. The company operates through two primary segments: construction and investments.
Under the construction segment, Star Equity Holdings Inc engages in manufacturing modular housing units for commercial and residential uses. This segment comprises modular building manufacturing, structural wall panel and wood foundation manufacturing, and building supply retail operations.
On the other hand, the investments segment oversees the company's corporate-owned real estate assets, including manufacturing facilities in Maine that are leased back to KBS and other businesses. Star Equity Holdings Inc primarily generates revenue from its construction activities.
Additionally, the company's investment division manages real estate assets and investment positions in both private and public companies, contributing to its diversified portfolio.
Star Equity Holdings reported a 12.1% increase in Q1 2022 revenues to $25.0 million and a significant 51.5% rise in gross profit to $4.7 million, driven mainly by the Construction division, which posted a 191.5% profit increase. Despite these gains, the company faced a net loss of $3.7 million or $0.29 per share. Cash and equivalents increased to $15.0 million, with reduced net debt of ($1.7 million). The successful completion of a $14.3 million public offering positions the company for growth.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) announced a cash dividend of $0.25 per share for its 10% Series A Cumulative Perpetual Preferred Stock. The record date is June 1, 2022, while the payment date is set for June 10, 2022. The company's diverse operations span three key divisions: Healthcare, Construction, and Investments, focusing on medical imaging products, modular housing units, and real estate management. This dividend declaration reflects the company's commitment to delivering income to preferred stockholders.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) will release its Q1 2022 financial results on May 23, 2022, before market opening. A conference call is scheduled for the same day at 10:00 a.m. ET to discuss the results and management's outlook. Star Equity operates in three divisions: Healthcare, providing diagnostic services and imaging products; Construction, manufacturing modular housing; and Investments, managing real estate assets. An archived replay of the call will be available shortly after.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) announced a historic $9 million contract for its KBS Builders, Inc. to manufacture 72 modules for new dormitories at a New England college. This project marks KBS's largest contract and its entry into the student housing market, with production set to start in Q2 2022. Executive Chairman Jeff Eberwein expressed enthusiasm, highlighting the deal's potential to boost KBS's growth and capitalize on increasing acceptance of modular manufacturing.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) appointed Richard K. Coleman, Jr. as CEO, effective April 1, 2022. Coleman, who previously served as COO, brings over 30 years of executive leadership experience across various industries. His appointment is expected to drive business growth and operational efficiency. The company, which operates in Healthcare, Construction, and Investments sectors, is focused on generating shareholder value amidst expanding opportunities.
Star Equity Holdings, scheduled to participate in a fireside chat on March 30, 2022, at the Maxim Group Virtual Growth Conference, is a diversified holding company with three divisions: Healthcare, Construction, and Investments.
Executive Chairman Jeff Eberwein will represent the Company at 11:00 am ET. The Healthcare division focuses on diagnostic medical imaging products and mobile services, while Construction manufactures modular housing units. Interested investors can schedule meetings with management via email.
Star Equity Holdings, Inc. reported Q4 2021 revenues of $29.5 million, marking a 27.6% increase from the previous year. The Healthcare division's revenue rose by 16.9%, while Construction saw a 42.3% surge. Gross profit jumped 77.6% to $6.9 million. However, the net loss from continuing operations widened to $4.4 million ($0.84 per share). For FY 2021, total revenue grew 36.3% to $106.6 million, yet the net loss increased to $8.9 million. The company completed a public offering in January 2022, raising $14.3 million to support growth and acquisitions.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) is set to release its financial results for the fourth quarter and full year ending December 31, 2021, on March 22, 2022, before markets open. A conference call will follow at 10:00 a.m. ET to discuss the results and management's outlook. Star Equity operates in three main sectors: Healthcare, Construction, and Investments, providing diverse services including diagnostic imaging and modular housing manufacturing.
Star Equity Fund, LP calls for major changes to the board of Servotronics, Inc. (SVT), citing long-term shareholder value destruction. The fund has nominated a qualified slate of candidates for the upcoming 2022 Annual Meeting, urging the current board to refrain from actions that could hinder shareholder rights. The incumbent board is criticized for ineffective governance practices, including the lack of independent directors and support of unprofitable divisions. Star Equity Fund aims to ensure fiduciary responsibility and maximize shareholder value.
Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) announced a cash dividend of $0.25 per share for its 10% Series A Cumulative Perpetual Preferred Stock. The record date for this dividend is March 1, 2022, with the payment date set for March 10, 2022. The Company operates three divisions: Healthcare, Construction, and Investments, offering various services from diagnostic medical imaging to modular housing manufacturing.
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