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Methode Electronics Faces Looks Fairly Valued After Nordic Lights (NYSE:MEI)

October 8, 2023 Audrey

Kit de entrenamiento de robots de IA e ingeniería mecatrónica en la sala de la academia de automatización de fabricación y robótica — Amorn Suriyan/iStock via Getty Images

Methode Electronics, Inc. (NYSE:MEI) has made a notable move by acquiring Nordic Lights. While this acquisition has the potential to influence the company’s direction significantly, I believe certain aspects of MEI’s financial performance in FY 2023 warrant attention. Specifically, the post-acquisition figures indicate a decline in MEI’s EBIT margins and net sales. This raises questions about the integration challenges and the overall efficacy of the acquisition strategy. Furthermore, I find MEI’s capital allocation decisions somewhat perplexing, especially in light of the declining margins. I believe a more cautious approach to cash management would have been advisable. Instead, MEI has adopted a more aggressive stance, leading to decreased cash reserves and an uptick in debt post-acquisition. Based on my valuation model, it appears that MEI’s current valuation is close to being fairly priced. Given these observations and the inherent uncertainties, I would recommend a neutral stance on MEI for now.

Business Overview

Methode Electronics, Inc. (MEI) is a global company that designs and produces mechatronic products, catering to OEMs in sectors like automotive, aerospace, and medical devices. Organized into four segments – Automotive, Industrial, Interface, and Medical – they contribute 54.6%, 39.8%, 5.2%, and 0.4% to the total revenues, respectively. Specifically, the Automotive segment, spearheaded by the Methode Electronics Automotive Group, delivers user interfaces and power solutions, further enhanced by Methode Sensor Technologies’ sensor solutions. Grakon, a key player in the Industrial segment, specializes in custom lighting. The Interface segment boasts brands such as dataMate for data networking and TouchSensor for cutting-edge touch technologies. On the medical front, Dabir Surfaces Inc. innovates in medical device technologies, aiming to elevate patient outcomes.

I believe MEI’s diverse portfolio highlights its adaptability and provides a competitive edge in addressing a wide spectrum of OEM needs. This multifaceted strategy positions MEI for steady revenue inflow from various sectors. However, as I’ll explain, monitoring EBIT margins is crucial, especially in light of recent acquisitions.

Author's elaboration. — Author’s elaboration.

Analyzing the revenue distribution of MEI, it’s evident that the company has a significant market presence in North America, Europe, the Middle East & Africa (EMEA), and Asia. Specifically, North America contributed $122.8 million, EMEA added $103.3 million, and Asia accounted for $63.6 million of the total net sales, totaling $289.7 million. In my view, this distribution suggests that MEI has been successful in its strategic efforts to diversify its market exposure. The acquisition of Nordic Lights Group Corporation further supports this inference, indicating a deliberate move by MEI to expand its geographic footprint. This diversification is crucial as it mitigates risks associated with market concentration and positions the company to tap into emerging opportunities in different regions.

Recent Performance and Post-Acquisition Implications

Indeed, MEI’s acquisition of Nordic Lights Group Corporation is a significant highlight for MEI, enhancing LED lighting solutions, diversifying market exposure, extending its presence in industrial and non-auto transportation markets, and broadening its customer base and geographic reach. This aligns with a recent slight change in revenue distribution over the

Chicago’s Joffrey Ballet Faces Backlash More than Russian Ballet Programming

February 27, 2023 Audrey

In March 2022, The Joffrey Ballet announced their 2022/2023 year, which provided Leo Tolstoy’s Anna Karenina, choreographed by Russia’s Yuri Possokov. The generation is scheduled to operate from February 15th through 26th, 2023.

That announcement didn’t make waves, but adhering to a article marketing the forthcoming performances on Fb on January 30th, Chicago’s Ukranian Neighborhood and their supporters have taken to the system and in other places to vocalize their objections to the endorsing of Russian lifestyle though the state carries on to invade Ukraine.

“Disgrace on you. Russia is killing Ukrainian ballet dancers but you imagine it can be a very good plan to advertise Russian tradition?” wrote a single commenter.

“Russia has [the] blood of harmless men and women on its arms, such as dancers. This is a disgrace to market their society at this time.” wrote an additional.

In a statement, the Ukranian Confress Committee of The united states – Illinois Division wrote “The Ukrainian Congress Committee of America vehemently condemns the immoral use of cultural occasions to market the image of russia as a condition of wonderful culture, that attempts to legitimize Putin while he conducts the legal unprovoked war versus Ukraine, and the intentional genocide of the Ukrainian folks. Millions are witnessing the horrors committed by russia in Ukraine, when society is utilised as a software to influence audiences to the acceptance of Russia as a cultured benign region, when making use of the splendor of ballet and songs.”

“On behalf of all the victims who have been killed, and these nevertheless struggling, we make this assertion to condemn the use of cultural functions to market Russia’s beneficial image, and its callous acceptance throughout the Russian continuation of horrific agonies.”

Chicago has the next greatest Ukranian local community in the United States, with New York using the leading spot. There are aproximately 200,000 Ukranian People in america who dwell in Illinois, and 50,000 of them reside in Chicago.

Information retailers have claimed that Ukranian Ballet dancers have been killed on the battlefield, like the Countrywide Opera of Ukraine’s Oleksandr Shapoval. As of February 8th, 42,000 people have died as a result of Russia’s invasion in Ukraine, 15,000 men and women have been described lacking, and 14 million have been displaced. 140,000 structures have been weakened valued at aproximately $350 billion.

In a assertion to Parade, The Joffrey wrote “The Joffrey Ballet stands with Ukraine, and we hold Ukrainians in our hearts whilst applauding their bravery. We hope their discomfort and oppression ends in peace. Considering the fact that our founding in 1956, we have engaged artists from close to the environment to convey to powerful tales that check out human emotion. Artistic adaptations of historical parts of literature about our humanity have the transformative power to produce a place for which means, reflection and therapeutic although making it possible for us to join to our earlier, existing, and long run.”

The Joffrey, in their season announcement, explained the generation as “Really like is all-consuming

Russia develops ‘Covid for computers’ which makes use of porn to disable laptops & phones as fears develop British isles faces cyber attack

March 10, 2022 Audrey

RUSSIA has developed a “Covid for computers”, which makes use of porn to disable laptops and phones.

The powerful piece of malware – which Russia has been perfecting in excess of two many years – could infect thousands and thousands of personalized devices across the British isles.

Russia has developed 'Covid for computers' which has the potential to disable millions of personal devices — Russia has made ‘Covid for computers’ which has the possible to disable thousands and thousands of personalized devices

Vladimir Putin is set to launch a massive revenge cyber attack on Britain and NATO allies — Vladimir Putin is established to launch a large revenge cyber assault on Britain and NATO alliesCredit: EPA

Keyboard warriors from Russia’s spy agencies the FSB and GRU are poised to unleash a wave of cyberattacks in retaliation to crippling Western sanctions, according to a former cyber spy.

They told the Sunday Mirror: “One click on an engaging video clip is plenty of to introduce malware into your laptop or computer or cellular.

“The information for secure cyber sex is the very same as for authentic intercourse – use defense.”

Users are currently being urged to put in the hottest security application on units to ward off any attack.

Folks are also being informed to preserve all sensitive details on a laptop computer not linked to the world wide web so viruses can not destroy it.

Professionals have warned that these types of an assault would have devastating repercussions for Britain’s financial state and the general public.

Investigation from the Sunday Situations demonstrates the malware has the potential to shut off access to the internet – which suggests no Google, Instagram or any messaging providers.

It would also see funds machines pulled offline and a full disabling of computer systems that would leave folks not able to verify lender accounts.

H2o provides and electrical power community could also be lower off, industry experts say.

Danny Lopez, head of cybersecurity at Glasswall, said today’s interconnected electronic globe has made debilitating attacks much easier to execute.

? Study our Russia – Ukraine dwell site for the very most up-to-date updates

“The principal goal of a cyberattack is to cause highest disruption, confusion, concern and chaos,” he advised the Sunday Situations.

He claimed any these kinds of attacks would goal “significant infrastructure” such as the supply of electricity, electricity, fuel, h2o and transportation.

“A energy slash, or, say, a decline of crucial record entry at a clinic, for occasion, could sad to say have a significant impression on our life,” he reported.

It arrives as the National Cyber Protection Centre registered 777 tried breaches of important infrastructure final year as Russian, China, North Korea and Iran allegedly tried to infiltrate 4 in ten firms.

Little organizations and people today devoid of an knowledge of cyber protection are most at possibility.

It arrives as…

The Solar can reveal British cyber intelligence is on superior inform anticipating that hackers will infiltrate remaining Ukrainian networks, NATO systems or Whitehall desktops.

The senior intelligence resource explained they were “braced” for retaliation but was surprised it had not however took place.

Last week NATO chief Jens Stoltenberg warned a hack

Bowser faces 10 years in jail, $4.5M in damages in Nintendo piracy case

November 6, 2021 Audrey

Bowser faces 10 years in jail, .5M in damages in Nintendo piracy case

Nintendo has won a major victory in a case against 52-year-old Canadian Gary Browser, a member of hacking group Team-Xecuter who was arrested in 2020. Bowser, better known as GaryOPA online, plead guilty to two counts: “conspiracy to circumvent technological measures and to traffic in circumvention devices” alongside other members of Team-Xecuter, and “trafficking in circumvention devices,” as laid out in a plea agreement filed on October 28 and obtained by Torrentfreak. He now faces a maximum sentence of 5 years in prison for each count.

Nintendo has become increasingly aggressive over the last several years in pursuing ROM websites and hardware hackers who make it possible to run pirated software on the Switch. Team-Xecuter was behind a custom firmware called SX OS, which it sold through a network of resellers—a controversial for-profit enterprise, considering most custom firmware development is free and open source.

Nintendo went after resellers first and has already won some cases, but the case against Team-Xecuter got the US Justice Department involved. Bowser, who bears no relation to improbably named Nintendo of America president Doug Bowser, was indicted alongside other Team-Xecuter members Max Louran, who was arrested in Canada and has yet to be extradited, and Yuanning Chen, who remains at large. Bowser was arrested in the Dominican Republic and extradited to the US to face 11 felony counts, including wire fraud and money laundering.

As laid out in the plea agreement, the government made the case that “while the enterprise attempted to cloak its illegal activity with a purported desire to support homebrew enthusiasts who wanted to design their own games, the predominant and primary design of the enterprise’s products was teo allow purchasers to play pirated ROMs.” The plea agreement states that Bowser ran the website maxconsole.com, which hosted information about Team-Xecuter’s products, and that the team “created and supported ROM libraries of games that could be used by the enterprise’s customers.”

Some of the resellers also sold custom firmware bundled with packages of ROMs, which seems like a sure way to blow any deniability about customers purchasing your product for the sake of piracy. Likewise, Team-Xecuter required users to pay an additional license to play “backups” of their games, fuel for the government’s claim that Team-Xecuter sold its devices first and foremost for the sake of piracy.

The US government claims Team-Xecuter earned “at least tens of millions of dollars” from selling SX OS devices, while Bowser himself estimated he earned $320,000 from running maxconsole.com and collecting advertising revenue. After pleading guilty, Bowser has been ordered to pay $4.5 million in restitution to Nintendo.

Bowser still faces sentencing that will determine his prison term, but that won’t necessarily be the end of his legal troubles. He’s facing another suit from Nintendo itself, filed earlier this year, for further damages—though unless he has an actual castle filled with gold coins, $4.5 million seems like it may already take a lifetime to pay off.

https://www.pcgamer.com/bowser-faces-10-years-in-jail-and-dollar45-million-in-damages-in-nintendo-piracy-case/…