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Sean ‘Diddy’ Combs’ third bid to be released on bail won’t be decided until next weekFor decades, it was all about Margaret. Sure, Norma, Joyce, Betty and Beryl had their moments in the sun, but in mid-20th century Australia, Margaret was overwhelmingly the most popular girl’s name. There was barely a year between 1929 and 1952 when Margaret wasn’t top of the heap for newborn girls. Worldwide, too, it was the era of Margarets: Thatcher (the PM), Windsor (the princess), Attwood (author of ), Olley and Preston (artists), Court (tennis star) and, at a pinch, actress Ann-Margret (of fame – ). Then, in 1953, this incredible reign just ended. Having already slipped to second spot in NSW, in Victoria the drop was precipitous. Margaret pushed aside by Susan, Christine and Jennifer. By 1956, according to state records, Julie and Karen were more popular too; the year after, Debra and Wendy squeezed Margaret further down the ranks. Just over a decade later, she couldn’t make the top 50, buried in a sea of Lisas, Sharons, Susans and the new frontrunner, no doubt inspired by the Beatles song of the same name from 1965, . Margaret occasionally made the top 100 – just – in the early 1970s and mysteriously popped up in Victoria’s top 50 in 2000, incongruously surrounded by her Generation-Z cousins Taylah, Mia, Chelsea, Zoe and Maddison. And then she was gone from the top of the charts for good. Audrey, an ancient Anglo-Norman name, similarly prevailed through the 1930s only to vanish, notwithstanding the popularity of Audrey Hepburn’s 1961 film . Yet despite being sent to Siberia for decades, Audrey suddenly reappeared in 2007 and last year, hers was the 26th-most popular baby name in Victoria and 33rd in NSW. Why do names fall in and out of favour? Why do some get “upcycled” through the generations (Daisy, Jack, William, Ruth) while once “It” names like Donald, Phyllis, Doreen, Roslyn, and Frank don’t so much? How much does your own name date you? If you believe the 1966 Hollywood caveman epic , whose promotional material confidently promised “this is the way it was”, prehistoric people had names such as Tumak, Sakana and Nupondi. In her breakout role, Raquel Welch played the animal-skin-clad tribeswoman Loana. It’s not completely outlandish, evolutionary social psychologist Francis McAndrew tells us from Knox College in Illinois. “There really is no historical record that goes back far enough to document this,” he says. “In our early prehistoric societies, everyone knew everyone else personally, so names would not have been necessary to identify someone in the modern sense. However, there had to be some way of referring to individuals when they were discussed, so some sort of naming had to occur pretty early.” First, or single, names (think Madonna, Maradona, Plato, Elvis) were the norm by the time writing was scratched into clay tablets in Egypt, China and Mesopotamia around 3200 BC. Some historians cite the first mention of a name as probably that of a public servant in the Mesopotamian city of Uruk (in present-day Iraq) who “signed” their tablets “Kushim” in . Tablets from the Sumerian empire of 3100 BC record the names of slave owner Gal-Sal and slaves Enpap-x and Sukkalgir. Those may have dropped out of common usage (actually, why not Enpap-x?) but a handful of ancient monikers are still relatively common: the Greek names Alexander and Alexandra are in records kept by the Hittites around 1280 BC; Theodora dates from at least this time; in Scandinavia you might have met a Freya (named for the Norse goddess of love, fertility, battle and death). Susan is believed to have its origins in the ancient Egyptian word for water lily, sSn, possibly via the Hebrew Shoshanah and the ancient Greek Sousanna. Noah, the second-most popular boy’s name for babies born in NSW in 2023 and the most popular name in several European nations, dates back to the ark, of course. Single names today are usually the preserve of celebrities, either because they adopt their own (Rihanna, Sting, Bono, Morrissey) or that’s how they become known (Bowie, Jagger, Adele). Brazilian soccer players, too, commonly choose to go by a single name, or mononym (Ronaldo was born Ronaldo Luís Nazário de Lima; Pelé, Edson Arantes do Nascimento). In 1970, a Brazilian child was named Tospericargerja after the football team that won the soccer World Cup that year: “Tos” from Tostão, “pe” from Pelé, “ri” from Rivelino, “car” from Carlos Alberto, “ger” from Gérson, and “ja” from Jairzinho.) In everyday life, a person who changed his birth name to a mononym tells us, a single name can be problematic – filling out forms online, for example, usually requires two names in two boxes. “Every system should cope with the full variety of naming practices that exist in Australia, and most don’t,” says Stilgherrian, a freelance journalist and commentator from Sydney, who legally changed his name decades ago. “I get into lots of conversations about, where did it come from? One of the most popular guesses is that it’s Armenian. If nothing else, it’s a conversation starter.” The widespread adoption of surnames arrived much later, possibly first in ancient China, around 2000 years ago, to facilitate census-taking. The Romans, too, favoured multiple names, which might relate you to your clan or tribe. He of Brutus fame was Marcus Junius Brutus; a fellow assassin, Gaius Cassius Longinus. By the early Middle Ages in the Arabic-speaking world, it became common to take a surname that referenced both your lineage – “son of” – and your origins, perhaps from a famous ancestor or place. It’s believed the Norman conquest of 1066 popularised the idea of surnames to the early Britons; the invading Frenchmen referenced their home towns in a surname. Meanwhile, as the human population grew, along with growth in trade and the desire to collect taxes, it grew increasingly difficult to identify people by their first names alone – “John who?” Says McAndrew: “Many, if not most, surnames developed as a way of identifying people either by occupation or by the geographical location from which they came.” Think Hill or Craig, from crag, or de Porta. And, at least in English-speaking lands, Archer, Baker, Cook, Constable, Farmer, Fisher and Hunter. “It seems like people had to start talking about John the carpenter to distinguish him from John the tailor or John from Kerry.” Francis’ own surname, McAndrew, derives from one of his ancestors being the “son of Andrew”. Some countries and cultures are relatively laissez-faire about names. In Australia, while rules vary from state to state, you can be pretty creative – with a few caveats. In both NSW and Victoria, for example, you can choose whatever you like as long as it is not obscene or offensive; not more than 38 characters long (in Victoria) or 50 (in NSW); does not contain characters that are unpronounceable, such as “A!3xand3er Brown”; and is not misleading, such as “Commander” or “Duke of Edinburgh”. (The singer Prince would have failed on several counts, especially when he changed his name to an indecipherable symbol.) In both states, the registries of births, deaths and marriages can scotch “impractical” names, such as “Alexander is the Best Brown” or “A.L.E.X.A.N.D.E.R Brown”. Overseas, Chinese first names traditionally consist of one or two characters that are given to symbolise the parents’ aspirations for a child’s characteristics, such as 欣妍 (Xīn yán, meaning “vitality or beauty”) and 可欣 (Kě xīn, “merits admiration”). It’s not uncommon for Chinese nationals to change their given names several times during their lifetime nor for younger people, particularly students of English, to adopt a Western-sounding nickname, such as Eric or Wellington. “I have had students who change nicknames three times in one year,” says Peyman Sabet, who teaches at Curtin University in Perth. “It’s as simple as, one morning, they will say they’re changing their nickname.” Arabic names are generally divided into three parts: given, middle and family. The middle names reference forebears: the Saudi ruler commonly known as “MBS” has the full name Mohammed bin Salman bin Abdulaziz bin Abdul Rahman Al Saud (“bin” meaning son of). Many Muslims will give their sons Muhammad (or variant spelling) as a first name, then, to distinguish them from other Muhammads, a second name they use in daily life, such as Muhammad Firas or Muhammad Hosni. Muhammad is the most common name in the world, but only recently began to chart in the most popular names in Australia; it’s now the 36th-most popular boy’s name in NSW, and 27th in Victoria. Arabs might also be known by their kunya, an alternate name that references their oldest child, traditionally the eldest son (but not necessarily today). This follows the style “Abu (father of) Ali” or “Umm (mother of) Fatima”. In Japan, naming can prove controversial. There was outrage in 1993, for example, when parents wanted to call their daughter Akuma, meaning devil; and, in 2019, an 18-year-old named his life had been filled with shame and embarrassment as a result of his parents’ decision. The government has recently clamped down on unconventional choices. Parents’ choices have reflected societal changes, says Ivona Baresova, a Czech researcher who has studied Japanese and Taiwanese naming conventions. “At the end of the 19th century, names given to girls often drew inspiration from resilient plants such as pine, cedar, bamboo and chrysanthemum, symbols of strength, health and longevity, which were vital in an era marked by high infant mortality and challenging living conditions. Today, plant-inspired feminine names reflect a different ideal. Modern names often feature flowers like jasmine, cherry, or apricot blossoms, evoking an image of beauty, affection and kindness, qualities appreciated in contemporary life.” Parents can run foul of naming regulations in Scandinavia, too. In 1999, Finns Mika and Jaana Johansson named their son “Axl Mick” but were refused by the Population Registration Authority as the spelling did not comply with Finnish naming practice. The couple pursued the authority through the courts, arguing that Axl was common in Denmark and Norway (usually as Aksel or Axel) and was pronounceable in Finnish. In 2007, the European Court of Human Rights found that their rights had been breached and the name was acceptable, despite it missing its usual vowel. “The name was not ridiculous or whimsical, nor was it likely to prejudice the child.” Terhi Ainiala, professor of Finnish language at the University of Helsinki, tells us many rules apply to name-giving in Finland. “It is forbidden to give a name that is clearly of the surname type as a first name,” Ainiala says, of one rule. Which brings us to Iceland. Surnames there are not fixed but are usually either parents’ first name, followed by -son (son of) or dottir (daughter of). As in: Ólafsson (son of Olaf) or Jónsdóttir (daughter of Jon). Singer Björk Guðmundsdóttir is the daughter of Guðmundur. Inga Arnadottir, Iceland’s honorary consul-general to Australia, is Inga, “daughter of Arni” (Arna is the feminine case of Arni). So, how do Icelanders know each other’s lineage? Well, they might not, says Arnadottir: “How do people know which family you’re from and who you’re related to? I mean, it is a small country, less than half a million people there now.” Though she notes: “You meet a guy at the bar and ... and you think, well, I just wonder how related we are.” (Icelanders can check their genealogy on .) Choosing a first name can be complex. To protect Iceland’s cultural heritage, the Mannanafnanefnd (Human Names Committee) maintains a register of some 4200 allowable names (based on grammar, spelling and whether they may cause the bearer harm) and meets to adjudicate on the introduction of new ones. (The Icelandic alphabet has 32 letters, including the unique characters Þ, ð and æ, which can produce some confounding names for the unfamiliar, such as Blær, Snævarr and Álfdís.) In July, the committee approved six new names: Núri and Foster for boys, Roj, Ana, Ahelia and Maríabet for girls. Amelia, an ancient name with Latin roots meaning industrious or fertility, was popularised with the birth of Princess Amelia in 1783, the 15th and last child of England’s King George III. Alas, by the 20th century, Amelia had all but vanished. Yet in Australia, she reappeared in the 1980s, creeping on to the top 100 register in Victoria in 1988 in 99th place. By 1999, she was in the top 50, had hit the top 20 by 2004, and today is regularly first or second in both NSW and Victoria, usually accompanied by her similarly revived cousins Audrey, Charlotte, Matilda, Ruby and Ava. Meanwhile, Oliver, another ancient name (Oliver Cromwell brought it into disrepute in the 17th century), regularly claims the top spot among boys’ names these days, but didn’t even begin to chart in the top 100 until the late 1980s. It’s all about timing, says Ainiala. “Parents generally do not want to give their children the names of their own generation or their parents’ generation, as they feel too familiar and worn out and may be associated with unpleasant personal images,” she says. “Instead, these older-generation names are seen as fresher alternatives.” Not that long ago, you’d find several children in a classroom sharing the same name – David, Mary, Susan, Kylie, perhaps. It’s less likely today, says Jean-Francois Mignot, who researches demographic trends at the French National Centre for Scientific Research in Paris. “More and more parents are choosing relatively original, distinctive and individualising first names for their children, which allow them to appear unique or to stand out from the crowd,” he tells us. It’s a long-running trend. In the 1810s, most newborns in France were given one of the top 10 most popular names (Jacques, Marguerite); today, there is much more variation: think Lina and Romy, Gabriele and Jules. From the 1900s to the 2010s, the number of different first names given at least once to each sex at the French civil registry increased from about 1500 to about 6500 per year. “Fashion for first names has also been changing more quickly since the early 20th century,” says Mignot. This is just as true in Denmark, says Birgit Eggert, a linguist at the University of Copenhagen, with “fewer people having the most common names and more people having very rare names and alternative spellings of names”. At the same time, she says, “A kind of wave motion in name fashion can be seen, such that many names reappear in every third generation. Newborn children are thus often given names that are known from their great-grandparents’ generation.” Perhaps, as Andrew Colman from the University of Leicester concluded in his 1983 study on the attractiveness of names: “When names are either very unfamiliar or very familiar, they are not generally liked very much, but at some intermediate level of familiarity they achieve peak popularity.” Increasingly, parents are also choosing names that translate internationally, Iceland possibly being an exception, linguist Anna-Maria Balbach tells us from Yale University in the United States. “In most European countries, especially in Central and Western Europe, there is a strong trend towards common name favourites and thus a strong internationalisation of the most popular first names in Europe.” Sofia is currently top across several nations (or Sophia, Zofia, Sofija) followed by Mia. For boys, Noah, again, is in first place in five countries, with Luka (or Luca) second. Biblical names, in particular, travel well: Adam, Eve, Noah, Daniel, Luke and Mia (from Mary). Katrine Kehlet Bechsgaard, also at Denmark’s University of Copenhagen, tells us the educational background of parents can factor in name choices. In one study of naming motives, she found “parents with longer educations tended to choose more historically established names whereas parents with shorter educations were more likely to choose less established names.” In Australia, too, parents are travelling back through time to seek unusual names, such as Maxwell, Elliot, Theodore, Eleanor and even Harriet, observes Mark McCrindle, a demographer who has studied naming practices in Australia for decades. “People are going for more traditional names,” he tells us. “So they’re reaching back to their grandparents’ era, which is quite interesting, rather than using the very contemporary names. It’s a trend that’s emerged in the last decade, and it’s amazingly consistent.” Victorian-era botanicals are popular right now: Ivy, Daisy, Rose, Poppy, Lily, Jasmine and Violet (though Heather, Iris and Hyacinth, not so much). Falling out of favour, says McCrindle, are those creative or phonetic spellings, such as Taylah, Charli and Maddison, that emerged in the early 2000s. “These new names died off quite quickly. And we suddenly discovered some history. Partly it’s that people recognise that their children are going to live for a long time and that contemporary trends might eventually seem old and dated. And people realise this is a tricky name to spell the non-traditional way, [and] they’re going to be forever spelling it out.” Absolutely, says Pierre-Louis Plumejeau-Wilby, who grew up in Australia and is the son of a French father and English mother, now working as a parliamentary assistant in Britain. “I reckon I still get asked once a week, ‘How do I pronounce your surname?’” he tells us from London, explaining that his double-double-barrelled name is a result of his parents taking an old family name, Pierre, from his father and adding to it his mother’s choice, Louis, in a compromise deal – while also combining their surnames. If he eventually has a son of his own, he says he will maintain the “Pierre” tradition, if not the double-double barrel. “Especially since my dad died. I just think it’s good to continue it.” Oh, and he has a middle name, too – John. Viennese psychoanalyst Herbert Silberer wrote: “A man’s name is like a shadow ... it follows him all his life.” But what effect does it have on your destiny? The concept of , how your name might determine your life’s path, is believed to have first appeared in a humorous article in magazine in the mid-1990s, no doubt to debunk the idea that a baby with the surname “Taylor” would be fated to endure a lifetime of cutting cloth. Yet hunt around, and you can find some famously appropriate examples of the name fitting the career: urology researchers Splatt and Weedon; polar author Daniel Snowman; the high jumper Nathan Leeper; a firefighter called Les McBurney. Cardinal Sin was a Filipino cleric, and there’s the Bulgarian Olympic gymnast Silviya Topalova. Earlier this year, science author into the notion for , uncovering research that suggested people’s names not only influenced their decisions about which professions to go into but also about where to live, drawing them to towns and streets with names similar or identical to their own. But he also found a professor at the University of Pennsylvania who comprehensively dismantled the idea, showing that “implicit egotism” was more likely at fault. Still, writes Singal, “the continued interest in the idea – across centuries and, arguably, against the evidence – is in itself revealing, highlighting humans’ deep-seated desire for order in a chaotic universe and the role science plays in satisfying that need ... In a strange, mystical way, isn’t it comforting to think that you ended up in San Francisco not because of the vicissitudes of geography and employment but because you’re named Fran?” Either way, parents have, for millennia, sought advice before naming their children. The ancient Romans believed “nomen est omen”, the name is an omen. In China, parents might go to a fortune teller for guidance, says Shuge Wei, a senior lecturer at ANU. “They try to fix what might be in difficulty in the future, and try to fix that problem by giving a name then addressing that effect. [There’s a] huge industry behind it.” In Taiwan, says Ivona Baresova, “a poorly chosen name is thought to bring misfortune to the bearer’s future life. When asked about the origin of their name, many Taiwanese simply state that it was chosen by a fortune teller.” Hindus traditionally choose a name through the elaborate ritual of the Barasala. In the first few days after the birth of a child, a birth chart is plotted by astrologers to select the initial syllable of the child’s name, explains Thilagavathi Shanmuganathan in (the study of names). Then, on an auspicious day, “rice grains are spread on a bronze dish, and the father writes the chosen name on the rice grains using a stick rolled in gold wrapper while chanting the name of the main deity. This is drawn from the traditional saying that in every grain of rice, your name is written. The baby’s father then whispers the selected name into the child’s right ear thrice and says a prayer. The need to repeat the name three times symbolises the three main deities in Hinduism.” In the West, religious or spiritual aspects of naming might have waned, but many parents still agonise to the extent they will hire a professional naming expert. Social media has only added to the anxiety, says Colleen Slagen, a US-based naming consultant who charges up to $600 for a consultation (note that an Australian-based rival charges up to $4999 for a “bespoke” package that includes Zoom calls, ongoing naming support and unlimited revisions for up to three months). “If someone posts that they had a baby named Eloise, even if they’re not someone you interact with in person, it may feel ‘taken’,” Slagen tells us. “Social media has also sped up the exchange of ideas and the speed with which trends come and go ... This can cause a paradox of choice that makes it harder to settle on .” Conversely, some parents, particularly in the United States, don’t bother picking a name at all, instead just adding “jnr” or “III” to the father’s name: Robert F. Kennedy Jr, Donald Trump Jr, William Randolph Hearst III. It can be advantageous, says Francis McAndrew, and can strengthen the bond between fathers and their kids, although it can also carry “high expectations for the son on the part of the father”. Some people change their own names to increase a family bond: in Britain, TV presenter Dawn Porter switched to Dawn O’Porter after marrying actor Chris O’Dowd, and Brooklyn Beckham took his wife’s surname as a new middle name. It was a common migrant experience, meanwhile, in the 1950s and 1960s to Anglicise or change a Greek or Italian name to assimilate or simply end the torturous ritual of explaining pronunciations. Indeed, researcher Jean-Francois Mignon calls himself Jeff in English, he says, “because in English, Jean is a female first name, and because this first name is hell to pronounce for English speakers”. People are so aggrieved by mispronunciations, says cultural diversity consultant Fiona Swee-Lin Price, that she is contracted by universities to correctly read out the names of students at graduation ceremonies. Awkward mispronunciations are hard to avoid, though, Price says, as it’s essentially trying to speak an unfamiliar language. “There’s a lot of preaching going on and not a lot of teaching. I think people are a bit too quick to make it an individual’s responsibility to get someone’s name right.” Research suggests employers still discriminate on the basis of names. In a study in 2023, Monash University economist Andreas Leibbrandt and a colleague sent 12,000 job applications to over 4000 job advertisements in Melbourne, Sydney and Brisbane, using identical resumes but with confected names drawn from six different ethnic groups. The results showed ethnic minorities received 57.4 per cent fewer callbacks for leadership positions than applicants with English names. “If you look at the impact of the name in the Australian context and compare it to international studies in other countries,” Leibbrandt tells us today, “it’s certainly one of the most pronounced differences as compared to other countries.” It’s unsurprising, then, that in Australia’s Muslim community, some people still feel pressure to change their names or go by names that are easier for Anglo-Australians to pronounce, says Adel Salman of the Islamic Council of Victoria. “People do it for various reasons, just to fit in, for fear of being teased at school, because they believe it will increase their job prospects or their prospects of securing rental accommodation,” he tells us. “Some people in their work life, they’re called ‘Mo’, but in their family and social circles, they use the proper name, ‘Mohammed’.” And, no, Adel’s name is not pronounced like that of the English singer Adele. “For a lot of my life, he says, “People would call me ‘Adele’, and I never corrected that. But maybe 15, 20 years ago, I actually started to tell people, ‘Actually, no, it’s pronounced AH-dull.’”
Sean ‘Diddy’ Combs’ third bid to be released on bail won’t be decided until next week
RS232, RS485, RS422 Multiprotocol Transceiver Market 2024 Set for Major Growth Surge Over the Next Decade 12-29-2024 06:54 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: Prudent Markets RS232, RS485, RS422 Multiprotocol Transceiver Market The RS232, RS485, RS422 Multiprotocol Transceiver Market 2024-2023 report provides a comprehensive analysis of Types (1 Drive, 2 Drives, 3 Drives, 4 Drives), Application (Automotive Electronics, Home Appliances, Consumer Electronics, New Energy Industry, Automation Control Industry), Analysis of Industry Trends, Growth, and Opportunities, R&D landscape, Data security and privacy concerns Risk Analysis, Pipeline Products, Assumptions, Research Timelines, Secondary Research and Primary Research, Key Insights from Industry Experts, Regional Outlook and Forecast, 2024-2032. 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— Enhanced liquidity through issuance of Second Lien Notes — Obtained amendment to credit agreement and extended note payable — Fourth quarter fiscal 2024 revenue down 7.3% to $130.4 million — Full year fiscal 2024 revenue down 14.3% to $490.7 million — Conference call begins today at 4:30 pm ET WEST LAFAYETTE, Ind., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Inotiv, Inc. (Nasdaq: NOTV) (the “Company”), a leading contract research organization specializing in nonclinical and analytical drug discovery and development services and research models and related products and services, today announced financial results for the three months (“Q4 FY 2024”) and twelve months ("FY 2024") ended September 30, 2024. Revenue by Segment (in millions of USD) Management Commentary Robert Leasure Jr., President and Chief Executive Officer, commented, “The fourth quarter was productive for Inotiv, including completing previously announced site optimization plans, some recovery of NHP sales with existing and new customers, raising capital and amending our credit agreement. Going forward, we are planning further integration and cost reduction initiatives, we will continue to focus on improving the customer experience, and we will continue to evaluate opportunities to improve our balance sheet. We look forward to seeing results from initiatives we have implemented during the last two years. Moreover, addressing the challenges we have faced over the past two years has made many aspects of our business stronger. "Overall, with the exception of the volatility we saw in the NHP business in 2024, we have seen financial improvements in some other aspects of our business. In addition to improving our financial performance, our goals for 2025 include reducing volatility in our NHP business and a continued focus on the customer, compliance and animal welfare. We will continue our customer-driven strategy that has a strong scientific foundation and fuels innovation as One Inotiv. We’ve grown stronger, adding key partners and building new services and products that have expanded our scientific expertise, services, and offerings. By integrating these efforts over the last two years, we’re streamlining our systems and processes to create a more unified customer driven approach across our global footprint." Highlights Q4 FY 2024 Highlights Revenue was $130.4 million in Q4 FY 2024, a decrease of $10.3 million or 7.3%, compared to $140.7 million during the three months ended September 30, 2023 (“Q4 FY 2023”), primarily driven by a $5.6 million, or 11.2%, decrease in Discovery and Safety Assessment ("DSA") revenue and a decrease of $4.7 million, or 5.2%, in Research Models and Services (“RMS”) revenue. Revenue of $130.4 million in Q4 FY 2024 was an increase of $24.6 million, or 23.3%, compared to revenue of $105.8 million in the sequential prior quarter of Q3 FY 2024 2 . Consolidated net loss for Q4 FY 2024 was $18.9 million, or 14.5% of total revenue, compared to consolidated net loss of $8.7 million, or 6.2% of total revenue, in Q4 FY 2023. Consolidated net loss for Q4 FY 2024 was $18.9 million, or 14.5% of total revenue, compared to consolidated net loss of $26.1 million, or 24.7% of total revenue, in the sequential prior quarter of Q3 FY 2024. Adjusted EBITDA 1 in Q4 FY 2024 was $5.4 million, or 4.1% of total revenue, compared to $23.7 million, or 16.8% of total revenue, in Q4 FY 2023. Book-to-bill ratio for Q4 FY 2024 was 0.78x for the DSA services business. DSA backlog was $129.9 million at September 30, 2024, down from $132.1 million at September 30, 2023. FY 2024 Highlights Revenue was $490.7 million during FY 2024, a decrease of $81.7 million, or 14.3%, compared to $572.4 million during the twelve months ended September 30, 2023 ("FY 2023"), primarily driven by a $76.7 million, or 19.8%, decrease in RMS revenue and a $5.0 million, or 2.7%, decrease in DSA revenue. Consolidated net loss for FY 2024 was $108.9 million, or 22.2% of total revenue, compared to consolidated net loss of $104.9 million, or 18.3% of total revenue, for FY 2023. Consolidated net loss for FY 2024 included a $28.5 million charge related to the Resolution Agreement (the “Resolution Agreement”) the Company and its related entities entered into with the U.S. Department of Justice ("DOJ") and the United States Attorney’s Office for the Western District of Virginia (“USAO-WDV”) and the Plea Agreement (the “Plea Agreement”) Envigo RMS, LLC and Envigo Global Services, Inc. entered into with the DOJ and the USAO-WDV. Each of the Resolution Agreement and the Plea Agreement were entered into on June 3, 2024 in connection with the resolution of a previously-announced criminal investigation into the Company’s shuttered canine breeding facility located in Cumberland, Virginia. Consolidated net loss for FY 2023 included a $66.4 million non-cash goodwill impairment charge related to the RMS segment. Adjusted EBITDA 1 in FY 2024 was $18.2 million, or 3.7% of total revenue, compared to $65.8 million, or 11.5% of total revenue, in FY 2023. Book-to-bill ratio for FY 2024 was 0.99x for the DSA services business. 1 This is a non-GAAP financial measure. Refer to “Note on Non-GAAP Financial Measures” in this release for further information. 2 "Q3 FY 2024" refers to the three months ended June 30, 2024. Operational and Capital Resources Highlights The consolidation of operating activities from the Company's Blackthorn, U.K. facility into its Hillcrest, U.K. site have been completed and the Company exited the leased facility by the end of September 2024. On September 13, 2024, the Company entered into a Seventh Amendment to the Company's Credit Agreement. The Seventh Amendment, among other changes, permitted the incurrence of the issuance by the Company of Second Lien Notes (as defined below) in an aggregate amount of approximately $22.6 million, made certain changes to the component definitions of the financial covenants, including the definition of Fixed Charge Coverage Ratio, and increased the cash netting capability in the Secured Leverage Ratio covenant. The Seventh Amendment included the addition of a maximum capital expenditure limit and a minimum EBITDA test effective September 13, 2024, waived the existing financial covenants from the date of the Seventh Amendment until June 30, 2025, and established additional new financial covenants for the fiscal quarters starting June 30, 2025 and thereafter. On September 13, 2024, certain investors acquired $22.0 million principal amount of the 15.00% Senior Secured Second Lien PIK Notes due 2027 (the "Second Lien Notes") and warrants to purchase 3,946,250 of the Company’s common shares for consideration comprised of (i) $17.0 million in cash and (ii) the cancellation of approximately $8.3 million of the Company’s 3.25% Convertible Senior Notes due 2027. In connection with this transaction, the Company also issued to the structuring agent approximately $0.6 million principal amount of the Second Lien Notes and warrants to purchase 200,000 of the Company's common shares as compensation for its services as structuring agent. Announcement In fiscal 2025, the Company intends to initiate the next phase of our site optimization program to further improve and consolidate additional RMS facilities in the U.S. This next phase is another important program, which the Company projects will eliminate approximately $4.0 million to $5.0 million in operating expenses and further improve RMS margins when completed. Most of these financial benefits are not expected until fiscal 2026. The Company expects to incur additional immaterial capital expenditures, which are included in our capital plan, and immaterial expenses in connection with the next phase of our site optimization program. The Company also believes it can achieve another $0.5 million to $1.0 million in cost reductions from the continued integration of its North American transportation and distribution system. Subsequent Event On October 24, 2024, the Company and Orient BioResource Center entered into a Third Amendment to extend the maturity date of the Seller Payable to January 27, 2026. Fourth Quarter Fiscal 2024 Financial Results (Three Months Ended September 30, 2024) Revenue decreased 7.3% to $130.4 million in Q4 FY 2024 as compared to $140.7 million in Q4 FY 2023. The lower total revenue in the fourth quarter was driven by a $5.6 million decrease in DSA revenue and a $4.7 million decrease in RMS revenue. DSA revenues decreased primarily due to a decrease in safety assessment services of $3.4 million, which was primarily due to decreased revenue from general toxicology services as a result of a change in the mix of studies conducted, and a decrease in discovery service revenue of $2.0 million as a result of the decline in overall biotech activity in the market. The decrease in RMS revenue was due to the lower non-human primate ("NHP") related product and service revenue of $1.6 million mainly as a result of lower pricing for NHPs. Additionally, in Q4 FY 2024, there was a decrease of $1.7 million in RMS revenue as a result of the sale of our Israeli businesses in Q4 FY 2023. The remaining decrease in RMS revenue in Q4 FY 2024 was primarily due to a decline in small animal model sales. Operating loss was $13.2 million in Q4 FY 2024 as compared to operating income of $2.5 million in Q4 FY 2023. RMS operating income decreased by $10.7 million, or 91.1%, driven by the decrease in revenue discussed above and an increase in cost of revenue of $6.8 million. The increased RMS cost of revenue was primarily due to increased costs associated with NHP-related product and service revenue of $10.4 million, partially offset by decreases from the impact of the sale of our Israeli business of $1.2 million, as well as decreases in restructuring costs, transportation costs and costs related to sites closed in connection with our optimization plan. DSA operating income decreased by $4.8 million, or 71.5%, primarily due to the decrease in revenue noted above. Full Year Fiscal 2024 Financial Results (Twelve Months Ended September 30, 2024) Revenue decreased 14.3% to $490.7 million in FY 2024 as compared to $572.4 million in FY 2023. The lower total revenue in FY 2024 was primarily driven by a $76.7 million decrease in RMS revenue and a decrease in DSA revenue of $5.0 million. The decrease in RMS revenue was due primarily to the negative impact of lower NHP sales of $60.4 million. Additionally, there was a decrease of $10.6 million in RMS revenue as a result of the sale of our Israeli businesses in the fourth quarter of fiscal 2023. The remaining decrease in RMS revenue in FY 2024 was due primarily to decreases in small animal model sales and RMS services in the U.S., partially offset by an increase in diet, bedding and enrichment product sales and an increase in small animal model sales outside of the U.S. and RMS services outside of the U.S. The decrease in DSA revenue in FY 2024 was primarily driven by a $5.0 million decrease in discovery services revenue as a result of the decline in overall biotech activity in the market. Operating loss was $86.4 million in FY 2024 as compared to $81.5 million in FY 2023. The higher total operating loss in FY 2024 was due to an increase in RMS operating loss of $7.0 million and a decrease in DSA operating income of $6.5 million, partially offset by a decrease in unallocated corporate expenses of $8.6 million. The increase in RMS operating loss was primarily driven by the negative margin impact resulting from the decrease in RMS revenue noted above and included the $28.5 million charge incurred during FY 2024 related to the Resolution Agreement and Plea Agreement, partially offset by the $66.4 million non-cash goodwill impairment charge related to our RMS segment in FY 2023 that did not recur in FY 2024. DSA operating income decreased primarily due to the decreased revenue noted above. Unallocated corporate expenses decreased primarily due to decreases in professional fees, acquisition and integration costs, stock compensation expense and compensation and benefits expense, partially offset by an increase in information technology expenses. Cash and cash equivalents of $21.4 million at September 30, 2024, compares to $35.5 million at September 30, 2023. Cash used by operating activities was $6.8 million for FY 2024, which included payments of $6.5 million related to the Resolution Agreement and the Plea Agreement, compared to cash provided by operating activities of $27.9 million for FY 2023. For FY 2024, capital expenditures totaled $22.3 million compared to $27.5 million for FY 2023. Total debt, net of debt issuance costs, as of September 30, 2024, was $393.3 million. As of September 30, 2024, there were no borrowings on the Company’s $15.0 million revolving credit facility. Webcast and Conference Call Management will host a conference call on Tuesday, December 3, 2024, at 4:30 pm ET to discuss fourth quarter and full year fiscal 2024 results. Interested parties may participate in the call by dialing: (800) 267-6316 (Domestic) (203) 518-9783 (International) "Inotiv" (Conference ID) The live conference call webcast will be accessible in the Investors section of the Company’s web site and directly via the following link: https://viavid.webcasts.com/starthere.jsp?ei=1697836&tp_key=5c08e65813 For those who cannot listen to the live broadcast, an online replay will be available in the Investors section of Inotiv’s web site at: https://ir.inotiv.com/events-and-presentations/default.aspx . Note on Non-GAAP Financial Measures This press release contains financial measures that are not calculated in accordance with generally accepted accounting principles in the United States (GAAP), including Adjusted EBITDA and Adjusted EBITDA as a percentage of total revenue for the three and twelve months ended September 30, 2024 and 2023 and selected business segment information for those periods. Adjusted EBITDA as reported herein refers to a financial measure that excludes from consolidated net loss, statements of operations line items interest expense and income tax benefit/provision, as well as non-cash charges for depreciation and amortization of intangible assets, stock compensation expense, acquisition and integration costs, startup costs, restructuring costs, unrealized foreign exchange (gain) loss, amortization of inventory step up, (gain) loss on disposition of assets, other unusual, third party costs, the charge in connection with the Resolution and Plea Agreements, gain on sale of subsidiary, gain on extinguishment of debt, and goodwill impairment loss. The adjusted business segment information excludes from operating loss and unallocated corporate operating expenses for these same expenses. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in this press release. The Company believes that these non-GAAP measures provide useful information to investors. Among other things, they may help investors evaluate the Company’s ongoing operations. They can assist in making meaningful period-over-period comparisons and in identifying operating trends that would otherwise be masked or distorted by the items subject to the adjustments. Management uses these non-GAAP measures internally to evaluate the performance of the business, including to allocate resources. Investors should consider these non-GAAP measures as supplemental and in addition to, not as a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. Management has chosen to provide this supplemental information to investors, analysts, and other interested parties to enable them to perform additional analyses of our results and to illustrate our results giving effect to the non-GAAP adjustments. Management strongly encourages investors to review the Company's condensed consolidated financial statements and publicly filed reports in their entirety and cautions investors that the non-GAAP measures used by the Company may differ from similar measures used by other companies, even when similar terms are used to identify such measures. About the Company Inotiv, Inc. is a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models and related products and services. The Company’s products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development, all while increasing efficiency, improving data, and reducing the cost of taking new drugs and medical devices to market. Inotiv is committed to supporting discovery and development objectives as well as helping researchers realize the full potential of their critical research and development projects, all while working together to build a healthier and safer world. Further information about Inotiv can be found here: https://www.inotiv.com/ . This release contains forward-looking statements that are subject to risks and uncertainties including, but not limited to, statements regarding our intent, belief or current expectations with respect to ( i) our strategic plans; (ii) trends in the demand for our services and products; (iii) trends in the industries that consume our services and products; (iv) market and company-specific impacts of NHP supply and demand matters; (v) compliance with the Resolution Agreement and Plea Agreement and the expected impacts on the Company related to the compliance plan and compliance monitor, and the expected amounts, timing and expense treatment of cash payments and other investments thereunder; (vi) our ability to service our outstanding indebtedness and to comply or regain compliance with financial covenants, including those established by the Seventh Amendment to our Credit Agreement; (vii) our current and forecasted cash position; (viii) our ability to make capital expenditures, fund our operations and satisfy our obligations; (ix) our ability to manage recurring and unusual costs; (x) our ability to realize the expected benefits related to our restructuring and site optimization plans; (xi) our expectations regarding the volume of new bookings, pricing, operating income or losses and liquidity; (xii) our ability to effectively fill the recent expanded capacity or any future expansion or acquisition initiatives undertaken by us; (xiii) our ability to develop and build infrastructure and teams to manage growth and projects; (xiv) our ability to continue to retain and hire key talent; (xv) our ability to market our services and products under our corporate name and relevant brand names; (xvi) our ability to develop new services and products; (xvii) our ability to negotiate amendments to the Credit Agreement or obtain waivers related to the financial covenants defined within the Credit Agreement, including those detailed in the Company's filings with the U.S. Securities and Exchange Commission. Further discussion of these risks, uncertainties, and other matters can be found in the Risk Factors detailed in our Annual Report on Form 10-K as filed on December 12, 2023, as well as other filings we make with the Securities and Exchange Commission.
UConn head coach Dan Hurley insists he's not overvaluing Wednesday night's game between his 25th-ranked Huskies and No. 15 Baylor in Storrs, Conn. Sure, it comes on the heels of the two-time reigning national champion Huskies (5-3) responding to losing all three games during the Maui Invitational with a blowout victory over Maryland Eastern Shore on Saturday. UConn, which had won 17 consecutive games entering the Maui tournament, fell 23 spots from No. 2 to nearly out of the Associated Press Top 25 poll released Monday. "I think it's such a long season and we're eight games in," Hurley said when asked about facing the Bears. "Our performance in Maui shocked the college basketball world and the sports world, and obviously a lot went on there." "I don't think it's a must-win game in Game Nine of the season, but it's an opportunity to play in Gampel (Pavilion), where we play great and are very comfortable, and we know we're gonna have a great crowd." "We also know we're playing a top-level team, so it's a big game for us and it's a big game for them." Wednesday's game signifies the start of a tough stretch in UConn's schedule. The Huskies will visit Texas on Sunday and challenge No. 7 Gonzaga in New York on Dec. 14 before beginning Big East play on Dec. 18 against Xavier, which fell from No. 22 to out of the poll on Monday. But let's go back to Saturday's 99-45 dismantling of the Hawks. Jaylin Stewart started in place of the injured Alex Karaban (head) and joined Liam McNeeley by scoring 16 points to put UConn back in the win column. Solo Ball contributed 12 points, Aidan Mahaney had 11 and Tarris Reed Jr. (10 points, 12 rebounds) and Jayden Ross (10 points, 10 rebounds) each recorded a double-double. "This experience they're getting, (Stewart), Jayden Ross, Solo Ball, these guys are going to keep getting better and better," Hurley said. "Jaylin Stewart has flashed. That Memphis game (in which he scored 16 points on 7-of-9 shooting), he flashed a lot in that one. "... These sophomores are just going to keep getting better and better. That's why I do think we do need the grace and support of our people here at UConn. Because they're going to be such different players in January and February." Coming off a split in the Bahamas, Baylor (5-2) bounced back from a 77-62 setback to then-No. 11 Tennessee on Nov. 22 with a decisive 91-60 victory over New Orleans last Wednesday. "I know we're all a little tired," Bears coach Scott Drew said. "Whenever you come back from the Bahamas and a trip like that, the first game, you can be playing in mud. And I think the guys did a pretty good job, for the most part." Jayden Nunn drained six of his seven 3-pointers in the first half and finished with a season-high 23 points to power Baylor past the Privateers. Robert Wright III scored 18 points, Jeremy Roach had 17 and Miami transfer Norchad Omier recorded his third consecutive double-double after finishing with 12 points and a season-high 13 rebounds. --Field Level Mediato major Canadian airports, beginning with Vancouver International Airport, in a bid to streamline the boarding process. But while the technology may simplify flying for some — enrolled travellers no longer need to show their boarding pass or physical ID to board most domestic flights — the convenience might not outweigh the potential security concerns, some privacy experts say. “Any type of biometric data is extremely sensitive information,” said Rozita Dara, an associate professor and principle investigator of the University of Guelph’s Data Management and Privacy Governance research program. “Unlike passwords, you cannot change it.” Many U.S. cities have banned facial recognition software, but it remains widely unregulated in Canada. Many U.S. cities have banned facial recognition software, but it remains widely unregulated in Canada. Air Canada’s program launched Tuesday at Vancouver International Airport. It’s also available for customers entering Air Canada’s Maple Leaf Lounges in Toronto, Calgary and San Francisco, as well as the Air Canada Café in Toronto, . “While we don’t have a specific timeline to share for when other airports will have this, we can confirm we are planning to roll our Digital ID as an option at other Canadian airport gates,” a spokesperson for Air Canada told the Star. “It does require some significant investment for equipment, and new processes for our employees.” They continued that the program is entirely optional, and that Air Canada has no plans of making it mandatory. To enrol in the program, travellers over 18 must first create a digital profile on Air Canada’s mobile app by uploading a selfie, a picture of their passport and a scan of their passport chip. These are then shared with a third-party company which generates the facial biometrics for one’s profile and for use in verifying their identity at the airport. This company “has access to and uses your facial biometrics strictly on Air Canada’s instructions and solely for the purposes of the digital ID,” . While Air Canada did not disclose the third-party provider on its website or to the Star, it appears to be , a company that employs to facilitate its work. This digital profile, containing one’s selfie, passport details and a unique identifier, is then encrypted and stored only on one’s device, the airline says; the facial biometric data used to create the profile are immediately deleted. Travellers can then check in on the device where their digital profile was created before their flight, after which facial recognition cameras installed at certain airport gates will match their image with that of their digital profile — no ID or boarding pass needed. “Customers utilizing Digital ID will be among the first to board the aircraft and get settled in sooner,” the airline said in a release. Travellers’ digital profiles are stored only on their mobile devices until the day of one’s flight, the airline said. At that time, the information is encrypted and sent to Air Canada’s biometrics provider for use in identification at the airport. “Our provider does not retain any copy of your biometrics created and used for the authorized purposes,” according to Air Canada. The biometric data generated from the airport facial recognition cameras are “immediately deleted after use,” and those created from one’s selfie on the day of travel are deleted within 36 hours of departure. , Mike Maxwell, aviation leader at OARO, said the “biometrics is facilitated through an anonymized process, maintaining an even higher standard of privacy than called for by Canadian or General Data Protection Regulation requirements.” While experts say Air Canada’s privacy measures appear robust, some expressed concerns with how the systems are trained, what happens when it fails to recognize travellers — and the airline’s third-party facial recognition provider. “These collect a lot of biometric, personal information about you, but you don’t necessarily know who they are or how they protect your data,” said Florian Kerschbaum, a professor at the University of Waterloo’s David R. Cheriton School of Computer Science. The city still makes public residents’ phone numbers, addresses, email addresses and signatures, even as concerns grow over identity theft. The city still makes public residents’ phone numbers, addresses, email addresses and signatures, even as concerns grow over identity theft. He also noted that, because one’s information must be sent from their phone to Air Canada and their third-party provider on their day of travel, it creates an opening where malicious actors can intercept and steal your biometric data. That’s a big issue, according to Dara, because unlike a stolen password, “you can’t change your face.” Malicious actors can then use this information to gain access to your accounts on other platforms that use biometric verification. Canadian airports have been slow to embrace the technology, but facial recognition software has already been in use by some U.S. and international airlines, companies and government security agencies for years. You may already be using it to unlock your iPhone. As more companies adopt the technology and the ecosystem grows, so too does the threat of identity theft and abuse, Kerschbaum and Dara say. “In my opinion, I’d never use (facial recognition),” Dara added. As for whether you should sign up for Air Canada’s program, “it depends on your personal preference,” Kerschbaum said. “These biometrics can be very convenient... But (you have to ask), is boarding a plane important enough for me to use it?”Believe it or not, Cowboys have hope after chaotic win at Washington
Is Enron back? If it’s a joke, some former employees aren’t laughing
South Africa’s most popular football club, Kaizer Chiefs, have offered supporters a Black Friday sale on the club’s merchandise. KAIZER CHIEFS CONFIRM BLACK FRIDAY SALE OFFERS Soon before the club’s next Betway Premiership match against Richards Bay FC on Wednesday, Amakhosi communicated a 20% sale on selected merchandise between Monday, November 25, and Monday, December 2, 2024. Unfortunately, the club also made a keynote to say the markdown prices do not apply on the 2024/25 Kaizer Chiefs jersey. Additionally, the 20% offer is only available on the club’s online shop . “Enjoy 20% OFF all regular-priced items from Monday, 25 November, to Monday, 2 December! ” the club said via Instagram . “Don’t miss this chance to grab your favourites and save big. Stock up on your Kaizer Chiefs essentials and show your Amakhosi pride in style! “*Excludes 2024/25 Replica Jersey,” Kaizer Chiefs concluded. BETWAY PREMIERSHIP MATCH IN POLOKWANE In the meantime, coach Nasreddine Nabi’s team are travelling to Polokwane, where they will host Richards Bay in a league game on Wednesday at 19:30. Kaizer Chiefs are currently positioned in eighth spot with seven points and 14 points behind log leaders Orlando Pirates, but with two games in hand for Amakhosi. CAN KAIZER CHIEFS WIN THE NEDBANK CUP OR EVEN THE LEAGUE THIS SEASON? Let us know by clicking on the comment tab below this article or by emailing info@thesouthafrican.com . You can also send a WhatsApp to 060 011 021 1. Follow @TheSAnews on X and The South African on Facebook for the latest news.
OXFORD, Miss. (AP) — Sira Thienou scored 16 points with six rebounds, five assists and four steals and No. 18 Mississippi coasted to an 89-24 win over Alabama State on Saturday. Starr Jacobs and Christeen Iwuala both added 12 points and Kennedy Todd-Williams had 11 for the Rebels (5-2), who had a breather after losing to No. 2 UConn by 13 in the Bahamas. Kaitlyn Bryant had seven points to lead the Hornets (2-5), who shot 19% with 33 turnovers and were outrebounded 43-25. Alabama State was 1 of 8 with 11 turnovers in the first quarter, falling behind 24-4. The Hornets were 2 of 11 with seven giveaways in the second quarter when they were outscored 33-6 to trail 57-10 at the half. The Rebels shot 58% with 28 points off turnovers. They scored the first 16 points of the game and the first 24 points of the second quarter. Ole Miss had the last five points of the third quarter and the first seven of the fourth to get the lead to 82-22. The Hornets went 1 of 10 in the final 10 minutes with 10 turnovers. It was Mississippi's third win against teams from the Southwestern Athletic Conference with one more to play. The Rebels play at NC State on Thursday in the SEC/ACC Challenge. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP women’s college basketball: https://apnews.com/hub/ap-top-25-womens-college-basketball-poll and https://apnews.com/hub/womens-college-basketball