Technology
Haivision Announces Results for the Three Months and Nine Months Ended July 31, 2024
Published
1 week agoon
By
Operational Restructuring Now Complete, Focus Turns to Higher Revenue Growth
MONTREAL, Sept. 11, 2024 /CNW/ – Haivision Systems Inc. (“Haivision” or the “Company”) (TSX: HAI), a leading global provider of mission critical, real-time video networking and visual collaboration solutions, today announced its results for the third quarter ended July 31, 2024.
“As we get closer to the end of our Fiscal 2024, I’m proud to say that we have completed our 2-year strategic plan for major EBITDA and profitability transformation,” said Mirko Wicha, Chairman and CEO of Haivision. Successfully transitioning out of low margin businesses, our focus over the next two years will be to return Haivision to organic, double-digit revenue growth.”
Q3 2024 Financial Results
Revenue of $30.6 million, down from the prior year comparative period, partially the result of delays in the U.S. budget approval, but also reflect our transformation away from the bespoke “integrator” model and our success in the long-term rental program.Gross Margins* were 75.0%, a significant improvement from 71.9% for the same prior year period.Total expenses were $21.9 million, a decrease of $3.8 million, from the same prior year period.Operating profit was $1.1 million, a $1.8 million or 333% improvement from the same prior year period.Adjusted EBITDA* was $4.1 million, consistent with the prior year period.Adjusted EBITDA Margins* was 13.5%, compared to 12.4% for the same prior year period.Net income was $0.4 million, a $1.3 million or 298% improvement from the same prior year period.
Financial Results for the nine months ended July 31, 2024
Revenue of $99.4 million, down from the prior year comparative period, partially the result of delays in approval of the U.S. federal budget, but also reflects our transformation away from the bespoke integrator model, our success in the long-term rental program and are departure from the house of worship business.Gross Margins* were 73.1%, a notable improvement from 69.1% for the same prior year period.Total expenses were $67.4 million, a decrease of $7.0 million from the same prior year period.Operating profit was $5.2 million, a $7.7 million or 317% improvement from the same prior year period.Adjusted EBITDA* was $14.4 million, a $5.3 million or 78% improvement from the same prior year period.Adjusted EBITDA Margins* was 14.5%, a signficant improvement when compared to 8.7% for the same prior year period.Net income was $2.6 million, a $6.4 million or 243% improvement from the same prior year period.
Key Company Highlights
Haivision joins consortium with Airbus Defense and Space to develop new technologies for rapid, secure, and reliable communications.Haivision MCS awarded US$61.2 million (CAD$82 million) production agreement by U.S. Navy for next-generation combat visualization and video distribution systems.Haivision collaborates with Shield AI to bring together full-motion video with AI object detection for defense and ISR applications.France Television provides exclusive coverage of the Paris 2024 Olympic surfing competition with Haivision’s private 5G video transmission ecosystem.Celebrated its 20-years anniversary as a leader and innovator in mission critical live video.Unveiled Hub 360, a cloud-based master control solution that streamlines live production workflows.Published its fifth annual Broadcast Transformation Report, highlighting the state of technology adoption in the broadcast industry.Awarded “Single/Dual-Stream Encoding Hardware” and “Best On-Prem Encoding/ Transcoding Solution” for the Makito X4 by Streaming Media Readers’ Choice Awards.Joined the Panasonic Partner Alliance for live video production workflows with Kairos; joined the Sony Cloud Production Platform for low latency live video in the cloud; and partnered with Grabyo, a London-based live cloud production platform, enabling integrated solution for live multi-camera productions.Announced strategic partnerships with CP Communications, Flypack, RF Wireless Systems, and Vidovation to extend mobile video transmitters rental services into North America.
“Haivision MCS’s recent award of a C$82M production agreement by the U.S. Navy, the Airbus Defense development partnership, and our investment in AI development demonstrate our ability to deliver advanced technology solutions for our key markets. Said Dan Rabinowitz, Chief Financial Officer and EVP, Operations. These are but a few example of growth opportunities for the Company. It has clearly been a busy year for Haivision.”
Financial Results
Revenue for the three months and nine months ended July 31, 2024 was $30.6 million and $99.4 million, respectively modest decrease when compared to the prior year comparative period. In this last quarter revenues were impacted by delays in the approval of a U.Ss Federal spending bill which, in turn, delayed certain procurement process; our transition away from the integrator model in the control room space, which offered lower-margined, third-party components; our long-term rental program which will offer a recurring revenue model and enhanced margins in our transmitter business; and our departure from the house of worship market in fiscal 2023.
Gross Margin* for the three months and nine months ended July 31, 2024 was 75.0% and 71.9%, respectively compared to 72.0% and 69.1% for the prior year comparable periods. Gross Margin* were positively impacted by our decision to exit the managed services business; transitioning away from the integrator model in the control room market, decreases in the incremental costs of components procured during the worldwide component shortage, and supply chain improvements.
Total expenses for the three months and nine months ended July 31, 2024 were $21.9 million and $67.4 million, respectively representing decrease of $3.8 million and $7.0 million when compared to from the prior year comparative periods, largely the result of recently completed restructuring efforts.
The result of these Gross Margin* improvements and lower total expenses was operating profits for the three months and nine months ended July 31,, 2024 of $1.1 million and $5.3 million, respectively representing improvements of $1.6 million and $7.7 million when compared to the prior year comparable periods. Adjusted EBITDA* for the three months ended July 31, 2024 was $4.1 million a modest decrease of $0.2 million from the prior year period. However, Adjusted EBITDA* for the nine-month period ended July 31, 2024 was $14.4 million representing a significant increase of $5.3 million (or 58%) from the prior year comparative period. Adjusted EBITDA Margins* for the three months ended July 31, 2024, was 13.5% compared to 12.4% in the prior year comparative period. Adjusted EBITDA Margins* for the nine months ended July 31, 2024, was 14.5% compared to 8.7% in the prior year comparative period.
Net income for the three months ended July 31, 2024, was $0.4 million representing an increase of $1.3 million from the prior year net loss of $0.9 million, and net income for the nine months ended July 31, 2024 was $2.6 million and increase of $6.4 million from the prior year loss of $3.8 million.
*Measures followed by the suffix “*” in this press release are non-IFRS measures. For the relevant definition, see “Non-IFRS Measures” below. As applicable, a reconciliation of this non-IFRS measure to the most directly comparable IFRS financial measure is included in the tables at the end of this press release and in the Company’s management’s discussion and analysis for the three months and nine months ended July 31, 2024.
Conference Call Notification
Haivision will hold a conference call to discuss its second quarter financial results on Thursday, September 12, 2024 at 8:30 am (ET). To register for the call, please use this link https://registrations.events/direct/Q4I3341499 . After registering, a confirmation will be sent through email, including dial in details and unique conference call codes for entry.
Financial Statements, Management’s Discussion and Analysis and Additional Information
Haivision’s unaudited interim consolidated financial statements for the third quarter ended July 31, 2024 (the “Q3 Financial Statements”), the management’s discussion and analysis thereon and additional information relating to Haivision and its business can be found under Haivision’s profile on SEDAR+ at www.sedarplus.ca. The financial information presented in this release was derived from the Q3 Financial Statements.
Forward-Looking Statements
This release includes “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws, including, without limitation, statements regarding the Company’s growth opportunities and its ability to execute on its growth strategy. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding future events and operating performance.
Forward-looking statements are necessarily based on opinions, assumptions and estimates that, while considered reasonable by Haivision as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under “Risk Factors” in the Company’s latest annual information form, and in other periodic filings that the Company has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under the Company’s SEDAR+ profile at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect Haivision. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. Haivision undertakes no obligation to publicly update any forward-looking statement, except as required by applicable securities laws.
Non-IFRS Measures
Haivision’s consolidated financial statements for the third quarter ended July 31, 2024 are prepared in accordance with International Financial Reporting Standards (“IFRS”). As a compliment to results provided in accordance with IFRS, this press release makes reference to certain (i) non-IFRS financial measures, including “EBITDA”, and “Adjusted EBITDA”, (ii) non-IFRS ratios including “Adjusted EBITDA Margin”, and (iii) supplementary financial measures including “Gross Margins” (collectively “non-IFRS measures”). These non-IFRS measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS. Rather, these non-IFRS measures are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors, and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Our management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. For information on the most directly comparable financial measure disclosed in the primary financial statements of Haivision, composition of the non-IFRS measures, a description of how Haivision uses these measures and an explanation of how these measures provide useful information to investors, refer to the “Non-IFRS Measures” section of the Company’s management’s discussion and analysis for the three months and nine months ended July 31, 2024, dated September 11, 2024, available on the Company’s SEDAR+ profile at www.sedarplus.ca, which is incorporated by reference into this press release. As applicable, the reconciliations for each non-IFRS measure are outlined below. Non-IFRS measures should not be considered as alternatives to net income or comparable metrics determined in accordance with IFRS as indicators of the Company’s performance, liquidity, cash flow and profitability.
About Haivision
Haivision is a leading global provider of mission-critical, real-time video streaming and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations globally to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded four Emmys® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. Learn more at haivision.com.
Thousands of Canadian dollars (except per share amounts)
Three months ended
July 31,
Nine months ended
July 31,
2024
2023
2024
2023
($)
($)
($)
($)
Revenue
30,646
34,954
99,394
104,132
Cost of sales
7,665
9,826
26,709
32,133
Gross profit
22,981
25,128
72,685
71,999
Expenses
Sales and marketing
6,744
7,823
20,378
23,339
Operations and support
3,939
3,820
11,903
11,409
Research and development
6,713
7,236
20,738
22,542
General and administrative
3,870
4,740
12,788
14,036
Share-based payment
585
449
1,627
1,545
Restructuring costs
—
1,546
—
1,546
21,851
25,615
67,434
74,417
Operating Profit (loss)
1,131
(486)
5,251
(2,417)
Financial expenses
206
393
749
1,337
Income (loss) before income taxes
925
(880)
4,502
(3,754)
Income taxes
Current
887
(388)
2,236
(242)
Deferred
(397)
371
(378)
283
490
(17)
1,858
40
Net income (loss)
435
(863)
2,644
(3,795)
Other comprehensive income (loss)
Foreign currency translation adjustment
785
(2,670)
203
(2)
Comprehensive income (loss)
1,221
(3,532)
2,848
(3,797)
Net income (loss) per share:
Basic
$0.01
$(0.03)
$0.09
$(0.13)
Diluted
$0.01
$(0.03)
$0.09
$(0.13)
Weighted average number of shares outstanding
Basic
29,038,392
29,004,453
29,074,599
28,964,172
Diluted
30,162,758
29,004,453
30,123,314
28,964,172
Thousands of Canadian dollars
As at
July 31,
2024
October 31,
2023
$
$
Assets
Current assets
Cash
13,882
8,285
Trade and other receivables
24,676
26,113
Investment tax credits receivable
2,044
2,238
Inventories
15,581
18,930
Prepaid expenses and deposits
3,828
4,043
60,011
59,609
Property and equipment
3,727
3,900
Right-of-use assets
6,199
7,494
Intangible assets
12,727
17,668
Goodwill
46,309
46,219
Non-refundable investment tax credits receivable
7,313
5,602
Deferred income taxes
3,953
3,599
80,228
84,482
140,239
144,091
Liabilities
Current liabilities
Line of credit
3,402
4,685
Trade and other payables
14,031
17,534
Restructuring costs payable
70
240
Purchase price payable
208
204
Income taxes payable
1,779
659
Current portion of lease liabilities
1,677
1,688
Current portion of term loans
1,138
964
Deferred revenue
12,672
12,104
34,977
38,078
Lease liabilities
5,460
6,738
Long term debt
1,664
2,101
Deferred revenue
3,009
3,021
45,110
49,938
Equity
Share capital
89,900
90,902
Retained earnings
(7,792)
(9,997)
Share-based compensation and other reserves
4,864
5,295
Cumulative translation adjustment
8,157
7,953
95,129
94,153
140,239
144,091
Thousands of Canadian dollars
Three months ended
July 31,
Nine months ended
July 31,
2024
2023
2024
2023
($)
($)
($)
($)
Net Income (loss)
434
(863)
2,644
(3,795)
Income Taxes
490
(17)
1,858
40
Income (loss) before income taxes
925
(880)
4,502
(3,755)
Depreciation
828
768
2,561
2,315
Amortization
1,602
2,053
4,947
6,091
Financial expenses
206
393
749
1,337
EBITDA(1)
3,561
2,335
12,759
5.988
Share-based payments (LTIP)
585
449
1,627
1,545
Restructuring costs
—
1,546
—
1,546
Adjusted EBITDA(1)
4,146
4.330
14,386
9,079
Adjusted EBITDA Margin(1)
13.5 %
12.4 %
14.5 %
8.7 %
___________________
Note:
(1) Non-IFRS measure. See “Non-IFRS Measures.”
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SOURCE Haivision Systems Inc.
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WorldSkills Lyon 2024: Talented Winners, Long-lasting Legacy
Published
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September 19, 2024By
LYON, France, Sept. 19, 2024 /PRNewswire/ — After an intense week of competition, the 47th WorldSkills Competition has officially wrapped up, marking the end of a thrilling journey for 1,400 young professionals from around the globe. For four days, participants representing nearly 70 countries and regions competed fiercely in 59 diverse skill areas, transforming Lyon’s Eurexpo into a vibrant hub of craftsmanship and international talent.
From day one, the atmosphere was charged with energy as competitors showcased their expertise in sectors ranging from Manufacturing and Engineering to Fashion, Digital Technology, and Healthcare. The level of dedication and precision demonstrated throughout the week was a testament to the profound commitment these young professionals have to their trades, as well as their determination to showcase their nation’s worth on the global stage.
Last night, the closing ceremony of WorldSkills Lyon 2024, held at Groupama Stadium, brought the event to an emotional close with the announcement of medalists in each skill category. Four medals were awarded in each skill: Gold Medal, Silver Medal, Bronze Medal, and the Medallion for Excellence. This ceremony underscored the core belief of the WorldSkills movement: excellence is found in diversity – diversity of profiles, backgrounds, expertise, and techniques.
The list of medalists is now available. Visit https://worldskills.org/what/competitions/worldskills-lyon-2024/#results to discover the winners!
What’s next?
The impact of WorldSkills Lyon 2024 extends far beyond the event itself. As the competition unfolded, and millions of people followed it in person or through media, WorldSkills Lyon 2024 spotlighted the crucial role of vocational education in today’s world and in shaping our shared future. By celebrating excellence, the competition highlighted the incredible ability of youth to drive the change our world needs through their energy and dedication. The legacy of this event lies in every vocation it has sparked and every future career it has inspired. This 47th edition has once again shown the world that where there is skill, there is a way.
Media Contacts:
Alice Nahon
PR Officer
alice.nahon@publicis.com
Anne-Laure TRONC
Press Relation Manager
media@worldskillslyon2024.com
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View original content:https://www.prnewswire.co.uk/news-releases/worldskills-lyon-2024-talented-winners-long-lasting-legacy-302253405.html
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LG NOVA EXPANDS EFFORTS TO DRIVE INNOVATION GROWTH THROUGH NEW PARTNER ALLIANCE PROGRAM
Published
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September 19, 2024By
New Program Connects LG, Strategic Partners and Startups to Ignite Collaboration and Development of Innovative Ideas for a Better Future
SANTA CLARA, Calif., Sept. 19, 2024 /PRNewswire/ — LG Electronics today announced the launch of the LG NOVA Partner Alliance Program – a platform that brings together corporate partners and startups for cross-industry collaborations, technology and business development, and commercial partnerships to catalyze the growth of innovations for the future.
Spearheaded by LG NOVA, LG Electronics’ North America Innovation Center, the Program extends the success of LG NOVA’s mission to co-create new ventures with startups to its corporate partners with the goal to encourage exponential growth of new innovations in the market by creating more pathways for innovative ideas to flourish at a greater rate.
Joining the Partner Alliance Program at launch are Fujitsu Research of America, Hyundai CRADLE, IBM, Mayo Clinic Innovation Exchange, Niantic and the West Virginia Department of Economic Development. These organizations have all signed on to work with LG NOVA and its extensive startup ecosystem to generate and explore new concepts; develop, test, and validate those concepts; and collaborate on innovative product solutions or even co-create new businesses. Additional partners will be added to the Partner Alliance Program in the coming months.
“The new Partner Alliance Program aligns with our core mission to collaborate and create an ecosystem for startups to thrive and ensure that the innovations today become the market-leading solutions of tomorrow,” said Dr. Sokwoo Rhee, corporate executive vice president for Innovation, LG Electronics and head of LG NOVA.
Kevin Chong, LG NOVA’s head of corporate and business development, said, “This program is a win-win for all parties, including LG, as we continue to explore new ideas for business co-creation. The growth of new ideas and cross-industry collaboration will help the markets move forward faster towards a better future that benefits all of us, businesses, people and the planet.”
In bringing on corporate partners to its Program, LG NOVA is helping to create more opportunities for startups to find quintessential industry partners that will help it reach commercial success at a larger level, Chong explained. For the corporate partners, finding innovative startups to work with will help them address new market opportunities, extend their businesses into new areas and better address the changing needs of their customers.
The Partner Alliance Program will leverage the resources of LG Electronics existing business units while also tapping into the pipeline of startups and resources available through the LG NOVA’s Mission for the Future initiative – a broad umbrella of programs designed around engaging with the entire innovation ecosystem to explore ideas on creating a better future through collaboration and tech innovations.
LG NOVA and the newly announced partners in the Partner Alliance Program plan to share more about their goals and vision for this program at the 2024 LG NOVA InnoFest, Sept. 25-26, at the Palace of Fine Arts in San Francisco, Calif.
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About LG NOVA
LG NOVA, the North America Innovation Center for global innovation leader LG Electronics, is a team focused on bringing innovation from the outside to LG. LG NOVA is based in Santa Clara, Calif. The center’s mission is to fuel innovation for LG and its partners by establishing a community to create, nurture and grow businesses. Learn more about LG NOVA at www.lgnova.com.
About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a $60-billion-plus global innovator in technology and manufacturing. In the United States, LG sells a wide range of innovative home appliances, home entertainment products, commercial displays, air conditioning systems, energy solutions and vehicle components. LG is an 11-time ENERGY STAR® Partner of the Year. www.LG.com.
Media Contact:
LG Electronics USA
Linda Quach
+1 408 903 3045
linda.quach@lge.com
Partners & Quotes
Fujitsu Research of America
“We are excited to join LG NOVA in the Partner Alliance Program to explore new collaboration opportunities with them. LG NOVA approach to innovation and the Partner Alliance Program is a meaningful way for organizations from across different market sectors to come together and innovate,” said Takuto Komatsuki, Senior Director at Fujitsu Research of America.
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About Hyundai CRADLE
Hyundai CRADLE for Human-centered Mobility Innovation
Hyundai CRADLE is Hyundai Motor’s corporate venturing and open innovation business, which partners and invests extensively in prominent global startups to accelerate the development of advanced future automotive technologies. CRADLE identifies newly established startups that focus, amongst others, on ‘Disruptive Innovations.’
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IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service.
Visit www.ibm.com for more information.
Mayo Clinic Innovation Exchange
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The Mayo Clinic Innovation Exchange is a dynamic platform designed to accelerate healthcare innovation and foster collaboration among the global healthcare community. Leveraging Mayo Clinic’s world-class expertise and resources, the Innovation Exchange bridges the gap between emerging technologies and clinical practice, research, and education to bring breakthrough innovations to market, all for one shared mission—to benefit patients.
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SOURCE LG Electronics USA
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Behr Paint Company Hosts First Student Design Competition
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SANTA ANA, Calif., Sept. 19, 2024 /PRNewswire/ — Today, Behr Paint Company announces its first-ever BEHR® Student Design Competition in partnership with MattoBoard, a 3D virtual sampling platform for designers. The competition is open starting today, September 19, through November 10, 2024, for full-time or part-time emerging professional design students.*
Behr Paint invites design students to submit an original design plan for any commercial space such as hospitality, workplace, healthcare, multifamily and more. The design theme, “No Clear Boundaries,” draws inspiration from the BEHR 2025 Commercial Color Forecast, which celebrates the fluidity between designed environments that reflect the intersection of the past and future, digital and physical, and timeless and modern. Entrants must incorporate colors from the BEHR 2025 Commercial Color Forecast in their design along with BEHR’s 2025 Color of the Year, Rumors, a deep and timeless shade of ruby red.
The competition was created to champion emerging designers by providing specialized resources and opportunities to showcase and celebrate their talents. “As a judge of the BEHR Student Design Competition, I am excited to see how each student embraces color and design,” said Erika Woelfel, Vice President of Color & Creative Services at Behr Paint Company. “At Behr, we are committed to supporting the careers of the next generation of designers, and I look forward to seeing the students’ creativity shine through.”
The judging panel will also include Guy Adam Ailion, Architect and CEO / Co-Founder of MattoBoard; Kayla Kratz, Director of Color & Designer Segment at Behr Paint Company; and Amber Jones, Director of Architect & Designer Strategic Initiatives at Behr Paint Company.
The winner of the 2024 BEHR Student Design Competition will be awarded a $3,000 cash prize and $1,000 for their design school. The runner-up will receive a $1,500 cash prize, and the second runner-up will receive a $500 cash prize. All winners will also receive a 1-year MattoBoard Pro Subscription to continue using the platform for their design needs. Winners will be announced in December 2024 and will be featured on BEHR’s and MattoBoard’s social channels, blog, and email.
To learn more about the 2024 BEHR Student Design Competition and how to enter, visit www.behr.com/designcompetition.
*NO PURCHASE NECESSARY. PURCHASE WILL NOT IMPROVE OPPORTUNITY TO WIN.
INTERNET AND MATTOBOARD ACCOUNT REQUIRED. Trade contest offered in the 50 U.S. & U.S. Territories (“U.S.”) to full/part-time emerging Design students at U.S. eligible Institution (see Rules) who are legal U.S. res., 18+. Ends 11:59 P.M. PT 11/10/24. See Official Rules at: www.behr.com/designcompetition for entry, judging criteria and limitations. Void where prohibited. Sponsor: Behr Process LLC.
About Behr Paint Company
Founded in 1947, Behr Paint Company is one of the largest manufacturers of paints, primers, decorative finishes, stains, surface preparation and application products for do-it-yourselfers and professionals in the United States, Canada, and Mexico. The Santa Ana, Calif.-based company, and maker of BEHR®, KILZ® and WHIZZ® brands, are dedicated to meeting the project needs of DIYers, designers and professional paint contractors with an unwavering commitment to quality, innovation, and value. For more information, visit Behr.com. Professional paint contractors and designers can visit Behr.com/Pro to learn about products, color tools and services. Behr Paint Company is a subsidiary of Masco Corporation (NYSE: MAS).
Behr and the Behr logo are registered trademarks of Behr Process LLC.
About MattoBoard
MattoBoard is the first virtual sample library (VSamples©) and 3D moodboarding tool for interior designers. Designers can search, discover, curate and specify interior materials and products in real-time using light and shadow to examine texture and detail. Designers can download and share beautiful, photo-realistic boards and material spec sheets. MattoBoard’s mission is to bring a ‘touch and feel’ industry into the future by pioneering virtual sampling for designers and brands.
Media Contact: behrpro@mbooth.com
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SOURCE Behr Paint Company
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