Public Invited to Monitor Conference Call at 5 p.m. Eastern Time

OAKS, Pa., Oct. 10, 2024 /PRNewswire/ — SEI® (NASDAQ: SEIC) intends to release earnings for the third quarter 2024 on Wednesday, Oct. 23, 2024 after the market closes. The company will hold a conference call to discuss these financial results beginning at 5 p.m. Eastern time.

The public is invited to listen to the call and replay at www.seic.com/ir-events.

About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of June 30, 2024, SEI manages, advises, or administers approximately $1.5 trillion in assets. For more information, visit seic.com.

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SOURCE SEI Investments Company

James Altucher spotlights ‘AI 2.0 Wealth Window,’ likening it to early investments in Amazon and Bitcoin over the long term

NEW YORK, Oct. 10, 2024 /PRNewswire-PRWeb/ — James Altucher, a renowned best-selling author, former Wall Street hedge fund manager, and named among LinkedIn’s “Top Four Most Influential People in the World” in 2015, is highlighting what he calls the “AI 2.0 Wealth Window.” Altucher suggests this fleeting opportunity could mark the greatest wealth accumulation period in recent times, accessible to the average American.

“AI 2.0 represents not just a step forward, but a significant leap in technology, promising substantial financial prospects for those attentive enough to seize them,” stated James Altucher. “This period of opportunity is akin to early investments in Amazon back in 1997 or Bitcoin in 2013—a life-altering chance.”

Understanding the AI 2.0 Wealth Window

The “AI 2.0 Wealth Window” encompasses a brief yet potent period ripe with opportunity, brought forth by the advent of next-generation artificial intelligence technologies poised to transform a myriad of sectors. This new wave of AI goes beyond its predecessors, promising to enhance sectors like healthcare, cybersecurity, education, and manufacturing significantly.

Altucher likens the imminent AI surge to the Gilded Age—a time of brisk economic expansion and wealth generation spurred by innovations such as electricity and automobiles. He posits that AI 2.0 will usher in a similar era of innovation, providing fertile ground for investors to amass significant wealth over the long term.

The Importance of Current Opportunities

The “wealth window” presents a narrow yet vital period for everyday investors to participate before these AI advancements become widely adopted, potentially increasing valuations and reducing the chances for substantial gains.

“Tech giants like Elon Musk, Bill Gates, and Jeff Bezos are heavily invested in AI technologies. However, this time around, the average investor also has the chance to engage early and potentially reap substantial rewards,” explained Altucher. “The window is presently open but won’t remain so once the broader market catches up, especially after these technologies gain the spotlight at the upcoming World Summit AI.”

Future Impacts of AI 2.0

AI 2.0 is set to transform industries, from accelerating drug design to innovating manufacturing with AI-driven autonomous robots. While current AI applications are just scratching the surface, AI 2.0 is expected to bring transformative advancements that will reshape the economic landscape.

To underscore the potential impact, Altucher points to the success of early investors in companies like Amazon, Apple, and Tesla, who saw their investments multiply as these technologies evolved over the last two decades. With AI 2.0, he foresees even more significant opportunities for early adopters.

About James Altucher

James Altucher is an acclaimed author, entrepreneur, and investor with a rich background in artificial intelligence, venture capital, and hedge funds. He has authored three best-selling books on investing and entrepreneurship, including “Choose Yourself,” celebrated as one of USA Today’s “12 Best Business Books of All Time.” Altucher has led successful hedge funds, invested in burgeoning startups, and made numerous accurate high-profile predictions.

Media Contact

Derek Warren, Paradigm Press Group, 888-888-8888, dwarren@paradigmpressgroup.com, https://paradigmpressgroup.com/ 

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SOURCE James Altucher

60.1% Year Over Year Increase in Second Quarter Revenue117.8% Year Over Year Increase in Second Quarter Gross ProfitCash and Cash Equivalents of $1.28 Per Diluted Share

HONG KONG, Oct. 10, 2024 /PRNewswire/ — Highway Holdings Limited (Nasdaq: HIHO, “the Company” or “Highway Holdings”) today reported results for the second quarter of fiscal year 2025 and the six months ended September 30, 2024, with second quarter of fiscal year 2025 revenue growth of 60.1% and gross profit growth of 117.8% on a year over year basis.

Roland Kohl, chairman, president and chief executive officer of Highway Holdings, noted, “While the positive results reflect an improving environment at our customers, we still have a lot of ground to make up to return to our normalized pre-COVID business level. The rebound continues but has been slowed by the uncertain macro environment, following the fallout of COVID, as orders for customer products have been adversely impacted by the Russia/Ukraine war and the conflict in Mid-East. In addition, our business progress is not immediately reflected on a net income comparison, and we caution investors this is not an accurate measure, because we benefitted in the year ago period from the reversal of previously taken bad debt provisions. With that being said, we are encouraged with our progress and expect an improving business environment over the coming quarters will help our business now that we have stopped the bleeding and can focus on expanding revenue growth, profitability and free cash flow.”

Mr. Kohl concluded, “We are cautiously optimistic that we have come through the worst part of this low business cycle. Even with our existing products still experiencing below normal levels of demand, we are coming online shortly with the new motor project we previously announced. Production is expected to start in the fiscal third quarter of 2025 and should ramp up in the fiscal fourth quarter of 2025. As a result, if our core existing business remains stable or improves slightly, the positive impact of the additional new business will help drive a further improvement in results. Our company is financially very healthy with over $5.6 million in cash on hand and a net cash positive position. At the same time, as part of our business growth strategy, we are evaluating numerous possible ventures, which could substantially improve the Company’s future. We are fully committed to building value for the Company and all shareholders, as we continue to build on our track record of success over the long-term.”

Select Additional Financial Results:

Gross profit for the second quarter of fiscal year 2025 was $834,000 compared with $383,000 in the year ago period mainly due to the 60.1% increase in sales over the same period. Gross profit as a percentage of sales for the second quarter of fiscal year 2025 was 39.4 percent, compared to 29.0 percent in the year ago period. Gross profit for the first half of fiscal year 2025 was $1,495,000 compared with $760,000 in the year ago period. Gross profit as a percentage of sales for the first half of fiscal year 2025 was 37.4 percent compared with 28.5 percent in the year ago period.

Selling, general and administrative expenses for the second quarter of fiscal year 2025 increased to $724,000 from $272,000, primarily reflecting the above-noted bad debt provision reversal in the year ago period.

Net income for the second quarter of fiscal year 2025 reflects a currency exchange gain of $58,000 compared to a $14,000 gain in the year ago period mainly due to a weakening of the Kyat. The Company reported a currency exchange gain of $96,000 for the first half of fiscal year 2025, compared with a $31,000 gain in the year ago period.

The Company had interest income of approximately $58,000 for the second quarter of fiscal year 2025, and interest income of approximately $103,000 for the first half of fiscal year 2025 due to the increase in interest rates.

The Company’s balance sheet remains strong, with total assets of $11.0 million dollar and cash and cash equivalents in excess of $5.6 million, or approximately $1.28 per diluted share. The cash and cash equivalent amount exceeded all of its short- and long-term liabilities by approximately $1.4 million. Total shareholders’ equity at September 30, 2024, was $6.8 million, or $1.54 per diluted share.

About Highway Holdings Limited

Highway Holdings is an international manufacturer of a wide variety of quality parts and products for blue chip equipment manufacturers based primarily in Germany. Highway Holdings’ administrative offices are located in Hong Kong and its manufacturing facilities are located in Yangon, Myanmar, and Shenzhen, China. For more information visit website www.highwayholdings.com.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements which involve risks and uncertainties, including but not limited to economic, competitive, governmental, political and technological factors affecting the company’s revenues, operations, markets, products and prices, and other factors discussed in the company’s various filings with the Securities and Exchange Commission, including without limitation, the company’s annual reports on Form 20-F.

(Financial Tables Follow)

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SOURCE Highway Holdings Limited