Dear Friends of IMS, 

Below please find recent client activity that we thought might be of interest. As always, please do not hesitate to contact us should you have any questions or if we can be of assistance to any of your portfolio companies.


John Nesbett
President

IMS Client News 

April 2018
HEALTHCARE   
Sharps Compliance Corp. (NASDAQ: SMED), a leading full-service national provider of comprehensive waste management solutions including medical, pharmaceutical and hazardous, reported that Cardinal Health, as part of its Opioid Action Program, is donating more than 16,000 Sharps TakeAway Medication Recovery System™ envelopes to the National Community Pharmacists Association Foundation for distribution to NCPA member pharmacies... read more
INDUSTRIAL & MANUFACTURING
Deswell Industries (NASDAQ: DSWL), a leading manufacturer of injection-molded plastic parts and components, electronic products and subassemblies, metallic molds and accessory parts for original equipment manufacturers and contract manufacturers , reported net income of $3.7 million for the first six months of fiscal 2018, as compared to net income of $0.7 million in the prior year period... read more

IEC Electronics Corp. (NYSE American: IEC), a premier provider of electronic manufacturing services ("EMS") to advanced technology companies that produce life-saving and mission critical products for the medical, industrial, aerospace and defense sectors,  announced that the Company will open a new state-of-the-art manufacturing facility in Newark, N.Y. The new 150,000 square foot facility is projected to open in mid-2019... read more

IEC Electronics reported revenues of $21.2 million and gross profit margin of 7.2% for the first quarter of fiscal 2018... read more

Sparton Corp. (NYSE: SPA), a provider of complex and sophisticated electromechanical devices and instrumentation,  anti-submarine warfare technology and other electronic related products, and Ultra Electronics Holdings plc announced the award of subcontracts valued at $28.4 million to their ERAPSCO joint venture, for the manufacture of sonobuoys for the United States Navy...read more

Sparton reported net sales of $97.8 million, gross profit margin of 20.9% and adjusted EBITDA of $8.7 million for the second quarter of fiscal 2018...read more

Tel-Instrument Electronics Corp. (NYSE American: TIK),  a leading designer and manufacturer of avionics test and measurement solutions equipment, announced the introduction of its new handheld avionics flight-line Test Set, the "SDR-OMNI." The world's first "All-in-One" Avionics Test Set utilizes true software-designed radio technology that enables it to test all common avionics functions...read more

Tel-Instrument Electronics reported revenues of $2.6 million and gross margin of 35.7% for the third quarter of fiscal 2018...read more  
TECHNOLOGY   
Quest Solution Inc. (OTCQB: QUES),  a specialty systems integrator that offers field and supply chain mobility solutions, announced a $15 million debt reduction and the achievement of pivotal turnaround milestones, including a $3 million reduction in annual operating costs to date...read more

Shenandoah Telecommunications Company ("Shentel") (NASDAQ: SHEN),  a diversified communications provider in the Mid-Atlantic United States, reported net income of $60.6 million for the 2017 fourth quarter, compared to a net loss of $0.2 million in the fourth quarter of 2016. Adjusted OIBDA for the year ended December 31, 2017 increased 14.1% to $280.9 million...read more

Shenandoah Telecommunications Company announced that it has signed an Expansion Agreement and amended its Affiliate Agreement with Sprint to expand its affiliate territory, adding a population (POPs) of approximately 1.1 million...read more

Wireless Telecom Group, Inc. (NYSE American: WTT), a global designer and manufacturer of advanced RF and microwave components, modules, systems and instruments, announced that Boonton, a Wirless Telecom Group company, strengthened its position as the peak power measurement leader with the introduction of the 4500C, its next generation Peak Power Analyzer... read more

Wireless Telecom reported net revenues of $46.1 million for the year ended December 31, 2017, an increase of 47% compared to 2016. Adjusted EBITDA increased to $3.6 million... read more

Zoom Telephonics, Inc. (OTCQB: ZMTP),  a leading producer of cable modems and other communication products, reported net sales of $29.4 million for the fiscal year ended December 31, 2017, a 65.0% increase compared to 2016. Gross profit improved to $10.2 million, or 34.8% of sales, compared to $5.4 million, or 30.1% of sales, for the prior year... read more  

Zoom Telephonics announced it has begun shipments of the Motorola MM1000, a bonded 2.0 MoCA Adapter produced under exclusive license from Motorola Mobility LLC... read more 
CONSUMER PRODUCTS & RETAIL SERVICES   
Bassett Furniture Industries, Inc. (NASDAQ: BSET), a leading manufacturer and marketer of high quality home furnishings, announced consolidated sales of $110.3 million for the first quarter of 2018 compared to $105.9 million in the prior year period... read more 

Bassett Furniture announced that on March 7, 2018, Virginia W. Hamlet, a successful entrepreneur with a background in residential design and marketing, was elected a member of its Board of Directors... read more 

Bassett Furniture  announced that its Board of Directors has declared a dividend of $0.11 per share of outstanding common stock payable on May 25, 2018 to shareholders of record at the close of business on May 11, 2018...read more

XPEL Technologies Corp. (TSVX: DAP.U), a  leading supplier of automotive paint protection and window films, reported revenues of $67.8 million, a 30.9% increase over the prior year, and EBITDA of $4.27 million for the year ended December 31, 2017...read more
ENVIRONMENTAL
Hudson Technologies (NASDAQ: HDSN), a leading provider of innovative and sustainable solutions for optimizing performance and enhancing reliability of commercial and industrial chiller plants and refrigeration systems, reported record revenues of $140.4 million for the year ended December 31, 2017, an increase of 33% compared to $105.5 million in the comparable 2016 period. Adjusted net income increased to $0.47 per diluted share, compared to $0.32 per diluted share for 2016 ... read more

IR View
Why MiFID II Could Affect Your Company's Research Coverage and What To Do About It

MiFID stands for The Markets in Financial Instruments Directive. It provides the framework for legislation regarding investment services in Europe. MiFID II is the second installment of the initial directive aimed at addressing issues that were not fixed in the first version. Effective January 3, 2018, MiFID II's mission is to improve the transparency and accuracy of research in the market and to enhance investor protection... read more

Wait, ESG (Whatever That Means) Matters for Small Companies Too? The ABCs of ESG and What Small Companies Need To Do

Leaders in financial research are calling ESG a global movement. World renowned companies like Intel and Coca Cola are creating innovative approaches to integrate ESG into their investor relations, and the majority of the leading large public companies are publishing ESG reports. But what are small public companies doing and, more importantly, what should small public companies be doing? As more and more companies adopt sustainable policies and begin disclosing ESG information, this question will only become more imperative...read more
Video: "A Supercharged Boutique"
 
 
IMS - An Overview
IMS - An Overview
 
  
Institutional Marketing Services (IMS) 
is a full service investor relations firm offering a fresh and sensible approach to building credibility and reach in the investment community. The mission of the firm is simple: to make investor relations strategic, measurable and successful. Visit the Company's website at www.institutionalms.com. 

 
For more information about IMS, contact:
John Nesbett, President
Phone: (203) 972-9200