WOODLAND PARK, N.J. - Anterix (NASDAQ: NASDAQ:ATEX), a company specializing in 900 MHz broadband solutions for the energy sector, has announced the nomination of nine candidates for its Board of Directors for the 2024-2025 term. The slate includes three new nominees: Scott Lang, William Heard, and Mark Fleischhauer, who bring extensive experience in emerging technologies and value creation.
The nominees were selected unanimously by the current Board and will stand for election at Anterix's 2024 Annual Meeting of Stockholders. The trio is set to join six incumbents: Jeffrey Altman, Leslie Daniels, Thomas R. Kuhn, Morgan O'Brien, Robert Schwartz, and Mahvash Yazdi.
Scott Lang's background includes a significant tenure at Silver Spring Networks, where he played a key role in developing utility smart grid technology. His leadership at Turvo, a supply chain and logistics software company, further underscores his expertise in technology and utilities.
William Heard, CEO and Chief Investment Officer of Heard Capital LLC, brings a wealth of knowledge from his experience as a special situations analyst and his involvement with various economic and global affairs organizations.
Mark Fleischhauer, formerly a Partner and Assistant Portfolio Manager at Owl Creek Asset Management, has a history of focusing on public equities, particularly in the telecommunications sector.
Executive Chairman Morgan O'Brien expressed gratitude to the outgoing board members, Singleton McAllister, Greg Haller, and Greg Pratt, for their significant contributions during Anterix's formative years.
Anterix, known for its partnerships with leading utilities and technology firms, seeks to leverage its extensive 900 MHz spectrum holdings to deliver modernized grid solutions. The company's ecosystem boasts over 100 members dedicated to advancing communications capabilities for a more efficient energy future.
This board nomination announcement is based on a press release statement from Anterix.
In other recent news, Anterix Inc. has released its fourth-quarter and fiscal year 2024 results. The financial outcomes for the period ending March 31, 2024, were disclosed in a recent 8-K filing with the Securities and Exchange Commission. In addition to the earnings release, an update on its Demonstrated Intent key performance indicator was shared on the company's investor relations website.
These are among the recent developments in the company.
InvestingPro Insights
As Anterix (NASDAQ: ATEX) positions itself for strategic growth with the nomination of new board members, investors are closely monitoring the company's financial health and market performance. According to real-time data from InvestingPro, Anterix holds a market cap of 742.4 million USD, signaling a substantial presence in the broadband solutions market for the energy sector.
An InvestingPro Tip highlights that Anterix's revenue has seen a remarkable growth of 118.39% over the last twelve months as of Q4 2024. This growth is a testament to the company's expanding partnerships and innovative approach to modernizing grid solutions. Additionally, the company's shares are trading near their 52-week high, with a price percentage of 98.84% of that high, reflecting strong investor confidence and a robust return of 32.38% over the past year.
Investors should note, however, that Anterix is currently not profitable, with an adjusted P/E ratio of -20.98. This is corroborated by an InvestingPro Tip indicating that analysts do not anticipate the company will be profitable this year. Nevertheless, Anterix's liquid assets exceed its short-term obligations, providing a cushion for potential investments and operational expenses.
For those interested in a deeper analysis, InvestingPro offers additional insights. There are 12 more InvestingPro Tips available, which can provide a more comprehensive understanding of Anterix's financial position and market outlook. To access these tips, visit: https://www.investing.com/pro/ATEX. Moreover, readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, enhancing their investment research with premium financial tools and data.
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