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Wednesday, Nov 29, 2023

Briefs: Amgen, Tix, Research Solutions

A management proposal that gives Amgen Inc.’s shareholders an advisory say on executive compensation was overwhelmingly approved at the company’s annual meeting. The “Say on Pay” proposal was approved by 97 percent of those voting at the meeting held Thursday at the Four Seasons Hotel Westlake Village. All 10 directors who stood for re-election also were approved by shareholders, 88 percent of whom were represented at the meeting. The company announced the vote results after markets closed on Thursday. Shares closed Friday up $1.65 or 1.5 percent to $111.94 on the Nasdaq. A large construction industry trade show in Las Vegas and a late holiday cut into first quarter revenue of discount-ticket seller Tix Corp. The Studio City company reported net income of $491,000 (3 cents a share) for the quarter ended March 31, compared with $238,000 (1 cent) in the same period a year earlier. Revenue dropped 2 percent to $5.2 million. Revenue from the sale of discount show tickets and dinner reservations from kiosks on the Las Vegas strip were impacted by the large CONEXPO-CON/AGG 2014 trade show, which took away rooms from higher spending tourists. It didn’t help that Easter was on April 20 this year, falling out of the first quarter. “However with Easter in April of this year our second quarter revenues should benefit,” said Chairman and Chief Executive Mitch Francis, in a prepared statement. Shares remained at $1.07 with no trading Friday on the OTC Market. Research Solutions Inc. reported a narrower loss from operations last quarter as it awaits news on its application for a Nasdaq listing. The Encino company, which provides scientific journal articles for corporate and academic researchers, reported a net loss of $652,000, a 42 decline from a loss of $459,000 a year earlier. Revenue declined 19 percent to $8.6 million. No analysts follow the company. Chief Executive Peter Derycz said application for a Nasdaq listing, announced last month, would benefit the company. “There is no certainty that we will achieve the listing, however, we believe it would be a positive move for all shareholders,” he said, in a statement. Shares closed down 2 cents, or 1.5 percent, to $1.25 on the over-the-counter market.

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