DALLAS, TX / ACCESSWIRE / April 20, 2021 / Envela Corporation (NYSE American:ELA) ('Envela' or the 'Company') has appointed Gateway Group, a leading strategic financial communications and capital markets advisory firm, to manage its expanded investor relations program initiatives, including providing corporate messaging and other consulting services to the Company.
Gateway will work closely with Envela management to develop and deploy a comprehensive outreach and communications program. Activities will include refining overall company and investment-oriented messaging and corporate positioning, strategic advisory services, and introductions to institutional investors, sell-side analysts, and other key influencers in the financial community. Gateway will also assist in organizing roadshows and securing invitations to select financial conferences and events, including its annual Gateway Conference.
'2020 was a banner year for Envela, reflected by our strong financial performance, including a 39% increase in revenue to a record $113.9 million and 170% increase in net income to a record $6.4 million,' said John Loftus, Chairman and CEO of Envela. 'Our business continues to benefit from robust growth vectors, including demand for precious metal-related products and electronics recycling. More specifically, our growing ECHG subsidiary, a provider of electronics reuse and recycling services, is well positioned to further capitalize on the accelerating sustainability trends and the increasing supply of used electronic products, which are contributing to one of the fastest-growing waste streams globally.'
'As a recommerce leader, Envela is squarely aligned with Environmental, Social, and Corporate Governance (ESG) mandates and the burgeoning interest from retail and institutional investors,' added Loftus. 'For these reasons, we believe the Envela story would be well received through an increased outreach and communications program. Our partnership with Gateway will allow us to engage with a broader audience of investors, ensuring that our message is being understood and appreciated. We look forward to collaborating with the Gateway team over the coming months to refine our investment thesis and leverage their capital markets network to raise Envela's profile.'
Envela and its subsidiaries engage in diverse business activities within the recommerce sector. These include recommercializing luxury hard assets, consumer electronics and IT equipment; and end-of-life recycling solutions. Envela assesses its inventory of recommerce purchases for their potential to be refurbished and resold as whole goods, or to be recycled for component parts or precious-metal value. Envela also offers comprehensive recycling solutions for a variety of other companies seeking responsibly to dispose of end-of-life products. Envela operates primarily via two recommerce business segments. Through DGSE, LLC the Company recommercializes luxury hard assets via Dallas Gold and Silver Exchange, Charleston Gold & Diamond Exchange, and Bullion Express brands (collectively, 'DGSE'). Through ECHG, LLC, the Company operates Echo Environmental Holdings, ITAD USA Holdings, and Teladvance (collectively, 'ECHG'), which recommercialize primarily consumer electronics and IT equipment, and provide end-of-life recycling services for various companies across many industries. Envela conducts its recommerce operations at retail and wholesale levels, through distributors, resellers, dedicated stores and online. The Company also owns and operates other businesses and brands engaged in a variety of activities, as identified herein. Envela is a Nevada corporation, headquartered in Dallas, Texas.
Additional information about Envela is available at its investor-relations sire, Envela.com.
This press release includes statements that may constitute 'forward-looking' statements, including statements regarding the potential future success of business lines and strategies. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, market conditions and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.
Investor Relations Contact:
Matt Glover and John Yi
Gateway Investor Relations
SOURCE: Envela Corporation
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