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Elbit Systems Reports Impact on its Fourth Quarter 2023 Financial Results Due to Non-Cash Expenses

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Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) (“Elbit Systems” or the “Company”) announced today that it expects to record non-cash expenses of approximately $52 million in the fourth quarter of 2023. The expenses are related to the write-off of inventory due to the closing of an underperforming subsidiary with limited synergies to the Company, and of contract assets related to a discontinued project managed under the subsidiary.
Approximately $34 million of the expenses are related to an uncollectible balance of contract assets under the discontinued project. These expenses will be recorded in the “general and administrative” line item in the consolidated statement of income.
Approximately $18 million of the expenses are related to the restructuring and discontinuing of the subsidiary’s activities. The restructuring expenses will be recorded in the “cost of revenues” line item in the consolidated statement of income and will be eliminated in the non-GAAP results due to their non-recurring nature.
The overall impact of these expenses on the Company’s financial results for the fourth quarter and full year 2023 will be included in the Company’s earnings release, which is planned to be released in March 2024.
The post Elbit Systems Reports Impact on its Fourth Quarter 2023 Financial Results Due to Non-Cash Expenses appeared first on HIPTHER Alerts.

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Unmanned Weighbridge Centering System: 24/7 Automated Weighing Solution

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Helios Tech Solutions, a leader in advanced automation solutions and Artificial Intelligence, proudly introduces its Unmanned Weighbridge Centering System. This innovative technology improves efficiency through continuous operation, reduced waiting times, elimination of human errors, enterprise-level integration, and enhanced security and control over the weighing process. It facilitates fully automated weighing operations 24*7, eliminating the need for a dedicated operator and enhancing operational efficiency.
The Unmanned Weighbridge Centering System integrates a variety of peripheral devices, intended to perform tasks typically managed by a weighbridge operator. These components include positioning sensors and cameras, which work together to ensure accurate truck alignment on the weighbridge. The system also incorporates display and PA (Public Address) systems that provide real-time feedback and instructions to drivers, thereby facilitating seamless and efficient weighing operations. Additionally, boom barriers are seamlessly integrated into the system to regulate access and enhance traffic flow, thereby improving operational efficiency and safety protocols.
Designed as a standalone solution, this system can be easily integrated with new or existing weighbridges of any make, supporting both uni-directional and bi-directional operations.
The Unmanned Weighbridge Centering System offers several key features and benefits to enhance operational efficiency and data management. Equipped with an RFID, Reader proudly manufactured in India, the system enables swift and precise vehicle identification, streamlining the weighing process. An IP Camera ensures thorough auditing by capturing truck images, adding an extra layer of security and accountability. Voice Guidance and Information Displays provide continuous support to drivers, ensuring smooth operations throughout. Furthermore, the system seamlessly integrates with enterprise resource planning (ERP) systems such as Oracle, SAP, Microsoft Dynamics, and Tally, allowing for centralized management of weighing data across multiple sites, optimizing workflow and facilitating effective decision-making.
“Presently, the HTS Unmanned Weighbridge Centering System is actively deployed across diverse industry sectors such as agriculture, cement, construction, sugar, and mining, efficiently handling a significant volume of daily transactions,” said Mr. Sidakpreet Singh Batra, Managing Director of Helios Tech Solutions. “This innovative solution offers significant cost savings and operational efficiencies by eliminating manual data entry, reducing human error, and ensuring 24/7 availability. We are proud to revolutionize weighing operations with this advanced technology.”
The post Unmanned Weighbridge Centering System: 24/7 Automated Weighing Solution appeared first on HIPTHER Alerts.

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Innodisk Expands Edge AI Applications and Intelligent Solution at Computex 2024 with New Brand Strategy

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Innodisk, a leading global AI solution provider, is showcasing its comprehensive new products at Computex 2024 with a focus on edge AI. Key highlights include the industry’s pioneering CXL 2.0 memory expansion, E3.S SSD, and innovative MIPI over Type-C camera technology for machine vision. Live demonstrations of smart manufacturing PPE recognition and intelligent people tracking will emphasize Innodisk’s custom edge AI capabilities. This event also unveils Innodisk’s new brand vision, “Architect Intelligence,” bringing out its commitment to building intelligent solutions with global partners.
Expanding Industrial Product Lines to Meet AI and Edge Serve Standards
Reliable and high-performance memory and storage are essential for AI and edge computing, particularly as edge servers evolve and demand high data throughput and resilience in extreme environments. This year at Computex, Innodisk will unveil the industry’s first industrial-grade CXL 2.0 memory expansion for high scalability. Additionally, Innodisk is staying ahead of the curve by launching DDR5 LPCAMM2 and DDR5-8800 MRDIMM memory, both adhering to JEDEC’s advanced standards.[1] The showcase will further feature the award-winning E1.S Gen4 SSD series alongside wide-temperature SSDs tailored for edge servers, such as the E1.S/E3.S, available in various form factors. The range also includes 16TB high-capacity SSDs designed to meet evolving storage needs.
Further, Innodisk’s recent focus on embedded camera modules for AI machine vision development is also crucial for advancing edge AI applications. Debuting at Computex, the innovative “MIPI over Type-C” camera technology converts signal through exclusive adapter board design and enhances platform compatibility, significantly extending the length of MIPI camera cables. This unlocks applications in areas such as autonomous mobile robots (AMR) and shared mobility. Innodisk will also display a full range of camera module products for USB and MIPI interfaces.
AI in Action: Smart Cities and Industrial Applications
Beyond industrial modules, Innodisk integrates AI computing technologies with software, hardware, and third-party technologies to create various edge AI solutions. At Computex, Innodisk will introduce “InnoTracking,” a smart people-tracking solution capable of accurately identifying and tracking specific individuals across multiple cameras and timeframes, enhancing public safety in cities, financial institutions, entertainment venues, and retail spaces.
Under the simultaneous trends of ESG and industrial automation, worker safety in hazardous environments becomes a crucial focus for enterprises. Innodisk’s PPE recognition solution uses an FPGA platform to process real-time images from four cameras simultaneously, ensuring workers maintain adherence to safety protocols. In case of violations, the system promptly notifies supervisors with detailed information to initiate appropriate responses. Moreover, Innodisk also collaborates with Network Optix, a premier enterprise video platform provider for security, transportation, and wide varieties of smart spaces solutions, to enrich user experiences of this solution.
The “iCAP Air” air quality management solution addresses ESG requirements by combining patented air quality detection technology with sensors, edge servers, cloud management interfaces, and IoT ventilation controllers. This solution is suitable for smart factories and healthcare facilities, enabling real-time intelligent decision-making.
“Architect Intelligence” – Innodisk’s Brand Strategy for the AI Era
With nearly two decades in the industry, Innodisk has elevated its brand and become a global leader in product technology. The new “Architect Intelligence” concept aligns with Innodisk’s edge AI strategy, emphasizing the practical implementation of AI at the industrial edge. Under this concept, Innodisk integrates various product lines into nine intelligent series, each represented by diverse colors, symbolizing the limitless potential of AI applications and Innodisk’s innovative spirit. Furthermore, these colored blocks represent the flexibility of solutions and collaborative effort to architect AI solutions with customers. See the future of edge AI in actions! Visit Innodisk at Booth J0110, Hall 1, 1F, Nangang Exhibition Center from June 4th to 7th to explore more.
[1] JEDEC standards are subject to change during and after the development process, including disapproval by the JEDEC Board of Directors.
The post Innodisk Expands Edge AI Applications and Intelligent Solution at Computex 2024 with New Brand Strategy appeared first on HIPTHER Alerts.

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Liquid Diamonds Poised for Major Growth After Raising Rs. 9 Crores in Funding

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Liquid Diamonds, a B2B diamond sourcing platform with offices in New York and Mumbai, is excited to introduce a revolutionary new technology that ensures price transparency, cost savings, and real-time access for jewelry retailers across the globe through a patented reverse auction system. Previously only available to diamond wholesalers, this expansion was made possible by an outpouring of support from diamond industry veterans as well as certain members of the New York Angels, raising over Rs. 9 crores ($1.1M). Varun Alagh of Mamaearth, Aakrit Vaish of Haptik and Miten Sampat of CRED also participated in this round.
The investors believe the jewelry industry has been left behind compared to other sectors such as auto, finance, and pharmaceuticals. Their goal is to propel it into the modern age, attracting substantial financial capital into the trade.
Donna Redel, a member of New York Angels, as well as an early investor and mentor to Liquid Diamonds, now serves as a member of the company’s board of directors. She shared that she “is optimistic about the future of the diamond industry, as modern technology is slowly being accepted by a dated industry that is not currently data rich.” She continued that the “application of technology and access to data can benefit every part of the value chain. Liquid Diamonds is at the forefront of this revolution and will continue to establish itself as a great asset to the jewelry industry at large.”
Liquid Diamonds is helping diamond cutting and polishing companies, based in Surat and Mumbai access global wholesale markets of diamonds and jewelry. Liquid Diamonds has already facilitated the export of over Rs. 400 crores ($50M) in diamonds from India to the United States, showcasing the power of the platform.
Powered by a patented universal continuous double auction technology, the platform ensures diamond buyers get the best price by putting suppliers into open competition with each other. On the supply side, they offer a SaaS-based Pricing Co-Pilot that helps diamond suppliers price their diamonds competitively using artificial intelligence (AI) and machine learning.
Founders of Liquid Diamonds, Kashyap Mehta, Mark Molloy and Chetan Gupta, combine their deep family connections in the diamond industry with their technology backgrounds to revolutionize the industry. With the cross-border nature of the business, they have product development and ops teams based in the Bharat Diamond Bourse in Mumbai while sales, delivery and customer service functions are based in the Diamond District in New York.
“Our vision is to democratize the diamond market, allowing buyers to receive fair market value regardless of whether they are buying 5 or 500 diamonds,” said Kashyap Mehta, CEO of Liquid Diamonds. “This enhanced focus on retailers is an exciting advancement for the whole industry, and we are happy to report an increase in both time spent on the platform and a strong buyer ROI. By opening new opportunities and providing price transparency, we believe this will revolutionize the way the jewelry market conducts business.”
Those interested in utilizing this new service can do so by registering on www.liquid.diamonds and completing the KYC process to access the platform.
The post Liquid Diamonds Poised for Major Growth After Raising Rs. 9 Crores in Funding appeared first on HIPTHER Alerts.

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