Investor ContactTom Filandro and Brendon Frey, ICR, Inc.ToppsIR@icrinc.com, Media Contact Keil Decker, ICR, Inc.ToppsPR@icrinc.com, TOPPS INTERMEDIATE HOLDCO, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Amounts in thousands, except share data), TOPPS INTERMEDIATE HOLDCO, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(Amounts in thousands)(unaudited), TOPPS INTERMEDIATE HOLDCO, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Amounts in thousands) (unaudited), TOPPS INTERMEDIATE HOLDCO, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS(Amounts in thousands)(unaudited), TOPPS INTERMEDIATE HOLDCO, INC. AND SUBSIDIARIESRECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO NET INCOME(Amounts in thousands)(unaudited). Even though a mission statement is short and concise, it may take a lot of time and money to develop. In effect, a companys mission is its identity, and the vision is its journey to accomplishing its mission. Parents and caregivers Explore parental leave policies and other benefits, company culture and general support. Throughout the years TOPPS has donated over $100,000 dollars to charities like the Sunshine Kids amongst others and also to the Clear Lake Chamber of Commerce for their Fourth of July Fireworks Spectacular. 2 to the Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on May 10, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is included in MUDS definitive proxy statement. Your mission, should you choose to accept it A mission statement should represent your purpose and reflect who you are; it should be no more than a single sentence, and it should be easily understood and easily remembered. Fanatics' trading card entity is valued at $10 billion after a $350 million round of funding last September. The following definitions are provided: Adjusted EBITDA is defined as earnings before interest, income taxes and depreciation and amortization, and further adjusted to exclude the impact of certain items that are non-cash, unrelated to Topps core revenue-generating operations or that affect the comparability of Topps results from period to period. Mission statements serve a dual purpose by helping employees remain focused on the tasks at hand, and encouraging them to find innovative ways of moving toward increasing their productivity with the eye to achieving company goals. About The Topps CompanyFounded in 1938, The Topps Company, Inc. is a global consumer products company that entertains and delights consumers through a diverse, engaging, multi-platform product portfolio that includes physical and digital collectibles, trading cards, trading card games, sticker and album collections, memorabilia, curated experiential events, gift cards and novelty confections. Topps encourages investors to review its financial statements included in the proxy statement filed by MUDS in their entirety and not to rely on any single financial measure. After the bulk of the work has been done, companies may struggle with "wordsmithing" or simply rearranging words instead of trying to generate value. Supplemental disclosures of cash flow information: Income taxes paid, net of refunds received, TOPPS INTERMEDIATE HOLDCO, INC. AND SUBSIDIARIESRECONCILIATION OF CONSOLIDATED ADJUSTED EBITDA TO NET INCOME(Amounts in thousands)(unaudited). About The Tornante CompanyThe Tornante Company, LLC is a privately held investment firm founded and owned by former Walt Disney Company CEO Michael Eisner. A mission statement is an action-oriented statement declaring the purpose an organization serves to its audience. Here are some other types of content and how they vary from a mission statement. We are looking for people with the passion, talent and focus to begin creating the highest quality mobile apps around sports properties such as MLB, NFL & NHL, and entertainment brands such as Star Wars, Marvel and Disney. First Quarter 2021 Financial ResultsNet sales increased by $59.3 million, or 55.3%, to $166.6 million for the first quarter of 2021, from $107.3 million in the first quarter of 2020, reflecting substantially higher Sports & Entertainment sales as well as an increase in Confections sales. A company's brand is also shaped by its mission statement. Topps does not provide a non-GAAP reconciliation for its forward-looking Adjusted EBITDA, as such reconciliation would rely on market factors and certain other conditions and assumptions that are outside of the companys control. 04. To the extent that forward-looking non-GAAP financial measures are provided, they are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. A mission statement isn't meant to necessarily be catchy; it's meant to be informative and useful for guiding high-level decisions. Such forward-looking statements may include estimated financial information, including with respect to revenues, earnings, performance, strategies, prospects and other aspects of the businesses of MUDS, Topps or the combined company after completion of the proposed business combination, and are based on current expectations that are subject to known and unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from expectations expressed or implied by such forward-looking statements. Additional Information About the Proposed Business Combination and Where to Find ItIn connection with the proposed business combination involving MUDS and Topps, MUDS filed a preliminary proxy statement with the SEC on May 12, 2021 relating to the proposed business combination, which has since been amended. In order to create a statement that's truly aspirational and inspiring, you're going to need to do a little bit of work. NEW YORK, Aug. 18, 2021 (GLOBE NEWSWIRE) -- The Topps Company, Inc. (Topps or the Company), a global leader in sports and entertainment collectibles and confections, today announced financial results for the second quarter ended July 3, 2021. OutlookFor 2021, the Company now expects net sales to be in the range of $740 million to $760 million, representing an increase of 31% to 34% over 2020 net sales of $567 million. Tailored Brands mission statement Tailored Brands provides a personal, convenient, one-of-a-kind shopping experience with compelling products and world-class service. The reduction in estimated public company costs to $6 million reflects the projected timing of completing the business combination with Mudrick Capital Acquisition Corporation II (MUDS). When done wrong, a mission statement is just another line of jargon everyone pretty much ignores. TOPPS had a small armada of very fast boats (by mid-90s standards) and became a force to be reckoned with on the Gulf of Mexico coast. The company owns Topps and Portsmouth Football Club, of the English Football League, and has created critically acclaimed series such as Undone for Amazon Studios, BoJack Horseman and Tuca and Bertie for Netflix, and NOS4A2, an AMC Original Series. To craft a mission statement, consider how your company impacts customers, donors, investors, or your community and why you strive to help these parties. Net income for the first quarter of 2021 was $23.4 million compared to $0.4 million in the first quarter of 2020. Please see the reconciliation of non-GAAP financial measures to the most closely comparable GAAP measures at the end of this press release. A good mission statement helps everyone in the company make the right decisions. These documents can be obtained free of charge from the sources indicated above. Non-GAAP Financial Measures This press release includes certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted EBITDA margin, that are not prepared in accordance with accounting principles generally accepted in the United States (GAAP). Claim This Page Mission, Vision & Values at Similar Size Companieson Comparably Collective Health 201-500 Employees Blend 201-500 Employees First, outline what your company does. (6) Grade B. First, it outlines a company's goals and position in the industry for its customers, competitors, and other stakeholders. Topps encourages investors to review its financial statements included in the proxy statement filed by MUDS in their entirety and not to rely on any single financial measure. The improvement mainly reflects a mix shift of net sales to e-commerce in Physical Sports & Entertainment and the improved profitability of Sports & Entertainment, partially offset by higher freight costs for both Sports & Entertainment and Confections. Its sponsor is an affiliate of Mudrick Capital Management, L.P., which currently manages approximately $3.5 billion with a specialty in event-driven and special situation investing in public and private companies in North America. . TOPP's Mission Statement: TOPP Industries, Inc. is committed to its customers and its product, and realizes that quality, price, and selection is its main responsibility. We believe we are well positioned to capitalize on the many growth opportunities that exist for our business., Michael Eisner, Chairman of The Topps Company, commented, I am pleased with our fantastic start to 2021. A reconciliation between the GAAP and non-GAAP measures is provided at the end of this press release. 8th-grade reading level. A mission statement is a brief description of the overarching meaning of the company or nonprofit. Copyright 2023 TOPP Industries Inc, All rights reserved. Rubin called Topps an iconic brand in a statement announcing the move. Every company should have a precise statement of purpose that gets people excited about what the company does and motivates them to become part of the organization. In addition, the documents filed by MUDS may be obtained free of charge from MUDS by directing a request to: Mudrick Capital Acquisition Corporation II, 527 Madison Avenue, Sixth Floor, New York, New York 10022. Mission statements aren't just for small or large companies. Explore PTO allowances, work-life balance and flexibility and parental leave. Microsoft's mission statement is: "Our mission is to empower every person and every organization on the planet to achieve more.". A brand is an suite of elements that encompasses a company's identity. $19.99. Adjusted EBITDA*, is now expected to be in the range of $130 million to $140 million, representing an increase of 41% to 52% over 2020 Pro Forma Adjusted EBITDA* of $92 million. A club name, logo, set of bylaws, and the election of officers soon followed. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the proposed business combination. It attempts to succinctly explain why a company exists and what its purpose is. Topps believes that this non-GAAP measure provides meaningful information to assist investors and stockholders in understanding Topps financial results and assessing its prospects for future performance, and reflects an additional way of viewing aspects of Topps operations that, when viewed with its GAAP financial measures, provides a more complete understanding of Topps business. Now seven decades later, artists and creatives around the globe are revisiting and reimagining 70 years of iconic baseball card designs, each selecting their own MLB players and Topps designs to craft a unique story. This could also include soliciting ideas or memories from employees. Encourages High-Quality Output. Core competencies are the resources and capabilities that comprise the strategic advantages of a business. Adjusted EBITDA* in the first quarter of 2021 increased 178.0% to $35.9 million with an Adjusted EBITDA* margin of 21.5% compared to Adjusted EBITDA* of $12.9 million with an Adjusted EBITDA* margin of 12.0% in the first quarter of 2020. Business Combination On May 12, 2021, Mudrick Capital Acquisition Corporation II (MUDS) (NASDAQ: MUDS), a publicly-traded special purpose acquisition company, filed its preliminary proxy statement with the Securities and Exchange Commission (the SEC) in connection with its proposed business combination with The Topps Company. Prior to joining Topps, Mr. Leiner worked for Madison Dearborn Partners as an Associate, responsible for evaluating new growth equity and leverage buyout transactions globally and managing existing investments, including the Topps Company investment. Our facility boasts over 300,000 square feet of around-the-clock manufacturing and houses an extensive inventory of lift station and wastewater components ready for immediate shipment. For additional information visit topps.com, play.toppsapps.com, toppsdigitalservices.com, toppsnfts.com, Candymania.com, investors.thetoppscompany.com. Readability grade; A. Although MUDS may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so whether as a result of new information, future events, changes in assumptions or otherwise except as required by applicable securities laws. It should not be an impossible statement. First Quarter 2021 Financial HighlightsComparison of the Thirteen Weeks Ended April 3, 2021 to the Fourteen Weeks Ended April 4, 2020, First Quarter 2021 Segment HighlightsComparison of the Thirteen Weeks Ended April 3, 2021 to the Fourteen Weeks Ended April 4, 2020, *Non-GAAP measure; complete definitions of Topps non-GAAP measures are provided herein under Non-GAAP Measures Disclosures., Michael Brandstaedter, Chief Executive Officer of The Topps Company stated, Fiscal 2021 is off to a great start. The statement is generally short, either a single sentence or a short paragraph. Upon closing of the transaction, the combined company will be named Topps Companies, Inc. and will be listed on NASDAQ under the new ticker symbol TOPP.. Topps does not provide a non-GAAP reconciliation for its forward-looking Adjusted EBITDA, as such reconciliation would rely on market factors and certain other conditions and assumptions that are outside of the companys control. The 3 Pillars of Corporate Sustainability, Ethical Standards You Should Expect From a Financial Advisor, 7 Popular Marketing Techniques for Small Businesses, 10 Phrases You Should Ban From Your Resume, Advantages and Disadvantages of Mission Statements, Core Competencies in Business: Finding a Competitive Advantage, Value Proposition: How to Write It With Examples, Corporate Culture Definition, Characteristics, and Importance, What Is Brand Management? Remember to keep the mission statement short and to the point. For additional information visit topps.com, play.toppsapps.com, toppsdigitalservices.com, Candymania.com, investors.thetoppscompany.com. TOPPS was a club affiliated member of ABPA (American Power Boat Racing) for many years. This is key. It is best known as a leading producer of baseball cards and other sports-related trading cards. The company is led by Chief Executive Officer and Chairman of the Board of Directors, Jason Mudrick, Chief Financial Officer, Glenn Springer, Vice President, Victor Danh and Vice President, David Kirsch. Fiberglass Basins, Covers and Accessories. Net effect of changes in operating assets and liabilities: Accounts payable, accrued expenses and other current liabilities, Acquisitions of property, plant and equipment, Effect of exchange rate changes on cash and cash equivalents, Cash and cash equivalents beginning of period, Cash and cash equivalents end of period. TOPP offers quality sewage basins, sump basins and wastewater basins made of fiberglass and polyethylene that provide answers for both budget and performance. She holds a Bachelor of Science in Finance degree from Bridgewater State University and helps develop content strategies for financial brands. This, in turn, helps an individual maintain a healthy work/life balance that increases their personal achievement in all of these areas. A social entrepreneur is a person who pursues an innovative idea with the potential to solve a community problem. This may be a good you produce or a service you provide to your. Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. In short, a mission statement can serve as a roadmap of strategic planning to work toward the company's vision statement. These factors include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could result in the proposed business combination not being completed at all or on the expected timeline, including as a result of the termination of the definitive documentation with respect to the proposed business combination or the failure to obtain approval of MUDS stockholders or other conditions to closing in the definitive documentation with respect to the proposed business combination; (2) the outcome of any legal proceedings that may be instituted against MUDS or Topps or any of their respective directors or officers, following the announcement of the proposed business combination (3) the ability to meet applicable NASDAQ listing standards; (4) the risk that the proposed business combination disrupts current plans and operations of Topps business as a result of the announcement and consummation of the proposed business combination; (5) the inability to complete the private placement (6) changes in domestic and foreign business, market, financial, political and legal conditions; (7) the ability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the proposed business combination; (9) changes in applicable laws or regulations; (10) the impact of the global COVID-19 pandemic on any of the foregoing risks; and (11) other risks and uncertainties indicated from time to time in the proxy statement relating to the proposed business combination, including those under Risk Factors therein, and other documents filed or to be filed with the SEC by MUDS. MUDS stockholders and other interested persons are advised to read, the preliminary proxy statement, any amendments thereto, and, when available, the definitive proxy statement and any other documents filed, in connection with MUDS solicitation of proxies for its special meeting of stockholders to be held to approve the proposed business combination and other matters, as these materials will contain important information about MUDS, Topps and the proposed business combination. SG&A in the second quarter of 2021 was $39.1 million, or 18.4% of net sales, compared to $26.4 million, or 22.1% of net sales in the second quarter of 2020. Investopedia requires writers to use primary sources to support their work. A mission statement is a brief but clear group of words that explains the core values of a company or organization. A company may solicit employees to incorporate adding its mission statement as part of a company-wide standard e-mail signature block. Because a company's mission statement is often pretty short, it is easy to incorporate into marketing material. Consolidated gross margin improved 200 basis points, to 39.4% in the first quarter of 2021 from 37.4% in the first quarter of 2020. In addition, it's a perfect introduction for someone who has never heard of your company or wants to know more. To set my personal life aside and focus on achieving my goals regarding my education and building a solid career for myself. About Mudrick Capital Acquisition Corporation IIMUDS is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Fun office atmosphere. A mission statement is used by a company to explain, in simple and concise terms, its purpose(s) for being. The Texas Offshore Performance Squadron (TOPPS) was formed in 1985 in Clear Lake, Texas by a small group of high performance boating enthusiasts, many of whom had graduated from hot rod lake and drag boatsnot to mention hot cars! It demonstrates thoughtful leadership, reputability, and inspiration to potential investors, employees, or donors. Topps Digital Services is a leading processor, distributor and program manager of prepaid gift cards and provider of cloud-based financial services and white label e-gift solutions for widely recognized digital businesses that include Airbnb, Deliveroo, DoorDash, Hulu, Instacart, Netflix, Nike, Twitch and Uber.
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