secwatch / observer

Earnings Releases

Quarterly and annual results disclosed under 8-K Item 2.02.

8-K items 2.02 JSON
CIIT Tianci International, Inc.

Tianci International, Inc. reported nine months ended April 30, 2026 results: net income $594,453.

“net loss of $594,453 for the nine month period”
CIIT Tianci International, Inc.

Tianci International, Inc. reported fiscal quarter ended April 30, 2026 results: net income $91,545.

“the Company reported net income of $91,545 in the quarter ended April 30, 2026”
PRIM Primoris Services Corp

Primoris Services Corp reported the full year of 2026 results: net income between $71.0 million and $101.0 million, EPS between $1.30 and $1.85 per fully diluted share. Guidance lowered.

“For the full year of 2026, net income is expected to be between $71.0 million and $101.0 million. Earnings per share (“EPS”) is expected to be between $1.30 and $1.85 per fully diluted share.”
TPCS TECHPRECISION CORP

TECHPRECISION CORP reported fiscal year 2027 results: revenue $35.0 million - $37.0 million. Guidance initiated.

“2027 Full year consolidated revenue is projected to be between $35.0 million - $37.0 million with EBITDA of $3.0 million - $4.0 million”
TPCS TECHPRECISION CORP

TECHPRECISION CORP reported twelve months ended March 31, 2026 results: revenue $31.6 million, net income $1.6 million.

“million, compared with net income of $0.1 million in the same period a year ago. Consolidated Financial Results - Fiscal 2026 Twelve Months Ended March 31, 2026 · Revenue was $31.6 million, a 7% decrease on a favorable but different mix of customer projects. · Cost of revenue was $26.7 million, or a 10% decrease on lower revenue but improving manufacturing process.”
TPCS TECHPRECISION CORP

TECHPRECISION CORP reported three months ended March 31, 2026 results: revenue $8.1 million, net income $0.4 million.

“the three and twelve months ended March 31, 2026 to the same prior year period: Consolidated Financial Results - Fiscal 2026 Three Months Ended March 31, 2026 · Revenue was $8.1 million, a 15% decrease on a changing project mix at both segments. · Cost of revenue was $7.0 million, or a 6% decrease in lower manufacturing costs. · Gross profit was $1.1 million, a”
EBF ENNIS, INC.

ENNIS, INC. reported the quarter ended May 31, 2026 results: revenue $98.6 million, net income $9.9 million, EPS $0.39 per diluted share.

“The Company’s revenues for the first quarter ended May 31, 2026 were $98.6 million compared to $97.2 million for the same quarter last year, an increase of 1.4%. Gross profit totaled $31.1 million, or 31.5%, as compared to $30.2 million, or 31.1% for the same quarter last year. The Company's gross profit margin improved sequentially from 29.2% for the fourth quarter ended in fiscal year 2026. Net earnings for the quarter were $9.9 million, or $0.39 per diluted share as compared to $9.8 million, or $0.38 per diluted share for the same quarter last year.”
IVF INVO Fertility, Inc.

INVO Fertility, Inc. reported first quarter ended March 31, 2026 results: revenue $2,015,225, net income $(5.5) million.

“announced financial results for the first quarter ended March 31, 2026. Q1 2026 Financial Highlights (all metrics compared to Q1 2025 unless otherwise noted) ● Revenue was $2,015,225, an increase of 23% compared to $1,637,185. ● Consolidated clinic revenue increased 22% to $1,982,233, compared to $1,621,553. ● Net loss from continuing operations was $(5.5)”
POWW Outdoor Holding Co

Outdoor Holding Co reported Fiscal 2026 results: revenue $51.1 million.

“Net revenues increased 3.5% over the year to $51.1 million from $49.4 million”
POWW Outdoor Holding Co

Outdoor Holding Co reported fourth fiscal quarter and year ended March 31, 2026 results: revenue $13.9 million.

“its financial results for its fourth fiscal quarter and year ended March 31, 2026. Fourth Quarter Fiscal 2026 vs. Fourth Quarter Fiscal 2025 - Revenue increased 10.1% to $13.9 million from $12.6 million - Gross profit rose to $12.2 million from $11.0 million - Gross profit margin increased slightly to 87.6% from 87.5% - Operating expenses decreased to $15.1”
HAWK HawkEye 360, Inc.

HawkEye 360, Inc. reported quarter ended March 31, 2026 results: revenue $49.8 million, net income $(9.0) million.

“HawkEye 360 Announces First Quarter 2026 Financial Results Record revenue of $49.8 million”
FRVO Fervo Energy Co

Fervo Energy Co reported the first quarter ended March 31, 2026 results: net income net loss of $31.8 million.

“Fervo Energy Company (“Fervo” or the “Company”) (NASDAQ: FRVO), a leading technology-enabled independent power producer of Enhanced Geothermal Systems (EGS), today reported financial and operational results for the first quarter ended March 31, 2026.”
SJT SAN JUAN BASIN ROYALTY TRUST

SAN JUAN BASIN ROYALTY TRUST reported April 2026 results: revenue $3,023,335.

“Hilcorp reported $3,023,335 of total revenue from the Subject Interests for the production month of April 2026, consisting of $2,646,258 of gas revenues, $377,077 of oil revenues.”
ETST Earth Science Tech, Inc.

Earth Science Tech, Inc. reported the full fiscal year ended March 31, 2026 results: revenue $35.7 million, net income $3.6 million.

“brought us to this point by growing responsibly and investing for the future.” For the fiscal year ended March 31, 2026, the Company reported the following results : ● Revenue: $35.7 million, up 8% compared to $33.1 million for the 12 months ended March 31, 2025. ● Gross profit: $25.5 million, up 5% compared to $24.3 million for the 12 months ended March 31, 2025.”
GRCE Grace Therapeutics, Inc.

Grace Therapeutics, Inc. reported the fiscal year ended March 31, 2026 results: net income net loss of $7.8 million, EPS $0.47 loss per share.

“The Company reported a net loss of $7.8 million, or $0.47 loss per share for the fiscal year ended March 31, 2026”
KR KROGER CO

KROGER CO reported first quarter 2026 results: EPS $1.46. Guidance reaffirmed.

“On June 18, 2026, The Kroger Co. (NYSE:KR) issued a press release announcing its first quarter 2026 results.”
IBATF INTERNATIONAL BATTERY METALS LTD.

INTERNATIONAL BATTERY METALS LTD. reported full year fiscal 2026, ended March 31, 2026 results: revenue $164 thousand, net income net income of $0.1 million, EPS $0.00 basic and diluted earnings per share.

“Full Year Financial Highlights (fiscal year 2026 versus fiscal year 2025) • Revenue: $164 thousand compared to $871 thousand, reflecting service revenue from brine testing activities in the current year compared to reimbursable revenue in the prior year. • Operating Costs (excluding depreciation): $2.1 million compared to $3.5 million. • Selling, General and Administrative Expenses (excluding depreciation): $8.5 million compared to $9.0 million. • Operating Income/Loss: loss of ($13.5) million compared to ($15.2) million. • Change in Fair Value of Warrant Liability: $16.5 million gain compared to a $13.2 million gain. • Net Income/(Loss) and Basic and Diluted Earnings Per Share (EPS): net income of $0.1 million, or $0.00 basic and diluted earnings per share, compared to a net loss of ($3.5) million, or $(0.01) basic and diluted earnings per share.”
IBATF INTERNATIONAL BATTERY METALS LTD.

INTERNATIONAL BATTERY METALS LTD. reported fourth quarter fiscal 2026, ended March 31, 2026 results: revenue $63 thousand, net income net loss ($5.3) million, EPS $(0.02) basic and diluted earnings per share.

“Fourth Quarter Financial Highlights (fiscal year 2026 versus fiscal year 2025) • Revenue: $63 thousand compared to a reversal of ($11) thousand, reflecting service revenue from brine testing activities. • Operating Costs (excluding depreciation): $0.5 million compared to $1.0 million . • Selling, General and Administrative Expenses (excluding depreciation): $2.2 million compared to $2.3 million. • Operating Income/Loss: loss of ($3.4) million compared to ($4.1) million. • Change in Fair Value of Warrant Liability: ($1.4) million loss compared to a $5.3 million gain. • Net Income/(Loss) and Basic and Diluted Earnings Per Share (EPS): net loss ($5.3) million, or $(0.02) basic and diluted earnings per share, compared to net income of $0.3 million, or $0.00 basic and diluted earnings per share. • Cash: $9.2 million as of March 31, 2026.”
ODTX Odyssey Therapeutics, Inc.

Odyssey Therapeutics, Inc. reported the three months ended March 31, 2026 results: net income $38.3 million.

“Net loss was $38.3 million for the quarter ended March 31, 2026, compared to a net loss of $38.4 million for the same period in 2025.”
INOD INNODATA INC

INNODATA INC updated its full-year 2026 guidance (reaffirmed).

“On June 17, 2026, Innodata Inc. (the “Company”) issued a press release reaffirming its full-year 2026 revenue growth guidance it provided on May 7, 2026, in its first quarter earnings release and conference call.”
SWBI SMITH & WESSON BRANDS, INC.

SMITH & WESSON BRANDS, INC. reported Full Year Fiscal 2026 results: revenue $523.8 million, net income $18.5 million, EPS $0.41 per diluted share.

“• Net sales were $523.8 million, an increase of $49.2 million, or 10.4%, over the prior fiscal year. • Gross margin was 26.9% compared with 26.8% in the prior fiscal year. • GAAP net income was $18.5 million, or $0.41 per diluted share, compared with $13.4 million, or $0.30 per diluted share, for the prior fiscal year.”
SWBI SMITH & WESSON BRANDS, INC.

SMITH & WESSON BRANDS, INC. reported Fourth Quarter Fiscal 2026 results: revenue $178.4 million, net income $16.2 million, EPS $0.36 per diluted share.

“• Net sales were $178.4 million, an increase of $37.6 million, or 26.7%, over the comparable quarter last year. • Gross margin was 29.8% compared with 28.8% in the comparable quarter last year. • GAAP net income was $16.2 million, or $0.36 per diluted share, compared with $8.6 million, or $0.19 per diluted share, for the comparable quarter last year.”
OM Outset Medical, Inc.

Outset Medical, Inc. updated its 2026 guidance (reaffirmed).

“The Company is reiterating previously issued guidance for 2026, and plans to provide additional detail regarding the 2026 financial impact of the Amendment later in the year once it has visibility to the timing and ramp of the implementation.”
JBL JABIL INC

JABIL INC reported third fiscal quarter ended May 31, 2026 results: revenue $8.8 billion, EPS U.S. GAAP diluted earnings per share: $2.59. Guidance raised.

“Jabil Inc. (NYSE: JBL), reported preliminary, unaudited financial results for its third quarter of fiscal year 2026. Third Quarter of Fiscal Year 2026 Highlights: • Net revenue: $8.8 billion • U.S. GAAP operating income: $445 million • U.S. GAAP diluted earnings per share: $2.59 • Core operating income (Non-GAAP): $504 million • Core diluted earnings per share”
KMX CARMAX INC

CARMAX INC reported first quarter ended May 31, 2026 results: revenue $8.0 billion, EPS $1.31.

“strategic framework with the objective of delivering strong unit and earnings growth that enables CarMax to consistently reward shareholders. • Net revenues rose 6.2% to $8.0 billion. • Combined retail and wholesale unit sales of 392,357, an increase of 3.3%. • Retail used unit sales increased slightly and comparable store used unit sales declined 0.8%; gross”
LZB LA-Z-BOY INC

LA-Z-BOY INC reported Fiscal 2026 results: revenue $2.1 billion, EPS $2.47. Guidance initiated.

“• Delivered consolidated sales of $2.1 billion, up 1% versus prior year • Retail segment written sales increased 8% and delivered sales increased 6% – Added 15 newly opened stores and acquired 15 independent La-Z-Boy stores (both the largest annual expansions in company history) • Wholesale segment delivered sales were flat while delivering adjusted (1) operating margin improvement • GAAP operating margin of 6.1% and adjusted (1) operating margin of 7.1% • GAAP diluted EPS of $2.47 and adjusted (1) diluted EPS of $3.04”
LZB LA-Z-BOY INC

LA-Z-BOY INC reported the fiscal quarter ended April 25, 2026 results: revenue $570 million, EPS $0.81. Guidance initiated.

“For the quarter, sales totaled $570 million, flat against the prior year comparable period. Operating margin improved to 7.2% for the quarter on a GAAP basis and 9.9% on an adjusted (1) basis. Diluted earnings per share totaled $0.81 on a GAAP basis and $1.26 on an adjusted (1) basis, both including a $0.16 impact from favorable discrete tax items.”
WLY JOHN WILEY & SONS, INC.

JOHN WILEY & SONS, INC. reported Fourth Quarter ended April 30, 2026 results: revenue $448 million, EPS $2.61.

“Q4 Financial Summary Please see accompanying financial tables for more detail on fourth quarter and full year results. • Q4 reported revenue of $448 million (+1% as reported, flat at constant currency, or CC) • Q4 Diluted EPS of $2.61 (+109%)”
WLY JOHN WILEY & SONS, INC.

JOHN WILEY & SONS, INC. reported Fiscal Year 2026 ended April 30, 2026 results: revenue $1,677 million, EPS $4.16.

“Operating Income of $277 million vs. $221 million (+25%); and Diluted Earnings Per Share (EPS) of $4.16 vs. $1.53 • Adjusted Results at constant currency : Adjusted Revenue of $1,677 million vs. $1,660 million (+1% or flat at constant currency) with Research growth offset by market-related softness in Learning; Adjusted Operating Income of $296 million up 18% with”
VNCE VINCE HOLDING CORP.

VINCE HOLDING CORP. updated its first quarter ended May 2, 2026 guidance (raised).

“On June 16, 2026, Vince Holding Corp. (the "Company") announced its financial results for its first fiscal quarter ended May 2, 2026.”
PBSV Pharma-Bio Serv, Inc.

Pharma-Bio Serv, Inc. reported the six months ended April 30, 2026 results: revenue approximately $5.0 million, net income approximately $0.3 million.

“revenues for the three and six months ended April 30, 2026 were approximately $2.7 million and $5.0 million, respectively, representing increases of approximately $0.3 million and $0.1 million compared to the same periods last year. Net income for the three and six months ended April 30, 2026 was approximately $0.2 million and $0.3 million, respectively, representing increases of approximately $0.1 million and $0.2 million compared to the same periods last year.”
PBSV Pharma-Bio Serv, Inc.

Pharma-Bio Serv, Inc. reported the quarter ended April 30, 2026 results: revenue approximately $2.7 million, net income approximately $0.2 million.

“revenues for the three and six months ended April 30, 2026 were approximately $2.7 million and $5.0 million, respectively, representing increases of approximately $0.3 million and $0.1 million compared to the same periods last year. Net income for the three and six months ended April 30, 2026 was approximately $0.2 million and $0.3 million, respectively, representing increases of approximately $0.1 million and $0.2 million compared to the same periods last year.”
VTGN Vistagen Therapeutics, Inc.

Vistagen Therapeutics, Inc. reported fiscal year ended March 31, 2026 results: net income $69.7 million.

“Net loss was $69.7 million for the fiscal year ended March 31, 2026, compared with $51.4 million for the fiscal year ended March 31, 2025.”
DOMO DOMO, INC.

DOMO, INC. reported fiscal first quarter ended April 30, 2026 results: revenue $79.4 million, net income $14.2 million, EPS $0.33.

“considering the available alternatives, the Board concluded that pursuing a strategic transaction is the best path forward.” 1 Fiscal First Quarter Results • Total revenue was $79.4 million • Subscription revenue was $69.8 million • Billings were $60.4 million • Subscription Remaining Performance Obligations (RPO) was $412.9 million as of April 30, 2026, an increase”
RFIL R F INDUSTRIES LTD

R F INDUSTRIES LTD reported the second quarter of fiscal year 2026 ended April 30, 2026 results: revenue $20.7 million, net income $879,000, EPS $0.08 per diluted share.

“today announced financial results for the second quarter of fiscal year 2026 ended April 30, 2026. Second Quarter Fiscal 2026 Highlights and Operating Results: ● Net sales were $20.7 million, a 9% increase from $18.9 million year-over-year and a 9% increase from $19.0 million in the first quarter of fiscal 2026. ● Backlog of $20 million at quarter-end on second”
PLAY Dave & Buster's Entertainment, Inc.

Dave & Buster's Entertainment, Inc. reported first quarter of fiscal 2026 ended May 5, 2026 results: revenue $559.2 million, net income $5.7 million, EPS $0.16 per diluted share.

“First Quarter 2026 Financial Summary • Revenue of $559.2 million decreased 1.5% from the first quarter of fiscal 2025. • Comparable store sales decreased 5.4% compared to the same calendar period in fiscal 2025. • Net income totaled $5.7 million, or $0.16 per diluted share, compared to net income of $21.7 million, or $0.62 per diluted share in the first quarter of fiscal 2025.”
PURE PURE BIOSCIENCE, INC.

PURE BIOSCIENCE, INC. reported the nine months ended April 30, 2026 results: revenue $1,656,000, net income $1,873,000, EPS ($0.02).

“per share was ($0.01) for the fiscal third quarters ended April 30, 2026 and 2025, respectively. Summary of Results of Operations – Prior Nine Months ● Net product sales were $1,656,000 and $1,435,000 for the nine months ended April 30, 2026 and 2025, respectively. The $221,000 increase was attributable to higher sales across our end-user network. ● Net loss”
PURE PURE BIOSCIENCE, INC.

PURE BIOSCIENCE, INC. reported the fiscal third quarter ended April 30, 2026 results: revenue $506,000, net income $624,000, EPS ($0.01).

“) antimicrobial, today reported financial results for the fiscal third quarter ended April 30, 2026. Summary of Results of Operations – Third Quarter ● Net product sales were $506,000 and $489,000 for the fiscal third quarters ended April 30, 2026 and 2025, respectively. The $17,000 increase was attributable to higher sales across our distribution network. ●”
JRSH Jerash Holdings (US), Inc.

Jerash Holdings (US), Inc. updated its Fiscal 2027 first quarter guidance (initiated).

“Outlook ● Revenue for the fiscal 2027 first quarter is expected to increase by 20 to 22 percent over $39.6 million in the prior fiscal year’s first quarter. ● Gross margin for the fiscal 2027 first quarter is anticipated to be approximately 15 to 17 percent, with increased emphasis on customer diversification and reduced seasonality.”
JRSH Jerash Holdings (US), Inc.

Jerash Holdings (US), Inc. reported Fiscal 2026 full year ended March 31, 2026 results: revenue $166.3 million, net income $3.6 million, EPS $0.27 per diluted share.

“Revenue for the full 2026 fiscal year increased by 14.0 percent to a record high $166.3 million, from $145.8 million in fiscal 2025. Gross profit for fiscal 2026 rose 20.0 percent to $26.8 million, from $22.3 million in the prior fiscal year. Gross margin for fiscal 2026 improved to 16.1 percent from 15.3 percent in fiscal 2025. Total operating expenses for fiscal 2026 were $20.5 million, compared with $20.9 million in fiscal 2025. Operating income more than quadrupled to $6.3 million for the full 2026 fiscal year, from $1.4 million in the last fiscal year. Total other expenses in fiscal 2026 were $1.6 million, compared with $1.3 million in fiscal 2025. Income tax expenses were $1.1 million for fiscal 2026, compared with $991,000 for fiscal 2025. Net income for fiscal 2026 improved by $4.5 million to $3.6 million, or $0.27 per diluted share, from a net loss of approximately $840,000, or $0.07 per share, in fiscal 2025.”
JRSH Jerash Holdings (US), Inc.

Jerash Holdings (US), Inc. reported Fiscal 2026 fourth quarter ended March 31, 2026 results: revenue $42.9 million, net income $1.7 million, EPS $0.12 per diluted share.

“Fiscal 2026 fourth quarter revenue rose by 46.6 percent to $42.9 million, from $29.3 million in the same quarter last year, primarily reflecting increased export shipments to the Company’s long-standing key customers, as well as orders from newer customers, including Hansoll Group in South Korea, and others developed in recent years. Gross profit increased 40.4 percent to $7.4 million for the fiscal 2026 fourth quarter, from $5.2 million in the same quarter last year. Gross profit margin for the quarter was 17.1 percent, compared with 17.9 percent in the same period last year. Operating expenses totaled $5.0 million in the fiscal 2026 fourth quarter, compared with $4.8 million in the same quarter last year. As a percentage of revenue, total operating expenses decreased by almost 5 percentage points to 11.7 percent, from 16.4 percent in the fiscal 2025 fourth quarter. The lower expenses principally reflected improved control over export logistics costs and lower stock-based compensation”
GENC GENCOR INDUSTRIES INC

GENCOR INDUSTRIES INC reported the six months ended March 31, 2026 results: revenue $57,376,000, net income $7,285,000, EPS $0.50.

“For the six months ended March 31, 2026 the Company had net revenue of $57,376,000 and net income of $7,285,000, or $0.50 per basic and diluted common share, compared to net revenue of $69,620,000 and net income of $9,912,000 or $0.68 per basic and diluted common share for the six months ended March 31, 2025.”
GENC GENCOR INDUSTRIES INC

GENCOR INDUSTRIES INC reported the quarter ended March 31, 2026 results: revenue $33,799,000, net income $3,843,000, EPS $0.26.

“GENCOR INDUSTRIES, INC. Condensed Consolidated Income Statements (Unaudited) For the Quarters Ended March 31, For the Six Months Ended March 31, 2026 2025 2026 2025 Net revenue $ 33,799,000 $ 38,204,000 $ 57,376,000 $ 69,620,000 Cost of goods sold 23,091,000 26,851,000 39,913,000 49,599,000 Gross profit 10,708,000 11,353,000 17,463,000 20,021,000 Operating expenses: Product engineering and development 629,000 681,000 1,387,000 1,357,000 Selling, general and administrative 5,843,000 4,192,000 8,739,000 7,560,000 Total operating expenses 6,472,000 4,873,000 10,126,000 8,917,000 Operating income 4,236,000 6,480,000 7,337,000 11,104,000 Other income (expense), net: Interest and dividend income, net of fees 1,111,000 1,158,000 2,288,000 2,147,000 Net realized and unrealized gains (losses) on marketable securities (174,000 ) 598,000 199,000 143,000 Total other income, net 937,000 1,756,000 2,487,000 2,290,000 Income before income tax expense 5,173,000 8,236,000 9,824,000 13,394,000 Income ta”
NOBH NOBILITY HOMES INC

NOBILITY HOMES INC reported second quarter ended May 2, 2026 results: revenue $12.4 million, net income $1.8 million, EPS $0.56 per share.

“FL...June 12, 2026 - Today Nobility Homes, Inc. (OTCQX: NOBH) announced sales and earnings for its second quarter ended May 2, 2026. Sales for the second quarter of 2026 were $12.4 million compared to $14.8 million recorded in the second quarter of 2025. Income from operations for the second quarter of 2026 was $2.1 million versus $2.7 million in the same period a”
ENGN enGene Therapeutics Inc.

enGene Therapeutics Inc. reported financial results for the second quarter ended April 30, 2026.

“enGene Therapeutics Inc. (the “Company”) announced its financial results for the three months ended April 30, 2026”
CMTL COMTECH TELECOMMUNICATIONS CORP /DE/

COMTECH TELECOMMUNICATIONS CORP /DE/ reported third quarter ended April 30, 2026 results: revenue $106.0 million, net income net loss attributable to common shareholders of $14.3 million.

“and passion that is driving these significant achievements. I am so proud of this team and what we are accomplishing together.” Consolidated Financial Results • Net sales of $106.0 million • Gross profit of 34.0% • Operating loss of $3.1 million and net loss attributable to common shareholders of $14.3 million • Adjusted EBITDA (a Non-GAAP financial measure) of”
CGC Canopy Growth Corp

Canopy Growth Corp reported the fiscal year ended March 31, 2026 results: revenue $284.6M.

“Consolidated net revenue in FY2026 was $284.6M, an increase of 6% compared to the fiscal year ended March 31, 2025 (" FY2025").”
CGC Canopy Growth Corp

Canopy Growth Corp reported the fiscal fourth quarter ended March 31, 2026 results: revenue $71.2M.

“Consolidated net revenue of $71.2M in Q4 FY2026 increased 10% over the same period in the prior year.”
AIOT Powerfleet, Inc.

Powerfleet, Inc. reported fiscal year ended March 31, 2026 results: revenue $443.8 million, net income $20.6 million, EPS $(0.15).

“● Revenue increased 22% to $443.8 million, at the top of the guidance range ● Services revenue increased 30% to $359.8 million ● Gross margin increased 180 basis points to 55.5% ● Net loss improved 60% to $20.6 million, or $(0.15) per share, compared to $(0.43)”

Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.