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Malique Ewin finished with team highs of 17 points and seven rebounds to lead the Florida State Seminoles to a 92-59 victory over the Massachusetts Minutemen in each team's final game of the Naismith Hall of Fame Tip-Off on Sunday afternoon in Uncasville, Conn. The Seminoles (6-1) won their third consecutive game and went 2-0 in the event as they pulled away in the second half, leading by as many as 36 points. It's Florida State's best start since the 2019-20 season when it went 7-1. UMass (1-5) dropped its fifth in a row following a season-opening win over New Hampshire despite a strong game on Sunday from Jaylen Curry, who scored 17 points. Curry, with six free throws, helped propel the Minutemen on a 10-0 run over a four-plus minute span in the first half to take a 24-23 lead with 4:22 left. FSU closed the half on a 13-3 run to lead 37-27 at halftime. A 15-4 surge to open the second half helped the Seminoles break the game open. Florida State's defense frustrated UMass shooters throughout the contest, especially on the perimeter, limiting the Minutemen to 3-for-24 shooting (12.5 percent) from 3-point range and 18-for-58 (31 percent) overall. The Seminoles finished with 22 points off 17 UMass turnovers. On the flipside, Florida State had one of its best shooting games of the season. The Seminoles moved the ball well throughout the game and finished with 25 assists while only turning the ball over 10 times. The Seminoles shot 33 for 58 (57 percent) from the field and made 9 of 18 three-pointers to put together a season-high scoring output. Once again, Florida State shined thanks to its depth as 10 players scored and four scored in double figures. The Seminoles were able to have 16 players participate in the game as well. Jamir Watkins finished with 14 points while Jerry Deng and Justin Thomas each had 10 points. For UMass, Daniel Rivera finished with 12 points and six rebounds while Nate Guerengomba had 10 points. Daniel Hankins-Sanford collected a game-high 13 rebounds. --Field Level Media
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TORONTO, Dec. 04, 2024 (GLOBE NEWSWIRE) — Trexo Robotics is proud to announce this groundbreaking milestone. This remarkable achievement is not only a testament to the power of innovation, but also to the determination and resilience of the children and families who have made it possible. The Trexo Robotics team, led by co-founders Manmeet Maggu, CEO and Rahul Udasi, CTO, are overjoyed by this accomplishment. “The 100 million steps milestone was not something I thought about as a goal, we wanted kids to take as many steps as they could. It’s amazing, each kid starting with one step and going after their own goals, has added up to an unbelievable number,” says Udasi. “For many of these kiddos, they were told they would never take a step. Every single one of these 100 million steps tells a different story—one of courage, progress, and hope,” says Maggu. “This milestone is made up of countless special moments, each representing improved strength, better health, and brighter possibilities.” Trexo is hosting a celebration to mark this incredible accomplishment on Friday, December 6 in Toronto. The celebration will honour the parents and community members who have been instrumental in this journey and, most importantly, the children themselves, who inspire everyone with their perseverance. Thinking about what the future may bring–500 million steps, which is the equivalent of walking to the moon–and one billion steps are on the minds of the Trexo team. “These numbers are mind boggling, and exciting because of what they mean for the kiddos. For now though, this moment is a time to pause, reflect, and celebrate,” says Jenn Horowitz, Head of Marketing at Trexo. The celebration will include Trexo robotic legs walking on their own, heartfelt speeches, a special surprise from one of the Trexo users, Alex Mertens, dancing, and for many, the opportunity to meet the team behind the innovation for the first time. Media representatives are welcome to attend to capture this inspiring achievement. Trexo Robotics extends heartfelt thanks to the parents, supporters, and especially the children, whose steps have turned what was a personal quest to help Maggu’s nephew, into something bigger than they ever imagined. Trexo Robotics is a leader in mobility solutions, empowering children with disabilities to take their first steps in many cases. With a mission to redefine what’s possible, Trexo Robotics combines cutting-edge technology with unwavering dedication to create life-changing moments for families that are searching for solutions for their children. Friday, December 6, 2024 6pm – 9pm Contact: Jennifer Horowitz, Head of Marketing Phone: 562-784-7711 jh@trexorobotics.com A video accompanying this announcement is available atQ3 Net Sales Increase of 14.6% to $843.7 million ; Comparable Sales Increase of 0.6% Q3 GAAP Diluted EPS of $0.03 , Q3 Adjusted Diluted EPS of $0.42 Increases Full Year 2024 Guidance PHILADELPHIA, PA, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Five Below, Inc. FIVE today announced financial results for the third quarter and year to date period ended November 2, 2024. For the third quarter ended November 2, 2024 : Net sales increased by 14.6% to $843.7 million from $736.4 million in the third quarter of fiscal 2023; comparable sales increased by 0.6%. The Company opened 82 new stores and ended the quarter with 1,749 stores in 44 states. This represents an increase in stores of 18.1% from the end of the third quarter of fiscal 2023. Operating loss was $0.6 million compared to operating income of $16.1 million in the third quarter of fiscal 2023. Adjusted operating income (1) was $27.6 million. The effective tax rate was 23.4% compared to 25.4% in the third quarter of fiscal 2023. Net income was $1.7 million compared to $14.6 million in the third quarter of fiscal 2023. Adjusted net income (1) was $23.3 million. Diluted income per common share was $0.03 compared to $0.26 in the third quarter of fiscal 2023. Adjusted diluted income per common share (1) was $0.42. (1) A reconciliation of adjusted operating income, adjusted net income, and adjusted diluted income per common share to the most directly comparable financial measure presented in accordance with accounting principles generally accepted in the United States ("GAAP") is set forth in the schedule accompanying this release. See als o "Non-GAAP Information." Ken Bull, Interim CEO and COO of Five Below said, "We are pleased to report third quarter results that exceeded our outlook. We delivered stronger performance across a broader group of our merchandise worlds compared to the second quarter and improved our operational execution. We were encouraged to see the positive results from the initiatives we undertook to add newness and deliver value in key categories. We opened a record 82 new stores during this period with new store performance also surpassing our expectations. Our merchant and operational teams across the organization are focused on our key priorities of product, value and store experience, and I want to thank them for their efforts in delivering these results." Mr. Bull continued, "We will build on this progress and are focused on delivering for our customers in the all-important fourth quarter. Our solid Black Friday weekend results were an encouraging start to the holiday season, though the highest volume selling days lie ahead. In addition, this year we have five fewer shopping days between Thanksgiving and Christmas, which is reflected in our outlook." For the year to date period ended November 2, 2024 : Net sales increased by 11.9% to $2.49 billion from $2.22 billion in the year to date period of fiscal 2023; comparable sales decreased by 2.6%. The Company opened 205 new stores compared to 141 new stores in the year to date period of fiscal 2023. Operating income was $77.1 million compared to $117.1 million in the year to date period of fiscal 2023. Adjusted operating income (2) was $102.8 million. The effective tax rate was 24.7% compared to 23.1% in the year to date period of fiscal 2023. Net income was $66.2 million compared to $98.9 million in the year to date period of fiscal 2023. Adjusted net income (2) was $85.5 million. Diluted income per common share was $1.20 compared to $1.78 in the year to date period of fiscal 2023. The benefit from share-based accounting was approximately $0.01 in the year to date period of fiscal 2024 compared to approximately $0.07 in the year to date period of fiscal 2023. Adjusted diluted income per common share (2) was $1.55. The Company repurchased approximately 267,000 shares in the year to date period of fiscal 2024 at a cost of approximately $40.0 million (2) A reconciliation of adjusted operating income, adjusted net income, and adjusted diluted income per common share to the most directly comparable financial measure presented in accordance with accounting principles generally accepted in the United States ("GAAP") is set forth in the schedule accompanying this release. See also "Non-GAAP Information." Appointment of Chief Executive Officer Five Below also announced today the appointment of Winnie Park to the role of Chief Executive Officer, effective December 16, 2024. Ken Bull, Chief Operating Officer, who was serving as Interim CEO, will continue in his role as COO, and Tom Vellios will remain Executive Chairman. This announcement was made concurrently this afternoon and can be found at investor.fivebelow.com/investors. Fourth Quarter and Fiscal 2024 Outlook: The Company expects the following results for the fourth quarter and full year fiscal 2024: For the fourth quarter of Fiscal 2024 : Net sales are expected to be in the range of $1.35 billion to $1.38 billion based on opening approximately 22 net new stores and assumes an approximate 3% to 5% decrease in comparable sales. Net income is expected to be in the range of $174 million to $184 million. Adjusted net income (3) is expected to be in the range of $179 million to $189 million. Diluted income per common share is expected to be in the range of $3.15 to $3.33 on approximately 55.3 million diluted weighted average shares outstanding. Adjusted diluted income per common share (3) is expected to be in the range of $3.23 to $3.41. (3) Adjusted net income and adjusted diluted income per common share exclude the impact of nonrecurring or non-cash items which includes retention awards, costs associated w it h cost -optimization initiatives and stock compensation benefits , net of income tax impacts. For the full year of Fiscal 2024 : Net sales are expected to be in the range of $3.84 billion to $3.87 billion based on opening approximately 227 net new stores and assumes an approximate 3% decrease in comparable sales. Net income is expected to be in the range of $240 million to $250 million. Adjusted net income (4) is expected to be in the range of $265 million to $275 million. Diluted income per common share is expected to be in the range of $4.34 to $4.52 on approximately 55.3 million diluted weighted average shares outstanding. Adjusted diluted income per common share (4) is expected to be in the range of $4.78 to $4.96. Gross capital expenditures are expected to be approximately $340 million in fiscal 2024. (4) Adjusted net income and adjusted diluted income per common share exclude the impact of nonrecurring or non-cash items which includes inventory write- off , ret ention awards , stock compensation benefits, costs associated with cost-optimization initiatives , settlement of employment-related litigation , and asset disposal, net of income tax impacts. Conference Call Information: A conference call to discuss the financial results for the third quarter of fiscal 2024 is scheduled for today, December 4, 2024, at 4:30 p.m. Eastern Time. A live audio webcast of the conference call will be available online at investor.fivebelow.com, where a replay will be available shortly after the conclusion of the call. Investors and analysts interested in participating in the call are invited to dial 412-902-6753 approximately 10 minutes prior to the start of the call. Non-GAAP Information: This press release includes adjusted operating income, adjusted net income, and adjusted diluted income per common share, each is a non-GAAP financial measure. The Company has reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures within this filing. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company's business and facilitate a meaningful evaluation of its quarterly and fiscal year 2024 diluted income per common share and actual results on a comparable basis with its quarterly and fiscal year 2023 results. In evaluating these non-GAAP financial measures, investors should be aware that in the future the Company may incur expenses that are the same as or similar to some of the adjustments in this filing. The Company's presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by any such adjustments. The Company has provided this information as a means to evaluate the results of its ongoing operations. Other companies in the Company's industry may calculate these items differently than it does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect management's current views and estimates regarding the Company's industry, business strategy, goals and expectations concerning its market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, store count potential and other financial and operating information. Investors can identify these statements by the fact that they use words such as "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future" and similar terms and phrases. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to risks related to disruption to the global supply chain, risks related to the Company's strategy and expansion plans, risks related to our ability to attract, retain, and integrate qualified executive talent, risks related to disruptions in our information technology systems and our ability to maintain and upgrade those systems, risks related to the inability to successfully implement our online retail operations, risks related to cyberattacks or other cyber incidents, risks related to increased usage of machine learning and other types of artificial intelligence in our business, and challenges with properly managing its use; risks related to our ability to select, obtain, distribute and market merchandise profitably, risks related to our reliance on merchandise manufactured outside of the United States, the availability of suitable new store locations and the dependence on the volume of traffic to our stores, risks related to changes in consumer preferences and economic conditions, risks related to increased operating costs, including wage rates, risks related to inflation and increasing commodity prices, risks related to potential systematic failure of the banking system in the United States or globally, risks related to extreme weather, pandemic outbreaks, global political events, war, terrorism or civil unrest (including any resulting store closures, damage, or loss of inventory), risks related to leasing, owning or building distribution centers, risks related to our ability to successfully manage inventory balance and inventory shrinkage, quality or safety concerns about the Company's merchandise, increased competition from other retailers including online retailers, risks related to the seasonality of our business, risks related to our ability to protect our brand name and other intellectual property, risks related to customers' payment methods, risks related to domestic and foreign trade restrictions including duties and tariffs affecting our domestic and foreign suppliers and increasing our costs, including, among others, the direct and indirect impact of current and potential tariffs imposed and proposed by the United States on foreign imports, risks associated with the restrictions imposed by our indebtedness on our current and future operations, the impact of changes in tax legislation and accounting standards and risks associated with leasing substantial amounts of space. For further details and a discussion of these risks and uncertainties, see the Company's periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov . If one or more of these risks or uncertainties materialize, or if any of the Company's assumptions prove incorrect, the Company's actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this news release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. About Five Below: Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by teens and pre-teens. We believe life is better when customers are free to "let go & have fun" in an amazing experience filled with unlimited possibilities. With most items priced between $1 and $5, and some extreme value items priced beyond $5 in our incredible Five Beyond shop, Five Below makes it easy to say YES! to the newest, coolest stuff across eight awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy and New & Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has over 1,750 stores in 44 states. For more information, please visit www.fivebelow.com or find Five Below on Instagram, TikTok, and Facebook @FiveBelow. Investor Contact: Five Below, Inc. Christiane Pelz Vice President, Investor Relations 215-207-2658 InvestorRelations@fivebelow.com FIVE BELOW, INC. Consolidated Balance Sheets (Unaudited) (in thousands) November 2, 2024 February 3, 2024 October 28, 2023 Assets Current assets: Cash and cash equivalents $ 169,702 $ 179,749 $ 162,928 Short-term investment securities 46,941 280,339 — Inventories 817,832 584,627 763,349 Prepaid income taxes and tax receivable 20,348 4,834 23,906 Prepaid expenses and other current assets 157,396 153,993 140,816 Total current assets 1,212,219 1,203,542 1,090,999 Property and equipment, net 1,259,768 1,134,312 1,075,275 Operating lease assets 1,692,978 1,509,416 1,475,095 Long-term investment securities — 7,791 — Other assets 20,354 16,976 16,069 $ 4,185,319 $ 3,872,037 $ 3,657,438 Liabilities and Shareholders' Equity Current liabilities: Line of credit $ — $ — $ — Accounts payable 352,180 256,275 349,340 Income taxes payable — 41,772 — Accrued salaries and wages 28,758 30,028 19,357 Other accrued expenses 143,388 146,887 158,272 Operating lease liabilities 351,062 240,964 231,197 Total current liabilities 875,388 715,926 758,166 Other long-term liabilities 8,962 6,826 4,625 Long-term operating lease liabilities 1,616,964 1,497,586 1,455,358 Deferred income taxes 68,153 66,743 61,364 Total liabilities 2,569,467 2,287,081 2,279,513 Shareholders' equity: Common stock 549 551 551 Additional paid-in capital 147,453 182,709 177,877 Retained earnings 1,467,850 1,401,696 1,199,497 Total shareholders' equity 1,615,852 1,584,956 1,377,925 $ 4,185,319 $ 3,872,037 $ 3,657,438 FIVE BELOW, INC. Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share data) Thirteen Weeks Ended Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net sales $ 843,710 $ 736,405 $ 2,485,642 $ 2,221,633 Cost of goods sold (exclusive of items shown separately below) 585,668 513,577 1,692,294 1,499,422 Selling, general and administrative expenses 215,367 173,121 594,362 511,430 Depreciation and amortization 43,281 33,584 121,933 93,652 Operating (loss) income (606 ) 16,123 77,053 117,129 Interest income and other income 2,808 3,434 10,852 11,423 Income before income taxes 2,202 19,557 87,905 128,552 Income tax expense 515 4,963 21,751 29,645 Net income $ 1,687 $ 14,594 $ 66,154 $ 98,907 Basic income per common share $ 0.03 $ 0.26 $ 1.20 $ 1.78 Diluted income per common share $ 0.03 $ 0.26 $ 1.20 $ 1.78 Weighted average shares outstanding: Basic shares 55,007,054 55,452,533 55,067,467 55,592,536 Diluted shares 55,110,433 55,576,140 55,152,976 55,717,987 FIVE BELOW, INC. Consolidated Statements of Cash Flows (Unaudited) (in thousands) Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 Operating activities: Net income $ 66,154 $ 98,907 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 121,933 93,652 Share-based compensation expense 11,303 13,366 Deferred income tax expense 1,410 2,213 Other non-cash expenses 861 172 Changes in operating assets and liabilities: Inventories (233,205 ) (235,629 ) Prepaid income taxes and tax receivable (15,514 ) (15,008 ) Prepaid expenses and other assets (6,889 ) (12,530 ) Accounts payable 96,900 123,374 Income taxes payable (41,772 ) (19,928 ) Accrued salaries and wages (1,270 ) (6,063 ) Operating leases 45,914 33,841 Other accrued expenses 21,288 15,521 Net cash provided by operating activities 67,113 91,888 Investing activities: Purchases of investment securities and other investments (4,508 ) (128,950 ) Sales, maturities, and redemptions of investment securities 245,696 195,795 Capital expenditures (271,855 ) (231,921 ) Net cash used in investing activities (30,667 ) (165,076 ) Financing activities: Net proceeds from issuance of common stock 600 440 Repurchase and retirement of common stock (40,226 ) (80,541 ) Proceeds from exercise of options to purchase common stock and vesting of restricted and performance-based restricted stock units 1 288 Common shares withheld for taxes (6,868 ) (16,395 ) Net cash used in financing activities (46,493 ) (96,208 ) Net decrease in cash and cash equivalents (10,047 ) (169,396 ) Cash and cash equivalents at beginning of period 179,749 332,324 Cash and cash equivalents at end of period $ 169,702 $ 162,928 FIVE BELOW, INC. GAAP to Non-GAAP Reconciliation of Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share data) Reconciliation of gross profit as reported, to adjusted gross profit Thirteen Weeks Ended Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Gross profit, as reported (5) $ 258,042 $ 222,828 $ 793,348 $ 722,211 Adjustments: Retention awards ( 6 ) 444 — 597 — Non-recurring inventory write-off 21,208 — 21,208 — Cost-optimization initiatives ( 7 ) 378 — 378 — Adjusted gross profit ( 8 ) $ 280,072 $ 222,828 $ 815,531 $ 722,211 Reconciliation of operating (loss) income, as reported, to adjusted operating income Thirteen Weeks Ended Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Operating (loss) income, as reported $ (606 ) $ 16,123 $ 77,053 $ 117,129 Adjustments: Non-recurring employment-related litigation — — 1,976 — Retention awards ( 6 ) 4,931 — 6,578 — Non-recurring stock compensation benefit — — (6,116 ) — Non-recurring inventory write-off 21,208 — 21,208 — Cost-optimization initiatives ( 7 ) 1,544 — 1,544 — Non-recurring asset disposal 513 — 513 — Adjusted operating income ( 8 ) $ 27,590 $ 16,123 $ 102,756 $ 117,129 Reconciliation of net income, as reported, to adjusted net income Thirteen Weeks Ended Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Net income, as reported $ 1,687 $ 14,594 $ 66,154 $ 98,907 Adjustments: Non-recurring employment-related litigation, net of tax — — 1,487 — Retention awards, net of tax ( 6 ) 3,778 — 4,950 — Non-recurring stock compensation benefit, net of tax — — (4,603 ) — Non-recurring inventory write-off, net of tax 16,248 — 15,961 — Cost-optimization initiatives, net of tax ( 7 ) 1,183 — 1,162 — Non-recurring asset disposal, net of tax 393 — 386 — Adjusted net income ( 8 ) $ 23,289 $ 14,594 $ 85,497 $ 98,907 Reconciliation of diluted income per common share, as reported, to adjusted diluted income per common share Thirteen Weeks Ended Thirty-Nine Weeks Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 Diluted income per common share, as reported $ 0.03 $ 0.26 $ 1.20 $ 1.78 Adjustments: Non-recurring employment-related litigation per share — — 0.03 — Retention awards per share ( 6 ) 0.07 — 0.09 — Non-recurring stock compensation benefit per share — — (0.08 ) — Non-recurring inventory write-off per share 0.29 — 0.29 — Cost-optimization initiatives per share ( 7 ) 0.02 — 0.02 — Non-recurring asset disposal per share 0.01 — 0.01 — Adjusted diluted income per common share ( 8 ) $ 0.42 $ 0.26 $ 1.55 $ 1.78 (5) Gross profit is equal to our net sales less our cost of goods sold . ( 6 ) Retention awards relate to the on-going expense recognition of cash and equity granted to certain individuals in fiscal 2024 during the CEO transition that will be earned and have vestings through fiscal 2026. ( 7 ) Represents c harges relate d to the cos t-optimization of certain functions . ( 8 ) Components may not add to total due to rounding. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
TOMS RIVER, N.J. (AP) — A U.S. senator has called for mysterious drones spotted flying at night over sensitive areas in New Jersey and other parts of the Mid-Atlantic region to be “shot down, if necessary,” even as it remains unclear who owns the unmanned aircraft. “We should be doing some very urgent intelligence analysis and take them out of the skies, especially if they’re flying over airports or military bases,” Sen. Richard Blumenthal of Connecticut said Thursday, as concerns about the drones spread across Capitol Hill. People in the New York region are also concerned that the drones may be sharing airspace with commercial airlines, he said, demanding more transparency from the Biden administration. The White House said Thursday that a review of the reported sightings shows that many of them are actually manned aircraft being flown lawfully. White House National Security spokesman John Kirby said there were no reported sightings in any restricted airspace. He said the U.S. Coast Guard has not uncovered any foreign involvement from coastal vessels. “We have no evidence at this time that the reported drone sightings pose a national security or a public safety threat, or have a foreign nexus,” Kirby said, echoing statements from the Pentagon and New Jersey Gov. Phil Murphy. Pentagon spokesperson Sabrina Singh has said they are not U.S. military drones. In a joint statement issued Thursday afternoon, the FBI and the Department of Homeland Security said they and their federal partners, in close coordination with the New Jersey State Police, “continue to deploy personnel and technology to investigate this situation and confirm whether the reported drone flights are actually drones or are instead manned aircraft or otherwise inaccurate sightings.” The agencies said they have not corroborated any of the reported sightings with electronic detection, and that reviews of available images appear to show many of the reported drones are actually manned aircraft. “There are no reported or confirmed drone sightings in any restricted air space,” according to the statement. The drones appear to avoid detection by traditional methods such as helicopter and radio, according to a state lawmaker briefed Wednesday by the Department of Homeland Security. The number of sightings has increased in recent days, though officials say many of the objects seen may have been planes rather than drones. It’s also possible that a single drone has been reported more than once. The worry stems partly from the flying objects initially being spotted near the Picatinny Arsenal, a U.S. military research and manufacturing facility, and over President-elect Donald Trump’s golf course in Bedminster. In a post on the social media platform X, Assemblywoman Dawn Fantasia described the drones as up to 6 feet (1.8 meters) in diameter and sometimes traveling with their lights switched off. Drones are legal in New Jersey for recreational and commercial use but are subject to local and Federal Aviation Administration regulations and flight restrictions. Operators must be FAA certified. Most, but not all, of the drones spotted in New Jersey appeared to be larger than those typically used by hobbyists. Sen. Cory Booker of New Jersey said he was frustrated by the lack of transparency, saying it could help spread fear and misinformation. “We should know what’s going on over our skies,” he said Thursday. John Duesler, president of the Pennsylvania Drone Association, said witnesses may be confused about what they are seeing, especially in the dark, and noted it’s hard to know the size of the drones or how close they might be. “There are certainly big drones, such as agricultural drones, but typically they are not the type you see flying around in urban or suburban spaces,” Duesler said Thursday. Duesler said the drones — and those flying them — likely cannot evade detection. “They will leave a radio frequency footprint, they all leave a signature," he said. "We will find out what kind of drones they were, who was flying them and where they were flying them.” Fantasia, a Morris County Republican, was among several lawmakers who met with state police and Homeland Security officials to discuss the sightings from the New York City area across New Jersey and westward into parts of Pennsylvania, including over Philadelphia. It is unknown at this time whether the sightings are related. Duesler said the public wants to know what's going on. “I hope (the government agencies) will come out with more information about this to ease our fears. But this could just be the acts of rogue drone operators, it’s not an ‘invasion’ as some reports have called it,” Duesler said. “I am concerned about this it but not alarmed by it.” Associated Press reporters Mark Scolforo in Harrisburg, Pennsylvania; and reporter Darlene Superville and videojournalists Serkan Gurbuz and Nathan Ellgren in Washington, D.C., contributed to this report.
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