Duyuru • Jun 04
Forval Telecom,Inc. to Report Q1, 2027 Results on Aug 10, 2026 Forval Telecom,Inc. announced that they will report Q1, 2027 results on Aug 10, 2026 New Risk • May 20
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 110% Dividend yield: 4.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). Minor Risks Dividend is not well covered by cash flows (110% cash payout ratio). Market cap is less than US$100m (JP¥9.42b market cap, or US$59.2m). Reported Earnings • May 20
Full year 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2026 results: EPS: JP¥58.79 (up from JP¥43.69 in FY 2025). Revenue: JP¥24.0b (down 6.7% from FY 2025). Net income: JP¥985.0m (up 35% from FY 2025). Profit margin: 4.1% (up from 2.9% in FY 2025). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) exceeded analyst estimates by 7.1%. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 18% per year. Duyuru • May 15
Forval Telecom,Inc., Annual General Meeting, Jun 25, 2026 Forval Telecom,Inc., Annual General Meeting, Jun 25, 2026. Duyuru • May 10
Forval Telecom,Inc. to Report Fiscal Year 2026 Results on May 15, 2026 Forval Telecom,Inc. announced that they will report fiscal year 2026 results on May 15, 2026 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥13.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 05 June 2026. Payout ratio is a comfortable 39% and the cash payout ratio is 76%. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.2%). Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: JP¥11.04 (vs JP¥9.97 in 3Q 2025) Third quarter 2026 results: EPS: JP¥11.04 (up from JP¥9.97 in 3Q 2025). Revenue: JP¥5.79b (down 7.1% from 3Q 2025). Net income: JP¥185.0m (up 11% from 3Q 2025). Profit margin: 3.2% (up from 2.7% in 3Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Duyuru • Dec 02
Forval Telecom,Inc. to Report Q3, 2026 Results on Feb 10, 2026 Forval Telecom,Inc. announced that they will report Q3, 2026 results on Feb 10, 2026 Reported Earnings • Nov 15
Second quarter 2026 earnings released: EPS: JP¥17.67 (vs JP¥16.89 in 2Q 2025) Second quarter 2026 results: EPS: JP¥17.67 (up from JP¥16.89 in 2Q 2025). Revenue: JP¥6.51b (down 8.0% from 2Q 2025). Net income: JP¥296.0m (up 4.6% from 2Q 2025). Profit margin: 4.5% (up from 4.0% in 2Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 10 December 2025. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 4.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 10
First quarter 2026 earnings released: EPS: JP¥14.74 (vs JP¥4.36 in 1Q 2025) First quarter 2026 results: EPS: JP¥14.74 (up from JP¥4.36 in 1Q 2025). Revenue: JP¥5.32b (down 5.1% from 1Q 2025). Net income: JP¥247.0m (up 238% from 1Q 2025). Profit margin: 4.6% (up from 1.3% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Duyuru • Jul 31
Forval Telecom,Inc. to Report Q2, 2026 Results on Nov 12, 2025 Forval Telecom,Inc. announced that they will report Q2, 2026 results on Nov 12, 2025 Reported Earnings • Jun 20
Full year 2025 earnings released: EPS: JP¥43.69 (vs JP¥44.76 in FY 2024) Full year 2025 results: EPS: JP¥43.69 (down from JP¥44.76 in FY 2024). Revenue: JP¥25.7b (up 11% from FY 2024). Net income: JP¥732.0m (down 2.4% from FY 2024). Profit margin: 2.9% (down from 3.2% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 14% per year. Reported Earnings • May 17
Full year 2025 earnings released: EPS: JP¥43.69 (vs JP¥44.76 in FY 2024) Full year 2025 results: EPS: JP¥43.69 (down from JP¥44.76 in FY 2024). Revenue: JP¥25.7b (up 11% from FY 2024). Net income: JP¥732.0m (down 2.4% from FY 2024). Profit margin: 2.9% (down from 3.2% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 11% per year. Duyuru • May 13
Forval Telecom,Inc., Annual General Meeting, Jun 19, 2025 Forval Telecom,Inc., Annual General Meeting, Jun 19, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 06 June 2025. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.3%). Duyuru • Mar 04
Forval Telecom,Inc. to Report Fiscal Year 2025 Results on May 13, 2025 Forval Telecom,Inc. announced that they will report fiscal year 2025 results on May 13, 2025 Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: JP¥9.97 (vs JP¥8.36 in 3Q 2024) Third quarter 2025 results: EPS: JP¥9.97 (up from JP¥8.36 in 3Q 2024). Revenue: JP¥6.23b (up 8.4% from 3Q 2024). Net income: JP¥167.0m (up 19% from 3Q 2024). Profit margin: 2.7% (up from 2.4% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 9% per year. Duyuru • Jan 03
Forval Telecom,Inc. to Report Q3, 2025 Results on Feb 12, 2025 Forval Telecom,Inc. announced that they will report Q3, 2025 results on Feb 12, 2025 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥8.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 09 December 2024. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (3.3%). Duyuru • Aug 27
Forval Telecom,Inc. to Report Q2, 2025 Results on Nov 13, 2024 Forval Telecom,Inc. announced that they will report Q2, 2025 results on Nov 13, 2024 Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: JP¥4.36 (vs JP¥5.97 in 1Q 2024) First quarter 2025 results: EPS: JP¥4.36 (down from JP¥5.97 in 1Q 2024). Revenue: JP¥5.60b (up 7.0% from 1Q 2024). Net income: JP¥73.0m (down 27% from 1Q 2024). Profit margin: 1.3% (down from 1.9% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Duyuru • Jun 28
Forval Telecom,Inc. to Report Q1, 2025 Results on Aug 09, 2024 Forval Telecom,Inc. announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • Jun 26
Full year 2024 earnings released: EPS: JP¥44.76 (vs JP¥22.58 in FY 2023) Full year 2024 results: EPS: JP¥44.76 (up from JP¥22.58 in FY 2023). Revenue: JP¥23.1b (down 6.6% from FY 2023). Net income: JP¥750.0m (up 98% from FY 2023). Profit margin: 3.2% (up from 1.5% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • May 17
Full year 2024 earnings released: EPS: JP¥44.76 (vs JP¥22.58 in FY 2023) Full year 2024 results: EPS: JP¥44.76 (up from JP¥22.58 in FY 2023). Revenue: JP¥23.1b (down 6.6% from FY 2023). Net income: JP¥750.0m (up 98% from FY 2023). Profit margin: 3.2% (up from 1.5% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Duyuru • May 15
Forval Telecom,Inc., Annual General Meeting, Jun 20, 2024 Forval Telecom,Inc., Annual General Meeting, Jun 20, 2024. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.6%). Duyuru • Mar 02
Forval Telecom,Inc. to Report Fiscal Year 2024 Results on May 13, 2024 Forval Telecom,Inc. announced that they will report fiscal year 2024 results on May 13, 2024 Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: JP¥8.36 (vs JP¥6.92 in 3Q 2023) Third quarter 2024 results: EPS: JP¥8.36 (up from JP¥6.92 in 3Q 2023). Revenue: JP¥5.75b (down 7.9% from 3Q 2023). Net income: JP¥140.0m (up 21% from 3Q 2023). Profit margin: 2.4% (up from 1.9% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 27
Forval Telecom,Inc. to Report Q3, 2024 Results on Feb 09, 2024 Forval Telecom,Inc. announced that they will report Q3, 2024 results on Feb 09, 2024 Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: JP¥16.11 (vs JP¥2.33 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥16.11 (up from JP¥2.33 loss in 2Q 2023). Revenue: JP¥6.14b (flat on 2Q 2023). Net income: JP¥270.0m (up JP¥309.0m from 2Q 2023). Profit margin: 4.4% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥7.00 per share at 4.5% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 11 December 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 4.5%. Within top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.7%). Duyuru • Aug 30
Forval Telecom,Inc. to Report Q2, 2024 Results on Nov 10, 2023 Forval Telecom,Inc. announced that they will report Q2, 2024 results on Nov 10, 2023 New Risk • Aug 12
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 51% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (51% net debt to equity). Profit margins are more than 30% lower than last year (1.7% net profit margin). Market cap is less than US$100m (JP¥5.75b market cap, or US$39.7m). Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: JP¥5.97 (vs JP¥3.65 in 1Q 2023) First quarter 2024 results: EPS: JP¥5.97 (up from JP¥3.65 in 1Q 2023). Revenue: JP¥5.23b (down 5.4% from 1Q 2023). Net income: JP¥100.0m (up 64% from 1Q 2023). Profit margin: 1.9% (up from 1.1% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 18
Full year 2023 earnings released: EPS: JP¥22.58 (vs JP¥52.00 in FY 2022) Full year 2023 results: EPS: JP¥22.58 (down from JP¥52.00 in FY 2022). Revenue: JP¥24.7b (up 14% from FY 2022). Net income: JP¥378.0m (down 56% from FY 2022). Profit margin: 1.5% (down from 4.0% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Duyuru • May 14
Forval Telecom,Inc., Annual General Meeting, Jun 22, 2023 Forval Telecom,Inc., Annual General Meeting, Jun 22, 2023. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share at 5.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 09 June 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (2.9%). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: JP¥6.92 (vs JP¥12.82 in 3Q 2022) Third quarter 2023 results: EPS: JP¥6.92 (down from JP¥12.82 in 3Q 2022). Revenue: JP¥6.25b (up 16% from 3Q 2022). Net income: JP¥116.0m (down 46% from 3Q 2022). Profit margin: 1.9% (down from 4.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Duyuru • Dec 30
Forval Telecom,Inc. to Report Q3, 2023 Results on Feb 10, 2023 Forval Telecom,Inc. announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 4 highly experienced directors. 1 independent director (6 non-independent directors). Independent Outside Director Yoshiyuki Wada was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 13
Second quarter 2023 earnings released: JP¥2.33 loss per share (vs JP¥11.74 profit in 2Q 2022) Second quarter 2023 results: JP¥2.33 loss per share (down from JP¥11.74 profit in 2Q 2022). Revenue: JP¥6.14b (up 14% from 2Q 2022). Net loss: JP¥39.0m (down 120% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 12 December 2022. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 5.0%. Within top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (3.0%). Duyuru • Sep 01
Forval Telecom,Inc. to Report Q2, 2023 Results on Nov 10, 2022 Forval Telecom,Inc. announced that they will report Q2, 2023 results on Nov 10, 2022 Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: JP¥3.65 (vs JP¥19.17 in 1Q 2022) First quarter 2023 results: EPS: JP¥3.65 (down from JP¥19.17 in 1Q 2022). Revenue: JP¥5.53b (up 10.0% from 1Q 2022). Net income: JP¥61.0m (down 81% from 1Q 2022). Profit margin: 1.1% (down from 6.4% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Duyuru • May 30
Forval Telecom,Inc. to Report Q1, 2023 Results on Aug 09, 2022 Forval Telecom,Inc. announced that they will report Q1, 2023 results on Aug 09, 2022 Duyuru • May 18
Forval Telecom,Inc., Annual General Meeting, Jun 23, 2022 Forval Telecom,Inc., Annual General Meeting, Jun 23, 2022. Reported Earnings • May 16
Full year 2022 earnings released: EPS: JP¥52.00 (vs JP¥27.32 in FY 2021) Full year 2022 results: EPS: JP¥52.00 (up from JP¥27.32 in FY 2021). Revenue: JP¥21.8b (flat on FY 2021). Net income: JP¥868.0m (up 90% from FY 2021). Profit margin: 4.0% (up from 2.1% in FY 2021). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. 2 independent directors (6 non-independent directors). Independent Outside Director Yoshiyuki Wada was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Apr 08
Forval Telecom,Inc. to Report Fiscal Year 2022 Results on May 13, 2022 Forval Telecom,Inc. announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 03 June 2022. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (3.3%). Reported Earnings • Feb 10
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥12.82 (up from JP¥8.03 in 3Q 2021). Revenue: JP¥5.40b (up 1.5% from 3Q 2021). Net income: JP¥214.0m (up 60% from 3Q 2021). Profit margin: 4.0% (up from 2.5% in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Nov 11
Second quarter 2022 earnings released: EPS JP¥11.74 (vs JP¥10.84 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: JP¥5.39b (down 1.7% from 2Q 2021). Net income: JP¥196.0m (up 8.3% from 2Q 2021). Profit margin: 3.6% (up from 3.3% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥7.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 10 December 2021. Trailing yield: 4.6%. Within top quartile of Japanese dividend payers (3.0%). Higher than average of industry peers (3.2%). Reported Earnings • Aug 15
First quarter 2022 earnings released: EPS JP¥19.17 (vs JP¥4.79 in 1Q 2021) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2022 results: Revenue: JP¥5.03b (down 2.7% from 1Q 2021). Net income: JP¥320.0m (up 300% from 1Q 2021). Profit margin: 6.4% (up from 1.5% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 30 June 2021. Trailing yield: 4.4%. Within top quartile of Japanese dividend payers (2.7%). Higher than average of industry peers (3.3%). Is New 90 Day High Low • Mar 11
New 90-day high: JP¥376 The company is up 2.0% from its price of JP¥370 on 11 December 2020. The Japanese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 9.0% over the same period. Duyuru • Mar 04
Forval Telecom,Inc. to Report Fiscal Year 2021 Results on May 14, 2021 Forval Telecom,Inc. announced that they will report fiscal year 2021 results on May 14, 2021 Reported Earnings • Feb 11
Third quarter 2021 earnings released: EPS JP¥8.03 (vs JP¥8.75 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: JP¥5.32b (down 2.2% from 3Q 2020). Net income: JP¥134.0m (down 8.2% from 3Q 2020). Profit margin: 2.5% (down from 2.7% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 84% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 03
New 90-day high: JP¥340 The company is up 6.0% from its price of JP¥320 on 04 September 2020. The Japanese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Telecom industry, which is up 5.0% over the same period. Duyuru • Nov 29
Forval Telecom, Inc. to Report Q3, 2021 Results on Feb 09, 2021 Forval Telecom, Inc. announced that they will report Q3, 2021 results on Feb 09, 2021 Duyuru • Aug 30
Forval Telecom, Inc. to Report Q2, 2021 Results on Nov 11, 2020 Forval Telecom, Inc. announced that they will report Q2, 2021 results on Nov 11, 2020 Duyuru • Jun 29
Forval Telecom, Inc. to Report Q1, 2021 Results on Aug 12, 2020 Forval Telecom, Inc. announced that they will report Q1, 2021 results on Aug 12, 2020