On Wednesday, Shares of SYSCO Corporation (NYSE:SYY), gained 1.74% to $38.63.
Sysco Corporation declared financial results for its fourth quarter and fiscal year ended June 27, 2015.
Fourth Quarter Fiscal 2015 Highlights
- Sales raised 0.9% to $12.4 billion;
- Gross profit raised 3.0% to $2.2 billion; gross margin raised 35 basis points to 17.9%;
- Adjusted operating income raised 5.8% to $509 million; and
- Adjusted EPS raised 6.1% to $0.52.
Fiscal 2015 Highlights
- Sales raised 4.7% to $48.7 billion;
- Gross profit raised 4.5% to $8.6 billion; gross margin was flat at 17.6%;
- Adjusted operating income raised 3.4% to $1.8 billion;
- Adjusted EPS raised 5.1% to $1.84; and
- Cash flow from operations was $1.6 billion; and free cash flow was $1.0 billion.
Sysco Corporation, through its auxiliaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates in Broadline and SYGMA segments.
Shares of PerkinElmer, Inc. (NYSE:PKI), declined -1.22% to $50.08, during its last trading session.
PerkinElmer stated financial results for the second quarter ended June 28, 2015.
The Company stated GAAP earnings per share from ongoing operations of $0.43, contrast to $0.46 in the second quarter of 2014. Revenue in the second quarter of 2015 was $563.9 million, contrast to $556.2 million in the second quarter of 2014. GAAP operating income from ongoing operations for the second quarter of 2015 was $68.1 million, contrast to $69.6 million in the second quarter of 2014. GAAP operating profit margin from ongoing operations was 12.1% in the second quarter of 2015, contrast to 12.5% in the second quarter of 2014.
Adjusted earnings per share was $0.60, contrast to $0.59 in the second quarter of 2014. Adjusted revenue raised 1% and organic revenue raised 4%, contrast to the second quarter of 2014. Adjusted revenue was $564.1 million, contrast to $556.6 million in the second quarter of 2014. Adjusted operating income for the second quarter of 2015 was $95.8 million, contrast to $93.3 million for the same period a year ago. Adjusted operating profit margin was 17.0% as a percentage of adjusted revenue, as contrast to 16.8% for the same period a year ago. Adjustments for the Company’s non-GAAP financial measures have been noted in the attached reconciliations. Certain of these non-GAAP financial measures are presented on a ‘constant currency’ basis, so that financial results can be viewed without the fluctuations in foreign currency exchange rates, allowing for a period-to-period comparison of underlying business performance.
PerkinElmer Inc. provides products, services, and solutions to the diagnostics, research, environmental, industrial, and laboratory services markets worldwide. The company operates through two segments, Human Health and Environmental Health.
Finally, Diamondback Energy Inc (NASDAQ:FANG), ended its last trade with 2.27% gain, and closed at $72.48.
Diamondback Energy declared the pricing of an underwritten public offering of 2,500,000 shares of its common stock. The 2,500,000 share offering represents a 500,000 share upsize to the originally projected 2,000,000 share offering. The underwriter intends to offer the shares from time to time for sale in one or more transactions on the NASDAQ Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. The total gross proceeds of the offering (before underwriter discounts and commissions and estimated offering expenses) will be about $175.6 million. The underwriter has a 30-day option to purchase up to an additional 375,000 shares of common stock from Diamondback.
Diamondback intends to use the net proceeds from this offering to repay a portion of the outstanding borrowings under its revolving credit facility.
The offering is predictable to close on August 18, 2015, subject to customary closing conditions.
Credit Suisse Securities (USA) LLC is acting as sole book-running manager for the offering. Copies of the preliminary prospectus supplement for the offering may be obtained on the website of the Securities and Exchange Commission, www.sec.gov or by contacting Credit Suisse Securities (USA) LLC, Prospectus Department (1-800-221-1037), at One Madison Avenue, New York, New York 10010.
Diamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas.
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