On Wednesday, Shares of Hertz Global Holdings, Inc. (NYSE:HTZ), gained 8.48% to $17.90.
Hertz Global Holdings stated net income of $23 million, or $0.05 per diluted share, for the second quarter 2015, contrast with net income of $72 million, or $0.15 per diluted share, for the same period last year. The Company also stated that adjusted net income for the second quarter 2015 was $88 million, or $0.19 per diluted share, contrast with $132 million, or $0.28 per diluted share, for the same period last year. Total revenues for the second quarter 2015 were $2.7 billion as compared to $2.8 billion for the same period last year. Corporate EBITDA for the second quarter of 2015 was $379 million as compared to $446 million in the second quarter of 2014.
KEY MILESTONES IN THE SECOND QUARTER LAY THE FOUNDATION FOR SECOND HALF 2015 IMPROVEMENT
During the second quarter of 2015, Hertz Global achieved several key milestones that position the Company well for the second half of the year:
- During the quarter, Hertz Global continued to right-size U.S. Car Rental capacity and ended the period with fleet aligned with demand as evidenced by early indications of third-quarter, fleet-efficiency metrics.
- Not taking into account ancillary fuel sales, U.S. Car Rental Total Revenue Per Transaction Day (RPD) was flat year-over-year.
- Hertz Global continued implementation of its fleet renewal strategy across all of its brands. During the quarter, the Company added about 125,000 new vehicles and disposed of about 120,000 risk and repurchase vehicles. As of the end of the second quarter, the U.S. Car Rental fleet has been significantly renewed since September 2014.
Hertz Global Holdings, Inc., through its auxiliaries, rents and leases cars and trucks in the United States and internationally. It operates in four segments: U.S. Car Rental, International Car Rental, Worldwide Equipment Rental, and All Other Operations.
Shares of American Apparel, Inc. (NYSEMKT:APP), declined -37.35% to $0.13, during its last trading session, hitting its lowest level.
Already facing falling sales and lawsuits from its ousted founder, shares of American Apparel plunged further Wednesday after the retailer said it doesn’t have enough financing to keep operating for the next year, meaning it will need to raise money or find new financing, according to AP.
The Los Angeles company said it’s also discussing options like refinancing, new capital-raising moves, amendments or restructuring its debt and other financial obligations. It is not clear if any of those moves will come to pass, and American Apparel warned that investors could suffer big losses on their investments. APReports
American Apparel also says it may be out of compliance with the terms of its revolving credit facility and is in talks with lender Capital One about changing the terms of that credit facility. AP added.
American Apparel, Inc. designs, manufactures, distributes, retails, and sells branded fashion basic apparel products, and clothing and accessories for women, men, children, and babies. It offers T-shirts, denim, sweaters, jackets, and accessories.
Finally, FireEye, Inc. (NASDAQ:FEYE), ended its last trade with -2.82% loss, and closed at $42.72.
FireEye declared financial results for the second quarter of 2015.
Second Quarter 2015 Revenue and Billings
- Revenue: Second quarter revenue was $147.2 million, an enhance of 56 percent from the second quarter of 2014 and above the formerly issued guidance range of $140 to $144 million. Total revenue comprised of product revenue of $49.7 million, product subscription revenue of $48.5 million, support and maintenance revenue of $21.4 million and professional services revenue of $27.6 million.
- Billings: Second quarter billings were $178.3 million, an enhance of 57 percent from the second quarter of 2014 and above the formerly issued guidance range of $165 to $170 million. Total billings comprised of product billings of $48.8 million, product subscription billings of $72.5 million, support and maintenance billings of $31.1 million, and professional services billings of $25.9 million. The average contract length for new subscription and support billings was about 31 months, contrast to about 29 months in the second quarter of 2014.
- Deferred revenue: Deferred revenue totaled $409.9 million at the end of the second quarter, an enhance of $177.9 million, or 77 percent, from the end of the second quarter of 2014. Current deferred revenue was $232.5 million, an enhance of $95.7 million from the end of the second quarter of 2014, and comprised of $9.2 million in deferred product revenue and $223.3 million in deferred subscription, support and services revenue. Non-current deferred revenue was $177.4 million, an enhance of $82.2 million from the end of the second quarter of 2014. Non-current deferred revenue comprised of $3.6 million of deferred product revenue and $173.8 million of deferred subscription, support and services revenue.
FireEye, Inc., together with its auxiliaries, provides cybersecurity solutions for detecting, preventing, and resolving cyber-attacks. The company offers vector-specific appliance solutions that provide threat protection from network to endpoint for inbound and outbound network traffic that may contain sensitive information. Its threat prevention solutions comprise appliances covering the Web, email, endpoint, file, and mobile threat vectors.
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