On Wednesday, Shares of Maxim Integrated Products Inc. (NASDAQ:MXIM), gained 1.99% to $34.42.
Sarvint Technologies declared that it has accomplished a Series A round of financing to further develop and commercialize its Wearable Motherboard technology. The $6 million investment was led by CTW Venture Partners with participation from Monta Vista Capital and Maxim Ventures. Sarvint has also reached a planned alliance with Maxim Integrated Products, Inc. (MXIM) to bring Sarvint’s products to market.
“CTW invests in companies that have the potential to make a real difference in people’s lives,” said Palaniswamy “Raj” Rajan, managing partner of CTW Venture Partners and Sarvint co-founder and chairman. “Sarvint is one of those companies, and we’re excited to play a central role in making it a success.”
Sarvint’s Smart Wearable System will be commercially accessible later this year. They are based on the world’s first Wearable Motherboard invented at Georgia Tech by a team of researchers, counting Sundaresan Jayaraman, Ph.D., and Sungmee Park, both of whom are Sarvint co-founders. Georgia Tech Research Corporation awarded Sarvint an exclusive license to the technology in 2014. The company’s Smart Shirt uses specialty fibers to carry signals that measure vital signs such as heart rate, electrocardiogram, temperature, respiration rate and other health metrics that can be monitored by a smartphone. Smart Shirt is one of many products Sarvint will introduce based on the Wearable Motherboard technology.
Maxim Integrated Products, Inc. designs, develops, manufactures, and markets various linear and mixed-signal integrated circuits worldwide. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.
Shares of Incontact Inc (NASDAQ:SAAS), inclined 2.71% to $7.57, during its last trading session.
inContact, declared a major county government is replacing their premise-based contact center system with the inContact cloud solution. The county will implement inContact’s cloud platform with 300 agents initially, with the expectation to expand operations and customize their contact center system to provide optimal customer service to their growing resident population.
The county’s transition from its aging premise system centers around inContact’s customizable and agile cloud system. The Automatic Call Distributor (ACD) and Interactive Voice Response (IVR) are the core building blocks of the inContact cloud platform with skills-based multichannel routing to ensure citizens’ needs are addressed by the ideal agent in the most efficient manner. The flexibility offered by inContact’s cloud platform will enable their new customer to add agents, counting the ability to reduce operating costs by employing at-home agents.
“We are seeing an enhance in government agencies moving to the cloud and transitioning from expensive capital investments to the flexible, pay-as-you-go billing model accessible with cloud solutions,” said Paul Jarman, CEO at inContact. “The public sector is placing a premium on excellent customer service and it is more important than ever for government contact centers to leverage the benefits of scalable solutions that can quickly meet their evolving needs.”
inContact, Inc. provides cloud contact center software solutions, and network connectivity services in the United States. The company operates in two segments, Software and Network Connectivity.
At the end of Wednesday’s trade, Shares of Arrow Electronics, Inc. (NYSE:ARW), lost -1.70% to $57.39.
Arrow Electronics declared it is working with Resurgent Semiconductor to provide Arrow customers with access to certified semiconductor components formerly suspended by their original manufacturers.
“Working together, Arrow and Resurgent will provide manufacturers with uninterrupted, long-term access to the certified parts they need,” said David West, vice president of semiconductor marketing for Arrow. “This partnership will further enhance Arrow’s demonstrated expertise in solving long-term availability challenges for customers through a spectrum of end-of-life product services.”
Consumer demand for faster, smaller and cheaper technology has created challenges for original equipment manufacturers (OEMs) with long product lifecycles, like those in the defense, aerospace and industrial markets. Component suppliers eventually discontinue products to make way for their faster, smaller and cheaper replacements. That has traditionally forced OEMs into challenging tradeoffs between redesign and large “last-time-buy” investments in suspended parts.
Arrow Electronics, Inc. provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions worldwide. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.
Finally, Air Products & Chemicals, Inc. (NYSE:APD), ended its last trade with -0.90% loss, and closed at $145.38.
Air Products, stated net income of $359 million, up 14 percent as compared to preceding year, and diluted earnings per share (EPS) of $1.65, up 13 percent as compared to preceding year for its fiscal third quarter ended June 30, 2015.
On a GAAP basis, net income and diluted EPS from ongoing operations were $319 million and $1.47, respectively, for the quarter.
The results and guidance in this release, unless otherwise indicated, are based on non-GAAP ongoing operations. A reconciliation of GAAP to non-GAAP results can be found at the end of this release.
Third quarter sales of $2,470 million reduced six percent as compared to preceding year, as underlying sales growth of four percent was offset by unfavorable currency and lower energy pass-through. Volumes raised three percent, primarily in Industrial GasesAsia, Materials Technologies and the LNG business, and pricing was up one percent.
Operating income of $482 million raised 17 percent as compared to preceding year, and operating margin of 19.5 percent improved 380 basis points, driven by cost performance, higher pricing and higher volumes. Adjusted EBITDA of $758 million raised nine percent over preceding year, and EBITDA margin of 30.7 percent improved 430 basis points, reflecting strong operating leverage.
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, performance materials, equipment, and services worldwide. The company operates in Merchant Gases, Tonnage Gases, Electronics and Performance Materials, and Equipment and Energy segments.
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