On Thursday, Shares of Qorvo Inc (NASDAQ:QRVO), lost -14.17% to $60.49.
Qorvo Reports Fiscal 2016 First Quarter Results.
Quarterly Financial Highlights
- GAAP quarterly revenue grew 6% sequentially to $673.6 million
- On a GAAP basis, gross margin was 41.5%, operating loss was ($1.3) million, and EPS was $0.01
- Non-GAAP gross margin expanded to 51.5%, reflecting favorable product mix and synergies
- Non-GAAP operating income raised by 11% sequentially to $187.8 million, or 27.9% of revenue
- Non-GAAP EPS was $1.09
- Qorvo repurchased about 602,000 shares of common stock at an average price of $83.10
Qorvo, Inc. provides technologies and radio frequency (RF) solutions for mobile, infrastructure, defense, and aerospace applications in the United States and internationally.
Shares of Key Energy Services, Inc. (NYSE:KEG), declined -15.87% to $1.06, during its last trading session.
Key Energy Services stated second quarter 2015 merged revenues of $197.5 million and a pre-tax GAAP loss of $96.1 million, or $0.42 per share. The results for the second quarter comprise:
- a pre-tax loss of $21.4 million, or $0.10 per share, related to a pending sale and the associated impairment of our assets in Oman;
- pre-tax costs of $8.4 million, or $0.04 per share, related to the formerly revealed Foreign Corrupt Practices Act (“FCPA”) investigations;
- a pre-tax loss of $2.1 million, or $0.01 per share, on the sale of certain U.S. assets; and
- pre-tax costs of $1.1 million due to severance.
Key Energy Services, Inc. operates as an onshore rig-based well servicing contractor in the United States and internationally. It offers rig-based services, counting the maintenance, workover, and recompletion of existing oil wells; completion of newly-drilled wells; and plugging and abandonment of wells at the end of their lives, in addition to specialty drilling services to oil and natural gas producers.
Finally, Royal Bank of Canada (NYSE:RY), ended its last trade with -0.09% loss, and closed at $58.19.
RBC, declared its 2015 RBC Students Leading Change Scholarship recipients, recognizing 15 of Canada’s most civic-minded students. Each winner will receive a $10,000 scholarship towards post-secondary tuition, and six will travel to Kenya for a Me to We Trip experience to volunteer with the international charity Free The Children.
“Today’s students continue to showcase the true potential of young Canadians. We’re impressed by the caliber of talent and know they continue to raise the bar each year,” said Mandy Mail, director of Student Banking. “We are recognizing 15 students who demonstrated outstanding achievements in both their classrooms and their communities. The RBC Students Leading Change Scholarship will give them the opportunity to continue to lead change.”
Royal Bank of Canada, together with its auxiliaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Administration, Insurance, Investor & Treasury Services, and Capital Markets.
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