On Thursday, Shares of PulteGroup, Inc. (NYSE:PHM), gained 0.10% to $20.18.
Pulte Group, declared financial results for its second quarter ended June 30, 2015. For the quarter, the Company stated net income of $103 million, or $0.28 per share, counting a pretax benefit of $27 million, or $0.05 per share, resulting from a legal settlement in the period. Preceding year net income of $42 million, or $0.11 per share, comprised of pretax charges of $88 million, or $0.14 per share, for insurance reserves and office relocation costs.
“We are very happy with market conditions as solid buyer demand assisted to drive an 11% enhance in the value of new orders to $1.8 billion, our highest quarterly order value since 2007,” said Richard J. Dugas, Jr., Chairman, President and Chief Executive Officer of PulteGroup. “Within this positive demand environment, we continue to demonstrate disciplined capital allocation compriseent with our Value Creation strategy by growing our land and community pipeline, while simultaneously paying down $238 million of debt and returning $243 million to shareholders through share repurchases and dividends.
PulteGroup, Inc., through its auxiliaries, engages in the homebuilding business; mortgage banking operations; and title operations in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of housing on land.
Shares of Waste Management, Inc. (NYSE:WM), inclined 2.69% to $49.08, during its last trading session.
Waste Management, declared financial results for its quarter ended June 30, 2015. Revenues for the second quarter of 2015 were $3.32 billion contrast with $3.56 billion for the same 2014 period. Net income for the quarter was $274 million, or $0.60 per diluted share, contrast with net income of $210 million, or $0.45 per diluted share, for the second quarter of 2014. On an as-adjusted basis, not taking into account certain items, net income was $306 million, or $0.67 per diluted share, in the second quarter of 2015, contrast with $270 million, or $0.58 per diluted share, in the second quarter of 2014.
The Company’s as-adjusted second quarter 2015 results exclude a $0.07 per diluted share charge to operating expenses associated with resolving the Company’s withdrawal liability from certain underfunded multiemployer pension plans. The Company’s second quarter 2014 results have been adjusted to exclude a negative impact of $0.15 per diluted share, primarily related to the divestiture of operations in Puerto Rico, and the earnings from businesses and assets divested in 2014, which contributed $0.02 per diluted share to earnings in the second quarter of 2014.
Waste Management, Inc., through its auxiliaries, provides various waste administration environmental services to residential, commercial, industrial, and municipal customers in North America.
Finally, Microsemi Corporation (NASDAQ:MSCC), ended its last trade with 3.32% gain, and closed at $32.72.
Microsemi Corporation stated unaudited results for its third quarter of fiscal year 2015 ended June 28, 2015.
Net sales for Microsemi’s third quarter of fiscal year 2015 were $317.1 million, up 8.5 percent from the third quarter of 2014. GAAP gross margin for the third quarter of 2015 was 54.3 percent, inclusive of the effect of non-cash purchase accounting charges of $8.6 million, and improved 180 basis points from 52.5 percent stated in the third quarter of 2014. GAAP operating income for the third quarter of 2015 was $25.2 million, up $18.9 million over the third quarter of 2014. GAAP operating margin was 7.9 percent for the third quarter of 2015 and improved 570 basis points from 2.2 percent stated in the third quarter of 2014. GAAP net income for the third quarter of 2015 was $14.7 million or $0.15 per diluted share contrast to a loss of $4.3 million or $0.05 per diluted share for the third quarter of 2014. Operating and free cash flow for the third quarter of 2015, which comprised of payments for restructuring and transaction costs of $20.1 million, were $55.1 million and $44.6 million, respectively.
Microsemi Corporation designs, manufactures, and markets analog and mixed-signal semiconductor solutions in the United States, Europe, and Asia. The company offers radio frequency (RF) and power components, analog and RF integrated circuits, system-on-chip solutions, field programmable gate arrays, application-specific integrated circuits, power administration products, timing and synchronization devices and precise time solutions, chip scale atomic clocks, voice processing devices, discrete components, security technologies, and scalable anti-tamper products.
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