During Friday’s Afternoon trade, Shares of Generac Holdings Inc.(NYSE:GNRC), lost -0.87% to $30.94.
Generac Holdings Inc. (GNRC) a leading designer and manufacturer of power generation equipment and other engine powered products, recently stated financial results for its second quarter ended June 30, 2015.
Second Quarter 2015 Highlights
- Net sales were $288.4 million during the second quarter of 2015 as contrast to $362.6 million in the preceding-year second quarter.
- Residential product sales were $133.5 million during the second quarter as contrast to $179.6 million in the preceding-year quarter, primarily due to lower demand of home standby generators as a result of a power outage severity environment that continues to remain challenging.
- Commercial & Industrial (C&I) product sales were $134.6 million during the second quarter as contrast to $163.5 million in the preceding-year quarter, primarily due to a decline in shipments to oil & gas markets and, to a lesser extent, reduced shipments to telecom national account customers.
Generac Holdings Inc. designs, manufactures, and markets power generation equipment and other engine powered products for the residential, light commercial, industrial, oil and gas, and construction markets in the United States, Canada, and internationally.
Shares of Immunomedics, Inc. (NASDAQ:IMMU), declined -1.42% to $2.08, during its Afternoon trading session.
Immunomedics, Inc. (IMMU) stated financial results for the fourth quarter and fiscal year ended June 30, 2015. The Company also highlighted recent key developments and planned activities for its clinical pipeline.
Fourth Quarter Fiscal 2015 Results
Total revenues for the fourth quarter of fiscal year 2015, which ended on June 30, 2015, were $2.4 million as contrast to total revenues of $1.2 million for the same quarter last fiscal year. The enhance of $1.2 million in total revenues this quarter was primarily due to a $1.0 million license fee revenue earned upon reaching a clinical milestone in the Company’s PartnershipAgreement, as amended, with Bayer (formerly Algeta ASA). There was no license fee revenue recorded in the same quarter last fiscal year.
Total costs and expenses for the current quarter were $13.6 million, as contrast to $13.1 million for the same period in 2014, representing an enhance of $0.5 million, or 4%. This enhance was driven primarily by $1.1 million higher research and development expenses from raised clinical trial cost for the Phase 3 PANCRIT-1 registration study of yttrium-90-labeled clivatuzumab tetraxetan for the therapy of patients with advanced pancreatic cancer, and raised product development and manufacturing expenses related to the expansion of clinical studies for the two antibody-drug conjugate (ADC) programs. The enhance in research and development expenses was partially offset by $0.4 million reduced general and administrative costs mainly from reduced legal and professional fees.
Immunomedics, Inc., a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune, and other diseases. The company is developing Yttrium-90-labeled clivatuzumab tetraxetan, which is in Phase III registration study used for the treatment of pancreatic cancer.
Donaldson Company, Inc.(NYSE:DCI), during its Friday’s Afternoon trading session decreased -1.29% to $30.70.
Donaldson Company, Inc. (DCI) reported fourth quarter net earnings of $56.3 million, or 41 cents per share1, and full-year net earnings of $208.1 million, or $1.49 per share. Foreign currency translation negatively impacted earnings by $5.4 million in fourth quarter and $14.3 million for the full year, or 7.5 percent and 5.5 percent, respectively. Adjusted earnings per share2 were 45 cents in fourth quarter and $1.58 in full-year 2015. In 2014, GAAP EPS was 50 cents in fourth quarter and $1.76 for the full year. The tables attached to this press release provide a reconciliation of non-GAAP to GAAP measures.
During the year, we responded to reduced Customer demand by initiating restructuring actions, which we expect will generate annual savings of $35 million. At the same time, we continued investing for growth, counting accelerating the expansion of our liquid filtration capabilities in Europe with our new plant in Poland, increasing our aftermarket distribution facilities in Latin America and Eastern Europe, and ongoing the roll-out of our global ERP system.
Donaldson Company, Inc. engages in the manufacture and sale of filtration systems and replacement parts. The company operates through two segments, Engine Products and Industrial Products. The Engine Products segment provides air filtration systems, exhaust and emissions systems, and replacement filters, in addition to liquid filtration systems, counting hydraulics, fuel, and lube.
Finally, SeaChange International(NASDAQ:SEAC), decreased -0.16%, to $6.40.
SeaChange International, Inc. (SEAC) stated second quarter fiscal 2016 revenue of $27.9 million and U.S. GAAP loss from operations of $4.8 million, or $0.14 per basic share, contrast to second quarter fiscal 2015 revenue of $29.8 million and U.S. GAAP operating loss of $5.2 million, or $0.15 per basic share. Not taking into account non-GAAP charges of $3.5 million, non-GAAP loss from operations for the second quarter of fiscal 2016 was $1.3 million, or $0.04 per basic share, contrast to non-GAAP loss from operations of $2.8 million, or $0.08 per basic share, in the second quarter of fiscal 2015.
For the first six months of fiscal 2016, the Company posted revenue of $51.0 million and a U.S. GAAP loss from operations of $14.2 million, contrast to revenue of $54.2 million and U.S. GAAP loss from operations of $15.3 million in the same preceding period. The Company posted a non-GAAP loss from operations for the first six months of fiscal 2016 of about $8.1 million, contrast to a non-GAAP loss from operations of $10.0 million for the same period of the preceding fiscal year.
SeaChange International, Inc. provides multi-screen video products and services that facilitate the aggregation, licensing, administration, and distribution of video and television advertising content to cable system operators, and telecommunications and media companies worldwide. It offers multi-screen television products, counting SeaChange Adrenalin, a multi-screen television platform that enables service providers to manage, monetize, and deliver a seamless viewing experience across televisions, personal computers (PCs), tablets, smart phones, and other IP-enabled devices; SeaChange Nitro, a subscriber experience software that personalizes the multi-platform subscriber experience; and SeaChange AssetFlow that is used to receive, manage, and publish content for on-demand viewing on televisions, tablets, PCs, and other consumer devices, in addition to SeaChange Rave, an over-the-top (OTT) video platform for media companies and service providers.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
