During Thursday’s current trade, Capstone Turbine Corporation (NASDAQ:CPST)’s shares incline 4.56% to $0.503.
Capstone Turbine Corporation (CPST) declared its financial results for the fourth quarter and fiscal year ended March 31, 2015.
Highlights
- Gross margin of $18.3 million, or 16% of revenue, for Fiscal 2015
- Gross margin as a percentage of revenue flat contrast to Fiscal 2014 despite a 13% decline in revenue, reflecting operational improvements to the cost structure
- Accessories, parts and service revenue up 7%
- Factory Protection Plan (FPP) backlog of $61.2 million as of March 31, 2015
- Cash balance of $32.2 million as of March 31, 2015
President and Chief Executive Officer Darren Jamison commented, “In Fiscal 2015, Capstone adapted to challenging global and economic market dynamics in ways that have made us a more resilient company recently and for the future. We continued to make noteworthy progress in strengthening our company by further diversifying our business, growing and maturing our distribution network, improving our product reliability, expanding into promising new geographies, and implementing cost savings. However, our progress was eclipsed by headwinds from the dramatic downturn of the oil markets, a substantially stronger U.S. dollar making our products more expensive overseas, and on-going geopolitical tensions in Russia, North Africa and the Middle East. These conditions influenced our business in Fiscal 2015, but they also prompted us to closely evaluate areas of our business that are within our control. As a result, we have taken decisive actions that ultimately have made Capstone stronger, leaner, more flexible and better positioned for growth than ever before. We look forward to regaining our growth momentum over the next year ahead.
Fourth Quarter 2015 Financial Summary
Revenue for the fourth quarter of Fiscal 2015 was $29.9 million, contrast to $30.1 million for the third quarter of Fiscal 2015, and $36.4 million for the fourth quarter of Fiscal 2014.
Capstone’s product backlog as of March 31, 2015 was $165.7 million, contrast to $175.5 million at December 31, 2014, and $171.6 million at March 31, 2014.
Gross margin for the fourth quarter of Fiscal 2015 was $3.5 million, or 11.8% of revenue, contrast to $6.1 million, or 20.3% of revenue, for the third quarter of Fiscal 2015, and $6.1 million, or 16.9% of revenue, for the fourth quarter of Fiscal 2014. Gross margin for the fourth quarter of Fiscal 2015 was influenced by a $1.2 million non-cash charge for slow-moving inventory related to the Company’s waste heat recovery generator product. In addition, cost of goods sold for the quarter comprised of $0.7 million of product shipped without recognizing the associated revenue. Without these two items, gross margin for the fourth quarter of 2015 would have been $5.4 million, or 18.0% of revenue.
Capstone Turbine Corporation develops, manufactures, markets, and services microturbine technology solutions for use in stationary distributed power generation applications worldwide. It offers microturbine units, subassemblies, components, and various accessories for applications, counting cogeneration comprising combined heat and power (CHP) and integrated CHP, in addition to combined cooling, heat, and power; and renewable energy, natural resources, and critical power supply.
VF Corp (NYSE:VFC)‘s shares gain 1.27% to $70.35, during the current trading session Thursday’s, hitting its highest level.
Vans named Carlsbad High School of Carlsbad, Calif. as the grand-prize winner of the sixth annual Vans Custom Culture design competition and awarded a $50,000 donation toward the school’s arts education program. At the final event held on June 9 at Industria Superstudios in New York City, a panel of notable judges including actress Victoria Justice, celebrity baker Amirah Kassem, musician Bea Miller, artist and author Dallas Clayton and Vans professional surfer Joel Tudor selected the winning custom Vans shoe designs among a talented group of top five finalist schools. For the remaining finalists – Circleville High School (Circleville, Ohio), Foothill High School (Henderson, N.V.), McCracken County High (Paducah, K.Y.) and Parker High School (Parker, S.D.) – Vans awarded each with $4,000 toward their arts programs.
V.F. Corporation designs, manufactures, markets, and distributes branded lifestyle apparel, footwear, and accessories in the United States and Europe. The company offers outdoor apparel, footwear and equipment, youth culture/action sports-inspired footwear, handbags, luggage, backpacks, totes, accessories, merino wool socks, women’s activewear, and travel accessories under the The North Face, Vans, Timberland, Kipling, Napapijri, Jansport, Reef, Smartwool, Eastpak, lucy, and Eagle Creek brands.
In a mid-morning trade, Take-Two Interactive Software, Inc. (NASDAQ:TTWO)‘s shares surge 1.16% to $27.89.
2K is a wholly owned publishing label of Take-Two Interactive Software, Inc. (TTWO). 2K and Turtle Rock Studios declared that one new Monster and four new Hunters are coming to Evolve™, the 4v1 shooter in which four Hunters cooperatively fight to take down a single-player controlled Monster. Offered individually, or as part of Hunting Season 2*, all five new characters will be made accessible prior to the end of Take-Two Interactive, Inc.’s fiscal year on March 31, 2016. The first new character, Lennox (Assault class), will be accessible on June 23, 2015.
Take-Two Interactive Software, Inc. develops, publishes, and markets interactive entertainment for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; offering downloadable episodes, and content and currency; and releasing titles for smartphones and tablets.
Uranium Energy Corp. (NYSEMKT:UEC), during its Thursday’s current trading session -6.49% loss and closed at $2.45.
Uranium Energy Corp (UEC) declared it has received $3.08 million in cash proceeds from the sale of uranium from inventory. This sale was completed subsequent to the Company’s fiscal third quarter ended April 30, 2015 , and will be reported in the Company’s year-end results for the fiscal year ending July 31, 2015 . The sale price of $38.50 /lb. is 8.5% higher than the current spot price.
Uranium Energy Corp. engages in the exploration, extraction, and processing of uranium concentrates on projects located in the United States and the Republic of Paraguay. As of July 31, 2014, it had mineral rights in uranium projects located in the states of Arizona, Colorado, New Mexico, Texas, and Wyoming, in addition to in the Republic of Paraguay. The company was formerly known as Carlin Gold Inc. and changed its name to Uranium Energy Corp. in January 2005. Uranium Energy Corp. was incorporated in 2003 and is based in Corpus Christi, Texas.
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