During Monday’s Current trade, Shares of CONN’S, Inc. (NASDAQ:CONN), gain 0.58% to $27.75.
Conn’s, Inc. (CONN), a specialty retailer of furniture and mattresses, home appliances, consumer electronics and home office products, and provider of consumer credit, recently stated $102.6 million in total retail net sales for the month ended June 30, 2015, an 11.9% enhance contrast to the same preceding year period. The Company also declared it has hired Thomas R. Moran as its new Chief Financial Officer.
Theodore M. Wright, Conn’s Chairman and Chief Executive Officer, commented, “Greater than 60-day delinquency was 8.9% as of June 30, 2015 contrast to 8.2% as of June 30, 2014, with a seasonal enhance of 40 basis points from May 31, 2015.
Conn’s, Inc. operates as a specialty retailer of durable consumer goods and related services in the United States. It operates through Retail and Credit segments. The company’s stores provide home appliance comprising refrigerators, freezers, washers, dryers, dishwashers, and ranges; home furniture and mattress, counting furniture and related accessories for the living room, dining room, and bedroom, in addition to traditional and specialty mattresses; and home office products comprising of computers, tablets, printers, and accessories. Its stores also offer consumer electronics, such as LCD, LED, 3-D, ultra HD, and plasma televisions; and Blu-ray players, home theater and video game products, digital cameras, and portable audio equipment. Conn’s, Inc. also provides repair service agreements, installment credit plans, and various credit insurance products.
Shares of Atlas Resource Partners, L.P. (NYSE:ARP), declined -1.39% to $3.18, during its current trading session.
Atlas Resource Partners, L.P. (ARP) stated operating and financial results for the second quarter 2015.
- Second quarter 2015 Adjusted EBITDA, a non-GAAP measure, was $64.7 million(1), contrast to $70.9 million for the first quarter 2015. The decrease from the first quarter 2015 was due to historical seasonality of ARP’s partnership administration business fee recognition, in addition to lower production margin as a result of planned deferral of capital expenditures and well connections until later in 2015.
- Distributable Cash Flow, a non-GAAP measure, was $25.4 million(1), or about $0.27 per common unit, for the second quarter 2015, contrast with $52.9 million for the preceding year second quarter.
- ARP paid monthly cash distributions totaling $0.325 per common limited partner unit for the second quarter 2015 at a distribution coverage ratio of about 0.83x. Distribution coverage for the first half of 2015 was about 1.0x. On July 22, 2015, ARP declared the June 2015 monthly distribution of $0.1083 per common unit ($1.30 per unit on an annualized basis), which will be paid on August 14, 2015 to unitholders of record as of August 7, 2015.
- On a GAAP basis, net loss was $46.8 million for the second quarter 2015, contrast with a net loss of $19.4 million for the preceding year second quarter. Net loss in the current period was principally generated by the mark-to-market loss recognized in the period from ARP’s financial hedge positions, as ARP suspended hedge accounting as of January 1, 2015.
Atlas Resource Partners, L.P. operates as an independent developer and producer of natural gas, crude oil, and natural gas liquids in the United States. The company operates in three segments: Gas and Oil Production, Well Construction and Completion, and Other Partnership Administration.
Energy XXI Ltd (NASDAQ:EXXI), during its Monday’s current trading session gained 1.25% to $1.62.
Energy XXI Ltd declared that it will restate its financial statements to correct its method of accounting for crude oil and natural gas hedging to reflect unrealized hedging gains and losses in the Company’s merged statements of operations as a component of earnings rather than on its merged balance sheets.
Historically, under the cash flow hedge accounting, the Company recorded the unrealized gains and losses on its derivative contracts, net of the related tax impact, in accumulated other comprehensive income or loss as part of the merged balance sheet, until the production month when the associated hedge contracts were settled at which time gains or losses associated with the settled contracts were reclassified to revenues.
Energy XXI (Bermuda) Limited is engaged in the acquisition, exploration, development, production, and operation of oil and natural gas properties onshore in Louisiana and Texas, and on the Gulf of Mexico. As of June 30, 2014, the company had proved reserves of 246.2 million barrels of oil equivalent. It operated or had an interest in 984 gross producing wells on 432,954 net developed acres, counting interests in 61 producing fields. Energy XXI (Bermuda) Limited was founded in 2005 and is headquartered in Houston, Texas.
Finally, PPG Industries, Inc. (NYSE:PPG), decreased -2.45%, to $94.34.
PPG Industries (PPG) declared that it has accomplished its acquisition of IVC Industrial Coatings, Inc., a U.S.-based specialty powder and liquid coatings manufacturer with 2014 sales of more than $100 million. Financial terms were not revealed.
IVC, based in Brazil, Indiana, focuses on the development, manufacture and sale of powder and liquid coatings for the general industrial segment. Its industry-leading coatings are used on a wide variety of products, counting metal office furniture, material handling and storage products, automotive parts, motorcycles, industrial containers, small appliances and electronics such as printers, servers and audio-visual equipment. IVC employs more than 300 people and operates five plants in the U.S. (two in Brazil, Indiana, and one each in Grand Haven, Michigan; Atlanta, Georgia; and Casa Grande, Arizona), one plant in Guangdong, China, and a small development lab in Manchester, England. The company also has operations in Malaysia through a joint venture.
PPG Industries, Inc. manufactures and distributes coatings, specialty materials, and glass products. The company’s Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; sealants, coatings, maintenance cleaners, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor for specialty applications; and chemical administration services.
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