During Friday’s current trade, CIT Group Inc. (NYSE:CIT)’s shares decline -0.06% to $47.39.
CIT Group Inc. (CIT) declared that CIT Corporate Finance, Healthcare offered a $29.5 million senior secured credit facility to Real Properties Health Facilities Corp. (RPHF), that will be used to consolidate existing real estate debt and for working capital purposes. RPHF operates 12 skilled nursing and assisted living facilities with about 1,000 accessible beds in Indiana, Kansas, Montana and Wisconsin. Lancaster Pollard, a specialty healthcare investment bank, advised RPHF as its placement agent for the financing. Financing was offered by CIT Bank, the U.S. commercial bank partner of CIT.
CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing and leasing products; and a suite of savings options in the United States. Its Transportation & International Finance segment offers leasing and financing solutions to operators and suppliers in the aviation and railcar industries. It offers aircraft leasing, lending, asset administration, and advisory services to airlines; and term loans, leases, pre-delivery financing, fractional share financing, and vendor/manufacturer financing for corporate and private owners of business jets.
iKang Healthcare Group Inc (ADR) (NASDAQ:KANG)‘s shares gain 1.95% to $20.95, during the current trading session Friday’s, hitting its highest level.
iKang Healthcare Group Inc (ADR) (KANG) declared its unaudited financial results for the fourth quarter and the fiscal year ended March 31, 2015 (the “fiscal fourth quarter of 2014” from January 1, 2015 to March 31, 2015, or the “Fiscal Year 2014,” from April 1, 2014 to March 31, 2015, respectively).
Fiscal Fourth Quarter Ended March 31, 2015 Financial Highlights
- Net revenues were US$42.4 million, an enhance of 43.5% year-over-year.
- Gross profit was US$8.0 million, an enhance of 35.4% year-over-year.
- Operating loss was US$13.0 million, an enhance in the loss of 78.0% year-over-year.
- Non-GAAP operating loss(1)was US$12.2 million, an enhance in the loss of 90.8% year-over-year.
- Non-GAAP EBITDA was loss of US$6.4 million, an enhance in the loss of 122% year-over-year.
- Net loss attributable to the Company was US$8.2 million, an enhance in the loss of 44.6% year-over-year.
Fiscal Year 2014 Ended March 31, 2015 Financial Highlights
- Net revenues were US$290.8 million, an enhance of 43.7% year-over-year.
- Gross profit was US$135.8 million, an enhance of 41.6% year-over-year.
- Operating income was US$41.0 million, an enhance of 23% year-over-year.
- Non-GAAP operating income(1)was US$50.2 million, an enhance of 46.4% year-over-year.
- Non-GAAP EBITDA was US$70.1 million, an enhance of 55.6% year-over-year.
- Net income attributable to the Company was US$27.1 million, an enhance of 25.5% year-over-year.
- Non-GAAP net income(2)was US$36.3 million, an enhance of 60.9% year-over-year.
- Basic and diluted earnings per ADS attributable to common shareholders were US$0.41 and US$0.40, respectively, as contrast to US$(0.49) and US$(0.49), respectively, for the fiscal year ended March 31, 2014.
iKang Healthcare Group, Inc., together with its auxiliaries, provides preventive healthcare solutions in the People’s Republic of China. The company offers a range of medical examinations, which comprise internal, gynecology, ophthalmology, ENT, dental, lab tests, and electrocardiogram, ultrasound, and X-ray examination items. It also provides value-added services at selected medical centers, such as disease screening focusing on cancer screening, cardiovascular disease screening, chronic disease screening, and functional medicine testing; dental care, counting oral health, pediatric dentistry, cosmetic dentistry, orthodontics, and dental implants; outpatient services comprising acupuncture, Chinese medicine, gynecology, internal medicine, obstetrics, ophthalmology, pediatrics, urology, and minor surgery; and on-site healthcare administration or clinical services. In addition, the company offers relaxation and recreation services.
In a mid-morning trade, Islet Sciences Inc (OTCMKTS:ISLT)‘s shares plunge -14.29% to $0.120.
Islet Sciences Inc (ISLT) reached an exclusive license agreement (the “License Agreement”) with Brighthaven Ventures, L.L.C., a North Carolina limited liability company (“BHV”). Following the License Agreement, the licenses granted thereunder were to become effective only if, on or before May 31, 2015 (the “Financing Date”), (i) the Company receives not less than $10,000,000 in additional equity or debt financing and (ii) the Company pays to BHV $5,000,000 as an upfront payment for the license.
On May 29, 2015, the Company and BHV reached an amendment to the License Agreement which extended the Financing Date from May 31, 2015 to June 15, 2015. All other provisions of the License Agreement remain in effect.
Islet Sciences, Inc., a biotechnology company, is engaged in the research, development, and commercialization of new medicines and technologies for the treatment of metabolic diseases and related indications covering unmet medical needs. The company offers ISLT-P, an implantable suspension of encapsulated insulin-producing porcine islet cells for the treatment of insulin-dependent diabetes; ISLT-2669, a novel lead IL-12 small molecule inhibitor selected for preclinical development for treatment of type 2 diabetes; and ISLT-LSF Analogs, a library of small molecule lisofylline analogs that block inflammatory actions of cytokines, which destroy insulin-producing beta cells for diabetes and diabetes-related complications.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), during its Friday’s current trading session -2.22% loss and closed at $4.18.
Arena Pharmaceuticals, Inc. (ARNA) declared that Steve Chalgren , Arena’s executive vice president of product administration and chief strategy officer, will speak at the CIMdata PLM Road Map conference for the High Tech Electronics Community, taking place June 16, 2015 at the Biltmore Hotel & Suites in Santa Clara, California .
Arena Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes novel drugs that target G protein-coupled receptors. The company offers BELVIQ, a drug used to treat chronic weight administration in adults. It is also developing a portfolio of programs in various therapeutic areas, counting cardiovascular, central nervous system, and metabolic diseases. Its products under development comprise Ralinepag, an agonist of the prostacyclin receptor intended for the treatment of vascular diseases, counting potentially pulmonary arterial hypertension that is in Phase II clinical trials.
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