On Thursday, Lannett Company, Inc. (NYSE:LCI)’s shares declined -12.07% to $53.04.
Lannett Company, Inc. (LCI) reported financial results for its fiscal 2015 third quarter ended March 31, 2015.
For the fiscal 2015 third quarter, net sales rose 24% to $99.4 million from $80.0 million in last year’s third quarter. Gross profit increased 35% to $75.6 million, or 76% of net sales, from $56.1 million, or 70% of net sales. Research and development (R&D) expenses decreased to $9.2 million from $10.6 million for the fiscal 2014 third quarter. Selling, general and administrative (SG&A) expenses were $12.2 million, compared with $9.6 million. Operating income grew 51% to $54.3 million from $36.0 million. Net income attributable to Lannett Company increased 58% to $36.2 million, or $0.97 per diluted share, from $23.0 million, or $0.63 per diluted share, for the prior year third quarter.
Lannett Company, Inc. develops, manufactures, packages, markets, and distributes generic versions of branded pharmaceutical products in the United States. It offers solid oral, extended release, topical, and oral solution finished dosage forms of drugs that address a range of therapeutic areas.
Paragon Offshore PLC (NYSE:PGN)’s shares dropped -11.96% to $1.62.
Value investors are culling through reports of energy and mining companies as well, looking for inspiration against the backdrop of oil and gold prices far from highs. In the energy space, finding the value for some is a result of looking at consensus estimates of future performance as contrast to current value, which highlights companies like Paragon Offshore PLC (PGN) or a technical setup for a beaten-down stock such as CHC Group Ltd. (HELI) for turnaround potential.
Paragon Offshore plans to report first-quarter earnings on Wednesday, May 13 after the market close.
Paragon Offshore plc, together with its auxiliaries, provides offshore drilling rigs. The company is involved in contracting its rigs, related equipment, and work crews to conduct oil and gas drilling and workover operations for its exploration and production customers on a day rate basis.
At the end of Thursday’s trade, xG Technology Inc (NASDAQ:XGTI)‘s shares dipped -11.20% to $0.317.
xG Technology Inc (XGTI) declared a Planned Technology Alliance Agreement with Drakontas, LLC (“Drakontas”) to cooperate in the marketing of each other’s respective solutions. Under the terms of the agreement, xG and Drakontas will make accessible integrated products that comprise xMax private mobile broadband network technology and Drakontas’ DragonForce mobile team partnership software application.
xG Technology, Inc. develops communications technologies for wireless networks worldwide. The company’s intellectual property is embedded in proprietary software algorithms designed to offer cognitive interference mitigation and spectrum access solutions to organizations in a various industries, counting national defense and rural broadband.
Ion Geophysical Corp (NYSE:IO), ended its Thursday’s trading session with -11.59% loss, and closed at $2.06.
Ion Geophysical Corp (IO) stated a first quarter 2015 net loss of $55.3 million, or $(0.34) per share, on revenues of $40.6 million, contrast to an adjusted net income of $6.4 million, or $0.04 per diluted share, on revenues of $144.7 million in first quarter 2014.
During the first quarter 2015, the Company initiated a further restructuring program, recording charges of about $4 million. A reconciliation of restructuring and special items to the first quarter 2015 and 2014 can be found in the financial tables of this press release.
ION Geophysical Corporation provides geoscience technology, services, and solutions for the oil and gas industry worldwide. It operates through four segments: Solutions, Systems, Software, and Ocean Bottom Services.
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.
