On Wednesday, EZchip Semiconductor Ltd (NASDAQ:EZCH)’s shares declined -24.17% to $14.84.
EZchip Semiconductor Ltd (EZCH) declared its results for the first quarter ended March 31, 2015 and is updating on the status of NPS adoption by its major customers.
First Quarter 2015 Highlights:
First quarter revenues of $26.9 million
Gross margin reached 74.0% on a non-GAAP basis
Gross margin reached 34.2% on a GAAP basis, counting a one-time charge due to early repayment of $9.6 million to the Israeli Office of Chief Scientist (OCS)
Net income, on a non-GAAP basis, was $7.5 million
Net loss, on a GAAP basis, was $8.3 million (counting a one-time charge due to early repayment of $9.6 million to the OCS)
Operating cash flow of $7.7 million
Net cash at end of quarter was $184.1 million
EZchip Semiconductor Ltd., a fabless semiconductor company, develops and markets Ethernet network processors for networking equipment in Israel, China, Hong Kong, the Far East, Canada, the United States, Europe, and internationally. It offers various network processors, counting processing and classification engines, traffic managers, media access controllers, and various specialized hardware blocks that enable customers to design multi-port line cards.
Pedevco Corp (NYSEMKT:PED)’s shares dropped -22.54% to $0.550.
Pedevco Corp (PED) declared the pricing of its underwritten public offering of an aggregate of 5,600,000 shares of common stock at the price of $0.50 per share to the public (the “Offering”). The Company anticipates to receive gross proceeds of $2.8 million, before deducting underwriting discounts and estimated offering expenses, as a result of the Offering. The underwriters have also been granted a 45-day option to purchase up to 840,000 shares of common stock to cover over-allotments, if any.
The net proceeds to the Company from the Offering are predictable to be about $2.73 million after deduction of underwriting discounts and estimated offering expenses, assuming the underwriters exercise their full over-allotment option. Subject to customary conditions, the Offering is predictable to settle and close on May 18, 2015.
PEDEVCO Corp., doing business as Pacific Energy Development, engages in the acquisition, exploration, development, and production of oil and natural gas shale plays in the United States.
At the end of Wednesday’s trade, Ducommun Incorporated (NYSE:DCO)‘s shares dipped -19.91% to $24.50.
Ducommun Incorporated (DCO) stated results for its first quarter ended April 4, 2015.
First Quarter 2015 Recap
First quarter revenue was $172.9 million
Net loss was $2.0 million, or $0.18 per share
EBITDA for the quarter was $10.5 million
Made voluntary principal prepayment of $10.0 million on term loan during the quarter
First Quarter Results
Net revenue for the first quarter of 2015 was $172.9 million contrast to $179.8 million for the first quarter of 2014. The net revenue decrease year-over-year primarily reflects 22.4% lower revenue in the Company’s military and space end-use markets partially offset by 19.7% higher revenue in the Company’s commercial aerospace end-use markets and 7.8% higher revenue in the Company’s non-aerospace and defense (“non-A&D”) end-use markets.
Ducommun Incorporated provides engineering and manufacturing products and services primarily to the aerospace, defense, industrial, natural resources, medical, and other industries.
Torchlight Energy Resources Inc (NASDAQ:TRCH), ended its Wednesday’s trading session with -15.57% loss, and closed at $0.819.
Torchlight Energy Resources Inc (TRCH) declared that it is actively seeking to divest certain of its Hunton Assets located in Logan and Kingfisher Counties, Oklahoma.
Torchlight is actively marketing the Company’s non-operated Hunton assets to potential buyers. These assets comprise lease rights and current production, which are being marketed separately. Torchlight has been in talk about with interested parties and anticipates to have a buyer identified shortly. The proceeds from a sale of all or a portion of the assets will be used to satisfy obligations to the Company’s Series A Promissory Note holders.
Torchlight Energy Resources, Inc. engages in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States. As of December 31, 2014 it had interests in six oil and gas projects, counting the Marcelina Creek Field Development in Wilson County, Texas; the Coulter Field in Waller County, Texas; the Smokey Hills Prospect in McPherson County, Kansas; the Ring Energy Joint Venture in Southwest Kansas; the Hunton play in Central Oklahoma; and the Orogrande project in Hudspeth County, Texas.
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