On Friday, Liberty Global plc - Class A Ordinary Shares(NASDAQ:LBTYA)’s shares inclined 0.32% to $56.03.
Liberty Global plc - Class A Ordinary Shares (LBTYA) declared that, following regulatory approval, it has consummated its formerly declared acquisition of 100% of the parent of Puerto Rico Cable Acquisition Company Inc., dba Choice Cable TV (“Choice”), the second largest cable and broadband services provider in Puerto Rico. The combination of Choice’s operations with those of Liberty Cablevision of Puerto Rico LLC (“LCPR”), which is 60% owned by Liberty Global and 40% owned by funds managed by Searchlight Capital Partners, L.P., creates the largest cable operator on the island with over one million homes passed1, serving about 750,000 revenue generating units (“RGUs)1 and generating over $390 million of annual revenue.
As formerly revealed, the purchase price of about $272.5 million before transaction costs and other adjustments represents a multiple of about 6 times our estimate of Choice’s 2015 full-year operating cash flow, as customarily defined by Liberty Global and adjusted for the projected annual impact of synergies following full integration. The transaction was largely funded through incremental debt borrowings of about $267.5 million at the combined Puerto Rican business, and equity contributions from Liberty Global and Searchlight of $10.2 million and $6.8 million, respectively.
Liberty Global’s 60% ownership interest in Choice will be attributed to the “LiLAC Group”, which will track the performance of Liberty Global’s operations in Latin America and the Caribbean.
Liberty Global plc, together with its auxiliaries, provides video, broadband Internet, fixed-line telephony, and mobile services in Europe, Chile, Puerto Rico, and internationally. The company offers various residential services, counting video services comprising basic and premium programming, which can be viewed on the television and Internet connected devices; electronic programming guide, high definition (HD) channels, digital video recorder (DVR), and HD DVR services; video-on-demand, set-top boxes, pay-per-view programming, and programming in three-dimensional format services, in addition to television applications that allow access to programming on laptops, smartphones, and tablets; and entertainment, sports, movies, documentaries, lifestyles, news, adult, children, and ethnic and foreign channels.
Vimicro International Corporation (ADR) (NASDAQ:VIMC)’s shares dropped -2.64% to $12.89.
Vimicro International Corporation (ADR) (VIMC) declared financial results for the first quarter ended March 31, 2015.
First-Quarter 2015 Results
Net revenue in the first quarter of 2015 was $19.2 million, as contrast to net revenue of $16.4 million in the year-ago quarter and $32.4 million in the fourth quarter of 2014. Surveillance revenues were $16.7 million in the first quarter, representing 86.9% of total net revenues and up 41.3% year over year. Gross profit in the first quarter was $7.7 million, as contrast with $5.5 million in the year-ago quarter and $13.6 million in the fourth quarter of 2014. The gross margin in the first quarter was 40.1%, as contrast to 33.7% in the year-ago quarter and 42.0% in the fourth quarter of 2014.
Operating expenses in the first quarter of 2015 were $7.6 million, as contrast to $8.6 million in the year-ago quarter and $8.5 million quarter over quarter. Research and development expenses were $1.9 million for the first quarter net of $3.1 million government grants applied (research and development expenses would have been $5.0 million without government grants for the quarter), as contrast to $3.9 million year over year and $2.2 million quarter over quarter. Sales and marketing expenses were $2.3 million for the first quarter, as contrast to $2.4 million year over year and $3.3 million quarter over quarter. General and administrative expenses were $3.4 million in the first quarter, as contrast to $2.4 million year over year and $3.0 million quarter over quarter. The enhance of general and administrative expenses was mainly due to bad debt expense of $0.4 million about recognized during the quarter.
Operating income was $0.2 million in the first quarter of 2015, as contrast to the operating loss of $3.1 million in the year-ago quarter and the operating income of $5.1 million quarter over quarter.
The equity in loss of an equity investee was $0.5 million in the first quarter of 2015, as contrast to the equity in profit of an equity investee of $0.4 million year over year and $0.9 million quarter over quarter.
Net income attributable to non-controlling interests was $1.5 million in the first quarter of 2015, as contrast to $0.1 million year over year and $4.4 million quarter over quarter.
Vimicro International Corporation, together with its auxiliaries, designs, develops, and markets semiconductor products with multimedia applications in Mainland China, Hong Kong, and the United States. The company operates through Video surveillance Solutions and Video Processor segments. It offers personal computers (PC), embedded notebook camera video processors, image sensors, and other products.
At the end of Friday’s trade, Vishay Intertechnology (NYSE:VSH)‘s shares dipped -0.24% to $12.40.
Vishay Intertechnology (VSH) introduced a new series of silicone-coated axial lead wirewound resistors. Providing superior short-term energy surge protection contrast with standard wirewound devices, Vishay Dale CW - High Energy series resistors can also be utilized in high-temperature operating conditions up to +350 °C.
CW - High Energy resistors provide higher overload and high surge energy protection than traditional wirewound resistors, and they exceed IEC 61000-4-5 (1.2 µs/50 µs) requirements for communication equipment, power supplies, metering and welding equipment, power tools, and appliances in a wide range of applications. The devices offer a rugged, completely welded construction for raised reliability, while their high-temperature silicone coating allows for operating temperature ranges of -65 °C to +250 °C (characteristic U) and -65 °C to +350 °C (characteristic V).
The compact resistors provide high power ratings from 3 W to 13 W at +25 °C and 2,000-hour load-life stability of less than ± 3 % at +25 °C. The devices offer resistances from 2 Ω to 938 kΩ, with tolerances of ± 5 % and ± 10 %, and TCR of ± 50 ppm/°C for resistance from 2.0 Ω to 9.9 Ω, and ± 30 ppm/°C for resistance of 10 Ω and above.
Vishay Intertechnology, Inc. manufactures and supplies discrete semiconductors and passive components in the United States, Europe, and Asia. The company operates in five segments: MOSFETs, Diodes, Optoelectronic Components, Resistors & Inductors, and Capacitors.
Trimble Navigation Limited (NASDAQ:TRMB), ended its Friday’s trading session with -0.61% loss, and closed at $22.96.
Trimble Navigation Limited (TRMB) declared the addition of a Supervisor app to its FieldMaster suite of mobile applications. The latest addition to the suite is designed to enable managers to stay efficient and effective on the go by empowering them to do more work in the field and manage their day-to-day operations remotely. With the FieldMaster Supervisor app, managers can leave the office and still have visibility into their fleet and mobile workers from their smartphone or tablet.
Trimble Navigation Limited provides technology solutions to enhance the work processes of office and mobile field professionals worldwide. The company’s Engineering and Construction segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; BIM software for design, construction, and maintenance; integrated site layout and measurement systems; application products; integrated workplace administration services software; capital program and facility administration solutions; and field based data collection systems and software, communications systems, and back-office software.
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