On Friday, Innospec Inc. (NASDAQ:IOSP)’s shares inclined 6.04% to $48.98.
Innospec Inc. (IOSP) declared its financial results for the second quarter ended June 30, 2015.
Total net sales for the quarter were $242.9 million, up 10 percent from the $221.3 million stated in the corresponding quarter last year. Net income was $34.5 million, or $1.40 per diluted share, contrast to $18.5 million, or $0.75 per diluted share, recorded a year ago. EBITDA (earnings before interest, taxes, depreciation, amortization, and fair value adjustments) for the quarter was $34.7 million, a 10 percent enhance from $31.6 million in 2014’s second quarter.
Results for the quarter after-tax comprise an adjustment to the fair value of contingent consideration of $16.1 million, or $0.65 per diluted share; foreign currency exchange losses of $3.5 million, or $0.14 per diluted share; and amortization of attained intangible assets of $3.2 million, or $0.13 per diluted share. Not taking into account these items, adjusted non-GAAP EPS was $1.02 per diluted share, contrast to $0.88 per diluted share a year ago. Innospec closed the quarter with a net debt position of $71.1 million, reduced from $90.4 million at the end of the first quarter 2015. Cash generation for the quarter was strong, with operating cash inflows of $36.9 million, before capital expenditures during the quarter of $6.3 million.
Innospec Inc. develops, manufactures, blends, markets, and supplies fuel additives, oilfield chemicals, and other specialty chemicals to oil and gas exploration and production companies, oil refineries, personal care and fragrance companies, and other chemical and industrial companies worldwide.
Omeros Corporation (NASDAQ:OMER)’s shares gained 2.24% to $20.96.
Omeros Corporation (OMER) declared additional positive data in the company’s Phase 2 clinical trial of OMS721 for the treatment of thrombotic microangiopathies (TMAs). TMAs are a family of rare, debilitating and life-threatening disorders characterized by excessive thrombi (clots) – aggregations of platelets – in the microcirculation of the body’s organs, most commonly the kidney and brain. OMS721 is Omeros’ lead human monoclonal antibody in its mannan-binding lectin-associated serine protease-2 (MASP-2) program for the treatment of TMAs, counting atypical hemolytic uremic syndrome (aHUS).
The Phase 2 trial is designed to enroll primarily aHUS patients but can also enroll patients with thrombotic thrombocytopenic purpura (TTP) and hematopoietic stem cell transplant (HSCT)-related TMA. The trial has fully enrolled the first and second cohorts and is presently concluding the third and final planned cohort of its dose-ranging stage. In each three-patient cohort, OMS721 is dosed for four weeks. Data from the first (low-dose) cohort were released on February 19, 2015. Recently the company is releasing data from its second (mid-dose) cohort and data to date from its third (high-dose) cohort.
Three patients were treated in the second or mid-dose cohort, two of whom have aHUS and one with TTP. Both patients with aHUS were on renal dialysis preceding to and at the time of study enrollment. Based on the positive data from the mid-dose cohort, the high-dose cohort was initiated and an aHUS patient has already accomplished the study treatment period. No patient with HSCT-related TMA has yet accomplished dosing with OMS721. The data referenced for all patients comprise measures to one week following the last dose.
Omeros Corporation, a biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting inflammation, coagulopathies, and disorders of the central nervous system. It markets Omidria for use during cataract surgery or intraocular lens, or replacement surgery.
At the end of Friday’s trade, Targa Resources Partners LP (NYSE:NGLS)‘s shares dipped -5.15% to $27.99.
Targa Resources Partners LP (NGLS) and Targa Resources Corp. (TRGP) stated second quarter results.
Targa Resources Partners — Second Quarter 2015 Financial Results
Second quarter 2015 net income attributable to Targa Resources Partners was $45.8 million contrast to $108.8 million for the second quarter of 2014. Net income per diluted limited partner unit was $0.01 in the second quarter of 2015 contrast to $0.64 for the second quarter of 2014. The Partnership stated earnings before interest, income taxes, depreciation and amortization and other non-cash items (“Adjusted EBITDA”) of $303.2 million for the second quarter of 2015 contrast to $228.7 million for the second quarter of 2014. The Partnership’s distributable cash flow for the second quarter of 2015 of $218.4 million corresponds to distribution coverage of about 1.1 times the $200.4 million in total distributions to be paid on August 14, 2015 (see the section of this release entitled “Targa Resources Partners - Non-GAAP Financial Measures” for a talk aboution of Adjusted EBITDA, gross margin, operating margin and distributable cash flow, and reconciliations of such measures to their most directly comparable financial measures calculated and presented in accordance with U.S. generally accepted accounting principles (“GAAP”)).
Targa Resources Partners LP owns, operates, acquires, and develops midstream energy assets in the United States. The company’s Gathering and processing division is involved in gathering, compressing, dehydrating, treating, conditioning, processing, and marketing natural gas; and gathering crude oil.
Lions Gate Entertainment Corp. (USA) (NYSE:LGF), ended its Friday’s trading session with -1.87% loss, and closed at $36.75.
In a move bringing cutting edge entertainment technology to one of its most exciting new brands, Lionsgate (LGF), a premier next generation global content leader, declared recently that it is partnering with leading game developer and publisher Starbreeze (STAR:OMX) to launch a first-person shooter game in virtual reality (VR) based on Lionsgate`s box office hit John Wick. Best in class virtual reality studio and distributor WEVR, the company responsible for theBlu: Encounter, which was used to introduce the HTC Vive VR platform earlier this year, will transport players with the creation of a fully immersive VR experience that will introduce the game. Grab, the acclaimed development team with extensive mobile games and VR experience, will spearhead the development. Starbreeze will be publishing the product across multiple VR platforms.
The companies will team to create a standalone, first-person shooter game based on the world and characters of the John Wick films and centered around the infamous Continental Hotel. In addition, Starbreeze will further integrate the John Wick storyline into its wildly popular Payday game, which has over nine million players worldwide, facilitating cross promotion and integration of the two games. John Wick producer Basil Iwanyk of Thunder Road Pictures and the movie`s production team will be collaborating closely with the WEVR and Grab teams for the development of the VR game and experience.
Lions Gate Entertainment Corp. engages in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution, channel platforms, and international distribution and sales activities. The company operates through two segments, Motion Pictures and Television Production. The Motion Pictures segment is involved in the development and production of feature films; acquisition of North American and worldwide distribution rights; North American theatrical, home entertainment, and television distribution of feature films produced and attained; and worldwide licensing of distribution rights to feature films produced and attained.
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