On Tuesday, Shares of Seventy Seven Energy Inc. (NYSE:SSE), gained 10.77% to $5.45.
Seventy Seven Energy, stated financial and operational results for the first quarter of 2015.
SSE stated total revenues of $429.8 million for the first quarter of 2015, a 13% decrease contrast to revenues of $494.9 million for the fourth quarter of 2014 and a 6% decrease contrast to adjusted revenues of $459.0 million for the first quarter of 2014. Adjusted EBITDA for the first quarter of 2015 was $84.9 million, a 22% decrease contrast to $108.5 million for the fourth quarter of 2014 and in line with $85.8 million for the first quarter of 2014.
Adjusted net loss, which excludes a non-recurring charge due to a change in depreciation estimate, impairments, losses on sales of property and equipment, and severance related costs, was ($21.6) million, or ($0.45) per fully diluted share. Net loss for the first quarter of 2015 was ($37.6) million, or ($0.78) per fully diluted share, contrast to net loss of ($9.4) million, or ($0.20) per fully diluted share, for the fourth quarter of 2014 and net loss of ($18.6) million, or ($0.40) per fully diluted share, for the first quarter of 2014.
Seventy Seven Energy Inc. provides oilfield services in the United States. The company operates in four segments: Drilling, Hydraulic Fracturing, Oilfield Rentals, and Oilfield Trucking. The Drilling segment offers land drilling and drilling-related services, counting directional drilling for the oil and natural gas exploration and development activities.
At the end of Tuesday’s trade, Shares of Good Times Restaurants Inc. (NASDAQ:GTIM), jumped 7.58% to $9.08, hitting its highest level.
Good Times Restaurants, declared that the underwriters of its formerly declared common stock offering have exercised in full their option to purchase an additional 363,105 shares of Good Times’ common stock to cover over-allotments. The public offering price of the shares is $8.15 per share.
Janney Montgomery Scott LLC and Stephens Inc. are acting as joint book-running managers and Dougherty & Company is acting as lead manager for the offering.
Good Times Restaurants, Inc., through its partner, Good Times Drive Thru Inc., develops, owns, operates, and franchises hamburger-oriented drive-through restaurants under the Good Times Burgers & Frozen Custard name in Colorado.
Kennametal Inc. (NYSE:KMT), ended its last trade with 6.28% gain, and closed at $38.41.
Kennametal, stated results for the fiscal third quarter 2015, with loss per diluted share (LPS) of $0.58, contrast with the preceding year quarter earnings per diluted share (EPS) of $0.64. Adjusted EPS were $0.46 in the current quarter contrast with $0.75 in the preceding year quarter.
The company generated $220 million in cash flow from operating activities for the nine months ended March 31, 2015, contrast with $153 million in the preceding year period. The enhance is due to improved working capital administration. Net capital expenditures were $76 million and $85 million for the same periods. The company realized free operating cash flow of $143 million contrast with $68 million for the same period last year.
Kennametal Inc. manufactures and supplies tooling, engineered components, and advanced materials consumed in production processes worldwide. The company operates in two segments, Industrial and Infrastructure.
Finally, Headwaters Incorporated (NYSE:HW), closed at $18.87, with 5.48% gain, hitting its highest level.
Headwaters Incorporated, declared results for its second quarter of fiscal 2015.
Second Quarter Summary
Headwaters’ second quarter 2015 merged revenue raised by 15% to $179.7 million from $156.5 million for the second quarter of 2014 and gross profit raised by 22% to $47.1 million, contrast to $38.6 million in 2014. Operating income improved from $0.5 million in 2014 to $8.2 million in 2015, and Adjusted EBITDA raised by $6.3 million to $24.1 million, or 35% over 2014.
After making adjustments consistent with Adjusted EBITDA and for the non-routine incremental interest expense related to early debt repayments, second quarter adjusted income from ongoing operations was $4.5 million, or $0.06 per diluted share in 2015, contrast to a loss of $(2.7) million, or $(0.04) per diluted share in 2014. On an unadjusted basis, counting $24.8 million of interest expense related to early debt repayments, the loss from ongoing operations was $(25.0) million, or $(0.34) per diluted share for the second quarter of 2015, contrast to a loss of $(9.5) million, or $(0.13) per diluted share, for the second quarter of 2014. Net loss counting suspended operations was $(25.2) million, or $(0.34) per diluted share, for the second quarter of 2015, contrast to a net loss of $(10.1) million, or $(0.14) per diluted share, for the second quarter of 2014. The majority of the 2015 quarterly loss was attributable to the incremental interest expense associated with early debt repayments.
Headwaters Incorporated, a building products company, provides products and services in the light and heavy building materials sectors primarily in the United States and Canada. It operates through three segments: Light Building Products, Heavy Construction Materials, and Energy Technology.
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