On Monday, in the course of current trade, Shares of Exact Sciences Corporation (NASDAQ:EXAS), surged 10.90%, and is now trading at $24.42.
Today, Exact Sciences declared its business and financial results for the quarter ending March 31, 2015, reporting that 11,000 Cologuard tests were accomplished and that the number of ordering physicians more than doubled, increasing from 4,100 at the end of 2014 to 8,300 in the first quarter of 2015.
The company expanded its team of sales professionals from 80 to 140 during the first quarter and also reached an exclusive co-promotion agreement with Ironwood Pharmaceuticals, Inc. The arrangement will bring Cologuard to even more physicians and their patients through Ironwood’s 160 sales professionals.
Exact Sciences also made steady progress securing coverage from commercial insurers during the first quarter. This comprised of positive medical policy coverage decisions from Anthem BlueCross BlueShield (37 million covered lives), Tufts Health Plan (1 million), CareFirst BlueCross BlueShield PPO (2 million) and Excellus BlueCross BlueShield of Western New York (1 million). The company also formally extended its partnership with the Mayo Foundation for Medical Education and Research by an additional five years and expanded its licensing agreement to comprise additional gastrointestinal conditions.
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing non-invasive colorectal cancer screening products. The company develops the Cologuard, a non-invasive stool-based DNA colorectal cancer screening test that is designed to detect pre-cancerous lesions or polyps, and each of the four stages of colorectal cancer.
During Morning trade, Shares of Dominion Resources, Inc. (NYSE:D), gained 0.75%, and is now trading at $72.24.
Today, Dominion Resources, stated unaudited net income attributable to DM of $11.8 million, or $0.19 per limited partner unit for the three months ended March 31, 2015. Adjusted earnings before interest, income taxes, depreciation and amortization (Adjusted EBITDA) was $11.8 million and distributable cash flow was $11.9 million for the quarter.
Dominion Midstream uses adjusted EBITDA and distributable cash flow as the primary performance measurement of its earnings and results for public communications with analysts and investors. Dominion Midstream also uses adjusted EBITDA and distributable cash flow internally for budgeting, reporting to the Board of Directors and other purposes. Dominion Midstream administration believes adjusted EBITDA and distributable cash flow provide a more meaningful representation of the company’s financial performance.
On April 1, the partnership attained Dominion Carolina Gas Transmission, LLC, from Dominion Resources, Inc. (NYSE:D), for about $495 million, subject to working capital adjustments. Dominion Midstream issued about $200 million of limited partnership units to Dominion and reached a two-year note with Dominion for the remaining $295 million in transaction consideration.
On April 22, the board of directors declared a quarterly distribution of $0.175 per unit, payable May 15, 2015, to unit holders of record at the close of business on May 5, 2015.
Dominion Resources, Inc. produces and transports energy in the United States. The company operates through three segments: Dominion Virginia Power (DVP), Dominion Generation, and Dominion Energy.
Shares of Gilead Sciences Inc. (NASDAQ:GILD), during its Monday’s current trading session gained 1.25%, and is now trading at $106.30.
Gilead Sciences, declared its results of operations for the first quarter ended March 31, 2015. The financial results that follow represent a year over year comparison of first quarter 2015 to the first quarter 2014. Total revenues were $7.6 billion in 2015 contrast to $5.0 billion in 2014. Product sales were $7.4 billion in 2015 contrast to $4.9 billion in 2014. Net income was $4.3 billion, or $2.76 per diluted share in 2015 contrast to $2.2 billion or $1.33 per diluted share in 2014. Non-GAAP net income, which excludes amounts related to acquisition, restructuring, stock-based compensation and other, was $4.6 billion, or $2.94 per diluted share in 2015 contrast to $2.5 billion or $1.48 per diluted share in 2014.
Total product sales for the first quarter of 2015 were $7.4 billion contrast to $4.9 billion for the first quarter of 2014. In the first quarter, product sales in the U.S. were $5.2 billion contrast to $3.6 billion for the first quarter of 2014, and in Europe, product sales for the first quarter of 2015 were $1.8 billion contrast to $1.0 billion for the same period in 2014.
Antiviral Product Sales
Antiviral product sales raised to $7.0 billion for the first quarter of 2015, up from $4.5 billion for the first quarter of 2014 primarily due to sales of Harvoni® (ledipasvir 90 mg/sofosbuvir 400 mg), which was approved in the U.S. and Europe in the fourth quarter of 2014, partially offset by a decrease in sales of Sovaldi® (sofosbuvir).
Other Product Sales
Other product sales, which comprise Letairis®, Ranexa® and AmBisome®, were $417 million for the first quarter of 2015 contrast to $362 million for the first quarter of 2014.
Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines in areas of unmet medical nee in North America, South America, Europe, and the Asia-Pacific.
Finally, Sysco Corporation (NYSE:SYY), lost -0.08% Monday.
Today, Sysco Corporation, declared financial results for its 13-week third fiscal quarter ended March 28, 2015. Financial comparisons presented below are contrast to the same period in the preceding year. Adjusted financial results exclude certain items that, in fiscal 2015, are primarily related to merger and integration expenses
Third Quarter Fiscal 2015 Highlights
- Sales raised 4.2% to $11.7 billion;
- Gross profit raised 3.1% to $2.1 billion; gross margin reduced 17 basis points to 17.52%;
- Adjusted operating income reduced 2.7% to $377 million;
- Operating income reduced 1.6% to $327 million;
- Adjusted diluted earnings per share (EPS) raised 5.3% to $0.40; and
- Diluted EPS reduced 3.2% to $0.30.
First 39 Weeks Fiscal 2015 Highlights
- Sales raised 6.0% to $36.3 billion;
- Gross profit raised 5.1% to $6.3 billion; gross margin reduced 15 basis points to 17.45%;
- Adjusted operating income raised 2.4% to $1.3 billion;
- Operating income reduced 4.7% to $1.1 billion;
- Adjusted diluted EPS raised 5.6% to $1.33; and
- Diluted EPS reduced 10.4% to $1.03.
Sysco Corporation, through its auxiliaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates in Broadline and SYGMA segments. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts.
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