On Thursday, Shares of Cliffs Natural Resources Inc. (NYSE:CLF), gained 9.80% to $5.94.
Cliffs Natural Resources, stated first-quarter results for the period ended March 31, 2015. Revenues were $574 million not considering the revised accounting treatment for North American Coal and the Canadian Entities. In addition, adjusted EBITDA1 was $94 million.
First-Quarter Merged Results
First-quarter 2015 merged revenues of $446 million reduced 28 percent from the preceding year’s first quarter revenues of $616 million. The 2015 and 2014 amounts each exclude the revenue contribution from North American Coal. Cost of goods sold reduced by 14 percent to $365 million contrast to $426 million stated in the first quarter of 2014. Similarly, the 2015 and 2014 amounts each exclude the amount attributable to North American Coal.
For the first quarter of 2015, Cliffs recorded net income from ongoing operations attributable to Cliffs’ common shareholders of $167 million, or $0.94 per diluted share. These results comprise the gain related to extinguishment of debt, in addition to income tax valuation allowances and other items. Not taking into account these items, Cliffs stated first-quarter adjusted net income2 from ongoing operations of $2 million, or $0.02 per diluted share.
Cliffs Natural Resources Inc. is a leading mining and natural resources company in the United States. The Company is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota.
At the end of Thursday’s trade, Shares of Ensco plc (NYSE:ESV), jumped 9.56% to $27.28.
Ensco, declared earnings per share raised to $1.38 in first quarter 2015 from $1.25 a year ago. Results from suspended operations were zero cents per share contrast to a loss of $0.01 per share in first quarter 2014. Earnings per share from ongoing operations raised to $1.38 in first quarter 2015 from $1.26 a year ago. Adjusted for $27 million, or $0.11 per share, of other expense to retire debt ahead of maturity, earnings per share from ongoing operations raised 18% to $1.49 from $1.26 in first quarter 2014.
During first quarter 2015, Ensco earned the #1 rating in total customer satisfaction for the fifth year in a row in the independent EnergyPoint Research survey. Ensco’s investments in new rig technology benefit customers. The Company recently delivered ENSCO DS-9, an ultra-deepwater drillship contracted for a three-year term in the U.S. Gulf of Mexico, and ENSCO 110, a premium jackup.
Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. The company operates through three segments: Floaters, Jackups, and Other. The company owns and operates offshore drilling rig fleet of 70 rigs, counting 10 drillships, 13 semisubmersible rigs, 5 moored semisubmersible rigs, and 42 jackup rigs located in North and South America, the Middle East and Africa, the Asia Pacific rim, Europe and the Mediterranean, and Brazil.
WuXi PharmaTech (Cayman) Inc. (NYSE:WX), ended its last trade with 9.29% gain, and closed at $43.17, hitting its highest level.
WuXi Biologics, a wholly owned partner of Wuxi PharmaTech, declared that construction has begun on a new $150 million biologics manufacturing facility in Wuxi city.
When complete, this new facility will be the largest mammalian cell culture manufacturing facility using disposable bioreactors in the world. It will also be the largest biologics manufacturing facility of any kind in China. This added capacity will support WuXi’s strong biologics manufacturing pipeline in the near term and enable WuXi to maintain its position as the premier biologics manufacturer in China in addition to a leading player worldwide.
The new facility to be accomplished by January 2017 will house fourteen 2000L disposable bioreactors for fed-batch cell culture and two 1000L bioreactors for perfusion runs. The facility will also be built to run advanced continuous or semi-continuous manufacturing processes in addition to traditional fed-batch and perfusion modes.
Wuxi PharmaTech (Cayman) Inc. operates as a pharmaceutical, biotechnology, and medical device research and development services company in China and the United States. It operates through two segments, Laboratory Services and Manufacturing Services.
Finally, AVG Technologies N.V. (NYSE:AVG), closed at $23.92, with 9.17% gain, hitting its highest level.
AVG Technologies, stated results for the first quarter ended March 31, 2015.
Key highlights
- Subscription revenue grew 21 percent to $81.6 million
- Total monthly active users surpassed 200 million, with mobile users growing 29 percent over last year to 104 million
- Q1 revenues raised 10 percent over the same period last year; adjusting for foreign exchange movements, Q1 revenues grew over 12 percent.
First quarter 2015 financial results
Revenue for the first quarter of 2015 was $102.8 million, contrast with $93.5 million in the first quarter of 2014. Non-GAAP net income for the first quarter of 2015 was $23.9 million, or $0.46 per diluted ordinary share. This compares with non-GAAP net income of $30.0 million, or $0.56 per diluted ordinary share for the same period of the preceding year.
GAAP net income for the first quarter of 2015 was $11.9 million, or $0.22 per diluted ordinary share. This compares with net income of $17.9 million, or $0.34 per diluted ordinary share in the preceding year’s first quarter.
Operating income was $19.8 million, contrast with $24.7 million for the first quarter of 2014. Operating cash flow was $22.2 million for quarter, contrast with $32.7 million for the first quarter last year. Non-GAAP free cash flow was $19.9 million for the quarter, contrast with $30.0 million for the same period in the preceding year.
AVG Technologies N.V. develops and sells online service solutions and Internet security software under the AVG brand name. It offers software and online services, such as security, PC optimization, online privacy, cloud-based desktop administration, mobile security, content filtering, remote monitoring, and other products on various desktop and mobile operating systems.
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