On Friday, Covenant Transportation Group, Inc. (NASDAQ:CVTI)’s shares declined -6.86% to $33.15.
Covenant Transportation Group, Inc. (CVTI) declared financial and operating results for the first quarter ended March 31, 2015.
Highlights for the quarter comprised of the following:
- Total revenue of $167.2 million, an enhance of 3.9% contrast with the first quarter of 2014.
- Freight revenue of $143.3 million (excludes revenue from fuel surcharges), an enhance of 13.5% contrast with the first quarter of 2014.
- Operating income of $10.0 million and an operating ratio of 93.0%, contrast with operating income of $0.4 million and an operating ratio of 99.7% in the first quarter of 2014. Operating ratio is defined as: total operating expenses minus fuel surcharge revenue, divided by freight revenue.
- Net income of $10.2 million, or $0.56 per diluted share, contrast with net loss of $1.4 million, or ($0.09) per diluted share in the first quarter of 2014, on a 22.7% enhance in weighted average diluted shares resulting primarily from the Company’s public offering of 3,036,000 common shares accomplished in November 2014.
Covenant Transportation Group, Inc., together with its auxiliaries, offers truckload transportation and brokerage services in the continental United States. It provides long haul, dedicated, temperature-controlled, and regional solo-driver services.
Hanesbrands Inc. (NYSE:HBI)’s shares dropped -6.82% to $32.22.
Hanesbrands Inc. (HBI) declared that acquisition benefits assisted drive record first-quarter financial results for the second successive year.
Net sales raised 14 percent to $1.2 billion in the quarter ended April 4, 2015, while adjusted operating profit not taking into account actions raised 16 percent to $133 million and adjusted EPS not taking into account actions raised 16 percent to $0.22. The record results reflect the benefits of the company’s multiyear acquisition strategy and continued improvement in base business operating margin.
Hanesbrands Inc., a consumer goods company, designs, manufactures, sources, and sells a range of basic apparels for men, women, and children in the United States. The company operates through four segments: Innerwear, Activewear, Direct to Consumer, and International.
At the end of Friday’s trade, Zogenix, Inc. (NASDAQ:ZGNX)‘s shares dipped -6.67% to $1.54.
Zogenix, Inc. (ZGNX) declared that dosing has begun in patients enrolled in its Relday(TM) multi-dose Phase 1b clinical study. Relday is a proprietary, long-acting, subcutaneously injected formulation of risperidone being investigated for the treatment of schizophrenia.
Relday has been designed to provide potentially noteworthy improvements over current long-acting injection treatment options for patients suffering from schizophrenia. In a Phase 1 single-dose clinical study in schizophrenic patients, Relday demonstrated the ability to achieve therapeutic plasma levels of risperidone on the first day of dosing, followed by a controlled release profile over the remaining four-week period.
Zogenix, Inc., a pharmaceutical company, develops and commercializes therapies for the treatment of central nervous system disorders in the United States. Its marketed product comprises Zohydro ER, an extended-release formulation of hydrocodone for the treatment of severe chronic pain.
Guaranty Bancorp (NASDAQ:GBNK), ended its Friday’s trading session with -6.64% loss, and closed at $15.74.
Guaranty Bancorp (GBNK) declared first quarter 2015 net income of $5.1 million or $0.24 per basic and diluted common share, an enhance of $1.5 million or $0.07 per basic and diluted common share as contrast to the first quarter 2014.
Paul W. Taylor, President and CEO stated that they practiced noteworthy improvement in their key operating metrics in the first quarter 2015 primarily due to continued loan and deposit growth and a planned decision to significantly lower our cost of funds by prepaying $90 million in FHLB term advances at the end of 2014. Return on average assets improved to 0.98% for the first quarter 2015 as contrast to 0.75% in the first quarter 2014. Their return on average equity rose to 9.81% as contrast to 7.43% in the same quarter 2014. Additionally, their net interest margin grew to 3.84% in the first quarter 2015 due to their lower funding costs and higher loan yields. they are also happy with the continued momentum they practiced in their loan portfolio despite the higher level of payoffs received during the quarter due to the solid Colorado economy. New loans and advances on existing commitments were $153.6 million during the first quarter 2015, reflecting the value clients place in having a locally based community bank partner.
Guaranty Bancorp operates as the bank holding company for Guaranty Bank and Trust Company that provides various banking products and services to consumers, and small to medium-sized businesses.
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