On Tuesday, Shares of Stryker Corporation (NYSE:SYK), jumped 1.46% to $94.71.
Stryker Corporation, stated operating results for the first quarter of 2015:
Sales Analysis
Merged net sales of $2.4 billion raised 3.2% in the quarter contrast to the preceding year. Net sales in the quarter grew by 7.1% due to raised unit volume and changes in product mix and 1.9% as a result of acquisitions. Net sales in the quarter were negatively influenced by 4.2% due to the unfavorable influence of foreign currency exchange rates and 1.6% due to changes in price. Not taking into account the influence of acquisitions, net sales in the quarter raised 5.6% in constant currency.
Orthopaedics net sales of $1.0 billion raised 2.4% in the quarter, as stated, and 7.5% in constant currency. Net sales grew by 9.6% due to raised unit volume and changes in product mix and 1.0% as a result of acquisitions. Net sales were negatively influenced by 5.1% due to the unfavorable influence of foreign currency exchange rates and 3.0% due to changes in price. Not taking into account the influence of acquisitions, net sales raised 6.5% in constant currency.
MedSurg net sales of $927 million raised 4.6% in the quarter, as stated, and 7.7% in constant currency. Net sales grew by 3.9% due to raised unit volume and changes in product mix, 3.5% as a result of acquisitions and 0.4% due to changes in price. Net sales were negatively influenced by 3.2% due to the unfavorable influence of foreign currency exchange rates. Not taking into account the influence of acquisitions, net sales raised 4.3% in constant currency.
Neurotechnology and Spine net sales of $429 million raised 2.1% in the quarter, as stated, and 6.6% in constant currency. Net sales grew by 8.2% due to raised unit volume and changes in product mix and 0.6% as a result of acquisitions. Net sales were negatively influenced by 4.5% due to the unfavorable influence of foreign currency exchange rates and 2.1% due to changes in price. Not taking into account the influence of acquisitions, net sales raised 6.0% in constant currency.
Stryker Corporation, together with its auxiliaries, operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine.
Shares of Echo Global Logistics, Inc. (NASDAQ:ECHO), gained 26.11% to $32.02, during its last trading session, hitting its highest level.
Echo Global Logistics, declared that it has reached a definitive contract to attain Command Transportation, LLC, one of the largest privately held truckload brokers and non-asset based transportation providers in the United States. Echo will attain all of the outstanding membership units of Command for about $420 million, subject to post-closing adjustments for working capital and cash. $25 million of the purchase price will be paid in the form of Echo common and restricted stock. Command had 2014 revenue of $561 million and ranked #8 on Transport Topics’ Top 25 Brokerages in 2015. Command is headquartered in Skokie, IL, with satellite locations in Houston, St. Louis, and Kansas City.
Echo has obtained commitments from Morgan Stanley, Credit Suisse and PNC of up to $500 million to fund the purchase price of the transaction and for general corporate purposes. Echo’s obligation to consummate the transaction is not subject to any condition related to the availability of financing.
By bringing together the strengths of Echo and Command, this transaction will create a leading provider of technology-enabled transportation administration solutions with improved scale in the TL market. In 2014, Echo and Command had combined revenue of $1,734 million. In addition, upon completion of the transaction, the combined company will have more than 1,680 sales representatives in 34 offices across the United States and an expansive nationwide carrier network of truckload carriers. The combined company will be able to offer greater capacity and a broader network to both transactional and Managed Transportation clients, in addition to a broader suite of services for both companies’ existing clients.
Echo Global Logistics, Inc. provides technology-enabled transportation and supply chain administration solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of motor, rail, and air freight transportation providers for the transportation and logistics needs.
At the end of Tuesday’s trade, Shares of Tile Shop Holdings, Inc. (NASDAQ:TTS), gained 18.23% to $14.85.
Tile Shop Holdings, declared results for its first quarter ended March 31, 2015.
Net sales grew 13.3% to $73.0 million for the quarter ended March 31, 2015 contrast with $64.4 million for the first quarter of 2014. The $8.6 million raise in sales was due to incremental net sales of $5.7 million from stores not comprised of in the comparable store base, while comparable store sales raised 4.5% or $2.9 million in the quarter.
Gross margin was 69.9% for the quarter contrast with 69.8% for the first quarter of 2014.
Selling, general and administrative costs for the first quarter were $43.8 million contrast with $38.0 million for the first quarter of 2014. The majority of the $5.8 million raise was driven by the costs associated with opening and operating new stores, as first quarter ending store count raised from 93 to 109, a 17.2% raise from the preceding year. Additional SG&A growth drivers comprised of raised advertising costs and variable compensation associated with raised sales.
The Company opened two new stores in the first quarter of 2015, each of which were in new markets (Tampa, FL and Altamonte Springs, FL). The Company now has 109 locations in 31 states.
Tile Shop Holdings, Inc. operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. It offers about 4,000 products, counting ceramic, porcelain, glass, and metal tiles; and marble, granite, quartz, sandstone, travertine, slate, and onyx tiles primarily under the Rush River and Fired Earth brand names.
Finally, Allegheny Technologies Inc. (NYSE:ATI), ended its last trade with 14.36% gain, and closed at $34.65.
Allegheny Technologies, stated first quarter 2015 sales of $1.13 billion and net income attributable to ATI of $10.0 million, or $0.09 per share. Results improved over the fourth quarter 2014, with higher sales to key end markets, and a 25% improvement in segment operating profit counting lower Hot-Rolling and Processing Facility (HRPF) start-up and Rowley titanium sponge facility Premium Quality (PQ) qualification costs. Fourth quarter 2014 net income attributable to ATI from ongoing operations was $1.4 million, or $0.01 per share, not taking into account an $18.5 million net of tax, or $0.17 per share, gain from postretirement benefit changes. Fourth quarter 2014 net income attributable to ATI from ongoing operations counting the gain from postretirement benefit changes was $19.9 million, or $0.18 per share. For the first quarter 2014, the net loss from ongoing operations attributable to ATI was $18.1 million, or $(0.17) per share, on sales of $987.3 million.
ATI first quarter sales improved over 7% contrast to the fourth quarter 2014. High Performance Materials & Components segment sales raised over 8% to $543 million, and Flat Rolled Products segment sales raised over 6% to $583 million, which was accomplished despite lower raw material surcharges.
ATI’s sales to key global markets represented 78% of ATI sales for 2015:
- Sales to the aerospace and defense markets were $408 million and represented 36% of ATI sales: 18% jet engine, 12% airframe, 6% defense.
- Sales to the oil and gas/chemical process industry market were $210 million and represented 19% of ATI sales: 12% oil & gas, 7% chemical process industry.
- Sales to the electrical energy market were $108 million and represented 10% of ATI sales.
- Sales to the automotive market, which is now a key global growth market for ATI, were $96 million and represented 8% of ATI sales.
- Sales to the medical market were $58 million and represented 5% of ATI sales.
- Direct international sales raised 10% to $454 million contrast to the fourth quarter 2014 and represented 40% of ATI’s first quarter 2015 sales.
- Sales of high-value products were almost 80% of ATI first quarter 2015 sales and raised over 9% contrast to the fourth quarter 2014.
Allegheny Technologies Incorporated produces and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials and Components; and Flat-Rolled Products.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
