On Thursday, Shares of The Wendy’s Company (NASDAQ:WEN), gained 0.13% to $11.20.
The Wendy’s Company, stated unaudited results for the first quarter ended March 29, 2015.
First-quarter 2015 summary
- Same-restaurant sales raised 2.6 percent at North America Company-operated restaurants in the first quarter of 2015, while same-restaurant sales raised 3.4 percent at North America franchise-operated restaurants. Systemwide same-restaurant sales raised 3.2 percent during the first quarter of 2015. Higher sales at reimaged Image Activation restaurants contributed about 150 basis points to Company-operated same-restaurant sales results, primarily from raised customer counts.
- Merged revenues were $466.2 million in the first quarter of 2015, contrast to $523.2 million in the first quarter of 2014. The 10.9 percent decrease resulted from the ownership of 240 fewer Company-operated restaurants at the end of the 2015 first quarter contrast to the end of the 2013 fourth quarter, together with lower technical assistance fees attributable to a year-over-year reduction in the number of Company-operated restaurants sold. Partly offsetting this decrease were higher same-restaurant sales and raised rent and royalty revenue.
- North America Company-operated restaurant margin was 14.7 percent in the first quarter of 2015, contrast to 13.1 percent in the first quarter of 2014.
The Wendy’s Company, through its auxiliaries, owns and franchises Wendys restaurant system. The company is involved in operating, developing, and franchising a system of quick-service restaurants.
Shares of MannKind Corp. (NASDAQ:MNKD), declined -3.37% to $4.02, during its last trading session, hitting its lowest level.
MannKind Corporation, stated financial results for the first quarter ended March 31, 2015.
For the first quarter of 2015, total operating expenses were $21.7 million, a decline of 47.5% contrast to the similar quarter in 2014. Research and development expenses were $9.4 million, a decline of 64.2% contrast to the first quarter of 2014, reflecting the commercialization of Afrezza in the first quarter of 2015 and a reduction in non-cash stock compensation expense. General and administrative expenses were $10.5 million, a decline of 31.2% contrast to the first quarter of 2014, mainly reflecting lower non-cash stock compensation expenses.
For the quarter ended March 31, 2015, our portion of the loss sharing arrangement with Sanofi related to Afrezza was $12.4 million, which we financed by way of an advance under the loan facility with our partner. The amount outstanding under the Sanofi loan facility is now $15.4 million. During the three months ending on March 31, 2015, we recorded $7.1 million in Afrezza product shipments as deferred product sales from our partnership with Sanofi.
The net loss for the first quarter of 2015 was $30.7 million, or $0.08 per share based on 398.9 million weighted average shares outstanding, contrast with a net loss of $52.1 million, or $0.14 per share based on 368.8 million weighted average shares outstanding for the first quarter of 2014. The number of common shares outstanding at March 31, 2015 was 409.1 million.
MannKind Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic products for diabetes in the United States. Its lead product is AFREZZA inhalation powder, an insulin to control high blood sugar in adult patients with type 1 and type 2 diabetes. MannKind Corporation was founded in 1991 and is headquartered in Valencia, California.
At the end of Thursday’s trade, Shares of NRG Energy, Inc. (NYSE:NRG), gained 1.55% to $24.97.
NRG Energy, plans to present its First Quarter 2015 financial results in a conference call and webcast on Friday, May 8, 2015 at 9:30am Eastern.
NRG Energy, Inc., together with its auxiliaries, operates as a power company. The company provides electricity; system power, distributed generation, solar and wind products, backup generation, storage and distributed solar, demand response, energy efficiency, and on-site energy solutions; carbon administration and specialty services; and various energy services, such as operations, maintenance, technical, development, and asset administration services.
Finally, Energy XXI Ltd. (NASDAQ:EXXI), ended its last trade with -4.93% loss, and closed at $3.86.
Energy XXI, declared fiscal third-quarter 2015 results and offered an operations update on activities in the Gulf of Mexico.
During the fiscal third quarter, the company drilled and accomplished two wells. In addition, the company brought online two operated and one non-operated wells to production. Additionally, four recompletions were brought online in the quarter at the South Pass 78 field.
About 70% of the production optimization work in the West Delta area, counting water handling and compression equipment to optimize oil production in the field, has been accomplished. Additional water handling equipment at West Delta 73 (100% WI/ 83% NRI) has allowed the company to raise production to a record 7,000 BOE/d from the field. Additionally, compression equipment has added about 1,000 BOE/d at South Pass 49 (100% WI/ 83% NRI), and 1,600 BOE/d at West Delta 30 (100% WI/ 87% NRI).
The company is executing a low-risk recompletion program to address proved developed non-producing reserves at the South Pass 78 field (100% WI/ 83% NRI). A total of five wells have been reaccomplished since the program began in January. Net production from the field at the starting of the program was about 2,100 BOE/d, and is presently averaging just over 4,000 BOE/d.
The non-operated Highlander discovery (18% WI/ 13% NRI), located onshore in South Louisiana, began production on February 25, 2015, following production testing. The well has been restricted to about 24 million cubic feet per day because of limited processing facilities. The operator is presently developing additional processing facilities to accommodate higher flow rates, and installation is predictable by calendar year-end 2015.
Energy XXI (Bermuda) Limited is engaged in the acquisition, exploration, development, production, and operation of oil and natural gas properties onshore in Louisiana and Texas, and on the Gulf of Mexico.
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