On Thursday, Shares of ARRIS Group, Inc. (NASDAQ:ARRS), gained 22.13% to $37.30, hitting its highest level.
ARRIS Group, and Pace plc. (PIC.L), jointly declared that they have agreed that ARRIS will acquire Pace for aggregate stock and cash consideration of US$2.1 billion (£1.4 billion). The acquisition is predictable to be accretive to ARRIS Non-GAAP earnings per share in the first 12 months following the acquisition.
Key benefits of the transaction:
- Accelerates growth strategy
- ~US$8B Pro forma revenues
- ~8,500 combined employees, globally based
- Provides large scale entry into satellite segment
- Enhances international presence
- Expands product portfolio across equipment, software, and services
- Financially compelling
- US$0.45 to US$0.55 accretive in the first 12 months after close to Non-GAAP EPS
- Reduces Non-GAAP tax rate to about 26% - 28%
- Noteworthy synergy opportunity
- Maintains capital structure flexibility.
ARRIS Group, Inc. provides media entertainment and data communications solutions in the United States and internationally. The company operates in two segments, Customer Premises Equipment and Network & Cloud.
Shares of Medidata Solutions, Inc. (NASDAQ:MDSO), surged 20.73% to $57.54, during its last trading session, hitting its highest level.
Medidata Solutions, declared its financial results for the first quarter of 2015.
First Quarter 2015 Results
- Total revenue for the first quarter of 2015 was $92.4 million, an enhance of $15.8 million, or 21%, contrast with $76.6 million in the first quarter of 2014. Subscription revenue was $78.7 million, an enhance of 23% contrast with the same period last year.
- GAAP operating income for the quarter was $3.5 million, contrast with $0.3 million in the first quarter of 2014. Non-GAAP operating income for the first quarter of 2015 raised to $17.7 million, up 41% contrast with $12.5 million a year ago.
- GAAP net income for the first quarter of 2015 was $0.2 million, or $0.00 per diluted share, contrast with a net loss of ($1.8) million, or ($0.03) per diluted share, in the first quarter of 2014. Adjusted non-GAAP net income1 for the first quarter of 2015 was $9.2 million, or $0.17 per diluted share, contrast with $5.9 million, or $0.11 per diluted share, in the first quarter of 2014. See the non-GAAP reconciliation comprised of in this release for full details of the non-GAAP adjustments.
- Total cash, cash equivalents and marketable securities were $465.8 million at the end of the first quarter of 2015, an enhance of $62.3 million, or 15%, contrast with $403.5 million at the end of the first quarter of 2014.
- Cash flow from operations was $16.9 million in the first quarter of 2015, contrast with ($6.3) million a year ago.
Medidata Solutions, Inc. provides cloud-based clinical development solutions for life sciences in the United States and internationally. The company offers applications and data analytics for clinical development.
At the end of Thursday’s trade, Shares of DURECT Corporation (NASDAQ:DRRX), jumped 17.35% to $2.57, hitting its highest level.
In conjunction with DURECT Corporation, first quarter 2015 financial results, the company invites interested parties to listen to the conference call that will be broadcast live over the internet on Thursday, April 30, 2015 at 4:30 pm Eastern Time (1:30 pm Pacific Time).
A live audio webcast of the presentation will be accessible by accessing DURECT’s homepage at http://www.durect.com and clicking “Investor Relations.”
DURECT Corporation, a specialty pharmaceutical company, focuses on the development of pharmaceuticals products based on its proprietary drug formulations and delivery platform technologies in the United States, Europe, Japan, and internationally.
Finally, Solar3D, Inc. (NASDAQ:SLTD), ended its last trade with 15.18% gain, and closed at $4.40.
Solar3D, commented on the strong momentum practiced thus far in 2015, resulting in a robust outlook for the balance of this year and beyond. To date, the Company has achieved major milestones, counting the completion of a $12.5 million equity capital raise, uplisting to the NASDAQ and the acquisition of MD Energy. The Company has also offered 2015 guidance for revenue ranging from $40 million to $45 million contrast to $20.2 million in 2014. Administration anticipates to generate positive EBITDA in 2015 and has earmarked a portion for continued strengthening of balance sheet in addition to overall financial metrics.
The NASDAQ listing and the $12.5 million in equity raised in March 2015 will enable Solar3D to move forward quickly on synergistic, accretive M&A opportunities. The $12.5 million in additional funding bolsters the Company’s cash position significantly, enabling administration to enhance the pool of potential acquisition candidates as it further pursues its growth strategy. With each new M&A transaction, the Company anticipates to grow and diversify revenue, improving its financial and balance sheet metrics.
Solar3D also strengthened its executive leadership and Board positions with the appointment of Tracy Welch as Chief Financial Officer, and Brigham Tomco as the newest member of its Board of Directors. Mr. Welch has held CFO and Treasurer roles in several large companies, counting multi-billion dollar energy companies KN Energy and Smith International. His experience in identifying, financing and integrating over 35 M&A transactions ranging from $10 million to $500 million makes him the ideal CFO for Solar3D. Mr. Tomco formerly served as the Chairman and Founder of Zylun Global, a private equity backed investment holding company. His experience also comprises positions with Ocean Road Advisors and Meyer Ventures, an $800+ million portfolio. These additions to the executive team and board bolster Company administration and corporate governance.
Solar3D, Inc. provides photo voltaic based power systems for the residential, commercial, and agricultural markets in the United States. It also designs, finances, integrates, and manages systems ranging in size from 2 kilowatt for residential loads to multi megawatt systems for larger commercial projects.
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