On Thursday, AMETEK, Inc. (NYSE:AME)’s shares inclined 1.01% to $56.05.
AMETEK, Inc. (AME) declared its financial results for the three month period ended June 30, 2015.
AMETEK’s second quarter 2015 sales of $1.0 billion were up 1% over last year’s second quarter. Operating income raised 4% to a record $240.3 million and operating margins were up 50 basis points to 23.9%. Diluted earnings per share raised 5% to a record $0.64 per diluted share from the second quarter 2014.
Electronic Instruments Group (EIG)
In the second quarter of 2015, EIG sales raised 4% to $596.5 million. Operating income raised 8% to $164.0 million and operating margins were up 110 basis points to 27.5%.
AMETEK, Inc. manufactures electronic instruments and electromechanical devices worldwide. The company’s EIG segment provides advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, and factory automation markets; and instruments for the laboratory equipment, ultra precision manufacturing, medical, and test and measurement markets.
Great Plains Energy Incorporated (NYSE:GXP)’s shares dropped -0.19% to $26.88.
Eight electric utilities and energy companies recently declared an initiative to provide improved responses to major events affecting the electric transmission grid by giving transmission-owning entities access to domestically warehoused long lead-time critical equipment.
Associates of American Electric Power, Berkshire Hathaway Energy, Duke Energy, Edison International, Eversource Energy, Exelon, Great Plains Energy (GXP), and Southern Company have signed a memorandum of understanding to pursue development of Grid Assurance™, a limited liability company that anticipates to offer subscribers cost-effective solutions for enhancing grid resiliency and protecting customers from prolonged transmission outages.
As projected, Grid Assurance will own and provide subscribers with timely access to an inventory of emergency spare transmission equipment that can otherwise take months to acquire. Grid Assurance filed a petition with the Federal Energy Regulatory Commission (FERC) late yesterday seeking confirmation that this service can be part of a transmission-owning entity’s strategy to effectively address grid resiliency mandates. Grid Assurance will not be FERC regulated, but plans to charge cost-based subscription fees, similar to FERC-regulated transmission formula rates. Cost-based subscription fees are predictable to facilitate subscribers’ ability to recover expenses.
Great Plains Energy Incorporated, through its auxiliaries, generates, transmits, distributes, and sells electricity in the United States. It also provides regulated steam services in St. Joseph, Missouri. The company generates electricity using coal, nuclear, natural gas, oil, and wind resources. It has about 6,600 megawatts of generating capacity.
At the end of Thursday’s trade, Zebra Technologies Corp. (NASDAQ:ZBRA)‘s shares dipped -0.94% to $86.74.
Zebra Technologies Corporation (ZBRA) stated that net sales for the three months ended July 4, 2015, were $889.8 million, contrast with $288.4 million for the second quarter of 2014. The GAAP net loss for the second quarter was $76.3 million, or $1.50 per share, contrast with GAAP net income of $27.6 million, or $0.54 per diluted share, for the second quarter of 2014.
Non-GAAP Financial Results (unaudited)
For the second quarter of 2015, non-GAAP net income was $53.3 million, or $1.05 per share, contrast with $47.0 million, or $0.92 per diluted share, for the second quarter of 2014. Adjusted EBITDA for the second quarter of 2015 were $131.5 million, as compared to $67.0 million for the second quarter of 2014. The company’s calculation of non-GAAP results adjusts for certain items on a tax-effected basis, counting stock-based compensation expense, acquisition and integration costs, exit and restructuring costs, purchase accounting adjustments, amortization of intangible assets, and foreign exchange gains or losses. Please refer to the tables comprised of in this press release for reconciliations of GAAP to non-GAAP financial results.
Zebra Technologies Corporation, together with its auxiliaries, designs, manufactures, sells, and supports direct thermal and thermal transfer label printers, radio frequency identification (RFID) printer/encoders, dye sublimation card printers, real-time locating solutions, related accessories, and support software worldwide. It products are used principally in automatic identification (auto ID), data collection, and personal identification applications.
Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX), ended its Thursday’s trading session with -1.99% loss, and closed at $8.36.
Progenics Pharmaceuticals, Inc., (PGNX), declared results of operations for the second quarter and six months ended June 30, 2015.
Second quarter revenue totaled $1.9 million, up from $1.5 million in the second quarter of 2014, reflecting RELISTOR(R) (methylnaltrexone bromide) royalty income of $1.8 million contrast to $1.4 million in the corresponding period in 2014, based on net sales stated to Progenics by our commercialization partner, Valeant Pharmaceuticals International, Inc. The current quarter enhance in royalty revenue is primarily due to higher net sales of $11.9 million for the three months ended June 30, 2015, contrast to $9.1 million for the corresponding period in 2014. Partnership revenue for the second quarter remained unchanged at $0.1 million contrast to the corresponding period in 2014. Current year first half revenues were $2.2 million, down from $3.3 million in the first half of 2014, reflecting royalty income of $1.9 million contrast to $2.1 million and partnership revenue of $0.2 million contrast to $1.1 million in the corresponding period in 2014.
Progenics Pharmaceuticals, Inc. develops medicines for oncology in the United States and internationally. The company’s primary clinical-stage product candidates comprise prostate specific membrane antigen (PSMA) antibody-drug conjugate, which has accomplished Phase II testing in chemotherapy-practiced patients and is ongoing second cohort in chemotherapy-naïve patients for the treatment of prostate cancer; 1404, a radio-labeled small molecule that has accomplished Phase II testing, in addition to acts as an imaging agent to diagnose and detect prostate cancer; and Azedra, a radiotherapeutic product candidate, which is in Phase IIb registrational trial under special protocol assessment for the treatment of pheochromocytoma and paraganglioma.
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