On Tuesday, Medtronic PLC (NYSE:MDT)’s shares declined -0.30% to $77.39.
Medtronic plc (MDT) declared the launch of its Entrust(TM) delivery system in the United States. The new Entrust delivery system enables physicians to place Medtronic`s EverFlex(TM) self-expanding peripheral stent, while maintaining a low profile and providing the ease of a one-handed device.
The Entrust delivery system provides control and precision with its 5 F triaxial delivery system and its distinctive combination of features, counting 0.035″ guidewire compatibility, longer catheter lengths, and a broad stent matrix. The Entrust delivery system uses the EverFlex stent, which has been clinically proven to be safe and effective in treating long, complex and highly calcified lesions.
Medtronic plc manufactures and sells device-based medical therapies worldwide. The company’s Cardiac and Vascular Group segment offers pacemakers, implantable cardioverter defibrillators, implantable cardiac resynchronization therapy devices, AF products, diagnostics and monitoring devices, and remote monitoring and patient-centered software; and heart valves, percutaneous coronary intervention stent products, surgical valve replacement and repair products, endovascular stent grafts, and peripheral vascular intervention products.
Cree, Inc. (NASDAQ:CREE)’s shares dropped -2.48% to $25.20.
Cree, Inc. (: CREE), a market leader in LED lighting, recently declared revenue of $382 million for its fourth quarter of fiscal 2015, ended June 28, 2015. This represents a 12% decrease contrast to revenue of $436 million stated for the fourth quarter of fiscal 2014, and a 7% decrease contrast to the third quarter of fiscal 2015. GAAP net loss for the fourth quarter was $88 million, or $0.83 per diluted share, contrast to GAAP net income of $30 million, or $0.24 per diluted share, for the fourth quarter of fiscal 2014. On a non-GAAP basis, net loss for the fourth quarter of fiscal 2015 was $21 million, or $0.19 per diluted share, contrast to non-GAAP net income for the fourth quarter of fiscal 2014 of $51 million, or $0.42 per diluted share. During the fourth quarter of fiscal 2015, Cree recognized $84 million of costs related to the LED business restructuring that was declared on June 24, 2015. The restructuring charges comprised of $27 million of LED revenue reserves, $11 million of LED inventory reserves and $46 million of factory capacity and overhead cost reductions. The revenue and inventory reserves are comprised of in both the GAAP and non-GAAP results, while the capacity and overhead charges are comprised of in the GAAP results only.
For fiscal year 2015, Cree stated revenue of $1.63 billion, which represents a 1% decrease contrast to revenue of $1.65 billion for fiscal 2014. GAAP net loss was $64 million, or $0.57 per diluted share, contrast to $124 million of net income, or $1.01 per diluted share, for fiscal 2014. On a non-GAAP basis, net income for fiscal year 2015 was $72 million, or $0.64 per diluted share, contrast to $203 million, or $1.65 per diluted share, for fiscal 2014.
Cree, Inc. develops, manufactures, and sells lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, Taiwan, and internationally. The company’s LED Products segment provides blue and green LED chips that are used in various applications, counting video screens, gaming displays, function indicator lights and automotive backlighting, headlamps, and directional indicators; LED components comprising packaged LED products for lighting applications, and surface mount and through-hole packaged LED products for video, signage, general illumination, transportation, gaming, and specialty lighting applications; and silicon carbide (SiC) materials, which are used in manufacturing products for RF, power switching, gemstone, and other applications. Its Lighting Products segment offers LED and traditional lighting systems for use in settings, such as office and retail space, restaurants and hospitality, schools and universities, manufacturing, healthcare, airports, municipal, residential, street lighting, parking structures, and other applications.
At the end of Tuesday’s trade, Cyberark Software Ltd (NASDAQ:CYBR)‘s shares dipped -6.68% to $58.92.
CyberArk, (CYBR), the company that protects organizations from cyber attacks that have made their way inside the network perimeter, declared financial results for the second quarter ended June 30, 2015.
Financial Highlights for the Second Quarter Ended June 30, 2015
Revenue:
- Total revenue was $36.4 million, up 70% year-over-year contrast with the second quarter of 2014.
- License revenue was $22.3 million, up 100% contrast with the second quarter of 2014.
- Maintenance and Professional Services revenue was $14.1 million, up 38% from the second quarter of 2014.
Operating Income:
- GAAP operating income was $6.5 million for the quarter, up from $3.1 million in the second quarter of 2014.
- Non-GAAP operating income was $8.2 million for the quarter, up from $3.3 million in the second quarter of 2014.
CyberArk Software Ltd. develops, markets, and sells software-based IT security solutions that protect organizations from cyber attacks in the United States and internationally. The company offers privileged account security solution to secure, manage, and monitor privileged account access and activities.
World Acceptance Corp. (NASDAQ:WRLD), ended its Tuesday’s trading session with -34.36% loss, and closed at $34.00.
World Acceptance Corporation ( WRLD) stated financial results for its first fiscal quarter ended June 30, 2015.
Net income for the first quarter raised 4.8% to $23.6 million contrast with $22.6 million for the same quarter of the preceding year. Net income per diluted share raised 16.7% to $2.71 on 8.7 million average weighted shares outstanding in the first quarter of fiscal 2016 contrast with $2.32 on 9.7 million average weighted shares outstanding in the first quarter of fiscal 2015.
The Company did not repurchase any shares in the first quarter of fiscal 2016. However, the Company benefited from the 1.4 million shares repurchased during fiscal 2015. The preceding year repurchases resulted in a reduction to the Company’s weighted average diluted shares outstanding of 10.2% when comparing the two first quarter periods. Not taking into account unvested restricted shares, there were 8.6 million shares outstanding as of June 30, 2015.
Gross loans reduced to $1.15 billion as of June 30, 2015, a 1.2% decrease from the $1.16 billion of loans outstanding as of June 30, 2014. Gross loans in the US reduced 0.4% and gross loans in Mexico reduced 9.3% in US dollars due to an unfavorable move in exchange rates. Gross loans in Mexico raised 9.6% in Mexican pesos.
World Acceptance Corporation engages in small-loan consumer finance business. The company offers short-term small and medium-term larger installment loans, related credit insurance and ancillary products and services to individuals. It provides automobile club memberships to its borrowers; income tax return preparation and electronic filing services; and electronic products and appliances to its borrowers. In addition, the company markets and sells credit life, credit accident and health, credit property, and unemployment insurance in connection with its loans; and markets computer software and related services to financial services companies.
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