On Thursday, Maxim Integrated Products Inc. (NASDAQ:MXIM)’s shares inclined 1.65% to $30.73.
Maxim Integrated Products, Inc. (MXIM) net revenue of $583 million for its fourth quarter of fiscal 2015 ended June 27, 2015, a 1% enhance from the $577 million revenue recorded in the preceding quarter, and a 9% decrease from the same quarter of last year.
Fiscal Year 2015 Fourth Quarter Results
Based on Generally Accepted Accounting Principles (GAAP), diluted earnings per share in the June quarter was $0.34. The results were affected by pre-tax special items which primarily compriseed of $46 million in charges related to restructuring activities, $22 million in charges related to acquisitions and $36 million in other income related to the gain on a divestiture. GAAP earnings per share, not taking into account special items was $0.43. An analysis of GAAP as compared to GAAP not taking into account special items is offered in the last table of this press release.
Cash Flow Items
At the end of the fourth quarter of fiscal 2015, total cash, cash equivalents and short term investments were $1.63 billion, an enhance of $159 million from the preceding quarter. Notable items comprised of:
- Cash flow from operations: $222 million
- Net capital additions: $13 million
- Dividends: $80 million ($0.28 per share)
- Stock repurchases: $36 million
Maxim Integrated Products, Inc. designs, develops, manufactures, and markets various linear and mixed-signal integrated circuits worldwide. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs. It primarily serves automotive, communications and data center, computing, consumer, and industrial markets.
ARM Holdings plc (ADR) (NASDAQ:ARMH)’s shares gained 4.87% to $47.60.
ARM Holdings plc (ADR) (ARMH) has signed an expansive long-term graphics technology agreement with Samsung to enable the creation of next generation devices capable of delivering even more compelling visual experiences. The subscription license covers ARM® Mali™ graphics processing units (GPUs) counting the Mali-T820/830/860, the recently declared Mali-T880 and all future Mali GPUs.
This long term contract with ARM allows Samsung to continue creating innovative products addressing a range of price and performance points to meet the evolving needs of multiple markets. Samsung is already utilizing ARM Mali technology in SoCs powering an impressive range of leading consumer products.
ARM Holdings plc, together with its auxiliaries, designs microprocessors, physical intellectual property (IP), and related technology and software. The company also sells development tools that enhance the performance of embedded applications. Its products comprise microprocessor cores that comprise of specific functions, such as video, graphics, and display technology IP; and physical IP components for the design and manufacture of integrated circuits, which comprise embedded memory, standard cell, and input/output components.
At the end of Thursday’s trade, Devon Energy Corp (NYSE:DVN)‘s shares surged 0.04% to $51.16.
Devon Energy Corp (DVN) declared that its board of directors declared a quarterly cash dividend on Devon’s common stock for the third quarter of 2015. The dividend is payable on Sept. 30, 2015, at a rate of $0.24 per share based on a record date of Sept. 15, 2015.
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs) in the United States and Canada. It holds interests in various properties located in Anadarko Basin, Barnett Shale, Eagle Ford, Mississippian-Woodford Trend, Permian Basin, and Rockies in the United States, in addition to in the Jackfish and Pike heavy oil projects located in Alberta, Canada. As of December 31, 2014, the company had 689 MMBoe of proved undeveloped reserves. It operates about 19,000 wells.
Hercules Offshore, Inc. (NASDAQ:HERO), ended its Thursday’s trading session with -11.04% loss, and closed at $0.145.
Hercules Offshore, Inc. (HERO) stated a net loss of $88.3 million, or $0.55 per diluted share, on revenue of $79.2 million for the second quarter 2015, contrast to net income of $6.6 million, or $0.04 per diluted share, on revenue of $243.0 million for the second quarter 2014. As outlined in the Reconciliation of GAAP to Non-GAAP Financial Measures, second quarter 2015 results comprise a pre-tax adjustment of $13.4 million related to retroactive dayrate concessions on the Hercules 261, 262 and 266, $10.6 million of costs related to financing and restructuring activities, a $3.6 million net loss related to asset sales, counting the sale of six cold stacked jackups and a $1.9 million charge related to the termination of our Credit Facility. These items resulted in a second quarter after-tax adjustment of $28.8 million, or $0.18 per diluted share. Second quarter 2014 results comprised of an after-tax gain of $17.9 million related to the sale of three cold stacked jackups in addition to a $4.8 million charge related to the early retirement of debt and issuance costs for a total net adjustment of $13.1 million, or $0.08 per diluted share.
Hercules Offshore, Inc., together with its auxiliaries, provides shallow-water drilling and marine services to the oil and natural gas exploration and production industry worldwide. The company operates through Domestic Offshore, International Offshore, and International Liftboats segments.
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