On Thursday, Republic Airways Holdings Inc. (NASDAQ:RJET)’s shares declined -15.78% to $3.79.
Republic Airways Holdings Inc. (RJET) stated financial results for the second quarter of 2015.
Republic’s pre-tax income for the second quarter of 2015 was $9.1 million, contrast to $33.3 million for the preceding year’s second quarter. Republic’s net income for the second quarter of 2015 was $4.3 million, or $0.08 per diluted share contrast to preceding year net income of $20.1 million or $0.38 per diluted share. The effective tax rate of 52.7% for the quarter was higher than the normalized tax rate, primarily due to the impact of miscellaneous non-deductible expenses.
The second quarter 2015 financial results were negatively influenced by a noteworthy reduction in operational reliability. The Company’s controllable completion factor and operating revenues were significantly lower than predictable due to a high number of pilot related cancellations as a result of the growing national pilot labor shortage and our on-going labor dispute with International Brotherhood of Teamsters (IBT).
The second quarter results were also negatively influenced by fleet transition costs and idled aircraft costs totaling $10.8 million associated with our removal of E190 and Q400 aircraft and surplus E145 aircraft.
Republic Airways Holdings Inc., through its auxiliaries, provides planned passenger services. The company offers planned passenger service on about 1,229 flights daily to about 101 cities in the U.S. and Canada. It provides fixed-fee regional airline services under United Express, Delta Connection, or US Airways Express/American Eagle. As of December 31, 2014, the company operated a combined fleet of about 244 aircraft.
TTM Technologies, Inc. (NASDAQ:TTMI)’s shares dropped -9.07% to $8.22.
Stifel analyst Matthew Sheerin downgraded the rating on TTM Technologies, Inc. (TTMI) from Buy to Hold. The analyst believes that the successful integration of Viasystems Group, Inc. (NASDAQ: VIAS) is already priced into the stock.
The rating on the company had been upgraded in April 2014 after TTM Technologies successfully ramped new product lines for Apple Inc. (NASDAQ: AAPL) in 2H14, which led to margin expansion and revenue growth for the former company. TTM Technologies also successfully trimmed its portfolio and implemented cost cutting initiatives, while also concluding the Viasystems acquisition.
The company has been able to achieve cost savings worth about $55 million, most of which was driven by overhead reduction, while the rest was contributed by operating plant efficiencies. The analyst anticipates further cost saving to be gradual, with most of the benefits coming in during 1HF16. However, the analyst also anticipates incremental expenses due to the recent loan.
TTM Technologies, Inc., together with its auxiliaries, provides various printed circuit board (PCB) products and backplane assemblies worldwide. The company offers high density interconnect, conventional, flexible, and rigid-flex PCBs, in addition to backplane assemblies and IC substrates. It also offers various services, such as design for manufacturability support during new product introduction stages; PCB layout design; simulation and testing services; quick turnaround production; and drilling and routing services.
At the end of Thursday’s trade, Capital One Financial Corp. (NYSE:COF)‘s shares dipped -0.41% to $81.13.
Capital One Financial Corporation (COF) declared net income for the second quarter of 2015 of $863 million, or $1.50 per diluted common share, contrast to the first quarter of 2015 with net income of $1.2 billion, or $2.00 per diluted common share, and the second quarter of 2014 with net income of $1.2 billion, or $2.04 per diluted common share. Net income for the second quarter of 2015, adjusted for the impact of restructuring charges of $147 million and a build in the U.K. PPI reserve of $78 million, was $1.0 billion or $1.78 per diluted common share.
Second Quarter 2015 Income Statement Summary:
- Total net revenue remained flat at $5.7 billion, counting ($37) million of contra-revenue from a build in the U.K. PPI reserve.
- Total non-interest expense raised 8 percent to $3.3 billion:
- 3 percent enhance in marketing.
- 10 percent enhance in operating expense, counting $147 million in restructuring charges and a build of $41 million in the U.K. PPI reserve.
Pre-provision earnings reduced 9 percent to $2.4 billion.
Provision for credit losses raised 21 percent to $1.1 billion.
Mortgage representation & warranty benefit of $36 million, counting $27 million ($17 million net of tax) in suspended operations.
Efficiency ratio of 58.30 percent; Efficiency ratio not taking into account restructuring charges and a build in the U.K. PPI reserve of 54.63 percent.
Capital One Financial Corporation operates as the bank holding company for the Capital One Bank (USA), National Association (COBNA); and Capital One, National Association (CONA), which provide various financial products and services in the United States, the United Kingdom, and Canada. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking.
Lamar Advertising Co (NASDAQ:LAMR), ended its Thursday’s trading session with -10.71% loss, and closed at $54.33.
Lamar Advertising Company (LAMR), a leading owner and operator of outdoor advertising and logo sign displays, declares the Company’s operating results for the second quarter ended June 30, 2015.
Second Quarter Results
Lamar stated net revenues of $344.2 million for the second quarter of 2015 as compared to $330.4 million for the second quarter of 2014, a 4.2% enhance. Operating income for the second quarter of 2015 was $99.3 million as contrast to $73.0 million for the same period in 2014. Lamar recognized net income of $59.4 million for the second quarter of 2015 contrast to net income of $15.4 million for same period in 2014. Net income per basic and diluted share was $0.61 per share and $0.16 per share for the three months ended June 30, 2015 and 2014, respectively.
Adjusted EBITDA for the second quarter of 2015 was $155.4 million as compared to $149.7 million for the second quarter of 2014, a 3.8% enhance.
Free Cash Flow for the second quarter of 2015 was $101.2 million as contrast to $85.3 million for the same period in 2014, an 18.7% enhance.
Lamar Advertising Company is a publicly owned equity real estate investment trust. The firm primarily engages in selling advertising space on billboards, buses, shelters, benches, and logo plates. Lamar Advertising Company was founded in 1902 and is headquartered in Baton Rouge, Louisiana.
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