On Friday, Shares of Merit Medical Systems, Inc. (NASDAQ:MMSI), gained 6.96% to $20.58.
Merit Medical Systems, declared sales of $129.6 million for the quarter ended March 31, 2015, an enhance of 9% over sales of $119.2 million for the quarter ended March 31, 2014. On a constant currency basis, sales for the quarter ended March 31, 2015 would have been up 11%.
Merit’s non-GAAP net income for the quarter ended March 31, 2015 was $7.9 million, up 47%, or $0.18 per share, contrast to net income of $5.4 million, or $0.12 per share, for the quarter ended March 31, 2014. Merit’s GAAP net income for the first quarter of 2015 was $5.2 million, up 83%, or $0.12 per share, contrast to net income of $2.8 million, or $0.07 per share, for the first quarter of 2014.
For the first quarter of 2015, contrast to the first quarter of 2014, catheter sales grew 17%; Endotek sales raised 11%; custom kit and tray sales rose 10%; BioSphere sales grew 9%; inflation device sales raised 8%; stand-alone device sales rose 7%; and Malvern sales fell 10%.
Non-GAAP gross margin was 44.9% of sales for the quarter ended March 31, 2015, contrast to 46.0% of sales for the quarter ended March 31, 2014. GAAP gross margin for the first quarter of 2015 was 42.7% of sales, contrast to 43.6% of sales for the first quarter of 2014. The decrease in gross margin for the first quarter of 2015 contrast to the first quarter of 2014 was primarily related to higher average fixed overhead unit costs resulting from lower production volumes and sales discounts offered to various international distributors in an effort to counter devaluation against the U.S. Dollar, both of which were partially offset by a favorable decline in Merit’s manufacturing operating costs and raw materials denominated in Euros as the U.S. Dollar strengthened against the Euro during the first quarter of 2015 contrast to the comparable period of 2014.
Merit Medical Systems, Inc. designs, develops, manufactures, and markets medical devices for interventional and diagnostic procedures worldwide. The company’s Cardiovascular segment offers cardiology and radiology devices for diagnosing and treating coronary arterial, peripheral vascular, and other non-vascular diseases; and embolotherapeutic products.
Shares of Virgin America Inc. (NASDAQ:VA), surged 6.52% to $32.36, during its last trading session.
Virgin America, will declare its First Quarter 2015 Financial Results on Thursday, April 30, 2015. The Company will hold a live webcast to talk about the results on Thursday, April 30, 2015 at 6.30 a.m. PT/9.30 a.m. ET. President and Chief Executive Officer, David Cush
Chief Financial Officer, Peter Hunt will present the webcast.
Virgin America Inc. provides planned air travel services. As of December 31, 2014, it offered services to 21 airports in the United States and Mexico with a fleet of about 53 Airbus single-aisle aircraft, counting of 10 Airbus A319s and 43 Airbus A320s.
At the end of Friday’s trade, Shares of Teck Resources Limited (NYSE:TCK), jumped 6.15% to $14.33.
On Friday, Teck Resources Limited, climbed in response to plans to reduce its expansion, which could ease a global oversupply.
Iron ore miners such as Vale (VALE) and BHP had committed to increasing production despite a worldwide glut, but BHP’s declaration has alleviated some concern that global production would outpace demand and worsen the oversupply. The news lifted mining stocks higher on Friday.
The benchmark, ore with 62 percent content at Qingdao, rose 5.5% to $57.81 a dry metric ton on Friday, the highest since March 16, according to Bloomberg.
Teck Resources Limited explores, develops, and produces natural resources in the Americas, the Asia Pacific, Europe, and Africa. Its principal products comprise copper, counting copper concentrates and cathode copper; steelmaking coal; and refined zinc and zinc concentrates.
Finally, Scorpio Bulkers Inc. (NYSE:SALT), ended its last trade with 5.98% gain, and closed at $2.48.
Scorpio Bulkers, declared that it has reached agreements to sell three Capesize newbuilding dry bulk vessels, a Kamsarmax newbuilding dry bulk vessel and three LR1 newbuilding product tankers for about $290 million in aggregate, and received financing on an Ultramax newbuilding dry bulk vessel for an amount of up to $17 million.
The Capesize vessels are presently being constructed in Romania, and have predictable delivery dates between the fourth quarter of 2015 and the second quarter of 2016. The Kamsarmax vessel is presently being constructed in China and has an predictable delivery date in the first quarter of 2016. The LR1 product tankers are presently being constructed in South Korea, two of which are planned for delivery during the second quarter of 2017 and one during the third quarter of 2017.
Under the terms of the existing $409.0 Million Facility, the Company has secured financing on an Ultramax newbuilding vessel due to the substitution capability created by the removal of the financing on one of the three above-mentioned Capesize vessels that the Company has agreed to sell. The Ultramax vessel is presently being constructed in Japan, and has an predictable delivery date in the third quarter of 2015.
Scorpio Bulkers Inc., together with its auxiliaries, engages in the marine transportation of dry bulk commodities. Its fleet transports a range of major and minor bulk commodities, counting ores, coal, grains, and fertilizers along worldwide shipping routes.
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