On Thursday, Shares of magicJack VocalTec Ltd (NASDAQ:CALL), gained 6.36% to $8.69.
magicJack VocalTec Ltd., declared financial results for the second quarter ended June 30, 2015.
Second Quarter 2015 Financial Highlights:
- Net revenues: Total net revenues for the second quarter of 2015 were $25.4 million. Net revenues from the sales of magicJack devices were $4.2 million and access rights renewal revenues were $16.5 million, and accounted for 65% of total net revenues. Prepaid minute revenues were $2.1 million and access and wholesale charges were $1.3 million during the quarter. Other revenue contributed the remaining $1.1 million of total net revenues during the second quarter of 2015.
- Operating income: GAAP operating income for the second quarter of 2015 was $6.4 million.
- Adjusted EBITDA: Adjusted EBITDA for the second quarter of 2015 was $10.1 million.
- Net income: GAAP net income for the second quarter of 2015 was $7.0 million or $0.39 GAAP diluted net income per share based on 17.7 million weighted-average diluted ordinary shares outstanding.
- Non-GAAP net income: Non-GAAP net income for the second quarter of 2015 was $6.8 million or $0.38 non-GAAP net income per share based on 17.7 million weighted-average diluted ordinary shares outstanding.
- Cash and free cash flow: As of June 30, 2015, magicJack VocalTec had cash and cash equivalents of $82.3 million and no debt. During the second quarter of 2015, the company generated $6.1 million in free cash flow.
magicJack VocalTec Ltd., together with its auxiliaries, operates as a cloud communications company that provides voice-over-Internet-Protocol (VoIP) services in the United States.
Shares of Marsh & McLennan Companies, Inc. (NYSE:MMC), declined -0.05% to $57.73, during its last trading session.
Marsh & McLennan Agency, declared that it has attained Tequesta Insurance Advisors, a leading personal, commercial, and employee benefits insurance provider in Florida. Terms of the transaction were not revealed.
With about $10 million in annual revenues and 50 employees, Tequesta adds additional property/casualty capabilities and personal lines expertise to MMA’ s Florida region. All of Tequesta’s employees are joining MMA and will continue to operate out of the agency’s Tequesta, Florida office.
“I’m delighted to welcome CEO Mark Kasten, President Geoff Mayfield and the rest of the Tequesta team to MMA,” said Shannon Alfonso, president of MMA’s Florida region. “With the addition of Tequesta, MMA now has more than 220 colleagues in eight offices throughout Florida providing risk, insurance, and benefit solutions to middle market companies and individuals in the state.”
Tequesta’s Mr. Mayfield said: “After 50 years in the insurance agency business, we are proud to join MMA. Combining forces will improve our ability to find solutions for our clients, ensure new opportunities for our associates, and expand the services we provide to our clients.”
Marsh & McLennan Companies, Inc., a professional services firm, provides advice and solutions primarily in the areas of risk, strategy, and people worldwide. It operates in two segments, Risk and Insurance Services; and Consulting.
At the end of Thursday’s trade, Shares of Owens-Illinois Inc (NYSE:OI), lost -1.65% to $21.50.
Owens-Illinois stated financial results for the second quarter ending June 30, 2015.
- Second quarter 2015 earnings from ongoing operations attributable to the Company were $0.26 per share (diluted). Not taking into account certain items administration considers not representative of ongoing operations, adjusted earnings were $0.60 per share, which was at the high end of administration guidance. This compares to second quarter 2014 earnings of $0.80 per share on a stated basis, and to $0.65 per share on a constant currency basis.1
- Volumes were down 1 percent on a global basis year-over-year, largely a result of lower beer shipments in Brazil. Shipments for all other regions combined were flat.
- As predictable, lower segment operating profit was partially offset by favorable non-operational items, counting pension, interest and tax. Segment operating profit declined $75 million; $39 million on a constant currency basis. In North America and Asia Pacific, segment operating profits were on par with the preceding year second quarter. As indicated in the quarter, lower beer shipments in Brazil, against record sales in the comparable period, led to lower financial performance in South America. Profit in Europe was adversely influenced by planned production downtime and lower selling prices.
- In May 2015, the Company declared its projected acquisition of Vitro, S.A.B. de C.V.`s food and beverage glass container business in an all-cash transaction valued at about $2.15 billion. Vitro is the largest supplier of glass containers in Mexico. The transaction, which is presently predictable to close in the second half of 2015, is projected to be accretive to cash flow and earnings per share in the first year after closing.
Owens-Illinois, Inc., through its auxiliaries, manufactures and sells glass container products to food and beverage manufacturers primarily in Europe, North America, South America, and the Asia Pacific.
Finally, Galena Biopharma Incv (NASDAQ:GALE), ended its last trade with 1.37% gain, and closed at $1.48.
Galena Biopharma, stated its financial results for the quarter ended June 30, 2015 and offered a business update.
FINANCIAL HIGHLIGHTS AND GUIDANCE
We recognize revenue from the sale of Abstral to wholesale pharmaceutical distributors, net of product-related discounts, allowances, product returns, rebates, chargebacks, and patient assistance benefits, as applicable. Because the launch of Zuplenz occurred in July, there is no revenue recorded for Zuplenz through Q2, 2015, and all revenue to date is from Abstral sales. Net revenue was $3.4 million in the second quarter of 2015, a 48% enhance contrast to $2.3 million stated for the same period in 2014. Net revenue was $6.1 million in the first half of 2015, a 36% enhance contrast to $4.5 million stated for the same period in 2014.
Operating loss for the second quarter of 2015 was $11.3 million, counting $0.6 million in stock based compensation, contrast to an operating loss of $15.8 million, counting $1.5 million in stock-based compensation for the same period last year. Operating loss for the first half of 2015 was $22.4 million, counting $1.3 million in stock based compensation, contrast to an operating loss of $27.6 million, counting $3.2 million in stock-based compensation for the same period in 2014. The decrease in net operating loss year-over-year is primarily the result of the completion of enrollment in our Phase 3 PRESENT trial for NeuVax, in addition to the decrease in stock based compensation and professional fees associated with ongoing legal proceedings.
Galena Biopharma, Inc., a biopharmaceutical company, focuses on developing and commercializing oncology therapeutics that address major unmet medical needs across cancer care.
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