On Tuesday, Shares of BlackBerry Ltd (NASDAQ:BBRY), gained 1.65% to $7.40.
BlackBerry Limited declared that it has reached a definitive agreement to acquire Good Technology for $425 million in cash.
The acquisition of Good is aligned with BlackBerry’s strategy to offer customers the most complete, end-to-end solution that secures the entire mobile enterprise, across all platforms. Improved by Good, BlackBerry will expand its ability to offer a unified, secure mobility platform with applications for any mobile device on any operating system – supported with security that has been certified by governments around the world embedded in every component of the mobility infrastructure.
BlackBerry Limited provides wireless communications solutions worldwide. The company offers BlackBerry wireless solutions, which comprise the sale of BlackBerry handheld devices; and the provision of data communication, and compression and security infrastructure services enabling BlackBerry handheld wireless devices to send and receive wireless messages and data.
Shares of Joy Global Inc. (NYSE:JOY), inclined 1.66% to $18.94, during its last trading session.
Joy Global Inc., stated third quarter fiscal 2015 results.
Third Quarter Summary
- Bookings $635 million, down 31 percent from a year ago
- Service bookings $537 million, down 16 percent from a year ago
- Net sales $792 million, down 10 percent from a year ago
- Earnings per diluted share $0.46, contrast to $0.71 a year ago
- Not Taking Into Account excess purchase accounting, acquisition costs, restructuring charges and pension items of $14 million, adjusted earnings per diluted share of $0.54, contrast to $0.80 a year ago
- Net cash offered by operations $116 million, up 27% from a year ago
Third Quarter Operating Results
“Our financial results for the third quarter reflect an end market environment that is one of the most challenging seen in decades,” said Ted Doheny, President, and Chief Executive Officer. “The further step down in commodity prices resulted in projects getting delayed and a lock down on cash from our customers which influenced our service business. We are accelerating our facility optimization plans and taking additional cost reduction actions to align with lower market demand.
Joy Global Inc. manufactures and services mining equipment for the extraction of coal, copper, iron ore, oil sands, gold, and other minerals. It operates in two segments, Underground Mining Machinery and Surface Mining Equipment.
Finally, Vince Holding Corp (NYSE:VNCE), ended its last trade with -5.34% loss, and closed at $4.96.
Vince Holding Corp., stated unaudited results for the second quarter of fiscal 2015.
For the second quarter ended August 1, 2015:
- Net sales reduced 10.4% to $80.0 million from $89.3 million in the second quarter of fiscal 2014. The wholesale segment reduced 21.6% to $58.3 million and the direct-to-consumer segment raised 44.7% to $21.7 million over the second quarter of fiscal 2014. Comparable store sales raised 13.4%, counting e-commerce sales.
- Gross profit was $20.8 million, or 26.0% of net sales, which comprises a $14.4 million charge, associated with the write-down of excess inventory and aged product to predictable net realizable value. Not Taking Into Account the inventory write-down, gross profit was $35.2 million, or 44.0% of net sales. This compares to gross profit of $44.0 million, or 49.3% of net sales in the second quarter of fiscal 2014.
- Selling, general, and administrative expenses were $27.3 million or 34.2% of sales. This comprised $2.9 million of net administration transition costs related to executive severance and related costs. Not Taking Into Account these costs, selling, general and administrative costs were $24.5 million or 30.6% of net sales in the quarter. In the second quarter of fiscal 2014, selling, general, and administrative costs were $24.1 million or 27.0% of sales, which comprised costs related to the Company’s July 2014 secondary offering. Not Taking into Account the Secondary Offering costs, selling, general and administrative expenses were $23.5 million, or 26.3% as a percent of sales in the second quarter of fiscal 2014.
- Operating loss was $(6.5) million, contrast to operating income of $19.9 million for the second quarter of fiscal 2014. Not Taking into Account the inventory write-down and net administration transition costs, operating income for the second quarter of fiscal 2015 was $10.8 million. Not Taking into Account the Secondary Offering costs, operating income for the second quarter of fiscal 2014 was $20.5 million.
- Net loss was $(5.0) million, or $(0.14) per diluted share, contrast to net income of $10.5 million, or $0.27 per diluted share, for the second quarter of fiscal 2014. Not Taking Into Account the inventory write-down and net administration transition costs, net income for the second quarter of fiscal 2015 was $5.2 million, or $0.14 per diluted share. Not Taking into Account the Secondary Offering costs, net income for the second quarter of fiscal 2014 was $10.8 million, or $0.28 per diluted share.
- During the second quarter of 2015, the Company opened one new store, ending the quarter with 42 company-operated stores.
Vince Holding Corp. designs, merchandises, and sells various contemporary fashion brand products in the United States and internationally. It operates through two segments, Wholesale and Direct-To-Consumer.
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