On Thursday, NeoPhotonics Corp (NYSE:NPTN)’s shares declined -4.86% to $7.25.
NeoPhotonics Corp (NPTN) declared financial results for its first quarter ended March 31, 2015.
First Quarter Summary
- Revenue was $81.4 million, up $13.2 million, or 19.4%, from the first quarter of 2014, and up $2.4 million, or 3.0%, from the preceding quarter
- Gross margin was 29.6%, upfrom 20.2% in the first quarter of 2014, and up from 28.7% in the preceding quarter
- Non-GAAP gross margin was 31.3%, up from 22.0% in the first quarter of 2014, and upfrom 30.3% in the preceding quarter
- Net income was $0.1 million, up from a loss of $12.6 million in the first quarter of 2014, and downfrom $1.6 million in the preceding quarter
NeoPhotonics Corporation designs and manufactures hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive, high-speed communications networks. Its products comprise transmitter, receiver, and switching products for 100 gigabits per second (Gbps) optical transmission applications over distances of 2 to 2,000 kilometers; a range of products for optical communications networks and other applications, where the networks operate at speeds less than 100Gbps; and optical components for coherent systems, which manipulate light to encode ten times or more the amount of information in the same wavelength channel than is possible with traditional methods.
Cinedigm Corp (NASDAQ:CIDM)’s shares dropped -4.46% to $0.870.
Cinedigm Corp (CIDM) declared a plan to enhance its Board of Directors to better support the Company’s content distribution business and rapidly evolving niche over-the-top (OTT) digital network business. The Company intends to add two to four new directors, counting a new Chairman of the Board. Cinedigm has engaged Korn Ferry, a leading internationally recognized executive search and advisory firm, to assist in the search for new Board candidates.
Over the last four years, Cinedigm has transformed from a digital cinema deployment and financing entity to a leading independent distributor of content across all platforms in the U.S., counting the emerging OTT space. In recent months, the Company’s independent niche OTT business has accelerated significantly, counting the launch of CONtv on March 3rd, the planned launch of the faith and family Dove Channel this summer, the ongoing growth of the documentary-focused channel Docurama and several more channels in development.
The planned reconfiguration will comprise the following steps:
- The Company will seek to add two to four highly-qualified Board members with complementary, relevant expertise counting television, OTT, social media, marketing, entertainment, capital markets or other related fields;
- It is predictable that one of these new directors will be named Chairman of the Board.
- Two of the new independent Board members will replace two associated Board positions, presently held by the Company’s COO and General Counsel;
- Wayne L. Clevenger of MidMark Capital will retire from the Board preceding to the Company’s next shareholder meeting, leaving MidMark Capital with one Board seat;
- Cinedigm is not targeting to enhance the current size of the Board from eight members, but may adjust, as appropriate, to accommodate additional qualified nominees or the potential departure of additional current independent directors.
Cinedigm Corp. distributes independent movie, television, and other short form content in the Unites States. It manages a library of distribution rights to about 52,000 titles and episodes released across theatrical, digital, physical, home, and mobile entertainment platforms, in addition to services digital cinema assets on about 12,000 movies screens. The company operates in four segments: Phase I Deployment, Phase II Deployment, Services, and Content & Entertainment. It is involved in the collection of virtual print fees from motion picture studios and distributors, and alternative content fees from alternative content providers and theatrical exhibitors.
At the end of Thursday’s trade, Viggle Inc (NASDAQ:VGGL)‘s shares dipped -4.33% to $3.09.
Viggle Inc (VGGL) declared that it intends to offer shares of its common stock in an underwritten public offering. The company anticipates to grant the underwriters of the offering an option to purchase additional shares of common stock to cover over-allotments, if any. The projected offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be accomplished, or as to the actual size or terms of the offering.
Ladenburg Thalmann & Co. Inc., a partner of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS) is acting as sole book-running manager for the projected offering.
Viggle Inc. operates as a mobile and Web-based entertainment marketing platform for media companies, brands, and consumers in the United States. It guides users towards various forms of media consumption with television enhancement, music discovery, entertainment content publishing, and distributed viewing reminders.
Noah Holdings Limited (ADR) (NYSE:NOAH), ended its Thursday’s trading session with -4.13% loss, and closed at $33.19.
Noah Holdings Limited (ADR) (NOAH) declared its unaudited financial results for the first quarter of 2015.
Starting from the fourth quarter of 2014, the Company has presented its financial results in three business segments, (i) wealth administration, (ii) asset administration and (iii) internet finance. To facilitate comparisons with these first quarter 2015 financial results, the Company has also presented its historical first quarter 2014 financial results in this press release according to these three business segments.
FIRST QUARTER 2015 OPERATIONAL UPDATES
Wealth Administration Business
The Company’s wealth administration business provides global wealth investment and asset allocation services to high net worth individuals and enterprise clients in China.
- The total number of registered clientsas of March 31, 2015 was 74,895, compriseing of 72,027 registered individual clients, 2,749 registered enterprise clients and 119 wholesale clients that have reached cooperation agreements with the Company, a 34.9% enhance since March 31, 2014.
- The total number of active clients[2] during the first quarter of 2015 was 5,275, a 61.9% enhance from the corresponding period in 2014.
Noah Holdings Limited, through its auxiliaries, operates as a wealth administration service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People’s Republic of China.
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