On Friday, Shares of Canadian Solar Inc. (NASDAQ:CSIQ), gained 8.23% to $37.10.
Canadian Solar, declared its financial results for the first quarter ended March 31, 2015.
First Quarter 2015 Highlights
- Total solar module shipments were 1.23 GW, of which 1.03 GW was recognized in revenue, contrast to 897 MW recognized in revenue in the fourth quarter of 2014, and first quarter guidance in the range of 1.0 GW to 1.03 GW.
- Net revenue was $860.9 million, contrast to $956.2 million in the fourth quarter of 2014 and first quarter guidance in the range of $725 million to $775 million.
- Net revenue from the total solutions business as a percentage of total net revenue was 35.9% contrast to 51.7% in the fourth quarter of 2014.
- Gross margin was 17.8%, contrast to 19.3% in the fourth quarter of 2014 and first quarter guidance in the range of 16% to 18%.
- Net income attributable to Canadian Solar was $61.3 million, or $1.04 per diluted share, contrast to $75.7 million, or $1.28 per diluted share, in the fourth quarter of 2014.
- Cash, cash equivalents and restricted cash balances at the end of the quarter totaled $1.04 billion, contrast to $1.02 billion at the end of the fourth quarter of 2014.
- Net cash generated from operating activities was $124.9 million, contrast to net cash generated from operating activities of $259.1 million in the fourth quarter of 2014.
- During the quarter, the Company closed the sale of three solar power plants in Canada, and connected four solar power plants to the grid in the United Kingdom.
- At the end of the quarter, the Company accomplished the acquisition of Recurrent Energy, LLP (“Recurrent”) from Sharp Corporation, expanding its project pipeline to 8.5 GW.
Canadian Solar Inc., together with its auxiliaries, designs, develops, manufactures, and sells solar wafers, cells, and solar power products worldwide. The company operates in two segments, Module and Energy. Its products comprise various solar modules that are used in residential, commercial, and industrial solar power generation systems.
Shares of AOL Inc. (NYSE:AOL), inclined 10.23% to $43.42, during its last trading session.
AOL, released first quarter 2015 results recently. “AOL grew its consumer base strongly and saw continued strength in video, mobile and programmatic advertising, while we also updated the structure and capabilities of the company,” said Tim Armstrong, AOL Chairman & CEO. “AOL continues to grow in strength and we are on a mission to scale the first Media Technology company of the internet and mobile age.”
Q1 Merged Trends:
- Revenue grew 7% driven by 12% growth in global advertising and other revenue. Year-over-year comparisons were negatively influenced by $2 million in revenue from Patch in Q1 2014, preceding to its contribution to a joint venture on January 29, 2014. Revenue grew 9% year-over-year on an FX neutral basis.
- Cost of revenues raised $34 million year-over-year, driven by a $46 million enhance in traffic acquisition costs (TAC) associated with the growth of profitable Search and Third Party Properties revenue. Not taking into account TAC, costs of revenues declined year-over-year.
- Adjusted OIBDA declined 3% year-over-year, reflecting declines in Membership Group Adjusted OIBDA and raised investments in AOL Platforms, which offset improved profitability in the Brand Group.
- Diluted EPS was negatively influenced by a $17 million restructuring charge primarily related to a reorganization in our salesforce in Q1 in addition to $10 million of primarily non-cash interest and other expense related to AOL’s outstanding convertible notes and losses from foreign currency transactions.
AOL Inc. provides various digital brands, products, and services to consumers, advertisers, publishers, and subscribers worldwide. Its Brand Group segment offers original content produced by journalists, politicians, celebrities, academics, policy experts, freelance writers, and bloggers; curated content; curated and aggregated content from third parties; and user-generated content through AOL.com and The Huffington Post, and related sites, in addition to through Engadget and TechCrunch branded properties.
At the end of Friday’s trade, Shares of Atmel Corporation (NASDAQ:ATML), gained 1.76% to $8.10.
Atmel Corporation, declared financial results for its first quarter ended March 31, 2015.
Revenue for the first quarter of 2015 was $318.3 million, an 8% decrease contrast to $346.0 million for the fourth quarter of 2014, and 6% lower contrast to $337.4 million for the first quarter of 2014. Non-GAAP revenue of $316.9 million for the first quarter 2015 excludes the XSense business which has been exited. Quarterly results preceding to the first quarter of 2015 have not been recast to reflect the exit from the XSense business.
GAAP gross margin was 46.3% in the first quarter of 2015 contrast with 40.6% in the fourth quarter of 2014 which comprised of a $26.6 million charge for the impairment of manufacturing assets related to the XSense business, and 41.5% in the first quarter of 2014 which comprised of a $7.1 million loss from manufacturing facility damage and related shutdown.
Non-GAAP gross margin was 47.6% in the first quarter of 2015 contrast to 49.0% in the right away preceding quarter and 44.0% in the first quarter of 2014. Non-GAAP gross margin excludes the XSense cost of revenue for the first quarter 2015 only.
Atmel Corporation designs, develops, manufactures, and sells semiconductor integrated circuit products primarily in the United States, Asia, Europe, South Africa, and Central and South America. It operates in four segments: Microcontroller, Nonvolatile Memory, Automotive, and Multi-Market and Other.
Finally, Range Resources Corporation (NYSE:RRC), ended its last trade with 5.74% gain, and closed at $64.29.
Range Resources Corporation, declared that it has priced at par an offering of $750 million aggregate principal amount of senior notes due 2025, which will carry an interest rate of 4.875%. Range anticipates that the net proceeds of the offering will be about $738 million and intends to use the net proceeds to repay borrowings under its bank credit facility pending its intended redemption of all of its 6 3/4% senior subordinated notes due 2020, which it anticipates to complete in August 2015 using borrowings under its bank credit facility. Range anticipates to close the sale of the notes on May 14, 2015, subject to the satisfaction of customary closing conditions. The size of the offering was raised from the formerly declared $500 million to $750 million.
The notes will not be registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. The notes may be resold by the initial purchasers following Rule 144A and Regulation S under the Securities Act.
Range Resources Corporation, an independent natural gas, natural gas liquids (NGLs), and oil company, engages in the acquisition, exploration, and development of natural gas and oil properties in the United States. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and Midcontinent regions.
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