During Wednesday’s current trade, Shares of Organovo Holdings, (NYSEMKT:ONVO), surged 19.46%, and is now trading at $5.34.
Organovo Holdings, declared preliminary financial information (unaudited) for the fourth quarter and fiscal year ended March 31, 2015.
Based on preliminary financial information for the fiscal quarter and year-ended March 31, 2015, Organovo estimates:
- Total net revenues of about $268 thousand for the quarter, and about $571 thousand for the fiscal year
- Total net cash utilization during fiscal 2015 fourth quarter and fiscal year ended March 31, 2015 of about $6.3 million and $21.1 million, respectively; and
- The Company closed the year with cash and cash equivalents of about $50.1 million.
“We are happy to report preliminary fourth quarter and annual results which primarily reflect the initial uptake of our pre-launch product and services,” said Chief Financial Officer Barry Michaels. “Fiscal 2015 was an exceptional year of accomplishment for Organovo, as we locked down our liver toxicity product and initiated commercial launch of our product and service in November. We expect to gain greater adoption from the global pharmaceutical community and look forward to partnering with them in the discovery and development of their products. Moreover, we are excited about our development progress with a kidney tissue product in addition to the opportunity to expand our footprint to comprise applications within the cosmetics industry. We enter fiscal 2016 with confidence and momentum and look forward to continued expansion of our platform technology across multiple industries utilizing various fully cellular tissues.”
Organovo will initiate quarterly earnings calls upon filing the fiscal 2015 10-K annual report with the SEC in early to mid-June, 2015. Earnings call details will be published about one week before the event.
Organovo Holdings, Inc., a development-stage company, focuses on developing and commercializing functional human tissues that could be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs.
During morning trade, Shares of CalAmp Corp. (NASDAQ:CAMP), climbed 21.88%, and is now trading at $20.33.
CalAmp, stated results for its fourth quarter and full year ended February 28, 2015. Highlights comprise:
- Merged fourth quarter revenue up 16% year-over-year to $69.2 million
- Wireless Datacom fourth quarter revenue up 23% year-over-year to $60.5 million
- Fourth quarter GAAP net income per diluted share up 125% year-over-year to $0.18
- Fourth quarter Adjusted Basis (non-GAAP) net income per diluted share up 60% to $0.32
- Fourth quarter Adjusted EBITDA margin of 18%
- Net cash offered by operations for fiscal 2015 of $28.6 million, and total cash and marketable securities balance at February 28, 2015 of $44.4 million.
Fiscal 2015 Fourth Quarter Results
Total revenue for the fiscal 2015 fourth quarter was $69.2 million contrast to $59.8 million for the fourth quarter of fiscal 2014. Wireless Datacom revenue raised to $60.5 million from $49.2 million in the same period last year, while Satellite revenue was $8.7 million in the latest quarter contrast to $10.6 million in the fourth quarter last year.
Merged gross profit for the fiscal 2015 fourth quarter was $24.6 million, an raise of about $4.0 million over the same quarter last year, primarily attributable to higher Wireless Datacom revenue. Merged gross margin was 35.5% in the fiscal 2015 fourth quarter, contrast to 34.4% in the fourth quarter last year.
GAAP net income for the fiscal 2015 fourth quarter was $6.5 million, or $0.18 per diluted share, contrast to net income of $3.1 million, or $0.08 per diluted share, in the fourth quarter of last year. Although the Company’s GAAP-basis effective tax rate approximates the combined US federal and state statutory tax rate, the Company’s pretax income is still largely sheltered from taxation by net operating loss and research and development tax credit carryforwards, and is predictable to remain so for the next several years.
Non-GAAP net income for the fiscal 2015 fourth quarter was $11.6 million, or $0.32 per diluted share, contrast to non-GAAP earnings of $7.1 million, or $0.20 per diluted share, for the fourth quarter last year.
CalAmp Corp. develops and markets wireless communications products and solutions for various applications worldwide. It operates in two segments, Wireless DataCom and Satellite. The Wireless DataCom segment offers solutions for mobile resource administration applications, machine-to-machine communications space, and other emerging markets that require connectivity anytime and anywhere.
Shares of Zhone Technologies Inc. (NASDAQ:ZHNE), during its Wednesday’s current trading session soared 28.10%, and is now trading at $1.96.
Zhone Technologies, stated its financial results for the quarter ended March 31, 2015.
Revenue for the first quarter of 2015 was $27.1 million, contrast to $30.1 million for the fourth quarter of 2014 and $28.6 million for the first quarter of 2014. Net loss for the first quarter of 2015, calculated in accordance with generally accepted accounting principles, was $0.6 million or $0.02 per share contrast with net loss of $2.1 million or $0.06 per share for the fourth quarter of 2014 and net income of $0.3 million or $0.01 per share for the first quarter of 2014. Adjusted earnings before stock-based compensation, interest, taxes, and depreciation was an adjusted EBITDA loss of $0.1 million for the first quarter of 2015, contrast to an adjusted EBITDA loss of $1.7 million for the fourth quarter of 2014 and an adjusted EBITDA profit of $0.5 million for the first quarter of 2014.
Cash and cash equivalents at March 31, 2015 were $11.3 million contrast to $11.5 million at December 31, 2014.
Zhone Technologies, Inc. designs, develops, manufactures, and sells communications network equipment for telecommunications operators and enterprises worldwide. It offers single line multi-service (SLMS) architecture, which provides support for voice over Internet protocol and IP entertainment by integrating access, transport, customer premises equipment, and administration functions in a standards-based system.
Finally, Great Basin Scientific, Inc. (NASDAQ:GBSN), skyrocketed 51.13% Wednesday.
Great Basin Scientific, declared that the U.S. Food and Drug Administration (FDA) has granted clearance for its molecular diagnostic test for Group B Streptococcus (GBS). This is Great Basin’s second assay to be cleared by the FDA. The Company’s first test, for Clostridium difficile, or C. diff, was approved in May 2012. Great Basin plans to launch the GBS assay commercially in the second quarter of 2015.
According to the Centers for Disease Control (CDC), GBS disease remains the leading infectious cause of morbidity and mortality among newborns in the United States. Infants infected with GBS may have sepsis and pneumonia; additionally, early-onset infections can lead to meningitis. For infected infants, there may be long-term consequences such as deafness and developmental disabilities. The fatality rate of early-onset GBS disease is four to six percent.
About 10 to 30 percent of all pregnant women are colonized with GBS in the genitourinary tract, which can be transferred to the infant during labor and delivery. GBS-colonized mothers are often asymptomatic and therefore the CDC recommends pregnant women get screened for GBS at 35 to 37 weeks of gestation. According to the CDC, there are nearly 4 million live births every year in the United States.
The Great Basin GBS assay provides accurate results in about 90 minutes with a specimen from enriched LIM broth. By targeting a highly conserved region of the cfb (CAMP factor) gene, the molecular assay provides definitive identification and a more rapid diagnosis of the mother’s GBS colonization status contrast to standard culture-based testing, which may take up to an additional 48 hours. These test results provide the physician with important information for making appropriate, timely therapeutic decisions to prevent the spread of this disease to the infant during delivery.
Great Basin’s easy-to-use integrated cartridge system allows for more accurate and information-rich detection of infectious diseases, capable of both low-plex and multi-plex targets, and allows providers to diagnose and define a clear treatment path sooner for improved patient outcomes, shorter hospital stays and noteworthy cost savings. The Company’s aim is to deliver assays that can be performed at a lower cost than other molecular diagnostic solutions.
Great Basin Scientific, Inc., a molecular diagnostic testing company, doing business as Great Basin Corporation, develops and commercializes molecular diagnostic systems that are designed to test hospital-attained infections.
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