On Friday, Shares of MiMedx Group Inc (NASDAQ:MDXG), gained 5.17% to $9.16.
MiMedx Group, declared its record results for the second quarter of 2015.
Second Quarter 2015 Highlights
- Q2 2015 is 15th successive quarter of meeting or surpassing Company revenue guidance
- Q2 2015 revenue of $45.7 million raised 79% over Q2 2014
- Revenue is at the upper end of Company Q2 guidance
- Q2 2015 Wound Care sales grew 73% over Q2 2014
- Q2 2015 Surgical, Sports Medicine/Orthopedic revenue raised 104% over Q2 2014
- Adjusted EBITDA of $10.6 million represents a 265% improvement over Q2 2014
- Q2 2015 net income of $5.4 million or $0.05 per diluted share vs Q2 2014 net loss of $390,000 or $0.00 per diluted share
Second Quarter and Six Months Ended June 30, 2015 Results
The Company recorded record revenue for the second quarter of 2015 of $45.7 million, a $20.1 million or 79% enhances over 2014 second quarter revenue of $25.6 million. The Company’s gross margin for the quarter ended June 30, 2015, was 89%, equal to the gross margin in the second quarter of 2014. Adjusted EBITDA* for the quarter ended June 30, 2015, was $10.6 million, a $7.7 million or 265% improvement, as contrast to Adjusted EBITDA* of $2.9 million for the second quarter of 2014. Net Income for the second quarter of 2015 was $5.4 million, or $0.05 per diluted common share, a $5.8 million improvement, as contrast to the Net Loss of $390,000, or $0.00 per diluted common share, in the second quarter of 2014.
For the six months ended June 30, 2015, the Company recorded record revenue of $86.4 million, a $41.3 million or 92% enhance over revenue of $45.1 million recorded in the same period of 2014. The Company’s gross margin for the six months ended June 30, 2015, was 88% as contrast to 87% in the same six-month period of 2014. Adjusted EBITDA for the six months ended June 30, 2015, was $19.3 million, a $14.4 million or 297% improvement, as contrast to Adjusted EBITDA of $4.9 million for the six months ended June 30, 2014. Net Income for the six months ended June 30, 2015, was $9.5 million, or $0.08 per diluted common share, a $10.8 million improvement, as contrast to the Net Loss of $1.3 million, or ($0.01) per diluted common share, in the first six months of 2014.
MiMedx Group, Inc. develops, processes, and markets patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. Its biomaterial platform technologies are AmnioFix, EpiFix, and CollaFix.
Shares of Red Hat Inc (NYSE:RHT), declined -3.73% to $72.33, during its last trading session.
Red Hat, declared that president and CEO Jim Whitehurst will deliver the keynote presentation at the North Carolina Technology Association’s (NCTA) Thought Leaders series.
Whitehurst’s session – The Open Organization: Igniting Passion and Performance – will be based on his recent book of the same name, and focus on how senior leaders can reinvent their companies to compete and succeed in recently’s fast-moving economy. He will touch on key themes that businesses and executives are facing every day, counting the need to build a creative, energized culture based on transparency, employee engagement, and a commitment to innovation.
Whitehurst’s book dives into each of these topics by illustrating how businesses can apply an open source development model to their administration practices. Doing so can assist them create more open, flexible, agile – and, ultimately, successful – organizations. The Open Organization: Igniting Passion and Performance is now accessible from Amazon, Barnes & Noble, and other retailers.
Red Hat, Inc. provides open source software solutions to enterprise customers worldwide. It develops and offers operating system, virtualization, middleware, storage, and cloud technologies.
At the end of Friday’s trade, Shares of Eclipse Resources Corp (NYSE:ECR), lost -11.05% to $3.38.
Eclipse Resources Corporation, declared its second quarter 2015 operational update and earnings release information.
Operational highlights from the quarter comprise the following:
- Production for the second quarter averaged about 198.6 MMcfe per day, which was about 10% above the high end of its formerly issued guidance range for the quarter and represented a 374% enhance relative to the second quarter 2014 and a 24% sequential enhance over the first quarter 2015. For the second quarter of 2015, the Company’s production mix was about 57% natural gas, 23% natural gas liquids and 20% oil.
- Turned 6.3 net wells to sales, counting the three-well Sawyers pad in the Dry Gas type curve area drilled with inter-lateral spacing of about 715 feet.
- Drilled a dry gas Utica well in eastern Monroe Country, Ohio with a 10,220 foot lateral (21,330 foot total measured depth), its longest lateral and deepest well to date, in just 17 days from Spud to Total Depth.
- Averaged 921 feet per day drilling with an average cost of $261 per foot, a 7% enhance in footage and an 18% decrease in cost over the first quarter 2015.
- Averaged 4.4 completion stages per day with an average cost of $127,600 per stage for the second quarter of 2015, a 33% enhance in stages and a 36% decrease in per stage costs over the first quarter 2015.
- Offered third quarter 2015 production guidance of 205 – 215 MMcfe per day.
- Raised its full year 2015 guidance to 190-200 MMcfe per day from the formerly declared range of 180-190 MMcfe per day, which equates to a 170% year-over-year growth rate using the midpoint of the new guidance range. This range assumes the Fuchs/Dietrich pads are not turned-to-sales until the first quarter of 2016, as formerly talk abouted.
- Realized natural gas price before the impact of cash settled derivatives and counting transportation costs averaged $2.30 per Mcf, a $0.44 per Mcf discount to NYMEX during the quarter. Realized natural gas pride after the impact of cash settled derivatives and counting transportation costs averaged $3.05 per Mcf, a $0.31 premium to NYMEX during the quarter.
- Realized oil price before the impact of cash settled derivatives averaged $45.48 per barrel, a $12.19 per barrel discount to WTI oil price during the quarter.
- Realized natural gas liquids price, counting transportation costs, averaged $14.01 per barrel, or about 24% of the average WTI oil price during the quarter.
Eclipse Resources Corporation, an independent exploration and production company, acquires and develops oil and natural gas properties in the Appalachian Basin. The company owns interests in the Utica Shale and Marcellus Shale areas.
Finally, F5 Networks, Inc. (NASDAQ:FFIV), ended its last trade with -3.20% loss, and closed at $122.51.
F5 Networks, declared its new F5 Ready program that makes it easier for customers to use F5 solutions in the cloud environment of their choice. F5 Ready serves to verify that F5’s software-based solutions support a broad array of cloud providers worldwide, making the agility, efficiency, and cost savings of cloud accessible to more organizations. With the introduction of this global program, customers can better ensure the security, performance, and availability of applications in these cloud environments.
F5 Networks, Inc. develops, markets, and sells application delivery networking products that optimize the security, performance, and availability of network applications, servers, and storage systems.
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