During Wednesday’s Morning trade, Shares of Vipshop Holdings Limited (NYSE:VIPS), surged 8.94% to $13.64.
Vipshop Holdings Limited, declared its unaudited financial results for the third quarter ended September 30, 2015.
Third Quarter 2015 Highlights
- Total net revenue raised by 63% to RMB8.67 billion (US$1.36 billion) from RMB5.33 billion in the prior year period.
- Gross profit raised by 63% to RMB2.16 billion (US$339 million) from RMB1.33 billion in the prior year period. Gross margin remained stable at 24.9%, as contrast to the prior year period.
- Income from operations raised by 241% to RMB436 million (US$69 million) from RMB128 million in the prior year period. Operating margin raised to 5.0% from 2.4% in the prior year period.
- Non-GAAP income from operations[1] raised by 131% to RMB587 million (US$92 million) from RMB254 million in the prior year period. Non-GAAP operating margin[2] raised to 6.8% from 4.8% in the prior year period.
- Net income attributable to Vipshop’s shareholders raised by 90% to RMB317 million (US$50 million) from RMB167 million in the prior year period. Net income margin attributable to Vipshop’s shareholders raised to 3.7% from 3.1% in the prior year period.
Vipshop Holdings Limited, through its auxiliaries, operates as an online discount retailer for various brands in the People’s Republic of China. It offers a range of branded products, counting women’s apparel, such as casual wear, jeans, dresses, outerwear, swimsuits, lingerie, pajamas, and maternity clothes; men’s apparel comprising casual and smart-casual T-shirts, polo shirts, jackets, pants, and underwear; women and men shoes for casual and formal occasions; and accessories comprising of belts, jewelry, watches, and glasses for women and men.
Shares of Universal Insurance Holdings Inc. (NYSE:UVE), inclined 16.05% to $24.05, during its current trading session.
Universal Insurance Holdings, issued the following statement to correct misleading allegations and misinformation presented by Lakewood Capital Administration, a short seller:
“Universal Insurance is a national homeowners insurance company with operations in 11 states and direct written premium of $684 million through September 30, 2015. The Company operates in a highly regulated industry, and has received all necessary certifications from the states in which it operates. Universal has established a consistent track record of top- and bottom-line growth. For the first nine months of 2015, the Company stated net income of $77.3 million, an improvement of 48.7% year over year. Diluted EPS for the first nine months of the year was $2.15, an improvement of 45.3% year over year. The Company’s growth has been driven by its focus on 100% organic expansion based on a rate adequate, high quality book of business, first-rate customer service and claims processing. Universal believes that the planned changes and improvements made to its reinsurance program in 2015 will continue to drive financial improvements. Specifically, the Company’s 2015/2016 reinsurance program provides it with the necessary protection from noteworthy storms and allows it, as a result of its improved capital position, to retain a greater share of its profitable business. The Company believes that the statements made by Lakewood Capital Administration are misleading and contain partial information, designed to negatively affect Universal’s stock.”
Universal Insurance Holdings, Inc., through its auxiliaries, provides various property and casualty insurance products. The company primarily underwrites homeowners insurance products; and offers reinsurance intermediary brokerage services. It offers its products through a network of independent agents in Delaware, Florida, Georgia, Hawaii, Indiana, Maryland, Massachusetts, North Carolina, Pennsylvania, and South Carolina, the United States.
Finally, TASER International Inc. (NASDAQ:TASR), surged 12.29%, and is now trading at $18.82. The company holds the market capitalization of $1.01B. Its 52-week range is $17.08 - $35.95. Its intraday range is $18.00 - $18.94. The total volume traded till now is 1,565,173 shares, lower as compared to that of its average daily volume of 1,820,760 shares. Its 1-year target price is estimated to be $30.00.
TASER International, Inc. develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. It operates through two segments, TASER Weapons and AXON. The company’s CEW products transmit electrical pulses along the wires and into the body affecting the sensory and motor functions of the peripheral nervous system.
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