On Monday, Shares of MiMedx Group, Inc. (NASDAQ:MDXG), dropped -3.52% to $9.46.
MiMedx Group, declared its record results for the first quarter of 2015.
The Company also declared the decision of its Board of Directors to authorize an enhance of $10 million to the Company’s Share Repurchase Program. Today’s action enhances the total authorized to $30 million since the program commenced on May 12, 2014.
First Quarter 2015 Results
The Company recorded record revenue for the first quarter of 2015 of $40.8 million, a $21.2 million or 108% enhance over 2014 first quarter revenue of $19.6 million. The Company’s gross margins for the quarter ended March 31, 2015, were 87% as contrast to 85% in the first quarter of 2014. Adjusted EBITDA for the quarter ended March 31, 2015, were $8.8 million, a $6.8 million or 343% improvement, as contrast to Adjusted EBITDA* of $2.0 million for the first quarter of 2014. Net Income for the first quarter of 2015 was $4.1 million, or $0.04 per diluted common share, a $5.0 million improvement, as contrast to the Net Loss of $922,000, or $0.01 per diluted common share, in the 2014 first quarter.
Balance Sheet and Cash Flow
As of March 31, 2015, total assets were $106.1 million, contrast to $109.3 million as of December 31, 2014. Cash on hand as of March 31, 2015, was $38.7 million, as contrast to $46.6 million as of December 31, 2014. The decrease in cash was due to share repurchases of $12.2 million somewhat offset by positive net cash flow from operating activities of $4.2 million, due primarily to an enhance in Adjusted EBITDA and improved working capital administration. Accounts receivable raised to $31.0 million as of March 31, 2015, from $26.7 million as of December 31, 2014. Days Sales Outstanding (DSO) as of March 31, 2015 were 68 days, contrast to 61 days as of December 31, 2014. Inventory reduced about $885,000 to $4.2 million as of March 31, 2015, contrast to $5.1 million as of December 31, 2014. Inventory turns were 4.9 for the quarter as contrast to 2.8 in the preceding quarter. Total liabilities reduced to $19.7 million as of March 31, 2015, from $19.9 million as of December 31, 2014. Stockholders’ equity reduced by $2.9 million to $86.4 million as of March 31, 2015, from $89.3 million as of December 31, 2014.
MiMedx Group, Inc. designs, manufactures, and markets products and tissue processing services in the United States. The company’s products comprise patent protected regenerative biomaterials and bioimplants processed from human amniotic membrane. Its biomaterial platform technologies comprise AmnioFix and EpiFix, which are tissue technologies processed from human amniotic membrane that is derived from donated placentas.
Shares of EarthLink Holdings Corp. (NASDAQ:ELNK), declined -3.48% to $4.72, during its last trading session.
EarthLink Holdings, declared that it will host a conference call on Tuesday, May 5, 2015 at 8:30 a.m. ET to talk about its first quarter 2015 financial results. EarthLink plans to issue its earnings press release after market close on Monday, May 4.
EarthLink Holdings Corp., together with its auxiliaries, provides managed network, security, and cloud services to business and residential customers in the United States. The company operates in two segments, Business Services and Consumer Services.
At the end of Monday’s trade, Shares of Actavis plc (NYSE:ACT), dwindled -3.46% to $285.19.
Actavis, declared positive top-line results for study DUR001-303, a phase 3 study comparing a single 1500 mg dose of DALVANCE with the same total dose given as two-doses one week apart, for the treatment of acute bacterial skin and skin structure infections (ABSSSI) caused by susceptible Gram-positive bacteria, counting methicillin resistant Staphylococcus aureus (MRSA).
Preliminary top-line data demonstrated the 1500 mg single-dose of DALVANCE achieved its primary endpoint of non-inferiority to the two-dose regimen (10% non-inferiority margin) at 48-72 hours after initiation of therapy, as determined by a decrease of > 20% in lesion area relative to the baseline measurement (81.4% vs. 84.2 % for the single dose vs. the two dose regimen, respectively; Difference -2.9; 95% CI: -8.5, 2.8) Similar proportions of patients with Staphylococcus aureus infections at baseline were clinical responders at the 48-72 hour time-point within each treatment group (122/137 (89.1%) in the single-dose treatment group and 124/145 (85.5%) in the two-dose treatment group).
Actavis plc develops, manufactures, and sells generic, brand, and biosimilar pharmaceuticals. It offers over-the-counter products. The company also provides biosimilar products in women’s health, oncology, and other therapeutic categories.
Finally, Keryx Biopharmaceuticals Inc. (NASDAQ:KERX), ended its last trade with -3.42% loss, and closed at $11.02.
Keryx Biopharmaceuticals, declared that a conference call will be held on Monday, May 4th, 2015 at 8:00 a.m. ET to talk about financial results for the first quarter 2015 and provide an update on the Auryxia(TM) (ferric citrate) launch.
Keryx Biopharmaceuticals, Inc., a biopharmaceutical company, focuses on providing therapies for patients with renal disease in the United States. Its lead product Auryxia (ferric citrate), an oral, ferric iron-based compound that has the capacity to bind to phosphate in the gastrointestinal tract and form non-absorbable complexes, in addition to treats iron deficiency anemia.
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