On Wednesday, Shares of Canadian Solar Inc (NASDAQ:CSIQ), lost -18.19% to $20.20.
Canadian Solar Inc, declared its financial results for the second quarter ended June 30, 2015.
Second Quarter 2015 Highlights
- Total solar module shipments were 850 MW, of which 809 MW were recognized in revenue, contrast to 1.03 GW recognized in revenue in the first quarter of 2015, and second quarter shipment guidance in the range of 950 MW to 1,000 MW.
- Net revenue was $636.7 million, contrast to $860.9 million in the first quarter of 2015 and second quarter guidance in the range of $570 million to $620 million.
- Net revenue from the total solutions business as a percentage of total net revenue was 30.6% contrast to 35.9% in the first quarter of 2015.
- Gross margin was 15.2%, contrast to 17.8% in the first quarter of 2015 and second quarter guidance in the range of 13.0% to 15.0%.
- Net income attributable to Canadian Solar was $17.9 million, or $0.31 per diluted share, contrast to $61.3 million, or $1.04 per diluted share, in the first quarter of 2015.
- Cash, cash equivalents and restricted cash balances at the end of the quarter totaled $1.04 billion, the same as at the end of the first quarter of 2015.
- Net cash generated from operating activities was $29.1 million, contrast to $124.9 million in the first quarter of 2015.
- During the quarter, the Company closed the sale of one solar power plant in Canada and connected three solar power plants to the grid in Japan.
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.
Shares of SYSCO Corporation (NYSE:SYY), declined -0.44% to $40.97, during its last trading session.
SYSCO Corporation, issued the following statement regarding an SEC filing by Trian Partners:
“Sysco welcomes collaborative talk aboutions with investors who share our interest in creating value by marketing and delivering great products to our customers with exceptional service. We have recently engaged with Trian and expect to continue a constructive dialogue.
“We believe Sysco is extremely well positioned to execute our strategy in a manner that will support the success of our customers, profitably grow our business and improve our return on invested capital. As we noted in our most recent earnings declarement, we look forward to providing additional details regarding our planned initiatives during our Investor Day on Sept. 15, 2015.”
Sysco Corporation, through its auxiliaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates in Broadline and SYGMA segments.
Finally, Anthera Pharmaceuticals Inc (NASDAQ:ANTH), ended its last trade with -4.45% loss, and closed at $8.80.
Anthera Pharmaceuticals, declared financial results and an operational update for the second quarter ended June 30, 2015.
Net loss for the quarter and six months ended June 30, 2015 was $8.9 million and $16.6 million, respectively, contrast to $7.3 million and $15.2 million for the corresponding periods in 2014. The enhance in net loss both quarterly and year-to-date is mainly driven by higher clinical development expense for our blisibimod program and manufacturing and study preparation expenses for the Sollpura(TM) development program. The enhance in operating expense both quarterly and year-to-date is offset by revenues of $0.3 million and $0.5 million in connection with the amortization of license fee and FTE reimbursement from our collaborative partner, and $0.4 million and $0.9 million in cost share reimbursement from our partner. Furthermore, operating expense is reduced by $1.1 million in connection with our achievement of certain milestones specified in a research award granted to us by the Cystic Fibrosis Foundation Therapeutics (“CFFT”) for the development of Sollpura(TM). Comprised of in operating expense are $0.7 million and $1.2 million of non-cash stock-based compensation recorded for the three and six months ended June 30, 2015, contrast to $0.5 million and $1.3 million in the corresponding periods in 2014.
General and administrative expense for the quarter and six months ended June 30, 2015 was $1.7 million and $3.6 million, respectively, contrast to $1.6 million and $3.4 million for the corresponding periods in 2014. The enhance in general and administrative expense both quarterly and year-to-date is mainly due to higher professional expenses.
Non-operating expense for the quarter and six months ended June 30, 2015 was $49,000 and $52,000, respectively, contrast to $0.4 million and $0.7 million for the corresponding periods in 2014. The decrease in non-operating expense both quarterly and year-to-date is mainly due to the elimination of interest expense as a result of paying down all of our long-term debt in 2014.
Anthera Pharmaceuticals, Inc., a biopharmaceutical company, focuses on developing and commercializing medicines for patients with unmet medical needs. It is developing blisibimod, a Phase III product candidate that targets B-cell activating factor associated with various B-cell mediated autoimmune diseases, counting systemic lupus erythematosus, Immunoglobulin A nephropathy, lupus nephritis, and others.
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