On Tuesday, Organovo Holdings Inc (NYSEMKT:ONVO)’s shares declined -4.49% to $4.47.
Yesterday, Organovo Holdings Inc (ONVO), 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 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.
FMC Technologies, Inc (NYSE:FTI)’s shares dropped -4.48% to $37.73, during the last trading session on Tuesday.
Yesterday, FMC Technologies, Inc (FTI), stated first quarter 2015 revenue of $1.7 billion, down 7 percent from the preceding-year quarter as stronger Subsea Technologies performance was offset by the continued strength of the U.S. dollar and the decline in the North American land market. Diluted earnings per share were $0.63.
Total inbound orders were $969.0 million and comprised of $552.0 million in Subsea Technologies orders. Backlog for the Company was $5.5 billion, counting Subsea Technologies backlog of $4.8 billion.
“We delivered solid first quarter earnings, largely the result of the continued strength of our Subsea Technologies performance,” said John Gremp, Chairman, President, and CEO of FMC Technologies. “We are leveraging our backlog and execution momentum, while taking actions in all of our businesses to strengthen our operating structure. With our strong customer relationships, we expect to inbound at least $3 billion of subsea awards in 2015.”
FMC Technologies, Inc. provides technology solutions for the energy industry worldwide. The company operates through Subsea Technologies, Surface Technologies, and Energy Infrastructure segments. The Subsea Technologies segment offers subsea systems for the offshore production of crude oil and natural gas; and well access and flow administration services, counting installation and workover tools, service technicians for installation assistance, and field support services.
At the end of Tuesday’s trade, U.S. Silica Holdings Inc (NYSE:SLCA)‘s shares dipped -4.46% to $36.24.
On April 7, U.S. Silica Holdings Inc (NYSE:SLCA), declared that it will release its first quarter 2015 financial results after the New York Stock Exchange closes on Tuesday, April 28, 2015. This release will be followed by a conference call for investors on Wednesday, April 29, 2015 at 9:00 a.m. Eastern Time to talk about the results. Hosting the call will be Bryan Shinn, president and chief executive officer and Don Merril, vice president and chief financial officer.
U.S. Silica Holdings, Inc. produces and sells commercial silica in the United States. It operates through two segments, Oil & Gas Proppants, and Industrial & Specialty Products. The company offers whole grain commercial silica products to be used as fracturing sand in connection with oil and natural gas recovery, in addition to sells its whole grain silica products in various size distributions, grain shapes, and chemical purity levels for manufacturing glass products. It also provides ground commercial silica products for use in plastics, rubber, polishes, cleansers, paints, glazes, textile fiberglass, and precision castings; and fine ground silica for use in premium paints, specialty coatings, sealants, silicone rubber, and epoxies.
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