On Wednesday, Infinera Corp (NASDAQ:INFN)’s shares declined -2.13% to $19.79.
On April 21, Infinera Corp (INFN), provider of Intelligent Transport Networks, recently released financial results for the first quarter of 2015 ended March 28, 2015.
Revenue for the quarter was $186.9 million contrast to $186.3 million in the fourth quarter of 2014 and $142.8 million in the first quarter of 2014.
GAAP gross margin for the quarter was 47.2% contrast to 45.3% in the fourth quarter of 2014 and 40.9% in the first quarter of 2014. GAAP operating margin for the quarter was 8.1% contrast to an operating margin of 6.9% in the fourth quarter of 2014 and an operating loss of 0.7% in the first quarter of 2014.
GAAP net income for the quarter was $12.4 million, or $0.09 per diluted share, contrast to net income of $8.4 million, or $0.06 per diluted share, in the fourth quarter of 2014, and a net loss of $4.4 million, or $0.04 per share, in the first quarter of 2014.
Non-GAAP gross margin for the quarter was 47.8% contrast to 46.1% in the fourth quarter of 2014 and 41.8% in the first quarter of 2014. Non-GAAP operating margin for the quarter was 12.2% contrast to 11.0% in the fourth quarter of 2014 and 3.9% in the first quarter of 2014.
Non-GAAP net income for the quarter was $22.1 million, or $0.16 per diluted share, contrast to $18.0 million, or $0.13 per diluted share, in the fourth quarter of 2014, and $4.2 million, or $0.03 per diluted share, in the first quarter of 2014.
Infinera Corporation provides optical transport networking equipment, software, and services for telecommunications service providers, Internet content providers, cable operators, wholesale and enterprise carriers, research and education institutions, and government entities worldwide.
At the end of Wednesday’s trade, Sanchez Energy Corp (NYSE:SN)‘s shares dipped -2.07% to $14.18.
Yesterday, Sanchez Energy Corp (SN), offered an update on its first quarter 2015 operations and production. Highlights from the update comprise:
- Estimated average daily production of 45,217 BOE/D during the first quarter 2015, which represents a 141% raise over first quarter 2014, surpassing the high side of initial guidance of 40,000 to 44,000 BOE/D.
- Operational efficiencies and service cost reductions continue to drive substantial cost savings across Sanchez Energy’s asset base, with average well costs in Catarina, where the Company is focusing the majority of its drilling and completion budget in 2015, presently trending below $4.5 million.
- The Company is now targeting three distinct vertical productive Eagle Ford zones at Catarina and believes that potential for stacked development exists in the Lower, Middle, and Upper Eagle Ford.
- Results from the Company’s first stacked development location, a ten well pad in Western Catarina, have exceeded initial expectations and the wells are performing above the Lower Eagle Ford type curve.
- Sanchez Energy presently has 544 gross producing wells with 24 gross wells in various stages of completion.
- Based on operating results during the first quarter 2015, Sanchez Energy anticipates that capital spending in 2015 will trend toward the lower end of the $600 to $650 million range offered for its 2015 capital plan.
- Production is predictable to trend toward or exceed the upper end of the 40,000 to 44,000 BOE/D range offered for average 2015 production, despite the recent sale of about 1,000 BOE/D of production which closed on March 31, 2015.
Sanchez Energy Corporation, an independent exploration and production company, focuses on the acquisition, exploration, and development of unconventional oil and natural gas resources in the onshore U.S. Gulf Coast. It has about 226,000 net leasehold acres in the oil and condensate, or black oil and volatile oil, windows of the Eagle Ford Shale in South Texas; and about 69,000 net leasehold acres in the Tuscaloosa Marine Shale in Mississippi and Louisiana. The company was founded in 2011 and is headquartered in Houston, Texas.
Pentair plc. Ordinary Share (NYSE:PNR), ended its Wednesday’s trading session with -1.53% loss, and closed at $60.51.
On April 21,Pentair plc. Ordinary Share (PNR), declared first quarter 2015 sales of $1.5 billion. Sales were down 10 percent contrast to sales for the same period last year. First quarter 2015 earnings per diluted share from ongoing operations (“EPS”) were $0.65, down 8 percent from adjusted EPS of $0.71 in the first quarter of last year. Adjusted EPS, adjusted operating income, and segment income exclude redomicile-related expenses and restructuring costs.
“We started the year much slower than we had originally anticipated as a decline in oil prices and the strengthening dollar have led many of our customers to delay business in what feels like a global capital spending pause,” said Randall J. Hogan, Pentair Chairman and Chief Executive Officer. “We believe that Pentair is in the right markets for the long term and we have detailed plans in place to work through the anticipated near term challenges.”
First quarter 2015 operating income was $171 million, down 15 percent contrast to adjusted operating income for first quarter 2014, and adjusted operating margins were 11.6 percent, a decline of 60 basis points when contrast to adjusted first quarter 2014 operating margins.
Free cash flow in the quarter was a usage of $159 million, reflecting normal seasonality and timing of cash flows. The company anticipates to deliver full year free cash flow greater than 120 percent of net income.
Pentair paid dividends of $0.32 per share in the first quarter of 2015. Pentair formerly declared on December 10, 2014 that its Board of Directors approved a 16 percent raise in the company`s regular annual cash dividend rate for 2015 to $1.28 from $1.10. 2015 marks the 39th successive year that Pentair has raised its dividend.
Pentair plc operates as a diversified industrial manufacturing company in the United States, Europe, and internationally. The company operates through Valves & Controls, Technical Solutions, Flow & Filtration Solutions, and Water Quality Systems segments. It designs, manufactures, markets, and services valves, fittings, automation and controls, and actuators, in addition to provides engineering, design, inspection, maintenance, and repair services.
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