On Monday, Shares of Gap Inc (NYSE:GPS), lost -0.53% to $32.02.
Gap Inc., stated second quarter fiscal year 2015 results and reaffirmed its full-year earnings per share guidance to be in the range of $2.75 to $2.80, not taking into account the impact from planned actions formerly declared on June 15, 2015.
On a stated basis, Gap Inc.’s second quarter of fiscal year 2015 diluted earnings per share were $0.52, counting the negative impacts associated with foreign currency fluctuations, West Coast port delays, and the planned actions.
Not taking into account the negative impact of about $0.12 from the planned actions, the company’s adjusted diluted earnings per share were $0.64 for the second quarter of fiscal year 2015. Please see the reconciliation of adjusted diluted earnings per share, a non-GAAP financial measure, from the GAAP financial measure in the table at the end of this press release.
First Half Fiscal Year 2015 Results
For the first half of fiscal year 2015, the company’s diluted earnings per share were $1.09. The company’s adjusted diluted earnings per share were $1.42, or an enhance of about 12 percent contrast with adjusted diluted earnings per share for the first half of fiscal year 2014, which excludes a $0.05 gain on asset sale. The company noted that its adjusted diluted earnings per share for the first half of fiscal year 2015 excludes the following negative impacts:
- $0.06 per share due to the estimated impact from foreign currency fluctuations;
- $0.13 per share due to the estimated impact from West Coast port delays; and
- $0.14 per share due to charges associated with planned actions primarily at Gap brand, counting lease buyouts, asset impairments, and employee-related costs.
The Gap, Inc. operates as an apparel retail company worldwide. It offers apparel, accessories, and personal care products for men, women, and children under the Gap, Banana Republic, Old Navy, Athleta, and Intermix brand names.
Shares of MAXIMUS, Inc. (NYSE:MMS), declined -2.15% to $58.64, during its last trading session.
MAXIMUS, declared that Barbara Selter, Vice President of MAXIMUS Health Services and an expert in long-term services and supports (LTSS), and John Crouse, Vice President of MAXIMUS Health Services and an expert in Medicaid provider administration, will be featured presenters at the annual Medicaid Enterprise Systems (MES) Conference.
Ms. Selter will highlight states that have successfully implemented forward-thinking strategies within their dually eligible populations during the “Lessons Learned from the CMS Financial Alignment Demonstrations for Dual Eligibles: Replicating Successful State Demonstrations” session. Ms. Selter has worked with 9 of the 11 Centers for Medicare & Medicaid Services (CMS) Financial Alignment Demonstrations for Medicare-Medicaid Eligibles, commonly referred to as the Dual Eligibles demonstrations, and will share lessons learned and best practices that can be used as models for other states. Ms. Selter will also be moderating the “Partnershipbetween States and the Vendor Community” session.
Mr. Crouse will share his perspectives on the new Affordable Care Act (ACA) regulations for provider screening and revalidation during the “State Perspectives for Achieving Compliance with ACA and Improving Provider Enrollment” session. In light of the many new requirements for Medicaid programs related to screening and approving providers, counting periodic background and sanction checks, facility site visits and assertion of fees, Mr. Crouse will share proven strategies that Medicaid programs can leverage for improving their processes while achieving compliance.
MAXIMUS, Inc. provides business process services to government health and human services agencies in the United States, Australia, Canada, the United Kingdom, and Saudi Arabia. The company operates through two segments, Health Services and Human Services.
Finally, Capital Product Partners L.P. (NASDAQ:CPLP), ended its last trade with -4.24% loss, and closed at $6.77.
Capital Product Partners L.P., released its financial results for the second quarter ended June 30, 2015.
The Partnership’s net income for the quarter ended June 30, 2015, was $14.1 million. After taking into account the preferred interest in net income attributable to the unit holders of the 12,983,333 Class B Convertible Preferred Units outstanding as of June 30, 2015 (the “Class B Units” and the “Class B Unitholders”), the result for the quarter ended June 30, 2015, was $0.09 net income per common unit, which is in line with the $0.09 net income per common unit from the previous quarter ended March 31, 2015 and $0.05 higher than the $0.04 net income per common unit in the second quarter of 2014.
Operating surplus for the quarter ended June 30, 2015 was $31.7 million, which is $1.8 million higher than the $29.9 million from the first quarter of 2015 and $4.8 million higher than the $26.9 million of the second quarter of 2014. The operating surplus adjusted for the payment of distributions to the Class B Unitholders was $28.9 million for the quarter ended June 30, 2015. Operating surplus is a non-GAAP financial measure used by certain investors to measure the financial performance of the Partnership and other master limited partnerships. Please refer to the section “Appendix A” at the end of the press release, for a reconciliation of this non-GAAP measure to net income.
Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. It transports a range of cargoes, counting crude oil; refined oil products, such as gasoline, diesel, fuel oil and jet fuel, and edible oils; chemicals comprising ethanol; and dry cargo and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters.
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