On Friday, Shares of Forum Energy Technologies Inc (NYSE:FET), lost -3.06% to $14.58.
Forum Energy Technologies, declared second quarter 2015 revenue of $284 million, a decrease of $144 million, or 34%, from the second quarter 2014. Net income for the quarter was $9 million or $0.10 per diluted share contrast to $40 million or $0.41 per diluted share for the preceding year period. Not taking into account $0.06 per share of non-operational items, adjusted diluted earnings per share were $0.16 in the second quarter 2015. Non-operational items for the quarter comprised of primarily a foreign exchange loss1 and a restructuring charge. See Table I for a reconciliation of GAAP to non-GAAP financial information.
Second Quarter Results by Segment
Drilling & Subsea
Drilling & Subsea segment revenue in the second quarter 2015 was $170 million, a decrease of $110 million, or 39%, from the second quarter 2014. The revenue decline was due to lower drilling activity levels as reflected by the 51% drop in the North America land rig count for the same period. Additionally, reduced capital spending in the subsea sector influenced results contrast to the preceding year quarter.
Forum Energy Technologies, Inc. designs, manufactures, and distributes products to the oil and natural gas industry in the United States and internationally. The company operates in two segments, Drilling & Subsea, and Production & Infrastructure.
Shares of Allison Transmission Holdings Inc (NYSE:ALSN), declined -0.17% to $29.41, during its last trading session.
Allison Transmission Holdings declared that its board of directors declared a cash dividend of $0.15 per share on the Company’s common stock for the third quarter of 2015. Payment will be made on August 28, 2015, to stockholders of record at the close of business on August 17, 2015.
The payment of any future dividends will be at the discretion of the board of directors and will be dependent upon Allison Transmission’s financial position, results of operations, accessible cash, cash flow, capital requirements, and other factors deemed relevant by the board of directors.
Allison Transmission Holdings, Inc., together with its auxiliaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles.
At the end of Friday’s trade, Shares of Lannett Company, Inc. (NYSE:LCI), lost -2.97% to $54.83.
Lannett Company, declared that the company will present at the Canaccord Genuity 35th Annual Growth Conference on Wednesday, August 12, 2015, at 2 p.m. Eastern at the InterContinental Boston Hotel.
Lannett Company, Inc. develops, manufactures, packages, markets, and distributes generic versions of branded pharmaceutical products in the United States. It offers solid oral, extended release, topical, and oral solution finished dosage forms of drugs that address a range of therapeutic areas.
Finally, 2U Inc (NASDAQ:TWOU), ended its last trade with 19.53% gain, and closed at $38.31.
2U, declared that Chief Financial Officer Cathy Graham will speak at two technology-focused investor conferences next week. 2U is a leading provider of cloud-based software-as-a-service technology fused with technology-enabled services that enables leading nonprofit colleges and universities to deliver high-quality degree programs online.
On Monday, August 10, Graham will speak at the 17th Annual Pacific Crest Global Technology Leadership Forum held at the Sonnenalp Hotel in Vail, Colorado at 10 a.m. MDT (12 p.m. EDT).
2U, Inc. provides cloud-based software-as-a-service (SaaS) solutions for nonprofit colleges and universities to deliver education to qualified students. Its cloud-based SaaS platform solutions comprise online campus, an online learning platform that enables its clients to offer educational content together with instructor-led classes in a live, intimate, and engaging setting through proprietary Web-based and mobile applications; and content administration system, which enables its clients to author, review, and deploy asynchronous content into their online programs.
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