On Tuesday, Shares of TRI Pointe Group Inc (NYSE:TPH), gained 2.24% to $15.49.
TRI Pointe Group, declared results for the second quarter ended June 30, 2015.
Results and Operational Data for Second Quarter 2015 and Comparisons to Second Quarter 2014
- Net income accessible to common shareholders was $54.9 million, or $0.34 per diluted share contrast to $24.2 million, or $0.19 per diluted share
- New home orders raised to 1,238 contrast to 763, an enhance of 62%
- Active selling communities averaged 119.5 contrast to 97.5
- New home orders per average selling community were 10.4 orders (3.5 monthly) contrast to 7.8 orders (2.6 monthly), an enhance of 33%
- Cancellation rate was compriseent at 16%
- Backlog units of 1,998 homes with a dollar value enhance of 79%, to $1.2 billion
- Average sales price in backlog raised 7% to $601,000
- Home sales revenue of $427.2 million, an enhance of 38%
- New homes deliveries of 798, up 27%
- Average sales price of homes delivered grew 9% to $535,000
- Homebuilding gross margin percentage of 20.0%
- Not taking into account interest, impairments and lot option abandonments, adjusted homebuilding gross margin percentage was 22.0%*
- Land and lot sales gross margin percentage of 82.9%
- SG&A expense as a percentage of homes sales revenue improved to 12.6% contrast to 13.6%
- Ratios of debt and net debt to capital of 46.0% and 43.5%, respectively, at June 30, 2015*
- Cash of $121.9 million and availability under unsecured revolving credit facility of $141.1 million
TRI Pointe Group, Inc., through its partner, TRI Pointe Homes, Inc. designs, constructs, and sellssingle-family homes in the United States. The company also develops and sells land andlots.
Shares of Microchip Technology Inc. (NASDAQ:MCHP), declined -1.36% to $42.93, during its last trading session.
Microchip Technology Inc., declared a partnership with Intel to implement Intel Improved Privacy ID technology into its products. Intel EPID is a sophisticated, proven approach to device authentication that provides both security and privacy for the on-ramp to the Internet of Things (IoT).
“Microchip has long recognized the importance of security in IoT applications,” said Ian Harris, vice president of Microchip’s Computing Products Group. “Collaborating with Intel to integrate its proven Intel EPID technology demonstrates Microchip’s steadfast commitment to providing the very best IoT solutions, by working to enable designers with the safe and secure interoperation of their ‘things’ with Intel’s devices, gateways and servers.”
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers microcontrollers, such as 8-bit, 16-bit, and 32-bit microcontrollers under the PIC brand name; and 16-bit dsPIC digital signal controllers, in addition to provides microcontrollers for automotive networking, computing, lighting, power supplies, wireless communication, and wireless audio applications.
At the end of Tuesday’s trade, Shares of Globalstar, Inc. (NYSEMKT:GSAT), lost -4.30% to $1.78.
Globalstar, declared its financial and operating results for the second quarter of 2015.
SECOND QUARTER FINANCIAL REVIEW
Revenue
Total revenue was $23.0 million for the second quarter of 2015 contrast to $24.0 million for the second quarter of 2014. Raised service revenue, which resulted from 12% growth in the total subscriber base, was offset by a decrease in revenue generated from equipment sales due to a combination of reduced selling prices for our Duplex equipment ahead of the transition to second-generation products and reduced shipments of commercial Simplex products contrast to the second quarter of 2014. In the second quarter of 2014, we shipped 6,000 SmartOne B units to a Simplex customer reselling into Ecuador; there was no corresponding sale in 2015. The material appreciation of the U.S. dollar since mid-2014 continues to impact negatively revenue as our international auxiliaries’ revenue is now converted at lower exchange rates contrast to the second quarter of 2014. Total revenue would have been about $1.2 million higher during the second quarter of 2015 if there had been no change in foreign exchange rates from the second quarter of 2014.
Service revenue was $18.6 million for the second quarter of 2015 contrast to $17.9 million for the second quarter of 2014. The slight enhance in Duplex service revenue despite a 20% enhance in our average Duplex subscriber base was due primarily to comparatively lower ARPU. The decrease in ARPU was driven by changes in foreign exchange rates (as talk abouted above) and changes in the rate plans selected by our subscribers. Since June 30, 2014, nearly 90% of the net subscribers added to our network have selected a prepaid usage based rate plan, which generally results in revenue being deferred through the contract term. This contributed 60% to the decline in ARPU. Deferred revenue related to subscribers on prepaid usage based rate plans was $4.6 million as of June 30, 2015, an enhance of $1.7 million from June 30, 2014. SPOT service revenue raised $1.3 million, or 19%, during the second quarter of 2015 contrast to the second quarter of 2014. This enhance resulted from an 11% enhance in the average subscriber base and a 7% enhance in ARPU. The enhance in SPOT ARPU was caused primarily by the noteworthy number of SPOT Gen3(R) sales over the past 12 months, which were sold with a higher average annual rate plan. Noteworthy expansion in new and existing international markets drove the growth in SPOT subscribers. The average number of our Simplex subscribers also grew, increasing by 14% from the quarter ended June 30, 2014 to the quarter ended June 30, 2015. The enhances in Duplex, SPOT and Simplex service revenue were offset partially by a decrease in other service revenue resulting from a reduction in wholesale, third-party revenue and lower revenue generated from government contracts.
Globalstar, Inc. provides mobile voice and data communications services through satellite worldwide. The company offers duplex two-way voice and data products, counting mobile voice and data satellite communications services and equipment for remote business continuity, recreational, emergency response, and other applications; fixed voice and data satellite communications services and equipment in rural villages, ships, industrial and commercial sites, and residential sites; and satellite data modem services comprising asynchronous and packet data services.
Finally, Prospect Capital Corporation (NASDAQ:PSEC), ended its last trade with -0.81% loss, and closed at $7.33.
Prospect Capital Corporation (NASDAQ: PSEC) declared that it anticipates to file with the Securities and Exchange Commission its report on Form 10-K containing its fiscal year results for the year ended June 30, 2015 on Wednesday, August 26, 2015 after the close of the markets. The Company also anticipates issuing its earnings press release on Wednesday, August 26, 2015 after the close of the markets.
The Company will host a conference call on Thursday, August 27, 2015 at 11:00 a.m. Eastern Time.
Prospect Capital Corporation is a financial services company that primarily lends to and invests in middle market privately-held companies. The Company is a closed-end investment company which invests primarily in first and second lien secured loans and unsecured debt, senior and subordinated debt and equity of companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.
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