On Wednesday, in the course of current trade, Shares of Verizon Communications Inc. (NYSE:VZ), climbed 0.11%, and is now trading at $46.72.
The Atlanta Falcons and Verizon Wireless have teamed up to launch a city-wide Pass It Forward community campaign. During the season-long program Falcons players, cheerleaders and mascot will surprise Atlantans across the city with random acts of kindness at various retail and public locations. The aim is to create a positive social movement that starts with these events, encouraging recipients to “pass it forward.” In turn, Atlantans will be encouraged to share their own personal random acts of kindness using the hashtags #VerizonATL and #RiseUp.
The campaign, which will kick off on Wednesday, August 5, will comprise multiple events throughout the preseason and regular season, running through December 2015. During each stop, representatives from Verizon and the Falcons will undertake a variety of activities, counting signing autographs, taking pictures and supporting the activities at the chosen location.
Verizon Communications Inc., through its auxiliaries, provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide.
During an Afternoon trade, Shares of Infinera Corp. (NASDAQ:INFN), climbed 0.38%, and is now trading at $23.99.
Infinera Corporation, released financial results for the second quarter of 2015 ended June 27, 2015.
Revenue for the quarter was $207.3 million contrast to $186.9 million in the first quarter of 2015 and $165.4 million in the second 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.
Finally, I.D. Systems, Inc. (NASDAQ:IDSY), gained 0.76% Wednesday.
I.D. Systems, stated results for the second quarter ended June 30, 2015.
Second Quarter 2015 Financial Highlights
- Revenue reduced 13% to $9.9 million from $11.4 million in the second quarter of 2014, primarily due to a 32% decrease in vehicle administration systems (VMS) revenue as the company transitioned sales and deployments to its new VAC4 product and pricing model. The decline was partially offset by a 16% enhance in service revenue totaling $4.9 million, which was primarily the result of higher revenue from VMS services associated with the new pricing.
- Recurring revenue raised 4% to $4.7 million, or 47% of total revenue in the second quarter, as contrast to $4.5 million, or 39% of total revenue in the year-ago quarter. The transition to VMS solutions based on a recurring revenue model is predictable to continue to enhance recurring revenue.
- Gross margin was 42% contrast to 45% in the second quarter of 2014. The year-over-year decrease was primarily attributable to higher VMS installation costs and the VAC4 SaaS-based pricing model, which has a lower upfront price. As illustrated by the sequential improvement from Q1 2015, gross margin is predictable to continue to improve as unit sales enhance and customers sign long-term higher margin service contracts.
- Selling, general and administrative (SG&A) expenses raised 10% to $6.2 million from $5.7 million in the second quarter of 2014. The enhance was primarily due to higher payroll-related expenses and stock-based compensation expense, partially offset by lower amortization expenses. Also, the company made the planned decision to invest the time and training required to retune VAC4 and make it a more universally deployable product.
- Research and development expenses reduced 17% to $1.1 million from $1.3 million in the second quarter of 2014, primarily due to the completion of several product development-related ‘I.D. Systems 2.0’ initiatives.
- Not taking into account stock-based compensation, depreciation and amortization, and other non-recurring items, non-GAAP net loss totaled $2.6 million, or $(0.21) per basic and diluted share, contrast to non-GAAP net loss of $1.1 million, or $(0.09) per basic and diluted share, in the same period a year ago.
- Net loss totaled $3.1 million, or $(0.25) per basic and diluted share, contrast to a net loss of $1.7 million, or $(0.14) per basic and diluted share in the second quarter of 2014.
- As of June 30, 2015, the company had $6.9 million in cash, cash equivalents and marketable securities, and no debt, which is down $4.1 million from the previous quarter end. However, the company’s refocused go-to-market strategy described below is aimed at increasing sales in the second half in order to reduce inventory, which, when combined with the decrease in headcount and predictable collections on existing accounts receivable, the company anticipates to reduce its cash consumption.
I.D. Systems, Inc. develops, markets, and sells wireless machine-to-machine solutions in the United States and internationally. The company offers integrated wireless solutions that utilize radio frequency identification, Wi-Fi, satellite or cellular communications, sensor technologies, and software to control, track, monitor, and analyze industrial vehicles, transportation assets, and rental vehicles.
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