During Friday’s Morning trade, Shares of High power International Inc (NASDAQ:HPJ), gained 0.87% to $2.31.
Highpower International, declared its financial results for the third quarter and nine months ended September 30, 2015.
2015 Third Quarter Operating and Financial Highlights (all results are contrast to preceding year period)
- Net sales were $37.6 million contrast to $44.5 million.
- Lithium battery net sales were $17.0 million contrast to $21.1 million. Nickel-metal hydride (Ni-MH) net sales were $20.1 million contrast to $22.5 million.
- Gross margin was 19.2% contrast to 21.1%.
- EBITDA was $3.9 million, an improvement of 52.3%, from $2.6 million; Adjusted EBITDA was $3.6 million contrast to $4.0 million.
- Net income attributable to the Company was $1.9 million, or $0.13 per diluted share, an improvement of 122.3% from net income of $874,167, or $0.06 per diluted share; non-GAAP net income attributable to the Company was $1.6 million, or $0.10 per diluted share, contrast to $2.3 million, or $0.15 per diluted share.
- Highpower International anticipates its total net sales for the full year of 2015 to be between $142.0 million and $146.0 million and both GAAP and non-GAAP net income to be between $4.0 and 5.0 million.
Highpower International, Inc. manufactures and trades in nickel metal hydride rechargeable batteries used to power various portable electronic devices. It produces consumer batteries in A, AA, and AAA sizes in blister packing, in addition to chargers and battery packs; and industrial batteries, which are designed for electric bikes, power tools, and electric toys.
Shares of Rave Restaurant Group Inc (NASDAQ:RAVE), declined -7.50% to $6.10, during its current trading session.
Dallas-based Pie Five Pizza is bringing the heat to the Sunshine State with another Florida development deal with up to 20 new locations in the Tampa market with DP5 Investments. In September, the leading fast casual pizza chain known for artisan pizzas created and served in under 5 minutes declared a 28-store deal in South Florida and is now adding the Tampa market with the same group.
“Florida’s west coast deserves artisan make-your-own pies with fresh ingredients, homemade sauces and handcrafted crusts too,” said Jeffrey Parker, franchise development partner with DP5 Investments. “We felt like Tampa was a natural expansion of the brand in the Florida market!”
As a former second generation McDonald’s franchisee, Parker and his partners with DP5 Investments bring substantial multi-unit restaurant operations experience to the table. The group is looking for initial sites in Temple Terrace, New Tampa together with Clearwater and St. Petersburg.
Rave Restaurant Group, Inc., together with its auxiliaries, operates and franchises pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn trademark in the United States and internationally. It operates in two segments, Franchising and Food and Supply Distribution, and Company-Owned Restaurants.
Finally, Shares of Ignite Restaurant Group Inc (NASDAQ:IRG), gained 3.07%, and is now trading at $3.69.
Joe’s Crab Shack has been testing a new service model which brings an end to tipping for guests. This forward-thinking policy puts the brand at the cutting edge of the casual dining industry and reflects Joe’s commitment to being both a great place to eat and to work. This test is presently being conducted in 18 locations nationwide. No timeline is in place to implement this policy nationally; the company is testing the results of this pilot program.
“It’s simple, really. We believe that consistently great service should always be comprised in the menu price, so we are taking the responsibility for paying the service staff,” said Ray Blanchette, CEO, Ignite Restaurants. “I personally believe tipping is an antiquated model and you have seen most businesses in America migrate away from it over the last 50 to 100 years.”
Joe’s guests can expect the same great food and service without the obligation to leave tips. No service charge will be added to guests’ bills to replace the gratuity. Additionally, menu prices have been adjusted slightly to account for the added labor cost but the prices are typically less than the average 20 percent service tip.
The new policy, while guest-driven, is likewise intended to benefit Joe’s staff. Servers, hosts and bartenders will be paid higher, fixed hourly wages, which is predictable to result in an improved team atmosphere, greater financial and employment security and reduced turnover.
Ignite Restaurant Group, Inc., a diversified restaurant company, operates a portfolio of restaurants in the United States. The company operates three restaurants under the Joe’s Crab Shack, Brick House Tavern + Tap, and Romano’s Macaroni Grill brands. Its restaurant offers a range of food and beverages.