During Thursday’s Current trade, Shares of Fortress Investment Group LLC (NYSE:FIG), gain 1.60% to $5.73.
Fortress Investment Group LLC (FIG) stated its second quarter 2015 financial results.
FINANCIAL SUMMARY
- Fortress declares a cash dividend of $0.08 per dividend paying share for the second quarter of 2015
- Administration Fee Paying Assets Under Administration (“AUM”) of $72.0 billion as of June 30, 2015, an enhance of 3% from the previous quarter and an enhance of 13% from June 30, 2014
- GAAP net income of $5 million, or $0.00 per diluted Class A share, for the second quarter of 2015, contrast to GAAP net income of $73 million, or $0.12 per diluted Class A share, for the second quarter of 2014
- Pre-tax distributable earnings (“DE”) of $137 million, or $0.30 per dividend paying share, for the second quarter of 2015, contrast to pre-tax DE of $172 million, or $0.39 per dividend paying share for the second quarter of 2014
Fortress Investment Group LLC is a publicly owned investment manager. The firm provides its services to pooled investment vehicles, pension and profit sharing plans, corporations, institutional managed accounts and structured products, banking or thrift institutions, investment companies, charitable organizations, and state or municipal government entities.
Shares of Enbridge Inc (USA) (NYSE:ENB), inclined 2.62% to $40.81, during its current trading session.
Enbridge Inc. (ENB) declared it has closed the transfer of its Canadian Liquids Pipeline Business and certain Canadian renewable energy assets (the “Transaction”) to Enbridge Income Fund (the “Fund”) for consideration of $30.4 billion plus additional incentive rights, as set out in the terms of a contract declared June 19, 2015.
The Transaction is a key component of Enbridge’s Financial Strategy Optimization introduced in December of last year, which comprised of an enhance to the Company’s targeted dividend payout. It advances the Company’s sponsored vehicle strategy and supports Enbridge’s formerly declared 33 percent dividend enhance in 2015 and predictable annual average dividend per share growth of 14 to 16 percent from 2016 through 2018. The Transaction is predictable to provide Enbridge with an alternate source of funding for its $44-billion enterprise-wide growth capital program and enhance its competitiveness in the pursuit of new organic growth opportunities and asset acquisitions.
Enbridge Inc. operates as an energy transportation and distribution company in the United States and Canada. Its Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals. The company’s Gas Distribution segment operates as a natural gas utility that serves residential, commercial, and industrial customers in Central and Eastern Ontario, and Northern New York State, in addition to in Quebec and New Brunswick. Its Gas Pipelines, Processing and Energy Services segment has interests in natural gas pipelines, counting the Vector Pipeline and transmission and gathering pipelines in the Gulf of Mexico, in addition to holds an interest in Aux Sable, a natural gas fractionation and extraction facility. This segment is also involved in the renewable energy projects, such as wind, solar, and geothermal projects with a generating capacity of about 2,200 MW.
McKesson Corporation (NYSE:MCK), during its Thursday’s current trading session gained 0.64% to $198.26.
Seal Software, the leading provider of Contract Discovery and Analytics solutions, recently declared that McKesson has gone live on its platform to gain unprecedented visibility into its contracts and reveal key business insights. Ranked 11th among the Fortune 500 with more than $179 billion in annual revenue, McKesson has played a critical role in shaping the design and direction of modern health care since its founding in 1833. Recently, McKesson relies on Seal Software across lines of business to achieve a clear view into thousands of contracts, make strides in process efficiency, and quickly identify contract obligations, risks, and opportunities.
Over the past 180 years, McKesson has improved how the business of health care runs by setting new standards for the industry’s supply chain. The global company delivers vital pharmaceuticals and medicines, medical supplies, and information technology solutions that touch the lives of patients across the globe.
As the landscape of health care continues to evolve, the mountain of contracts keeping everything running has multiplied exponentially, posing a noteworthy challenge for organizations like McKesson to have clear insight into their business transactions and relationships at all times.
McKesson Corporation delivers pharmaceuticals, medical supplies, and health care information technologies to the healthcare industry in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions.
Finally, AeroVironment, Inc. (NASDAQ:AVAV), decreased -0.86%, to $21.08.
AeroVironment, Inc. (AVAV) stated financial results for its fourth quarter ended April 30, 2015.
FISCAL 2015 FOURTH QUARTER RESULTS
Revenue for the fourth quarter of fiscal 2015 was $86.5 million, up 18% from fourth quarter fiscal 2014 revenue of $73.5 million. The enhance in revenue resulted from raised sales in our Unmanned Aircraft Systems (UAS) segment of $18.7 million offset by a decrease in sales in our Efficient Energy Systems (EES) segment of $5.7 million.
Gross margin for the fourth quarter of fiscal 2015 was $45.4 million, up 50% from fourth quarter fiscal 2014 gross margin of $30.1 million. The enhance in gross margin was due to an enhance in product margin of $9.7 million and service margin of $5.5 million. As a percentage of revenue, gross margin raised to 52% from 41%.
Income from operations for the fourth quarter of fiscal 2015 was $7.5 million contrast to income from operations for the fourth quarter of fiscal 2014 of $6.9 million. The enhance in income from operations was a result of an enhance in gross margin of $15.2 million and a decrease in selling, general & administrative (SG&A) expense of $1.3 million, offset by an enhance in research and development (R&D) of $16.0 million.
Other expense, net, for the fourth quarter of fiscal 2015 was $0.5 million contrast to other income, net, for the fourth quarter of fiscal 2014 of $2.9 million. The decrease was primarily due to the fourth quarter of fiscal 2014 counting a $2.8 million enhance in fair value of the embedded conversion feature of our convertible bond investment. During the fourth quarter of fiscal 2015, we did not have any convertible bond investments.
AeroVironment, Inc. designs, develops, produces, supports, and operates unmanned aircraft systems (UAS), tactical missile systems, and efficient energy systems in the United States and internationally. It operates in two segments, Unmanned Aircraft Systems and Efficient Energy Systems. It offers small UAS that provides ISR and communications, counting real-time tactical reconnaissance, tracking, combat assessment, and geographic data to the small tactical unit or individual operator.
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