On Monday, Telefonica Brasil SA (ADR) (NYSE:VIV)’s shares declined -2.50% to $15.59.
Telefonica Brasil SA (ADR) (VIV) declares its merged results for the first quarter of 2015. Telefonica Brasil achieved a record net operating revenue growth in 1Q15, driven by the acceleration of mobile data revenue.
Total accesses reached 97.2 million in 1Q15 of which 81.9 million in the mobile business and 15.3 million in the fixed business.
Continuous growth in postpaid accesses, +16.0% y-o-y in 1Q15. Mobile ARPU recorded y-o-y growth of 4.3% in 1Q15, fueled by the 26.3% y-o-y growth in Data ARPU.
Broadband accesses totaled 3,911 thousand in 1Q15 (-0.2% y-o-y), while the FTTH solution had 429 thousand accesses (+82% y-o-y).
Growth in TV accesses with y-o-y upturn of 22.7%. The IPTV base reached 111 thousand accesses in 1Q15.
Net operating revenue raised by 4.3% y-o-y in 1Q15, the best performance in around three years.
Mobile service revenue recorded a growth of 8.4% y-o-y. Not taking into account the effect of MTR reduction in 2015, the variation is +11.6% in 1Q15 over 1Q14.
Data and VAS revenue grew 31.3% y-o-y and already accounts for 42% of mobile service revenue in 1Q15.
Telefônica Brasil S.A. provides fixed-line telecommunications services to residential and corporate customers in Brazil. The company offers voice services, counting activation, monthly subscription, public telephones, and measured services; intraregional, interregional, and international long-distance voice services; data services comprising broadband services; mobile value added services; and Pay TV services through direct to home satellite technology, IPTV, and cable.
StemCells Inc (NASDAQ:STEM)’s shares dropped -2.07% to $0.604.
StemCells Inc (STEM) declared that administration will make a presentation on the Company’s programs, pipeline and operations at the 2015 Marcum MicroCap Conference. Administration is planned to speak at 1:30 p.m. Eastern Daylight Time on Thursday, May 28, at The Grand Hyatt New York Hotel, in the Imperial room, located at 109 E 42nd Street in New York City.
StemCells, Inc., a biopharmaceutical company, researches, develops, and commercializes cell-based therapeutics and related technologies for stem cell-based research and drug discovery and development.
At the end of Monday’s trade, Ambev SA (ADR) (NYSE:ABEV)‘s shares dipped -2.45% to $6.38.
Ambev SA (ADR) (ABEV) declares its results for the 2015 first quarter. The following operating and financial information, unless otherwise indicated, is presented in nominal Reais and prepared according to International Financial Reporting Standards (IFRS), and should be read together with our quarterly financial information for the three-month period ended March 31, 2015 filed with the CVM and presented to the SEC.
Operating and Financial Highlights
Top line performance: Net revenues raised 14.5% in the 1Q15, driven by solid top line growth in all of our operations (Brazil +10.7%, Central America and the Caribbean +26.4%, LAS +27.8% and Canada +6.0%). This performance is explained by (i) a volume growth of 0.4%, with positive contributions in Brazil Beer (+0.4%), Central America and the Caribbean (+22.6%) and Canada (+1.4%), partially offset by a decline in Brazil CSD & NANC (-2.2%) and LAS (-1.4%); coupled with (ii) Net Revenue per hectoliter (NR/hl) enhance of 14.0%, driven by our revenue administration initiatives, the benefit of premium mix and the raised weight of direct distribution in Brazil.
Cost of Goods Sold (COGS): COGS raised 15.1%, whereas on a per hectoliter basis, costs raised 14.6%, influenced by inflationary pressures in Brazil and Argentina, unfavorable currency hedges, product mix and higher depreciation, partially offset by the benefit of procurement savings initiatives and better commodities hedges.
Selling, General & Administrative (SG&A) expenses: SG&A expenses (not taking into account depreciation and amortization) were up 11.9% in the quarter, mainly as a result of double digits growth of distribution expenses, driven by inflation and the raised weight of direct distribution in Brazil. Regarding sales & marketing expenses, we continue to invest behind our brands but started to benefit from the higher comparable base related to the investments associated with the 2014 FIFA World Cup event.
Ambev S.A., through its auxiliaries, produces, distributes, and sells beer, draft beer, soft drinks, other non-alcoholic beverages, malt, and food in the Americas. The company operates through Latin America North, Latin America South, and Canada segments.
Comstock Resources Inc (NYSE:CRK), ended its Monday’s trading session with -2.41% loss, and closed at $4.05.
Comstock Resources Inc (CRK) stated financial and operating results for the three months ended March 31, 2015.
Financial Results for the Three Months Ended March 31, 2015
Comstock stated a net loss of $78.5 million or $1.71 per share for the first quarter of 2015 as contrast to net income of $1.2 million or 2¢ per diluted share for the first quarter of 2014. The first quarter 2015 results comprise impairments on unevaluated acreage and oil and gas properties of $40.8 million ($26.5 million after tax or 58¢ per share), drilling rig termination fees of $1.8 million ($1.2 million after tax or 3¢ per share) and a net loss on extinguishment of debt of $2.7 million ($1.8 million after tax or 4¢ per share). Financial results for the first quarter of 2014 comprised of an unrealized loss from derivative financial instruments of $3.6 million ($2.4 million after tax or 6¢ per share). Not taking into account these items from each year`s results, the net loss for the first quarter of 2015 would have been $49.0 million or $1.06 per share as contrast to net income of $3.6 million or 8¢ per diluted share in the first quarter of 2014.
2015 First Quarter Drilling Results
Comstock stated the results to date of its 2015 drilling program. During the first three months of 2015, Comstock spent $123.2 million on its development and exploration activities and $1.7 million on acreage and other acquisition costs. Comstock drilled five horizontal oil wells (4.0 net), two horizontal gas wells (2.0 net) and had two wells (1.8 net) drilling at March 31, 2015. With the continuation of low oil and natural gas prices, Comstock released one of its operated drilling rigs and presently anticipates spending about $122 million on development and exploration during the last three quarters of 2015 with activity primarily focused on its Haynesville shale properties in North Louisiana.
Comstock Resources, Inc., an independent energy company, acquires, develops, explores, and produces oil and natural gas properties in the United States. Its oil and gas operations are primarily located in East Texas/North Louisiana and South Texas.
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