During Friday’s current trade, Quantum Corporation (NYSE:QTM)’s shares gained 20.13%, and is now trading at $1.79, hitting new 52-week high of $1.85, after Quantum declared positive preliminary results for the fiscal fourth quarter 2015 ended March 31, 2015 (unless otherwise noted, all comparisons are relative to the fiscal fourth quarter 2014):
- Total proceed was in excess of $145 million, significantly above the company’s January guidance range of $130 million to $135 million. This was also up from $128 million in the preceding year period.
- Total branded proceed was more than $120 million, up from $102 million, as Quantum accomplished fiscal 2015 with year-over-year branded proceed growth in all four quarters.
- Scale-out storage and related service proceed was over $30 million, an raise of more than $15 million.
- DXi and related service proceed was about $25 million, up nearly 30 percent.
- GAAP operating revenue was about $2 million, contrast to a GAAP operating loss of $12 million.
- GAAP net revenue was about $12 million, or about $0.04 per diluted share. This comprised of about $13 million from the gain on sale of Quantum’s investment in a privately held company. In the preceding year, Quantum stated a GAAP net loss of $14 million, or $0.06 per diluted share.
- Non-GAAP operating revenue was about $6 million, up from an operating loss of $159,000.
- Non-GAAP net revenue was about $17 million, or about $0.06 per diluted share. This was up from a net loss of $2 million, or $0.01 per diluted share, and again comprised of about $13 million resulting from the gain on sale of Quantum’s investment in a privately held company.
- Total cash and cash equivalents were about $70 million as of March 31, 2015, and reflected the early repurchase of $50 million of convertible notes due November 2015 in an all-cash transaction during the quarter.
Quantum Corporation provides scale-out storage, archive, and data protection solutions for small businesses to major enterprises in the Americas, Europe, and the Asia Pacific.
During an early morning trade, Excel Trust, Inc. (NYSE:EXL)’s shares climbed 14.23%, and is now trading at $15.81, hitting new 52-week high of $15.89, following the news that Excel declared that it has reached a definitive contract with Blackstone Property Partners L.P., under which Blackstone will attain all outstanding shares of ordinary stock of Excel Trust for $15.85 per share in an all-cash transaction valued at about $2 billion.
The transaction has been unanimously approved by Excel Trust’s Board of Directors and represents a premium of nearly 15% over the Company’s closing stock price on April 9, 2015. In addition to the ordinary stock dividend of $0.18 per share payable on April 15, 2015, Excel Trust intends to pay an additional ordinary stock dividend in July 2015, but, under the terms of the contract, not for any quarter thereafter.
Excel Trust, Inc. engages in financing, developing, leasing, owning and managing community and power centers, grocery anchored neighborhood centers and freestanding retail properties. The company was founded in 2009 and is based in San Diego, California.
China Ceramics Co., Ltd. (NASDAQ:CCCL), during its Friday’s current trading session gained 15.69%, and is now trading at $1.40, after a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, declared it will conduct a conference call at 8:00 am Eastern Time on Tuesday, April 14, 2015 to talk about its financial results for the fourth quarter and fiscal year ended December 31, 2014.
The Fourth Quarter and Fiscal Year End Earnings 2014 Release will be accessible preceding to the Company’s Earnings Call on the Investor Relations page of the China Ceramics’ website at: http://www.cceramics.com/Press-Releases.html.
China Ceramics Co., Ltd. manufactures and sells ceramic tiles for exterior siding and interior flooring, and design in residential and commercial buildings in the People’s Republic of China and internationally.
Finally, General Electric Company (NYSE:GE), gained 8.69% Friday, hitting new 52-week high of $28.00, as an infrastructure and financial services company, today declared that it will create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its world-class industrial businesses.
GE and its Board of Directors have determined that market conditions are favorable to pursue disposition of most GE Capital assets over the next 24 months except the financing “verticals” that relate to GE’s industrial businesses. Under the plan, the GE Capital businesses that will remain with GE will account for about $90 billion in ending net investments (ENI) not including liquidity – about $40 billion in the U.S. – with predictable returns in excess of their cost of capital.
As part of the execution of this new plan, GE declared recently an contract to sell the bulk of the assets of GE Capital Real Estate to funds managed by Blackstone. Wells Fargo will attain a portion of the performing loans at closing. The Company also has letters of intent with other buyers for an additional $4 billion of commercial real estate assets. In total, these transactions are valued at about $26.5 billion.
Under the plan, GE anticipates that by 2018 more than 90 percent of its earnings will be generated by its high-return industrial businesses, up from 58% in 2014.
General Electric Company (GE) operates as an infrastructure and financial services company worldwide. The company’s Power and Water segment offers gas, steam and aeroderivative turbines, nuclear reactors, generators, combined cycle systems, controls, and related services; wind turbines; and water treatment services and equipment.
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