On Friday, Shares of Endologix Inc. (NASDAQ:ELGX), dropped -1.22% to $15.37.
Endologix, declared financial results for the three months ended March 31, 2015.
Financial Results
Global revenue in the first quarter of 2015 was $36.7 million, a 10% enhance from $33.3 million in the first quarter of 2014. On a constant currency basis first quarter revenue raised 15%.
U.S. revenue in the first quarter of 2015 was $25.1 million, a 5% enhance contrast with $24.0 million in the first quarter of 2014. International revenue was $11.5 million, a 24% enhance contrast to $9.3 million in the first quarter of 2014. The international sales enhance was primarily attributable to strong sales growth in Europe, with European revenue of $7.2 million, a 10% enhance as contrast to $6.6 million in the first quarter of 2014, and 32% growth on a constant currency basis.
Gross profit was $26.9 million in the first quarter of 2015, which represents a gross margin of 73.4%, contrast to gross margin of 73.0% in the first quarter of 2014. The enhance in gross margin was primarily driven by operational efficiencies created by raised production volume.
Total operating expenses were $36.6 million in the first quarter of 2015, contrast to $29.6 million in the first quarter of 2014. The enhance in operating expenses was driven primarily by expansion of sales and clinical personnel in the U.S. and Europe and by research, development, clinical and regulatory expenses.
Endologix stated a net loss for the first quarter of 2015 of $11.2 million, or $(0.17) per share, contrast with a net income of $5.3 million, or $0.08 per share, for the first quarter of 2014. The first quarter 2015 net loss comprises Nellix contingent consideration, interest expense, foreign currency loss and business development expenses of $1.9 million, while the first quarter 2014 comprised of other income of $10.8 million, or $0.17 per share, primarily Nellix contingent consideration. Endologix stated Adjusted Net Loss for the first quarter of 2015 of $9.3 million, or $(0.14) per share, contrast with an Adjusted Net Loss for the first quarter of 2014 of $5.5 million, or $(0.09) per share.
Total cash, cash equivalents and marketable securities were $73.7 million as of March 31, 2015, contrast to $86.7 million as of December 31, 2014.
Endologix, Inc. develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. The company offers minimally-invasive endovascular repair (EVAR) products, counting EVAR stent graft and catheter delivery system under the brand names Powerlink, IntuiTrak, AFX, and VELA Proximal Endograft.
Shares of Fiesta Restaurant Group, Inc. (NASDAQ:FRGI), declined -1.19% to $49.95, during its last trading session.
Fiesta Restaurant Group, stated results for the first quarter 2015, which ended on March 29, 2015.
Highlights of the first quarter 2015 results as contrast to the first quarter 2014 comprise:
- Total revenues raised 12.7% to $163.9 million;
- Comparable restaurant sales raised 6.4% and comparable guest traffic raised 0.9% at Pollo Tropical;
- Comparable restaurant sales raised 3.8% and comparable guest traffic raised 0.7% at Taco Cabana;
- Net income raised 20.4% to $10.5 million;
- Earnings per diluted share raised 18.2% to $0.39; and
- Six Company-owned and operated Pollo Tropical restaurants were opened and three Company-owned Taco Cabana restaurants were closed.
During the first quarter 2015, Fiesta opened six Company-owned and operated Pollo Tropical restaurants in Florida, Georgia and Texas, and closed three Company-owned and operated Taco Cabana restaurants in Texas.
As of March 29, 2015, the Company owned and operated 130 Pollo Tropical restaurants and 164 Taco Cabana restaurants (counting two Cabana Grill restaurants) and franchised 37 Pollo Tropical restaurants in the U.S., Puerto Rico, the Bahamas, Ecuador, Guatemala, Honduras, Panama, Trinidad & Tobago, Venezuela and the Dominican Republic, and seven Taco Cabana restaurants in the U.S.
Fiesta Restaurant Group, Inc., through its auxiliaries, owns, operates, and franchises fast-casual restaurants. It operates its fast-casual restaurants under the Pollo Tropical and Taco Cabana brand names. The company’s Pollo Tropical restaurants offer various Caribbean inspired food, and Taco Cabana restaurants offer a selection of Mexican food.
At the end of Friday’s trade, Shares of Pinnacle West Capital Corporation (NYSE:PNW), dwindled -1.18% to $60.48.
Pinnacle West Capital Corporation, stated merged net income attributable to common shareholders of $16.1 million, or $0.14 per diluted share of common stock, for the quarter ended March 31, 2015. This result compares with $15.8 million, or $0.14 per diluted share, for the same period in 2014. For both the 2015 and 2014 first-quarter periods, net income is the same as on-going earnings.
The 2015 first-quarter results comparison was positively influenced by the following major factors:
- Revenue adjustors improved earnings by $0.08 per share contrast to the 2014 first quarter. These adjustors comprised of a Jan. 1, 2015, rate change reflecting acquisition of Southern California Edison’s interest in Units 4 and 5 of the Four Corners Power Plant; higher retail transmission revenues; and higher lost fixed cost recovery (LFCR).
- The effects of weather variations improved results by $0.04 per share contrast to the year-ago period despite temperatures that remained less favorable than normal. While residential heating degree-days (a measure of the effects of weather) were 6 percent higher than last year’s first quarter, heating degree-days were 51 percent below normal 10-year averages. As a result, weather influenced 2015 first-quarter earnings negatively by $0.06 per share contrast with historically normal conditions.
Pinnacle West Capital Corporation, through its partner, Arizona Public Service Company, provides retail and wholesale electric services primarily in the State of Arizona. It generates, transmits, and distributes electricity using coal, nuclear, gas, oil, and solar resources.
Finally, Suncor Energy Inc. (NYSE:SU), ended its last trade with -1.17% loss, and closed at $32.22.
Suncor Energy, recorded first quarter 2015 operating earnings of $175 million ($0.12 per common share) and cash flow from operations of $1.475 billion ($1.02 per common share), contrast to $1.793 billion ($1.22 per common share) and $2.880 billion ($1.96 per common share), respectively, in the preceding year quarter, reflecting the lower crude oil price environment. Highlights of the first quarter comprised of record Oil Sands operations production, higher Exploration and Production (E&P) production, and strong refinery utilization. For the twelve months ended March 31, 2015, free cash flow reduced to $856 million, contrast to $3.226 billion for the twelve months ended March 31, 2014.
A net loss of $341 million ($0.24 per common share) was recorded in the first quarter of 2015, contrast with net earnings of $1.485 billion ($1.01 per common share) for the preceding year quarter. The net loss for the first quarter of 2015 was influenced by the same factors that influenced operating earnings described above and also comprised of the impact of an after-tax foreign exchange loss on the revaluation of U.S. dollar denominated debt of $940 million, contrast to an after-tax foreign exchange loss of $308 million in the preceding year quarter. In addition, during the first quarter of 2015, the United Kingdom (U.K.) government enacted a decrease in the tax rate on oil and gas profits in the North Sea that reduced the rate on Suncor’s earnings in the U.K. from 62% to 50%. As a result, the company revalued its deferred income tax balances, resulting in a deferred tax recovery of $406 million. The net loss in the first quarter of 2015 was also influenced by proceeds from a Terra Nova after-tax insurance claim of $75 million and after-tax restructuring costs of $57 million related to the formerly declared cost reduction initiatives.
Suncor Energy Inc. operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada’s Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada; and markets third party petroleum products.
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