On Friday, Beneficial Bancorp Inc (NASDAQ:BNCL)’s shares inclined 2.36% to $13.00.
Beneficial Bancorp, Inc. (BNCL), the parent company of Beneficial Bank (the “Bank”), today announced its financial results for the three and six months ended June 30, 2015. Beneficial recorded net income of $7.1 million and $12.3 million, or $0.09 and $0.16 per diluted share, for the three and six months ended June 30, 2015, respectively, compared to net income of $4.6 million and $7.0 million, or $0.06 and $0.09 per diluted share, for the three and six months ended June 30, 2014.
Highlights for the three and six months ended June 30, 2015 are as follows:
- Net income increased 54.2% and 74.6% for the three and six months ended June 30, 2015 compared to the same periods in 2014.
- Our net interest margin improved to 2.83% for the second quarter of 2015 compared to 2.75% for the first quarter of 2015 and 2.81% for the second quarter of 2014. Loan growth, increases in non-interest bearing deposits, and reductions in higher-cost time deposits and borrowings are the primary drivers of the improvement in our net interest margin.
- Continued asset quality improvement and net loan recoveries resulted in a $1.6 million negative provision for loan losses during the three months ended June 30, 2015. Our allowance for loan losses totaled $47.8 million, or 1.76% of total loans and 124.87% of non-performing loans at June 30, 2015, compared to $49.1 million, or 1.84% of total loans and 128.70% of non-performing loans, at March 31, 2015.
Beneficial Bancorp, Inc. operates as a holding company for Beneficial Bank that provides consumer and commercial banking services to individuals, businesses, and nonprofit organizations in the greater Philadelphia and Southern New Jersey area. It accepts various deposit products, counting non-interest bearing demand deposits comprising individual checking accounts; interest-bearing demand accounts, such as NOW, municipal, and money market accounts; savings accounts; certificates of deposit; commercial checking accounts; and checking accounts for small businesses, in addition to offers cash administration services comprising of remote deposit, lockbox service, and sweep accounts.
Communications Sales & Leasing Inc (NASDAQ:CSAL)’s shares dropped -3.29% to $21.19.
Communications Sales & Leasing, Inc. (CSAL) declared that it will issue its second quarter 2015 earnings release preceding to the opening of trading on the Nasdaq Stock Exchange on Thursday, August 13, 2015. A conference call to talk about those earnings will be held the same day at 11:00 am Eastern Time (10:00 am Central Time).
Communications Sales & Leasing, Inc. operates as a real estate investment trust. It primarily engages in the acquisition and leasing of communication distribution systems. It owns 64,000 route miles of fiber, 235,000 route miles of copper, and central office land and buildings across 29 states. The company is headquartered in Little Rock, Arkansas. Communications Sales & Leasing, Inc. (CSAL.V) operates independently of Windstream Holdings, Inc. as of April 24, 2015.
At the end of Friday’s trade, Astoria Financial Corp (NYSE:AF)‘s shares surged 1.42% to $14.33.
Astoria Financial Corporation (AF) the holding company for Astoria Bank stated net income accessible to common shareholders of $29.2 million, or $0.29 diluted earnings per common share (“diluted EPS”), for the quarter ended June 30, 2015, contrast to net income accessible to common shareholders of $20.1 million, or $0.20 diluted EPS, for the quarter ended June 30, 2014. For the six months ended June 30, 2015, net income accessible to common shareholders totaled $46.4 million, or $0.46 diluted EPS contrast to $49.5 million, or $0.50 diluted EPS, for the comparable 2014 period. Comprised of in the 2015 second quarter and six month results is a reduction in income tax expense of $11.4 million ($0.11 per common share) related to the impact of income tax legislation enacted in the second quarter of 2015, primarily as applicable to New York City. Comprised of in the 2014 second quarter results was a $5.7 million loan loss release ($3.7 million or $0.04 per common share, after tax) resulting from the designation of non-performing residential mortgage loans as held-for-sale. Also comprised of in the 2014 six month results was a reduction in income tax expense of $11.5 million ($0.12 per common share) related to the impact of New York State income tax legislation enacted on March 31, 2014.
Astoria Financial Corporation operates as the holding company for Astoria Bank that provides various financial products and services to individuals and businesses in the United States. The company accepts various deposit products, counting passbook and statement savings accounts, money market accounts, NOW and demand deposit accounts, and certificates of deposit.
Abaxis Inc (NASDAQ:ABAX), ended its Friday’s trading session with -12.27% loss, and closed at $48.83.
Abaxis, Inc. (ABAX), a medical products company manufacturing point-of-care blood analysis systems, today reported financial results for the first fiscal quarter ended June 30, 2015.
First quarter overview:
- Revenues from continuing operations of $53.1 million, up 21% over last year’s comparable quarter.
- Diluted EPS from continuing operations of $0.31, up 35% over last year’s comparable quarter.
- Diluted EPS, including discontinued operations, of $0.31, up 48% over last year’s comparable quarter.
Revenues highlights:
- North America revenues from continuing operations of $42.3 million, up 21% over last year’s comparable quarter.
- International revenues of $10.8 million, up 18% over last year’s comparable quarter.
- Medical market revenues of $8.7 million, up 20% over last year’s comparable quarter.
- Veterinary market revenues of $43.6 million, up 21% over last year’s comparable quarter.
- Total medical and veterinary instrument revenues of $8.7 million, up 15% over last year’s comparable quarter.
- Total medical and veterinary instrument sales of 1,322 units, up 23% over last year’s comparable quarter.
- Total medical and veterinary reagent disc revenues of $30.4 million, up 13% over last year’s comparable quarter.
Abaxis, Inc. develops, manufactures, markets, and sells portable blood analysis systems for use in human or veterinary patient care settings to provide blood constituent measurements for clinicians worldwide. It operates in two segments, Medical Market and Veterinary Market. The company offers Piccolo Xpress chemistry analyzers with blood constituent measurements for use in human patient care; and Piccolo profiles that are single-use medical reagents.
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