On Tuesday, in the course of current trade, Shares of VASCO Data Security International Inc. (NASDAQ:VDSI), surged 7.77%, and is now trading at $26.49.
VASCO Data Security International, stated financial results for the first quarter ended March 31, 2015.
Revenue from ongoing operations for the first quarter of 2015 raised 68% to $65.1 million from $38.8 million in the first quarter of 2014. Net income from ongoing operations for the first quarter of 2015 was $13.7 million, or $0.34 per fully diluted share, an enhance of $10.1 million, or 287%, from $3.5 million, or $0.09 per fully diluted share, for the first quarter of 2014.
Net income, which comprises the impact of our suspended operations, for the first quarter of 2015 was $13.6 million, or $0.34 per diluted share. Net income for the first quarter of 2014 was $3.5 million, or $0.09 per diluted share.
Financial Highlights:
- Gross profit from ongoing operations was $37.7 million, or 58% of revenue for the first quarter of 2015. Gross profit was $25.8 million, or 66%, of revenue for the first quarter of 2014.
- Operating expenses from ongoing operations for the first quarter 2015 were $21.6 million, a decrease of 1% from $21.9 million stated for the first quarter 2014.Operating expenses for the first quarter of 2015 comprised of $1.2 million of long-term incentive compensation expenses and $1.1 million of amortization expense related to purchased intangible assets. Operating expenses for the first quarter of 2014 comprised of $0.6 million of long-term incentive compensation expenses and $1.1 million of amortization expense related to purchased intangible assets.
- Operating income from ongoing operations for the first quarter 2015 was $16.1 million, an enhance of $12.2 million, or 313%, from $3.9 million stated for the first quarter of 2014. Operating income as a percentage of revenue in the first quarter 2015 was 25% contrast to 10% in the first quarter of 2014.
- Earnings before interest, taxes, depreciation and amortization from ongoing operations were $17.3 million for the first quarter 2015, an enhance of 193% from $5.9 million stated for the first quarter of 2014.
- Net cash balances, which are defined as cash, cash equivalents and short-term investments less bank borrowings, at March 31, 2015 totaled $149.1 million contrast to $137.4 million at December 31, 2014. There were no bank borrowings at either March 31, 2015 or December 31, 2014.
VASCO Data Security International, Inc., together with its auxiliaries, designs, develops, markets, and supports hardware and software security systems that manage and secure access to information assets worldwide.
During an afternoon trade, Shares of JetBlue Airways Corporation (NASDAQ:JBLU), gained 5.58%, and is now trading at $20.81, hitting its highest level.
JetBlue Airways, stated its results for the first quarter 2015:
- Operating income of $253 million in the first quarter. This compares to operating income of $41 million in the first quarter of 2014
- Pre-tax income of $222 million in the first quarter. This compares to pre-tax income of $6 million in the first quarter of 2014.
- Net income of $137 million, or $0.40 per diluted share. This compares to JetBlue’s first quarter 2014 net income of $4 million, or $0.01 per diluted share.
Financial Performance
JetBlue stated record first quarter operating revenues of $1.5 billion. Revenue passenger miles for the first quarter raised 11.1% to 9.6 billion on a capacity enhance of 9.6%, resulting in a first quarter load factor of 84.3%, an enhance of 1.2 points year over year.
Yield per passenger mile in the first quarter was 14.64 cents, up 3.1% contrast to the first quarter of 2014. Passenger revenue per accessible seat mile (PRASM) for the first quarter 2015 raised 4.5% year over year to 12.33 cents and operating revenue per accessible seat mile (RASM) raised 3.0% year over year to 13.34 cents.
Operating expenses for the quarter reduced 2.9%, or $38 million, over the preceding year period. Interest expense for the quarter declined 8.9%, or $3 million, as JetBlue continues to reduce its debt. JetBlue’s operating expense per accessible seat mile (CASM) for the first quarter reduced 11.3% year over year to 11.13 cents. Not taking into account fuel and profit sharing, first quarter CASM1reduced 1.9% to 7.95 cents.
Operational Performance
Despite a series of winter storms, which created operational challenges, system on time departures, or D0, improved 1.8 points year-over-year in the first quarter. System arrival performance, or A14, also improved 1.4 points.
“We posted strong first quarter results based on healthy demand across our network and a continued focus on cost control. Our 16,500 crewmembers delivered great customer service despite the challenges presented by winter storms. I’d like to thank all our Crewmembers for their hard work. They truly inspired humanity during this busy winter period.” said Robin Hayes, JetBlue’s President and CEO.
JetBlue Airways Corporation, a passenger carrier company, provides air transportation services. As of December 31, 2014, the company operated a fleet of 13 Airbus A321 aircrafts, 130 Airbus A320 aircrafts, and 60 EMBRAER 190 aircrafts.
Shares of Valero Energy Corporation (NYSE:VLO), during its Tuesday’s current trading session fell -0.79%, and is now trading at $58.93.
Valero Energy, stated net income from ongoing operations attributable to Valero stockholders of $964 million, or $1.87 per share, in the first quarter of 2015 contrast to $829 million, or $1.54 per share, in the first quarter of 2014. The results were a record first quarter for the company.
Refining
The refining segment stated first quarter 2015 operating income of $1.6 billion as compared to $1.3 billion in the first quarter of 2014. The $361 million enhance in operating income primarily resulted from the $1.49 enhance in throughput margin per barrel from $10.90 in the first quarter of 2014 to $12.39 in the first quarter of 2015. The enhance in throughput margin per barrel was mainly driven by stronger gasoline and secondary product margins per barrel relative to Brent crude oil and lower natural gas costs. These positive drivers were partially offset by lower discounts per barrel for most sweet and sour crude oils relative to Brent crude oil.
First quarter 2015 refining throughput volumes averaged 2.7 million barrels per day, an enhance of 9,000 barrels per day from the first quarter of 2014. Valero’s refineries operated at 92 percent throughput capacity utilization in the first quarter of 2015.
Ethanol
The ethanol segment stated first quarter 2015 operating income of $12 million as compared to $243 million in the first quarter of 2014. The $231 million decrease in operating income was mainly due to lower gross margin per gallon driven by a decline in gasoline and ethanol prices, which more than offset a decline in corn prices. Average quarterly ethanol production volumes were 3.8 million gallons per day in the first quarter of 2015, an enhance of 681,000 gallons per day as compared to the first quarter of 2014. The enhance in production was due to less weather-related rail disruptions in the first quarter of 2015 contrast to 2014 combined with incremental production volumes from the new Mount Vernon plant.
Corporate and Other
General and administrative expenses were $147 million in the first quarter of 2015 as compared to $160 million in the first quarter of 2014. The effective tax rate was 31.7 percent in the first quarter of 2015.
Valero Energy Corporation operates as an independent petroleum refining and marketing company in the United States, Canada, the Caribbean, the United Kingdom, and Ireland. It operates through two segments, Refining and Ethanol.
Finally, Canadian Solar Inc. (NASDAQ:CSIQ), gained 5.04% Tuesday.
According to Bloomberg, Canadian Solar expects a potential shortage of supply in the second half of this year as demand enhances worldwide.
“Imbalance may appear,” Chief Executive Officer Shawn Qu said in an interview in Shanghai on Tuesday. “Customers’ real demand has been growing.”
The forecast for scarcity contrasts with a glut that wiped out profits across the industry in the early part of this decade. It assists explain decisions by the top manufacturers counting Trina Solar Ltd. and JinkoSolar Holding Co. to build more capacity.
The industry may install about 57.2 gigawatts this year, up from 40 gigawatts in 2013, Bloomberg New Energy Finance estimates.
Canadian Solar plans to almost double its own panel capacity from 2013 levels. It maintained its plans to expand to 3.5 gigawatts after June from more than 3 gigawatts presently, Qu said. Together with supply from original equipment manufacturing, total capacity will reach more than 4 gigawatts, he said.
Canadian Solar earned a record $239 million last year on $2.96 billion in sales and panel shipments of 3.1 gigawatts. It anticipates to sell as much as 4.3 gigawatts of panels this year, a 39 percent enhance.
Canadian Solar Inc., together with its auxiliaries, designs, develops, manufactures, and sells solar wafers, cells, and solar module products worldwide. The company operates in two segments, Module and Project.
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