On Friday, Shares of Atmel Corporation (NASDAQ:ATML), dropped -3.80% to $7.85.
On April 17, UniPixel, Inc. (UNXL), a designer of Performance Engineered Films™ for the touch screen, flexible printed electronics and display markets, has attained, through its wholly owned partner, Uni-Pixel Displays, Inc., the assets of Atmel Corporation’s (NASDAQ: ATML) XSense® touch sensors group, and has concurrently reached patent and intellectual property licenses with Atmel, exclusive for a period of two years, for the use of XSense-related technologies.
UniPixel also has attained separate licenses for fine line technology from Atmel’s partner, CIT Technology Limited, a wholly owned partner of Carclo plc (LSE: CAR). The licenses with CIT Technology as to the products covered by the patents and intellectual property being licensed are also exclusive for a period of two years.
Atmel Corporation designs, develops, manufactures, and sells semiconductor integrated circuit products primarily in the United States, Asia, Europe, South Africa, and Central and South America. It operates in four segments: Microcontroller, Nonvolatile Memory, Automotive, and Multi-Market and Other.
Shares of Lipocine Inc. (NASDAQ:LPCN), declined -3.79% to $6.85, during its last trading session.
Lipocine, declared that it has priced an underwritten public offering of 4,650,000 shares of its common stock at $6.50 per share for gross proceeds of $30.2 million. Lipocine has also granted the underwriters a 30-day option to purchase up to an additional 697,500 shares of common stock to cover over-allotments, if any. The offering is predictable to close on or about April 29, 2015, subject to satisfaction of customary closing conditions.
Lipocine anticipates to receive net proceeds of about $28.2 million from the sale of common stock, after deducting the underwriters’ discounts and other estimated offering expenses. The net proceeds from the offering will be used for general corporate purposes, which may comprise additions to working capital and capital expenditures.
Canaccord Genuity Inc. and Ladenburg Thalmann are acting as joint book-running managers for the offering. Roth Capital Partners is acting as co-manager for the offering.
Lipocine Inc., a specialty pharmaceutical company, develops pharmaceutical products using its oral drug delivery technology in the areas of men’s and women’s health. The company offers a portfolio of proprietary product candidates designed to produce pharmacokinetic characteristics and facilitate lower dosing requirements, bypass first-pass metabolism, reduce side effects, and eliminate gastrointestinal interactions that limit bioavailability.
At the end of Friday’s trade, Shares of Scholastic Corporation (NASDAQ:SCHL), dwindled -3.78% to $40.75.
Scholastic Corporation, declared that it has reached a definitive agreement to sell its Educational Technology and Services business to Houghton Mifflin Harcourt Company (“HMH”) (HMHC) for $575 million in cash. EdTech had $249 million in revenues and $40 million in operating income in the 2014 fiscal year ended May 31, 2014. Revenues were $175 million and operating income was $17 million for the first nine months of the current fiscal year ending May 31, 2015. Scholastic anticipates net proceeds from the sale, after taxes, transaction fees, and other expenses, of about $360 – $370 million.
The transaction will enable Scholastic to focus on its core businesses by deepening relationships with its primary customers – teachers, parents, children, and schools. The Company plans to re-invest the proceeds from the sale in its Children’s Book Publishing and Distribution, Classroom and Supplemental Materials Publishing, and International business segments, while ongoing to return capital to shareholders over time.
The opportunities for growth in Scholastic’s core businesses comprise:
- In Children’s Book Publishing and Distribution, which comprises book clubs, book fairs, trade publishing and media, the current focus on independent reading in schools, together with new marketing strategies in clubs, has reinvigorated the Company’s school distribution channels. School book clubs have delivered 33% revenue growth over the past four quarters and book fair revenue reached $490 million in the same period. Trade publishing continues to grow through sales to bookstores, etailers and the mass market, while also supporting the school channels.
- The Classroom and Supplemental Materials Publishing business, which comprises classroom book collections, Guided Reading, classroom magazines and other print and digital instructional programs, has been a profitable area for Scholastic for decades and is now one of its noteworthy growth areas. Segment revenue has grown steadily over the last four quarters, reaching $246 million in total for that period.
- International sales, which comprise auxiliaries in Canada, UK, Australia, New Zealand, and operations throughout Asia in addition to exports to more than 150 countries, have been strong at $414 million over the past four quarters, with local currency sales growth in most areas.
Scholastic Corporation operates as a children’s publishing, education, and media company in the United States. The company’s Children’s Book Publishing and Distribution segment publishes and distributes children’s books, media, and interactive products through school-based book clubs and book fairs, and the trade channel.
Finally, Synaptics Inc. (NASDAQ:SYNA), ended its last trade with -3.76% loss, and closed at $85.69.
Synaptics Incorporated, stated financial results for its third quarter ended March 28, 2015.
Net revenue for the third quarter of fiscal 2015 grew 134% over the comparable quarter last year to $477.6 million. Net income for the third quarter of fiscal 2015 was $31.5 million, or $0.82 per diluted share. Non-GAAP net income for the third quarter of fiscal 2015 was $63.5 million, or $1.65 per diluted share. Results for the period reflect merged results from the acquisition of Renesas SP Drivers, Inc. (RSP). See attached table for a reconciliation of GAAP to non-GAAP financial measures.
Third Quarter 2015 Business Metrics
- Revenue mix from mobile and PC products was about 87% and 13%, respectively. Fingerprint ID products have been classified according to type of device.
- Revenue from mobile products was up 177% year-over-year to $417.4 million. Mobile products revenue comprises all touchscreen, display driver, and applicable fingerprint ID products.
- Revenue from PC products totaled $60.2 million, an enhance of 12% year-over-year, and comprises applicable fingerprint ID products.
Synaptics Incorporated develops, markets, and sells custom-designed human interface solutions for electronic devices and products primarily in China, South Korea, Taiwan, the United States, Japan, and other countries.
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