On Wednesday, in the course of current trade, Shares of IGI, Laboratories, Inc. (NYSEMKT:IG), dropped -31.70%, and is now trading at $5.44.
IGI Laboratories, declared it has presented its second abbreviated new drug application (ANDA) to the U.S. Food and Drug Administration (FDA) of 2015, which brings the Company’s total number of ANDA submissions now pending at the FDA to twenty-four.
Jason Grenfell-Gardner, President and CEO of the Company, commented, “We believe the ANDA filed recently has an addressable market of about $50 million based on February 2015 data from IMS Health. We believe our current pipeline of twenty-four submissions, exclusive of partnered submissions, pending approval by the FDA now has a combined addressable market of over $702 million based on February 2015 data from IMS Health.”
IGI Laboratories, Inc., a specialty generic pharmaceutical company, develops, manufactures, and markets topical formulations in the United States. It sells generic pharmaceutical products in topical, injectable, complex, and ophthalmic dosage forms under IGI label.
During Morning trade, Shares of Stratasys Ltd. (NASDAQ:SSYS), dipped -18.92%, and is now trading at $41.58, hitting its lowest level, after the 3D printing stated preliminary results for the first quarter below analysts’ estimates.
Stratassys said it anticipates to report earnings of 2 cents to 4 cents and revenue $171 million to $173 million for the first quarter. Analysts expect the contrast to report earnings of 29 cents a share and revenue of $198.79 million for the quarter.
Looking to full year 2015, the 3D printing company anticipates earnings of $1.20 to $1.70 a share and revenue of $800 million to $860 million. Analysts expect the company to report earnings of $2.10 a share and revenue of $943.09 million.
Stratasys Ltd. provides additive manufacturing (AM) solutions for the creation of parts used in the processes of designing and manufacturing products; and for the direct manufacture of end parts.
Shares of Lumber Liquidators Holdings, Inc. (NYSE:LL), during its Wednesday’s current trading session fell -19.65%, and is now trading at $26.85, hitting its lowest level.
Lumber Liquidators, declared financial results for the first quarter ended March 31, 2015.
First Quarter Results
Net sales in the first quarter of 2015 were $260.0 million, an enhance of 5.6% from the first quarter of 2014 and a compound annual growth rate of 6.2% over the first quarter of 2013. Net sales in the month of March 2015 were $89.4 million, a decrease of 12.8% in comparison to March 2014. Net sales trends in March 2015 were significantly weaker than trends in January and February 2015, as net sales were negatively influenced by unfavorable allegations surrounding the product quality of the Company’s laminates sourced from China. The Company opened four new stores during the first quarter of 2015 and was operating 356 locations at March 31, 2015.
In comparable stores, net sales for the quarter reduced 1.8% in comparison to the first quarter of 2014, due to a 6.2% decrease in the average sale, partially offset by a 4.4% enhance in the number of customers invoiced. In the month of March 2015, net sales at comparable stores reduced 17.8% due to a 6.5% decrease in the average sale and an 11.3% decrease in the number of customers invoiced.
Gross margin was 35.2% in the first quarter of 2015 counting about $1.6 million, or 62 basis points, in incremental transportation expenses incurred in conjunction with the consolidation and transition of the East Coast distribution center. Gross margin also comprised of about $2.3 million, or 88 basis points, in costs related to the ongoing indoor air quality testing program offered to certain of the Company’s customers comprised of about $1.8 million incurred for the testing program and an enhance of $0.5 million for estimated future customer service costs. Gross margin in the first quarter of 2014 was 41.1%. In comparison to 2014, gross margin was also adversely influenced by certain planned changes in the marketing of the Company’s value proposition, which occurred preceding to March, and greater promotional pricing in March to drive customer traffic.
Net loss was $7.8 million, or a loss of $0.29 per diluted share, in the first quarter of 2015 and net income was $13.7 million, or $0.49 per diluted share, in the first quarter of 2014.
Lumber Liquidators Holdings, Inc., together with its auxiliaries, operates as a multi-channel specialty retailer of hardwood flooring, and hardwood flooring enhancements and accessories.
Finally, Wynn Resorts Ltd. (NASDAQ:WYNN), lost -15.57% Wednesday, hitting its highest level.
Wynn Resorts, stated financial results for the first quarter ended March 31, 2015.
Net revenues for the first quarter of 2015 were $1,092.2 million, contrast to $1,513.6 million in the first quarter of 2014. The decline was the result of a 37.7% net revenue decrease from our Macau Operations, partially offset by a 1.6% enhance in net revenues from our Las Vegas Operations. Adjusted property EBITDA was $323.0 million for the first quarter of 2015, a 34.7% decrease from $494.6 million in the first quarter of 2014.
On a US GAAP basis, net loss attributable to Wynn Resorts, Limited for the first quarter of 2015 was $44.6 million, or $0.44 per diluted share, contrast to net income attributable to Wynn Resorts, Limited of $226.9 million, or $2.22 per diluted share, in the first quarter of 2014.
Adjusted net income attributable to Wynn Resorts, Limited (2) in the first quarter of 2015 was $70.5 million, or $0.70 per diluted share (adjusted EPS), contrast to an adjusted net income attributable to Wynn Resorts, Limited of $236.7 million, or $2.32 per diluted share, in the first quarter of 2014.
Wynn Resorts also declared recently that the Company has approved a cash dividend of $0.50 per common share, a reduction from its previous quarterly dividend. This dividend will be payable on May 21, 2015, to stockholders of record on May 11, 2015.
Wynn Resorts, Limited, together with its auxiliaries, develops, owns, and operates destination casino resorts. It operates in two segments, Macau Operations and Las Vegas Operations. The company operates Wynn Macau and Encore at Wynn Macau resort located in the People’s Republic of China.
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