On Thursday, Shares of Quest Diagnostics Inc. (NYSE:DGX), dropped -1.42% to $75.21.
Quest Diagnostics, declared that for the first quarter ended March 31, 2015, adjusted net income was $141 million, contrast to $122 million in 2014. Adjusted diluted EPS not taking into account amortization was $1.05 in the quarter, contrast to $0.93 in 2014. Amortization expense was $0.09 per diluted share in both years.
Stated net income was $61 million, or $0.42 per diluted share, contrast to $104 million, or $0.71 per diluted share, in 2014. Stated net income in the first quarter of 2015 was negatively influenced by charges of $80 million after tax, or $0.54 per diluted share, principally associated with the early retirement of debt in connection with the company’s recent debt refinancing. In addition, a portion of the charges were related to restructuring and integration costs and ongoing efforts to drive operational excellence. In the first quarter of 2014, stated net income was reduced by charges of $18 million after tax, or $0.13 per diluted share, comprised primarily of restructuring and integration costs.
Revenues grew 5.3% to $1.84 billion in the first quarter as compared to the preceding year. Merged revenues grew 0.7% on an organic basis as compared to a year ago. Diagnostic Information Services revenues raised 4.9%. Volume, measured by the number of requisitions, raised 5.6% as compared to the preceding year. Revenue per requisition was 0.7% below the preceding year. Not taking into account acquisitions, revenue per requisition for Diagnostic Information Services was essentially unchanged from a year ago.
For the first quarter of 2015, adjusted operating income was $269 million, or 14.6% of revenues, contrast to $236 million, or 13.5% of revenues, in 2014. Stated operating income was $228 million, or 12.4% of revenues, contrast to $208 million, or 11.9% of revenues, in 2014. Adjusted cash offered by operations during the first quarter of 2015 was $130 million. Stated cash offered by operations of $52 million was negatively influenced by pre-tax cash charges totaling $78 million associated with the early retirement of debt in connection with the company’s recent debt refinancing. In the first quarter of 2014, stated cash offered by operations was $84 million.
Quest Diagnostics Incorporated provides diagnostic testing information services in the United States and internationally. The company offers clinical testing services, such as routine testing, gene-based and esoteric testing, anatomic pathology services, and drugs-of-abuse testing, in addition to related services and insights; laboratory testing services for new drugs, vaccines, and medical devices; analytic, on-site prevention, and wellness services; and risk assessment services for the life insurance industry.
Shares of Select Comfort Corporation (NASDAQ:SCSS), declined -1.41% to $33.64, during its last trading session, hitting its highest level.
Select Comfort stated first quarter 2015 results for the period ended Apr. 4, 2015. Net sales raised 27% in the quarter, with 22% comparable sales growth, while earnings per share raised 74% contrast to the preceding year.
First Quarter Statement of Operations Overview
- Net sales raised 27% to a record $350 million, with comparable sales up 22% and 6 points of growth from net new store additions
- Gross profit raised 26% to $216 million; gross margin of 61.7% reflected a higher mix of our new FlexFit™ adjustable bases, partially offset by product mix and efficiency gains
- Operating expenses totaled $172 million, or 49.2% of net sales, a 350 basis point rate improvement as compared to preceding year. The year-over-year enhance in expenses comprised of variable expenses related to higher sales, and planned spending enhances in G&A and R&D to support growth initiatives
- Operating income raised 69% to $44 million, or 12.5% of net sales, a 320 basis point rate improvement as compared to the preceding year’s first quarter
- Earnings per diluted share grew 74% to a record $0.54.
Select Comfort Corporation, together with its auxiliaries, provides sleep solutions and services in the United States. It designs, manufactures, markets, and retails in beds and bedding accessories, such as mattresses, adjustable bases, pillows, sheets, and other bedding products under the Sleep Number brand name.
At the end of Thursday’s trade, Shares of Analog Devices, Inc. (NASDAQ:ADI), dwindled -1.40% to $63.59.
ORBOTECH LTD. (ORBK) recently declared that SPTS Technologies, an Orbotech company and supplier of advanced wafer processing solutions for the global semiconductor and related industries, was presented with a Supplier Excellence Award in the ‘Special Achievement’ category at the Analog Devices, annual award ceremony held in Hong Kong.
The ADI Supplier Excellence Award goes to suppliers that play a key role in ADI’s successes and collaborate with it on development and improvement of products and manufacturing processes. Winners were required to demonstrate exceptional commitment to excellence in manufacturing, leadership in maintaining quality standards and reliability specifications and on-time delivery of goods and services.
Analog Devices, Inc. engages in the design, manufacture, and marketing of analog, mixed-signal, and digital signal processing integrated circuits (ICs) for use in industrial, automotive, consumer, and communication markets worldwide. It offers signal processing products that convert, condition, and process real-world phenomena, such as temperature, pressure, sound, light, speed, and motion into electrical signals.
Finally, Xilinx Inc. (NASDAQ:XLNX), ended its last trade with -1.37% loss, and closed at $43.76.
Xilinx, declared fiscal 2015 sales of $2.38 billion, flat with the preceding fiscal year. Fiscal 2015 net income raised 3% to $648 million, or $2.35 per diluted share, as compared to fiscal 2014 net income of $630 million or $2.19 per diluted share.
Fourth quarter fiscal 2015 sales were $567 million, down 4% sequentially and down 8% from the fourth quarter of the preceding fiscal year. Fourth quarter fiscal 2015 net income was $135 million, or $0.50 per diluted share, counting a $24 million restructuring charge, or $0.08 per diluted share.
Xilinx, Inc. designs and develops programmable devices and associated technologies worldwide. Its programmable devices comprise integrated circuits (ICs) in the form of programmable logic devices (PLDs), such as programmable system on chips, and three dimensional ICs; software design tools to program the PLDs; targeted reference designs.
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