On Tuesday, Gildan Activewear Inc (USA) (NYSE:GIL)’s shares inclined 1.58% to $32.73.
Gildan Activewear Inc. (GIL) declared its results for the three months ended July 5, 2015, and updated its sales and earnings guidance for calendar year 2015.
Merged Results for the Three Months Ended July 5, 2015 (Second Calendar Quarter of 2015)
Gildan recently stated net earnings of U.S. $99.4 million or U.S. $0.41 per share on a diluted basis for the three months ended July 5, 2015, contrast with net earnings of U.S. $116.0 million or U.S. $0.47 per share on a diluted basis for the three months ended July 6, 2014. Before reflecting restructuring and acquisition-related costs of about U.S. $3.2 million after-tax in the quarter relating primarily to the integration of acquisitions, Gildan stated adjusted net earnings of U.S. $102.6 million or U.S. $0.42 per share for the three months ended July 5, 2015, contrast with adjusted net earnings of U.S. $116.6 million or U.S. $0.47 per share for the same period last year.
Merged net sales in the second calendar quarter of 2015 amounted to U.S. $714.2 million, up 2.9% from U.S. $693.8 million in the corresponding quarter of the preceding year, reflecting an enhance of 12.3% in sales for Branded Apparel, partially offset by a 1.2% decline in Printwear sales largely due to the selling price reductions implemented in December of 2014 and the lower number of shipping days contrast to the corresponding quarter of last year. Sales in the second calendar quarter of 2014 comprised of an extra week to realign the 52-week fiscal year with the calendar year. Merged net sales in the quarter were below the Company’s guidance of net sales of U.S. $750 million, which it offered on May 14, 2015 primarily as a result of lower than anticipated inventory replenishment by a major U.S. retail customer and lower than anticipated Printwear sales in Europe.
Gildan Activewear Inc. manufactures and sells apparel products in the United States, Canada, Europe, the Asia-Pacific, and Latin America. . It operates in two segments, Printwear and Branded Apparel. The Printwear segment designs, manufactures, sources, and distributes undercoated activewear products comprising T-shirts, fleece, and sport shirts under Gildan brand. Its activewear products are used in various activities by individuals, counting work and school uniforms and athletic team wear, and other purposes to convey individual, group, and team identity.
Polycom Inc (NASDAQ:PLCM)’s shares dropped -1.27% to $10.90.
Building on its commitment to assisting customers choose their own path to pervasive collaboration, Polycom, Inc. (PLCM) declared Polycom® VVX® business media phones are now accessible on and interoperable with Alcatel-Lucent Rapport for Enterprise, a software-based, open communications platform designed to give large enterprises and service providers a flexible way to customize their communications and partnership services.
With Polycom VVX business media phones and Alcatel-Lucent Rapport for Enterprise, organizations can experience the exceptional voice quality of the industry’s largest open SIP handset provider. Polycom VVX business media phones deliver an easy-to-use, compriseent user experience with industry leading audio quality from the front desk to the executive office, and everywhere in between. Rapport provides a single open communications framework deployed in a private cloud. The integration with Rapport further demonstrates Polycom’s long-standing commitment to integration, which goes beyond standard interoperability. This ensures ease of use and operation into end user and administrator’s workflows.
Polycom, Inc. provides partnership solutions for voice, video, and content sharing. The company offers video, voice, and content-administration and content-sharing solutions, such as telepresence and conference room systems, home/work office solutions, applications for mobile devices, browser-based video collaboration, and cloud-delivered services, in addition to industry-specific solutions, counting specialized video carts and solutions for healthcare, education, and manufacturing. It also provides telepresence and video conferencing systems to incorporate high-definition (HD) data sharing and partnership into a video conference; peripherals and accessories; UC group devices primarily for the Skype for Business environment; and conference phones to conduct voice conference calls. In addition, the company offers RealPresence platform comprising universal video collaboration, resource administration, virtualization manager, content administration, an
At the end of Tuesday’s trade, VAALCO Energy, Inc. (NYSE:EGY)‘s shares surged 6.25% to $1.36.
VAALCO Energy, Inc. (EGY) declared that its Board of Directors has authorized the repurchase of up to 5.8 million shares of the Company’s common stock, which represents about 10% of the Company’s outstanding common stock, in open market transactions from time to time during the forthcoming 18-month period and in accordance with the requirements of the Securities and Exchange Commission.
The share buyback program does not obligate the Company to acquire any specific number of shares in any period, and may be expanded, extended, modified or suspended at any time. Payment for shares repurchased under the program will be funded using the Company’s cash on hand. At the end of the first quarter, the Company had outstanding about 58 million shares of common stock issued and outstanding.
VAALCO Energy, Inc., an independent energy company, acquires, explores for, develops, and produces crude oil and natural gas in the United States. The company owns producing properties and conducts exploration activities as an operator of consortiums internationally in Gabon and Angola, in addition to conducts exploration activities as a non-operator in Equatorial Guinea, West Africa. It also acts as the operator of unconventional resource properties in North Texas and a lease hold in Montana; and owns minor interests in conventional production activities as a non-operator.
Civeo Corp (NYSE:CVEO), ended its Tuesday’s trading session with 3.78% gain, and closed at $1.92.
Civeo Corporation (CVEO) stated financial results for the second quarter ended June 30, 2015.
SECOND QUARTER 2015 RESULTS
In the second quarter of 2015, the Company generated revenues of $143.1 million, EBITDA of $28.8 million and Adjusted EBITDA of $40.7 million. Net loss for the quarter was $13.5 million, or $0.13 per diluted share, inclusive of a $6.6 million (or $0.06 per diluted share) after-tax loss related to the impairment of fixed assets at a village in Australia and a $1.6 million (or $0.02 per diluted share) after-tax loss from costs incurred in connection with the migration to Canada.
(EBITDA is defined as net income plus interest, taxes, depreciation and amortization and Adjusted EBITDA is defined as EBITDA adjusted to exclude impairment charges and certain other costs such as those associated with the spin-off and the migration).
In the second quarter of 2014, the Company generated revenues of $227.1 million. Net income in the year ago period was $13.9 million, or $0.13 per diluted share, which comprised of a $0.09 per diluted share after-tax loss from transition costs, debt extinguishment costs and an impairment incurred in connection with the spin-off from Oil States, a $0.03 per diluted share after-tax loss from severance costs associated with the termination of an executive, and a $0.02 per diluted share after-tax loss from the impairment of assets, and for which the return or reimbursement is unlikely. EBITDA and Adjusted EBITDA in the second quarter of 2014 were $59.0 million and $76.6 million, respectively.
Civeo Corporation provides remote site accommodations for the natural resource industry in Australia, Canada, and the United States. It also offers facility administration services, counting food services; customized facility administration information systems that provide clients with the tools and information necessary to manage the allocation of contracted rooms and service days; and support services, such as housekeeping and janitorial services, facility maintenance, laundry, communications, supply chain and logistics administration, power generation, and transportation and personnel logistics.
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