On Friday, Scripps Netoperates Interactive, Inc. (NYSE:SNI)’s shares inclined 0.29% to $58.76.
Scripps Netoperates Interactive, Inc. (SNI) stated second-quarter 2015 operating results.
Merged revenues for the quarter raised $24.0 million, or 3.4 percent, to $732.1 million from the preceding-year period. Results for the three-month period ended June 30 comprise advertising revenue of $502.9 million, up $5.9 million, or 1.2 percent, over last year and associate fee revenue of $215.2 million, up $17.2 million, or 8.7 percent, year over year.
Cost of services and selling, general and administrative expenses for the quarter reduced $15.3 million, or 3.9 percent, to $373.6 million from the preceding-year period, driven by a reduction in ongoing employee costs as a result of the restructuring program executed in the fourth quarter of 2014. Comprised of in the second quarter of 2015 were:
- $5.3 million of costs related to the formerly declared restructuring program; and
- $4.2 million of transaction and integration expenses related to the TVN acquisition.
Comprised of in the second quarter of 2014 were:
- $9.7 million of costs related to the termination of certain third-party service provider contracts.
Not taking into account the impact of these items in their respective periods, cost of services and selling, general and administrative expenses would have reduced $15.1 million, or 4.0 percent, to $364.0 million.
Scripps Netoperates Interactive, Inc. develops lifestyle-oriented content for linear and interactive video platforms in the United States, the United Kingdom and other European markets, the Middle East and Africa, the Asia-Pacific, and Latin America. The company delivers content that focuses on specifically defined topics of interest for audiences and advertisers.
AstraZeneca plc (ADR) (NYSE:AZN)’s shares dropped -1.61% to $33.69.
Charles River Laboratories International, Inc. (CRL) declared that it has extended its initial three-year partnership with AstraZeneca (AZN) for an additional five-year period. Under the agreement, which extends into 2020, Charles River retains its position as AstraZeneca’s preferred planned partner for outsourced regulated safety assessment and development DMPK (drug metabolism and pharmacokinetics).
AstraZeneca PLC engages in the discovery, development, and commercialization of prescription medicines for the treatment of cardiovascular, metabolic, respiratory, inflammation, autoimmune, oncology, infection, and neuroscience diseases worldwide. Its principal products comprise Crestor for the treatment of dyslipidaemia and hypercholesterolemia; Seloken/Toprol-XL to control hypertension, and heart failure and angina; Onglyza for diabetes mellitus; Iressa for non-small cell lung cancer; Faslodex for breast cancer in post-menopausal women; and Zoladex for prostate cancer, breast cancer, and certain benign gynaecological disorders.
At the end of Friday’s trade, Best Buy Co Inc (NYSE:BBY)‘s shares dipped -1.13% to $30.76.
Best Buy’s Geek Squad declared the launch of the ninth Geek Squad Academy summer program. This grassroots tech experience inspires under-served teens to consider technology careers and assist address the nation’s widely-anticipated professional labor shortage.
According to the Change the Equation, a group of Fortune 500 companies that encourages students to pursue STEM (science, technology, engineering and math) careers, the American workforce is still failing to pursue different fields. The lack of broad representation in these high-demand areas threatens the U.S. economy by creating a competitive advantage for other countries.
Conducted in partnership with non-profit organizations such as the Boys & Girls Clubs of America, Junior Achievement and Young Adult Library Services Association, Geek Squad Academy classes are designed by Geek Squad Agents to demystify technology and ignite a passion for technology through fun and inspiring hands-on learning. At this year’s sessions, students will explore the ins and outs of technology through subjects like digital citizenship, film production, computer programming and robotics, in addition to 3D printing and circuitry.
Best Buy Co., Inc. operates as a retailer of technology products, services, and solutions in the United States and internationally. Its stores offer consumer electronics comprising primarily of television and home theaters; digital cameras and camcorders; DVD and Blu-ray players; portable electronics, such as MP3 devices, headphones and speakers, car stereo, navigation and satellite radio; and related accessories.
Best Buy Co Inc (NYSE:BBY), ended its Friday’s trading session with 0.54% gain, and closed at $321.19.
Allergan plc (AGN) stated continued exceptional performance with net revenue increasing 116 percent to $5.76 billion for the quarter ended June 30, 2015, contrast to $2.67 billion in the second quarter 2014. On a non-GAAP basis, diluted earnings per share raised 29 percent to $4.41 for the second quarter 2015, contrast to $3.42 in the second quarter 2014. GAAP loss per share for the second quarter 2015 was $0.80, contrast to GAAP income per diluted share of $0.28 in the preceding year period. GAAP results were influenced by amortization, in-process research and development impairments, acquisition-related expenses, acquisition accounting valuation related expenses and severance and integration costs associated with attained businesses, mainly the acquisitions of Allergan on March 17, 2015 and Forest Laboratories on July 1, 2014.
Other Operating Results
For the second quarter 2015, non-GAAP gross margin was 72.3 percent contrast to 56.3 percent in the second quarter of 2014, reflecting the impact of the Allergan acquisition. Total non-GAAP SG&A as a percent of non-GAAP revenue for the second quarter 2015 was 21.7% contrast to 18.7% in the preceding year period. For the second quarter 2015, non-GAAP R&D spending was $406.0 million contrast to $184.8 million in the preceding year. Adjusted EBITDA raised 203 percent to $2.61 billion in the second quarter of 2015, contrast to $862.0 million for the second quarter 2014. Cash flow from operations for the second quarter of 2015 was $1.4 billion and cash and marketable securities were $1.5 billion as of June 30, 2015.
Allergan plc develops, manufactures, and distributes generic, branded, biosimilar, and over-the-counter (OTC) pharmaceutical products. It operates in three segments: North American Brands, North American Generics and International, and Anda Distribution. The North American Brands segment provides patented and off-patent trademarked pharmaceutical products primarily under the Dalvance, Bystolic, Canasa, Carafate, Daliresp, Fetzima, Linzess, Namenda, Namenda XR, Saphris, Teflaro, Viibryd, Actonel, Asacol HD, Atelvia, Delzicol, Doryx, Estrace Cream, Enablex, Lo Loestrin Fe, and Minastrin 24 Fe brands.
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