On Thursday, Coach Inc (NYSE:COH)’s shares declined -0.55% to $31.56.
Coach Inc. (COH) a leading New York design house of modern luxury accessories and lifestyle brands, recently stated net sales of $1.00 billion for its fourth fiscal quarter ended June 27, 2015, counting a $43 million contribution from the May acquisition of Stuart Weitzman. This contrast with $1.14 billion stated in the same period of the preceding year, a decrease of 12%. On a constant currency basis, total sales declined 8% for the period. Net income for the quarter totaled $85 million, with earnings per diluted share of $0.31, not taking into account transformation-related charges and acquisition costs. The acquisition of Stuart Weitzman contributed $2 million to net income and $0.01 to earnings per diluted share for the quarter. Net income in the fourth quarter of FY14 totaled $164 million with earnings per diluted share of $0.59, not taking into account transformation and other actions. Stated net income for the fourth quarter of FY15 totaled $12 million with earnings per diluted share of $0.04 contrast to the preceding year’s stated net income of $75 million and earnings per diluted share of $0.27.
Coach, Inc. provides luxury accessories and lifestyle collections for women and men in the United States and internationally. It offers handbags, money pieces, wristlets, rings, charms, and cosmetic cases for women; and business cases, computer bags, messenger-style bags, totes, wallets, card cases, and belts, as well as time management and electronic accessories for men.
Lions Gate Entertainment Corp. (USA) (NYSE:LGF)’s shares dropped -5.57% to $35.33.
Lionsgate (LGF) stated revenue of $408.9 million, adjusted EBITDA of $70.3 million, adjusted net income of $48.9 million or adjusted basic EPS of $0.33, net income of $40.7 million or basic EPS of $0.28 and free cash flow of $94.7 million for the first quarter of fiscal 2016 (quarter ended June 30, 2015).
The Company’s EBITDA and EPS results in the quarter reflected another strong performance from its television production business, driven by a 73% surge in revenue from licensing of international programming, continued momentum at its EPIX pay television partnership and lower theatrical marketing expenses.
Lions Gate Entertainment Corp. engages in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution, channel platforms, and international distribution and sales activities.
At the end of Thursday’s trade, PennyMac Mortgage Investment Trust (NYSE:PMT)‘s shares dipped -6.52% to $16.50.
PennyMac Mortgage Investment Trust (PMT) stated net income of $28.1 million, or $0.36 per diluted share, for the second quarter of 2015, on net investment income of $69.8 million. PMT formerly declared a cash dividend for the second quarter of 2015 of $0.61 per common share of beneficial interest, which was declared on June 25, 2015 and paid on July 30, 2015.
Second Quarter 2015 Highlights
Financial results:
- Diluted earnings per common share of $0.36, up 300 percent from the preceding quarter
- Net income of $28.1 million, up 274 percent from the preceding quarter
- Net investment income of $69.8 million, up 85 percent from the preceding quarter
- Book value per share of $20.39, down from $20.68 at March 31, 2015
- Return on average equity of 7 percent, up from 2 percent for the preceding quarter1
PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company operates through two segments, Correspondent Production and Investment Activities.
Media General Inc (NYSE:MEG), ended its Thursday’s trading session with -10.86% loss, and closed at $13.05.
Media General Inc (MEG) declared that Steve Watt has been designated Vice President and General Manager of WKRN-TV, its ABC associate in Nashville, Tennessee.
Mr. Watt was promoted to this position after serving as the station’s General Sales Manager since 2008. During his tenure, he successfully built WKRN-TV’s brand recognition with advertisers, developed innovative sales strategies, and led the sales organization through a period of unprecedented growth. He will succeed Stan Knott who was elevated to Vice President of Broadcast Markets for Media General.
Commenting on the declarement, Deborah A. McDermott, Chief Operating Officer for Media General, said: “Steve is a highly planned and skilled broadcast executive who has been involved in every aspect of WKRN’s operation. He brings a forward-thinking approach to news, sales and promotions across all screens. He also has a genuine, heartfelt commitment to meeting the needs of our viewers and advertisers. He is the ideal candidate and very deserving of this promotion.
Media General, Inc. owns and operates television stations in the United States. It operates 71 network-associated stations, and their associated digital media and mobile platforms, counting 22 CBS stations, 14 NBC stations, 12 ABC stations, 8 FOX stations, 7 MyNetworkTV stations, 7 CW stations, and 1 Telemundo station in 48 markets.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
