On Wednesday, Vimicro International Corporation (ADR) (NASDAQ:VIMC)’s shares declined -6.08% to $11.90.
Vimicro International Corporation (ADR) (VIMC) declared financial results for the first quarter ended March 31, 2015.
First-Quarter 2015 Results
Net revenue in the first quarter of 2015 was $19.2 million, as contrast to net revenue of $16.4 million in the year-ago quarter and $32.4 million in the fourth quarter of 2014. Surveillance revenues were $16.7 million in the first quarter, representing 86.9% of total net revenues and up 41.3% year over year. Gross profit in the first quarter was $7.7 million, as contrast with $5.5 million in the year-ago quarter and $13.6 million in the fourth quarter of 2014. The gross margin in the first quarter was 40.1%, as contrast to 33.7% in the year-ago quarter and 42.0% in the fourth quarter of 2014.
Operating expenses in the first quarter of 2015 were $7.6 million, as contrast to $8.6 million in the year-ago quarter and $8.5 million quarter over quarter. Research and development expenses were $1.9 million for the first quarter net of $3.1 million government grants applied (research and development expenses would have been $5.0 million without government grants for the quarter), as contrast to $3.9 million year over year and $2.2 million quarter over quarter. Sales and marketing expenses were $2.3 million for the first quarter, as contrast to $2.4 million year over year and $3.3 million quarter over quarter. General and administrative expenses were $3.4 million in the first quarter, as contrast to $2.4 million year over year and $3.0 million quarter over quarter. The enhance of general and administrative expenses was mainly due to bad debt expense of $0.4 million about recognized during the quarter.
Operating income was $0.2 million in the first quarter of 2015, as contrast to the operating loss of $3.1 million in the year-ago quarter and the operating income of $5.1 million quarter over quarter.
The equity in loss of an equity investee was $0.5 million in the first quarter of 2015, as contrast to the equity in profit of an equity investee of $0.4 million year over year and $0.9 million quarter over quarter.
Net income attributable to non-controlling interests was $1.5 million in the first quarter of 2015, as contrast to $0.1 million year over year and $4.4 million quarter over quarter.
Vimicro International Corporation, together with its auxiliaries, designs, develops, and markets semiconductor products with multimedia applications in Mainland China, Hong Kong, and the United States. The company operates through Video surveillance Solutions and Video Processor segments. It offers personal computers (PC), embedded notebook camera video processors, image sensors, and other products.
HD Supply Holdings Inc (NASDAQ:HDS)’s shares dropped -0.15% to $33.90.
HD Supply Holdings Inc (HDS) continues to execute above peers in a challenging environment this year for industrial distributors, plagued by pricing, oil & gas and FX headwinds, Barclays noted.
“HD Supply has emerged as the lone outperformer driven by strong operational execution and capital structure changes,” analysts at Barclays added.
Stock performance suggests relief around concerns that oil & gas and weather would have an outsized impact in the second quarter and core average daily sales growth came in at 6.5%, according to the analyst note.
HD Supply is an industrial distributor that operates in four segments: facilities maintenance, waterworks, power solutions and construction & industrial-white cap.
HD Supply Holdings, Inc. operates as an industrial distributor in North America. The company’s Facilities Maintenance segment offers electrical and lighting items, plumbing, appliances, janitorial supplies, hardware, kitchen and bath cabinets, window coverings, textiles and guest amenities, healthcare maintenance, and water and wastewater treatment products, in addition to heating, ventilating, and air conditioning products.
At the end of Wednesday’s trade, First Solar, Inc. (NASDAQ:FSLR)‘s shares surged 2.28% to $50.29.
First Solar, Inc. (FSLR) and SunPower Corporation (SPWR) to own and operate a portfolio of selected solar energy generation assets, declared recently that it has commenced an initial public offering (the “IPO”) of Class A shares representing limited partner interests in 8point3 Energy Partners (the “shares”). 8point3 Energy Partners is offering 20,000,000 shares to the public. In addition, the underwriters have a 30-day option to purchase up to an additional 3,000,000 shares from 8point3 Energy Partners at the IPO price, less the underwriting discount. The IPO price is presently predictable to be between $19.00 and $21.00 per share. The shares are predictable to be listed on the NASDAQ Global Market under the symbol “CAFD.”
8point3 Energy Partners intends to use all of the net proceeds of the IPO to purchase the common units of 8point3 Operating Company, LLC (“8point3 Operating Company”), the entity that holds 8point3 Energy Partners’ project assets. 8point3 Operating Company intends to use the proceeds from the sale of its common units (i) to make a cash distribution to each of First Solar and SunPower and (ii) for general corporate purposes, counting to fund future acquisition opportunities.
First Solar, Inc. provides solar energy solutions worldwide. The company operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells solar modules that convert sunlight into electricity. This segment manufactures cadmium telluride and crystalline silicon modules for project developers and system integrators, in addition to owners and operators of photovoltaic (PV) solar power systems.
Organovo Holdings Inc (NYSEMKT:ONVO), ended its Wednesday’s trading session with 4.13% gain, and closed at $4.13.
Organovo Holdings Inc (ONVO) stated its financial results for the fiscal year ended March 31, 2015. The Company also stated its total contract bookings for the exVive3D™ Human Liver Tissue.
The exVive3D Human Liver Tissue is a combination product and service offered by the Company to pharmaceutical industry customers for use mainly in preclinical safety testing. From April 1, 2014 through the date of this release, the Company has recorded total contract bookings for its commercial liver tissue product of about $1.94 million, which comprises $0.29 million in revenue recognized as of March 31, 2015. The customers who have contracted to utilize the exVive3D Human Liver Tissue comprise multiple top 25 global pharma companies, additional public pharmaceutical companies from small to large cap and private venture-backed companies. The Company has had multiple customers sign a second contract, representing repeat business for its liver tissue product. The Company has signed liver service contracts with customers in the United States, Europe and Asia. These stated total contract bookings do not comprise the Company’s contract bookings associated with its research and development activities not involving the exVive3D Human Liver Tissue.
Organovo Holdings, Inc., a development-stage company, focuses on developing and commercializing functional human tissues that could be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs.
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