On Thursday, Shares of Flotek Industries Inc (NYSE:FTK), gained 0.17% to $17.95.
Flotek Industries will make a presentation at the 20th anniversary of EnerCom’s The Oil & Gas Conference in Denver on Wednesday, August 19, 2015. John Chisholm, Chairman, President and Chief Executive Officer of Flotek, will present to conference attendees startning at 10:00 am EDT (8:00 am MDT).
Flotek Industries, Inc. develops and supplies oilfield products, services, and equipment to the oil, gas, and mining industries in the United States and internationally. Its Energy Chemical Technologies segment designs, develops, manufactures, packages, and markets specialty chemicals used in oil and gas well drilling, cementing, completion, stimulation, and production.
Shares of Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP), inclined 0.33% to $24.39, during its last trading session.
Sucampo Pharmaceuticals stated merged financial results for the second quarter ended June 30, 2015.
Second Quarter 2015 Financial Review:
Net income was $9.6 million for the second quarter of 2015 contrast to net income of $1.6 million, in the same period in 2014, an enhance of 495%. Fully-diluted EPS for the second quarter of 2015 was $0.21 contrast to fully-diluted EPS of $0.04 in the same period in 2014, an enhance of 425%. Non-GAAP earnings before interest, tax, depreciation, amortization and stock option expense was $16.6 million for the second quarter of 2015 contrast to $4.7 million in the same period in 2014, an enhance of 251%.
Total revenues were $34.9 million for the second quarter of 2015 contrast to $24.1 million in the same period in 2014, an enhance of 45%. The enhance was primarily due to the growth of AMITIZA sales in Japan and higher product royalty revenue on AMITIZA net sales in the U.S.
Costs of goods sold were $7.3 million for the second quarter of 2015 contrast to $3.8 million for the same period in 2014, an enhance of 92%. The enhance was primarily due to raised AMITIZA sales in Japan.
Research and development expenses were $7.1 million for the second quarter of 2015 contrast to $4.3 million for the same period of 2014, an enhance of 68%. The enhance was primarily due to raised activity on our development programs of cobiprostone for PPI-refractory non-erosive reflux disease/gastro-esophageal reflux disease and AMITIZA for pediatric functional constipation, part of which is reimbursed by Takeda.
General and administrative expenses were $8.3 million for the second quarter of 2015 contrast to $8.2 million for the same period of 2014.
Selling and marketing expenses were $0.6 million for the second quarter of 2015 contrast to $4.0 million for the same period of 2014, a decrease of 85%. The decrease was primarily due to the reduction in direct commercial operations in the fourth quarter of 2014 in the U.S. and Europe.
Effective tax rate for the second quarter of 2015 was 29%, contrast to 53% in the same period of 2014. The effective rate for the quarter is based on a projection of the full year rate. The reduction in tax rate is due to the timing of the allowable deduction of intangible impairment expense, together with the effect on the treatment of non-U.S. income following the reduction in holdings of Sucampo’s founding stockholders below 50% of Sucampo’s outstanding shares.
Sucampo stated year-over-year growth of 45% to $34.9 million in total revenue, 16% to $16.1 million in product royalty revenue and 92% to $14.5 million in product sales revenue. Sucampo stated net income of $9.6 million and fully-diluted earnings per share (EPS) of $0.21 during the second quarter of 2015, contrast to net income of $1.6 million and fully-diluted EPS of $0.04 in the same period in 2014.
At the end of Thursday’s trade, Shares of Avnet, Inc. (NYSE:AVT), lost -0.86% to $42.67.
Avnet Technology Solutions celebrated the tenth anniversary of its business alliance with Juniper Networks, the leader in network innovation. For a decade, the companies have collaborated to assist educate and enable partners to enhance the connectivity of their customers’ IT infrastructures with security, switching, and routing solutions in seven countries: Australia, France, Germany, India, Ireland, Netherlands, and the U.K.
“Big data and analytics, cloud computing and mobility are driving an exponential enhance in connectivity and security demands, and these trends are predictable to define the technology industry for the next decade,” said Patrick Zammit, president, Avnet Technology Solutions, Global. “As a result, security and networking presents one of the greatest growth opportunities for our partners. Avnet’s 10-year relationship with Juniper Networks has given our partners a solid foundation in this market. With Juniper Networks, we will continue to look for new opportunities to build upon our mutual success and assist our partners address their customers’ business needs related to security and networking as this market evolves.”
Avnet provides its Juniper Networks partners with a range of services and support designed to assist extend and enhance their planned value to customers. These comprise dedicated and highly-certified teams of pre- and post-sales technical engineers; professional services counting assessments, network health checks, network design and installation, migration, and a 24/7 technical support team; and a large pool of Juniper Networks’ products for demonstrations.
Avnet, Inc., together with its auxiliaries, distributes electronic components, enterprise computer and storage products, IT solutions and services, and embedded subsystems in the Americas, Europe, the Middle East, Africa, and the Asia/Pacific. It operates through two segments, Electronics Marketing (EM) and Technology Solutions (TS).
Finally, EXACT Sciences Corporation (NASDAQ:EXAS), ended its last trade with 0.85% gain, and closed at $23.77.
Exact Sciences Corporation declared that Jefferies LLC and Robert W. Baird & Co. Incorporated, the underwriters of the Company’s formerly declared public offering of 7,000,000 shares of common stock, are reoffering the shares to the public at an initial price of $25.50 per share. The Company has also granted the underwriters an option to purchase up to 1,050,000 of additional shares. The offering is predictable to close on or about July 24, 2015, subject to customary closing conditions.
The Company intends to use the net proceeds of this offering to fund expansion of Cologuard® commercialization activities, to fund product development efforts, and for general corporate and working capital purposes.
Jefferies LLC and Robert W. Baird & Co. Incorporated acted as the underwriters for the offering. A shelf registration statement relating to the shares was filed with the Securities and Exchange Commission and is effective.
Exact Sciences Corporation, a molecular diagnostics company, focuses on developing non-invasive colorectal cancer screening products. The company develops the Cologuard, a non-invasive stool-based DNA colorectal cancer screening test that is designed to detect pre-cancerous lesions or polyps, and each of the four stages of colorectal cancer.
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.
