Insights about U.S. Stocks that landed in the Red-Zone during Tuesday’s trade, are depicted underneath:
IGI Laboratories, Inc (NYSEMKT:IG)’s shares dwindled -10.74%, and closed at $10.22, during the last trading session.
IGI, Laboratories, Inc. (IG), a New Jersey based specialty generic pharmaceutical corporation, declared its financial results for the fourth quarter and year ended December 31, 2014.
Fourth Quarter and Year to Date 2014 Highlights:
- Total proceeds of $13.7 million in the fourth quarter of 2014, an raise of 104% over the same quarter in 2013
- Total proceeds of $33.7 million for the year ended December 31, 2014, an raise of 85% over the same period in 2013
- Total net proceeds generated from the sale of IGI label generic topical pharmaceutical products for the three and twelve months ended December 31, 2014 of $10.5 million, and $19.8 million, respectively
- Gross profit for the year ended December 31, 2014 equaled 50% as contrast to 34% in the same period of 2013
- IGI filed eleven Abbreviated New Drug Applications (ANDAs), in 2014 with the U.S. Food and Drug Administration (FDA)
- Net revenue was $5.6 million in the fourth quarter of 2014, counting a non-cash gain of $2.3 million, contrast to $0.7 million in the same period in 2013
- Net revenue was $5.3 million for the year ended December 31, 2014, counting a non-cash gain of $2.3 million, contrast to a net loss of $0.1 million for the year ended December 31, 2013.
IGI Laboratories is a specialty generic pharmaceutical corporation. Our mission is to be a leading player in the specialty generic prescription drug market.
Walter Energy, Inc (NYSE:WLT), declined -8.76%, and closed at $ 0.882.
Walter Energy, Inc. (WLT), a leading, publicly traded “pure-play” producer of metallurgical coal for the global steel industry, formerly on February 17, declared results for the quarter and year ended December 31, 2014.
Full-Year 2014 Merged Financial Results:
Walter Energy stated a net loss in 2014 of $470.6 million, or $7.10 per diluted share, contrast with a net loss of $359.0 million, or $5.74 per diluted share, in 2013. Comprised of in the Corporation’s financial results are non-cash revenue tax charges and credits, restructuring and asset impairment costs, transportation take-or-pay costs, gains on the early extinguishment of debt and other items. Not including these items, the adjusted net loss for 2014 was $449.8 million, or $6.79 per diluted share. The adjusted net loss for 2013 totaled $237.3 million, or $3.79 per diluted share.
Fourth Quarter 2014 Merged Financial Results:
Walter Energy stated a net loss of $128.1 million, or $1.83 per diluted share, in the fourth quarter of 2014 contrast with a net loss of $174.3 million, or $2.79 per diluted share, in the fourth quarter of 2013. Adjusted net loss for the fourth quarter of 2014 was $137.6 million, or $1.97 per diluted share, as contrast with an adjusted net loss for the preceding-year period of $63.6 million, or $1.02 per diluted share. A reconciliation of net loss to adjusted net loss is offered in the Corporation’s “Reconciliation of Non-GAAP Financial Measures” comprised of with this release.
Merged proceeds totaled $285.6 million, contrast with $472.0 million in the fourth quarter of 2013, reflecting a decrease in average met coal selling prices of $25.19 per metric ton (“MT”) and a decline in met coal sales of 0.9 million metric tons (“MMTs”). Fourth quarter results also reflected a reduction in met coal cash cost of sales of $6.15 per ton and a 23% reduction in selling, general and administrative (“SG&A”) expenses.
Walter Energy, Inc. produces and exports metallurgical coal for the steel industry. It operates through two segments, U.S. Operations, and Canadian and U.K. Operations. The corporation also extracts, processes, markets, and/or possesses mineral reserves of thermal coal and anthracite coal, in addition to produces metallurgical coke and coal bed methane gas.
Akorn, Inc (NASDAQ:AKRX), dropped - 8.15%, and closed at $49.33.
Akorn, Inc. (AKRX), declared that the Corporation filed a Form 12b-25, Notification of Late Filing with the U.S. Securities and Exchange Commission that allows the Corporation to extend the deadline to file its Form 10-K for the year ended December 31, 2014. The Corporation has practiced unforeseen delays in collecting and compiling certain financial and other related data that would be comprised of in the Form 10-K regarding the VersaPharm and Hi-Tech Pharmacal auxiliaries which were not integrated into the Corporation’s centralized accounting department and accounting systems as of December 31, 2014.
In addition, the Corporation has not yet accomplished its assessment of the effectiveness of its internal control over financial reporting as of December 31, 2014 due to the aforementioned factors. The Corporation believes that material weaknesses exist as of December 31, 2014 regarding the completeness and accuracy of underlying data used in the determination of noteworthy estimates and accounting transactions and accurate and timely reporting of its financial results and disclosures in its Form 10-K. There is a possibility that upon completion of its assessment, the Corporation may determine that there are additional material weaknesses as of December 31, 2014.
Akorn, Inc. is a specialty pharmaceutical corporation engaged in the development, manufacture and marketing of multisource and branded pharmaceuticals. Akorn has manufacturing facilities located in Decatur, Illinois; Somerset, New Jersey; Amityville, New York; Hettlingen, Switzerland and Paonta Sahib, India where the corporation manufactures ophthalmic, injectable and specialty non-sterile pharmaceuticals.
