Sales increased 4.9% to $319.3 million in 2009 from $304.3 million in last year’s second quarter ended March 31, 2008 (“2008”). The Company’s net loss for the second quarter was $2.4 million compared to $8.1 million in 2008, a 70% improvement. Net loss per share decreased 72% to $0.05 compared to $0.18 in 2008.
Gross profit in the second quarter was $74.3 million, up $5.9 million from 2008. The Company realized operating income of $1.5 million in the second quarter compared to an operating loss of $6.9 million in 2008, an $8.4 million improvement. As a percentage of net sales, operating income was 0.5% compared to a negative 2.3% last year.
Earnings before interest, taxes, depreciation and amortization, and stock-based compensation, or “Adjusted EBITDA,” was $10.2 million in the second quarter compared to $2.9 million in 2008. Adjusted EBITDA is reconciled to net income in this press release.
What They Do: Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products operating 169 branches in 35 states in the United States and in three provinces in Eastern Canada.
Sonic Automotive (NYSE: SAH) $6.71. Today announced that 2009 first quarter earnings from continuing operations were $5.4 million, or $0.13 per diluted share, before adoption of APB 14-1. The Company's first quarter of 2009 also included pretax expense of $2.0 million, or $0.03 per diluted share, related to the Company's successful debt restructuring efforts. Excluding these restructuring charges, first-quarter profit from continuing operations was $0.16 per diluted share before the adoption of APB 14-1, as shown in the attached reconciliation table.
What They Do: Sonic Automotive, Inc., a Fortune 300 company based in Charlotte, N.C., is the nation's third-largest automotive retailer, operating 159 franchises.
VNUS Medical Technologies (Nasdaq: VNUS) $21.32. Today annnounced its financial results for the first quarter ended March 31, 2009.
Net revenues for the first quarter increased 31% to $24.7 million compared with $18.9 million for the first quarter of 2008. First quarter net income was $1.9 million, compared with a net loss of $0.4 million for the first quarter of 2008 and net income of $3.5 million for the fourth quarter of 2008.
Adjusted EBITDA for the first quarter of 2009 was earnings of $3.6 million, as compared to a loss of $420,000 in the comparable quarter of 2008, and earnings of $5.6 million in the fourth quarter of 2008. For periods with net income, earnings per share, if fully taxed at 38%, would be $0.08 for the first quarter of 2009 compared to earnings per share, if fully taxed at the same rate, of $0.14 in the fourth quarter of 2008. Accordingly, the Company has decided to provide supplemental disclosure of Fully Taxed EPS as a long term measure of growth in earnings on a comparable constant per share basis absent the utilization of net operating loss carryforwards.
What They Do: VNUS is a leading provider of medical devices for the minimally invasive treatment of venous reflux, a progressive condition caused by incompetent vein valves in the leg.
Cytori Therapeutics (Nasdaq: CYTX) $2.02 and and GE Healthcare, a unit of General Electric Company (NYSE: GE), today announced an agreement by which GE Healthcare will commercialize Cytori’s StemSource technology in the North American stem cell banking and research markets. The StemSource technology includes automated equipment to process stem and regenerative cells found in adipose tissue, cryopreserve them or use them directly for research purposes.
What They Do: Cytori develops and globally commercializes regenerative medicine technologies, which provide real-time, point-of-care access to clinical grade regenerative cells.
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