CALGARY, ALBERTA--(Marketwired - July 29, 2015) - Border Petroleum Limited ("Border" or the "Corporation") (TSX VENTURE:BOR) announces financial results for its financial year ended March 31, 2015. The audited financial statements and mana...
TORONTO, ONTARIO--(Marketwired - July 29, 2015) - HARTE GOLD CORP. ("Harte Gold") (TSX:HRT)(FRANKFURT:H4O)(OTC:HRTFF) is pleased to announce it held its well attended Annual General and Special Meeting today and received overwhelming share...
TORONTO, ONTARIO--(Marketwired - July 29, 2015) - Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR.UN) announced today that it has entered into an agreement to acquire a one-third undivided interest in the re...
TORONTO, ONTARIO--(Marketwired - July 29, 2015) - Eurotin Inc. ("Eurotin" or the "Company") (TSX VENTURE:TIN) is pleased to announce that it has filed its annual audited financial statements and related management's discussion and analysis...
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 29, 2015) -
(In United States dollars, except where noted otherwise)
First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) today announced compara...
TORONTO, ONTARIO--(Marketwired - July 29, 2015) - Constellation Software Inc. (TSX:CSU) ("Constellation" or the "Company") today announced its financial results for the second quarter ended June 30, 2015 and declared a $1.00 per share divi...
TORONTO, ONTARIO--(Marketwired - July 29, 2015) - HudBay Minerals Inc. ("Hudbay" or the "company") (TSX:HBM)(NYSE:HBM) today released its second quarter 2015 financial results.
In the second quarter of 2015, operating cash flow bef...
NEW YORK, NY--(Marketwired - Jul 29, 2015) - Tauriga Sciences, Inc. (OTCQB: TAUG) or ("Tauriga" or the "Company"), a diversified life sciences company, today announced that is has been granted a 7 calendar day extension by OTC Markets to continue trading on the OTCQB exchange despite the Company's inability to file its Form 10-K for the year ended March 31, 2015 ("Form 10-K") with the Securities and Exchange Commission ("SEC") prior to 5:30 pm EDT today, July 29, 2015. If this extension had not been granted, Tauriga's common stock would have been moved to the OTC Pink Limited Information category at open of trading Thursday, July 30, 2015.
Currently, Tauriga has until 5:30 pm EDT on Wednesday, August 5, 2015 to file its Form 10-K with the SEC, otherwise OTC Markets will proceed to move the Company shares to the OTC Pink Limited Information category as discussed above unless granted an additional extension by the OTC Markets. The Company is taking all possible steps to file its Form 10-K prior to the August 5, 2015 deadline.
About TAURIGA SCIENCES, INC.:
Tauriga Sciences, Inc. (OTCQB: TAUG) is a diversified life sciences company focused on generating profitable revenues through its present and future holdings. The mission of the Company is to acquire and build a diversified portfolio of cutting edge technology assets that is capital efficient and of significant value to the shareholders. The Company's business model includes the acquisition of licenses, equity stakes, rights on both an exclusive and non-exclusive basis, and entire businesses. Management is firmly committed to building lasting shareholder value in the short, intermediate, and long terms. Please visit the Company's corporate website at www.tauriga.com
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted. Any securities offered or issued in connection with the above-referenced merger and/or investment have not been registered, and will be offered pursuant to an exemption from registration.
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on TAUG's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors over which TAUG has little or no control. Such forward-looking statements are made only as of the date of this release, and TAUG assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in documents filed from time to time by TAUG with the Securities and Exchange Commission. This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities have not been registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Securities Act and applicable state securities laws.
Food and Drug Administration Disclaimer: None of the statements contained in this press release regarding any of the products either offered or to be offered in the future by the Company have been evaluated by the Food and Drug Administration. Additionally, none of the products is intended to diagnose, treat, cure, or prevent any disease.
Mr. Seth M. Shaw
Chairman and Chief Executive Officer
Tauriga Sciences, Inc.
New York City: + 1-917-796-9926
TORONTO, ONTARIO--(Marketwired - July 29, 2015) - Dominion General Investment Corporation ("Dominion") (TSX VENTURE:DGA.P), a capital pool company as defined under Policy 2.4 of the TSX Venture Exchange, announces today that its board of d...
AUSTIN, TX--(Marketwired - July 29, 2015) - With an eye on advancing security capabilities for both business and home, Security Cameras Direct is pleased to offer consumers the next generation of IR technology in the Alibi 1080p HD 30x Zoom Day/Night IP Outdoor PTZ Speed Dome Camera.
IR technology is a fairly recent addition to the security camera market. Until the last five years, manufacturers were not offering IR choices and instead relied upon ambient lighting to provide the necessary illumination for security cameras. The new generation, SmartIR, brings the technology forward. Traditionally, IR technology featured grainy images and significant digital noise. SmartIR technology uses LED lighting to remove digital noise, vastly improving image quality. By eliminating digital noise, Smart IR cameras reduce bandwidth and storage needs and provide users with faster loading times and a clearer picture. SmartIR technology has the ability to reduce or increase IR strength based upon the object's distance from the camera, allowing for faster detection times. With SmartIR, the camera will automatically reduce the amount of IR energy used as the object moves closer to the camera. This removes oversaturation, allowing for clearer identification. Security Cameras Direct offers a full line of IR security cameras to meet the needs of the consumer.
The latest camera offering this new technology is the Alibi Day/Night IP Outdoor PTZ Speed Dome Camera. With a range of up to 390 feet in complete darkness and a 30X zoom lens, it ensures perfect image capture at any distance, day or night. This camera boasts full 1080p high-definition and enhanced imaging with D-WDR and 3D-DNR, and features a full 360-degree rotation and a 90-degree tilt. The Smart IR technology includes Smart defog to improve clarity and Smart auto tracking ensures the capture of perfect images in any weather and light conditions. The camera is IP66 weather-rated, offering full protection from sand, dust and inclement weather such as rain and snow.
In a recent statement, Security Cameras Direct Project Manager Norman Ragland explained, "This infrared video security camera features an extremely long night-time range of vision. The high-output IR LED array illuminates up to 390 feet in total darkness, and the high-resolution chipset ensures this IR camera picks up every detail. Packed with features, our long range IR security camera has a built-in selectable gain, flicker-less and indoor/outdoor settings to meet the needs of any application. Our infrared video security cameras are a great choice for border protection, military use, airport security, parking-lot protection, wildlife observation and distribution-center surveillance."
To learn more about the Alibi product line, please visit www.securitycamerasdirect.com.
About Security Cameras Direct:
Since 2003, Security Cameras Direct has been providing innovative products and services to industrial, institutional, retail and government facilities. The company has grown into a multi-channel, multi-brand supplier of products designed specifically for security surveillance. Serving more than 130,000 customers throughout North and South America, Security Cameras Direct offers industry leading warranties and lifetime technical support for all its products.
About Observint Technologies:
Observint Technologies is a vertically integrated manufacturer and supplier of professional video surveillance solutions. Observint's comprehensive product portfolio includes: DIGIOP® integrated video and data management solutions; Alibi® high-definition video surveillance solutions; Tirade® wireless transmission products; and 3S Vision multi-megapixel technologies. Observint products and technologies are available through a broad network of national, regional and vertically-focused distribution partners, including owned security providers Supercircuits and Security Cameras Direct. Observint is a portfolio company of The Carlyle Group, one of the world's largest and most diversified global alternative asset management firms.
The following files are available for download:
MONTRÉAL, QUÉBEC--(Marketwired - July 29, 2015) - Osisko Gold Royalties Ltd (the "Corporation" or "Osisko") (TSX:OR) announces that under the terms of a subscription agreement it acquired 2,000,000 units ("Units") of Strongbow Exploration Inc. ("Strongbow") for a price of $0.10 per Unit where each Unit is composed of one common share ("Common Share") and one half of one common share purchase warrant ("Warrant"). Each whole Warrant entitles the holder to acquire one Common Share at a price of $0.20 before July 24, 2017. The Corporation also acquired control indirectly, through its wholly-owned subsidiary Brett Alaska Resources Inc., over 5,000,000 Common Shares of Strongbow at a deemed price of $0.10 per Common Share pursuant to the terms of a properties sale agreement. Osisko has control over 27.3% of the issued and outstanding Common Shares of Strongbow (30.1% on a diluted basis).
Osisko may increase or decrease its investment in Strongbow based on market conditions or other relevant factors.
The subscription was made through a private placement under the accredited investor exemption and under the prospectus exemption for the acquisition of mining properties provided by applicable securities regulation.
In accordance with the Early Warning System, a copy of this news release and the report will be filed with the applicable Canadian Securities Administrators and will be available on SEDAR's website (www.sedar.com)
About Osisko Gold Royalties Ltd
Osisko is an intermediate mining royalty and exploration company with two world-class gold royalty assets. These two cornerstone assets are a 5% net smelter return ("NSR") royalty on the world-class Canadian Malartic gold mine, located in Malartic, Québec, and a 2.0-3.5% NSR on the Éléonore gold mine, located in James Bay, Québec. Osisko also holds a 3% NSR royalty on the Malartic CHL property as well as a 2% NSR royalty on the Upper Beaver, Kirkland Lake and Hammond Reef gold exploration projects in Northern Ontario. The Company also owns a 9.75% equity interest in Labrador Iron Ore Royalty Corporation.
Osisko's head office is located at 1100 Avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.
Senior Vice President, New Business Development
Joseph de la Plante
Vice President, Corporate Development
WATERDOWN, ONTARIO--(Marketwired - July 29, 2015) - Opta Minerals Inc. (TSX:OPM), announced today that it will issue financial results for the second quarter ended June 30, 2015, on Wednesday, August 12th, 2015 after the close of the stock market.
About Opta Minerals Inc.
Opta Minerals Inc. is a vertically integrated provider of custom process optimization solutions and related materials for use primarily in the steel, foundry, loose abrasive cleaning and municipal water filtration industries. The Company currently has production and distribution facilities in Ontario, Québec, Saskatchewan, Louisiana, South Carolina, Virginia, Maryland, Indiana, Michigan, New York, Texas, Florida, Ohio, Idaho, Kosice, Slovakia, Romans-sur-Isère, France and Ermsleben, Germany and one of the broadest product lines in the industry.
Interim President and Chief Executive Officer
905-689-7361, ext. 405
Opta Minerals Inc.
Chief Financial Officer and Treasurer
905-689-7361, ext. 405
CALGARY, ALBERTA--(Marketwired - July 29, 2015) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that Deborah S. Stein has notified AltaGas of her intention to retire on March 31, 2016 after 11 years of dedicated service. AltaGas is pl...
TORONTO, ONTARIO--(Marketwired - July 29, 2015) - ZoomerMedia Limited (TSX VENTURE:ZUM) (the "Company"), the leader in serving the interests of the 45+ "Zoomer" market in Canada, today announced its financial results for the third quarter ...
SAN JOSE, CA--(Marketwired - Jul 29, 2015) - At its meeting today, the California Water Service Group (NYSE: CWT) Board of Directors declared the company's 282nd consecutive quarterly dividend in the amount of $0.1675 per common share. It will be payable on August 21, 2015, to stockholders of record on August 10, 2015.
California Water Service Group is the parent company of California Water Service, Washington Water Service Company, New Mexico Water Service Company, Hawaii Water Service Company, Inc., CWS Utility Services, and HWS Utility Services. Together these companies provide regulated and non-regulated water service to nearly 2 million people in California, Washington, New Mexico, and Hawaii. Group's common stock trades on the New York Stock Exchange under the symbol "CWT."
This news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 ("Act"). The forward-looking statements are intended to qualify under provisions of the federal securities laws for "safe harbor" treatment established by the Act. Forward-looking statements are based on currently available information, expectations, estimates, assumptions and projections, and management's judgment about the Company, the water utility industry and general economic conditions. Such words as expects, intends, plans, believes, estimates, assumes, anticipates, projects, predicts, forecasts or variations of such words or similar expressions are intended to identify forward-looking statements. The forward-looking statements are not guarantees of future performance. They are subject to uncertainty and changes in circumstances. Actual results may vary materially from what is contained in a forward-looking statement. Factors that may cause a result different than expected or anticipated include, but are not limited to: governmental and regulatory commissions' decisions; changes in regulatory commissions' policies and procedures; the timeliness of regulatory commissions' actions concerning rate relief; new legislation; electric power interruptions; increases in suppliers' prices and the availability of supplies including water and power; fluctuations in interest rates; changes in environmental compliance and water quality requirements; acquisitions and our ability to successfully integrate acquired companies; the ability to successfully implement business plans; changes in customer water use patterns; the impact of weather on water sales and operating results; access to sufficient capital on satisfactory terms; civil disturbances or terrorist threats or acts, or apprehension about the possible future occurrences of acts of this type; the involvement of the United States in war or other hostilities; restrictive covenants in or changes to the credit ratings on our current or future debt that could increase our financing costs or affect our ability to borrow, make payments on debt or pay dividends; and, other risks and unforeseen events. When considering forward-looking statements, you should keep in mind the cautionary statements included in this paragraph, as well as the annual 10-K, Quarterly 10-Q, and other reports filed from time-to-time with the Securities and Exchange Commission (SEC). The Company assumes no obligation to provide public updates of forward-looking statements.
1720 North First Street
San Jose, CA 95112-4598
(408) 367-8200 (analysts)
(310) 257-1435 (media)
NORTHRIDGE, CA and CAMBRIDGE, UNITED KINGDOM--(Marketwired - Jul 29, 2015) - Avita Medical Ltd. (ASX: AVH) (OTCQX: AVMXY), a medical device company specializing in the treatment of wounds and skin defects, today announced its financial results and provided a corporate update for the fourth quarter and twelve months ended June 30, 2015.
Adam Kelliher, Avita's Chief Executive Officer, stated, "In the three months since I joined Avita, our team has made tremendous progress in the execution of our commercial growth and clinical development strategies. We further strengthened our ReCell IP portfolio in the fourth quarter, and continued to build awareness of the significant benefits of our regenerative technology platform. The success of these awareness-building efforts was reflected in our fourth quarter ReCell® sales, which increased 132% over the fourth quarter of fiscal 2014. We have a strong team in place executing a sound commercial strategy, and we believe the Company is well positioned to further penetrate our target markets, drive continued revenue growth and expand our business."
Business and Clinical Development Highlights
- Fourth quarter total sales (for regenerative as well as legacy respiratory products) increased by 25% year-over-year and 51% versus the previous quarter
- Fourth quarter sales of ReCell® increased 132% year-over-year and 104% compared to the previous quarter
- Sales of ReCell® in strategic regions increased significantly during fiscal 2015: China +88%, Germany +81%, UK +28% and Australia/New Zealand +13%
- Gained additional intellectual property protection with two newly issued U.S. patents that cover Avita's platform of regenerative products
- Successful results from randomized, controlled repigmentation study published in the Journal of the American Academy of Dermatology
- Nearly 50% of patients (14 of the targeted 30 subjects) are now enrolled in the U.S. FDA pivotal trial for acute burns
- Patients in the Venous Leg Ulcer randomized controlled pilot trial are now being followed-up, with results anticipated in the fourth quarter of CY 2015.
Avita demonstrated strong revenue growth during the fourth quarter and for the fiscal year 2015, as total revenue on a year-over-year basis increased by 25% for the quarter and approximately 3% for the full year. This was driven by strong ReCell® sales in several key strategic markets, including an increase in sales of 28% in the United Kingdom, 13% in Australia & New Zealand, 81% in Germany and 88% in China. Additionally, the Company reduced operating costs almost 2% for fiscal 2015 when compared to the previous fiscal year.
During the quarter, Avita made significant progress in securing protection for its regenerative technology platform. Importantly, the U.S. Patent and Trademark Office (USPTO) issued a patent related to the methods of making and using a transplantable cellular suspension of living tissue suitable for grafting to a patient (patent 9,029,140; issued May 12, 2015), which is an integral part of the ReCell® technology. In addition, the USPTO issued a second patent providing broad protection of the autologous, non-cultured cell suspension prepared peri-operatively and directly applied to the patient epithelial cell suspension (patent 9,078,741; issued July 24, 2015), which covers ReCell®, ReGenerCell™, and ReNovaCell™.
The Company's proprietary regenerative technology platform was recently recognized by a peer-reviewed Journal. In July 2015, the Journal of the American Academy of Dermatology published results of a randomized, controlled study for ReCell®. The results demonstrated safety and efficacy in skin repigmentation for patients who have depigmented skin lesions caused by vitiligo and piebaldism. In the 30 lesion trial, lesions treated using ReCell® had 78% repigmentation versus 0% for lesions in the two control groups (CO2 laser ablation and no treatment). The results were highly statistically significant (p-value =.001).
In addition, Avita provided humanitarian aid to the country of Taiwan by donating a number of free ReCell® devices and sent personnel experienced in burn treatment to provide support requested by Taiwanese authorities following a mass casualty event at a waterpark in which hundreds of people -- many of them teenagers -- were left seriously burned. With Avita's rapid response, the team was on hand and ready to support the medical personnel when significant skin graft operations got underway. Medical professionals used 50 donated devices, and orders have since been placed for 100 more.
Early in the fourth quarter, Avita participated, by invitation, in a key U.S. Government Symposium focused on Emergency Preparedness. Andrew Quick, Avita Medical's VP of Research and Technology, presented to influential delegates on how the ReCell® medical device could be a versatile and effective treatment for burns and skin wounds in a mass casualty event. Along with case studies in which Regenerative Epithelial Suspension™ (RES™) had reduced hospital time and delivered superior outcomes for scalds and massive burn injuries, he explained how the device can work in combination with skin grafts and other standard treatments, and that ReCell® is a simple and versatile way to deliver RES™.
Subsequently, the Biomedical Advanced Research and Development Authority, or BARDA, a U.S. federal agency assigned to ensure the United States is well prepared for public health emergencies, issued a formal public solicitation (www.fbo.gov) indicating they are seeking to fund late-stage development and procurement of autograft-sparing products that can enhance the capacity to provide definitive care for thermal burn injuries. Last week on July 24th, the Company submitted a proposal to BARDA on how this need could potentially be met with ReCell®. BARDA utilizes a competitive bidding process and the awarding of, or timing for, a contract under this solicitation remains uncertain. If Avita were to receive an award, there are no certainties that the Company will be able to satisfy any of the conditions of such award, that the Company can begin to receive any proceeds from any such award within any specific period of time or that we can successfully negotiate a final contract resulting from the award. There may also be unexpected funding delays or the reduction and/or the elimination of BARDA funding under this solicitation. Regardless of the outcome, the Company intends to continue to pursue similar opportunities.
Most recently, an article published in the July/August 2015 issue of Army Technology Magazine reported on innovative regenerative strategies being evaluated by the Armed Forces Institute of Regenerative Medicine to heal complex wounds of military personnel injured in combat. ReCell® is one of two regenerative medicine technologies discussed within the article, in which Dr. Wendy Dean, Tissue Injury and Regenerative Medicine Program Management Office medical advisor at the U.S. Army Medical Materiel Development Activity, said, "The promise of both of these new technologies is that they could be the first substantial change in how burn and skin injuries are treated in the last half century. Sparing burn patients the pain of large donor sites, or offering surgeons a ready-made, permanent option for wound coverage could lead to a paradigm shift in skin injury treatment." The article explained how Avita's ReCell® device takes only 30 minutes to use a patient's own cells to create a healing suspension, which can treat a skin wound 80 times larger than the skin sample taken, adding that "ReCell speeds the healing process, decreases the need to harvest skin from donor sites and improves the appearance of the burn scars."
ABOUT RECELL® AND RES™
ReCell® is Avita Medical's unique proprietary technology that enables a clinician to rapidly create, at point of care in approximately 30 minutes, Regenerative Epithelial Suspension (RES™) using a small sample of the patient's skin. RES™ is an autologous suspension comprising the cells and wound healing factors necessary to regenerate natural, healthy skin. RES™ has a broad range of applications and can be used to restart healing in unresponsive wounds, to repair burns using less donor skin yet with improved functional and aesthetic outcomes, and to restore pigmentation and improve cosmesis of damaged skin.
ABOUT AVITA MEDICAL LIMITED
Avita Medical develops and distributes regenerative products for the treatment of a broad range of wounds, scars and skin defects. Avita's patented and proprietary collection and application technology provides innovative treatment solutions derived from a patient's own skin. The Company's lead product, ReCell®, is used in the treatment of a wide variety of burns, plastic, reconstructive and cosmetic procedures. ReCell® is patented, CE‐marked for Europe, TGA‐registered in Australia, and CFDA‐cleared in China. In the United States, ReCell® is an investigational device limited by federal law to investigational use. A pivotal U.S. trial is underway, with patient enrollment completion anticipated by the end of 2015. To learn more, visit www.avitamedical.com.
Release with 4C report, click here.
FOR FURTHER INFORMATION
Avita Medical Ltd
Chief Executive Officer
Phone: +44 (0) 1763 269 772
Avita Medical Ltd
Chief Financial Officer
Phone: + 1 (818) 356-9400
Avita Medical Ltd
Phone: +61(0) 8 9474 7738
The Ruth Group
Phone: +1 (646) 536-7012
Phone: +1 (646) 536-7014
FOR IMMEDIATE RELEASE
O-I REPORTS SECOND QUARTER 2015 RESULTS
Stable results in North America and Asia Pacific;
headwinds in Europe and South America
PERRYSBURG, Ohio (July 29, 2015)
- Owens-Illinois, Inc. (NYSE: OI) today reported financial results for the second quarter ending June 30, 2015.
Second quarter 2015 earnings
from continuing operations attributable to the Company were $0.26 per share (diluted). Excluding certain items management considers not representative of ongoing operations, adjusted earnings
were $0.60 per share, which was at the high end of management guidance. This compares to second quarter 2014 earnings of $0.80 per share on a reported basis, and to $0.65 per share on a constant currency basis.1
Volumes were down 1 percent on a global basis year-over-year,
largely a result of lower beer shipments in Brazil. Shipments for all other regions combined were flat.
As expected, lower segment operating profit was partially offset by favorable non-operational items, including pension, interest and tax.
Segment operating profit declined $75 million; $39 million on a constant currency basis. In North America and Asia Pacific, segment operating profits were on par with the prior year second quarter. As indicated in the quarter, lower beer shipments in Brazil, against record sales in the comparable period, led to lower financial performance in South America. Profit in Europe was adversely impacted by planned production downtime and lower selling prices.
In May 2015, the Company announced its proposed acquisition of Vitro, S.A.B. de C.V.'s food and beverage glass container business
in an all-cash transaction valued at approximately $2.15 billion. Vitro is the largest supplier of glass containers in Mexico. The transaction, which is currently expected to close in the second half of 2015, is projected to be accretive to cash flow and earnings per share in the first year after closing.
Commenting on the Company's second quarter results, Chairman and Chief Executive Officer Al Stroucken said, "Our performance in the second quarter was in line with expectations, as favorable results from non-operational items offset incremental weakness in Brazil. Our North America and Asia Pacific regions delivered solid results in the quarter. In Europe, asset optimization and furnace rebuilds, coupled with ongoing competitive pressure, resulted in lower profits. In South America, we successfully offset energy and soda ash inflation with price increases. Profits were impacted by a sharper than expected contraction in Brazil beer sales. Overall, our earnings per share benefited from the refinancing of $300 million in high coupon bonds and the completion of a $100 million accelerated share buyback program."
Net sales in the second quarter of 2015 were $1.5 billion, down $254 million from the prior year second quarter. Adverse currency translation caused by the strength of the U.S. dollar accounted for approximately $240 million of the decline in net sales. On a constant currency basis, the decline in net sales was approximately 1 percent. Price was essentially flat on a global basis, with lower prices in Europe and North America largely offset by higher prices in South America.
Global sales volume declined by approximately 1 percent year-over-year. Shipments in Europe were consistent with the prior year second quarter. Volume in North America increased nearly 2 percent, where a modest decline in beer shipments was more than offset by higher shipments in all other categories. Volume in Asia Pacific contracted 3 percent, partly due to the waning impact of plant shutdowns in China in 2014. While wine demand trends suggest sequential stabilization in Australia, shipments there were still modestly lower than prior year. Sales volume in South America contracted 10 percent. The decline was most pronounced in Brazil, albeit from record sales in the comparable 2014 period. Excluding beer, shipments in Brazil were flat compared to prior year.
Segment operating profit was $187 million in the second quarter, down $75 million compared with the prior year quarter. On a constant currency basis, segment operating profit was down $39 million.
Excluding the impact of foreign currency, segment operating profit in North America and Asia Pacific were similar to the prior year second quarter. Europe's operating profit declined $45 million, with more than 40 percent of the decrease related to the devaluation of the Euro. Similar to the trend experienced in the first quarter, average selling prices in Europe were approximately 1 percent lower year on year due to competitive pressures, primarily in Southern Europe. As expected, Europe reported more production downtime than in the prior year due to planned furnace rebuilds and engineering activities associated with the asset optimization program. Europe results were dampened by the timing of a sizeable energy credit. In 2014, the credit was recognized in the second quarter, whereas in 2015, Europe is expecting that energy credit in the third quarter.
In South America, operating profit declined $26 million, of which more than 40 percent was caused by currency translation, primarily due to the weakening Brazilian real and the Colombian peso. The aforementioned lower sales volumes contributed to lower profits. Price gains from annual price adjustment formulas and intensified commercial activity offset almost all of the rising raw material and electricity costs in the region. The prior year period benefited from approximately $6 million of non-strategic asset sales, which did not repeat in the current year.
Corporate and other costs improved by $11 million compared with the prior year second quarter. This was driven by lower pension expense and episodic sales of machine parts to licensees.
Net interest expense
in the quarter decreased by $8 million, compared with the same period of 2014, due to debt refinancing and the positive currency impact on Euro-denominated debt. In the quarter, the Company completed a new $2.1 billion bank credit agreement and repaid $300 million of high coupon senior notes due in 2016, both of which enhance the Company's financial flexibility.
In May 2015, the Company announced the proposed acquisition of Vitro, S.A.B. de C.V.'s food and beverage glass container business. The transaction provides the Company with a competitive position in the attractive and growing glass segment of the packaging market in Mexico. The deal is expected to be accretive to cash flow and earnings per share in the first year after closing and is currently expected to close in the second half of 2015.
Commenting on the Company's outlook for the third quarter, Stroucken said, "We have begun to see the stabilization of market and demand trends. North American manufacturing operations are expected to continue to improve, and Asia Pacific volumes will benefit from a major new beer contract in Australia. Lower volumes in South America, especially Brazil, are likely to continue weighing on the region's profitability. European results in the quarter will be dampened by the carryover of production downtime from engineering projects and lower prices. The Company will continue to benefit from lower pension and interest expense. On balance, earnings should be similar to prior year results on a constant currency basis."
The Company expects adjusted EPS for full year 2015 to be in the range of $2.00 to $2.20 per share and free cash flow to be approximately $250 million for the year. The Company's guidance does not reflect the potential impact of the Vitro food and beverage business acquisition.
Owens-Illinois, Inc. (NYSE: OI) is the world's largest glass container manufacturer and preferred partner for many of the world's leading food and beverage brands. The Company had revenues of $6.8 billion in 2014 and employs approximately 21,100 people at 75 plants in 21 countries. With global headquarters in Perrysburg, Ohio, USA, O-I delivers safe, sustainable, pure, iconic, brand-building glass packaging to a growing global marketplace. For more information, visit
O-I's Glass Is Life(TM) movement promotes the widespread benefits of glass packaging in key markets around the globe. Learn more about the reasons to choose glass and join the movement at
The information presented above regarding adjusted net earnings and adjusted EPS relates to net earnings from continuing operations attributable to the Company exclusive of items management considers not representative of ongoing operations and does not conform to U.S. generally accepted accounting principles (GAAP). It should not be construed as an alternative to the reported results determined in accordance with GAAP. Management has included this non-GAAP information to assist in understanding the comparability of results of ongoing operations. Further, the information presented above regarding free cash flow does not conform to GAAP. Management defines free cash flow as cash provided by continuing operating activities less capital spending (both as determined in accordance with GAAP) and has included this non-GAAP information to assist in understanding the comparability of cash flows. Management uses non-GAAP information principally for internal reporting, forecasting, budgeting and calculating compensation payments. Management believes that the non-GAAP presentation allows the board of directors, management, investors and analysts to better understand the Company's financial performance in relationship to core operating results and the business outlook.
The Company routinely posts important information on its website -
This document contains "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. Forward-looking statements reflect the Company's current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words "believe," "expect," "anticipate," "will," "could," "would," "should," "may," "plan," "estimate," "intend," "predict," "potential," "continue," and the negatives of these words and other similar expressions generally identify forward looking statements. It is possible the Company's future financial performance may differ from expectations due to a variety of factors including, but not limited to the following: (1) the Company's ability to consummate the Vitro Acquisition on a timely basis or at all, (2) risks associated with governmental approvals of the Vitro Acquisition, (3) the Company's ability to integrate the Vitro Business in a timely and cost effective manner, to maintain on existing terms the permits, licenses and other approvals required for the Vitro Business to operate as currently operated, and to realize the expected synergies from the Vitro Acquisition, (4) risks associated with the significant transaction costs and additional indebtedness that the Company expects to incur in financing the Vitro Acquisition, (5) the Company's ability to realize expected growth opportunities and cost savings from the Vitro Acquisition, (6) foreign currency fluctuations relative to the U.S. dollar, specifically the Euro, Brazilian real, Mexican peso, Colombian peso and Australian dollar, (7) changes in capital availability or cost, including interest rate fluctuations and the ability of the Company to refinance debt at favorable terms, (8) the general political, economic and competitive conditions in markets and countries where the Company has operations, including uncertainties related to economic and social conditions, disruptions in capital markets, disruptions in the supply chain, competitive pricing pressures, inflation or deflation, and changes in tax rates and laws, (9) consumer preferences for alternative forms of packaging, (10) cost and availability of raw materials, labor, energy and transportation, (11) the Company's ability to manage its cost structure, including its success in implementing restructuring plans and achieving cost savings, (12) consolidation among competitors and customers, (13) the ability of the Company to acquire businesses and expand plants, integrate operations of acquired businesses and achieve expected synergies, (14) unanticipated expenditures with respect to environmental, safety and health laws, (15) the Company's ability to further develop its sales, marketing and product development capabilities, and (16) the timing and occurrence of events which are beyond the control of the Company, including any expropriation of the Company's operations, floods and other natural disasters, events related to asbestos-related claims, and the other risk factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 and any subsequently filed Quarterly Report on Form 10-Q. It is not possible to foresee or identify all such factors. Any forward-looking statements in this document are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. While the Company continually reviews trends and uncertainties affecting the Company's results of operations and financial condition, the Company does not assume any obligation to update or supplement any particular forward-looking statements contained in this document.
Conference call scheduled for July 30, 2015
O-I CEO Al Stroucken and acting CFO John Haudrich will conduct a conference call to discuss the Company's latest results on Thursday, July 30, 2015, at 8:00 a.m., Eastern Time. A live webcast of the conference call, including presentation materials, will be available on the O-I website,
, in the Presentations & Webcast section.
The conference call also may be accessed by dialing 888-733-1701 (U.S. and Canada) or 706-634-4943 (international) by 7:50 a.m., Eastern Time, on July 30. Ask for the O-I conference call. A replay of the call will be available on the O-I website,
, for a year following the call.
Contact: Sasha Sekpeh, 567-336-5128 - O-I Investor Relations
Barbara Owens, 567-336-5585 - O-I Corporate Communications
O-I news releases are available on the O-I website at
O-I's third quarter 2015 earnings conference call is currently scheduled for Wednesday, October 28, 2015, at 8:00 a.m., Eastern Time.
Adjusted earnings refers to earnings from continuing operations attributable to the Company, excluding items management does not consider representative of ongoing operations. In the second quarter of 2014, there were no such items. In constant currency terms, the prior year amount reflects second quarter 2015 exchange rates. See the table entitled Reconciliation to Adjusted Earnings and Constant Currency in this release.
Excluding charges of $28 million during the second quarter of 2015 for note repurchase premiums and the write-off of finance fees related to debt that was repaid prior to its maturity.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Owens-Illinois, Inc. via GlobeNewswire
MENLO PARK, CA--(Marketwired - Jul 29, 2015) - Corcept Therapeutics Incorporated (NASDAQ: CORT) today announced it will report second quarter financial results and provide a corporate update on August 5, 2015. The Company will also host a conference call that day at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time).
Conference Call Information
To participate, dial 1-888-771-4371 from the United States or 1-847-585-4405 internationally approximately 10 minutes before the start of the call. The passcode is 40261436.
A replay will be available through August 19, 2015 at 1-888-843-7419 from the United States and 1-630-652-3042 internationally. The passcode is 40261436.
About Corcept Therapeutics Incorporated
Corcept is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, oncologic and psychiatric disorders. Korlym® (mifepristone), a first generation competitive GR antagonist, is the company's first FDA-approved medication. The company is conducting a Phase 1/2 trial of mifepristone for the treatment of triple-negative breast cancer and is planning Phase 2 studies of CORT125134, one of its next-generation selective GR antagonists, for the treatment of Cushing's syndrome and an oncology indication. The company has developed a proprietary portfolio of other selective GR antagonists that competitively block the effects of cortisol but not progesterone. Corcept owns or has exclusively licensed extensive intellectual property covering the use of GR antagonists, including mifepristone, in the treatment of a wide variety of metabolic, oncologic and psychiatric disorders. It also holds composition of matter patents for its selective GR antagonists.
RALEIGH, NC--(Marketwired - Jul 29, 2015) - Highwoods Properties (NYSE: HIW) Board of Directors today declared a cash dividend of $0.425 per share of common stock for the quarter ended June 30, 2015, which equates to an annual dividend of $1.70 per share. This quarterly dividend is payable on September 9, 2015 to shareholders of record as of August 17, 2015.
The Board also declared a cash dividend of $21.5625 per share of the Company's 8 5/8% Series A Cumulative Redeemable Preferred Stock. The dividend is payable on August 31, 2015, which is the next regularly scheduled dividend payment date, to shareholders of record as of August 17, 2015.
About Highwoods Properties
Highwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE: HIW) real estate investment trust ("REIT") and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Kansas City, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa. For more information about Highwoods Properties, please visit our website at www.highwoods.com.
Up to 64% of patients achieved DAS28(CRP) remission or low disease state, all doses and regimens statistically significant at week 24
Safety profile consistent with data at week 12: increased hemoglobin, higher increases in HDL than LDL, no change to lymphocyte counts
Webcast presentation of the results to be held on 30 July 2015, 16.00 CET/10 AM EDT/7 AM PDT,
+32 2 789 2126, access code
call number info further down
Mechelen, Belgium; 29 July 2015: Galapagos NV (Euronext: GLPG)
announced today that at week 24, patients treated with the selective JAK1 inhibitor filgotinib showed further improvement in signs and symptoms of rheumatoid arthritis activity, as demonstrated by improved ACR responses, DAS28(CRP), and other scores, compared to week 12 in the DARWIN 1 Phase 2B methotrexate add-on study. In this study, filgotinib was well tolerated. The initial increase in hemoglobin levels was sustained to week 24. The higher relative increase in HDL compared to LDL remained stable over 24 weeks. Lymphocyte counts were not impacted by filgotinib. These 24 week results are consistent with the efficacy/safety profile of filgotinib previously observed.
DARWIN 1 was a 24 week, double-blind, placebo-controlled evaluation of filgotinib, as once- and twice-daily administration (QD and BID dosing) at 3 daily dose levels. Final results are reported for all 594 patients with moderate to severe rheumatoid arthritis who showed an inadequate response to methotrexate and who remained on their background therapy of methotrexate. These patients received filgotinib or placebo and were evaluated up to 24 weeks.
Summary of the ACR/DAS28(CRP) scores at week 24:
|Once-daily dosing||Twice-daily dosing|
|ACR20 responders, NRI, %||42||55||60||73***||56||60||80***|
|ACR50 responders, NRI, %||17||35*||46***||50***||35*||35*||55***|
|ACR70 responders, NRI, %||9||22*||33**||29**||21*||24*||39***|
|DAS28(CRP) equal to or less than 3.2, LOCF,%||19||33*||51***||51***||40**||38*||64***|
* p< 0.05 vs. placebo; ** p<0.01 vs. placebo; *** p<0.001 vs. placebo; ACR scores based on intent to treat (ITT) analysis, with non-responder imputation (NRI). The DAS28(CRP) is analyzed on a last observation carried forward (LOCF) basis. Subjects who switch treatment at week 12 are handled as if they discontinued at week 12.
Overall, there was no statistically relevant difference between the once-daily and twice-daily dosing regimens.
Since this is the final analysis, the 24-week DARWIN 1 safety data are unblinded. Over all dose groups including placebo, 3.9% of patients stopped treatment during the study for safety reasons. Patients reporting serious (2.5% overall) and non-serious treatment-emergent adverse events were evenly spread over the dose groups including placebo. Serious infections were reported in 6 patients, including one death on active treatment in the second half of the study and for which the DSMB (Data Safety Monitoring Board) did not see a reason to pause or change the study. No opportunistic infections were reported. Herpes zoster infection occurred in 5 patients, equally spread over placebo and filgotinib groups. Consistent with its selective JAK1 inhibition, filgotinib treatment led to an improvement in hemoglobin (up to 0.5 g/dL, or 4% increase from baseline). All lipid fractions including HDL and LDL increased, with the largest percentage increase in HDL. Lymphocytes were not impacted by treatment with filgotinib in this study. No clinically significant changes or discontinuations were observed for male reproductive hormones.
"These 6-month data confirm the strong efficacy already observed after 3 months. Furthermore, for the parameters most relevant to patients, such as ACR70 and DAS28 remission, increased responses were reported. Importantly, placebo patients switching to the mid dose quickly responded. On top of this, the good safety profile was sustained," said Prof. René Westhovens from the University of Leuven, Belgium, and Principal Investigator for DARWIN 1.
"Galapagos is extremely pleased with the final data in the DARWIN 1 study, which show promising efficacy and the potential for a differentiated safety profile. It is especially gratifying to see these results with filgotinib after 10 years of work on the JAK1 target, and we look forward to confirming these results in the Phase 3 RA studies," said Dr Piet Wigerinck, Chief Scientific Officer of Galapagos. "We anticipate the DARWIN 2 week 24 results in just a few weeks, the AbbVie licensing decision after that, and the FITZROY Crohn's disease Phase 2 study 10 week interim results before year end."
About the DARWIN 1 study and its measures
The primary endpoint of the DARWIN 1 study was efficacy in terms of percentage of subjects achieving an ACR20 response after 12 weeks of treatment. In accordance with the protocol for the DARWIN 1 study, at week 12, subjects on placebo or lower doses of filgotinib who did not achieve 20% improvement in swollen joint count and tender joint count were re-randomized automatically to another treatment arm with either a 50 mg (twice daily) or 100mg (once daily) dose. Subjects in the other groups maintained their randomized treatment until week 24. Secondary trial objectives included efficacy in terms of the percentage of subjects achieving an ACR20 response at week 24, ACR50 and ACR70 response and other disease activity measures, as well as safety and tolerability and effects on fatigue and quality of life.
Conference call and webcast presentation
Galapagos will conduct a conference call open to the public tomorrow, 30 July 2015, at 16:00 CET/10 AM EDT/7 AM PDT, which will also be webcast. To participate in the conference call, please call one of the following numbers ten minutes prior to commencement:
|London, United Kingdom:||+44 20 3427 1908|
|Toll free - United Kingdom:||0800 279 4977|
|New York, United States of America:||+1 646 254 3364|
|Toll free - United States of America:||1 877 280 2342|
|Amsterdam, Netherlands:||+31 20 713 2790|
|Toll free - Netherlands:||0800 020 2577|
|Brussels, Belgium:||+32 2 789 2126|
|Toll free - Belgium:||0800 58033|
|Paris, France:||+33 1 70 80 17 65|
|Toll free - France:||0805 631 579|
A question and answer session will follow the presentation of the results. Go to www.glpg.com to access the live audio webcast. The archived webcast, PDF of the slides, and a transcript will also be available on the Galapagos website later in the day.
(Euronext & NASDAQ: GLPG) is a clinical-stage biotechnology company specialized in the discovery and development of small molecule medicines with novel modes of action, with a pipeline comprising three Phase 2 programs, two Phase 1 trials, five pre-clinical studies, and 20 discovery small-molecule and antibody programs in cystic fibrosis, inflammation, and other indications. In the field of inflammation, AbbVie and Galapagos signed a collaboration agreement for the development and commercialization of
. Filgotinib is an orally-available, selective inhibitor of JAK1 for the treatment of rheumatoid arthritis and potentially other inflammatory diseases, currently in Phase 2B studies in RA and in Phase 2 in Crohn's disease. Galapagos reported good activity and a favorable safety profile in both the DARWIN 1 and DARWIN 2 studies in RA. AbbVie and Galapagos also signed a collaboration agreement in cystic fibrosis to develop and commercialize molecules that address mutations in the CFTR gene. Potentiator
is currently in a Phase 1 trial, and corrector GLPG2222 is at the pre-clinical candidate stage.
a first-in-class inhibitor of GPR84 and fully-owned by Galapagos, is currently being tested in a Phase 2 proof-of-concept trial in ulcerative colitis patients.
, a fully proprietary, first-in-class inhibitor of autotaxin, has shown favorable safety in a Phase 1 trial and is expected to enter Phase 2 in idiopathic pulmonary fibrosis. The Galapagos Group, including fee-for-service subsidiary Fidelta, has approximately 400 employees, operating from its Mechelen, Belgium headquarters and facilities in The Netherlands, France, and Croatia. More info at
Elizabeth Goodwin, Head of Corporate Communications & IR
Tel: +31 6 2291 6240
Galapagos forward-looking statements
This release may contain forward-looking statements, all of which involve certain risks and uncertainties. These statements are often, but are not always, made through the use of words or phrases such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will," "could," "stands to," "continues," "we believe," "we intend," as well as similar expressions. Such forward-looking statements may involve known and unknown risks, uncertainties and other factors which might cause the actual results, financial condition, performance or achievements of Galapagos, or industry results, to be materially different from any historic or future results, financial conditions, performance or achievements expressed or implied by such forward-looking statements. Among the factors that may result in differences are the inherent uncertainties associated with competitive developments, clinical trial and product development activities, regulatory approval requirements and estimating the commercial potential of our product candidates. A further list and description of these risks, uncertainties and other risks can be found in the company's Securities and Exchange Commission filing and reports, including in the company's prospectus filed with the SEC on May 14, 2015 and future filings and reports by the company. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. Galapagos expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, unless required by law or regulation.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Galapagos NV via GlobeNewswire