Shares of Delphi Automotive PLC (NYSE:DLPH) ended Thursday session in green amid volatile trading. The shares closed up +0.38 points or 0.54% at $70.67 with 1.62 million shares getting traded. Post opening the session at $70.03, the shares hit an intraday low of $69.96 and an intraday high of $70.80 and the price vacillated in this range throughout the day. The company has a market cap of $19.23 m billion and the numbers of outstanding shares have been calculated to be 272.98 million shares.
Delphi Automotive PLC (DLPH) on Aug. 3, 2016 reported second quarter 2016 revenue of $4.2 billion, an increase of 9% from the prior year period, reflecting the acquisition of HellermannTyton Group PLC (“HellermannTyton”) and continued volume growth in North America, Europe and Asia Pacific. Adjusted for currency exchange, commodity movements, the acquisition of HellermannTyton and the divestiture of the Company’s Reception Systems business, revenue increased by 7% in the second quarter. This reflects growth of 7% in North America, 10% in Europe and 5% in Asia, partially offset by a decline of 19% in South America.
The Company reported second quarter 2016 U.S. GAAP net income from continuing operations of $258 million and earnings from continuing operations of $0.94 per diluted share, compared to $350 million and $1.21 per diluted share in the prior year period. The second quarter 2016 results include pre-tax restructuring charges of $154 million and related asset impairments of $22 million, principally related to programs focused on the continued rotation of our manufacturing footprint to low cost locations in Europe. Second quarter Adjusted Net Income, a non-GAAP financial measure defined below, totaled $435 million, or $1.59 per diluted share, which includes the favorable impact of a reduced share count, offset by a higher tax rate compared to the prior year period. Adjusted Net Income in the prior year period was $386 million, or $1.34 per diluted share.
Second quarter Adjusted Operating Income, a non-GAAP financial measure defined below, was $577 million, compared to $526 million in the prior year period. Adjusted Operating Income margin increased 10 basis points in the second quarter of 2016 to 13.7%, compared with 13.6% in the prior year period, resulting from the continued above-market growth of our businesses in Europe, North America and Asia Pacific, increased earnings from the acquisition of HellermannTyton in December of 2015 and the impact of successful cost reduction initiatives, including our continuing rotation to low cost manufacturing locations in Europe. Depreciation and amortization expense (including asset impairment charges) totaled $190 million in the second quarter, an increase from $135 million in the prior year period, primarily attributable to the acquisition of HellermannTyton in December of 2015.
Shares of Koninklijke Philips NV (ADR) (NYSE:PHG) ended Thursday session in red amid volatile trading. The shares closed down -0.37 points or -1.26% at $29.11 with 1.53 million shares getting traded. Post opening the session at $29.09, the shares hit an intraday low of $28.95 and an intraday high of $29.18 and the price vacillated in this range throughout the day. The company has a market cap of $27.67 billion and the numbers of outstanding shares have been calculated to be 913.01 million shares.
On Sept. 6, 2016 Royal Philips (NYSE: PHG, AEX: PHIA) announced preliminary results of an independent, multi-center Home Oxygen Therapy – Home Mechanical Ventilation (HOT-HMV) study carried out by respiratory experts at St Thomas’ Hospital in London. Philips’ pioneering work in chronic obstructive pulmonary disease (COPD) started several decades ago when it began providing healthcare professionals and patients with innovative treatment solutions and services. Philips’ participation in the HOT-HMV study builds on the company’s global leadership in COPD management.
COPD is on the rise worldwide, estimated to become the third leading cause of death in the next fifteen years, more than breast cancer, colorectal cancer and prostate cancer combined1. Moreover, the U.S. Center for Disease Control and Prevention (CDC) estimates that caring for patients with these chronic conditions, including COPD, accounts for 70 percent of the annual healthcare spending in the United States alone2.
The Philips-sponsored study researched the benefits of home non-invasive ventilation (NIV), referred to as HMV in the study, for patients with COPD. Initial results from this study, which will be presented at the European Respiratory Society (ERS) International Congress, reveal that patients using HOT with HMV are half as likely to be readmitted to the hospital. The HOT-HMV study used a randomized controlled trial that compared the use of HMV and HOT therapies with HOT alone in 116 patients with persistent hypercapnia. Investigators included Dr. Nicholas Hart, Dr. Patrick Murphy and colleagues.
“Our goal with this study was to find a way to provide COPD patients with oxygen therapy, as well as home ventilators, in an effort to lower the number of patients being readmitted to hospitals,” said Dr. Nicholas Hart, professor and clinical and academic director of Lane Fox Respiratory Unit, St Thomas’ Hospital. “The results of the HOT-HMV study have the ability to change the way that COPD patients are treated worldwide. We’re looking forward to continuing the trial over the next five years to monitor survival rates, which we hope will rise, and readmission rates, which will hopefully fall.”