Shares of Michael Kors Holdings Ltd (NYSE:KORS) ended Tuesday session in red amid volatile trading. The shares closed down -0.81 points or -1.68% at $47.50 with 169.01 million shares getting traded. Post opening the session at $48.09, the shares hit an intraday low of $47.01 and an intraday high of $48.24 and the price vacillated in this range throughout the day. The company has a market cap of $8.13 billion and the numbers of outstanding shares have been calculated to be 169.01 million shares.
ury lifestyle brand, is excited to introduce the MICHAEL KORS ACCESS display smartwatch, part of its new wearable technology accessories line. The line is geared towards the fashion-focused consumer and combines innovative technology with exceptional style from a leader in luxury fashion.
The cutting-edge technology at the heart of the MICHAEL KORS ACCESS smartwatch, which is compatible with both iPhone® and Android™ phones, is made possible through a partnership with Google, using their Android Wear™ smartwatch platform.
Designed to show that technology and social connectivity should be seamless, the MICHAEL KORS ACCESS line, which also includes activity trackers, proves that access can be both glamorous and effortless. “Our customers love fashion and they’re plugged in 24/7,” says Michael Kors. “I think they’ll appreciate having social connectivity and health and fitness tracking all within a great-looking accessory.”
Shares of Wabash National Corporation (NYSE:WNC) ended Tuesday session in red amid volatile trading. The shares closed down -0.24 points or -1.77% at $13.29 with 63.92 million shares getting traded. Post opening the session at $13.38, the shares hit an intraday low of $13.21 and an intraday high of $13.47 and the price vacillated in this range throughout the day. The company has a market cap of $866.77 million and the numbers of outstanding shares have been calculated to be 63.92 million shares.
Wabash National Corporation (WNC) on July 27, 2016 reported results for the second quarter ended June 30, 2016.
Net income for the second quarter of 2016 was $35.5 million, or $0.53 per diluted share, compared to the second quarter 2015 net income of $28.6 million, or $0.41 per diluted share. Second quarter 2016 non-GAAP adjusted earnings increased $13.0 million, or 55 percent, over the prior year period. Non-GAAP adjusted earnings for the second quarter of 2016 excludes a non-recurring charge of $1.7 million in connection with the Company’s segment realignment announced during the quarter and effective for reporting purposes beginning with the second quarter. Non-GAAP adjusted earnings for the second quarter of 2015 excludes $8.3 million of gains from the sale of two former branch locations and a $0.3 million charge in connection with the refinancing of the Company’s asset based lending facility.
Net sales for the second quarter decreased 8 percent to $471 million from $515 million in the prior year quarter while operating income increased 40 percent on improved pricing and operational execution to $58.9 million, compared to $42.1 million for the second quarter of 2015. Operating EBITDA, a non-GAAP measure that excludes the effects of certain recurring and non-recurring items, for the second quarter of 2016 was $72.8 million, an increase of $19.1 million, or 36 percent, compared to operating EBITDA for the prior year period. On a trailing twelve month basis, net sales totaled $2.0 billion, generating Operating EBITDA of $269.2 million, or 13.5 percent of net sales. The continued year-over-year improvement in operating performance is attributable to the successful execution of the Company’s growth and diversification strategies, strong demand within the Commercial Trailer Products segment and outstanding operational execution across the Company’s manufacturing facilities.