Shares of FireEye Inc (NASDAQ:FEYE) ended Friday session in red amid volatile trading. The shares closed down -0.06 points or -0.43% at $14.02 with 4.22 million shares getting traded. Post opening the session at $14.01, the shares hit an intraday low of $13.88 and an intraday high of $14.23 and the price vacillated in this range throughout the day. The company has a market cap of $2.37 billion and the numbers of outstanding shares have been calculated to be 169.68 million shares.
FireEye Inc (FEYE) on Aug 4, 2016 announced financial results for the second quarter ended June 30, 2016.
Second Quarter 2016 Financial Results
- Revenue of $175.0 million, an increase of 19 percent from the second quarter of 2015.
- Billings of $196.4 million, an increase of 10 percent from the second quarter of 2015.
- GAAP operating margin of negative 73 percent, compared to negative 87 percent in the second quarter of 2015.
- Non-GAAP operating margin of negative 28 percent, compared to negative 41 percent in the second quarter of 2015.
- GAAP net loss per share of $0.86, compared to GAAP net loss per share of $0.87 in the second quarter of 2015.
- Non-GAAP net loss per share of $0.33, compared to a non-GAAP net loss per share of $0.41 in the second quarter of 2015.
- Cash flow from operations of negative $13.1 million, compared to cash flow from operations of $39.1 million in the second quarter of 2015.
“Our second quarter results showed fundamental strength in several areas — sales of our next generation endpoint offering increased more than 65 percent from a year ago, renewal billings were strong, we added more than 300 new customers, and we closed 40 transactions above $1 million,” said Kevin Mandia, FireEye chief executive officer. “Although total billings and revenue were below our expectations, efforts to optimize our cost structure resulted in a sequential decline in our costs and loss per share exceeded our expectations.”
“I believe FireEye has competitive advantages that will help re-invigorate our growth and deliver shareholder value in the future,” added Mandia. “Our MVX advanced threat detection engine, powered by our threat intelligence, leads the industry in high fidelity detection of unknown threats. Our global infrastructure allows us to deliver FireEye as a Service to customers around the world, and the expertise of our security consultants positions us as a trusted advisor to organizations and governments. As we introduce the latest versions of FireEye products, improve sales execution, and continue to optimize our costs, I believe we will see steady improvement in our performance. We still have much work to do, but I am convinced that FireEye has the critical assets necessary for long term success, and that we are taking additional steps to achieve balanced growth and profitability.”
Shares of STMicroelectronics NV (ADR) (NYSE:STM) ended Friday session in red amid volatile trading. The shares closed down -0.13 points or -1.66% at $7.66 with 4,145,722 shares getting traded. Post opening the session at $7.69, the shares hit an intraday low of $7.58 and an intraday high of $7.73 and the price vacillated in this range throughout the day. The company has a market cap of $6.86 billion and the numbers of outstanding shares have been calculated to be 883.27 million shares.
STMicroelectronics NV (ADR) (STM) on July 27, 2016 reported financial results for the second quarter and first half ended July 2, 2016.
Second Quarter Review
Second quarter net revenues increased 5.6% sequentially, above the midpoint of the Company’s guidance. Automotive and Discrete Group (ADG) revenues, representing the largest product group of ST, increased 7.5% on a sequential basis driven by a strong recovery in demand for power discrete products and continued and broad-based strength in automotive products. Microcontrollers and Digital ICs Group (MDG) increased 4.6% on a sequential basis driven by general purpose microcontrollers and digital ASICs for networking applications. Analog and MEMS Group (AMG) revenues increased sequentially 1.8% driven by analog products partially offset by lower sales of MEMS products. Specialized image sensors, reported in Others, registered a strong sequential revenue growth.
On a year-over-year basis, second quarter net revenues decreased 3.2%, or 1.7% excluding businesses undergoing a phase-out (mobile legacy products, camera modules and set-top box). As anticipated, automotive, including ADAS solutions, and microcontrollers, led by general purpose, continued to be strong, growing revenues about 6% and 4%, respectively, compared to the year-ago quarter. In the second quarter, specialized image sensors posted year-over-year growth. Power discretes, still impacted by weaker market conditions compared to the year-ago period, decreased as did digital reflecting the discontinued product lines. AMG revenues decreased 15.4% compared to the year-ago period mainly due to lower wireless and computer peripheral applications sales.
Second quarter net revenues totaled $1.70 billion, gross margin was 33.9%, and net earnings were $0.03 per share.
“In the second quarter, we made another step towards our goal to return to year-over-year sales growth in the second half of 2016. Sequentially, revenues increased 5.6% and gross margin improved 50 basis points. We also made progress in our set-top box restructuring program and well managed our cash flow,” commented Carlo Bozotti, STMicroelectronics President and Chief Executive Officer.
“Sequential revenue growth came from the progress we are making on our areas of strategic focus, Smart Driving and Internet of Things. Our automotive business enjoyed another strong quarter across all applications; our general purpose microcontroller business had another record billing performance, driven by STM32; our Time-of-Flight specialized image sensors entered multiple smartphone models and our power discretes started a broad-based recovery.”