Shares of Violin Memory Inc (NYSE:VMEM) ended Friday session in red amid volatile trading. The shares closed down -0.59 points or -36.88% at $1.01 with 24.91 million shares getting traded. Post opening the session at $1.10 the shares hit an intraday low of $0.94 and an intraday high of $1.15 and the price vacillated in this range throughout the day. The company has a market cap of $15.96 million and the numbers of outstanding shares have been calculated to be 24.91 million shares.
Violin Memory Inc (VMEM) on September 08, 2016 announced financial results for the second fiscal quarter ended July 31, 2016.
Second Quarter Fiscal 2017 Financial Highlights
- Second quarter fiscal 2017 revenue of $7.5 million
- Second quarter fiscal 2017 GAAP gross margin of 3%
- Second quarter fiscal 2017 non-GAAP gross margin of 44%
- Second quarter fiscal 2017 GAAP net loss of $0.82 per share
- Second quarter fiscal 2017 non-GAAP net loss of $0.59 per share
“Violin is proactively taking the actions necessary to return the company to growth by leveraging innovation and technology to meet customer needs, while achieving the lowest cost structure in the industry,” said Kevin DeNuccio, President and CEO Violin Memory. “These actions, coupled with expanding Flash Storage Platform Customer engagements, will support the company’s effort to attract additional capital to fuel growth through profitability.”
Shares of First Solar, Inc. (NASDAQ:FSLR) ended Friday session in red amid volatile trading. The shares closed down -1.34 points or -3.48% at $37.13 with 102.36 million shares getting traded. Post opening the session at $38.24 the shares hit an intraday low of $37.13 and an intraday high of $38.44 and the price vacillated in this range throughout the day. The company has a market cap of $3.67 billion and the numbers of outstanding shares have been calculated to be 102.36 million shares. First Solar, Inc. (FSLR) on September 3, 2016 announced that following the Company’s successful leadership transition, the First Solar Board of Directors and James A. Hughes have mutually agreed that Mr. Hughes will no longer serve in an advisory capacity to the Company and will step down from the Board, effective September 1, 2016. As previously announced on April 27, 2016, Mark R. Widmar was appointed Chief Executive Officer, effective July 1, 2016.
“With Mark successfully assuming the role of Chief Executive Officer and the management team continuing to execute our strategic growth plans, the Board and Jim mutually agreed that now is an opportune time for this transition,” said Michael J. Ahearn, First Solar’s Chairman of the Board. “On behalf of the entire Board, I want to thank Jim for his many contributions over the years. Jim is an experienced and talented leader with many opportunities ahead of him. We wish him well in his future endeavors.”