And we think it's probably a more disciplined approach to call this person Chief Accounting Officer because we want to emphasize that person we are bringing onboard isn't somebody who is going to build a personal Rolodex and talk with Wall Street.
I think Craig leaked numbers many times
Financial Results Summary ($, in millions, except per share data)
Income statement highlights F2Q16 F1Q16 F2Q15
Revenues 161.9 151.4 153.1
Service Provider Technology 109.6 103.4 99.7
Enterprise Technology 52.3 48.0 53.4
Cost of Revenues 82.8 77.9 84.1
Gross Profit 79.0 73.5 69.0
Gross Profit (%) 48.8 % 48.5 % 45.1 %
Total Operating Expenses(1) 22.6 13.7 18.3
Income from Operations 56.4 59.8 50.7
GAAP Net Income 49.5 53.8 46.3
GAAP EPS (diluted) 0.57 0.61 0.52
Non-GAAP Net Income 49.7 45.5 47.1
Non-GAAP EPS (diluted) 0.58 0.51 0.53
(1) Includes business e-mail compromise (“BEC”) fraud loss recoveries of $8.0 million and $257 thousand in F1Q16 and F2Q16, respectively.
With no knowledge ..Selloff overdone..
yes gonna cut back a little on expectations.. after reading CC transcript..
As you've see from our release a few minutes ago, revenue for the first quarter grew to $15.7 million, up 47% over the same period in 2015 and up 20% over last quarter. This was driven by few factors. First, the continued growth of our base business which delivered solid results for the quarter. Second, we saw our contract manufacturing business continue to perform strongly as we delivered on commitments for incremental contract business. Finally, our injectable business across North America delivered strong results which were further enhanced by competitors supply challenges and by product launches. Taken together, these elements have allowed us to create a significantly more diversified business set at this time last year.
Products sales from our contract services business were $6.2 million in the first quarter of 2016 compared to $2.4 million in the same quarter last year, and $4.8 million in the fourth quarter of 2015. We were fortunate enough to secure orders from two new customers in the fourth quarter which continued in the first quarter of 2016. We did see additional orders in the second quarter, albeit smaller than previous quarters. It's quite possible we will not see these trends continue throughout the rest of 2016 related to these particular customers.
These orders were higher margin contract customers where we manufactured one of our products in a private label for each of these two customers. These orders were in addition to higher than expected orders from one of our long-term, our ex-contract customers. Contract manufacturing and formulation services revenue from our pharmaceutical customers represented 92% of first quarter revenue compared to 79% in same quarter last year. Sales of OTC and cosmetic products were 8% in this quarter compared to 21% last year
Ill listen to call but is this a one-time type of channel fill for a customer. I thought that contract manufacturing was declining?? .. Should we adjust expectations done a little on this part of this business,..
•Total revenues generated from contract manufacturing services for the three months ended March 31, 2016 and 2015 of $6.5 million and $2.6 million, respectively.
Thanks for your posts .. Can you provide a link to the exact discussion .. I sweep the community board sometimes,but finding specific discussion is a little harder..