@ derrick, i own both ONVO & MTLS I wouldn't be surprised that Organovo is using Matarialise 3D for their kidney work etc. just can't find it on the ONVO website, they both seem like a perfect match, your thoughts? GL.
Sentiment: Strong Buy
KRONOS WORLDWIDE REPORTS FIRST QUARTER 2016 RESULTS
— 4:59 PM ET 05/06/2016
DALLAS, TEXAS.May 6, 2016.Kronos Worldwide, Inc. today reported a net loss for the first quarter of 2016 of $3.8 million, or $.03 per share, compared to net income of $18.4 million, or $.16 per share, in the first quarter of 2015. We reported a net loss in the first quarter of 2016 primarily due to a loss from operations in 2016 resulting from the unfavorable effects of lower average selling prices, partially offset by lower manufacturing and other production costs (primarily raw materials) and higher sales and production volumes, as discussed further below.
Net sales of $318.4 million in the first quarter of 2016 were $46.7 million, or 13% lower than in the first quarter of 2015 primarily due to lower average TiO(2) selling prices, partially offset by higher sales volumes. The Company's average TiO(2) selling prices were 14% lower in the first quarter of 2016 as compared to the first quarter of 2015. The Company's average selling prices at the end of the first quarter of 2016 were 1% lower than at the end of 2015, with slightly lower prices in certain European and North American markets, partially offset by higher prices in certain export markets, which are historically more volatile from period to period due to the variability of product grade and customer mix. TiO(2) sales volumes for the first quarter of 2016 increased 5% as compared to the first quarter of 2015, with higher volumes in European and export markets. Kronos' sales volumes in the first quarter of 2016 set a new record for a first quarter. Fluctuations in currency exchange rates (primarily the euro) also affected net sales comparisons, decreasing net sales by approximately $11 million as compared to the first quarter of 2015. The table at the end of this press release summarizes how each of these items impacted the overall decrease in sales. The Company's TiO(2) segment profit (see description of non-GAAP .
Part 2. nformation below) for the first quarter of 2016 was $3.8 million as compared to $35.6 million in the first quarter of 2015. Segment profit in the first quarter of 2016 decreased primarily due to the net effects of lower average TiO(2) selling prices, lower raw material and other production costs (including cost savings resulting from workforce reductions implemented in 2015 reflected in both cost of sales and other operating expenses), and higher sales and production volumes. We operated our production facilities at overall average capacity utilization rates of 93% and 97% in the first quarter of 2015 and 2016, respectively. Our production capacity utilization in the first quarter of 2015 was impacted by the implementation of certain productivity-enhancing improvement projects at certain facilities, as well as necessary improvements to ensure continued compliance with our permit regulations, which resulted in longer-than- normal maintenance shutdowns in some instances. Fluctuations in currency exchange rates also affected segment profit comparisons, which increased segment profit by approximately $7 million.
Other operating income, net in the first quarter of 2016 includes an insurance settlement gain of $2.0 million ($1.5 million, or $.01 per share, net of income tax expense) related to a 2014 business interruption claim.
ARR is a joke, use to be $7.50 before the Rev Split of 8 to 1 and sole Preferred (2) shares for total dilution for the A shares, The value & Div has pushed the value of ARR to junk value, .WMC also need to clean house from the top end of Executive personal.
I bought my WMC 1K shares for an avg of $9.66 Ea. though i'm disappointed at the decline i'm hopeful the Officers ( I.E Mr. Gavin Lewis James, Chief Executive/ Director & President) and all the BOD will act in the interest of the shareholders and not their own pockets, this shall truly be disappointing & if L. Manson does NOT step in a suit shall surely FOLLOW ! !