Press Releases

Pre-Market Stocks Roundup: Tesco Corporation (USA)(NASDAQ:TESO), Ambarella Inc(NASDAQ:AMBA)

40049743.cms

Tesco Corporation (USA) (NASDAQ:TESO) stock dropped -6.84% in today’s pre market session with the price of $7.36. Over the last one month and over the past three months, Tesco Corporation shares gained 0.61% and 8.99%, respectively. Furthermore, the stock has gained 10.94% since the start of this year. The company’s shares are trading 1.85% above their 50-day moving average. Additionally, Tesco Corporation has an RSI of 52.35 and beta of 1.06.

Tesco Corporation June 8, 2016 announced that it has priced its underwritten public offering of 7,000,000 common shares of the Company at a price to the public of $7.00 per share. The Company has granted the underwriter a 30-day option to purchase up to an additional 1,050,000 common shares at the offering price (less the underwriting discounts).  The Company expects to close the sale of the common shares on June 14, 2016, subject to customary closing conditions.

The Company intends to use the net proceeds of the offering for general corporate purposes, which could include working capital, capital expenditures, acquisitions or other initiatives.

BofA Merrill Lynch is acting as the sole book-running manager for the offering.

The Company has filed a registration statement including a prospectus and a prospectus supplement with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents the issuer has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the prospectus supplement if you request from BofA Merrill Lynch, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC  28255-0001, email dg.prospectus_requests@baml.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Ambarella Inc(NASDAQ:AMBA) stock on Friday’s pre market session gained 0.60% at price of $52.50. Over the last one month and the previous three months, Ambarella Inc’s shares gained 35.76% and 31.86%, respectively. Additionally, the stock has dropped -6.82% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by 24.46% and 2.28%, respectively.

Ambarella, Inc. (AMBA), a leading developer of low-power, HD and Ultra HD video compression and image processing semiconductors, June 2, 2016 announced financial results for its first quarter of fiscal year 2017 ended April 30, 2016.

Revenue for the first quarter of fiscal 2017 was $57.2 million, down 19.5% from $71.0 million in the same period in fiscal 2016.

Gross margin under U.S. generally accepted accounting principles (GAAP) for the first quarter of fiscal 2017 was 64.2%, compared with 64.7% for the same period in fiscal 2016.

GAAP net income for the first quarter of fiscal 2017 was $1.8 million, or $0.05 per diluted ordinary share, compared with GAAP net income of $18.9 million, or $0.56 per diluted ordinary share, for the same period in fiscal 2016.

Financial results on a non-GAAP basis for the first quarter of fiscal 2017 are as follows:

Gross margin on a non-GAAP basis for the first quarter of fiscal 2017 was 64.6%, compared with 64.8% for the same period in fiscal 2016.

Non-GAAP net income for the first quarter of fiscal 2017 was $11.4 million, or $0.34 per diluted ordinary share. This compares with non-GAAP net income of $23.7 million, or $0.71 per diluted ordinary share, for the same period in fiscal 2016.

Ambarella reports gross margin, net income and earnings per share in accordance with GAAP and, additionally, on a non-GAAP basis. Non-GAAP financial information for the first fiscal quarter excludes the impact of stock-based compensation adjusted for the associated tax impact which includes the effect of any benefits or shortfalls recognized. A reconciliation of the GAAP to non-GAAP gross margin, net income and earnings per share numbers for the periods presented, as well as a description of the items excluded from the non-GAAP calculations, is included in the financial statements portion of this press release.

Total cash, cash equivalents and marketable securities on hand at the end of the first fiscal quarter of 2017 was $323.8 million, compared with $235.2 million at the end of the same quarter a year ago.

Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *