NEW YORK, May 6, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Moments ago, Analysts Review released new research updates concerning several important developing situations including Interface Inc. (NASDAQ: TILE), Titan International Inc. (NYSE: TWI), Gafisa S.A. (NYSE: GFA), John Bean Technologies Corporation (NYSE: JBT), and Civeo Corporation (NYSE: CVEO). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
To access our full PDF reports on a complementary basis, please visit the links below.
Today's update concerns the following companies:
Full PDF Download Links (you may have to copy and paste the following links into your browser):
TILE Research Report: ( http://get.analystsreview.com/pdf/?c=Interface%20Inc.&d=06-May-2015&s=TILE ),
TWI Research Report: ( http://get.analystsreview.com/pdf/?c=Titan%20International&d=06-May-2015&s=TWI ),
GFA Research Report: ( http://get.analystsreview.com/pdf/?c=Gafisa%20S.A.&d=06-May-2015&s=GFA ),
JBT Research Report: ( http://get.analystsreview.com/pdf/?c=John%20Bean%20Technologies&d=06-May-2015&s=JBT ),
CVEO Research Report: ( http://get.analystsreview.com/pdf/?c=Civeo%20Corporation&d=06-May-2015&s=CVEO ).
Analyst Update: Quarterly Financial Results Published
Reviewed by: Rohit Tuli, CFA®
U.S. stocks tumbled on Tuesday as investors turned nervous amid a sharp increase in the US trade deficit gap. The NASDAQ Composite slipped 1.55%, to close at 4,939.33, the S&P 500 declined by 1.18%, to 2,089.46, and the Dow Jones Industrial Average end the session at 17,928.20, down 0.79%. European stocks closed lower on Tuesday amid increasing uncertainty over Greece's future. Germany's DAX 30 fell 2.51%, France's CAC 40 declined 2.12%, and the London's FTSE 100 closed 0.84% lower on Tuesday. Meanwhile, Asian markets drifted on Tuesday as the Reserve Bank of Australia cut interest rates and factory output in China stumbled. The Shanghai Composite; Australia's S&P ASX and Hong Kong's Hang Seng index all fell on Tuesday.
Interface, a worldwide carpet tile company and global leader in sustainability, announced financial results for Q1 FY 2015 (quarter ended April 5, 2015) on April 29, 2015. Sales for the first quarter 2015 were $236.9 million, up 8.2% YoY. On a constant currency basis, sales increased by 17% YoY in Q1 FY 2015, to $256 million. By region, sales in America were up 17% YoY, while in Europe and Asia Pacific sales went up by 12% and 13%, respectively.
Titan International announced first quarter 2015 financial results on April 30, 2015. Sales for Q1 2015 was $402.1 million, a decrease of 25.4% YoY, primarily attributed to the negative impacts of currency movements. Gross profit for Q1 2015 was reported as $42.8 million, compared to $54.6 million in Q1 2014. Income from operations stood at $0.8 million for Q1 2015, higher than $0.3 million in the same quarter year ago.
On April 24, 2015, Gafisa, one of Brazil's leading diversified homebuilders, announced preliminary and unaudited operational results for the first quarter of 2015. Net consolidated pre-sales totaled R$423.3 million in Q1 2015, up 77% YoY. Sales from launches represented 14.1% of the total, while sales from inventory comprised the remaining 85.9%.
JBT Corporation announced its first quarter 2015 results on April 29, 2015. The Company reported total revenue of $225.0 million in Q1 2015, up 13.6% YoY. On a constant currency basis, revenues were up by 18.5% YoY. Segment operating profit increased by 52.5% YoY to $21.5 million in Q1 2015, and corporate expenses fell from $9.1 million to $7.8 million during the same period.
Civeo Corporation (Civeo) reported its financial results for the first quarter 2015 on April 29, 2015. The Company generated total revenues of $171.0 million in Q1 2015, down 32.4% YoY, primarily attributed to lower occupancy levels in Australian villages and Canadian lodges and a stronger currency. Adjusted EBITDA was $53.0 million in Q1 2015, compared to $92.3 million in Q1 2014.
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