Austin companies see positive earnings reports

Aug 8, 2014
Austin American Statesman

Investors found good news in the quarterly earnings reports released by six Austin companies, sending most of their shares higher on Thursday. However, one company’s stock fell after it said its quarterly earnings dipped


Thermon Group Holdings Inc. led Thursday’s gainers, its shares rising 7 percent after it noted strong order volumes and a backlog for its industrial heat-tracing technologies. Revenue increased to $67.7 million in its fiscal first quarter, a 3.2 percent increase from $65.6 million during the same period last year


The company also said it swung to a profit during the quarter, with net income of $11.5 million (36 cents a share) compared with a loss of $6.9 million (-22 cents a share) last year


LDR Holding Corp. shares increased 5.5 percent after the medical-device company reported rising sales of its exclusive spinal treatment technologies. Revenue jumped 30.7 percent during the second quarter of 2014, to $34.8 million from $26.6 million during the same period last year, the company said


LDR said it also narrowed its losses during the three months, improving to a loss of $2.3 million (-9 cents a share) from a loss of $3.0 million (-62 cents a share)


Shares of Summit Hotel Properties Inc. rose more than 2 percent Thursday, the day after it said an increase in its revenue per available room helped boost sales and earnings. On Wednesday evening, the hotel developer said second-quarter revenue rose by a third, to $105.5 million from $79.1 million. Profit increased at a similar rate, to $9.2 million (6 cents a share) from $6.7 million (4 cents a share)


Jones Energy Inc., which also reported earnings Wednesday evening, said a strong increase in its average net oil production helped drive a 65 percent rise in revenue during the quarter — to $106.4 million from $64.5 million during the same three months last year


Shares of National Western Life Insurance Co. reported its earnings early Thursday afternoon, and its shares ticked slightly higher after the release. The firm said rising market valuations of some of its investment holdings helped boost revenue 13.1 percent during the quarter, to $206.8 million from $182.9 million


Superconductor Technologies Inc. shares closed Thursday’s trading where they began the day, unchanged at $2.56. While revenue in the quarter dropped to $75,000 from $555,000 in the same period last year, the company said it started shipping a new product and drastically cut its losses. Its net loss narrowed to $55,000 (essentially 0 cents a share) from a net loss of $2.4 million last year (-54 cents a share)



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