Day: April 23, 2020

-New Home Orders up 26% Year-Over-Year- -Backlog Dollar Value up 31% Year-Over-Year- -Homebuilding Gross Margin Percentage of 20.5%- -Diluted Earnings Per Share of $0.24- -Ended the Quarter with $678 Million of Total Liquidity-IRVINE, Calif., April 23, 2020 (GLOBE NEWSWIRE) — TRI Pointe Group, Inc. (the “Company”) (NYSE:TPH) today announced results for the first quarter ended March 31, 2020.“While I am extremely pleased with our results this quarter, TRI Pointe Group’s primary focus over the past several weeks has been the health and well-being of its employees, trade partners and customers since the outbreak of COVID-19,” said TRI Pointe Group Chief Executive Officer Doug Bauer.  “As soon as the threat of the virus became evident, we adjusted our business practices to substantially limit in-person interaction and promote social...

ANDOVER, Mass., April 23, 2020 (GLOBE NEWSWIRE) — Vicor Corporation (NASDAQ: VICR) today reported financial results for the first quarter ended March 31, 2020.  These results will be discussed later today at 5:00 p.m. Eastern Time, during management’s quarterly investor conference call.  The details for the call are presented below. Revenues for the first quarter ended March 31, 2020 totaled $63.4 million, a 3.5% decrease from $65.7 million for the corresponding period a year ago, and a 0.4% sequential increase from $63.1 million the fourth quarter of 2019. Gross margin decreased to $27.3 million for the first quarter of 2020, compared to $31.1 million for the corresponding period a year ago, and decreased sequentially from $29.8 million for the fourth quarter of 2019.  Gross margin, as a percentage of revenue, decreased to 43.1%...

ATLANTA, April 23, 2020 (GLOBE NEWSWIRE) — Atlantic Capital Bancshares, Inc. (NASDAQ: ACBI) announced net income from continuing operations for the quarter ended March 31, 2020 of $2.1 million, or $0.10 per diluted share, compared to $6.4 million, or $0.26 per diluted share, for the first quarter of 2019 and $7.1 million, or $0.32 per diluted share, for the fourth quarter of 2019. The decrease in net income was predominantly driven by increases in credit reserves in anticipation of the expected impact from the economic slowdown from COVID-19.“Atlantic Capital entered the COVID-19 crisis in a position of strength with solid first quarter operating results, a fortress balance sheet, and sound business continuity plans. With that strength, our company will provide needed assistance to businesses in our community, add new client relationships,...

Consolidated first quarter sales were $73.6 million, down 15% sequentially and down 27% from Q1 2019 as the COVID-19 pandemic drove a sharp decline in oil and gas demand and well completion activityGross margin was 33%, down from 35% in Q4 2019 and 36% in Q1 2019Operating income decreased to $6.3 million from $20.5 million in Q1 2019Net income was $4.2 million, or $0.28 per diluted share; while adjusted net income* was $5.3 million, or $0.35 per diluted shareAdjusted EBITDA* of $11.3 million was down 36% sequentially and down 53% versus Q1 2019Net cash* (cash and cash equivalents less total debt) at March 31, 2020, was $2.9 million$2.3 million additional allowance recorded for doubtful accountsDividend suspended to maintain liquidity during economic and industry downturnBROOMFIELD, Colo., April 23, 2020 (GLOBE NEWSWIRE) — DMC Global...