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$PLL 3Q15 10-Q: Gross profit was up $7.33MM to $355.40MM vs. $348.07MM in 3Q14. SG&A expenses were $197.68MM. On May 12, 2015, PLL executed the Merger Agreement with Danaher pursuant to which Danaher agreed to acquire the Company for $127.20 per share in cash.
$DXPE has completed the acquisition of Application Specialties, Inc., a leading distributor of cutting tools, abrasives, coolants and machine shop supplies. DXP funded the acquisition with cash on the balance sheet. Financial terms of the transaction were not disclosed.
Maritime engineering firm $GIFI said it received a contract from the Saint Lawrence Seaway Development Corp. for construction of an 'ice class' CPP Z-drive tug. The company expects to deliver the tug, which will be used for icebreaking and ice-management services, in the spring to summer of 2019.
$MKSI made a $50MM voluntary principal prepayment on its term loan. This prepayment is in addition to the prepayments of $175MM made in the first three quarters of 2017 and reduces the outstanding term loan to $398MM as of Nov 30, 2017, down from $780MM at origination.
$GPRO now expects 4Q17 revenue to be in the range of $460-480MM, with diluted EPS expected in the range of $0.25-0.35. Adjusted EPS for 4Q17 is expected in the range of $0.37-0.47 and GM expected in the range of 41-42%. For FY17, the company expects revenue of $1.305-1.325Bil, with GAAP loss per share of between $0.65 and $0.55.
Action camera-maker $GPRO reported a 3Q17 profit, swinging away from the loss reported a year earlier, boosted by higher demand for its cameras and drones. The company swung to profit of $14.6MM or $1.10 per share from a loss of $104.1MM or $0.74 per share a year ago. Revenue spiked 37% to $330MM. On an adjusted basis, $GPRO earned $0.15 per share.
$GPRO launches Hero 6 Black at $499, available with retailers starting now. The technical specs include recording 4K videos at 60fps or up to 240fps in 1080p with most advanced stabilization. The Hero 6 also offers twice the video frame rates and better dynamic range for low light image handling, with all-new touch zoom and 3 times faster Wi-Fi.
Engineering firm $MKSI said S&P Global Ratings has raised its corporate credit rating to 'BB ' from 'BB' on improved credit metrics. Also, the issue-level rating on the company's senior secured term loan was upgraded to investment grade 'BBB-' with a stable outlook. The upgrade mainly reflects MKS Instruments' improved financial metrics.
$ESIO, provider of laser-based manufacturing solutions, has appointed Lynne Camp as a member of its BoD, effective Oct 2. She is a seasoned executive who spent over 30 years in high-tech industry and for 15 years served as VP and GM in various companies.
Camera maker $GPRO announced that it now expects 3Q17 revenue and GM to be at the high end of its previously announced respective ranges of between $290-310MM and 36-38% based on strong product demand. The company also expects 3Q17 to be profitable on a non-GAAP basis, though not profitable on a GAAP basis.
Technology firm $MKSI said it made a $75MM voluntary pre-payment on its term loan, reducing the outstanding principal amount to $448MM from $780MM at origination. Through pre-payments of loan, the company has reduced its annualized non-GAAP interest expense by over 55% in over a year.
$DXPE has closed on a new $250MM Senior Secured Term Loan B and refinanced its existing credit facility with a new $85MM Asset Based Revolving Credit Facility. The TLB and ABL Revolver mature on August 29, 2023 and August 29, 2022, respectively. $DXPE intends to use the proceeds to repay the existing revolver and Term Loan A credit facilities.
$MKSI said that Moody's Investors Service upgraded the company's Corporate Family Rating to Ba1 from Ba2 and upgraded the company's senior secured term loan to Ba1 from Ba2. The Moody's analysis cited debt repayment and ongoing operating performance improvement as $MKSI capitalizes on growing demand for its products.
On a question regarding Karma localization internationally, $GPRO said localization is flowing through all of its touch points and all of its products. Consequently, the company expects margins for its newer products to be higher than the corporate average.
In China, which is $GPRO's top 10 market and a country with fastest growing opportunities for the company, unit sell-through reported for 2Q17 was 57%. The company added that its second largest user based for the QuikApp is China, and this trend points to good consumer engagement in a large market.