Shares of Coty Inc (NYSE:COTY) ended Tuesday session in green amid volatile trading. The shares closed up +0.07 points or 0.29% at $24.09 with 20.27 million shares getting traded. Post opening the session at $23.98, the shares hit an intraday low of $23.83 and an intraday high of $24.24 and the price vacillated in this range throughout the day. The company has a market cap of $7.94 billion and the numbers of outstanding shares have been calculated to be 74.01 million shares.
Coty Inc (COTY) on August 16, 2016 announced financial results for the fourth quarter and fiscal year ended June 30, 2016.
Fiscal 2016 Summary
- Net revenues of $4,349.1 million decreased 1% as reported and like-for-like
- Reported operating income of $254.2 million decreased 36% from the prior-year, driven primarily by acquisition related costs
- Adjusted operating income of $622.9 million increased 3% from the prior-year
- Reported net income of $156.9 million decreased 33%, while adjusted net income of $485.2 million increased 19% from the prior-year
- Reported earnings per diluted share of $0.44 decreased 31%, while adjusted earnings per diluted share of $1.37 increased 21% from the prior-year
- Net cash provided by operating activities was $501.4 million compared to $526.3 million in the prior-year, despite an increase in cash acquisition-related costs of over $100 million relative to the prior year
Fourth Quarter Fiscal 2016 Summary
- Net revenues of $1,075.6 million increased 6% as reported and decreased 1% like-for-like
- Reported operating loss of $(2.9) million improved from $(23.4) million in the prior-year period
- Adjusted operating income of $94.2 million increased 19% from $79.2 million in the prior-year period
- Reported net loss of $(31.0) million declined from net income of $21.0 million, while adjusted net income of $45.7 million increased 6% from $43.1 million in the prior-year period
- Reported earnings per diluted share of $(0.09) decreased from $0.05, while adjusted earnings per share of $0.13 increased 8% from $0.12 in the prior-year period
- Net cash provided by operating activities was $56.1 million compared to $138.1 million in the prior-year period
Commenting on Coty’s performance, Bart Becht, Chairman and Interim CEO said: “Fiscal 2016 showed our continued progress in our strategy of building a healthier and better business. In support of this strategy, we are actively preparing for the transformational merger with the P&G Beauty Brands business. During the year, reported revenues were positively impacted by our completed acquisitions, in line with our strategy, but negatively impacted by foreign currency. On a like-for-like basis, we drove net revenue growth in our Power Brands, on which we put disproportionate focus, outperforming the overall business. Reported operating and net income were lowered by acquisition related costs. On an adjusted basis, we generated solid growth in profitability and margins, with strong growth in the full year EPS.
Shares of GoPro Inc (NASDAQ:GPRO) ended Tuesday session in red amid volatile trading. The shares closed down -1.05 points or –6.86% at $14.26 with 22.47 million shares getting traded. Post opening the session at $15.69, the shares hit an intraday low of $13.89 and an intraday high of $15.70 and the price vacillated in this range throughout the day. The company has a market cap of $2.03 billion and the numbers of outstanding shares have been calculated to be 102.94 million shares.
GoPro Inc (GPRO) on Sept. 19, 2016 unveiled new products and services that dramatically simplify the process of capturing, editing and sharing engaging content, establishing GoPro as an end-to-end storytelling solution.
GoPro’s founder and CEO, Nicholas Woodman, introduced a new line of HERO5 cameras, cloud-based software, and drone, Karma, to international press at the base of Squaw Valley, CA, near Lake Tahoe. The event was broadcast live and can be seen HERE.
“With these new products, we’re delivering on our promise to make it easy to capture and share engaging stories,” said Woodman. “HERO5’s ability to auto-upload photos and videos to a GoPro Plus account dramatically simplifies mobile, on-the-go editing, sharing and enjoyment. This is a game-changing experience that we will continue to build upon.”
Woodman adds, “We’re stoked to launch Karma and show how much more it is than a drone. Karma packs Hollywood-caliber aerial, handheld and gear-mounted image stabilization into a backpack for $799. It’s so easy to use, a beginner can have fun straight away.”