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Caribbean Global Market Update

DocuSign Net Loss Widens, VeriFone Misses Earnings Estimates

Author: Mukesh Buch
Islandjournal.net
Last Update: 12:55 PM EDT June 11 2018


12:50 PM New York City, New York DocuSign net loss widened despite revenues soared. Laboratory Corp acquired Sciformix Corporation without disclosed the financial transaction. VeriFone missed earnings estimates. Urstadt Biddle Properties net declined.

Tollbooth Index jumped 116.28 or 0.8% to 15,017.55 but for the year-to-date soared 9%.

Earnings Review

DocuSign Inc (DOCU) advanced 2.6% or $1.49 to $59.41 after the agreement, approval process services provider said total revenues in the first-quarter ending in April soared 37% from a year ago to $155.8 million.

Net loss in the quarter widened to $270.7 million or $7.46 per diluted share from $19.4 million or 66 cents in the same quarter last year.

DocuSign forecasted fiscal 2019 revenue growth in the range of $652 million to $658 million and gross margin growth between 78% and 81%.

Laboratory Corporation of America Holdings (LH) gained 1.4% or $2.52 to $189.48 after the clinical laboratory services provider said today that it had acquired Sciformix Corporation without disclosed the financial transaction.

VeriFone Systems, Inc (PAY) edged down 1 cent to $22.79 after the hardware and payment software provider reported revenues in the second-quarter ending in April declined 7.5% from a year ago to $438.4 million.

Net loss in the quarter narrowed to $17 million or 15 cents per diluted share from $89.3 million or 80 cents in the same quarter last year.

On April 9, 2018, consortium led by Francisco Partners, a private equity firm agreed to acquire Verifone for about $3.4 billion in cash, including net debt.

Uranium Energy Corp (UEC) slipped 1.2% or 2 cents to $1.70 after Canada-based uranium producer stated net loss in the third-quarter ending in April widened from a year ago to $4.1 million and diluted earnings per share were flat at 3 cents in the same period a year ago.

Urstadt Biddle Properties Inc (UBA) increased 1.9% or 43 cents to $22.28 after the real estate developer said in the second-quarter ending in April jumped 23.3% from a year ago to $37 million.

Net income in the quarter plunged 60.1% to $9.6 million or 25 cents per diluted share from $24.1 million or 64 cents in the same quarter last year.


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