- Revenue of $425.2 million, in line with guidance
- 36.9% gross margin and $0.07 earnings per share, above the midpoint of guidance
- $150.4 million in realized annualized synergies, remaining ahead of our plan
- $182.5 million common stock repurchase, part of a $450 million repurchase program
- Dividend payment of $36.6 million ($0.11 per share, equal to a 5.0% annualized yield as of April 1, 2016)
Fellow shareholders:
Our revenue and earnings for the quarter are given below, compared with those of the prior quarter:
(In thousands, except per-share data)
|
|
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NON-GAAP |
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GAAP |
| ||||
|
|
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Q1 2016 |
|
Q4 2015 |
|
Q1 2016 |
|
Q4 2015 |
|
|
Revenue |
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$425,214 |
|
$456,378 |
|
$418,964 |
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$450,128 |
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|
|
|
|
|
|
|
|
|
|
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Gross margin |
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36.9% |
|
39.8% |
|
30.0% |
|
31.8% |
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|
|
|
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|
|
|
|
|
|
|
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Pretax margin |
|
6.2% |
|
10.6% |
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(24.0%) |
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(12.7%) |
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|
|
|
|
|
|
|
|
|
|
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Net income (loss) |
|
$22,985 |
|
$45,528 |
|
$(104,022) |
|
$(72,330) |
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|
|
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|
|
|
|
|
|
|
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Diluted EPS (loss) |
|
$0.07 |
|
$0.13 |
|
$(0.32) |
|
$(0.22) |
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