Orca Exploration Group, Inc. announced preliminary financial results for the second quarter of 2015. For this period ended June 30, 2015, company’s revenues were CAD15.44mln, net earnings were CAD4.38mln, and earnings per share (EPS) were CAD0.12. Year-on-year decline in earnings was primarily related to narrowing of gross margins from 75.04% to 69.82%, as compared to the second quarter of the previous year. Operating margins were 71.58%, from 72.64%. Weakening of operating margins also influenced the change in earnings.
Orca Exploration reported year-on-year change in operating cash flow of -144.69%. Company’s change in revenue this quarter was -25.80%, as compared to the same quarter of 2014, ad is almost the same as the change in earnings. To compare with the previous quarter of 2015, revenues changed by 27.97%, and earnings changed by 310.70%.
On March 11, Digicel Limited announced that it closed a corporate bond offering of US$335 million, priced at a coupon of 12%. J.P. Morgan and Credit Suisse were joint book-runners on the deal.
The proceeds of this offering will be used to acquire a 35.8% stake in Digicel Holdings (Central America) Limited (DHCAL), which currently owns mobile phone operations in Panama and Honduras launched in November-December 2008. Digicel Limited will pay US$215 million for the stake in DHCAL, and from the rest proceeds will provide funding for general corporate purposes. The balance of the money raised in the transaction and not used for the acquisition will remain in Digicel Limited for general corporate purposes.
Since 2001, Digicel has become the largest wireless telecoms operator in the Caribbean; with more than 7 mln customers, it has become the leading brand in the region, and now it is entering the Central American market.