Deswell Industries, Inc., incorporated in the British Virgin Islands, announced its financial results for the fiscal second quarter of the year ended September 30, 2015. In the reported period, company’s net sales were US$12.4 million, an increase of 21.4 per cent compared to net sales of US$10.2 million for the same quarter of 2014. Operating loss in the second quarter of fiscal 2016 was US$1.0 million, compared to the operating loss of US$1.9 million for the same quarter of fiscal 2015. Total gross margin increased to 10.8% as compared to 6.8% in the same period of the previous year.
The BVI company announced net loss of US$2.4 million for the reported period, compared to net loss of US$1.7 million for the second quarter of fiscal 2014. Deswell reported loss per share (basic and diluted) of US$0.15 for the second quarter of fiscal 2016, compared to US$0.11 for the quarter ended September 30, 2014. At September 30, 2015, the company had US$9.1 million in cash and cash equivalents (US$19.5 million at September 30, 2014).
Talon Metals Corp. announced financial results for the three month period ended September 30, 2015. Net income of the BVI company was US$1.3 million, or US$0.01 per share (basic and diluted), as compared to the net loss of US$0.9 million, or US$0.01 per share for the same period of the previous year.
For the nine month period ended September 30, 2015, Talon Metals reported net loss of US$0.7 million, or US$0.01 per share (basic and diluted), as compared to net loss of US$1.8 million, or US$0.02 per share for the same period of 2014.
Capitalized exploration costs on the Tamarack Nickel-Copper-PGE Project for the nine months period was US$13.9 million, compared to US$5.8 million for the nine month period of 2014. Total capitalized cost on the Tamarack Nickel-Copper-Platinum Project was US$23.7 million.
BVI-registered company Luxoft Holding, Inc., providing software and innovative IT solutions globally, reported financial results for the three and six month periods ended September 30, 2015. For the three months, company’s revenue increased to US$161.5 million – that is 29.1 per cent higher than in the same period last year, when company’s revenue was US$125.1 million. US GAAP net income was US$23 million in, or US$0.67 per diluted share, as compared to US$17.6 million or US$0.54 per diluted share for the same period a year ago. Non-GAAP net income of the Luxoft Holding was US$28.6 million, or US$0.84 per diluted share, compared to US$19.0 million and US$0.58 per diluted share for the same period a year ago. Adjusted EBITDA was US$37.0 million and corresponding margins of 22.9 per cent, as compared to US$24.4 million and US19.5 per cent respectively in the year-ago quarter and US$27.2 million.
BVI company’s revenues generated in the US increased by 2.9%, the UK revenues increased by 55.4%, and Germany revenues increased 24.0%, as compared to the first six months of the previous year. Thus, the company generated approximately 7.1 per cent increase in revenue per delivery employee.
Atlas Mara Limited has published unaudited financial results for the Third Quarter, as well as for nine months ended 30 September 2015. The BVI-registered financial services group working in sub-Saharan Africa announced that its profit after tax for the nine months period was US$7.1mln, compared to a Pro Forma loss of US$38.7mln in the same period of 2014. Company’s net interest income growth was 19.1 per cent and non-interest revenue growth was 22.0 per cent.
On an adjusted operating profit basis, Atlas Mara had a profit of US$23.7mln and a cost to income ratio of 79.9 per cent. Union Bank of Nigeria Plc contributed income from associates of US$15.1mln, which is a year-over-year increase of 18.3 per cent. Loans and advances grew by 14.4 per cent; for the nine month period, asset recoveries made US$17.5mln.
Atlas Mara Limited reported equity of US$605.9mln at the end of the period, which is a US$76.5mln decrease from 31 December 2014, primarily due to foreign exchange losses caused by the strengthening of the USD.
On 1 October 2015, the BVI company completed a US$63.4mln placement of senior secured convertible notes due 2020. They were issued at an issue price of 82.7% of their principal amount, their maturity date is 31 December 2020, and they are convertible into the ordinary shares of Atlas Mara at a price of US$11.00 per share.