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Recent Acquisitions, Collaborations, and Financial Results - Analyst Notes on Plug Power, Corning, Acuity Brands, TE Connectivity, and AFOP

Editor Note: For more information about this release, please scroll to bottom.

NEW YORK, April 11, 2014 /PRNewswire/ --

Today, Analysts Review released its analysts' notes regarding Plug Power Inc. (NASDAQ: PLUG), Corning Incorporated (NYSE: GLW), Acuity Brands, Inc. (NYSE: AYI), TE Connectivity Ltd. (NYSE: TEL), and Alliance Fiber Optic Products Inc. (NASDAQ: AFOP). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.AnalystsReview.com/register

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Plug Power Inc. Analyst Notes 

On April 2, 2014, Plug Power Inc. (Plug Power) announced that it has acquired the assets of ReliOn Inc. (ReliOn) for approximately $4.0 million in Plug Power common stock. The Company stated that it expects the acquisition to be accretive to its earnings in 2015. Plug Power added that including the impact of the acquisition, it continues to expect full-year 2014 EBITDAS to be positive. "One of our objectives in 2014 is to expand our fuel cell stack technology holdings to enhance our customer offerings," said Andy Marsh, President and CEO of Plug Power. "The addition of this technology from ReliOn is a giant step in that direction and gives us a very high-performance and high-reliability stack. We're looking forward to growing this business with the talented new additions to the Plug Power team." The full analyst notes on Plug Power Inc. are available to download free of charge at:

http://www.AnalystsReview.com/04112014/PLUG/report.pdf

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Corning Incorporated Analyst Notes 

On March 31, 2014, Corning Incorporated (Corning) announced a collaboration with Atmel Corporation (Atmel) to develop ultra-thin capacitive touchscreens with superior multi-touch performance for next-generation applications. According to Corning, the collaboration combines Atmel XSense flexible touch sensors with 0.4mm damage-resistant Corning Gorilla Glass, and together they deliver outstanding capacitive touch performance through thinner flat or curved cover glass. "Our collaboration with Atmel accelerates the move toward thinner cover glass and enables the use of curved touchscreens for our customers designing next-generation applications," said James Nagel, Division Vice President of Program Development of Corning Gorilla Glass at Corning Specialty Materials. "The toughness of 0.4mm and curved Gorilla Glass, coupled with the remarkable touch performance and flexibility of XSense enables the most exciting consumer experience in the market today." The full analyst notes on Corning Incorporated are available to download free of charge at:

http://www.AnalystsReview.com/04112014/GLW/report.pdf

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Acuity Brands, Inc. Analyst Notes 

On April 2, 2014, Acuity Brands, Inc. (Acuity Brands) reported financial results for Q2 FY 2014 (period ended February 28, 2014). During the quarter, the Company reported net sales of $546.2 million, up 12.2% YoY. Q2 FY 2014 net income came in at $32.7 million, or $0.75 per diluted share, compared to $24.7 million, or $0.57 per diluted share, in Q2 FY 2013. "We were very pleased with our fiscal 2014 second quarter results as we continued to execute our strategies to extend our leadership position in North America. While we believe inclement winter weather in certain parts of the U.S. dampened customer orders during the quarter and somewhat impacted our operations, the year-over-year increase in net sales reflects continued favorable trends in order rates as well as the continued adoption of LED lighting solutions, which again more than doubled over the prior year. Sales of LED-based luminaires now represent 30 percent of our net sales," said Vernon J. Nagel, Chairman, President, and CEO of Acuity Brands. The full analyst notes on Acuity Brands, Inc. are available to download free of charge at:

http://www.AnalystsReview.com/04112014/AYI/report.pdf

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TE Connectivity Ltd. Analyst Notes 

On April 2, 2014, TE Connectivity Ltd. (TE Connectivity) announced that it has signed a definitive agreement to acquire the SEACON group for $490.0 million in cash. "The acquisition of the SEACON group expands TE's position as a leader in connectivity solutions for harsh environments and significantly strengthens our position in the high-growth oil and gas industry," said Tom Lynch, Chairman and CEO of TE Connectivity. "We are excited by the addition of the SEACON group because it combines their fiber optic capability, TE's cable product line and the power connector range from our Deutsch acquisition to create a leading product offering for undersea applications. We expect to accelerate our growth with this acquisition in this very attractive sector by leveraging TE's scale and geographic breadth to support more customers around the world." The Company stated that it expects to close the acquisition in the current fiscal year and will further discuss the transaction on its next earnings call on April 23, 2014. The full analyst notes on TE Connectivity Ltd. are available to download free of charge at:

http://www.AnalystsReview.com/04112014/TEL/report.pdf

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Alliance Fiber Optic Products Inc. Analyst Notes 

On April 2, 2014, Alliance Fiber Optic Products Inc. (AFOP) reported preliminary sales for Q1 2014. During the quarter, the Company expects to report sales of approximately $24.8 million, which is above its previous guidance of $22.5 million issued on February 3, 2014; and represents a growth of 104% YoY. AFOP added that it intends to discuss the details of Q1 2014 financial results, as well as its outlook for Q2 2014, in its quarterly conference call on April 24, 2014 at 1:30 p.m. PT. The full analyst notes on Alliance Fiber Optic Products Inc. are available to download free of charge at:

http://www.AnalystsReview.com/04112014/AFOP/report.pdf

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EDITOR NOTES: 

  • This is not company news. We are an independent source and our views do not reflect the companies mentioned.
  • Information in this release is fact checked and produced on a best efforts basis and reviewed by Nidhi Vatsal, a CFA charterholder. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
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