Deutsche Bank Downgrades TCP International (TCPI) to Hold
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TCP Reports Second Quarter 2015 Financial Results
August 6, 2015 4:01 PM EDTAURORA, Ohio, Aug. 6, 2015 /PRNewswire/ -- TCP International Holdings Ltd. (NYSE: TCPI), a leading global manufacturer and distributor of energy efficient lighting technologies, today announced financial results for its second quarter ended June 30, 2015. Highlights for the second quarter include:
LED sales increasing 49% from the first quarter of 2015 and 32% compared with the second quarter of 2014. Gross margins remaining strong at 23.1%, an increase from 22.7% in the second quarter of 2014. Charges of $3.9 million for legal settlement ($0.09 per share) and $2.2 million ($0.05 per share) for severance benefits to our former CEO that... More