Key Developments: IMRIS Inc (IMRS.O)
2.71USD
20 May 2013
$0.02 (+0.74%)
$2.69
$2.65
$2.73
$2.65
18,450
89,848
$4.75
$2.62
Latest Key Developments (Source: Significant Developments)
IMRIS Inc Issues Q2 2013 Revenue Guidance Below Analysts' Estimates; Updates On FY 2013 Revenue Guidance To A Range Below Analysts' Estimates; Comments On H2 2013 Revenue Guidance
IMRIS Inc announced that for fiscal 2013, it expects revenues, comprised of both systems and service, are expected to be in the range of $65 million. For the second quarter of 2013 revenues are expected to be in the $9 million to $10 million range. The Company expects that the strongest quarterly revenue performance will once again occur in the second half of 2013. IMRIS Inc announced that for fiscal 2013, it expects annual revenues, comprised of both systems and service, to be in the range of $65 million to $72 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $15 million for the second quarter of 2013; revenue of $68 million for fiscal 2013. Full Article
IMRIS Inc Closes Public Offering of Common Shares
IMRIS Inc announced that it has closed its underwritten public offering of 5,750,000 common shares at a public offering price of USD3.50 per share. The gross proceeds to IMRIS, before underwriting commissions and other offering expenses, were approximately USD20.1 million. Canaccord Genuity acted as sole book-running manager for the offering and Cowen and Company, LLC acted as co-manager. IMRIS intends to use the net proceeds from this offering for working capital and general corporate purposes, including commercialization activities of new products, research and development programs and working capital needs. Full Article
IMRIS Inc Prices $20.1 Million Public Offering Of Common Shares
IMRIS Inc announced that it has priced previously announced underwritten public offering of 5,750,000 common shares at a public offering price of USD3.50 per share. The gross proceeds to IMRIS, before underwriting commissions and other offering expenses are expected to be approximately USD20.1 million. IMRIS has granted the underwriters of the offering an option to purchase up to an additional 862,500 common shares at the public offering price during the period ending 30 days from the closing of the offering to cover over-allotments, if any. Canaccord Genuity is acting as sole book-running manager for the offering and Cowen and Company, LLC is acting as co-manager. IMRIS intends to use the net proceeds from this offering for working capital and general corporate purposes, including commercialization activities of new products, research and development programs and working capital needs. The closing of the offering is expected to occur on or about March 18, 2013. Full Article
IMRIS Inc Announces Proposed Public Offering Of Common Shares
IMRIS Inc announced that it has commenced an underwritten public offering of its common shares. The offering is being conducted in the United States pursuant to the Company's effective shelf registration statement filed with the U.S. Securities and Exchange Commission (the SEC) and in Canada pursuant to a final short form base shelf prospectus filed with the securities regulatory authorities in each of the provinces and territories of Canada, other than Quebec. The number of common shares to be issued and the price of each common share will be determined at the time of pricing the proposed offering. Canaccord Genuity is acting as sole book-running manager for the proposed offering. The Company expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the number of common shares sold pursuant to the public offering solely to cover over-allotments, if any. The proposed offering is subject to customary conditions, including the approval of the Toronto Stock Exchange and The NASDAQ Stock Market, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the offering. Full Article
IMRIS Inc Issues Q1 2013 Revenue Guidance In Line With Analysts' Estimates; Issues FY 2013 Revenue Guidance Below Analysts' Estimates
IMRIS Inc announced that for fiscal 2013, it expects annual revenues, comprised of both systems and service, to be in the range of $65 million to $72 million. For the first quarter of 2013, it expects revenues to be in the $5 million to $7 million range. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of 6.7 million for the first quarter of 2013; revenue of $83 million for fiscal 2013. Full Article
IMRIS Inc Lowers FY 2012 Revenue Guidance
IMRIS Inc announced that for fiscal 2012, it expects annual revenues to be in the range of $53 million to $54 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $57 million for fiscal 2012. Full Article
IMRIS Inc Appoints Jay D. Miller As President And COO
IMRIS Inc announced the appointment of Jay Miller as President and COO, reporting directly to David Graves, Chairman & CEO, effective September 10, 2012. Full Article
IMRIS Inc Sees At Low End Of Prior FY 2012 Revenue Guidance; Issues Q3 2012 Revenue Guidance Below Analysts' Estimates
IMRIS Inc announced that for fiscal 2012, it expects revenues to be in the range of $57 million. For third quarter, it expects revenues to be in the $12-$13 million range. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $58 million for fiscal 2012; revenue of $16 million for third quarter of 2012. Full Article
Macdonald Dettwiler & Associates Ltd. And IMRIS Inc. Announce Agreement For Image Guided Surgical Robotics Program
IMRIS Inc. and MacDonald, Dettwiler and Associates Ltd. announced an agreement for the final phases of collaborative development of IMRIS's MR guided surgical robot, building on the development work the two companies have completed to date. Under the terms of the multimillion dollar agreement, MDA is IMRIS's development and preferred manufacturing partner for image-guided surgical robotics. The two companies have made significant progress in advancing the new IMRIS image guided surgical robotic system toward commercialization. Given current development plans, IMRIS anticipates being in a position to seek regulatory approval as early as the second quarter of 2012. Full Article
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