Investors Update: Luna Innovations Incorporated (NASDAQ: LUNA)

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On 17 April 2020, Luna Innovations Incorporated (NASDAQ: LUNA) stock observed trading -22.00% off 52-week high price. On the other end, the stock has been noted 86.41% away from low price over the last 52-weeks. The stock disclosed a move of 5.79% away from 50 day moving average and 11.76% away from 200 day moving average. Moving closer, we can see that shares have been trading 20.45% off 20-day moving average.

Luna Innovations Incorporated (LUNA) recently reported its financial results for the three months and full fiscal year ended December 31, 2019.

Highlights

  • Total revenues of $19.5M for the three months ended December 31, 2019, up 44% contrast to the three months ended December 31, 2018
  • Products and licensing revenues of $13.0M for the three months ended December 31, 2019, up 63% contrast to the three months ended December 31, 2018
  • Net income from continuing operations of $2.1M, or $0.07 per fully diluted share, for the three months ended December 31, 2019, contrast to $(0.1M), or $0.00 per fully diluted share, for the prior-year period
  • Adjusted EBITDA improved to $3.2M for the three months ended December 31, 2019, contrast to $1.6M for the three months ended December 31, 2018
  • Fiscal 2019 total revenues of $70.5M; Adjusted EBITDA over triples vs. previous year

“2019 marked an exceptional year for Luna, from both a financial and an operational perspective, and was our ninth consecutive quarter, and our second full fiscal year, of important top- and bottom-line growth,” stated Scott Graeff, President and Chief Executive Officer of Luna. “During the year, we achieved record revenue and income from continuing operations while streamlining our balance sheet through a conversion of preferred shares. We completed a $2M stock repurchase program and realigned the organization for future growth, including the appointment of Gene Nestro as CFO.”

Products and licensing revenue for the three months ended December 31, 2019 increased contrast to the previous year period Because of the inclusion of the incremental revenues associated with the purchased operations of GP, as well as increased revenues associated with Luna’s communications test and fiber optic sensing products. Technology development revenues increased for the three months ended December 31, 2019, contrast to the prior-year period Because of growth in various government research programs. The increase in operating expenses was Because of the addition of GP’s operating expenses, as well as continued incremental investment in sales and engineering to support Luna’s growth. Pre-tax income from continuing operations increased to $1.8M for the three months ended December 31, 2019, contrast to $0.6M for the previous year fiscal quarter.

Net income from continuing operations was $2.1M, or $0.07 per fully diluted share, for the three months ended December 31, 2019, contrast to a loss of $0.1M, or $0.00 per fully diluted share, for the prior-year period. The income tax benefit for the quarter and year ended December 31, 2019 includes income tax benefits of $1.1M and $3.3M, respectively, Because of the release of valuation allowances on net operating loss carry-forwards. The increase in net income from continuing operations was driven by Luna’s increased revenue and strong operating results.

The USA based company Luna Innovations Incorporated moved with change of -0.95% to $7.27 with the total traded volume of 277,878 shares in recent session versus to an average volume of 288.67K. LUNA’s shares are at -14.47% for the quarter and driving a 71.46% return over the course of the past year and is now at -0.27% since this point in 2018.  Right now, the stock beta is 1.13. There are 29.54M shares outstanding and 214.76M shares are floated in market.

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