Annie’s (NYSE:BNNY) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.03%.
Annie’s Earnings Cheat Sheet
Results: Adjusted Earnings Per Share came in at $0.15.
Revenue: Increased to $37.85 million from $31 million in the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.15 per share. By that measure, the company beat the mean analyst estimate of $0.14. It beat the average revenue estimate of $36.6 million.
Quoting Management: “We again delivered overall strong financial results and continue to make important investments to support and drive future growth,” commented John Foraker, CEO of Annie’s. “Consumption trends remain robust and the outlook for natural and organic foods remains strong. Our key growth strategies around mainline aisle placement, securing deeper distribution, increasing brand awareness and driving innovation continue to deliver strong results. Our organization responded well during our recent voluntary product recall of frozen pizza products, and we are moving aggressively to regain momentum in this important growth initiative. Overall, we executed well during the quarter and are looking forward to continued improvements and further growth in the fourth quarter and throughout our next fiscal year, fiscal 2014. We are excited about the opportunities ahead.”
Key Stats (on next page)…