Higher One Inc. (NYSE:ONE) 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 1.03%.
Higher One Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 6.25% to $0.17 in the quarter versus EPS of $0.21 in the year-earlier quarter.
Revenue: Rose 19.34% to $49.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Higher One Inc. reported adjusted EPS income of $0.17 per share. By that measure, the company beat the mean analyst estimate of $0.16. It beat the average revenue estimate of $48.84 million.
Quoting Management: Mark Volchek, Chief Executive Officer, said, “Higher One continues to be highly focused on reducing the cost of education by improving administrative efficiencies, providing financial literacy and low-cost financial services to college students, and improving graduation rates through better data collection and analysis. We made significant progress in 2012 bolstering our capabilities in all three of those areas. Despite the fact that the macro environment has put pressure on our financial results in the near-term, we are making investments in the business that positions us well for long-term growth.”
Key Stats (on next page)…