ManTech International Corporation (NASDAQ:MANT) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
ManTech International Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 21.74% to $0.54 in the quarter versus EPS of $0.69 in the year-earlier quarter.
Revenue: Decreased 4.51% to $646 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ManTech International Corporation reported adjusted EPS income of $0.54 per share. By that measure, the company missed the mean analyst estimate of $0.58. It missed the average revenue estimate of $646.08 million.
Quoting Management: “As expected, we have experienced relatively minor impacts from sequestration, and our performance in the quarter was essentially on plan, driven by robust growth in our intelligence and cyber business,” said ManTech Chairman and Chief Executive Officer George J. Pedersen. “Our strong collections enabled us to build our cash position to $172 million, which we will use to grow the company.”
Key Stats (on next page)…