STEC, Inc. (NASDAQ:STEC) had a loss 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.
STEC, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.35 in the quarter versus EPS of $-0.02 in the year-earlier quarter.
Revenue: Decreased 39.63% to $35.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: STEC, Inc. reported adjusted EPS loss of $0.35 per share. By that measure, the company missed the mean analyst estimate of $-0.32. It missed the average revenue estimate of $37.78 million.
Quoting Management: “Although we experienced another very challenging quarter, I am very pleased with the headway that we made towards the successful implementation of our business strategy that is focused on diversifying our customer base” said Mark Moshayedi, STEC’s Chief Executive Officer and President.
Key Stats (on next page)…