Zix Corp. (NASDAQ:ZIXI) 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.
Zix Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 25% to $0.03 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Rose 14.56% to $11.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Zix Corp. reported adjusted EPS income of $0.03 per share. By that measure, the company missed the mean analyst estimate of $0.04. It missed the average revenue estimate of $11.85 million.
Quoting Management: “Our solid business fundamentals continue to produce outstanding results, including new records in total orders and backlog and strong growth of new first year orders year-over-year. We are pleased with our continued success in email encryption and excited to provide updates on our new solutions. ZixDLP was delivered on time and on budget, with customer contracts signed even before the March 29 launch. Our BYOD solution is on schedule and currently in beta testing with customers. The progress on our new products combined with our steady results in email encryption position ZixCorp to achieve its goals for the full year,” said Rick Spurr, ZixCorp’s Chairman and Chief Executive Officer.
Key Stats (on next page)…