Government Properties Income Trust (NYSE:GOV) delivered a profit and met 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. Shares are up 0.35%.
Government Properties Income Trust Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 5.36% to $0.53 in the quarter versus EPS of $0.56 in the year-earlier quarter.
Revenue: Rose 7.73% to $56.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Government Properties Income Trust reported adjusted EPS income of $0.53 per share. By that measure, the company missed the mean analyst estimate of $0.53. It missed the average revenue estimate of $56.34 million.
Quoting Management: “Our fourth quarter results reflect continued stable demand with somewhat improved LME aluminum prices. though our 2012 results were negatively affected by LME prices that, in real terms, reached points that were among historical lows, we experienced throughout the year stable, solid demand in combination with attractive Midwest and fabrication premiums for our key aluminum products. During the second half of 2012, we worked through operational challenges, particularly in our Upstream business that also negatively impacted our results. We are pleased that all Upstream plants are currently producing at expected levels.”
Key Stats (on next page)…