Headwaters Inc. (NYSE:HW) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.65%.
Headwaters Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.14 in the quarter versus EPS of $-0.30 in the year-earlier quarter.
Revenue: Rose 8.77% to $141 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Headwaters Inc. reported adjusted EPS loss of $0.14 per share. By that measure, the company missed the mean analyst estimate of $-0.11. It beat the average revenue estimate of $137.26 million.
Quoting Management: “We experienced colder winter weather in 2013 compared to 2012, particularly in the upper Midwest and Northeast. In spite of more normal winter weather patterns, both of our operating segments generated organic top line growth in the quarter,” said Kirk A. Benson, Chairman and Chief Executive Officer of Headwaters. “Additional revenue growth was generated from our acquisition of Kleer, which performed as expected during the quarter. We are pleased with the opportunity presented by the acquisition and look forward to further top line growth through broader distribution of trimboard. Integration of Kleer is proceeding as planned and many of the expected synergies will be in place in the June quarter.”
Key Stats (on next page)…