Lionbridge Technologies Inc. (NASDAQ:LIOX) 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.
Lionbridge Technologies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $0.0 in the quarter versus EPS of $0.03 in the year-earlier quarter.
Revenue: Rose 1.4% to $113.67 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lionbridge Technologies Inc. reported adjusted EPS loss of $0 per share. By that measure, the company missed the mean analyst estimate of $0.04. It missed the average revenue estimate of $116.95 million.
Quoting Management: “Lower than anticipated spend from several enterprise technology accounts in our traditional translation business drove the majority of our profit variance in the quarter. Despite our disappointing start to the year, our positive momentum in March and our current activity levels indicate strong sequential revenue and profit growth in Q2 as we scale existing client programs and continue to grow our new offerings across end markets,” said Rory Cowan, CEO, Lionbridge. “At the same time, we are also taking steps to optimize our delivery model and increase our profit levels by extending our technology automation, reducing our costs and strengthening our global operational leadership. These changes, combined with our growing pipeline of business, indicate a strengthening second half 2013 and further profit growth in 2014.”
Key Stats (on next page)…