Materion Corporation (NYSE:MTRN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.25%.
Materion Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 925% to $0.41 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Decreased 9.17% to $303.76 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Materion Corporation reported adjusted EPS income of $0.41 per share. By that measure, the company beat the mean analyst estimate of $0.27. It beat the average revenue estimate of $288.55 million.
Quoting Management: Richard J. Hipple, Chairman, President and CEO, stated, “While I am disappointed with the beryllium plant start-up problems experienced throughout the first three quarters of 2012 and the physical inventory adjustment in the fourth quarter, we have taken appropriate corrective actions. Although I remain cautiously optimistic regarding the overall global economy, we are experiencing a lift in business across most of our key markets. We implemented several strategic actions in 2012, including the closing and consolidation of several small manufacturing facilities, improving our pricing and purchasing practices, and launching a number of new product and technology initiatives, all of which we believe will enhance both the short- and long-term growth and profitability of Materion.”
Key Stats (on next page)…