Pactera Technology (NASDAQ:PACT) 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.
Pactera Technology Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 36.36% to $0.14 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 127.25% to $163.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Pactera Technology reported adjusted EPS income of $0.14 per share. By that measure, the company missed the mean analyst estimate of $0.15. It missed the average revenue estimate of $164.11 million.
Quoting Management: “The second quarter of 2013 was a challenging but improving quarter for Pactera,” said Mr. Tiak Koon Loh, Chief Executive Officer of Pactera. “Our topline momentum was impacted by continued headwinds from our major telecom customer, the adverse effect of Japanese currency depreciation, and some client specific business challenges. However, both gross margin and operating efficiency improved towards our targeted direction. The MOE integration remains on track and we expect our business to resume a more stable growth trajectory in the coming quarters.”
Key Stats (on next page)…