Pactera Technology Intl Ltd (ADR) (NASDAQ:PACT) 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.
Pactera Technology Intl Ltd (ADR) Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 40% to $0.12 in the quarter versus EPS of $0.20 in the year-earlier quarter.
Revenue: Rose 132.55% to $152.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.12 per share. By that measure, the company missed the mean analyst estimate of $0.12. It missed the average revenue estimate of $159.32 million.
Quoting Management: “The first quarter of 2013 was a challenging yet accomplished quarter,” said Mr. Tiak Koon Loh, Chief Executive Officer of Pactera. “We experienced weaker than expected revenues and margins mainly due to lower visibility amidst the MOE integration and related business restructuring as well as a depreciating Japanese currency. However, we are on track with business and back-office integration, and we are achieving our six-month target of cost synergies ahead of schedule.”
Key Stats (on next page)…