Symmetricom Inc. (NASDAQ:SYMM) 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.
Symmetricom Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 41.67% to $0.07 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Decreased 16.79% to $52.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Symmetricom Inc. reported adjusted EPS income of $0.07 per share. By that measure, the company beat the mean analyst estimate of $0.04. It beat the average revenue estimate of $51 million.
Quoting Management: “Symmetricom is a great company with best-in-class technology and products, a blue-chip customer base and talented employees,” said Liz Fetter, recently appointed chief executive officer of Symmetricom. “My focus is to drive the business to sustainable and profitable growth. We took significant action in June to restructure the Company which we believe will position us to deliver higher profitability in fiscal 2014. We are intensely focused on the execution of our business plan and the key initiatives for enhancing our competitive position and driving growth.”
Key Stats (on next page)…