Actuate Corporation (NASDAQ:BIRT) 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.
Actuate Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 25% to $0.09 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Decreased 3.67% to $34.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Actuate Corporation reported adjusted EPS income of $0.09 per share. By that measure, the company missed the mean analyst estimate of $0.09. It missed the average revenue estimate of $35.58 million.
Quoting Management: “Continued solid double digit growth of total BIRT iHub-based business and iHub-based license business provides momentum for Actuate,” said Peter Cittadini, President and CEO of Actuate. “The growth of the iHub business was driven by projects involving BIRT developers and BIRT iHub Content Services. In addition, we are seeing solid momentum for BIRT Analytics less than a year after its acquisition. Our new sales year started with dedicated sales teams to capitalize on the growing demand from BIRT developers as well as for BIRT iHub Content Services and BIRT Analytics.”
Key Stats (on next page)…
Revenue decreased 0.06% from $34.92 million in the previous quarter. EPS increased 12.5% from $0.08 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.09 and has not changed. For the current year, the average estimate is a profit of $0.38, which is the same with that ninety days ago.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)