GenMark Diagnostics, Inc. (NASDAQ:GNMK) had a loss 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.
GenMark Diagnostics, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.13 in the quarter versus EPS of $-0.28 in the year-earlier quarter.
Revenue: Rose 413.89% to $11.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: GenMark Diagnostics, Inc. reported adjusted EPS loss of $0.13 per share. By that measure, the company beat the mean analyst estimate of $-0.17. It beat the average revenue estimate of $9.53 million.
Quoting Management: “We significantly grew our reagents business in the first quarter by adding new customers, increasing the number of net new analyzers, as well as expanding menu utilization and revenue with existing customers,” stated GenMark’s President & CEO Hany Massarany. “Furthermore, we’ve made excellent progress toward the development of our NexGen system and now plan to complete it in Q2, 2014.”
Key Stats (on next page)…
Revenue increased 17.58% from $9.44 million in the previous quarter. EPS were the same at $-0.13 in the quarter as EPS of $-0.13 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.13 to a loss $0.21. For the current year, the average estimate is a loss of $0.80, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)