ICG Group Inc. (NASDAQ:ICGE) had a loss and beat Wall Street’s expectations, AND met the revenue expectation. Shares are up 1.67%.
ICG Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.02 in the quarter versus EPS of $-0.17 in the year-earlier quarter.
Revenue: Rose 8.03% to $48.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ICG Group Inc. reported adjusted EPS loss of $0.02 per share. By that measure, the company beat the mean analyst estimate of $-0.04. It met the average revenue estimate of $48.7 million.
Quoting Management: “Overall, the quarter was in line with our expectations,” said Walter Buckley, ICG’s Chief Executive Officer. “Our continued sales and marketing efforts resulted in a number of large contract signings and significant growth in customer pipelines. Based on this activity and our current outlook, we expect that revenue growth and earnings will accelerate in the second half of 2013 and enable us to achieve our 2013 guidance.”
Key Stats (on next page)…
Revenue increased 5.09% from $46.34 million in the previous quarter. EPS increased to $-0.02 in the quarter versus EPS of $-0.08 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0.05 to a profit $0.03. For the current year, the average estimate has moved up from a loss of $0.26 to a profit of $0.01 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)