Measurement Specialties Inc. (NASDAQ:MEAS) delivered a profit and beat Wall Street’s expectations, AND met the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Measurement Specialties Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 1.85% to $0.53 in the quarter versus EPS of $0.54 in the year-earlier quarter.
Revenue: Rose 2.96% to $89 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Measurement Specialties Inc. reported adjusted EPS income of $0.53 per share. By that measure, the company beat the mean analyst estimate of $0.48. It met the average revenue estimate of $89 million.
Quoting Management: Frank Guidone, Company CEO commented, “We had a solid finish to another challenging year. We began fiscal 2013 with a strong first half, but similar to fiscal 2012, weak macro conditions created a situation where many customers cut their outlook resulting in inventory contraction in the supply chain and soft sales in our second half. Global demand increased in the fourth quarter as evidenced by our strong bookings and solid book-to-bill which gave us some recovery in sales; however, not back to first half levels. With strong 4th quarter bookings, momentum on development programs and contribution from both the RTD and Spectrum acquisitions, we believe we are well positioned to deliver against our adjusted sales guidance of $400 to $405 million for fiscal 2014 and target Adjusted EBITDA margin of 20%+. Increasing our first quarter sales guidance for the Spectrum acquisition yields a target of $98 million. While we remain cautious given the tepid macro-economic environment, we are confident in our long term growth strategy and ability to drive shareholder value.”
Key Stats (on next page)…
Revenue increased 9.03% from $81.63 million in the previous quarter. EPS increased 39.47% from $0.38 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 profit of $0.49 to a profit $0.56. For the current year, the average estimate is a profit of $1.91, 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)