Mission West Properties, Inc. Second Quarter Earnings Sneak Peek

Mission West Properties, Inc. (NASDAQ:MSW) will unveil its latest earnings on Wednesday, July 13, 2011. A fully integrated, self-administered and self-managed real estate company which acquires and manages research and development properties in the portion of the San Francisco Bay Area.

Mission West Properties, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 13 cents per share, a decline of 18.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 11 cents. For the year, analysts are projecting net income of 51 cents per share, a decline of 3.8% from last year.

Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the first quarter, the company reported profit of 15 cents per share versus a mean estimate of net income of 11 cents per share. In the fourth quarter of the last fiscal year, the company missed estimates by 2 cents.

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Wall St. Revenue Expectations: On average, analysts predict $93 million in revenue this quarter, a decline of 6.5% from the year ago quarter. Analysts are forecasting total revenue of $93 million for the year, a decline of 6.5% from last year’s revenue of $99.4 million.

Key Stats:

The company has now seen net income fall in each of the last three quarters. In first quarter, net income fell 2.4% from the year earlier, while the figure fell 9.3% in the fourth quarter of the last fiscal year and 50.5% in the third quarter of the last fiscal year.

Revenue has fallen for the past three quarters. In first quarter, revenue declined 1.2% to $27.5 million while the figure fell 4.6% in fourth quarter of the last fiscal year from the year earlier and 19.4% in the third quarter of the last fiscal year.

Competitors to Watch: Government Properties Income Trust (NYSE:GOV), Boston Properties, Inc. (NYSE:BXP), Brandywine Realty Trust (NYSE:BDN), Mack-Cali Realty Corp. (NYSE:CLI), Highwoods Properties, Inc. (NYSE:HIW), Kilroy Realty Corporation (NYSE:KRC), Liberty Property Trust (NYSE:LRY), Vornado Realty Trust (NYSE:VNO), CommonWealth REIT (NYSE:CWH), and Parkway Properties, Inc. (NYSE:PKY).

Stock Price Performance: During April 8, 2011 to July 6, 2011, the stock price has risen $2.37 (36.8%) from $6.44 on April 8, 2011 to $8.81 on July 6, 2011. The stock price saw one of its best stretches over the last year between April 14, 2011, and April 21, 2011, when shares rose for six-straight days, rising 7.4% (+48 cents) over that span. It saw one of its worst periods between October 18, 2010, and October 25, 2010, when shares fell for six-straight days, falling 2.9% (-19 cents) over that span. Shares are up $2.35 (+36.4%) year to date.

(Source: Xignite Financials)

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