PAR Technology Comm Earnings: Here’s Why Shares are Up Now
PAR Technology Corporation Comm (NYSE:PAR) delivered a profit and met 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. Shares are up 4%.
PAR Technology Corporation Comm Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.08 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Rose 19.58% to $66.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: PAR Technology Corporation Comm reported adjusted EPS income of $0.08 per share. By that measure, the company met the mean analyst estimate of $0.08. It beat the average revenue estimate of $60.85 million.
Quoting Management: “Even with a known reduction of $18 million in volume from our largest customer, consolidated revenues grew 7% for the year 2012. This was despite the fact the revenue streams associated with our new ATRIO® software and newly released hardware platforms are in their infancy,” commented Paul B. Domorski, Chairman and Chief Executive Officer of PAR Technology Corporation. “Most of the charge in the quarter was non-cash and related to the reduction in the capitalized value of certain software development costs, enabling us to redirect resources to areas that will have the greatest impact on our results.”
Key Stats (on next page)…
Revenue increased 8.76% from $61.05 million in the previous quarter. EPS decreased 11.11% from $0.09 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 $0.04 and has not changed. For the current year, the average estimate has moved down from a profit of $0.31 to a profit of $0.22 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)