Park City Group Earnings: Here’s Why the Stock is Up Now
Park City Group, Inc. (AMEX:PCYG) delivered a profit 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. Shares are up 0.27%.
Park City Group, Inc. Earnings Cheat Sheet
Revenue: Rose 2155.25% to $57.96 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Park City Group, Inc. reported adjusted EPS income of $0.56 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $0.
Quoting Management: “We posted a number of financial records this quarter and made progress in achieving our strategic goals. We had wins selling additional supply chain management services to existing customers, which is a validation for the value of our end-to-end supply chain solutions. Combined with the addition and implementation of a number of the large retailers, both inside the grocery vertical, as well as in new retail verticals, we are confident that our top line will continue to accelerate in the coming quarters. The scale of these retailers, all of which are among the largest in the world, is an order of magnitude greater than most of our existing customers and should provide for accelerated growth as we move through the phases of implementation. Finally, our food and drug safety initiative with ReposiTrak, Inc. continues to gain traction and the process of onboarding customers is accelerating,” said Randall K. Fields, Park City Group’s Chairman and CEO.
Key Stats (on next page)…
Revenue increased 2038.75% from $2.71 million 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 loss of $0 and has not changed. For the current year, the average estimate is a loss of $0, 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)