Perficient Inc. (NASDAQ:PRFT) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Perficient Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 10% to $0.22 in the quarter versus EPS of $0.20 in the year-earlier quarter.
Revenue: Rose 13.65% to $84.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Perficient Inc. reported adjusted EPS income of $0.22 per share. By that measure, the company missed the mean analyst estimate of $0.23. It beat the average revenue estimate of $83.01 million.
Quoting Management: “Perficient’s first quarter results have laid the foundation for another year of solid growth,” said Jeffrey Davis, chief executive officer and president. “The strongest quarterly bookings in our history, coupled with the recent acquisition of TriTek Solutions, Inc., have us very well-positioned for a solid second quarter and accelerated revenue and earnings success in the second half of 2013.”
Key Stats (on next page)…
Revenue increased 2.13% from $83.13 million in the previous quarter. EPS decreased 4.35% from $0.23 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.28 to a profit $0.27. For the current year, the average estimate has moved down from a profit of $1.04 to a profit of $1.03 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)