Perficient Earnings: Here’s Why Investors are Happy Now

Perficient Inc. (NASDAQ:PRFT) 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 6.67%.

Perficient Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 16.67% to $0.28 in the quarter versus EPS of $0.24 in the year-earlier quarter.

Revenue: Rose 15.16% to $94.2 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Perficient Inc. reported adjusted EPS income of $0.28 per share. By that measure, the company beat the mean analyst estimate of $0.25. It beat the average revenue estimate of $92.81 million.

Quoting Management: “Perficient is executing well on key performance metrics as we head into the second half of 2013,” said Jeffrey Davis, chief executive officer and president. “The world’s leading enterprises are increasingly recognizing our unique capacity to deliver a wide array of business-driven technology solutions by combining industry expertise with deep technical skills across multiple platforms.”
“Average bill rates reached an all-time high in the second quarter,” said Paul Martin, chief financial officer. “Opportunity remains to continue to gradually improve rates and manage utilization to drive services margins higher and realize increasing profitability.”

Key Stats (on next page)…

Revenue increased 10.9% from $84.94 million in the previous quarter. EPS increased 27.27% from $0.22 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 $0.29 and has not changed. 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)