Plexus Earnings: Here’s Why Shares are Up Now

Plexus Corp. (NASDAQ:PLXS) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.47%.

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Plexus Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 7.14% to $0.52 in the quarter versus EPS of $0.56 in the year-earlier quarter.

Revenue: Decreased 2.87% to $557 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Plexus Corp. reported adjusted EPS income of $0.52 per share. By that measure, the company met the mean analyst estimate of $0.52. It missed the average revenue estimate of $567.6 million.

Quoting Management: Dean Foate, Chairman, President and CEO, commented, “Fiscal second quarter revenues were up 5% sequentially to $558 million, with diluted EPS of $0.52. Revenue performance in our Networking/Communications sector was meaningfully below our expectations as several customers struggled with end-market demand. While we experienced forecast volatility in other sectors, the end results for the quarter were relatively in line with our guidance. The previously disclosed disengagement of Juniper Networks remains on track, with production expected to cease as of the end of our fiscal third quarter of 2013.”

Key Stats (on next page)…

Revenue increased 4.99% from $530.53 million in the previous quarter. EPS increased 10.64% from $0.47 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.53 to a profit $0.59. For the current year, the average estimate has moved up from a profit of $2.01 to a profit of $2.10 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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