Polypore International Inc. (NYSE:PPO) reported net income above Wall Street’s expectations for the most recent quarter. Polypore International is a global technology filtration company that develops, manufactures, and markets specialized microporous membranes used in separation and filtration processes.
Investing Insights: Warren Buffett Trashes Gold, But What About Silver?
Polypore International Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for the industrial equipment and components company rose to $26.4 million (56 cents per share) vs. $17.7 million (38 cents per share) in the same quarter a year earlier. This marks a rise of 49% from the year-earlier quarter.
Revenue: Rose 12.7% to $191 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Polypore International Inc. reported adjusted net income of 58 cents per share. By that measure, the company beat the mean estimate of 52 cents per share. It fell short of the average revenue estimate of $196.4 million.
Quoting Management: Robert B. Toth, President and Chief Executive Officer, said: “We experienced another year of solid growth and our substantial capacity investments will continue to ramp up throughout 2012 and into 2013. Given the strong long-term outlook in our businesses, we continue to fund the most significant growth investments in our company’s history.”
The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 21.6%, with the biggest boost coming in the second quarter when revenue rose 30.8% from the year earlier quarter.
The company topped expectations last quarter after falling short of forecasts in the third quarter with net income of 50 cents versus a mean estimate of net income of 53 cents per share.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved down from 59 cents a share to 57 cents over the last sixty days. The average estimate for the fiscal year is $2.19 per share, down from $2.23 ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
Don’t Miss These Additional Hot Stories:
To contact the reporter on this story: Derek Hoffman at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com