Premiere Global Services, Inc. (NYSE:PGI) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Premiere Global Services, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 5.56% to $0.19 in the quarter versus EPS of $0.18 in the year-earlier quarter.
Revenue: Rose 2.29% to $129.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Premiere Global Services, Inc. reported adjusted EPS income of $0.19 per share. By that measure, the company beat the mean analyst estimate of $0.18. It missed the average revenue estimate of $130.41 million.
Quoting Management: “We are pleased with our first quarter performance, as we continued to execute our strategy for growth,” said Boland T. Jones, PGi founder, chairman and CEO. “This year, we remain focused on continuing to enhance and expand our suite of PGi collaboration software products, while at the same time driving new distribution and growth opportunities for our award-winning products, iMeet® and GlobalMeet®. We remain optimistic in our outlook for 2013 and beyond.”
Key Stats (on next page)…
Revenue increased 2.97% from $125.77 million in the previous quarter. EPS increased 5.56% from $0.18 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 $0.21 and has not changed. For the current year, the average estimate is a profit of $0.83, 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)