QLT Earnings: Here’s Why Shares are Down Now

QLT Inc. (NASDAQ:QLTI) had a loss and beat Wall Street’s expectations, AND met the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.74%.

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QLT Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.13 in the quarter versus EPS of $-0.21 in the year-earlier quarter.

Revenue: Decreased 100% to $0 from the year-earlier quarter.

Actual vs. Wall St. Expectations: QLT Inc. reported adjusted EPS loss of $0.13 per share. By that measure, the company beat the mean analyst estimate of $-0.14. It met the average revenue estimate of $0.

Quoting Management: “QLT’s Board of Directors is very pleased that every metric of the Company’s Q1 2013 performance improved versus the first quarter of 2012. QLT’s net loss was significantly reduced, despite our having sold Visudyne in Q3 2012, and thus not booking any Visudyne revenues or income during Q1 2013, and also inclusive of a one-time restructuring charge. Our loss per share was significantly reduced despite the aforementioned and our having completed QLT’s normal course issuer bidshare repurchase program, thus reducing QLT’s share count, within approximately six-months, half the time allotted by the TSX rules. The Board of Directors and QLT’s dedicated employees sincerely appreciate our shareholders’ continued support of our efforts,” said Jason M. Aryeh, Chairman of QLT’s Board of Directors.

Key Stats (on next page)…

Revenue decreased 0% from $0 in the previous quarter. EPS decreased to $-0.13 in the quarter versus EPS of $-0.11 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 loss of $0.14 to a loss $0.11. For the current year, the average estimate has moved up from a loss of $0.68 to a loss of $0.59 over the last ninety days.

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