Senomyx Earnings: Here’s Why Investors Like These Results
Senomyx Inc. (NASDAQ:SNMX) had a loss 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. Shares are up 4.17%.
Senomyx Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.05 in the quarter versus EPS of $-0.08 in the year-earlier quarter.
Revenue: Rose 12.08% to $7.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Senomyx Inc. reported adjusted EPS loss of $0.05 per share. By that measure, the company beat the mean analyst estimate of $-0.06. It missed the average revenue estimate of $7.75 million.
Quoting Management: “Senomyx is continuing to advance the implementation of our new direct sales strategy,” stated Kent Snyder, Chief Executive Officer of the Company. “Our primary goal for the second quarter – to complete the hiring of key personnel for the initial commercial organization – has been achieved. We are very pleased to have new regional sales account managers who have strong track records in the flavor ingredients and packaged foods industries. In addition, Ken Simone, who has nearly 30 years of global supply chain, manufacturing, quality and product application experience, has joined Senomyx in the newly created position of Vice President, Supply Chain.”
Key Stats (on next page)…
Revenue increased 2.94% from $7.48 million in the previous quarter. EPS increased to $-0.05 in the quarter versus EPS of $-0.07 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 loss of $0.05 and has not changed. For the current year, the average estimate is a loss of $0.24, 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)