Techne Earnings: Here’s Why Shares are Down Now
Techne Corp. (NASDAQ:TECH) delivered a profit and missed 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 down 1.36%.
Techne Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 2.5% to $0.82 in the quarter versus EPS of $0.80 in the year-earlier quarter.
Revenue: Rose 1.04% to $79.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Techne Corp. reported adjusted EPS income of $0.82 per share. By that measure, the company missed the mean analyst estimate of $0.83. It missed the average revenue estimate of $79.71 million.
Key Stats (on next page)…
Revenue decreased 1.84% from $80.99 million in the previous quarter. EPS decreased 6.82% from $0.88 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 $0.78 and has not changed. For the current year, the average estimate is a profit of $3.19, 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)