Thoratec Earnings: Everything You Must Know Now
Thoratec Corp. (NASDAQ:THOR) 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.
Thoratec Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 19.61% to $0.41 in the quarter versus EPS of $0.51 in the year-earlier quarter.
Revenue: Decreased 7.13% to $117.73 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Thoratec Corp. reported adjusted EPS income of $0.41 per share. By that measure, the company missed the mean analyst estimate of $0.46. It missed the average revenue estimate of $122.9 million.
Quoting Management: “Although we faced some expected challenges in the first quarter, our team is responding well to our near-term priorities while also staying focused on key longer-term growth drivers, giving us confidence in Thoratec’s outlook for 2013 and beyond,” said Gary Burbach, President and Chief Executive Officer.
Key Stats (on next page)…
Revenue decreased 8.35% from $128.46 million in the previous quarter. EPS increased 7.89% from $0.38 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.46 to a profit $0.44. For the current year, the average estimate has moved down from a profit of $1.85 to a profit of $1.81 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)