VOXX International Corporation (NASDAQ:VOXX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
VOXX International Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 6.52% to $0.43 in the quarter versus EPS of $0.46 in the year-earlier quarter.
Revenue: Rose 17.1% to $206.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: VOXX International Corporation reported adjusted EPS income of $0.43 per share. By that measure, the company beat the mean analyst estimate of $0.19. It beat the average revenue estimate of $202.79 million.
Quoting Management: Pat Lavelle, President and CEO stated, “We had one of the most successful years in our Company’s history, despite the challenges we and most companies continue to experience given the struggling global markets. While our international operations were impacted, mostly in the Eurozone, domestically, we performed ahead of expectations. The strategy we embarked on is working and we are anticipating modest improvements in Fiscal 2014 in our sales, margins, net income and EBITDA. Moving in to the following year, barring any unforeseen changes, we should be even better positioned to grow organically, drive bottom-line performance and generate meaningful returns for our shareholders. I remain very optimistic with our market positions and outlook.”
Key Stats (on next page)…
Revenue decreased 14.91% from $243.04 million in the previous quarter. EPS decreased 23.21% from $0.56 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 $0.27 to a profit $0.19. For the current year, the average estimate is a profit of $0.71, 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)