Accelrys Earnings: Here’s Why the Stock is Rising Now
Accelrys Inc. (NASDAQ:ACCL) 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 up 0.51%.
Accelrys Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 25% to $0.06 in the quarter versus EPS of $0.08 in the year-earlier quarter.
Revenue: Rose 11.31% to $43.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Accelrys Inc. reported adjusted EPS income of $0.06 per share. By that measure, the company missed the mean analyst estimate of $0.08. It missed the average revenue estimate of $45.35 million.
Quoting Management: “The first quarter results were reasonably in line with our internal targets for revenue and earnings, with the exception of the FX headwind we experienced in Japan. However, the first quarter was challenging from an orders perspective causing us to make downward revisions to our calendar 2013 outlook. We remain confident in our strategy and the associated growth opportunity it creates for our business and shareholders. We are convinced we have taken the necessary steps to overcome our execution issues in the first quarter. The fundamentals of our business remain sound and we are firmly committed to delivering on the opportunity in front of us,” said Max Carnecchia, President and CEO.
Key Stats (on next page)…