Alere Earnings: Here’s Why Investors are Buying Shares Now
Alere Inc. (NYSE:ALR) 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. Shares are up 13.48%.
Alere Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 33.33% to $0.64 in the quarter versus EPS of $0.48 in the year-earlier quarter.
Revenue: Rose 9.06% to $764 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Alere Inc. reported adjusted EPS income of $0.64 per share. By that measure, the company beat the mean analyst estimate of $0.48. It beat the average revenue estimate of $720.24 million.
Quoting Management: Ron Zwanziger, Chairman, Chief Executive Officer and President of Alere said, “We are pleased to report a very strong quarter for Alere and continued progress against the three-point strategic plan that we implemented in November 2012. In particular, our currency adjusted organic growth rate for our professional diagnostics segment, excluding changes in our U.S. Triage and influenza revenues, was 8.6%, reflecting the strength of our highly-differentiated portfolio across the globe. In addition, our combined adjusted research and development and selling, general and administrative expenses decreased as a percentage of revenue by 230 basis points from the prior year quarter. Our growth rate in the quarter, coupled with disciplined expense control, demonstrates our continued momentum and commitment to enhancing value for our shareholders.”
Key Stats (on next page)…