American Science & Engineering Earnings: Here’s Why Investors are Happy Now
American Science & Engineering Inc. (NASDAQ:ASEI) 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 0.32%.
American Science & Engineering Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 3.95% to $0.73 in the quarter versus EPS of $0.84 in the year-earlier quarter.
Revenue: Decreased 12.28% to $50.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: American Science & Engineering Inc. reported adjusted EPS income of $0.73 per share. By that measure, the company beat the mean analyst estimate of $0.58. It beat the average revenue estimate of $47.79 million.
Quoting Management: “Global economic uncertainties continue to impact spending in our sector — affecting us and our competitors with lower business volumes for products,” commented Anthony Fabiano, AS&E’s President and Chief Executive Officer. “During fiscal 2013, in light of these uncertainties, we initiated a number of cost-saving measures realigning our organization structures, streamlining business processes, and scrutinizing our operating expenses and were successful in reducing overall costs. As we prepare for fiscal 2014, we will be implementing further cost-cutting measures, including a reduction in workforce, focused on right-sizing our organization to address this continuing uncertain demand.”
Key Stats (on next page)…