Annies Earnings: Here’s Why Investors are Selling Shares Now
Annies Inc (NYSE:BNNY) 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 down 3.74%.
Annies Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 8.33% to $0.13 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Rose 13.74% to $39 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Annies Inc reported adjusted EPS income of $0.13 per share. By that measure, the company missed the mean analyst estimate of $0.14. It missed the average revenue estimate of $40.09 million.
Quoting Management: “Our products continue to perform exceptionally well in the marketplace, as we benefit from the strength of the Annie’s brand, the quality of our products, and our efforts to expand and improve distribution,” commented John Foraker, CEO of Annie’s. “Our strong retail execution is reflected in our consumption growth, which accelerated during the first quarter. While our financial results were negatively impacted by the timing of Easter deliveries and the implementation of an inventory optimization system by a large customer, we expect results for future periods to better reflect our underlying business momentum. We are encouraged by a strong start to our fiscal second quarter and remain on track to achieve our full-year financial targets.”
Key Stats (on next page)…