Catamaran Corp Earnings: Here’s Why the Stock is Falling Now
Catamaran Corporation (NASDAQ:CTRX) delivered a profit and beat Wall Street’s expectations, BUT 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 6.47%.
Catamaran Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 61.54% to $0.42 in the quarter versus EPS of $0.26 in the year-earlier quarter.
Revenue: Rose 87.51% to $3.22 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Catamaran Corporation reported adjusted EPS income of $0.42 per share. By that measure, the company beat the mean analyst estimate of $0.41. It missed the average revenue estimate of $3.53 billion.
Quoting Management: “Building on the transformative events of 2012, Catamaran had a very strong start to 2013. We continued the full scale integration of Catalyst into our operations during the quarter. In the midst of our integration, we remained focused on executing against our operating plan by delivering another successful implementation season. The Catamaran brand and our distinct product offerings continued to resonate in the market as evidenced by increased proposal requests, across every market we serve. Catamaran is off to a great start in 2013, and we expect to continue to deliver strong results for the remainder of the year and continued growth going forward,” said Mark Thierer, Chairman and CEO of Catamaran Corporation.
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