Conceptus Earnings: Here’s Why the Stock is Rising Now
Conceptus, Inc. (NASDAQ:CPTS) 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 19.61%.
Conceptus, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.05 in the quarter versus EPS of $-0.09 in the year-earlier quarter.
Revenue: Rose 17.46% to $34.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Conceptus, Inc. reported adjusted EPS income of $0.05 per share. By that measure, the company beat the mean analyst estimate of $-0.01. It beat the average revenue estimate of $32.04 million.
Quoting Management: “We are very pleased by our domestic and international financial performance in the first quarter. Domestic Essure sales growth continued to improve with 22.2% growth, of which organic growth was 17.6%, and growth attributable to sales in our former competitor’s accounts was 4.6%,” said D. Keith Grossman, President and Chief Executive Officer of Conceptus. “We continue to be encouraged by the ongoing progress we are making in commercial execution and toward improving the profitability of the company.”
Key Stats (on next page)…