Diamond Foods Earnings: Here’s Why Investors are Happy Now
Diamond Foods, Inc. (NASDAQ:DMND) 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 1.91%.
Diamond Foods, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 80% to $0.09 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Decreased 10.8% to $199.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Diamond Foods, Inc. reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $-0.03. It beat the average revenue estimate of $192.53 million.
Quoting Management: “Our cost savings and net price realization strategies helped us generate improved results for the fourth quarter and fiscal year,” said Brian Driscoll, President and CEO. “We remain intently focused on these productivity initiatives to help support our future brand innovation and to address potential commodity headwinds in fiscal 2014. In addition, we believe the proposed settlement of the securities class action lawsuit is an important first step in our ability to normalize our capital structure.”
Key Stats (on next page)…