Flow International Earnings: What Investors Need to Know
Flow International Corp. (NASDAQ:FLOW) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Flow International Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.02 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Decreased 10.93% to $59 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Flow International Corp. reported adjusted EPS loss of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.01. It beat the average revenue estimate of $57.93 million.
Quoting Management: “We saw our order patterns and revenue stabilize in Q1, following the macro-economic driven pull back in Q4,” said Charley Brown, President and CEO. “We are also encouraged by early evidence of growth beyond those stable levels. The $13 million of cost reductions we announced in June are ahead of schedule, giving us confidence in our ability to achieve all of these savings, which represent more than 100% of last year’s Operating Income.”
Key Stats (on next page)…