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Fuel-Tech, Inc. (NASDAQ:FTEK) 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 8.95%.
Fuel-Tech, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 57.14% to $0.03 in the quarter versus EPS of $0.07 in the year-earlier quarter.
Revenue: Decreased 5% to $26.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Fuel-Tech, Inc. reported adjusted EPS income of $0.03 per share. By that measure, the company missed the mean analyst estimate of $0.05. It missed the average revenue estimate of $28.38 million.
Quoting Management: Douglas G. Bailey, Chairman, President, and Chief Executive Officer, commented, “2012 was one of the more successful years in Fuel Tech’s history, highlighted by record revenues, record bookings and year-end backlog, and expansion into new territories. We ended the year with cash, cash equivalents, and marketable securities of $24.5 million, or $1.07 per diluted share, no short-term or long-term debt, and cash flow from operations of $8.7 million. Our strong financial position allowed us to return $7.9 million to our investors through our 2012 share repurchase plan and we invested $2.9 million in new product development.”
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