Given Imaging Earnings: Here’s Why Investors are Buying Shares Now
Given Imaging Ltd. (NASDAQ:GIVN) 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 1.58%.
Given Imaging Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 100% to $0.22 in the quarter versus EPS of $0.11 in the year-earlier quarter.
Revenue: Rose 11.21% to $49.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Given Imaging Ltd. reported adjusted EPS income of $0.22 per share. By that measure, the company beat the mean analyst estimate of $0.18. It beat the average revenue estimate of $48.23 million.
Quoting Management: “We are pleased to report that we achieved an eleven percent increase in second quarter revenue, reflecting solid performance in all of our operating regions, accompanied by a solid increase in operating margins and strong operating cash flow,” said Homi Shamir, president and CEO, Given Imaging Ltd. “Looking ahead, we expect the recent and significant regulatory milestone — the clearance of PillCam COLON in Japan, as well as the pending FDA decisions regarding PillCam SB3 and PillCam COLON — to enable us to accelerate growth in 2014 and beyond.”
Key Stats (on next page)…