Greenway Medical Technologies Earnings: Here’s Why Investors are Selling Shares Now
Greenway Medical Technologies (NYSE:GWAY) 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. Shares are down 2.38%.
Greenway Medical Technologies Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.08 in the quarter versus EPS of $0.10 in the year-earlier quarter.
Revenue: Decreased 2.34% to $35.53 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Greenway Medical Technologies reported adjusted EPS loss of $0.08 per share. By that measure, the company missed the mean analyst estimate of $-0.02. It beat the average revenue estimate of $34.04 million.
Quoting Management: “Our results for the fourth quarter and full year reflect an organization that is successfully reducing its reliance on one-time sales and increasing revenue from more predictable recurring sources while introducing a platform that is gaining increased acceptance among those providers we serve,” said Tee Green, president and chief executive officer of Greenway. “We are encouraged by the continued strong growth of revenue from recurring sources of 28% during our fiscal fourth quarter, when compared to the prior year, and the substantial improvement in overall revenue mix from predictable sources.”
Key Stats (on next page)…