Pactera Tech Earnings: Here’s Why Investors Don’t Like These Results
Pactera Technology Intl Ltd (NASDAQ:PACT) 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 down 1.30%.
Pactera Technology Intl Ltd Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.35% to $0.24 in the quarter versus EPS of $0.23 in the year-earlier quarter.
Revenue: Rose 118.97% to $142.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.24 per share. By that measure, the company beat the mean analyst estimate of $0.23. It beat the average revenue estimate of $136.51 million.
Quoting Management: “We are pleased with our results for the fourth quarter and full year 2012. During the quarter, we successfully achieved our revenue target while also making solid progress with our operational integration and business reorganization,” said Mr. Tiak Koon Loh, Chief Executive Officer of Pactera. “Pro forma net revenues in 2012 were up 34.1% year over year. Our BFSI business continued its strong growth momentum with a 62.7% year-over-year increase in pro forma net revenues, positioning us to become the leading IT service provider in this vertical in China. Demand in Greater China remains robust, reflected by our 49.7% growth in pro forma net revenues in the region during 2012. Looking forward to 2013, we will remain focused on completing our integration efforts to fully realize the targeted synergies. We will continue to deliver value to our clients and grow our business in a profitable and sustainable manner,” added Mr. Loh.
Key Stats (on next page)…