STEC Earnings: Everything You Must Know Now
STEC, Inc. (NASDAQ:STEC) had a loss 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.
STEC, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.41 in the quarter versus EPS of $-0.17 in the year-earlier quarter.
Revenue: Decreased 56.37% to $22 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: STEC, Inc. reported adjusted EPS loss of $0.41 per share. By that measure, the company beat the mean analyst estimate of $-0.42. It beat the average revenue estimate of $21.97 million.
Quoting Management: “Our results were in-line with the guidance that we provided for the first quarter of 2013 as we continue to work towards the objective of diversifying our market presence and expanding our customer base through our new go-to-market strategy,” said Mark Moshayedi, sTec’s CEO and President.
Key Stats (on next page)…