STEC Earnings: Here’s Why the Stock is Down Now
STEC, Inc. (NASDAQ:STEC) had a loss 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 0.05%.
STEC, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.43 in the quarter versus EPS of $-0.27 in the year-earlier quarter.
Revenue: Decreased 42.4% to $23.45 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: STEC, Inc. reported adjusted EPS loss of $0.43 per share. By that measure, the company missed the mean analyst estimate of $-0.42. It missed the average revenue estimate of $24.28 million.
Key Stats (on next page)…