STR Holdings Earnings: Here’s Why Investors are Not Happy Now
STR Holdings, Inc. (NYSE:STRI) 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 0.92%.
STR Holdings, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.09 in the quarter versus EPS of $-0.05 in the year-earlier quarter.
Revenue: Decreased 55.94% to $16.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: STR Holdings, Inc. reported adjusted EPS loss of $0.09 per share. By that measure, the company missed the mean analyst estimate of $-0.07. It beat the average revenue estimate of $15.14 million.
Quoting Management: “In the fourth quarter of 2012, solar industry dynamics remained very challenging, particularly in Western markets, and our sequential volume reflects this,” said Robert S. Yorgensen, STR’s President and Chief Executive Officer. “We continue to execute our strategic objectives of reducing our cost structure and developing and commercializing innovative products. The launch of our next-generation encapsulant is progressing well with many prospects proceeding to certification and we have received commercial orders for this product from two new customers in China and one of our existing customers in Europe.”
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