TeleCommunication Systems Earnings: Here’s Why Investors are Buying Shares Now
TeleCommunication Systems Inc. (NASDAQ:TSYS) delivered a profit and met 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 up 8.63%.
TeleCommunication Systems Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 33.33% to $0.04 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Decreased 5.24% to $94.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: TeleCommunication Systems Inc. reported adjusted EPS income of $0.04 per share. By that measure, the company missed the mean analyst estimate of $0.04. It missed the average revenue estimate of $102.07 million.
Quoting Management: “Our first quarter results were consistent with our expectations, as we worked to set the stage for another strong second half,” said Maurice B. Tose, TCS chairman and CEO. “We are executing on our strategy of using TCS expertise in secure digital wireless network technology to address the growing worldwide need for trustworthy communications.”
Key Stats (on next page)…