The Spectranetics Earnings: Here’s Why the Stock is Up Now
The Spectranetics Corporation (NASDAQ:SPNC) delivered a profit and met 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 up 1.63%.
The Spectranetics Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 25% to $0.03 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Rose 13.01% to $36.75 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Spectranetics Corporation reported adjusted EPS income of $0.03 per share. By that measure, the company missed the mean analyst estimate of $0.03. It beat the average revenue estimate of $35.47 million.
Quoting Management: “The fourth quarter of 2012 marks our fifth consecutive quarter of double digit revenue growth on a constant currency basis,” said President and Chief Executive Officer, Scott Drake. “We set the goal more than a year ago to be a reliable, profitable double digit growth company–and in 2012, we have cleared this bar. As we look forward to 2013, we have reason to be excited about our prospects–our core markets are growing in the range of 10% and we are gaining share. We are providing our outlook for 2013, which anticipates continued success. Over the long term, we are striving to drive further revenue acceleration and continued margin expansion, which will culminate in meaningful operating leverage over time.”
Key Stats (on next page)…