Vocera Communications Earnings: Here’s Why Investors are Excited Now
Vocera Communications Inc (NYSE:VCRA) 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 up 1.34%.
Vocera Communications Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.07 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Decreased 3.07% to $22.41 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS loss of $0.07 per share. By that measure, the company missed the mean analyst estimate of $-0.02. It missed the average revenue estimate of $24.33 million.
Quoting Management: “We were disappointed with this quarter`s results. Although the first quarter saw a very nice increase in new customer signings, several significant expansion deals for U.S. hospitals that we expected to sign in the quarter, were not completed. We believe this shortfall was driven by two factors: (1) increased financial scrutiny from our hospital customers as a result of lower utilization and reduced reimbursement rates under reform, and (2) inconsistent sales execution across market segments. To address our sales execution issue, we are creating three new leadership positions: EVP -Worldwide Sales and Service, VP-US Healthcare Sales, and VP-International Sales. Based on these results and market dynamics, we`re reducing our full year 2013 outlook.” commented Bob Zollars, Vocera Chairman and Chief Executive Officer.
Key Stats (on next page)…