CapLease
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), CapLease met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped, and GAAP earnings per share grew. The profit was a surprise, as analysts had predicted a loss.
Gross margins dropped, operating margins dropped, and net margins grew.
Revenue details
CapLease booked revenue of $39 million. The four analysts polled by S&P Capital IQ predicted sales of $38.9 million on the same basis. GAAP reported sales were 6.6% lower than the prior-year quarter's $41.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.22. The two earnings estimates compiled by S&P Capital IQ predicted -$0.03 per share. GAAP EPS were $0.22 for Q4 against -$0.18 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 82.2%, 290 basis points worse than the prior-year quarter. Operating margin was 43.2%, 460 basis points worse than the prior-year quarter. Net margin was 41.2%, 6,230 basis points better than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $41.5 million. On the bottom line, the average EPS estimate is -$0.03.
Next year's average estimate for revenue is $169.1 million. The average EPS estimate is -$0.12.
Investor sentiment
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CapLease is outperform, with an average price target of $5.45.
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