Odyssey Marine Exploration Beats on the Top Line

Odyssey Marine Exploration (Nasdaq: OMEX  ) reported earnings on March 12. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Odyssey Marine Exploration crushed expectations on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue increased significantly. GAAP loss per share dropped.

Margins expanded across the board.

Revenue details
Odyssey Marine Exploration recorded revenue of $7.9 million. The one analyst polled by S&P Capital IQ looked for revenue of $3.0 million on the same basis. GAAP reported sales were much higher than the prior-year quarter's $.9 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 -$0.01. The one earnings estimate compiled by S&P Capital IQ predicted $0.02 per share. GAAP EPS were -$0.01 for Q4 against -$0.06 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 20.4%, much better than the prior-year quarter. Operating margin was -14.7%, much better than the prior-year quarter. Net margin was -11.5%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 151 members out of 200 rating the stock outperform, and 49 members rating it underperform. Among 48 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 27 give Odyssey Marine Exploration a green thumbs-up, and 21 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Odyssey Marine Exploration is buy, with an average price target of $6.00.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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  • Report this Comment On March 15, 2013, at 8:50 PM, tincupinhand wrote:

    The auto analysis of this business model is deceitfully irresponsible for posting on the Fool.

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