The 10-second takeaway
For the quarter ended March 31 (Q1), Carbonite met expectations on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP loss per share shrank. GAAP loss per share shrank.
Margins grew across the board.
Carbonite reported revenue of $24.5 million. The seven analysts polled by S&P Capital IQ predicted net sales of $24.5 million on the same basis. GAAP reported sales were 32% higher than the prior-year quarter's $18.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.18. The seven earnings estimates compiled by S&P Capital IQ predicted -$0.18 per share. Non-GAAP EPS were -$0.18 for Q1 versus -$0.31 per share for the prior-year quarter. GAAP EPS were -$0.29 for Q1 against -$0.36 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 63.9%, 50 basis points better than the prior-year quarter. Operating margin was -29.6%, much better than the prior-year quarter. Net margin was -30.3%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $25.8 million. On the bottom line, the average EPS estimate is -$0.11.
Next year's average estimate for revenue is $105.4 million. The average EPS estimate is -$0.42.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 17 members out of 49 rating the stock outperform, and 32 members rating it underperform. Among 26 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), seven give Carbonite a green thumbs-up, and 19 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Carbonite is outperform, with an average price target of $12.75.
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