What happened
Shares of Telos Corporation (TLS +6.22%) rose today after the company reported better-than-expected results in the company's fourth quarter.
Shares of the tech stock were up by 19.1% as of 3:18 p.m. EDT.
So what
Telos' diluted earnings per share of $0.08 easily outpaced Wall Street's consensus estimate of a loss of $0.10 per share in the quarter. Additionally, the company's revenue of $44.9 million inched past analysts' consensus estimate of $44.7 million.
Image source: Getty Images.
The company's CEO, John Wood, said in a press release that "2020 was a momentous year for the company -- we delivered strong revenue growth, continued to expand our customer relationships, and closed our public offering in November."
Investors were happy with the company's sales and earnings beats, as well as the company's first-quarter 2021 outlook.
Telos' management said that revenue for the quarter will be in the range of $49 million to $52 million, ahead of Wall Street's expectation of $43.9 million.
Now what
Telos expects more growth for the full 2021 year as well, with revenue of $289 million at the midpoint of guidance, representing about a 60% increase from 2020. With the company's strong finish to 2020 and management's upbeat guidance for 2021, it's no wonder why Telos' stock is climbing today.
