Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Camelot Information Systems
So what: This morning, the company reported revenue that jumped 51.7% from last year to $53.6 million, and net income increased 48.3% to $5.1 million in the quarter. Revenue beat expectations by $3.2 million, and earnings per share were in line with estimates.
Now what: Guidance is really what got someone excited when the company said it expects earnings of $0.20 per share next quarter, a penny above estimates. That gave volume and shares a spike early in trading although the frenzy died off pretty quickly. Everything was slightly better than expected, but the 16% pop was probably a bit overdone; shares are now up a more reasonable 5% for the day.
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