The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Furmanite met expectations on revenues and crushed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP earnings per share expanded significantly.
Gross margins shrank, operating margins dropped, net margins grew.
Furmanite booked revenue of $81.8 million. The three analysts polled by S&P Capital IQ anticipated a top line of $82.0 million on the same basis. GAAP reported sales were 9.0% higher than the prior-year quarter's $75.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at $0.33. The three earnings estimates compiled by S&P Capital IQ averaged $0.13 per share on the same basis. GAAP EPS of $0.30 for Q4 were 200% higher than the prior-year quarter's $0.10 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 28.5%, 340 basis points worse than the prior-year quarter. Operating margin was 5.5%, 340 basis points worse than the prior-year quarter. Net margin was 13.7%, 870 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $83.2 million. On the bottom line, the average EPS estimate is $0.11.
Next year's average estimate for revenue is $349.4 million. The average EPS estimate is $0.54.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Furmanite is outperform, with an average price target of $9.00.
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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. 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