The 10-second takeaway
For the quarter ended April 1 (Q1), Interface met expectations on revenue and met expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share shrank to a loss.
Margins shrank across the board.
Interface tallied revenue of $232.8 million. The seven analysts polled by S&P Capital IQ predicted sales of $232.6 million on the same basis. GAAP reported sales were 5.2% lower than the prior-year quarter's $245.4 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 $0.10. The seven earnings estimates compiled by S&P Capital IQ forecast $0.10 per share on the same basis. GAAP EPS were -$0.09 for Q1 against $0.15 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 32.7%, 270 basis points worse than the prior-year quarter. Operating margin was 7.2%, 160 basis points worse than the prior-year quarter. Net margin was -2.5%, 650 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $262.4 million. On the bottom line, the average EPS estimate is $0.17.
Next year's average estimate for revenue is $1.07 billion. The average EPS estimate is $0.72.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Interface is outperform, with an average price target of $16.00.
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