The 10-second takeaway
For the quarter ended March 31 (Q1), Rubicon Technology beat slightly on revenue and met expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly and GAAP earnings per share shrank to a loss.
Margins dropped across the board.
Rubicon Technology notched revenue of $10.2 million. The eight analysts polled by S&P Capital IQ anticipated revenue of $10.0 million on the same basis. GAAP reported sales were 73% lower than the prior-year quarter's $38.0 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 -$0.15. The two earnings estimates compiled by S&P Capital IQ predicted -$0.15 per share. GAAP EPS were -$0.15 for Q1 compared to $0.80 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 -33.4%, 9,650 basis points worse than the prior-year quarter. Operating margin was -65.1%, 11,840 basis points worse than the prior-year quarter. Net margin was -33.0%, 8,330 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $16.2 million. On the bottom line, the average EPS estimate is -$0.11.
Next year's average estimate for revenue is $86.6 million. The average EPS estimate is -$0.04.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 160 members out of 194 rating the stock outperform, and 34 members rating it underperform. Among 39 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 28 give Rubicon Technology a green thumbs-up, and 11 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Rubicon Technology is hold, with an average price target of $12.05.
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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.