The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Perficient beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share increased significantly.
Gross margins dropped, operating margins shrank, net margins grew.
Perficient booked revenue of $87.5 million. The three analysts polled by S&P Capital IQ predicted revenue of $84.5 million on the same basis. GAAP reported sales were 32% higher than the prior-year quarter's $66.4 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 $0.16. The three earnings estimates compiled by S&P Capital IQ anticipated $0.15 per share. GAAP EPS of $0.16 for Q3 were 33% higher than the prior-year quarter's $0.12 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 32.3%, 130 basis points worse than the prior-year quarter. Operating margin was 8.7%, 40 basis points worse than the prior-year quarter. Net margin was 5.9%, 70 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $84.2 million. On the bottom line, the average EPS estimate is $0.14.
Next year's average estimate for revenue is $326.5 million. The average EPS estimate is $0.52.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 515 members out of 534 rating the stock outperform, and 19 members rating it underperform. Among 126 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 125 give Perficient a green thumbs-up, and one give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Perficient is buy, with an average price target of $15.25.
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