The 10-second takeaway
For the quarter ended March 31 (Q1), Furmanite beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly. GAAP earnings per share grew.
Margins grew across the board.
Furmanite recorded revenue of $89.0 million. The two analysts polled by S&P Capital IQ expected revenue of $83.7 million on the same basis. GAAP reported sales were 24% higher than the prior-year quarter's $71.8 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 $0.07. The two earnings estimates compiled by S&P Capital IQ predicted $0.05 per share. GAAP EPS were $0.07 for Q1 compared to -$0.02 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 29.5%, 240 basis points better than the prior-year quarter. Operating margin was 4.6%, 450 basis points better than the prior-year quarter. Net margin was 2.9%, 410 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $102.1 million. On the bottom line, the average EPS estimate is $0.15.
Next year's average estimate for revenue is $379.9 million. The average EPS estimate is $0.42.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Furmanite is outperform, with an average price target of $7.75.
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