The 10-second takeaway
For the quarter ended March 31 (Q1), Fairpoint Communications met expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP loss per share expanded. GAAP loss per share grew.
Margins dropped across the board.
Fairpoint Communications reported revenue of $235.5 million. The three analysts polled by S&P Capital IQ predicted a top line of $239.0 million on the same basis. GAAP reported sales were 5.2% lower than the prior-year quarter's $248.5 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 -$2.27. The three earnings estimates compiled by S&P Capital IQ forecast -$1.74 per share. Non-GAAP EPS were -$2.27 for Q1 versus -$1.80 per share for the prior-year quarter. GAAP EPS were -$1.82 for Q1 against -$1.80 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 50.5%, 60 basis points worse than the prior-year quarter. Operating margin was -26.1%, 370 basis points worse than the prior-year quarter. Net margin was -20.2%, 140 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $237.7 million. On the bottom line, the average EPS estimate is -$1.37.
Next year's average estimate for revenue is $951.0 million. The average EPS estimate is -$5.77.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Fairpoint Communications is outperform, with an average price target of $15.00.
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