The 10-second takeaway
For the quarter ended June 29 (Q1), Black Box beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. Non-GAAP earnings per share dropped. GAAP earnings per share increased significantly.
Gross margins shrank, operating margins dropped, net margins increased.
Black Box reported revenue of $246.9 million. The one analyst polled by S&P Capital IQ predicted revenue of $240.1 million on the same basis. GAAP reported sales were 0.4% lower than the prior-year quarter's $247.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.54. The one earnings estimate compiled by S&P Capital IQ forecast $0.56 per share. Non-GAAP EPS of $0.54 for Q1 were 3.6% lower than the prior-year quarter's $0.56 per share. GAAP EPS of $0.43 for Q1 were 26% higher than the prior-year quarter's $0.34 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 31.2%, 80 basis points worse than the prior-year quarter. Operating margin was 5.0%, 60 basis points worse than the prior-year quarter. Net margin was 2.8%, 40 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $255.7 million. On the bottom line, the average EPS estimate is $0.78.
Next year's average estimate for revenue is $1.00 billion. The average EPS estimate is $2.80.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 69 members out of 83 rating the stock outperform, and 14 members rating it underperform. Among 21 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 18 give Black Box a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Black Box is buy, with an average price target of $31.00.
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