Q: Can you comment on the earnings released last night. I read that it was in-line with forecasts, but the share price drop of 11% sure does not show that.
Thanks
Thanks
5i Research Answer:
EPS rose from last year, to 54c from 31c, but did miss estimates of 59c. Sales of $1.3B rose 13% and slightly beat estimates. Guidance was mostly maintained but operating margins remain low at 6% to 7%. The quarter was a record but a miss is a miss, and the stock is still up nicely for the year and remains very cheap at 6.4X earnings.