Q: Peter; Could you comment on BDT numbers- seemed ok to me but Mr. Market doesn’t seem to like them ? Thanks .
Rod
Rod
5i Research Answer:
EPS of 23c beat estimates of 19c; revenue of $717M missed estimates of $741M. EBITDA of $34.1M beat estimates by 3%. In addition to the revenue miss, BDT noted that growth was going to be concentrated in the second half of the year which raised some concerns with investors about contracts being pushed out. Sales rose 4.3%. EBITDA rose 41%. Backlog is $4.3B, the highest in the company's history. The stock drop seems less harsh considering the 29% gain shares had leading into this quarter.