Q: Your analysis of recent earnings would be great! I like that the backlog is at a high and am hoping this might be a signal that this will move higher in the next few quarters.
5i Research Answer:
EPS of $1.00 missed estimates of $1.17; revenue of $192.2M missed estimates of $206M. EBITDA of $19M missed estimates by 13%. Backlog is at a record, $1.5B. The defense segment grew by 12%. 5% of the public float shares have been bought and cancelled. Revenue rose 4%. The quarter was OK but certainly a miss. This is most likely reflected in the low valuation at 12X earnings, but still might keep buyers away in the short term. We would consider it a HOLD today.