Q: Your thoughts please on the quarter released this week? Markets seemed to like ir?
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5i Research Answer:
EPS of 38c beat estimates of 36c; revenue of $124.4M missed estimates of $125.8M. EBITDA of $33.66M beat estimates by 1.2%. Revenue fell 1% year over year. EBITDA fell 5.5%. Net cash is $258M. It was an earnings beat and the stock bounced a bit, but consensus calls for only 6% EPS growth next year. The stock is very very cheap but it will take more than this quarter to really get things moving here again. We think it is good for income investors (5.71% yield) but not hugely attractive otherwise.