CapLease Posts a Surprise Profit
CapLease (NYS: LSE) reported earnings on Feb. 17. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), CapLease met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped, and GAAP earnings per share grew. The profit was a surprise, as analysts had predicted a loss.
Gross margins dropped, operating margins dropped, and net margins grew.
CapLease booked revenue of $39 million. The four analysts polled by S&P Capital IQ predicted sales of $38.9 million on the same basis. GAAP reported sales were 6.6% lower than the prior-year quarter's $41.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.22. The two earnings estimates compiled by S&P Capital IQ predicted -$0.03 per share. GAAP EPS were $0.22 for Q4 against -$0.18 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 82.2%, 290 basis points worse than the prior-year quarter. Operating margin was 43.2%, 460 basis points worse than the prior-year quarter. Net margin was 41.2%, 6,230 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $41.5 million. On the bottom line, the average EPS estimate is -$0.03.
Next year's average estimate for revenue is $169.1 million. The average EPS estimate is -$0.12.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on CapLease is outperform, with an average price target of $5.45.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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