RigNet (NAS: RNET) reported earnings yesterday. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), RigNet beat slightly on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue increased significantly, and GAAP earnings per share improved.
Gross margins expanded, operating margins shrank, and net margins grew.
RigNet recorded revenue of $29.8 million. The two analysts polled by S&P Capital IQ foresaw revenue of $29.3 million on the same basis. GAAP reported sales were 22% higher than the prior-year quarter's $24.3 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 $0.12. The three earnings estimates compiled by S&P Capital IQ forecast $0.18 per share. GAAP EPS were $0.12 for Q4 compared to -$0.88 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 56.0%, 220 basis points better than the prior-year quarter. Operating margin was 14.7%, 180 basis points worse than the prior-year quarter. Net margin was 6.6%, 2,630 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $29.2 million. On the bottom line, the average EPS estimate is $0.19.
Next year's average estimate for revenue is $120.7 million. The average EPS estimate is $0.85.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on RigNet is buy, with an average price target of $20.33.
Is RigNet the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
Add RigNet to My Watchlist.
At the time thisarticle 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.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.