Melco Crown Entertainment Beats on Both Top and Bottom Lines
Melco Crown Entertainment (NAS: MPEL) reported earnings yesterday. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Melco Crown Entertainment beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share increased significantly.
Margins improved across the board.
Melco Crown Entertainment tallied revenue of $1.03 billion. The five analysts polled by S&P Capital IQ foresaw a top line of $1.00 billion on the same basis. GAAP reported sales were 27% higher than the prior-year quarter's $806.6 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 $0.23. The five earnings estimates compiled by S&P Capital IQ anticipated $0.14 per share. GAAP EPS of $0.22 for Q1 were much higher than the prior-year quarter's $0.01 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 29%, 810 basis points better than the prior-year quarter. Operating margin was 13.8%, 930 basis points better than the prior-year quarter. Net margin was 11.9%, 1,100 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.03 billion. On the bottom line, the average EPS estimate is $0.15.
Next year's average estimate for revenue is $4.11 billion. The average EPS estimate is $0.64.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,298 members rating the stock outperform and 51 members rating it underperform. Among 328 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 314 give Melco Crown Entertainment a green thumbs-up, and 14 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Melco Crown Entertainment is outperform, with an average price target of $15.79.
- Add Melco Crown Entertainment to My Watchlist.
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.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.