Aeroflex Holding Goes Negative
Aeroflex Holding (NYS: ARX) reported earnings on May 10. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q3), Aeroflex Holding missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Aeroflex Holding reported revenue of $162.3 million. The five analysts polled by S&P Capital IQ predicted a top line of $173.0 million on the same basis. GAAP reported sales were 16% lower than the prior-year quarter's $193.2 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 $0.08. The six earnings estimates compiled by S&P Capital IQ predicted $0.16 per share. GAAP EPS were -$0.77 for Q3 versus $0.05 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 48.8%, 620 basis points worse than the prior-year quarter. Operating margin was 1.6%, 1,260 basis points worse than the prior-year quarter. Net margin was -40.2%, 4,230 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $199.0 million. On the bottom line, the average EPS estimate is $0.27.
Next year's average estimate for revenue is $691.6 million. The average EPS estimate is $0.61.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 21 members out of 29 rating the stock outperform, and eight members rating it underperform. Among four CAPS All-Star picks (recommendations by the highest-ranked CAPS members), four give Aeroflex Holding a green thumbs-up, and none give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Aeroflex Holding is hold, with an average price target of $13.10.
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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.