Mitcham Industries Increases Sales but Misses Revenue Estimate
Mitcham Industries (NAS: MIND) reported earnings on June 5. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended April 30 (Q1), Mitcham Industries missed estimates on revenues and whiffed on earnings per share.
Compared to the prior-year quarter, revenue improved significantly and GAAP earnings per share increased.
Gross margins shrank, operating margins contracted, net margins increased.
Mitcham Industries notched revenue of $34.6 million. The four analysts polled by S&P Capital IQ expected revenue of $38.0 million on the same basis. GAAP reported sales were 31% higher than the prior-year quarter's $26.5 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 $0.63. The five earnings estimates compiled by S&P Capital IQ forecast $0.82 per share. GAAP EPS of $0.63 for Q1 were 8.6% higher than the prior-year quarter's $0.58 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 48.8%, 370 basis points worse than the prior-year quarter. Operating margin was 33.7%, 20 basis points worse than the prior-year quarter. Net margin was 24.4%, 140 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $28.8 million. On the bottom line, the average EPS estimate is $0.33.
Next year's average estimate for revenue is $141.2 million. The average EPS estimate is $2.60.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 325 members out of 331 rating the stock outperform, and six members rating it underperform. Among 66 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 66 give Mitcham Industries 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 Mitcham Industries is outperform, with an average price target of $35.33.
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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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