Furmanite Beats on Both Top and Bottom Lines

Seth Jayson, The Motley Fool
Updated

Furmanite (NYS: FRM) reported earnings on May 3. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q1), Furmanite beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased significantly. GAAP earnings per share grew.


Margins grew across the board.

Revenue details
 Furmanite recorded revenue of $89.0 million. The two analysts polled by S&P Capital IQ expected revenue of $83.7 million on the same basis. GAAP reported sales were 24% higher than the prior-year quarter's $71.8 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.07. The two earnings estimates compiled by S&P Capital IQ predicted $0.05 per share. GAAP EPS were $0.07 for Q1 compared to -$0.02 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 29.5%, 240 basis points better than the prior-year quarter. Operating margin was 4.6%, 450 basis points better than the prior-year quarter. Net margin was 2.9%, 410 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $102.1 million. On the bottom line, the average EPS estimate is $0.15.

Next year's average estimate for revenue is $379.9 million. The average EPS estimate is $0.42.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Furmanite is outperform, with an average price target of $7.75.

If you're interested in companies like Furmanite, you might want to check out the jaw-dropping technology that's about to put 100 million Chinese factory workers out on the street - and the 3 companies that control it. We'll tell you all about them in "The Future is Made in America." Click here for instant access to this free report.

The article Furmanite Beats on Both Top and Bottom Lines originally appeared on Fool.com.

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. The Motley Fool has no position in any of the stocks mentioned. 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 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Advertisement