Computer Task Group Increases Sales but Misses Revenue Estimate
Computer Task Group (NAS: CTG) reported earnings on July 22. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 28 (Q2), Computer Task Group missed estimates on revenues and met expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. GAAP earnings per share contracted.
Gross margins dropped, operating margins increased, net margins dropped.
Computer Task Group tallied revenue of $107.1 million. The four analysts polled by S&P Capital IQ hoped for a top line of $111.9 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.24. The four earnings estimates compiled by S&P Capital IQ predicted $0.24 per share. GAAP EPS of $0.24 for Q2 were 4.0% lower than the prior-year quarter's $0.25 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 21.1%, 40 basis points worse than the prior-year quarter. Operating margin was 6.0%, 20 basis points better than the prior-year quarter. Net margin was 3.8%, 10 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $115.0 million. On the bottom line, the average EPS estimate is $0.28.
Next year's average estimate for revenue is $455.0 million. The average EPS estimate is $1.06.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Computer Task Group is buy, with an average price target of $24.19.
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The article Computer Task Group Increases Sales but Misses Revenue Estimate originally appeared on Fool.com.
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