Measurement Specialties (NASDAQ: MEAS) reported Q1 EPS of $0.56, $0.08 better than the analyst estimate of $0.48. Revenue for the quarter came in at $89 million versus the consensus estimate of $89 million.
Frank Guidone, Company CEO commented, “We had a solid finish to another challenging year. We began fiscal 2013 with a strong first half, but similar to fiscal 2012, weak macro conditions created a situation where many customers cut their outlook resulting in inventory contraction in the supply chain and soft sales in our second half. Global demand increased in the fourth quarter as evidenced by our strong bookings and solid book-to-bill which gave us some recovery in sales; however, not back to first half levels. With strong 4th quarter bookings, momentum on development programs and contribution from both the RTD and Spectrum acquisitions, we believe we are well positioned to deliver against our adjusted sales guidance of $400 to $405 million for fiscal 2014 and target Adjusted EBITDA margin of 20%+. Increasing our first quarter sales guidance for the Spectrum acquisition yields a target of $98 million. While we remain cautious given the tepid macro-economic environment, we are confident in our long term growth strategy and ability to drive shareholder value.”
For earnings history and earnings-related data on Measurement Specialties (MEAS) click here.
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