Here’s Why Nobilis Is down Today
Nobilis missed 1Q bottom-line expectations, despite posting an upbeat revenue for the period.
The company incurred a loss of $0.07 per share during the latest reported period, which was a disappointment compared to the analysts’ estimated earnings of $0.01. Revenue for the quarter grew 35% year-over-year (YoY) to $51.30 million, which also surpassed the Street’s forecast of $43.15 million, and was significantly above $37.11 million reported in the same quarter, last year.
“In the first quarter, we invested heavily in new technology and infrastructure to support our forecasted growth in 2016, which impacted our bottom-line.” The CEO also mentioned that the earnings were also pressurized by significant legal and accounting expenses related to the October short attack.
Moving ahead, the company maintained its fiscal year 2016 (FY16) revenue outlook of $320 million, which is above the consensus projection of $312.25 million. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the year are guided to be $65 million, ahead of the Street’s estimate of $60.70 million.