Black Box Corp (BBOX) Misses Q1 EPS by 9c; Guides Below for FY13 - CEO Comments

July 31, 2012 5:19 PM EDT
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Black Box Corp (NASDAQ: BBOX) reported Q1 EPS of $0.53, $0.09 worse than the analyst estimate of $0.62. Revenue for the quarter came in at $248 million versus the consensus estimate of $256.2 million.

Black Box Corp sees FY2013 EPS of $2.45-$2.85, versus the consensus of $2.88. Black Box Corp sees FY2013 revenue of $990 million-1.03 billion vs. consensus of $1.08 billion.

Commenting on the first quarter of Fiscal 2013 results, Terry Blakemore, President and CEO, said, "In the first quarter of Fiscal 2013, our expected revenue and profitability levels were negatively impacted by delays in anticipated awards from our Federal clients. In addition, at a macro level, we continue to see weak IT spending and slower than expected economic growth, lengthening sales cycles and deferring project starts."

"However, I am confident that Black Box is well-positioned competitively, and know that our broad portfolio of products and world-class service capabilities will strengthen our results when client spend returns. Until that time, we are focused on managing our flexible cost structure to ensure continued profitability and strong cash flow."

For earnings history and earnings-related data on Black Box Corp (BBOX) click here.

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