LMI Aerospace (LMIA) Reports In-Line Q3 EPS; Issues Solid FY17 Rev Outlook
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
LMI Aerospace (NASDAQ: LMIA) reported Q3 EPS of $0.02, in-line with the analyst estimate of $0.02. Revenue for the quarter came in at $89.7 million versus the consensus estimate of $88.63 million.
LMI Aerospace sees FY2016 revenue of $345-355 million, versus the consensus of $348.73 million.
LMI Aerospace sees FY2017 revenue of $370-400 million, versus the consensus of $372.68 million.
“We improved third quarter sales, operating profit and net income over the previous three quarters,” said LMI Aerospace Chief Executive Officer Dan Korte. "We also recently announced the delivery of our first Honda Jet aileron and flap assemblies in the quarter. These results demonstrate progress toward our strategic goals. We took another step toward achieving our long-term growth plans by winning an additional $85,000 per shipset in content on the Boeing 777X. With these latest wins, LMI now has more than $135,000 of new content on this platform, and we continue to pursue other 777X opportunities.
“We remain on track to close our Wichita sheet-metal operation by the end of the year. Additionally, we retired $10 million of higher-interest notes during the quarter as we work to strengthen the balance sheet and reduce interest expense. These actions support ongoing efforts to improve bottom line results and drive higher shareholder returns, even as we continue preparing for production ramp-ups with our latest investments to expand machining capacity in Fredonia."
For earnings history and earnings-related data on LMI Aerospace (LMIA) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ocean Power Technologies (OPTT) Reports Q2 Loss of $0.25/Share
- NCI Building Systems (NCS) Misses Q4 EPS by 3c
- Methode Electronics (MEI) Tops Q2 EPS by 11c; Boosts FY17 EPS Guidance
Create E-mail Alert Related CategoriesEarnings, Guidance, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!