Landauer (LDR) Misses Q2 EPS by 8c; Guides FY15 Revs In-Line

Landauer (NYSE: LDR) reported Q2 EPS of $0.37, $0.08 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $38.1 million versus the consensus estimate of $40 million.

Landauer sees FY2015 revenue of $153-163 million, versus the consensus of $157.9 million.

Mike Leatherman, President and Chief Executive Officer of Landauer stated, "While our reported results for the second quarter reflected the impact of foreign currency and our audit, legal and professional fees incurred to complete our latest Form 10-K filing, our core business remains strong. During the quarter, revenues in our domestic radiation measurement segment grew 4.3%, and revenues in our Medical Physics segment grew 7.5%. The growth in these services demonstrates the strength of our unique position as an integrated solution for our customers."

Leatherman continued, "During the second quarter, we have continued to focus on our strategic priorities that will drive long-term, profitable growth, including the continued progress of our next generation digital dosimeter platform, Verifii, and the remediation of the accounting control issues identified in our latest Form 10-K filing. We remain confident that we have put the right team and structure in place to drive growth for our shareholders."

Fiscal 2015 Outlook

Landauer's business plan for fiscal 2015 currently anticipates aggregate revenues for the year to be in the range of $153 to $163 million. This range reflects the uncertainty of the impact of foreign currencies, and to a lesser extent, government funding during fiscal 2015 for military equipment sales opportunities. The business plan also anticipates:

• The effective tax rate for the full fiscal year is anticipated to be within a range of 21 percent to 25 percent.
• Based upon the above assumptions, the Company anticipates Adjusted Net Income for fiscal 2015 in the range of $16 to $19 million and Adjusted EBITDA expected for fiscal 2015 in the range of $41 to $46 million.
• Due to the impact of unfavorable foreign currency rates on reported revenues, Adjusted Net Income and Adjusted EBITDA, the Company expects to report fiscal 2015 results near the lower end of the range for these metrics.

For earnings history and earnings-related data on Landauer (LDR) click here.

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