Lionbridge Technologies (LIOX) Misses Q3 EPS by 2c; Issues Outlook
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Lionbridge Technologies (NASDAQ: LIOX) reported Q3 EPS of $0.13, $0.02 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $135.2 million versus the consensus estimate of $137.06 million.
"2016 has been a year of transformation. Our reconfiguration into business units is proving to be the right decision. Our leaders are focused and energized. Our new business momentum is returning. We are seeing larger, longer-term contracts. We are reducing our SG&A expenses to maximize profitability. And, despite some lumpiness in the quarter, we are starting to see new growth opportunities in some of our largest accounts," said Rory Cowan, CEO, Lionbridge. "With our organizational transformation complete, we expect to return to revenue growth in 2017 with ongoing earnings expansion."
Lionbridge provided an outlook for the fourth quarter of 2016 with estimated revenue of $134-138 million, versus the consensus of $141.5 million.
The Company also provided a preliminary outlook for FY 2017 with estimated year-on-year revenue growth of 4-6%, and double-digit Adjusted EBITDA growth year-on-year.
bridge Technologies (LIOX) click here.
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