Lionbridge Technologies (LIOX) Misses Q3 EPS by 2c; Issues Outlook
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Genesco (GCO) Tops Q3 EPS Views, Sales Light
- Big Lots (BIG) Tops Q3 EPS by 5c; Boosts FY16 EPS Outlook
- Zumiez, Inc. (ZUMZ) Tops Q3 EPS by 7c
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!