Black Box (BBOX) Tops Q3 EPS by 1c; Guides Below the Street

Black Box (NASDAQ: BBOX) reported Q3 EPS of $0.37, $0.01 better than the analyst estimate of $0.36. Revenue for the quarter came in at $222.5 million versus the consensus estimate of $225.63 million.

GUIDANCE:

Black Box sees Q4 2016 EPS of $0.25-$0.30, versus the consensus of $0.38. Black Box sees Q4 2016 revenue of $217-222 million, versus the consensus of $227.1 million.

Commenting on the third quarter of Fiscal 2016 results, Michael McAndrew, President and Chief Executive Officer, said, "As a result of a favorable product mix that yielded a higher than anticipated gross profit margin combined with our previously-announced cost-containment efforts, I am pleased we achieved our profit guidance for the third quarter of Fiscal 2016 despite lower revenues relative to our guidance."

"Our Federal business performed as expected during the quarter but continues to face challenges related to lower government spending. Our Products business continues to perform and is on track to show modest organic growth in Fiscal 2016. Unfortunately, bookings levels in our Commercial Services business fell short of expectations resulting in a revenue shortfall along with reduction of our backlog. The programs and investments made in our Commercial Services sales team have yet to capitalize on our assets, including our strong client base, diverse technology skillset and broad geographic reach. Improved sales execution and cost management will continue to be our top priorities for the near term."

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

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