Caesarstone Sdot-Yam (CSTE) Reports In-Line Q4 EPS; Guides FY16 Revs Below Consensus

Caesarstone Sdot-Yam (NASDAQ: CSTE) reported Q4 EPS of $0.55, in-line with the analyst estimate of $0.55. Revenue for the quarter came in at $127.4 million versus the consensus estimate of $126.54 million.

The Company also announced today that its Board of Directors has authorized a $40 million ordinary share repurchase program. The Board noted that this authorization reflects its commitment to drive value to shareholders, the Company’s strong balance sheet, and confidence that Caesarstone is well positioned to generate significant future free cash flow. Under the authorization, the Company may repurchase shares in the open market from time to time, subject to regulatory requirements. The program does not obligate the Company to acquire any specific number of shares and may be suspended or discontinued at any time.

GUIDANCE:

Caesarstone Sdot-Yam sees FY2016 revenue of $550-565 million, versus the consensus of $567.2 million.

For earnings history and earnings-related data on Caesarstone Sdot-Yam (CSTE) click here.

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