Tesco (TESO) Misses Q4 EPS by 1c; Will Suspend Dividend

Tesco (NASDAQ: TESO) reported Q4 EPS of ($0.33), $0.01 worse than the analyst estimate of ($0.32). Revenue for the quarter came in at $52.2 million versus the consensus estimate of $56.37 million.

In line with this cash preservation objective, the Board of Directors has decided to suspend Tesco's quarterly dividend as part of a broader plan of reducing costs, working capital, and capital expenditures. By suspending what has been a $0.05 per share quarterly dividend, Tesco will preserve approximately $8 million cash annually.

For earnings history and earnings-related data on Tesco (TESO) click here.

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