Blucora, Inc. (BCOR) Tops Q1 EPS by 4c

Blucora, Inc. (NASDAQ: BCOR) reported Q1 EPS of $0.94, $0.04 better than the analyst estimate of $0.90. Revenue for the quarter came in at $165.8 million versus the consensus estimate of $163.31 million.

"Our team continues to drive efforts to strengthen Blucora and execute on our strategic transformation into a technology-enabled financial solutions company," said John Clendening, president and chief executive officer of Blucora. "We began 2016 with good momentum punctuated by our strong financial performance during this year's tax season. Looking ahead, we are committed to our 2016 stated objectives of aggressively paying down debt, divesting our non-core businesses, reducing operating expenses, and delivering on our business performance goals. I am thrilled to lead a newly transformed Blucora, excited for what we can achieve together, and confident in our ability to enhance shareholder value."

Eric Emans, chief financial officer and treasurer of Blucora, noted that the Company has made progress toward its commitment to pay down debt. "We retired more than $65 million of debt in the quarter," he explained, "lowering our net leverage ratio and highlighting the Company's growth, predictable profit generation and strong free cash flow conversion. Debt repayment will remain the top priority for our capital allocation strategy throughout this year and into 2017."

For earnings history and earnings-related data on Blucora, Inc. (BCOR) click here.

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