Safeguard Scientifics (SFE) Tops Q4 EPS by 12c

Safeguard Scientifics (NYSE: SFE) reported Q4 EPS of ($0.81), $0.12 better than the analyst estimate of ($0.93).

"We are pleased with our accomplishments in 2018. Our partner companies continue to mature and we are well-positioned to capitalize on exit opportunities that will create value for our shareholders," said Brian J. Sisko, Safeguard's President and CEO. "Since we announced our strategy change in January 2018, Safeguard has realized over $120 million in cash proceeds related to monetizations of our partner companies."

OUTLOOK

As a result of the significant changes implemented during 2018, including the monetization of several of our partner company interests, the reduction of the Company\'s debt burden, and our dramatically reduced operating cost structure, Safeguard is well positioned for 2019. Based upon the January 2019 closing of the Propeller transaction, Safeguard expects to make an additional principal repayment in excess of $20 million on our credit facility in April 2019. Further, Safeguard\'s aggregate cash and marketable securities will exceed our debt balances. We continue to be optimistic about the overall health of our partner companies and expect that further exit events in 2019, if achieved at a sufficient level, will position Safeguard to make further early repayments on the credit facility and begin returning value to shareholders thereafter.

For earnings history and earnings-related data on Safeguard Scientifics (SFE) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c
• Faeth Therapeutics names two SVPs ahead of clinical milestones