Needham & Company Reiterates a 'Strong Buy' on Black Diamond (BDE); Slightly Adjusting Estimates
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Price: $6.65 --0%
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Needham & Company reiterates a 'Strong Buy' on Black Diamond (NASDAQ: BDE) price target of $11.00.
Analyst, Sean McGowan, said, "In early February, BDE preannounced rough sales estimates of ~$36mm and provided initial 2012 guidance; actual Q4 sales were $36.3mm. EPS came in slightly higher than our estimate ($0.16 vs. $0.14). Management previously guided for 2012 sales of between $160-165mm, but added that the company was now expecting first-half sales of $76-79mm. Gross margin should remain relatively constant YoY at 38.7%. The company recently completed a $63.4mm equity offering, and said it is in “advanced discussions” with an acquisition candidate. We have adjusted our estimates slightly by increasing 2012 1H sales to $76.2 mm, which represents 46.6% of our 2012 estimate of $163.3mm (2011 1H sales were 46.2% of full-year sales)." (Needham maintains FY13 estimates at $0.15 and $197.7 mln)
For an analyst ratings summary and ratings history on Black Diamond click here. For more ratings news on Black Diamond click here.
Shares of Black Diamond closed at $8.93 yesterday.
Analyst, Sean McGowan, said, "In early February, BDE preannounced rough sales estimates of ~$36mm and provided initial 2012 guidance; actual Q4 sales were $36.3mm. EPS came in slightly higher than our estimate ($0.16 vs. $0.14). Management previously guided for 2012 sales of between $160-165mm, but added that the company was now expecting first-half sales of $76-79mm. Gross margin should remain relatively constant YoY at 38.7%. The company recently completed a $63.4mm equity offering, and said it is in “advanced discussions” with an acquisition candidate. We have adjusted our estimates slightly by increasing 2012 1H sales to $76.2 mm, which represents 46.6% of our 2012 estimate of $163.3mm (2011 1H sales were 46.2% of full-year sales)." (Needham maintains FY13 estimates at $0.15 and $197.7 mln)
For an analyst ratings summary and ratings history on Black Diamond click here. For more ratings news on Black Diamond click here.
Shares of Black Diamond closed at $8.93 yesterday.
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