Safeguard Scientifics, Inc. (SFE) Tops Q1 EPS by 11c

Safeguard Scientifics, Inc. (NYSE: SFE) reported Q1 EPS of $1.44, $0.11 better than the analyst estimate of $1.33.

“Safeguard continues to create shareholder value through a disciplined execution of our strategic business model,” said Stephen T. Zarrilli, President and CEO at Safeguard. “During the quarter, we led a $17 million Series B financing for InfoBionic, an emerging digital health company headquartered in Massachusetts. Subsequent to the quarter, Safeguard sold its ownership stake in Sotera Wireless for $4.2 million in cash proceeds, representing a 1.5x cash-on-cash return for Safeguard. Our momentum remains strong and opportunities abound for additional M&A and value creation events in the future.”

“As of March 31, 2014, Safeguard deployed $177 million of capital into its 20 partner companies,” said Jeffrey B. McGroarty, Senior Vice President and Chief Financial Officer at Safeguard. “Our net cash, cash equivalents and marketable securities totaled $191.5 million, after subtracting the total carrying value of debt outstanding of $50.2 million. As a result of net proceeds from our recent exit transactions, Safeguard has exceptional financial strength, flexibility and liquidity.”

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

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