Black Box Corp (BBOX) Misses Q2 EPS by 20c; Guides EPS Below Views

Black Box Corp (NASDAQ: BBOX) reported Q2 EPS of $0.37, $0.20 worse than the analyst estimate of $0.57. Revenue for the quarter came in at $248.9 million versus the consensus estimate of $256.7 million.

Black Box Corp sees Q3 2014 EPS of $0.43-$0.48, versus the consensus of $0.61. Black Box Corp sees Q3 2014 revenue of $250-255 million, versus the consensus of $254.1 million.

Black Box Corp sees FY2014 EPS of $1.70-$1.80, versus the consensus of $2.21. Black Box Corp sees FY2014 revenue of $995-1.005 billion, versus the consensus of $1.01 billion.

Commenting on the second quarter of Fiscal 2015 results, Michael McAndrew, President and Chief Executive Officer, said, "I am pleased with our year-over-year revenue growth in the second quarter of Fiscal 2015. The 7% growth in North America Products and the 2% growth in North America Services demonstrate that our targeted programs are working and the allocation of capital to internal growth initiatives is generating returns.

"However, I am disappointed with our gross profit and operating income for the quarter. We incurred significant cost overruns on a large, national deployment project resulting from poor management by our team. While we delivered an excellent outcome for our client, we uncharacteristically did not manage project costs appropriately. We recognize that we must continue to perform well for our clients while ensuring appropriate financial outcomes for our company and shareholders.

"Despite this event, I am confident that we are positively changing the trajectory of our business. We will continue to make investments that expand our ability to serve our clients and drive future growth and shareholder value."

For earnings history and earnings-related data on Black Box Corp (BBOX) click here.

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