Matthews International Corp (MATW) Tops Q3 EPS by 5c

Matthews International Corp (NASDAQ: MATW) reported Q3 EPS of $0.86, $0.05 better than the analyst estimate of $0.81. Revenue for the quarter came in at $280 million versus the consensus estimate of $260.63 million.

"We are pleased with the consolidated results for the fiscal 2014 third quarter. As a result of the significant merchandising display and waste incineration projects, our operating results for the current quarter exceeded our internal expectations. While, in our second quarter update, we considered these projects in our earnings estimates for the current fiscal year, the timing on much of this work was sooner than anticipated. We continue to be encouraged by the opportunities for our merchandising solutions capabilities, and customer interest in our waste incineration products continues to develop.

"In our Brand Solutions group, third quarter sales for the Marking and Fulfillment Systems segment increased almost 9% from a year ago, reflecting organic growth for our traditional marking equipment, both in North America and Europe. In addition, order rates for the segment's fulfillment systems products remains strong for deliveries into fiscal 2015. For Graphics Imaging, the segment's European sales remained relatively stable during the current quarter and we were encouraged by sales improvement in North America.

"Sales for the current quarter were below prior year in our Cemetery Products and Funeral Home Products businesses, reflecting the impact of U.S. casketed, in-ground burial death rates. These businesses are continuing to realize benefits from our cost structure initiatives (including lean and strategic sourcing)."

For earnings history and earnings-related data on Matthews International Corp (MATW) click here.

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