MTS Systems (MTSC) Reports Q3 EPS of 72c Provides Outlook
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MTS Systems (NASDAQ: MTSC) reported Q3 EPS of $0.72, may not compare to the analyst estimate of $0.71. Revenue for the quarter came in at $134 million versus the consensus estimate of $141.59 million.
"While the global economy continues to expand at a slower pace than we had originally anticipated this year, and we see some weakness in capital spending in general, our specific end-markets remain strong. In Test, our high level of backlog and strong order pipeline confirms the macro trends driving investments by our customers in new product development capabilities. In Sensors, we continue to see strong order activity across market segments and in most geographic regions. As such, we are confirming our previously issued guidance range for revenue of $565 million to $580 million and earnings per share of $3.00 to $3.20. However, given the ongoing impact from the higher mix of custom Test orders, which come with lower margins, and the strain on our engineering resources resulting in slower conversion of our backlog, we expect to be at the low end of our guidance range for both revenue and earnings per share. We are continuing to enhance our product capabilities, improve our business processes and drive productivity improvements in Test, as well as new product development in Sensors, to drive the business forward for the remainder of this year and into fiscal 2016," Dr. Graves concluded.
(Street sees FY EPS of $3.13 on revenue of $573 million)
For earnings history and earnings-related data on MTS Systems (MTSC) click here.
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