3D Systems reported headline first-quarter earnings results that were in line with expectations, with revenue of $148 million and adjusted EPS of $0.15. Strong year-over-year revenue growth was driven by 28% reported organic growth and 17% related to acquisitions. Printers and products increased 53% year-over-year, while materials revenue grew 41% and services revenue grew 39%.…
The Progressive Corporation March Results: Strong PIF Growth, Good Accident Year Metrics Highlight March Earnings Beat
Progressive’s March results showed a marked improvement versus the first two months of the year, with the accident year loss ratio moving back to 69% from the 73% average over the first two months, and sequential growth accelerating across all key business segments.
Ritchie Bros. Auctioneers Inc. March Auction Results Decline Due to Auction Timing
Ritchie Bros. reported March gross auction proceeds (GAP) of $524 million, which was a decrease of 8% from $569 million a year ago. While the magnitude of the decrease was likely a little bigger than consensus forecasts, it was mostly expected given the company’s commentary at its analyst day that February results were inflated because…
ABIOMED, Inc. Sees European Approval of RP as Another Positive Development
Tuesday morning Abiomed announced that its Impella RP device, which provides temporary support for patients with right ventricular failure, received CE mark approval in Europe. This is a positive development for the company, and while we do not expect an immediate bump in sales. The Impella RP is similar to Abiomed’s flagship left-side Impella device…
Zumiez Modestly Raising Estimates on Better-Than-Expected March Sales
Zumiez’s March sales were better than Street projections, with comps down 2.9% against a 2.1% year-ago comparison, better than our and consensus projection for a midsingle-digit decline. As a result, Zumiez’s quarter-to-date comp decline of 0.8% is at the better end of management’s guidance for a full-quarter comp decrease in the low-single-digit range. Category trends…
Urban Outfitters Quarter-to-Date Comps on Track Versus Expectations
In its 10-K filed after the markets closed on Tuesday, Urban Outfitters indicated quarter-to-date comp trends are in the negative low-single-digit range, likely putting the company on track to meet full-quarter consensus expectations for an approximate 1% comp increase and our estimate of relatively flat given the shift in Easter to late April. Urban’s 10-K…
HealthStream ICD-10 Delay Should Be a Modest Positive
Last week, legislation delayed the transition to the ICD-10 coding system for one year, to October 1, 2015. HealthStream has captured meaningful market share for ICD-10 training, and revenue from ICD-10 content was 13% of sales in fourth quarter 2013, leaving some investors concerned that it is a temporary driver that has been inflating revenue…
MSC Industrial Accelerating Sales Growth and Positive Tone Bode Well for Shares
Accelerating sales growth, an EPS beat, and positive management tone drove MSC Industrial shares up nearly 5%. EPS were $0.02 ahead of the Street, although the bar was low due to weather fears. The headline was accelerating organic sales growth in March to 10% and guidance for 7%-9% growth in the fiscal third quarter. Management said…
Alliance Data Systems Corporation March Data Suggests Solid March-Quarter
Alliance Data Systems (ADS) reported monthly data for March; charge-offs and loan growth were modestly better than our expectations, and delinquencies were consistent with historical seasonal trends. In March, net charge-offs for the managed portfolio rose 10 basis points month-to-month, to 4.7%, and 30-day-plus delinquencies fell 40 basis points month-to-month, to 3.9%. For the March…
Aruba Networks VAR Contacts Point to Same Conclusion
Recent in-depth VAR discussions reinforce our confidence in both Aruba’s short-term trajectory and long-term growth strategy. In the near term, Aruba’s business is being driven by three main product catalysts—802.11ac, Instant, and ClearPass—each of which we believe are best of breed. In the medium to long term, as the network edge becomes wireless-centric and the…