Author Archives: Lauren Reece

Fiserv Reports Solid First-Quarter Results

May 5, 2014 on , by

Fiserv Reports Solid First-Quarter Results

May 5, 2014 on , by

Fiserv reported first quarter 2014 results, which we characterize as modestly better than expectations. Adjusted internal revenue grew 5.6% year-over-year, compared with our estimate of 3.8% growth. The payments segment grew 8.5%, while the financial segment grew 2.7%, with both coming in above  estimates. The adjusted operating margin was 29.6%, an improvement of 120 basis…

3D Systems Corporation Year-Over-Year Growth, but Sequential Results Raise Questions

May 2, 2014 on , by

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%.…

Healthcare Services Group Quarterly Results Exactly In Line With Expectations

April 29, 2014 on by

On Tuesday after the markets closed, Healthcare Services Group (HCSG) reported in-line first-quarter 2014 results. More specific, the company reported total sales of $312.2 million, up 14.0% year-over-year and exactly in line with the consensus forecast; earnings per share were $0.21, also spot on the Street target. Top-line growth of 14.0% represented a solid acceleration…

Zumiez Modestly Raising Estimates on Better-Than-Expected March Sales

April 28, 2014 on , by

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…

Regulatory Update; Terrorism Bill Moves in Much More Favorable Direction

April 26, 2014 on , by

The Financial Markets Committee within the Duma approved a toned-down draft of amendments to Russian Federation Law No. 161-FZ. Of course, this does not remove geopolitical risk, which is quite difficult to call. Obviously, escalation of the Ukraine crisis would be troublesome for Qiwi shares and a de-escalation would be very good news for the…

AT&T Inc. Increased Penetration of Next Pricing

April 20, 2014 on , , by

Based on exit take rates for 2013, analysts have revised assumptions around the success of the company’s Next pricing plan. Approximately 15%, or 1.2 million, of the 7.9 million smartphones purchased on the AT&T network were associated with the Next plan in the fourth quarter, with that percentage escalating to around 20% at the end of…

European Truck Registrations Demonstrate Continued Year-Over- Year Growth Momentum in February

April 17, 2014 on , by

ACEA released its February commercial vehicle registration data. EU heavy-duty truck sales were up 20% year-over-year (15,889 vehicles) in February, higher than the 10% growth in January. The increase in the over 3.5 ton category was 17% as trucks in the medium-duty category tons were up 9% (4,759 vehicles).    

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