Globecomm Systems Inc. (GCOM: Quote) Tuesday reported fourth-quarter net income of $7.1 million or $0.31 per share, compared to $2.2 million or $0.10 per share last year.
On an adjusted basis, earnings dropped to $0.13 per share from $0.20 per share in the prior year period. On average, three analysts polled by Thomson Reuters expected the company to earn $0.20 per share for the quarter. Analysts' estimates typically exclude special items.
Consolidated revenues for the quarter grew 18.8 percent to $104.8 million to $88.3 million last year. Analysts estimated revenues of $99.17 million for the quarter.
Looking forward to the full year 2013, Globecomm expects earnings of $0.66 to $0.76 per share, and revenues of $340 million to $360 million. Analysts currently expect earnings of $1.11 per share on revenues of $404.91 million for fiscal 2013.
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by RTT Staff Writer
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