Vecima Networks Inc. (VCM.TO) announced earnings for second quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at C$3.6 million, or C$0.15 per share. This compares with C$8.1 million, or C$0.35 per share, in last year's second quarter.
Excluding items, Vecima Networks Inc. reported adjusted earnings of C$0.15 per share for the period.
Analysts on average had expected the company to earn C$0.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 18.6% to C$62 million from C$76.2 million last year.
Vecima Networks Inc. earnings at a glance (GAAP) :
-Earnings (Q2): C$3.6 Mln. vs. C$8.1 Mln. last year.
-EPS (Q2): C$0.15 vs. C$0.35 last year.
-Analyst Estimates: C$0.06
-Revenue (Q2): C$62 Mln vs. C$76.2 Mln last year.
For comments and feedback: editorial@rttnews.com