$FSYS - Fuel Systems Solutions reports EPS in-line, revs in-line; guides FY13 revs in-line
7:03 AM ET 11/7/13 | Briefing.com
Reports Q3 (Sep) earnings of $0.05 per share, in-line with the Capital IQ Consensus Estimate consensus of $0.05; revenues rose 8.9% year/year to $97.6 mln vs the $97.57 mln consensus.
Guidance:
Co issues in-line guidance for FY13, sees FY13 revs of lower end of prior guide of $400-420 mln vs. $416.06 mln Capital IQ Consensus Estimate. The outlook for 2013 gross margin of 21% to 23% and for 2013 operating margin of 2% to 4% are reaffirmed.
This updated outlook is based upon the following expectations: Automotive operations -- slower global transportation market given increasingly aggressive competition and the difficult economies in developing countries and Europe, and the timing of certain major projects and initiatives in the fourth quarter of 2013 and into the future. The slower markets will be partially offset by contributions from DOEM programs, particularly in the US, combined with additional contributions from Asia and Latin American automotive markets. Industrial operations -- growth in the APU market; slight growth in stationery equipment and mobile industrial markets overall with a mix of stable and weaker geographies. A comparable margin performance in 2013 relative to 2012 as the Company focuses on achieving greater operational efficiencies given some margin compression expected from an increasingly competitive environment; continued selected investments in key leading edge technologies.
