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Omar Venerio
Articles (1455) 

3 Stocks Down on Wednesday

Agilent Technologies, MICT, Casa Systems fall on earnings

August 15, 2018 | About:

Agilent Technologies Inc. (NYSE:A) shares fell Wednesday after reporting third-quarter earnings per share of 67 cents on $1.2 billion in revenue on Tuesday, a 8.1% year-over-year increase. The company beat earnings estimates by 4 cents and was in-line with revenue expectations.

Looking ahead, the company expects fourth-quarter revenue between $1.24 billion and $1.26 billion. Non-GAAP earnings are expected to be between 72 cents and 74 cents per share. For fiscal 2018, it expects $4.86 billion to $4.88 billion in revenue and non-GAAP earnings of $2.69 to $2.71 per share.

Shares of MICT Inc. (NASDAQ:MICT) fell more than 8% Wednesday after the company reported a second-quarter loss of 14 cents per share on $4.7 million in revenue, a 25% year-over-year increase.

For the first half of the year, revenue was $10.7 million, a 65% increase from $6.45 million in the prior-year period. The gross profit increased by 184% to $3.25 million. The gross profit margin was 30%, compared to 18% in the first half of 2017.

Casa Systems Inc. (NASDAQ:CASA) plunged more than 20% after reporting second-quarter earnings per share of 24 cents on $68.7 million in revenue, a 3.1% year-over-year increase. The company beat earnings estimates by 1 cent, but fell $21.32 million short of revenue expectations.

The gross margin was 71.9%, up from 68.7% in the second quarter of 2017. GAAP net income was $21.4 million and non-GAAP net income was $22.2 million. Adjusted earnings before interest, taxes, depreciation and amortization were $19.8 million, a decrease of 12.4% from a year ago.

For fiscal 2018, Casa Systems expects revenue between $330 million and $350 million, non-GAAP net income between $76 million and $83 million and non-GAAP diluted net income per share between 80 cents and 88 cents.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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