Perceptron's (NASDAQ:PRCP) FQ4 revenue of $17.4M missed a sole analyst estimate of $18.3M. EPS of $0.10 missed an estimate of $0.23.
The 3D industrial measurement/inspection system vendor says "several customers delayed system installations" in FQ4, pushing revenue into FY15 and (due to fixed costs) hurting margins.
Perceptron adds profits were also hurt by "additional operating costs, primarily related to the management changes made over the course of the year, higher costs associated with additional Sarbanes Oxley compliance requirements and investments we are making to implement our new strategic plan."
Bookings totaled $20.4M, -5% Y/Y but exceeding revenue by $3M. Backlog rose by $3M Q/Q and $8.9M Y/Y to $39.3M. Americas sales totaled $6.1M, European sales $7.8M, and Asia-Pac sales $3.5M.
Gross margin fell 540 bps Y/Y to 42.7%. SG&A spend was roughly flat at $4.2M, while R&D spend fell 11% to $1.8M.
FQ4 results, PR