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Wed, May 6, 3:31 PM
- Today's notable tech gainers include LED/chip equipment maker Aixtron (AIXG +6.7%), distributed power system/software firm PowerSecure (POWR +7.2%), cloud customer support software vendor Zendesk (ZEN +5%), and chip packaging IP firm Tessera (TSRA +4.9%).
- Notable decliners include LED giant Cree (CREE -4.2%), 3D printer maker ExOne (XONE -5.6%), big data/analytics software provider Hortonworks (HDP -5.7%), health site owner Everyday Health (EVDY -7.7%), and IP licensing firm WiLAN (WILN -6%). The Nasdaq is down 0.7%.
- PowerSecure is up after beating Q1 estimates on the back of major increases in Distributed Generation and Solar Energy segment sales. Zendesk is up after posting a Q1 beat and guiding for full-year revenue of $192M-$195M (above a $189.6M consensus). Tessera is rallying thanks to a Q1 beat and strong Q2 guidance (revenue of $62M-$64M and EPS of $0.47-$0.50 vs. a consensus of $$57.3M and $0.40).
- Cree is adding to the losses seen two weeks ago after it posted mixed results and light guidance. ExOne's drop comes after larger rival 3D Systems declined to provide guidance with its Q1 results. Everyday has been downgraded to Hold by Stifel. WiLAN is adding to last week's post-earnings losses.
- Previously covered: Zulily, Groupon, Axcelis, QuinStreet, Skullcandy, Millennial Media, LendingClub, TechTarget, Anadigics, Zagg, Cray, Enphase, Wix.com, Jive Software
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May 8, 2014, 2:31 PM
- On top of badly missing Q1 estimates, PowerSecure (POWR -61.7%) is guiding for Q2 revenue of $55M-$60M and EPS of -$0.09 to -$0.15, far below a consensus of $77.6M and $0.15. Revenue is expected to grow to $62M-$67M in Q3 (below an $89.3M consensus), and $67M-$72M in Q4.
- PowerSecure ended Q1 with $38.2M in cash, down sharply from $50.9M at the end of Q4. Term debt and capital leases total $26.1M.
- Backlog is currently at $225M, down from $248M at the time of the March 10 Q4 report. Gross margin fell to 20.9% in Q1 from 30.6% a year ago.
- The company says it "mis-timed actions to shift resources to more profitable customers," and is seeing "protracted timing in converting larger distributed generation project opportunities from [its] pipeline."
- Silver Spring Networks, another technology provider to utilities, crashed yesterday after providing weak guidance blamed on delayed deal closings.
- Q1 results, PR
May 7, 2014, 5:23 PM
Mar. 11, 2014, 10:27 AM
- PowerSecure International (POWR +10.2%) surges to a new all-time high following a strong Q4 earnings beat on a 57% surge in revenue, driven by gains in its energy efficiency and utility infrastructure businesses.
- Revenue backlog stands at an all-time high of $248M; operating margin decreased to 4.8% vs. 6.7% in the year-ago quarter, driven by the decrease in gross margins and partially offset by a decrease in operating expenses as a percentage of revenues.
- POWR is upgraded to Buy from Hold with a $30 price target at Maxim Group, which cites the record backlog, its pipeline of opportunities and expectations for margins to gravitate higher throughout 2014-15; Baird raises its price target to $29, also citing expected margin expansion.
Mar. 10, 2014, 4:05 PM
Mar. 10, 2014, 12:10 AM
PowerSecure International Inc provides products and services to electric utilities. It provides its products through three segments: distributed generation segment, utility infrastructure segment, and energy efficiency segment.
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