Earnings season continues with Triangle area firms reporting more financial updates, including Bandwidth, Syneos Health and Asensus Surgical (formerly known as TransEnterix).
The details:
- Bandwidth
RALEIGH – Bandwidth Inc. (BAND) reported a loss of $6.9 million in its second quarter.
On a per-share basis, the Raleigh-based company said it had a loss of 28 cents. Earnings, adjusted for one-time gains and costs, came to 32 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The enterprise software developer posted revenue of $120.7 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $116.5 million.
“The continued successful execution of our long term strategy is evident in the 57% year-over-year increase in CPaaS revenue, fueled by broad-based demand across all of our services and expanded global footprint,” said David Morken, Chief Executive Officer of Bandwidth. “This success is a testament to the power of Bandwidth’s global offering. Our global platform is proving to be a powerful differentiator for our existing customers and new customers alike in their journey to cloud communications, manifesting in cross-selling momentum, deepening customer relationships and new customer additions.”
For the current quarter ending in October, Bandwidth expects its per-share earnings to range from 7 cents to 9 cents.
The company said it expects revenue in the range of $123.6 million to $124.6 million for the fiscal third quarter.
Bandwidth expects full-year earnings in the range of 71 cents to 75 cents per share, with revenue ranging from $484.8 million to $486.8 million.
Bandwidth shares have decreased 19% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $124.84, a fall of 19% in the last 12 months. It reported financials last Thursday.
- Syneos Health
MORRISVILLE – Syneos Health Inc. (SYNH) on Monday reported second-quarter earnings of $41.9 million.
The Morrisville, North Carolina-based company said it had profit of 40 cents per share. Earnings, adjusted for one-time gains and costs, came to 97 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.
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The clinical research company posted revenue of $1.28 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.27 billion.
Syneos Health expects full-year earnings in the range of $4.25 to $4.43 per share, with revenue in the range of $5.18 billion to $5.3 billion.
Syneos Health shares have increased 28% since the beginning of the year. The stock has climbed 37% in the last 12 months.
- Asensus Surgical
DURHAM – Asensus Surgical, Inc. (ASXC) on Thursday reported a loss of $13.2 million in its second quarter.
On a per-share basis, the Durham, North Carolina-based company said it had a loss of 6 cents. Losses, adjusted for one-time gains and costs, were 5 cents per share.
The maker of surgical robots and medical instruments posted revenue of $1.1 million in the period.
The company’s shares hit $2.31 after the news. A year ago, they were trading at 48 cents.
Asensus just to be known as TransEnterix.
