This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Globecomm Reports Fiscal 2013 First Quarter Financial Results

Stocks in this article: GCOM

Globecomm Systems Inc. (NASDAQ: GCOM), a leading communications solutions provider, today reported financial results for the fiscal 2013 first quarter ended September 30, 2012. Globecomm is reporting its financial results on a generally accepted accounting principles (GAAP) basis as well as adjusted EBITDA and adjusted diluted net income per common share, both non-GAAP financial measures, for which the Company provides detailed reconciliations on the attached tables. The following are highlights:

Revenues ($M)

 
 

Q1 FY13

 

Q1 FY12

 

% Change

Services $ 47.2 $ 50.2 (6.1 )
Infrastructure solutions $ 34.0   $ 20.7 64.0
Consolidated $ 81.2   $ 71.0 14.4
 

GAAP Results ($M except EPS)

 
 

Q1 FY13

 

Q1 FY12

 

% Change

Net income $ 2.7 $ 9.3 (71.3 )
Diluted EPS $ 0.12 $ 0.41 (70.7 )
 

Non-GAAP Results ($M except EPS)

 
 

Q1 FY13

 

Q1 FY12

 

% Change

Adjusted EBITDA $ 8.0 $ 8.2 (2.5 )
Adjusted Diluted EPS $ 0.12 $ 0.12 -
 

Fiscal Year 2013 First Quarter Results

Revenues for the Company’s fiscal 2013 first quarter increased 14.4% to $81.2 million as compared to $71.0 million in the same period last year. Revenues from services decreased 6.1% to $47.2 million as compared to $50.2 million in the same period last year. The decrease in services revenues was primarily due to a decrease in our access services offering in the government marketplace due to the reduction of services in Iraq. Revenues from infrastructure solutions increased by 64.0% to $34.0 million as compared to $20.7 million in the same period last year. The increase in revenue was primarily driven by the achievement of revenue milestones under a major government program which contributed approximately $11.7 million in revenue and carries lower than traditional infrastructure margins.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.08 +5.26 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs