Revenue rose by 30.2% since the same quarter last year, and EPS improved by 30.8%. However, we anticipate underperformance in the coming year relative to the company's yearlong pattern of positive EPS growth. Starent has no debt to speak of and a quick ratio or 2.3, which demonstrates its ability to cover short-term liquidity needs. Net operating cash flow fell 59.2% to $23.3 million compared with the same quarter last year. We've upgraded Vectren ( VVC) from hold to buy, driven by its increase in net income, growth in earnings per share, notable return on equity and relatively strong performance when compared with the S&P 500 during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Net income increased by 13.8% since the year-ago quarter, from $64 million to $72.8 million. EPS improved by 7.1%, and we feel the company is poised for EPS growth in the coming year. Revenue fell by 11.9% compared with the year-ago quarter. ROE slightly decreased but exceeds that of the industry average and the S&P 500. Shares are down 23.1% over the past year, in part reflecting the market's overall decline. The fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it is one of the factors that makes this stock an attractive investment. All ratings changes from June 9 are listed below.
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