Thanks AW, its amazing the bad press IFM gets sometimes.
I looked at the results and looks decent ( or as expected)to me, revs increased and operating profit beat concensus of 7 cents vs actual of 16 cents. Cdn analysts do not use same criteria as US analysts for B2B companies. Also, Naz listing delayed doesn't help.
Heres another release today.
biz.yahoo.com
Monday October 23, 3:31 pm Eastern Time
BCE Emergis earnings top forecasts
MONTREAL, Oct 23 (Reuters) - BCE Emergis (Toronto:IFM.TO - news) beat analyst earnings expectations by a healthy margin in its third quarter because of a strong stream of recurring transaction revenue.
BCE Emergis, an electronic commerce company controlled by BCE Inc. (Toronto:BCE.TO - news), Canada's largest telecoms group, said its operating earnings were C$14.9 million ($10 million), or 16 Canadian cents a share, compared with a profit of C$700,000 or 1 Canadian cent a share for the same period in 1999.
After acquisition-related amortization costs and future income tax benefits, the company lost C$83.3 million or 90 Canadian cents a share compared with year earlier losses of C$5.5 million or 7 Canadian cents a share.
``Emergis has met or beat all consensus targets,'' vice-chairman Brian Edwards said in a conference call with investors.
The consensus estimate of three analysts polled by First Call/Thomson Financial was for an operating profit of 7 Canadian cents a share.
Earnings before interest, taxes, depreciation and amortization as a percentage of revenue rose to 19.5 percent, well above the company's target of 15 percent.
Revenues in the third-quarter rose to C$132.1 million, up 171 percent from a year-earlier C$48.8 million, with only one percent derived from the BCE group of companies.
BCE Emergis's shares fell C$2.85 to C$65 on the Toronto Stock Exchange in mid-afternoon trading on Monday.
The company said the notion of listing on a U.S. market combined with the sale of shares to American investors is on hold and ``subject to stable market conditions.'' |
