Willdan Group (WLDN) Tops Q2 EPS by 1c, Beat on Revenues; Offeres FY17 Outlook

Willdan Group (NASDAQ: WLDN) reported Q2 EPS of $0.36, $0.01 better than the analyst estimate of $0.35. Revenue for the quarter came in at $71.8 million versus the consensus estimate of $65.29 million.

Second Quarter 2017 Highlights

• Total contract revenue of $71.8 million, an increase of 22% over prior year
• Income from operations of $4.6 million, an increase of 15% over prior year
• Diluted earnings per share of $0.36

Outlook

Willdan updated the following financial targets for fiscal year 2017:

• Total contract revenue of $250 - $260 million
• Diluted earnings per share of $1.08 - $1.21
• Effective tax rate of approximately 40% for the remaining two quarters
• Diluted share count of 9.2 million shares
• Depreciation of $1.6 million
• Amortization of $2.7 million

Over the long-term, Willdan continues to target both organic and acquisitive revenue growth of greater than 10%, resulting in total revenue growth of greater than 20% per year.

For earnings history and earnings-related data on Willdan Group (WLDN) click here.

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