Hollysys Automation (HOLI) Misses Q4 EPS by 15c, Miss on Revenues

Hollysys Automation (NASDAQ: HOLI) reported Q4 EPS of $0.37, $0.15 worse than the analyst estimate of $0.52. Revenue for the quarter came in at $138 million versus the consensus estimate of $161.26 million.

Fourth Quarter of Fiscal Year 2017 Financial Highlights

• Non-GAAP net income attributable to Hollysys was $22.6 million, a decrease of 34.0% compared to the comparable prior year period.
• Total revenues were $138.0 million, a decrease of 6.6% compared to the comparable prior year period.
• Non-GAAP gross margin was at 39.1%, compared to 39.9% for the comparable prior year period.
• Non-GAAP diluted EPS were at $0.37, a decrease of 35.1% compared to the comparable prior year period.
• Net cash provided by operating activities was $23.8 million for the current quarter.
• DSO of 153 days, compared to 146 days for the comparable prior year period.
• Inventory turnover days of 50 days, compared to 37 days for the comparable prior year period.

Fiscal Year 2017 Financial Highlights

• Non-GAAP net income attributable to Hollysys was $70.1 million, a decrease of 42.3% compared to the comparable prior year period.
• Total revenues were $431.9 million, a decrease of 20.6% compared to the comparable prior year period.
• Non-GAAP gross margin was at 32.7%, compared to 37.9% for the comparable prior year period.
• Non-GAAP diluted EPS were at $1.16, a decrease of 42.6% compared to the comparable prior year period.
• Net cash provided by operating activities was $69.8 million for the current year.
• DSO of 201 days, compared to 162 days for the comparable prior year period.
• Inventory turnover days of 51 days, compared to 38 days for the comparable prior year period.

For earnings history and earnings-related data on Hollysys Automation (HOLI) click here.

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