The provider of specialized industrial services posted disappointing bottom-line results after Monday's market close.
Team saw its revenue grow by a better than expected 14% to $161.5 million, but profitability didn't keep up. Team's quarterly earnings of $0.36 a share may have improved on the $0.33 a share that it rang up a year earlier, but the company only met Wall Street's growth targets halfway. Analysts were forecasting net income to check in at $0.39 a share.
Unfortunately this isn't an isolated event. Team has now come up short in two of the company's past three quarters.
The rub for Team right now is that a lot of its overseas markets are in a deeper financial funk than we are closer to home. U.S. revenue actually climbed an impressive 20% during the quarter. However, investors are going to fret about the big miss on the bottom line.
A team is sometimes only as strong as its weakest player, and right now this Team is struggling with its income growth.
Other Things Worth Watching
• Amazon.com (AMZN) is introducing the Paperwhite version of its Kindle e-reader. The new device hit the market yesterday, giving a clear white background that closer resembles a traditional book. We'll probably never know how many of the illuminated e-readers Amazon will sell. Unlike Apple (AAPL) -- which had no problem letting the world know that it sold five million iPhone 5 devices in its first day of availability -- Amazon guards its sales metrics. That can always change, but for now we'll have to merely explore anecdotal evidence of the new e-reader's success.
• Fifth & Pacific (FNP) should've pleaded the fifth instead of getting specific. The company that was formerly known as Liz Claiborne before it decided to reposition itself around the faster growing upside of its Juicy Couture, Lucky Brand, and kate spade brands lowered its full-year guidance on Monday night. Weakness at Juicy Couture is the culprit. Just a hunch, but maybe fickle teens are equally to blame here.
Motley Fool contributor Rick Munarriz does not own shares in any of the stocks in this article. The Motley Fool owns shares of Amazon.com and Apple. Motley Fool newsletter services have recommended buying shares of Amazon.com and Apple. Motley Fool newsletter services have recommended creating a bull call spread position in Apple.