Fuel Systems Solutions Inc. (FSYS) estimates continue to rise after a great quarterly report.
Great Quarter
On Aug 6 the company released a great earnings report. Revenue was down slightly to $92.3 million, but would have been a gain without forex impact. Profit was $28.6 million, flat year-over-year, but had better margins. Net income was up $2.8 million to $7.4 million, or 46 cents per share.
EPS was 17 cents higher than last year’s figure and topped the Zacks Consensus Estimate by 13 cents.
Estimates Pop
Following the report, analysts polled by Zacks began raising their estimates. Currently the full-year estimate for 2009 is $1.63, up 23 cents. Next year’s estimates are averaging $1.96, up from $1.74.
These figures represent a 5% dip in earnings this year, but a 20% increase in 2010.
The Chart
Shares of FSYS are at levels that they have not seen in almost a year. There could be some resistance here, but if estimates continue to rise the stock should have no pushing through. Take a look at the chart below.
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