Maleant Meets Q2 Profit Expectations, CEO Calls the Numbers “Adequate”
By: Erica Taylor
Maleant Data System Solutions released its earnings report for the second quarter, meeting expectations with revenue of $620 million and diluted earnings per share of $0.41. These figures are up 1 percent from the same period last year. The increase is approximately equivalent to the US inflation rate for the past year, making these figures approximately equal to last year’s second fiscal quarter.
Analysts had estimated the company would earn $0.41 per share on revenue of $619 million, and so the Q2 earnings have exceeded expectations by $1 million. Statistically, this $1 million difference in the context of $620 million revenue is negligible and the revenue has therefore matched with analysts’ forecasts.
Maleant Data System Solutions’ CEO Calvin Greene stated he was “happy to report this quarter’s earnings are adequate and have met our analysts’ expectations. We look forward to our third fiscal quarter in which we expect to continue the trend of meeting expectations.” The company has had approximately the same revenue for the past five years, and analysts have forecasted that it will remain steady going forward.