Tuesday, October 24, 2006

PCP hits, ZRAN misses

PCP is still enjoying the wealth of the aerospace industry.
* Earnings up almost 100% (excluding a one-time gain, the actual growth was ~80%)
* Sales grew 52% (beating expectation by 4%)
* Beat earnings by 25% (13% w/o the one time gain)

Guidance was strong but included pressure on earnings from high materials cost
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ZRAN missed spectacularly.
* Revenues up 10% YoY and flat sequentially. This was a 14% miss.
* Guidance is a 10% reduction and 30% below analysts expectations

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