Annie’s Earnings: Why BNNY Is Tumbling Today

Annual profits and revenue climbed in fiscal 2014

   

Annie’s Earnings: Why BNNY Is Tumbling Today

On Thursday, Annie’s (BNNY) posted fiscal fourth-quarter results that missed analysts estimates and offered a weak forecast for the current fiscal year. Investors weren’t happy, sending BNNY stock down more than 8% in Friday morning trading.

Annies 300x241 Annie’s Earnings: Why BNNY Is Tumbling TodayAnnie’s reported earnings of $5.1 million during the fourth quarter, up 33% from $3.9 million in the prior-year period. But EPS came in at 29 cents, falling short of the 35 cents that Wall Street was looking for, CNBC notes.

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Quarterly revenue at Annie’s was $60.1 million, up 15% year-over-year, but still slightly below the $61 million that analysts had forecast.

For fiscal 2014, Annie’s recorded net income of $15.3 million, up 36% from the prior fiscal year, on revenue of $204.1 million, up 20%. EPS for fiscal 2014 came in at 88 cents.

Looking ahead, Annie’s projects fiscal 2015 adjusted earnings of 88 cents to 95 cents per share. But that is substantially less than the profit of $1.13 per share that Wall Street expects.

Shares of Annie’s closed at $34.88 on Thursday.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/05/annies-earnings-bnny-tumbling-today/.

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