Research Desk Line-up: Accenture Post Earnings Coverage
LONDON, UK / ACCESSWIRE / October 5, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Presidio, Inc. (NASDAQ: PSDO), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=PSDO, following the Company’s disclosure of its financial results on September 21, 2017, for the fourth quarter fiscal 2017. The Company’s adjusted EBITDA increased 12.1% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:
Get more of our free earnings reports coverage from other constituents of the Information Technology Services industry. Pro-TD has currently selected Accenture PLC (NYSE: ACN) for due-diligence and potential coverage as the Company reported on September 28, 2017, its financial results for Q4 FY17 and full year FY17 which ended on August 31, 2017. Register for a free membership today, and be among the early birds that get access to our report on Accenture when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on PSDO; also brushing on ACN. With the links below you can directly download the report of your stock of interest free of charge at:
For three months ended June 30, 2017, Presidio’s total revenue decreased 3.3% to $729.3 million from $753.9 million in Q4 FY16. The decrease in total revenue was due to an increase in the proportion of new software subscription sales. Total revenue was below analysts’ expectations of $737 million.
During Q4 FY17, Presidio’s Product revenue decreased 4.5% to $615.4 million from $644.4 million in Q4 FY16. For the reported quarter, the Company’s Service revenue increased 4% to $113.9 million from $109.5 million in Q4 FY16.
For the reported quarter, the Company’s Security revenue increased 38.4% to $98.4 million on a y-o-y basis and Cloud revenue increased 11.9% to $134.0 million on a y-o-y basis. During Q4 FY17, the Company’s Digital Infrastructure revenue decreased 11.7% to $496.9 million on a y-o-y basis.
During Q4 FY17, Presidio’s gross profit increased 3.5% to $152.3 million from $147.1 million in Q4 FY16. For the reported quarter, the Company’s gross margin increased 140 basis points to 20.9% of revenue from 19.5% of revenue in Q4 FY16. The increase was due to a favorable mix of higher margin solutions and higher services gross margins.
For the reported quarter, Presidio’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) increased 12.1% to $60.4 million from $53.9 million in Q4 FY16. During Q4 FY17, the Company’s adjusted EBITDA margin increased 120 basis points to 8.3% of revenue from 7.1% of revenue in Q4 FY16.
During Q4 FY17, Presidio’s selling, general, and administrative (SG&A) expenses decreased 2% to $95.6 million from $97.6 million in Q4 FY16. For the reported quarter, the Company’s depreciation and amortization (D&A) expenses decreased 4.6% to $20.5 million from $21.5 million in Q4 FY16.
During Q4 FY17, Presidio’s net income was $10.4 million compared to net loss of $7.4 million in Q4 FY16. For the reported quarter, the Company’s adjusted net income increased 30.8% to $30.6 million on a y-o-y basis from $23.4 million in Q4 FY16. During Q4 FY17, Presidio’s diluted EPS was $0.11 compared to negative diluted EPS of $0.10 in Q4 FY16. For the reported quarter, the Company’s adjusted diluted EPS increased 28% to $0.32 on a y-o-y basis from $0.25 in Q4 FY16. The adjusted diluted EPS was in-line with analysts’ expectations of $0.32.
On May 11, 2017, the Company appointed Benjamin A. Pawson as Chief Accounting Officer.
As on June 30, 2017, Presidio’s cash and cash equivalents decreased 16.6% to $27.5 million from $33 million in Q4 FY16. During Q4 FY17, the Company’s net accounts receivable increased 14.5% to $576.3 million from $503.0 million in Q4 FY16.
For the reported quarter, Presidio’s inventories decreased 42.6% to $27.7 million from $48.3 million in Q4 FY16.
For the reported quarter, the Company’s trade accounts payable decreased 8.3% to $350.5 million from $382.3 million in Q4 FY16. During Q4 FY17, Presidio’s total long-term debt decreased 29.7% to $751.6 million from $1.07 billion in Q4 FY16.
During FY17, the Company’s cash provided by operating activities decreased 40.7% to $51.0 million from $86.1 million in FY16. During FY17, the Company’s free cash flow increased 14.3% to $94.0 million from $82.2 million in FY16.
For FY18, Presidio expects total revenue growth to be 5.5% and adjusted EBITDA margin to be around 8%. The Company estimates diluted EPS growth to be in the high single digit range for fiscal 2018.
On Wednesday, October 04, 2017, the stock closed the trading session at $15.00, rising 4.38% from its previous closing price of $14.37. A total volume of 297.49 thousand shares have exchanged hands, which was higher than the 3-month average volume of 150.68 thousand shares. Presidio’s stock price surged 10.54% in the last one month and 5.86% in the previous three months. Furthermore, since the start of the year, shares of the Company have gained 5.26%. The stock currently has a market cap of $1.39 billion.
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