ATI Cruises Past Estimate
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ATI’s second-quarter earnings fell 40% from a year ago, as margins contracted following a repositioning in its desktop division. Excluding items, ATI’s earnings were well ahead of estimates and the company issued solid guidance for the current period
ATI earned $34.1 million, or 3 cents a share, in the quarter, compared with $57.2 million, or 22 cents a share, a year ago. Adjusted for charges, the company earned $44.8 million, or 17 cents a share, in the most recent quarter. On that basis, analysts had expected earnings of 11 cents a share, according to Thomson First Call. Second-quarter revenue rose 11% from a year ago to $672 million, easily surpassing the Wall Street consensus of $648.4 million.
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