(TESS) TESSCO Technologies Blows Past Estimates by 124%

September 8th, 2009

TESSCO Technologies Inc. (TESS) continues to trade higher on strong fundamentals and a bullish Zacks Consensus Estimate.

Receiving an extra boost on solid quarterly results, shares have soared past the market by about 20% since TESSCO reported in late July. The stock is trading near a 52-week high and has outpaced the market over the long-term.

Bullish Forecasts

Encouraged by strong first-quarter that saw earnings per share of 38 cents soar past the Zacks Consensus Estimate by 124%, the company hiked its fiscal year earnings guidance to a range of $1.15 to $1.40 per share.

The Zacks Consensus Estimate has been holding steady over the past month at $1.31 per share or the year ending May 2010. The forecast was at $1.22 per share 3 months ago.

Strong Fundamentals

The company continues to boast stellar fundamentals. TESSCO’s return on equity (ROE) of 10% tops the industry average of 0.25%. Its net profit margin of 1% compares to a negative industry average.

Zacks Investment Research
View original at: Zacks.com News Feed

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Read more on TESSCO Technologies at Wikinvest

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