This industry is hard to figure sometimes. Given their last report, I was expecting a total disaster today but it appears they’re finally learning where to put revenues and since they’re a new expanding company, it’s all about consensus estimates.
As usual, the adjusted numbers look too good to be true but using the worst-case non-adjusted numbers:
They beat for Q4 on revs
They met for Q4 on EPS
They beat for 2012 on REVS
They beat for 2012 on EPS
I suppose higher margins means more cash to fund the Australian expansion and the timing couldn’t be better for that market with energy prices going up again.