According to Reuters, GIVN beat estimates by 7 cents. The sell-off on the news is an opportunity to buy more. www.reuters.com/article/idCNSGE64AOM420100511?rpc==44 UPDATE 1-Given Imaging Q1 profit tops estimates Tue May 11, 2010 4:45pm EDTStocks GIVUN IMIZHING BE`AM GIVN.O $20.62 -0.69-3.24%9:26am EDT * Q1 adj EPS $0.14 vs est $0.07
* Q1 rev $32.1 mln vs est $33.7 mln
* Sees 2010 rev $167 mln-$174 mln vs est $161.8 mln
* Sees 2010 adj EPS $0.76 - $0.84 vs est $0.55
May 11 (Reuters) - Given Imaging Ltd (GIVN.O) posted a better-than-expected quarterly profit helped by higher sales of its ingestible video capsules in the Asia-Pacific region.
For 2010, the company said it expects to earn between 76 cents to 84 cents a share, excluding items, on revenue of $167 million and $174 million.
Analysts on average were expecting the company to earn 55 cents a share, excluding items, on revenue of $161.8 million for 2010, according to Thomson Reuters I/B/E/S.
For its first quarter, the company posted a net income of $2.1 million, or 7 cents a share, compared with $239,000 or 1 cent a share, in the year-ago quarter.
Excluding items, it earned 14 cents a share, that beat estimates by 7 cents.
Revenue for the quarter rose about 5 percent to $32.1 million.
Remember that in days leading up to May 26th, Israeli stocks will likely fall as they are being divested. MM's HAVE TO SELL . TEVA too is suffering loss of price but worse. It will likely be a larger recipient though. GIVN will get some. I can't imagine not.
I agree it's a buying opportunity but my God, if this isn't classic screwing of the retail investor, beats soundly, good news , good guidance, unchallenged product with no competition and it's is pushed down mercilessly. Once again SEC feeds on pornography while the investment world spins out of control under their computer screens.
As a holder of Given I'm disappointed in Given. Forget beating the estimate. The revenue was only up 5%. Not good for a growth company with a one of a kind product. The street and I were expecting better. Who cares if gross margins, already 70%+ improved. Let's see significant revenue growth.