Mixed Bag of Results for Trio of Holdings
Ballantyne Strong (BTN) , CalAtlantic Group (CAA) and TherapeuticsMD (TXMD) all posted quarterly results last night.
Up first is Ballantyne, which excluding one-time items, earned $0.05 per share in the third quarter. Revenue grew more than 3% from the previous year, to $23.5 million.
The growth was driven by increased demand for its management services business and management is also aggressively cutting costs. This should allow Ballantyne to expand its margins in the coming quarters. On the conference call, management detailed more initiatives in order to increase shareholder value in the coming quarters. Following the numbers, we maintain our One rating on the stock, which recently changed hands around $4.40.
Next, CalAtlantic posted third-quarter results that fell short of the consensus analyst estimate. The company earned $0.59 per share in the quarter, as management saw lower orders. On the other hand, management delivered 24% backlog unit growth and expanded the gross margin in the period. Ahead of the conference call at 12 p.m. ET, we maintain our One rating on the shares, which recently traded at about $38.21. We’ll circle back with an Alert after the call, if there is any material news.
Finally, TherapeuticsMD delivered better-than-expected third-quarter results. The company posted a loss of $0.11 per share in the quarter, as revenue increased 24% year over year, to $5.2 million. In addition to the better headline numbers, management said that the clinical pipeline continues to progress well.
Following the results, we keep our Two rating on the stock, which recently changed hands around $6.50.
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