CompoSecure, Inc. Q3 Loss Increases
(RTTNews) - CompoSecure, Inc. (CMPO) announced Loss for its third quarter of -$174.7 million
The company's earnings came in at -$174.7 million, or -$1.58 per share. This compares with -$85.5 million, or -$1.10 per share, last year.
The company's revenue for the period rose 12.9% to $120.9 million from $107.1 million last year.
CompoSecure, Inc. earnings at a glance (GAAP) :
-Earnings: -$174.7 Mln. vs. -$85.5 Mln. last year. -EPS: -$1.58 vs. -$1.10 last year. -Revenue: $120.9 Mln vs. $107.1 Mln last year.
This net loss reflects noncash items related to the revaluation of warrant and earn- out liabilities.
Excluding items, however, the company’s third-quarter earnings beat Street view.
For the third quarter, CompoSecure recorded adjusted profit of $34 million, or $0.29 per share, higher than $24.3 million, or $0.23 per share, in the same period last year. On average, 5 analysts polled had projected a profit of $0.26 per share for the quarter. Analysts’ estimates typically exclude special items.
Jon Wilk, CEO of CompoSecure, said: “CompoSecure’s third quarter performance exceeded expectations across all key metrics, driven by strong customer demand, expansion of existing programs, new client wins, and significant operating improvements.”
CMPO was up by 3.57% at $20.58 in the pre-market trade on the New York Stock Exchange.
