Ceco Environmental Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Ceco Environmental Corp. (CECO) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $1.978 million, or $0.06 per share. This compares with $2.792 million, or $0.08 per share, in last year's first quarter.

Excluding items, Ceco Environmental Corp. reported adjusted earnings of $3.6 million or $0.10 per share for the period.

Analysts on average had expected the company to earn $0.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.8% to $112.563 million from $92.436 million last year.

Ceco Environmental Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $1.978 Mln. vs. $2.792 Mln. last year. -EPS (Q1): $0.06 vs. $0.08 last year. -Analyst Estimates: $0.09 -Revenue (Q1): $112.563 Mln vs. $92.436 Mln last year.

-Guidance: Full year revenue guidance: >$485 Mln