Gerber Scientific Misses Estimates (GRB)

Gerber Scientific, Inc. GRB released financial results on Thursday morning. Gerber Scientific, Inc announced a 2nd quarter net loss of $16.1 million, or 64 cents per share, compared to net income of $0.5 million, or 2 cents per share, a year earlier. Excluding special items, the company reported earnings of 3 cents per share. Gerber Scientific, Inc. (GRB) reported that its revenue rose 9% to $129.3 million, up from $118.66 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 7 cents per share, on revenue of $120.38 million. President and chief executive officer Marc Giles said, "We continued our positive performance trend in the second quarter, with currency-neutral revenue up 11%, fueled by a strong rebound in equipment sales, up 27%, and solid revenue gains in software and aftermarket products, up 17% and 4%, respectively. We are particularly pleased by the significant ramp up in market demand within our Apparel and Industrial segment, which posted significantly higher orders across every business line and nearly every geographic market." Gerber Scientific, Inc finished the previous trading day at $9.01 per share. The consensus price target of analysts covering the company's stock is $8.00 per share. Read more from Benzinga's Company news.