Rises as quarterly results top estimates

Willdan

06/03/2020 17:37

** Shares of business support services co  WLDN.O  up 8.1%
at $33.06 
    ** On adj. basis, co reports Q4 profit of 97 cents/shr,
beating estimates of 83 cents/shr - Refinitiv IBES
    ** Net revenue jumps 51.8% to $61 mln, surpassing estimates;
co says increase was primarily due to incremental revenue from
acquisition of Lime Energy, The Weidt Group, Onsite Energy and
Energy and Environmental Economics  urn:newsml:reuters.com:*:nBw7kzkGra
    ** "This quarter was by far the strongest performance in
Willdan's history," says CEO Tom Brisbin, adding that co is well
positioned for 2020 and beyond, supported by recent acquisitions
    ** Brokerage Roth Capital Partners says co benefited from 
project closeout activity, and the software license contract
with Xcel energy
    ** Guidance reflects conservative stance  on  software 
revenue, while  moderate  hiring  into this business suggests
management is optimistic - brokerage
    ** Avg. rating on stock is "strong buy"; median PT is $42
    ** Stock has risen 6% so far this year 

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
2776; Reuters Messaging:
arundhati.sarkar.thomsonreuters.com@reuters.net))