HollySys Q4 Profit Misses Estimates; Reaffirms FY16 Guidance

(RTTNews) - HollySys Automation Technologies Ltd (HOLI), a Chinese provider of automation and control technologies, on Thursday reported fourth-quarter net earnings of $18.7 million or $0.31 per share compared with $21.3 million or $0.36 per share last year.

Excluding items, adjusted earnings for the quarter were $0.38 per share compared with $0.43 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.41 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $142.2 million compared with $158.9 million in the prior year.

For the full year 2016, the company continues to expect adjusted earnings of $110 million to $120 million and revenues of $565 million to $600 million.

Analysts expect earnings of $1.86 per share on revenues of $618.2 million for 2016.