Wednesday, May 7, 2014

Textura Reports Financial Results for Qtr-end March 31 2014 - How'd it do?

Update:  just noticed that Textura shares opened trading at $14.24 this morning, the day after Textura released its financial results.  It’s now around 9:50 am, and Textura shares have climbed back up to $15.01.

Textura reported its financial results today, after the market closed, and, I’ll get to the results in just a minute.

I watched Textura’s stock late this afternoon.  One minute prior to the market close, Textura was at:

-1.53 (-8.91%)
May 7 – 3:59 pm

Then, one minute later, at market close, Textura was at:

-1.11 (-6.46%)
May 7 – Close

Quite interesting how the share price jumped $.42 in the last minute of trading.

Here’s Textura shares trading range reported on Google Finance today:

Range (May 7th):
15.25 - 17.10
52 week range:
15.25 - 47.25

Wow, Textura’s share price is now a lot closer to the $4.00 price Citron Research suggested Textura is worth than it is to it’s all-time-high or to the price Textura was at just prior to Citron’s initial “report”.  I’m still wondering if Textura is still on Barrington Research’s “best ideas” list and whether or not the analysts who follow Textura, and who have previously issued price targets of $50 or more, are still sticking to their price targets!

Textura is either a) still well-overpriced or b) now, the bargain buy of 2014!

Textura : Announces Revenue Increase of 61% for the Quarter ended March 31, 2014

05/07/2014 | 04:07pm US/Eastern …..
CHICAGO, May 7, 2014 /PRNewswire/ -- Textura Corporation (NYSE: TXTR), the leading provider of collaboration solutions for the construction industry, today announced financial results for the quarter ended March 31, 2014.
Revenue increased 61% year over year to $13.8 million

Organic revenue growth of 46% year over year

Construction value added of $19.5 billion, up 84% year over year

Gross margin of 79%, up from 77% in prior quarter

Adjusted EPS loss of $0.16, improving from $0.19 in the prior quarter

Net loss per share of $0.30, compared to $0.27 in the prior quarter

Change in fiscal year end from September 30th to December 31st

Here’s the complete post on about Textura’s financial results:

Blog Publisher’s Comments:

Let’s take a very quick, brief look at, to me, the most important numbers I like to look at – revenues and incomes (or, in this case, losses). 

Below, I’ve posted Textura’s financial results for the quarter-ended March 31st for three years, but please note that, since I could not find the net loss “available to Textura common shareholders (because I could not find that line in the 2012 results), I’ve used the line net loss “attributable to” Textura Corp. as the comp.  (The 2012 numbers come from Textura’s S1 Registration Statement, the one filed in connection with Textura’s June 2013 IPO.)


Net Loss Attributable to Textura Corp

We know that Textura’s 3/31/14 numbers contain “acquired” revenues – attributable to PlanSwift and Latista – and, in the 2013 period, Textura’s revenues included PlanSwift revenues, but no Latista revenues, and, in the 2012 period, Textura’s revenues did not include any PlanSwift or Latista revenues.  The table below is not an official table, it’s one that I put together myself, and it is based on numbers I found in Textura filings; this table shows my estimate of Textura’s “organic” revenues, after subtracting PlanSwift revenues and Latista revenues.

 While Textura’s revenues are increasing, does this look to you like a “robust” “growth” company?  Textura is certainly growing, but even at $16.06 per share, it’s market cap is just under $400 million!


Total Revenue Textura Corp
Less: Estimated Revenues from PlanSwift biz
Less: Estimated Revenues from Latista biz
  Textura Corp organic revs

And, when you look at the losses, especially this year’s 03/31/14 quarterly loss, you’ve got to ask, “where’s the beef?”  I mean, c’mon, show me the money!

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